* Nigeria’s economy not booming – Obasanjo (Punch) * BVN: Banks move to stop deposit forfeiture, lobby AGF (Punch)

* Nigeria’s economy not booming – Obasanjo (Punch)    * BVN: Banks move to stop deposit forfeiture, lobby AGF (Punch)

SABINEWS MORNING NEWS UPDATE NOVEMBER 6, 2017

 

Nigeria’s economy not booming – Obasanjo (Punch)

Former President Olusegun Obasanjo has observed that Nigeria’s economy is not booming yet. He made the observation at the 52nd Annual Service of Songs of the 1st ECWA Church, Ilorin, the Kwara State capital. Obasanjo, who spoke in Yoruba during the church service, urged Nigerians to be patient, adding that the current hard time would not last. “This current hard time will not last. The economy is not booming. Everyone is feeling the heat but people should be patient. Read more

BVN: Banks move to stop deposit forfeiture, lobby AGF (Punch)

Deposit Money Banks in the country are lobbying the Office of the Attorney General of the Federation to back down on the plan by the Federal Government to seize monies in the bank accounts of customers without the Bank Verification Number, it has been learnt. A Federal High Court in Abuja had ordered the forfeiture of all monies in bank accounts owned by corporate organisations, government agencies and individuals without the BVN. Read more

We’re winning the battle to revive economy –FG (Punch)

The Federal Government has said the impact of its economic policies will be felt soon by Nigerians. The Minister of Information and Culture, Alhaji Lai Mohammed, gave the assurance in Lagos during a press conference titled, ‘The Muhammadu Buhari administration is putting the economy on a winning path.’ He said, “We are winning the battle to revive the economy. We are fighting corruption like never before. We are tackling insecurity with renewed vigour. Read more

Nigeria not an Oil Economy, says Adeosun (ThisDay)

The Minister of Finance, Mrs. Kemi Adeosun, has declared that changing the Nigerian economic psyche is not an easy task, stating that the current tax drive of the President Muhammadu Buhari administration was not designed for short-term lure of political expediency. In an article captioned: ‘All Change:  Nigeria is Not An Oil Economy,’ Adeosun said: By its nature, tax mobilisation risks the popularity of any government, but the present administration understands that the short-term lure of political expediency must give way to the long-term best interests of Africa’s largest economy.” Read more

High interest rate killing manufacturing sector – CANMPSSAN (SUN)

Workers in the chemical sector have cautioned the Federal Government that Nigeria may not be able to optimise the manufacturing sector as a driving force in economid recovery, with the current high interest rate. The workers, under the umbrella of the Chemical and Non-Metallic Senior Staff Association of Nigeria (CANMPSSAN), said that high interest rate was one of the many challenges bedevilling the manufacturing sector and hindering it from playing its vital role in the nation’s economy. Read more

Dangote pledges $100m to tackle malnutrition in Nigeria (Punch)

The Aliko Dangote Foundation has pledged to invest $100m over five years to tackle malnutrition in the worst-affected parts of Nigeria. The foundation made the pledge at the recently concluded Global Nutrition Summit 2017, held in Milan, Italy, which brought together governments, international agencies, foundations, civil society organisations and businesses to accelerate the global response to malnutrition, an underlying cause of nearly half of all global child deaths. Read more

FX Transactions on I&E window Hit $18.36bn, rates converge at N360 (ThisDay)

Following increased portfolio flows into the country, cumulative transactions on the Central Bank of Nigeria’s (CBN) Investors’ and Exporters’ (I&E) foreign exchange window have risen to $18.36 billion. The chief executive of Financial Derivatives Company Limited, Mr. Bismarck Rewane revealed this in a presentation at the monthly Lagos Business School’s breakfast session for November. Read more

Paris Club refund: Three more governors indicted (Nation)

