* Edo election: Oyegun loses in his polling unit * FEC, not govs will decide on sale of assets –FG

* Edo election: Oyegun loses in his polling unit  * FEC, not govs will decide on sale of assets –FG

SABINEWS MORNING NEWS UPDATE FOR SEPTEMBER 29, 2016

 

 

Edo election: Oyegun loses in his polling unit

The National Chairman of the All Progressives Congress, Chief John Odigie-Oyegun, on Wednesday lost to the opposition Peoples Democratic Party in his polling unit in the September 28 governorship election.

Odigie-Oyegun, who registered in Ward 2, Unit 2, in Oredo Local Government Area, voted at about 10:45am. Read more

FEC, not govs will decide on sale of assets –FG

The Minister of Information and Culture, Alhaji Lai Mohammed, says the final decision to sell national assets will be taken by the Federal Executive Council, which essentially comprises the President, the Vice-President and the 36 ministers.

Mohammed said calls by the National Economic Council − which comprises the 36 governors and the Vice-President – for the assets to be sold was of no consequence. Read more

Atiku backs Tinubu, slams Oyegun for Ondo APC primary

A former Vice-President, Alhaji Atiku Abubakar, has faulted the national leadership of the All Progressives Congress for overruling the recommendation of its appeal panel on the Ondo State governorship primary.

The appeal panel had recommended the cancellation of the APC governorship primary in Ondo State, where a Senior Advocate of Nigeria, Mr. Rotimi Akeredolu, emerged the winner. Read more

Lagos resident killed after winning lottery

A 35-year-old man, Ejike Onyejekwe, has been killed in the FESTAC Town area of Lagos State.

PUNCH Metro learnt that the victim, who lived on 21 Road, K Close, FESTAC, was stabbed to death after winning a lot of money from a lottery. Read more

Senate Forgery: Prosecution Stalls Saraki, Others’ Trial

The failure of the Attorney General of the Federation (AGF) and Minister of Justice, Malami Abubakar Malami (SAN), to release the case file of the charge of forgery levelled against Senate President, Dr. Bukola Saraki, his deputy, Ike Ekweremadu and two others to the new prosecutor yesterday stalled the trial at an Abuja High Court.
The charge was filed last June.

Yesterday, the court was informed that the AGF had not released the case file to the newly appointed prosecuting team of Alhaji Aliyu Umar (SAN). Read more

House Moves to Criminalise ‘Baby Factories’

Worried by the incessant discoveries of baby factories and sale of children, the House of Representatives wednesday passed through second reading an amendment that seeks to criminalise the rising scourge.

The bill sponsored by Hon. Enitan Dolapo Badru is named “bill for an act to amend the trafficking in persons (prohibition) law enforcement and Badru noted that the baby factory operation is fast growing into organised crime which must be urgently nipped in the bud as it is already becoming an embarrassment to the nation. Read more

IPOB: N’Assembly, Not Buhari to Determine Biafra Referendum

The Indigenous People of Biafra (IPOB) has tackled President Muhammadu Buhari over his dismissal of the call for a referendum on Biafra’s self determination, saying referendum does not require presidential approval but an enabling law by the National Assembly.

President Buhari had at a media event in New York, USA on September 24, 2016 reportedly asserted that there would be no referendum on Biafra’s independence. Read more

Customs officers shoot four residents while chasing smuggler

There was confusion at Sycamore Junction, Ajara Topa area of Badagry, Lagos State, after some customs officers allegedly opened fire on some residents.

It was learnt that the officers, who were attached to the Federal Operations Unit, were chasing a smuggler who had fled into the community. Read more

Falana Rejects Soludo’s Defence on Allocation of $7bn to 14 Banks

A human rights lawyers, Mr. Femi Falana, wednesday rejected the defence of the former Central Bank of Nigeria (CBN) Governor, Prof. Charles Soludo, on how the apex bank under his leadership removed $7 billion from the country’s foreign reserves and doled out it to 14 commercial banks.

