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The Senate has expressed concern over alleged huge reduction, by the federal government, of the refund the Central Bank of Nigeria (CBN) asked telecoms giant, MTN, to make, from $8.1 billion to $800 million.


But in a swift reaction last night, the CBN Director, Corporate Communications, CBN, Mr. Isaac Okorafor, denied the alleged reduction of the refund.
“There is no such thing. I have no such knowledge,” he told Akelicious.

The refund had been imposed on the telecoms for currency regulations infraction.
CBN had accused MTN of violating currency regulations by sending $8.1 billion abroad.

It also fined four banks, Standard Chartered N2.4 billion ($7.8 million); Stanbic IBTC Bank N1.8 billion; Citibank N1.2 billion and Diamond Bank N250 million over the fund transfer.
While the telecoms denied any wrongdoing and approached the court for redress, the CBN held out an olive branch, saying it was open to negotiating the refund figure downward.

In fact, the CBN Governor, Mr. Godwin Emefiele, had in October hinted in London of plans by government to slash the $8.1 billion refund MTN was to make, but did not disclose the amount it was intended to be reduced to.

Akelicious reported exclusively last Friday that the MTN Group CEO and President, Mr. Rob Shuter, was in Abuja last Thursday and met with the Emefiele to discuss the refund, adding that based on unassailable findings, there was an agreement that the CBN would grant the telecoms a substantial reduction.

Although the outcome of the meeting and the size of the reduction have not been made public by the apex bank, the Senate kicked yesterday, alleging that a whopping $7.3billion had been discounted without recourse to it.
It has, therefore, mandated its Committee on Banking, Insurance and other Financial Institutions, headed by Senator Rafiu Ibrahim, to probe the alleged reduction by the federal government through the CBN.

According to Ibrahim, Emefiele had in October hinted in London of plans by government to slash the $8.1 billion figure to $800 million.
The senator noted yesterday in a telephone interview with National Assembly correspondents that though the Senate was not particularly against whatever the government would want to do with the MTN refund, it should be informed why the reduction became necessary.
He said, “We’re not against whatever they’re doing, but they will have to explain to Nigerians. Did they take the decision they took against MTN in a hurry, a foreign direct investor like MTN?”

Ibrahim said his committee would immediately demand for CBN report on the matter to be better informed.
According to him, the only way Nigerians would know what transpired between the CBN and MTN on the $8.1 billion refund was through a detailed report.
Ibrahim said, “The last time we heard about this issue was when we had a retreat two weeks ago in Lagos, where they (CBN) did the presentation of their biannual activities to the Senate Committee.
“We took them up on the issue, and the bank, that’s the CBN told us how they did the investigation. We’re taking them up based on the fact that we have investigated and we saw what happened.”

He added that Senate resolutions were passed to the CBN, complaining that the apex bank did not implement them before going into another investigation.
“They said their investigation was based on a petition from a law firm and their stand was that the penalty was correct,” he said, adding, “From the information you have now, it will be ridiculous for them to say they’re bringing the penalty down from $8.1bn to about $800m. That will be ridiculous for the CBN.”
According to him, “What CBN told the committee that day was that they were going to give us the report from when they started the investigation to date and their discussion with MTN.

“So, if that’s the case, they have to answer to Nigerians through us in the Senate committee to the legislature, what informed the penalty of $8.1bn? And what information have they now gathered that informed the reduction to $800m. I don’t know what percentage of reduction you can call that. Is it not up to 1,000?
“We took into consideration the role of MTN in the economy. That’s why we did a very thorough job, and we believe we did a thorough job, that they did not steal any money then, that was our own assertion, though they repatriated. So, we will be interested in the investigation.”

Asked if the committee may likely pursue the matter further, Ibrahim said, “Definitely, I will call the Clerk to ask the CBN that we are expecting their report as promised at the retreat.
“In the report, if we find anything close to this, I will let you know. We will write them and probably give ultimatum for the report. This is a very sensitive thing to the economy.

“All of us know they (MTN) committed a lot of resources in Nigeria; so we don’t want them to be used as a yardstick as to how the Nigerian government treats investors.”
The Senate adopted a report last year largely exonerating MTN of alleged illegal repatriation of $14 billion out of the country.

It also asked the CBN then to sanction Stanbic IBTC Bank “for improper documentations in respect of capital repatriation and loan repayments” on behalf of MTN.
This followed the consideration of the report of its committee on Banking, Insurance and other Financial Institutions, which investigated alleged unlawful repatriation of $14 billion from Nigeria.

Emefiele was quoted to have said during a visit to London, “I don’t think the MTN fine will be staying at $8.1bn,” adding that he expected the issue to be dealt with amicably and equitably.
“I want to believe that the figure will reduce. Whether it will be dropped completely, I honestly cannot say at this time,” the CBN governor added.

https://www.akelicious.net/2018/11/mtn-senate-mounts-pressure-investigates.html

Organized Labour has given the Federal Government December deadline to commence payment of the N30,000 new national minimum wage to Nigerian workers.

This is even as feelers emerged that labour may resume its suspended nationwide strike in the next two weeks should the government continue to foot drag on the implementation of the report of the Tripartite Committee on Minimum Wage.

Besides, Labour warned that any reduction in the N30,000 agreed as contained in the committee’s report to President Muhammadu Buhari or any further delay in its passage would lead to devastating consequences.

The President of Trade Union Congress (TUC), Bobboi Bala Kaigama and the Secretary General of the Association of Senior Civil Servant of Nigeria (ASCSN), Bashir Alade Lawal, gave the warning at the National Executive Council (NEC) meeting in Abuja yesterday.

They both warned that labour would not accept anything less than the N30,000 agreed by the Committee, as Nigerian workers patiently await President Buhari to forward an Executive Bill to the National Assembly for passage into law.

Kaigama stressed the urgent need to fast-track the implementation of the newly agreed national minimum wage.


Specifically, he said the expectation of labour is that the full implementation of the N30,000 would not exceed December.

Minister of Labour and Employment, Dr. Chris Ngige was not available for comment last night.

His mobile phone indicated it was switched off, while his Chief Press Secretary could not also be reached.

But the Deputy Director of Press in the ministry, Mr Samuel Olowookere said he could not comment on the threat by Labour.

“I cannot comment on what I don’t know, I can only speak on what I know with the permission to do so. All I know, which is known to everybody, is that the ministry has concluded its work on the minimum wage and my ‘Oga’ has submitted the report to the president. That is all I can say,” he said.

Though Kaigama stated that he would not preempt President Buhari that the N30,000 agreed through the process of tripartite negotiation could be reduced, he warned that the consequences of reducing or delaying its implementation would be very devastating.

“The Federal Government is advised to avoid any action that can delay or truncate the process of enacting the new Minimum Wage Act as the consequences of allowing that to happen can be very devastating.

“It is worthy of note that the single most important issue agitating the mind of an average Nigerian worker today is that of the new national minimum wage, the report of which was presented to Mr. President on Tuesday 6th November, 2018. It is apt to state that against all odds, the tripartite committee that negotiated the new minimum wage was able to scale all hurdles and agreed to the sum of N30,000 as the new minimum wage for the country.


“It is on this premise that I strongly want to appeal to the Federal Government to fast-track the process of enacting the new national minimum wage into law.

“Our expectation is that the government should be able to complete the entire process before the end of this year so that workers who have waited for so long can begin to enjoy a new lease on life provided by the newly agreed minimum wage.”

The TUC president also regretted that the core civil service, which is the engine room of government, is the least paid in the public service.

According to him, other segments have had their emoluments beefed up over the years.

Kaigama explained that even though civil servants, for instance, possess the same qualifications and experience as their counterparts in the parastatals and agencies, “yet, the salaries of these other employees are, in most cases, three times more than that of officers in the core ministries.”

