Centre for Law and Civil Culture (CLCC) has urged National Assembly to set up an independent inquiry into the killing of 17 officers and soldiers in Delta State on March 14.

It called on National Human Rights Commission (NHRC) to probe the incident to prevent a recurrence.

In a statement by Executive Secretary, Abdul Imran, and Deputy Legal Adviser, Oyinkansola Chukwu, the centre said the police should lead the investigations.

“The Army cannot objectively investigate the killings. It is police responsibility.

“CLCC calls on the police not to abdicate its constitutional and statutory responsibility,” it said.

The centre urged the Army to exercise caution and ensure innocent people are not punished for the offence they knew nothing about.

It said Delta State governor, police and other security agencies as well as the press should be given access to the troubled community. 

Describing the killings as “cruel and barbaric”, CLCC commiserated with the Army and the bereaved families.

[TheNation]

The Institute of Chartered Accountants of Nigeria has expressed support for the move of the Senate to probe the Ways and Means loan to the Federal Government under the administration of former president, Muhammadu Buhari.

 In February, the Senate constituted a nine-member ad hoc committee to probe the disbursement and usage of the N30tn Ways and Means loan obtained by the Buhari administration from the Central Bank of Nigeria.

Speaking with journalists recently, the ICAN President, Dr Innocent Okwuosa, welcomed the inquiry by the upper legislative chamber and called on the  CBN Governor, Yemi Cardoso to learn from the mistakes of past CBN bosses.

 ICAN President said, “Our expectation is that with the new administration, borrowing will be a thing of the past. However, I will advise CBN should continue to extend Ways and Means to the government but the CBN itself has stated that it will not continue to extend Ways and Means to the government. In fact, this is a good policy from our perspective. So, if CBN should stick to not increasing the Ways and Means that it gives to the government, that’s a policy that we support.

 “I think it is a Fiscal Responsibility Committee that placed a limit on what Ways and Means percentage would be. It’s something around five per cent. When CBN exceeded this, people kept quiet. They should have spoken up so that CBN does not continue to exceed this limit. Now, it is not five per cent, we are talking about N30tn, that’s huge. I understand it’s been converted into bond. But one good thing we support is the fact that the Senate has instituted an inquiry into those Ways and Means. I would guess that the investigation would lead to more revelation and would be a lesson which the present CBN would learn from and would not go into the mistake of the previous CBN.”

Okwuosa urged the CBN to seek alternative means to support government deficit financing and discontinue increasing Ways and Means to the government.

He said, “They could go to the capital market and tie them to projects because each time you have a government deficit, it must be as a result of not having funds to back a project. So, if we want to raise funds for such a project, we (can) do that in the capital market and tie it specifically to the project that we couldn’t provide funding for in the budget. I think that’s the way CBN should go.”

Okwuosa also said that Nigeria would earn more forex if the nation promoted exports to African countries and took advantage of Africa’s free continental trade agreement.

 “If we can also promote trade in Africa, assuming we cannot export to Europe, since we have an Africa Continental Trade Agreement that has come into place. It can be utilised, but we need to utilise it more. I think a combination of all these will increase foreign exchange for us and we begin to see the impact on the exchange rate,” he added.

[Punch]

IT is in the genre of fairy tales. A virtually unknown 43-year-old in 2023, makes a Facebook post alleging that Macky Sall, the ubiquitous President of his country, Senegal, was trampling on the fundamental rights of citizens. His post was in support of jailed opposition leader, Ousmane Sonko and the manipulation of the judiciary to send him to prison for allegedly colluding with terrorist groups, instigating insurrection and endangering state security.

Now, Sall, backed by the power and might of super power, France, was not a man to annoy. For his insolence, Bassirou Diomaye Faye, was seized and thrown into jail like Sonko. It was to intimidate those who opposed the autocrat.

Then, events began to move at a dizzying pace independent of those who sat in prison or the Presidential Palace. Sall was following in the footsteps of fellow French stooge in Africa, Alassane Ouattara of Cote d’Ivoire. The latter is on an unconstitutional and illegal third term in office. However, Sall failed in his bid to run for an unconstitutional third term. He then devised an insidious way to remain in power; simply postpone the presidential election indefinitely. That was his greatest undoing.

