The Glass House Head of Protocol, Ibrahim Abubakar was shot dead by armed robbers in his house in Abuja in the early hours of today, Wednesday, January 6.
Wednesday, January 6, 2016
#Exclusive: Goods Worth Millions Destroyed as Lagos Govt. Demolishes Oshodi Market (Photos)
The popular Oshodi market in the Lagos metropolis is currently been demolished by the State government as millions of Naira worth of goods is been destroyed. We bring you the exclusive photos from the scene.
Lagos residents, traders and shop owners woke up this morning to witness yet another massive demolition at the popular Oshodi market in one of Africa's most commercial city.
Online reports revealed that the Lagos State Government, yesterday shut down the market within the notorious loop of Oshodi, aimed at addressing the security challenges in the axis.
Banks to Massively Sack Staff in Second Quarter - Rewane
The looming economic crisis rocking Nigeria due to the fall in the price of crude oil in the international market which is the mainstay of the Nigerian economy, may persist longer, says economic expert.
Amid a worsening business environment, Deposit Money Banks (DMBs) may, “commence massive staff retrenchment in Q2 2016”, Managing Director, Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has predicted.
The influential economist, who made this forecast in his firm’s projection for 2016, also stated that State governments will retrench a significant number of workers in the first quarter of this year.
He, however, predicted that, “There will be massive civil works and construction (of roads, bridges, railways) in 2016 (and) oil prices will recover to $55pb by Q2’2016.” Rewane further forecast that, the benchmark interest rate-the Monetary Policy Rate (MPR)- will be reduced to 10per cent per annum while the Cash Reserve Ratio (CRR) to 15per cent.”
According to him, “Accommodative monetary policy- lower interest rate and increase liquidity -and expansionary fiscal policy- bailout payment and N6trillion proposed budget will reflate the economy.”
Other predictions made by the FDC boss include that,“Inflation will spike to 11per cent in Q1’2016 before falling to 9per cent in Q3’2016; official rate of the naira will depreciate to N220/$ (and) parallel market rate will appreciate to N235/$.”
The influential economist, who made this forecast in his firm’s projection for 2016, also stated that State governments will retrench a significant number of workers in the first quarter of this year.
He, however, predicted that, “There will be massive civil works and construction (of roads, bridges, railways) in 2016 (and) oil prices will recover to $55pb by Q2’2016.” Rewane further forecast that, the benchmark interest rate-the Monetary Policy Rate (MPR)- will be reduced to 10per cent per annum while the Cash Reserve Ratio (CRR) to 15per cent.”
According to him, “Accommodative monetary policy- lower interest rate and increase liquidity -and expansionary fiscal policy- bailout payment and N6trillion proposed budget will reflate the economy.”
Other predictions made by the FDC boss include that,“Inflation will spike to 11per cent in Q1’2016 before falling to 9per cent in Q3’2016; official rate of the naira will depreciate to N220/$ (and) parallel market rate will appreciate to N235/$.”
Industry sources said that although 2015 was tough, banks are bracing for an even more difficult 2016.
Tony Anenih Writes EFCC on How He Shared N260m, Implicates Another Politician...See Details
The former Board of Trustees (BOT) chairman of the Peoples' Democratic Party, Tony Anenih who is being investigated by the EFCC alongside other suspects in the controversial $2bn Arms Deal has revealed how N260m was shared.
Former PDP BOT Chair, Tony Anenih
The forrmer PDP Board chair Tony Anenih has explained how he disbursed the N260 million paid into his bank account from the Office of the National Security Adviser (ONSA).
The Economic and Financial Crimes Commission (EFCC) is of the opinion that the cash came from the allegedly misappropriated $2.1 billion arms funds.
Anenih wrote to the EFCC to state, among others, that he gave N63 million to a group coordinated by a former Special Assistant to former President Shehu Shagari (National Assembly Liaison), Alhaji Tanko Yakassai, for the 2015 presidential election.
Yakassai may be invited for interrogation over the “curious” payment, it was learnt yesterday.
Anenih was said to have told EFCC that he didn’t benefit from the money, but that he only shared it, following instructions.
The EFCC has started investigating alleged “curious” payment of N63million to a group led by Yakassai for the 2015 elections.
It was learnt that the probe followed a letter to the EFCC by a former Chairman of the Board of Trustees of the PDP, Chief Tony Anenih, on how he distributed the N260million paid into his account by the Office of the National Security Adviser(ONSA).
