NIGERIA NEWSPAPERS: TODAY'S THE DAILY TIMES NEWSPAPER HEADLINES [14 FEBRUARY, 2017].


Below are the headlines found on The Daily Times Online Newspaper for today, Wednesday, 14 February, 2017.

Wed, 14 Feb 2018
The Central Bank of Nigeria (CBN) is seeking the abolition of offshore banks operating in the country without been licenced locally, saying that such facilities serve as conduits for money laundering. An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction (or tax haven) that provides financial and legal advantages. The CBN Governor, Mr. Godwin Emefiele, made the request on Tuesday, at the two-day public hearing organised by the House Committee on Banking and Currency on a bill to amend the Banking and Other Financial Institutions Act (BOFIA) and other bills in Abuja. He said that the shell banks, apart from being used for money laundering, distort the banking system and are a problem to regulatory agencies. Emefiele, who was represented by the Director, Legal Services Department, Johnson Akinwunmi, said: “We wish to propose the introduction of new subsection 3(6) and (7) for the proscription of shell banks in response to the latest recommendations of the Financial Action Task Force (FATF) on money laundering. “Any bank or its subsidiaries without physical presence in the country where it is incorporated and licenced and is not affiliated to any financial services group that is subject to effective consolidated supervision shall not be allowed to operate in Nigeria and no Nigerian bank, orbits subsidiaries shall establish or continue any relationship with such bank or subsidiary.” Similarly, the CBN is also seeking additional powers to revoke licences of banks and the power to inject funds into a falling bank by way of equity participation up to a level that guarantees control by the CBN. The additional powers, according to the director, is to enable the CBN acquire equity investment institutions and its ability to ensure a sound financial system. The CBN also backed the House of Representatives in imposing stiffer penalties and terms of imprisonment of certain offences on erring commercial banks and their members of staff. But in his presentation, the Director of Legal/Board Secretary, Nigeria Deposit Insurance Corporation (NDIC), Belema Taribo, opposed the proposed fines, saying they were too high. On the issuance of licences, the NDIC proposed that the CBN should seek its consent before granting any application for banking licence, adding that “this is to enable the corporation have a prior evaluation of the applicants with regard to insurance of deposits.” Earlier, in his welcome address, the Chairman of the House Committee on Banking and Currency, Hon. Jones Onyereri, said increase in penalties to the bank operators would streamline the operations of such banks to conform to international best practices. He informed that the proposed amendments to the BOFIA Act 2017 was initiated by three lawmakers, namely, Hon Daniel Reyeneiju (PDP/Delta); Hon Betty Apiafi (PDP/Rivers) and Hon Jones Onyeriri (PDP/Imo). Some of the penalties in the 70 proposed amendments to the BOFIA Act 2017 include: a fine of N20 million on banks that fails to comply to the conditions of the licence, a fine of N20million on any director that fails to declare any property he/she owns that runs contrary to the Act; “A fine of N10 million against a director or manager that fails to keep a book of account and a fine of N2million on banks that fail to publish its annual report of its general meeting in two reputable national dailies among others.” Meanwhile, the CBN in a new circular has directed all Deposit Money Banks (DMBs) operating in the country to comply with the agreement of the Bankers Committee to begin sale of foreign exchange for invisibles at N360 to $1, as well halt collection of charges and fees on such forex sales. The circular, signed by the CBN’s director, Trade and Exchange Department, W.D. Gotring, titled, “Charges on the Sale of Foreign Exchange for Invisible Transactions”, ordered all banks to comply with the directive immediately. According to Gotring, “All authorised dealers are hereby informed that the charging of commissions on retail foreign exchange transactions such as business travel allowance (BTA), personal travel allowance (PTA) medical and school fees have been abolished.” The Bankers Committee, which is made up of chief executives of banks and regulators in the financial industry, rising from its meeting last week, agreed that customers buying foreign exchange from banks for the payment of school fees, medical bills or personal and business travel allowance are not to pay extra charges for the purchase.

