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President Buhari Signs ‘Not Too Young To Run’ Bill

[dropcap]P[/dropcap]resident Muhammadu Buhari has signed the ‘Not Too Young To Run’ Bill into law, Channels Tv is reporting. History was made on Thursday when President Buhari assented to the bill at the Council Chambers of the Presidential Villa in Abuja, the nation’s capital.

The Personal Assistant to the President on New Media, Bashir Ahmed, posted two videos on Twitter which shows President Buhari signing the bill into law.Addressing a gathering of youths who witnessed the signing, the President said, “Your focus and contributions have now successfully increased the quality and maturity of Nigerian democracy and expanded the playing field for youth participation in politics.

“You, the young people of Nigeria, are now set to leave your mark on the political space, just as you have done over the decades in entrepreneurship, sports, art, media entertainment, technology, and several other fields.”

President Buhari had promised to assent to the bill while addressing the nation on Tuesday in a live broadcast in Abuja.

“In (a) few days to come, I will be joined by many promising young Nigerians to sign into law the ‘Not Too Young To Run’ bill,” he had said in his Democracy Day’s speech.

Both Senate and the House of Representatives had passed the bill in 2017.

It later received the constitutionally required approval of two-thirds of National Assembly, leaving the final step of presidential assent.‘Not Too Young To Run’ bill seeks a reduction in the age limit for presidential candidates from 40 to 35, as well as state governors and senators from 35 to 30.

Following the President’s approval, the minimum age for national and state assembly members will now be 25.

The primary aim of the bill is to increase the participation of young people in politics, as more than half of the nation’s population is below age 30.

CBN Governor Storms First Bank, UBA And Zenith Banks To Monitor Forex Sales

[dropcap]T[/dropcap]he Central Bank of Nigeria (CBN) Governor,Mr Godwin Emefiele,  on Monday paid a surprised visit to First Bank, UBA and Zenith banks offices in Abuja to inspect sales of foreign currencies to customers.He said that the visit was to ascertain banks compliance with the new directive by the CBN to sell foreign currencies to all customers over-the-counter whether the customer had an account or not.

“The essence of us being here is to make sure that the banks are able to service not just their customers, but also those who are not their customers, particularly those who want to travel outside the country.“I want to seize this opportunity to let everybody know that there is dollar availability. If you want to travel, go to a bank. It doesn’t have to be your bank.

“Whether you have an account or not, you should be attended to.

“Just work into any bank with your travel document, show your Visa and air ticket. They will ask for your BVN and once they verify it, they should attend to you on the spot.“Nobody should go home and come back because he or she wants to buy foreign exchange. You should be attended to immediately and that’s what over-the-counter means,’’ he said.

Emefiele said that all the banks were well stocked and whoever want to make foreign exchange transaction should look for the “BTA/PTA counter’’ or “Bureau de Change counter’’ located in all banks’ branches.He also said that all banks were expected to display daily foreign exchange rates for major currencies, so that the customer would be aware of how much he or she is paying.

“The essence of this inspection is to say that there is ample liquidity for any eligible traveler and nobody should fall into the temptation of buying BTA or PTA from a bank at more than N360 to a dollar.

“The banks are entitled to their margin, and their margin has already been built into the price so you don’t have to pay any additional charge,’’ he said.

According to Emefiele, the CBN Examiners will continue to do on-the-spot assessments at banks to find out and be sure that people who are traveling get attended to Over-the-Counter.

Emefiele visited the First Bank branch in Central Area, UBA branch in Area 3 and Zenith Bank in Maitama, Abuja. He asked customers of the three banks their experiences in accessing foreign exchange, if they were being attended to promptly or not.

He also spoke with the Head Branch Service, First Bank, Abuja, Ms Zainab Darlington, Zenith Bank’s Executive Director, North, Mr Umar Ahmed and the Assistant General Manager, UBA, Mrs Jennifer Illoabache.

They all confirmed ample supply of foreign exchange from the CBN to meet all eligible demand for foreign exchange.

The News Agency of Nigeria (NAN) reports that Nigerians traveling out of the country for personal reasons, are entitled to access a maximum of 4,000 dollars every quarter, while those going for business, 5,000 dollars.

Meanwhile, the Naira on Monday exchanged for N366 to a dollar at the Bureau de Change segment, showing slight improvement from the N367 it closed on Friday.

