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An early morning fire incident occurred in the residence of the Senate President, Bukola Saraki, in the Maitama area of Abuja on Friday, but no casualty was recorded. Our correspondent learnt that some residents of the sprawling edifice raised the alarm when they noticed a heavy smoke inside the gymnasium of the senate president. A resident told our correspondent that the attention of the officials of the fire service were drawn to the incident around 10:05am and that they quickly mobilised themselves there to put the fire under control. Confirming the incident to our correspondent, the Special Adviser to the Senate President on Media and Publicity, Mr. Yusuph Olaniyonu, said the incident was caused by an electric spark from one of the air conditioners in the gymnasium of his principal. He explained that Saraki had been duly informed of the incident, adding that nobody was injured in the process.
Source : http://www.punchng.com/news/fire-guts-sarakis-house/

Pls add 0816274981

At last..

Members of the National Assembly on Wednesday said they welcomed the decision of the Revenue Mobilisation Allocation and Fiscal Commission to review downward the salaries and allowances of members of the National Assembly. The House of Representatives said a pay cut would be a “relief” to lawmakers in many respects, including restoring the dignity of the legislature in the country. It noted that it was “disgusting” to hear Nigerians call their legislators “looters” and “thieves” on account of the salaries and allowances worked out for them by an agency of the government empowered by law to do so. The Chairman of RMAFC, Mr. Elias Mbam, had on Tuesday disclosed that a new pay package, reflecting cuts in the remuneration of public service officers would be released in September. Mbam specifically mentioned the National Assembly as an arm of the public service that would be affected in the planned pay cut. Mbam, who spoke with State House correspondents in Abuja soon after a meeting with President Muhammadu Buhari, said, “Presently, we are reviewing the subsisting remuneration package and it is going to reflect the socio-economic realities of today. “We expect that before the end of next month, it will be ready. “But, it will go through a process; it is not something that you will just say ‘yes or no.’ “It will go through a process and it should be obvious to you the economic realities of the day and it is going to reflect that.” Answering a specific question on whether he thought senators and members of the House of Representatives would welcome the pay cut, he stated, “They (senators and Representatives) do not have a choice. “We are guided by the 1999 Constitution and we are going to be guided by such laws that are provided for in the Constitution. They swore to obey the laws of the country.” The House, which reacted through its Chairman, Ad hoc Committee on Media and Public Affairs, Mr. Sani Zoro, claimed that members would be relieved if the new pay package came into effect. Zoro observed that since 1999, Nigerians viewed legislators as people who did not deserve their pay or even “erroneously” believed that they fixed salaries for themselves. “So, for us, it will be a relief if the pay is reduced. We will now have our integrity intact. “We will feel confident to be called honourable, instead of feeling horrible as some people wish to address legislators,” he said. Zoro also told The PUNCH that the pay cut would reduce the financial pressure lawmakers faced from their constituents and the general public, who held the “wrong impression” that they were very rich. “This is good for us on another ground. There are those who see us as looters and thieves. “This is a message to them to let us be; since we will no longer be paid the money they feel we do not deserve. “Our burden will now become less and we are very pleased with this development,” Zoro added. Zoro also told The PUNCH that it was a “cheering” decision by RMAFC, coming after the Speaker, Mr. Yakubu Dogara, had set up a committee to assess the “needs” of the 8th House. He explained that the committee, made up of civil society organisations and professionals in many fields, would cost the financial requirements for running the legislature. At the moment, each member takes a monthly salary of around N900,000, excluding a quarterly allowance (running cost) of about N27.9m. Senators take a slightly higher salary and quarterly allocation. Lawmakers are currently observing a six-week annual recess to last till September 29. Also, the Senate spokesperson, Dino Melaye, explained that the Senate President, Bukola Saraki, first initiated moves to review downward, the total package accruable to legislators in the upper chamber immediately after the inauguration of the 8th Senate.
Source : http://www.punchng.com/news/senate-reps-okay-pay-cut/

