₦airaland Forum

Former aide to ex-president Goodluck Jonathan, Reno Omokri has taken to social media to share a letter from U.S Army War College where the college states that President Muhammadu Buhari did not submit any credential to attend the college.

The letter did mentioned that at as the time President Muhammedu Buhari attended the college there was no need for submission of credentials.

Reno wrote: This letter from the US War College completely puts to lie any claims by the @MBuhari campaign that Buhari submitted his WAEC certificate to the @ArmyWarCollege. They have denied him. No matter how far falsehood has traveled, it must be overtaken by truth #RenosDarts.

More details at https://www.akelicious.net/2018/11/letter-from-us-war-college-shows-buhari.html

A 59-year-old man, identified as Julius Numa, reportedly committed suicide over stolen N600,000 harvest fund kept with him.

It was gathered that he had sent out a text message to his friends and relatives demanding for financial assistance or he would kill himself before hanging himself in his room in Oton area of Sapele, Delta State, on Sunday. A family source, who craved anonymity, disclosed that the dangling body of the father of 11 children was found in his room by his daughter, who had gone to check on him in the evening. “We suspected he must have killed himself over a harvest fund of N600,000 that was stolen from him weeks back. “He was in charge of the harvest fund in the church and a few weeks back he was robbed by some boys at the Oton area of Sapele where the church is located, and since then he has been acting strange,” the source said. Numa was said to have sent a text message to some of his friends and relatives on Wednesday, threatening to kill himself if they did not help him with finance to offset some of his debt. “Some of the children even promised to help out this week, only for us to hear that he had killed himself” the source added. A source at the Sapele Police Station confirmed the story to Vanguard, saying “one Numa Julius of Okpe Road was reported to have committed suicide, when we visited the scene, we saw the body dangling. “We were not able to bring him down yesterday, but we learned he has been buried this afternoon (yesterday).” He said the case was being investigated to ascertain the circumstances surrounding the incident.

See Touching Photos at https://www.akelicious.net/2018/11/father-of-11-commits-suicide-over.html

No fewer than 900 members of the Peoples Democratic Party in Kaugama Local Government Area of Jigawa on Monday defected to the All Progressives Congress.

Receiving the defectors in Kaugama, the State Deputy Governor, Alhaji Ibrahim Hassan, urged them to work for the party’s victory in the 2019 general elections.

Hassan said: “Your defection to APC shows that this party is becoming stronger and stronger as we approach the general elections.”

The council’s APC Chairman, Alhaji Yusuf Ubali, commended the defectors for their decision, saying that the party’s doors were still open for more defectors.


Ubali said: “We will do justice to anyone who has joined the APC or interested in joining the party.”

He appealed to the APC members who lost in the recent party primaries to be patient, assuring that the party leaders would reward them for their loyalty.

Responding on behalf of the defectors, Alhaji Sale Marke and Alhaji Baffa Yusuf, thanked the party leaders for their hospitality and pledged to be law abiding members.

Marke and Yusuf were close allies of the PDP’s Jigawa Northeast Senatorial candidate, Senator Ubali Shitu.

https://www.akelicious.net/2018/11/breaking-900-pdp-members-defect-to-apc.html

The Federal Government will within the next one year provide stable electricity to 80,000 shops, 320,000 Micro, Small and Medium Scale Enterprises (MSMEs) in 16 economic clusters across the country to help them improve their operations and significantly cut down cost.

Vice President, Prof. Yemi Osinbajo, made this disclosure during the commissioning of the 1.5 mega- watts (MW) Sura Shopping Complex Independent Power project (IPP) in Lagos State recently.

Government, through the Rural Electrification Agency (REA) has commenced the implementation of its Energizing Economies Initiative (EEI), which aim is to provide efficient, clean and sustainable power to four economic clusters across Nigeria.

Osinbajo, explained that the initiative would have a transformative impact with the provision of reliable power supply to small and medium size enterprises by increasing their economic growth.“Within the next year, over 80,000 shops and 320,000 MSMEs in 16 economic clusters serving at least 18 million Nigerians will be electrified, creating over 2,500 jobs in the process.

“In the coming years, Nigeria will experience massive economic growth; the Sura shopping complex is the flagship off grid power project that will help unleash Nigeria’s immense economic potential,” said Osinbajo.

Similarly, the Minister of Power, Works and Housing, Babatunde Raji Fashola, SAN who was at the ceremony, stated that the EEI was in line with Government’s plans to ensure that businesses in Nigeria enjoy stable electricity supplies.

Fashola said: “The Energizing Economies initiative further illustrates the commitment of the Federal Government to providing electricity to Nigerian businesses. Government cannot do it alone and we have been working closely with the private sector.“ Sura IPP represents small pockets of transformative change that will ultimately translate to significant economic development in Nigeria.

Accordingly, Managing Director of REA, Damilola Ogunbiyi, stated that the Sura power system was built in collaboration with private sector operators who has the right competence. She noted that other markets would be electrified through the EEI.

“The Sura business experience has been completely transformed into a safe, clean, cost effective and business – friendly environment. This is the sort of progress FGN is committed to scaling through the Energizing Economies Initiative.“We are collaborating with qualified private sector developers to roll out off-grid electrification projects across the country-Sura is just the beginning of our success story,’’ Ogunbiyi, explained.

https://www.akelicious.net/2018/11/nigerian-govt-seeks-increased-power.html

The Nigerian Communications Commission, NCC has appealed to all stakeholders and consumers of telecom services to defend all telecoms infrastructure spread across the country from undue interference by hoodlums for improved quality of service.

The Executive Vice Chairman of the Commission, Prof. Umar Danbatta made the appeal on Thursday at the sensitization programme on the protection of telecoms infrastructure held at Abdusalam Abubakar Youth Centre, Minna Niger State. Prof. Danbatta, who was represented at the occasion by the Head of Zonal Operation, North Central, Ms Helen Obi said the sensitization workshop on protection of telecoms infrastructure as critical national assets was to enlighten the public and stakeholders on the need to protect telecom infrastructure within their communities and to treat them as collective heritage. He noted that the workshop was also intended to present a platform to address concerns usually expressed by the public about telecom infrastructure. The NCC boss who lamented the pervading challenges of seamless provision of telecom services in the country, said protection of existing infrastructure and increase in deployment of robust critical telecom infrastructure was imperative for attainment of the 30% broadband penetration target by end of 2018. “These facilities have been targets of vandalism, theft and hostility in some communities. It is therefore imperative for the public to regard telecom facilities as collective owned infrastructure that are crucial and essential for provision of efficient and acceptably quality of service. She said, “part of our mandate is to engage service providers and we are also to ensure technical regulations and set prices and tariffs. Generally, it is our mandate to create a level playing field for investors in the telecom industry. NCC is equally charged with the mandate to protect telecom consumers so that they are not unduly taken advantage of by service providers by making sure that there is acceptable quality of service in the industry. ‘‘What we hope to achieve is to sensitive the consumers and stakeholders and even the agencies of federal, state and local governments on the need to protect telecom infrastructure, keying into the 8 Point Agenda of our chief executive, which seeks to ensure high quality of service and broadband penetration. ‘‘Vandalizing this infrastructure compromises effort of government to achieve the 30% target for broadband penetration for 2018. NCC so far has achieved 22 percent and we are making sure that we achieve the remaining 8 percent. ‘‘Telecom infrastructure is infrastructure that serve all of us beneficially. We need to work collectively and work against its vandalism so that it can serve the purpose it is meant for. ‘‘Vandalism destroys the infrastructure that feed services being renderd by the service providers. This is why we must treat telecom infrastructure as a common asset,’’ she added. On the delay in the passage of the telecom industry bill at the National Assembly, Obi said NCC is engaging as much as possible the National Assembly in this regard, “maybe legislative processes has been delaying but I know that NCC has not rested on its oars to make sure that that bill is timely passed.” In his paper presentation, Engr. Lawal Bello of the Technical department of NCC, said the telecom industry is facing a lot of challenges from power, multiple taxation and vandalism, which hampers the effort of government to provide ubiquitous telecom services in the country. He described the workshop as a clarion call to consumers, traditional rulers and government agencies to ensure that the critical telecom assets are fully protected. ‘‘The spate of telecom infrastructure has resulted to slow down of services. There is need for National Assembly to pass the Telecom Industry Bill and declare the infrastructure critical national assets. ‘‘Critical infrastructure does not only affect one person but all. Telecom infrastructure bill when passed into law will increase quality of service in Nigeria.’’ In his response, the Head of Service to the Niger State Government, represented by the Permanent Secretary in the Human Resource Development Department, Mr. Abubakar Salisu urged the NCC to create a special incentive for states to encourage them protect the telecom infrastructure in their domain. Also speaking, Ahjia Asmawo Baba said ‘‘I am glad to be here, at least NCC have been able to make us understand that the telecom masts around the residential areas are not harmful. At least I now know that when I have problem, I can channel them to NCC for address. ‘‘In a society where we think government provides everything we need, it is good we have community involvement. We live with these people in the community, if we become our community watch, even with all these crisis like Boko Haram, such crisis will addressed. It is good they go round. This is a good development.’’

https://www.akelicious.net/2018/11/treat-telecom-infrastructure-as.html

FSDH Merchant Bank Plc has predicted that about N2.82 trillion coming from matured government securities and Federal Account Allocation Committee (FAAC) are expected to hit the Nigerian money market this month.

