*El-Rufai Threatens Legal Action against False Report* *Proposed Siting of Nuclear Power Plant by FG in A’Ibom Rejected*

*El-Rufai Threatens Legal Action against False Report* *Proposed Siting of Nuclear Power Plant by FG in A’Ibom Rejected*

 Sabinews Morning News Update for July 3, 2015

National

El-Rufai Threatens Legal Action against False Report

Kaduna State Governor, Mallam Nasir El-Rufai, has threatened to take a legal action against a newspapers publication (not THISDAY) for allegedly publishing falsehood against him.

The newspaper had in its Thursday’s edition, published a story that the governor had declared his assets and that he was worth N90 billion with 40 mansions in Abuja and Kaduna. Read more

Proposed Siting of Nuclear Power Plant by FG in A’Ibom Rejected

The people of Akwa Ibom State have petitioned the state and federal governments rejecting the proposed siting of nuclear power plant in Itu Local Government Area of the state.

The petition followed the recent announcement by the Chief Executive Officer of Nigerian Atomic Energy Commission (NAEC), Mr. Franklin Erepamo Osaisai, that a Russian firm, Rostaom, has been commissioned to build two separate power plants in Kogi and Akwa Ibom States. Read more

Zakari Pledges to Address INEC’s Shortcomings

The newly-appointed acting Chairman of the Independent National Electoral Commission (INEC), Ambassador Amina Bala Zakari, has said he would strive to improve on noticeable mistakes the commission made during the last elections.

Against the background of protests from the Peoples Democratic Party (PDP) over her appointment, Zakari said she would build on the achievements of her predecessor and would continue working until a new commission is constituted. Read more

Crisis Brews in PDP over Principal Officers in National Assembly

As the ruling All Progressives Congress (APC) continues to grapple with the challenges posed by the allocation of the principal positions of the National Assembly, a similar crisis is brewing in the opposition Peoples Democratic Party (PDP).

Expectedly too, the situation in the PDP appears to have pitched some influential leaders of the party, including the immediate-past president, Dr Goodluck Jonathan and his wife, against the Deputy Senate President, Senator Ike Ekweremadu as well as Governor Nyesom Wike of Rivers State. Read more

Tribunal Rejects Akpabio’s Application to Stop Proceedings

The Akwa Ibom Legislative Election Petitions Tribunal sitting in Abuja has rejected moves by a former Governor of Akwa-Ibom State, Godswill Akpabio and Senator representing Akwa-Ibom South-west senatorial district, his party, the Peoples Democratic Party (PDP) and one other to stall proceedings before the tribunal.

The Justice Goddy Anunihun-led tribunal, in a ruling on Thursday, refused the prayer by Akpabio, his party and the Independent National Electoral Commission (INEC) for an indefinite adjournment of all the tribunal’s activities until it rules on an application challenging the legality of its sitting in Abuja. Read more

Dogara: I was Never Invited to a Meeting with Buhari

Contrary to reports that the Speaker of the House of Representatives, Hon. Yakubu Dogara, was invited to a meeting with President Muhammadu Buhari on Wednesday night, the Speaker has denied knowledge of such meeting.

There had been reports that Buhari would hold a meeting with Dogara and Hon. Femi Gbajabiamila who was the choice of the All Progressives Congress (APC) leadership for the speakership position, as part of efforts to douse the crises currently surrounding the election of the House leadership. Read more

70% of Air Crashes in Nigeria Caused by Regulatory Inefficiency, Says AON

Airline Operators of Nigeria (AON) yesterday said about 70 per cent of the air accidents that happened in Nigeria were caused by regulatory inefficiency and negligence by government agencies in the industry.

This was disclosed by the Executive Chairman of AON, Captain Nogie Meggison, while speaking at the Nigeria Leadership Initiative (NLI) Safer Skies Forum in Lagos, lamenting that airlines lose about $120 million (about N27.6 billion) to bird strike incidents alone annually. Read more

Lagos Govt is Intimidating Us, Say Ladipo Market Traders

The Association of Japanese Spare Parts Dealers in Ladipo Market in Mushin Local Government Area has decried the recent demolition of their shops by the council in the early hours of Tuesday, describing it as an act of intimidation and lack of respect for their fundamental human rights.

The association made this known during an inspection tour by the President of Ohaneze Ndigbo, Lagos State chapter, Mr. Fabin Onwuhalu. Speaking during the inspection, Onwuhalu said the recent demolition of shops at Ladipo Market was clear of intimidation by the state government and its agents against the traders because the government wants to use such opportunity to extort money from the traders. Read more

Illegal Detention: Court Orders EFCC, NDLEA to Pay Man N2m

The Federal High Court in Lagos Thursday awarded N2million damages against the Economic and Financial Crimes.

