FRSC Official Dies In Osun State Auto Crash

Tragedy struck in Ipetu Ijesa of Oriade local government of Osun State, on Thursday, when an official of the Federal Road Safety Corps (FRSC), reportedly died in a road accident.

Though the name of the deceased FRSC official was still unknown as of the time of filing this report.

It was learnt that the accident involved a White Nissan Primera car with marked AE 365 GBK and a Toyota Hilux with registration number AO1585RS, belonging to the FRSC.

It was gathered that four other officials of the FRSC, who were inside the Toyota Hilux sustained severe injuries.

The accident was said to have occurred around 1.00 pm at Power line, after Rain Oil filling station, Ipetu-Ijesa.

The Sector Commander of the FRSC in Osun State, Mrs Kudirat Ibrahim, confirmed the accident, but she kept mum on the death of their official in the auto crash.

She, however, explained that the four injured FRSC officials have been taken to Wesley hospital, Ilesa and Olujobi hospital, Ipetu-Ijesa for medical attention.

Ibrahim said that the driver of the car lost control and rammed into the FRSC officials at their checkpoint.

Lagos monitors WASSCE, advised schools with more population than their infrastructure to settle for the option of staggered learning system when schools reopen

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The Office of Education Quality Assurance in the Lagos State Ministry of Education has visited some schools in the Lagos riverine areas to monitor the ongoing West African Senior School Certificate Examination.

The schools were in the riverine area of Education District V.

During the exercise, the Director General, OEQA, Mrs Abiola Seriki-Ayeni and OEQA evaluators visited Tomaro Senior and Junior Secondary Schools, Igbologun Senior Secondary School, Ikaare Senior Grammar School, Ivory Senior Grammar School, Ibese, all in Amuwo-Odofin Local Government Area and Osolu Senior Secondary School, Irewe and Egan Senior High School, Egan-Oromi both in Ojo Local Government Area of Lagos State.

Speaking during the exercise, Seriki- Ayeni said the conduct of WASSCE was satisfactory.

“The conduct of WASSCE in the riverine area of Education District V is satisfactory. This is despite its unique challenges due to the terrain. I am impressed with the conduct, the students are well behaved.”

She also advised schools with more population than their infrastructure to settle for the option of staggered learning system when schools reopen which according to her was in line with the Federal and State Government directive of physical distancing of two meters apart.

Meanwhile, Lagos State Examinations Board has said it did not fix new dates for all the examinations under the purview of the board.

Examinations under the purview of the Board are, Basic Education Certificate Examination, Placement Test by Continuous Assessment Scores and Screening Test into Lagos State Model Colleges and Upgraded Junior Secondary Schools.

A statement signed by the Public Affairs Officer of the Board, Bakare Fatai, enjoined the general public to disregard all rumours peddled on social media that new dates had been fixed for the examinations.

“Lagos State Examinations Board wishes to inform the general public that no new date has been fixed for the conduct of all examinations under the purview of the Board. The Exams Board’s attention had been drawn to the various rumours being circulated in the social media on the dates and modality for the conduct of examinations,”

“School owners are hereby enjoined to disregard such information and advised to focus squarely on the registration processes while taking cognizance of the extension of the week grace starting from 7th -11 the September, 2020”.

The statement however said the date could be extended if there were any other directives from concerned authorities.

Governor ‌Yahaya of Gombe State orders suspension of 135 workers for absenteeism

The Gombe State Governor, Inuwa Yahaya, on Thursday directed the suspension of salaries of 135 staff members of the Primary Health Care Development Agency for absence from work.

Yahaya disclosed his decision after receiving the report of the committee on the agency’s staff verification exercise.

The committee, headed by the state Head of Service, Alhaji Bappayo Yahaya, was mandated to ascertain the number of staff on the payroll of the PHCDA, as well as determine the gap in human resources to enable the state government to plan for staff recruitment, training, welfare and resource allocation for improved health care services.

Yahaya said, “About 4,304 primary health care staff members were verified across the state, out of which 135 personnel were found to be absent.

“Having studied the report, I hereby direct immediate suspension of the salaries of all the PHC staff who failed to physically appear before the verification committee.

“All PHC staff with non-relevant qualifications be transferred out of the agency and payroll to other departments, where their qualifications are needed within their respective Local Government Areas.”

Meanwhile, the state Ministry of Health has disclosed that about 20 medical doctors on the government’s payroll were not at their duty posts for years.

