Breaking News..............!

INTERIM REPORT ON FINANCIAL, ASSETS RECOVERIES
4th June, 2016
- Lagos WatchDog
PRESS RELEASE
LOOTING: FG RELEASES INTERIM REPORT ON FINANCIAL, ASSETS RECOVERIES
The Federal Government made cash recoveries totaling N78,325,354,631.82 (Seventy eight billion, three hundred and twenty-five million, three hundred and fifty-four thousand, six hundred and thirty one Naira and eighty two kobo); $185,119,584.61(One hundred and eight five million, one hundred and nineteen thousand, five hundred and eighty four US dollars, sixty one cents); 3,508,355.46 Pounds Sterling (Three million, five hundred and eight thousand, three hundred and fifty-five Pounds and 46 Pence) and 11, 250 Euros (Eleven thousand, two hundred and fifty Euros) from 29 May 2015 to 25 May 2016.
In a statement in Lagos on Saturday, the Minister of Information and Culture, Alhaji Lai Mohammed, also disclosed that Recoveries Under Interim Forfeiture (cash and assets) during the period totaled N126,563,481,095.43 (One hundred and twenty six billion, five hundred and sixty three million, four hundred and eighty one thousand, and ninety five Naira, forty three Kobo; $9,090,243,920.15 (Nine billion, ninety million, two hundred and forty three thousand, nine hundred and twenty Dollars, fifteen cents; 2,484,447.55 Pounds Sterling (Two million, four hundred and eighty four thousand, four hundred and forty seven Pounds, fifty five Pence) and 303,399.17 Euros (Three hundred and three thousand, three hundred and ninety-nine Euros, 17 cents ).
According to the statement, which is based on the interim report on the financial and assets recoveries made by the various government agencies from 29 May 2015 to 25 May 2016, the Funds Awaiting Return From Foreign Jurisdictions total $321,316,726.1 (Three hundred and twenty one million, three hundred and sixteen thousand, seven hundred and twenty six Dollars, one cent); 6,900,000 Pounds (Six million, nine hundred thousand Pounds) and 11,826.11 Euros (Eleven thousand, eight hundred and twenty six Euros, 11 cents).
It showed that Non-Cash Recoveries (Farmlands, Plots of Land, Uncompleted Buildings, Completed Buildings, Vehicles and Maritime Vessels) during the period total 239.
The following is the breakdown of the recovered cash and assets:
INTERIM REPORT ON FINANCIAL AND ASSET RECOVERIES MADE BY THE FEDERAL GOVERNMENT OF NIGERIA FROM 29 MAY 2015 TO 25 MAY 2016
Cash Recoveries
Serial Items Naira US Dollar GB Pounds Euro
1 EFCC Cash at hand 39,169,911,023.00 128,494,076.66 2,355 11,250
2 Royalty/tax/payment to FGN account in JP Morgan account New York 4,642,958,711.48 40,727,253.65
3 ONSA Funds Recovery Account in CBN 5,665,305,527.41 8,000,000.00
4 VAT recovered from companies by ONSA 529,588,293.47
5 EFCC Recovered Funds Account in CBN 19,267,730,359.36 455,253.80
6 ICPC Revenue Collection Recovery in CBN 869,957,444.89
7 Office of the Attorney General 5,500,000,000 5,500,000
8 DSS Recoveries 47,707,000.5 1,943,000.5 3,506,000.46
9 ICPC Cash Asset Recovery 2,632,196,271.71
Total 78,325,354,631.82 185,119,584.61 3,508,355.46 11,250
Recoveries Under Interim Forfeiture
Serial Items Naira US Dollar GB Pounds Euro
1 Cash in bank under interim forfeiture 8,281,577,243.92 1,819,866,364.73 3,800.00 113,399.17
2 Amount frozen in bank 48,159,179,518.90 7,131,369,498.49 605,647.55
3 Value of properties under interim forfeiture 41,534,605,998.00 77,844,600.00 1,875,000.00 190,000.00
4 Value of cars under interim forfeiture 52,500,000.00
5 ONSA Funds under interim forfeiture 27,001,464,125.20 43,771,433.73
6 Value of Assets Recovered by ONSA 512,000,000.00
7 ONSA Assets under interim forfeiture 260,000,000.00
8 DSS Recoveries Frozen in Banks 658,929,000.00 226,476.20
9 EFCC Cash in Bank under final forfeiture 103,225,209.41 17,165,547.00
Total 126,563,481,095.43 9,090,243,920.15 2,484,447.55 303,399.17
Grand Total 204,888,835,727.25 9,275,363,504.76 5,992,803.01 314,649.17
Funds Awaiting Return From Foreign Jurisdictions
Jurisdiction US Dollar GB Pounds Euro
1 Switzerland 321000000
2 UK 6900000
3 UAE 310501 11826.11
4 USA 6225.1
Total 321,316,726.1 6,900,000 11,826.11
Non Cash Recoveries
Serial Items Quantity
ICPC EFCC ONSA
1 Farmland 22
2 Plot of Land 4
3 Uncompleted Building 1
4 Completed Building 33 145 4
5 Vehicles 22 3
6 Maritime Vessels 5
Total 82 153 4
Segun Adeyemi
SA to Hon Minister of Information and Culture
Lagos
4 June
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The Police Service Commission (PSC) on Thursday announced that 338,227 applicants have been shortlisted electronically from 911,438 that applied for the advertised 10,000 police jobs.

