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Super Falcons Star Michelle Alozie Bags Brace In Houston Dash Win Over Ifeoma Onomunu’s Gotham

By
Emenike Agu
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  • Michelle Alozie scored two beautiful goals in Houston Dash’s 2-0 win over Gotham FC
  • The Super Falcons star scored in both halves of the game, as her club secured all three points
  • Alozie’s Houston-based club are now seventh on the NWSL table with 26 points

Super Falcons star Michelle Alozie scored two goals as Houston Dash claimed a 2-0 away win over Gotham FC in the National Women’s Soccer League (NWSL).

The 26-year-old has now scored four goals this season for the Houston-based outfit as she is currently having a good campaign.

The Nigerian international scored the first goal of the game in the fifth minute of stoppage time in the first half.

Michelle Alozie scores two goals in Houston Dash’s win over Gotham FC. Photo: Carmen Mandato.

Alozie was put through on goal by Nichelle Prince, and the Super Falcons made no mistake by turning the ball into the net, according to Dynamo FC

The Nigerian added the second twenty-two minutes after the restart, with a wonder goal following a clearance from forward María Sanchez. She found a space between two Gotham FC defenders to put the ball past their goalkeeper, Amanda Haught, who was off her line.

The Super Falcons star has been one of the best payers for the Dash this season, with their win against Gotham FC pushing them to seventh on the NWSL table with 26 points.

Houston Dash still have a chance to finish in the top six, which will guarantee them a place in the Final series play-offs.

They are only two points behind sixth-placed OL Reign but will be monitoring the game between Angel City and Orlando Pride tomorrow.

Diezani Appears In UK Court Over Alleged Bribery, Gets £70K Bail

By
faith Jegede
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Nigeria’s former minister of petroleum resources Diezani Alison-Madueke, has appeared at the Westminster Magistrates Court in the UK over an alleged £100,000 bribe. 

Diezani, who served between 2010 and 2015, appeared at Westminster Magistrate Court, where she was asked only to give her name, date of birth and address.

She was not asked to formally enter a plea, although her lawyer Mark Bowen told the court she would be pleading not guilty.

Alison-Madueke was arrested in London in 2015, shortly after stepping down as minister, and was charged in August with six bribery offences.

She has spent the past eight years on police bail, living in St John’s Wood, a highbrow area of London.

The charges against her, as read out in court, are all related to events alleged to have taken place in London.

Prosecutor Andy Young said she was alleged to have accepted a wide range of advantages in cash and in-kind from people who wanted to receive or continue to receive the award of oil contracts which he said were worth billions of dollars in total.

The advantages included a delivery of 100,000 pounds ($121,620) in cash, the payment of private school fees for her son, and the use and refurbishment of several luxurious properties in London and in the English countryside.

They also included the use of a Range Rover car, payment of bills for chauffeur-driven cars, furniture, and purchases from the upmarket London department store Harrods and from Vincenzo Caffarella, which sells Italian decorative arts and antiques.

British District Judge Michael Snow granted Alison-Madueke bail but imposed terms including an 11 p.m. to 6 a.m. curfew, an electronic tag to be worn at all times and a 70,000-pound surety to be paid before she could leave the court building.

Her next court appearance will be at Southwark Crown Court, which deals with serious criminal cases, on Oct. 30.

London remains a  global money-laundering hub, where public figures like Alison-Madueke, rarely face prosecution for corruption-related offences.

Equity Market Loses N516bn on Waning Investors’ Interests

By
Rhoda Onuzulike
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Investors on the Nigerian Exchange Limited lost N516bn in one week of trading as the volume of trade tumbled by 65.76 per cent.

With the exchange opened for only four days of trading in the past week due to a public holiday, the total turnover of shares was 1.339 billion shares worth N17.916bn which were traded in 27,874 deals. In the previous week, investors on the floor of the exchange traded a total of 3.911 billion shares valued at N30.379bn which exchanged hands in 38,536 deals.

The NGX All-Share Index and Market Capitalisation depreciated by 1.40 per cent to close the week at 66,382.14 and N36.331tn respectively.  Other indices finished lower with the exception of NGX Insurance, NGX Consumer Goods, NGX Lotus ll, and NGX Sovereign Bond which appreciated by 2.77 per cent, 1.59 per cent, 0.20 per cent and 0.98 per cent respectively while the NGX ASeM index closed flat.

Investors At NGX End Week On Bearish Sentiment

Financial Services Industry (measured by volume) led the activity chart with 940.539 million shares valued at N11.370bn traded in 14,627 deals; thus contributing 70.25 per cent and 63.46 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 95.954 million shares worth N584.249m in 1,760 deals. The third place was the Oil and Gas Industry, with a turnover of 69.323 million shares worth N782.269m in 1,688 deals.

