SABINEWS MORNING NEWS UPDATE FOR AUGUST 1, 2016
There is corruption in House of Reps – Jibrin
The ousted Chairman of the House Committee on Appropriations, Abdulmumin Jibrin, says the allegation by former President Olusegun Obasanjo that the National Assembly is populated by corrupt elements could not be dismissed.
He said there was what he called institutional corruption in the House of Representatives.
However, Jubrin, who accused the Speaker of the House of Representatives, Yakubu Dogara, and three other principal officers of the House of padding the 2016 budget to the tune of over N400bn, said he had never taken part in any corrupt practice since 2011 that he had been in the National Assembly. Read more
I regret supporting Sheriff to become PDP chairman – Fayose
The Ekiti State Governor, Mr. Ayodele Fayose, said he had learnt his lessons from his initial support for the embattled factional National Chairman of the Peoples Democratic Party, Senator Ali Modu Sheriff.
Fayose said this when the ex-chairman of Daar Communications, Chief Raymond Dokpesi, took his PDP national chairmanship campaign to Ekiti. Read more
EFCC raids NAHCO Lagos office, summons officers
The Economic and Financial Crimes Commission has raided the National Aviation Handling Company at the Murtala Muhammed International Airport in Lagos.
A source in the company confided in our correspondent that the operatives of the commission stormed the complex at about 5pm on Thursday and immediately restricted movement in and out of the premises. Read more
Budget padding: Step down, SERAP, SANs tell Dogara, others
The Socio-Economic Rights and Accountability Project and some eminent lawyers on Sunday called on the Speaker, House of Representatives, Mr. Yakubu Dogara, and other principal officers of the House, who were alleged to have compromised the integrity of the 2016 budget, to step aside for proper investigation to be carried out into the allegations.
A former House Committee Chairman on Appropriation, Abdulmumin Jibrin, who was removed as the committee chairman two weeks ago, had alleged that the four principal officers requested the inclusion of N40bn projects in the 2016 budget. Read more
JAMB makes a U-turn, withdraws candidates’ lists sent to varsities
The Joint Admissions and Matriculation Board has withdrawn the list of recommended candidates for admission it earlier sent to universities and other tertiary institutions.
The announcement was contained in a statement by the spokesperson for JAMB, Dr. Fabian Benjamin, on Sunday in Abuja. Read more
Nigeria will overcome present challenges, says Sultan
The Sultan of Sokoto, Alhaji Saad Abubakar, has assured the United States of America Government that Nigeria will soon overcome its challenges.
He said that the focus, determination and patriotic zeal of President Muhammadu Buhari-led Federal Government was an indication that within a short period, Nigeria’s greatness would begin to manifest soon. Read more
19 militants held as NAF jets destroy four camps in S’West
Pilots of the Nigerian Air Force fighter jets have destroyed the four major camps of suspected militants, who are said to be armed pipeline vandals at Arepo, Ogun State, on the fourth day of the sustained aerial attacks on the hoodlums in the area.
The Director of Information and Public Relations of the NAF, Group Capt. Ayodele Famuyiwa, told The PUNCH on the telephone on Sunday that the NAF was intensifying aerial operations during the day and the night to dislodge the militants terrorising riverside communities of Ogun and Lagos states. Read more
APC’ll take over Anambra next year – Ngige
he Minister of Labour and Employment, Senator Chris Ngige, has said that the All Progressives Congress will take over the reins of power from the incumbent governor of Anambra State, Willie Obiano, next year.
The change, Ngige said, had become necessary because the All Progressive Grand Alliance leadership in the state had not met the people’s expectations. Read more
Disarm Fulani herdsmen, Anglican church tells FG
The Church of Nigeria (Anglican Communion) has called on the Federal Government to take urgent actions to “disarm all Fulani herdsmen ravaging the country.”
The church, which premised its demand on the need to stem the wave of attacks and killings of harmless farmers in the country, also called on the Christian Association of Nigeria to map out strategies to curb the killings of Christians in the country. Read more
Soldiers foil ex-militants’ protest, FG begins payment today
Soldiers on Sunday foiled a protest by ex-militants under the presidential amnesty programme in Warri and Effurun, Delta State.
