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kachikwu negotiates $15bn investment with Indian Govt.

Minister of State For Petroleum Resources, Dr Ibe Kachikwu NAN-HE-18InvestmentBy Edith Ike-EbohAbuja, Oct. 17, 2016 (NAN) The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has negotiated a 15- billion dollar investment with Indian Government for the oil and gas sector.A statement signed by Mr Idang Alibi, Director, Press Ministry of Petroleum Resources, in Abuja on Monday, stated that the negotiations were part of the three-day investment drive of the minister to India.It said the negotiations would be for terms to be agreed, where the Indian Government would make an upfront payment for crude purchase to Nigeria.This, it said, would be repaid on the basis of firm Term Crude Contracts over some years and in consideration for Indian public sector companies collaborating in the refining sector as well as exploration and production activities.It added that long term contracts for supply of crude to Indian PSU companies from Nigeria and possibilities of executing CGD and LPG infrastructure projects by Indian PSU companies in Nigeria was part of the negotiation.It added that kachikwu had concluded talks on the investments in Nigeria’s Oil and Gas Sector in a bilateral meeting with his Indian counterpart, Shri Dharmendra Pradhan.“Both ministers noted the existing and significant engagement between the two countries in the hydrocarbon sector.According to the statement, the Indian minister acknowledges that Nigeria is one of the largest trading partners of India in Africa which is dominated by import of crude oil and gas.Between 2015 and 2016, India imported nearly 23.7 million tons of crude which was nearly 12 per cent of India’s overall imports and over two million tons of LNG from Nigeria.Following this negotiation, the two countries agreed to work on a Memorandum of Understanding(MOU) to facilitate investments by India in the Nigerian Oil and Gas sector.It said the investment would specifically be in areas such as Term Contract, participation of Indian companies in the refining sector, oil and gas marketing.Others include upstream ventures, the development of gas infrastructure and in the training of oil and gas personnel in Nigeria.“The MoU is expected to be firmed up in December 2016 during PETROTECH-2016.” Both ministers also agreed to strengthen the existing cooperation in Oil and Gas sector, and in particular, to explore investment opportunities for Indian Public and Private Sector companies in Nigeria,” it said.It added that the minister had one-on-one meetings with top executives of Indian Public Sector Oil and Gas companies and also representatives of some Indian private sector oil and gas companies.(NAN)ENO/IAEdited by Idris AbdulrahmanLagos pastor re-arraigned over N85m fraud
Lagos pastor re-arraigned over N85m
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Re-arraignment
By Sandra Umeh
Lagos, Oct. 17, 2016 (NAN) The Police Special Fraud Unit on Monday re-arraigned Pastor Chris Anyalebechi, the General Overseer of a pentecostal church at a Federal High Court, Lagos, over alleged N85 million fraud.
Anyalebechi, who oversees Christ Glory International Gospel Center, is being tried for conspiracy and obtaining money under false pretences.
The News Agency of Nigeria(NAN) reports that the police had on Sept. 5 arraigned the accused before a vacation judge, Justice Babs Kuewumi.
Following the transfer of the case to another court, the Prosecutor, Mr Effiong Asuquo, on Monday, re-arraigned the defendant before Justice Mohammed Idris.
The defendant pleaded not guilty to the charge.
The defence counsel, Mr George Ibekwe, moved a motion asking for bail for the pastor on liberal terms.
Justice Idris granted Ibekwe’s application and admitted the defendant to a bail of N10 million with two sureties in like sum.
The judge ruled that the sureties must reside in Lagos and must depose to an affidavit of means and he
adjourned the case to Nov. 28 for trial.
The prosecutor alleged that the defendant committed the offences sometime between April 2014 and March 2015.
He said the defendant conspired with some other persons now at large to obtain the money from Nestor Nwankwo and his company — Zicozeen Nig. Ltd.
He alleged that the defendant had under false pretences presented himself to Nwankwo and his company, pretending to be in position to buy for them used ships and vessels.
The prosecutor further alleged that the defendant’s intention was to defraud the complainants.
