A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc
2016 was a year Nigerian bankers would not want to experience again. It was the year the industry suffered heavily from the worst nightmare of bankers- bad loans.
According to the Financial Stability report of the Central Bank of Nigeria, CBN, banks recorded N1.02 trillion bad loans in the first half of 2016. “Non-performing loans (bad loans) in the period under review grew by 158 per cent from N649.63 billion at end-December 2015 to N1.68 billion at end-June 2016”, the CBN stated.
As a result, the ratio of bad loans to total loans more than doubled to 11.7 percent in the first six months of the year from 5.3 percent at the end of 2015. This implies that for every N100 of loan granted by banks, borrowers could not repay N11.30.
Economy in recession
The above was caused by the persistent general decline in economic activities or economic recession experienced by the country during the year. Economic recession according to experts is defined as two consecutive quarters of negative GDP growth. According to the National Bureau of Statistics, NBS, economic activities as measured by the gross domestic product (GDP) declined by 0.36 percent in the first quarter, 2.06 per cent in the second quarter and 2.24 percent in the third quarter. These imply Nigeria experienced economic recession in 2016.
Economic recession
Furthermore, the CBN’s Purchasing Managers’ Index for November, revealed that production level in the manufacturing sector and business activities in the non-manufacturing as well as employment level in both sectors declined consistently from January to November.
Loan defaults: The decline in economic activities resulted to lower revenue and losses for many businesses and hence they could not repay loans borrowed from banks. This is reflected in the CBN’s credit condition survey for the fourth quarter, which stated: “Corporate loan performance as measured by the default rates deteriorated in the review quarter. Default rates on lending to all sizes of businesses deteriorated in Q4 2016. Lenders had mixed opinions on default rates in the next quarter; they were of the opinion that default rates for the medium and large PNFCs will improve, while the default rates for the small businesses and OFCs will further deteriorate.”
Also, the CBN in its Financial Stability report of Q1 2016, predicted further increase in bad loans in the second half of the year. It stated, “Credit risk is expected to trend higher into the second half of 2016 owing to increased loan impairments resulting from the depreciation of the Naira and inability of obligors to service foreign loans”.
Bank buildings
The implication of the above is that the banking industry may have lost over N2 trillion to bad loan due to the impact of the economic recession on businesses and individuals across the country.
According to Dr. Biodun Adedipe, Chief Executive Officer, Biodun Adedipe Associates, “The ultimate aim of lending is the collection of the loans and other facilities granted, along with the servicing by the borrowing customers. As such, the current and expected states of the economy have great impact on the lending activities of banks and the safety of risk assets.
Foreign Exchange challenge: In addition to loan losses, banking business was also constrained by shortage of foreign currency. With monthly dollar inflow dropping below $1 billion in 2016 from $3.2 billion due to decline in crude oil prices, the country battled with shortage of dollars to finance its monthly import bill of over $4 billion. As a result, businesses could not access dollars to import raw materials needed for production which in turn reduced banks’ income from import financing. “Businesses are still hurting from the spasmodic supply of dollars whilst reporting staggering losses,” noted Mr. Bismarck Rewane, in his review of the economy in November.
The scarcity of foreign exchange, according to Deputy Managing Director, First Bank of Nigeria Limited, Mr. Gbenga Shobo, posed a major challenge to banks during the year.
He said, “Lack of foreign exchange has been the major problem since we import almost everything in the country. Factories have to bring in raw materials. As far as there is no money to bring in those raw materials, capacity utilization for some of these manufacturers has dropped to about 35 percent and this will definitely reduce banks turnover.”
Rising inflation: Banking business was also affected by rising inflation in 2016. According to the NBS, inflation rate rose from 9.55 percent in December 2015 to 18.44 percent in November 2016. In response, the CBN further tightened money supply, increasing the Monetary Policy Rate (MPR) first to 12 percent in March and then to 14 percent in July. In addition, the CBN increased the Cash Reserve Ratio (CRR) of banks to 22.5 per cent from 20 percent. This translated to 300 basis points increase in the MPR and 250 basis point increase in the CRR. While the aim was to attract more savings into the banking system and dollar investments into the economy, these moves, however, led to the withdrawal of about N2 trillion from the banking system, thus reducing the money available to banks to do business. It also increased their cost of funds, which translated to reduction in interest rate margins. According to the CBN, interest rate contributions (interest margins) to total income of banks declined to 54.3 percent in the first half of 2016 from 63.8 percent in December 20015.
Rating Downgrade: Though the huge bad loans were occasioned by the impact of the economic recession, it however undermined confidence in the Nigerian banking sector, prompting global rating agency, Fitch, to downgrade its rating of nine Nigerian banks from B+ to B-. The company stated, “implication of the downgrade meant that more loans that could not be recovered in the next 10 years dominated the system such that creditors can no longer rely on receiving full and timely extraordinary support from the Nigerian system, if any of the banks became non-viable.”
Cost Cutting
To reduce the impact of the loan loss on the performance and financial health, most banks resorted to cost cutting measures including staff retrenchment, reduction in lending activities, and reduction in staff salaries.
According to Alhaji Musa Umar, Director, Research, Policy and International Relations Department, Nigeria Deposit Insurance Corporation (NDIC): “The financial sector appears to be having its own fair share of the effect of economic recession, as a number of banks are experiencing poor asset quality and increase in non-performing loans, resulting in downsizing of staff, reduction in staff salary, etc.” According to banking sector analysts, about 3000 bank workers lost their jobs in 2016 due to the wave of staff retrenchment triggered by the recession.
