₦airaland Forum

NSE TRADING RESUMES ON NEGATIVE TREND, INDEX DROPS BY 0.31%
source: http://www.eyesoflagos.com/2017/11/nse-trading-resumes-on-negative-trend.html

Activities reopened on the Nigerian Stock Exchange (NSE) on Monday on a negative trend, with the All-Share Index shedding 0.31 per cent.
The News Agency of Nigeria (NAN) reports that the index lost 115.13 points or 0.31 per cent to close at 37,250.78 against 37,365.91 achieved on Friday.
Also, the market capitalisation which opened at N13.009 trillion shed N37 billion or 0.28 per cent to close at N12.972 trillion, amid price losses.
Mobil Oil topped the laggards’ table with a loss of N2.10 to close at N167.90 per share.
Guinness trailed with a loss of N2 to close at N100, while Stanbic IBTC lost N1.99 to close at N40 per share.
Flour Mills shed N1 to close at N34, while Unilever was down by 86k too close at N40.40 per share.
Conversely, Nigerian Breweries recorded the highest price gain to lead the gainers’ chart, appreciating by N1.10 to close at N131.17 per share.
Forte Oil came second with a gain of N1 to close at N41, while PZ Industries appreciated by 87k to close at N23.87 per share.
Dangote Sugar increased by 57k to close at N17.81, while National Salt grew by 50k to close at N15.60 per share.
NAN reports that Wapic Insurance was most active in volume terms, trading 650.54 million shares worth N325.27 million.
Tantalisers followed with an account of 43.81 million shares worth N21.91 million, while Fidelity Bank sold 31.87 million valued at N54.25 million.
Zenith Bank accounted for 25.60 million shares worth N636.67 million and Transcorp traded 19.90 million shares worth N26.16 million. (NAN)

NJC PANEL MEETS EFCC, ICPC OVER LOOTERS’ TRIAL
source : http://www.eyesoflagos.com/2017/11/njc-panel-meets-efcc-icpc-over-looters.html

In furtherance of its mandate, the National Judicial Council (NJC) committee on monitoring of alleged corruption cases before the court has resolved to actively engage prosecutorial bodies like the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
The committee known as Corruption Financial Crimes Cases Trials Monitoring Committee (COTRIMCO) has also received 2,306 ongoing alleged corruption cases that are now receiving attention from the four sub-committees it had been divided into.
The sub-committees are Practice Directions, Training, Feedback as well as Engagement and Awareness; they were constituted at the meeting of the anti-graft panel, under the leadership of the chairman, Justice Suleiman Galadima (rtd).
Eyes Of Lagos gathered that,A statement issued yesterday by the office of the director of Information in the NJC, Mr. Soji Oye, noted that the committee has also divided the country into three zones for ease of monitoring and evaluation of the said cases.
The zones are Zone A, Abuja FCT; Zone B, Northern Zone and Zone C, Southern Zone.
According to the NJC, Chief Judges of state divisions who were yet to submit the list of the alleged corruption cases to the committee are also being reminded to do so without delay.
Accordingly, the committee directed its secretary, Gambo Saleh, who is also the Council’s secretary, to write the defaulting CJs.
At the last count, Zone A in Abuja has 554 pending alleged cases, Zone B 347 cases, while Zone C has 1, 405 cases.
The committee, after brainstorming on all the pending alleged corruption and financial crime cases submitted to it by the Heads of Court that had complied, also indicated that a new practice direction would be issued to Judges handling the said cases.
The Chief Justice of Nigeria, Justice Walter Onnoghen, had directed the heads of court to designate courts and Judges that will solely handle the on-going trials on daily basis to fast-track all the pending alleged corruption cases.
The practice directions sub-committee has commenced a review of various practice directions by leveraging on both local and foreign comparative jurisdictions to meet global best practice.
The committee said it is imperative that other critical stakeholders buy into the mission of the body, even as it directing that regular updates and advocacy postings on sub-committees’ activities must be a permanent feature of the project.
No date has been fixed for the planned interface with the anti-corruption bodies.

NASS, EXECUTIVE NOT RIVALS – DOGARA
source : http://www.eyesoflagos.com/2017/11/nass-executive-not-rivals-dogara.html

Speaker of the House of Representatives, Yakubu Dogara, has stated that contrary to beliefs in some quarters, the legislature and the executive are not rivals but partners in progress.
Eyes Of Lagos gathered that, Dogara stated this yesterday in Abuja, when he received the new Secretary to the Government of the Federation (SGF) Mr. Boss Mustapha, in his office.
He described the appointment of Mr. Mustapha as “a round peg in a round hole, or a square peg in a square hole”, and stated that the president “hit the nail on the head.”
‎Dogara who lauded Mustapha’s visit to the National Assembly, said the visit by the new SGF is unprecedented in the history of the parliament.
He noted, “It’s never been done. In those days it was invitations extended to them, then a discussion whether they’ll appear at all would ensue. In some cases, some members of the executive would go to court on the basis of legislative summons.
“That is because powers of every sort usually led to abuses. So the rule that people always use to guard was that: ‘power corrupts, and absolute power corrupts absolutely’. And that is why we have the three departments of government, the legislature, the executive and the judiciary, all of us doing the work of democracy. So it was an idea of the founding fathers of democracy that it would take some kind of cooperation and consensus among the different arms of government for us to make progress as a people.”
He assured of the desire of the legislature to work with the executive in order to deliver the goods for the people.
He said, “As a matter of fact for us, there really is no distinction in government; it’s just ignorant people who tend to make these distinctions. If the executive fails, there’s no way the legislature would be exonerated, we are all guilty.”

PIRACY: FOREIGN SHIPPING FIRMS PAY N14BN TO ESCORT VESSELS IN NIGERIA
source : http://www.eyesoflagos.com/2017/11/piracy-foreign-shipping-firms-pay-n14bn.html

Due to the volatile nature of Nigeria waterways, foreign shipping companies spend over N13.76 billion ($45 million) annually to escort their vessels from one point to another on Nigeria’s waterways
About four major international shipping companies operate in the country including Maersk Line, Mediterranean Shipping Company, Grimaldi and CMA/CGM in addition to smaller foreign and local shipping companies operating on the waterways.
This is coming against the backdrop of report by the United States of America (USA), through its maritime administration which published the latest Maritime alert red flagging Nigeria waterways over serial pirate attacks on Nigerian waters and warning ships to be weary when approaching.
Recall that there have been series of attack on vessels in Nigeria waters especially in the Gulf of Guinea. For instance, two incidents have been reported in the Gulf of Guinea in the past six days; the first reportedly occurred south of Port Harcourt, Nigeria at 0600 GMT on October 21, 2017. The second reportedly occurred in the vicinity of 03-35.50N 006-49.20E nautical miles at 1905 GMT on October 25, 2017.
Speaking in Lagos early this week at the celebration of World Maritime Day tagged: “Connecting Ships, Ports and People,” the minister of transportation, Rotimi Amaechi, disclosed that shipping giant, Maersk Line told him they spent between $15 to $18million (at prevailing rate of N365/$) yearly to escort their vessels.
“Currently, Maersk Line told me they spend between $15 million and $18 million annually to those escorting their vessels from one point to another on our waterways.” But, the minister said all attacks on the nation’s waterways will subside as the federal government has contracted an Israeli firm to monitor and secure Nigerian coastal waters against maritime crimes.
Amaechi said, “We should be able to deflate that by next year so that people can do their businesses on our waterways without any fear of being attacked or harassed. One of the burning issues in the maritime sector is security. The federal government has contacted an Israeli firm who is going to train our security men. They will buy equipment and dominate Nigeria’s waterways for the next three years.
“Within that three years, the Israeli firm will train our security operatives for them to take over after the expiration of the contract. They are yet to launch because they are still buying the equipment. When you see the equipment on the waterways, people will know they are safe and secured.
“Mr. President has kindly approved that, and that is being done through the Nigerian Maritime Administration and Safety Agency (NIMASA). In that three years, they will train our Navy, our Army and our Police so that we can stop spending money escorting boats and vessels on our waterways.”
However, the United States of America has raised red flag over serial pirate attacks on Nigeria waters. According to the US Maritime Administration, the two recent incidences of pirate attacks in the Niger -Delta region of Nigeria was a confirmation of escalating insecurity around and on the waters of Nigeria.
The report made reference to the attacks which occurred on October 21 and October 25, 2017 respectively. “The nature of the first incident was piracy and kidnapping; the nature of the second incident was piracy, ” the report noted.
Quoting the latest quarterly report from the International Maritime Bureau (IMB), the US Maritime Administration stated that “the latest quarterly report from the International Maritime Bureau notes that a total of 20 reports of attacks against all vessel types were received for Nigeria, 16 of which occurred off the coast of Brass, Bonny and Bayelsa, it added.
Recalling more chilling incidences, the report added that “guns were reportedly used in 18 of the incidents and vessels were underway in 17 of 20 reports. Furthermore, 39 of the 49 crew members’ kidnappings globally occurred off Nigerian waters in seven separate incidents.
“Other crew kidnappings in 2017 have been reported 60 nautical miles off the coast of Nigeria In general, all waters in and off Nigeria remain risky, despite intervention in some cases by the Nigerian Navy.
“We advise vessels to be vigilant, it concluded. The US advisory report to ship masters and owners further warned that ship transiting Nigerian waters to be cautious and seek further information, even as it stated that the alert subsists until November 2, 2017.
“Exercise caution when transiting this area. Additional information on threats and maritime security resources in the Gulf of Guinea are available in U.S. Maritime Advisory 2015-2017. This alert will automatically expire on November 2, 2017,” the statement warned.
Eyes Of Lagos recalls that, in one of the attacks referred to by the US, six crew members, including the captain were kidnapped from a Liberian-flagged container ship named Demeter while the ship was sailing some 50 nautical miles south-west of Bonny, Nigeria.

