News
PDP Labelled Me Disloyal For Refusing To Share Money – Osunbor
Former governor of Edo, Prof. Oserheimen Osunbor, said he was declared disloyal by Peoples Democratic Party over his refusing to share the state’s resources to party leaders.
Osunbor, who defected to the All Progressives Congress at the 2015 general elections, disclosed this at APC’s campaign rally in Iruekpen, Esan West Local Government Area, for the September 10 governorship election in the state.
He described the PDP as an “evil party”, whose interest was not for the development of the state, but to share the resources among party leaders. Punch
Minimum Wage Laughable, Can’t Buy Bag of Rice – NLC
The Nigeria Labour Congress (NLC), Anambra state chapter, has condemned the depreciating condition of Nigeria’s economy and the hardship of the working class in particular, even as it said on Tuesday that it was regrettable that the national minimum wage could no longer meet the basic needs of the average man. It cited the example of the minimum wage not being enough to purchase a 50-kilogramme bag of rice as an example of the ridiculously low wages Nigerian workers earn.
Mr. Jerry Nnubia, chairman of the chapter, stated this during a rally in solidarity with some Nasarawa State workers who were allegedly killed by the police while protesting against the state government’s deductions from their wages by the state government on July 29, 2016.
Nnubia said it was wicked for government to whittle down workers’ pay at this time of economic hardship and sky-high inflation: “We are here today to show solidarity with our members in Nasarawa State who were killed and injured by overzealous policemen at the gate of Government House, Nasarawa, for opposing slice in their salary by the state governor, Tanko Al-Makura. Independent
Kerry in Nigeria, Warns Against Military Crackdowns
US Secretary of State John Kerry on Tuesday congratulated Nigeria on its recent military successes against Boko Haram, but warned the country will face a blowback if it “cracks down” on the Islamists with excessive force.
Speaking at a press conference in the northern city of Sokoto, Kerry praised Nigeria for reclaiming swathes of territory from Boko Haram and releasing thousands of hostages over the past year.
Nigeria has made “important progress”, Kerry said. “Nigeria and its neighbours are degrading Boko Haram’s capabilities.” Guardian
Gas Alone Can’t Solve Nigeria’s Electricity Problem- FG
Plans separate tariff for coal-to-power, The Federal Government has declared that gas alone cannot solve the country’s electricity challenges.
Disclosing this at the just concluded 2016 Annual Conference of the National Association of Energy Correspondents in Lagos state, Minister Of Power, Works And Housing, Mr Babatunde Raji Fashola, said that efforts are in place to encourage embedded power adding that work is in progress to revive other sources of power generation, rather than the current dependency on gas-to-power. Vanguard
Boko Haram Leader, Abubakar Shekau Fatally Wounded in Airstrike, Says Nigeria Air Force
The Nigeria Air Force (NAF) has said on Tuesday that Boko Haram leader, Abubakar Shekau was “fatally wounded” during an airstrike, but there was no way to confirm yet another claim of the death of Nigeria’s Islamic extremist leader.
According to a statement signed by army spokesman, Col. Sani Kukasheka Usman, the strikes came in “the most unprecedented” carried out by the Nigerian Air Force while Shekau was praying on Friday, at Taye village near Sambisa Forest.
“Those Boko Haram terrorist commanders confirmed dead include Abubakar Mubi, Malam Nuhu and Malam Hamman, amongst others. While their leader, so-called ‘Abubakar Shekau’, is believed to be fatally wounded on his shoulders. Several other terrorists were also wounded,” Usman said. Independent
Corruption Costs World $2.6bn – Kerry
United States Secretary of State, Mr. John Kerry, on Tuesday said corruption costs the world over $2.6 billion annually.
Kerry made the disclosure in Sokoto at the Sultan’s palace where he delivered a speech entitled:” The importance of resilient communities and religious tolerance in countering violent extremism.”
He said:” This is money that can be used to improve the living standard and provide decent livelihoods for them. The Nation
Ajimobi Approves Creation of 35 LCDAs
Oyo State Governor, Sen Abiola Ajimobi has approved the creation of 35 new Local Council Development Areas (LCDAs), in the state in order to accelerate even development at the grass root.
