Djokovic beats Murray to round off a wonder year

Novak Djokovic says he has reached the peak of his career by taking a “holistic approach”, leaving nothing to chance.

The 28-year-old Serb put the finishing touches to one of the greatest years in tennis history on Sunday when he swept aside old rival Andy Murray 6-2, 6-4 in the final of the Paris Masters.

The tournament was the final one of the ATP regular season and the victory etched his name in the record books.

The first man to win three Grand Slam titles and six Masters Series titles in the same year, the first man to reach eight out of nine Masters Series finals and the first man to record 14 straight finals in the same year, all en route to a win-loss record of 78-5 — the achievements are phenomenal.

Djokovic, who is now firmly in the mix with Rod Laver, Roger Federer and Rafael Nadal for the label of the greatest player ever, insists that on sheer talent alone he would never have hit such dizzy heights.

“I think there are a few reasons why I have managed to reach my peak at this stage of my career this year,” he said after his defeat of Murray.

“I think in terms of physical and mental ability, I have reached my peak experience‑wise.

“Of course I did go through certain periods that had more doubts and, you know, I wasn’t as successful. It all served as a great lesson, as a way to improve and to get better. So this season, everything got together.

“I’m a married man, and I’m a father, as well. I think I have a nice balance and serenity in my private life that reflects on the professional life, and vice versa.

“I have this belief that the holistic approach will definitely get the best out of yourself.

“I’m still determined to improve, to get better. Nobody can be perfect, but, you know, if you are going for the perfection, you might reach excellence.

“That’s the kind of mind set I have. Try to work every single day with a purpose.”

It was not always so controlled and driven for the Serb, who had to leave his hometown of Belgrade at an early age to train in Germany and who had to overcome both physical and mental obstacles when he first entered the pro scene.

There were even charges that he was a choker and a bit of a hypochondriac as he struggled to deal with the physicality of Nadal and the legend of Federer.

But all that changed with his maiden major win in the 2008 Australia Open and then his wonder run in 2011 when he won the Australian and US Opens as well as Wimbledon.

He now has 10 Grand slam titles, four shy of Nadal’s haul and seven away from the all-time record of Federer.

But at 28 and in the peak of his career, overtaking them both is a very realistic target.

“I have been through stages in my life where I struggled a lot physically, especially in the beginning of the professional career. But, all those experiences in the past have helped me to get stronger, to learn from those experiences, to understand myself, my body,” he said.

“I try to take nothing for granted. I try to work on it all the time, because I know that that is the only way I’m managing to stay successful, is to continue progressing.

“I’m not trying to keep the status quo, because for me then that’s a regression.

“I just try to progress, improve all the time, work on certain things in my life and my game, and hopefully get better in the process, which I feel I’m doing now.”

Progressing for Djokovic now means winning the ATP World Tour Finals in London for the fourth time in two weeks’ time.

“I look forward to it, especially because of the fact that I have had the season that I have had, and the way that I’m feeling confidently. Hopefully I can finish off the season with another great win,” he said.

Nigeria's Golden Eaglets Beat Mali To Retain FIFA U-17 World Cup Title

NIgeria’s Golden Eaglets successfully retained the FIFA U-17 World Cup after beating Mali 2-0 at the Estadio Sausalito Vina del Mar, with Victor Osimhen scoring his record-breaking tenth goal of the tournament.

Striker, Osinachi Ebere missed a penalty in the early minutes of the first half, the defence of the Malians proved difficult for the Nigerian lads as the game ended goalless in the first half, despite the efforts put in by the Eaglets to at least score a goal before the half-time.

The second half was a different ball entirely for the Golden Eaglets with the approach they adopted in the second half. Victor Osinhen rose to the occasion again by scoring his tenth goal of the tournament, which enabled him to break the nine goals scored by Florent Sinama Pongolle in 2001 and Souleymane Coulibaly ten years later.

Funsho Bamgboye later sealed the victory for Nigeria in the 59th minute, as the game ended 2-0 at regulation time. Despite a couple of late chances for Mali, from corner kicks, Nigeria retained possession for large spells and saw the game out to retain their crown. The jubilant scenes on the final whistle in Vina del Mar will surely live long in the memories of these Nigerian heroes of the present, some of whom may just become the stars of the future.

With the 2-0 victory against Mali in the final on Sunday, Nigeria’s Golden Eaglets have won the FIFA U-17 World Cup trophy for a fifth-time record (1985, 1993, 2007, 2013 and 2015 respectively).
 