The bank also projected a total outflow of approximately N1.03 trillion from various sources, including government securities and statutory withdrawals, leading to a net inflow of about N1.79trn.


The Head of Research and Strategy at FSDH Merchant Bank Limited, Mr. Ayodele Akinwunmi, while speaking on the firm’s latest monthly economic and financial market outlook report released recently.

The report was titled: “Local Competitiveness: A Prerequisite for Inclusive Growth.”

Presenting the highlight of the report, the Akinwunmi, reiterated the need for the diversification of the economy in order to drive inclusive growth and competitiveness.

According to him, the Nigerian economy has the potential to grow faster than the projection by the International Monetary Fund (IMF) and other organisation.

He added: “Even though FSDH is of the opinion that the Nigerian economy has the potential to grow faster that the projection of the IMF, this can only happen where we have coordinated set of policies that will unleash the economy: paying attention to power, paying attention to our infrastructure, involving the private sector, paying attention to our education system, paying attention to adoption of information and communication technology (ICT), to ensure that we are not lagging behind in the fourth industrial revolution which is digital revolution.

“We need to involve private sector operators in ensuring that we lay the foundation for a sustainable growth of the Nigerian economy and to diversify the revenue streams of the economy.”

According to him, “the more we create local competitiveness to make our local economy attractive, the better for us.

“And it comes in various ways: in terms of infrastructure, in education, right policies to develop the right education skills training to make people employable, right health facilities.”

Akinwunmi anticipated an uptick in inflation, to be, “driven by the escalation in price of food and account of the food shortage, the clash between herdsmen and farmers, the flooding issue that we had across the country. And maybe, if the minimum wage is approved for payment, it may likely have some little additional increase to it.”

He noted that if the ongoing agitation for an increase in minimum wage is approved and it leads to upsurge in liquidity in the system, the Monetary Policy Committee may intervene by adjusting the Cash Reserve Requirement (CRR) to soak the liquidity.

On capital flight, Aknwunmi said: “The capital flight will continue to increase because of the increase in rates in developed countries, which we call a saving haven. And it’s putting a lot of pressure on foreign exchange.”

https://www.akelicious.net/2018/11/n282trn-to-hit-money-market-in-november.html

Nigerian Senator Enyinnaya Abaribe, on Wednesday, said Nigeria has taken one step forward and 10 steps backwards during plenary.

The senator representing the Abia-South Senatorial District of Abia State decried the critical state of pipe-borne water in the country.

“It is only in Abuja that one can find pipe-borne water. It’s a disgrace to Nigeria. We’ve gone one step forward and 10 steps back. We should be providing pipe-born water to every household in Nigeria,” he said.


Abaribe was reacting to Senator Dino Melaye’s comment on the alarming rate of scarcity of water supply in the nation.

Melaye said, “The Nigerian water sector is in critical condition. The situation is alarming and calls for immediate intervention.”

Senator Abaribe stated afterwards that an investigation should be made by the “committee” to find out what the fund on water has been used on.

Consequently, the Senate directed the committee on water supply to carry out a holistic investigation into the declining state of water in Nigeria. The Red chamber also urged the federal government to embark on a long-term commitment to find a pathway for better water delivery in Nigeria.

Senate President Bukola Saraki said the senate needs to get to the bottom of the water issue and find a solution that will improve water supply to Nigeria.

Saraki said the committee should take the work with the importance it deserves and quickly carry out investigations to particularly block the leakages in the area of corruption

He added, “This is of great concern to us. As a country, it is very embarrassing if our decline has gone down to 7% from 32%. As we all know, as a country, there must be adequate water supply for all our operations.”

https://www.akelicious.net/2018/11/nigeria-has-taken-10-steps-backwards.html

Nigerian Air Force (NAF) jet fighters and attack helicopters yesterday bombarded terrorist locations in Ngwuri Gana in Borno State.
The attack followed reports that large numbers of Boko Haram operatives were planning to launch attacks on troop positions from the identified settlement. The bombings led to the death of many of the terrorists and the destruction of the group’s communication centre where its flag was hoisted.

Confirming the development, NAF, spokesman, Air Commodore Ibikunle Daramola, said NAF launched coordinated attacks on various targets.
“The Air Task Force (ATF) of Operation Lafiya Dole, yesterday, destroyed a Boko Haram camp and neutralised several terrorists at Ngwuri Gana in Borno State. “The operation was carried out based on human intelligence reports indicating that the settlement was one of the locations from where terrorists launch attacks against troops’ positions and villages around the general area of Kumshe.


“Intelligence, Surveillance and Reconnaissance (ISR) missions later confirmed the presence of a large number of the terrorists in the settlement and also identified a suspected communications centre with Boko Haram flag and solar panels mounted. “Accordingly, the ATF launched a coordinated attack on various targets within the settlement employing Alpha Jet and F-7Ni aircraft as well as Mi-35 attack helicopters leading to the destruction of communication centre and neutralisation of several terrorists”, he said.

Daramola said “the NAF, working in concert with surface forces, will sustain the tempo of operations with a view to destroying all remnants of the terrorists in Borno State”.

https://www.akelicious.net/2018/11/naf-fighter-jets-helicopters-bomb-boko.html

The Minister of Communication, Adebayo Shittu has disclosed that the country has achieved a broadband penetration of 23 percent from a penetration of 14 percent in 2014.



He made the disclosure at the 2018 eNigeria conference organised by the National Information Technology Development Agency (NITDA) at the International Conference Centre, Abuja.

Recall that in line with the declaration of the International Telecoms Union (ITU) to make broadband accessible to all citizens by 2020, the Federal Government in 2013 had set a target to achieve a 30 per cent broadband penetration by December 2018.


The minister noted that the 23 per cent broadband penetration was possible because the government realised the role broadband plays in the development of the Information Communication Technology (ICT) sector.

“This informed our decision to develop a national broadband plan with the aim of increasing the penetration to 30 per cent, up from 14 per cent in 2014. I am happy to inform you that we have been able to achieve a penetration of 30 per cent and we are not resting on our oars until we achieve our target.”

The minister also stated that the foreign investment in the ICT sector has increased from $3.2billion in 2015 to 4$ billion in 2018. This, he said, was a result of the friendly policies initiated by the current administration that promote startups and existing business.

He observed that emerging technologies are creating new industries with opportunities, adding that Nigeria can leverage on these technologies to attract Foreign Direct Investment to the sector.

https://www.akelicious.net/2018/11/broadband-penetration-hits-23-says.html

The Department of Petroleum Resources (DPR) says government is leaving no stone unturned to ensure surplus of Premium Motor Spirit (PMS) and stall the speculated end-of-the-year scarcity.

Mr Wole Akinyosoye, the Zonal Operations Controller of DPR, Lagos Zonal Office stated this at the 2018 Annual DPR and Petroleum Marketers Meeting in Ibadan on Tuesday.

News Agency of Nigeria reports that the event organised by DPR Ibadan field office had the theme: ‘’Making Safety and Integrity the Hallmark of our businesses’’.

“We are confident that the right lessons have been learned from all sides from the 2017 experience and all hands are now on deck to ensure it does not repeat this year.