Hop Dey are not demanding something else back

THE US President, Barack Obama, on Monday
offered strong support for Nigeria’s new
President, Muhammadu Buhari, saying he had
a “clear agenda” for defeating the militant
Islamist group, Boko Haram, and was working
to root out corruption.
Speaking as he greeted Buhari on his first visit
to the White House since his election in March,
Obama said the two leaders would discuss ways
to cooperate against the group, which had
wreaked havoc in parts of the West African
country.
Obama told reporters in the Oval Office that
Buhari had integrity and “a very clear agenda
in defeating Boko Haram extremists of all sorts
inside his country.”
Boko Haram has carried out multiple attacks in
northern Nigeria, most notably the April 2014
kidnapping of 276 Nigerian schoolgirls who are
still missing.
The specific tactics Buhari will use against the
group are still unknown, say experts who study
the region.
White House spokesman, Josh Earnest, said the
United States could offer intelligence to help
the Nigerian efforts as well as support for
communities hurt by the group.
Buhari’s election is the first democratic power
transition in decades, which Obama called “an
affirmation of Nigeria’s commitment to
democracy,” and the visit is meant to usher in
a new chapter in relations between the two
countries.
The US cooperation with Buhari’s predecessor,
Goodluck Jonathan, had virtually grounded to
a halt over issues including his refusal to
investigate corruption and human rights abuses
by the Nigerian military.
Buhari’s move on July 13 to fire military chiefs
appointed by Jonathan cleared the way for
more military cooperation, the US officials have
said.
Since Buhari’s election, Washington has
committed $5m in new support for a multi-
national task force set up to fight Boko Haram.
Obama did not signal whether he might send the
US troops to help train Nigerian forces.
The US is also looking at improving its economic
ties with Nigeria, Africa’s biggest oil producer,
especially as relations with two of Africa’s other
big powers, Egypt and South Africa, have
cooled.
Obama called Nigeria one of the most important
countries on the African continent and in the
world and he commended Buhari’s work in
rooting out corruption that he said had held
back Nigeria’s economic growth.
Buhari was also expected to meet with the US
Attorney General, Loretta Lynch, later on
Monday to discuss countering violent extremism.
Meanwhile, Buhari on Monday said the
sustained pressure mounted on the immediate
past administration by the US and some
European countries made the last general
election in Nigeria to be free and fair.
A statement by his Special Adviser on Media
and Publicity, Mr. Femi Adesina, quoted the
President as speaking while responding to the
welcome remarks by Obama before the start of
the bilateral meeting between officials of both
countries at the Oval Office of the White House,
Washington DC, on the second day of Buhari’s
four-day visit to the US.
“Without the external pressure, we would not be
where we are today,” Adesina quoted the
President as saying.
Buhari recalled that the pressure started from
the visit of the US Secretary of State, John
Kerry, to the past Chairman of the
Independent National Electoral Commission,
Prof. Attahiru Jega.
“Nigeria will be ever grateful to President
Obama and the United States for making
Nigeria to consolidate its gains on democracy,”
the President added.

Source : http://www.punchng.com/news/obama-okays-buharis-agenda-for-defeating-boko-haram/

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Despite the retinue of staff at the presidential
villa waiting on the First Family, President
Muhammadu Buhari’s wife, Aisha, still cooks his
food.
She made this known on Saturday while hosting
some children to an elaborate reception as part
of activities marking this year’s Eid-el-Fitri.
At the party held inside the old Banquet Hall
of the Presidential Villa, Abuja, the President’s
wife, after spending about two hours with the
children, sought their permission to go and
make dinner for her husband, who she said was
alone at home.
“I’m going to leave you soon. I want to go back
home to cook for my husband. Because my
children are here playing with you, nobody is at
home, only my husband. I want to go back
home to be with him and also cook dinner for
him,” she told the highly elated children.
Before her exit, she urged the children to be
good ambassadors of their parents and the
country. While saying that the future of the
country is in the hands of children, Mrs. Buhari
advised them to face their studies and be
obedient to their parents.
The First Lady also admonished the children to
continue to pray for other Nigerian children
who are currently residing inside the different
Internally Displaced Persons camps scattered
all over the country because of acts of
terrorism.
Telling them that the current administration
attaches great importance to the welfare of
children and would stop at nothing to ensure
their protection and development, she said,
“The future of this great country lies in your
hands. You are to complement the efforts of
government by working very hard in school and
to be obedient to your parents.
“Tomorrow, you may be the President, the
President’s wife, senators, honourable
members, governors, medical doctors, teachers,
journalists, engineers, nurses, lawyers and the
rest of our honourable professions.”
The President’s wife also urged parents to
encourage and monitor their children.
The party featured different games, dancing
competition and fashion parade among others.
Mrs. Buhari was accompanied by wives of some
former governors.

