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

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MTN to refund $8b as CBN fines four banks N5.87b
Thu, 30 Aug 2018

BUY OR SELL OLD AND NEW CARS, PARTS, CAR MATERIALS AS CAR MART NG LAUNCH IN NIGERIA

MOBILE giant MTN Nigeria is to refund $8,134,312, 397.63 it illegally repatriated to the Central Bank of Nigeria (CBN), the apex bank said yesterday.

The CBN said it had imposed N5.87 billion sanctions on four banks, which are to refund $8,134,312, 397.63 for “flagrant violation of extant laws and regulations of Nigeria, including the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995 of the Federal Republic of Nigeria and the Foreign Exchange Manual, 2006”.

So far, the telco has paid N165 billion out of N330 billion fine, representing 60 per cent of total payment, according to the CEO of NCC, Prof Umar Danbatta.

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CBN’s Director, Corporate Communications, Isaac Okorafor, in a statement in Abuja, said the actions of the apex bank became necessary following allegations of remittance of foreign exchange (forex) with irregular Certificates of Capital Importation (CCIs) issued on behalf of some offshore investors of MTN Nigeria Communications Limited and subsequent investigations carried out by the apex bank in March this year.

The four lenders also came under the sledge hammer of the CBN for violations of extant forex regulations. The lenders are Standard Chartered Bank, Stanbic-IBTC, Citibank, and Diamond Bank.

Figures obtained from the CBN yesterday indicate that the highest fine of N2,470,604,767.13 was slammed on Standard Chartered Bank. Stanbic IBTC Nigeria was fined N1,885,852,847.45. Citibank Nigeria was penalised N1,265,541,562.31. Diamond Bank was directed to pay N250 million.

Okoroafor said the decision followed thorough investigations into the allegations of remittances by the four banks of forex with irregular certificates of CCIs issued on behalf of some offshore investors of MTN Nigeria Communications Limited.

He said $3,448,119,321.72 was repatriated by Standard Chartered Bank on the basis of the illegally issued CCIs. Similarly, $2,632,005,623.78, $1,766,263,212.75 and $348,914,501.30 were repatriated by Stanbic IBTC Nigeria, Citibank Nigeria and Diamond Bank Plc between 2007 and 2015. The CBN directed the banks to immediately refund the sums.

The apex bank’s investigation revealed that on account of illegal conversion of MTN shareholders’ loan to preference shares (interest free loan) of $399,594,146.00, $8,134,312,397.63 was illegally repatriated by the telco.

Okoroafor said investigations by the CBN took a while in order to carry out a thorough inquiry and give fair hearing to all parties involved. He advised all banks and multinational companies to adhere strictly to the provisions of all extant laws and regulations in their forex transactions. He warned that failure by the management of banks and companies to abide by existing guidelines would be appropriately sanctioned. Sanctions may include denial of access to local forex market.

