Oil demand to peak at 104.4 million bpd in 2035 Unipec
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world oil demand will peak at 104.4 million barrels per day bpd in the mid-2030s up from just below the current 100 million bpd1 it shall be so as new technologies gradually eat into oil use chinas unipec said on monday at the annual asia pacific petroleum conference appec in singapore1 unipec president chen bo said improved energy efficiency and technological changes are keys to the trend1 he also said that the rise of renewables also meant global oil demand growth would slow in coming years and peak at 104.4 million bpd in 2035my noting that inspite of trade disputes between china and the u.s. crude supply was an important new source for chinese refiners1 he added that it allows diversification away from middle east and african crudes on which china has relied heavily he said1 trade war tensions between the united states and china will last just for the time being and in the future well be active in this area he said1 chen bo also said china would reduce iranian oil imports because of looming u.s. sanctions against the middle east country due to start in november1 there had not yet been a decision on how big these cuts would be1

Sexual assault: Bill Cosby faces 30 years in prison
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given his advanced age and health issues its likely that cosbys legal team will argue for a lesser sentence than the max 30 years. regardless his lawyers previously made it clear that he plans to appeal the verdict1 bill cosby 81-year-old american comedian could face the rest of his life in jail after he was found guilty of sexual assault in april after a jury heard allegations from andrea constand1 cosby was found guilty on three counts of felony aggravated indecent assault for drugging and molesting constand 45 at his suburban philadelphia home in 20041 the guilty verdict brought an end to a long-running downward spiral for cosby who was accused by dozens of women of similar crimes after public interest in his rape allegations was renewed1 constands allegations are in line with others but hers were unique in that the statute of limitations on the crime had not yet expired1 sentencing begins monday and is expected to last two days. while the judge will ultimately have the final say in cosbys punishment the potential consequences for cosbys crimes allow for many options1 the maximum term is 10 years per count. however a smaller jail stint house arrest and probation are also on the table for the embattled former comedian1 if sentenced for his crimes montgomery county judge steven t. oneill who will have the final say monday could put cosby on probation house arrest or throw him into prison1 his trial is being heralded as the first major celebrity trial of the metoo era. as a result theres massive public attention being paid to the outcome with those coming out against cosby wondering if the court will give him a pass in terms of punishment given his fame1 i really think its important that he spend some time behind bars said lise-lotte lublin who said cosby assaulted her when she was 23 in 1989. the then-model said cosby prodded her to take two drinks to relax. at some point he should acknowledge what hes done and do the time for the crime1 another cosby accuser chelan lasha said he deserves every year of his potential 30-year sentence1 once called americas dad cosbys reputation has been in decline since comedian hannibal buress brought up the numerous rape allegations against the comic in 2014. since then more than 60 women have come forward with allegations against him1 cosby and his legal team have shown that they want to mitigate the amount of damage being done to his reputation starting with the classification of him as a sexually violent predator. mondays sentencing is expected to begin with a debate over this classification1 pennsylvanias sex-offender board has examined cosby and recommended he be deemed a predator concluding that he has a mental defect or personality disorder that makes him prone to criminal behavior1

Ndume renews call for power rotation in Borno
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by harrison arubu5 although it is still a small number if you look at it but we are hoping we will get there one day he said1 ndume made the call when he appeared as a guest on the news agency of nigeria nan forum in abuja on sunday1 the lawmaker who represents borno south in the senate noted that in the interest of fairness equity and natural justice it was proper for someone from his constituency to be allowed to serve the state as governor1 it is feasible if there is an agreement and that is what i have been advocating for i am part of the advocacy for power rotation1 former leader of the senate ali ndume has renewed his call for borno south senatorial district to be allowed to produce the next governor of the state1 unfortunately it did not see the light of the day because the majority had their way. but we have started the struggle. it is not something that is realisable in a day1 ndume identified lack of unity and understanding among the minorities in the district as the major challenge undermining their aspiration1 he however said he had seen some improvement as the people of southern borno had become more united than before1 we are giving it a shot because out of the 23 or 24 contestants for the gubernatorial election we have about three or four people from southern borno this time around1 but let me say that when i was the senate leader i made sure that power rotation was included in the constitution amendment bill1

