Atiku will crack Buhari like ‘cracker biscuits’ – CUPP
Opposition political parties on Monday said the statement credited to the Minister of Information and Culture, Lai Mohammed, that they are arming bandits with the aim of disrupting forthcoming election as a sign of “defeat phobia.”
The national spokesperson of the Coalition of United Political Parties, Imo Ugochinyere, said this at a press conference in Abuja. Ugochinyere said the plan was for the government to frame up opposition leaders and arrest them ahead of the elections.
Describing the allegation as outrageous and laughable, he said opposition parties did not and would not support bandits to disrupt election that they would win. “Atiku will crack Buhari like cracker biscuits at polling booths,” he said.
Ugochinyere recalled that the same minister had claimed that the government would probe Atiku in relation to the collapse of BankPHB while the presidential candidate was in the United States.
“Atiku has since returned to Nigeria, have they filed charges against him since he returned?” he asked.
He said Mohammed’s latest outburst was meant to divert attention from the letter written by former President Olusegun Obasanjo.
End
EFCC Arraigns ‘Pastor’ for Fraud
The Economic and Financial Crimes Commission, EFCC, Ibadan Zonal Office, on January 21, 2019 arraigned one Pastor Isaac Arabambi along with his company, Heroes Investment Company Limited before Justice Joyce Abdulmalik of the Federal High Court sitting in Ibadan, Oyo State, on a four-count charge bordering on obtaining money by false pretence.
Arabambi is also standing trial on another 11-count charge bordering on unauthorized operation of a financial institution and obtaining the sum of N62, 326,250.60 (Sixty Two Million, Three Hundred and Twenty Six Thousand Two Hundred and Fifty Naira Sixty Kobo) only by false pretence, and was earlier arraigned on January 15, 2019 before the same judge.
According to the spokesman of the Commission, Tony Orilade, said one of the four counts reads: “That you Isaac Arabambi and Heroes Investment Limited on or about 14th July, 2016 at Ibadan within the Ibadan jurisdiction of this Honourable Court with intent to defraud, obtained the sum of N1,910,000 from one Lala Sunday by falsely representing that the money would be invested in his Borrowed Fund Account domiciled with you, which representation you knew to be false and thereby committed an offence contrary to Section 1(1)(a)and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offenses Act 2006”.
He pleaded “not guilty” to the charges.
Prosecuting counsel, Mabas Mabur, thereafter, applied for a trial date and for the defendant to be remanded in prison custody.
Defence counsel, Kazeem Olaniyan, however, moved a motion praying the Court to grant him bail.
Justice Abdulmalik granted the defendant bail in the sum of N500, 000 and one surety in like sum, who must deposit his international passport with the Court and must be a civil servant with the Oyo State Civil Service not below grade level 12.
The trial judge held that: “The surety will also depose to an affidavit of mean and must undertake to produce the defendant. The surety must produce a letter of introduction by his organization and also the account statement of his salary account duly endorsed by the branch manager. The surety shall be verified by the Deputy Chief Registrar of the court”.
While adjourning to February 20, 2019 the trial judge ordered that he should be remanded in Agodi Prison pending the perfection of his bail application.
End.
Man, 72, 7 others arrested for duping people through spiritual help
By Moshood Alade
A 72-year –old man, Abiodun Bamgbopa and seven others have been arrested for allegedly defrauding unsuspecting members of the public through spiritual help.
The other suspects are Olashile Raheem (35), Nureni Raheem (32), Raphael Joseph (24), Ganiu Olawale (24), Adenubi Samiu (25), Mustapha lukman (39) and Raimi Ramoni (42).
The suspected syndicates were said to have been arrested at their shrine on January 11, at Ago Iwoye area of Ogun State.
The Ogun State Police Command police Public Relations Officer (PPRO) DSP Abimbola Oyeyemi said, the suspects were arrested following a tip off from members of the public at their suspicious movement in Ago-Iwoye.
