NAIJA NEWSPAPERS: TODAY'S THE DAILY TIMES NEWSPAPER HEADLINES [31 JANUARY, 2017].


Below are the headlines found on The Daily Times Online Newspaper for today, Wednesday, 31 January, 2017.

Wed, 31 Jan 2018
The Administrative Panel of Inquiry has recommended the dismissal of the suspended Director-General of the Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, from the Public Service of the Federal Government. The report and recommendations of the API headed by the Permanent Secretary of the Federal Ministry of Finance, Mahmoud Isa-Dutse, were sighted by one of our correspondents in Abuja on Tuesday. In the report, which has been submitted to the Minister of Finance, Mrs Kemi Adeosun, the panel also directed Gwarzo to refund N104,851,154.94 being the severance package he approved and received. The panel also recommended that Gwarzo should be referred to the Independent Corrupt Practices and other related offenses Commission (ICPC) for further investigation over the allegation of using his position to influence the award of contracts to Outbound Investments Limited. According to the report, Gwarzo’s position as the director-general of SEC as well as a director in two private firms (Medusa Investment Limited and Outbound Investments Limited) was in breach of Public Service Rule 030424, 030402 and Section 6 of the Investment and Securities Act, ISA 2007. The panel further recommended that: ” Mr. Mounir Gwarzo should be referred to the ICPC for further investigation of the allegation of using his position as Director-General to influence the award of contracts to Outbound Investments Limited in view of the provisions of Sections 57 (12) (b) and 58 (5) of the Public Procurement Act, 2007; “Gwarzo should be dismissed from the Public Service of the Federal Government, in line with PSR 030402 (in relation to the allegation on Golden Handshake), having breached paragraphs 313 and 316(4) of the Financial Regulations (Government Notice No. 219 of 27th October, 2009) (engaging in extra budgetary expenditure without appropriate approval); “He should be discharged from service on the allegations of award of contracts to Medusa Investments Limited; award of contracts to other companies as mentioned in paragraph 5.1.1 and to which no relationship with Mr. Mounir H. Gwarzo was sufficiently established.” But the panel recommended that the cases of two management officers of the Commission – Mrs. Anastasia Omozele Braimoh and Mr. Abdulsalam Naif H., be referred to SEC for appropriate disciplinary action in line with the provisions of the Staff Manual of SEC. The panel advised the Federal Government to re-orientate public servants to the very fact that the Public Service Rules and Financial Regulations are ground norms of every Government Service Contract, be it at the Federal, State or Local Government levels. “Accordingly, all Government Extra-Ministerial Departments and Agencies should be made to understand that the PSR and FR are superior to whatever specific legislations and domestic arrangements that guide their operations, except when such issues were not covered by any provision of the PSR,” the report stated. In a related development, the Minister of Finance, Kemi Adeosun, on Tuesday, declared that the Federal Government was not considering reverting the suspension of Munir Gwarzo as the director general of the Securities and Exchange Commission (SEC), insisting that the suspended chief executive is unfit to hold such a sensitive position. Adeosun disclosed this when she testified before the House Committee on Capital Market and other Institutions investigating the suspension of the SEC director-general and two other staff for alleged acts of misconduct. She confirmed to the committee of having received the report of the administrative panel of inquiry into the series of allegations leveled against Gwarzo, adding that she would forward her recommendations to President Muhammadu Buhari for assent. Speaking at the one-day investigative public hearing held by the House committee, the minister maintained that due process was followed before Gwarzo was suspended.