Comptroller Musa dismisses benchmark claims on general cargo clearance

Comptroller Musa Baba Abdullahi

[dropcap]T[/dropcap]he Tin Can Island Port of Nigeria Customs Service (NCS) Comptroller Abdullahi Musa has denied rumors of benchmarking of general cargo at the port, and that no officer in uniform is allowed to clear cargo at the port command.

The Customs Controller cleared the issue while addressing members of the Association of Nigerian Licensed Customs Agents (ANLCA) led by the Acting National President and the National Vice President Prince Dr Kayode Farinto during a courtesy visit Thursday last week.

The Controller according to the Publicity Secretary of ANLCA, Mr Joe Sanni explained that what was being termed as “benchmarking, is the technical application of the risk management tools to some cargoes that are suspicious in value, quantity and classification, which ultimately affects the final duty paid”.

The Customs Controller also explained that “these cargoes are then subjected to further interrogation and examination/inspection, to determine the actual duty to be paid”.

Comptroller Musa during the visit of the ANLCA chiefs appealed to members of the trading community to be compliant in their declarations, “as this is bound to improve the revenue accruing to the Nations purse, as well as guarantee trade facilitation”.

Musa said that part of his initiatives to ease cargo clearance in his port of command, “is the physical establishment of a one-stop shop Centre to resolve the issues of multiple alerts/disputes arising from the terminal, during examination.

“The Centre, named Dispute Resolution Centre(DRC0 is housed on the ground floor of the command, directly under the office of the Area Comptroller.

Musa also told the ANLCA Executive that the Tin Can Island command has also initiated a process “whereby cargo movements within the terminals will be monitored on a large screen mounted at the entrance to the Dispute Resolution Centre (DRC) / Committee, to be replicated at various points within the command, has officers from all units that may be raising alerts on cargoes, as members. The DRC will also incorporate Headquarters System Audit Alert, in order to ensure a quick resolution of issues arising from the examination of suspected cargoes.

“If such issues remain unresolved at the Committee (DRC) level, it is then taken before the CAC. Customs headquarters comes in, if the CAC is unable to resolve it”.

The Controller used the occasion of the visit to also deny the allegation that some customs officers were taking over the jobs of clearing agents.

This was emphatically dismissed by the CAC when the issue was raised. The Controller challenged anyone with useful information on such allegation to come to him in confidence for necessary action.

Meanwhile, a member of ANLCA, Onne chapter, Sir Adindu Amadi has been kidnapped.

He was kidnapped since May 19 near his residence

The Association said efforts are being made to secure his release and get him back to his family.

Court Convicts Ex-Taraba Governor, Nyame Of Fraud

Jolly Nyame, Taraba state former governor

[dropcap]T[/dropcap]he Federal Capital Territory High Court on Wednesday sentenced a former governor of Taraba State, Mr Jolly Nyame, to 14 years in prison without an option of fine. The court convicted Mr Nyame of criminal breach of trust in a case of N1.64 billion fraud preferred against him by the Economic and Financial Crimes Commission (EFCC).

Nyame, who was Taraba State governor between 1999 and 2007, was accused of criminally misappropriating the funds while he governed the state, Channels Tv reports. Delivering a judgement that lasted more than four hours on Wednesday, Justice Adebukola Banjoko found the former governor guilty in 27 out of 41 counts he was charged with.

The judge blamed Nyame for financial recklessness and brazen display of executive power without following due process.

According to the judegment, the former governor was jailed two years for misappropriation of government funds, seven years for receiving gratification, and five years for obtaining valuable government properties without consideration.

However, the jail terms are to run concurrently.

Report: EFCC Begins Probe Of $16bn Allegedly Spent On Power

[dropcap]T[/dropcap]he Economic and Financial Crimes Commission (EFCC) has started investigating the alleged $16 billion spent on power during the administration of former president Olusegun Obasanjo. On Tuesday, President Muhammadu Buhari had queried the expenditure on power during the Obasanjo administration.

The ex-president had subsequently replied by expressing his readiness for a probe. According to  The Nation, in a report sourced from TheCable, an EFCC team is already gathering facts that it would use to investigate the case. The newspaper said the agency may invite two ex-ministers, former top officials of the defunct Power Holding Company of Nigeria (PHCN), present and past officials of the Niger Delta Power Holding Company (NDPHC) and all the people recommended for investigation by a committee of the house of representatives.

“We are looking into all the allegations and issues surrounding the power projects. We will conduct a comprehensive and forensic probe to ascertain the true status of all the projects,”  the newspaper quoted a source as saying. “This investigation will actually ascertain how much has been spent so far.  We have many figures being bandied about as follows: $16 billion, $13.278 billion, $10.3 billion, $8.4 billion and $8.55 billion.

