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Monday, 08 August 2022 17:29

Kizz Daniel arrested in Tanzania

Popular Nigerian Singer, Kizz Daniel has been arrested in Tanzania.

The Buga crooner was seen in a video being walked into a Police van upon his arrest in far away Tanzania.

Sources alleged Kizz who was arrested for breach of contract and will be charged to court according to the country’s law.

He reportedly collected five thousand dollars and failed to perform at an event

Some persons suspected to be scavengers have killed a Policeman in Jikwoyi area, along the Nyanya-Kurudu Road in the Abuja Municipal Area Council (AMAC) of the Federal Capital Territory (FCT) Abuja.

The slain policeman’s rifle was also carted away by the assailants.

The incident according to residents occurred in the early hours of Monday, resulting in the traffic gridlock witnessed along the road.

Our reporter observed that Policemen were mobilised to the scene to confront the scavengers, who live in makeshift shanties in the area.

Speaking to LEADERSHIP, the Divisional Police Officer (DPO) in Jikwoyi Division, CSP Chidawa Mathew Daniel, in a telephone chat, said he was involved in another operation and will get back to our reporter with the details of the incident.

Also, a resident of the area, who did not want his name mentioned, spoke on the the chaos that ensued in the area, adding that normalcy has, however, been restored.

 

“Those scavengers killed a police officer last night and carted away his gun. So police came this morning to raid the place and even set the place ablaze. But normalcy is gradually returning there,” he explained.

He expressed worry that the location where the scavengers have set up shanties has become a deadly spot and hideouts for nefarious activities.

[LEADERSHIP]

The Federal Government’s plan to borrow about N720 billion through FGN bond auctions in the third quarter, Q3’22, has come under fresh threat following  increasing investors’ appetite for higher yields triggered by the adoption of  tight monetary policy of the Central Bank of Nigeria, CBN.  

Recall that the CBN, in response to the five consecutive months rise in inflation rate to 18.6 per cent in June, launched a tight monetary policy regime May, 2022, raising the Monetary Policy Rate, MPR,   first by 150 basis points to 13 per cent in May and again by 100 basis points to 14 per cent in July. 

This development effectively spurred increases in money market yields while intensifying investors’ appetite for higher returns across all instruments in all segments of the market. 

Consequently, the first under-subscription was recorded in  FGN bond auction this year, as the auction held in July recorded 37 per cent under subscription and as a result, Debt Management Office, DMO could not achieve its sales target. 

According to the FGN bond auction calendar for Q3’22 released by the Debt Management Office, DMO, the FG plans to raise between N630 billion and N720 billion during the quarter. 

The calendar shows that  the FG, through the DMO, seeks  to raise between N210 billion and N240 billion in each of the three months in the quarter, through subscription in three tranches of 10-year, 10-year, and 20-year original tenor respectively.

But the N225 billion FGN bond offered by the DMO at the July auction recorded 37 per cent under subscription as total subscription stood at N142 billion.  

Though the 20-year bond, 13.00% FGN JAN 2042,  recorded 40 over subscription, as subscription stood at  for N104.92 as against N75 billion offered by the DMO, the 3-years    13.53% FGN MAR 2025 and 10-years 12.50% FGN APR 2032, recorded 84 per cent and 66 per cent under subscription respectively, as subscriptions stood at N11.75 billion and N25.62 billion respectively as against N75 billion offered for each bon tenor. 

Consequently, the DMO could only achieve total sales of N123.9 billion, representing 45 per cent of its target for the month.

This was in spite of slight increases in the interest rates on the bonds offered by the DMO. 

The auction results showed that the DMO raised the marginal rates for the 3-year, 10-year and 20-year bonds  to 11.0 per cent from 10 per cent, 13.0 per cent from  12.5 per cent and 13.7 per cent from  13.2 per cent  respectively in the June auction. 

  Analysts’ insight

Investment analysts however noted that for the DMO to attract investors to future auctions it would have to offer higher rates given the inflation rate of 18.6 per cent and MPR at 14 per cent. 

While noting that in spite of the impact of scarcity of funds and increasing appetite triggered by the CBN’s tight monetary policy, on future bond auctions, they expect the DMO to meet its funding target of N3.53 trillion to finance the projected deficit of N7.35 trillion  in the FGN’s 2022 budget.

