SABINEWS MIDDAY NEWS UPDATE FOR JUNE 21, 2016
Militants invade Lagos, Ogun communities, unleash mayhem
Pandemonium ensued in some communities in Lagos and Ogun states as suspected militants unleashed mayhem on several residents in an orgy of violence that lasted for hours. The bandana-wearing militants, who were reportedly more than 100, carried out series of attacks on houses in the Elepete and Kajola areas of Ogun State, and the Igbo Olomu community of Ikorodu, Lagos State. Both the Lagos and Ogun communities are adjoining. Read more
Forgery: Court fixes June 27 for Saraki, others’ arraignment
A High Court of the Federal Capital Territory High Court in Jabi, Abuja, on Tuesday fixed June 27 for the arraignment of the Senate President, Dr. Bukola Saraki, his deputy, Ike Ekweremadu, and other defendants, on two counts of criminal conspiracy and forgery. Justice Yusuf Halilu fixed the date after ordering substituted service of the charges on the defendants. Read more
Nigeria’s naira extends losses after currency peg removed
Nigeria’s naira fell against the dollar for a second day on Tuesday after the central bank removed its currency peg in an effort to alleviate chronic foreign currency shortages choking growth. Read more
Nigeria cbank sells $3.5 bln in forward trades to clear FX backlog
Nigeria’s central bank has sold $3.5 billion on the forward market after it auctioned $532 million and intervened on the interbank market on Monday to clear backlog of currency demand as it lifted its peg on the currency. The bank sold $697 million in one-month forward, $1.22 billion in two-month contract and $1.57 billion due in three months, in order to clear a backlog of $4.02 billion of demand, market operator FMDQ Securities Exchange said. Read more
Nigerian gov’t agrees one-month ceasefire with Delta militants -official
The Nigerian government has agreed with militant groups on a one-month ceasefire in the Niger Delta region hit by a surge in attacks on oil and gas facilities, a petroleum ministry official said on Tuesday. The deal includes the Niger Delta Avengers, a group which has claimed responsibility for a string of attacks, said the official, who asking not to be identified. Read more
Cook kills friend for reporting him to police
The Lagos State police command has arrested a man, Daniel Okorie, for allegedly stabbing his friend, Onyeka Jackson, to death in the Iyana Isashi area of the state. PUNCH Metro learnt that Okorie, who worked as a cook, was wanted by the police for beating up a female customer, allegedly killed Jackson for reporting him to the police station. Our correspondent learnt that Okorie stabbed Jackson on the neck when he visited the suspect’s apartment at Clinic Bus stop, Iyana Isashi. Read more
Man bathes policeman with hot soup, lands in prison
An Ado Ekiti Chief Magistrate’s Court has remanded a 33-year-old man, Imole Emmanuel, in prison custody for allegedly pouring hot soup on a police corporal, Kayode Akingbade. Emmanuel was arraigned on counts of assault and conduct likely to cause a breach of the public peace. It was learnt that he also attempted to snatch the corporal’s rifle. Read more
New forex policy’ll bring short-term pain, says Ecobank
With the commencement of trading under the new foreign exchange guidelines on Monday, the Group Chief Executive Officer, Ecobank Transnational Incorporated, Mr. Ade Ayeyemi, has said there will be short-term pain and a need for adjustments. Ayeyemi, who stated this in an exclusive interview with our correspondent, commended the decision by the Central Bank of Nigeria to liberalise the forex market. The CBN had last week said based on the new guidelines, the value of the naira against other currencies would be market-driven, putting an end to its peg of N197-N199 to the United States dollar. Read more
CBN okays Wema Bank as FXPD
Wema Bank Plc on Monday announced that it had been appointed as one of the primary dealers in the foreign exchange inter-bank market by the Central Bank of Nigeria. The bank said in a statement that with this new appointment, it was positioned as one of the banks to deal with the CBN in wholesale foreign exchange transactions (minimum of $10m) on a two-way quote basis, among other obligations as stated in the new forex guidelines. Read more
Lafarge Africa concludes N60bn bond issuance