“This is not an investigation aimed at ex-President Olusegun Obasanjo or anybody. We have to step in to set the records straight.

“Already, a team is collating facts and figures on these projects as part of the preliminary level/ bend of the investigation. We will retrieve the report of the House of Representatives Committee which investigated the power projects.

“The House actually recommended 18 top former public officers, including two ex-ministers, for investigation by anti-graft agencies, especially EFCC and ICPC. Many salient issues were raised for investigation by the house committee, which was headed by Hon. Ndudi Elumelu.”

In 2008, the Elumelu committee said about $13 billion was spent on power between 1999 and 2007.

Delta Police Command Warns IPOB, Other Outlawed Group Against Illegal Protect

[dropcap]T[/dropcap]he Delta State Police Command on Friday warned the group, Indigenous People.of Biafra (IPOB) and any other outlawed group in the state against carrying out illegal protest in the state.The police says the warning was part of its deliberate resolve to ensure a violence-free Democracy Day in the state.

This is coming amid intelligence reports of threats by some outlawed groups such as IPOB to disrupt the peace and stability of Delta State, the Command’s spokesman, Mr. Andrew Aniamaka said in a statement issued on Friday.

The statement sternly warns members of the IPOB and other allied Pro-Biafra groups and their sympathizers to retrace their steps as it will not condone any form of ill motivated protests or agitations that will jeopardize the peace and progress of the state.

“The Command recalls that not too long ago the ill-advised activities of these outlawed groups resulted in so many deaths of the innocent, destruction of property, disruption of business activities, amongst others, and warns that the police and other security agencies will not fold their arms and watch persons or group of persons foment trouble that will disrupt the peace and order in the state. The Command has therefore already arrested and arraigned some IPOB members in court.

“The Command, while acknowledging that it is not unaware of the constitutional rights of law abiding citizens to embark on processions, picketing or other forms of protests, notes that these rights must be exercised within the confines of the law and must not be used to causeanarchy and mayhem in the state as has been done, and still being intended, by IPOB and others.

“The Command therefore enjoins all well-meaning Deltans to remain law-abiding and to report any suspicious movement of persons to the police and other security agencies even as it pledges to continually serve them better”.

Gov. Umahi vows never to castigate Buhari

[dropcap]G[/dropcap]ov. David Umahi of Ebonyi has vowed never to castigate President Muhammadu Buhari to prove that he was still in the Peoples Democratic Party (PDP). Umahi made the declaration on Saturday night in Abakaliki during a media chat and dinner he organised for journalists as part of the 2018 Democracy Day celebrations.

The governor noted that his decision was a matter of principles, stressing that Buhari remained his only boss. “I have left all those issues to political parties not because the president is doing everything right but because he is not God. “He might not be doing everything 100 per cent but it is not my duty to castigate my boss and will only face my duties.

“It is also not my duty to write petitions about the past administration in the state and I am focused towards my duties as child of God who has a calling and is committed,” he said.

The governor noted that corruption was not a party affair but an issue that has to do with the individual engaging in it. “The Bible says that with the fear of God, men depart from evil and without effective tackling of corruption, Nigeria will never develop.

“It is not an issue concerned with the PDP and if those who decamped from the party to the country’s ruling party says it is corrupt, then they have infected their new party with corruption,” he said.

He declared that his constant mention of opposition members in the state during solidarity rallies in his honour does not mean that he was threatened by their activities and antics.

“No member of the opposition can stand for election with me because they have no base in the state and are only deceiving the people.

“They are not working for the president as they deceitfully claim but are big minuses for the opposition party because most of them don’t own houses in the state.

“They boast of using the federal might to rig the 2019 elections but the youths have warned anyone planning to execute such act to write two things: the fake results and his will,” the governor said.

Umahi listed his administration’s development strides in education, health, human empowerment, infrastructure and security, among others, noting that Ebonyi would be Nigeria’s Dubai after his eight years tenure.

The News Agency of Nigeria (NAN) reports that journalists and individuals across the state and beyond asked questions on state and national issues.

Top government officials including the Secretary to the State Government, the Chief of Staff, legislators and some cabinet members, among others, were however locked out because of lateness.

But they were admitted into the venue after the interactive session.

KPMG: Manchester United Is Worth €3.25b, ‘Remains Most Valuable Club In Europe’

[dropcap]M[/dropcap]anchester United has again been named most valuable European football club, being worth about €3.25bn (£2.9bn) says business services group KPMG.