Adidas Golden Ball
1. Kelechi Nwakali (Nigeria)
2. Victor Osimhen (Nigeria)
3. Ahly Malle (Mali)

Adidas Golden Boot
1. Victor Osimhen (Nigeria)
2. Johannes Eggestein (Germany)
3. Kelechi Nwakali (Nigeria)

Adidas Golden Glove
Samuel Diarra (Mali)

Fair Play Award
Ecuador

Buhari will deliver free meal, create employment, says Osinbajo

The Muhammadu Buhari administration will strive to deliver on its campaign promises which include free meals for primary and secondary students as well as employment for the youths, Vice President, Prof. Yemi Osinbajo (SAN), has assured.

Osinbajo gave the assurance on Saturday at Ikenne, his home town where he was the Special Guest of Honour at the 39th Ereke Day celebration.

NAN reports that Ereke is an annual festival organised in Ikenne, Ogun State, as platform for addressing the town’s developmental challenges.

Osinbajo pointed out that the opportunity to address the nation’s numerous challenges and reposition the country for greatness is now.

He said that the All Progressives Congress (APC) administration would keep its promises, saying “the President has no other business besides fixing the problems of the country.”

He cited corruption and stealing as some of the reasons why things had gone wrong in the country, adding that, “but it is time now to fix all that have gone wrong.”

He restated the commitment of the Federal Government to address the challenges facing the country.

He said: “we have to deal with unemployment of young people; we have to deal with infrastructure; we have to deal with bad roads; we have to restore power, the challenges are many.

“But I want to assure you that every single day that President Buhari spends in Abuja; that I spend in Abuja, we will work hard to achieve the promises we have made.

“You can be sure of an honest and transparent government; you can be sure of hard work.

“You can be sure that everything we promised, we will do.”

Osinbajo, who also spoke to newsmen at the end of the event, said that President Buhari was working daily on how to solve Nigeria’s economic challenges.

“The President you know has no other business; he is not doing anything else; this is his life commitment.

“And he has said this is what he is going to commit his entire life to, to ensure that the economic problems are solved, employment opportunities are created,” the VP said.

He called on the indigenes of Ikenne to re-dedicate themselves to the visions of their elders such late Chief Obafemi Awolowo former Nigerian nationalist and Premier of the old Western Region.

Top 10 Most Expensive SUVs on the Market for 2015

1. Land Rover Range Rover

The version of this mighty vehicle that everybody wants to have is Land Rover Range Rover 5.0L V8 Supercharged Autobiography Black. This SUV is the most expensive one that you can find on the market in 2015, at least currently. Its average price is $186,495.00, and for that amount of money you expect it to have everything included, right? Well, it has everything, and even more. Four wheel ABS and driveline traction control, distance pacing, automatic air conditioning, customized intercooled supercharger, many more additions that will make this vehicle worth your money and the most important thing – a 510 hp supercharged V8!

2. 2015 Mercedes-Benz G-Class

The second most expensive SUV in 2015 is the Mercedes-Benz G-Class, which basically has the standard features of the G63 AMG model of Mercedes-Benz. With its average price of$137,150.00, this SUV offers one of the best off-road experience money can buy, but also you get the ultimate luxury of a Mercedes-Benz. It has all-wheel drive, which makes sure that all four wheels get power from the engine at the exact moment when it is necessary. This powerful vehicle has the mighty AMG 5.5L V-8 536hp engine twin turbo which makes it perfect if you like passionate driving or if you are going through rough terrains or mountainous areas. As for power, this is one of the most powerful vehicles in the world, however, don’t expect great mileage.

When it comes to safety, the new G-Class has still not been crash tested, however, due to the many safety features that it possesses we can conclude that this is one of the safest cars on the road and very adapted for small children- it has BabySmart airbag childseat sensor. This means that if a sensor detects a child sitting in the front passenger seat it will deactivate the airbags, as most front seat airbags are not designed to protect children. As one of the best SUVs, it couldn’t have such a prestigious reputation without having an integrated navigation system, airbags for all the seats in the car, and the airbag occupancy sensor. As for the looks, it has the appearance of a classical terrain vehicle, so if you like that sort of look, you will adore this SUV. But, in the end, it is not all about the looks, as this car will amaze you when you try the seats and all the gadgets, and when you feel the power of the engine.

3. 2015 Mercedes-Benz GL-Class

Here’s another Mercedes-Benz on this list of the most expensive SUVs this year, with its price at $119,450.00. This SUV has the standard features of the Mercedes-Benz GL63 AMG Base and the powerful AMG 5.5L V-8 550hp engine twin turbo, which similarly to the previously mentioned SUVs brings to this car’s ability to go effortlessly through all kinds of land, mountainous or not, sand or mud, snow or ice. You name it, it can go through it. But is is also good for the city or highway rides, and you will never feel uncomfortable when driving or being driven in this vehicle, as the seats are anatomical, and ,of course, the cabin is very spacious.

