CBN orders banks to give loans to agric, manufacturers at 9%

The Central Bank of Nigeria (CBN) will be refunding Cash Reserve Ratio (CRR) to banks that fund projects in agriculture and manufacturing sectors, its Director of Banking Supervision, Abdullahi Ahmad, has said.

Speaking yesterday at the end of the Bankers’ Committee meeting in Lagos, Ahmad said the outlook for the economy in 2018 is much better than 2017. The CRR is a portion of banks’ deposits kept with the CBN.

He said the CBN has been very supportive to banks adding that banks should be able to lend to companies that are doing new capital expenditures and expansions to factories using some of their Cash Reserve Ratio (CRR) at nine per cent. These, he added, are not short term loans but long term loans of seven year loans, two year moratorium on principal.

“It would probably be the first time in the history of this country where manufacturers would be able to take fixed interest rate loans for seven years which means they would be able to plan. The volatility that they fear for all kinds of risks would be taken out and I think these are very laudable steps in improving and growing the economy,” Ahmad said.

For him, the idea is to have job creating activities in the economy and also to bring interest rate down. Although agric and manufacturing are the initial sectors that are being considered, later on or now, a bank can apply if there is a job creating sector that bank is operating in, it may be considered.

“We can refund the CRR of a bank that has engaged in lending in a new project or an existing one in the agriculture or manufacturing sector as a way of utilising the CRR. So, anytime a bank lends to manufacturing or agric at the rate the CBN has prescribed, it would have its CRR refunded up to the amount it has lend. The guidelines are coming up any moment from now and once they do it take off,” he said.

Also speaking, Executive Director, Finance at First City Monument Bank (FCMB) Mrs. Yemisi Edun, said the CRR that is taken from banks would be positively deployed to grow the real sector as well as the agriculture sector in the economy. “This is very positive for the economy and also positive for banks because we would be able to access these funds and earn on it. And because it would be coming at single digit rate, it would be positive for the economy,” she said.

“For now, it would be channeled to agricultural sector and manufacturing but it for growth expansions enhance creation of jobs. the focus it ensure the economy grow now that we have achieved stability we need to now see a positive trend of growth and that is what we are committed to do at this time,” she said.

“We have seen stability in the exchange rate being sustained, Gross Domestic Product (GDP) growth higher than 2017 and although there are capital reversals in our capital market, it is a little bit bearish but the fact is that capital outflow in the Nigerian economy is far less compared to many emerging economies is a sign there is high confidence in the Nigeria economy,” Ahmad said. - The Nation

36 Predators !!! Probe of security vote: Governors hire lawyers to challenge EFCC

Governors under the auspices of the Nigerian Governors Forum (NGF) say they have hired lawyers to challenge the power of the Economic and Financial Crimes Commission (EFCC) to probe security vote of states.

Abubakar Badaru, governor of Jigawa state, disclosed this at the end of the monthly national economic council (NEC) meeting presided over by Acting President Yemi Osinbajo at the presidential villa, Abuja, on Thursday.

He said the issue was discussed by the governors in their meeting on Wednesday night, saying the lawyers had been instructed to investigate the case.

Earlier, Abdulaziz Yari, chairman of the NGF and Zamfara state governor, had condemned the way the anti-graft agencies have been handling the fight against corruption.

While speaking on the freezing of Akwa Ibom and Benue states government accounts by EFCC, Yari told reporters that even President Muhammadu Buhari will not support the action.

“We believe strongly that the government of President Muhammadu Buhari will not sit down and supervise this illegality in the system.

“What we are saying is that we all support the government to fight corruption because it is endemic and has suffered the nation for over six decades. Definitely, it was part of what we discussed.

“What we are saying now is that we are going to support the government in terms of what it is doing to fight corruption, but the due process must be respected in whatever action the agencies are going to take in the name of fighting corruption.”

On Wednesday, Tever Akase, spokesman of Samuel Ortom, governor of Benue state, told TheCable that the EFCC had asked the state to produce details of security meeting between 2015 and 2018.

The EFCC had accused Ortom of misappropriating security vote. - TheCable

My husband dumps me at night, sleeps with his fake aunt – Wife tells court

An Oke-Ogbere Customary Court in Ibadan on Thursday dissolved a three-year-old marriage between one Temilade Oyeyemi and her husband, Ayo Oyeyemi , over deception and adultery.

