NIGERIA NEWSPAPERS: TODAY’S THE NATION NEWSPAPER HEADLINES [27 AUGUST, 2018].

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Rivers Govt kicks as EFCC probes N117b transactions
Mon, 27 Aug 2018

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Detectives are probing about N117b suspicious transactions by the government of Rivers State in the last three years.

The huge cash was intermittently withdrawn over the counter by a state official designated for the purpose, Economic and Financial Crimes Commission (EFCC) sources said at the weekend.

There were indications that the withdrawals from the state accounts were laundered by some state officials.

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The state government yesterday described the probe as a “political witch-hunt” and vowed not to be intimidated.

Four suspects have been shortlisted for interrogation in connection with the massive withdrawals. They include an official in charge of Finance and Accounts at the Government House in Port Harcourt and a cashier.

The EFCC has detained a bank’s Managing Director (MD), who admitted that N5.2billion was realised as charges for the “controversial” transactions.

According to the sources, the withdrawals were made in tranches of N10million with as many as 50 cheques cashed in a day.

The sources said it was a case of “gross violation” of the Money Laundering (Prohibition) Act of 2011.

One of the sources said: “Based on intelligence report, the EFCC swung into action.

“Our findings indicated that the withdrawals were made in cash from the state accounts mostly by one person. There are no records of what the cash was used for. We are working on clues that it was diverted.

“The EFCC team has obtained all the records of the withdrawals, including date and time. For instance, on June 8, 2015 barely few days in government, about 45 cheques amounting to N450million were cashed over the counter for no justifiable purpose.

“Also, on June 9, 2015 about 50 cheques amounting to N500million were withdrawn. We will soon release the details of findings by our team.”

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CBNs 9% credit policy excites farmers
Mon, 27 Aug 2018

Farmers have applauded the nine per cent interest rate credit policy of the Central Bank of Nigeria (CBN) to the agriculture sector but called for prompt monitoring of the Commercial Banks to guarantee effective implementation

Under the new policy, agricultural, manufacturing and the sectors considered as growth and employment stimulating, can borrow long term as much as N10 billion at consolidated nine per cent interest rate.

The CBN released the new new credit policy, called Guidelines for Accessing Real Sector Support Facility (RSSF) through Cash Reserve Ratio (CRR) and Corporate Bonds on Thursday.

National President Rice Farmers Association of Nigeria (RIFAN) Alhaji Aminu Goronyo said that rice farmers under the CBN Anchor Borrowers Programme (ABP) had being enjoying the nine per cent lending rate since 2015.

Goronyo expressed optimism that the policy would help improve production of other agriculture commodities in the sector.

He said the nine per cent lending rate under the ABP facilitated the increase in rice production from between two million and 3.5 million tonnes to nine million tonnes annually.

He advised farmers to key into the policy to enable them benefit from the intervention.

“Before the single digit interest rate by the CBN, our production annually was not more than between 2 million and 3.5 million tonnes per annum but today, we are producing almost nine million tonnes because of that intervention.

“I am sure it will be the same for other commodities that will enjoy this intervention,’’ Goronyo said.