“Government is leaving no stone unturned. NNPC is working round the clock to keep up with supply and bridge all gaps in all areas; especially in shoring up strategic reserves.

“DPR is also committed to constant surveillance to ensure fair practice at the forecourts. We therefore require your support you who are the last line to the consumers to keep the product lines flowing to the general public,” Akinyosoye said.

Akinyosoye stressed the importance of following DPR guidelines and safety in setting up retail businesses; especially when as pertained to Liquefied Petroleum Gas (LPG) business which had gained ground momentarily in the last few years and had wreaked havoc in most homes across the country.

“Let us remind ourselves that it is also illegal to operate an LPG skid even in DPR-approved petrol stations.

“Holding a license to operate a petrol station does not entitle a dealer to set up a gas skid without obtaining the due approvals for the operation from the department, and the dealer must always take care to operate in safe manners even under license,’’ he said.

Mr Oluyemi Olaonipekun, the Operations Controller of DPR Ibadan said that DPR would maintain its statutory role of ensuring high level of compliance to government policies as relating to the petroleum industry.

“As the downstream petroleum industry continue to grow and evolve; it is imperative that we all brace up to live up to the expectations of government and beneficiaries of our services.

“Safety of lives and property including our assets should not be taken with levity at this time. No cost incurred on safety is too expensive when compared to the cost when accident occurs,” Olaonipekun said.

While reviewing the activities of DPR till date, the Head Operations, DPR, Mr Danjuma Sadiq charged petroleum marketers on global best practices and safety.

According to him, there are 170 licenses yet to be collected by petroleum marketers, while 279 have been abandoned in retail outlets in both Oyo and Osun states with 2,436 retail outlets operations.

https://www.akelicious.net/2018/11/end-of-year-fuel-scarcity-rumour-untrue.html

The Minority Leader of the Kano State House of Assembly representing Kura/Garun Malam constituency, Alhaji Abdullahi Muhammad-Chiromawa has defected from Peoples Democratic Party to People’s Redemption Party.

The member announced his defection while briefing newsmen in Kano.

Muhammad-Ciromawa also said he has resigned his position as the Minority Leader of the assembly.

According to him, the decision to defect from PDP to PRP was to join his political Godfather, Alhaji Salihu Sagir-Takai, who had recently dumped the PDP for PRP.

“PDP is no longer politically habitable, that is why I’m leaving the party to better my political career and also to avoid being trapped in a political cross-fire,” he said.

He explained that his decision was due to the gross impunity and power tussle bedevilling the two major parties in the state.

The News Agency of Nigeria (NAN) recalls that the former Deputy Governor of state, Prof Hafiz Abubakar who resigned his position and defected to People’s Democratic Party, had also dumped the PDP for PRP.

https://www.akelicious.net/2018/11/kano-assembly-minority-leader-dumps-pdp.html

Ondo State Civil Service Commission has announced the promotion of 7,075 workers.Chairman of the commission, Dr. Afolabi Adewakun, disclosed this yesterday at a press conference in Akure, the state capital.He said the civil servants who benefited from the exercise were those who passed the 2018 promotion exercise across the Ministries and Extra Ministerial Departments (MEDs) in the state.

He disclosed that the promotion took effect in January 2018, while the financial benefits to the civil servants commenced on October 1. Adewakun further explained that the promotion was unprecedented in the state, following the early approval given to it by Governor Oluwarotimi Akeredolu, adding that he approved it as early as August this year and prevented it from being delayed till December.

The chairman stressed that the governor, despite the crunching economic challenges, chose to promote the workers to enhance higher productivity and better service delivery for the benefit of the people. He revealed that a total of 1,742 officers were promoted, based on the briefs forwarded to the commission by the Office of the Head of Service, Office of Establishments and Training, as well as various MEDs.

“The same exercise was carried out in all the self-accounting agencies, boards and parastatals of government, where another 5,333 officers were promoted,” he said.

Comparatively, the chairman added, 6,941 civil servants were promoted in 2017 and 7,075 in 2018, leading to a total of 14,016 civil servants in the governor’s two-year old administration.

Adewakun enjoined the workers to remain loyal, diligent and more responsible, as a way of reciprocating the good gesture of government. He congratulated all the newly promoted officers and implored them to “realise that promotion calls for more dedication, diligence and responsibility.”

https://www.akelicious.net/2018/11/ondo-government-promotes-7075-civil.html

The All Progressives Grand Alliance (APGA) stakeholders in Enugu State have made a passionate appeal to the Independent National Electoral Commission (INEC) to give certificates of returns to acclaimed winners of primaries for governorship, Udi/Ezeagu Federal Constituency and Awgu North Constituency in Enugu State, Mr Bede Chukwuekezie, Emmanuel Ozoene and Chijioke Udeani to get themselves ready for the 2019 general elections.

In a petition addressed to the national leadership of the APGA, signed by sixteen council chairmen of the party in Enugu State, Chukwuekezie was said to have had 45 votes out of 46 total votes cast, while his opponent got one vote only during the primary election. The signatories wondered why a certificate of return from the INEC should not be given to him “in an election he won as counted before the INEC officials, party delegates and journalists.”

The primary election was said to be witnessed by all the local government APGA chairmen in Enugu State with the exception of chairman of Enugu North and Igbo Etiti council areas who were said to be unavoidably absent during the primary election.

The protesting APGA stakeholders appealed to the party’s national leader, Governor Willie Obiano of Anambra State, national chairman of the party, Chief Victor Oye and other APGA stakeholders to cause the INEC to issue the acclaimed winners with certificates of returns immediately for the interest of peace and the party progress in Enugu State. They said that denial of the certificates of returns to the aggrieved members would not be in the interest of the party even as the 2019 general elections are fast approaching.

“APGA Enugu is ready for the elections 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 but 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 State and we demand the party leadership to give our candidates their certificates of return and summit their names to INEC so that we can begin preparations 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, “the APGA stakeholders submitted.

https://www.akelicious.net/2018/11/crisis-looms-in-enugu-apga-over.html

The Maritime Academy of Nigeria (MAN) has commenced partnership with the Nigerian Maritime Administration and Safety Agency, (NIMASA) on the provision of standard facilities for the academy in Oron.

The Rector of the Academy, Mr. Duja Effedua, said the facilities were to equipped the institution to be in line with internationally acceptable specifications.

It is to enable the academy to attain compliance with the International Convention on Standards of Training and for watch-keeping for Seafarers (STCW 1978) and as amended in 2010.

The academy which graduated 325 marine engineers for the 2017/18 academic session, he said was “fully equipped with multimedia classrooms with fire training grounds and custom purpose built swimming pool as well as realistic simulation environment are some of the new innovations his team and NIMASA are working on’’.

”We have structured and have gotten 60 per cent right. Presently we are sourcing for qualified lecturers home and abroad.

”We are also remodeling the classrooms, hostels as well as the library.

“I am glad to announce that the management of NIMASA has promised to be with us all the way in terms of financial support,’’ he said.

According to him, a new simulation centre, which NIMASA has commenced the process of equipping to international training standards, is under construction.

Effedua said, “Dr Dakuku Peterside is a person who matches words with action.

“NIMASA has commenced the process of acquiring a simulator amongst other equipment for training of our cadets to ensure that Certificates of Competencies (CoCs) issued here attain global recognition.

“I believe before the end of the 2019 academic session, we shall be one of the best maritime academies in Africa.’’

The News Agency of Nigeria (NAN) reports that, the Director-General of NIMASA, Dr Dakuku Peterside had assured the students and stakeholders of the Agency’s commitment to ensure capacity development in the sector.

The DG had commended the MAN team for judicious utilisation of funds disbursed to the institution and assured the rector of NIMASA’s backing.

“Since Simulators are not acquired off the shelf, NIMASA and MAN Oron management have commenced the process of building one to specification for the simulation centre here.

“Our goal is to ensure MAN, Oron, attracts not only Nigerians, but also international students so we can completely domesticate maritime training here in Nigeria,” Peterside he said.

A total of 613 graduates made up of 325 Marine Engineers, 142 Nautical Scientists and 146 Maritime Transport Engineers were awarded Diploma Certificates for the last session.