As for the safety, there are side seat mounted airbags, as well as a 3^rd row overhead airbag and a knee airbag for the driver’s seat, so in the case of a car crash, you will be protected as much as possible. This is definitely a car that you will want to buy if you have a family and you are looking for a good, comfortable car that has enough space and keeps you safe, can get you to places quickly and easily, and of course – doesn’t break easily. Besides being powerful, and safe, this vehicle is also good to look at, and both female and male drivers will like it when it comes to its aesthetics.

4. 2015 Mercedes-Benz M-Class

Again, a Mercedes-Benz. This one is a little less expensive than the previously described ones, but you can still buy a house for the cost of this SUV which currently averagely costs$97,250.00. This SUV has the standard features of the Mercedes-Benz ML63 AMG Base including the AMG 5.5L V-8 518hp engine twin turbo, and the four-wheel anti-lock brakes (ABS), as well as driveline traction control. If you are going somewhere you have never been before, you don’t have to worry about getting lost as this vehicle has an integrated navigation system. A good addition is the cruise control system that adapts the car’s speed to the traffic flow, and also you might want to get the factory installed backseat iPad docking station.

As for the safety, like the previous Mercedes-Benz SUVs mentioned in this list, it has air bags for every passenger in the vehicle, as well as the knee airbag for the driver’s seat. It also has the airbag occupancy sensor, so every seat that is taken will be protected if an accident happens. As for the comfort, the seats are very comfortable and long rides won’t be a problem for you or your family. There is also great automatic air conditioning, so you will never be uncomfortably hot or cold.

5. 2015 Cadillac Escalade ESV

One of America’s favorite. As all the Cadillacs, this is a very luxurious vehicle and it is no wonder that it found its place on the top 10 most expensive SUVs for 2015 list. This SUV has the standard features of Cadillac Escalade ESV Platinum, including a powerful EcoTec3 6.2L V-8 420hp engine and many other features that make this vehicle worth the money it costs. You can buy this car for the average price of $94,874.00, which is again more expensive than most regular semi-luxurious cars, and around the same price of a medium-sized house.

This car has an integrated navigation system, so you will never get lost when travelling to different places or going to a vacation with your family by car. Actually, this car is perfect for such travels, as it successfully battles mountainous areas as well as the city’s asphalt jungle, it can be driven safely whether the weather is sunny, rainy, snowing or ice cubes are falling from the sky. It is needless to say that this car is very safe, but it wouldn’t hurt to mention that there are airbags for each passenger in the car, as well as the airbag occupancy sensor, which makes each one of the passengers safe. There are also curtains for each seat, so you can have your privacy while resting on the back seat of the car while someone else is driving.

6. 2015 Land Rover Range Rover Sport

This all-terrain vehicle has the standard features of the Land Rover Range Rover Sport 5.0L V8 Supercharged Autobiography including the mighty 5.0L V-8 510hp engine intercooled supercharger. According to its features, it is very similar to the, currently, most expensive SUV Land Rover Range Rover 5.0L V8 Supercharged Autobiography Black, but the price difference is significant. However, that doesn’t mean that this car is not luxurious, good for all sorts of terrain and renowned for the safety it provides to all of the passengers.

This car, like all the others mentioned on this list, has the 4-wheel anti-lock brakes. You will feel safer when you learn that there is plenty of airbags in the cabin, and all of the passenger will enjoy the same safety as with the more expensive versions of Land Rovers. There is also the airbag occupancy sensor, so every person sitting in the vehicle will be protected. As for the comfort, the seats are made in such a way that long rides will not be uncomfortable at all, as there is enough space to stretch your legs and relax in your seat. Finally, you will never be too hot or too cold, as the air conditioning system is automatic and reported to be – perfect. For ‘only’ $92,495.00 you can enjoy the wonders and comforts of this SUV.

7. 2015 Cadillac Escalade

The standard features of this SUV, that looks like it could survive any kind of obstacle, include the EcoTec3 6.2L V-8 420hp engine, and similarly to all the previously mentioned SUVs, it has 4-wheel anti-lock brakes (ABS) which generally improves vehicle control and makes the vehicle safer to drive and to be driven as you will be able to stop and skid less on slippery roads. So if you decide to visit some distant place, you don’t really have to worry about the weather, as this SUV is safe to drive on every weather type, and you sure won’t get lost as there is an integrated navigation system that will lead you whenever you need to go the shortest, or the most enjoyable road possible, according to your demands.