This follows a motion entitled:”Need to establish Local Council Development Areas (LCDAs), for effective grassroots development”, brought before the house of assembly on June 16, 2016, were the. Lawmakers urged the state government to take proactive measures to establish LCDA’S to ensure that development get to every community in the state.
The Chief of Staff to the Governor, Dr Gbade Ojo who made this known on Tuesday while addressing journalist in Ibadan, said the approval will give more legal teeth to Oyo State Gazette No. 23, Vol 27 of August 13, 2002, which created the 35 LCDA’S but with a nomenclature of Local Government Areas. The Nation
Business News
Workers shut down Lagos Airport over planned concession
For the umpteenth time, aviation workers protested federal government’s planned concession of four major airports in Lagos, Abuja, Kano and Port Harcourt.
The workers comprising the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), National Union of Air Transport Employees (NUATE) and the National Union of Pensioners (NUP) shut that the Murtala Muhammed International Airport (MMIA) on Tuesday.
They were carrying placards with inscriptions such as, “Sirika our airports are not for sale’”; “Airport concessions will lead to national security breaches”; “Airport concession is economic terrorism”; “Our airports cannot be sold in bits”, among others. DailyTrust
No Nonsense CBN Bars Eight Banks From All Forex Transactions for Concealing $2.125bn NNPC Funds
Determined not to tolerate any further breach of extant financial regulations, the Central Bank of Nigeria (CBN) has barred eight banks from all foreign exchange transactions.
The banks, Thisday exclusively gathered this afternoon, were barred for concealing and failing to remit the Nigerian National Petroleum Corporation (NNPC) dollar funds to the federal government’s Treasury Single Account domiciled in the CBN as directed by the Presidency last year.
The banks, whose suspension would remain in force until they remit all the funds to the TSA are United Bank for Africa (UBA) $530m; First Bank of Nigeria (FBN) $469m; Diamond Bank Plc ($287m); Sterling Bank Plc ($269m); Sky Bank Plc ($221m) Keystone Bank ($139); First City Monument Bank (FCMB) $125m; and Heritage Bank ($85m). Thisday
CBN Reads Riot Act on Utilization of ‘Free Funds’
The Central Bank of Nigeria (CBN) Monday stated that it noticed that some authorized dealers in the FX market have continued to buy and sell FX referred to as “free funds” despite the provision of an earlier circular that warned against that.
Against the background, it stressed that dealing on FX without appropriate documentation, which includes “relevant entries, blotters, physical documents and non-disclosure to the regulatory authorities is a breach of extant regulations.”
The apex regulator therefore reiterated that as provided in the laws and regulations governing dealings in FX, authorized dealers “shall not sell foreign exchange without appropriate documentation and disclosure to the regulatory authorities irrespective of the source of such funds.” Thisday
Chinese Company Seeks To Acquire Ajaokuta Steel Company
A Chinese consortium, China Polaris Technologies Co., Ltd, is seeking to acquire the Ajaokuta Steel Company Limited (ASCL) to further boost Nigeria’s diversification drive.
During a courtesy visit to the Minister of State for Solid Minerals Development Hon. Abubakar Bawa Bwari in his office in Abuja, Chief Executive Officer of the company Mr. Zhang Wendong, said the mission of his team’s visit was to indicate the group’s interest in investing in Nigeria’s solid minerals sector.
While indicating the company’s interest to acquire ASCL, Wendong said they had discovered an iron ore site of high quality that can be explored to provide raw materials for the Ajaokuta Company and other steel processing companies in the country. DailyTrust
EFCC, Police Reopen Probe on 2011 Subsidy Scam
The Economic and Financial Crimes Commission (EFCC) has reopened investigations into alleged N10.9 billion subsidy scams in the controversial 2011 subsidy regime.
The commission has already investigated some key officials of the IPMAN Investment Company Limited, a company incorporated by some independent marketers to participate in the importation of refined products into the country in 2011.
The re-opening of the subsidy scandal has further divided the independent marketers – whereas some are uncomfortable with the investigation, others are commending the authorities for revisiting the case. DailyTrust