Wed, 31 Jan 2018
Despite lifting various segments of the official foreign exchange market by the Central Bank of Nigeria (CBN) on Monday, with fresh injection of $210 million, the Naira, on Tuesday, remained steadied against major foreign currencies, across forex markets and segments. For instance, the local currency, as of close of Tuesday trading activities settled at an unchanged rate of 305.70 per dollar, the same amount exchanged on Monday, but lower than N305.65 it closed on Friday at the official forex market. Read Also: Dangote’s Multi-Million Naira Unibadan Business School Ready Soon Also, at the parallel market, the Nigerian currency, stood steadied at N364 to the dollar, the same price it has been selling since last Tuesday, following a depreciated closing rate of N365 sold the previous day. But the Naira appreciated against the Pound sterling to close at N505 compared to N510 traded on Monday but declined further against the Euro with a new closing rate of N448 against N446 sold the previous day, but weaker than N505 and N445 sold respectively over the weekend at the unofficial forex market. At the Investors and Exporters (I&E) foreign exchange window, the Naira, declared no significant difference from what recorded on Monday as trading began at N359.91 to the Greenback, which was slightly better than N360 seen on Monday before traded high at 361.50, but eventually closed at 360.39 compared to 360.37 exchanged on the first trading day of the week. Meanwhile, the apex bank, on Monday, injected fresh $210m into various segments of the inter-bank foreign exchange market, after the sum of $304.4 million Retail Secondary Market Intervention sales in the inter-bank forex market on Friday. At Monday’s trading, the CBN offered the sum of $100m as wholesale interventions and allocated the sum of $55m to the Small and Medium Enterprises forex window. Customers requiring forex for Business/Personal Travel Allowances, tuition and medical fees, among others, equally got an allocation of $55m. The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, confirmed the sales, reiterating that the bank would sustain its interventions in the foreign exchange market. He expressed optimism that the value of the naira would continue to spike in the face of accretion to the foreign reserves and the attendant reduction in the country’s import bill. While also attributing the stability in the market to the bank’s transparency and cooperation of authorised dealers, he urged all dealers to continue to play by the rule, as the CBN would not hesitate to sanction any erring bank or dealer. Friday’s sales were in favour of interests in the agricultural, airlines, petroleum products, raw materials and machinery sectors.

Wed, 31 Jan 2018
The Enugu State House of Assembly has urged the Federal Government to immortalise the late Vice President Alex Ekwueme as a result of his contributions to the development of the country. The House at a plenary on Tuesday, observed a minute silence in honour of the departed soul of the fallen statesman who would be buried in his country home, Oko, in Aguata Local Government Area of Anambra State. Pouring encomiums on the late Ekwueme, who was one of the founding fathers of the Peoples Democratic Party (PDP), the lawmakers argued that it would be nice that a man of such stature and status should be immortalised for life by naming an institution after him in Igboland or anywhere else in Nigeria. Speaker of the State Assembly, Hon. Edward Ubosi, while urging his colleagues to observe a minute silence for the late Vice President, said that they were not mourning him but rather celebrating him whom he described as an achiever. The Speaker said, “We are not mourning Ekwueme, we are celebrating him. He was a silent achiever. He guided the country until his death.” A member representing Nkanu East Constituency, Hon. Paul Nnajiofor, who suggested that Ekwueme be immortalised, said that the former Vice President rendered service to his father land, pointing out that he was among those that designed Abuja as the Federal Capital because of his profession as an architect. In his own contribution, the member representing Udi South, Hon. Chuka Eneh, who said that he was not qualified to talk about the Colossus that Ekwueme was. He described him as a man of integrity, nationalist and an upright man whose legacies all should build on for a progressive and prosperous nation. In a related development, Speaker Ubosi mandated the House Committee Chairman on Education, Hon. Matthew Ugwueze, to investigate the allegations making the rounds that students of the State owned polytechnic, Institute of Management and Technology, IMT, is forcing students to pay hostel fee of N40,000.00 each, whether they are living in the hostel or not and report back to the House for appropriate action should the allegation be true. Meanwhile, the national summit on security being organised by the Senate has been postponed in honour of the late Ekwueme who will be buried on Saturday. The summit, scheduled to hold ‪on February 1 and 5 at the Banquet Hall of the State House was to be declared open by President Muhammadu Buhari. A statement by the Chairman, Senate ad-hoc committee on review of security infrastructure, who is also the Majority Leader, Sen. Ahmed Lawan, stated that the postponement was to honour the late former Vice President, and to also enable Federal legislators, particularly those from the South-East, participate fully in the burial programme of the late elder statement. Lawan said a new date for the summit would be announced in due course, and extend the committee’s apology to the invited dignitaries. The summit was organised to provide an all inclusive platform for heads of security and defence agencies, Governors, traditional rulers, socio-cultural groups, civil society organizations and others, with a view to finding solutions to acute and long term security challenges in the country.

