The Nigerian government has said the N50,000 Conditional Grant Scheme to Nigerians is ongoing as 150,000 of one million targeted citizens have received disbursement.
The Minister of Trade and Investment, Doris Uzoka-Anite, disclosed this in a recent statement through her official X handle.
“Grant disbursements are ongoing; 150,000 of the 1 million targeted payments have been issued as of this week.
“If you’re verified and awaiting funds, we appreciate your patience. For full transparency, a list of all beneficiaries will be released upon completion,” she said.
The grant disbursement, which commenced last week, is part of the President Bola Ahmed Tinubu administration’s effort to cushion the impact of fuel subsidy removal.
The Presidential Conditional Grant Scheme announced a portal for registering interested beneficiaries in December last year.
The media office of Yahaya Bello, former governor of Kogi state, has described claims that the American International School Abuja (AISA) intends to refund $760,000 of school fees paid in advance as a “mischievous narrative”.
On April 26, documents in which AISA asked the Economic and Financial Crimes Commission (EFCC) to provide “authentic banking details” for the refund of fees paid for the children of Bello, made the rounds online.
In a letter addressed to the Lagos zonal commander of the EFCC, the school said the sum of $845,852 has been paid in tuition “since the 7th of September 2021 to date”.
AISA said the sum to be refunded is $760,910, because it had deducted educational services already rendered.
On April 23, Ola Olukoyede, the EFCC chair, had said Bello paid $720,000 in advance as fees for five of his children from the coffers of the Kogi state government.
However, in a statement signed by Ohiare Michael, the ex-governor’s media office said “Yahaya Bello’s children have attended the American International School, Abuja, since before he became Governor, and he has paid their fees as due without fail”.
The statement added that Bello did not use Kogi state funds to pay the fees.
“He did not pay USD720,000 or USD840,000 as alleged. The payment commenced in 2021, not when he was leaving office,” the statement reads.
“He did not use Kogi State Government funds to pay the fees.
“The EFCC’s attempt to recover funds from the school was unsuccessful, and the court mandated the school to continue providing services.
“The documents published online are public documents filed in court and show that Yahaya Bello has nothing to hide.
“The payment is the subject of an ongoing court case, and we await the EFCC’s proof in court.”
Michael added that Bello will not be intimidated by blackmail.
“We will not engage in prejudicial statements while the matter is sub judice,” the statement reads.
“We thank Nigerians who recognize the EFCC’s desperation as personal vendetta.
“We implore others not to be misled by mischievous narratives but to follow the case until justice is served.
“Yahaya Bello will not be intimidated by blackmail and will continue to follow due process.”
On April 17, EFCC operatives laid siege to Bello’s residence in Abuja in an attempt to arrest him over an alleged N80.2 billion fraud.
While the operatives were at the house, Usman Ododo, governor of Kogi, arrived at the property and reportedly whisked Bello away.
The EFCC has since declared Bello wanted, with the NIS placing the ex-governor on a watchlist.
By - ABDULRAHMAN ZAKARIYAU
From the build-up to the aftermath of the 2023 election, the primary opposition political entity, the People’s Democratic Party, has been mired in internal turmoil marked by leadership disputes, suspensions, and legal battles. Tranquility reigned within the PDP until the 17 presidential hopefuls of 2023 started voicing their intentions and pursuing their agendas, sparking internal discord within the primary opposition party.
Matters intensified when the former governor of Rivers State and Minister of the Federal Capital Territory, Nyesom Wike, was defeated by the former Vice President, Atiku Abubakar in the party’s presidential primary in 2022.
The situation in the party took a fresh dimension when Atiku announced former Delta State governor, Ifeanyi Okowa, as his running mate for the recent presidential election, going against the recommendation of ex-governor of Benue State, Samuel Ortom, and other influential figures who favoured Wike as the PDP’s vice presidential candidate.
As a result, the party splintered into two factions; the Wike G5 group and Atiku’s group, each pursuing its objectives. The G5 faction insisted on the resignation of the currently suspended PDP National Chairman, Iyorchia Ayu, as a condition for supporting Atiku in the 2023 presidential election.