The protest, it was learnt, was in connection with delayed payment of their monthly stipends,
Our correspondents gathered that the ex-militants drawn from phase 1 and 2 of the amnesty programme had not received their stipends for three months. Read more
Crisis as two leaders emerge in Lagos NMA
Two factions have emerged from the annual election conducted by the Nigerian Medical Association, Lagos State chapter.
The election, which took place at different venues, was supervised by different national officials of the association. Read more
Lagos pays N142m claims to deceased workers’ families
The Lagos State Government has paid N142m to families of deceased workers of the state as insurance claims.
No fewer than 71 families on Friday benefitted from the package which was paid through LASACO Assurance Plc at Alausa, Ikeja. Read more
Return schools to original owners, Ooni tells govt
The Ooni of Ife, Oba Adeyeye Ogunwusi, has called on the government to return schools to their original owners in order to ensure efficient management of the institutions and improve on the quality of education in the country.
He said the sign that public schools, especially those established by missionaries, had lost their sparkle, was evident in the fact that none of those who graduated from those schools, wanted to send their children to those schools today. Read more
Gov candidate: Ondo PDP rules out zoning
Ahead of the November 26, 2016 governorship election in Ondo State, the state’s Commissioner for Information, Mr. Kayode Akinmade, has said the Peoples Democratic Party will pick its candidate based on competence and without considering the zone where such a candidate comes from.
Akinmade said there was no agitation for zoning in the party, stressing that the PDP in Ondo State had no history of picking its governorship candidates based on zoning. Read more
Six inmates rearrested as CG probes jail-break
The Controller-General of Prisons, Ja’afaru Ahmed, has disclosed that six out of the 13 prisoners that escaped from the Koton-Karfe prison in Kogi State have been recaptured.
He said that the six pre-trial detainees were recaptured with the assistance of other security agencies and local vigilante groups, noting that they had been returned to the prison. Read more
Abia: Nullify Ogah’s certificate of return, PDP asks court
The Peoples Democratic Party has urged a Federal High Court in Abuja to nullify the certificate of return issued to Mr. Uche Ogah, recognising him as the winner of the April 11, 2015 governorship election in Abia State.
Joined as a defendant in the suit is the Independent National Electoral Commission.
The PDP is seeking a court order voiding the certificate of return issued by INEC to Ogah and as well as a perpetual injunction restraining Ogah and his agents from relying on the certificate of return. Read more
Atlantic city, a revenue booster, says Ambode
Governor Akinwunmi Ambode of Lagos State says the Eko Atlantic City project is an initiative that will boost the economy of the state and increase its Internally Generated Revenue.
Ambode, who was at the site of the project on Sunday along with members of the State Executive Council, said his administration was committed to the success of the project. Read more
PDP vows to resist rigging in Edo poll
The Peoples Democratic Party in Edo State has vowed to resist attempts by any political party to manipulate the September 10 governorship election in the state.
The state party Chairman , Chief Dan Orbih, stated this at a rally for its governorship candidate, Pastor Osagie Ize-Iyamu, in Ikpoba-Okha Local Government Area of the state. Read more
Why bank manager committed suicide – FCMB
First City Monument Bank Plc says its official, Olisa Nwakoby, who committed suicide on Friday in front of Our Lady Star of the Sea Catholic Church in Lekki, Lagos State, had personal challenges and became frustrated.
The bank, however, noted that neither the management nor colleagues of the deceased were aware of the challenges, adding that it was working with Nwakoby’s family and the police to unravel the nature of the challenges. Read more
Iwo indigenes can become Ooni, says Oluwo
The Oluwo of Iwo, Oba Abdulrasheed Akanbi, on Sunday led some chiefs and prominent indigenes of the town to Ile Ife.
The monarch and his subjects traced their origin to Lafogido Ruling House, which is one of the four ruling houses which has been producing the Ooni of Ife. Read more
Teenagers burgle Lagos school, take seven computer sets
Two teenagers – Yinka Adesola (19) and Ahmed Olaleye (17) – have been arrested by the police in Lagos State for allegedly burgling a public secondary school in the Somolu area of the state.
