FG May Not Be Able To Pay Salaries From October - CBN Governor

FG May Not Be Able To Pay Salaries From October - CBN Governor

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Nigerians would be forced to pay general taxes which would not exclude petroleum products from October if the economic condition in the country does not improve

The CBN governor, Godwin Emefiele, in a presentation told senators that the country’s economy has been characterised by external shocks, sharp decline in commodity prices and geo-political tensions along important global trading routes among others – The IMF says it expects Nigeria’s economy to contract by 1.8 percent this year, after having forecast in April a 2.3 percent expansion

The federal government might not be able to pay salaries of its workers with effect from October this year if the current economy decline continues.

According to Vanguard, this disclosure was made by the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele on Tuesday, July 19, during a closed-door meeting with senators over the state of the economy.

The CBN governor who told senators that the economy of the country was in a bad state said if the present situation in the country continued, Nigerians would be forced to pay general taxes which would not exclude petroleum products.

In the meeting which lasted for an hour, Emefiele presented a comprehensive account of the economy in the last one year which, according to him, had been characterised by external shocks, including sharp decline in commodity prices, geo-political tensions along important global trading routes and tightening monetary policy in the United States.

After the presentation, some senators asked a host of questions and raised issues concerning the banking system, the stagnant economic growth and the gradual rise in inflation among others, which the CBN governor responded to.

Following an exhaustive response by both the governor and his team, the Senate acknowledged that these are, indeed, difficult times all over the world and not just in Nigeria. It also backed the monetary policies of the CBN, noting that at the end of the day, such policies would help to increase local production, create jobs in the country.

Meanwhile, the International Monetary Fund (IMF) on Tuesday, July 19, said a combination of plunging oil revenues and weakened investor confidence will push the Nigerian economy into recession. The IMF said it expects Nigeria’s economy to contract by 1.8 percent this year, after having forecast in April a 2.3 percent expansion.

The decline in the nation’s economy has been attributed to the renewed bombing of pipelines by militants in the Niger Delta region and the 70 per cent decline in oil prices from about $116 per barrel in June 2014 to about $30 per barrel earlier in the year.

Buhari Appoints Another Northerner As Chief of Defence Intelligence

Buhari Appoints Another Northerner As Chief of Defence Intelligence

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Following the myriad of security challenges facing the country particularly the resurgent militancy in the Niger Delta, the federal government yesterday appointed a new Chief of Defence Intelligence (CDI) for the armed forces.

He is Air Vice Marshal Mohammed Saliu Usman. He takes over from Major General John Saduana Davies, who had been on acting Capacity since January this year, when the former CDI, Air Vice Marshal Monday Morgan retired.

According to the Armed Forces Statutes, the position of Chief of Defence Intelligence (CDI) which is the apex in the intelligence community is rotational among the services.

With the Army and the Navy serving their terms of three years, it fell to the Airforce but AVM Morgan who got appointed when President Mohammed Buhari assumed office in 2015, was caught up with (ROD), ‘run out date’ and had to retire.

Major General Davies was therefore appointed on acting capacity until a suitable CDI whose recommendation was approved by President Buhari was appointed.

Air Vice Marshal Usman, was until his appointment, the Director of Air Intelligence at NAF HQ. He had served at the Defence Intelligence Agency as the Director of Intelligence before he was appointed Director of Air Intelligence.

In his career, he was an instructor at the Armed Forces Command and Staff College, Jaji and the Defence Intelligence School, Abuja. He was also a onetime Security Officer to a former Chief of Air Staff, Air Marshall Isaac Alfa (rtd).

Speaking while taking over at DIA, AVM Usman expressed gratitude to God and to President Buhari for the appointment promising to work in harmony with the services to ensure peace and security for the nation.

“Eight months ago, I was posted from here (DIA), to the NAF headquarters. I never knew that I will come back this way. I have taken it as an act of God. My doors will be open to all and I will be fair to all and I will carry everybody along”, he told officers and men of the Agency.

“I want to urge all of you to be up and doing because we are in challenging times. Let us put integrity into all that we are doing. Let us consider DIA as one family and let our actions speak for us” he said.

The CDI congratulated Major General Davies for his services to the nation noting that “during the short time he spent as Acting CDI, he took the organization to a very high level adding, “I will continue from where he stopped.

Read Why Northern Politicians Are Angry With Buhari

Read Why Northern Politicians Are Angry With Buhari

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Dr. Junaid Mohammed, a sharp critic of former President Jonathan, has bared the mind of most northern politicians on the Buhari led administration.

In a telephone interview with reporters, Junaid expresses disgust at the way the man the North supported runs the presidency.

Hear Junaid yourself:

“As far as we are concerned, the president’s principal adviser, his nephew, is one nonentity called Mamman Daura.

“Then there is his Chief of Staff [Abba Kyari], who was brought up by Mamman Daura.

“And the scoundrel who is the Secretary to the Government of Federation [Babachir David].

“Then most of the incompetent ministers, whom are not cut out to work harmoniously with the legislature.