He said upon receiving the information, the Divisional Police Officer of Ago-Iwoye CSP Ade Adedoyin immediately directed his detectives to be on the trail of the suspects and technically profile them.
Oyeyemi said, the police detectives were able to trail them to their shrine where they use to swindle their unsuspecting victims whom they deceived by rendering one spiritual help and then defraud them of millions of naira.
After the suspects were arrested, they were taken to Ago-Iwoye police station where they later confessed that they capitalized on the gullibility of their victims to dupe them of millions of naira.
Meanwhile, the Commissioner of Police, CP Ahmed Iliyasu has ordered a thorough investigation into the activities of the syndicate and said they should thereafter be charge to a court after completion of the investigation.
End.
No 5
APC denies losing 5,000 members to PDP in Ebonyi
The All Progressives Congress, APC, Ebonyi State Chapter has denied the report that 5,000 of its members in Ikwo local government area of the state had decamped to join the Peoples Democratic Party, PDP.
The state party Chairman, Hon. Nwachukwu Eze who made this known at the party’s Office on Monday while briefing Journalists, called on the public to disregard the publications published in some national dailies.
Hon. Nwachukwu maintained that the agenda of APC to win the governorship seat and other positions in the forthcoming elections was still on course.
“So we are focus, determined and on daily basis, reaching out to eligible voters to vote for APC candidates in February and 2 March polls.
“Therefore, I urged the public to disregard that publications,” he said.
End.
No 4
Police arrest car-snatching syndicate
Abia State Command of the Nigeria Police Force on Monday announced that its personnel attached to Umuopara Police Station in Umuahia North Local Government Area of the state on an intensive stop and search operation has arrested an armed robbery and car snatching gang.
This was disclosed by the command’s Public Relations Officer, SP Geoffrey Ogbonna in a statement released to journalists on behalf of the state commissioner of Police, Mr. Chris Ezike.
Ogbonna in the release gave names of the four-man gang members as Alegu Anaeto ‘m’ of Ezea, Ebonyi State, 22yrs, Daniel Omeh ‘m’ of Mgbo, Ohaukwu LGA Ebonyi State, 25yrs, Peter Onuameme ‘m’ of Obowo Imo State, 38yrs and iv. Emeka Ibeh ‘m’ of Obokwu Obizi Ezinihitte Mbaise Imo State, 48yrs.
The police personnel was also said to have recovered a Toyota Sienna SUV with Registration number HM 67 EKY, which they allegedly snatched on gunpoint from its owner, one Iwuchukwu Prince Chimuanya of No. 24 Amaigbo Road, Port Harcourt in Rivers State.
The suspects were said to have also made away with cash sum of hisN25, 000.00, Permanent Voters’ Card, original Driver’s License and other valuables of the victim.
According to Ogbonna the Umuopara officers intercepted Alegu Anaeto with the vehicle and when he was questioned, he could not give proper account of the vehicle.
Anaeto was later transferred to the Command’s Anti-Kidnapping Unit where he made confessional statements that led to the arrest of his cohorts and revelations of more of their escapades.
It was learnt that the Commissioner of Police has directed the immediate transfer of the suspects to Rivers Command, where the matter was originally reported.
Ogbonna said that arrest of the suspects and recovery of the SUV was because of the determination of the Police Commissioner to purge Abia of crime and criminality which was why he (Ezike) created tactical operational units which include Anti-Kidnapping Unit, Monitoring Unit and Anti-Cultism, stressing that the units since their creation have made significant and remarkable marks in investigations and crime fighting in the State.
End.
No 1
INEC denies being under pressure to rig elections
Independent National Electoral Commission, INEC, has denied being under pressure from any quarter to rig the forth coming general elections in favour of any candidate or political party. INEC boss
The body said contrary to insinuations in some quarters, it has no preferred candidates, vowing to surpass the 2015 general elections in terms of credibility
INEC chairman, Prof. Yakubu Manhood, who spoke Monday, in Abuja during a meeting he held with the acting Inspector General of Police, IGP,Mohammed Adamu, was responding to a question from newsmen following allegations by the former president, Olusegun Obasanjo last Saturday.
