According to him, the government still has an option of making amends for the shortfalls in the process.

[contextly_sidebar id=”OUITIm9g2bNOF2hbkU8IsIzCClFg52Ov”]“Given the fact that government had given a certain period within which it will do the whole bond issue, one will be very careful to say it is a total failure because there is an option for them to go to the market to determine the market conditions. But given the indications that we received earlier, and government’s own confidence that the bond will be more successful and what we have, then it fell short of our expectations and that is a fact,” he said in an interview on Eyewitness News on Thursday.

Prof. Bokpin also said he believes it would have been more appropriate for the government to issue the bond as a sovereign bond rather than a corporate bond.

“My considered view is that given this circumstance, it would have been more preferable for government to go for a sovereign bond rather than a corporate bond. What we are trying to do is that, we want to keep our debt to GDP ratio within the target for the year and for next year, but at the end of the day, this special purpose vehicle is fully backed by government…. One school of thought can easily classify this energy bond typically as a public debt even though Ghana government will say it is not… In terms of strategy, we will not say the government was totally wrong,” he added.

Government issued a ten year and seven year bond with the aim of getting GHc6 billion to offset the legacy debts of the energy sector, which was about GHc10 billion.

But in all, a total of GHc4.69 billion was realized even after a seven day extension period.

The 7-year component raked in 2.4 billion cedis as targeted, at an interest rate of 19 percent.

However, the 10 year bond failed to hit the 3.6 billion cedis mark.

Minority chide gov’t over energy bond

The Minority at a press conference on Wednesday accused the government of causing financial loss to the state, claiming that administrative processes cost the country ghc177 million.

According to them, the below GHc 6 billion yield was a solid basis for the Finance Minister, Ken Ofori-Atta, to be hauled before the House to explain why investment advice from places such as the IMF among others was ignored.

They also accused government of breaching the constitution because they did not seek the approval of Parliament before issuing the bond.

But a Deputy Minister for Finance, Kwaku Kwarteng, has explained that, the bond struggled because of the low-interest rate of 19%, saying the investors wanted more, but the government was not willing to go beyond 20%.

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By: Jonas Nyabor/citfimonline.com/Ghana

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The military needed to “fortify” the city, which had a population of more than two million, to prevent an assault “from all directions”, they said.

The Boko Haram militants had “annexed” areas that were about 50km (30 miles) from Maiduguri, they said.

Boko Haram declared a caliphate in areas it controls last month.

The government has not yet commented on the statement issued by the Borno Elders Forum (BEF).

‘Annihilation’

It represents influential people in the state, including former government ministers and civil servants.

“We are convinced that the Federal Government of Nigeria has not shown sufficient political will to fight Boko Haram and rescue us from the clutches of the insurgents which may ultimately lead to the total annihilation of the inhabitants of Borno,” BEF said.

“The insurgents have rendered impassable almost all the roads leading to Maiduguri,” it added.

BEF said the military needed to “urgently fortify” the city.

“The insurgents have surrounded Maiduguri and are nursing the ambition of attacking the city from all directions,” BEF said.

“There is credible local intelligence information to that effect. We must be pro-active. Maiduguri is heavily pregnant with people who have trooped into it hoping for safety,” the elders added.

Boko Haram’s five-year insurgency is seen as the biggest threat to Nigeria’s territorial integrity since the 1967-70 civil war, analysts say.

The group has changed tactics in recent months, holding on to towns in the north-east, where most people are Muslims, rather than carrying out hit-and-run attacks.

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Source: BBC

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World governing body Fifa issued the ultimatum,  reiterating that it does not recognise his election on 26 August.

The ban will only be lifted when the NFF board as it stood on 25 August, with Aminu Maigari as president, are allowed back to their offices to work.

Fresh elections for a new NFF committee must then be held as soon as possible.

The final deadline was decided by Fifa’s emergency committee on Wednesday after an initial date of 1 September passed without Giwa stepping aside.

If the ban comes into force on Monday it means the African champions would not be able to play their Africa Cup of Nations qualifier on 10 September in South Africa.

The Confederation of African Football says if the Super Eagles miss that match they would be disqualified from the qualifying campaign.

Nigeria were banned from global football for nine days in July for government interference in the running of the football federation when Maigari was forced out of his post by a court ruling.

After his reinstatement, he was voted out of office by the NFF’s executive committee a few days later. However, Fifa did not accept this and Maigari was once again back as president in August.

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Source: BBC Sport

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The Nigerian, 16, won weightlifting gold with a combined total of 196kg in the women’s 53kg category.

The Commonwealth Games Federation says it will meet on Friday to determine her punishment following her positive ‘B’ sample test.

Amalaha was provisionally suspended from the Games after an ‘A’ sample was found to contain banned substances.

The samples contained amiloride and hydrochlorothiazide, which are both prohibited as diuretics and masking agents.

