SABINEWS MORNING NEWS UPDATE FOR AUGUST 14, 2016
EFCC to grill Jibrin again this week over N418m contracts
The Economic and Financial Crimes Commission is set to quiz a former Chairman, House of Representatives Committee on Appropriation, Mr. Abdulmumin Jibrin, again this week over a petition alleging “fraudulent award” of contracts worth N418m to firms linked to him.
The petition, dated July 26, 2016, was written by the Anti-corruption Unit of the National Youth Council of Nigeria. Read more
Nigerians arrested for drug trafficking not our members — MFM
Mountain of Fire and Miracles Ministries Church, popularly called MFM, has denied that eight Nigerians arrested by Cambodian authorities for alleged drug trafficking are its members.
Eight Nigerians were on Tuesday arraigned in Cambodia for allegedly using the MFM premises to deal in illicit drugs. Read news
World Bank delaying return of $321m Abacha loot — Switzerland
The repatriation of the $321m looted by late Gen. Sani Abacha may not be done anytime soon as the Swiss government says the World Bank has to finalise the projects to be executed with the money by the Federal Government.
The Swiss government explained that a bilateral agreement for the restitution of the money would then be signed afterwards, which would form the basis for the transfer of the money. Read more
PDP chair: Obey elders, step down, George tells Agbaje
A former Deputy National Chairman of the Peoples Democratic Party, Chief Bode George, says he is very disappointed with the insistence of the Lagos State governorship candidate of the PDP in the 2015 election, Jimi Agbaje, not to step down for him over the national chairmanship contest of the party.
George, who supported Agbaje during the governorship election, said he expected that Agbaje would do the same for him on his ambition to become the next chairman of the PDP. Read more
Presidency Confirms Death of SSA to President on Economic Matters
The Presidency has confirmed the death of the Senior Special Assistant to the President on Economic Matters, Mr. Ayoleke O. Adu. He was aged 44.
A statement issued yesterday by the Senior Special Assistant to the Vice President, Mr. Laolu Akande described Adu as a diligent economic professional and Certified Financial Analyst (CFA) who passed on last week Saturday after a period of illness. Read more
Eko Atlantic City, Energy City, Dangote Refinery: Ambode’s eyes on Lagos’ future
That Nigeria’s economy is not healthy is no longer news. However, the effect of the economic downturn is fast manifesting across the country.
While some states can no longer paying workers’ salaries regularly, some are forced to visit Abuja with cap in hand, hoping for bail out from the government at the centre. Read more
State lawmakers slam Dogara, say padding is corruption
More troubles came the way of the embattled Speaker of the House of Representatives, Yakubu Dogara, on Saturday, as lawmakers from State Houses of Assembly carpeted him for claiming that ‘padding’ was not an act of corruption but a normal legislative process.
The state legislators in separate interviews with SUNDAY PUNCH correspondents across the country, expressed their anger against Dogara and maintained that ‘padding’ is criminal and that whoever is involved in such act should be prosecuted. Read more
APC didn’t know things were this bad during campaign — Odigie-Oyegun
The National Chairman of the ruling All Progressives Congress, Chief John Odigie-Oyegun, has said the party did not know while it was campaigning that the economy of Nigeria was in a very bad state.
The APC chief said the emergence of a president of Buhari’s stature and the APC-led government “at this critical time” was God’s doing. Read more
Troops Move against Rustlers in Katsina State, Recover 49 Cattle, 29 Sheep
The troops of 35 Battalion, 1 Brigade Nigerian Army in a joint patrol with elements of Nigeria Security and Civil Defence Corps (NSCDC), Katsina State, under the auspices of Operation Sharan Daji, on Friday, carried out joint operations along Tsambe-Fafare road, Jibia Local Government Area of Katsina State.
The Director of Army Public Relations (DAPR), Col. Sani Usman, in a statement yesterday, said the operation was predicated on information received by well-meaning citizens that three gunmen were sighted on motorcycles. Read more
Boko Haram: Don’t lose focus, experts advise FG
Security experts have urged the Federal Government not to lose focus, in the light of a crisis reportedly bedevilling Boko Haram.
The calls came on the heels of erstwhile Boko Haram leader Abubakar Shekau’s threat last week to attack President Muhammadu Buhari and the Islamic State’s announcement of a new leader for the sect. Read more
Illegal arms: Court remands 57 in Niger prison
A Chief Magistrates’ court in Minna, Niger State, on Friday ordered the remand in prison of 57 suspects arrested in Kpaidna and surrounding villages during an invasion of the community by the Nigerian Army to seize hidden illegal arms.
