₦airaland Forum

A Peoples’ Democratic Party (PDP) presidential aspirant, Alhaji Sule Lamido, has described Nigeria’s economy, politics and social life under President Muhammadu Buhari as ‘scary’.

“Anybody in my age who has seen this nation getting to this level under President Buhari will be scared about happening now,” Lamido declared in Maiduguri, Borno’s capital in an interview with newsmen shortly after meeting PDP delegates in the state ahead of his party presidential primaries.

The former Jigawa State governor said the nation’s core value was lost under the Buhari government. He said people no longer took human life seriously as killing of innocent persons spread across the country.

Lamido also said he is seeking the presidency of the nation to restore confidence and give youths hope, noting that the youths should be reoriented and equipped economically.

He continued, “The youths have been reduced to political thugs and touts. I am disturbed about comments i read on the social media by our youths.”


He said his major vision for the nation if given his party ticket and elected as the country president, was to give all Nigerians sense of belonging devoid of religious or tribal sentiments.

Lamido, who was foreign affairs minister during President Olusegun Obasanjo’s tenure (1999-2007), alleged that the Federal Government has been harassing and intimidating opposition, using anti-corruption crusade as a tool.

Earlier while addressing PDP delegates, Lamido said the country needed an experienced political leader like him. He said he was part of the founding fathers of PDP in 1998.

He said those who founded the party came from different religious and ethnic backgrounds, urging the delegates to eschew religion or ethnicity in the choice of their presidential candidate and other elective positions.

“We all came from diverse ethnic groups. Religion was not an issue because our goal was to have one Nigeria. Today, the story is different. We are more religiously and ethnically divided under the APC government,” he claimed.

http://www.akelicious.net/2018/08/nigerias-situation-under-president.html

The volatile pattern of the market, occasioned by the ongoing anxiety in Nigeria’s political environment has continued to drive cautious trading by investors on the Nigerian Stock Exchange (NSE), as the All-share index depreciates by 0.3% yesterday.

Last week Thursday, the NSE’s All-share index had opened on a sharp gap down in the morning session, which was sustained until afternoon, as high cap stocks that had suffered losses appreciated in price, before retracing up.

Also, at the end of transactions on Friday, the gains recorded on the previous session were enough to push the indices further.


However, at the end of yesterday’s transactions, the previous trading day’s positive trend was reversed, as the gains were not enough to push the indices further.

Specifically, All Share Index (NSE-ASI) shed 114.81 absolute points, representing a decline of 0.32 per cent to close at 35,311.36 points.

Also, the market capitalisation declined by N42 billion to close at N12.891 trillion.

The negative performance was driven by profit taking in Dangote Cement, Unilever Nigeria, UAC of Nigeria, GlaxoSmithKline Consumer Nigeria and Ikeja Hotel.

Analysts at Codros Capital Limited said: “Our outlook for equities in the near to medium term remain conservative, in the absence of a near term one-off positive catalyst; and more so, amidst brewing political concerns.

However, stable macroeconomic fundamentals remain supportive of recovery in the long term.”


Market breadth closed positive, with 26 gainers versus 14 losers.

Diamond Bank and Niger Insurance recorded the highest price gain of 10 per cent each, to close at N1.21 and 44 kobo per share, respectively, while Flourmill Nigeria followed with a gain of 9.77 per cent to close at N23.60 per cent.

Linkage Assurance appreciated by 9.46 per cent to close at 81 kobo, while Jaiz Bank rose 8.33 per cent to close at 52 kobo per share.

On the other hand, First Aluminium led the losers’ chart by 10 per cent, to close at 36 kobo per share.

Ikeja Hotel shed 9.68 per cent to close at N2.52, while Universal Insurance depreciated by 9.09 per cent to close at 40 kobo per share.

Japaul Oil declined by 7.69 per cent to close at 24 kobo and Secure Electronic Technology shed 4.76 per cent to close at 20 kobo per share.

The total volume traded depreciated by 66.12 per cent to 178.81 million shares, worth N2.02 billion, and traded in 2,981 deals.

Transactions in the shares of Nigerian Aviation Handling Company topped the activity chart with 19.23 million shares valued at N73.05 million.

http://www.akelicious.net/2018/08/bears-emerge-as-index-drops-by-03-amid.html

resident Muhammadu Buhari has commended the Kingdom of Denmark for entering into partnership with the Kaduna State Government to establish Dairy Farm in the State.

President Buhari said the initiative would go a long way in curbing clashes between cattle herders and farmers in the country.

Receiving the Ambassador of the Kingdom of Denmark, His Excellency, Mr Torben Gettermann, in a farewell audience at State House, Abuja, the President noted that establishment of dairy farms, as being promoted by the Kingdom of Denmark, “will save the country from the almost perennial problem of clashes between herders and farmers, made worse by population explosion.”

President Buhari observed that when the dairy farms are “economically viable, the cattle herders will see the need to stay in one place, as they will realize that productive considerations, rather than the number of heads of cattle, are more important.”


Explaining the concept of dairy farming further, Ambassador Gettermann, said the plan was to have 1,000 families of herdsmen with 12,000 heads of cattle in a location, where they will have veterinary attention, schools for their children, and generally live as a small community. A Danish company, Arla, will then buy the milk off the cattle farmers.

According to Chief Femi Adesina, Special Adviser to the President on Media and Publicity, the Danish government will bring investors through its Agriculture Counsellor in the country, while the Kaduna State government will provide initial infrastructure and funding.

The statement noted that, “Dairy farming is not exactly the same thing as ranching. It will yield better meat, and the Danish company will buy the milk from the farmers. A pilot project will start in Kaduna, and then move to other locations, as it becomes commercially viable.”

After 40 years in the service of his country, Ambassador Gettermann is proceeding on retirement.

http://www.akelicious.net/2018/08/president-buhari-commends-denmark-for.html

The Lagos State Government has reassured residents and motorists of seamless traffic movement during the three-day closure of Third Mainland Bridge for investigative maintenance test, which commenced Thursday and expected to end midnight tomorrow, Sunday, August 26th.

The state government also disclosed that following persistent indiscriminate parking of articulated trucks, particularly on Eko and Carter Bridges, plans were on to subject both bridges and others to integrity test, specifically to ascertain their durability in years to come. The state Government stressed that the test would be conducted on the facilities after the articulated trucks that have converted them to parking lot would have been evacuated in few weeks. State’s Commissioner for Transport, Mr. Ladi Lawanson, made the remarks, yesterday, at a press briefing on the update of the closure of Third Mainland Bridge, in Alausa, Ikeja.

http://www.akelicious.net/2018/08/third-mainland-bridge-day-1-we-feel.html

The life of an 18-year-old secondary school-leaver, Amadu Atajan, has come to a tragic end after he was allegedly tortured by some soldiers attached to the Special Task Force, Sector 7, Sha District, in the Bokkos Local Government Area of Plateau State.

Atajan, who gave up the ghost on Wednesday, reportedly died from internal injuries he sustained in the hands of the soldiers.


Akelicious learnt that the victim was assaulted on the account of his friend who reported a case of a stolen phone to the men sometime last week.

It was gathered that Atajan had attended the friend’s secondary school graduation in July during which he collected his Android phone to take pictures.

While the fun went on, another friend of the host was said to have collected the phone from Atajan under false pretences of using it to take pictures.

The friend allegedly left the event surreptitiously with the phone while efforts to locate him proved abortive.

Our correspondent learnt that Atajan pleaded with his friend to give him time so he could raise funds to buy another phone.

A native of the community, John Akans, who spoke to Akelicious on the telephone on Thursday, said Atajan’s friend agreed to the plea, but made a U-turn last week and reported the case to the soldiers.

He stated that the soldiers took the 18-year-old to their base and beat him up until he went into a coma.

Akans, who posted the picture of the victim on Facebook while he was on a stretcher, said he was rushed to the general hospital in the neighbourhood.