A Federal High Court in Lagos has reserved judgement in the disputed former National Youth Service Corps (NYSC) camp suit by the family of Beku Onimaba against Lagos state government, following an application for stay of proceedings filed by the Attorney General of the Federation and the Lagos state government.
The court presided over by Justice Okon Abang last week informed parties in the disputed suit that though, judgement is ready, but that Lagos state had filed an application for stay of proceedings due to its appeal challenging the court's jurisdiction.
The land in dispute measuring 52.13 acres (21,098) is situated at Igando town on LASU- Isheri Expressway Lagos .
Justice Abang said the outcome of the appeal of the application of stay of proceedings will determine if the matter would stay or Judgment would be delivered.
Plaintiffs in the suit are; Alhaji Ganiyu Ige, Chief Wuka Olosunde, Joseph Bakare-Shodeke, Alhaji Muritala Remilekun- Shodeke, Lawal Ige, Femi Akintola- Ige and Alhaji Wasiu Olosunde, for themselves and on behalf of the Beku Onimaba family.
The respondents in the suit are the Minister of Youth Development, the NYSC Director-General, the Lagos NYSC Coordinator, the Attorney General of the Federation, the Permanent Secretary, Lagos State Lands Bureau, the Attorney General of Lagos State, and Governor Akinwunmi Ambode.
The family through their lawyer, Mr. L. B Shopeyin said that the land which is in dispute now was to be built and used by the National Youth Service Corps (NYSC) as Orientation camp.
They noted that in exercise of their ownership rights over the land they granted, part of it to the Lagos state government for use as NYSC camp, but as it was not utilised they asked that the land should be returned to them.
They further stated that sometime in 1983 after they were approached that the federal government of Nigeria was interested in land in Lagos State for use as Orientation Camp for the NYSC, scheme the family decided to grant the land which is now in dispute to the government.
They claimed they did not grant lease or sell any part of their family land to the defendants
However, at the resumed hearing of the matter last week, the case could not go on as the fifth to seventh defendants were not in court and their applications for stay of proceedings was not served on the plaintiffs and the first to fourth defendants.
Consequently, the matter was adjourned till February 13, 2017, for the hearing of the applications.
The family said that sometime in August 2008, they became aware of statements credited to the first to third defendants whom with the other defendants are not owners of the land that was published in Punch Newspaper of Tuesday, September 4, to the effect that they no longer need the land in dispute which was granted to them for use as Orientation Camp for NYSC Scheme for Lagos state.
"We wrote to the seventh defendant that in view of the fact that another land at Agege, Lagos is now being used as NYSC Orientation Camp, that the large parcel of land granted to the government be returned to us as the original owners. The fifth to seventh defendants did not comply with the relevant law in taking over the land instead on November 10, 2010, officials of the defendants came to the land and started working thereon without prior information to the plaintiffs."
The plaintiffs are seeking a declaration that they are entitled to the statutory right of occupancy in respect of the land.
They sought an order granting them possession of it and an order of perpetual injunction restraining the defendants from destroying their property on the land, allotting or leasing it to anyone and constructing anything on it or trespassing on it.
The defendants had challenged the court's jurisdiction to adjudicate the case, but Justice Abang dismissed their objection.
Former President Olusegun Obasanjo has urged Nigerians to go socially, economically, politically and spiritually back to the basic. This came as he said that he is looking forward to a better 2017 that will make very thing new for Nigeria.
Obsanjos made this after a church service in Abeokuta.
He said that Nigeria should go back socially, economically, politically and even spiritually to the fundamentals.
‘We are looking forward with hope to a better year than the one we have just got out off.
‘And there is no reason why it should not be in every sense of the word socially, economically, politically and even spiritually so am looking forward to the 2017 that will make everything news for Nigeria.
‘I think we have to go back to the basic, fundamentals. The fundamentals of economic recovery and growth I believe that if we do that we will get there’
Olivier Giroud scored a stupendous “scorpion kick” volley as Arsenal climbed to third place in the Premier League table with a 2-0 New Year’s Day victory over Crystal Palace.
Giroud netted with a breath-taking improvised strike reminiscent of Henrikh Mkhitaryan’s recent goal for Manchester United and Alex Iwobi was also on target at the Emirates Stadium.
It left Arsenal nine points below leaders Chelsea and they were joined in the top four by Tottenham Hotspur, who replaced Manchester City in the Champions League places after winning 4-1 at Watford.
Arsenal, who were without the ill Mesut Ozil, finish the weekend three points below second-place Liverpool, with north London rivals Spurs a point back, above City on goal difference.
Armenian midfielder Mkhitaryan advanced a strong claim to the Goal of the Season award in United’s 3-1 win over Sunderland on Boxing Day, only for Giroud to better his strike just six days later.
The France striker squandered a golden early chance when he miscued from Nacho Monreal’s volleyed cross, but he atoned in memorable fashion in the 17th minute.
He was involved twice in a sweeping move that began when Lucas Perez slid in to cut out a square pass from Palace’s ex-Arsenal midfielder Mathieu Flamini.
Hector Bellerin played the ball forward to Giroud and his clever back-heel found Granit Xhaka, who helped the ball on to Iwobi, who slipped it wide to Alexis Sanchez on the left.
Sanchez’s cross was slightly behind Giroud, but he adjusted brilliantly to hook the ball forward with his left heel, sending it sailing over Wayne Hennessey, off the bar and into the net.
Nigerian forward Iwobi doubled Arsenal’s lead in the 56th minute, heading in after Scott Dann’s attempt to block Monreal’s cross sent the ball spinning into the air.
Palace rallied, obliging Petr Cech to save from Yohan Cabaye and Andros Townsend, but new manager Sam Allardyce would not be spared from a defeat that kept his side one place above the bottom three.
