Nigerian Newspaper: Thisday Headlines Today, Thursday 9th November, 2018

Nigerian Newspaper: Thisday Headlines Today, Thursday 9th November, 2018

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CBN, MTN Reach Tentative Agreement on $8bn Fines
Fri, 09 Nov 2018

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The Central Bank of Nigeria (CBN) and telecoms giant, MTN, have reached a tentative agreement on the $8 billion fines the apex bank imposed on the Nigerian subsidiary of the company, MTN Nigeria, for violating currency regulations, THISDAY learnt last night.

According to reliable sources, the MTN Group CEO and President, Mr. Rob Shuter, was in Abuja yesterday and met with the CBN Governor, Mr. Godwin Emefiele, to discuss the fines, which the South African Reserve Bank (SARB) has said could increase the risks to the country’s financial system.
Based on unassailable findings, said a source, there was an agreement that the CBN would grant the telecoms a substantial reduction in the fines.

Following the deal, the apex bank is to meet with the four banks affected by the hefty fines Friday.

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Reuters had reported that CBN emailed invitations thursday to the Nigeria heads of Standard Chartered, Citibank, Stanbic IBTC Bank and Diamond Bank to attend a meeting today.

CBN had accused South Africa-based MTN of violating currency regulations by sending $8.1 billion abroad.

In August, the apex bank ordered the company and its banks to repatriate the funds.

MTN and the banks involved have denied any wrongdoing and the banks want the central bank to refund the money charged to their accounts in the form of fines.

Reuters had said the CBN and the banks declined to comment on today’s meeting, adding that a spokeswoman for MTN told it she did not know of the proposed meeting.

Last week, a Lagos court adjourned a hearing on the $8.1 billion dispute between MTN and the CBN until December 4.

Reuters quoted Emefiele as having said he was optimistic the MTN issue could be resolved.

Nigeria is MTN’s biggest market, accounting for a third of the lender’s annual core profit, but has proved to be problematic in recent years.

In a separate case, MTN faces a $2 billion tax demand from Nigeria’s Attorney-General; a claim which the firm has said is without merit. The Lagos court yesterday adjourned the case against the attorney general until December 3.

Africa’s biggest telecoms firm has a market valuation of roughly $12 billion and the two disputes total $10.1 billion.

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FG Spends N3.5m Monthly to Feed El-Zakzaky, Says Lai Mohammed
Fri, 09 Nov 2018

The federal government has claimed it spends N3.5 million monthly to feed the detained leader of the Islamic Movement of Nigeria (IMN), Ibrahim el-Zakzaky.

This is coming as the outgoing United Kingdom High Commissioner to Nigeria, Paul Arkwright, Thursday appealed to protesting members of IMN and security agencies to always allow the rule of law guide their conducts.

Arkwright also denied the involvement of the British Government in the cancellation of the planned address of the British House of Lords by Gen. Theophilus Danjuma (rtd).

The Minister of Information and Culture, Lai Mohammed, made the claim on the feeding of IMN leader in a video that went viral on the internet Thursday.

The minister, who was apparently addressing journalists, was heard saying in the video that he was giving the journalists the information on an off-the-record basis to serve as a background to their reports.

But Oak Television released it to the internet, trending on social media early yesterday.

Mohammed, in the video, said it was wrong to liken what was happening to el-Zakzaky, whose followers have been engaging security agents in confrontation since his incarceration, to what happened to the late leader of Boko Haram, Yusuf.

He said the IMN leader was undergoing criminal prosecution in Kaduna State and the court had denied him bail.

The minister explained that instead of detaining him in a prison, the federal government decided to hold el-Zakzaky in a building belonging to the Department of State Services (DSS).

He said the Islamic cleric ate whatever he liked in detention.

“It costs the government about N3.5 million every month to feed him,” the minister declared.

Mohammed explained to them that he got the figure from the relevant government agencies upon enquiry.

At that point, the Minister of Transportation, Rotimi Amaechi, who was apparently briefing journalists alongside Mohammed, jokingly told him (Mohammed) that he (Amaechi) too was willing to be taken into custody.

Justifying why he volunteered the information on an off-the-record basis, the minister described the issue involving the IMN as a “sensitive” one.

“So, please, we don’t want to inflame passion. The issue is a very sensitive matter. But that is the situation,” the minister said.

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House Accuses Osinbajo of Illegal Approval of N5.8bn IDP Fund
Fri, 09 Nov 2018

Vice President Yemi Osinbajo has been indicted over alleged illegal approval of a mismanaged N5.8 billion North East Internally Displaced Persons (IDPs) intervention fund.

House Committee on Emergency and Disaster Preparedness chaired by Hon. Ali Isa, in its report Thursday noted that in contravention of constitutional provisions, Osinbajo approved the release of the sum of N5, 865, 671, 939.26 in June 2017 from the Consolidated Revenue Fund Account and the money was mismanaged by the National Emergency Management Agency (NEMA).

But in a swift reaction, NEMA Thursday rejected the report of the lawmakers, which indicted it of poor management of relief items meant for 16 states.

NEMA argued that some of the findings and conclusions presented by the House Committee did not reflect the facts and documents placed before it by NEMA.

This is coming as the House has resolved to investigate the conduct of the last primary elections conducted by the various political parties.

The recommendations of the Investigative hearing on the violation of public trust in the National Emergency Management Agency (NEMA) were adopted by the House of Representatives after it was considered in the committee of the whole.

According to the House, the release of the fund for food security in the North-east contravenes Section 80(4) of the 1999 constitution as amended which states that: “No money shall be withdrawn from the Consolidated Revenue Fund or any other public fund of the federation, except in the manner prescribed by the National Assembly.”

