Over the past few weeks, the social media sphere has been abuzz with a certain video showcasing cassava processing from a specific county (Name withheld). Predictably, the video quickly went viral, coinciding with a period of elevated prices for gaari/cassava. As a seasoned cassava expert and farmer, many of my admirers forwarded the video to me, accompanied by questions like...

"High Chief Dr. Odedina, why can't we replicate this?"
My response is simple and direct:
First and foremost, Nigeria reigns as the top producer of cassava globally, yielding over 60 million metric tonnes annually. However, the sobering reality is that we consume over 80 percent of this production as gaari, fufu, or akpu.

In 2006, during the inception of the Presidential Initiative on Cassava, I had the privilege of actively participating alongside other stakeholders on Cassava, precisely a collaborator on pre emotive management of Cassava Mossic disease and we multiplied and recommended top Cassava varieties that formed the basis of high yield been experienced today.The landscape initially shifted positively, but later took a downturn when investments in cassava processing faltered due to the lack of inclusive and sustainable supply of raw material to industries persuaded to be established to use Cassava as raw materials.

A few years later, the Bill Gates Foundation and other global donors launched the largest cassava intervention projects in Africa, namely CAVA 1 and CAVA 2 (Cassava Adding Value for Africa). I was honored to serve as the Productivity Advisor for these projects in Nigeria and other African nations
Over the span of eight years, significant efforts were made to unlock the immense potential of cassava and its derivatives, such as Glucose Syrup, ethanol, starch, and High-Quality Cassava Flour for various applications like bread and biscuits. Nigeria took the lead due to its strength, size, zeal, and commitment. While only a few flash driers were installed in Ghana, Malawi, and Tanzania, Nigeria boasted more than 20 in one state alone. I remember spending some time in the Northern states collaborating with cassava processors to ensure sustainable raw material supply. Remarkably, there are more large cassava processing firms in a single state in Nigeria than in any other country in the world or Africa. These mega-scale facilities process over 300 tonnes of cassava daily,Yes. each of those factories
Utilising up to 300 to 500 fresh Cassava roots per day ( 500 long trailers per day!) producing products like Gaari and Starch for both local consumption and export, thus presenting ample job opportunities for farmers and youth. To provide a glimpse into these operations, I'll share a video showcasing one of the large-scale cassava processing facilities I've been involved with in Nigeria. Stay informed about the facts on Cassava! Do not be misled!
The onus is on stakeholders and value chain actors to fashion out ways of reaping the benefits of the unique position of Nigeria in the world to facilitate how the crop can deliver food, jobs , foreign exchange and fuel Agricultural Industrialization.

Dr Adeola Odedina is the Immediate Past Honourable Commissioner for Agriculture in Ogun State, Nigeria
Former Rector of Moshood Abiola Polythecnic, Ogun State Nigeria
And Former Provost of Federal College of Agriculture Akure Ondo State Nigeria.

Big, loud and hearty congratulations to the people and government of the Republic of Ivory Coast for hosting and organizing what has been considered one of the best editions of the Confederation of African Football (CAF) tournaments. The last time the African Cup of Nations was hosted in West Africa was in 2022, delayed from 2021, and that was in Cameroon between January 9 and February 6, 2022. Originally scheduled to be held in June/July 2021, AFCON 2021 as it was otherwise known, had to be shifted for sponsorship reasons and COVID. By then participating teams in the African soccer fiesta had been increased from 16 to 24 teams, and the Cameroonians hosted the tournament in five cities and six stadiums. But this was against the background of security threats in Cameroon, majorly from separatist groups, and as it turned out, the violence that eventually occurred was at the Olembe Stadium in Yaounde. Access to the stadium was the problem, during a last-16 match between hosts Cameroon and Comoros, resulting in a stampede and the unfortunate death of eight persons. 

