Buhari presents 2018 budget, Suicide bomber strikes near Maiduguri

CBN Governor, Emefiele violates laws, illegally operates secret companies in tax havens; Buhari presents N8.6 trillion 2018 budget to National Assembly; Suicide bomber strikes near Maiduguri; Senate wants Excess Crude Account scrapped and much more.

1. Violating laws, CBN Governor, Emefiele, illegally operates secret companies in tax havens

The Governor of the Central Bank of Nigeria, Godwin Emefiele, had stakes in at least three companies in offshore tax havens, and, by his own admission, illegally remained connected to at least one of them until July 2017, while also holding on to his top CBN job, an investigation by PREMIUM TIMES and the International Consortium of Investigative Journalists (ICIJ) has shown.

The data shows that the CBN governor jointly owned the identified shell companies with Zenith Bank Chairman, Jim Ovia, who was his (Mr. Emefiele’s) boss at Zenith and with whom he appears to maintain close business ties.

Mr. Emefiele worked as deputy to Mr. Ovia when the later served as managing director at Zenith. He was promoted managing director of that bank on August 1, 2010 when Mr. Ovia moved up as chairman. Mr. Emefiele became CBN governor on June 3, 2014.

2. Senate calls for scrapping of Excess Crude Account

The Senate on Tuesday called for the abolition of Excess Crude Account.

The Senate also called on the executive to pay the amount above the oil benchmark into the Federation Account in compliance with the constitution.

It further requested the executive to act in conformity with Sections 80 (1–4) and 162(1–3) of the 1999 Constitution (Amended) in its revenue receipt and expenditure.

3. Suicide bombers in fresh strikes near Maiduguri

At least four persons were confirmed dead and six others — all local farmers — got injured after suicide bombers believed to be deployed by Boko Haram insurgents detonated themselves near Maiduguri, the Borno state capital, on Tuesday, witnesses said.

Multiple blasts were heard across the city early Tuesday starting at about 8.20am to about 9.51am.

A top official of the Civilian-JTF, Danbatta Bello, told PREMIUM TIMES the blasts were caused by four female suicide bombers who were trying to invade Maiduguri through a suburb called Mairi-Kwait, located behind the University of Maiduguri.

4. PREMIUM TIMES, others barred from covering 2018 budget presentation

Journalists, mostly from online news media, were on Tuesday prevented from entering the National Assembly to cover the 2018 budget presentation by President Muhammadu Buhari.

Journalists from Premium Times and several other online publications, and some in the print and electronic media, were denied entry into the premises of the National Assembly as early as 7 a.m. Tuesday.

The journalists, despite presenting their official and National Assembly identity cards, were asked to check their names from an “accreditation list”.

5. Trump rejects stricter gun laws after Texas church shooting

President Donald Trump says there is no reason to amend firearms legislation in the United States following the mass shooting at a Texas church over the weekend.

“If the gunman had not been stopped by other people who were also armed, things could have been much worse,’’ the president told journalists in Seoul during his five-country Asian trip on Tuesday.

Trump suggested that hundreds more could have been killed as opposed to the 26 who died.

6. After 250 snakebite deaths, Nigerian govt claims no anti-snake venom scarcity

The Federal Government says there is ample stock of anti-snake venom in Nigeria, contrary to a report that the scarcity of the drug has led to the death of hundreds of people within three weeks in two states in the country.

According to the report on Sunday by the News Agency of Nigeria, 250 people died in Plateau and Gombe states from snake bites because there was no anti-snake venom to treat them.

According to the report, scores of snake-bite patients were lying helpless in critical conditions at three medical centres in General Hospital, Kaltungo, Ali Mega Pharmacy, Gombe and Comprehensive Medical Centre, Zamko, Plateau State.

7. El-Rufai vows to sack over 20,000 teachers who failed competency test

The governor of Kaduna State, Nasir El-rufai, on Tuesday said the state will not rescind its decision to sack 21,780 teachers, who recently failed the competency test conducted by the state government.

The Kaduna State Chapter of the Nigerian Union of Teachers, NUT, had threatened that its members will proceed on an indefinite strike from November 23 to protest the sack of the teachers.

Apparently responding to the threat in a Facebook post, Mr. El-rufai said, he will not bow to such threats.

8. Infrastructure, Defence get bulk of Buhari’s N8.6 trillion budget

Infrastructure, represented by the Ministry of Power, Works and Housing and Ministry of Transportation, and Defence, will take the bulk of federal capital spending in 2018, according to a proposal submitted by President Muhammadu Buhari to the National Assembly Tuesday.

The three ministries will get money more than the 12 other sectors combined. Dubbed the ‘Budget of Consolidation,’

President Buhari said the budget would consolidate on the achievements of previous budgets and deliver on Nigeria’s Economic Recovery and Growth Plan (ERGP) 2018–2020.

Giving a further breakdown of the budget, Mr Buhari said that 30.8 percent (or N2.652 trillion) of the budget will be allocated to capital expenditure while N3.494 trillion is budgeted for recurrent expenditure.

9. Jersey Island gives conditions for return of $300 million Abacha loot

The government of Jersey Island has said that the Abacha loot would not be released to Nigeria if a third party representation is involved in the negotiation.

Nigeria’s former military dictator (1993–1998), Sani Abacha, is believed to have stolen billions of dollars of government money before his death in office.

According to a statement by the anti-graft agency, EFCC, the Minister and Attorney General of Jersey Island, Robert MacRae, disclosed the condition for return of the funds on Tuesday during the ongoing 7th Session of Conference of State Parties to the United Nations Convention Against Corruption, holding in Vienna, Austria.

10. Buhari presents N8.6 trillion 2018 budget to National Assembly

President Muhammadu Buhari on Tuesday in Abuja presented about N8.612 trillion as the 2018 Appropriation Bill to a joint session of the National Assembly, saying the projected expenditure will drive rapid economic recovery.

He said at the session that with a benchmark of 45 dollars per barrel at an exchange rate of N305 to a dollar in 2018, the budget would consolidate on the achievements of previous budgets to aggressively steer the economy to the path of steady growth.