Temilade, 28, narrating her ordeal, told the court that her husband deceived her by presenting his concubine to her as his aunt.

“After I had pledged my future in marriage with Ayo three years ago, he completely deceived me that his concubine was his aunt.

“During the wedding, he introduced the same woman to my family as the only person that could stand in place of his late mother; and my family, unknowingly, accepted his deception.

“Ayo then took me to his mistress’s apartment to live,’’ she said.

Temilade said that the lady gave her all that she needed and she was happy living with the two secret lovers.

“However, I noticed that at around 1 a.m. on most days, Ayo would leave my side on our matrimonial bed.

“He would move to the floor where his secret lover he referred to as his aunt was sleeping to romance and have sex with her.

“He often would blame the hot weather for his usually reason for leaving my side to sleep on the floor.

“It then became clear to me that Ayo and that lady were never related but that they were, in fact, secret lovers.’’

Temilade said that when she was pregnant, Ayo never took care of her but he abandoned his responsibilities to his parents-in-law.

“Ayo is not trustworthy, he is a wicked man,’’ dissolve our union Temilade said.

The respondent, Ayo, 38, conceded to the dissolution of the marriage after he had denied some of the allegations leveled against him by Temilade.

Ayo, who claimed to be a building engineer, contended that his wife was a good-for-nothing and lazy woman.

“My lord, I am responsible for my cooking and washing; I have all along catered for Temilade’s needs,” Ayo said.

In his testimony, Ayo’s father, however, pointed out that his son was a terrible husband and a fornicator.

“Ayo never told anybody in the family about his wedding and we are surprised about how everything has turned out.

“No one knows the concubine he is parading as his aunt.

“In fact, Ayo has never taken care of me since I had an accident in 2010.

“I am praying this court to settle the matter for them,” Ayo’s father begged.

Some of Temilade’s family members in their separate testimonies presented evidence of how Ayo maltreated the petitioner and prayed the court to terminate the union.

Ruling, the court’s president, Mr Sulaiman Olaniyi, said, “In the interest of peaceful living, the union between Temilade and Ayo has ceased to be.

“Temilade shall take custody of the two-and-a-half-year-old child produced by the union while Ayo shall pay a monthly allowance of N3,000 for the child’s upkeep in addition to being responsible for his welfare.”NAN reports.

Olaniyi, who also held that no form of deception could last forever advised young men to take care of their parents so as not to incur the wrath of God. - Daily Post

I Sleep With My 13-Year-Old Daughter Because Of Her Beauty, Father Tells Court

A 53-year-old man, Promise Eshiet, yesterday told an Ogba Chief Magistrate Court how he has been sleeping with his 13-year-old daughter in the past three years.

The accused blamed his action on the devil, saying he was attracted by his daughter’s beauty.

Eshiet, who resides at Ogbeni Street in Sangotedo, Ajah area of Lagos, continually looked to the ground throughout the hearing.

He said he deflowered in 2015 when she was 10.

The prosecutor, Mr. Christopher John, said the defendant was the biological father of the victim and that the matter was a case of incest.

He said it was the daughter that made it known when she became tired of the trauma, leading to the arrest of the father, while the victim was rescued and sent to protective custody for rehabilitation.

The Presiding Magistrate, Mr. Peter Nwaka, ordered Eshiet to be remanded in prison, and directed the prosecutor to duplicate his file and send to DPP for advice.- Daily Trust

Again, customs intercepts container laden with military uniforms

The Nigeria customs says it has seized another container load of military wears in Rivers state.

Sanusi Umar, assistant comptroller general of customs, zone c, Port Harcourt, disclosed this in a statement on Thursday.
On July 28, the service seized a container carrying 11 bales, each containing 400 pairs of new set of military camouflage uniform totaling 4,400 sets.
According to Umar, about 620 sets of military uniforms and 10,100 military T-shirts were seized by operatives of the customs area II command Onne, in Eleme local government area of the state, recently.

