Sabinews Daily Morning News Update for February 3, 2015
National News
Bomb explodes near Jonathan’s campaign ground in Gombe
Tragedy struck the Peoples Democratic Party (PDP) yesterday, as a female suicide bomber exploded a bomb near the Pantami Stadium in Gombe, Gombe State, a few minutes after President Goodluck Jonathan finished his rally.
Five people, including the female bomber died in the blast, while seven others were injured. Read more
FG lawyers shut down Justice Ministry
As early as 7a.m., the Federal Ministry of Justice also housing the office of the Attorney General of the Federation (AGF) was yesterday shut down by aggrieved protesters under the umbrella of Law Officers Association of Nigeria (LOAN) over issues bordering of welfare of members.
National president of the protesting lawyers, who are employed by the Federal Ministry of Justice, Mr. Solomon Ibhadon led the peaceful protest to kick-start a three-day working strike for the implementation of the circular for the harmonisation and payment of peculiar allowances to law officers in the Federal Ministry of Justice. Read more
NEITI, NSITF to Bring Extractive Workers Under Employees’ Compensation Scheme
The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Nigeria Social Insurance Trust Fund (NSITF) have agreed to strategically work towards bringing employers of labour in Nigeria’s minerals extractive sector to comply with the tenets in the country’s Employees’ Compensation Scheme (ECS).
Following the federal government’s enactment of the Employees’ Compensation Act in 2010, which mandated the NSITF to implement provisions in the Act through the ECS, starting from July 2011, the former provision – Workman Compensation, which was operated by private insurance companies and reportedly replete with inadequacies has now become obsolete. Read more
Nigerian Troops Bombard Sambisa Forest
As part of measures to contain and quell the Boko Haram insurgency, the military has stormed the insurgents in Sambisa Forest, their notorious hideout, according to reports from the Hausa service of the British Broadcasting Corporation (BBC).
The director of defence information, Maj-Gen Chris Olukolade, told the agency that the military had been raiding the forest and other hideouts of the sect since Tuesday night. Read more
Business mogul, Molade Okoya-Thomas, dies at 79
The Nigerian business community was yesterday thrown into mourning, following the death of business mogul and philanthropist, Chief Molade Okoya-Thomas. The eminent businessman was 79.
Until his death, he was the Chancellor of Lagos State University and chairman of CFAO Nigeria Limited. Apart from this, Nigerians would remember him for his commitment and sponsorship of the popular annual Asoju Oba Table Tennis Championship in Lagos. Read more
Four Nigerian banks among top 500 globally
A new report has listed First Bank of Nigeria Limited, Zenith Bank Plc, Guaranty Trust Bank and Access Bank Plc among the top 500 banks in the world.
The United Kingdom-based magazine owned by the Financial Times, The Banker, and Brand Finance in London, in their annual 2015 top 500 banking brands, also ranked First Bank of Nigeria as the number one banking brand in the country for the fourth consecutive time. Read more
ECOWAS parliament advises FG on credible polls
The parliament arm of the Economic Community of West African States on Monday urged the Federal Government of Nigeria to ensure a peaceful conduct of the forthcoming general elections in the country.
The regional parliamentarians made the call at the opening of its Extraordinary Session, held in Abuja. Read more
ICC will Prosecute Politicians Who Incite Violence
The International Criminal Court (ICC) said on Monday it would prosecute any Nigerian political actor linked to the commission of violence before, during and after the country’s general election.
ICC, in a statement issued by its Prosecutor, Fatou Bensouda, urged parties to the peace accord signed recently in Abuja to abide by their commitment to maintain peace. Read more
Boko Haram Not in Control of Any LG, Declares FG
The federal government on Monday said members of the Boko Haram sect had no sufficient authority to control any part of the country, declaring that the sect was not controlling of any of Nigerian’s territory.
The government also said elections would hold in parts of the troubled North-eastern part of the country, considered safe enough for the exercise. Read more
Nigeria Must Avoid Malian Experience, Says Nyiam
A member of the 2014 National Conference, Col Tony Nyiam (rtd), has cautioned against allowing the conduct of the election to fuel further violent crisis which might lead to the disintegration of the country.
Nyiam, who spoke at a symposium on the national conference and the 2015 elections organised by the HH Macaulay Centre for the Advancement of Democracy in Abuja, said there is currently a looming danger in allowing the nation to go into an election while under serious threat by insurgents. Read more
Stowaway Took Advantage of Security Laxity at MMIA
The teenager, Samuel Ogunbiyi, who attempted to stow away on a private jet owned by Tag Aviation parked at the Execujet Aviation private terminal, was said to have taken advantage of the porous security at the airport.
