Ahead of the 2027 general elections, the All Progressives Congress (APC) says Mr Peter Obi and Mr Atiku Abubakar are desperate to be Nigeria’s President.

While Obi was the Labour Party’s presidential candidate in 2023, Atiku was the flagbearer for the Peoples Democratic Party (PDP).

Obi was Atiku’s running mate in the PDP during the 2019 general election.

Recently, there were reports of both opposition politicians coming to form an alliance that will sack the ruling APC in 2027.

Reacting to the development, the APC spokesman, Felix Morka, said Obi’s planned return to the PDP won’t be a surprise. He described the former Anambra State governor as a “political wayfarer that is only dwarfed by Atiku’s track record as a veteran political wanderer.”

“Atiku and Obi are united by their mutual desperation to be President of Nigeria and ignoble disdain for President Bola Tinubu’s focused and extraordinary commitment to the transformation of our nation,” the statement read.

“A recent visit by the presidential candidate of the Labour Party (LP) in the 2023 presidential election, Peter Obi, to his Peoples Democratic Party (PDP) counterpart, Alhaji Atiku Abubakar, has fueled speculations of a possible alliance between both men or merger of their political parties in the lead up to 2027.

“What is unclear, however, is whether Obi would make a comeback to Atiku’s PDP or whether Atiku would dump his PDP and seek rehabilitation in Obi’s Labour Party or whether both men would abandon PDP and Labour, altogether, and sojourn into the political wilderness of Professor Pat Utomi’s mega party.”

See the statement below:

ATIKU, OBI, UNITED BY MUTUAL DESPERATION

A recent visit by the presidential candidate of the Labour Party (LP) in the 2023 presidential election, Peter Obi, to his Peoples Democratic Party (PDP) counterpart, Alhaji Atiku Abubakar, has fueled speculations of a possible alliance between both men or merger of their political parties in the lead up to 2027.

What is unclear, however, is whether Obi would make a comeback to Atiku’s PDP or whether Atiku would dump his PDP and seek rehabilitation in Obi’s Labour Party or whether both men would abandon PDP and Labour, altogether, and sojourn into the political wilderness of Professor Pat Utomi’s mega party.

News of Peter Obi’s return to the PDP would be hardly surprising. His reputation as a political wayfarer is only dwarfed by Atiku’s track record as a veteran political wanderer. News of Atiku joining the Labour party will shock no one as he will be living up to his well established reputation as the country’s most itinerant politician. For now, Utomi’s mega party remains a figment with no offering of tangible accommodation for both men.

Atiku and Obi are united by their mutual desperation to be President of Nigeria and ignoble disdain for President Bola Tinubu’s focused and extraordinary commitment to the transformation of our nation. Their restless drift in search of convenient party platforms to execute their presidential run only belie the self-indulgent and opportunistic essence of their aspirations. Men without the staying power to build or fix their own parties, who flee at the slightest flicker of internal crisis cannot possibly be trusted by Nigerians to tackle serious and complex national political and economic challenges that confront our nation.

President Bola Tinubu embodies character, vision, tenacity and doggedness required to deliver a resurgent Nigeria of stable growth and development. The administration’s bold economic policy reforms and massive infrastructural uptake have already shattered historic barriers to growth, and paved the way for steady progress and development.

We urge Nigerians to stand fast in their invaluable support of our great Party and President Bola Tinubu’s determined commitment to deliver a stronger, secure and more prosperous country for us all.

Signed:

Felix Morka, Esq.

National Publicity Secretary

All Progressives Congress (APC)

The Central Bank of Nigeria has updated its regulatory guidelines for Bureau De Change operators.

After consulting with stakeholders, the following changes were made:

The mandatory caution deposit of N200m for tier-1 BDC licence holders has been removed.

Similarly, N50m for tier-2 licence holders has also been waived.


The non-refundable annual licence renewal fee has been withdrawn.

Previously, tier-1 BDCs paid N5m, while tier-2 BDCs paid N1m for renewal.

The bank noted that these adjustments aim to streamline BDC operations and enhance financial accessibility.


The Director, Financial Policy and Regulation Department at the apex bank, Haruna Mustafa disclosed this in a circular uploaded to the bank’s website on Wednesday.

Mustafa stated that existing BDCs must re-apply for a new licence based on their preferred tier or licence category as outlined in the guidelines.

New BDC licence applicants must meet the conditions specified for their chosen BDC category.

Existing BDCs must meet the minimum capital requirements for their selected licence category within six months from the effective date of the guidelines.

The guidelines also revised permissible activities for BDCs, ensuring alignment with market needs and regulatory standards.

Mustafa noted that the BDCs are expected to adhere to corporate governance requirements and anti-money laundering, counter-terrorism financing, and counter-proliferation financing provisions.

The bank added that receipt and processing of license applications will begin from the effective date of the guideline.

It said that interested applicants should submit the following information electronically to This email address is being protected from spambots. You need JavaScript enabled to view it.: Name of the promoter, Name of the proposed BDC, E-mail address of the promoter, Phone number of the promoter

These guidelines replace the Revised Operational Guidelines for Bureau De Change in Nigeria issued in November 2015 and all related circulars and directives.

The Regulatory and Supervisory Guidelines for BDC Operations take effect from June 3, 2024.

The circular partly read, “As part of reforms to re-position the Bureau De Change (BDC) sub-sector to play its envisioned role in the foreign exchange market in Nigeria, the Central Bank of Nigeria (CBN) issued the Draft Operational Guidelines for BDC Operations in Nigeria in February 2024, for stakeholder comments/inputs.

“Following the conclusion of the stakeholder consultations and in the exercise of the powers conferred on it by Section 56 of the Banks and Other Financial Institutions Act (BOFIA) 2020, the CBN hereby issues the attached Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria 2024 for compliance by all operators and promoters of proposed BDCs in Nigeria.

“The guidelines, amongst others, introduce new licensing requirements and categories of BDCs as well as revise the permissible activities, financial requirements, corporate governance requirements and AML/CFT/CPF provisions for BDCs.

“All existing BDCs shall: Re-apply for a new license according to any of the Tiers or license categories of their choice as provided in the Guidelines.


“Meet the minimum capital requirements for the license category applied for within six (6) months from the effective date of the Guidelines.

“Applicants for New BDC License Applicants for a new BDC license are required to meet the conditions for the grant of license in accordance with the Tier or category of BDC chosen as stipulated in the Guidelines. Receipt and processing of applications for license shall commence from the effective date of the Guidelines.”

George Akume, secretary to the government of the federation (SGF), says Nigeria has witnessed significant strides in various sectors of the economy since President Bola Tinubu assumed the reins in May 2023. 

The Tinubu administration has rolled out a slew of policies that have aggravated the economic hardship on Nigerians, notably the removal of subsidy on petrol and the “float” of the naira. Speaking at the ‘Ministerial Sectoral Updates’ in Abuja on Wednesday, Akume said the administration has also rolled out social intervention programmes to mitigate the hardship.

“I make bold to say that, Nigeria, under its present stewardship, has witnessed significant policy strides in various sectors including but not limited to,” the SGF said.

“i. The Presidential accent to the 2023 Electricity Bill, a move that dismantled monopolistic control over electricity generation, transmission and distribution at the national level and granted authority to State Governments, Corporations and individuals to generate, distribute and transmit electricity, thus decentralizing the power sector;

“ii. Accent to the passage into law of the Nigeria Data Protection Bill 2023 that established a legal framework for safeguarding personal information and promoting data protection practices in Nigeria; and

“iii. The challenging but very necessary Removal of Fuel Subsidy, a longstanding policy notorious for fostering corruption, inefficiency and imposing significant fiscal strain on the government annually, and primarily benefitting the affluent and smugglers, rather than effectively aiding the general populace.

“​It is apt to say that under President Tinubu’s stewardship within his first year in office, we have witnessed significant strides in various sectors of our economy.Through prudent fiscal policies and strategic investments, the Nigerian economy has shown resilience and potential for growth.

“The administration’s focus on infrastructure development, job creation and economic diversification has laid the foundation for sustainable progress and prosperity for all Nigerians. Furthermore, the government’s commitment to good governance and the rule of law has strengthened our democratic institutions and enhanced transparency and accountability in governance.”

Akume added that citizens should be part of nation building because it is not the sole responsibility of government.
“Let us therefore rededicate ourselves to the ideals of unity, peace and progress by working together towards realizing the full potential of our great nation,” Akume added.

Atalanta winger, Ademola Lookman, has said the 3-0 win over Bayer Leverkusen in the Europa League final on Wednesday is one of the “best nights of my life’.

Lookman scored twice in the first half and once after the break, as they became the first Serie A team to win the title.

The win also ended Leverkusen’s 51-game unbeaten run in emphatic style. 

Lookman, speaking to TNT Sports, said: “One of the best nights of my life.

“Amazing performance from the team, we did it, we did it, we did it! Not got much else to say but yeah fantastic.

“They do always say third time lucky, so yeah it is for us today [winning a final at the third attempt this season]. I’m just happy we won. We won today so yes very pleased.”

Tanzania holds the top spot with a debt-to-GDP ratio of 41.8%, reflecting its prudent financial decisions.

Contrary to common belief, the International Monetary Fund (IMF) has ranked Nigeria’s debt-to-GDP ratio, a key indicator of a country’s financial strength, as the second lowest in Africa, underscoring its economic stability.

This ranking underscores the importance of evaluating a country’s financial strength through metrics like the debt-to-GDP ratio.

A lower ratio suggests economic stability, while a higher ratio raises alarms about debt sustainability.

Tanzania, a model of careful debt management, holds the top spot with a debt-to-GDP ratio of 41.8%, reflecting its prudent financial decisions.

Nigeria follows closely with a ratio of 41.3%, signifying its crucial role in Africa’s economy, even though its external debt stood at $41.59 billion or N31.98 trillion as of December 2023.

Nigeria’s relatively modest debt levels are due to several reasons, including its diverse economic sectors and efficient debt management practices.

According to the Nigerian Tribune, the Debt Management Office (DMO) reports that Nigeria’s total debt is approximately N97.34 trillion.

Through careful debt management, Nigeria has maintained economic stability and boosted investor confidence, resulting in a favourable debt position despite its significant role in Africa’s economy.

African nations with low debt levels, like Nigeria, are not only more attractive to investors but also stand a higher chance of receiving additional financial support from global and local creditors, thanks to their reduced economic risk.

Nigeria’s higher ranking than Cameroon, Chad, Comoros, Equatorial Guinea, Guinea, Ethiopia, Botswana, and the Democratic Republic of Congo highlights its strong debt standing.

Former Commander of the Force Intelligence Response Team, DCP Abba Kyari, has been granted two weeks’ bail by an Abuja Federal High Court.

Naija News understands that Kyari was granted bail to enable him to return home and complete the burial rites of his late mother.

The court subsequently set Friday, May 31 for determination of his bail application in trial over drug-related charges filed by the National Drug Law Enforcement Agency, NDLEA following his arrest over two years ago on February 14, 2022

Kyari is currently facing drug-related charges filed against him by the National Drug Law Enforcement Agency (NDLEA).

The Kano State House of Assembly has insisted that there is no going back on plans to amend the law Abdullahi Ganduje used to dethrone Sanusi Lamido as Emir when he was the Governor of Kano State.

This was made public on Wednesday by a high-ranking official of the Assembly, who expressed confidence that nothing can prevent the lawmakers from amending the law.

Recalls the Kano State House of Assembly has decided to revise the state emir’s deposition and appointment law.

The motion was put forward by Hussien Dala, the majority leader and representative of the Dala constituency, during the plenary session on Tuesday.

In 2020, former Governor Abdullahi Ganduje removed Alhaji Muhammadu Sanusi, the 14th Emir of Kano.

Giving an update on plans by the current crop of lawmakers in the state to revise the law, the high ranking official of the Assembly informed BBC Hausa that they have been ready a long time ago.

He added that the assembly would consider and pass the amendment on Thursday.

He said, “We were ready for this longtime ago and Only God can stop this amendment. We wanted all these emirs to go 20 days after this administration was inaugurated but here we are. So tomorrow(Thursday) there would be special session of the assembly to consider and pass the amendment.”

A few members of the assembly, including Abdul Labaran Madari, informed BBC Hausa that 12 All Progressives Congress (APC) members are currently against the proposed amendment.

Their opposition is based on the condition that none of the 5 Emirates will be disbanded, and that the Emir of Kano, Aminu Ado Bayero, should remain in office without being replaced by Muhammad Sanusi.

Although the New Nigeria Peoples Party (NNPP) lawmakers in the assembly have sufficient numbers to make the amendment, the opposition members will voice their dissent.

Madari mentioned that the governing party has successfully finalized its strategy for dismantling the Bichi emirate and reinstating the ousted Emir Sanusi.

He mentioned that the remaining Emirates would have jurisdiction over three local government areas each.

An Ikeja Special Offences Court on Wednesday reserved judgment until Sept. 10 in the case of an American, Marco Antonio-Ramirez, charged with $1.2 million fraud.

The News Agency of Nigeria reports that Justice Mojisola Dada will also, on Sept. 10, deliver judgment in another charge bordering on $368,698 fraud against the same Antonio-Ramirez.

The Economic and Financial Crimes Commission (EFCC) had arraigned Antonio-Ramirez on an amended 16-count charge bordering on $1.2 million fraud.

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EFCC, in one of the counts, alleged that the defendant dishonourably converted to his personal use, an aggregate sum of $545,000 belonging to one Mr Godson Echegile.

The anti-graft agency also alleged that the defendant, between July 12, 2012, and Nov. 7, 2012, in Lagos, dishonourably converted to his personal use, an aggregate sum of $314,800 belonging to one Alhaji Abubakar Umar.

The commission also submitted that the defendant, between Feb. 19, 2013, and April 18, 2013, in Lagos, dishonourably converted to his personal use, an aggregate sum of $230,000, also property of Umar.

In the separate charge, EFCC alleged that the defendant obtained $368,698 fraudulently.

The defendant is charged on nine counts in the amended separate charge.

In one of the counts, EFCC stated that the defendant, with intent to defraud, obtained $250,000 from one Mr Gabriel Edeoghon under false representation that the sum was his investment in his company.

EFCC also allegsd that the defendant, with intent to defraud, obtained $50,281 from one Mr Oludare Talabi under the false representation that the sum was to procure U.S. L1 Visa, a representation he knew to be untrue.

Antonio-Ramirez, however, pleaded not guilty to the charges, on arraignment.

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The trial suffered several adjournments occasioned by absence of defence counsel, Mr Lawal Pedro (SAN).

However, adoption of final written addresses by counsel to both parties has taken place.

Following the adoption, the judge adjourned the two cases until Sept. 10 for judgment.

Chadian Prime Minister Succes Masra said he had handed in his resignation, just over two weeks after his defeat to junta chief Mahamat Idriss Deby Itno in presidential elections.

“I’ve just submitted my resignation and that of the transition government, which became irrelevant with the end of the presidential election,” Masra said on his Facebook page in a message authenticated by his team to AFP on Wednesday.

The move, he added, was also in accordance with the constitution.

Deby, 40, was proclaimed transitional president in April 2021 by a junta of 15 generals after his father, iron-fisted president Idriss Deby Itno, had been shot dead by rebels after 30 years in power.

He won the May 6 presidential vote with 61 percent of the ballot, according to final results.

Masra, also aged 40 and once a fierce Deby opponent before becoming prime minister four months ago, won 18.5 percent of the vote but contested the results.

He claimed victory in the ballot, which his party called a “masquerade” and which international rights groups had said would be neither credible nor fair.

The immediate-past National Vice Chairman of the ruling All Progressives Congress APC, Salihu Moh. Lukman has written President Bola Tinubu, threatening a lawsuit against the leadership of the party for serial violations of its constitution.

In the letter dated May 21, 2024 and titled ‘APC and Subversion of Nigerian Democracy’, Lukman said he was compelled to write the letter since the party is operating almost blindly without recourse to provisions of the APC Constitution.

According to him, it was deeply concerning to note that the APC since inception in 2013 has operated without a Board of Trustees BoT.

He said, “Meetings of organs as specified by relevant provisions of the APC Constitution are not taking place. Decisions, which established organs of the party are expected to take, are being taken by individual leaders outside those organs.

“One of the critical organs, the Board of Trustees, which is renamed National Advisory Council has not been inaugurated since the formation of the APC in July 2013. With such reality the National Working Committee NWC of the party has appropriated the powers of all organs and in its name the National Chairman is taking discretionary decisions.

“With such reality, many of the decisions taken not only violate sections of the APC Constitution but also undermine Sections 221 — 229 of Part Il of the 1999 Nigerian Constitution as amended as well as the Electoral Act 2022.

“As things are, we have been regressing democratically as a nation. Due to inability to comply with statutory provisions regulating the conduct of political parties, we are embarrassingly running governments that don’t value principles of consultations and respecting valid agreements contracted through diligent political negotiations.

“Consequently, all the serial decisions taken without references to organs of the APC and complying with subsisting internal agreements have resulted in outright violation of relevant provisions of the 1999 Nigerian Constitution as amended, which imposes the requirement to ensure the establishment of an inclusive governments at all levels.

“As a committed member of APC and as someone who has worked hard and made so many sacrifices for the growth and development of the party, I find our current reality highly unacceptable. I have made several requests to meet with you for more than a year now since your election as President of the Federal Republic, which, perhaps understandably, you have been unable to grant.