The Police Service Commission (PSC) on Thursday announced that 338,227 applicants have been shortlisted electronically from 911,438 that applied for the advertised 10,000 police jobs.
Exactly 573,211 applicants were weeded out on parameters set up in the recruitment portal for requirements in the exercise.
The Chairman of the Police Commission Mike Okiro who made this known at a press conference in Abuja said the online recruitment portal was made available to the public for six week from the 1st of April to midnight on May 13th 2016.
He said those shortlisted will go to the next stage of recruitment which involves physical screening exercise at their states of origin.
Okiro announced that the state screening exercise will begin on Monday, the 6th of June, throughout the 36 states and the Federal Capital Territory (FCT).
He said of the 338, 227 shortlisted, 44,661 are for cadet Assistant Superintendent (ASP), 87, 736 for cadet Inspectors and 205, 830 for Constables.
He said Benue state has 29, 000 applicants invited for the next stage while the second highest Kogi state has 19,000 while Lagos has one of the lowest number of applicants at about 2000.
He said invitation letters have been sent to the successful applicants for the states screening through text messages and to their electronic mail addresses.
Okiro said the invitation states the date for each person's screening and venue of the screening, adding that applicants will be grouped according to local governments and dates fixed for their screening.
He explained that the initial short list was done electronically and those who did not meet the initial requirement were weeded out by the computer.
This include: mismatch of certificates, wrong choice of cadre, year of birth earlier than 1988 for ASP/Inspectors, 1991 for constables and 1984 for specialists and multiple applications among others.
He said only those who passed the electronic requirement have been invited for the next stage of physical screening which involves: height measurement, chest measurement, checking impediment in speech, defective eye sight, bow leg and knocked knee.
Others checks are: flat feet, bent arms, deformed hands, gross malformation of teeth, bent knee and amputation of any part of the body.
He said other checks at the state screening also involves inspection for alteration on certificates, alteration on Birth certificate/ declaration of age, and any inconsistencies between educational certificate and date of birth, among others.
Okiro said after the screening, successful candidates will be invited to a zonal screening to be done at the 12 police zonal commands headquarters for medical tests.
He said the national interview in Abuja will climax the recruitment exercise where those who emerged from the zonal screening will be interviewed and the successful ones selected for training.
Okiro explained that the Ministry of Interior and the Federal Character Commission are being carried along in the exercise, noting that 12 cadets ASPs will recruited from every state, while 10 constables will be recruited from all the local government areas in the country.
He also explained that in spite of the number of qualified person that may emerge at the end of the exercise, only the very best 10,000 will be given the jobs.
It was gathered that about N161 million was released to the Commission to carry out the recruitment and selection phase of the exercise.
It was also learnt that N8 billion was earmarked for the entire exercise which also include the provisions for training facilities, equipments, uniforms and allowances of the cadets while under training.
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Ethiopian airline gives 50 free tickets to Nigerian Facebook users

Ethiopian airline gives 50 free tickets to Nigerian Facebook users
Ethiopian Airline’s Dreamliner
As part of celebration to mark 70 years of flight operation around the world, the management of Ethiopian Airline is giving out 50 free tickets to Facebook users in Nigeria.

Mr Solomon Begashaw, the General Manager of the Airline, made this known in a chat with newsmen on Thursday in Abuja.
“Ethiopian Airlines has served Africa for the past 70 years. In April this year we celebrated our 70 years.
“As part of our celebrations we are giving out 50 free tickets to Nigerians in the next 70 days.
“ Ten of those tickets are for the media, 10 for Abuja, 10 for Enugu, 10 for Kano and 10 for Lagos stations respectively.
“To qualify for the shortlist for free tickets, you only need to like Ethiopian Airlines Nigeria Page on Face book and text your Facebook name and phone number to 08133235804.
“ You must be resident in Nigeria to participate,’’ Begashaw stressed.
He explained that the tickets would be given to the selected people to travel to tourist sites of any country of their choice in the world.
“It will be an all expenses-paid trip for them.’’

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Breaking News......

Ex-Miss Turkey sentenced to 1 year in prison for 'insulting' Turkish president on social media http://dld.bz/e9B5r


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Thepanaceareports newsflash: Newspapers Headlines | 2nd June 2016

Thepanaceareports newsflash:
Newspapers Headlines | 2nd June 2016

"A good life is when you assume nothing, do more, need less, smile often, dream big, laugh a lot and realize how blessed you are."