All the seats have airbags, on the sides and overhead, and there are curtains put there specifically to contribute to your comfort and enable you to relax and avoid the strong sun keeping you from resting while traveling in this car. The aesthetics of this car are of such type that it can appeal to both male and female drivers, and especially to those who like to have something luxuriously and powerful looking. This is also a good family car, and there is enough room for people of all body types to feel comfortable in their seats.

8. 2015 Lexus LX 570

This SUV has the standard characteristics of the Lexus LX 570 Base and that includes the engine that makes all the difference when choosing a car, and in this SUV that is the 5.7L V-8 383hp engine. You can buy this SUV for the average price of $83,180.00. This engine makes it possible for this car to go through all kinds of terrain without getting stuck anywhere or having any kind of road trouble. This car has an integrated navigation system, so if you decide to get on the road and go exploring different areas and places, you will be well guided and your navigation device will lead you anywhere you choose, as long as the place you want to go is on the map.

As for the safety, this SUV has airbags for all the seats, overhead and on the side, and as an addition, there is the knee airbag for the driver and passenger seat. There is also the airbag occupancy sensor, so everyone in the car will be protected in case of an accident. As there are 7 seats in this car, it is a perfect choice if you have more children in your family. However, this is also a sport car, and even if you are a single person the Lexus LX 570 will not leave you disappointed.

9. 2015 Toyota Land Cruiser

For the average price of $80,155.00 you can buy this amazing Toyota Land Cruiser with the standard Toyota Land Cruiser V8 characteristics, which among other things includes the i-FORCE 5.7L V-8 381hp engine. From the looks of this SUV, one might say that it is a masculine car, in all its power and strength, but there’s no saying that a woman wouldn’t like to drive it. It is a powerful vehicle that will take you to lots of different places in all kinds of weather quickly, safely and comfortably.

It has 4-wheel anti-lock brakes (ABS) which will prevent it from skidding on slippery roads and make your drive safer and your driving feeling improved. There is also an integrated navigation system, so you don’t have to worry about getting lost or asking strangers for directions. As for the safety, there are airbags for each seat in the vehicle, overhead as well as on the side (in case a rear side impact happens), and there are also knee airbags for the driver’s and passenger’s seat. The temperature is always pleasant as the air conditioning system is automatic. This is yet another sports car, but it is also very appealing if you wish to drive your family in it, since there are 7 seats and enough room for everyone to feel relaxed.

10. 2015 BMW X6

For the cost of $74,500.00, on average, you can get the mighty BMW X6 that has the standard BMW X6 xDrive50i characteristics, including the 4.4L V-8 445hp TwinPower Turbo engine which allows this car to achieve high speeds and have excellent uphill driving strength.

If even that isn’t good enough for you, you might want to get the BMW X6 M version with the supercharged 4.4 V8 with 537hp, going 0-60mph in only 4s! The M version will set you back at least $102,200.00, or even more if you go for some additional options. The way this SUV looks, it is somewhere between an SUV and a normal sports coupe car, as it is not so large in size nor is the roof as lifted as on the other previously mentioned SUVs.

Except for looks, other characteristics of this car indicate that there is no doubt about it being an SUV. Safety measures such as the 4-wheel anti-lock brake system will improve your driving experience and make your trips in wet weather conditions much safer and stress-free. There are airbags on the sides (in case or a rear end crash) and overhead, as well as the airbag occupancy sensor. Adding to the comfort while driving in this vehicle there is the automatic air conditioning, which means the temperature is always pleasant regardless of the time of the day or year. This is a 5-seat sports car, so if you have more than 3 children, this car might be too small for you. But this is definitely a car that many people, male or female, dream about having.

Senate Asks Buhari to Probe Jonathan’s SURE-P

The Senate on Wednesday urged President Muhammadu Buhari to hold his predecessor, Dr. Goodluck Jonathan, accountable for every amount of money spent by his administration on the Subsidy Re-investment and Empowerment Programme (SURE-P) as well as other poverty alleviation programmes.

The resolution to hold Jonathan accountable for SURE-P fund was predicated on a prayer introduced by Senator Babajide Omoworare (APC, Osun State) to the motion moved by Senator Albert Akpan (PDP, Akwa Ibom) in which he (Akpan) expressed grave concerns about the soaring unemployment rate in Nigeria, stressing that unemployment has become a time bomb that required prompt intervention of  government.

But an earlier prayer by the  Minority Whip, Senator Philip Aduda (PDP, FCT), requesting  that Buhari administration should immediately fulfil its campaign promise that it would pay unemployed Nigerians a sum of N5,000 monthly stipend was however turned down by the Senate.

