Some visually impaired people in Niger state this evening
staged a protest on the streets of Minna the state capital,
against the plan by the state government to ban them from
begging on the streets. The law had already been passed by
the government and is expected to take effect from tomorrow
July 25th. Continue to see more photos.
The Afrobeat brothers pictured in New York where Femi had a
performance at Prospect park last night.
Actress and singer, Tomi Odunsi aka Shalewa of Tinsel is
now legally married to her beau, Seun Fadina. Her sister
shared these photos from their court wedding held last Friday
and wrote: "Legally sealed. #mrandmrs.'' More photos after
the cut.
The deputy senate president who is standing trial alongside
his boss, Senate President Bukola Saraki, for alleged forgery
of senate standing orders, tweeted this today July 24th.
Another tweet after the cut.
A traffic warden, earlier today, was hit by an Ifesinachi bus
while on duty at Anguldi-Vom junction, Jos. The driver of the
Marco Polo bus reportedly fled to escape the angry mob
leaving his passengers behind. The victim was taken to the
hospital where he is currently receiving treatment. Meanwhile,
the police seized the bus and towed it to their station.
Business Man and Senator, Ben Murray-Bruce, pictured at
age 18. He shared this via his Facebook page. Nice afro!
President of football’s world governing body (FIFA) - Mr
Gianni Infantino and the Secretary General, Fatma Samoura
arrived today in Abuja, Nigeria on a two day working visit.
They were received at the Nnamdi Azikiwe International
Airport by NFF President, Amaju Pinnick, members of the NFF
Board and some football club owners in the country. More
photos and the video showing his arrival after the cut.
Ekiti state governor, Ayo Fayose today gave tubers of yam he
received from a traditional ruler to residents of Irona area of
Ado Ekiti the state capital. More photos after the cut.
18 year old Abba Usman who has been arrested by the police
for allegedly participating in the July 15th attack by some
Muslim youths on St. Philips Catholic Church in Suleja, Niger
State, says himself and his group attacked the church
because the church members were playing their music so
loud which was disturbing them as they were holding their
Juma'at service at about the same time. Usman who is from
Manumfachi in Katsina State and has no fixed address, said
they attacked the church for having the effrontery to disturb
the peace of the mosque while prayers were going on.
“We went to the church to teach them a bitter lesson
so that they will never disturb the peace of the mosque
again, especially on a Friday when we are having a
prayer. They have the whole of Sunday to themselves
and we have never disturbed them from doing their
own programmes. “We all entered the church and
vandalised some of their property, while we took some
of their musical instruments and other valuables. I
went for two of the microphones with the aim of
selling them, but I was not lucky as I was caught with
them” he said while being paraded in Niger state.
The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi Ojaja II and his
wife Olori Wuraola who are presently in Ghana, visited the
Cape Coast Castle of Slaves in Ghana. See more photos after
the cut.
– Evidence of Yakubu Dogara, the speaker of the House of Representatives ofNigeria, involvement in 2016 budjet padding have been presented– There’s also information about Mr Dogara inviting the lawmakers to his house to swear an “oath”According to Sahara Reporters investigation, Yakubu Dogara, the speaker of the House of Representatives of Nigeria, along with three other principal members of the Nigerian House of Representatives have padded the 2016 budget.FLASH: How@SpeakerDogaraand other House of Reps@HouseNGRleaders padded 2016 budgetpic.twitter.com/gYVzCrkwjp— Sahara Reporters (@SaharaReporters)July 24, 2016The news website has backedprevious accusations made by Abdulmumin Jibrin, the former chairman of the House committee on appropriations, by providing a series of documents with hand-written remarks.READ ALSO: Revealed, real reason Dogara sacked chairman of appropriation committeeBesides, Mr Dogara is reported to have close relationship with Iyiola Omisore, a Nigerian businessman and politician who was Deputy Governor of Osun state. The speaker is also accused of taking the lawmakers to his home to swear an “oath”.FLASH: Now revealed that@SpeakerDogarahas close ties with Iyiola Omisore and that he frequently took Reps to his home to swear an “oath”— Sahara Reporters (@SaharaReporters)July 24, 2016Recall that recently Mr Jibrin has complained aboutMr Dogara blackmailing and using the police force to harass, monitor and intimidate him.Meanwhile, Mr Dogara has reacted to the accusations and come out with hisown version of the story, wondering why Mr Jibrin kept all his revelations to himself until now.