The top three equities traded include Access Holdings Plc, United Bank for Africa Plc and Transnational Corporation Plc (measured by volume) accounted for 456.454 million shares worth N6.469 billion in 6,579 deals, contributing 34.09 per cent and 36.11 per cent to the total equity turnover volume and value respectively.

At the end of the trading sessions, 25 equities appreciated lower than 48 equities in the previous week. Forty-seven equities depreciated in price higher than 40 in the previous week, while 83 equities remained unchanged, higher than 67 recorded in the previous week.

At the close of the week, Beta Glass, Ikeja Hotel, Computer Warehouse Group, Consolidated Hallmark Insurance and  Cornerstone led the gainers’ chart as their share prices advanced by +30.41 per cent, +30 per cent, +23.57 per cent, +20 per cent and +17.52 per cent respectively while the laggards for the week include Oando, FTN Cocoa processors, Sunu Assurances, Unity Bank and BUA Cement whose share prices nosedived by -33.76 per cent, -19.68 per cent, -14.29 per cent, -13.64 per cent and -11.08 per cent week on week.

On the outlook for the week, analysts are of the view that bearish sentiments will be sustained as the market seeks catalysts and policy pronouncements to trigger bullish trading.

FG Issues First Wholesale Gas Supply Licence

By
Rhoda Onuzulike
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The Federal Government has issued its first Wholesale Gas Supply Licence for 500 million standard cubic feet of gas per day to an indigenous firm to deepen gas utilisation across the country.

It issued the licence to Ohuru Trading Limited, stating that Section 142 of the Petroleum Industry Act provided for the issuance of the licence, which was required to guide commercial activities along the gas value chain.

The Chief Executive OF Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, presented the licence to Ohuru Trading Limited on behalf of the government in Abuja on Saturday.

“Pursuant to the above (PIA), we are pleased to inform you today that the authority is undertaking a significant milestone as stipulated in section 142, which states that the authority may upon approval of an application and payment of prescribed fees, grant and issue a Wholesale Gas Supply Licence to a qualified applicant.

“In line with the above, Ohuru Trading Limited’s application for the Wholesale Gas Supply Licence was approved after due consideration and upon fulfillment of the stipulated requirements.

“The commercial licenses as provided for in the PIA in general and the Wholesale Gas Supply Licence in particular are significant in many respects as they underscore the focus and priority attention placed on commercial activities in the oil and gas space,” Ahmed stated.

He said the company was being presented with a third-party gas supply licence to purchase natural gas directly from any lease or third party.

“This will enable them to sell and deliver wholesale gas to wholesale customers and natural gas distributors at any location in Nigeria.

“We believe that this will encourage prospective applicants to turn in their requests for other commercial licences introduced by the Act and domiciled with the authority,” the NMDPRA boss stated.

Ahmed said the milestone would reinforce the government’s commitment towards attracting Foreign Direct Investments and other forms of capital inflow into the domestic economy, as well as improve the living conditions of Nigerians.

The Chief Commercial Officer of Ohuru Trading Limited, Mariah Lucciano-Gabriel, said the licence would enable the firm to sell gas on a wholesale basis.

TUC Concludes NEC Meeting, to Meet FG Shortly

By
Rhoda Onuzulike
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The Trade Union Congress a few hours ago concluded its National Executive Council meeting following deliberations on the new wage award for civil servants in the country by President Bola Tinubu, to cushion the effects of subsidy removal on Premium Motor Spirit, popularly known as petrol.

The labour centre is expected to meet with representatives of the government on whether the offer by the government was accepted by the members.

The national deputy president of the TUC, Tommy Etim, made this known in an interview with news correspondent in Abuja on Monday.

Strike: FG, Organised Labour Reach Agreement

When asked, Etim who doubles as the national president of the Association of Senior Civil Servants noted that the labour leaders met earlier and received recommendations from members of its NEC and would go ahead to meet with the representatives of the government later.

He said, “We just concluded our meeting a few hours ago and we received some recommendations from our members which we will convey to the government later today.”

LN247 reports that on Sunday, President Bola Tinubu’s Chief of Staff, Femi Gbajabiamila, noted that the two labour centres, the Nigeria Labour Congress and the TUC, had some agreements with the government and may end up suspending their proposed nationwide strike.

According to Gbajabiamila, the Federal Government had agreed to come up with measures that would address the dispute arising from the removal of the fuel subsidy.

