Cloned Nigerian Anchor

Author: Chike Ozohili

  • Senate adjourns plenary until July 4

    Senate adjourns plenary until July 4

    Following the adoption of a motion by the Deputy Senate President, Senator Barau Jubril (APC) Kano, the Senate on Wednesday, adjourned plenary until July 4.

    The Senate earlier approved a motion informing President Bola Tinubu that a quorum of the 10th Senate had been assembled and that the Presiding Officers had been elected.

    It also adopted a motion to write letters of congratulatory messages to the Speaker and Deputy Speaker of House of Representatives on their election.

    The letters will also notify them of the election of the President and Deputy President of the Senate.

    It also at plenary adopted a motion to write to international parliamentary bodies informing them that a quorum of the 10th Senate had been assembled and that the Senate was ready to receive communication.

    The bodies included the African Union (AU), ECOWAS Parliament, Common Wealth Parliamentary Association (CWPA),Inter-Parliamentary Union (IPU) among others.

  • Nigerian Navy to unveil 7 additional navigational charts

    Nigerian Navy to unveil 7 additional navigational charts

    The Nigerian Navy is set to unveil seven additional navigational charts as part of activities to mark the 2023 World Hydrography Day.

    The Chief of Policy and Plans (Navy), Rear Adm. Seidu Garba, made this known at a news conference to mark the 2023 World Hydrography Day celebration on Wednesday in Abuja.

    Garba said the newly produced Navigational charts by the Nigerian Navy linking Ondo to Lagos State through River Alape, would be unveiled on June 21.

    He said the new charts in addition to the earlier 20 produced for the lower-Niger River would bring the number to 27.

    According to him, the Nigerian navy has the most sophisticated hydrographic survey vessel in the whole of Africa.

    He said that the vessel, NNS LANA, which came into the country in 2021, is being used extensively to do chart the nation’s coastal areas and inland waterways.

    Garba said the theme of the day which is “Hydrography – Underpinning the Digital Twin of the Ocean”, would focus on the application of hydrographic datasets for sustainable management and use of the ocean.

    According to him, digital twin of the ocean is a near real-time future digital representation of the physical, chemical, biological, and socio-economical dimensions of the ocean, to facilitate well-informed decisions for effective ocean governance.

    He said the ocean was everything to man, adding that it sustains life, and provides food, energy, recreation, and jobs.

    Garba however observed that marine litter, indiscriminate marine resource exploitation, and inadequate tools for ocean management were threatening the sustainable use of the ocean in Nigeria.

    “Therefore, developing the digital twin of Nigeria’s waters in particular, and the entire Gulf of Guinea in general will provide the needed interface between policymakers, coastal communities, maritime security agencies, researchers, marine exploration and exploitation companies, as well as other maritime users.

    “This will foster the right action for sustainable ocean governance and uses in Nigeria.

    “Development of digital twin of the ocean requires the integration of a wide range of real-time and historic data sources like ocean observatory data, static data from geology and human activities, as well as hydrographic datasets.

    “Currently, there are several historic and real-time datasets domiciled in many Ministries, Departments, and Agencies of Nigerian Governments, as well as private oil companies, that could be integrated into the digital twin of the ocean for Nigeria,” he said.

    The naval chief said that conversations during the 2023 celebration in Nigeria would awaken collective consciousness towards pooling marine datasets together to develop an infrastructure that would serve the collective good of all stakeholders for sustainable ocean development.

    Garba said the event would include awareness lectures aimed at arousing the interest of young minds to consider picking up a career in hydrography.

    This, according to him, is to raise enough human capacity to provide quality hydrographic services to Nigeria’s policymakers and mariners.

    On his part, Hydrographer of the Nigerian Navy, Rear Adm. Chukwuemeka Okafor, said that the navy had done a lot in the area of hydrographic survey in Nigeria.

    According to him, there are over 3000 creeks and a coastal area of about 420 nautical miles already surveyed in the country.

    Okafor said that survey was a continuous process, adding that the navy had not surveyed up to half of Nigeria’s waters because of its vastness.

    He said that about 20 charts have been made covering River Niger from Lokoja to the Atlantic Ocean through River Ramos and Forcados River.

    Okafor said that while additional seven charts would be unveiled in coming days, the surveying of Uguta Lake through Orassi River down to the Atlantic Ocean, up to Sombrero River and New Calaba River had reached 95 per cent.

