Monday, 31 August 2015

Bailout: CBN Injects N338bn in 27 States to Stimulate Economy-Obinna Chima



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Godwin Emefiele

• Kwara, Osun, Zamfara commence payment of salary arrears, 24 other states to follow


In line with the federal government’s resolve to reflate economic activities in the country, the Central Bank of Nigeria (CBN) will this week continue the disbursement of its special intervention fund totalling N338 billion to 27 states in the country.

Already, the funds to Kwara, Zamfara and Osun States were disbursed last week and they have commenced the payment of salary arrears to workers in their respective states, THISDAY learnt yesterday.

A source at the central bank confirmed that more states would get their monies this week.
From the breakdown of funds made available to the first three states to which monies were disbursed last week, Kwara State got a total of N4.320 billion from the special intervention fund, Osun got N34.988 billion, while Zamfara was given N10.020 billion.

The loans repayable at an interest rate of nine per cent over a 20-year period, also showed that Abia State is expected to get N14.152 billion, while Adamawa State will receive N2.378 billion; Bauchi – N8.60 billion; Bayelsa – N1.285 billion; Benue – N28.013 billion; Borno – N7.680 billion; and Cross River – N7.856 billion.

In addition, Delta has got the central bank’s approval to receive N10.036 billion; Ebonyi – N4.063 billion; Edo – N3.167 billion; Ekiti – N9.604 billion; Enugu – 4.207 billion; Gombe – N16.459 billion; Imo – N26.806 billion; Katsina – N3.304 billion; Kebbi – N0.690 billion and Kogi – N50.842 billion.

Nasarawa is also expected to get N8.317 billion, while Niger will receive a total of N4.306 billion; Ogun – N20.00 billion; Ondo – N14.686 billion; Oyo – N26.606 billion; Plateau – N5.357 billion and Sokoto will get N10.093 billion.

The source, a senior central bank official, stressed that with the disbursement of the N338 billion to the 27 states that applied for the special intervention fund, economic growth would be stimulated through the payment of outstanding salaries to workers who have been owed for months.

He explained: “Once salaries are paid, we expect consumption to increase nationwide and this will go a long way in stimulating economic activities.

“After disbursing to Kwara, Osun and Zamfara, more states which applied will get their funds this week, and we have ensured that we kept the interest rate low at 9 per cent and loans repayable over a 20-year period.”

As part of the federal government’s resolve to end the lingering crisis of unpaid workers’ salaries in the country, especially in several states of the federation, President Muhammadu Buhari had approved a comprehensive relief package designed to salvage the situation.

Part of the relief package was the CBN's special intervention fund to be offered to states, which would be in the form of soft loans available to states to access solely for the purpose of paying the backlog of salaries.

The approval of the special intervention fund was sequel to the decision by the National Economic Council (NEC) at its meeting of June 29, 2015, that had requested that the CBN, in collaboration with other stakeholders, should appraise and consider ways of liquidating outstanding workers’ salaries owed by state and local governments.

The conditions for accessing the facility included resolutions of the respective state executive councils (SECs) authorising the borrowings and state Houses of Assembly consenting to the loans, as well as issuance of Irrevocable Standing Payment Orders (ISPOs) to ensure timely repayment at source from the states’ Federation Account allocations.

Culled from Thisday

Friday, 28 August 2015

Army Arrests Fake Civilian-JTF Using GOC’s Name To Extort Maiduguri Resident-Kareem Haruna


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A group of fake Civilian-JTF operatives who extort funds from family members of arrested Boko Haram terrorists while dropping the names of top army generals, including the General Officer Commanding 7 Division, Maiduguri has been arrested by the army in Maiduguri, Borno State.
Members of the gang were arrested last week by soldiers after ample information about their illicit operations were reported to the army authorities at the 7 Division.
According to the spokesman of the army at the 7 Division, Colonel Tukur Gusau, three members of the notorious gang were arrested and after thorough investigations confessed to the crime.
He said the army in Maiduguri has arrested “three persons, namely, Alhaji Baba of Gwange area, Abubakar Tijjani Lawal of London Chiki and Umar Ali of Gidan Dambe of Maiduguri who claim to be members of Civilian-JTF using the name of the GOC 7 Division, Nigerian Army, Major General Lamidi Adeosun and other senior officers in the theatre of operations to extort funds from relations and friends of those being investigated by the division for terrorism and related offences”.
Describing such actions as criminal and capable of bringing disrepute to the success being recorded by the joint efforts of the Nigerian Army under Major General Adeosun as well as the Nigerian Air Force in the ongoing Operation Lafiya Dole, Colonel Gusau in his two-page statement called on the public to be wary of such criminals and report suspects to the nearest military base or any security outfit.
Army arrests, parades Boko Haram fuel suppliers
The 7 Division, Nigerian Army in Maiduguri yesterday made another breakthrough in the ongoing military efforts to dislodge Boko Haram terrorists when it arrested a gang of individuals whose job is to ensure that the insurgents do not run out of fuel supply in their bush enclaves, officials said.
The group, which used large improvised tanks secretly constructed under vehicles, has a record of delivering at least 3,000 litres of fuel daily to power the vehicles and generating plants of the Boko Haram insurgents.
At the centre of the crime is one Bashir Ali, whose major preoccupation was coming into the town and ensuring that he filled his secret tanks and other containers which he ferried back to the bushes where he delivered same to the Boko Haram masters.
Colonel Tukur Gusau disclosed that the suspect “was arrested at a filling station in Maiduguri while using a Peugeot 504 vehicle fabricated with extended 500 litres tank capacity. During interrogation, Ali confessed that he used the vehicle to ferry up to 3,000 litres of petroleum products everyday”.

Culled from Leadership

Thursday, 27 August 2015

CBN Fixes Time Limit for Resolution of Customers’ Complaints-By Obinna Chima



2401-CBN.jpg - 2401-CBN.jpg
Following recent challenges in ensuring timely resolution of complaints from consumers of financial services against financial institutions under its regulatory purview, the Central Bank of Nigeria (CBN) has fixed a time limit of six years, effective within which complaints against financial institutions can be lodged.
The CBN stated this in a circular posted on its website yesterday. It stressed that its consumer protection role had over the years been hampered by "non-availability of, or delays in receiving documentary evidences from both parties." This it stressed underscored the need to have a policy on "time bar" for complaints management in the financial services industry.
"Consequently, the CBN having consulted the relevant stakeholders in the financial services industry, and in line with provisions of limitation legislation; Money Laundering (Prohibition) Act 2013; and CBN Anti-Money Laundering and Counter Financing of Terrorism Regulation for Banks and Other Financial Institutions in Nigeria, 2013, hereby adopts a time limit of six years, effective from the date of the transaction, within which complaints against financial institutions shall be lodged," it added.
However, it stated that the time limitation would not apply to fraud cases; complaints already lodged with the financial institutions and CBN; and international electronic payment transactions whose records are not retained beyond 180 days on the dispute resolution application (arbiter). It pointed out that the latest circular supersedes the earlier circular dated February 16, 2015, on the subject matter.