INVESTORS GAIN N3.4TRN FROM STOCK MARKET IN 10 MONTHS
source : http://www.eyesoflagos.com/2017/11/investors-gain-n34trn-from-stock-market.html

Equities trading activities on the floor of the Nigerian Stock Exchange (NSE) finished the 10 months of the year on the positive trajectory with a record of N3.448 trillion.
Also, investors gained N44 billion from their investments in stocks for the month of October. Market players, while being optimistic, have described the market performance as impressive, given that the year commenced on the negative record of 2016.
It will be recalled that the market initially ran bearish at the beginning of the year before the bulls eventually dominated activities on the nation’s bourse toward the beginning of second quarter.
While activities in first quarter ended negative with a loss of 5.05 per cent, investors’ confidence returned in second quarter to close with a gain of 29.79 per cent, while the third quarter recorded a return on equities of 7.01 per cent.
Analysts have ascribed the growth recorded within the period to factors such as the initiatives taken by the Central Bank of Nigeria (CBN) to solve the problem of chronic scarcity of foreign exchange (forex).
Trading activities from January to October revealed that the All- Share Index gained 9,805.67 basis points or 36.49 per cent to close at 36,680.29 index points on October 31, 2017 as against 26,874.62 at which it opened for the year. Similarly, market capitalisation of equities appreciated by N3.448 trillion to close at N12.695 trillion compared to N9.247 trillion.
Reviewing the year-to-date as at October 31, of sectoral indices showed that except for NSE Oil and Gas and NSE Alternative Securities Market (ASeM), all other indices closed positive.
NSE Banking lead with a gain of 69 per cent, NSE 30 followed with a gain of 40.19 per cent, NSE Consumer Goods appreciated by 28.92 per cent, while NSE Industrial Goods up by 27.16 per cent.
NSE Lotus II, and NSE Insurance rose by 25.07 per cent and 10.10 per cent respectively. On the other hand, NSE Oil and Gas declined by 8.80 per cent, while NSE-ASeM depreciated by 2.29 per cent.
Capital market analysts attributed the impressive performance to better-than-expected quarterly earnings, the establishment of the I&E FX Window was most significant for the equities market, as it addressed the concerns of foreign portfolio investors around the country’s currency outlook and the report of Pension Commission approved the implementation of the multi-fund structure, having the potential to significantly increase local pension funds’ exposure to equities by Pension Funds Administrators (PFAs) for RSA funds, contributed immensely to equities rally.
On the macro front, they noted that the signals of an improving macro economy with Nigeria’s exit from recession with its second quarter GDP growth of 0.55 per cent after five consecutive quarters of being negative.
According to the report gathered by Eyes Of Lagos, Speaking on the stock market performance, the managing director of HighCap Securities Funds Limited, Mr. David Adnori said, “The market has been stable since it recovered from the negative position to positive position from April and it is been on the positive terrain from that point till date.”
He noted that volatility in the market is not very severe, saying that “This indicate that stability is coming to the market and with the impressive nature of most of the third quarter results for example Nestle declaring an interim dividend of N15, this tells us the fundamentals of the market are getting stronger in such a manner that the forecast analysts have predicted, the All-Share Index can hit 40,000 points at the end of the year may still come to pass.”
The chief operating officer of InvestData Limited, Mr. Ambrose Omordion said “As some companies posted positively surprising earnings that offered insights into the transformation activities going within these companies. These, more or less, also reflected the fact of the larger economy coming farther out of the woods, just as they confirm that the economic fundamentals being portrayed are not just on paper, but real, particularly the Nigeria’s exit from recession with its Q2 GDP growth of 0.55 per cent after five consecutive quarters of being negative.
He pointed out that the CBN reviewed foreign exchange policy which led to intervention and creation of new products has beat expectations in different quarters as the impact of the Investors and exporters window of the forex market continued to reflect on every facet of the economy to drive the recovery in the system.
He added that the continued positive macro-economic data are evidence of growing national output which the recent corporate earnings are also confirming, giving insight of what the Purchasing Managers’ Index (PMI) for the month of October and Q3 GDP will look like, besides confirming the true state of the economy.
Omordion advised that investors should allow numbers to guide their decisions while repositioning for the rest of the year trading activities, especially now that prices of stocks are moving up and down amidst improving company, economic and market fundamentals.
According to him, it is time to combine fundamentals and technical tools to take decision by knowing the support and resistant level to reposition or exit any position. Market is in phases know the cycles in order to manage your trading and investing risk.
The managing director of Dependable Securities Limited, Chinenye Anyanwu said that the stock market has performed impressive, saying that the following factors may drive performance further, the stability in the macroeconomic environment, strong end year results from quoted companies, improved sentiments towards the Nigerian economy, the sustained liquidity in the foreign exchange market, and any unexpected possible change in the MPC policy decision.

JUSTICE GALADIMA REPLACES SALAMI AS C’TTEE CHAIR - LOOTERS’ TRIAL
source : http://www.eyesoflagos.com/2017/10/justice-galadima-replaces-salami-as.html

The National Judicial Council (NJC) has picked a retired Justice of the Supreme Court, Justice Suleiman Galadima, as the new chairman of the Corruption and Financial Crime Cases Trial Monitoring Committee (COTRIMCO).
He is to replace Justice Ayo Salami (retired), who excused himself from the committee as the chairman, after initially accepting to serve.
Eyes Of Lagos gathered that, According to a statement from the NJC, signed by Mr Soji Oye, acting director in charge of Information, the committee will be inaugurated on Wednesday, November 1st, 2017 by the Chief Justice of Nigeria (CJN), Justice Walter Nkanu Onnoghen.
Justice Galadima, was born October 1946 in Nasarawa State.
He attended Government College Keffi where he obtained the West African School
Certificate in 1965 before he proceeded to Ahmadu Bello University where he obtained a bachelor’s degree in Law in 1977 and was called to the Bar after he graduated from the Nigerian Law School in 1978.
He later received a master’s degree in Law from the University of Jos in 1985.
He joined the Anambra State Judiciary as Magistrate on July 1988 and in 1990, he was appointed as Attorney General and the Commissioner for Justice, Plateau State. On May 1991, he became the High Court Judge of Plateau State.
At the creation of Nasarawa State in 1996, he was appointed as its pioneer Chief Judge of the state.
On December 9, 1998, he was appointed to the Court of Appeal and on August 2010, he was appointed to the Supreme Court of Nigeria.
He retired on October 10, 2016, at the mandatory retirement age of 70 years. Hon. Justice Galadima is famous for his leading judgement in Shina
Oketaolegun Vs. State, SC. 334A/2012, wherein he held that the Court of Appeal correctly reviewed the evidence led by both the prosecution and the defence in which he agreed that the evidence of one credible witness can justify conviction.