However, Atiku’s faction rejected this demand and instead reluctantly accepted the resignation of the Board of Trustees Chairman, Senator Walid Jibrin. Wike’s faction also opposed this decision and conducted several press conferences, divulging information that further tarnished the already tarnished reputation of both the party and the PDP’s 2023 presidential candidate.
While other political parties were gearing up for the elections, the conflict between Wike and Atiku dominated discussions within the PDP. This resulted in conflicting strategies during the election, ultimately leading to its (PDP) defeat against President Bola Tinubu’s All Progressives Congress. Efforts to unite both factions ahead of the presidential election hit a roadblock, as the Atiku and Wike camps refused appeals from party leaders and members to mend their differences.
After the election, tensions between the Atiku and Wike factions escalated, leading to the suspension of some members and legal action taken against the party by others. The crisis peaked when Ayu was ordered by Justice W. I. Kpochi of the Benue State High Court to cease acting as the party’s chairman.
In the interim, the National Working Committee, by the court ruling and the party’s 2017 constitution as amended, appointed Ambassador Umar Damagum, the Deputy National Chairman (North), as the acting national chairman of the party. Damagum, who sought to maintain neutrality, also faced significant challenges in stabilising the PDP. The conflict between the Wike and Atiku factions has deeply impacted all facets of the party, including the NWC, PDP Governors’ Forum, National Executive Council, BoT, and others.
These obstacles, among others, have impeded the PDP’s capacity to present a cohesive stance on national issues. Additionally, the recent 98th NEC meeting was fraught with tension as the Atiku and Wike factions vied for dominance, failing to address key issues crucial for the party’s future direction.
Regarding these national issues, numerous state party chapters are also grappling with crises. In Kaduna State, disagreements involve former Vice President Namadi Sambo, ex-governor, Ahmed Makarfi, and the 2023 governorship candidate, Isah Ashiru. Similarly, internal conflicts plague Kano and Yobe state chapters of the party.
In the North-Central, the PDP chapter in Niger State is striving to reclaim its influence. Internal discord in Plateau State nearly resulted in the party losing its governorship position in court. Prolonged internal disputes have left the PDP seemingly inactive in Kogi and Kwara states.
The North-East region faces its challenges, with chapters in Borno, Yobe, Bauchi, and Gombe encountering obstacles. Members and stakeholders from these states impede the party’s progress due to their vested interests.
In the South-West, Governors Seyi Makinde of Oyo and Ademola Adeleke of Osun have succeeded in stabilising the party in their respective states. However, Ekiti, Ondo, Lagos, and Ogun states are experiencing significant crises.
In the South-East, aside from the recent disagreement over the position of PDP National Secretary, which sparked a conflict among party leaders, chapters in the five states of the zone are embroiled in internal strife and numerous legal battles. On Tuesday, former Imo State governor, Emeka Ihedioha, and 11 others resigned from the party.
Explaining why he dumped the PDP after 26 years of membership, he said, “Regrettably, in recent times, the party has taken a path that is at variance with my personal beliefs. Despite my attempts to offer counsel, the party is, sadly, no longer able to carry out internal reforms, enforce its own rules, or offer credible opposition to the ruling All Progressives Congress.
“It is in the light of the foregoing, that I am compelled to offer my resignation from the Peoples Democratic Party effective immediately. While the decision was difficult to take, I, however, believe that it is the right one,” he added.
Due to the prolonged internal crisis, the PDP is gradually losing ground in the South-East to former Anambra State governor, Peter Obi’s Labour Party.
The PDP chapters in the South-South have recently faced negative publicity. The crisis between Wike and Rivers State Governor, Sim Fubara, has destabilised the PDP, along with the defection of 27 state House of Assembly members from the PDP to the APC. Many party leaders are also defecting from the PDP to the APC and other parties. In Cross River and Edo states, the PDP is mired in internal conflicts.
Amidst all these challenges, the PDP continues to grapple with numerous legal battles with no end in sight. The Legal Adviser of the PDP, Kamaldeen Ajibade, stated that the party was currently facing multiple court cases.
A Senior Advocate of Nigeria, in a telephone interview with Saturday PUNCH, urged party members to exhaust the party’s internal conflict resolution mechanisms before resorting to court.