He said, “About one month ago, his (Atajan’s) close friend invited him to his secondary school graduation. The friend gave him an Android phone which they used to take pictures. Somebody came and begged him to give him the phone so he could use it to snap. He innocently gave him the phone, but the boy disappeared with the phone. They looked for him within the school premises but could not locate him.

“The victim begged his friend that he gave the phone to the boy innocently. He begged the friend that his father would deal with him if he knew about the phone. He asked the friend to give him time to pay for the phone. They agreed on that arrangement.

“All of a sudden last week, the friend reported him to some soldiers at Sector 7 of the Special Task Force, who invited him. He told them that he never knew the boy would flee with the phone and that he had pleaded with his friend to give him time.”

Akans told our correspondent that Atajan’s explanation fell on deaf ears as the soldiers reportedly tied him up and beat him with iron rods.

“Before he died, he narrated how he was tortured. He said, the soldiers hanged him upside down and tied his hands to his back. They beat him with iron rods and sticks.

“He collapsed and was rushed to Bokkos General Hospital. He was revived at the hospital but after three days, his condition worsened. It was discovered that he had internal bleeding as a result of the torture. Unfortunately, he passed on on Wednesday. He was 18-year-old; he just finished secondary school.

“This matter must be treated seriously and urgently. Nigerians must not be killed by security agents who are supposed to protect them,” Akans, who is based in Jos, the state capital, added.

The deceased’s parents, who live in the remote community, could not be reached on the telephone for comments as of press time.

When contacted on the incident, the Director, Army Public Relations, Brig. Gen. Texas Chukwu, said he was on an official assignment in Borno State and directed our correspondent to the acting Director, Defence Information, Brig. Gen. John Agim.

A text message sent to Agim had yet to be responded to as of press time.

http://www.akelicious.net/2018/08/soldiers-torture-18-year-old-to-death.html

The Nigerian Army said it had successfully neutralised three insurgents during an ambush in Mayanti Village in Bama Local Government Area of Borno State on Friday.

Brig.-Gen. Texas Chukwu, the Director, Army Public Relations, disclosed this in a statement released in Maiduguri on Friday.


He said the terrorists were neutrialised by troops of 151 battalion.

Chukwu said that weapons which include three AK 47 rifle, 3 Magazines, 32 rounds of 7.62mm special ammunition, one motorcycle and two android phones were recovered from them.

He said that effort were made to get the other fleeing members of the Boko Haram terrorists.

http://www.akelicious.net/2018/08/nigerian-army-neutralises-3-boko-haram.html

Gov. Ifeanyi Okowa of Delta has signed into law the Delta State Public and Private Properties Protection Bill 2018 which outlaws illegal collections and forceful entry by touts into development sites.

Okowa also on Friday in Asaba, assented to the Delta State Oil Producing Area Development Commission (DESOPADEC) Amendment Bill 2018.

The governor after signing the bills said that harassment of property developers by touts in the name of “deve” had chased away a lot of developers from the state.

He, however, expressed confidence that with the signing into law of the bill prohibiting illegal and forceful entry into development sites, the state would witness speedy development.

“We will collaborate with the State House of Assembly to ensure that laws are passed to impact positively on the lives of our people.

“I am glad that this bill to prohibit the forcefully entry into public and private properties has been signed into law.


“It will stop youths from trespassing into property development sites in the state and make investment to thrive.

“This prohibition will impact on the lives of our people and bring investment sanity into the state,” Okowa said.

The governor said that the amendment of the DESOPADEC law was meant to ensure that no vacuum was created in the leadership of the commission.

He added that government could now extend the tenure of the board under given circumstances.

He commended the state legislature for its cordial relationship with the executive in bringing development to the people.

Earlier, the Speaker of the House, Sheriff Oborevwori, while presenting the bills to the governor, said that the bills passed through all the processes required for them to be passed.

He also added that they were meant to impact positively on the people of the state by ensuring peace, boosting the economy and bringing development to the state.

http://www.akelicious.net/2018/08/gov-okowa-assents-to-bill-prohibiting.html

The African Democratic Congress (ADC, has countered President Muhamadu Buhari’s claim of good governance in the last three years.

President Buhari had said that members of the opposition cannot fault the efforts his administration had made in its three major areas of focus, namely security, economy and the fight against corruption.

Buhari stated this in a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu on Thursday in his hometown, Daura, Katsina State, while hosting some state governors elected on the platform of the ruling All Progressives Congress, some federal and state lawmakers and state commissioners to a lunch.

Buhari said he would continue to do what he was expected to do in the leadership position God had given him.
Disagreeing with Buhari’s claim, the Chairman of the African Democratic Congress, Chief Okey Nwosu, said it was unfortunate that Buhari had converted the exalted office of the President to a “lie manufacturing plant.”
Nwosu, whose party has been endorsed by former President Olusegun Obasanjo, said statistics from every credible organisation and even agencies of government showed that poverty and unemployment had worsened.

He further stated that the crisis in the Middle Belt had reached unprecedented levels under the Buhari administration and it was therefore deceptive of Buhari to claim that he had effectively tackled insecurity.
The ADC chairman said “Transparency International had exposed Buhari’s anti-graft war for the sham that it was and subsequently urged the President to focus on improving the lives of Nigerians rather than propaganda.
“Buhari has turned the Presidency into a lie manufacturing plant. He has no right to evaluate himself. It is Nigerians that are supposed to assess his performance. However, the facts speak for themselves. Under Buhari, poverty and unemployment have worsened.
“He claims to have effectively tackled insecurity but every day new IDP camps are springing up. I recently returned from Borno State where I saw IDP camps all over the place.”

Full details at http://www.akelicious.net/2018/08/buhari-govt-full-of-lies-says-adc.html

The Ogun State Police Command says it has arrested a priest, Lekan Olukolu, for the death of a 25-year-old woman, Idowu Ogunkoya, who allegedly died in his shrine.

The police added that the suspect was arrested on Sunday, August 19, 2018.


The state Police Public Relations Officer, Abimbola Oyeyemi, said the suspect was arrested following a complaint lodged by one Lucky Oghenetega.

He said Oghenetega reported at the Ago Iwoye Police Division that the deceased, who was his fiancé, was taken to the shrine of the priest by her parents for spiritual cleansing because they suspected her of witchcraft.

Oyeyemi said Oghenetega further told the police that when the woman got to the shrine, the priest shaved her head and gave her a liquid substance to drink in order to deliver her.

Oghenetega was quoted to have said that the deceased slumped and died immediately after taking the liquid substance.

Oyeyemi said, “On the strength of the report, the Divisional Police Officer, Ago Iwoye division, Adeola Adedoyin, led detectives to the shrine situated at the Ojuolota area of Ijesha Road in Ago Iwoye, where the priest was promptly arrested.”

He was said to have been arrested alongside the father of the deceased one Temitayo Ogunkoya.

The state police spokesman stated that the state Commissioner of Police, Ahmed Iliyasu, had ordered the transfer of the suspects to Homicide Section of the State Criminal Investigation and Intelligence Department in Abeokuta for further investigation.

“The CP also warned members of the public to desist from primitive and barbaric ways of dealing with matters, especially issues that have to do with human life,” Oyeyemi said.

http://www.akelicious.net/2018/08/priest-nabbed-for-death-of-woman.html

The Academic Staff Union of Universities (ASUU) has warned of the dire consequence that will befall academic progress in Nigeria if authorities continue to starve the nations’ universities of funds.

The Zonal Co-ordinator, ASUU Owerri Zone, Uzo Unyebinama, who stated this while addressing members of the union in Awka, Anambra State, yesterday, blamed the situation termed, ‘abysmal condition of universities in Nigeria,’ largely on the absence of funding by the proprietors/management of universities.

In another development, Osun and Oyo state governments have been accused by ASUU of unparalleled insensitivity over the crisis rocking the Ladoke Akintola University of Technology (LAUTECH).

The union said the inability of both state governments to fund LAUTECH and pay the emoluments of members of staff of the university jointly owned by them is indicative of gross incompetence.

