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19 May 2019

Deontay Wilder Calls Out Anthony Joshua After Brutal First-Round Knockout Of Breazeale

BC heavyweight champion Deontay Wilder set his sights on Anthony Joshua after defending his world title with a brutal first-round knockout of Dominic Breazeale in New York.

The American sent Breazeale crashing to the canvas with a steamroller right hand just two minutes and 17 seconds into the opener at the Barclays Center.

The devastating knockout extended the 33-year-old's unbeaten record to 41 wins and a draw from 42 bouts.
Wilder, who drew with Tyson Fury in his last fight in December, and unbeaten WBO, WBA and IBF champion Joshua have struggled to agree terms on a bout in the past.

But Wilder is adamant they will come face to face in the ring, telling Sky Sports: "It will happen. I believe in all my heart it will happen.

"I don't want this to be a (Lennox) Lewis and (Riddick) Bowe situation.

"The heavyweight division is so lit right now, it's so on fire now, and I have an obligation to give the fans what they want. I always say how we can try, but it is going to come back around.

"And the next time it does, the discussion, the deal that me and Joshua are trying to make, then I think something is going to get done.

"Like I tell people, I just want them to have patience, and comes patience comes time. Let us have moments and let us do what we do. When things go silent, that's when the magic happens."

Wilder also believes a rematch with Fury is on the cards.

Despite two knockdowns, many felt Fury had outboxed Wilder only for the fight to end in a controversial draw.

"The rematch will happen, like all these other fights will happen," he said. "The great thing is all these fights are in discussion. The big fights will happen."

NASS: Four Speaker contenders step down for Gbajabiamila

PAST SPEAKERS

Sir Frederic Metcalfe—1955- 1952.

Jaja Wachuku (NCNC) (First indigenous Speaker of the
House of Reps in Nigeria)1959-1960 —Aba Division, Abia

Ibrahim Jalo Waziri (NPC) 1960-1966 –Gombe/Kwami/
Funakaye Federal Constituency, Gombe State

Edwin Ume- Ezeoke (NPN) 1979-1983—-Nnewi North/
South/Ekeusigo Federal Constituency, Anambra State

Chacha Biam (NPN) 1983—-Katsina-Ala/Ukum/Logo
Federal Constituency, Benue State

Salisu Buhari (PDP) 1999-2000—–Nasarawa Federal
Constituency, Kano State

Ghali Umar Na’Abba (PDP) 2000-2003 —-Kano Municipal
Federal Constituency, Kano State

Aminu Bello Masari (PDP) 2003-2007—–Malumfashi/
Kafur Federal Constituency, Katsina State

Patricia Etteh (PDP) (First female Speaker of the House of
Reps)2007–Ayedaade/Isokan/Irewole Federal
Constituency, Osun State

Dimeji Bankole (PDP) 2007-2011 —-Abeokuta South
Federal Constituency, Ogun State.

Aminu Waziri Tambuwal (PDP) 2011-2015—-Kebbe/
Tambuwal Federal Constituency, Sokoto State

Yakubu Dogara 2015 till date APC/PDP —-Bogoro/
Dass/Tafawa Balewa Federal constituency, Bauchi State

PAST DEPUTY SPEAKERS

Dr. Idris Ibrahim Kuta (Bida/Gbako/Katcha, Federal
Constituency, Niger State)—1979-1983.

Rabiu Musa Kwankwaso (Kura/Madobi/Garun Malam
Federal Constituency, Kano state)—-1992-1993.

Chibudom Nwuche (Ahoada West/Ogba
EgbemaFederal Constituency, Rivers State)-1999-2003.

Austin Opara (Port Harcourt 11Federal Constituency,
Rivers State )— 2003-2007

Babangida Nguroje (Gashaka/Kurmi/Sardauna,
Federal Constituency, Taraba State)–une 2002-Oct 2007

Usman Bayero Nafada (Dukku / Nafada Federal
Constituency, Gombe)—Oct 2007-June 2011

Emeka Ihedioha (Aboh Mbaise/Ngor Okpala Federal
Constituency, Imo State)–June 2011-2015.