The offences contravened the provisions of Section 8 (a) of the Advanced fee Fraud Act, 2008. (NAN)
UNS/KOO/DA
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Edited by Kevin Okunzuwa/Dele AkinsolaI will not renege on my promise to banish hunger from Osun, says Aregbesola
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Hunger
By Victor Adeoti
Osogbo, Oct. 17, 2016 (NAN) Gov. Rauf Aregbesola of Osun, has reiterated that he would not renege on his promise to banish hunger and make life meaningful for the people of the state.The governor made the statement on Monday in Osogbo at the celebration of 2016 International Day for Poverty Eradication.
He said that his administration remained resolute to do `everything humanly possible’ to champion the cause of creating wealth by eradicating poverty.
In his speech titled: “Poverty Has No Place with Us,”Aregbesola said that the policy thrust and programmes of his administration were geared towards poverty eradication, make live abundant and create wealth for the citizenry.
He listed the six-point integral action plan of his administration to include: banishing poverty, hunger and unemployment; restoring healthy living, promoting functional education, enhancing communal peace and progress
He said that the plans were designed to uplift the people from being poverty stricken to being wealthy.
Commenting on the achievements made by his administration, the governor said 40,000 unemployed youths had been empowered under the Osun Youth Empowerment Scheme. (OYES)
Aregbesola said his administration had adopted multi-faceted approach to achieve its goal of providing healthcare for all.
“While government will continue to do everything within its means to provide for the people, we should all be productively engaged, especially in agriculture where we have comparative advantage,’’ he said.
Earlier in his address, Alhaji Abdul-Rahaman Musa, Chairman, Osun Community and Social Development Project (CSDP), commended the governor for the various poverty alleviation programmes he had put in place to benefit the people.
CSDP General Manager, Mrs. Funmi Abokede, also commended the government for being consistent in payment of counterpart funds for the programme.
She said that CSDP was being funded by the state government and World Bank.
Abokede noted with satisfaction that government had released N550 million for payment of counterpart funds between 2010 and 2015. (NAN)
VE/AEA
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Edited by Archibong AsuquoCJ to set up panel on backlog of cases in FCT
CJ to set up panel on backlog of cases in FCT
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Panel
By Edith Nwapi
Abuja, Oct. 17, 2016 (NAN) The FCT Chief Judge, Justice Ishaq Bello, has promised to set up a panel to address the backlog of cases of awaiting trial inmates in the prisons .
Bello gave the promise when he visited Kuje Prisons on Monday.
He said that it was worrisome that there were many cases which needed to disposed of and the convicts set free.
“I have resolved after consultations with my brother judges that I am going to set up a panel so that court by court these cases will be taking head on within defined period of time.
`Maybe two weeks each court and then we give time to the prosecution whether from the Ministry of Justice or the police to come forth with their witnesses.
These cases will be taken and disposed of so that we can clear the backlog of long cases ,“ he said.
Bello reiterated that cases of fine and compensation should not warrant convicts to stay so long in the prison.
“There are certain period of imprisonment or fine and where there are failure to pay the additional period should be defined.
“But where somebody is being held over order for compensations it means life imprisonment if the convict failed to pay.
“You should enforce this order for compensation in the same manner as it occurs in any judgment in civil cases. “
Bello advised the prison medical team to sick inmates adequate treatment and those with contagious diseases.
