03092019 - FG weighs options as another $2.3bn fine looms
Vanguard Newspaper 03 September 2019
Vanguard Newspaper 03 September 2019
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16—Vanguard, TUESDAY, SEPTEMBER 3, 2019<br />
LUNCHEON: From<br />
left;Lion Abdulganiyu<br />
Adediji, Multiple<br />
Council Chairperson,<br />
International<br />
Association of Lions<br />
Clubs; Lion Lekan<br />
Babalola, immediate<br />
p<strong>as</strong>t District Governor,<br />
District 404B 1; Lion<br />
Eboreimo Bernard,<br />
District Governor,<br />
District 404B 1 and his<br />
wife Linda Eboriemo<br />
during the public presentation<br />
and fund raising<br />
luncheon for Lions<br />
projects held in Ikeja,<br />
Lagos.<br />
How Oshiomhole rescued Benin, by Esogban<br />
By Alemma Aliu<br />
BENIN CITY—THE<br />
Esogban of Beni<br />
Kingdom, Chief David<br />
Edebiri h<strong>as</strong> lauded the<br />
national Chairman of the<br />
All Progressives Congress,<br />
Comrade Adams<br />
Oshiomhole describing<br />
him <strong>as</strong> his son who did not<br />
not disappoint him when he<br />
w<strong>as</strong> governor of Edo State.<br />
Edebiri stated this while<br />
making remarks to mark<br />
his 90th birthday which the<br />
celebration formally ended<br />
yesterday.<br />
OMPALAN counsels Ihedioha over loot recovery<br />
By Emmanuel<br />
Elebeke<br />
PORT HARCOURT—AS<br />
the disagreement between<br />
the Imo state Governor,<br />
Hon. Emeka Ihedioha<br />
and his predecessor, Sen.<br />
Roch<strong>as</strong> Okorocha over<br />
some looted funds and<br />
property takes dangerous<br />
dimension, the chairman of<br />
Imo State caucus of the Oil<br />
and Solid Minerals<br />
Landlords’Association of<br />
Nigeria, OMPALAN,<br />
Bishop Udo Azogu h<strong>as</strong> advised<br />
the state Governor to<br />
thread with caution on the<br />
ongoing recovery of Government<br />
property allegedly<br />
under the custody of<br />
Senator Roch<strong>as</strong> Okorocha<br />
and his family members.<br />
In a statement on Sunday,<br />
Bishop Azogu said<br />
since the Governor had<br />
petitioned the two anti-graft<br />
agencies viz: the ICPC and<br />
Oshiomhole had praised<br />
Chief Edebiri for adopting<br />
him <strong>as</strong> a son and<br />
supporting his emergence<br />
<strong>as</strong> governor and promised<br />
he would use any<br />
available opportunity to<br />
empower people from Benin<br />
Kingdom and the state in<br />
general.<br />
Edebiri said "Before his coming<br />
<strong>as</strong> governor, Benin City w<strong>as</strong> a<br />
large village community but<br />
when Oshiomhole became governor,<br />
he brought life, he brought<br />
civilisation because Benin for the<br />
first time know what is called<br />
EFCC to investigate the<br />
former Governor of Imo<br />
State and members of his<br />
family, which have commenced<br />
ernest investigation<br />
on the strength of the<br />
petitions before them, the<br />
onus lies on the Governor<br />
to allow the anti-graft<br />
agencies do their job and<br />
come out with their verdict.<br />
It will be recalled that the<br />
EFCC had questioned<br />
Avwenaghagha emerges 1st President<br />
of Rotary Club of Saba Gateway<br />
By Festus Ahon<br />
ASABA—A Director in<br />
the Delta State<br />
Ministry of Oil and G<strong>as</strong>,<br />
Mr Aweka Avwenaghagha<br />
h<strong>as</strong> been elected <strong>as</strong> first<br />
President of the Rotary<br />
Club of Asaba Gateway,<br />
District 9141 with a promise<br />
to embark on projects that<br />
would add value to human<br />
walkways.<br />
"He constructed superior roads,<br />
roads that will l<strong>as</strong>t many many<br />
years. In my own c<strong>as</strong>e, the road<br />
that he constructed along my<br />
street, German contractor told me<br />
that it is 50 years guaranteed if<br />
maintained. He did not disappoint<br />
me <strong>as</strong> a governor"<br />
Oshiomhole had in a speech<br />
recalled how Chief Edebiri before<br />
the l<strong>as</strong>t general elections helped<br />
solved problems within the APC.<br />
He said "Chief Edebiri speaks<br />
truth to power, never afraid, never<br />
bending it, it doesn’t have to be<br />
convenient, he simply says it. I<br />
Sen. Okorocha, his wife and<br />
daughter resulting in the<br />
sealing off of a sizable portion<br />
of their v<strong>as</strong>t properties<br />
in Imo State.<br />
The OMPALAN chairman<br />
noted that the security<br />
situation in Imo State is<br />
spiraling out of control,<br />
hence the need for caution<br />
by all sides to the imbroglio.<br />
He called on the Governor<br />
to disband immediately the<br />
lives.<br />
The installation of<br />
Avwenaghagha who is also the<br />
sole candidate of Odukpor ruling<br />
House for the position of Ovie of<br />
Idjerhe clan in Ethiope West local<br />
government area, w<strong>as</strong> performed<br />
by the Charter President,<br />
Rotarian Adekola Abiodu, supported<br />
by the District Governor<br />
nominee, Rotarian Andy<br />