Yussuff Lasun (Irepodun/Olorunda/Osogbo/Orolu
Federal Constituency, Osun State)— 2015-2019.

The route to the Speakership of the 9th House of Representatives seems to be getting smoother for Mr. Femi Gbajabiamila (APC, Surulere, Lagos State).

Four of his co-contestants for the position have pulled out of  the race for him ,The Nation gathered yesterday.

But two others are still in the contest with him.

The battle for the Senate Presidency remains a three-way affair for Dr. Ahmad Lawan, Chairman of the Senate Committee on Appropriations, Alhaji  Danjuma Goje and a former Senate Leader, Alhaji  Ali Ndume.

Sources said Idris Ahmed Wase (Plateau), Abdulrazak Namdas (Adamawa), Aliyu Betara Mukhtar  (Borno), and Yusuf Yakubu Buba (Borno) have stood down their ambition for Gbajabiamila who is favoured by the APC hierarchy for the job.

Umar Mohammed Bago (Niger) and John Dyegh (Benue) are yet to withdraw from the race.

Although Wase has been adopted for the office of Deputy Speaker, he faces a fresh hurdle from the camp of   outgoing Speaker Yakubu Dogara which is demanding the slot for a Christian candidate.

But some members-elect are insisting that religion should not be a factor for Wase because, according to them, there had been a Christian-Christian mandate in the House in the past.

They said merit and capacity, rather than religion, should be the overriding factor.

Investigation by our correspondent revealed that the withdrawal of the four ranking Reps for Gbajabiamila is a fallout of  ongoing negotiation between  the  Gbajabiamila camp and critical stakeholders in the chambers.

A source called it a major breakthrough in the quest to install Gbajabiamila as the next Speaker.

The four have also agreed to join forces to work for Gbajabiamila whose party (APC) has over 226 of the 360 members-elect.

Gbajabiamila, who also has associates in PDP, needs about 181 votes (if there is a full house of elected members) to emerge as Speaker.

A well-placed  source  said: “So far, the campaign for the office of the Speaker is taking  a good shape for Gbajabiamila with the withdrawal of these four heavyweights from the race.

“We are however not taking things for granted. There is a little relief in the APC camp because the PDP appears not keen any more for the office of Speaker because of the intense lobbying from Gbajabiamila’s friends, associates and strategists.

“About three weeks to the election of principal officers, most PDP lawmakers-elect are still awaiting directive on who to vote for. Instead of losing out, some of them have decided to align with Gbajabiamila to be in good stead for the House politics.

“Notwithstanding, the campaign team of Gbajabiamila has sustained its outreach by paying more attention to his sterling legislative qualities than sentiments around his recommendation for the office by the party.

“We have spent quality time to clarify the godfather allegation being circulated to prove that Gbajabiamila is a cosmopolitan candidate.”

On Umar Mohammed Bago and John Dyegh who are still in the race, another source – a returning Rep – said: “The APC and its leaders at all levels are trying to prevail on these two candidates to step down. We will still take advantage of the next three weeks to lobby them accordingly.

“We are hopeful that they will defer to the APC and concede the slot to Gbajabiamila.

“Alternatively, if all entreaties fail, we will go ahead for outright election between Gbajabiamila and the two candidates. We know their limit but we are only appeasing them to have a united House.

“Take the case of Bago, he does not enjoy the backing of Governor Abubakar Sani Bello and all members-elect from Niger State. His best bet is to face the reality of the futility of his aspiration.

“In the case of John Dyegh, he is the only elected member of the House from Benue State. Where does he draw his electoral strength from? We cannot afford to ignore him but he has not come to terms with the pervasiveness of the ongoing intrigues in favour of Gbajabiamila.”

Responding to a question, the source admitted that although Wase has been adopted for the office of Deputy Speaker, he faces a fresh hurdle from the camp of outgoing Speaker, Yakubu Dogara which wants a Christian for the position.

“Some forces are trying to give religious colouration to the race for the office of Deputy Speaker to stop Wase but the parliament is not made for such sentiments,” he said.

