PRESIDENT BUHARI TO NIGERIAN UNIVERSITIES: YOU’VE FAILED THE COUNTRY

President Muhammadu Buhari has taken a swipe at the country’s universities, berating them for failure to develop “ground-breaking researches” in various fields of human endeavour.

Reviewing the Nigeria’s tertiary education development since independence in 1960, the President regretted that, “it is not heart-warming that in our over 58 years of independence, Nigerian universities are slow in discoveries and inventions.”

Buhari, speaking on Saturday in a message he sent at the fourth convocation ceremony of the Federal University (FUDMA), Dutsinma, in his home state of Katsina, challenged, “all universities to come out of their shells to conduct researches that will attract industries to patronise the universities in order to enhance and improve their capacities to produce and diversify their products.”

BREAKING: SENATOR AHMED LAWAL ELECTED SENATE PRESIDENT OF 9TH SENATE

Sen. Ahmed Lawan

Sen. Ahmed Lawan have just been elected senate president of the 9th Senate. He came out victorious after keenly contested election conducted by the Clark of the national assembly. The election was between Sen Lawan and his colleague, Sen Ali Ndume. 

Senator Lawal polled a total of 79 votes to defeat his rival, senator Ndume, who polled a distant 28 votes. 
Senator Lawan just took his oath of office as Senate president of the 9th Senate. 
Details shortly....

RIVERS PENSIONERS SAY THANK YOU TO GOV. WIKE

Pensioners who retired from the Rivers State Civil service, yesterday, held a street procession in honour of the state Government and the Governor, His Excellency E.N. Wike for signing the new pension bill into law without delay.

According to some of the pensioners, "there is a brighter ray of hope that the backlog of unpaid pension would be cleared soon by the Rivers State Government.

The pensioners finally urged the Rivers State Government not to delay any farther in the payment of pension as a lot have died waiting for their pension. 

FINALLY LOCAL GOVTS GETS DIRECT FUNDING AS GUIDELINES ON LG FUNDS TAKES OFF, WORKERS APPLAUDE FG

After the failure of state governors to stop the take-off of the guidelines issued by the Nigeria Financial Intelligence Unit on the operation of local government funds, the guideline has finally taken off to the admiration of local government workers across the country.

A Federal High Court sitting in Uyo, the Akwa Ibom state capital had rejected an application brought before it by the Akwa Ibom state government seeking to stop the commencement of the guideline which many have seen as a way of President Muhammadu Buhari bringing to bear local government autonomy in the country after state governors frustrated the passage of the local government autonomy bill by the National Assembly.

The local government workers under the auspices of the Nigeria Union of Local Government Employees (NULGE) and the Senior Staff Association of Statutory Corporations and Government Owned Companies (SSASCGOC); are full of praises over the smooth take-off of the Nigerian Financial Intelligence Unit (NFIU) in the country.

The two unions commended the Federal Government and the financial institutions who have adhered strictly to the guidelines of the NFIU on Joint State-Local Government Account and local government funds.

President of NULGE, Comrade Ibrahim Khaleel, told journalists in Abuja that the smooth take-off of the guidelines and the way the banks have cooperated for its smooth take off was encouraging despite stiff opposition from the governors who were only bent on their selfish desires to mismanage funds meant for the local governments.

Khaleel said “the Federal Government, especially President Muhammadu Buhari should be commended for standing on the side of the people, rule of laws and the development of the country, by insisting on NFIU guidelines. Also, the Financial institutions must be commended for strict adherence to the rules, while we praise the Unit itself for leading the way in doing a very good job.”

The Guidelines issued by the agency commenced June 1, 2019 after the governors failed to secure a court order stopping its implementation.

The agency had on May 6, 2019, issued the guideline to reduce the vulnerabilities created by cash withdrawals from local government funds throughout the country and restored the full mandate of the operations of State/Local Government Joint Accounts to be used solely for the distribution of funds directly to the accounts of the local governments.

Banks were requested to ensure the full implementation of the guidelines with effect from June 1, 2019.

Comrade Khaleel said the NFIU initiative will halt the looting of local government funds and bring about development that have been lacking under the previous system, to the local government.

“Effective regulation of arbitrary withdrawals of local government funds by state governments from the joint local government/state joint accounts by the Nigeria Financial Intelligence Unit (NFIU), as we have seen with the take off now, would reduce looting of council finances,” he said.