Source : Thisday

Wednesday, 26 August 2015

EXCLUSIVE: Joan Rivers' $28m NYC penthouse was bought by Muhammad bin Fahd who is 'ripping it to shreds' as neighbors stand by in shock -By Heidi Parker

  • Prince Fahd, 65, bought the Manhattan apartment, DailyMail.com can reveal
  • He is having the penthouse completely renovated by top designers
  • The Upper East Side unit is 5,100 square feet with four bedrooms
  • The Saudi Arabian royal has also asked that a private elevator be installed
  • Comedienne Joan died at the age of 81 on September 4, 2014
In July it was claimed Joan Rivers' Upper East Side apartment in New York City had sold to 'Middle Eastern royalty' for $28 million.
Now DailyMail.com can reveal exclusively the buyer is Muhammad bin Fahd, the son of the late King Fahd and the former governor of the Eastern Province of Saudi Arabia.
The 65-year-old prince has been remodeling the property - a 5,100-square-foot, four-bedroom penthouse - since the purchase, and neighbors are 'shocked,' according to an insider.
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Her home has a new owner: Joan Rivers sold her NYC penthouse in July for $28 million to a Middle Eastern  prince; here she is pictured in June 2014, just three months before she died at the age of 81
Her home has a new owner: Joan Rivers sold her NYC penthouse in July for $28 million to a Middle Eastern prince; here she is pictured in June 2014, just three months before she died at the age of 81
He bought it: DailyMail.com can reveal exclusively the buyer is Muhammad bin Fahd, son of the late King Fahd, who died in 2005
He bought it: DailyMail.com can reveal exclusively the buyer is Muhammad bin Fahd, son of the late King Fahd, who died in 2005
'Ever since Prince Fahd bought the home nearly two months ago, he has had designers and contractors in and out of the place,' a source tells DailyMail.com.
'He is ripping it to shreds. Everyone is surprised because the place had a certain French look, it was very specific, and one would think the buyer would be into that. And now he doesn't want that.'
The property, which is only a half block from Central Park and walking distance to The Plaza, will look completely different from the way Rivers had it, said the insider.
Joan, who passed away in September 4, 2014 from a surgery gone wrong, decorated her home in an orate fashion.
There were crystal chandeliers, marble fireplaces and gilded walls.
The Louis XIV-inspired rooms - which include both a former ballroom and music room - have 23-foot ceilings and antique columns. The penthouse also boasts two large entertainment spaces, which can accommodate 125 people.
Joan once described the condo as 'where Marie Antoinette would have lived if she had the money.'
This is not how it looks now: The 65-year-old prince has been remodeling the property - a 5,100-square-foot, four-bedroom penthouse - since the purchase, and neighbors are 'shocked'
This is not how it looks now: The 65-year-old prince has been remodeling the property - a 5,100-square-foot, four-bedroom penthouse - since the purchase, and neighbors are 'shocked'
'The whole Palace Of Versailles thing is going,' said the source. 'It looks like all traces of Joan's style will be erased.'
The insider added, 'It was not the look Prince Fahd wanted. So he is erasing what Joan did. It's kind of a shame. First Joan died. Now her condo is dying. But that is life, it is constantly changing. Still, it feels weird.
'The home will have a new, more update look. Top designers are being used.'
While the source added that 'no one has made a formal complaint because they can't, it's not their condo,' it is being gossiped about among the owners. 'It is unsettling to say the least,' added the insider.
He doesn't like the old? 'Ever since Prince Fahd bought the home nearly two months ago, he has had designers and contractors in and out of the place,' a source tells DailyMail.com. 'He is ripping it to shreds'
He doesn't like the old? 'Ever since Prince Fahd bought the home nearly two months ago, he has had designers and contractors in and out of the place,' a source tells DailyMail.com. 'He is ripping it to shreds'
The structure was built in 1903 by millionaire John Drexel, with the building - located just off Fifth Avenue at 1 E. 62nd Street - being converted into condos in the 1930s.
Rivers bought the apartment in 1988, ordering a painstaking renovation, though holding onto some of the apartment's original period details.
'Joan sure did love her condo, it was her palace and she felt like the queen there. So it's pretty surreal that a real-life king is moving in now,' said the source.
'The Queen Of Comedy left and the Prince Of The Desert moved in. It's a lot for the neighbors to take in because there is usually not a lot of movement in that building.'
A new look isn't the only thing Prince Fahd wants.
Her den: Joan, who passed away in September 4, 2014 from a surgery gone wrong, decorated her home in an orate fashion
Her den: Joan, who passed away in September 4, 2014 from a surgery gone wrong, decorated her home in an orate fashion
'He has asked if a private elevator can be installed,' said the source.
'There is already an elevator in the building. But he would like an elevator added. This is an unusual request. It is not known if it will be done yet.'
It also appears that Muhammad won't be living there.
'He has said that the property is for his sons when they are in town, and for their families,' said the source.
A gem: The structure was built in 1903 by millionaire John Drexel, with the building - located just off Fifth Avenue at 1 E. 62nd Street - being converted into condos in the 1930s
A gem: The structure was built in 1903 by millionaire John Drexel, with the building - located just off Fifth Avenue at 1 E. 62nd Street - being converted into condos in the 1930s
'No one will be living in the property full time,' it was added.
The insider also relayed that Prince Fahd predicted the unit will be occupied only about 'three to four' months out of the year. 'And it may even be less than that. It may only be two months,' the source said.
When Joan lived there, it was her main residence, though she would fly to Los Angeles often to see her daughter Melissa, 47, and grandson Cooper, 14.
It is also where she filmed E!'s Fashion Police and Joan & Melissa: Joan Knows Best? which ran from 2011 to 2014.

Her daughter and co-star: Joan flew to Los Angeles often to see her daughter Melissa, who she is pictured with here in 2005; it is also where she filmed E!'s Fashion Police and  Joan & Melissa: Joan Knows Best? which ran from 2011 to 2014
Her daughter and co-star: Joan flew to Los Angeles often to see her daughter Melissa, who she is pictured with here in 2005; it is also where she filmed E!'s Fashion Police and Joan & Melissa: Joan Knows Best? which ran from 2011 to 2014
Security is also an issue for the royal. The building has a full-time doorman.
'Muhammad wants security at the building 24 hours a day, seven days a week,' said the source.
'It is of very high importance. A must. But that is really not uncommon for billionaires. Security is always an issue with billionaires. Especially if a billionaire has a royal link.
'Joan was rich, but not a billionaire. She did not have any private security. Only assistants. No one bothered her at all. In fact, she welcomed fans, she welcomed the attention. She liked being recognized on the street. She talked to her neighbors.'
She got it all: Melissa allegedly has inherited the bulk of her mother's estate. According to Us Weekly, the 46-year-old got $75 million in cash as well as her mother's New York apartment
She got it all: Melissa allegedly has inherited the bulk of her mother's estate. According to Us Weekly, the 46-year-old got $75 million in cash as well as her mother's New York apartment
In October it was reported Melissa allegedly inherited the bulk of Joan's multi-million dollar estate.
According to Us Weekly, she got $75 million in cash as well as the New York apartment, which she listed within months.
Cooper received his own bequest, a source told the publication.