He added that the prime suspect in the importation has been arrested and currently being interrogated.
“We have gathered here today to once more brief you on the ongoing investigation on container number MRSU 3040298 containing military camouflage uniforms and gears,” he said.
“After profiling the importer’s transactions, I am happy to inform you that we have arrested another container MRKU 4909151, (1×40ft) belonging to the same company, Ehiogocho Nigerian Limited with Mr. Ongwatabo Jerry as the prime suspect.
“On examination, it was found to contain, 620 set of completely sewn military camouflage uniforms and caps, 10,100 pieces of inner military T-shirts, 512 pairs of military jungle boots.

“The Mr. Ongwatabo Jerry is the sole importer that opens the form M for the importation of these two containers, let me inform Nigerians that importation of military wears by any individual or company is prohibited by Nigerian law under the customs and excise management acts (CEMA).” - TheCable

Vote buying: INEC to re-administer polling units

The Independent National Electoral Commission (INEC) will re-administer its polling units to prevent vote buying, INEC Chairman Prof. Mahmood Yakubu said yesterday.

He spoke during the presentation of Certificates of Registration to the 23 newly registered political parties at the INEC headquarters in Abuja.

Yakubu said the new polling unit structure would make it difficult for voters to display their ballot papers after marking them.

“The commission is deeply worried about our elections, particularly the way they are becoming increasingly monetised.

“Vote buying is a cancer to our elections and we must work together collectively to stamp it out.

“Accordingly, and on the part of the commission starting with Osun State Governorship Election coming up on Sept. 22, we will change the way our polling units are administered.

“It will be done in such a way that there will be no room for voters to expose their marked ballot papers between voting cubicles and the ballot boxes.

“We shall further re-strategise with the security agencies for a more robust response to the arrest and prosecution of vote buyers.

“We will also engage with all well-meaning groups for more effective voter education and voter sensitisation.’’

Yakubu said the commission had concluded arrangements to publish the notice for the 2019  general elections to kick-off activities.

“The formal commencement of 2019 general elections begins tomorrow, Friday Aug. 17, 2018, with the publication of Notice of Elections.

“Already, the commission has concluded arrangements for doing so in all our offices nationwide as required by law.

“This will be followed by the conduct of primaries beginning from Saturday, Aug. 18 to Sunday, Oct. 7, 2018.’’

Congratulating the 23 newly-registered parties, the INEC chairman said they could participate in the 2019 general elections, but not in the Osun governorship poll as the nomination process had closed.

“From today, you have equal status with any political party in Nigeria. This means that you can sponsor candidates for elections, including the 2019 general elections.

Yakubu said that the new parties had an obligation to respect their constitutions, members, abide by INEC guidelines and regulations, obey the Electoral Act and submit themselves to the Constitution of the Federal Republic of Nigeria.

“2019 General Election is only 183 days way from today.

“You should try and make a difference to politics and elective representation by conducting open, transparent, inclusive and peaceful primaries for the nomination of credible candidates for the elections.

“By doing so, you will give Nigerians greater choice, thereby adding value to our democracy and strengthening the quality of elective representatives,’’ Yakubu said.

Speaking on behalf of the new parties National Chairman of the African Action Congress Party, (AACP) Omoyele Sowore pledged that the new parties would bring changes to Nigeria’s democracy as well as rescue the country from the state of hopelessness.

Sowore urged the new parties to form a united forum that would develop the country’s democracy and defeat the old order.

“Nigerians need us badly; they need our commitment, conscience and most importantly our will to defeat the old order,’’ Sowore said.

Also yesterday, INEC directed political parties to update their membership registers and furnish the Commission with the updated register.

It warned against submission of names of people who did not participate in the primary as candidates.

Speaking at the 2018 annual Nigeria political parties Summit in Abuja, INEC National Commissioner in charge of political party monitoring, Prof. Anthonia Okoosi-Simbine, said parties have till September 15 to inform the commission of the proposed date for their primaries at all levels.

Prof Okoosi-Simbine added that peaceful election must begin with the conduct of transparent political party primaries, adding that “it has become increasingly obvious that Internal conflicts in political parties revolve around the contest for leadership positions and/or nominations to contest elective positions.”