This cast a shadow on the hosting of AFCON at the time. Ivory Coast deserves plaudits therefore for organizing and delivering a largely hitch-free tournament. There were minor incidents of course: the Gambian team had to return to Banjul after their chartered flight, en route Abidjan, suddenly lost oxygen nine minutes after take-off; also, violence erupted after AFCON hosts, Cote D'Ivoire were beaten 4-0 by Equatorial Guinea in the final match of Group A. Aggrieved Ivorian fans vandalized vehicles and smashed the windows of buses. When Ghana’s Black Stars drew against Mozambique 2-2, in a final group game, and faced a sure exit, angry Ghanaian journalists barricaded the team’s bus and demanded to speak to the Black Stars’ players and manager. Fans also reportedly went after Ghana coach, Chris Houghton when the team lost to Cape Verde, 2- 1 in their opening Group B match. In the semi-final match between Democratic Republic of Congo and Ivory Coast, the DRC squad decided to make a political statement by protesting about the crisis in Eastern Congo while singing their country’s national anthem. More notably, over 50 journalists who went to Yamoussoukro, to cover Senegal vs Gambia (Group C) and Angola vs Burkina Faso (Group D) matches reportedly had an accident at about 2.30 am, Ivory Coast time, on their return to Abidjan. Some of them sustained injuries. 

Nonetheless, on the whole, these became minor issues. The Ivorian Football Federation delivered a successful tournament with no deaths recorded as a result of errors of organization or internal conflicts. The people of Ivory Coast also went a step further by winning the trophy on the back of what seemed like an imminent relegation. The Elephants of Ivory Coast qualified for the knock-out stage by sheer luck, as one of the best of the worst four, but from the moment they crossed that line, luck, destiny and strategy worked in their favour backed by extra-ordinary nationalistic fervour. Last Sunday, they beat the Super Eagles, Nigeria’s better-ranked team, 2-1 to lift the AFCON trophy for a record third time, thus matching Nigeria’s record in the tournament. It was a glorious moment for Cote D’Ivoire, the first country to host the tournament and win it since Egypt last did same as host-country in 2006. We saw true nationalism on display. The 60,000-capacity Allasane Ouattara Stadium in Abidjan was filled to the brim, and the Orange-clad Ivorians stayed till the trophy was handed over. The crowd obviously put Nigeria’s Super Eagles under pressure. But both the crowd and the people of Ivory Coast obviously wanted the trophy more than the Nigerians. They had to sack their coach, Jean Louis-Gasset, and appoint Emerse Fae, who by default took them to the finals. They also made history through Sebastien Haller, a come-back kid, who despite recuperation from testicular cancer and a knee injury sealed Nigeria’s fate with an 81^st minute goal. 

CAF and its President Patrice Motsepe and the entire Board of CAF equally deserve to be applauded. The organization was superb. The quality of play was excellent with many of the players from the 24 teams that participated now certainly looking forward to better recruitments internationally. The money was good too. Motsepe and co before the tournament announced that the prize money would go up by 40% as follows: $7 million for winning, $4 million for the runners up, the two losing semi-finalists  got $2.5 m each, losing quarter finalists - $1.3 m, and the eight teams that got knocked out in the round of 16 - $800, 00 each, the teams that ranked third but failed to make the round of 16 - $700, 000,  the fourth teams in each of the six groups - $500, 000. So, in a sense, most of the teams would go home with some cash. But this was not a tournament driven by cash per se but history, ironies and revelations. And except for one or two informal complaints, by Ghana and Nigeria, the officiating was generally considered satisfactory, and perhaps that would attract the attention of FIFA to make the refereeing of global football more inclusive with the participation at the highest levels of African male and female referees. It was also agreed that the pitches were much better and that the entertainment value was top-notch. In fact, one married, Ivorian man in the stands got so carried away he propositioned a Senegalese woman next to him. His moment of distraction was fully captured on camera and televised. He had to apologize to his wife and family afterwards! 