Falana, a Senior Advocate of Nigeria (SAN), demanded whether the commercial banks that benefitted from $7 billion, which the former CBN governor said was deposited in the banks on October 3, 2006. Read more

Shettima Orders Rebuilding of Destroyed Borno Church

Governor Kashim Shettima of Borno State has ordered the rehabilitation of the biggest church in Lassa, in Askira-Uba Local Government Area of the state, destroyed by the Boko Haram insurgents.
The governor who also ordered the reconstruction of the general hospital and public schools burnt in the town by the insurgents, said the unity existing between the two major religions, Christianity and Islam, in the state cannot be brought to the sword by Boko Haram. Read more

PASAN raises the alarm over legislative allowances

Parliamentary Staff Association of Nigeria (PASAN) has urged the state assemblies across the nation to commit to the welfare of their legislative staff, demanding more concessions for the legislative commission.

The National Financial Secretary of the association, Mr. Bitrus Nuhu, who led a national delegation to the Ondo State House of Assembly in Akure recently, lamented that their members are shortchanged of their entitlements. Read more

Aero Contractors Workers Protest AMCON’s Closure of Airline

Hundreds of employees of Aero Contractors Airline wednesday staged a peaceful protest over the closure of the airline by the Asset Management Company of Nigeria (AMCON).

The News Agency of Nigeria (NAN) reported that the protest was organised by the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) and National Union of Air Transport Employees (NUATE). Read more

Akpabio commissions federal road constructed by Wike 

Thousands  of  the people of  Etche and Ikwerre  Local Government Areas of Rivers  State  on Wednesday  celebrated the Igwuruta-Chokocho Federal Road reconstructed  by Rivers State Governor, Nyesom Ezenwo Wike, to create access to the food basket of the state.
Traditional Rulers, elders, clerics, women and youths from the two local government areas thronged the venue  of the commissioning at Chokocho in Etche Local Government Area, singing and dancing over the construction  of  a road that reconnected communities  cut off from each other for 20 years. Read more

Kukah, Soludo, others to grace launch of book on Biafra

Bishop of Sokoto Catholic Diocese, Matthew Kukah and former Central Bank of Nigeria (CBN) Governor, Chukwuma Soludo, are among dignitaries expected at the public presentation of a book, “The Politics of Biafra and the Future of Nigeria” in Abuja.
While Kukah will deliver a keynote address, Soludo will be among the discussants at the even schedule for Shehu Musa Yar’Adua Centre, Abuja. Read more

Amnesty International: Nigeria trying to muzzle dissenting voices

Amnesty International has said that Nigeria is trying to muzzle dissent by arresting and intimidating journalists and protesters.

London-based rights group cites examples of police blocking peaceful protests, reports Associated Press. Read more

Police Arrest Suspected Robbers, Cultists in Ondo

The police in Ondo State said it has arrested nine suspects for allegedly engaging in robbery and cultist activities. Four of the suspects were alleged to have engaged in armed robbers on Erinje Road in Okitipupa Local Government Area of the state.

Similarly, the command also mentioned the arrest of five boys who were alleged to be members of the secret cults in Ifon, the headquarters of Ose Local Government Area. The Police Public Relations Officer (PPRO) for the command, Mr. Femi Joseph, said the robbers were caught during a robbery operation. Read more

2 die, 6 unconscious in hotel haunted by ghosts

Tragedy struck yesterday at a popular brothel in Umuahia, Abia State capital, as invisible beings, suspected to be ghosts, allegedly invaded and attacked occupants, leaving two persons dead and six others unconscious. It was gathered that this is the third time people were dying mysteriously at the brothel.
The brothel, situated at Uyo Street, Umuahia, is  a popular place where girls  who are almost nude,dance to entertain guests and patrons. Read more

Suspected Fulani herdsmen kidnap Catholic priest, shoot 2 others in Anambra

The Catholic Diocese of Nnewi, yesterday alleged that suspected Fulani herdsmen armed with dangerous weapons including guns, attacked and kidnapped the Rector of Tansi Major Seminary, Rev. Fr. Dr. Emmanuel Dim, while two other priests Rev. Frs. Jude Chukwuneke and Jude Ezeokana who were in the same vehicle with him escaped with various degrees of gun shot wounds.

