The raging disagreements between Nigerian owned telecoms giant, GLOBACOM, and the near-monopolistic South African behemoth, MTN, seems to have reached a crescendo.

According to impeccable industry sources, MTN had tried to intimidate and blackmail GLOBACOM on its own soil but the telecoms company stood its ground by challenging MTN to proof whatever case it had instead of engaging in cheap blackmail. It turned out to be a fight worth fighting.

From experience, GLOBACOM was used to being harassed by those who failed to realise that its promoters built its business conglomerates in an organic fashion and never through the surreptitious processes.

MTN had slammed a whopping sum of over N7.05 billion on GLOBABOM, covering interconnect charges of N1.6 billion (which was already paid before the controversial publication), VAT of N1.7 billion allegedly paid on behalf of GLOBACOM and a compounded interest of N3.6 billion, which GLOBACOM considered preposterous since it is the absolute prerogative of companies to pay its own interests and never through proxies.

Thus it was bizarre that MTN paid VAT on its behalf when it was already an established fact that GLOBACOM met all its obligations to FIRS. To establish that GLOBACOM was not short of funds but only fighting for its fundamental rights and integrity in the industry, the company posted a payment guarantee of N3,489,961,881.48 and also issued seven bank cheques each of N500m making a total of N3.5b. but MTN later opted for the bank guarantee.

GLOBACOM then requested for the commencement of a reconciliation exercise. The earlier threat to disconnect GLO was obviously in bad faith and poor taste since it had even paid the N1.6 billion before the publication and was only seeking transparency in the MTN claims. After the parties sat down for due diligence with the Regulators at NCC offices in Lagos, it was clearly established that contrary to the MTN insistence on claiming the earlier published sums, the interest element of the interconnect debt due from GLOBACOM to MTN stands at N2,368,290,400.81.

In view of this painstaking reconciliation, MTN can now go ahead to call up the First Bank payment guarantee dated 17th January 2024. This shall represent the full and final payment.
GLOBACOM insists that MTN should never have been pampered to the extent that it wields the power of life and death over home grown competitors. According to checks on MTN operations elsewhere, this is the same modus operandi that led to several major telecoms companies collapsing and fleeing from Ghana...

The All Progressives Congress, APC, and its candidate in the March 18, 2023 governorship election in Adamawa State, Senator Aisha Dahiru Binani on Wednesday failed in their bid to unseat Governor Ahmadu Fintiri at the Supreme Court.

The apex court, in its final judgment on the Adamawa gubernatorial legal battle, dismissed Binani’s petition in its entirety for lacking evidence and substance.

In a unanimous judgment delivered by Justice John Inyang Okoro, the Supreme Court held that the Resident Electoral Commissioner, REC, who pronounced Binani winner of the governorship election, engaged in a serious act of criminality and irresponsibility.

Justice Okoro said that Binani engaged in self deceit by hanging to the unlawful and unconstitutional acts of the REC to hold herself out as winner of the governorship poll.

The apex court emphatically held that the REC had no power under any known law to declare election results as he did in the Adamawa governorship election.

Justice Okoro maintained that the only person vested with the powers to make declaration on elections is the Returning Officer.

He warned public officers to always act within the law in the discharge of responsibilities and not get carried away by greed.

Justice Okoro subsequently dismissed Binani’s petition and upheld the concurrent findings of the Adamawa State Election Petitions Tribunal and the Court of Appeal which had earlier dismissed the petition by Binani and the APC.

Amid the free fall of the Naira in the foreign exchange market, the Central Bank of Nigeria has issued fresh guidelines to commercial banks against currency speculation and hoarding.

CBN disclosed this on Wednesday in the circular titled, ‘Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks, signed by Directors of Trade and Banking Supervision Hassan Mahmud and Rita Sike.

According to CBN, some commercial banks hoard foreign currency to make a profit when there is a Naira depreciation in the forex market.

However, the new guideline will help curb the Nigerian banking sector’s foreign currency hoarding and speculation.

It noted the guideline is necessary concerning the growth in foreign currency exposures of banks through their Net Open Position, NOP.

“The Central Bank of Nigeria (CBN) has noted with concern the growth in foreign currency exposures of banks through their Net Open Position (NOP). This has incentivized banks to hold excess long foreign currency positions, which exposes banks to foreign exchange and other risks. Therefore, the CBN issues the following prudential requirements to ensure these risks are well managed and avoid losses that could pose material systemic challenges.”