Opta, the AI supercomputer got many of the predictions wrong as did the bookmakers too. Opta, working with BBC, crunching the numbers based on recent and historical performances, identified Senegal as the country with the most likely chance to win with a 12.8% chance, followed by Ivory Coast with 12.1%, and Morocco with 11.1%.  By the quarter-finals, the same Opta was already projecting Nigeria’s Super Eagles as strong favourites. Opta’s AI was wrong. Ivory Coast took the trophy. This was a tournament of surprises and vanishing stars.  Sebastien Haller, the Ivorian winning goal scorer, from Borussia Dortmund, whose face was also all over billboards in Abidjan in fact looked like he was not going to play at all, but destiny brought him into reckoning. Mohammed Salah of Egypt whom everyone thought would make a difference for his country, left the tournament early due to injury. Egypt did not even make it to the knock-out stage. Liverpool that had been worried sick about Salah being in AFCON 2023 had nothing to worry about at the end of the day. Riyad Mahrez, had to drop from his country, Algeria’s first XI after two false starts. Mahrez is Algeria’s star, but he was out of action literally in AFCON 2023. Yves Bissouma of Mali and Dango Quattara of Burkina Faso were afflicted by injury. Andre Onana, Manchester United’s goalkeeper was also in Abidjan, but he played only one match for his country Cameroon, out of three. New stars emerged. Senegal may have dropped out, but they gave us the 20-year-old gifted Lamine Camara, who helped his country to top Group C with a 100% record.  Soon after, Senegal crashed out, losing 5-4 to Ivory Coast on penalties in the knock-out stage. 

It was also a tournament in which coaches lost out. Algeria sacked their coach Djamel Belmadi after the two-time winners’ shock loss to Mauritania. Ivory Coast also sacked their coach after an embarrassing loss to Equatorial Guinea. Ghana fired Chris Houghton. Rui Vittoria, the Egyptian coach was also sacked. Jalel Kadri, the Tunisian coach did not wait to be sacked. He resigned. Tunisia left Ivory Coast without a single win to their name. They only just managed to score one goal in a 1-1 draw with Mali, and came last in Group E.  Algeria was knocked out by Mauritania. Ghana was sent out by Mozambique, Morocco, the same Morocco that did well at the World Cup was defeated by South Africa. Egypt did not go beyond the last 16. Cameroon did not get to the quarter finals. Instead, the big revelations were Democratic Republic of Congo whose team made it to the final play-off against South Africa. Cape Verde and Equatorial Guinea surprised even themselves. There were no minnows.   

Which is why, I think that the Super Eagles deserve some praise for making it to the finals and winning the Silver medal. Silver is not gold, yes. But it is still something. Nigeria won the trophy three times in the past: 1980, 1994, and 2013. Nigeria have been runners-up in 1984, 1988, 1990, 2000, and now 2023. If we must be honest with ourselves, it was clear that we were not ready to win this time around. Our preparation for the tournament was shoddy. We simply got there by chance, prompting Brown Ideye, who was part of the 2013 South African winning squad to say ahead of the tournament that the Super Eagles lacked the hunger and discipline to win a fourth trophy. “We have good players but we don’t have a team to win the AFCON now,” he said.  Ideye was absolutely right, as evident on Sunday when the Super Eagles put up their worst performance in the tournament. The statistics clearly confirmed the outcome: the Elephants of Cote D’Ivoire had better ball possession – over 60%, and better shots on goal – 8. Nigeria trailed behind, playing a highly defensive game that made no sense. We scored the only shot at goal. Our midfield was non-existent. People have been trying to blame Alex Iwobi in the midfield – but what can one man do? Others have said Osimhen could have played better. What do you want him to do? He is who he is because he plays for Napoli- a team that is structured differently. In Napoli, other players give him the ball. With the Super Eagles, he had to look for the ball himself and try to create chances for others. One man doing the work of three men!  Osimhen was completely marked out by the Angolans and the South Africans and in the finals, the Ivorians were determined to break his legs. Nigeria’s game plan looked stupid. The players were flat-footed. There was no creativity in the midfield. Patriotism took the better side of me when we qualified for the finals. We all have an obligation to support our country. I certainly agree with those who believe that this is not the end of the road for the Super Eagles given the circumstances. Win some, lose some. That is life. 

