Skip to main content

Posts

Showing posts from August, 2015

Low oil price: Nigeria's revenue droos by N2.2tr in 6 months

The value of Nigeria’s export of crude oil dropped by N2.2 trillion in the first half of 2015, a comparison of data released by the National Bureau of Statistics (NBS) has shown. Analysis of the NBS Foreign Trade Statistics for the first six-months of 2014 and 2015 showed that crude oil exports for the first half of 2015 reduced to N4.3 trillion from N6.5 trillion recorded in the first half of 2014, representing a 33% decline in crude export value for the period. The reason for the decline in oil export in the first half of 2015 could be attributed to the slump in oil price within the period. The international price per barrel of oil was around $114 in early 2014 but prices fell sharply in the fourth quarter of 2014.Though it recovered slightly in late January, early February and March trading $58.80 per barrel, the price of oil slipped below $50 from June 2015 and have since been hovering just above six-year lows for the past week. Analysis of the NBS Foreign Trade Statistics for ...

President Buhari attends UN meeting

President Muhammadu Buhari has accepted an invitation from the United Nations Secretary-General, Mr. Ban Ki-Moon, to a meeting of world leaders in New York which is expected to formulate a fresh plan of action against extremism. The Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, said this in a statement yesterday after a closed-door meeting between Ban  Ki-Moon and Buhari at the State House in Abuja. Shehu said United States President Barack Obama and President Francois Hollande of France are also expected to participate in the September 28 meeting which will, among other things deliberate on a new United Nations draft resolution on combating extremism worldwide. He said Ban Ki-Moon also invited President Buhari to a meeting of a select group of 25 World leaders in New York on September 27 to deliberate on a global climate change agreement. Shehu said in offering the invitations, the UN said it was in recognition of the political will demonstr...

Buhari cancels NNPC crude swap deals with traders

President Muhammadu Buhari has approved the cancellation of offshore processing and crude swap deals for refined oil products between the Nigerian National Petroleum Corporation (NNPC) and oil traders, Reuters reported quoting presidency sources Tuesdday. The Group Managing Director of the NNPC, Dr. Ibe Kachikwu had recently hinted that all Production Sharing Contracts, Joint Venture Agreements and all other contracts between the NNPC and its various partners would be reviewed to reflect current day realities in the global oil and gas industry. Presidency spokesman Femi Adesina confirmed the government’s position in a chat with Reuters saying, "Mr. President has approved the cancellation of the oil swap contracts. Mr. President has publicly expressed his displeasure over this oil swap deal”

Buhari prove arms purchase under 'Yar adua, Jonathan

The federal government has set up a 13-man committee to investigate military weapon purchases from 2007 till date. The committee was constituted by the National Security Adviser Retired Major-General Babagana Monguno on the orders of President Muhammadu Buhari. Presidential spokesman Mr Femi Adesina, announced this in a statement yesterday. He said the committee’s mandate was to identify irregularities and make recommendations for streamlining military procurement process. He said the committee would  investigate allegations of non-adherence to correct equipment procurement procedures and the exclusion of relevant logistics branches from arms procurement under past administrations. He noted that such practices often resulted in the acquisition of sub-standard and unserviceable equipment. The committee has Air Vice Marshall J.O.N. Ode (rtd.) as  President and members are  Rear Admiral J.A. Aikhomu (rtd.); R/Adm E. Ogbor (rtd.); Brig Gen L. Adekagun (rtd.); Brig Gen M. Aminun-Kano (...

4 Army officers arrested over killing of Journalists

Four army officers have been arrested in Sri Lanka over the abduction and suspected killing of a political journalist during the regime of former president, Mahinda Rajapaksa, police said on Monday. The disappearance of Pradeep Ekneligoda five years ago was never investigated after senior members of the former president’s regime claimed that the journalist was…

PDP makes u turn Approves for e-registrations of Members

The National Working Committee (NWC) of the PDP yesterday approved the revival of an online registration system for the party members in all the 36 states of the federation and Abuja. It would be recalled that the PDP leadership had in 2010 rejected a planned online registration of its members. At that time, most PDP governors rejected the initiative, a move which pundits believe was meant to ensure that the party remains under their grip. Observers believe that the recent U-turn by the PDP is to pave way for mass recruitment of followers in order to revive the dwindling fortunes of the party which lost the federal government and many states in the general elections. The online registration, according to a statement signed by the National Publicity Secretary of the party, Chief Olisa Metuh, is to commence in Edo State as a pilot project. The statement explained that the decision to resuscitate the e-registration, initiated in 2010, was part of the re-engineering to re-build the pa...

