Reported Probe Of Sanusi, Soludo Untrue– Presidency

The Presidency has refuted social media reports that the tenures of Emir of Kano, Muhammadu Sanusi II and Prof. Charles Soludo, as Central Bank of Nigeria (CBN) governors, would soon be probed by the Federal Government.

The reports alleged that the Federal Government had concluded arrangements to probe the tenures of the two former CBN governors over their views on the state of the economy.

Malam Garba Shehu, the Senior Special Assistant on Media and Publicity to President Muhammadu Buhari, however, in a tweeted message, said the presidency was not aware that the Emir and Soludo would be probed for offering suggestions to the president.

“The check I made today indicated that the presidency is unaware of the reported probe of Sarkin Kano, Muhammadu Sanusi 11 and Prof.Soludo

“Where did that report come from? Under our constitution which President Muhammadu Buhari swore to uphold, it is not a crime to offer suggestions,’’ he said.

Credit: dailytrust

See Nigeria’s Total Debt As Reported By Debt Management Office

The Debt Management Office (DMO) has put the total profile of Nigeria at N64 billion, dismissing fear all the same that the debt overhang will affect the national economy. The Director-General of the Debt Management Office (DMO), Dr Abraham Nwankwo made this known in a submission he made to the Senate According to the submission he made to the Senate Committee on Foreign and Local Debts, the rising debt profile of the country will not affect the economy negatively.

He said the N1.2 trillion domestic borrowing and foreign loan of N635.88bn proposed in the Medium Term Expenditure Framework for the 2016 fiscal, was also healthy for the nation’s economy. He told the Senate that 84 percent of the entire debt profile of Nigeria was owed locally while the remaining 16 percent was foreign loan. He also said Nigeria needs the sum of $25bn per annum continuously for the next ten years in order to effectively tackle its infrastructural deficit. He explained that debts owed local contractors were not part of the domestic debts quoted because their details are under the purview of the budget office of the federation, and National Planning, because they are operational debts.

The DMO boss said local contractors’ debts arose from the activities of agencies, in terms of implementation of capital expenditures. He said, “Ordinarily if the implementation of the budget is followed in details, there is no reason why there should be local contractors debt because it is already in the budget. “We have been sensitising Nigerians that we need to do better because our tax GDP ratio is very low compared to countries in our debt role, their entire GDP ratio is about 18 percent whereas for Nigeria, it is about 6 percent which means that we are not being effective in collecting taxes to reflect the size of our economy.

Credit: DailyTimes

At Least 20 Reported Dead After Military Plane Crashes

At least 20 people have been killed in the military plane crash in the Indonesian city of Medan, CNN affiliate Trans 7 TV reported, citing local hospital officials. At least five people have been killed after a military transport plane crashed in an Indonesian city shortly after takeoff, authorities said Tuesday.

The C-130 Hercules aircraft went down with 12 people on board in Medan, the capital of North Sumatra province, said Indonesian military spokesman Maj. Gen. Fuad Basya. Local television broadcast images of people gathered around the plane’s burning wreckage in what appeared to be a residential area.

Basya said it was unclear whether the five bodies that had so far been recovered were all of people who had been on the plane. He said the aircraft, built in the United States in the 1960s, had been inspected and cleared to fly before it took off from Soewondo Air Force Base. The crash site is about 5 kilometers (3 miles) from the air base, he said.