Aduda had after the  approval of the initial recommendations of the motion, raised an additional prayer, saying “the federal government should immediately commence the payment of the N5,000 monthly stipend it promised during the pre-election campaign.”

The prayer was quickly seconded by Senate Minority Leader, Senator Godswill Akpabio.

But unsettled by the prayer, Omoworare raised a point of order to oppose the additional prayer.

The development led to a stand-off between APC senators and their opposition PDP counterparts for 22 minutes, prompting the intervention of the President of the Senate, Bukola Saraki.

Saraki in his bid to bring the prolonged rowdy session to an end, asked Aduda to repeat his additional prayer. After doing so, Saraki put the additional prayer to a voice vote ruled in favour of its opponents, saying “the nays have it.”

Saraki thereafter allowed Omoworare to raise another additional prayer, saying “I want to move that the immediate past government be made to account for every penny spent on SURE-P and other poverty alleviation programmes. I so move, Mr. President.”

When Saraki put the prayer to a voice vote, APC senators chorused “ayes,” but PDP senators, who were apparently disenchanted by the handling of their own prayer, ignored the voice vote without a response. Consequently, Omoworare’s prayer was passed.

In his motion, Akpan had observed that the recent statistics on unemployment situation in Nigeria by the National Bureau of Statistics (NBS) revealed how the unemployment rate had increased to 8.2 percent in the second quarter of 2015 from 7.5 percent recorded in the first quarter of the year and 6.4 percent in the last quarter of 2014.

He said: “The latest statistics as released by the Bureau reveals that economically active population or working age comprising Nigerians within the age range of 15 to 64, are now 103.5 million, increasing from 102.8 million in the last quarter of 2014, while the unemployed labour force now stands at 74 million Nigerian youths. This is truly a calamity,” he noted.

The Senate resolution on probing Jonathan came ahead of the unveiling of the chairmen and deputies of its 65 standing committees by the President of the Senate, Saraki.

THISDAY had on Monday exclusively reported that Saraki will jack the number of committees from the 56 it operated during the 7th Senate to 65 and unveiled their chairmen this week.

A breakdown of the committees’ composition showed that All Progressives Congress (APC) caucus secured the chairmanship of 41 committees while the opposition Peoples Democratic Party (PDP) will be heading 24 committees.

Some of the old committees have been split into two while a few new ones were also created.

Among those broken into units were the Senate Committee on Education out of which Senate Committee on Basic and Secondary Education as well as the Senate Committee on Tertiary Institutions and TETFUND Committees have sprung up. In the same vein, what was known as the Senate Committee on Health was divided into Health Committee and Primary Health Care and Communicable Diseases Committee respectively.

Also split was Environment and Ecology Committee which has now been broken into the Environment and Ecology Committee and Climate Change Committee respectively while the former Information Committee, Media and Public Affairs has been split into Media and Public Affairs as well as Information and National Orientation Committees.

Also, Committee on Drugs, Narcotics and Financial Crimes has been broken into Anti-corruption and Financial Crimes as well as Drugs and Narcotics committee respectively. On the other hand, the newly created committees are ICT and Cybercrime; Customs, Excise and Tariff as well as Diaspora and Civil Societies committees.

Ahead of the composition of the committees, the Senate Standing Orders had earlier been amended to include a provision that committees in eight Senate would be shared on the basis of geo-political zones and no longer on the basis of majority and minority statuses.

Against this background, PDP senators who got Grade A committees are Uche Ekwunife (Downstream Petroleum); John Eno (Finance); James Manager (Power); Bassey Albert (Gas); Joshua Dariye (Solid Minerals); Sam Egwu (Industries); Peter Nwaoboshi (Niger Delta); Hope Uzodinma (Aviation); Andy Uba (Public Account) and Gilbert Nnaji (Communications).

APC senators who secured the chairmanship of Grade A committees are Danjuma Goje (Appropriation); Ahmad Lawan (Defence); Abu Ibrahim (Police Affairs); George Akume (Army); Ajayi Borrofice (Science and Technology); Tayo Alasoadura (Petroleum Upstream); Ahmed Sani (Marine Transport); David Umaru (Judiciary, Human Rights and Legal Matters; Rafiu Ibrahim (Banking Insurance and Other Financial Institutions); Dino Melaye (Federal Capital Territory); Binta Garba Mashi (Tertiary Institutions and TETFUND); Kabir Gaya (Works) and Fatimat Raji Rasaki (Trade and Investment).

Anyanwu (Ethics, Privileges and Public Petitions) and Shaaba Lafiagi (National Security and Intelligence).

