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Below are the headlines found on The Punch Online Newspaper for today, Tuesday, 5 July, 2017.

Budgeting and abuse of legislative power
Wed, 05 Jul 2017
AS usual, the implementation of this year's budget has hit a tempest. The Acting President, Yemi Osinbajo, broached the matter when he signed the N7.44 trillion document into law early in June. But it took the splenetic outburst of the Minister of Power, Works and Housing, Babatunde Fashola, to unravel the details. Now, it seems []
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Lagos-Ibadan highway: Reps summon Fashola over 'inciting' comments
Wed, 05 Jul 2017
John Ameh and Okechukwu Nnodim The row between the Minister of Works, Power and Housing, Mr. Babatunde Fashola (SAN), and the National Assembly over the 2017 budget deepened on Tuesday as members of the House of Representatives summoned the former Lagos State governor to explain his post-budget utterances. Fashola's case was the first motion on []
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Agbakoba rejects restructuring, backs Nnamdi Kanu
Wed, 05 Jul 2017
Friday Olokor and Oladimeji Ramon Prominent Igbo lawyer and former President of the Nigerian Bar Association, Dr. Olisa Agbakoba (SAN), on Tuesday condemned the call for the country's restructuring, describing it as a political calculation by the elite to grab power in 2019. Rather, Agbakoba justified the demand for self-determination by the Nnamdi Kanu-led Indigenous []
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Melaye's recall: Petitioners must convince Senate or process is futile ' Ekweremadu
Wed, 05 Jul 2017
The Deputy President of the Senate, Ike Ekweremadu, has said that the ongoing move to recall Senator Dino Melaye would be an exercise in futility if those orchestrating his recall fail to convince lawmakers why the senator should be recalled. Making his contribution on a point of order raised by Senator Melaye to notify the []
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Late Gen. Vatsa's son, Haruna, is dead
Wed, 05 Jul 2017
Alhaji Haruna Vatsa, the first son of the late Maj,-Gen. Mamman Vatsa and the Director-General Protocol to Gov. Abubakar Bello of Niger is dead. The Chief Press Secretary to the Governor, Malam Jibrin Ndace, made confirmed the death in a statement released on Tuesday. He said that Vatsa died on Tuesday afternoon in Kaduna, following []
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Recession: FG enlists foreign firms to enhance recovery
Wed, 05 Jul 2017
Oyetunji Abioye with agency report The Federal Government is hiring the United States technology giants such as Oracle Corporation and Microsoft Corporation as it steps up efforts to save costs and fight corruption. An initiative led by Redwood, California-based Oracle, has helped the Federal Government to remove 50,000 ghost workers, or fake entries, from the []
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Skye Bank lauded for promoting savings
Wed, 05 Jul 2017
The Olubadan of Ibadan, Oba Saliu Adetunji, has commended Skye Bank Plc, for rewarding loyal customers and helping their businesses to grow. The monarch said this during the presentation of N1m cheque to Mrs. Ahmed Tolani, a civil servant who emerged the fourth lucky winner in the bank's on-going 'Reach for the Skye' millionaire reward []
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Cornerstone Insurance grows gross premium by 25%
Wed, 05 Jul 2017
Nike Popoola Cornerstone Insurance has grown its gross premium by 25 per cent during the 2016 financial period. The Group Chairman of the company, Mr. Segun Adebanji, stated this during its Annual General Meeting in Lagos. 'Despite the harsh economic climate the company has sustained its growth trajectory by growing gross premium written by 25 []
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Banking stocks record 3.36% loss, equities shed N162bn
Wed, 05 Jul 2017
Stanley Opara Banking stocks sank by 3.36 per cent week-to-date at the close of trading on the floor of the Nigerian Stock Exchange on Tuesday as the Exchange's market capitalisation dropped by N162bn. Bearish sentiments dominated the equities market for the third consecutive day, as the NSE All-Share Index declined by 1.10 per cent, to []
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Govt to expand CIS scope of operations
Wed, 05 Jul 2017
The Federal Government is making efforts to expand the scope of operations of the Chartered Institute of Stockbrokers, the Vice Chairman, Senate Committee on the Capital Market, Senator Festus Ogwuma, has said. He said the bill to expand the scope of operations of the CIS to serve as the hub of all professional associations in []
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Guinness undertakes N39.7bn rights issue, Ashaka Cement delists