According to the Daily Mirror,Manchester United midfielder Bastian Schweinsteiger will leave Mourinho’s side in summerThe Germany International costed only €9 million, however the playmaker has made only 18 appearances for the club.Came in as a World Cup winner, an European champions and one of the best midfielders of his generation but there is a general feeling that Manchester United bought him two years late.PAY ATTENTION: Get the latest sports news on Naij Sports AppSure the former Bayern Munich man showed his quality in flashes but injuries disappointed his rhythm and his transfer looks like money wasted as United look likely to miss out on top four places.Bastian Schweinsteiger injuredThe midfielder’s knees have sold him out while the sideways possession tactics of Van Gaal did not help his course.FinallyJose Mourinho is set to sign Paul Pogba from Juventus, and his arrival will edge Schweinsteiger closer to the exit door
Building relationships is a real art, and it takes much patience on the part of both partners to keep their feeling on fire. Any of us has bad days, and it’s important for a partner to show support and understanding during hard times as well. Unfortunately, sometimes a series of silly misunderstandings turns into a serious issue and threatens to ruin everything you’ve worked on for so long.In such case, the first thing to do is to recognize that your relationship faces challenges and requires fixing. No need to rip your hair out dwelling on past mistakes and ways to avoid them. The mill cannot grind with the water that is past. It needs a fresh stream to move on.You also need to take a fresh look at your relationship. Think carefully what might have gone wrong and try to put yourself in your partner’s place. Be sure, though it may sound too simple, this step is a huge milestone in your love recovery journey. In case you don’t know where to start, check the belowlist of most common feelings killers.1. BoredomNo one expects you to be a resident of Entertainment City and strike your partner with a Broadway show each evening. But if you notice that you haven’t spent a single night our during the last month, and the only thing you’re up on Friday evening is checking your Facebook page, it’s high time to figure out how to escape routine. A zoo visit, a weekend sea trip or a theatre opening night might be a working strategy to win your partner’s attention back. Keep in mind that communication is a basis of understanding, so talk to your boyfriend or girlfriend and find out their preferences.2. Big changesIf you’ve recently changed your job, residence or experienced some mental shift, you probably feel different about everything that’s going on in your life. But your partner may not know about such developments, and eventually, hardly find explanations for some of your acts. A simple conversation works magic and saves you from paying big money for family psychologist visits.3. Absence of desireIt’s hard to find more terrible feeling than the one when your partner no longer sees you as a good lover. Making love is an important component of any relationship as communication, respect, emotional involvement, etc. So ifyou feel that you don’t wait for a night to come the way you used to, seek a bit of diversity. Rent a room in a love hotel to change your everyday bedroom surrounding or visit an erotic shop together with a partner to pick up a few toys you both would like to try. Find an erotic video that will remind your partner of times you used to have and push them to make new experiments.4. NeglectThere are some points in a relationship when you completely ignore your partner without even understanding it. For example, if you’re in the middle of research paper defence or facing some health issues, it’s hard to find a minute to ask about what’s new in their lives. But you’d better start paying some attention to their needs because, otherwise, it may happen that after you overcome your difficulties, there will be nobody around to celebrate with you.5. Too much criticismFollow you each time your partner asks your advice on what to wear or which café to choose for your anniversary celebration. If you’ve noticed that each your answer contains a bit of criticism, this may be the beginning of the end. Also, watch your words when you’re talking about their family members.Nobody expects you to be crazy about their parents, but you should understand that your partner loves and cares about their relatives, and if you don’t want them to feel distant, be patient and show some sensitivity.
Singer Tinashe Kachingwe put her boobs on display in a
yellow bikini. Tinashe is rumored to be currently dating Taylor
Swift's ex boyfriend, Calvin Harris. Photo of the couple after
the cut...
Ebube Nwagbo is obviously in the best shape of her life. In a
photo posted on Instagram moments ago, the actress is
wearing a sports bra and grey spandex that showed off her
perfectlly toned abs and great figure.
In furtherance to ongoing tactical operations to degrade the
capabilities and hide-outs of criminal gangs/ syndicates
across the Federation, this Service wish to apprise the general
public of recent successful progress recorded so far in the
drive.
2. On 21st July, 2016, one Jones ABIRI aka General Akotebe
DARIKORO (pictured) was arrested by this Service in Yenagoa,
Bayelsa State. DARIKORO is the leader of the Joint
Revolutionary Council of the Joint Niger Delta Liberation
Force (JNDLF), which has been furthering separatist
tendencies in connivance with other criminal gangs in the
Niger Delta region. DARIKORO, who operates under the nom-
de-guerre “General-Kill and Bury”, has confessed and owned
up to some criminal activities committed by the JNDLF, which
include:
- The vandalism of Nigeria Agip Oil Company (NAOC) trunk
line in Ogboinbiri, Southern Ijaw LGA and bombing of oil
pipeline belonging to Shell Development Company (SPDC) at
Brass creek on 8th July, 2016, all in Bayelsa State;
- Threat messages to managements of NAOC and SPDC
demanding for the payment of the sum of Five Hundred
Million Naira (N500m), and Two Hundred and Fifty Million
Naira (N250m) respectively;
- Threat to launch missile attacks against selected targets in
Abuja including the Presidential Villa, Aso Rock;
- DARIKORO is also the mastermind of the recently circulated
hoax of planned overthrow of President Muhammadu BUHARI,
GCFR, by the military;
3. Similarly, on 21st July 2016, one Stephen MAMAYEBO aka
OSCAR, (pictured) a suspected militant was arrested at
OMPADEC Primary School in Yenagoa, Bayelsa State.
MAMAYEBO was arrested in connection with the kidnap of an
expatriate staff of Setraco Construction Company and
subsequent murder of two (2) soldiers, namely Garba UMAR/
Sgt and Bashir KABIRU/Pte, along Ogbia-Nembe road on 5th
April, 2016.
4. Furthermore, on 20th July, 2016, at Travelers Mosque,
along Kaduna-Zaria Highway in Igabi LGA of Kaduna State,
the trio of Ismaila SHUAIBU, Kabiru NASIRU and Inusa
ABDULLAHI were arrested during a tactical raid by this
Service. The trio were members of a notorious kidnap gang
which has been terrorizing innocent citizens along the Abuja-
Kaduna highway, and other environs within Kaduna State.
