The Nation Newspaper

Tag: releases

  • Army releases 13 suspects after mosques raid

    Thirteen of the 15 suspects arrested during a military raid on mosques on Monday in Aba, Abia State have been released.

    A source said the Islamic leaders were released on the same day after hours of interrogation at the Asa Army Base.

    The source said Abdulraham Sani and Abdulmajid Abubakar, the director and head teacher of New Horizon Academy located on the premises of the Aba Central Mosque were still being detained by the soldiers.

    The Chief Imam of Aba Central Mosque, Alhaji Idris Bashir, told reporters that the soldiers, after taking them to the 144 Battalion, Asa said they carried out the raid because of the suspicion that Improvised Explosive Devices (IEDs) and weapons were kept in mosques.

    He said: “The soldiers, after asking us to join them in their vehicles, took us to the Ngwa Road Forward Operation Base (FOB) before moving us to the 144 Battalion at Asa where they interrogated us. They said they were looking for bombs and weapons which they alleged we were sharing.

    “We don’t keep or manufacture bombs and do not support or encourage any person to make or keep bombs. Mosque is a holy place where we pray.”We have been living in Aba peacefully with the indigenes and will not be part of any plan to cause trouble.”

    Bashir urged the soldiers to release Sani and Abubakar.

    The Nation learnt that about 4:15pm on Wednesday, 10 soldiers in two Hilux vans came to the Aba Central Mosque and photographed the place. They later invited the chief imam for questioning.

  • ITTF releases prospectus for Lagos World Tour

    ITTF releases prospectus for Lagos World Tour

    To acquaint countries about the staging of the 2014 Lagos World Tour, the International Table Tennis Federation (ITTF) on Thursday released the official prospectus for the tournament holding in June.

    The world table tennis ruling body has also uploaded the prospectus on its website for the 214 national associations.

    According to the ITTF Director of Competitions, Karl Jindrak, the Lagos World Tour tagged Nigeria Open is one of the Challenge Series listed by ITTF on its 2014 calendar.

    Players hoping to be part of the championship are expected to register through their national associations, while the preliminary entries commence on May 10 with the final entries for singles on May 24.

    There will be a charge of $150 cancellation fee for each player cancelled after the entry deadline. This period starts on the day of closing the final entries, one month before the event. These cancellation amounts will be added to the association’s invoice to be paid together with the hospitality costs to the organisers either by bank transfer or by cash on site,” Jindrak said.

    He added: “Associations with pending payments of cancellation fee will not be allowed to enter any World Tour events as long as the payment is not fulfilled.”

    Four events – men and women singles as well as U-21 men and women singles will be competed at the four-day championship holding at the Teslim Balogun Stadium in Lagos. The total prize money for the tournament is $39,700 with men singles winner carting home $5,000.

    The Nigeria Table Tennis Federation (NTTF) organises the tournament with the support from the Lagos State government.

    Egypt’s Omar Assar who beat Nigeria’s Segun Toriola to emerge champion at the maiden edition of the tournament tagged Lagos Classics has promised to return to Lagos to defend his title, while Cecilia Otu-Akpan who defied all odds to lift the title in the women’s event will be part of the Nigerian team to the World Championship in Tokyo, Japan.

     

  • CBN releases guidelines for N200b MSME Fund

    The Central Bank of Nigeria (CBN) has unveiled guidelines for the management of the N220 billion Micro, Small and Medium Enterprises (MSME) Development Fund it launched earlier in the year.

    In a circular yesterday, the CBN said the fund will be managed by a Special Purpose Vehicle (SPV). It however added that the apex bank will commence the management of the fund pending the establishment and appointment of the SPV or Managing Agent.

    It said a large number of un-served and under-served clients exist in the Nigerian MSME sub-sector. To address the funding requirements of this critical segment of the economy, 80:20 ratio has been designed for on-lending to micro enterprises and Small and Medium Enterprises (SMEs) respectively.

    The CBN said that women’s access to financial services should increase by 15 per cent annually in order to eliminate gender disparity. To achieve this, N132 billion of the fund has been earmarked for providing financial services to women.