The labour leader added: “This situation has been made worse by the fact that since 2010 when salary relativity was carried out in the core civil service, no salary increment has been granted to civil servants except for the N900 monthly that was added to the emoluments of senior officers across board after N18,000 was approved as the national minimum wage in 2011.”


Lawal said they were holding President Buhari to his words that he would send the report submitted to him to the National Assembly.

“The way we interpret the president speech is that he said he is going to forward Executive Bill to the National Assembly, and on that we stand. We are not going to accept five kobo drop on that N30,000; we are not going to accept it. We are not going to accept anything less that N30,000. Like I said earlier on, we have mobilised already, we only suspended (the strike). So, we will pick off from where we left. It is not going to be a difficult thing,” he said.

More details at https://www.akelicious.net/2018/11/minimum-wage-again-labour-draws-battle.html

As the 2019 General Elections draw closer, 21 candidates have been cleared by the Independent National Electoral Commission (INEC) to contest for the Plateau governorship seat.

Their names are contained in a list released on Tuesday in Jos by Mr Imahiyereobo Osaretin, the commission’s Head of Voter Education and Publicly in Plateau.

According to Osaretin, the 21 candidates from various political parties have met all the requirements for the governorship election.

The official also said that 279 candidates were cleared to contest election into the 24 Plateau constituencies.

The News Agency of Nigeria (NAN) reports that among candidates cleared for the governorship position are the incumbent Gov. Simon Lalong, who is seeking second tenure under the APC; Lt.-Gen. Jeremiah Useni (rtd) of the PDP and Mr Godfrey Miri of the SDP.

Also listed are Dr Haruna Dabin, a former PDP Chairman in the state but now the candidate of PPC, Mr Timothy Parlong, who is contesting on the platform of APGA, Mr Bitrus Musa of the ADC and Mr John Bigwan, contesting on the platform of GPN, among others.

The list also contains names of running mates of the various candidates.

https://www.akelicious.net/2018/11/20-candidates-battle-lalong-for-plateau.html

The Diabetes Association of Nigeria (DAN) has said that diabetes cases may leap to 642 million by 2040.
It said that people living with diabetes are about 422 million globally.

National President of the association, Dr. Mohammed Alkali, who is also the Chief Medical Director (CMD) of Abubakar Tafawa Balewa University Teaching Hospital (ATBUTH), Bauchi, disclosed this yesterday during the opening ceremony of the 2018 world diabetes celebration and second national diabetes workshop organised by
DAN and held at the hospital.

Full report at https://www.akelicious.net/2018/11/diabetes-cases-may-rise-to-642m-in-2040.html

No fewer than 1,801 persons have been confirmed killed and 50,212 others displaced in recent attacks in Plateau state.

The Committee on Resettlement of Internally Displaced Persons (IDPs), set up by the Plateau Government, made the confirmation on Monday.

AVM Bala Danbaba (retired), Chairman of the committee, presented his report to Gov. Simon Lalong on Monday in Jos.

Danbaba said that the committee identified 115 communities cutting across Jos North, Jos South, Bassa, Riyom, Barkin Ladi and Bokkos Local Government Areas, that were affected by the crises.

He said that the committee, whose one month period was later increased to two months, received 55 memoranda and visited 27 camps where the IDPs were quartered.

“The only IDPs camp we did not visit was the one at Lere, in the Dorowa area of Barkin Ladi Local Government. We could not go there because of security reasons.

“The committee also visited all the affected communities for an on-the-spot assessment,” he stated.

He said the committee had recommended that the IDPs be returned to their ancestral homes, saying that the exercise should be carried out in four phases.

“The committee also emphasised the provision of adequate security in the affected areas,” he said, adding that the IDPs were willing and anxious to return to their homes, if security was guaranteed.

Danbaba suggested that a victim support programme be initiated to reduce their sufferings.

The committee also called for the establishment of temporary camps within the victims’ communities, for them to live in, while their houses were being reconstructed.

Lalong, who received the report, commended the committee for a carrying out a good job, and announced that the 7-man committee would be responsible for its implementation.

Lalong reaffirmed his administration’s commitment to securing lives and property, and condemned insinuations that the state and Federal Governments were doing nothing to end the crises.

“Things might be slow, but in the spirit of “slowly, but surely”, as well as patience, we have been able to make some phenomenal achievements in ensuring that peace returns and is sustained.

“As some of our strategic initiatives in engendering peace and security in the State, this administration attracted the establishment of the 205 Combat and Rescue Units in Kerang.

“We also attracted a Mobile Police Squadron in Shendam, as well as the recent approval to establish Mobile Police Barracks in Gashish District of BarkinLadi.

“All these are in addition to procurement and distribution of security vehicles, equipped with modern communication gadgets,” he stressed.

Lalong also said that he had approved the recruitment and training of neighbourhood watch personnel who had been attached to Operation Rainbow for community policing and intelligence gathering. (NAN)

https://www.akelicious.net/2018/11/1801-persons-killed-in-plateau-attacks.html

The Tonye Cole Campaign Organisation (TCCO) has condemned the sudden directive by Gov. Nyesom Wike for all Internally Displaced Persons (IDP) camps presently housing victims of ravaging flood in parts of Rivers State to be closed down with immediate effect.

Speaking yesterday in Port Harcourt, the Director-General of the TCCO, Chief Chidi Lloyd, PhD took a swipe at Gov. Wike for choosing to compound the sufferings of the victims of flood in Rivers State by ordering the immediate closure of the camps instead of visiting the people and providing them much needed succour.

“It is condemnable for Gov. Wike to ignore calls by well-meaning people to visit suffering flood victims in the Orashi and other areas in Rivers State. Instead the governor has ordered that the IDP camps be closed down even when communities like Odiereke, Akinima and others are still submerged in water with reptiles roaming freely and occupying homes.

“We expect a responsible government to cater for the needs of the flood victims and when the water has completely receded, carry out a comprehensive health audit and possible fumigation before the victims move back to their homes. These our brothers and sisters are likely to face several challenges such as waterborne diseases, rodents and possible snake bites. Even some of their homes may have weakened to the point of collapsing with all the attendant dangers to life."

“What offence did the poor victims of the floods commit against the governor that he should insist on not visiting and providing assistance to the people he governs but instead has chosen to compound their travails by suddenly ordering them out of the IDP camps where they are taking refuge?” Chief Chidi Lloyd queried.

Speaking further, Chief Lloyd appealed to the flood victims about to vacate the IDP camps not to allow their spirit to be broken by the mindless action of Gov Wike because when the unrighteous rules, the people are subjected to all manner of sufferings.

“You can see that whatever is said in the Holy Bible is true. For example, the Bible says in Proverbs 29:2 that only when the righteous are in authority or rule that the people rejoice. Today it is the turn of the flood victims to taste the bad governance of Wike. This is what most of us have tasted and are still tasting.

“But behind every bleak moment in our lives is usually a bright silver lining beckoning. That silver lining is Pastor Tonye Patrick Cole, the governorship candidate of the APC who, by the grace of God, shall become the governor of Rivers State come May 29, 2019.

“As a disciplined and devout Christian, Cole will heal our broken State and provide the much needed reconciliation for all strata of our society. As an astute business achiever, Pastor Tonye Cole will painstakingly rework and realign the economy of Rivers State for the good of present and future generations of the people and residents of Rivers State, Chief Lloyd concluded.

Meanwhile, the APC governorship candidate in Rivers State, Pastor Tonye Cole has donated relief materials and cash worth millions of Naira to the IDP camp in Obedum Community, Odual Kingdom in Abua/Odual Local Government Area of Rivers State.

Making the donation to the flood victims when he visited them on Thursday amidst cheers, praise and worship by the inmates, Pastor Tonye Cole promised to do all within his powers and in synergy with the Federal Government to provide a permanent solution to the floods that annually ravage the area and other parts of Rivers State as soon as he became the governor of the State.

https://www.akelicious.net/2018/11/tcco-condemnes-wikes-directive-to.html

Nigerian officials will go on a roadshow to London next week ahead of a planned $2.8 billion Eurobond sale this month, two banking sources told Reuters on Thursday.