“We are always broader in our perspectives. Of the 12 Speakers we have had six were   Christians and six were Muslims. They all came on merit without religious imputations.

“The Deputy Speakers so far have been eight with five Muslims and three Christians without animosity. Many political factors, including zoning by parties, interplay more than ethno-religious indices.  We hope those promoting religious division in the legislature will stop it.

“Wase has sacrificed by stepping down for Gbajabiamila despite the fact that he is also a strong candidate for the Speaker slot. We will not allow mischief-makers to whip up religious sentiments.”



It’s still Lawan,Goje, Ndume for Senate Presidency

The story is a bit different in the Senate where ex-Governor Danjuma Goje and a former Senate Leader, Senator Ali Ndume have refused to step down for Dr. Ahmed Lawan.

There are fears that should  Goje and Ndume continue to be  adamant, they could split the votes of  APC Senators-elect and  pave the way for the emergence of a Senate President from the opposition Peoples Democratic Party (PDP).

PDP, which has 46 out of 108 Senators-elect, is waiting in the wings for a major crack in APC to determine the next Senate President.

Lawan group on the other hand is making an inroad into the PDP to be able to get a simple majority.

While the Senate rules say a Senate President can emerge with a simple majority of the votes cast during the election of principal officers, the House of Representatives Standing Orders require a candidate for Speaker or any office to have half of the votes of the number of members-elect at the inaugural session.

A Senator-elect from North-West said: “Both Goje and Ndume have continued with their campaign although that of Ndume has been more obvious.

“So far, Ndume appears determined to see through the election on the floor on the inauguration day.

“In spite of the fact that Goje has not set up a structure, we know he has a ready-made platform he might use if he eventually makes up his mind to defy APC directive.

“We are not deterred at all. Where we should accord the ex-governor respect, Lawan has done so. The Senate leader met Goje about two weeks ago at the wedding of his daughter. Some emissaries, including ex-governors, have also had audience with Goje on behalf of Lawan.

“As for Ndume, he has  drawn the battle line from the beginning but even at that some governors have interfaced with him to allow Lawan to be.”

A governor who is involved in some talks with Goje, said: “We are still persuading the former governor to allow Lawan to have his way. Typical of lobbying in any legislature, he came up with a few issues which are resolvable.

“I will not tell you the issues/ grouses/ terms as may be applicable. We think we can mutually agree on a few things and keep our house in order for a smooth 9th Senate.”

Royal Wedding: Prince Harry And Meghan Markle Celebrate First Wedding Anniversary

Happy one year anniversary to Their Royal Highnesses, The Duke and Duchess of Sussex!

Today marks the one year anniversary of the wedding of The Duke and Duchess of Sussex.
Their Royal Highnesses exchanged vows at St George’s Chapel within the grounds of Windsor Castle on May 19th, 2018.
The selected song “This Little Light of Mine” was chosen by the couple for their recessional. We hope you enjoy reliving this moment, and seeing some behind the scenes photos from this special day.

A message from The Duke & Duchess: Thank you for all of the love and support from so many of you around the world. Each of you made this day even more meaningful.

The couple welcomed their first child, Archie Harrison Mountbatten-Windsor, on the 7th of May this year.


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Happy one year anniversary to Their Royal Highnesses, The Duke and Duchess of Sussex! - Today marks the one year anniversary of the wedding of The Duke and Duchess of Sussex. - Their Royal Highnesses exchanged vows at St George’s Chapel within the grounds of Windsor Castle on May 19th, 2018. - The selected song “This Little Light of Mine” was chosen by the couple for their recessional. We hope you enjoy reliving this moment, and seeing some behind the scenes photos from this special day. - A message from The Duke & Duchess: Thank you for all of the love and support from so many of you around the world. Each of you made this day even more meaningful. #247nnu #247nigerianewsupdate #royalwedding #royalwedding2018 #sussexroyal #royalfamily #royalbaby #meghanmarkle #princeharry #britishroyal
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Online Transactions In Nigeria Will Now Carry VAT

The Federal Inland Revenue Service ((FIRS) plans to extend Value Added Tax (VAT) to online transactions soon, according to the chairman of the agency, Mr. Babatunde Fowler.

