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<div class="_6ks" style="line-height: 0; position: relative; z-index: 1;"> <a href="http://www.igberetvnews.com/1495" rel="nofollow" style="color: #3b5998; cursor: pointer;" tabindex="-1" target="_blank"></a><br /> <div class="_6l- __c_" style="background-color: white; position: relative;"> <div class="uiScaledImageContainer _6m5 fbStoryAttachmentImage" style="background-position: 50% 50%; background-repeat: no-repeat; color: rgba(0, 0, 0, 0.14902); height: 246px; overflow: hidden; position: relative; width: 470px;"> <a href="http://www.igberetvnews.com/1495" rel="nofollow" style="color: #3b5998; cursor: pointer;" tabindex="-1" target="_blank"><img alt="" class="scaledImageFitWidth img" height="246" src="https://fbexternal-a.akamaihd.net/safe_image.php?d=AQClKB6JBol5KXLp&w=470&h=246&url=http%3A%2F%2Fwww.igberetvnews.com%2Fwp-content%2Fuploads%2F2016%2F03%2Fcourt.jpg&cfs=1&upscale=1&sx=0&sy=5&sw=512&sh=268&ext=webp" style="border: 0px; height: auto; min-height: 100%; position: relative; vertical-align: bottom; width: 470px;" width="470" /></a></div> </div> <a href="http://www.igberetvnews.com/1495" rel="nofollow" style="color: #3b5998; cursor: pointer;" tabindex="-1" target="_blank"> </a></div> <div class="_3ekx"> <div class="_6m3" style="background-color: white; color: #141823; font-family: helvetica, arial, sans-serif; font-size: 12px; height: auto; line-height: 16.08px; margin: 10px 12px; max-height: 100px; position: relative;"> <div class="mbs _6m6" style="font-family: Georgia, 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 18px; line-height: 22px; margin-bottom: 5px; max-height: 110px; overflow: hidden; transition: color 0.1s ease-in-out; word-wrap: break-word;"> <a href="http://l.facebook.com/l.php?u=http%3A%2F%2Fwww.igberetvnews.com%2F1495&h=kAQEDklqo&enc=AZN7n8PyntmSK40GgLZhqgVAsVJzO1bSzlm8cYCYaduNI03Alc_ik9gLBTVTvYYWCUftrTy0RVfwlLm2Ql1KV2jNpTLV2dE2fF7oQTJL8CWZe7JjUhGdQTmXzvJEPsvmQsUrI_LFwrYlkB0ZcF6rLAnTXXN7gAxLmXkddwk2MlOqOEmENV2KzstveFoCz6wbl4EkOJKJ0ZOiR-H0oYzMaP-M&s=1" rel="nofollow" style="color: #141823; cursor: pointer; text-decoration: none; transition: color 0.1s ease-in-out;" target="_blank">BREAKING NEWS!!! Court Bars Buhari From Deploying Soldiers to Rivers for Saturday’s Rerun Election</a></div> <div class="_59tj" style="padding-top: 9px; position: relative;"> <div class="_6lz _6mb ellipsis" style="color: #9197a3; font-size: 11px; line-height: 11px; overflow: hidden; text-overflow: ellipsis; text-transform: uppercase; white-space: nowrap;"> IGBERETVNEWS.COM</div> <div> <br /></div> <div class="_5tc6" style="color: #9197a3; margin-top: 5px;"> </div> </div> </div> </div>

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BREAKING NEWS!!! Court Bars Buhari From Deploying Soldiers to Rivers for Saturday’s Rerun Election IGBERETVNEWS.COM

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Kachikwu Invites Traders on Oil Swaps, OPAs, Funds Recovery

<div style="text-align: justify;"> <img alt="050815F-Emmanuel-Ibe-Kachik.jpg - 050815F-Emmanuel-Ibe-Kachik.jpg" height="184" id="page_content_Content9_oModuleContent_3_img_Banner" src="http://cdn.akamai.thisdaylive.com/0bef99d6-acf5-4e2c-9779-8fa02ba3fcd4/assets/050815F-Emmanuel-Ibe-Kachik.jpg?maxwidth=400&maxheight=540" width="320" /> </div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> According to THISDAYNEWS, Following the carte blanche given by President Muhammadu Buhari to clean up the Nigerian National Petroleum Corporation (NNPC) and plug the leakages in the state-run oil firm, its new Group Managing Director, Dr. Emmanuel Kachikwu, will from this week start inviting oil traders who were awarded crude oil swaps and offshore processing contracts by NNPC during the administration of President Goodluck Jonathan.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The goal, THISDAY learnt from top NNPC sources, is to reopen the reconciliation process for the oil swaps and offshore processing agreements  (OPAs) to determine if the oil traders met the terms of the contracts in terms of delivery of fuel product cargoes to NNPC’s subsidiary the Pipelines and Products Marketing Company (PPMC).</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> THISDAY last June had exclusively reported that the Department of State Services (DSS) had opened a probe into the crude oil swaps and OPAs entered into by NNPC and oil traders.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> But the traders claimed that the probe was a witch-hunt triggered by one of their competitors in the industry and argued that swaps and OPAs were covered by irrevocable standing letters of credit to the value of the crude of lifted or petroleum products scheduled for delivery to PPMC.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The traders also explained that a quarterly reconciliation process is carried out by NNPC to ascertain under or over-deliveries of product cargoes, following which refunds are made to the corporation and vice versa.</div> <div style="text-align: justify;"> However, the suspicion is that some of the traders lifted crude oil and sold it, but under-delivered product </div> <div style="text-align: justify;"> cargoes to NNPC, thus costing the country several billions of dollars.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> This was given fillip by a report released last week by New York-based Natural Resource Governance Institute (NRGI) which claimed that Nigeria lost over $32 billion oil revenue due to the mismanagement of domestic crude allocations (DCA) by NNPC, as well as the opaque revenue retention practices and oil-for-product swap agreements signed between the corporation and some oil traders.<br /> Accordingly, a top NNPC official informed THISDAY at the weekend that Kachikwu intends to start a probe this week by inviting the oil traders to account for the crude oil they lifted and products that were delivered in return.<br /> </div> <div style="text-align: justify;"> He said where it is established that they under-delivered fuel cargoes, they would be asked to repay NNPC what they owe, failing which they shall be handed over to the law enforcement agencies for prosecution.</div> <div style="text-align: justify;"> He said: “The goal is to make them pay up once it is ascertained that they under-delivered product cargoes and not to send them to jail. Kachikwu is even willing to accept a payment plan that would ensure that their companies do not go under because they are going concerns and he recognises that they are employers of labour.</div> <div style="text-align: justify;"> “So all he wants is for them to refund what they owe NNPC (or PPMC). However, where they prove to be stubborn, he will not hesitate to call in the law enforcement agencies to prosecute them for failing to deliver the cargoes due to the corporation.”</div> <div style="text-align: justify;"> Kachikwu, he explained, would also be investigating what became of the funds meant to have been paid to or swapped on behalf of PPMC on retained petroleum products such as low pour fuel oil (LPFO), naphtha, bitumen and other heavy fuels that the oil traders were not required to deliver.</div> <div style="text-align: justify;"> “PPMC usually orders for just petrol and kerosene under the oil swaps and offshore processing contracts, as there is high domestic demand for these two products, while diesel which is completely deregulated is imported independently by oil marketers.</div> <div style="text-align: justify;"> “However in the refining process, other distillates are produced which may not be required by PPMC. These distillates comprise the heavy liquids, also known as retained products, which are either supposed to be sold and the proceeds from the sale returned to PPMC or swapped for more petrol and kerosene, failing which oil traders will remain indebted to the corporation,” he explained.</div> <div style="text-align: justify;"> Of Nigeria’s total oil output, NNPC is allocated 445,000 barrels of crude oil per day (bpd), being the nameplate capacity of its four refineries.</div> <div style="text-align: justify;"> The rule of thumb is that NNPC is required to pay for the 445,000bpd at the going price of crude oil in the international market and remit the proceeds to Federation Account, but often failed to remit the funds to the treasury.<br /> Also, owing to Nigeria’s low refining output, NNPC has operated the crude swaps and offshore processing contracts for decades.</div> <div style="text-align: justify;"> Under the swaps, NNPC used to allocate about 50 per cent of its 445,000bpd to oil traders who in turn sold the crude oil and were expected to import petroleum products or enter into contracts with offshore refineries that produce the products for delivery to Nigeria.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> By 2014, however, NNPC was allocating its entire 445,000bpd to traders who were alleged to have sold the crude oil but under-delivered product cargoes, thus increasing Nigeria’s losses.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Meanwhile, the Federal Inland Revenue Service (FIRS) has said it plans to increase the value added tax (VAT) on goods and service from the five per cent to 10 per cent.</div> <div style="text-align: justify;"> The acting chairman of the FIRS, Mr. Sunday Ogungbesan, disclosed this during an interactive session with journalists in Lagos at the weekend.<br /> He said FIRS was consulting with the relevant agencies in government on the need to increase VAT in view of falling oil prices, which has adversely affected the economy.</div> <div style="text-align: justify;"> Nigeria has one of the lowest VAT regimes on the African continent. Long before oil prices crashed, several economists had called on the federal government to review its VAT levy in line with what obtains in smaller economies on the continent such as South Africa, Egypt, Morocco and Kenya, among others.</div> <div style="text-align: justify;"> Also, FIRS said it might clamp down on recalcitrant companies that have been evading tax in the country.</div> <div style="text-align: justify;"> Ogungbesan disclosed that of about 450,000 corporate entities in the country, only about 125,000 pay taxes to the government coffers.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> According to him, one of the greatest challenges facing the FIRS was tax evasion by most companies and briefcase concerns that cannot be traced.</div> <div style="text-align: justify;"> <br /> He explained that the FIRS had resorted to engagement to get tax defaulters to change by paying their taxes as and when due.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The FIRS boss said the agency had tried different options in the past to enforce compliance, including the option of sealing companies that evade taxes, but discovered that it adversely affected man hours and Nigeria’s gross domestic product.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> He maintained that he would continue with the option of engagement rather than clamping down on defaulters, pointing out that the former was already yielding results.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> He however declared that the FIRS would not hesitate to clamp down on those who remain recalcitrant and refuse to comply with the law.</div> <div style="text-align: justify;"> <br /> He said the desire of the FIRS was to meet set revenue targets, pointing out that it would  help shore up Nigeria’s finances.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> He said: “If we achieve our revenue targets, to a large extent government deficits will be reduced,” </div> <div style="text-align: justify;"> “Our plan is to bring every business into the tax net, because this economy can survive outside oil."</div> <div style="text-align: justify;"> Ogungbesan said the FIRS was doing everything possible to encourage payment of taxes, including allowing companies to pay in installments and more.<br /> “I am ready to allow companies that are willing to pay up to 20 installments,” he declared.</div> <div style="text-align: justify;"> <br /></div>