PUNCH Metro learnt that the suspects, in company with four other suspects, burgled Angus Memorial Senior High School, Somolu, Lagos. Read more
Cultists kill four, shoot two-year-old in Lagos community
There was pandemonium on 24 Road, in the Igbogbo, Ikorodu area of Lagos State, after suspected cult members shot dead four persons.
It was learnt that the six-man gang arrived in the community on Friday around 8pm on two motorcycles.
PUNCH Metro learnt that a 63-year-old native doctor, identified as Rasheed Yusuf, aka Low Banger, who was walking along the road, was the first to be killed. Read more
How FG spent $340m, N27bn in search of oil in the North
AFTER 3 decades of elusive search for hydrocarbons in the Lake Chad Basin where the Federal Government spent about $340 million and additional N27 billion, in seismic expedition, Nigeria looks set to continue its crude oil exploration in the North East region.
But petroleum engineers, investment experts and geologists have warned the Buhari administration could yet burn its fingers in the long run as the geography of the zone may not guarantee a commercial find. Read more
Nigeria’s oil faces threat as S’Arabia cut prices
Saudi Arabia, the world’s largest crude oil exporter, has cut all official selling prices for its crude sales to Asian and the United States clients in August, signalling mounting competition for Nigeria and others.
The country’s state-owned oil company, Saudi Aramco, lowered the pricing terms for Arab Light sold to Asia by the most in 10 months as refineries grapple with falling margins and oversupply. Read more
N3.9tn lost annually to illegal non-oil exports – NEPC
The country is losing $12bn (N3.9tn) annually to informal or illegal non-oil exports, the Nigeria Export Promotion Council has said.
The Managing Director/Chief Executive Officer, NEPC, Mr. Segun Awolowo, was quoted in a statement obtained on Sunday as saying that Nigeria had lost $30bn in oil revenue between 2014 and 2015, adding that the loss was bound to increase this year following the recent cases of oil pipeline vandalism. Read more
If we had thought that the era of politics trumping geo-scientific considerations in the arcane world of oil exploration was gone with the past, last week’s reported directive by President Muhammadu Buhari to the Nigerian National Petroleum Corporation (NNPC) to fast-track oil exploration in the North obviously shows how far the nation is yet to go in that regard. At a parley with the Bauchi State Governor, Mohammed Abubakar, in his office last week, the new Group Managing Director, NNPC, Dr. Maikanti Baru, reportedly informed his visitor of the president’s directive to the NNPC to fast-track oil exploration in the North.
Said he: “We have exploration activities on the frontier basin; that is in the Chad; and also there are some areas close to the Kolmani River where Shell had made indicative discovery of hydrocarbons and Mr. President has directed me to go into that area to reprove and further explore the magnitude and prospects of those finds. Read more
Fayemi, metal exporters team up to grow non-oil revenue
The Ministry of Solid Minerals Development and the Association of Metal Exporters of Nigeria (AMEN) have reached an agreement to develop the potential of the solid minerals sector in line with the economic diversification programme of the government.
The leadership of AMEN paid a courtesy visit to the Ministry of Solid Minerals Development during which the two parties committed to working together to develop the indigenous solid minerals sector and reposition it as a major foreign exchange earner for the country. Minister of Solid Minerals Development, Dr. Kayode Fayemi, and the Minister of State for Solid Minerals Development, Hon Bawa Bwari, received the executive members of AMEN led by its President, Seun Olatunji. Read more
Naira to weaken further on dollar shortage
The naira is expected to continue to weaken this week on limited dollar supply as foreign portfolio investors stay on the sidelines until the Nigeria economy shows signs of recovering from the impact of currency controls, foreign exchange traders have said.
The naira had hit an all-time low of 334.50 per dollar on Wednesday, a day after the Central Bank of Nigeria hiked interest rates to try to lure foreign investors back into local assets, Reuters reported. Read more
Summit seeks to address economic challenges
As the nation continues to battle various economic challenges, World Stage Limited says the 2016 Wordstage Economic Summit will address the nation’s unemployment challenge.
