The nationwide protest held by Nigerians came to an end last Saturday after 10 days.

DAILY POST reports that organisers of the EndBadGovernance” protest said the demonstration was aimed at drawing the attention of the Federal Government to the hardship in the country.

One of the organizers and popular activist, Omoyele Sowore said Nigerians are asking the Federal Government to scrap the 1999 constitution and replace it with a people-made Constitution, return to the fuel subsidy regime, reduce the earnings of lawmakers, release Nnamdi Kanu, and leader of the Indigenous People of Biafra, among others. 

Sowore also demanded that present and past leaders be probed, restructure Nigeria, end banditry, terrorism, and establish a special energy immediately to drive massive corruption-free power sector development.

Also, he demanded the reconstitution of the electoral body, and massive shake-ups in the Nigerian judiciary to remove cabals of corrupt generations of judges and judicial officers.

DAILY POST reports that several deaths were recorded, while hoodlums, who hijacked the demonstration, wreaked havoc on some business owners and residents.

Addressing the protesters in a nationwide speech, President Bola Tinubu had urged them to call off the demonstration and brace up for negotiation with his administration.

Speaking, Tinubu said: “Under the circumstances, I hereby enjoin protesters and the organisers to suspend any further protest and create room for dialogue, which I have always acceded to at the slightest opportunity. Nigeria requires all hands on deck and needs us all – regardless of age, party, tribe, religion or other divides, to work together in reshaping our destiny as a nation.

“To those who have taken undue advantage of this situation to threaten any section of this country, be warned: The law will catch up with you. There is no place for ethnic bigotry or such threats in the Nigeria we seek to build.”

On his part, the Edo North Senator, Adams Oshiomhole said there was no need for the protest because Tinubu was doing everything within his power to solve the economic challenges facing Nigeria.

Oshiomhole said he does recognise anyone among those who called themselves organizers of the nationwide protest.

He said: “I know Sowore as a defeated presidential candidate. And when you’re defeated in an election, you wait for the man who won the election.

“Give him time. Sowore cannot be seen as speaking for the people because he is still nursing the pain of his defeat.

“So, that’s not the guy to speak for people in Kano, for those people who throw bombs in Maiduguri or those people who hijack cars in.”

Protest a success but Tinubu not sincere – Adeyanju

Commenting, constitutional lawyer, Deji Adeyanju described the 10 days nationwide protest as a success because Nigerians were able to make the Federal Government understand their demands.

Adeyanju also accused Tinubu of being insincere with his proposal to meet and negotiate with the organizers of the protest.

Speaking with DAILY POST, he wondered why Tinubu’s administration would arrest over 1,300 protesters and expect the organizers to meet with him.

He said: “The protest was extremely successful in the sense that the idea of protest is to draw the attention of the government to the societal ills and by so doing, the nation is able to address some of these challenges, especially when you have a government that listens to the people.

“Even before the protest started, it was successful because the government was aware of the protesters and knew what to do about their demands but failed to do the needful which was why the protest even held in the first place.

“Issues around reverting to the old fuel subsidy, cutting cost of governance, amendment of the constitution, and providing more security for the people, etc.

“The protest further emboldened freedom of assembly as enshrined in the constitution.

“Before the protest, the government at all levels, including the military, the police, even the Senate President, Akpabio, threatened people that it would not hold.

“The Presidency threatened people not to protest, even the traditional rulers joined the fray asking people not to protest in a democracy.

“So, the protest was largely successful, even though it has not come to an end yet. As long as hunger, insecurity and unemployment persist, this protest will continue.

“The president appeared uninterested in meeting the demands of the protesters; however, that is just postponing the evil day.

“These protesters are just asking for economic and political reforms, so they should be commended.

“Politicians are living large at the expense of the Nigerian people. It’s shameful that this Government has arrested over 1,300 protesters in a democracy; even the military did not arrest that much. Abacha will be so proud of Tinubu and his regime.

“Someone who said he was willing to meet with protesters was still arresting protesters two days after the demonstration. Is that the kind of person you want to meet with?

“You can’t meet such people. Tinubu’s government is very insincere and has arrested over 1,300 people. Tinubu has no intention of meeting with protesters.

“This government does not want protest, but they were the ones who protested against other governments. I see a bigger protest because as long as the issues affecting the people persist, then a bigger protest is inevitable.”

