*INEC declares Imo governorship election inconclusive* *50 corpers held hostage in Nasarawa regain freedom*

*INEC declares Imo governorship election inconclusive* *50 corpers held hostage in Nasarawa regain freedom*

Sabinews Daily Morning News Update for April 13, 2015MORNING NEWS


National News


INEC declares Imo governorship election inconclusive

The INEC Returning Officer for the governorship election in Imo State,  Prof Ibidapo Obe has  declared  the  results of Imo state governorship  election inconclusive following detected electoral mal practices in some local government area. Read more

50 corpers held hostage in Nasarawa regain freedom

No fewer than 50 youth corps members and the Independent National Electoral Commission   ad hoc staff   held hostage by some villagers in Assakio, Adogi and Shige area of Lafia Local Government, Nasarawa on Saturday regained their freedom on Sunday.

Spokesman for the group, Mr. Adamu Anzalu, told our correspondent in Lafia that the corps members and INEC officials were abandoned along Ashige in Shendam Road close to Assakio where they were held captive. Read more

Oba Akiolu Organises Prayer for Peaceful Co-existence in Lagos

The Oba of Lagos, Alhaji Rilwan Akiolu, on Sunday organised a prayer session for peaceful co-existence in Lagos and Nigeria in general.
The prayer was conducted at the Iga Idunganran Palace of the royal father on Lagos Island.

Akiolu, according to the News Agency of Nigeria (NAN), said the prayer was imperative to peaceful co-existence in Lagos and Nigeria in general, after peaceful conduct of the general election in the state. Read more

We’ll make democracy succeed in Nigeria – EU

The Head of Euro­pean Union Delega­tion to Nigeria and Economic Com­munity of West African States (ECOWAS), Amb. Michel Arrion, has said the group is much interested in the success of Nigeria’s democracy and its electoral process.

Speaking during a courtesy call on the leader of All Progressives Congress (APC) in Kwara State, Senator Bukola Saraki, in Ilorin at the weekend, the envoy said the EU has years of collaboration and co-operation with the country that must be sustained for continental growth. Read more

800,000 children have fled Boko Haram violence in Nigeria in year, UNICEF says

The number of children fleeing the Boko Haram insurgency in Nigeria doubled in the past year to about 800,000, with women and girls targets of abduction for sexual abuse by the militants, according to a United Nations Children’s Fund report.

Boko Haram’s six-year campaign to impose Islamic law in Nigeria has forced more than 1.5 million people from their homes, according to UNICEF. The number of displaced includes 1.2 million inside Nigeria, with about 200,000 crossing into neighboring Cameroon, Chad and Niger, stretching social services, health care and other facilities in host communities. Read more

INEC cancels polls in 3 Abia LGAs, PDP protests

The Returning Officer for the Governorship Election poll in Abia State and Vice Chancellor of University of Nigeria, Nsukka, Professor Benjamin Ozumba, has announced the cancellation of election results in three of the 17 local government areas in the state.

The affected LGAs include Obingwa, Osisioma and Isialangwa North. Read more

Ekiti PDP clears 25 seats

Peoples Democratic Party, PDP, in Ekiti State has won all 25 House of Assembly seats, which results have so far been declared.

The result of Ilemeje constituency was still being awaited yesterday. Read more

3 killed in APC, PDP supporters’ clash

Three people were feared dead in Ile-Ife yesterday following violent clashes between supporters of All Progressives Congress, APC, and the Peoples Democratic Party, PDP, in several neighbourhoods in the town.

Although identities of the deceased could not be confirmed at the time of filing this report, however, residents of Gbodo Area in Ile Ife, who spoke with National Mirror, said two people were killed in the area during a fight involving supporters of the two parties. It was reliably gathered that the two victims of Gbodo clash were siblings of a notable politician in the area, whose house was also razed during the crisis. Read more

FRSC apprehends 357 offenders in Lagos

Federal Road Safety Commission, FRSC, said it arrested 357 road offenders in the first quarter of 2015 at the Murtala Muhammed Airport, MMIA, Ikeja, Lagos, alone.

The commission, however, said that none of the traffic offenders has been prosecuted by the agency. Read more

Tekena Tamuno, Ex-UI VC, Dies at 83

A foremost Professor of History and former Vice-Chancellor of the university, University of Ibadan, Professor Tekena Tamuno, is dead. He died at the weekend in Ibadan, the Oyo State capital. He was aged 83.

His demise came as a shock to friends and colleagues as he was said to have recovered and was looking healthy after returning from the United States where he was reportedly treated for prostate cancer last month. Read more

Ambode, el-Rufai, Dankwambo, Udom, Ugwuanyi Win Guber Polls

Results released on Sunday by the Independent National Electoral Commission (INEC) from the 29 states in which governorship elections were held on Saturday, showed that Governors Abiola Ajimobi, Ibrahim Dankwambo, Ibikunle Amosun and Kashim Shettima of Oyo, Gombe, Ogun and Borno States, trounced their rivals in hard fought contests to win their re-election bids. Read more

APC wins 17 Assembly seats in Ogun

Ogun State chapter of All Progressives Congress, APC, has won 17 out of the 20 seats in the House of Assembly elections held last Saturday in the state.

