The Central Bank of Nigeria (CBN) has injected the sum of $186.5 million into the invisible and the whole Wholesale Secondary Market Intervention Sales (SMIS) segments of the forex market.
The sum is made up of $36.5 million in the invisibles, $50m for Small and Medium Enterprises (SMEs) segments and $100 in the wholesale segment. The Central Bank of Nigeria (CBN) also approved the sale of $100 million at the Wholesale Secondary Market Intervention Sales (SMIS) auction announced on Monday, May 23, 2017.
The CBN Acting Director, Corporate Communications, Isaac Okorafor, who spoke to the journalists on the sideline of the MPC briefing, confirmed the sales at both the invisible and wholesale segments were settled today, Tuesday, May 23.
Okorafor reiterated that the CBN will continue to make every necessary intervention in the interbank market to sustain the supply of forex to meet legitimate foreign exchange demands by customers.
He said that the efforts of the CBN in sustaining the intervention in the forex market is beginning to post some positive effects, as the Naira is making steady gain against major currencies.
This goes to reaffirms the CBN Governor’s pledge at the Tuesday Monetary Policy Committee press briefing on the need to sustain the FOREX intervention to ensure the convergence of the forex rates.
There are strong indications, according to market analysts that the Naira is likely to maintain an average exchange rate below N375 to $1 in no distant time. [myad]
Gambian Justice Minister, Justice Abubacarr Tambadou, has revealed how the former President of the country, Yahya Jammeh, stole the country’s $50 million from the state before he left the country in January. Jammeh has been accused of withdrawing the money via a state telecoms company.
Justice Tambadou said that ex President Jammeh had withdrawn $50 million between 2006 and 2016, adding that the discoveries were “just a tip of the iceberg.”
He accused Jammeh of directing the “unlawful withdrawals” from accounts held at The Gambia’s central bank, linked to state-owned Gamtel either “personally or under his instructions.”
Justice Tambadou said a court order had frozen or temporarily held 88 accounts and 14 companies linked in some way to Mr Jammeh – amounting to all the politician’s “known assets” remaining in The Gambia, as the country’s new administration sought to prevent him “liquidating or dissipating” anything further.
A court had ordered all his remaining assets in The Gambia to be frozen.
Jammeh flew into Equatorial Guinea after 22 years in power. He lost an election in December and only agreed to step down after regional powers sent in troops threatening to force him out.
Luxury cars and other items were reportedly loaded on to a Chadian cargo plane as Jammeh left the country.
The amount was initially suggested to be more than $11 million by Interior Minister, Mai Ahmad Fatty then an aide to new President Adam Barrow.
It has also been reported livestock, cars and properties have been seized. Three of his cousins have been arrested after selling his cattle.
Jammeh has been out of contact since he left The Gambia and has not responded to the allegations.
Governor Abdullahi Ganduje of Kano State has set 50 prisoners free from Kurmawa Central Prison in Kano as part of activities marking the 50th anniversary of the creation of the state.
The governor, who ordered the release of the inmates during his visit to the prison in Kano today, Monday, said: “the gesture is part of the activities to commemorate the 50th anniversary of Kano as a state created on May 27, 1967.”
Governor Ganduje said that the decision to visit the prison was to show to the inmates that the state government is aware of their existence and that they were also regarded as citizens of the state.
The governor said the beneficiaries of the gesture were selected based on ill health, old age, the gravity of offence and sign of reformation while in prison.
He, however, advised the freed inmates to desist from acts that would warrant bringing them back to prison.
Ganduje said that the state government would assist them with some money to enable them travel back to their communities.
Registrar of the Joint Admissions and Matriculation Board (JAMB), Professor Is’haq Oloyede has said that 90 percent of candidates that sat for the Universities Matriculation Examination (UTME) are not qualified.
Professor Oloyede said that majority of the students are still awaiting their O’ level result and that some of them used JAMB to test their abilities.
The Registrar, who spoke today, Monday, at the Education Summit 2017 of the Ogun state government holding in Abeokuta said that some SS two and SS three students also partook in the exams.
According to him, elimination of corruption in the country would make the demand for white collar jobs less attractive even as he lamented that corruption had made the civil servants to get more than their monthly salaries.
He said that the present economic situation cannot sustain the public service workforce, saying:”it is not sustainable, especially when the campaign against corruption is on.
“It is not the 100,000 the Permanent Secretary takes home that make him the Permanent Secretary but the corruption associated with the office.
“As corruption is being eliminated, the truth of the matter is that white collar job will become less attractive and what makes it attractive is because of the money. Therefore let us improve on skills. Skill acquisition should be considered as curriculum not as extra curriculum.”
