Daily Archives: March 19, 2020

The city council will hold a special meeting in which the council will likely to declare a local emergency. Staff notes, The speed at which COVID-19 is spreading across the world and regionally is unprecedented in modern times. As a result, guidelines are not only changing rapidlysome changed several times in a single day.

As a result, Local mitigation decisions must be made near instantaneously with changing health and safety conditions.

This requires the City take steps now to allow the City Manager, as the Director of Emergency Services, to take any actions necessary to address or mitigate impacts COVID-19 may have on City operations and services. It also allows the City Council to approve emergency regulations to prevent the spread of illness should that become necessary. Finally, it allows the City to take advantage of State and federal funding and other resources as necessary to address issues within Davis.

On Monday, huge swaths of northern California have been ordered to shelter in place starting at midnight on Monday night.

These counties include: San Francisco, Santa Clara, San Mateo, Marin, Contra Costa, Alameda, and Santa Cruz counties.

This isnt a time for half measures, San Jose Mayor Sam Liccardo said on Monday. History will not forgive us for waiting an hour longer.

Indeed, Santa Clara has become one of the epicenters of the pandemic with at least three deaths and dozens of cases. This is not the same as the imposition of martial law where the National Guard would be sent out. Notably, grocery stores, banks, gas stations, and pharmacies, as well as police and fire departments, will stay open.

You can even take your dog for a walk, said Matt Willis, the health officer of Marin County. We are not expecting empty streets. Social distancing does not mean disconnecting from each other.

But they warn that non-essential travel, including on foot, scooter, bicycle, car or public transportation, as well as any gatherings of any size, are banned.

The key hereslowing the spread of the virus is urgent in order to prevent hospitals from being overwhelmed.

Some individuals who contract the COVID-19 virus have no symptoms or have mild symptoms, which means they may not be aware they carry the virus, the order said. Because even people without symptoms can transmit the disease, and because evidence shows the disease is easily spread, gatherings can result in preventable transmission of the virus.

One of my questions was why not simply attempt to test everyonein part because people without symptoms can transmit the disease.

I asked former Davis Mayor Robb Davis that question and he said, I dont think there is such a thing as blanket testing. He noted even South Korea is not doing that.

He said, I AM in favor of providing testing for those with a given set of symptoms.At this point it is a numbers game: enough kits need to be available.If people have influenza like illness, I think they should be eligible for a test and be able to easily get one. That would help them self-isolate more effectively and catch those at greatest risk. I am in favor of that type of aggressive testing.

Is the federal government doing enough at this point?

Robb Davis said that we expect that each level of government will operate to mitigate the crisis based on its own unique role. For example, macroeconomic issues are not the purview of local governmentobviously. But the same holds for sick leave, unemployment insurance, etc. For the most part states and local governments cannot provide this for citizens. We expect the federal government to deal with large scale infrastructure needs, and county health agencies to provide guidance to local businesses on safety precautions.

He added that this goes back to the Federal Governments responsibilities.They are not meeting them in my viewBut that is because we have a fractured health care system.We do not have a national health system.

How long can we expect to live like thisin separation from friends and the community?

Experts dont know.

What we hear: Its going to get worse before it gets better.

As the Boston Globe notes: No, its not reassuring. But thats the message from epidemiologists, biostatisticians, and infectious disease doctors, who have been sounding the alarm for weeks about the growing threat of the novel coronavirus and the dire consequences the United States will undoubtedly face if the spread of the disease, Covid-19, is not aggressively tamed.

This virus will not be conquered until we have a vaccineperiod. Its just so unstoppable, said Dr. Eric Feigl-Ding, an epidemiologist and senior fellow at the Federation of American Scientists, a nonpartisan think tank based in Washington, D.C. Were in this tough spot for the long haul.

And optimism isnt there eitherwith the belief being that, despite prioritization of efforts to develop a vaccine, it will take at least a year, probably closer to 18 months.

So how long will we live like this?

Unfortunately, the answer is not one most people want to hear: We dont know, said Bill Hanage, an associate professor of epidemiology at Harvards Center for Communicable Disease Dynamics. Were not trying to come up with long-term plans to stop the pandemic. What we are doing now is trying to stop it from destroying us.

Furthermore, The answer also depends on how we respond over the next few days, said Samuel Scarpino, an assistant professor at Northeastern Universitys Network Science Institute, and if we increase the amount of social distancing, remote work, school closures, et cetera, or blithely ignore the advice of public health officials

Some warn that if the US goes the way of Italy, within two weeks there would be 150,000 confirmed cases and about 12,000 deadthat is adjusting for population.

Can we avoid that with these drastic measures? Maybe.

The goal as we have heard it many times over is to flatten the curve through social distancing. It was just a week ago I was warning the consequences of it. On the other hand, the consequence of not doing this is hundreds of millions infected and millions dead.

The challenge right now is we dont really have anything to combat the disease, said Natalie Dean, an assistant professor of biostatistics at the University of Floridas Emerging Pathogens Institute. Certainly, if we can find a highly effective therapeuticsomething that reduces mortality or something that reduces the severity of illnessthat would be very valuable. And that might give us some reassurance in relaxing some of these strategies.

For now, were buying ourselves time for a vaccine to be evaluated, manufactured, and deployed, Dean added. It is possible that this will be a new way of life for a stretch thats longer than any of us would like.

Ouch.