Meanwhile, the Managing Director of the Nigerian Airspace Management Agency (NAMA), Mr. Ibrahim Abdulsalam, yesterday assured  air travellers of adequate safety, explaining that necessary facilities were being installed to guarantee safety in the country.

Mexico coach slams Nigeria, Mali as age cheats

Apparently stunned by the artistry of defending champions, Golden Eaglets in the on-going FIFA U-17 World Cup in Chile, former Mexico U-17 coach, Raul Gutierrez has accused the Nigerian wonder-kids of doing things no real U-17 player could do with the ball.

He did not spare Mali too as he claimed that the two African teams in Chile could not possibly be U-17 players.

Raul Gutierrez

Gutiérrez was in charge when the 2013 set of Eaglets beat Mexico twice en-route to being crowned champions in the United Arab Emirates.

And while the Golden Eaglets have been outstanding at the ongoing tournament in Chile, Gutiérrez suggests that there is much to meet the eye as he posited that the Eaglets aside their physical attributes take decisions that are not expected of true U-17 players.

Gutiérrez also made same accusation against the Mali team that have also booked their place in the semi final.

“It’s the same with the Nigeria team, so with Mali, that beyond their physical development, decisions made by many of their players are not of an U-17 player’’ the coach told mediotiempo.com.

Despite his fears, Gutiérrez said he believes Mexico can beat Nigeria when both countries meet in the semi-finals on Thursday (12a.m. Friday, Nigeria time), but admitted that it will be difficult. “Sure we can beat them. I think Mexico can have a good result on Thursday.

“In football nothing is written, everyone already knows that the game will be complex. We will face an opponent with a winning record, but you must play the game, the matches are defined on the field and we have to think that way,” says Gutiérrez.

Nigeria: The Tax Alternative

As cash-strapped Nigeria looks for ways to shore up its dwindling revenue, leaders now in search of ideas on how to turn around the national economy merely look back to the past in nostalgia and call for a resort to a better system of taxation on the citizens.

This is not only simplistic, it advertises a complete flight from the rigour which the Nigerian crisis demands. Better taxation may be one of the solutions but even so, many other variables will have to be in place before it can be an effective one.

Governor Adams Oshiomhole of Edo State is among those voicing a return to stringent tax rule as the way out of the country's current crisis. While noting that the Federal Government must deepen its internally generated revenue as it is done in the developed world, the governor said, "central to every debate to every country with mature democracy is the issue of tax payment. We have to find the courage to be firm and just and we have to give commensurate service." In the same vein, the Governor of Kwara State, Abdulfatah Ahmed said he would prioritize tax collection in his state, especially efficiency of collection, administration and management in order to generate funds for infrastructural development.

Simultaneously, the Acting Chairman, Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler has called for a tax alternative to the dwindling national revenue during an interactive meeting with members of the Chartered Institute of Taxation of Nigeria (CITN) in Abuja. He said it should by now dawn on the people and government at all levels that the days of reliance on oil revenue often statutorily shared among the tiers of government were over and as a consequence, organisations and individual earning income must be willing to pay tax.

Helicopters: Lagos Commissioner justifies govt. plan

The Lagos State Commissioner for Information and Strategy, Steve Ayorinde, says the purchase of three additional helicopters by the state government has become necessary in the wake of a rising crime rate.

Mr. Ayorinde restated the need for the helicopters in a statement issued by the Lagos State Ministry of Information and Strategy on Wednesday in Lagos.

Governor Akinwunmi Ambode had on October 25 hinted of the plan to purchase the helicopters to boost security and surveillance, but the move had criticism from some quarters.

Mr. Ayorinde, however, insisted that the purchase had become necessary to beef up surveillance and ensure security of lives and property of residents.

The commissioner said that the helicopters would complement ground efforts of security operatives in checking crime in the state.

He said that the purchase had also become necessary in view of the precarious security and traffic situation in the state.

Mr. Ayorinde said the state government had painstakingly studied the situation and resolved to unlock the traffic gridlock being experienced by residents with a motivated workforce and modern technology.

He decried attacks on innocent citizens and said the government would not fold its arms and watch them get molested and dispossessed of their valuables in traffic or anywhere.

Mr. Ayorinde said every available measure would be adopted to fight crime in the state.

“The 33,000 policemen serving in the state with estimated 21 million people is grossly inadequate, thus necessitating complementary efforts from the government’’.

He expressed optimism the helicopters would go a long way in aiding security and traffic surveillance. He, however, did not give details of the projected results of the helicopter, the method the helicopter “technology” will be utilised to curb crime and ease traffic, the modalities involved or how it will complement the effort of ground officers.