The ministry said while the salaries of the said absentee medical doctors had so far been suspended, a panel would be set up to investigate the matter with a view to probing the root and those found wanting would be prosecuted and the salaries recovery 

Source: The Punch

Fayose can’t stop Makinde from coming to Ekiti – Sen. Abiodun Olujimi

‌A factional leader of the Ekiti State Chapter of the Peoples Democratic Party, Senator Biodun Olujimi, on Thursday dismissed warnings by a former governor of the state, Ayo Fayose to the Oyo State governor, Seyi Makinde, as an “empty threat.”

Olujimi, said the Oyo State governor was welcome to visit Ekiti State to assist in the party’s reconciliation efforts at any time he deemed fit.

She spoke in response to Fayose’s admonition to Makinde urging him to steer clear of the party’s affairs in Ekiti State.

Olujimi spoke at Omuo Ekiti while donating empowerment materials to her constituents in the Ekiti South Senatorial District.

The federal lawmaker said, “Governor Seyi Makinde is welcome in Ekiti anytime. He should even come now so that we can celebrate him. Fayose’s comment was just an empty threat.

“We say unequivocally that governor Makinde is the PDP leader of the zone. Why should the party allow Fayose to conduct the congresses without following due process? We will resist a man who contributed to the failure of our party in Ekiti and the zone. We are resolute to rescue the party.”

Nigerians, others face deportation, UAE issues Nov deadline to leave the Golf country

Nigerians and other foreigners in the United Arab Emirates whose resident visas had expired have till November 17 to leave the Gulf country.

This followed the suspension of visa extension for foreign residents and expatriates by the UAE government on account of the COVID-19 pandemic.

Previously, residents with visas that expired before March 1 had until August 18 to leave the country without having to pay a fine, but now, they have until November 17.

The authorities said those who violated the directive would be deported and would also pay fines under the UAE immigration regulations.

Under its modified COVID-19 visa policies that took effect August 1, foreign residents currently in the country have until October 10 to renew expired visas.

According to the UAE official portal, https://u.ae/#, tourists and visit visa holders have a grace period of 10 days to renew their visas or they would be fined AED 200 (N20,476) for the first day of overstay; AED100 (N10,373) each consecutive day and AED 100, as service fees.

In the case of UAE residents, they have 30 days’ grace period after visa expiry to either amend their status and get another resident visa or leave the country.

Fines do not apply during the grace period, but if they overstayed after the grace period, they will be fined AED 125 for the first day; AED 25 for each subsequent day; AED 50 per day after six months of overstaying and AED 100 per day after one year of overstaying.

“Residents with expired visas who wish to leave the country should cancel their expired visas prior to departure. Their visa cancellation documents will show the grace period they have to exit the country,” the directive said.

But officials of the Ministry of Foreign Affairs who spoke on condition of anonymity noted that the Nigerians, including Pakistanis, Iranians, Bangladeshis and Indians, ignored the directive to leave the country.

A senior official said, “With the expiration/cancellation of their visas, the Nigerians and other foreigners affected by the policy have become illegal migrants. What this means is that the UAE authorities would arrest and deport them and the expenses would be borne by the deportees.”

The official said the affected Nigerian nationals would have to obtain COVID-19 medical result and emergency travel certificate before they can return home.

Our correspondent also learnt that the affected individuals might face a two-year travel ban if deported from the Gulf country.

Findings by our correspondent indicated that the UAE authorities hitherto jailed illegal migrants for two months before expelling them.

When contacted, the spokesman, Nigerians in Diaspora Commission, Abdul-Rahman Balogun, said the commission was aware of the situation and would make its position known soon.

The spokesman, Ministry of Foreign Affairs, Mr Ferdinand Nwonye, said the government had yet to take a position on the issue.

Source: The Punch

Peace Corps of Nigeria: The president is planning to assent to the peace corp bill, which will allow PCN to become a full-blown paramilitary organisation, which will enjoy the Consolidated Paramilitary Salary Structure (CONPASS

Peace Corps of Nigerian Ranks

Peace Corps of Nigeria (PCN) was formed to maintain peace and social order in Nigeria.

Peace Corps motto “Discipline and Patriotic Services” indicates that the organization was founded in other to foster national creativity, unity, peace, youth development and re-orientation. It also has a different salary structure. Peace corp members are not paid the same salary with Nigeria military forces — airforce, navy or army. The peace corp of Nigeria source most of their funds from government grants, aids from local and international agencies and donations from private businesses.