David M. Greenwald reporting

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Commentary: City to Declare Emergency as Region Is Sheltering in Place - The Peoples Vanguard of Davis

Accuses FG of indiscriminate deductions,non payment of members on sabbatical leave, othersBy Joseph Erunke

ABUJALECTURERS in the nations Colleges of Education have accused the federal government of engaging in indiscriminate deductions of their salaries following their enrollment in the Integrated Personnel and Payroll System,IPPS.

Besides,the lecturers said even as discussion with the IPPS on some issues which it feared in the scheme were yet to be concluded, government had stopped payment of members on sabbatical leave, deduction of salaries for the National Housing Fund, and non inclusion inthe Peculiar Allowances of the staff of the subsector, especially the Peculiar Earned Academic Allowance,PEAA.

The lecturers speaking in a statement through their umbrella union, College of Education Academic Staff Union, COEASU,also said,Whereas FGN deducted its own statutory deductions, the non-statutory deduction of staff necessary for their well-being, especially Staff Cooperative Society contributions were not made.

To this end,they have in the statement released to the media, Sunday,through the President of COEASU,Nuhu Ogirima,threatened disruption of activities in the nations colleges of education.

It said the February salary paid by the federal government did not include the Peculiar Allowances of the staff of the subsector, especially the Peculiar Earned Academic Allowance (PEAA), adding that,Also not paid are staff on sabbatical leave. In addition, deductions were effected on all staff salary, indiscriminately, for the National Housing Fund (NHF), a voluntary scheme to which most staff did not subscribe.

The Union shall reconvene the Expanded National Executive Council meeting to deliberate on further necessary action on IPPIS and other lingering issues of industrial concern, including but not limited to the inconclusive renegotiation, the unfulfilled N15bn Needs Assessment palliative and the sum of N2.5bn unpaid arrears of Peculiar Allowances, the statement said.

COEASU noted that,Sadly, pension and the imposed obnoxious tax deductions were effected on gross earning of staff, which included non-taxable Allowances) as against the basic salary on which such deductions ought to be effected.

It added that:From the information available, it is quite evident that the peculiarities of the Colleges of Education subsector, which the stakeholders meetings with IPPIS office, prior to its implementation, harped on as the basis of rejection of the obnoxious pay platform, have not been reflected.

According to the union, the action of government was a breach of trust,saying the action was unacceptable to it.

The statement read in full:The attention of the National Secretariat has been drawn to the payment of February 2020 salary to staff of the Federal Colleges of Education by the Federal Government of Nigeria (FGN).

From the information available, it is quite evident that the peculiarities of the Colleges of Education subsector, which the stakeholders meetings with IPPIS office, prior to its implementation, harped on as the basis of rejection of the obnoxious pay platform, have not been reflected.

For the avoidance of doubt, the February salary paid by FGN did not include the Peculiar Allowances of the staff of the subsector, especially the Peculiar Earned Academic Allowance (PEAA).

Also not paid are staff on Sabbatical Leave. In addition, deductions were effected on all staff salary, indiscriminately, for the National Housing Fund (NHF), a voluntary scheme to which most staff did not subscribe.

Whereas FGN deducted its own statutory deductions, the non-statutory deduction of staff necessary for their well-being, especially Staff Cooperative Society contributions were not made.

Sadly, pension and the imposed obnoxious tax deductions were effected on gross earning of staff, which included non-taxable Allowances) as against the basic salary on which such deductions ought to be effected.

The Union views this as a serious breach of trust and,therefore, considers Federal Government of Nigeria betrayal not acceptable.

The impunity with which FGN has engendered this anomaly goes to further heighten our fears and reinforces our concern over the wanton neglect of the Colleges of Education subsector by successive administrations peaked with the current government.

For the avoidance of doubt, the Union, while reiterating the initial worries on the concern over the use of IPPIS in COE system, as a tertiary institution, calls on FGN, OAGF in particular, to, matter of urgent concern, capable of disrupting the smooth running of the Colleges of Education,take urgent steps to ameliorate the situation.

The Union shall reconvene the Expanded National Executive Council meeting to deliberate on further necessary action on IPPIS and other lingering issues of industrial concern, including but not limited to the inconclusive renegotiation, the unfulfilled N15bn Needs Assessment palliative and the sum of N2.5bn unpaid arrears of Peculiar Allowances.

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IPPS: COEASU threatens industrial action - Vanguard

FG drops petrol priceMarketers renew call for subsidy removalBy Prince Okafor & Ediri Ejoh

MORE trouble looms for the Federal Governments 2020 Budget as oil price yesterday dipped further on the global economic tension driven by Coronavirus (COVID-19) pandemic. It is also fuelled by Saudi Arabia and Russia oil price war.

Nigerias premium Bonny Light tumbled to $28.72, which showed a 2.18 percent decline from $29 on Monday.

At current price, the 2020 budget revenue estimate put at N2.64 trillion based on $57 per barrel has lost N1.3 trillion, about 49.6 percent loss.

Similarly, Brent and West Texas Intermediate (WTI) tumbled to $28.13 and $23.71, which showed 7.50 percent and 13.25 percent decline respectively from $30.79 and $26.92 on Monday.

Meanwhile, The Federal government through the Ministry of Petroleum Resources, MPR, has dropped the price of Premium Motor Spirit, PMS, popularly known as petrol to N125 per litre, from N145 approved template in 2015.

Crude prices have dropped to its lowest levels in more than 17 years.