Mr. Ayorinde also implored the residents to always alert security operatives of any form of crime noticed within their vicinity, using dedicated and toll free lines 767 and 112. (NAN)

FRC lacks the ‘authority’ to suspend Stanbic IBTC’s directors, says CBN

The Central Bank of Nigeria (CBN) has waded into the crisis involving Stanbic IBTC Holdings and the Financial Reporting Council of Nigeria (FRC), listing a series of procedural infractions committed by the regulator – rather than the bank – and dismissing all allegations of “financial misstatements” brought against the bank.

On October 26, FRC had urged CBN and the Economic and Financial Crime Commission (EFCC) to investigate Stanbic IBTC and KPMG Professional Services for “financial misstatements”.

It also suspended the registration of four directors of Stanbic IBTC – Atedo Peterside, Sola David-Borha, Arthur Oginga and Dare Owei – and that of its audit engagement partner, KPMG Professional Services, “until KPMG’s innocence is ascertained”.

According to the council, the bank misstated its financial reports for the 2013-2014 fiscal year and ceded its banking application rights to Standard Bank of South Africa against the directives of National Office for Technology Acquisition and Promotion (NOTAP).

“The schedules supplied to the council by Stanbic IBTC revealed that the total fee paid to KPMG Professional Services for non-audit services was inconsistent with what was disclosed in the financial statements for the years under review,” it said. “In 2014 for instance, a total penalty of N28,000,000 was imposed on the group. Among the contraventions was improper disclosure of public sector deposits in 2014…. Stanbic IBTC seems to have a penchant for poor disclosures which further corroborates the findings in this report.”

Issuing a stern response, Stanbic IBTC had described the suspension of the registration of its directors as a recourse to “self-help” and “media publicity”. It claimed to have met the disclosure requirements of the international financial reporting standards (IFRS), and accused FRC of making “inaccurate and unfortunate” allegations and breaching the procedural guidelines laid down in the law.

“FRCN’s allegations are inaccurate and unfortunate, and the manner in which it has chosen to make them is procedurally defective,” the bank said in a statement issued by Sola David-Borha, its CEO, and Chidi Okezie, company secretary.

“Whilst FRCN takes refuge in Regulation 21 of the Directorate of Inspection and Monitoring Guidelines Regulations 2014 for the wide publicity that it has given to its regulatory decision, Regulation 21 only applies: ‘Where the Panel and the entity agree that accounts are to be rectified by way of revision or restatement’.

“That is not the case here, because Stanbic IBTC does not agree that its accounts are defective or require rectification. Moreover, Regulation 27 makes clear that where a reporting entity does not accept FRCN’s position, FRCN ‘shall institute a legal action against the entity’.

“FRCN has ignored this laid-down process in preference for self-help and media publicity. The matters that FRCN alleges to be wrong are not wrong in any material respect and many are in any event not matters of financial reporting at all, but matters of business decision and judgment for Stanbic IBTC and its board of directors.”

After taking up the invitation of FRC to investigate the allegedly guilty parties, Godwin Emefiele, governor of CBN, wrote a letter dated November 2, 2015 (which is now in PREMIUM TIMES’ possession) to FRC.

In four of the five allegations of infraction levelled against the bank, CBN said it could not spot any wrongdoing.

In the only case where it agreed that Stanbic erred, it said the error neither increased nor decreased the bank’s income or expenditure, such as would have caused material “missreprentation of the financials”.

On legal issues, CBN expressed concern about the “apparent failure” of FRC to “follow due process as laid down by its own FRC Act and Regulations, in arriving at the Regulatory Decision”.

After listing a series of regulatory breaches made by the council, CBN said FRC lacked the “authority” for suspension “as was done in this case”.

It therefore declined the request of FRC to take disciplinary action against the bank. “Indeed, the CBN does not see any reason to advise/compel SIBTCH to obey the sanctions meted to it by the FRC,” read Mr. Emefiele’s letter.

MTN Seeks to Cut $5.2 Billion Fine by Up to 80%, RenCap Says

MTN Group Ltd. is trying to reduce a $5.2 billion fine imposed by Nigeria’s telecommunications regulator by as much as 80 percent and is considering borrowing money from banks to help settle the penalty, according to Renaissance Capital.

“MTN is pushing to reduce the fine by 60 percent to 80 percent,” Adesoji Solanke, RenCap’s head of research in Nigeria, said in a note to clients on Wednesday, citing a bank he didn’t identify. A second lender said that “MTN is considering borrowing from banks, as it recently checked what the banks’ lending capacity to it is,” the analyst said.

MTN has until Nov. 16 to pay the penalty, which relates to the timing of the disconnection of 5.1 million subscribers and is based on a charge of 200,000 naira ($1,005) for each unregistered customer. The Johannesburg-based company’s shares lost almost a quarter of their value following the disclosure of the fine, before recovering 9 percent over the past two sessions.