On the summit, Professor Oloyede said that there is need for Ogun state to setup its own Education Trust Fund, which to him, “will focus on assisting indigent students to fund their education and make their education affordable accordingly.
“There is need for Establishment of Tertiary Admission Monitoring Committee and I know of state like Kwara and such a committee in the Ministry of Education and their duty is to go to where their catchment is and ensure that their catchment quota is filled and they pursue it with vigor and they will tell them it is our right.
“They should also Setup Ethics group to monitor computer based centres. I was ashamed the greatest criminal was caught in Abeokuta to break into DBN JAMB”
The State Governor, Senator Ibikunle Amosun said that his administration is committed to matching its huge investment in the education sector with better learning outcomes.
Amosun disclosed said in the last six years of his administration, education has consistently gotten the lion share of the State budget but expected that stakeholders would partner with government to justify the investment with positive results.
The Governor who noted that the State was fast becoming the education capital of Nigeria with 1,495 Public Primary Schools, 2144 approved Private Nursery and Primary Schools with a combined population of 717,911 students in primary schools as well as 10 State owned tertiary institutions adding that his government have had to deal with huge financial responsibilities in the sector than any State of the federation.
Amosun said that over 52 billion naira has been disbursed as subventions and grants to its 10 tertiary institutions across the State, just as he said that the State was putting up structures and funding materials to make education conducive for students as Human Capital Development of education staff was being addressed.
He said that it is time teachers, parents and other stakeholders in the sector collaborated with government to ensure that school children and graduates of tertiary institutions become useful to themselves and the society. [myad]
David Moyes has resigned as manager of Sunderland, after failing to keep the club in the Premier League this season.
The former Manchester United and Everton coach took over last summer and the club finished bottom of the league, 16 points from safety.
“I pursued the services of David Moyes for a considerable period prior to his appointment last summer, which makes the announcement of his departure difficult for everyone concerned.
“Having worked tirelessly throughout the campaign to avoid relegation from the Premier League, David has chosen to leave the club without compensation, which is testament to his character.
“In the days ahead we will take some time for reflection, and then focus on recruitment and pre-season as we prepare for our Championship campaign. We wish David well in the future,” Sunderland’s chairman, Ellis Short said in a statement today, Monday.
Moyes added: “I would like to thank Ellis Short and the Board for giving me the opportunity to manage Sunderland and the fans for always being so passionately supportive of their club.
“I wish the players and my successor well in their efforts towards promotion back to the Premier League.” [myad]
Benue State has set a stage for sending herdsman who commits an offence that contravene the Anti-Open Grazing and Anti- Kidnapping, Abduction, Cultism and Terrorism to five years imprisonment as the state governor, Samuel Ortom signed the bill into law.
At the signing ceremony today, Monday, in Makurdi, the state capital, Governor Ortom said that the anti-grazing law would put to an end, the incessant clashes between herdsmen and farmers.
On kidnapping, Governor Ortom said: “kidnappers will, henceforth, be sentenced to death upon conviction, while volunteer hostages will be jailed 10 years,” he explained.
The governor lamented the killings and destruction of property in clashes involving farmers and herdsmen over the years, and promised to promote ranching since it had proved to be the best way of rearing livestock globally.
“Now that the bill has been signed into law, the law will take its course on anyone that goes against it,” he said.
He warned that violators would serve a jail term of five years or a fine option of N1 million, or both.
The governor particularly warned farmers and herdsmen against carrying arms, saying that security agents had been directed to arrest and prosecute anyone caught.
Ortom also warned owners of livestock against allowing them to roam the streets, saying that they would pay a heavy fine for each one caught.
“The fines for roaming animals will be heavy; such animal will be auctioned if the owner failed to pay the fine within seven days,” he said.
Ortom said that the law would descend heavily on cattle rustling and destruction of crops by cattle, and warned those concerned against daring the state government.
On the anti-kidnapping, abduction and cultism bill, the governor said that it would rid the state of criminality.
The governor disclosed that cultists would be jailed 10 years without any option of fine, on conviction.
About 14 years after his installation, the Oba of Lagos, Rilwan Akiolu, today, Monday appeared in an Ikeja High Court in a suit challenging his emergence as the paramount ruler of Lagos, saying he is the bona fide monarch.
“I am here to justify my appointment, you cannot build something on nothing, it will be broken.
