Corruption: Reformation of NNPC is inevitable, says Buhari.

President Muhammadu Buhari on Tuesday at the Aso Rock Villa, Abuja told the President of the International Finance Corporation, Jin-Yong Cai that the reformation of the Nigeria National Petroleum Corporation has become inevitable owing to corruption and abuse of its present structure.

Buhari told the IFC boss that he would soon set up an inter ministerial committee to fast track the reorganization and reformation of the NNPC.

The Special Adviser to the President on Media and Publicity, Mr Femi Adeshina issued the following statement after the meeting.

“The President also cited Nigeria’s current need to maximise income from every source of revenue as a further imperative for reforming the NNPC.

“He said that his administration was doing everything possible to boost national revenue so that it can effectively implement its programme of change and significantly improve the living conditions of Nigerians."

Cai told Buhari that with proper reformation and re-organisation, NNPC could become Africa’s largest corporation .

“You have brought monumental changes since you got to power. You have brought in strong leadership and Nigeria has the opportunity under you to become highly reputable.

“In NNPC, you can create an entity that is dominant in Africa, and this is the right time to do it, with the momentum you have created,” he said.

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I'm not in Nigeria to negotiate a loan - Lagarde

The Managing Director of the International Monetary Fund, IMF, Christine Lagarde has allayed fears that she is in Abuja to negotiate a loan with the Federal Government.

The IMF boss who is on a four day official visit to Nigeria told State House correspondents after a closed-door meeting with President Buhari, Vice President Osinbajo and some ministers at the Presidential Villa, Abuja that she is not in the country to negotiate a loan with conditionality.

Also present at the meeting were the Minister of Finance, Kemi Adeosun; Minister of Budget and National Planning, Udo Udoma; Minister of Transportation, Rotimi Amaechi; and Minister of Works, Housing and Power, Babatunde Fashola.

Lagarde said that what Nigeria needs to become sustainable is fiscal discipline.

Her words:
“Let me make it clear that I am not here (in Nigeria) nor is my team in this country to negotiate a loan with conditionality.

“We are not into programme negotiations and frankly at this point in time, given the
determination and resilience displayed by the President and his team, I don’t see why an IMF programme will be needed.

“So of course, discipline is going to be needed, of course, implementation is going to be key for the objectives and the ambitions to serve the country well, in order for it to be actually sustainable.”

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EFCC Investigating PDP Spokesman Over Strange N1.4b In Firm's Account

Operatives of the Economic and Financial Crimes Commission, EFCC have traced N1.4b said to have been disbursed from the $2.1b arms procurement fund to a company in which the PDP National Publicity Secretary Chief Olisa Metuh has interest.

Feelers from the anti graft agency indicate that the account of the company, Destra Investment Ltd could be frozen in the course of the investigation.

In the meantime, the Commission has placed the company's activities and bank accounts under watch even as Metuh has been invited for a chat on certain issues.

So far, investigators have discovered some strange activities in the account. For example the company had N6, 676,576.06 as at November 24, 2014 in the account, but by December 2015, the balance had ballooned to N1.4b.

The strange deposits include :
N400million from the Office of National Security Adviser (ONSA) on November 24th, 2014; N253million ( December 2nd and 4th, 2014) from Ibrahim Kabiru whose identity was yet to be confirmed; N91million on 2nd December 2014 from Capital Field Investment; and N92million on 3rd December 2014 from Etonye Oyintoneife.

An inside source told THE NATION that Metuh would soon keep a date with the EFCC.

“We will invite Metuh any moment from now for clarifications on some of these transactions in this firm, which he allegedly owns.

“From our records, part of the $2.1billion arms cash has been traced to Destra Investment Limited. About N400million was transferred from ONSA to the company on November 24, 2014 which had a balance of N6, 676,576.06 only before major in flow from the ONSA.

“By December 2015, the owner of Destra had a turnover of over N1.4billion. There is no document  to show that the company executed any job for ONSA. All companies engaged by ONSA appeared before the initial Special Investigative Panel raised by the Presidency.

“Other documents indicated that Metuh was allegedly on a monthly unexplained stipend of N4million cash from ONSA.

