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House backs bill to prohibit bank employees from operating foreign accounts
A bill seeking to prohibit bank employees from operating foreign accounts has passed second reading at the house of representatives. The bank employees’ declaration of assets act amendment bill also seeks to mandate the bankers to declare assets of their spouses and children less than 18 years old. The Economic and Financial Crimes Commission (EFCC) had in March ordered those in the banking sector to declare their assets in accordance with the act, raising questions as to the legality of such directive. Newsmen reported that the bank employees’ declaration of assets act requires bank board members, managing director, general managers, clerks, cashiers, messengers, cleaners, drivers, and any other category of workers — whether part‐time, casual or temporary — to declare their assets. Leadin...
Manchester City willing to break £100 million barrier to sign Aston Villa skipper
Manchester City are willing to break the £100m barriers to sign Aston Villa captain Jack Grealish. The Daily Mail says Grealish has long been admired by Pep Guardiola and City’s manager wants the 25-year-old at the hub of what he hopes he will become the second great team of his reign in Manchester. Villa rewarded Grealish last September with a lucrative new contract and the club captain still has four years to run on his deal. His importance to Dean Smith’s side is huge and, as such, they would not entertain selling their local hero for anything less than a new British transfer record. City have not had the most expensive player in the Premier League since they signed Robinho for £32.5m at the start of the Abu Dhabi era in September 2008 but there is recognition that recruiting Grealish w...
President Buhari seeks international support for peaceful transition in Chad
President Muhammadu Buhari Tuesday called on the international community to support a peaceful transition from military to democratic government in Chad. He made this known at a summit put together to discuss recent developments in Chad after the death of President Idris Deby last April. At the summit, Mr Buhari called on: “development partners and countries particularly France, the United States, United Kingdom, Germany, the Netherlands, and Russia; the United Nations, the African Union and the European Union, as well as other friendly and partner nations to support the transition framework put in place by Chad’s Transition Military Council led by General Mahamat Idris Deby.” ‘‘The need to support the Chadian government to effectively carry out its planned 18-month transition is sacrosanc...
BudgIT: Over 315 capital projects duplicated in 2021 budget
BudgIT BudgIT, a civic-tech non-profit organisation, says it has uncovered 316 duplicated capital projects worth N39.5 billion in the 2021 budget. In a statement, Iyanu Fatoba, communications associate at BudgIT, said the organisation’s findings is contained in its publication titled, “Demanding Budget Reforms for Resource Optimization”, released on Tuesday. On December 31, President Muhammadu Buhari signed the 2021 appropriation bill of N13.588 trillion into law. The signing was done more than a week after federal lawmakers passed the budget and raised its total sum by N508 billion. Speaking on the report, Gabriel Okeowo, BudgIT’s CEO, said out of the identified 316 duplicated projects, 115 are in the ministry of health. He said the development is “very disturbing” as the country is battl...
Red Cross condemns ‘horrific’ sexual violence in Ethiopia’s Tigray
The Red Cross voiced alarm Thursday over “horrific” accounts of sexual violence in Ethiopia’s conflict-hit Tigray region, amid fears that rape was being used as a weapon of war. Robert Mardini, director-general of the Geneva-based International Committee of the Red Cross, said the organisation’s staff in hospitals and clinics in the region were hearing first-hand of extreme sexual violence. “Those reports are extremely horrific, very shocking,” he told AFP in an interview, adding that this was a “matter of grave concern”. “I haven’t heard such terrible accounts for more than two decades in the humanitarian sector,” said Mardini, who among other things closely followed the civil wars in Syria and Yemen when he headed ICRC’s Near and Middle East division from 2012 to 2018. “Many of my humani...
NIMASA: SPOMO act improving Nigeria’s image
The Nigerian Maritime Administration and Safety Agency (NIMASA) says the Suppression of Piracy and Other Maritime Offences (SPOMO) Act, is improving Nigeria’s image in its fight against piracy and sea robbery. Dr Bashir Jamoh, Director-General, NIMASA, said this in a statement on Sunday in Lagos. He said that the Act signed into law by President Muhammadu Buhari in June, 2019 was to end piracy and sea robbery in Nigeria and the Gulf of Guinea. He made this known at the maiden edition of the Nigerian Admiralty Law Colloquium organised recently in Lagos by the agency, in collaboration with the National Judicial Institute (NJI). The colloquium had the theme, “Achieving Maritime Safety, Security and Shipping Development (TRIPODS) through Enforcement of Legislations and the Implementation of th...
