Guaranty Trust Bank has launched the #GTBankMobileWin100k competition to reward its mobile banking customers by availing them a chance to win N100,000 weekly in the mBank January rewards. The competition will run throughout the month of January 2016 and 10 lucky customers will win N100,000 weekly during the period. To participate in the competition, customers are required to perform two banking transactions weekly on the GTBank Mobile App. Such transactions include funds transfers, airtime purchases, bills payments and purchases on the SME MarketHub. Multiple entries are allowed and winners will be notified by telephone or email. The GTBank Mobile App is a versatile mobile application that merges the bank’s internet banking and mobile money service offerings to allow customers enjoy 24/7 flexibility in carrying out banking transactions without having to visit the Bank’s offices. Using the mobile app, customers can confirm transactions, transfer funds, pay bills and check balances from the comfort of their mobile devices. The app also host other amazing features such as the SME MarketHub, an online e-commerce platform that allows businesses owners create online stores to sell and promote their offerings to millions of buyers online. Commenting on the launch, Segun Agbaje, the Managing Director/Chief Executive Officer of GTBank, said: “Understanding that customers are always on the go; mobile banking puts us in the palm of our customers and provides a unique opportunity to offer quick and more efficient ways of providing banking services. As a Bank, we remain firm on our objective to deliver value adding services that are tailored to meet the diverse needs of our ever-growing customer base by leveraging technology to make banking more convenient for all our customers.” [myad]
Federal High Court in Lagos has ordered the Nigerian government to stop freezing the MTN Nigeria Communications Limited in its 21 commercial banks in Nigeria.
The court ruled in favour of the MTN over its refusal to the N1.04 trillion fine imposed on it by the Nigerian Communications Commission (NCC) for its failure to deactivate its unregistered subscribers.
The Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), who filed the application yesterday, had expressed the fear that MTN could move all its funds out of the country before the N1.04 trillion fine could be enforced.
He had sought an order directing all the 21 banks to open a special interest-yielding account in the name of the Chief Registrar of the Federal High Court and move N1.04 trillion out of whatever funds that was standing to MTN’s credit in their possession.
The counsel for the AGF, Mr. Dipo Okpeseyi (SAN), in a 14-paragraph affidavit deposed to by his junior, Steve Nwabueze, had argued that MTN was in the habit of regularly repatriating its funds out of Nigeria.
He noted that between October 2007 and May 2009, a period of 19 months, MTN moved over $7.7bn of the money made in Nigeria to a foreign account.
He further drew the court’s attention to an instance when in one day, specifically on February 8, 2008, MTN transferred over $936m out of Nigeria to accounts in Mauritius, Cayman Island and British Virgin Island.
“Unless this honourable court urgently entertains this application, the plaintiff/respondent would move its funds out of Nigeria, being the jurisdiction of this honourable court, and thereby frustrate the enforcement of the fine in the likely event that this honourable court sanctions the imposition of the fine,” the AGF’s counsel added.
Okpeseyi maintained that MTN was under an obligation to pay the N1.04tn fine, because it was NCC’s administrative decision, which remained final unless it was reviewed by the commission or nullified by the court.
He said though NCC had earlier given MTN a concession on the fine and reduced it to N780bn, but since MTN had neglected or failed to pay on or before December 31, 2015, the fine remained N1.04tn.
He alleged that instead of taking advantage of the concession MTN resorted to filing a suit in order to buy time, with the hope that it could move all its funds out of Nigeria before the case would be decided.
Okpeseyi urged the court to grant the application in the interest of justice to prevent the court’s decision from being rendered nugatory if it went in the favour of NCC and AGF.
But Justice Idris Mohammed turned down the application as he said the AGF had not shown enough facts to prove that MTN was about to empty its bank accounts and move its funds out of the country. Idris, who noted that the case was sensitive and of public interest, said he would rather urgently hear the case filed by MTN to challenge the fine and give a judgment within a short time.