The SAN, who does not want his name mentioned because of the sensitive nature of the issues affecting the PDP, stated, “It is part of our constitution; it has always been part of the founding principles of the party that internal mechanism should be explored before going to court. Taking the party to court without exploring the internal conflict resolution mechanism is an offence.
“We have a record of cases in court. We have cases that are on internal issues aside from election and pre-election matters in all courts; Federal High Court to Supreme Court.”
Damagum, discussing his leadership approach recently, clarified that the party prioritised reconciliation and attracting more individuals into the party over penalising anyone for alleged anti-party activities, which, in his view, could harm the party.
He said, “They are always telling you these people are not doing the right thing. But when you are in a position of leadership, you are bound by a set of rules, and these rules, even though they are itching you, you don’t apply them; not because of anything, but so that you don’t destroy the house.”
The acting PDP national chairman added, “I am very proud to say that this party was started by me as a driver. Today, I am the acting national chairman by the grace of God. I have never calculated that I will be given this title. I believe in this party; I believe that this party is the best in this country.
Damagum, who admitted that many members were involved in anti-party activities at different levels, said, “If I say we should start suspension, I will end up suspending many people because they were involved in anti-party activities. So, please bear with us. We intend to keep this party together and to manage it. This is my mandate.
“When a substantive chairman comes, he can decide to suspend or dismiss anybody. But myself as somebody who loves this party, somebody who started this party, I think we need even those from the other side to come back and join.”
As Damagum leads the NWC of the PDP, the delay in making crucial decisions to address internal crises is a cause for concern. Political analysts worry that the party may lose members to the APC and the LP, and potentially diminish its influence in future Nigerian elections.
‘Crisis may consume PDP’
Political analyst, Jide Ojo, and former national chairman of the National Democratic Party, Chudi Chukwuani, cautioned that the internal crisis currently plaguing the PDP might engulf the party if genuine efforts were not made to reconcile all aggrieved members.
In an interview with our correspondent, Ojo said, “The internal crisis may consume the PDP if not urgently addressed. In politics, the only permanent thing is interest. Part of the crisis is because there’s no peaceful transition from one NWC to another; you have people who were either removed or resigned.
“The PDP is still the main opposition party considering the number of states under its control, 13 out of 36. APC has 20; then you have the New Nigeria People’s Party, All Progressives Grand Alliance, and LP having one under their control. So, in terms of structure and size, you will give it to the PDP as being the main opposition party, but the PDP is plagued with internal crisis.”
Ojo wondered why the party won’t be in crisis, saying, “It has been over one year since Ayu was removed. They still have an acting chairman. So, the NWC has not been able to perform at an optimal level. The internal crisis is affecting the growth of the PDP. So, there is an urgent need for the party to reconcile. The general election has been over since February, March 2023. Why couldn’t the PDP have a convention and appoint or elect a substantive chairman? There is an urgent need for the Damagum-led NWC to be active and be seen working towards genuine reconciliation. The NWC also needs to liaise with the 13 PDP governors to see how they can move the party forward.
“The PDP can choose to be different by the way they go about their task or responsibility. In their respective states under their control, at the leadership level in Abuja; how united are they? For them to be able to engage constructively with the ruling party, there are many distractions. The party needs to do things professionally so that when they organise party primaries, they are without rancour and contention. Due process is followed. When they go on campaigns they are united. Where there is a crisis, they reconcile because there is no political party without internal wrongdoings. So, having a leadership crisis is not unique to any party. Almost all the parties are involved. But how the party will emerge from that crisis and how it will manage it is very key.”
In an interview with our correspondent, Chukwuani told Saturday PUNCH that being plagued with a crisis would not make the PDP credible, adding that nobody would want to invest in the PDP because of the crisis. The political analyst urged the PDP to get the party leadership right for Nigerians to enable them to perform effectively as an opposition party.
He stated, “Yes, of course, when a party is in crisis, that party normally does not succeed. The party that succeeds is the party that can manage its affairs, avoid crises, and be united before elections. You need that unity to get the best of your political class along with you for elective offices and to come along with you and invest in you. Nobody will invest in a crisis-driven political party; that would amount to a waste of your time, energy, or money.