Kachikwu Invites Traders on Oil Swaps, OPAs, Funds Recovery

  According to THISDAYNEWS, Following the carte blanche given by President Muhammadu Buhari to clean up the Nigerian National Petroleu...

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Men of God failed to deliver Jonathan from a spell – Bishop Mike Okonkwo

<div style="text-align: justify;"> BISHOP MIKE OKONKWO 70TH BIRTHDAY</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <em>D</em><em>r Mike Okonkwo is the presiding Bishop of The Redeemed Evangelical Mission, TREM, with over 160 branches in Nigeria and across the globe. </em><em>The top Evangelist who will celebrate his 70th birthday come September 6, in this interview shares his life challenges, his turn around as well as the present anti-corruption crusade in the country. Excerpts.</em></div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <strong>My Parents and career</strong></div> <div style="text-align: justify;"> My parents were angry with me for choosing the Ministry. They did everything they could to stop me but I was resolute. They could not understand why of all professions, I chose the ministry. I was working in the bank, and very comfortable.</div> <div style="text-align: justify;"> <br /></div> <div class="wp-caption alignright" id="attachment_548338" style="text-align: justify; width: 422px;"> <a href="http://www.vanguardngr.com/2015/08/men-of-god-failed-to-deliver-jonathan-from-a-spell-bishop-mike-okonkwo/bishop-mike-okonkwo/" rel="attachment wp-att-548338"><img alt="BISHOP MIKE OKONKWO " class="size-full wp-image-548338" height="250" src="http://cdn2.vanguardngr.com/wp-content/uploads/2015/08/412x250xBISHOP-MIKE-OKONKWO.jpg.pagespeed.ic.iEwVKroe5f.jpg" width="412" /></a><div class="wp-caption-text"> BISHOP MIKE OKONKWO</div> </div> <div style="text-align: justify;"> They said I had bright future in the then African Continental Bank, Lagos. And to worsen it all, of all places in the Pentecostal church, they maintained that if I want to answer the call of God, I should go and answer from the Anglican or Catholic. At a stage, they went and arranged for police to arrest me, frame me for something in order to distract me and change my mind. But nothing was going to change my mind. So, in another four years, I refused to have contact with them so that I would not be distracted. But I am glad to say before my father died, he was able to see and rw that this is the ministry God has actually called me.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <strong>Growing up</strong></div> <div style="text-align: justify;"> My parents were disciplinarians. My father was a civil servant in the then Post & Telecommunication. My father sent me to Offa in 1957 to live with a teacher. There, I passed my entrance exams to Mayflower Grammar school, Ikenne. Because of the need to understand my native language, after two years, I changed to Merchant of Life in Oba, a school close to Onitsha where I graduated in 1963.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> When I left school, I worked in Ports Authority in Lagos for a few months. What I saw there was frightening – how money changed hands. I was not comfortable in that environment and I told my parents, that the place was not for me. So, again, I had to leave. I moved to African Continental Bank. Even as cashier in ACB, I remember one day, as I went for lunch, somebody followed me and asked that I should change some counterfeit money for genuine ones for him, saying he would give me a share from it. I was afraid and I ran away because I felt somebody would be listening. It was during the civil war and we were afraid as non-indigene, so, I asked for a transfer and I was moved to Onitsha.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Thereafter, the civil war intensified, the Nigerian troops conquered Onitsha, we then moved to Awka and from there again, to Port Harcourt. At that point different branches of ACB were moving, eventually, we came to Owerri.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> In Owerri, the manager did not like me and it had nothing to do with my job. He felt I should be coming around him like other people but I felt there was no reason for that. When the war intensified, they were now recruiting people into the army by force. Although banking was viewed as part of essential services during the war, as the war intensified, they had to recruit from the banks as well. One of the days they came to recruit, they conscripted some people into the army but they missed me because I went to buy cigarette. The manager was not too happy that I was not part of them.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> I did not understand why he would want me to go to the army. He went to the camp and secured the release of those selected and asked that the exercise should be repeated and through a ballot system. Again, we did ballot and I won that I will not to go to the army. He was not still happy. Again, he organised that the military people should come to the office and pick whoever they wanted perhaps with an indication that they should pick me. We were busy at the counter that day and suddenly the manager called me and two others.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> We went to his office and we met a military captain and his assistant. The manager said, ‘gentlemen, the headquarters said we should hand you over to the Captain.’ I wanted to run, and the Captain said he would shoot me if dared. Then I said okay, they should at least allow us to hand over our official duties. They agreed, and as soon as we stepped out of the manager’s office, we ran away. I ran for miles and again, I found myself in a military camp where one of my class mates was in charge. I told him what happened. That was how I stopped working in ACB. From there I went to look for my parents where they were being held as refugees.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> By then, Dr Iloh was in charge of the Red Cross. I stayed with him for a few months. The war intensified and I was afraid they were going to catch me on the streets to join the army because that was the norm. So, when I found out that I could not escape it, I told my parents that my brother and I have to willingly go and register in the military. So, we did, and the training went for three months and throughout the period, we never fired one shot. After the third month, we got a pass to see our parents and that same day, we were told they were moving us to the force headquarters and to Gabon for further training since Gabon had recognised Biafra.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> They distributed riffles and bullets to us, but I told my brother, he should not take the arms and ammunition. He asked why, but I said he should follow me. We went back through the gate we came in and the Sentry was there who sensed we wanted to run but we told him that one of the officers left his cloths half way and he sent us to get the cloths. Surprisingly, he agreed, and as soon as we got out of the gate, we disappeared into the bush. The next day, the war ended while every person, sent to war the day we escaped from the headquarters were all killed.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Those who were alive did whatever they wanted like smoking, womanising and all kinds of things. That was the turning point in my life. And since then, every step I took has been a miracle.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <strong>Challenges</strong></div> <div style="text-align: justify;"> Here were several challenges, and even now there is no end to challenges. The first one as a Minister was when I lost my first child. I got married to my wife in 1980 and we had our first daughter in 1982. We went to a crusade in Abeokuta in December 1984, we came back before the Christmas and on the Christmas eve, She developed high fever and early morning of 26th she died. It was a day I was going to preach.</div> <div style="text-align: justify;"> After praying and she did not come to life again, I left her in the room and still went to preach. I did not mention what happened to anyone. As a minister, that is one of the challenges you face.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Another experience was that my immediate younger brother who was the only support I had when I went into a ministry. We were six boys and four girls our parents had. He had passed the high level exams and was to go for Medicine. But my parents did not want him to go as a way of punishing him for supporting my cause as a minister.</div> <div style="text-align: justify;"> They wanted to know if that could make me change my mind. But as God would have it, he still went to the University, passed as a medical doctor, joined the Navy and still joined me in the ministry. He was one of our praise and worship leaders. So, in the late 80s, I was traveling out and I asked him to conduct an interview on my behalf. It was when armed robbery began as an issue then. Some robbers followed him to his car, closed-in on him inside the church compound and asked him to bring the key of the 504 car. I think the military instinct in him made him to resist and started fighting them and he was shot. They took him to one hospital in Akoka, that could not manage the situation, yet did not refer him. I was abroad, I got wind of the situation and I asked that they moved him to a better hospital, but unfortunately, it was late, he died.</div> <div style="text-align: justify;"> It was very devastating to me. But I made up my mind, challenges should not make me reject the call of God. I told myself that the best I could do is to be the best in my calling. There are also challenges of not having enough funds to do the calling of God. For me, if everything you need is already there, then you don’t need God. So, if it is God that provides everything you need, you must depend on God for your needs.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <strong>About Nigeria</strong></div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> I have always said it that God’s hand is upon Nigeria. If not it would have been <em>Nunc dimittis</em> long ago. But God has a prophetic hand upon Nigeria. It is not an accident, irrespective of our different challenges, and contradictions. So, whether the devil likes it or not Nigeria is going to be very great.</div> <div style="text-align: justify;"> <strong>On Buhari’s anti-corruption crusade</strong></div> <div class="wp-caption alignright" id="attachment_378709" style="text-align: justify; width: 422px;"> <a href="http://www.vanguardngr.com/2013/04/botched-akiyesis-wedding-overcomers-church-issue-fresh-statements/mike-okonkwo/" rel="attachment wp-att-378709"><img alt="*Bishop Okonkwo" class="size-full wp-image-378709" height="250" src="http://cdn1.vanguardngr.com/wp-content/uploads/2013/04/412x250xmike-okonkwo.jpg.pagespeed.ic.EzQloMk3bj.jpg" width="412" /></a><div class="wp-caption-text"> *Bishop Okonkwo</div> </div> <div style="text-align: justify;"> Everybody knows that corruption has killed us. It is not only endemic, in fact, the level is that if you are not corrupt, you will not be a good Nigerian. That is the level we have degenerated. And it is unfortunate calling Buhari Mr. Go-slow. How do you want him to come and clear the mess of 16 years in two days? I don’t know why we are never truthful with ourselves. If the only thing Buhari can achieve is just to instil fear of corruption, and all the machinery of government and agencies are working to dissuade corruption, then we would have achieved a lot.</div> <div style="text-align: justify;"> Have you noticed that suddenly, electricity is working? EFCC has come alive? Where have they been all these years? The reason they were not working before was that no one would indict or punish them. I admire ex-President Jonathan so much, but he didn’t have the gut to fight corruption. I will also blame the men of God.</div> <div style="text-align: justify;"> I will say the men of God, failed Jonathan. Because Jonathan was operating like somebody under some spell and we (the men of God) had the responsibility of taken him out of the spell, pray with him even for three days and whatever was holding him would have been removed. But we did not do that. Probably, he had the intention of doing the right thing but forces were against him and don’t forget he was not a matured christian. We would have taken him out and probably we would not be in this mess today.</div> <div style="text-align: justify;"> <strong>On same sex marriage</strong></div> <div style="text-align: justify;"> The church should not be shocked about this because they are the part of the end time event. Don’t also be surprised if other strange things follow. I wont be surprised if bestiality is introduced. I will only be shocked if the church gets involved in it. If nations endorse it, nations don’t go by the Bible. They play politics. Parents must talk to their children and let them know that that is not the right thing.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <strong>On his wife</strong></div> <div style="text-align: justify;"> I don’t think I would have been able to achieve what I have achieved if not for the wonderful wife God has given to me. One of the things that is common to those who are called is that they are not only husbands to their wives, they are husbands and fathers to a lot of people. So, if you have a wife that does not understand this fact or that is possessive, she could destroy your work.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> If everyday we are always fighting at home, with the huge responsibility I have in the church, I don’t know how I would have survived. I thank God for having an understanding wife, as people often come to thank her for something I had done. Again, she has covered a lot of my weaknesses, reaching out to people and places that I was not able to reach out to. She is certainly a huge contributor to the work God has called me.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <strong>Physical exercise and food</strong></div> <div style="text-align: justify;"> I do a little exercise, I don’t do exercise for Olympics. I eat red meat and little carbohydrate. I also swim even though I don’t have a swimming pool in my house. I do that occasionally when I travel. So, it is not about what I eat or how I exercise but the grace of God. And if there is anything I should ask from God more, it is His Grace.</div>