The roadshow, which is being organised by Citi and Standard Chartered, would run from November 12, for three days and be attended by Nigerian Finance Minister Zainab Ahmed.

The Senate had last month approved the issuance of $2.786 billion from the International Capital Market to partly finance the 2018 budget. This was sequel to the presentation at plenary of the report on the implementation of the new external capital raising of $2.786 billion from the International Capital Market approved in the 2018 Act by the Chairman of the Senate Committee on Local and Foreign Debts, Senator Shehu Sani.


In his presentation, Sani had said the committee emphasised the need for the federal government to reduce its request for more external borrowing “and source for other means of generating revenue internally”.

The Senate also observed that the issuance of the bonds will contribute to the implementation of the country’s Debt Management Strategy.

The Director General, Debt Management Office, Ms. Patience Oniha, had explained that in absolute term, Nigeria’s debt stock is not too high, saying “the problem is that we need more revenues so that we are not using a large part of our revenue to service debt.”

https://www.akelicious.net/2018/11/fg-plan-roadshow-ahead-of-28bn-eurobond.html

The Nigerian Army said the situation at Katarko in Gujba Local Government Area of Yobe had been brought under control after troops foiled terrorists attempted attack on the military location in the town.

The army spokesman, Brig.-Gen. Texas Chukwu in a statement on Thursday said that the troops immediately swung into action following a tip off and pushed the terrorists backward with superior fire power.

He, however, said some of the terrorists escaped into nearby bushes but efforts were on to get them, adding that the troops were currently embarking on clearance patrol in the area.

Chukwu urged Yobe residents in general and Katarko in particular, to go about their legitimate businesses and report any suspicious activities or movement in their area to the law enforcement agents for prompt action.

Full details at https://www.akelicious.net/2018/11/army-overpowers-boko-haram-in-yobe.html

The President of the Senate, Bukola Saraki, on Wednesday announced minor changes in the leadership of four standing committees.

By this development, Sen. Lawal Gumau (APC-Bauchi), who was elected into the Senate in August, is now the Chairman of the Committee on Federal Character.

Gumau took over from Sen. Tijani Kaura (APC-Zamfara North), who has been moved to the Police Affairs Committee as Chairman.

Kaura replaces Sen. Abu Ibrahim (APC-Katsina South), who now heads the Committee on Employment, Labour and Productivity.

Former Majority Leader, Sen. Ali Ndume (APC-Borno South) is now the Chairman of the Committee on Establishment and Public Service, formerly headed by Sen Paulker Emmanuel (PDP-Bayelsa Centra).

Full details at https://www.akelicious.net/2018/11/breaking-saraki-reshuffles-committee.html

The Independent National Electoral Commission (INEC) on Wednesday said it would deploy 1, 825 ad hoc staff for the Nov. 17 by-election for the vacant House of Representatives seat in Kwara.

Malam Garuba Madami, the Resident Electoral Commissioner (REC) in Kwara, made the disclosure in his remarks at a stakeholders’ meeting in Omu-Aran, Irepodun Local Government Area.

The News Agency of Nigeria (NAN) reports that the meeting held at the Government Secondary School, Omu-Aran, was at the instance of INEC to interact with the stakeholders ahead of the election.

The by-election is in respect of Ekiti, Isin, Irepodun and Oke-Ero Federal Constituency.

It became vacant following the death of Rep. Funke Adedoyin, who was elected in 2015 on the ticket of APC, but later defected to the PDP.

Ms Adedoyin, daughter of the Nigerian industrialist, Samuel Adedoyin, died on Sept. 28 in a hospital in Abuja.

Madami said that 1,532 of the figure was reserved for serving the youth corps members, while the rest were officials of the commission and other categories of workers.

While giving the breakdown of the election statistics across the four local government areas, he said that the councils consist of 42 Registration Areas (RAs), 330 Voting Units and 383 Voting Points.

He gave the total the number of already collected Permanent Voters Cards (PVCs) across the councils as 122,656, leaving 46, 700 yet to be collected.

The electoral officer expressed disappointment at the low level of PVCs collection in the state, urging the party leaders, traditional rulers and other stakeholders to ensure that the PVCs were collected.

He described the by-election as a litmus test for both the commission and the contending parties ahead of the 2019 general elections.

Madami also expressed the commission’s readiness to conduct a credible, free and fair election that would meet the aspirations of all stakeholders, including the international community.

“Please do not exercise fear; let us conduct ourselves peacefully before, during and after the election in order to achieve the desired aims and objectives,” he said.

Commenting, Oba Abdulraheem Adeoti, the Olomu of Omu-Aran, appealed to the stakeholders to join hands with the electoral body and security agencies in achieving the desired success.

The monarch was represented by Chief Jide Adebayo, the Eesa of Omu-Aran and a retired Director with the News Agency of Nigeria

https://www.akelicious.net/2018/11/inec-to-deploy-1-825-ad-hoc-staff-for.html

Hosting One-on-One Nigeria, a group from South East, President Muhammadu Buhari says his administration is trying its best to re-organise Nigeria after mind-boggling mismanagement of past administrations.

Mr Femi Adesina, the Special Adviser on Media and Publicity to the President, said Buhari stated this when he received a group from the South-Eastern part of Nigeria under the aegis of One-on-One Nigeria, Tuesday night.

Adesina, in a statement in Abuja on Wednesday, quoted the president as saying: “We are trying to organise the country. The extent of mismanagement we met when we came was mind-boggling.

“Many times, I have spoken about the tremendous resources available to us between 1999 and 2014, and how it was frittered.

“If only they had used just 25 per cent of it on infrastructure; road, rail, power, Nigerians would mind their own businesses, and not bother about whoever was in power.

“The casualty figure on our roads daily is simply scandalous. No wonder they are in opposition now, despite all the power they thought they had.”

The group, led by Chief Chido Obidiegwu, said it had keenly observed the strides of the Buhari administration nationwide, particularly in the South-east, “and it is now pay back time”.

He said: “We have seen the work being done on the long-abandoned Second Niger Bridge, roads are being constructed in many parts of the region, and we believe there is every reason to support you for a second term.’’

While describing Buhari as the “grandfather of war against indiscipline and corruption, nightmare of insurgents, Mr Food Security, consolation to pensioners and Mr Frugality,” the group said it was going to mobilise South-easterners to massively vote for him.

The group also believed that one good turn would then deserve another in 2023.

The One-on-One Nigeria also promised to mobilise youth groups, women, artisans, traders and religious groups to massively vote for Buhari, adding that it has all it takes – “courage, drive, verve and vitality”.

The News Agency of Nigeria (NAN) reports that seven men and two women represented the group during the visit.

https://www.akelicious.net/2018/11/buhari-reversing-mind-boggling.html

The Independent National Electoral Commission (INEC) has lamented the “multiple and contradictory orders from courts” arising from political parties’ direct and indirect primaries.

INEC National Chairman, Prof. Mahmood Yakubu, said the development was unhealthy and would not advance the nation’s democracy.

He said: “We don’t want a situation where they would say the commission is disobeying court orders. We want to deliver credible elections in 2019 to move our democracy forward.”


Yakubu, who was represented by the National Commissioner on Voter Education and Information, Dr. Festus Okoye, spoke at the University of Nigeria, Nsukka (UNN), during a Campus Outreach organised by the European Centre for Electoral Support (ECES).

He dismissed rumours that it’s National Commissioners; Amina Zakari has refused to leave office, even after her tenure had elapsed.

The chairman disclosed that to enhance the elections next year, all delivery vans conveying sensitive electoral materials would be tracked from the point of departure, and would be demobilised where necessary.