As the president is planning to assent to the peace corp bill, which will allow the Peace Corp of Nigeria to become a full-blown paramilitary organisation, which will enjoy the Consolidated Paramilitary Salary Structure (CONPASS). Other agencies in Nigeria that earn through the consolidated paramilitary structure are the Nigerian customs service, Nigerian Immigration Service, National security and civil defence corps etc.

It will interest you to know that the Peace Corps of Nigeria was founded by Dickson Akoh to promote the creativity of the Nigerian youths and imbibe them in the attitude of unity and peace. The motto of the Peace Corps of Nigeria is Discipline and Patriotic Services.

The Peace Corps of Nigeria ranking structure is quite similar to that of the Nigerian immigration service. The highest-ranking position is commandant-general. Next in rank is the Deputy Commandant General (DCGs), and then Assistant Commandant-General.

Peace Corps of Nigeria Aims and Objectives

Below are some of the objectives of the Nigeria Peace Corps as found on their website:

a. To enlist, mobilise, train, orientate and provide gainful employment for the youths in order to develop them as supporting agents of social order, by providing a second line of public safety;

b. To serve as a think-tank and engage in educating residents of every community on security and safety measures peculiar to their neighbourhood;

c. To uphold bottom-up surveillance through monitoring and observation and to detect, collate, analyse and transmit intelligence data on matters that may likely cause breach of peace and security within the neighbourhood; and transmit same to the appropriate security agency for pre-emptive actions;

d. To engage in Peace Education, Mediation and Conflict Resolution in order to advance the cause of Peace-building, Reconciliation and Conflict Transformation in all communities in Nigeria;

e. To secure educational institutions from intruders and to combat all forms of social decadence/vices, including cultism, examination malpractices, drug abuse and prostitution, with a view to creating peaceful and conducive atmosphere for learning;

f. To serve as a reservoir and springboard of manpower for volunteerism and involvement in social and community services such as Crowd Control, Tour Guard/Guide, Emergency Relief Services, Rehabilitation of Internally Displaced Persons, Voters’ Registration, Election Duties, Census, Immunization, Sanitation and First Aid and;

g. To set-up a centre saddled with the responsibility of training and building the capacity of the youths in the areas of Critical Thinking, Creativity, Innovation, Entrepreneurship and Skill Acquisition.

Peace Corps of Nigeria ranks

The Peace Corps of Nigeria ranking system is quite different from that of the Nigerian Army, Navy and Airforce. However, the ranking system has a great similarity with that of the Nigeria Immigration Service.

Below are the ranks of the Peace Corps of Nigeria.

1. Commandant General “CG” ( 1 NPC Arm, 2 star ,1 Eagle).

2. Deputy Commandant General “DCG” (1 NPC Arm, 1 Star, 1 Eagle).

3. Assistant Commandant General “ACG” ( 1 NPC Arm, 1 NPC Bar,1 Eagle).

4. Commandant “CN” (1 NPC Arm, 1 Eagle).

5. Deputy Commandant “DCN” (1 NPC Arm, 1 Star).

6. Assistant Commandant “ACN” (1 NPC Arm).

7. Chief Superintendent “CSN” (1 Star, 1 Eagle).

8. Superintendent “SN” (1eagle).

9. Deputy Superintendent “DSN” (3 Star).

10. Assistant Superintendent I “ASN I” (2 Star).

11. Assistant Superintendent II “ASN II” (1 Star).

12. Inspector I “Inspector I” ( 3 Strip Metal Bar)

13. Inspector II “Inspector II” (2 Strip Metal Bar)

14. Inspector III “Inspector III” (1 Strip Metal Bar)

15. Corper Assistant I “ Corper I” ( 3 Strip Wool Bar)

16. Corper Assistant II “Corper II” (2 Strip Wool Bar)

17. Corper Assistant III “Corper III” (1 Strip Wool Bar)

18. Private Corper “Private” (1 Empty Wool Bar)

Peace Corps of Nigeria Membership

The membership of the Peace Corps of Nigeria in 3 categories:

1. Permanent Staff Officers
2. Peace Corps Volunteer
3. Student Membership

Peace Corps of Nigeria Salary Structure

The Nigerian peace corps of Nigeria has a dedicated salary structure. Their officers are paid according to their rank. The highest-paid officer is the commandant general.