Lafarge Africa Plc has concluded its Series I and II N60bn bond issuance, comprising N26,386,000,000 three-year bond at 14.25 per cent, which is due in 2019, and a N33,614,000,000 five-year bond 14.75 per cent due in 2021. The firm stated that the proceeds of the bond issuance would be used to part refinance the debt of its wholly-owned subsidiary, United Cement Company of Nigeria Limited. Read more
Lagos to reconnect waterworks to IKEDC, generators
The Lagos Water Corporation has said it will soon reconnect some of its waterworks to the Ikeja Electricity Distribution Company and diesel-powered generators to combat water scarcity in the state. The Group Managing Director, LWC, Mr. Muminu Badmus, said this while speaking with journalists recently. Read more
Water operators, govt battle over borehole licence
The Association of Table Water Producers in Nigeria, Lagos State branch, has cried out over a directive of the state government to meter their boreholes and charge them for water drilling. Members of the association, who spoke with our correspondent on Friday, alleged that the directive would lead to job loss and send them out of business. Read more
We’ll prosecute child rights offenders – Commissioner
The Lagos State Commissioner for Women Affairs and Poverty Alleviation, Mrs. Lola Akande, has said that the state would continue to prosecute child rights offenders and provide care for victims of sexual abuse, forced marriages, child labour and inadequate parental care. Akande said this at the commemoration of the Day of the African Child, in Lagos recently. Read more
TASUED hosts pro-chancellors
The fourth biennial conference of pro-chancellors of state universities in the country is to hold at the Tai Solarin University of Education, Ijagun, Ogun State. The conference, titled “ Current Challenges facing State Universities in Nigeria and the Way Forward,” holds between June 27 and 30 at the university. Read more
Forex trading: NSE loses N163bn on first day
The stock market started the week with a loss of N163bn in market capitalisation at the close of trading on the floor of the Nigerian Stock Exchange on Monday. A total of 33 losers emerged, with Ecobank Transnational Incorporated Plc, Nigerian Breweries Plc, Nigerian Aviation Handling Company Plc, PZ Cussons Nigeria Plc and Dangote Sugar Refinery Plc emerging as the top five losers. Read more
Proposed pension, immunity for Saraki, Dogara immoral – Sagay, TUC
The Chairman, Presidential Advisory Committee Against Corruption, Prof. Itse Sagay (SAN), has asked President Muhammadu Buhari to disregard any bill from the National Assembly on life pension and immunity for its principal officers. Also, the Trade Union Congress has strongly condemned the proposed life pension for principal officers of the National Assembly, describing it as ungodly and disgraceful. Read more
Floating exchange rate, a positive step – CIS
The Chartered Institute of Stockbrokers has lauded the Central Bank of Nigeria for the re-introduction and re-modelling of the floating single foreign exchange policy, saying it is a positive and bold step. The move, it noted in a statement on Monday, attested to the dynamism of the apex bank in policy evolution for the greater benefit of the economy. Read more
Rio Olympics: Nigerian athletes beg to survive
As the start off to the 2016 Rio Olympics gets closer, more disheartening stories have continued to seep out from the Nigerian athletes’ camps. Those with the dreams to chase medals in Brazil, especially those based in Nigeria, have resorted to desperate measures to make their participation possible. Athletes are now begging for cash to train and chase their Olympic dreams. Read more
British man charged over attempt to kill Donald Trump at rally
A 19-year-old British man has been charged for trying to grab a police officer’s gun at a Donald Trump rally in Las Vegas in a bid to kill the presumptive Republican presidential nominee. According to a complaint filed in federal court in Nevada, Michael Sandford tried to disarm the officer at Saturday’s rally at the Mystere Theatre in the Treasure Island Casino before being overpowered. Read more
Woman on trial for leaving baby to die on beach
A French woman went on trial Monday for abandoning her baby daughter on a beach at the mercy of a rising tide, which swept in and killed the infant. Fabienne Kabou, 39, described as highly intelligent but believed to be suffering hallucinations and depression, travelled with her daughter from their home in Paris to the northern resort town of Berck-sur-Mer in November 2013. Read more
