The Early Edition: Glancing The Major Headlines For 10th March, 2015

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Iraqi Forces Capture Town, Oil Fields From ISIL

Iraqi forces have captured another district and some oil fields outside of Tikrit, but were met with fierce resistance as they tried to advance into the city controlled by the Islamic State of Iraq and the Levant (ISIL), according to state television.




German Woman Fighting ISIL Killed In Syria

A German woman fighting with Kurdish militia has been killed battling the Islamic State of Iraq and the Levant (ISIL) in Syria, Kurdish officials have said. Kurdish Peoples Protection Units spokesman Nawaf Khalil said on Monday that Ivana Hoffmann, 19, died on Saturday while fighting alongside the armed group near a Syrian village.




Enterprise Bank Introduces Cooperative Loan Scheme

Enterprise Bank has introduced a loan scheme for trade unions and cooperative societies in private and public organisations. The lender said the move was in line with its commitment to continually meet the needs of its growing clientele across the country. The product, named ‘Union & Cooperative Loan Scheme,’ offers credit facilities to employees who belong to the same union or cooperative association in an organization.




BPP Claims N95bn Savings On Contracts

The Bureau of Public Procurement said it saved a total of N95bn in 2014 through cost reduction from contracts submitted by contractors for the various Ministries, Departments and Agencies of the government. The Director-General, BPP, Mr. Emeka Ezeh, who confirmed the figure in Abuja on Monday, stated that the amount was the difference between what the contractors and service providers had submitted to execute projects and what the bureau eventually approved.




NDIC Can’t Supervise Banks, CBN Tells Senate

The Central Bank of Nigeria on Monday rejected some of the proposed amendments to the Nigeria Deposit Insurance Corporation Act. The central bank insisted that some provisions in the document were targeted at usurping some of its core mandates, especially the supervision of the banks. The CBN Governor, Mr. Godwin Emefiele, stated this at a one-day public hearing on the ‘NDIC Act 2006, Cap N102 LFN 2012 (repeal and re-enactment) Bill 2015’ organised by the Senate Committee on Banking, Insurance and other Financial Institutions in Abuja.




External Reserves Fall By $3bn In Four Weeks

The external reserves have started dropping at a faster pace due to low demand for the nation’s crude oil and its falling prices globally. Nigeria derives 70 per cent of its revenue and 90 per cent of its foreign exchange from crude oil. According to the latest statistics from the Central Bank of Nigeria’s website, external reserves lost a cumulative amount of $3bn in the last four weeks. Specifically, the foreign reserves tumbled from $33.8bn on February 5 to 30.8bn on March 5.

This indicates a 9.7 per cent fall month-on-month.




US Stock Indexes Climb

United States stocks made slight gains on Monday as the market steadied after a big sell-off on Friday. Stocks slumped last week when a strong jobs report boosted expectations that the Federal Reserve would raise interest rates this summer. General Motors rose after announcing a $5bn stock buyback to appease an activist investor. The Associated Press reported that the Standard & Poor’s 500 index rose four points, or 0.2 per cent, to 2,075 as of 12:08am Eastern time.

The Dow Jones industrial average climbed 108 points, or 0.6 per cent, to 17,966 points. The Nasdaq composite was flat at 4,926.

General Motors announced that it would buy back $5bn of its own stock by the end of the year. The move is part of a deal with Harry Wilson, an activist investor and a former member of the government task force that restructured GM coming out of its 2009 bankruptcy.




Stanbic IBTC Builds SMEs Capacity

Stanbic IBTC Bank says it has taken its capacity-building initiative, aimed at helping to build a vibrant Small and Medium Enterprises in Nigeria, to Ibadan, Oyo State. The bank in a statement on Monday said over 500 participants converged on the Ibadan Civic Centre for the one-day capacity-building workshop.




Investor Sentiment Mixed – Report

The sentiment of investors in the Nigerian stock market is mixed with international investors skeptical and domestic investors cautiously optimistic, the Financial Derivatives Company said in a recent report, a ‘Monthly economic news and views’, presented last week at the executive breakfast meeting of the Lagos Business School.




First Bank Promotes Business Partnerships Among NGOs, Others

First Bank of Nigeria Limited says it recently concluded sustainability workshop was meant to foster business partnerships among Non-Governmental Organisations and corporate organizations. The bank, in a statement on Monday, said the workshop was hosted in partnership with the Lagos Business School to unveil the modern ways NGOs and corporate organisations could address social and environmental concerns of business customers, investors and the media.

It stated that in the wake of the emerging shift in stakeholder needs, which optimises social responsibility above business profitability, there was a landscape of opportunities for NGOs and corporate organisations to collaborate, increase capacity, sustainability, and deliver service to the community.

