₦airaland Forum

FOREIGN RESERVES HIT $30.5BN ON RISING OIL PRICES
source : http://www.eyesoflagos.com/2017/07/foreign-reserves-hit-305bn-on-rising.html

The nation’s foreign reserves reached $30.5 billion last week as a result of increased global oil prices, checks by EYES OF LAGOS on the Central Bank of Nigeria’s (CBN) website have revealed.
Data from Organization of Petroleum Exporting Countries (OPEC) revealed that basket of 14 crudes stood at $47.48 per barrel last week from $45.21 a barrel it opened in July.
Experts said world economic growth in 2018 is forecast at 3.4 per cent, the same level of growth forecast for 2017.
“This reflects a continued strengthening of the global recovery which is becoming more balanced, with stability in the oil market remaining a key determinant. Global growth in 2017 is expected to be around 1.27 million barrel per day, broadly unchanged from previous month, average 96.4 million barrel per day”, they said.
According to report, Nigeria’s crude oil production had been stuck on 1.8 million barrel per day and has now recorded an additional 200,000 barrels per day.
In June, the foreign reserves dropped by $41 million or 0.13 per cent to $30.29 billion when it opened in June to close at $30.33 billion.
Analysts had attributed the steady fall in the foreign reserves to CBN’s aggressive interventions in the foreign exchange market aimed at boosting naira and stabilizing the exchange rate.
The CBN in April opened a new special foreign exchange window dedicated to investors, exporters and end users.
According to analysts, external reserves of $30.5 billion will cover imports for a period of over six months.
In a circular entitled, ‘Establishment of Investors and Exporters Window’, the CBN claimed this new window was introduced to boost liquidity in the foreign exchange market and ensure timely execution and settlement of eligible transactions.
In its economic report for May, CBN said the external sector weakened in the month under review due to the decline in crude oil prices from an average of $52.90 per barrel in April 2017 to $51.04 per barrel.
Increased shale oil production in the United States and supply by non-members of the OPEC both contributed to the fall in crude oil prices.
The report said, “Consequently, foreign exchange inflow through the CBN, at $2.26 billion, declined by 21.4 per cent below the level in the preceding month, but was 27 per cent above the level in the corresponding period of 2016. The decline relative to the level in the preceding month was driven by fall in both oil and non-oil proceeds.
“Overall, the net outflow through the Bank in the month of May 2017 was $0.76 billion, in contrast to a net inflow of $0.71 billion and $0.09 billion recorded in the preceding month and the corresponding period of 2016, respectively”.
It noted that aggregate foreign exchange inflow into the economy amounted to $5.78 billion, representing five per cent decline below the level in the preceding month, but showed an increase of 30.8 per cent above the level in the corresponding period of 2016.
The report further noted: “The development relative to the preceding month reflected the fall in inflow through the Bank. Inflow through autonomous sources and the Bank were $3.52 billion and $2.26 billion and, accounted for 60.9 per cent and 39.1 per cent of the total, respectively.
“Non-oil sector inflow, at $1.39 billion (23.1 per cent of the total), fell by 30.2 per cent, below the level in the preceding month. Autonomous inflow rose by 9.8 per cent, above the level in April 2017.
“Aggregate foreign exchange outflow from the economy, at $3.18 billion, rose by 38.8 per cent and 70.4 per cent, above the levels in the preceding month and the corresponding month of 2016, respectively.
“Thus, foreign exchange flows through the economy, resulted in a net inflow of $2.60 billion in the review month, compared with $3.79 billion and $2.55 billion, in April 2017 and the corresponding month of 2016, respectively,” it added.

FGN BOND RECORDS 129.16BLN NAIRA SUBSCRIPTION IN JULY, 2017 – DMO
source : http://www.eyesoflagos.com/2017/07/fgn-bond-records-12916bln-naira.html

The federal government bond which was auctioned on July 12, 2017 has recorded a successful subscription of N9.10 billion for the five year tenor, N55.31 billion for ten years and N64.75 billion for twenty years respectively.
The auction attracted interest rates of 14.50 per cent, 16.2884 per cent and 16.2499 per cent meant to mature on July 15, 2021, March 17, 2027 and April 18, 2037 respectively. According to the data culled from the Debt Management Office website, N3.90 billion was allotted for the five year tenor, ten years tenor attracted N47.01 billion while N55.05 billion was allotted to the twenty years tenor.
Similarly, the FGN savings bond which was auctioned on July 3 to 7, 2017 recorded 342 successful subscriptions for the two year tenor at the rate of 13.386 per cent while the three year tenor had 437 successful subscriptions at the rate of 14.386 per cent.
The bond which is expected to mature on July 12, 2019 had an allotment of N160.770 Million while N239.803 Million was allotted to three year bond meant to mature on July 12, 2020.
Meanwhile, federal government has benchmarked bonds between 2 years tenor to 20 years at the rate between 10 per cent to 16.2499 per cent maturing April 2037. The next FGN savings bond is scheduled to be auctioned on August 7 to 11, 2017.

PRONOUNCE IPOB A TERROR OUTFIT – NORTHERN YOUTH COALITION
source : http://www.eyesoflagos.com/2017/07/pronounce-ipob-terror-outfit-northern.html


The coalition of Northern groups has written officially to the United Nations, asking it to intervene by invoking the relevant statutes to which Nigeria is a signatory to pronounce the Indigenous People of biafra (IPOB ) a terror group.
Urging the international community to proscribe their activities and initiate criminal actions against them, the coalition said it is becoming all the more obvious by the way IPOB and Kanu enjoy massive support from the Igbo back home that the issue of the drive for biafra nation is still a boiling issue, even as it urged the UN to initiate processes for a peaceful referendum as the only option to finally settle the biafran issue.
The coalition’s position is contained in a statement signed by its spokesperson, Abdul-Azeez Suleiman.
In the statement made available to Eyes Of Lagos in Abuja, the Northern groups said they had already written a letter to the Secretary General of the United Nations dated July 12, 2017 and titled: ‘Request for Urgent Intervention Brought Pursuant To The UN Declaration On Minorities; European Framework Convention; UN Declaration On The Rights Of Indigenous People, Which Was Adopted By The UN General Assembly In 2007 In Resolution 61/295’.
Abdul-Azeez recalled that in the wake of the Kaduna Declaration where quit notice was given to the Igbo living in the North, the coalition wrote a letter to Acting President Yemi Osinbajo in which it pointed out the necessity of urgent action to curtail Nnamdi Kanu and his IPOB’s activities.
The coalition added that commendably, Osinbajo initiated series of talks with regional leaders and made genuine moves towards ensuring lasting peace and stability.
Part of the coalition’s statement reads: “We sincerely commend the efforts of the acting President and those regional leaders who cooperated with him in dousing tensions with the aim of creating a conducive environment for meaningful discussions.
“Also reassuring are the condemnations of IPOB by credible Southern and national leaders who were hitherto silent while the group dangerously pushed Nigeria to the brink. Prominent among these is Chief Olusegun Obasanjo, a respected former Nigerian president and by all accounts, a reputable African statesman”.
According to Abdul-Azeez, the genuine concerns shown by a cross section of the civil society, organised peace movements and other well-meaning Nigerians across board are also reassuring of the collective desire for peace and national stability.
He, however, stated that despite the efforts by the acting president and responsible national and regional leaders, Kanu and IPOB remain undaunted and have even intensified their violent divisive campaign, which is the main bone of contention.
The spokesman said on behalf of the coalition of Northern groups, Kanu and IPOB’s continued action is a clear signal that they are committed to breaking away from the Nigerian federation which buttresses its earlier concerns.
He said the peak of the insolence came when Kanu publicly announced that he would order former President Olusegun Obasanjo and his entire family killed. “Worried by these recent threats, we became concerned that Kanu has finally crossed the boundaries of Nigerian laws and has blatantly breached international laws that specifically frown at the use of terror to achieve a goal.”
The coalition told the UN that despite Kanu and IPOB declaring full allegiance to a “Republic of Biafra” and their repeated calls for war, not once did any Igbo leader call them to order or even distance himself or herself from them.
Signed by representatives of 14 coalition groups and copied to several embassies, including the country’s leaders, the coalition’s letter also indicted the current deputy Senate president, Ike Ekweremadu, who they said pays Kanu courtesy visits as a symbolic show of allegiance to a cause that is unconstitutional and violent.
The coalition further stated: “Furthermore, neither the Igbo political and cultural leaders, nor other regional leaders of the North or West, nor the international community or any religious body ever found it necessary to call these renegade groups to order, or in the very least, admonish their leaders to do so.
“Similarly, none of the Igbo leaders holding various positions in this government ever disowned IPOB or condemned its operations until lately with Governor Rochas Okorocha’s mild condemnation after the Kaduna Declaration by our Coalition. Their attitude suggests, to a large extent, the level to which the IPOB Biafran campaign is supported by all levels of the Igbo leadership”.
The coalition said when the country was about to ignore IPOB’s hateful and violent campaign, the Southeast Governors Forum recently took a shocking initial stand through Governor David Umahi of Ebonyi State by which they unequivocally characterised the attitude of Kanu and IPOB as mere “peaceful” agitations.
The Northern groups said, “Finally, as we patiently await the decision of the UN and the Nigerian authorities, we reaffirm our faith in one peaceful Nigeria and restate our stand on nonviolence.”