    According to him, the survey team will soon round that up and the charting team will commence the production of that chart.

    “That axis will also be open and most states will be able to have access to the sea when that is completed, and the navy will also be able to deploy its capital ships to provide maritime security along that axis,” he said.

    Okafor said that the navy was expecting delivery of an additional survey vessel that would be deployed to cover more grounds.

    He said World Hydrography Day was meant to sensitise more people to what hydrography is and the values it brings to every nation.

  • Global displaced persons hit record record 110m — UN

    Global displaced persons hit record record 110m — UN

    The UN refugee agency (UNHCR) on Wednesday said the number of people forcibly displaced around the world has climbed to a record 110 million.

    UNHCR said conflicts in Ukraine and Sudan spurred millions of people to flee their homes.

    In a new report, the agency said the increase of around 19 million people to 108.4 million by the end of 2022 was the biggest annual jump on record.

    The U.N. High Commissioner for Refugees, Filippo Grandi told journalists that the number has since risen further to 110 million, mostly due to Sudan’s eight-week-old conflict.

    “Solutions to these movements are increasingly difficult to even imagine, to even put on the table.

    “We are in a very polarised world, where international tensions play out all the way into humanitarian issues.”

    For the two decades before the Syria conflict in 2011, the global level was roughly stable at about 40 million refugees and internally displaced people, the Forced Displacement report showed.

    However, they have risen each year since and have now more than doubled. More than one in every 74 people is now displaced, the report said.

    Grandi blamed “the usual package of causes” which he said were conflict, persecution, discrimination, violence and climate change.

    He said of the total refugees and those needing international protection, about half of them came from just three countries: Syria, Ukraine and Afghanistan.

    Grandi raised concerns about tougher rules on admitting refugees and push-backs, without naming countries.

    “We see increasingly a reluctance on the part of states to fully adhere to the principles of the (1951 refugee) convention, even states that have signed it.”

    However, he was upbeat about some developments, namely a deal reached by EU ministers last week on sharing responsibility for migrants and refugees.

    “There are issues of some concern. By and large however, I think it’s a positive step,” he said. “We’re so happy that the Europeans agree on something.”

    He also praised Kenya which he said is looking for new solutions for the half million refugees it hosts, including many who have fled poverty and drought in the Horn of Africa. 

  • Q1 2023: Nigeria’s Company Tax stands at N469.01bn- NBS

    Q1 2023: Nigeria’s Company Tax stands at N469.01bn- NBS

    The nation’s aggregate Company Income Tax (CIT) for Q1 2023, is reported to be N469.01 billion, the National Bureau of Statistics (NBS) has said.

    The figure is contained in the NBS Company Income Tax (CIT) Q1 2023 Report released in Abuja on Wednesday.

    According to the report, the figure shows a growth rate of -37.79% on a quarter-on-quarter basis from N753.88 billion recorded in Q4 2022.

    The report said local payments received were N300.78 billion, while foreign CIT payment contributed N168.23 billion in Q1 2023.

    It said on a quarter-on-quarter basis, the financial and insurance activities recorded the highest growth rate at 50.42 per cent, followed by construction at 42.32 percent.

    “On the other hand, water supply, sewerages, waste management and remediation activities had the lowest growth rate at 69.38 percent, followed by other service activities at -60.13 percent.”

    In terms of sectorial contributions, the report showed that the top three largest shares in Q1 2023 were financial and insurance activities with 22.94 per cent.

    “This was followed by manufacturing with 20.91 percent and information and communication with 11.89 per cent.”

    It said on the other hand, the activities of households as employers, undifferentiated goods- and services-producing activities of households for own use recorded the least share with 0.01 per cent.

    “This was followed by water supply, sewerage, waste management, and remediation activities with 0.04 per cent and activities of extraterritorial organisations and bodies with 0.12 per cent.”

    The report, however, said, on a year-on-year basis, CIT collections in Q1 2023 decreased by 14.96 per cent from Q1 2022. 

  • TotalEnergies discovers oil, gas offshore Nigeria

    TotalEnergies discovers oil, gas offshore Nigeria

     TotalEnergies on Tuesday announced the discovery of Ntokon oil and gas on OML102 offshore Nigeria.