The President/Chief Executive Officer, World Stage Limited, Mr. Segun Adeleye, said the summit, scheduled to hold in Lagos next month, would feature key stakeholders in the economy. Read more
CBN Appeals For Calm As Non-performing Loans Rise To 12.5%
The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has urged the banking public not to panic about the banking system, assuring them that their deposits are safe.
Depositors and investors are generally giving the CBN the benefit of the doubt, after the apex bank shored up mid-tier lender, Skye Bank, this month with a loan and replaced its management when its capital fell below levels required by regulators. Read more
FAAN workers reject airport concession plan
Workers of the Federal Airports Authority of Nigeria have rejected the concession plan by the Federal Government for four international airports in the country located in Abuja, Lagos, Kano and Port Harcourt.
The workers, under the aegis of the Air Transport Service Senior Staff Association and the National Union of Air Transport Employees, have vowed to resist the move. Read more
CBN begins enforcement of dollar sales to BDCs
To increase the volume of dollar in the market and stabilise the naira, the Central Bank of Nigeria (CBN) may compel banks to sell foreign currency proceeds of international money transfers to Bureaux De Change (BDCs).
The CBN is likely to begin the enforcement of its directive to that effect soon, it was learnt yesterday. Read more
Mergers, acquisitions likely in banking sector – Rewane, Utomi, others
A natural consolidation in form of mergers and acquisitions is likely in the Nigerian banking sector, economic and financial experts have predicted.
They said with the myriads of challenges facing the nation’s economy, some banks were likely to experience some challenges that could only be resolved by mergers and acquisitions. Read more
Local debt servicing gulps N1tn in one year
The cost of servicing the Federal Government’s increasing domestic debt hit the N1tn mark for the first time in 2015, statistics obtained from the Debt Management Office have shown.
According to statistics obtained from the DMO, the Federal Government spent N1.02tn to service its domestic debt last year. This comprises of N25bn spent on repayment of the principal and N993.13bn on interest payment within the year. Read more
BoI aiming to reposition Nigeria’s indigenous MSMEs
The Bank of Industry (BoI) believes firmly on the need to develop Small and medium Enterprises (SMEs) and the Micro, Small and Medium Enterprises (MSMEs) towards boosting the country’s economic growth. Giving inisght on how SMEs can access its facilities, Acting Managing Director, BoI, Mr. Waheed Olagunju, said: “Tthe bank’s objective is to re-examine the strategy or to explore means of mitigating the numerous challenges inhibiting the SMEs and MSMEs in the country from accessing loans.” Read more
‘How to harness $21b diaspora remittances’
Diaspora remittances coming to Nigeria can play an important role in poverty reduction and fostering long-term economic growth, an international expert in agricultural economy, Dr Kabir Kayode Salman, has said.
The more than 30 million Africans living in the diaspora last year sent about $40 billion to their relatives and friends in Nigeria as remittances. Read more
NAICOM goes tough on corporate governance defaulters
For chief executives and non-executive directors of insurance companies, the fear of breaching the industry’s Code of Corporate Governance is the beginning of wisdom.
As at last March, over 200 non-executive directors who breached the code were said to have been booted out in the wake of the enforcement of the code by the National Insurance Commission (NAICOM). Read more
Mikel named U-23 captain, as IAAF clears Hicks
Nigeria’s U-23 team coach, Samson Siasia, has appointed Chelsea midfielder, Mikel Obi, as captain of the team for the Rio 2016 Olympic Games.
Nigeria, who are seeking their second Olympic gold, will begin their campaign in Group B against Japan on August 4. Mikel took over from Azubuike Okechukwu, captained the team at the Senegal 2015 U-23 African Cup of Nations. Read more
Like London, like Rio: Olympic disaster looms for Team Nigeria
With the Rio 2016 Olympic Games set to begin on August 5, Team Nigeria are again heading for another catastrophe at the global games, if preparation for the global competition is anything to go by.