But what next? Morocco is the next venue of AFCON. The qualifiers will start in March 2024. We may have lost at AFCON 2023, but now is the time to begin to prepare for the next challenge. Serious-minded nations start preparing for the next tournament the morning after. They don’t wait till the last minute as we do in Nigeria. In AFCON 2023, South Africa fielded ten local league players from one home-based club – the Mamelodi Sundowns and they went away with the Bronze Medal, their very first medal in 24 years. We were lucky they didn’t beat us during the semi-finals. They outplayed Nigeria, and that is the truth, the same way Cote D’Ivoire outplayed us on Sunday. Nigeria must have learnt one big lesson and it is this: luck is not enough in international competitions. There is something extra teams bring to the table and we saw this with Cote D’Ivoire. Nigeria must begin to find that extra by working to build a team of the future. Jose Peseiro, the current manager, cannot help us in that regard. I don’t see the point in renewing his contract.   His contract has expired by the way. It had to be extended to cover the AFCON 2023, and now that we made it to just the finals, can we aim higher? It is even a shame that Nigeria over the years has not been able to develop enough local expertise to compete with the rest of the world, and yet the country has to make do with absentee, tourist foreign coaches. 

Whatever it was however, it must be possible for us to agree that success of any kind tends to bring out the best in all of us. When Nigeria does well, the people bond together, because we all want the same thing. As the Super Eagles advanced in AFCON 2023, they provided us all with useful distraction from the problems at home. Whenever we scored and won, nobody talked about the religion or the ethnicity of the player. Nobody cared where Victor Osimhen, Troost-Ekong, Lookman Afolabi or Moses Simon or Stanley Nwabali came from. At one viewing centre in Lagos, Governor Babajide Sanwoolu was shown leading a chorus of celebration when Nigeria beat Angola to get to the semi-finals. Some of the people at the viewing centre must have voted for Labour Party and the People’s Democratic Party (PDP) in the last election, but party affiliations were suspended for the objective of national glory. Nigeria needs to build on opportunities for such cohesion. And kudos to all the private sector units who helped along the way to bolster the excitement of the country’s participation: TotalEnergies, sponsored the tournament, MTN Nigeria too, Nigeria Breweries  set up viewing centres across the country with its Life, Zagg Malt and Goldberg brands,  the Lagos State Government had 29 viewing centres across Lagos State, and Glo/Otunba Mike Adenuga publicly identified with and supported the national aspiration  to win the trophy, and of course thank you, all Nigerians who suspended disbelief to cheer on your country. Five persons died in the process out of patriotic excitement. May their souls rest in peace. Now that the battle has been won and lost, we must now all return to the reality of our urgent dilemma: hyperinflation, poverty in the land, and the continuing search for good governance. The game is over, the struggle continues… 

Naira plunged to a record low on Monday after exchanging at N1,534.39 to a dollar at the official market segment.

According to data published on the FMDQ website, the local currency moved to an intraday high of N1000/$1 and a low of N1,550 to a dollar before it eventually settled at N1,534.39 at the close of business on Monday.

The rate implies a 4.38 per cent depreciation from the previous market sales on Friday last week.

On Monday, forex turnover at the authorised market stood at $89.61 million amidst increased demand and inflationary pressure across sectors of the country’s economy.

However, the dollar was exchanged at N1,489/$1 and above across parallel markets in the country as against N1,488 recorded in the previous session last Friday.

Based on this, it is the first time in months the naira will trade at a significantly lower rate at the official market than that of the unofficial market.

Financial experts suggest this could affect the rate at which individuals source dollars from the black market since they can get a better rate at the official window.

In a recent analysis of the naira following its continuous depreciation, Bismarck Rewane, Financial Derivative Executive Director, explained that the naira is depreciating due to low forex supply, and loss of confidence as a store of value.

The financial expert listed other factors causing the fall of the domestic currency including increased naira speculation and fear, restrictions and exchange rate control, as well as negative real interest rates.

The International Monetary Fund (IMF) has advised the Nigerian government to completely phase out costly fuel and electricity subsidies that are inefficient in reaching the most vulnerable.