Wed, 14 Feb 2018
Nobel laureate, Prof. Wole Soyinka, has said that President Muhammadu Buhari is under a trance, saying that the sooner the President got out of the trance, the better for the country Soyinka disclosed this on Tuesday while reacting to a question on the three things he would tell the President if he meets him, saying that, ” I will say Mr. President you are in a trance.” Asked the form of trance the President was in, the Nobel laureate said: “I don’t know. So many unforced errors. Take for instance, the suspended Executive Secretary of the National Health Insurance Scheme (NHIS) Usman Yusuf, reinstated by the President. What is that about? What is going on?” Soyinka had earlier held a press conference in Lagos on the state of the nation titled ‘Nomads and Nation: Valentine card or valedictory rites.’ The revered playwright also spoke on farmers, herdsmen clashes and called on relevant authorities to check the wave of attacks being perpetrated by armed herdsmen across the country. He observed that the phenomenon of herdsmen and farmers clashes is not new but an issue that has graduated to an alarming state in the last eight years. Soyinka also called for an organised resistance to the menace, describing the armed herdsmen as a new breed of Boko Haram and internal colonialists. He said, “The important thing is the consciousness of a need for organised resistance against the incursion of cows. “In Ogun State, we have formed a sort of informal organisation called OSHA, Ogun State Hunters Association and we intend to collaborate with similar movements, the police and the military.” Commending the state governments who have set up organisations to protect their citizens from attacks by the armed herdsmen, Soyinka said these organisations need to be taken seriously and well equipped to successfully disarm the armed herdsmen and prevent recurrent invasions. He said, “I wish to commend the governors in the various governors states who are now beginning to understand that they must start policing themselves. “If we want to take the phenomenon seriously, it will be to ensure that anytime the organisations see an armed herdsman, they report to the nearest police station. If by a certain time that group of armed herdsmen are not disarmed, then this organisation will move and disarm them.” The Nobel laureate said further that he is not happy with what he describes as the body language of the government in handling the matter. He also condemned the proposal for the establishment of cattle colony, insisting that ranching is the preferred option to resolving the crisis.

Wed, 14 Feb 2018
The federal government said it has so far supported the 36 states of the federation with N1.19 trillion naira since it assumed leadership in 2015. Vice President Yemi Osinbajo who disclosed this on Tuesday in Lokoja while declaring open, the first Kogi state Economic and Investment Summit, said the funds were made available to enable the states meet the challenges of shortage of funds for the execution of programmes in their respective states. Osibajo,explained that the funds had enabled some state governments to embark on capital expenditures as well as settle salary arrears owed workers. He said the funds were sourced through the excess crude account, the Paris Club refund, loans among others and given to the states. The Vice President further explained that parts of the funds were the entitlements of the state that they legally had access to, while some of them were loans to be repaid. The vice president noted that the present administration had the highest capital expenditures in two years, adding that these were evident in the ongoing railway line construction, road constructions, hydro power project. He said the summit came at the right time that the country was trying to reduce its dependence on oil and increase its non oil income with the promotion of agriculture and the abundant solid mineral resources across the country. Osinbajo said Kogi state is strategically located with vast mineral resources that could make it a hub of commercial activities, adding that the summit was capable of reinvigorating and inspiring the people. Kogi state governor, Alhaji Yahaya Bello, said the summit was packaged to re direct diversify the economy of the 27 years old state,and change it from its civil service state status to an industrialised one. He said his administration had in the last two years prepared the ground for economic and industrial breakthroughs for the state by solving the problems that had been hindering economic growth in the state. Bello said the state is now safe for investors and investments, adding that the problem of security had been tackled. He said, “We are changing the toga of a civil service state to an economic and commercially viable one and we want investors to collaborate with us and contribute to the prosperity of the state. “Kogi state is now open for business, we want to be signing MoU, I invite the private sector to collaborate with us in our bid to develop the state, Kogi state is for serious business”.

