SABINEWS MORNING NEWS UPDATE FOR OCTOBER 17, 2016
Dollar scarcity: Banks suspend ATM card usage abroad
Deposit Money Banks have begun suspending their Automated Teller Machine cards (debit and credit) from working overseas as dollar scarcity continues to hit the economy badly.
Stanbic IBTC Bank, Standard Chartered Bank Nigeria and Guaranty Trust Bank on Friday announced the suspension of their overseas ATM card services. Read more
JAMB scraps use of scratch cards
The Joint Admissions and Matriculation Board has scrapped the use of scratch cards for any of its transactions and services, describing it as “archaic,” its Registrar/Chief Executive, Prof. Is-haq Oloyede, has announced.
He also demanded that the Federal Government should revert to the former system where serving vice-chancellors of universities were made chairmen of the Governing Board of JAMB. Read more
Arrested judges: Lawyer sues Buhari, DSS, AGF, others for N50bn
A Lagos-based lawyer, Mr. Olukoya Ogungbeje, has filed a N50bn suit against President Muhammadu Buhari, the Department of State Services and its Director-General, Lawal Daura, along with others for allegedly violating the rights of judges whose houses were raided by the DSS operatives between October 8 and 9.
Others joined as defendants in the suit, with number FHC/ABJ/CS/809/16, are the Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN); the Inspector-General of Police, Ibrahim Idris; and the National Judicial Council. Read more
Buhari’s, wife’s comments taken out of context, says Okorocha
Imo State Governor Rochas Okorocha yesterday said the interview granted by President Muhammadu Buhari’s wife, Aisha, to the British Broadcasting Corporation (BBC) and the President’s reaction were taken out of context.
In the interview, Aisha claimed that Buhari’s administration had been hijacked by those who didn’t contribute to his electoral victory and that she would not campaign for his re-election in 2019 if the situation does not change. Read more
Chibok girls recount ordeal as they reunite with parents
Emotions ran high on Sunday in Abuja when parents of the 21 Chibok girls, who were released by Boko Haram militants on Thursday, reunited with their parents at a thanksgiving service.
Parents and a few invited guests shed tears as the few lucky girls, who were among the over 200 schoolgirls of the Government Secondary School, Chibok, Borno State, kidnapped on April 14, 2014, locked themselves in warm embrace. Read more
MASSOB threatens ‘internal revolution’ against Igbo leaders
The Movement for the Actualisation of the Sovereign State of Biafra, on Sunday, threatened to organise an ‘internal revolution’ against political, traditional, religious and opinion leaders in Igboland.
MASSOB, which issued the threat in a statement signed by its leader, Comrade Uchenna Madu, said Igbo leaders were ‘insensitive’ to the plight of the leader of the Indigenous People of Biafra, Nnamdi Kanu, and other detained pro-Biafra activists. Read more
My wife’s duty is to look after me, Buhari insists
Despite the criticisms that have trailed his comment that his wife, Aisha, belongs to the kitchen and “the other room,” President Muhammadu Buhari says he stands by his earlier comment.
He insisted that his wife’s duty was to take care of him, hence, she should stay away from politics. Read more
Microsoft, Intel, HP empower SMEs with business technologies
The need for Small and Medium Enterprises in Nigeria to further leverage technology to drive business growth has again been stressed.
This was made known at the ‘Accelerate Your Business’ event organised by Microsoft, in collaboration with Intel and HP. Read more
Tension in Awka as police stop town union election
The Anambra State Police Command on Saturday stopped the election of the Awka Development Union of Nigeria.
The operatives of the state police command barricaded major streets and cordoned off some hotels in Awka, the Anambra State capital, to prevent the election from holding in any part of the community. Read more
Imo APC suspends commissioner, LG chair
The political crisis in Ahiazu Mbaise chapter of All Progressives Congress heightened on Sunday as members of the party boycotted a meeting summoned by the Imo State Commissioner for Commerce and Industry, Chidi Ibe, and instead suspended him and some party chiefs.