Singapore fines Uber, new partner, Grab $9.5 million
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the regulator said effective fares on grab rose 10 to 15 per cent after the deal and that the firm now holds a singapore market share of around 80 per cent1 singapores anti-trust watchdog fined ride-hailing firms grab and uber a combined 9.5 million dollars over their merger-deal and ordered uber to sell vehicles from its local leasing business to any rival that makes a reasonable offer1 the cccs on monday said it had finalised several measures to lessen the impact of the transaction on drivers and riders and open up the market for new players1 it also said it had found the merger to have substantially reduced competition in the market1 the regulator said it has fined uber s6.6 million and grab s6.4 million to deter future completed irreversible mergers that harm competition1 it also ordered grab to remove its exclusivity arrangements with drivers and taxi fleets1 mergers that substantially lessen competition are prohibited1 cccs has taken action against the grab-uber merger because it removed grabs closest rival to the detriment of singapore drivers and riders cccs chief executive toh han li said in a statement1 the deal invited regulatory scrutiny in the region with the competition and consumer commission of singapore cccs in a rare move launching an investigation just days after the deal was announced1 it told grab to maintain its pre-merger pricing algorithm and driver commission rates1 it also ordered uber to sell vehicles of its singapore-based lion city rentals to any potential competitor who makes a reasonable offer based on fair-market value1 it prohibited uber from selling those vehicles to grab without regulatory approval1 lion citys fleet totalled 14000 vehicles as of december1 uber said it believed the cccss decision was based on an inappropriately narrow definition of the market and incorrectly describes the dynamic nature of the industry saying it would consider appealing1 grab said it completed the transaction within its legal rights and maintained it did not intentionally or negligently breach competition laws1 it added that it had not raised fares since the deal and said for drivers to have full maximum choice all transport players including taxi operators should also be subjected to non-exclusivity conditions1 it said it would abide by remedies set out by the cccs1

DTigress stun Turkey in FIBA Womens World Cup
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an elated ogoke told reporters after the match it was great. i have played for a while with the national team and i felt as though i personally had a point to prove1 dtigress nigerias female basketball team made history at the ongoing fiba womens world cup in spain as they stunned turkey 74-68 in the group b game decided on sunday in tenerife1 with the victory the nigerian side nicknamed dtigress put themselves in a strong position to finish second in group b1 sarah ogoke shot the highest point for nigeria as her with 22 points helped propel dtigress against their formidable counterparts1 evelyn akhator also impressed with a 13-point 10-rebound double-double1 turkey struggled for much of the game as isil alben contributed 15 points while esra ural topuz suffered a knee injury1 it was nigerias first-ever fiba womens world cup victory and the first time the female team would defeat any european opponent1 we finally got an opportunity to show what we can do with this historic win against turkey she said1 coach of dtigress otis hughley praised the teams courage against a respected turkish side turkey have been through a lot to build that programme and for us to sneak a little shortcut like that1 i was praying almost on my knees as were so inexperienced and young. we came through a lot of adversity and mistakes and were still able to fight off a couple of runs1 we even held on with some poise the coach said1 senegal another country representing africa at the tournament also recorded their first-ever victory against latvia to make it a memorable night for africa1 nigerias final group game will be against argentina on tuesday who are yet to record a victory1