    According to a statement on its website, the company said the well is located in shallow waters, 60 km off the southeast coast of Nigeria.

    It said the Ntokon-1AX discovery well encountered 38 meters of net oil pay and 15 meters of net gas pay, while its side-track Ntokon-1G1 encountered 73 meters of net oil pay in well-developed and excellent quality reservoirs.

    Ntokon-1G1 tested successfully up to a maximum rate of about 5,000 barrels per day of 40° API oil, it said.

    Located 20 km from the Ofon field facilities on OML102, Ntokon will be developed through a tie-back to existing facilities.

    “The Ntokon discovery opens a promising outlook for a new tie-back development’’, said Nicolas Terraz, President, Exploration & Production at TotalEnergies.

    “After the start-up of production of the Ikike tie-back on OML99 in 2022, this new success in the area further demonstrates the potential of nearby exploration to create value within our low-cost, low-emission strategy.”

    OML 102 is operated by TotalEnergies EP Nigeria with a 40 per cent interest, alongside partner NNPC Ltd with the remaining 60 per cent.

    TotalEnergies is a multinational energy company operating in more than 130 countries. For over 50 years, the company has operated in the downstream sector of the Nigerian oil and gas industry.

  • Nigeria’s Equity market gains N1.216trn

    Nigeria’s Equity market gains N1.216trn

    The successful inauguration of the 10th National Assembly on Tuesday impacted positively on Nigeria’s capital market as the equity market appreciated by N1.216 trillion.


    Market capitalisation of listed equities increased by 3.99 per cent to N31.670 trillion from N30.454 trillion it closed on Friday.


    Also, the NGX All Share Index also appreciated 2232.58 points to 58163.55 points from 55930.97 points traded the previous day.


    Meanwhile, an analysis of the trading activities during the day showed that GTCO Plc Lasaco Insurance Plc, Nascon led activities with a gain of 10 per cent to close at N30.80, N1.98 and N17.05  per unit respectively. Zenith Bank and Access Corp also closed higher with 10 per cent each to N30.80 per cent and N14.30 per share respectively.


    On the contrary EllahLakes and JohnHolt recorded the highest loss with a drop of 10 per cent each to N3.60 and N1.26 per share respectively.


    TiP trailed with a loss of 9.62 per cent to close at N0.47 per share, Caverton dropped by 4.62 per cent to close at N1.24 per unit, Veritas Kapital fell by 4.35 per cent to close at N0.22 per unit.
    Investors traded 1.186 billion shares valued at N19.225 billion in 10369 deals against 574.737 million shares worth N6.085 billion exchanged hands the previous day in 6595 deals.


    Transactions in the shares of United Bank for Africa led activity with 214.944 million shares valued at N2.333 billion in 608 deals, GTCO Plc followed with account of 208.061 million shares worth N6.243 billion in 613 deals, Zenith Bank traded 85.699 million shares cost N2.623 billion in 743 deals, Japaul Gold exchanged 72.595 million shares valued at N37.401 million in 216 deals, Access Corp sold a total of 72.111 million shares valued at N1.015 billion in 658 deals.

  • N3.7bn Scam: UK Dion, Diongoli arraigned on 61-count charge

    N3.7bn Scam: UK Dion, Diongoli arraigned on 61-count charge

    Justice Ambrose Lewis Allagoa of the Federal High Court, Court 3, sitting in Ikoyi Lagos on Tuesday fixed July 21st for the commencement of trial of Mr Michael Ukiye Diongoli, and his two companies, UK Dion Group and UK Dion Investment Limited on a 61 count charge of defrauding unsuspecting investors to the tune of over N3.7b.

    Diongoli and his companies are alleged to have between 2021 and 2022 with intent to defraud, conspired among themselves to obtain money from several individuals and organisations including Dr. Basil Onugu, Prof. Oyekachi Green Nwankwo, FSL Securities Ltd, Catholic Charismatic Renewal, MTN Employer Cooperative, Col Chukwu Tengu rtd. and Nigerian Army Welfare Insurance Scheme among others. 

    The defendants are accused of pretending to be registered financial institution into wealth management, invited customers to pay money into their accounts and fix it for a period ranging from 6 months to one year with interest, a statement the defendant knew to be false and committed an offence contrary to Section 1(1) of the Advanced Fee Fraud and other Fraud Related to Offenses Act, 2006 and punishable under Section 1(3) of the same Act.