HOW TOBACCO FIRMS VIOLATES TEENAGE AND REGULATIONS IN NIGERIA
source : http://www.eyesoflagos.com/2017/10/how-tobacco-firms-violates-teenage-ad.html

A new Nigeria research data has revealed how big tobacco companies violet legal framework which provides against advertising to young and vulnerable children.
The Nigerian Tobacco Control Research Group (NTCRG) and the Environmental Rights Action/Friends of the Earth (ERA/FoEN), in collaboration with the African Tobacco Control Alliance (ATCA) at the public presentation of the study in Abuja said that the research shows how tobacco companies strategically situate tobacco products and advertisements near primary and secondary schools with the aim of enticing kids to experiment smoking.
The research work titled- “Big Tobacco: Tiny Targets Nigeria Report” exposes widespread sale of tobacco products along paths of primary and secondary schools in five states where there was also deliberate display of tobacco products next to sweets and drinks, making them easily accessible, and sales of single tobacco sticks at very affordable rates, among other tactics of getting children to smoke and ultimately addicted.
Specific examples from Lagos, Nasarawa, Enugu, Kaduna and Oyo are documented in the report, including visual evidences.
Eyes Of Lagos gathered that, The report urges government to take action and made some specific recommendations including the need for urgent passage of the regulations guiding implementation of the National Tobacco Control (NTC) Act 2015 by the National Assembly; and Proactive prohibition of placement of tobacco products within 100m of any educational institution by the federal, state and local education authorities.
It demanded the enforcement of the comprehensive prohibition of Tobacco Advertising Promotion and Sponsorship (TAPS) and the setting up of a Framework for monitoring the implementation of the ban on single sticks and cigarettes packs with less than 20 sticks as detailed in the NTC Act 2015

FAAC: FED GOVT, STATES, LOCAL GOVTS SHARE N558BN IN OCTOBER
source : http://www.eyesoflagos.com/2017/10/faac-fed-govt-states-local-govts-share.html

Mr Ahmed Idris, Accountant-General of the Federation, said the Federal Government, States and Local Governments shared N558.082 billion in October compared to N637.704 shared in the previous month.
Idris made this known at the end of the monthly Federal Accounts Allocation Committee (FAAC) meeting on Tuesday in Abuja.
Eyes Of Lagos report that, According to him, the sum is inclusive of Value Added Tax (VAT).
He said that the sum indicated a decrease in the revenue shared by the three-tiers of government of N130.428billion for October.
He said the total amount shared include N423.961 billion from the Statutory Account, which is lower than the N550.992 recieved in the previous month.
He said it also comprised of N83.315 billion from Valued Added Tax (VAT) and another N50.806 billion from Forex Equalisation Account.
A breakdown of the communique read to newsmen at the end of the meeting by Idris revealed that the Federal Government received N198.054 or 52 per cent of the total money shared.
He said the states received N100.456 billion or 26.72 per cent, while Local governments got N77.447 billion, representing 20.60 per cent of the sum.
He also stated that N35.414 was shared among the oil producing states as 13 per cent derivation fund.
According to Idris, the Nigeria Customs Service (NCS) remitted N50.815, Federal Inland Revenue Service (FIRS) N211.471 and Department of Petroleum Resources (DPR) N80.362 minus cost of revenue collections.
“There is a balance of $2.309 billion in the nation’s Excess Crude Account.
“And the Petroleum Profit Tax has a balance of $68 million, according to the accountant general of the federation.
He said that during the period under review, there was a significant increase in revenue from export sales of 176.4 million dollars due to an increase in crude oil production by 4 .12million barrels.
He, however, said the average price of crude oil decreases from 50.44 dollars to 46.29 dollars per barrel.

sorry for the loss

STOP GIVING BAILOUTS TO GOVS, LABOUR TELLS PMB
source: http://www.eyesoflagos.com/2017/10/stop-giving-bailouts-to-govs-labour.html


Organised labour in the country yesterday implored President Muhammadu Buhari not to release further bailout funds to governors of the 36 states of the federation until they are made to account for the funds already released to them.
The workers under the auspices of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) also vowed to begin massive protests in states that have refused to use the bailouts funds released to them by the federal government to settle workers’ salaries.
A delegation of the Nigeria Governors’ Forum (NGF) were at the presidential villa, Abuja on Tuesday where they met with President Buhari to demand for the release of the 50 per cent balance of the Paris Club refund to states.
Chairman of the forum and Zamfara State governor, Abdulazeez Yari, told journalists after the meeting with the president that the governors came to plead with Buhari as the father of the nation to see to it that the 50 per cent balance of the Paris Club refund is paid to the states not later than next month in order to enable them factor the money into their 2018 budgets.
At the meeting with the governors, President Buhari had bitterly expressed his displeasure with the inability of some of the state governors to pay workers as well as pensioners their salaries and pensions, despite the bailouts given to them.
President of the NLC, Comrade Ayuba Wabba, who spoke to Eyes Of Lagos on the development yesterday, said the president has shown clearly that he understands the plights of the workers.
In a telephone chat with our correspondent, Wabba said, “We understand that their going to the president was to ask for further bailouts but clearly this has shown that it is not about just releasing money to them. They must first give account of what has been released to them.
“Let me give you an instance, Jigawa State did not access the bailouts and the state government does not owe salary or pension. But look at Bayelsa State; despite its 13 per cent derivation and bailouts funds released, it is still owing workers. The president must ask for proper audit of funds already released”.
He declared that the workers will fully mobilise to shutdown activities in states he accused of deliberately not taking the plights of workers seriously.
Also speaking to Eyes Of Lagos yesterday, TUC president, Bobboi Bala Kaigama, said TUC and NLC have jointly written to President Buhari, urging him to stop any further release of bailouts to governors still owing workers salaries.
He said, “The NLC and TUC have written a joint letter to President Buhari. Our request is that governors should give a proper account of the monies they have received, especially those who got the bailouts and still owe several months”.
Kaigama said the two labour centres will be taking further actions against the governors and ensure that workers get their salaries.
The TUC also commended President Buhari for voicing out his displeasure to state governors over their failure to pay salaries and pensions, despite federal government’s interventions in the state.
It took a swipe at the governors for asking for the release of 50 per cent of the Paris Club loan refund, even when some of them could not account for the tranches already released to them.
In a press statement signed by its national president, Comrade Kaigama and Secretary General, Comrade Musa-Lawal Ozigi, the Labour leaders lamented the plight of workers in the states and the need for urgent attention as many of them could barely survive.
“For us the president Muhammadu Buhari was right when he expressed surprise on how some governors manage to sleep soundly when workers have not been paid their salaries for months. The president even wondered how the workers feed their families; pay their rents and the school fees of their children”, TUC said.
Kaigama noted that the Congress believes the president asked these vital questions because he still has his conscience intact, noting that most of the country’s leaders have sold out their conscience.
His words: “They don’t feel our pains neither do their children and cronies. What is N18, 000 (Eighteen thousand naira) when juxtaposed with the prevailing economic realities in the country? It is a pity our governors prefer statues of foreigner to our health, children’s education, job creation and other meaningful activities that help build a strong a society.
“The confidence we had when this administration was coming on board has gradually waned. We believe in the president but he alone cannot do it. Efforts to fight corruption have become a mirage. Experts have argued that one way recession can be addressed is when the wage of workers is increased; unfortunately the last wage increase we had was in 2011.
“Though due for review but some forces who take delight in using our children as political thugs have refused. They want the status quo to remain- (master-servant relationship). They tell us that the economy is in recession yet it does not affect them”.
The statement made available to Eyes Of Lagos further noted: “Nigeria’s case has become that of one-day one-trouble-kind of. Only last week some ministers made case for No Work No Pay doctrine. Their argument was that they want to check the public service workers in the country.
“Just imagine: how do you tell a worker that has not been paid for six months to continue to borrow to fare himself or herself to job? How do you explain it that a country that is broke still pays twitter lawmakers over N29m on a monthly basis? This is inhuman, wicked, derogatory and devilish”.
The TUC leadership charged the federal government to hold on to the money until the workers and pensioners are fully paid, just as it accused the governors of stockpiling the released fund somewhere to be used for 2019 election campaign.
In the same vein, president of the Petroleum & Natural Gas Senior Staff Association (PENGASSAN), comrade Francis Johnson, said it is ungodly for any governor to still owe workers salaries, despite collecting bailouts from the federal government.
He said, “It is sad that while we are yet clamouring for an upward review of the minimum wage, some governors are still not paying the N18, 000 minimum wage which is nothing to write home about given the current state of our economy.
“Are the governors being owed? Is there any of their aides or commissioners that is being owed? Yet, you see them living lavish lifestyles to the detriment of the workers who voted them into office”.

TSTV DOLES OUT FREE 5000 DECODERS
source: http://www.eyesoflagos.com/2017/10/tstv-doles-out-free-5000-decoders.html

Telecom Satellite Television, TSTV over the weekend, announced plans to share free 5000 decoders as part of its first phase of commercial satellite television services in Nigeria.
Eyes Of Lagos gathered that, Making the revelation in Abuja, ​TSTV Managing Director/Chief Executive Officer​, ​Bright Echefu said the free decoders, which will serve as test run, will run for one month free ahead of the official commercial roll out on November 1.
Echefu, who said the giving out of the decoders will commence today, added that the decoders would also be installed​ for free​ ​to enable ​​them test the ​strong signal and services​ of the new pay TV.
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He explained that the delay in the commercial deployment of decoders to customers was to prevent sabotage by unscrupulous elements who would want to frustrate the company.
The TSTV, DTH pay TV, offers over 70 rich blend of local and international channels and packages for entertainment, including news, sports, kids, health.
Some of the channels include Star Sports, Fox Sports, Euro Sports News, Euro Sports 2, bein Sports MAX 4HD, bein Sports 3HD, bein Sports Global, bein Sports MAX (bein Sports 1-10)
TS Sports 4 HD, TS Sports 2, TS Sports 3‎ and Yolo Sports HD
Others are Trace Urban/Africa, HITS TV, MTV Base
TLC (HD), BBC America, CNBC, Aljazeera,Riwa Ndu TV, TS Hausa, TS Igbo, TS Yoruba, TS Sports 1 HD
BBC Radio 2, TVC News, Sky News, Arewa24, Nollywood TV among others.
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Running on 4.5G network, every subscriber will get 20G of data for N3,000 monthly. The data can also be used for video calls conferences with camera and WiFi, even as the TStv decoder has 50GB hard disk to record TV programmes and a pause/play function.
Echefu had during the signing of the multi-transponder agreement with their ABS partner, said their services would offer viewers the experience of HD and SD video, internet services, broadband, TVand radio, at a very affordable rates.
Also speaking, Head of Corporate Communications, Madu Ugo, assured Nigerians that TStv will “ensure that their yearnings about pay TV are met”.
“We are here to provide the best products and services. We urge every one to get their decoders and start enjoying sports, news, movies, documentaries, soap operas and others”.

