₦airaland Forum

SOUTHEAST/SOUTHSOUTH GOVERNORS VOTE FOR NIGERIA’S UNITY
source : http://www.eyesoflagos.com/2017/08/southeastsouthsouth-governors-vote-for.html

Despite what they called obvious marginalisation in the distribution of national cake, Southeast/Southsouth governors have renewed their faith in a united Nigeria.

They subscribed to the destiny and greatness of Nigeria with an urge to compatriots to place the country on the front row in the comity of nations.



The governors’ pledge was contained in a communique issued on Sunday at the end of their second meeting under the aegis of the Southeast/Southsouth Governors’ Forum at the Government House in Port Harcourt, Rivers State.

EYES Of LAGOS gathered that, They agreed to promote the unity of the country but urged the Federal Government to encourage investors in the oil and gas industry to have their operational headquarters in regions of operation to attract more and investments in the sector.

The communique, signed by the interim Forum chairman and Akwa Ibom State Governor Udom Emmanuel, stated that the governors resolved among others:

To pursue inter-regional cooperation and integration for the common good of the regions’ people.

To work together politically, align and re-align as a people that share common heritage, culture and affinity.
To articulate and advocate for issues affecting the wellbeing of the regions. The issues may not necessarily materialise immediately, but for the benefits of future generations.

To continue to subscribe our faith to the destiny and greatness of Nigeria and call upon Nigerians to put their hands on the plough and rise to claim our rightful place in the comity of nations.

To condemn hate speech in national discourse, whether in individual communication, or utterances of political actors or parties and to urge security agencies to set up joint border patrols and develop more proactive strategies in combating crime and criminality.

To urge the Federal Government to come up with a clear policy on concession of Federal roads and to fast-track the process in order to ameliorate the sufferings of the people of the regions.

They further resolved to pursue inter-regional cooperation and integration for the common good of the regions’ people.

The forum, however regretted that: ”The deplorable state of federal roads in the two regions. That none of the airports and seaports located in our regions is reasonably functional, and that neither of the two regions are linked by any rail services. That the Federal presence in the regions is very minimal and only noticeable in the presence of policemen.”

The meeting, chaired by the Akwa Ibom governor had in attendance seven governors and four deputy governors. The governors are: Nyesom Ezenwo Wike (Rivers); Ifeanyi Okowa (Delta); Ifeanyi Ugwuanyi (Enugu); Dave Umahi (Ebonyi Rochas Okorocha (Imo) and Okezie Ikpeazu (Abia).

The deputy governors who represented their principals Rear Admiral Gboribiogha John Jonah (Bayelsa); Dr. Nkem Okeke (Anambra); Philip Shaibu (Edo) and Prof. Ivara Esu (Cross River).

The forum will reconvene in Owerri, Imo State on October 8, according to a statement by Simeon Nwakaudu, Special Assistant to the Rivers State

WIKE DISSOLVES CHIEFTAINCY STOOLS’ INQUIRY PANEL
source : http://www.eyesoflagos.com/2017/08/wike-dissolves-chieftaincy-stools.html


EYES OF LAGOS learnt that, Rivers State governor, Chief Ezebunwo Nyesom Wike has ordered the dissolution of the Panel of Inquiry To Review Classification Of The State Chieftaincy Stools.
This is as the governor has reinstated the caretaker committee chairmen of Gokana and Ogu/Bolo local government areas, who were relieved of their appointments two weeks ago.
Wike, in two separate statements signed by his Special Assistant on Electronic Media, Simeon Nwakaudu, directed the panel to hand over all documents in its possession to the office of the Secretary to State Government (SSG).
The governor directed the reinstated caretaker committee chairmen to resume at their duty posts without delay.
Wike had on August 7, 2017 relieved the caretaker committees chairmen of Gokana, Asari-Toru, Emohua and Ogu-Bolo local government areas of their appointments.

INITIAL PLAN WAS TO SEIZE AND SELL OFF ARIK AIR – OKON
source : http://www.eyesoflagos.com/2017/08/initial-plan-was-to-seize-and-sell-off.html

Former Vice-Chairman of Arik Air, Senator Anietie Okon has alleged that some interests in government had planned to take over Arik Air and sell it cheaply to themselves but this was forestalled by Asset Management Corporation of Nigeria (AMCON), which is currently managing the airline.
Senator Okon said the interest group took advantage of the financial distress of the airline occasioned by the crash of Nigeria’s economy that forced it into recession and the plunge of the value of the Naira.
This he said made it extremely difficult to obtain foreign exchange and run the airline, which has the largest fleet in the country, adding that the bad economy also affected some other companies in the country, which rely on forex to sustain their operations.
Okon observed that currently no Nigerian airline is benefitting properly from the bilateral agreement Nigeria signed with other countries; rather government has given away all the routes to foreign airlines at the detriment of Nigeria’s interest.
He remarked that the economic and social consequences of government not supporting the airline and other airlines in the industry include job losses, the weakening of the value of naira and recalled that Arik was selling tickets for international destinations in naira while foreign airlines continue to demand for dollars and it had 2, 600 staff against that of foreign airlines that may have at most 10 Nigerian staff.
According to him, in other societies, government would have stepped in to save the airline by providing it and others support, knowing that the economic problem was a national issue, but instead it forcefully took Arik over and today the airline is operating less than 40 percent of its capacity.
EYES OF LAGOS learnt that, However, Okon noted that AMCON management is striving to keep the airline operating but at very low capacity, with most of the aircraft due for maintenance but without the resources to take them out for repairs, adding that at the 11th year of the airline, the former management had planned to bring in new aircraft from Boeing, the B737 MAX to take over from the existing ones while the later go for heavy maintenance.
He said this was supposed to be the fleet renewal strategy of the airline, which wanted to maintain young fleet in its operations.
“The stakeholders are gearing for a rebirth of the airline. Eight aircraft are ripe for heavy checks. They are there parked and wasting away. They have degraded the maintenance culture of the company because we take the aircraft to European Aviation Safety Agency (EASA) rated maintenance facility, but we heard they now take them to Lithuania facility where the maintenance cost is cheap but even at that they cannot even pay for the aircraft they have taken out,” he said.
Senator Okon remarked that the Nigerian government “is always too willing to cut deals with foreign airlines and give our market away. Our country is losing so much for the selfish interest of a few.”

NIGERIAN STOCKS DIP BY 0.90%
source : http://www.eyesoflagos.com/2017/08/nigerian-stocks-dip-by-090.html


The Nigerian stock market closed yesterday to open for the new week on a negative note with a decline of 0.90 per cent.
According to Eyes Of Lagos reports, In summary, the All Share Index (ASI) shed 329.15 absolute points, representing a loss of 0.90 per cent to close at 36,317.31 points. Similarly, the market capitalisation dropped by N113 billion, to close at N12.518 trillion.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Mobil, Guiness, Guaranty Trust Bank, Flourmills, Nigerian Breweries, Access Bank, Zenith Bank, UBA, Dangote Cement and FBN Holdings.
Analysts at Afrinvest noted that, “Given the extended sell pressure on the Bourse over the past two weeks, we expect to see some bargain hunting by investors in early trades of this week.
“We maintain our positive medium term view for equities, on the back of positive forward earnings and increase in valuation multiples.”
Market breadth was negative, with nine gainers versus 30 losers. Total recorded the highest price gain of 9.09 per cent, to close at N236.50. Airline Services followed with a gain of 4.99 per cent, to close at N5.68, while Cutix appreciated by 4.98 per cent to close at N2.11 per share.
Vitafoam appreciated by 4.49 per cent to close at N2.79, while Continental Reinsurance went up by 3.88 per cent to close at N1.34 per share.
On the other hand, Mobil and Transnational Express led the losers’ chart by five per cent, each to close at N182.93 and seven six kobo, respectively, while Conoil followed with a decline of 4.71 per cent, to close at N27.70 per share.
Champion Breweries depreciated by 4.49 per cent to close at N2.34 and Livestock declined by 4.26 per cent to close at 90 kobo per share.
Also, the total volume traded decreased by 17.6 per cent to 348.11 million shares, worth N2.98 billion, and traded in 3,276 deals. Transactions in the shares of Costodian and Allied Insurance topped the activity chart with 190.56 million shares valued at N647.9 million. Oando followed with 27.37 million shares worth N185.37 million, while Access Bank traded 14.95 million shares valued at N151.53 million.
Fidelity Bank traded 14.44 million shares valued at N19.51 million, while Sterling Bank sold 11.41 million shares worth N11.63 million.

