HIGHLIGHTS
- WATCH MATCH HIGHLIGHTS: Nigeria 6-0 Australia, Brazil 1-0 New Zealand - FIFA U17 World Cup Chile 2015
- Appeal court dismisses Saraki’s suit against CCT trial
- BVN: Banks to Deactivate Unregistered Accounts as Deadline Expires Friday (Yesterday)
- TSA: First Bank pays N1.877bn fine to CBN
- Devaluation of Naira not an option, says Osinbajo
- S.Africa launches insider trading probe over MTN’s Nigeria fine
- We’re not considering naira devaluation, CBN gov insists
- Five customs’ deputy comptrollers resign
- Only 10m Nigerians so far captured in National Identity project
- Court stops FG from winding up PHCN
- Kanu: Brazil Can’t Stop Golden Eaglets
- Iheanacho Makes League Cup Team Of The Round
- Seven-Star Osimhen Dedicates Goal To Tobechukwu
WATCH MATCH HIGHLIGHTS: Nigeria 6-0 Australia, Brazil 1-0 New Zealand - FIFA U17 World Cup Chile 2015
Watch Highlights: Nigeria v. Australia - FIFA U17 World Cup Chile 2015
Highlights: Brazil v. New Zealand - FIFA U17 World Cup Chile 2015
Appeal court dismisses Saraki’s suit against CCT trial
The Court of Appeal in Abuja on Friday dismissed the appeal by the Senate President, Bukola Saraki, challenging his trial on 13 counts of false assets declaration before the Code of Conduct Tribunal.
By a two-to-one split decision the three-man panel of the appeal court, held that the appeal lacked merit.
Justice Moore Adumein who led the panel and Justice Mohammed Mustapha dismissed the appeal, while Justice Joseph Ekanem in his dissenting judgement upheld the appeal and discharged the Senate President of the trial before the CCT.
The majority judgment dismissed all the six grounds of appeal by Saraki.
Read the rest: PUNCH
BVN: Banks to Deactivate Unregistered Accounts as Deadline Expires Friday (Yesterday)
The Central Bank of Nigeria (CBN), in collaboration with the Bankers’ Committee had introduced the BVN on February 14, 2014. The initiative was aimed at ensuring unique identity for all bank customers and other users of financial services in the country by the use of the customers’ biometrics as means of identification.
At the expiration of the initial estimated 18 months after the launch, a good number of bank customers were reluctant in registering, which led to commotion and stampede in banking halls across the country towards the end of the previous deadline. That confusion necessitated the call for the extension of the registration dateline by four months to October 31.
Data from the Nigeria Interbank Settlement System Plc (NIBSS), showed that 20,833,635 bank customers had enrolled as at October 25, 2015.
"Given the tradition of multiple accounts holding by an average Nigerian, which could be conservatively estimated at about two or three per an account holder, therefore, it could be safely assumed that over 40 million accounts might have been enrolled to BVN," the central bank explained on Thursday
TSA: First Bank pays N1.877bn fine to CBN
FBN Holdings Plc, the parent company of First Bank of Nigeria Limited, on Thursday confirmed to the Securities and Exchange Commission that it had paid the sum of N1.877bn as fine to the Central Bank of Nigeria for violating the Federal Government’s Treasury Single Account policy.
FBN Holdings, in a letter addressed to the Director-General, SEC, Mr. Mounir Gwarzo, said the confirmation was in response to media reports on the fine.
The CBN had a few days ago reportedly fined First Bank and United Bank for Africa Plc a total sum of N4.819bn for allegedly concealing funds belonging to the Nigerian National Petroleum Corporation.
The government had directed all Deposit Money Banks to remit the government revenue to the CBN Treasury Single Account.
While the CBN imposed a penalty of N1,877,409,905.12 on First Bank, UBA was reportedly fined N2,942,189,651.45 for its failure to comply with the government’s policy.
FBN Holdings, in the letter to SEC confirming payment of the fine to the CBN, however, said it was still in discussion with the central bank management over the decision.
ABUJA – Vice president, Yemi Osinbajo yesterday said that further devaluation of Naira was not a solution to the current economic down turn in the country.
He however announces federal government plan to set up $25 b Infrastructural Fund which would be sourced from local and international sources including Nigeria’s Sovereign Wealth Fund.
Osinbajo spoke when he received the Ambassadors of Italy Mr. Fulvio Rustico and the Canadian High Commissioner in Nigeria Mr. Perry John Calderwood in his office at the presidential villa, Abuja.
He also recalled that his principal, president Muhammadu Buhari had at different fora said that a further devaluation of the Nigerian currency was not healthy for the Nigerian economy.
He said “I don’t agree on devaluation and it is not that I am doctrinaire about it. In the first place, it is not a solution-we are not exporting significantly. And the way things are, devaluation will not help the local economy.
“What we need to do is to start spending more on the economy and then things will ease up a bit.”
The Vice President disclosed that already other sovereign wealth funds have indicated interest in the fund which would be used to address the nation’s decaying road, rail and power infrastructures.
He said “this is our approach to speeding up the country’s infrastructural development.”
S.Africa launches insider trading probe over MTN’s Nigeria fine
The Nigerian Communications Commission (NCC) fined Africa’s largest telecoms firm for missing a deadline to deactivate 5.1 million unregistered SIM cards.
News of the fine broke Monday morning in Nigeria, sparking a sell-off of MTN shares before the company formally notified shareholders later in the day.
“The market regulation team is looking into trades that took place before the announcement in order to determine if there is any evidence of possible insider trading,” Peter Redman, Johannesburg Stock Exchange (JSE) market regulation advisor, said in a statement.
