NNPC Is Now In Excess Of 4.4 Trillion Liabilities Over Assets – Report |The Source

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October 19, 2020

By Uche Mbah

The Nigerian National Petroleum Corporation, as a group, is currently at a liability of N 4.4trillion over the assets of the oil firm in 2019. This is according to the just released audited financial statements of the firm. The oil firm’s liabilities as a corporation, however, exceeded its assets by N1.1tn.

NNPC has always been regarded as the cashcow of the country, and successive government has leveraged on the oil revenue as the main income source for the country.

In the report, the auditors expressed doubts that the NNPC will continue to exist, bearing in mind the level of liability of the firm. The reason for this they explained in the detailed report.

The auditors are PriceWaterhouseCoopers, SIAO Partners and Muhtari Dangana and Co, among others.

“We draw attention to note 42 of the consolidated and separate financial statements, which indicate that the group recorded a net loss of N1.8bn (corporation: net loss of N107.8bn) during the year ended 31, December 2019”, the auditors said.

“As at that date, the group’s current liabilities exceeded its current assets by N4.4tn (corporation: N1.1tn).”

Recent reports indicate that the Oil refinaries are in moribund situation, and that the cost of overhead far exceeded the production, which is nill.

Nigeria sells crude and imports finshed products, and critics are in agreement that there is at best lack of transparency in the running of the corporation.

#EndSARS Campaign: Canadian Minister Throws Weight Behind Protesters, Says His Cousin Died From Police Brutality |The Source

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Akinwale Kasali

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October 19, 2020

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By Akinwale Kasali

The #EndSARS campaign got a big boost, Sunday. Canadian Minister of Justice and Solicitor General, Kaycee Madu, showed solidarity and support for the Protesters who are protesting against Police brutality, extra judicial killings and anomalies meted on Nigerians.

The Nigerian born Canadian Member of the Legislative Assembly for Edmonton-South West and Canada’s Minister of Justice and Solicitor General, threw his weight behind the #EndSARS protest in Nigeria, alleging that Operatives of the Nigeria Police killed his cousin, Nwabueze Korie, in April 2013 extra-judicially.

Madu tweeted saying: “I support the people of Nigeria as they protest to end police brutality and extrajudicial killings.”

The Minister who attached a petition he sent to the National Assembly for the probe of the murder, and a photograph of his cousin soaked in blood in his car, tweeted:

“I support the people of Nigeria as they protest to end police brutality and extrajudicial killings. My own cousin Chrisantus Nwabueze Korie was murdered by Nigerian police in April 2013

“Despite my best efforts, the police would not investigate his murder and did everything to obstruct. I also helped to petition a committee of Nigeria’s National Assembly to probe the killing and report back to the House within a timely manner.

“Fundamental human rights like peace, security and freedom from police brutality are universal. The Nigerian government has an obligation to protect its citizens and deliver substantive police reform.

“Changing the name of SARS and reconstituting it without significant reform won’t be sufficient to satisfy the cry of the Nigerian people for justice.

“Edmund Burke wrote that, ‘the only thing necessary for the triumph of evil is for good men to do nothing.’ I encourage all Nigerians to stand up and be heard.”

Breaking: Soldiers, Police Take Over Abuja; Clear Protesters |The Source

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The Source

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October 19, 2020

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By Gideon Njoku

The Federal Government may have started an implementation of its threat to use a show of force to break the nationwide protests which have lasted for eleven days, as at Monday.

Thousands of Nigerian youths had taken to the streets to protest atrocious activities of the now defunct SARS, and in the process, shut down cities including Abuja and Lagos. Economic activities grounded.

The protesting youths who started by asking for the scrapping of SARS, with a hashtag #EndSARS, have since expanded their requests even after the FG, through the Inspector General of Police, Mohammed Adamu, dissolved SARS, and in its place, set-up SWAT. The protesting youths have since rejected SWAT, dismissing it as “an old wine in.a new bottle.”

On Sunday, because of the violence which has suddenly accompanied the once peaceful exercise in some states, notably Edo, Lagos, Kwara, and Osun State, where the Governor, Gboyega Oyetola, was physically attacked by the protesters, the Minister for Information, Lai Mohammed, had threatened that the FG will not fold its hands and allow the reign of anarchy.

On Saturday, the Army announced that its annual exercise, where it shows off its force, code-named Operation Crocodile Smile would take off on Monday, October 20, and end on December 30.

Many thought the exercise was an indirect way to break up the protests, but the army, in a statement on Sunday, refuted it, saying it was only their annual exercise aimed at flushing out criminals.

