News of Buhari’s Trip to US is Fake – FG

The Minister of Information and Culture, Alhaji Lai Mohammed, has urged Nigerians to disregard the fake news being circulated via a Twitter account and an old NTA news video that President Muhammadu Buhari is travelling or has travelled to the US . . .

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President Buhari Set To Leave Nigeria For US; Biafra Security Services (BSS) Set up to Protect Igbo from Fulani Herdsmen – IPOB; Buhari should be detained for disobeying court order, not me – Nnamdi Kanu . . .

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Shell To Start Clean Up Of Bodo Community Oil Spills In April – Official

Shell Petroleum Development Company of Nigeria (SPDC) will start cleaning up the 2008 (infamous) oil spills in the Bodo community of oil-rich Rivers State in Nigeria. An official of the parent company, Royal Dutch Shell (RDS) from Netherlands, said that the (overdue) clean up will commence in April, 2017. The Bodo community has been in conflict with Shell over the oil spills for years which led to the Bodo community booting out Shell from their land . . .

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Madjack SPECIAL REPORT: Nigeria

Buhari presides over 1st FEC meeting on return from medical vacation; TheCable report: Obasanjo was involved in Malabu deal – Documents; Gov. Ortom Orders Fulani Herdsmen Out of Benue Communities; 4 Suicide bombers hit Maiduguri; Rivers rerun: ‘FG, you can’t try us in Abuja’ – 23 INEC officials; Rivers rerun: List of 23 INEC officials accused of receiving N360m from Wike; Buhari meets Saraki & Dogara over 2017 budget; Foreign missions to monitor EFCC boss’s screening by Senate; Part of Diezani’s $115 million came from CBN in bullion van – EFCC; Presidency intervenes & mandates Customs boss to appear before Senate; BREAKING: Customs boss fails to honor Senate invitation; Obasanjo denies details implicating him in $1.09bn Malabu oil deal; Social media inciting Nigerians – NBC Director General; PDP crisis: Bayelsa Gov. Dickson breaks silence; 86 associations apply for registration as political parties . . .

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News Trending in Nigeria

DSS Arrests of Judges: Judges are corrupted by senior lawyers – Sagay; Buhari nominates Dauda Bage, Paul Adamu as Supreme Court Judges; Nigerian Air Force Carries Sorties Over Sambisa Forest; Senate Rejects Motion To Summon DSS boss, Daura Over Judges’ Arrests; House of Reps To Probe Judges’ Arrests; Judge rolls on the floor, begs DSS boss over N500m bribe; Police Role in Aborted Arrest of Judge in Port Harcourt Exposed; Delta Gov. Okowa Slumps in Asaba Government House . . .

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Saraki’s CCT trial stalled; MTN Offers To Settle Row With $1.5bn; Buhari Redeploys 184 Top Officials Over Budget Padding; NSE Market Capitalisation Rises By N22bn . . .


Saraki’s CCT trial stalled

The trial of Senate President Bukola Saraki for alleged false declaration of assets at the Code of Conduct Tribunal (CCT) failed to hold on Friday as scheduled.

Saraki’s counsel, Chief Kanu Agabi, informed the court that he had filed another suit at the court challenging the jurisdiction of the tribunal.

At the resumed hearing of the suit, counsel to the Senate President, Kanu Agabi told the tribunal that he had a motion challenging the jurisdiction of the tribunal.

According to the motion, the Senate President is contending that the Attorney -General of the Federation cannot prosecute him.

Reacting to the information, Counsel to the Federal Government, Mr Rotimi Jacobs told the court that the move was a delay tactic and an attempt to scuttle the trial.

According to him, the accused person knowing fully well that he is the prosecutor did not serve the application on him but instead served the Federal Ministry of Justice clearly indicating that they did not want trial to commence.

Chairman of the tribunal, Judge Danladi Umar, adjourned to March 18, 2016, to hear the motion and also commence with the trial.

The CCT asked the defence lawyer to serve all the relevant processes to the prosecution before March 18, 2016.


MTN Offers To Settle Row With $1.5bn

The South African telecom firm, Mobile Telecommunication Network (MTN), has proposed a slash of the $5.2billion fine imposed on it by Nigerian authorities to $1.5 billion.

The fine was imposed last year by the telecom regulator, Nigerian Communications Commission (NCC) after MTN failed to to meet the deadline to deregister 5.1 million improperly registered SIM cards on its network.

The fine was cut down to $3.9billion after the firm entered into negotiations with government, but as the deadline to pay up approached, it filed a suit to contest NCC’s powers to fine it.

Last week, however, MTN withdrew the matter from court and paid an initial N50billion, and is now requesting that the overall fine be further reduced to $1.5billion, about N300billion.

Buhari, arrives on June 11 for the Summit of Heads of State and Governments of the Lake Chad Basin Commission in Nigeria. AFOLABI SOTUNDE:REUTERS

Buhari Redeploys 184 Top Officials Over Budget Padding

President Muhammadu Buhari yesterday ordered the redeployment of top officials over the recent budget padding which ridiculed the 2016 national budget proposal.

Buhari had vowed that anyone found wanting in the recent budget padding would not go unpunished.

The President had described the incidence as embarrassing and promised to deal decisively with anybody found guilty of tampering with the budget.

“The culprits will not go unpunished. I have been a military governor, petroleum minister, military head of state and headed the Petroleum Trust Fund. Never had I heard the words “budget padding.”

“Our minister of Budget and National Planning did a great job with his team. The minister became almost half his size during the time, working night and day to get the budget ready, only for some people to pad it. What he gave us was not what was finally being debated. It is very embarrassing and disappointing. We will not allow those who did it to go unpunished,” he had vowed.