According to the Global Head of Currency Strategy & Market Research at FXTM, Jameel Ahmad, The Oil price has smashed through its previous 2016 support level around $27 and is now valued below $25 for the first time since at least 2003. Investor sentiment is in such a state of freefall that it is possible that Oil can fall to $20 within hours, if not by the end of this week.

Meanwhile, a statement signed by the Minister of State for Petroleum, Timipre Sylva, said: The drop in crude oil has lowered the expected open market price of imported petrol below the official pump price of N145 per litre.

Therefore Mr. President has approved that Nigerians should benefit from the reduction in the price of PMS which is a direct effect of the crash in global crude oil prices.

Because of this situation, based on the price modulation template approved in 2015, the federal government is directing the Nigerian National Petroleum Corporation, NNPC to reduce the Ex-Coastal and Ex-Depot prices of PMS to reflect current market realities.

But the Major oil Marketers Association of Nigeria, MOMAN, said that the federal government should consider removing subsidy on petroleum products riding on the back of the current low price of oil in the global market.

In a statement sent to Vanguard, Chairman of MOMAN, Mr. Tunji Oyebanji, stated that the N450 billion set aside by the government for subsidy in the 2020 budget would not add value to the nations downstream sector and the lives of Nigerians.

He, therefore, advised government to use the amount to develop other sectors in order to impact positively on Nigerian economy.

Vanguard

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COVID-19: Oil price dips further to $28 - Vanguard

On Jan. 21, the first known case of coronavirus in the United States was discovered in Washington state. By March 13, the NBA, NHL, PGA, NFL, XFL, MLS, NCAA, FIFA and several other organizations had all delayed or canceled games and events, with many leagues suspending their seasons indefinitely as a precautionary response to the spread of the coronavirus.

The rapid rate at which these developments have transpired and progressed across sports is something few, if any, anticipated. A week ago, the idea of professional sporting events being played without fans seemed laughable. But with new information and policy changes emerging nearly every hour, what comes next is unknown.

What would have seemed an impossibility just a few days ago is now a reality, and it has raised a number of questions regarding the future of sports.

What happens to those senior athletes who were in the middle of or entering into their final season of collegiate sports? For players who have spent days, months and years dedicating themselves to their sport and the chance of making a championship runonly to have it taken away at the last momentis there anything that can be done to amend this lost opportunity?

For senior Sabrina Ionescu, point guard for the University of Oregon womens basketball team and potential number one overall pick in next years WNBA draft, this final season was all about unfinished business. The NCAA championship that eluded Ionescu through the teams first three seasons was within reach as they prepared for the 2020 NCAA tournament.

Now, for Ionescu, along with so many other seniors whose prolific college careers have been cut short, the unfinished business will remain just thatunfinished.

And what about the senior athletes who never even had the chance for their final season to begin? With the NCAA canceling all winter and spring championship competition, and many athletic conferencesincluding the Big Sky conferenceelecting to suspend all spring sports indefinitely, what can be done for the senior athletes whose seasons ended before they ever began?

University of Connecticut womens basketball coach Geno Auriemma joined a growing number of voices advocating for college seniors to be granted an additional year of athletic eligibility in order to make up for the seasons that have been cut short or canceled. The NCAA announced on March 13 that it will grant another year of eligibility to student-athletes who have participated in spring sports, but a number of questions remain surrounding how this will impact financial aid for each athletic program. The unfortunate reality is that for many college athletes, this season was their only shot.

Within the realm of professional sports, the revenue lost for these industries as a result of canceling games and suspending seasons will have a ripple effect for years to come, influencing contracts, salary caps and even league champions years down the road. ESPN insider Adrian Wojnarowski described the NBA as a league that is paralyzed following the indefinite suspension of their season.

While league commissioners and franchise owners are in disarray attempting to address these sudden changes, the group that is perhaps hit hardest by the fallout of the coronavirus is the hourly workers who rely on their income from working in and around arenas to get by.

The widespread cancellation of sporting events worldwide is unprecedented. As such, there was little to no preexisting protocol to address the needs of those who depend on hourly wages from sports arenas and franchises to survive.

Dallas Mavericks owner Mark Cuban was at the forefront of this discussion when news broke March 11 that the NBA would be suspending the remainder of its season.

In an interview broadcast during what would become the final NBA game of the seasonplayed between the Denver Nuggets and Dallas MavericksCuban said, I reached out to the folks at the arena and our folks at the Mavs to find out what it would cost to support, financially support, people who arent going to be able to come to work.

Weve already started the process of having a program in place. I dont have any details to give, but its certainly something thats important to me.

NBA players have already begun pledging support out of their own pockets. Cleveland Cavaliers forward Kevin Love pledged $100,000 to aid arena workers displaced by the NBAs cancellation of the season. My hope is that others will step up, Love stated. New Orleans Pelicans rookie Zion Williamson made a similar gesture, offering to cover the salaries of Pelicans arena workers for 30 days.

Throughout history, sports have served as an outlet and an escape for so many, theyve brought people together in a way few other things can. Now, it is precisely that coalescent quality of sports that necessitates their discontinuance.

The recent developments within sports leagues across the world have come as a shock and disappointment to many. However, it is a necessary sacrifice in order to ensure the safety of the athletes, their families, league employees and fans across the globe as the coronavirus remains a threat to public safety.

As it stands now, the coronavirus has been declared a pandemic by the World Health Organization, and President Donald Trump declared a national emergency on March 13. It is unclear what the timetable will be for sports to return to their normal scheduling and how the continuation of each leagues season will proceed.

