The newspaper headlines for Monday, March 12, focus on the warning the army gave to killer herdsmen in parts of the country among other stories.
The Nigerian Army has said it is taking serious steps to stop, identify and arrest all suspected herdsmen responsible for the violence being carried out in parts of the country.
The Nation reports that the army spokesman, Brig Gen Texas Chukwu, in a statement warned the killers to stop their evil act or face decisive action by troops. The military also warned that commanders who fail to act decisively would face court martial.
The Nation newspaper for Monday, March 12, photo credit: snapshot from Naij.com
"We would like to unequivocally reiterate that the Army Headquarters warns the arsonists and the killers to stop or face decisive action by troops.
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“Our Rules of Engagement (ROE) are clear on arson and murder. Therefore, no such criminal acts would be allowed in any of the aforementioned states.
The public is please reminded that when troops are called out for internal security operations, they are not to joke or persuade anyone.
“We have warned our commanders on the ground to take decisive actions or face court martial,” the army spokesperson said.
Meanwhile, the deputy president of the Nigerian Senate Ike Ekweremadu has denied suggestions that he called for a military coup d’état in Nigeria.
Guardian reports that the lawmaker said his words on the floor of the upper house of legislature were quoted out of context.
The Guardian newspaper for Monday, March 12, photo credit: snapshot from Naij.com
Ekweremadu was said to have made the denial on Saturday, March 10, in the oil-rich Bayelsa state.
He was attending a dinner hosted by state governor, Seriake Dickson for him and executive members of Commonwealth Parliamentary Association (Africa Region).
At the dinner, Ekweremadu claimed that he never made any derogatory remarks against the Nigerian military, which he says remains one of the best fighting forces on the continent.
In another report, the minister of finance, Kemi Adeosun has said the government has made amendment to the excise duty rates for alcoholic beverages and tobacco products.
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The Punch reports that Adeosun in a statement issued on Sunday, March 11 in Abuja, said the president had granted a grace period of 90 days (three months) to all local manufacturers before the commencement of the new excise duty regime.
The Punch newspaper for Monday, March 12, photo credit: snapshot from Naij.com
The minister said that there would be no increase in excise duty of other locally produced goods.
She stated that the new excise duty rates were spread over a three-year period from 2018 to 2020 in order to moderate the impact on prices of the products.
“The Tariff Technical Committee recommended the slight adjustment in the excise duty charges after cautious considerations of the government’s fiscal policy measures for 2018 and the reports of the World Bank and the International Monetary Fund’s Technical Assistance Mission on Nigeria’s Fiscal Policy.
“The effect of the excise duty rates adjustment on trade and investment was also assessed by the Federal Ministry of Trade and Investment and it adopted the recommendations of the TTC.
“Furthermore, peer country comparisons were also carried out showing Nigeria as being behind the curve in the review of excise duty rates on alcoholic beverages and tobacco,” the minister said.
In other news, the Nigeria Deposit Insurance Corporations (NDIC) has accused Deposit Money Banks in the country of hiding cases of fraud from industry regulators.
Vanguard reports that the head, communications and public affairs (NDIC) Mohammed Ibrahim, in a statement, on Sunday, March 11, said the NDIC will investigate some banks for the inadequate rendition of returns to the corporation on instances of fraud.
Vanguard newspaper for Monday, March 12, photo credit: snapshot from Naij.com
Part of the statement said: “Sections 35 and 36 of the NDIC Act No. 16 of 2006 (as amended) requires all Deposit Money Banks, DMBs, to submit monthly information/returns on fraud and forgeries to the Corporation.
“The NDIC made the decision in the light of the most recent report from its Off-Site Supervision of the DMBs, which revealed the number of fraud cases attributed to internal abuse by staff of banks increased from 231 in 2016, to 320 in 2017, or 38.53 percent above the figure reported for the previous year.
“The report relied on a total of 286 responses received from 26 banks during the period. There were 22 NIL monthly responses from the banks as at year ended December 31, 2017. "
Meanwhile, Nigeria’s external reserves have hit a five-year high of $46 billion representing an increase of 18 per cent or $7 billion over the country’s reserves figure of $38.912 billion as of January 2, 2018.
This Day reports that the rise followed the success of the $2.5 billion Eurobond issue by the federal government recently coupled with higher oil production and prices.
Newspaper headlines for Monday, March 12
The newspaper stated that the external reserves surpassed the $40 billion target for 2018 announced by the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, last November, and is expected to inch up to $50 billion in the next few months.
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Source: Naija.ng