Friday, 10 March 2017
Wednesday, 8 March 2017
Customs anti-smuggling units collect N1.3b in 2 months
By Godfrey Bivbere
THE Nigeria Customs Service, Federal Operations Unit, Zone ‘A’ Lagos in the months of January and February through its anti-smuggling operations, have realised about N1.3 billion, even as it intercepted various contraband and other goods with Duty Paid Value, DPV, of over N713 million.
The unit through its interventions recovered N650.3 million from duty payments and demand notices on general goods that tried to beat the system from seaports, airport and border stations in the guise of false declaration, transfer of value, and shortchange in duty payment. These yielded N1.4 billion into the federation account in the two months under review.
A statement signed by the Public Relations Officer of the Unit, Jerry Attah, and made available to Vanguard showed that 197 different seizures were recorded comprising foreign parboiled rice, frozen poultry products, vegetable oil, smuggled vehicles, Indian hemp, arms, fake pharmaceutical/medicaments and various general merchandise.
A breakdown of the seized items showed that 23000 bags of 50kg of foreign parboiled rice with a DPV of N149.5 million is still under seal in an unnamed warehouse in Lagos awaiting relevant importation document for further action. He also stated that Demand Notices, DN, of over N100 million has been issued to two auto dealers/assemblers under customs seal awaiting payment for infractions on their import transactions, while some are still undergoing court trials.
The Unit’s image maker also noted that over 16 x 40 footer containers under detention are on thorough investigation and appropriate DN would be raised and seizures effected where applicable. He further noted that following the tactical operation and successful evacuation, that later led to protests and breakdown of law and order by some angry traders, the Controller Federal Operations Unit Zone ‘A’ Comptroller Haruna Mamudu has further challenged those who might have genuine importation document from the seaport to come forward for their claims rather than breaching the law of the Land.
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Air Peace pledges on-time departure as Kaduna operations begin
Air Peace has said it has made arrangements to take travellers to their destinations on schedule as flight operations into and out of the Kaduna International Airport begin.
The airline gave the assurance in the wake of the disruption of some of its flights in the last few weeks, attributing the development to circumstances beyond its control.
A statement issued by the Corporate Communications Manager of Air Peace, Mr. Chris Iwarah said a complicated mix of poor weather, VIP movements and other unforeseen occurrences made it difficult to guarantee on-time performance.
The airline, however, assured that it had taken steps to minimise the impact of the development on air travellers. The carrier appealed for the understanding of the travelling public, saying it was pained at the strain its loyal customers had been made to go through.
“In the last few weeks, inclement weather, VIP movements, poor airport facilities and other unexpected occurrences have combined to disrupt our flight operations. The situation has resulted in delays and sometimes cancellations that have negatively impacted the travel plans of our esteemed customers.
“We deeply feel the pains of our loyal customers and passionately appeal for their understanding. We are fully conscious of the fact that we rode on the strength of our on-time performance, excellent safety record and customer-focused service to distinguish ourselves as Nigeria’s airline of choice in less than two and a half years of operation.
We are not about to deviate from these sound business practices that have given us a good name and earned us the loyalty of a vast majority of the flying public.
“We wish to assure our numerous customers that we are working round the clock to fix the challenge the disruptions have thrown up and fully stabilise our flight operations. Now that we are starting our operations into and out of Kaduna, we cannot afford delays in taking our valued customers to their different destinations. We quite understand the difficult nature of the operations into and out of Kaduna and have made arrangements to ensure our customers are not stranded for any reason.
“Besides getting our aircraft ready and available for the huge operations into and out of Kaduna, we have positioned our staff in both the Nnamdi Azikiwe International Airport, Abuja and the Kaduna International Airport to guide and assist our customers with their travel arrangements throughout the six-week shutdown of the runway of the Abuja facility for repairs.
We are also acquiring new aircraft to beef up our fleet as well as recruiting more flight and cabin crew to better serve members of the flying public. Our customers are the reason we are in business and we cannot afford to fail them.
“While commending our customers for their cooperation and understanding so far, we also want to solicit their continued support and patronage as we find our way through this difficult phase of our operations.
Air Peace will continue to deliver top-notch flight services to air travellers despite the challenges of the Nigerian aviation sector, which the Federal Government has thankfully been making genuine efforts to address,” the airline said.
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Domestic debt: FG to borrow N2.85trn by mid 2017
By Emeka Anaeto,
LAGOS—AMID brightening prospects of improved revenue accruals, the Federal Government is adjusting its borrowing plans as Central Bank of Nigeria, CBN, hopes to roll-over about N1.09 trillion worth of Nigerian Treasury Bills, NTB, borrowings in the second quarter of 2017.
The apex bank’s borrowing plan in its calendar released, yesterday, indicated that a fresh N43.3 billion NTB fund raise will be part of the new measures.