However, in Abuja, Monday morning, reports confirm that the Army and Police have taken over the roads.

At the Central Bank on Nigeria, CBN, where the Protesters had camped out Sunday evening, there was no trace of any of them Monday morning. In their place were Army and Police personnel. The story was the same along the Airport road, which the protesters had blocked, and caused many. Including, allegedly, the FCT Minister, to miss their flights.

The soldiers, so deployed, are searching vehicles, to rule out any mischief.

Free movement has been restored, and street sweepers are back to their beat.

However, Monday morning in Lagos, the situation remained the same with protesters blocking roads.

Hackers: CBN Debunks Claims Of System Breach |The Source

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Bayo Bernard

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October 19, 2020

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By Fola Jmaes

The Central Bank Of Nigeria has debunked reports that its website has been hacked by a revolutionary group of hackers known as “Anonymous”.

There were reports, last week, that the websites of some federal government agencies such as the INEC, NBC and CBN had been hacked by the angry hackers, working in cahoots with the EndSARS protesters.

But According to a public statement signed by Assistant Director, Corporate Communications, Osita Nwansiobi, the Central Bank of Nigeria says its website www.cbn.gov.ng has not been hacked, urging the general public to disregard the report.

“Contrary to claims in the social media, alleging that the webiste of the Central Bank of Nigeria, CBN has been breached by malicious, w persons, we wish to state categorically that our website is secure,” the CBN said

#EndSARS: Popular Rapper, Phyno, Cries Out, Says Gov. Ugwuanyi After His Life Over Protest |The Source

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Akinwale Kasali

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October 19, 2020

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By Akinwale Kasali

The nationwide #EndSARS campaign against Police brutalisation and extra judicial killings has taken a different twist in Enugu State.

Popular Indigenous Rapper, Phyno, has asked Nigerians to bear him witness of the threats to his life, and lives of protesters by the Governor Ifeanyi Ugwuanyi led Enugu State government.

Phyno alleged that he and other protesters were under attack by some hoodlums, who stormed where the protest at Enugu state government house was going on.

The Nigerian Rapper took to his twitter page and said that the Enugu state government should be held responsible should anything befalls them.

According to him, Governor Ugwuanyi tried to disrupt the protest with sponsored thugs who tried to attack them.

The Rapper tweeted: “Enugu! Today our lives were threatened and we are making it clear that if ANYTHING happens to any single one of us or any protestors, let it be known that it was done by the ENUGU STATE GOVERNMENT!

“Today, our peaceful protest in Enugu from Ogbete Market to the Enugu State Government House was going well until we reached the government house. Along the way we noticed a group of thugs joined the protests

“The governor came out but refused to speak up and address the protestors, instead he addressed the thugs. The thugs tried to fight us but we maintained peace because we recognized their plan.

“We made sure the youth remained calm yet the governor refused to answer our questions! Instead he walked out on us, unapologetically, with the thugs following him. We made it clear that we knew the people he was pretending to address were paid thugs.

“As we have been saying: The movement won’t stop! We come in peace as always”, Phyno tweeted.

Kalu’s Bombshell: Awolowo Did Not Trust Babangida |The Source

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Bayo Bernard

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October 19, 2020

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By Tosin Olatokunbo

Senator Orji Uzor Kalu has revealed reason the late sage and former premier of the defunct Western Region, Chief Obafemi Awolowo refused to support the transition to civil rule programme set up by the General Ibrahim Babangida regime.

The former governor of Abia state and Senate Chief Whip said in his recent book, ‘My Life’ that the late Yoruba leader did not trust the Evil Genius’, as Babangida is widely known, resolve to abdicate power.

Awolowo died in 1987 and some alluded his death to the crisis of confidence between him and the former head of state at the time.

The autobiography was released few days after the death of Awolowo’s eldest daughter, Mrs Tola Oyediran, last week.

Obafemi Awolowo — Awolowo: Did Not Trust Babangida

Kalu said he decided to visit the late politician in his home in Ibadan after Awolowo rejected the plea of the Babangida regime to be part of the transition programme, to find out why he took that decision.

Awolowo “told me he did not trust the military and that nothing in his crystal ball suggested that the military was sincere about bringing the country back to civil governance. I learnt from him that there existed two types of the military which he described as professional and mercenary military,” the former governor said.

Part of the book reads: “He told me the military government was of the latter type (and) assured me that he had not seen anything in the IBB regime to assure him of their messianic mission.”