Heritage Bank earmark N200m for corps members NYSC- DG

Director General, National Youth Service Corps, Brigadier General Johnson Olawumi has said 200 million naira has been earmarked by Heritage Bank as soft loan for entrepreneurial corps members. Speaking to press men recently in Abuja, he said the bank was committed to assist corps members develop their entrepreneurial skills or project without having funds as their challenge. Olawumi also informed that the NYSC foundation has set aside 10 million naira for corps members to access for their project hence they can get between the sum of 250,000 naira and 400,000 naira. According to him, the scheme has approached the Central Bank of Nigeria to assist the corps members with soft loans to help them develop the skills they acquire while they were serving. He said the collateral for the corps members to access the loan was their discharge certificate. Olawumi also informed that the scheme was underway to set up a training section in the Kubwa camp to train corps members on property develo...

Access Bank groses N168.3b in earning

Access Bank Plc has released its audited results for the first half ended 30 June, 2015, showing positive growth in financial indices. The group recorded a strong performance in the first six months of the year, reasserting its capacity and resolves to deliver strong returns in spite of a tighter operating environment. In the audited financial results released to the Nigerian Stock Exchange (NSE) in Lagos, Access Bank recorded gross earnings of N168.3 billion, representing an increase of 43 per cent over the N117.9 billion recorded in the same period in 2014. The bank proposes an interim dividend of 25 kobo per share. Growth in gross earnings was boosted by an 18 per cent increase in interest income to N98.9 billion in the first half of 2015 from N83.6 billion in the comparative period of 2014. The group posted a profit before tax of N39.1 billion which rose by 44 per cent from N27.1 billion in 2014. Profit after tax was up 39 per cent in 2015 to N31.3 billion, compared to N22.6 bil...

Airforce destroyed Boko haram supply trucks

The Nigeria Air force has destroyed two trucks used in logistic supply by the Boko Haram terrorists in the North Eastern parts of the country. A statement by Air Force spokesman Air Commodore Dele Alonge late Sunday night said: “Two trailers suspected to be carrying logistics support to members of the Boko Haram Terrorist (BHT) sect have been intercepted and destroyed.” He said they were destroyed by the Nigerian Air Force Agusta helicopter on armed reconnaissance mission around the Nigeria-Cameroon border. Alonge added that the trailers were covered and parked at different locations in the bush around the border town of Belel. He stated that the recent air operation against the BHTs was commanded by the Chief of the Air Staff (CAS), Air Marshal Sadique Abubakar from NAF reconnaissance aircraft, the King Air 350i. The Chief of Air Staff, Alonge said coordinated the various Air Force platforms involved in the operation to provide close air support to ground forces, led by the Chi...

Taraba Guber: Tribunal adjourns for Bar conference, to resume August 31 for hearing

The Taraba Governorship Election Petition Tribunal sitting in Abuja on Saturday adjourned hearing to Aug. 31 to enable counsels attend the Bar Conference. Justice Musa Abubakar, the Chairman of the tribunal gave the adjournment following the plea by all the counsels in the suit challenging the election of the Governor of Taraba, Darius Ishaku. At…

Military clear more twon from Boko haram in north east.

The Nigeria Army has said troops of the 7 brigade on operation Zaman-Lafiya Dole in the north eastern part of the country have cleared Gudumbali town in Borno state of Boko Haram terrorists. A statement by army spokesman Colonel Sani Usman said the troops on continued offensive operations entered and cleared Gudumbali town in Kukawa Local Government Area. He said during the operation, a number of the terrorists were killed, their weapons and equipment were destroyed and troops are currently doing clearance operations in the general area. Colonel Usman recalled that the Nigerian Air Force has inflicted heavy damage on the terrorists’ camps within the general area last Monday. He also said: “troops of 5 Brigade Explosive Ordinance Devices (EOD) unit, while advancing towards Dikwa, ran into landmines buried by the terrorists between old Marte and Kerenoa junction in Guzamala Local Government Area of Borno State.” “Unfortunately, 2 soldiers lost their lives, while 2 others were critic...

Buhari suspend Immigration CG, parradang

President Mohammadu Buhari has suspended the Comptroller General of Nigeria Immigration Service (NIS), Mr. David Shikfu Parradang from office with immediate effect. The President's directive was made known on Friday in a statement signed by the Director of Press of the Ministry of Interior, Yusuf Isiaka Alhaji on behalf of the Permanent Secretary of the ministry. The most senior officer of the NIS, Deputy Comptroller General of Immigration Martin Kure Abeshi has been directed to take over the affairs of the office. Daily Trust gathered that the suspension of Mr. Parradang is connected with the arrest of an Islamic State of Iraq and Syria (ISIS) leader, Imam Ahmed Al-Assir in Lebanon with a valid Nigerian visa. The fugitive terrorist who had been on the watch list of many countries for years before his apprehension was sentenced to death in absentia and had been on the run since 2013. Daily Trust reported on Thursday that the President was embarrassed by the development and had...