He, however, made an order for the parties to maintain status quo ante bellum pending the determination of the suit and adjourned till January 22, 2016 for hearing. MTN had assembled seven Senior Advocates of Nigeria, led by Chief Wole Olanipekun, to challenge the N1.04tn fine imposed on it by NCC.
The company contended that NCC could not act pursuant to Section 70 of its establishment Act to impose the fine on it.
But Malami, who took sides with the NCC and justified the imposed fine, said it was his duty, as the chief law enforcement officer in the country, to ensure that all the laws made by the National Assembly are obeyed. [myad]
It was very annoying seeing adults; educated adults speaking, writing and believing in what even a kindergarten child would simply dismiss with a wave of hand. Whose idea it was anyway that the Nigerian budget, presented to the joint session of the National Assembly last month was missing? Missing from where? For what purpose? As a matter of fact, I had started writing this piece when the Senate leader, Senator Muhammed Ndume came up with the true position of thing: that the budget cannot disappear. Of course, before Senator Ndume clarified the issue, it really made no professional sense for anybody to allow such trash as the budget is missing to be featured on his platform. It is as if they don’t know that copies of the budget are usually distributed to relevant committees immediately after it is presented by the President or his representative. That even the two chambers of the National Assembly are necessarily handed the copies of the budget right after the presentation. Which of the copies some media practitioners were deceived to publish as missing? More importantly too is the realization that not quite a week after it was presented to the National Assembly, the copy was available not only in the google search engine, but also in other social media platforms. What then made the purported missing of the 2016 budget such a big issue on which media fell over one another to publish? When I first read it earlier in the day, I comforted myself to believe that it was not real: that the media operators were actually not doing what they were doing. But it gained ground so much that even newspaper editors had to ask their reporters to find out from the Presidency if actually it withdrew the document. Have the operators of the publishing outfits gone so low that they cannot even do a very simple calculation or judgment? How would the nation budget have disappeared and there were no other way of getting the same document? They should have contacted me for a copy, which I have in my file, on my laptop. Habba! [myad]
A beautiful Fulani girl presents a calabash containing Fura-De-Nono, special Fulani delicacy to the Vice President, Professor Yemi Osinbajo today, when he arrived in Kaduna Airport for the Ground-Breaking Ceremony of 2000 Affordable Housing Scheme initiated and executed by Kaduna State Governor, Mallam Nasiru El Rufai. The governor was there to cheer up the giver and the receiver. [myad]
The Senate Leader, Senator Muhammed Ndume, has educated some media operators who came up earlier in the day with a story that the 2016 budget proposal submitted by President Muhammud Buhari was missing that there is no way budget can be missing.
Ndume explained that apart from the ceremonial copy laid by President Buhari, each chamber will also have its own copy of the budget proposal, adding that once the budget is laid, it has become the property of the National Assembly. He said while clarifying the issue that the lawmakers have the responsibility to scrutinize it and that once it is passed and signed by the President, it becomes a law. Ndume said: “Budget cannot be missing. One copy can be laid. It is a symbolic copy. “The budget will be in custody of both chambers. It cannot be stolen. It cannot be missing. “Once the budget is laid in the National Assembly, it has become the property of National Assembly. “Saraki’s visit to Vila is for Senate to know the President’s priority. We want to see how we can fast track the passage of the budget before the end of February. What is before the Senate is a proposal. “Once the President signs it, it cannot be amended. We can turn the budget upside down. It cannot be missing.” [myad]
