“The game against England shows we still have a lot of work to do before the World Cup’ – Super Eagles Coach, Gernot Rohr

?The game against England shows we still have a lot of work to do before?the World Cup

Last night, Nigeria’s Super Eagles played a friendly match at the Wembley Stadium in London against England and were defeated 2 – 1 ahead of the 2018 FIFA world cup that kick off in Russia on June 14th.

 

After the game, Coach Gernot Rohr said the team still has alot of work to do before the tournament begins in two weeks.

 

In his words, ‘this game shows we still have a lot of work to do to be ready for the World Cup. We have to make the best use of the 2 weeks left before our first game in Russia. It’s time to focus..no distractions’.

Nigerian Islamic extremist, Michael Adebolajo who murdered a British soldier ‘admits his guilt in jail confession and plans to write a letter of apology’

Nigerian Islamic extremist, Michael Adebolajo who murdered a British soldier

Michael Adebolajo, a Nigerian Islamic extremist who murdered British soldier Fusilier Lee Rigley in broad day light, has admitted his guilt in a jail confession and plans to write to Mr. Rigby’s family to apologise for the horrific slaying that took place opposite the Royal Artillery Barracks in Woolwich, London in 2013.

The 31-year-old who is serving life behind bars in high-security HMP Woodhill, outside Milton Keynes is regarded as the most dangerous prisoner in the British penal system.

It was reported that he expressed his remorse to fellow inmates and prison staff over the horrific slaying of the soldier, and also admitted he ‘misinterpreted’ the Koran having cited the Islam’s holy book moments after the attack, which he carried out with accomplice Michael Adebowale, now 27.Nigerian Islamic extremist, Michael Adebolajo who murdered a British soldier

A source told The Sun on Sunday: ‘Adebolajo is widely regarded as one of the most dangerous extremists in the prison system. A month ago he approached a fellow inmate and a member of prison pastoral staff to say he finally regretted the murder and acknowledged he took an innocent life.’

According to other inmates, Adebolajo now wants to apologise to Lee’s family.

But Lee’s mother Lyn Rigby, 51, who battled depression since the death of her son is said to be repulsed by Adebolajo’s change of heart and will never forgive him.

Nigerian Islamic extremist, Michael Adebolajo who murdered a British soldier

She told The Sun on Sunday: ‘To hear his killer say that Lee was innocent and that he regrets killing him is the ultimate kick in the teeth.’

 

 

Six Years After: Remembering the 163 people who died in the 2012 Dana Air Flight 992 in Lagos

Six Years After: Remembering the 163 people who died in the 2012 Dana Air Flight 992 in Lagos

On this day (Sunday, June 3rd) in 2012, Dana Air Flight 992 was a scheduled domestic commercial passenger flight from Abuja to Lagos but the McDonnell Douglas MD-83 aircraft crashed into a furniture works and printing press building in the Iju-Ishaga neighbourhood of Lagos.

 

The crash resulted in the deaths of all 153 people on board and 10 more on the ground making it the deadliest aviation disaster involving a McDonnell Douglas MD-83, as well as the second-deadliest involving an MD-80 series aircraft. It is also the second-deadliest aircraft crash on Nigerian soil, behind the Kano air disaster of 1973.

 

Six Years After: Remembering the 163 people who died in the 2012 Dana Air Flight 992 in Lagos

The fligh was carrying 147 passengers, including 15 foreigners from 9 countries. The foreigners, confirmed by the Nigerian AAIB, were 4 Chinese nationals, 3 Americans, 2 Indians, and one each from Indonesia, Lebanon, Germany, France, Canada and Benin.

 

Some Notable passengers on the flight include:

  • Alhaji Ibrahim Damcida, the Under-Secretary of the Ministry of Industries.

 

  • Dr. Livi Ajuonuma, former broadcaster and NNPC General Manager, Corporate Affairs

 

  • Shehu Saad Usman, Director of Mainstreet Bank

 

  • Aikhomu Ehime, son of former chief of General Staff Augustus Aikhomu

Accoridng to reports, an autopsy was carried on the victims by the former vice chancellor of Lagos State University and pathologist Prof. John Obafunwa, who claimed to have successfully identified all of the dead. However, the Nigerian AAIB claimed that all bodies were not identified and at least three bodies could not be identified by the forensic team.