Men of God failed to deliver Jonathan from a spell – Bishop Mike Okonkwo

BISHOP MIKE OKONKWO 70TH BIRTHDAY D r Mike Okonkwo is the presiding Bishop of The Redeemed Evangelical Mission, TREM, with over 160 br...

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Buhari Congratulates Obama at 54

<img alt="2702F02.Barack-Obama.jpg - 2702F02.Barack-Obama.jpg" id="page_content_Content9_oModuleContent_3_img_Banner" src="http://cdn.akamai.thisdaylive.com/0bef99d6-acf5-4e2c-9779-8fa02ba3fcd4/assets/2702F02.Barack-Obama.jpg?maxwidth=400&maxheight=540" /><br /> <br /> <br /> <br /> President of the United States of America, Barack Obama<br /> <br /> President Muhammadu Buhari last Tuesday took out time to send his birthday wishes to the President of the United States of America, Barack Obama.<br /> The Nigerian president took to his Twitter account to wish Obama happy birthday. <br /> <br /> <div style="text-align: justify;"> <br /> “More great years ahead in health, strength and service to humanity.  I can wager that years ahead will be more rewarding for your family, country and humanity. Happy birthday,” the message said.</div> <br /> <br />

Buhari Congratulates Obama at 54

President of the United States of America, Barack Obama President Muhammadu Buhari last Tuesday took out time to send his birthday...

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Court remands two men for allegedly kidnapping teenager‎

<img alt="appeal-court" class="alignleft size-full wp-image-7210" height="240" src="http://newngrguardiannewscom.c.presscdn.com/wp-content/uploads/2015/02/appeal-court.gif" width="320" /><br /> <br /> A MINNA Magistrate’s Court yesterday remanded two men, Abubakar Mohammed and Usman Kwari, in prison custody as they admitted kidnapping a teenager.<br /> <br /> The two were arraigned in court on a two-count charge of criminal conspiracy and kidnapping, contrary to sections 97 and 273 of the Penal Code, the News Agency of Nigeria (NAN) reports.<br /> <br /> The prosecutor, Inspector Alfred Auta, told the court that one Alhaji Aliyu reported the matter at the Tegina Police Station on July 27, 2015. Auta said the complainant alleged that the accused persons conspired and invaded his compound and kidnapped his 16-year-old son. The prosecutor said the accused persons were, however, arrested on their way out of town.<br /> <br /> When the charges were read to them, they pleaded guilty and begged the court for leniency. The prosecutor told the court that investigation into the matter was still ongoing, and asked for an adjournment to enable the police conclude their investigation.<br /> <br /> In her ruling, Magistrate Mariam King ordered the accused persons to be remanded in prison custody and adjourned the case till Aug. 17 for sentencing.<br />

Court remands two men for allegedly kidnapping teenager‎

A MINNA Magistrate’s Court yesterday remanded two men, Abubakar Mohammed and Usman Kwari, in prison custody as they admitted kidnapping a...

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Zenith Bank adopts half-year financial reporting policy

<img alt="zenith bank" class="alignleft size-full wp-image-13843" height="240" src="http://newngrguardiannewscom.c.presscdn.com/wp-content/uploads/2015/03/zenith-bank.jpg" width="320" /><br /> <br /> <div class="addthis_toolbox addthis_default_style addthis_32x32_style"> <a class="addthis_button_facebook addthis_button_preferred_1 at300b" href="http://www.ngrguardiannews.com/2015/08/zenith-bank-adopts-half-year-financial-reporting-policy/#" title="Facebook"><span class="at4-icon aticon-facebook" style="background-color: #305891;"><span class="at_a11y">Share on facebook</span></span></a> <a class="addthis_button_twitter addthis_button_preferred_2 at300b" href="http://www.ngrguardiannews.com/2015/08/zenith-bank-adopts-half-year-financial-reporting-policy/#" title="Tweet"><span class="at4-icon aticon-twitter" style="background-color: #2ca8d2;"><span class="at_a11y">Share on twitter</span></span></a> <a class="addthis_button_email addthis_button_preferred_3 at300b" href="http://www.ngrguardiannews.com/2015/08/zenith-bank-adopts-half-year-financial-reporting-policy/#" target="_blank" title="Email"><span class="at4-icon aticon-email" style="background-color: #738a8d;"><span class="at_a11y">Share on email</span></span></a> <a class="addthis_button_print addthis_button_preferred_4 at300b" href="http://www.ngrguardiannews.com/2015/08/zenith-bank-adopts-half-year-financial-reporting-policy/#" title="Print"><span class="at4-icon aticon-print" style="background-color: #738a8d;"><span class="at_a11y">Share on print</span></span></a> <a class="addthis_button_compact at300m" href="http://www.ngrguardiannews.com/2015/08/zenith-bank-adopts-half-year-financial-reporting-policy/#"><span class="at4-icon aticon-compact" style="background-color: #fc6d4c;"><span class="at_a11y">More Sharing Services</span></span></a> </div> <a href="http://newngrguardiannewscom.c.presscdn.com/wp-content/uploads/2015/03/zenith-bank.jpg"><img alt="zenith bank" class="alignleft size-full wp-image-13843" height="300" src="http://newngrguardiannewscom.c.presscdn.com/wp-content/uploads/2015/03/zenith-bank.jpg" width="400" /></a><br /> <br /> Zenith Bank may have adopted a new financial reporting policy, with the bank set to publish for the first time its audited half year result in the coming days.<br /> <br /> According to sources at the Nigerian Stock Exchange, the bank will henceforth publish audited half-year results. The source confirmed that the bank’s Board of Directors, which met last week, has already approved the audited half-year result which will be forwarded to the Central Bank of Nigeria (CBN) for approval.<br /> <br /> It was gathered that market analysts have welcomed the development and praised the decision of the board. Over the years, Zenith Bank has consistently posted superior performance results. Gross earnings was N403.4 billion for the financial year 2014, profit before tax was N119.80 billion while profit after tax stood at N99.46 billion making it the most profitable bank in the country.<br /> <br /> According to a statement, “the bank’s total asset was N3.76 trillion, with total shareholders’ funds of<br /> N552.64 billion which ranks the bank as the largest in Nigeria and the sixth largest in Africa by shareholders funds. The bank paid dividend of N1.65 per share for the financial year 2014.<br />

Zenith Bank adopts half-year financial reporting policy

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Benue police allegedly kill notorious armed robber

<img alt="Benue state" class="size-full wp-image-23508" height="133" src="http://newngrguardiannewscom.c.presscdn.com/wp-content/uploads/2015/05/BENUE-small.jpg" width="320" /><br /> <br /> <em><strong>Arrest 10 suspected members of the gang </strong></em><br /> THE Benue State Police Command on Tuesday gunned down a notorious armed robber popularly called Chemical and arrested 10 other suspects in his gang.<br /> <br /> The Guardian gathered from police sources that the deceased and his members were said to be among those that had been terrorising the people of Sankera geo-political axis of the state.<br /> <br /> Confirming the incident, the state Police Public Relations Officer, ASP Daniel Ezeani said his men, acting on a tip-off on the criminals’ hideout, trailed them and on sighting the gang, engaged them in a gun duel, killing their leader and arresting 10 others.<br /> <br /> Ezeani said in the course of the action, many other gang members escaped into the bush and were still being trailed by the men of the force.<br /> <br /> The PPRO, who called on members of the public to continue to avail the police with useful information about criminals living around them, further said those arrested were being investigated and would soon be charged to court.<br /> <br /> It would be recalled that last weekend, an armed gang riding on motorcycles stormed a supermarket in Zaki- Biam and spread bullets on people, killing eight while several others were left with various degrees of injury.<br />

Benue police allegedly kill notorious armed robber

Arrest 10 suspected members of the gang  THE Benue State Police Command on Tuesday gunned down a notorious armed robber popularly calle...