“And of course, there is the unfortunate additional bad luck of Buhari being surrounded by his own relations who are not politicians.

“For instance, Mamman Daura, virtually runs the government. He has veto power.

“There have been instances when Buhari gave written approval for things to be done, and that man threw the paper away.

“He has become such a tyrant in the Presidency. He is a nephew to Buhari.

“His father was the elder brother of Buhari.

“Although their age difference is about three years, his father is an elder brother to Buhari and they grew up together.

“[Abba Kyari] was brought up by Mamman Daura. His father left him with Mamman Daura to go to Borno, his original state where he was a village head.

“And for all intents and purposes, he is a son of Mamman Daura. He is now the chief of staff to Buhari.

“Then [Kabir Daura] the personal assistant to Buhari himself, is the son of Mamman Daura.

“And the girl [Aisha Abubakar] who was picked out of nowhere from Sokoto. She is not a member of the APC. She has nothing to do with anybody.

“She was picked and made a minister by Mamman Daura and Buhari because her mother is Buhari’s sister.

“So it is really a contradiction for Buhari to have, for example a nephew of his, the son of his elder sister as the Minister of Water Resources [Hadi Sirika].

“He has another niece of his, the elder sister of [Sirika], who is now a national commissioner in the INEC, Amina Zakari.

“Buhari nominated her even before he became president when Jonathan asked him to nominate somebody to represent the North West in INEC.

“He chose that woman.

“Unfortunately for the country and for Buhari’s legacy himself, he has packed the Presidency with his own relations.

“There are many people who are his own cousins in the Presidency.

“In my own understanding of history and politics, this is what you call nepotism. And if you are against corruption, you cannot be nepotistic,” Junaid lamented.

Lionel Messi Goes To Jail, Fined £1.7m

Lionel Messi Goes To Jail, Fined £1.7m

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Barcelona football star Lionel Messi has been sentenced to 21 months in prison over a tax fraud case in Spain.

However, the striker - generally considered the best in the world currently - is unlikely to face any time in jail as a term of under two years in duration, for a non-violent offence, usually results in a period of probation under Spanish law.

The court in Barcelona found the Argentina player and his father, who handles his financial affairs, guilty of three offences.

Jorge Messi was also handed a 21-month prison term and fine of €1.7m (£1.4m).

His son, who is understood to earn £26m in annual salary under his current club contract alone and is said to be worth at least £240m, was told to pay €2m (£1.7m).

Play video "Lionel Messi Arrives At Court"

Video: Lionel Messi Arrives At Court
Both men have the right to take their sentences to appeal.

They were accused of using tax havens in Uruguay and Belize to hide more than £3m in earnings from image rights from the Spanish tax authorities.

The 29-year old footballer told his trial he knew nothing of how his money was managed and admitted signing documents without reading them.

He told the court last month: "The truth is no, the truth is no, I didn't know.

"As my dad explained earlier I just dedicated myself to playing football, I put my trust in my father, in the lawyers who had decided to manage this thing."

Messi's lawyers said he never examined a series of contracts between 2007 and 2009 which dealt with the income from image rights with companies including Adidas, Pepsi-Cola, Danone, Procter and Gamble, Banco Sabadell and the Kuwait Food Company.

He made a voluntary payment of £3.8m in August 2013 to cover unpaid tax and interest.

Messi - who has been voted World Player of the Year five times - confirmed his international retirement in the run-up to the verdict after Argentina crashed to a defeat against Chile in the final of the Copa America

Invisible Moon: FG Redeclare Wednesday and Thursday Public Holiday

Invisible Moon: FG Redeclare Wednesday and Thursday Public Holiday

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The Federal Government has declared Wednesday and Thursday public holidays to mark the eid-il-fitr. Minister of Interior, Abdulrahman Dambazau in a statement issued Tuesday in Abuja said this followed “the directive by the President General of the Nigerian Supreme Council for Islamic Affairs, Alhaji Sa’ad Abubakar III, the Sultan of Sokoto, to the effect that the Ramadan fast continues today (Tuesday) as a result of the non-sighting of the moon”. He said the Federal Government has now declared Wednesday 6th and Thursday 7th July, 2016 as Public Holiday.

The Federal Government had earlier declared Tuesday, 5th and Wednesday, 6th July, 2016 as public holiday to mark the Eid-el Fitri celebrations. The statement was signed by the Permanent Secretary in the ministry, Bassey Akpanyung.

“In making the declaration on behalf of the Federal Government, the Honourable Minister of Interior, Lt Gen. (Rtd) Abdulrahman Bello Dambazau, urged Nigerians to use this period of sober reflections to ensure harmony, unity and peaceful co-existence, while giving full support to the administration of President Muhammadu Buhari in his sustained effort to pursue socio-economic and political growth of the nation.

“The Honourable Minister wishes Nigerians a peaceful celebration”, said Akpanyung.

Summary of How Gov. Adams Eric Oshiomole Drown Edo State In Debt

Summary of How Gov. Adams Eric Oshiomole Drown Edo State In Debt

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Facts speaks for themselves.