 

The Captain was Peter Waxtan, a 55-year old American with a total flying experience of 18,116 hours, with 7,466 hours on the MD-83. The Captain was hired by Dana Air on 14 March 2012.

 

According to documents retrieved by the Nigerian AAIB, in 2009, the Captain was suspended by the United States Federal Aviation Administration (FAA) for some misdemeanours related to a heavy landing and fixing of panels that were neither entered in the aircraft logbook nor reported.

 

Six Years After: Remembering the 163 people who died in the 2012 Dana Air Flight 992 in Lagos

The revalidated licence issued to him by NCAA was stamped but not signed by any NCAA official. The AAIB reported there was no documented evidence that the crew performed the mandatory Cockpit Resource Management training.

 

On 13 March 2017, a 210-page final report by Nigeria’s AIB into the crash was released and made public. The investigation identified the following Probable Causal Factors:

1. Engine number 1 lost power seventeen minutes into the flight, and thereafter on final approach, Engine number 2 lost power and failed to respond to throttle movement on demand for increased power to sustain the aircraft in its flight configuration.
2. The inappropriate omission of the use of the Checklist, and the crew’s inability to appreciate the severity of the power-related problem, and their subsequent failure to land at the nearest suitable airfield.

 

3. Lack of situation awareness, inappropriate decision making, and poor airmanship.

Gucci Mane shares cute new photo with wife Keyshia K’aoir days after split rumours

Gucci Mane shares cute new photo with wife Keyshia K

On Thursday, it emerged that rapper Gucci Mane unfollowed his wife Keyshia K’aoir, who he married in a lavish wedding in October 2017.

This sparked speculations that their marriage is in trouble and they may be heading for a divorce, with many claiming the trouble is due to Keyshia’s spending habits.

Well, it looks like the couple have resolved their differences because the rapper took to his page this morning to share a cute photo with his wife as they stepped out in coordinated black and white ensembles in Miami South Beach, Florida.

Gucci Mane shares cute new photo with wife Keyshia K

Gucci captioned the photo: ‘MrDavis Took MrsDavis to MrChow.’

 

Nigerian man gets emotional as he praises his 3 wives

Nigerian man gets emotional as he praises his 3 wives

A Muslim Nigerian man took to Facebook to shower praises on his three wives for the difference they’ve made in his life.

He called each of them by name in the open letter of gratitude and said they’ve all taught him big lessons and made him an inspirational warrior in all aspects of life.

Sharing a photo of them all, he wrote:

JOIN ME IN PRAYER TO THANK MY GOD FEARING WIVES.

Emotionally, i take this day as an opportunity to thank all my 3 wives who have made a difference in my life. Though is not easy to be a real man. But Staying with you taught me big lessons, you made Kabiru Ishaq Sa’id an inspirational warrior in different aspects of life.

It is never too late to thank a Person. You may just make their day and give them a reason to thank you too.

THANK YOU SADIYA (Original 1)
THANK YOU UMMI (Special 1)
THANK YOU HADIZA (Authentic 1)

I really love you with all my heart. And please forgive me for what i have done to you wrongly.

MAY ALMIGHTY ALLAH bless you all, bless your Children and bless your Parents.

RAMADAN KAREEM!!!

Nigerian man gets emotional as he praises his 3 wives

 

 

Twitter user narrates how he was allegedly arrested and extorted by police in Lagos for keeping dreadlocks

 Twitter user narrates how he was allegedly arrested and extorted by police in Lagos for keeping dreadlocks

In the latest case of a young Nigerian suffering injustice at the hands of the police, Twitter user, Tolu says he was arrested, humiliated and extorted because of his hairstyle. It will be recalled that last month, the Lagos state deputy police public relations officer, Iheanachor Ifeanyi Omuta informed the public that it is not a crime to wear a tattoo or a certain hairstyle.

 Twitter user narrates how he was allegedly arrested and extorted by police in Lagos for keeping dreadlocks

Read the rest of Tolu’s Tweets below…

 Twitter user narrates how he was allegedly arrested and extorted by police in Lagos for keeping dreadlocks

 Twitter user narrates how he was allegedly arrested and extorted by police in Lagos for keeping dreadlocks

 Twitter user narrates how he was allegedly arrested and extorted by police in Lagos for keeping dreadlocks

 

Police invite Senate president Bukola Saraki, over Offa Bank robbery

Police invite Senate president Bukola Saraki, over Offa Bank robbery

The Nigeria Police Force has invited Senate President Bukola Saraki, over the Offa Bank Robbery that left over 30 persons dead in April.