A video posted by Stars Of Premier League (@starsofpremierleague) on
– Kane, Alli at double –
Tottenham beat Watford in their second successive 4-1 win, having prevailed by the same scoreline at Southampton in mid-week, to rack up a fourth consecutive league victory.
Deputising for the suspended Kyle Walker at right-back, Kieran Trippier made the most of the opportunity by setting up Kane for Spurs’ first two goals at Vicarage Road.
His clever pass freed Kane to beat Heurelho Gomes at his near post in the 27th minute and six minutes later the former Burnley player’s cross was volleyed home by Kane at the back post.
Alli had earlier hit the bar and he got on the score-sheet either side of half-time.
He pounced on Younes Kaboul’s mishit clearance to roll a shot into the bottom-right corner and then, after the change of ends, slipped the ball past Gomes from Kane’s right-wing cross.
Kaboul reduced the arrears in stoppage time, forcing the ball over the line from a free-kick, but the hosts did not celebrate.
“We played very good, to a very high standard,” said Spurs manager Mauricio Pochettino, whose side host leaders Chelsea on Wednesday.
“The first half was one of the best we’ve played this season. I’m very happy because it was a difficult game and the team responded.
“We know that Chelsea’s performance is very high. They are a very good team with high confidence, but we will try to challenge them to take the three points.”
Majority Leader in the House of Representatives, Hon. Femi Gbajabiamila, Sunday, said that the nation's lawmakers would work toward speedy passage of the 2017 budget, but would not sacrifice thoroughness in doing so.
Gbajabiamila spoke with newsmen in Lagos on the occasion of his constituency's celebration of the New Year baby at the Maternal and Child Care Hospital, Surulere.
He also donated gift items to children with health challenges at the Heart of Gold Children's Hospice, also in Surulere, to mark the New Year.
The lawmaker said that though the budget was presented late, efforts would be put in place to pass it promptly.
"It's unfortunate that the budget was presented late. I have always been an advocate that budget be presented in September or first week in October as done in advanced democracy.
"You don't present the budget late in December and expect quick passage. The financial year is supposed to start by Dec. 31 or Jan.1.
"We cannot sacrifice thoroughness and good work on the altar of time, we still need to do our work ; we will ensure we fast track the passage in the shortest possible time.
"When we go back to the house, we will double and triple all efforts and make sure that this budget is passed on time," he said.
Gbajabiamila said that hopefully, the budget would revive the country's economy and make life better for Nigerians.
"The good thing is that the budget year has been extended to March and there are safeguards in the constitution that provide that when the budget has not been passed during a certain period, there are certain things that can be done to keep the government running.
"But the budget will be passed soon and like it has been tagged -'Budget of Recovery and Growth', hopefully, that is what we will see in 2017," he said.
The News Agency of Nigeria (NAN) reports that President Muhammadu Buhari on Dec. 14, 2016 in Abuja, presented a budget proposal of N7.30 trillion for 2017 before a joint session of the National Assembly.(NAN)
The Chairman of the Christian Association of Nigeria (CAN),Taraba chapter, Rev. Ben Ubeh, on Sunday called on security agencies to strengthen the synergy between them in order to defeat insurgency in the country.
Ubeh made the call in Jalingo while speaking with journalists on his expectations for the new year.
Ubeh, who is also the General Overseer of Christ Glorious Army, praised the Federal Government for the successes it had recorded against Boko Haram terrorists in the North-East in 2016.
"I call on security agents, including vigilantes, to endeavour to share information amongst themselves to be able to tackle all forms of terrorism in the country, especially the problem of herdsmen/farmers conflicts across the country.
On the current economic hardships in the country, the clergyman expressed hope that the nation would come out of it stronger, especially during the new year.(NAN)
Gambian leader, Yahya Jammeh, has accused West African regional body, ECOWAS, of declaring war against his country for refusal to step down at the end of his mandate this month.
Jammeh, who accused ECOWAS of putting forces on alert in case he refused to step down, has vowed to stay in power despite losing a Dec. 1 election to rival Adama Barrow.
He also promised to defend Gambia against any outside aggression, in a New Year speech broadcast on state TV.
The veteran leader initially conceded defeat in the vote, then changed his mind days later – raising fears that regional powers might have to intervene to oust him. His mandate runs out on Jan. 19.
Marcel de Souza, commission president for the Economic Community of West African States (ECOWAS), said last week that the body had put standby forces on alert.
In his speech, Jammeh decried "the resolution of ECOWAS on the current situation to implement the results of Dec 1, 2016 presidential election by whatever means possible".
He apparently acknowledged again that the poll did not go in his favour.
"It is in effect a declaration of war and an insult to our constitution.
"Let me make it very clear that we are ready to defend this country against any aggression.
"My government will never opt for such confrontation but defending our sovereignty is a sacred duty for all patriotic Gambians," he said.
Barrow's surprise victory and Jammeh's initial decision to concede after 22 years in power was initially seen as a moment of hope on a continent where autocratic leaders are becoming more entrenched.
Nigerian President Muhammadu Buhari has stepped in as an ECOWAS mediator to offer Jammeh an "honorable exit", but Jammeh said the bloc could no longer fulfill that role. (Reuters/NAN)
Most Rev. Martin Uzoukwu, the Bishop of Catholic Diocese of Minna, has said that churches cannot accomplish their projects due to the biting economic recession rocking the country.
Uzorukwu said this in an interview with the News Agency of Nigeria (NAN) in Minna on Sunday.
According to him, the economic recession is a challenge to everybody, including the church, because some churches have projects to accomplish but cannot do so because of the recession.
Most Rev. Martin Uzoukwu
The cleric said the more the recession affected the church members, the more it affected the church.
