*Six CBN officials, 16 others to face trial for N8b ‘fraud’* *Ifeanyi Ubah Seeks Probe of Oil Marketers*

*Six CBN officials, 16 others to face trial for N8b ‘fraud’* *Ifeanyi Ubah Seeks Probe of Oil Marketers*

Sabinews Morning News Update for June 1, 2015


Six CBN officials, 16 others to face trial for N8b ‘fraud’

Six Central Bank of Nigeria (CBN) officials and 16 others from some commercial banks are to face trial for alleged N8 billion fraud, the Economic and Financial Crimes Commission (EFCC) said yesterday.

The suspects, the agency alleged, stole and recirculated defaced and mutilated currencies. Read more

3 policemen killed in clashes with oil thieves

At least, three police officers and a tanker driver, whose identity were yet to be ascertained, have been shot dead by suspected illegal oil bunkerers.

The incident occurred at Oguda area in Okene Local Government Area, a border town between Kogi and Edo states known to be a notorious haven for oil thieves, who are in the habit of stealing petroleum products from NNPC pipelines. Read more

Buhari appoints Adesina, Shehu as spokesmen

President Muhammadu Buhari last night appointed his spokesmen in the first set of appointments made by his administration.

Managing Director/Editor-in-Chief of The Sun Mr. Femi Adesina is Special Adviser (Media and Publicity). Mallam Garba Shehu is Senior Special Assistant (Media and Publicity). Read more

Family seeks freedom for Boko Haram suspect

The family of an Islamic Studies lecturer at the Kogi State University, Dr. Nazif Yunus, who was arrested on the suspicion that he is a member of the militant sect, Boko Haram, has demanded his immediate and unconditional release.

They said that their breadwinner is not a member of Boko Haram and that his continued detention is an act of injustice. Read more

Boko Haram bombs Maiduguri market, burns Yobe court

An Improvised Explosive Device believed to have been planted by suspected members of Boko Haram on Sunday exploded at the Gamboru Market in Maiduguri, Borno State.

No death was recorded but four persons were critically injured in the incident which occurred barely 24 hours after 26 persons were reportedly killed   when the sect members bombed a Monday market in the city. Read more

Amnesty: December termination date draws ire of N-Delta youths, ex-militants

The December deadline set by President Muhammadu Buhari for the termination of the presidential amnesty programme for ex- militants in the Niger Delta has drawn the ire of Niger Delta youths and former militants, with the Ijaw Youth Council, IYC, and ex-militants under the aegis of Third Phase Amnesty, faulting the deadline.

IYC expressed disappointment that the President failed to address key issues dear to the Niger Delta such as clean up of the environment, implementation of the United Nations Environmental Programme, UNEP report on Ogoni and tackling the menace of oil theft which has greatly contributed to environmental degradation in the Niger Delta region which he promised to tackle during his presidential campaigns. Read more

Council chair slumps, dies in Nasarawa

Karu Local Government Chairman in Nasarawa State, Godwin Chindo, last Saturday slumped and died in his office.

The late local government boss was reported to have slumped and died Karu Local Government Area secretariat. Read more

Wike Dissolves Board of Greater Port Harcourt Authority

The Rivers State Government has announced the dissolution of the Board of Directors of the Greater Port Harcourt Authority with immediate effect.

A statement issued in Port Harcourt on Sunday evening by Mr. Emma Okah on behalf of the state government, said the former administrator of the authority had been directed to handover the administration and all property of the authority in her possession to the secretary of the authority with immediate effect. Read more

Niger to downsize workforce

Niger State Governor, Alhaji Abubakar Sani Bello, said his administration will embark on reforming, restructuring and downsizing the civil service to cope with the pace of his administration for effective and efficient service delivery to people of the state.

Delivering his inaugural address at Bako Kontagora Stadium, Minna, Bello said his government inherited a bloated, disillusioned, unproductive and least paid civil service in the country, just as bulk of the states’ earning were spent on paying workers. Read more

Benue owes N9.5bn –Ortom

Benue State Governor, Samuel Ortom, says the debt profile left by the immediate past governor of the state, Gabriel Suswam, stands at N9.5bn.