Pinnick hails Enyimba, demands self-belief against Raja
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i want to specially praise the efforts of the chairman of the club chief felix anyansi-agwu who is a ranking member of the nff executive committee1 by dianabasi effiong1 according the federations media aide ademola olajire pinnick gave the advise on sunday while congratulating the peoples elephant for their 5-1 defeat of rayon sports of rwanda1 the match played at the enyimba international stadium aba qualified the team for the semi-finals of the competition on a 5-1 aggregate1 i want to commend the players and members of the technical staff for their endeavour in this competition so far1 i watched their match against cara brazzaville in the group phase and i know the players and technical crew have great ambition and can go all the way to the final and do nigeria proud by winning the cup1 their next opponents raja casablanca are a tough act. but enyimba have the players and the technical team to plot victory and all they require is strong self-belief to conquer the moroccans pinnick said in statement by olajire1 i appeal to all nigerian fans and football stakeholders to give the club necessary support to make us smile as they are the only nigerian club left in continental club competition this year1 the president nigeria football federation nff amaju pinnick has advised nigerias flagbearers in the semi-finals of 2018 caf confederation cup enyimba fc of aba to have unwavering self-belief when they confront raja casablanca of morocco1 the man deserves honour as he has done so much for nigerian football. i recall he has been with the team for the past 20 years and led them to two caf champions league titles they have won for nigeria1 following a scoreless draw in kigali a week earlier the aba outfit started appropriately as an alert augustine dimgba slotted into the visitors net after capitalising on a defensive error in the 13minute1 but bonfils caleb bimenyimana equalised from a close range effort 12 minutes later and the visitors were hopeful1 enyimba winners of the caf champions league title in 2003 and 2004 regained control in the 29minute as left back utin ikouwem finished brilliantly after picking up a loose ball1 two minutes after the re-start sunday adetunji made it three for the homers while joseph osadiaye making up for earlier misses scored the fourth in the 58minute to take the home team out of sight of the visitors1 not done yet enyimba kept the fire alive and isiaka oladuntoye scored the fifth goal in the 76minute1 the nigerians will host raja casablanca first winners of the caf champions league title in 1999 in the first leg of their semi-final fixture at the enyimba international stadium on oct. 3 with the return leg in casablanca three weeks later1

Luka Modric admits tax fraud, to pay 54,000 in exchange for prison
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el mundo reported the footballer would have to pay a total of 1.26 million 1.4 million if he wanted to wipe his slate clean with the spanish taxman for the years 2013 and 20141 real madrid star luka modric the latest to be caught by the spanish taxman has admitted two counts of tax fraud and accepted an eight-month suspended prison sentence as part of a plea bargain deal with prosecutors1 according to spanish newspaper el mundo modric would be given the chance to substitute the prison term for a fine totalling 54000 600001 the 33-year-old modric recently voted the 2018 world cups best player was accused last november of tax fraud of up to 870728 783.64 in image rights in 2013 and 2014 using a limited company based in luxembourg1 the company ivano s.a.r.l was named after his son ivano and managed by his wife vanja bosnia1 spanish tax authorities sought information from authorities in the isle of man as part of their probe into modric amid warnings it could accuse him of defrauding a higher amount1 but prosecutors decided after inquiries there was no basis to increase the penalty they were seeking1 cristiano ronaldo formerly of madrid lionel messi of barcelona former madrid coach jose mourinho and brazilian midfielder marcelo have all admitted various tax offences1 the payment would cover the amount defrauded a fine of 313450 48291 representing 40 per cent of the fraud and the fine substituting the prison term1 according to reports he had paid 900000 of the amount owed at the start of the criminal proceedings1 recent reports in spain have claimed he has also been fined 1.08 million 1.2 million for irregularities in his 2012 tax return which he is contesting but is being dealt with administratively rather than by way of criminal proceedings1 modric who signed for real madrid in august 2012 remains under the spotlight in his homeland over allegations he provided false information in the trial of former dinamo zagreb director zdravko mamic1 he was charged in march and is awaiting a trial date. liverpools croatian defender dejan lovren was charged with the same offence of perjury earlier this week as he was accused of giving false statements during mamics trial1 mamic once the most powerful figure in croatian football was sentenced to six-and-a-half years in prison in june after being found guilty of siphoning off millions of pounds in transfer fees1