While countries have finalised their trainings for the Olympics, Nigeria’s preparations have been in tatters, since athletes began camping in May in Abuja and Lagos, and it remained so even until Friday, when the contingent began the trip to Rio in batches. Read more
Rio Football: South Africa Coach Tips Nigeria, Brazil For Gold
South Africa U-23 coach, Owen Da Gama, has tipped hosts Brazil and Nigeria as favourites for the football gold at 2016 Rio Olympic Games, which kicks off next week.
Nigeria U-23 side are drawn alongside Sweden, Japan and Colombia in Group B, while South Africa is in Group A with Brazil, Denmark and Iraq. Read more
Rangers Regain Top Spot, Wikki Suffer Heavy Defeat
Title pushers, Enugu Rangers, on Sunday, regained the leadership of the Nigeria Professional Football League (NPFL) table after forcing Enyimba to a 1-1 draw in Umuahia.
That was even as Wikki Tourists of Bauchi, also on Sunday, suffered a 0-3 defeat to Akwa United at the Nest of Champions, Uyo. Similar result was also recorded in Makurdi in the match involving Lobi Stars and Warri Wolves, where the home side tore apart the visitors from Delta State. Read more
Official: Midfielder jets into London along with his agent to complete five-year deal
Kelechi Nwakali will arrive in North London on Monday to complete a transfer to Arsenal, it has been confirmed by All Soccer Nigeria
The 18-year-old midfielder has been a long-term target for the Gunners after he impressed at last year’s FIFA under-17 World Cup, being named Player of the Tournament as he led Nigeria to the title. Read more
Messi lacks Maradona´s personality, says Sacchi
Former AC Milan and Italy coach Arrigo Sacchi feels Diego Maradona was a better player than Lionel Messi and believes the Barcelona star does not have the same strong personality his compatriot had.
Messi is widely regarded as one of the best players in the history of the game and a has won a plethora of medals with Barcelona, while collecting the prestigious Ballon d’Or award on five occasions. Read more
MH370: Crash expert says plane was flown into water
A leading air crash investigator believes missing flight MH370 was deliberately flown into the sea.
Larry Vance, who investigated the 1998 SwissAir 111 crash, said he was confident the Malaysian Airlines jet was being piloted in its final moments. Read more
Formula 1 Head Bernie Ecclestone’s Mother-in-Law Rescued from Kidnappers
None of the $36.5 million ransom demanded was paid
The mother-in law of Formula 1 chief executive Bernie Ecclestone has been freed from her captors after being abducted in Brazil ten days ago, police in the southeastern city of São Paulo said Sunday. Read more
Extremists destroy 16th century mosque in Yemen
slamist extremists in Yemen have blown up a 16th century mosque housing the shrine of a revered Sufi scholar in the city of Taiz, a local official said Sunday.
Gunmen led by a local Salafi chief known as Abu al-Abbas blew up the mosque of Sheikh Abdulhadi al-Sudi on Friday night, the official told AFP, confirming media reports of the attack. Read more
Taliban truck bomb rocks hotel for foreigners in Kabul
A massive Taliban truck bomb struck a hotel for foreigners on the outskirts of Kabul early Monday, officials said, just days after the deadliest attack in the Afghan capital for 15 years.
There was no immediate word on casualties from the powerful bombing, which occurred close to a military base next to Kabul’s international airport, and rattled windows several kilometres (miles) away. Read more
Two men arrested in connection with French priest’s murder by ‘Isis’ terrorists
Two men have been placed under formal investigation in connection with the killing of an elderly priest in a church in France, including a cousin of one of the attackers.
Adel Kermiche, 19, along with Abdel Malik Petitjean, also 19, took six people hostage at a church in Saint-Étienne-du-Rouvray, near Rouen in Normandy, before slitting the throat of its 86-year-old priest, Father Jacques Hamel, during a morning mass at around 10am local time on Tuesday. Read more
US should accept Russian takeover of Crimea, Trump suggests
Republican presidential candidate Donald Trump has sparked new controversy by suggesting that the US should accept Russia’s annexation of Crimea if it leads to better relations with Moscow and stronger co-operation in fighting Islamic State militants. Read more