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DPR Shuts 23 Private Petroleum Products Depots

<img alt="fuelscarcity" height="202" src="http://www.nigerianmonitor.com/wp-content/uploads/2015/05/fuelscarcity-300x190.jpg" width="320" /><br /> <br /> <div style="background-color: white; color: #474747; font-family: Georgia, sans-serif; font-size: 14px; line-height: 24px; margin-bottom: 16px; padding: 0px;"> The Department of Petroleum Resources (DPR) has shut 23 private petroleum products depots nationwide for selling Premium Motor Spirit (PMS) to marketers above ex-depot price of N77.66 per litre.</div> <div style="background-color: white; color: #474747; font-family: Georgia, sans-serif; font-size: 14px; line-height: 24px; margin-bottom: 16px; padding: 0px;"> This was according to a statement, issued on Sunday by DPR Director, Mr Mordecai Ladan. The DPR said the shutting of the facilities took effect on Friday further adding that the depots were mainly in Lagos except for two in Warri, Delta, and three other in Calabar.</div> <div style="background-color: white; color: #474747; font-family: Georgia, sans-serif; font-size: 14px; line-height: 24px; margin-bottom: 16px; padding: 0px;"> “The clampdown on the private depots followed the report of a special investigation team set up by DPR to uncover some unwholesome practices by the private petroleum products depots following a tip-off,” the DPR Director said.</div> <div style="background-color: white; color: #474747; font-family: Georgia, sans-serif; font-size: 14px; line-height: 24px; margin-bottom: 16px; padding: 0px;"> Speaking further, Ladan said the depots would remain sealed until the some conditions were met by the owners, including payment of two million naira fine and an undertaking that PMS would not be sold to bulk buyers. He also said that all subsequent sales would be at N77.66 per litre as approved by the Federal Government, adding that DPR would monitor the sale of the remaining and subsequent products.</div> <div style="background-color: white; color: #474747; font-family: Georgia, sans-serif; font-size: 14px; line-height: 24px; margin-bottom: 16px; padding: 0px;"> Conssequently, DPR had directed all its offices to ensure that all filling stations sold PMS at government approved price of N87.00 per litre regardless of what depot is supplying the petroleum product.</div>

DPR Shuts 23 Private Petroleum Products Depots

The Department of Petroleum Resources (DPR) has shut 23 private petroleum products depots nationwide for selling Premium Motor Spirit (PM...

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[PHOTOS] Oshiomhole And Wife Visit Wole Soyinka At His Abeokuta Home

<br /> <img alt="oshiomole++Soyinka" height="322" src="http://www.nigerianmonitor.com/wp-content/uploads/2015/08/oshiomole-Soyinka-300x242.png" width="400" /><br /> <br /> <div style="background-color: white; color: #474747; font-family: Georgia, sans-serif; font-size: 14px; line-height: 24px; margin-bottom: 16px; padding: 0px;"> Governor of Edo state, Adams Oshiomhole alongside his beautiful wife Iara Fortes-Oshiomole, on Sunday, paid a cordial visit to Nobel Laureate winner Prof. Wole Soyinka at his home town in Abeokuta, Ogun State.</div> <div style="background-color: white; color: #474747; font-family: Georgia, sans-serif; font-size: 14px; line-height: 24px; margin-bottom: 16px; padding: 0px;"> The Edo first lady , Iara, looking ravishing as always, in a black dress, while the governor rocked  a casual outfit. See another photo of the visit below:</div> <div style="background-color: white; color: #474747; font-family: Georgia, sans-serif; font-size: 14px; line-height: 24px; margin-bottom: 16px; padding: 0px;"> <br /></div> <div style="background-color: white; color: #474747; font-family: Georgia, sans-serif; font-size: 14px; line-height: 24px; margin-bottom: 16px; padding: 0px;"> <img alt="oshiomole++Soyinkaa" src="http://www.nigerianmonitor.com/wp-content/uploads/2015/08/oshiomole-Soyinkaa-300x214.png" /></div>

[PHOTOS] Oshiomhole And Wife Visit Wole Soyinka At His Abeokuta Home

Governor of Edo state, Adams Oshiomhole alongside his beautiful wife Iara Fortes-Oshiomole, on Sunday, paid a cordial visit to Nobel Lau...

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[PHOTOS] Buhari Receives ‘The Great Cross of Benin’ Award In Benin Republic

<img alt="BuhariBenin1" src="http://www.nigerianmonitor.com/wp-content/uploads/2015/08/BuhariBenin1-300x197.png" /><br /> <br /> <div style="background-color: white; color: #474747; font-family: Georgia, sans-serif; font-size: 14px; line-height: 24px; margin-bottom: 16px; padding: 0px;"> President Muhammadu Buhari on Saturday, 1st of August arrived the neighbouring Benin Republic on a one-day trip to draw support for the war against Boko Haram insurgents in the sub-region. During his visit, President Muhammadu Buhari received a ‘Grande Croix Du Benin’ (The Great Cross of Benin) which is the highest honour in Republic of Benin.</div> <div style="background-color: white; color: #474747; font-family: Georgia, sans-serif; font-size: 14px; line-height: 24px; margin-bottom: 16px; padding: 0px;"> Buhari departed the Nnamdi Azikiwe International Airport around 9am on Saturday with Lagos State immediate past Governor, Raji Babatunde Fasola, and other officials. See more photos below:</div> <div style="background-color: white; color: #474747; font-family: Georgia, sans-serif; font-size: 14px; line-height: 24px; margin-bottom: 16px; padding: 0px;"> <br /></div> <div style="background-color: white; color: #474747; font-family: Georgia, sans-serif; font-size: 14px; line-height: 24px; margin-bottom: 16px; padding: 0px;"> <img alt="BuhariBenin" src="http://www.nigerianmonitor.com/wp-content/uploads/2015/08/BuhariBenin-300x202.png" /></div>

[PHOTOS] Buhari Receives ‘The Great Cross of Benin’ Award In Benin Republic

President Muhammadu Buhari on Saturday, 1st of August arrived the neighbouring Benin Republic on a one-day trip to draw support for the w...

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Lagos seals Kanu Nwankwo’s hotel, worship centres

<img alt="ex-Super Eagles player, Kanu Nwankwo" class="attachment-bigstoryimage" height="200" src="http://punch.cdn.ng/wp-content/uploads/2015/08/ex-Super-Eagles-player-Kanu-Nwankwo-360x226.jpg" width="320" /><br /> <br /> <div style="text-align: justify;"> The Lagos State Environmental Protection Agency has sealed a hotel owned by ex-Super Eagles player, Kanu Nwankwo, the Hardley Apartments, on Victoria Island.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The hotel was among other hotels, churches and mosques sealed across the state on Monday over alleged air and noise pollution.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> No fewer than 30 facilities were shut in areas, including Ketu, Ikorodu, Ibeju-Lekki, Victoria Island and Surulere.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> LASEPA said the owners of the facilities had been contacted several times in the last one year, adding that they refused to fully complied with LASEPA’s instructions.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> At a mosque in Ketu ─ Olorunkemi Mosque ─ the leaders claimed to have taken down their speakers as instructed by the agency almost immediately.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> However, the mosque was sealed for allegedly not complying fully with LASEPA’s instruction.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Other places also sealed include the Rain of Power and Miracles Ministry Church, Lekki; Christ Apostolic Church, Lekki; Duckland Hotels and Suites, Ikorodu; and Mela Rossa Club, Victoria Island.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> At the Hardley Apartments, it was noticed that the generators powering the hotel had large exhaust pipes facing the road.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The Director of Enforcement, Kayode Bello, ordered that one of the generators be tested, and it was discovered that it gave off thick gaseous emissions.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Bello said, “Even the sound is going to be more than 45 decibels at night. We want you to comply ─ that is the reason we are here. We have been on this for more than a year.”</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The doors and gates of the hotel were subsequently chained, and plastered with the LASEPA seal.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Later at a press briefing in Ikeja, LASEPA General Manager, Rasheed Shabi said, “The environment belongs to every one of us. Lagosians need to live in peace. A survey was carried out by an international organisation and it was discovered that 60 per cent of Nigerians have hearing problem.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “LASEPA, in the last two to three years, has been conducting surveys on religious houses, and our findings revealed that 95 per cent of them do not have approval to operate in Lagos.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “Most houses and club houses do not have fiscal planning approval. Before you can build any hotel anywhere in the world, there must be an environmental impact assessment.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “Most of the markets we have in Lagos State; we have people using trucks to sell their products with speakers to disturb the peace of Lagosians. Soon, we will tow as many trucks as possible to get them off the streets.”</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Shabi said the owner of the places sealed would sign an undertaking that they would comply with instructions meant to clean up the environment.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “After today, the enforcement unit will go round. Anybody that breaks the seal has violated the Lagos State law. We will then involve the Ministry of Justice,” Shabi added.</div>

Lagos seals Kanu Nwankwo’s hotel, worship centres

The Lagos State Environmental Protection Agency has sealed a hotel owned by ex-Super Eagles player, Kanu Nwankwo, the Hardley Apartment...