WOMEN FAWN OVER BOBRISKY WHO STEPPED OUT IN A CROP TOP IN NEW YORK
source : http://www.eyesoflagos.com/2017/07/women-fawn-over-bobrisky-who-stepped.html

BOBRISKY IS GETTING SOME ATTENTION FROM WOMEN WHO SURROUNDED HIM FOR PICTURES AS HE STEPPED OUT IN A CROP TOP IN NEW YORK.

Controversial bleaching expert, Bobrisky went to a New York party dressed, as usual, like a woman.

The male crossdresser was dressed in a sparkling silver, sequined crop top on a black trousers.

He had his hair styled in a mass of curly weave with a glamourous makeup to complement his attention-seeking look.

The male barbie was lavished with some attention from some women who sought to take pictures with him.

WHY SUPREME COURT SACKED SHERIFF AS PDP CHAIRMAN
source : http://www.eyesoflagos.com/2017/07/why-supreme-court-sacked-sheriff-as-pdp.html

The Supreme Court on Wednesday upheld the election of a former Kaduna State governor, Ahmed Makarfi, as the authentic chairman of the Peoples Democratic Party, PDP, after a protracted legal battle that ruptured the unity of the party.
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A three-member panel of the court presided by the Chief Justice of Nigeria, Walter Onnoghen, upbraided Mr. Makarfi’s contender, Ali Sheriff, for demonstrating “infantile desperation to lead the party.”
Reading out the judgement after weeks of compilation, a member of the panel, Rhodes Vivour, said Mr. Sheriff was not within the category of an ‘unimpeachable leader’, stressing that the removal of the former governor was not necessarily expected to follow a vote of no confidence.

Mr. Vivour added that there was no clause in the constitution of the party that made it mandatory for Mr. Sheriff to be removed’ using a vote of no confidence.

“He demonstrated an infantile desperation to lead the PDP by filing almost 10 different applications in various courts. They shall forever gather dust in judicial archives,” the judge said, referring to the various applications filed by Mr Sheriff regarding the matter over the last few months of intense legal wrangling.
Mr. Vivour cited relevant sections of the PDP constitution which made it imperative for members of the party to respect the proceedings of the PDP national convention.
“The subject matter in the issue is Article 33; 35 and 47,’’ said Mr. Vivour, who then went ahead to state the contents of the aforementioned articles.
“There shall be a national convention. All members of the party shall be bound by the decisions of leaders from the National convention. Article 33 states the supremacy of the National convention.”


Mr. Vivour added that the PDP constitution allows the deputy national leader of the party to stand in for his principal adding that “when Mr Sheriff abandoned the national convention in May 2016, the party asked his deputy to stand in for him, making his attendance noted at the convention.”

The apex court further said that although the PDP constitution allows the party to remove the National leader after two years through a vote of no confidence, the word used to denote Vote of no confidence was ‘may’, which does not signify compulsory adherence.
“May is not the same thing as shall,” therefore “a national officer could be removed without a vote of no confidence.”
“There can be no doubt that the National convention has enormous powers over the party,” said Mr. Vivour, who thus faulted the lower court for declaring the conduct of the national convention as illegal.
The apex court subsequently ordered Mr. Sheriff to pay a fine of N250,000 for abuse of court processes.

A long-drawn battle
The rift between both leaders of the party began with a ruling of a Federal High Court in Lagos on May 17 2016, which resulted in contrasting court judgements which subsequently led to troubled days for the PDP and led to the loss of many members of the former ruling party.
In the said ruling, the Federal High Court, FHC, in Lagos gave an order restraining the PDP from conducting election into some national offices at the National Convention that was to be held in Port Harcourt, Rivers State that month.
But shortly before the date of the said convention on May 21, the PDP received a different judgement from another FHC in Port Harcourt allowing the convention to hold as scheduled.
After the meeting, on May 25, two courts in Lagos and Port Harcourt gave conflicting judgements: one allowing, the other nullifying the proceedings of the meeting.
Then on August 15, Justice Okon Abang of the Federal High Court, Abuja Division, gave an order suspending a planned national convention of the PDP on August 17, after the Port Harcourt branch of the same court gave an order compelling the Independent National Electoral Commission, INEC, and the police to ensure the conduct of the convention.

After months of traversing the trial courts, the Sheriff faction approached the Appeal Court in Port Harcourt to contest a decision of the lower court which on July 4, 2016 affirmed the emergence of Mr. Makarfi as the authentic leader of the PDP during the May 21 convention of the party.
Again, on February 17, the Port-Harcourt Division of the Appeal Court upturned the decision of the lower court and affirmed the appointment of Mr. Sheriff as the authentic leader of the party.
After that judgement, the Makarfi-led faction approached the Supreme Court in what could be regarded as last ditch effort to wrest control of the party from Mr. Sheriff.

The move appears to have paid off.

CBN, NERDC TRAIN TEACHERS ON FINANCIAL INCLUSION
source : http://www.eyesoflagos.com/2017/07/cbn-nerdc-train-teachers-on-financial.html

The Nigeria Educational Research and Development Council (NERDC) in partnership with the Central Bank of Nigeria (CBN) says it will commence the training of teachers ahead of the inclusion of financial education in the curriculum of primary and secondary schools in the 2017/2018 session.
This is to ensure that financial education is ingrained in students from a young age as part of financial inclusion target of the country. Speaking at a workshop for the development of the teachers’ guide in Lagos yesterday, the Executive Secretary of the NERDC, Professor Ismail Junaidu said the curriculum is essential in entrenching financial education in Nigerians at a young age.
Junaidu who noted that the problem of buffet execution which the country has is due to dearth of financial education said “if you teach them now and they grow up with that culture, they will be able to manage the resources to utilize very well and to explore various avenues of taping the resources.”
On her part, CBN director, consumer protection department, Hajiya Umman Dutse, noted that lack of consumer sophistication and education was one factor that contributed to the 2008/2009 financial crisis in the country.
This she said had informed the decision by the apex bank, regulators in the financial sector as well as financial institutions to include financial education in the school curriculum. “We developed in conjunction with stakeholders, a curriculum which recognises school children and youths as a major target group in financial education.
“We are committed to seeing that the financial education curriculum is launched at the beginning of the 2017/2018 academic session. On funding of the next stage of implementation which is training the teachers, she said the financial sector stakeholders are looking at either training at geo political level or on a state level basis.
Dutse, who did not specify how much has been pooled for the project said financial institutions as well as regulators who have contributed for the project are still committed to putting in more if required.