The English club tops KPMG’s study of top sides’ “enterprise value”, ahead of Real Madrid and Barcelona.

The study, based on the 2015-16 and 2016-17 seasons, studied profitability, broadcasting rights, popularity, sporting potential and stadium value.

Champions League finalists Liverpool are in eighth place in the rankings.

In the analysis of 32 major teams, Premier League clubs fill six of the top 10 places.

Andrea Sartori, KPMG’s global head of sports and the report’s author, said the overall value of the football industry had grown over the past year.

“Overall growth is driven by different factors, one of these being the increase of operating revenues of the top 32, at 8%,” he said.

“Eye-catching transfer deals and spiralling staff costs have not prevented such clubs from registering a striking upward trend, as the profits before taxes increased by some 17 times in comparison to the previous year.”

Top 10 European clubs by ‘enterprise value’

Manchester United – €3.255bn

Real Madrid – €2.92bn

Barcelona – €2.78bn

Bayern Munich – €2.55bn

Manchester City – €2.16bn

Arsenal – €2.10bn

Chelsea – €1.76bn

Liverpool – €1.58bn

Juventus – €1.30bn

Tottenham – €1.29bn

Source: KPMG

Mr Sartori added: “One of the reasons for this growth can be found in the significant influence exercised by English clubs, as well as the improved financial health of many mid-size clubs within the ranking, which also reflects compliance with the Uefa financial fair play regulation.”

As well as dominating the top 10, there were a further three English teams – West Ham United, Leicester City and Everton – in the top 20 places.

Meanwhile, SSC Napoli (17th placed) became the second most valuable club in Italy, behind Juventus and ahead of the Milan giants.

This year, 12 clubs were valued in excess of 1bn euros, two more than in 2017.

And six clubs reported an “enterprise value” above 2bn euros: three from the English Premier League, two from Spain, and one from Germany.

During the 2015-16 and 2016-17 seasons, Manchester United won the FA Cup, League Cup and Europa League, but have ended the recent campaign trophyless.

 By Bill Wilson Business reporter, BBC News

President Buhari Today May 27 is celebrating with the Nigerian Children on today’s Children’s day celebration.

[dropcap]H[/dropcap]e wrote a lengthy letter to show how important these group of Nigerian population are. This is the full letter of the president to the children.
“Today affords me another opportunity to re-affirm our Administration’s commitment to the protection of children, a day to reflect on our roles and responsibilities as Parents and Leaders towards our children, and also assessing how far we have fared in this regard.As you may recall, one of the cardinal objectives of this Administration is the provision of quality education to our children as a fundamental foundation of economic and social development.

In this regard, I am pleased to inform you that this Administration has recorded measurable success in the home grown school feeding programme as it has continued to expand.Our children are our future, and the initiatives that come from them give confidence that our country has a bright future.

I am always inspired and encouraged when I remember encounters I had with three of our young ones. When I was on medical vacation in 2017, three year old Maya Jammal recorded a prayer for my recovery, which went viral online.

Also, 10 year old Aisha Aliyu Gebbi wrote a personal letter to me, describing herself as my “biggest fan”.
Nicole Benson, then 12 years old, had contributed the sum of Five Thousand, Seven Hundred Naira and Eighty-Five kobo (N5,700.85) to my campaign in 2015. The money was all saved up from her lunch and pocket allowance. There are millions of such children nationwide.

I am very impressed by what our children have been able to do, and what the future holds for them. That is one reason why we are committed to the school feeding programme, to prepare a future generation of physically and intellectually robust children. At the last count, over 8.2 million children in 24 states of the Federation are being given free meals daily. This happens in 45,000 schools round the country.

I therefore call on all stakeholders to support this programme to ensure that all the 36 States of the Federation and FCT are covered. This will promote substantially higher enrolment levels in our schools.
Since its inception in May, 2015, this Administration has also focused attention on addressing issues of child protection, participation and survival. In 2015, the campaign to end violence against children was launched which was commemorated in 2016.

In November 2016, the Campaign to End Child Marriage was also launched to ensure that as many children as possible are able to fully enjoy their childhood and be protected from all the challenges associated with this phenomenon. These campaigns have been reinforced with sensitization campaigns in some States of the Federation.