Vice President Yemi Osinbajo has sent a strong message to those who plundered the nation’s financial resources that there is no hiding place for them. ”We are serious about prosecuting those who believed that our resources, the resources of the nation can be plundered at will and they give all kinds of excuses.” Osinbajo spoke today in Kaduna at the ground-breaking of construction projects spearheaded by the state governor, Mallam Nasir El-Rufai. The Vice President insisted that change which the Muhammadu Buhari government is pursuing is possible and that his government would meet the needs of the people. Professor Osinbajo said that one of the reasons why people voted him and Buhari was because the people believed that they would be able to provide the leadership that would bring about positive change. “I want to emphasize that when we talk of change, what we are really saying is that it is possible for government to meet the needs of the people; that government is not just about going around in motorcades and looking important, but it is serving the people.” The Vice President made it clear that Nigeria can be great if the government manages its resources well, adding: “Nigeria can be great if we stop corruption. I am sure that many of you have seen that this government is serious about ending corruption.” Osinbajo restated the vision of the administration of President Buhari to transform the lives of the people, saying: “President Buhari has said repeatedly he is committed to good governance and the fight against corruption. “The country has resources for all of us to live decently and well. That is what we are trying to do.” He commended the government of Mallam El Rufai for embarking on such ambitious projects, adding that the governor represents the change that is being talked about and that under the governor, Kaduna state will truly be great again. Earlier during the ground breaking ceremony for the construction of a Galaxy Mall and Galleria located near the Government House in Kaduna, Mallam El- Rufai said that the project was conceived to generate 2, 000 direct and indirect jobs, create linkage opportunities for small businesses to grow as well as to improve the shopping experience of the people in the State. Governor Rufai said that his administration and the State Assembly have decided to invest the N10 billion secured loan offered each state through the National Economic Council under the chairmanship of the Vice President for the provision of a befitting rail system for Kaduna metropolis. Governor El Rufai commended President Buhari and the Vice President for their integrity and partnership, recalling with praise the help packaged last year by the presidency to help states get out of their economic challenges. Vice President Osinbajo officially carried out the ground breaking ceremonies of a 2,000-unit affordable housing scheme for low income earners and that of the construction of the Galaxy Mall and Galleria. The first phase of the housing project will produce over 700 housing units. The Mall is a Public Private Partnership between the state government and the UAC Property Development Company. [myad]
“I am ready to fight this fight to finish. If I am opportune to drive this thing and in the process I happen to go (die), so be it.” These were the words of the acting chairman of the Economic and Financial Crime Commission (EFCC), Ibrahim Magu when he met with the Chairman and the Chief Executive Officer of Channels Television, John Momoh in Lagos. The EFCC strong man made it clear to Nigerians that there is ‘no giving up’ in the fight against corruption, stressing the readiness of the agency to go tough on corrupt persons no matter how much attack it gets. “There are too many talks about the issue of ‘corruption fighting back.’ Of course, corruption will fight back but we are resolved and determined to win this fight. “From over 170 million Nigerians, if I am opportune to drive this thing and in the process I happen to go (die), so be it. We are ready to fight this fight to finish.” Ibrahim Magu cited some cases that the EFCC is handling, saying that there were “serious allegations for instance, in the case of NIMASA. “There was two billion Naira initially when we took him to court but later we realized that he siphoned out of the public fund, about 34 billion Naira. “There are reasons for doing what he did. If you come to the office we will show you everything. There is no problem.” The anti-graft agency’s boss made it clear that the agency usually carries out a background investigation before inviting the individual to its office for questioning. “We carry out our background investigation very thoroughly. We may have been on you and you will not know.” The EFCC boss thanked the medium for joining in the fight through its balanced news reportage and called for more support. The anti-graft agency’s boss said the EFCC could not assume the monopoly of knowledge in ridding the country of corruption. [myad]