NOLLYWOOD ACTRESS RITA DOMINIC CELEBRATES HER 42ND BIRTHDAY TODAY
Source : http://www.eyesoflagos.com/2017/07/nollywood-actress-rita-dominic.html

Nollywood Actress Rita Dominic celebrates her birthday today as she share this on her Instagram



Rita Dominic at the Africa Magic Viewers Choice Awards in Lagos, Nigeria, March 2014
Born Rita Uchenna Nkem Dominic Waturuocha
July 12, 1975 (age 42)
Mbaise, Imo State, Nigeria
Alma mater
University of Port Harcourt
(BA in Theatre Arts)
Occupation Actress

Another Babymama? Reekado Banks Shares Baby Bump Of Pregnant ‘Girlfriend’?
source : https://makesensemusic.com/another-babymama-reekado-banks-shares-baby-bump-pregnant-girlfriend/

Mavin singer and songwriter, Ayoleyi Hanniel Solomon, better known by his stage name Reekado Banks, shared a photo of a pregnant lady with a huge baby bump and it left his fans wondering if that’s his girlfriend.

Sharing the photo of the lady many have fingered to be his girlfriend, the ‘Katapot’ crooner captioned ‘99%‘ accompanied by two love emojis, while also covering her face with a love symbol.

CBN REAFFIRMS COMMITMENT TO SOUND FINANCIAL SYSTEM, COMBAT MONEY LAUNDERING
source: http://www.eyesoflagos.com/2017/07/cbn-reaffirms-commitment-to-sound.html

The Central Bank of Nigeria (CBN) has reaffirmed its commitment to ensure that the Nigerian banking sector is not used as a means of money laundering in or outside the country or for any other form of illegal activities, its Governor, Mr Godwin Emefiele, said yesterday.
Emefiele disclosed this in Abuja at the opening ceremony of the Regional Course on “Combating Money Laundering and other Financial Crimes,’’ organised by the West African Institution for Financial and Economic Management (WAIFEM) with participants from the Central Bank, Ministry of Finance and law enforcement agencies of Nigeria, Gambia, Ghana and Liberia.
The event also saw the signing of a 1.3 million dollars agreement between the African Capacity Building Foundation (ACBF) and WAIFEM to assist the later expand its scope of activities within the next 18 months.
Emefiele, represented by the Director, Financial Policy and Regulation Department, CBN, Mr Kelvin Amugo, said the CBN was working closely with banks to ensure that ill-gotten-gains-of crime is not legitimised using the financial sector. “One of the core functions of the CBN is to promote a sound and stable financial system in Nigeria and combat money laundering to ensure that the financial system is safe and steady.
“Because of that, we have embarked on a number of initiatives. We have issued circulars to Security Compliance Officers at banks; we have also issued circulars on the importance of KYC (Know Your Customer) before any account is opened. Also, the recent BVN is all geared towards ensuring that the financial system is stable, to make sure that depositors in the banks are known depositors and not those that will use the banking system as a platform to carry out illegal activities,’’ he said.
Emefiele said that the CBN had supported the establishment of the Economic and Financial Crimes Commission (EFCC) and the Financial Intelligence Unit, as strategic to fighting the menace.
He said that Nigeria had also applied for membership of Financial Action Task Force on Money (FATF), which is an intergovernmental organisation founded in 1989 by the G7 to develop policies to combat money laundering. He said that the FATF had already scheduled a visit to Nigeria later in the year as part of its procedure prior to admitting the country.
Also, the director general, WAIFEM, Prof. Akpan Ekpo, said that financial system stability was a major prerequisite for economic growth and development.
“Money laundering is a key threat to financial stability in any economy, especially to small and fragile economies in our sub-region. A number of predicate offences for money laundering are common in our region and these include drug trafficking, human trafficking, arms trafficking and counterfeit, to name a few,’’ he said.
Meanwhile, the executive secretary, ACBF, Prof. Emmanuel Nnadozie, said that for the past 15 years, the foundation had supported WAIFEM with about 8 million dollars. “The Purpose of the 1.3 million dollars grant being offered to the Institute is to enable WAIFEM to consolidate and expand the scope of its activities within the next 18 months.
“The support to WAIFEM is coming at a time when economies of countries in the sub-region continue to face shocks and dislocations in policy. Countries in the region continue to face the perennial problem of inadequate infrastructure, debt over
Meanwhile, the CBN yesterday injected the sum of $142.5 million into the inter-bank foreign exchange, days after intervening in the retail segment of the market with the sum of $254.3million.
A breakdown of the latest intervention shows that the Bank offered the sum of $100million to dealers in the wholesale segment, while it allocated the sum of $23 million to the Small and Medium Enterprises (SMEs) segment. Those requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA) received $19.5 million.
Spokesperson of the apex Bank, Isaac Okorafor said the CBN will continue to carry out its regular mediation in the market so as to keep the market liquid and guarantee the international value of the naira in line with its mandate.
While reiterating the Bank’s resolve to intervene in the market based on bids received from dealers on behalf of their respective customers, Okorafor said the CBN will not relent in ensuring transparency and efficiency in the sale of forex. According to him, this commitment prompted the Bank to mandate dealers to make public their forex utilization. He therefore urged all stakeholders to continually play their roles to guarantee transparency in the market.
It will be recalled that the CBN last Friday intervened in the retail segment of the forex market to the tune of $254.3m following bids received from forex dealers by the apex Bank. The figure sold by the Bank was for companies in the raw materials, agricultural, airline and petroleum industry.
Meanwhile, the naira maintained its stand at the Bureau de Change (BDC) segment of the forex market, exchanging at an average of N364/$1 in Lagos, Abuja and Kano.

NTA REPORTER SHOT DEAD IN BENIN
source : http://www.eyesoflagos.com/2017/07/nta-reporter-shot-dead-in-benin.html

A reporter with the Nigerian Television Authority (NTA), Benin, Mr Lawrence Okojie, was allegedly shot dead by gunmen on Saturday night in Benin.


The News Agency of Nigeria (NAN) reports that Okojie was said reported to have been killed around Ogunola Junction, off Siluko Road.

The spokesman of the State Police Command, DSP Moses Nkombe, who confirmed the report, said one person had been arrested in connection with the incident.

NAN gathered that the late Okojie, who was dropped off by NTA staff bus at Ogunola Junction around 8: 00 p.m. on Saturday, had called his wife on phone and informed her that he was on his way home.

It was, however, several hours later that the wife, after repeated calls to his phone without any response raised an alarm that her husband, who was supposed to have arrived home could not be reached.

It was gathered that some of his colleagues at NTA joined by some family members on a search mission, discovered his corpse in a morgue in Benin on Sunday night.

As at the time of filing in this report, the circumstances surrounding the death of the reporter are still sketchy.

The police have, however, promised to thoroughly investigate the matter.

NAN reports that Okojie’s death brings to five the number of journalists killed in the state in the last six years.

FACEBOOK USER SHARES HOW HE WITNESSED AN ACCIDENT THAT ALL PASSENGER CAME OUT UNHURT
source: http://www.eyesoflagos.com/2017/07/facebook-user-shares-how-he-witnessed.html

Facebook user (Joseph Udegbe) shares how he witnessed an accident that all passenger came out unhurt.
It was a miracle and a thing of great Thanksgiving to God as I saw this car lost control before me along ph - enugu express way around 6:30pm today and somersaulted three times ending up downwards, the Catholic 'Rev. Fr.' (name with-held) came out unhurt with other four passengers without any casualty. To God be the glory. Amen

White Man Spotted Paddling Canoe Inside Lagos Flood (Video)
source : http://www.eyesoflagos.com/2017/07/white-man-spotted-paddling-canoe-inside.html

From the mainland to the luxurious island in commercial city Lagos state and many other communities in the state are experiencing massive flooding as a result of heavy downpour which started since Friday till Saturday and lasted for several hours.
A foreigner has been seen paddling his canoe inside the flood.
A video emerged earlier today which was filmed in front of the popular Silverbird entertainment centre in Victoria Island where a foreigner was seen paddling his canoe inside the flood.
Watch the hilarious video footage below;
Watch the hilarious video footage below;

https://twitter.com/bizzleosikoya/status/883645523256856576

BOKO HARAM: VICTORY IN SIGHT – CAS
source: http://www.eyesoflagos.com/2017/07/boko-haram-victory-in-sight-cas.html

The Chief of the Air Staff, Air Marshal Sadique Abubakar, says the Nigerian military is winning the war against the Boko Haram insurgents in the North-East and other parts of the country.