The Maritime Academy of Nigeria is Nigeria’s premier maritime institution, charged with the responsibility of training all levels of manpower to man vessels.

The Academy is listed in the International Maritime Organisation’s White list of Institutions that have fully complied with the STCW 1978 Convention, as amended in 2010.

NIMASA by law is responsible for funding of the institution by providing 5 per cent of its revenue to MAN Oron.

https://www.akelicious.net/2018/11/academy-partners-nimasa-on-facilities.html

The recent publication of list of debtors by the Asset Management Corporation of Nigeria (AMCON) has been welcomed by experts who believed the move will boost the recovery of existing huge non-performing loan (NPLs) by the corporation.

Although mixed reaction had trailed the action by AMCON, especially its legal implication, some experts who spoke to Akelicious, however said the move by the corporation was a step in the right direction.

Former Managing Director, Unity Bank Plc, Dr. Mohammad Rislanudeen and a Professor of Finance and Capital Market at the Nasarawa State University, Keffi, Prof. Uche Uwaleke told Akelicious over the weekend that naming the debtors, including prominent Nigerians would be a game changer in its recovery drive.

According to Rislanudeen, the NPLs which stood at about five per cent when the debts were acquired by AMCOM in 2011, now averaged about 15 per cent, implying that more loans had gotten bad.

He said both AMCON and the debtor entities are currently in a dilemma-“because that chunk of money- over N4 trillion are tax payers’ money which was used rightly to ensure financial stability. And it’s the responsibility of AMCOM to recover these loans.”

However, the ex-banker added, publicising the identities of debtors in an effort to compel them to pay represented, “a right thing to whatever AMCON will do to ensure that those loans were recovered.”

Contrary to suggestions of a possible backlash, he said: “I don’t see any negative implication for the economy.

“If you are in business, you won’t like your business to fall. For instance, if you are indebted to AMCON to the tune of N1 billion and you’re doing good business, AMCON will never come to you and demand that you pay all the money at ago.

“All AMCON will want from you is to sit down with them, agree on the exact amount and restructure the facilities to be paid over a period of time based on your own cash flows.

“All AMCON wants is ownership: agreeing that you’re indebted and that you’ll start to pay.

“So anyone that’s in good business and is not ready to pay debts, then he should as well allow his business to go.

“If we don’t do that, we’ll continue to have this problem of moral hazard and adverse selection. It means even from day one, both the borrower and lender knows that the facility can get bad and yet they went ahead because they know at some point, somebody will take over.”

He added: “People will just go to bank, borrow money and then refuse to pay. On the part of the banks, because they know there’s AMCON- there’s always a place to sell the loans- it will be an unending vicious cycle.”

In the same vein, Uwaleke posited that the publication of the list of debtors would go a long way to aid recovery of most of the debts that AMCON took over from distressed banks.

He added:” AMCON is meant to be a temporary resolution vehicle and therefore should be seen to be ready to activate its sunset clause any time soon.

“This is one of the steps it should be taking to recover the debts owed it in preparation for winding down.”

According to the professor: “One implication of this sort of action is to send the right signals to bank customers with a reputation for loan defaults that they are expected to honour their obligation to the banks as at when due or risk being named and shamed.

“This will help to reduce the high level of non-performing loans in the banking industry. So, I think the development bodes well for financial system stability.”

Nevertheless, the former Unity Bank boss said AMCON was unlikely to wind up its operations by 2020 given that it “will not be able to recover those loans.”

He said: “So if they (AMCON) don’t recover the loans and more loans are getting bad, and there may be another pressure for another round of AMCON; because now, there’s Polaris Bank- that has huge bad debt…Now it has been liquidated and the entire share now belong to the NDIC and after some time, it’ll be handed over to AMCOM.”

https://www.akelicious.net/2018/11/publishing-debtors-list-will-enhance.html

The All Progressives Congress has alerted the Economic and Financial Crimes Commission (EFCC) and other security agencies of possible sinister motives behind recent Dubai meeting of the opposition Peoples Democratic Party (PDP) and leading figures of Atiku Abubakar 2019 campaign, and called for investigation.

Quoting media reports, APC said the strategy meeting allegedly was to device plan on how to oust incumbent President Mohammadu Buhari.

It claimed that aside Atiku Abubakar and his running mate Peter Obi, Uche Secondus, PDP national chairman and Senate President Bukola Saraki, Director of Atiku/Obi 2019 Campaign were in attendance.

APC through its Deputy National Publicity Secretary, Yekini Nabena, said that the purpose of the meeting may not be what the media report says, imputing sinister motives.

He alleged that the meeting may have focused on how to move illicit cash meant for the rigging of the 2019 election.

He listed other ossible motives behind the meeting including sponsorship of violence in the run to the election, citing the 2015 experience when a large cache of cash was ceased enroute South Africa from a private aircraft belonging to an associate of the government of PDP.

Nabena alerted that the party may have returned to its old ways.

He said: “Peoples Democratic Party (PDP) presidential candidate, Alhaji Atiku Abubakar, his running mate, Mr. Peter Obi; Senate President, Dr. Bukola Saraki and the party’s National Chairman, Uche Secondus met in Dubai few days ago according to media reports to plot strategies to oust President Muhammadu Buhari in next year’s election.


“The purpose of the said meeting is both comical and ridiculous as they have held several meetings for the same purpose in Nigeria. Clearly, the meetings held in Nigeria did not yield their desired results, hence, a follow up meeting in Dubai. But we know the way of these set of politicians and the political party they represent.

“There is more to the meeting that meets the eye. Nigeria has enough meeting/conference rooms, many of which meet international standards. It is therefore clear that the Dubai meeting is for other sinister political purposes ahead of the 2019 elections.

“Our intelligence, anti-graft and security agencies must be awake to its responsibility of investigating the Dubai meeting. Cash and carry politicians must be prevented from moving illicit cash around to induce voters and sponsor election violence and rigging.

“Again, relevant agencies must check suspicious movement of cash both locally and internationally by politically exposed persons under the guise of a “Dubai meeting” or any clandestine meeting.

“We are mindful of how millions of dollars were confiscated in an aircraft belonging in a Nigerian PDP sympathizer in South Africa in the leadup to the 2015 elections. The case of N250 million cache found in the Mr. Peter Obi’s private office in Lagos remains unresolved. Another round of election is here and it is not unlikely that they are playing a repeat performance, under the guise of holding a meeting in Dubai. Our security agencies should be on the watch for a stitch in time saves nine”.

https://www.akelicious.net/2018/11/apc-asks-efcc-security-agencies-to.html

Mum of one and Nollywood actress Lilian Esoro has won Best African Actress of the year award courtesy AFRICAN FILM AWARDS.

See the ward and write up below…

We brought this home too guys.
BEST AFRICAN ACTRESS OF THE YEAR 2018.
Thanks to everyone and the organizers of AFRICAN FILM AWARDS
It’s our season beautiful people.
Thanks Mark n Yemisi for picking it up for me. Appreciate

More photos at https://www.akelicious.net/2018/11/photos-nollywood-actress-lilian-esoro.html

The Nigerian National Petroleum Corporation (NNPC) Thursday said it had signed a six-month crude-for-product deal with BP Oil International Ltd, to supply Nigeria petrol ahead of the upcoming Yuletide and 2019 general elections.

This is coming as Brazil’s Petroleo Brasileiro SA will sell its 50 per cent stake in a Nigerian oil and gas exploration venture to a consortium led by top oil trader, Vitol for $1.53 billion.


This divestment is the latest step in the Brazilian state-controlled oil company’s debt reduction drive, according to a securities filing on Wednesday.

NNPC said in a statement by its Group General Manager, Public Affairs, Mr. Ndu Ughamadu, that the BP deal was part of the corporation’s Direct Sale-Direct Purchase (DSDP) petrol supply framework.

Ughamadu added that the deal would ensure robust supply of petroleum products across the country and especially going into the Yuletide period and elections which are due early in 2019.

According to the corporation, its deal with the BP will cover up to 20 per cent of the total petrol supply under the DSDP arrangement.

It added that the DSDP basically allows it to exchange crude oil with international oil traders for imported petroleum products over a period of time.

The statement quoted the Group Managing Director of NNPC, Dr. Maikanti Baru, as saying shortly after signing the agreement, that the corporation was committed to ensuring that petrol remained available in Nigeria, and would invite new and old players to participate in the industry.