Spokesperson of the Nigeria Police Force, Jimoh Moshood, announced the invitation while parading suspects in connection with the robbery attack. A statement realeased by Jimoh reads

”The Senate President, Sen. Bukola Saraki is being invited by the Nigeria Police Force to report to the Force Intelligence Response Team office at Guzape, Abuja to answer to the allegations levelled against him from the confessions of the Five (5) Gang Leaders, namely; Ayoade Akinnibosun, Ibukunle Ogunleye, Adeola Abraham, Salawudeen Azeez, Niyi Ogundiran and some of the other Seventeen (17) suspects arrested for direct involvement and active participation in the Offa Bank Robbery and the gruesome killing of THIRTY THREE (33) innocent persons which includes (some pregnant women and nine (9) Police personnel”.

Recall that on May 16th during plenary, Saraki told his colleagues in the senate that the IG of Police, Ibrahim Idris was plotting to indict him in a murder case.

 

Fake lawyer nabbed at Ojo Magistrate court(photo)

Fake lawyer nabbed at Ojo Magistrate court(photo)

The undercover operatives of  Lagos State Police Command attached to Ojo Police Station,  has arrested one Uche Julian Nwajiakwu for impersonating as a lawyer.

This made it the second time a fake lawyer is being  arrested at Ojo Magistrate Court. The first was the arrest of  one Chris Elisha who was arrested on 6th of February, 2018, after being in illegal  practise for fifteen years. Meanwhile, Uche Julian Nwajiakwu, the latest man to be arrested for illegal law practice had been on the game since 2015.

According to the suspect, he fell in love with law practice when a friend of his commissioned him to act as a lawyer in order to serve his tenant a quit notice. He was handsomely rewarded after the deed and since then, there was no looking  back.

However, luck ran out on Julian Nwajiakwu on 25/05/2018, while he was arguing on a bail application for his client when intelligent lawyers in the court suspected  he was a laid back. The lawyers said his quackery was too obvious to be  ignored.

The police investigation into the case thus far, revealed that the suspect did not study law in any of the Nigerian universities nor anywhere else  in the world. He was charged to Ojo Magistrate Court on the 30/05/2018, for the offence of impersonation.

In view of this incident, the CP Lagos, reiterated his warning to professional bodies to properly scrutinise people professing to be members of their body.  According to the CP, this is  one incident too  many and must be checked. The CP noted that the Command had in the recent months, arrested fake medical doctors and other spurious health workers  including fake journalists.

Read Police statement detailing how arrested suspects linked Saraki, Kwara state governor in Offa bank robbery (photos)

Read Police statement detailing how arrested suspects linked Saraki, Kwara state governor in Offa bank robbery (photos)

Read the statement from the police on how arrested suspects linked Senate President Bukola Saraki and Kwara state governor, Abdulfatah Ahmed, in Offa bank robbery and murder of over 30 persons. Read below

The investigation into the Offa Bank Robbery and gruesome killings of more than THIRTY THREE (33) Innocent persons in Offa, Kwara State on the 5th April, 2018 directed by the Inspector General of Police, IGP Ibrahim K. Idris, NPM, mni, has made significant progress, successes and more revelations have been recorded. The Gang Leaders and some of the principal suspects arrested for their active participation in the robbery and the killing of innocent persons have made confessional statements admitting to the various criminal roles they and their sponsors played in this dastard and heinous crime.

Read Police statement detailing how arrested suspects linked Saraki, Kwara state governor in Offa bank robbery (photos)

2. The Five (5) gang leaders namely; Ayoade Akinnibosun, Ibukunle Ogunleye, Adeola Abraham, Salawudeen Azeez, Niyi Ogundiran and some of the other Seventeen (17) suspects arrested for direct involvement and active participation in the Offa Bank Robbery and the gruesome killing of THIRTY THREE (33) innocent persons which includes (some pregnant women and nine (9) Police personnel) admitted, confessed and volunteered statements that they were political thugs of the Senate President, Federal Republic of Nigeria, Sen. Bukola Saraki and the Executive Governor of Kwara State, Alh. Abdulfatah Ahmed.

