*EFCC Arrests Ex-NNPC Boss, Andrew Yakubu, Jide Omokore*Edo 2016: How Obaseki picked APC guber ticket

*EFCC Arrests Ex-NNPC Boss, Andrew Yakubu, Jide Omokore*Edo 2016: How Obaseki picked APC guber ticket

SABINEWS MIDDAY NEWS UPDATE FOR JUNE 20, 2016

EFCC Arrests Ex-NNPC Boss, Andrew Yakubu, Jide Omokore

The Economic and Financial Crimes Commission (EFCC) has rearrested oil magnate, Jide Omokore, and  a former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu, for alleged money laundering. This was disclosed by a source from the Commission, who said that Omokore and Yakubu would be arraigned this Tuesday before Justice Binta Nyako of the Federal High Court, Abuja, on four counts of money laundering. Read more

Edo 2016: How Obaseki picked APC guber ticket

Preferred candidate of Governor Adams Oshiomhole of Edo State, Dr Godwin Obaseki secured overwhelming majority votes cast at the Saturday All Progressives Congress, APC governorship primary to clinch the party’s ticket as the governorship flagbearer for the September 10, 2016 gubernatorial election . Read more

PDP Chieftain wants recovered loot shared among states

Peoples Democratic Party, PDP chieftain in Ekiti State, Hon. Gboyega Akinola, has cautioned President Muhammadu Buhari against a repeat of the mistake of his military administration as regards recovered assets from corrupt leaders, saying what is being recovered now should be shared among states. Read more

Extend immunity clause to Saraki, Dogara –Kwara Speaker

The speaker kwara State House of Assembly, Rt. Hon. (Dr.) Ali Ahmad has canvassed that the immunity against criminal prosecution as currently enjoyed by Nigerian president as well as State governor should be equally extended to the Senate president, his deputy, Speaker House of Representatives, his deputy and the Speakers and Deputy Speakers of State Houses of Assembly. Read more

Attracting financing: Investment and funding opportunities for Nigerian SMEs

As oil revenue dips, economist have claimed the country is technically at a point of economic recession. Several indicators such as poor power supply, pipeline vandalism, lingering fuel scarcity and forex shortages and trade and import restrictions are quoted to be responsible for the economic malaise. To rebound from these effect the government and private sectors have focused on creating an economy that invests in empowering SMEs (small and medium scale enterprises) which has a proven track record from developed and other developing countries to be one of the most potent economic power house of every successful economy. The question now is, if SMEs have been identified as core economic drivers why are they deficient of investment funds?  Read more

Nigerian interbank FX market opens with no price quotes after central bank lifts peg – traders

Nigeria floated the naira under a new hard foreign currency regime aimed at easing dollar shortages in Africa’s biggest economy on Monday but there were no immediate trades, dealers said. A dealer said market players had been holding off bids since the new interbank market started at 9 a.m. as they were unsure of the new system’s liquidity. Read more

Nigerian naira slumps 23 percent after currency peg ends

Nigeria’s naira slumped 23 percent against the U.S. dollar on Monday in tentative interbank trading after central bank removed its currency peg, Thomson Reuters data showed. The naira traded just twice at 255 against the dollar, and less than $1 million had changed hands by 11:00 a.m. (1000 GMT), as dealers said they were nervous about foreign exchange liquidity under the new system. Read more

Ex-OAU student hacks mum to death

Tragedy struck in Ede Osun State at the weekend when an exstudent of Obafemi Awolowo University, OAU, Ile-Ife simply identified as Christian, hacked his mother to death with a cutlass and sat with the corpse for several hours. Read more

Unpaid salary: Oke tasks states to fight corruption

Presiding Bishop of the Sword of the Spirit Ministries, Dr. Wale Oke, yesterday charged state governments across the country to take conscious steps to stamp out corruption and improve the standard of living in their domain. Read more

EEDC, SEOF Foundation empower 45 S’East schools

Enugu Electricity Distribution Company, EEDC, in partnership with Sir Emeka Offor Foundation, SEOF, a non-governmental organisation, yesterday, donated books and computers worth millions of dollars to 15 tertiary institutions and 30 secondary schools across the South East states of Abia, Anambra, Ebonyi, Enugu and Imo.  Read more

Ikpeazu: Economic crisis won’t affect workers’ salaries

Governor of  Abia State, Dr. Okezie Ikpeazu, has assured farmers in the state of judicious disbursement of the N1 billion Commercial Agricultural Credit Scheme loan, which the state recently obtained from the Central Bank of Nigeria, CBN Read more

Insecurity in Africa: TANA forum to change global mindset – Obasanjo

Former President Olusegun Obasanjo over the weekend played host to the 7th Board meeting of the TANA High Level Forum on Security in Africa. The meeting, which had in attendance former President of Burundi, Pierre Buyoya, Ethiopian Foreign Affairs Minister, Dr. Tedros Adhanoun, Special Adviser to the Ethiopian Prime Minister, Prof Andreas Eshete among others, deliberated on issues bordering on insecurity and conflicts in Africa. Read more