5. On 22nd July, 2016, about 1730 hours, at Total Petrol
Station, along Aba road in Port Harcourt, Rivers State, one
Chukwunyere Austin OKWAA was apprehended by the Service.
OKWAA has been issuing death threats against the former
Acting-Managing Director, NDDC, Ibim SEMENITARI (f).
6. In continuation of its fight against terrorism, on 21st July,
2016, this Service apprehended one Bulama Mohammed
RAMAT aka Muhammad Bashir MUHAMMADU at Jabi Motor
Park, in Utako, Abuja. Prior to his arrest, MUHAMMADU was
planning to attack the Federal Capital Territory (FCT) and its
environs, in collaboration with other elements of an extremist
cell of the Boko Haram group.
7. On 22nd June, 2016, a raid on suspected criminals/
miscreants hide-outs behind Ado Bayero Quarters at Naibawa
area of Kumbotso LGA of Kano State, resulted in the recovery
of one (1) AK-47 rifle with twenty-eight (28) rounds of live
ammunition. Other items recovered during the operation are
one (1) Browning model pistol with two (2) rounds of live
ammunition and a P5 pistol with ten (10) live rounds.
8. Also, on 22nd July, 2016, the Service apprehended one
Saidu YAHAYA, during the screening of prospective Hajj
pilgrims at the Muslim Pilgrims Board in Jos, Plateau State.
YAHAYA has been under the radar of the Service as a black-
market and illegal gunrunner who has been supplying arms
and ammunitions to criminal and ethnic/religious bigots in
Plateau, Taraba, Benue and Nassarawa States.
9. In another development, on 19th July, 2016, one Samson
Chijioke NZEGWU was arrested at Obuofia village, in Nkanu-
West LGA of Enugu State. NZEGWU is the ring-leader of a
criminal-syndicate which has been using cloned/forged
paraphernalia of the Enugu State Governor, Ifeanyi Lawrence
UGWUANYI, to defraud members of the public. During his
arrest, the sum of One Million Naira, three (3) laptops, ten
(10) different mobile phones, and other incriminating items
were recovered from him.
10. On 17th July, 2016, at Idi-Mango Ore area in Odigbo LGA
of Ondo State, one Esan Abiodun CHRISTOPHER aka
MAIYEGUN was arrested by this Service. CHRISTOPHER is a
member of the Reuben AKINBEHINJE-gang which
masterminded the kidnap of two (2) Catholic nuns and their
driver in Akure, Ondo State. The suspect was apprehended
while coordinating plans to hijack fuel-supply tankers in Oyo
State. He is currently under detention with five (5) other
members of his criminal gang, with whom he had
masterminded the hijack of several fuel tankers in Ondo, Oyo,
Osun, Kwara and Kogi States respectively.
11. This Service wish to urge all citizens and residents to
remain vigilant and report all suspicious persons, parcels or
vehicles to the nearest security formation. Members of the
public are further enjoined to see our societal and individual
safety as our collective responsibility and therefore support
security and law enforcement agencies with critical
information that would assist in providing a safe environment
for all to carry out their legitimate business without let or
hindrance.
In an exclusive interview with E! News on Friday in Las Vegas,
Kim Kardashian talked about Rob Kardashian and Blac
Chyna's baby and how she talked to her 3 year old daughter,
North West about her unborn cousin. She said:
"They have talked to me about names but I would
never tell because that's really personal to them. If
they want to share that, they could," Kim said.
"But we're just there to support them. We're so
excited that we're getting a new cousin." "I was
FaceTiming with Chyna the other day and explaining to
North that there was a baby in her belly and then
sharing the sonogram pictures with North and
explaining to her that this is her little cousin and it's
so exciting we have a new cousin coming".
She added:
"I think they're just starting to get into it, but we
share a ton of different baby stuff." "I think once it
starts happening for them we'll have way more tips,
once the baby's here. I'm excited to see my brother in
this role as a dad. I think he'll be an amazing dad."
The Nigerian Army announced that some of its troops that
went missing after an ambush by Boko Haram, have been
found.
About 19 soldiers and officers were missing in action after
they were ambushed by Boko Haram militant on their way
back from a clearance operation at Guro Gongon village on
Wednesday, July 20th.
Army spokesman, Colonel Sani Usman, in a statement on
Saturday said concerted efforts were initiated to search for
and rescue the soldiers. The measures include the use of air
assets, Special Forces and patrols.
"We wish to inform you that the search party has this
morning found 5 more officers and soldiers that were
declared missing in action, including the unit's
Commanding Officer. Although they are in a stable
condition, have been moved to our Medical facilities
for medical care"
Selena Gomez who just celebrated her 24th birthday on
Friday, kicked off the International leg of her Revival Tour at
Jakarta’s Indonesia Convention Exhibition arena on Saturday,
July 23, where she was seen shedding tears and wiping them
away from her eyes as she introduced one of her songs, “Kill
Em With Kindness.” After the concert, she took to her IG page
and wrote:
Manchester United manager Jose Mourinho insists his
team have been fantastic in training during their pre-
season tour of China.