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Ex-DSS boss still in custody
Thu, 30 Aug 2018
Security chief gets access to wivesFormer Department of State Services (DSS) Director-General Lawal Daura, who has been in custody since August 7 when he was sacked, has been allowed access to his two wives and some associates, The Nation learnt yesterday.Daura got the push after DSS operatives blocked the National Assembly, on his directive. But the former security chief, according to one of his associates who visited him, insists that he acted in the national interest.He also said the decision
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Buhari to May: 2019 polls will be free, fair, credible
Thu, 30 Aug 2018
President Muhammadu Buhari yesterday assured British Prime Minister Theresa May of his commitment to conducting free, fair and credible elections in 2019.The President spoke during a bilateral meeting with the visiting Prime Minister at the Presidential Villa, Abuja.Buhari, according to a statement by his Special Adviser on Media and Publicity, Femi Adesina, welcomed Britains support at strengthening democratic institutions in the country.He said: I assure you that Im all out for free, fair and
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APC decides on primary today
Thu, 30 Aug 2018
Anxious members await verdict The method of picking All Progressives Congress (APC) candidates for the general election will top discussions today at the National Executive Committee (NEC) meeting of the party in Abuja.Members of the second highest organ of the party are divided over whether to use direct primary of indirect primary.Indirect primary is the process whereby delagates will vote to pick candidates while direct primary will thorw the process open to all bonafide members of the party.
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I defected to APC to help stabilise Niger Delta, says Uduaghan
Thu, 30 Aug 2018
Former Delta State Governor Emmanuel Uduaghan has given the quest to advance the cause of peace and development in the Niger Delta as the reasons why he defected to the All Progressives Congress (APC).Uduaghan, who was governor on the platform of the Peoples Democratic Party (PDP), surfaced at the National caucus meeting of the APC at the Presidential Villa on Tuesday night to confirm speculations that he had joined the ruling party.He spoke to reporters after the meeting and issued a statement
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Flood alert in states as residents count losses
Thu, 30 Aug 2018
Agency warns Kebbi, Niger, Kwara, Kogi, Anambra, Delta, Bayelsa Houses submerged, 8000 birds swept away in EdoThese are not the best of times for those living flood-prone areas as the rains pound communities. The option is to relocate to safer havens for fear of the fury of floods as water levels in dams rise, reports OSAGIE OTABOR.MANY Nigerians have been rendered homeless as rains continue to pound communities for hours in some states. At the receiving end of the heavy downpour are residents
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FRSC assures Ogun residents of safer road
Thu, 30 Aug 2018
The Federal Road Safety Corps ( FRSC ) has assured the people of Ogun of its commitment to ensure safer roads to reduce carnage to the barest minimum.Mr Clement Oladele, the Sector Commander in the state, gave the assurance while speaking with the News Agency of Nigeria in Ota on Thursday.He said that the command had intensified efforts in its public enlightenment campaign and insisting that motorists comply with traffic rules and regulations.The sector commander said at least, 820 traffic offen
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Serena off Witthoeft to set up Venus clash
Thu, 30 Aug 2018
Serena Williams overpowered German Carina Witthoeft 6-2 6-2 to set up a third-round clash with big sister Venus at the U.S. Open on Wednesday.Williams sent down 13 aces and 30 winners to record her second consecutive straight sets victory at Flushing Meadows.The 36-year-old hunting a record-equaling 24th Grand Slam title, wrapped up the win in one hour and seven minutes.Its always such a great crowd at night. Its just amazing to play in front of this crowd, she said at court side after her victo
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Corps members in Niger take orientation in Kaduna NYSC
Thu, 30 Aug 2018
The National Youth Service Corps (NYSC) in Niger says its 2018 Batch B stream II members will take their orientation in Kaduna State.It said that this was based on directives to hold the orientation in cluster in 19 States due to the limited number of corps members in the batch across the country.This was contained in a statement by Mrs Theresa Arokoyo, the NYSC Coordinator in Niger and made available to the News Agency of Nigeria (NAN) on Wednesday in Minna.Read Also:NegotiatingNYSCThe corps me
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Flood hits Eight LGAs in Kano
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.The Executive Secretary of the agency, Alhaji Ali Bashir, disclosed this in an interview with the with our eporter in Kano on Thursday.Read Also:Flood kills 8000 birds in Edo, submerge housesHe said the team had visited seven out of the eight local government areas concer
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Buharis elevation of national interest above rule of lawlegal, constitutional
Thu, 30 Aug 2018
Project-2019 (P2019), a civil society organisation on Thursday said that President Muhammadu Buharis statement on national interest and the rule of law is legal and constitutional.Mr Wale Ogunade, Convener of the group told the News Agency of Nigeria (NAN) in Lagos, that President Buhari s statement was a restatement of the provisions of the laws of the Federal Republic of Nigeria.Read Also:Buhari to May: 2019 polls will be free, fair, credibleAccording to him, the Presidents statement takes its
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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 study, according a report published in the Open Science journal.The researchers showed the goats a pair of photos of the same person, one of them looking happy,
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Cashless Lagos Hackathon for launch in September
Thu, 30 Aug 2018