    According to the Charge “That you Micheal Ukiye Diongoli, Dion Investment Limited and others at large between MRCH 2021 and May 2022 in Lagos Nigeria, within the jurisdiction of the Federal High Court of Nigeria with intent to defraud fraudulently obtained several sums of money to UK Dion under the pretence that you are a registered financial institution, and you are into wealth Management wherein customers were invited to pay money into your account, fix it for a period ranging from 6 months to one year and the customer will get the money invested with interest, a statement the victims believed, which you knew to be false and you thereby committed an offence contrary to Section 1(1) of the Advanced Fee Fraud and other Fraud Related to Offenses Act, 2006 and punishable under Section 1(3) of the same Act”.

    When the charges were read to the defendant, Micheal Ukiye Diongoli pleaded not guilty to all 61 counts, Justice Allagoa thereafter set July 21, 2023, as the date for the commencement of the trial.

    Mr Diongoli, and his two companies, UK Dion Group and UK Dion Investment Limited are also facing a criminal summons by Justice Zainab Abubakar of the Federal High Court in Abuja on charges of operating without the licence of the Securities and Exchange Commission. 

    In the two-count charge brought against Michael Ukiye Diongoli, UK Dion Group and UK –Dion Investment Limited all of No. 21 Buhari Street, Peace Court Estate, Lokogoma, Abuja, they are alleged to have on or between the year 2021 and 2022 within the jurisdiction of the honourable court did commit a felony to wit:

    Conspired among themselves together with their staff to do an illegal act – diversion of investment funds to the tune of over N3.6billion belonging to the investing public which includes Basil Onugu, Elizabeth Umenwa Nwankwo, Adetoun Sokoni, Ezeogu Victoria Ndozi and others you thereby committed an offence contrary to and punishable under Section 516 of Criminal Code Act, laws of the Federation, 2004.

    “That you Michael Ukiye Diongoli, UK Dion Group And UK –Dion Investment Limited all of No. 21 Buhari Street Peace Court Estate, Lokogoma, Abuja, they are alleged to have on or between the year 2021 and 2022 within the jurisdiction of the Federal High and together with your other staff, did commit a felony to wit: diverted investment funds to the tune of over N3.6billion belonging to the investing public which includes Basil Onugu, Elizabeth Umenwa Nwankwo, Adetoun Sokoni, Ezeogu Victoria Ndozi and others you thereby committed an offence contrary to Section 383(2) F of Criminal Code Act, Laws of the Federation of Nigeria, 2004 and punishable under Section 390(7) of the same Act”.

  • Crude Oil: US shores up reserves with additional 3 million barrels

    Crude Oil: US shores up reserves with additional 3 million barrels

    The Energy Department of the United States has said it plans to purchase 3 million more barrels of crude oil for its Strategic Petroleum Reserve.

    According to a statement from the department, previous solicitation for about 3 MMbbl resulted in contracts awarded to five companies at an average price of about $73 per bbl.

    The move marks the agency’s attempts to begin replenishing the emergency reserve after it released more than 200 MMbbl last year, in part to curb high energy prices.

    The DOE further said that it would accept bids for the new solicitation of sour crude oil through June 20 and contracts would be awarded by June 30 for deliveries in September.

    The previous awards are due for delivery in August.

  • MENA countries vulnerable to rising financial risks – IMF

    MENA countries vulnerable to rising financial risks – IMF

    Volatile growth, high universal subsidies, and loss-making state-owned enterprises expose many low- and middle-income economies in the Middle East, North Africa, and Pakistan to such fiscal risks.

    These factors combine with adverse external developments such as recent interest-rate rises and food and fuel price surges to put public finances under pressure in many countries.

    In a new report titled the “MENAPEG”, the Fund averred that it often leads to a situation where budget revenue and spending often end up far away from government plans.

    Despite the frequency of these events, policymakers are often caught off guard. Such shocks force them to make ad hoc cuts to development and other priority spending. This also limits many countries’ ability to use fiscal policy to smooth economic slowdowns, precisely when it is needed most.

    The report noted that economic growth is more volatile than in other parts of the world just as high reliance on resource revenue and pervasive universal energy and food subsidies across the region have also exposed budgets to fluctuations in commodity prices.