Onyebinama, who spoke at a press conference held at the University of Port Harcourt yesterday, said the union would resist any attempt by the two state governments to deliberately shift the burden of funding of LAUTECH to indigent students through outrageous regime of tuition fees. He said the attempt to impose another charges as means to shore of revenue for the university would be seen as a calculated attempt to deny poor access to university education.

“LAUTECH has continued to have problems of very poor funding since 2013 due to failure by owner-state governments of Oyo and Osun to take over responsibility of funding the university. They owed members of staff 10 months salaries arrears, 2013 – 2017 promotion arrears and 2009-2017 Earned Academic Allowance (EAA).

“There is no evidence of interest development at LAUTECH since inception of the present Oyo/Osun governments. In view of this ugly situation, members of staff, students, as well as their parents and sponsors, have been subjected to untold hardship,” he lamented.

http://www.akelicious.net/2018/08/ASUU-decries-lack-of-funds-in-varsities.html

There are indications that Shell Petroleum Development Company (SPDC), Nigeria’s highest crude oil producer with over 600, 000 barrels per day, has so far suspended the production of 800 million barrels worth $560 million as its Trans Ramos Pipeline (TRP), remains shut. The TRP that has capacity to deliver about 100 barrels per day, bpd to Trans Forcados Pipeline was shut in May 2018, because of leakage at different points.
Investigations showed that the pipeline has not been re-opened, barely over three months of shutdown. At the current price of $70 per barrel in the international market, the suspended output amounted to $560 million. Meanwhile, the company has embarked on clean up targeted at recovering the spilled oil from the environment. A statement sent to Vanguard over the weekend read: “The Shell Petroleum Development Company of Nigeria Limited (SPDC), has recovered over 95 per cent of spilled oil from the recent spill incidents on sections of the Trans Ramos Pipeline (TRP) in Aghoro community, Bayelsa State, and in Odimodi community in Delta State. “The pipeline, which has remained shut-in since the incidents, supplies crude to the SPDC Joint Venture-owned Forcados Oil Terminal in western Niger Delta for export.” It stated: “A spokesperson for SPDC acknowledged the spills as very regrettable, adding that in line with the standard operating procedures of SPDC, the TRP was shut down immediately the incidents were reported and the Oil Spill Response and the Emergency Response teams were activated to manage the incidents and prevent further spillage. “As soon as clean-up and site assessment are completed, we are committed to starting the immediate remediation of the impacted areas in Aghoro and Odimodi.” It added: “Details of the cause and impact of the spills will be captured in the Joint Investigation Visits (JIV) reports, which will be released after sign-off by all parties. “The JIV is a multi-party exercise involving the regulators, the community, representatives of the state government, security agencies, and representatives of SPDC. The outcome is then signed off by the stakeholders to authenticate the findings.” The company also stated in its latest report that: “The Shell Petroleum Development Company of Nigeria Limited (SPDC), as operator of SPDC Joint Venture (SPDC-JV) facilities is committed to operating SPDC-JV facilities in a responsible manner with due regard for the environment. When spills occur from SPDC-JV facilities in the Niger Delta we respond as quickly as possible, no matter what their cause. “Oil spills due to crude oil theft and sabotage of facilities, as well as illegal refining cause the most environmental damage from oil and gas operations in the Niger Delta. Irrespective of cause, the SPDC JV cleans up and remediates areas affected by spills originating from its facilities. “A key priority for Shell is to achieve the goal of no spills from its operations. No spill is acceptable and we work hard to prevent them. Regrettably, in addition to spills caused by criminal activity there were nine operational spills of more than 100 kg in volume from Shell companies in Nigeria facilities during 2017. This number is one more than the eight spills in 2016. “SPDC has publicly reported oil spill statistics annually since 1995 in the Shell sustainability report and this website further enhances transparency on spills in Nigeria from SPDC-JV facilities. It tracks the progress of our spill response from when we learn about the leak to when clean-up is completed and certified by regulators.” It added: “When a leak is identified, production is suspended and efforts made to contain any spilled oil. We regularly test our emergency spill response procedures and capability to ensure staff and contractors can respond rapidly to an incident. In line with government regulations, a JIV team visits the spill site to establish the cause and volume of oil spilled. The team comprises representatives of SPDC, regulators, government security agencies, state governments and communities sometimes with local NGOs as observers. “The SPDC-JV cleans and remediates the area impacted by spills from its facilities, irrespective of cause. In the case of operational spills, it also pays compensation to people and communities impacted by the spill. Once clean-up and remediation are completed, the work is inspected, and if satisfactory, approved and certified by Federal Government of Nigeria regulator National Oil Spill Detection and Response Agency.”

http://www.akelicious.net/2018/08/shell-suspends-8m-barrels-worth-560m-as.html

On the orders of the Abia State High Court, Umuahia, the premises of two hospitals based in Umuahia and a hotel based in Aba were have been sealed and their business activities suspended.

The sealed premises were those of Life Essential Hospital and Marantha Hospital both in Umuahia and Lakeshore Hotels and Suite Ltd in Aba.They were said to have failed to remit the sum of N13, 174,663.92, N13, 174,663.93 and N9, 841,914 respectively to the Abia State Revenue Service as PAYEE agents.made the orders in the suits brought against the defendants individually by the state board of internal revenue.Justice Wogu ruled that the trio failed to remit on demand when the said sums of money became due to the State Revenue Service within the time limited by the demand as PAYEE tax Agents.

“And that it has been proved on oath that the PAYEE Tax audit report and demand notice have been duly served on the defendants aforesaid in accordance with the Abia State Board of Internal Revenue Law No 7 of 2008 and the remittance was not made,” the judge held.

About twenty such sealing of premises of banks, factories, commercial houses, hotels, Electricity Distribution Companies, Education and Research Institutions etc had been effected in the past.

Chairman of the state BIR Mr Ugochukwu Ogbonna warned tax defaulters to fulfill their statutory obligations with respect to paying legitimate taxes and levies or risk being prosecuted and having their business premises sealed if the court so orders.

http://www.akelicious.net/2018/08/court-seals-hospitals-hotel-over-tax.html

The Civil Society Legislative Advocacy Centre (CISLAC), Nigeria Police and other stakeholders on Monday set up a system to empower Nigerians to expose corrupt officials.



Mr Kolawole Banwo, Programme Manager, (CISLAC), said this at a one-day Stakeholders Consultation towards Establishment of Steering Committee for the Advocacy and Legal Advice Centre (ALAC) in Abuja.



He said: “CISLAC set up the Advocacy and Legal Advice Centre as a platform for citizens to report cases of corruption so that relevant institutions would address them.



“The role it will play is that it will empower citizens to speak up against corrupt practices, sometimes one of the ways to deter corruption is for the people to actually speak up against it.



“So ALAC educates people on their rights especially rights to social services and rights not to be exploited.



“This is because once they know those rights, they will be able to challenge it when somebody is doing it and then they will have a platform to report to.



“CISLAC will then escalate the cases by revealing them to the relevant institutions mandated to address such cases,” he said.



Banwo said that the stakeholders meeting was organised to discuss about the committee that would be set up for the effectiveness of the ALAC.



Also speaking, representative of the Nigeria Police, ACP Abayomi Shogunle, Head of Public Complaints Rapid Response Unit (PCRRU )said that the unit was established to effectively attend to Nigerians.



Shogunle said that the major aim was also to fight corruption in the Nigerian police force.



“When we say we are fighting corruption in the Nigeria police force, people doesn’t take us serious.



“The truth is we have the figures out there posted on the internet of cases of police officers that have been dismissed as a result of unacceptable corrupt practices.



“We have the data posted on our platform which shows that in the first two years we were able to recover N11.1 million bribe collected by police officers from members of the public,” he said.



Shogunle said that the money was returned to the rightful owners.



According to him, bail is free but due to ignorance on the part of the public and cases of some police officers abusing their office people pay.



He added that recently, the force had dismissed up to six police officers for collecting money for bail and urged Nigerians to report fraudulent officers.



