Naira devalued, now 168 to the US dollar

CBN Governor, Mr. Godwin Emefiele

The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday bowed to pressure by devaluing the naira from N155 to N168 to the US dollar.

The MPC tightened the apex bank’s monetary policy by allowing some flexibilities in the exchange rate to stem speculative activities and depletion of reserves.

The announcement was made by the CBN Governor, Mr. Godwin Emefiele, while briefing journalists shortly after the MPC meeting   at the bank’s headquarters   in Abuja.

The   bank also increased the Monetary Policy Rate from 12 per cent to 13 per cent.

The MPR is the anchor rate at which the CBN, in performing its role as lender of last resort, lends to Deposit Money Banks to boost liquidity in the banking system.

By this increase of 100 basis points in MPR, the cost of funds to the banking system from the apex bank has now increased thus, leading to an increase in lending rate from commercial banks to businesses.

Emefiele also said given the level of excess liquidity in the banking system, it becomes imperative for the CBN to address the sources of foreign exchange demand pressure.

To achieve this, it devalued the naira by moving the midpoint of the official window of the foreign exchange market from N155 to N168 to a dollar.

He added that the committee also approved a widening of the band around the midpoint by 200 basis points from +/-3 per cent to +/-5 per cent.

Another decision reached at the end of the two-day meeting, according to him, is an increase in the Cash Reserves Requirement on private sector deposits by 500 basis points from 15 per cent to 20 per cent with immediate effect.

The bank also retained the public sector CRR at its current level of 75 per cent; maintained the symmetric corridor of +/- 200 basis points around the MPR, retained both the public sector CRR at 75 per cent and the foreign exchange trading position at one per cent.

“The committee was of the opinion that the economy stood to gain by further tightening of monetary policy stance to anchor inflation expectations; and some flexibility in the exchange rate to stem speculative activities and depletion of reserves.

“Consequently, the Committee decided as follows; increase the MPR by 100 basis points from 12 to 13 per cent, increase the CRR on private sector deposits by 500 basis points from 15 per cent to 20 per cent with immediate effect; move the midpoint of the official window of the foreign exchange market from N155/US$ to N168/US$,” he said.

Naira devaluation

In devaluing the country’s currency, Emefiele said the committee considered the fact that the falling oil price had reduced the accretion to external reserves, thus constraining the ability of the bank to continually defend the naira and sustain the stability of the exchange rate.

He said while the supply side had been further weakened by the commencement of normalisation of monetary policy by the United States Federal Reserve following the termination of the third quantitative easing on October 29, 2014; the pressure from the demand side of the foreign exchange was aided mostly by the excess liquidity conditions in the banking system and speculative activities.

For instance, he said it had become increasingly worrisome that improvement in liquidity conditions in the banking system, which was designed to enhance the resilience and stability of the banking system, had not translated into increased credit expansion to the real sector to engender inclusive growth and boost employment.

Rather, he lamented that this liquidity had led to an upward pressure in the foreign exchange market and Standing Deposit Facility window of the Bank thus making deposit money banks to continue to exercise caution in their approach to lending.

The CBN governor said a banking system with an overly high profit motive negates the core tenets of banking and purpose of a banking licence, noting that under the current circumstance, monetary policy must be bold and emphatic.

He said, “The current situation demands that the Bank confronts the issue of declining external reserves head-on in order to strengthen the value of the domestic currency.

“Consequently, stabilising prices and maintaining exchange rate stability and charting a sustainable path for medium to long-term growth are the immediate top priorities.

“In the committee’s opinion, a more flexible naira in the face of non- existent fiscal buffers was the most viable policy option at a time of heightened demand pressure for foreign exchange and falling oil prices.

“The committee was, therefore, of the view that if it failed in taking the right policy actions now, the market would force the Bank to take more drastic actions in the future with far less foreign exchange reserves.

“Also, given the level of excess liquidity in the banking system, it becomes imperative for the Bank to address the sources of the foreign exchange demand pressure.”

The CBN governor called for a diversification of the economy, adding that Nigeria had no business importing rice, fruit juice and milk.

He lamented that the importation of these three products was putting intense pressure on the naira.

He said, “We have seen reserves pressures coming from $39bn to $36bn. It’s unfortunate that the pressures have come. But I think what could have been done, we could have taken measures to diversify our economy.

“There is a need for us to diversify. Why should we be importing rice? Why should we be importing fruit juice into the country? Why should we be importing milk?

“In fact, before I was born, milk was being imported. What rocket science do we need to produce milk. It is just for people to get committed and embrace agriculture.

“I must confess that at this stage, we don’t have a choice, we must have to embrace import substitution before we talk of export-oriented industrialisation.”

Fuel subsidy removal

The governor said the committee was of the view that the softening crude oil prices could provide necessary leverage for the fiscal authorities to reduce budgetary outlays on fuel subsidy and channel such savings to growth enhancing sectors of the economy.

He said, “The committee also noted that unlike in previous episodes, the current downturn in oil prices is not transitory but appears to be permanent; being a product of technological advancement.”

For instance, he said currently, the US which used to be Nigeria’s former major oil export destination now meets an average 80 per cent of its domestic oil demand from local shale oil retorting technology production.

The US, he revealed, also exports over eight million barrels of crude oil daily.