Speaking in this regard, analysts at FBNQuest Securities, associated company in the First Bank Group, said: “The total amount raised by the DMO this year amounts to N1.7 trillion. If we include sales based on non-competitive allotment, the gross amount rises to N1.96 trillion. This excludes smaller sums raised via other instruments including Sukuk and the FGN savings bond.

“Despite the DMO’s disappointing outing, the sum raised so far by the agency suggests that it is broadly on track to raise its total domestic funding target of N3.5 trillion (including the additional borrowings of N965 billion following revisions to the budget).

“However, the tight liquidity conditions in the market may continue to negatively affect demand at auctions in the near term.

“There are tougher credit conditions on the international market following monetary policy tightening by most central banks globally. This may force the FGN to turn to the domestic market to source some of the N2.6 trillion in external borrowing highlighted in the 2022 budget.

“The last resort would be for the fiscal deficit to become unfunded, or in other words, funded by ways and means advances from the CBN.

“Given the tight liquidity conditions in the market, we see yields inching up by around 25-50bps across the curve over the coming weeks.”

Similarly, analysts at United Capital Plc, associated company in the First Bank Group, said: “In line with our expectations of an uptick in the yield environment in the sovereign bonds market, marginal rates across all the tenors climbed 90bps, 50bps, and 60bps to print at 11.00%, 13.00% and 13.75%, respectively. Investors opted toward a more relaxed approach in the auction, demanding higher yields, as the expectation of inflation, interest rates, and political risks all begin to crystalise. These follow persistent inflation, monetary policy normalisation globally and the increased perception of political risk as we approach the electioneering season.

“We expect a continued uptick in marginal rates at subsequent bond auctions, as we believe investors will remain standoffish. The DMO will need to reel in higher rates to attract fund managers’ interests. 

“Also, the recent hawkish stance adopted by the CBN, hiking rates by 250bps in total (100bps at July’s MPC meeting), will drive investor’s appetite for increased rates. 

“Notwithstanding, we maintain the FG’s apparent need to rely on the domestic debt market to fund its fiscal imbalance, as external debt market conditions remain unfavourable.   These factors will further impetus for shifting pricing power away from the FGN/DMO and into the hands of private sector asset managers.”

[VANGUARD]

A mammoth crowd trooped out to stage a one million march in support of the presidential candidate of the Labour Party (LP), Peter Obi and his running mate, Yusuf Datti Baba-Ahmed in Nasarawa state capital, Lafia on Saturday ahead of the 2023 general elections.

The State chairman of the party, Alexander Emmanuel said the one-million-man march was to sensitise the people of the state on the necessity to vote for credible leaders in next year’s elections as well as send a signal to other political parties who claimed the Labour Party does not have a structure.

Speaking on the march, Obi said it was a symbol of an unwavering obligation of Nigerian youths to rescue Nigeria from bad governance.

Obi expressed this on his verified Twitter page on Sunday, while commending the traders, commuters, artisans and other Nigerians that came out for the march.

He said: “I am sincerely encouraged by the unwavering commitment of Nigerian youths to the OBIdient movement, aimed at rescuing the nation from bad governance.

“The recent 1 million march, recently embarked on by OBIdients in Nasarawa State is very well appreciated by the OBIdient family. It’s a great step towards taking back our country.

“Just like them, I deeply appreciate every Nigerian who has continued to labour in our country, for the good of the nation. I assure you that our labour will never be in vain.”

Meanwhile, human rights activist, Deji Adeyanju has reacted to the march saying Obi cannot win one-half of a local government area in the presidential election scheduled for Saturday, February 25, 2023.

Adeyanju, a chieftain of the Peoples Democratic Party, (PDP) who has said he will not support any presidential flagbearer also claimed Nigerians that took to the streets for the march were paid.

He said this on his verified Twitter handle on Sunday.

Adeyanju tweeted: “Sorry to break your hearts guys but Peter Obi won’t still win even half of an LGA in Nasarawa after the rally yesterday. You will be shocked that 90% of those who came out to protest yesterday did so because someone paid them and they won’t vote for him. Vawulence dropped, bye.”

The convener of Concerned Nigerians has always advocated for the collaboration of other presidential parties against APC and PDP.

[VANGUARD]

Renowned socialite, Eze-Nwalie Nwogu, popularly known as Pretty Mike of Lagos stormed an event with fake bishops appearing in priestly garb in a viral video.

According to the video posted by Pretty Mike of Lagos on his verified Instagram page on Saturday, the phony clergy was avoiding camera and declined to comment as someone behind the camera was asking “Are you men of God? Will you like to speak to Nigerians?”