These are truly uncharted territories being entered within the world of sports. One can only hope that a return to normalcy exists in the not too distant future.

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The impact of COVID-19 on sports - Psuvanguard.com

NEW YORK, NY JANUARY 08: Harvey Weinstein exits the courtroom at New York City criminal court during his sex crimes trial on January 8, 2020 in New York City. Weinstein, a movie producer whose alleged sexual misconduct helped spark the #MeToo movement, pleaded not-guilty on five counts of rape and sexual assault against two unnamed women and faces a possible life sentence in prison. (Photo by Stephanie Keith/Getty Images)

By Lisa M. Rea and Ailbhe Griffith

Most of us were not in the courtroom during the testimony of a multitude of women who came forward to accuse Harvey Weinstein of sexual assault and sexual misconduct. We all waited expectantly for the sentencing of Weinstein by New York Judge James Burke. He received a sentence of 23 years in prison for rape and criminal sex act convictions. The maximum sentence could have been 29 years or a minimum of five years. What we know now is that women have felt for so many years that sexual assault and rape are not taken seriously under the rule of law. Today that changed. The sentence reflected the #Me Too movement but it is more than that recent movement. Are women empowered by this sentence and the trial itself? I would argue, no, they want more. Its restorative justice.

What is most interesting is Weinsteins public comments, his first in court. He said, We may have different truths but I have great remorse for all of you. Weinstein also stated, Im totally confused. I think men are confused about these issues. In the field of restorative justice many victims of crime and victims of violence would be more astounded by those comments than not. Its the lack of remorse thats expressed by Weinstein when apparently he was trying to express remorse. Perhaps he did not write those words himself, maybe his legal defense team did, but there is no remorse there at all. The comment about different truths sounds exactly like many high profile offenders who do not take responsibility for their actions after being called out for sexual harassment or worse convicted of sexual assault and rape.

The victims of violence Restorative Justice International (RJI) works with nationally and globally are asking for victims-driven restorative justice. This is a global movement of victims seeking something that so often our criminal justice systems does not offer: a way to heal but also a justice that seeks offender accountability. And it must be victims-driven.

RJI recently conducted a podcast with a victim of a violent sexual assault in Dublin, Ireland. Her name is Ailbhe Griffith. http://www.restorativejusticeinternational.com/2020/ailbhe-griffith-podcast-with-marie-keenan-dublin-ireland-feb-2020/

Ailbhe wanted what the justice system could never provide answers and the opportunity to reclaim her power in his presence. In her case her offender received a nine year sentence for the violent attack she endured in 2005. But Ailbhe realized that she wanted something else that she later learned had a name: restorative justice. Through a restorative justice dialogue with the offender, with the skilled assistance of Dr. Marie Keenan, a national restorative justice expert in Ireland, she would be empowered to ask questions and to tell her attacker to his face how the violent attack had impacted on her on her life. This process is more than the simple reading of a victim impact statement, something Ailbhe had the opportunity to do in court but still didnt feel it was enough. For Ailbhe this voluntary victim offender dialogue provided much more than the prison sentence her offender served. It would free her from Post-Traumatic Stress Disorder and allow her to move on with her life. In being afforded the opportunity to humanize the man who had behaved so violently towards her and in becoming a human to him, Ailbhe finally found peace and healing, something she feels she never would have been able to achieve via the criminal justice system alone.

While most of the victims of Weinstein, especially those who publicly testified, praised the prison sentence he received we wonder if each victim might want, in addition to the sentence, restorative justice. This seems quite possible; with some reporting in the New York Times soon after the guilty verdict, that one of the first well-known actresses to accuse Weinstein, Ashley Judd, indicated that she would love for Harvey to have a restorative justice process in which he could come emotionally to terms with his wrongs. The question of whether Weinsteins sentence was too severe is another subject worth debating. But from Weinsteins comments in court it appears he still does not understand the impact his actions had on his victim. Through restorative justice processes an offender would hear more directly from the victim(s) and not in a court setting.

It is RJIs position that victims of sexual assault and abuse need restorative justice as a right. That would mean that victims of violence would be asked by our justice system if they wish to choose restorative justice. Restorative justice would be explained to crime victims and could include, as in Ailbhes case, an option to participate in a direct victim offender dialogue, if both victim and offender agree. In those cases thorough preparation occurs with both victim and offender with a trained facilitator. A victims right to restorative justice is not a new concept and increasingly recognized and supported in many countries. This new right to restorative justice must be embraced in our laws and applied to criminal cases nationally and throughout our world.

There are other options when a victim does not choose direct dialogue including meeting with a surrogate offender (similar offense but unrelated cases). Such programs exist nationally and globally (e.g. Sycamore Tree Project, Bridges to Life, Insight Prison Project and others). But we need more such programs (in- prison and post-conviction), Those programs must be fully funded, including victim offender dialogues, to reach more crime victims and their offenders. This is a new way of responding to violence against women. It puts the needs of victims first in ways that urge offender accountability and seeks to restore victims/survivors as much as possible.

Weinsteins sentencing hearing (Associated Press) March 11, 2020

AP coverage: https://apnews.com/310554f06f644d41e1c0513600099ce1

Ashley Judd Responds https://www.nytimes.com/2020/02/24/nyregion/harvey-weinstein-accusers.html

Lisa M. Rea is President, Restorative Justice International http://www.restorativejusticeinternational.com & Ailbhe Griffith is a restorative justice advocate, victim/survivor of violent crime and RJI Ambassador of Restorative Justice (Dublin, Ireland). Contact RJIto learn more about the work and how it evolves and expands daily from a national and global perspective.