Vote buying: Police arrest 2 PDP agents with cash
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the nigerian police have arrested two pdp agents out on a mission to buy votes in the course of voting in the osun governorship election1 the agents identified as adebayo rafiu and muraian latif were caught with a sack with the inscription senator isiaka adeleke free rice in iwo1 according to a post on the officialnpf twitter handle the bag contained n6400001 two 2 suspected vote buyers have been arrested by a team of police personnel on election duty at iwo lga of osun state and the sum of n604000 recovered from their possession. investigation is being intensified1 nigeria police force @policeng1 an update on the arrest said the men claimed they were given the money by their ward chairman to buy votes1 punch had earlier reported another pdp agent arrested for giving out money at a polling centre in ede the hometown of the pdp governorship candidate ademola adeleke1

Buhari leaves for UNGA73 tomorrow
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president buhari is also expected to seek support in re-settling internally displaced persons idps recharging the receding lake chad1 president muhammadu buhari will on sunday along with his wife aisha depart for new york to participate in the 73rd session of united nations general assembly unga73 which officially opened september 18 20181 the highpoint of president buharis participation will be his address on tuesday to the general assembly on the opening day of the general debate1 president buhari will be accompanied by governor godwin obaseki of edo state minister of foreign affairs geoffrey onyeama attorney-general and minister of justice abubakar malami minister of health isaac adewole minister of industry trade and investment okechukwu enelamah minister of budget and national planning udoma udo udoma and the minister of state for environment ibrahim jibrin1 others on the presidential entourage include the national security adviser maj. gen. babagana monguno rtd director-general national intelligence agency ahmed abubakar comptroller-general nigeria immigration service mohammad babandede and the acting chairman economic and financial crimes commission ibrahim magu1 the presidents presentation on tuesday of nigerias national statement is expected to reaffirm the nations commitment to international peace and security sustainable socio-economic development disarmament and denuclearisation youth and women empowerment climate change rule of law and human rights among others1 he is also expected to particularly canvass international support for the fight against corruption the return of illicit assets counter-terrorism and insurgency and curbing irregular migration1 the theme for this years session is making the united nations relevant to all people global leadership and shared responsibilities for peaceful equitable and sustainable societies1 another major issue he will raise is on the need to reset the united nations especially the expansion of the permanent membership of the security council to make that vital principal organ of the global organisation reflect regional and equitable geographical representation1 the president and his wife aisha will also attend a welcome reception hosted by the un secretary-general antonio guterres and his spouse for heads of state and government and their spouses1 the nigerian leader and his delegation will participate in a high-level meeting on the fight against tuberculosis organised by the world health organisation as nigeria currently ranks seventh amongst the high tb-burden countries globally and second in africa1 the nigerian delegation is expected to attend the mandela peace summit which is a high-level meeting on global peace in honour of the centenary birth of the late south african president and nobel peace prize winner nelson mandela1 other side-events lined up for the nigerian delegation include high-level meeting on financing the 2030 agenda for sustainable development world economic forums sustainable development impact summit the second annual bloomberg global business forum high-level meeting on action for peace-keeping commemoration and promotion of the international day for the total elimination of nuclear weapons high-level meeting on the third industrial development decade for africa and pathway to localising a globa1 during the course of his stay in new york in addition to the meeting with the un secretary-general the nigerian president is also expected to have bilateral meetings with african and world leaders including bill gates with a view to promoting national and african interests1 he will also grant audience to a select group of nigerian professionals based in the united states1

Omisore cries foul, Aregbesola praises INEC
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he also claimed that the card readers were malfunctioning in some polling units in ile-ife1 gov. rauf aregbesola of osun has commended the large turnout of voters in saturdays governorship election in the state and praised the independent national electoral commission for its smooth conduct1 the governor said the large turnout of voters and their peaceful conduct were signals about their desire to elect a leader of their choice1 i must commend the voters for conducting themselves in a peaceful manner and for coming out in their large numbers. this is the beauty of democracy he said1 but sen. iyiola omisore the governorship candidate of the social democratic party sdp lamented what he called irregularities in the conduct of the voting exercise1 omisore who spoke after voting at his moore ward 1 003 polling unit at 1125 am alleged that there were insufficient electoral materials in some polling units in osogbo1 aregbesola spoke after casting his vote at 1150 am at his ifofin ward 8 unit 1 polling unit in ilesa. he arrived the polling unit with his wife sherifat at 1138am1 nevertheless omisore urged the voters to exercise their civic responsibility by trooping out to vote1 he also urged the electorate to refrain from vote-selling saying they would be mortgaging their future1 the news agency of nigeria nan reports that there are 3010 polling units and 755 polling points spread across the three senatorial districts and 30 local governments areas of the state1 although there are a total of 1682495 registered voters over 400000 permanent voters cards remain uncollected as at friday1 nan also reports that while 48 parties are participating in the election gboyega oyetola of the all progressives congressapc ademola adeleke of the peoples democratic party and omisore of the social democratic party remain the frontline candidates1