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Tributes as McCain dies
Mon, 27 Aug 2018
The family announced in a statement: Senator John Sidney McCain III died at 4:28 p.m. on August 25, 2018. With the Senator when he passed were his wife Cindy and their family. At his death, he had served the United States of America faithfully for sixty years.Trump, in a tweet on Saturday evening said: My deepest sympathies and respect go out to the family of Senator John McCain. Our hearts and prayers are with you!The late Arizona Republican, had organised his funeral, and close associates had
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State: its political witch-hunt
Mon, 27 Aug 2018
Rivers State Governor Nyesom Wike has said no official of the government will appear before the EFCC over its investigation until the Court of Appeal sets aside the 2007 judgment barring the commission from investigating the state.In a statement yesterday, the governors Special Assistant on Electronic Media, Simeon Nwakaudu quoted Wike as describing the EFCCs action as a political witch-hunt.We are not afraid of their probe and they have no power to probe us, Wike said, adding:No government offi
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Buhari: national interest should override personal liberty
Mon, 27 Aug 2018
President Muhammadu Buhari yesterday said the rule of Law must be subject to the supremacy of the nations security and national interest.Opening the 2018 Annual General Conference of the Nigerian Bar Association (NBA) in Abuja, he urged lawyers to work for national cohesion and unity as the 2019 elections approach.The President told the lawyers: Our apex court has had cause to adopt a position on this issue in this regard and it is now a matter of judicial recognition that; where national securi
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Ibadan obas absent as Olubadan celebrates 90
Mon, 27 Aug 2018
Eminent personalities, including first-class monarchs, political leaders and government officials yesterday poured encomiums on the 41st Olubadan of Ibadan, Oba Saliu Adetunji, as he concluded the week-long programmes marking his 90th birthday.They praised the celebrant for his sterling qualities and immense contributions to the development of Ibadan and humanity.But Ibadan obas yesterday said they were not invited to Oba Adetunjis birthday.One of the obas, who spoke in confidence, claimed that
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Cement, healthcare companies to raise N240b new capital
Mon, 27 Aug 2018
THE countrys largest cement and healthcare manufacturing companies are planning to raise N240 billion new capital to grow their businesses.The two largest cement companies Dangote Cement Plc and Lafarge Africa Plc and two leading healthcare companies Fidson Healthcare Plc and May & Baker Nigeria Plc have launched the new capital raisers. They are expected to conclude the supplementary issue by the fourth quarter of the year.Dangote Cement, Nigerias most capitalised quoted company and Afr
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Makarfi: PDP presidential ticket shouldnt be for money bag
Mon, 27 Aug 2018
The presidential ticket of the Peoples Demoratic Party (PDP) should not be for the highest bidder but for the person with integrity, an aspitant Senator Ahmed Makarfi, said yesterday in Lagos.Makarfi said contrary to certain opinions, money would not determine who picks the PDP ticket, and that money had never been a determinant factor in who became the President of Nigeria.He said: When did Nigeria start to produce Presidents because of resources’ Former Presidents Shehu Shagari, Olusegun
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Im not going to APGA, says Atiku
Mon, 27 Aug 2018
Former Vice President Atiku Abubakar said yesterday he is not defecting to the All Progressives Grand Alliance (APGA).There were speculations at the weekend that the former vice presidentwould leave the Peoples Democratic Party (PDP) in his bid for a presidential ticket.Atikureturned to the PDP from the All Progressives Congress (APC) this year.Atiku left the PDP in 2007 to contest for President on the ticket of the Action Congress (AC)He contested and lost the bid for the APC ticket in 2014 hav
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NBA blames institutional failure for insecurity
Mon, 27 Aug 2018
The Chief Justice of Nigeria (CJN), Justice Walter Onnoghen and President of the Nigerian Bar Association (NBA), Abubakar Mahmoud have urged politicians to play by the rules as the nation prepares for the next general elections.While Onnghen urged politicians to conduct themselves lawfully so as not to endanger the peace and stability of the country, Mahmoud appealed to political actors, including those holding the reins of power at all levels, to respect and remain faithful to the Constitution.
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Oyo 2019: APC, PDP, ADC in succession battle
Mon, 27 Aug 2018
The gale of defections has hit major political parties in Oyo State. This is affecting their 2019 permutations. No fewer than 32 aspirants are struggling for governorship tickets across the parties. Who succeeds Governor Abiola Ajimobi’ Southwest Bureau Chief BISI OLADELE examines the challenges confronting the parties ahead of next years election.Many voters are confused because of the gale of defections that has hit major political parties. The situation is much clustered in Oyo State whe