However, the CEO of the company, Peter de Waal, said that more security personnel had been deployed at the airside through which Ogunbiyi sneaked into the private terminal operated by the international Fixed Based Operator (FBO). Read more
Economy
Naira eases despite CBN dollar sale
The naira shed 1 per cent on Monday despite a Central Bank of Nigeria (CBN) intervention meant to lift the currency and dollar sale from oil firm, Shell, dealers said.
The local currency, which opened at N188.70 to the dollar, firmed after the dollar sale. But it then dipped following a surge in demand to close at N189.25. The naira closed at N187.50 on Friday. Read more
Ghana-Nigeria trade-war must end – Ambassador
Ghana and Nigeria’s persistent trade war must be resolved through the adoption of strategic and innovative ways to deepen social and economic diplomacy within the sub-region, Ambassador William Azumah Awinador-Kanyirige, Ghana’s High Commissioner to Nigeria, has said.
Trade relations between the two leading nations in the West African sub-region — with a combined population of 200 million — has been chequered, with both sides accusing each other every so often of protectionist tactics. Read more
Emefiele: Nigerians to pay transport fares electronically
Nigerians will going forward, pay for both inter-city and intra-city transportation electronically, the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has said.
Emefiele, who made this known at the inauguration of the Payment System Vision 2020 (PSV2020) in Lagos, said the new shift is in line with his determination resolve to reduce the use of cash not only in transportation but across other segments of the economy including salaries payment in government agencies. Read more
CBN issues guidelines for N300b facility
The Central Bank of Nigeria (CBN), on Monday, issued guidelines on the operational modalities of its N300 billion Real Sector Support Facility (RSSF).
The RSSF was established as part of efforts to unlock the potential of the real sector to engender output growth, value added productivity and job creation. Read more
Buhari seeks partnership with OPS on economy
Presidential candidate of the All Progressives Congress, APC, General Muhammadu Buhari, has said Nigeria has for long been wallowing in darkness due to failure of the country’s elite to do the right thing. The APC presidential hopeful said this yesterday during a meeting with the organised private sector at the State House, Marina, Lagos. Read more
Oil and Gas
Jonathan receives forensic audit report on NNPC, promises swift action
President Goodluck Jonathan yesterday received the forensic audit report on the activities of the Nigerian National Petroleum Corporation (NNPC) with a promise to swiftly implement its findings. This audit was instituted last year following allegations that $20 billion was not remitted to the nation’s coffers.
But while receiving the report, the President assured it would be handed over to professionals led by the Auditor General of the Federation for swift action to satisfy the yearning of Nigerians who demanded to know the truth about the alleged missing funds. Read more
Crude export to rise by 150,00bpd as Shell reopens Nembe pipeline
Nigeria’s crude oil export is set to increase by about 150,000 barrels per day, as Shell Petroleum Development Company, SPDC, yesterday, announced the reopening of the Nembe creek crude oil pipeline, which was shut down due to sabotage.
Using the current crude oil price of $55 per barrel, this will translate to an increase of $8.25 million, about N1.403 billion in Nigeria’s daily crude oil earnings. Read more
Nigerian Refineries’ Capacity to Hit 1mpd by 2017
A former General Manager of the Warri Refinery and Petrochemical Company, Mr. Babajide Soyode, has stated that by 2017, Nigerian refineries would have the capacity to process one million barrels of crude oil per day, against the current capacity of 445,000 barrels per day.
Speaking at the 80th Birthday Anniversary dinner, organised in Lagos for the first Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Festus Marinho, the former Warri Refinery boss stated that several plans by government for small refineries would come on stream by 2017. Read more
World News
Reserve Bank cuts rates to 2.25% as economic outlook worsens
The Reserve Bank of Australia attempted to kickstart the struggling economy on Tuesday by cutting the cash rate by a quarter of a point.
Citing weak domestic growth, the decline in commodity prices and the threat of rising unemployment, Governor Glenn Stevens announced the decision to ease the cash rate from its already historic low of 2.5% to 2.25%, offering the promise of the cheapest home loans for 40 years. Read more
Cuba sounds warning ahead of next round of U.S. talks
Cuba warned the United States on Monday that it wants American diplomats to scale back aid for Cuban dissidents before the two countries can reopen embassies in each other’s capitals.