End of Boko haram in sight -Buhari

President Muhammadu Buhari has reaffirmed his conviction that the end of the Boko Haram insurgency is in sight, given the added vigour with which the war against the terrorist sect is now being prosecuted by Nigeria and her allies. The Special Adviser to the President on Media and Publicity, Mr Femi Adesina, quoted Buhari as saying this at the Presidential Villa in Abuja yesterday while speaking in an audience with Mr Mousa Faki Mahamat, Chadian  Minister of Foreign Affairs and Special Envoy of President Idris Deby of Chad. Adesina said Buhari stated that with higher morale among troops in the frontline against Boko Haram and their improved logistics, equipment and training, a rapid end to the insurgency could be expected. He said the president however noted that Nigeria and Chad must be prepared to make more sacrifices to end the scourge of Boko Haram since the sect was at the “very heart of the insurgency.” “We will sustain our effort, and the insurgents will be defeated soon,” B...

Only Buhari knows his ministers-APC

Contrary to widespread speculation that President Muhammadu Buhari may not appoint his ministers this September as promised, his party, the All Progressives Congress (APC), has given assurance on the sanctity of the date. In an exclusive interview with LEADERSHIP yesterday, the APC publicity secretary, Alhaji Lai Mohammed, stated that it would be unfair to start…

Civil society organization urged pilgrims to be good ambassadors

The Independent Hajj Reporters (IHR), a civil society organisation has urged Nigerian pilgrims going for 2015 hajj to abide by the rules and regulations governing hajj both in Nigeria and in the Kingdom of Saudi Arabia for the successful conduct of the spiritual exercise. A statement by the civil society’s national coordinator, Ibrahim Muhammed, and…

NNPS Alumni to Buhari: jail all looters

Members of the Alumni Association of National Institute for Policy and Strategic Studies (NIPPS) have called on President Muhammadu Buhari to jail all those found guilty of looting public funds. They made the call at the Aso Rock Presidential Villa in Abuja on Wednesday during a courtesy visit to Vice President Yemi Osinbajo. A statement by the spokesman of the vice president, Laolu Akande, quoted the leader of the association, Major-General Lawrence Onoja, as commending Buhari’s determination to fight corruption and re-position the economy.  The vice president's spokesman also quoted Onoja as urging Buhari's administration to ensure a forensic audit of all government agencies. Onoja, according to the statement, pledged the support of the association to Buhari's government for the actualisation of what he called the three-point agenda of security, corruption and economy. In his remarks, Osinbajo faulted the polices of the past government, saying its planning ...

Group warns against 'wasteful` republican of diaspora day.

The Nigerians in Diaspora Organization (NIDO) have said it will amount to waste of scarce national resources to duplicate and celebrate another Diaspora Day when the organization had already celebrated its annual Diaspora Day last month. In a statement signed by the spokespersons of the group, Dr Manuwuike and Professor Hauwa Ibrahim, it said considering the financial austerity facing the nation at the moment, celebrating another Diaspora Day in August at the expense of the government will amount to waste of resources. The group however said it disregarded any insinuations that it was at variance with the Federal Government, insisting that it has “relentlessly contributed to the national development.” The group said its current leadership continues to commend and support President Muhammadu Buhari’s effort to introduce good governance, best practices, security and economic development. It further reiterated its intention on its contribution to national development by pursuing vario...

Buhari: oil production cost unnecessarly high

President Muhammadu Buhari has stated that the cost of oil production has become unnecessarily high in Nigeria. The Senior Special Assistant to the President on Media and Publicity Mallam Garba Shehu, in a statement, quoted Buhari as saying this at the State House in Abuja on Wednesday while meeting with members of the Independent Petroleum Producers Association. Buhari assured the oil producers that his administration would take appropriate actions to maintain and enhance security in their areas of operation, noting that better security would help to lower production costs, which, he said, had become unnecessarily high in the country. Assuring indigenous companies operating in Nigeria's oil and gas sector of the full support and protection of his administration, Buhari commended their determination to increase the participation of Nigerians in the country's oil industry and promised to do all within his powers to address the challenges which they currently face.   The...