He said INEC would monitor political parties primaries

Former INEC Chairman Prof. Attahiru Jega urged parties to build a strong democratic culture. He was chairman of the session. - The Nation

Abia prophetess arrested for allegedly selling one-day-old baby

The Police Command in Abia State has arrested a prophetess identified as Amarachi Chinedu for allegedly selling a one-day-old baby in Aba.

The Commissioner of Police, Mr Anthony Ogbizi, disclosed that the prophetess was arrested on Thursday alongside two others for their alleged involvement in the deal.

Ogbizi also stated that the suspect was arrested with the 17-year-old mother of the baby, Chinanu Monday, and the man who allegedly impregnated her, Promise Lazarus.

However, Chinanu told newsmen in an interview that she delivered the baby in the home of the prophetess and after the delivery, “They took the baby away and sold him.”

She said, ‘’I was not involved in the deal as I was not given any money and did not know the buyer and whereabouts of my baby.

“When I was pregnant, Lazarus took me to the woman and she took delivery of the baby in her home.

“After the baby was delivered, they took him away and sold him,”

Lazarus and the prophetess, however, denied the allegation and described the girl’s story as untrue.

Lazarus said, ‘’I met the girl in March, She told me in April that she was pregnant and I told her that I would come to her parents for introduction with drinks and kola nuts.

“Surprisingly, while I was making plans to visit her parents, policemen came to my house and arrested me, accusing me of child trafficking,”

The CP added that the prophetess denied the allegation, saying that the girl was never pregnant and could not have given birth to a baby.

‘’We are still investigating the matter and the suspects will be charged to court,’’ he said. - Daily Post

Fake NCE certificate scandal hits CoE Minna

A syndicate, made up of lecturers and students of the College of Education, CoE, Minna, Niger State, that specialised in the forgery and issuance of fake certificates has been uncovered.

Already three members of the syndicate, a lecturer and two students, have been arrested and handed over to the Police.

Speaking on the matter, Provost of the College, Professor Yakubu Auna, said to journalists in Minna yesterday, “We have beamed our searchlight towards the root of the scandal and because of the zero tolerance this College has for examination malpractices and other related problems, some of those behind it have been arrested and others will also be fished out, dismissed and handed over to the Police.

“My administration will make the College inhabitable for those in the habit of issuing forged certificates to students, because I will continue to wage war against them. I have drawn a battle line with whoever is involved in the fraud, no matter his position in the institution.

“As we speak, I have got two students and one lecturer that are behind issuing forged certificates to students. The lecturer and students, after our own preliminary investigations, were handed over to the Police.”

He said the syndicate was traced following the discovery of two 300 level students of Ibrahim Badamasi Babangida University, IBBU, Lapai, Niger State, who gained admission into the university with forged NCE certificates.

“My administration will make the College inhabitable for those in the habit of issuing forged certificates to students, because I will continue to wage war against them. I have drawn a battle line with whoever is involved in the fraud, no matter his position in the institution.

“As we speak, I have got two students and one lecturer that are behind issuing forged certificates to students. The lecturer and students, after our own preliminary investigations, were handed over to the Police.”

He said the syndicate was traced following the discovery of two 300 level students of Ibrahim Badamasi Babangida University, IBBU, Lapai, Niger State, who gained admission into the university with forged NCE certificates. - Daily Post

36 Predators !!! Governors on minimum wage: We weren’t elected just to pay salaries

Governors under the auspices of the Nigerian Governors Forum (NGF) say they were not voted into power to pay salaries alone but also to provide good roads, electricity, education and other necessary amenities.

They said this in response to the contentious issue of minimum wage implementation.

The governors called for the examination of the national income in the last 14 years to enable them reach a middle ground minimum wage.

The chairman of the NGF and Zamfara state governor, Abdulaziz Yari, said this was part of the discussion they had at a meeting on Wednesday night.

The committee working on the minimum wage is concluding negotiations on the matter. The federal government had set September for rolling out a new minimum wage for workers.

But the governors said they cannot perform any magic as funds are needed “for these things”.

The governors are insisting on the staggering of the implementation of the new wage if approved while the Nigeria Labour Congress (NLC) is proposing a minimum wage of N65,000 for workers.

Yari said it is regrettable that states governments have been limited to only paying of salaries while other sectors such as health, electricity, education, among others, are not given the same attention as salaries.

“We have a committee of six which represented us in discussions in the committee headed by labour minister,” he said.