He said, “The committee took note of the supportive fiscal stance in this regard and public commitment to take advantage of the low oil price to reduce fuel subsidy spending and liberalise prices as in many emerging economies.

“Furthermore, the Committee expressed satisfaction with the recent demand management measures announced by the fiscal authorities to contain pressure in both the goods and money markets and provide some respite in the near term.”

$73 oil price benchmark too optimistic

In the light of declining oil prices, the CBN boss said the committee was of the view that the oil price benchmark of $73/barrel proposed in the 2015 Federal Government budget might be overly optimistic.

Emefiele said in view of the fact that prices of oil might further decline, there was the need for considerable caution on the budget’s revenue projections.

He   argued that a weak public finance may impinge adversely on growth prospects as it might lead to reduction in critical public and private consumption and investment spending.

The CBN boss said, “People are not that optimistic that this drop will continue particularly given what is happening in the Middle East – the fact that for instance if Iran reaches its deal with the US and other stakeholders that it is negotiating with that the supply of crude into the market will further increase and this will further create further reduction in crude prices and will also have adverse consequences on the economy.

“That reason, we just feel that we need to put it on notice that the $73 per barrel that has been anchored for the benchmark for the budget looks good but not that pessimistic enough.

“I think it is good for you to be pessimistic because when you are pessimistic, you protect your downside rather than being optimistic and leave your downside open and when the risk eventually occurs, you find out that you have a problem.”

He noted that the CBN would work with the Federal Government to ensure that the austerity measures which were unfolded   recently would not have negative effects on the people.

Emefiele said, “A couple of measures have no doubt been taken by the fiscal authority talking about the austerity measures, trying to look at other means by which we can raise our non oil revenues, imposing certain taxes on luxury items.

“ Nothing is too much in terms of contributing to keep the economy running well but I think that there are other measures that could be though about that would help the situation.

“We will work together to see how this tightening and the austerity measures do not get too hard on our people.”

Insecurity, a threat to growth outlook

On the growth outlook, the CBN governor said the committee noted the robust expansion in domestic output in the third quarter of 2014 against the tepid growth in the global economy, but cautioned that the continuing insurgency in the North-East in combination with other risks could adversely affect the growth outlook.

He stated that the growth had been anchored by the improved performance in services, agriculture, trade, and industry, and called for a passage of the Petroleum Industry Bill to unlock the potential of that sector of the economy.

Given the not too impressive fiscal revenue outlook, the committee, according to him, challenged the sub-national governments to seize opportunity in drop in revenue to reduce reliance on allocations from the Federation Account in funding their operations.

To this end, the committee commended the efforts of some states which recorded unprecedented growth in their Internally Generated Revenues in 2013.

Consequently, it enjoined other states   to emulate those states by strengthening their IGR mechanisms with a view to minimising their reliance on FAAC allocations with attendant disruptions to their budget implementation arising from dwindling oil revenues.

However, he said the 2015 fiscal period would witness further tightening in money supply unless there is an improvement in the global economy.

Emefiele added, “For 2015, we would continue to monitor the situation. What I foresee is that the tightening measures will continue unless we see an improvement in the global economy particularly in the area of oil price where we are getting some vulnerability.

“But we will continue to monitor it but what I’m saying is that in 2015, we would continue in the path in terms of tightening.”

Groups plan mass action over insecurity, NASS crisis

Some 20 civil society groups have announced plans to mobilise Nigerians for street protests against the backdrop of insecurity in the country and alleged disregard for the law by the Federal Government.

The groups, which formed an alliance called Nigerians for Survival of Democracy, in a press briefing on Tuesday, said they were worried about recent political crisis in the country.

National Coordinator of the alliance, Mr. Raji Rasheed, said the Jonathan administration had failed to convince Nigerians that it was capable of delivering good governance to Nigerians.

He said, “The level of insecurity and terror activities has reached an unprecedented level in the Northeast of the country, after more than 18 months of state of emergency. There are compelling reasons  to doubt the sincerity of this government since, many times, our soldiers on the battlefield have complained of lack of incentives which culminated into chaos and suspicion among the Army hierarchy.

Rasheed, who said the groups would organise protests in all the state capitals on December 4, 2014, called on Nigerians not to be deluded by the promise of a free and fair election in 2015.

He said the groups were not interested in a bloody revolution because many Nigerians had lost their lives to the Boko Haram sect.

He said, “Nigerians should not be deluded that this administration is sincere in delivering a free and fair election in 2015. One only needs to look at the events of the last two years to understand the dangerous and unprecedented level of division, deceit, corruption, anarchy and lawlessness that was either perpetrated or unequivocally supported and promoted by this government. With recent events, we are more than convinced that a free and fair election in 2015 is almost impossible.

“Just as we thought this may never happen, we saw just last few days how the same ruling party in Ekiti State locked out 18 members of the legislative arm and used the remaining seven to impeach the Speaker of the Assembly. The Nigerian Bar Association was quick to condemn this illegality but to us, it is a sign of worst things to come.”

Secretary of the NSD, Mr. Kazeem Adekanye, also accused the Independent National Electoral Commission of irregularity in the way it handled the voter registration.

Adekanye said the groups were burdened by the fact that many Nigerians may be disenfranchised in 2015, owing to mistakes in the registration.

“The NSD would initiate a legal action against INEC if the issues are not addressed with 72 hours from today. We have also resolved to embark on a mass action across the country on December 4, 2014 to press home our demands,” he added.