3. The arrests of the above mentioned Five (5) Gang Leaders and seventeen (17) others were made possible after the arrest of two principal suspects (Kunle Ogunleye aka Arrow 35yrs and Michael Adikwu an Ex-Convict) whose pictures captured by CCTV in one of the Banks during the Banks robbery were circulated to the media and the public. The two (2) principal suspects confessed to be among the suspects led by the five (5) gang leaders listed in paragraph 2 above to carry out the Offa Banks Robbery, the attack on the Divisional Police Headquarters, Offa and the killings of THIRTY THREE (33) innocent persons on the 5th of April, 2018.

4. During interrogation, the five (5) gang leaders mentioned in paragraph 2 further confessed and volunteered statements that they carried out the Bank Robberies, the attack on the Divisional Police Headquarters in Offa and the killings of THIRTY THREE (33) innocent persons during the robbery of the following six (6) banks (i) First Bank Offa (ii) Guarantee Trust Bank Offa (iii) ECO Bank Offa (iv) Zenith Bank Offa (v) Union Bank Offa (vi) Ibolo Micro Finance Bank Offa and (vii) the Divisional Police Headquarters, Offa on 5th April, 2018.

Read Police statement detailing how arrested suspects linked Saraki, Kwara state governor in Offa bank robbery (photos)

5. Millions of Naira from the Banks and Twenty One (21) AK47 Rifles belonging to the Nigeria Police Force in the Armoury of the Police Divisional Headquarters, Offa were admitted to have been carted away by the Five (5) gang leaders and the other Seventeen (17) principal suspects during the Banks robbery.

6. The Five (5) gang leaders confessed and volunteered statements to the Police investigators, giving a clear account of how they planned and carried out the Banks robbery operation in Offa, the attack on the Police Division in Offa and how they killed the THIRTY THREE (33) innocent persons during the robbery.

7 The Five (5) gang leaders further confessed during investigation that they are political thugs under the name Youth Liberation Movement a.k.a “Good Boys” admitted and confessed to have been sponsored with firearms, money and operational vehicles by the Senate President, Sen. Bukola Saraki and the Governor of Kwara State, Alh. Abdulfatah Ahmed.

8. In the course of discreet investigation into the confessions of these five (5) gang leaders and the other seventeen (17) principal suspects, a Lexus jeep GX-300 (Ash Colour) with a sticker plate number with inscription “SARAKI” “Kwara, State of Harmony” used by the gang leader (Ayoade Akinnibosun ‘M’ 37Yrs) during the bank robbery and the killing of the THIRTY THREE (33) innocent persons was taken to Government House, Ilorin on 16th May, 2018 where the sticker plate number with inscription “SARAKI” “Kwara, State of Harmony” was removed before another plate number (Reg. No. Kwara, KMA 143 RM) registered in the name of Ayoade AKinnibosun the Overall Commander of the Offa Bank Robbery was then attached to the vehicle to cover up the identity of the said vehicle. The exhibit vehicle was subsequently recovered from the premises of the Min. of Environmental and Forestry in Ilorin, Kwara State. While the sticker plate number with inscription “SARAKI” “Kwara, State of Harmony” removed from the vehicle was recovered from one Adeola Omiyale who drove the said Lexus Jeep to Government House, Ilorin immediately after the Bank Robbery.

9. The Personal Assistant (Political) to the Executive Governor of Kwara State, Mr. Alabi Olalekan, who is privy to information that the Police is looking for the lexus Jeep as an exhibit used in the Offa Bank Robbery and the killings of THIRTY THREE (33) innocent persons directed one Adeola Omiyale to relocate the Lexus Jeep to Government House, Ilorin. The PA (Political) is currently in Police custody and has made useful statement assisting the Police in further investigation into the case. A revolver pistol and pump action gun were recovered by the Police Investigation Team from the Personal Assistant (Political) to the Executive Governor of Kwara State, Mr. Alabi Olalekan’s Farm where he directed his brother to hide them after his arrest by the Police.

10. In order to conceal evidence, the Chief of Staff to the Executive Governor of Kwara State, Mr. Yusuf Abdulwahab who has been arrested and taken into Police custody, arranged the removal of the sticker plate number with inscription “SARAKI” “Kwara, State of Harmony” from the exhibit vehicle and also registered the exhibit Lexus Jeep used in the Offa Bank Robbery and the killings of THIRTY THREE (33) innocent persons in the name of Ayoade AKinnibosun, the overall Gang Commander of the Offa Bank Robbery while the Ayoade AKinnibosun was already in Police custody for more than six (6) days before the registration of the vehicle.

