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Nigerian Newspaper: The Nation Headlines Today, Thursday 8th November, 2018

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Nigerian Newspaper: BusinessDay Headlines Today, Thursday 8th November, 2018

Buhari, Atiku clash over N30,000 minimum wage
Thu, 08 Nov 2018
Rather than subside, the row over the minimum wage keeps growing.President Muhammadu Buhari explained yesterday his position on what the least paid worker should earn.The Ms Ama Pepple committee set up to resolve the matter recommended N30,000.The President said he was fully committed to having a new National minimum Wage Act in the very near future when the committees report was presented to him on Tuesday.This was interpreted in the media to mean that Buhari planned to recommend N30,000 to the
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Why Buhari must keep his word
Thu, 08 Nov 2018
FORMER vice president and Peoples Democratic Party (PDP) presidential candidate Atiku Abubakar yesterday cautioned President Muhammadu Buhari against reneging on the implementation of the new minimum as recommended by the wage review committee.He said that a government must be trusted to keep its word.In a statement by his campaign office the Atiku Presidential Campaign Organisation (APCO) the former vice president said the President must keep faith with the agreement his government freely rea
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OPEC output cuts likely next year
Thu, 08 Nov 2018
A return to oil production cuts by the Organisation of Oil Exporting Countries (OPEC) and its allies cannot be ruled out next year, a senior OPEC source said yesterday.The move, the source explained, is to avert a possible supply glut that could weigh on prices.The hint came on a day that oil rebounded to $73 a barrel after falling to its lowest since August.The OPEC source was responding to a report by RussiasTASSnews agency that Russia and Saudi Arabia had started bilateral discussions over po
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Ekweremadu threatens to release video clip of assassination attempt
Thu, 08 Nov 2018
Deputy Senate President Ike Ekweremadu yesterday threatened to release video clips of how his house was invaded by alleged assassins on Tuesday.Ekweremadu said he may be forced to actualise his threat to release the video clip, if the Police fail to withdraw its claim that what happened in his house was a mere case of burglary.The Senate resolved to ask the police to do a thorough investigation of the alleged assassination attempt on Ekweremadu, his wife and son in the early hours of Tuesday.The
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Police confirm abduction of four Catholic priests in Delta
Thu, 08 Nov 2018
Four Catholic priests, including one from the Warri Archdiocese, were on Tuesday night kidnapped by unknown gunmen around the Urhonigbe axis in Edo State.The Nationgathered that the victims, including one identified as Rev. Father Emmanuel Obadjere of the Saint Williams Catholic Church, Ororokpe, Delta State, under the Warri Archdiocese, were on their way to Ekpoma in Edo State when they were waylaid and abducted by suspected armed hoodlums.The abduction was confirmed by the Delta State Police C
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Ekweremadu: We were on a mission to steal not assassination Suspect
Thu, 08 Nov 2018
Mohammed Yusuf, 25, the principal suspect in the alleged assassination attempt on Deputy Senate President Ike Ekweremadu, has confessed that they only were on a mission to steal and not for assassination.We did not go to the residence of Ekweremadu to assassinate him or anybody in the house, he said.He told newsmen that he had been stealing for five years without using gun and that his colleague, Dan Ali, escaped while he was caught.The confession of Yusuf may have corroborated the preliminary i
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Drunk police inspector sacked
Thu, 08 Nov 2018
A police officer yesterday got the boot for getting drunk on duty.The Inspector-General of Police (IGP), Ibrahim Idris, ordered that Inspector K.H. Kadima be tried when a video showing him drunk at Akowonjo in Alimosho Local Government Area of Lagos went viral.He was seen drunk on Instablog9ja.Another Inspector, Emmanuel Egba, who was seen with a bottle of beer at Ogunronbi Road, Idimu, Lagos, was warned.Egbas picture was published by a national daily in September.The Nation learnt that Idris di
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Arsenal no longer priority for Dangote
Thu, 08 Nov 2018
Africas richest man, Aliko Dangote, has said that he would turn his attention to buying another football club if Arsenal owner Stan Kroenke refuses to sell.Dangote does not think this is the right time to buy the Premier League club because he wants to complete one of the worlds largest oil refineries in Lagos, Nigeria.Read also:Dangote to sponsor 15 expatriates professors to enhance KUST academic standardIm very attached to Arsenal but if he wont sell, I might have to change, Dangote told Bloom
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Director faces N6.6m theft charged
Thu, 08 Nov 2018
A Badagry Chief Magistrates Court yesterday granted reprieve to a 43-year-old man, Odutayo Odufote, charged with N6.66 million theft.The accused, who is being tried on a two-count charge of stealing and obtaining money under false pretence, was released on a N2 million bail.He denied committing the offence.Read also:Why I killed, slept with my mother corpseChief Magistrate Patrick Adekomaiya, ordered him to produce two sureties in the like sum.Prosecutor Akpan Ikem told the court that the accuse
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How N28.2b Ecological Fund was looted, by AGF
Thu, 08 Nov 2018
Ecological fund is meant to fight disasters, but looters have dipped their hands into it, report Yusuf Alli and Moses Emorinken, AbujaSOME of the abuses of the multi-billion naira Ecological Fund have been laid bare by the Auditor-General of the Federation (AGF).About N28.286billion was deducted from the fund in 2016 for activities not related to development of natural resources, Mr. Anthony Ayime has said.About N74,888,718,334.59 was credited to the fund in 2016.The first tranche was N26, 286,
