ONE WORD

Shettima weeps as North East leaders meet Buhari The Governor of Borno State, Kashim Shettima, on Monday reportedly broke down in tears when a delegation from the state met with President Muhammadu Buhari in Abuja. The governor was moved to tears because of what he described as the recent setback in the fight against insurgency, Channels Tv reports. Shettima, however, noted that the leaders had not lost hope in the President’s ability to win the war and restore peace in the state. On why the Northern leaders visited the president, Shettima amid tears told Buhari that the delegation came to present a set of observations and specific requests from a security meeting held a week ago in the state, which will require urgent presidential intervention. Others present included the National security Adviser, Chief of Staff, the DG of DSS and NIA, Chief of Defense Staff and members of the National Assembly. The meeting is still ongoing at State House in Abuja. ...

Oil Prices Rise On US-China Trade Hopes, Supply Cuts Oil prices rose by more than 1.5 percent on Monday on hopes that talks in Beijing can resolve a trade war between the United States and China, while supply cuts by major producers also supported crude. Brent crude futures LCOc1 were at $58.04 per barrel at 0751 GMT, up 98 cents, or 1.7 percent, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were at $48.85 per barrel, up 89 cents, or 1.9 percent. Financial markets were riding a relief rally on Monday on expectations that face-to-face trade negotiations between delegates from Washington and Beijing, starting on Monday, would lead to an easing in tensions between the two biggest economies in the world. The United States and Beijing have been locked in an escalating trade spat since early 2018, raising import tariffs on each other’s goods. The dispute has weighed on economic growth. Goldman Sachs said in a note on Monday that it had...

Kevin Spacey Due In Court Over Sex Assault Claims Kevin Spacey Actor Kevin Spacey was due in court Monday to appear before a judge on the tony destination island of Nantucket, Massachusetts over accusations he sexually assaulted a teenager in 2016. The “House of Cards” star had asked that his lawyers represent him at the hearing, but Judge Thomas Barrett declined, forcing Spacey to appear before him at 11:00 am (1600 GMT). The formal charges come more than 13 months after the complaint was filed, and is part of the latest chapter in the #MeToo movement after the sentencing of actor Bill Cosby and the indictment against Hollywood producer Harvey Weinstein. The case marks the first time Spacey has faced charges, although there are dozens of claims against him. The actor faces five years in prison if charged for repeatedly reaching down into the pants of a man identified as William Little, who was 18 at the time of the alleged assault in July 2016 at a Nantucket restaura...

Leaked audio: Amaechi’s ex-aide admits voice belongs to minister, explains what happened Ibim Semenitari, a former aide to the Minister of Transportation, Rotimi Amaechi, has reacted to the audio recording in which the minister was heard expressing shocking pessimistic views about Nigeria and the administration of President Muhammadu Buhari. In a press statement yesterday, she accepted the voice in the tape is Amaechi’s but insisted that the minister’s comment had been twisted out of context. Amaechi, a key political ally of Buhari and is the Director-General of the Buhari/Osinbajo Campaign Organisation, was allegedly caught on tape portraying President Buhari as a dismal failure who has been unable to meet the expectations of various segments of the society. However, the statement by Mrs Semenitari, a former Rivers State commissioner for Information under Amaechi, reads: “Let me first make it clear that I am not speaking for the Honourable Minister nor for his media t...

Obasanjo, Atiku, Saraki Perfect Plan To Unseat President By Shola Oyeyipo and Adedayo Akinwale in Abuja As the presidential election inches closer, former President Olusegun Obasanjo; former Vice President and Peoples Democratic Party (PDP) presidential candidate, Alhaji Atiku Abubakar, and Senate President, Dr. Bukola Saraki, yesterday held a crucial meeting in Lagos to perfect strategies for the election. The meeting came on the heels of the call by the PDP Presidential Campaign Organisation on the General Abdulsalami Abubakar (rtd)-led National Peace Committee, the United Nations and all world leaders to call President Muhammadu Buhari to order, insisting that there is no way free and fair elections could be guaranteed when his niece, Mrs. Amina Zakari, is heading the collation of presidential election results. The over three-hour meeting, which held behind closed-door at the Lekki Phase I Estate residence of renowned South-west leader and Afenifere chieftain, Chief Ayo A...

