Statement
NSF: UNIBEN orders students to vacate halls of residence
Ahead of the 20th National Sports Festival (Edo 2020), the Senate of the University of Benin (UniBen) has ordered students to vacate its Halls of Residence from April 1. The university hall of residence have been earmarked for the use of contingents coming for the festival holding in Benin between April 2 and April 14. A statement issued on Wednesday in Benin by the Public Relations Officer of the institution, Dr Benedicta Ehanire, said the UniBen management had provided holding facilities for students who may need to keep their luggage. She said that the luggage must be tagged and dropped under strict security supervision while their mid-session break lasted. “Following the directive by the Senate of the University of Benin for students to vacate the Halls of Residence on April 1, the Man...
Seplat issues $650 million oil and gas bond
Seplat Petroleum Development Company, a Nigerian independent oil and gas firm, has issued $650 million in aggregate principal amount of senior notes due in 2026. It is said to be the largest ever Nigerian oil and gas bond issuance. A senior note is a type of bond that must be repaid before most other debts in the event that the issuer declares bankruptcy. It is more secure than other bonds. The dual listed company said the five-year bond was well-received in the market with orders from high quality institutional investors. “The notes priced at a yield of 7.75%, representing a significant pricing reduction from its $350 million debut issuance in 2018, which priced at a yield of 9.50% , with a coupon of 9.25%,” a statement by the company read. “The offering was well oversubscribed with deman...
House minority caucus flays $1.5 billion approval for rehabilitation of Port Harcourt refinery
The Minority Caucus in the House of Representatives Tuesday described the approval of $1.5 billion for the rehabilitation of the Port Harcourt refinery as a huge scam and a ploy by unscrupulous elements to siphon public funds. The Federal Executive Council (FEC) had recently at its virtual meeting presided over by President Muhammadu Buhari approved $1.5 billion for the rehabilitation of the refinery. But, the caucus in a statement by its Leader, Hon. Ndudi Elumelu, while rejecting the amount, said the figure is outrageous and heavily inflated, demanding an immediate review of the cost. The lawmakers noted that while they are in support of any genuine effort to bridge energy deficit in Nigeria, such should not be used as a ploy by corrupt individuals to fleece the nation. The caucus called...
Arsenal star’s mum dies after coronavirus battle
Arsenal star Lucas Torreira’s mum has died after a battle with Covid-19, as reported by Uruguayan daily Ovacion. Viviana Di Pascua, 53, was recently admitted to intensive care after contracting the coronavirus in Uruguay. Torreira, who is currently on loan at Atletico Madrid, was given special permission by the La Liga club to fly home to Frey Bentos to be by her side. But Viviana’s situation worsened and on Tuesday her death was announced. Gunners midfielder Torreira contracted Covid-19 himself back in November 2020 following international duty. Torreira was the national team’s twelfth individual among players and staff to receive a positive result at the time. The 25-year-old was forced to miss two weeks of football, including a La Liga clash with Barcelona. A statement read at the time:...
Governor Makinde: Nigeria’s redemption will begin from Oyo
Governor of Oyo State, ‘Seyi Makinde, has declared that God will redeem Nigeria from its current challenges of insecurity, ethnic and religious tension starting from Oyo State. The governor, who dwelt on the uniqueness of figure seven, said that God will use the seventh election in the Fourth Republic coming up in 2023 to get Nigeria to perfection. According to him, the fact that Oyo State currently produced the Seventh President of the Christian Association of Nigeria (CAN), the Pentecostal Fellowship of Nigeria (PFN), as well as the Worldwide President of the Christ Apostolic Church (CAC) is a sign that God loves Oyo State and would redeem the country starting from Oyo. A statement by the Chief Press Secretary to the governor, Taiwo Adisa, indicated that the governor also challenged Nige...
Traffic in Suez Canal resumes after stranded ship refloated
Shipping traffic through Egypt’s Suez Canal resumed on Monday after a giant container ship which had been blocking the busy waterway for almost a week was refloated, the canal authority said. The 400-metre (430-yard) long Ever Given became jammed diagonally across a southern section of the canal in high winds early last Tuesday, halting traffic on the shortest shipping route between Europe and Asia. Live footage on a local television station showed the ship surrounded by tug boats moving slowly in the centre of the canal on Monday afternoon. The station, ExtraNews, said the ship was moving at a speed of 1.5 knots. “Admiral Osama Rabie, the Chairman of the Suez Canal Authority (SCA), announces the resumption of maritime traffic in the Suez Canal after the Authority successfully rescues and ...