"The recession is an issue every church in Nigeria is committing to God in prayer because the church needs money for the work of God and for charity. "If patients go to hospitals, only to tell stories that they can't pay hospital bills, the church writes it off for them,'' he said. According to him, the recession has "increased our burden in paying school fees for many indigent students that their parents can't help any longer
"You do know that I am a Bishop and not a Principal or an Headmaster. So, if we continue to offset bills for people, how can we maintain our schools, hospitals and then pay the staff. "The burden of the recession is taking its high toll on us and we are not relenting in prayers as we expect a radical turn around in this year 2017,'' the cleric said. Uzorukwu urged Nigerians to pray for the nation's leaders to enable them to contribute their best to the development of the country.
"There is need for them to know that they are the servants of the people and servants of God. "The commonwealth God has given to the country is for everybody," he said. (NAN)
The Nigerian Army says it has recovered one AK47 assault rifle and uniforms belonging to DSP Mohammed Alkali and his police orderly allegedly beheaded by cultists.
The policemen were killed by suspected cultist at Omoku, Ogba/Egbema/Ndoni Local Government Area of Rivers during the Dec. 10 re-run legislative elections.
DSP Mohammed Alkali
Maj.-Gen. Kasimu Abdulkarim, the General Officer Commanding (GOC), 6 Division, Port Harcourt, disclosed this to newsmen in Port Harcourt on Sunday.
Abdulkarim said that troops from the Division recovered the items during a raid on four militant camps and cultist's hideouts in Ujju community near Omoku.
According to him, troops also recovered assorted types of arms and ammunitions stashed away by bandits in the area.
"Ogba/Egbema/Ndoni Local Government Area has over time witnessed criminal acts ranging from attacks on critical national infrastructure and brutal murder which affected economic activities of oil companies and citizens.
"The barbaric nature and manner of criminalities led the 6 Division to conduct a raid on December 31 on four suspected criminal camps located across the River, in Ujju community.
"In the raid, 6 Division troops in conjunction with Operation Delta Safe Special Boats Service and air component, engaged the suspected criminals in exchange of gunfire.
"Troops later arrested some suspects and recovered several weapons, ammunitions and uniforms, including uniforms and rifle belonging DSP Mohammed Alkali and his orderly, Sgt. Urukwu Nwachukwu.
"Our forces also recovered one AK47 rifle, two G3 rifles, five Double Barrel guns, two pistols, 31 empty AK47 magazines, 242 rounds of 7.62mm NATO ammunition.
"Others are, 322 rounds of other ammunition calibres, bulletproof jackets, seven other police uniforms, 31 handsets, Automated Teller Machine Cards (ATM) and a First Aid box," he said.
Abdulkarim said the clean-up operation was in continuation of efforts by the Division to recover weapons from cultists and militants who refused to embrace Amnesty offered by Rivers' government.
He said that in spite of the just concluded amnesty programme offered by government, armed groups had continued to terrorise residents in Omoku town.
The GOC said that 15 persons including a soldier, four Civil Defence Corps personnel; two policemen and eight civilians were brutally murdered while several others kidnapped in the area in December alone.
"This trend of violence cannot be left unchecked as the Division will sustain "operation cleanup" to enable oil companies and the people to go about their businesses in peaceful environment," he said.
Abdulkarim urged the public to provide security agencies with vital information that would lead to the arrest of cultists and militants and assured that their identities would be kept in confidence. (NAN)
Bishop David Abioye of the Living Faith Church (Winners Chapel), has reminded Christians to practice obedience to God as it is more important than the economic crisis faced in the country.
Abioye said this on Sunday during his 2016 cross over message at Living Faith Church Durumi, Abuja, with the topic ""Commanding Noiseless Breakthrough in Hard Times''
He said obedience to God had more relevance because it would naturally enhance the quality of one's steps in life.
He called on Christian to practise God's covenant of obedience so that they would flourish even in hard times and opportunities would still come because no circumstance on earth can render it useless.
""Covenant people that obey the Holy Bible usually flourish even in difficult times.
""If the covenant is on the path of Grace, God's covenant is committed to deliver it.
"The quality of your life is a result of the quality of obedience you give God; this is the time to be close to God.
""Seeking the kingdom of God first will always pay to the covenant of obedience like our salaries and allowances being paid,'' Abioye said.
In reaction to the 2016 cross over, Christians expressed joy and fulfilment as they gave thanks to God for seeing them through 2016 to 2017 saying it was the beginning of a new Season in their lives.
Mr Ajibola Ogunsi, a banker described crossover as something new and significantly marked to usher in the new year and crossing the threshold of time with God.
Ogunsi said that the crossover night was used to make Biblical declarations as people go into the New Year believing God for one thing or the other.
Mrs Florence Chukwu noted that it was a platform for cooperate thanksgiving for Christians and asking God for one's desire into the New Year.
Chukwu said that at this period Christians believe that the power of the tongue as they profess would surely come to pass with great testimonies of what they have asked God for.
""It is a season with purpose; the New Year comes with new possibilities.
""When times are changing the most critical thing to locate is the word of God; the word I receive determines the reward I get."
Mrs Gladys Adamu, said that it was a time to make New Year resolutions and reconcile with God through prayers as the year begun
Adamu affirmed that it was not just to make resolutions and abandon them but to also adhere and put them into practice.
Bank Customers in the Federal Capital Territory (FCT) have expressed satisfaction with the reliable services by Automated Teller Machines (ATMs) as they made withdrawals and other transactions in preparation for the New Year.
there were relatively little or no queues in many ATM points in Abuja and its environs.
This was quite different from the scenario that played out before and during the Christmas.