President Buhari’s new alcoholic drinks and tobacco excise duty takes effect from tomorrow

President Buhari

The new excise duty for alcoholic beverages and tobacco earlier approved by President Muhammadu Buhari will take effect from Monday, June 4, 2018.
Minister of Finance, Kemi Adeosun, in March announced that the president had granted a grace period of 90 days to manufacturers of the products.
READBuhari approves increase In excise duty for alcoholic beverages and tobacco

Adeosun said the new excise duty rates would spread over a three-year period from 2018 to 2020 in order to moderate the impact on prices of the products.
According to her, the upward review of the excise duty rates for alcoholic beverages and tobacco was to raise the government’s fiscal revenues.
She said that it would also reduce the health hazards associated with tobacco-related diseases and alcohol abuse.
Adeosun said the new duty rate on tobacco was a combination of the existing ad-valorem base rate and specific rate while the ad-valorem rate was replaced with a specific rate for alcoholic beverages.

‘I’m not involved in the Ekiti State shooting at APC rally’ – Ondo State governor, Akeredolu

Governor Akeredolu of Ondo State has reacted to allegations of being behind the shooting which occurred during Friday’s rally for the Ekiti All Progressives Congress (APC) governorship candidate, Kayode Fayemi.

 

In a statement issued in Akure on Saturday by Segun Ajiboye, the Chief Press Secretary to the Governor, he said the attention of the governor was drawn to a “malicious’’ report by the campaign organisation of the governorship candidate of the PDP in Ekiti which alleged that Akeredolu was behind the shooting.

 

It also said: “the statement, signed by one Lere Olayinka on behalf of the Olusola Eleka Campaign Organisation alleged that the thug that fired the shot that injured about four persons in the rally, including an APC chieftain, Hon. Opeyemi Bamidele, was brought to Ekiti State by Governor Akeredolu. We wish to categorically state that though there was shooting in Ado-Ekiti by a thug today, Governor Akeredolu knew nothing about the identity of the suspect.  “It is nothing but a wicked lie from the pit of hell”.

 

”Governor Akeredolu was in Ekiti State to show support for the APC and its candidate, Dr Kayode Fayemi and none of the governor’s security detail fired a single shot throughout the rally in Ekiti.’’

 

The statement further said that “the Ekiti State Police PPRO, Caleb Ikechukwu, has disclosed that the policeman who handled the rifle was hired from Lagos. We hope this will put to rest the dangerous allegation.

 

“You will recall that the same Lere Olayinka had a few days ago alleged that Governor Akeredolu had promised to spend the state’s two months allocation on the Ekiti election. It is, therefore, pertinent to state here that at no gathering did Governor Akeredolu make a remark that he was ready to put two months allocations of Ondo state together to pursue Dr Fayemi’s governorship election in Ekiti State. Once again, we condemn the incident that occurred in Ado Ekiti today and sympathise with the victims and their family. We also sympathise with the APC family in Ekiti and the nation in general. Governor Akeredolu is a man of peace who is known to have devoted unrelenting efforts at sustaining peace in his state. We are, however, relieved with the news of the arrest of the perpetrator by the police.’’

Gernot Rohr releases the final 23-man list of Super Eagles players for Russia 2018 World Cup

Gernot Rohr releases the final 23-man list of?Super Eagles?players for Russia 2018 World Cup

Super Eagles coach, Gernot Rohr, has finally released his 23-man squad for the 2018 FIFA World Cup in Russia.

 

Having already trimmed down the provisional squad to 25 before the England friendly, Rohr was left with the decision of dropping two players from the roster. The duo of Ola Aina and Mikel Agu were the two players dropped from the initial 25 players while Simeon Nwankwo made the final list.

Gernot Rohr releases the final 23-man list of?Super Eagles?players for Russia 2018 World Cup

Also included are the trio of Tyronne Ebuehi, Chidozie Awaziem and Bryan Idowu. Super Eagles will play their last warm-up game on Wednesday against the Czech Republic in Austria before travelling to Russia.

 

Their opening game at the world cup is against Croatia on Saturday, June 16.

