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Author: Alpha Maidawa

Corona: My son not at play lounge, any other club in Abuja – Atiku
Former Vice President, Atiku Abubakar has debunked reports that his son who was currently undergoing treatment for Coronavirus (COVID-19) infection was at Play Lounge Club in Abuja after returning to the country.
Abubakar in a statement issued by his Media Adviser, Paul Ibe on Monday in Abuja, described the report as mischievous.
“For the purpose of putting the records straight and dispelling false narratives about the itinerary of a son of former Vice President, Abubakar currently undergoing treatment for COVID-19 infection, I wish to make the following clarifications:
“The clinical case returned to the country on March 17 via Switzerland from some business engagements in France and Switzerland.
“He attended a private meeting of six persons same day in Lagos, stayed in his private house for the night and took an Aero 5.20pm flight to Abuja on the March 18.
“The case did not travel with his family or any other but travelled alone by Emirates Airline.
“The case wore face mask as a precautionary measure since his arrival in Nigeria.
“The case did not show symptoms of infection and voluntarily placed a call to National Centre for Disease Control (NCDC) on arrival in Abuja late on March 18 to inform them he had returned from COVID-19 prone country and desired to be tested,” he said.
He noted that on March 19, NCDC took the case blood sample and the result was positive on March 20.
It added that the son of the former vice president subsequently went into self isolation to protect his family within his own house.
“Meantime, his son has since tested negative while his wife’s result is being awaited. The two persons are currently in self isolation.
“We urge members of the public to disregard the perfidious information that the case accessed open locations. He was not at Play Lounge nor any other club in Abuja as being mischievously bandied about.
“The case neither attended the Friday Jumu’a prayers nor any social gathering until his evacuation to Gwagwalada Specialist Hospital on the March 20, where he is being treated and managed.
“It thank Nigerians for their prayers and support through this difficult time.
“Once again, it needs to be restated that the risk and danger of #COVID-19 is real. Ensure you follow the World Health Organisation (WHO) and NCDC guidelines on how to stay safe,” he added. (NAN)
March 24, 2020
Lagos Speaker denies awarding ‘illegal contract’ to self
Speaker, Lagos House of Assembly, Mr Mudashiru Obasa, has denied allegations that he awarded illegal contracts to himself through companies registered in son’s name as published online on Saturday.
Obasa denied the allegation during plenary on Monday.
The report said the speaker allegedly owned several companies used for receiving contracts from the Lagos State Assembly and ministries as well as launder public funds.
The companies included, Adesav International Ventures, Quick Solution International Ventures, White Honey Enterprises, Cream on Ice Services, A.B DELCO Nigeria Company, and Fabric Splash Ventures.
Others were, Skye-Macosh Company, Swifthill International Ventures, Silver Section Global, Davedab Global Ventures and Jose Macosh Company.
However, Obasa, challenged the media outfit to publish the contract date, location, amount and contractual agreement.
He said: “Let me also join my colleagues to emphasise that what was published had nothing to do with me.
“I said it two weeks ago during plenary when publication was out about the existence of the kingdom which I made my position known on that.
“But the fact remains that the kingdom has no relationship with the Lagos State House of Assembly.
“At least, they have alleged and they must be able to prove by giving out the name of such contracts, the amount, the location, the date and the contractual agreement.
“So, with this, the public will be better convinced that truly such allegation exists,” said the Lagos Speaker.
According to him, there is no relationship between the kingdom and Lagos State House of Assembly.
He said the media outfit could prove him wrong if they had the necessary proof.
Speaking earlier, the Clerk of the House, Mr Azeez Sanni, who brought the matter to plenary, said that the house did not in anyway award contracts to the mentioned companies in the report published by the media outfit.
“Mr Speaker! Let me seek your indulgence to speak on the publication in which some allegations were made regarding the house.
“As the clerk of the house and Head of Administration, I want to say categorically to the public that this house has not had any business dealings with the mentioned companies,” he said. (NAN)
March 24, 2020
COVID-19: PDP suspends political activities
The Peoples Democratic Party (PDP), has suspended all activities bordering on congresses, rallies and other large gathering of members of the party across the federation.
The party, in a statement issued by its National Publicity Secretary, Mr Kola Ologbondiyan, on Monday in Abuja said the decision was sequel to the earlier decision of the party to shutdown activities at its secretariats and offices across the country.