Many customers at ATM points of many commercial banks around Asokoro and the Nyanya-Keffi road expressed delight that network was stable and the machines were dispensing cash.
An elated customer, Mr Mathew Ayoola, who said he spent more than three hours on the queue on Dec 24, commended the banks for being responsive and proactive to customers' needs.
"I think the banks authorities heard what we passed through during Christmas Eve, and they decided to put things in proper shape before the New Year.
"This afternoon, I just walked in and withdrew money within some few minutes.
"The situation is the same in almost all the ATM points around this road, and everybody is happy,'' he said.
In Karu, bank customers' beamed with smiles as they made withdrawal and other transactions without hitches.
Most ATM points were dispensing cash, though with short queues.
Some residents of Karu shared their thoughts on the development.
Kelechi Onuoha, a trader said he was happy that banks decided to improve upon their services to enable customers withdraw money without stress in preparation for the New Year.
"Salaries had not been paid by Christmas so many people had to take money from their alternative accounts via ATMs.
"With high demand for cash to celebrate the Christmas and many machines not working, there were many long queues but that is all gone today.
"I am happy that banks took correction and made adjustments for the New Year celebration,'' she said.
Chinenye Obi, a house wife, said "I came out early expecting to meet a long queue but I was surprised to see few people here''.
"I can now comfortably take the necessary cash I need without having people screening behind me when I want to make withdrawals.
"I have promised my children a lovely outing so this is great.
"Abuja residents will definitely have a good New year celebration.
However, the situation was a bit different in neighbouring Nasarawa State, bounded to the FCT as most of the ATMs in the area witnessed high patronage.
Checks saw many customers trying to make last minute withdraw.
At Union Bank located at New Nyanya Junction in Karu Local Government Area, many customers were seen on long queues.
Out of the eight ATMs owned by the bank, only two were dispensing cash to customers.
Mr Timothy Idoko, a civil servant said that he got his salary alert on Friday and so decided to withdraw some cash.
"I got my salary alert yesterday night and I am here to withdraw so as to celebrate New Year with my family.
"We did not travel; you know how the economy is now, so I will just withdraw small to celebrate small.
"The queue is long because only two machines are paying, but I believe I will get money today,'' Idoko said.
A female preacher from the Lord Chosen Church was preaching, while customers were making withdrawals.
The situation was not much different at Access Bank in Mararaba as the bank's ATM gallery was filled and the queue extended to outside the gallery.
Out of the 10 ATMs, only four were servicing customers.
Mr Bitrus Bahago, a business man told newsmen that the limited ATMs working were responsible for the crowd.
"If all the 10 ATMs are working, this long queue will not be there.
"Maybe the bank don't have enough money to put in the machines," Bahago said.
Another customer Mrs Mary Abashi said that she had been on the queue for close to an hour.
"People are too much here; I was at Diamond Bank near Royal Dream Hotel, that one is zero
"Maybe because other banks ATMs around Mararaba are not working, that is why people come here.
"Whether queue or no queue, I will celebrate New Year by God'Grace, Abashi said.
Long queues were seen for several hours across ATM centres in Abuja and its environs on Dec. 24, the eve of Christmas.
The long queues started building up on Dec. 23.
Some of the ATMs had unstable network, while others were completely 'out of service', and others were 'unable to dispense cash.
Most Rev. Martin Uzoukwu, the Bishop of Catholic Diocese of Minna, has said that churches cannot accomplish their projects due to the nation's current economic recession.
Uzorukwu said this in an interview in Minna on Sunday.
According to him, the economic recession is a challenge to everybody, including the church, because some churches have projects to accomplish but cannot do so because of the recession.
The cleric said the more the recession affected the church members, the more it affected the church.
"The recession is an issue every church in Nigeria is committing to God in prayer because the church needs money for the work of God and for charity. "If patients go to hospitals, only to tell stories that they can't pay hospital bills, the church writes it off for them,'' he said. According to him, the recession has "increased our burden in paying school fees for many indigent students that their parents can't help any longer
"You do know that I am a Bishop and not a Principal or an Headmaster. So, if we continue to offset bills for people, how can we maintain our schools, hospitals and then pay the staff. "The burden of the recession is taking its high toll on us and we are not relenting in prayers as we expect a radical turn around in this year 2017,'' the cleric said. Uzorukwu urged Nigerians to pray for the nation's leaders to enable them to contribute their best to the development of the country.
"There is need for them to know that they are the servants of the people and servants of God. "The commonwealth God has given to the country is for everybody," he said
The Chief Executive Officer, Capital Oil & Gas, Dr. Patrick Ifeanyi Ubah, has called for more robust social contracts between Nigerian leaders and the people in 2017, saying this would provoke unending prosperity in the country.
Ifeanyi Ubah
Ubah in his New Year Message stated that he remains grateful to God for making it possible for Nigerians to see the new year, as well as His (God’s) grace for the past year.
The message read: “While I thank God for making it possible for us to navigate through the 2016 and into the new year, I hereby urge everyone to focus on advancement of humanity in the year 2017- Let us tweak the conversation to mirror youth advancement in order to reduce the tension in our land and answer the development questions on the lips of our people.
“Let issues that border on the advancement of human cause draw our attention this year.
“Let our investments be centred on poverty alleviation and youth empowerment.
“Let our attention be redirected towards improving the living conditions of our people.
“Let us delve into issues that are in conformity with building synergy and interventionist platforms that will aid the development of our people.
“The exponential level of unemployment amongst our youths has reached alarming proportion. This calls for a new line of thought and fresh policy policy direction as we aim to stem the tide. I therefore suggest that a passionate attempt and course of action be taken to depopulate the unemployment camp.