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Emeka Offor, Abike Dabiri’s firms, others owe banks N143.81bn

<div style="text-align: justify;"> <img alt="Some directors of debtor firms" class="attachment-bigstoryimage" height="213" src="http://punch.cdn.ng/wp-content/uploads/2015/08/Some-directors-of-debtor-firms-360x240.jpg" width="320" /> </div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> According to Punch, Nigerian Deposit Money Banks on Monday continued with the policy of naming and shaming their delinquent debtors with further publication of the names of firms and their directors whose loans have become non-performing for more than one year.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> While nine banks published the names of the loans defaulters on Monday, four banks released the lists of their chronic debtors, owing a total of N143.81bn, on Tuesday.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The four banks are First Bank of Nigeria Limited, Access Bank Plc, Diamond Bank Plc and Unity Bank Plc.</div> <div style="text-align: justify;"> The banks, which had published the list of their delinquent debtors on Monday were Zenith Bank Plc, Guaranty Trust Bank Plc, Union Bank Plc, Sterling Bank Plc, Skye Bank Plc, Fidelity Bank Plc, Stanbic IBTC Bank, Heritage Bank Limited and Enterprise Bank Limited.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> First Bank, which has its total amount of non-performing loans as N43.72bn, published 92 names of delinquent debtors.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The first five companies on the lender’s list owe a combined sum of N23bn. These are Ajaokuta Steel Company Limited, Starcomm Plc; BGL Securities Limited, where a former Minister of Finance and National Planning, Kalu Idika Kalu, is a director; Shield Petroleum Limited and Fargo Petroleum and Gas Limited.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Shield Petroleum, the number one on the list, owes N6.883bn; while Zurich International Service, the last on the list, owes N26.69m.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Unity Bank also released 260 names of delinquent debtors with a combined NPL figure of N45.52bn.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The list has the companies of some prominent Nigerians. These include Umar Mutallab’s DeanShanger Project Limited, N3.6bn; Senator Ayodele Arise and a former Minister of State for Works, Mr. Dayo Adeyeye’s International Payment Devices Limited, N81.9m; and Prince Adeyanju Olateru-Olagbegi’s Cupid Investment BDC, N90.1m.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Other prominent companies on the list are Ekiti Kete Mass Transit, which owes N991m; Fargo Petroleum and Gas Limited, N2.5bn; Ava Cement Limited, N.8bn; and Plywood Chemical and Accessories, N1.1bn.</div> <div style="text-align: justify;"> Ava Cement topped Unity Bank’s debtors’ list with N9.8bn, while Malcolm Akpokodje owes the least with N20m.</div> <div style="text-align: justify;"> Access Bank Plc published a list of 11 delinquent debtors, with a combined NPL figure of approximately N3.4bn.</div> <div style="text-align: justify;"> Top on the list are Bioka Ventures Limited, which owes N1.15bn, while Derukas International Limited was last on the list with a debt of N56.3m.</div> <div style="text-align: justify;"> Diamond Bank Plc has N47.17bn as its total NPLs, with companies belonging to prominent Nigerians owing sizeable amounts.</div> <div style="text-align: justify;"> These include Sir Emeka Offor’s Global ScanSystem Limited, which the bank says owes N181m; a former Chairman, House of Representatives Committee on the Diaspora, Mrs. Abike Dabiri-Erewa’s Thriller Eneavours, which owes N122m; and a former Delta State Commissioner for Sports Solomon Ogba’s Delta Mega Trend Limited, which owes N89m.</div> <div style="text-align: justify;"> Aside the 13 banks which have published their debtor lists, other banks which will publish theirs this week are Ecobank Nigeria, First City Monument Bank Limited, Standard Chartered Bank, Keystone Bank Limited, United Bank for Africa Plc and Wema Bank Plc.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Investigations by our correspondents on Monday revealed that most of the banks had cut their list of delinquent debtors due to litigation with their customers over disputes arising from loan terms and last-minute renegotiations by some clients.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> A top bank executive, who spoke to one of our correspondents under the condition of anonymity, said, “Some of the banks have to remove the list of some clients due to issues that border on litigation.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “Some names were removed at the last minute after the affected customers came to renegotiate with us. Some banks have had to cut the names on their debtors’ list by at least 50 per cent.”</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Officials of banks, who spoke to our correspondents, linked the relatively high figure of the NPLs in some banks to inside connivance with customers, lingering margin loans and huge oil and gas-related loans.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> According to them, customer relationship managers in some of the banks connived with the customers to obtain huge loans that eventually became bad.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> They also said that long-standing margin loans in some banks were responsible for the high figure.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “A huge chunk of the loans are oil and gas related. The drop in oil prices has also worsened the situation for some oil and gas companies. They borrowed relatively large amounts of money, which later became bad loans,” an official of a tier-1 bank told our correspondent.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Meanwhile, the Asset Management Corporation of Nigeria will publish the list of its debtors early next week if they fail to regularise the terms of their loans with the agency.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The spokesperson for AMCON, Mr. Kayode Lambo, who confirmed this on Monday, said companies which failed to regularise the terms of their loans with the agency would have their names published.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “As many companies who have not been servicing their loans will have their names published,” he added.</div> <div style="text-align: justify;"> The names of firms belonging to prominent Nigerians who have not been servicing their loans may appear on the list.</div> <div style="text-align: justify;"> In 2009, the Federal Government spent about N5tn to buy the NPLs from banks to save them from imminent collapse.</div> <div style="text-align: justify;"> AMCON, the government agency created after the 2009 banking crisis, was the special purpose vehicle used to acquire the NPLs from the banking sector.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The Central Bank of Nigeria had on April 22, 2015 directed the banks, discount houses and AMCON to publish the list of delinquent debtors from August 1.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> They are to publish the names in at least three national newspapers on a quarterly basis.</div> <div style="text-align: justify;"> In line with the directive, the banks gave the chronic debtors a three-month grace period, which expired on July 31.</div> <div style="text-align: justify;"> The Director, Banking Supervision, CBN, Mrs. ‘Tokunbo Martins, had in a circular dated April 22, 2015, said, “In order to ensure that the industry NPL ratio does not exceed the prudential limit of five per cent and to improve the credit culture in the banking industry, banks and discount houses are directed to observe prudent credit underwriting and monitoring standards.”</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The debtors are those whose accounts have been classified as lost and include persons, entities, directors, subsidiaries and other related parties, according to the central bank.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The central bank had stated that delinquent debtors in the category described above would be blacklisted and “banned from participating in the Nigerian foreign exchange market and in the Nigerian government securities market.”</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <em>The PUNCH</em> had on March 15, 2015 reported that the volume of the NPLs in the Nigerian banking industry was set to rise further on the back of the devaluation of the naira amid weak global crude oil prices.</div> <div style="text-align: justify;"> Global rating agency, Fitch Ratings, had in February, after the second round of devaluation of the naira, predicted that the banks’ non-performing loans would rise above the CBN’s five per cent limit by the end of this year, but below 10 per cent.</div> <div style="text-align: justify;"> <br /></div>

Emeka Offor, Abike Dabiri’s firms, others owe banks N143.81bn

  According to Punch, Nigerian Deposit Money Banks on Monday continued with the policy of naming and shaming their delinquent debtors ...

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Nigeria army captures Boko Haram commander, rescues 178 abductees

<div style="text-align: justify;"> The Nigerian military said Sunday it had   rescued 178 people from the Islamist militant group Boko Haram in northern Borno state.</div> <div style="text-align: justify;"> According to a BBC report, the army said in a statement  that 101 of those freed were children and a further 67 were women.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The statement did not say if the girls abducted from a school in Chibok in April 2014 were among them.</div> <div style="text-align: justify;"> The military also said that a Boko Haram commander was captured and several camps were cleared.</div> <div style="text-align: justify;"> Boko Haram has killed some 5,500 civilians in Nigeria since 2014.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> More than 200 of the Chibok girls are still missing, more than a year after they were kidnapped from their school in northern Nigeria. Many of those seized are Christians.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Last October, the government said it had secured an agreement for a ceasefire and the release of the girls </div> <div style="text-align: justify;"> taken from Chibok, but Boko Haram subsequently denied this. Parents of the Chibok girls have been campaigning for their release for more than a year</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The abduction of the girls in Chibok sparked global outrage with many joining a campaign online to free them using the hashtag #BringBackOurGirls.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Several nations including the US and China vowed to help find them and there have been reported sightings of the girls, but none has been found to date.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> At least 2,000 women and girls abducted by Boko Haram since the start of 2014, according to the human rights organisation Amnesty International.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Boko Haram’s insurgency, and the army campaign against it, have killed more than 15,500 people since 2012. The violence has recently spread to neighbouring Niger, Chad and Cameroon. Boko Haram at a glance </div> <ul class="story-body__unordered-list" style="text-align: justify;"> <li class="story-body__list-item">Founded in 2002, initially focused on opposing Western-style education – Boko Haram means “Western education is forbidden” in the Hausa language</li> <li class="story-body__list-item">Launched military operations in 2009</li> <li class="story-body__list-item">Thousands killed, mostly in north-eastern Nigeria, abducted hundreds, including at least 200 schoolgirls</li> <li class="story-body__list-item">Joined Islamic State, now calls itself “West African province”</li> <li class="story-body__list-item">Seized large area in north-east, where it declared caliphate</li> <li class="story-body__list-item">Regional force has retaken most territory this year</li> </ul> <div style="text-align: justify;"> <br /></div>

Nigeria army captures Boko Haram commander, rescues 178 abductees

The Nigerian military said Sunday it had   rescued 178 people from the Islamist militant group Boko Haram in northern Borno state. Accor...