•PUNCH
»BoT takes over PDP secretariat

»Jonathan back in Nigeria

»APC prepares to receive Ogboru, ex-speaker

»Buhari needs chief economic adviser

»Merging three ministries a mistake, says Osuntokun

»Opposition planning to cause confusion in Ondo ' Mimiko

»Militants attack more Chevron assets

»Nigeria risks housing crisis in four years ' Buhari

»Ecobank Nigeria fires 1,040 workers

»OPEC members seek joint action on oil output

»Customs, Navy seize two boats of smuggled rice

»Rising NNPC unpaid bills threaten oil production

»NIMASA plans reforms to drive sector's growth

»Customs agents lament corruption rate at seaports

»Buhari to inaugurate Abuja-Kaduna rail line in July

»Chevron, others partner FRSC on road safety

»Dalung blames 'unaccounted' N2.9bn for poor Rio preparations

 »Luxembourg star downplays Eagles win

»Wikki beat Enyimba, go top

•TRIBUNE
»Tragedy as flood hits Ibadan, 2 feared dead

»Lamido paid for non-existent contracts with Jigawa money 'Witness

»Navy parades 10 suspected pipeline vandals in Delta

»Military vows to flush out economic saboteurs
...Lay down your arms, Oshiomhole begs

»Ogoni clean-up: We've taken measures to ensure hitch-free kick-off by Buhari 'Wike

»Dana crash: We're going through hell over compensation' Victims' families

»Nigeria targets 30% electricity generation from coal 'Fayemi

»Unite the nation through prayers, Olubadan urges UNC

»Commercial motorcycling viable means of transportation 'Amosun

»Court sets aside appointment of AMCON manager for Avian Ltd

»N18 billion fraud: PDP seeks prosecution of Edo officials

»Judiciary staff opt out of Ekiti strike as Fayose begs workers

»Reps to probe herdsmen attack on Ekiti

»Nkpor Killings : Anambra govt debunks shoot on sight allegation

»Again, Avengers blow up Chevron oil well in Delta

»Abuja-Kaduna rail line ready for commercial use July'Amaechi

»Boko Haram responsible for tomato scarcity 'Lai Mohammed

 »Oyo schools: Labour disrupts stakeholders' meeting, chase people out of venue

»PDP BoT takes over, sacks Sheriff, Makarfi

»Nigeria lost $565.8m to mismanagement of oil blocs 'Reps

»Militants give FG 48-hour ultimatum to release corpses of Biafra agitators

»Newspapers Headlines compiled by Eniola Opeyemi

»Troops rescue 157 captives as 77 Boko Haram members surrender

»Assets declaration: Prosecution's application for adjournment stalls Saraki's trial at CCT

•VANGUARD
»Wife blames menopause for denying husband sex

»2% of Nigerians own 90% bank deposits ' NDIC

»Buhari's visit to Rivers; Wike puts Security on high alert

»Do not be blackmailed by the Avengers; Oshiomhole to Buhari

»15 incredible jobs you can do from home

»More oil woes as militants blow up Chevron's wells

»Hunger drove me back to robbery'ex-convict

»Shelve strike to allow dialogue, Fayose tells Ekiti workers

»BOKO HARAM: 'We won't return to our so-called liberated communities until

»FG to establish national shipping line 'AMAECHI

»Shettima petitions IG over presidential poster

»No regret dragging Oshiomhole to tribunal in 2012 'Edo APC gov aspirant

»CRISIS IN N-DELTA: Rep tasks military on professionalism

»ONE YEAR IN OFFICE: Delta Assembly passes vote of confidence in Okowa

»Petroleum varsity sited in Ugbomro 'Group

»Ekiti court remands two herdsmen over Oke-Ako mayhem

»PDP, put your house in order

»Decline in economic activities persisted in May- CBN

»Obasanjo's inappropriate criticism of Justice Idris

»IoT to overtake mobile phones by 2018 ' Ericsson mobility report

•THE NATION
»Buhari in Rivers for Ogoni clean-up

»BoT takes over PDP secretariat

»Ex-Governor Sheriff to court: I remain PDP chairman

»Shell laments significant decline in production

»Oshiomhole backs Buhari's measures against vandalism

»FMC Owerri crisis: MHWUN accuses police chief of bias

»Kogi governor nominates commissioners

»Alleged N1.9b fraud: EFCC detains ex-Governor Fintiri

 »LOVE'The Most Excellent Way 2

»Ventures platform launches Nigeria's full service tech innovation hub

»High blood sugar crashes125 points in 5 days

»Women can enjoy their menopause

»How to handle rainy season conditions

»EKSU holds 43rd inaugural lecture

»MSSN Ogun gets new leaders

»Govt should revive Vision 2020, says expert

»120 teachers for Australian exchange programme

»Bankole urges OOU to provide quality education
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Why Murray-Bruce was barred from greeting Buhari- Sen. Adeyeye -