OSINBAJO WOOS ECOWAS BANK AS ADEOSUN EMERGES CHAIRMAN
source : http://www.eyesoflagos.com/2017/08/osinbajo-woos-ecowas-bank-as-adeosun.html

Vice President, Prof. Yemi Osinbajo yesterday urged the Economic Community of West African Stares (ECOWAS) bank for Investment and Development (EBID) to become more active in supporting the nation’s massive investment and infrastructure drive.
Eyes Of Lagos gathered that, The Vice President said the Nigerian government is working hard to attract greater number of local and foreign investments. He said the current administration has put in place the needed reforms to create the enabling environment and, other business environment reforms.
“Here in Nigeria, we like to see you become even more active in supporting our investment and infrastructure ambition,” Prof. Osinbajo said yesterday while declaring the 15th Ordinary annual meeting of the ECOWAS Bank for Investment and Development Board of Governors open in Abuja. Continuing, Prof. Osinbajo expressed confidence that the bank’s “investment in Nigeria will continue to be a smart business decision.”
“There is no doubt that the success of the Nigerian economy with our population being more than half the size of the ECOWAS community and now rated the largest economy by GDP in Africa will possibly impact the whole of our sub region,” he said, adding: “Nigeria’s economic buoyancy is in the real sense, the buoyance of our region.”
He urged the 15 member states to commit more effort to agriculture for sustainable food production and job creation in the region.
Stating that “the citizens of our various countries are looking up to us for policies and interventions that will break the bone of poverty, inequality,’ the Vice President noted that “Without question, the challenges of today call for greater creativity and foresight in supporting and making investment in our member countries.”
In her opening remarks, the minister of finance, Mrs. Kemi Adeosun, who also emerged the new Chairman of the Board of Governors of the ECOWAS Investment Bank, said the meeting presents an opportunity to discuss the various issues of development in the sub-region. “It is time for a shift to a new model which ensures that opportunities from economic growth and development can be enjoyed and shared by more people in the sub-region,” Mrs. Adeosun called.
Adeosun called on other Finance Ministers to endeavour to speak about radical economic transformation with a view to taking the region “on the path to a better life for all citizens in our Community.”
She urged them to prioritise industrialisation especially through labour intensive manufacturing to promote job creation, with conscious emphasis on agriculture to improve food security and deriving more value from the Sea, by boosting the Ocean economy.
‘For us to succeed, we need to mobilise appropriate financing. Accordingly, we must support our Bank – EBID, to mobilise domestic and external resources to strengthen developmental partnerships and collaboration,” she said.
Speaking at the event, the bank’s President, Mr. Bashir Ifo expressed optimism that with the approval and signing of Nigeria’s 2017 budget, “policy uncertainties will be curbed, and the country, through its focus on the non-oil sector and other economic diversification initiatives, would in the very near future, experience more positive economic growth.”
Meanwhile, Mr. Ifo disclosed that implementation of the EBID’s 2016-2020 Strategic Plan is being constrained as a result of lack of adequate resources. In 2016, a total of 11 projects amounting to UA 90.4 million or USD 121.5 were appraised, representing a decline of 12.2 per cent in value when compared with the previous year.

HOW WE WILL BRING OBASANJO, SARAKI, ATIKU BACK TO PDP – MAKARFI
source : http://www.eyesoflagos.com/2017/08/how-we-will-bring-obasanjo-saraki-atiku.html

The Chairman of the National Caretaker Committee of the People’s Democratic Party (PDP), Ahmed Makarfi, has revealed that there are plans to bring back people like former president, Olusegun Obasanjo, Senate President, Bukola Saraki and former vice-president, Atiku Abubakar to the party.


In an interview with Sunday Punch, Makarfi stated that a peace committee has been inaugurated at national and zonal levels to that effect.

“There is a plan to mobilise many people. We inaugurated the peace committee at the national and zonal levels and we have given them terms of reference to their work in terms of reconciliation and mobilisation. We hope they succeed in wooing these people back to the PDP,” he said.

On the 2019 presidential elections, Makarfi said: “the PDP will field a strong candidate from the North to face (President Muhammadu) Buhari or whoever the APC presents. Buhari must go in 2019.

“I honestly don’t see him winning a second term because we have concluded plans to defeat the APC in 2019. I believe the PDP will win that presidential election once we field a good candidate.”

BONANZA: DANGOTE CEMENT REWARDING RETAILERS
source : http://www.eyesoflagos.com/2017/08/bonanza-dangote-cement-rewarding.html

It’s has been a great time of rewards for the teeming retailers of Dangote Cement as the officials of the company have been moving from locations to locations in a carnival-like procession to deliver the products and containers to each of its winners at their business locations in the ongoing Dangote Cement Retailers Bonanza.
According to the report gathered by Eyes Of Lagos, There was brief suspension of trading activities in major markets at Mararaba main market in Ilorin, Kwara State and Jericho cement market Ibadan, Oyo State when the Dangote Cement Retailers Bonanza season two processions entered the markets with decorated truck-loads of cements for delivery to the star winners in the new promo being run by the Dangote cement Plc.
The Company had in between headed to Benin where similar deliveries were done for some six star winners, one from Auchi and the remaining five from Benin City, the Edo state capital. Each of the first star winners received 1200 bags of cement with 40 feet container, worth over N4 million while the second star winners had their winning coupons redeemed with 600 bags and 20 feet container each.
It was indeed an atmosphere of disbelief and bewilderment as the winners were taken by surprise when the team from West Region of the Dangote Cement surfaced at the markets amid ecstasy and dance to the tunes and rhythms of songs oozing from the boys’ brigade orchestra mounted on top of the cement laden trucks.
The carnival like event threw the markets into frenzy mood as other retailers and buyers joined in the dancing in celebration with the winners thus halting buying and selling momentarily in the markets as truck boys had a field day displaying their skills as some of them lifted bags of cement with their teeth.
The first port of call was the Mararaba market where the winner Retailer, Mrs. Ganiyat Abiola has her sales shop. Trading under the name of Buthayna Nigeria Limited. She purchased her winning 300 bags from an Ilorin major distributor, Mueez Afolabi. The Dangote cement procession had taken off from its Olorunsogo Mega store, a distance of about 5 km to the market. Mrs. Abiola could not hide her joy as was short words when approached for comment. It took some seconds before she was able to make a comment.
Abiola explained that it was a big surprise to her when she was called from the customer service of the Company in Lagos that she has won. Having been in the business of sale of cement as a retailer for over 30 years and had never had such an experience before, saying “You can imagine how one would feel seeing the company come with cement trucks in the full public glare to redeem the prize. I have never seen this kind of thing before, it was only Dangote who could do this because we have not been experiencing cement promo until Dangote started one last time. And this is the second one.”
While urging other retailers not on Dangote stable to switch over, Abiola expressed excitement that she could become the cynosure of all eyes in the market because she has won a promo and thanked Dangote for the gesture. “I will forever remember this, from 300 bags to 1200 bags free, this is unbelievable”, she added.
After the Ilorin presentation of prize, the Company moved to Benin where some six winners physically took deliveries of their products and containers. It would appear that a winner emerged from Edo axis every week as the six star winners emerged one after another each week respectively.
By the end of week six of the promo, Umeh Chukwu Donatus emerged winner from Auchi winning 600 bags and a 20 ft container. In Benin, winning the first prize was Mr. Nosahire Omokaro, who won 1200 bags and 40 ft container while four others, Cletus Amuno, Madam Dorothy osas, Izoduwa Isaac and Osaretin Osayi won 600 bags each with 20 ft containers.
Nosahire of the Joy Global Ventures who could not hide his joy, said, “When I heard of the promo, I prayed to God to help me and He has help me. I shouted when I was called to be told that I have won. I thank the management. Selling Dangote Cement is a serious business. The man behind it is also a serious business man. God will continue to bless him as he thinks about others. No doubt about it that Dangote Cement is the best and this they have also shown with this promo. No other cement company is doing this.”
Madam Dorothy in her own remarks said she was more than happy when told she has won. We want them to continue to run the promo since the mindset is to help small businesses grow by encouraging them.
Speaking in the same vein, Mr. Columbus Chukwu, the major distributor in Benin, from whom some of the retailers purchased the products, stated that gesture by the Dangote Cement has shown that the company was out to revive small businesses by targeting the retailers. The first promo was an eye opener, those who never believed that had to rush this one having seen that people are actually winning.
In Ibadan, the star winner, who products were taken to him at the Jericho cement market was more than overwhelmed. Mr. Gbadegoye Anthony of the Goodness and Mercy Company said he never took the caller serious when told his coupon had won bags of cement and container. It was my RO who told me to submit my coupon that I may win something. So I did and he was the one who now confirmed it to me that I have won. Initially, I took the announcement with mixed feeling and didn’t tell my wife until I was sure it was real
Sincerely, my appreciation goes to Dangote cement and Dangote himself. I do tell my friends, since I ventured into this business, about a decade ago that if Nigeria is lucky to have a man like Dangote in each of the six geo-political zones, Nigeria will be a great place to live. Dangote Cement Company made a promise and they stand by it, its’ very rare. And the team in Ibadan is so fantastic, they their job very well. I thank them.
Also witnessing the event was the Chairman of Ifesowapo Cement dealers Association, Jericho, Alh. Raheem Adesina said his association is happy with Dangote Cement. They produce quality cement and make it available everywhere. We are the ones selling cement when we talk about cement we know exactly what we are talking about. Dangote Cement has no equal.
Explaining the rationale behind the bonanza, the Dangote Cement team leader to the markets, Mrs. Funmi Sanni, who is the West Regional Sales Director, said the decision to take the products to the retailers in their respective place of trade was to prove that the bonanza was not a fluke but real and that no sacrifice is too much for the Company to bear for its retailers.
She explained that the Dangote Cement management designed the bonanza to reward it is loyal retailers and help them shore up their businesses, saying this is why it has also included containers in the winning package, saying, “We are passionate about the wellbeing of the businesses of our retailers because together with our distributors they make our own business to thrive and this is why the company thought of a way to reward them, motivate them to sell more. Only Dangote can do this in this sector, no other company. We are always a trail blazer.
“We have also made provision for containers as part of the winning package because we take seriously the issue of storage, when our retailers buy cement of up to 300 bags and wins 1200 bags, we surely need to provide where they will store it, this is what we have done with the containers and they are happy with this.”
On how the retailers won, the regional director of Dangote Cement explained that, “All they need do is to buy up to 300 bags and collect a coupon, fill it, write their name, address and phone numbers and drop in the designated collection box. Every week a draws are held to select star winners. Anyone could win the 1200 bags, 600 bag and certainly everyday some people win 10 bags of cement as consolation prizes. The winner is called on phone while the draw is going on and he or she collects from any of our stores nearest to them. But we decided to take the winnings to them wherever they are in the full public glare so that those doubting will know it is real and participate.
“We are giving out products worth N500 million and it is all for our retailers to win. They are our foot soldiers, and we are encouraging them at this time that the economy of the nation is not that friendly, to sell more and win more because the more you purchased the more the chances of winning. Each purchase qualifies each retailer to participate.”