Addressing reporters at the Nnewi Catholic Diocese Media House, located in Assumption Cathedral Nnewi, Director of Communication of the Diocese, Rev. Fr. Hyginus Aghaulor, alleged that the herdsmen called, and demanded for a ransom of N2.5 million. Read more

Nigeria lost N61trn to non-passage of PIB – NEITI

THE Nigerian Extractive Industries Transparency Initiative, yesterday, called on President Muhammadu Buhari to take urgent steps to halt the unending delay in the passage of the Petroleum Industry Bill, PIB, stating that the country has lost $200 billion, about N61.1 trillion, using current official exchange rate, due to the failure to pass an enabling law for the petroleum industry.

NEITI, in its latest Policy Brief, titled: ‘The  Urgency of a New Petroleum Sector Law,’ declared that some of the losses are  projected investments, put at $120 billion  ($15  billion  yearly),  which had been deferred due to regulatory uncertainty. Read more

NNPC can quickly get us out of recession, says Obasanjo

Former President Olusegun Obasanjo has said the Nigerian National Petroleum Corporation can help the country quickly get out of recession.

Obasanjo stated this during a courtesy call on him by the Group Managing Director, NNPC, Dr. Maikanti Baru, in Abeokuta on Wednesday. Read more

Firms to build mini refineries in Nigeria

Evolve Trading & Investment Limited with offices in the United Kingdom and Nigeria has signed a Memorandum of Understanding with Awaritse Nigeria Limited, a local oil servicing company, to build mini refineries with the capacity to process crude oil, produce water and generate electricity.

The partnership, according to a statement, was signed after meetings in London between Awaritse Nigeria team and Evolve Trading and Investments, represented by the Senior Vice President, Mr. George Irvine, and the Strategic Alliance Partner, Mr. Godwin Atsimene Jnr.; Read more

ANEEJ backs probe of $17bn undeclared oil exports

The Africa Network for Environment and Economic Justice has said the plan by the National Assembly to probe the alleged $17bn undeclared crude oil and gas exports is a step in the right direction.

The group said in a statement that it was hopeful that the probe panel would comprise Nigerians of integrity. Read more

Forex scarcity: NNPC remains major fuel importer

Despite the increase in  pump price of premium motor spirit (PMS) or petrol to N145 per litre from N87, the Nigerian National Petroleum Corporation (NNPC) still retains its status as the sole importer of the product, the Executive Secretary, Major Oil Marketers Association of Nigeria (MOMAN), Mr. Obafemi Olawore has said.

He spoke with The Nation on the sideline of the inauguration of four PMS storage tanks at Mosimi depot in Ogun State. Read more

Why non-oil exporters should get cheap credit, by CBN

The high cost of accessing funds for non-oil export businesses remains a challenge that needed to be tackled to grow the economy, Director, Research and Development, Central Bank of Nigeria (CBN), Dr. Uwatt Uwatt  has said.

Speaking at the ongoing seminar for finance correspondents in Abakaliki, Ebonyi State, he said there is need to reduce the cost of loanable funds to non-oil exporters as such would raise production volumes and boost the country’s foreign exchange earnings. Read more

Saudi Arabia Submits to Iran Oil Stance

Saudi Arabia gave the strongest indication yet it is ready to compromise with Iran, potentially paving the way for the first limit on oil production in two years.

However, a deal looks unlikely until OPEC’s next meeting in November, as Iran’s Oil Minister Bijan Namdar Zanganeh said the country’s crude output should reach the pre-sanctions level of around 4 million barrels per day. Read more

FG owes oil firms $8.1bn in cash calls

The Federal Government owes oil companies at least a total of $8.06bn in unpaid cash calls, as the Nigerian National Petroleum Corporation failed to pay $3.06bn in the first seven months of the year.