Baru, explained that over the years, BP had demonstrated the capacity and robustness to augment the forecasted petrol shortfall by NNPC, especially as the winter period approaches and as Nigeria’s elections get underway early into the New Year.

“As a reliable supplier, we think BP is a brand that we can always partner with. We trust the company and we have a good relationship with it. We also believe in the company’s commitment towards the development of local content,” said Baru in the statement.

He commended BP for choosing to partner with AYM Shafa, a local oil company, which he said had been expanding its downstream footprints across the nook and cranny of the country.

According to Baru: “BP’s partnership with AYM Shafa towards delivering on its DSDP obligations makes it a perfect fit for our plans to ensure that there is adequate supply of products throughout the coming Yuletide and even beyond the election period.
“In AYM Shafa, you are talking of a local company with over 150 retail outlets, depots as well as a good network of trucks nationwide.”

Responding, the Head of Marketing and Origination of BP’s oil trading business, Mr. John Goodridge, said in the statement that it was a great honour for his company to be trusted by the NNPC as one of its strategic suppliers.
“We are delighted to have the opportunity to work more closely with the NNPC. Going forward, we hope to grow this mutual relationship to greater things,” Goodridge said.

He stated that his company has a global network of refineries capable of generating the products to meet NNPC’s demands, adding that the objectives is to ensure that over the next six months, Nigeria does not witness any products shortages.

The DSDP was introduced in 2016, as a model carried out through direct sales of crude oil to refiners or consultants, who in turn supply NNPC with equivalent worth of products.

Since its inception, the DSDP model has saved NNPC millions of dollars that would have been paid through demurrage, and also proven to be a major component of its petroleum products supply portfolio which ensures stability in products supply nationwide.

Petrobras to Sell Stake to Vitol-led Group for $1.5 bn

Brazil’s Petroleo Brasileiro SA will sell its 50 per cent stake in a Nigerian oil and gas exploration venture to a consortium led by top oil trader Vitol for $1.53 billion.

This development is the latest step in the state-controlled oil company’s debt reduction drive, according to a securities filing on Wednesday.

The other 50 per cent stake in Petrobras Oil and Gas BV, also known as Petrobras Africa, is owned by Brazilian investment bank BTG Pactual, which in a Wednesday filing confirmed a Reuters report that it would likely hang on to its portion after previously mulling a sale.

Petrobras, one of the world’s most indebted oil majors, had targeted $21 billion in asset sales for 2017 and 2018, but only succeeded in unloading $9.5 billion worth by the end of the first half.

The deal involves a stake in some of two deepwater exploration blocks that are among Nigeria’s largest and lowest-cost fields.
Swiss-based Vitol is expected to shoulder the largest part of the investment, spending an estimated $1 billion, according to a Reuters report in June about the oil trader’s interest..

Vancouver-based Africa Oil Corp and Delonex Energy, an Africa-focused oil company, are members of the consortium.
Petrobras earlier this year sold a 25 percent stake in Roncador, one of Brazil’s largest oil fields, to Norway’s Equinor ASA for about $2 billion.

It is also in talks to sell its TAG gas pipeline unit, probably to a group led by France´s Engie SA, for more than $7 billion, although the process has been halted by a Brazilian Supreme Court injunction.

https://www.akelicious.net/2018/11/nnpc-shores-up-fuel-supply-with-bp-oil.html

The New Initiative For Credible Leadership (NICreL) on Thursday adjudged President Muhammadu Buhari as the most credible option among other candidates contesting for the presidential seat in the 2019 general elections.

The Executive Director of NICreL, a Civil Society Organisation (CSO), Rev. Samson Onwu, said this in a statement made available to newsmen in Abuja.

Onwu, who observed that President Buhari had lived up to expectations of Nigerians since assuming office in 2015, said the group arrived at the conclusion after a critical analysis of other presidential candidates.

He highlighted some of the achievements of the president to include increase in foreign reserve, completion of abandoned projects as well as improved security architecture of the country.

While also noting that Buhari, who is the presidential candidate of the All Progressives Congress (APC) was also rated ahead of other contenders because of his selflessness, the executive director said other presidential candidates were only in the race for personal interests.

”Having appraised all the candidates and carefully analysed their different abilities vis a vis their various stints at public office, we have reached the conclusion that none of them is a better option than President Muhammadu Buhari, judging by antecedents, performance and character.
”To appreciate this view, it is important that we take a look at where we were as a nation in 2015 and where we are now.
”The insecurity in the country was so pronounced that it was basically the major issue in the presidential campaign of that year.
”Fourteen local governments, about the size of Belgium, were already under Boko Haram control with flags hoisted as their territory in the North- East,then.
”Boko Haram attacks were common occurrences, even in the Federal Capital Territory FCT.
”The foreign reserves dwindled tremendously from a whopping $48b in 2007 to as low as $29b dollars in 2015, despite the fact that oil was sold at unprecedented high prices, sometimes even as high as $147 per barrel.
”Yet, there were no savings but a depletion of the existing saving. That was the kind of economy and government that was handed over to the Buhari administration,” he explained.
He said in the past, abandoned projects littered everywhere but with the coming of the current government, abandoned projects were being completed.
Onwu said while past governments derived pleasure from looting the treasury, Buhari out of his patriotic zeal introduced measures to block all the loopholes.
”This was one of the major actions that got us out of a recession,” he said.
He, therefore, called on the electorate to vote massively for the Buhari candidacy in 2019.

https://www.akelicious.net/2018/11/buhari-most-credible-for-2019-cso.html

The Senate Committee on Local Content on Thursday queried lopsided shareholding structure in favour of foreign component in Halliburton Nigeria.

Chairman of the committee, Sen. Solomon Adeola, raised the concern during a tour to Halliburton Nigeria in Port Harcourt, as part of its two-day oversight visit to Bayelsa and Rivers.

Adeola queried reports that shareholding in Halliburton was 30 per cent for the Nigerian component and 70 per cent for Halliburton global.

He also deplored the fact that Halliburton Nigeria was not listed on the Nigeria Stock Exchange.
He requested the company to submit its payroll to ascertain disparity in remuneration for foreign and Nigerian workers.
Adeola also directed the company to “submit tax certificate, financial statement and other documents, to ascertain level of compliance with local content regulation.”
He asked that company to furnish the committee with its recruitment process as well as level of involvement of local communities in the company’s activities.
Responding, Deputy Managing Director of the company, Mr Okey Okoli, assured that all the documents requested would be made available to the committee.
He said the company was 97 per cent Nigerian, with 606 indigenous staff “and only three per cent foreign”, accounting for 22 expatriate workers.
Okoli added that the company was in strict compliance with tax remittance and the one per cent remittance to the Nigerian Content Development Management Board.
He disclosed that there was no disparity in the salaries and allowances paid to indigenous workers and foreigners, adding that Nigerians who worked in foreign offices were paid “hardship allowance” like foreigners were paid in Nigeria.
“We do not have shortfall in terms of compliance with one per cent remittance to NCDMB.
“Our shareholding structure is 70 per cent global and 30 per cent local.
“In terms of capacity-building, we noticed a challenge for local companies to train Nigerians abroad, so we opened a training centre in Akwa Ibom state,” he said.
Okoli,who is also Country Business Development Manager Nigeria, West Central and East Africa Area of the company, however, noted that the training was mainly in oil and gas.

https://www.akelicious.net/2018/11/senate-queries-halliburton-over.html

Gunmen have kidnapped a Naval personnel, simply identified as Kola, along the Sapele/Benin road in Delta State.

It was learnt that the kidnappers are currently demanding a N4 million-ransom from the families of the Naval personnel.

Akelicious gathered that the officer was returning from a course in Sapele when the gunmen attacked and whisked him to the forest.


At the time of filing this report, the Police are combing the area with a view to rescuing the victim unhurt.
The Delta State Acting Police Public Relations Officer, DSP Andrew Aniamaka, confirmed the development in a chat with our correspondent.
DSP Aniamaka said, “There’s a report of kidnap. The person allegedly kidnapped is a Seaman. His name is Omoniyi K D.

