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See the top 10 stories for Monday, June 27, 2016

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PH MARKET TUSSLE: COUNCIL SUES FOR PEACE

Port Harcourt city local government, Rivers state, has called for restraint and peace, in the ensuing legal tussle between two factions at the Rumuoji, Mile 1market.

Making the call at the weekend, the mayor of Port Harcourt city council,  Hon. Samuel Soni Ejekwu disclosed that the leadership tussle was between the factions led by the out gone chairman, one Chief Georgewill and the other led by the immediate past chairman, Deacon Kenneth Eze. It was confirmed by Mrs. Blessing Mbakpone, that the issue was already in the court for further deliberations.

 

RICE IMPORTATION IN NIGERIA RIDICULOUS – SHINICHI

President of Japan International Cooperation Agency (JICA), Prof. Shinichi Kitaoka, has described the importation of rice by Nigeria as ‘ridiculous’, given its natural endowment for agricultural revolution in Africa.

Speaking with journalists on his first visit, he said the country has huge agriculture potentials which when utilized, will triple its export of rice to other countries. He said JICA has executed project worth over N600 billion since it came into Nigeria. He stressed the need for stability in the country as one of the key to achieve Nigeria’s development.

 

NEITI, EFCC GO AFTER OIL FIRMS OVER UNREMITTED $11 BILLION

The Economic and Financial Crimes Commission (EFCC) will soon embark on probe of erring oil firms in Nigeria over unremitted oil revenue to the Federal Government. Nigeria Extraction Industries Transparency Initiative (NEITI) and the EFCC have formed alliance to study the reports and identify areas where financial crimes have been committed against the nation.

The executive secretary, NEITI, Waziri Adio expressed the desire of NEITI to continue to put in unwavering efforts towards ensuring national development through openness and accountability in the exploitation of the common national resources.

 

NSE FACILITATES N11 TRILLION SECURITIES INVESTMENT IN 10 YEARS

The Nigerian Stock Exchange (NSE) has facilitated the investment of N11.094 trillion in the nation’s capital market in the last 10 years. According to the data obtained over the weekend, it was revealed that 2007, 2008, 2013 and 2014 accounted for the highest investment.

According to the Chief Executive Officer, Mr. Oscar Onyema, he said, 2015 began with the continued depreciation of the naira against the dollar and uncertainty around the direction of economic policies, which fueled an already prevalent bearish sentiment in the Nigerian capital markets, as a result of sustained uncertainty in the country led to postponed decision making by business leaders in anticipation of clearer direction on economic policies, thus slowing economic activity.

 

BAYELSA RESTRUCTURES N50 BILLION BOND REPAYMENT

The Bayelsa State government said it has approved the restructuring of repayment of the N50 billion bond secured by the previous administration to 2019, instead of the 2017 it was initially scheduled to end.

The state commissioner for information, Mr. Jonathan Obuebite, noted that it was necessary to reschedule the huge debt because the state was paying about N1.2 billion monthly to offset it, as a result eating deep into the monthly revenue. The government also frowned on the frequent vandalism of public infrastructure and urged those involve to desist from stealing government’s properties.

 

AMCON TAKES OVER ASSETS OF AFRIJET AIRLINES

Assets Management Corporation of Nigeria (AMCON) has taken over the assets of Afrijet Airlines limited, owned by Chief Vitalis Ibe,  over an unpaid debt of almost N10 billion. According to a statement issued by Head Corporate Communications, AMCON, Mr. Jude Nwauzor said the take over was based on an interim injunction granted against the airline by Justice Chuka Obiozor of the Federal High Court, Lagos division.

However, for the purpose of satisfying the indebtedness, the court restrained Ibe and his companies from operating or tempering with the funds in his bank accounts under whatever name in any bank or financial institution in Nigeria.

 

BAUCHI UNCOVERS 6, 065 GHOST WORKERS ON PAYROLL

The Bauchi state government during an interactive session with members of the correspondents’ Chapel, Bauchi state Council, at government house, Bauchi, on Sunday said it had discovered 6,065 ghost workers on its payroll. The discovery followed the workers’ verification the state government compelled all civil servants to do since January this year.

The state governor, Mohammed Abubakar said the state government was already using administrative rule to investigate workers involved in the sabotage, saying those found guilty would be dealt with according to the law. He further stated that his government would embark on yet another round of workers’ verification to enable it to access the Federal Government’s budget support programme. He explained that the state government would not stop the payment of salaries during the verification exercise.

 

WE CAN’T MONITOR SHERIFF’S SHOW – INEC

The Independent National Electoral Commission (INEC) yesterday said it would not monitor Wednesday’s gubernatorial primary elections being organized by the Ali Modu Sheriff-led faction of the PDP. The deputy director public affairs at INEC, Nick Dazang noted that section 85 of the Electoral Act provides that any party that wishes to hold a convention or primaries shall serve the commission a 21-day notice.

However, Dazang recalled that the timetable and schedule of activities for the Edo governorship provides that primaries are to take place between 2nd June and 4th July. By this design, the Sheriff’s faction have fallen short of the requirement for a 21-day notice to INEC.

 

SARAKI URGES COURT TO QUASH CASE AGAINST HIM, EKWEREMADU, OTHERS

Counsel to the Senate President, Ahmed Raji (SAN), has urged the court to quash the charges against Senate President Bukola Saraki, Deputy Senate President, Ike Ekweremadu and two others. There were indications that trial judge, Justice Yusuf Halilu may entertain Saraki’s preliminary objection after the charges have been read and the plea of the four defendants taken.

It was revealed by a top source that the Senate President was scheduled for Lesser Hajj on Friday but he could not perform his religious obligations because of the trial. However, the outcome of today’s session at the court will determine whether or not the Senate President can still perform the Lesser Hajj, because in the last 10 years, he has not missed his religious obligation.

 

DELTA URGES RIVERINE COMMUNITIES TO BRACE UP FOR FLOOD

Commissioner Bureau for special duties, Delta state, Hon. Chika Ossai has urged Deltans living in the riverine communities to brace up for flood to avoid loss of lives and property this rainy season. Hon. Ossai, in Asaba, said the warning had become necessary to avoid casualties as a result of flood.

The commissioner disclosed that last year’s flood could have been disastrous if not for the awareness that people made to be prepared. He said, there is nothing wrong in taking precautionary measures and imbibe good habits towards their environment. He further stated that,  “While we wait for government to construct drains, we should learn to maintain existing ones”.

 

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