The Red Devils played the first match of their tour on
Friday, with Borussia Dortmund inflicting the first defeat of
the Mourinho era with a comfortable 4-1 win.
The only highlight for United was new signing Henrikh
Mkitaryan opening his goalscoring account with the club,
as their defence was taken apart by the German side.
Speaking prior to the Dortmund defeat, Mourinho praised
his players for their approach to the tour, with their
application in training being commendable, despite some
‘easy’ excuses which could have been made.
Mourinho said, as reported by the Daily Mail: “It’s very
easy to be affected by the weather, to be affected by the
pitch which is dry and slow.
“It’s very easy to say ‘I’ve got jet lag, I didn’t sleep very
well’. We arrived, had lunch and commercial duties, but the
training in the first session was fantastic.
“So the attitude is very good. The appetite is very good.”
The former Chelsea and Real Madrid manager took over
from Louis van Gaal in May after the Dutchman won just
one trophy during his two-year stay at the club.
Mourinho will be hoping to bring the Premier League title
to Old Trafford for the first time since Sir Alex Ferguson’s
departure in 2013, as well as retain the FA Cup.
However, he will face stiff competition from the likes of
Pep Guardiola, Jurgen Klopp and Antonio Conte in what
promises to be one of the most exciting seasons in
England’s top tier.
United are scheduled to face bitter rivals Manchester City
on Monday but the game is under threat due to heavy rain
in Shanghai. If it goes ahead, the match will be the first
Manchester derby to take place on foreign soil.
Yonkers Raceway’s pair of Saturday night $45,000 co-
featured Open Handicaps were annexed by Undercover Strike
(Tyler Buter, $43.60) and Sapphire City (Brent Holland, $8).
Undercover Strike, from post position No. 5 in the weekly
featured trot, closed from third-over in the lane to pick off a
solid, first-over Shake It Cerry (Dan Dube) by a half-length in
1:54.1.
Invading Muscle Up The Goal (Brian Sears) led through early
stations of :27.2 and :56.3 before ‘Cerry’ upended him. She
owned a length lead into the lane, only to be nailed late.
Resolve (Ake Svanstedt), in his first local start since the 2014
Yonkers Trot, was third. It wasn’t the smoothest of trips for
the 3-5 choice. Assigned outside his six rivals, he floated from
the gate, but found no seat and took back to last.
Out and moving by the half, he wound up second-over behind
Shake It Cerry, who left the cones right at the same time.
Resolve wound up gapping the lass, then flattening late to be
beaten two lengths, with E R Ellie (Larry Stalbaum) and Ladys
Dude (George Brennan) rounding out the payees.
For sixth choice Undercover Strike, an eight-year-old Striking
Sahbra gelding owned by Gerard Stuchbury and trained by
Tom Milici, the win was his ninth in 14 seasonal starts. The
exacta paid $164, with the triple returning $622.
The week’s featured pace saw Sapphire City, put in play from
post No. 6, stalk Great Vintage (Dube). After subsections of
:27.1, :56.1 and 1:24.1, Great Vintage was about to wear out
his welcome.
Before he did, he towed Sapphire City to the passing lane,
which he used to whip a second-over, slight 2-1 choice
Keystone Velocity (Sears) by a nose in 1:52.2. Polak A (Andy
Miller) was a credible, first-up third off the layoff, with Dream
Out Loud N (Buter) and UF Rockin Dragon (Eric Abbatiello)
settling for the remainder.
For second choice Sapphire City, an eight-year-old
Metropolitan gelding trained by Paul Blumenfeld for co-owners
Centaur Stables and Jordan Sklut, he’s now five-for-20 this
season (50 career wins). The exacta paid $38.40, the triple
returned $153 and the superfecta paid $852.
Jose Mourinho thinks the difference between Borussia
Dortmund and Manchester United in Friday's International
Champions Cup encounter was akin to the gulf in quality in
Formula One and Formula Three .
The Portuguese was handed his first loss as United manager
as the Red Devils were thrashed 4-1 by a clinical Dortmund
side in a difficult evening in Shanghai.
Dortmund had played four matches already in pre-season and
the difference in energy and efficiency was notable as two
goals for Gonzalo Castro , a penalty from Pierre-Emerick
Aubameyang and Ousmane Dembele 's fine solo effort put
United to the sword. Henrikh Mkhitaryan 's goal against his
former club rendered a mere side note.
But Mourinho refused to put too much emphasis on the result
of the match, pointing to the fact United still have eight
players unavailable due to their Euro 2016 commitments.
Using a quirky motorsport reference to explain the difference
with Dortmund, Mourinho said: " I don't think I can analyse
them [the players] with such difference in preparation. It was
like F1 against F3.
"They are much sharper, so it is difficult to judge. The quality
and mentality and personality is there.
"[It's been] 10 days of work. People are really tired, we played
against high-quality opposition. It is unfair to make any
decision. Day by day they are starting to win my trust.
" The reality is even in this situation we have six players still in
Europe, plus [Wayne] Rooney and [Chris] Smalling who are
only training.
"That is eight not involved. Obviously some are not going to
stay in the squad and it will be different than it is at the
moment."
He added: " My thoughts are simple. I know in pre-season the
team in the advanced stage of preparation looks better. It
happens year after year.
"It was too obvious. We knew after 10 minutes that one team
started training a month ago and played four games.