After General Babangida took power in August 1985 from General Muhammadu Buhari, he released all political detainees, mostly followers of Chief Awolowo from the now defunct Unity Party of Nigeria, UPN, an action many said, the military leader took to pacify the politician and other south west leaders.

Babangida later promised to relinquish power to civilians in 1990 and handover to a civilian administration. He failed on that promise and was later forced to abdicate power by General Sanni Abacha in 1993.

#EndSARS Protests: Crack As Arrowhead Quits, Alleges Mischief In Agenda |The Source

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Adesina Soyooye

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October 19, 2020

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By Adesina Soyooye

A crack has emerged in the #EndSARS Protests which have gripped the country in the last eleven days.

Its Leader, Segun Awosanya, has quit, alleging a change in the primary agenda of the protest. He says the protest has degenerated to mischief.

Awosanya, also known as ‘Sega’, said the protest has been hijacked for other purposes, alleging foreign funding, revealing that the Arrowheads of the protest are abroad.

Incidentally, the protesters insist they have no leader, but Sega mainstreamed, in 2017, Police brutalities, and has been in the forefront of the current protest.

He tweeted: “All efforts to talk sense into the arrowheads whi are mostly abroad, and the few in their high estate have proven abortive. I believe everyone is matured enough to face the consequences of their actions.”

Awosanya’s revelation of the Arrowhead of Protesters living abroad, is the first confirmation by an insider that the Protest may be deeper and more organized than thought. This has, also, sparked fears of possible foreign support, and could become a big worry for the powers-that-be.

In a follow-up interview where he criticised the turn the protest has taken, Awosanya said:

“Staging coordinated attacks on prominent reform advocates, and then using a credible advocacy’s campaign to raise funds through an unregistered NGO, threatening the integrity of our nation and gunning for youth insurrection in the name of #EndSARS. Is this even sane?”

From requesting for an end to SARS over the killings and humiliation of youths, in particular, the requests have become hydra-headed, and the protesters have rejected all appeals to leave the streets, including an apology by Vice President Yemi Osinbajo for the delay in looking into the atrocities of the now defunct SARS.

Former President Jonathan greets Gowon at 86 |The Source

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The Source

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October 19, 2020

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Former President, Dr. Goodluck Ebele Jonathan has felicitated with Ex-Head of State Gen. Yakubu Gowon on the occasion of his 86th birthday, describing him as a statesman who has contributed so much to Nigeria’s progress and unity.

Dr. Jonathan who stated this in a goodwill message to Gowon also prayed for God to continue to grant the former Head of State peace strength and sound health.

In the goodwill message he personally signed, the former President said: “It is with great joy that I join your family, friends and well-wishers to celebrate with you on the occasion of your 86th birthday.

“You are a statesman and a Nigerian hero who has continued to contribute to our nation’s progress and unity, even after many years of retirement from service.

“Your relentless crusade for a more peaceful and prosperous Nigeria has continued to inspire hope and patriotism in our people. Many Nigerians see you as a role model to present and future generations of leaders, because of your modesty and principled stand on issues of morality, equity, and accountability.

“My family and I pray God continues to uphold you in peace, strength and sound health. Congratulations, Your Excellency.”

#EndSARS: IPOB, YOV Express Shock Over Deployment Of Armed Forces |The Source

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The Source

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October 18, 2020

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By Gideon Njoku

The Indigenous Peoples of Biafra, IPOB, and the Yoruba One Voice, YOV, have expressed deep shock over the deployment of the Army for what the Army Leadership say is its “Annual Operation Crocodile Smile Exercise.”

The exercise, the Army always say, is to flush out criminals, in a show of force. It was such exercise, for the South-East, code-named Operation Python Dance, that forced IPOB Leader, Nnamdi Kalu, into “exile”, killed many youths and, ultimately, was instrumental to the death of his parents. Both their Royal Highnesses, Eze and Ugoeze Kanu, were buried same day, after they died, in exile, outside their Royal Palace.

Their son, Nnamdi Kanu was absent at their funeral.

It, also, contributed to what most people saw, and still see, as the illegal proscription of IPOB by the Federal Government.

In this year’s exercise, the Army has added Cyber Crime to what its personnel would look out for.

However, many people say the beginning of Operation Crocodile Smile at this time is untidy, considering that Nigerian Youths are on the streets protesting the brutalities, humiliation and extortion meted out on Nigerians, especially, the youths, by the now defunct Special Anti-Armed Robbery Squad, SARS.

The youths, flaunting a hashtag #EndSARS, have been protesting for 10 days, and even though the FG has bowed to them and dissolved SARS, replacing it with SWAT, the Youths are not impressed. Aside from rejecting SWAT, they insist it is SARS in a new bottle, and they are asking for more.