Abubakar said this on Friday while inaugurating one block of 30-room accommodation for officers and men of the 115 Special Operations Group (SOG ), Port Harcourt.

He said that many terrorists’ cells in the North-East had been decimated by security forces and assured that victory was in sight.

“The Nigerian military is currently on the path of winning the war against terrorism in the North-East and other parts of the country.

“If you recall, in 2014, terrorists moved in convoy of 15 to 20 Hilux vehicles; ravaging villages and killing villagers. But that is not the situation on ground now.

“It is true that we have cases of suicide bombings, but we are doing everything humanly possible to contain the insurgents.

“The insurgency may linger for some time but we are capable to deal with the whole issues and make it become a thing of the past.

“We have highly committed Nigerians (military personnel) that are working day and night to ensure that no part of Nigeria is under the control of any group other than the legitimate government,” he said.

Abubakar assured that the military would continue to safeguard the nation’s territorial integrity from any form of external and internal aggressions.

He refuted claims that the military had penchant for committing collateral damages in its operations in the northern parts of the country.

According to him, the military should be commended and encouraged for its selfless service to the nation rather than being condemned by some.

Abubakar explained that the 115 SOG Air Force unit played a very critical role in various security operations in the country.

“We are on a visit to the unit to access preparedness of the unit while improving on welfare of troops for effective and efficient service delivery,” the air chief said. (NAN)

POLICE OFFICERS HELPING BILLIONAIRE KIDNAPPER EVANS EXPOSED
source: http://www.eyesoflagos.com/2017/07/police-officers-helping-billionaire.html

Fresh revelations have exposed Nigerian police officers aiding Billionaire kidnapper Chukwudumeje George Onwuamadike (alias Evans) Eyes Of Lagos has learnt

A policewoman accused of aiding suspected kidnap kingpin to escape justice in 2006 is still in the police.


It was gathered that the woman, simply identified as Tina, is now a Chief Superintendent of Police (CSP). She was unmasked by a Special Investigation Panel (SIP) constituted by Inspector General of Police (IGP) Ibrahim Idris to probe Evans’ 2006 arrest, transfer from Lagos State to Imo State and eventual release.

After the suspect’s arrest last month, a senior police officer told reporters that his team apprehended Evans in 2006 after a bank robbery.

The officer had claimed that Evans and his gang members had a gun duel at the National Theatre in Surulere, Lagos Mainland after a disagreement in sharing their loot, adding that the kingpin was shot and left to die.

According to the officer, Tina, who was a Superintendent of Police (SP) at the time, mounted pressure on them to release Evans and two of his members but when her request was not met, she went through Imo State Command, where a signal was sent for the transfer of the suspects.

As a result of the revelations, IGP Idris constituted a panel to investigate the 2006 arrest, transfer and eventual release of Evans and his members.

The panel was to identify all officers who had a hand in the matter, whether serving or retired.

According to a source, the panel has made “reasonable progress” in its investigation because almost all the officers that took part in the “rape of justice” have been identified.

He said the police might soon release statement on the issue.

The source said: “I can tell you that Tina is not the woman’s real name but I won’t give you her name. I can also tell you she’s now a CSP and still in service. So many officers took part in that 2006/2007 release of Evans and they are being investigated. The panel has made progress and almost all of them have been identified. An official statement might be release by the authorities soon.”

The fundamental rights suit filed by Evans has been assigned to Justice Babs Kuewumi of the Federal High Court in Lagos for adjudication.

The case, a source said, has been returned to the registry for temporary assignment to another judge who will sit during the court’s long vacation.

The vacation judge handles only urgent motions and cases bordering on human rights violations before they are re-assigned permanently to other judges.

The source said: “The case was assigned to Justice Kuewumi. But due to its nature, the judge felt it would be better handled by a vacation judge.

“He felt it would not be ideal to adjourn it for hearing until after the long vacation in September.

“So, it was the judge who gave parties the July 13 date to appear before the vacation judge after studying the file.”

The court will begin its nine-week annual vacation on Monday. It will resume on September 8.

A statement by Chief Registrar Emmanuel Gakko reads: “The Federal High Court of Nigeria hereby wishes to notify the general public, lawyers and litigants that the court’s annual vacation for the year 2017 shall commence from Monday, 10th July 2017 and would end onFriday, 8th September 2017.

“The court would therefore resume on Monday, the 11th day of September 2017.”

Two judges – Justice Abdulazeez Anka and Justice Chuka Obiozor – will take turns to sit during the vacation in the Lagos division.

It was not immediately clear who will sit first during the vacation.

Evans sued the Inspector-General of Police for alleged violation of his fundamental rights.

He is praying the court to compel the police to charge him rather than detaining him indefinitely since June 10.

Evans is also demanding N300million damages and an apology for the alleged violation of his rights.

In the fundamental rights enforcement suit filed on his behalf by a Lagos lawyer, OlukoyaOgungbeje, the suspected kidnapper said his continued detention without trial was illegal.

The police, Lagos Commissioner of Police, Special Anti-Robbery Squad and the Lagos State Police Command are the other respondents.

Alternatively, Evans is seeking an order compelling the respondents to immediately release him unconditionally.

Evans argued that the respondents ought to have charged him to court in line with Sections 35 and 36 of the Constitution.

In a 27-paragraph affidavit in support of the motion deposed to by Evan’s father, Stephen Onwuamadike, it was averred that the applicant had been subjected to media trial without any court’s order.

The father said since his son’s arrest, all his family members has been denied access to him while reporters were granted unfettered access to him.

An Assistant Commissioner of Police, Abba Kyari, said Evans’ detention was to allow for thorough investigation.

“All those who want Evans released did not know that the police had obtained a 90-day warrant to detain him,” said Kyari, who led a special squad that smashed Evans’ gang.

Evans had also reportedly denied instructing any lawyer to file a suit on his behalf.

“I have no hand in any case filed against the police and I did not speak with any lawyer or my father to file a case on my behalf,” he was quoted as saying in a television interview.

Ogungbeje, however, told our correspondent that he was instructed by Evans’ family to file the action.

The lawyer said Evans’ father was personally in court to depose to an affidavit in support of the case.

FG WILL SOON UNVEIL POLICY ON COMMUNITY POLICING – OSINBAJO
source: http://www.eyesoflagos.com/2017/07/fg-will-soon-unveil-policy-on-community.html

Acting president Yemi Osinbajo yesterday revealed the federal government’s intention to develop a new policy on community policing.
He said the policy, which will be introduced soon, will help address the issue of manpower in the Force and also address security challenges.
He gave the hint in Abuja at the launch of a book titled, ‘Law on Prevention and Detection of Crimes by the Police in Nigeria’ authored by the former Inspector General of Police, Solomon Arase.
Osinbajo who was represented by the special adviser on political matters to the president, Senator Babafemi Ojudu, said, “There is no way we can continue with the way we are policing now and the federal government is looking carefully at the issue of community policing and very soon, we will come out with a policy on that.
“We have to look at other parts of the world when we are doing it. Sitting down in Abuja by an IGP and policing the remote parts of the country and being in charge of the welfare of all the policemen across the length and breadth of the country doesn’t seem to be working”.
Also speaking at the function, the chairman of the occasion and former governor of Cross Rivers State, Donald Duke, lent his voice to the establishment of state policing.
He noted that the decentralization of policing is the greatest prevention to crime and allows for better monitoring and intelligence gathering.
Hinting that Nigeria needs 1.8million policemen for proper policing, he said, “I must say that I disagree with the author’s position that state policing, though theoretically ideal, will be abused and that states indeed are too financially handicapped from embarking on this. I posit instead that we must always strive for the ideal without losing sight of reality, this reality being that we are severely under-policed.
“Our population may be approaching 200 million by 2020. The United Nations’ ideal statistics for police civil populace ratio is 1/100. In other words, at 180 million persons, we are in need of a 1.8 million police force”.
Also speaking, the author of the book, Arase said the law enforcement role of the police can only be attained if officers have proper knowledge of what law enforcement entails.
He said 21st century policing architecture of Nigeria ought to deviate from the state of affairs and evolve into a knowledge-driven system that is befitting of the country’s democratic values.
Meanwhile, a book, ‘Nigeria: The Restructuring Controversy’, authored by Dr Mike Mbama Okiro, chairman of Police Service Commission and retired Inspector General of Police, will join the fray tomorrow as the nation grapples with the search for a new political order.