"In the second half it was better. I think 3-2 was more natural
than 4-1. They showed good quality and are at an advanced
stage."
The Sultan of Sokoto, Alhaji Saad Abubakar III, is scheduled
to deliver a lecture on “Peace and Development Initiatives” at
the United States Institute for Peace in Washington DC this
week.
During the visit organised by the International Interfaith Peace
Corp between July 26 and 28, the Sultan, it was gathered, will
meet with US State Department officials like Assistant
Secretary Linda Thomas-Greenfield and meet with White
House officials of Faith-Based Initiatives and Community
Partnerships.
His Eminence will be accompanied on the trip by his Chief of
Staff, Kabir Aminu Tafida, Mall Danladi Bako (Kogunan
Sokoto) and a renowned scholar, Dr. Usman Bugaje, according
to a statement by the Spokesman for the delegation, Nasir
Danladi Bako.
Senators on the platform of Peoples Democratic Party (PDP)
on Tuesday denied reports that they were planning to
commence impeachment moves against President
Muhammadu Buhari.
The senators, in a statement jointly signed by leaders of PDP
caucus which include Senate Minority Leader, Godswill
Akpabio, Minority Whip, Philip Aduda and Deputy Minority
Whip, ‘Biodun Olujimi, described any claim of impeachment
plot against President Buhari as “false, baseless and
unfounded.”
The denial came against the background of a letter from a
former Chairman of PDP Board of Trustees (BoT), Chief Tony
Anenih, advising the Chairman, National Caretaker Committee
of the party, Senator Ahmed Makarfi, to “dissuade the PDP
Caucus in the National Assembly from participating in the
alleged ‘ill advised’ adventure of removing President
Muhammadu Buhari from office.”
But the PDP senators debunked the allegation insisting that
there was nowhere the issue of impeachment against the
president was ever discussed among PDP senators. They
urged Nigerians to ignore such rumour as it was capable of
creating disaffection in the polity.
The senators further said they were more pre-occupied with
enormous challenges confronting the economy, pointing out
that the comment of the Minister of Finance, Mrs. Kemi
Adeosun, while briefing senators last Thursday that the
economy was in “technical recession” was of more concern to
them, hence, the need to join hands with the executive to
revive the economy.
The statement reads: “For the avoidance of doubt, we wish to
state categorically that the said impeachment plot is false,
baseless and unfounded. The PDP Senate Caucus had neither
discussed nor participated in any discussion or congregation
on the issue of impeaching and/or serving notice of
impeachment on President Muhammadu Buhari, GCFR. Hence,
we advise Nigerians generally to be cautious in spinning and/
or peddling rumours capable of heating up the polity.
“By the admission of the Hon. Minister of Finance of the
Federal Republic of Nigeria when she appeared before the
Senate on Thursday, July 21, 2016 at plenary, the Nigerian
economy is technically in recession. Therefore, this is no time
for politicking. Rather we should all join hands together to
address the problems of unemployment, hunger, poverty and
insecurity currently ravaging our country.
“The downturn in the economy is of more concern to us as
PDP senators who are known patriots. Nigerians are passing
through very difficult times and our immediate concern is how
to assist in proffering solutions to the economic crises that
we are presently faced with.
“Before the Senate proceeded on a six-week recess on
Thursday, July 21, 2016 there was no such item as
impeachment of President Muhammadu Buhari, GCFR on the
agenda of the PDP Senate Caucus or that of the Senate of the
Federal Republic of Nigeria.”
The senators pledged to co-operate with their counterparts in
the All Progressives Congress (APC) to make laws that would
elevate the living standard of all Nigerians.
Anenih had, in a four-page letter to Makarfi, dated July 15,
2016, warned against the removal of Buhari. He said he was
persuaded that the time was neither right nor the reasons
compelling enough to contemplate the impeachment of the
President.
In the letter, titled: “The PDP Caucus in the National Assembly
and the threat to impeach President Muhammadu Buhari”, he
urged Makarfi to personally lead the process of consultation
with PDP members in the National Assembly, with a view to
getting them to play a patriotic, rather than partisan role, at
this time of national economic and social uncertainty.
Coming at a time the federal government admitted that the
economy was ‘technically in recession’, the 251st edition of
the Monetary Policy Committee (MPC) of the Central Bank of
Nigeria (CBN) meeting which begins tomorrow will dwell on
measures to halt the gradual slide into recession and rising
inflation.
Discussions at the MPC meeting are also expected to dwell
on the appraisal of the newly introduced flexible forex policy,
energy shortages on productivity and effect of pipeline
vandalism on revenue accruing to the treasury. More
importantly, the forecast of the International Monetary Fund
(IMF) that the Nigerian economy would contract by 1.8 per
cent this year and the subsequent admission by the Minister
of Finance, Kemi Adeosun, that the economy was ‘technically
in recession’, are issues that would preoccupy tomorrow’s
MPC meeting.
Rising inflation, economic analysts observed, has been a
source of concern to policy makers. Just last week, the
National Bureau of Statistics (NBS) announced 16.6 per cent
as the figures for the June consumer price index (CPI), which
measures inflation. This month’s CPI, an 11-year high,
represents 0.9 per cent rise from 15.58 per cent of the
previous month and the increase marked the fifth time this
year inflation has climbed.