Protesters projected failures of Nigerian govt to the world – Lawyer Idam

Activist lawyer, Madubuachi Idam, said the protest succeeded in projecting the failures and ineptitudes of the Nigerian government before the international community.

He told DAILY POST: “Without gimmicks, I shall quickly say that the protests was a huge success, it could not have achieved a better result than the apprehension and anxiety that the protesters deposited with the government at all levels, having exposed their ineptitude and cluelessness before the international community.

“The message intended to be conveyed by the Endbadgovernance protests was well received by the authorities, whether or not the governments decide to play the ostrich and pay deaf ears to the yearnings of the protesters, is totally their own undoing which shall certainly not go without corresponding consequences at the right time, particularly during the polls.

“The only result that the Endbadgovernance protests did not achieve was a takeover of the government which was not intended and could not have been intended by the organizers of the protests nor the protesters themselves, knowing that a democratically elected government is and can only be changed through the ballot.

“The humiliation, mockery, ridicule and shaming, meted on the government by the reason of the protests, locally and internationally is one that no government would wish to experience.

“What more can a disgruntled citizen give in the expression of his displeasure towards a government that is totally unfrugal with public funds and clueless to basic economic principles if not the shame and ridicule it has exposed the government to by way of the protests.

“While I regret the casualties occasioned during the protest, I must say once more that the grievances of the citizens were well registered. Hence, the protest was a huge success.”

Protest yielded no result – Activist

A right activist cum chieftain of the Peoples Democratic Party, PDP, Austin Okai said the just concluded nationwide protest yielded no result because the president did not grant any of the protesters’ requests.

Okai, however, advised organisers to ensure they get coordinators who would be bold enough to meet with the president in person to discuss their demands.

“The protest was okay but I don’t know what it achieved because of all the demands they made, did the president grant anyone? No.

“The president has not granted any of the requests rather he was even appealing about making sacrifices.

“The funniest thing is that the subsidy will not come back again and the Minister of Finance said they are paying a higher subsidy than before, so why can’t it reflect at the filling stations? This leads to the question, who is the president paying the subsidy to?

“Some say there is refinery in Malta and that’s where they are paying the subsidy to; these are some issues that the president and his handlers must speak about.

“I’m sure there will be another protest because this one did not yield any results and the organizers should bring in coordinators who will communicate with the government by looking at the president and telling him what people are going through and not on a placard.

“They should have a leader who can meet with the president and tell him what people are going through,” he told DAILY POST.

President Bola Tinubu will on Wednesday, August 14, depart Abuja for Malabo, Equatorial Guinea, on a three-day official visit to honour the invitation of President Teodoro Obiang Nguema Mbasogo. 

President Tinubu will meet with the Equatorial Guinean President at the Presidential Villa on arrival, where meetings will be held between the two leaders and agreements, particularly on oil and gas and security, signed. 

The President will be accompanied on the trip by the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, and other members of his cabinet who will be involved in the signing of agreements and review of opportunities to improve bilateral relations. 

Chief Ajuri Ngelale

Special Adviser to the President 

(Media & Publicity) 

President Bola Tinubu has signed into law a bill seeking to increase the salaries and allowances of judges in the country by 300 percent.

The judicial office holders’ salaries and allowances bill, which was passed by the senate  in June, will allow the chief justice of Nigeria (CJN) to earn N64 million annually.

In a statement on Tuesday, Basheer Lado, special adviser to the president on senate matters, said Tinubu’s signing of the bill marks his “unwavering commitment” to the welfare of Nigeria’s workforce.

“This extraordinary move underscores Mr President’s absolute prioritization of the welfare of Nigerian workers above all else just like he did when he recently put on hold an ongoing Federal Executive Council meeting to assent to the new National Minimum Wage Bill of N70,000,” Lado said.

“In a demonstration of his visionary leadership and deep compassion for the Nigerian people, His Excellency President Bola Ahmed Tinubu GCON has once again affirmed his unwavering commitment to the welfare of the nation’s workforce by assenting to the revised Salaries and Allowances for Judicial Office Holders.

“This landmark decision reflects Mr. President’s profound dedication to ensuring that every salary earner in Nigeria, especially those serving in vital and strategic roles, receives the recognition and compensation they deserve.

“By prioritizing the financial well-being of our judicial officers, Mr. President is not only reinforcing the integrity of our justice system but also setting a new standard for leadership that truly values the hard work and sacrifices of all Nigerian workers.