He told the News Agency of Nigeria (NAN) in New York that the banks would be directed to impose VAT on online transactions for purchases of goods and services.

He also said that the FIRS generated N1.5 trillion revenue in the first quarter (Q1) of this year which is about 18.7 per cent of the agency’s total revenue target of N8 trillion for 2019.
“Soon, we will ask banks to impose VAT on online transactions for purchases of goods and services,” NAN quoted Fowler as saying.

“Not that it is something new; it actually should be in existence. We will certainly follow up to make sure that every VAT that is due to be collected is collected.”

He explained that the move was part of measures by FIRS to meet its N8 trillion revenue target for 2019.

Fowler said the agency had started taking action against companies and businesses that refuse to embrace the Federal Government’s tax amnesty programme.

According to him, FIRS hopes to generate between N750 billion and N1 trillion from the clampdown, which includes closure of defaulters’ bank accounts.

“We are going after everybody. I am sure you have heard that we have placed lien on some accounts of defaulters that have a billion naira turnover annually. So certainly, we are not leaving anyone out of the tax net,” he said.

On the N1.5trillion   generated in the first quarter of the year, Fowler said it included revenue from non-oil taxes that were 11 per cent higher than FIRS realised from that sector in the first quarter of 2018.

He said the N1.5 trillion revenue is also N330 billion or 28 per cent higher than the N1.17 trillion it made in the corresponding period of 2018.

Fowler said the N8 trillion revenue target described by economy watchers as quite ambitious, was realistic with the cooperation of tax payers, among other factors.

“It is quite realistic as long as we have the cooperation of tax payers in addition to deployment of technology,” he said.

“We have already started the enforcement of over 50,000 accounts that have banking turnover of 100 billion and above that have not filed their returns.”

The FIRS boss also spoke of plans by the agency to surpass the over N1 trillion it realised from Valued Added Tax (VAT) in 2018.

His words: “We will get more people into the tax net and deploy more technology. We have what we call Auto VAT Collect and that basically assists tax payers at the point of transaction, and the VAT portion is sent straight into the federation account.

“So, we know that there is more room for growth in the VAT sector.”

The N8.83 trillion proposed by President Muhammadu Buhari for spending by the Federal Government in 2019 was based on a revenue target of N6.97 trillion.

The expected income consists of oil revenue estimated at N3.73 trillion and non-oil oil projected at N1.39 trillion.

To actualise this, the Federal Government in January launched a    “Strategic Revenue Growth Plan” to be implemented by FIRS and other revenue generating agencies.

Fowler said all hands were on deck to actualise the plan, adding that everything “seems to be on course.”

Atiku And PDP Are Planning A Coup - Presidency Cries Out

The Federal Government said on Saturday  it had  ‘credible evidence’ to back up its outcry that the opposition was planning to “sabotage President Muhammadu Buhari’s Administration, generally overheat the polity and make the country ungovernable.”

Information and Culture Minister Lai Mohammed said in his hometown Oro, Kwara State that no government having that kind of evidence would keep quiet.

He spoke at the 12th edition of his Annual Ramadan Lecture in the town. However, the Peoples Democratic Party (PDP) has fired back. It asked the government to address the failing security and other issues confronting the country.
Mohammed told the audience which included Governor   Abubakar Bagudu of Kebbi State, Communication Minister Adebayo Shittu, political stalwarts, traditional rulers, clergy men, Muslims and Christians that: “As you are aware, a few days ago we raised the alarm that either by themselves or via their proxies, the PDP and its presidential candidate are doing everything possible to sabotage the Buhari Administration.

“Our interventions are based on credible evidence, and no government with the kind of evidence that we have, of plans to subvert the power of the state, attack the nation’s economic life wire and generally unleash mayhem on the polity, will keep quiet.

“The security agencies are all alert to their responsibilities and will not sit by and allow anyone to reverse the gains of our democracy under any guise.”