He pardoned two of the 570 inmates, and stressed that the aim of the visit was to address certain perceived wrongs against the inmates.NAN)
NEO/OFN
Edited by Felix Nwadioha
Stock broker wants policies to drive dollar influx
Stock broker wants policies to drive dollar influx
NAN-HE-17PoliciesBy Akinwale AledareLokoja,Oct 17,2016(NAN)Dr Gabriel Odaudu,a stock broker, has urged the Federal government to introduce policies that will help drive an influx of the dollar to boost the economy.Odaudu told the News Agency of Nigeria (NAN) in a telephone interview on Monday that the only way Nigeria could come out of recession was to encourage more investors to help increase dollar inflow in the country.Odaudu said there had been scarcity of dollars in Nigeria in the last three months which had been a major issue that had not helped the nation out of its predicament.He said some few highly placed Nigerians were keeping dollars, meant for commercial banks, to themselves which had made it difficult for banks to issue dollar notes for their transactions.Odaudu appealed to the Central Bank of Nigeria (CBN) to effectively monitor the distribution of dollars to commercial banks, to ascertain that the currency was being accessed by the right people.(NAN)WAL/IAEdited by Idris AbdulrahmanN8.5bn fraud: retired Gen. Atewe, others face trial in Lagos Oct. 18
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Atewe
By Sandra Umeh
Lagos, Oct. 17, 2016 (NAN) The trial of retired Maj.-Gen. Emmanuel Atewe, a former Commander of the Military Joint Task Force in the Niger Delta over alleged N8.5 billion fraud, has been scheduled Tuesday at a Federal High Court, Lagos.
Atewe is charged alongside a former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Patrick Akpobolokemi, Kime Engozu and Josephine Otuaga.
They are standing trial on a 11-count charge bordering on fraud.
At the resumed trial of the case on Monday, the prosecution informed the court that counsel to the first accused had written a letter to be excused from court because he had another case at the Supreme Court.
Consequently, Justice Saliu Saidu adjourned the case to Tuesday for trial.
The prosecutor, Mr Rotimi Oyedepo, alleged that the accused conspired to defraud NIMASA of N8.5 billion using six companies — Jagan Ltd, Jagan Trading Company Ltd, Jagan Global Services Ltd, Al-Nald Ltd, Paper Warehouse Ltd, Eastpoint Integrated Services Ltd and De-Newlink Integrated Services Ltd.
The EFCC claimed that the accused committed the fraud between Sept. 5, 2014 and May 20, 2015.
The accused all pleaded not guilty to the charges.
Oyedepo said the offences contravened the provision of Section 18(a) of the Money Laundering (Prohibition) Amendment Act, 2012 and Section 390 of the Criminal Code, Laws of the Federation, 2004. (NAN)
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Edited by Kevin Okunzuwa/Dele AkinsolaAssociation urges foreign companies to invest in agric sector
Association urges foreign companies to invest in agric sector
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Companies
By Kudirat Ogunyemi
Abuja, Oct. 17, 2016 (NAN) The African Young Farmers Association (AYFA) has called on the foreign companies and multinationals to invest in the country’s agricultural sector.Mr Bakare Oladimeji, the National President of the association, made the call in interview with News Agency of Nigeria (NAN) in Abuja on Monday at the sideline of the World Food Day celebration.
Oladimeji said that Nigerian government needed serious international and multinational intervention in the sector.
He appealed to all the multinational companies operating in Nigeria and all the corporate organisations, to play a role in reducing hunger and poverty in the country.
“Unemployment is ravaging the entire nation, and hungry population is an angry population.
“Peace and peaceful co-existence is being threatened and crime rate is on the increase; we should not allow the situation to remain or even deteriorate,’’ he said.
He explained that there are potentials in Nigeria’s agriculture, mining and other sectors of the economy.
The association’s president stressed the need for more investment in rural roads, agricultural equipment among others.
“They should help us to create jobs and boost means of livelihood through agriculture and it will be better for us all.
“We are also calling on Nigerians in Diaspora that there are so many opportunities in agriculture, especially in food processing and storage of agric produce.
“Please come and support the ongoing efforts of the present administration to save Nigerians from hunger and to create good wealth and job opportunities.
“Come and join us to make Nigeria a better place for all,’’ he pleaded.
AYFA leader added that the association was keenly committed to nation’s building through agriculture, youth development and empowerment.
“ We have accepted the responsibility of charting a new course for the new generation of farmers and agric entrepreneurs and we will not rest on our oars until the desirable changes Nigerians yearn for are achieved.
“ AYFA are not deterred by the enormousness of burden of this national assignment, we consider it as an opportunity to contribute a significant quota to the efforts toward repositioning Nigeria to its rightful place.
“ Our strength and solace will be derived from goodwill of our people as well as the unrestricted outpouring of support from well meaning Nigerians,’’ he said.