After confirming the positive test, CGF chief executive Mike Hooper said: “I can’t and won’t speculate on what the outcome might be.

“We have a robust process in place that must be followed to ensure fairness to all.”

Amalaha was the first athlete to fail a test at the Games, but Welsh 400m hurdler Rhys Williams and 800m runner Gareth Warburton both missed the competition after being charged with anti-doping rule violations.

Both athletes deny knowingly taking any banned substance.

The World Anti-Doping Agency recommends a standard two-year ban for a first doping offence.

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Source: BBC Sport

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The 25-year-old, who won Monday’s 100m, claimed victory in 22.25 seconds.

The two English sprinters ran personal best times, as did their compatriot Anyika Onuora, who took fourth.

England’s Jazmin Sawyers won silver in the women’s long jump but Shara Proctor had to pull out after picking up an injury attempting her first jump.

Sawyers, a Winter Youth Olympic games silver medallist in the bobsleigh, recorded a distance of 6.54 metres to finish second behind Nigeria’s Ese Brume.

There were tears for Proctor, though, who pulled up halfway down the runway holding her left thigh, and was unable to continue.

Jodie Williams and Bianca Williams shed tears of a different kind by claiming respective silver and bronze in the 200m.

The former, a 20-year-old who won silver in the 2010 World Junior Championships, ran 22.50secs to finish just 0.08 ahead of her 21-year-old team-mate.

In the men’s 200m, Jamaica swept the medals, with Rasheed Dwyer taking gold in 20.14, ahead of Warren Weir and Jason Livermore.

Two more Jamaicans, Kaliese Spencer and Janieve Russell, won gold and bronze respectively in the women’s 400m hurdles, but the Hampden Park cheers were reserved for home favourite Eilidh Child, who took silver.

South Africa’s Cornel Fredericks won the equivalent men’s event in a time of 48.50, seeing off the challenge of Trinidad and Tobago’s Jehue Gordon, who took silver, and Jeffery Gibson of the Bahamas, who claimed bronze. England’s Niall Flannery was fourth.

Botswana’s Nijel Amos produced a stunning run down the final straight to beat Kenyan David Rudisha to 800m Commonwealth gold.

Six-time Paralympic champion David Weir put in a majestic display to win his first Commonwealth gold medal in the men’s T54 1500m, while fellow English athlete Jade Jones won her first senior medal with bronze in the women’s T54 1500m.

England’s Jessica Judd claimed a superb victory in the second semi-final of the women’s 800m.

She was joined in Friday’s final by compatriot Jenny Meadows and Scotland’s Lynsey Sharp, who were a disappointing fourth and fifth respectively in the first semi, but qualified courtesy of being the fastest losers.

Scotland’s Emily Dudgeon narrowly missed out on qualification despite finishing fourth in her semi.

India’s Vikas Shive Gowda won the men’s discus with a throw of 63.64, with Cypriot Apostolos Parellis taking silver and Jason Morgan of Jamaica claiming bronze.

Jamaica cleaned up in the men’s 200m

Okagbare (right) was just short of her own personal best in her run in Glasgow

Child, who also won silver in Delhi four years ago, ran a strong race and came home in 55.02 seconds.

England’s Jade Jones (right) is mentored by Baroness Tanni Grey-Thompson

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Source: BBC Sport

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Following an executive committee meeting on Wednesday the national body announced in Abujathat a three-man body set up to negotiate the terms of an improved new deal with Keshi had concluded its work.

The new NFF leadership headed by acting president Mike Umeh has consequently been mandated to finalise details of the reengagement of the coach in the shortest possible time.

There had been doubts that Keshi would be retained after leading the African champions to the Round of 16 at the World Cup. His contract had expired after the global tournament and the NFF – under the leadership of the recently impeached Aminu Maigari – did not offer him a renewal.

The development irked Keshi and led him to resign from the post with reports indicating that he was heading over to South Africa to take over the national team.

However the Bafana job went to South African Eprahim Mashaba, leaving the Super Eagles post as Keshi’s most attractive option.

The former Nigeria skipper has been coach of Nigeria since November 2011. He won the Africa Cup of Nations in 2013, becoming only the second man to win the competition as player and coach.

He also became the first African coach to lead a team to the knockout stages of the World Cup – a feat he achieved with Nigeria in Brazil this summer.

The 52-year-old is expected to receive $44,000 in monthly wages going forward, up from the $30,000 he earned in his former contract.

Meanwhile as part of the terms of reconciliation that paved the way for the resolution of the recent NFF crisis that led to the suspension of Nigeria by FIFA, the body’s exco constituted a five-man committee to review the bans on some officials.

The committee, which has three days to do its work, is headed by Effiong Johnson also has Shehu Adamu, Ayodeji Tinubu, Dilichukwu Onyedinma and Suleiman Yahaya-Kwande as members, with Christian Emeruwa will serve as secretary.