End
No 2
Confusion as Lagos Assembly claims ignorance of Ambode’s 2019 budget presentation
The crisis of confidence between the Lagos state governor, Akinwunmi Ambode, and the state House of Assembly deepened on Monday as the lawmakers denied being aware of the governor’s planned presentation of 2019 budget proposal.
Journalists who arrived at the state’s Assembly lobby about 2:30pm were approached by one of the Speaker’s aides who asked them to vacate the premises as the Speaker was said not to be in the know of the planned visit of the governor for the presentation.
End
No 3
Benue Assembly suspends 6 LG Chairmen, APC says it’s politically motivated
Benue House of Assembly has suspended six Local Government Area Chairmen for three months, over alleged misappropriation of public funds and gross misconduct.
The House suspended the Chairmen on Monday during plenary in Makurdi.
The suspended chairmen were that of Oju LGA, Mr Augustine Okwoche, Makurdi LGA, Mrs Justina Akange Audu, Kwande LGA, Mr Terdoo Kenti and his vice, Mr Aondowaser Andrew. READ ALSO: OYO: Aggrieved APC members who defected are not genuine progressives – Adisa Others were the chairmen of Agatu LGA, Mrs Comfort Echoda and her vice, Mr Joseph Ngbede, Okpokwu LGA, Mr Francis Oguche and Gboko LGA, Mrs Becky Orpin.
The house had received a correspondence from the State Governor, Samuel Ortom, accusing the suspended chairmen of misappropriating local government funds, gross misconduct and abuse of office. Ortom, in his correspondence, urged the house to approve the suspension of the accused Chairmen.
In its decision, the House unanimously agreed that the chairmen be suspended for three months while they investigate the allegations against them, saying that their offences were contrary to the Local Government Area Law.
All the local government Chairmen suspended are members of the All Progressives Congress. Mr James Ornguga, the publicity Secretary, of the All Progressives Congress (APC) in the state, has described the suspension of its six local government Chairmen in the state as being politically motivated.
Ornguga speaking on Monday in Makurdi said that the allegations of financial impropriety against them were smokescreen.
” If you say, their suspension is due to financial impropriety, how about that of Buruku local government council Chairman, who is related to the governor. “
There are more damaging allegations against her but the governor has chosen to sweep them under cover.
“The Chairman of Apa local government had the same issues against him, but as soon as he decamped from the APC to the PDP, all allegations were dropped.
“The governor is just being vindictive and punitive just because the Chairmen refused to decamp to the PDP with him; the man is just revealing his true colors, but not to worry, he has but a short time to leave office,” he said.
Also commenting on the suspension of all 8 APC lawmakers by the Benue Assembly, Ornguga said the matter was already in court.
End.
Biz stories
Political consideration’ll drive MPC’s decision-Experts
The chair of the banking and finance department of the Nasarawa State Department, Prof. Uche Uwaleke, has posited that the outcome of the Monetary Policy Committee (MPC) meeting.
Prof. Uwalake, who made this known to journalists in Abuja, noted that despite the increase in the inflation rate, the Committee may not be in a hurry to tinker with the MPR.
“Regarding the forthcoming MPC meeting, I see members voting for a hold on the policy parameters.
“The reality is that in spite of the increase in last month’s inflation rate to 11.4 per cent, the MPC is not likely to further tighten monetary policy in order not to jeopardize the chances of the ruling party in the coming elections. So, in a way, political consideration will be a major factor.
This appears to be the trend in many countries regardless of central banks’ independence. Recall that in the run up to the Presidential elections in US, the then Chairman of the US Fed Reserve was accused by Donald Trump of deliberately keeping the policy rate low to favour the Democratic party.
According to Nigeria’s first capital market professor, the MPC will be mindful of the current political uncertainties and so will go for maintaining the status quo.
