News
MEND Writes Buhari, Names Diette-Spiff, Tomplolo, Others in Dialogue Team
The Movement for the Emancipation of the Niger Delta (MEND) on Sunday wrote President Muhammadu Buhari, submitting the final list of its dialogue group, Aaron Team 2.
In the letter signed by its spokesperson, Gomo Jomo, published by Premium Times, the group announced the inclusion of the leader of the Niger Delta Dialogue and Contact Group, Alfred Diette-Spiff, as its deputy team leader.
It also named its former Commander, Government Ekpemupolo, alias Tompolo, as representative of Delta State in the dialogue team.
Other members of Aaron Team 2 include: Odein Ajumogobia, team leader, Florence Ita-Giwa, Ledum Mitee, Adolphus Wabara, Ibanga Isine, Alfred Isename and Timipa Okponikpere. Thisday
EFCC quizzes pilot for flying Fayose’s N1.2bn cash
The Economic and Financial Crimes Commission has quizzed Captain Ahmed Borodo, the pilot whose plane was allegedly chartered by a former Minister of State for Defence, Senator Musiliu Obanikoro, to transport N1.219bn to Governor Ayodele Fayose.
The money was alleged to be part of the N4.7bn transferred from the account of the Office of the National Security Adviser to the bank account of Sylvan McNamara, a company allegedly owned by Obanikoro’s two sons- Babajide and Gbolahan. Punch
Oil Wells: Niger Delta lawmakers insist on 65% ownership
To facilitate development in the Niger Delta region, South-East and South South lawmakers have called on the Federal Government to review the ownership structure of oil wells in the country to allow for 65 per cent ownership by the people of the region.
The lawmakers also condemned the criminal and nefarious activities of herdsmen and called for the establishment of special task force drawn from the various security agencies and Neighborhood Watch in each local government area to checkmate the excesses of herdsmen and prosecute them. Vanguard
Buhari orders IGP to re-open Bola Ige, Dokubo’s cases
President Muhammadu Buhari, yesterday, directed the Acting Inspector-General of Police, Ibrahim Idris, to reopen investigation into the unresolved murder of former Attorney-General of the Federation and Minister of Justice, Chief Bola Ige, and ex-Deputy National Chairman, South-South, of Peoples Democratic Party, PDP, Chief Aminosari Dokubo, and fish out the perpetrators. The killing of the two personalities caused national outrage, with Nigerians calling on the government of former President Olusegun Obasanjo to fish out the killers who have still not been found. Vanguard
$2.1b arms scandal: ‘I collected N100m approved by Jonathan’
Former presidential aide Dr. Doyin Okupe, yesterday admitted collecting more than N100million from the Office of National Security Adviser (ONSA) when Col. Sambo Dasuki (retd.) was in charge.
The former Senior Special Assitant (Media and Publicity) to former President Goodluck Jonathan said part of the cash was a N10milion vote to furnish his rented apartment.
The ex-President approved the release of the funds from his security vote, Okupe said.
He also faulted the Economic and Financial Crimes Commission (EFCC) for making his heart-related challenge, called sinus bradycadia, public. The Nation
Adesina: Buhari doesn’t have to consider federal character in all appointments
Femi Adesina, special adviser to the president on media and publicity, says it is not every time that the President Muhammadu Buhari has to consider federal character while making appointments.
Buhari’s appointments have been generating controversy, with some Nigerians accusing him of favouring the north above other regions.
But speaking when he appeared as a guest on Sunday Politics, a programme on Channels Television, Adesina defended his boss, but said “every other part of the country would be taken care of”.
“There are some (appointments) that are not necessarily subject to federal character,” he said.
He admitted that the appointments are indeed more in some regions, explaining the selection of security chiefs is peculiar because hierarchy has to be followed. The Cable
How Arase took 24 police vehicles away — Acting Police IG, Ibrahim Idris
A battle is brewing between the immediate past Inspector General of Police, Solomon Arase, and his successor, Ibrahim Idris, over the claim by Mr. Idris that his former boss went away with 24 police vehicles after he retired from service.
The Punch newspaper quoted Mr Idris as saying at a press conference, Sunday that the 24 vehicles Mr Arase refused to return to the police included two bullet-proof BMW 7 series.
He also reportedly alleged that the deputy Inspector Generals who retired alongside Mr. Arase also left with between seven and eight cars each. Premium Times
Business News
Inflation Predicted to Drop Marginally in June
After an almost unstoppable rise in headline inflation to a record high, the economy may be entering an era of declining rates of inflation, analysts have predicted
For the Financial Derivatives Company Limited, the inflation rate for June 2016 expected to be released today may see the Consumer Price Index (CPI) drop slightly from 15.6 per cent in May, to 15.5 per cent. Thisday
Lagos’ll experience blackout today —TCN
The Transmission Company of Nigeria, Lagos Region, has announced that many parts of the state will experience blackout between 10am and 1pm today (Monday).
According to the TCN, the affected areas are Ikoyi, Victoria Island, Alagbon, Apapa, Ijora, Surulere, Itire, Oshodi, Mushin; the Nigerian Airforce Base, Shogunle, and their environs.
The company said in a statement on Sunday that the disruption of electricity supply to customers in these locations was a result of the need to carry out an urgent maintenance work on the Akangba 132KV transmission substation. Punch
Master plan implementation to address retail investors’ challenges- SEC
The Securities and Exchange Commission (SEC) in reaction to retail investors’ plight said that effective implementation of the capital market ten year master plan would go a long way to addressing major problems in the market. Director General of SEC Nigeria, Mounir Gwarzo said this in Abuja saying “A successful implementation of the 10 year master plan is necessary to attract retail investors to the market, address some of the challenges that Nigeria’s Capital market faced during the global capital market crash that occurred in 2008-2010 and also raise the standard of the market. Vanguard
Membership verification threatens NSE’s ownership change
A simmering disagreement between the council and management of the Nigerian Stock Exchange (NSE) and majority of its members over the accurate list of its members is threatening the implementation of the change in the ownership structure of Nigeria’s only stock exchange.
The NSE started the conversion from a member-owned limited by guarantee to a share-based company limited by liability, which shares can be listed and traded on the stock market, in a process known as demutualisation.
Reliable sources at the weekend confirmed that the a disagreement between NSE management and stockbroking chiefs, who formed the largest group of its members, was at the core of the decision to step down two vital resolutions that would have kick-started the demutualisation four weeks ago. The Nation
Aviation fuel scarcity disrupting our operations, Air Peace tells FG
Air Peace has appealed to the federal government and aviation authorities to urgently intervene in the lingering scarcity of JET-A1 fuel, saying the development has disrupted the operations of airlines in the country.
In a statement signed by Oluwatoyin Olajide, chief operating officer of Air Peace, the airline said despite the airline’s efforts to source aviation fuel for its operations, some of its flight schedules were affected by the scarcity.
Olajide urged the federal government to address the situation to save the operations of airlines from grinding to a halt. The Cable
Nigeria electricity commission rejects court ruling, insist on 45% tariff hike
The Nigerian Electricity Regulatory Commission (NERC) has rejected the order of the Federal High Court, Lagos, declaring the February 1 electricity tariff raise illegal.
Justice Mohammed Idris had on Wednesday ordered the Commission to immediately reverse the decision as the process that led to the new tariff regime did not follow due process.
But, acting chairman of the commission, Anthony Akah, said in Abuja on Friday that although the regulatory agency respected the decision of the court, it was dissatisfied with it. Premium Times
The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.