Presidency: President Buhari never promised to make N1 equal $1
The Presidency has said that there was not a time when President Muhammadu Buhari promised to make N1 equivalent to $1. The Special Adviser to the President on Media and Publicity, Femi Adesina, said this on a Channels Television programme, Sunday Politics, on Sunday. Adesina, who also addressed complaints about the economy by Nigerians, including former Vice President Atiku Abubakar, said of the often quoted promise by Buhari to make N1 exchange for $1: “It does not exist, it is fake, it is false, it is apocryphal, it doesn’t exist.” He further told Channels Television that the Minister of Information and Culture, Alhaji Lai Mohammed, has debunked the claim several times and challenged anyone with clips and publications of the President promising such to make them available. On the critic...
NANS flays ‘commercialisation’ of tertiary institutions
The National Association of Nigerian Students (NANS), has decried an alleged clandestine move to commercialise public tertiary institutions stressing that it might deprive many the access to quality education. The NANS National President, Com Sunday Asefon, said this on Thursday at the Lagos State University (LASU), while speaking on the decadence of the Nigerian educational system. Asefon in a statement entitled : ‘Need to Perceive Education As a Social Service’ , and made available to newsmen in Ado Ekiti, on Friday, said any developing nation that views education from the prism of commercialisation would fail in giving the youth the right attitude to life. The students leader described education as a veritable weapon to rid the society of ignorance, criminality, and building of future l...
Thousands flee to Thailand after Myanmar army’s air strikes on villages
About 3,000 villagers from Myanmar’s southeastern Karen state fled to Thailand on Sunday following air attacks by the army on an area held by an ethnic armed group, an activist group and local media said. Myanmar’s military launched air strikes on five areas in Mutraw district, near the border, including a displacement camp, the Karen Women’s Organization said. “At the moment, villagers are hiding in the jungle as more than 3,000 crossed to Thailand to take refuge,” a statement from the group said. Thai PBS reported about 3,000 had reached Thailand. Thai authorities did not immediately respond to requests for comment. At least two soldiers from the Karen National Union were killed, said David Eubank, founder of the Free Burma Rangers, a relief organisation. “We haven’t had air strikes ther...
Commodities trading: SEC issues new rules on warehousing, collateral management
File Photo In a bid to ensure a vibrant commodities trading ecosystem, which would in turn boost foreign exchange earnings for the country, the Securities and Exchange Commission (SEC) has released new rules covering warehousing and collateral management, among others. According to the rules, every warehouse that stores commodities to be traded on a registered exchange shall apply to be registered by the SEC, while the commission shall maintain a register of all registered warehouses to be published on its website. The new rules also provide that any warehouse applying for registration shall submit proof of ownership or registered-lease deed or rent agreement, alongside a disclaimer from the owner of the warehouse/property providing waiver of ownership regarding commodities stored in such ...
Abia by-election: APC candidate urges supporters to accept result
All Progressives Congress (APC) candidate for the just-concluded Aba North/South Federal Constituency by-election, Hon Mascot Uzor Kalu, has urged his supporters and APC members to accept the result and remain calm. The Independent National Electoral Commission (INEC) declared the candidate of the Peoples Democratic Party (PDP), Hon Chimaobi Ebisike, winner of the by-election held on Saturday. In a statement, Hon Kalu said the by-elect1ion was over and appealed to APC members to accept the outcome of the elections in good faith while appreciating them for making the party stronger in Abia. He said while the PDP wanted the election at all cost , “we chose life over bloodshed and therefore won lives and lost the polls. To us, that was a m victory.” Hon Kalu said the level of thuggery, violen...
WHO urges fairness in coronavirus vaccine access for Africa
The World Health Organization (WHO) has called for fairness in access to Covid-19 vaccines to widen the reach in Africa. The WHO said on Thursday that while vaccines had been delivered through the global partnership Covax, current global supply constraints could mean a critical proportion of people remain unvaccinated for months. “While some high-income countries are seeking to vaccinate their entire populations, many in Africa are struggling to sufficiently cover even their high-risk groups,” said Dr Matshidiso Moeti, the WHO regional director for Africa. “Acquiring Covid-19 vaccines must not be a competition. Fair access will benefit all and not just some of us,” his statement added. The WHO said vaccine doses have not yet arrived in 10 African countries. So far, the continent has admini...