Ortom made the revelation yesterday at a church service organised in his honour by the Redeem Christian Church of God in Makurdi, the state capital. Read more

69 die, 15 vehicles burnt in Onitsha petrol tanker fire

Onitsha the Southeast’s commercial capital, was thrown into mourning yesterday as no fewer than 50 persons were burnt to death from the fire that broke out after a fuel-laden tanker rammed into a building.

At least 15 L300 buses were also burnt. The tragedy occurred at about 3pm at Upper Iweka Roundabout when the tanker conveying fuel to Asaba in Delta State fell and got burnt. Read more

Campaign funds: Bishop urges EFCC to investigate CAN, TAN

The Economic and Financial Crimes Commission (EFCC) has been urged to investigate Transformation Ambassadors of Nigeria (TAN), Christian Association of Nigeria (CAN) and individuals accused of receiving money for campaigns in the last general elections.

Diocesan Bishop of the Anglican Communion, Kaduna, the Most Reverend Josiah Idowu-Fearon, spoke at the 20th synod of the church. Read more

I’ll Use AfDB to Build a New Africa – Adesina

Newly-elected president of the African Development Bank (AfDB), Dr Akinwunmi Adesina, has promised to work with African and non-African shareholders of the bank to build a new continent.

Adesina, who expressed appreciation to all those who supported him to attain his new height, also promised to work with all African governments to bring more inclusive economic growth across the continent. Read more

I won’t enter Govt House until September –Wike

The RIVERS State Governor, Chief Nyesom Wike, said on Sunday that he would stay away from the Government House in Port Harcourt for the next three months as a result of the vandalisation of the property in the place by the immediate past administration.

Wike, who spoke at the post-inauguration thanksgiving service in Port Harcourt, disclosed that all the vehicles in the Government House had been taken away. Read more


Skye Bank to raise N30b tier one capital in Q3

Skye Bank Plc has concluded arrangement to raise additional tier one capital of N30 billion during the third quarter of 2015 to boost its capacity to explore business and maintain an efficient capital adequacy ratio.

Group Managing Director/Chief Executive Officer of the bank, Timothy Oguntayo, stated this at a breakfast meeting with stockbrokers in Lagos recently. Read more

Oil operators fault CBN’s order on dollarisation

Indigenous players in the exploration and production (E&P) and the service sectors of the oil and gas industry have faulted the directive of Central Bank of Nigeria (CBN) banning the use of dollars in the country.

Acting under the aegis of Petroleum Technology Association of Nigeria (PETAN), the country is competing with others across the world. Read more

CBN releases 2013 controversial report

The Central Bank of Nigeria (CBN) weekend released the 2013 annual report that led to suspension of former governor, Sanusi Lamido Sanusi. The Financial Reporting Council of Nigeria had raised issues with the accounts, saying it needed some detailed explanation as required in the International Financial Reporting Standards.

It was on the basis of issues raised by the Council that the former CBN Governor was suspended. However, the CBN said that it has formally released its audited financial statements for 2013 and 2014 and has fully adopted the International Financial Reporting Standards (IFRS) for the financial statements. Read more

Nigeria’s real estate outgrows GDP at 8.7% —PwC

The Nigerian real estate sector is growing at a rate of 8.7 percent, which is faster than the average GDP growth rate of 7.4 percent, according to a new report by accounting and  auditing firm PricewaterhouseCoopers (PwC). In the report titled, “Real Estate: Building the future of Africa”, PwC also projected the country’s real estate investment to rise by about 49 percent, from $9.16 billion currently to $13.65 billion in 2016. It attributed the expected increase to a number of factors. Read more

Manufacturers count losses of economic lockdown

Nigerians are known for their resilience and never-say-die disposition. They have the uncanny ability to endure unsavory situations, smiling through them or shrugging them off. But in the last two weeks, it has been extremely difficult to extract a smile from Nigerians. The precarious state of the economy, especially in the days and weeks leading to the inauguration of President Muhammadu Buhari as Nigeria’s fifth democratically elected President on Friday, May 29, hardly gave anybody cause to smile. For the first time in history, there was zero electricity supply from the national grid. For three days, Sunday, May 24 to Tuesday, May 26, most residential, commercial and industrial consumers watched helplessly as their businesses crumbled under the weight of a major system collapse that plunged the nation into unprecedented darkness. Read more

Africa loses $774m to illegal tobacco trade

British American Tobacco Nigeria (BATN) has spoken of  the need for greater understanding of the illegal tobacco trade, the criminals behind it and the need for greater cooperation to fight it.