“So when a party is in crisis, it doesn’t augur well at all. And nobody will take the PDP seriously; the party cannot mount an effective opposition. The PDP can best be described as an empty shell divided into pieces. To reposition itself, the PDP has to put in place intact leadership; a party without a leader is no party. So, the leadership has to be put in place as quickly as possible. The leadership has to work together and be united. When they have that united leadership, then the PDP can build up all the other structures of the party.”
Reconciliation ongoing – Scribe
Reacting, the PDP National Publicity Secretary, Debo Ologunagba, who confirmed that the party was grappling with an internal crisis, revealed that reconciliation efforts were ongoing. Ologunagba explained, “Human organisation is not in a straitjacket. Some dynamics happen. As a party, we believe that even if we have issues before the election, we must continue to accommodate each other.”
He continued, “There are issues, but reconciliation is ongoing. As I always say, there are issues even in a family setting. There are issues in the PDP, but reconciliation in a human organisation like our party is constant because every step cannot meet the taste of everyone at the same time. So, reconciliation is ongoing.
“On a final note, I want to remind you that this party relies on its constitution, and we will obey it to the letter. I can tell you that this party is focused. We will lead the charge to sustain this democracy to ensure that we have a true federal system where fairness and equity, human resources, and management of the affairs of the nation exist; that is our vision. People come to parties and go. The PDP will remain strong and united to rescue and rebuild Nigeria.”
Meanwhile, one of the most notable outcomes from the 98th NEC gathering, which holds potential advantages for the PDP, is the establishment of committees focused on reconciliation, disciplinary actions, and constitutional amendments.
At the meeting, the NEC designated former Senate President, Abubakar Saraki, as the head of the Reconciliation Committee, former governor of Akwa Ibom State, Udoh Emmanuel, as the chair of the Disciplinary Committee, and the PDP Legal Adviser, Kamaldeen Ajibade, SAN, as the leader of the Constitution Amendment Committee.
Political pundits commended the NEC for these appointments, emphasising that while reconciliation and disciplining of errant leaders were crucial for promoting party supremacy, amending the party’s constitution could prevent the recurrence of many crises plaguing the party.
As a result, political observers hold the view that individuals appointed to these committees by the party, along with the approach they take in carrying out their duties, will dictate whether the party achieves the peace it desires or continues to struggle with crises that could lead to its downfall or extinction.
[STATE HOUSE PRESS RELEASE] President Tinubu Appoints Chief Executive Officers of Two Agencies
AdminPresident Bola Tinubu has approved the appointment of Dr. Innocent Bariate Barikor as the Director-General of the National Environmental Standards and Regulation Enforcement Agency (NESREA).
The President has also approved the appointment of Prince Ebitimi Amgbare as the Managing Director/CEO of the Niger Delta River Basin Development Authority (NDRBDA).
Dr. Barikor is an academic and politician. He was a member of the Rivers State House of Assembly from 2011 to 2015, while Prince Amgbare is a retired naval officer and former commissioner in Bayelsa State.
The President expects that the new heads of these important agencies will discharge their duties with utmost fidelity to the nation and unfailing adherence to the highest standards of professionalism, accountability, and excellent service to the people of Nigeria.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
[STATE HOUSE PRESS RELEASE] President Tinubu Appoints Jim Ovia as Chairman of The Nigerian Education Loan Fund
AdminPresident Bola Tinubu has approved the appointment of Mr. Jim Ovia, CFR, renowned banker and businessman, as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND).
Mr. Ovia is the founder of one of Nigeria's leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds and of ensuring that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
April 26, 2024
…Says Ekiti Governor has made immeasurable Impact on Citizens
The Nigeria Governors’ Forum (NGF) has congratulated Ekiti State Governor, Mr Biodun Oyebanji on the recent transfer of the electricity regulatory oversight by the Nigerian Electricity Regulatory Commission (NERC) to the Ekiti State Electricity Regulatory Bureau.
The NGF, in a congratulatory letter signed by its Director General, Asishana Okauru, said the transfer was a major achievement and “significant milestone” in the tenure of the Biodun Oyebanji-led administration in Ekiti State.
Hailing Governor Oyebanji for his “dedication, hard work and unwavering commitment to the service of Ekiti State” the NGF said it is proud of the Governor who has undoubtedly made positive and immeasurable impact on the lives of the people of the State.