Analysts: Printing currency could hurt economy
Analysts have expressed concerns over a recent claim that the federal government resorted to printing money to augment the monthly allocation to the three tiers of government, warning that it could heighten inflationary pressure with dire consequences for the country’s exchange rate and economy. The analysts, in separate interviews with newsmen, warned that a sustained policy of printing the currency, if not well managed, would hurt the economy. The concern came on the heels of recent revelation by Governor of Edo State, Mr. Godwin Obaseki, that due to the dwindling revenue in the face of declining oil revenue arising from the growing sources of alternative sustainable energy, the federal government had to print money to augment the amount available for sharing by the federal, state and lo...
Report: US says ex-Egypt premier had diplomatic immunity from lawsuit
The Biden administration has said a lawsuit seeking to hold former Egyptian Prime Minister Hazem el-Beblawi accountable for alleged involvement in torture against an Egyptian-American activist should be thrown out because he held diplomatic immunity, the Washington Post reported on Monday. In a submission to the US District Court in Washington, DC, shared by the Post, lawyers for the US Justice Department said “El Beblawi held diplomatic status at the time when the suit was commenced” and the court should dismiss “claims falling with the scope of his immunity”. El-Beblawi had served as Egypt’s representative to the International Monetary Fund, but quit and left the US in late October, the Post reported. The department said in its court filing that it was not making any judgements on the me...
Court urged to restrain Nigerian government on £4.2 million James Ibori loot
The Federal Government has been sued over its planned use of the £4.2million linked to former Delta State Governor James Ibori. The President, League of Ndokwa Professionals (LNP), Chief Tony Amechi and Legal Adviser, Evans Ufeli, on behalf of the people of Delta State, are challenging the Federal Government’s plan to deploy the funds to projects outside Delta. The Attorney-General of the Federation (AGF), the Federal Executive Council (FEC) and the Minister for Finance are the defendants. In their originating motion, the plaintiffs seek a declaration that the first and second defendants’ decision to deploy the yet to be repatriated sum of £4.2million belonging to Delta State government (when repatriated) for Federal Government’s projects is unconstitutional and repugnant to natural justic...
Court declares SEC sanctions against Oando management null, void
Wikipedia Oando shareholders in the persons of Alhaji Yakubu Gumel; Alhaji Kabiru Tambari, suing for himself and on behalf of the Sokoto Zone Shareholders Association; Tunde Badmus, suing for himself and for the benefits of Pacesetters Shareholders Association, bagged yet another win at the Federal High Court (FHC) Kano, in a suit filed against the Securities and Exchange Commission (SEC) for overreaching its powers. Justice A. Lewis Allagoa presiding over the ruling dismissed the regulators preliminary objection and granted all the reliefs sought by the Oando Shareholders. The FHC Kano dismissed SEC’s objection on the basis that the shareholders’ claims fall under their rights as shareholders according to the Companies and Allied Matters Act (CAMA) and is therefore not a capital markets i...
Lagos chamber projects positive economic recovery by Q2
The Lagos Chamber of Commerce and Industry (LCCI) has projected a return to positive growth path for the Nigerian economy in the second quarter of 2021. Mrs Toki Mabogunje, President, LCCI, addressing journalists at the first edition of the chamber’s quarterly news conference, said the projection was subject to the absence of major economic shocks. Mabogunje, however, said that the projected recovery was expected to be subdued within the region of one per cent. “Projections by the World Bank and the International Monetary Fund put Nigeria’s annual average growth for year 2021 at 1.1 per cent and 1.5 per cent, respectively. “Expectation of slow growth momentum reflects the lingering effects of the pandemic on the Nigerian economy and prospects of stricter containment measures considering th...
Akwa Ibom cancels state events, caution residents
The Akwa Ibom State Government has cancelled all state events requiring large gatherings as it confirmed 48 new cases of COVID-19 in the state. A statement by the Secretary to the State Government (SSG) and Chairman of the COVID-19 Management Committee, Dr Emmanuel Ekuwem, cautioned residents against acts that might lead to another lockdown with its attendant consequences. He said; “large political meetings are discouraged until the current spike of COVID-19 infections is reduced. “Religious leaders must adhere strictly to the guidelines and protocols for programmes as developed by the Christian Association of Nigeria (CAN) and submitted to the government. “School administrators must ensure compulsory and proper use of face mask by students, teachers and everyone in the school premises.” T...
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