Source : http://www.punchng.com/news/i-still-cook-my-husbands-meals-aisha-buhari/

Lalasticlala

A member of the House of Representatives in
Nigeria has sued President Muhammadu Buhari
for granting a bailout to states, insisting that
the decision was ‘unconstitutional, null and
void’.
Honourable Igariwey Onwe filed the
case with the Abuja High Court on
Wednesday.
He is seeking to establish, whether
the President can, by way of fiat,
call for the appropriation and
disbursement of public revenue
from the distributable pool account
to the Federal, State and Local
Governments, without prescription
from the National Assembly.
President Buhari had recently
approved a 400 billion Naira bailout
package to enable states pay
salaries to their workers.
Joined in the suit alongside
President Buhari are the Attorney
General of the Federation and
Minister for Justice and the Federal
Ministry of Finance.
Others are the Revenue
Mobilisation Allocation and Fiscal
Commission, the Accountant
General of the Federation and
Auditor General of the Federation.

Source : http://www.channelstv.com/2015/07/15/federal-lawmaker-sues-president-buhari/

A member of the House of Representatives in Nigeria has sued President Muhammadu Buhari for granting a bailout to states, insisting that the decision was ‘unconstitutional, null and void’. Honourable Igariwey Onwe filed the case with the Abuja High Court on Wednesday. He is seeking to establish, whether the President can, by way of fiat, call for the appropriation and disbursement of public revenue from the distributable pool account to the Federal, State and Local Governments, without prescription from the National Assembly. President Buhari had recently approved a 400 billion Naira bailout package to enable states pay salaries to their workers. Joined in the suit alongside President Buhari are the Attorney General of the Federation and Minister for Justice and the Federal Ministry of Finance. Others are the Revenue Mobilisation Allocation and Fiscal Commission, the Accountant General of the Federation and Auditor General of the Federation.

Fp tinx

The naira hit another record low of 241 against
the dollar at the parallel market on Monday as
the Central Bank of Nigeria’s restrictions on
foreign exchange sale fuelled unofficial trade in
dollars, Reuters reported.
The ban on importers from accessing the Nigerian
foreign exchange markets for the importation of
41 items had led to the volatility of the naira-
dollar exchange rate at the black market.
Since June 23 when the new forex rule became
operational, the naira has fallen by 10.5 per cent
from 218 to 241 against the greenback.
Foreign exchange dealers said the artificial
scarcity of the United States currency still
pervaded the market.
The new forex rule had led to huge demand at
the parallel market, causing dealers to hoard the
dollar in anticipation of further fall in the naira
Economic analysts had said the CBN needed to
devalue the naira to allow the local currency
achieve an equilibrium price against the dollar.
The central bank had however said it would not
be focusing on the thinly-traded parallel market
when determining the exchange rate, adding that
people preferred to use the unofficial market for
undocumented transactions.
Foreign investors had been on the sideline,
waiting for the CBN to devalue the naira before
investing in naira-denominated assets.
Local and foreign analysts had predicted that the
naira might hit 250 against the dollar at the
parallel market any time soon if the artificial
scarcity trend continued.
The central bank appears to be in a fix as the
spread between the official and parallel market
continues to widen by the day.
Meanwhile, stocks fell to a more than three-
month low and the naira on Monday, Reuters
reported.
The local bourse, which has the second-biggest
weighting after Kuwait on the MSCI frontier
market index, dropped for the ninth consecutive
day as investors shed banking, consumer and oil
shares.

