Read today's newspaper headlines [Wednesday, June 22, 2016]

For today, June 22 2016

BUSINESS DAY NEWSPAPER

‘Presidency’s delay in appointing agencies boards hurting economy’

President Muhammadu Buhari’s delay in reconstituting the boards of agencies and parastatals, which he disbanded since July last year, is seen by many as hurting the country and further depressing Africa’s largest economy which is struggling to avoid recession.

Observers are particularly concerned that this situation, like many others in which the President has failed…READ MORE

Bankrupt states get lifeline as FX flexibility boosts revenue

Sub-national entities in Africa’s largest economy, currently grappling with insolvency, may be in for a round of revenue gains from the Federal Account Allocation Committee (FAAC) allocation, following a currency float by Nigeria’s Central Bank. The three tiers of government could see a major surge in their revenues, if the exchange rate stays at current…READ MORE

Controversy trails purported ceasefire agreement between FG and Avengers

There are conflicting reports over the purported agreement reached by Federal Government and the militant group, Niger Delta Avengers to cease hostilities for one month pending the outcome of current negotiation efforts.

Media reports, citing a source from the Petroleum Ministry said an agreement has been reached for a one-month ceasefire agreement but the militants debunked such claims through their Twitter handle stating,“The NDA high command never remembers having any agreement on ceasefire with the Nigerian government.” READ MORE

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THE NATION NEWSPAPER

EFCC traces N4.7b arms cash to Fayose, Obanikoro

Detectives have traced about N4.745billion of the diverted $2. 1billion arms cash to a former Minister of State (Defence), Musiliu Obanikoro and Ekiti State Governor Ayodele Fayose.

The cash was sourced from the SAS Imprest Account of the Office of the National Security Adviser (ONSA) under ex-NSA Col. Sambo Dasuki (retd.) prior to the conduct of the June 21, 2014 Ekiti State governorship election, according to an Economic and Financial Crimes Commission (EFCC) investigation.

Others linked with the sharing of the slush funds include Fayose’s associate, Abiodun Agbele (Alias Abbey); Mrs. Helen Olayemi Fayose; Obanikoro’s sons — Gbolahan and Babajide — Ikenna Ezekwe; Sylvan Mcnamara Limited (a company allegedly run by the Obanikoros); Spotless Hotel, owned by Fayose and De Privateer Limited, which is owned by Agbele. READ MORE

Fed Govt sacks striking resident doctors

The estimated 14,000 resident doctors in tertiary hospitals who have been on strike were yesterday ordered replaced by the federal government.

The action came after many failed negotiations between the National Association of Resident Doctors (NARD) and the federal government over work condition, training and other welfare matters.

The intervention by House of Representatives Speaker Yakubu Dogara, also failed to get the doctors back to work.

Minster of Health Prof. Isaac Adewole, yesterday directed that they should be replaced with others from the pool of applicants for the training programmes in the various disciplines. READ MORE

Senators invite Attorney-Gen. over Saraki, Ekweremadu case

After about two-hour closed session, the Senate summoned Attorney General and Minister of Justice Abubakar Malami, to justify the forgery case against Senate President Bukola Saraki and Deputy Senate President Ike Ekweremadu.

The two and others are alleged to have forged the senate rule ahead of the election of principal officers in June last year.

The court summon, inviting Saraki and Ekweremadu over alleged forgery of Senate Rules, was pasted on the notice board in the Senate yesterday as it had been difficult to serve the officers. READ MORE

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VANGUARD NEWSPAPER

Supply gap in new forex market forces Naira down to N284/$

The new foreign exchange framework, which started on an impressive note, Monday, may have begun to face its first liquidity test — adequate and independent supply of foreign currency to the market.

Dealers, yesterday, said demand appeared to be outstripping supply, a development which forced Naira value to N284/ USD1.00, down from N281.85 it closed on Monday. READ MORE

Nobody in Nigeria can seize my property — Jimoh Ibrahim

The Group Chairman of NICON Investment Limited, Mr. Jimoh Ibrahim, said yesterday that nobody in Nigeria can seize his properties.

Ibrahim, who in a statement yesterday, was reacting to a report which said a Federal High Court sitting in Lagos, had given Assets Management Company of Nigeria, AMCON, an interim judgement to take over his firms over N50 billion debt, said: ‘’My attention has been directed to lies being spread around by an institution called AMCON over an interim order of injunction she had lied to collect before an innocent Federal High Court in Lagos. READ MORE

Fayose’s account: Call EFCC to order, PDP govs tell Buhari

The Peoples Democratic Party Governor’s Forum yesterday described the freezing of the personal accounts of Ekiti State Governor, Mr Ayodele Fayose by the Economic and Financial Crimes Commission, EFCC, as gross abuse of the constitution.

The forum, which spoke through its Chairman and Ondo State Governor, Dr Olusegun Mimiko has therefore called on President Muhammadu Buhari to call the anti-graft agency to order. This came as the Ekiti State House of Assembly faulted the move by the EFCC, saying it acted beyond its powers. READ MORE

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THE PUNCH NEWSPAPER

N4.7bn arms funds traced to Obanikoro, Fayose —EFCC

The Economic and Financial Crimes Commission on Tuesday said it had made a breakthrough in how over $15bn was siphoned from the account of the Office of the National Security Adviser during the administration of former President Goodluck Jonathan.

The EFCC, which has frozen the bank accounts of the Ekiti State Governor, Mr. Ayodele Fayose, and the account of a company, belonging to the two sons of a former Minister of State for Defence, Musiliu Obanikoro, said it had recovered evidence of the alleged illegal transactions from the banks. READ MORE

Buhari names Idris acting IGP

President Muhammadu Buhari on Tuesday appointed an Assistant Inspector-General of Police, Mr. Ibrahim Idris, as the acting Inspector-General of Police.

The appointment was contained in a statement made available to journalists by the President’s Special Adviser on Media and Publicity, Mr. Femi Adesina.

Idris succeeds Solomon Arase who proceeds on retirement after attaining the retirement age of 60 years. READ MORE

Finance ministry workers’ protest stops FAAC meeting

The protest by the workers of the Ministry of Finance, which entered the second day on Tuesday, prevented the meeting of the Federation Account Allocation Committee, which had been earlier scheduled to hold.

The workers, who shut all entrances to the headquarters of the ministry in Abuja over unpaid N1.2bn special overtime allowances, stayed out of their offices from 8am when they resumed work and vowed not to attend to any official assignment until the arrival of the Minister of Finance, Mrs. Kemi Adeosun.

As a result of the workers’ action, the FAAC meeting could not be convened as top officials of the ministry were denied access to their offices. READ MORE