“The committee is yet to give us the final report. When they give us the final report, for which they have our mandate to present our position, and the position most likely is to look at the record of up to 14 years.

“For instance, in global practice, in your income, how much are you spending as salary? So that we can start from there. They have given us interim report, that at the federal government level, over 82 percent is being spent on overhead which cannot move the country forward in terms of infrastructure development and development that we need now.

“So, on our own part, we are saying we are going to look at how our income are trained from our final account from 14 years ago so that we can come up and stay in the middle.

“I don’t think you people voted us for only to pay salaries. You are looking for good roads, electricity, education and others. So, we can’t do magic. It’s only when we have the funds do all those things.”

Yari said the governors also deliberated on the way the anti-graft agencies have been handling the fight against and resolved that they must adhere strictly on due process.

Speaking on the freezing of Akwa Ibom and Benue states government accounts by the Economic and Financial Crimes Commission (EFCC), Yari told reporters that even President Muhammadu Buhari will not support the action.

“We believe strongly that the government of President Muhammadu Buhari will not sit down and supervise this illegality in the system,” he said.

“What we are saying is that we all support the government to fight corruption because it is endemic and has suffered the nation for over six decades. Definitely, it was part of what we discussed.

“What we are saying now is that we are going to support the government in terms of what it is doing to fight corruption, but the due process must be respected in whatever action the agencies are going to take in the name of fighting corruption.” - TheCable

How to stop SARS’ brutality, by Falana

Human rights lawyer Femi Falana, SAN, has suggested ways to curb the excesses of police unit, the Special Anti-Robbery Squad (SARS).

He said the ongoing reorganisation of SARS will fail unless citizens are mobilised and empowered by the government, the Nigerian Bar Association and human rights community, to enforce their rights.

Falana recommended the prosecution of indicted SARS operatives, amendment of the Sheriff and Civil Process Act, greater use of the Administration of Criminal Justice Act (ACJA) 2015, among others.

He noted that the ACJA, in particular, if implemented, “can put an end to the atrocities of SARS and other law enforcement agencies.”

The lawyer made the recommendations in a paper titled: ‘How citizens can curb the excesses of SARS’.

Falana hailed Acting President Yemi Osinbajo for directing Inspector-General of Police (IGP) Ibrahim Idris to review the SARS’ operations,

but urged the police to ensure that indicted police officers were prosecuted and made to pay part of the damages awarded by the courts to victims of police brutality.

He praised the organisers of the #ENDSARS campaign “for forcing the Inspector-General of Police to embark on the reform of the SARS.”

“This must be complemented by the determination of the federal and state Attorneys-General to give fiat to victims of police brutality, to enforce judgment debts awarded by the courts against the Nigeria Police Force.

“Members of the armed forces should be removed from the SARS since it is the constitutional responsibility of the police to maintain law and order in a democratic society.

“Police personnel in the reconstituted SARS should be well trained, well-motivated and well equipped to deal with crimes in the society. In addition, the teaching of basic human rights ought to be made compulsory in the police academy and similar institutions.”

The lawyer noted that it was the duty of state governments, which fund the operations of the SARS, to monitor its activities and prevent it from violating the rights of the people in each state of the federation.

He said the National Human Rights Commission (NHRC) and the Office of the Public Defender (OPD) in each state should ensure that the excesses of law enforcement agencies are curbed.

According to him, the Nigerian Bar Association and the human rights community should embark on mass enlightenment of Nigerians with respect to the fundamental rights enshrined in the Constitution.

“They should also educate citizens on their basic rights under the Administration of Criminal Justice Act, 2015 and Anti Torture Act, 2017.”

Falana said in 2014, he received complaints pertaining to alleged disappearance of robbery suspects in police custody.

Said he: “In the course of investigating the complaints, our law firm found that no fewer than 532 robbery and kidnap suspects were arrested, detained and paraded at crowded news conferences addressed by police commissioners in all states of the federation. To my utter dismay, the majority of the suspects were illegally executed by the operatives of the SARS”

Falana advised the relations and friends of any suspect killed in police custody to press charges against the culprits.

“Where the identity of the culprits is not disclosed, an inquest should be conducted to identify them with a view to prosecuting them. The government should also be made to pay compensation to the families of suspects who are killed illegally in police custody,” he said.

