FG Denies Obstructing Payment to Judiciary as Brent crude dips below $50 for first time since 2009

FG Denies Obstructing Payment to Judiciary as Brent crude dips below $50 for first time since 2009

Sabinews Midday News Update for January 7, 2014MIDDAY NEWS


FG Denies Obstructing Payment to Judiciary

The Accountant General of the Federation (AGF), Mr. Jonah Otunla, on Tuesday refuted allegations that his office had influenced the current delay in complying with a high court directive to place the judiciary on the first line charge.

A Federal High Court presided over by Justice Adeniyi Ademola had on January 13, 2014 ordered that funds for the judiciary be on first line charge in order to strengthen the justice system in the country. Read more

Brent crude dips below $50 for first time since 2009

The price of Brent crude temporarily fell below $50 per barrel on Wednesday morning for the first time since May 2009, as fears of weak demand and a glut in global supply continued to weigh on sentiment.

Brent crude for February delivery was trading at $49.99 a barrel at around 7.55 a.m. GMT on Wednesday, before ticking slightly higher. It marked the first time since May 1, 2009 that it had traded below the key $50-per-barrel mark. Read more

Market Capitalisation Declined By 13.03% – Expert

Mr Charles Fakrogha, a stockbroker and Chief Executive Officer, Foresight Securities and Investment Ltd., has said that the Market Capitalisation of the Nigerian Stock Exchange (NSE) declined by 13.03 per cent in 2014.
Fakrogha said this during an interview with newsmen  in Lagos.
He said that the market actually closed lower than what it started with in January 2014. Read more

Inside Niger Delta: The tango over positions intensifies

One thing is clear as the next elec­tion date draws near: all the eth­nic nationalities in Delta State are scheming for one position or the other. So, it is now a game of interest.
While in other parts of Ni­geria the electorate is expected to vote on the basis of party ideology and suitability of the candidate for the position of chief executive officer, most ethnic groups in the state are preparing to vote based on what they get in the next dis­pensation.
Political geography divides Delta State into three senatorial districts, namely: the Delta North, Delta Central and Delta South Senatorial. All, except Delta Southern senatorial districts, are scheming to produce the next gov­ernor of the state. Read more

UK Ebola nurse’s condition critical but stable – doctor

A nurse fighting for her life after contracting Ebola remains in a critical condition but she has “stabilised”, the UK’s Health Secretary said yesterday. Jeremy Hunt gave an update on Pauline Cafferkey’s condition as charity Save the Children launched an investigation into how she was infected – but conceded it may never establish the exact circumstances. Read more

Controversial sermon: Catholic Secretariat disowns Mbaka, asks Enugu Bishop to warn him

As reactions continue to trail the recent comment made by eastern-based Roman Catholic Priest, Rev. Fr. Ejike Mbaka, that President Goodluck Jonathan has over stayed his welcome at the Aso Rock, the Secretary-General of Catholic Secretariat of Nigeria, CSN, Rev Fr. Ralph Madu has called on the Enugu Bishop to call the preacher to order.

Mbaka has been in the news following his New Year controversial message where he asked President Goodluck Jonathan, to quietly resign from office or face humiliation. Read more

CBN Supports SMEs with N500m

The Central Bank of Nigeria (CBN) has released N500 million to the Enugu State Government to finance 1,600 micro enterprises as part of its commitment to supporting small and medium enterprises (SMEs) in the eastern region of Nigeria.

The micro, small and medium enterprises (MSMEs) were recommended by the Enugu SME center under the state micro, small and medium enterprise development programme (MSMEDP). Read more

Eurozone Consumer Prices Fall for First Time Since 2009, Adding to Deflation Fears

Consumer prices fell in the eurozone for the first time since 2009, according to official data released on Wednesday, putting more pressure on the European Central Bank to act to prevent a downward price spiral that could further damage the fragile banking sector and undermine growth for years to come. Read more

Sony announces Interview figures

The controversial film The Interview has made more than 31 million dollars (£20.5 million) from its online and on-demand release, according to Sony Pictures.

The studio announced digital figures for the film spanning its first 11 days of release since its US release on December 24. Read more

Europe Hurting From Russia Sanctions, Needs to Act

France’s economy minister says Europeans should work together to pressure Russia for a solution over Ukraine so that all sides can ease sanctions that are hurting European economies.

Emmanuel Macron told The Associated Press that Europe has a “collective responsibility” to maintain pressure on Russia over its involvement in tensions in eastern Ukraine and its annexation of Crimea. Read more

Oil price plunge to boost Asia economies

The plunge in crude prices will give a much-needed boost to Asia’s oil-guzzling economies and provides governments a “golden opportunity” to implement crucial structural reforms such as cutting expensive energy subsidies, analysts say.

A slowdown in the key export markets of Europe, China and Japan, the end of US stimulus measures, and an expected US rate hike — fuelling a flight of foreign cash in search of better returns — has left some governments having to make tough decisions to get back on track. Read more

Mozambique police release opposition leader – local media

Mozambique police have released an opposition spokesman they had arrested for allegedly leading an illegal demonstration and inciting violence, local media cited his lawyer as saying on Wednesday.

Antonio Muchanga, spokesman for Mozambique’s main opposition Renamo party, was arrested on Tuesday after leading protests against the result of last October’s election that the ruling Frelimo party and its candidate Filipe Nyusi won. Read more

Nigerian drug ring bust in Johannesburg

The Hawks raided the Highrise flats in Berea on Tuesday, did a thorough search and arrested the five, Captain Paul Ramaloko said in a statement.

“The Nigerians are allegedly part of a bigger syndicate involved in the trade of drugs in the area. When the team searched their flat they found 1kg of heroin and 500g of cocaine rocks with a street value of R375,000.” Read more

NCAA attributes flight cancellations, delays to adverse weather condition

The Nigerian Civil Aviation Authority (NCAA) has said that the spate of flight cancellations and delays by airlines experienced by passengers at the nations’ airports are caused by adverse weather conditions.

NCAA’s clarification may not be unconnected with the cancellation and delay of flights to some parts of the country by domestic airline operators on Monday. 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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