    The regulator said in operating the fund, special consideration will be given to institutions that will provide financial services to graduates of the CBN’s Entrepreneurship Development Centers (EDCs).

    Also, 10 per cent of the fund (N11 billion) will be earmarked for social and developmental objectives as grants; Interest Drawback Programme will get N6.60 billion while Managing Agent’s (MA) Operational Expenses will get N4.4 billion. However, MA is expected to generate income from its operational activities to fund its future expenses on a sustainable basis.

    The CBN explained that N6.6 billion earmarked for Interest Drawback will be used to settle the rebates to financial institution’s customers under the fund who repay their loans as and when due while the N11.0 billion for grants will fund programmes that are aimed at developing the MSME sub-sector.

    However, 90 per cent of the Fund, amounting to N198 billion, will be utilised for the provision of direct on-lending facilities to participating financial institutions.

    It said participating financial institutions could only finance agricultural value chain activities; trade and general commerce; cottage industries; artisans among others.

    The banking watchdog said to ensure that productive sectors of the economy continue to attract more financing necessary for employment creation and diversification of the country’s economic base, a maximum of 10 per cent of the commercial component of the fund will be channeled to trading and commerce.

  • INEC releases 2015 poll dates

    INEC releases 2015 poll dates

    •Fixes February 14, 2015 for Presidential election             •Governorship election scheduled for February 28             •Ekiti: June 21, 2014               •Osun: August 9, 2014

    The Independent National Electoral Commission (INEC) last night released the time table for the 2015 general elections.

    First on the cards is the Presidential election which is scheduled for Saturday, February 14, 2015.

    Election into the National Assembly will come up on the same day.

    The governorship election and state assembly polls will follow two weeks later–February 28, according to the time table issued by the Secretary to the Commission, Augusta Ogakwu.

    The Ekiti governorship election is fixed for June 21, 2014 while the Osun governorship election is billed for August 9, 2014.

    According to the Electoral Act, the parties are expected to submit the list of their candidates at least 60 days to the elections.

    In effect, the names of the presidential candidates should reach INEC not later than December 17, 2014 and those contesting governorship election the end of the same month.

    Declaration for office and campaign by the candidates leading up to the party congresses/conventions are expected to come up earlier.

    Section 99(1) of the Act (As Amended) requires INEC to allow campaign at least 90 days before any poll.

    Section 25 of the Electoral Act mandates INEC to organise elections 150 days or 30 days before the expiration of the tenure of office of any holder.”

    The Section, which applies to all political offices, reads: “An election to the office of the President (as applicable to all offices) shall be held on a date to be appointed by the Independent National Electoral Commission in accordance with the constitution and this Act.

    “An election to the said office of the President (as applicable to all offices) shall be held on a date not earlier than 150 days and not later than 30 days before the expiration of the term of office of the last holder of that office.”

    INEC is expected to release guidelines on the elections in due course.

  • SEC releases audit report on ETI

    Securities and Exchange Commission (SEC) yesterday released the report of its investigation and audit of the corporate governance at the Ecobank Transnational Incorporated (ETI) Plc outlining several weaknesses in the board of the financial conglomerate and urging it to implement a one-year remedial plan.

    Following a series of publications in the local and international media regarding breaches of corporate governance at ETI, SEC had launched an investigation into corporate governance practices within ETI in August 2013. SEC also engaged KPMG to supplement its efforts and make recommendations on the way forward.

    In a statement made available yesterday, SEC stated that the audit and investigation identified gaps in corporate governance at ETI including absence of a clear vision and strategy to drive the institution; inadequate transparency in the recruitment procedures and mechanisms for board members and executive staff which fostered conflicts of interest and weaknesses in governance culture, communication, remuneration for board members and executive level personnel and decision making.

    The report also noted absence of dedicated channels for whistleblowers to report instances of anomaly as well as what it described as “the often compromised autonomy of governance mechanisms such as internal control, and the audit and compliance committee of the board”.

    “The SEC has now advised ETI that the findings constitute an important basis for convening an Extra – Ordinary General Meeting (EGM) of shareholders to deliberate and pass resolutions on the critical findings and recommendations of the corporate governance audit. The SEC further advises that the EGM should be held before the end of February 2014,” the statement noted.