“Fuel and electricity subsidies are costly, do not reach those that most need government support and should be phased out completely,” IMF said in a report.

This recommendation comes in a new report titled “IMF Executive Board Concludes Post-Financing Assessment with Nigeria,” published on Friday, February 9.

The IMF commended President Bola Tinubu’s administration for tackling structural issues by removing fuel subsidies and unifying exchange rates.

“The new administration has made a strong start, tackling deep-rooted structural issues in challenging circumstances. Immediately, it adopted two policy reforms that its predecessors had shied away from: fuel subsidy removal and the unification of the official exchange rates.

[NationalDaily]

Most Nigerians are tense and not at ease. The reasons are plausible. The scourge of hunger, spiralling inflation, insecurity, and a sense that the country is in distress stares us all. The cumulative effect of these is anger in the land. A combination of hunger and anger is a time bomb. It is the emotional underpinning of every populist revolt. 

There is absolutely nothing a hungry and angry man or woman cannot do. The signs are self-evident that the product of hunger and anger is upheaval. Ask the residents of Minna, Suleija, Kano and most recently Osogbo. They took to the streets last week to register their frustrations and distress on the level of hunger in Nigeria. Other cities may follow suit if the government does not respond promptly and concretely.

Nigerian workers represented by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have already given the federal government two weeks to implement policies that will reduce the impact of the government’s economic policies on citizens. 

The NLC and TUC said they are concerned about the “non-implementation of the 16-point agreement reached with the Federal Government on October 2, 2023.” “These agreements which were reached with the federal government were focused on addressing the massive suffering and the general harsh socioeconomic conditions prevalent in the land,” they added. Labour further acknowledged the fact that widespread hunger is now ravishing millions of Nigerians, with the workers’ purchasing power significantly eroded, while insecurity has assumed an increasing dimension. 

These harsh economic realities have widespread social implications, including increased crime rates and social unrest. We have increased poverty levels, making it difficult for individuals and families to meet their basic needs. Many people struggle to afford necessities such as food, shelter, healthcare, and education.

Nigeria’s economic hardship exacerbates existing social disparities. Vulnerable groups, such as women, children, and older people, are disproportionately affected. These demographics face increased challenges in accessing resources and opportunities causing   significant psychological toll on individuals. Anxiety, stress, and mental health issues are becoming more prevalent as people grapple with financial uncertainty and the challenges of making ends meet. This hardship strains social cohesion, increasing community tensions and contributing to social unrest or conflict as people express frustration over economic inequalities and lack of opportunities. Traditional community support systems have become strained as individuals and families face economic difficulties. Networks that once provided a safety net may find it challenging to cope with increased demands for assistance.

This economic uncertainty is negatively affecting investor confidence. Foreign and domestic investors are increasingly hesitant to invest in Nigeria despite the effort of the current government to woo them . This lack of foreign direct investment and local investments has led to a slowdown in economic growth. We are experiencing one of the worst exchange rate fluctuations in our history. Within one year, the exchange rate has increased by about 200%, which has devastated businesses, particularly those reliant on imported goods and services, and foreign investors considering the Nigerian market. 

Small businesses, which often form the backbone of many economies, face closure or reduced operations due to economic challenges. This directly impacts entrepreneurs and employees, leading to financial insecurity. And migration patterns are changing as many are either ‘japaing’ to faraway lands seeking better economic opportunities while others are internally displaced due to insecurity and banditry . This internal and external displacement has potential social and cultural implications for communities.

It may not have occurred to the leadership that the just concluded AFCON football tournament may have been the pause to a potential national upheaval. The emotional attachment of citizens to the game of football resonates. By the last count, as a country, we have lost not less than six persons during the Nigeria-South Africa semi-finals clash. Citizens may have channelled their emotional reaction to the economic hardship to their passion for football.