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Mixed Reactions Trail Banks’ Rejection of Dollar Deposits

<img alt="130715F-Godwin-Emefiele.jpg - 130715F-Godwin-Emefiele.jpg" height="184" id="page_content_Content9_oModuleContent_2_img_Banner" src="http://cdn.akamai.thisdaylive.com/0bef99d6-acf5-4e2c-9779-8fa02ba3fcd4/assets/130715F-Godwin-Emefiele.jpg?maxwidth=400&maxheight=540" width="320" /><br /> <br /> <strong>No dollar access imperils retailers, spurs inflation</strong> <br /> <div style="text-align: justify;"> Obinna Chima 
with agency report    
<br /> Some manufacturers and financial market analysts have expressed divergent opinions on the Central Bank of Nigeria's (CBN) foreign exchange policy as well as the decision by commercial banks to reject foreign currency deposits.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> While manufacturers hold the view that the policy has stifled business and discouraged entrepreneurship in the country, market analysts stressed that the measure aimed at strengthening the naira was in order.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Meanwhile, the naira continued its rebound on the parallel market day where it closed at N210 to a dollar, higher than the N220 to a dollar at the weekend.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The gain recorded by the nation's currency was largely driven by excess dollar supply in the market as banks continued to reject dollar deposits monday.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Consequently, several bureau de change (BDC) operators and foreign currency account holders have found it difficult to pay in foreign currency into their bank accounts.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Prior to this, CBN had restricted importers of 41 items from accessing forex at the official forex market. The policy, according to the central bank, was designed to facilitate the resuscitation of domestic industries and improve employment generation.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The CBN Governor, Mr. Godwin Emefiele, while speaking in an interview with THISDAY said the number of items on the list might be increased.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> But reacting to the measures in the forex market, the Director-General, Lagos Chamber of Commerce and Industry (LCCI), Mr. Muda Yusuf, stated that as a result of the restriction of some items from the official forex market, “a lot of manufacturers are stuck”.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “Many of them that ordered goods had to stop the goods from coming in and most of them cannot get raw materials. Generally, the whole forex policy is killing businesses,” Yusuf added in a chat with THISDAY monday.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Also commenting on the suspension of foreign currency deposits, the LCCI boss said it was a “manifestation of the bigger problem of the way the market is managed”.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “These are just fire-fighting measures,” he said.</div> <div style="text-align: justify;"> However, Chief Executive Officer of Financial Derivatives Company (FDC), Mr. Bismarck Rewane, expressed support for the CBN’s forex policy, saying the measures taken by the central bank were in order.</div> <div style="text-align: justify;"> “Monetary policies always go after fiscal policies and what the CBN is doing is right. Right now, the monetary policy has to continue what it is doing until fiscal policy becomes clear,”  Rewane explained.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Also commenting on the suspension of foreign currency deposits by the banks, he saw it as a temporary measure, saying, however, that it would not address the fundamental problem of the actual pricing of the naira.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> LCCI President, Mr. Remi Bello, added that the economy at this time needed to be stimulated, not constricted further.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “The stock market has been bearish for the past couple of months; output growth in the economy decelerated to 3.9 per cent in the first quarter from 5.9 per cent in the previous quarter; profit margins are on the decline across sectors; and purchasing power remains weak as unemployment continues to rise. So this is not the time to keep the economy in a tightening mode,” he said.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Emefiele explained in the interview that the decision by the banks to stop accepting foreign currency in their vaults was not taken by the CBN, but that the central bank was in support of the idea.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Yet, the central bank's foreign exchange policy is having unintended consequences on the economy and has unravelled the CBN’s policy on price control.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> For instance, a report by Bloomberg monday focused on Mojeed Jamiu, an entrepreneur, who has been forced to cut jobs and raise prices to prevent his furniture and clothing store in Lagos from closing after Emefiele restricted foreign currency supply for some imports.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Due to a dearth of local manufacturing, companies like Jamiu’s FM Best Bargain Limited have no choice but to import goods.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “One must survive,” the 47-year-old father of three said in low tone in one of his show rooms in a four-story </div> <div style="text-align: justify;"> building on a busy road in the Lagos district of Ogba.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “Businesses will close shop if you don’t know where to get the next dollars and at what cost. Jobs that were done by two people, we now engage one person,” he added.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Emefiele’s push to cut imports is clashing with his mandate to keep prices in check as the economy struggles to cope with a 50 per cent fall in Brent crude prices over the past year.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Inflation accelerated 9.2 per cent in June, quickening for the seventh straight month to take the rate beyond the central bank’s target band of 6 per cent to 9 per cent.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> With 21 per cent of all Nigeria’s imports affected by the restrictions, the pace of price increases will probably remain above the policy maker’s goal for the rest of the year, according to Standard Bank Group Ltd., Africa’s biggest lender.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Companies being hurt by the policy can start producing the goods they are selling, Ibrahim Mu’azu, a central bank spokesman, said by phone from the capital, Abuja. “I don’t think the restriction will cause inflation or unemployment.”</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Domestic businesses don’t yet have the capacity to produce those goods and the central bank’s decision will cause unemployment, said Yusuf of LCCI.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Nigeria’s unemployment rate rose to 8.2 per cent in the second quarter from 7.5 per cent in the first quarter, the nation’s statistics bureau said in statement on its Twitter account. The chamber is planning to carry out a study of the impact on its members, Yusuf said.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Nigeria’s manufacturing industry contracted by 0.7 per cent in the first quarter of 2015, after expanding 15.4 per cent in the same quarter a year earlier. While the Lagos chamber has met with central bank officials, who promised to review the policy, there hasn’t been any change.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The regulator said it is waiting for President Muhammadu Buhari to detail his economic plans. But that is on hold until September, when Buhari said he would appoint his cabinet.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> An official devaluation of the naira is inevitable and it’s best for Nigeria to take the hit now, Yusuf said.</div> <div style="text-align: justify;"> “It’s better to allow the naira to find its level so that all of us can have peace,” he said.</div> <br /> Sources: <a href="http://www.thisdaylive.com/articles/mixed-reactions-trail-banks-rejection-of-dollar-deposits/216546/">ThisDaylive</a>

Mixed Reactions Trail Banks’ Rejection of Dollar Deposits

No dollar access imperils retailers, spurs inflation Obinna Chima 
with agency report    
 Some manufacturers and financial mark...

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Corruption: Buhari descends on civil servants

