News
“Buhari on rescue mission” – Lai Mohammed
Nigeria’s information and culture minister Lai Mohammed has said President Muhammadu Buhari was on a “rescue mission’’ and government would not be deterred from achieving the mission.
He was reacting to the call by the opposition People’s Democratic Party (PDP) for the Buhari to resign because of inability to manage the economy.
The party had also asked the President to return the economy back to the situation it was before May 29, 2015 when Buhari took over. DailyTrust
UPDATED: Companies plead guilty to laundering “Patience Jonathan’s $15m”
The four companies charged with money laundering, alongside a former Special Adviser on Domestic Affairs to ex-President Goodluck Jonathan, Waripamo-Owei Dudafa, have pleaded guilty to the offence.
The four companies pleaded guilty to conspiring with Dudafa; a lawyer, Amajuoyi Briggs; and a banker, Adedamola Bolodeoku, to launder a sum of $15,591,700 on or about November 13, 2013.
The Economic and Financial Crimes Commission, while arraigning the seven accused before a Federal High Court in Lagos on Thursday, told the court that the $15.6m was proceeds of theft. Punch
Group wants Patience Jonathan quizzed by EFCC over $31.4m deposit
The Resource Centre for Human Rights and Civic Education (CHRICED) has urged the Economic and Financial Crimes Commission (EFCC) to invite a former first lady, Mrs. Patience Jonathan for questioning over the unexplained $31.4million traced to her company accounts.
The Executive Director of the organization Dr. Ibrahim Zikirullahi said in a statement on Thursday that it is disturbing that in spite of the weight of the indictment against her, Mrs. Jonathan has continued to grandstand and also trying to use the judicial process to arm-twist the EFCC and frustrate its ongoing investigation.
“Without prejudice to the right of the indicted person to seek redress through the judiciary, we call on the EFCC not to roll over and allow corruption have a field day. CHRICED is not unmindful of the fact that by her court action, the former first lady is merely trying to use the judiciary to stop the EFCC from arresting and investigating her. DailyTrust
We‘re working for success of Edo rescheduled election – INEC
The Independent National Electoral Commission (INEC) has said that it had continued with arrangements to ensure the success of the governorship election in Edo rescheduled for Sept. 28.
Deputy Director of Voter Education and Publicity in the commission, Mr Nick Dazang, stated this in an interview with reporters on Thursday in Abuja.
Dazang said that the commission had started looking at areas that needed to be reinforced in order to have a credible election in the state. Vanguard
Edo APGA expels spokesman, others
Edo State chapter of the All Progressives Grand Alliance (APGA) has expelled the Publicity Secretary of the party, Chief Paul Okolie and other members over alleged anti- party activities.
APGA said its candidate for the September 28 rescheduled governorship poll in the state, Mr. Osaro Onaiwu, is the solution to Edo people’s problem.
Okolie had led hundreds of APGA members to defect to the All Progressives Congress (APC) to support the candidacy of Godwin Obaseki. The Nation
Business News
Nigeria raises 183bn Naira in short-dated treasury bills
Nigeria sold 183.24 billion Naira worth in treasury bills at an auction on Wednesday, with mixed yields on all the tenors, data from Debt Management Office showed on Thursday.
The debt office raised 48.10 billion Naira of three-month paper at 14 percent, down from 14.38 percent at Aug. 31, auction which sold 48.45 billion worth of the 6-month paper at 17.77 percent, higher than 17.50 percent previously.DailyTrust
FirstNation shifts resumption of operations
FirstNation Airways has postponed resumption of its flight operations, earlier scheduled for Thursday.
Officials at the airline’s ticket stand at the Murtala Muhammed Airport 2, Lagos, said operations might now commence on Saturday.
FirstNation suspended operations on August 17, attributing the development to the need for the aircraft in its fleet to undergo engine maintenance.The Cable
Exxon has pipeline ready for Nigeria Qua Iboe crude export
ExxonMobil has a pipeline prepared to export Nigeria’s Qua Iboe crude oil, with the first cargo expected to load as early as the end of September, trading sources said on Thursday.
The export stream, Nigeria’s largest, has been under force majeure since July after a leak on the 48-inch pipeline that carries it to the export terminal.
While Exxon offered an October-loading cargo earlier this week, sources now said that a pipeline is operational and that state oil company NNPC is in the process of allocating more cargoes. Other companies, including Vitol and Oando, were also offering October-loading cargoes, with a total of four now on offer. DailyTrust
EFCC quizzes Zinox Computers boss, 4 others over alleged N170 million contract fraud
The Economic and Financial Crimes Commission (EFCC) has questioned the chairman and owner of Zinox Technologies Limited, Leonard Stanley Ekeh, and two other officials of the company over a shocking N170 million contract fraud allegation.
The Zinox boss is accused of conspiring with the other officials to hijack and illegally execute the contract awarded by the Federal Inland Revenue Service (FIRS) to an Ibadan-based IT firm. PremiumTimes
News
Resign now, PDP tells Buhari
The Peoples Democratic Party has called on President Muhammadu Buhari to leave office immediately.
But before quitting, the former ruling party asked the President to return the country to how he met it when he assumed office on May 29, 2015.
The spokesperson and a member of the party’s National Caretaker Committee, Prince Dayo Adeyeye, said this in a statement he signed in Abuja on Wednesday. Punch
$15m: SERAP gives AGF ultimatum to prosecute Mrs. Jonathan
Socio-Economic Rights and Accountability Project (SERAP) has given the Attorney-General of the Federation, (AGF) and Minister of Justice, Mr. Abubakar Malami (SAN), a 7-day ultimatum to begin the prosecution of the former first lady, Mrs. Patience Jonathan over allegation of $15m unexplained wealth “frozen in four companies’ accounts.”