    “Second, state ownership of non-financial corporations and banks in these countries can generate sizable government obligations that can come due when negative events occur, known as contingent liabilities. For example, a public electric or water utility company that faces large operational losses might require government financial assistance to continue providing services.

    “Many state-owned enterprises (SOE) in the region are financially weak and require regular government cash injections. This often reflects their role in fulfilling quasi-fiscal activities such as selling goods and services at below market rates or creating jobs, rather than being run on a commercially sound basis. Contingent liabilities may also be arise from public-private partnerships (PPPs). For example, certain PPP contracts might require government to compensate a private partner if collections, as in toll road projects, fall short of projections,” the Fund noted.

    As a way of addressing this, the Fund urged policy makers in the region to strengthen their capacity to analyze and manage fiscal risks.

    However, the report said, the region’s governments still need to take steps to enhance fiscal risk data collection, identification, analysis, and management capacity.

    Economic reforms can help address fiscal risks at the source. For instance, stronger macroeconomic frameworks can lessen growth volatility. Governance reforms and asset divestment can moderate contingent liabilities or lower the odds of their materialization. And improved budget processes reduce the likelihood of surprises.

    Given various uncertainties, fiscal risks in the Middle Eastern and North African countries cannot be fully avoided. However, better risk awareness and stronger fiscal risk management will reduce budgetary surprises and provide firm ground for long-term development policies.

  • Gunmen kill pastor, 20 others in Plateau

    Gunmen kill pastor, 20 others in Plateau

    Suspected gunmen have killed Rev. Nichodemus Kim of the Church of Christ in Nation (COCIN) and 20 others in Riyom and Barkin Ladi Local Government Areas of Plateau.

    The pastor was killed at Gana-Ropp community of Barkin Ladi, while others were wasted in Rim, Jol, and Kwi communities of Riyom.

    Mr Rwang Tengwong, the National Publicity Secretary of the Berom Youth Movement (BYM), a socio-cultural group, disclosed this in a statement on Tuesday in Jos.

    According to Tengwong, the communities were attacked simultaneously, adding that the attacks were highly coordinated.

    He explained that the attacks which occurred on Sunday night, left many persons with various degrees of injuries, adding that scores were currently displaced.

    ”Twenty-one persons were killed and several others injured on Sunday during coordinated attacks by militias on residents of Rim, Jol, Kwi communities of Riyom as well as Gana-Ropp community in Barkin Ladi

    ”Two persons were killed at Rim, Seven at Jol, 11 at Kwi, all in Riyom, while a clegyman, Rev. Nichodemus Kim, was killed in Gana-Ropp Barkin Ladi

    ”The attacks on Rim, Jol and Kwi were simultaneously coordinated and held between 2 p.m. and 7 p.m. on Sunday.

    ”In Kwi, an entire community, Hei-gwe, was razed and over 100 farmlands destroyed,” he said.

    Tengwong called on the government and the security agencies to fashion out lasting solutions to the spate of attacks and killings in communities.

    ”The BYM under the leadership of Solomon Mwantiri, hereby condemns the coordinated attacks and other forms of provocation meted out on innocent persons of Plateau since after the 2023 general elections.

    ”We call on the new administration both at Federal and state levels, to come up with new strategies to address the security situation in the country and particularly in Plateau.

    ”Security personnel must also wake up to their statutory responsibilities to safeguard lives and property.

    ”BYM equally calls on the Berom nation to remain calm and law-abiding, but must explore every avenue to defend their communities as we cannot sit and watch while they kill us one after another,” he said.

    The Police Public Relations Officer (PPRO) of the command, DSP Alabo Alfred, could not be reached for comments.

    However, Mr. Caleb Mutfwang, the Governor of the state, confirmed the killings in a statement by Mr Gyang Bere, his Director of Press and Public Affairs (DOPPA).

    The governor further confirmed the kidnap of a traditional ruler in Mushere, Bokkos Local Government Area of the state.

    He promised residents of the state his commitment to tackling the spate of attacks, killings, kidnappings, and other security challenges currently facing the state.

    ”Let me assure the people that we are retooling the security apparatus of the state and by the special grace of God we will have a secured Plateau,” he said.

    The governor called on the residents of the state to keep away their differences and unite towards moving the state forward.