Memphis and Fellaini relish Champions league win

Football News: Memphis and Fellaini relish Champions League win Memphis and Marouane Fellaini were pleased to seal a key first-leg victory.

I am a blogger

Welcome to official blog of Rayyanuzusman.

Buhari sacks AMCON management

President Muhammadu Buhari has approved the dissolution of the executive management team of the Assets Management Corporation of Nigeria (AMCON). The Special Adviser to the President on Media and Publicity, Mr Femi Adesina, said this in a statement last night. Adesina said the president has also approved the reconstitution of the management team of the corporation as follows: Ahmed Lawan Kuru (managing director); Kola Ayeye (executive director); Eberechukwu Uneze (executive director) and Aminu Ismail (executive director). According to the presidential spokesperson the appointment of Kuru and the three new AMCON executive directors is with effect from August 18, 2015. Until his appointment yesterday as managing director of AMCON, Kuru was the Group Managing Director of Enterprise Bank Limited. Kuru started his banking career with the defunct Habib Bank in 1985 and rose through the ranks to become an executive director of Bank PHB (now Keystone Bank) in 2005. The Asset Management C...

Don't negotiates with Boko haram

Chad’s President Idriss Deby has said Boko Haram is no longer led by the fearsome Abubakar Shekau and that his successor is open to talks. Deby made the revelation Tuesday while addressing reporters in the capital N’Djamena on the 55th anniversary of Chad’s independence AFP) reported yesterday. He did not say what had happened to Abubakar Shekau, but said he had been replaced by Mahamat Daoud - who has not been heard of before. “There is someone apparently called Mahamat Daoud who is said to have replaced Abubakar Shekau and he wants to negotiate with the Nigerian government. “For my part, I would advise not to negotiate with a terrorist,” he said. He added: “Boko Haram is decapitated. There are little groups (of Boko Haram ) scattered throughout North-East Nigeria, on the border with Cameroon. It is within our power to definitively overcome Boko Haram. “The war will be short, with the setting up of the regional force, it will be over by the end of the year,” Deby added, referri...

Buhari accepts Inde's resignation

President Muhammadu Buhari has accepted the resignation of the Comptroller-General of the Nigeria Customs Service, Dikko Abdullahi. It was gathered on Monday that Buhari on Friday approved Abdullahi's request to proceed on voluntary retirement from today in a letter he wrote to the president on August 3. The president, in the approval letter he signed personally, thanked Abdullahi for his service to the nation within the last six years. The President's letter, titled "Voluntary retirement from the Nigeria Customs Service" and dated August 14, read: "Dear, Alhaji D.I. Abdullahi. I write to acknowledge the receipt of your letter Ref. No. NCS/ADM/HQ/P. 35802 of 3rd August, 2015 conveying your decision to voluntarily retire from the Nigeria Customs Service with effect from Tuesday, 18th August, 2015. "I note with appreciation your services to this nation, especially as the Comptroller-General of the Nigeria Customs Service in the last six (6) years. Accordingly,...

Unity Bank appoints somefun as new MD/CEO

Unity Bank Plc has announced the appointment of Mrs. Tomi Somefun as the new Managing Director and Chief Executive Officer of the bank. She was appointed Unity Bank Plc Acting MD/CEO on August 10 after the former MD/CEO, Mr. Henry Semenitari resigned last month. A statement from the bank said the Central Bank of Nigeria (CBN) has confirmed the appointment in a letter to the bank dated August 10, 2015, and signed by its Director of Banking Supervision. An experienced professional with a depth of experience and knowledge of the finance industry, Tomi has over three decades of cognate experience of which 26 years were in the banking sector. She started her career in Accounting and Financial Consulting with Peat Marwick & Co, and subsequently Arthur Andersen & Co (now KPMG). She has worked in several areas across the industry, spanning Treasury & Institutional Banking, Investment Banking, Retail and Commercial Banking. Prior to joining Unity Bank, she had a distinguished car...

Buhari gives three months ultimatun to end B/haram

President Muhammadu Buhari on Thursday morning charged the service chiefs to map out strategies to defeat Boko Haram in three months' time. President Buhari gave the charge at the Presidential Villa in Abuja while decorating the service chiefs with their new ranks. Buhari also told them that they must be accountable for all men and equipment under their commands. The service chiefs are Chief of Defence Staff Major-General Abayomi Olonishakin, Chief of Army Staff Major-General T.Y. Buratai, Chief of Naval Staff Rear Admiral Ibok-Ete Ekwe Ibas and Chief of Air Staff Air Vice Marshal Sadique Abubakar.