Although backed by the Senegalese parliament, state power, external forces and the quiet acquiesce of many West African Presidents, he could not impose his will as power had left the Presidential Palace for the streets. The dictates of the streets as expressed by popular mass protests was that the election must hold and, Sall must leave at the expiration of his tenure on April 2, 2024.

The parliament, bowing to the pressures of the mass, on Wednesday, March 6, 2024, granted amnesty to political detainees. Clearly in order to reduce the electoral chances of Diomaye and give the ruling party candidate and former Prime Minister, Amadou Ba, better chances, Sall did not release the opposition leaders from prison until Thursday, March 14, that is ten days before the Sunday, March 24, 2024 presidential election. Diomaye was on the ballot as Sonko had been barred. His message to the people was simple: “Diomaye is Sonko”.

The campaign against him that he never held any high office, was never a parliamentarian, minister and as such, has zero leadership experience, counted in his favour. He has never been part of the rot that saw Senegal to its underdeveloped and malnourished state. He emerge as a ‘Mister Clean’. Who better to midwife change than a person who has not been part of the rotten past?

The man who was sitting in prison while other candidates were campaigning, and whose face was virtually unrecognisable, emerged from the shadows and was given a one-way ticket to the Presidential Palace by the electorate. He received more than 54 per cent of the vote, while Amadou Ba came a distant second with over 35 per cent and, third placed candidate, Aliou Mamadou Dia, won 2.8 per cent. Diomaye said: “By electing me, the Senegalese people have chosen to break with the past. I promise to govern with humility and transparency.”

Diomaye is now set to send President Sall packing for the good of the Senegalese and African people and to the glory of humanity. For me, in order to strengthen democratic principles and make dictatorship unattractive, Sall should be tried for his manifest crimes. First, he endangered Senegal by subverting democracy, including the fundamental rights of the people to freedom of movement and fair hearing. Secondly, he illegally detained people without a right to have their day in court. Thirdly, his government reportedly murdered at least 20 Senegalese for daring to protest against growing dictatorship. Fourthly, he illegally dissolved the opposition, Patriots of Senegal, PASTEF, party. Fifth, for unilaterally, unconstitutionally and illegally postponing the February 25 presidential election. Sixth, for illegally attempting to extend his presidential tenure by postponing the presidential election and handover date indefinitely.

The Senegalese did not vote for Diomaye, a man they hardly knew or could recognise. Rather, they voted for an idea, for hope and for a desired future. The pathway to that future, according to the Pan Africanist President-elect, include constitutional changes which will separate the judiciary from the executive, drastically reducing the powers of the President, including creating the office of the Vice President. It includes an uncompromising war against corruption and drastic reduction of the 20 per cent unemployment in a population of 17 million.

But the ultimate goal, is to snatch the sovereignty of the country from France; a sort of second independence that would transform the flag independence Senegal was given on August 2, 1960, to a real independence that would include economic, financial and social independence from France. The plan of the emergent powers in Senegal include a currency change from the French-controlled CFA Franc because, as Diomaye argues: “There’s no sovereignty if there’s no monetary sovereignty.” Although the proposed currency transition might have been made easier by the September 16, 2023 decision of Mali, Burkina Faso and Niger to exit the Franc and establish a new common currency, the Eco, Senegal would need to be tactical as its funds are in the bowels of the French Central Bank.

Other plans include renegotiating mining rights as Niger recently did with spectacular economic gains and, revisiting energy contracts as Senegal is set to become an oil producing country this year.

These are the real issues that would define the Diomaye Presidency; whether it will be a success or a failure like that of Sall. The steps will also determine whether France and its Western allies would allow Senegal develop or try to strangulate it by little veiled sanctions, vile propaganda, falsehood, instigation or even coup.

Interestingly, Senegal is the only country in the 16 West African countries that has never witnessed a coup. But faced with real change and a shrinking neo-colony made smaller by the military revolts in Guinea, Mali, Burkina Faso and Niger Republic, France would do anything to keep Senegal, a subservient neo-colony like Cote d’Ivoire.

Whatever it is, in the fog of uncertainty across Africa, including wars and dictatorship, Senegal has lit a fire to give us some illumination. As it is, Senegal itself has little time as Diomaye’s presidency begins on April 2, 2024 heralding a possible new age for Africa.

