News
Appeal Court Upholds David Mark’s Election
…..former Senate President forgives those who conspired against me.
Immediate Past President of the Senate Senator David Mark has for the umpteenth time affirmed that he has forgiven his opponent Daniel Onjeh and all those who conspired against him during the February 20, 2016 rerun election for Benue South Senatorial district of the state. Vanguard
Angry Berates DSS for Flouting His Order
Justice Nnamdi Dimgba of the Federal High Court, Abuja, on Friday berated the Department of State Security (DSS) for flouting an order of the court to remand a defendant in prison.
Mr. Dimgba had ordered that a retired Air Commodore, Umar Mohammed, who was arraigned before him on Thursday, be remanded in Kuje Prison pending the hearing of his bail application.
But the SSS failed to produce him in court on Friday while his counsel argued his bail application. Independent
You Aren’t In Talks With Militants, IYC Tells Buhari
An Ijaw youth group, the Ijaw Youth Council (IYC) has said that President Muhammadu Buhari was deceiving Nigerians and the international community about being in talks with Niger Delta militants.
Buhari had on Thursday said his government was negotiating with Niger Delta militants through International Oil Companies and law enforcement agencies,when he spoke during a farewell audience with Michael Zinner, outgoing German Ambassador to Nigeria.
Reacting to the position of Buhari, IYC’s spokesman, Eric Omare, said it was ridiculous and laughable for the President to claim the government was in talk with the militants through the IOCs. Independent
A ‘Court Gives Nod to Muslim Students to Wear Hijab in Lagos Schools
A special constituted panel of the Court of Appeal sitting in Lagos on thursday gave approval to Muslim students to wear the hijab (veil for women) with their school uniforms.
In a unanimous decision, the court set aside the judgment of a Lagos High Court which banned students in public primary and secondary schools in the state from putting on the hijab with their school uniforms. Thisday
FG Opposes Electricity Tariff Reversal, Backs NERC.
The Federal Government on Thursday opposed the court ruling that mandated it and the Nigerian Electricity Regulatory Commission to reverse the 45 per cent increase in power tariffs payable by consumers across the country.
It also commended NERC for appealing the judgement, describing the ruling as a setback that posed a challenge, which had prompted misunderstanding in the sector. Punch
Benue Assembly Suspends Member Over Plot To Impeach Speaker
The crisis rocking the Benue State House of Assembly, yesterday, deepened when a member of the People’s Democratic Party (PDP), Kester Kyenge, was suspended for five months.
The House, Tuesday, witnessed a rowdy session following the speaker’s refusal to allow the purportedly suspended member, representing Logo State Constituency, to move a motion of urgent public importance. Daily Trust
Abduction: Lagos Monarch’s Kidnappers Demand N500M Ransom
The family of the abducted monarch of Iba town, Ojo Local Government Area, Lagos, Yushau Oseni, say the kidnappers have contacted them demanding N500 million as ransom for his release.
One of the king’s daughters and former Chairperson, Iba Local Government Council, Mrs Ramota Oseni, said the abductors had contacted the family since July 20. Leadership
Business News
CBN to Fund $697M Forward Contracts Friday, Naira Pressure to Ease
The Central Bank of Nigeria (CBN) will today fund the one-month forward contracts of $697 million on the interbank FX market, effectively improving dollar liquidity in the market, as the accounts of customers that hedged against the dollar through their banks last month will get their accounts credited.
Sources in the CBN confirmed that there would be improved availability of dollars today, thus easing pressure on the naira which fell to its lowest level yesterday since the guidelines were revised last month for trading on the interbank FX market. The naira closed at N310.43 to a dollar yesterday, compared to N294.24 to a dollar from the day before. Thisday
Minister Seeks Collaboration with Iran On Power, Agriculture
Hajiya Aisha Abubakar, the Minister of State for Industry, Trade and Investment, has called on the Embassy of Islamic Republic of Iran to invest in power and agriculture sectors.
Abubakar made the call when Mr Morteza Zarchi, the Ambassador of Iran in Nigeria, paid her a courtesy visit in Abuja on Friday. Leadership
NAFDAC Impounds N15m Aphrodisiac Drugs
The National Agency for Food and Drugs Administration and Control impounded unregistered drugs worth N15 million in Gembu, Taraba State.
The impounded drugs included Tramadol and Sildenafil combination.
Mr Joseph Asikpo, the state Coordinator of the agency, made this known at a media briefing in Jalingo on Friday. Guadian
Agric Minister, Audu Ogbe Sued Over N25bn Egg Production Contract
A civil rights group, Centre for Social Justice, has dragged the Minister of Agricultural and Rural Development, Chief Audu Ogbe before the Federal High Court in Abuja over N25billion egg production contract he awarded to a firm.
The group, in the suit marked FCH/ABJ/CS/ 520 /2016, is seeking leave of the court to apply for an order of mandamus compelling the Minister to release details and copy of the N25bn contract he signed with Tuns Farms Nigeria Limited. Vanguard
Militancy: 700,000 Barrels Of Crude Oil Lost Daily — NNPC
The Nigerian National Petroleum Corporation, NNPC, yesterday, lamented that the rising cases of militancy, pipeline vandalism, theft and sabotage of oil and gas assets has led to the curtailment of about 700,000 barrels per day (BPD) of crude oil.
In his presentation during a visit to the Chief of Defence Staff in Abuja, Group Managing Director of the NNPC, Mr. Maikanti Baru, also warned of dire financial consequences for the country as a result of the low crude oil output, while he stated that the country lost N51.28 billion to pipeline vandalism and product theft in 2015. Vanguard
ACA To Host 10th Cashew Festival
The African Cashew Alliance (ACA) has concluded arrangement to host its 10th Annual World Cashew Festival and Expo beginning from September 19 to 22, in Bissau, Guinea-Bissau, with the theme, ‘A decade of transformation.’
The conference, which is consistently the world largest cashew event will bring together a diverse array of cashew industry stakeholders from across the globe.
According to the Managing Director of ACA, Babafemi Oyewole, this year’s conference is unique because it marks the 10th anniversary of the Africa Cashew Alliance (ACA), and the journey of ACA started in Guinea Bissau. Independence
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.