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Excitement at MTNs Pulse launch
Mon, 27 Aug 2018
It was a convergence of fun as thousands of kids converged at the Landmark Event Centre, Victoria Island, Lagos, for the launch of MTN Nigerias mPulse, which is targeted at Nigerian tweens and teens ranging from age nine to 16.The kids played physical games like life-sized Ludo, monopoly as well as virtual games.The children also expressed their creativity with plasticine just as wunderkinds like Waris Kareem of Waspa Art who showed off immense artistic skills.Also, there was a lot to eat as cup
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Cobhams, Falz, Adekunle Gold to perform at AMVCAs
Mon, 27 Aug 2018
Special performance by Niger-Delta Dance Troupe, SEKICome Saturday, September 1, song writer and producer, Cobhams Asuquo, rapper and song writer, Falz and highlife singer, Adekunle Gold will light up the stage at the sixth edition of the Africa Magic Viewers Choice Awards (AMVCAs).Cobhams who recently released the video to his hit single, One Hit, will captivate audiences with his powerful vocals while versatile rapper, Falz TheBahdGuy will bring his signature sound and high energy on stage per
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Femi Otedola hosts Seal and son
Mon, 27 Aug 2018
Soul musician and Grammy-award winner Seal and his son, Henry were over the weekend hosted to a dinner by oil magnate Femi Otedola in his house in Lagos.Posting pictures on his Instagram the billionaire made the revelation.Pleasure having world-renowned singer @Seal and his son Henry over for dinner at our home yesterday evening, Otedola wrote.In the picture, DJ Cuppy, Otedola, Seal and his son, Henry are seen at the dinner table.Last week, pictures of the British born singer of Nigerian origin
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Lagos residents get Real Deal Experience
Mon, 27 Aug 2018
In a continuation of its taking concerts to the people, Lagos residents on Saturday were treated to a fun time as the Lagos edition of the Real Deal Experience held at the Abesan mini stadium, Abesan Estate, Ipaja, Lagos.Attendees were treated to musical performances, comedy, games, role play as co-host Ifu Ennada and comedian De Don kept them engaged throughout the night.Street kings Mr Real and Slimcase thrilled the music lovers as they left the crowd asking for more via separate performances.
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Cobhams, Falz, Adekunle for AMVCAs Night
Mon, 27 Aug 2018
Song writer and producer, Cobhams Asuquo, rapper and song writer, Falz and highlife singer, Adekunle Gold will perform live at the sixth edition of the Africa Magic Viewers Choice Awards (AMVCAs).Asuquo who recently released the video to his hit single, One Hit, will captivate audiences with his powerful vocals while versatile rapper,at the forum in Lagos on on Saturday September 1.Falz TheBahdGuy, as gathered will bring his signature sound and high energy on stage performing some of his most lo
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Dance unlimited as music stars thrill residents @ Abesan
Mon, 27 Aug 2018
Lagos came alive over the weekend with fun and exciting moments at Legend Extra Stout hosted consumer engagement platform, the Real Deal Experience.Hundreds of residence in the state troop out en-mass for the flagship show which live performances had top notch Nigerian music artistes as highlight of the fun-day.The event which held on the 25th of August at Abesan mini stadium, Abesan Estate, Ipaja saw consumers treated to non-stop musical performances, hilarious stand-up comedy, funny and poetic
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Its official: Simi accepts acting debut in Kunle Afolayans Mokalik
Mon, 27 Aug 2018
Jamb Questiom crooner, Simisola Ogunleye, aka Simi, has accepted a role in Kunle Afolayans coming film, Mokalik (Mechanic).The agreement was formalised on Sunday, at the filmmakers office, in Lagos.Beaming with smiles, it is obvious that the sonorous singer, who returned with a Yes to Afolayans Golden Effects office after a week of studying the script, cannot wait to make her debut on the big screen.Taking to Instagram minutes later, she shared a voiceless video of herself seated beside Afolayan
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2019 Hyundai Elantra facelift revealed
Mon, 27 Aug 2018
Hyundai has revealed the 2019 Elantra facelift in the United States (US). The refreshed version of the sixth-gen model will go on sale in the US later this year and is likely to be launched in India in next year.The sixth-gen Elantra made its debut in South Korea in late 2015 as the Avante. It was followed by its world premiere in the US in early 2016.The updated 2019 Hyundai Elantra gets dramatic styling changes, to say the least. In fact, it wont be an understatement if we say that in terms of
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Ilori, Apampa urge underwriters to build trust
Mon, 27 Aug 2018
