Sabinews Morning News Update for May 20, 2016
House to Go Ahead with Purchase of 360 Cars
Despite the uproar that greeted the purchase of official vehicles for senators, the House of Representatives has said it will go ahead with its plan to purchase 360 official vehicles for its members.
The lower legislative chamber is expected to purchase 360 units of Peugeot 508 to be used for committee oversight duties by its members. Read more
Army Claims Second Chibok Girl, Serah Luka
Just as Nigerians were settling into the news of the first schoolgirl to be rescued, two years after over 200 female students were abducted from their secondary school in Chibok, Borno State, the Nigerian Army claimed last night that a second Chibok girl, Miss Serah Luka, was rescued yesterday.
Serah’s rescue came as Miss Amina Ali who was rescued on Wednesday by members of the Civilian Joint Task Force (JTF) on the fringes of Sambisa, was flown in a presidential jet with her family to Abuja, where she met with President Muhammadu Buhari at Presidential Villa in Abuja. Read more
NEC C’ttee: FG Lacks Resources to Stop Vandalism, Oil Theft
The ad hoc Committee on Crude Oil Theft Prevention and Control of the National Economic Council (NEC) has revealed that government does not have adequate operational vessels to patrol and secure the network of pipelines in the Niger Delta.
Briefing journalists at the end of the 67th meeting of NEC which held on Thursday at the Presidential Villa in Abuja, the Deputy Governor of Bayelsa State, Admiral John Jonah Atuama (rtd), said the committee also discovered that massive unemployment among youths in the Niger Delta region had contributed in no small measure to the rising incidence of oil theft and vandalism of oil company facilities in the region. Read more
FG Had No Other Option over Fuel Price Hike, Say Ngige, Lai Mohammed
The federal government has said its hands were tied over the decision to raise the pump price of petrol.
Speaking during a meeting with the national leadership of the ruling party, All Progressives Congress (APC), in Abuja, the Minister of Information, Culture and Tourism, Alhaji Lai Mohammed, said contrary to misrepresentations that fuel subsidy had been removed, what the government did was to liberalise the downstream sector of the oil industry. Read more
Five Workers Arrested by JTF over Pipeline Bombing Released
The Joint Task Force (JTF) last Wednesday night released the five pipeline surveillance workers detained in connection with the bombing of pipeline belonging to Chevron Nigeria Limited (CNL) at Makaraba community, Gbaramatu clan, Warri South-West Local Government Area of Delta State.
Those released are Samuel Emiko and Alfred Timedi, ( Itsekiri) and Isaac Edinde, Henry Arogboritse and Kelvin Mordi (Ijaw), arrested by soldiers while on surveillance duty for a contractor to Chevron. They were arrested last Friday at their place of work. Read more
Witnesses Insists Orubebe Failed to Declare His Assets
The cross examination of the first prosecution witness, Sam Madojemu, in the on going trial of the former Minister for Niger Delta, Godsday Orubebe, on a one-count charge of false asset declaration has ended as the witness insisted that the former minister failed to declare his full asset while in office.
Under cross examination by the defence counsel, Larry Selekowei, SAN, the witness, Madojemu, who is the head of investigation with the Code of Conduct Bureau (CCB) said the property at Plot 2057, Asokoro, Abuja, was not declared by Orubebe while in office between 2007 and 2011. Read more
APC Threatens to Expel Shehu Sani for Criticising Buhari
The Kaduna State chapter of the ruling All Progressives Congress (APC ) on Thursday warned Senator Shehu Sani to desist from attacking President Muhammadu Buhari or face expulsion.
Sani who represents Kaduna Central Senatorial Zone in the Senate was said to have been placed on 11 months suspension for alleged indiscipline, disloyalty and anti party activities. Read more
INEC Tells Tribunal Dickson Won Bayelsa Election
The Independent National Electoral Commission (INEC) on Tuesday told the Bayelsa State Governorship Election Pettition Tribunal sitting in Abuja that the election that produced Governor Seriake Dickson was free, fair and was held in substantial compliance with the Electoral Act.