Ologbondiyan said the decision had become imperative in respect to the need for continuous social distancing and other health safety measures against the spread of COVID-19 in our country.
“The PDP enjoins the Federal Government to continue to review situations as they concern the fight against the spread of COVID-19 and take measures, even if stringent, to safeguard lives.”
The party earlier directed a partial shutdown and skeletal activities at the party’s National Secretariat, Abuja from Wednesday, March 25.(NAN)
March 24, 2020
Sen. Oko dead in UK hospital
Sen. Rose Oko, representing Cross River North Senatorial District of Cross River is dead, aged 63.
The late Oko, who died last night at a UK hospital, was the Chairman, Senate Committee on Trade and Investment.
A close aide of the late senator, who preferred anonymity, said her demise came as a shock to her staff.
The National Assembly has yet to issue official announcement of her death as at the time of filing this report.
Oko, was a member of the Federal House of Representatives from the People’s Democratic Party (PDP), representing Yala/Ogoja Federal Constituency in the 7th National Assembly.
She was elected into office as the first female representative from her constituency in June 2011 and was Deputy Chairman, House Committee on Education.
She was also elected into office as the first female representative from her Senatorial District in June 2015.(NAN)
March 24, 2020
COVID-19: Africa needs $100bn economic stimulus — finance ministers
Africa needs an immediate emergency economic stimulus to the tune of 100 billion dollars, owing to the COVID-19 outbreak, the African Finance Ministers have said.
This is contained in a statement by Communication and Media Relations Department of the group, which was made available to News Agency of Nigeria (NAN).
It explained that it was part of decision of the African Finance Ministers who met on March 19, in a virtual conference to exchange ideas on the efforts of their respective governments in dealing with the social and economic impacts of COVID-19.
The ministers said as such, the waiver of all interest payments, estimated at 44 billion dollars for 2020, and the possible extension of the waiver to the medium term, would provide immediate fiscal space and liquidity to the Governments in their efforts to respond to the COVID-19 pandemic.
According to them, the interest payments waiver should include not only interest payments on public debt, but also on sovereign bonds.
The ministers agreed on the need to consider waiving principal and interest and encourage the use of existing facilities in the World Bank, International Monetary Fund (IMF), African Development Bank (AfDB) and other regional institutions for the fragile states.
They underscored the need to support the private sector and protect about 30 million jobs at risk, particularly in the tourism and airline sectors across the continent.
In other critical sectors including agriculture, imports and exports, pharmaceuticals and in banking, the finance ministers agreed that all interest and principal payments on corporate debt, leases, extended credit facilities, refinancing schemes and guarantee facilities should be used to waive, restructure and provide additional liquidity in 2020.
They further said 1that a liquidity line should also be made available to the private sector to ensure the continuity of essential purchases and all SMEs that were dependent on trade could continue to function.
According to them, these measures, must accompany a policy of opening borders for trade and that Europe and the United States, in particular, can build this in as part of their stimulus to their private and financial systems. (NAN)
March 24, 2020
COVID-19: Kebbi Govt seeks way out of dwindling revenue
Kebbi Government on Monday convened a stakeholders meeting to proper a way out, as future federal allocations seem bleak following the crash of oil prices in the international market.
The meeting involved government officials, labour unions
traditional rulers, 21 local chairmen and members of Kebbi House of Assembly.
The meeting was to come up with suggestions on what the state would do to shore up its internally generated revenue and collections in the midst of present financials uncertainties.
According to Gov. Abubakar Bagudu the state is exploring opportunities in other sectors to remain buoyant.
“We are coming together to think of a future without oil as we don’t want to copy other states, rather we want to lead the way for others to follow,” he said
Bagudu told newsmen after the meeting in Birnin Kebbi that they discussed the adverse effects of the crash in oil revenues and a way out.
“We want to be less dependent on oil revenue, and we have accepted a proposal that a committee be set up to spearhead the development and come up with suggestions that will help us to address the current economic realities because of the Coronavirus.”
Earlier, the Permanent Secretary, Budget and Economic Planning, Hajiya Aisha Usman, revealed that the current economic realities had impacted negatively on the state’s 2020 budget.
“Crude oil prices were estimated at $57 per barrel as per the federal government 2020 budget critical assumptions, with crude oil prices falling below cost of production averaging $17 and $30 respectively, accrued revenues and future federal allocations seem bleak,” she said.