In the results made available in Abeokuta, the state capital, by the Independent National Electoral Commission, INEC, the Peoples Democratic Party, PDP, won the remaining nine seats. Read more

APGA picks 25 Assembly seats in Anambra

The fortunes of the All Progressives Grand Alliance, APGA, was boosted yesterday as it won 25 House of Assembly seats out of the 30 competed for in Anambra State on Saturday.

Announcing this development at a press briefing in Awka, the state capital, yesterday the State Resident Electoral Commissioner, Engr Edwin Nwatarali, stated that INEC has rescheduled election in four of the 30 state constituencies in Anambra State for reasons ranging from electoral violence, card reader malfunction and loss of election materials. Read more

Bayelsa APC carpets INEC over election shift

A leader of the All Progressives Congress in Bayelsa State, Mr. Godwin Sidi, has accused the Independent National Electoral Commission of colluding with the Peoples Democratic Party to shift the Assembly poll in the state.

Sidi, a former Publicity Secretary of the defunct New PDP, said this at a press conference in Yenagoa on Sunday. Read more




CBN Frowns on Issuance of Dud Cheques

The Central Bank of Nigeria (CBN) has rolled out punitive measures for bank customers that are fond of issuing cheques against unfunded accounts.
The central bank, which stated this in a letter to all banks posted on its website recently, said it had noted with great concern the impunity with which some bank customers issue dud cheques on their accounts despite the provisions of the Dishonoured (Dud) Cheques Act of 1977 and CBN’s recent directives to banks’ customers to desist from such practice. Read more

EU envoy scores Nigerian economy low

Head of European Union Delegation to Nigeria and Economic Community of West African States, Ambassador Michel Arrion, has frowned at the state of economy in Nigeria which favours the rich at the expense of the poor and tasked the incoming administration to ensure that the rich pay taxes on their income.

‘Why terrorism persists’

Arrrion also attributed the prolonged terrorist onslaughts in northern parts of the country to the hopelessness of the army of unemployed youths and wrong ideology. Read more

Only 20% of N220bn MSME fund disbursed – CBN

The Central Bank of Nigeria, CBN and the Bankers Committee have disclosed that only 20 per cent of the N220bn for the Micro Small and Medium Enterprises, MSME, development fund have been given out.

This was made known on Thursday by the Managing Director, Standard Chartered Bank Limited, Bola Adesola, after the Bankers Committee meeting in Lagos. Read more

Combined risk cover will eliminate exporters’ losses – CDF

The Cargo Defence Fund CDF has said that it decision to introduce the Combined Insurance Risk Cover in conjunction with the NEXIM Bank and the Nigeria Insurers Association NIA, was designed to checkmate the losses being incurred by Nigerian non-oil exporters. The CDF is a unit of the Nigerian Shippers Council NSC, charged with the responsibility of helping Nigerian shippers (exporters and importers) to pursue their cargo claims, among several other functions.

Business Courage had reported exclusively that Nigerian charcoal exporters loose a whopping N9.7bn in three years to fraudulent importers in European countries comprising Germany, Netherlands, Spain, Italy and Belgium. Read more

First Bank Group earnings hit N481 billion

The audited report of First Bank Holdings Plc for the financial year ended December 2014, showed a gross earnings of N480.6 billion, up 21.3 per cent, compared to N396.2 billion in 2013.

Net interest income also rose by six per cent to N243.9 billion, against N230.1 billion in 2013, while non-interest income of N111.8 billion was recorded, representing 66.1 per cent increase, compared to the corresponding period of 2013, put at N67.3 billion. Read more

UBA Bond Lifts NSE’s Debt Market Capitalisation to N5.564tn

The listing of United Bank for Africa(UBA) Plc’s N30.5 billion  on the Nigerian Stock Exchange (NSE) lifted the debt sector of the exchange to N5.564 trillion of the exchange.

Prior to the listing of the UBA bond, the market capitalisation stood at N5.520 trillion. However, the N30.5 billion UBA bond combined with the N12.95 billion bond of African Development Bank boosted the capitalisation of the debt sector from N5.520 trillion to N5.564 trillion. The UBA Plc’s  bond (Series 1) 7 years 16.45 per cent fixed rate subordinated unsecured notes, was a dual listing on the NSE and FMDQ OTC Plc. Read more

Transcorp Announces Record Group Revenue of N41.3bn

Transnational Corporation of Nigeria Plc (Transcorp) has announced a revenue ofN41.3 billion for the year ended December 31, 2014, indicating an increase of 120 per cent over N18.8 billion in earned in the corresponding period of 2013.
The company’s audited Full Year (FY) 2014 financial released to the Nigerian Stock Exchange (NSE) showed that it recorded a group gross Profit of N27.6 billion as against ‎N14.4 billion earned in 2013, an increase of 92 per cent. Read more