To sign up for our new newsletter Everyday Injustice https://tinyurl.com/yyultcf9

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Guest Commentary: Weinstein Verdict: Restorative Justice Is Needed to Empower Victims - The Peoples Vanguard of Davis

Additional N100bn for Health sectorAdvises banks to discourage large gathering of staffBy Babajide Komolafe

The Central Bank of Nigeria (CBN) Wednesday announced additional measures to address the possible impact of the Covid-19 virus on the economy, including injection of N1 trillion across all critical sectors of the economy.

The new measures also include N100 billion loan in 2020 to support the health authorities to ensure laboratories, researchers and innovators work with global scientists to patent and or produce vaccines and test kits In Nigeria to prepare for any major crises ahead

Furthermore the CBN advised deposit money banks to activate their business continuity plan as well as discourage large gatherings of staff and customers.

CBN Governor, Mr. Godwin Emefiele, disclosed this yesterday in Abuja adding that the management of the CBN will meet with the Bankers Committee on Saturday, March 21, 2020, to work out the modalities.

Emefiele also told newsmen that an Implementation Committee that will execute the private sector contribution of N1.5 trillion infrastructures funding that will link farming communities to markets as agreed at the recently concluded Going for Growth Roundtable last week will be set-up next week.

Given the plunge in the price of oil, which dropped to $25 per barrel on Wednesday with its attendant low accretion to oil revenue, the CBN Governor directed all Deposit Money Banks to increase their support to the pharmaceutical and healthcare industries to enhance local drug manufacturing, increased bed count in hospitals across Nigeria, in funding intensive care as well as in training, laboratory testing, equipment and Research & Development.

In addition to the N50 billion soft loans to small businesses announced on Monday, March 16, 2020, Emefiele said the CBN would also increase its intervention by another N100 billion in loan in 2020, to support the health authorities to ensure laboratories, researchers and innovators work with global scientists to patent and or produce vaccines and test kits In Nigeria to prepare for any major crises ahead.

According to him, the apex bank will release details of how the unveiled facilities would be accessed and released, adding that the CBN had also set-up the Financial Markets Situation Room to monitor global markets and advise the bank on adequate response.

Meanwhile, Emefiele has advised all Deposit Money Banks and other regulated entities in the banking industry to trigger their business continuity plans to ensure that their staff and families are protected, and their operations remain largely undisrupted.

He further advised the banks to adhere strictly to the directives, advice, and notices from the Federal Ministry of Health, National Centre for Disease Control and other relevant government agencies on national response measures to COVID-19.

As a way of checking possible spread of the virus, he urged the institutions to ensure regular and appropriate sanitization of their premises and make available in all their locations adequate sanitization materials and also to discourage large gatherings of staff and customers.

While pledging that the CBN will continue to monitor all developments on the COVID 19 infection and design appropriate monetary response to protect the people and economy of Nigeria, Emefiele urged that Nigerians take advantage of turning what appeared to be an adversity in the pandemic into an opportunity.

Vanguard

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(Breaking) COVID-19: CBN to inject N1trn in additional measures to stimulate economy - Vanguard

Elder statesman, Senator Anietie Okon, served in the Senate between 1999 and 2003. In this interview, the pioneer national publicity secretary of the Peoples Democratic Party, PDP, spoke on the state of the nation and the way out of the political, and socio-economic logjam among others.

Today, everything seems to have failed in Nigeria. To address the nation otherwise is an exercise in foolhardiness. The president and his club of men which I call the cabal sit in absolute detachment from the realities in this country.

Governance, as far as I am concerned, does not begin and end with the narrow perceptions of the reach and stretch of the country. General Ibrahim Babangida once said that when President Muhammadu Buhari was the military head of state they tried to tell him that Nigeria was a lot beyond his concept of what Nigeria is, that Nigeria doesnt begin and end with Katsina and a few other states in the North; that Nigeria has Lagos, Port-Harcourt, Cross River, Uyo, and other states, but as they did that they were classified as enemies. Therefore they had to remove him from office.

Even though we dont want that type of action today because to have a repeat of that action will mean destroying all the democratic institutions and various segments that go with it, we want him to see the country for what it is: a defined economic and geographical entity called Nigeria does not begin and end within the confines of his state of origin.

And we want a return to true federalism in which rather than the states going to Abuja (the centre) to collect money with handbags in a beggarly picture they will be contributing to the maintenance of the centre because they are raising money on their own.

Why do you think there is banditry in Zamfara and some other places? Because they see the federal government interfering with their mineral resources, and exploited the resources illegally. And where do these bandits get their weapons from? There are now a lot of armed gangs essentially serving certain economic interests. Those interests are the ones funding them and that is why they have sophisticated weapons.

And you hear that Boko Haram members have better weapons than the Nigerian Army. They have chosen to call it banditry but the fact remains that they are sponsored by various interests in the mining sector, yet they still come to Abuja to collect from our own contributions which I learned has continued to yield for the Republic of Nigeria.

Why are they not allowing the proceeds from exploitation of mineral resources like gold, limestone come into the national treasury? We are saying that they have to formalise the exploitation of those mineral resources but they are trying to turn a blind eye to that. Those bandits are sponsored gangs by some Mafia-like organisations.