LUTH MANAGEMENT ISSUES DISCLAIMER ON FAKE RECRUITMENT WEBSITE
source: http://www.eyesoflagos.com/2017/07/luth-management-issues-disclaimer-on.html

The management of Lagos University Teaching Hospital (LUTH) has distanced itself from a fake online platform indicating that the body is recruiting for a position of house officers.
Eyes Of Lagos gathered that, In a statement released yesterday, July 4 2017, through the chief Medical director, Prof. Bode stated; “Our attention has been drawn to an online platform purporting to recruit fresh House Officers for the Lagos University Teaching Hospital (LUTH) through Medimail247 E-Parcel Service with Intending applicants been asked to buy forms for N5000 and pay a parcel charge of 1750. The email address used is medimail247@gmail.com .
While advising the general public, the management said that the service is a SCAM intended to defraud unwary doctors and swindle them of their money. The Lagos University Teaching Hospital has nothing to do with the site and implored that fraudsters should not be patronized.
The management however seeks the assistance of the Inspector-General of Police of the Federation in fishing out the culprits involved in this illegality or anyone with information about this group should report any such activity to the security services.

PRISON CONGESTION AS INGREDIENT FOR HUMAN RIGHTS VIOLATION
source: http://www.eyesoflagos.com/2017/07/prison-congestion-as-ingredient-for.html

Media space has been assailed, lately, by claims and denials, on the extent of human rights violations in this clime. Top on the cards is the report of Amnesty International on the alleged cases of “arbitrary arrests, unlawful detention, torture, forced disappearance and extra-judicial executions” against military officers engaged in counter terrorism and counter insurgency operations, especially in the North East, South East and South South.
This discourse is not a consideration of the merits or inaccuracies in the AI report. Rather, we are concerned with basic denial of rights perpetrated by our warped, unfair and quite insensitive judicial system. To the layman, what is the common sense when a man who stole a goat is slammed in a stinking and congested prison but the big man who stole billions of naira from pension funds is granted bail to travel abroad for medical checkup?
Prison congestion and its antidote have featured since 1999 in the template for judicial reforms. Same in the yearly budget estimates of both the Federal Ministries of Justice and Interior. The result is more congestion and greater lamentation. But the poor, hapless convicts, including suspects awaiting trial, continue to suffer in squalor and dehumanizing conditions.
One recent encounter may give a clue on this seemingly untreatable cankerworm. Mr. Femi Gbajabiamila, a memberof the House of Representatives from Lagos State, last week visited the Kirikiri Medium Security Prison. His mission was to perfect the bail conditionof some 40 persons who were remanded for their inability to meet conditions imposed by some funny magistrate courts. Reports indicated that most of them were arrested and taken to court for offences such as hawking and loitering within Lagos metropolis. The logic here is not in the tenets of the law they violated. The lawmaker was miffed by the fact that a sizeable number of those remanded in prison were arraigned before magistrate courts which have no jurisdiction to entertain such cases.
At the root of the rot in our prison system is the seeming insensitivity on the part of managers of the system. The medium security section has space for 1,700, but when ‘Gbaja’ visited, there were 3, 553 inmates. What an ingenious way to breed hardened criminals!
The use of remand order by the courts is quite contentious even as it is vexatious. Legal minds have divergent views. But no one with any sense of fairness and compassion will support the idea that those who hawkon the streets be remanded in prisons; congested and de-humanizing as they are. They could be fined or made to engage in cleaning the streets. But what are the managers of the system thinking? The Supreme Court and several other courts in the land have held that slamming a holding charge on a suspect is unconstitutional. Rather than grant administrative bail, most magistrate courts will slam a remand order on petty suspects, send them to the prison custody to rot away.
While the rot is systemic, government officials saddled with wearing their thinking caps will rather embrace pedestrian solutions. The most attractive is the award of contracts to build more prisons that will accommodate more bad guys. Meanwhile, the case of the awaiting trial suspects, who constitute the majority of inmates, is never properly addressed.
That is why a prison reform group, the Citizens United for the Rehabilitation of Errants-CURE-, has criticized plans by government to build more prisons without first decongesting those bursting in the seams. Recall that the Minister of Interior, Gen. Abdulrahman Dambazau, recently announced the plan to build new prisons. Indeed, the Kano State government has donated a land to build a 3,000 capacity facility.
But CURE would rather see government find a cure for the national cankerworm tagged Prison congestion. Mr. Sylvester Uhaa, its executive director, agreed that many of the existing prisons are very old, some built by the colonialists. He argues thata comprehensive justice reform system and massive prison decongestion should precede the building of new ones. His logic: “We should decongest the prisons by ensuring that only those who are convicted are sent to prison to serve their jail terms, reduce the over reliance on incarceration as the only form of punishment and by reforming the criminal justice system. It is only then that it will make sense to build new prisons.
“If we build new prisons now without first addressing the root causes of the rising crime rate in Nigeria, as well as the failure of the criminal justice system to process and send to prisons only those who are found guilty of crimes, we will still fill up the new prisons with people awaiting trial most of whom are innocent, he reasoned.
So, why are seemingly innocent people or those yet to be convicted for any crime clamped in the prisons? The answer can be found in inept leadership, poor judgment and corruption combined. Listen to Uhaa again: “It sounds strange that at a time countries around the world are closing their prisons, Nigeria is planning to build new prisons when 70 % of prisoners are awaiting trial.”
Many figures are flying around. A prison fact sheet indicates that some 69,200 people are behind the irons. No fewer than 47,800 of them are awaiting trial. Sadly, by theadmission of Dambazau, most of those awaiting trial in the various prisons have spent an average of 15 years for offences that should attract just 12 months in custody! Any wonder why Amnesty International is breathing down our neck.
Now, back to the pesky stance of Amnesty International. It is re-assuring that the Chief of Army Staff had responded promptly by raising a Special Board of Inquiry to investigate the allegations contained in the report. The panel has since published its findings. It is indeed a wake-up call for managers of the criminal justice system.

PRICES OF DIESEL CRASHES MORE WITH NNPC INTERVENTION
source: http://www.eyesoflagos.com/2017/07/prices-of-diesel-crashes-more-with-nnpc.html

Prices of Diesel has continued to extend the declines since last week as recent strategic intervention of the Nigerian National Petroleum Corporation (NNPC) has led to a 42 percent fall in the price of the Automotive Gas Oil (AGO) across the country.
A national survey by Oil and Gas Forum, NNPC’s weekly TV programme, indicated that in the last few weeks, the price of diesel has fallen steadily from between N175 and N200 per litre as at June 18, 2017, to as low as between N155 and N160 per litre in some stations across the country as at last week.
NNPC’s interventions included sustained improvement in the supply of the product and remodeling of the product distribution channels to address sufficiency issues across the country.
Another area of intervention that has enhanced supply and distribution of diesel is the corporation’s robust engagement with critical downstream stakeholders such as Major Oil Marketers Association of Nigeria (MOMAN), Nigerian Association of Road Transport Owners (NARTO), Petroleum Tanker Drivers (PTD) as well as Independent Petroleum Marketers, leading to the resolution of salient issues.
The corporation has also taken huge steps to resuscitate some of its critical pipelines and depots such as the Atlas Cove – Mosimi Depot Pipeline, Port-Harcourt Refinery – Aba Depot Pipeline, Kaduna – Kano Pipeline and the Kano Depot which have enhanced efficiency in the distribution of AGO. Efforts are also ongoing to revamp and re-commission other critical pipelines and depots across the country.
Studies showed that NNPC Mega Stations and its affiliates across the country sold the product for N160 per litre while many major and independent marketers in Abuja, Lagos, Kaduna, Onitsha, Enugu, Makurdi and most major cities were selling between N160 and N165 per litre. In Port Harcourt the average price is as low as N150 per litre.
According to Eyes Of Lagos, The Manager of a fuel retail station in Abuja, Ibrahim Isah, said the station had to reduce the selling price to N165 per litre in line with the prevailing market situation in order to sustain the turnover of the business. An independent marketer in Makurdi, Innocent Abbah, said the going ex-depot price of diesel from tarmac or local private depots is N155 per litre.
However, the situation is slightly different in Asaba and Warri in Delta State and Uyo in Akwa Ibom state where most independent fuel stations as well as major marketers sold the product for N180 per litre.