He said the numbers are: 08057000001 08057000002, twitter handle is @PCRRU adding that “we need Nigerians to reach us so we can serve them better”.



Ms Bathsheba Tagwai, Legal Adviser, CISLAC, said that other stakeholders were “National Orientation Agency (NOA), National Human Rights Ommittion (NHRC) and Female lawyers.

Tagwai said others also include the EFCC ,the Independent Corrupt Practices and Other Related Offences Commission, and legal aid council among others.

She said that a committee would be set up to help create synergy between ALAC and the relevant institutions to ease communication and make it more effective to help provide an improved feedback mechanism.

She said this would also help to improve resolutions of cases reported by using their good office to ensure that cases were effectively handled.

This, she said would give voice to the voiceless and also reduce corruption.

http://www.akelicious.net/2018/08/cislac-police-in-new-partnership-to.html

I have always restrained from joining issues in the media with Asiwaju Bola Ahmed Tinubu and this is based on my respect for him. However, I will not allow him to create a wrong, false and mischievous impression about the reasons for my decision to exit the All Progressives Congress (APC) and present his prejudice as facts for public consumption.


I have been consistent in my complaints to all leaders of the APC, including Tinubu, that a situation where the National Assembly is not constructively engaged or carried along in key policy decisions, particularly those that will eventually require legislative approval, is not in the best interest of the nation. No genuine leader of the legislature will be comfortable that the Presidency will simply write a terse letter to the National Assembly on key issues which the federal legislature is expected to later deliberate upon and give its approval. The Buhari administration consistently treats the legislature with contempt and acts as if the lawmaking body should be an appendage of the Executive. To me, this is unacceptable.


In the same way, I find it very objectionable that many stakeholders who worked strenuously to get the administration into office have now been excluded in the government and not consulted on key decisions as necessary and expected. In fact, some of them are treated as pariahs. A party that ignores justice, equity and inclusion as basic pre-conditions for peace, unity and stability cannot sustain its membership and leadership.

Let me redirect the attention of the former Governor of Lagos State to the aspect of my July 31, 2018, statement announcing my exit from APC in which I emphasized that the decision "has been inescapably imposed on me by certain elements and forces within the APC who have ensured that the minimum conditions for peace, cooperation, inclusion and a general sense of belonging did not exist"

In that statement, I further noted that those APC elements "have done everything to ensure that the basic rules of party administration, which should promote harmonious relations among the various elements within the party were blatantly disregarded. All governance principles which were required for a healthy functioning of the party and the government were deliberately violated or undermined. And all entreaties for justice, equity and fairness as basic precondition for peace and unity, not only within the party, but also the country at large, were simply ignored, or employed as additional pretext for further exclusion. The experience of my people and associates in the past three years is that they have suffered alienation and have been treated as outsiders in their own party. Thus, many have become disaffected and disenchanted. At the same time, opportunities to seek redress and correct these anomalies were deliberately blocked as a government-within-a-government had formed an impregnable wall and left in the cold, everyone else who was not recognized as “one of us”. This is why my people, like all self-respecting people would do, decided to seek accommodation elsewhere".


Tinubu himself will recall that during the various meetings he had with me at the time he was pursuing reconciliation within the APC, I raised all the above issues. I can also vividly recall that he himself always expressed his displeasure with the style of the government and also mentioned that he had equally suffered disrespect from the same government which we all worked to put in office. I also made the point that whatever travails I have gone through in the last three years belong to the past and will not shape my decisions now and in the future.

However, during those meetings, the point of disagreement between Tinubu and I is that while I expressed my worries that there is nothing on ground to assure me that the administrative style and attitude would change in the next four years in a manner that will enable us to deliver the positive changes we promised to our people, he (Tinubu) expressed a strong opinion that he would rather 'support a Buhari on the hospital stretcher' to get a second term because in 2023, power will shift to the South-west. This viewpoint of Tinubu’s was not only expressed to me but to several of my colleagues. So much for acting in national interest.


It is clear that while my own decision is based on protecting the collective national interest, Tinubu will rather live with the identified inadequacies of the government for the sake of fulfilling and preserving his presidential ambition in 2023. This new position of Tinubu has only demonstrated inconsistency — particularly when one reviews his antecedents over the years.

Again, let me reiterate my position that my uncertain and complex relationship with Tinubu has been continually defined by the event of 2014 when myself and other leaders of the APC opposed the Muslim-Muslim ticket arrangement about to be foisted on the APC for the 2015 polls. It should be noted that he has not forgotten the fact that I took the bull by the horns and told him that in the interest of the country, he should accept the need for the party to present a balanced ticket for the 2015 General Elections in terms of religion and geo-political zones. Since that time he has been very active; plotting at every point to undermine me, both within and outside the National Assembly.

It is a surprise to me that Asiwaju Tinubu is still peddling the falsehood about the fact that my defection is about automatic ticket and sharing of resources. Members of the public will recall that when the issue of my decision to quit APC came to the fore and many APC leaders were holding meetings with me, a newspaper owned by the same Tinubu published a false report about the promise of automatic tickets, oil blocks and other benefits. I immediately rebutted their claims and categorically stated that I never discussed any such personal and pecuniary benefits with anybody. My challenge that anybody who has contrary facts should come forward with them still remains open.

It should be known that Democracy is a system that allows people to freely make their choices. It is my choice that I have decided to join others to present a viable alternative platform for Nigerians in the coming elections. Tinubu and leaders of the APC had better respect this decision or lawfully deal with it. As for me, Allah gives power to whom He wishes. Human beings can only aspire and strive to fulfill their aspirations.


Signed:

Dr. Abubakar Bukola Saraki, CON


President of the Senate

http://www.akelicious.net/2018/08/the-tinubu-rhetoric-my-response-by-dr.html

MTN Nigeria has announced the appointment of Mr, Mazen Mroue as its new Chief Operating Officer (COO), effective Monday, August 6, 2018.

With over 22 years’ experience in the telecoms and ICT industry, drawn from various MTN operations across Africa and the Middle East, Mroue joins MTN Nigeria from MTN Irancell, where he had also served as COO since July 2014.

Before then he was at different times CEO of MTN Uganda and MTN Liberia in addition to which he served as a non-Executive Director of MTN Cyprus and held different leadership roles at MTN Ghana.


In his new role, Mazen is expected to provide leadership and direction to the commercial and technical functions of MTN Nigeria.

Commenting on the appointment, MTN Nigeria’s CEO, Ferdi Moolman said,“Mazenbrings a track record of achievements and a wealth of experience to the team, drawn from telecoms markets across Africa and the Middle East.

“He has proven to be a true asset to our ecosystem, and we are thrilled to have him with us now in Nigeria.”

Mroue who had since resumed work in MTN Nigeria said, “I am excited to join the Y’ellofamily in Nigeria at this exciting time where new technologies are able to shape customers experience and where digital innovations will be key for national development.”

Mazen holds a Master’s degree in Engineering, Intellectual Systems and Networks, and is a graduate of the Harvard University Executive Programme in Leadership Development and Executive Finance from INSEAD.

http://www.akelicious.net/2018/08/mtn-nigeria-appoints-mroue-chief.html

Following the passage into law of a recent amendment to the 2012 Law setting up the Technical University, Ibadan by the Oyo State House of Assembly, the university has now been renamed the first Technical University, Ibadan (Tech-U).

The amendment however does not in any way affect the current status of the institution as a wholly public-owned university.

The Spokesperson of the institution, Mr. Femi Babatunde in a statement said being Nigeria’s pioneer technical university, the addition of the word ‘first’ to the former rendering of the university’s name is deemed necessary to reassert its unique leadership position in the nation’s tertiary education space and beyond.


The statement reads in part; “ the recent amendment provides legal authority for Tech-U to receive grants and to enter into partnerships with public or private sources, other than the Oyo State government.

“Consequently, Tech-U may now solicit and invite private partners to invest in the university, its programmes and objectives.”