That is the truth and until we face the truth we cant find any solution.And as far as I am concerned, there are enough resources for every state in Nigeria to be able to look after itself and contribute to the maintenance of the centre. As a state you grow at your own pace; that is what federalism means. If you see that other states are growing, you find out from them what they are doing and establish collaboration with them to grow. It is a shame that in this country today we have 20 million pupils that are out of school. And it is not a question of talking, this has been confirmed by the United Nations and all world bodies.

And they said about 95% of that is essentially from the North.

That is rubbish, and irresponsible. Where did we grow from? We started as a federation until the military took overpower. So there is no compulsion to remain part of Nigeria under the present circumstance. And you see in the national dailies recently, Chief Olusegun Obasanjo warned that Nigeria cannot afford to be plunged into another civil war. Other Nigerians are also warning that the unity of the country is in tatters, and that if things continue this way, there is no way a civil war will be averted. If we declare that we are going, we are going, because there is no law that compels us to be part of Nigeria under a repressive circumstance in which the laws of association are not respected or given any regard. We want to return to true federalism, that is why we have said that they cannot continue to fight against restructuring.

Nigerians have reasoned that bad leadership in the country is as a result of rigged elections. Do you agree?A stolen mandate has a way of responding to challenges of governance.And as far as I am concerned, some of them are just there, doing all they can to exploit the country. And for all the exploitation done out of narrow interest is now reflecting on the condition of their citizens. For instance the severity of poverty is more felt in the North.

Yes, that is true, and that is because they are driven by selfishness. How can you be in a government that continues to deny your people the basic rights of citizenship, the basic rights for development and you say nothing? Have you heard any of them make any statement that is in the interest of this region? I challenge any of them from Akpabio to Amaechi, to Sylva to come out and make statements that will help promote peaceful co-existence in this country while protecting our interest. They cannot because they are there out of selfish pursuit.

But that is not the issue here, the issue is to continue to emphasize the goals of federalism and the advantages that go with it and the fact that true federalism ensures for us as a people the right to develop at our own pace. And as I said earlier, if some states grow faster than the others, it is not their fault. Other states can seek for collaboration if they find solutions to their own problems in any state.

If they want to review the constitution by making certain enactment, they are right, provided it is meant to satisfy the yearning of the people. But when you wake up and say you want to pass a bill or create an agency that promotes the education of terrorists and insurgents abroad, what rubbish is that? The bill is proposed to encourage terrorism. And where are they going to educate them? Is it Saudi Arabia or where? It doesnt make sense. In any case I think that bill is as good as dead because I strongly believe that the leadership of the Senate have their heads properly screwed on their neck. They wont attempt such.

No, it is not necessary. Let them begin to implement the recommendations of the last national conference. The recommendations are enough and I strongly believe that if those recommendations are implemented they would save the country a lot of problems and challenges it is going through today.

It is also a build up of the attack on this region so that they will continue to deny us our rights.Why has he not ordered investigation into his own expenditures? I am not holding brief for those who have run the NDDC because the commission had not been properly ran, it doesnt require any audit to establish that as a fact. So it requires finding the culprits and dealing with them, not to be telling us that they are carrying out a forensic audit. And in any case a lot of monies are still being owed the NDDC.

It is beyond time. Why are people talking about state police now? It is medicine after death.Some Nigerians have argued that adopting a regional security outfit will gradually shift administration to the regions?

And what is wrong with that? With the failure of the present federal system, everybody must look after himself. Within the laws of this country, the National Assembly can decide to create something like an ambience that could assure the people of each region when they adopt whatever they are going to adopt, of their independence up to a point, and their security. During my recent interaction with the media in the state, I made reference to people now resorting to self-help, which is a dangerous one. Of course, the federal police in Nigeria has failed. You see the outrage over the killing of that footballer, Kazeem, recently, and you can point to many cases like that. Now they said they are going after Yahoo boys.

As long as they come out and look after the security interest of the regions.

They are much more corrupt. How many people have they jailed so far? In the name of fighting corruption they have recovered so much money from looters, where are those recovered funds going into? Why is America now intervening in the repatriation of Abachas loot to Nigeria? They even had to attach conditions for them to return the over $300million loot, the money that was looted by late Sanni Abacha as a former head of state, and warned that it must not be stolen. That is lack of trust. Recently we read in the Newspapers that the US Department of Justice alleged that the Nigerian government is planning to hand over about $100million out of the money Abacha looted to Bagudu, Kebbi state governor and Chairman of the All Progressives Congress Party, Governors Forum. Did you not read the story?

The president has always conducted the business of governance of this country in such a way that it is to his whims and caprices. How can a president continue to encourage illegality? You see the appointment of Magu, the extension of the tenure and appointment of the service chiefs beyond what was contemplated in Law. So a lot of his actions are illegal and I am not surprised. What did he not promise Nigerians. He promised to fight corruption but corruption index has increased under his leadership. He also promised to restructure the economy of the country, has he done that? It was good enough to make the promises in order to get votes. I hold people like Tinubu accountable for the disasters that we are having today because if he did not partner with him there is no way he could have beaten Jonathan in 2015.

There is no doubt that this development is part of the policy of the fulanisation of Nigeria. Most of those coming down here have never been resident in this country. They come in through the borders that are thrown open. They just walk across from their own lands because of the fact that there is grant of free entry mostly to Africa of Fulani extraction.

