RayTec Trust Nigeria

The Central Bank of Nigeria (CBN) has said that there was no intention to further devalue the currency.  Addressing State House correspondents on Friday, CBN Governor Godwin Emefiele said the apex bank was rather concentrating on how to improve and deepen the foreign exchange market by improving supply of foreign exchange into the market.   Emefiele said the CBN was also concentrating on how to reduce the import of items that could be produced locally.   "There have been a lot of talks on whether or not we want to depreciate our currency again. The truth is that we had adjusted the currency by depreciating it from N155 to N197 in February this year. There is no intention to depreciate or adjust the currency any longer. The president has been very clear on this. The vice president has been very clear on this.   "And let me further reiterate our position at the Central Bank of Nigeria that we're not considering any further depreciation of the currency. What we're...

The newly appointed chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu yesterday said he would consolidate on the successes recorded by his predecessor, Professor Attahiru Jega. “I want to assure the distinguished Senators and Nigerians that under my watch no election will be won and lost at the INEC headquarters or at the Commission’s offices in states, “ Yakubu said when he appeared before the Senate for confirmation. Yakubu was later confirmed by the Senate alongside five Commissioners of the Commission. The commissioners confirmed are: Amina Bala Zakari (North-west), Dr. Antonia Taiye Okoosi-Simbine, (North-Central) Alhaji Baba Shettima Arfo (North-East), Dr. Mohammed Mustapha Lecky (South-South) and Mr. Soyebi Adedeji Solomon (South-West). According to him, “the success of any election depends on the ability of the Commission to organise, arrange elections properly and in advance. But in this country, we have this cult...

China announced the end of its hugely controversial one-child policy on Thursday, with the official Xinhua news agency saying that all couples would be allowed two children. It cited a communique issued by the ruling Communist Party after a four-day meeting in Beijing to chart the course of the world's second-largest economy over the next five years. China is "abandoning its decades-long one-child policy", Xinhua reported. The policy restricted most couples to only a single offspring, and for years authorities argued that it was a key contributor to China's economic boom. But after years of strict, sometimes brutal enforcement by a dedicated government commission, China's population -- the world's largest -- is now ageing rapidly, gender imbalances are severe, and its workforce is shrinking. The concerns led to limited reforms in 2013, including allowing a second child for some couples in urban areas, but relatively few have taken up the opportunity. The...

The Nigerian Communications Commission (NCC) has attributed erratic services experienced by Global Services Mobile (GSM) subscribers to inadequate number of masts in the country. Executive Vice Chairman of the commission, Professor Umar Danbatta, stated this in Kano yesterday at a workshop on electromagnetic fields (EMF) exposure organized by the NCC. Professor Danbatta said Nigeria has only 38,000 Base Transceiver Stations (BTS) spread across the country, as against the total estimated national requirement of about 80,000 BTS. “We need more masts across the country to improve services. Members of the public should therefore allow service providers to erect more masts so that the GSM services can improve,” he said. The vice chairman said contrary to speculations, GSM masts are not harmful to public health, adding that not all radiations are dangerous. He maintained that the commission was also concerned about safety. “NCC organized the workshop in order to enlighten the public abo...

The House of Representatives has commenced fresh investigation into the alleged non-remittance of over N1 trillion generated from seized assets by the Economic and Financial Crimes Commission (EFCC) to the Federation Account. The House consequently mandated its committee on financial crimes to investigate the matter. The resolution was reached after adopting a motion by Minority Leader Leo Ogor (PDP, Delta), asking that the alleged non-remittance   be investigated to ascertain its authenticity. Ogor in his motion said: “The past and present leadership of the EFCC is being accused of diversion of funds worth billions of naira meant to be paid into the Consolidated Revenue Fund of the Federation as stipulated by Section 31 subsection 2 and 3 of the EFCC Act of 2004. “The Solicitor-General and Permanent Secretary Federal Ministry of Justice has directed the EFCC to investigate the allegation against Ibrahim Lamorde and to forward the result of its investigation to him...

 President Muhammadu Buhari says desperate actions like detonation of Improvised Explosive Devices will take a longer time to eradicate, even as his administration’s optimism continues to grow that Boko Haram will be crushed by December.   Buhari said this yesterday in his message delivered at hospitals, palaces and Government Houses of Adamawa and Borno States by the Secretary to the Government of the Federation, Babachir Lawal, who led a Federal Government delegation to condole with their governments and people over the increased activities of Boko Haram terrorists. The president was also quoted to have said that even when all displaced communities were about to be returned to their town and villages, there would still remain “vital tests and challenges”. Buhari, in his message, said all Nigerians must work hard to eradicate all forms of extremism and join hands with security forces in detecting unrepentant terrorists embedded in their neighbourhoods. “As I said a few times in t...