The management of the institution reassures the public that the name-change willl not compromise its avowed commitment to running a unique university committed to producing relevant researches and nurturing graduates equipped with adequate technical skills for societal transformation.

“Prospective investors are therefore free to approach the university management wherever they are willing to come in..”

https://www.akelicious.net/2018/08/tech-u-emerges-first-technical-varsity.html

Speaker of the House of Representatives, Hon. Yakubu Dogara yesterday said accountability and prudent management of resources remained critical to making progress as well as meeting the various demands for improved infrastructure in the maritime sector of the economy.

He expressed dismay that the sector was yet to attain the desired and expected status of becoming the hub for international freight and trade in West Africa.

Speaking at the opening of a three-day investigative public hearing by the House Committee on Ports, Harbours and Waterways, chaired by Hon. Patrick Asadu (PDP, Enugu), he regretted that the maritime industry has failed to attract the required local and foreign investment in-flow which is proportionate to its contribution to both the Nigerian and West African economy, despite its great potential and enormous investment opportunities.


Quoting statistics from the National Bureau of Statistics (NBS) in March 2018, Dogara pointed out that Nigeria’s Ports dropped down the global ratings basically due to bad infrastructure.

He noted that major competitors in the region, including Port of Lome in Togo, Port of Dakar in Senegal, and the Port of Cotonou in Benin Republic, all delivered better efficient services than the Nigerian Ports.
“This is really not acceptable,” he said.

He identified some of the problems hindering the performance of the country’s ports to include bad infrastructure, high cost of doing business and low draught at a lot of our major waterways.
He reiterated the need to dredge the nation’s port channels to increase traffic to the various ports and invariably increase economic productivity.

Dogara said:”If we have cargoes going up north to places such as Kaduna, Kano and Maiduguri, such cargoes would not need to go through Lagos, which is already so congested.

“But for this to happen, the channels of other ports need to be dredged. Reports have it that the Lagos water channel is about 14.5 meters deep, while the Port Harcourt and Calabar channels are less than 10 meters deep, which limits their capacity to receive big cargo ships. This explains why there is so much congestion at the Lagos Port.


Full details at[url] http://www.akelicious.net/2018/08/dogara-seeks-accountability-prudence-in.html[/url]

Top Nigerian lender, Fidelity Bank Plc, in strategic partnership with the Bank of Industry (BoI), has launched the Aba Finished Leather Goods Cluster Financing Programme, as part of continuous efforts to promote Made-in-Nigeria goods capable of meeting global standards for export and local consumption.

About N400million in financing provided by BoI will be made available on a quarterly basis to over 300 members of the Leather Products Manufacturers Association of Abia State (LEPMAAS). The funds will be disbursed through the Fidelity Bank, while the Ford Foundation would provide technical support to the artisans.

Speaking at the formal launch of the initiative in Aba last week, the Bank’s Chief Executive Officer, Nnamdi Okonkwo, said the partnership with BoI further underlines the Bank’s staunch commitment to addressing the financing challenges confronting Micro Small Medium Enterprises (MSMEs) in Nigeria.


Noting that the financing scheme will further boost import substitution, Okonkwo, who was represented by the Bank’s Head, Corporate Bank, Obaro Odeghe, pointed out that the loans will enable them procure requisite materials and equipment for production and expansion.Under this scheme, he said the Bank will provide short-term loans with maximum obligor limits of N300,000 to N500,000 to qualified members of LEPMAAS.

According to him, the partnership with BoI is in furtherance of the financial institution’s commitment towards building the next generation of international entrepreneurs in the art of leather products manufacturing in the cluster.

Okonkwo said: “Our long-running support for the growth and development of MSMEs stems from the utmost recognition of their strategic importance, as critical agents of economic development and transformation in Nigeria.

“Under the scheme, we will also provide tailored capacity building support to members of LEPMAAS.”To enhance its Executive governance activities, and support BoI’s planned monitoring of loans under the programme, Fidelity Bank donated an ultra-modern and fully equipped secretariat to LEPMAAS.

The Bank urged beneficiaries of the financing scheme to ensure that loans are repaid to drive sustainability of the financing programme. Also speaking, Managing Director of BoI, Olukayode Pitan, said the programme is designed to provide a tailored bundle of financial and non-financial services including capacity building to qualified members of LEPMAAS.

Pitan explained that finished leather products to which LEPMAAS is a major contributor, accounts for over 80 per cent of the textile apparel and footwear component of the manufacturing sector. According to him, informal computations put yearly revenue from the cluster at over N10billion despite the competing volumes of similar goods being imported.

He said: “By providing low interest, non-collaterised loans, the Bank has provided flexibility for qualified members of LEPMAAS recommended by their line and zonal chairmen to access up to N300,000 towards the procurement of materials to expand and improve their production activities.“The programme is being implemented alongside Ford Foundation and Fidelity Bank Plc. The Foundation will be providing a grant that specifically focuses on strengthening the capacities of the leaders and beneficiaries even as monitoring structures to ensure loan repayments are instituted. Fidelity Bank will provide account management services to the loan beneficiaries.”
Ford Foundation Regional Director, Innocent Chukwuma, said the partnership with BoI is part of efforts to fulfil its commitment to leather manufacturers to encourage local production and increase campaign for adoption of made-in-Aba. To this end, Chukwuma said the Foundation would be staking a grant of $150,000 in the programme to drive social impact and enhance productivity.

http://www.akelicious.net/2018/08/fidelity-bank-boi-unveil-scheme-to.html

The Management of the Abuja Centenary City Plc has said that the project when completed would save the country over $8billion in capital flight.


The Managing-Director of the Centenary Economic City Free Zone, Dr. Ikechukwu Odenigwu, at press conference in Abuja, said the project will accommodate most of the businesses Nigerians seek overseas.


Odenigwe said that the project will provide a 400-bed ultra-modern hospital with latest equipment adding that the design cater for tourist centres and ultra-modern sports facilities, specially meant to rake in foreign exchange from sports tourists all over the world.


The Foreign Investor and the Executive Director, Front Range, Jaimal Shergill noted that his group was replicating the infrastructural wonders they had achieved in Dubai in Nigeria.


Shergill explained that the project has 260 luxury villas, 139 office buildings, 313,697 spaces for hotel suites and service apartments and many others.


The value of the entire contract stood at $18.5 billion with N10 billion already gone in the project as part payment.


The Managing-Director, Nigeria Export Processing Authority, (NEPZA) Barrister Emmanuel Jime, said that the project came at a time the country is diversifying its economy, saying it is a sure berth for economic buoyancy.

http://www.akelicious.net/2018/08/fg-saves-80b-in-capital-flight-on-abuja.html

Nigerian Communications Commission (NCC) and the Independent National Electoral Commission (INEC) have met to review the outcome of the report of the joint committee set up early in January on electronic transmission and collation of results.

Prof. Umar Danbatta , Executive Vice-Chairman, NCC, after the meeting with the INEC Chairman, Prof. Mahmood Yakubu, on Thursday, described the forum “as a huge step toward entrenching free, fair and credible elections in the country’’.

He said the joint committee set up seven months ago by the two agencies had worked hard to produce a document on the basis of which elections could be conducted in a manner conducive, credible and transparent.

“This can only be done by leveraging the power of Information Communications Technology.
“So this is to bring to bear global best practices in the way and manner elections are being conducted all over the world,” he said.
Speaking, INEC chairman expressed delight with the way NCC picked up the gauntlet thrown by the INEC and the joint committee.

“When we started we were clear in our minds that we must challenge every national institution to contribute towards free, fair and credible elections in Nigeria.
“We are happy that the NCC has risen to this challenge and we look forward to implementing these recommendations.
“If there are other areas we need your collaborations we hope you will remain open to us to do so.
“But we are very happy that one major national institution has been challenged and has risen to the challenge,” he said.

http://www.akelicious.net/2018/08/inec-ncc-finalize-pact-on-election.html

Pensioners, under the umbrella of Nigeria Union of Pensioners/Federal Contributory Pension Retirees (NUP/FECOPER), on Wednesday, marched to the NUP House in Onireke, Ibadan, the Oyo state capital to the protest non-payment of their retirement benefits.

