NIGERIA NEWSPAPERS: Today's Thisday Newspaper Headlines [26 February, 2018].

Below are the headlines found on Thisday Online Newspaper for today, Monday, 26 February, 2018.

Mon, 26 Feb 2018
The federal government has confirmed that 110 students of Government Girls’ Science and Technical College, Dapchi, Yobe State, are yet to be accounted for, after insurgents believed to be from a faction of the terror group, Boko Haram, invaded the school last Monday.
The Minister of Information and Culture, Alhaji Lai Mohammed, announced the figure after a meeting on Sunday, in Damaturu, the state capital, between a federal government delegation and representatives of key stakeholders, including the state government, the college, the parents, security agencies and Bursari Local Government, where Dapchi is situated.
Mohammed in a statement said based on the briefings from the Principal of the College, Hajia Adama Abdulkarim, and the state Commissioner for Education, Hon. Mohammed Lamin, 906 students – out of whom 110 have not been accounted for – were in the school on the day of the attack.
There had been confusion over what transpired at the school last Monday, as there were conflicting accounts on the fate of the school girls. While the federal government and the police command in the state could not as at Thursday confirm if there was any abduction by the terrorists group, unconfirmed reports put the number of missing girls at 111.
By the weekend, however, parents who had their wards in the school put the number of those who had not been found at 105.

Hoisting some clarity on the matter on Sunday, Mohammed rounded up the figures at 110 and announced that the federal government had directed the police and civil defence authorities to immediately deploy their personnel in all the schools in the state in order to ensure the security and safety of the students and their staff.

The minister disclosed that the federal government had stepped up efforts to rescue the girls and return them safely to their parents, adding that security agencies were working on many leads regarding the whereabouts of the girls.
He said: “This is the second time in four days that a federal government delegation would visit Yobe State since the unfortunate incident. This is a measure of the seriousness with which we are addressing the issue. The security forces are leaving no stone unturned in their search for the girls.

”We are back here in Yobe as part of efforts to provide some succour to the parents of the girls, to let them know that they are not alone and also to reassure them that we will not rest until we have found the girls. We will carry the parents along on the efforts we are making.”
The Minister of Interior, Lt. Gen. Abdulrahman Dambazau (rtd), who was also on the delegation, said the team embarked on the trip in order to get the facts right so that the approach to the solution would be correct.

“We must get back the girls and also ensure that this does not happen again,” he said.
The federal government delegation, comprising Mohammed and Dambazau, held an enlarged meeting that was attended by the state Governor, Alhaji Ibrahim Gaidam; members of the state cabinet; the principal and vice-principal of the school; representatives of the parents of the missing girls; and security agencies, among others.

Gaidam Blames Military for Abduction

The blame for the attack and the eventual abduction of the girls have, however, been laid at the doorsteps of the military by the governor of the state, Gaidam.
Speaking during a solidarity visit by the Governor of Borno State, Alhaji Kassim Shettima, on Sunday, in Damaturu, Gaidam said the withdrawal of soldiers guarding Dapchi barely a week before the attack made last Monday’s school incident easier for the terrorists.
“Let me be quoted anywhere, the military must take blame for the attack on Dapchi,” he said angrily, adding: “The same thing happened in 2013 when the military suddenly removed troops guarding the town and a week later Boko Haram went there to attack the town and the secondary school there, killing 29 students.”

Mon, 26 Feb 2018
The SBG Securities (Pty) Limited of South Africa, a wholly owned subsidiary of the Standard Bank Group, has projected that about nine commercial banks in Nigeria would be able to pay dividends this year, despite the adjustment to the dividend payout policy issued by the Central Bank of Nigeria (CBN) recently.
The banks, according to a report by the research and investment firm, are Zenith Bank Plc, Guaranty Trust Bank Plc (GTBank), United Bank for Africa Plc (UBA), Access Bank Plc, Stanbic IBTC Plc, Fidelity Bank Plc, First City Monument Bank Plc, First Bank of Nigeria and Ecobank.

The CBN recently released a circular, making an amendment to a previous circular dated October 8, 2014 on internal capital generation and dividend payout ratio.
The new circular introduced some conditions for banks to be allowed to pay dividend, which are the Composite Risk Rating of the bank, non-performing loans (NPLs) ratio, as well as Capital Adequacy Ratio (CAR).
While banks do not publicly disclose their Composite Risk Rating, the minimum CAR for international banks in the country is 15 per cent, 10 per cent for national banks and 16 per cent for systemically important banks.