With the passage of the Nigerian peace corps bill, the Nigerian peace corps officers will earn at par with other paramilitary organisations in Nigeria.

If you have any questions on this, feel free to drop it at the comment section below and do well to share this with friends and families.

Gana's Wife Demands Justice, Asks For N5bn Compensation From The Government

Recall that an early report on Tuesday had indicated that the wanted criminal gang leader in Benue State, Terwase Agwaza, had surrendered to the Benue state government. He turned himself in on Tuesday, in Katsina-Ala township stadium in Katsina Ala Local Government Area of Benue North, following the amnesty programme by the state government.

However, later in the night, another fresh details emerged, which revealed that the notorious gang leader, has been shot dead while on his way to Government's house, where he was expected to be received by Governor Samuel Ortom.

Moreover, information gathered further showed that Agwaza, who is popularly known as Gana, was killed during a gun battle with military men at a roadblock mounted by the soldiers at Gbese-Gboko-Makurdi road, on Tuesday, a statement which has since been negated by some individuals and community leaders.

Consequently, one of the five widows of the slain notorious militia leader in Benue State, Terwase Akwaza, "Gana", Mrs Wantor Akwaza, has demanded that justice be served in the case of her husband's controversial death.

According to punchng, Wantor revealed that her late husband only accepted the state government’s offer of amnesty and came out of his hiding after a former Governor of the State, Gabriel Suswam, visited and assured him that he was involved in the deal.

Mrs Akwaza who alledged that her deceased husband was snatched by military men, revealed that her husband was in a convoy of government officials, traditional rulers and clergymen, heading to Makurdi, the state capital, to finalise the amnesty deal he had with the state government before he was killed.

Consequently, she demanded that government “bring the people” who killed her husband “to justice and pay compensation” of N5bn to the family.

However, do you think the family of late Gana deserves to be compensated because of the controversial circumstances that led to his sudden demise ?

Falz First Signee, Sir Dauda, Set To Release Debut EP

Nigerian singer, songwriter and instrumentalist, Oluwatobiloba Dawodu, popularly known as Sir Dauda, is set to release his debut 5-track Extended Play (EP) dubbed “Love Ex Machina”.

“Love Ex Machina”, which will be released on Friday, September 11, 2020, contains his 2019 hit single ‘Landlord’ and four new tracks including a feature titled “Woman” with popular Afro-pop star, Simi.

Sir Dauda, the first signee to the BAHD Guys Entertainment family is also a frequent collaborator of the “Bop Daddy” rapper.

He was first introduced to the Nigerian music scene in 2012 with the release of his first single titled “Sisi Oloja”, which turned out to be a fan favourite and opened the door for a number of collaborations with other Nigerian acts including Show Dem Camp, Adekunle Gold amongst others.

Speaking on the recent development, Falz described how elated he was to be able to work integrally with an artist whom he not only respects but also believes in.

“Whenever Sir Dauda opens his mouth to sing, I am always in such awe of his talent and unmatched artistry

“His pen game in the industry is unmatched. So I am very blessed to have him on my team..”

The genre of Sir Dauda’s music, “Jungle Funk” is a blend of poetry, folk and rap lyricism fused with African sounds and rhythms.

His singles “Sisi Oloja” and “Landlord” were met with much critical acclaim and are indicative of the start of a new musical movement in Nigeria.

Dauda’s five-song E.P. finds him working with a slew of mavin musical acts in Nigeria.

When asked about what he hopes his debut E.P. will accomplish, Sir Dauda said “tell authentic stories.”

“My sound is a blend of different styles and each track on the EP gives a very spiritual feel that fans would love and appreciate.

“So picking just one favourite track won’t be easy for them.

“As someone who was born in the 80s in the city of Lagos, with parents from mixed Nigerian heritage, I know the importance of art that compels through genuine storytelling.

“This is why with this project I follow in the footsteps of my influences (Bob Marley, Nina Simone, Billie Holiday, Stevie Wonder, Fela Anikulapo Kuti, Mos Def (Yasiin Bey), and Nas) to create a body of work that will be truly timeless.”

All fingers crossed, we’re anticipating the release of “Love Ex Machina”.

Kidnappers Numbering Up To 20 Storm Abuja Community, Abduct 10 People

Armed men suspected to be kidnappers abducted no fewer than 10 people in the early hours of Thursday at Tungan-Maje, a community between Zuba and Giri, on the Kaduna-Abuja-Lokoja highway.

