Sabinews Daily News Update for September 21, 2015
Boko Haram Insurgents Flee, Abandon Items – Army
The Army has said that Boko Haram terrorists are fleeing their camps, abandoning their vehicles and food items at Kotambe Kote and Jere axis, Borno State.
This was made known in a statement by the army spokesman, Colonel Sani Usman, through PR Nigeria. Read more
Bomb Explosions Rock Maiduguri, Scores Feared Dead
Several persons were last night feared killed in multiple bomb explosions which rocked Maiduguri, the Borno State capital.
According to residents of the town, two of the bombs which were planted at a mosque, exploded at about 7.30p.m. when the Muslims congregated to observe their prayers.
The other explosion occurred almost simultaneously at a close distance from the mosque at a joint where teenagers gathered to play computer games. Read more
Okorocha gets approval to borrow N20bn
Imo citizens may be grappling with a staggering debt of over N80 billion if Governor Rochas Okorocha goes ahead to take the Federal Government approved N20 billion proposed bond issue.
Currently, the state is owing over N60 billion, including the Federal Government’s N26 billion bailout fund, which is expected to be paid back in 20 years. Read more
NCAA Grounds Foreign-Registered Aircraft over Illicit Clearance Certificate
The Nigerian Civil Aviation Authority (NCAA) has grounded two foreign-registered aircraft with immediate effect due to alleged falsified clearance document.
According to statement issued by the regulatory authority and signed by the acting General Manager, Sam Adurogboye, the aircraft are Bombardier 700-100 with registration marks G-RBEN Global express S/N 9083, operated by Gama Aviation, United (UK) Limited and Embraer 135 J with registration marks XA-MHA. Read more
Leave PMB Out Of Saraki’s Legal Travails – Presidency
The presidency yesterday distanced itself from ongoing trial of the Senate president, Senator Bukola Saraki, saying attempts to link his legal travails to President Muhammadu Buhari was unacceptable.
According to it, the view that the Code of Conduct Bureau (CCB) and the Code of Conduct Tribunal (CCT) can only act upon external instigation was equally uninformed. Read more
Lagos Approves Seven-day Payment Regime for Traffic Offenders
The Lagos State Government on Sunday approved a seven-day regime, which it said, would allow any traffic offender that flouted any section of the 2012 Road Traffic Law pay their fine within the time frame.
The regime was a sharp contrast to an approach adopted by the administration of former Governor Babatunde Fashola during which vehicles were impounded on the spot of enforcement and offenders paid demurrage on every day their vehicle spent on the state’s custody. Read more
Expect more rains, flooding from Sept 27
With the 2012 flooding which decimated everything in its path still fresh in every mind, Nigerians have again been warned to brace up for heavier rains and their attendant flooding. Thirty states of the federation will suffer the most, the Director General of Nigerian Metrological Agency (NIMET), Mr. Anthony Anuforo, has revealed. He added that Lagos in particular, and other parts of the country would be inundated with flood water starting from September 27, 2013. He harped on the essence of heeding to early warnings to help prevent fatalities and possibly reduce other losses that might occur. Read more
Ooni: Lafogido Blames Late Oba Aderemi For Ascendancy Crisis
One of the contenders to the Ooni of Ife stool, the Lafogido Ruling House on Sunday accused the state government and Ife Traditional Chiefs and Kingmakers of ignoring the 1992 Justice Adewale Babalakin Panel of Inquiry on the Ife Chieftaincy Stool when they (government and Kingmakers) asked Giesi Ruling House to present candidate(s) to fill the vacant stool of Ooni of Ile-Ife. Read more
Buhari says no to Naira devaluation
President Mohamadu Buhari may have, so far, given the clearest preview of his blueprint for the revival and sustenance of inclusive growth of the Nigerian economy, in a recent interview with a French media house, in Paris. Buhari’s observation on the Nigerian currency was that “the naira has been devalued, as it used to be around N140/$ and now it is hovering around N200/$ and above”. Consequently, the President cautioned that “I don’t think it is healthy for us to have the Naira further devalued”. Read more
Equities Market Ends Week In Red, Drops 0.25%
After recording marginal growth on Thursday, equities market suffered a setback on Friday when the twin indicators, the All Share Index and Market Capitalisation depreciated by 0.25per cent each.
