Okonjo-Iweala, govs trade words over alleged $20 bn oil money

The Minister of Finance, Ngozi Okonjo-Iweala, and governors of the 36 states of the federation have continued to trade words over allegations that the outgoing administration has not accounted for about $20 billion that was realised as excess crude revenues in the last two years.

The governors, under the platform of the Nigeria Governors’ Forum, on Tuesday asked the Minister to give explanations as to what happened to about $20 billion that accrued in the Excess Crude Account during the period.

Presenting the communique at the end of the meeting in Abuja, Rivers State governor, Rotimi Amaechi, said members of the forum was interested in knowing from the Minister how the accumulated revenue was disbursed.

“In the light of the fact that funds in the Excess Crude Account were last disbursed in May 2013, there is need for the Minister of Finance and Coordinating Minister of the Economy, Ngozi Okonjo-Iweala, to provide explanations for accruals to this account from June 2013 to April 2015, which is estimated at over $20 billion,” Mr. Amaechi said.

Jonathan would’ve suffered worse defeat if we didn’t help – Fani-Kayode

Former minister and spokesperson for President Goodluck Jonathan’s campaign, Femi Fani-Kayode, has debunked claims that hate campaign by some members of PDP Presidential Campaign Organisation caused the party’s defeat at the March 28 presidential election.

Mr. Fani-kayode, who served as Director of Media and Publicity of the organisation, spoke with newsmen in Abuja on Tuesday.

He said President Goodluck Jonathan would have lost the presidential election by at least 10 million votes but for the intervention of his campaign team.

Mr. Jonathan lost the election by less than 3 million votes.

Read 10 Ways to Repair U.S.-Nigeria Ties – Ambassador Carson

As Nigeria prepares for a democratic transition of presidential power on May 29, the United States needs to act fast, wisely and comprehensively to strengthen relations by reaching out to the new government of President-elect Muhammadu Buhari.

Nigeria’s elections were a political triumph for its people and for the future of democracy across sub-Saharan Africa. There was widespread apprehension that the elections would undermine stability, that there would be violence, that Boko Haram insurgents would disrupt voting, that those displaced by violence would not be able to vote and that new voting technology would lead to chaos and confusion at the polls.

DON’T CALL ME GENERAL AFTER MAY 29 –BUHARI Media team unveils official portrait

The Directorate of Me¬dia and Publicity for the President-elect, Muhammadu Buhari Media Team has unveiled the official portrait and nomen¬clature of President-elect and Vice-President-elect in Lagos yesterday.
At a brief interaction in La¬gos, the Director of the media team, Mallam Sheu Garba said, “from May 29, 2015 the President-elect and Vice-Pres¬ident-elect are to be respec¬tively known and addressed as Muhammadu Buhari, Presi¬dent, Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria and Prof. Yemi Osinbajo, SAN, Vice President, Federal Republic of Nigeria.
The official portraits were then unveiled to journalists.

My Life In Danger, SUG Preisident Of UNIZIK Eyisi

The  Students Union Government (SUG)  President,of  Nnamdi Azikiwe  University, Awka, Anambra State, Mr Noble Eyisi has accused the management of the institution of  planning to expel him from the institution for championing the cause of students.

He also alleged that the University Vice Chancellor, Prof. Joseph Ahaneku paid an undisclosed amount to his colleagues in SUG leadership to facilitate his impeachment.

Eyisi in a press briefing in Awka yesterday said his aides are currently being detained in a cell in the school, alleging that plans were on by the management of the institution to also arrest him.

In an earlier response however, the Public Relations Officer of the school, Dr Emma Ojukwu insisted that Eyisi and other members of the executives of the SUG were like their children, and that despite the defamatory letters being circulated by the president of SUG against the Vice Chancellor, Prof Joe Ahaneku, the school will not take action, but hopes he will change.

World Communications Day: Bishop Ezeokafor Calls for Better Welfare Packages for Journalists ..Says Media Job Is A Risky Profession

BY ABUCHI IFESINACHI, AWKA

The Catholic Bishop of Awka Diocese, His Lordship Most Rev. Dr. Paulinus Ezeokafor has called on the government at all levels as well as private sectors to protect journalists across the 36 States of the federation and as well offer them better welfare packages noting that media job is most risky profession.

Bishop Ezeokafor who stated this at St. Patrick's Catholic Cathedral, Awka on Friday 15 May, 2015 while briefing newsmen on the theme of this year's World Communication Day celebration entitled Communicating the Family: A Privileged Place of Encounter with the Gift of Love which
was in continuity with the previous year’s message said 'Every job is risky but the media is more risky profession. The practitioners should be well remunerated.