As part of its efforts to educate and enable Nigerians to reduce their reliance on cash, Visa, the global leader in payments, has announced the launch of the Cashless Lagos Hackathon in partnership with Lagos Innovates, an initiative of the Lagos State Employment Trust Fund (LSETF).The three-day event, which is scheduled to hold from 14 September until 16 September, will seek to digitize payments for Micro, Small and Medium Enterprises (MSMEs) and will be delivered by Passion Incubator (www.pass
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Any society that cant feed its people is a failure
Thu, 30 Aug 2018
The United States Ambassador to Nigeria, W. Stuart Symington, has said any society that cannot figure out where its people can find food is a failed society.He spoke yesterday in Ibadan, the Oyo State capital, while listening to the presentation of a group of young entrepreneurs under the Enable Youth Agriculture (EYA) programme of the International Institute of Tropical Agriculture (IITA).Through EYA, IITA has been supporting the dreams and aspirations of African youths, who are gathered under
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Plot against Super Eagles AFCON ticket thickens
Thu, 30 Aug 2018
Super Eagles of Nigeria will brighten their chances to qualify for the 2019 Africa Cup of Nation, not without out-playing British Bafana Bafanas coach, Stuart Baxters new plot to stop them from securing the ticket.It was gathered that the 65-year-old football manager, has plotted with his players to go all the way to defeat Libya in their Saturdays home game in the bid to consolidate on their away 2-0 win against Nigeria in Uyo.Baxter reckoned that a win against the table-top Libyans in Durban w
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Bridges in Nigeria: Lessons from Genoa
Thu, 30 Aug 2018
On August 14, a pillar supporting a bridge over the Polcevera River in Genoa Italy collapsed leading to the death of 43 people and the wounding of several others whose vehicles tumbled down from the bridge falling in some cases on people and houses bellow the bridge. To imagine that a 50 or so years old bridge will collapse in Italy with its history of expertise in road and bridge construction dating back to Roman times raises fears not only in Italy but in the entire world. As I listened to the
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A voice crying in the wilderness
Thu, 30 Aug 2018
THE was not taken away alone. Leah Sharibu, 15, was abducted from her school with over 100 other girls. It all happened on February 19 at the Government Girls Secondary School, Dapchi, Yobe State. The girls were in their dormitories when their abductors struck. Boko Haram insurgents carted them away in trucks, driving throughout the night until they got to their destination.Where they took the girls to remains unknown till today despite reports that the sects well known base, Sambisa Forest, has
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The magic of walking
Thu, 30 Aug 2018
WHEN last did you take a walk’ Yes, you heard me right; when last did you take a walk’Simple question’ So I thought, until this innocuous, everyday routine and ordinary activity sparked a huge row across the land. It was the subject of discussion everywhere in newsrooms, restrooms and staffrooms. This is not to mention the uproar it ignited at motor parks, beer parlours and seminar halls as well as in the social media jungle where many gladiators were tearing at one another.In tr
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Falana to leaders: you have contempt for rule of law
Thu, 30 Aug 2018
NBA slammed for being docileActivist-lawyer Mr. Femi Falana (SAN) said yesterday that leaders had contempt for rule of law.He blamed lawyers for not resisting disobedience of court orders.Falana recalled that in the past, the Nigerian Bar Association (NBA) shut down courts when the government disobeyed orders.He said today, the NBA has become comfortable with the violation of the rule of law.The respected SAN spoke at the ongoing Annual General Conference of the NBA in Abuja, with the theme: Tra
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Akpabio Ill assist Buhari fight poverty
Thu, 30 Aug 2018
Senator Godswill Akpabio has said that he will support President Muhammadu Buharin to generate jobs and eradicate poverty.Acknowleging the anti-corruption drive of the President, Akpabio said he would join in fighting its twin-brother which is poverty.I am joining the APC to stabilize the government and to assist the government to create employment opportunities for Nigerians so that we can fight the twin brother to corruption, which is poverty.Poverty creates corruption and corruption deepens p
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Sharia Court affirms 4-month-old babys paternity
Thu, 30 Aug 2018
A Kaduna Sharia Court sitting at Magajin Gari yesterday ruled that Ibrahim Musa was the father of the four-month-old baby girl delivered by his wife, Aisha Buhari.The News Agency of Nigeria (NAN) reports that Aisha had on July 2, dragged her husband before the court following his refusal to accept paternity of the baby she delivered.The Judge, Malam Dahiru Lawal, after listening to both parties and their witnesses, said that under Islamic law, Musa could not now deny paternity of the baby after
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Akwa Ibom 2019: Nobody can stop Emmanuels second term
Thu, 30 Aug 2018
Akwa Ibom State Governor Udom Emmanuel has unfolded his second term ambition. In this piece, Imam Imar contends that the defection of Senator Godswill Akpabio from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC) will not be a threat to the governors aspiration.Governor Udom Emmanuel of Akwa Ibom State made his public declaration for a second term as governor last week before a tumultuous crowd in Uyo, the state capital. The declaration before the impressive crowd and th
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I want to replace our non-performing 79-year old Rep
Thu, 30 Aug 2018
All Progressives Congress (APC) House of Representatives aspirant Akinlayo Kolawole speaks on his bid to represent Ekiti North Constituency II in this interview with reporters in Ado Ekiti, capital of Ekiti State. Excerpts:You just ventured into politics and you want to pick a ticket to the House of Representatives’I have been an active member of the party, though I have been playing underground. I came fully into the APC in January and shortly after, I unveiled my intention to contest for
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