Addressing journalists after the meeting, the NLC president promised to meet with members of the union to consider the offers by the FG to suspend the planned strike.

Details later…

Nigeria Government Sets $5bn Target for Startups

By
Rhoda Onuzulike
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Nigeria has set a plan to help startups raise their total yearly funding rounds to $5bn by 2027.

This was disclosed by the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, on Monday in a document titled, ‘Accelerating our Collective Prosperity through Technical Efficiency: A Strategic Plan for the Federal Ministry of Communications, Innovation & Digital Economy.’

The minister highlighted that in today’s global technology landscape, innovation, entrepreneurship, and access to capital are critical components of a strong digital economy. He stated that the primary objective of the ministry as regards this will be to stimulate the growth and sustainability of startups, with a specific focus on those developing innovative solutions for critical sectors of the economy.

FG, NGX to Boost Startup Listing with Tech Board

Tijani said, “Recognising the critical role of patient capital in the growth of startups, we are committed to increasing the local availability of patient capital. We intend to create an environment for startups to raise the funding they require to thrive locally and promote the domiciliation of startups within our nation.”

Describing how the ministry would measure if its plan were working, he added, “Increase capital raised by Nigerian tech startups 50 per cent year-on-year from ~$1bn/yr in 2022 to $5bn/yr in 2027.”

Amid a funding drought, Nigerian startups raised $1.2bn in 2022, according to Africa The Big Deal (an African funding data insight firm). African startups raised $5.4bn according to Briter Bridges in 2022.

He further declared that the ministry would establish an active sandbox environment to encourage and empower innovators and entrepreneurs to develop unique solutions for sectors considered to have limited exposure to technological innovation.

Tijani also noted that the country is hoping to increase the domiciliation of local technology startups from <1 per cent to 25 per cent by 2027, increasing their benefits to the economy.

According to Tijani, “Digital transformation and innovation are fast becoming a catalyst for economic progress,” and the “intersection of a strong digital economy and our innovative and youthful population presents us with a unique opportunity to chart a course towards prosperity, inclusion, and global relevance.”

Commenting on Artificial Intelligence, the minister stated that this technology will usher in a new era of technological and economic transformation over the next two decades. Nigeria needs to formulate a far-reaching national strategy to harness the potential of AI inclusively and responsibly, Tijani pointed out.

He said, “The implementation of the strategy amongst other things is expected to elevate Nigeria as a top 10 location for AI model training and talents globally. In addition, we will position Nigeria as a global leader in accelerating inclusivity in AI dataset.”

He added that the country plans to create over 50,000 jobs in the AI industry in the next couple of years.

‘I’m Not Moved By Your Tears’, Wike Tells Workers Protesting MD’s Sack 

By
faith Jegede
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Minister of the Federal Capital Territory (FCT), Nyesom Wike, has said neither sentiment nor emotion will stand in his way of doing the right thing.

Wike stated this in Abuja while reacting to a trending video of Abuja Urban Mass Transport Company (AUMTCO) staff lamenting over the sack of the company’s Managing Director.

The MD and Chief Executive Officer of the company, Najeeb Abdulsalam, was among the 21 heads of parastatals, agencies, and companies of the FCT Administration that were sacked by the minister on Wednesday.

Wike further explained that he would do the right thing in the interest of residents of the FCT and Nigerians at large.

“That is why when I watch people on video, crying that somebody has been removed and that he has been doing well, but the question is if you have been doing well, where are the buses?”

“No sentiment, no emotions will be considered when we are doing what is right. We will do the right thing in the interest of the people.

The minister said, he was not bothered by the crying but by the reality on the ground.

He advised political appointees to be prepared to leave office at any time because someone might come and want to have a total change.

“You are not a civil servant where you will say nobody is supposed to retire me because I am not up to the age of retirement.

He said, “Even as a minister, I can be relieved of my position now. You don’t need to cry; some other people will come and all we pray for is, let us get the best.”

Fresh N3trillion COVID Loans Mismanaged By Emefiele Discovered

By
faith Jegede
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A new revelation from the investigative committee set up by President Bola Tinubu has revealed the misappropriation of 3 trillion naira in COVID loans.
Top sources privy to the findings made by the committee said the whopping amount was made from two projects, COVID loans and the Anchor Borrowers’ Programme Fund alone.

In July 2023, the President, named the Chief Executive Officer of the Financial Reporting Council of Nigeria, Jim Obazee, as the special investigator to probe the apex bank.