The minister noted that similar alarms had been raised by the police, the military and the DSS.

He said the government would  neither be distracted nor dissuaded by pseudo and partisan analysts that had teamed up with the opposition to “either exhibit their ignorance or to engage in red herring and name calling.”

Read Also: Atiku, PDP to tribunal: Why we don’t want Bulkachuwa
The minister called on Nigerians to use the occasion of the Ramadan to pray for the peace unity and stability in the country.

“I make this request against the background of those who are daily plotting to exploit our national fault lines of religion and ethnicity.

“Those who masquerade as democrats but can’t take electoral defeat, those who will not hesitate to collude with anti-democratic forces and dead enders to fan the embers of violence in the country

“Those who have elevated their personal ambition over and above our survival as a nation,” he said.

The minister thanked all Nigerians for their support and prayers for the Administration, and urged them not to relent, especially in the run up to the May 29 inauguration of the President.

He specially thanked Bagudu, Shittu and members of their entourage as well as other dignitaries for taking time out of their busy schedule to attend the lecture.

The Ramadan lecture was delivered by the Chief Imam of Olorunsogo Central Mosque, Ilorin, Imam Soliu Orire.

The Peoples Democratic Party (PDP) in its reaction told the Information Minister to stop dodging issues and address the monumental failures of the government he speaks for.

The main opposition party was reacting to allegations of subversive activities which the Minister levelled against the PDP and its presidential candidate in the February 23 elections, Alhaji Atiku Abubabar.

Spokesman for the PDP, Kola Ologbondiyan challenged Mohammed to come up with evidence of subversion against the PDP and its candidate, if he has any, instead of playing to the gallery.

Ologbondiyan expressed irritation at the Minister’s allegation of attempts by the opposition to overthrow the All Progressives Congress (APC) led Federal Government.

The PDP spokesman said the Minister is overwhelmed with the challenge of speaking for a government that has failed to deliver on the promises it made to Nigerians four years ago.

Ologbondiyan further accused the Minister of avoiding issues pertaining to poor governance and maladministration, which he said, the APC and the Buhari administration are notorious for.

He added, “Nigerians are tired of a man who keeps running away from the real issues at hand. If Lai has evidence to substantiate what he has been saying, he knows what to do”

“The federal government has no answers to the numerous challenges facing the nation. Nigerians are daily dying of hardship and all their spokesman can say today is to look for people and party to scapegoat for their failure.

“The PDP is determined to retrieve its stolen mandate at the tribunal and no amount of lies can distract us from realising this objective.”

Obasanjo: Buhari supporting Boko Haram to ‘Fulanise’ Nigeria, Islamise Africa – Fani-Kayode

A former Minister of Aviation, Femi Fani-Kayode, has claimed that President Muhammadu Buhari, is supporting Boko Haram to Fulanise Nigeria and Islamise Africa.

Fani-Kayode stated this while reacting to a statement by former President, Chief Olusegun Obasanjo that “Boko Haram wants to Fulanise Nigeria and Islamise Africa.”

247NNU had reported that former President Olusegun Obasanjo handed the warning at the 2nd session of the Synod held at the Cathedral Church of St. Paul’s Anglican Church, Oleh in Isoko South Local Government Area of Delta State on Saturday.
Obasanjo, who spoke on the topic, “Mobilizing Nigeria’s human& natural resources for national development and stability” also said both Boko Haram and herdsmen acts of violence were not treated as they should at the beginning.

He warned that every insecurity situation in Nigeria must be taken seriously and be addressed at once without favouritism or cuddling.

According to him, “They have both incubated and developed beyond what Nigeria can handle alone. They are now combined and internationalized with ISIS in control.

“It is no longer an issue of lack of education and lack of employment for our youths in Nigeria which it began as, it is now West African fulanization, African Islamization and global organized crimes of human trafficking, money laundering, drug trafficking, gun trafficking, illegal mining and regime change.

“Yet, we could have dealt with both earlier, and nib them in the bud, but Boko Haram boys were seen as rascals not requiring serious attention in administering holistic measures of stick and carrot.”