The NULGE President described guideline as a giant step towards granting financial autonomy to local governments, saying he would do everything to see that his earlier promise to work with the relevant agencies of the Federal Government to ensure the successful implementation of the guidelines; is achieved.

“To encourage the Federal Government, President Buhari, the banks and other financial institutions and the NFIU itself, the union will train its members across the length and breadth of the country to keep eagle eyes on the operations of the funds going to local government councils henceforth. I am assuring you, we will ensure that flagrant abuse of the system and the funds is stopped,” Khaleel said.

Similarly, SSASCGOC General Secretary, Comrade Ayo Olorunfemi, applauded the agency for the initiative, adding that state governors have over the years frustrated development at the grassroots by refusing to allow financial autonomy for local government councils.

He commended President Buhari, for sanctioning the guidelines; which has renewed the faith of Nigerians and the Labour movement in the anti-corruption fight of the present government.

MINIMUM WAGE NEGOTIATION COMMITTEE TO HOLD INAUGURAL MEETING

Winifred Oyo-Ita, HOCSF

The committee set up by the Federal Government to negotiate the consequential adjustment arising from the new minimum wage will on Thursday meet for the first time, three weeks after its inauguration and less than a week before its job is scheduled to be completed.

The committee was inaugurated by the former Secretary to the Government of the Federation, Boss Mustapha, on May 14, 2019 with the Head of the Civil Service of the Federation, Winifred Oyo-Ita, appointed as chairman.

Other members of the committee are ministers of ministries relevant to the negotiation. Mustapha said the committee would work for four weeks with the inaugural meeting scheduled to hold on May 20, 2019 but the meeting was never held. All the ministers appointed to be part of the committee had left their positions after the expiration of their term as ministers in the last administration.

Organised labour had accused government of deliberately using inauguration to delay the negotiation, expressing the fear that government could begin to look for a way of reducing the amount using complex financial technicalities.

Secretary of the Joint National Public Service Negotiating Council, Alade Lawal, told our correspondent said it was not necessary to wait for new ministers to be appointed before negotiation would commence. According to him, permanent secretaries in the ministries were competent to hold forth for government.

On Monday, a member of the committee who spoke on condition of anonymity because he was not asked to speak on behalf of the negotiation team said a date had finally been fixed, adding that permanent secretaries would represent ministers at the inaugural meeting.

He said, “Finally, a date for the inaugural meeting has been fixed for Thursday, June 6, 2019 at the Office of the Secretary to the Government of the Federation. Permanent Secretaries from various ministries will act in place of the ministers that were appointed to be on the board. That is governance. That is the way a government should run state business.

“Government must not allow a vacuum to delay state matters because there is always a provision in the constitution for someone to act on behalf of government. During the tripartite committee meetings on minimum wage, most of the time, the ministers were represented by the permanent secretaries.

ANDY RUIZ KNOCKS OUT ANTHONY JOSHUA, TAKES THREE WORLD TITLES

(Photo by TIMOTHY A. CLARY / AFP)

USA's Andy Ruiz (L) knocks down England's Anthony Joshua (R) in the 7th round to win by TKO during their 12-round IBF, WBA, WBO & IBO World Heavyweight Championship fight at Madison Square Garden in New York on June 1, 2019.

Anthony Joshua’s bid to make a splash in his US debut ended in misery for the three belt heavyweight world champion with a stunning loss to underdog Andy Ruiz at Madison Square Garden on Saturday.

Ruiz recorded a monster upset, by knocking down Britain’s Joshua four times to take the World Boxing Association, International Boxing Federation and World Boxing Organization titles.

The 29-year-old Ruiz came into the fight as a massive 32-1 underdog. But he won it by TKO in the middle of the seventh when the referee stopped it at 1:26 of the round after the fourth knockdown.

Ruiz, sent to the canvas once himself, knocked Joshua down twice in the third round and twice more in the seventh.

“I still can’t believe it. I am still pinching myself to see if this is real,” Ruiz said.

Joshua (22-1, 21 KOs) had a massive height and reach advantage as he weighed in at a chiselled 247 pounds (112.4 kilos) alongside the portly Ruiz, who beefed up to 268 pounds compared to 250 for his most recent fight.