Facts have emerged of how the immediate past President, Dr. Goodluck Jonathan was swindled of billions of dollars in the process of negotiating for the release of the Chibok schoolgirls. Over 200 female students of the Government Girls Secondary School, Chibok in Born state were abducted by members of the dreaded sect, Boko Haram, in April 2014. It was gathered that in the process of negotiating for the release of the girls, some people turned it into a business, promising to negotiate for the release of the girls even when they knew they could not. The Special Adviser on Media and Publicity to President Muhammadu Buhari on media and publicity, Femi Adesina confirmed this position in a radion programme. Adesina, who featured on Radio Continental, 102.3 FM, with the transcript made available late yesterday, said some people turned the negotiation for the Chibok girls into a franchise, thus milking the government of billions of dollars. In answer to a question as to whether there is any ongoing negotiation for the release of the Chibok girls, Adesina said: “We need to know a little bit of what happened behind the scenes, between the last government and some people masquerading as the leadership of Boko Haram who wanted to get the Chibok girls released. “They actually turned it into a franchise. It became a commercial thing and they got money, possibly in millions of dollars, only for government to discover it had been swindled. “They kept saying they could get the girls released, they could interface with Boko Haram and they went smiling to the bank with all that money and nothing happened. “So you should understand why this government is being careful and the President has said the genuineness of the leadership of Boko Haram must be determined before any negotiation takes place.” [myad]
Nigeria Presidency has washed its hands off the alleged disappearance of the copy of the 2016 federal budget from the National Assembly. Report was all over the place early in the day that the 2016 budget, which President Muhammadu Buhari presented to the joint session of the National Assembly last month had disappeared, as a result of which insinuation was made that it was the Presidency that withdrew it. Reacting, senior special assistant to the President on media and publicity, Garba Shehu admitted that nobody except the President that has the power to withdraw the budget. “As far as we know, he hasn’t done that. The copies in their hundreds have been delivered to both chambers of the National Assembly. “By tradition, once the budget is submitted, it ceases to be our property. Enquiries as to where it is should be directed to the appropriate quarters.” [myad]
“He is a hard worker. And at 73, I wonder how he does it.” These are the words of the special adviser to President Muhammadu Buhari on media and publicity, Femi Adesina when he spoke as guest on Radio Continental, 102.3 FM, on January 8, 2016.
Adesina spoke on a variety of issues, including the ongoing anti-corruption war, Buhari’s perceived hatred for the Igbo race and the time frame for the economy to bounce back. Excerpts:
What do you have to say about the Chibok schoolgirls? Any negotiation in progress with Boko Haram? We need to know a little bit of what happened behind the scenes, between the last government and some people masquerading as the leadership of Boko Haram, who wanted to get the Chibok girls released. They actually turned it into a franchise. It became a commercial thing and they got money, possibly in millions of dollars, only for government to discover it had been swindled. They kept saying they could get the girls released, they could interface with Boko Haram and they went smiling to the bank with all that money and nothing happened. So you should understand why this government is being careful and the President has said the genuineness of the leadership of Boko Haram must be determined before any negotiation takes place.
The commendation actually goes to you and your media team for the media chat of President Buhari a few days ago. Arising from that chat, it is reported that the President said he would not grant bail to former National Security Adviser, Sambo Dasuki, and Nnamdi Kanu of Biafra. What was on the mind of the President? Our president is a straight shooter. Whatever is in his mind is what he tells you. He doesn’t believe in manipulating or any form of rigmarole. What he said was that those people had grievous charges against them. But then he does not preclude bail, if there are no pending charges against them. The situation now is when bail is granted, before that bail is perfected, those who are prosecuting them would have come with fresh charges, which warrant their being held further. So, that is the position. If there are no fresh charges and there is bail, there is no reason to hold them. But the truth is that there are fresh charges leveled against them.
One of the All Progressives Congress chieftain has been arrested by the Economic and Financial Crimes Commission. That is Colonel Jafar Isa. What does that mean to you? It means that in this corruption fight, no friend, no foe. One of the quickest ways for President Buhari to lose confidence in anybody is for that person to be tarred with the brush of corruption. And if proven to be true, you are on your own. All those who have said he is selective, it is because they do not know him. We know how much he detests corruption and if any case is proven against anybody, no matter how close the person is, no matter how high ranking, that person will answer for it.