12 PERSONS DIE IN LAGOS BOAT MISHAP
source : http://www.eyesoflagos.com/2017/08/12-persons-die-in-lagos-boat-mishap.html

No fewer than twelve persons were yesterday confirmed dead in a boat mishap which occurred in Ilashe area of Lagos State.
According to the report gathered by Eyes Of Lagos, Confirming the tragic incident, the managing director of Lagos State Waterways Authority (LASWA), Engr Abisola Kamson, the state government attributed the unfortunate mishap to overloading of passengers on a Banana Boat and operation of illegal jetty.
Kamson said four victims of the mishap who were rescued are already receiving treatment at a nearby hospital, while search and rescue operation was still ongoing.
While commiserating with the families of those that lost their loved ones, the State Government said the mishap had again brought to the fore the need for the National Inland Waterways Authority (NIWA) to respect the recent verdict of the Court of Appeal which upheld the powers of the State Government to control its intra-inland waterways.
Giving details of the mishap, Kamson said: “An unfortunate incident occurred at Ilashe today Sunday August 20th arising from overloading of passengers on a Banana boat taking off from an illegal Jetty which has become a perennial issue of the Lagos State Government to rid our Waterfront areas of illegal operators.
“We sympathize with the families of the deceased as 12 lives were lost in the mishap and four people receiving treatment in the hospital.”
“The LASWA rescue team has been on ground and search is still on-going. This brings to fore again the need for NIWA to allow the judgement of the Appeal Court granting Lagos Control of her waterways to take effect without hindrance.
“It is a matter for regret that ever since the judgement was pronounced, NIWA has ejected all State Water Guards monitoring standards from all Federal owned Jetties.
“In spite of this, the Government of Lagos State aligns to the safety of citizens on the waterways. All Lagosians are enjoined to wear standard life jackets at all times on our Waterways,” Kamson said.
The LASWA boss urged boat operators and other stakeholders in the inland waterways sector to adhere strictly to safety standards at all times.

BANKS REDUCE LENDING TO ECONOMY BY N292BN IN Q2 – NBS
source : http://www.eyesoflagos.com/2017/08/banks-reduce-lending-to-economy-by.html

According to EYES OF LAGOS findings, The National Bureau of Statistics (NBS) has disclosed that commercial banks reduced their lending to the economy by N292 billion in the second quarter (Q2) of 2017. The bureau in its report titled: “Selected Banking Sector Data” also disclosed that Electronic Payment Channels in the Nigeria Banking Sector hits N19.78 trillion in Q2 of 2017.
According to NBS report, Commercial banks’ lending to 17 sectors of the economy fell to N15.7 trillion in Q2 of 2017 from N16 trillion in first quarter (Q1) 2017, indicating a drop of N292 billion or 1.8 per cent. The 17 sectors according to NBS include Agriculture, Mining and Quarrying, Manufacturing, Oil and Gas, and Power and Energy, among others.
However when compared to lending in the second quarter of 2016, commercial banks’ lending to the sectors increased by 0.57 per cent to N15.5 trillion. The report by NBS also showed that oil and gas sector got the largest credit of about N3.5 trillion, followed by the manufacturing sector with N2.22 trillion while power and energy dropped by 1.3 per cent to N466billion in Q2 2017.
In terms of credit to private sector, a total of N15.71 trillion worth of credit was allocated by the banks in Q2 2017. Oil and Gas and Manufacturing sectors got credit allocation of N3.53trillion and N2.22 trillion to record the highest credit allocation in the period under review. The report showed that the volume and value of electronic payment transactions stood at 327,366,042 and N19.78 trillion at the end of Q2 2017.
Automated Teller Machine (ATM) transactions dominated the volume of transactions recorded. 187, 805, 431 volume of ATM transactions valued at N1.54 trillion were recorded in Q2 2017 while Nigeria Interbank Settlement System (NIBSS) Instant Pay (NIP) transactions came first in terms of value with N13.36 trillion.
The report also showed that Nigerians withdrew N1.5 trillion through ATMs in the first quarter of 2017, slightly down from N1.54 trillion at the end of fourth quarter of 2016. The report by NBS said, “187, 805,431 Transactions in Q2 – ATM Payment Option had the highest Volume of Transaction and the 3rd by Value. N13.36 trillion Transaction Value in Q2 – NIBSS Instant Payment Option Had the highest value of transaction and 2nd by Volume.”
Also the volume and value of Point of Sales (PoS) transactions increased to 32 million and N324 billion from 26.6 million and N286 billion in Q1 2017. While the volume and value of mobile payment transactions stood at 11 million and N295 billion in Q2 2017 from 12.6 million and N261 billion in Q1 2017. Similarly, the volume and value of web (internet) transactions increased to 5.96 million and N37 billion in Q2 2017 from 5.52 million and N47 billion in Q1 2017.

STAKEHOLDERS TO REVIEW EFFECTS OF TAX LAWS ON CAPITAL MARKET
source : http://www.eyesoflagos.com/2017/08/stakeholders-to-review-effects-of-tax.html

Stakeholders in the Nigeria’s capital market, Securities and Exchange Commission (SEC), the Nigerian Stock Exchange (NSE), Central Securities Clearing System (CSCS) and Capital Market Operators (CMO) have resolved to continue discussions on tax legislation as it affect equities’ trading.
According to statement by the commission, a position on the issue will be taken at the forthcoming meeting of the Capital Market Master Plan Implementation Council (CAMMIC).
According to report gathered by Eyes Of Lagos, The discussion, which rose from a meeting of the Capital Market Committee (CMC), last week in Lagos, was chaired by the director-general of SEC, Mounir Gwarzo.
It also charged its e-Dividend Committee to address the lingering issues surrounding electronic payment of dividends.
He assured that the development of a uniform platform for subscribing to the e-Dividend Mandate Management System and the Direct Cash Settlement System is ongoing.
Participants were also informed of ongoing discussions with the Central Bank of Nigeria (CBN) to achieve the Dual Licensing Model, recalling Gwarzo as stressing the need for Capital Market Operators (CMOs) to professionally advise investors on dynamics of equity investments so as to avoid a repeat of the mistake of the past.
The SEC boss, the statement continued, expressed delight at the sustained uptrend in the nation’s capital market in recent times, expressing hope for its sustained growth as the economic fundamentals of the country continue to stabilize.

ABUJA AND THE POOR STATE OF PUBLIC TRANSPORT SYSTEM
source : http://www.eyesoflagos.com/2017/08/abuja-and-poor-state-of-public.html


In a typical society, there will always be an issue of class. Not everyone will be wealthy, some will just be average and others will be poor. In most societies especially in the developing nations, there will be people that placed more priority in owning private cars. This, it is observed, will enable them move around with their families.
For some people, even though they can afford a car for a family, they tend to place less priority on it because of the effective transport system they have in their society.
Other families that can’t afford one car have to resort to the public transport system.
On the other hand, there is always a need to move around. There are places people can’t just walk to even if they have the strength to do so.
For people who don’t have cars, for them to travel, the only option will be to use public transportation at a given price.
Eyes Of Lagos reports that many societies have the goal of bridging the gap between the poor and the rich but no matter how hard they work to achieve that goal, low income earners may face some challenges.
Experts say in other to assuage the sufferings of citizens that must travel from one place to another, effective public transport scheme will be the easiest ways to make life meaningful to the populace.
Just like inadequate health system, lack of proper social amenities, access to and affordability of public transportation is a big issue in Abuja, the Nigeria’s federal capital.
With the influx of people on a daily basis into the Nigeria’s capital city, working class people and many children have being finding it difficult to transport themselves to places off work and schools
Speaking to Eyes Of Lagos on the poor state of public transport system in Abuja, a woman who works as a house help narrated gloomy experiences she have faced.
The mother of four said most of the vehicles use for public transportation are bad adding that the few ones available and very unsafe.
“If at all i decide to take a taxi, it is always incredibly expensive,” she said.
“It is so difficult getting to work every morning as the commercial vehicles are not enough and the taxis that are always available are very expensive to ride in,” she lamented.
The Federal Capital Territory Administration (FCTA) banned the use of buses as a means of transportation in Abuja city centres.
The decision banning the use of buses for commercial purposes in Abuja without effective means of public transportation has thrown many residents into an untold hardship.
The government owned commercial vehicles have been channelled to Nnanya- Masaka, Kubwa- Suleja and the Gwagwalada routes while other citizens living in different axis including those within the city centre are left with the challenge of in adequate transport system.
In most cases, these residents have to pay high to get taxis, it was gathered.
“Sometimes i get late to work because I spend quiet a number of times waiting for the next available commercial vehicle,” said Mary Jonathan.
“The challenge I am facing is the destinations of these buses. They mostly go to about three different routes which makes it very difficult for us here,” a resident in life camp, Musa Bala said.
Even though the government said it is doing a lot aim at improving the public transport system, many residents are complaining and hoping the government will do more about the issue of poor transportation system in the FCT.
“There is the need for more commercial buses and cars to go to different routes. There should be visible bus stops for these vehicles. There should be a very understandable bus schedule and that should be made available for people who will be using the public transport services,” said a transport expert, Emmanuel Kazah.
According to Kazah, there should be a limit to the amount of persons a commercial vehicle should carry.
“I am always surprise seeing people struggling to board vehicles in Abuja. We need a standard planning strategy that will help in reducing the hardship people face in Abuja. I’ve gone through many cities of the world that have more population than Abuja but you can find the terrible situation such as this one in Abuja.
They succeed because they plan ahead. We must plan ahead of the population. It should be a public private partnership if we must get it right. Government must encourage the citizens with soft loans to go into commercial transport business. This will ease the difficulties many people face,” said a transport expert, Adewale Akan
“Transportation is important to the productivity of every city and we deserve to have a safe and comfortable transport system here in Abuja. We don’t have to pay through our noses just to get to where we want to go,” said an Abuja resident who doesn’t want her name mentioned.