A source in the area, who spoke to City News on Thursday afternoon, disclosed that the attackers, numbering about 20, got to the area on foot around 1 am and went into some houses opposite the Government Secondary School in the area where they abducted their victims.

A security source, who spoke to our reporter, said the kidnappers fled into nearby Shenagu forest, where they are suspected to have their camp, around 4 am along with their victims.

Also, the councillor representing Tungan-Maje ward in the area, Salihu Adamu, confirmed the incident, saying he was terrified by the sporadic gunshots fired by the kidnappers.

He said five among the kidnapped victims were rescued through the combined efforts of the police and vigilante members in the area and appealed to the police to intensify efforts in ensuring that the remaining five victims were also rescued.

Zuba Divisional Police Officer CSP Yahuza Muhammad said five of the victims, comprising three children, a pregnant woman and an elderly man were rescued unharmed.

He said the gunmen who were moving by foot, fled into the forest on noticing that security men were trailing them.

He added that two of the victims were taken to hospital due to the trauma, and that effort to rescue the others was ongoing.

Tungan-Maje, situated between Zuba and Giri, is host to military facilities, one of which was recently named as Muhammadu Buhari Cantonment.

The incident came less than a week after some forests in the FCT were discovered to be used by terrorist groups’ hideout.

The spokesman of the FCT police command, DSP Anjuguri Manzah, also confirmed that five of those kidnapped had been rescued.

He said the police responded to a distress call at about 1:30 am and a joint team of police operatives from the command’s Special Anti-Robbery Squad (SARS), Rapid Response Squad and Zuba police division acted promptly to rescue the five people.

He said a fierce gun battle ensued with the heavily armed hoodlums before the police team succeeded in rescuing five of those kidnapped.

He said effort was on to rescue the remaining five victims.

“The command is still reassuring members of the public on its commitment to deploying proactive crime-fighting measures to ensure the security of lives and property in the FCT,” he said.

Source: City News

COVID-19 Pandemic And Nigerian Tax Policy Responses

It is common knowledge that the Nigerian economy is passing through perilous times.

The economy which is the engine of the government has dipped precipitously due to the significant drop in the international price of crude oil and the COVID-19 pandemic. In response to the harsh economic condition now experienced by Nigerians, the government, through the Federal Inland Revenue Service (FIRS), has come up with a lot of tax incentives to cushion the harsh effect of the economic meltdown on the citizens.

A tax incentive has been defined as “a form of a reduction of or an exemption from, the tax which somebody or an organisation would normally be liable”. It should be recognised that high level of inflation currently endured by the citizenry is an unplanned taxation. This has been made known by the American economist, Professor Milton Friedman (1912 – 2006), in his famous statement that “Inflation is the one form of taxation that can be imposed without legislation”. Therefore, tax incentives whose goal, among others, is to attract investment, increase employment, raise capital transfer, increase economic growth, and must, in addition, decimate inflation.

Perhaps the most far -reaching palliative is the taking away of about 60% of the tax base by the Finance Act, 2019. The Act excludes companies with less than N25 million turnover in a year from tax. The implication is that about 60% of those who should pay tax will not do so. Also, about 60% of people who are supposed to act as agents for the remittance of Value Added Tax (VAT) monthly are relieved of this duty. Companies in this bracket include a large number of Small and Macro enterprises. We must commend the government for this concession because from my over thirty years experience in audit assurance, this is a palliative overdose. The truth is that only few of Nigerian businesses preparing accounts for tax purpose disclose a turnover of above N25 million. Many of these companies don’t prepare accounts for auditing. Those who prepare accounts do so because they intend to participate in the bidding for government contracts. This Act has excluded from tax payment about 90% of the traders in Alaba market in Lagos, Onitsha market, Ariaria market, Aba and the big merchants in kano. They will only be liable to rates and levies.

The Finance Act, 2019 reduced Company Income Tax rate to 20% for companies with a gross turnover of above N25 million but below N100 million. This is a big relief to companies covered by this provision.

The service has eased the burden of the payment of Stamp Duty on rent as such payments are now graduated with minimal rates. For example, if the tenure of a rent is between 1to7 years, the rate applicable is 0.78%. It means for a rent of N100,000 per annum, the tenant will be liable to pay  N780 only. You are not going to pay Stamp Duty on your own house if you live there. The payment is to legalise the agreement between you and your landlord. Furthermore, the service has announced plan to give relief to individuals who should pay Stamp Duties on rent to corporate organisations and promised to extend this to the jurisdiction of states’ Internal Revenue Service.