Culled from Daily mail

Tuesday, 25 August 2015

Lagos alerts residents to looming flood -By Oluwole Farotimi



Lagos State Government has alerted residents in the coastal and low-line areas to the looming over-flooding of the areas due to the release of water from the Lagco Dam in Cameroun.
The government, in  a statement  by the Permanent Secretary, Ministry of Environment, Mr. Oluwatoyin Onisarotu, said the warning became necessary because of the outcome of the 2015 Flood Management Stakeholders roundtable meeting organised by the Federal Ministry of Environment in Abuja, where preparations were made for the forecast of the 2015 flood management strategies.
The permanent secretary hinted of the possible consequences of the release of water from the Dam in Cameroun and its attendant effect on the coastal waters and the wetlands.
It was also disclosed at the Abuja meeting that the release of excess water from the Dam might cause flooding that will affect the Benue River Basin and States like Adamawa and the Niger-Delta region with flooding problems.
Onisarotu therefore, advised that residents within the coastal and low- line areas, which are prone to flooding to ensure that all canals and drains are properly cleared to ensure free flow of water.
Likewise,they should ensure discouragement of people from dumping waste and refuse into the canals and drainages that may cause havoc and flooding.
He assured that the State Government would ensure that several flood mitigating measures are put in place.

Culled from The Sun

Small man syndrome really does exist, US government researchers conclude -By Sarak Knapton


Men who feel the least masculine are nearly three times more likely to commit violent acts compared with those who are comfortable in their own skin






























Napoleon Bonaparte
Small man snydrome is sometimes called Napolean Complex Photo: Alamy
Small man syndrome really does exist, US government scientists have found, after research showed men who feel the least masculine are at risk of committing violent acts.
Although it is traditionally supposed that ‘macho’ men are the most prone to acts of aggression, in fact outsiders who feel that they do not fit gender stereotypes are equally as dangerous.
Sometimes called the Napoleon complex, small man syndrome supposes that men who feel the least masculine seek power, war and conquest to make up for their physical shortcomings.
Researchers at the federal Centres for Disease Control in Atlanta, Georgia, say men can suffer from ‘male discrepancy stress' where they feel they are falling short of traditional masculine gender norms. And it appears to make them more prone to violence than men who feel comfortable in their own skin.
They analysed responses of 600 US men aged between 18 and 50 in 2012 to an online survey about their perceptions of male gender, their own self-image, and behaviour such as drug taking, violence and crime.
The men who considered themselves less masculine than average and who experienced male discrepancy stress were nearly three times more likely to have committed violent assaults with a weapon or assaults resulting in injury to the victim than those who didn't worry about it.
There was no association between discrepancy stress and daily use of alcohol or drugs, but men who felt less masculine, and who were not worried about it, were the least likely to report violence or driving while under the influence.
"This may suggest that substance use/abuse behaviours are less salient methods of demonstrating traditional masculinity in contrast to behaviours related to sex and violence, perhaps due to the potentially private nature of the habit," suggest the researchers.
They conclude that less masculine men who experience discrepancy stress may be at risk of perpetrating serious violence.
"These data suggest that efforts to reduce men's risk of behaviour likely to result in injury should, in part, focus on the means by which masculine socialization and acceptance of gender norms may induce distress in boys and men," they conclude.
Last year at study by Oxford University concluded that felling smaller makes people feel paranoid, mistrustful and more likely to think that people are staring or talking about them.
The research was published in the journal Injury Prevention.

Culled from Telegraph

Monday, 24 August 2015

Lawyer seeks to jail FRSC chief -Joseph Jibueze

Lawyer seeks to jail FRSC chief
Activist-lawyer Mr Tope Alabi has initiated contempt proceedings against the Federal Road Safety Corps (FRSC) Chief Executive Boboye Oyeyemi for allegedly disobeying a court order barring the corps’  to impose fines on motorists.
The Federal High Court in Lagos, last September 26, nullified FRSC’s powers to fine motorists for violating traffic rules.
Justice John Tsoho held that only a court could an pronounce a motorist or driver guilty of violating traffic rules and order them to pay a fine.
The judge, who delivered the verdict in a suit by Alabi, said FRSC is not empowered to impose fines under sections 10 (4) and 28 (2) of the FRSC (Establishment) Act 2007 because it is not a court.
According to the judge, FRSC could arrest motorists for traffic offences, but it must take them to mobile or other courts with  powers punish traffic offenders.
However, Alabi is contending that FRSC officials had not complied with the judgment which he said is yet to be set aside by the Court of Appeal.
Besides, he said FRSC did not apply for or obtain any way execution of the judgment.
Therefore, he filed a Notice of Consequences of Disobedience to Order of Court, dated August 20.
The notice warns the Corps Marshal Oyeyemi of being held liable for contempt if his men continue to violate the order by arresting and imposing fines on erring motorists without taking them to court.
It reads: “Take notice that unless you obey the directions contained in this order, you will be guilty of contempt of court and will be liable to be committed to prison.”