“Under President Tinubu’s administration, the welfare of our workers has become a central pillar of national progress.

“His visionary policies continue to uplift the lives of millions, ensuring that the dignity of labour is upheld, and that those who serve our nation are justly rewarded.

“This assent is a clear testament to Mr. President’s tireless efforts to build a more prosperous and equitable Nigeria, where every worker is empowered to contribute to the nation’s greatness.

“As we look to the future with hope and determination, Mr. President remains steadfast in his mission to champion initiatives that deliver fair compensation, improved working conditions, and a brighter future for all Nigerians.”

Lado lauded Godswill Akpabio, president of the senate, and Tajudeen Abbas, speaker of the house of representatives, for their “patriotic commitment” to improving the welfare of Nigerians.

“The judiciary remains the hope of the common man and it is hoped that Nigerians seeking justice get it irrespective of their status in life,” he added.

The Bank Directors Association of Nigeria (BDAN) has called on the federal government to reconsider the recently imposed 70 percent windfall tax on banks’ earnings from foreign exchange transactions.

On July 17, the national assembly said President Bola Tinubu requested the amendment of the 2023 Finance Act to impose a one-time windfall tax of 50 percent on banks’ FX gains last year.

Tinubu said the windfall tax will be used to finance infrastructure projects, education and healthcare, among others.

The national assembly passed the bill on Tuesday and increased the windfall tax to 70 percent, with retroactive application from January 1, 2023.

The windfall tax has raised several concerns in the banking sector, particularly regarding its timing and potential impact on ongoing recapitalisation efforts — but Femi Otedola and Tony Elumelu backed the decision.

In a statement on Monday, Mustafa Chike-Obi, chairman of BDAN, described the levy as, “excessively burdensome and ill-timed”.

Chike-Obi, who is also the chairperson of Fidelity Bank, said the high tax rate could stifle growth and innovation within the banking industry, ultimately affecting the quality of financial services available to customers and the broader economy.

He also said there was a need for greater consultation and dialogue between the government and stakeholders in the banking sector before enacting such significant changes.

“We, the Bank Directors Association of Nigeria (LTD/GTE) wish to formally address the recent imposition of a 70 per cent levy on the profits realised from foreign exchange transactions by banks for the financial years 2023 to 2025,” he said.

“We acknowledge and respect the intentions of the government in implementing this decision; however, we feel it is essential to express our concerns regarding the magnitude of the levy, its timing and the ambiguities surrounding its implementation. 

“While the imposition of this windfall tax appears to be a response to the current economic climate, we suggest that a 70 per cent tax rate is excessively burdensome and ill-timed, particularly considering the ongoing bank recapitalisation efforts.

“Such a high levy has the potential to stifle growth and innovation within the banking sector; ultimately affecting the quality of services we provide to our customers and the broader economy.

“Moreover, we believe that it is vital for all stakeholders in the banking sector to have been consulted prior to the enactment of such significant changes in the Finance Act 2023. Open dialogue and negotiation are essential to ensure that policies are both equitable and effective.

“A primary concern lies in the ambiguities of the language in this amendment which leave critical questions unanswered. Such as, whether the windfall tax will be implemented as a Total Tax charge on banks, incorporating other taxes already levied such as Company Income tax, Tertiary Education Tax, National Information Development Levy (NITDL), etc.” 

The BDAN also asked that clarifications on what constitutes “FX transactions” to be taxed and the treatment of banks that may incur losses rather than gains during this period should be provided.

“We urge the government to provide clear guidelines on this matter to avoid further uncertainty,” the association added.

‘BANKS ARE HEAVILY TAXED’

The association also stressed that Nigerian banks are already among the most heavily taxed globally, citing the existing Asset Management Corporation of Nigeria (AMCON) levy imposed on total bank assets. 

BDAN urged the government to consider consolidating all taxes and levies on banks in the future to alleviate the sector’s tax burden.

“It would also be critical to reassure the banking community that future levies and taxes will not be arbitrarily imposed,” the association said.

“In view of these concerns, we respectfully urge the national assembly to revisit this amendment and engage in constructive discussions with stakeholders in the banking sector.

“By collaborating, we can develop a framework that effectively balances the need for revenue generation with the imperative of fostering a thriving banking environment that supports sustainable economic growth.”

The association said it remains committed to supporting and collaborating with regulators, government entities, and other stakeholders to find solutions that benefit all parties involved.