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President Muhammadu Buhari has approved the purchase of equipment worth $1 bn for the military. The Minister of Defence, Mansur Dan Ali, stated this in an interview with State House correspondents at the end of the meeting that Buhari had with security chiefs at the Presidential Villa, Abuja, on Wednesday.

“What I can add after all that I have said is to inform you that of recent, our leader, President Muhammadu Buhari, gave approval for the purchase of more equipment for the military, worth $ 1bn” the minister said. Although Dan Ali did not disclose the source of the money, the National Economic Council, chaired by Vice President Yemi Osinbajo, had in December 2017 approved the withdrawal of $1 bn from the Excess Crude Account to fight insecurity.

The minister described the meeting with the President as a “normal meeting of security agencies in the country.” He said issues concerning security situation in some states, including Taraba and Zamfara, were discussed. On what to expect after the deployment of troops in Zamfara, Dan Ali said, “We have operationalised a division in Sokoto. There will be a Brigade in Katsina and another Brigade in Zamfara that will take care of security situation in the areas.

“Of course, the strength of security personnel has increased, including the air force additional quick response group; they have added enough manpower in that area.”He said efforts were being intensified to secure the release of Leah Sharibu, the Dapchi schoolgirl still being held by Boko Haram because she allegedly refused to renounce Christianity.

However, the weekly meeting of the Federal Executive Council did not hold on Wednesday. As of the time of filing this report, no official reason was given for the cancellation of the meeting which usually holds every Wednesday at the Presidential Villa, Abuja. Buhari presides over the FEC that has Vice President Yemi Osinbajo; all ministers and some presidential aides as members.

BIG STORY

Polaris Bank Takes Over Skye Bank, CBN Assures Depositors Of Cash Safety

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Following the withdrawal of the operating licence of Skye Bank Plc, the Central Bank of Nigeria (CBN), in consultation with the Nigerian Deposit Insurance Corporation (NDIC), has established a bridge bank known as Polaris Bank, to assume the assets and liabilities of the defunct bank.

CBN Governor, Mr. Godwin Emefiele, who disclosed this on Friday, said the strategy was for the Asset Management Company of Nigeria (AMCON) to capitalise the bridge bank and begin the process of sourcing investors to buy out AMCON.

“By this decision, the licence of the defunct Skye Bank is hereby revoked.

We wish to assure all depositors that under this arrangement, their deposits shall remain safe and that normal banking services shall continue in the new bank on Monday, 24th September 2018, to enable customers to transact their businesses seamlessly.

“Thus, all customers of Skye Bank shall be automatic customers of the new bank and their accounts and records duly purchased by Polaris Bank,” Emefiele explained.

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BIG STORY

BREAKING: CBN Revokes Skye Bank’s Operational Licence

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The Central Bank of Nigeria has withdrawn the operating licence of Skye Bank, The Cable reports.

Umar Ibrahim, chairman of the Nigeria Deposit Insurance Corporation (NDIC), made this known to journalists on Friday.

More details will be provided shortly…

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BIG STORY

Osun Guber: Don’t Kill Yourselves Over Who Becomes Governor, Only God Gives Power — Ooni Of Ife

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The Ooni of Ife, Oba Adeyeye Ogunwusi, Ojaja II, has warned youths against political violence before, during and after the Osun gubernatorial election coming up on Saturday.

Oba Ogunwusi gave the warning during the courtesy visit of the Social Democratic Party (SDP) gubernatorial candidate, Sen. Iyiola Omisore to his Palace, on Thursday, in Ile-Ife.

He said: “It is only Almighty Allah that has the power to elevate whoever He wants to the post. For He is in Heaven doing what pleases Him”.

According to him, people don’t need to fight each other over getting to a post, but should rather allow God’s will to come into perfection.

The royal father, therefore, appealed to all and sundry to maintain peaceful coexistence in the forthcoming election, saying there is no gain in blood shedding.

Earlier, Omisore lauded the Ooni for his fatherly role and for supporting his aspirations to rule the state.

Omisore also thanked Ife and Osun indigenes, for rallying around him in his campaign and appealed to all and sundry to support him by casting their votes for him during the election.

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