We will not have accepted it. Let them carry it to where there is land. The siting of nuclear plant should be within 40 or more than 100 kilometres from where you find people. There is really no need wasting our time about that. Recently they came trying to convince us, but they forgot that for you to have a site for a nuclear plant, the government, the leadership of wherever it is to be sited must be aware of it. And as far back as 2015 we had kicked against it, we held a press conference to state our position on that. After that, a lot of professors also came up with their positions in addition to the position we took that Nigeria is not ready for it. We dont have the discipline or competence to manage a nuclear plant and the consequences of a leak. So we cannot allow it.

What is the allocation coming to the state and what has the man achieved so far?. People even wonder where he gets the money to do the things he is doing. He is using market forces to ensure development in Akwa Ibom. Factories are being constructed, road infrastructure are being developed and at the same time he is managing a debt which he inherited. And when they say funding? Is it the APC, that has no area where they are performing creditably. In fact their newest scam is the appointment of an Emir of Imo. My take on this is that Udom has done well, he is still doing well and he has delivered on the mandate given to him by Akwa Ibom people.

There is no way of comparing them. We went to school, we had ambitions, and we looked up to our leaders. But can my child today, look up to a man like Muhammadu Buhari. What is there to write home about him? He has failed in his promises to reposition the economy of this country.

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STATE OF THE NATION: Nigeria toying with disintegration without restructuring Senator Okon - Vanguard

When I first wrote preliminary thoughts about the coronavirus on January 24th, the article was focused on the potential negative impact to Chinese growth, a regional pan-Asian impact to directly impacted sectors - travel/leisure, airlines, hotels, and gaming - and a negative impact on commodity-sensitive sectors given the potential for lower Chinese demand and reduced air travel.

The analog for framing the impact of the Coronoavirus was to the 2003 SARS experience, which saw a modest negative impact on Chinese growth and quick rebound. Through that experience, U.S. assets, which were still recovering from the deflation of the tech bubble and a 2001 recession, did quite well. The Covid-19 outbreak now is a global pandemic, with infections and deaths far outpacing the 2003 experience. Transmission of the virus to the U.S. has weighed on risky assets stateside. In this article, I want to provide updated thoughts on the current economic situation and market conditions. I am going to discuss the impacts in four parts: Economics, Markets, Behavior, and Long-Term Impacts.

The speed of the correction in equity markets has been dramatic and historic. Some part of that is rational given the sharp change from an economy operating near full capacity to one that could already be in recession as business activity grinds to a halt. Part of the move is irrational as fear of the unknown and the never-before-seen change in the everyday life of Americans fuel some level of panic.

The next several weeks are going to feel long. It was just Wednesday that American sports teams were playing in front of crowds. We have had the largest single-day stock loss since 1987 and the largest single-day gain since 2008 in the interim (and a welcomed weekend break).

Crises ultimately bring opportunity, but it will likely get darker before the dawn. We will very likely retest Thursday's lows. I am thinking about the market opportunity both strategically and tactically.

Strategic: For those looking to add into weakness, I would focus on a strategic rotation of some fixed income into equities. For many readers, that might mean a rotation in retirement accounts. A buy-and-hold 10-year Treasury will deliver a sub-1% annualized total return to investors; equity gains are going to be higher, even if volatility could be nausea-inducing for some over the next several quarters. While we are likely heading into recession, strangely, the prospect of positive total returns for U.S. equities 5-10 years in the future is potentially higher today than it was at the start of the year given the sharp drawdown from high valuations. A strategic shift might also mean a slow tilt towards more non-US assets for investors who have benefited from an overweight to outperforming U.S. assets in the post-crisis era. The relative outperformance for U.S. assets has again accelerated versus developed and most emerging markets. Strategic investors should keep their eye level fixed on a long-term horizon and add into weakness. Volatility is ahead though, so a judicious pace of easing into new long-term holdings is warranted.

Tactically: Some investors may look to use the historic volatility to trade more liberally. Thursday's drop would have been the fourth-worst annual drop for stocks this century (trailing only 2001-2002, 2008). Friday's rebound of 9%+ would be a solid annual return given the view of subnormal returns heading into the year. If you want to play some of this volatility to reap short-term gains, remain broadly diversified and focus on strategies that you would be comfortable owning long term. Avoid single companies with weak balance sheets - poorly functioning credit markets may turn some of those stocks into 100% losses. Broadly diversified exposures in underperforming value, small-caps, non-US developed markets, and higher-quality emerging markets may provide opportunity to buy into weakness and sell into strength. I would rather play it from the long side than the short side. Recessions end.

Please share your own thoughts in the comments section below. This is a unique market environment, and crowdsourced opinions from people with differing perspectives and circumstances are valuable.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: Disclaimer: My articles may contain statements and projections that are forward-looking in nature, and therefore inherently subject to numerous risks, uncertainties and assumptions. While my articles focus on generating long-term, risk-adjusted returns, investment decisions necessarily involve the risk of loss of principal. Individual investor circumstances vary significantly, and information gleaned from my articles should be applied to your own unique investment situation, objectives, risk tolerance and investment horizon.

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Updated Coronavirus Thoughts - Seeking Alpha

Basement side Adamawa United were within five added minutes of achieving their first away result of the season at the Umuahia Township Stadium on Sunday.

The Yola based side have taken the Pantani Stadium, Gombe as home ground in their inaugural Nigeria Professional Football League (NPFL) season and although they have dropped points at home more than any team in the division, it is their failings on the road that has done them in the most.