He said that the association has designed and developed a lot of agricultural programmers with great capacities to create jobs and financially empower the youth.
“ The support of the government at all levels toward the successful implementation of these programmes is needed.
“ We also use this medium to extend our hand of fellowship to international donor agencies, multinational companies and corporate to come and partner with us in implementation these programmes, ‘’ he said. (NAN)
ROK/AFA
Edited by Felix Ajide
================AYFA charges foreign companies to invest in Nigeria’s Agriculture
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Companies
By Kudirat Ogunyemi
Abuja, Oct. 17, 2016 (NAN) The African Young Farmers Association (AYFA) has charged the foreign companies to invest in Nigeria’s agriculture as country is obviously broke and financially incapacitated to very large extent.
Mr Bakare Oladimeji, the National President of the association stated this in a side interview with News Agency of Nigeria (NAN) at the press conference to mark the `WORLD FOOD DAY’ in Abuja on Monday.
Oladimeji said that Nigeria government needed serious help and appealed to all the multinational companies operating in Nigeria, all the corporate organizations, reputable citizens to play a role in reducing hunger and poverty.
“ Unemployment is ravaging the entire nation, adding that a hungry population is an angry population.
“ Peace and peaceful co-existence is threatened and crime rate cannot be controlled if we allow the situation to remain the same or even get worse,’’ he said.
He urged the companies to help Nigeria’s agriculture, invest in rural roads construction or rehabilitation, agricultural equipments and production input manufacturing.
“ Help us to create jobs and means of livelihood through agriculture and it will be better for all us.
“ We also call on Nigerians in diaspora that there are so many opportunities in Nigerian agriculture especially in food processing and storage of agric produce.
“ Please come and support the on-going efforts to save Nigerians from hunger and also avail yourselves with the opportunity to create good wealth. Come and join us to make Nigeria a better place for all,’’ he said.
AYFA leader added that the association keenly committed to nation building through agriculture, youth development and empowerment.
“ We have accepted the responsibility of charting a new course for the new generation farmers and agric entrepreneurs and we will not rest on our oars until the desirable changes Nigerians yearn for are achieved.
“ AYFA are not deterred by the enormousness of burden of this national assignment, we consider it as an opportunity to contribute a significant quota to the efforts towards repositioning Nigeria to its rightful place.
“ Our strength and solace will be derived from goodwill of our people as well as the since and unrestricted outpouring of support from well meaning Nigerians,’’ he said
He said that the association has designed, developed and now implementing a lot of agricultural programmers with great capacities to create jobs and financial empowerment for the youth.
“ The support of the government al all levels towards the successful implementation of these programmes in all the states across the nation.
“ We also use this medium to extend our hand of fellowship to international Donor agencies, multinational companies and corporate to come and partner with us in implementation of the programmes, ‘’ he said. (NAN)
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Oyo SWAN commiserates with family of late 3SC player, Izu
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Commiseration
By Akeem Abas
Ibadan, Oct. 17, 2016 (NAN) The Sports Writers Association of Nigeria (SWAN), Oyo State Chapter, has commiserated with the management of 3SC FC of Ibadan over the death of its player, Izu Joseph on Sunday.The association said in a statement jointly signed by Mr Niyi Alebiosu and Mr Adewale Tijani, Chairman and Secretary respectively, that it received the news of Joseph’s death with shock.
NAN reports that Joseph, a Central Defender with 3SC, was a reliable and committed player to the club.
Joseph was allegedly shot in Bayelsa on Sunday by suspected JTF officials on arriving the state to visit his family.
“Joseph had contributed immensely to the escape of 3SC from relegation in the just-concluded Nigeria Professional Football League (NPFL).
The association said that Joseph’s death was a great loss to 3SC and the football fraternity in Nigeria.
“While we are still in shock and mourning over the avoidable death of the agile and dependable defender, we recalled his last goal that gave 3SC victory over Nasarawa United in Week 26 of the just concluded NPFL,’’ it said.
It added that Oyo SWAN appealed to governments to beef up security in all the nooks and crannies of the country to prevent the recurrence of the avoidable incident that claimed Joseph’s life.
