AFRICAN NEWS FLASH

The Presidency on Saturday said the Attorney-General of the Federation, Abubakar Malami (SAN), has yet to submit the report of the investigation he carried out on government officials to President Muhammadu Buhari. Buhari had recently directed Malami to probe the acting Chairman of the Economic and Financial Crimes Commission,  Mr . Ibrahim Magu ; and the Secretary to the Government of the Federation, Babachir Lawal, over allegations of corrupt practices. The Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, told our correspondent that the AGF has yet to submit his report.

The Presidency has denied that the Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu has been sacked. In a series of tweets on Saturday, Garba Shehu, the spokesman for President Muhammadu Buhari said, ” no report has been made available to the Presidency by the Attorney General of the federation over the matter.” The Senate had rejected the nomination of Magu by Buhari as the Chairman of the EFCC, citing “security reports” as the reason for the rejection. Our source, however, sighted the “security report” by the DSS in which Magu’s activities were alleged to have made him ineligible to hold the office. The letter, dated October 3, was addressed to the Clerk of the Senate, in reference to a letter by the Senate, dated September 21, 2016, asking for Magu’s security check. The report, which listed several alleged malpractices against the EFCC boss, said his confirmation would frustrate the anti-graft drive of the Buhari-led administration. Pa

The naira is one of the world’s four worst performing currencies in 2016, according to a report by Bloomberg LP. The naira was said to have lost 36.68 per cent of its spot returns for the year, while the Egyptian pound, Suriname dollar and Venezuela bolivar’s currency spot returns dropped by 58.84 per cent, 46.68 per cent and 37 per cent, respectively, for the period. The Nigerian equity market fared worst in the year, according to the report, as the nation’s economy is set to contract in 2016 for the first time in more than 20 years as capital controls deter foreigners from investing and militants are blowing up pipelines. The five best performing currencies of the world are the Russian ruble, Brazilian real, the palladium, the Iceland krona, and silver, which appreciated by 21.31 per cent, 20.96 per cent, 20.08 per cent, 14.42 per cent and 14.41 per cent, respectively, in terms of spot returns. Two Africa currencies, the Zambian kwacha and South African rand, emerged as th

Minister of Information and Culture, Lai Mohammed The Federal Government said on Thursday that it had recovered 40 brand new SUV cars from a former permanent secretary. It said that the unnamed former permanent secretary appropriated the vehicles to himself after leaving office. It, therefore, said it would be wrong for it to be accused of fighting corruption without any clear strategy. Rather, it said it was being guided by a well-articulated strategy in its fight against corruption in the country. The Minister of Information and Culture, Alhaji Lai Mohammed,  stated this in a statement. Mohammed said, “The strategy has proven so effective and that it has led to, among others, the recovery of 40 brand new SUVs and other vehicles from one former Permanent Secretary who single-handedly appropriated the vehicles to himself when he left office.” He said the Federal Government was not just fixated on prosecution alone but was also taking preventive measures to ma

* Swaps two directors. Details soon.

More details shortly.

President Buhari to announce new CBN management team after the new year. List of new directors and deputy directors ready. More details soon.

TO make the country peaceful and ensure unhindered oil production, the Federal Government has set aside the sum of N29 billion for countering insurgency, militancy and other forms of threat to national peace in its 2017 budget. Under the outlay captured in the budget of the Defence Headquarters and the Nigerian Air Force, the Federal Government plans to acquire new platforms for counter-air, counter-surface and air operations as well as materials for strategic effect and air support operations in Nigeria. Similarly, the government is to spend additional N6.429 billion for operational logistics while it is to reconfigure two Augusta AW101 Helicopters for military operations at the cost of N620 million within the year. The figure emerged as the Presidency sets aside the sum of N145,869,150 for the old State House in Lagos popularly known as Dodan Barracks even though the seat of government has moved to Abuja. According to the budget documents obtained by us, the money has been set asi

The flight data recorder of the Russian military airliner which crashed in the Black Sea on Sunday has been found, Russian officials say. It is the first “black box” to be found from the Tu-154 jet, which came down with the loss of all 92 passengers and crew. The plane crashed soon after take-off from an airport near the city of Sochi. It was carrying artistes due to give a concert for Russian troops in Syria, along with journalists and military. The plane disappeared from radar two minutes after taking off from Sochi’s Adler airport at 05:25 (02:25 GMT) on Sunday, heading for Latakia in Syria, the defence ministry said. The flight had originated in Moscow and landed in Sochi for refuelling. It was carrying 64 members of the famed Alexandrov military music ensemble, as well as one of Russia’s best-known humanitarian figures, Yelizaveta Glinka, known as Dr Liza, executive director of the Fair Aid charity. The Alexandrov Ensemble had been scheduled to perform a New Year’