Why Murray-Bruce was barred from greeting Buhari- Sen. Adeyeye
-
Senator representing Osun Central Senatorial District, Prof. Sola Adeyeye has reacted to the accusation of Senator representing Bayelsa East Senatorial District, Ben Murray-Bruce, that operatives of the Department of State Services, DSS, prevented him from "greeting" President Muhammadu Buhari at a state dinner organised at the instance of President Buhari to mark the 2016 Democracy Day.
Professor Adeyeye argued that Murray-Bruce breached protocol and he was turned back along with some All Progressives Congress, APC lawmakers.
Recall that yesterday, Murray-Bruce tweeted: "I was at the Presidential Villa today, went to the president's table. DSS wouldn't allow me greet him, but let another senator greet him. I have nothing against the President. However, nobody is too important to be criticized and my mouth will never be silenced!"
Explaining what transpired at the dinner, the APC lawmaker said: "I was at the dinner. I sat in the front row along with other Principal Officers of the National Assembly. I had a vantage view of what transpired. I am disappointed by this comment from a respected colleague. I have on two occasions provided robust defense of Sen Ben Bruce. Not this time!
"It was Dino Melaye who first went to greet those seated at the President's table, including President Buhari. He was well greeted. No one in the senate has criticized President Buhari more than Sen Melaye. But as others rose to do what Dino had done, the scene got clumsy and indecorous because people were approaching the President's table from different directions.
"I sat between Sen Olujimi and Sen Bwacha. The three of us felt embarrassed by what was clearly a breach of dinner protocol. At that level, if dinner was served or being served, good etiquette demanded that the President's table should not be approached. One should wait until people had finished eating."
"No senator in the USA would breach such elementary protocol. We (on my table) predicted in whispers that colleagues would soon be barred from approaching the President's table and it happened. The first person to be turned back was Sen Barnabas Gemade who was visibly embarrassed. He belongs to the APC; he is not a known critic of the President.
"When I noticed that most people had finished their food, I approached the table and offered my pleasantries. Others followed suit. No one was turned back," explained Adeyeye
Vanguard
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BETWEEN TOMATOES AND CRUDE OIL....

BETWEEN TOMATOES AND CRUDE OIL....
Now that tomatoes have proven that they can be expensive, and that whenever they are scarce in any nation that nation can catch cold with the nation's citizens eating rice with frowned faces because their stew is only full of red palm oil without tomato, why don't we begin to protect our tomato farms from bombings by Ijaw terrorists masquerading as Niger Delta Avengers?
Just thinking loud that if they realize tomato is getting more expensive than crude oil they could bomb all tomato farms and all other farms indeed!
‪#‎ OperationProtec tOurFarms‬
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UPDATE ON OPERATION LAFIYA DOLE

