NIGERIA NEWSPAPERS: TODAY’S GUARDIAN NEWSPAPER HEADLINES [30 AUGUST, 2018].

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CBN uncovers serial fraud in four banks
Thu, 30 Aug 2018
Four commercial banks have been sanctioned by the Central Bank of Nigeria (CBN) for various forgeries in foreign exchange transactions between 2007 and 2015. For these infractions, they are to refund N5.87 billion to the apex bank.

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According to the CBN, the sanctions are essentially for “flagrant violation” of extant laws and regulations of the Federal Republic of Nigeria and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995, and the Foreign Exchange Manual 2006.The four banks are Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank.

CBN’s Director, Corporate Communications, Isaac Okorafor, said yesterday in Abuja that investigations specifically revealed that $3.45 billion was repatriated by Standard Chartered Bank on the basis of illegally issued Certificates of Capital Importation (CCIs).

Similarly, $2.63 billion, $1.76 billion and $348.9 million were repatriated by Stanbic IBTC Nigeria, Citibank Nigeria and Diamond Bank Plc between 2007 and 2015. Okorafor said the investigations by the CBN in March 2018 became necessary following allegations of remittances of foreign exchange with irregular CCIs issued on behalf of some offshore investors of MTN Nigeria Communications Limited.

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Already, the CBN has ordered the managements of the four banks and MTN Nigeria to immediately refund $8.13 billion illegally repatriated by the company to the coffers of the apex bank.Figures obtained from the CBN yesterday showed that the highest fine of N2.47 billion was slammed on Standard Chartered Bank, while Stanbic IBTC Nigeria got N1.88 billion.

Also, Citibank Nigeria was penalised to the tune of N1.26 billion, just as Diamond Bank was directed to pay N250 million for the breaches.The CBN investigation further revealed that on account of the illegal conversion of MTN shareholders’ loan to preference shares (interest free loan) worth $399.5million, $8.13 billion was illegally repatriated by the company.

Okorafor, who said the investigations took a while to ensure a thorough inquiry and give fair hearing to all parties involved, advised all banks and multinational companies in Nigeria to adhere strictly to the provisions of all extant laws and regulations in their foreign exchange transactions.

He warned that failure by the management of banks and companies to abide by the existing guidelines would attract sanctions which may include denial of access to the Nigerian foreign exchange market.

A top official of MTN, who pleaded anonymity, told The Guardian that the CBN was yet to officially send any document to the company on the matter.The official, who said the South African firm only saw the information online, added that the telecommunications firm might need to wait for an official letter from the apex bank before giving its side of the matter.