The video portrayed itself as an imitation of what played out in July at the official presentation of Senator Kashim Shettima as the running mate of the presidential candidate of the All Progressives Congress (APC), Bola Tinubu. 

The video was accompanied with a message urging Nigerian youths not to sell their votes in the 2023 general elections.

He said, “Our fathers choose to believe and accept their lies.

“Most of your fathers were the foundation of vote selling and ballot box looting. Enough of who is to blame.

“2023 let’s be the generation of ‘lazy youths’ that will deliver this nation from bondage. #Don’tSellYourVote. #DrPrettyMike.”

[VANGUARD]

The presidential candidate of the Labour Party (LP), Peter Obi on Monday held a town hall meeting in Birnin Kebbi, Kebbi state to woo voters in the state and further strengthen the campaign of Obi/Datti movement.

The gathering with a huge number of followers across tribes and religions was attended by the National Secretary of LP, Umar Faruk Ibrahim, officials of Nigeria Labour Congress (NLC) Kebbi state, youth movements for Obi and candidates of Labour Party and their executives. 

Speaking at the occasion, the chief host who is the state chairman of NLC Kebbi state said that, the party has come to rescue Nigerians from the current state of the nation, as he added that LP belongs to NLC.

Labour Party targets over 50m votes, woos Kebbi electorates – The Sun  Nigeria

Peter Obi movement shuts down Kebbi, targets 150million votes - Vanguard  News

He also stated that since the party belongs to organised labour, it, therefore, knows no religion and tribe. 

While welcoming the national leaders of the party, comrade Umar Halidu assured them of his chapter’s support and the Obi/Datti movement in Kebbi state.

In his speech, Ibrahim said that they were in Kebbi to sensitise the people of the state on the need for them to vote for the right candidate noting that what is happening in the country knows no religion or tribe “so people should close ranks and vote the right person not minding his religion or tribe ” we are happy with the reception we received in Kebbi and it shows Labour Party is alive in Kebbi, we saw Igbos, Hausas and other tribes. 

On what Peter Obi will do differently, the LP national scribe said Obi government if elected will, first of all, stabilise the country and ensure there is a responsible government in place for all Nigerians devoid of nepotism, saying when that is achieved everything will settle including the economy, security and all other sectors in the country will breathe in life.

He explained that out of the 89million votes expected, LP will take at least 70% to 80℅ which means victory “we need a country where every citizen will sleep with his eyes open, a country where every child will go to school rich or poor families.”

[VANGUARD]

President Muhammadu Buhari has consented to the acquisition of Exxon Mobil shares in the United States of America by Seplat Energy Offshore Limited.

The Special Adviser to the President on Media and Publicity, Femi Adesina, in a statement on Monday, said the President gave his approval in his capacity as Minister of Petroleum Resources, and in consonance with the country’s drive for Foreign Direct Investment (FDI) in the energy sector.

Exxon Mobil had entered into a landmark Sale and Purchase Agreement with Seplat Energy to acquire the entire share capital of Mobil Producing Nigeria Unlimited from Exxon Mobil Corporation, Mobil Development Nigeria Inc, and Mobil Exploration Nigeria Inc, both registered in Delaware, USA.

“Considering the extensive benefits of the transaction to the Nigerian Energy sector and the larger economy, President Buhari has given Ministerial Consent to the deal.

“The President, in commitment to investment drive in light of the Petroleum Industry Act, granted consent to the Share Sales Agreement, as requested by the parties to the transaction, and directed that the approval be conveyed to all the parties involved.

“Exxon Mobil/Seplat are expected to carry out operatorship of all the oil mining licenses in the related shallow water assets towards production optimization to support Nigeria’s OPEC quota in the short term as well as ensure accelerated development and monetization of the gas resources in the assets for the Nigerian economy. 

“President Buhari also directed that all environmental and abandonment liabilities be adequately mitigated by Exxon Mobil and Seplat,” Adesina said.

[LEADERSHIP]

Former Governors of Plateau and Taraba states, Joshua Dariye and Jolly Nyame have been released from Kuje Prison where they we’re serving various jail terms for sundry offences as governors.

Three others whose identities could not be immediately ascertained were also released from Suleja Prison in Niger State. 