INEC stated this yesterday as it opened its defence in the petition brought by the candidate of the All Progressives Congress (APC) and former Governor of the state, Timipre Sylva, challenging the emergence of Dickson at the polls as well as the credibility of the election. Read more
FG Planning Regional Force to End Niger Delta Militancy
The federal government is building regional and global security alliance against the resurgent Niger Delta militants in the form of the Lake Chad Basin Commission (LCBC) countries-led Multinational Joint Task Force (MNJTF) against Boko Haram in the North-east.
This was disclosed yesterday by the Chief of Naval Staff (CNS), Vice Admiral Ibok-Ete Ibas, during the media briefing at naval headquarters, Abuja, to mark the Nigerian Navy (NN) Diamond Jubilee Celebration. Read more
Six out of 10 Nigerian kids suffer violence, say UNICEF, EU
The United Nations Children’s Emergency Fund (UNICEF), and the European Union (EU), say about 60 per cent of children, representing six out of 10 children, suffer one or more types of violence before they reach the age of 18 years in Nigeria.
A national survey by the National Population Commission, supported by the US Centers for Disease Control and Prevention, the EU and UNICEF, launched in September 2015, found that six out of 10 children suffer one or more types of violence before they reach the age of 18 years. Read more
Ibori Likely to Appear in Court in June over Assets Confiscation
The Southwark Crown Court sitting in London has said that the former governor of Delta State, Mr. James Ibori, may appear in court in June to give further evidence on some knotty issues concerning his involvement in the defrauding of Delta State of huge sums of money.
The statement was made today by His Honour, Judge David Tomlinson, during a preliminary hearing held at Court 13, regarding Ibori’s assets confiscation which has received series of adjournments since October 2013, specifically for the prosecution to call witnesses. Read more
BEDC to Relocate Head Office over Hostility
The Benin Electricity Distribution Company (BEDC) is planning to relocate its head office from Benin City, capital of Edo State, THISDAY has learnt.
Sources confided in this newspaper that the planned relocation was triggered by the increased hostilities faced by the company from its host community, which was disclosed to the Edo House of Assembly yesterday. Read more
Oil market extends pullback as dollar rises
Oil prices extended their retreat Thursday after hawkish US Federal Reserve meeting minutes strengthened the dollar and a weekly report showed rising US crude stockpiles.
Prices hit 2016 highs Wednesday due in part to production outages resulting from wildfires around the Canadian oil sands hub of Fort McMurray but pulled back to settle lower after the dollar climbed. Read more
DMO to release timeline for issuance of sovereign sukuk by Q3
The timeline for the issuance of sovereign sukuk would be made public by the third quarter of this year, the Debt Management Office (DMO) has stated.
Sukuk is an Islamic financial certificate, similar to a bond in Western finance that complies with Sharia, the Islamic religious law. Read more
BoI disburses N48.44m to 15 entrepreneurs under KADSTEP scheme
Having met its risk acceptance criteria for their proposed businesses, the Bank of Industry (BoI) has disbursed N48.44million loan to beneficiaries of the Kaduna Start up Entrepreneurship Programme.
According to the bank, apart from benefiting from other loan windows of the bank, under the KADSTEP, successful small business operators would also have opportunities to leverage on existing N1bn matching fund. Read more
No better time to invest in Nigeria’s maritime industry
Nigeria has never been in a better position to build its maritime industry, says Dakuku Peterside, Director General of the Nigerian Maritime Administration and Safety Agency.
The Director- General was talking about the investment opportunities available in Nigeria’s maritime sector in light of the Ministry of Transportation’s two-day stakeholders’ conference on Maritime. Read more
Access Bank Partners Institute on N5bn Healthcare Centre
In order to promote public and private partnership for quality health services, capacity building and research in West Africa, the Institute of Human Virology, Nigeria (IHVN) is collaborating with Access Bank to raise N5 billion for the building of a state-of-the-art International Research Centre of Excellence (IRCE) in Abuja.
The partnership also includes the Dangote Foundation. Read more
Fuel: Group predicts severe water scarcity in Nigeria
Severe scarcity of safe drinking water in Nigeria looms following the increase in the price of Petroleum Motor Spirit (PMS) or petrol from N86.50 to N145.00, an expert has forecast.
Also, the World Bank said that water shortage, exacerbated by climate change, could hinder economic growth in Africa and East Asia, leading to declining up to six per cent of Gross Domestic Products( GDP) of the region by 2050. Read more
Stock market advances on sustained bargain hunting
The local bourse trudged along, driven by sustained bargain hunting activities, which lifted the NSE ASI and market capitalisation by 0. 99 per cent.