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Tokyo shares end flat ahead of US data
Thu, 30 Aug 2018
Tokyo stocks ended flat Thursday, trimming earlier gains as investors locked in profits ahead of new data on the US economy.
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South Korea’s Moon replaces defence chief in cabinet reshuffle
Thu, 30 Aug 2018
South Korean President Moon Jae-in on Thursday replaced his defence chief and four other ministers in a cabinet reshuffle after falling approval ratings in recent weeks.
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China slams Trump’s ‘irresponsible and absurd logic’ on N. Korea
Thu, 30 Aug 2018
China on Thursday derided the “irresponsible and absurd logic” of the United States after President Donald Trump accused Beijing of making Washington’s relationship with North Korea more difficult.
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Beauty Standards Implying Small Breasts Are “Physical Defect” Sparks Outrage
Thu, 30 Aug 2018
A billboard advert which implied that having small breasts is a ‘physical defect’ has sparked outrage among Russian citizens. The billboard which was put up by a construction company Akvilon Invest shows a woman who is measuring her chest with a tape looking horrified with its message stating ‘We’ve got small prices and a lot []
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Kwankwaso supporters dump PDP for APC, burn red caps
Thu, 30 Aug 2018
Some members of Kwankwasiyya group have dumped Nigeria Opposition party, the Peoples Democratic Party (PDP) for the ruling party, All Progressives Congress (APC). The defectors denounced their support for the national leader of Kwankwasiyya group, Senator Rabi’u Musa Kwankwaso. Thousands of Kwankwaso supporters burned the red caps that symbolise of the Kwankwasiyya movement signalling their []
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Bale can fill Ronaldo boots at Real, says Wales boss Giggs
Thu, 30 Aug 2018
Gareth Bale can cope with the pressure of replacing Cristiano Ronaldo as the star man at Real Madrid, says his Wales boss Ryan Giggs.
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Mogherini urges EU to take ‘more responsibility’ on migrant mission
Thu, 30 Aug 2018
EU foreign policy chief Federica Mogherini on Thursday urged member states to “take more responsibility” and ensure the bloc’s migrant rescue operation continues to fight human trafficking in the Mediterranean.
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Nigeria orders South Africa’s MTN to refund $8.13 bln
Thu, 30 Aug 2018
Nigeria’s central bank has ordered South African telecoms giant MTN to refund $8.13 billion (6.96 billion euros) that it allegedly illegally repatriated and fined four banks involved in the transfer.
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Nadal speeds through, Wawrinka and del Potro too
Thu, 30 Aug 2018
World number one and defending champion Rafael Nadal steamed into the third round on another scorching day at the US Open on Wednesday with a straight-sets win over Vasek Pospisil.
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Nervous Bolt prepares for football debut
Thu, 30 Aug 2018
Usain Bolt is set to get a first taste of competitive football on Friday in a much-hyped game, but the sprint superstar admits he is nervous with his fitness levels not up to scratch.
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Serena, Venus to meet for 30th time at US Open
Thu, 30 Aug 2018
Serena and Venus Williams will clash for the 30th time on Friday with a place in the last 16 of the US Open at stake.
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The Assembly Hub Kicks Off It’s Creative Class Programs
Thu, 30 Aug 2018
The Creative Class is designed to accelerate entrepreneurs in the fashion and creative sector with the essential knowledge and tools they require to launch and grow a creative enterprise. The program will run from September to October 2018 and will provide a platform for entrepreneurs and emerging talent to attend a curation of Masterclasses and []
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Verdasco halts Murray’s Grand Slam return at US Open
Thu, 30 Aug 2018
Andy Murray’s first Grand Slam in more than a year ended with a second-round exit at the US Open, where he fell in four sets to Spain’s Fernando Verdasco on Wednesday.
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CBN fines 4 banks N5.87bn over foreign exchange illegal deals
Thu, 30 Aug 2018
The Central Bank of Nigeria (CBN) on Wednesday imposed a N5.87 billion fine on Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank over alleged irregularities
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UN chief thanks Obasanjo for smooth transition in Liberia
Thu, 30 Aug 2018
UN Secretary-General Antonio Guterres has expressed gratitude to former Nigeria’s President Olusegun Obasanjo for his mediation role in ensuring smooth political transition in Liberia.
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Flood hits 8 local government areas in Kano state
Thu, 30 Aug 2018
Kano State Emergency Relief and Rehabilitation Agency (SERERA) says it has dispatched personnel to eight local government areas of the state recently affected by flood to assessing the damage caused by the disaster in the areas.
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Research Reveals Goats Can Distinguish Happy Faces From Angry Ones
Thu, 30 Aug 2018
A new study shows that goats prefer a happy human face instead of an angry one, which suggests such socio-cognitive ability is more widespread in the animal kingdom than previously assumed. The research, conducted by scientists from the British Royal Society to ascertain goats’ ability to understand human social cues, used 35 goats for the []
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Healthy Foods Suitable For Children
Thu, 30 Aug 2018
There is so much pressure to eat unhealthy junk foods and feed them to children as well. There is the busy work schedule that parents have, the mouthwatering advertisement on TV showcasing tempting, mouth-watering meals to enjoy and order at the snap of the fingers and not to forget the fast food at every corner []
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Queen Cleopatra: Did You Know These Things About Her
Thu, 30 Aug 2018
Queen Cleopatra is known as one of the greatest seductresses ever. While books and films of her great seductive powers are in existence, she was more than that to the Egyptians and the ancient world: 1. Cleopatra was born in Alexandria, Egypt to the Macedonian Greek dynasty in 69BC and was a descendant of its []
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Understanding the proposed Katsina refinery
Thu, 30 Aug 2018
The fact that the proposed new refinery in Katsina State is private-sector driven makes it acceptable under a new thinking that the private sector should be involved in running refineries in Nigeria, especially, against the backdrop that the monopoly of refinery business in Nigeria through the corruptible state-owned NNPC has not worked.