Culled from The Nation

Reps ready for salary cut, declare support for anti-graft war

on   /   in News 12:52 am   /   Comments
By Clifford Ndujihe
L
AGOS— IN support of the move to reduce the high cost of governance and to boost the war against corruption, the House of Representatives has declared its readiness to take salary cut and back President Muhammadu Buhari’s anti-graft measures.
Dogara and Gbajabiamila
Dogara and Gbajabiamila
Making these disclosures, yesterday, in Lagos, Chairman, Ad-hoc Committee on Media and Public Affairs, Hon. Mohammed Sani Zorro, said all members of the House of Representatives irrespective of party affiliations are on the same page with the President on the change agenda and ready to give him the necessary legislative backing to actualize the agenda.
Zorro, who represents Gumel/Gagarawa/Mai Gatari/Sule Tankarkar Federal Constituency of Jigawa State on the platform of the All Progressives Congress (APC), said the need to streamline the funding of the House’s activities in line with best practices across the world and Nigeria’s economic fortunes was the reason the Reps set up the Dr Clement Nwankwo Committee.
Promising Nigerians a new wave of transparency in the conduct of affairs in the House, Zorro, a former national chairman of the Nigeria Union of Journalists (NUJ), said the lawmakers will abide by whatever recommendations the Nwankwo committee makes as regards oversight function allowance, sitting allowance, constituency allowance and all aspects of funding of the House of Representatives.
We’ll lead by  example
On whether the lawmakers can take salary cut, Zorro, who commended President Buhari, Vice President Yemi Osinbajo and some governors, who have elected to have their salaries cut by 50 per cent, said they are willing to toe the same path because “we are conscious of our integrity. We want to live by example.”
He said that the decision of the House to review the funding of its activities was in submission to the wishes of Nigerians.
He said: “I am here to reveal to you that as a result of the consistent outcry by Nigerians, who have been taking critical exception to the funding of the National Assembly, the House has decided to review the holistic funding of its activities.
“This review will also result in right sizing the funding of the various aspects of our activities. We have already put a mechanism in motion to achieve that. It may also result in the drastic cut of our finances be they salaries, allowances and running cost. We are conscious of our integrity; we will lead by example.
“What I can assure you is that we are submitting to the will of the people as a responsive and responsible legislative institution. We can no longer ignore the popular wishes of the Nigerian people who elected us in the first place. Even if the measures that we will consider will inconvenience us, we will rather make that sacrifice and respect the views of the Nigerian people once and for all.”
Declare support  for anti-graft war
On the anti-graft war, he said: “We are ready to support unconditionally the war being waged against corruption as spearheaded by the executive arm of government under President Muhammadu Buhari.
“I can tell you this on behalf of the House. Whoever is averse to the war against corruption in Nigeria is not a patriot. All patriotic people, whether in the National Assembly or outside of it, must support this war because of the implication of the degenerative level of our own corruption, which has compromised everything that Nigeria used to be. We are ready to assist in the building of a strong and strategic Nigeria. This cannot come about with all these reports in the newspapers of pervasive corruption. So, unconditionally, the House will support the war against corruption.”
On call that the scope of the anti-corruption probe should be widened and extended to 1999, Zorro said it is the prerogative of the executive arm of government, which has control over the security and intelligence agencies, to decide “but what the parliament does is to check the excesses, if any, of whatever process that the executive implements.
“Once the National Assembly discovers that this anti-corruption pursuit is tilted unfairly, may be against a person or group of persons, they will query it. But as of now, we are not entertaining any fear. We will support it, even if that corruption probe will involve the National Assembly. We just have to clean up this country because corruption actually reduces our humanity to the barest level.”
- See more at: http://www.vanguardngr.com/2015/08/reps-ready-for-salary-cut-declare-support-for-anti-graft-war/#sthash.T1KWJDyW.dpuf

Sunday, 23 August 2015

Buratai’s Convoy Ambushed by Boko Haram in Borno


160715F-Tukur-Buratai.jpg-160715F-Tukur-Buratai.jpg
 Chief of Army Staff (CoAS), Lt-Gen. Tukur Buratai
  • One soldier, 10 terrorists killed       
  • Boko Haram reinforces ties with IS
By Senator Iroegbu in Abuja, John Shiklam in Kaduna and Michael Olugbode in Maiduguri


The convoy of the Chief of Army Staff (CoAS), Lt-Gen. Tukur Buratai, was Saturday ambushed by suspected Boko Haram terrorists at Faljari village between Mafa and Dikwa, during the Army Chief’s visit to Borno State, THISDAY gathered.
The attack, which left one soldier and 10 terrorists dead, occurred while Buratai was on a morale-boosting visit to the troops in the insurgent-threatened areas of  Mafa,  Dikwa and Logomani.
The Director of Army Public Relations (DAPR), Col. Sani Usman, confirmed the failed terrorist ambush in a statement. The statement, however, did not specifically used the word convoy, it said 'leading column.' He said: “The terrorists encountered an overwhelming fire power from the troops in which 10 of them were killed”, while five others were captured.
Usman also quoted the CoAS as commending the troops at 112 Task Force Battalion location in Mafa and enjoined them to continue to be hardworking and dedicated.
"During the encounter, sadly, we lost a soldier, while an officer and four soldiers sustained gunshot wounds", he said.
The DAPR also disclosed that the arrested terrorists were being interrogated, while the remains of the ‘gallant soldier’ and the wounded soldiers were evacuated back to Maiduguri.
He also gave assurance that the wounded soldiers were stable and responding to treatment at 7 Division Hospital and Medical  Services.
"At Dikwa, Usman said the CoAS interacted with a mammoth crowd of internally displaced persons where he assured them of their safety.
“Thereafter, he addressed some elements of 112 Battalion and told them that the Boko Haram terrorists should not have  any freedom  of action or movement within their area of responsibility. At Logomani,  where troops of 7 Division Strike  Group were refitting, he informed them that Nigerians were very proud of them", he stated.
The Army Spokesman recalled that the unit recaptured Dikwa and  was now heading to the next objective. According to him, Buratai who delivered President Muhammadu Buhari's goodwill message also said that he was adequately  briefed by the GOC 7 Div about their problem.
One interesting aspect of the visit, Usman noted,  was that  Nigerian Air Force led by the Chief of Air Staff (CoAS), Air Marshal Sadique  Abubakar, gave air cover and conducted armed air reconnaissance on the general area.
"While the IDPs were excited with presence of the CoAS, troops at various locations were equally in high spirit and good to go.
"The troops indicated their readiness to carry out assigned tasks," he said.
It also emerged yesterday that Boko Haram militants are strengthening ties with the Islamic State (IS) group as reports have shown that Nigerian militants are fighting in Libya, while recent arrests in Lebanon and India and the blocking of thousands of suspected extremists from leaving Nigeria are other strong indications of the reinforcement of ties with the IS.
Boko Haram had pledged allegiance to IS in March and in June was declared its West African province.
A report in Associated Press quoting Nigeria analyst, Jacob Zenn, in The Sentinel magazine of the Washington-based Jamestown Foundation, stated that an estimated 80 to 200 Boko Haram fighters were in the Libyan city of Sirte.
Zenn noted that Algerian security forces believed Boko Haram fighters had joined other militants in northern Niger.
"The openness of migration routes from Nigeria through eastern Niger to Libya makes travel ... fairly straightforward, and the Islamic State can easily afford to pay smugglers to carry militants (and weapons) along that route," wrote Zenn.
Further evidence of Boko Haram's links with IS was the arrest on August 15 by Lebanese authorities of hardline IS cleric Ahmad al-Assir at Beirut airport. He was said to have planned to fly to Nigeria on a forged Palestinian passport with a valid Nigerian visa.
The Nigeria Immigration Service reported barring 23,472 people from leaving the country between January 2014 and March 2015.
"There have been reports in recent times of some Nigerians departing to join terrorist groups especially in the Middle East and North Africa," said PR Nigeria, which publishes government news.
Two Nigerians studying in India were arrested August 7 as they tried to cross illegally into Pakistan, planning to join IS in Iraq, it said.
More than 1,000 people have been killed in the insurgency since President Muhammad Buhari was elected in March and pledged to halt the 6-year-old Islamic uprising blamed for the deaths of some 20,000.
Meanwhile, in an effort to bring an end to cattle rustling and other security challenges in dreaded Kamuku and Kuyanbana Forests, governors  of  states in the  North-west zone  and Niger met again on Saturday in Kaduna to review  security strategies.
Governors of the five states, bordering the forest, namely Kaduna, Niger, Katsina, Kebbi and Zamfara states had earlier met in June which led to the establishment of  a joint security operation against armed robbery and cattle rustling in the dreaded Kamuku Forest.
The effort had led to the recovery of over 3000 cows while several arrests were made  by the joint security task force made up of the military, police and civil defence corps.
Saturday's meeting which reviewed the operations of the joint task force was said to have been attended by the governors and their security chiefs.
Although Kano and Sokoto states are not bordering the forest, the governors of the two states, were said to have joined the meeting in order to avoid a spillover of security challenges in their states when the criminals are flushed out of the forest.
In an interview with newsmen after the meeting which was held behind closed door and which lasted for about three hours, Governor Aminu Waziri Tambuwal of Sokoto State said the governors would leave no stone unturned to ensure maximum security in their domains.
He commended the collaborative approach adopted, especially by the states surrounding Kamuku and Kuyanbana forests, noting that the effort was yielding positive results.
"We have resolved to support the security agencies both material, financially and morally to improve security situation and ensure that there is no hideout for criminals in the North-west sub-region.
"The collaboration between the states and Federal Government had been very helpful. So, we just sat to review the way forward and how to bring about peaceful coexistence in our region.
"With reports reaching us so far from the security operatives, we are satisfied that the operation is successful and moving smoothly. And we are hopeful that in no distance future, peace will return to the region.
"Initially, it was only five states of Kaduna, Niger, Zamfara, Katsina and Kebbi but today other states like Sokoto and Kano have decided to join hands with the movement to ensure that no hideout for the criminals or terrorists.
"So far, we have made lot of arrests and recovery of property belonging to innocent persons and were returned back to their owners. But it is still ongoing and we will brief you adequately at the end of the operations on the successes recorded.
"We are calling on the people to cooperate and support us by making available necessary information and by reporting suspicious movement around their neighbourhood to security operatives to ensure they are apprehended" the governor said.