The committee, which only reports to the President was tasked to investigate CBN and key Government Business Entities.
The appointment of Obazee came over a month after Tinubu suspended Emefiele as the CBN governor.
Shortly after his suspension in June, Emefiele was arrested and taken into custody by Nigeria’s secret police, the Department of State Services (DSS).

The investigation’s latest discoveries are among other atrocities committed as the head of the apex bank.

In addition, it was learnt that Obazee’s committee was pushing to have an interim report submitted to President Tinubu soon so that he would understand how grave and massive corruption at the CBN under Emefiele.

A source close to the matter said   “Obazee’s committee is pushing to have an interim report submitted to Tinubu as a way of letting him understand the gravity of Emefiele’s financial crimes and how bad it set Nigeria’s finances back.

“The committee is asking that they should be allowed to submit an interim report so as to stop any attempt by Emefiele and the Attorney General of the Federation’s office to settle his case on the basis of N50 billion refund plea bargain as earlier exposed.”

In his nationwide broadcast on Sunday morning as part of the programme of events to mark Nigeria’s 63rd Independence anniversary celebration, President Tinubu confirmed that findings on past lapses in the apex bank would soon be out.

In his address, Tinubu pledged a thorough housecleaning of the den of malfeasance the CBN had become. Saying that housecleaning was well underway.

Emefiele was set to be released from detention by the Department of State Services (DSS) after his plea bargain with President Tinubu’s administration had been concluded.

However, the AGF and Minister of Justice, Lateef Fagbemi, SAN, on Sunday denied reaching any non-prosecution bargain with Emefiele.

Emefile and some of his associates were expected to be arraigned over N6.9 billion procurement fraud at the Federal Capital Territory High Court in August but the arraignment had stalled.

Allegedly, a non-prosecution plea bargain for Emefiele was being premised upon the former governor’s willingness to return N50 billion which he had corruptly amassed.


BUA Slashes Bag Of Cement Price to N3,500

By
Rhoda Onuzulike
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BUA Cement Plc has reviewed down the price of the company’s cement to N3,500, effective from Oct. 2.

The company’s management made the disclosure via a statement on Sunday in Lagos.

It said the reduction in cement price was to spur development in the building materials and infrastructure sectors.

According to the statement, the gesture is to allow Nigerians to enjoy the benefits of the price reduction before the completion of its plants.

BUA Cement’s full-year Profit Climbs to N90bn Amid 23% Sales Rise

“As per the commitment made to reduce prices and following a periodic review of our operations for efficiency, the management of BUA Cement Plc wishes to announce and inform our esteemed customers, stakeholders, and the public that effective October 2, 2023, we have decided to bring the price reduction forward.

“As a result, BUA Cement would now be sold at an ex-factory price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.

“Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17million metric tonnes per annum, BUA Cement intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.

“All pending, undelivered orders which had been paid for at the old prices will be reviewed downwards to N3500/bag in line with the new pricing from October 2, 2023.

“Our licensed dealers are also enjoined to ensure that end-users benefit from this reduction in ex-factory prices as we will monitor field sales to ensure compliance,” the company said.

Tinubu Approves N35,000 Provisional Wage Award for Workers

By
Rhoda Onuzulike
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President Bola Tinubu has approved N35,000 provisional wage award for all treasury-paid federal government workers for six months.

This followed further consultations with the Federal Government delegation that met with the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) earlier on Sunday.

It will be recalled that at the meeting between both parties, the Federal Government pledged its commitment to fast-track the provision of Compressed Natural Gas (CNG) buses to ease public transportation difficulties associated with the removal of PMS subsidy.

Strike: FG, Organised Labour Reach Agreement

The Federal Government also committed to the provision of funds for micro and small-scale enterprises as well as waivers on VAT on diesel for the next 6 months.

Furthermore, the Federal Government announced that it will commence payment of N75,000 to 15 million households at N25,000 per month, for a three-month period from October-December 2023.

MEETING HIGHLIGHTS:

In light of the discussions held during the meeting between the Federal Government and Labour representatives, the following were the major highlights:

i) The Federal Government urged the Labour unions not to embark on strike action as the issues in dispute can only be resolved when workers are at work.

ii) Labour Unions made case for higher wage award.

iii) A sub-committee to be constituted to work out the details of implementation of all items regarding government interventions to cushion the effect of fuel subsidy removal.

iv) The lingering matter of Road Transport Employees Association of Nigeria (RTEAN) and National Union of Road Transport Workers (NURTW) in Lagos State needs to be addressed urgently.

v.) NLC and TUC will consider the offers by the Federal Government with a view to suspending the planned strike to allow for further consultations on the implementation of the resolutions above.

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