“He was last seen in the evening of 29th when he drove out of the Naval Engineering College, Sapele in his Toyota Picnic vehicle.
“The hoodlums called with his old number and are demanding for four million naira.
“The Police is doing everything possible with all the relevant Security Agencies towards his rescue and the apprehension of the hoodlums.”
The Commander of the Nigeria Navy Ship, NNS Delta, Commodore Ibrahim Dewu did not pick up calls neither did he reply text messages put across to his mobile phone as at press time.
As at the time of filing this report, there is serious tension within the area where the incident occurred.

https://www.akelicious.net/2018/11/breaking-gunmen-kidnap-naval-personnel.html

Nigerian President Muhammadu Buhari has appealed to aggrieved members of the All Progressives Congress (APC) not to leave the party after they failed to win in their respective primary election.

Most of the aspirants faulted the entrenchment of internal democracy in the party, with allegations of bias in the conduct of the APC’s National Working Committee led by its chairman Adams Oshiomole.

Oshiomole has been under fire to retain his position in the party after the governors Ibikunle Amosun of Ogun, Rotimi Akeredolu of Ondo and other governors allegedly planned to oust Oshiomole as the party’s chairman.

Buhari had earlier asked aspirants who failed in their bid to secure the party’s ticket to emulate Lagos governor Akinwunmi Ambode who lost his return ticket to a former commissioner in the state Babajide Sanwo-Olu.


The president at a dinner with the aggrieved aspirants in Abuja urged them to be patient, remain with the party and work for its success during the 2019 elections.

Those in attendance included gubernatorial, national and state assembly aspirants who failed to secure the party’s tickets in the forthcoming general election.

“I spoke with the APC party chairman almost every other day, at least for an hour during the primaries. And sometimes, we met for two and half hours on ensuring internal democracy during the primaries,” Buhari said.

He pointed out that in spite of all efforts to appease everyone and give them a chance at the polls, some aspirants were still not treated fairly.

“I urge you to stay faithful if your objective is to serve the country. I came back to power in this ‘agbada’ to convince Nigerians to make sacrifices that the country needs now for a better future,” Buhari said.

Nasarawa state governorship aspirant, Aliyu Wadada, said the president assured the aspirants that justice will be done as their cases would be looked into.

“The president told us his experiences from the military to civilian eras, adding that naturally it is never easy when your mandate is forcefully taken but whatever it is, we should remain as a family,” Wadada said.

Senior special assistant to the President on National Assembly matters, Ita Enang, also said the aspirants pledged to work for the success of the party in next year’s election.

Enang said the meeting was one of the greatest steps taken by Buhari and the APC to bring every aggrieved person together to ensure victory at the 2019 polls.

Full details at https://www.akelicious.net/2018/10/breaking-buhari-begs-aggrieved-apc.html

Dangote Oil Refinery Company (DORC) says the 650,000 barrels per day refinery has been designed to process a variety of light and medium grades of crude and produce extremely clean fuels that meet Euro V specification.

Nigeria has remained a home for dirty fuels (with sulphur), which results in vehicle emissions that negatively impact on health and environment. The presumed ban on such products is not having the desired effect.

Speaking on ‘Promoting Efficiency and Clean Fuels in African Refining and Petrochemicals Market’ at the Oil Trading and Logistics (OTL) conference in Lagos yesterday, Dangote Group’s executive director, Devakumar Edwin, said that the refinery was investing in the most advanced units to produce Euro V fuel to help Nigeria meet the European standard of gasoline.

Edwin, who was represented by the director, business strategy and optimisation, Dangote Refinery, Srinivas Rachakonda, said that the refinery would provide thousands of direct and indirect jobs and add value to Nigeria’s economic development.He noted that the facility would lead to significant skills transfer and technology acquisition opportunities in the country.

The group has embarked on a landmark integrated refinery and petrochemical project, regarded as the largest industrial complex in the history of Africa, which is expected to take Nigeria to new heights through transformation of the economy, he added.

According to him, the refinery will ensure the security of local supply of petroleum products as well as the availability of petrochemical feedstock (poly-propylene and polyethylene), enough for the Nigerian market and neighbouring countries.He noted that the refinery would also produce carbon black feedstock and sulphur.

Rachakonda disclosed that the company invested in the East West Offshore Gas Gathering System (EWOGGS) project, which is expected to unlock significant gas supply and help to reduce gas flaring in Nigeria.

The first phase is expected to deliver gas for the use of Dangote industries, including the proposed fertiliser plant in the refinery complex, and other identified industrial and power plant users. Speaking during the session, former executive secretary of the Petroleum Product Pricing Regulatory Agency (PPPRA), Reginald Stanley, said that Dangote Refinery “is going to be a game-changer” for the entire African downstream industry.

He condemned the continuous importation of dirty fuel.“Emission is the highest killer today in Nigeria. I commend Dangote Refinery for its decision to produce Euro V specification of gasoline. Dumping of toxic fuel in the country is not acceptable. The earlier they stop it, the better for us,” he added.

https://www.akelicious.net/2018/10/dangote-to-address-dirty-fuels-issue.html

A pro-Peoples Democratic Party (PDP) group and strong campaigner of Governor Nyesom Wike and Alhaji Atiku Abubakar for 2019, the Grassroots Development Initiative (GDI), has urged President Muhammadu Buhari to conduct free, fair and credible elections next year.

The group has also appealed to the president to emulate his predecessor, Goodluck Jonathan, who conducted a transparent election devoid of violence that brought him (BUhari) to power in 2015.

The group, however, vowed to protest against any form of electoral fraud.

This was even as the Rivers State Commissioner for Information and Communications, Emma Okah, has said that Governor Wike never lost any battle involving him.

Immediate past Publicity Secretary of PDP in the state and Chairman, Ikwerre Local Government Area, Samuel Nwanosike, made the statements, on Monday, at the official commissioning of Wike and Atiku campaign secretariat in the area.

Nwanosike, who is also the Secretary General of GDI, stressed that the president should avoid any act that would cause national crisis during and after the forthcoming polls.

Said he, “This group is the foot soldier of PDP. We are prepared for the 2019 elections to make sure Governor Nyesom Wike is re-elected and Alhaji Atiku Abubakar wins the presidential election.

“We urge President Buhari to conduct a free and fair election like his predecessor, Dr. Goodluck Jonathan, who honourably handed over to him in a very transparent election without any shedding of innocent blood.

“What we expected from him is to give Nigerians a credible election. He enjoyed that opportunity from former President Goodluck Jonathan.

“We don’t want to see the Ekiti saga; the Osun saga in 2019. He should emulate Goodluck Jonathan.

“The international community should come to the aid of the Nigerian electorate in 2019, because anything that would cause crisis in the country, should be avoided.

“Nigerians will resist any attempt to subvert the will of millions of the electorate. We will stage protest against any rigging.

“Why we want the international community to prevail on the president is because any crisis that erupts in the Nigeria will affect other countries negatively,” Nwanosike warned.

The former PDP spokesman added that the group would embark on a door-to-door campaign to work for the victory of Wike and Atiku in the polls.

Also speaking, the Information and Communications Commissioner, Okah, charged GDI members to have confidence in Governor Wike’s doggedness and exemplary leadership vision for Rivers.

https://www.akelicious.net/2018/10/2019-well-protest-electoral-fraud-pro.html

Wife of former President Goodluck Jonathan, Mrs. Patience Jonathan, has asked a Federal High Court sitting Lagos to unfreeze her accounts in which $8.4 million and N7.4 billion were domiciled.

The former first lady, through her counsel, yesterday, passionately argued with the trial judge, Justice Mojisola Olatoregun, why the accounts should be released.

The Economic and Financial Crimes Commission (EFCC) had on April 20, 2018, through an ex parte application, obtained an interim forfeiture of the money.


After listening to Mrs. Jonathan’s counsel’s submission, the judge adjourned the case till November 13, 2018 to take video evidence and for the EFCC to explain why the accounts should remain frozen.

The EFCC had in the suit joined Globus Integrated Services Limited, Finchley Top Homes Limited, Am-Pm Global Network Limited, Pagmat Oil and Gas Limited and Magel Resort Limited and Esther Oba as respondents.