The Rivers State Governorship Election Tribunal sitting in Abuja on Saturday sacked Governor Nyesom Wike of the Peoples Democratic Party (PDP) and ordered a re-run election. The tribunal ordered the Independent National Electoral Commission (INEC) to conduct fresh election in the state in the next three months. The All Progressive Congress (APC) Candidate in the April 11 election Dakuku Peterside had challenged the declaration of Wike by the INEC as the winner of the polls. Rivers state had witnessed violence during the March/April general elections. As a result of fear of violence, the tribunal was moved to Abuja to hear the case. Chairman of the tribunal Suleiman Ambrousa in his ruling said the election of Wike was flawed from the evidenced before it. During the trial, Peterside had presented 56 witnesses while Wike presented 24 witnesses but the three man tribunal noted that Wike witnesses made conflicting statements and that their testimonies were weak. The judgment which s...

The Senate yesterday screened the former Governor of Rivers State, Rotimi Amaechi and four others ministerial nominees of President Muhammadu Buhari. Other ministerial nominees that were screened are: Senator Heineken Lokpobiri (Bayelsa), Professor Cladius Omoleye Daramola (Ondo), Baba Shehuri Mustapha (Borno) and Barrister James Ocholi (SAN), Kogi State. With yesterday’s screening, 25 ministerial nominees have so far been screened out of which 18 have been confirmed. Amaechi’s screening has been stepped down thrice. The screening started after they returned from an hour closed-door session where the Peoples Democratic Party (PDP) senators were prevailed upon to shift grounds on Amaechi. At the end of the closed session, the Chairman, Ethics, Privileges and Public petitions, Senator Samuel Anyanwu (PDP, Imo East) moved a motion for the adoption of the report on the petition written against Amaechi. It was seconded by Senator David Umaru (APC, Niger East) and the Senate President, ...

In a dramatic twist at the arraignment of five persons over the October 2 bombings in Abuja yesterday, one of the accused persons pleaded guilty to terrorism charges. The federal government arraigned Abdulazeez Muhazab, Ishaku Salisu, Mohammed Jimoh, Abdulwaheed Nasiru and Abdulahi Nasiru before a Federal High Court in Abuja for allegedly conspiring with others at large and carried out the attack. The police had earlier yesterday paraded the suspects at the Special Anti-Robbery Squad (SARS) headquarters in Abuja. A police officer familiar with the investigation who does not want his name mentioned said the suspects who are between the ages of 26 and 34 were picked up in three locations within the month of October. The attack which took place in Kuje and Nyanya, two of Abuja’s suburbs, left scores dead and many injured. In a five-count charge signed by the Director of Public Prosecutions (DPP), Mohammed Diri, the suspects  were accused of conspiracy and terrorism. They were also a...

The Economic and Financial Crimes Commission (EFCC) yesterday interrogated former Governor of Akwa Ibom State Godswill Akpabio over allegation of financial crimes. Daily Trust gathered that Akpabio honoured the invitation by the anti-graft agency to explain allegations of looting of the state’s funds during his tenure. Sources told our correspondent that Senator Akpabio was being interrogated late yesterday evening at the Abuja head offices of the Commission. He was spotted at the EFFC office in company of a Senior Advocate of Nigeria, Rickey Tarfa, at about 5:20pm. Akpabio’s arrest yesterday is fallout of the petition by an Abuja-based lawyer and activist, Leo Ekpenyong, who had on June 8 this year petitioned President Muhammadu Buhari and the EFCC, calling for Senator Akpabio’s probe and accusing him of looting. The petitioner had earlier on Wednesday adopted his petition and provided more details to the anti-graft agency on the allegations against the minority leader of People...

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Members of the House of Representatives yesterday differed on whether the ban on the importation, smuggle and trading of poultry product be enforced or loosen owing to the implication on the lives of Nigerians and the revenue generation perspectives. The lawmakers spent more than an hour debating the need to enforce the ban over the dangers involved in consumption of contraband product or otherwise. Rep Abubakar Amuda-Kannike, who sponsored the motion, calling for the enforcement of the ban on importation, trading and consumption of poultry product, said the trade constitutes “serious health hazards.” He said some of the health implications affect renal and human liver, noting the high levels of formalin and heavy metals which are toxic to vital organs of the body are used in the preservation of poultry products. “The economic impact to the local poultry industry is enormous, given that Nigerians lose about 1 million jobs and about N399.4 billion annually to importation and smuggli...

The Peoples Democratic Party (PDP) has said the ministerial list sent to the Senate by President Muhammadu Buhari in which names of the nominees were announced Tuesday, by the Senate, is not nothing to be excited about. The party in a statement on Tuesday by its national publicity secretary, Chief Olisa Metuh, it was hard to explain why President Muhammadu Buhari took much time in naming his cabinet.  The party said the list and the length of time it took have further confirmed that the APC-led administration is “driven by propaganda and deceit, a development that raises doubts on the sincerity of its anti-corruption crusade.” The party said: “by a mere look at the list, one can tell that there is nothing to be excited about, especially considering the length of time it took the President to come up with it. “Looking at the list, it is hard to put a finger on why it should take any serious-minded and focused government, six months after its election to assemble such a regular tea...