But reacting, Fani-Kayode, in a tweet on Saturday night, said that President Buhari and his Fulanise herdsmen were “greatest supporters” of Boko Haram.

He said: “Boko Haram wants to Fulanise Nigeria and Islamise Africa”- President Olusegun Obasanjo.

“True. And Buhari and his Fulani herdsmen are their best friends and greatest supporters.”

Nigerians Should Weep Once Every Month - Governor Aregbesola

Former Osun State governor, Rauf Aregbesola, says Nigerian citizens should observe a day of weeping every month.

The Nation reports that he said this during the weekend at a symposium to mark the birthday party of a chieftain of the All Progressives Congress (APC) in Lagos.

Speaking on Nigeria’s population and the revenue it generates, Aregbesola said: “We don’t remember that we are poor here in Nigeria. If we have a deep thought, we ought to have a day of weeping every month.
“If we don’t work harder to improve our fortunes, we would continue to be poor. In 2017, Brazil had a population of approximately 200 million people almost about what Nigeria had.

“That year, Brazil had a revenue of about $600 billion and a budget of $700 billion. Nigeria in that same year made $13 billion and a budget of $23 billion. Are the two countries equal?

“Today, OPEC allowed Nigeria to extract and sell 2million barrel of crude oil per day but we don’t get that quantity. Even if we get 2million barrel per day and if the price rises to $100 per barrel, it means our income will be $200 million.

“If you divide this by 200 million people, it amounts to $1 per every Nigerian. We have to check our population by practicing birth control. If we don’t address this, we would have huge problems to deal with. We would also need every able-bodied person to work.”

We Are Only Protecting The Economic Interest Of Herdsmen - Miyetti Allah Blow Hard

Fulani herdsmen organisation, Miyetti Allah Cattle Breeders Association of Nigeria, has expressed displeasure with the criticisms against the group’s comparison with the pan-Yoruba socio-political group, Afenifere, and the apex Igbo body, Ohanaeze Ndigbo.

The Presidency had said Miyetti Allah was another group as Afenifere and Ohanaeze Ndigbo, which was met with backlash, especially from Yoruba leaders.

The Secretary-General of Afenifere, Chief Sehinde Arogbofa, said members of the group carried weapons, killed people and raped women.
Similarly, the Serving Overseer of the Latter Rain Assembly, Pastor Tunde Bakare, described the comparison as shameful, adding that it was even more shameful for the Presidency to exclude the North’s socio-cultural organisation, the Arewa Consultative Forum, from its “illogical comparison.”

The National Secretary, Miyetti Allah, Mr Saleh Alhassan, in an interview with SUNDAY PUNCH, however, said the status of the Fulani organisation as a socio-cultural group was not a product of the Presidency’s proclamation.

Alhassan said, “It is a socio-cultural organisation that is representing an economic group and an ethnic group in this country, even beyond what Afenifere and Ohanaeze are pushing because we are an economic group, outside being a socio-cultural group.

“It is not what the Presidency says. The point is is it pursuing the legitimate interests of its members? Yes, in this country, nobody (else) speaks for the nomadic people in the villages and bushes.

“All these emirs you have, do they speak for them? No, they don’t. If you don’t have an organisation that says, ‘we are speaking for these people’, how do we get to solve their problems?”

Speaking on the criticisms by Yoruba leaders, Alhassan said Miyetti Allah was a legally recognised organisation.

He said, “That is their perception. I don’t know what they represent. Maybe Ohanaeze can now be the same thing as the Indigenous People of Biafra, all those militant groups or those groups doing agitations. All we know is that we are registered by the Corporate Affairs Commission.

“Our objectives are there and clear. We are not a secret organisation; we are a socio-cultural organisation. I don’t think I want to take issue with either Afenifere or Ohanaeze. Do you hear them, especially Afenifere, apart from when there is politics? Are they playing any significant role?”

On the killings allegedly perpetrated by herders, Alhassan said, “It is contextual. Today, if IPOB is agitating and causing violence, you cannot say all Igbo or Ohanaeze is doing it.