She said that the state 2020 budget was also prepared on certain critical assumptions based on the crude oil price of $57 per barrel.
“Statutory allocation was to contribute about N49.6 billion which is 36 per cent of the budget based on the benchmark oil price of $57 per barrel.”
The permanent secretary, however, lamented that the current and forecasted events clearly indicated that the state government finances would be badly affected.
She therefore urged the meeting to come up with strong and workable recommendations to ease out of the present circumstances. (NAN)
March 24, 2020
FAAC shares N581.5bn for February
The Federation Accounts Allocation Committee (FAAC) has shared the sum of N581.566 billion to the Federal, States and Local Governments for February.
Mr Henshaw Ogubike, Director Press and Public Relations in the Office of the Accountant-.General of the Federation made this known in a statement in Abuja on Monday.
Ogubike said this was announced after a rescheduled meeting of the FAAC held in Abuja.
He explained that the N581.566 billion comprised Statutory Revenue, Value Added Tax (VAT), Exchange Gain, and revenue from Forex Equalization Account.
Ogubikeķ said the Federal Government received N236.118 billion, the State Governments got N159.010 billion while the Local Government Councils received N119.305 billion.
He further disclosed that the Oil Producing States received N45.310 billion as 13 per cent derivation revenue while the Revenue Generating Agencies received N21.822 billion as cost of revenue collection.
The official said the gross statutory revenue for the month of February was N466.058 billion, adding that it was lower than the N525.253 billion received in January 2020 by N59.195 billion.
Ogubike noted that for the month of February, the gross revenue available from VAT was N99.552 billion as against N104.758 billion in the previous month, resulting in a decrease of N5.206 billion.
He added that Exchange Gain yielded a total revenue of N0.757 billion, and revenue from Forex Equalisation Account was N15.199 billion.
“A breakdown of the distribution showed that from the gross statutory revenue of N466.058 billion, the Federal Government received N214.915 billion, the State Governments got N109.008 billion and the Local Government Councils received N84.040 billion.
“The Oil Producing States received N43.242 billion as 13 per cent derivation revenue and the Revenue Generating Agencies received N14.853 billion as cost of collection.
“From the VAT revenue of N99.552 billion, the Federal Government received N13.888 billion, the State Governments received N46.292 billion, the Local Government Councils got N32.404 billion and the Revenue Generating Agencies was given N6.969 billion as cost of revenue collection.
“The Forex Equalisation Account revenue was N15.199 billion. The Federal Government received N6.966 billion, the State Governments got N3.533 billion, the Local Government Councils received N2.724 billion and the Oil Producing States had N1.976 billion,” he explained.
The director said the committee also announced that the balance in the Excess Crude Account (ECA) was 72.221 million dollars. (NAN)
March 24, 2020
COVID-19: FIRS boss urges personnel to brace up for more revenue generation
The Federal Inland Revenue Service (FIRS) has urged hisvpersonnel to brace up to generate appreciable revenue especially now that other revenue sources have been affected by COVID-19 outbreak.
The Executive Chairman of FIRS, Mr Muhammad Nami gave the charge at a retreat organised for its tax operations group in Abuja on Monday.
He urged the staff to take up the challenge and justify the confidence the country had reposed in them, especially at this critical time when virtually all the other sources of revenue for Government were being challenged by the Coronavirus pandemic.
Muhammad explained that the downward slide in the price of oil at the International Market for as low as 30 dollars per barrel against 57 dollars benchmark used for the budget was worrisome.
“This gap has to be bridged somehow, and you are that bridge. Therefore, at the end of this retreat, I expect you to go back to your respective stations with the work plans and a renewed determination to face this challenge squarely.
“I assure you very strongly that this administration will always support you all the way. I want you to also note that this administration is mindful of your welfare as well as conscious of your need for necessary tools and facilities to enhance your work.
“We shall not relent in providing the right environment for you to succeed. That is why since I came on board, I have taken the following decisions to facilitate your delivery on the job.
“We reverted certain authorisation domiciled at Headquarters to you for instance, utilisation of credit notes, Operational letters, issuance of TCCs to mention a few.
“Examination of account has also been restored as well as proper segmentation in tax Administration consistent with global best practices was reinstated
“When the Federal Government set the N8.5 trillion target, it must have realised that we are equal to the task. As hub of the operations of the service, you are therefore, expected to deliver the bulk of the Target while the other groups support you.”