Ruiz, who has won four fights in a row, looked fearless and poised while Joshua — who delivered 21 knockouts in his 22 victories — never seemed to recover from the first knockdown early in the third.

“Riuz won fair and square but I know Anthony Joshua’s work ethic. Great fighters come back and improve,” said Joshua’s promoter Eddie Hearn.

Ruiz (33-1, 22 KOs) has been underestimated because of his physique, but he knew what was at stake and how fortunate he was to get a second chance at a world title.

He was a late replacement for Jarrell Miller, who withdrew from the bout with Joshua after failing three drug tests in April.

“Everything is possible man. Look at me, I just made history,” Ruiz said.

(Photo by TIMOTHY A. CLARY / AFP)

England’s Anthony Joshua (L) kneels after being knocked down by USA’s Andy Ruiz (R) in the 7th round to win by TKO during their 12-round IBF, WBA, WBO & IBO World Heavyweight Championship fight at Madison Square Garden in New York on June 1, 2019.

Joshua was knocked down for the first time in the third when Ruiz hit him with a left hook to the temple. Realizing he had the champ in trouble, Ruiz then charged forward and got the second knockdown by connecting on a straight right.

Joshua got up at the count of eight but it was late in the round and he was saved by the bell.

“The speed got him,” said Ruiz.

Ruiz was the first to go to the mat when he got hit by a left hook from Joshua earlier in the third.

Joshua got up after the third knockdown and fourth knockdowns in the seventh but he spat out his mouthguard and the referee waived it off while he leaned on the ropes.

Joshua needed medical attention after the bout and did not attend the post fight news conference.

Joshua, who won a gold medal at the 2012 Olympics, was coming off a nine-month layoff since knocking out Alexander Povetkin in September.

Ruiz’s ambush win is being hailed by some as one of the major upsets in heavyweight history, ranking with 42-1 underdog Buster Douglas knocking out Mike Tyson in 1990 and Leon Spinks’ 15-round split decision over Muhammad Ali in 1978.

“We did an upset, just exactly what I have been saying from all the people that doubted me, I just proved them wrong,” Ruiz said.

(Photo by TIMOTHY A. CLARY / AFP)

USA’s Andy Ruiz (off frame) knocks down England’s Anthony Joshua during their 12-round IBF, WBA, WBO & IBO World Heavyweight Championship fight at Madison Square Garden in New York on June 1, 2019.

Ruiz, who was born in San Diego and carries a US passport, considers himself Mexican and is now the first heavyweight champion of Mexican descent.

“I think Mexico has a champ in every weight and now we have a heavyweight champion. I am so happy,” said Ruiz.

The loss will be devastating for the career of Joshua who was looking past Ruiz for a superfight unification showdown with WBC champion Deontay Wilder.

Together with Briton Tyson Fury they are trying to revive the sport’s prestige division but the inability to get them together in the ring had left a sour taste in the mouth of boxing fans.

One of the first to pile on Joshua was Wilder who tweeted, “He wasn’t a true champion. His whole career was consistent of lies, contradiction and gifts …. now we know who was running from who!!!!”

Fury was less critical, tweeting “We have our back and Forth’s but @anthonyfjoshua changed his stars through life, heavyweight boxing. These things happen, rest up, recover, regroup and come again.”

BREAKING: PENGASSAN PRESIDENT, FRANCIS JOHNSON IS DEAD

The President, Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Francis Johnson, has died.

The General Secretary of the organisation, Okugbawa Lumumba, disclosed this to reporters on Friday.

He reportedly died in the early hours of Friday.

Johnson became President of PENGASSAN in 2014, and was said to have died after an ailment.

Lumumba said members of the union were on their way to pay a condolence visit to the family.

‘LOOM MONEY NIGERIA’ IS A FRAUDULENT SCHEME, SEC WARNS

The Securities and Exchange Commission has warned Nigerians against fraudsters currently running an online investment scheme tagged “Loom Money Nigeria.’’

Acting Director-General of the commission, Ms Mary Uduk gave the warning at a news conference on Thursday in Abuja.

A statement by SEC’s Head of Media, Mrs Efe Ebelo, said that Uduk, who was represented by acting Executive Commissioner, Operations of SEC, Mr Isyaku Tilde, said Loom Money Nigeria had taken over the social media.