The Federal High Court in Lagos Thursday awarded N2million damages against the Economic and Financial Crimes Commission (EFCC) and the National Drug Law Enforcement Agency (NDLEA) for detaining a businessman, Lawrence Ejiofor, for more than 30 days without trial. Read more

Obi Chides Obiano over Re-location of Terrorists to Anambra

The cold war between former Governor Anambra State, Mr. Peter Obi and his successor, Chief Willie Obiano, came to the fore on Thursday with Obi expressing shock that Obiano would personally sign a statement alleging that himself (Obi) and former President Goodluck Jonathan  were behind the relocation of Boko Haram terrorists to the state.

Reacting to the claim, Obi’s media aide, Mr. Valentine Obienyem,  said Obiano’s action was nauseating and childish. Obienyem said such a claim would only end up proving to the people that there were more to the relocation than they already knew. Read more

CBN develops financial literacy blueprint for pupils

The Central Bank of Nigeria has initiated a blueprint for the inclusion of financial literacy as a subject in the nation’s education curriculum.

The CBN Assistant Director, Consumer Protection Department, Hajiya Khadijat Kassim, said this at a symposium organised by a non-governmental organisation, Ajapa World Company, to re-launch its financial literacy project in Lagos, recently. Read more

Economy

CBN Explains How Fraudsters Use ATM To Steal Customers’ Money

Central Bank of Nigeria, CBN, has disclosed series of ways fraudsters’ can defraud bank customers through their Automated Teller Machine, ATM.

Ibrahim Mu’azu, Director of Corporate Communications made the disclosure on Thursday at the closing ceremony of CBN’s stakeholders’ engagement sensitisation programme  tagged; “Promoting Financial Stability and Economic Development” in Asaba. Read more

FIRS Records N1.8tr Revenue In Six Months

The management of Federal Inland Revenue Services( FIRS) on Thursday in Abuja disclosed that the Service generated an estimated N1.8trillion between January and June 2015.

The service however lamented that despite the downturn in the oil market within the period under review, private Jet owners and other money bags in the country have further compounded efforts of the Service to generate funds to the coffers of the federal government. Read more

OTC Markets Declined 17%, Closed At $58.84b In May

FMDQ OTC Plc (FMDQ) has unveiled the maiden edition of its monthly report for the Nigerian over-the-counter (OTC) markets indicating that the turnover in the OTC markets declined by 17 percent in May 2015 to close at $58.84 billion.

Tagged “OTC Monthly”,  the report generated by the research group of FMDQ, is an analytical summary of the trading activities and trends in the various segments of the Nigerian OTC markets (Foreign Exchange, Treasury Bills, Bonds, Buy-Backs, Repurchase Agreements and Money Market), providing an overview of the major occurrences in the markets within a period of one month. Read more

Naira: Foreign investors shun bonds, equity market

Foreign investors have began to shun Nigeria’s bonds and equities market due to unwillingness of the Central Bank of Nigeria (CBN) to devaluation the naira as widely expected Markets have moved sharply in the past week in particular after the CBN announced further restrictions on dollar funding for investors, as well as for importers of goods ranging from toothpicks to private jets.

The move, meant to conserve foreign exchange, has dashed widely-held expectations of naira devaluation – the central reform that investors had been banking on. Since then 10-year bond yields have jumped 1 percentage point to almost 15 percent, stocks have fallen and the naira’s value is plunging in the parallel market, down about 7 percent from early-June levels. Read more

CBN tasks FSRCC on promoting sustainable finance

Central Bank of Nigeria, CBN, has urged Financial Services Regulation Coordination Committee, FSRCC, member-agencies to support and promote the evolution of an economy driven by sustainable finance.

This charge was given by the CBN Governor, Godwin Emefiele, at a sustainable finance training for FSRCC member agencies in Abuja. Read more

Investors See Growing Risks in Naira Devaluation Delay

International investors, dismayed by Nigeria’s decision to delay a naira devaluation they see as long overdue, will hold back from its stock and bond markets, raising risks of a deeper crisis in Africa’s biggest economy.

The afterglow from March, when an incumbent president handed over power after what was seen as Nigeria’s freest ever election, is dissipating as President Muhammadu Buhari shows little sign of following up on promises of economic reform, Reuters reported. Read more

Import restriction: CBN alarmed over cross-border cash export

In what could be termed an attempt to sabotage its recent policy of excluding over 41 imported items from the foreign exchange window, Central Bank of Nigeria (CBN) yesterday raised the alarm over the discovery of large sums of cash being transported through the borders following its foreign exchange denial to importers of restricted products.