The plane crash that killed 71 people in Colombia last month, including dozens of players from Brazil’s Chapecoense football team, was caused by human error, an investigation says. Colombian officials said there was no technical failure and blamed the pilot, the airline and Bolivian regulators. A recording had already indicated the aircraft had ran out of fuel. The plane, operated by Bolivian company LaMia, plunged into a mountainside near Medellin. Only six people survived. Preliminary results of the Colombian investigation said the pilot failed to refuel en route and was too late in reporting engine failures caused by the lack of fuel. Colombia’s Secretary for Air Safety, Col Freddy Bonilla, also said that aviation authorities in Bolivia and the airline accepted conditions presented in the flight plan that were “unacceptable”. “No technical factor was part of the accident, everything involved human error, added to a management factor in the company’s administration and

The convener of the Coalition of Democrats for Electoral Reform, Mr. Ayo Opadokun, has said that the non-confirmation of the acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, is an indication that President Muhammadu Buhari is no longer in firm control of his government. Opadokun, who spoke with journalists on Monday at Offa in the Offa Local Government Area of Kwara State, said that it also indicated that the presidency was divided. He said it was surprising that the Department of State Services, a part of the executive arm of government, wrote a report against Magu, the head of the anti-corruption war, whose confirmation nomination by Buhari was at the Senate. “First, I like to say that President Muhammadu Buhari by conduct and behaviour over Magu’s confirmation is indicating to his admirers and those who voted for him that he is no longer in control of his government. There are two or three major unfortunate developments that are showing a

Rivers State Governor, Chief Nyesom Wike, said on Friday that no amount of intimidation or blackmail from Federal Government agencies would force him into selling the state to external predators. Wike urged the people of the state not to panic, insisting that nobody could take the state by force despite the “sustained blackmail” by the police and the Department of State Services. Speaking when he granted an audience to the Rivers State Elders Council of Ministers, Wike said, “This is a turbulent period. However, we will overcome. They can cow other governors, but not me. “None of them gave me the mandate. The people of Rivers State gave me this mandate and I will never sell the interest of this state for whatever reason. I will not bring out the money of Rivers State to sponsor other people outside the state.” The governor also alleged that security agencies were frustrating the security architecture of the state to further their “devilish plot” to declare a state of emergency and

•I’m ready to testify, says ex-EFCC boss John Alechenu and Eniola Akinkuotu The pioneer Chairman of the Economic and Financial Crimes Commission has been listed as a key witness against a former Governor of Delta State, Mr. James Ibori, who the Federal Government is attempting to repatriate from the United Kingdom. Ribadu had in an affidavit accused Ibori of giving him $15m in 2007 so that the EFCC boss would not initiate a case against him. After receiving the cash, however, Ribadu entered it into evidence after which it was kept in the vault of the Central Bank of Nigeria. Ribadu had said, “Ibori approached me with $15m to stop his investigation. The money was brought in sacks. I called my people because the money was in big bags, which two people could not carry and we deposited it in the CBN as evidence against him.” In July 2012, the EFCC approached a Federal High Court in Abuja, requesting for a final order forfeiting the $15m Ibori bribe which had been in the vaults of the

President Muhammadu Buhari has requested state governors to settle outstanding salaries and entitlements of their workers with at least 25 per cent of refunds to them from excess deductions for external debt service. Malam Garba Shehu, the president’s Senior Special Assistant on Media and Publicity, stated this in a statement he issued in Abuja on Thursday. President Buhari recently approved N552.74 billion to be paid in batches to all the states that are owed. Thirty three of the affected states are, however, expected to receive 25 per cent of their approved sums in the first instance before this week runs out. The refunds arose following the claims by them that they had been overcharged in deductions for external debt service between 1995 and 2002. The statement quoted President Buhari as saying that “the issue of workers benefits, particularly salary and pensions must not be allowed to continue as a national problem and should be tackled with all the urgency that can be summoned.’’