G7 ministers criticise US tariffs and warn of trade war

US Treasury Secretary Steve Mnuchin has faced sharp criticism from angry finance ministers of other G7 nations over America’s imposition of new tariffs on steel and aluminium imports.

At a heated meeting in the Canadian resort of Whistler, the EU and Canada threatened to retaliate.

France’s Bruno Le Maire warned a trade war could begin in “a few days”.

But President Trump insisted on Twitter that the US had been “ripped off by other countries for years on trade”.

He says the tariffs will protect US steelmakers, which he says are vital to national security. Mr Trump has also complained about barriers US firms face in Europe and elsewhere.

“Time to get smart!” he added.

Mr Mnuchin denied that the US had abandoned leadership in the global economy and said he had passed on the other countries’ strong feelings to Mr Trump.

There was no joint statement at the end of the meeting, which the BBC’s North America correspondent Chris Buckler says is a clear sign of discord.

Our correspondent says acrimonious debate is likely to continue next weekend when the leaders of the G7 countries – including Mr Trump – meet for a summit in Quebec.

What are the tariffs?

On Thursday, US Commerce Secretary Wilbur Ross said tariffs of 25% on steel and 10% on aluminium had come into effect.

They apply to items such as plated steel, slabs, coil, rolls of aluminium and tubes – raw materials that are used extensively across US manufacturing, construction and the oil industry.

Mr Ross said talks with the EU, Canada and Mexico had not made enough progress to warrant holding off from imposing the tariffs.

Canada, Mexico and the EU together exported $23bn (£17bn) worth of steel and aluminium to the US in 2017 – nearly half of the $48bn of total steel and aluminium imports last year.

What has the response been?

Leaders from the EU, Canada and Mexico have criticised the move.

French President Emmanuel Macron has called Mr Trump to tell him the tariffs were “illegal” but was told by Mr Trump that there was a need to “rebalance trade” with the EU.

The EU has issued a 10-page list of tariffs on US goods ranging from Harley-Davidson motorcycles to bourbon.

Canadian Prime Minister Justin Trudeau has said the US move is “totally unacceptable”.

Canada plans to impose tariffs of up to 25% on about $13bn worth of US exports from 1 July. Goods affected will include some American steel, as well as consumer products such as yoghurt, whiskey and coffee.

Some prominent US Republicans have also voiced opposition.

House Speaker Paul Ryan has said the move “targets America’s allies when we should be working with them to address the unfair trading practices of countries like China”.

North West, 4, receives $750 purse from Alexander Wang ahead of her 5th birthday (Photo)

North West, 4, receives $750 purse from Alexander Wang ahead of her 5th birthday ?(Photo)

North West, will turn 5 on June 15, 2018, and ahead of her special day she has been gifted with a cheetah print bag by Taiwanese-American fashion designer,  Alexander Wang.

Her mother, Kim Kardashian posted a snap of the $750 Marti Micro Leopard Print Shoulder Bag gifted to her first child.  An accompanying note read ‘North, happy birthday! Every girl needs a lil sparkle… Hope you [heart emoji].’

See full photo below.

North West, 4, receives $750 purse from Alexander Wang ahead of her 5th birthday ?(Photo)

PFAs invest 9.25% of N7.94trn pension asset in domestic ordinary shares

Pension-2-1

Pension Fund Administrators (PFAs) invested only N734.515billion or 9.25percent of record N7.943trillion total pension fund Asset under Management (AuM) in domestic ordinary shares, according to the National Bureau of Statistics (NBS) data for the first-quarter (Q1) of 2018.

INVESTOR check shows investment in FGN Bonds is the highest with percentage of 48.61percent of the total pension fund assets and closely followed by Treasury Bills (T-Bills) with 20.89percent weight and domestic ordinary shares with 9.25percent weight while agency bonds has the least with 0.07percent weight. PFAs invested N60.805billion in foreign ordinary shares.

According to the NBS data, PFAs investment in FGN securities is valued at N5.589trillion or 70.37percent of the total pension assets; of which N3.861trillion or 48.61percent is invested in FGN Bonds while N1.659trillion or 20.89percent is invested in Treasury Bills.

PFAs invested N5.796billion or 0.07percent is invested in Agency Bonds such as those of the Nigerian Mortgage Refinance Corporation (NMRC) and Federal Mortgage Bank of Nigeria (FMBN); N55.565billion or 0.70percent of the total pension fund assets under management is invested in Sukuk Bonds; while N8.016billion or 0.10percent of the total pension fund assets is invested in Green Bonds.