Deploy more troops against Boko Haram, Rep tells Jonathan

A member of the House of Representatives, Babatunde Adewale, (Lagos-APC), on Wednesday advised President Goodluck Jonathan to deploy more troops to states affected by insurgency.

Adewale said in Abuja that it was not conducive for the house members to discuss the extension of the state of emergency in Adamawa, Borno and Yobe States.
According to him, there is a provision in the Armed Forces Act that gives the president power to deploy army to troubled zones.
Adewale said, “The government should allow other arms of government to perform their duties.
“Let him deploy the army to these places and continue the operations pending the time that insurgency will come down.
“All of us have to be patriotic; we have suffered for this democracy and we should nurture it, we should allow it to work.”
He therefore, advised that the army operations should continue until the house resumes.

Accommodations this November

(1) New 3bdrm duplex with bq on own compound in an estate in aguingi going for 2.5mil.

(2) New 4bdrm duplex with bq in own compound in an estate in aguingi-3mil.

(3) Neat 3bdrm flat in an estate in Aguingi,neat compound and environment-1.2mil

(4) Well renovated 3bdrm upstairs in an estate in Aguingi,good environment with paved road to house-1.5mil

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Iranian Officials Seem Cautiously Optimistic About the Nuclear Talks

courtesy TIME.

Supreme Leader Ayatollah Ali Khamenei, attends a meeting in Tehran, Sept. 7, 2014. AP

Releases in Iran's state-controlled media seem to indicate the country is preparing for a deal at the nuclear talks in Vienna

There’s no shortage of pessimism about whether Iran and six world powers can reach a comprehensive deal on the country’s nuclear program by Nov. 24, the self-imposed deadline. Time is short, and as a senior U.S. official said before leaving for Vienna, where the talks began, “we have some very serious gaps to close.” But those looking for optimism need search no further then Tehran’s official media. Tightly controlled by the regime that is the ultimate authority on any pact, the country’s media may be preparing the Iranian public for an agreement.

While hardliners in Tehran grump about the talks, Supreme Leader Ali Khamenei has clearly aligned himself with the negotiators—even posting an interview with one of the diplomats, deputy foreign minister Abbas Araqchi, on his personal website this week

“Araqchi basically said ‘We’re winning this, we’re not giving in,’” says Abbas Milani, who heads the Iranian studies department at Stanford University. Milani was astonished by the post. Never before had Khamenei’s office made the site a forum for another official, even one understood, as Araqchi is, to be serving as the Leader’s personal representative. It signaled a full embrace of the talks by the man who, as his title makes clear, holds ultimate power in the Islamic Republic.

“The headline was that the leader has had oversight of the entire negotiating process,” says Milani. “It’s clear to me this was an attempt to make a claim for victory and dissuade the idea that [Iranian President Hassan] Rouhani is doing this on his own and will get all the credit.”

On the same day as that post, the man Khamenei named to lead Iran’s Revolutionary Guard Corps was widely quoted on government outlets as saying that a nuclear deal was consistent with the ideals of the 1979 Islamic Revolution, which remains the litmus test for all government endeavors.

Mohammad Ali Jafari, the commander, also appeared to prepare the public for elements of a deal that may not look like a win for Iran. “If it appears that there are aspects of this where we’re accepted humiliation, first of all it’s not true — we are winning,” Jafari insisted. “But those perceptions of humiliation are because of the clumsy management and inexperience of some of our negotiators.”

The goal, the commander said, was the removal of the economic sanctions imposed on Iran by Washington and other world powers. “God willing, this goal will be reached,” Jafari said.

There was more. Ali Larijani, speaker of the Iranian parliament, which is dominated by conservatives, spoke of “our spirit of resistance” taught by Khamenei and his predecessor Ayatollah Ruhollah Khomenei as “the reason or our success, and why in spite of all efforts by the enemy they could not stop our progress on the nuclear front.”

“It is possible to have a deal,” Larijani added. “It’s just important for the U.S. not to ask for new conditions.”

Some in Iran complained that new conditions are just what the U.S. has indeed demanded. One hardline member of the parliament, or majlis, claimed to have seen the contents of an eight-page proposal Secretary of State John Kerry reportedly showed Iranian negotiators in Oman the previous week, and compared it to the Treaty of Turkmenchy, the 1828 capitulation to Russia that Iranians consider the epitome of humiliation, losing not only territory in the Caucasus but even the right to navigate on the Caspian Sea, which forms Iran’s northern border.

But to Iran watchers, what’s truly significant is that such grumbling is only background noise in what appears to be a concerted effort by Iran’s top echelon to set the foundation for a deal—if not on Monday, then if the talks are extended, as they may well be. There may be more riding on it than just escape from economically ruinous sanctions. The New York Times on Thursday quoted Amir Mohebbian, a conservative adviser long tied to the Leader’s office, predicting a nuclear deal as a harbinger of a strategic change in Iran’s entire political orientation.

“If there is a deal, and if it is good, the entire system will go along with it,” Mohebbian said in Tehran. “There will be a huge political shift after the deal. It is my conviction that those who make decisions within the system want it to be alive and supported. For survival, we need to change.”

It’s just such a change that President Obama has repeatedly said a nuclear deal might herald, opening the way for Iran to end its pariah status and return to “the community of nations.” So it’s possible Mohebbian is saying no more than what the administration wants to hear. But the expectations of a deal are running high in Iran, and the government appears to be doing much less than it might to discourage them.

