Today’s Punch Newspaper Headlines, Thursday 3rd January 2019

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Today’s Punch Newspaper Headlines, Thursday 3rd January 2019

Court hears residents suit against Lekki Gardens Jan 8
Thu, 03 Jan 2019
Oladimeji Ramon Hearing will commence on January 8 in the suit filed by 20 homeowners against the Chairman of Lekki Gardens, Richard Nyong, and one of his estate development companies, Lekki Gardens Limited. In the suit filed through their counsel, Advocate Law Practice, before the Lagos State High Court, the plaintiffs accused Nyong and his
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Issues to headline judiciary in 2019
Thu, 03 Jan 2019
For the judiciary, like the other arms of government, 2019 will be eventful. ADE ADESOMOJU and OLADIMEJI RAMON look at some of the issues that will dominate the judiciary in the new year Pre-election cases: The election year is here, and many are already anxious about what the outcome of many pre-election cases pending before
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Atiku paying $90,000 monthly to American to give fake news BMO
Thu, 03 Jan 2019
Kamarudeen Ogundele, Abuja The Buhari Media Organisation says the Peoples Democratic Partys presidential candidate, Atiku Abubakar, has hired an American lobbyist for $90,000 monthly to be releasing fake news capable of threatening national security. It alleged that the slew of fake news, especially on social media, targeted at the Nigerian military was the handiwork of
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PMBCO asks Atiku to quit presidential race for lying
Thu, 03 Jan 2019
Kamarudeen Ogundele, Abuja The President Muhammadu Buhari Campaign Organisation has asked the presidential candidate of the Peoples Democratic Party, Atiku Abubakar, to withdraw from the election. The organisation based their call on the allegation by the Atiku Campaign Organisation that members of the family of the President owned substantial shares in Etisalat and Keystone Bank.
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Why I defected to PDP Ortom
Thu, 03 Jan 2019
Governor Samuel Ortom has said he chose to pursue his governorship ambition on the platform of the Peoples Democratic Party because it was a more credible alternative for him to achieve his policies. Ortom stated this in Makurdi, during the inauguration of his governorship campaign. The governor, who won his election on the platform of
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Imo people wont support gov candidates with stolen tickets Okorocha
Thu, 03 Jan 2019
Chidiebube Okeoma, Owerri Imo State Governor, Rochas Okorocha, on Wednesday said the people of the state would neither support nor vote for any governorship candidate who was brandishing a stolen ticket. This was contained in a statement made available to journalists in Owerri, the state capital, by the governors Chief Press Secretary, Sam Onwuemeodo. He
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I will be governor for everybody Sanwo-Olu
Thu, 03 Jan 2019
Samson Folarin The governorship candidate of the All Progressives Congress in Lagos State, Mr Babajide Sanwo-Olu, has promised to be fair to all residents and indigenes of the state. He spoke during a consultative meeting with a group, Committee of Indigenous Associations of Lagos State, at the Awori House, Oregun, Ikeja. A statement on Wednesday
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Perceived regulatory challenges reduced foreign investment Stanbic IBTC
Thu, 03 Jan 2019
Feyisayo Popoola The Chief Executive, Stanbic IBTC Stockbrokers Limited, Mrs Titi Ogungbesan, says perceived private sector challenges with regulators reduced foreign investment in the capital market. Ogungbesan said in an interview with journalists that stifled consumer spending also led to more caution and the withdrawals by foreign portfolio investors in the market. She noted that
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Vitafoam records improved performance as profit rises
Thu, 03 Jan 2019
Feyisayo Popoola Vitafoam Nigeria Plc said it had seen an increase in the demand for its shares as it reported a net profit of N601.92m in the 2018 financial year, compared to a loss of N127.69m in the previous year. The firm recorded a 10.39 per cent increase in its revenue from N17.70bn in 2017
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FMDQ launches market for fixed income trading
Thu, 03 Jan 2019
FMDQ OTC Securities Exchange has launched what it called Dealing Member (Specialists) Market for trading in fixed income with banks in the Nigerian debt capital market. The FMDQ, in its December 2018 newsletter, said the launch was in line with its agenda to foster market integration, improve network effects and promote liquidity in the Nigerian
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Dangote staff co-operative declares N71.55m dividend
Thu, 03 Jan 2019
Dangote Group Staff Multi-Purpose Co-Operative Society Limited says it will pay its members N71.55m dividend for the 2017 financial year. The President, DANCOOPS, Mr Olabode Ojo, while speaking at the groups Annual General Meeting in Lagos, said despite operational challenges faced during the period, the dividend was 17 per cent above the dividend paid in
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Stock market: Investors lose N134.4bn on first trading day
Thu, 03 Jan 2019
Feyisayo Popoola Equities listed on the Nigerian Stock Exchange opened the year on a negative note as investors lost N134.4bn at the close of trading on Wednesday, the first trading day of the year. The market capitalisation of equities listed on the Exchange dropped from N11.720tn on December 31, 2018, to N11.586tn on January 2,
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Pilots, engineers ask FG to quicken inauguration of Nigeria Air
Thu, 03 Jan 2019
call for review of training policy Maureen Ihua-Maduenyi The National Association of Aircraft Pilots and Engineers has asked the Federal Government to quicken the inauguration of Nigeria Air. The association said the Federal Government should quickly remove all obstacles on the path of the new national carrier so that it could become operational. The urgent
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FG disburses N25bn out of N500bn housing fund
Thu, 03 Jan 2019
Ifeanyi Onuba, Abuja Out of the N500bn earmarked to address the housing deficit under the Family Homes Fund Programme, the Federal Government has disbursed the sum of N25bn. The Minister of Finance, Mrs Zainab Ahmed, who confirmed the figure in Abuja explained that more of the fund was being processed and would be released soon.