N-Delta group lauds Buhari on signing<br />
of electricity contract<br />
By Elizabeth<br />
Uwandu<br />
PORT HARCOURT—<br />
FOLLOWING the<br />
recent signing of an<br />
electricity contract with the<br />
German company, Siemen<br />
to put an end to the<br />
perennial electricity crisis in<br />
the country, the Joint<br />
Association of Niger Delta<br />
Youth Forum, JANDYF h<strong>as</strong><br />
applauded President<br />
Muhammadu Buhari,<br />
describing the feat <strong>as</strong> a<br />
forever achievement.<br />
Stating the need for all<br />
Nigerians irrespective of political<br />
party affiliation to support the<br />
president on the bold step taken<br />
to end decades of electricity<br />
calamity in the country, the<br />
group said with the signing of<br />
the contract with a reputable<br />
German firm believed to be one<br />
of the best electricity solution<br />
provider in the world, it h<strong>as</strong><br />
become more obvious the good<br />
intention of the president to<br />
develop or build a new Nigeria<br />
of quality infr<strong>as</strong>tructure.<br />
In a separate statement, the<br />
National President and Legal<br />
Adviser of the group, Hon Mark<br />
Wariota Ikpuri and Barr<br />
Olushola Iyogun, who spoke to<br />
our correspondence at the end<br />
of its leadership committee<br />
meeting in Benin, Edo State, said<br />
the group h<strong>as</strong> watched the other<br />
events of the government, the<br />
cleanup of Ogoni in Rivers State,<br />
construction of the second Niger<br />
bridge, appointments from the<br />
Niger Delta and come to the conclusion<br />
that the president is a<br />
man who truly wants to bring the<br />
country out of the woods.<br />
Explaining that the group is a<br />
sociopolitical <strong>as</strong>sociation that<br />
embraces members of different<br />
political parties and non-politicians<br />
alike, Ikpuri said it’s aimed<br />
at providing support services to<br />
government in terms of idea generation<br />
just <strong>as</strong> he cited some of its<br />
p<strong>as</strong>t proposals to government, the<br />
proposal for the creation of Niger<br />
Delta Ministry with the Office of<br />
Special Adviser to the president<br />
on amnesty attached to it.<br />
am forever indebted to the Omo<br />
N’Edo Uku Akpolokpolo, the institution<br />
of the Oba of Benin,<br />
the paramount traditional ruler<br />
of Edo land. You guided me, you<br />
prayed for me and by the grace of<br />
God I left without issues. I remain<br />
committed everything that<br />
is within my discretion to do to<br />
uplift this great kingdom and uplift<br />
and creat opportunities for men<br />
and women of this kingdom I owe<br />
it <strong>as</strong> irreducible minimum duty<br />
to do so because this kingdom<br />
h<strong>as</strong> been great, this kingdom h<strong>as</strong><br />
been kind and generous to me."<br />
J<strong>as</strong>per Ndubuaku committee<br />
for recovery of Government<br />
property for what he called its<br />
lawless behaviour in order to halt<br />
the state’s imminent collision<br />
course with anarchy.<br />
He pointed out that the recovery<br />
of Government property<br />
committee appears to be doing<br />
a hatchet job against the immediate<br />
p<strong>as</strong>t Governor of Imo<br />
State, Owelle Roch<strong>as</strong><br />
Okorocha and his family.<br />
Uwejeyan, amid cheers from<br />
other Rotarians, friends, family<br />
members and well wishers.<br />
The elated Rotarian Aweka<br />
Avwenaghagha, who is the<br />
Director of local content and<br />
promotion, Delta State Ministry<br />
of Oil and G<strong>as</strong> and a fellow of the<br />
Institute of Chartered Mediators<br />
and Conciliator, said he would<br />
vigorously pursue the core<br />
mandate of rotary club<br />
international which is giving help<br />
to the needy in the society.<br />
Rotarian Avwenaghagha who<br />
highlighted some projects he<br />
intends to embark upon within<br />
this rotary year, appealed to<br />
colleagues and well wishers to<br />
fellowship with him to actualize<br />
the dream.,<br />
He said he will concentrate<br />
more on the rotary foundation of<br />
complete eradication of polio in<br />
the society which h<strong>as</strong> remained<br />
the flagship project of rotary<br />
international.<br />
The District Governor<br />
nominee, Rotarian Andy<br />
Uwejeyan who also delivered a<br />
goodwill message from the Delta<br />
State Commissioner, Ministry of<br />
Oil and G<strong>as</strong>, Chief Emmanuel<br />
Amgbadugha, <strong>as</strong>ked all to<br />
embrace the work of rotary clubs<br />
<strong>as</strong> putting smiles on the face of<br />
others is a divine responsibility.<br />
Deutsche CEO to invest 15%<br />
monthly net pay in bank's shares<br />
DEUTSCHE Bank's (DBKGn.DE) chief executive Chris<br />
tian Sewing will spend 15% of his monthly net salary buying<br />
the German lender's shares starting in September, a regulatory<br />
filing showed on Monday.<br />
The filing makes official a pledge Sewing made in July, when<br />