    According to the apex capital market regulator, ETI needs to develop a one-year remedial plan with specific measures to address the specific governance gaps observed. In the public interest, ETI will also have to provide a quarterly report on progress being made on the remedial plan.

    SEC said that ETI will need to appoint a substantive board chairman who will lead the effort to attain an improved governance climate adding that it will be important that such an appointment is the result of a credible selection process.

    “Such a chairman also needs to have the relevant experience and skills to guide this remedial plan. The chairman should have integrity, independence and should not have the potential for conflict of interest in the discharge of the role. Steps should also commence to ensure that ETI has board members and a management team that have the requisite skills and experience to oversee or manage the affairs of ETI at this time,” the report stated.

    SEC noted that the implementation of the recommended remedial plan will eliminate the governance lapses and will further strengthen ETI.

  • 2015: Lagos PDP releases guidelines

    2015: Lagos PDP releases guidelines

    Lagos State Peoples Democratic Party (PDP) Chairman captain Tunji Shelle (rtd) yesterday asked members interested in the governorship in 2015 to declare their ambition.

    He directed the aspirants to make their intentions known to the party leadership before kicking off their campaigns.

    In a statement signed on his behalf by the Publicity Secretary, Mr. Taofeek Gani, the chairman promised to guarantee a level playing ground for the aspirants.

    No fewer that 10 governorship aspirants have started mobilisation acros the pre-existing 20 local government areas. Prominent among them are Senator Musiliu Obanikoro, Mr. Tunde Gbadamosi, Qudus Folami, Owolabi Salis, Chief Bode Oyedele, Mrs. Modupe Sasore, Mrs. Remi Adikwu-Bakare, and Dr. Ade Dosunmu.

    For the first time in the history of the party, some chieftains are calling for the zoning of the slot to the Lagos East Senatorial District. However, party officials disclosed that the clamour will be ignored to avoid shitting the door against other aspirants.

    Shelle asked the aspirants to forward their letters of intent and curriculum vitae to the party secretariat before declaring their aspiration publicly at any forum.

    He said: “The Lagos PDP has announced to its members who are interested in elective offices to now make their intention known by formally approaching the party. This step is also deliberate. It is to regulate the influx of aspirants into the race and lobby of the aspirants. we want to provide a level playing ground for all contestants.

    “The letter of intent is to be affixed with the aspirants’ curriculum vitae and addressed to the State Working Committee through the office of the chairman”.

  • Capital budget releases in 2013 hit N1tr

    Capital budget releases in 2013 hit N1tr

    The Federal Ministry of Finance has released N160 billion for the execution of capital projects across the country for the fourth quarter of this year.

    A statement from the ministry by Paul Nwabuikwu, special adviser to the Minister of Finance, said this brings the total capital releases for 2013 so far to N1.01 trillion.

    Nwabuikwu said: “Previous quarterly releases for 2013 were as follows:·First quarter: N400 billion. ·Second quarter: N200 billion. ·Third quarter: N250 billion.

    A further breakdown, he said, shows that N598.4 billion of the capital budget or 72.3 per cent has been utilised as at the end of the third quarter of 2013 and a balance of N229.6 billion unspent by various Ministries Departments and Agencies (MDAs) remains at the Central Bank.

    The N160 billion released for the fourth quarter, the ministry said, will bring spendable balances to N450 billion till the end of the year.

    Nwabuikwu added that the “salaries of workers in Federal Government ministries and agencies for October were paid before the 20th of the month, according to a Presidential directive for the convenience and comfort of staff.”

    N1.621.46 trillion was budgeted for capital expenditure in 2013 and going by the figures released by the Federal Ministry of Finance, only N633.4 billion will be left as a balance in government coffers.

  • INEC releases voter register

    The Independent National Electoral Commission (INEC) yesterday released the voter register for the November 16 governorship election in Anambra State.

    It was presented at the INEC headquarters in Awka by Mr. E. Akem, an engineer, who came from Abuja, in the presence of the State Resident Electoral Commissioner (REC), Prof. Chukwuemeka Onukaogu and the supervising National Commissioner, Mr. Lawrence Nwuruku.