Three more governors are believed to have diverted the London-Paris Club refund,  Economic and Financial Crimes Commission (EFCC) sources said yesterday. Besides, another slush account has been uncovered. The governors and their cronies are under investigation. Some of those implicated in the mismanagement and diversion of the refund will soon face trial, The Nation learnt. Governors have been pushing for the release of the third tranche of the refund. President Muhammadu Buhari is said to be weighing the request. Read more

Igbo will produce president after Buhari’s second term —Kalu (Punch)

A former governor of Abia State and a chieftain of the All Progressives Congress in the state, Chief Orji Kalu, has said the Igbo can be sure of producing a president in 2023 if they support the re-election bid of President Muhammadu Buhari. Kalu, who urged the Igbo to wake up and learn from their past political experience, stated that the “future of the Igbo in Nigerian politics is brighter now than it has ever been in the past with the APC.” Read more

Court stops military from demolishing houses in estate (Punch)

Residents of Mesiogo Estate in the Akobo area of Ibadan, Oyo State, have secured a court injunction against the planned action of the 2 Division of the Nigerian Army, Adekunle Fajuyi Cantonment, to demolish their houses and take over the land. Punch Metro had reported that landlords in the area said some soldiers from the barracks came last week to inform them that the land on which the estate was located fell within the military barracks boundaries. Read more

Nigerian kidney patient stranded in India for two years (Punch)

The chance of survival of a patient who is suffering from a kidney disease, Tochi Mbonu, now hangs by a thread after she became deaf due to the delay in a kidney transplant operation. Punch Metro learnt that 31-year-old Tochi, a graduate of the Benue State University, had been on dialysis for the past three years. Her mother, Ndidi, told our correspondent on the telephone that she and Tochi were stranded in India, where they had hoped to carry out the operation. Read more

Two feared dead as police, Shi’ites clash in Kano (Punch)

Members of the Islamic Movement of Nigeria, popularly called Shi’ites on Sunday, claimed that the police killed two of their colleagues during their Arbaeen annual trek in Kano.  The IMN members had started the trek from Kofar Mazugal in the Kano metropolis around 10am and later stopped for the afternoon prayers at Kofar, Nasarawa at the popular Lado overhead bridge. An eyewitness said it was at Lado on Zaria road that the sect members were intercepted by policemen. Read more

Nigeria win FIBA Africa 3×3 (Punch)

Nigeria on Sunday won the men’s FIBA Africa 3×3 Championship in Lome, Togo after beating Ivory Coast 21-9 in the final. The women finished second after they lost 12-11 to Mali in their final. The competition, which began on Friday, featured 13 countries. The men’s team has Azuoma Dike, Godwin David, Lucky Subel and Yahaya Abdul while the women’s team is made up of Nkechi Akashili, Deborah Nwakamma, Josette Anaswem and Nkem Akaraiwe. Read more

Simon adds to Eagles’ injury woes (Punch)

KAA Gent winger Moses Simon has joined several Super Eagles stars on the treatment table ahead of Friday’s insignificant 2018 World Cup qualifier against Algeria in Constantine and the international friendly against Argentina in Krasnodar, Russia, on November 14. Only pride is probably at stake against the Desert Foxes, as the Eagles have booked their place at next year’s World Cup but they would use the Argentina game to kick-start their preparations for the Mundial. Read more

Ishaku disbands FC Taraba, Taraba Queens (Punch)

The Taraba State Government has disbanded the two state-owned clubs, FC Taraba and Taraba Queens, with immediate effect. According to a statement on Saturday by the state’s Commissioner for Youth and Sports, Gambo Indafo, the players were directed to hand over all government property in their possession to the Ministry of Youth and Sports. Indafo said the government decided to disband the clubs after a committee constituted by the state governor, Darius Ishaku, discovered many irregularities in the running of the clubs. Read more

Golf: Kwara Open tees-off (Punch)