Meanwhile, the INEC chairman will on November 15, deliver a lecture to mark the sixth anniversary of Realnews magazine and publications.

Yakubu is expected to speak on: “Political Transitions and Africa’s Economic Development,” at the event scheduled for Sheraton Hotel, Ikeja, Lagos at 10:a.m.

Publisher/Editor of the online publication, Maureen Chigbo, said the theme was influenced by contemporary political, economic, security and socio-cultural challenges facing Africa.


These challenges, she said, include Nigeria, which is regarded as the “Giant of Africa,” especially as it prepares for general elections in 2019.

Chigbo disclosed that Yakubu was chosen to deliver the lecture because of his world-class experience, academic antecedents and current position as INEC chairman.

She said the event would also witness interactive sessions by a panel of discussants to speak on Africa’s maturing democratic and economic culture.

Among them are Dean, School of Education, Behavioural & Social, and a Professor of Economics at the College of Southern Nevada, Nevada System of Higher Education, Charleston Campus, Las Vegas, U.S.A, Dr. Charles Okeke, Director, Africa and West Regional Programme and Liaison Office of the African Union, Addis Ababa, Ethiopia, Prof. Adebayo Olukoshi, and Executive Secretary, Nigerian Content Development and Monitoring Board, Bayelsa, Nigeria, Engr. Simbi Wabote.

The publisher added that the magazine would inaugurate some distinguished personalities into the prestigious Realnews Hall of Fame.

The hall, according to her, is exclusively reserved for guest speakers, discussants; Realnews book reviewers and chairpersons at its anniversary lecture series

https://www.akelicious.net/2018/11/inec-laments-multiple-court-orders-on.html

Victoria’s Secret has unveiled their annual “Dream Angels Fantasy Bra” and its shining Swarovski crystals which has a hefty price tag of $1 million.

“Angel” Elsa Hosk will don the $1 million undergarment on Thursday during the 2018 Victoria’s Secret Fashion Show, the lingerie company announced.

The bra, which also comes with a body chain, is composed of more than 2,100 Swarovski diamonds “and responsibly sourced topaz,” the company said in a news release. It has at least 71 carats on the centerpiece and took over 930 hours to create.

Hosk, a 29-year-old from Stockholm, Sweden, told People on Tuesday that when she tried on the bra during a fitting, “it was just a sensation that I’ve never felt before.”

“My body was violently shaking. And it wasn’t because I was nervous, I was just excited,” Hosk said. “It was a cool feeling that I’ve never felt before. And it was definitely a moment that I’ll never forget.”
She described the lingerie as “very cool, very simple, modern and so sparkly. If I would have designed it, it would have looked just like this. I put it on and I was like, ‘It looks like someone just made magic and put it on my body.’”
While the cost of the brassiere is certainly higher than the price of a traditional Victoria’s Secret bra, the store said a version of the undergarment will be available to customers on Nov. 29 for $250 at select stores and online.
The Victoria’s Secret Fashion Show will air Dec. 2 in New York City, United States.

More photos at https://www.akelicious.net/2018/11/photos-1-million-bra-unveiled-in-us.html

Aviation agencies, including Nigerian Civil Aviation Authority (NCAA), Federal Airports Authority of Nigeria (FAAN) and the Nigerian Airspace Management Agency (NAMA), are unable to replace obsolete airport equipment, resurface dilapidated runways and provide other amenities to the airports, because of N45 billion debt owed by domestic airline.

Akelicious gathered that with no subvention from the federal government, these agencies depend on the revenues generated to pay salaries for their workers, execute safety critical projects and conduct training for manpower development.


With such huge debt profile, FAAN said it is finding it very difficult to replace obsolete airport equipment like airfield lighting, resurfacing of dilapidated runways and provision of other amenities to the airports.

On the part of NAMA, the agency said that it cannot source funds to install and replace old instrument landing system (ILS) at many airports, power its landing aids at various parts of the country and upgrade the skills of its technical staff.

It was gathered that part of the revenue generated by NCAA is shared by the Accident Investigation Bureau (AIB), the Nigerian College of Aviation Technology (NCAT), Zaria and the Nigeria Meteorological Agency (NIMET).

So the debts owed the regulatory authority has affected the other agencies that render critical services to the aviation industry.
NCAA told Akelicious that the domestic airlines owe it about N12 billion and have given them till end of this year deadline to liquidate those debts or their operations would be grounded.

The debt, it was gathered, accrued from five per cent of ticket sales charge and cargo sales charge.
The Director General of the agency, Captain Muhtar Usman told Akelicious that NCAA has given the airlines a deadline of end of this year to migrate to its pay-as-you-go portal, the Aviation Revenue Automation Project (ARAP), noting that any airline that still owed would not be given start-up to operate from January 2019.

“We have discussed with the airlines; that after the end of this year they must migrate to ARAP so that these debts will stop. We don’t want any airline to owe us again. So, by January 1, 2019 we expect all of them to embrace our automatic payment system,” Usman said.

NAMA also told Akelicious that domestic airline owe the agency N5,729,099.36; while aerodromes owe it N2,388,393,043.12, making it a total of N8,117,497,142.48.
The debt incurred by airlines include en-route charges and aeronautical charges and aerodrome charges include air traffic control services rendered to most private and state airports.

The Managing Director of NAMA, Captain Fola Akinkuotu told Akelicious that these debts impinge on the agency’s operations because maintaining uninterrupted power at the airports and outposts costs NAMA huge amount of money and urged the airlines to pay off the debts.

“The people that we provide services do not pay their debts. NAMA is not an entity created to make profit; it is a cost recovery agency. Now you want us to enhance the services, you want us to provide better radios, better communication, better navigation, better surveillance, knowing that equipment over time degrades, it has to be maintained; it has to be upgraded; for us to continue to do this, we need funds.

“For us to maintain the status of the navigational aids (navaids), facilities that we have and to improve on it based on technology, how do we get the money to do that if not from the payment of the services we render? Everybody is clamouring for better radios, better navaids and so on, nobody is saying how do we fund it? So in the interest of safety, it behoves on all the people who use our services to do the least, pay,” Akinkuotu said.

Akelicious investigations revealed that the airlines owe FAAN about N25 billion, which accrued from landing and parking charges, rent, electricity, concession fees and others, which are the services provided to the airlines by the agency.

A FAAN official told Akelicious that most of the airlines owe the agency landing charges and because it does not get any subvention from government, it depends on its revenue to maintain the airport facilities, install safety critical equipment like airfield lighting, adding that the debt profile has become so huge that the agency may find it difficult to pay workers salaries.

Akelicious learnt that this year alone the total sum owed FAAN by the airlines is N3,696,639,812.12.
One airline owed the agency N1,752,485,203.68 as at July, 2018.

Akelicious gathered that some of the debts owed FAAN by airlines are mired in controversy over discrepancies on the amount owed. But the spokesman of Dana Air, Kingsley Ezenwa said that the airline pays the agency monthly, adding that whenever there is any discrepancy, it is reconciled before payments are made.

https://www.akelicious.net/2018/11/aviation-agencies-groan-under-n45bn.html

A total of 230.35 billion cubic feet (Bcf) of natural gas was produced in the country in July this year, averaging a daily production of 7,678.17 million standard cubic feet (mmscfd), the Nigerian National Petroleum Corporation (NNPC) has disclosed.

The figure represents a 8.81 per cent increase over the previous month’s statistics.

Its monthly financial and operations report for July 2018 said 3,084.09Bcf of the product was produced in a year, representing an average daily production of 7,834.62mmscfd while the daily average supply to power plants stood at 744.86mmscfd, equivalent of 2,898 megawatts.

The survey noted that 1,858 cases of vandalised pipelines were recorded during the period.