The furor which arose after the announcement of Stamp Duty on rent payment was unfounded. Stamp Duty came into effect; vide Ordinance 41 of 1939. It is payable in respect of dutiable instruments like MoUs, Agreement Contracts, Receipts, Promissory Notes and Insurance policies.

An incentive on the filling of returns is the Late Returns Penalty waived for taxpayers who paid early and filed later. This allowed supporting documents to be emailed to dedicated addresses or submitted later to the tax offices by those who are unable to use the email facility.

Remittance of VAT on or before the 21st of every month was extended to the last day of the month. Taxpayers who earned their income in Naira or Dollar are required by law to pay their liabilities in the same currency the income was earned. For good measure, the FIRS offered a palliative to taxpayers who earned their income in Dollars and faced challenges in sourcing for forex to offset their tax liabilities. They were given the option of paying in Naira at the prevailing Investors’ and Exporters’ (I &E) Forex window rate on the day of payment.

In respect to tax Audit, Investigations and Monitoring, visits were suspended till June 2020, and all interest and penalties on additional tax liabilities which arose as a result of desk review, tax audit and investigation were waived provided the tax liabilities are paid on or before the 31st of August, 2020.

Other incentives include the following: the exemption of Personal Income Tax in respect of gratuities payable to an employee in the private sector in respect of services rendered by him under a contract of service with his employer; and the exemption from Capital Gains Tax on the sums obtained by way of compensation for loss of office, except where the amount of such compensation or damages exceeds N10 million in any year of assessment.

It is rather unfair to allege that the FIRS is apathetic to the pain and suffering of Nigerians and businesses operating under the current economic situation. It should be noted that Nigeria is the largest economy in Africa but in terms of Tax to GDP ratio, Nigeria is among the least in Africa. The figures for some African countries are: Algeria (35%), South Africa (29%), Ghana and Kenya (18%).  That of Nigeria is as low as (6%).

An analysis of the telecoms industry now trending on social media is both confounding and revealing. It would be noted that the same Nigerians shying away from tax payment hold 250 million active SIM cards. About 72 million Nigerians recharge their cards every day.  Nigerians spend about N446 billion to recharge their cards in a month. Nigeria’s investment in the telecoms industry in a year is N21.4 trillion. The Nigeria Communications Commission (NCC) says Nigerians spend more on telecoms than on health and food. The amazing thing is that most of these GSM activities by Nigerians are very unproductive.

The FIRS has expressed confidence that the above incentives together with those in the Finance Act, 2019 would aid economic recovery and stimulate growth of Nigerian businesses during and post -COVID-19. It is therefore expected that Nigerians will take maximum advantage of these incentives.

Source: Daily trust

The Fuel Price Hike, Market Fundamentals And The Way Forward

The government, it appears, has decided to bite the bullet so as to put in place a more transparent pricing model, stimulate investment growth in the sector and encourage resumption of product imports by oil marketing companies.

Regrettably, with the shamble and rot in the downstream sector of Nigeria’s oil and gas industry, government throwing the sector up into the risky and uncertainty space and manipulative tendency of market fundamentals leaves us with concern.

One great pitfall of market fundamentals is its poor scientific outlook and dangers it will pose to our economy. The petroleum products marketers in this realm would be market fundamentalists.

To this end we are confronted with the following questions: Will the market fundamentalist not exploit consumers with arbitrary pricing and round-tripling of PMS? Would the market fundamentalist not create artificial scarcity of PMS? Will the market fundamentalist not put pressure on the naira? Will the market fundamentalist not join forces with forex speculators to sabotage, distort and deflect our foreign reserve? How would the uncertainty challenges of accessing foreign exchange be addressed?

The way forward? Firstly, if the government is serious about the deregulation of the sector, it is not by surrendering PMS price to market fundamentals that are predicated on free market capitalist economic principles not devoid of rooted sharp practices and market manipulation.

Secondly, repositioning the sector is to attract the much-needed investments in functioning refineries and pipelines transport construction in the country with incentives for investors in those sectors.

Thirdly, the government should also avoid creating a situation where the market fundamentals in PMS importation becomes a nightmare to CBN’s sustained and painstaking efforts to keep the naira stable.

Lastly, we expect healthy competition among marketers that would enhance value for consumers without monopolistic structure that market fundamentals normally throw up, to kill vibrant and competitive market, a cyclical feature of free-market economy. We must say here that market fundamentalists are primitive accumulators and maximum profit-minded.