However, the report stated that based on the analysis of the firm from a CAR perspective, shareholders of the aforementioned banks would not be affected by the policy, which restricted payment of dividends by some financial institutions based on their results as at the end of September 2017.
It explained: “Going by the results released in September 2017, most of the banks not restricted from paying dividend have either exceeded or are close to their 2016 full year profit level.

“Fidelity Bank with a profit before tax of N16.2 billion in September 2017 has done 147 percent of its 2016 full year profit; Sterling Bank with its N6.6 billion profit before tax as at September 2017 has done 131 percent of its 2016 full year profit; while Stanbic IBTC has already recorded 123 percent of its 2016 full year profit before tax as at September 2017.
“Other banks close to their 2016 full year gross profit include Zenith, GTB, Access and UBA. These banks will most likely pay at least the same dividend paid in the previous financial year.”

The analysts also reiterated that banks, which belong to a holding company (HoldCo) structure such as FBN Holdings Limited, could typically still pay dividend, which would be derived from their non-bank subsidiaries, while the policy did not apply to ETI group (parent company for Ecobank Nigeria) because it is not regulated by the CBN.
According to the firm, “Dividend pay-out estimates are in line with the regulation  as  they had  previously  emphasized  the  need  for  a  reduction  in dividend pay out to build buffers, remarking that for 2017 earnings, the highest dividend pay-outs will come from Zenith at 50 percent and GTB at 49 percent.”

Mon, 26 Feb 2018
As the March 31, 2018, deadline given by the federal government for tax amnesty under its Voluntary Assets and Income Declaration Scheme (VAIDS) draws nearer, the Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has warned that there would be no sacred cows after the cut-off date.
Fowler gave this warning in an interview with journalists in Lagos at the weekend, just as the Minister of Finance, Mrs. Kemi Adeosun, and the Governor of Kaduna State, Malam Nasir el-Rufai, plan to engage Kaduna business leaders and taxpayers on the tax amnesty programme.

According to Fowler, the government would enforce the laws on tax administration once the deadline ends.
He warned: “What follows after the deadline is that we shall follow the laws that deal with tax administration and for those that are not complaint, we shall investigate them and if need be we prosecute them.
“We shall take all actions in line with the law, which include the stoppage of their business activities and if need be, the sale of assets.”
Fowler explained that extending the deadline for VAIDS would not depend on his agency, saying before the scheme was introduced, it was approved by the Federal Executive Council (FEC), the National Assembly and the state governors.

He said: “So, I don’t have the capacity to change that approval. I think the only person that can, for whatever reason decide to give an extension would be the president or the vice president that oversees the economy, through the Minister of Finance.
“People say we should use the 80-20 principle, meaning that we focus on those that give you 80 per cent of your tax revenue. But when it comes to tax, just like the lady that gave the widow’s might and Jesus said she gave more than the rich men because she gave all that she had. It was not subject to the amount.

“That is how a tax is. You can say you are a big taxpayer and that you have paid N1 billion and because you have paid N1 billion, we should overlook the N500 million you are owing.
“Meanwhile, somebody who paid N100,000 paid 100 per cent of his tax liabilities, meaning he was 100 per cent compliant.
“The organisation that paid N1 billion and still had N500 million left, was only 50 per cent compliant. So, you can’t compare them. Tax is based on profit and income.
“So, what we look at as tax administrators is the level of complaint. That is, we should use the same law for those who are paying N100, 000 and those who are paying N1 billion.”

According to the FIRS boss, out of the N305 billion the government set out to realise from VAIDS, it has got about N20 billion.
He was, however, optimistic that before the middle of next month, the amount would rise significantly. He disclosed that FIRS has been inundated by enquiries from taxpayers about VAIDS. This, he was hopeful, would lead to improved compliance before the deadline expires.
He explained: “Now, what has come in so far from the corporate angle is about N20 billion. Now, what people would say is that it seems small.

Mon, 26 Feb 2018
The crisis rocking the Cross River State chapter of the All Progressives Congress (APC) has expanded its margins as the National Vice Chairman, South-South, Ntufam Hilliard Eta, has described the special congress held last Saturday to elect a substantive chairman of the party in the state as null and void.

Eta spoke in reaction to the election of Mr. Etim John, as the substantive chairman of the APC in the state at a special congress conducted by a five-man team led by Mohammed Indabawa.