THE THREE POWERFUL TRIO - THROWBACK PICS OF ADE ASEKUN, TUNDE FOWLER & YEMI OSIBANJO
source: http://www.eyesoflagos.com/2017/06/the-three-powerful-trio-throwback-pics.html


For those who don't value friendship. You could learn a thing or 2 from this picture. The upper one shows the youthful period of Ade Asekun, Tunde Fowler & Yemi Osibanjo. The trio are still friend till date but powerful. *Ade is now the Nigerian Ambassador to Canada, Tunde is the Chairman FIRS & Yemi is the Acting President of Nigeria* keep your friends and circles tight.

SARAKI CANVASSES TOLERANCE, PATRIOTISM, AMONG NIGERIANS
source: http://www.eyesoflagos.com/2017/06/saraki-canvasses-tolerance-patriotism.html

Senate President Bukola Saraki has congratulated Muslim faithful on the successful completion of a month-long Ramadan fast, while urging all Nigerians to imbibe the spirit of tolerance, peace, patriotism and love for one another as a way of building a strong and united nation.
In a statement by his special adviser on media and publicity, Yusuph Olaniyonu, to commemorate the Eid-el-Fitri celebrations, Saraki said only tolerance, stronger sense of patriotism and love for one another will help the country sail through the present multiple agitations confronting her.
He called on Nigerians to put love of the country over and above individual and sectional interests.
He said, “We should put into practice the lessons of tolerance, perseverance, and love for our neighbours that we learnt during the Ramadan period to overcome the multiple agitations threatening the corporate existence of our country.
“We should realize that our strength as a nation revolves around our diverse nature, and we must do all we can to ensure that we manage these diversity to build a strong, economically viable, politically stable and prosperous nation”.
While reiterating the Senate’s resolve and determination to keep the nation united, the Senate President said the task is a collective responsibility, and charged Nigerians to embrace peace and dialogue in resolving contentious issues.

INSURGENCY DSS UNCOVERS PLOT TO ATTACK KANO, KADUNA OTHERS
source: http://www.eyesoflagos.com/2017/06/insurgency-dss-uncovers-plot-to-attack.html

The Department of State Services (DSS), on Friday, said it had uncovered plot by suspected terrorists to attack Kano, Kaduna, Sokoto and Maiduguri during the Eid-el-Fitr celebration.
Mr Tony Opuiyo, an operative of the service who made the disclosure in Abuja, said two suspects — Yusuf Adamu and Abdulmuminu Haladu — were arrested in Sokoto in connection with the plot in the early hours of Friday.
Represented by Mr Nnanna Nnochiri, also an operative with the service, Opuiyo said the service had earlier arrested Bashir Mohammed, the facilitator of the Kano attack on June 20 at Unguwar Barnawa, Kaduna.
Shekarau Madaki was also arrested at Kumbatso Local Government Area of Kano State.
Opuiyo said that their plan, together with some currently at large, was to assemble explosives and use them on selected targets during the sallah celebration.
He added that items recovered from Mohammed‘s house were eight AK 47 rifles, 20 Ak 47 loaded magazines, 27 hand grenades and 793 rounds of live ammunition.
Others were one gas cylinder, three laptops, one Lifan motorcycle, one Honda Civic car and one printer.
He said the service had also uncovered plots by terrorists to infiltrate the ranks of the Islamic Movement of Nigeria, also known as Shiites.
“This is an attempt to assume formidable cover to unleash violence and evoke a complete state of chaos in Abuja and other northern states.
“Sequel to this, the SSS is warning members of the Islamic Movement of Nigeria (IMN) to desist from staging any form of procession or demonstration as the terrorists will seize the opportunity to unleash mayhem,” he said.
He advised the public to disregard the antics of the terrorist extremists to cause breakdown of law and order and instil fear in the populace.
He said “the Service is working in concert with other security agencies to ensure that no section of the country is attacked during and after the sallah celebrations.”
He enjoined law abiding citizens and residents to go about their normal businesses without fear.

WHY I SHARE MY CROWN WITH MY WIFE – OBA AKANBI
source: http://www.eyesoflagos.com/2017/06/why-i-share-my-crown-with-my-wife-oba.html


The Oluwo of Iwoland, Oba Abdulrasheed Adewale Akanbi, has given reasons why he puts the kingship crown of his land on his wife, an action many do not see as part of Yoruba culture.
Oba Akanbi is the only Yoruba Oba known to share the crown with his wife.
And people say it is a desecration of the tradition.
But speaking with Sun, the young monarch claimed he was functioning according to God’s revelations.
He explained, “I’m saying I was sent by God to make things right in what is called kingship and leadership and to show how the past, our history, was.
“My wife and I wanted to honour an event. It’s a great event. And that day when we were about to go, it was revealed to me: ‘Look at your side’ and I looked at my side and saw my wife.
“And it was said: ‘Look at her head; find a crown that you are not wearing and wear on her head the crown.
“That was how I gave her the crown. When God reveals something, I can’t refuse, I just have to do it, the same way Abraham was told to take his son, when he was already over 100 years old.
“Yes and also when I put the crown, God revealed to me that our progenitor normally crowned his own wife.”

IBADAN RESIDENTS CLIMB ROOFTOPS, ERECT MAKESHIFT BRIDGES TO ESCAPE MENACING FLOOD (PHOTO)
source: http://www.eyesoflagos.com/2017/06/ibadan-residents-climb-rooftops-erect.html

Residents of Ibadan, Oyo State, have taken to rooftops and other escape routes in order to stay safe from rampaging floods that have sacked certain parts of the city.


Houses, worship houses and vehicles were submerged after a downpour caused flooding in many parts of Ibadan, Oyo State, on Tuesday.

The rain began in some areas on Monday evening and continued until early morning of Tuesday.

In other parts of the city, the rain began in the middle of the night and ceased around 9am on Tuesday.

Most of the affected areas are located close to river banks.

They included Orogun, Akinyele, Onipepeye on Old Ife road, Dandaru junction on Mokola/UCH road and Olodo.

Our correspondent who visited some of the flooded areas observed that many residents were trapped in their homes because of the flooding.

While many of them erected makeshift elevated platforms in front of their homes, many residents took refuge on rooftops and higher floors of their houses.

In Orogun, a church building was submerged in the water and though the Nigeria Security and Civil Defence Corps rescue team attempted to bring those trapped in the building to safety, they opted to wait on an elevated platform until the water subsides.

At Onipepeye area on Old Ife road, many houses were affected, while several cars swept away from where they were parked.

An unconfirmed report said a commercial motorcyclist was swept away early in the morning as he tried to ride across the flooding.

Some owners of affected houses blamed residents who dump refuse into the rivers and streams for the floods.

They called on the Oyo State Government to enforce strict penalties on environmental offenders.

Victims also blamed the government for sacking private waste management companies without providing an alternative arrangement for proper waste management.

The Commissioner for the Environment and Water Resources, Adisa Isola, told our correspondent that government made enough efforts to avert the incident; and blamed those who built houses and shops on water channels without adhering to setback rule.



“It is not true that waste management failure was responsible for the flooding. As a matter of fact, more people are complying with environmental laws in the state now.

“We started preparing for this in December 2016 through a World Bank-assisted project.

“Fourteen rivers and streams were dredged and this year, we have dredged 36 streams and rivers.

“This cannot be repeated every year because it is just a palliative measure. That is why we are working on three master plans for Ibadan that will take care of this issue.

“The attitude of our people was responsible for this flooding. They have refused to obey the setback rules but instead, they built houses on river channels. It put pressure on the drainage systems.”