“We don’t comment on banking matters and banking regulators in Nigeria are best placed to provide context on these matters,” MTN spokesman Chris Maroleng said by phone. “I don’t have that information,” Tony Ojobo, a spokesman for the NCC, said in a text message.

MTN shares gained as much as 4.1 percent and traded 3.5 percent higher at 160.89 rand as of 2:28 p.m. in Johannesburg. The stock is down 27 percent this year, valuing the company at 297 billion rand ($21.5 billion).

MTN is being advised by some unidentified banks as the company pleads its case with the regulator, according to Solanke. A decision to borrow would be one of financial management rather than an indication of stress, he said.

No power blackouts in South Africa until April 2016 – Eskom CEO

South African power utility, Eskom, does not expect to implement electricity blackouts until April 2016, its chief executive told parliament on Wednesday.

Embarking on a massive maintenance programme to keep its ageing coal-fired power plants running, Eskom was earlier this year forced to implement power cuts known locally as “load shedding”.

However, the utility has only cut power to certain areas for only two hours and 20 minutes in the past 87 days.

“We will continue to supply the country’s electricity and maintain our plant with minimal or no load shedding,” Brian Molefe said. (Reuters/NAN)

6 of 10 children will suffer violence before 18 years- UNICEF

Rachael Harvey, the Chief, Child Protection, United Nations Children’s Fund (UNICEF), has said that six out of 10 children would suffer one form of violence before they reached the age of 18. Harvey made this known on Wednesday at a two-day workshop organised by the Lagos State Ministry of Women Affairs and Poverty Alleviation (WAPA) in collaboration with UNICEF in Lagos.

“The Violence Against Children (VAC) survey shows a huge prevalence of violence against children in Nigeria – emotional, physical and sexual. “Six of 10 children will suffer one form of violence before they reach the age of 18, while one in two suffers physical violence- intentional burning, kicking, whipping and punching.

“Also, one in four girls and one in 10 boys suffer sexual violence, and one in five boys and one in six girls suffer emotional violence,” she said. Harvey said that the major challenge in VAC was that children were suffering in silence. According to her, very few children ever speak out about what is happening to them.

“Even when they speak out, they do not try to access services. Less than five per cent of children ever receive support. “Adults are much more likely to perpetuate violence when they are adults,” Harvey said. She said that it would require everyone including the government, Non-government Organisations (NGOs), communities, parents and the media to take a stand to prevent and respond to VAC.

“We have to have communities that do not tolerate violence and if violence happens, we need to speak out. “We need services that are available and responsive, and when children come to them, they will get the services they need to help them,” she said.

Also speaking, the Director, Child Development, WAPA, Mrs Alaba Fadawo, said that the ministry had put in place many strategies to curb VAC. Fadawo said, “There is an ongoing aggressive campaign. “The other thing is intervention and rescue where children are abused and persecution of perpetrators of abuses.

“Apart from that, there is a team in place, a Sexual Violence Response Team, which is a network of stakeholders working with children to ensure that violence is minimised,” she said.

She said that the ministry had issued Yellow Cards, which, according to her, were warning cards. “In the yellow cards, there are help lines where we can be reached. “Within the communities, the cards are distributed to people so that as soon as a child is being violated, people can call the help line. “Such child will be rescued and the perpetrators will be handled legally,” Fadawo said.

I am not scaring away investors, they know the truth – Buhari

President Muhammadu Buhari yesterday reacted to claims by his critics led by the opposition Peoples Democratic Party, PDP, that his recent pronouncements in India are capable of scaring away foreign investors, by insisting that he will always tell investors the truth about the nation’s economy.

This was as he explained that any serious investor meaning to invest in the Nigerian economy would have found out all he needs to know about the economy as such would not be deter by his sincere comments.

Buhari, who reiterated this position while receiving a report on the confirmation of ministerial nominees from the Senate President, Dr. Bukola Saraki, appraised the economy he had been faced with since assuming office in May and concluded that “we are so much battered.”

According to him, “the economy as I have seen it now since my sitting here for the last four months, that we are so much battered. Although some people are saying I am giving bad publicity and scaring away investors.

“Any investor who is interested in investing in Nigeria will seem to know more about the economy more than ourselves. So when I come and tell the truth about the position of the economy of the country, I am going out looking for investors.

“But I am confirming to them that we are truthful, that we need them to come and help us help ourselves by getting in industries, manufacturing and services.

“They know our needs. The economy of human resources, I believe, will make them come eventually and help us,” he assured.