The Deputy Chief Registrar of the court, Ahmed Bima, who gave the order when the suspects were arraigned, also adjourned to September 6 further mention in the case. Read more
Give Muslims fair treatment, Sultan advises FG, states
The Sultan of Sokoto, Alhaji Sa’ad Abubakar III, has called on governments at all levels to accord equal rights to Muslims as part of the efforts to promote unity in the country.
The Sultan spoke during the General Assembly meeting of the Nigerian Supreme Council for Islamic Affairs held in Benin, the Edo State capital, on Saturday. Read more
My attack politically motivated, says Ekiti PDP spokesman
Three armed men on Friday night allegedly attacked the Publicity Secretary of the Peoples Democratic Party in Ekiti State, Mr. Jackson Adebayo.
Adebayo said he was accosted by three armed men on a motorbike at Federal Housing Estate in Ekiti at about 9 pm while he was on his way to attend a church vigil. Read more
Kogi APC chief, four others kidnapped
A chieftain of the All Progressive Congress in Kogi State, Idris Ozi Shaibu, and four others have been kidnapped at Osara along Okene-Lokoja-Abuja Highway in Adavi Local Government Area of Kogi State.
According to a source, the party leader was on his way from Abuja on Friday night when seven gunmen stopped his vehicle and kidnapped him. Read more
Pipeline attacks: Air Force to launch major operation against militants
The Nigerian Air Force on Saturday said it would soon launch aerial operation in the South-South to protect critical infrastructure and the people of the region.
The Chief of Air Staff, Air Staff, Air Marshall Sadique Abubakar, said that having substantially addressed the security situation in the North-East, the focus of the NAF was to prevent the destruction of the nation’s infrastructure. Read more
PDP leaders shun Sheriff, set for convention
Governors, leaders and other members of the Peoples Democratic Party have resolved to snub the factional National Chairman of the party, Sen. Ali Modu Sheriff, as they resolved to go ahead with the party’s national convention.
The convention holds in Port Harcourt on Wednesday, August 17. Read more
Navy parades two suspected members of Avengers
The Nigerian Navy on Saturday paraded two suspects believed to be members of the militant group, Niger Delta Avengers, arrested by officers of the Nigerian Navy Ship in Delta State.
While parading the suspects at the Warri Naval Base, Warri, Commander, NNS Delta, Commodore Joseph Dzunve, said the suspects were behind series of attacks on oil and gas facilities, especially in Warri South-West Council Area of the state. Read more
Residents of riverine communities shun flood alert
Residents of the flood-prone areas in 12 states across the country have ignored warnings from the relevant Federal Government agencies to relocate their families to safer areas to avoid an impending major flood disaster any moment from now.
Last week, NEMA announced that flood alerts received from the Republic of Niger on the rise in the water level of its river has shown that Nigeria may suffer severe floods that can be compared to what was experienced in many states in 2012. Read more
Rivers: Kidnapper escapes as police engage gang in shoot-out
A member of a gang of suspected kidnappers who intercepted a commercial bus, set it ablaze and abducted 14 passengers on board in Rivers State, escaped with a gunshot injury after a shoot-out with the police on Friday evening.
The kidnappers had ambushed the bus, which was heading to Omoku in Ogba/Egbema/Ndoni Local Government Area from Port Harcourt at about 4pm. Read more
Police arrest woman for ‘breaking’ five-yr-old stepson’s legs, arms’
Men of Ogun State Police Command have arrested a housewife, Fatimoh Olanrewaju, for allegedly breaking the arms and legs of her five -year -old stepson.
The woman, who lives at Onihale village, along old Abeokuta-Lagos expressway, was said to be fond of maltreating the boy. Read more
Abomination! Catholic priest married two wives
Parishioners at Queen of Apostles Catholic Church, Kakuri parish, Kaduna State, are still in shock following revelation that the parish priest, Very Reverend Father Peter Zuni, 54, was engaged in a secret marriage to two women, an act that led to his being disrobed and sacked from the priesthood.
Sunday Sun gathered that one of the wives is already late, while the surviving one who blew the whistle about three weeks ago over the secret marriage is said to be nursing a child for the embattled priest. Read more
Nigeria loses N88bn as India, US reduce oil imports
India and the United States have slashed their imports of Nigerian crude oil by 43 per cent and 53 per cent, respectively, translating to a loss of at least N88bn in earnings, the latest report from the Nigerian National Petroleum Corporation has shown.