PRESIDENT BUHARI RETURNS TO LONDON FOR UNDISCLOSED REASONS
source : http://www.eyesoflagos.com/2017/09/president-buhari-returns-to-london-for.html

President Muhammadu Buhari has returned to London for undisclosed reasons.



Buhari, who had spent 104 days in London on medical vacation this year, returned there on Thursday from the United States where he had spent five days attending the 72nd session of the United Nations General Assembly.

The Presidency had said in a statement last week that Buhari would be returning to London for a short visit.

It, however, did not disclose how long the President would be in London and the reason for his latest visit.

NSE FINES EKOCORP, 29 OTHERS N373 OVER NON-COMPLIANCE TO REGULATORY REQUIREMENTS
source : http://www.eyesoflagos.com/2017/09/nse-fines-ekocorp-29-others-n373-over.html

The Nigerian Stock Exchange (NSE) has listed Ekocorp, Thomas Wyatt and Africa Alliance Insurance Plc leading the N372.5 million fine over inability to meet the Exchange regulatory requirements.
The Exchange imposed a fine of N372.5 million on 30 listed companies for inability to file in their financial statements ranging between full year ended December 31, 2014 and second quarter ended March 31, 2017.
Eyes Of Lagos Investigation revealed that NSE fined Ekocorp, Thomas Wyatt and Africa Alliance Insurance N75.6 million, N46.8 million and N46.1 million respectively, totaling N174.4 million, which accounted for 46.8 per cent.
Also, for non-compliance on 2016 financial results, NSE sanctioned AG Leventis N2.9 million, Austin Laz N5.4 million, Capital Hotel N2.1 million, Capital Oil N 1.1 million, CWG N2.1 million, Diamond Bank N2.4 million, Fidelity Bank N 700,000, Fortis Micro Finance Bank N19.8 million, Guinea Insurance N11.6 million, Premier Paints N11.2 million, Royal Exchange N7.3 million, Standard Alliance Insurance N8.2 million and Unity Bank N500, 000.
The Exchange, in its X-Compliance report, explained that initiative was designed to maintain market integrity and protect the investors by providing compliance-related information on all listed companies.
The report stated, “Companies that are listed on the Exchange are required to adhere to high disclosure standards, which are prescribed in Appendix 111 of the Listing Rules. Financial information, which is periodic disclosure and on-going material events disclosure, should be released to the Exchange in a timely manner to enable it efficiently perform its function of maintaining an orderly market.”
The NSE in an effort to achieve a world class capital market has reiterated its commitment to maintain zero tolerance posture on dealing member firms and quoted companies on violations of rules and regulations.
This on the back of the Exchange’s determination to shift gears to drive innovations centred on increasing global visibility for the Nigerian capital market in the current year.
The chief executive officer of NSE, Mr. Oscar Onyema, said recently that the Exchange will sustain a zero-tolerance stance on dealing member firms and listed companies’ violations to help boost the confidence in the market.
Capital market operators said that late filing has the potential to adversely affect the capital market and shareholders who invested in those companies.

Is Everything Alright In Psquare’s Camp?
source: https://makesensemusic.com/everything-alright-psquares-camp/


The relationship between Peter and Paul Okoye seem to have gone sour, again. In the past, the two brothers have had their differences but they have managed to settle their issues.

Now, it seems the two brothers are revisiting a buried issue or perhaps, it is a new disagreement that is causing the reported animosity they currently have towards each other. The two brothers have been throwing subliminal and shady social media posts that seem to be directed at each other.

See pictures below.

SALLAH TRAGEDY: 19 FEARED DEAD IN EDO GHASTLY MOTOR ACCIDENT
source : http://www.eyesoflagos.com/2017/09/sallah-tragedy-19-feared-dead-in-edo.html

There was a tragedy yesterday – Sallah eve – in Edo state as 19 persons lost their lives in a ghastly road accident at Ugoneki village, along Benin-Asaba highway, in Uhunmwode Local Government Area of the State.
The Mr Samuel Odukoya, the State Sector Commander of the Federal Road Safety Corps (FRSC), who confirmed the incident to newsmen on Friday, disclosed that it occurred at about 6 pm on Thursday, when an 18-seater commercial bus, with registration number ABD 206 XA, had a head-on collision with a truck marked DRZ 347 XA, carrying goats, and heading to Benin.
The commercial bus is said to be heading to Auchi.
Sixteen of the passengers were said to have died at the spot, three others died at the hospital, while five others sustained varying degrees of injuries.
“The trip was from Benin to Auchi and the cause of the accident was attributed to dangerous overtaking. “Three females, 11 males, a female child and four male children were killed in the accident, while five men were injured and have been taken to the hospital,” the commander said.‎
A source in the area, who pleaded not to be named, also disclosed that members of a family who were travelling for the Eid-el-Kabir celebration were among the casualties.

BABATUNDE AJAYI EMERGES NEW AKARIGBO OF REMO
source : http://www.eyesoflagos.com/2017/08/babatunde-ajayi-emerges-new-akarigbo-of.html

A chartered accountant and legal practitioner, Prince Babatunde Ajayi, has been elected as the new Akarigbo of Remoland. He is 52 years old.
Ajayi emerged through an open ballot held, on Thursday, among the seven kingmakers at the Akarigbo’s Palace, Sagamu.
After casting of votes by the kingmakers which included Chief Rasak Akinyemi Salami (Lisa), Chief Abdul Wasiu Awofala (Losi), Chief Taiwo Sule (Oluwo Odofin), Chief Lamidi Olaitan Adesanya (Apena), Chief Ogunyemi Tijani Adesina (Ogbeni odi), Chief Kolawole Odumuyiwa (Balogun) and Olotu Omoba JAS Adekunle ( Olotu Omoba Akarigbo), the new Akarigbo emerged after polling five votes, with Prof. Babatunde Ogunmola, trailing him with two votes, while other 17 nominees had no vote.
The election was supervised by the Secretary to Sagamu Local Government, Adewale Fakoya, who after reeling out the names of the 19 nominees to the kingmakers, requested them to cast their votes for the candidate of their choice.
The newly elected Akarigbo is a Barrister and solicitor of the Supreme Court of Nigeria, a Chartered accountant and a Fellow of the Institute of Chartered accountants of Nigeria (ICAN).
The name of the Akarigbo-elect, it was learnt, will soon be forwarded to the government for necessary arrangement and preparation.
Meanwhile, the Ogun State Commissioner for Local and Chieftaincy Affairs, Jide Ojuko, confirmed the emergence of Ajayi as the new Akarigbo of Remoland.
Ojuko said Ajayi had five votes against two by the runner up, Prof. Babatunde Ogunmola, in an election conducted by the seven-man king makers.
He disclosed that the nomination and election process were peaceful, adding that installation date would be announced very soon.
“It is true that a candidate has been elected as the Akarigbo of Remoland. He is Prince Tunde Ajayi. I am happy the processes have been peaceful, I mean both the nomination and selection and very soon, the installation date will be announced,” Ojuko submitted.

PMB DIRECTS EMERGENCY RESPONSE TO BENUE FLOODING
source : http://www.eyesoflagos.com/2017/08/pmb-directs-emergency-response-to-benue.html

President Muhammadu Buhari has received with great concern reports of the flooding in Benue State, which, according to early estimates, has affected thousands of homes and displaced more than 100,000 persons in 12 local government areas.
Eyes Of Lagos gathered that, Consequently, the president in a statement by his spokesman,Garba Shehu has directed the National Emergency Management Agency (NEMA) to immediately mobilize personnel and resources for the victims of the flooding. The statement said the president is closely monitoring the situation, and will be receiving regular updates on the scale of the disaster, as well as the federal government’s humanitarian response.
The president extended his sympathies to the government and people of Benue State, and assures that the federal government will make available any assistance needed to enable the state government and the affected communities cope with and surmount the impact of the flooding.

NIGERIAN TROOPS KILL 82 BOKO HARAM TERRORISTS, RESCUE 468 HOSTAGES IN BORNO, YOBE

Troops of Operation Lafiya Dole have killed 82 Boko Haram terrorists and rescued 468 people during fighting patrols and clearance operations in Borno and Yobe states.


The operations, which were carried out in the last two months, led to the liberation of 630 villages and settlements, where the hostages were held by insurgents, before they were rescued and handed over to various camps for screening.

