News
Buhari: My Comments on Chiboks Girls Have Been Politicized
President Muhammadu Buhari has reiterated the preparedness of the federal government to discuss the release of the Chibok girls kidnapped by the Boko Haram terror group since 2014, even as he expressed concern that his comments on the abducted schoolgirls have been politicized.
The News Agency of Nigeria (NAN) quoted the president as saying in an interview with journalists in Nairobi, Kenya, at the weekend, that government was ready to dialogue with bona fide leaders of the terror group who know the whereabouts of the girls.
He also encouraged the sect to choose a recognized non-governmental organization (NGO) to act as an intermediary for the release of the girls, adding that Boko Haram could begin negotiations on a prisoner swap if it could provide evidence to the NGO that they had the girls. Thisday
Falae Links Jonathan to N100m Election Funds Scam …Tenders Email To EfFCC As Evidence
A former Secretary to the Government of the Federation, Chief Olu Falae, has submitted to the Economic and Financial Crimes Commission an email correspondence between him and a former Chairman of the Peoples Democratic Party’s Board of Trustees, Chief Tony Anenih.
Falae tendered the email as an evidence in the probe linking him to N100m election funds
It was learnt that Anenih, in the email, mentioned that he was acting on the instruction of former President Goodluck Jonathan. Punch
Oshiomhole Spent 65% of Capital Budget in His Village — Ize-Iyamu
The flagbearer of the Peoples Democratic Party (PDP), for the September 10 elections in Edo, Pastor Osagie Ize-Iyamu, has urged voters to reject the APC for the clannish and discriminatory actions of the outgoing government which he said is manifested in the rot in the infrastructure in the birthplace of the first civilian governor of the state, Prof. Ambrose Alli.
Flaying the APC as a party with a poor record for keeping faith with the people, Ize-Iyamu noted that the Adams Oshiomhole administration had spent 65% of its capital vote in the governor’s village of Iyanmoh, a village he claimed currently has 39 tarred roads with some local governments begging for one. Vanguard
Budget Padding: Jibrin Should Undergo Psychiatric Tests –Reps
Leaders of the House of Representatives said on Sunday that psychiatric tests should be conducted on its former Chairman, Committee on Appropriation, Mr. Abdulmumin Jibrin, to ascertain whether he was not facing health challenges.
The leaders, whom The PUNCH learnt were taken aback by Jibrin’s latest allegations that they pocketed “illegal” N10bn as office allowances between 2003 and this year, had also said his sudden change of focus from budget-padding allegations to the allowances of members, might be proof that he needed medical attention.
Jibrin, an All Progressives Congress lawmaker from Kano State, had on Friday last week, alleged that the 10 principal officers of the House had “embezzled” over N10bn allocated as “running costs” between 2003 and this year. Punch
N’Delta Avengers: We’ve Not Nominated Anyone Including Soyinka to Negotiate on Our Behalf
Niger Delta Avengers (NDA) at the weekend said it did not nominate any personality, including Nobel Laureate, Professor Wole Soyinka, to lead its dialogue team with the federal government.
It described the report that it had put forward Soyinka as the head of its contact to dialogue with the federal government as a lie of the century.
According to a statement signed by its spokesperson, Mudoch Agbinibo, NDA said it was amazed that Soyinka has been taking on the jugular by enemies of the region because of his restructuring stance and need to heed the Niger Delta agitations positively. Thisday
Ambode Gives Contractor December Deadline On Road Projects
Lagos State Governor Akinwunmi Ambode has ordered contractors working on multi-faceted expansion projects at the ever busy Berger Bus Stop on Lagos-Ibadan Expressway to work day and night to ensure completion by December.
He spoke at the weekend when he carried out extensive inspection of on-going projects across the state.
The governor said the directive became imperative in view of the strategic importance of the axis being the major gateway to the state.The Nation
IYC, Others Knock Buhari for Threatening Militants
Some Niger Delta groups including the Ijaw Youth Congress and the youth wing of the Urhobo Progress Union (Ighelle r’ Urhobo), have faulted the statement credited to President Muhammadu Buhari that he would treat militants like the Boko Haram sect if they failed to embrace dialogue.
The National President of Ighelle r’Urhobo, Mr. Ovie Igho, who spoke with one of our correspondents on Sunday in Warri, described the statement as anti-peace, adding that it could jeopardise the peace process being championed by the leaders in the region.
A statement credited to the Senior Special Assistant to the President on Media Affairs, Mr. Garba Shehu, in Nairobi, Kenya, quoted Buhari while discussing with the Japanese leader as saying that he would treat Niger Delta agitators the same way he dealt with Boko Haram if they failed to negotiate.Punch
PDP Crisis: BoT Set for Stormy Meeting Today
The Board of Trustees of the Peoples Democratic Party has called an emergency meeting where the crisis rocking the party will be discussed.
It was gathered that the meeting might be stormy and that far-reaching decisions might be taken on how to reposition the troubled party.
The meeting, which holds in Abuja on Monday (today), is to be presided over by the Chairman of the Board, Senator Walid Jibrin. Punch
Ten Die In Ibadan Auto Crash
Ten people have been confirmed dead while nine others sustained injuries in a motor accident that occurred along Ibadan-Oyo Road on Saturday evening.