“By native law and customs and by law, I am the bona fide Oba of Lagos,” said Akiolu, who was accompanied to the court by 10 white cap chiefs. The News Agency of Nigeria (NAN) reports that Akiolu’s installation as the Oba of Lagos is being challenged by Prince Adedoyin Adebiyi and Prince Rasheed Modile, two members of the Lagos royal family.
Joined as respondents in the suit are the state governor, the Attorney-General of Lagos State, Prince Babatunde Akitoye and Chief Junaid Eko.
Both Adebiyi and Modile are claiming that Akiolu is not entitled to the throne because he is not a member of a ruling royal family by not being a direct descendant of Oba Ado, the first Oba of Lagos.
According to the claimants, only members of the Ologun Kutere and Akinsemoyin ruling houses are entitled to the throne.
They also alleged that proper customary rules and procedures were not followed when he was appointed as Oba in May 2003.
While being led in evidence by his lawyer, Mr Adetokunbo Mumuni, Akiolu told the court the procedure he followed before being installed.
“After I made my intention known to my family that I wanted to be Oba of Lagos, I applied for the throne.
“In May 2003, the head of the kingmakers and the then Sole Administrator of Lagos Island Council called at my residence.
“At that time I was preparing to go to the mosque and I was told that I received a letter from the state government and the State Executive Council.
“The letter accepted my nomination that I have been approved to be a worthy successor of the late Oba of Lagos.
“It will be exactly 14 years tomorrow (May 23, 2003) that my appointment was approved.
“By the grace of Almighty Allah, there is nothing like rotation in the succession to the throne of Oba of Lagos,” Akiolu said.
Before cross-examining Akiolu, lawyer to the claimants, Mr Babatunde Fashanu (SAN), told the court that for the purpose of the trial, Akiolu should be addressed as the defendant and not as the Oba of Lagos while in court.
“I apply that all referrals to the defendant as the Oba of Lagos should be expunged from the records of this honourable court.
“Within the walls of this courtroom, he is a defendant and when we step out of the courtroom, I will lie down and greet him as ‘kabiyesi’ because I am like a son to him,” he said.
Akiolu also told the court that he had a prior relationship with Fashanu’s father when he was working as a lawyer during his early years of legal practice 32 years ago..
“I know your father, I used to carry files for him when we were working together.”
Fashanu’s request to expunge referrals of Akiolu as Oba of Lagos was, however, not granted by the court.
In responding to Fashanu’s question whether proper customary procedure was followed when he became Oba, Akiolu said he was installed according to the customs of Lagos as Oba by kingmakers.
“Akiolu is a direct descendant of Oba Ologun Kutere, there is no registered declaration for the throne.
“It is the old customs and the recommendations of the Price Commission which is over 100 years ago that is still valid till today.”
Akiolu also debunked claims that Akiolu royal family was not one of the ruling houses because it was non-existent. He said: “despite the letter from Lagos State Government confirming my appointment as Oba and stating that I am from the Akiolu royal family, I want to make it clear that a royal family and ruling house means the same thing.
“My appointment as the king is the first time in history that kingmakers will be unanimous in selecting an Oba of Lagos.”
Justice A. Candide-Johnson adjourned the case until June 19 for continuation of trial. [myad]
Governor of Ekiti State, Ayodele Fayose has given a hint that he may contest the 2018 gubernatorial election to enable him to serve his term which was truncated through what he called an orchestrated conspiracy of illegal impeachment in 2006.
Speaking in a live broadcast on Ekiti State Television in Ado-Ekiti today, Monday evening, Fayose said that he had chosen to put his image on a campaign poster currently circulating in many parts of the state because the nation’ s apex court had said that his impeachment in 2006 was illegal.
He said that he would approach the same court to interpret what that ruling means and also consider seeking a re-election in 2018.
”The continuity poster you see my image in and which is spreading across the state can be interpreted in two ways: First is the need for me to ask the apex court to explain its 2014 ruling that my so called impeachment in 2014 was illegal, null and void and consider a re-election in 2018 so that I can complete my term.
“Second is for me to get our own man, one who is like Ayo Fayose to continue after my tenure in 2018.” It would be recalled that the Supreme Court in 2014, nullified the impeachment of Fayose, about seven months to the end of his first term. The apex court described the said impeachment as null and void. [myad]
More than 220 suspects, including over two dozen former generals, went on trial today, Monday for being among the ringleaders of last year’s attempted coup against Turkish President, Recep Tayyip Erdogan.
Furious protesters outside the court demanded the death penalty and flung rope nooses at the defendants as they were marched into the building handcuffed and held by the security forces.
Turkey blames the failed July 15 putsch on US-based Muslim cleric Fethullah Gulen, a claim he strongly denies and has launched a relentless purge against those deemed to have backed the plot.
