Sabinews Daily Morning News Update for August 16, 2014MORNING Icon


Don’t use soldiers for elections – IBB

Former military president General Ibrahim Badamasi Babangida has said that the military have no business in supervising elections, stressing that policing of election processes should be left to the police.

He made this remark yesterday while fielding questions from newsmen in Minnaon the occasion of his 73rd birthday coming up tomorrow. Read more

Family of five found dead in Abeokuta, foul play suspected

Tragedy  struck  yesterday,  at  Temidire Community, in Sabo, Abeokuta North Local Government  area of Ogun State when  a family of five including father, mother and their three children were  found dead in their room.

The incident which occurred  at No 3, Ireti Akinbode area of the community  involved the death of Aliu Adeboye ,  his younger wife identified as Iya  Aliya and the three children. Read more

Peter Obi resigns as APGA BoT chairman

Former Governor of Anambra State, Mr. Peter Obi has tendered his resignation letter as Leader of the All Progressives Grand Alliance, APGA and the Chairman of the Party’s Board of Trustees, BoT.

In a resignation letter addressed to the National Secretary of the Party and submitted at the Party’s Abuja office on Friday, quoted Mr. Obi as saying that he was resigning as Leader and BoT Chairman; an appointment he got in January 2014. He was inaugurated by the National Executive Council of the Party. According to Obi, the appointment was yet to be ratified by a Convention of the party as stipulated by the constitution. Read more

Occupy Social Media, Presidency Tells Supporters

The presidency yesterday openly challenged the supporters of President Goodluck Jonathan all over the country and in the diaspora to use social media platforms to discuss President Goodluck Jonathan’s achievements, ahead of the 2015 general elections.

Special assistant to the president on Political Affairs, Prof. Rufa’i Ahmed Alkali, who spoke at the official inauguration of Friends Of Goodluck (FOG) yesterday in Abuja, said the president’s supporters were not supporting him enough on social media. Read more

FG To Deploy 490 Health Officers To Borders

Worried by the increasing Ebola cases in the country, the federal government has directed the federal ministry of Environment to urgently deploy about 490 environmental health officers to the nation’s gateways to help in the detection and prevention of the scourge.

Speaking during the inauguration of an 11-member governing board of environmental health officers in Abuja yesterday, the minister of environment, Mrs Laurentia Laraba Mallam disclosed that the new officers would be employed and deployed to the nation’s borders and airports to detect the virus, among visitors coming into the country. Read more

Arewa warns Pro-Jonathan campaigners

The Arewa Consultative Forum on Friday once again warned supporters and campaigners of President Goodluck Jonathan for the 2015 Presidency to tarry awhile, saying that any rally to garner support for the president at this moment of grief in the country was ill-conceived and of great security threat.

The Forum said it was a flagrant abuse of the Electoral Act for any political rally to take place in favour of President Jonathan even when the Independent National Electoral Commission was yet to lift ban on electioneering campaign. Read more

Ex-PHCN Staff in Sapele Protest Over Unpaid Salaries

It was a protest galore at the Sapele Power PLC, as the ex-staff of Power Holding Company of Nigeria (PHCN) embarked on protest, demanding for the payment of their March salary and other subsequent months and benefits by the Eurafic Power Limited, who recently took over the company.

The protesters, which comprise the National Union of Electricity Employee and the Senior Staff Association of Electricity and Allied Company, were seen carrying placards with different inscription urging the management of the Eurafic Power Limited to pay their salaries and other entitlements. Read more

CBN, banks mull support fund for vulnerable, food security, PHCN legacy debt

The Central Bank of Nigeria (CBN) and deposit money banks (DMBs) have unanimously agreed to set up a N15 billion Victim Support Fund to help the vulnerable in the society.

They are also supporting food security and the settlement of the defunct Power Holding Company of Nigeria (PHCN) legacy debt. Read more

NCC to regulate unsolicited VAS from telecoms

The Nigerian Communications Commission (NCC) has decided to regulate the activities of Value Added Service (VAS) operators in the country, especially in the area of unsolicited mails that are regularly sent to telecoms subscribers.

The plan is to put in place, regulatory framework to protect consumers and also create revenue streams for service providers in the industry. Read more

Chad forces free Nigerians kidnapped by Boko Haram

Nigeria’s Boko Haram militant group kidnapped 100 people on Sunday but most were freed by security forces from neighbouring Chad, a Nigerian security official and a local self-defence member said on Friday.

The abductions took place on 10 Aug in Doron Baga in the Kukawa area near the border with Chad, said the official, who spoke on condition of anonymity because he was not authorised to speak to the media. Read more



World News

China Catholics stopped going to South Korea for pope’s visit

Days after Chinese officials blocked Catholics from seeing the pope in South Korea, it’s still unclear who was behind the action or why it was taken.