The pensioners, who carried various placards with inscriptions such as: “Pensioners are suffering’’ and “Save our Souls”, urged the Federal Government to address challenges inherent in the Contributory Pension Scheme.
Spokesman of the pensioners, Mr. Samuel Kojusola, said the Pension Reform Act 2014 as amended directed that retirement benefits should be paid not later than three months after retirement.

He expressed displeasure that many members have not been paid their retirement benefits since June 2017, and appealed to the Pension Commission to facilitate the payment without delay.
Kojusola said, “It has also come to the notice of the union that some of our members who retired between July and December 2007 have had their pension terminated since October 2017.
“Does this mean pensioners are to receive pension for only 10 years, despite an assurance that Contributory Pension retirees, especially those on programmed withdrawal, will draw pension for life? We need clarifications on these issues.”

Kojusola also called for an implementation of 15 and 33 per cent increase in pension, payment of accrued interest on bonded entitlements since 2004, as well as full payment of salaries as pension to qualified professors.

http://www.akelicious.net/2018/08/photos-pensioners-protest-non-payment.html

Ahead of the September 22 governorship poll in Osun State, one of the gubernatorial aspirants on the platform of the Peoples Democratic Party (PDP), Professor Adeolu Durotoye has dumped his party.


He has been picked as running mate of the standard bearer of the Action Democratic Party (ADP), Chief Moshood Adeoti.

Adeoti, a former Secretary to the Osun State Government (SSG) made this disclosure in Osogbo, through his media aide, Mr Kayode Agbaje.

Speaking on his defection, Durotoye, a professor of political science in Afe Babalola University Ado Ekiti (ABUAD), said, “it is true absolutely that I have left the PDP and have been picked as running mate to the governorship candidate of the ADP”.
While explaining his rationale for dumping the PDP, he stated that “you should know when to jump out of a sinking ship and you saw what has been happening and you can see the trend that that ADP has emerged as the only credible alternative to misrule and lack of focus and agenda in Osun State”.
Durotoye further stressed that “if you have been following the trend of defection lately in Osun, only yesterday about 6,000 people defected from the APC to ADP. Today, a special adviser to Governor Rauf Aregbesola defected to our party, ADP. Many more defections are coming. Political party is made by the quality of the people in the party.”

“This isn’t a question of newness, people are yearning for a positive change and not a negative change or any kind of change. They know that APC is the only party now that can deliver that positive change”, he asserted.

http://www.akelicious.net/2018/08/osun-2018-durotoye-dumps-pdp.html

Press Release

You Are A Cheap Blackmailer - Group Slams Ben Bruce

Our attention has been drawn to the baseless, cheap and careless allegation leveled against uncommon Senator Godswill Akpabio by Twitter-Senator Ben Bruce claiming that Chief Akpabio masterminded the incidence that took place at the National Assemble today.

How can a Senator with the right frame of mind allege that Chief Akpabio is the instigator of the crisis that took place at the National Assembly and then rely on such cheap blackmail to petion the American and the British Embassies in Nigeria; asking them to revoke uncommon Senator Akpabio's visas.

If dishonourable Senator Ben Bruce has any personal issue with Chief Akpabio, we ask him to look elsewhere to express his bitter feelings towards him and not use the incidence at the National Assembly to blackmail him cheaply.

Senator Akpabio has served this country in various capacities and has never been found wanton or involved in any undemocratic process and we therefore wonder how dishonourable Senator Ben Bruce came up with his false allegation against him.

Hence, we found the allegation by dishonourable Senator Ben Bruce against Chief Akpabio as not only offensive but also a desperate attempt to discredit and disparage him before the right thinking members of the public.

We understand that Ben Bruce has some issues to settle with the Federal Government concerning his mind boggling debt to the Asset Management Company of Nigeria and is desperately looking for a helper who will help him avoid being declared bankrupt as well as taking over his companies.

We therefore urge the American and the British Embassies in Nigeria to ignore dishonourable Senator Bruce over his senseless utterances as that is a sign of a drowning man.

From his various utterances, we are not sure if he does not have an infirmity of the mind because we have watched him over the years and have not seen any meaningful contribution from him other than sleeping around with our young girls in the name of organising beauty pageants.

We therefore advice Mr. Ben Bruce to consult his Doctor before his madness goes out of control.

http://www.akelicious.net/2018/08/you-are-cheap-blackmailer-group-slams.html

Acting President Yemi Osinbajo on Tuesday sacked the erstwhile Director-General, Department of State Security (DSS), Lawal Daura, in the aftermath of the siege on the National Assembly by security operatives acting on his instruction.


Sequel to Daura’s summary dismissal, Osinbajo approved the appointment of Mr. Matthew Seiyefa as the Acting DG of the DSS.

Below is a brief profile of the Acting DG of DSS, Mr. Matthew Seiyefa:


1. Seiyefa hails from Bayelsa State.

2. Before his new appointment, he was Daura’s deputy, being the most senior director in the DSS.

3. He had served as the Director, Institute of Security Studies, Abuja.


4. Seiyefa has about 34 years of experience on the job, and had also served in different capacities, including as State Director in Osun, Akwa Ibom, and Lagos.

5. He is married with children.

http://www.akelicious.net/2018/08/5-things-to-know-about-new-dg-of-dss.html

Society of Petroleum Engineers (SPE) has said Nigeria’s oil and gas sector is fast losing its relevance, given the realities of today’s marketplace.According to the body, an economy like Nigeria that depends largely on the sector was taking an uncalculated risk, as the end might be catastrophic.

It stressed the need to diversify oil-dependent economies like Nigeria “at this stage of our development and its imperative in securing our future.”Speaking at the 42nd Nigeria Annual International Conference and Exhibition (NAICE 2018) in Lagos, the chairman, SPE Nigeria Council, Chikezie Nwosu, said: “In the next half-century or less, the place of oil and gas in the global market may not be very much favourable for such an undiversified economy as ours.

“This is the right time (some say, we may already be running late) to effectively take advantage of the oil and gas industry to drive other sectors of the economy, such as gas, to power our gas-based industries, manufacturing, agro-allied, alternative and renewable energy, banking, ICT, public health, among others, to full maturity and self sustainability.”

The theme for this year’s conference is ‘Diversification of the Nigerian Economy: The Oil & Gas Industry as an Enabler. Nwosu noted that the energy sector remained pivotal in shaping economic development globally. This, he added, was especially so for Nigeria, whose bulk of export earnings is derived from crude oil.
“To remain competitive and relevant in the global economy, the position of the oil and gas industry as the bedrock of the Nigerian economy requires a paradigm shift from a consumer product to an enabler for diversifying the economy,” the SPE boss advised.
Meanwhile, after decades of difficulties in Nigeria over crude theft, pollution and oil-related corruption, Royal Dutch Shell Plc is still optimistic that fossil fuel can improve life in the country.
The Anglo-Dutch oil major wants to develop Nigeria’s domestic energy market around natural gas.According to the Managing Director of Shell Nigeria Gas, Ed Ubong, it is plentiful, harder to steal, better for the environment and can underpin a robust industrial sector that could potentially employ thousands,”
He believes that Shell has done the groundwork to set up a gas-based system, and that the organisation’s influence and large balance sheet can transform Nigeria’s population into a new market, according to a Bloomberg report.
“Imagine if you held maybe $100 million in the United States, would it convince you to set up a factory in Nigeria?” Ubong asked in an interview at Shell’s compound in Port Harcourt.“The first thought companies have is: Do I have power?” he concluded.

http://www.akelicious.net/2018/08/oil-sector-fast-losing-attraction-says.html

The Central Bank of Nigeria has hinted about plans to increase the interest rate as it hopes to tighten the monetary policy in response to higher inflation ahead of the general elections in February.