“The issue that you have with Miyetti Allah is that we are faced with the challenge of land resource conflict. Our people are predominantly opportunistic users of land. They are pastoralists that access land resources and you have conflict between the herders and the farmers.”

Lagos Police Release Statement On Inspector Who Fled After Killing 20 Year Old Girl

The Lagos State Police Command has said it is still searching for a policeman, Inspector Dania Ojo, who allegedly shot dead a 20-year-old lady, Ada Ifeanyi, in the Ajegunle area of the state a few weeks ago.

Dania, on Saturday, April 13, 2019 at 7am, reportedly shot at Ada and her beau, 32-year-old Emmanuel Akomafuwa, who survived but with gunshot injuries.
The command subsequently arrested five policemen (Inspector Adamu Usman, Sergeant Adeyeye Adeoye, Sergeant Kashim Tijani, Sergeant Lucky Akigbe and Sergeant Paul Adeoye) in connection with the killing.

But Ojo fled, prompting the command to declare him wanted.

Speaking with SUNDAY PUNCH on Friday, the spokesperson for the state police command, DSP Bala Elkana, noted that apprehending Ojo was to prosecute him, stating that disciplinary action had already been taken on his case.

He said, “We are still on the trail of the fleeing policeman. There are rules in the police. We tried him in absentia and found him guilty of wrongful use of firearms. We have dismissed him and stopped his salary. The only thing left is that whenever we apprehend him, we will arraign him in court.”

He noted that five policemen were on duty that day and were about to close for another set to take over when the incident happened.

“The man and the lady were returning from a club when they said the car they were in hit an inspector. Ojo left his duty post and chased the car on a motorcycle,” said the Police Public Relations Officer.

He stated that Ojo became overzealous upon getting close to the car and shot at the occupants, leading to Ada’s death while Akomafuwa sustained gunshot wounds.

On the fate of other policemen with Ojo on the day of the incident, the spokesperson said following the killing, the command arrested the five policemen on duty that day.

He said the investigation carried out on the matter absolved the others as it was clear that Ojo was the only one guilty of professional misconduct.

Nigeria Stands To Gain Pain As US-China Trade War Continues

The trade war between the world’s two largest economies, the United States and China, poses more risks than opportunities to the Nigerian economy, ’FEMI ASU writes

Nigeria, Africa’s top oil producer, like many other economies, is not immune to the impact of the escalating trade battle between the US and China, with both countries levying tariffs on each other’s imports.

In December last year, both countries agreed to a truce after months of hostilities and began to talk. But negotiations toward resolving the US-China trade war stalled last week.
The US imposed fresh tariffs last Friday on imports from China, as the Trump administration raised tariffs to 25 per cent from 10 per cent on Chinese imports that are worth about $200bn a year.

The trade war escalated sharply on Monday as China hit back with five per cent to 10 per cent duties on another $60bn worth of U.S. goods, a development that sparked the biggest fall in US stock prices since January.

The International Monetary Fund, in its assessment of the global economy in October last year, warned that the trade war risked making the world a “poorer and more dangerous place,” saying a full-blown trade war between the two countries would put a significant dent in economic recovery.

The Financial Times reported on May 9 that growth in global commerce had slowed sharply since the US-China trade dispute escalated in mid-2018, and an array of economic indicators suggested that the year-long row was having an increasing effect on the global economy.

The Director-General, Lagos Chamber of Commerce and Industry, Mr Muda Yusuf, told our correspondent on Thursday that the trade war would have several implications for Nigeria.

He said, “The first implication will be the implication for the global economy. The US and China are the two biggest economies in the world; so, if they are having issues with respect to trade, it will affect the global economy; it will slow down growth and when we have a slowdown in growth, it will invariably affect commodity prices.

“So, we are likely to see a drop in crude oil price and it will affect Nigeria because we are heavily dependent on oil.”

Yusuf, however, said the second implication would be opportunities created by the trade battle.