After the count of vote at the special congress, John polled 56 votes to defeat his only opponent, Dr. Mathew Achigbe, who polled 36 votes.

However, Eta who is a member of the APC in the state, kicked against the conduct of the special congress, describing it as illegal, null and void.

Eta said as far as the law of the land was concerned, Mr. John Ochalla remains the acting chairman of the APC in the state.

He said a court injunction had barred the party from conducting any special congress for the APC in Cross River State.

“Since a court order has been served, the parties must resort to status quo until the exhaustion of the litigation process regarding the issue in contention. I had instructed the committee based on the court processes served us in Abuja and Calabar, to stop the exercise.

“As National Vice Chairman, it is my duty to see to the operations of the party in my zone. On the basis that, we are law abiding; and cannot go against the law. I hereby, nullify the congress.

“The issue of filling the position of state chairman of the party had been in contention thus attracting the litigation. Those celebrating such a nullity as a victory have further exhibited their folly of the law and displayed flagrant disregard for court orders.

“There have again exposed their folly of the law and of due process. It is a caricature of sort that these folks still live with the mentality of their former political platforms.

“The national echelon of the party will not condescend to such illegality and constitutional breach of defying a court order. Saturday’s exercise reveals the height of compromise on the part of some party leaders to insist on constitutional democracy as part of the change mantra.

“What happened is a travesty and the height of impunity. It is an attack on the constitution of the party and the rule of law. We are a party of change. We are a party of doing the right thing. We cannot as a party that came into power on the basis of change indulges in such illegality,” Eta said.

Mon, 26 Feb 2018
By Michael Olugbode in Maiduguri Former Head of State and leader, Nigeria Prays, General Yakubu Gowon (rtd), has said the prayers of all is important in promoting unity and stability of the nation. Gowon, who was in Maiduguri to organize a two-day National Prayer Rally in the troubled town, told Borno State Governor, Kashim Shettima, [] 

The Uncomfortable Truth
Mon, 26 Feb 2018
The Uncomfortable Truth 

Mon, 26 Feb 2018
By Obinna Chima The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele at the weekend reiterated the central bank's commitment to development of initiatives that would continue to support the growth of the economy. Emefiele made the pledge when he received the '2017 Silverbird Special Achievement Award,' conferred on him by the Silverbird Group [] 

Mon, 26 Feb 2018
First Bank of Nigeria Limitedand Stanbic IBTC haveannouncedtheir respectivesponsorship of the 2018 Social Media Week (SMW)scheduled tocommence in Lagos today. Both financial institutions made this known in separate statements made available recently. Theevent which is Africa's largest tech and digitalmediaevent would convene business leaders, global thinkers, entrepreneurs, Fintech firms, and media entrepreneurs. FirstBank said it [] 

Mon, 26 Feb 2018
The African Export-Import Bank (Afreximbank) will attract $1.5 billion to Mauritania to finance development of trade and related infrastructure under the terms of a memorandum of understanding signed with the countryrecently, theBank'sPresident, Benedict Oramah has announced. Speaking in Nouakchottfollowing meetings with President Mohamed Ould Abdel Aziz of Mauritania and several of his ministers, Oramah said [] 

Mon, 26 Feb 2018
The Minister of Finance, Mrs. Kemi Adeosun, willthis Thursdaylead a federal government delegation to the Voluntary Assets and Income Declaration Scheme (VAIDS) stakeholders' symposium in Kaduna State. The VAIDS stakeholders' symposium is being hosted by the Kaduna State Government and will be attended by the Executive Governor of Kaduna State, Mallam Nasir el-Rufai; Executive Chairman [] 

Consolidated Hallmark Insurance Assures InvestorsMore Returns
Mon, 26 Feb 2018
MARKET NEWS The Managing Director/Chief Executive Officer of Consolidated Hallmark Insurance (CHI) Plc,Mr. Eddie Efekoha has assured shareholders of the company ofmore returns in the nearest future asstrategies to boost the company's performance are being put in place. Efekoho spoke against the backdrop of the recent successful raising of N500 million from the capital market [] 

Naija Newspapers
Naija Newspapers

This is a short biography of the post author. Maecenas nec odio et ante tincidunt tempus donec vitae sapien ut libero venenatis faucibus nullam quis ante maecenas nec odio et ante tincidunt tempus donec.