Wed, 14 Feb 2018
National leader of the All Progressives Congress (APC), Asiwaju Bola Tinubu, has said that former President Olusegun Obasanjo and ex-military President, Gen. Ibrahim Babangida, “are yesterdays men and should allow Nigeria to move on.” Tinubu, who came to the Presidential Villa in Abuja in company of the former interim national chairman of the party, Chief Bisi Akande, said that the reconciliatory assignment in the APC has started in earnest. Reacting to separate statements released by both former leaders, the APC leader said, “I don’t address those shadows. We should let our former presidents join retirees’ club and take pensions but they can participate in our politics if they are interested. “It is a free world but this freedom is not served a la carte but they should allow us to move our country forward. It is a challenge to every Nigerian.” Tinubu also disclosed that he has been given free hand in his assignment to reconcile all aggrieved members of the APC. Buhari had last week appointed Tinubu to lead the consultation, reconciliation and peace building efforts within the party. Speaking on his assignment to reconcile aggrieved members, Tinubu said, “Democracy is about conflict resolution process. You can’t do it without resolving conflicts. We can’t build it without understanding the conflicts and sources where we are coming from. But we want to leave the country with a legacy. It’s not about Mr. President. That is what he’s telling the country. I’m enjoying the challenges so far.” On what are the chances of APC during the 2019 elections, Tinubu said, “You are asking me an obvious question. I belong to this party. My commitment is to this party. We have a better chance and we are strongly determined to prosecute election in a most transparent and democratic manner and we will win.” In a related development, Buhari held a closed-door meeting with Tinubu and Akande. The President had earlier met with a former military Head of State, Gen. Abdulsalami Abubakar (rtd), at the Presidential Villa, Abuja. The meeting, held inside the Presidential Villa, Abuja, was the second meeting that has been held between the President and the two-party chieftains this year. The meeting took place after President Buhari received letters of Credence from the Ambassador of Niger to Nigeria, Mr Alat Mogaskia; the High Commissioner of Ghana, Alhaji Rashid Bawa and that of Apostolic Nuncio of the Holy Sea to Nigeria, Most Rev. Archbishop Antonio Guido Filipazzi. But Abdulsalami declined to speak to State House correspondents after the meeting with Buhari which lasted for less than one hour.

Wed, 14 Feb 2018
The Federal Airports Authority of Nigeria (FAAN) has automated the car park at the General Aviation Terminal (GAT) at the Murtala Muhammed Airport (MMA), Lagos. This is as FAAN said that the evacuation of disused aircraft at the nation’s airports would continue with the removal of unserviceable airplanes at the Malam Aminu Kano International Airport (MAKIA), Kano. Mrs. Henrietta Yakubu, General Manager, Corporate Communications, FAAN in an interview with our correspondent at the agency’s headquarters yesterday in Lagos said that within one month of the automation exercise, FAAN had recorded 68 per cent revenue increase. She explained that the automation exercise had blocked some of the loopholes in the system, stressing that FAAN was making more revenues than in the past from the GAT. She said that with the automation of the car park, rowdiness and massive traffic associated with the manual collection at the park had disappeared. She added that FAAN would review the performance of the exercise by the end of this quarter and make adjustments where necessary, but noted that so far, the new system had been in favour of both FAAN and the public. FAAN commenced the automation of the GAT car park January 8, 2018, which eliminated the manual collection of toll that had been in existence for about two decades. She said: “FAAN decided to overhaul the whole system and see how we could make it orderly because we were getting a lot of complaints from our passengers and airport users that they were not getting a space to park their vehicles. Then, we were wondering if all the people that park their vehicles at the car park are airport workers and travellers. Also, we are in an era of technology where people no longer do things manually, but automated. That was what prompted FAAN into doing the automation. “And since we started, there has been a lot of sanity at the car park, there is a lot of orderliness, progression. As soon as you go into the airport, you just go into the car park without any issues. In time past, there were lots of queues. Once you get into the airport, if you are not dropping, you are encouraged to go to the car park and do your business there, rather than parking on the road and create traffic.”