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Senate in rowdy session over move to probe NSIP, Sure-P
Thu, 08 Nov 2018
The Senate was yesterday thrown into rowdy session over plan to investigate alleged misuse of the National Social Intervention Programme (NSIP) and how the money allocated to fund the Subsidy Re-investment Programme (SURE-P) was spent.It followed a motion by Minority Leader Senator Biodun Olujimi on alleged deployment of funds under the Social Intervention Programme (SIP) to buy Permanent Voter Cards (PVC) to promote President Muhammadu Buharis presidential election bid.Mrs. Olujimi, who display
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Fed Govt opposes bail for suspected illegal arms importers
Thu, 08 Nov 2018
ATTORNEY-General of the Federation (AGF) Abubakar Malami (SAN) yesterday opposed bail applications by two businessmen, Ayogu James and Ifeuwa Moses, who were arraigned at the Federal High Court in Lagos for allegedly importing 1,570 pump action rifles illegally.Prosecuting counsel/director in the Federal Ministry of Justice Mr. Julius Ajakaiye said the alleged offence was grave.Defence counsel Mahmud Mogaji (SAN) and Wale Adesokan (SAN) urged the court to grant their clients bail on liberal term
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Umahi: 95 per cent of states cant pay N30, 000 minimum wage
Thu, 08 Nov 2018
Ebonyi State Governor David Umahi declared that 95 per cent of states cannot pay the proposed N30, 000 minimum wage.Umahi, who is the Chairman of the Southeast Governors Forum, said this while inaugurating a 36-member fact-finding committee to ascertain the mode of workers promotion arrears payment in states across the six geo-political zones of the states.According to Umahi, the payment of the N30, 000 can only be realised if the federation account allocation formula is reviewed to offer more e
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Insecurity: Sultan, Agwai, others preach unity, dialogue
Thu, 08 Nov 2018
SULTAN of Sokoto Abubakar Saad III and former Chief of Defence Staff Gen. Martins Lurther Agwai have called for continued dialogue among the various nationalitiesThe duo said dialogue remained the only way to entrench peace and unity in the country. They spoke yesterday at the symposium and book presentation in honour of Agwai, who turned 70.The book titled: How a congress of baboon made a general was written by Ms. Rebecca Agwai, daughter of the celebrator.The Sultan stressed the need for unity
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Nigeria saves billions through vaccination annually WHO
Thu, 08 Nov 2018
An official of World Health Organisation (WHO) Dr Larai Aliyu Tambuwal on Wednesday said Nigeria saves billions of naira annually in preventing sickness, disabilities and death through vaccination and routine immunization just as a total of 23 cases have been recorded globally according to 2018 report.She however, also observed with concern how Northeast and Northwest were lagging behind for the low level compliance to routine and supplementary immunization activities.The exercise expected to co
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264 persons died in Mambilla Plateau crisis Ishaku
Thu, 08 Nov 2018
Taraba state governor, Darius Ishaku, on Wednesday disclosed that 264 persons were confirmed to have been killed and property worth billions of naira destroyed during the 2017/2018 crisises on the Mambilla Plateau, Sadauna local government area of the State.Ishaku, who regretted the casualty figure, however, said: The Assessment Committee which visited 53 communities in the area, discovered that 264 people were killed and not the over 1000 as reported by the media.He added that 209 residents wer
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Suspected killers of Kaduna monarch arrested
Thu, 08 Nov 2018
Department of State Security (DSS) has arrested six persons suspected to have killed the Kaduna first class traditional ruler, Agom Adara, Dr. Maiwada Galadima.Kaduna State command Director of DSS, Mr. Mahmud Ningi who paraded the suspects in Kaduna on Wednesday recalled that, suspects abducted the late traditional ruler on the 19th of October and killed him a week after.However in his reaction to the arrest of the suspects, Kaduna State Governor Nasir El-Rufai has demanded swift conclusion of i
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NNPC records crude oil, gas export of $470m in August
Thu, 08 Nov 2018
The Nigerian National Petroleum Corporation (NNPC) has said that crude oil and gas export sale by the corporation in August 2018 was $470 million, indicating an upsurge of about $78million in relation to July oil and gas export figures of $391.91 million.NNPC Monthly Financial and Operations report for August 2018 released today in Abuja by the corporations Group General Manager, Group Public Affairs, Mr. Ndu Ughamadu, indicated that crude oil export sales contributed $337.62 million which repre
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Buhari Mourns Sunny Odogwu
Thu, 08 Nov 2018
President uhammadu Buhari has described the late Ide Ahaba of Asaba, Chief Sunny Odogwu as an accomplished business man and industrialist whose contribution to nation development serves as a source of inspiration to several Nigerians.In a statement signed by the Special Adviser to the President on Media and Publicity, Femi Adesina said the President is pained by the exit of Chief Odogwu and commiserated with the Odogwu family on the death of Chief Sunny Odogwu.The President also extended his hea
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NNPC earns $470m from crude oil, gas export in August
Thu, 08 Nov 2018
State-run oil firm Nigerian National Petroleum Corporation (NNPC) said it sold crude oil and gas to the international market and earned $470million in August this year. This is an upsurge of about $78million in relation to July oil and gas export figures of $391.91million.NNPC Monthly Financial and Operations Report for August 2018 released yesterday in Abuja by the corporations Group General Manager, Group Public Affairs, Mr. Ndu Ughamadu, indicated that crude oil export sales contributed $337.
