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BY ABDULGAFAR OLADIMEJI and SALIHI ABUBAKAR, It became glaring yesterday that the Emir of Kano, Muhammadu Sanusi II, is enmeshed in yet another controversy as the state House of Assembly has set up a 7-man committee to investigate him over alleged abuse of office. The assembly listed eight different charges against the royal father, including allegations of breach of oath of office and allegiance, abuse of privileges and misappropriation of funds. The latest probe by the state lawmakers is coming on the heels of a similar exercise by the Kano State Public Complaints and Anti-Corruption Commission, which is probing the Emir over alleged misappropriation of Emirate Council funds to the tune of over N4billion. As at the last count, the commission had invited top officials of the council for questioning. The decision by the state assembly to probe the Emir was arrived at after the member representing Nassarawa constituency, Ibrahim Gama, relied on...
By Ahuraka Isah, Solomon Ayado and Kauthar Anumba-Khaleel, Abuja The Senate announced yesterday that it was embarking on a comprehensive investigation of the Bureau for Public Procurement (BPP) over what it described as monumental corruption. It alleged that the BPP has deeply conspired with Ministries, Departments and Agencies (MDAs) of the federal government to siphon public funds. According to the Red Chamber, the alleged connivance of the BPP with all the agencies and private contractors has led to inflation of contracts to the detriment of the federal government. Deputy Senate president, Senator Ike Ekweremadu, who presided over the plenary directed the Senate Committee on Public Procurement to investigate the allegation and report back to the Senate in five weeks. Insisting that the committee should get to the root of the alleged corruption, he said, “Our committee will do justice to the issue. In our contributions, it is clear that we have not taken positions....
By Jonathan Nda- Isaiah, Acting President, Yemi Osinbajo yesterday met with former vice president, Namadi Sambo at the Presidential Villa. Speaking to State House Correspondents, the former vice president said he came to pay Osinbajo familiarisation visit pointing out that it is the  usual practice for former vice presidents to visit the incumbent vice president. “I have  come to pay a visit to Mr. Vice President and Mr. Acting President. It is a usual familiarisation visit. As you know, former Presidents visit Mr. President and former Vice Presidents visit the Vice President. I am happy to see all of you, our good friends. I want to thank you very much for this reception,” Sambo said. Yesterday ‘s visit was the second time the former vice president will be visiting the Presidential Villa since May 29, 2015.  
The ex-governor of Benue, Gabriel Suswam, has withdrawn the fundamental human rights suit he instituted against the Department of State Services (DSS) seeking an order of unconditional release from detention. Suswam had also asked the Federal High Court sitting in Abuja to order the DSS to award him N10 billion as compensation for unlawful incarceration and violation of his rights. When the matter was called on Wednesday, counsel to Suswam, Mr Joseph Daudu (SAN), told the court that his client had no further intention of continuing the suit. Daudu maintained that although Suswam’s doctor had placed him on strict bed rest, he reluctantly released him to appear in court to validate his claim of ill health. “The applicant was just released on Sunday after over 70 days in detention and he visited his consultant cardiologist and was given a document showing that he should be on strict bed rest. “In view of the fact...
By BUKOLA IDOWU,   with agency reports The Central Bank of Nigeria (CBN) has said it plans to mop up N35 billion through the sale of short-dated treasury bills as part of efforts to soak up liquidity from the banking system and support the local currency. Liquidity crunch which hit the banking system last week had begun easing since Monday with overnight lending rate at the interbank market which rose to almost 100 per cent declin to around 18 percent. CBN said it plans to sell N5 billion of the 190-day open market operations (OMO) bills and N30 billion naira of 330-day paper, according to a notice cited by currency traders. Sales of treasury bills support the currency by draining cash from the market, curbing speculative demand for foreign exchange. Last week, the apex bank mopped up around N400 billion from the banking system, pushing up interbank rates and leaving some banks scrambling to...
BY MARK ITSIBOR, Abuja and BUKOLA IDOWU, Lagos The International Monetary Fund (IMF) has tied Nigeria’s economic growth to sincere implementation of the nation’s recently launched economic recovery growth plan (ERGP) 2017- 2020. According to it, consistent and comprehensive implementation of the ERGP will be a good way forward for the country’s economy IMF made the remark on the sidelines of the presentation of Regional Economic Outlook for Sub-Saharan Africa tagged: ‘Restarting the Growth Engine’. At a joint press briefing with the Minister of Finance, Kemi Adeosun and Central Bank Governor, Godwin Emefiele, in Abuja yesterday, the Fund’s director of African department, Mr. Abebe Selassie, maintained that implementation of the ERGP was very key to rebounding of the economy. IMF had endorsed the EGRP at the IMF/World Bank Spring meetings recently held in Washington DC. It said Nigeria’s inflation rate will remain elevated at 17.5 per cent, with projected fiscal deficit depreciation to 5 per...
By Ahuraka Isah, Kauthar Anumba-Khaleel and Adebiyi Adedapo, Abuja The Senate yesterday affirmed that Vice President Yemi Osinbajo is the acting president of Nigeria pending the return of President Muhammadu Buhari from his medical trip to London. This followed deliberation on a letter transmitted to both the Red Chamber and the House of Representatives by President Muhammadu Buhari, informing them of his trip to London for medical follow-up. After reading the letter dated May 5, 2017 during the plenary, President of the Senate, Bukola Saraki, noted that its transmission to the Senate was in accordance with Section 145(1) of the 1999 Constitution. The content of the letter sparked up debate on the floor of the Red Chamber, with some lawmakers raising objection to the tone of the letter which described Osinbajo as coordinator of activities of government. In his letter separately addressed to the Senate President, Bukola Saraki and the Speaker of the House...
By YUSUF BABALOLA, Lagos The nation’s shipping sector is currently experiencing cash crunch as a result of the harsh economic situation in the country, LEADERSHIP has learnt. This has led to liquidation of indigenous shipping companies and the taking over of businesses and properties belonging to  ship owners’ by financial institutions. Ship owners are said to be owing banks huge non-performing loans to the tune of N5 billion accrued from ship purchases and financing. LEADERSHIP investigationsalso showed that current fluctuations in the global oil market, lack of patronage, unavailability of forex and non-implementation of the Cabotage Act, among others contributed to the liquidation challenges faced by Ship owners in the sector. This paper had reported that indigenous ship owners were selling off their properties in choice areas of Lagos, Abuja and Port Harcourt to repay huge debts they owe banks. It was also gathered that, while ship owners operating in the downstream oil and gas...

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A familiar tremor of uncertainty is fluttering in the country over the implementation of the report of the three-man panel set up by President Muhammadu Buhari to probe suspended secretary to the government of the federation (SGF), Babachir Lawal and director-general of the National Intelligence Agency (NIA), Ayo Oke. With the president out of the country for medical check up in London, there is growing concern over who will receive and implement the report, since chairman of the probe panel, Vice President Yemi Osinbajo, is now acting president. The contention is that the chairman of the probe panel who is now acting president may likely not be in a position to receive and implement his own report. Besides, it was not clear whether the probe committee actually submitted the report yesterday as it promised last week. The senior special assistant to the Vice president on media and publicity, Laolu Akande, had said last...