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Source: AfPl

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The 16-year-old Amalaha provided an ‘A’ sample on July 25 – shortly after winning the women’s 53kg category – which revealed traces of diuretics and maskings agents.

Amalaha will have a ‘B’ sample tested at a laboratory in London on July 30.

Commonwealth Games Federation chief executive Mike Hooper said: ‘We [have] issued a formal notice of disclosure to an athlete following an adverse analytical finding as a consequence of an in-competition test.

‘That athlete is Nigerian weightlifter Chika Amalaha who was tested on July 25th. That athlete has now been suspended from the Commonwealth Games in Glasgow.’

Hooper added: ‘[the substances] are diuretics and masking agents. In general terms, these substances are on the prohibited list for two reasons – firstly in weight category sports they can be used to unfairly aid weight loss… and secondly, their use has been reported in attempts to mask the presence in the body of other prohibited substances.

‘The relevant processes, as detailed in our anti-doping standard for the Games, are now being followed and Ms Amalaha has pursued her right to have her ‘B’ sample tested.

‘This will take place at an accredited laboratory in London tomorrow, July 30. Upon receipt of those results the process will continue.’

Before: Amalaha (centre) celebrates winning women’s weightlifting 53kg class gold

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Source: Dailymail

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The ban, which had threatened the participation of Nigeria’s Women’s Under-20 in next month’s World Cup in Canada, had been in place since 9 July.

Fifa punished Nigeria for government interference when a sole administrator replaced the NFF board last week.

On Thursday a court order quashed that ruling and a lawsuit was withdrawn.

Fifa had given Nigeria until 17 July to reinstate the board – extended from 15 July because of a judiciary workers’ strike in the country – in order for the Women’s Under-20 side to play at the World Cup.

The governing body confirmed on Friday it had reinstated Nigeria’s rights to play internationals.

A statement read: “Fifa has lifted the suspension that was imposed on the Nigeria Football Federation on account of interference.

“Fifa has noted that the court proceedings and order preventing the president of the NFF, the NFF Executive Committee members and the NFF Congress from running the affairs of Nigerian football that prompted the suspension have been withdrawn.”

It means the Super Eagles will be able to defend their Africa Cup of Nations title when qualifying matches start in September. The tournament kicks off next January in Morocco.

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Source: BBC Sport

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Fifa punished Nigeria for government interference after the NFF board was replaced by a sole administrator.

A 17 July deadline was given to reverse the decision, despite the government’s claim it was a matter for the courts.

On Wednesday a private legal action was withdrawn, allowing the NFF to return.

Fifa, who extended the original deadline from 15 July because of a judiciary workers’ strike in Nigeria, has yet to announce whether it will now end the country’s suspension from all international football.

It mean Nigeria’s participation in the Under-20 Women’s World Cup that starts in August in Canada remains under threat – as well as the men’s under-17 side’s participation in an African Championship qualifier this weekend.

BBC Sport understands reinstated NFF general secretary Musa Amadu has subsequently communicated to Fifa the latest developments in the hope that the governing body will ease its stance.

“Aggrieved parties have agreed to put the country before personal interest and this is a bold step in our quest to have the ban lifted,” said a top official who preferred not to be named.

“This should have been sorted earlier but you know that a judiciary workers’ strike led to it being delayed.

“We are extremely confident now that Fifa will be happy that we got everything resolved before the new deadline.”

The Super Eagles are expected to defend their Africa Cup of Nations title when qualifying matches start in September. The tournament kicks off next January in Morocco.

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Source: BBC Sport

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It was set to open in Nigerian cinemas in April, but the country’s film board found some scenes “objectionable”.

It is not clear if changes have been made to satisfy the censors, but last month the film’s distributor said it had agreed to edit some scenes.

The film is based on the best-selling novel by Chimamanda Ngozi Adichie.

More than a million people died in Nigeria’s 1967-70 civil war and it still remains a sensitive subject.

It was feared by some that the film, which is seen as sympathetic to the Biafran separatist cause, could stoke ethnic tensions.

In a joint statement, the film’s producers and distributor – Shareman Media and FilmOne Distribution – thanks Nigerians for their “patience and support”.

“Half of a Yellow Sun is now set to strike a special chord with every Nigerian,” they said.

In June, FilmOne Distribution said it had met members of the National Film and Video Censors Board (NFVCB) to explain the financial consequences of making edits.

“Nevertheless, FilmOne presented to the Board edited scenes in accordance with the Board’s requirement. The Board watched these edited scenes and expressed their satisfaction with the edits,” their statement said.

In its list of films it approved in June, the NFVCB gave Half of a Yellow Sun, which features Twelve Years a Slave actor Chiwetel Ejiofor and Crash star Thandie Newton, an 18 certificate.

Source: BBC

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