The workshop, it stressed, was designed to develop business partnerships between NGOs and corporate organisations to achieve widespread and lasting change in the business environment.





Adeyeye Chides APC Over Opposition To Obanikoro’s Appointment

Minister of State for Works, Prince Dayo Adeyeye, has chided the All Progressives Congress over the party’s opposition to the appointment of Senator Musiliu Obanikoro as a minister. The minister said the APC was becoming too irritating in its desperation for power.




Nigeria’s Unity Not Negotiable – Christian Elders

The National Christian Elders Forum has expressed concern over the spate of religious and political intolerance in the country, warning those behind it to desist. The forum also reminded those foisting violence on the country that they would not succeed because the nation’s unity ‘is not negotiable and cannot be compromised.’




Fayose Asks Buhari To Quit Presidential Race

Ekiti State governor, Ayodele Fayose, has asked the All Progressives Congress and its presidential candidate, Maj. Gen. Muhammadu Buhari (retd.) to withdraw from the March 28 presidential election. Fayose said Buhari and the APC no longer had the moral right to participate in the presidential election, having allegedly lied to Nigerians on several occasions.




NPS Blames Jailbreaks On Prison Locations

The Nigerian Prisons Service has said that location of prisons in residential areas is partly responsible for the increasing rate of jailbreaks in recent time in the country. According to the NPS, the location of prisons within towns and other residential areas makes easy access to the facilities.




Non-release Of N230bn Funds Stalls Federal Road Projects

Minister of Works, Mr. Mike Onolememen, told the House of Representatives on Monday that over N230bn was outstanding as unreleased funds budgeted for road projects since 2012. The minister said the development had impacted negatively on the pace of work on many road projects as the ministry had to struggle to execute projects.




MASSOB Endorses Jonathan

The leadership of the Movement for the Actualisation of the Sovereign State of Biafra has endorsed President Goodluck Jonathan for a second term. The decision was reached after its national executive meeting on Monday.




APC Not Sponsoring Jega – Fayemi

The immediate past Governor of Ekiti State, Dr. Kayode Fayemi, has said that the All Progressives Congress is resisting the move to sack the Chairman, Independent National Commission, Prof. Attahiru Jega, because it unconstitutional. Fayemi stated this in an interview with Channels Television, on Monday. Describing the allegation that the APC was sponsoring Jega as balderdash, Fayemi noted that it was the APC that should be making the allegation because the ruling party appointed the INEC commissioners.




You’ll Never Bbe Awolowo, Bode George Tells Tinubu

A Peoples Democratic Party leader in Lagos State, Chief Bode George, says a former Governor of Lagos, Asiwaju Bola Tinubu, will never be like the late sage, Chief Obafemi Awolowo, no matter how hard he tries.

Tinubu, who is a national leader of the All Progressives Congress, is said to be largely responsible for the successful merger of the APC due to his influence across the South-West and parts of the South-South.




Thugs Attack Otti At Ikwuano

Despite the peace accord signed by the representatives of the various political parties in Umuahia and Aba, Abia State last week, thugs allegedly hired by the Peoples Democratic Party (PDP) yesterday attacked the All Progressives Grand Alliance (APGA) governorship candidate, Dr. Alex Otti, and his campaign team in Ikwuano.




Boko Haram Pushed Out Of Two Nigerian Towns

The troops managed to drive the Boko Haram islamists out of the Nigerian towns of Malam Fatouri and Damasak, as a part of a major offensive which Niger and Chad forces launched over the weekend. We have kicked the enemy out of these areas and they are now under our control, a Niger military source states.




ISIS Fans Create Own Social Network

Isis supporters have set up their own social network, Khelafabook, though the site looked amateur and has broken since it was discovered last night. The site claimed to be set up to allow Isis and its supporters to communicate each other in the face of bans from social networks like Twitter and Facebook.




Fire Guts AIT Studio

The Studio of Daar Communications Plc, owner of the African Independent Television (AIT) and Ray Power FM located at Alagbado area of Lagos was on Monday morning gutted by fire. The inferno reported immediately after its early morning news magazine programme, ‘Kaakaki’ at its Lagos Alagbado office started from a high voltage electricity in the studio.

However, the fire was reportedly put out around 9: 30 am by combined efforts of the Lagos State Fire Service men from Agege, Ikeja and Alausa division.