Market Capitalisation depreciated by N26.707 billion to close at N10.424 trillion as against N10.451 trillion recorded at the close of trading on Thursday while the All Share Index went down by 77.71 basis points or 0.25per cent to close trading at 30, 332.68 points compared with 30, 410.39 recorded on Thursday. Read more
Stock investors trapped in 52-week loss of N2.6trn
Investors’ appetite in the Nigerian stock market remains watered by a colossal loss in excess of N2.6trillion traced over a 52-week period to June 30 2015.
BusinessDay checks at the Nigerian Stock Exchange (NSE) “fact sheet” over that period shows more of negatives across major traceable gauges like average daily transactions (volume and value of stocks traded), and value of listed equities and bonds. Read more
Financial stocks lift NSE’s volume by N13.9billion
Transactions in the shares of some banks and insurance companies, last week, enhanced the volume of shares traded on the Nigerian Stock Exchange (NSE), as a turnover of 1.384 billion shares worth N13.862 billion was recorded in 17,984 deals.
This volume of shares traded was, however, higher than a total of 1.408 billion units, valued at N13.508 billion that changed hands in 19,950 deals during the preceding week. Read more S & P rating highlights emergence of Nigeria’s non oil sector
S & P rating highlights emergence of Nigeria’s non oil sector
Standard and Poor’s Ratings Services affirmation of Nigeria’s long- and short-term foreign and local currency sovereign credit ratings at ‘B+’, on Friday is a signal of the emergence of Nigeria’s non oil sector and a ringing endorsement of the new government and its policies.
S&P said the outlook on Nigeria is “stable”, reflecting its view that Nigeria’s non-oil economy will continue to support growth in its gross domestic product. Read more
TSA guidelines under review – FG
The implementation of the Treasury Single Account for ministries, departments and agencies has commenced and the guidelines to further strengthen the process are currently being reviewed, the Federal Government has said.
The government however said the modalities for the TSA implementation were clear and that no MDA could claim ignorance of what to do. Read more
Oil and Gas
ExxonMobil Accuses FG of Defaulting on JV Operations
The partnership between ExxonMobil and the federal government over oil and gas activities in Nigeria is being threatened as the latter has been accused of defaulting in meeting its side of cash call obligations under the joint venture assets held by the United States multinational and the Nigerian National Petroleum Corporation (NNPC).
Speaking at a business review section after the presentation of the 2015 Energy Outlook series held in Uyo, Akwa Ibom State, the Manager, Field Law Services of ExxonMobil, Mr. Omojuwa Oteri, said the company’s operation has experienced a 53 per cent decline because of failure of NNPC to honour its cash call obligations. Read more
Oil Wells: NNPC Gets N236.4bn Alternative Funding
The Nigerian National Petroleum Corporation (NNPC) said yesterday that it had secured a $1.2bn (N236.4bn) multi-year drilling financing package for 36 offshore/onshore oil wells under the NNPC/Chevron Nigeria Ltd Joint Venture to help supplement the federal government’s cash-call commitment.
The Corporation, in a statement by its group general manager, Group Public Affairs Division, Mr. Ohi Alegbe, said the funding package, financed by a consortium of Nigerian and international lenders, was an integral part of the Accelerated Upstream Financing Programme initiated by NNPC to address the perennial challenge experienced by the federal government in providing its counterpart funding of JV upstream activities. Read more
Modular refineries’ll combat oil theft, illegal refineries –NAPE
The construction of modular refineries in the Niger Delta is said to be capable of putting an end to the activities of illegal refineries while also reducing crude oil theft, the Nigerian Association of Petroleum Explorationists (NAPE) has assured.
The association equally said the move would address the incessant cases of shortage of petroleum products across the country. At a media interactive session in Lagos at the weekend, on the forthcoming Annual NAPE International Conference, President of NAPE, Mr. Chikwendu Edoziem, supported by the President-elect, Mr. Nosa Omorodion, and the Publicity Secretary, Mr. Anthony Ofoma, recommended that modular and micro refineries be built in the Niger Delta economic corridor. Read more
Petroleum Tanker Drivers Alert FG On Fuel Scarcity Plot
Petroleum Tanker Drivers branch of NUPENG on Sunday alerted the Federal government and security agencies of plans by those it described as disgruntled politicians to use some undesirable elements to forcibly cause disruptions to the current regular and unhindered supply of petroleum products across the country.
This is coming just as the union congratulated the government of President Muhammadu Buhari for the giant steps it has taken against insurgency in the country and pledged its support for the current onslaught against the destructive tendencies of corruption in the country. Read more
Enyimba Stunned, but Maintain Top Spot
El-Kanemi Warriors stunned six-time Nigeria Professional Football League (NPFL) club, Enyimba FC 2-1 on match day 30 but the Peoples Elephant remain top of the standings.