Does Mr. President actually hate Igbos? When the President ran for political office in 2003, who was his running mate? Dr. Chuba Okadigbo. And in 2007? Chief Edwin Ume-Ezeoke. If he hated Igbos, would he run with them? That shows you the respect and the regard he has for Igbos. It was political reality that compelled him to come South West in 2011 and in 2015. Let me tell you a story. There is a prominent Igbo family in this country, if I mention their names you would know them, they are very prominent in the society. They told me a story that in the 70s, President Buhari was Minister of Petroleum, the family wanted to join the petroleum industry and then they made a bid. By then, there were not too many Nigerians playing in that industry and there was a lot of scepticism from those around the then Lieutenant Colonel Buhari, who was Oil Minister. They all said they don’t believe that the company as represented by that family had the capacity to play in the industry. This family told me that eventually, they got to Lieutenant Colonel Buhari, he listened to them and asked them: ‘Are you sure you have the capacity to do this?’ And they told him: ‘We can do it.’ Then he removed his military cap, banged it on the table and told them: ‘It is done.’ And he instructed that they give them that opportunity they wanted in the oil industry and today that family is so big and they never forget that the then Colonel Buhari as oil minister gave them the break they needed. They told me that story about three weeks ago. The next day, when I saw the President, I told him the story. He laughed and then went on to tell me that when people say he is against the Igbos, it baffles him. That really he never knew that family. He just trusted the assurance they gave him that they could play in the oil industry. And today, they are very big. He went further to say that even under the Petroleum Trust Fund, so many Nigerians, including Igbos, benefitted a lot. So there is no way you can say the man hates Igbos. The Second Niger Bridge is on the budget in 2016. Let’s recall that the last President sometime in 2011 said that he would complete that Second Niger Bridge before 2015. He didn’t even go beyond the architectural drawing. But in the 2016 budget, that project is there.
On the foreign exchange policy by the Central Bank of Nigeria and Christine Lagarde of the International Monetary Fund talking down on Nigeria, despite corruption allegation against her back home…. If Miss Christine Lagarde has any corruption allegation, it is not Nigeria that has brought it against her. Nigeria has absolutely no role in that. We know what happened to her predecessor in office when he had issues over sexual assault and all that. He was removed and he answered for it in court. We leave that to them for them to handle. But in terms of talking down, there was no talking down at all. I was at the meeting that she held with the President. There was absolutely no talking down. She spoke nicely and decently. I don’t agree that she spoke down on anybody. In fact, she ended up commending the President, commending Nigeria and she said she wouldn’t expect to hear a knock on her door any day from Nigerians asking for support because she has seen that Nigeria has all it takes to pull through this rough patch that she is passing through. I wouldn’t agree with you that she talked down on anybody. She had the right as MD of IMF to make prescription. Nigeria has the right either to accept or reject.
When would the disability bill be signed into law? This is the second time this is coming up on this show. Because I remember this question came up the last time I was here and now that the Ministers are about two months in office, this is also something that I would bring up.
Please lead us into the privacy of the President. How does the President carry the enormous problem of this nation? How true is the statement that the only thing he is doing now is fighting corruption, neglecting the issue of economy, infrastructure and welfare of citizenry? I would like to begin by saying that corruption is central to every other thing in this country. If we want to talk about the economy, education, health care, if all the funds we would need to address these are squirreled away, how then do we address them? Fighting corruption is central to Nigeria’s development. Therefore the President has taken it as one of the key things that his administration would do. But then, that doesn’t mean that corruption is the only thing he is fighting. You need to see the man’s schedule. He gets to the office in the morning about 9am. The first thing he has required us to do is get the highlights of newspapers ready for him. And so before he comes in, we have reviewed the newspapers, we have done all the highlights and that is the first thing he looks at. Then he begins to attend to all the other things lined out for him. Across all the sectors, ministers and directors of agencies are meeting with him. He is a hard worker. And at 73, I wonder how he does it. He does that till early evening, when he then retires home to have a late lunch and a rest and then in the early evening he takes on people that have been scheduled to meet him, if there are. One thing about this President is that as much as possible, you don’t get to his house and see a market. I was told that in the last dispensation the place would still be a beehive of activities as late as 2am. But this man is methodical. He plans his days and in the process he is able to attend to much more. All the sectors are receiving attention, I can assure you.