Wed, 05 Jul 2017
Guinness Nigeria Plc has received clearance from the Securities and Exchange Commission and the Nigerian Stock Exchange to list the new Guinness Nigeria shares on the NSE.This also followed shareholder's approval received in January. The funds raised will support the company in executing its strategy in the context of ongoing external economic challenges, according to []
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N3.57tn borrowed in 21 months to finance budget deficit 'FG
Wed, 05 Jul 2017
Everest Amaefule, Abuja The Federal Government said on Tuesday that it borrowed N3.57tn between June 2015 and March 2017 to finance budget deficits. The government said this in response to an enquiry by The PUNCH, which sought to know what use it had put the funds being borrowed in the last two years from both []
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CBN deputy governor emerges Etisalat chairman
Wed, 05 Jul 2017
Ozioma Ubabukoh The Deputy Governor of the Central Bank of Nigeria, Joseph Nnanna, has emerged as the new Chairman of Etisalat Nigeria, and will henceforth lead the company's new Board of Directors. The CBN and the Nigerian Communications Commission said in a statement on Tuesday that they took the decision on the new appointments after []
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Accidents claim 35,179 lives in six years
Wed, 05 Jul 2017
Rasheed Bisiriyu A total of 35,179 people were killed in road accidents between 2012 and 2016, the Federal Road Safety Corps has said. The accidents, according to the Corp Marshal, FRSC, Mr. Boboye Oyeyemi, involved 436,633 persons in which 401, 454 of the people were rescued. Oyeyemi, who spoke at a seminar in Lagos through []
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Citibank gives Accion MfB N500m loan
Wed, 05 Jul 2017
Oyetunji Abioye Citibank Nigeria has extended a loan of N500m to Accion Microfinance Bank to promote the development of the microfinance sector in Nigeria. The loan will fund Accion's loan portfolio and support the development of approximately 5,000 Micro, Small and Medium-scale Enterprises in the country, according to a statement by the lender. It said []
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Kia flaunts Cerato features for Access Bank's promo
Wed, 05 Jul 2017
Rasheed Bisiriyu Dana Motors Limited says it is satisfied with the response of people to the recently announced Access Bank Family Fortune promo, saying it has attracted an appreciable level of interests from customers across the country. The promo is meant for the bank's customers who are offered a rare opportunity to own their dream []
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Toyota goes trendy with new Camry
Wed, 05 Jul 2017
Rasheed Bisiriyu Toyota Motor Corporation has rolled out an all-new 2018 Toyota Camry, eliciting enthusiasm from its fans and lovers of sleek sedans globally as it raises the level of fun and excitement in the latest model. The eighth-generation sedan is said to be the result of Toyota's total evolution, thanks to its much-talked about []
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How to achieve your savings goal faster
Wed, 05 Jul 2017
When it comes to saving money, there are a few banking tools most depositors are familiar with ' most savers own at least one savings account, and some may have even opened a money market account, according to http://www.businessinsider.com. However, another great savings account many people don't know much about is the fixed deposit account. []
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Is investing in fixed deposit for me
Wed, 05 Jul 2017
Fixed deposit can help you earn higher interest rates but the terms and restrictions are not for everyone. Here are a few questions to ask yourself when deciding to invest in fixed deposit, according to http://www.businessinsider.com. Can I set money aside and not touch it' Since most financial institutions penalise fixed deposit account holders who []
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Buy new Nigeria-assembled Peugeot 301, PAN urges govt
Wed, 05 Jul 2017
Godwin Isenyo, Kaduna The Chairman of PAN Nigeria, Alhaji Munir Jaafar, has appealed to government at federal and state levels to patronise locally assembled Peugeot vehicles as a way to promote made in Nigeria goods. This way, Jaafar noted that the auto company could expand and create more jobs for the teeming unemployed people in []
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MG showcases complete models at UK carnival
Wed, 05 Jul 2017
Rasheed Bisiriyu MG fans from different parts of the world recently gathered in Silverstone, United Kingdom to mark the brand's 97 years of history of making classic and iconic cars. The MG Live is an annual event held in the UK and is described as the biggest car event held anywhere in the world organized []