The long-time adversaries are negotiating the restoration of diplomatic relations as a first step toward reversing more than five decades of confrontation. Officials for both governments met in Havana in January and a second round of talks is expected to be held in Washington this month. Read more
Police Say Arson Attack on Packed Bus Kills 7 in Bangladesh
Unidentified attackers threw petrol bombs on a packed passenger bus, leaving at least seven people dead and 16 others injured early Tuesday amid a nationwide general strike enforced by an opposition alliance calling for new elections in Bangladesh.
Local police chief Uttam Chakrabarty said the pre-dawn attack took place in the eastern district of Comilla when passengers were asleep on a trip to Dhaka from the southern coastal district of Cox’s Bazar. The area is about 90 kilometers (55 miles) east of the capital. Read more
China broadens graft probe into financial sector
Bank of Beijing Co Ltd board director Lu Haijun is under investigation for serious disciplinary violations, the bank said, the latest high-ranking banker to fall under scrutiny as China’s anti-corruption drive turns to the finance sector.
The investigation comes after China Minsheng Banking Corp’s president, Mao Xiaofeng, resigned on Saturday for personal reasons after media reports that he was being investigated by China’s anti-corruption watchdog. Read more
Ukraine crisis: US considers ‘lethal aid’ to government
The US administration is considering whether to send arms to help the Ukraine government against pro-Russian rebels in the east, US media report.
They suggest officials are exploring the possibility of sending defensive weapons and other lethal aid. Read more
Power
CBN Disburses N18.26bn to Five Power Companies
The Central Bank of Nigeria (CBN) on Monday commenced the disbursement of a total of N18.26 billion to five electricity distribution and generating companies as part of its N213 billion Nigerian Electricity Stabilsation Facility to the power sector.
The first beneficiaries of the special CBN power sector intervention facility include the Eko Electricity Distribution Company Plc and Ibadan Electricity Distribution Company Plc which received cheques valued at N5.16 billion and N11.36 billion respectively. Read more
Sports
Afcon 2015: Pinnick, Bassey, Falode on semi-final duty
Nigerian officials continued to make good impression at the ongoing 30th Africa Cup of Nations (AFCON), with the president of the Nigeria Football Federation (NFF), Mr Amaju Pinnick and two others already selected to play key roles in Thursday’s second semi final in Equatorial Guinea.
Designations released on Monday showed that the Confederation of African Football (CAF), which rated the NFF president as number one among all the match commissioners who were on duty for the 28 matches of the group phase and quarter-finals, has again named Pinnick as the match commissioner for the tie between Ghana and host Eqautorial Guinea on Thursday evening. Read more
Adeseun expresses confidence in NFF board
A member, Senate House committee on sport, Honourable Ayoade Adeseun has expressed confidence in the current board of the Nigeria Football Federation (NFF), saying that the board has started on a sound footing.
Adeseun while speaking with Tribunesport on Monday though lamented Nigeria’s absence in the ongoing African Cup of Nations (AFCON) in Equatorial Guinea, but added he still has absolute confidence in the Amaju Pinnick-led board. Read more
Yakubu joins Reading, Ideye to Qatar
It was a busy day for some Nigerian players in the various leagues in Europe as the January Transfer Window closed on Monday.
The biggest move involving a Nigerian was with English Championship side, Reading FC, as a former Super Eagles forward, Yakubu Aiyegbeni joined the club. The deal was sealed on a free transfer till the end of the season. Read more
Mfon Udoh signs for Ismaily
Supersport.com can reveal that Nigeria Professional Football League (NPFL) record top scorer and League Bloggers Awards (LBA) Player of the Season, Mfon Udoh, has joined top Egyptian side, Ismaily Sporting Club, on a four-and-a-half year deal.
Udoh scored a record 23 goals during the 2013/14 Glo Premier League season to emerge top scorer and erased the previous 20-goal mark set by Jude Aneke. Read more
Garba will win Nigeria’s first U-20 W/C, insist organisers
Having clinched the Super 6 securing 13 points from an available 15, finishing as highest scoring team (11) and conceding five, the Flying Eagles have been tipped as the first team to win the U-20 World Cup.
Manu Garba will likely stick with the bulk of players from his triumphant U-17 team in the UAE, the likes of Musa Moh’d, Chidera Ezeh, Musa Yahaya and co. Read more
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