 It has been proven elsewhere that sports, in general, and football in particular, can relieve people in distress. It has put a pause in wars. It happened during World War One (1914), the Nigerian-Biafra Civil War (1968), and Côte d’Ivoire (2005). Although there is no consensus or empirical evidence yet, the love and passion for football have been an antidote to the potentially provocative reaction of Nigerian citizens to misery, anger, and hopelessness.

Psychologists have told us that football triggers a chemical known as endorphins, responsible for happiness and a relaxed mood. It promotes social bonding, community spirit, and a sense of patriotism that can help our anxiety. Football also acts as a distractor and relieves us from stress, the type most Nigerians are going through. In fact, “Football is the ballet of the masses”, as posited by Dmitri Shostakovich.

Football is more than just a game. It’s about life, struggle, and the beautiful moments that relieve us from our daily concerns. To the average Nigerian, football brings out 90 minutes of pure nationalism in us. In economic challenges, sports, especially football, provides a sense of unity and joy that transcends financial worries. The beautiful football game lifts  spirits, create camaraderie, and offer respite from economic anxieties. Football tournaments unite communities, fostering a sense of pride and joy that transcends economic challenges. The AFCON tournament entertained us and reminded us that, despite our differences, we can come together for a common passion.

It is not the narrative of government officials nor the ingenuity of “palace jesters” that have kept the country calm in the past few weeks. With AFCON  now over, it is time  the government acted fast to relieve the tension in the land. If the AFCON has brought welcome distraction, its end could unleash a collective depression from the present crises of hunger and poverty. Attention will return to domestic issues. Economic and existential problems will magnify. As hunger escalates, misery reigns, and prices of essential food items surge, the government cannot misread the morbid silence enveloping the land as normal. It is not. As seen elsewhere, the anger and hopelessness associated with this situation is a natural path to popular revolt. The government can get away with impunity but not with the chronic hunger of the ordinary man drawing complementarity from  the anger of the elite. 

The signs that danger lurks can only be ignored by all at significant risk to the country’s existence.

Addressing economic hardship requires honesty, inclusiveness, innovative thinking and sustained government and private sector efforts. Policy reforms, anti-corruption measures, diversification of the economy, and investments in education and infrastructure are some strategies that can contribute to economic recovery and long-term stability. Also, targeted interventions that focus on social welfare, education, healthcare, and community development are crucial to improving the well-being of individuals and fostering resilience in the face of economic challenges. Economic hardship and poverty are the worst forms of violence against the people. They are like punishment for a crime you did not commit.

The government must create an enabling environment to confront hardship and poverty. Franklin Roosevelt aptly posits, “The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.” And Mahatma Gandhi argued that “A nation’s greatness is measured by how it treats its weakest members.” 

AFCON was the opium of the Nigerian masses. It has come and gone with its glory, impact on our collective psyche, and the emotional relief it gave us during these harsh economic times. The emotional excitement about the nation is a passing mass phenomenon. It can only last long and linger afterwards if the populace feels the government has given them so much. The excitement of a football tournament turns into heightened anger soon after the excitement blows over if there is no realistic solution to the misery. The danger lies in the government assuming that post-AFCON, if nothing realistic is done to ameliorate the economic hardship millions of Nigerians face, things will continue as normal. That may be a pipe dream. With the opium effect of AFCON gone, many Nigerians will focus on demanding an improvement in their quality and standard of living. This demand may come in ways we never anticipated, as demonstrated by the uprising in a few flashpoint areas across the country. We must not allow this to happen, for it may not portend well for Nigeria. Now is the time to “let Nigerians breathe” and avert possible doom.

As the nation mourns the loss of Group Chief Executive Officer of Access Holdings PLC and philanthropist, Herbert Wigwe, who passed on in a tragic helicopter crash alongside his wife and son, Isiokpo, his hometown in the Ikwerrre Local Government Area of Rivers State, has declared seven days of mourning in honour of their illustrious son.

The declaration was made by the Nye-Nwe-Eli of Isiokpo, His Royal Majesty, Eze Blessing Ahiazunwo Wagor.
Starting Wednesday, the seven days of mourning will witness the closure of all businesses on the first and last day, with half-day operations on the other days.