The party leaders, who boycotted the meeting called by the commissioner, attended another meeting convened by a local government area party chairman, Mr. Ifeanyi Eke. They told newsmen they shunned the meeting because the convener did not follow due process, which made the meeting illegal. Read more
Curfew imposed on southern Kaduna as herdsmen kill 20
There was pandemonium in Godogodo area of Southern Kaduna, Jema’ah Local Government Area of the state, as suspected Fulani herdsmen reportedly killed no fewer than 20 persons between Saturday and Sunday.
It was gathered that the attackers laid siege to the town, an urban settlement in Jema’ah LGA, which has its headquarters at Kafanchan. It is about 250 kilometres away from Kaduna metropolis and serves as both the commercial and the social hub of the people of Southern Kaduna. Read more
Four feared killed in Rivers cult clash
At least, four persons suspected to be members of two rival cult groups were feared killed during a clash in Akporo-Sogho community in Khana Local Government Area of Rivers State.
It was gathered that some houses were also razed during the clash in the community on Saturday. Read more
Tension in Delta community over alleged monarch removal
Crisis has enveloped Nsukwa Kingdom in the Aniocha South Local Government Area of Delta State over the purported removal of its monarch, Obi Kenneth Ezegbunem I, by some community chiefs.
The crisis, which has been on since August, escalated when notable chiefs in the kingdom led by Onyemeli-Eze of Nsukwa, Chief Thomas Nwozubu, and Ojuwe of Nsukwa, Chief Innocent Okofu, alleged that the king’s enthronement did not follow the custom of the community. Read more
Police smash car-snatching syndicate, recover stolen vehicles
Men of the Abia State Police Command have smashed a car-snatching syndicate, which allegedly stole a Toyota Highlander Sports Utility Vehicle at gunpoint along Finbarrs Road in Umuahia, the state capital.
It was learnt that security operatives attached to the Umuahia Area Command, while on a patrol, got a distress call that a car had just been snatched from its owner and gave the hoodlums a chase. Read more
Benin crown prince wrestles with chief priest
The crown prince of Benin of Kingdom, His Royal Highness, Eheneden Erediauwa, has symbolically wrestled with the Chief Priest of Okhuaihe shrine, Osarodion Usuanlele.
The ‘wrestling’ is a traditional rite for the coronation of Prince Eheneden as the 39th Oba of Benin. Read more
Dangote buys gas firm in the Netherlands
The management of Dangote Industries Limited on Sunday announced that it had completed the acquisition of Twister BV, a company in the Netherlands, as part of its strategy to meet Nigeria’s gas needs.
According to a statement by Dangote, Twister BV provides robust solutions in natural gas processing and separation to the upstream and midstream oil and gas sectors. Read more
ARCO vs AGIP: Court won’t grant firm’s reliefs
The Federal High Court, sitting in Port Harcourt, the Rivers State capital, has failed to grant any of the reliefs sought by ARCO Group Plc in a suit it filed against Nigerian Agip Oil Company (NAOC), NNPC/NAPIMS Joint Venture partners, as well as Nigerian Local Content Board, on the provisions of Oil and Gas Local Industry Development Content Act.
ARCO, an indigenous engineering firm, participated in a bid for a contract to service Agip Gas turbine facility at OB/OB, Ebocha and Kwale, all in Omoku, Rivers State. Read more
Shell Faces Lawsuit over Activists’ Execution
The widow of a Nigerian activist is planning to sue Royal Dutch Shell in the Dutch courts alleging the oil company was complicit in the execution of her husband by the Nigerian military in 1995, court documents filed in the United States last week show.
Esther Kiobel, according to Reuters, has filed an application in New York to secure documents from Shell’s US lawyers, which she could use in the Dutch action. Read more
Naira to continue gain on dollar supply to BDCs
The naira is expected to appreciate further this week following the Central Bank of Nigeria’s approval of dollar sale to Bureau De Change operators.