A highly-placed source in EFCC said: “Chief Tony Anenih has written the EFCC on how he disbursed N260million from ONSA to various groups including a team being coordinated by Tanko Yakassai.
“Anenih specifically indicated in the letter that N63million was given to Yakassai’s group. He mentioned a few others whose identities we will not disclose until our investigation has reached an appreciable stage.
“We will unveil the names of all the beneficiaries of the N260million soon. But we are at a level that we need to invite Yakassai to shed more light on why his group was allocated N63million arms funds.”
The source also added: “Besides the letter, we will invite Anenih to make a Statement on Oath and for interrogation.”
One of the charges against a former National Security Adviser (NSA), Col. Mohammed Sambo Dasuki and a former Director of Finance and Administration this office, Shaibu Salisu, was the transfer of N260million to Anenih.
The charge said: “That you Col. Mohammed Sambo Dasuki whilst being National Security Adviser and Shaibu Salisu, whilst being the Director of Finance and Administration in the Office of the National Security Adviser (ONSA) on or about 28th November 2014 in Abuja within the jurisdiction of this Honourable Court, and in such capacities entrusted with dominion over certain properties to wit: the sum of N260million being part of the funds in the account of the ONSA with Skye Bank Plc committed criminal breach of trust in respect of the said property when you transferred same to the bank account of Tony Anenih with First Bank of Nigeria Plc and you thereby committed an offence punishable under Section 315 of the Penal Code Act, Cap 532, Vol.4, LFN 2004.”
We Put Prophets of Doom to Shame - Former President Jonathan
The former President Goodluck Jonathan in his recent Facebook post said prophets of doom in 2015 have been put to shame.
Former President Goodluck Jonathan
The immediate past President Goodluck Jonatha said that Nigerians have proved wrong those who prophesied doom in the country after the 2015 general elections.
Jonathan stated this on his Facebook page on Tuesday, January 5 while reacting to the honour bestowed on him by the largest newspaper in America, The African Sun Times Newspaper, which named him its International Person of the Year, 2015.
He also reaffirmed his belief in the country, expressing optimism that Nigeria would surmount the challenges confronting it in the new year.
“I thank The African Sun Times for naming me as its International Person of the year, 2015. I am indeed humbled by this honour." he said.
“When I think about it, I understand why this medium may have thought me worthy of such an honour. However, I believe that my people, the Nigerian people, are more deserving of this honour.
“We, the Nigerian people, put to shame naysayers and prophets of doom and in 2015, we held a most transparent, violence-free and credible elections that transferred power from one political party to another and from an incumbent to the opposition, without rancour, bitterness or strife.
“In the process, we proved that nobody’s political ambition is worth the blood of any Nigerian or any national of any country for that matter. That to me, is a most worthy testimonial of the character of the Nigerian nation and the resilience of our people, which is why I dedicate this honour to them. May God continue to bless Nigeria and Nigerians.”
Finally! See What the Federal Government is Saying About Scraping NYSC Scheme
As speculations keep growing about plans of the Nigerian government to scrap the National Youth Service Scheme, the Federal Government has come out clear on the issue.
The Federal government of Nigeria has stated that there is no plan to scrap the National Youth Service Corps scheme.
The Minister of Youth Development and Sports, Mr. Solomon Dalong made this disclosure in Lagos on Tuesday. Dalong said the scheme had come to stay, adding that its merits outweighed its demerits.
The Minister of Youth Development and Sports, Mr. Solomon Dalong made this disclosure in Lagos on Tuesday. Dalong said the scheme had come to stay, adding that its merits outweighed its demerits.
The minister said this during an inspection tour of the Lagos State NYSC orientation camp in the Iyana Ipaya area of the state on Tuesday. He stressed that the scheme had not only enhanced the socio-cultural and ethnic integration in the country but had also promoted national unity.
He said, “We cannot dismiss the gains of the NYSC scheme in integrating Nigeria; I will stand firmly for the sustenance of the system, to continue in its capacity-building of Nigeria citizens because it is an indispensable aspect of diversifying our culture.”
He said such graduates would be provided with a start-up capital at the end of the training, which according to him would indirectly stimulate interest in education.