NSE Market Capitalisation Rises By N22bn

Transactions on the Nigerian Stock Exchange (NSE) closed on Friday on a bullish note with market capitalisation appreciating marginally by N22 billion or 0.25 per cent.

The News Agency of Nigerian (NAN) reports that transaction closed at N8.94 trillion from the N8.92 trillion recorded on Thursday.

Also, the All-Share Index, which opened at 25,923.77 improved by 64.63 points or 0.25 per cent to close at 25,988.40.

Mobil led the gainers’ chart by N11.05 to close at N171 per share.

Total Oil followed with a gain of N7.05 to close at N150 per share, while Nigerian Breweries grew by N3.5 to close at N100 per share.

FlourMill appreciated by N1.78 to close at N20.16 per share and Oando Oil rose by 49k to close at N5.35 per share.

On the other hand, Nestle led the losers’ with a N10 loss to close at N690 per share, while Dangote Cement depreciated by N1.01 to close at N164 per share.

Access Bank lost 22k to close at N4.42 per share, while GTBank and Zenith bank dipped by 5k each to close at N16.25 and N12.35 per share, respectively.

FBN Holdings emerged as the most traded equity, accounting for 23.98 million shares worth N88.62 million, while Fidelity Bank followed with an exchanged 16.12 million worth N19.91 million.

Trascorp sold 15.68 million shares worth N18.91 million and Zenith Bank traded 15.22 shares valued at N188.75 million.

In all, investors exchanged a total of 165.98 million shares worth N1.30 billion in 2,895 deals.

The volume represented 46 per cent decrease over the 310.65 million shares valued at N2.06 billion traded in 3,010 deals on Thursday. (NAN)


Africa Business Summit 2016: African leaders seek investments

African leaders and bankers vowed at an economic summit in Egypt Saturday to push for trade and investments on the continent despite the growing threat of “terrorism” in the region . . .

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News Trending in Nigeria

Tom Ikimi

Arms scam, Dasukigate, Tom Ikimi quizzed, N40bn fraud, EFCC, Murtala Nyako, Ooni of Ife, Olisa Metuh, Ex-VP Sambo’s aide, Dasuki’s bail bond . . .

Dasukigate: EFCC Quizzes Tom Ikimi

The Economic and Financial Crimes Commission (EFCC) has arrested a former minister of foreign affairs and a chieftain of the Peoples Democratic Party (PDP), Chief Tom Ikimi,  over his alleged role in the $2.1bn arms fund mismanagement – according to Saharareporters.

A source at the Commission told the online medium that Ikimi was involved in the $2.1billion arms funds scandal and hence his present predicament.


Auditor General queries FIRS over ‘missing N400b’

The Nigerian Auditor General has queried the FIRS over the ‘missing N400 Billion’. For failing to account for how it has expended about N400 billion, representing 4% cost of non- oil tax collection between 2010 and 2015, the nation’s tax agency- the Federal Inland Revenue Service (FIRS) has earned the ire of the Auditor -General of the Federation (AuGF) Mr. Samuel Ukura.

Crime . Former Adamawa state Murtala Nyako granted N350 bail

N40bn fraud: EFCC tenders Nyako’s bank transaction details

The EFCC has tendered documents of financial transactions of former governor of Adamawa State, Murtala Nyako before a Federal High Court in Abuja.

Nyako was in July 2015 arraigned on a 37-count charge of conversion of public funds totaling N40 billion. Arraigned with him is his son: Abdulaziz Nyako and his two aides-Zulfikk Abba and Abubakar Aliyu.

Ooni of Ife . Oba Adeyeye Enitan Ogunwusi

Ooni of Ife escapes assault at Obas Council meeting

The Ooni of Ife, Oba Adeyeye Ogunwusi (Ojaja II) was almost assaulted on Thursday by suspected agents of some traditional rulers, but he was whisked out of a meeting of the Osun State traditional Rulers, in Osogbo. This drama was took place at the monthly meeting of Osun State Council of Obas.

The meeting ended abruptly over a new white chair brought into the meeting by the Ooni’s aides, which ostensibly caused the commotion.

Olisa Metuh . Abba Dabo . Namadi Sambo

I’ve returned N25m Metuh gave me – Ex-VP Sambo’s aide

Former Special Adviser to ex-Vice President Namadi Sambo, Alhaji Abba Dabo, yesterday told a Federal High Court in Abuja that he returned the N25m paid to him by the National Publicity Secretary of the Peoples Democratic Party (PDP), Chief Olisa Metuh to the Economic and Financial Crimes Commission (EFCC). The fund was for publicity, he says.

He gave evidence in the trial of Metuh by the EFCC as Prosecution Witness 7.

Sambo Dasuki & DSS

Dasukigate: FG to Know Fate on Disobedience of Bail Order Feb 8

An Abuja High Court will on Monday, February 8, 2016, rule on whether to discharge  the former National Security Adviser (NSA), Col. Sambo Dasuki, from the criminal charges brought against him by the federal government or not.

Justice Hussein Baba-Yusuf fixed the adjourned date after counsel to Dasuki, Mr. Joseph Daudu (SAN) and counsel to federal government, Mr. Rotimi Jacobs (SAN), had addressed the court on a motion praying for the release of Dasuki.

MR | News trending in Nigeria

Crude tactics


Nigeria’s ex-President Goodluck Jonathan was buffoonish in governance – The Economist

Cheap oil is causing a currency crisis in Nigeria. Banning imports is no solution

Jan 30th 2016 | LAGOS | From the print edition

Nigeria’s economy

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