Culled from  Thisday

Friday, 21 August 2015

US Pledges Support For Ongoing NNPC Reforms Juliet Alohan


Emmanuel Ibe Kachikwu NNPC GMD
The ongoing reforms of the Nigerian National Petroleum Corporation (NNPC) has received the endorsement of the United States (US) government which has pledged its readiness to work with the corporation’s new management in achieving the federal government’s reform agenda in the oil and gas industry.
This position was made known yesterday by the US Ambassador to Nigeria, James Entwistle, while speaking during a courtesy call on the group managing director (GMD) of the NNPC, Dr Ibe Kachikwu, at the NNPC Towers in Abuja.
According to a statement issued yesterday by the corporation’s spokesman, Ohi Alegbe, Entwistle disclosed that the US is willing to provide all necessary support to the new NNPC management to enable it to realise its set goals and objectives for the industry.
The envoy who noted that though the job of the GMD of NNPC is about the most challenging job in Nigeria, said,
“The US is convinced that Kachikwu has the skills, training and requisite experience to lead the oil and gas industry in Nigeria towards the path of growth and sustainable development.”

Culled from Leadership

Thursday, 20 August 2015

Senators Concerned as Buhari May Have Overlooked Confirmations for AMCON-By Obinna Chima


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• Presidency: We will correct the error
Some members of the National Assembly have expressed concern that in announcing the appointment of a new executive management team for the Asset Management Corporation of Nigeria (AMCON), President Muhammadu Buhari may have overlooked the statutory requirement of seeking the Senate’s confirmation for his nominees before they can become substantive appointees.
The president was also expected to have consulted with the Federal Ministry of Finance and Central Bank of Nigeria (CBN), which by virtue of their ownership of 50 per cent each in AMCON, are statutorily required to nominate the executive management team and forward their recommendations to the president.

The president on Tuesday approved the dissolution of AMCON’s executive management team and simultaneously approved the reconstitution of a new management team for the corporation.
With the announcement, Mr. Mustapha Chike-Obi, the pioneer managing director of AMCON, was immediately replaced by Ahmed Lawan Kuru. In addition, three new executive directors were also appointed.
But the AMCON Act 2010 clearly stipulates that such appointments by the president shall be subject to the confirmation of the Senate, which the statement from the president’s media aide, Femi Adesina, was silent on.
In contrast, when the president appointed the service chiefs in June, he made it clear that their appointment was subject to their confirmation by the Senate.
Specifically, Section 10 (1) of the AMCON Act, 2010, states: “The board shall consist of the following members to be appointed by the president subject to the confirmation of the Senate:
“(a) A part-time Chairman who shall be a nominee of the Federal Ministry of Finance in consultation with the Minister.
“(b) A Managing Director who shall be the Chief Executive Officer of the corporation nominated by the Central Bank of Nigeria (CBN).
“(c) Three Executive Directors, who shall be nominated by the CBN in consultation with the Minister; and
“(d) Five other non-Executive Directors, two to be nominated by the Federal Ministry of Finance, two by the CBN and one by the Nigeria Deposit Insurance Corporation (NDIC).”
According to a National Assembly source, the dilemma in the appointments by the president, who directed that their appointments came into effect on Tuesday, is that with the lawmakers on recess till September 29, this will mean that the confirmation will be kept in abeyance.
“The new management team of AMCON requires Senate confirmation by law. The president just made the announcement without simultaneously seeking for their confirmation by the Senate.
“As it stands, except the Senate decides to hold an emergency session for the purpose of their confirmation, they would have to wait until September 29,” he explained.
When contacted, a senior presidency official admitted that it was an oversight, adding that the clarification on the appointment of the new management team for AMCON was subject to confirmation by the Senate would be made public today.
He added that a letter will also be forwarded by the president to the Senate seeking for the confirmation of his nominees, in line with the AMCON Act.
Also an official of AMCON informed THISDAY that in the absence of a substantive executive management team and a board, which was dissolved by the president last month alongside other boards of federal parastatals, the activities of the corporation might be hampered.
The official explained that the only “A” signatories to AMCON’s bank accounts were from the ousted executive management team and it would require the board to form a quorum, comprising three non-executive directors and two executive directors, and pass a resolution to alter the “A” and “B” signatories of the corporation.
“This means that our activities may be hampered for a while and possibly the payment of salaries affected until these bureaucratic hurdles are scaled.
“The problem is the law setting up AMCON clearly spells out all these issues,” he said. 
AMCON was created by an Act of the National Assembly to be a key stabilising and revitalising tool to revive the financial system by efficiently resolving the non-performing loan assets of the banks in the Nigerian economy.
The new executive directors of the corporation are Kola Ayeye, Eberechukwu Uneze and Aminu Ismail. They replaced Mofoluke Benedicta Dosumu, Hewitt Adegboyega Benson and Abbas Mohammed Jega, who were appointed alongside Chike-Obi in 2010.