The document pointed out that for July alone, 204 cases of pipeline vandalism were witnessed with 16 points either failed to be welded or ruptured/clamped.
It also indicated that 188 pipeline points were vandalised as against 165 recorded last month with Ibadan-Mosimi accounting for 124 points or 66 per cent of the cases while Aba-Enugu, PHC-Aba and other locations bore the rest.
A statement by NNPC Group General Manager Group Public Affairs, Ndu Ughamadu, explained that output from joint ventures (JVs), production sharing contracts (PSCs) and Nigerian Petroleum Development Company (NPDC) contributed 69.38 per cent, 21.69 per cent and 8.93 per cent to total national gas production
A further breakdown shows that 127.19bcf of the product were commercialised, comprising 35.55bcf and 91.65bcf for the domestic and export markets.
This translates to a total supply of 1,184.81mmscfd and 3,055.00mmscfd to the local and international markets for the month, implying that 55.98 per cent of gas was commercialised while the balance of 44.02 per cent was re-injected and used as upstream fuel or flared.

https://www.akelicious.net/2018/11/gas-production-leaps-as-nnpc-records.html

Members of the Biafra Zionists Federation, BZF, have threatened to commit suicide over their missing leader, Barr. Benjamin Onwuka.

Newsmen report that Onwuka is suspected to have been arrested by security operatives after another failed attempt to seize Enugu Government House on August 20.

He has remained incommunicado two months after the encounter.

In a statement on Sunday by the national coordinator of the BZF, Comrade Ogbu Gilbert, he said they had waited in vain for the Department of State Services, DSS, to either release their leader or charge him to court.

“We want to further inform Nigerians and the International community over the unlawful detention of our leader, Barr. Benjamin Onwuka, by men of the DSS.

“It is now over two months and they have refused to charge him to court, contrary to the provisions of Nigeria’s Constitution, which says nobody should be detained beyond 24 hours.


“More worrisome is the silence of the security agencies, the South-East governors and Ohanaeze Ndigbo. We are beginning to think that there is a collaboration among them.”

He declared that “we are issuing a 7-day ultimatum, after which we have no option than to commit suicide. We shall occupy all the roads in the South-East and either get crushed by vehicles or have ourselves killed by security forces.

“By this statement, we are drawing the attention of the international community, especially the United Nations, the Amnesty International, the United States and Israel to the oppressive tendencies of the present federal government of Nigeria.

“We have our right to self determination as provided for in all international treaties and we are not ready to sacrifice it.”

https://www.akelicious.net/2018/11/biafra-zionists-threaten-suicide-over.html

A formal partnership has been launched between MTN and top Nigerian actress, Dakore Egbuson-Akande, who now becomes the face of MTN XtraValue and stars in the latest TV commercials. Speaking at the launch, Dakore said: “I think the XtraValue package was made just for me, as it helps me manage my busy schedule whenever I travel. I really love the roaming feature as it means I can use the same line in different countries at an affordable cost.“

MTN’s XtraValue bundle plan offers the best of both worlds for data and voice calls on a single proposition. It is available in two categories – XtraTalk (which offers customers more airtime for Voice calls than Data volume) and XtraData (which offers customers more Data volume and airtime for voice calls).

Speaking at the event, MTN Nigeria’s Chief Marketing Officer, Rahul De said the tariff plan was revamped “to give customers optimal experience and value for money. XtraValue did quite well when it was first launched in May 2016 and we saw the need to optimize the experience and improve the value offered to customers. We did this by introducing new functionalities such as roaming to ensure greater customer experience on the plan. This relaunch is in furthereance of MTN’s commitment to delivering tailor-made offerings that meet our subscribers’ needs.”


https://www.akelicious.net/2018/11/actress-dakore-egbuson-akande-unveiled.html

When the official arrived Enugu we had our primary election at dragon center Enugu in gubernatorial primary, delegates where accredited by the electoral official.Members accredited were 46 delegates. Bede Chukwuekezie won by 45 votes out of 46 total votes cast,while Dr Emmanuel Nwamkpa got one vote only. It was counted in front of the INEC official ,The whole delegates ,the press and the party stakeholders present in the primary election.We the whole Local Government chairman were physically and participated in the process with the exception of chairman of Enugu north LGA and Igboetiti LGA who were unavoidably absent.After the counting of the votes,the returning officer,the APGA national vice chairman north central Engineer Sule Ajayi, declared Mr Bede Chukwuekezie the winner and returned Mr Bede Chukwuekezie as the dully elected APGA candidate for thhe 2019 gubernatorial election in the state. The INEC representation declared that our election was much organised, very free and certainly the fairest they have witnessed

In the state house of assembly, Mr Chijoke Udeani won in Awgu North constituency by affirmation, Mr Emmanuel Ozoene also won the Udi/Ezeagu federal constituency by affirmation. With the above facts please, why have these candidates not been given their certificate of return? Please chairman for the interest of peace and the party progress in Enugu State we appeal to you to give our flag bearers, Bede Chukwuekezie,Chijioke Udeani and others their certificate of return and forward their names to INEC

APGA Enugu is ready for election but we are distracted by the uncertainties surrounding our duly elected candidates. Rumors making rounds in Enugu state have it that the national leadership of our party is doing the bidding of the Enugu state PDP governor, We do not want to believe this.

We the under signed members are the authenticated party chairman of the seventeen local governments of APGA in the states,demand the party leadership to give our candidates their certificate of return and summit their name to INEC so we can resume our activities towards the forthcoming elections. If this is not done, we will be ready to support and stand with our candidates in the fight for justice in this matter.

President Muhammadu Buhari has got an attestation certificate and confirmation of school certificate result from the West African Examination Council, Special Adviser Mr. Femi Adesina disclosed today.

Adesina, who is special adviser on media and publicity disclosed this on Twitter Friday afternoon and taunted the President’s critics, who have been wailing over his certificate.

More details at https://www.akelicious.net/2018/11/breaking-waec-presents-attestation.html

Female Students of Federal Polytechnic Oko, Atani Campus in Ogbaru local government area of Anambra state goes fishing which they take as fun

More photos at https://www.akelicious.net/2018/11/photos-federal-poly-oko-atani-campus.html

Sprint king Usain Bolt’s attempt to become a professional footballer with Australia’s Central Coast Mariners collapsed Friday as his trial period was terminated after contract talks failed.

The eight-time Olympic champion had been trying out with the A-League side for an indefinite period since arriving in August, hoping to fulfil a childhood dream to become a soccer player.

The 32-year-old superstar’s quest garnered worldwide attention, which intensified when he scored two goals in a pre-season friendly.

But his abilities were questioned and the club reportedly offered him only a fraction of the Aus$3 million (US$2.1 million) his management were said to be seeking, with outside sponsors needed to make the deal viable.

“As previously stated, the club and (Bolt’s representative) Ricky Simms have been in conversations with external partners to find a commercial solution that suits all parties,” the Mariners said in a statement.

“Despite several promising potential partners, both Bolt and the Central Coast Mariners have amicably concluded that they will not be able to settle on a suitable deal in a timely manner.”

The 100m world record holder, who retired from athletics last year and has previously tried out with clubs in Germany, South Africa and Norway, thanked the Mariners for the opportunity.

“I would like to thank the Central Coast Mariners owners, management, staff, players and fans for making me feel so welcome during my time there,” said the Jamaican, who is reportedly in Melbourne and will head to Europe soon for a previously agreed commercial engagement.

“I wish the club success for the season ahead.”

Bolt recently turned down a trial-free contract from cashed-up Maltese champions Valletta to focus on trying to make the grade in Australia.

That offer prompted the Mariners to table their own deal, but they didn’t have the funds to make it work without outside help.

And coach Mike Mulvey made clear that Bolt, who favours playing up front, was unlikely to get much game time in the A-League even if he signed, with the team boosting an experienced front line.

It includes Aston Villa marksmen and Scottish international Ross McCormack, who is on a season-long loan deal, and Tommy Oar, who has played 28 times for the Socceroos.