He said, “We cannot dismiss the gains of the NYSC scheme in integrating Nigeria; I will stand firmly for the sustenance of the system, to continue in its capacity-building of Nigeria citizens because it is an indispensable aspect of diversifying our culture.”
He said such graduates would be provided with a start-up capital at the end of the training, which according to him would indirectly stimulate interest in education.
“Apart from the basic orientation programme, the NYSC scheme should also move into including professional and enterprising programmes to support and motivate those who would not want to embrace public services in the country.
“After the mandatory one-year service, the Federal Government is planning an extension, to professionally train interested corps members in skill acquisition, enterprising and professional programmes.
“Corps members with keen interest would be retained and some financial token given to them as start-up capital in furtherance of their skill. This is because due to our research, we find out that people abandon school due to uncertainty of the future. Hence, we believe this would help reduce the unemployed graduate ratio and curtail pressure on white-collar job as a means to win the war against poverty”, he further stated.
Dalong expressed satisfaction over the state of the Lagos NYSC orientation camp, and thanked the Lagos State government for its support for the scheme.
He said, “Nigeria did not plan to have the number of graduates in this present dispensation. If we had planned effectively, the concept of NYSC camping would have started with a permanent and effective structure.
“The visionaries of the scheme did not anticipate the lifespan of the scheme after the Civil War; the implementation of the scheme was a strategy to mobilise and integrate Nigerians together, hence, the huge number of graduates each year has put much pressure on the facilities, calling for constant renovation and upgrading.”
Tuesday, January 5, 2016
Wike: PDP will continue to win all elections in Rivers State
Rivers State Governor, Nyesom Ezenwo Wike, has restated that if elections are conducted ten times in the state, candidates of the Peoples Democratic Party, PDP, will still emerge victorious because of the commitment of the party to the wellbeing of the people.
He further declared that the people are waiting for the total deployment of card readers, saying that the defeated APC in Rivers State will not win any unit because the APC and her sponsors have since betrayed the people.
Addressing a cross section of Rivers people at the state’s New Year Banquet in Government House, Port Harcourt on Friday night, Governor Wike said: “If elections are conducted ten times in Rivers State, PDP will win. We are waiting for the card reader, but let me see which unit they (APC) will win”.
Governor Wike charged the people of Rivers State to always respect the judiciary irrespective of judgments, noting that the stability of the country depends on the judiciary.
According to him, his administration has respected the full separation of powers, which has led to the independence of the Judiciary and the Legislative Arms of Government.
He expressed happiness that he lived up to his promise to revive the Judiciary after immediate past governor Amaechi closed the courts for two years, pointing out that Amaechi was the first person to take advantage of the revived Judiciary by rushing to court over the Judicial Commission of Inquiry.
The governor added that never again will the State House of Assembly be subjected to sitting in Government House under the guidance of the governor as was the case before he took over.
He said: “You don’t need to control any arm of government. What you need is mutual cooperation to develop the state”.
He outlined the achievements of his administration in terms of road infrastructure, schools development, empowerment programmes and health and agricultural schemes, saying that 2016 would witness more development projects in all sectors in line with the New Rivers vision.
He said that his administration was able to make landmark achievements in seven months because of the support and prayers of a vast majority of Rivers people. He declared that he will never be distracted, noting that his commitment to serve Rivers State is total, irrespective of any outcome.
The Rivers State Governor said his administration took bank loans to finance projects, not for politicking as rumoured and falsely reported in the media. “If I take a loan, I would use it to the benefit of the Rivers people. I will not use it to play politics.” Governor Wike said.
Governor Wike said his administration is interested in completing abandoned infrastructural projects, provided they impact positively on lives of the people.
He explained that though his administration had paid N 1. 5 billion for the foreign scholarships, it could not continue to fund it because the previous government of Rotimi Amaechi had incurred a debt of N3.5 billion for 2013–2014 and the 2014 -2015 sessions. He stated that the decision was taken in the overall interest of the state in view of dwindling finances.
Earlier, State Head of Service, Mr Rufus Godwins stated that the people of the state are solidly in support of Governor Wike because of his commitment to the development of Rivers State and his superlative achievements.
Former Minister of Sports, Dr Tammy Danagogo said that Governor Wike has lived up to the expectations of the people through his people focused programmes and projects.
The New Year Banquet, the first under Governor Wike’s administration, attracted former governors, state and Federal Legislators, National and State party officials and critical stakeholders of Rivers State.
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