Culled from Thisday

Wednesday, 19 August 2015

Rand’s 14-year low not a headache for Sarb governor-Rene Vollgraaff




(File) (Shutterstock)
 
Johannesburg - The rand’s slide to the lowest since 2001 isn’t proving to be as big a headache for South African policy makers as it was the last time the currency was in free-fall.
Two years ago, the South African Reserve Bank (Sarb) estimated that every 10% decline in the rand boosts the inflation rate by two percentage points. While the bank still cites the rand as the main risk to inflation, it now estimates the pass-through effect of a weakening currency to consumer prices may be about half of what it initially assumed. Inflation-linked bonds suggest investors aren’t as worried as the rand heads toward R13 to the dollar.
The rand’s more muted effect on prices, mainly due to weak demand in the economy and increased competition among retailers, is benefiting the inflation outlook at the same time that oil prices trade near a six-year low of $50 a barrel. That gives Reserve Bank Governor Lesetja Kganyago scope to limit rate increases in an effort to support an economy hit by power shortages, falling commodity prices and strikes.
“We’ve had petrol-price shocks and food-price shocks and a huge exchange-rate shock, but core inflation actually behaved itself quite well,” Dave Mohr, chief investment strategist at Cape Town-based Old Mutual Wealth, said by phone on 14 August. “That shows that the economy is less inflationary than what traditional models show.”
Break-even rate
Core inflation, which excludes a broad group of food and energy costs, eased to 5.5% in June and was probably unchanged in July, according to the median estimate of 14 economists surveyed by Bloomberg. Data from the statistics office, which is due to be published on Wednesday, will probably show headline inflation accelerated to 5% from 4.7%.
The five-year break-even rate, a measure of investors’ inflation expectations in the period, fell five basis points this month to 6.53% even as the rand slid 2% against the dollar. That compares with a 20 basis-point increase in the same period in Turkey, one of South Africa’s emerging market peers.
Investor expectations of another interest-rate increase have barely budged this year despite the currency’s weakness. Forward-rate agreements starting in five months, used to speculate on borrowing costs, show traders are pricing in 34 basis points of interest-rate increases by the end of the year, compared with 38 basis points at the beginning of the month.
Lower risk
The central bank raised its benchmark repurchase rate on July 23 for the first time in a year to 6% as it forecast inflation will exceed the 3% to 6% target band for the first half of next year. The bank’s current interest-rate tightening cycle will be “moderate,” Kganyago said on August 11.
“Oil is coming down and inflation forecasts will probably be revised downwards a bit on the basis of that,” Jonathan Myerson, head of fixed-income investments at Cadiz Asset Management in Cape Town, said by phone on August 14. There’s a chance of another interest rate increase this year as the US Federal Reserve moves closer to tightening monetary policy, he said.
The rand weakened 0.01% percent to trade at 12.91 per dollar as of 07:00 on Wednesday, taking its decline since the start of the year to 11%. Yields on rand-denominated government bonds due December 2026 rose six basis points to 8.27%.
“The rand’s weakness will not necessarily lead to an inflation problem,” Elize Kruger, an economist at KADD Capital, said by phone from Johannesburg on Monday. “It is a risk, but it’s not a risk that has played out to the same extent as it did in the past after rand weakness.”

Culled from Bloomberg in News24

Tuesday, 18 August 2015

FG to recruit 10,000 policemen for terrorism war –Buhari From Juliana Taiwo-Obalonye


President Muhammadu Buhari has disclosed that his administration will recruit 10,000 police officers to fight the ‎terrorism war.
President Buhari made the disclosure in his remarks at the ‎National Security Summit organised by the Nigeria Police, in collaboration with The Sun Publishing Limited,‎ at the International Conference Centre, Abuja.
The theme of the security summit is, ‘Community Partnership Approach to Internal Security and Crime Management’.
According to the president the Federal Government was planning to employ extra 10,000 police officers, saying it would establish a proper and equip multi-lateral anti-terrorism multi-agencies taskforce to effectively address the challenge of the insurgency in a sustainable manner.
He said his administration was making efforts to enhance operational capacities of officers of the police through tailored-made training programmes that would give them the right civil orientation in their roles as guardians of the constitution.
To further strengthen security of the public space, Buhari said security was being monitored with the CCTV monitoring system in major cities and towns in the country while the police and security mechanisms would be strengthened.
He said in appreciation of the strategic role of the Nigerians and the communities, his administration would encourage states to recreate state and community interacting with the police under a model that would integrate members of the community to policing at the grassroots level.
The president said he was expectant that the summit would come out with ways to attain these policies and focus of the administration.
President Buhari also commended the leadership of the police for appreciating the yearnings of the public by dismantling roadblocks, which had consistently portrayed a dark side of policing and became object of discord between the citizens and the police.
He acknowledged the initiative of the Inspector General of Police, Solomon Arase, to ‎introduce the safe highway motorized scheme and deploy over 500 patrol vehicles along major high ways to replace roadblocks, meant to reassure citizens of their security and safety.
He also noted the police leadership’s commitment to uphold Chapter 4 of the Constitution and commit officers of the force to the adherence of United Nations and African Union Charter and other global instruments on human rights ‎while also introducing alternative dispute resolution procedures for policing functions.
He commended the IGP’s policy trust that discouraged retrial of Nigerian citizens and encouraged the practice of intelligence crime detection.
The president said these initiatives if properly implemented ‎would address and strengthen citizens’ confidence in the police, enhance and create good grounds for community-led policing to flourish.
He tasked the police to not just talk the talk, but also to walk the talk in line with Federal Government’s promise to Nigerians.
He said his administration would strive to bequeath a reformed, re-orientated, well-trained, well-equipped and highly motivated police force, adding that the dream could only be achieved with the support of the citizens.
Buhari said it was a sacred responsibility, which all citizens owed the country, especially at this time that his administration was re-energising the counter-terrorism initiatives and working very hard to protect the citizens from crime and guarantee the safety and security of all Nigerians.