This call came as part of a new campaign, developed by BATN, to raise awareness of the facts around the illegal tobacco trade to coincide with the WHO’s World No Tobacco Day. Read more

Oil and Gas

Subsidy removal’ll reduce pressure on Naira — FDC

Analysts at the Financial Derivatives Company Limited have expressed support for the removal of fuel subsidy saying it would reduce the pressure of the exchange rate of the naira and lead to long term appreciation of the national currency. “More importantly, because there is an inflated import bill due to the subsidy scam, subsidy removal will reduce the pressure on the currency and the naira will appreciate in the medium term”, they said in the FDC Economic Bulletin issued last week. Read more

Ifeanyi Ubah Seeks Probe of Oil Marketers

The call for the removal of fuel subsidy is amounting on President Muhammadu Buhari, given the recent nasty experience of Nigerians over fuel scarcity in the country. Perhaps in an attempt to curry the favour of the new administration, Ifeanyi Uba who is reported to have brokered the present ease in the petroleum market, and a known beneficiary of subsidy, on Sunday called for the deregulate of the downstream sector of the petroleum industry by removing subsidy on premium motor spirit (petrol) and kerosene. Read more


he Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has urged President Muhammadu Buhari to scrap the Subsidy Reinvestment Programme (SURE-P), arguing that the N21billion is provided for its operations in the year’s budget should be spent on infrastructure.

Its President, Mr. Francis Johnson, alleged the SURE-P was set up by former President Goodluck Jonathan to settle some people, adding that it was the major reason for the problem of integrity that dogged the implementation of the programme. Read more

NUPENG recants, supports fuel subsidy removal

Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, said it has reversed its initial position on the removal of subsidy on petroleum products.

It said oil and gas workers are now in support of total removal of subsidy. Read more


Brazil Beat Flying Eagles in Six-Goal Thriller

A brace from Judivan inspired Brazil to a 4-2 win over Nigeria in an enthralling FIFA Under 20 World Cup encounter at the Taranaki Stadium in New Plymouth, New Zealand on Monday. Read more

S.Africa admits paying $10-M but denies FIFA bribe

South Africa admitted Sunday that it paid $10 million in 2008 but denied it was in any way a bribe to FIFA for the 2010 World Cup, in the latest twist to the massive corruption scandal engulfing world football’s governing body.

Two separate investigations are being carried out by American and Swiss authorities for alleged rampant and long-running corruption within FIFA, with several top officials arrested and accused by US investigators of taking tens of millions of dollars in bribes. Read more

Keshi condoles Emenike over father’s death

On behalf of the Super Eagles, manager Stephen Keshi has consoled Fenerbahce striker Emmanuel Emenike over the death of his father, Pa Felix Emenike Ndukwu.

“I can imagine what Emma is going through at the moment, the pain and the sense of loss that comes with losing someone as close and dear as one’s father. Read more

Deadly Falcons Thump Woodbridge Ladies 9-0

Nigeria’s senior women national team whitewashed WoodBridge senior women club 9-0 in their second pre-World Cup friendly match played at the WoodBridge Soccer Centre on Sunday morning.

Substitute Francisca Ordega’s hat trick, Courtney Dike’s brace and a goal each from Asisat Oshoala, Ngozi Okobi, Francisca Ordega, Perpetua Nkwocha and Esther Sunday boosted Edwin Okon’s team ahead of the Fifa Women’s World Cup. Read more

Ahmed Musa to report late to Eagles’ camp

CSKA Moscow forward, Ahmed Musa will not be reporting to the Super Eagles’ camp on June 3 like other foreign-based players invited for the 2017 African Nations Cup (AFCON) qualifier against Chad.

SportingLife learnt that coach Stephen Keshi has granted an extended deadline to the pacy Eagles forward to enable him attend to some crucial personal issues. Read more

Keshi ready to recall Anichebe

The Chief Coach of the Super Eagles, Stephen Keshi, is ready to recall self-exiled Eagles attacker, Victor Anichebe if the player rescinds his earlier decision not to play for Nigeria.