BREAKING: KANU, IGBO LEADERS MEET OVER ANAMBRA ELECTION
source : http://www.eyesoflagos.com/2017/08/breaking-kanu-igbo-leaders-meet-over.html

Igbo leaders under the umbrella of the Ala Igbo International Foundation are currently holding a press conference in Owerri, the Anambra State capital over the November 18 Anambra Governorship Election.


According to report gathered by Eyes Of Lagos,The foundation has traditional leaders, Igbo professors, and religious leaders as members.

Details later…

ONE HUNDRED DAYS ABROAD AND STILL POSING FOR PICTURES' - FANI-KAYODE RUBBISHES BUHARI IN NEW ARTICLE
source: http://www.eyesoflagos.com/2017/08/one-hundred-days-abroad-and-still.html


By Femi Fani-Kayode

President Muhammadu Buhari has been away from our shores for over 100 days in a stretch treating an undisclosed and mysterious illness in far-away London. Since May 29th 2015 when he was sworn into office as President he has spent 350 of his over 740 days in power abroad treating the same strange ailment.


Those that demand that he should “resume or resign” are being attacked and brutalised by security forces and agents of the state. The Buhari government has no respect for human rights and civil liberties. Charly Boy Oputa, Deji Adeyanju, Ariyo Dare- Atoye, Jude Ndukwe and other notable figures and leaders of the “Our Mumu Don Do” movement were brutalised and almost murdered by Buhari’s savage footsoldiers at Wuse Market in Abuja the other day simply because they dared to go on a demonstration and ask for the President to “resume or resign”.

If that had happened Nigeria would have exploded yet no arrests have been made and the government seems unperturbed.

Tension has gripped the land as we approach October 1st and the Nigerian people have expressed deep concern about what is unfolding yet all we are fed with on a daily basis are pictures of an ailing Buhari, holding court in London and granting audience to his friends, political associates, family members and loyalists.

The whole thing is not only inappropiate and undignified but it is also deeply insulting. Simply put it is sordid. Meanwhile the world laughs us to scorn and mocks our nation. We are a nation in which an Acting President who is scared of his own shadow, has been reduced to a mere national co-ordinator and that is in the power of a faceless and tiny cabal .

The truth is that we are now a full-fledged dictatorship that is being controlled and presided over by a tiny cabal with a religious and ethnic agenda. This, together with an unrelenting, though unsuccessful attempt, to demonise and crush the traditional opposition and silence all forms of dissent has resulted in the irresistable rise of powerful and well-organised secessionist and separatist groups such as the Yoruba Liberation Command (YOLICOM) and the Nnamdi Kanu-led Indigenous People of Biafra (IPOB).

The fact that the Federal Government is incapable of encouraging national cohesion and integration but is instead saddled with a morbid obsession to try to destroy President Goodluck Jonathan and rubbish his excellent legacy speaks volumes.

The lies and propaganda of the Buhari administration are second to none. Simply put they are filled with deceit, deception, mendacity and hate.

They have sought to demonise and destroy more innocent Nigerians than any other Government in our entire history. They have killed more innocent Nigerians than any other Government in our history outside of the civil war. They have locked up more innocent Nigerians and subjected them to shameful and barbaric witchunts and media trials than any other civilian Government in the history of our country.

Under them soldiers slaughtered over 1000 Shia Muslims in one afternoon in Zaria and buried them in mass graves. Under them thousands of IPOB youths have been butchered by security agents.

Under them hundreds of thousands of innocent Nigerians have been raped, maimed, robbed and massacred by well-armed, well-funded and well-organised Fulani militias and herdsmen all over the country yet not one of the perpetrators has been arrested or brought to justice simply because they are members of the President’s ethnic group Under them Boko Haram has resurrected, restored its fortunes and won back virtually all the territory that they had lost when President Goodluck Jonathan was in power.

Under them more Christians have been butchered and more Churches burnt down than any other Govermment in the history of Nigeria. Under them northern youths have given a chilling quit notice to our Igbo compatriots to leave the north.

They have also threatened them with genocide and mass murder if they fail to do so by Octobr 1st yet not one of those youths has been apprehended, questioned or arrested.

Under them a frightful and barbaric song has been crafted and is being shared and sang all over the north which openly calls for the ethnic cleansing and total elimination and annihilation of every Igbo in the country yet the song has not been outlawed or banned and its authors have not been arrested.

Under them a culture of silence and fear has been imposed on the Nigerian people and few are ready to risk life, limb and liberty by speaking truth to power or resisting and standing up to tyranny.

Under them the worst economic recession that we have ever experienced in our history has been established and the Nigerian people have been afflicted with pain, hunger, hardship, suffering, poverty, uncertainty and despair.

Under them cows (yes cows!) have taken over our city streets, schools and places of worship and the lives of cattle are deemed to have more value than that of human beings. They refer to every northern Muslim that resists their evil agenda and that does not support them as a traitor and an infidel and they refer to every southerner and Christian as a slave and an unbeliever.

Their’s is the language of hate, violence and division and it must be condemned and resisted by all men and women of goodwill regardless of their faith and ethnicity. More than any other Government this government has divided us along ethnic, religious and regional lines and they don’t appear to give a hoot about the implications of doing so.

As a matter of fact the contrary is the case: they appear to enjoy doing it and they feed on the dangerous divisions that they have created. permit me to conclude this contribution with the following.

So obsessed, so primitive, so provincial, so insensitive, so petty, so cruel, so crude, so paranoid, so deluded, so out of touch with reality, so reckless, so hateful and so obsessed with President Jonathan and the PDP is this Presidency that they went as far as to say that the great lady and former Minister of Information Mrs. Dora Akunyili was sent to her premature death and early grave because she was given a job by the former President.

Never in the history of our nation has such a vicious, nonsensical, baseless, malevolent and specious mendacity been pronounced by an official of the Federal Government. Never-mind the fact that the statement was issued by a very junior staff of the Presidency It is also a clear reflection of the intellectual bankruptcy of the Buhari administration.

Whatever this government feels about Jonathan, the People’s Democratic Party or anyone else they should please leave Dora Akunyili out of it because this profoundly good lady that brought joy to the hearts of so many is not here to speak for or defend herself.

They should allow this great daughter of Nigeria who was not only my colleague in the Obasanjo administration over ten years ago but who also served our nation honorably and creditably through the auspices of no less than three PDP President’s and Federal Governments to continue to rest in peace.

Those talking about Dora are not fit to mention her name or to lick the bottom of her shoes.

Source: Eyes Of Lagos

FOREX: NAIRA LOSES AGAINST DOLLAR
source : http://www.eyesoflagos.com/2017/08/forex-naira-loses-against-dollar.html

The naira on Thursday continued to fall against the dollar at the parallel market, the News Agency of Nigeria (NAN) reports.
The Nigerian currency lost one point to exchange at N368, weaker than N367 posted on Wednesday, while the Pound Sterling and the Euro closed at N478 and N432.
At the Bureau De Change (BDC) window, the naira was sold at N363 to the dollar, while the Pound Sterling and the Euro closed at N478 and N432.
However, the naira appreciated at the investors’ window, exchanging at N361.17 stronger than N362.39.
Traders at the market told NAN that in spite of the weekly auction of foreign exchange by the Central Bank of Nigeria (CBN) to BDC, the naira continued to depreciate. (NAN)

SHI’ITES PROTEST IN KADUNA, DEMAND IMMEDIATE RELEASE OF SHEIKH ZAKZAKY
source : http://www.eyesoflagos.com/2017/08/shiites-protest-in-kaduna-demand.html

Members of the Islamic Movement in Nigeria, IMN, from Kano, Jigaea, Niger, Bauchi, Zamfara and Kaduna on Wednesday in Kaduna staged a protest, demanding for the unconditional release of Sheikh Zakzaky from detention.

The protesters also demanded for the release of the remaining members of IMN from prison.

The protesters blocked all the major highways in Kaduna metropolis chanting “Free Zakzaky, we demand justice, we are Nigerians.”

Eyes Of Lagos source revealed that, Speaking to journalists, spokesperson for the protesters, Mallam Nuhu Mafara, said they were out in large number to agitate for the unconditional release of their leader who has been in detention for 612 days.

He added, “The protest was a joint action against the illegal detention of our leader, Ibrahim El-zakzaky, with members from Kano Jigawa, Niger, Bauchi, Zamfara and other northern states are here today to demand the unconditional release of our leader.
“Today also marks over 250 days since court of the land set him (El-zakzaky ) free , but the cabals holding Nigerians ransom have stubbornly refused to obey court orders.”

A press statement signed and issued to newsmen by Sheikh Abdulhamid Bello, said, “While there are known figures in Nigeria today agitating for the breakup of the country into pieces, with some even issueing ultimatum to the government. But here is Sheikh Zakzaky, who has never committed any treasonable offence languishing in jail.

