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Pulse brings you front page stories from Nigeria’s leading newspapers on a day-to-day basis.

Find out what is making headlines all over the country from the covers of The Punch, Vanguard, The Guardian and more.

For today, Monday, February 22 2016:

VANGUARD NEWSPAPER

Banks struggle with excess N1.5trn deposits
LAGOS — Excess liquidity in the banking system rose to about N1.24 trillion, last weekend, following huge backlog of unmet foreign exchange demand for which the Central aBank of Nigeria, CBN, returned the Naira back-up funds to the banks on Friday. READ MORE

Buhari in diplomatic shuttle to stabilise oil price
ABUJA — President Muhammadu Buhari jets out to Saudi Arabia and Qatar today to engage officials of both countries in further talks to ensure stability of oil prices. Nigeria, yesterday, agreed to freeze the country’s crude oil production at 2.2 million barrels per day this month, same as the level recorded in January, in a bid to address the declining price of crude oil in the international market. READ MORE

FG to tackle herdsmen over security threat —Dambazua
ASABA—Minister of Interior, Gen. Abdulrahman Dambazau (retd), weekend, said that the Federal Government would continue to tackle the security threat posed by Fulani herdsmen in the country. READ MORE

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BUSINESS DAY NEWSPAPER

PH, Warri, Kaduna refineries may become obsolete by 2018
Nigeria’s refineries will soon be faced with extinction if they are not immediately upgraded  in  the face of impending competition from  emerging ones, studies carried out  on the country’s refineries, pipelines and depots indicate. It is however estimated such upgrade would cost between $7 billion and $9billion for all existing refineries currently in the control… READ MORE

High networth individuals seek cover in fixed income to beat uncertainty – United Capital
United Capital Plc, a Nigerian-based financial and investment services company says its high networth clients are shunning equities and moving assets into fixed income to beat market uncertainty. “Most high end clients are playing the fixed income space due to the need for asset preservation and to its inherent liquidity,” Chief Executive Officer, Oluwatoyin Sanni… READ MORE

Nigeria backs Saudi oil freeze
Nigeria backed Saudi Arabia and Russia in freezing oil production while giving Iran and Iraq a way out to regain some of their lost market share due to sanctions and war. The biggest oil producer in Africa supports a production freeze, Nigerian Energy Minister Minister of Petroleum Emmanuel Kachikwu told reporters in Doha on Sunday…. READ MORE

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THE NATION NEWSPAPER

Jonathan’s ADC states role in N10b gift for PDP chiefs
Former President Goodluck Jonathan’s detained ex-Aide-de-Camp (ADC) Col.  Ojogbane Adegbe has passed the buck on the N10billion gift for Peoples Democratic Party (PDP) delegates. READ MORE

Olubadan to be installed March 4
The Olubadan-Designate, High Chief Saliu Adetunji, will be installed on March 4. Adetunji broke the news at the weekend when Juju music maestro Ebenezer Fabiyi Obey visited his Popoyemoja, Ibadan home. Adetunji said the date was arrived at after extensive consultations with stakeholders. READ MORE

EFCC begins probe of $2b Malabu Oil deal
The Economic and Financial Crimes Commission has initiated a discreet probe into the $2billion Malabu Oil deal to ascertain whether the country was short-changed. READ MORE

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THE PUNCH NEWSPAPER

EFCC links ex-CDS Badeh to N4.4bn NIMASA fraud
The Economic and Financial Crimes Commission has launched a fresh investigation into the alleged diversion of N4.4bn from the Nigerian Maritime Administration and Safety Agency into the accounts of top officers of the Nigerian Air Force. READ MORE

PDP: Wabara, Shagari, Juta ask Sheriff to resign
The new National Chairman of the Peoples Democratic Party, Senator Ali Modu Sheriff, has been asked to resign immediately. READ MORE

Corrupt persons in legislature, judiciary – Osinbajo
Vice-President Yemi Osinbajo has said that because of the level of corruption in Nigeria, he and President Muhammadu Buhari have been finding it extremely difficult to get right persons that could handle nation-building tasks for the present administration. READ MORE

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THE GUARDIAN NEWSPAPER

Govt diverts N813.6b to fund joint ventures
AS a further indication of the oil and gas sector’s loss of its status as the nation’s cash cow, the Federal Government’s revenue of $3.191 billion or N628.6 billion (at the rate of N197 per dollar) from exports in the industry, which was supposed to be retained from April to December 2015, has been used to meet Joint Venture (JV) Cash Calls obligation. READ MORE

For Mark, it’s victory on three fronts
FOR former Senate President David Mark, it was triple sweet victory yesterday .He was in the early hours of yesterday declared winner of the Benue South senatorial district rerun election by the Independent National Election Commission, (INEC) Returning Officer, Prof. Ishaku Eneji. READ MORE

Focus on technology as social media week opens in Lagos
SPURRED on by the successes of its three previous editions, Social Media Week (SMW) Lagos returns, from today till February 26, 2016, to explore the impact of technology across Africa and how it can be harnessed to stimulate socio-economic and cultural growth. READ MORE

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