Eyewitness said the accident, which happened at Itose village along the road, involved a Toyota Hiace commuter bus with number plate LSD 191 XK that was travelling from Sango-Ota in Ogun State to Ilorin, Kwara State.
The eyewitness said the driver of the bus lost control as he was making an attempt to maneuver his way after suddenly running into a pothole in the middle of the road. Punch
Business News
Nigeria’ll be Top Investment Hub By 2019, Buhari says
President Muhammadu Buhari has assured the global community that Nigeria will be one of the most attractive and easiest places of doing business in the world by 2019.
Buhari spoke in Nairobi, Kenya, yesterday, during a plenary session on “Dialogue with the Private Sector” at the sixth Tokyo International Conference for African Development (TICAD).
The session was attended by several African leaders, Japanese Prime Minister Shinzo Abe and international business executives. DailyTrust
Naira Falls Further To 414/Dollar
The naira fell to a new low of 414 against the United States dollar on Sunday amid the continued scarcity of foreign exchange in the country, with economic experts predicting further pressure in the forex market this week.
The development came five days after the Central Bank of Nigeria had banned nine commercial banks from the forex market for failing to remit the Nigerian National Petroleum Corporation’s $2.334bn into the Treasury Single Account in line with President Muhammadu Buhari’s directive last September.
The naira was sold for 414/dollar across some black market segments in Lagos and Abuja on Sunday. It hit an all-time low of 412 against the greenback at the parallel market on Friday, after closing at 409/dollar on Thursday.Punch
N5b Capital Market Development Fund Coming
The Securities and Exchange Commission (SEC) is planning a N5 billion Capital Market Development Fund (NCMDF) to promote infrastructural development of the capital market.
A source said the regulator would provide the cash to demonstrate its commitment to the special fund.
Earlier, SEC provided N5 billion initial capital for the Nigerian Investor Protection Fund (NIPF). The Nation
Royal Exchange Generates N8.43bn Premium in H1
Royal Exchange Plc, an insurance and financial services group, says it generated a gross premium of N8.43bn in the first half of 2016, representing an increase of 34 per cent over the figure of 2015 which stood at N6.28bn.
The firm’s gross premium income also witnessed a growth of 17 per cent over the 2015 figures, with the 2016 figure standing at N6.46bn, more than the N5.50bn it generated in 2015, its report has shown.
The net premium income was N4.34bn, showing a growth of five per cent over that of 2015. DailyTrust
PIB: NNPC Concerned over Move by Petroleum Ministry to Assume Control of Proposed IJVs
The attempt by the Ministry of Petroleum Resources to assume control over the proposed Incorporated Joint Ventures (IJVs) and the Asset Management Company to be created by the new Petroleum Industry Bill (PIB) may set the ministry on a collision course with the Nigerian National Petroleum Corporation (NNPC), THISDAY investigations have revealed.
The original PIB submitted to the National Assembly by the Umaru Musa Yar’Adua administration had provided for the corporatization of the oil joint venture (JVs) assets held by NNPC and the international oil companies (IOCs) into IJVs.
But the IOCs had opposed the establishment of the IJVs following concerns that the NNPC, which controls majority stake in the existing joint venture oil assets, might insist on operating the incorporated entities. Thisday
Again, CBN Meets Bank CEOs Monday, Considers All Options
In bid to ensure financial system stability and integrity, while restoring calm, the Central Bank of Nigeria (CBN) will today meet with the Body of Bank CEOs, following which it will consider the plea by eight bank executives whose institutions were suspended from the foreign exchange (FX) market last Tuesday, to give them more time to return the Nigerian National Petroleum Corporation (NNPC)/Nigerian Liquefied Natural Gas (NLNG) Company dollar deposits held by the affected banks to the Treasury Single Account (TSA) domiciled with the CBN.
Nine banks were initially suspended from participating in the FX market by the CBN last Tuesday for failing to return $2.334 billion belonging to the NNPC/NLNG to the TSA, despite the federal government’s directive since August last year that all government deposits must be remitted to the account by September 15, 2015. Thisday
FAAN Explains Disruption of Int’l Flights At Lagos Airport
THE Federal Airport Authority of Nigeria, FAAN, yesterday said international flight operations were disrupted on Saturday night at the Murtala Muhammed International Airport, Lagos because the K16 transformer serving the international terminal of the airport was badly affected by the sudden power surge when light was restored to the airport.
FAAN said after the outage, the heavy rains delayed the engineers from immediately repairing the affected transformer. Vanguard
Elumelu Harps on Entrepreneurial Skills to Fight Poverty
The Chairman of Heirs Holdings, Mr. Tony Elumelu has advocated entrepreneurship as a veritable solution to achieving poverty reduction in the country.
Elumelu, who is also the Founder of The Tony Elumelu Foundation said this in a paper titled: “Entrepreneurship, Corporate Social Responsibility and Africapitalism: The Role of The Private Sector in Fighting Poverty in Nigeria,” he delivered at the nation’s think-tank, the National Institute of Policy and Strategic Studies in Kuru, Plateau State recently.
There, he addressed a distinguished guest list of 67 participants from top government constituencies including the police, the military, national planning, works, and the presidency, debating ways to move the country forward in light of the present economic challenges. Thisday