I broke no law by dodging NYSC, says Adebayo Shittu
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nigerian tribune even reported that i left university in 1979 but in actual sense i left in 1978 and left law school in 19792 the minister of communications mr adebayo shittu has said that he did not violate the constitution by not participating in the compulsory one year national youth services corps nysc scheme2 the minister who is one of the all progressives congressapc governorship aspirants in oyo state spoke after being interviewed by the apc screening committee2 the news agency of nigerianan reports that the media had been awash with reports that the minister did not participate in the mandatory one year nysc program after his graduation from the university in 1978. the compulsory nysc programme began in 19732 former minister of finance adeosun resigned last week friday following allegations that she forged the nysc exemption certificate2 shittu stressed that whereas the former minister of finance submitted a fake nysc exemption certificate he didnt obtain any certificate2 he added that he considered his service at the oyo state assembly as a higher service. he said that he had not infringed on any law in the countrys constitution by skipping nysc2 the minister stated this while speaking with newsmen on friday in abuja arguing that his case could not be compared to that of the former minister of finance mrs kemi adeosun2 and the constitution says anyone who qualifies to contest an election or who has gone through an election and wins he is obligated to move through the house of assembly which i did for four years2 so it is a form of higher service as far as im concerned and even now i am still in service2 i dont think i have violated the law except someone has a superior argument and can prove itthe minister said2 he stressed that his case was not like that of adeosun because according to him there are differences2 unfortunately kemi had a fake certificate i didnt present any i didnt have one2 i simply followed the constitutional requirement that if you are qualified to contest an election it is compulsory for you to serve the nation in the capacity that you won an electionhe said2

Wolves hold Manchester United at Old Trafford, spoil Fergusons day
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on a day that legendary coach sir alex ferguson returned to old trafford after his brain surgery manchester united failed to lift his spirit1 they were held to a 1-1 draw by promoted wolverhampton wanderers leaving them eight points adrift of premier league leaders liverpool1 jose mourinhos side who had won their last two league games took the lead in the 18th minute through brazilian midfielder fred who drove home after a sublime short pass from paul pogba1 wolves had looked nothing like a promoted team playing confident and composed football and they got their reward with a finely worked goal1 helder costa got past luke shaw and slipped the ball back to raul jimenez who perfectly teed-up joao moutinho and the portuguese midfielder fired into the top corner1

Police confirm arrest of vote buyers in Osun
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the nigeria police have confirmed the arrest of three suspects for vote buying in saturdays osun governorship election1 the suspects are muriat olalekan hamzat muniru and adeagbo wasiu1 the force spokesman mr. jimoh moshood said on saturday in abuja that the suspects were allegedly arrested in the act of vote buying1 moshood said the arrest followed the deployment of operatives of igp monitoring unit and the intelligence response team of the force1 the spokesman said that the sum of n720 000 was recovered from the suspects1 he said investigation into the cases was ongoing and the suspects would be arraigned on completion of investigation. nan1

INEC warns against publishing fake results
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the independent national electoral inec has warned against announcing or publishing false election results as the collation of the osun governorship election results is underway1 the commission gave the warning on saturday through its twitter handle @inecnigeria1 it said that the official results would be available as announced by the election returning officer1 announcing or publishing a false election result is an offence1 it is a criminal offence punishable by a term of imprisonment1 the official osundecides2018 results will be uploaded on our platforms as declared by the returning officer the commission said1