The theme for this year’s celebration “Creating Safe Spaces for Children: Our Collective Responsibility” is an opportunity to promote the safety and security of our children. As a responsible Government, we are committed to ensuring that children are protected from violence and exploitation against them, and, that their environments are safe enough for them to pursue their educational attainments, discover their full potentials to grow into responsible citizens.
This Administration has made giant strides in the protection of the Rights of the Nigerian Child and as a result of such efforts, Nigeria has been declared a Pathfinding Country on Ending Violence Against Children. This I believe is a collective achievement and I urge us to continue to build on the present momentum to achieve the targets of the Sustainable Development Goals (SDGs).

In our efforts to protect our children from abuse, exploitation and trafficking as well as provide safe, non-violent inclusive and effective learning environment in our schools, this Administration has directed the management of all Federal Government Colleges and advised all state owned schools across the Country to provide adequate measures of safety and security of their students. I again call on all schools management committees at all levels of public and private institutions to take adequate security measures and put in place mechanisms for safety of children.
May I ther

efore call on the Families, Security Agencies, Traditional Rulers, Religious Leaders, Civil Society Organizations, Human Rights Activists, and the Society at large to rise up and take urgent and decisive actions to stem the unacceptable rising cases of violence against our Children. We must ensure safety of our children in homes, schools, markets, worship centres, on the streets and everywhere at all times.

Furthermore let me use this medium to appeal to parents not to relent in their efforts to send their wards to school, especially the girl child as her education reduces infant and maternal mortality and prevents early and child marriages. It also increases literacy and reduces poverty. The saying that to educate a woman is to educate the nation is very apt in this regard”

We Bribed NASS 17Bn to Pass Budget – Okonjo Iweala

Ngozi Okonjo-Iweala

[dropcap]F[/dropcap]ormer finance minister Ngozi Okonjo-Iweala has revealed the blackmail and arm twisting that characterised budget passing by the National Assembly during the Goodluck Jonathan Administration.She cited an instance in 2015 when the National Assembly leadership forced the executive arm to part with N17 billion for the federal lawmakers to pass that year’s budget.

That, she said, was at a time crude price had gone down drastically.The N17 billion alleged bribe, according to Okonjo-Iweala in her book Fighting Corruption is Dangerous:The Story Behind the Headlines, was besides the NASS N150 billion annual ‘standard’ budget.

She described federal legislators as a tough political group to deal with.Her words: “The legislature was concerned largely about three things—the size of its own budget; the nature and the size of the capital budget, particularly investment projects; and the number and geographical location of the projects.

“Senators and Representatives felt that their role as appropriators of the budget was not just to vet and approve budget parameters and oversee budget implementation, but also to shape the size and content of the budgets, including details of specific projects.”She said members of the NASS Finance and Appropriation even felt ”they had the right–indeed the duty–to get into the details of the budget formulation and preparation process all along the budget value chain.”

The ex-minister said the NASS leadership, working through the various committees, “sought to add more to individual projects or create completely new, unappropriated major projects, thereby distorting the budget.”But she explained that “not all National Assembly members supported these unfortunate manipulations of the budget.”She added: “National Assembly members had negotiated large increases in the National Assembly budgets and would brook no discussions or challenges on the issue.

“Their operational budget had ballooned to N150 billion or 16 per cent of the budget and almost 3.5 times the 2006 budget (in naira).”
Okonjo-Iweala said when it was proposed that the lawmakers should give up some of their benefits in view of dwindling revenue in 2015, they bluntly refused to do so.“By the time we presented the budget on December 16, 2014, oil prices had fallen further to $58 per barrel.“We were prepared and we knew we had to trigger the additional expenditure and revenue measures in 2015 to make the budget work.“This would be tough, given that we had entered an election year,” she said.
”Indeed, legislators initially refused to accept any cuts to their regular N150 billion budget, despite dwindling revenues.
“But eventually, they agreed to a 13 per cent cut against a backdrop of ministers accepting a voluntary 50 per cent cut to their basic salaries.“In a tough session with the National Assembly’s ad hoc committee on the budget (made up of chairs of the Finance Committee and Appropriation Committee of both chambers and other leaders of the National Assembly), an additional N20 billion was re-introduced as election expenses for National Assembly members.

“We insisted the amount be dropped because it nullified the 13 per cent cut made to their statutory budget, but managed to reduce the N20 billion figure by only N3 billion to N17 billion.“This became the price to pay to have the 2015 budget passed.”

Okonjo-Iweala was Jonathan’s finance minister from August 17, 2011 to May 29, 2015.

She had served in the same capacity in the Obasanjo government.

The Federal Government proposed to spend N4.454 trillion that year.