Wed, 31 Jan 2018
The leadership of Civil Society Groups has blamed authorities of Federal University, Oye Ekiti (FUOYE) for not properly promoting and sensitising the public regarding achievementsThe post Civil Societies frown at low media reports of FUOYEs progress appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
The government of Rivers State has effectively put on course, the process for repositioning of all levels of the health sector in the state withThe post Were repositioning Rivers health sector for effective service delivery Govt appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
The Joint Action Committee of the three non academic staff unions of the Federal University of Technology Owerri, (FUTO) have threatened to shut downThe post SSANU, others plan to ground FUTO appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
A few days after Apostle Johnson Suleman released a video of Miss Stephanie Otobo apologising to him and saying she was hired by unnamed politiciansThe post Apostle Suleman asked me to make false confession against Nigerian govt, says Stephanie Otobo in new Video appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
The Federal Government has announced the establishment of a technological driven agricultural centre to provide up to date one stop data base of theThe post FG establishes Agric. Market Info Centre appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
The Edo State Chapter of the Peoples Democratic Party (PDP) Monday said the party will not participate in the Edo State Local Government Council ElectionThe post LG Polls: We will Not participate- Edo PDP appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
As the struggle for 2019 election intensifies, a chieftain of the Peoples Democratic Party (PDP), in Uturu Isiukwuato Local government Area of Abia State, ChiefThe post 2019: Atiku, Ekweremadu, best bet for PDP appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
Deputy National Chairman (South), of the All Progressives Congress (APC), Chief Olusegun Oni has congratulated Aare Gani Abiodun Adams, on his installation as the 15thThe post Oni, APC deputy chair congratulates Gani Adams on Aare Onakakanfo title appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
The last Egwu Uzu (Ofala festival) held at Ikwodiaku School grounds, Amikwo, Awka, recorded unprecedented firsts in the history of the people. The grand festivalThe post When Awka monarch honoured Spanish couple, 13 others appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 


Wed, 31 Jan 2018
Hundreds of Boko Haram terrorists are fleeing into remote communities in Borno and Yobe states after taking heavy poundings from Nigerian air and ground troops,The post Fleeing Boko Haram lurk in Borno, Yobe villages appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
The Nigerian Communications Commission (NCC) has said it would penalise and possibly revoke the licenses of any telecommunication operators implicated in masking international telephone calls.ItThe post NCC insists on revoking licences of erring telecoms operators appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
International oil price fell on Tuesday for a second day running as a stronger dollar dented risk-linked assets such as equities and other commodities, togetherThe post Oil falls on robust dollar, pushing the price below $69 a barrel, first time in six days appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
Nigeria plans to start building a $5.8 billion hydro-power plant in the eastern Mambila region this year, after it agrees on loan terms with ChinasThe post Nigeria set to build $5.8bn hydro-power plant in 2018- minister appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
The Nigerian National Petroleum Corporation, NNPC, Monday, said it is being owed N170.6 billion outstanding subsidy claims by the country. The NNPC in a statementThe post Nigeria owes NNPC N171bn subsidy claims Baru appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
Vicky Haastrup, Chairman, Seaport Terminal Operators Association of Nigeria (STOAN), says Nigeria will continue to rank poorly on the global Ease of Doing Business IndexThe post Infrastructural deficit frustrating ease of doing business in Nigeria STOAN appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
Union Bank, Nokia and Farmcrowdy showcase innovative solutions at the 2018 edition of Techpoint Build , gathering which unveiled best innovative technologies. Over 1000 investors,The post Union Bank, others showcase solutions at 2018 edition of Techpoint Build appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
Transcorp Hotels Plc has announced commencement o closed period when all its members and connected persons are barred from any form of transaction ion inThe post Transcorp Hotels commence closed period January 29 appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
The companys third quarter result for the period ended December 31 217 released y the Nigerian stock Exchange (NSE) on Monday showed that total assetsThe post Tripple G records total assets drops to N 1.79bn in Q3 appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
Stanbic IBTC Asset Management Limited ,in its commitment to enhancing living conditions s to invest in building local communities and enriching lives has strengthened theThe post Stanbic IBTC Imaan Fund lifts charities appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
.sustains loss position by 14% The result showed that revenue dropped d by 4 per cent to N44,942 million from N46,906 recorded in the sameThe post Interlinked technologies Q2 revenue drops by 4 per cent appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
.As NSE ASI gains 1.22% The bullish trend which greeted the equities market in the early weeks of January, returned on Monday , as investorsThe post Equities market opens week on positive note appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 31 Jan 2018
The services, the airline said, will cover Lagos-Kano-Lagos, Kano-Abuja-Kano, Lagos-Yola-Lagos and Abuja-Yola-Abuja. The carrier had earlier fixed February 19 for commencement of its flights fromThe post Air Peace set to launch Kano, Yola flights appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 
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