Former Vice President, Atiku Abubakar, has said the current down turn in Nigeria’s economy has exposed the inherent weaknesses of our kind of Federal structure. The former Vice President said this in a series of tweets in response to questions from some of his followers on his twitter handle @atiku on Thursday. He used the opportunity to reiterate his argument that we need to reduce the Federal Government’s control on the economy which he said would make government function more efficiently. Atiku said, “Not only is our Federal Government too large, the economic down turn has exposed fundamental weaknesses. Yes, Federal Government duties need to be reduced / developed” A twitter user, Ademola Babalola @ademola_babs who joined the conversation #Restructuring said, “Let’s take the case of states receiving 13 per cent derivation from oil revenue. This has not had a visible effect on the masses.” In response to his tweet Atiku asked, “Can anyone suggest why, even when

Video footage shows family members, friends and well-wishers jubilating with the former Governor of Delta State, Chief James Ibori after his release from the prison in the United Kingdom Video Player 

The Presidency on Wednesday said the rejection of the proposed $29.96bn external borrowing plan of President Muhammadu Buhari-led administration by the Senate would not affect the implementation of the 2017 budget. The Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, said this while addressing journalists in Abuja. Buhari’s request for legislative approval for the Federal Government’s external borrowing plan for the execution of projects from 2016 to 2018 had suffered outright rejection at the Senate on November 1, 2016. The President had written to both chambers of the National Assembly, asking the legislature to approve the borrowing plan for the execution of key programmes and infrastructural projects across the country. Enang, however, said the 2017 budget would be successfully implemented without the loan. He said, “On the request by Mr. President for approval to take a loan, remember that this $30bn request was not what

The first photos of former Governor of Delta State, Chief James Ibori after his release from prison in the United Kingdom has emerged. See photos below:  Ibori after his release from prison in the United Kingdom.  Ibori after his release from prison in the United Kingdom  Ibori after his release from prison in the United Kingdom

Former governor of Delta State, Chief James Onanefe Ibori has been released from prison. He was released a few minutes past noon upon a court order. His media aide, Mr. Tony Elumenor confirmed the release to us. Ibori was sentenced by a United Kingdom court to prison for 13 years and served out his term midnight yesterday. Expectation of his return home to Nigeria, however, remains murky as friends and associates many of who are gathered in London deliberate on the future of the former governor.

The Federal government has released the postings of the 47 Ambassadors recently appointed by President Muhammadu Buhari. The Ambassadors are currently undergoing a four-day induction which ends on Thursday.  :    Abia: Obinna Chukwuemeka Agbugba (Togo), Adamawa: Salisu Umaru (Senegal), Paragalda Ilyasu Audu (Turkey), Akwa Ibom: Inyan Udo-Inyang (Gabon), Anambra: Okeke Vivian Nwunaku (Spain), Nonye Udo (Austria). Bauchi: Liman Munir (Congo), Benue: Ndem Jane Ada (Sweden), Demenongu A. Agev (Equatorial Guinea), Borno: Mohammed Hassan Hassan (Kenya), Toko Ali Gongulong (Sao Tome & Principe), Lawan Abba Gashagar (Mali), Cross River: Martin Nyong Cobham (Thailand), Odeka Janet Bisong (Zimbabwe). Delta: Janet Omoleegho Olisa (Jamaica), Edo: Itegboje S.Sunday (Permanent Mission in New York), Queen I. Worlu (Cuba). Others are: Ekiti: Olatunde Adesesan (Angola), Emmanuel Kayode Oguntause (Benin), Enugu: Lilian Ijeukwu Onoh (Namibia). FCT: Adamu Onoze Shuaibu (Rwanda), Gombe: Manaja Tula I

Details soon

The Central Bank of Nigeria will try to eliminate the spread between the official and black market exchange rates against the dollar, the Minister of Finance, Mrs. Kemi Adeosun, has said. The naira is trading on the parallel market some 40 per cent lower than the official rate as low global crude prices have dried up vital oil revenues and pushed Africa’s largest economy into recession, according to Reuters. The CBN scrapped a 16-month-old peg of 197 naira to the dollar in June, but it continues to trade in the official market, so that the naira remains far stronger against the dollar there than on the parallel market. The government has blamed that black market for damaging the already shaky economy. “The CBN is working on the elimination of arbitrage,” Adeosun told Reuters by text message, without saying how this would be done. She earlier told a conference that the central bank was working on removing the price difference. Adeosun said this had been in response

The immediate past Attorney General of the Federation and Minister of Justice, Mr. Mohammed Adoke (SAN), may soon be extradited from his new home in Holland as the Economic and Financial Crimes Commission has filed charges before a Federal High Court in Abuja for his alleged role in the $1.1bn Malabu oil scam. The Malabu oil scam, which has been under investigation for over four years, relates to the billions of dollars paid by oil giants, Shell and ENI, into a Federal Government account, for OPL 245, considered the richest oil block in Africa. The money was allegedly diverted by Adoke and paid into private accounts. The EFCC accused Adoke of illegally transferring over $800m to a former Minister of Petroleum Resources, Dan Etete, and Etete’s oil firm, Malabu Oil & Gas Limited from a Federal Government account. The commission also accused oil magnate, Alhaji Abubakar Aliyu, the Chairman of A. A. Group and Rocky Top Services, of receiving $336,456,906.78. The charge