Bolt’s abilities were also questioned by pundits and some players, including former Ireland striker Andy Keogh who last month said he had a “touch like a trampoline”.

Keogh, who used to play for Wolves and Cardiff, added: “He’s shown a bit (of potential) but it’s a little bit of a kick in the teeth to the professionals that are in the league.”

The breakdown in his Australian quest coincided with Jamaican FA chief Michael Ricketts urging him to sign for a club in his homeland, dangling the prospect of being picked for the national team.

“If he can make the transition from being a superstar on the track to being a good enough football player, then we will certainly call him up,” he told ESPN.

Despite the failure to agree terms, Bolt’s presence at the Mariners has garnered huge publicity for a club that finished bottom of the A-League last season.

Owner Mike Charlesworth acknowledged Bolt’s massive pulling power and said it had been a pleasure to have him on the Central Coast, around an hour’s drive north of Sydney.

“This has been a mutually beneficial partnership that brought an increased level of excitement and attention to both the Mariners and the A-League,” he said.

“From day one, Usain dedicated himself to being part of the Mariners. He integrated very well into the team and made great strides as a footballer.”

https://www.akelicious.net/2018/11/bolt-sacked-by-leagues-coast-mariners.html

The Enugu State Government has released N810 million to the Institute of Management and Technology (IMT), Enugu for infrastructure development to encourage reading and learning.

The Rector of the institution, Prof. Austine Nweze, made this known in Enugu on Thursday in Enugu when members of the Enugu State House of Assembly Committee on Education visited the institution, as part of their quarterly oversight function.

Nweze said that since his administration came on board in 2016, IMT came 29 out of 112 polytechnics in the country in a test conducted by the supervisory body.
He explained that with all support given to the institution by Gov. Ifeanyi Ugwuanyi of Enugu State, IMT took seventh position out of the same 112 this year in the test among polytechnics in the country.
The rector said that IMT came second in similar test conducted among state-owned polytechnics.
Nweze said that the management would do everything humanly possible to ensure that the polytechnic take first position; both at the state and federal in 2019.
He said that the polytechnic had implemented 2018 budget in terms of recurrent expenditure and up to date in terms of workers’ salaries.
The Rector said that the monthly subvention of the institution was N120m while the monthly wage bill was N200 million with 12, 000 students paying N40, 000 as school fees per session.
The rector said that the state government had released N25.5 million to the institution to purchase five fairly used vehicles for the management staff.
He said that the management, however, thought it wise to channel the money to another pressing issue- re-accreditation of 43 programmes of the institution.
Nweze said that the institution still lacked perimeter facing of the polytechnic due to limited resources.
In his remark, The Chairman of the Committee, Mr Mathew Ugwueze, commended the governor for the support he was giving tertiary institutions in the state.
Ugwueze called on the management of the institution to put more interest in vocational studies, reminding them that the world was moving toward vocation.
He also urged the stakeholders in education industry to put more effort in making sure that education thrived in the state.

https://www.akelicious.net/2018/11/imt-enugu-gets-n810m-for.html

As the 2019 general elections draw nearer, former Bauchi state governor Mallam Isa Yuguda has dumped the Green Party of Nigeria for the All Progressives Congress, APC.


He defected with about 5000 of his supporters into the ruling party.

This was disclosed to journalists by his former commissioner for Information and chairman Yuguda Alheri Movement, Alhaji Salisu Barau Wakos at a press conference.


Wakos stated that Yuguda’s major decision to defect to the APC was to boost support for President Muhanmadu Buhari’s re-election bid and to ensure that the APC wins the 2019 election.

He said, “I want to declare that from today henceforth, Yuguda is a bonafide card-carrying member of the APC, including all his supporters in Nigeria. The defection is aimed at giving APC maximum support ahead of 2019.”

The movement reiterated that Yuguda’s defection was done after wide consultations with his political allies, stakeholders as well as his supporters.


The chairman stressed that the registration of Yuguda’s supporters into the fold of APC had since commenced nationwide.

“By this declaration, Yuguda has urged all his supporters to canvass votes for President Buhari and Governor Mohammed Abubakar’s re-election bid come 2019,” Wakos added.

https://www.akelicious.net/2018/11/2019-yuguda-defects-to-apc-in-bauchi.html

The Ministry of Foreign Affairs has described as false the alleged video clip circulating on the social media purporting to show how Nigerians are being maltreated in Angola.

The ministry’s spokesperson, Mr George Edokpa, said this in a statement made available to newsmen on Wednesday in Abuja.

He said that the attention of the ministry was drawn to the alleged video clip and urged the public to ignore it.

He said the purported clip circulating on the social media on maltreatment of Nigerians living in Angola was not true.

Edokpa maintained that the allegation was false and should be disregarded.

”The Ministry is in contact with the Nigerian Embassy in Luanda, Angola, and wishes to categorically attest that the incidence under reference in the video did not occur in Angola.

”However, in line with the mandate of the Ministry to protect Nigerians in any part of the world, the Ministry is conducting a comprehensive investigation on the matter,” he said

Full details at https://www.akelicious.net/2018/10/nigerians-in-angola-not-mistreated-fg.html

The member representing Calabar South/Bakassi/Akpabuyo federal constituency, Hon. Essien Ayi, has cautioned the Independent National Electoral Commission (INEC) not to circumvent the wishes of Nigerians in the forth coming 2019 general elections.


“If such is done, it will lead to final disintegration of this country, mark my word, and write it down” he stated.

Speaking while inaugurating his 2019 election central planning committee, the fifth time member in the House of Representatives said “We prayed, believed and hoped that the present INEC should be the kind of transparency the INEC of Jega showed, which make former President Good Luck Jonathan who losses to concede.

The present INEC should even improve on that, if they want this country to remain in peace and together, and if they try to circumvent the wishes of the people, it will lead to final disintegration of this country, mark my word, writes it down” he stated.

Hon Ayi who thanked God for making him a candidate for the 5th time in the history of Cross River State, regretted that his party, People’s Democratic Party (PDP) was going to contest the 2019 election on the position of opposition.


“This is the first time we are contesting election as opposition party, right from the beginning, we have been in the ruling party. We felt we should put everything in order so that we can kick start on Nov 18th when INEC would lift ban on open campaign for the forth coming elections for National Assembly and the Presidential elections.

“Coming from that position, we should re-arrange our things; it should not be as before. Today, we have formed our central planning committee for the elections.

“Even though it is a planning committee for Hon Essien Ayi 2019, we have the task of delivering all our candidates from President to governor to House of Assembly members.

“We are going to constitute our own and if others have theirs, we can synergize with a simple goal of delivering our party PDP” he said.

https://www.akelicious.net/2018/10/2019-calabar-lawmaker-reveals-what-will.html

Information and Communications Technology (ICT) growth index for Middle East, Turkey and Africa (META), has ranked Nigeria low behind Kenya, South Africa, and the United Arab Emirate (UAE).According to the International Data Corporation (IDC), the META region holds greater developmental keys, especially for the adoption of new technologies.

Speaking to journalists, IDC Group Vice President and Regional Managing Director META, Jyoti Lalchandani, said in countries where emerging technologies have been put on the national mandate, they lead in innovation and becoming more mature markets.

Lalchandani noted that IDC is seeing a major shift in the operating model of digital transformation, where organisations are increasingly looking towards areas like cloud and analytics, to change the landscape in terms of their core investments.He revealed that while there have been some significant changes for development in Saudi Arabia, Kenya, and South Africa, growth in Nigeria has been slow, especially towards the adoption of new technologies.


Lalchandani said the slow growth seen in Nigeria’s IT market, is posing a serious challenge to the West African IT ecosystem expansion.
This challenge, which has been linked to some emerging issues in the country, including oil price volatility in the global market, and current political tension in Nigeria, are said to be affecting investors’ plans for the regional market.