As part of measures to halt the upward trend, analysts are
canvassing for the retention of monetary policy rate (MPR),
the benchmark interest rate, at 12 per cent.
The MPC had at its meeting in May retained the MPR at 12
per cent with the asymmetric corridor at +200basis points and
-700basis points and also left the cash reserve requirement
(CRR) and liquidity ratio (LR) unchanged at 22.50 per cent
and 30 respectively
According to analysts at FSDH Merchant Bank Ltd, “Looking
at the macroeconomic developments in the economy, we
expect that the MPC members will vote to maintain the MPR,
CRR and LR at the current levels.
“However, complementary fiscal measures are required to
restore investors’ confidence and pull the economy out of
recession.”
The analysts explained: “There are arguments to support an
increase and a hold in rates when the Monetary Policy
Committee (MPC) of the Central Bank of Nigeria (CBN) meets
on July 25-26, 2016. Meanwhile, there is no argument in
support of rates cut given the current economic situation.
“The impending recession in the Nigerian economy supports a
hold in rates at the current level while the fiscal measures to
reflate the economy are implemented.”
The FSDH analysts noted that the Nigerian economy was
moving towards a recession as “economic activities have
significantly slowed down.”
“The GDP contracted by 0.36 per cent in Q1 2016, compared
with the growth of 2.11 per cent in Q4 2015. The Nigerian
economy faces risks from shortage of foreign exchange and
weak consumer demand. We expect a higher level of
contraction in Q2 2016, when the National Bureau of Statistics
(NBS) releases the Q2 2016 GDP figure on August 25, 2016.”
They, therefore, believed that “the impending further
contraction in the GDP was the major risk the economy faces
at the moment, and a hike in the MPR will worsen the
outlook. A hold decision with complementary fiscal
expansionary measures should stimulate the economy.”
The FSDH analysts also noted that, “the pressure on the
external reserves remained unabated since the last MPC
meeting in May 2016.
According to them, “The external reserves have not received
the anticipated boost from the adoption of a flexible exchange
rate policy in June 2016. The external reserve is still strongly
dependent on oil earnings, which has been inadequate
because of the output shortfall. The 30-day moving average
external reserves declined marginally by 0.49 per cent from
US$26.48billion at the last MPC meeting to US$26.35billion
as at July 18, 2016. We expect the MPC to adopt a hold
decision.”
Similarly, analysts at Dunn Loren Merrifield Asset
Management Ltd suggested that the MPC retain the MPR at
12 per cent.
According to them, “Ahead of the meeting of the Monetary
Policy Committee (MPC) slated for the 25th and 26th of July
2016, we are of the opinion that the body is likely to maintain
the status quo.
“We are of the view that a further hike in MPR will be
insufficient in itself to spur foreign inflows given liquidity
concerns of the interbank foreign exchange market. This is in
addition to the ‘neutral’ mode adopted by most foreign
investors as the naira is anticipated to inch towards what is
being considered to be its fair value.
Whilst we believe that a gradual reduction in interest rate is
expedient for investment and economic growth, we envisage
that the committee will retain the MPR at 12.00 per cent.”
The DLM analysts noted: “Pending the release of the nation’s
gross domestic product estimates by the National Bureau of
Statistics in the coming month, weakened fundamentals
suggests that fragile growth will be sustained in the second
quarter. We forecast a further contraction to c.-1.00 per cent
in 2Q2016 – hitting new historical lows – from -0.36 per cent
in the first quarter of the year. Our forecast is primarily driven
by the various shocks transmitted from energy shortages,
significant price hikes, lower productivity, low industrial
output, scarcity of foreign exchange and depressed consumer
demand among others. This likely contraction will officially
signal an economic recession.
“Whilst a recovery is expected towards the end of the fiscal
year,” the DLM analysts said, “we highlight that this
expectation is largely hinged on the deployment of fiscal
stimulus to spur growth.”
They noted that this supports the argument for policies
directed towards a positive and stable macro environment
conducive for growth.
Noting that the headline inflation for June 2016 came in at
16.48 per cent, representing an increase of 90bps from 15.58
per cent recorded in the preceding month, they said higher
electricity rates, energy prices and imported items remain key
drivers of inflationary pressures seen during the month.
“We re-iterate that until the underlying drivers of the upward
price movements are addressed, raising rates will be
counterproductive.”
Holding the same position with those at FSDH and DLM,
analysts at Time Economics, also advocated retention of the
MPR. “We do not expect the Monetary Policy Committee of
the Central Bank of Nigeria to tighten rates when its meets
next week in response to the latest CPI data. Having left rates
unchanged in her last policy meeting in May and followed up
with the introduction of a flexible exchange rate regime on
June 23rd, we think the Committee will likely see through
short term inflationary pressures and focus more on growth.
Efforts will be directed towards combating recession and
returning the economy to a positive growth trajectory.
“Secondly, even as we expect benchmark interest rates to
remain unchanged in the face of rising inflation, we do not
think the decision hurt bank earnings very significantly since,
typically, lending rates being charged by the banks tend to be
inflation adjusted,” they said.
Likewise, the Director-General, West African Institute for
Financial and Economic Management (WAIFEM), Prof. Akpan
Ekpo, expected “the MPC to leave all rates the way they are
and allow the implementation of robust fiscal policy with
monetary policy playing an accommodating role for now.”