UPDATE ON OPERATION LAFIYA DOLE
The Nigerian troops deployed in Operation LAFIYA DOLE and their neighbouring counterparts under the Multinational Joint Task Force have been very busy clearing the remnants of Boko Haram terrorists in their respective areas of responsibilities. In the process, they were able to rescue quite a number of abducted persons, arrested suspected Boko Haram terrorists, recovered weapons and equipment.
The troops of 81 Battalion and 251 Task Force Battalion, 25 Task Force Brigade on 30th May 2016, received 79 persons who claimed to have been kept captives by Boko Haram terrorists at Ngwalimiri village but escaped at their location. They comprised 12 men, 24 women, 31 children and 12 infants. All of them are undergoing preliminary investigation and screening to determine their status before onward movement to Internally Displaced Persons camp for rehabilitation.
In furtherance of the efforts to keep Bitta-Damboa road open and secure to commuters, troops of 28 Task Force Brigade have cleared Bulajani, Mulgwo and Muotu villages of remnants of Boko Haram elements.
During an encounter at Moutu specifically, a soldier sustained an injury on the forehead, while 5 Boko Haram terrorists were killed by the troops, while a few others were suspected to escape with gun shot wounds. The troops recovered 3 locally made guns.
The advancing troops linked up with their counterparts of 25 Task Force Brigade at Gombori village and rescued 157 persons escaping from Boko Haram terrorists captivity. The rescued persons comprised 47 women, 91 children, 19 men. They are currently undergoing preliminary investigation and thorough screening to also determine their status.
In a related development, troops of 7 Division Garrison arrested a 28 year old suspected Boko Haram terrorists' spy, Musa Mallam Aman, around the Garrison Headquarters complex in Maiduguri metropolis. Preliminary investigation confirmed that he hailed from Maradhi village in Niger Republic and added that he was not alone as there were Boko Haram terrorists spies in Maiduguri. While efforts have been intensified to track and arrest his other accomplices, Musa has since been handed over to Joint Interrogation Committee (JIC).
Troops of 22 Brigade Garrison and their Nigerian Security and Civil Defence Corps (NSCDC) in Dikwa have also embarked on routine and fighting patrols to maintain security on construction and rehabilitation works of public buildings and infrastructure that would facilitate return of public officials and people back to their ancestral homes.
In addition, the troops have been carrying out clearance operations and patrols to keep Maiduguri-Mafa-Dikwa-Gomboru Ngala road open and secure.
The troops of 26 Task Force Brigade on their part, have intensified patrols and clearance operations in their area of responsibility.It was in that process that they discovered an Unexploded Object (UXO) and its casing at Hausari Street Gada Mayo yesterday afternoon.
Similarly, another patrol team of the Brigade yesterday successfully cleared Boko Haram terrorists hideouts along Gwoza-Kwatara-Kasa-Uvaha hills. The troops also rescued 4 men, 2 women and 5 children that fled Boko Haram terrorists location at Uvaha as a result of the formation's offensive against the terrorists.
In a related development 77 Boko Haram terrorists have surrendered themselves to troops of 122 Task Force Battalion. They comprised 17 men, 16 women, 16 male children and 28 female children. The surrendered terrorists have been moved to Yamteke by combined team of 26 Task Force Brigade for preliminary investigation and screening.
Troops have also arrested a deserter soldier, 03NA/53/3098 Corporal Musa Titima of 117 Task Force Battalion, attached to 114 Task Force Battalion, who absconded from duty while on Operation CRACKDOWN at Bitta. The soldier was also allegedly involved in a fracas with Mr Salisu Ngatha at Kabang Ward on 30th May 2016 that led to the death of the civilian. The soldier has been moved to the Brigade headquarters for proper investigation and other disciplinary process.
Following tip off by well meaning Nigerians, troops of 7 Division Garrison, conducted clearance patrol at the following villages; Abachari, Asanari, Mediari, Toluwari, Chuwnari, Gaya, Zarumari, Alanari, Shuwari, Ngadaya, Chempo, Samaa, Matari, Utoro and Kayamla in Jere and Konduga Local Government Areas of Borno State on 31st May 2016.
During the patrol, troops came in contact with members of Boko Haram terrorists group at Samaa village, killing a number of them and recovered 3 motorcycles, 143 rounds of 7.62mm ammunition, 2 bicycles, 2 bags if mango, 1 tricycle tyre pump 2 water bottles and pellets for Improvised Explosive Devices (IEDs) making.
The morale of troops in the theatre of operations remains very high.
We would like to reiterate our earlier calls on the public especially in Borno State, to be security conscious and cooperate with the security agencies.
You are please requested to disseminate this information to the public through your medium.
Thank you for your kind cooperation.
Colonel Sani Kukasheka Usman
Acting Director Army Public Relations
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Sign your death warrant before visiting Ogoniland – Avengers threaten Buhari

Sign your death warrant before visiting Ogoniland – Avengers threaten Buhari
-
The Niger Delta Avengers called Radio Biafra yesterday, the 31st may,2016, sending a warning to President Buhari to cancel his proposed visit to Ogoniland or consider himself dead.
The Avengers told President Buhari to sign his death warrant before coming to the creeks and further said that any representative sent will also be killed,
Statement below:
" This is Niger Delta Avenger…it has come to our notice that the Nigerian army killed our brothers who went to remember our dead heroes on 30th may in Nkpor, Anambra State, the army will hear from us, you are all monsters but you must pay.
"Buhari do not step your foot in our land because we heard you want to visit Ogoni land. Before coming you should sign your death warrant because we will kill you.
"If you don't come and decide to send representives, you should also sign their death warrant. Any Niger Delta elder working against our people should also sign their death warrant.
"Finally we are urging all Biafrans who to us are our brothers to keep faith with Nnamdi Kanu as they cannot harm him even in their custody thank you".
‪#‎ Thepanacea News
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ILORIN MESU IJAMBA! OLA ADUA NI FAH..... CORRUPTION WINS

ILORIN MESU IJAMBA!
OLA ADUA NI FAH..... CORRUPTION WINS
The Code of Conduct Tribunal has
adjourned the trial of Senate
President, Bukola Saraki,
indefinitely, after a star witness
for the prosecution failed to show
up at the court.
The tribunal announced the
decision on Wednesday.
Mr. Saraki's trial was on May 25
adjourned till Wednesday, for the
cross-examination of the witness,
Michael Wetkas, to continue.
The tribunal chairman, Danladi
Umar, said the adjournment was
to give the court time to hear
other cases.
The prosecution and defence
teams also said the break would
allow them prepare their cases
better.
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PATH TO ECONOMIC RECOVERY BY DMO CHIEF

PATH TO ECONOMIC RECOVERY BY DMO CHIEF
by Thepanacea Reporter
Debt Management Office (DMO) Director-General Dr. Abraham Nwankwo has painted a rosy economic future anchored on diversification and enhanced revenue from taxation. According to him, in three to five years, Nigerians will feel the impact of the present administration's policies on manufacturing, agriculture, entertainment and mining, among others, because they will strengthen the naira and improve foreign reserves, writes COLLINS NWEZE.