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Ilesa New Town: reviving rural urbanisation
Thu, 08 Nov 2018
determined to increase the housing stock in Osun State, the administration of Governor Rauf Aregbesola has kicked off another New Town project. The flag-off, coming less than a month to the end of his tenure, is in fulfilment of one of his electoral promises. MUYIWA LUCAS writes that with this development, Ilesa township may be on its way to renewed urbanisation.For long, the sleepy town of Ilesa, Osun State, has remained ancient. A student of history visiting the town for the first time is not
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Insider threat costs Nigeria $194m
Thu, 08 Nov 2018
Insider threat from workers and management of organisations tops the cost of cybercrimes in Nigeria.A total of $194 million, representing 30 per cent of the $649 million lost to cybercrime last year was from insider threat, 2017 Cyber Security Report released in Lagos has shown.Titled: Demystifying the Africa Cyber Security Poverty Line, it was presented yesterday at the 9th Annual Payment Systems Conference organised by E-payment Providers Association of Nigeria (E-PPAN).The report also showed
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Critical questions to ask before selling land
Thu, 08 Nov 2018
The fact that you own a piece of land does not mean you need to rush into putting it up for sale. If you are a real estate professional, your wealth of experience might allow you to get away with this. However, if you do not operate within the real estate space, you need to make informed decisions and this can only happen if you are armed with information.Below are some important questions you need to ask:Is selling a house the same as selling land’Selling a house is not the same as selling
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How we grew IGR, by Edo, Kaduna, Kwara
Thu, 08 Nov 2018
Governors of Edo, Kaduna and Kwara states have explained how they were able to increase their states Internally Generated Revenue (IGR) in the last three years.Governor Abdulfatah Ahmed of Kwara said his government has achieved growth in its average monthly IGR from N600 million in 2015 to N2.2 billion in the first quarter of 2018.On his part, Gov. Nasir El-Rufai of Kaduna said the state annual IGR of N11.8 billion in 2015 has moved to a total of N26.5 billion in 2017, while Gov. Godwin Obaseki
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Agusto assigns Bbb-rating to Anchor Insurance
Thu, 08 Nov 2018
The rating assigned to Anchor Insurance Limited (Anchor or the Insurer) reflects its good profitability, decent investment management, good liquidity, moderate exposure to underwriting risks as well as an experienced management team. However, the rating is constrained by the Insurers low profitability, elevated underwriting expenses, and the dampening effects of macroeconomic uncertainties that have impacted the Insurers financial performance.The Insurance industrys performance has remained cons
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Stockbroking firms, Mauritius firm mull partnership on ICT
Thu, 08 Nov 2018
The Association of Stockbroking Houses of Nigeria (ASHON) and a leading Mauritius-based Information and Communications Technology (ICT) company, Acoyvis Limited, have started discussions on a partnership that will enhance technology governance in the Nigerian stockbroking industry.Acoyvis Limited has proposed an international workshop for ASHON to address global best practices in technology governance and the need to enhance oversight functions of board members of stockbroking firms and bring th
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LBIC gets approval to collect revenue
Thu, 08 Nov 2018
The Lagos Building Investment Company (LBIC) Plc has joined the league of financial institutions approved by Lagos State government to collect its revenues.The approval, which was contained in a letter issued by the State Treasury Office, reads: Following your recent application for absorption into Lagos State government EBS/RCM revenue generation programme and subsequent recommendation of our Revenue Consultant (Alpha Beta Consuling LLP) on the level of your banks compliance with necessary tech
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Firm to change real estate narrative
Thu, 08 Nov 2018
The Aimart International Nigeria Limited, a real estate development services and logistics firm, is poised to change the narrative in the real estate industry.Its Managing Director, Mrs. Bukola Iluyomade, disclosed this at the kick-off of Aimarts allocation of land to its subscribers and end-of-the-year land promo.According to her, there is a need to constantly enlighten the public about the prospects in real estate and how they can generate multiple strings of income by opening their eyes to in
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NDIC assures 100% payment of depositors in revoked MFBs
Thu, 08 Nov 2018
The Nigerian Deposit Insurance Commission, NDIC, yesterday said following the recent revoked licences of 154 MFBs and six PMBs by the Central Bank of Nigeria (CBN) due to their insolvency, from the record obtained so far, majority of the depositors especially in the MFBs, have less than N200,000 in their accounts, implying that the NDIC will cover 100 per cent of the deposited funds in the MFBs.Making this known at the NDIC special day at the ongoing Lagos international trade fair, the Managing
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