The CBN has given approvals to First Bank of Nigeria Limited and Travelex, a global foreign exchange company, to commence sale of dollars to the BDC operators. Read more
Sector striving towards financial inclusion
The level of insurance practice and financial inclusion in the sector in Nigeria is beclouded with timidity, apathy and exclusion, despite the long years of professionalism and the potential protection it offers against risks and damages arising from unforeseen circumstances and disasters.
Since almost 95 years when the Lagos office of the then London based, Royal Exchange Assurance Company was first established in Nigeria, in 1921, many other insurance companies are now in existence. Read more
SMEDAN, NICON Sign MOU on Insurance Cover for SMEs
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has signed a memorandum of understanding (MoU) with NICON Insurance Limited as part of efforts to reinforce the agenda of diversification of the economy through the empowerment of the informal sector.
The parties said the MoU represents their steps towards ensuring the success of Micro, Small and Medium Enterprises (MSMEs) in the country through adequate insurance coverage. Read more
Group Backs FG, CBN’s Policies to Revive Economy
A coalition of Civil Society Groups, under the auspices of Vanguard for Social Justice (VSJ), has supported the policies of the Central Bank of Nigeria (CBN) and the federal government to revive the Nigerian economy.
Speaking in Abuja recently, the convener, Etuk Bassey William, commended the policies of the CBN, particularly the blockage of leakages to the country’s foreign reserves as well as the injection of funds into the real sector, with a view to revamping the ailing economy.
William, who noted that the current economic challenges and recession were the culmination of many years of financial imprudence on the part of government at different levels, noted that the CBN had shown leadership by daring to plug loopholes in Nigeria’s foreign reserves. Read more
Why Lagos is key to Nigeria’s recovery, by Utomi
Lagos State is a crucial catalyst, if Nigeria’s economy is to witness a turnaround, renowned economist and financial expert Prof. Pat Utomi said at the weekend.
Utomi, who spoke at the Executive/Legislative retreat for members of the State Executive Council and lawmakers from the Senate, House of Representatives as well as the House of Assembly, said there were lessons to be learn from Lagos State. Read more
CBN faults protest against forex policies
The Central Bank of Nigeria (CBN) at the weekend, said those behind the protest against its foreign exchange (forex) policies preferred that the country remained an import-dependent nation because of their selfish interests.
Speaking at the sidelines of the 329th meeting of the Bankers’ Committee in Lagos, CBN’s Acting Director, Corporate Communications, Isaac Okorafor, said the protest organisers capitalised on the trying times the country is experiencing to blackmail the CBN and its top management. Read more
FG/World Bank SMEs deal
THE recent agreement between the Federal Government and the World Bank Group on a $1.3 billion funding for Small and Medium Enterprises (SMEs) is good news for Nigeria’s SME operators who have for years been hampered by lack of access to financial support. Coming at this time of economic recession, it is a most welcome development.
This intervention is coming against the backdrop of the planned takeoff of the Development Bank of Nigeria (DBN). The Minister of Finance, Mrs. Kemi Adeosun, revealed the funding package at the post-event briefing of the recently-concluded annual meeting of the International Monetary Fund and the World Bank in Washington DC, United States. Read more
EU threatens to stop market access for Nigerian products over EPA
There is strong indication that the European Union will after October 2016, terminate the Temporary Free Market Access it granted Nigeria and other ECOWAS member States to export their products to the Union. This is because of Nigeria’s failure to sign the Economic Community of West African States (ECOWAS)/European Union (EU) Economic Partnership Agreement (EPA) over the past six years. Read more
NFF set to hike match ticket for Algeria
Nigerian football fans who would be in Uyo to cheer the Super Eagles in the Russia 2018 World Cup qualifier against Algeria next month should be prepared to pay good money to purchase their match ticket.