The naira and foreign reserves are the worst hit in the wake of Nigeria's dwindling revenue because of the crash in crude oil prices. The naira has shot up from 215 to 350 against the dollar in the last 16 months in the parallel market; the reserves have continued on their downward slide from over $36 billion to $26.5 billion within the same period.

As worrisome as these indicators may be, Debt Management Office (DMO) Director-General Dr. Abraham Nwankwo described them as temporary setbacks that will be overcome when the government's policy on diversification of the economy begins to crystalise.

At an interactive session with reporters in Lagos last weekend, Nwankwo said the government's efforts at revitalising other sectors of the economy, such as agriculture, solid minerals and manufacturing, among others, will impact on the economy in the next three to five years.

He said when the economy is diversified, Nigeria's growth will not be determined by the prices of crude oil.

The DMO boss said much revenue would be derived from taxation, adding that the country's low comparative tax revenue to the Gross Domestic Product (GDP) ratio, currently at about seven per cent against the 18 per cent average in most developing countries, will improve following efficient production.

He said through taxes, government can secure the fund to finance major developmental projects that will impact on the people's lives.

Nwankwo is optimistic that, despite the challenges, Nigeria's dream of becoming one of the best 20 economies in the world by year 2020 is still realistic.

"The target of getting the country to rank among the 20 leading economies in the world by 2020 is still being pursued. The crash in crude oil prices should not in any way derail that target. When you are running a race and something trips you and you fall, you have to wake up, and continue the journey. Also, even if oil is the base for economic growth and development, it was an inappropriate base for growth. But luckily for the country, there are alternatives in agriculture," he said.

The DMO chief said the country has been unable to exploit up to 25 per cent of opportunities in agriculture.

He said: "We need to achieve internal food security and have the opportunity to export agro-based products in processed form. Imagine the variety of food stuff from savannah to the deserts, all the various legumes, roots and others that can be grown from these environments. If we effectively exploit agriculture, if and as we are making progress in agriculture, firstly, the major consumer of our forex like agro-based raw materials, rice, fish, poultry, wheat, will be taken care of and government will save billions of dollars from these imports.

"We have the capacity to produce these products and even export to other countries. Based on the pronouncements of the agriculture minister based on the vision of President Buhari, in three to four years, we will be self-sufficient in poultry, rice production. We are on the right path to be self-sufficient in food, and enormous forex will be saved from agriculture production alone. Reserves will rise, and the local currency will be stronger. That is the essence of the growing economy.

"You can see that in the manufacturing sector, some factories are operating below capacity. But with the ongoing implementation of President Muhammadu Buhari's policy on diversification of the economy and revitalizing the power infrastructure, the sector will pick up and create more jobs for the people."

Road to diversification

President Buhari had in his democracy day broadcast on May 29, said the economic misfortune facing the country due to low crude oil prices has equally provided it with an opportunity to restructure the economy and diversify.

"We are in the process of promoting agriculture, livestock, exploiting our solid mineral resources and expanding our industrial and manufacturing base. That way, we will import less and make the social investments necessary to allow us to produce a large and skilled workforce. Central Bank of Nigeria (CBN) will offer more fiscal incentives for business that prove capable of manufacturing products that are internationally competitive. We remain committed to reforming the regulatory framework, for investors by improving the ease of doing business in Nigeria," he told Nigerians.

Already, the first steps along the path of self-sufficiency in rice, wheat and sugar – big users of Nigeria's scarce foreign exchange – have been taken.

For instance, the Labour Intensive Farming Enterprise will boost the economy and ensure inclusive growth in long neglected communities. Special intervention funds through the Bank of Agriculture will provide targeted support.

Also, the Solid Minerals Minister the minister has produced a roadmap where we will work closely with the World Bank and major international investors to ensure through best practices and due diligence that we choose the right partners. Illegal mining remains a problem and we have set up a special security team to protect our assets. Special measures will be in place to protect miners in their work environment.

The National Economic Team under the Presidency chaired and managed by the Vice President Prof Yemi Osinbajo which also has the Finance Minster, Mrs. Kemi Adeosun as member. The DMO's Director-General, Dr. Abraham Nwankwo, is also a member of the team. Other members are Ministers of Budget; Trade and Investment; and Information. The team is expected to guide the government to achieve the desired result.

Eurobond sale coming

Beyond the need to diversify the economy, Dr. Nwankwo also said Nigeria may still access the Eurobond or sovereign sukuk market for more cash. He said Nigeria is working out details for issuing a debut sovereign sukuk this year and may also sell a Eurobond.

He hinted that Nigeria had yet to determine the size of a potential sukuk deal and was working with the Securities and Exchange Commission (SEC), the Central Bank of Nigeria and the stock exchange to build capacity.

Besides, Nigeria's low debt to Gross Domestic Product (GDP) ratio means the country can borrow more to fund budget, infrastructure and other essential projects that will stimulate the economy and create jobs for the citizenry.