Hollywood tackle fistula with advocacy

The plight of some 800,000 women living with fistula (abnormal holes that allows faeces or urine to leak into the vagina) goes onscreen in Nollywood actress Stephanie Linus’ new movie which premieres in Abuja Thursday night. The movie “Dry” tells the story of 15,000 Nigerian women who develop fistula yearly through the lives of a 13-year-old girl forced into marriage to a 60-year-old man. After repeated rapes, a pregnancy and the delivery of her first child, the young bride develops vesico-vaginal fistula—urine constantly leaks into her vagina. “She is ostracized and abandoned by her husband, family and community. It is a period of rejection, isolation, and despair,” the premiere organisers said in a statement. Linus, who’s become one of Nollywood’s more visible ambassadors, wrote and directed the Dry story, which also stars Liz Ameye (formerly Liz Benson) and Darwin Shaw. "To finally have a chance to share something so dear to my heart with my people is humbling,” said Linus...

Schweinsteiger closing on full fitness.

Football News: Schweinsteiger closing on full fitness Bastian Schweinsteiger tells MUTV he is getting fitter after making his debut against Tottenham.

United

Football News: Darmian voted Man of the Match v Spurs United debutant Matteo Darmian is voted Man of the Match on Twitter.

Buhari: my Latest efforts on stolen fund

•As US Congressmen visit president President Muhammadu Buhari says his government has taken efforts to recover looted Nigerian funds a step further by identifying banks, financial institutions and countries in which payments for stolen Nigerian crude oil have been deposited. The president said this at the Presidential Villa in Abuja on Monday while speaking in an audience with visiting United States Congressmen led by Rep. Darrel Issa. A statement by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, quoted Buhari as saying that some of the looted funds were paid to individual accounts. Adesina said the president also disclosed that his government was identifying the financial institutions and countries that were involved. He said Buhari acknowledged the support and cooperation his administration was getting from the international community in gathering required intelligence for tracing and recovering stolen national resources. “We are getting cooperatio...

How we helped Boko haram repel attack--Airforce

  The Nigerian air force said its Alpha jet was instrumental in assisting ground troops repel an attack by Boko Haram on Bita Village in Borno state. A statement on Sunday by Air Force spokesman Air Commodore Dele Alonge said the NAF in a combined effort with ground troops successfully repelled the planed attack on the village. He explained that using  its Alpha-Jet, it provided combat air support to the ground force to attack the insurgents where they were observed to be mopping up to carry out a deadly attack on the village.   Alonge added that a large number of the insurgents were killed and several others were injured. He said the NAF A-Jet also conducted an armed reconnaissance along Bita-Gwoza road and through Yamtege, Hamdaga, Dure and Pulka. "The Nigeria Air Force  will continue to give all necessary support to the ground force through its intensified and persistent efforts in the ongoing fight against Boko Haram terrorists in the North-East until all portions of Nig...

One dead as transporters clash in Kwara community

One person was feared dead on Sunday during a fracas between members of the National Union of Road Transport Workers (NURTW) and Road Transport Employers Association of Nigeria (RTEAN) in Offa, Offa local government area of Kwara state. It was learnt that dangerous weapons like cutlasses and machetes were freely brandished and used while unspecified number of vehicles were destroyed. Scores of others were said to have sustained injuries through machetes’ cuts even as a secretariat of one of the unions was touched by the angry members. Sources said the clash resulted from a disagreement between the two unions on the way to convey students of the state College of Health Technology, Offa going on internship to Ondo, Ekiti and other neighbouring states. The incident caused panic in and around Offa even as heavy detachment of mobile policemen was mobilized to the community. Public Relations Officer of the state police command, ASP Ajayi Okasanmi confirmed that one person who received d...

Flood destroys houses, corps worth N46.16m in Bauchi

Houses and crops worth N46.16 million have been destroyed by flood in Misau town and surrounding villages in Bauchi State. Alhaji Ado Aska, Chairman, Misau Local Government Council in the state, made this known in Misau on Saturday, in an interview with the News Agency of Nigeria (NAN). Aska disclosed that the incident, which occurred on July 28, destroyed 197 houses and crops worth N38.77 million in Misau town. He explained that 52 houses and crops worth N7.39 million were also destroyed by the flood in Firko and Kafin Sule villages in the suburbs of Misau town. He said that persons displaced by the flood had taken refuge with their relations in various locations within Misau Town. The chairman attributed the incident to poor drainage facilities, coupled with the porous nature of the soil within Misau town its environs environs. He said that officials from the State Emergency Management Agency (SEMA), had visited the affected and promised to assist with relief materials. (NAN)