“For example, a bank borrows or buys $ 1 million worth of forex but then holds half of it in its position instead of lending it or using it to finance purchases for its clients immediately.

“What this means is that banks can profit from currency depreciation if they buy the forex low and sell high”, it stated.

Also, the CBN added that “banks with current NOPs exceeding these limits must adjust their positions to comply with the new regulations by February 1, 2024.

“Additionally, banks must calculate their daily and monthly NOP and Foreign Currency Trading Position (FCT) using specific templates provided by the CBN”.

DAILY POST reports that the Naira woes worsened on Tuesday, crashing 42 per cent against the US dollar in the foreign exchange market in the last two days.

traces N7bn fraud to another 

Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, says the anti-graft agency has uncovered a religious sect laundering money for terrorists.

Olukoyede, who made the revelation at dialogue on ‘Youth, Religion, and the Fight against Corruption’, on Wednesday in Abuja, also said N7 billion fraud proceeds was traced to another religious organisation.

He noted that the EFCC had found religious organisations, institutions, sects and bodies culpable of money laundering in the country.

Olukoyede said one of such religious bodies dragged the Commission to court to protect its leader after laundered money was traced to its bank account.

The EFCC boss said the religious body got a court injunction restraining the Commission from inviting, arresting or prosecuting its leader.

However, Olukoyede did not name the concerned religious organisations.

“We will not give up on recovering the stolen funds,” Olukoyede said.

“It is so sad that as I stand before the eminent audience today, that our experience in fighting corruption has to do with the religious leaders and even traditional rulers.

“As I stand before you there is a matter we are handling of over N30 billion fleeced from Nigeria, and we were able to trace N7 billion to a particular religious body.

“As we wrote a letter to the leader, the next thing we saw was a restraining order, stopping us from inviting them, stopping us from recovering the money.”

The labour union has proposed a minimum wage of $300 (N436,500) for Nigerian workers ahead of negotiations on the new national minimum wage.

Chairman, Trade Union Side, Joint Meeting of the National Public Service Negotiating Council (JNPSNC), Comrade Benjamin Anthony, made this proposal at the 2023 meetings of the Separate and Joint National Public Service Negotiating Council held in Goshen City, Nasarawa State, on Tuesday.

The union argued that the current minimum wage of N30,000 has since been eroded by the high exchange rate coupled with the abrupt removal of fuel subsidy which has translated into the high cost of living in the country, hence the demand for a new wage.

Anthony, who was represented by the Secretary of the Union, Comrade Boma Mohammed, also frowned at the recent delays in the payment of salaries by the Federal Government to workers, saying the trend must be stopped and avert the repeat of such things as the suffering in the land, which is already unbearable.

He said, “In light of the above, Labour has proposed a Living Wage of $300 (N436,500) for Nigerian Workers. This is due to the fall in the value of our currency, today if you carry N100,000 to the market you will come back with a leather bag of items.

“We call on Government to immediately pay the arrears of the N35,000 wage award along with the current and expedited action on the process of getting a new living wage to bring succour to the working class people,” he added.

Meanwhile, the President of the Nigeria Labour Congress (NLC), Joe Ajaero, said most governors of the 37-member Tripartite Committee on Minimum Wage are not complying with the proposed base pay structure.

Ajaero stated this in an interview on Channels Television’s Politics Today on Tuesday.

Recall that Vice President Kashim Shettima inaugurated the committee in Abuja earlier on Tuesday, saying the decision was aimed at ensuring a decent living wage and in compliance with the existing National Minimum Wage Act of 2019, which will expire in a few months.

He said, ”Most of the governors in the minimum wage committee are those who are not paying minimum wage or paying them in breaches.”

”The governors who are in full compliance with the minimum wage are not adequately represented, so whatever made the Federal Government bring in those who are not compliant or compliant in breaches to form the bulk of the membership of the minimum wage committee from the state government that will unfold with time,” he added.

It’s on gov Aiyedatiwa’s order – Amotekun boss

The Ondo security outfit codenamed, Amotekun, has deployed 100 of it’s personnel to the neighboring Ekiti state to aid the release of the five pupils of Apostolic Faith Group of Schools, Emure Ekiti, and four staff members abducted on Monday.