Eti-Osa,Vi youths presents- Goshen street jam.

we welcome all and sundry to the hottest Island street jam, to be held at the Goshen gardens just by Goshen estate Elf-Bus stop.

Come have fun with youths from the hood as we celebrate the end of the year/Christmas season.

22nd december-5pm till dawn




Address description: connect Elf bus stop on the Lekki expressway, drive down to the end of the Elf road and navigate left to Goshen.

It’s a disgrace to celebrate Chibok’s recapture –Oyegun

National Chairman, All Progressives Congress, Chief John Odigie-Oyegun

The National Chairman of the All Progressives Congress, Chief John Odigie-Oyegun, on Monday said it was a disgrace for the military to celebrate the recapture of Chibok from Boko Haram.

Oyegun said this while receiving completed presidential expression of interest and nomination forms, from former Vice President, Atiku Abubakar, in Abuja, on Monday.

The party chairman explained that Nigeria had been so mismanaged that the rag tag Boko Haram sect was having a field day while the ruling party was busy orchestrating impunity in Ekiti State.

He said, “Today, we are celebrating a victory, how disgraceful? A country like Nigeria? 170 million people, Boko Haram drives you out of Chibok then you manage to reinforce and come back and drive them out and you are celebrating? What is there to celebrate?”

He enjoined Atiku and all other aspirants for the party’s sole ticket to bear in mind that they were seeking for an opportunity to tackle the enormous challenge the PDP’s misrule had plunged the nation into.

Oyegun said, “That is the extent to which this nation has degenerated and that is the responsibility that falls on your shoulders.

“Have it in your heart, (and) at the back of your mind that you are dealing with a nation that needs salvaging, with a nation that needs redemption, with a nation that is virtually at the edge of the precipice and we are dealing with a party that just does not care, and even if they care, they don’t know what to do to get this nation out of the precipice.”

According to him, the need for change becomes evident with each passing day. He condemned the action of seven members of the Ekiti State House of Assembly who purportedly impeached the Speaker of the 26-member House of Assembly.

He also said the APC was proud of all its presidential aspirants for running a mature campaign for the ticket.

In his remarks, Atiku said he was grateful to the party leadership for giving him the privilege to be the first to collect his nomination forms and the first to submit same.

He also said, “Let me assure you, Mr. Chairman, we will continue to be loyal and dedicated party members no matter the outcome of this election.

“I want to, therefore, use this opportunity, Mr. Chairman, to return the two forms; expression of interest and also the nomination forms duly completed and accurately.”

Earlier, the Adamawa State Chapter of the APC had endorsed Atiku as its candidate for the party’s presidential ticket.

The state Chairman of the party, Binta Garba, who was flanked by all members of the executive council, said, the state executive unanimously adopted the former Vice President.

B’Haram: We’ve recaptured Adamawa towns, says military

Nigeria Defence spokesman, Major General Chris Olukolade

The Special Forces have recaptured some communities which fell into the control of the Boko Haram Islamic sect last week.

It was learnt that the troops of the Nigeria Army captured Gombi, Hong and Pelia and were in control of the areas.

A statement posted on the twitter handle of the Nigerian military on Wednesday stated that that some of the insurgents were killed in confrontations, while many had been arrested.

It was further stated that the soldiers had recovered some arms and ammunition from the captured insurgents.

The statement added that efforts were ongoing to rid the communities in the area of terrorists’ presence.

“Many terrorists are being captured as some die; weapons and equipment are also being recovered. Mopping up operation is going on in the area even now.

“Our troops are in full control of Gombi, Pelia and Hong as operations to clear the area of infested terrorists continue,” the tweets read.

A security source, who confided in our correspondent on Wednesday, said that the military authorities had carried out a huge deployment of personnel for the mission to liberate the communities in the area.

It was added that the military also deployed heavy military hardware, like the Armoured Personnel Carriers, armoured tanks and attack helicopter gunships to ensure sustained patrol in the area.

Also, there are unconfirmed reports that the soldiers were interrogating a lecturer (name withheld) of the College or Education, Hong, Adamawa State, for having questionable links with the Boko Haram.

The source said that the lecturer, who came from the Department of Islamic Studies, was picked up by security agencies on Tuesday.

It was added that troops had advanced and Mararaba, Michika, through Mubi to carry out border patrol operations.

“There is heavy troops’ movement and also large number of armoured personnel carriers and tanks. Also, helicopter gunships have been deployed to patrol the general area.

“The troops have also arrested a lecturer of the College of Education, Hong. There are allegations that the man was the head of the Boko Hara in the area. He was arrested yesterday (Tuesday).

“The place is quiet now; the military recaptured Hong yesterday (Tuesday)….”

Humans may have natural magic instincts

Several streams of research in psychology, neuroscience and philosophy are converging on an uncomfortable truth: Humans are more susceptible to magical thinking than they’d like to admit.

How many words does it take to know you’re talking to an adult? In “Peter Pan,” J.M. Barrie needed just five: “Do you believe in fairies?”

Such belief requires magical thinking. Children suspend disbelief. They trust that events happen with no physical explanation, and they equate an image of something with its existence. Magical thinking was Peter Pan’s key to eternal youth.