A Bloomberg report on Tuesday quoted a CBN Deputy Governor, Dr Joseph Nnanna, as giving the indication on Monday on the sidelines of a conference in the resort city of Sharm El-Sheikh in Egypt.


Already, he said virtually all members of the Monetary Policy Committee had supported the idea, that “the Monetary Policy Rate should increase if inflationary pressures build up.”

But finance and economic experts have expressed divergent views on the issue with those opposed to the idea saying increasing the MPR would make it difficult for businesses to raise funds.

According to the report, the MPC has held its key rate at a record 14 per cent since 2016 in a bid to prop up the naira and tame inflation after it spiked to double digits in the same year. While price growth has since slowed to below the monetary policy rate, the panel has shifted from some members voting for rate cuts in January to three of 10 members favouring higher rates at the July meeting.

The CBN Governor, Godwin Emefiele, flagged the delayed passage of the 2018 budget of N9.12tn ($25bn) and pre-election spending as possible price risks in the second half of the year. Nigerians will go to the polls in February next year for a vote in which President Muhammadu Buhari will seek another term.

Nnanna said, “These factors would warrant a rate increase to send the right signal to the public, that the central bank will tighten policy to respond to higher inflation. There’s a scope to raise rates before the elections in February.”

He reportedly voted for a 50 basis-point increase in May. While the individual member statements from the July MPC meeting have not been released, one person voted for 25 basis-point hike and two wanted to raise the rate by 50 basis points.

“The central bank is still in the mood for tightening. How fast are we going to tighten is what members haven’t agreed upon,” he said.

Nnanna said while policy tightening by the United States Federal Reserve was a concern, investors still saw Nigeria as an attractive market, thanks to the stable naira and the yield curve on fixed-income instruments higher than in the US or Europe.


“I am not worried about reversal of capital flows. If any investor wants to exit the market, we shall meet them at the door and write a cheque and give them their money,” he said

Reacting to the issue, in a telephone interview with one of our correspondents, a former Director General, Abuja Chamber of Commerce and Industry, Dr Chijioke Ekechukwu, said while tightening would help curtail the threat of inflation, the burden that would arise as a result of high cost of funds would be transferred to consumers.

He said, “An increase in the interest rate is to achieve a specific goal. It’s either to reduce inflation or to protect the foreign exchange market by reducing importation. Once interest rate increases, it wants to curb importation and protect the local currency because people will not have enough money from banks at cheaper rate.

“When businessmen and women have cheaper funds from banks, there will be so much request for foreign currency. On the other hand, Nigerians would have expected that they would reduce interest rate because when interest rates are increased, the impact will still be on the consumers. It will affect the inflating rate as a matter of fact but the businesses will pass the ultimate costs on consumers and they are the ones that will suffer everything when the rates are increased.”

Also speaking, a professor of finance at the Nasarawa State University, Uche Uwaleke, said the threat of election spending, which might impact negatively on inflation, could force the apex bank to increase the interest rate.

He said, “Single-digit inflation would justify easing monetary policy. This is not yet the case. The impact of largely unproductive expected election spending on inflation has to be factored in. Reducing the MPR may not necessarily translate to lower lending rates by the banks to the real sectors due to poor transmission mechanism from structural rigidities.

“On the other hand, increasing the policy rate will increase cost of funds for businesses, lower productivity and most likely increase non-performing loans for banks since they are likely to re-price their assets.”

The President/Chairman of Council, Chartered Institute of Bankers of Nigeria, Dr Uche Olowu, said the MPC would be taking a right step by increasing the interest rates.

Olowu, who described it as a wise decision, said an increase in interest rate was necessary to compensate for loss of value.

He said the next necessary thing to do when inflation rates start rising would be to raise the interest rates so that money would not lose value.

According to him, there is currently too much money in the economy because of electioneering activities, which will bring about liquidity and eventually raise inflation.

Olowu said, “So, to counter that, interest rates have to be raised. However, the rates should be increased after the elections, and not before. If they increase now, this current government would be of the view that they want them to lose the election, or that they are working for opposition parties. After the election, there is nothing to lose.”

http://www.akelicious.net/2018/08/cbn-may-increase-interest-rate-soon.html

Ekiti State Governor, Mr. Ayodele Fayose has described today’s invasion of the National Assembly(NASS) by armed security men as a coup against democracy as well as Nigeria and its people, saying those with history of collapsing democracy in the country must not be allowed to truncate it now. The governor, who reacted to NASS invasion through his Special Assistant on Public Communications and New Media, Lere Olayinka, said Nigeria was obviously under the worse government in its history.
Governor Fayose said events of late had proven the unprecedented desperation of President Muhammadu Buhari’s APC government, adding that “the sack of the Director General of DSS, Lawal Daura is only face-saving, having failed in their coup-de-tat to topple the leadership of the National Assembly.” He said; “Today is a sad day for Nigeria. It is a sad day for democracy and it is a day that all Nigerians must begin ask what took us to this ignoble state as country and people. Nigerians should ask whether there would have been this APC government if the PDP government of Dr. Goodluck Jonathan had acted this way. “I warned Nigerians not to elect President Muhammadu Buhari because he lacked the required democratic credentials to operate in a democratic society. Even when they started with the invasion of the Akwa-Ibom State government house and later the Ekiti State House of Assembly, some of those who should know then still pretended as if all was well. “In Ekiti, the government house was invaded by armed security men, I was attacked, my deputy was attacked, and the will of the people was subverted. Yet, some people still never saw the danger being posed to our democracy. “Today, we have all seen the results of our silence when this reign of tyranny started. They first sent our economy into recession and they have now plunged democracy into recession. “Today is a sad commentary for democracy in Nigeria and it has gotten to a level that all well-meaning Nigerians and the international community must rise and wrestle the country from the hands of those who truncated democracy in 1983 and are threatening it now.”

http://www.akelicious.net/2018/08/attack-on-nass-coup-against-democracy.html

Dr Chikwe Ihekweazu, the Chief Executive Officer of Nigeria Centre for Disease Control (NCDC) on Monday, says that Nigeria needs N4 billion to tackle infectious diseases.

Ihekweazu said this at the launch of Alliance for Epidemic Preparedness and Response (A4EPR) in Lagos.The launch of A4EPR is aimed at getting major stakeholders in the health sector to combat infectious diseases.

The alliance is an initiative of the Private Sector Health Alliance of Nigeria (PHN) and Nigeria Centre for Disease Control (NCDC).


The PHN is in alliance with NCDC and a coalition of private sector which has in its fold: Dangote Group Plc., MTN Nigeria, Total Nigeria, Shell Foundation and Tony Elumelu Foundation.

The mission of the group is to seek a way forward in bringing intervention to the risk of infectious diseases, draw attention to the need of innovative partnerships in health emergency.

The group also seeks to introduce to the private sector and key stakeholders to the alliance of A4EPR and secure forward commitment and pledge of private sector toward health security.

The NCDC boss, who stressed the need for urgent moves to prevent the spread of infectious diseases, said “Nigeria actually needs about N4 billion to combat infectious diseases. This does not mean that all the monies must come from government; the private sector has a role to play.

“There is the need for financial assistance in critical segments of combating infectious diseases such as infrastructure and equipment which needs about N1.8 billion.

“The infrastructure and equipment are responsible for the machines and test variables while we also need response and logistics of about N700 million.

“In Emergency Stockpile, we need N600 million, for Technology and Innovation segment, we need N600 million, Capacity Development needs N200 million, while Advocacy and Community engagement will require N100 million.”

Ihekweazu said that the agency was mandated with the task of enhancing the countrys preparedness and response to epidemics.

He added that “we are responsible for the prevention, detection and control of communicable and non-communicable diseases.

“The core mandate of the NCDC is to detect, investigate, prevent and control diseases of national and international public health importance.

“We played leading role in the response to the outbreak of Lassa fever, Cerebrospinal Meningitis (CSM) Cholera, Yellow Fever and Monkey Pox.