Amotekun commander in the state, Chief Adetunji Adeleye,said in Akure, that th security outfit was acting on the order of the Ondo state governor, Lucky Aiyedatiwa.

Adeleye said this while parading 31 suspected criminals arrested in the state.

According to him ” The governor of our dear state, Hon Lucky Aiyedatiwa has ordered that we deploy Amotekun personnel to work with their counterpart in Ekiti to secure the release of the pupils and arrest the killers of the monarchs,

“A couple of hours ago, we had an unfortunate incident in Ekiti and the governor of Ondo State directed we moved in the interest of brotherliness to assist in the security situation in Ekiti State. We deployed 100 personnel to assist Ekiti command.

“We’ve been there in the last 48 hours. Some arrest have been made and we will continue until the perpetrators of such dastardly act are arrested.”

Adeleye assured residents of Ondo State that Amotekun will continue to everything possible to ensure that lives and property are protected.

He said that “You will recall that in the last three months, we’ve been on this. We want to reassure the people of Ondo that the state, security -wise is intact.

“We will continue with our 24 hours patrol, we will continue to track all criminals from the cities to the forestry reserves and ensure that travelers can move unmolested.

“So, I want to assure the good people of Ondo State that there is no problem. The state is safe. But, they have a duty to report any suspicious movement in their environment to us on time, so that we could be proactive and ensure that before it gets out of hand, this is nipped in the bud.

“We have a sudden upsurge of visitors coming in from different parts of the country, in the name of hunting. The state government had made it clear that anybody that will carry out any activity in the forestry reserves must take permission”.

Speaking on the suspected criminals, the Amotekun boss said that “Across board, we have suspected kidnappers, those we arrested for illegal possession of firearms, especially those arrested in the forest reserve.

“We have those that specializes in breaking shops and houses. What we had assured the public is that the Ondo State Security Network Agency will not relent in its efforts in getting raid of criminals from our societies.

“The governor of Ondo State, Lucky Aiyedatiwa has directed that to the last criminal in Ondo State must be checked out.

“This is because the government is resolute in its determination to ensure that investors, farmers, residents, commuters carry out their businesses without molestation”.

Adeleye noted that, “a cross section of the suspected criminals we have here today will show that there is a serious decline in the number of suspected kidnappers in the state.

“However, until the last of them is arrested and face the full wrath of the law, all security agencies in the state will not relent.

“I want to also let you know that all this efforts being achieved are due to collaboration of Amotekun with the police, DSS, the Army, and the Civil Defense.”

Speaking on how the current wave of crimes across the federation could be tackled checked, Adeleye called on the federal government to approve creation of state police.

According to him decentralisation of the security system in the country, will allow states adequately manage their own security affairs.

He said that State police as the only panacea to Nigeria’s security challenges.

The title above was what my wife confronted me with after the 5:30 am Mass on the 28th of January 2024 at St. Joseph the Worker Catholic Parish, Awka. As we were returning to our seats after the offertory, I encountered what I considered an offensive sight: a young man with long plaited hair. He appeared to be an exceptionally troublesome individual, with distrustful eyes. Deliberately, I decided to address what to me was the foolishness of his inverted sartorial display by asking him for his head covering, like other women.

After the Mass, while waiting for the Mass server to return my balance for the Fides newspaper that I had purchased, he approached my wife and requested her to warn me with these words: "warn your husband, tell him that I do not take nonsense." I regretted not meeting him eyeball to eyeball. I would have engaged him in conversation, asking about his profession and other matters in a convivial atmosphere. "What did you do to him?" my wife inquired. Although she did not support me, I explained to her that the reaction of that young man brought me joy, as it indicated that my actions had an impact on him and would lead him to reflect in his saner moments. Conversion is a process that involves a chain of events— observation, rebuke, protest, reflection, and a gradual return to a sense of propriety. My wife was concerned because, according to her, when the young man spoke, his eyes flashed lightning-like Jove’s thunderbolts and seemed to pierce in all directions as if he would have fought me if he saw me.

As a chief executive, I have had the opportunity to invite some job seekers to my office. Interestingly, their dressing, confidence, courage, and even their demeanor are all part of the interview. Due to the inadequate upbringing of today's children, you may find some of them attending interviews with braids and wearing suggestive clothing not realizing that no serious Chief Executive would procure temptation for himself. Unfortunately, this marks the beginning of their failures. This brings us to the fashion trends of today's men.