Also, the Debt Management Office, DMO, is set to raise additional N130 billion borrowings on behalf of the federal government in the form of bonds, next week, to bring its funds raise so far this year to N290 billion.
Vanguard further learned that the government plans to open a fresh local borrowing window next week in form of a Federal Savings Bond which is expected to raise over a trillion Naira this year. According to the apex bank’s debt auction calendar, it will sell N243 billion in 91-day bills, N198 billion in 182-day and N689 billion in 364-day debt. All the sales would take place between March 16 and June 1, 2017.
This will bring total domestic borrowings of government through same measure to about N2.21 trillion by end of first half of the year, just a match up to N2.32 trillion projected deficit for the full year in the 2017 Appropriation Bill. When added to about N290 billion raised for the FGN by the DMO, the total borrowings from domestic market would have amounted to N2.5 trillion, overshooting the total 2017 projected deficit by 8.7 per cent in the first half, H1’17.
Still growing also when the recent overseas fund raising by way of Eurobond issue which fetched the government USD1.0 billion, about N305 billion is added to the basket of fiscal financing actions for 2017, bringing the stack up to N2.85 trillion, about 22.8 per cent above the 2017 budgeted borrowings.
In the 2017 Appropriation Bill currently being scrutinized by the National Assembly, the government planned to spend N7.298 trillion, with a funding gap of N2.3 trillion (about 2.18 per cent of GDP), which the National Planning Minister, Udo Udoma, said would be bridged 50 per cent through domestic borrowings.
However, with the latest development, the bridging is now overshot by over 120 per cent and finance industry analysts say the borrowing would continue in the second half. But beyond deficit financing, the CBN’s action is also part of its measures in managing banking system liquidity squeeze and curb rising inflation in the economy.
DMO to sell N130 bonds
Meanwhile the DMO announced, yesterday, that it would be raising N130 billion from its third debt sale this year on March 15, 2017. The sales would come in triple issue of N45 billion in bonds due in 2021, N50 billion maturing in 2027, and N35 billion due 2036, using the Dutch auction system which begins with a high asking price that is lowered until the bond is sold.
Settlement is expected on the day following the issue. The bonds are re-openings of previous issues, except the 2027 which is a new issue.
Commenting on the new borrowing plans, Head of Research at FSDH Merchant Bank Limited, Mr. Ayodele Akinwunmi, told Vanguard that the apex bank might be moving debt towards a lower cost Savings Bond and at the same time shifting away from short term to a longer tenured borrowings to give it a more breathing space on repayments. The new borrowing plans are coming at a time government’s revenue appeared to be receiving a boost from the oil sector which has received two key boosts this year in form of stable oil price at above USD55 per barrel and sharp increases in oil production at about 2.1 million barrels per day.
Many financial analysts had argued that a bullish borrowing by the government would crowd out private sector in credit market as banks divert their funds to government lending.
This also increases cost of funds across all market segments as government borrowings are done at high rates ranging between 18.5 and 22 per cent.
The increased cost of funds, according to them, also pressures inflation which is now over 18.7 per cent.
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Barcelona v Paris Saint-Germain starting line-ups
Starting line-ups for the Champions League last 16, second leg between Barcelona and Paris Saint-Germain at the Camp Nou on Wednesday (PSG lead 4-0 on aggregate):
Barcelona (3-4-3): Marc-Andre ter Stegen; Javier Mascherano, Gerard Pique, Samuel Umtiti; Sergio Busquets, Andres Iniesta (capt), Ivan Rakitic, Lionel Messi; Rafinha, Luis Suarez, Neymar
Coach: Luis Enrique (ESP)
Paris Saint-Germain (4-3-3): Kevin Trapp; Thomas Meunier, Marquinhos, Thiago Silva (capt), Layvin Kurzawa; Marco Verratti, Adrien Rabiot, Blaise Matuidi; Lucas Moura, Edinson Cavani, Julian Draxler
Coach: Unai Emery (ESP)
Referee: Deniz Aytekin (GER)
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Tuesday, 21 February 2017
Griezmann among goals as Atletico gain upper hand
Atletico Madrid's French forward Kevin Gameiro (L) celebrates after scoring a penalty with his teammates during the UEFA Champions League round of 16 first-leg football match between Bayer 04 Leverkusen and Club Atletico de Madrid in Leverkusen, western Germany on February 21, 2017. PHOTO: Federico Gambarini / dpa / AFP
Antoine Griezmann was among the scorers for Atletico Madrid as they weathered a late storm against Bayer Leverkusen on Tuesday to claim a 4-2 victory in the first leg of their Champions League last-16 tie.
Saul Niguez and Antoine Griezmann scored to put the Spanish side two goals up at the interval, but Leverkusen pulled one back through Karim Bellarabi at the start of the second half.