India, which became the single largest buyer of Nigerian crude in 2013 after the US, reduced its imports from Nigeria in May this year as it bought 7.74 million barrels, down from 13.51 million barrels in April; 12.51 million barrels in March and 12.70 million barrels in February. Read more
Revisiting FG’s Plan to Import Crude Oil from Niger, Chad
Reports have it that the refinery has on its table, two options it is considering to keep crude flowing into it. One of them is the importation of crude oil, including heavy crude from Niger and Chad.
While this is not entirely a new development because either way, heavy crude for the refinery is often reportedly imported into the country for it, experts in the country’s oil and gas industry however feel that the refinery which has largely operated at a loss must come with a very tight commercial term on which this would work. Read more
Scarcity of Jet A1: Airline operators count losses
The acute shortage of aviation fuel, otherwise known as Jet A1 in the country has began to take its toll on the operations of the domestic airlines with attendant delays and outright cancellations of flights, a development stakeholders argue, does not bode well for the sector. In this report Ibrahim Apekhade Yusuf and Bukola Aroloye examine the issues
For domestic airline operators, times are indeed really hard. As the scarcity of aviation fuel, popularly known as Jet A1 takes its toll on airlines, majority of the operators have literally been at their wits end these past few months. Read more
We took the best economic decision, says Emefiele
The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, on Saturday said the apex bank took the best monetary policy option in addressing the current economic challenges facing the country.
He also said that except Nigerians embrace fully the concept of diversification, the country would not be able to generate enough foreign exchange to cushion the effect of the drop in the value of the naira. Read more
Security expert commends CBN gov for monetary policies
SECURITY expert and one-time Delta State governorship aspirant, Ben Enwosa-Williams, has extolled the Central Bank of Nigeria, CBN, Governor, Godwin Emefiele for implementing “proactive monetary policies” under the ailing economy.
At a roundtable interaction with the elite group, Illah Great Minds, during funeral of the late Coach Stephen Keshi at Illah, Oshimili North council area, Delta State, Enwosa-Williams said, it takes an exceptional good head to manage monetary policies in an ailing economy. Read more
Enelamah: We’re Reforming Nigeria’s Business and Investment Environment
The Minister of Industry, Trade and Investment, Okechukwu Enelamah, has said Nigeria’s ongoing economic challenges offer an unprecedented opportunity to restructure and diversify the economy.
Enelamah, who spoke recently on Channels Television’s Sunrise Programme, said, “I believe that depending on what we do with this crisis we’re facing, it could actually be the impetus for this diversification. It’s extremely important that we make the most of what we’re going through.” Read more
Is Mergers & Acquisitions Imminent in Banking Sector?
As the country’s economic challenges, headlined by shortage of foreign exchange (FX) and a ‘technical recession’, continue to take their toll on the banking sector, there are suggestions of merger and acquisition (M&A) in the sector. The Central Bank of Nigeria (CBN) has however assured that no bank in the country is in distress or likely to enter into the distress mode.
The latest discourse on possible merger and acquisition in the nation’s banking sector is not new. It was first mooted earlier in the year in the wake of the currency challenge that birthed the debate on whether or not to devalue the naira. Read more
‘Pension funds critical to economy’
The nation’s pension funds play critical role in economic development, the Director General of the National Pension Commission (PenCom), Mrs. Chinelo Anohu-Amazu has said.
She spoke as a special guest of honour at the 17th annual lecture of the Catholic Brothers United (CBU) in Lagos. Read more
The economic imperative of the eastern corridor
If any lesson must be learned, and any good come from the current political and economic isolation of the Eastern parts of Nigeria, by the current APC-led government of President Muhammadu Buhari, it must be that ultimately, the states of the former Eastern region have more common grounds for political and economic action in the common interest of its people.
The East of Nigeria does exist as a geographical reality. The contiguity of its various parts make it one of the most exciting areas for economic integration through strategic infrastructural linkages. Read more
Firms set to launch electric cars in Nigeria
A firm, Carbon Credit Network (CCN) has concluded plans to storm the world with made in Nigeria electric cars through her renewable energy drive. The Chief Executive Officer of the company, Mr. Femi Oye disclosed this at the fourth anniversary ceremony in Lagos recently.