Public Relations Officer of the Oyo State Command of the NSCDC, Oluwole Olusegun, told our correspondent that a rescue team led by the state commandant, John Adewoye, rescued many people who were trapped in the flooding.

He said the incident was caused by some rivers that overflowed their boundaries.

ACCIDENT IN IKEJA LEAVES PASSENGERS WOUNDED (PHOTOS)
source: http://www.eyesoflagos.com/2017/06/accident-in-ikeja-leaves-passengers.html


At about 10.30am this morning shortly after the rain stopped, there was a serious accident at Allen Avenue in Ikeja.



The Nissan car in the picture while on top speed was said to have hit a commercial bus popularly known as danfo from the back. It was reported that the driver who was a learner lost control of his break.


The passengers sitting behind were said to have sustained major injuries. The lagos state emergency ambulance responded swiftly and took away some of the wounded victims.

See photos below:

FG TO ESTABLISH WASTE MANAGEMENT PLANT IN BENUE – MINISTER
source: http://www.eyesoflagos.com/2017/06/fg-to-establish-waste-management-plant.html


The Federal Government said on Monday that it would establish a waste management pilot plant in Benue.
The Minister of Science and Technology, Dr, Ogbonnaya Onu said this when he launched the “National Waste-to-Wealth Programme’’ in the North Central zone.
Onu said that the plant would be used to effectively manage waste product in the zone.
He said that Benue with its rich natural and agricultural resources made the state the choice location for the establishment of the waste management pilot plant.
The minister said that it would serve as model for other states in the zone.
“It is therefore imperative that the waste management sector be rehabilitated and equipped with technology driven concepts and techniques that are environmentally safe to help explore and extract the opportunities hidden within waste.
“The pilot plant when installed will enable us convert our waste to valuable economic goods and services and help stimulate national consciousness to empower science and technology as an important instrument for national rebirth, sustainable development and enduring prosperity,’’ he said.
Represented by the Director, Science and Technology Education, Mr, Udon Ekang Onu said that the project, when completed would to address unemployment, poverty and crime through its numerous empowerment benefits.
He said that the plant would also create jobs in various sectors of waste management for both women and youths as well as the establishment of SMEs in the zone.
Onu ,said that government would soon commence the project in the other states in the zone for total cleansing and development for creation of employment and reduction of criminality.
“We are confident that every Nigerian, regardless of ethnic origin, religious persuasion or status in the society has a right to live a decent life in a society with government he or she can trust in the pursuit of enduring happiness.
“The waste-to-wealth programme, I believe will make the difference in our search for a new Nigeria.
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“A Nigerian that will deploy science and technology to feed her citizens, restore her self-confidence and improve her capacity for export trade, export earnings, and strengthen our currency,’’ he said.
Gov. Samuel Ortom commended the Federal Government for fulfilling the APC campaign promises to Benue people in the areas of creating wealth and jobs-


That the project would reduce crime, environmental degradation and pollution in the state.
He assured that the Benue government would support all Federal Government projects in the state.
Earlier, the Benue Commissioner for Education, Science and Technology, Prof. Dennis Ityavyar described science as very powerful in providing solutions to environmental challenges.


Ityavyar said that the “key challenges of our time in this country is the management of waste. In other countries waste is wealth.’’
He said that the state government was committed to the project hence it approved a befitting site on the Naka Road in Makurdi for its site. (NAN)

AMCON SAYS DEBTORS ARE ECONOMIC SABOTEURS
source: http://www.eyesoflagos.com/2017/06/amcon-says-debtors-are-economic.html

The Asset Management Corporation of Nigeria (AMCON) has described debtors of the corporation as economic saboteurs and should be made to fulfill their obligations for economic growth.
The corporation described as unacceptable the way economy was `bleeding’ while the debts owed it by 350 Nigerians would be enough to fund the deficit in the 2017 budget.
The Managing Director of the corporation, Mr Ahmed Kuru said that henceforth the corporation would move hard on such debtors with a view to freeing some money for the economy to grow.
Kuru spoke on Monday in Enugu during a retreat between AMCON and members of the House of Representatives Committee on Banking and Currency.
He said that the obligors owed the corporation to the tune of N2.5 trillion, adding that the prevailing situation had hampered business models in the country.
He said that it was more intriguing that the debtors had sued in various courts across the country either by disputing the debt or claiming damages against AMCON.
“Our recent assessment of obligors identified 350 accounts that represent about 80 per cent of AMCON’s current exposure of N2.5 trillion as at Dec. 31, 2016.
“Consequently, we have repositioned our debt recovery approach to strengthen legal and credit restructuring units to collaborate on the aforementioned accounts termed defaulters,” he said.
He said that the corporation was established in 2010 to intervene in the banking sector to maintain economic and social stability in Nigeria due to the unprecedented rise in nonperforming loans.
“AMCON acquired over 13, 000 of such loans worth N3.7 trillion from 22 banks and injected N2.2 trillion as financial accommodation to 10 banks in order to prevent systemic failure.
“This intervention helped stabilise the financial system as about N3.66 trillion of depositors’ funds and interbank takings were protected and approximately 14,000 jobs were saved,” he said.
Kuru said that AMCON had so far recovered N716.1 billion from obligors of which cash and assets accounted for 45 per cent and 55 per cent respectively.
He called for legislative intervention to enable the corporation overcome the bottlenecks militating against debt recovery.
In an opening remark, the Chairman, House Committee on Banking and Currency, Mr Jones Onyereri said such retreats fell within the legislative oversight ambit of the committee.
Onyereri said that the exercise enabled the National Assembly to be duly informed on how to straighten the operational efficiency of the corporation through legislative instruments.
He said that AMCON was created to assist the Nigerian financial sector to achieve stability by buying toxic assets of Eligible Financial Institutions.
“I find it troubling that while some of these obligors frustrate AMCON recovery efforts by exploiting the court system, they continue to do business with the Federal Government,“ he said.
Onyereri assured that ideas reached at the close of the exercise would receive the support of the committee with a view to amending AMCON Act for greater efficiency.


In a presentation, the AMCON General Manager, Credits, Mr Joshua Ikioda said it was unfortunate that 350 people were holding the country to ransom.


Ikioda said that the N2.5 trillion owed by the 350 obligors was enough to fund the 2017 budget deficit.
“We have a budget gap of N2 trillion while 350 Nigerians are owing us more than that. The Federal Government will have no need to borrow in order to finance part of the budget if they pay the debts,” he said.
He said that it was unacceptable that a few people would mortgage the future of the country, adding that everything would be done to get the obligors pay the debts.


“The challenge now is for Nigerians to see the benefit in getting a loan and paying. If nothing is done to the people owing us we might be indirectly passing a wrong message to younger generations. This is a national call,” Ikioda said.
Gov. Ifeanyi Ugwuanyi of Enugu State, while declaring open programe, called for efficient debt control and recovery system.
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The theme of the retreat is: “Enhancing Debt Recovery Efforts as a Tool for Growing the Nation’s Economy’’. (NAN)

CBN WORKING OUT MODALITIES TO REDUCE INTEREST RATE FOR MSMES
source: http://www.eyesoflagos.com/2017/06/cbn-working-out-modalities-to-reduce.html

The Central Bank of Nigeria has said it is working on adjusting conditions for lending to micro, small and medium enterprises (MSMEs) in the country.
This followed calls by operators in the real sector, agencies and Nigerian lawmakers for a reduction in interest rates, particularly for MSMEs
Lending rates in the country currently hover around 28 and 30 per cent, making the cost of finance high for companies, especially small businesses.
Rising from the Bankers Committee meeting last week, the CBN and chief executives of banks said they plan to de-risk SMEs so as to make it easier to lend to them.
Acting director, corporate communications of the CBN, Isaac Okoroafor, told journalists after the meeting in Lagos that there was a consensus to look into ways to bring down interest rate “as a complimentary measure to bring about prosperity, especially through the SME and agriculture.
“This would involve finding ways of de-risking SMEs, because people argue that SMEs are too risky to lend to and so the bankers committee is working in collaboration with the CBN to ensure that that segment of business is de-risked by way of risk sharing and trying to tweak some of the conditions even as the CBN works to ensure that the macroeconomic impediments to low interest rate are addressed over time”, he added.
The Senate recently met with the CBN on the need to ensure that lending rates is brought down so as to save the country’s economy.
At a round-table between the Senate and interest groups in the country’s financial and business sectors in Abuja, the Senate President, Bukola Saraki, frowned at the decision to keep lending rate unchanged, saying it was stifling businesses.