In the past two decades, West Africans have clamoured for change from the rotten past. In some cases, the change was stalled, in some, it was delivered through the barrel of the gun. However, what Senegal has shown us is that, despite the odds, true change can be delivered through the ballot box. But there is a caveat: as United States President John Kennedy said on March 13, 1962: “Those who make peaceful revolution impossible will make violent change inevitable.”

•Int’l commercial banks get N500bn as minimim
•National Commercial banks N200bn
•Banks given 24mths deadline

The top five banks have a shortfall of N1.5 trillion to meet the new minimum capital base announced yesterday by the Central Bank of Nigeria, CBN for international commercial banks.

In a statement yesterday, the CBN unveiled new minimum capital requirements for banks, raising the minimum capital base for commercial banks with international authorisation by 900 per cent to N500 billion from N50 billion.

Confirming this in Abuja, yesterday in a statement, the Acting Director, Corporate Communications Department, Mrs. Hakama Sidi Ali said the new minimum capital base for commercial banks with national authorisation is now 200 Billion, representing 700 per cent increase from N25 billion.

She also disclosed that the new requirement for commercial banks with regional authorization has been raised to N50 billion, representing 400 per cent increase from N10 billion.

Mrs. Sidi Ali also disclosed that the new minimum capital for merchant banks would be N50 Billion, while the new requirements for non-interest banks with national and regional authorisations are N20 Billion and N10 Billion, respectively.

A circular signed by the Director, Financial Policy and Regulation Department, Mr. Haruna Mustafa, to all commercial, merchant, and non-interest banks and promoters of proposed banks emphasized that all banks are required to meet the minimum capital requirement within 24 months commencing from April 1, 2024, and terminating on March 31, 2026

According to the circular, the move, initially disclosed by the CBN Governor, Olayemi Cardoso, in his address to the Annual Bankers’ Dinner in November 2023, was to enhance banks’ resilience, solvency, and capacity to continue supporting the growth of the Nigerian economy.

To enable them to meet the minimum capital requirements, the CBN urged banks to consider inject fresh equity capital through private placements, rights issues and/or offers for subscription; Mergers and Acquisitions (M&As); and/or upgrade or downgrade of license authorisation.

Furthermore, the circular disclosed that the minimum capital shall comprise paid-up capital and share premium only. It stressed that the new capital requirement shall not be based on the Shareholders’ Fund.

“Additional Tier 1 (AT1) Capital shall not be eligible for meeting the new requirement. Notwithstanding the capital increase, banks are to ensure strict compliance with the minimum capital adequacy ratio (CAR) requirement applicable to their license authorisation.

“In line with extant regulations, banks that breach the CAR requirement shall be required to inject fresh capital to regularise their position,” it added.

The CBN circular said the minimum capital requirement for proposed banks shall be paid-up capital, adding that the new minimum capital requirement shall apply to all new applications for banking licenses submitted after April 1, 2024.

It noted that the CBN would continue to process all pending applications for banking licenses for which a capital deposit had been made and/or an Approval-in-Principle (AIP) had been granted. However, it said that the promoters of such proposed banks would make up the difference between the capital deposited with the CBN and the new capital requirement no later than March 31, 2026.

Meanwhile, the CBN said all banks are required to submit an implementation plan (clearly indicating the chosen option(s) for meeting the new capital requirement and various activities involved with their timelines) no later than April 30, 2024. The CBN also disclosed that it would l monitor and ensure compliance with the new requirements within the specified timeline.

Top banks and capital shortfall

Under the new minimum capital requirement, each of the top five banks namely Access Bank, FirstBank, GTBank, UBA and Zenith Bank must have N500 billion as a minimum capital base.

The CBN however said the minimum capital requirement is limited to paid-up capital and share premium.

Consequently, the five banks are supposed to have combined paid-up capital and share premium of N2.5 trillion.

Vanguard findings, based on the latest financial results of the bank showed that the combined paid-up capital and share premium of the top five banks amounted to N1.037 trillion, representing a shortfall of N1.472 trillion.