In medium-to-long term, a major trigger for equities is the recent multi-fund structure regulation to PFAs, which is expected to increase their equity holding significantly from the current levels.

The Multi-Fund Structure (MFS) regulation by the National Pension Commission (PenCom) replaces the “one size fits all” structure that puts all active contributors into one Retirement Savings Account (RSA) Fund without consideration for age or risk profile of such contributors.

The NBS pension asset and membership data for Q1 show that participants within the age distribution 30-39years have the highest percentage composition closely followed by participants within the age bracket of 40-49years and 50-59years while participants above 65years have the least percentage composition.

Also in Q1’18, Pension Fund Administrators invested N161.426billion or 2.03percent of the total Asset under Management in State Government Securities; while N390.844billion or 4.92percent of total pension AuM is invested in Corporate Debt Securities –details of which are: N384.77billion or 4.84percent in Corporate Bonds and N6.067billion or 0.08percent in Corporate Infrastructure Bonds.

Other assets where PFAs invested are: Supra-National Bonds (N7.36billion or 0.09percent) and Local Money Market Securities (N651.733billion or 8.20percent) which shows Banks (N577.600billion or 7.27percent) and Commercial Papers (N74.133billion or 0.93percent).

Further check on the NBS data showed PFAs invested N19.224billion or 0.24 percent of total AuM in Mutual Funds; Real Estate Properties (N219.242billion or 2.76percent); Private Equity Fund (N27.586billion or 0.35percent); Infrastructure Fund (N7.989billion or 0.10percent); while N73.153billion or 0.92percent are held in Cash and Other Assets.

“It is unlikely that the implementation of the MFS framework will have an immediate impact on the equities market, especially with the 6 months transition period provided for PFAs, to restructure their portfolios in accordance to the framework”, according to United Capital Research analysts in their May 29 note to investors.

While justifying their outlook, the analysts said that “By the provision of the Multi-Fund Structure (MFS) framework –comprising of four Fund types, differing by age and risk profile –for PFAs, set to take off by July 1st, 2018, our analysis showed that 11.4percent and 1.2percent RSA funds, qualified to be classified into Fund I-III and Fund IV, are currently invested in variable income instruments (Equities, Mutual Funds, REITS, and Private Equity Funds) respectively.”

“Based on MFS, PFAs will have a minimum exposure of 10percent for Fund II (default for age 18-49) and 5percent for Fund III (default for age 50+ except retirees) to variable income assets. If this minimum is strictly followed and assuming no request is made for Fund I (strictly by request), our analysis indicates that PFAs current exposure to Fund II and III is already in line with the minimum requirement”, according to United Capital analysts.

The multi-fund structure is a new system of fund management that allows the splitting of the RSA ‘Active’ fund into three different funds; Fund I, Fund II and Fund II. The ‘Retiree’ fund remains and it is called Fund IV.

There is increasing investor’s preference for equities amid declining fixed income yields. Yields on fixed income securities have fallen dramatically this year as the Central Bank of Nigeria (CBN) shows commitment to single-digit inflation.

“The decline in yields on FGN paper since mid-2017 could lead to a change in asset allocation by PFAs. The share of Assets Under Management (AUM) invested in equities has risen, but we are not witnessing a sea-change. The generally average results of listed companies other than tier-one banks militate against such a change,” the Gregory Kronsten-led team at FBNQuest Research had noted.

According to NBS, “The Pension Asset and RSA Membership Data Q1 2018 reflected that 7,975,976 workers are registered under the pension scheme compared to 7,823,911 registered workers in fourth-quarter (Q4) of 2017 while the Pension Fund Asset under Management as at Q1 2018 stood at N7.943trillion as against N7.515trillion in Q4 2017.”

Uber driver arrested for fatally shooting a passenger to death in Denver (Photos)

Uber driver arrested for fatally shooting a passenger to death in Denver?(Photos)

An Uber driver was arrested on Friday morning after his passenger was shot and killed in Denver interstate.

29-year-old Michael Andre Hancock, identified as the Uber driver allegedly shot and killed his passenger after a dispute inside the car they were driving.

The shooting occurred near University Boulevard about 2:45 a.m, according to police.