UNDERWRITERS have been urged tobuild Nigerianstrust in insurance penetration, experts have said.The experts, Mrs. Yetunde Ilori, the Director-General, Nigerian Insurers Association (NIA), and Mr. Moruf Apampa, the Managing Director/Chief Executive Officer, Sunu Assurance Plc, said this at the conference on Insurance and Pension in Lagos.They said since insurance business is about good faith, insurers must earn the trust of the people to boost insurance penetration.The reason Nigerians are neglec
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Tatas Jaguar to produce classic E-Type EV
Mon, 27 Aug 2018
The electric version of the classic Jaguar E-Type, especially modelled for Prince Harry to drive Meghan Markle to their wedding reception in May, will go into production at the Tata Motors Jaguar Land Rover factory in the United Kingdom, and will hit the roads by 2020, the company said.The sleek sports car, Jaguar E-Type Zero, will be converted to electric power at its Classic works facility in Coventry by Jaguar Classic, a unit of the company which restores vintage models, said JLR.However, the
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Will domestic airlines benefit from Single African market
Mon, 27 Aug 2018
Is Nigeria ready for the competition that will arise from the Single African Air Transport Market’ Though indigenous operators are opposed to it, the government and some stakeholders believe that domestic carriers will be better positioned to reap from the market. MUYIWA LUCAS reports.It was the gathering of African leaders in Addis Ababa, Ethiopia for the 30th Ordinary Session of the Assembly of Heads of State and Government of the African Union (AU). Among the burning issues determined at
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Toyota subsidiaries to form self-driving tech group
Mon, 27 Aug 2018
Several Toyota Group companies will form a joint-venture to develop self-driving technology, according to Japans Nikkei.By working together, the companies would reportedly be able to develop integrated packages of self-driving systems for future vehicles. Those packages would combine steering, braking and acceleration control with artificial intelligence technology.The joint venture is said to include Jtekt, Advics, Aisin Seiki and Denso, with the latter holding the majority stake. Nikkei report
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Daimler Trucks delivers 50,000th Freightliner units
Mon, 27 Aug 2018
Daimler Trucks reaches the mark of 50,000 vehicles sold in the US with its bestseller Freightliner New Cascadia since production started in January 2017.The 50,000th New Cascadia was handed over to the customer Cargo Transporters (Claremont, North Carolina).Currently, Cargo Transporters operates more than 550 Freightliner trucks, now including over 120 New Cascadia.The New Cascadia is the most successful truck for heavy transports on long haul routes in the North American market.Around four week
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Vehicles without number plates
Mon, 27 Aug 2018
Recently, I featured an article on Divers without Driver Licence, which is very common on our roads and fuelling the rate of accidents.In this article, I would like to draw the attention of the relevant government agencies and other Nigerians to the dangerously increasing trend of vehicles without plate numbers.It has become a common trend seeing commercial buses, cars, tricycles and motorcycles moving on intra city and inter-state roads without number plates, particularly at the back.Fundamenta
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Investors jostle for UBA ahead of interim dividend
Mon, 27 Aug 2018
United Bank for Africa (UBA) Plc has been the toast of the stock market in the past four weeks as investors sought to take positions ahead of the impending release of the audited half-year results and interim dividend of the commercial banking group.UBA was the most active stock last week with a turnover of 332.72 million shares valued at N2.68 billion in 978 deals, representing 34 per cent and 26.15 per cent of the total turnover volume and value traded respectively at the Nigerian Stock Exchan
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NCRIB chief advises insurers on industry growth
Mon, 27 Aug 2018
Brokers have advised insurers to focus on growing the industry as they prepare for the new recapitalisation regime.The brokers under the umbrella body of the Nigerian Council of Registered Insurance Brokers (NCRIB) spoke with reporters in Lagos.NCRIB President Shola Tinubu said they focus on how to boost the industry.He said the Council has put some committees in place to see how the new policy would affect their members, adding that some consumers were expressing concerns on how the policy woul
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Report sees Nigeria becoming fastest-growing hotel market
Mon, 27 Aug 2018
Nigerias hotel sector is expected to be the fastest-growing in Africa over the next five years, a report by PricewaterhouseCoopers (PwC), has said.According to the report which is the eighth edition of PwCs Hotels Outlook: 2018-2022, some new hotels are scheduled to be opened during this time, even as continued improvement in the domestic economy will also lead to faster growth in guest nights.The report stated that for the forecast period, the number of available hotel rooms in the country woul
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