Based on the stipulation of the CBN, Access Corporation, the parent company of Access Bank has paid-up capital and share premium of N251.811 billion according to its 2023 full-year result released yesterday hence a shortfall of N248.189 billion.
FBN Holdings, the parent company of FirstBank has paid-up capital and share premium of N251.3 billion, hence a shortfall of N248.66 billion, according to its Q3’23 results

The paid-up capital and share premium of GTHoldco, the parent company of GTBank stands at N138.186 billion as of Q3’23, hence a shortfall of N361.814 billion

UBA has paid-up capital and share premium of N115.815 billion, hence a shortfall of N384.185 billion according to its Q3’23
Zenith Bank has a paid-up capital and share premium of N270.745 billion, hence a shortfall of N229.255 billion.

[Vanguard]

President Bola Tinubu has appointed Abdullahi Usman Bello as the Code of Conduct Bureau (CCB) chairman.

In a statement issued on Thursday, Ajuri Ngelale, presidential spokesperson, said the appointment is pending confirmation by the senate.

Ngelale said, “Tinubu believes that Bello will lead the bureau with utmost integrity toward the realisation of its mandate of maintaining high standards of public morality in the conduct of government business”.

“Dr. Bello is a consummate professional with more than 25 years of work experience in consulting, banking, law enforcement, financial services, and academia,” the statement reads.

Bello is an assistant forensic accounting and auditing professor at Northumbria University, United Kingdom, his profile on LinkedIn revealed.

If his appointment is confirmed by the senate, it will lay to rest, the leadership tussle in the bureau.

In November 2023, Murtala Kankia, the acting chairman of CCB, debunked the claim that Ehiozuwa Agbonayinma, a former member of the house of representatives, had been appointed to replace him at the bureau.

Earlier, a letter purportedly signed by George Akume, the secretary to the government of the federation (SGF), announced the appointment of Agbonayinma by Tinubu as the chairman of CCB.

But in an internal memo released by Kankia and sighted by TheCable, the acting chairman of CCB described the letter as “fake, misleading and does not emanate from the office of the secretary to the government of the federation”.

Kankia had said he is the most senior ranking member of the bureau, adding that he remains the acting chairman of the agency until further directives from the president.

[TheCable]

Suspected hoodlums have set ablaze the Neni Police station in Anaocha Local Government Area of Anambra state.

Armed assailants also allegedly ignited flames at the Anaocha Local Government Headquarters, chanting hostile songs directed at the Divisional Police Officer (DPO).

A few days earlier, gunmen had attacked the Awgbu police station, resulting in the deaths of two officers, while another narrowly escaped.

According to sources, the assault on the local government headquarters occurred between 3 am and 4 am today (Thursday).

The Nation equally gathered that the hoodlums whisked away some police operatives, including female police personnel at the police station.

The source said the hoodlums alleged that Anaocha Police Station had become another SARS station.

When contacted, the Public Relations Officer (PPRO) of the Anambra state police command, SP Tochukwu Ikenga confirmed the incident.

He stated that though the hoodlums attacked the police station with IEDs (Improvised Explosive Devices), they however, did not take away any arms, and did not whisk away any police personnel.

He said the hoodlums were successfully repelled by the superior firepower of the police operatives who engaged them and forced them to flee.

He further said the police operations were still ongoing in the area as of the time he was reacting to the development.

 He promised to communicate further developments on the incident later.

On the killing of the policemen at Awgbu police station by the gunmen, he refused to react to it, but a senior officer confirmed it to The Nation.

The source said the command was on the trail of the hoodlums, adding, “They want to scare those ready for the Easter holidays, but we are ready for them.”

A resident, who preferred anonymity, informed The Nation that gunmen had been conducting operations in several villages unknown to many, suggesting that Anambra was not as secure as some had assumed.

[TheNation]

President Bola Tinubu has called on religious leaders to refrain from vilifying or denigrating the nation in their sermons.

Speaking during Ramadan Iftar with traditional rulers and religious leaders at the State House on Thursday in Abuja, the President emphasized the important role of religious leaders in shaping public opinion and fostering a sense of unity among citizens.

He urged the leaders to be more constructive in their criticism of those in elective positions.

President Tinubu also declared that his administration is determined to turn Nigeria’s challenges into prosperity.

He reiterated that no terrorist can defeat the collective will of Nigerians, no matter how hard they try to prey on innocent citizens.

He urged traditional and religious leaders to forge a strong bond with the government to defeat terrorism, banditry, kidnapping, and other forms of criminality in the country.

''Yesterday in Abuja, I attended the burial of the 17 soldiers killed in action at Okuama, Delta State. I saw their pregnant wives and little kids.