The protest is gradually becoming violent, with deaths and destruction, as well as hinging towards a revolution, with huge support.

Concerned about the shape the hitherto peaceful protest is taking, with thousands of youths grounding states, and making more demands, the FG has warned it may be pushed to forcefully break it.

It is in that line that many think that Operation Crocodile Smile is an indirect way of using force against the protesting youths. They warn of the dangers in doing that.

Reacting to the Exercise in a joint statement signed by Christy Ekama for IPOB, and Zacheos Somorin for YOV, the groups say the Operation Crocodile Smile is aimed at the protesters, and asked the Army to cancel the exercise. Expressing shock that such an exercise would be introduced now, it called on the International Community and the UN, to keep an eye on Nigeria, saying President Muhammadu Buhari would be held responsible for any loss of life during the exercise.

The joint statement by both groups reads:

“We read with shock and dismay the plan by the Federal Government to deploy the Armed Forces under the guise of “Operation Crocodile Smile” with the sole aim to quell the popular #EndSARS protests across the country.

“The protests are a clear testament to failure of leadership. We fully endorse the #EndSARS protests. We commend Nigerian youths for again rising to the occasion to redirect the drifting ship of state.

“The Federal Government must immediately rescind its decision to deploy the Armed Forces to truncate legitimate protests by Nigerians. This is contrary to international law.

“The Federal Government must not add to the gruesome bloodletting by the discredited SARS operatives through the ill-advised deployment of the Armed Forces.

“We will hold the Buhari Administration and its officials responsible for any killings occasioned by the deployment of the Armed Forces to quell legitimate civil protests.

“We call on the United Nations and the international community to take particular interest in the #EndSARS protests and the planned deployment of the Armed Forces, and to hold Nigerian officials to account for any infringement of civil rights.

“The Armed Forces must be reminded that their loyalty is to the Nigerian state. The era of regime protection is gone forever.

“We commend Nigerian youths for their courage and sacrifices in the face of police brutality, joblessness, insecurity, extra-judicial killings and hopelessness.

“We stand in solidarity with you in the struggle for a better future.

Billed to start on Tuesday, the exercise would end on December 30, 2020.

Criticism Trails Sport Minister’s Neglect On Grassroot Sports Development, As Ramond FC Boss Lambast Minister |The Source

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Akinwale Kasali

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October 18, 2020

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By Akinwale Kasali

The National Sports Festival that is usually used to test and discover talents and future sportsmen and women for the nation from the grassroots is gradually becoming history.

In the late 1970s and 1980s, this competition was always an avenue for scouting of athletes for the nation, in which Sports men and women like Mary Onyali, Sunday Bada, Adokiye Amiesimaka, Stephen Keshi, Christian Chukwu and the likes were discovered, but, years down the line, the nation is gradually allowing this legacy go into extinction.

This is however having a toll on grassroot sports in the nation.

Chairman and Chief Executive Officer of Ramond International Football Club and Academy, Oluwaremilekun Oluwatosin Adebanjo, has faulted and criticised the Minster of Sport and Youth Development, Dare Esan, for neglecting Grassroot Sports Development, which has over the years been the scouting scene for the nation in the sporting circle.

Adebanjo said that different Ministers have been coming on board with different agenda and policies not minding what the agenda of their predecessors was. Instead of continuing the agenda to achieving the same goal, they neglect that by coming up with what he termed ‘Elephant Projects’ that wouldn’t come to reality till they leave the office.

He stressed that grassroot sports Development should be given more focus and attention at all times for the nation sports to move forward.

“As a Minister of Sport, he ought to know all the Football Academies registered in Nigeria and proper monitoring should be done as regards that, knowing their growths and how they could help in developing the nation. Not only football, but all sports.

“If something like this is put in place, all the corrupt coaches in the national team, most especially Age Grade national team coaches who usually collect bribe and inducement by selecting players that rub their palms would be stopped.

“By so doing, the Minister already have a monitoring team that is familiar with the Clubs and this will help in choosing players on merit and abilities not through bribes”.

He also stressed that building of sports centers for grassroot sports Development is necessary and proper maintenance of this will help is developing sports and scouting of talents would be easier.

Adebanjo added that the Sport Minister needs to be more proactive if he wants to succeed in office, but must first and foremost make sure that grassroot sports Development is looked into and giving more attention because they are the future of the nation’s sport, who will hoist the nation’s flag in global competition and championships.