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Showing posts from April 18, 2016

Fayose blasts Odigie-Oyegun, Oni, others over Chinese Loan

Ekiti State Gover­nor, Ayodele Fay­ose, has described the All Progressives Congress (APC) Nation­al Chairman, Chief John Odigie-Oyegun, the party’s Deputy National Chairman, Chief Segun Oni and other critics of his letter to Chinese Government to stop the $2 billion loan sought by the Federal Government as political hypocrites. Odigie-Oyegun, Oni and others had criticised Fayose for writing the Chinese Government to stop the loan and other scathing remarks on President Muhammadu Buhari. Reacting to their com­ments on Monday, Fay­ose described President Buhari’s non-signing of any direct loan agree­ment with the Chinese Government during his visit as a vindication of his position. He maintained that what Nigeria needs is the collaboration of the government of China in the area of technol­ogy transfer, rather than granting loan which will be mismanaged under the guise of building in­frastructure. In a statement issued in Ado Ekiti on Monday by his Special Assistant on Public Comm...

Buhari Turns to Taxman as Nigeria Gets Weaned From Petrodollars

Crude tumbled the most in two months and currencies of oil-exporting nations slumped after talks between major producers ended in Doha without any agreement on limiting output. Asian stocks retreated from a four-month high as demand for haven assets boosted the yen and Treasuries. West Texas Intermediate plunged as much as 6.8 percent, while Canada’s dollar posted the biggest losses among major currencies. Japan’s yen climbed toward a 17-month high after Group of 20 finance ministers signaled opposition to curbing its strength. The MSCI Asia Pacific Index of shares fell for the first time in nine days as futures on U.S. and European benchmark stock gauges declined. An exchange-traded fund tracking Brazil’s equities rallied as President Dilma Rousseff lost a key impeachment vote. Global equities have moved largely in tandem with crude this year and both rebounded from multi-year lows over the past two months amid prospects oil-producing nations including Saudi Arabia and Russia woul...

New Niger Delta Militant Group Dares Buhari, Vows To Cripple Nigeria's Economy

The Niger Delta Avengers, a new militant group in the oil-rich Niger Delta region,  has threatened to make the country's economy worse by acts of sabotage, particularly in the oil sector. The threat, made via a statement issued by the group, is a response to comments made by President Muhammadu Buhari during his visit to China.  Niger Delta militants Tife Owolabi While in China, Buhari had said that oil saboteurs will be treated harshly like Boko Haram terrorists, a comment the group considers a denigration of the Niger Delta struggle and an indication that the Federal Government considers oil more important than the lives of people of the Niger Delta region. "The recent proclamation of the Federal Government to bombard the people of the Niger Delta, as stated in Beijing, China,  is a clear indicator that President Buhari and his Northern brothers-led government scales the oil in the Niger Delta far more important than the lives of the Niger Deltans," the group said. ...

#Budget2016: LIST OF DISTORTIONS FOUND IN 2016 BUDGET, LAGOS-CALABAR RAIL, 2ND NIGER BRIDGE MAKE LIST

As controversy continues to dog the budget transmitted by the National Assembly to the Presidency for assent, indications emerged, last night, that President Muhammadu Buhari was still furious with the high level of distortions inflicted on his estimates by the lawmakers. On new distortions found in the budget, the President was said to be considering measures to deal with those who masterminded the budget infractions, thereby drawing back the hands of his administration. Project  —   Distortion Lagos-Calabar Rail — Removed Lagos-Ibadan Exp. Rd — Reduced by N24bn Second Niger Bridge — Slashed by N3.9 bn Odukpani-Itu-I/Ekpene Rd — Reduced by N4.3bn Benin-Sagamu Rd — Reduced by N800m Itakpe-Warri Signalling — Cut by N302.9m Calabar-Ikom-Obudu Rail — N267m expunged Kano-Damaturu-Ngala Rail — N260m cut Source: VANGUARD

Governor Bello of Kogi State denies donating N70m at Aisha Buhari's book launch

Kogi State Governor, Yahaya Bello has debunked reports that he donated N70m at the book launch of the first lady, Aisha Buhari last week. Bello’s denial was contained in a statement by his Chief Press Secretary, Kingsley Fanwo, on Sunday. The statement reads, “The book launch was organised by the nation’s first lady to garner support for the families of the abducted Chibok girls which was attended by Governor Bello to lend support to the traumatised families of the girls. As a political leader and a parent, Governor Bello is touched by the plight of the girls and their families, hence the will to identify with the project. “The book launch was televised to the whole world and no one announced what anyone donated. Governor Bello did not donate N70m as insinuated by the people who are turning opposition politics to a comical adventure.” The governor’s Chief Press Secretary noted that contrary to reports, he never approached any bank for a loan. Stating that Bello had paid two mo...

#DaskiGate: PDP secretary offers to return Dasuki loot

National Secretary of the Peoples Democratic Party’s (PDP’s), Prof. Wale Oladipo has appealed to Vice President Yemi Osinbajo (SAN) to be allowed to refund the N75 million he received from ex-National Security Adviser (NSA) Mohammed Sambo Dasuki. Oladipo’s request is contained in a letter to the Vice President in which he sought to be excluded from prosecution. Prominent Nigerians, including Raymond Dokpesi and ex-Director of Nigeria National Petroleum Corporation (NNPC) Aminu Baba-Kusa, were charged to court for allegedly diverting billions of naira belonging to the Federal Government under the guise of fighting Boko Haram. The existence of the letter by Oladipo was confirmed in the suit he filed at the Federal High Court, Abuja, through his lawyer Babs Akinwumi. He is seeking to, among others, restrain the attorney general of the federation (AGF) and four others from arresting, detaining and prosecuting him. Oladipo also seeks to restrain the Economic and Financial Crimes C...

Purported Amendment Of The CCB&T & ACJA Acts –Senator Babajide Omoworare

Instead of making uninformed contribution on Senate Bill 248 – A Bill for an Act to Amend the Code of Conduct Bureau and Tribunal Act Cap. C15, Laws of the Federation of Nigeria 2004 and for other Related Matters proposed by Senator Peter Nwabuoshi; I have decided to have a deep breath and have a second look at the laws and other ancillary matters. Let me say ab initio without mincing words that I oppose the Bill in toto on points of law and I am averse to same for moral reasons, having taken more than a cursory look at the Constitution, the Code of Conduct Bureau and Tribunal Act, the Bill in question and the Lead Debate of Senator Nwabuoshi. It is important to note that another Bill is pending before the Senate: Senate Bill 249 – A Bill for an Act to Amend the Administration of Criminal Justice Act, 2015; and for Other Related Matters by Senator Isah Misau. The purport of the amendment is to amend Section thereof and ensure that the ACJA does not apply not only to Court Martial...