Theatre Commander, Operation Lafiya Dole, Maj.-General Ibrahim Attahiru, disclosed this to journalists in Maiduguri, yesterday. He said the operations also led to the arrests of 313 suspected terrorists in various locations and villages of Sambisa Forest and northern parts of Borno and Yobe states.

Eyes Of Lagos report that, He said: “The two months operations in the hinterlands under our Mobile Strike Force Teams, MST, were successful, as 69 Boko Haram terrorists surrendered to our troops in the front lines.

“The surrendered terrorists laid down their arms under the military’s safe corridor; and will undergo de-radicalisation, before being integrated into the society.” He called on the fleeing insurgents to continue to lay down their arms and surrender to the nearest military post, as MST had been deployed to the hinterlands, including the terrorists’ hideouts in Mandara Mountains and council areas of Abadam, Marte and Kala/Balge in Borno State.

On recovered arms and ammunition, Attahiru said: “Our troops were able to recover 17 automatic weapons and 1,471 ammunition.” He further disclosed that 31 people were killed in various suicide attacks at Molai, Dalori camps and Maiduguri metropolis, while 123 were wounded in the last two months.

Source: http://www.eyesoflagos.com/2017/08/nigerian-troops-kill-82-boko-haram.html

S’EAST GOVERNORS MEET KANU OVER IPOB DEMANDS
source : http://www.eyesoflagos.com/2017/08/seast-governors-meet-kanu-over-ipob.html

EYES OF LAGOS gathered that, Governors of the South East Geo-political Zone yesterday met with the leader of the Indigenous People of Biafra{IPOB} at government house, Enugu for several hours.
Speaking with journalists after the meeting that lasted for several hours, the Chairman of the South east governors’ Forum and Governor of Ebonyi State Governor, Dave Umahi disclosed that they deliberated on the various demands of the IPOB.
He disclosed that they would continue to meet with Kanu and other leaders of IPOB with view to finding a lasting solution to the issues.
He, however appealed to concerned people to give the South East Governors opportunity to sort out the issues amicably, assuring that they would continue to look into the issues.
It was gathered that the governors might have deliberated on the the insistence by Kanu that the forthcoming election in Anambra State will not hold until a referendum is conducted, among others.
Those who attended the meeting that lasted for several hours included Enugu State Governor, Ifeanyi Ugwuanyi, Dave Umahi of Ebonyi State, Anamabra State Deputy Governor, Nkem Okeke while two governors were said to have traveled abroad.
The governors later met with the leadership of apex Igbo Social Cultural Organization, Ohanaze Ndigbo, former Central Bank boss Chukwuma Soludo, among others.

ALLOW NIGERIANS TO EXERCISE THEIR POLITICAL LIBERTY AND RIGHTS BY ALPHONSO OLASUMBO
source : http://www.eyesoflagos.com/2017/08/allow-nigerians-to-exercise-their.html

President Buhari mocks London resume or resign protesters"says I hope they are not stuck there" (Aug 25 2017)

President Muhammadu Buhari says he hopes the protesters who came to Abuja house in London during his medical vacation are not stuck in UK.
The President returned to the country hours after the protesters held a vigil outside the place where Buhari stayed during his 103days medical vacation in the UK.
During a meeting with the the governors at the presidential villa on Friday Buhari wondered if those who are stuck there with brexit have weighed their implications with regards to ownership of properties and payment of of tax.He said if those Nigerians sell off their property in the UK,they should bring the proceeds back to Nigeria because "we need it badly here".
Quotes
"In fact, some groups in London came and Sang the national anthem and asked that I should go back home"Buhari said
"I hope who went there are not stuck there,they will come back and join us. Those that are stuck there with the bretix I hope they have weighed the implications that it won't affect them, I hope when they sell their property there,they would bring some of it here,we need it badly here"(www.cable.ng).

This is the response to the action of the London protesters as they kept vigil in front of the Abuja house in London demanding that the President resume his office or resign.
Ref.
Komaa mynofu spoke at a public comment portion held by the board of education of right ownership high in mattoson illinics. After some minutes he criticized some school officials by name.At that point,the President of the board of education ordered that mnyofu microphone be silenced and that a security guard stopped him from speaking.
Mnyofu sued the board of education and its President in federal court allerging that they violated his First Amendment free speech rights by prohibity . He contended that the board unconstitutionally restricted speech based on content
The board filed a motion to dismiss arguing that they could channel complaints of school officials to a uniform grievance procedure. The defiants also argued that the board president was entitled to qualified immunity, a doctrine that protects government officials from liabilities unless they violate clearly established law.
U S district court judge Thomas M Durkin of the Northern District said that there was a reasonable likelihood that the school board meetings are designated public forums and the restriction on Mnyofu's speech was content discrimination.
On the question of qualified immunity, the judge also ruled solidly in Mnyofu's favour " The right to criticize public officials is clearly established. "He wrote in Mnyofu vs Board of Education RichTownship High School District 227." Additionally, the right to speak at public forums of free-content based restrictions clearly established.
The First Amendment protects the right to criticize public officials. In 1931, The justice Hugo Black expressed it eloquently in Bridges vs California, when he wrote "it is a prized American privilege to speak one's mind though not always with perfect good taste in all public institutions.
I ask "Don't Nigerians have such Rights?
President Buhari's speech after his 103days leave of absence in a meeting with the governors at the presidential villa Abuja. His response to the action of the protesters in front of the Abuja house in London shoes his inflexibility , lack of a large heart and traces of military dictatorship curbed only by democracy.
There is the issue of political liberty of individuals which include the rights of individuals to vote, stand as candidate for election,equal eligibility for government office and of course the right of citizens to criticize the government.
The political liberty of individuals to criticize the government is based on the right of individual speech, publication and membership of associations. In a democratic setting, individuals are encouraged to criticize government constructively, contributing in the decision making of the country. A peaceful protest has long been identified and used as an effective tool of constructive criticism.
The preamble to the 1999 constitution unmistakeably set the tone27 by dedicating itself to promote"good government and welfare of all persons on the principles of freedom, equality and justice".
Chapter ii, chapter iv of the 1999 constitution guarantees a catalogue of enforceable fundamental human rights. The fundamental human rights guaranteed under chapter iv are essentially civil and political rights guaranteed in major international human rights instruments. The civil and political rights form the bedrock of the First generation Rights. These rights are libertarian in character as they relate to the sanctity of the individual and his rights within sociopolitical milieu in which he is located. The right to seek to protect the individual whether alone or as a group against the abuse of power especially by political authority..
Since what is involved is comparable with the Covenant in Civil and political rights 1966, it will suffice to simply enumerate these rights without amplification as follows: * the right to life * right to dignity of human person * right to personal liberty *right to fair hearing * right to private and family life * right to freedom of thought , conscience and religion * right to peaceful assembly and association *right to freedom of movement * right to freedom from discrimination and * right to acqo and own immovable property anywhere in Nigeria.

His speech in response to the protest should have shown Hus flexibility and possession of a large heart which is able to accommodate the criticism of the citizens of a very large nation with so diverse a culture.
His response should have reflected his ability to make use of the criticism of Nigerians to oil the wheels of good governance rather than sound saucy such as was featured in response at the Presidential villa
I believe that protests and criticism of government activities by individuals and groups serve as a force to propel government officials forward and keep them on their toes at all times in their bid to give to the citizens of the nation the good governance for which they are elected.
I implore the London protesters and other critics home and abroad not to be demoralized but to continue to criticize government activities constructively in order to facilitate good governance in the Nation as their protest actually yielded the desired result since the President returned to Nigeria merely hours after their vigil or should we say protest in front of Abuja house .
It is also worthy of note that the President's health is linked to that of the Nation and his presence amongst his people who gave him his mandate is not an issue to be handled with levity. This is evident in the reaction of Nigerians as they trooped out in their number to welcome the President back to the soil of our fatherland.
Kudos to the London protesters, more grease to your elbows.