Ebonyi youths march for Buhari
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the coordinator who also spoke on the alleged recall of ogbuoji by some group allegedly sponsored by politicians in the state described the exercise as a show of shame and an exercise in futility1 youths on the platform of coalition of ebonyi youths organisation on saturday embarked on a solidarity walk to mobilise the people for the re-election of president muhammadu buhari1 the group said its commitment to the projects were due to buharis outstanding performance and credible representation of ogbuoji1 the spokesman of the coalition mr eseni ukoh in an interview with journalists after the road walk said that buhari has demonstrated his ability to take nigeria to the next level1 what nigerians want is good and transparent governance that will stimulate economic growth and development to improve the standard of living of the people ukoh said1 the president promised to tackle insecurity corruption power unemployment improve infrastructure and agriculture and his achievements in these areas can be seen everywhere1 ogbuoji is the only aspirant among other aspirants from the various political parties that possesses the experience capacity and capability to wrest power from the ruling peoples democratic party in the state1 he is a sitting senator a former commissioner for economic empowerment and job creation and one time chairman of the old afikpo local government area1 his entry into the all progressives congress apc has helped to restructure and reposition the party and the evidence is what we are witnessing today1 we are appealing to both the national and state leadership of apc to give him the partys ticket and to let them know that no other aspirant that can deliver ebonyi people from bad governance than ogbuoji he added1 the youths 2019 buhari ogbuoji youth support network declared their support to the re-election of president buhari in 2019 and the election sen. sonni ogbuoji as the next governor of ebonyi in 20191 they are only being afraid of the senator because they know that he is the only person that has all it takes to oust the sitting governor1 these people are very jittery and that is why they have employed all sorts of devious laughable and anti democratic means to distract the senator1 there are processes to follow in recalling a serving lawmaker by his or her constituents and not at a political rally1 ogbuoji is the only credible experienced and competent person to lead the state and take ebonyi people from the shackles of heavy taxation political stagnation and general maladministration ukoh said1 the spokesman stressed that the coalition with membership drawn from across the 13 local government areas of ebonyi would not rest on its oars until buhari is re-elected in 2019 and ogbuoji emerged the next ebonyi governor1 the legislative assistant to ogbuoji mr ifeanyi ogba who spoke to the news agency of nigeria nan commended the youths for the solidarity march and urged youths to support the re-election of buhari and ogbuoji s gubernatorial aspiration1 this is not a political rally it is a road walk organised by a coalition of about five youths organisations to support the re-election of buhari and the election of ogbuoji as governor1 the road walk commenced from ishieke park at water works road through vanco and moved down to ogbuoji s campaign office along the abakaliki-enugu highway1 i commend the youths for the orderly conduct and the display of their zeal for a change in the governance of ebonyi in 2019. nan1

Vote buying soils Osun election, says Akinbade ADC candidate
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the former secretary to the state government who voted at his obas compound ward 3 polling unit 1 at 10.35am also said that the nations democracy was improving on all fronts1 by victor adeotiogbagba1 akinbade spoke to newsmen in ogbagba after the accreditation and voting exercise1 vote-buying has cast shadows on the governorship election. vote-buying had taken the shine off the electionhe said1 however he commended voters for ensuring a peaceful electoral process1 alhaji fatai akinbade the governorship candidate of the african democratic congress adc in the osun election says voting-buying has negatively affected the exercise1 by and large we are inching gradually to a convenient point in our polity1 everybody involved in this election should be commended the inec officials security agents electorate politicians and others1 at least reported cases of electoral violence are limited apart from the incidence of vote buying that dotted everywhere while the exercise lasted1 we just hope something will be done to it in organised electoral engagements in the future akinbade said1 the adc standard bearer appealed to the people of the state to remain peaceful and not promote violence after the release of the result1