The ghouls and goblins that will haunt All Hallows’ Eve on Friday also require people to take a leap of faith. Zombies wreak terror because children believe that the once-dead can reappear.

At haunted houses, children dip their hands in buckets of cold noodles and spaghetti sauce. Even if you tell them what they touched, they know they felt guts. And children surmise that with the right Halloween makeup, costume and demeanor, they can frighten even the most skeptical adult.

We do grow up. We get jobs. We have children of our own. Along the way, we lose our tendencies toward magical thinking.

Or at least we think we do. Several streams of research in psychology, neuroscience and philosophy are converging on an uncomfortable truth: We’re more susceptible to magical thinking than we’d like to admit.

Consider the quandary facing college students in a clever demonstration of magical thinking. An experimenter hands you several darts and instructs you to throw them at different pictures. Some depict likable objects (for example, a baby), others are neutral (for example, a face-shaped circle). Would your performance differ if you lobbed darts at a baby?

It would. Performance plummeted when people threw the darts at the baby. Laura A. King, the psychologist at the University of Missouri who led this investigation, notes that research participants have a “baseless concern that a picture of an object shares an essential relationship with the object itself.”

Paul Rozin, a psychology professor at the University of Pennsylvania, argues that these studies demonstrate the magical law of similarity. Our minds subconsciously associate an image with an object.

When something happens to the image, we experience a gut-level intuition that the object has changed as well. Put yourself in the place of those poor college students. What would it feel like to take aim at the baby, seeking to impale it through its bright blue eye? We can skewer a picture of a baby face. We can stab a voodoo doll. Even as our conscious minds know we caused no harm, our primitive reaction thinks we tempted fate.

How can well-educated people — those who ought to know better — struggle to throw a dart at a piece of paper?

Some philosophers argue that magical thinking is, in some ways, adaptive. Tamar Gendler, a philosopher at Yale University, has coined the term “aliefs” to refer to innate and habitual reactions that may be at odds with our conscious beliefs — as when pictures of vipers, snarling dogs or crashing airplanes make our hearts race.

Aliefs motivate us to take or withhold action. You might enjoy sweets, but would you eat a chocolate bar shaped like feces? Rozin and his colleagues showed that college students would not, though they knew it would not harm them.

Our conscious beliefs tell us to shape up, use our wits and act rationally. But our subconscious aliefs set off deeply ingrained reactions that protect us from disease. The alief often wins.

We may have evolved to be this way — and that is not always a bad thing. We enter the world with innate knowledge that helped our evolutionary ancestors survive and reproduce. Babies know mother from stranger, scalding heat from soothing warmth.

When we grow up, our minds cling to that knowledge and, without our awareness, use it to try to make sense of the world.

Can magical beliefs offer a window into the aggressive mind? My colleagues and I examined this idea in recent research published in the journal Aggressive Behaviour.

In one illustrative study, 529 married Americans were shown a picture of a doll and were told that it represented their spouse. They could insert as many pins into the doll as they wished, from zero to 51.

Participants also reported how often they had perpetrated intimate partner violence, which included psychological aggression and physical assault. Voodoo dolls can measure whether your romantic partner is “hangry” — that dangerous combination of hunger and anger. If we let our blood sugar drop, it becomes harder to put the brakes on our aggressive urges.

In a study published in Proceedings of the National Academy of Sciences, we showed that on days when their blood sugar dropped, married people stabbed the voodoo doll with more pins.

Do people take the voodoo doll seriously? If they don’t, their responses should not relate to actual violent behavior. But they do. The more pins people used to stab the voodoo doll, the more psychological and physical aggression they perpetrated.

Stabbing a voodoo doll can also satisfy the desire for vengeance, another study found. When German students imagined an upsetting situation, they began to see the world through blood-colored glasses, increasing their tendency to ruminate on aggression-related thoughts. Stabbing a voodoo doll that represented the provocateur returned their glasses to their normal hue.

By quenching their aggressive appetite, magical beliefs enabled provoked students to satisfy their aggressive goal without harming anyone.

Yes, children believe in magic because they don’t know any better. Peter Pan never grew up because he embraced magical beliefs. But such beliefs make for more than happy Halloweeners and children’s books. They give a glimpse into how the mind makes sense of the world.

We can’t overcome magical thinking. It is part of our evolved psychology. Our minds may fool us into thinking we are immune to magical thoughts. But we are only fooling ourselves. That’s the neatest trick of all.

