November 03, 2014

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Ekiti: ‘Seven members to instal Speaker’ NEWS

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Newspaper of the Year

News APC: probe govt/Boko Haram deal P5 Sports Europe teams jostle for Quadri P24 Business Dangote to sell cement for N1,000 P5

•Nigeria’s widest circulating newspaper

VOL. 9, NO. 3021 MONDAY, NOVEMBER 3, 2014

•www.thenationonlineng.net

TR UTH IN DEFENCE OF FREEDOM TRUTH

Skye Bank pays N100b to complete acquisition of Mainstreet Bank

Soldiers shoot to disperse protesters in Burkina Faso

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URKINA Faso’s state TV went off air yesterday, shortly after gunshots were heard at its headquarters. Witnesses told the BBC that soldiers fired in the air to disperse protesters before forcing journalists to flee. Elsewhere in the capital, Ouagadougou, soldiers cleared thousands of demonstrators from a city square and barricaded the area. The army seized power on Friday after long-time leader Blaise Compaore quit following days of protests. The takeover brought global condemnation and prompted further protests. Continued on page 54

N150.00

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KYE Bank Plc at the weekend paid the 80 per cent balance for Mainstreet Bank’s shares, beating today’s deadline. Assets Management Corporation of Nigeria (AMCON) and investment banking industry sources confirmed the payment and the completion of the acquisition. Sources said Skye Bank paid

•Skye Bank MD Timothy Oguntayo

By Taofik Salako

N100 billion to AMCON on Friday as balance for the acquisition, which was valued at N120 billion. Skye Bank, on October 9, paid the mandatory deposit of 20 per cent for the acquisition, a deal that was valued at between N120 billion and N126 billion. The differential in the value was due to the variation

in the exchange rate base used by the various sources for the dollar-based value of the deal. The payment of the 80 per cent balance has fulfilled the terms of the Share Sale and Purchase Agreement signed by AMCON and Skye Bank. With the payment, Skye Continued on page 4

•INSIDE: ASUU SEEKS EDUCATION EMERGENCY P6 LAGOS SEALS 40 ILLEGAL DRUGS STORES P10

Tambuwal: House rejects plan to reconvene plenary Mu’azu, others mount pressure on PDP Reps

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EOPLES Democratic Party (PDP) leaders have embarked on some desperate measures to seize the House from Speaker Aminu Tambuwal. Party Chairman Adamu Mu’azu is set to meet today the party’s caucus in the House — in a move to get members’ support for a plot to impeach Tambuwal, who defected to the All Progressives Congress (APC). Besides, Deputy Speaker Emeka Ihedioha is under pressure to reconvene ple-

From Yusuf Alli, Victor Oluwasegun and Dele Anofi, Abuja

nary, which Tambuwal suspended till December 3. But the House warned yesterday that such a plan was illegal. In a statement, House spokesman Zakari Mohammed said the rule book is clear on reconvening the House. According to him, only the Speaker is empowered to reconvene the House after it has been adjourned for one reason or the other.

INSIDE

•Falana to police chief Abba: resign •NLC: restore Speaker’s security •Kwara governor, Akume slam IG •SEE •’PDP can’t get two-thirds’ PAGES •Buhari group asks IG to quit 2-6&56 The statement reads: "The House of Representatives adjourned sitting of its plenary on 28th of October to 3rd December 2014 to allow members of the House carry out pre PreBudget oversight activities in preparation for the 2015 Budget and also to meet the political calendar of all the political parties. "This adjournment was

unanimously approved by all the Principal Officers of the House without dissent and the motion was moved by Hon Mulikat- Adeola-Akande, the Majority Leader .The Speaker, Rt. Hon Aminu Waziri Tambuwal approved with the Gavel. "There has been intense media focus on this adjournment and media inquiries on the

appropriate procedure for reconvening of the House of Representatives from its Recess , if it becomes necessary. The following clarification has become imperative. "The procedure for reconvening or Re-Assembly of the House is contained in the House Standing Orders made pursuant to Section 60 of the 1999 Constitution of the Federal Republic of Nigeria, which empowers the House to regulate its own procedure, including the procedure for Summoning and Recess of the House. "Order V, Rule 18(2) of the Standing Orders of the House of Representatives provides as follows; “Whenever the House

stands adjourned either to a date fixed by Resolution or the Rules of the House, and it is represented by the Leaders of the Political Parties in the House to the Speaker that the public interest requires that the House should meet on an earlier or a later date or time than that on which it stands adjourned, the Speaker MAY give notice accordingly, and the House shall meet on the date and at the time stated in the notice.” "This means that the Leaders of all the political parties in the House, especially the Majority and Minority Leaders respectively, MUST consent before the representation is made to the Speaker Continued on page 4

Fed Govt to return Sanusi’s passport, seized salaries From Yusuf Alli, Abuja

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MIR of Kano Sanusi Lamido Sanusi is to have his impounded travel passport and withheld salaries, The Nation learnt yesterday. Besides, the Kano Central Prison is to be relocated for better security at the Emir’s palace. It is all as part of last Thursday’s reconciliation with President Goodluck Jonathan. The Presidency is beWHEN WILL THE lieved to have decided to CHIBOK GIRLS have a “total reconciliation KIDNAPPED ON with the Emir”.

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APRIL 15 BE FREED?

Continued on page 4

•From left: House of Representatives Speaker Aminu Tambuwal, Former Osun State Governor Olagunsoye Oyinlola, Governor Rauf Aregbesola STORY ON PAGE 8 and his wife Sherifat, during the Victory Colloquium for Aregbesola at Eko Hotel in Lagos...yesterday.

•POLITICS P17 •SPORTS P23 •JOBS P35 •CEO P37 •MOTORING P39 •FOREIGN P54


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