Daily Sunsports gathered exclusively yesterday that the nation’s soccer governing body, NFF and the Akwa Ibom State Government have resolved to hike the cost of tickets for the match as one of the crowd control measures they are putting in place ahead of the big game.
It would be noted that the Uyo Nest of Champion was filled to the brim when the Eagles hosted Tanzania there last month in match that was only a dead rubber. Read more
Dalung hails Nigerian Army sports festival
The Youth and Sports Minister, Solomon Dalung has congratulated the Nigerian Army for a successful hosting of the Nigerian Army Sports Festival NASFEST.
At the closing ceremony held yesterday at the main bowl of the National Stadium Abuja, the Minister praised the leadership of the Nigerian Army under the Chief of Army Staff, Lt. Gen TY Burattai for resuscitating the sports festival after seven years due to insecurity caused by insurgency. Read more
Playing for Nigeria cost Mikel Chelsea place – Dimeji
Dimeji Lawal says he is amazed by some of the criticism Nigeria captain Mikel Obi has faced as Chelsea manager Antonio Conte continues to overlook him.
Mikel, who is Chelsea’s second longest serving player after John Terry, has not featured for the Premier League giants since the beginning of the season. Read more
Enyimba players gutted by Fed Cup ouster, says Udoh
Mfon Udoh has stated that Enyimba are disappointed by their inability to qualify for the 2016 Federation Cup final which has ended their hope of playing in the 2017 CAF Confederation Cup.
The team bowed 1-0 to Nasarawa United at the Lekan Salami Stadium, Ibadan and the forward said the People’s Elephants experienced some setback in their preparations for the encounter. Read more
How Conte saved Moses career
Chelsea manager Antonio Conte has hailed Nigeria winger Victor Moses as the player continues to thrive in his new role at the Premier League side.
In his second start for the Blues, Moses scored a goal in the 3-0 defeat of Premier League champions Leicester City at Stamford Bridge on Saturday. Read more
Amidst Fanfare, Special Olympics Nigeria Celebrates 2016 EKS Day
In an effort to commemorate the 2016 Eunice Kennedy Shriver (EKS) Day, Special Olympics Nigeria yesterday organised a Healthy Communities initiative (HC) at the Teslim Balogun Stadium, Surulere, Lagos.
The Healthy Communities initiative is meant to create communities where Special Olympics athletes and others with intellectual disability have the same access to health and wellness resources and can attain the same level of good health as all community members. The theme of this year’s Healthy Communities initiative was “special smiles and opening eyes”. Read more
Three Kentucky men are arrested in connection with the shooting death of Olympic sprinter Tyson Gay’s 15-year-old daughter
Three men have been arrested in connection with the shooting death of Olympian Tyson Gay’s 15-year-old daughter Trinity in Kentucky.
Lexington police have charged Dvonta Middlebrooks, 21, with wanton endangerment and possession of a firearm by a convicted felon, according to WKYT. Read more
British soldier confesses ‘mercy killings’ of Iraqi troops
A British soldier faces jail after admitting to killing mortally wounded Iraqi troops during the 2003 invasion.
Former SAS sergeant Colin Maclachlan has said he is being investigated by military police after he revealed the details of the Iraq War incident in a new book. Read more
China launches longest manned space mission, aims to explore ‘more deeply and more broadly’
China’s march into space took another step forward Monday, as two astronauts embarked on the nation’s longest manned mission.
The pair aim to dock with an orbiting space lab and remain aboard for 30 days, a crucial step in China’s plans to operate its own space station by 2022, and part of a much broader space program that has ambitions to put astronauts back on the moon and land an unmanned rover on Mars. Read more
Trump: ‘Animals representing Hillary Clinton firebombed our office’
Republican offices in North Carolina are re-examining their security after a firebomb attack at the state’s Orange County headquarters.
Police say a petrol bomb was thrown through the window of the office in the town of Hillsborough and the words “Nazi Republicans leave town or else” were spray-painted on a nearby building. Read more