The restricted items were those considered not too critical to the nation’s economic wellbeing and which can be manufactured locally. In a statement, the apex bank said it is collaborating with relevant agencies to ensure that the culprits are apprehended. Read more

REDAN, NMRC, Others Want FG to Use N5tn Pension Fund to Bridge 17m Housing Deficit

The National President, Real Estate Developers Association of Nigeria (REDAN), Rev. Ugochuckwu Chime, the Executive Director, Policy and Corporate Strategy, Nigeria Mortgage Refinance Company (NMRC), Mrs. Chika Akporji and stakeholders in the housing construction sector on Thursday called on the federal government to channel part of workers’ contribution into the National Pension Fund, which presently stands at N4.9 trillion to bridge the country’s 17 million housing deficit. Read more

Oil and Gas

NNPC reports 3,700 cases of pipeline vandalism in 2014

Nigeria’s state-run oil company said Thursday it had recorded 3,700 cases of pipeline vandalism last year, leading to a revenue loss of some 60 billion naira ($299 million).

The sabotage of pipelines is a major problem in Africa’s leading crude producer, resulting in massive oil theft, or so-called “bunkering” that costs the country billions in lost revenue. Read more

Power

Abuja’s Power Supply Dips to 120MW from Multiple System Failure

Field reports gathered on Thursday in Abuja disclosed that multiple system collapses of transmission facilities of the Transmission Company of Nigeria (TCN) has cut available electricity supply to the federal capital city to about 120 megawatts (MW).

The development which has lasted for more than 24 hours as at the time of filing this report, showed that even the city’s environs are not left out of the extended blackouts that have come with the dip. Read more

Sports

We’ve Got Respect For Kano Pilllars, But We’ll Play – El Kanemi

El Kanemi Warriors of Maiduguri has confessed that it is banking on its lone-goal win over Dolphins of Port Harcourt in the week 15 derby of the Nigeria Premier Football League victory to overcome Kano Pillars in its next encounter.

The team will berth in Kano for its week 16 duel with Kano Pillars tomorrow to begin to finalise plans on how to overcome the sai ma su gida at the Sani Abacha Stadium on Sunday. Read more

Stoke grants Osaze one-year extension

Nigeria’s Stoke City striker Peter Osaze Odemwingie can heave a sigh of relief , following the Club’s reward with a new one- year contract extension.

With this extension the Nigeria international will remain at the Britannia Stadium until the end of the 2015-16 campaign but happily there is the option of a further 12 months. Read more

Ifeanyi Ubah says continental ticket remains a target

Owner of Ifeanyi Ubah FC, Ifeanyi Ubah, has insisted that his club’s target for the season remains a continental ticket despite the club’s recent dip in form.

After posting a resounding 4-1 win away at El Kanemi Warriors, Ifeanyi Ubah FC have suffered a 1-0 defeat at home to Wikki Tourists and fell by the same margin to Heartland in Port-Harcourt on Wednesday. Read more

Egbe Wants Lagos National Stadium Revived for Eagles

FIFA match agent and stadium facility expert, Mr Ebi Egbe, has tasked the National Sports Commission (NSC) to end Super Eagles movement across the country by reviving the National Stadium, Surulere, Lagos.

Egbe who threw his weight behind the call by former Eagles captain, Sunday Oliseh for the Eagles to return to Lagos which is the traditional base of the team said such a move would see the senior national team bounce back in full force when they play at home. Read more

IBB hooks Flying Eagles Skipper

After putting up a brilliant performance for Nigeria at the recently concluded FIFA U20 World Cup, Flying Eagles skipper, Musa Moham- med has signed the dotted lines for top Turkish club, Istanbul Basaksehir FK, a club that is fondly called IBB by its teaming fans.

Musa interestingly opted to play for the club despite getting offers from two top Bundesliga sides. His preference for the Turkish club may however not be unconnected with the fact that the club would be tast- ing European football action this term. IBB would be featuring in the Europa Cup having finished fourth last term in the Turkish league. Read more

Djokovic, Serena eye Wimbledon last 16

Novak Djokovic, Serena Williams and Maria Sharapova target Wimbledon last-16 places on Friday, hoping to avoid the underdog trap that claimed two-time winner Rafael Nadal.

Nadal, a 14-time Grand Slam winner, was knocked out by German qualifier Dustin Brown on Thursday in the second round, the great Spaniard’s fourth successive early loss at the All England Club. Read more

World News

Liberian leader says new Ebola outbreak can be contained

Liberia’s President Ellen Johnson Sirleaf said in an address to the nation on Thursday she was confident the country would be able to contain its new Ebola outbreak.