According to him, “The technology is already here only waiting for some documentation. CCN is pioneering electric cars in Nigeria, starting with our tricycle cars to advanced luxury cars. The good thing about it is that they are not imported, they are to be manufactured here.” Read more
How Nigeria can Reclaim its Status as Africa’s Biggest Economy, By Analysts
Based on the data released by the International Monetary Fund (IMF), Nigeria has been displaced by South Africa as the biggest economy in Africa. By the latest development, South Africa has reclaimed the topmost position it lost to Nigeria in 2014, when the later rebased its gross domestic product (GDP), to increase the size of its economy to $510 billion, using 2010 as the base year to replace 1990 previously used. The GDP is the total value of a country’s goods and services over a period of time. Read more
Minister sets up panel to probe U-23 team list
Sports minister Solomon Dalung has sent a three-man panel to Salvador, Brazil, to investigate allegations of abuse of Personal Identification Cards (accreditation cards) by members of the U-23 national team.
Dalung had received a mail dated August 12 and signed by Lenny Abbey, Head of National Olympic and Paralympic Relations and Services Committee, intimating him of the abuse of the cards by the team. Read more
Rio Olympics: U-23 team beat Denmark, enter s’finals
Team Nigeria captain Mikel Obi scored a goal and set up Aminu Umar as Nigeria’s U-23 national team on Saturday night defeated Denmark 2-0 in Salvador to reach the semi-finals of the men’s football event of the Rio 2016 Olympic Games.
Nigeria will now play Germany, who defeated Portugal 4-0, in the semi-final on Wednesday in Sao Paulo. Read more
IMPRESSIVE MUSA starts Premiership on losing note
NIGERIA international, Ahmed Musa, was on the losing side as the Premier League got off to a thrilling start on Saturday with defending champions, Leicester City, taking on newly promoted Hull City.
Musa, who played all 90 minutes at the KC Stadium, was one of the stand-out performers in the season-opener but his effort was unable to save Leicester from going down to an opening day defeat as Hull City claimed a 2-1 victory. Read more
D’Tigers: Why we lost
D’TIGERS player, Chamberlain Oguchi, has said lack of focus in Rio have cost them the three successive defeats so far in the on-going men’s basketball event at the Rio 2016 Olympic Games.
D’Tigers are struggling to get good results following defeats to Argentina, Lithuania and Spain. Read more
SUPER SUNDAY: Arsenal host Liverpool in star match
ARSENAL take on a Liverpool side feeling the benefit of a full pre-season with Jurgen Klopp in their opening 2016/17 Premier League fixture
For weeks, if not months, anxious Gooners have called on Arsene Wenger and the boardroom to spend some of their considerable cash reserves. Many want an upgrade on Olivier Giroud up front, as well as a reaction to the injury crisis in defence. Yet for now, little else except rumours have materialised. That means Arsenal enter the Premier League opening weekend with their fourth and fifth choices at centre-back. This is a weakness Sunday’s visitors, Liverpool, look well-suited to exploit. Read more
Fidel Castro appears at 90th birthday event
The former Cuban leader Fidel Castro has made a rare public appearance at an event to mark his 90th birthday.
He appeared at a gala in Havana’s Karl Marx Theatre with his brother, President Raul Castro, and Cuba’s ally, Venezuelan President Nicolas Maduro. Read more
Muslim cleric and associate shot to death on New York street
A Muslim cleric and an associate were fatally shot by a lone gunman on Saturday while walking together following afternoon prayers at a mosque in the New York City borough of Queens, authorities said.
The gunman approached the men from behind and shot both in the head at close range at about 1:50 p.m. EDT on a blistering hot afternoon in the Ozone Park neighborhood, police said in a statement, adding that no arrests had been made. Read more
EU anti-terror police tracking extremists at refugee camps
Anti-terror experts from European police agency Europol will travel to Greece in an effort to track would-be extremists among the migrants stuck in the country’s camps, a Greek police source said Saturday.
The team is expected to arrive in mainland Greece by the end of the month, the source said. Read more
Trump promises ‘big play’ to crack Nutmeg State
Connecticut has not voted for a Republican in a presidential election since 1988, when it went for George Bush senior, but Mr Trump was undeterred.
“I’m making a big play for Connecticut. Normally the party wouldn’t make a play,” he told the crowd in a sweltering gym in Fairfield. “I love Connecticut. I have lived in Connecticut. I have so many friends in Connecticut.” Read more