''The love of the nation is in your hands. Pray for our country. Educate our children. The sermons we preach to the members of our churches and mosques are important.

''Do not condemn your own nation. As a Yoruba man and as our fathers will say, ‘no matter how slippery the bottom of your child is, you must leave the beads there.’

''Leave the beads there. This is your country; do not condemn it in sermons, do not abuse the nation. Leadership is meant for changes.

''Yes, this leader is bad, fine. Wait until the next election to change him, but do not condemn your country. Do not curse Nigeria. This is a beautiful land.

The President, who acknowledged the birthday wishes and goodwill extended to him on the occasion, reminded the leaders that his birthday on March 29, 2024, coincided with Good Friday.

''I have earned the honour of having my birthday fall on Good Friday, and I pray that on this Maundy Thursday, you all shall return to your homes safely. May God guide and keep you and your families in good health, and lift your spirits,'' the President prayed.

Different speakers at the dinner expressed gratitude for the opportunity to come together in the spirit of Ramadan to share a meal with the President and renew the bonds of friendship that unite the nation.

Vice-President Kashim Shettima emphasized the pivotal roles of religious and traditional rulers in promoting peace and unity, urging them to continue to ‘‘build bridges that transcend ethnic and religious divides.’’

The Vice-President expressed delight that the nation’s economy is on a rebound, noting the strengthening of the naira against the dollar.

''The President means well for the nation, and he has continued to redefine the meaning and concept of modern leadership.

''For many years, fuel subsidy was an albatross. The President took a bold decision from day one, and he hit the ground running. Now the economy is turning the corner," the Vice-President said.

Speaking on behalf of the Traditional Rulers Council of Nigeria, the Ooni of Ife, Oba Adeyeye Ogunwusi, assured the President of the unwavering support of traditional rulers, and commended the government's efforts to address the hike in food prices and the security challenges.

''You are not alone, Mr. President. The prices of food items and goods are gradually coming down. You are doing your best on security, and we cannot allow you to do it alone. We will join hands to support your vision to the betterment of our nation,'' the Ooni said.

Ambassador Ahmed Nuhu Bamalli, Emir of Zazzau, speaking on behalf of the Nigerian Supreme Council for Islamic Affairs (NSCIA), highlighted the significance of Ramadan as a period of reflection, empathy, and unity.

On the security situation in the country, the Emir of Zazzau, who represented the Sultan of Sokoto and President General, NSCIA, expressed optimism that the country will return to peace and stability.

''I am happy to see representatives of Muslim and Christian communities in this room. I pray God Almighty blesses the President for him to do more to take the country to the Promised Land,'' the Emir prayed.

Apostle Samson Fatokun, General Secretary of the Christian Association of Nigeria (CAN), noted that the Ramadan dinner with religious and traditional leaders, coincided with Maundy Thursday, the Thursday before Easter, observed in commemoration of Jesus Christ's institution of the Eucharist during the Last Supper.

The General Secretary, who delivered the address of CAN President, Archbishop Daniel Okoh, commended President Tinubu for fostering a harmonious relationship between the State and the Church.

''We are encouraged that your administration has shown great determination in tackling the challenges of kidnapping and banditry and bringing to justice the perpetrators of this dastardly act.

''We shall continue to show our support to your administration so that you can execute your noble intention for the nation,'' CAN General Secretary said.

Chief Ajuri Ngelale

Special Adviser to the President

(Media & Publicity)

March 28, 2024

The abducted Editor of FirstNews Newspaper, Segun Olatunji, on Thursday, recounted his ordeal at the hands of the military personnel who abducted him from his Lagos home.

Military authorities had earlier on Thursday, yielded to pressure and released Olatunji, who was abducted from his home in Lagos State on Friday, March 15,  2024.

The PUNCH confirmed that he was released to some media stakeholders, including Yomi Odunuga of The Nation newspaper and Iyobosa Uwugiaren of Thisday Newspaper in Abuja after sustained pressure from the media.

They were asked to guarantee that they would make Olatunji available if needed again.

The International Press Institute, the Nigeria Guild of Editors, and Olatunji’s employers had in separate statements faulted his incarceration, asking authorities to either release the editor or charge him to court.