Her speech on state television came after the government reported that a 17-year-old boy died of the tropical fever on Sunday after spreading it to two other people, in the first cases of infection for more than three months. Read more

US, UN Condemn Mali Attack Claimed by Al-Qaida

The United States has condemned “in the strongest possible terms” Thursday’s ambush on a convoy of U.N. peacekeepers in Mali, in which six people were killed and five more were wounded.

The attack took place on a road about 45 kilometers southwest of the city of Timbuktu in Mali’s restive northern desert. The extremist group al-Qaida in the Islamic Maghreb has claimed responsibility for the ambush. Read more

Two years after army deposed president Mohamed Morsi, Egypt stuck in turmoil

Two years after the army deposed president Mohamed Morsi, Egypt is roiled by brazen Islamic State group attacks in the Sinai Peninsula and brutal government repression that has killed hundreds.

Militant attacks have persisted since then army chief and now President Abdel Fattah al-Sisi ousted Morsi on July 3, 2013, after mass street protests against the Islamist’s single year of divisive rule. Read more

Sudanese 2nd VP to visit Russia in late July

The Sudanese 2nd Vice President Abdel-Rahman Hassabo will travel to Russia on July 27th for talks on expanding cooperation between the two countries in political and economic fields, it was announced here today.

Hassabo met on Thursday with members of the Sudanese side in the Russian-Sudanese joint ministerial committee to deliberate on topics of discussion for his upcoming Moscow visit. Read more

China stocks plunge as market rout deepens

China’s main stock benchmark plunged more than 5 percent Friday as government stabilizing measures failed to reassure panicky investors while other Asian indexes fell ahead of Greece’s weekend austerity referendum.

KEEPING SCORE: The Shanghai Composite Index in mainland China tumbled 6.1 percent to 3,676.12 and is down nearly 18 percent for the week. Hong Kong’s Hang Send lost 0.4 percent to 26,189.62 while Japan’s Nikkei 225 was off 0.4 percent to 20,449.43. South Korea’s Kospi fell 0.5 percent to 2,096.57 and Australia’s S&P/ASX 200 retreated 1.6 pecent to 5,511.10. Read more

Greece Needs €50bn Over Three Years, Says IMF

Greece needs €50bn over the next three years to stabilize its finances even under existing creditor plans, the IMF has said.

In a new report, the International Monetary Fund acknowledged a huge deterioration in the country’s prospects in recent months. Read more

38 Dead, 15 Missing in Capsized Philippine Ferry Disaster

At least three more bodies have been recovered from a ferry that capsized in choppy waters in the central Philippines, raising the death toll in the tragedy to 38 with 15 others missing, the coast guard said Friday.

At least 134 people from the M/B Kim Nirvana were rescued by fishing boats and coast guard personnel or swam to safety off Ormoc city on Leyte Island on Thursday, said coast guard spokesman Cmdr. Armand Balilo. Read more

Jetstar resumes Bali flights after volcanic ash cloud risk eases

Jetstar will resume services to Bali after they were cancelled amid fears a volcanic ash cloud made it unsafe to fly.

Jetstar determined it was safe to fly on Friday after the Volcanic Ash Advisory Centre (VAAC) downgraded its warning from a code red to a code orange. Read more

Malaysia fund slams report $700 million went to PM’s personal account

Malaysia’s 1MDB said on Friday it never provided any funds to Prime Minister Najib Razak, responding to a report that close to $700 million (448.55 million pounds) was wired into Najib’s personal account from banks, government agencies and companies linked to the state fund.

The Wall Street Journal report, if true, would be the first time that the beleaguered prime minister has been directly linked to accusations of corruption surrounding the troubled fund. Read more

ISIS publicly smashes Syrian artifacts

ISIS militants reportedly smashed cultural treasures from the ancient Syrian city of Palmyra, including an artifact dating back to the second century, according to a statement from the group and Syrian state media.

A man smuggling at least six ancient statues through Aleppo province was captured by jihadis and transferred to a self-proclaimed Islamic court in the ISIS-controlled city of Manbij, a Thursday release on the group’s social media sites read. Read more

BP reaches £12bn record settlement over Gulf oil spill

British Petroleum has agreed to pay the largest settlement by a single company in US history over the Gulf of Mexico oil spill.

The deal, which is still awaiting approval, will be worth $18.7bn (£12bn). Read more

 

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About The Author

Osigweh Lilian Oluchi is a graduate of the University of Lagos where she obtained a B.A (Hons) in English, Masters in Public and International affairs (MPIA). Currently works with 1stnews as a Database Manager / Writer. [email protected]

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