Nigeria, reeling from the plunge in vital oil revenues, has set up a government committee to advice on the amount to be raised from the Islamic bond sale, the timing and jurisdiction of issue, either domestic or foreign.

"We are definitely going to issue a sukuk this year. We may also likely issue a Eurobond this year. We are working hard to put together the entire necessary framework," Nwankwo told Reuters on the sideline of a media briefing.

Budget and infrastructure funding

The DMO boss said the N1.84 trillion deficits in the N6.06 trillion budget for 2016, will be used sorely for capital projects funding. He said this is the only time that such huge amount is allocated and specified for capital projects. "This is the first time that the budget specified that all borrowed funds will be for capital expenditure. The sharing of internal and international borrowing is almost 50/50. We have been borrowing locally, but we have to take advantage of the relatively low cost of funds externally. We do not want to borrow too much from the domestic economy, so that we do not crowd-out the domestic environment," he said.

He said that given the challenges the economy is going through, much depends on what the media reports. "The media is critical, because what the media tells the international community will determine investment flows into the country. It is our responsibility to continue working hard to ensure the resilience our economy is exhibiting is sustained, until we achieve the turnaround that will come with diversification," Nwankwo said.

He said achieving self-sufficiency in power will enable government generate more income; companies will be able to pay more taxes, thereby helping government diversify its revenue bases.

"It is possible that in the next five to seven years, the whole picture of Nigeria will be a complete turnaround because of government's economy diversification plan. The difference between Nigerian and other countries facing similar economic challenges is that those countries do not have the same opportunities we have in Nigeria. Nigeria is near 100 per cent idle capacity, meaning the flexibility to grow the economy is high," he said.

He urged Nigerians not to be depressed because of drop in crude oil prices. "We have no reason to be depressed just because crude oil price is down. We have to see the varieties of opportunities available for the country to grow the economy based on a well-diversified and sustainable manner. We as responsible stakeholders in the economy, should emphasise these opportunities," he said.

"Indeed in other countries, the major source of revenue is taxation. Taxation should also be explored. Government should be able to sustain itself with taxation revenues. Now with the better tax compliance, and effective sanctions for defaulters, we have a room to boost public revenue from taxation," Dr. Nwankwo stated.

Finance Correspondents Association Chairman, Babajide Komolafe, praised the efforts being made by the DMO to support government's diversification effort. He said the role of DMO in economic development cannot be over emphasised. He said that FICAN will continue to support the DMO to achieve its goals within the economy.
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Breaking News!

President Muhammadu Buhari asks Information Minister, Lai Mohammed to add the names of corrupt Nigerians who returned money on his list.

The list still being prepared
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PDP BOT sacks Sheriff, Makarfi; takes over party leadership

The crisis rocking the opposition PDP assumed new dimension today, with the party's BoT saying it had taken over the leadership of the party pending the resolution of the leadership tussle in the fold.

BoT Chairman, Walid Jibrin, told staff of the party that both the party's NWC led by fmr Gov. Ali Modu Sheriff and the Interim Nat. Caretaker Committee led by fmr Gov. Ahmed Makarfi had been sacked
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Man Carries His Large-Sized Fiancee In Viral Pre-Wedding Photo. Caption This

The way people are taking this pre-wedding issue is quite alarming. This photo of a soon-to-be couple in love -has set the internet on fire due to its "sensitive" nature. The man had to carry his large-sized fiancee to show the world that 'love knows no bounds' ...

What caption best suites this pic
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We’ll Soon Handover Kaduna Looters To EFCC – El-Rufai

We'll Soon Handover Kaduna Looters To EFCC – El-Rufai
Those who have embezzled money belonging to Kaduna State government in the past will soon face the Economic and Financial Crimes Commission (EFCC), Governor Nasir el-Rufai has declared.
The governor said the state government will hand over the case files of all looters as soon as EFCC resume operations in their newly acquired Kaduna office.
Governor el-Rufai revealed this while speaking on Nigerian Television Authority (NTA), Kaduna live vernacular programme.
el-Rufai said he has been in touch with the chairman of the commission, Ibrahim Magu and keep him up to date on the development.
The governor said, his administration discovered about 250 different accounts belonging to the state government with varied sums of money lodged into them.
Some of the accounts, according to el-Rufai dated back to the military era without subsequent civilian administrationsin the state having the knowledge of the accounts.
el-Rufai added that with the introduction of the Treasury Single Account (TSA), the administration has saved the state large chunk of fund, blocked many leakages hitherto used by civil servants and politicians in the state to siphon fund and pilfer workers salaries.
According to him, the state now has in its TSA the sum of N22 billion from which it draws to make up for any shortfall at any given time.😳😳�
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BUHARI'S ONE YEAR : THE TRAGEDY OF POOR JUDGEMENT