“Focusing on the career development of our youths should be pursued with vigour by everyone of us if we must recreate the middle class stratum which is the engine room of any strong and viable economy.
“We as a people should propagate the ideals of buying made in Nigeria products in order to enhance our production sector which will in turn lead to increase in job creation for our youths.
“We should redirect our compass to agro business by modeling our economy after countries that have succeeded in this perspective. This calls for synergy and well crafted development partnership that will see us move up the ladder of agriculturally advanced economies.
“Our tourism industry should receive a noticeable attention aimed at massive development and not the type that ends up on the pages of newspapers and screens of our televisions.
“Progress was made in our football sector last year, but more needs to be done. I pray that our people should play their role as together we can take our sports sector to enviable heights. We can do it. Let’s shift our passion from European based club football to Nigerian based club football, so that we can create a football driven economy.
“I call for more social contracts between the leaders and the led in 2017 as that can provoke unending prosperity. Let us change the National conversation today…”
Mr and Mrs Ado's eight children had looked forward with great expectation to celebrate the Christmas with pomp and pageantry, at least within their financial capacity. A week before Christmas, in their one-room apartment in Awori, Majidun area of Ikorodu, Lagos state, they had planned where they would visit.
On the D-day, an unkind fate dashed their hope and shattered their excitement leaving them rather, with sad memories.
Crime Guard gathered that as early as 7am that fateful day, the eldest son, Chidera Odoh, 17, joined his mother, Christiana in hawking rice and pepper soup after leaving some at home for the family to eat. They planned to use the proceeds for Christmas celebration.
We gathered that on arrival, a heated argument ensued between Christiana and her husband, Romanus which snowballed into a big fight. Christiana was said to have stabbed her husband with a kitchen knife in the stomach.
The 55-year-old Romanus reportedly died moment before reaching hospital.
Conflicting cause of fightMrs Romanus Odo
There were however conflicting reports on the cause of the scuffle between the couple. A version said it was caused by the refusal of the deceased to provide money for his family to cook for the Christmas.
But the bereaved children described the version as false, saying that the heated argument which degenerated into a fight between their parents, occurred after their father accused their mother of infidelity.
When Crime Guard visited the children in Ikorodu, they looked a shadow of themselves. As at 12 noon Thursday, some of them were yet to take their break fast .
After a long wait for an approval from a relative, the eldest son, Chidera, explained how life was snuffed out of their father.
He said: " My mother did not intentionally kill my father. She never meant to stab him, it was all a mistake". At this point, he paused when his siblings began to cry.
Continuing, Chidera said: "When my mother and I returned from the market where we went to sell rice and pepper soup on Christmas day, she went straight to bed, saying she was tired.
Later, daddy came back home drunk and also went to bed. The next thing we heard was mum telling dad to leave her alone. He started accusing her again of visiting some of her boyfriends. Dad was fond of accusing my mother of having an affair with any man that came to buy rice and pepper soup from her.
"They started quarrelling and dad stood up from the bed and broke a bottle which he threatened to stab my mother with. I held my father , begging him not to carry out his threat. One of our neighbours, uncle Kola who came in, collected the broken bottle from my father.
"But daddy rushed out and came back with a kitchen knife which he threatened to stab my mother with. My mother moved closer to him to collect the knife. But in the process of struggling with him, it pierced into my father's stomach. When my mother noticed what happened, she called out for help. I was among those who rushed my father to the hospital, where he was confirmed dead on arrival", he said in tears.
Crime Guard gathered that when news of the death of the Ebonyi state father of eight filtered in , occupants of the building held Christiana until the arrival of policemen from Ajegunle division. They whisked her away.
The suspect's younger sister, Mercy Eze, also told Crime Guard that aside accusing her sister of infidelity, the deceased was also fond of beating her sister.
She revealed that her sister had been responsible for the family's upkeep for a long time, alleging that the deceased usually left home for a week without deeming it fit to drop money for the children's feeding. She lamented that rather than get a pat at the back, her sister's late husband would beat her and accuse her of cheating on him.
According to Eze," My sister has lost some of her teeth due to constant battering. Any time her husband came back drunk, he would pounce on her . This accusation had been on for long but my sister would always say that she was only holding on because of her children."
But some members of the bereaved family did not buy the explanation as they insisted that Christiana allegedly stabbed their brother to death because of his inability to provide money for Christmas food.
One of them who gave his name simply as Andrew said that the family would soon come up with its position on the matter.
"For now, I can not speak on behalf of my family because I have not been authorised to do so. What we heard was that she had been threatening to kill our brother and now she has carried out her threat. We leave the police to do their work", he said.
Appeal to Police, government
Meanwhile, the children have appealed to the Police to carry out discreet investigation with a view to ascertaining how their father died. They also called on the Lagos State government to come to their aid.
Chidera said "As it is, we are like orphans. Our father is no more and our mother who used to cater for our feeding and other responsibilities is being detained by the police. Since the incident happened, we have been feeding from hand to mouth. Neighbours and relatives have been coming to check on us. But how long will this go ?.
Christiana , has been transferred to the State Criminal Investigation and Intelligence Department , SCIID, Yaba for further investigation , from where she would be charged to court.
U.S. President-elect Donald Trump on Saturday rattled China once again as he left open the possibility of meeting with Taiwan's president if she visits the United States after he is sworn in on Jan. 20.
He also expressed continued scepticism over whether Russia was responsible for computer hacks of Democratic Party officials.
In remarks to reporters upon entering a New Year's Eve celebration at his Mar-a-Lago estate, Trump said, "We'll see," when pressed on whether he would meet Tsai Ing-wen, Taiwan's president if she were to be in the United States at any point after he becomes president.