He said, “If we had the right kind of environment, this kind of trade war will create opportunities for companies that want to move out of China to other locations. Many companies in China are there to export to the US particularly and other countries.

“So, if being in China will create a problem for access to the US market, some of them will be forced to relocate. So, if we have the right kind of environment, and given the AGOA (African Growth and Opportunity Act) opportunity that we have which we have not tapped into, it is an opportunity for us to attract investors, to come to Nigeria and, through Nigeria, export.

The AGOA is a US trade act that provides duty-free market access to the US for qualifying products produced in designated sub-Saharan African beneficiary countries.

“This trade war has weakened the Chinese currency vis-à-vis the US dollar. And when Chinese currency weakens, it makes it cheaper for those of us who are importing from China to import. The Chinese exports are likely to be cheaper because a major market window (US) for them has been affected, and that has affected their currency,” Yusuf added.

The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Mr Bismarck Rewane, said, “I don’t think there is a real trade war; I think it is just brinkmanship. For Nigeria, about 21 per cent of our trade is from China and only about nine per cent of our trade is from the US. So, our share of their trade is so insignificant compared to the total value.

“We should be concerned about how as a country we are going to be more competitive as we go along.”

According to Rewane, a global trade war is followed normally by a currency war.

He said, “China will now manipulate its currency to a lower value so that their exports become cheaper. And if they do that, they will undercut products from other countries and that will lead to a global slowdown, which could lead to a recession. So, a trade war, if not arrested initially – and it will be arrested – then it will lead to a currency war. And a currency war will also affect Nigeria.

“There is a risk if things go out of control; we could end up in a global recession, not a global financial crisis, in which we are also going to suffer as commodity prices will come down.”

A former Director-General, West African Institute of Financial and Economic Management, Prof Akpan Ekpo, said, “Once the tariffs on both countries begin to have effects, it may slow growth in the US and that will slow global growth rate. And once the global growth rate slows down or is sluggish, it will affect Nigeria’s growth performance.

“The US and China are the two largest economies in the world; once they are at loggerheads, their intentions and actions lead to a slowdown in global growth and it will affect most countries. Since we are import-dependent and we export mainly oil, it will also affect Nigeria.”

The professor of Economics and Public Policy, University of Uyo, stressed the need for the Nigeria economy to be “diversified so that we can also export other commodities apart from crude oil.”

He said, “Once China loses trade with the US, it will now look to African countries to make up, especially for the consumer goods, and that is when Nigeria will be affected.

“So, they may decide to move those goods to Nigeria but of very low quality. So, we have to be very vigilant and ensure that the goods that come from China into Nigeria are of high quality. Of course, we are not doing that now.”

Carmen Ling, the global head of the internationalisation of the Chinese currency at Standard Chartered Bank in China, said in October last year that China might boost imports from African countries in its quest for new sources of commodities in the wake of a trade war with the US.

He was quoted by Reuters as saying trade links between the Asian economic powerhouse and African nations had been growing robustly in recent years.

Ling cautioned that there would be no winners from the trade war in the short term, but added some African nations could gain in the long term.

“We believe that countries like Kenya and Nigeria will benefit because China will look to import more from Africa; some agricultural products from Kenya, some oil products from Nigeria. Trade flow patterns will change because China will need to look for new trade partners,” she added.

The Managing Director, IMF, Christine Lagarde, said last month that the global economy had “lost further momentum” since January, adding that growth had been slowing largely because of trade tensions and financial tightening last year.

“This is a delicate moment that requires us to ‘handle with care.’ This means that we must not only avoid policy missteps but also be sure to take the right policy steps.”

“A trade war, initiated by the United States, would do serious damage to the global economy as protectionist actions escalate,” experts at IHS Market said in a recent report.

China has faced opposition to some of its global ambitions, mainly in the West but especially in the US, where there has been suspicion of Chinese technology, among others.

US President Donald Trump has complained about China’s trading practices since before he took office in 2016.

The US launched an investigation into Chinese trade policies in 2017, and imposed tariffs on billions of dollars worth of Chinese products last year, and Beijing retaliated in kind.


Source: PUNCH
 
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