[NaijaTimes]

The United Kingdom will today enter into new economic and trade partnerships with Nigeria to facilitate new opportunities in sectors such as energy, legal and financial services.  

The British Business and Trade Secretary, Kemi Badenoch together with her Nigerian counterpart Doris Uzoka Anitie- the Minister for Trade and Investment will put pen to paper in the first of its kind “Enhanced Trade and Investment Partnership (ETIP)” trade partnership with an African country. 

This is according to a statement by the UK’s Department of Business and Trade detailing the activities of the visit of Business and Trade Secretary, Kemi Badenoch to Nigeria.  

UK Lawyers to practise in Nigeria 

According to the statement, the new trade partnership aims to eliminate barriers in the legal services and film industry by allowing UK lawyers to practise international law in Nigeria and foster collaboration between the film and media industry in both countries.  

• It stated, “It will see Nigeria commit to working towards removing barriers preventing UK lawyers from practising international and foreign law in Nigeria, a step that could significantly increase UK legal services exports. It will also pave the way for further collaboration in the film and media industry and encourage world-leading UK education providers to offer high-quality education in Nigeria.” 

Total trade between the UK and Nigeria totalled £7 billion ($8.8 billion) in the year to September 2023.  

What the trade Ministers of both countries say 

Speaking on the agreement, Ms. Kemi Badenoch noted that the ETIP will unlock future opportunities for both countries and enhance trade relations with one of the biggest and fastest growing economies of the world.  

On her part, Nigeria’s trade Dr. Doris Uzoka-Anitie stated that the new partnership will move relations between both countries from mere historic ties to economic progress by opening market access for trade.  

• She said, “This partnership will see Nigeria-UK relations move beyond one of shared history and strong ties to one of shared economic prosperity. From increasing market access and supporting our vibrant businesses to creating more jobs and accelerating greater investments in sectors of mutual interests.” 

Visit to Finance Minister and CBN Governor 

During her visit to Nigeria, Ms. Badenoch will tour the location of a new Charterhouse school, marking the first UK independent school in West Africa.

Additionally, she will engage in discussions with the Governor of the Central Bank of Nigeria and the Nigerian Finance Minister to address trade barriers hindering UK businesses. 

[Nairmetrics]

The Deputy Senate President, Barau Jibrin, has urged state governors to release grains to the people to cushion the effects of the rising cost of foodstuffs.

Barau hailed President Bola Ahmed Tinubu for ordering the release of 102,000 tons of rice, maize, millet and others to address the high cost of commodities.

The federal government had through the Special Presidential Committee on Emergency Food Intervention, headed by the Chief of Staff, Rt. Hon Femi Gbajabiamila, on Thursday, ordered the release of 102,000 tons of grains to Nigerians. 

The Deputy Senate President, in a statement by his media aide, Ismail Mudashir, said the move would go a long way in cushioning the effects of the rising cost of commodities in the country. 

He urged states and local governments to emulate the federal government by releasing grains to the needy in the country. 

Barau said in the coming days, he would distribute rice to 200,000 households as part of his contribution to address the challenge.

“At this trying period, we should all support the federal government to address the challenges our country is facing. As we all know the rising cost of food is a global phenomenon and our country is not unaffected by it. 

“I, therefore, implore states and local governments to distribute food items to those in need across the country to cushion the effects of the rise in the cost of food items,” he urged.

[DailyTrust]

A deputy director in the Central Bank of Nigeria (CBN), Michael Onyeka Ogbu, has explained why the apex bank released $6,230,000 as payment to some international election observers prior to last year’s general election.

Ogbu, who is currently a Deputy Director and Head of the Service Delivery Division at the CBN, said the funds were released because the request documents contained evidence of approvals by the then President Muhammadu Buhari and erstwhile CBN Governor Godwin Emefiele.

The deputy director said this while testifying yesterday as a prosecution witness in the trial of the former CBN governor.

Emefiele is facing a 20-count amended charge filed by the Office of the Attorney General of the Federation (AGF) in which he is, among others, accused of engaging in criminal breach of trust, forgery, conspiracy to obtain by false pretence and obtaining money by false pretence.