The leaders started sluggishly at the Karkanda Stadium, Katsina and were a goal down after just eight minutes after Benjamin Turba fired an unstoppable drive past the helpless Joshua Enaholo in goal for Enyimba. Read more
Dolphins FC moved away from the relegation zone
Godbless Asamoah got a brace for Dolphins with Omo Johnson getting the other while Bishop Onyeaudo got the consolation for the visitors.
The win lifts Dolphins away from the drop zone as Stanley Eguma’s charges have now notched up 34 points from 30 matches. Read more
Ighalo: Watford Survival My Top Priority
Nigeria and Watford striker, Odion Ighalo, has insisted that personal goals’ target in the Barclays Premier League was not his priority this season but for his team to remain in English top flight after a long absence.
Ighalo, 26, has scored four goals to emerge as one of the leading scorers in the EPL this season. “I don’t have a goals’ target as long as my team win, that’s the most important thing. I don’t care who scores,” Ighalo told AfricanFootball.com. Read more
Bomb defused outside Ghana Embassy in Egypt
Explosive experts in Egypt Sunday defused a bomb that had been planted outside the Embassy of Ghana located on the 26th of July Corridor Street in the district of Mohandessin, west of Cairo.
According to the Egypt Independent, the explosive experts, notably called the bomb squad, were notified by civilians in the area. Read more
Zimbabwe ruling party, opposition ‘held secret talks’ in Ghana, Kenya
President Robert Mugabe’s Zanu PF party is reportedly in secret talks with the opposition MDC-T and MDC, as the parties seek to save the southern African country’s struggling economy.
Reliable sources told the independent publication NewsDay that the talks were two-pronged. One of the objectives was for opposition parties to assist the Zanu PF government turn around the economy, including by bringing external support. Read more
Egypt’s Sisi swears in new government
Egyptian President Abdel Fattah al-Sisi kept his finance, investment and interior ministers in a new government sworn in on Saturday, state news agency MENA reported, as he tries to rebuild an economy battered by Islamist militant violence.
Sisi named former head of the state oil company Tarek al-Mullah as petroleum minister, charged with easing the country’s energy crisis and attracting more foreign investment in a strategic sector. Read more
Croatia Says 27,000 Migrants and Refugees Have Entered
Croatian police say about 27,000 migrants have entered the country since the surge started several days ago.
Police said Sunday that they are still expecting many more migrants to arrive from Serbia in the coming days. They say authorities are setting up tents for migrants to find shelter from rain and cold. Read more
Pope meets Fidel Castro after warning against ideology
Pope Francis met with Fidel Castro on Sunday after urging tens of thousands of Cubans to serve one another and not an ideology, delivering a subtle jab at the communist system during a Mass celebrated under the gaze of an image of Che Guevara in Havana’s iconic Plaza of the Revolution. Read more
Refugee crisis to test EU at summit of divided leaders
Bitterly-divided European leaders will seek to find a credible response to the continent’s worst migration crisis since World War Two at an emergency summit this week.
German chancellor Angela Merkel called on her peers on Sunday to accept joint responsibility. Read more
Comedies ‘Transparent’ and ‘Veep’ dominate early Emmys
Jeffrey Tambor won the best actor Emmy on Sunday for playing a father who transitions to a woman in the transgender comedy “Transparent,” giving Amazon.com a major boost for its original streaming content.
The lead actor win was the first Emmy Award for Tambor, 71, and the second of the early wins on Sunday for “Transparent,” which also won for directing. Read more
South Korea-backed app puts children at risk
Security researchers say they found critical weaknesses in a South Korean government-mandated child surveillance app — vulnerabilities that left the private lives of the country’s youngest citizens open to hackers.
In separate reports released Sunday, Internet watchdog group Citizen Lab and German software auditing company Cure53 said they found a catalog of worrying problems with “Smart Sheriff,” the most popular of more than a dozen child monitoring programs that South Korea requires for new smartphones sold to minors. Read more
Victorian MP says Turnbull as PM raises hope of better relations with the state
Victoria’s transport minister, Jacinta Allan, believes the appointment of Malcolm Turnbull as prime minister marked a “new direction in the dialogue” between the state and the federal government, a relationship which has been strained.
Unlike the former prime minister, Tony Abbott, Turnbull appeared open to funding major public transport infrastructure in the state, including the Melbourne metro rail project, Allan said. Read more