“Of course, the usual justifications with respect to global and domestic factors will be used to support the hold-rates stance.
“The implication of maintaining the status quo is to stabilize the macro environment in a period of election.
He further added that “An increase in say the MPR will worsen the already high interest rate environment to the detriment of production and economic growth in general. It will also push up borrowing costs.
“This won’t be good news for a government seeking to partly finance the budget deficit from domestic loans.
“On the other hand, inflation rate has resumed an upward trajectory while foreign investors are still fleeing the country in search of higher yields in the US. So MPC is constrained not to lower MPR.
“The compelling option is therefore not to upset the apple cart by holding the rates,” he added.
Ends
NSE, Afrinvest launch factor ‘Equity Indices’ to optimize investors’ returns
The Nigerian Stock Exchange and Afrinvest Securities Limited (ASL), a leading capital market research and securities execution platform, have launched two new factor indices: the NSE-Afrinvest Banking Value Index (NSE-Afr BVI) and NSE-Afrinvest High Dividend Yield Index (NSE-Afr HDYI).
NSE-Afr BVI and NSE-Afr HDYI were designed in response to requests for applicable benchmarks for measuring value in banking stocks and high dividend stocks listed on the Exchange.
Both platforms will serve as tools for investment managers and corporate treasuries seeking appropriate benchmarks to evaluate the performance of their portfolios to a segment of the banking sector or high dividend orientation as applicable.
The indices can also be used as the performance target in index-replicating financial products such as Exchange Traded Funds and Derivatives.
On the launch of the indices, NSE’s Chief Executive Officer, Mr. Oscar Onyema, remarked that “In view of rising demand for financial products that adequately meet the needs of market participants, particularly investors, the Exchange is pleased to collaborate with Afrinvest West Africa on these novel index strategies. The indices consider the fundamentals of underlying securities. We commend Afrinvest for its product innovation and for leveraging the Exchange’s Index calculation and management expertise”.
“The Exchange is committed to driving sustainability of our marketplace and supporting investable product creation endeavours by stakeholders to enhance the depth of the market. We will continue to welcome innovative solutions to identifiable gaps in the capital market”.
Group Managing Director, Afrinvest West Africa, Mr. Ike Chioke, also said “Afrinvest West Africa is proud and excited at the rollout of the new indices in collaboration with The Nigerian Stock Exchange. It is our belief that this partnership will serve as a veritable proponent for more forward-thinking initiatives meeting market needs. On the back of these indices, investors will now enjoy the benefits of proxies that seek out dividend-paying stocks and value-oriented banking stocks listed in Nigeria”.
The NSE-Afr BVI and the NSE-Afr HDYI as with all other NSE indices will align with the NSE’s Index committee’s governance standards. Guidelines and methodologies for the indices are publicly available on the website of NSE and Afrinvest.
End
Equity market opens week on negative note, sheds N102bn
Trading activities on the floor of Nigerian Stock Exchange on Monday returned to negative trend as profit taking hit the market, shedding N102 billion.
Specifically, market capitalisation of listed equities declined by 0.88 per cent to N11.460 trillion from N11.562 trillion traded on Friday.
The NSE All Share Index also depreciated by 272.45 basis points to 30732.72 points from 31005.17 points reported the previous day. Investors traded 499.211 million shares worth N5.531 million in 3874 deals against 300.803 million shares valued at N3.764 billion in 3317 deals.
Cement Company of Northern Nigeria led gainers table during the day, appreciating by N1.80 kobo to close at N26.90 kobo, NEM Insurance followed with a gain of N0.12 kobo to close at N2.60 kobo, FCMB appreciated by N0.07 kobo to close at N1.83 kobo, Linkage Assurance added N0.05 kobo to close at N0.61 kobo, United Bank for Africa grew by N0.05 kobo to close at N7.35 kobo Seplat Petroleum Development Plc topped losers chart , dropping by N46.00 to close at N530.00, Mobil Oil trailed with a loss of N8.00 to close at N180.00, Dangote Cement down by N4.90 kobo to close at N190.00, Wapco fell by N0.40 kobo to close at N12.40 kobo while Etranzact depreciated by N0.31 kobo to close at N3.25 kobo.