US to deploy 1,500 additional troops in Iraq

US President Barack Obama has authorised the deployment of up to 1,500 additional troops to Iraq in order to help train and advise government and Kurdish forces fighting the armed Islamic State of Iraq and the Levant group, the White House has said.
“As a part of our strategy for strengthening partners on the ground, President Obama today authorised the deployment of up to 1,500 additional US military personnel in a non-combat role to train, advise, and assist Iraqi Security Forces, including Kurdish forces,” the statement said on Friday.
The Obama administration will ask Congress for $5.6bn for the operations in Iraq and Syria, which includes $1.6bn for the new “Iraq Train and Equip Fund,” the White House Office of Management and Budget said.
The deployment will roughly double the number of US troops in the country.
Some of the advisors will be deployed to western Anbar province, where the Iraqi army has been forced to retreat from advancing ISIL fighters, a defence official who spoke on condition of anonymity told AFP news agency.
Some of the additional troops will begin to arrive in Iraq in the next several weeks, the official said.
Defense Secretary Chuck Hagel recommended the move to Obama based on a request from the Iraqi government and the assessment of US Central Command, which is overseeing the air war against ISIL, the Pentagon said.
The deployment coincides “with the development of a coalition campaign plan to defend key areas and go on the offensive” against ISIL fighters who have grabbed large areas of Iraq and neighbouring Syria, it said.
The training will focus on 12 Iraqi brigades – nine Iraqi army and three Peshmerga brigades, the Pentagon said.
The training sites will be located in northern, western, and southern Iraq and “coalition partners will join US personnel at these locations to help build Iraqi capacity and capability,” it added.
Obama had previously authorised up to 1,600 troops. His decision on Friday will raise the maximum troop footprint to 3,100.
The US president had resisted keeping troops in Iraq earlier in his term, vowing to end the American presence that began with the 2003 invasion and continued as an occupation through 2011.
ISIL has declared a “caliphate” in territorries in Iraq and Syria it controls, committing widespread atrocities in the areas.
US-led coalition’s fighter jets have been bombing the group’s targets in Iraq and Syria, supporting the ground struggle carried out by the government and Kurdish forces.
ISIL considers Shia Muslims, Christians and members of other religions to be heretics and frequently attacks them.

Tambuwal no longer entitled to security details – Adoke, IGP insists

Speaker of the House of Representatives, Mr. Aminu Tambuwal

The Attorney General of the Federation, Mr. Mohammed Adoke, and the Inspector General of Police Mr. Suleiman Abba, have insisted that the Speaker of the House of Representatives, Mr. Aminu Tambuwal, is no longer entitled to security details.

They argued that Tambuwal had ceased to be a member of the House and its Speaker having defected from the Peoples Democratic Party, which in 2011 sponsored his election into the House of Representatives, to the All Progressives Congress.

They maintained that Tambuwal had now become an ordinary citizen, who was no longer entitled to the privileges attached to the office of the Speaker of the House of Representatives.

These are the contentions canvassed by both the Inspector-General of Police and Adoke in a joint counter-affidavit which they filed before Justice Ahmed Mohammed of the Federal High Court, Abuja, in response to the suit by Tambuwal and the APC.

The IGP and the AGF are the 5th and 7th defendants in the suit respectively.

The plaintiffs filed the suit to challenge the withdrawal of his security details, alleged threat by the PDP to declare his seat vacant and remove him as Speaker.

The lawyer, who represented the IGP and the AGF, Ade Okeaya-Inneh (SAN), argued that the police authorities could not be accused of breaching the Constitution by withdrawing Tambuwal’s security details, since he (Tambuwal) had lost his seat as House member and Speaker.

The counter affidavit which was deposed to on behalf of the AGF and IGP by one of their lawyers, Nnamdi Ekwem, read in part, “The 1st plaintiff (Tambuwal) vacated his seat in the House of Representatives as a member of that House, when he became a member of the 2nd plaintiff (All Progressives Congress) in October 2014, having been elected in 2011 on the platform of the 1st defendant (PDP).

“The seat of the 1st plaintiff in the House of Representatives became automatically vacant by virtue of his defection to the 2nd plaintiff (APC) and consequently ceased to be the Speaker of the 3rd defendant (the House of Representatives).

“The first plaintiff is not constitutionally entitled to security details and as such, the 5th defendant did not contravene any law by its withdrawal of the 1st plaintiff’s security details. The withdrawal of the security details of the 1st plaintiff was necessitated by the fact the he had vacated his office as a member of the House of Representatives and consequently ceased to be the Speaker of the 3rd defendant.

“The 1st plaintiff is no longer a member of the House of Representatives and as such not entitled to any right or privilege attached to the office of the Speaker of the 3rd defendant. That, the 1st plaintiff, as an ordinary citizen of Nigeria, was not exposed to any danger of bodily harm because of the withdrawal of his security details.

Dangote slides to 37th world's richest business man in 24 hours

President, Dangote Group, Alhaji Aliko Dangote

Billionaire business mogul, Aliko Dangote, slid down 14 places to 37^th position in the World Richest Persons list within 24 hours.

Dangote, the President, Dangote Group, who remains Africa’s richest person, was ranked 23^rd on Thursday by Forbes.

A check on Forbes website on Friday, however, revealed that the business mogul, who is said to be worth about $21bn, is now ranked 37^th richest person.

Before Thursday’s ranking as the world’s 23^rd richest person, Dangote, the first black person to be so ranked, occupied the 43^rd position in the world.

The owner of indigenous telecoms company, Globacom, Chief Mike Adenuga, was the next Nigerian on the list, with a wealth of $4.6bn, maintaining the 325th position in the world, while Folorunsho Alakija, with $2.5bn, was 687th in the world, and Abdulsamad Rabiu in the 1,372th position in the world, with $1.2bn.
American billionaire, Bill Gates, reclaimed the title of world’s richest person from telecoms mogul, Carlos Slim Helu, of Mexico after four years.
Gates, according to Forbes, raked in extra $9bnin the last one year and has been at the top of the list for 15 of the past 20 years.
Spanish clothing retailer, Amancio Ortega (best known for the Zara fashion chain) retains the number three spot for the second year in a row, extending his lead over Warren Buffett, who is again number four.
Dangote has also been named the world’s 68th most powerful person.