JOHN KERRY TO LEAD US DELEGATION TO BUHARI’S INAUGURATION • Revenue slump may force President-elect to Issue Eurobonds

The United States’ President Barack Obama has named his Secretary of State, Hon John Kerry as the head of the American "Presidential delegation" to the inauguration of Muhammadu Buhari as the president of Nigeria, come May 29, 2015.
THISDAY confirmed last night from a statement from the White House that other members of the US delegation will be announced on a later date.
The United States has been specially particular in its support for the democratic growth in Nigeria.
Meanwhile, Nigeria’s deteriorating fiscal position, may force the incoming Muhammadu Buhari’s administration to tap from the international capital market by issuing Eurobond.
A rally that drove yields on Nigerian Eurobonds to six-months low has created an opportunity for the president-elect’s government to tap international markets soon after he is sworn in on May 29, Bloomberg reported monday.
Rates on Nigeria’s $500 million of securities due July 2023 fell to 5.45 per cent this month, the lowest since November 4. Yields have dropped by more than 300 basis points since reaching a record high of 7.83 per cent on February 11. Nigerian dollar debt has returned seven per cent this year, compared with the 2.8 per cent average for peers in Africa and the Middle East, according to data compiled by Bloomberg.

OSOBA, DANIEL SET TO JOIN APC

There are strong indications that former Governors of Ogun State, Aremo Olusegun Osoba, and Otunba Gbenga Daniel and their supporters are heading back to the All Progressives Congress (APC).
Osoba and his supporters defected from APC to the Social Democratic Party (SDP) ahead of the 2015 general elections.
Osoba was a founding father of the APC but a disagreement with Ogun State Governor, Senator Ibikunle Amosu, also of the APC, and the inability of the national leadership of the APC to settle the quarrel led to his moving to the SDP with his supporters.
He also alleged marginalisation of his group by the national leadership of APC as the reason for the defection.
Osoba and his group contested and lost the last election on the platform of the SDP, though there were several last minute moves to reconcile with the APC.
P.M.NEWS reliably gathered that the reconciliation moves have been revived and delegations from the APC have met twice with Osoba in his Abeokuta home to ensure his return to the party.
Sources close to the two time former Governor of the Gateway State confirmed toP.M.NEWS that the first delegation led by the National Deputy Chairman of the APC and former Governor of Ekiti State, Engineer Segun Oni, met with Osoba immediately after the Presidential and National Assembly elections in Abeokuta.

JONATHAN GOVT INCURS N5TN DOMESTIC DEBT IN FIVE YEARS

In the over five years that President Goodluck Jonathan has been presiding over the affairs of the country, the Federal Government has borrowed N5.04tn from the domestic debt market.
Jonathan became Nigeria’s acting President on February 10, 2010 and substantive President on May 6,2010 following the death of President Umaru Yar’Adua on May 5,2010. On May 29, 2011, he was sworn in as an elected president.
Records at the Debt Management Office showed that the domestic debt of the Federal Government stood at N3,466,360,000,000 (N3.47tn) as of March 31, 2010.
The latest debt statistics from the DMO as of March 31, 2015 showed that the domestic debt had risen to N8,507,545,474,000 (N8.51tn).
This means that in the last five years, the Federal Government had borrowed N5.04tn from domestic lenders. It also means that within the period, the domestic debt of the Federal Government grew by 157.48 per cent.
A breakdown of the domestic debt profile of the Federal Government by instruments showed that FG Bonds accounted for N5.37tn or 63.13 per cent of the total domestic debt.
The Nigerian Treasury Bills, on the other hand, accounted for N2.87tn or 33.68 per cent of the Federal Government total domestic debt profile.
Similarly, the Nigerian Treasury Bonds accounts for N271.22m or 3.19 per cent of the Federal Government’s total domestic debt profile.
The DMO statistics also showed that the domestic debts of the states grew by 116.83 per cent within the same period.

2015 POLLS: AMAECHI WANTS BUHARI TO PROBE ARMY, POLICE IN RIVERS

Rivers State Gov¬ernor, Chibuike Amaechi, has urged the incoming Fed¬eral Government to probe the role of the police and the army in the last general elec¬tions in the state.
Amaechi made the ap¬peal yesterday at the Greater Together Campaign Organ¬isation (GTCO) of All Pro¬gressives Congress (APC) special thanksgiving service to celebrate God’s faithfulness throughout the electioneering period in the state held at the Obi Wali International Confer¬ence Centre, Port Harcourt.
He alleged that the police, army, militants and the Inde¬pendent National Electoral Commission (INEC) were used to rob APC of victory and cause electoral irregularities in the state.
Also, he requested that the police commission should dis¬cipline police officers indicted in the electoral crisis in the state, “whether they were pro¬moted and transferred out of the state or not.”
“Let us ask the Federal Government to investigate the crisis in Rivers State. Army should be investigated because they participated in the general elections,” Amaechi said.
The state governor ex¬pressed gratitude to God for saving him from the outgoing Federal Government, through the victory of the President-elect, General Muhammadu Buhari.
“Why do I have to thank God? For our lives! He an¬swered our prayers by making Buhari the president. Imagine if Buhari did not win? Just sleep and wake up and imagine that Buhari did not win, what would have happened?