“Out of the funds in Destra account, N25 million was paid to Abba Dabo, a former Senior Special Assistant Political to former Vice President Namadi Sambo on the 16th of December 2014.

“Also, about N21,776,000 was remitted on 4th December 2014 to an account allegedly belonging to a former Minister of Works, Chief Tony Anenih; N31.5 million to his media aide and N50 million to Metuh/Kanayo on the same transaction date.

“We have also established a link between Capital Field Investment and SEI Societe d’equipments Internanaux-Niamey-Niger BP 11737 which was  hired by ONSA to purchase  €3,654,121million security vehicles for the Republic of Niger in October 2013 and April 2014.”

Metuh has been accusing the Buhari administration of witch-hunting members of the opposition People's Democratic Party.

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Gunmen Abduct Abuja Housewife In Midnight Raid

A housewife in Dafa village in Kwali Local Government Area of the Federal Capital Territory, Abuja was over the weekend kidnapped by unknown gunmen in a midnight raid.

According to an eyewitness account, the gunmen stormed the community at about 12.30am shooting into the air and forcing the residents to scamper to safety.

The eyewitness said that the target of the night marauders was a businessman who runs building materials and veterinary shops in the area.

While the businessman was able to escape through the window, his wife was not so lucky as she was abducted by the gunmen who are now said to be demanding a ten million naira ransom for her release.

The Commissioner of Police in the FCT, Mr Wilson Inalegwu said that his men have started investigation into the attack but declined to confirm the demand for ransom by the kidnappers.

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Islamic Movement Demands El-Zakzaky's Whereabouts From FG

The Islamic Movement of Nigeria is worried about the whereabouts and conditions of its leader Sheikh Ibraheem El-Zakzaky and his wife.

They are complaining that three weeks after the arrest and detention of their leader, neither his immediate family members nor his Shiite followers have had access to him.

Read this statement issued by the Islamic Movement's President of Media Forum, Ibrahim Musa on Monday.

“The condition and whereabouts of the Islamic Movement’s leader Sheikh Ibrahim El-Zakzaky as well as that of his wife, are still unknown, three weeks after their arrest and detention by the Nigerian military.

“The Islamic Movement as well as the general public are now seriously anxious.

“ Where is Sheikh Zakzaky and why has he been denied his constitutional rights to an attorney, bail and visitation?

“If the government is truly interested in finding a peaceful way out of this crisis the army initiated and executed, as the government wants the public to believe, it should by now have allowed an unimpeded access to Sheikh Zakzaky.

“First and foremost, his first family members and leading brothers of the Islamic Movement and his doctor should have met him by now, since he was shot by the soldiers when they attacked his residence.

“We are highly agitated by this seeming needless incommunicado the Sheikh has been placed in.

“The Federal Government should tell the public where Sheikh Zakzaky is, because rumours of various degrees are flying about his health.

“We believe it is only when the Sheikh’s health condition is made public by the relevant authorities that the tension brewing among the populace will be doused.”

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Glo-CAF Awards 2015 : Marawa, Ibrahim are official comperes

SuperSports presenter and radio personality Robert Marawa and Ghanaian singer, actress and producer Juliet Ibrahim have been named as official comperes for the 2015 Glo-CAF awards.

Robert Marawa will be hosting the awards for the third time, having done so with Ghanaian ex-international Tony Bafoe at the 2011 edition in Accra and with Jocelyn Dumas at the 2014 edition in Lagos.

Marawa and Ibrahim are expected to add colour to the event at the International Conference Center, Abuja on
January 7, 2016.

Photo credit: thisdaylive.com 

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Buhari To Hold Talks With IMF Chief In Abuja.

The Managing Director of the International Monetary Fund, IMF, Christine Lagarde arrived Abuja on Monday on an official visit.

Lagarde is expected to hold talks with President Muhammadu Buhari on ways to solve the country's economic crisis which has largely been fuelled by the free fall in oil prices.

Reuters reports Lagarde as saying that she looks forward to her meetings with President Buhari and his team.

“I look forward to productive meetings as they address important economic challenges, most importantly the impact of low oil prices,”

Buhari's record budget of 6.1 trillion naira has a deficit component of 2.2 trillion naira.

Photo credits: Nduka Chiejina

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