Narrating his ordeal after his release at a press briefing organised by the leaderships of the Nigerian Guild of Editors, Nigeria Union of Journalists  and IPI in Abuja, Olatunji said he was blindfolded and flown to the Federal Capital Territory where he was moved to a cell in handcuffs and leg chains for almost three days.

He said, “Someone came claiming to be from the military. He identified himself as Colonel Lawal. Immediately, he seized my phones.

“I went to the room to dress up. By the time I got downstairs, I saw soldiers inside the compound taking positions. Outside the gate, I saw about three vehicles with Air Force personnel, Army, Defence Intelligence Agency, and others all fully armed.

“I was handcuffed and taken straight to the office of the National Air Defence Corps where we waited for three hours. I did not know that they were waiting for an aircraft to pick me up to Abuja.

“When the aircraft landed, I was blindfolded and moved to the aircraft, and we landed in Abuja shortly. I was leg cuffed also. They removed my clothes and I was left with my boxers. I was taken to Cell 9.

“There, I was left with leg and handcuffs. And at a point, one of the officers came and tightened the right leg and the right hand, and I was there groaning in pain. They did not loosen it until about two or three days after.

“Up till now, I could still feel the pains in my hands and legs.”

Olatunji said those behind his ordeal were close to the government based on the questions he was asked.

He added, “They were asking me questions about certain stories that FirstNews had published.

“They first told me that I was one of those abusing the Chief of Defence Intelligence (Major General Emmanuel Undiandeye). They did not say much about that.”

He said they also asked him about a story FirstNews had published about the Chief of Staff to President Bola Tinubu (Mr Femi Gbajabiamila), which he described as a “major thing”.

“That is why I told some people earlier that those behind my arrest are people in the corridors of power who are not happy with FirstNews is doing and are bent on taking their own pound of flesh,” he added.

[Punch]

The Federal Airports Authority of Nigeria (FAAN) says it has shut down Kentucky Fried Chicken (KFC), an international fast food restaurant chain, at the Murtala Muhammed International Airport, Lagos, over discrimination against a passenger.

On March 27, Debola Daniel, son of Gbenga Daniel, former governor of Ogun state, had posted on his official X page about his experience at KFC, MMIA branch.

According to Daniel, the restaurant had stopped him and his family from entering, stating that “no wheelchairs were allowed”.

“Just as we were about to sit, the lady at the till – who was apparently the manager – called out loudly, ‘No Wheelchairs Allowed’,” he posted.

“She refused to listen to reason and stood her ground that at kfcnigeria Murtala Muhammed branch, wheelchairs and wheelchair users of all shapes and sizes were not permitted in the premises and we should leave immediately.

“I have never been the type of person to make a fuss or complain about my disability.”

Reacting to the development in a statement on Thursday, Obiageli Orah, director, public affairs and consumer protection at FAAN, said the authority had investigated the matter and made their decision.

Orah added that the shutdown will take effect from today, March 28.

“In line with Lagos State law on people with special needs, Part C, section 55 of General Provisions n Discrimination which states that, ‘A person shall not deprive another person of access to any place, vehicle or facility that members of the public are entitled to enter or use on the basis of the disability of that person’,” FAAN said.

“The management of the Federal Airports Authority of Nigeria (FAAN) has closed the KFC facility at the Murtala Muhammed International Airport in Lagos with effect from March 28, 2024.

“This is as a result of a social media report by a Passenger with Reduced Mobility (PRM), alleging discriminatory treatment he received at the Murtala Muhammed International Airport, Lagos.

“The MD/CE of FAAN, Mrs Olubunmi, Kuku intervened swiftly by deploying a management team comprising the Director, Public Affairs and Consumer Protection,  Mrs Obiageli Orah, the Regional  Manager  South West, Mr Sunday Ayodele, Ag. General Manager Public Affairs, Mrs Ijeoma Nwosu-Igbo and the International Terminal Manager, Mr Kerri, to investigate the allegation. 

“It is based on the findings of the team that FAAN  has shut down the KFC facility at the MMA, where the incident occurred.”

Orah said the authority has instructed KFC management to tender an unreserved apology, in writing, to the affected PRM and a policy statement of non-discrimination be written and pasted conspicuously at the door post of their facility at MMIA before it resumes operation.

The authority also apologised to Daniel and assured all airport users that they will continue to work tirelessly to ensure that the rights of every passenger are not infringed upon.