Nami said that the retreat essentially provided the opportunity to inform the group the goals and objectives for the year which were earlier agreed upon at the Corporate Retreat of the Service. (NAN)
March 24, 2020
COVID-19: NSE to shut trading floors effective March 25, resorts to remote trading
Following the raging effect of COVID-19 in country, the Nigerian Stock Exchange (NSE) will effective March 25 temporarily close its trading floors and engage in remote trading.
Mr Oscar Onyema, NSE Chief Executive Officer, said in a statement on Monday in Lagos that the decision became imperative due to recent developments in the country.
“Over three weeks ago, we activated precautionary health measures across our offices where we screened visitors with thermometers, provided sanitizers and minimized access into our premises.
“Further to this and with the significant growth in new cases, effective March 24, we have activated a 30-day remote working plan for our employees excluding essential staff.
“In order to give our dealing members enough notice, effective March 25, all our trading floors will be temporarily closed, although remote trading will continue and NSE staff will be available through all our digital platforms to provide support.
“We regret any inconvenience this may cause in the discharge of your business activities, but we must act in the best interest of all stakeholders at this time.
“In line with our robust Business Continuity Management framework, we would like to reassure you that we have put in place measures to ensure our operations and trading activities continue seamlessly throughout this period.
“As an exchange, we will ensure that all relevant information continues to flow into the market to ensure the pricing of risk assets remains transparent and reliable across asset classes to allow investors to value their portfolios and make informed investment decisions under these volatile conditions.
“Dealing members are, therefore, encouraged to continue to trade remotely via our electronic platforms such as FIX protocol and XNET, and reach out to their Compliance Officer if any support is required. Please note that we will provide manual support to members without remote access during this period.
Issuers who have any business to conduct with The Exchange can reach out to their Relationship Manager for guidance.
“You should continue to submit all regulatory filings via Issuers’ Portal (X-Issuer).
“As the Exchange embraces social distancing as prescribed by Nigeria Centre for Disease Control (NCDC), we have further engaged with the Federal Government on issues of Annual General Meetings, maturing financial instruments, financial reporting, to mention a few and appropriate updates will be provided in due course.
“Furthermore, all physical meetings within and outside our office premises have been suspended until further notice. We have instructed our employees to leverage technological tools to conduct meetings virtually. We assure you that our virtual lines of communication will remain open to engage with you and attend to your need.
“Please contact us via e-mail, mobile phone or other digital channels if you have any questions, comments, complaints or observations in this regard.
“We understand that these are trying times, but we are committed to ensuring we do not experience any disruptions to our operations. As we navigate this new reality, we encourage you to follow our various communication channels as we continue to share relevant updates,” Onyema said. (NAN)
March 24, 2020
SWAN begs Kwara governor to assist injured Kwara United player
The Kwara chapter of the Sports Writers Association of Nigeria (SWAN) has appealed to Gov. Abdulrahman Abdulrazaq to give the injured Kwara United player, Abdulsalam Abdulsalam, special treatment considering the nature of his injury.
The appeal was made on Monday in Ilorin when executive members of SWAN paid the player a visit at the General Hospital, Ilorin.
Abdulsalam sustained a fracture on his left leg a minute into Kwara United’s 1-0 victory over Wikki Tourists of Bauchi in Nigeria Professional Football League, (NPFL) match day 24 in Ilorin.
The state SWAN Chairman, Malam Jimoh Bashir, said considering the nature of the injury and past experiences, Abdulsalam needed special treatment, and if need be, should be flown abroad to ensure adequate treatment.
“Experiences have shown that this kind of injury must be treated abroad so that the young boy can return to playing football again soon.
“We are appealing to His Excellency, Alhaji AbdulRahman AbdulRazaq, not only as a governor, but as a father who will do anything to sustain the career of his child.
“We believe the special treatment will make him recover on time and his career will not be at danger at all,”Bashir said.
He commended the governor for giving serious attention to sports development since he assumed office, especially with the return of the state’s sports festival after it was abandoned for more than 15 years.
Bashir also commended the management of Kwara United for its proactive measure and for assuring the player of the best of medical treatment.
He further commended the staff, players and other stakeholders for rising to the occasion which ensured that the player was not neglected.
The chairman presented some items to the player on behalf of the association as its token toward his treatment.
Responding, Abdulsalam thanked the SWAN executive for standing by him and wished them well in all their undertakings. (NAN)
March 24, 2020