He is, in the amended charge, accused of forging a document, titled: Re: Presidential Directive on Foreign Election Observer Missions, dated: January 26, 2023 with reference number SGF.43/L.01/201 and purported same to have emanated from the Office of the Secretary to the Government of the Federation (OSGF) to the governor of the CBN.

Emefiele is alleged to have, on February 8, 2023, knowingly obtained by false pretence $6,230,000.00 by falsely representing that the SGF vide a letter, dated: January 26, 2023, with reference number SGF 43/L.01/201 requested the CBN to provide a contingent logistic advance in the sum of $6,230,000 “in line with Mr. President’s directive”.

Ogbu, who was led in evidence by Rotimi Oyedepo (SAN), said he served as the Branch Controller until he was redeployed last September.

He recalled that on February 8, last year, there was a request for payment addressed to the Branch Controller.

Ogbu said after going through the documents and was satisfied, he minuted on it to the Head of Business Services Unit for processing and payment.

On whether the money was eventually released, the witness said: “Payment was eventually made. The $6,230,000 was paid on September 8, 2023. The payment was in cash.”

At that point, Oyedepo handed the witness a bundle of documents, which Ogbu identified as the documents he referred to.

Identifying each of the documents one at a time, the witness said the first page “is the payment slip, which was issued at the point of payment from my bank to the person nominated to receive the payment”.

He added: “The second page is the memo from the Banking Services Department authorising the branch to make the payment of $6,230,000.

“The third page is the request of the Director of Banking Services Department for approval of the Governor for the payment.”

The witness explained what pages four to six contained.

Ogbu told the court that the presidential approval was addressed to the then SGF, Mr. Boss Mustapha.

Oyedepo was about tendering the documents when he noticed that some of them were not properly certified.

The laywer prayed the court to be allowed to tender them as they were with a promise to replace them later with properly certified copies, a request the defence lawyer, Matthew Burkaa (SAN), rejected.

He also urged the court to grant him a stand-down of about 30 minutes to get the documents certified, which Burkaa also rejected.

Burkaa argued that it was impossible for the prosecution to have the documents certified within the 30 minutes Oyedepo requested for.

He urged the court to instead grant an adjournment to allow the prosecution sufficient time to put its house in order, an option the judge, Justice Hamza Muazu, felt comfortable with.

With the agreement of lawyers to parties in the case, Justice Muazu adjourned till February 13 for continuation of trial.

[TheNation]

Access Holdings Plc on Monday announced the appointment of Ms. Bolaji Agbede as the Acting Group Chief Executive Officer.

This follows the death of its former Group Chief Executive Officer, Dr. Herbert Wigwe.

Wigwe died in a helicopter crash alongside his wife, son, and a former chairman of the Nigeria Exchange Group, Abimboloa Ogunbanjo on Friday

A statement made by the company’s Board of Directors and dated February 12, 2024, stated that the appointment was subject to the approval of the Central Bank of Nigeria

“Further to its announcement dated February 11, 2024, the Board of Directors of Access Holdings Plc (‘the Company’) has today announced the appointment of Ms Bolaji Agbede as the Acting Group Chief Executive Officer of the Company following the unfortunate demise of its former Group Chief Executive Officer, Dr Herbert Wigwe, on February 9, 2024.

“The appointment is subject to the approval of the Central Bank of Nigeria,” the statement read in part.

Agbede who joined Access Bank in 2003 as an Assistant General, has nearly three decades of professional experience cutting across banking and business consultancy services.

She served in different roles at the bank including, Head, Group Human Resources between 2010 and 2022 before she was appointed the company’s founding Executive Director, Business Support in 2022, a role she held until her new appointment

She holds a Bachelor’s Degree in Mathematics and Statistics from the University of Lagos and a Masters of Business Administration Degree from Cranfield University UK in 2002.

She is also a member of the Chartered Institute of Management UK and the Chartered Institute of Personnel Management of Nigeria.

[Punch]