“We will not rest on our oars until justice is observed to the most oppressed Shiekh of our time, Sheikh El-zakzaky.”‎

GUNMEN ATTACK EFCC HEADQUARTERS IN ABUJA
source : http://www.eyesoflagos.com/2017/08/gunmen-attack-efcc-headquarters-in-abuja.html

Few weeks after an investigator with the Economic Financial and Crime Commission (EFCC), Mr Austine Okwor, was shot by unknown assailants in Port Harcourt, the Rivers State capital, the commission yesterday suffered a major security breach when unknown gunmen attacked its headquarters located at Wuse Zone 7, Abuja.
Eyes Of Lagos source revealed that, In a statement by its head of media, Mr. Wilson Uwajuren, the commission said a group of heavily armed bandits invaded the office at about 5:00am and began shooting into the premises, damaging vehicles parked in the premises in the process.
Wilson noted that the attack was however repelled by security guards on duty.
The hoodlums were said to have escaped in a getaway vehicle but not without leaving a message.
A white envelope dropped by the fleeing attackers was found to contain a death threat addressed to Ishaku Sharu, a senior investigator with the commission.
Ishaku who heads the Foreign Exchange Malpractices Fraud Section is in charge of corruption investigation involving several politically exposed persons and retired military brass.
The zone 7 office which was attacked by the gunmen, houses the Commission’s AMCON Desk, Procurement Fraud and Foreign Exchange Malpractices sections,
The incident has already been reported to the Police for investigation.

BOKO HARAM: POLICE CONFIRM 16 DEAD, 82 INJURED IN KONDUGA ATTACKS
source : http://www.eyesoflagos.com/2017/08/boko-haram-police-confirm-16-dead-82.html

The Borno State commissioner of Police, Mr Damian Chukwu yesterday confirmed the killing of 16 people in Konduga, while 82 others sustained various degrees of injuries at different Boko Haram attacks in Konduga local government area of Borno State.
Mr Chukwu stated this during a chat with newsmen following Tuesday’s incident.
Residents of Konduga had earlier told journalists that, 39 people were killed while 103 others were injured and are currently receiving medical attention at the University of Maiduguri Teaching Hospital.
It would be recalled that suspected Boko Haram suicide bombers attacked Konduga village, about 34 kilometers from Maidugiri, killing several persons.
Eyes Of Lagos recalls that this attack is coming barely five hours after the launching of the special mobile strike teams by the Theatre Commander, Operation Lafiya Dole, Tuesday, with directives to track down the Boko Haram spiritual leader, Abubakar Shekau.
The attack by suicide bombers on Mandarari town of Konduga local government area at about 5:50pm was the third in a roll within the month of August, 2017.
voices , the Languages of the region to de- radicalize violent extremists and terrorists.

According to the founder of the radio station, Dr David Smith yesterday during the commissioning in Ndjamena, “ For the first time in the history of radio in Africa and in the world, there is Kanuri and Kanembu voices on FM and Short Wave covering the entire Lake Chad region.”

He thanked the Managing Director of Dandal Kura Radio Maiduguri, Faruk Dalhatu and his team for a good job.

In his remarks during the ceremonial cutting of the tape, the Executive Secretary/Head of Mission Lake Chad Basin Commission (LCBC), Engr Sanusi Imran Abdullahi said: “Today marks another milestone in the collective efforts of our governments to address challenges in the Lake Chad Basin.

“ Dandal Kura Radio is meant to communicate to our populace and Boko Haram Terrorists (BHT) with a view to making them surrender, de-radicalise them by using qualified experts in the domain of sensitisation and counter propaganda to address them”.

Engr Abdullahi used the occasion to thank all the partners for their continuous support in bringing peace to the region.

In his own part, Mr Lawro Gondje, who represented the President of the High Council of Communication, Ndjamena, acknowledged the initiator of the radio and the partners and stated that the radio is a tool and an object for the fight against Boko Haram terrorists by the LCBC countries, adding that it comes at a point in time when the countries of Lake Chad came together to fight terrorism.

He described Dandal Kura Radio as an instrument for the education and development of young generations.

While making a remark, the Commander Multinational Joint Task Force Base ( MNJTF), Maj Gen Lucky Irabor appreciated those that made the establishment of Dandal Kura Radio possible.

He said that , “The voice of peace is louder than the voice of violence”. He further stated , “I believe Radio Dandal Kura will help to promote this.” He added that the objective of the radio is to synchronize with that of the MNJTF.

Gen Irabor also thanked the strategic partners for their support and reiterated that violence does not recognise race, tribe, colour or even boundaries.

“If we do not work as a team to rout the menace of Boko Haram terrorists, of course every one of us will be a victim”, he noted.

The event witnessed the signing of a Memorandum of Understanding (MoU) between the ES/HoM, Engr. Sanusi and Lawro Gondje, representing the President of the High Council of Communication in Ndjamena – Chad.

The ceremony was attended by government officials, members of the diplomatic corps, MNJTF family, representatives from the Centre for Coordination and Liaison (CCL) and the media.

NAIRA FIRMS ON I&E WINDOW AS US, NORTH KOREA TENSION HEIGHTENS
source : http://www.eyesoflagos.com/2017/08/naira-firms-on-i-window-as-us-north.html

The value of the naira went in different directions at the Investors and Exporters window of the official and parallel market last week as tension between North Korea and the United States impacted the value of the dollar at the international foreign exchange market.
Tension between the two countries have over the past weeks heightened as investors seek out investment havens. The United States dollar index which tracks the dollar against a basket for six major currencies slipped on the back of weaker-than-expected U.S. producer prices. The index stood at 93.468 below levels around the 93.4 handle seen in the previous session. Ahead, the release of U.S. July CPI due during the U.S. trading day is expected to influence the direction of the dollar.
Despite a drop in foreign exchange inflow at the Investors and Exporters window, the value of the naira gained strength rising by 0.7 per cent selling at N364.78 to the dollar, one of the lowest values achieved on the market since its inception this year.
According to the report gathered by Eyes Of Lagos, The volume of foreign exchange traded at the I&E window had declined by over 50 per cent. As against $1.047 billion that was traded on the window the previous week, turnover dropped to $440.2 million, a situation that did not affect the naira negatively.
However, the naira depreciated at the parallel market where it declined to N367 to the dollar at the close of business last week from N365 which it began the week’s trading activities. Likewise at the Central Bank of Nigeria end of the market, the naira closed weaker at N305.6 to the dollar from N305.5 which it opened the week.
Lukman Otunuga, research analyst at FXTM, said: “Today’s main focus and event risk for the US dollar, will be the pending inflation report from the United States Federal Reserve, which should offer fresh clues on the pace of monetary tightening.
“Although the Greenback has maintained its post NFP gains this week, the overall price action suggests that market players are still hesitant to purchase the currency. Investors need more convincing over the possibility of higher US interest rates this year and this should come in the form of rising inflation.’’
He noted that “with concerns over stubbornly low inflation weighing heavily on the prospect of another US interest rate increase, the pending US CPI data will be in sharp focus. A soft inflation figure below market consensus is likely to quell expectations of higher US interest rates, ultimately pressuring the dollar.”

PENSION FUND HITS N6.5TRN
source : http://www.eyesoflagos.com/2017/08/pension-fund-hits-n65trn.html

The nation’s pension funds, under the Contributory Pension Scheme (CPS), grew to about N6.5 trillion as at the end of July 2017, even as the number of pension contributors rose significantly to 7. 6 million, Eyes Of Lagos has exclusively gathered.
As at the end of July 2017, the fund increased to about N6.5 trillion from N6.4 trillion it stood at as at April ending.
Moreover, Eyes Of Lagos gathered that between April and June this year, there were 97,713 Retirement Savings Account (RSA) holders registered under the new pension scheme, with 77,023 contributors from the private sector.
9,148 workers from the federal government registered under the CPS, while state governments recorded 11,542 contributors, thus, increasing the total number of pension contributors from inception of the scheme till now to 7.6 million.
In the same vein, report has it that between April and June, 2017, the pension fund gained about N7.5 billion as private sector added N4.1 billion to the pension pool, with states contributing N1.5 billion, while the federal government added N1.8 billion to the pension funds.
The fund is growing despite the fact that federal government has accumulated about N200 billion pension arrears under the Defined Benefit Scheme (DBS) and Contributory Pension Scheme (CPS), even as most states as well as some companies in the private sector are still defaulting in remittance to RSAs of their workers.
The reason for the constant growth in pension assets, Eyes Of Lagos learnt, is not unconnected to the fact that pension contributions are made on a monthly basis to the RSAs of employees, while the Pension Fund Administrators (PFAs) also make a lot of profits from investment of these funds into federal government bonds, stock market and other less risky investment windows that also go into the pension pool.
Moreover, with some states now ready to join the CPS, as well as the readiness of the federal government to settle some of its arrears, and the National Pension Commission (PenCom) going after defaulting employers, experts said these could push the fund even beyond the aforementioned amount.
Speaking at a retreat organized by the Pension Fund Operators of Nigeria (PenOp) for pension journalists in Abeokuta, Ogun State yesterday, executive director, Crusader Sterling Pension, Mr. Conrad Ifode, said the investment income from pension assets was regarded as a key factor that keeps the fund growing at an acceptable rate, just as the pension assets now has about N2.3 trillion as income from investment of the assets, adding that the security of the fund is also a crucial factor.
Stating that the workers’ contributions are paid by their employers regularly, he added that the PFAs comply with their legal obligations, with no case of fraud recorded nor has any PFA gone bankrupt since inception of the scheme. This, he pointed out, shows that the contributors’ funds are safe.
The director, Centre for Pension Right Advocacy, Mr. Ivor Takor, said most of the PFAs were making money from investment of the pension funds and that some of the profits also goes back into the fund, which increases its volume.
Takor, who is also a former board member of the National Pension Commission(PenCom), however, appealed to the federal government and states to pay their respective pension arrears, as this will go a long way to redeem the lost image of the new pension scheme which has been recently criticised for various reasons, among which is the multitude of arrears owed, just like what was happening in the old scheme.
He applauded the steps taken by PenCom in partnering with the Economic and Financial Crimes Commission (EFCC) as well as other relevant agencies to prosecute defaulting employers, stating that this will also ensure more compliance in the private sector and make sure the fund keeps growing from time to time.