South African law dictates that companies immediately warn shareholders about price-sensitive information.
“The investigation will follow due process to establish whether there have been any breaches of the listings requirements and can be lengthy process,” said Andre Visser, JSE regulation manager.
We’re not considering naira devaluation, CBN gov insists
The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, on Friday insisted that the apex bank is not considering further devaluation of the nation’s currency.
He said the bank was currently preoccupied with how to improve and deepen the foreign exchange market by improving supply of foreign exchange into the market.
Emefiele spoke with State House correspondents shortly after a meeting presided over by Vice President Yemi Osinbajo which he attended at the Presidential Villa, Abuja.
It will be recalled that a former CBN Governor, Lamido Sanusi, had penultimate Friday called on the apex bank to devalue the naira and loosen monetary policy to stimulate the economy hit by a plunge in oil prices.
But Emefiele said he had no plan to devalue the naira beyond what was done in February when the currency was depreciated from N155 to N197.
He said, “There has been a lot of talk on whether or not we want to depreciate our currency again. The truth is that we had adjusted the currency by depreciating it from N155 to N197 in February this year.
“There is no intention to depreciate or adjust the currency any longer.
“The President has been very clear on this. The Vice President has been very clear on this and let me further reiterate our position at the Central Bank of Nigeria that we are not considering any further depreciation of the currency.
Five customs’ deputy comptrollers resign
Five Deputy Comptroller General of Customs on Thursday resigned their appointment with the Nigeria Customs Service.
The DCGs stated this in a joint letter written to the Chairman of the Nigeria Customs Service Board through the Comptroller-General.
A copy of the letter, which was sighted by our correspondent, showed it was signed by all the DCGs making up the management team of the NCS.
It read, “We, the under listed officers currently on the rank of DCG, met today and unanimously decided to voluntarily retire from the service of the NCS having risen to the rank of DCG.”
They thanked President Muhammadu Buhari for the opportunity given to them to serve Nigeria.
Only 10m Nigerians so far captured in National Identity project
The Director General and Chief Executive of National Identity Management Commission (NIMC), Mr. Chris Onyemenam has said that only 10 million Nigerians had been captured in the ongoing National Identity Number enrollment exercise across the country.
Onyemenam decried what he called ‘the problems of inefficient management system in medical emergencies in the country and attributed it to lack of unique identification infrastructure in the system.
He emphasized the importance of efficient identity management infrastructure, which he said will lead to patient identity management system and urged Nigerians to key into the enrollment exercise.
Court stops FG from winding up PHCN
Specifically, the NIC ordered the respondents, jointly or severally, whether by themselves, their agents, proxies or privies, from winding up PHCN or in any manner whatsoever, from liquidating or dissipating its assets pending the determination of the motion on notice already filed in court.
The court, presided over by Justice M.N. Esowe, on October 27, gave the restraining order while ruling on Ex-parte Application by the National Union of Electricity Employees, NUEE, against the respondents. The defendants are Bureau of Public Enterprises, BPE, Nigeria Electricity Liability Management Company, Chief Joe-Kyari Gadzama, SAN, Liquidator for Power Holding Company of Nigeria, Federal Ministry of Power, Federal Ministry of Labour & Productivity, Ikeja Electricity Distribution Company, Eko Electricity Distribution Company, Enugu Electricity Distribution Company, and Port-Harcourt Electricity Distribution Company.
Others are Benin Electricity Distribution Company, Kano Electricity Distribution Company, Abuja Electricity Distribution Company, Jos Electricity Distribution Company, Yola Electricity Distribution Company, Ibadan Electricity Distribution Company, Kaduna Electricity Distribution Company, Egbin Electricity Power Plc, Afam Electricity Power Plc, Sapele Electricity Power Plc, Kainji Electricity Power Plant, Ughelli Power Plant, Shiroro Hydro Power Station and Transmission Company of Nig. Plc, TCN.
The court also ordered parties to maintain the peace until the motion on notice before it was heard and determined, noting that “hearing notices are hereby ordered to be issued and served on the respondents and the matter is now adjourned to November 11, 2015 for hearing of the motion on notice before the court.”
Kanu: Brazil Can’t Stop Golden Eaglets
Former Super Eagles captain Nwankwo Kanu believes that the Golden Eaglets has what it takes to beat Brazil in the quarter-final stage of the 2015 FIFA U-17 World Cup holding in Chile, saying he has no cause to doubt the ability of Coach Emmanuel Ameneke in leading Nigeria to win the trophy,
completesportsnigeria.con can report
Manchester City youngster Kelechi Iheanacho made the Capital One Cup (League Cup) Team of the Round after his impressive display against Crystal Palace in the fifth round of the competition.
Read the rest: COMPLETE SPORTS
Seven-Star Osimhen Dedicates Goal To Tobechukwu
Wednesday’s match at the Estadio Sausalito saw Osimhen scored a hat trick to take his tally so far in the competition to seven goals after four matches. He had previously scored a goal on the opening day in the 2-0 win over the USA; a brace in the 5-1 crushing of host Chile and a goal in the 2-1 defeat by Croatia.
" Tobechukwu is one of our key players but he has not played here; and immediately I scored the opening goal today (against Australia), he was the only one on my mind," said Osimhen who has notched up a total of 48 goals for Golden Eaglets after 77 matches in all competitions."He (Tobechukwu) is a good guy and has been encouraging all of us to work harder."
Going into Chile 2015, Tobechukwu was going to be one of the mainstays in Golden Eaglets' back four until he suffered an injury few days to the kick off of the tournament but has gradually being working his way back to fitness.
Read the rest: THIS DAY LIVE
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