Besides, he noted that the government’s non-diversification move especially towards ICT is projected to have also had a negative impact on the region’s growth, as such diverting investors’ focus from the market.He noted that the slow growth may persist owning to the too much dependence on oil, and insufficient diversification plans, saying the oil and gas sector, which is currently unstable, is putting so much pressure on the lean revenue.

He said the IDC saw significant slowdown in the areas of consumer devices, and SMEs business spending, adding that Personal Computer, tablet, mobile phone markets have gone down significantly in the last one year owing to economic pressures and volatility.


Read More: Nigeria’s slow IT market growth hinders West Africa’s expansion

According to him, large enterprises are also feeling the impact, there has been an increased pressure, especially in the currency exchange rate, which was at a time N250 to $1, but increased to about N500 to $1 but gradually coming down, now around N350 to $1. All these affects IT departments and organisation, “they don’t want unpredictability in prices. Information technology is still seen as a cost factor, it is still seen as a CAPEX investment in Nigeria and this is putting pressure on their lean revenues.”On the other hand, Lalchandani said the UAE is one of the more mature markets when it comes to ICT spend, and this is because the government has incorporated a lot of what the IDC calls ‘accelerating technologies.’

“The interesting dynamic about the UAE is that a lot of these shifts that we see in terms of transformation are being led by the public sector, compared to other countries where it is the private sector that leads digital transformation programmes and projects. Here, the public sector is actually taking the lead.”

According to him, the country is the first in the world to set up a Ministry of Artificial Intelligence, and appointed a minister to the department, and the Dubai Government plans to become completely paperless by 2021, by placing all its transactions on blockchain.”Our research indicates that countries (within META) where the public sector has taken the lead in driving innovation by adopting accelerator technologies (blockchain, AI, IOT, next-gen security, AR/VR, robotics and drones), are generally more mature.

“In such cases, the private sector aligns itself with government direction, thereby increasing their own investments to keep pace. We have seen this also influence larger industry players (e.g, IBM, Oracle) to expand investments by establishing innovation hubs and other related investments.”Investment in analytics is changing from organisations looking to just leverage their data to gain a competitive advantage, to organisations looking into ways to monetise the data and create new revenue streams for both the public and private sectors, he pointed out.

https://www.akelicious.net/2018/10/nigeria-ranks-low-in-meta-regions-ict.html

The governorship candidate of Social Democratic Party (SDP), AlhaJi Bashir Adamu, has denied defecting to Peoples Democratic Party (PDP) in Jagawa.

Adamu told the News Agency of Nigeria (NAN) in Dutse on Tuesday that he has never discussed or told anybody or group that he would dump his party to join PDP.

“I am, therefore, warning those spreading that fake news aimed at scuttling my political ambition to desist because they will never succeed.

“PDP has already failed, so how can I leave SDP and join the party that is already dead.”

The governorship candidate said that if he secured the mandate of his people he will focus attention on education, both western and Islamic.

“This is because education is the ingredient for human development,

“When human beings have education, it will develop their skills and talents intellectually, socially, economically and otherwise.”

“Another critical area I am going to pay attention is capacity building stressing that people will be empowered with soft loans to engage on meaningful ventures and businesses to be self-reliant as well as create employment for others.

Adamu said that agriculture will also get a boost if he becomes the governor of jigawa, pointing out that improved seeds, fertilisers and other farm inputs will go down to meet the farmers at the grassroots.

He stated that his administration will create a synergy to seek for markets for the sales of farm produce harvested by farmers.

“The gubernatorial candidate, therefore, called on people of the state to support him saying that he will never betray the confidence they will repose in him.

https://www.akelicious.net/2018/10/i-did-not-defect-to-pdp-adamu.html

The Nigerian National Petroleum Corporation (NNPC), its subsidiary, Nigerian Petroleum Development Company (NPDC), and companies in the oil and gas sector are yet to remit $22.06 billion and N481.75 billion into the Federation Account, the Nigeria Extractive Industries Transparency Initiative (NEITI) declared yesterday.

NEITI made the disclosure at a remediation conference where it provided a summary of unremitted revenues, losses and reconciled differences in transactions and operations in the sector.

It insisted that the unremitted funds included earnings from oil and gas producing companies worth N5.2 billion and $152.69 million and another $498.6 million in revenue from companies involved in offshore processing contracts.


According to the statistics, the NPDC is yet to remit $2.38 billion and N51.95 billion while NNPC is holding on to $19.04 billion and N424.57 billion. The total loss to the federation arising from crude oil production, processing and transportation stood at $3.038 billion and N60.997 billion.

Also, unreconciled differences arising from the allocation, sale and remittance of proceeds from domestic crude allocated to NNPC amounted to N317.475 billion.

At the event, the NEITI’s executive secretary, Waziri Adio, expressed concern over growing remedial issues in the nation’s extractive sector. He regretted that regulations that set up the agency did not empower it to prosecute and called on stakeholders to address challenges of remediation.

NEITI equally raised the alarm over unpaid consideration on four oil fields in the NAOC Joint Venture assigned by NNPC to NPDC in 2012. It stressed that while the asset was previously valued at $2.25 billion, it was re-negotiated down to $1.554 billion, with NNPC claiming that before revaluation, it had remitted $1.65 billion from the gas revenue derived from the assigned assets as payment for the value of the assets.

Reacting, Peter Egbule, national coordinator of Publish What You Pay Nigeria, blamed regulatory lapses, weak institutions, determination by entities and individuals to divert public fund and the inability of government to act proactively.

He said while the Petroleum Industry Bill remains key to addressing the issues, the Federal Government must strengthen regulatory frameworks and show political will towards fighting corruption and blocking leakages in the oil sector.

Meanwhile, oil prices slid yesterday as Russia signaled output would remain high. Losses, however, were limited ahead of the United States’ sanctions on Iranian exports. The sanctions are expected to reduce supplies when they come into effect in just under a week.

Brent crude futures fell 12 cents to $77.50 a barrel while US West Texas Intermediate (WTI) crude lost 30 cents to $67.29 a barrel. Oil prices also fell about $10 a barrel since four-year highs reached in early October.

But Nigeria’s Minister of State for Petroleum Resources, Ibe Kachikwu in an interview in London yesterday said the Organisation of Petroleum Exporting Countries (OPEC) is likely to keep prices at $70 per barrel when it meets in December. He described $70 as the “comfort level for us and everybody,” saying he would be surprised to see anything dramatic.


Russian Energy Minister Alexander Novak said on Saturday that there was no reason for Russia to freeze or cut its oil production levels, noting that there were risks that global oil markets could face a deficit.

OPEC, led by Saudi Arabia and non-OPEC member, Russia, agreed in June to lift oil supplies, but OPEC signaled last week that it might have to re-impose output cuts as global inventories rise.

“When the Russians start talking about keeping the production levels high and even the possibility that they need to increase it because of a possible tightness in supply, that brought on some selling pressure,” Reuters quoted Gene McGillian, director of market research at Tradition Energy in Stamford, Connecticut, as saying.

Industrial commodities such as crude and copper have also been rattled by hefty losses in global equities due to concern over corporate earnings and fears over the impact to economic growth from escalating trade tensions, as well as a stronger dollar.

https://www.akelicious.net/2018/10/nnpc-others-yet-to-remit-2206b-n48175b.html

A new report by GlobalData, a data and analytics company has said that effort by Nigeria to revive its ailing refineries alongside other upcoming private refinery projects will place the country second in global refining capacity after China.

The report said Nigeria is planning a massive refinery expansion to meet growing domestic demand for petroleum products and is expected to expand its crude distillation units (CDU) capacity by 2.003 million barrels per day bpd, at a cost of $57.6 billion. Also, Kuwait will add 615,000 bpd of CDU capacity by 2022, and is expected to spend $7.5 billion through 2022.