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NNPC gets $2bn discount on re-negotiated contract
Wed, 05 Jul 2017
The Nigerian National Petroleum Corporation has secured a $2bn discount from re-negotiated upstream contracts being executed by its various service providers in the last one year. The Group Managing Director of the corporation, Dr Maikanti Baru, made this known in a message to mark one year of his headship of the organisation. In a statement []
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Guinness Nigeria receives SEC, NSE approvals to float N39.7bn issue
Wed, 05 Jul 2017
Guinness Nigeria Plc has received the Securities and Exchange Commission and the Nigerian Stock Exchange's approvals to float a rights issue of N39.70bn. The company said in a statement on Tuesday in Lagos that it had received clearance of the issue documents from both regulators to list the new shares on the NSE. It said []
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Wimbledon: Federer, Djokovic get free passes
Wed, 05 Jul 2017
Roger Federer and Novak Djokovic barely had to break sweat to make winning starts at Wimbledon as their injury-hit opponents retired hurt from their first round matches on Tuesday, AFP reports. Federer is chasing a record eighth Wimbledon title and he was already well on top at the start of his 19th All England Club []
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Enyeama frozen out at Lille
Wed, 05 Jul 2017
Portugal's Euro 2016 hero Eder, Nigeria legend Vincent Enyeama and France international Rio Mavuba are among 11 players who have been frozen out over the summer by new Lille coach Marcelo Bielsa. After being appointed by the club's new owner, Gerard Lopez, on a two-year deal in May, Bielsa immediately set about reshaping the squad []
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Chelsea ready to sell Omeruo
Wed, 05 Jul 2017
CHELSEA have received an offer from Goztepe to sign Kenneth Omeruo, according to reports. Omeruo, 23, joined the Blues from Standard Liege in January 2012 but he has failed to make a single first-team appearance. He has been loaned out four times with his latest spell being with Turkish side Alanyaspor, where he made 26 []
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Onazi dumps Trabzonspor
Wed, 05 Jul 2017
Nigeria international Ogenyi Onazi has terminated his contract with Turkish club Trabzonspor over unpaid wages. The 24-year-old played the final two months of last season without pay. His agent and former Nigeria international Ayodele Stephen Makinwa says they have written to the club with their decision. 'Now we are looking for a quick solution with []
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Promoter gets bids for Joshua-Klitschko rematch in Abuja
Wed, 05 Jul 2017
ANTHONY JOSHUA has been told there are two bids on the table from Nigeria to stage his world heavyweight title rematch against Wladimir Klitschko, according to The Sun. His promoter Eddie Hearn has been sifting through mega-money offers to put the fight on in Nigeria's capital Abuja and a decision is expected early next week []
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Why Messi is the best player ' Guardiola
Wed, 05 Jul 2017
Pep Guardiola has described Lionel Messi as 'the best player I have ever seen', with the Barcelona star making the game look 'simple', Goal reports. The now Manchester City manager spent four years working with the mercurial Argentine at Camp Nou between 2008 and 2012. They collected an enviable haul of major honours together, with []
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Sunshine will escape relegation 'Duke Udi
Wed, 05 Jul 2017
Idris Adesina New Sunshine Stars coach, Duke Udi, has promised that the Akure Premier League club will not be relegated at the end of the season. The former Osun United coach, who replaced ex-Super Eagles manager Austine Eguavoen, who left after five matches in charge of the team, won his first Premier League game with []
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Minister hails Quadri
Wed, 05 Jul 2017
Sports minister Solomon Dalung has praised Aruna Quadri for qualifying for the ITTF World Cup in France. The minister said of the Oyo State-born table tennis player had confirmed his superiority in Africa. Dalung said, 'This victory has once again demonstrated the superiority of Quadri in Africa. This is good news for us in the []
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Brume, Amusan set for Diamond League
Wed, 05 Jul 2017
Africa's top-ranked long jumper Ese Brume and Nigeria's second fastest sprint hurdler of all time Tobiloba Amusan are expected compete in the IAAF Diamond League meeting in Lausanne, Switzerland, on Thursday. Brume, the reigning Commonwealth Games long jump champion, tipped to succeed Blessing Okagbare as the new queen of the horizontal jump, is gradually fulfilling []