While commending the cognate Government staff for their untiring commitment to duty, the Forum reiterated its joy that Governor Oyebanji has penchant for appointing the right people into positions; adding that the Governor’s choice of personnel is a testament to his visionary governance.
“On behalf of the Nigeria Governor’s Forum secretariat (NGFS), we congratulate you on the signing of the Order of Transfer of Regulatory Oversight of the Electricity Market in Ekiti State. This is a significant milestone in your term as Governor of Ekiti State. It is also a worthy achievement in the life of the new Electricity Act 2023.”
“Your dedication, hard work and unwavering commitment to the service of the people of Ekiti State undoubtedly led to this momentous achievement. The positive impact you have had on the lives of the citizens of Ekiti State is immeasurable and something to be proud of. Your tireless efforts have brought about positive changes and advancements that will benefit future generations”, Okauru said.
It is recalled that the Biodun Oyebanji Administration has made considerable investment in the power sector in the bid to fix power infrastructure in the state and boost economic activities in line with its shared prosperity agenda.
These include the establishment of the 5-Megawatt Independent Power Project, which is currently providing uninterrupted power supply to Government Offices at the state Secretariat, major institutions including the teaching Hospital complex, as well as the powering of some street lights. The Administration has also rehabilitated and connected the towns of Erijiyan and Ikogosi as well as Ikogosi Resorts back to the National Grid to enhance the State tourism corridor.
Other achievements of the Administration include rehabilitation and connection of Ipole lloro-Ekiti back to the National Grid, rehabilitation and reconnection of ljan, Iluomoba, Aisegba, Agbado, Imesi, Ode, Isinbode, Egbe, Iro-Ayeteju and Omuo up to Ilasa in Ayekire/Gbonyin and Ekiti East/South-East LGAs and LCDAs back to the National Grid as well as the extension of 33KV network from 132KV Omisanjana transmission substation to Baptist High School and the connection of Ilawe Dedicated 33KV feeder line with Erijiyan-Ekiti.
The Administration also installed 500kVA 33/0.415 relief transformer at Ikogosi, and is extending electricity from Aramoko to Ijero, Eruku, Kwara State to the agricultural zone in lyemero, and from Iluomoba to Ikole. Several other initiatives are in the offing, including a federal TCN 132KV connection between Ikere, Ijesa-Isu and Ilupeju.
Yinka Oyebode
Special Adviser, (Media) to the Governor, Ekiti State
26-04-2024
The American International School of Abuja (AISA) has asked the Economic and Financial Crimes Commission (EFCC) to provide “authentic banking details” for the refund of fees paid for the children of Yahaya Bello, immediate-past governor of Kogi state.
Bello allegedly paid $720,000 in advance as fees for five of his children from the coffers of the Kogi state government.
The children are in grade level 2 to 8 at the school.
On April 17, EFCC operatives laid siege on Bello’s residence in Abuja in an attempt to arrest him over an alleged N80.2 billion fraud.
While the operatives were at the house, Usman Ododo, governor of Kogi, arrived at the property and reportedly whisked Bello away.
In a letter addressed to the Lagos zonal commander of the EFCC, the school said the sum of $845,852 has been paid in tuition “since the 7th of September 2021 to date”.
AISA said the sum to be refunded is $760,910, because it had deducted educational services already rendered.
“Please forward to us an official written request, with the authentic banking details of the EFCC, for the refund of the above-mentioned funds as previously indicated as part of your investigation into the alleged money laundering activities by the Bello family,” the letter reads.
“Since the 7th September 2021 to date, $845,852.84 (Eight Hundred and Forty Five Thousand, Eight Hundred and Fifty Two US Dollars and eighty four cents) in tuition and other fees has been deposited into our Bank account.
“We have calculated the net amount to be transferred and refunded to the State, after deducting the educational services rendered as $760,910.84. (Seven Hundred and Sixty Thousand, Nine Hundred and Ten US Dollars and Eighty Four cents).
“No further additional fees are expected in respect of tuition as the students’ fees have now been settled until they graduate from ASIA.”
The school said it will draw the attention of the anti-graft agency if there are any further deposits by the Bello family.