The lawmakers also alleged that it breached the provision that the National Assembly must approve all issuance of Eurobond from which the Minister of Finance and the Accountant General of the Federation directed the Central Bank of Nigeria to pay.

The committee also called for the dismissal and prosecution of the Director-General of NEMA, Mr. Mustapha Maihaja, over allegations of fraud, corruption and embezzlement of N33 billion Emergency Intervention Fund, as well as all the government officials involvement in the approval, processing, release and diversion of the fund.

Meanwhile, NEMA Thursday rejected the report of the lawmakers, which indicted it of poor management of relief items meant for 16 states.

NEMA argued that some of the findings and conclusions presented by the House Committee did not reflect the facts and documents placed before it by NEMA.

“We were shocked to hear some of the findings and conclusions presented by the Committee on the issues, which did not reflect the facts and documents placed before it by NEMA,” the agency said in a statement last night..

“On the Port Clearance and Transportation of Emergency Food Assistance by Chinese Government, the federal government received a total of 6,779 metric tonnes of rice for IDPs in the North East as donation by the Chinese Government. “This amounted to 271 containers, which arrived Apapa Ports between June and October 2017.

“The processes of securing duty exemption, waivers and other related issues took several months, but the total quantity was subsequently cleared from the Apapa Port, transported and delivered to NEMA warehouses in the North East. It was thereafter distributed to the IDPs in the States of Adamawa, Bauchi, Borno, Gombe, Taraba and Yobe,” NEMA explained.

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Buhari Declares State of Emergency on Water Sanitation
Fri, 09 Nov 2018
Omololu Ogunmade in Abuja President Muhammadu Buhari Thursday in Abuja declared a state of emergency on Nigeria’s water supply, sanitation and hygiene sector and advised state governments to do same. Making the declaration at the inauguration of the National Action Plan for Revitalisation of Water Supply, Sanitation and Hygiene (WASH) sector at the State House []The post Buhari Declares State of Emergency on Water Sanitation appeared first on THISDAYLIVE.
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Leah Sharibu: Don’t Pay Ransom to Boko Haram, CD Tells FG
Fri, 09 Nov 2018
Kayode Fasua The Campaign for Democracy (CD) Thursday warned the federal government against paying any ransom to secure the release of Leah Sharibu, the only remaining student of Girls Technical College, Dapchi, Yobe State, that is still being held by the Boko Haram insurgents. This is even as a newly inaugurated body for student theologians []The post Leah Sharibu: Don’t Pay Ransom to Boko Haram, CD Tells FG appeared first on THISDAYLIVE.
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Corruption: PDP Urges NIA, DSS, Interpol to Track Oshiomhole
Fri, 09 Nov 2018
Onyebuchi Ezigbo, Adedayo Akinwale, Mercy Apollos in Abuja and Adibe Emenyonu in Benin City The Peoples Democratic Party (PDP) has called on the National Intelligence Agency (NIA) and INTERPOL to help track down the National Chairman of the All Progressives Congress (APC), Adams Oshiomhole, believed to be on the run since his reported interrogation by []The post Corruption: PDP Urges NIA, DSS, Interpol to Track Oshiomhole appeared first on THISDAYLIVE.
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Customs Seizes N543.9m Contraband from Onne Port
Fri, 09 Nov 2018
Ernest Chinwo in Port Harcourt The Nigeria Customs Service (NCS) has said it generated N26,388,754,244.37 from duty paid on imported goods from August 16 till this month through its Area II Command, Onne, Rivers State. It said it also recorded 10 seizures of prohibited items with duty paid value (DPV) of N543,958,740 within the same []The post Customs Seizes N543.9m Contraband from Onne Port appeared first on THISDAYLIVE.
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Future of Africa Drowning in Mediterranean Sea, Ford Foundation Warns
Fri, 09 Nov 2018
Segun James As more Nigerian youths continue to die on the Mediterrean Sea in their search for greener pastures in Europe, the West Africa Regional Director of the Ford Foundation, Mr. Innocent Chukwuma has raised the alarm that unless the country’s leadership do something about it immediately, the future of Africa may all perish in []The post Future of Africa Drowning in Mediterranean Sea, Ford Foundation Warns appeared first on THISDAYLIVE.
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Emmanuel Seeks Partnership with Investors to Boost Akwa Ibom Economy
Fri, 09 Nov 2018
The Akwa Ibom State Governor, Mr. Udom Emmanuel, has again called on investors to take advantage of the available manpower, natural resources, as well as peace and security in the state to invest and expand the state’s economy. Emmanuel made the call while exchanging views with the Emir of Kano, Muhammadu Sanusi 11 who was []The post Emmanuel Seeks Partnership with Investors to Boost Akwa Ibom Economy appeared first on THISDAYLIVE.
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Amosun Absolves Self from Oshiomhole’s Ordeal
Fri, 09 Nov 2018
Omololu Ogunmade in Abuja Ogun State governor, lbikunle Amosun Thursday denied any involvement in the reported arrest of the National Chairman of the All Progressives Congress (APC), Mr. Adams Oshiomhole. Amosun met with President Muhammadu Buhari in the State House behind closed doors. Amosun and his Imo State counterpart, Rochas Okorocha, have engaged Oshiomhole in []The post Amosun Absolves Self from Oshiomhole’s Ordeal appeared first on THISDAYLIVE.
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Fayemi Orders Revocation of Market Stalls
Fri, 09 Nov 2018
Victor Ogunje in Ado Ekiti Following the inspection of facilities at the Ultra modern Oja Oba Market, Ado-Ekiti by Ekiti State Governor, Dr. Kayode Fayemi earlier this week, the governor has ordered revocation of allotted market stalls to prospective buyers. The market, which is almost 80 per cent completed was constructed by the administration of []The post Fayemi Orders Revocation of Market Stalls appeared first on THISDAYLIVE.
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