The nation’s oil and gas production structure is majorly split between Joint Ventures onshore and in shallow water with foreign and local companies and production sharing contracts in deepwater offshore. Read more

PTDF assumes sole training institution for local manpower in oil sector

The Federal Government has barred indiscriminate training programmes for local manpower for the oil and gas sector of the economy.

Speaking recently when he paid a scheduled visit to the Nigeria Content Development and Monitoring Board (NCDMB), in Yenegoa, Bayelsa state, the Minsiter of State for Petroleum Resources, Dr Ibe Kachikwu said going forward, only the Petroleum Technology Development Fund (PTDF) would be given the sole mandate of training Nigerians and local players in the oil and gas industry. Read more

OPEC seals deal to cut oil output by 750,000 bpd

For the first time in eight years, OPEC member countries yesterday unanimously agreed to cut oil output to 32.5 million barrels per day (bpd) from 33.24 bpd, representing 750,000 bpd.
A strong member of the cartel- Saudi Arabi relaxed its stance on arch-rival Iran amid mounting pressure from low oil prices.
Two sources in the OPEC said the group would reduce output to 32.5 million barrels per day from current production of 33.24 million bpd. Read more

Recession: Operators uncomfortable as FG eyes N5.8tn pension fund

Pension operators in the country are increasingly getting uncomfortable with the moves being made by the Federal Government to use part of the N5.8tn Contributory Pension Scheme assets to fund infrastructure development and move the nation out of economic recession.

Operators, who spoke to one of our correspondents, said it was wrong for government officials and senators to accuse the administrators of the CPS of holding on to the fund when the economy was going through a difficult time. Read more

Naira plummets to all-time low of 472/dollar

The naira slumped to a new all-time low of 470 to the dollar on the parallel market on Wednesday, posting its biggest daily decline since the Central Bank of Nigeria adopted a flexible foreign exchange regime.

The local currency stood at 452 to the dollar at the close of trading on Tuesday, down from 445 against the greenback on Monday. Read more

We’re already getting out of recession, says Adeosun

The Minister of Finance, Mrs. Kemi Adeosun, has said that the country is already getting out of economic recession because of the pragmatic approaches the Federal Government is taken to reverse the trend.

She said this on Wednesday while fielding questions from journalists at the end of a two-day National Council of Finance and Economic Development conference held in Abeokuta, Ogun State. Read more

Recession: Operators uncomfortable as FG eyes N5.8tn pension fund

Pension operators in the country are increasingly getting uncomfortable with the moves being made by the Federal Government to use part of the N5.8tn Contributory Pension Scheme assets to fund infrastructure development and move the nation out of economic recession.

Operators, who spoke to one of our correspondents, said it was wrong for government officials and senators to accuse the administrators of the CPS of holding on to the fund when the economy was going through a difficult time. Read more

23 stocks depreciate as market sheds N4bn

the Nigerian Stock Exchange’s market capitalisation fell by N4bn as 23 stocks depreciated at the close of trading on the Exchange’s floor on Wednesday.

The NSE market capitalisation slid to N9.699tn from N9.703tn, while the All-Share Index closed at 28,236.23 basis points from 28,248.86 basis points. Read more

Put recovered funds to economic use, cleric tells Buhari

Looted funds recovered from corrupt political office holders through anti-corruption campaign must be put to productive use in order to move the economy forward, the Catholic Archbishop of Lagos, Adewale Martins, has said.

The cleric also advised the Federal Government to shun nepotism and put relevant experts in appropriate offices to enhance economic growth. Read more

CBN Settles $180m Futures Contract

The Central Bank of Nigeria (CBN) wednesday settled OTC FX futures contracts on the interbank market to the tune of $180 million.

The FMDQ OTC Securities Exchange said the transaction settlement followed the maturity of the “third OTC Futures Contract Notional $180 million of naira/$ of September 28, 2016, settled today on the FMDQ OTC Securities Exchange”. Read more

‘VAS operators add N30 billion to economy’

Activities of Value Added Services (VAS) providers in the telecommunications sub-sector have added about N30 billion to the Nigerian economy within the last few years.