Reports say about 50 Catholic clergy and laypeople were stopped at Chinese airports earlier this week. Read more

Tens of thousands protest Pakistan’s government

Tens of thousands of protesters rallied Saturday in Pakistan’s capital, defying the pouring rain to demand the prime minister step down in the biggest challenge yet to the country’s government.

Imran Khan, a famous cricketer who now leads the country’s third-biggest political bloc, and a fiery anti-government cleric called for the rallies in Islamabad, focused on making Prime Minister Nawaz Sharif leave office and holding new elections. Read more

Missouri police claim killed teen ‘robbed store’

Police say a black teenager shot dead by an officer was suspected of robbing a store shortly before he was killed.

They released documents saying Michael Brown, 18, was believed to have stolen a £30 box of cigars from a convenience store in a “strong-arm” robbery in Ferguson, a predominantly black suburb of St Louis, Missouri. Read more

Texas Governor Rick Perry indicted

Governor Rick Perry of Texas has been indicted by a federal grand jury on charges of abusing his power by carrying out a threat to veto funds for an anti-corruption unit.

The indictment, which was announced last night, means Mr Perry is the first Texas Governor to be indicted in nearly 100 years. Read more


News Update the Economy

Naira depreciates against dollar, pound, euro

The Naira on Friday depreciated against the three major currencies at the three segments of foreign exchange market.

The three markets are the Official Market, Bureau De Change (BDCs) and Black Market.

At the Bureau De Change, the currency sold for N168 to the dollar as against the N165 that it sold for on Monday, Aug. 11.

At the Official Market, it sold for 155.23, the same amount it traded for on Monday.

At the Black Market, it went down by N2 from N168 to sell for N170 to the dollar. Read more

Group Seeks Increased Sensitisation on Banking Services

The Bank Customer Association of Nigeria (BCAN) has called for the protection of the interest consumers of financial service products in the country.

The association also stressed the need for banking services to be conducted based on acceptable values and best practices in the country. Read more

Port Costs Remain High Despite Regulator

No downward trend or reduction has been observed in Nigeria seaport cost system, despite the appointment of an economic regulator for the port.

President Goodluck Jonathan appointed the Nigeria Shippers’ Council (NSC) as seaports economic regulator in February 2014, with a temporary status and with prior mandate to check arbitrary charges at the port, but the cost of doing business at the ports only went up with new charges associated with the pre-arrival assessment report (PAAR) and other new trade policies, LEADERSHIP investigations have revealed. Read more

2442 BDCs Scale CBN’s Recapitalisation Hurdle

The Central Bank of Nigeria (CBN) last night published a list of 2442 licensed Bureau De Change (BDC) firms which it said had complied with its new capital requirements of N35 million as at July 31, 2014.

Also yesterday, the CBN and Western Union Company in collaboration with First Bank of Nigeria (FBN) jointly launched an outbound remittance service in the country. Read more

CBN seeks stakeholders’ collaboration to fight e-fraud

The Central Bank of Nigeria (CBN) has said it is the collaborative efforts of stakeholders including banks, e-payment service providers, among others, that can help fight and reduce to the barest minimum activities of electronic fraudsters in the country.

Meanwhile, Godwin Emefiele, CBN governor, as part of the key initiative of the bank will today launch the outbound money transfer services in partnership with the Western Union Money Transfer (WUMT). Read more


News Update on Oil and Gas

Eland Oil & Gas announces acquisition of 40% interest in the Ubima Field, onshore Niger Delta

Eland, the oil and gas exploration and development company with a focus on Nigeria and West Africa, is pleased to announce that Wester Ord Oil & Gas Limited, a wholly owned subsidiary of Eland, has agreed to acquire a 40 per cent. participating interest in the Ubima Field (Ubima) from Allgrace Energy Limited.

The most recent independent 2C resources estimate for Ubima is 34 MMbbl of oil (independent report prepared by AGR TRACS). There is also a significant upside 3C resource estimate of 66.9 MMbbl of oil with an extra 2C resource estimate of 97 Bcf of non-associated gas in two reservoirs. Read more

Dangote Cement Profit Falls as Gas Supply Issues Boost Costs

Nigeria’s largest company and the continent’s biggest producer of the building material, said first-half profit declined 11 percent as operating costs increased due to gas supply disruptions.

Net income was 95.4 billion naira ($586 million) in the six months through June, compared with 107.7 billion naira a year earlier, the Lagos-based company said today in a filing to the Nigerian Stock Exchange. Revenue rose 5.3 percent to 209 billion naira while cost of sales gained 14 percent to 75.4 billion naira. 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]

Related posts

Leave a Reply

Your email address will not be published.