he announced a major restructuring of the bank.<br />
Sewing said at the time he would invest a "substantial amount"<br />
of his fixed salary in the bank. The CEO, who is shaking up<br />
Deutsche Bank to try to revive its profitability, said in July he<br />
wanted to put his money where his mouth w<strong>as</strong>.<br />
Sewing will buy roughly 21,250 euros ($23,681.00) in shares<br />
around the 22nd of each month through to the end of 2022, the<br />
filing said. That would result in a total investment of around<br />
850,000 euros, b<strong>as</strong>ed on monthly purch<strong>as</strong>es up to the end of<br />
2022.<br />
Global stocks slip on tariffs,<br />
Argentina hit by capital controls<br />
GLOBAL markets remained subdued on Mon<br />
day after the United States and China imposed<br />
new tariffs on each other, while the spotlight returned<br />
to emerging-market risk <strong>as</strong> Argentina imposed capital<br />
controls.<br />
Argentina's international dollar bonds dropped to<br />
record lows, its financial stocks tumbled and risk premia<br />
shot up after President Mauricio Macri re-imposed<br />
capital controls on Sunday <strong>as</strong> the country battled<br />
to avoid its ninth sovereign default.<br />
The about-face by Macri, who had previously lifted<br />
many protectionist practices of his predecessor, Cristina<br />
Fernandez de Kirchner, came after the government<br />
failed to stem heavy investment outflows and to<br />
shore up its tumbling currency.<br />
MSCI's All-Country World Index, which tracks<br />
shares across 47 countries, w<strong>as</strong> down 0.04% on the<br />
day.<br />
S.Africa's Old Mutual to buy back<br />
$158m more shares<br />
OLD Mutual Ltd will launch its second share<br />
buyback of the year on Sept. 3, South Africa's secondlargest<br />
insurer said on Monday after posting a 10% rise in<br />
half-year profit.<br />
The company will buy back up to 2.4 billion rand<br />
($157.51 million) worth of shares subject to market<br />
conditions.<br />
"The board believes that the share price is trading at a<br />
discount to its intrinsic value and is of the view that a share<br />
repurch<strong>as</strong>e programme will deliver longer term<br />
incremental value to shareholders," Old Mutual said.<br />
In the p<strong>as</strong>t few years, the 173-year-old company h<strong>as</strong><br />
broken up an international conglomerate structure to<br />
return to its roots <strong>as</strong> an African financial services group<br />
with its primary listing in Johannesburg.<br />
Shareholders had hoped this homecoming would bolster<br />
the value of the group's stock, but instead it h<strong>as</strong> dropped<br />
amid a damaging public dispute with sacked Chief<br />
Executive Officer Peter Moyo.<br />
Dutch Ministry to support small<br />
scale farmers in Nigeria<br />
DUTCH Ministry of Agriculture h<strong>as</strong> disclosed it<br />
plans to support small scale farmers everywhere, particularly<br />
in Nigeria to achieve financial freedom.<br />
Agricultural Assistant Policy Officer, Kingdom of the<br />
Netherlands, Mr.Brian Udoh, disclose this during the regional<br />
consultative meeting on popularising the National<br />
Agricultural seeds act in Lagos, organised by the Nigerian<br />
Economic Summit Group (NESG) in collaboration with<br />
the National Agriculture Seeds Council (NASC) and the<br />
Alliance for a Green Revolution (AGRA).<br />
Udoh, representing the Dutch Ministry of Agriculture,<br />
stated that his country is very focused on helping small<br />
scale farmers everywhere, particularly Nigeria achieve financial<br />
freedom.<br />
He stated that, "seeing how farmers from other countries<br />
are progressing, it is sad to see Nigerian farmers suffering."<br />
He pledged the support of his ministry and charged the<br />
NASC to continue its consultative meeting and ensure that<br />
farmers get all the information they need about the agriculture<br />
seeds act.<br />
While delivering a presentation on "Understanding the<br />
National Agricultural Seeds Council Act, 2019",<br />
Mr.FolarinOkelola made it known that the mission of the<br />
NASC is to transform the Nigerian seed system into a leading<br />
seed industry in Sub-Saharan Africa worthy of generating<br />
foreign exchange, a key employer of labour and also<br />
a place that contributes positively to the Nigerian economy.<br />
He revealed that a lot of seed production is done by a lot<br />
of people ignorantly, and that led to the implementation of<br />
the Seed Act, Section 19 which states that "a person shall<br />
not engage in seed production, processing, marketing or<br />
importation for commercial purpose unless the person is<br />
registered under the NASC Act."<br />
He revealed that the NASC is setting up a centre for excellence<br />
of seed accreditation and plant variety protection<br />
in West Africa, and h<strong>as</strong> been identified <strong>as</strong> the first in awarding<br />
seed certification to registered businesses.<br />
Some stories credited to Reuters