News
Why I Visited Buhari – Jonathan
Former President Goodluck Jonathan on Wednesday refused to answer a question on the ongoing anti-corruption war of the present administration which has led to the investigation and prosecution of many of his aides.
During an interview with State House correspondents after he met with President Muhammadu Buhari behind closed doors at the Presidential Villa, Abuja, Jonathan said it would not be appropriate for him to speak on the matter because many of the cases were pending in court.
He however said the meeting which lasted less than 20 minutes afforded him the opportunity of briefing Buhari of his recent international engagements and future ones. Punch
Saudi Disqualifies Three Nigerian Carriers from 2016 Hajj
The National Hajj Commission of Nigeria on Wednesday said that Saudi Arabian aviation authorities disqualified three Nigerian carriers from transporting Nigerian pilgrims for the 2016 Hajj.
Alhaji Mohammadu Goni, Head of Aviation of NAHCON, who made this known at the commission’s Headquarters in Abuja, listed the affected airlines as Dornier Aviation Nigeria AEP Ltd; Top Brass and Azman Air Services.
The Federal Government had approved six airline operators to transport intending pilgrims for the exercise. Punch
Alleged N4.6bn Fraud: Court Remands Fayose’s Ally, Agbele in Kuje Prison
The Federal High Court in Abuja, on Wednesday, remanded an ally to Governor Ayodele Fayose, Mr. Abiodun Agbele, in Prison custody over his alleged complicity in N4.6billion fraud.
Trial Justice Nnamdi Dimgba remanded Agbele at Kuje Prison after he was docked by the Economic and Financial Crimes Commission, EFCC, on an 11-count criminal charge.
The anti-graft agency alleged that the defendant had between April 4 and November 13, 2014, connived with the then Minister of Defence for State, Musliu Obanikoro, Lt. A.O Adewale, Tunde Oshinowo and Olalekan Ogunseye to launder over N4.6bn from office of the National Security Adviser, NSA. Vanguard
We’ll flush vandals out of Lagos – Ambode
Governor Akinwunmi Ambode with Acting Inspector General of Police, Mr. Idris Kpotun Ibrahim during the I.G’s visit to the Governor on 3 August, 2016.
Governor Akinwunmi Ambode of Lagos State on Wednesday vowed that the State Government would deploy its entire arsenal to ensure that militants and vandals threatening the peace are flushed out of the State.
The Governor who spoke when he received the Acting Inspector General of Police, Mr. Idris Kpotun Ibrahim in Lagos, said the recent military onslaught in the areas where such criminal elements have been hibernating was yielding positive result, assuring that all efforts would be made to sustain the success recorded so far. Punch
Shiites Protest in Kaduna, Demand El-Zakzaky’s Release
Members of the Islamic Movement in Nigeria, otherwise known as Shiites, on Wednesday in Kaduna, defied police order to protest the continued detention of their leader, Sheikh Ibrahim El-Zakzaky, and other members.
Children, between the ages of 10 and above with some adults, marched through Muhammadu Buhari Way in the Kaduna metropolis.
They displayed posters of Sheikh Ibrahim El-Zakzaky and chanted continuously, “free our leader;” “please free El-Zakzaky,” “we want justice:” “He needs to go for medical treatment.” Punch
Okonjo-Iweala Begged Me Not To Say Nigeria Was Broke –Amaechi
The Minister of Transportation, Rotimi Amaechi, has said a former Coordinating Minister of the Economy, Ngozi Okonjo-Iweala, pleaded with him not to tell Nigerians that the country was broke.
Amaechi, who said the country went into recession under the administration of former President Goodluck Jonathan, added that the previous administration covered up with the excuse that the country was cash-strapped. Punch
Sokoto Seeks FG’s Help to Generate Electricity from Wind
Sokoto government has appealed to the Federal Government to deploy resources and expertise to the state in bid to develop wind-powered electricity and other alternative sources of energy.
Speaking when he hosted officials from the Federal Ministry of Science and Technology as well as the Centre for Energy Research and Training, Governor Aminu Waziri Tambuwal said Nigeria’s desire to have sustainable and affordable electricity cannot be achieved without diversification of the country’s energy sources. Thisday
ISIL Names New Boko Haram Leader
Militant group, Islamic State of Syria and the Lavent, ISIL, has named a new leader for its West African affiliate, Boko Haram, the BBC is reporting.