    All the political parties, who will be involved in the poll (23 in number), were represented by four of their members each and were given copies of the voter register.

    INEC said at the completion of 2011 voter registration, the commission gave a tentative total registered voters in Anambra as 2, 011, 746, adding that since then, the data capture process had undergone series of processes.

    It said one million, seven hundred and eighty four thousand, five hundred and thirty six (1,784,536) persons were registered, while 93, 354 persons would be prosecuted for double registration.

    He said the issue of double registration was not only peculiar to Anambra State, adding that the number of polling units were 4, 608.

    Akem brought out the indices as follows: age groups, 18-35 were 52 per cent, 36-50 persons registered were 25 per cent, those in the bracket of 51-69 were 18 per cent and 70 and above were five per cent.

    Also, the number of females that registered in Anambra was 900, 701, which accounts for 50.5 per cent, while the males reduced in number with 883 persons amounting to 49.5 per cent.

    However, it was discovered from the voter register that Ogbaru Local Government had the highest number of voters with over 139,000, closely followed by others, such as Ayamelum.

    Prof. Onukaogu congratulated the political parties on the way they had conducted their campaigns so far.

    “Once the campaigns are devoid of rancour, character assassination, hooliganism and thuggery, the electorate will be in a better position to make a choice that is most ideal and appropriate,” he said.

  • WAEC releases ‘inconclusive’ 2013 WASSCE results

    WAEC releases ‘inconclusive’ 2013 WASSCE results

    The West African Examination Council (WAEC) yesterday said it could not compute the percentage of candidates who made a credit pass in English language, Mathematics and three other subjects because of the security challenges in the North.

    Releasing the details of the results of the May/June West African Senior School Certificate Examination (WASSCE) at the council’s headquarters in Yaba, Lagos, WAEC’s Head of the Nigerian National Office Mr Charles Eguridu said some of the scripts were hijacked and eventually stolen by insurgents.

    The WAEC chief explained that the insurgents waylaid the council’s officials during the examinations.

    The development has made it difficult for the examinations body to compare this year’s results with

    the previous years’ figures.

    But Eguridu said there was an improvement in this year’s results over the previous years’ figures.

    He said: “We are unable to provide statistics of candidates who obtained five subjects, including English language and Mathematics at this time. This is because many candidates in the Northeast have partial results at the moment, due to the security challenges encountered there during the conduct of the examination, particularly loss of scripts.”

    Giving a breakdown of the results, the WAEC chief said 1,689,188 candidates registered for the examination of which 1,671,268, consisting 920,416 males and 750,852 females sat for the examination.

    Eguridu said 1,543,683 (91.33 per cent) have their results fully released, while 145,505 (8.2 per cent) still have a few of their subjects still being processed because of errors traceable to candidates and their schools in the registration or writing examination.

    He said: “Of the total number of candidates that sat for the examination, 889,636 (53.23 per cent) obtained six credits and above; 1,074,065 (62.26 per cent) obtained five credits and above. Besides, 1,225,591 candidates (73.33 per cent) obtained credits or above in four subjects, while 1,353,273 (80.97 per cent) obtained credits and above in three subjects.

    “A total of 1,465,581 candidates (87.69 per cent) obtained credits and above in two subjects.”

  • Ogun releases N340m for WAEC fees

    The Ogun State Government has released N340 million for the payment of the West African Examination Council (WAEC) examination fees.

    The Commissioner for Information and Strategy, Alhaji Yusuph Olaniyonu, in a statement, said the amount will cover the fees of 41,000 pupils.

    He said the gesture was in line with the government’s determination to provide affordable and qualitative education, which is one of the five cardinal programmes of the Governor Ibikunle Amosun administration.

    Olaniyonu said: “As has been the case since the inception of this administration over two years ago, the government has released N340 million for the payment of the WAEC fees of 41,000 candidates. We are determined to continue to meet this obligation and others in the sector because we believe education is the catalyst for the development of other sectors of the economy.

    “The Amosun administration has, since its inception, been allocating the lion’s share of its budget to education. Twenty-three per cent of the 2013 budget went to education.”

    He said the administration would continue to provide free text books and learning materials for public primary and secondary school pupils, adding that work was ongoing on model schools across the state.