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Al-Qaeda: Nigerian to face trial in U.S. NEWS Page 6
•Court okays suspect’s extradition
Lagos explains Lekki Road takeover NEWS Page 8
•‘People’s interest paramount’ www.thenationonlineng.net
VOL. 8, NO. 2590 THURSDAY, AUGUST 29, 2013
TR UTH IN DEFENCE OF FREEDOM TRUTH
N150.00
Goldman Sachs, others to manage Sovereign Wealth Fund
T
•Mrs. Okonjo-Iweala
HE Nigeria Sovereign Investment Authority (NSIA) has appointed Goldman Sachs, Credit Suisse and UBS as asset managers for its Stabilisation Fund. A statement from the NSIA quoted Mr. Uche Orji, Managing Director and Chief Executive Officer of the Author-
From Nduka Chiejina, Abuja
ity, as stating that “UBS was selected to manage the US Treasury Bond portfolio and that Goldman Sachs and Credit Suisse were selected to manage the investment grade US corporate bond portfolio.”
The initial Benchmark is a blend of 25 per cent Barclays 1-3 year US Treasury Bonds and 75 per cent Barclays 1-3 year US Corporate Bond Index. The Stabilisation Fund, the statement noted, is intended to act as a buffer against short-term macro- economic
instability. As such, “the Fund’s assets will be invested conservatively, with capital preservation in nominal terms being of primary importance.” Given the short- term nature of the Fund’s potential liabilities, the Fund, the NSIA said, is restricted to in-
vesting in investment grade sovereign and corporate fixed income assets. Orji said the selection of the three foreign banks “follows a comprehensive process of review and evaluation of world class candidates for this mandate”. Continued on page 2
•FED GOVT APPROVES N290M FOR TEST ON THIRD MAINLAND BRIDGE
P7
Suntai sacks SSG, Chief of Staff, commissioners Governor thanks all in broadcast after meeting with Assembly members
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ARABA State Governor Danbaba Suntai spoke last night to the people of the state — his first since he arrived from a 10-month overseas medical trip. He praised them for their prayers which, he said, enabled him to recover fast. The governor’s address was broadcast on the Tara-
versary. The state turned 22 on Monday. ba Television (TTV) during the Suntai also urged the people 7pm news. It was short. to continue to live in peace. Suntai, who had earlier disHe said: “I congratulate you solved the executive council, on our 22 years anniversary as wore a sky blue suit with a a state. We are indeed a great striped shirt. He had no tie. state and we shall become Suntai sat reading greater. from a script. He conSEE ALSO “I thank you all for gratulated the people your support on the state’s anni- PAGES 4&5 throughout my moFrom Fanen Ihyongo, Jalingo
Security intercepts plot to disrupt PDP convention
ment of crisis. Thank you for your love, patience and understanding.” There was jubilation on the streets of Jalingo after the governor spoke on television. People were singing and dancing as music blared from loud speakers. Suntai’s campaign poster when he sought reelection in 2011 were being waved by some excited sup-
porters. The governor reportedly inaugurated the newly appointed Secretary to the State Government (SSG) and the Chief of Staff. Chief Press Secretary to the Governor Hassan Majjiyawa said the leadership of the House of Assembly also met with the governor last night. Speaker Haruna Tsokwa
could not be reached for comments, but Mijinyawa said the Speaker said their conversation with Suntai was “meaningful”. Tsokwa had earlier said that the House leaders were prevented from seeing the governor. Suntai’s arrival and “return to work” has sparked Continued on page 2
REMEMBERING MARTIN LUTHER KING’S ADDRESS
•‘Inciting’ posters, pamphlets seized •Screening of candidates tomorrow
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ARELY four days to the Special National Convention of the Peoples Democratic Party (PDP), security agents have intercepted a plot by some aggrieved members to disrupt the convention. Besides, the agents have uncovered some “inciting” posters and pamphlets. Two suspects were being quizzed yesterday on the alleged plot. The suspects were said to belong to a new pressure group in the party, PDP Peace and Justice Movement. According to a source, the agencies are probing alleged plans to mobilise 10,000 protesters to the Eagle Square, Abuja to draw attention to some issues causing crises in the party. It was learnt that the ag-
From Yusuf Alli and Gbade Ogunwale, Abuja
grieved members were planning to demand power shift to the North in 2015. Some of the inscriptions on the posters read: “Gentlemen always stick to agreement”; “Agreement is agreement”; “Power should go to the North in 2015”; “Injustice anywhere is a threat everywhere”; and “Let’s support peace and justice”. The source claimed that one of the inciting pamphlets is signed by Mallam Abdullahi Maibirgi, who is the National Co-ordinator for the group. The pamphlet said: ”PDP Peace and Justice Movement demands peace in our highly cherished party. For peace to exist, there must be justice .... (and) justice in this context means granting the North the
Continued on page 2
•United States President Barack Obama talks with Yolanda Renee King while her father Martin Luther King III (right) and mother Arndrea Waters (second right) watch after speaking at the Lincoln Memorial on the National Mall in Washington…yesterday
•SPORTS P24 •EDUCATION P25 •N/HEALTH P45 •E-BUSINESS P47 •POLITICS P49