Falana called on the National Assembly to repeal Section 84 of the Sheriff and Civil Process Act, which provides that a judgment creditor cannot garnishee the accounts of a public institution without seeking and obtaining the fiat of Attorneys-General.” - The Nation

Married mother of 5 dies after marathon sex with younger lover

Men of the Ogun State Police Command has arrested one Kelvin Micheal, 28, over the death of a 40-year-old woman, Monsurat Idowu after a bout of sex.

The Command’s spokesman, DSP Abimbola Oyeyemi disclosed this on Thursday in Abeokuta.

According to him, “the arrest of the suspect was as a result of complaint by one Benjamin Okereke of the State Hospital, Ota who reported that the suspect brought the deceased to the hospital dead, and since he could not explain the circumstance that surrounded the death of the deceased, he decided to notify the police”.

Oyeyemi also confirmed that the DPO, Onipanu Division, SP Sangobiyi Johnson led his men to the hospital where the man was promptly arrested.

“On interrogation, the suspect claimed to have met the deceased last month in a bus at Ketu, Lagos where they exchanged phone numbers, consequent upon which he invited her to the house of his friend in Ota where the deceased suddenly slumped and died shortly after they finished having sexual intercourse,” the police spokesman stated.

When contacted, Idowu Lamidi, the deceased’s husband who works as a commercial driver told the police that he left his wife in the house hale and hearty while going to work.

Meanwhile, the Commissioner of Police CP Ahmed Iliyasu has ordered the immediate transfer of the case to the Homicide Section of the State Criminal Investigation and Intelligence Department for discreet investigation; while the deceased’s corpse has been deposited at the mortuary for post mortem examination. - Daily Post

Man dies months after ‘losing’ FG employment that made him quit his job

When the National Pension Commission (PENCOM) offered Mustapha Ajiya a letter of employment in March 2017, his joy knew no bounds. With two months left to assume duty, he resigned from his former job and started making preparations towards starting a new career. Then, Ajiya got a telephone call from the organisation that assumption of the new employees had been postponed indefinitely on the orders of Aisha Dahir-Umar, acting director-general of the organisation.

The news didn’t go down well with the Zamfara indigene. He and his colleagues had written a recruitment test, done interviews and passed through screening processes from December 2016 to January 2017. They were finally employed.

According to his colleagues, when the waiting for assumption seemed endless, Mustapha became emotionally disturbed. Having made several efforts to prevail on the management of PENCOM to address their plight, Mustapha slipped into depression, which took a toll on his health. He died leaving a wife and two children behind.

Mustapha Sadiq, one of the affected recruits, narrated the experience.

“In line with our letter of employment, we were to resume duties on May 2 and 5 June 2017, respectively. However, to our surprise, prior to the date of resumption, we were informed via telephone calls that our resumption had been postponed indefinitely,” he said.

“Note that upon collection of our various letters of employment in March 2017 and the resumption dates stipulated therein, we resigned from our previous places of employment. As such we have been totally unemployed for over one year now. We have been unable to live up to our parental and financial obligations and as a result, we have been subjected to unreasonable psychological trauma.”

Those affected wrote a petition to Acting President Yemi Osibanjo, appealling to him to address the issue which is “fast taking its toll on us”.

In response to another letter written by the affected individuals, the office of the secretary to the government of the federation said the commission’s decision was based on the need to allow a review of the earlier recruitment exercise(s) and to ensure compliance with extant laws and due process.

A staff of PENCOM, however, said the acting DG deliberately misled the SGF as the employment was approved by board of the organisation following a due process in line with section 25 (2) (a) of the Pension Reform Act (2014).

He said, “The truth is that the acting DG is trying to use the same approval earlier given by the former exco and the federal character commission to bring in a different people.

“If they claim that the last batch of appointment was defective, it then means that the two previous batches of appointment were defective because they went through exactly the same due process.”

He added that instead of Dahir-Umar to look into the matter of the new recruit, she increased the severance/terminal benefits of herself and other the senior management staff by a 300 percent.

 Peter Aghahowa, spokesman of PENCOM, did not respond to calls and text messages by TheCable. - TheCable