A Kevin Gameiro penalty then restored Atletico’s two-goal advantage just before the hour mark, and while a Stefan Savic own goal gave Leverkusen hope again, Fernando Torres came off the bench to make it 4-2 late on.
The home side put in a brave performance and came close to equalising in the last 10 minutes, but Torres’ late goal sealed a deserved victory for the visitors ahead of the return in Spain next month.
Leverkusen started brightly, while Atletico looked to hit them on the break, and in the opening 10 minutes both had chances.
But in the 17th minute, the away side pounced. Cutting in from the right, Saul Niguez curled a fine shot into the far corner from the edge of the penalty area.
Atletico then grasped the game by the scruff of the neck and in the 25th minute a mistake by Aleksandar Dragovic allowed Gameiro to run at goal. He then squared the ball to Griezmann, who rifled a shot past Bernd Leno.
To their credit, Leverkusen rallied and Kevin Kampl forced an excellent save from Miguel Angel Moya from long range.
Only a fine stop by Leno at the other end prevented Griezmann from scoring again but Leverkusen quickly pulled a goal back at the start of the second half. Benjamin Henrichs found space on the right and delivered a low cross which Karim Bellarabi turned into the far corner.
It was no less than the Leverkusen forwards deserved, but their defence continued to struggle. Gameiro first hit the bar before extending Atletico’s lead from the penalty spot just before the hour mark.
Dragovic was at fault again as he wrestled Gameiro to the ground in the penalty area and the Frenchman calmly struck the ball down the middle to make it 3-1.
Leverkusen refused to give up, and an own goal gifted them another route back into the game on 66 minutes.
Fresh off the bench, Joel Pohjanpalo delivered a fine cross which ricocheted off Savic and into the Atletico net.
At 3-2, the hosts looked invigorated, and Javier Hernandez nearly equalised with 10 minutes to go, his shot cleared just in front of the line by Filipe Luis.
It was substitute Torres who secured the win late on, heading the ball in at the near post to make it 4-2 with just four minutes to play.
Vía The Guardian Nigeria http://ift.tt/2lkoENC
Aguero stars as Man City sink Monaco in thriller
Manchester City's Argentinian striker Sergio Aguero (L) scores their second goal during the UEFA Champions League Round of 16 first-leg football match between Manchester City and Monaco at the Etihad Stadium in Manchester, north west England on February 21, 2017. PHOTO: Oli SCARFF / AFP
Sergio Aguero starred as Manchester City beat Monaco 5-3 in a breathless and dizzyingly end-to-end Champions League last 16 first-leg encounter at a rocking Etihad Stadium on Tuesday.
Raheem Sterling put City ahead, only for Kylian Mbappe to level and Radamel Falcao to score twice — the second goal a magnificent chip — as Leonardo Jardim’s side moved into a 3-2 lead.
But City struck three times in the last 19 minutes, through Aguero’s second goal, John Stones and Leroy Sane, to put Pep Guardiola’s men in charge ahead of the return leg on March 15.
For a long time it looked likely to be a scarring night for City, who reached the semi-finals last season, as a succession of calamitous defensive errors allowed Monaco to take control.
But Aguero’s doggedness allowed them to haul themselves back into the game, abetted by Falcao’s failure to convert a penalty early in the second period.
Having recently lost his place in the team to Gabriel Jesus, only to regain it after the Brazilian broke his foot, it was a personal triumph for Aguero, who departed to a standing ovation.
Mbappe took Valere Germain’s place alongside Falcao in Monaco’s starting XI and the 18-year-old in the flourescent orange boots immediately caught the eye.
He looked to run at City’s defence at every opportunity, at one point leaving Nicolas Otamendi for dead twice in five seconds before setting up Benjamin Mendy, who was thwarted by Willy Caballero.
Kamil Glik’s evening got off to a bad start when he was booked for taking out Sane, ruling him out of the return leg, but he came close to putting Monaco ahead with a header from a corner.
It was City, though, who went in front in the 26th minute.
Sane lit the fuse, dancing away from three players on the City left and exchanging passes with David Silva before crossing for Sterling to slide home from close range.
But within six minutes Monaco were level as Guardiola’s goalkeeping problems came back to bite him.
– Falcao squanders penalty –
He had restored Caballero to his line-up, having fielded Claudio Bravo in the FA Cup at Huddersfield Town on Saturday, but the Argentine’s wayward kicking gave City jitters all evening.
It was his loose, lofted clearance that gifted possession to Fabinho prior to Monaco’s leveller, the Brazilian playing a one-two with Bernardo Silva and crossing for Falcao to net with a flying header.
Moments later came a contentious moment as Aguero nudged the ball past Danijel Subasic and went to ground, only to be booked for diving.
On the touchline, Guardiola reacted furiously, angrily gesticulating at fourth official Teodoro Sobrino, but there was worse to come.