According to the report, China will lead global refinery capacity expansion and investments with 3.12 million bpd additional refining capacity and $67.3 billion capital expenditure through 2022, GlobalData said.

Total refining capacity in the world is expected to grow by 15.1 percent between 2018 and 2022, with global crude distillation units (CDU) capacity expected to hit 117 million bpd by 2022, GlobalData said in its report.

Asia will lead the pack with the highest planned and announced CDU capacity of 5.4 million bpd in 2022, followed by Africa and the Middle East with 3.2 million bpd and 2.7 million bpd, respectively. In capital expenditure (capex), Asia will again be the leader with expected capex for new build refineries of $194.9 billion, followed by Africa and the Middle East, with $126.6 billion and $87.1 billion, respectively, GlobalData has estimated.



Among individual countries, China is the leader, with ten new-build refineries expected to come on line by 2022, followed by Nigeria and Kuwait. The top ten also includes Iraq, Iran, Turkey, Brunei, Indonesia, the Philippines, and Saudi Arabia, GlobalData’s report shows. “China’s ambitious refinery capacity expansion programme continues fuelled by the country’s industrial growth, and growing demand from the transportation sector.

The capacity expansion program is powering China’s crude imports, and will transform the country to become a strong contender for exports of petroleum products globally,” Sumit Kumar Chaudhuri, Oil & Gas Analyst at GlobalData, said, as carried by East African Business Week. Last month, Chinese refiners processed a record daily amount of crude oil. At a calculated 12.49 million bpd, the September run rate of Chinese refineries was more than 600,000 bpd higher than the August figure.

https://www.akelicious.net/2018/10/nigeria-emerges-2nd-after-china-in.html

Diamond Bank Plc’s third quarter (Q3) financial report for the period ended September 30, 2018, has shown funds disbursement of more than N1 billion to small business owners, under the cash flow-based SME lending scheme.

The initiative, which is in partnership with the Women’s World Banking (WWB), has already earned the financial institution a ranking among the first five SME customer bank in Nigeria in the KPMG customer service survey of 2018.

The unaudited result, presented to the Nigerian Stock Exchange (NSE), affirmed the bank’s strong focus on the Nigerian market, rather than foreign markets, with a retail sector driven by technology to boost its growth and position SMEs for competitiveness.

Specifically Tech-driven retail boosts Diamond Bank’s Q3 result, the bank’s retail and digital strategy has supported the expansion of financial inclusion programme, with the number of banking agents rising to 70,052 in Q3, througStandard Chartered hosts mortgage fair
h Diamond Y’ello, BETA and CLOSA product lines.

Besides, it introduced SMEzone to the market- an information-sharing platform, aimed at positioning entrepreneurs for competitiveness while the sale of its UK subsidiary expected to be completed by year-end.

The Chief Executive Officer of the bank, Uzoma Dozie, said the global economy is currently witnessing a shift in trade relations alongside continued interest rate adjustments.

“This has led to greater volatility across markets and increasingly fragile economies. Nigeria’s economy has not been immune to certain headwinds, so that while the economy recorded quarters of expansion, the rate of growth has weakened.




“However, against this backdrop, our digital-led retail strategy has remained robust. Through this strategy we have been able to continue scaling up by reaching a wide pool of customers both cost effectively and efficiently.

“Our investors can expect a further decline in Non-Performing Loans (NPLs), a further increase in our digital footprint and completion of the sale of the UK subsidiary. Through these actions we remain optimistic about the medium to long term outlook of Diamond Bank and its return to strong profitability,” he said.

An analysis of the result showed that despite the challenging trading environment, the bank’s non-interest income to profit increased by 10.81% from N24.66 billion in 2017, to N27.32 billion in Q3 of 2018.

Impairment charges decreased by 24.21% from N33.21 billion in Q3 of 2017, to N25.17 billion in the period under review, while interest expense, however, rose by 18.32% to N41.26 billion year-on-year.

The level of interest expense showed a continued to decline in-line with guidance, falling by 15.36% from N14.83 billion in Q1 of 2018, to N12.56 billion in Q3 of 2018, while a 2.89% year-on-year increase in operating expense to N66.20 billion in Q3 of 2018.

The bank said that cost containment measures are underway with its digitisation process contributing to quarter-on-quarter gains, as the operating expense declined by 0.36% from N22.15 billion in Q2 2018, to N22.07 billion in Q3.

https://www.akelicious.net/2018/10/tech-driven-retail-boosts-diamond-banks.html

The escalating violent Kaduna crisis has forced the Nigeria Railway Corporation (NRC) to suspend its Abuja-Kaduna route.

The Managing Director of NRC, Mr Fidet Okhiria, announced that the Abuja-Kaduna train services has been suspended till the security situation in Kaduna improves.

Okhiria told the News Agency of Nigeria (NAN) in Abuja that the train service was suspended on Friday because of the safety of the passengers, goods, coaches and wagons.

“We decided to stop the train services yesterday (Oct. 27) because of the curfew and the crisis situation in Kaduna, passengers cannot go in and out of Kaduna and for the safety of the passengers and our vehicles we decided to stop the services.

“We will resume normal operations when the situation in Kaduna state improves and the curfew is lifted,” he said.

Kaduna State Government had imposed a 24-hour curfew on Kaduna city and environs due to violent clashes recorded on Oct. 18 at Kasuwan Magani in Kajuru Local Government Area of the state.

A fresh crisis erupted again later in the month over the death of the kidnapped traditional ruler of Kachia, Dr Maiwada Galadima.

Meanwhile, the government has relaxed Kachia curfew, Mr Samuel Aruwan, the Senior Special Assistant to the Governor on Media and Publicity, said in a statement on Saturday.

Aruwan said the State’s Security Council noted with gratitude the exemplary conduct of the people of Kachia, who remained peaceful while mourning the loss of a much-revered monarch.

He stated that in recognition of this positive contribution to harmony, the Security Council directed that the curfew in Kachia be relaxed immediately today, Saturday, Oct. 27, 2018.

He added that “residents of Kachia are free to go about their legitimate businesses from now till 5 p.m. today (Saturday).

“Also From tomorrow, Sunday, Oct. 28, 2018, Kachia residents are also free to move from 6 a.m. till 5 p.m.

“The Security Council advises residents of Kaduna to continue to comply with curfew hours.

“The state government warns that only persons involved in delivering essential services will be permitted free passage, as curfew violation is crime that will earn arrest and prosecution.”

No fewer than 32 persons have been arrested in Kaduna in connection with the renewed violence in Kaduna metropolis.

Aruwan, announced this in a statement in Kaduna that the number of arrested persons over the renewed disturbances was given by the Police at the state’s Security Council meeting, adding that “these persons will be investigated and prosecuted’’.

Aruwan also said that within the areas covered by the curfew, “security agencies thwarted attempts to destroy places of worship in Kawo and Hayin Banki.

“It was also reported that one person was killed in Kasuwan Magani and another arrested with a weapon overnight while attempting to burn down the market there.”

https://www.akelicious.net/2018/10/kaduna-crisis-hampers-train-service.html

Anambra State chapter of Young Progressive Party (YPP) have received over 500 defectors from the All Progressives Congress (APC), All Progressives Grand Alliance (APGA) and the Peoples Democratic Party (PDP) respectively.

The defectors were received by the chairman of YPP in aguata Local Government Area in Anambra state , chief Edward Chinedu Ezeabasili (Ogbaturuenyi).

Chief chief Edward Chinedu Ezeabasili said the party was poised to take over power from the APC senator Dr Andy Ubah who have been on the sit for eight years.

According to him, “We are poised to take over from APC in state come 2019 because over the years, they have been promising the people so many things without achieving any, but what we in YPP promise is what we believe in and will definitely fulfill because the party is founded on Godly principles.

https://www.akelicious.net/2018/10/500-apc-pdp-apga-supporters-dump-party.html