President Muhammadu Buhari and some top security agency heads are currently meeting at the Presidential Villa, Abuja.
According to reports, those at the closed-door meeting include the Inspector-General of Police, Mr Mohammed Adamu; National Security Adviser, Maj.-Gen Babagana Monguno (rtd) and the Director-General of the National Intelligence Agency, Ahmed Rufai-Abubakar.
It is not yet certain what the agenda of the meeting is, but sources hinted that the discussions may centre on general security situation in Nigeria and the handling of recent tension in the country over the xenophobic attacks on Nigerians in South Africa.
The President had earlier held another meeting with Major-Gen. A. B. Mamman (rtd).
JUST IN: Osinbajo presides over National Economic Council meeting
Vice President Yemi Osinbajo on Thursday presided over the monthly National Economic Council (NEC) meeting at the State House, Abuja.
In a tweet by Mr. Laolu Akande, the spokesperson to Prof. Osinbajo, NEC is the constitutional body that advises the President on the coordination of the economic affairs of the country.
He noted that state governors, the Central Bank of Nigeria Governor, Mr. Godwin Emefiele and some members of the Federal Executive Council were in attendance.
“Vice President Yemi Osinbajo is now presiding over the monthly National Economic Council, NEC meeting with state governors, CBN governor and some members of the FEC,” he tweeted.
He then added that: “NEC is the constitutional body that advises the President on the coordination of economic affairs of the Nigerian federation.
“NEC under the leadership of Prof Osinbajo between 2015 to April 2019 passed 173 resolutions in 38 meetings.
“Some of the resolutions include the approval of $650 million seed funding as the Federal Government established Presidential Infrastructure Development Fund.
“NEC also approved Community Policing in Nigeria as well as synergy among security agencies in a bid to improve intelligence gathering and end internal security crisis which included kidnapping.
“The Council approved the National Transformation Livestock Plan (NLTP) which was launched by the Vice President in Adamawa on September 10.
“NEC under Osinbajo’s leadership approved Micro, Small and Medium Enterprises (MSME) clinics to help MSME with loans, materials and to make the process of doing business easy.”
Court winds up P&ID, Nigerian affilliate, orders forfeiture of firms’ assets to FG
The Federal High Court in Abuja on Thursday convicted and subsequently ordered the winding up of Process and Industrial Development Limited and its Nigerian affiliate, P&ID Nigeria Limited, for charges of fraud and tax evasion in respect of the contract leading to the recent controversial judgment of a British court empowering the firm to seize about $9.6bn worth of Nigerian assets.
Justice Inyang Ekwo, in his judgment also ordered the forfeiture of “the assets and properties” of the two firms to the Nigerian government.
The judge made the orders shortly after the two firms, through their representatives, pleaded guilty to the 11 counts instituted against them by the Economic and Financial Crimes Commission (EFCC).
While P&ID Limited incorporated in British Virgin Island was represented in the dock by its Commercial Director, Mohammad Kuchazi, P&ID Nigeria Limited was represented by Adamu Usman, who is also a lawyer.
Both men pleaded guilty on behalf of the companies to all the 11 counts read to them before Justice Ekwo on Thursday.
Kuchazi was represented by his lawyer, Dandison Akurunwua, while Usman represented himself.
They were accused of among others, fraudulently claiming to have acquired land from the Cross River State Government in 2010 for the gas supply project agreement which led to the $9.6bn judgment.
After the defendants pleaded guilty to the 11 counts, an EFCC investigator, Usman Babangida, was called to the witness box for review of facts which was not opposed by the defence.
The judge then went on to pronounce the two firms represented by the two men guilty.
Wrestling: Nigeria’s Adekuoroye qualifies for Tokyo 2020
Nigeria’s Odunayo Adekuoroye (57kg) is through to the semi finals of the 2019 Senior World Wrestling Championships in Kazakhstan after dismantling In Sun Jong of North Korea 12-2 via technical superiority.
She has qualified for the Tokyo 2020 Olympics as a result.
Security operatives at SaharaReporters’ Lagos office
Policemen and soldiers are currently in front of the office of online news media outlet, SaharaReporters, in Lagos state.
The armed men have prevented reporters from gaining access to the building located at GRA in Ikeja, the state capital.
The publisher, Omoyele Sowore, is currently with the Department of State Services (DSS) over allegations of plotting trouble through his ‘Revolution Now’ campaign.
More details later…
Oil prices surge after attack on Saudi facilities
Oil prices surged on Monday after two attacks on Saudi Arabian facilities on Saturday knocked out more than 5% of global supply.
Brent crude jumped 10% to $66.28 a barrel, while West Texas Intermediate rose 8.9% to $59.75 in Asian trading.
Prices pulled back slightly after US President Donald Trump authorised the release of US reserves.
The strike, which the US blames on Iran, has sparked fears of increased risk to energy supplies in the region.
The drone attacks on plants in the heartland of Saudi Arabia’s oil industry included hitting the world’s biggest petroleum-processing facility.
It could take weeks before the facilities are fully back on line. State oil giant Saudi Aramco said the attacks cut output by 5.7 million barrels per day.
Jeffrey Halley, senior market analyst at Oanda said the price spike across oil markets was a reaction to the “political and geopolitical implications” of the attacks.
“The bigger issue is just how secure is Saudi’s infrastructure from attacks?,” Mr Halley said.
US Secretary of State Mike Pompeo said Tehran was behind the attacks. Iran accused the US of “deceit.”
Later Mr Trump said in a tweet the US knew who the culprit was and was “locked and loaded” but waiting to hear from the Saudis about how they wanted to proceed.
The Saudis have not gone into any detail about the attacks, barring saying there were no casualties, but have given a few more indications about oil production.
Energy Minister Prince Abdulaziz bin Salman said some of the fall in production would be made up by tapping huge storage facilities, reports the BBC.
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