The NSE transactions for the day showed that Diamond Bank was the most active stock, exchanging 239.356 million shares worth N497.886 million, Guaranty Trust Bank followed with account of 119.345 million shares valued at N3.796 billion, Zenith International Bank sold 26.107 million shares cost N563.197 million, NEM Insurance traded 21.156 million shares cost N57.459 million while FBNHoldings traded 15.965 million shares valued at N115.640 million.
Ends
Alleged N2.2bn Fraud: Obanikoro Testifies Against Ex-Gov. Fayose
A former Minister of State for Defence, Musiliu Obanikoro, on Monday, January 21, 2018, told Justice Mojisola Olatoregun of the Federal High Court sitting in Ikoyi, Lagos how in 2014, he gave various sums of money to a former governor of Ekiti State, Ayodele Fayose, who is being prosecuted for an alleged N2.2 billion fraud.
Fayose was arraigned along with his company, Spotless Investment Limited, on October 22, 2018 on an 11-count charge bordering on fraud and money laundering to the tune of N2.2 billion.
Acting Head, Media & Publicity, Tony Orilade said Fayose is facing trial in connection with N1.299 billion and $5.3 million out of the N4.65 billion slush funds allegedly shared by the Office of the National Security Adviser, ONSA, through a former Minister of State for Defence, Musiliu Obanikoro.
Fayose pleaded “not guilty” to the charges and was granted bail in the sum of N50 million with one surety in like sum.
Obanikoro was led in evidence by the prosecuting counsel, Rotimi Jacobs, SAN.
He said: “In June 2014, when we were approaching the gubernatorial election in Ekiti State, I received a call from Mr. Fayose wanting to know if there was any message from the office of the then National Security Adviser, NSA, Col. Sambo Dansuki (retd). But I said ‘no’ and promised to get back to him.
“I later confirmed to him that a message had come from the Office of the NSA.
“Prior to that time, I had a responsibility of maintaining the account for the security of Lagos State.”
In his further evidence, the former Minister confirmed receiving a sum of N200 million on June 5, 2014 and another sum of N2 billion on June 16, 2014 out of the imprest from the ONSA.
When asked what he did with the money, he said,“I called Mr. Fayose to ask him how he wanted the money to be remitted.
“Mr. Fayose told me that I should change the Dollars into Naira.
“I actually wanted to say that Diamond Bank should remit the Naira equivalent to their Bank in Ekiti.
“But the manager said they could not do that in Ekiti because they did not have such capacity.
“On June 17, 2014, a sum of N560 million was transferred to him.
“I instructed the bank manager to bring the money to Akure, and it was brought through the private wing of Ikeja, Lagos Airport.
“The money was loaded into two aircrafts.
“Mr. Fayose had earlier informed me about Mr. Biodun Agbele, whom he described as his contact person to take delivery of the money.
“Then, I sent Mr. Agbele and the Bank manager to Spotless Hotel in Ekiti.”
He also told the court that there was a phone conversation on another occasion to deliver another huge sum of money to Mr. Fayose three days to the Ekiti State election.
He added that: “The money, again, was from the NSA imprest.
“There is a young man called Kareem Taiwo, who was working for the government on security issues.
“He was the one I told that we had a very serious security issue in Lagos around that time.
“But I don’t think I want to divulge the reason for the security account through which the monies were issued.”
When he was asked if he wrote a statement with the EFCC, he answered in the affirmative, saying, “Yes, I was outside the country for about one year. I was in the United States of America, USA.
“That is why I reported to the EFCC directly to avoid embarrassment when I returned home”.
Justice Olatoregun adjourned the matter to February 4, 5 and 6, 2019 for cross-examination of the witness.