“The economy will not grow despite the current efforts by the federal government to revive it, if the interest rates charged by banks remained high,” the Senate President said, noting that despite government’s new initiatives to boost growth in the economy, Nigerians were still concerned about the impossible interest rate regime businesses were facing to survive.
The CBN, the regulatory authority, has continued to insist that it cannot reduce interest rate in the country which is currently at between 25 and 30 per cent, to avoid worsening the inflationary pressure on the economy.
Saraki however noted that “it is inconceivable that businesses anywhere can survive on a 25 to 30 per cent interest rate regime.


“How can investors anywhere survive on these rates? How can they create jobs and make returns on their investment? But, this is the situation our businesses currently live with”, he queried.
During the last Monetary Policy Committee (MPC) meeting, the CBN left the benchmark lending rate, also known as Monetary Policy Rate (MPR), unchanged for the seventh successive time at 14 per cent.
The President of the Nigeria Employers Consultative Association (NECA), Mr Larry Ettah, had at the weekend also joined in the call for a lower interest rate, noting that one crucial step towards revitalising the economy was by bringing down interest rate.
Stating that interventions will not be enough to address the financing challenges of the real sector, he said, “When textile industry or other sectors have problems, CBN intervenes. When you open many windows, you have to ask yourself, ‘why not open a door?”

FAYOSE’S PRESIDENTIAL AMBITION, A PIPE DREAM – APC
source: http://www.eyesoflagos.com/2017/06/fayoses-presidential-ambition-pipe.html

The All Progressives Congress (APC) in Ekiti State has described the latest declaration by the Governor Ayodele Fayose to contest the 2019 presidential election as a pipe dream targeted at diverting the attention of Ekiti people from his alleged fraudulent administration.
The party alleged that, his presidential ambition which is coming, after earlier announcing to re-contest the governorship election to complete the remaining six months of his aborted first term was rooted in the governor’s refusal to pay workers’ salary.
Fayose had last week declared to win presidential election in the 2019 general elections, saying that he had all it takes as a man of the people to become Nigeria’s President in 2019.
The party publicity secretary in the state, Taiwo Olatunbosun, in statement on Sunday noted that with the declaration, it was clear why the governor allegedly put the state into N42b debts to pay salary, allowances, pensions and gratuity, including severance package of former political office holders, but allegedly diverted the money to projects that had no bearing to the welfare of Ekiti people.
He said: “Having known Fayose as a political merchant who always contests elections without spending his personal money, we now know the reason why he has borrowed N42b to finance projects which costs have spiraled without much progress in those projects.
“Fayose borrowed two tranches of bailout comprising N9.6b and N8.8b before taking a monthly N1.3b Budget Support Facility for nine months to pay salary but he diverted all to projects awarded to his friends’ companies in which he has interest to enable him fund his presidential campaign.
“Fayose has no other business and cannot survive outside politics and so has chosen Ekiti State as his trading post to make money with the alleged connivance of his Ibadan friends.
“Even though we know that Fayose’s presidential ambition is a pipe dream to further divert the attention of Ekiti people from his fraudulent administration after earlier announcing to re-contest the governorship election to complete the six months he lost in his aborted first term, as a political merchant, he has started day-dreaming over a presidential ambition to gain attention and distract Ekiti people from the misapplication of public funds for private advantage

WHY FG IS HOLDING DASUKI, EL-ZAKZAKY – LAI MOHAMMED
source: http://www.eyesoflagos.com/2017/06/why-fg-is-holding-dasuki-el-zakzaky-lai.html


The minister of Information and Communications, Alhaji Lai Mohammed, has advanced reasons why the federal government will not release the former national security adviser, Colonel Sambo Dansuki and leader if the Islamic Movement of Nigeria, Sheik Ibrahim El-Zakzaky.
Mohammed said releasing Dasuki and El-Zakzaky from detention would constitute serious security risk to the country.
The minister declared that ‘‘the government does not have any official policy to marginalise any part of the country against the other’’ and warned that those beating war of drums would not escape it should war eventually break out in the country.”
Eyes Of Lagos gathered that, Mohammed spoke with newsmen in his hometown, Oro, Kwara at the side line of his 10th annual Ramadan lecture .
He said the federal government has information at its disposal which could not be divulge because of national security that releasing the duo without extracting necessary information from them would have negative implications on national security.
‘‘At every point in time, a government will make a hard decision between your personal liberty and national security. Now in the wake of 911, the US came with regulation that breached the personal rights of Americans and all of us because of national security,” he added.
‘‘In the case of both of both El- Zakky and Dansuki, we are also talking about national security’’.
Mohammed said the former national security adviser had refused to account for ‘‘1.2 billion dollars transactions he made in one day’’ ,an action he said, calls for serious security concerns as such huge amount could be used to ‘‘destabilise the whole country’’ .
‘‘This is an individual who make 1.2 billion dollars transactions in one day and up till today he has refused to tell government where the money went to and who he has given the money and your are saying we should release him .
He said since the government would take responsibility for its actions ,it cannot guarantee whether the former national security adviser will still stay in the country if granted bail.
On those agitating for a divisive Nigeria and promoting hate speeches, the minister cautioned ‘‘those ‘‘beating the war of drums God forbid if the war happens, they will not escape it’’
He said hate speeches continued to gain space in the media because ‘‘comments, personal opinions are now taking the place of facts’’ regretting that some Nigerians swallow what was being published on social media ‘‘hook, line and sinkers”.

FG WILL DEAL DECISIVELY WITH HATE SPEECHES, VIOLENT ACTS, OSINBAJO WARNS
source: http://www.eyesoflagos.com/2017/06/fg-will-deal-decisively-with-hate.html

The Acting President on Tuesday began consultations with leaders of thought from the North and warned that the government would deal decisively with persons who make hate speeches or attempt to disrupt the peace of the country.
The meeting was sequel to the calls for secession by youth from different ethnic groups in the country resulting in some asking others to vacate their enclave before Oct. 1.
The Acting President noted that that was not what the country desired at this time and urged those involved to desist or face the full weight of law.
“This is not the time to retreat behind ethnic climes.
“Moments like this are not for isolating ourselves and I want to urge all of us who are here and of course the entire Nigerian populace that it is a time for us to come together and to work together.
“As a government, we are determined to ensure the unity of the country along the lines of our constitution.
“I want to say that hate or divisive speech, or divisive behavior, where it is illegal, will be met with the full force of the law.
“And I want to ensure that there is no doubt of the resolve of government to ensure that no one will be allowed to get away with making speeches that can cause division, or that can cause violence.
“Especially because when we make these kinds of pronouncements and we do things that can cause violence or disruption of lives and property, those who make those speeches are no longer in control.
“I want to just emphasise that government will take very seriously any attempts to cause violence or to disrupt the peace of this country,’’ he said.
The Acting President said that the warning was very important because “we cannot control violence once it begins.’’
The Acting President recalled that in the past few weeks there were louder noises from the youth population which the leaders should not condone.
According to him there are people who may deride such speeches and others who may say that the hate speeches which show intolerance and promote division are not important and should be ignored.
Osinbajo, however, noted that it was important that the leaders should address the issues quickly bearing in mind their exposure to the history of the country.
He said it was important that the leaders gave some direction to the youth as to how best they should express their grievances.
He said that the country’s defining strength was the constitutional provision which called the country a sovereign nation under God.
According to him there is no homogenous society in any part of the country due to the residence of people from other parts on the country in other places.
He said that every form of hate speech of stone thrown in the market would hit people that were not intended.
He said that God would help the country to be a place the people would be proud of adding that it was a duty to the next generation to hand over to them a peaceful and prosperous nation