Gabon soldiers announce national council, shots heard in capital Gabon soldiers on state radio early Monday called on the people to “rise up” and announced a “national restoration council” would be formed, as an ailing President Ali Bongo is out of the country. Shots were heard in the around state television headquarters in the centre of the capital at about the same time as the message was read at 6:30 am (0530 GMT). Military vehicles blocked access to the boulevard where the offices are located, an AFP correspondent said. The message was read on state radio by a person who identified himself as the deputy commander of the Republican Guard and head of a group called the Patriotic Youth Movement of the Gabonese Defence and Security Forces. Three soldiers wearing the green beret of the Republican Guard were visible on a video of the speech circulating on social media and authenticated by AFP. The movement “calls on all young people from forces for the defence an...

Boko Haram getting beyond us? update by Vanguard  IS the fight against Boko Haram now beyond us? The time has come for us to stop pretending. This year, 2019, marks 10 years since Boko Haram (Jama’atu Ahlis Sunna Lidda’awati wal jihad, or “people committed to the propagation of the Prophet’s teachings and jihad”) was incepted in Borno State under the then Governor Modu Ali Sheriff. When the governor and the group fell out politically, its leader, Ustaz Mohammed Yusuf, was brutally murdered while in government custody. From that moment, Boko Haram, with Sheikh Abubakar Shekau, started an armed insurgency which has claimed over 20,000 lives, upturned the entire North-East and made governance almost impossible in Borno State but for the cast-iron resolve of Governor Kashim Shettima. 2019 Election Campaigns: Issues are missing! It helped in getting the People’s Democratic Party, PDP, regime of former President Goodluck Jonathan voted out of power. The fury of Bok...

Why we stormed Daily Trust offices – Nigerian Army The Nigerian Army has confirmed that its personally along with men of Nigeria Police Force and other Security Agencies were at Daily Trust offices in Lagos and Maiduguri. The reaction followed the order by the federal government that security agents should vacate the locations. In a statement Monday morning, Brigadier General Sani Usman, Director of Army Public Relations, said the operatives were at the offices to invite the staff of the company over its lead story on Sunday Trust publication, which “divulged classified military information, thus undermining national security”. According to the statement, Daily Trust disclosed details of planned military operations against the Boko Haram terrorists. It said: “The disclosure of classified security information amounts to a breach of national security and run contrary to Sections 1 and 2 of the Official Secrets Act. “It afforded the Boko Haram terrorist...

Haunting echoes of a sage (2) By Henry Boyo A SUMMARY of Professor Sam Aluko’s interview, in February 2004, with TAYO ODUNLAMI of The News magazine was published, in this column last week. In the first part of that interview, the distinguished Professor of Economics, responded to questions on the potential impact of Naira devaluation, fuel pricing, privatization and foreign investment. Naira CBN injects $210m into foreign exchange market In Part (2) of the same interview, published today, Samuel Aluko, suggests solutions to our economic challenges and bares his mind on the value of International Trade Organisations, Corruption, and the distinctive role of Banks in driving the economy; furthermore, Aluko, also extols the superior Management of the Nigerian economy, during the despotic regime of Sani Abacha, between 1993-8; please read on. “So what is the solution (to our Economic adversity)?” “Government has been pursuing a negative action. Government must ...

Nigeria lost Fasehun before he died By Owei Lakemfa THEY were not advised visits. But the Pro-Democracy Movement had become badly depleted. The Abacha regime had forced quiet a number of activists underground. Some, like our leader, Dr. Beko Ransome-Kuti and Shehu Sani had been given life jail sentences, Ken Saro-Wiwa had been executed with eight other Minority campaigners, some activists had fled into exile and a number were in detention without trial. One of them was Dr. Frederick Isiotan Folabora Fasehun on whose shoulders the leadership of the Campaign for Democracy, CD, had fallen after Beko had been seized over a phantom 1995 coup for allegedly “being an accessory after the fact of treason.” Frederick Fasehun There were bombings across the country especially of buses packed with soldiers on their way to work. They were by the Abacha regime, which used them to spread terror as well as blame them on  perceived enemies of the regime. On Decemb...

Nigeria accounts for 40% of our businesses in Africa – CEO, Continental Re Dr. Femi Oyetunji, Group Managing Director/CEO, Continental Reinsurance, CRe Plc, in this interview with Financial Vanguard, spoke on issues affecting the insurance and reinsurance business in Africa. Excerpts: By Peter Egwuatu THE insurance companies in Nigeria and Africa have not been performing well enough when compared to their counterparts in the global space, what is the reason? Capitalization has been the major problem in Africa that affects insurance and reinsurance companies and has contributed to why they cannot get big ticket transactions. The insurance companies need continuous recapitalization to meet demands from major sectors that are highly capitalized. Femi Oyetunji Insurance sector in Nigeria is faced with the same issues like most other countries. We need well and highly capitalised companies. Personally, this is the same sentiment I expressed in 2005 and 2006...