City had all the time in the world to organise themselves when Monaco won a free-kick on halfway, but Fabinho was still allowed to find Mbappe, who steadied himself before finishing coolly.
It might easily have been 3-1 by the interval, with Mbappe and Falcao both going close either side of the former’s goal.
Monaco looked poised to extend their lead five minutes into the second half when Otamendi was penalised for fouling Falcao, but the Colombian’s weak spot-kick was comfortably saved by Caballero.
City levelled eight minutes later courtesy of a howler from Subasic, who allowed Aguero’s shot to go right through him at his near post after a storming run down the right from Sterling.
But the momentum swang back Monaco’s way just three minutes later when Falcao shrugged off Stones and then lofted an exquisite right-foot chip over Caballero from just 15 yards.
After Sterling had seen a penalty appeal turned away following a robust challenge by Benjamin Mendy, Aguero levelled again, volleying in smartly from Silva’s right-wing corner.
The momentum was City’s and after Stones had put them ahead in the 77th minute, jabbing in at a corner, Silva’s dinked pass enabled Aguero to set up Sane to set the seal on an extraordinary match.
Vía The Guardian Nigeria http://ift.tt/2lkwK8X
Sunday, 19 February 2017
‘Eight out of 12 PDP governors in talks with Sheriff faction’
-National Auditor
…settlement out of court best option
Daud Olatunji
ABEOKUTA-The National Auditor of the Peoples Democratic Party, Chief Adewole Adeyanju has said that shortly after the Appeal Court judgement in Port Harcourt, last week Friday which authenticated Ali Modu Sheriff as the National Chairman of the Party, eight out of twelve Governors on the platform of the PDP are in talks with Sheriff-led party.
Adewole who spoke on Sunday at Ijebu-Igbo in Ogun State during a meeting with the leaders of the party in the state and South West said members of national working Committee were working seriously to end the crisis rocking the party.
He said most of the members of the National Working Committee prayed for out of court settlement.
The Appeal Court sitting in Port Harcourt had last week Friday delivered a judgement on the leadership crisis rocking the party authenticating the leadership of Ali Modu Sheriff.
Adewole disclosed that part of the options to resolve the crisis in the party was to advise Sheriff and Makarfi to step down for the sake of the party.
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Group threatens to drag Ex-UNICAL bursar to anti-graft agencies over fraud
A Civil society group, the Centre for Social Justice, Equity and Transparency (CESJET)has said it is ready to provide the anti-corruption agencies with documented evidence of alleged frauds committed by ex-bursar of the University of Calabar, Mr Peter Agi.
Addressing a press conference in Abuja, CESJET Executive Director, Joyce Adamu said the Centre has commenced full scale forensic investigations into the activities that led to his sack and will turn over its discoveries to the anti-graft agencies.
She alleged that for man who just graduated from the University in 2004, Mr Agi has acquired so many properties scattered across Calabar city which are by far above his legitimate earnings.
According to her, the action of the group is in line with the whistle blower policy of the federal government’s anti corruption campaign.
Adamu alleged that Mr. Agi in his about four years as bursar in the university, was part of the gross misapplication of funds and fraud that permeated the institution, a regime that ceased with the assumption of Prof. Akpanagu as the new Vice Chancellor.
The CESJET Executive Director also raised an alarm over reports that some persons are mobilizing hoodlums for the purpose of posing as protesting students of the UNICAL to cause mayhem.
She said the plot may not be unconnected with the embattled former bursar of the university, Mr. Peter Agi, who has remained bitter after being relieved of his post over corruption related charges.
According to her, these protesters will then proceed to cause maximum damage to infrastructure at the university while also attacking the genuine students if they should dare question the destruction of their institution.
She said, “He is a confused man who has soiled his hands with public funds and afraid of approaching equity since his hands are clean.
He should face the Police in Calabar to explain his complicity in the criminal allegations leveled against him before a competent court.
“His recent attempt to blackmail the leadership of University to us is an attempt to divert attention from his unholy acts which set both students and members of the institution on a collision course with Mr. Agi’s ego and penchant for mischief which is known everywhere in the University.
“If he is confident that his hands are clean he is free to approach equity and should then exercise patience for the outcome. Mr Agi has gone before the National Industrial Court in Uyo and should be patient for the judiciary to do its work.
She accused the ex-bursar of sponsoring negative propaganda against the University as well as importing cultists and thugs to the school premises to harass and harangue staff that he advertently short changed.
She said, “CESJET notes that Mr Agi could not have embarked on this destructive crusade alone. He is clearly doing the hatchet job for certain vested interests.
“We have traced the connection and we know who his backers are and we also know their motives. We have become aware of meetings at which it was agreed that UNICAL should be sabotaged so that it can be used as an example of how the anticorruption fight is crippling institutions.”
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