Source : http://www.punchng.com/business/money/naira-drops-to-241-against-dollar/

Thumbs

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Change oo!!

The naira, which rose to 180 against the dollar
shortly after the inauguration of President
Muhammadu Buhari about a month ago, has fallen to
222 at the parallel market due to a huge demand for
dollars by importers and investors.
Increasing business activities have made importers
and investors to move their foreign exchange demands
to the parallel market, putting pressure on the naira
at the segment, it was learnt on Tuesday.
The dollar was sold for between 220 and 222 on the
streets of Lagos, Abuja and Kano on Tuesday, while
the pounds and euro were sold for 350 and 249,
respectively.
Analysts and foreign exchange dealers said the future
of the naira looked bleak, at least at the parallel
market.
The Central Bank of Nigeria has been depleting the
external reserves in a bid to defend the local
currency.
At the interbank forex market, where the central bank
intervenes regularly to defend the currency, the naira
closed at 199 against the dollar on Tuesday, data
from the FMDQ OTC website showed.
The external reserves fell to $29.03bn on June 22,
from $29.8bn on May 18, data from the CBN website
showed.
Prior to the latest development, the foreign reserves
had been stable for several weeks.
Economic and financial analysts said the latest
movements in the external reserves meant that the
naira was beginning to come under some fresh
pressure.
Concerned about the depletion of the reserves, the
CBN met with bank officials on Friday to discuss how
to mitigate the pressure on the external reserves.
The CBN has yet to make the outcome of the meeting
official but sources said the central bank wanted the
banks’ cooperation in order to reduce the pressure on
the reserves.
The bank officials, it was learnt, told the CBN that it
needed to relax its rules in the forex market and
allow the naira to find its level.
The officials, however, promised to take the
deliberations at the meeting to the CBN Governor, Mr.
Godwin Emefiele.
It is unclear if the CBN will accede to the demand of
the banks to relax the rules in the forex market, but
the spokesperson for the central bank, Mr. Ibrahim
Mu’azu, could not be reached immediately for
comments. Calls made to his mobile telephone line
were not answered.
Last November, the CBN devalued the naira after
spending several billions of dollars to defend the local
currency.
The Acting National President, Association of Bureau
De Change Operators, Alhaji Aminu Gwadabe, told our
correspondent on Tuesday that the naira’s outlook at
the parallel market looked bleak, forecasting that the
currency might fall to 230 against the dollar in the
coming weeks if the central bank failed to deploy
measures to curb the increasing dollar demand at the
parallel market.
He said, “There is pressure on the naira again.
Maturing import bills are making the demand for
dollars to rise again. Most importers and investors are
saying they could not access dollar at the official
market.
“They are now turning to the parallel market, a
situation that is now fuelling the demand for dollar
and other foreign currencies at the parallel market.”
The Head, Research and Investment, Afrinvest West
Africa Limited, a research and investment advisory
firm, Mr. Ayodeji Ebo, said, “The CBN needs to do
something urgently otherwise it (slide in the value of
the naira) will continue.
“If the pressure continues, the CBN may devalue the
naira. I think the CBN is also waiting to see the plan
of the new government in order to align its monetary
policies with it. Once the new government comes up
with its plan, the CBN may devalue the naira. If that
is done, foreign investors who have been waiting on
the sidelines will come in.”

Source: http://www.punchng.com/business/business-economy/naira-faces-fresh-pressure-falls-to-222-per-dollar/

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Gej till 2019...where are ds tanoids

..

Please Nairalanders, am currently studying Pure and Applied Physics in one of the Nigeria Universities, please where can I work with my certificate in Physics?

*booked

Wait pls, i dy come..make i go check my beans

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