EKITI DRAGS 5 TO COURT OVER N2.05M BUILDING MATERIAL THEFT
source : http://www.eyesoflagos.com/2017/08/ekiti-drags-5-to-court-over-n205m.html

Five persons been charged to court by the Ekiti State Government stealing 600 bags of cement and 16mm iron rods worth N1,530,000 and N35,000, respectively meant for the construction of ongoing new Oba’s market in Ado Ekiti, the state capital.
The accused are Jegede Olusola, Faleye Sunday, Filani Oladipo, Olabode Felix and Dada Tunde.
Other stolen items allegedly traced to the suspects are 180 pieces of marine board and one roll of binding wire worth N112,000 and N378,000, respectively.
The alleged offence is punishable under Sections 390 and 516 of the Criminal Code, Cap C16, Laws of Ekiti State, 2012.
The two-count charge was filed by the Director of Public Prosecutions, Ministry of Justice. Mr. Gbemiga Adaramola.
Count one reads, “That you, Jegede Kayode Olusola, Faleye Sunday, Filani Oladipo, Olabode Felix and Dada Tunde between October 6, 2016 to March 31, 2017 did conspire to steal 600 bags of cement worth N1,530,000, 16mm iron rods worth N35,000, one roll of binding wire worth N112,000, 180 pieces of marine board worth N378,000 total value of N2.05m, property of Ekiti State Government at the site of ultra-modern Oba’s market, old garage, Ado Ekiti within the Ado Ekiti Magisterial District, thereby committed an offence punishable under Section 516 of the Criminal Code, Cap C16, Laws of Ekiti State, 2012.”
At the resumed hearing on Thursday, the prosecutor asked Chief Magistrate Idowu Aiyenimo for a short adjournment to enable him respond to the counter-affidavit and Preliminary Objection filed against the charge.
“We were served this morning, we thought we will be able to respond to the processes but unfortunately we are still typing stage.
“Consequent upon this, we will be asking for a very short adjournment.”
The defence counsel, Olawale Obafemi, did not object to the application.
Ruling, Chief Magistrate Aiyenimo adjourned the case till August 17 for hearing

CSOS BACK PMB, INSIST HE WON’T RESIGN
source : http://www.eyesoflagos.com/2017/08/csos-back-pmb-insist-he-wont-resign.html

A coalition of civil society orgarnisations (CSOs) yesterday declared total support for President Muhammadu Buhari, saying the president won’t resign as being demanded by a group of Nigerians protesting under the auspices of #OurMumuDonDo.
The coalition of CSOs known as the Centre for Civil Society and Justice (CCSJ) made the declaration after staging a counter protest rally in support of the president at the precinct of Aso Rock presidential.
The protest by the CCSJ is a direct response to the one staged by the #OurMumuDonDo group against the continued stay of the president in the United Kingdom in which they are asking Buhari to either return from his medical vacation or resign.
Speaking on behalf of the CCSJ demonstrators yesterday, the convener, Comrade Goodluck Obi, said his group has “absolute faith and trust in President Buhari’s administration, not machinations of corruption and destabilisation.
“We are saying from today, 10th August 2017, we will be holding a rally/protest march here at Unity Fountain for the next one month and beyond in order to send clear and unambiguous message to agents of chaos and unity that Nigerians are solidly behind President Muhammadu Buhari’s administration based on our democratic mandate entrusted to him on 28th March 2015,” Obi stated.
In its response, the presidency assured the coalition that, while the protest against the president was a clear indication of corruption fighting back, attempts to derail the war against graft, using subterfuge and bluff will not succeed. It also commended the Senate for its stance that the president has not violated the law by staying off duty for months.
According to the reports gathered by Eyes Of Lagos, The senior special assistant to the president on media and publicity, Mallam Garba Shehu, who addressed the CSOs, dismissed the “return or resign” agitation as an illegal assembly stealthily organised to deliver a body blow to the war against corruption.
The presidency also praised Nigerians for rising against the chaotic rout of protesters assembled at the Unity Fountain demanding the return of President Buhari, describing such demands as unlawful.
Shehu said, “It might be taken for granted that the beneficiaries of the old order are fighting back. We have been warned that corruption will fight back. In a country where just one woman for having the opportunity to serve as minister has N47.2 billion and 487.5 million dollars of public resources in cash and property traced to her by the Economic and Financial Crimes Commission (EFCC), you don’t expect the beneficiaries of that order to allow the Buhari administration some peace. They want to distract us. But what the acting President wants to assure patriotic citizens is that the government will not bend.
“As far the president is concerned, he has done the needful by handing the reins of authority to the vice president. Since the law of the country does not give a time limit for the president’s return, it cannot be imposed by a saber-rattling group or individual.”
The presidential spokesman commended the CCSJ for being orderly in their demonstration and urged them to shun all provocations by opponents of government.
Shehu continued: “By divine intervention, Muhammadu Buhari unexpectedly got elected with the ostensible mandate of reversing national decline and securing its future. He got into the Villa through democratic victory at election. “Anybody desiring to replace him, whether you are a wrestler, a hair dresser or a musician, you should go through that process. In a democracy, threats don’t work”.
Also, the senior special assistant to the president on National
Assembly matters (Senate), Ita Enang, commended the Senate for its stance that the president has not violated the law by staying off duty for months. The Red Chamber had said this in a statement signed by its spokesman, Sabi Abdullahi, on Thursday.
Enang noted yesterday that the National Assembly is satisfied that the president’s absence left no vacuum, and therefore cautioned protesters against creating unnecessary tension in the country.
Enang, who was fielding questions from journalists after an interactive session with law students from Akwa Ibom State, who visited him in his office, described the Senate’s position as commendable and constitutional.
His words: “The stance of the Senate is very patriotic; very commendable and very constitutional. The Senate has always stood right and upright on matters of national interest and whenever there is objection or anything that the Senate has objection to, we look at it maturely and we look at it amicably and in this particular situation as in most other situations, I commend the Senate.
“We thank the Senate for the stabilising statement and for the position they have taken because it is the position of the law of the constitution’.
The presidential aide said the president was entitled under the constitution to go on medical vacation, even as he maintained that Buhari had already complied with all relevant sections of the nation’s constitution.
Enang noted: “The president is entitled to under the constitution, transmit formal letter to the Senate and House of Representatives informing them of his vacation and until he returns and transmits another letter, the acting president is still in charge and there is no vacuum in the country.
“So all actions of the government like that of the executive, legislature and the judiciary are going on and nothing is affected adversely by the vacation of Mr President since there is no vacuum in the country”.

SUSPECT ARRESTED FOR ATTEMPTING TO DEFILE BABY IN IKORODU
source : http://www.eyesoflagos.com/2017/08/suspect-arrested-for-attempting-to.html

Residents of Kasoleri around Agbala – Itura, Ikorodu were left in awe following the arrest of a man for allegedly attempting to defile a 6-year-old girl in the area.
Eyes Of Lagos report that, According to a Facebook post shared by Rasheed Adedeji Fatuga, the 35-year old suspect who had relocated from the area came visiting a friend before he lured the child into an uncompleted building an attempted rape her. “He was seen and caught by a passerby as he was about to r*pe the six years old girl in the uncompleted building,” he shared.
See his full post below.
“He has moved away from the area, but came visiting his former neighbors, he was welcomed and entertained.
“As the neighbors were distracted, he lured one of their daughters to an uncompleted building around the area.
“He was seen and caught by a passerby as he was about to r*pe the six years old girl in the uncompleted building around Kasoleri area, close to Agbala Itura, Ikorodu.
“Parents, be careful who you trust with your children.”

‘DIEZANI’S LOOT CAN BUILD SIX WORLD CLASS AIRPORTS IN THE COUNTRY’
source : http://www.eyesoflagos.com/2017/08/diezanis-loot-can-build-six-world-class.html

The stolen funds allegedly traced to former Petroleum Minister Mrs. Diezani Alison-Madueke could fund infrastructure growth, Buhari Media Support Group (BMSG) said yesterday in Abuja.



According to Eyes Of Lagos reports, A statement by its Chairman, Mr. Austin Braimoh and Secretary, Mr. Cassidy Madueke, said government could build six world-class airports in each geo-political zone with part of the funds.

It added that the recovered loot was enough to have funded agricultural projects that would have generated employment for Nigerian youths.

The BMSG added that the N47.2 billion and 487.5 million dollars in cash and property traced to Alison-Madueke by the Economic and Financial Crimes Commission (EFCC) were also enough to complete the Lagos-Kano and Lagos-Calabar rail lines.

It noted that the Federal Government was already seeking loans for the rail projects.

The group called on Nigerians to join hands to condemn the massive looting of the nation’s treasury by officials of previous administrations.

It expressed belief that the loot traced to the former minister was a “far cry’’ from what she and others in the past governments pilfered from the national treasury.

According to it, these funds stashed in foreign accounts forced the Nigerian economy to suffer instant depression.

The group noted that Madueke and her associates, including Mr. Kola Aluko and Jide Omokore, were being tried by the United States (U.S.) government for allegedly laundering over 1.7 billion dollars.

It urged Nigerians to have a collective resolve to fight what it described as “psychotic and mindless’’ type of looting exhibited by indicted government officials in their days in government.

This, it said, could halt the craving to loot public treasury by government officials.