Almost all sectored gauges closed in the green, as investors continued to take advantage of low prices of stocks despite industrial action embarked by the organised labour to press for reversal of pump price of petrol back to N86.00. Read more
Investment in stock market not mandate of NSIA
Managing Director/Chief Executive Officer of Nigerian Sovereign Investment Authority (NSIA), Mr. Uche Orji, has ruled out direct investment in the equities market for now. Addressing journalists during a visit to the Nigerian Stock Exchange (NSE) in Lago,s Orji said direct investment in the stock market is not the mandate of the authority.
According to him, the mandate of NSIA is to manage three funds, which include: The Future Generations Fund (meant to preserve and grow the value of assets transferred into it by investing in a diversified portfolio of appropriate growth investments). Read more
Dalung: Court didn’t ask Giwa to take over NFF
Minister of Youth and Sports, Solomon Dalung, on Thursday in Abuja stated that there was no time any court asked club owner Chris Giwa to take over the operations of the Nigeria Football Federation.
Dalung who was speaking during an interactive session between the House Committee on Sportsled by Goni Lawal, and the top officials of the NFF led by vice president, Shehu Dikko, stressed that the court did not fire the Amaju Pinnick board. Read more
Rio: Portugal coach not sure of Ronaldo
Cristiano Ronaldo is unlikely to try to add Rio 2016 gold to his medal collection, according to Portugal Olympic coach Rui Jorge.
Portugal’s Olympic coach does not expect Cristiano Ronaldo to turn out for his country at Rio 2016. Read more
Green Friday expected for JSE
THE JSE looked likely to rebound from Thursday’s 0.8% slide of the all share index, judging from the green tone of stock exchanges trading before it opened on Friday morning.
International crude oil prices rising back over $49/barrel helped BHP Billiton regain 1.55% to A$19 in Sydney on Friday morning. BHP fell 3.61% to R186.13 on the JSE on Thursday. Read more
MTN SA to invest R12bn in network
MTN SA will spend R12bn this year to ramp up its network to improve and expand coverage. The company also plans to open its network to other companies, but did not name them.
It had initially planned to spend R8bn, but revised that upwards to cater for demand for data. At a media briefing on Thursday, MTN unveiled plans to bolster growth in subscribers, boost revenue and eliminate network outages that have left customers without voice and data coverage in some areas. Read more
Standard sued by former Tanzanian official ensnared in bribery scandal
ONE of the people blamed for the fraud that led to nearly $33m in fines on Standard Bank’s UK unit — levied as part of a deferred prosecution agreement (DPA) with that country’s Serious Fraud Office (SFO) — is suing the bank.
She is claiming the DPA was essentially founded on untrue submissions. Read more
EgyptAir Plane: Multi-National Search Intensifies
The search for a missing passenger jet is intensifying, with Egyptian president Abdel Fattah al Sisi ordering officials to take all necessary measures to find the plane.
EgyptAir flight MS804 departed Paris at 10.09pm BST on Wednesday but the plane lost contact with radar at 1.30am BST, just over three hours into its four-hour journey towards Cairo. Read more
New Taiwan president omits one-China policy in first speech
New Taiwan President Tsai Ing-wen omitted mentioning the one-China policy in her inaugural address Friday, in a move likely to anger Beijing, which claims the self-governing island as its own territory.
Tsai said in her speech that she respected the “joint acknowledgments and understandings” reached between the sides at a landmark 1992 meeting seen by China as underpinning all subsequent contacts and agreements. Read more
India records its hottest day ever as temperature hits 51C (that’s 123.8F)
A city in northern India has shattered the national heat record, registering a searing 51C – the highest since records began – amid a nationwide heatwave.
The new record was set in Phalodi, a city in the desert state of Rajasthan, and is the equivalent of 123.8F. Read more
Paris terror suspect Salah Abdeslam faces questioning in France
Salah Abdeslam, t he leading suspect in last year’s Paris terror attacks, will be questioned by France for the first time since his extradition from Belgium.
Authorities and families of the victims of the November 13 atrocity in which 130 people died hope his evidence will shed light on the Islamic State’s strategies in Europe and identify others who might have been involved in bloodshed. Read more