Culled from The sun

Monday, 17 August 2015

Abolition Of Joint State, LG Account Good For Katsina – Masari By Michael Oche


Aminu-Masari
The national welfare secretary of the All Progressives Congress (APC) has said the decision of the Katsina State governor, Alhaji Aminu Masari, to abolish the joint state and local government account was for the best interest of the state as it would speed up development at the grassroots.
The welfare secretary, who spoke to Leadership in Abuja, said better development at the rural areas would empower rural youths and also improve security in the state.
He explained that those kicking against the dissolution of the local government council by the governor lacked knowledge of the extant laws on local government administration in Katsina State.
He said, “The local government chairmen were lucky because the governor is being lenient and simple. If I were him, I would have taken them to EFCC to be prosecuted. The sacked local government chairmen jointly abused their position as members of the joint local government account allocation committee which controls the state’s joint local government account by sanctioning the withdrawal of money from it for a purpose other than what the account is legally meant.”
He also cited Section 81[a] of the Local Government Law 2010 as amended which provides that: “In the interest of security, peace, order and good governance or for acts of mismanagement of public funds, the governor may at any time before the expiration of tenure of a local government council dissolve any or all the 34 local government councils.”
He said this law was not made recently and that the former PDP regime in the state even amended it in 2010, and retained this provision.

Culled from Leadership

Friday, 14 August 2015

Kachikwu Unfolds Three-pronged Strategy for NNPC’s Restructuring-Tobi Soniyi and Chineme Okafor


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Group Managing Director (GMD) of NNPC, Dr. Emmanuel Ibe Kachikwu

The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Emmanuel Ibe Kachikwu, has given a hint on the three-pronged strategy for the restructuring of the state-run oil firm, adding that this would entail the reorganisation of management personnel, a forensic audit of the firm's accounts, and a review of its contracts with oil majors and other industry operators.
Kachikwu, who spoke to State House correspondents in Abuja after a meeting with President Muhammadu Buhari, also said more workers might be relieved of their jobs.
Kachikwu said the restructuring going on at the NNPC would be from “A to Z”, meaning from top to the bottom.
“It is an A to Z restructuring. I have done the first three layers, which had to do with the GEDs (Group Executive Directors) and Group General Managers. We are going to have a lot more now – the DGMs (Deputy General Managers) and GMs (General Managers) – as this would take us to the next layer, which is the lower layer.
“The whole idea is to go back to being able to look at the appraisals, how well they have done on the job and if they have done very well, how do we elevate them to positions where they can offer more service.
“If they have not done well enough, and we can retrain them, we will, but if they have not done well enough and there is no possibility of retraining, we will let them go.
“At the end of the day, NNPC isn’t a public service, it is a corporation and it is going to be run like a company, generating money and profit for Nigerians, so that the whole concept of anything goes is going to stop and this is the first stage in that whole process,” he said.
He said his approach to restructuring NNPC was based on a three-pronged process, explaining that there was the people aspect, which is being handled now by “getting the right people in the right places”.
On the second pronged strategy, he said: “We are going to get a forensic audit done so that we know clearly, not the (limited) one done by PricewaterhouseCoopers (PwC), but a proper forensic audit that will cover us all the way to 2014, 2015, and we will be able to say to you this is the state of the corporation and the economy.
“We are going to put processes and controls in place; we are going to do retraining and repositioning and then we are going to engage our (oil) majors and minors, all those who are active in the sector for us to work as a team trying to take Nigeria forward.
“The final stage will be the business stage, looking at all the existing contracts — are they good? Are they ok? Do they need to be redone? Look at the PSCs
(Production Sharing Contracts) and what do we do going forward? Look at the challenges posed by the reducing balancing sheet as a result of $50 or $40 per barrel for dark oil.
“What do we do to energise recovery and the income growth so that the government will have money to work with?
“It is a very intensive and calibrated work. A lot of us are not spending time sleeping, but over the next five to six months you will begin to see a new emergence in the NNPC, a new process of oil administration in the country and obviously giving fillip to Mr. President’s dream of taking the oil industry back to where it should be.”
He explained that a lot of things had been mishandled in the past and that things needed to be corrected.
He said his team was doing a lot of work on repositioning, restrategising and getting the right personnel in key places, and setting a culture for accountability and service delivery.
“I think that the new NNPC that you are going to see going forward will be a different institution all together,” he said.
When asked what would happen to the money in NNPC’s numerous accounts in view of the federal government’s directive that all ministries and agencies should operate a Treasure Single Account (TSA) with the Central Bank of Nigeria (CBN), he said: “All that is being looked at because to run an oil company you need a lot of funds to do so.
“If you don’t, you will close down the corporation and the production system will close down. So we are looking at having merged the need for accountability and openness with the need to make sure that the industry also survives, you cannot throw away the baby with the bath water."
Also, in furtherance of its reorganisation, NNPC yesterday released the names of 15 new GGMs who were promoted this week to run its subsidiaries and business units.
A statement by the corporation’s spokesman Ohi Alegbe said this followed the recent sack and retirement of key top officials of the corporation in a reorganisation exercise that kicked in with the appointment of Kachikwu as its new GMD.
NNPC said that its reorganisation into a lean, efficient and business-focused organisation commenced with the management’s approval of the retirement of 38 senior managers on Tuesday.
It explained that the downsizing, which saw the exit of all senior managers who were billed to retire between 2015 and December 2016, was also a cost-saving measure, as exclusively reported by THISDAY last week.
The statement also quoted Kachikwu’s buttressing of the objectives, saying:
“The exercise, apart from gearing the corporation in the direction of a leaner and more efficient organisation, has enormous cost-saving benefits.”
Kachikwu said with Buhari’s approval, the appointment of the new GGMs to man some of NNPC’s strategic divisions was made.
The new GGMs are Mr. Mele Kyari who will head the Crude Oil Marketing Division (COMD); Mr. Ahmadu Sambo to oversee NNPC’s Oilfield Services; Dr. Surajdeen Bola Afolabi who will head the Information Technology Department and System Application Products (ITD/SAP); Mr. Zubair Aliyu to head NNPC Capital; and Mr. Dafe Sejebor to oversee Nigerian Petroleum Investment Management Services (NAPIMS).
Others are Mrs. Kemi Akitoye who is now GGM in charge of the Human Resources Division; Mr. Godwin Okonkwo, GGM, Finance; Mr. Bello Rabiu, GGM, Corporate Planning Division; Mr. Anibo Kragha, GGM, Treasury; and Mr. Dalhatu Makama, GGM, Shipping (Nidas and Nikorma).
Mr. Samuel Ndukwe was also appointed GGM, Power; Mr. Mike Balami, GGM, Accounts; Mr. Yusuf Matashi, GGM, Liquefied Natural Gas (LNG); Mr. Rabiu Suleiman, GGM, Engineering and Technoloy; and Dr. Olubunmi Oyetunde, GGM, Medical.