<div style="text-align: justify;"> <strong>According to Vanguard </strong></div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <strong>A</strong><strong>BUJA</strong>— Disturbed by the rot and thriving corruption in the civil service, which has cost the country trillions of naira, President Muhammadu Buhari has taken his anti-graft war to the sector.</div> <div style="text-align: justify;"> He has ordered that all outstanding audit queries which had piled up over the years be resolved within the next 30 days.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Confirming the presidential directive, Senior Special Assistant to the President on Media & Publicity, Malam Garba Shehu, said the unanswered audit queries sounded unsavoury to the President who, on hearing it, expressed his displeasure.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> An audit query is the request for an explanation by the Auditor-General of the Federation over improprieties discovered in the Accountant-General of the Federation’s report. The report is done quarterly.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> By law (Civil Services Re-organization Decree No. 43 of 1988), the Office of the Accountant-General of the Federation supervises the accounts of federal</div> <div class="wp-caption alignleft" id="attachment_541282" style="text-align: justify; width: 422px;"> <a href="http://www.vanguardngr.com/wp-content/uploads/2015/07/Buhari-p.jpg"><img alt="President Muhammadu Buhari " class="size-full wp-image-541282" height="250" src="http://cdn1.vanguardngr.com/wp-content/uploads/2015/07/Buhari-p.jpg.pagespeed.ce.h58bo9h5p2.jpg" width="412" /></a><div class="wp-caption-text"> President Muhammadu Buhari</div> </div> <div style="text-align: justify;"> and extra-ministerial department; collates, presents and publishes statutory financial statements of account required by the Minister of Finance; conducts routine and in-depth inspection of the books of accounts of federal ministries and extra-ministerial department to ensure compliance with rules, regulations, policies, and internal audit guides; investigates cases of fraud, loss of funds, assets and store items and other financial malpractices in ministries/extra-ministerial department; ensures revenue monitoring and accounting; provides a system for the monitoring of the accounts of all Ministries, Departments and Agencies and ensures timely submission of all financial statements to the Auditor-General of the Federation.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> If the Auditor-General is dissatisfied with the reports, he issues queries. Audit queries are also used to check fraud as the ‘ghost workers’ phenomenon.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Over time, an avalanche of these queries have not been answered, a development that has created a huge tunnel for graft through unaccounted expenditures, misappropriation and miscalculation of funds running into trillions of naira. The measure is used to check unspent budgets, which are expected to be returned to the treasury.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Following the disappointing manner the queries were handled, President Buhari directed  that any civil servant who failed to answer audit queries within 24 hours, henceforth, would face a disciplinary action.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> These are part of the marching orders Buhari gave the Auditor-General of the Federation, <em>Vanguard </em>gathered.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The orders followed the discovery of a plethora of unanswered audit queries which spanned a long period of time, running into years, under previous administrations.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <strong>Era of impunity</strong><strong> is gone</strong></div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Garba Shehu stated that President Buhari was irrevocably committed to tackling administrative and bureaucratic corruption head-on.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> He said: “The era of impunity is gone. The President is taking the war on corruption to the civil service. He is not happy that standard operating procedures and financial regulations are no longer being observed as they should.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “President Buhari will ensure that public officials and civil servants in the service of the Federal Government pay a heavy price from now on for violating financial regulations or disregarding audit queries.”</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> He added that the President was determined to put an end to the present situation in which, rather than respond to legitimate audit queries, violators of financial regulations in the Federal. Government resort to threatening, bribing or mounting other forms of social pressures on auditors.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “On his watch, President Buhari wants to see firm action against those who violate extant financial regulations, not the prevarications and shenanigans that went on in the past in the form of endless probes and public inquiries,” the Presidential spokesman said.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <strong>Probe Siemens, Halliburton, other scandals, Igbo leaders urge Buhari</strong></div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> This came as Igbo leaders on the plank of Igbo Leaders of Thought, ILT, led by Professor Ben Nwabueze (SAN)  urged President Buhari to extend his probe of past administrations to 1999.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> However, the call to extend the probe beyond the Dr Goodluck Jonathan’s administration was opposed by former Minister of State for Education, Olorogun Kenneth Gbagi, who argued that late President Umaru Musa Yar’Adua and Jonathan should have probed the former President Olusegun Obasanjo regime, if they had any issues with his government.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Commending President Buhari over his anti-graft war and calling on all Nigerians to support the crusade in the interest of the country, the Igbo leaders, however, said that making the probe extensive will lead to a “change that will endure.”</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> In a statement by Evangelist Elliot Uko, Deputy Secretary, ILT, founder, Igbo Youth Movement, IYM, and Leader, South-East Democratic Coalition, SEDC, the Igbo leaders said: ‘’The promise of change to the ugly manner things have been done in our country for decades, inspires hope among the citizenry.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “Talk about probe, prosecution and the eventual return of looted funds to the coffers of government is a wonderful, exciting and a most welcome idea.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “President Buhari’s corrupt-free image goes a long way here to inspire hope and confidence that this exercise will help send the necessary signal to public officials, that the era of mindless looting and siphoning of public funds is over.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “We support the probe, prosecution of looters and return of all stolen common wealth of Nigerians over the years. We also ask our countrymen to support this needful and timely exercise.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “But we have two worries: Firstly, we plead that the exercise be totally free of political vendetta as that would taint the credibility of the whole exercise. Secondly, we wonder why the exercise would be restricted only to the immediate past regime. Does that mean that the notorious Siemens and Halliburton bribery scandals have been rested forever?</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “Are we saying that the glaring corrupt cases of 1999-2007 are closed cases? Is it morally right to target only the last regime while exonerating the 1999-2007 sleaze-infested regime? Will the deliberate isolation of the last regime alone for probe not give the impression of a political vendetta? Why is it so compelling to look away and leave out the 1999-2007 era?</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “We conclude by pleading with our countrymen to support the probe because corruption remains one of the four great problems facing our country. Others are ethnicity and nepotism, religious bigotry and the mother of all problems: unjust political structure.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “It is important we thoughtfully appraise the impact of singling out only one regime for probe and prosecution while giving others a clean bill of health.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “The exercise must not be seen as political and divisive, as the essence and noble goal will be lost. If the change we profess is real, then false starts must be avoided.’’</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <strong>Buhari has no </strong><strong>business probing Obasanjo’s regime</strong></div> <div style="text-align: justify;"> <em>—Gbagi</em></div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Opposing the extension of the probe to Obasanjo’s administration, Gbagi said: “Whatever was done in 1999, there was a president before this president. It was the duty of Jonathan to have probed the government that he took over from. Buhari has no business going to a government which is not back-to-back with him. The Jonathan administration is back-to-back with him.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “Whatever negativity there was with regards to the Jonathan’s government will have effect on the Buhari government. Buhari cannot be going to the 1999 regime. What concerns him by law and every fact of life is the Jonathan’s government.”</div>

Corruption: Buhari descends on civil servants

According to Vanguard  A BUJA — Disturbed by the rot and thriving corruption in the civil service, which has cost the country trillio...

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Three feared killed as OPC members clash in Kwara

<img alt="Leader of a faction of the Odua People’s Congress, Gani Adams" class="attachment-bigstoryimage" height="289" src="http://punch.cdn.ng/wp-content/uploads/2013/01/Gani-Adams.jpg" width="250" /><br /> <br /> <div style="text-align: justify;"> No fewer than three people were feared dead on Sunday at Agbamu in Irepodun Local Government Area of Kwara State, following a clash among members of the Oodua Peoples’ Congress.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> An eyewitness, who pleaded anonymity, said no fewer than six people, sustained varying degrees of injuries during the fracas. He added that the injured victims were rushed to some undisclosed private hospitals in the council, where they were receiving medical treatment.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The source said that the trouble erupted when some OPC members, who were allegedly expelled recently from the group, stormed St. Paul Anglican Primary School, Agbamu, where the 10th anniversary of the coronation of Arigbamu of Agbamu, Oba Samuel Dare, was being held, to protest their expulsion before the OPC National Coordinator, Mr. Gani Adams.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The protest was said not to have gone down well with some members of   the state chapter of the OPC, which later snowballed into a violent clash among the OPC members.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> A policeman at Agbamu Police Post, who pleaded anonymity because he was not authorised to speak to journalists on the issue, confirmed to journalists that three people died.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> He added that many victims sustained injuries during the clash.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> He said, “We never envisaged this kind of security breach; hence, we would have called for reinforcement from other neighbouring police stations. By virtues of their large numbers, they held everybody into ransom.</div> <div style="text-align: justify;"> “I can confirm to you that three people were shot dead while several others were seriously injured. The injured ones have been taken to nearby private hospitals.”</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The Police Public Relations Officer, Kwara State Command, Mr. Ajayi Okasanmi, said he was yet to be briefed of the clash.</div>

Three feared killed as OPC members clash in Kwara

No fewer than three people were feared dead on Sunday at Agbamu in Irepodun Local Government Area of Kwara State, following a clash amo...

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Oil thieves: JTF arrests 18 suspects, destroys 31 illegal refineries

<div style="text-align: justify;"> The Joint Task Force (JTF) in the Niger Delta, “Operation Pulo Shield” says that it arrests 18 suspected oil thieves and destroyed 31 illegal oil refineries in multiple raids in July.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> This is contained in a statement issued by Lt.-Col. Isa Ado, Media Coordinator of the JTF, in Yenagoa on Sunday.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> It stated that troops of JTF deployed at Iguododo community and Chanomi Escravos in Orhionmwon and Warri South West Local Government Areas of Edo and Delta discovered and destroyed 15 illegal refining camps.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The statement stated that the suspects operated with four Cotonou boats, seven plastic reservoirs, 34 drums, 21 surface tanks filled with illegally refined Automated Gas Oil.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> It stated that other items discovered and destroyed were 21 cooking ovens and eight pumping machines.</div> <div style="text-align: justify;"> The statement stated that the suspects fled on sighting the troops.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “The squad also arrested 16 suspects for other criminal offences ranging from kidnapping, armed robbery, sea piracy, cultism and pipeline vandalism.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “Items recovered from them include locally made gun with live rounds of ammunition and axe. The suspects are in custody of the JTF for preliminary investigation before handing them over to prosecuting agency,” it stated.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The statement stated that troops deployed at Ughelli in Delta following a distress call from Afiesere community arrested a notorious armed robbery suspect with a locally made short gun and three live cartridges.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> It stated that the suspect, his recovered gun and cartridges, were handed over to prosecuting agency while a stolen motorcycle recovered from him was handed over to the owner.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The statement stated that JTF in conjunction with Southern Ijaw Oil and Gas Task Force destroyed 16 illegal bunkering sites along Obi creek, Gbenekrukru, Oloma and Ogbonga waterways of Bayelsa and Rivers, respectively.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> It stated that the sites were destroyed along with metal tanks and Cotonou boats filled with stolen crude oil.</div> <div style="text-align: justify;"> The statement stated that no arrest was made as the operators of the illicit act fled on sighting JTF troops.</div> <div style="text-align: justify;"> It stated that a notorious and wanted criminal in Oboburu community of Ahoada West of Rivers had been arrested and taken into JTF custody for preliminary investigation.</div> <div style="text-align: justify;"> The statement stated that items recovered from the suspect included one locally made short gun, Tecno phone and national identity card.</div>

Oil thieves: JTF arrests 18 suspects, destroys 31 illegal refineries

The Joint Task Force (JTF) in the Niger Delta, “Operation Pulo Shield” says that it arrests 18 suspected oil thieves and destroyed 31 ill...