In a statement signed by Greg Hughes, AISA also said “Ali Bello contacted the school on Friday 13 August 2021 requesting to pay the family school fees in advance until the students graduate from High School”.
The EFCC has since declared Bello wanted with the NIS placing the ex-governor on a watchlist.
[TheCable]
The FCT Commissioner of Police, CP Ben Igweh, stated this in a statement issued by the spokesperson of the FCT Police Command, SP Josephine Adeh.
Igweh expressed concern that the misleading video has been passed around to sow fear and misinformation among FCT residents and Nigerians in general.
The CP, therefore, ordered a comprehensive investigation to uncover the source of the misinformation and discern the motives behind its dissemination.
The statement reads, “Forensic analysis conducted by the Nigeria Police Force – National Cybercrime Centre has revealed startling findings regarding a video circulating purportedly depicting security concerns in the Federal Capital Territory (FCT).
“Contrary to initial impressions, the investigation confirms that the incident depicted occurred in Addis Ababa, Ethiopia, and was posted by a South African individual on X (formerly Twitter) on April 22nd, 2024. The video falsely claims the necessity of carrying handguns for travel in Ethiopia.
“It is deeply concerning that this misleading video has been misappropriated to sow fear and misinformation among residents of the FCT.
“The command reaffirms its commitment to ensuring the safety and security of all residents of the FCT and will take all necessary legal actions to address this issue. We urge the public to remain vigilant and discerning in consuming information, especially in the digital sphere.”
[NaijaNews]
The Federal Government of Nigeria received an additional N3.8 trillion in what appears to be fresh Ways and Means Borrowing in the last six months of 2023.
This is according to provisional data published in the latest Statistics bulletin for the fourth quarter of 2023 recently released by the central bank.
The CBN’s provision data show that the total figure rose from N4.4 trillion at the end of June 2023 meaning that the cumulative Ways and Means balances due by the government now stand at N8.2 trillion as of December 2023.
This is despite news reports noting that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, which suggest President Bola Tinubu’s government has not borrowed money from the CBN.
The Ways and Means provision serve as a mechanism enabling the government to secure short-term or emergency financing from the CBN to address cash flow gaps.
Total Ways and Means balances as of May 2023 when the Tinubu administration took over was N26.95 trillion. However, the balances were securitized as included as part of the federal government’s domestic debt profile.
Breakdown of the data
A cursory analysis of the data shows the balance at the end of June 2023 was N4.36 trillion indicating that the prior month balances may have been moved to the Debt Management Office.
However, from July 2023, the balances increase every month, first to N4.5 trillion in July, then N5.1 trillion in August, crossing the N5.1 trillion mark for the first time.
By September, the total was N6.4 trillion, representing the single largest additional borrowing for a month with about N1.3 trillion. It then climbed to N7.2 trillion in October before rising marginally to N7.6 trillion in November.
At the end of the year, in December, the total hit N8.21 trillion, suggesting that Ways and Means increased by 88% in 6 months.
What You Should Know
- Nairametrics earlier reported that the federal government obtained about N2.94 trillion from the CBN through Ways and Means Advances. This was earmarked for the servicing of its domestic debts, which means that the government had to resort to borrowing from the CBN to fulfil its obligations to domestic debt holders.
- It was also disclosed that the federal government allocated approximately N4.83 trillion from the proceeds of Nigerian Treasury Bills (NTBs) and Bonds issued in 2024 to settle the Ways and Means Advances from the CBN.
- Last year, the National Assembly approved the securitization of N22.7 trillion from the N23.3 trillion previously advanced by the CBN to the Federal Government through ways and means.
- This debt was subsequently transferred to the Debt Management Office (DMO) with a 40-year tenor, a 3-year moratorium, and an interest rate of 9%.
Ways and Means Act
- According to Section 38 of the CBN Act, 2007, the apex bank may grant temporary advances to the Federal Government about temporary deficiency of budget revenue at such rate of interest as the bank may determine.
- The Act placed a limit of five per cent on how much the Federal Government could borrow, although the previous administration severely violated the limit.
- The National Assembly introduced amendments to the CBN Act, elevating the ceiling of Ways and Means Advances from the apex bank from five to 15% of the Federal Government’s previous year’s revenue.
- This endeavor to raise the limit to 15% opens the door to more borrowing and an increased burden of debt service obligations for the country.