When the case was called yesterday, Rotimi Oyedepo appeared for the EFCC, Ifedayo Adedipe (SAN) appeared for the first respondent, Gboyega Oyewole (SAN) appeared for the second respondent, Mike Ozekhome (SAN) appeared for the third to sixth respondents, and Ige Asemudara appeared for the seventh respondent.

After the respondents’ counsel moved their various motions for regularisation of processes, the court asked the applicant to move his motion for final forfeiture.

Oyedepo told the court that the application for final forfeiture was dated May 8, 2018 seeking an order of the court for a final forfeiture of the sums of money listed in the application.

He added that his application with an affidavit deposed to on May 20, 2018 by Orji Chukwuma, an EFCC operative, told the court that he relies on the written averments, as well as exhibits EFCC 12 and 13, in support of his application.

Oyedepo further told the court that he also relies on the written address on the application and urged the court to grant the application for final forfeiture.

However, Adedipe urged the court to refuse the application for final forfeiture on the grounds that there were insufficient facts before the court to warrant a final order.

He argued that the sum of the applicant’s case is that it found monies in the first respondent’s account, which it said were reasonably suspected to be proceeds of unlawful activities.

He argued that the commission neither invited the respondent nor prosecuted her.

Adedipe also submitted that the applicant failed to take the preliminary steps, but sought an order of forfeiture, arguing that such practice fell short of prosecution procedures.

https://www.akelicious.net/2018/10/patience-jonathan-others-ask-court-to.html

TechCrunch’s Startup Battlefield in partnership with Facebook would hold on December 11, 2018 in Lagos, Nigeria featuring panels and keynotes with high-powered industry leaders such as Omobola Johnson, former minister of communication technology for Nigeria and senior partner at TLcom Capital, and Lexi Novitske of Singularity Investments.

This follows the breakout success of last year’s Startup Battlefield Africa in Nairobi, Kenya. The hottest startups from across the Sub-Saharan Africa region would be competing to be crowned the continent’s best startup, following in the footsteps of 2017 overall winner, Lori Systems hailing from Kenya, who have built a logistics platform that is revolutionising the cargo-transport value chain in Africa.


TechCrunch Startup Battlefield is looking to identify Sub-Saharan Africa’s best innovators, makers and technical entrepreneurs. Last year the competition highlighted how technology is optimising supply chains, increasing access to education, strengthening farmers’ revenues and so much more.

TechCrunch Startup Battlefield Africa would take place in front of a live audience and top judges, and the show would be covered on the TechCrunch platforms. The judges would have to select a winner to be dubbed: “Sub-Saharan Africa’s Most Promising Startup.”

The winning startup’s founders would be awarded $25,000 in cash plus a trip for two to compete in Startup Battlefield at TechCrunch’s flagship event, Disrupt in 2019.



Battlefield Africa would also feature panel discussions that explore the best tech in Africa and how the technology investment landscapes is changing. The first two speakers announced for the event offer direct knowledge about investing Silicon Valley money in the local ecosystem:

Editor at large, TechCruch, Mike Butcher said, “The inaugural edition of TechCrunch Startup Battlefield Africa confirmed that Sub-Saharan Africa is home to a vibrant and growing technology startup ecosystem. We look forward to hearing about how this year’s competitors are disrupting their markets, providing innovative solutions to social and economic problems, and positioning themselves as global contenders.”

Head pf Developer Programmes at Facebook, Emeka Afigbo said “Supporting the next generation and wave of African start-ups is something that we at Facebook are passionate about. Our sponsorship of TechCrunch Startup Battlefield Africa, for the second year running highlights our commitment to the start-up scene on the continent, and helping to provide a world stage to showcase the very best in African talent and solutions.”

Notable companies that launched on TechCrunch’s global stage include Vurb, Trello, Mint, Dropbox, Yammer, Tripit, Redbeacon, Qwiki, Getaround, and Soluto. The 763 startups that have participated since the first competition, TC40 in 2007 have raised $8.2 billion, while 102 have been acquired or have gone public as of December 2017.

https://www.akelicious.net/2018/10/facebook-techcruch-dangle-25000-at.html

Former Governor of Ekiti State, Ayodele Fayose, on Monday advised the Anglican Bishop of Ekiti Diocese, Rt. Rev. Christopher Omotunde to remove the cassock and mount the soap box so that the whole world would know that he has joined politics.


Fayose, who stated this through his Chief Press Secretary, Mr Idowu Adelusi, was reacting to a statement by the Anglican Bishop describing Fayose’s tenure as a waste and non-beneficial to Ekiti people.

Adelusi said only a cleric trying to justify the blatant rigging of the last Ekiti governorship election by the All Progressives Congress (APC) would describe the physical transformation of Ekiti State by the Fayose administration as a waste.


His statement reads, “Even the blind feels the good works of Fayose and perhaps Bishop Omotunde and the likes need to change their eye glasses to see well.

“Our fathers have a saying that it is disheartening when one hears a statement of gullibility from a place where one expects to hear the words of wisdom.

“The records of the Fayose administration are there for all to see. It organised an Education Summit that led to great improvement in education in the state.


“Ekiti came first back-to-back in NECO exams and we also did well in WAEC. These are public institutions and the records are there for Omotunde to peruse.

“The Fayose administration built the first flyover in the state and it passes besides Omotunde’s church. One wonders if the bishop closes his eyes whenever he drives or passes through that place. If he does not, we pray that God opens his spiritual eyes.

“The Fayose government built a new high court complex, a new Governor’s Office, a new Oja’ba Market; dualised roads in Ise, Emure, Ikole, Omuo, Ijero, Efon, among others.

“It also dualized the Ado-Ikere road, built many roads in Ado itself such as Petim- Afao Road and Dehead- Police Headquarters Road. May be the bishop does not pass through these roads!

“Accreditation for various courses in EKSU, School of Nursing, and College of Health Technology was pursued and achieved by the administration. We can go on and list many other achievements in agriculture, health, social welfare and other sectors.

“Yearly, the Fayose administrstion recognised hard-working teachers and civil servants with car prizes and other gifts. Within four years, it was promotion galore for civil servants. Civil servants and teachers will not agree with the untenable and jaundiced position of Omotunde.

“The Ekiti people who Fayose served for almost eight years know that his time was a great blessing to them, which is why they call him the architect of modern Ekiti.

“Bishop Omotunde should remove his priest’s garment and mount the soap box if he is minded to be this politically partisan.”

“He said Fayose’s opposition to Buhari administration did not allow Ekiti to benefit anything from the centre.

“Assuming that was the case, it only confirmed President Muhammadu Buhari as an autocrat who must not be criticised, and not a democrat who should take criticisms in his stride.

“We make bold to say that Ekiti under Fayose and PDP has witnessed more economic and physical development in the last four years when compared to neighbouring APC-controlled states which have openly venerated President Buhari as their god-father.

“What has Ondo, Osun, Oyo, Ogun benefitted from the Federal Government? What has even Lagos, where the APC national leader comes from, benefitted?


“In terms of peace and security, Ekiti under Fayose was peaceful; it was secured from herdsmen attacks, assassinations, and armed robbery opreations. These and politically-motivated killings have returned in full swing under Fayemi/APC.”

https://www.akelicious.net/2018/10/fayose-lambasts-bishop-who-said-he.html

A group, Association of Non Violent Youths in the Niger Delta, has congratulated the Minister of State for Petroleum, Ibe Kachikwu, on his recent multiple honours in the United States.

Mr George Okitikpi, the Vice President of the peace advocacy group, gave the commendation in an interview with the News Agency of Nigeria (NAN) in Asaba on Monday.

NAN recalls that Kachikwu was on Thursday last week conferred with an honorary citizenship of the State of Georgia in the United States.

He was also conferred with honorary doctorate degree by the Trinity International University of Ambassadors, and Keys to the State of South Carolina and City of Stonecrest, State of Georgia.

