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US: why Boko Haram is not terrorist group
Arik suspends flights after airport protest
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NEWS
Page 59
•Airline alleges personal demands
•Anti-Islam film protest in Zaria
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VOL. 7, NO. 2255 FRIDAY, SEPTEMBER 21, 2012
TR UTH IN DEFENCE OF FREEDOM TRUTH
ONDO 2012
N150.00
•AND MORE •We’re ready, say INEC, police ON PAGE 7 •ACN youths plan forum with Akeredolu •Group hails suspension of PDP leaders •Lawyer: Mimiko on journey to nowhere
Governors return Excess Crude Account battle to Supreme Court
G
OVERNORS are back at the Supreme Court over their disagreement with the Federal Government on the Excess Crude Account. The move for an out-ofcourt settlement between the two parties has failed again. The Supreme Court had advised the parties to seek an out-of-court settlement
From Vincent Ikuomola, Abuja
as the governors challenged the Federal Government’s deduction from the Excess Crude Account, which they are urging the apex court to declare as illegal. At a meeting on Wednesday the Nigeria Governors’ Forum resolved that the states should return to the Supreme Court. But the National Economic
Council (NEC), the country’s highest economic organ chaired by the Vice President with governors as members, yesterday advised the governors to choose dialogue. The Supreme Court advised the parties to reach a truce by September or it will rule on the matter. Rivers State Governor Rotimi Amaechi, who is the Forum’s chair, said “the gover-
nors have decided to head back for the court to enforce the Federal Government’s adherence to the Constitution”. He read the communiqué of the meeting. Some of the Governors at the meeting are: Kayode Fayemi (Ekiti), Babatunde Fashola (Lagos), Ibikunle Amosun (Ogun), Murtala Nyako (Adamawa), Danbaba Suntai (Taraba), Adams Oshi-
omhole (Edo), Sullivan Chime (Enugu) and Abdulfatai Ahmed (Kwara). Many states were represented by their deputy governors. In all, 20 states were represented. The decision may also endanger the Sovereign Wealth Fund (SWF) set up by the government to replace the account. SWF, like its predecessor, is facing some challeng-
es as the governors are skeptical about its operations. The account was created by former President Olusegun Obasanjo’s administration in 2004 to act as a buffer during low oil prices. The account was to save money in excess of the budgeted benchmark price of crude oil. Continued on page 61
Jonathan stops N5000 No contracts yet, says CBN NBA: address Nigerians’ fears From Vincent Ikuomola and Kamarudeen Ogundele, Abuja
T
HE N5,000 banknote battle is over - for now- with opponents of the plan carrying the day. President Goodluck Jonathan yesterday bowed to pressure and suspended the proposed introduction of the N5000 banknote. He advised Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi to step down the idea to allow for adequate consultation with the people. The National Economic Management Team and a few other bodies and individuals, especially in government, supported the move. But many Nigerians, including the National Assembly, opposed the idea, saying it will breed corruption and boost inflation – the very ills the CBN said it would tackle. The Senate and the House of Representatives on Tuesday kicked against the idea. President Jonathan later met with Senate President David Mark and House Speaker Aminu Tambuwal, who both stood by the decision, insisting that they were merely ventilating the feelings of the majority of Nigerians.. “We are stepping it down for now,” presidential spokesman Reuben Abati said last night. SEE Abati added: “The introducis being suspended for now ALSO tion to enable the CBN do more enPAGES lightenment on the issue. Presi-
2&3
Continued on page 4
•Houses submerged by River Niger on Ganaja Road in Lokoja due to release of water from Lagdo Dam in Cameroon…yesterday
PHOTO: NAN
Floods of fury in Edo, Benue, Kogi, Ebonyi PAGES 56-58
•NEWS EXTRA P17 •SPORT P23 •SOCIETY P25 •BRAND P29 •POLITICS P43