Particularly, Ekpo said he expected “the MPC to x-ray the
economy within the context of the present recession.”
“Inflation is now 16 per cent hence it is unlikely for the MPC
to raise the monetary policy rate. The so-called Forex market
framework would be examined to access the impact so far.
The new forex regime has increased speculation and raise the
level of uncertainty so the price stability function of the apex
bank remains a challenge. The recession is of a special time –
insufficient demand and structural. If the recession persists
then monetary policy may become ineffective. Fiscal stimulus
is necessary to cushion the adverse impact of the recession.
“It may be too short a time to alter the new Forex framework.
It may necessary to wait for a while to assess its impact,” he
explained.
For former Managing Director of Guinness Nigeria, Seni Adetu,
these are incredibly difficult times in Nigeria, economically.
Adetu said: “All the macro indices that support economic
growth are going in the wrong direction – export earnings,
foreign exchange, inflation, etc. There is such massive
deterioration of our external reserves that investor confidence
which has been waning over the last couple of years is
maintaining that worrisome trend. It is disturbing to see that
the adoption of a flexible exchange rate policy has not yielded
any appreciable benefit in curtailing the erosion of our
currency value, and worse still the gap between the “official”
rate and parallel market remains wide, in spite of the best
effort of the CBN.
The formal announcement this week by the Minister of
Finance that the economy is in recession has perhaps
heightened the tension amongst local and foreign investors
desperate to better understand the direction of our economy.
“Against this backdrop, the Monetary Policy Committee
members have their work cut out this week. I expect that the
challenges around currency rate and availability, or lack
thereof and the run-away inflationary trends will be of
immense focus. I do not necessarily expect they will vote to
change the MPR or CRR, but they should have some
interesting discussion around the liquidity ratio, I suppose.
However, whatever they do, they should be looking to provide
some assurance to the investing and consuming
communities.”
According to him, “Nigerians, especially manufacturers, are
counting on the Monetary Policy Committee to intervene by
pulling the required policy levers needed to safeguard the
Naira from further depreciation. Without the right policy
intervention, the Nigerian economy faces risks of bigger
shortage of foreign exchange and weaker consumer demand.”
However, the Executive Director, Corporate Finance, BGL
Capital Ltd, Femi Ademola, held a contrary view.
According to him, “The current situation is that of liquidity
tightening on both the side of the monetary authority and the
fiscal authority. Although, there are other reasons for the high
inflation, it is clear that liquidity surfeit is not one of them.
Rather it appears that lack of funding for domestic production
and the lack of infrastructure and support structural reforms
are the culprits.”
He further stated that: “While the fiscal authority appears
helpless in resolving the infrastructural challenges, the
monetary authority could help with easing the general
economic pressure through monetary accommodation. It
would therefore be nice to see a reduction in the MPR at the
next MPC meeting.”
TMZ announced yesterday that rapper Wale had to cancel his
performance at the One Africa Music Fest which took place at
Barclay's Center in NYC because his girlfriend, Chloe Alexis
gave birth to their daughter, named Zyla, yesterday afternoon
in New York. Wale took to his page to announce the birth
himself and wrote...
Congratulations to them.
The Uruguay international leaves to leave the
French champions for a new challenge and
although the Blues are keen they may have to
up their offer to land their man
Chelsea have made a new €50 million offer to
Paris Saint-Germain for Edinson Cavani,
according to Le10Sport .
The Uruguay international remains keen to leave
Parc des Princes, despite the departure of Zlatan
Ibrahimovic, and is seeking a new challenge.
Antonio Conte is keen to land Cavani and made
the offer, following Atletico's Madrid's approach
for Diego Costa. However, PSG want at least
€80m for the 29-year-old which is expected to
put off the Blues.
Jose Mourinho said he would not be
rushing into judgement on his players as a
result of Manchester United’s 4-1 drubbing
by Borussia Dortmund in Shanghai on
Friday.
“Unfair to make any decision. Day by day
they are starting to win my trust,”
Mourinho said of his players, who only
returned to pre-season training 10 days
ago.
Dortmund have been back for a month
already, and it showed with superior levels
of fitness in the International Champions
Cup match played in an energy-sapping
temperature of 35 Celsius despite an 8.05
pm kick-off.
“I know in pre-season the team in the
advance stage of preparation looks better,”
he said.
“It happens year after year. It was too
obvious. We knew after 10 minutes that one
team started training a month ago and
played four games.”
Gonzalo Castro scored twice for the German
side, Pierre-Emerick Aubameyang bagged a
penalty and Ousmane Dembele showed why
the Frenchman is regarded as one of the
best young talents in Europe with a superb
finish.
“The reality is even in this situation we
have six players still in Europe, plus
(Wayne) Rooney and (Chris) Smalling who
are only training. That is eight not involved.
“We had no (Zlatan) Ibrahimovic, (Anthony)
Martial, (Marouane) Fellaini, (Morgan)
Schneiderlin – lots of them aren’t here yet.”
It was Mourinho’s first defeat as United
manager in just his second match, after a
2-0 win at Wigan last Saturday.
The Portuguese former Chelsea and Real
Madrid boss reiterated his pre-match
comments that he needed one more signing
to get the balance of his side right.