You may contact ALPHONSO OLASUMBO

CONTACT :
� +2348164940200
✉ alphonsoolasumbo@gmail.com

written by © Alphonso Olasumbo, 2017.

cc: mynd44 , lalasticalala, seun

OSINBAJO COMMISSION FERTILIZER, CEMENT COY IN EDO
source : http://www.eyesoflagos.com/2017/08/osinbajo-commission-fertilizer-cement.html

According to the reports gathered by Eyes Of Lagos, It was celebration yesterday in Auchi, and Okpella both in Etsako West and Etsako East local government areas of Edo State as Vice President Yemi Osibanjo commissioned the rehabilitated Fertilizer blending plant and inaugurated the Bua’s Obu green field three million metric tonnes cement Company.
Osibanjo who noted at Auchi that the President Muhammadu Buhari’s administration is determine in taking private initiative Enterprise seriously added that government also committed in ensuring business is done with ease in Nigeria.
He said the commissioning of the fertilizer plant by the Obaseki’s led government in Edo state is in line with the federal government fertilizer initiative noting that it is capable of reviving moribund fertilizer plants
Governor Godwin Obaseki, in his remarks told the Vice President that the Auchi fertilizer plant was abandoned 14 years ago under the PDP led government noting that the plant will help in generating new jobs and boast economic activities within the locality and the State.
He said with the take off, the plant is capable of producing 5,000 direct and indirect job with 60, 000 metric tonnes of fertilizers.
Earlier, the Vice President also performed the symbolic ground breaking of the Obu second line three million metric toones per annum, pledged that the federal government would remove all human inhibitions to encourage investors.
While commending management of Bua company for the achievement, Osibanjo said “i am proud to be a Nigerian. I am also proud to be associated with this wholly Nigerian enterprise, planned and executed by a Nigerian team.
“ I am happy to say that this project is a big boast to the Nigerian economy and the opportunity it will provide for both skilled and unskilled youths of this state and the country at large,” he said.
The VP noted that the plant’s capacity output would guarantee self sufficiency of cement production for the nation, especially “when Bua group is using modern and efficient facilities with local materials.
He said the company’s achievement had demonstrated that the Nigerian economy growth plan must be private sector driven.
Osibanjo assured the private sector that the federal government would endeavor to make policies that would remove bottle necks but “will identify inhibitions and eliminate them.
Earlier, the Chairman and CEO of Bua company, Alhaji Abdulsamad Rabiu, said the vision of the company was to provide Nigerians with the best quality cement using the best technology and best hands at the most affordable price.
Some of the dignitaries who graced the occasion are the minister of Agriculture, Chief Audu Ogbeh, minister of health for state, Dr Ehinire, minister of trade and investment, Okechukwu Enelamah, Kano state governor, Abdullahi Gadunje, Emir of Kano, Alhaji Sanusi Lamido Sanusi, former Edo governor, Adams Oshiomohle and Hon. Pally Iriase.

WORLD BANK $100M PROJECT WILL STRENGTHEN LITERACY, EDUCATION IN N/E
source : http://www.eyesoflagos.com/2017/08/world-bank-100m-project-will-strengthen.html

According to the reports gathered by Eyes Of Lagos, Since 2014, the World Bank in collaboration with the DFID and USAID is embarked on a $100m literacy project in five states in north-east Nigeria to support the Nigerian government in returning out-of-school children to the classrooms.
This is part of its efforts to changing education narrative in the country from simply getting children back to school to providing resources and materials required to keep them in school, to ensure they learn and add value to the society.
Selected states include are Kano, Kaduna, Katsina, Jigawa and Sokoto.
World Bank Representative in Nigeria, Adetunde Adekola, said, “It is not enough to just bring children to school or for them to stay-in-school, but it is also Important that they learn. Literacy begins early in life. Before a child enrolls into a school, he/she already speaks, what they cannot do upon starting school is read and write what they are saying. That is the function of the school. The importance of literacy, at this point, is to help the child, no matter the language they speak, to be able to write and read it. Once, a child is able to do this, very early in life, he/she can add value to themselves and the society.”
The global bank will further develop an education and information data system to better manage, plan for and sustain quality and inclusive educative. Adekola said the lack of data on school enrollment in any academic year, affects planning and availability of resources which invariably affects learning and literacy amongst students.
“The World Bank is interested in strengthening the system to better educate our children, and part of the system is strengthening literacy such that it can add value to our society.”
“We need action to strengthen the literacy systems, policies, structures designed for the achievement of sustainable development goals, and to provide holistic approaches for improving inclusive and quality education. The speed of global technology and economic transformation requires an urgent action to sustain literacy, and ensure literacy and digital opportunities for all.
“The capacity of countries to adopt, disseminate technology practices depend on improved system of mass education, improved literacy education and an effective national information system,” projected Adekola.
With two years completed of the 4 years slated period for the project, Adekola says the project has been successful. Moreover, the bank will embark on an evaluative study of the impacts/success of the intervention.

WIKE, A COMEDIAN, WORST RIVERS GOVERNOR – APC
source : http://www.eyesoflagos.com/2017/08/wike-comedian-worst-rivers-governor-apc.html

The Rivers State Chapter of the All Progressives Congress, APC, has declared Rivers state Nyesom Wike as the worst Governor in the history of the State.

This is just as it dismissed his excuse for poor performance as untenable.

Governor Wike had recently blamed the current economic recession in the country for his administration’s failure to live up to expectation and the INEC and Police for the misfortunes of PDP in the elections of the state.

Meanwhile, the APC in a statement signed by its State Chairman, Chief Davies Ibiamu Ikanya said Wike was the main cause of the misfortune of the PDP in Rivers state.

Ikanya in the statement said Governor Wike does not understand the dynamics of development.

The statement reads, “Wike blaming the Police and INEC for PDP’s current misfortune in Rivers State and loss of most of her National and State Assembly members in the Appeal Court as not only unfortunate but a calculated attempt to excuse himself as the main culprit for PDP’s misfortune in the State.

The Party also described Wike’s excuse for his failure to develop the State as unfortunate, sad and unacceptable because many other states have been recording great achievements despite also experiencing economic recession.
“A few examples would suffice: Governor Atiku Baguda of Kebbi has achieved stable power supply in 16 LGAs and also established the Rice Pyramid (Lake Rice) in partnership with Lagos. Governor Akinwunmi Ambode of Lagos s set to launch 5,000 new buses in Lagos, in addition to numerous other feats.
“On his part, Governor Ben Ayade of Cross River can boast of setting up the biggest Garment Factory in Africa, the Rice City Project and Calabar Monorail, while Governor Udom Emmanuel of Akwa Ibom has set up the First Pencil Factory in Nigeria, Led Factory and Automobile Assembly Plant.
“Instead of emulating these great leaders, our noisy and unprepared Governor Wike is celebrating the construction of Motor Park, Pleasure Park, Market, and Ecumenical Center. These were some of the projects which he wanted a whole Acting President Yemi Osinbajo to commission for him.”
“The whole world can now better understand why Wike has turned the Garden City into the Garbage City. We can now understand why Wike has turned our once peaceful State to Rivers of Blood where killing and beheading of innocent people is now the order of the day.
“We can now understand why Wike decided to use our funds to fund his dying party, PDP, instead of paying the salaries of our civil servants and pensioners. We can now understand why Wike has decided to destroy our educational system that Amaechi put on a sound footing. Wike has stopped the scholarship scheme initiated by Amaechi to ensure that no Rivers child is left uneducated.
“He has stopped the use of over 350 model schools constructed by Amaechi’s Administration so that he can embark upon the construction of his 175 non-existent schools to enable him siphon public funds.
“Because Wike has nothing to offer, he has destroyed the Banana Plantation, The Buguma Fish Industry, the Songhai Agriculture revolution and other industries set up by Amaechi to generate funds for the State and provide employment for our teeming undergraduates.
“Wike has only succeeded to turn himself into Mr. Disaster, which he has deservedly earned as the worst Governor in the annals of Rivers State. His stand contradicts the position of Dr. Dakuku Peterside, the APC candidate for the 2015 governorship election, who has a well-documented blueprint which he tagged ‘Road To Prosperity’. This roadmap by this visionary would have made Rivers State one of the most developed states in Nigeria by now.
“Wike is a man bereft of ideas and we hold former President, Dr. Goodluck Jonathan, and others who imposed this incompetent man on our once flourishing State responsible for the shocking reversal of development in our beloved State.”

PMB, ADEOSUN, EMEFIELE MEET OVER ECONOMY, BUDGET PERFORMANCE
source : http://www.eyesoflagos.com/2017/08/pmb-adeosun-emefiele-meet-over-economy.html

President Muhammadu Buhari yesterday met with the Minister of Finance, Mrs Kemi Adeosun, her Budget and National Planning counterpart, Senator Udoma Udo Udoma and governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, to deliberate on the state of the nation’s economy.
EYES OF LAGOS learnt that, At the meeting which lasted almost two hours, the ministers and CBN governor briefed the president on the improving state of the economy, implementation of the 2017 budget, preparation for the 2018 budget, revenue strategies, combined cost reduction and debt management.
A statement by the special adviser to the president on media and publicity, Femi Adesina, noted that President Buhari declared that he was pleased with the progress being made on different fronts of the economy.
The presidential spokesman said, “Also discussed were monetary policy strategies and their economic impact, among others.
“President Buhari, while reminding the Ministers and CBN Governor that reviving the economy was one of the major planks on which the campaign of his party, the All Progressives Congress (APC), was based, expressed gladness that things were looking up after two years of yeoman’s job”
“Urging them to keep at it, the president noted that the main aim of government was to bring succour to Nigerians across all walks of life”.
President Buhari was away in the United Kingdom for medical treatment when then Vice President Yemi Osinbajo who was acting president signed the 2017 appropriation bill into law on June 12, 2017. The total budget figure signed is put at N 7.44 trillion.
The National Assembly had passed the 2017 Appropriations Bill on May 10 after increasing the N7.28 trillion earlier proposed by Buhari in December last year to N7.44 trillion.
When contacted yesterday to provide details of how much has been released from the 2017 budget so far, director in the ministry of finance, Salisu Na’Inna Dambatta said he doesn’t have such record.
“Come to our office tomorrow so that we can both work on it”, he simply said.

WE ARE WORKING WITH US GOVT ON REPATRIATION OF LOOTED FUNDS – OSINBAJO
source : http://www.eyesoflagos.com/2017/08/we-are-working-with-us-govt-on.html

The Buhari administration has reached out to the US government to step up its assistance in ensuring that corrupt officials don’t get a safe haven abroad for their loot, according to Vice President Yemi Osinbajo.
In a statement by his spokesman, Laolu Akande, the Vice President, who made the call yesterday during the visit of a US Congressional Delegation to the Presidential Villa, said both countries were working on a prompt repatriation of the funds.
Eyes Of Lagos gathered, According to Prof. Osinbajo, “we have reached out to the US government with respect with helping with repatriation of proceeds of crime and proceeds of corruption.’’
Prof. Osinbajo, who was appreciative of the support given by the US so far said the Buhari administration regarded “corruption is an existential threat’’ that must be dealt with at its root.
“We have worked quite closely with the US government on repatriation of funds, we have seen some results,’’ adding that the Federal Government is hoping for more improvement in the process.
“We think that this is very important because what tends to happen with corrupt public officials is that if they are able to find a safe haven for the proceeds of their criminality, not only are they encouraged as individuals but there is the general feeling that if I am able to get the proceeds out of the country I might just get away with it,’’ the Vice President said.
According to him, “This is one of the reasons why we have taken several actions to ensure that we are able to deal with it because some of the major dislocations in the economy are on account of the problems that we have seen with corruption.’’
He said the Buhari presidency’s strategy which is one of “the most effective ways of fighting corruption is ensuring that these proceeds are unsafe and for people to know that they would be found out and they would be punished for it and we would seize whatever profit they had gain.’’
On the return of the Chibok girls, the Vice President said, “it is a front burner issue for us all the time, there is no question of not continuing to negotiate and looking for the girls.’’
He expressed gratitude to God for the hope that the girls are still alive and would be released, noting that “negotiations were continuing and government would keep looking for the opportunity to bring them back.’’
The Vice President thanked the US government for its recent decision to sell Super Tucano aircrafts to Nigeria to aid its fight against insurgency in the North-East.
Sen. Christopher Coons who led the delegation said the visit was to reaffirm the relationship between Nigeria and the United States, noting that the US has “an enduring enthusiasm and partnership with Nigeria.’’
Other members of the Congressional delegation include, Sen. Gary Peters, Sen. Jeff Merkley, Sen. Michael Bennet, Rep. Lisa Blunt Rochester, Rep. Terri Sewell, Rep. Charlie Dent, Rep. Barbara Lee and Rep. Frederica Wilson. They were accompanied by the US Ambassador to Nigeria, Stuart Symington.
Also in attendance were the Minister of Foreign Affairs, Mr Geoffery Onyeama, Minister of Agriculture, Chief Audu Ogbeh, the National Security Adviser, Maj. Gen. Babgana Monguno, and the Chief of Air Staff, Air Marshal Sadique Abubakar.

PSQUARE, WIZKID, TIMAYA, D’BANJ, OTHERS ARE MY CHILDREN. I MENTORED THEM – SOUND SULTAN
source: https://makesensemusic.com/psquare-wizkid-timaya-dbanj-others-children-mentored-sound-sultan/


Veteran musician, Sound Sultan, has boasted about being a source of inspiration and motivation to many Nigerian artistes who are big in the music industry today.



The Jagbajantis crooner bragged to Showtime in a recent chat, that before the likes of Wizkid, D’banj, Timaya, Asa, P-Square among others, hit the limelight, he mentored, inspired and moulded them into what they are today, which makes them his children in the Nigerian music industry.



He said: “So many artistes that are big now, when they were budding artistes, I inspired and motivated them. From P-Square to Wizkid, Dbanj, Timaya, Asa, and all the other guys”, he bragged.



He went on to say that their current stardom doesn’t stop him from retaining his status as their father in the music industry.


His words: “That I want to mentor young up and coming artistes doesn’t stop my own career movement, it’s more like a positive energy; it’s not something you need to take a break from.


You don’t have to wait for your fire to die down before igniting another person’s, while your fire is burning you can use it to ignite another person’s fire, so they could feed off the good energy that you emit.


That’s why I’m always here; I feel I’ve already done my own thing, all I do now is to satisfy my fans, use the attention and limelight to influence another person.” Via: Vanguardngr

NIGERIA RANKS THIRD IN GLOBAL INTERNET CRIMES
source : http://www.eyesoflagos.com/2017/08/nigeria-ranks-third-in-global-internet.html

The Nigerian Communications Commission (NCC) says Nigeria currently ranks third globally in cyber crimes behind the UK and the U.S.


NCC’s Chief Executive Officer, Prof. Umar Danbatta, disclosed this on Tuesday at the ongoing 2017 Annual General Conference of the Nigerian Bar Association (NBA) in Lagos.

The News Agency of Nigeria (NAN) reports that the conference’ theme is: “African Business: Penetrating through Institution Building”.

Danbatta, at a breakout session with the sub-theme: “The Business of Cyber Law, Internet Policy and Privacy Rights”, moderated by Mr Augustine Alegeh (SAN) a former NBA President, said the number of internet users in Nigeria has hit 91.6 million.
“About N127 billion was the estimated loss to cybercrime in Nigeria in 2015; Nigeria ranks third in global internet crimes behind the UK and U.S.

“A critical factor militating against Africa’s economic resurgence is the weakness of its institutions.

“Nigeria ranks 169 out of 199 on the World Bank’s ease of doing business rankings; we are in a middle of a revolution and the rise of what we call the networked society.

“The NCC stipulates the laws of engagement that will make the cyberspace safe and ensure the confidence as well as the safety of the cyberspace,” Danbatta, a panelist, said.

“There are benefits and risks of the use of cyberspace and both has to be properly managed.”

NAN reports that other panelists at the breakout session were Mr Bayo Adekanmi, the Chief Transformation Officer of MTN and Ms Ibikun Abidoye, the legal counsel of Chocolate City Group.



Others are Ms Sascha Grimme, the Associate Solicitor of Cooley LLP, a UK-based Lawfirm; and Mr Bisi Adebutu of Premier Lotto, also known as ‘Baba Ijebu.’

In his remarks, Adebutu gave insight into the challenges Premier Lotto faced in conducting transactions on the cyberspace.

“Premier Lotto has moved from the streets to the internet, we have faced certain challenges including paying those who do business with us.

“The cyber laws are not favourable to our business, Premier Lotto ranks as the fourth most visited site in the country.

“We have no easy way of verifying or identifying the owner of cards used to transact business.

“In Nigeria, the business of giving is just emerging, and it is important that we respect the privacy of our clients when they interact with us through the use of usernames and passwords.

“Gaming is very popular on the internet and fraud is one to the challenges we have; if we apprehend an individual trying to perpetuate fraud, we block their access to us.

“We also have challenges of having to discipline offenders and the cyber laws have to be properly identified and implemented to appropriately punish offenders,” Adebutu said.

In her contributions, Grimme said:“Threats and perpetrators of cyber crimes and the motives behind the cyber attacks have to be properly identified.

“There are challenges in identifying perpetrators of cyber crimes; even when identified, there have been instances where they stay in different jurisdictions making prosecution difficult.”

Adekanmi, while speaking, noted that there is an ongoing online revolution happening in modern times, and that online security was very important.

“There is going to be what I call a technology apocalypse, you will wake up one day and someone is living your life somewhere.

“Someone once said that identity theft is worse than kidnapping, there is a thin line between privacy and security in modern business,” the MTN executive said.

On his part, Abiloye, who discussed copyright challenges in the nation’s music industry, said the general perception of copyright is that its incentive is to encourage people to create.

“There is a public slant to copyright; there are a lot of cases about unfair use of copyright.

FG MAY ADOPT SELECTIVE MINIMUM WAGE INCREASE –OSINBAJO

Vice President Yemi Osinbajo says the Federal Government may consider increasing workers’ remuneration package, especially bonuses of certain government agencies, instead of increasing wages across board.



Eyes Of Lagos gathered that, According to a transcript made available to journalists in Abuja on Tuesday by his Senior Special Assistant on Media and Publicity, Mr. Laolu Akande, the Vice-President spoke during a session titled, ‘Conversation with the Vice-President’ at the 2017 Nigerian Bar Association National Conference held in Lagos on Monday.

Osinbajo said though the issue of better pay for workers was a good suggestion, the government was “in a bind of sorts.”

He said at the moment, the government was spending 70 per cent of its revenues on remuneration and overheads, leaving less than 30 per cent for capital expenditure.

He said while it was correct that the country needed a more efficient civil service that would be paid more, there was also the need to increase revenues.

Osinbajo said, “Sometimes, it is a chicken and egg situation because in order to increase revenues, we need to increase remuneration.

“I think that what we are probably going to end up doing is what we have done with some of the parastatals; in other words, identifying certain government services that must be remunerated differently in order to increase efficiency. One of the revenue generating agencies, for instance, is the Federal Inland Revenue Service.

“Improving remuneration, especially bonuses, would do a lot of good. That we saw happen in Lagos with the Lagos Inland Revenue Service, where because there were bonuses, there was improvement in revenue and reform. People were able to do better, even in our judicial system. Because we paid better; we remunerated better, people were able to improve.”

The Vice-President said the commitment of the present administration was to leave Nigeria with all the resources that could be brought to the table.

He said it was also the desire of the administration to leave the country with transparency and efficiency in all aspects.

Meanwhile, Osinbajo has called on the management of ECOWAS Investment Bank to increase agricultural funding in order to reduce the level of poverty and unemployment in the sub region.

He said this on Tuesday in Abuja at the 15th Annual General Meeting of the board of governors of the bank.

He said the need to boost funding to the agricultural sector became imperative as it held the key to unlocking the growth and prosperity of the continent.

He said the current situation where economies of various countries were facing falling government revenues on the account of commodity price slumps, declining economic growth and the challenge of creating jobs necessitated the need for the bank to step up its intervention in member countries.

The VP said the economic challenges had put greater pressure on governments of the member states to urgently diversify their economies.

He said, “The population of the sub region is a youthful one, 70 per cent of our population is under 35 (years) with all the implications for providing education and livelihood.

“So, the challenges of today call for greater creativity, and foresight in supporting and making investments in our member countries.

“So one of the crucial issues today, which would decisively impact the future is how the bank can make a difference in the lives of our young people.”

Osinbajo acknowledged the support of the bank, but noted that there was a need to galvanise more resources to enable it to effectively achieve its mandate.

The President of the Bank, Bashir Ifo, in his speech at the event, said during the 2016 financial year, 11 projects amounting to $121.5m were appraised.

source : http://www.eyesoflagos.com/2017/08/fg-may-adopt-selective-minimum-wage.html

EL-RUFAI, BANTEX,THOUSANDS MARCH FOR PMB IN KADUNA
source : http://www.eyesoflagos.com/2017/08/el-rufai-bantexthousands-march-for-pmb.html

Kaduna State Governor,Malam Nasir el-Rufai and his Deputy,Arch.Barnabas Yusuf Bantex,yesterday, led thousands for a solidarity march for the return of President Muhammadu Buhari.
Eyes Of Lagos gathered that, Speaking during the rally which went round Kaduna city and ended at Murtala Square, el-Rufai, called on the people to continue praying for Buhari and his administration saying no amount of distraction will derail his good work for Nigerians.
The governor also commended the people for keeping faith with the Buhari’s government:” As you see the people that came out to march for president Muhammadu Buhari’s return,shows we are happy he returned to continue with his work.”
Special Adviser to governor Nasir el-Rufai,on Political Matters and Inter Governmental Affairs,Uba Sani, said the mass turn out of Kaduna residents for President Buhari, was to thank God for his healing and safe return.
One of the Buhari’s supporters,Rabiu Usman, said with his return the economic crisis and other challenges facing the nation will soon be a thing of the past:” We are praying and hoping that with the returned of President Muhammadu Buhari,things will really change for the good of all Nigerians.”

FG ORDERS USE OF ID CARD FOR ABUJA-KADUNA TRAIN TICKET
source : http://www.eyesoflagos.com/2017/08/fg-orders-use-of-id-card-for-abuja.html

The Minister of Transport, Rt. Hon. Rotimi Amaechi has directed that every prospective train passenger must present identity cards before obtaining tickets at ticket sales points.
According to EYES OF LAGOS findings, He said that the each passenger on presentation of ID card will be issued a ticket with his or her name boldly written to forestall the possibility of transferring tickets to the highest bidders which was the practice in recent times.
He said this was as a result of complaints of passengers on hoarding of first class tickets by some officials Nigerian Railway Corporation (NRC) and transfer of tickets from one passenger to another by passengers at Idu and Rigassa Railway Stations along the Abuja to Kaduna Railway Line,
Director of operations and acting managing director of the Corporation, Mr. Niyi Alli who dropped this hint recently in Lagos appealed to passengers wishing to enter the Kaduna to Abuja passenger train to obtain ID cards as passengers who don’t have it would not be allowed to board the train.
He also said that some staff of NRC allegedly involved in hoarding first class tickets, have been redeployed while some senior staff have been posted to Idu and Rigassa to ensure full compliance with the directive.
The minister posited that currently NRCis planning to boost its frequency, as the Federal Executive Council has approved the importation of Seven Coaches to boost transit of passengers in the Kaduna to Abuja axis. He was quite optimistic that by the time the Coaches arrive before the end of this year the pressure on the existing stock of Coaches will be reduced.
Regarding the narrow railway line, the minister pointed out that the corporation short and long term plan is to revitalize the corporation. According to him part of the short term plan is the in-house refurbishing programme aimed at refurbishing the existing coaches and wagons in the fleet of NRC while the long term plan entails the concession of the corporation to General Electric so as to enhance importation of additional rolling stocks.

PRICE STABILITY: CBN MOP-UP N2.9TRN IN 7 MONTHS
source : http://www.eyesoflagos.com/2017/08/price-stability-cbn-mop-up-n29trn-in-7.html

To meet its core objectives of price stability, the Central Bank of Nigeria (CBN) in seven months has mop-up estimated N2.9 trillion excess liquidity using the Open Market Operations (OMO) auctions, investigation by EYES OF LAGOS has revealed.
With the CBN introduction of Investors and Exporters Foreign Exchange and Small and Medium Scale enterprises (SMEs) windows, the OMO sales operation has doubled since in April and reached record high of about N779.4 billion in July.
According to EYES OF LAGOS findings, the CBN auctioned N491.5 billion OMO in January but dropped to N407.5 billion in February. In March, the CBN mopped-up N380.2 billion using the OMO and N262 billion and N303 billion in April and May 2017 respectively.
Furthermore, the OMO sales closed at N315 billion, data from CBN website disclosed. OMO is a monetary policy instrument that the CBN used to control the supply of money and the interest rates are always attractive to lure commercial banks and high network investors keep their money with CBN rather than inject them in real sector of economy.
According to CBN, OMO sales have attracted rates between 17.5 per cent and 18.5per cent, a move to keep the foreign exchange stable. So, to deter pressure on the foreign exchange, the CBN sucks out naira from the economy by offering high interest rates believing that the more naira you have available to chase dollars, the lower the depreciation of the naira.
The CBN not only uses OMO but Treasury Bills and federal government bonds to stem inflationary pressure and curtail liquidity arising from maturing bills. However, a group of analysts at Cordros capital said the overnight money market rate contracted week on week by 4,637 basis points to 12.88per cent from last week’s 59.25 per cent.
The report by Cordros capital said, “The prior week started off with a surge in the overnight rate by 4,000 basis points to 99.25per cent on Monday (following reduction in system liquidity as the apex bank sold OMO bills worth N9.39 billion), while it contracted on Tuesday and for the remaining trading days of the week, as the market anticipated the inflow of N168.04 billion via maturing OMO bills (on Thursday) and the refund of excess cash deposited by banks for foreign exchange purchase today.”
The report by Cordros analysts explained that, “While we acknowledge the inflow of N95.66 billion via maturing OMO bills, and likely inflow via monthly budgetary allocations to state and local governments, we expect liquidity to remain pressured as the apex bank continues its aggressive liquidity mop up – in addition to its intervention in the currency space. Thus, we look for the overnight rate trending higher in the coming week.”

CRIES AS LASG DEMOLISH STRUCTURES IN IWAYA – YABA
source : http://www.eyesoflagos.com/2017/08/cries-as-lasg-demolish-structures-in.html

Residents and occupants of Abete community in Iwaya – Yaba were thrown into a restive mood yesterday, August 18, 2017, following the demolition of structures in the area by the Lagos State Government.
The demolition exercise claimed no fewer than 200 houses with residents insisting they can’t fathom why the government ordered the exercise that claimed structures along the Balogun extension of Iwaya.
According to report gathered by Eyes Of Lagos, Several residents described the demolition as unjust, asserting that the government gave them no notice before the demolitions took place
According to them, the state government gave them no time to either relocate or take their prized belongings out of their homes before the demolitions began.
The absence of any prior warning caused a lot of uproar and confusion as the demolition took place, with many victims bemoaning the loss of their accommodation as well as belongings trapped in the massive wreckage.
A resident, who simply identified himself as Ademola, said the government’s action was unexpected. “The demolition came suddenly. Nobody was prepared for it, and we couldn’t move out our things before they started the demolition. We cannot point to anything in particular that led to the demolition, but we suspect that the government has their motive for carrying out this demolition today.”