Many years ago, when I met my former Rector in the Seminary, who was then the spiritual director, Msgr. Jeremiah Ikegbusi, he recounted how times had changed. He mentioned that during our time, parents raised children with proper values for their continued development, but nowadays, they bring up children without any trace of home training. This explains why irresponsible fashion trends are fully embraced today, unlike in the past when only a few followed such trends. What are the definitions of these fashion trends?

Today, in addition to poor behaviour and a total lack of respect, fashion is defined in terms of nudity. Like in Eden, our girls are mostly naked, and they do not seem to realize it. Once one opens some social media platforms, one is bombarded with all sorts of filthy words from those who are seeking followers. I was once shown a woman advertising what is now baptized as “ Kpekus”, as other wares are advertised! Why is it that only nudity and filthy language attract more followers than refined content?

We are burdened by an environment where characters like Bobrisky, who would have been ostracized in the past, are now followed and even defended by those who share his views. They often justify their actions with what they term "body positivity" and the freedom to choose what to do with oneself. If suicide is a crime, one not allowed to take one’s life, logic demands that one is not entirely free to do with oneself whatever one likes. What is particularly confusing in a country like Nigeria is that despite the laws regulating certain behaviours, law enforcement agents has yet to use Bobrisky as an example by arresting, prosecuting, and imprisoning him, thus demonstrating that society remains the custodian of its values. This suggests that even those who should enforce these laws lack values themselves or have grown insouciant. Daily, in the name of LGBTQ, some young men openly declare themselves as homosexuals and lesbians, and yet they are not only celebrated but also allowed to influence others. Instead of seeking meaningful ways to contribute to society, our people are seeking easy ways to make money through boisterous indecency.

Women are naturally distinguished by the symmetry of their figures, the gracefulness of their bodies, the length and waviness of their hair, and the pleasing lightness of their movement. When a man, like Bobrisky, unnaturally attempts to transform himself into a woman in pursuit of fame, something is clearly wrong with him. Our people will start naming white men and women that did the same as if they are stamps of approval.

About two years ago, I wrote and suggested the arrest of one “Onye Eze” Jesus for indecent exposure in the name of “Isa uchu.” I commended the Anambra State government, then under Gov. Willie Obiano, for promptly taking action, but I regret that he was not prosecuted and jailed. The current situation calls for drastic action. Why does the government allow charlatans like those at Oba,l and Asaba to continue deceiving the people? For the well-being of the society, the government should either look for existing laws or enact new ones to put an end to their activities. Why should a few renegades be allowed to lead the youth astray in the name of making money without working, by promoting terms like “Oke Ite,“ “Ibubo”, “awelle”, and the like? What our youth need is not foolishness but encouragement to be inventive, industrious, and thrifty.

That young man whom I asked to cover his head probably did not understand what he was doing. He likely braided his hair because others were doing so, without a moment’s reflection about propriety. The same goes for men who wear earrings. To illustrate how low their thinking is, the culture has been hijacked by individuals like them, mostly “keke” drivers, “agberoes”, masons, and others. Have you not noticed that many of them dye their hair in various colors, braid it, and generally carry themselves with an air of importance, as if they belong to the "ndi na amovu” forward tribe? Such individuals think they belong without realizing that such indulgences were already seen in the past and died out when such fashion failed the test of reason to be sustained. What is heartbreaking is that they are not enlightened enough to realize the folly of their actions.

Also on the rise are breast enhancements and related indulgences. I consider those who undergo any type of body enhancement, including buttock and breast augmentation, as suffering from low self-esteem—all of them. They are so fixated on these enhancements because they seem to be in vogue, without considering the regrets of those who underwent such procedures in the past.

Society should not allow those who are deceived or ignorant to persist in their madness in the name of fashion. They live under the illusion that celebrities like Flavour and Osihmehn dye their hair and engage in such inverted sartorial displays, as if their participation lends legitimacy to nonsense. The truth is that many of these celebrities are not at all suited to the dignity Nigerians attribute to them. Do these pointless hairstyles affect the quality of their music? Did musicians who gave the world timeless lyrics like Don Williams, Kenny Rogers, Osadebe, and Ebenezer Obe embrace such inverted sartorial displays? What about fiery lyricists like Smokie whose words were irresistible to the ears?