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No individual is leader of Yoruba: Obasanjo

<div style="text-align: justify;"> Former President Olusegun Obasanjo has said that no individual can be regarded as the leader of the Yoruba.</div> <div style="text-align: justify;"> Obasanjo stated this in his book, titled, “My Watch: Political and Public Affairs,” where he addressed what he called his “Nigerianness and Yorubanness.”</div> <div style="text-align: justify;"> In chapter 31, titled, “Campaigns and Elections,” Obasanjo said Nigeria did not need tribal barons as leaders.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> He added that there was nothing like Yoruba leadership in Yoruba land.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The former President said, “Just as there was no single oba having sovereignty over the whole of Yorubaland, there was no individual as leader of the Yorubas in Yorubaland. As it was then, it remains till now.”</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> He noted that even among the Yoruba obas “there is equality, but mutual respect.”</div> <div style="text-align: justify;"> Backing his claim with a saying, “no crown is subordinate to another,” the former President said cities and areas were normally of different sizes.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> He recalled that in the past, obas never saw one another, but sent messages through emissaries.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> According to him, it was the colonialists that made the obas to see one another face-to-face. The colonialists, he said, went further to rank Yoruba traditional rulers.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Obasanjo noted that in the North, the majority of emirs accepted the Sultan of Sokoto as the direct descendant of Usman Dan Fodio.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> He said the Sultan was accepted as the leader among Hausa/Fulani traditional rulers.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “The Yorubas did not have such a clear-cut and accepted hierarchy. Every oba maintains sovereignty over his domain,” he added.</div> <div style="text-align: justify;"> Obasanjo explained that 'baales' (chiefs) were appointed by obas within their domains.</div> <div style="text-align: justify;"> The former president said the supporters of the first Premier of the Western Region, the late Chief Obafemi Awolowo, “fixed” the title of Yoruba leader on the late sage during the Civil War.</div> <div style="text-align: justify;"> He recalled that during the war, different ethnic groups met separately to consider positions and issues for the future of Nigeria.</div> <div style="text-align: justify;"> According to him, Awolowo presided over the meeting of the Yorubas in Ibadan.</div> <div style="text-align: justify;"> “In the course (of the meeting), Chief Awolowo presided. His supporters then fixed the title of Yoruba leader upon him,” he stated.</div> <div style="text-align: justify;"> Obasanjo said that some people, including Chief Adisa Akinloye, did not accept Awolowo as the leader of the Yoruba.</div> <div style="text-align: justify;"> Obasanjo said that after he successfully ended the Civil War, some people began to extol his “Yorubanness.”</div> <div style="text-align: justify;"> “I did not encourage this. 'My Yorubaness' and 'my Nigerianness' must go pari passu, and one must not stand in the way of the other,” he stated.</div> <div style="text-align: justify;"> Explaining the relationship between the two, Obasanjo stated that his parents were from Owu in Abeokuta.</div> <div style="text-align: justify;"> He stated, “I bear Owu tribal marks. And better or worse still, I speak English with my Owu dialect. I have always maintained and felt proud of my 'Owunness', 'Yorubannes' and 'Nigerianness' in that order.</div> <div style="text-align: justify;"> “They are all parts of my cherished identity. But I have always refused and I will always refuse to be constrained, diminished or reduced to the level of Yoruba leadership.</div> <div style="text-align: justify;"> “Without being immodest, I am a national leader, an African leader and a world leader in my own way.”</div> <div style="text-align: justify;"> The former President said that Nigeria needed nationalists, not tribal leaders.</div> <div style="text-align: justify;"> He stated, “I strongly believe that Nigeria needs nationalists to propel it forward. Myopic tribal barons and tendencies will not take us too far.”</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Obasanjo said that Nigeria was inadvertently deprived of nationalists as leaders at independence.</div> <div style="text-align: justify;"> “Other countries like Tanzania, Kenya, Zambia, Ghana, Cote d'Ivoire, Mali, Senegal, Cameroon, to mention a few, were not so deprived,” he noted.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> He expressed the hope that Nigeria could still regain what it lost at independence.</div> <div style="text-align: justify;"> Obasanjo further said, “If a person is born in the Yoruba, Igbo, Nupe tribes, it is important that he tries and grows up as a Nigerian with total commitment to Nigeria.”</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> This, he explained, was a sure way “to make Nigeria stable, secure, developed and great.”</div> <div style="text-align: justify;"> He said that the misapplication of personal and tribal interests was the bane of political stability and rectitude in most African countries.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> “I have always believed that the interest of any Nigerian tribe can best be met and served when the national interests are served and not outside it,” he added.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The Nigerian leader said that where the need arose, in the interest of justice and fairness, he had spoken and acted on behalf of the Yoruba.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> He stated, “I have done so, but not against the overall Nigerian interests or against the interest of any other groups for that matter.”</div>

No individual is leader of Yoruba: Obasanjo

Former President Olusegun Obasanjo has said that no individual can be regarded as the leader of the Yoruba. Obasanjo stated this in his ...

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Polio: Qatar Bans Nigerian Travellers Without Proof Of Vaccination

<img alt="" border="0" height="176" src="http://img.thenigerianvoice.com/story.aspx?img=XGltYWdlc1xjb250ZW50XGg0MW9nczZmZXlfcWF0YXIucG5nfDY3MHwzNzB8OC8zLzIwMTU=" width="320" /><br /> <br /> AN FRANCISCO, August 02, (THEWILL) – Nigerian travellers who do not possess a valid polio vaccination certificate will not be allowed into Qatar, the oil-rich Arab nation has declared.<br /> <br /> Nigeria's Federal Capital Territory Administration in a statement said the Department of State Service (DSS) drew its attention to a report that Qatari authorities had resolved to ban all Nigerian citizens travelling to the country without valid certificate of vaccination against polio.<br /> <br /> The report said the ban was a precautionary measure to guide against the spread of the disease in that country.<br /> <br /> THEWILL recalls that Nigeria did not record a single case of polio in the last one year.<br /> “In view of the above, John Obinna Chukwu, FCT permanent secretary, wishes to intimate all stakeholders and intending travellers, particularly those resident in the FCT on the need to obtain duly signed and stamped yellow book on polio and other communicable diseases,” a statement issued by the FCT administration on Sunday said.<br /> <br /> “Chukwu reiterated that obtaining of this yellow book on polio and other communicable diseases is very necessary to avoid embarrassment at the port of entry into the country.”<br />

Polio: Qatar Bans Nigerian Travellers Without Proof Of Vaccination

AN FRANCISCO, August 02, (THEWILL) – Nigerian travellers who do not possess a valid polio vaccination certificate will not be allowed int...

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Saraki seeks Emir’s help on Buhari

<img alt="Senate President Bukola Saraki" class="attachment-bigstoryimage" height="250" src="http://punch.cdn.ng/wp-content/uploads/2015/08/Senate-President-Bukola-Saraki-360x225.jpg" width="400" /><br /> <br /> <div style="text-align: justify;"> According to Punch new  </div> <div style="text-align: justify;"> In his efforts to make peace with the Presidency over its distaste on the composition of the senate leadership, Senate President Bukola Saraki, has resorted to seeking the assistance of emirs and traditional rulers, <em>SUNDAY PUNCH</em> has learnt.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> In realising this objective, the senate president, has sought the help of the Emir of his home town, Ilorin, Kwara State, Alhaji Ibrahim Sulu-Gambari, an aide of the emir told our correspondent.\</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> President Buhari, since the inauguration of the 8th Senate on June 9, has reportedly been shunning Saraki whose emergence and that of his deputy, Ike Ekweremadu of the Peoples Democratic Party did not go down well with the leadership of the All Progressives Congress.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> According to the emir’s aide who spoke on condition of anonymity, the senate president has requested some prominent traditional rulers in the state led by Sulu-Gambari, who is also the Chairman, Kwara State Council of Traditional Rulers to intercede on his behalf with Buhari.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> It was gathered that the monarchs had wanted to meet with Buhari but could not as a result of the President’s visit to the United States and his recent visit to Cameroon to seek for regional collaboration against Boko Haram.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The aide also told our correspondent that this would not be the first time Sulu-Gambari had interceded on behalf of Saraki concerning the senate presidency.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> According to him, the Emir of Ilorin before the emergence of Saraki as the Senate President had sent a team of emissaries to the National Leader of the APC, Asiwaju Bola Tinubu, with a view to getting the former Lagos State governor soften on his stand against Saraki’s ambition to occupy the exalted position.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> He said Saraki is now more worried with the resolution of the leadership tussle in the House of Representatives, where the Speaker, Alhaji Yakubu Dogora, after meetings with Buhari and other APC stakeholders acceded to the party’s decision and announced Mr. Femi Gbajabiamila as the House Leader.</div> <div style="text-align: justify;"> The aide added that Saraki was in Ilorin at the weekend, adding that the Senate President would continue with his mobilisation for prominent stakeholders to smoothen the relationship between him and Buhari.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> But in a telephone interview with our correspondent, the spokesperson for the Emir of Ilorin, Alhaji Solihu Mohammed, said though he could not confirm Sulu-Gambari’s mediatory role between Buhari and Saraki, the Emir had been playing unifying roles for the sustenance of the nation’s democracy.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Mohammed said, “I am not aware that Saraki has approached the emir to smoothen relationship with the senate president and the president of the country.”</div>

Saraki seeks Emir’s help on Buhari

According to Punch new  In his efforts to make peace with the Presidency over its distaste on the composition of the senate leadershi...

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