This figure was given by the Executive Vice Chairman, Nigerian Communications Commission (NCC), Prof Umar Danbatta, on Monday in Abuja. Read more

Sports has potential to take Nigeria out of recession, says Dalung

Sports Minister, Solomon Dalung, has said that the sector has the capacity to move Nigeria out of the current recession.

Speaking yesterday while receiving the Chief of Army Staff, Lt. Gen Tukur Buratai, who paid him a courtesy visit accompanied by members of the Central Organising Committee of the 16th Nigerian Army Sports Festival coming up on October 10 to 16, Dalung said sports “remains the only industry that can move Nigeria out of recession. It is only in sports that you can enumerate about five to six benefits that are very key to National development. Read more

Eagles will beat Zambia -NFF

the Nigeria Football Federation has dismissed a report stating that it cannot fly the Super Eagles to Zambia for a World Cup qualifier as “blatant falsehood.”

The NFF officials who reacted on Wednesday via several channels including Twitter said they were dismayed by the report credited to anonymous officials suggesting that the federation could not take the national team to Zambian because of the recession. Read more

I’m coming to fight for Eagles shirt, Agbo declares

New Super Eagles invitee, Uche Agbo has declared that he is not coming into the team as a tourist who would play no role when Nigeria faces Zambia away in a crucial Russia 2018 World Cup qualifier on October 9 in Ndola.
Agbo who was called up in place of injured Germany-based Leon Balogun told africafootball.com yesterday that he would fight to pick a shirt in the team. Read more

Independence Day Golf: IBB Club Renews Rivalry with Achimota

IBB International Golf and Country Club, Abuja will host Ghana’s leading golf club, Achimota Club 1924 of Accra in an international match-play friendly to mark Nigeria’s 56th Independence Day.

The Ghanaian contingent of 50 golfers is expected to arrive in Abuja today ahead of the opening double matches which hold on Friday. The single matches will be played on October 2, after the Independence Cup Tournament on Saturday. Read more

Milik, Mertens star as Napoli outclass Benfica

Arkaduisz Milik struck his third Champions League goal and Dries Mertens hit a brace as Napoli underlined their last 16 credentials with a 4-2 win against Benfica on Wednesday.

Milik, signed as a replacement for Juventus striker Gonzalo Higuain, headed a brace in a 2-1 come-from-behind win at Dinamo Kiev a fortnight ago to hand coach Maurizio Sarri his maiden win in the competition. Read more

32 People Are Missing in China Landslides Following Typhoon Megi

At least 32 people were reported missing Thursday after rain-saturated hillsides collapsed onto villages in southeastern China following a typhoon.

A rescue operation was underway in Sucun village in China’s Zhejiang province, south of the financial hub of Shanghai, after it was hit by a landslide on Wednesday evening, leaving 26 missing, the state-run Xinhua News Agency reported. Read more

South Australia battles second day of storms after blackout

South Australia is enduring a second day of severe weather, after the entire state was left without power overnight.

About 80,000 lightning strikes were recorded, some damaging electricity generation facilities, while destructive winds toppled more than 20 transmission towers. Read more

Ship crew stranded in Sydney as owners caught up in global bankruptcy case

A crew of 14 seafarers has been left stranded on a container ship in Sydney, caught up in US bankruptcy action against a global shipping company.

The crew has been allowed shore leave, unlike crews in the US, who the International Transport Workers’ Federation says are being denied a “human right” to leave the ships. Read more

If Trump wins, it will be because of a mass retreat from reason

Monday night’s US presidential debate should convince a majority of American voters that Hillary Clinton is their only credible choice for the White House. Yet it may well fail to do so, in the new era of ‘post-truth politics’.

The historian Sir Michael Howard suggests that on both sides of the Atlantic, we are witnessing a retreat from reason, an attempt to reverse the onset of the 18th-century Age of the Enlightenment, which banished superstition and religious faith as a basis for reaching conclusions. 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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