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Forbes ranks Nigeria 110th best country for business
Thu, 03 Jan 2019
Samson Folarin Nigeria has been rated the 110th best country for business in the world in 2019, out of 161 graded countries. Top on the list are United Kingdom (1), Sweden (2), Hong Kong (3), Netherlands (4), New Zealand (5) and Canada (6). The United States of America is rated 17th, below Ireland and Finland.
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Securing sustainable funding for export business
Thu, 03 Jan 2019
Ifeanyi Onuba, Abuja Export business requires sustainable funding over a period of time. The amount of money needed for export is largely dependent on your product and export destination. It also includes components like marketing and market access, as well as direct and indirect working capital. As an exporter you have to make sure you
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CBN to drive development finance for SMEs
Thu, 03 Jan 2019
Nike Popoola In continued recognition of its role as an agent of development, the Central Bank of Nigeria said it would invigorate its development finance activities. This, it added, was aimed at ensuring the nations self-sufficiency to reduce Nigerias excessive dependence on imports. The CBN Governor, Godwin Emefiele, said, We have maintained a particular focus
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Diamond makes mobile banking easier with new app
Thu, 03 Jan 2019
Nike Popoola Diamond Bank Plc says it has introduced new features on its mobile app to provide customers unrivalled experience in bill payments and business transactions. In a statement, while speaking on the new features, the Head, Transaction and Electronic banking, Diamond Bank, Sam Aneke, said the upgraded mobile app did not require customers to
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IMF warns Nigeria, others as global debt hits $184tn
Thu, 03 Jan 2019
Femi Asu The International Monetary Fund said on Wednesday that global debt had reached an all-time high of $184tn in nominal terms, the equivalent of 225 per cent of Gross Domestic Product in 2017, warning of a legacy of excessive debt. The IMF, which released the new data on global debt on its website, put
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2019 will be tough for Nigeria Economist
Thu, 03 Jan 2019
Chukwudi Akasike,Port Harcourt AN economist, Chika Onuegbu, has said that the economic indicators in the country for 2019 are unfavourable to Nigeria, adding that the year will be very tough for the country. Onuegbu, who is the Chairman, Nigeria Union of Petroleum and Natural Gas Workers and the Petroleum and Natural Gas Staff Association Committee
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Pension: Families of 50,811 deceased workers get N156bn claims
Thu, 03 Jan 2019
Nike Popoola Since the inception of the Contributory Pension Scheme, relatives of 50,811 dead workers have been paid claims totalling N156.12bn as of the end of June 2018, The PUNCH has learnt. The figures obtained from the National Pension Commission on Wednesday revealed that the claims were paid by the Pension Funds Administrators and the
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MDAs must clear IT projects before execution, says NITDA
Thu, 03 Jan 2019
Everest Amaefule, Abuja The National Information Technology Development Agency has asked Ministries, Departments and Agencies as well as government-owned companies to submit their information technology projects for clearance before they can go on with execution. In a statement made available to our correspondent in Abuja on Wednesday, the Director-General of NITDA, Dr Isa Ibrahim, said
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What to consider before taking loans in the new year
Thu, 03 Jan 2019
Anytime you borrow money, finance a purchase, or take out a loan, you should carefully consider if it is the right decision for you. Borrowing money means that you are committing to pay the money back within a certain time frame and at a certain interest rate, according to www.thebalance.com. Before signing on the dotted
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Totals Egina achieves first oil, boosts Nigerias production
Thu, 03 Jan 2019
Femi Asu Total, on Wednesday, announced that Egina deepwater oilfield had achieved first oil production, helping to push Nigerias oil output beyond 2.09 million barrels per day in December. The French oil major said the field, which is located in around 1,600 meters of water depths, 150 kilometers off the coast of Nigeria, started up
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OPEC-led cuts should rebalance oil market in Q1
Thu, 03 Jan 2019
The deal led by the Organisation of Petroleum Exporting Countries to cut 1.2 million barrels per day from the start of this month should bring balance back to the oil market in the first quarter of 2019, the UAEs Energy Minister, Suhail al-Mazrouei, has said. As we start a new year, I remain optimistic towards
