10042019 - Politicians, traditional rulers aiding bandits — DEFENCE MINISTER


16Vanguard, WEDNESDAY, APRIL 10, 2019

LAUNCHING: From leftHead, MBA Programmes, Lagos Business School, LBS, Ifeyiuche

Chukwukelu; LBS MBA Marketing Manager, Ifeanyi Ajaebili; LBS MBA Director, Dr Uchenna Uzo and

Head, Corporate Communications, LBS, Aderayo Bankole, at the launch of Lagos Business School’s

Professional MBA in Lagos.

APC stalwart tasks Buhari on legacy, NASS


By Alemma Aliu


jostle for who occupies

leadership position in the

9th National Assembly and

preparation for the

inauguration of President

Muhammadu Buhari for a

second term gathers

momentum, a chieftain of

the All Progressives

Congress, APC, in Edo

State, Elder Matthew

Emiohe, has urged Buhari

to ensure he leaves a legacy

of a new Nigeria by the

time he finishes his second


Besides, he urged

Buhari to ensure he

showed interest in who

gets what at the National

Assembly to avoid the

mistake of 2015 where the

APC gifted leadership

positions to people who did

not share his vision for the


Speaking to journalists in

Benin City yesterday,

Emiohe who is also a

member of the Governing

Council of Ambrose Alli

University, AAU, Ekpoma

said Nigerians want the

president to be a father to

ther nation.

He said: "Buhari must try

in his second term to

establish himself as a man

who changed Nigeria for

good. He should be a man

who addressed the

problems of the economy,

a man that solved Nigeria's

security problems.

Nigerians want him to

take a stand on herdsmen

issue, to be a father to the

nation?, to look at things

holistically. Nigerians

want him to be greater

than the founding fathers

like Zik, Awolowo and

Sadauna," he said.

On the National Assembly

leadership, he said:

"We don't want a repeat of

what happened when

Saraki emerged Senate

President. The party

should embark on wide

consultation with all

stakeholders to produce

the leadership of the National


"The President must

take a stand so that we

don't have a Senate President

that will give him


On insinuations that

the APC may disintegrate

once Buhari exits after the

end of his second term, he

said that was not possible

as long as the party sticks

to its manifesto.

"As long as we have

good programmes to help

the country, we will continue

to win. People are

angry with PDP because

of what they did. They are

the one that will not survive,"

he said.

EU unveils 30m euros support

for Nigeria power sector

THE European Union (EU) has launched a 30 mil

lion Euro sustainable energy investment fund for offgrid

and captive power projects in Nigeria.

The fund will be granted to Renewable Energy, RE, developers

in the country, with a focus on the development

of off-grid as well as captive projects in the country.

Speaking during the 4th edition of Nigeria Energy Forum,

NEF, in Lagos, tagged: 'Upscaling Clean Energy for

Sustainable Development', the Head of Europen Union

Delegation to Nigeria and Economic Community of West

Africa States, ECOWAS, Mr. Ketil Karsen, said: "The EU

will be there to work alongside with Nigeria as partners in

this important challenge.

"Lack of access to modern, sustainable and affordable

energy service can reverse development and result in increased

inefficiencies at all levels.

"Looking at the Nigeria energy sector is absolutely vital.

Nigeria has a population growth, a lot of energetic

private sector initiative and entrepreneurs in the country.

"For the EU, this is another opportunity for us to show

how much support we are giving to this initiative. We have

put aside significant funding."

Bank of America to raise minimum

wage to $20 per hour by 2021

Bank of America Corp said yesterday it would

raise its minimum wage to $20 per hour over

a two-year period.

On May 1, the minimum hourly wage will rise

by $2 to $17, the bank said reut.rs/2Il5148.

Bank of America joins other Wall Street banks

that have raised hourly wages following U.S.

President Donald Trump’s move to cut corporate

tax rates in 2017.

JPMorgan Chase & Co has been raising hourly

wages to between $15 and $18 to pass on the benefits

of the tax windfall to employees. [reut.rs/


Bank of America raised its minimum wage to

$15 two years ago. The bank’s hourly wage has

risen by $4 since 2010, it said.

Standard Chartered to pay $1.1

billion for sanctions violations


ondon-based Standard Chartered Plc has

agreed to pay $1.1 billion to US and British

authorities for illegal financial transactions involving

Iran and other sanctioned countries, several

government agencies announced yesterday.

A former banker at the Dubai branch pleaded

guilty in New York state court in connection with

the conspiracy to violate sanctions, U.S. state and

federal authorities said.

A former customer of the bank’s Dubai branch

also was charged with participating in the conspiracy,

according to an indictment unsealed on

Tuesday in federal court in Washington, D.C.

The agreements resolve an investigation that began

some five years ago into Standard Chartered’s

banking for Iran-controlled entities in the city of

Dubai in the United Arab Emirates. The bank paid

U.S. authorities $667 million in 2012 for illegally

moving millions of dollars through the U.S. financial

system on behalf of customers in Iran, Sudan,

Libya and Myanmar. All credit to Reuters.

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