Profit-taking Halts Stock Market’s Post-election Rally

The post-general election rally in the Nigerian equities market came to a halt last week as some investors rushed to take profit. Following the historical 16.9 per cent gain recorded last week, profit taking surfaced, leading to  the Nigerian Stock Exchange (NSE) All-Share Index (ASI), the  benchmark index, recording its first weekly loss in three weeks. Although there were just as many bullish sessions as there were the bearish ones, significant sell-offs in the first two sessions resulted in a 2.23 per cent. Read more

SEC releases rules to strengthen regulation of Nigeria’s capital market

The apex Regulator of the Nigerian capital market, the Securities and Exchange Commission (SEC) has released new rules and amendments to existing rules covering a wide range of areas including the much anticipated rules on securitisation as well as codes of conduct for rating agencies, underwriters and trustees.

This was stated in a statement on the commission’s website. Read more

BVN: Fresh Issues Arise As Deadline Approaches

As the June deadline set for bank customers to get their Bank Verification Number (BVN) draws near, issues have begun to arise from the Central Bank of Nigeria (CBN)’s initiative which was launched last year February.

Leadership investigations reveal that aside the fact that many customers are still unaware of the biometric registration, complications in the process have begun to discourage some customers. Read more


World News


Russian fighter jet intercepts US Air Force reconnaissance flight

The US is protesting an intercept of an American reconnaissance plane by a Russian fighter jet last week, calling it “unsafe and unprofessional” amid what it views as increasingly aggressive air operations by Moscow.

Pentagon spokesman Mark Wright on Sunday said the US was filing a complaint to Russia after the April 7 incident over the Baltic Sea. Read more

Bomb kills two police in northeast Myanmar near China border

Two police officers from an anti-narcotics task force were killed and three wounded when a bomb exploded in a volatile area of northeastern Myanmar near the border with China, a police official said on Monday.

The motive for the bombing in Muse, a thriving trade centre on the Chinese border, was not immediately clear. Read more

Islamic State claims attacks on two embassies in Libya

Islamic State militants have claimed responsibility for two bomb attacks on embassies in Libya in the latest strikes against foreigners, embassies or oilfields in the country.

A bomb exploded at the gate of the Moroccan embassy in the Libyan capital of Tripoli early on Monday, causing some damage but hurting nobody, a security official said, only hours after gunmen attacked South Korea’s mission in the city. Read more

Hillary Clinton sets off for tour of key states

Former US Secretary of State Hillary Clinton has set out for a tour of key states, at the start of her campaign to become the first woman US president.

She is taking a road trip to meet small groups of voters in Iowa, after announcing her presidency bid in an online video on Sunday. Read more




Buhari Can Cancel Power Privatisation – NERC Boss

The chairman, Nigerian Electricity Regulatory Commission (NERC), Dr Sam Amadi, has said that there is the possibility that the incoming government of General Muhammadu Buhari can undo the privatisation of the power sector.

Amadi who stated this during an interview in his office in Abuja, in response to the question whether such was possible, said: “Everything is possible; there’s no impossibility with government to, through due process or through extra-legal actions, reverse any policy or decision.” Read more

No tariff reduction for residential customers — AEDC

The Abuja Electricity Distribution Company (AEDC) yesterday said that the 50 per cent reduction in electricity tariff by the Nigerian Electricity Regulatory Commission (NERC) does not affect residential consumers under the R1 and R2 tariff categories.

This clarification is contained in a statement issued by Malam Ahmed Shekarau, Head, Public Affairs of the company, in Abuja. Read more




Nigeria not better insists beaten Zambia coach

Zambia U23 coach Fighton Simukonda has maintained his team was not a poor match to Nigeria in an All Africa Games qualifier, but they lost because they failed to put away their chances.

On Sunday, Nigeria ran away 2-1 winners in Lusaka to qualify for the 2015 AAG in Congo-Brazzaville in September after the first leg in Abuja finished goalless . Read more

Okocha wants end to Eagles’s coaching saga

Former Nigeria captain Jay-Jay Okocha urged the country’s football authority to swiftly resolve the national team’s managerial vacancy in order to prevent further setbacks.

Daniel Amokachi has been in charge of Nigeria on a temporary basis since December following lengthy contractual talks between Stephen Keshi and the Nigeria Football Federation (NFF). Read more

Awoniyi fires Nigeria to All Africa Games

A brace by striker Taiwo Awoniyi qualified Nigeria to the football event of the 2015 All Africa Games yesterday as they beat hosts Zambia 2-1.

Both teams played out a 0-0 draw in Abuja three weeks ago for Nigeria’s Dream Team VI to go through 2-1 on aggregate. Read more

Chelsea extend lead, United down City

Chelsea increased their lead at the top of the Premier League with a 1-0 win at QPR on Sunday as Manchester United added to Manchester City’s woes with a come-from-behind 4-2 derby victory at Old Trafford AFP reports.

Cesc Fabregas’s late goal sealed Chelsea’s win at Loftus Road as Jose Mourinho’s side went seven points clear of second-placed Arsenal with seven games to play. 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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