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Federation reruns hold on July 12
Wed, 05 Jul 2017
The four national sports federation reruns have been scheduled to hold on July 12 in Abuja. The Election Appeals Committee headed by Alhaji Abdulrazak Salau on Friday annulled the June 13 elections to the athletics, gymnastics, wrestling and taekwondo federation boards following the petitions against the polls by candidates who were disqualified on election day. []
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15 teams for Hockey Super League
Wed, 05 Jul 2017
The 2017 Hockey Super League is expected to kick off at the Abuja National Stadium on July 15. The Nigeria Hockey Federation Secretary-General Rita Akande told the News Agency of Nigeria on Tuesday that eight men and seven women's teams would take part in the league in which seven matches would be played daily. The []
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Teaser for Yoruba mothers
Wed, 05 Jul 2017
No elder or custodian of Yoruba culture has yet reacted to claims credited to TV talk show host, Funmi Iyanda, that 'The average Yoruba man' doesn't mind his wife cheating.' Maybe, they are taking their time to wrap up something equally controversial to clubber her with. So, Funmi's comeuppance is nigh' probably. Because what you []
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Powering the capital market through financial literacy
Wed, 05 Jul 2017
Financial literacy refers to the level of education and awareness about financial markets' products, participants and processes which is crucial for the development of any country's economy. Unlike the money market under which short term bank products largely fall, studies have shown that the level of awareness concerning the capital market- which deals in medium []
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Restructuring and the 2014 National Conference report (2)
Wed, 05 Jul 2017
Poju Akinyanju Continued from Tuesday On the most vexatious issue of revenue allocation/fiscal federalism, another main plank of agitation of the Restructionists, the 2014 National Conference merely kicked the can down the road when it asked the Executive to handle it. The conference sustained the dichotomy between indigeneship and residency. Thus, the psychology of the []
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Badoo storms Lagos churches, kills babies, mother
Wed, 05 Jul 2017
Samson Folarin and Afeez Hanafi Suspected members of Badoo cult moved from their Ikorodu base on Tuesday, attacking two churches in Owode Onirin. Two babies and a woman were killed in the latest attack. This is just as five residents were crushed to death by a car in Isiwu, Ikorodu, while trying to administer jungle []
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10-year-old, two others die in Delta church
Wed, 05 Jul 2017
Ovie Okpare, Warri Three persons, including a 10-year-old boy, identified as Emmanuel Odili, have died in mysterious circumstances on the premises of Christ Mercyland Deliverance Ministries owned by a popular preacher, Prophet Jeremiah Fufeyin, alias Warri TB Joshua, in Effurun, Delta State. It was learnt that the incident occurred on Saturday on the church premises []
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Corpse of missing UNIOSUN student found near Alfa's house
Wed, 05 Jul 2017
Femi Makinde, Osogbo The corpse of Oluwafemi Shonibare, a 400-level student of Microbiology Department of the Osun State University, who went missing nine days ago, has been found inside a bush near one Alfa's house. Students living on Jafaria Street told our correspondent that the Alfa, who was arrested in connection with the boy's disappearance, []
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Police arrest Imo Catholic priest for shooting assistant
Wed, 05 Jul 2017
Chidiebube Okeoma, Owerri The parish priest in charge of Saint Mary's Catholic Church, Eziama-Osuama, in the Isiala Mbano Local Government Area of Imo State, Rev. Father Christian Amusuo, has been arrested by operatives of the state police command for allegedly shooting his assistant, identified simply as Rev. Father Precious. Our correspondent gathered that the priest []
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Edo teachers reject funding of primary education by councils
Wed, 05 Jul 2017
Teachers under the aegis of the Nigeria Union of Teachers, Edo State wing, have kicked against the handover of the management of primary education to the local governments. The workers, who were drawn from the 18 local government areas of the state, made the call during a peaceful protest at the Government House in Benin []
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