Taiwan's president will be in transit in Houston on Jan. 7 and again will be in transit in San Francisco on Jan. 13.
Trump, citing protocol, said he would not meet with any foreign leaders while President Barack Obama is still in office.
Beijing bristled when Trump, shortly after his Nov. 8 victory, accepted a congratulatory telephone call from the Taiwan leader and has warned against steps that would upset the "one-China" policy China and the United States have maintained for decades.
Talk of a stop-over in the United States by the Taiwan president has further rattled Washington-Beijing relations.
On another foreign policy matter, Trump warned against being quick to pin the blame on Russia for the hacking of U.S. emails. The Washington Post also reported on Friday that Moscow could be behind intrusion into a laptop owned by a Vermont electric utility.
U.S. intelligence officials have said that they are confident Russia was behind the hacks of political figures, which could have played a role in Trump's victory over Democratic presidential candidate Hillary Clinton.
"I think it's unfair if we don't know. It could be somebody else. I also know things that other people don't know so we cannot be sure," Trump said.
Asked what that information included, the Republican President-elect said, "You will find out on Tuesday or Wednesday."
He did not elaborate.
But he said that any computer is subject to hacks.
"It's very important. If you have something really important write it out and have it delivered by courier the old fashioned way," Trump said, adding, "No computer is safe, I don't care what they say."
Trump tried to end the year on a positive note, however, despite questions about the future of U.S.-Russia relations because of escalating tensions between Obama and Russian President Vladimir Putin, as well as Trump's promise to crack down on China's trade practices, which he says unfairly target American workers.
"Hopefully we're going to have great relationships with many countries and that includes Russia and that includes China," Trump said.
But he criticized U.S. Secretary of State John Kerry for earlier this week offering a stark assessment of Israel's policies in the Middle East, which he said could threaten the possibility of establishing a Palestinian state co-existing with Israel. Trump called Kerry's speech "very unfair."
As he wrapped up a four-minute informal chat with reporters, Trump also was asked what his 2017 new year's resolution was.
The All Progressives Grand Alliance (APGA) has urged President Muhammadu Buhari not to replace the normal government function of governance with the so-called anti-corruption efforts to avoid failing Nigerians in his campaign promises.
President Buhari
This is contained in a New Year message on Sunday and signed by the party's National Director of Publicity, Ifeanacho Oguejiofor.
The party who wished its members, supporters and Nigerians a pleasant and remarkable New Year celebration with hope, also urged Nigerians to show care and love one another by being their brother and sister’s keeper, and to always engage in things that will promote peace, common good and development of the country.
The statement read: "Though the party resolved at the inception of the current federal government's administration not to criticize the APC led government without any justifiable reason especially within the one and half years period because it expected that the government needed some time to find its footing, however, later events so far have given the party cause for concern.
"Thus, APGA is worried, for example, that the current administration is treating its anti-corruption war as a replacement for the normal government function of governance. This approach has to be really changed if the APC government is to turn round the faltering and depressing economy."
Oguejiofor said that while there is improvement in the war against Boko Haram, new theatres are opening in the South East and South South mostly due to government's poor handling of the hitherto minor agitations, and therefore urged the government to use practical approaches that are less confrontational to resolve the issues.
He also also condemns the activities of killer herdsmen that do not seem to get the level of attention that groups like the Biafra agitators from the federal government and urged the security agencies to be proactive and end the crisis.
He advised the Independent National Electoral Commission (INEC) to be mindful of the poor and negative public perception of its electoral activities, saying the bizarre and shenanigans of manipulation of vote and allocation of scores, as witnessed during the bye-election of the Toto/Nasarawa federal constituency, in Nasarawa State, and the last Edo State governorship election was disturbing.
“The body should stop its officials from conniving with some unscrupulous Politicians and law enforcement Personnel on election duties from writing false election results. Also, it should guide against the body’s seemingly general disposition as if it were a department of the ruling All Progressives Congress (APC)," he added.
Ilorin – The authorities of the University of Ilorin has described as untrue the fraud allegation against its Vice-Chancellor, Prof. AbdulGaniyu Ambali, and his predecessor, Prof. Is-haq Oloyede, who is now the Registrar of the Joint Admissions and Matriculation Board (JAMB).
A release signed by Mr Kunle Akogun, the institution's Head of Corporate Affairs, described the allegation as "largely empty merely rehashed to make it look real.''
The News Agency of Nigeria (NAN) reports that some officers of the South-West Zone of the Academic Staff Union of Universities (ASUU) had last Wednesday submitted a petition to the Ibadan office of the EFCC.
They accused the two dons of pension fund fraud running into N2.5 billion and called on the anti-graft agency to institute a probe into the matter.
Akogun described those behind the petition as " enemies of progress'' who are aghast at the pace of progress and continual giant strides being daily recorded by the university where transparency, honesty, accountability and due process were the key elements of administration.
He said there was nothing new in the allegations contained in the petition, adding;"the same fellows made the same allegations in August this year while shamefacedly kicking against the nationally acknowledged well-merited appointment of Prof. Oloyede as the Registrar of JAMB.''
"And of course, no one took them seriously, as even President Muhammadu Buhari, who is well-known for his zero tolerance for corruption, is not unaware of the due diligence credentials of the successive administrations of the University of Ilorin," he said.
" What the administration of Prof. Oloyede did was what the law and ICPC directed all universities to do: that instead of the 7.5 percent being hitherto deducted from the basic salary of workers, the deduction ought to have been from the gross emolument,'' he said.
He pointed out that it was that clarification that had since guided the university management's action.
The university spokesman said that the deductions were being credited to the Pension Fund Administrators' (PFA) accounts as at and when due till the government started the deduction from source.