The event, which held at the Capitol Hill of the state in Atlanta, also featured the declaration of Oct. 25 as `Emmanuel Kachikwu Day’ by the State of South Carolina.
Okitikpi said that the recent laurel and honorary citizenship awarded to the minister of state for petroleum were well deserved and had proved his critics wrong.
He noted that the multiple honours were clear evidence that groups behind some “campaigns of calumny” against him were just out to blackmailhim.
The minister of state was recently reported to have claimed that he bagged a first class degree in Law from the University of Nigeria, Nsukka, but he said he never made such a claim.
”Indeed the world is now a global village such that what Kachikwu is doing is seen by all.
“These feats buttress our initial claim that the man is an exceptional fellow, a quintessential scholar, a doyen in his field.
“This is the calibre of person an infinitesimal few want to blackmail. He is an upright man that commands enormous respect from people.
“We urge those behind this evil orchestration against Kachikwu to have a rethink,” he said.
Okitikpi said the Association of Non Violent Youths in the Niger Delta was committed to ensuring peace, unity and economic growth in the region and the country.

https://www.akelicious.net/2018/10/niger-delta-youth-group-commends.html

Experts and stakeholders in the financial sector have restated their calls on government at various levels, to take advantage of the multiple benefits inherent in the nation’s capital market to facilitate their respective infrastructure projects.

Reiterating the market’s capacity, the stakeholders warned that in an era of fiscal constraints, attention must focus on capital markets to provide the funds needed to finance energy, transportation and social infrastructure projects, beside the budget financing.

According to them, the nation’s infrastructure needs are too massive to be dependent on the meager yearly budgetary allocation.


They reemphasised that government must now prioritise the market as the most reliable medium to finance critical infrastructure, which already, is severally identified as the most challenging factor in doing business in the country.
Specifically, the Group Managing Director of Meristem Securities Limited, Sulaiman Adedokun, argued that the market has huge potentials, challenging the government to explore the potentials in the market.
“The market has huge potential. We are in a developing economy and there is huge gap to be filled.
The gap is so huge that the market will remain so much untapped in some areas.
”The capital market needs to be deepened more than this to provide an opportunity for growth in the economy. It is a barometer of growth and development in the economy. When the capital market is down, people believe the economy is down and this provides an opportunity for the government to grow the economy.
“The connection between the monetary sector and real sector is the capital market. No economy grows without the real sector and the real sector cannot grow without funds.
The funding of the real sector can better come from a long-term fund, that is, from the capital market.
“Funds can be raised from the capital market to fund various infrastructure projects in the country from a state of deficiency to a state of sufficiency. There is a lot to be done by the government in exploring the potentials of the capital.”

An independent investor, Amaechi Egbo, said infrastructure deficit has been estimated to cut about two percentage points from Nigeria’s Gross Domestic Product (GDP) yearly.
He pointed out that the capital market provides variety of financing instruments and investor categories, which could lead to larger pool of funds than other financing options.
According to him, capital markets can offer better pricing and longer maturities, as well as access to a wider investor base.
They can also offer funding for riskier activities, and by doing so, contribute significantly to innovation in an economy.
He added that the capital market is a critical pillar to long-term fund mobilisation needed for capital formation to fast-track economic growth and development in the country.

He maintained that the capital market is the market for securities, where companies and governments can raise long term funds, noting the main function of the capital market is to channel investments from the investors who have surplus funds to the investors who have deficit funds.
The President, Association of Stockbroking Houses of Nigeria, Patrick Ezeagu, also highlighted the capital market’s role in supporting the mobilisation and deployment of resources to fund infrastructure in Nigeria.
According to him, infrastructure deficit remains a major challenge to Nigeria’s efforts to achieve its full development potential.
He maintained that the nation’s capital market has the potential to fill the gap in infrastructure investment given the limited resources of government and banks.
Admitting that there is no single solution to Nigeria’s infrastructure needs, he noted that the most effective approach lies in mobilising funds that would finance critical infrastructure development through the instrumentality of the capital market.

https://www.akelicious.net/2018/10/nigerias-capital-market-can-finance.html

President Muhammadu Buhari’s government inherited $63 billion debt and has borrowed $10 billion since 2015.

Vice President Yemi Osinbajo said that the nation’s debt now stood at $73 billion.

He made the disclosure in Ibadan on Saturday during the 9th Public Lecture of Sigma Club at the International Conference Centre, University of Ibadan.

The News Agency of Nigeria(NAN) reports that Osinbajo delivered a lecture entitled ‘Developing the Nation Through Youth Empowerment.’

“In 2010 our debt was $35 billion, $41 billion in 2011, $48 billion in 2012, $64 billion in 2013, $67.7 billion in 2014, $63.8 billion in 2015, $57.8 billion in 2016, $70 billion in 2017 and $73 billion in 2018.

“The nation’s debt as at today was $73 bilłion, an increment of $10 billion from the $63 billion inherited in 2015,” he said.

Osinbajo revealed that from oil, the nation earned $119.8 billion from 1990 to 1998, $481 billion from 1999 to 2009 and $381 billion from 2010 to 2014, while present administration has only earned $112 billion from June 2015.

“The earnings from oil from 2010 to 2014 were the highest recorded in the history of the country. This is a period when the price of oil per barrel sold from $100 to $114.

He said that the most important drain on the nation’s public purse was grand corruption, saying the nation would earn more revenue if such was addressed.

“In a 2015 transaction met by this administration, a sum of $67 million was made without a purpose for it. So also is another $292 million,” he said.

The Vice President also listed lack of commitment to diversification of the economy as one of the problems which affected the economy.

On restructuring, Osinbajo said that some of those clamouring for it were those who opposed their efforts on restructuring years back when they were in government.

“Let me explain my position clearly. I am not just an advocate of restructuring, there is no other government in Nigeria that has actively pursued restructuring such as we did when I was Attorney General in Lagos State.

“People talking about restructuring, if you ask them what they meant by restructuring? They won’t even know what it means and that is the problem we have to face,” he said.

The vice president narrated how he pursued issues of restructuring to the Supreme Court when he was the Attorney General in Lagos State.

According to him, “We started with fiscal restructuring, which is more of resource control. Should states control their own resources? We went to the Supreme Court. They argued that each state should control its own resources.”

“The states that argued in favour of autonomy for states to control their resources were the oil producing states in the country and Lagos State, while some others argued on the other side because they want to share oil money.

“We lost at the Supreme Court. The Supreme Court said no, that you cannot control your resources. If you are an oil producing state, take 13 per cent extra, which is derivation.”

He said that Lagos State further argued that it had ports and the ports served the entire nation, so the state should also take 13 per cent derivation which the Supreme Court objected.

Osinbajo said that further argument led to the introduction of onshore and offshore law, which enabled the state to share from onshore resources.

“All this time, this was 2000, some of those people, including the presidential candidate of PDP, who is talking about restructuring, was the vice president then.

“They opposed every step we took. Of course, we were taking the Federal Government to court then. They opposed every step.

“The next thing we did was that the states should be able to create their own local governments, which is autonomy of states.

“So, we created 37 new local governments in Lagos. The president then, Chief Obasanjo, seized our local government funds and said we could not create new local governments,” he said.

He also narrated how they challenged the seizure at the Supreme Court and the court ruled in their favour.

“If you ask those people now talking about restructuring, none of them has done anything compared to what we have done. So, I am not a latter day convert to restructuring.

“I am an active practitioner of restructuring, and I have gone to the Supreme Court 12 times to test restructuring,” Osinbajo added.

https://www.akelicious.net/2018/10/buhari-inherits-63b-debt-borrows-10b.html

Senator Ovie Omo-Agege, representing Delta Central Senatorial District, yesterday, declared that nobody would remove Comrade Adams Oshiomhole as National Chairman of All Progressives Congress, APC. Besides, he stated that Oshiomhole enjoys the support of President Muhammadu Buhari and power brokers in the Presidency. In addition, he said a reconciliation committee comprising leaders of the party would soon commence peace building efforts with aggrieved aspirants.

However, a former presidential aspirant, Alhaji Mumakai Unagha, who spoke to journalists, confirmed the search for another person from the South-South geopolitical zone.

He said: “Following the clarion call on Adams Oshomhole to resign, we, APC stakeholders, in the South-South have commenced the search for his replacement. “Oshiomhole is no longer a saleable leader. He is a bad product. “We are working within the time frame to come out with an acceptable and mature candidate who would salvage the party. “We call on the national chairman to respect the wishes of the people by resigning since the clarion call is also a no-confidence vote on him.” “We also call on President Muhammadu Buhari to save the situation by prevailing on the party chairman to resign.’’

https://www.akelicious.net/2018/10/well-stop-moves-to-remove-oshiomhole.html