“For now, we need to be deliberate in our actions because we are not sure of the next outbreak, so we need to have all the facilities intact and also get enough funding.”

http://www.akelicious.net/2018/08/nigeria-needs-n4bn-to-tackle-infectious.html

Sterling Bank Plc, has reported a 63.4 per cent surge in net profit for the first half (H1) ended June 30, 2018.

The lender reported a Profit After Tax (PAT) of N6.2 billion and gross earnings of N77.6billion against PAT of N3.8billion on gross earnings of N57.1 billion during the corresponding period of 2017.

The Chief Executive Officer of the bank, Abubakar Suleiman, said: “We sustained our momentum in the second quarter, delivering solid growth across key financial indices.


We also achieved a 35.9 per cent growth in gross earnings to N77.6billion from N57.1billion in the second quarter of 2017.

“This was largely driven by a 25.1 per cent growth in interest income and a 56.5 per cent growth in transaction banking revenues, emphasizing our commitment to our retail drive.”

Suleiman disclosed that net operating income was up 29.1 per cent, on the back of a 54.8 percent reduction in impairment charges.

“Sterling Bank experienced significant improvement in asset quality as cost of risk declined further by 86 basis points to 0.8 per cent from 1.6 per cent in June 2017, reflecting the strength of our risk management framework.

Overall, Profit after Tax rose by 64.8 per cent to N6.2billion resulting in a 370-basis point increase in Return on Average Equity to 12.2 per cent.”

During H1 2018, the bank launched disruptive market offerings that included Farepay, Specta, and Sterling One Pay.

The most recent innovation, One Pay, is an upgrade of its mobile and internet banking solution in line with its digitisation drive, and promise to continuously innovate to meet customers’ evolving needs.

One Pay is designed to create an omni-channel experience for users by integrating both web-based Internet and mobile banking solutions.

In addition, the bank’s commitment to partnerships also resulted in the deployment of I-invest, a first-of-its-kind investment app that allows retail customers instant access to treasury bills.

I-invest eliminates entry barriers such as lack of education and information to make smart investment decisions and the ability to get a broker and/or time required to visit banks to fill forms for treasury bills.

On the prospect of the bank for the second half of the year, Suleiman said Sterling Bank would continue to explore and exploit opportunities already identified across the growth sectors of the economy while actively supporting special intervention and social investment programmes.

http://www.akelicious.net/2018/08/sterling-bank-records-634-per-cent-half.html

Nigeria’s opposition Peoples Democratic Party (PDP) has decried what it called the harassment of Deputy Senate President Ike Ekweremadu, opposition leaders, and voices of dissent by the ruling All Progressives Congress (APC) led-Federal Government.

PDP’s allegation came barely minutes after Senate President Bukola Saraki returned to PDP which he left in 2014.

The National Publicity Secretary of PDP, Mr. Kola Ologbondiyan, on Tuesday in Abuja, accused the government of misusing the anti-graft and security agencies close to the 2019 general election.

Ologbondiyan said that the current development posed a grave threat to the nation’s democracy and urged the international community to stop the President Muhammadu Buhari-led administration before it becomes too late.

He party was reacting to what it described as a witch-hunt against Ekweremadu by the Economic and Financial Crimes Commission (EFCC).

“Just a few days after the EFCC and over 200 policemen practically held Ekweremadu hostage to prevent the defection of the APC Senators to the PDP, the EFCC has continued to harass Ekweremadu to cover its shame.

“We wish to remind Nigerians and the international community that this is only the newest in the series of attempts to destroy the senator
politically in the run up to the 2019 general elections.

“It is of grave concern to us that while corruption and corrupt persons abound in the APC, the EFCC prefers to chase after innocent members of
the opposition.”

He said while scores of APC members with corruption and fraud-related charges walk free, the anti-graft agencies had continued to harass and dent leaders of the opposition in the name of anti-corruption war.

It warned the APC administration to desist from “highhandedness and witch-hunt of the opposition” in order not truncate the country’s democracy.

“The APC government cannot be allowed to tarnish and destroy opposition leaders just a few months to the general election in the name of fighting corruption,” Ologbondiyan said.

Full details at[url] http://www.akelicious.net/2018/08/stop-harassing-us-pdp-warns.html[/url]

The Kaduna State High Court has freed about 100 members of the Islamic Movement in Nigeria (IMN) also known as Shiites group, that were arrested at various locations following a clash between the group and the Nigerian Army in December 2015.

Justice Shiri Nyom in his judgement discharged and acquitted the sect members of the charges levelled against them as contained in a Press Statement signed by the President Media Forum of the Islamic Movement in Nigeria, Ibrahim Musa and made available to newsmen in Kaduna.

According to the statement, “This judgement has not only vindicated the members of the Islamic movement in Nigeria, but it is certainly a victory for perseverance in the face of extreme persecution. It is a victory for truth and justice against tyranny and impunity.”


The Islamic Movement further stated, “It will be recalled that the Kaduna state government sued almost about 200 members of the Islamic Movement after an attack on the Movement by the Nigerian Army in December 2015 which led to the killing of over a thousand souls, including three sons of the Sheikh Zakzaky, his elder sister and a nephew.


"The attack was sequel to the unlawful invasion of the privacy of their residence and eventual destruction of the house completely. This has been aptly described by several human rights bodies as a massacre. To worsen these flagrant crimes against humanity, bodies of all the hundreds killed were hurriedly and secretly buried in mass graves about 100km away from the scene, apparently in a shoddy attempt at hiding the crime and its magnitude.”


The sect group reiterated its call for the release of its leader Sheikh Ibraheem Zakzaky and his wife who have equally been in the custody of the Director of State Services (DSS).


“We are all aware of the crude tactics of the Kaduna state government led by Malam Nasir el-Rufai all in his devilish plots at perpetuating the persecution against the Islamic Movement and the continued detention as well as incommunicado of Sheikh Zakzaky and his ailing wife in spite of previous court judgement ordering their immediate release from detention, thereby further flaunting his fundamental rights and rights to liberty.


"With this victory in the court today, the false charges filed against them of aiding and abetting the culpable homicide has been punctured for good. We await the response of the Kaduna state government as Sheikh Zakzaky’s case comes up in the next two days. We expect them to respect the judgement of this honourable court and the course of justice to withdraw the fake charges against him and release him with immediate effect.


“As a peaceful Movement, we have kept to our clean tradition of seeking redress through peaceful means without any resort to violence despite deliberate and persistent provocations by the government. Today, Kaduna state government has again failed in court after a fair trial. We therefore give praises to the Almighty Allah for yet another successful outing, which further proves to the world that the Movement and its leader are only victims of impunity and mischievous plots by the El-Rufai-led government,” according to the statement.


The IMN thanked all those that stood by it throughout the trial.


Reacting to the judgement in a statement, Attorney-General/Commissioner of Justice, Hajiya Umma Hikima said the state will appeal the acquittal of IMN members.


She expressed the dissatisfaction of ministry with the ruling of the Honourable Court which she described as perverse and totally lacking in merit saying, "The ruling shall be appealed immediately at the Kaduna Judicial Division of the Court."


According to the statement, "In prosecuting the case, the State called 47 witnesses and tendered several exhibits. The prosecution believes that a compelling case was argued. Therefore, an appeal will be filed to challenge the ruling of the court.


"On 22nd March 2016, after conclusion of investigation by the Nigeria Police, the Kaduna Government through the Attorney General’s Chambers filed a five count charge of Criminal Conspiracy, Culpable Homicide, Unlawful Assembly, Disturbance of Public Peace and Wrongful Restraint under sections 97, 221, 114, 100 and 106 of the Penal Code Law of Kaduna State 1991 respectively against almost 200 members of the sect that were arrested by the Army in Zaria at the scene of crime."


She lamented that the court delivered its ruling and, despite the quality of evidence placed before the Honourable Court, ruled in favour of the accused persons and held that the totality of the evidence led by the prosecution before the court is not sufficient to warrant the accused to be called upon to enter their defence.

http://www.akelicious.net/2018/07/armyshiite-clash-kaduna-high-court.html