The West Browmwich Albion forward has been on a self-imposed exile from the Nigerian national team for some time now, even before Keshi took over the handling of the team in November 2011. Read more

NFF Confirms S’Eagles Arrival’s Date

The Nigeria Football Federation has confirmed that the Super Eagles would arrive in Kaduna for the June 13, 2015 Africa Cup of Nations qualifier against Chad on Sunday, June 7, 2015. he team will stay at the Africa Continental Hotel.

Coach Stephen Keshi, while unveiling his team’s programmes, said that the Super Eagles would conclude its training in Abuja this weekend and proceed to Kaduna for the final phase of preparations ahead of the encounter. Read more

World News

UN urges all parties in Burundi to engage in talks

At the conclusion of his two-day visit to Burundi, Adama Dieng, the United Nations Special Adviser on the Prevention of Genocide, warned of increased tensions and the risk of further violence, unless all parties engage in open dialogue to resolve the crisis and calm tensions.

“He urged the Government to guarantee respect for human rights, including freedom of opinion and expression, noting that the absence of independent voices through non-State media was contributing to tensions,” said a statement released from Burundi’s capital of Bujumbura. Read more

Trial of two pastors resumes in Khartoum with investigator testimony

A court in Khartoum resumed its sessions in the trial of two pastors from South Sudan charged with espionage and trying to foment sedition and incite hatred among tribes and religious sects.

Reverend Yat Michael and Reverend Peter Yen – of the South Sudan Presbyterian Evangelical Church (PEC) – have been detained by Sudan’s National Intelligence and Security Services (NISS) in Khartoum at two separate occasions. Read more

UEFA plotting breakaway ‘World Cup’

A European Championship every two years with invites to other big football countries outside Europe is one of the proposals UEFA are putting forward in the fight against FIFA corruption.

The initiative would see all the top-ranked teams in world football take part in a competition that would not be under the jurisdiction of Sepp Blatter’s administration. Read more

Greece, creditors agree on need for quick deal as talks continue

Greece and its European creditors agreed on the need to reach a cash-for-reforms deal quickly as Athens missed a self-imposed Sunday deadline for reaching an agreement to unlock aid, sources close to the talks said.

Athens and its euro zone and International Monetary Fund (IMF) creditors have been locked in talks for months on a reforms agreement. Without a deal, Athens risks default or bankruptcy in weeks. Read more

China to hold live fire drills along tense border with Myanmar

China’s military will hold land and air live fire drills along a part of the border with Myanmar where shells have fallen during fighting between the Myanmar government and ethnic Chinese rebels, the Defence Ministry said on Monday.

China has been angered by repeated incidents of shells or bombs from the fighting falling in Chinese territory, in which at least five Chinese have died, and thousands of refugees have crossed into China’s southwestern province of Yunnan to escape the clashes. Read more

Venezuela’s Speaker, Diosdado Cabello, vows to sue over cocaine ring reports

Venezuela’s National Assembly Speaker, Diosdado Cabello, said on Sunday he planned to file lawsuits in Spain and the US following media reports linking him and other top officials to cocaine trafficking and money laundering.

The Wall Street Journal two weeks ago reported that US federal prosecutors were gathering evidence from former cocaine traffickers and military defectors as part of an investigation into Cabello, No 2 of the ruling Socialist party. Read more

Netanyahu slams Palestine over Israel boycott campaign

Israel faces an “international campaign to blacken its name” aimed at delegitimizing its very existence regardless to its policies, Prime Minister Benjamin Netanyahu said Sunday. The international community disproportionally singles out the Jewish state for condemnation while remaining silent on major conflicts and human rights abuses in other countries, he said. Read more

US in talks with Qatar over returning five Taliban fighters to Afghanistan

The United States is in talks with Qatar on the status of five Taliban figures who may be free to return to Afghanistan a year after their release in a US prisoner swap, the head of the CIA said Sunday.

“I want to make sure that they’re not going to be allowed to return to the fight,” Central Intelligence Agency director John Brennan said on CBS talk show “Face the Nation.” Read more

Isis captured 2,300 Humvee armoured vehicles from Iraqi forces in Mosul

Iraqi security forces lost 2,300 Humvee armoured vehicles when the Islamic State jihadist group overran the northern city of Mosul, the prime minister Haider al-Abadi said on Sunday.

“In the collapse of Mosul, we lost a lot of weapons,” Abadi said in an interview with Iraqiya state TV. “We lost 2,300 Humvees in Mosul alone.” Read more




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