According to the report, ISIL announced Abu Musa Albarnawi as Boko Haram leader in its new magazine without saying anything about the group’s known leader, Abubakar Shekau.
Shekau recently released a video in which he assured his followers that he was well and alive. Daily Trust
Emirates Flight Catches Fire after Emergency Landing in Dubai
An Emirates flight en route from India appeared to catch fire while making an emergency landing at Dubai International airport on Wednesday, according to CNN.
“We can confirm flight EK521 from Thiruvananthapuram to Dubai has been involved in an accident at Dubai International,” the airline posted on their official Twitter account.
“There were 275 passengers and crew on board. Our main priority now is the safety and well-being of all involved,” the post added.
Business News
Banana, Plantain Can Boost Nigerian Economy – NBPAN Boss
The Chairman, National Banana and Plantain Growers, Processors and Marketers Association of Nigeria in Abia State, Engr. Dr. Okezie Abarikwu, has said banana and plantain, if planted in commercial quantity and exported, would revive the economy.
Abarikwu spoke in Umuahia, the Abia State capital. He said that if given the necessary attention, banana and plantain business can serve as a veritable measure for diversification of the nation’s economy. Punch
Prolonged Forex Shortage Bites Harder
Contrary to the expectation in some quarters, the Central Bank of Nigeria’s (CBN) decision to float the naira may not ease the shortage of dollars in the system, foreign exchange dealers have said.
They told Independent in separate chats that the naira would continue to weaken on limited dollar supply, as foreign investors would not return until the economy shows signs of recovering from the impact of currency controls.
After ignoring calls for over a year by foreign investors and agencies such as the International Monetary Fund (IMF) that it should devalue the naira, the apex bank, had on June 20, begun the implementation of a flexible exchange rate policy which saw the naira falling by over 40 per cent from N199 to N280 to the dollar. Independent
FEC Approves Construction of Bigger Port in Badagry
The Federal Government has approved the construction of a bigger seaport in Badagry, in Lagos State.
Minister for Information, Lai Mohammed, who disclosed this at the end of the Federal Executive Council meeting held in Abuja, said the project would be built by the private sector.
Minister for Power, Housing and Works, Babatunde Fashola, who also spoke, thanked President Muhammadu Buhari on behalf of the government and people of Lagos State for the approval. Thisday
Skye Bank Incurs N40bn Loss on N35bn Impairment Charges
As part of efforts to reposition the bank and record better future performance, Skye Bank Plc has made a total provision of N34.681 billion for impairment charges for the year ended December 31, 2015. Although the bank ended the year with higher interest income of N127 billion in 2015, up from N107 billion in 2014, the impairment charges made the bank to record a loss of N40.726 billion compared with a profit of N18.717 billion in 2014.
While N27.53 billion impairment charges were for loans, N7.145 billion was provided for as impairment charges for other financial assets.
The bank’s huge exposure to the oil gas, energy and other sectors of the economy affected its loan performance, a development that made the Central Bank of Nigeria (CBN) to intervene in the bank last month. Thisday
Ikeja Electric Offers To Slash Customers’ Debts By 20%
Ikeja Electric Plc, one of the electricity distribution companies in the country, has said it is ready to cut customers’ unpaid bills by 10 per cent to 20 per cent depending on the amount owed the firm.
The company on Wednesday said it introduced the debt discount initiative to enable customers to pay off their outstanding bills and meet their financial obligations to the company.
It said the initiative, designed specifically for unmetered non-maximum demand customers, was put in place to provide an avenue to support customers especially those who are financially constrained by the present economic realities. Punch
AON Denies Government Funding of Airlines
The Airline Operators of Nigeria (AON) has debunked reports that government has been funding Nigerian airlines, insisting that domestic airlines in the country did not get any form of funding from the government in the past 30 years when the deregulation of the industry was introduced in 1983.
The operators said this is contrary to widely held beliefs, opinions and publications in the media in recent past that they were given an intervention fund by the federal government. Thisday
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