Culled from Thisday

Wednesday, 12 August 2015

Reps ask FG to repair Apapa Ports, Kabba-Obajana roads-By Adamu Abuh and Terhemba Daka

Speaker House of Representatives , Yakubu Dogara raising the Gavel after his election during the the inauguration of the 8th National Assembly in Abuja on Tuesday. PHOTO: Ladidi Lucy Elukpo.
Speaker House of Representatives , Yakubu Dogara raising the Gavel after his election during the the inauguration of the 8th National Assembly in Abuja on Tuesday. PHOTO: Ladidi Lucy Elukpo.
• Order probe of delay in HYPADEC take-off, FIRS
• Not all lawmakers can head committees, says Dogara 
The House of Representatives yesterday passed a resolution urging the authorities to reconstruct the Kabba -Obajana road in Kogi State. At the plenary session presided by Speaker Yakubu Dogara, the lawmakers also called for the rehabilitation of the Apapa port road in Lagos state.
The resolutions followed the adoption of motions sponsored by Tajudeen Yusuf, APC Kogi and Joseph Ayodeji, APC Lagos respectively. Yusuf, while moving the motion expressed concern over the deplorable nature of the Kabba -Obajana road which links the federal capital territory (FCT) to Kogi, Kwara, Ekiti and other states in the South West zone of the country.
He further claimed that motorists now suffer unnecessary delays, leaving them with the option of taking the Lokoja-Okene axis road due to the poor condition of the road.
The House thereby urged the federal ministry of works or the Federal Roads Maintenance Agency (FERMA) to undertake immediate reconstruction of the Odabudabu bridge at Okebukun as well as beef up security along the Obajana-Kabba road to protect lives and properties of travelers and the affected communities along the route of the road.
On the Apapa port road, the lawmakers resolved to constitute an ad-hoc committee to determine why the Department of Petroleum Resources (DPR) failed to ensure that the condition for the grant of licences, which included locating tank farms outside the metropolis was kept.
Urging the federal ministry of works to rehabilitate the road and ultimately construct a dedicated bridge for cars and buses only with the aim of restricting trucks and trailers to a dedicated lane to reduce traffic congestion, the lawmakers urged the federal ministry of transport to make the construction of cargo rails an immediate priority in order to drastically reduce the use of trailers in the haulage of goods.
Prior to the adoption of the motion, Joseph said the deplorable nature of the port road is worsening the already chaotic traffic situation in the Apapa area resulting into loss of productive time by people who get stuck in the traffic gridlock.
Also, the House of Representatives has tasked the Committee of Power (when constituted) to investigate the reasons for the delayed take off of the Hydro Power Producing Areas Development Commission (HYPADEC) after the commission had spent N610 million from appropriations.
This followed a motion introduced on the floor by Mohammad Mahmud ‎entitled “need to address the non take off of the hydro power producing areas development commission (HYPADEC) five years after the act establishing it was passed into law.”
Also at its plenary, the House yesterday ordered an investigation aimed at ascertaining the manner how the Federal Inland Revenue Service (FIRS) maintain its records of revenue receipts, and if it is operating in compliance with the nation’s constitution, and its establishing statutes.
Abubakar Amuda-Kanike in a motion calling for a mandate on the Committee on Finance, when constituted to look into the accounting procedures of the FIRS, yesterday said in 2014, out of the N4.69 trillion generated by the Service, non-oil taxes were given as N2.24 trillion, and that four percent of the generated, amounting to N89.6 billion was presumably retained as operational costs for the year.
Meanwhile, the Speaker of the House of Representatives, Yakubu Dogara yesterday declared that not all members should expect to be appointed Chairmen or Deputy Chairmen of Committees in the yet-to-be re-constituted Committees of the Green Chamber.
This came just as the panel in charge of the selection of heads, deputies and membership of the various House committees led by the Speaker yesterday began its inaugural meeting at the National Assembly.
It was learnt that the Speaker may name heads of its over 90 committees this week. Meanwhile, the House is expected to adjourn for recess on Thursday to resume next month.

Culled from Guardian

Tuesday, 11 August 2015

Ohanaeze to Buhari: Don’t stop work on Second Niger Bridge -From Aloysius Attah


The apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, has urged President Muhammadu Buhari not to stop work on the second Niger Bridge but instead, ensure timely completion of the project.
President of Anambra State chapter of Ohanaeze Ndigbo, Elder Chris Eluemunor, made the call at the weekend, while fielding questions from reporters in Onitsha  on speculations that the project had been stalled.  He said the second Niger Bridge was of immense importance, not only to the people of the South South and the South East states, but the entire nation.
Eluemunor said: “Why would anybody stop the project? Any government that tries to stop the project is an enemy of Ndigbo. That project will help travelers coming from Abuja and Lagos as well as those going to Port Harcourt, Aba and other parts of the country to get to their destination easily. Let the project go on. After all, Obasanjo told us that the project had started but nothing happened. Now that somebody has launched the project for real, I don’t think it is wise to stop it.
“If the present government does not like the contract terms, let them review it but let the project go on.”
On the delayed appointment of ministers, Eluemunor wondered whether President Buhari was looking for angels to occupy the ministerial slots. However, he appealed to Nigerians to give the President time to choose his cabinet; so that he would not have any excuse if he failed.
He said Ohanaeze wished the president well and strongly hoped that he would execute all the promises he made to Nigerians during the campaigns.

Culled from The Sun

Monday, 10 August 2015

Nigeria's Buhari shakes up state payments system in anti-graft drive

ABUJA (Reuters) - Nigeria's President Muhammadu Buhari has ordered ministries to use only approved government bank accounts to make payments, the vice president's office said on Sunday, part of a drive to improve transparency and clamp down on corruption.
Buhari, who took office in May after being elected on promises to fight endemic graft in Africa's biggest economy, has said he believes officials have stolen around $150 billion from the public purse over the past decade.
Under the new system, all receipts due to the government or any of its agencies must be paid into accounts maintained by the central bank unless specific permission has been granted not to do so.
"President Muhammadu Buhari has ordered each and every federal government ministry, department or agency to start paying into a Treasury Single Account (TSA) for all government revenues, incomes and other receipts," said Laolu Akande, a spokesman for Vice President Yemi Osinbajo.
"This measure is specifically to promote transparency," he said, adding that the TSA would be linked to other government bank accounts.
Akande said the new system would end the use of "several fragmented accounts for government revenues", which he said had led to "the loss or leakages of legitimate income meant for the federation account".
The effectiveness of this change in public accounting remains to be seen since corruption and mismanagement of public funds have been entrenched in Nigeria's political system for decades.
Last month Buhari said his administration would trace and recover what he called "mind-boggling" sums of money stolen from the oil sector, which provides about 70 percent of revenues of the government in Africa's biggest crude producer.
(Reporting by Felix Onuah; Writing by Alexis Akwagyiram; Editing by Gareth Jones)
Image result for buhari pictures


Culled from Reuters