After taking a shock lead through prized asset John-Paul Chinedu on the dot of half time, they conceded an equaliser to Yakub Hammeds header at the start of the second half before cracking at the death to Fatai Abdullahis 95th-minute penalty.

Incumbent head coach of Adamawa United Ibrahim Bariki cut a sad, lonely figure at the end of the game as defeat ensured they slipped eight points adrift of safety.

Of course I have to be disappointed, Bariki told http://www.npfl.ng after the game.

If you can be able to hold on to this far and then you lose the game, you have to be disappointed. That is the nature of the game.

Im satisfied with the performance of the players but it is sad that we could not hold on till the end and the controversial nature of the penalty too, he added.

In fairness, goalkeeper Victor Philemon was the one that stood between Abia Warriors and victory for larger spells in the game but the goalkeeper went off with a serious injury with just under ten minutes left to play.

Bariki is not going to attribute the loss to Philemons injury, insisting that his replacement Ikechukwu Obilo is a good goalkeeper too.

Its another strategy from the opponents since they have been hitting him from the first half all along. We just have to take it like that.

The substitute that replaced him is equally good, he has not had enough playing time, you could have seen how he is able to play too.

Adamawa United have remained firm favourites to return to the second-tier Nigeria National League (NNL) and Sundays loss sees their odds slashed further by bookmakers.

Bariki, himself a former footballer knows the mantra of the game being it is not over until it is over. He insists that his side will continue to fight until they can no longer fight.

The result surely piles more pressure on us in as much as in our position as a club, we know how we got here.

It is not over. It is a marathon race, you can see that nobody expected the way we fought in this match so its a marathon race and we will do it until the last match, he concluded.

npfl.ng

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Adamawa United will fight still the end, says Bariki - Vanguard

Simmons First National Corporation [NASDAQ: SFNC] slipped around -0.71 points on Wednesday, while shares priced at $18.21 at the close of the session, down -3.75%. Simmons First National Corporation stock is now -32.03% down from its year-to-date (YTD) trading value. SFNC Stock saw the intraday high of $19.80 and lowest of $17.305 per share. The companys 52-week high price is 27.29, which means current price is +25.07% above from all time high which was touched on 01/02/20.

Compared to the average trading volume of 657.60K shares, SFNC reached a trading volume of 2704929 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SFNC shares is $28.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SFNC stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Simmons First National Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 24, 2020. The new note on the price target was released on January 23, 2020, representing the official price target for Simmons First National Corporation stock.

The Average True Range (ATR) for Simmons First National Corporation is set at 1.47, with the Price to Sales ratio for SFNC stock in the period of the last 12 months amounting to 2.88. The Price to Book ratio for the last quarter was 0.66, with the Price to Cash per share for the same quarter was set at 8.06. Price to Free Cash Flow for SFNC in the course of the last twelve months was 16.81.

Simmons First National Corporation [SFNC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.11. With this latest performance, SFNC shares dropped by -26.25% in over the last four-week period, additionally sinking by -28.22% over the last 6 months not to mention a drop of -27.91% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SFNC stock in for the last two-week period is set at 39.98, with the RSI for the last a single of trading hit 43.49, and the three-weeks RSI is set at 38.86 for Simmons First National Corporation [SFNC]. The present Moving Average for the last 50 days of trading for this stock 23.35, while it was recorded at 17.07 for the last single week of trading, and 24.35 for the last 200 days.

Operating Margin for any stock indicates how profitable investing would be, and Simmons First National Corporation [SFNC] shares currently have an operating margin of +34.29. Simmons First National Corporations Net Margin is presently recorded at +24.10.

Return on Total Capital for SFNC is now 7.61, given the latest momentum, and Return on Invested Capital for the company is 5.53. Return on Equity for this stock inclined to 9.10, with Return on Assets sitting at 1.26. When it comes to the capital structure of this company, Simmons First National Corporation [SFNC] has a Total Debt to Total Equity ratio set at 61.43. Additionally, SFNC Total Debt to Total Capital is recorded at 38.05, with Total Debt to Total Assets ending up at 8.83. Long-Term Debt to Equity for the company is recorded at 56.42, with the Long-Term Debt to Total Capital now at 34.94.

With the latest financial reports released by the company, Simmons First National Corporation posted 0.51/share EPS, while the average EPS was predicted by analysts to be reported at 0.54/share.When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SFNC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Simmons First National Corporation go to 5.00%.

There are presently around $1,565 million, or 74.00% of SFNC stock, in the hands of institutional investors. The top three institutional holders of SFNC stocks are: BLACKROCK INC. with ownership of 16,199,732, which is approximately 13.654% of the companys market cap and around 1.20% of the total institutional ownership; VANGUARD GROUP INC, holding 11,139,699 shares of the stock with an approximate value of $210.76 million in SFNC stocks shares; and LANDMARK BANK, currently with $202.23 million in SFNC stock with ownership of nearly New of the companys market capitalization.

Positions in Simmons First National Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 120 institutional holders increased their position in Simmons First National Corporation [NASDAQ:SFNC] by around 20,176,588 shares. Additionally, 78 investors decreased positions by around 2,244,765 shares, while 39 investors held positions by with 60,308,283 shares. The mentioned changes placed institutional holdings at 82,729,636 shares, according to the latest SEC report filing. SFNC stock had 25 new institutional investments in for a total of 11,508,289 shares, while 24 institutional investors sold positions of 819,882 shares during the same period.

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why Simmons First National Corporation [SFNC] is a Good Choice for Investors After New Price Target of $28.00 - The DBT News