Funding the real sector is going to be very important in getting diversification, in getting the economy back on track. What about our developmental banks? Talking of the real sector, I know of the Bank of Industry because I engage with them, the MD, the corporate affairs people, we spoke two days ago and they have this programme on television, which I follow. I think BOI is doing well and they have to be further empowered to do more. Talking of Treasury Single Account, it is work in progress. The rough edges are being smoothened. You heard the President on National Media Chat saying that about N1. 5 trillion has been harnessed into TSA. If you don’t harness this money, how do you use it? Now that that money is there, that is when we can talk of using it for the real sector.
What is the plan of the government on state police? I know that the APC had some promises in that respect. Don’t forget that APC promised to look at our federation and re-tune it, rework it. And part of the promises was to look into state police.
The Nigerian Labour Congress is threatening to call out Nigerians to embark on strike. The reason is based on subsidy removal, which was alleged would bring untold hardship to common Nigerians. Could you shed light on this issue? What hardship can be greater than what Nigerians passed through in the past four to six weeks, queueing endlessly to buy petrol and at the end of the day buying it at N200, N250, N300 per litre. What hardship can be greater than that? On the flip-side, what we are entering into now is something that would make life a lot easier for Nigerians, getting petrol, making sure that the supply is sustained because with crude oil prices down, why should Nigerians pay so high for refined petrol? That is what government is doing. Now that crude prices are down, this is the opportunity to arrive at appropriate prices for refined petrol. That is why we now have N86 from NNPC, N86.5 from other marketers. And it has also been said that this would be subject to review every quarter. That means if oil prices inch up again, it would affect how much we buy petrol. Labour, I am sure, will look at the matter again and know that it would be better that Nigerians get petrol at clearly affordable prices, reacting to prices of crude oil, rather than a subsidy regime that is fraught with so much corruption.
What are the foreign policy plans of this administration? We just had a Minister of Foreign Affairs, who is settling down. The Ministers would just be two months in office soon. Economic diplomacy is very important for us. We know that we have engaged with the West, we have also gone East. China, for instance, is doing a lot of work with us. Economic diplomacy is very important for Nigerians at this time, because like the President says, no country in the world can afford to stand alone again. Even President Obama said it at the UN General Assembly last September: no country in the world can afford to stand alone again because the things that unite the world now are economy and security. No country can afford to do it alone, so Nigeria’s foreign policy would also be conditioned by that.
Restructuring our federalism, what is the President approach to it? As I said earlier, restructuring the federation is part of the promises the APC made when it campaigned, but you would also agree that it is not a one man show. It is not the President that would say this is the way to do it. No. It has to be a deliberate policy, starting from the party to the National Assembly and then it becomes law and all that. It is not the President that would direct it.
We want to bring five members of this parliament to Aso Rock. I mean people who call in on this radio and present our needs to the President. I assure you that it can be done. I will raise it with the President
Most business people are having problems funding their transactions. What is being done in terms of bridging this? It is not targeted at anybody. It is a policy from the Central Bank. During the Presidential Media Chat, the President promised that he would get the CBN governor to look at the matter again. He said it openly and publicly. But one thing about economic downturn and revival is that it is not at the snap of a finger. Economies don’t collapse in a flash. It is a gradual thing. So you can’t expect that it’s going to be by the snap of the finger and the economy is revived again. It has to be rebuilt, the foundation has to be relaid. That is what this government is doing. Ad with a government that is serious and focused like this one, we would get there. All of us have to be patient to get there. [myad]
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