Vanguard recalls that the Council of State, led by the President Muhammadu Buhari (retd.) had on April 14 approved the pardon of 159 convicts including Dariye and Nyame who were separately convicted for stealing N1.16bn and N1.6bn respectively.

Both men were convicted by Justice Adebukola Banjoko of the Federal Capital Territory High Court in 2018. 

Dariye, who was governor from 1999 to 2007, was jailed for laundering public funds to the tune of N1.162bn and was sentenced to 14 years in prison by Justice Banjoko who has since been elevated to the Court of Appeal.

However, his prison term was later reduced to 10 years by the appellate court in Abuja while his conviction was affirmed by the Supreme Court. 

On his part, Nyame who was governor of Taraba State from 1999 to 2007, was sentenced to 12 years in prison for stealing N1.6bn. The case went up to the apex court which affirmed his conviction.

Delayed release 

Spokesman of the Federal Capital Territory FCT Command of the Nigeria Prisons Service, Humphrey Chukwuedo when contacted confirmed the release of both men.

Asked why they were not released since April, the spokesman said the Service could not just release them based on verbal pronouncements.

“There was a process of documentation when they came. We received certain written instructions to that effect. So, we could not just release them without also receiving written instructions to they effect. It is a procedure”, he stated.

Attorney General and Minister of Justice, Abubakar Malami had in April told journalists that the council approved 159 out of 162 applications presented for consideration for the prerogative of mercy for convicts and inmates in prisons.

He however added that the council rejected a proposal to grant pardon to one of the prisoners sentenced to 120 years for theft of over N25bn, even though the pardon was sought on health grounds.

[VANGUARD]

…advises Nigerians to vote for Atiku

 

Former aide to former president Goodluck Jonathan, Pastor Reno Omokri has advised Nigerians to vote for the candidate of the Peoples Democratic Party, PDP, Atiku Abubakar, in the forthcoming presidential election.

Reno disclosed this in a statement on his facebook handle. He alleged that the candidate of Labour Party, LP, Peter Obi, would be impeached if he eventually wins the election.

He noted that Obi would not last if he does not have senators from his party in the senate.

Reno who is the number one best-selling author, equally said that Peter Obi and his running mate, Datti Baba-Ahmed were products of PDP and were Atikulating in 2019. He expressed optimism that the duo would return back to PDP.

His words: “Both Peter Obi and Datti Baba-Ahmed are PDP products. Both of them were Atikulating in 2019. PDP is their natural home. They are just on sabbatical. After sowing their wild oats in Labour, they shall return, and we will welcome them. Even if you are Obidiently Yusful, still be Atikulate and vote Atiku!

“We love Obidients in PDP. You are like our grandchildren. We gave birth to Peter Obi and Yusuf Baba-Ahmed, and they gave birth to you. A stream cannot deny its source. You guys are the stream, and we are the river that feeds you.

“In fact, Obidients should vote for Atiku,  because even if they vote for Peter Obi and he becomes President, which is very unlikely to happen, he won’t last on that seat without having Senators in the Senate. He could be impeached within days of being sworn in.”

[VANGUARD]

One of the spokespersons of the 2023 Atiku Presidential Campaign, Barrister Daniel Bwala, has said that the Kaduna State governor, Nasir El-Rufai, will eventually join the opposition Peoples Democratic Party (PDP) before the 2023 general elections.

 

El-Rufai

 

Bwala, who made the claim on Monday via his verified Twitter handle, said his attention was drawn to a scenario where Governor El-Rufai was laughing about a comment made about him (Bwala) on a past video.

 

Recall that Bwala, who was an aide of the Deputy Senate President, Ovie Omo-Agege, recently quit the position and defected to the Peoples Democratic Party (PDP) from the All Progressives Congress (APC) in protest over the latter’s choice of a Muslim-Muslim presidential ticket. 

While in APC, Bwala made alot of TV appearances where he harshly criticised the opposition PDP, his new party.

Just last week, Bwala alongside a vocal former federal lawmaker, Senator Dino Melaye, was appointed as spokesperson of the Atiku Presidential Campaign for the 2023 Elections.

 

The Atiku Presidential Campaign spokesman, however, said he won’t join issues with the Kaduna State governor because the latter will end in their camp before 2023.

Bwala wrote: “My attention was drawn to @elrufai laughing at a comment made about me on my past video.

“Hmm @elrufai is one of the finest we have from the north, I will never join issues with him, especially because I am optimistic he will be with us before the 2023 elections.”

[LEADERSHIP]

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