Gulen is among 12 of the 221 suspects in the current trial who remain at large. The remainder appeared in court for the first time inside a prison complex in Sincan outside Ankara.
The suspects were paraded into the building by heavily-armed security forces forming two columns in front of television cameras.
Dozens of protesters holding Turkish flags booed at the suspects, with placards saying: “For the martyrs and veterans of July 15, we want the death penalty.”
“We want the death penalty, we don’t want them to be fed and housed here. We want these traitors to be buried without any flag,” said protester Cengiz Ozturk.
Turkey abolished the death penalty as part of its drive to join the European Union but Erdogan has on occasion indicated it could be reimposed to deal with the coup plotters.
– ‘Martyrs don’t die’ –
Twenty-six generals are among those charged, including former air force chief Akin Ozturk and Mehmet Disli, the brother of senior ruling party lawmaker Saban Disli.
Also on trial are colonel Ali Yazici, Erdogan’s former military aide, and Lieutenant Colonel Levent Turkkan, who was the aide to Chief of Staff General Hulusi Akar.
The most prominent figure among the suspects, Ozturk was dressed crisply in a black sweater and held a blue file as he was led into the court.
His appearance contrasted with the last known image of him which showed him bearing injuries including a bandaged ear after his capture two days after the coup bid.
The first suspect to give his defence, Ozturk vehemently denied any link to the coup bid.
He described how he devoted his life to the Turkish military and said the charges were “unfair accusations”.
“These accusations are for me the greatest punishment,” he told the court.
“The commanders who have fostered me, and my army friends, know well that I played no part in this treacherous coup attempt. In fact, I had no idea.”
In a tense start to the trial, relatives of coup victims shouted “martyrs don’t die, the motherland cannot be divided”, a refrain often used by the public and politicians in tribute to those killed during the putsch.
A mother of one of those killed yelled at the suspects before she was taken away by force.
The case is being heard in Turkey’s largest courtroom, which was purpose-built to hear trials related to the coup, and has space for 1,558 people.
There was heavy security in place, with a drone flying overhead and armoured security vehicles on site as well as snipers on the roof.
– Largest legal process –
Almost 40 of those on trial are accused of being part of the “Peace At Home Council”, the name the plotters are said to have given themselves on the night of the failed coup.
The charges against them include “violating the constitution”, “using coercion and violence in an attempt to overthrow” the parliament and the Turkish government, “martyring 250 citizens” and “attempting to kill 2,735 citizens”, Hurriyet daily reported on Sunday.
The attempted putsch left 248 people dead, according to the Turkish presidency, not including 24 coup-plotters killed on the night.
The trial is one of many being held across the country to judge the coup suspects in what is the biggest legal process of Turkey’s modern history.
The vast Sincan courtroom hosted in February the opening of the trial of 330 suspects accused of murder or attempted murder on the night of July 15.
More than 47,000 people have been arrested on suspicion of links to the Gulen movement in an unprecedented crackdown under the state of emergency.esse
A Senior Advocate of Nigeria, Sebastine has said that National Assembly members have the power under the combined provisions of sections 59 and 81(1) of the Constitution to either increase or reduce the estimates contained the Appropriation Bill submitted by the executive.
The lawyer, who was responding to a Lagos constitutional lawer, Femi Falana (SAN), who said that the lawmakers have no power to increase the budget under the constitution, insisted that there is nothing wrong in what the National Assembly had done and in the acting President signing the document.
According to him, to follow Falana’s advice and further delay the signing of the budget would be suicidal “given that we are at the threshold of the second quarter of the year.”
Speaking during a colloquium organized by the Movement for Genuine Change to mark the 50th anniversary of the creation of Kwara State, Falana had said that Nigerians should not waste energy on the competence of the budget signed by the Acting President but should subject the document to scrutiny.
“I have read the comments credited to my learned brother of the Inner Bar, Femi Falana, SAN, asking the Acting President, Yemi Osibanjo, not to append his signature to the budget as passed by the National Assembly. Hide quoted text
“His reason for this advice is that the National Assembly acted illegally in increasing the budgetary estimates earlier submitted by the President. I beg to disagree with Mr. Falana.
“Under section 81(1) of the Constitution of the Federal Republic of Nigeria, 1999 as amended, the President of Nigeria is obligated each year to cause budgetary estimates to be “laid” before each house of the National Assembly, and the National Assembly becomes obligated under section 59 of the Constitution to deliberate on the estimates and pass same into law as an appropriation bill.” [myad]
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