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Nigeria needs to increase oil, gas reserves Isa
Thu, 03 Jan 2019
The Chairman and Chief Executive Officer, Waltersmith Petroman Oil Limited, Mr Abdulrazaq Isa, speaks to FEMI ASU about the impact of the recent oil price slump, and the need to ramp up the nations oil and gas reserves, among other vital issues There has been an increase in local participation in the nations oil and
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Hiccups of ports development in 2018 (1)
Thu, 03 Jan 2019
The gridlock around Lagos ports that brought the economy to a near standstill underscores the importance of developing other ports in the country, Anna Okon writes Lagos ports In 2018 the government intensified efforts to rehabilitate the access roads leading to Lagos ports. The deplorable roads leading to the Lagos Port Complex and the Tin
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Power supply has averaged 3,453MW since privatisation, Discos lament
Thu, 03 Jan 2019
Femi Asu The electricity distribution companies in the country have said the daily energy sent out by the generation companies has averaged 3,453 megawatts since the power sector was privatised in November 2013. Total power generation stood at 4,176.5MW as of 6pm on December 27, according to latest data obtained from the Ministry of Power,
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Iraq crude exports hit new high
Thu, 03 Jan 2019
Iraqs crude oil exports jumped to a record high of 3.73 million barrels per day in December, the oil ministry said on Wednesday, bouncing back from a weather-induced slump the previous month. Exports from Persian Gulf terminals rose to 3.63 million bpd from 3.36 million bpd in November, while loadings of Kirkuk crude transported through
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Oil & Gas stocks depreciate as companies face threats
Thu, 03 Jan 2019
Oil and Gas stocks on the Nigerian Stock Exchange depreciated even as global crude oil prices rose. The United States crude closed higher by 1.5 per cent, while Brent crude increased by almost one per cent. Analysts said the emergence of yet another militant group in the Niger Delta calling itself WANDE, which is short
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FTSE steadies as trade war hits global manufacturing
Thu, 03 Jan 2019
Global stock markets stumbled on the first day of trading in 2019 as data showed factory output slowed across the world last month as a result of the United States-China trade war. Taking its cue from a slide in Asia markets, the FTSE 100 dropped 34 points or 0.5 per cent to 6,693 although it
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Ecobank Xpress Point boosts services
Thu, 03 Jan 2019
Nike Popoola Ecobank Nigeria has urged its customers to avail themselves the services of its Xpress points across the country during the festive period and even after. The bank said it provided the Ecobank Xpress Point, which it described as a unique type of agency banking that allowed customers to access basic banking services even
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Baro Port: Poor access road threatens deployment of N1.5bn equipment
Thu, 03 Jan 2019
Poor access roads may pose challenge to the effective deployment of the N1.5bn cargo handling equipment at Baro River Port in Niger State, our correspondent has learnt. On December 21, the Managing Director, National Inland Waterways Authority, Senator Adeleke Mamora, announced that the installation of the cargo handling equipment had been completed, adding that the
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Alphabeta committed to customer satisfaction
Thu, 03 Jan 2019
Nike Popoola Alphabeta Consulting has expressed its commitment to provide excellent services to its clients. In a statement, the management and staff of Alphabeta Consulting said this, while wishing their clients, tax payers, stakeholders, business partners and, all Nigerians a prosperous 2019. It stated, Alpha Beta Consulting is a firm of revenue maximisation strategists that
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PDP wants military funds, 9 Mobile, Keystone Banks shares probed
Thu, 03 Jan 2019
Success Nwogu, Abuja The Peoples Democratic Party on Wednesday called for the probe of the alleged link between the reportedly diverted military funds and the N1.032tn allegedly used by President Muhammadu Buharis family members to acquire shares of Etisalat Nigeria (now 9 Mobile) and Keystone Bank Plc. The PDP urged INTERPOL, Department of State Services
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Fayemi set to begin work on abandoned projects
Thu, 03 Jan 2019
Abiodun Nejo, Ado Ekiti The Ekiti State Governor, Kayode Fayemi, on Wednesday said work would soon begin on all abandoned projects in the state. The governor said contractors had been mobilised back to begin work on the projects which were started during his first term but abandoned by his successor, Mr Ayodele Fayose. The state