BUHARI'S ONE YEAR : THE TRAGEDY OF POOR JUDGEMENT
Guided by objective, fair and honest assessment of the one year of Buhari leadership the story is one that inspires hope and great expectations,..but under the grip of prejudice, partisanship and other known - Nigerian factor that hears , sees and perceives beyond and below the range of the obvious , the story is something else .
I had an exchange with one of the leading lawyers in town , Kenneth Ikonne, my friend and counsel to Ex- Senate President, David Mark in the recent Election Petition Tribunal...he posted a very scathing assessment on Buhari's one year in office and I replied him...The exchange mirrors the extreme positions of Buhari's admirers and his opponents.
KENNETH. IKONNE
Try as you may, it is impossible to escape the conclusion that the Buhari presidency has been less than adroit in steering the ship of state. Much of the inertia has been self- inflicted, and stems from a tragic psychological flaw in the Buhari persona. Unlike Mandela, Obama, Uhuru Kenyatta or even Mugabe, Buhari's sense of nation does not derive from reasoned introspection, deep learning or philosophical dissection. Rather, it is a product of raw, deep and unflagging prejudice, reinforced by a sense of messianic infallibility. His apparent frugality and honesty is the weapon with which he corrupts the nation on a grander scale, appropriating resources and public offices to the tribe of his birth, and riding roughshod on the sensibilities of other Nigerians. This morning, Buhari had no homilies of national reconciliation to preach, and no soothing words or condolences to offer to the gutted citizens of Agatu and Nimbo. I wasn't expecting any! It's in keeping with a persona so flawed and so removed from the innate leadership instincts which elevate and inspire a nation. Meanwhile, the Economy is dangerously flailing, but the President remains sanctimonious, and abjures any responsibility,preferring instead to find a convenient alibi in the exaggerated failings of the Jonathan presidency! Buhari's very personality abhors debate, but stirs fresh conflicts and cleavages. Never has Nigeria been this adrift, this divided, and so torn apart.The irony is that there are millions who still believe in him, even from the most enlightened of quarters. But this was also the irony of Jonestown that saw crazily indoctrinated worshippers voluntarily commit mass suicide at the behest of a certain Reverend Jim Jones .
MY RESPONSE
The conceptual logic of this post is attempted on a self-fancied gaudy misrepresentation , loosely fastened on detailed incompleteness and rough patches of red-hot raw prejudice , yet hailed by a homogeneous concentration of fellows in the bias expedition that the treatise vowed to accomplish from the outset ... tried as he did, to conceal the clarity of its bended objectivity and angular shaped perspective , he lost out by identifying disaster flashpoint in areas he has loaded geo- economic interest to the exclusion of even a mere mention of more dreadful disaster flash points.. at the end , patriotic nationalism and rounded humanism which the writer denied Buhari had a yelling presence in his treatise. How he deliberately excluded for commendation , success areas of the administration in its effort to upturn the vestiges of branded cluelessness exerted on the institutional structure of the Nigeria state by the immediate past regime is anybody's guess on what the writer chose to portray. Specifically the writer pretended his complete lack of awareness of thousands of lives roasted in the North East , whose level of pogrom and disaster proportion, Agatu and Enugu massacre dissolves with teasing ease in measured comparison. ....perhaps, in the eye of the writer , some telling degree of superior difference exist between the live lost in Agatu and Enugu in comparison to years of mass pig rom and even the plight of millions of the internally displaced in the North East....Our man cares less so long as his preferred area of interest is given attention ... That the out pour of global grief on the monumental waste of human live in the North East did not attract or deserve a mention in your patently biased treatise summarises it's best fit position - hardly even worth an item of material objectivity, a praise and laudatory remark for a treatise so utterly glaring for its lack of informed objectivity and unhealthy restrictions under the considered time frame will be pushing flattering to the extreme ...yet, in all these obvious oversight to his credit, Buhari is an ethnic bigot as he would have us believe... We understand your segregated/ selective empathy, if only considered from the standpoint of your ethnic extraction, the heavy lean on the Enugu massacre makes sense whilst for the Agatu , where perhaps your legal services are till much needed for the highest political office holder that region had produced in recent time , for its sure that his troubles are far from over,- Panama papers for an instance mention! ...the configuration of your selective reading of situation and issues embraces a rare genre of open denial and wrong attestation , twisted comparison ..while your bent suffers from an overdose of misplaced prejudice and undisguised resentment for the Buhari persona , carried with a false air of unbiased and objective critique, yet we toiled hard but could not see even a slight mention of the terribly horrendous pillage and naked thievery and mindless looting of public treasury perpetuated right under the nose of the globally acknowledged Mr cluelessness , which served as the inherited unsalutary working environment of the Buhari regime . intellectual dishonesty can't be more nakedly displayed. On the overall , the suspect rational intelligence and poor intellectual judgement of a few , with an unpopular and widowed democratic numeral cannot measure strength nor contend quality with the larger section whose might , power and superior judgment enthroned the Buhari regime.....
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