It prayed for the repose of the soul of late Joseph and that God grants his family and 3SC the fortitude to bear the loss. (NAN)
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(Edited by Fela Fashoro/Peter Ejiofor)NUC phases out sub-degree diplomas
NAN-H-72Diplomas
By Chijioke OKoronkwo
Abuja, Oct. 17, 2016 (NAN) The National Universities Commission (NUC), has scrapped sub-degree diploma programmes in the Nigerian university system.
This is contained in a statement by the commission’s Deputy Director of Information, Mrs Adebukola Olatunji, in Abuja on Monday.
Olatunji explained that the ban was part of the decisions at an interactive session of the Executive Secretary of NUC, Prof. Abubakar Rasheed, with vice chancellors of federal, state and private universities.
According to the statement, universities have been directed to begin the process of winding down sub-degree diplomas.
“A comprehensive review of the entire university curricula – the Benchmark Minimum Academic Standards and ranking of Nigerian universities – has been scheduled for 2017.
“Two of the cardinal activities of the commission – Accreditation of Programmes and Resource Verification, will now take place only twice and thrice a year, respectively.
“May and November are for Accreditation while March, July and December are for Resource Verification.’’
Olatunji added that other decisions taken included the revamping of Institutional Accreditation, commencement of accreditation of part-time programmes and resumption of the Nigerian University System Annual Review Meeting.
She said accreditation of academic programmes by professional bodies, shortfalls in personnel emoluments and incorporation of universities into the Integrated Personnel Payroll Information Systems were also discussed.
Others were matters arising from the 2009 agreement between the federal government and Academic Staff Union of Universities.
“Rasheed told vice-chancellors that running sub-degree diplomas was not the business of universities, but that of polytechnics.’’
The executive secretary reminded them that federal government, in 2001, issued a circular stating that such diplomas could not be used for employment or promotion in the public service.
“Rather than stretch facilities to run sub-degree programmes, universities should direct their energies toward their primary function of producing high level manpower for the economy, by strengthening their part-time programmes.
Olatunji said the universities were urged to develop and implement an Institutional Research Policy and establish a Research Administration Directorate, to be headed by a professor. (NAN)
CJ/EAL/IEA
==========Edited by Ekemini Ladejobi/Idahosa Asowata
================================Nigeria on path to winning war against corruption, says U.S. envoy
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Corruption
By Tukur Muntari
Kano, Oct. 17, 2016 (NAN) Shaarik Zafar, U.S. Special Representative to Muslim communities, has expressed optimism that the current fight against corruption in Nigeria would succeed.He made the remark while addressing a news conference in Kano on Monday.
The News Agency of Nigeria (NAN) reports that Zafar was in Kano to offer opening remarks at an inaugural workshop on anti-corruption for religious leaders.
The workshop was organised by Zafar’s office under the U.S. Department of State.
He said if corruption could effectively be tackled, Nigeria would witness fast socio-economic growth and development.
He added that “I am optimistic that if corruption is tackled, a lot of good things will follow; the trend is positive for Nigeria, based on the commitment.”
According to him, the U.S. government is committed toward assisting Nigeria in the current effort to fight corruption.
He emphasised that “Nigeria’s success is America’s success, hence our decision to work with government, civil society organisations and religious groups to prevent corruption.”
The special representative said that the workshop would address how communities could work together to combat corruption, promote accountability and encourage transparency.
He said “as I said, I have a global mandate. So, I will encourage a continued focus by religious leaders on the critical challenge of combating corruption.
“This is not only because of their moral voice but because religious leaders speak a common language with their communities.
“They also have incomparable access, unique network and level of respect that can help in this common battle against corruption and to promote accountability.”
The envoy said that during his stay in Nigeria, he would pay a courtesy visit to Gov. Abdullahi Ganduje and Emir of Kano, Alhaji Muhammadu Sanusi II.
While in Abuja, the envoy said, he would meet with religious and community leaders in order to hear from them their current challenges and opportunities. (NAN)
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(Edited by Hadiza Mohammed-Aliyu)