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How Buhari lost control of northern votes
Thu, 30 Aug 2018
As campaigns for next year’s election gather momentum, a Peoples Democratic Party (PDP) presidential aspirant, Kabiru Tanimu Turaki, has explained how the incumbent, President Muhammadu Buhari, failed to meet the expectations of northern electorate, insisting that he can no longer garner majority votes in the zone as he did in previous elections.
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Suspected gunmen kill eight in GUARDIAN NEWSPAPER HEADLINESPlateau, two relatives in Ondo by NSCDC officer
Thu, 30 Aug 2018
It was a tragedy in Abonong Village in Foron District of Barkin Ladi Local Council of Plateau State when suspected gunmen on Tuesday burnt to death a pastor of Church of Christ in Nations (COCIN), Rev. Adamu Gyang Wurim; his wife and three their children while asleep.
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Cross River government, lawmakers disagree over changes in 2018 budget for MDAs
Thu, 30 Aug 2018
The Cross River State government and the House of Assembly are heading for collusion following alleged alteration of the state’s 2018 budget of some ministries, departments and agencies (MDAs) without recourse to the lawmakers.
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Lafarge Africa plans EGM, seeks shareholders’ nod to raise N90b fresh fund
Thu, 30 Aug 2018
The board of Lafarge Africa Plc, on Monday, wrote the Nigerian Stock Exchange (NSE), announcing plans for an Extra-Ordinary General Meeting (EGM), on September 25, 2018, in Lagos, to authorise the directors to raise up to N90billion in fresh capital by way of rights to existing shareholders.
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Invisible hands that produced winners in Imo council poll
Thu, 30 Aug 2018
Against all odds, the Imo State local council election have held and winners declared. There were no losers, but those that declined. Prior to the election, there were serious hues and cries, countless intrigues and verbal attacks from opposition parties on the ruling All Progressives Congress….
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Buhari will treat Electoral Act Amendment Bill this week, says Enang
Thu, 30 Aug 2018
President Muhammadu Buhari will attend to the Electoral Act Amendment Bill before the expiration of the 30 days constitutional provision, the presidency has assured.Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, said the presidency ‘will do the needful before the bill expires.
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Agency raises flood alarm in seven states
Thu, 30 Aug 2018
Nigeria Hydrological Services Agency (NIHSA) has warned Nigerians living by the banks of River Niger and its floodplains to immediately relocate over imminent flooding.The agency gave the warning yesterday in Abuja in a statement signed by its director of Engineering Hydrology, Clement Nze.
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Your not signing PIGB unreasonable, stakeholders tell Buhari
Thu, 30 Aug 2018
On some of the issues raised about the piece of legislation, industry analysts claimed that the All Progressives Congress (APC) administration was never sincere about reforming the sector in the first place.Former Vice President Atiku Abubakar described the action as a grave error.
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Government to train 2,500 amnesty recipients, employ 2000
Thu, 30 Aug 2018
The Federal Government has disclosed of plans to train 2,500 beneficiaries of the Presidential Amnesty Programme and employ 2000 in the fishing sector.Special Adviser to the President on Niger Delta Affairs and coordinator of the programme, Prof. Charles Dokubo….
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NIS urges passport applicants to use online portal
Thu, 30 Aug 2018
The Nigeria Immigration Service (NIS) yesterday charged passport applicants to use its online application and payment portal to reduce the stress and long hours of waiting to process the document.
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ITUC scribe, Brazil trade union pay solidarity visit to Lula in prison
Thu, 30 Aug 2018
The General Secretary of International Trade Union Confederation (ITUC), Sharan Burrow, and President of Brazil’s largest trade union centre, popularly called, ‘Unified Workers’ Central (CUT)’, Wagner Freitas, have visited former Brazilian President Lula da Silva, at the Curitiba police prison.
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FG alleges diversion of school feeding funds in Benue State
Thu, 30 Aug 2018
The Federal Government has alleged that funds meant for the Home-Grown School Feeding Programme were being diverted by the Benue State office of the programme.Special Adviser to the President on Social Investment Programme, Hajiya Miriam Uwuais,…
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Fayemi hires 35 lawyers for Ekiti election petition tribunal
Thu, 30 Aug 2018
Ekiti State Governor elect, Kayode Fayemi, yesterday filed his defence against Peoples Democratic Party (PDP)’s candidate and outgoing Deputy Governor of the state, Prof. Kolapo Olusola Eleka.
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Under-pressure Man United prepares for must-win clash against Burnley
Thu, 30 Aug 2018
Under-pressure Manchester United manager Jose Mourinho took a back seat as he left the club’s training complex yesterday afternoon as he battles to keep his job at Old Trafford. Mourinho sat behind his chauffeur as he travelled from the AON Training Complex back to his Lowry Hotel base following training.
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Uduaghan defects to APC, cites Buhari’s engagement in Niger Delta, others
Thu, 30 Aug 2018
vernor of Delta State, Emmanuel Ewetan Uduaghan, yesterday announced his defection from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC).This came as former Senate Minority Leader, Godswil Akpabio, said President Muhammadu Buhari’s integrity has endeared him to the masses….
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Nigeria’s elite use power against common interest, says Moghalu
Thu, 30 Aug 2018
Former deputy governor of the Central Bank of Nigeria (CBN), Prof. Kingsley Moghalu, has said that Nigeria’s ruling elite use power against the collective interest of citizens. The 2019 presidential aspirant on the platform of Young Progressives Party (YPP) stated this in Calabar, Cross River State…
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Elumelu calls for urgent passage of healthcare bill
Thu, 30 Aug 2018
Chairman of Heirs Holdings, Tony Elumelu, has called for urgent passage of the healthcare bill into law, to help alleviate the enormous health challenges in the country.Speaking during the commissioning of Avon Dialysis Centre in Lagos yesterday,
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