- Also, the Senate of the 10th assembly, mirroring its predecessor in the ninth assembly, approved the securitisation of the outstanding N7.3 trillion in Ways and Means. This will likely crash the figure recorded in December significantly.
[Nairametrics]
Another minor fire incident was recorded at the old terminal of the Murtala Muhammad International Airport (MMIA), Lagos, prompting flight diversion.
The fire was recorded at the E-wing of the terminal.
Daily Trust reports that another fire gutted the terminal in September 2023, necessitating the total shutdown of the terminal while all the airlines were relocated to the new terminal.
While the fire incident yesterday did not substantially affect flight operations, stakeholders have called for a permanent solution to the recurring fire disasters at the 40-year-old terminal.
The Federal Airports Authority of Nigeria (FAAN) announced the diversion of all flight operations from the E Wing to the D-Wing.
It was learned that the fire started in the early hours of Thursday after smoke was detected at E54 bridge.
Officials of the Airport Rescue and Firefighting Services (ARFFS) were swiftly mobilised to contain the fire which had cut off the power supply at the section of the old international terminal.
FAAN’s Director of Public Affairs and Consumer Protection, Mrs Obiageli Orah, confirmed the fire, saying, “The Airport Rescue and Firefighting Services (ARFFS) team was quick to respond, arriving at the scene by 05:30 hrs.
“Initial suspicions pointed to sparks from an electrical unit as the cause, but a thorough investigation is ongoing to ascertain the cause of the fire.
“The incident, which escalated into a fire, was brought under control by 06:41 hrs.”
[DailyTrust]
More...
Nigerians and the rest of the world were taken aback when a video of thousands of bandits celebrating Sallah in Zamfara State surfaced on social media.
The development, many say, is a slap on Nigeria’s security architecture.
The video, which was disclosed by a counter insurgency analysts and security expert focused on Lake Chad region, Zaga Zula Mahama, on Thursday, April 18, has been generating reactions from Nigerians.
The bandits in their thousands were shown partaking in the Sallah festivities.
Nigerians have paid heavily in various forms, following the activities of the bandits, particularly in the North West and North Central, where they have made life a living hell for the people.
Nigerians in their hundreds of thousands have been kidnapped in the past by the bandits and ransom running into millions paid to secure their release.
Many who could not afford the outrageous ransom which they demand from most often have been brutally killed.
Many others have died out of torture in their hands or as a result of inclement weather in the forests and thick bushes where the bandits had always kept them.
In some states, like Katsina, Zamfara and Niger, some local government areas are comfortably under the control of the bandits, where they levy and collect taxes from the people without fear of any consequences.
Although the military kept assuring Nigerians that they were on top of the situation, the bandits appear unperturbed as they keep dishing pain, sorrow and death on a monthly basis.
The situation had become so disturbing that many people now question the authenticity of the information the military has been feeding Nigerians with, as it affects the counter insurgency war.
Nigerians have been told several times that scores of the bandits have been neutralised at different times in different locations and states including Zamfara, which is regarded as their headquarters. But, with the number seen on the video, many are asking if the information that the military has been feeding Nigerians with is anything to go by.
Some people are also saying that what the bandits wanted to prove with the viral video was simply to show that they have the backing of some powerful individuals in the society.
One of those who are sceptical about the information from the military authorities regarding their onslaught on the bandits is the president of the Middle Belt Forum, MBF, Dr. Pogu Bitrus.
He wondered why there are still thousands of the bandits out there despite assurances from the military that they are being dealt with.
Commenting on the viral video, Bitrus said the bandits wanted to showcase their religion.
He told DAILY POST that, “The bandits just want to show that they are Muslims, whether or not we accept is immaterial.
“It also shows that up till now, no matter what we have been told that the military have done with regard to decimating them, there are still a lot of them out there who can cause havoc in this country.”
He accused some people of paying lip service to the unity of the country, because according to him, if they wanted the country to be one as they would want people to believe, they would not be supporting the activities of the bandits.
He stressed that the only way to solve the problem of banditry in Nigeria was to restructure the country so that each state or geo-political region would be able to provide adequate security for her people.