Ribadu challenges governor Bindow
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he urged party officials to ensure level playing ground for all aspirants1 mallam nuhu ribadu has resolved to be an aspirant on the ticket of the all progressives congress apc to compete with adamawa governor muhammadu bindow for the 2019 election1 he told party official at the state secretariat on saturday in yola that bindow performed below expectation as such the apc needs a new face to make a difference1 give me the chance and opportunity to make the difference. our dear state is facing a number of developmental challenges that require urgent holistic and strategic handling1 we do not need cosmetics which do not address fundamental issues that are cornerstone to our development as a people. it takes visionary leadership with capacity and modern thinking to provide that needed redirection beyond deceptive makeup1 it is this much-needed leadership that i promise to offer to our people. i come with genuine intention and i have a burning passion to change the fortunes of our people for good1 with all sense of humility i believe i possess the requisite credentials both academic and character required to move this state forward. i will run an all-inclusive government where all stakeholders like you truly have stakes ribadu said1 ribadu said he decided to challenge bindow because the governor had not provided concrete service to the people1 as we move into the primaries what we require from you our party leaders is utmost level of responsibility by allowing free and fair contest1 we cannot afford to manipulate our party into failure. injustice can never stand. even if it does it would be on shaky foundations which can collapse at any time1 therefore skewing a process like the primaries to favour one person even though unpopular may only lead our great party to failure something no genuine party member would desire1 responding the adamawa apc chairman alhaji ibrahim bilal lauded ribadu for his commitment to the party and assured him and other aspirants of level playing field1 i want to assure you of free and fair primaries and the commitment of the party executives to fully support any candidate that emerge bilal said1 the news agency of nigeria nan reports that apart from ribadu and bindow another aspirant dr halilu ahmed is also seeking the partys endorsement to fly its flag for the governorship race. nan1

TCN boosts electricity to Auchi, Okpella
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it will serve okpella cement factory it will serve other people but we want to make sure we create jobs we create industries. it will bring relief to our people it will transform the economy of the state1 the transmission company of nigeria tcn on saturday commissioned new power transformers at okpella substation to boost electricity supply to edo north especially in major towns of auchi okpella and igarra1 tcn had also successfully installed 40mva at auchi 132 33kv substation1 the new installation at okpella was to improve on the old 1x15mva13233kv substation which had limited capacity to adequately supply electricity to okpella bua cement company aghenebode town and environs1 because of the limitation tcn awarded the contract for the reinforcement of the substation in 2012 to messers power control and appliances pca to add 160 mva1333kv transformer to increase the quality of supply in the area1 the chairman nigerian electricity regulatory commission nerc prof. james momoh commissioned the transformer in company of gov. godwin obaseki of edo1 he said communities in edo north had been experiencing poor electricity supply over the years1 he said that this had impacted negatively on the industrial development of the zone and the state in general1 the villages around here witness low voltage meaning there is no impact in development it cannot touch industrialisation that we want because the quality of supply is very low1 because we are unable to harness power industries cannot spring up in edo where we have all the vegetation we have all the minerals1 the lop-sidedness in supply made it very impossible for distribution to get to our villages1 he explained that the provision of the new additional power transformer in the substation was for the interest of the edo people adding that the okpella community must maintain and protect the facility1 the 1x60mva 13233kv power transformer would also service some major towns in estako and akoko edo local governments1 momoh who promised to ensure improved power supply in edo also commended tcn management and its in-house engineers for installing the power transformer1 tcn engineers have done many installations in the country they are saving money for nigeria1 responding obaseki said that the initiative of tcn had just ignited the starting of industrial revolution in the state1 we thanked tcn and nerc for what they are doing in the electricity industry. the issue of electricity supply was at the front burner during my campaign and you have help up spark up electricity supply via this initiative by increasing the capacity of the substation with over 300 per cent.1 he said that the state government would continue to support tcn in the discharge of its duties especially on resolving the onerous challenge of right of way on transmission lines1 he appealed to nerc to prevail on benin electricity distribution company bedc to improve its supply to customers saying that bedc was underperforming in the state1 the managing director of tcn mr usman mohammed said that the installation of the 60mva 13233kv in okpella was consistent with the industrial policy of edo government1 he attributed it to the existence of huge mineral deposits like limestone in the area1 he said that the installation would improve power supply to bua cement company aghenebode town igara and many other communities in the state. according to mohammed the installation of the 1x60mva at okpella substation will also increase the total wheeling capacity of tcn to 7124mw.1 he said that tcn would soon complete the installation of another 30mva on the station and re-conduct the benin irua auchi okpella and okene 132 substations1 he said that this would enable the optimum use of the capacity being installed on the okpella station1 we are adding 100mva at irua 150mva at benin and another 100mva at benin transmission station he said. nan1