Wed, 14 Feb 2018
The Senator representing Kaduna Central Senatorial District, Shehu Sani, on Tuesday stormed the headquarters of the Joint Admissions and Matriculation Board in Bwari, Federal CapitalThe post Money swallowing snake: Sen. Sani storms JAMB HQ with snake charmers appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
Governor Abdulaziz Yari, the Chairman, Nigeria Governors Forum, on Monday said the creation of state police would help in addressing the spate of insecurity inThe post Nigerian governors move motion for state police appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
Hon Emma Oghene-Egoh is the member representing Amuwo Odofin Federal Constituency of Lagos State in the House of Representatives and a member of the PeoplesThe post If state police bill comes to NASS again, it will be passed Oghene-Egoh appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
The Chairman of the Presidential Advisory Committee against Corruption (PACAC), Prof Itse Sagay, has dismissed calls that youths will perform better than older people ifThe post You are shallow-minded if you think youths will be better as Nigeria President Sagay appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
Insists 2019 elections will be difficult to rig The Independent National Electoral Commission (INEC) has disassociated itself from the current videos and pictures in theThe post INEC disassociates self from images of under-aged voters appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
By Rinsola Abiola Emmanuel Macron made global headlines when he was elected the President of France as his emergence further legitimized the call for aThe post The Campaign for Youth Inclusion: Addressing Misconceptions and Making a Case for Inter-Generational Cooperation appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
Members of the presidential panel on the restructuring of the National Intelligence Agency (NIA), led by Ambassador Babagana Kingibe were on Tuesday, grilled by theThe post Reps grills Kingibe, others over alleged missing $202m NIA funds appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
*Party insists he must step down as South Africas President Mbeki urges Zuma to resign now South African President, Jacob Zuma, has agreed in principleThe post President Zuma agrees to resign in 6 months appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
*As Reps seek repatriation of stolen funds The United States Ambassador to Nigeria, Stuart Symington on Tuesday, cautioned that as the 2019 general elections drawThe post US envoy cautions Nigerians over 2019 polls appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
The Joint Admissions and Matriculation Board (JAMB) on Tuesday in Abuja vowed to prosecute the mysterious snake swallowing claim by an official of the board,The post N36m scam: Well prosecute snake swallowing claim official, says JAMB appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
Members of the the Enugu State House of Assembly, Tuesday, slammed commercial banks over what they called unwarranted charges being imposed on customers. This wasThe post Excess charges: Enugu House of Assembly slams banks, tasks CBN appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
The Senate, on Tuesday urged the Federal Government to as a matter of urgency place a ban on the importation of palm oil/ palm kernelThe post Senate urges FG to ban importation of palm oil, palm kernel appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
*Seeks more powers to revoke licences *Concurs with Reps on stiffer penalties for banks The Central Bank of Nigeria (CBN) is seeking the abolition ofThe post CBN canvasses abolishing offshore banks in Nigeria appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
governance, security, infrastructure, education, others top agenda President Muhammadu Buhari is among dignitaries listed to discuss the strategic importance of collaboration among key institutions toThe post Lagos-Kano Economic Summit: Buhari, Sanusi, Jega lead discussants appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
The NNPC Properties Ltd (NPL), the real estate management company of the NNPC, has commenced the recovery of the corporations landed property worth N100b acrossThe post NNPC to recover N100bn landed property appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
.. Stop commission, fees charges on forex sale The Central Bank of Nigeria (CBN) in a new circular has directed all Deposit Money Banks (DMBs)The post Banks must sell forex at N360/$1- CBN appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
..TCN wheeling capacity now 7124MW MD The Minister of Power, Works and Housing, Babatunde Raji Fashola has stated that Federal government will invest N39The post FG to invest N39mn on electric meter manufacturing Minister appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
The wife of Ondo State Governor, Arabinrin Betty Anyanwu-Akeredolu was honoured as the Cluster Advocacy Change Champion at the inauguration of Agric Gender- friendly PolicyThe post Akeredolu advocates gender-friendly policies for women farmers, wins award appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
Following reports that Amazon.com is planning to inagurate its own delivery service, which would directly compete with the U.S. package delivery companies, shares of UnitedThe post FedEX, UPS shares drop as Amazon prepares to launch delivery service appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
Valentines Day is upon us and most times, its not usually that easy deciding what to do for the love of your life, especially ifThe post 5 Thoughtful Things to Do For Bae This Valentines Day appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
.as Real eviction begins this Sunday Two days ago, the Big Brother Naija Housemates were asked to nominate two pairs they would love to leaveThe post #BBNaija: Team BamTeddy, Mina, Pritto others up for possible eviction appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
Spirit Music is pleased to announce the release of Idiebube, the debut single of gospel singer Believe Sustain today. The new single which features theThe post Spirit music releases Idiebube in honour of the memory of Eric Arubayi appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
African King of R&B and EME boss Banky W has an amazing Valentine planned out for some lucky fans this week as he rolls outThe post Banky-W to share season of love with fans appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
Meet and get to know Mildred Ehiguese, Miss Nigerias 41st Queen on this documented journey showcasing weekly on Miss Nigeria TV. Dont forget to subscribe,The post #MissNigeria Video: Life of the 41st Queen appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 

Wed, 14 Feb 2018
Emmanuel Macron made global headlines when he was elected the President of France as his emergence further legitimized the call for a generational shift inThe post The campaign for youth inclusion: Addressing misconceptions, making a case for inter-generational cooperation appeared first on Daily Times Nigeria. Nigeria News from Nigeria Newspapers 
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