Possible IS-Boko Haram Alliance Unsettles Nigerians

Some 200 vehicles with soldiers from Chad and Niger crossed into Nigeria on Monday as regional efforts to fight Boko Haram intensified. Meanwhile the Nigerian Islamist militants have pledged allegiance to Islamic State (IS) which controls swathes of Syria and Iraq. As Nigeria’s neighbors –including Chad, Niger and Cameroon form a multinational force– form a multinational force to confront Boko Haram, the militant Islamists have said they are seeking a formal tie-up with IS.

One Nigerian resident spoke to *DW on Sunday (08.03.2015) was evidently alarmed by the news.

“The IS is in fact very strong so we have to make a reasonable contribution to tackle the issue of Boko Haram before it gets beyond our control,” he said.

Nigerian security expert Ibrahim Aliyu concurred. He told *DW he feared the struggle against Boko Haram would now go global and it would be even more difficult for the Nigerian government to contain them. He said he believed the government should “try and see if they can bring those people to the table.”





Fresh Explosion Rocks Borno Market, Kills Five

Suspected members of the dreaded Islamist sect, Boko Haram have reportedly killed at least 5 people and injured many others in an attack carried out beside the Beneisheikh market, Borno State, Northeast Nigeria. Authorities say the casualty figure from the attack, which occurred at the early hours of Sunday, could have been relatively higher if the bomb was planted within the market.

Witnesses say traders and buyers in the market took to their heels for safety after the explosion occurred.
Borno State Commissioner of Police, Clement Adoda has confirmed the attack.

A source in the hospital said the death toll from the multiple bomb attacks on Maiduguri, Borno State has risen from 58 to 62.




Nigerian Children ‘Imprisoned’ By Poor Education, Hunger, Diseases – APC

The All Progressives Congress, APC, has said that the Nigerian children are imprisoned by poor education, hunger and diseases because the government has refused to enforce laws that protect them. The party made this known in a series of tweets using the hashtag #WhyWeMarch via its micro-blogging, Twitter page, @APCNigeria.




3 Women Die In Road Crash As Custom Chase Smugglers

Controversy now trails a road crash last Thursday, that claimed the lives of three women described as petty traders, following the summersault of a commuter vehicle in which they were travelling, after being pursued by operatives of the Nigeria Customs Service (NCS) on Lagos-Benin Expressway.




Naira Crash: Terminal Operators Suffer 58% Reevenue Drop

As the naira’s free fall continues to take its toll on the nation’s economy, members of the Seaport Terminal Operators Association of Nigeria (STOAN) are groaning over a 58 per cent slash in their revenue arising from low import volumes.




Presidential Poll: Ekiti Predicts Victory For Buhari

A chieftain of the All Progressives Congress (APC) in Ekiti State, Mr. Segun Osinkolu, has predicted a landslide victory for the party during the forthcoming elections in Ekiti State.




Nigeria Won’t Be Ruled By Deceitful Leaders – Fayose

Ekiti State Governor, Ayodele Fayose has said that the All Progressives Congress (APC) and its presidential candidate, Major General Muhammadu Buhari (retd) no longer have moral rights to participate in the March 28 presidential election having lied to Nigerians on several occasions.




Party Condemns Maiduguri Bombings

The All Progressives Congress (APC) has condemned the bombings that left many dead and injured in Maiduguri, Borno State at the weekend, warning that those behind the continued killing and maiming of innocent people will not go unpunished.




Suspected Herdsmen Kill Family Of Eight In Plateau

Gunmen, suspected to be Fulani herdsmen, on Monday, attacked and killed a 62-year-old retired Police officer, Baba Jacob Wangte, and seven members of his family in the Sabon Layi area of Barkin Ladi Local Government of Plateau State.




Indonesian Court Rejects Final Appeal To Save Nigerians, Others

An Indonesian court has dismissed a legal challenge by a 42-year-old Nigerian, Raheem Agbaje-Salami, who is on a death row for drug peddling. Indonesian President, Joko Widodo, has rejected clemency representations from Nigerian authorities.




PDP Refutes Report Of Jonathan, Mu’azu Rift

The Peoples Democratic Party (PDP), on Monday, refuted reports of a rift between President Goodluck Jonathan and the National Chairman of the party, Alhaji Adamu Muazu. The party declared it remained a united family, stressing that no amount of media fabrications and malicious insinuations would distract it from its focus ahead of the general election.




FG Denies Moroccan King Snub Of Jonathan

The Ministry of Foreign Affairs has denied reports that King Mohammed VI of Morocco snubbed President Goodluck Jonathan at the weekend. The media was recently awash of a certain online publication on the snub of the Moroccan King, when President Jonathan made effort to rally support from the North African leader.





Henry Igwe

Henry Igwe

Copywriter. Sanguine. God understands me.

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