The current generation often fails to grasp that there is nothing inherently novel in their actions or lifestyle choices. Breast enlargement, homosexuality, lesbianism—these are not recent phenomena. There is actually nothing new under the sun. Many years ago, philosopher Aristippus advocated for embracing pleasure, epitomised by his motto, "I possess, but am not possessed." Conversely, Antisthenes, the founder of Cynicism, emphasised stripping away material attachments to free the soul, as reflected in his motto, "I do not possess, in order not to be possessed." He lived a modest life, prompting Socrates to jest about his apparent vanity. Diogenes, a staunch follower of Cynic doctrine, famously admired the simplicity of animals and sought to emulate it by living on the ground, subsisting on whatever he could find, and openly engaging in natural acts in plain view. Let our youth know that even going naked is not an innovation. There is nothing they do today that has not been done in the past. Society always provides us with the alternative of vice or virtue, but good sense, maturity, and discernment enable us to choose rightly.

Society continues to drift aimlessly; the tragedy is that most of those who should offer direction are themselves immersed in vices. During my undergraduate studies in Philosophy, Prof. Mmaduabichi Dukor conducted a thought-provoking exercise in one of his classes in Symbolic Logic. He singled out a student with dreadlocks and asked him to ponder how his parents would perceive his appearance compared to his peers. Such gestures can prompt individuals to reflect deeply on their actions and reconsider their inauthentic choices. Similarly, I hope religious leaders, like Reverend Fathers, can delicately address such matters, encouraging introspection. I have not heard any of them express disgust during mass as the number of male braided hair threatens to equal those of women. We must urge young people to uphold discipline in their conduct, moderation in their desires, and objectivity in their thoughts.

Have you observed how some individuals profit from promoting indecency and vice? Consider those who establish clubs and facilitate environments conducive to the exploitation of women as objects of desire or even prostitution. Despite the harm inflicted on countless lives, they ultimately profit financially. Is it appropriate for us to commend such individuals? Yet, sadly, they often receive praise and recognition in our society, which has a more negative than positive effect.

In conclusion, Msgr. Ikegbusi rightly lamented the decline in proper home upbringing. As a parent, it is crucial to reflect on what we are imparting to the next generation. What kind of society are we nurturing?

At least 12 loggers were killed in northeast Nigeria’s Borno state near the border with Cameroon when their vehicle hit a landmine in an area where Boko Haram jihadists are active, two NGOs working in the region said Wednesday.

The loggers were on their way to the bush to collect firewood when the flat-bed vehicle conveying them rolled over a mine suspected to have been planted by Boko Haram jihadists on the highway outside Pulka village, the NGOs said in two reports seen by AFP on the incident, which happened on Monday.

Northeast Nigeria is at the heart of a more than decade-long jihadist insurgency where militants still target rural areas even after they have been pushed back from the larges swaths of land they controlled at the height of the conflict.

“Men suspected to be Boko Haram… planted explosive… and killed 12 people while many were injured along Pulka to Gwoza route,” one of the reports read.

According to the other report, which gave the same toll, seven other loggers were injured “out of which three are very critical and have been evacuated to Maiduguri for further medical attention”.

The Nigerian security forces did not respond to a request for confirmation of the blast.

There has been a surge in mine explosions targeting civilian convoys recently that have been blamed on jihadists.

Boko Haram seized Gwoza in July 2014, making it the headquarters of their so-called caliphate. Although it was retaken by Nigerian troops in March 2015, the jihadists still raid nearby villages from hideouts in the mountains along the border with Cameroon.

Residents of villages in the area fled into Gwoza and nearby Pulka where they live in camps under military protection.

Troops conduct patrols in the area to deter the militants from killing or abducting residents who venture into the bush, especially women who collect acacia fruits and firewood.

Boko Haram and the rival Islamic State West Africa Province are known to target loggers, farmers and herders, accusing them of spying on them for troops and anti-jihadist militia fighting them.

At least 40,000 people have been killed and more than two million others displaced since the hardline Islamist group began a rebellion in 2009. The insurgency spread into neighbouring Chad, Niger and Cameroon, prompting the creation of a regional military force to fight the militants.