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THE

DAILY

TIMES

NIGERIA INDEPENDENT NEWSPAPER. EST. 1926 WWW.DAILYTIMES.NG https://plus.google.com/+DailytimesNgr/posts

NSE QUICK BITE

dailytimesng

Suspension: How Ndume incurred Senate’s wrath

Olufemi Samuel, Abuja

ÏÏÏ The

Senate on Wednesday wielded a big stick against its former Leader, Muhammed Ali Ndume, placing him on six-month suspension with immediate effect. It would be the second offensive the Senate launched against Ndume, the first being when he was removed as the Senate Leader ostensibly on the strong stance he has been taking on national issues.

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Continued on page 7

THURSDAY, MARCH 30, 2017 VOL. 3. NO. 331

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GAINERS AS AT March 29, 2017 7UP

Ndume began to get into trouble with the Senate leadership over his pro-executive stance most especially his open eagerness to defend the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu The former Senate Majority Leader is believed to be close to President Muhammadu Buhari while the Senate leadership felt

14.59

LOSERS AS AT March 29, 2017 4.29%

WAPCO

41.01

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-2.71%

Legislative/ Executive face-off:

FEC sets up panel to interface with NASS

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Strong indications have emerged that recent improvement in power sector may be short-lived as the management of Egbin Power have threatened to shut down operations due to non-settlement of N100 billion debt, inadequate gas supply and inefficiency in operations of the Transmission Company of Nigeria (TCN).

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Tony Ailemen Abuja

ÏÏÏ

Federal Executive Council on Wednesday said it has constituted a high powered committee headed by Vice President Yemi Osinbajo to interface in the rift brewing between the Executive and Legislature. The committee which is being headed by the Vice President Yemi Osinbajo will have all ministers who are former National Assembly members, the president’s National Assembly liaison officers and members who have relationship with the lawmakers as members. This was part of the far reaching measures taken on Wednesday at the weekly Federal Executive Council meeting presided over by President Continued on page 6

6 Magu: Senate summons Sagay over ‘derogatory remarks’

Power crisis looms as Egbin threatens shutdown over N110bn debt ÏÏÏ

FO

Contaminated table water: NAFDAC 12 sued over failure to release laboratory Customs denies linking ownership of seized vehicles to 6 Senate Alleged N1.4bn fraud: Peace Corps boss gets N10m bail 12

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OpeOluwani Akintayo

N150

Speaking to The Daily Times, Managing Director, Egbin Power Plc, Dallas Peavey, on Wednesday, said that the country is heading towards another blackout by next week as liquidity, transmission and gas supply issues threatened its operations. Peavey made the disclosure against the backdrop of drop in generation. He said that the plant was being forced to gradually shutdown

due to adverse effect of grid instability that endangers its turbines. Peavey said that another challenges was the inadequate gas supply to generate at optimal capacity as well as the huge debts owed the company by Federal Government owned Nigerian Bulk Electricity Traders (NBET) and Market Operator. According to him, Nigeria’s electricity supply may get worse Continued on page 12


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