“Our fundamental market is 75 percent
done and when we sign one midfield player,
that will be done,” he said. “The
fundamental market is four players and we
just need that crucial one.”
Mourinho’s opposite number Thomas
Tuchel has been busy in the transfer market
in the past two days with the return to the
club of World Cup-winning goalscorer Mario
Goetze and Germany’s former Chelsea star
Andre Schurrle.
“I am very happy that the transfer (of
Goetze) worked out. By making this
decision and committing, Mario has chosen
to take the difficult path,” said Tuchel,
referring to the 24-year-old striker angering
Dortmund’s fans by leaving for Bayern
Munich two years ago.
The German also praised Schurrle as an
unselfish player who would help the
balance of his side.
“We urgently needed a player up front. He
has special qualities. He puts his ego
aside,” said Tuchel.
“We define our style as attacking when we
have the ball, and attacking the ball when
we are defending. He can do that.”
United face arch-rivals Manchester City in
Beijing on Monday. Dortmund will play Pep
Guardiola’s City in Shenzhen on Thursday
to round-out the three-team pre-season
tournament in China.
The singer shared these photos of her son Jamil with this
message:
"You are my reason for everything ... Dada and Mama love
you so much #JamJamIsOne"
More below...
Ghana it is!!!.
His Imperial Majesty, Ooni of Ife, King Dr Adeyeye Ogunwusi
and Olori Wuraola-Zynab Ogunwusi arrived Ghana on
Thursday for their official visit to President
John Mahama, to deliver remarks to the Ghanaian Parliament
alongside Ghanaian evangelist Dr Kingsley Fletcher, the
Suapolor of the SE Kingdom.
Fletcher first visited The Ooni of Ife during the Ooni’s Historic
US tour in June.
In the Ooni’s work for unity amongst African nations and
quest to return Africa to global prominence, His Imperial
Majesty says, “Africa is the center of the world, we need unity,
we need to extend our hands to our brothers and sisters for
us to move forward and make headway as a continent.”
There are over 4 million Yoruba people living in Ghana, most
of whom are from Nigeria. According to historians, the first
group of Yorubas arrived in the Gold Coast around 1813 and
initially settled in such places as Accra, Kumasi and Sekondi
before moving to the northern part of the Gold Coast,
especially Tamale, Wa, Lawra and Nandom.
Her Majesty, Olori Wuraola, will also be meeting with Her
Highness, Lordina Mahama, the first lady of Ghana to discuss
partnership and trade efforts through her Queen of Ile-Ife
Foundation whose mission is to better the lives of women in
Nigeria and across Africa.
ABUJA - SPEAKER of the House of Representatives, Yakubu
Dogara has described the allegation from the former Chairman
of Appropriations Committee, Abdulmumuni Jibrin against him
in the budget controversy as an after thought.
He also debunked the
claims by Jibrin that he
was removed because
he did not support the
immunity proposal in
the House for presiding
officers of the National
Assembly.
Dogara in a statement
through the House
Committee Chairman
on Media and Public
Affairs, Abdulrazak
Namdas wondered why
the former
Appropriations
Committee Chairman
had waited for too long
to make the allegation.
The statement read in part: "Our attention has been down to
media statements made by the former Chairman of House
Appropriation Committee, Hon Abdulmumuni Jibrin wherein he
made wild allegations against the House of Representatives
and it's leaders.
"We wish to say that it is the prerogative of the Selection
Committee of the House to appoint and remove Committee
Chairmen.That power has been so exercised in the case of
Hon. Abdulmumin Jibrin as chairman of Appropriation
Committee.
"Most of the allegations on the 2016 budget process and his
opposition to immunity of Presiding officers are non issues
and mere after though manufactured simply because the
House relieved him of his position.
"If he had all these 'facts' before ,why didn't he make them
public? Why is he doing that now?
"Hon. Abdulmumin Jibrin, like any other member of the House
knows that there are conventions and precedents as it relates
to budgets and projects for principal officers of the National
Assembly . Why is he making it an issue now? In any case, he
is entitled to his opinion as a Nigerian and as a legislator
while acting within the laws ol Nigeria and rules of the House.
"We must make it abundantly clear that he was not removed
because of his support or otherwise on immunity bill. Afterall
he is not the only one who opposed the bill.
"The bill is still pending before committee on review of
constitution and it has to be voted upon by each and every
member of the House, get Senate concurrence, endorsed by
two-third of the 36 State Houses of Assembly and be
assented to by the President. It is a cheap blackmail on the
part of Hon. Jibrin to even insinuate that he was removed
because he opposed immunity bill.
"He should not distract the House from giving legislative
support on important issues facing the government concerning
the revival of the economy, insecurity in the country, pursuit of
anti-corruption measures, poverty alleviation, infrastructural
development etc.
"The Nigerian people are simply not ready to waste their time
on personal issues and personal egos of our leaders. We
should face the urgent tasks before us for which we were
elected."
A service of songs was held for murdered
Redeemed Christian Church of God pastor,
Eunice Elisha in Kubwa, Abuja today.
The remains of the 42-year-old mother of
seven, who was murdered while preaching
the gospel of Christ at the Gbazango-West
area of Kubwa, would be buried on
Saturday July 23, which is coincidentally
her birthday.
Here are some photos from the service of
songs, which preceded a wake at her
residence:
