The United States of America billionaire and head of the Department of Government Efficiency, Elon Musk, has said51 the country must reduce federal spending to avoid slipping into bankruptcy.

Elon Musk disclosed this in a video he posted on his official X account on Monday.

According to him, all federal spending in the US stems from taxation, either through direct tax or inflation.

“All federal spending is taxation. It is either direct tax revenue or inflation (they just print money). We have to reduce federal spending, or we will go bankrupt as a country,” he stated in the short video.

This comes as DOGE-backed President Donald Trump had continued to ramp up investigation and review on spending across US federal agencies.

The US International Development Agency, Department of Treasury, Education, Health, Agriculture, and Defence are worse hit by DOGE’s sledgehammer aimed at cutting costs.

Earlier, DAILY POST reported that DOGE terminated 586 wasteful contracts across 10 federal agencies in the US valued at $2.1 billion

The Nigeria Police Force (NPF) says 11 suspects involved in cybercrimes targeting Japanese victims have been arrested, following a collaborative operation with the National Police Agency of Japan (NPA).

In a statement released on the X page of the PPF on Monday, Olumuyiwa Adejobi, the force spokesperson, said reports of five cybercrime cases were received and acted upon.

“On April 3, 2024, the NPF National Cybercrime Centre, working in conjunction with Nigeria’s National Central Bureau and the NCB Tokyo, received reports regarding five cybercrime cases linked to 13 identified threat actors operating from Nigeria,” the statement reads.

“The subsequent investigation led to the apprehension of eleven individuals and unveiled an extensive network that exploited social media platforms, particularly Instagram, to lure unsuspecting victims into fraudulent romantic relationships.

“Victims were duped into transferring funds through wire transactions, which were eventually converted into cryptocurrency and funneled to various digital wallets in Nigeria.

“The preliminary stages of the investigation yielded the recovery of $33,320, with ongoing efforts to reclaim additional stolen funds and dismantle the entire syndicate responsible for these crimes.”

Adejobi said the “Nigeria Police Force remains committed to using all available resources and emerging technologies to combat cybercrime and ensure public safety”

Joseph Oloyede, the Apetu of Ipetumodu in Osun state, has been taken into custody by the United States Federal Bureau of Investigation (FBI) after being indicted for conspiracy, wire fraud, and money laundering.

Oloyede was crowned as the monarch of Ipetumodu in 2019 but frequently travelled between Nigeria and the US for “royal and personal engagements”.

Indigenes began raising concerns after his throne was vacant for nearly a year.

He had reportedly missed three major traditional festivals, including the annual ‘egungun festival and Edi celebration’.

A statement issued by the US department of transportation said a grand jury indicted Oloyede and one Edward Oluwasanmi for conspiracy, wire fraud, and money laundering.

“The indictment alleges that Oloyede and Oluwasanmi fraudulently obtained over $4.2 million in COVID-19 relief funds guaranteed by the U.S. Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, including Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDLs),” the statement reads.

Oloyede and Oluwasanmi were arrested on April 5, 2024.

According to the indictment, from April 2020 through February 28, 2022, Oloyede and Oluwasanmi submitted PPP and EIDL applications containing false information for entities under their control.

They also allegedly submitted falsified tax and wage documents to support these applications.

“Oloyede received $1.7 million, and Oluwasanmi received $1.2 million in SBA funds for their businesses,” the statement added.

“Additionally, Oloyede submitted falsified PPP and EIDL applications in the names of other co-conspirators and confederate borrowers and their businesses.

“Oloyede obtained approximately $1.3 million through those applications, totaling at least $4.2 million obtained through the fraud.”

The statement said relevant US authorities, in collaboration with the Federal Bureau of Investigation (FBI) and the Internal Revenue Service Criminal Investigation, are investigating the case

Members of the Association of Resident Doctors at University College Hospital in Ibadan have embarked on an indefinite strike, an official said on Monday.

The association’s General Secretary, Dr Uthman Adedeji, told the News Agency of Nigeria in Ibadan, Oyo State capital that the strike was due to a power outage in some of the hospital’s residential areas.

NAN recalls that the Ibadan Electricity Distribution Company, reconnected UCH on Wednesday, after more than 100 days of power outage.

The association had earlier issued a communique that members would embark on an indefinite strike if electricity was not restored no later than 4 p.m. on Monday.

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Adedeji said while electricity had been restored, only some parts of the residential quarters were reconnected. 

He said, “Arising from the just-concluded Emergency General Meeting of ARD UCH which was convened to appraise the current situation, it was observed that a part of the residential quarters were reconnected.

“Some other parts were however left in darkness.

“In the light of the prevailing circumstance, we are left with no other option than to embark on the earlier planned total and indefinite strike until all residential quarters are sorted (taken care of).

“We acknowledge the efforts of the UCH Management towards meeting our demand, but a lot needs to be done to guarantee uninterrupted service delivery.”

Adedeji assured all that the association would regularly review the current imbroglio infringing on the welfare of its members

Residents of the Sedu 2 community in the Ogijo area of Ogun State are calling for an increased security presence, particularly from the Ogun State Police Command, following the discovery of a dismembered body of an unidentified woman on Sunday.

The command’s spokesperson, Omolola Odutola, confirmed the discovery of the dismembered corpse on Sunday and stated that an investigation was underway to track down those responsible for the gruesome act, suspected to be a ritual killing.

This incident comes just days after an Islamic cleric in Kwara State, Muhammed Bello, allegedly murdered his girlfriend, Hafsoh Lawal, and dismembered her corpse, whom he had met on Facebook.

PUNCH Metro gathered on Sunday that the headless body, with both hands severed and wrapped in a sack, was found in a fenced farmland within the community. 

The unsettling discovery was reported at the Ogijo Police Station on Sunday, at about 3:10 p.m. by some of the residents who spoke with PUNCH Metro.

Stating that preliminary investigations suggested the body was dumped at the location, Odutola disclosed that the crime scene was cordoned off and the remains of the deceased had been deposited at the Olabisi Onabanjo University Teaching Hospital in Sagamu for preservation and forensic examination.

Odutola also noted that the Commissioner of Police, Lanre Ogunlowo, had ordered a thorough investigation into the case to apprehend those behind the crime.

She emphasised that the CP urged parents and guardians to engage their children in security discussions at home, highlighting the importance of vigilance and community cooperation in crime prevention.

Speaking with PUNCH Metro, a resident who requested anonymity due to fear of reprisal, called on the police to conduct regular patrols to prevent such occurrences in the future.

“A member of the community saw a wrapped bag with blood dripping from it. When someone tried to check what was inside, a severed human hand fell out,” the resident recounted.

“They dismembered her body and brought it to our community. We need protection. We don’t want things like this to happen again.”

Another resident, who identified herself as Ronke, expressed shock at how the body was dumped without anyone noticing.

“Her head was cut off. Her two hands were severed. They squeezed her body inside the sack. It is difficult to identify her,” she said

There are some people who should not die, because of their goodness, their humanism, the great impact that they make within the community, family and sometimes, the nation at large. The death of good men or women diminishes us, a part of us leaves with them, but what endures ultimately is the lesson of their example. Two of such good men departed one after the other, within the last two weeks in the South West of Nigeria: Oba Adeleke Adelekan Idowu Basibo, the Alaperu of Iperu, on February 5, 2025, and Pa Ayo Adebanjo, journalist, lawyer, nationalist, politician, activist, Afenifere leader, Awoist and patriot on February 14. The respective families have formally announced their transition to the Great Beyond. Both illustrious sons and titans of Ogun State extraction were well known to me. I feel a deep sense of personal loss, and hereby join others in commiserating with their families, the people of Remoland and Ijebuland, the people of Ogun State, the Afenifere, Obidents and everyone in the larger Nigerian community who was privileged to have encountered their person, influence, and benefitted from the grace of uncommon measure which the Almighty bestowed upon both leaders and which they used, at various levels for the benefit of mankind and for the elevation of the human spirit.

There can be no one involved in Nigerian public affairs, politics and society and particularly activism that would not know Chief Ayo Adebanjo. For more than 70 years, he was an active and colossal presence in Nigerian politics, first at the regional level as a disciple of the late Chief Obafemi Awolowo, as a chieftain of the Action Group and its successor political parties and at the national level, Adebanjo was one of the strongest advocates for a just, equitable and fair society anchored on the principles of federalism and progressive politics. He shunned elective offices and political appointments, he was however, a loyal party man. He remained loyal to Awoism till the end, and to Awo in life and in death, and the principles that the sage espoused. Such level of loyalty is uncommon in these parts; such single-minded devotion is rare. Pa Adebanjo has told his own story in great detail in an autobiography titled “Telling It As It Is” (Ibadan: Bookcraft, 2018, 257 pp.) which was presented publicly on the occasion of his 90^th birthday on April 10, 2018 in his home-town of Isanya-Ogbo in the Ijebu Division of Ogun State.  I was the official book reviewer at the occasion. I wrote then, as follows, inter alia: 

“Born on April 10, 1928, barely six years after the Clifford Constitution and the first legislative elections in Nigeria, Adebanjo has lived through the finest and ugliest moments of Nigerian history: the constitutional processes, the struggle for independence, party politics leading to independence and after, the civil war, military rule, return to democracy, the struggle for the protection of democracy and civilian rule, and the bigger struggle of ensuring the survival and development of Nigeria.  He joined the struggle early in 1943, as a Zikist, as a follower of Dr. Nnamdi Azikiwe but in 1951, he became a member of the youth wing of the Action Group, and a mentee and political disciple of late Chief Obafemi Awolowo. This became the defining moment of his life and 67 years later, he has remained faithful to the ideals of that political party and the ideology/political philosophy of his mentor - that is Awoism. 

“As Adebanjo turns 90, what is to be celebrated is not necessarily his longevity, even if there may be lessons to be learnt from his life habits – he maintains a rigorous exercise regimen, a daily routine we are told which includes aerobic sessions, he neither smokes nor drinks, and for more than 60 years he has remained married to the same woman- but there are no hard and fast rules about longevity perhaps – some alcoholics live up to hundred, and some chronic womanisers outlive their own hubris- longevity, if I may essay a religious tone, is a matter of grace. Adebanjo has lived a true life of blessing and amazing grace. 

“In 1962, during the travails of the Action Group and Chief Obafemi Awolowo’s trial for treasonable felony, Adebanjo was charged for felony, along with 30 others. He had to flee to Ghana. He has been detained more than once for his political beliefs, but this has not altered his resolve.  Following the annulment of the June 12, 1993 election, which was won by Chief MKO Abiola of the then Social Democratic Party, Adebanjo was one of the chieftains of the National Democratic Coalition (NADECO). He joined protests, stood at the barricades and made his voice heard. Members of the democratic coalition and other groups in civil society were shot at, harassed, humiliated and their family members were intimidated. Used to the dangers of a political life in a dangerous society, Adebanjo’s resolve remains unshaken, even in the winter season of his life. 

“When he fled into exile in 1962, his father was arrested, detained and rough-handled by the state.  Many of Adebanjo’s colleagues have died in the course of the struggle. Some moved to the other side of the fence. Others adjusted in later life. The very essence of Chief Adebanjo’s politics lies in his consistency, his unwavering commitment to ideas rather than opportunism, his courage in the face of fire and intimidation, the life of sacrifice that he has lived, and his loyalty to Awo and Awoism. On this last score, he may in fact be described as the last of the original Awoists. 

“This emphasis on ideology, party politics, and Awoism is important, as an entry point into the interrogation of Chief Ayo Adebanjo’s politics. The kind of post-politics reality that has developed in Nigeria since the early 2000s has been a politics that is not driven by any ideology or principles or core beliefs, but by the desperate search for power by any vehicle possible. For this reason, there are many politicians in Nigeria today who cannot effectively articulate what exactly they believe in or stand for, and there are many of them who in less than a decade have used up to about five political platforms of disconcertingly contradictory impressions. This is probably the reason Chief Ayo Adebanjo has stayed away in the last few years from direct party politics. In 1951, he joined the Action Group, in the Second Republic, he was a member of the Unity Party of Nigeria, in the 90s, he was a member of the progressive democratic coalition; with the return to party politics in 1998, he was a member of the Alliance for Democracy which was more or less an Awoist party. When the AD seemed to have transmuted, or well, to have been compromised and something called the ACN emerged, Adebanjo kept his distance and functioned more as a leader of the Afenifere, the pan-Yoruba socio-cultural group, which till date seems more committed to the Awoist ideology…”

This principled stand, this consistency, was ever more evident during the 2023 general elections in Nigeria, and also in the politics of the Afenifere, the pan-Yoruba socio-political group. Disagreements within the Afenifere led to Chief Ayo Adebanjo leading his own core group within the body, while Pa Reuben Fasoranti led the other group. Chieftains of Afenifere often insist that the body was never factionalised, but it was obvious that Awo’s group had broken up into two different tendencies. Adebanjo never played pack-politics. He was never afraid to stand alone. He was a man of courage and he found many admirers and followers for his convictions. In the lead up to the 2023 elections, for example, he supported the candidacy of Peter Obi, Presidential candidate of the Labour Party. He could not be persuaded to support his own kinsman, Bola Ahmed Tinubu (APC) because he was convinced that it was the turn of Igbos to produce a Nigerian President in the spirit of equity and justice. Tinubu won and emerged as President but that did not stop Adebanjo from remaining an Obidient, as Obi’s supporters are known, till the very end of his life.  He could not be intimidated by parochial, ethnic sentiments. Pa Adebanjo was a friend of the media. He was an interviewer’s delight and he was one of our regular go-to resource persons at Arise News. He had many friends among the younger generations. He was everyone’s Papa, always battle-ready to hold robust discussions on national issues, either through phone calls, media appearances or press statements. One of his younger colleagues in politics whom he had criticized frontally in his 2018 autobiography once advised him to go and take a rest from activism. It is to his eternal credit that he remained active on the public stage until his walking stick failed him. It is sad, however, that the Nigeria of his dream did not materialize in his lifetime. His death on February 14, a day devoted to love and loving, is an important message that he has left behind. 

Alaperu Idowu Basibo, Apekun-Joye, Odoru V spent nearly 23 years on the throne of his ancestors. By March 30, 2025, he would have spent 23 years as the 21^st Alaperu of Iperu Remo in Ogun State. I was his biographer – a book titled “Alaperu: The Crown and The Glory” (Lagos: The Sales Brothers, 2022, 203 pp.). What makes his death even more shocking was that a few days earlier, Kabiyesi and I had spoken on the phone. He wanted me to speak with someone on a particular matter and he had said I was too far away; I should try to keep in touch more often. When I received news of his passing a few days later, I kept asking Prince Bola Basibo, his son, whether this was meant to be a joke, because I had spoken with the monarch recently and he was in very high spirits.  It wasn’t a joke. It was true.  He was 67. Death is the most treacherous fact of life. Its finality reminds us of the finiteness of our mortality. The late Alaperu was a cosmopolitan man, well-cultured, committed to his people, and progressive.  He was a modern monarch who had a Facebook page, and an Instagram page and who most actively supported the younger generation through a group called Iperu Millennials, a network of young men and women of Iperu-Akesan extraction who were encouraged by the town’s royal father to identify with their roots. They include the Sales Brothers, Oyinkan Fawehinmi, Tobi Fletcher (Ofada Boy), Olumide Soyombo, Christina Soname and a host of others.  He was also a friend of the elderly members of the community whom he actively encouraged to invest in the town and promote it, notably the Odole Oodua, Sir Kessington A. Adebutu. Prince Dapo Abiodun, Modele Sarafa-Yusuf, and all the friends that the traditional ruler attracted to the community, too many to be counted. 

Many Yoruba communities over the years have since added to Ifa consultations, and other considerations, a basic requirement that royal houses can only recommend for the throne, princes that are educated. Oba Basibo was a good example of having a man who can function in a modern setting as a traditional ruler. He was a graduate of The Polytechnic Ibadan, and the University College, London where he studied Marine Economics. He also obtained a Diploma in Shipping and Export Management from the Yaba College of Technology.  He had risen through the ranks at the Customs and Excise Department and was an established socialite in Lagos, looking forward to further advancement in his chosen career as a Customs Officer before his family came to drag him to become a traditional ruler.  It was an assignment that he eventually accepted with a determination to serve his people. In more than 22 years, Alaperu Basibo transformed the community from a rural settlement into a thriving investment destination, located within 50 miles from Lagos, an intersection between Abeokuta, Shagamu, and other towns such as Ogere, and Ode Remo. Kabiyesi Alaperu leaves behind a legacy of exponential growth and a standard that would be a source of inspiration and a challenge to whoever succeeds him from any of the other ruling houses – Amororo or Agbonmagbe in accordance with the Alaperu of Iperu Chieftaincy Declaration Law of 1958, and Section 20(1) of the Chiefs Law Cap 20 Law of Ogun State of Nigeria, 1978. 

The late Alaperu believed that traditional rulers should be given a role to play in the governance process and given their closeness to the people, they can help maintain peace and stability within communities by resolving land disputes or other matters of potential conflict. “The Government may hand over instruments of office to traditional rulers but it is the people who choose their kings”, he said. He did not believe in the idea of traditional rulers getting involved in partisan politics. But he was an apostle of federalism and the restructuring of Nigeria, better still a regional government system as in the 1963 Constitution and a leadership recruitment process that throws up capable and trustworthy persons who can move the country forward. In a society where disco-dancing, oshomo moneybags have found their ways onto traditional stools, and their conduct has become a subject of derision, Alaperu Basibo will be remembered for carrying himself with much dignity and grace.  Always well turned out, he had a kind word for every one that came across him. He brought respect to the Alaperu throne. He was a compulsive bridge-builder. He will be greatly missed. It now remains for the kingmakers in council – the Osugbo, Lopere and the Odi - to ensure that succession to the throne is rancour-free, and that the peace and stability that the late Alaperu restored to their “once warring community” and has left behind as part of his legacy is sustained. 

Death is a debt that all living things owe, and which they must pay when called to the Celestial Lodge above. We are told in Psalm 89: 48 - “No one can live forever, all will die. No one can escape the power of the grave.” Ecclesiastes 8:8: says “None of us can hold back our spirit from departing. None of us has the power to prevent the day of death. There is no escaping that obligation, that dark battle.”  Knowing this to be true about death, the public’s number one enemy, we must as a people of faith accept the fact of our own mortality, “momento mori”, and take solace in the worthy life of impact and illumination that Pa Adebanjo and Alaperu Basibo lived. Both men deserve to be celebrated and remembered. Their example should inspire the living. Thank you, sirs, for your friendship. Goodbye and goodnight…

Popular Nollywood actress Regina Daniels has deactivated her Instagram account, fueling speculation surrounding rumours that her husband, billionaire businessman and politician Ned Nwoko, has allegedly welcomed a child with her senior colleague, Chika Ike.

Social media has been abuzz with claims that Nwoko, who is married to six wives, Regina being the youngest, has secretly welcomed another child.

The rumours gained traction after Chika Ike recently announced her pregnancy, sharing maternity photos that sparked both congratulatory messages and controversy.

Adding to the speculation, Regina, known for publicly supporting her husband’s political career, was noticeably silent on his recent defection to the All Progressives Congress (APC).

She also did not post any Valentine’s Day tribute to him, which was a deviation from her usual social media activity.

Further fueling the reports, a check by our correspondent revealed that the 24-year-old actress’ Instagram account is no longer accessible with online sources suggesting that Chika Ike is allegedly set to move into the billionaire’s mansion, potentially replacing Regina.

As of the time of this report, neither Ned Nwoko nor Regina Daniels has responded to the rumours.

Nigerian billionaire cum lawmaker, Senator Ned Nwoko, has denied plans of marrying Nollywood actress, Chika Ike, and rumours of being responsible for her pregnancy.

Reports circulating on social media alleged that Chika Ike, who recently announced the birth of her baby with maternity photos on Instagram, is set to move into Ned Nwoko’s home. 

Naija News reports that amid the ongoing rumours, Nwoko’s wife, Regina, has deactivated her Instagram account.

However, in a statement on Monday through his Director of Communications, Ned Nwoko described purported plans to marry Chika Ike or being the one responsible for her pregnancy as entirely baseless and a product of malicious speculation.

The senator urged the public to disregard the rumours and warned media practitioners of the consequences of spreading fake news.

The statement read, “Our attention has been drawn to the recent false rumors alleging that Senator Prince Ned Munir Nwoko is planning to marry Nollywood actress Chika Ike as his seventh wife and that she is pregnant for him. We categorically state that these claims are entirely baseless and a product of malicious speculation. Similarly, reports claiming he made statements about Tuface and polygamy are completely untrue.

“As a public figure and with his wife also being an actress, it is not unusual for bloggers seeking attention to fabricate such stories. However, Senator Nwoko is currently on a national assignment, focused on delivering on his political mandate, and has no time for distractions. This office remains available to journalists for verification of information, and we remind media practitioners of the consequences of spreading fake news. The public is advised to disregard these rumors and rely only on official statements from his office.”

The Department of State Services (DSS) has clarified its involvement in the security takeover of the Lagos State House of Assembly, stating that its presence was requested by the Assembly itself.

In a statement on Monday, the DSS explained that it acted on a letter from the Assembly dated February 14, 2025, which sought additional security due to potential threats.

The letter, signed by Acting Clerk Mr. A.T.B. Ottun, cited credible intelligence suggesting plans to forcefully reinstate the impeached Speaker on February 18, 2025.

It stated, “The impeached Speaker of the Lagos State House of Assembly plans to resume office on the 18th of February, 2025, posing a potential security threat to the Assembly and its members. In light of this situation, we kindly request that you take necessary measures to fortify the security of the Assembly premises with effect from Sunday, 16th February, 2025, by increasing the presence of your men and observing strict access control within and outside the Assembly premises till further notice.”

DSS Assures Public Of Neutrality

The DSS noted that its deployment was to ensure order and protect Assembly members, emphasizing that its actions were based on the lawmakers’ request and not driven by external influence.

This development follows days of tension at the Assembly, where legislative workers clashed with security personnel amid the ongoing leadership tussle between Speaker Mojisola Meranda and impeached Speaker Mudashiru Obasa.

The DSS reiterated its commitment to upholding security and order without bias.

The local unit of Heineken NV, Nigerian Breweries, continued its FX-induced lossmaking for the second year last year as the manufacturer posted N144.9 billion in net loss after a devaluation of the naira last January caused its reporting currency to slump substantially.

It recorded the negative bottom line even though sales improved by 80.8 per cent, taking revenue to a new milestone of N1.1 trillion, according to its audited accounts issued on Friday.

The direct cost of production for the beer and non-alcoholic beverages maker rose to 70.5 per cent of turnover from 64.5 per cent as the cost of imported raw materials eroded revenue.

CEO Hans Essaadi said in April 2023 that imports accounted for almost half of Nigerian Breweries’ input costs, leaving it at the mercy of exchange rate swings.

The spending on raw materials and consumables more than doubled to N615.5 billion during the review period, underscoring the gravity of FX pressures.

“Foreign exchange volatility and limited access to foreign capital created additional hurdles for businesses, while the lingering effects of the fuel subsidy removal and Naira devaluation significantly increased operating costs across industries,” the company stated in its earnings release.

The consumer goods giant said it used the proceeds of its last year’s rights issue to “significantly reduce future currency risks.”

Naira, its reporting currency, saw one of its worst outings in years last year when it shed roughly 41 per cent of its value, complicating matters for import-dependent businesses already grappling with sky-high price levels.

Net loss on foreign exchange transactions stood at N157.6 billion, 2.8 per cent higher than a year ago.

But the reverberations of its foreign exchange woes even went far beyond its base Nigeria.

“Net revenue (beia) was dampened by a negative translation impact of €1,656 million, or 5.5%, mainly due to the devaluation of the Nigerian Naira, and depreciation of the Brazilian Real and Mexican Peso,” the parent Heineken remarked in its own financial report issued on Wednesday.

Heineken acknowledged Nigeria as one of the markets that drove a 1.6 per cent increase in its beer volume globally last year.

Net finance costs stood at N252.8 billion, up from N189.2 billion a year ago. Loss before tax went higher by one-fifth to N182.9 billion.

Last June, Nigerian Breweries announced the acquisition of an 80 per cent stake in Distell Nigeria, helping it branch out into the manufacturing of wines and spirits.