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Army opens livestock market in FCT
Thu, 03 Jan 2019
Olaleye Aluko, Abuja The Nigerian Army on Wednesday opened an international livestock market and abattoir in the Anagada area of the Federal Capital Territory, saying the market would enhance the movement of livestock from the north to the south. The Chief of the Army Staff, Lt. Gen. Tukur Buratai, at the inauguration of the market,
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Boko Haram not better equipped than us Army
Thu, 03 Jan 2019
Jesusegun Alagbe The Nigerian Army on Wednesday denied claims that it was using inferior weapons to fight Boko Haram. It said it would continue to fight the insurgent group despite the challenges soldiers had been facing on the battlefield. Boko Haram terrorists are not better equipped than the Nigerian Army. The Nigerian Army is the
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Offa robberies: Minister to release evidence of Sarakis alleged lie
Thu, 03 Jan 2019
Sunday Aborisade, Abuja The Minister of Information and Culture, Alhaji Lai Mohammed, has alleged that available evidence has shown that Senate President Bukola Sarakis live radio interview on Christmas Day was doctored before it was re-broadcast to remove any reference to his claim that he donated N10m to the victims of the Offa robberies. In
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Opposition plotting to take over Akwa Ibom by force Emmanuel
Thu, 03 Jan 2019
Patrick Odey, Uyo Akwa Ibom State Governor Udom Emmanuel on Wednesday claimed the Peoples Democratic Partys main opposition party was plotting to take over control of the state by force in the forthcoming general elections. The ruling PDP is locked in a fierce battle with the All Progressives Congress to retain control of the state.
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Insurgency: Buhari sends Dan-Ali to Borno, Chad
Thu, 03 Jan 2019
The Minister of Defence, Mansur Dan-Ali, on Wednesday arrived in Maiduguri on President Muhammadu Buharis instructions to assess the situation on the ground following the recent attacks in Borno State by Boko Haram, the News Agency of Nigeria reports. Dan-Ali confirmed this to newsmen after he held a two-hour closed-door meeting with the Chief of
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FUTA alumni reject call to rename varsity after Shagari
Thu, 03 Jan 2019
Peter Dada, Akure Following the call to rename the Federal University of Technology, Akure, after the late former President Shehu Shagari, the alumni of the institution have kicked against the call, saying it might mar the brand of the institution. It was gathered that after the death of Shagari, there had been calls from some
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Police deploy 50 more cops in Melayes home
Thu, 03 Jan 2019
Sunday Aborisade, Adelani Adepegba and Kamarudeen Ogundele The police have deployed over 50 more officers in Senator Dino Melayes Abuja residence. The this came as the Senate on Wednesday said it had taken legal steps against the police for laying siege to Melayes home since Friday. The red chamber expressed confidence that its action would
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Osun reschedules free train ride to Lagos
Thu, 03 Jan 2019
Bola Bamigbola, Osogbo The Osun State Government on Wednesday announced that it had rescheduled the take-off time for the free train ride back to Lagos by 24 hours. The government said the train was initially scheduled to return to Lagos on Wednesday, but the trip was rescheduled for Thursday. The development means that the train
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Zamfara Assembly extends tenure of LG chairmen
Thu, 03 Jan 2019
he Zamfara State House of Assembly on Wednesday extended the tenure of all the 14 local government area chairmen in the state by three months. The chairmen, whose three-year tenure expired on January 2, would remain in office till April 2, 2019. The Assembly, however, removed from office the vice-chairmen of Zurmi, Birnin-Magaji and Gummi
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Closure wont affect visa applicants US embassy
Thu, 03 Jan 2019
Eniola Akinkuotu, Abuja The visa sections of the United States embassy in Abuja and the Consul General in Lagos will continue to attend to visa applicants despite the closure of some sections, the US Government has said. The embassy said in a statement that the American centres and the education offices would remain closed until
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Maku: I dont need political structures to win Nasarawa governorship seat
Thu, 03 Jan 2019
Former Information Minister, Labaran Maku, who is contesting the Nasarawa governorship seat on the ticket of the All Progressives Grand Alliance, says he does not need political structures to win the election. Critics have insisted that his chances are slim since APGA is not a major political group in the state. They say that Makus
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