The group reminded Nigerians that though the fight against corruption was the foremost policy thrust of President Muhammadu Buhari’s administration, “the fight might not attain maximum result unless Nigerians willingly resolve to join in it’’.

“This synergy is necessary so as to fight the art of looting and other forms of mismanagement in government.’’

It stated that all concerned Nigerians should be organising widespread protests to condemn looting of government funds by officials, past and present, as often revealed by the anti-graft agencies.

FG TO REFINANCE DOMESTIC DEBTS INTO $3BN TREASURY BILLS
source : http://www.eyesoflagos.com/2017/08/fg-to-refinance-domestic-debts-into-3bn.html

The federal government yesterday approved the refinancing of the country’s domestic debts into treasury bills worth $3billion as part of its overall strategy to reduce the cost of borrowing.
The Minister of Finance, Mrs Kemi Adeosun, gave the hint while addressing State House Correspondents after the Federal Executive Council (FEC) meeting presided over by Acting President Yemi Osinbajo.
Eyes Of Lagos report that, According to her, the approval was derived from a memo her ministry presented to FEC to enable the federal government to restructure its debt portfolio.
She said, “The memo that I presented and was approved by council was part of our efforts to restructure our debt portfolio. We got approval in June that we would restructure our debt profile. We would borrow less in Naira and more in foreign currency because it is cheaper and also because we want to prevent crowding out the private sector.
“We want to create room for the private sector to be able to borrow so they can grow and create jobs. So, as part of that, we sought approval and that was granted for us to refinance treasury bills.
“As treasury bills mature, we will be refinancing them into dollars. Up to $3 billion worth of treasury bills will be refinanced into dollars. As the Naira treasury bills mature, we will be issuing dollar instruments. So, we are not increasing our borrowings; we simply are restructuring. Instead of borrowing naira we are bearing dollars”.
The minister who noted that the measure has the advantage of reducing cost of borrowing said the average right that the nation borrowed internationally did not exceed seven per cent, whereas in the treasury bills, it was between 13.6 per cent and 18.5 per cent.
Adeosun added that the country was almost reducing by half the cost of borrowing which was trying to relieve the pressure on debt service.
She recalled the controversy that the debt service of the country was very high, adding that the refinancing was to relieve the debt service, even as she said that by the measure, government would be extending the maturity profile of the debt.
According to her, the country’s treasury bills mature in maximum of 364 days, while the borrowing will be taken up to three years.
She said that the expectation is that when the economy recover, the country it will be in a much better position to repay instead of just rolling over the debt as is being done at the moment.
The minister said reducing government borrowing by $3 billion will create more rooms for banks to lend to the private sector.
“Hopefully that will also create some downward pressure on interest rates. We won’t be borrowing as much in Nigeria and hopefully that will also begin to put pressure on interest rate which we all agree has to come down”, she added.
Adeosun explained that government will not issue dollar denominated treasury bills but bonds in the international capital market for the matured naira denominated treasury bills.
Her words: “Our actual cost of borrowing is actually below seven per cent while the Treasury Bills we are paying up to 18 per cent. What we are simply doing is substituting the maturing naira debts with cheaper dollar denominated bills.
“On the impact on the naira, it is actually positive because what it means is effectively $3 billion will be coming in to our foreign reserves”.
Also, the Minister of Budget and National Planning, Mr Udoma Udo Udoma, said FEC approved the Medium Term Expenditure Framework (MTEF) 2017 to 2020 and fiscal strategy paper.
The MTEF which is the precursor to the budget itself recommended that the 2018 budget be predicated on oil price benchmark of $45 per barrel and N305 exchange rate to a dollar.
Udoma noted that in the past weeks, government was having consultations with the governors, public and members of the National Assembly on MTEF.
He said the highlight of the approval is that the government is committed to achieving a seven per cent growth rate by the end of the three-year plan in accordance with the economic recovery and growth plan.
Udoma explained that the trajectory of getting to seven per cent is that the target for 2018 will be 3.5 per cent growth rate, 4.5 per cent in 2019 and 7 per cent in 2020.
He further noted that there is a projection of 2.3 million barrels per day of oil production for 2018 made up of 1.8 million barrels per day (bpd), with regular crude and 500,000 bpd of condensate and crude oil price projection of $45 dollars.
He said, “Council today approved a memorandum that was submitted by my ministry and approved the 2018-2020 MTEF. As we know, we have been having extensive consultation in the last few weeks with governors, members of the public, leadership of the National Assembly about the MTEF.
“So, we submitted it and it was approved by council. The highlight of it is that we have committed to achieving a 7% growth rate by 2020 at the end of the three-year plan in accordance with the Economic recovery and growth plan.
“MTEF is based on the economic recovery and growth plan and in terms of the trajectory of getting the 7%, we have approved a slightly different trajectory in the sense that by next year our target 3.5% in 2018, in 2019 it will be 4.5% growth rate and of course in 2020 it will be 7% growth rate”.
“In terms of crude oil production, our estimate projection for next year is 2.3 million barrels per day. We expect it to be broken down to 1.8million barrels per day regular crude and 500 thousand barrels per day in terms of condensate.
“The price we projected for next year is $45. We are also committed in the MTEF to explore ways of raising additional revenue to reduce debt service to revenue ratio. As the Minister of finance said, that is part of the policy of this government to make sure that borrowing is controlled and to make sure to keep a reasonable debt service to revenue ratio which will of course help to bring down interest rates.
“With respect to the exchange rate, it is as indicated by Central Bank – N305. With respect to the target, it is 2.3 million barrels per day.
“NNPC had assured that this country has capacity more than 2.3 million barrels per day. Consequently, we have a lot of constraints. Some of the constraints have to do with cash call investment.
The minister continued: “We are also committed in the MTEF FSP to explore ways of raising additional revenues to reduce the debt service to revenue ratio.
“It is part of the policy of this government to make sure that out borrowing is controlled and to keep a reasonable debt service to revenue ratio which will help to bring down interest rate”.

TSA: FG DISCONTINUES $793.2M SUIT AGAINST 7 COMMERCIAL BANKS
source : http://www.eyesoflagos.com/2017/08/tsa-fg-discontinues-7932m-suit-against.html

The federal government yesterday filed a notice of discontinuance of the suit it filed against seven commercial banks seeking the remittance of the sum of $793,200,000 allegedly hidden with them in contravention of the Treasury Single Account (TSA) policy.
The notice of discontinuance dated the 7th of August was brought pursuant to Order 50 Rule 2 Subsection 1 of the Federal High Court Civil Procedure Rules of 2009.
Counsel to the Federal Government, Prof. Yemi Akinseye-George told Justice Chuka Obiozor that the government is making the move in the public interest as it has decided to explore an ‘out of court settlement’ with the banks.
According to reports gathered by Eyes Of Lagos, The government had accused the seven banks of illegally hiding the total sum of $793,200,000 in connivance with some government officials. The money was supposed to be transmitted to the TSA account domiciled in the Central Bank of Nigeria (CBN).
After listening to an ex parte application filed by the Attorney General of the Federation through Prof. Akinseye-Georgeon, on July 20, 2017, the Judge had order the seven commercial banks to temporarily remit the money to the government.
Justice Obiozor specifically directed the banks: United Bank for Africa; Diamond Bank Plc; Skye Bank Plc; First Bank Limited; Fidelity Bank Plc; Keystone Bank Limited; and Sterling Bank Plc to pay the money into the Federal Government’s Asset Recovery dollars account domiciled with the CBN.
The judge had adjourned till Tuesday for the banks to appear before him to show cause why the interim order should not be made permanent.
At the resumed hearing of the case yesterday, Prof. Akinseye-George, informed the court that he had filed a notice of discontinuance of the suit which he said was brought pursuant to Order 50 Rules 2 (1) of the Federal High Court Rules.
The lawyer urged the court to strike out the suit and that the governments’ decision to discontinue the suit was in the larger interest of the public.
“We have decided that the matter is better resolved through other means apart from litigation. We are all Nigerians and we all meant well for the country,” he said.
The applicant added that, “The rules under which the application was brought allows the withdrawal of the suit without seeking the court’s leave.
“The rules also allow the withdrawal of the suit not later than 14 days of serving the defendants. We are still very much within the 14 days, pleadings have not been concluded while issues are yet to be joined.
“For these reasons, I enjoined the court to strike out the suit.”
In their seperate reactions, the lawyers representing all the banks with the exception of Skye Bank Plc, urged the court to rather dismiss the suit instead of striking it out. There was no legal representation for Skye Bank Plc in court yesterday.
In his submissions, UBA’s lawyer, Dr. Ajibola Muraina, disclosed that he was only served with the notice of discontinuance after filing all necessary court papers.
Muraina insisted that issues have already been joined and as such the proper thing to be done by the court is to dismiss the suit and not to strike it out.

DRAMA AT LAGOS AIRPORT AS ABANDONED BAG CAUSES SCARE

There was a palpable fear yesterday morning at the Murtala Muhammed International Airport (MMIA) as an unattended bag at the Hajj and Cargo Terminal of the Murtala Muhammed Airport put fears in the minds of airport workers.

The bag, which was neatly tied was said to have been abandoned at the area where pilgrims process their travelling documents. It was later taken in a bus to the international airport for departure to Saudi Arabia.
A source close to the scene of the incident told Eyes Of Lagos that the bag had been at the spot since Monday evening when some pilgrims from Lagos State arrived and processed their travel documents.

It was gathered that the attention of the Bomb Disposal Unit of the airport was drawn to the bag who in turn brought sophisticated equipment to difuse the alleged bomb.

Reacting to the development, the Federal Airports Authority of Nigeria FAAN issued a statement yesterday to clarify the situation.