The Ekiti House of Assembly on Tuesday passed the 2017 N93.4bn Appropriation Bill presented to it two weeks ago by Governor Ayo Fayose. The assembly passed the budget as presented by the governor. The Appropriation Bill is tagged “Budget of Consolidation for Higher Heights.’’ In passing the 2017 Appropriation Bill, the House considered the report of its Finance and Appropriation Committee. The bill was presented to the House by the governor for legislative consideration on Tuesday, December 6,2016. It subsequently passed through necessary parliamentary procedures. During the Second Reading, members spoke on the policy thrusts as highlighted in the details of the budget estimates. It was committed into the Committee of the Whole House, scrutinised page-by-page by the members and later passed into law. The speaker, Mr. Kola Oluwawole, in his remarks, said the budget had sensitively taken care of all areas that the administration would look into in 2017. He said, “I want to comm

Ekiti State Governor, Ayodele Fayose , on Tuesday said the plan by President Muhammadu Buhari to borrow $30bn to finance the 2017 budget is not good for the economy. He spoke against the backdrop of Federal Government’s statement that 2016 budget of over N6trn had performed at only about 40 percent. Fayose spoke at the government office in Ado-Ekiti during the distribution of 7,000 eye glasses to indigent Ekiti people who have bad eye sight. He said, “If we borrow this much to finance 2017 budget, it means we will continue to borrow even till 2019 and the rate at which this government is borrowing money, I hope they will not plunge Nigeria into eternal debt, enslavement and misery. “This has been the fear of many who are against taking of $30bn loan. And they will continue to borrow without attempting to concretely tackle the dwindling rate of our currency. “What the Federal Government is doing is wrong. The FG under President Buhari does not have what it takes to lead

President Muhammadu Buhari on Tuesday signed eight bills that had earlier been passed by the National Assembly into law.  The Senior Special Assistant to the President on National Assembly Matters (Senate), Ita Enang, disclosed this to State House correspondents at the Presidential Villa, Abuja. According to the presidential aide, the bills signed into law include the National Judicial Institute Amendment Bill 2016; Advertising Practitioners Registration Amendment Bill 2016; Utilities Charges Commission Amendment Bill 2016; Quantity Surveyors Registration Amendment Bill 2016; Small and Medium Scale Industries Development Agency Amendment Bill 2016. Others are the University of Abuja Amendment Bill 2016; Chartered Institute of Stockbrokers Amendment Bill 2016; and the Treaty to Establish African Economic Community Relating to the Pan-African Parliament (Accession and Jurisdiction) Amendment Bill 2016.  More details to come

President Muhammadu Buhari is currently meeting behind closed doors with Ghana’s President-elect , Nana Akufo-Addo . The meeting is holding inside the President’s office at the President Villa, Abuja. The Ghanaian President-elect arrived the premises this af ternoon

The United Labour Congress and the Nigeria Pilots and Engineers union on Tuesday shut the offices of Arik Airlines, due to the inability of the airline to pay its workers for seven months. The  staff of Arik Air staged a protest at the domestic terminal of the Murtala Muhammed airport over the airline’s failure to the  salary arrears  and other anti-labour practices. The protesters displayed placards containing messages communicating their grievances. The Acting Chairman of ULC, Alhaji Tokunbo Korodo, said in a telephone interview in Lagos that the union could no longer tolerate the inhuman treatment of Arik’s management to workers. Korodo said that apart from owing workers for seven months, the management of the airline was not remitting the taxes of workers to relevant bodies. The unionist said that five executive members of the ULC working in Arik had been sacked. He said, “We have shut down Arik Airlines operations, due to non-payment of seven months salary and n

The Nigerian Communications Commission has said the proposed hike in data tariff by telecommunication companies is meant to protect the interest of the subscribers and prevent monopoly. The Deputy Director, Consumer Affairs Bureau of the NCC, Mr. Ismail Adedigba, said this in Osogbo on the sidelines of the 81st consumer outreach programme held in Osogbo. He said the agency had not given up on the proposed data tariff increment, saying the NCC was working to protect the interest of Nigerians in order to prevent telecom giants from ripping them off at the end. Adedigba explained that some telecoms giants could charge very low tariff just to prevent new entrants in the sector, adding that after warding off competition, they would hike their price astronomically and subscribers would be at their mercy. The NCC boss said, “It is the NCC’s mandate to regulate activities in the industry, to protect the interest of subscribers. That is the reason behind the plan to increase da