She said that the scheme targeted young people, luring them to participate in a pyramid model of the Ponzi.

The director-general disclosed that the fraudsters carried out their illegitimate activities via social media platforms like Facebook and WhatsApp.

She added that they lured young Nigerians to invest as low as N1,000 and N13,000 and to get as much as eight times the value of the investment in 48 hours.

Uduk said that the venture was a Ponzi scheme, where returns would be paid from other people invested funds, adding that it had no tangible business model.

“We are aware of the activities of an online investment scheme tagged ‘Loom Money Nigeria’.

“The platform has embarked on an aggressive online media campaign on Facebook and WhatsApp.

“They lure the investing public to participate by joining various Loom WhatsApp groups to invest as low as N1,000 and N13,000 and get as much as eight times the value of the investment in 48 hours.

“Unlike MMM that had a website and the promoter known, the people promoting Loom are not yet known and this pyramid scheme operates through closed groups mainly on Facebook and WhatsApp.

“If it were a local Ponzi scheme with known offices, it would be very easy for the Commission to seal their offices and freeze their accounts.

“We therefore wish to notify the investing public that the operation of this investment scheme has no tangible business model hence it’s a Ponzi scheme, where returns are paid from other people’s invested sum.

“Also, its operation is not registered by the Commission,” she said.

Uduk, therefore, advised the public to distance themselves from the scheme, adding that anyone that subscribed to the illegal activity did so at his own risk.

She assured that an inter-agency committee, Financial Services Regulation Coordinating Committee, was working on the issue, and that the commission was also collaborating with security agencies to track them down.

A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors.

Loom Pyramid Scheme is not new to the world. Last month, Daily Mail UK reported that the scheme has resurfaced online all over the world, with different names such as ‘loom circle’, ‘fractal mandala’ and ‘blessing loom.’

In Nigeria, its central name is Loom Money Nigeria with individuals creating their own WhatsApp groups such as Jack Loom, Catherine Loom, among others.

FG INAUGURATES 30 THOUSAND NAIRA MINIMUM WAGE IMPLEMENTATION COMMITTEE

The Federal Government on Tuesday inaugurated the committee to negotiate the consequential adjustment in salaries arising from the new National Minimum Wage, with the Head of the Civil Service of the Federation, Winifred Oyo-Ita, as chairman.

While inaugurating the committee, Secretary to the Government of the Federation, Boss Mustapha, who is an alternate chairman of the committee, said the committee has four weeks to complete its assignment with the inaugural meeting scheduled to hold on May 20, 2019.

Among the members of the committee are the ministers of Labour and Employment, Finance, Health, Budget, and National Planning and Education.

Others are the Attorney General of the Federation and Minister of Justice, Director General, Budget Office, Secretary of the Federal Judicial Service Commission, Secretary, National Assembly Service Commission and Chairman, National Salaries, Income, and Wages Commission, who will serve as the committee Secretary.

GOV. WIKE SACKS COMMISSIONER DAYS TO DISSOLVING CABINET

Gov Wike

Rivers State Governor, Nyesom Wike has sacked the State Commissioner of Power, Hon Shedrach Chukwu days before dissolving his cabinet.

The reason for the sack of Chukwu is still sketchy but sources say it may not be unconnected to party matters.

The Governor in a statement by his Special Assistant on Electronic Media, Simeon Nwakaudu directed the sacked commissioner to submit all Government documents and property in his possession to the Permanent Secretary of the Ministry of Power.

Meanwhile, Governor Wike has stated that his administration will focus on security and agriculture during his second term.

Addressing newsmen after projects’ inspection on Monday, Governor Wike added that his administration will also continue to develop the education and health sectors.

Governor Wike said that his administration will be very decisive on stopping street trading in the state capital and its environs.

He said: “We believe that security is important and we believe that agriculture is key to making sure that we take our youths away from the streets.

“While we are continuing with education and health, security, agriculture and environmental sanitation will be given priority attention.

“Port Harcourt must not continue the way it is. People trading on the streets make Port Harcourt dirty. Cleaning up the city will be a special project. We will not allow Port Harcourt to continue to be dirty.”

Governor Wike inspected the Real Madrid Football Academy, Judges’ Quarters and the Fruit Garden Market.