Dogara tasks leaders on fatherly role in governance

House of Representatives’ Speaker, Yakubu Dogara, has advised Nigerian leaders to play fatherly roles in the affairs of the country by providing qualitative leadership.
His spokesperson, Turaki Hassan, said the Speaker made the call yesterday during Fathers’ Day service at Aso Villa Chapel, where he represented the Vice President, Prof. Yemi Osinbajo. Read more

Buhari’s integrity bringing hope to Nigerians’

President Muhammadu Buhari’s personal integrity is providing credible leadership for the country and bringing renewed hope to Nigerians.
National president of the Coalition of APC Support Groups, Ambassador Mohammed Lawal Kabiru, disclosed this while speaking at the inauguration of the All Progressives Congress, APC support group, Kogi State chapter in Lokoja yesterday.  Read more

The new priority list in Abuja

A common saying goes thus: When one’s path is obstructed by a heap of logs which must be cleared for passage, the topmost logs must be removed first in the dislodgment process. Currently, Nigeria is swarmed by burning issues. A grade schooler can count them off his/her digits, proffer insightful remedies and warn you that implementation of the solutions has been the Achilles’ heel. Read more

Nigeria’s central bank says will clear backlog of currency demand through forward trades

Nigeria’s central bank will clear a backlog of hard currency through currency forwards and spot trades on the interbank market, a spokesman said on Monday, after floating the naira. “The central bank has resolved to clear all the backlog of FX demand in the country through spot and forward settlements,” Isaac Okorafor, spokesman for the central bank said. Read more

Lagos civil service reform and service efficiency

Generally in the eyes of the Nigerian public, the civil service is of no use. Ironically, the civil service is the institution which drives the activities of government all over the world. It is the major establishment used by government to implement its policies, programmes and plans. This is why many refer to it as the engine room of governance. Hence, for any government to do well, it must be backed by a virile and visionary public service. The necessity of virile civil service to the health of a nation is such that and American anthropologist and physician, Dr. Paul Edward, once said: “You can’t have public health without working with the public sector. You can’t have public education without working with the public sector in education’’. Read more

Shell lost 25,000 bpd to oil theft in 2015

Shell companies in Nigeria lost 25,000 barrels of oil per day, bpd, to oil theft in 2015.
The quantity lost amounted to about $1,250,000 per day at the current price of $50 per barrel, showing a substantial loss to the nation. The company, which disclosed this in its briefing notes released over the weekend, indicated that the volume stolen was less than the 37,000 bbl/d in 2014. It said the number of sabotage-related spills declined to 93 incidents compared with 139 in 2014. The company maintained that in 2015, the decrease in theft and spills was also in part due to divestments in the Niger Delta. Read more

The dangers ahead

Without doubt there is apparently a mismatch in our national aspiration of a strong, united, indivisible and indissoluble country and the supportive bio-psychological dynamics, or what I call mindsets of members of the constituent nationalities and sub nationalities that make up the country. It is an irrefutable fact that all Nigerians look at national issues from geopolitical prisms. It is also undeniable that religious sensibilities colour our outlooks Read more

3 Ondo poly students shot by police

Three students of Rufus Giwa Polytechnic, Owo, RUGIPO, were yesterday shot by men of the Ondo State Police Command. They were accidentally shot during a clash between students of the institution and the police. The three students were said to be in a stable condition at the Federal Medical Centre, FMC, Owo, where they are receiving treatment. Read more

MTN fine, a closed matter –Minister

Minister of Communications Mr Adebayo Shittu, has said the issue of penalty imposed by the Federal Government on the telecoms operator, MTN, following its breach of the laws guiding telecoms operation in the country, is a closed matter.   Read more

Afe Babalola advises workers to shun strike, embrace self-devt

Founder of Afe Babalola University, Ado Ekiti (ABUAD), Aare Afe Babalola, has urged Nigerian workers to embrace the habit of self-development by pursuing on-the-job higher certificates and degrees to enhance their competence and suitability for better employment opportunities. Read more

Kogi crisis: Group flays Melaye over comments on Bello

A Non-Governmental Organisation, Kogi Professional Forum, KPF has berated Senator Dino Melaye for accusing the State Governor, Alhaji Yahaya Bello of engaging in antiparty activities. At a press conference in Abuja at the weekend, the leader of the group, Comrade Ibrahim Ali said it was wrong for the senator representing Kogi West senatorial district and those he described as disgruntled leaders of the party to accuse the governor of engaging in anti-party activities. Read more

Stop witch-hunting me, we served Plateau well, Jang tells Lalong

Former Governor of Plateau state, Jonah Jang has decried what he called abandonment of governance in the state by the APC- led administration in pursuit of an agenda aimed at tarnishing the image of the past administration Read more

Lánre’s Human Soul

Do you like soul music? Folk music? How about the two together? I recently heard the powerful voice of British Nigerian singer songriter, Lánre who manages to infuse both soul and folk together – if it sounds bizarre, trust me, it works. Read more

 

 

 

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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