Part of the statement signed by the General Manager, Public Affairs, Mrs Henrietta Yakubu, read, “At about 9:30am, an unattended bag was noticed at the Hajj and Cargo terminal, after the departure of the 4th flight for the pilgrims. The Chief Security Officer of the Federal Airports Authority, Hajj and Cargo Terminal as well as the Bomb Disposal Unit were contacted and began the process of finding out the owner and the content of the bag.”

“No one claimed ownership of the bag, so the decision to blow up the bag using an explosive device was made, which in turn caused some panic amongst the second batch of intending pilgrims waiting."

“After detonation, it was discovered that the bag contained some copies of an Islamic guide; meant for pilgrims to guide them with regards to their journey”.
“Passengers are advised to be cautious of their belongings, and ensure that all properties are securely kept .

The Authority would like to assure the general public that there was no Bomb and the Hajj and Cargo Terminal is safe, secure for flight operations.”, FAAN stated.

Source : http://www.eyesoflagos.com/2017/08/drama-at-lagos-airport-as-abandoned-bag.html

UNILAG MANAGEMENT DEBUNKS ONLINE SCREENING RUMOUR
source : http://www.eyesoflagos.com/2017/08/unilag-management-debunks-online.html


Management of The University of Lagos, Akoka yesterday, August 7, 2017, has debunked the claims making round that the institution is set to commence the 2017/2018 online screening from Wednesday, August 9th to Wednesday, August 31st, 2017.
ACCORDING TO REPORTS GATHERED BY EYES OF LAGOS, IN A CIRCULAR SENT BY THE UNIVERSITY MANAGEMENT, THE INSTITUTION DESCRIBED THE TEXT MESSAGE SENT VIA SOCIAL MEDIA AS A SCAM AND CALLED ON THE PUBLIC TO ONLY VISIT THE SCHOOL’S OFFICIAL WEBSITE FOR AUTHENTIC INFORMATION.

“It has come to the notice of the University authorities that a text message is being circulated which advertised that the online registration for the 2017/2018 Screening Exercise for admission will commence from Wednesday, August 9th to Wednesday, August 31st, 2017. This is a scam. The message did not emanate from the University of Lagos. The University website is the only authentic source of information on admissions.”
The management, however, advised the members of the public to ignore this message as the University of Lagos has not commenced the 2017/2018 Admission Exercise.

TINUBU DENIES PURCHASING NEW PLANE
source : http://www.eyesoflagos.com/2017/08/tinubu-denies-purchasing-new-plane.html

A chieftain of the ruling All Progressives Congress, APC, Bola Tinubu, on Tuesday debunked reports that he recently purchased a new airplane.


Mr. Tinubu, who ruled as Lagos State governor between 1999 and 2007, described the report as false, stressing that the publication was partial and unfair in the said report.
THISDAY newspaper had in its July 23 edition said that the former Lagos governor recently purchased a new airplane.
But Mr. Tinubu, in a statement released on Tuesday and signed by his Special Assistant, Ademola Oshodi, said the story was false and the newspaper partisan.
“The THISDAY story of Sunday, July 23, 2017 claiming Asiwaju Bola Tinubu has recently purchased a new airplane is symptomatic of what happens when a publication divorces itself from any pretence of objective and impartial reportage,” the statement said.
“This is what happens when a newspaper becomes a mercenary tool for partisan designs. THISDAY has a partisan axe to grind and it seeks to grind that axe against someone like Asiwaju Bola Tinubu because that is what the paymasters of THISDAY demand of it.
“So eager to be seen as loyal to the whims of its paymasters, THISDAY stands disloyal to the very truth it professes to publish. Rather than practise journalism, this publication now specialises in peddling rumour and manufacturing fake scandal. One of the paper’s favourite excursions into fiction is to publish any and all things false about Bola Tinubu. Why THISDAY has such animus against Tinubu only the paper can answer. That such irrational hatred exists cannot be controverted.”
The statement also faulted the pictures attached to the publication, saying they were doctored and not genuine.

“Tinubu has not purchased a new plane. He is currently using the same plane he has used for over a decade now,” Mr. Oshodi said.
He also explained further that the only plane the APC leader owns is the same plane that was used during the general elections of 2011 and 2015, which aided the APC campaign efforts and eventual victory at the polls.
Mr. Oshodi who claimed that the report was targeted at embarrassing Mr. Tinubu, noted that if an investigation had been carried out before the publication, the ‘fake’ report would have been discarded.
“But these merchants of fake news are more interested in attacking perceived enemies than in enlightening the public as should be the call of a newspaper,” the statement said.
The statement argued that if authors of the publication had checked the photograph they published, they would have noticed that the pictures revealed spaces with different interiors.
“They would have easily seen that (Mr.) Tinubu’s picture was superimposed to a space he has not been,” Mr. Oshodi said, adding that the controversial report was “sensational, shoddy and false.”

HATE SPEECHES BREEDING GROUND FOR GENOCIDE – OSINBAJO
source : http://www.eyesoflagos.com/2017/08/hate-speeches-breeding-ground-for.html

Acting President Yemi Osinbajo yesterday warned individuals and groups against the danger of hate speeches, saying such tendencies have the potential of causing genocide.
According to him, while no narrative is superior enough to displace the nation’s corporate existence, agitations are largely self-serving rather than altruistic.
The acting president gave the warning at a national security seminar on unity in diversity, security and development, organised by the Department of State Service (DSS) in Abuja.
“The witnesses of the horrors of war will not wish it on their worst enemies. Even recalling it may bring back the trauma of that period. The mental and physical scars of war are sometimes so deep that rational thought of something is impugned. But always, hate speech precedes genocide, the greatest tragedy in human history” he said.
Identifying six false narratives causing disunity in Nigeria, Osinbajo noted that the situation is even worse with the social media, a platform that facilitates instant communication of any type of news, most of which are false, divisive and dangerous.
“We must do something about it, we must control it and we must insist that it is not acceptable. Public discourse of any type that is already on the social media, we cannot allow the promotion of it”, he added.
The acting president continued: “I want to advise that we must not repeat the errors of the past. I must also commend the Institute of Security Studies for providing this important platform for reflection on the subject of the corporate existence of Nigeria in its diversity.
“It is easy to take for granted the work that the distinguished faculty here does, but we must remind ourselves that often, the difference between tragedies of human conflict, hate and disunity aid what is said and done or not said and done by those charged with thinking and planning of societies in crucial times”.
Also speaking at the event, former head of state, Gen. Yakubu Gowon, warned that no nation has ever survived multiple civil wars.
Gowon who was chairman of the occasion appealed to youths to refuse to be canon-fodders, just as he warned against hiding under the cover of freedom of expression to promote divisive positions.
He said, “These calls for division are not good for our democracy. What the DSS has done with this seminar is to demonstrate that the state security is primarily about the relentless pursuit of the good of society and its people, not guns and daggers as oftentimes perceived.
“Today, with the various political agitations, the multiplicity of calls for regional autonomy, or calls for restructuring of the federation or outright secession from the country has given birth to emergency nationalist agitators.
“What is definitely wrong is that these individuals and interest groups hide under the constitutional-guarantee of freedom of speech and association to threaten fire and brimstone. All Nigerians should love their country”.
On his part, the director general of the DSS, Lawal Daura, vowed to deal with individuals and groups that threaten the inviolability and sanctity of the Nigerian state.
He said the unity of the nation is a “sacred trust” that links security with governance.
While recognising efforts by some well-meaning individuals to maintain peace, the DG said the Service is worried by the “toxicity” of ethnic agitations.
His words: “In recent times, centrifugal forces have been at work in our great nation, trying their utmost to pull us apart. They have vainly leveraged on our ethnic, geographical and religious cleavages- the key factors that constitute our very rich tapestry of cultural treasure and diversity- to ignite hate speeches and stoke ethnic cum religious tensions nationwide.
“Sundry youth groups and individuals, with diverse subversive agendas have latched unto this latest manifestation of ethno-religious divisions to afflict the national stage and consciousness with their atavistic and retrogressive utterances as well as infantile threats.
“Undoubtedly, these utterances and threats have spawned, in their wake, considerable anxiety among law-abiding, ordinary citizens residing in different parts of the country”.

TOTAL TO BOOST NIGERIA’S OIL OUTPUT BY 200,000 BPD NEXT YEAR
source : http://www.eyesoflagos.com/2017/08/total-to-boost-nigerias-oil-output-by.html

Total oil yesterday said that it would boost Nigeria’s daily oil production by 200,000 barrels from 2018.
Managing director of Total upstream, Mr Nicolas Terraz said that the additional barrels would come from the company’s multi-billion dollar Egina Field Development.
Executive director, Corporate Affairs and Services of Total, Mr Biodun Afolabi, spoke on behalf of Terraz at the on-going 2017 Nigerian Annual International Conference and Exhibition of the Society of Petroleum Engineers in Lagos
Eyes Of Lagos gathered that, According to the chief executive officer, the Egina Field Development will come on stream in 2018.
The managing director, who made the disclosure at the, restated the company’s unflinchingly commitment to the future of Nigeria.
“The company is at present along the value chain from upstream to the downstream sector where Total is a leader, with close to 550 service stations across the length and breadth of Nigeria. In the last five years, the Total Group has invested US$10 billion in the Nigerian oil and gas sector.
“Today, we have expertise and strong positions in the onshore, offshore and deep offshore. Our Egina Field Development, which is near completion, is expected to add 200,000 barrels per day to Nigeria’s output, when it comes on stream in 2018,’’ he said.
Meanwhile, contrary to the reports of its indebted to the Nigerian National Petroleum Corporation (NNPC) and Petroleum Products Marketing Company (PPMC), Total Nigeria Plc, said it was not and never indebted to both entities, outside the ordinary course of business.