Genevieve Nnaji Made Me Cry With Lionheart – Stella Damasus Stella Damasus who shared her review of ‘LionHeart’ on Instagram, stated that Genevieve Nnaji made her cry with the movie in which she debuted her directorial side. According to Stella Damasus, Genevieve Nnaji made her cry after she dedicated the movie to late Amaka Igwe, and also had Nollywood actors who have not been given a lot of opportunities in recent times as part of her cast. She wrote; ‘Just finished watching #lionheartthemovie by @genevievennaji on @netflix my goodness this blew my mind. From the story, to the casting, to the cinematography, costumes and everything in it, this movie is so good. I don’t usually do this but please guys go and watch this movie. Let me thank Genevieve for casting our Nollywood actors who have not been given a lot of opportunities in recent times. Best of all she moved me to tears by dedicating the movie to AMAKA IGWE. I loved every minute of it and I know you all w...

Financial inclusion, savings promos yield 15m new accounts for banks Savings account grows by 16% to 87m Experts project further growth By Elizabeth Adegbesan The new bank accounts comprise 12.2 million savings accounts and 2.6 million current accounts. Meanwhile, experts have projected further growth citing the Shared Agent Network Expansion Facilities (SANEF) initiative of the Bankers Committee and the improved economic growth as the nation sustain its recovery from economic recession. Financial Vanguard analysis of latest Industry Customer Bank Account data released by the Nigeria Inter-Bank Settlement System (NIBSS) showed that the number of bank accounts rose to 115.2 million in November, 2018 from 100.2 million in December 2017, representing 15 million or 15 percent increase. However, on a month-on-month (MoM) basis, number of bank accounts opened increased by 0.5 percent or 600,000 in November to 115.2 million in November from 114.6 million bank a...

MfBs operators differ on 2018 industry developments By Providence Emmanuel FOR Microfinance Banks, MfBs, operating in Nigeria, year 2018 would not be forgotten too quickly as it opened with the suspension of their customers’ accounts that are without Bank Verification Number, BVN. BVN The imperative, urgency of financial inclusion — NIBBS The apex regulator, Central Bank of Nigeria, CBN, thereafter, set a state-by-state financial inclusion target for the commercial banks and MfBs to ensure that every Nigerian adult has access to financial services such as payments, savings, credit, insurance and pension in a bid    to achieve 80 percent financial inclusion by 2020. As at January 22, 2018, MfBs operating in the country stood at 1008, rising to 1028 by the end of June 2018. True to speculations, the CBN in October reduced the subsector from 1028 to 882 by revoking the operational licences of 154 microfinance banks. Giving reasons for the revoc...

NFF: Presidency reacts to Buhari’s “order” of arrest, prosecution of Amaju Pinnick The presidency on Sunday said a press release in circulation to the effect that President Muhammadu Buhari has ordered the arrest and prosecution of Amaju Pinnick, the NFF Chairman, is fake news. Garba Shehu, Senior Special Assistant to the President, (Media & Publicity), in a statement, said anyone familiar with the president’s commitment to the due processes of the law will not make such assumptions of the President. He said the position of the President that allegations of criminal nature should be addressed only by investigation and law enforcement agencies, within the framework of the law has not changed. “It is not in the nature of President Buhari to say go and arrest that man or woman as formed the practice in the past,” the statement added. “Rather, he allows all allegations of this nature to be addressed using the mechanism of the rule of law even as law enforc...

New minimum wage: NLC blows hot ahead of Monday meeting with FG The Gombe Council of the Nigeria Labour Congress (NLC) has advised against the politicisation of the proposed N30, 000 national minimum wage. Mr Haruna Kamara, the state NLC Chairman, said this in an interview with the News Agency of Nigeria (NAN). The Organised labour and the federal government will meet tomorrow. Speaking, Kamara said that the struggle for minimum wage was a struggle for the emancipation of workers and not a tool for any political stakeholder. “People should not join the issue of the struggle for national minimum wage, the welfare of Nigeria workers and pensioners with politics. “This has been the norm in the past as political stakeholders often accuse labour of supporting the opposition. In 2013/2014 when we had a similar situation, many accused labour of being political with minimum wage. “Then the struggle for the welfare of workers was perceived by many as a window to bring in th...