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asking price: N95,000,000 (ninety million naira)

(2) 3bdrm flats in Lekki phase1, well built- guest toilet and bath, new and spacious from N2.5million (two million, five hundred thousand naira).

(3) plots of lands in Aguingi - N35million. Other plots in Aguingi in good developed area-N40mil,N45mil respectively with gov consent.

(4) Brand new, highbrow 3bdrm flat,all rooms en-suite,upstairs. In an estate in Aguingi- well built with perfect classy finishing. N1.5mil, One and half yrs. 

 
(5) 3bdrm flat with bq in Osapa,brand new and well finished on a paved road-upstairs-N1.9mil. One year rent.

(6) Brand new luxury 3bdrm flat in Aguingi, in a gated close-well built with perfect classy finishing-N2mil/yr. 

(7) Brand new,well finished 5bdrm duplex with bq- fitted kitchen in an estate in aguingi-N4mil/yr.

we have flats,lands,properties and any type of accommodation you require in Ikoyi,Victoria Island, Lekki Phase1, Oniru, Elf, Ikate, Nicon town, Osapa,Aguingi,Chevron and other highbrow areas,down to Ibeju Lekki.


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‘Nigerians’ll reject unscrupulous politicians’

The Grand Khadi, Sharia Court of Appeal, Ilorin, Kwara State, Justice Salihu Mohammed, has said that unscrupulous politicians will be shocked by the outcome of the 2015 general elections.

The Khadi said Nigerians were intelligent and would choose candidates that would work for their interests, having learnt from past experiences.

He spoke in an interview with journalists in Ilorin on Tuesday during a public lecture on ‘The role of journalists in ensuring free, fair and credible elections in 2015,’ organised by the Kwara State chapter of the Nigerian League of Veteran Journalists.

Mohammed said, “Politicians are like businessmen who want to sell their wares and you advertise in your own way. Whatever they are saying; whichever way they go, all I know is that Nigerians are more intelligent, and wise and they know what to do and how to do it.

“You can see what happened during the last few elections in some states. Nigerians in those states decided and their decision came to pass.

“Many of those unscrupulous politicians will be rejected as Nigerians are not dullards. Nigerians cannot be toyed with.”

A former Chairman of the Independent Corrupt Practice and other related Offences Commission, Justice Mustapha Akanbi, urged journalists to continue to fight against corruption and for a just society.

The Kwara State Governor, Alhaji Abdulfatah Ahmed, who was represented by his Special Adviser on Communication and Strategy, Alhaji Raheem Adedoyin, said the 2015 campaigns should be issue-based rather than focusing on personalities.

A former Commissioner for Information in Kwara State, Mr. Jide Adebayo, urged journalists to continue to campaign for credible elections in 2015.

Nigeria reaches to Ebola-stricken Sierra Leone with drugs,aid

Nigerian government has offered drugs and supplies worth more than $249,000 to Sierra Leone, a statement by the Ministry of Health said here on Thursday.
This offering was made apart from a $3.5m donation promised by Nigerian President Goodluck Jonathan toward the fight against Ebola scourge in the sub-region, said the statement signed by health ministry’s spokeswoman, Ayo Adesugba.
“Nigeria made the donation at the request of the government of Sierra Leone,” the statement said, noting Nigeria, Africa’s most populous country, had already mobilized and trained over 600 health workers as volunteers to support the containment effort in affected countries within the region under the leadership of the Economic Community Of West African States.
Nigeria was recently declared Ebola-free by the World Health Organization (WHO), having recorded no new cases of the highly- contagious disease after six weeks since Aug. 31.
The government said it was in this light that the West African country was willing to share its experiences and offered support to other countries in terms of building necessary capacity, management of information and actual case management in their efforts to contain the Ebola Virus Disease.
Authorities in Nigeria ascribed its success in containing the disease to responsive governance, driven by appropriate political will, a clear leadership role, and strong multi-sectoral teamwork.
The government said an all-inclusive national response to the Ebola outbreak was crucial to the African nation’s rapid containment of the disease.
Nearly 5,000 people have been killed in the latest outbreak of the Ebola disease, which spreads through body fluids, according to WHO.

Yemen announces new government

Yemen has announced the formation of a new government, less than a week after the country’s main political factions signed a deal.

Key players including the Houthi rebels signed an agreement last Saturday mandating the president and prime minister to form a new technocratic government in an effort to defuse political tensions that have crippled the country.

There were reports on Friday that five women were in the cabinet, to be led by Prime Minister Khaled Bahah.

The Houthis captured the capital in September, capitalising on protests and widespread anger following the government’s announcement of a sharp rise in fuel prices.

Shortly after, the Shia rebels captured a number of key cities and towns, waging battles with opposing tribes and al-Qaeda-linked fighters and helping to making them the powerbrokers in the country.

Under a UN-sponsored accord signed last month, the Houthis were to withdraw from Sanaa and disarm once a neutral prime minister was named.