According to a probable cause statement released by police, Denver 911 received a call about 2:45 a.m. from a man on an Interstate 25 on-ramp who said: “There was a guy, an Uber driver, who said his ride tried to attack him and the driver shot him.”

Uber driver arrested for fatally shooting a passenger to death in Denver?(Photos)

Police arrived and found a male lying on the front seat floorboard of a Nissan sedan with gunshot wounds, the statement said. He was taken to a hospital and pronounced dead, said Sonny Jackson of the Denver police.

“There appears to be a conflict between an Uber driver and his passenger. The passenger did suffer gunshot wound or wounds and was transported to the hospital where subsequently he was pronounced dead a short time later,” Denver Police Department public information officer Sonny Jackson said.

“We do know [the driver] worked for Uber,” Jackson said. “We’re going to determine if he was on a ride, what the relationship was between what appears to be a passenger and the driver, but I don’t think any relationship prior to this particular run.”

According to him, Hancock was handcuffed and police found a Ruger SR 40 pistol in his waistband. Soon after he began having trouble breathing and was transported to Denver Health Medical Center, where he was treated and released.

He is being held on 1st Degree Murder.

Uber driver arrested for fatally shooting a passenger to death in Denver?(Photos)

Reacting to the incident, Uber issued a statement, which reads: “We are deeply troubled by the events in Denver today. Our thoughts are with the families of those involved. The driver’s access to the app has been removed, and we will continue working closely with police.”

Andrew Hasbun, an Uber spokesman, confirmed Hancock as one of the employees saying: ‘ Hancock had been driving nearly three years for the ride-sharing company. The incident appears to be associated with an on-app trip, he said.

According to Uber on their website, they prohibit riders and drivers from carrying firearms of any kind in a vehicle while using the app.

Photo: Fashola sent to prison for defiling 13-year old girl

Photo: Fashola sent to prison for defiling 13-year old girl

An Igbosere Magistrate court has ordered 57-year old Mr Idowu Fashola pictured above to be remanded at the Ikoyi Prison, Lagos for allegedly defiling his wife’s sister’s 13-year old daughter.

The case was first reported at the Lagos State Domestic and Sexual Violence Response Team, DSVRT and was afetrwards transfered to the divisional police in Adeniji Adele, Lagos  Island.

Investigations by the police showed that Fashola had sex with the underaged girl on several occasions after giving her tea prepared with sleeping substances to drink.

Police Counsel, Jimoh Joseph informed the court that the accused committed the alleged crime in 2017 at 39, Animashaun Street, Ijeshatedo, Surulere, Lagos where the accused resides with the victim. Joseph told the court that the parents of the victim reported to the officials of the DSVRT that they entrusted the victim in the care of the their sister who is the wife of the accused when she was three years old and that their daughter told them that she could no longer stay at the home any longer.

When the 13 year old girl was asked why she doesn’t want to go back to her aunt’s house, she allegedly told them that the suspect had been having sex with her for long.

Joseph said that the complainant told the DSVRT that their daughter further narrated that anytime the man wanted to have sex with her, he would prepare tea for her and that once she drank the tea, she would sleep off and later find herself naked the following morning with sperm coming out from her private parts.

Joseph said that following the victim’s narration, the DSVRT took the victim to the hospital for medical examination where doctors confirmed that she had been sexually molested on several occasions leading to the accused’s arrest.

He said that during Investigation, the accused allegedly confessed to the crime that the devil pushed him to commit the offence but when the charges were read to him in court, Fashola pleaded not guilty to the crime.

The court granted him bail in the sum of N250,000 with two dirties in like sum.  The case was adjourned till June 11th for mention and ordered that the defendant be kept in prison custody till he fulfilled the bail conditions.

‘Six out of every 10 young people are cultists in Lagos State’ – Police commissioner, Edgal Imohimi

Edgal Imohimi, the Commissioner of Police in Lagos State on Friday said six out of ten young people are cultists in Lagos.

 

Edgal who expressed sadness over the rising cases of cultism among youths in Lagos, called for a state of emergency on cultism. Imohimi spoke at a town hall meeting with some residents of Surulere area of the state.

 

“I instructed one of my officers to carry out a research on the reason for increase in cultism among the young ones, and it was revealed that it gives them a kind of advantage over their peers. For some, they joined to avoid being intimidated. Whatever reason it is, the blame is on us parents for not caring enough about our children,” he said.