Patience Jonathan In a statement by SERAP executive director, Mr Tokunbo Mumuni made available to Vanguard, the body urged the AGF to institute criminal proceedings against Mrs. Jonathan in line with “public interest, and exercise your powers under Section 174(1) of the Constitution of Nigeria 1999.”
Making bold its demand, SERAP asked Malami to “take this step within 7 days of the receipt and/or publication of this letter, failing which SERAP will institute legal proceedings to compel the discharge of constitutional duty in this matter.” Vanguard
EFCC declares ex-governor wanted for alleged N76bn fraud
The Economic and Financial Crimes Commission has declared wanted the immediate past Governor of Katsina State, Mr. Ibrahim Shema, over an alleged N76bn fraud.
It was learnt that the EFCC declared him wanted sequel to allegations levelled against him by his successor, Governor Aminu Masari.
In a gazette signed by the spokesman for the EFCC, Mr. Wilson Uwujaren, the anti-graft agency said Shema had ignored all invitations by the EFCC. Punch
Ex-minister set for grilling over $1.092b Malabu Oil deal cash
Former Petroleum Resources Minister Dan Etete is set to visit the Economic and Financial Crimes Commission (EFCC) to answer questions on the controversial Malabu Oil Block (OPL 245).
The EFCC is searching for $1,092,040 billion paid by Shell Nigeria Exploration and Production Company Nigeria Limited (SNEPCO) and Nigeria Agip Exploration Limited (NAE) into an escrow account.
The anti-graft agency has raised a team to grill the ex-minister and all those implicated in the deal.
Those implicated are six former ministers in the administration of former President Olusegun Obasanjo and ex-President Goodluck Jonathan, a former Permanent Secretary, a former Head of State, a former Senate President, a former National Security Adviser (NSA), some senators, and some serving and former members of the House of Representatives. The Nation
Buhari, ministers, others tackle recession at retreat today
President Muhammadu Buhari will today chair an extra-ordinary retreat in Abuja to seek for ways of pulling the economy out of recession.
Expected at the one-day retreat are Vice President Yemi Osinbajo and members of the Federal Executive Council (FEC) and heads of relevant Ministries, Departments and Agencies (MDAs).
Also expected are private sector facilitators and some economic experts, who have been invited to offer perspectives during the technical sessions.The Nation
BIAFRA: MASSOB replies Buhari, says we’re near the Promised Land
The leadership of the Movement for the Actualization of the Sovereign State of Biafra, MASSOB, has taken a swipe at President Muhammadu Buhari for surreptitiously reminding innocent youth corps members of Igbo extraction, serving in Katsina State, of the sordid experience of their forebears, during the 30-month old war for freedom.
The MASSOB leader, Comrade Uchenna Madu, who made the group’s position known in a press statement, also opined that there was no point singling out Ndigbo, out of the corps members that paid him the Sallah visit.Vanguard
Business News
Unity Bank sacks 215, hires 200 in fresh restructuring
The management of Unity Bank Plc has sacked 215 staff, just as they also engaged additional 200 fresh staff in a fresh restructuring, sources said.
Most of those sacked were branch managers and senior staff, sources close to the Daily Trust have disclosed.
The human capital department of the bank communicated the retrenchment of the affected ex-staff to the individuals, yesterday, advising the sacked workers to hand the bank’s belongings in their possession. DailyTrust
Low turnout as Arik resumes operation
Following its intention to resume work, yesterday, Arik Air experienced low turnout of travelers at the Murtala Muhammed Airport, Ikeja, Lagos.
The airline had, on Tuesday, suspended its activities but recanted by resuming operations yesterday.
In a statement, the airline’s Public Relations Officer, Ola Adebanji said: “Arik Air, West and Central Africa’s largest airline, is pleased to announce that scheduled flights will resume from 11 am, Wednesday September 14, 2016.” Vanguard
Refineries flop after gulping N264 billion
Nigeria has spent N264 billion on maintenance of its four refineries since 1999 when the country returned to democracy, Daily Trust investigation has shown.
But this massive spending has not been able to put the refineries back on production line, analysts say. As a result Nigeria, Africa’s largest oil producer imports most of its petrol for domestic use.
The four refineries located in Port Harcourt (two), Warri and Kaduna have a combined capacity to refine 445,000 barrels of crude per day. DailyTrust
20 stocks record losses as market appreciates by N22bn
Trading on the floor of the Nigerian Stock Exchange closed on a positive note on Wednesday, after the two-day public holiday declared by the Federal Government.
The stock market appreciated by N22bn despite losses in 20 stocks.
The NSE market capitalization rose to N9.495tn from N9.473tn recorded last Friday, while the All-Share Index closed at 27,642.13 basis points from 27,577.52 basis points. Punch
PMGMAN lauds govt intervention on CBN forex sales policy
Chief Executives of top Pharmaceutical Manufacturing Companies under the auspices of PMG-MAN recently met to review the new directive of the CBN on Forex sales to end users. The APEX bank’s decision to ensure that at least 60 per cent of Forex sales are made to local manufacturers was acclaimed as a timely intervention to boost local manufacturing.
Since local pharmaceutical manufacturing is directly linked to national healthcare, a strong argument was also presented for the immediate prioritization of the Pharma sector, in order to maintain National health and ensure the sanctity of human lives.
PMG-MAN Chairman, Mr Okey Akpa, disclosed that other key policies that needed pressing reforms in order to rescue the local Pharma industry and in turn safeguard National healthcare include the ECOWAS CET (Common External Tariff) policy.Vanguard