Source: Daily Trust

Customs uncover about $500,000 smuggled cash hidden in chair cushion

Customs uncover about $500,000 smuggled cash hidden in chair cushion

Even by MIA smuggling standards, this scheme was over the top: A chair cushion stuffed with almost $500,000 in cash was uncovered by customs officers during an inspection as it was being shipped to the Dominican Republic, authorities said Wednesday.

U.S. Custom and Border Protection officers seized the stacks of cash that were hidden in the bottom of a furniture crate at Miami International Airport nearly a week ago.

CBP officers said the exact amount totaled $491,280 in unreported U.S. currency. A failure to report cash in excess of $10,000 that is being exported from the United States is a violation of federal currency reporting requirements. No one was arrested, but the money now belongs to the U.S. government.

“Criminal organisations will attempt to export large sums of cash to launder their ill-gotten gains,” said Robert Del Toro, CBP’s Acting Port Director at Miami International Airport. “This is a significant seizure and represents the impact we can make on criminal’s profits and was the direct result of our officer’s vigilance and watchfulness.”

Customs uncover about $500,000 smuggled cash hidden in chair cushion

It is legal to carry large sums of currency into or out of the United States. However, federal law requires that travelers who possess $10,000 or more in currency or other monetary instruments must report it all to a CBP officer at the airport, seaport, or land border crossing when entering or leaving the country.

Customs and Border Protection uses a variety of techniques to intercept narcotics, unreported currency, weapons, counterfeit consumer goods, prohibited agriculture, and other illicit products. On a typical day, CBP seizes an average of about $207,000 in unreported or illicit currency along the nation’s borders.

So far this year, CBP officers have seized $2.4 million in illicit cash in Florida, including half that total at Miami International Airport, according to agency spokesman Zachary Mann. (Text, excluding headline, courtesy Miami Herald)

WAEC Conducts Exams In Chibok Six Years After Abduction Of Schoolgirls

Students sitting for WAEC exam for the first time in six years. Photo: 7 Division, Nigerian Army.

The West African Examination Council (WAEC) has conducted the 2020 Senior School Certificate Examination (SSCE), in Chibok Local Government, Borno State, the first time since the abduction of over 200 schoolgirls in the area by Boko Haram insurgents, six years ago. 

The 7 Division, Nigerian Army, disclosed this on Thursday.

Schools in the local government were closed by the Federal Government following the abduction of the girls from the Government Girls’ Secondary School Chibok on April 14, 2014.

Six years after the incident which led to the formation of the Bring Back Our Girls (BBOG) advocacy group, the school has now been converted into a mixed school (for boys and girls).

File photo: Members of the BBOG.

Out of the 219 schoolgirls abducted by the insurgents, 107 have regained freedom after various rescue efforts and mediated negotiations between the Federal Government and the terrorists.

President Muhammadu Buhari who rose to power on a three-pronged agenda of fighting insecurity, ridding the country of corruption and revamping the economy, had at various fora restated his resolve to rescue other schoolgirls still in captivity.

File photo: Some of the rescued Chibok Girls

“Diverse efforts are being intensified to secure the release of the Chibok Girls, along with all hostages in Boko Haram captivity, including Leah Sharibu who was kidnapped from her school, Science Secondary School, Dapchi, Yobe State, on February 19, 2018,” the Nigerian leader said in commemoration of the fifth anniversary of the abduction of the Chibok girls.

Below are photos of students sitting for the WAEC examination in Chibok:

‘Targeted and Exposed’

In 2018, the United Nations Children’s Fund (UNICEF) said over 1000 children have been abducted by Boko Haram in northeastern Nigeria since 2013.

“They are consistently targeted and exposed to brutal violence in their homes, schools and public places,” the agency added.

BREAKING: Ondo INEC office on fire, over 5000 card readers destroyed

The Ondo State office of the Independent National Electoral Commission, INEC is currently on fire.

The fire outbreak which started around 8:45pm at the ICT unit of the commission is yet to be contained as at press time.

Over 5000 card readers have been destroyed in the inferno.

With the cause of the outbreak unknown, men of the fire service are yet to arrive at the scene.

The Ondo State fire service is less than 500 meters from the commission.

The commission is situated in Alagbaka area of Akure, the state capital.

Governorship election in the state had been scheduled for October 10, 2020.