Read today's newspaper headlines [Friday, June 15, 2016]

For today, June 10, 2016

THE PUNCHNEWSPAPER

Sex scandal: US govt cancels three Reps’ visas, Dogara orders probe

The Speaker of the House of Representatives, Mr. Yakubu Dogara, on Thursday, directed the investigation of three members of the House for an alleged sex scandal.

The Chairman, House Committee on Media and Public Affairs, Mr. Abdulrazak Namdas, confirmed this in Abuja just as investigations had shown that the United States Embassy had cancelled the visas of the affected members.

Namdas explained that the leadership of the House decided to investigate the alleged sex scandal following a formal complaint made by the US Ambassador to Nigeria, Mr. James Entwistle. READ MORE

Nine die in Lagos crash, mob burns truck

Tragedy struck at the University of Lagos Waterfront end of the Third Mainland Bridge, Lagos State, on Wednesday after a Mazda bus with number plate, AKD 292 XL, rammed into a stationary truck.

No fewer than nine people, including the bus driver, reportedly died on the spot.

Three other passengers, who sustained serious injuries, were said to have been taken to the Gbagada General Hospital, Gbagada. READ MORE

Buhari extends stay in London, returns Sunday

President Muhammadu Buhari will not return to Nigeria from London, where he is spending his 10-day medical vacation, until Sunday.

Vice-President Yemi Osinbajo disclosed this to State House correspondents on Thursday shortly before the commencement of a meeting of the National Economic Council at the Presidential Villa, Abuja.

Buhari’s 10-day vacation expired on Wednesday. READ MORE

-----------------------------------------------------------------------------

THE GUARDIAN

PDP governors insist Sheriff is out, supporters fight with machetes

The battle for the control of the national secretariat of the Peoples Democratic Party (PDP) became fiercer yesterday.

Two groups of protesting youths ‎were locked in a physical battle during which machetes, sticks and other dangerous weapons were freely deployed.

Meanwhile, the PDP has told a Federal High Court sitting in Port Harcourt that its former acting national chairman, Ali Modu Sheriff, was validly removed by the legally constituted May 21, 2016 national convention of the party in Port Harcourt. READ MORE

Naira in steady rally, gains 15k on new forex regime

Nigeria’s currency, the naira, yesterday continued to gain more value against foreign currencies a day after the Central Bank of Nigeria (CBN) released the details of the flexible policy for the management of the foreign exchange in the country.

Checks among Bureaux de Change ( BDCs) operators in Abuja indicated that the naira gained 15 kobo and 17 kobo respectively between Wednesday and yesterday following the apprehension and latter release of the details of the policy which restricted the market to a single window, thereby blocking opportunities for easy round- tripping and arbitrage by speculators .

Ahead of the takeoff of the interbank operations under the new regime of flexible exchange rate policy, there are indications that the naira float will terminate at N300 per dollar beginning from Monday. READ MORE

‘Why power supply can’t improve’

Faced with militants’ near-unrestrained successes in blowing up gas facilities in the Niger Delta, the Federal Government’s plan to add another 2000 megawatts (MW) by July may not be realised.

The Guardian learnt that militants have destroyed 23 gas pipelines across the Niger Delta states since they renewed attacks on national assets from February 14 to date.

Indeed, the shortage of gas supply to about 25 thermal stations in the country has critically impacted on power generation levels and further crippled power supply to consumers. READ MORE

-----------------------------------------------------------------------------

VANGUARD NEWSPAPER

Bloodbath: 11 gunned down as cult killings resurface in Rivers

At least 11 people were Wednesday gunned down at Omoku town, the headquarters of Ogba/Egbema/Ndoni Local Government Area, ONELGA, of Rivers State by suspected cultists, who invaded the area.

It was learnt that two people, including a popular medical doctor in the area, Dr. Erike, were kidnapped by the invaders during the raid. There has been series of killings in Omoku following the battle between two rival cult groups in the area, the Icelanders and the new Greenlanders. READ MORE

FirstBank, Zenith, UBA, GTB okay as FX dealers

As banks begin to settle into the dynamics of the flexible foreign exchange regime, which will take effect from Monday, the Central Bank of Nigeria, CBN, is set to name the lead players in the foreign exchange market today.

The lead players would be known as Foreign Exchange Primary Dealers, FXPD. Though CBN’s guidelines indicated that about eight or 10 banks would be registered as FXPD, Vanguard investigations showed that only about four banks are fully qualified, considering their audited financial positions as at end of 2015 and first quarter of 2016. READ MORE

Jonathan falls short of $5m Mo Ibrahim Prize

Former President Goodluck Jonathan has failed to win the prestigious $5 million Mo Ibrahim Prize for Achievement in African Leadership despite meeting a key criterion.

The announcement was made on Thursday that no former African leader met the requirements for the 2015 version of the yearly award following a meeting of the independent Prize Committee chaired by Dr. Salim Ahmed Salim. READ MORE

----------------------------------------------------------------------------------

THE NATION NEWSPAPER

N42b ‘fraud’: EFCC holds ex-Customs chief Dikko

Former Customs chief Abdullahi Inde Dikko is being held by the Economic and Financial Crimes Commission (EFCC).

He was yesterday quizzed over an alleged N42billion fraud.

Besides, the EFCC has traced how about N2.6billion was withdrawn from Nigeria Customs Service (NCS) coffers and remitted into the accounts of some companies floated by a former Assistant Comptroller General who served under Dikko.

Dikko was yesterday grilled on the sources of funds with which he allegedly acquired a N2 billion mansion at 1, Audu Ogbe Street, Jabi, Abuja. READ MORE

Naira, Capital Market firm up

The flexible exchange rate policy the Central Bank of Nigeria (CBN) announced on Wednesday has received massive support. It is due to go into effect on Monday.

The Naira and trading at the Nigeria Stock Exchange (NSE) firmed up yesterday in response to the policy.

The International Monetary Fund (IMF), the European Union (EU) delegation to Nigeria and the Lagos Chamber of Commerce & Industry (LCCI), among others, hailed the policy.

Lagos lawyer Olisa Agbakoba (SAN) supported the policy which he believes will bring naira back to its deserved value in addition to making foreign exchange available for those who need it. READ MORE

Buhari back on Sunday, says Osinbajo

Acting President Yemi Osinbajo yesterday said that President Muhammadu Buhari will return to Nigeria on Sunday.

Buhari had taken 10 days medical vacation to treat an ear infection in London.

The vacation expired on Wednesday and the President was supposed to resume yesterday based on the letter communicated to the National Assembly before he traveled out.

But speaking with State House correspondents before the National Economic Council (NEC) meeting began at the Presidential Villa, Abuja

Osinbajo said that it is best for the President to take the weekend off. READ MORE