"It is also fallacious to allege that the university management did not carry the unions along in all these.
" The truth is that management met with the unions on the new development and all parties agreed that the PFAs should be credited the full 7.5 per cent.
"It was the initial under-deduction that was spread for payment over a 24-month period. This had since been concluded a couple of years ago,'' Akogun said.
He described the petitioners as "disgruntled elements " and " remnants of the notorious 49.''
Akogun pointed out that their activities within the last one year had been targeted at disrupting the well-known uninterrupted academic calendar of the University.
He said they have tried all the tricks in the book to infiltrate the students' body and brainwash them to take unconstitutional action against the management.
The plots, he said, have so far failed, adding that this had probably accounted for the resort to the " long-knife tactics of crying wolf where there was none just to blackmail the progressive administration of the better by far university.''
Akogun also said charges for students' PC tablets were statutory charges for extra facilities provided for the academic comfort of students to make teaching and learning very conducive for them.
"It is on record that the University of Ilorin pioneered the one-student-one-iPad initiative in the country during the 2013/2014 academic session. And this policy has been steadily executed seamlessly since then," he added.
He, however, explained that the vagaries of the national economy which led to the fluctuation of the national currency against the dollar led to the marginal increase in the cost price in the current 2016/2017 academic session given that the PC Tablets were not produced in the country.
'This is also responsible for the slight delay in distributing the equipment to the students.
"The university management already has a firm commitment from the supplier to deliver the remaining tranche of the PC Tablets early in the New Year for onward distribution to the students concerned," Akogun said.
While welcoming the submission of the petition, the school management said: "We are certain that the anti-graft agency will duly consign it to where it rightly belongs: the trash can.''
Eighteen-year-old, Ojo Ogunlaja (AKA Mr. Gula), a 100 Level student of Sociology from the Lagos State University, LASU, Ojo, has emerged winner of the first edition of Lagos Got Talent competition.
Ojo Ogunlaja (AKA Mr. Gula)
Ojo, who represented Epe zone alongside 11-year-old, Opeyemi Ishola, another rapper, beat other finalists who had earlier emerged from zonal auditions which originally produced 250 talents.
Contestants at the finale included a pair of contortionists, 3 rappers and a group of dynamic dancers.
While expressing his excitement over the victory, Ojo revealed that he had lost both parents in his family of 7 at a very young age, and that the loss served as his main motivation all through the competition.
The winner and runners-up, Mariam Abiodun (AKA Caddy Bliss,) and the duo of Popoola Tobilola and Gbadamosi Joseph, were all congratulated by the Lagos State Governor, Akinwunmi Ambode, and encouraged to continue to hone and perfect their talents.
One person was seriously injured when a suicide bomber aged around 10 blew herself up in a New Year’s Eve attack in the northeastern Nigerian city of Maiduguri, witnesses and aid workers told AFP Sunday.
The girl approached a crowd buying noodles from a food vendor in the Customs area of the city around 9:30 pm on Saturday and detonated her explosives, they said.
Although no one has claimed responsibility the attack bore the hallmark of Boko Haram Islamists who are notorious for using suicide bombers, mostly women and young girls, in attacking civilian targets.
“The girl walked towards the crowd but she blew up before she could reach her target,” said witness Grema Usman who lives in the area.
“She died instantly, while one person was seriously hurt after after he was hit by shrapnel.”
“(Judging) from her corpse the girl was around 10 years old,” Usman said.
An aid worker involved in the evacuation of the body gave a similar estimate of the bomber’s age.
“The girl was clearly not more than 10 and this could have made her too nervous, making her to detonate the explosives prematurely,” the aid worker suggested.
Borno state police spokesman Victor Isuku, meanwhile, said a second female suicide bomber was caught and lynched by an angry mob. Her bomb was safely detonated by security forces, he said.
In December two girls aged between seven and eight detonated explosives in suicide attacks on market in the city, injuring 19 people.
Authorities blamed the attack on Boko Haram, whose seven-year insurgency has killed 20,000 people and displaced 2.6 million others. The conflict has spilled into Nigeria’s northern neighbours.
Saturday’s attack came a week after Nigerian President Muhammadu Buhari said the jihadist group had been routed from Sambisa forest, its last stronghold in Borno state.
The One Lagos Fiesta celebrations have come to an end, closing with the biggest New Year’s Eve countdown Nigeria has ever seen, and it was truly epic.
King Sunny Ade performing at the grand finale of One Lagos Fiesta
However, for those who missed out on the event, here are 5 things they'd wish they had witnessed live.
The Musical Performances
From King Sunny Ade to Lil Kesh, Tiwa Savage to Olamide, most of the biggest names in the industry were on ground to thrill and entertain the crowd.
The Governor of Lagos State, Akinwumni Ambode
For millions of Lagosians who have never had the opportunity to meet the state Governor, the finale was the perfect opportunity, as the governor not only made an appearance, he also addressed the people of Lagos.
The New Year Countdown
Nothing beats sharing one voice with millions of people, watching the seconds tick away on 2016, while ushering in 2017 to an amazing display of fireworks that is unrivaled in the country.
The 'Agba Meta' Statue
If you're familiar with Lagos, then you'll know the famous 'three wise men' or Agba meta statue. Interestingly, that statue made an appearance at the finale, and thrilled the crowd with moves from Michael Jackson's 'Thriller' courtesy of the dance group Dance Na The Main Thing.
DJs Jimmy Jatt, Spinall, Caise and Lambo
Nothing sets the tone for a great night better than music, but having the best of the best Nigerian DJs under one sky was just downright amazing! There really are no words to describe the experience.