Saraki is a dangerous person – Garba Shehu
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saraki is a dangerous person – garba shehu1

Skye Bank dead, Polaris Bank takes over
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indeed the banks performance has improved considerably compared to the pre-july 2016 era1 governor of central bank godwin emefiele disclosed this during a press briefing in lagos on friday. emefiele said the decision was reached following the inability of the owners of the bank to shore up the capital of the distressed bank which had earlier received a n350 billion intervention in july 20161 we wish to assure the banks shareholders and stakeholders of the commitment of its board and management working with the cbn to conclude various initiatives to achieve a positive turn around for the bank and deliver value to its stakeholders1 also the managing director and chief executive of nigerian deposit insurance corporation ndic alhaji umaru ibrahim said the option of a bridge bank was to ensure that the depositors of the bank are taken care of and deposits are not lost1 ibrahim said that the bridge bank would also ensure that there would be no job losses as polaris bank would retain all staff of the distressed bank under a new contract1 meanwhile the share price of skye bank on friday gained 4.05 percent at 77 kobo1 the stock is expected to be placed on suspension from monday in accordance with bridge bank procedures1 you will recall that on 4th july 2016 we took a regulatory action on skye bank nigeria plc. specifically this action led to the resignation of the chairman all non-executive directors on the board as well as the managing director deputy managing director and the two longest- serving executive directors on the management team1 at that time the proactive action was informed by unacceptable corporate governance lapses as well as the persistent failure of skye bank plc to meet minimum thresholds in critical prudential and adequacy ratios which culminated in the banks permanent presence at the cbn lending window1 the focus of the action then was to save depositors funds and to ensure that the bank continued as a going concern being a systemically important bank. part of our intention was also to stem the imminent job losses to staff if a liquidation option had been adopted. these objectives have been fully achieved and the bank has been able to meet customer obligations having curtailed the liquidity haemorrhage and restored depositor confidence1 polaris is a bridge bank set up in concert with ndic and amcon and the unveiling was a guarded secret until emefieles announcement in lagos today. according to emefiele the bridge bank polaris bank will be getting a single digit interest long term facility of n786 billion from the assets management corporation of nigeria amcon1 the result of our examinations and forensic audit of the bank has however revealed that skye bank requires urgent recapitalisation as it can no longer continue to live on borrowed times with indefinite liquidity support from the cbn. the shareholders of the bank have been unable to recapitalise it1 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 seamlessly1 thus all customers of skye bank shall be automatic customers of the new bank and their accounts and records duly purchased by polaris bank1 given the good performance of the board and management the cbn shall retain them. in addition all employees of skye bank shall be absorbed by polaris bank under a new contract unless any employee decides to opt out1 we wish to assure the general public that the nigerian banking industry remains safe and resilient and that the cbn will continue to live up to its responsibilities of promoting stability in the banking and financial system1 skye bank plc which has metamorphosed into polaris bank was a product of the merger of five legacy banks as a result of the banking industry consolidation and recapitalisation exercise of 2005. the legacy banks were prudent bank plc eib international plc bond bank limited reliance bank limited and co-operative bank plc1 following the merger the bank opened three west african subsidiaries in sierra leone gambia and guinea1 in 2014 the bank won the bid to acquire the 100 per cent ownership stake of asset management corporation of nigeria amcon in mainstreet bank limited a deal which made skye bank one of the top four banks in nigeria. but the move may also have undermined its books as the bank was taken over by the cbn in 20161 the defunct bank is quoted on the nigerian stock exchange nse with over 450000 shareholders1