Professional golfers will converge on the Ilorin Golf Club from Monday for the practice round ahead of the 5th Kwara Open which tees-off on Tuesday. The Director of the Professional Golfers’ Association of Nigeria, Samson Lawal, assured that top-ranked Nigerian professionals would be available for the 72-hole championship. “We are glad Kwara Open is making its return to our calendar. We thank Governor (Abdufattah) Ahmed for keeping to his words, during the closing ceremony of Kwara at 50 Open Golf tournament, to revive the event,” Lawal said. Read more

Conte stirs Mourinho feud with handshake snub (Punch)

Chelsea manager Antonio Conte stirred up his feud with Jose Mourinho by ignoring the Manchester United boss at the end of his side’s vital 1-0 victory on Sunday, AFP reports. Conte and Mourinho have traded barbs on several occasions this season and only this week the Italian claimed it was a miracle Chelsea managed to win the Premier League last season given the mess he inherited from Mourinho. Read more

Everton snatch victory after incredible comeback (Sportskeeda)

Everton staged a remarkable comeback to beat Watford 3-2 and escape the Premier League relegation zone on Sunday — Leighton Baines converting a stoppage-time penalty to lift the gloom at Goodison Park. A remarkable climax to the game saw Watford’s Tom Cleverley then miss a penalty in the 11th minute of added time. It was the first time since a 1994 clash with Wimbledon that Everton have overturned a two-goal deficit to win a Premier League game and it delighted caretaker manager David Unsworth who tasted victory for the first time. Read more

Arsenal, Chelsea among Premier teams interested in Ajax’s Frenkie de Jong (Kwese.espn)

Ajax midfielder Frenkie de Jong could be the subject of a three-way Premier League transfer tussle, according to the Sun. It reports that Arsenal, Chelsea and Manchester City are all interested in the 20-year-old, who has starred since breaking into the Ajax first team. Read more

Antonio Conte insists his decision to drop David Luiz from Chelsea’s matchday squad was ‘tactical’ (Independent)

Antonio Conte has maintained that David Luiz getting dropped from Chelsea’s 1-0 win over Manchester United was a “tactical decision” even though the defender was left out of the match-day squad altogether. There had been speculation that the Brazilian had been punished for his reaction to getting subbed off during the dismal 3-0 defeat to Roma but he dismissed there was anything more to it than form. Read more

Asian stocks down after weak US jobs, as Trump trip in focus (Abcnews)

Asian markets slipped on Monday as weaker-than-expected U.S. jobs figures dented sentiment. Investors were also keeping an eye on President Donald Trump’s visit to Asia, where he is expected to discuss North Korean nuclear issues with leaders in the region. KEEPING SCORE: Japan’s Nikkei 225 was flat at 22,541.55, while South Korea’s Kospi dropped 0.9 percent to 2,536.27. Hong Kong’s Hang Seng index slumped 1.4 percent to 28,214.79 and the Shanghai Composite Index fell 0.3 percent to 3,361.21. Australia’s S&P/ASX 200 dipped 0.2 percent to 5,948.40. Stocks in Southeast Asia were mixed. Read more

Typhoon death toll in Vietnam climbs amid widespread floods (Washingtonpost)

A powerful typhoon that rocked Vietnam has killed at least 44 people and caused extensive damage to the country’s south-central region. The Vietnam Disaster Management Authority said in a statement Monday that widespread flooding was reported in the region and more than 116,000 houses have been destroyed or damaged. In addition to the dead, 19 people are missing, including nine crew members of cargo ships that sank off the coast of Khanh Hoa province. Eighty-eight other crew members were rescued earlier. Read more

Hero of Texas church shooting tells of car chase after gunman (Guardian)

A dramatic account of a high speed car chase after a mass shooting in a Texas church has emerged from one of the gunman’s pursuers, who describes a gunfight and subsequent crash. Motorist Johnnie Langendorff has told how he was driving near to Sutherland Springs First Baptist Church on Sunday morning when he saw two men shooting at each other. He saw the church gunman – now named as Devin Kelley – take off in his car and a member of the local community came over to ask for help. 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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