Burkina Faso’s army seizes power

Burkina Faso’s army seized power on Thursday as it dissolved the parliament and government to form a transitional body, to protest against President Blaise Compaore’s plan to extend his 27-year-rule.
“A transitional body will be put in place in consultation with all parties. A return to the constitutional order is expected in no more than 12 months,” the country’s army chief Nabere Honore Traore told reporters in the capital Ouagadougou.
The military also announced a curfew from 7:00 p.m. on Thursday (1900 GMT) to 6:00 a. m. on Friday (0600 GMT).
Massive demonstrations were witnessed on Thursday after the government urged parliamentarians to amend the constitution, which could enable Compaore to run for a third term in 2015.
Protesters on Thursday morning broke into the country’s parliament. Soldiers ransacked parliament building and set it ablaze, before heading toward the public broadcaster to make a declaration.

Mubi: Military fights back, deploys more fighter jets

Nigeria Defence spokesman, Major General Chris

The military authorities have deployed more fighter aircraft to intensify the action to retake the commercial city of Mubi from Boko Haram insurgents.

It was learnt in Abuja, on Friday, that members of the sect captured Mubi and adjourning villages from Nigerian troops, after carrying out a sustained attack.

Investigations showed the military authorities had also sent heavy reinforcement of troops and hardware to the affected area in the early hours of Friday.

It was further learnt that the Air Force had intensified the use of both fighter jets and helicopter gunships for the ongoing operation.

A military source, who confided in our correspondent, said a sustained heavy gun battle between troops and the insurgents at Maiha Local Government Area, near Mubi, was ongoing as of Friday afternoon.

It was also gathered that the insurgents who overran Vintim, the hometown of the Chief of Defence Staff, Air Chief Marshal Alex Badeh, burnt down a number of structures in the community before fleeing the area.

The properties razed included the residence of the CDS, the community clinic and a civic centre.

Fleeing residents confirmed that fighter jets belonging to the Nigerian Air Force were carrying out heavy bombardments of areas under the control of the sect.

A security source, who confided in our correspondent, said the fighter aircraft of the Nigerian Air Force followed the invading Boko Haram fighters, killing several of them.

The source added that four of the fighters who were too injured to run had been captured and were facing interrogation at a military formation in Adamawa State.

It was stated further that the insurgents did not stay in Vintim after capturing it but decided to run out of the town after burning the structures, following the attacks by the Air Force.

The source also said military authorities were doing everything necessary to reverse the situation in Mubi and other Adamawa communities.

He said “It is true that his (CDS) house in the village was razed. The insurgents also burnt down a clinic he had donated to the community, and a civic centre there.

“However, most of the insurgents who went to Vintim did not survive. They were caught up by the Air Force fighter jets, which followed them and got most of them.

“Four of them, who were too injured to escape, were caught and are being interrogated.

“They are not in Vintim; they left as soon as they carried out the destruction because the Air Force was after them.”

There was also information that there was a surprise attack on Nigerian military positions.

A source said, “The military high command has commenced investigations into the surprise attack on the location of troops in the area.

“You know that since this thing happened, the Air Force has been active. But this time, the people took the battle to their boss, and it seems the people have been provoked.

“They are taking serious risks in this operation and carrying out air strikes not only with jets that fly very fast, but also with helicopter gunships that are not as fast as the jets.

“As we speak, airstrikes are going on in the area, while the issue of surprise attack on troops is being investigated,” the source said

Meanwhile, a source from a strategic security office in the country revealed that Nigerian fighter pilots, as well as ground troops, were relying on arms and ammunition available in the country to prosecute the ongoing campaign.

The source said Western powers had sustained its opposition to Nigeria’s bid to acquire arms and ammunition.

B’Haram brings Mubi under Sharia, amputates 10

Members of the violent Islamic sect, Boko Haram, have instituted the Shara law in Mubi, Adamawa State, captured by the insurgents last week.

The insurgents were also said to have amputated the hands of 10 residents said to have been found guilty of sundry offences, including looting of property of fleeing residents.

Sources in Mubi town said they saw the terrorists parading 10 persons whose hands were said to have been amputated.

The victims were said to been amputated in the presence of residents the insurgents asked to converge to witness the enforcement of Sharia law.

An eye witness account indicated that two imams were dragged out from a mosque and beheaded for allegedly preaching against Boko Haram. The insurgents also advised all Christians in the Mubi Local Government Area to relocate to other areas except they were prepared to be islamised or be killed.

The source further said that the Emir’s palace in Mubi had been converted to the residence of the ‘Amir’ and that the insurgents hoisted their flags to signify that they were in control of the palace.

Our correspondent learnt that the most affected by the development in Mubi were students of the Adamawa State University and the Federal Polytechnic, Mubi. The students were said to have gone through torture before some of them reportedly escaped through the border between Nigeria and Cameroun.

Some of them were said to still be in the bush.

“I must give thanks and praises to God almighty for spearing my life; I saw as people were being slaughtered like goats. I am too happy to see myself alive,” a female student of the Federal Polytechnic, told our correspondent in Yola on Sunday.

The insurgents said their mode of prayer was different from what Muslims in the town were used to and that they were “in Mubi to restore Islamic independence to the people and anybody who does not follow us must be killed.”

“We are not to hurt anyone but to free the people from religious slavery,” a source quoted the insurgents to have said.

Meanwhile, the Deputy Governor of Borno State, Alhaji Zanna Mustapha, has said that the Federal Government needs to adopt more stringent measures against Boko Haram in the North-East.

Mustapha told journalists on Monday at the Government House, Yola, that the state governments of Adamawa, Borno and Yobe had raised the alarm over the future of their states as a result of rising occupation of towns and villages by Boko Haram.