“Sentiments apart, we are people who believe in one Nigeria. But the reality is that there are people who don’t believe in one Nigeria.
“If they do, they will not do what they are doing. We need to do what is necessary and we said we want this country to be restructured and that is the way forward,” he stated.
Also, the coordinator of the Arewa Youths Consultative Forum, AYCF, Alhaji Yerima Shettima described the bandits’ courage to appear publicly in such a large number as a clear indication that the government of the day has to do more.
“It is also an indication that the bandits have taken the country for granted, otherwise if the government is willing and determined, it couldn’t have said that it didn’t have information about the Sallah programme that bandits attended, or when they were about to hold the programme.
“This is because it was not a programme that the bandits held for one or two hours, it was a programme that took them several hours to execute.
“So, the government must buckle up because the implication is that it is an abuse of the sensibilities of the country as a whole, and it has also gone further to make a mockery of the country’s security forces.
“The government must buckle up and handle the matter once and for all,” he said.
On the number of bandits that have so far been neutralised over time, Yerima insisted that nobody could dispute the information, stressing that why it appears as the information was not true was because the bandits recruit people into their fold on a daily basis.
“They engage and employ people who are jobless by the day. So, the issue of saying that the information is not true should not even arise because the military is really trying, but just that they need to do more.
“Only God knows what would have happened if not for the military’s effort.
“They are trying but they should put more effort and clean the mess once and for all,” he submitted.
For a former member of the Katsina State House of Assembly, Alhaji Shehu Yusuf, banditry had become a big problem in the country, particularly in the North.
He said he aligned with the Kaduna State governor who recently said that everybody was involved in banditry.
“Starting from the community members that provide information to the traditional rulers, the security agents and the government, everybody is involved because looking at the way they operate, they must have the support of some people in the community who give them reliable information that enables them to attack people at random and disappear without a trace.
“I believe that there are people who are supporting them because for the bandits to come inside the town to a prayer ground which is a public place in such a large number, with arms and finish whatever they were doing and left unhindered is unbelievable.
“It is confusing and there must be people supporting them and providing them with useful information,” he told DAILY POST.
Insisting that almost everybody was involved in the menace, he said: “Remember that victims that had the opportunity to speak to the media usually tell us that they know the bandits and where they are hiding, especially in Zamfara State and in all communities that are being attacked by bandits.
“The people in such communities know the bandits personally and their hideouts.
“They go to the market and buy whatever they want, and anytime they like they can strike the communities, kill people and carry their belongings. That is exactly what is happening.
“These people are Nigerians. They live among the people in the community and the people know them and their hideouts.
“So, it is confusing and one cannot understand why they are doing what they are doing and the government has not been able to deal with them decisively.”
He advised the government to go all out not only against the bandits but also against their friends, sympathisers, informants and sponsors, and deal with them ruthlessly, according to the law of the land.
He also noted that they were able to display what they did in Zamfara without a whimper from the security agents because they have powerful individuals in the society who always come for them each time they are arrested.
“Normally, when the security agents arrest these bandits and take them to custody, except they are killed on the spot, they will always find their way out, either from the court, police cell, military cell or wherever they are being kept, and after some time, you see them back in the society.
“There is no legal action against them and this is what is happening. So, their supporters have a way of getting them out whenever they are arrested,” he lamented.
However, he expressed fear that the situation was getting to a point where the people would take the law into their own hands.
“If the communities are fed up, they will fight back. There was a case recently in a community in Zamfara State, where bandits wanted to abduct a bride, but were repelled by the groom’s relatives, who organised, attacked them, killed one of them and took their guns.
“They killed one of the bandits and others ran away; the groom’s relatives collected their guns and returned them to the nearest military checkpoint along Gusau Road.
“So, it is gradually getting to that point where people will begin to react, without waiting for any security agent,” he stated.
“Where is the technology of our military? Where is the technology of our security agents? Why can’t they use common drones to locate these bandits and act decisively on them?
“You will see the bandits exposing their machine guns, and living in the bush; meaning that in less than 10 minutes, the government can locate where they are, but nothing is being done about their activities.
“When the police or the military get a distress call that something is happening at a particular area, before they get permission from the above, the bandits have finished with their operation and disappeared.
“Anytime you report at the police or military checkpoint that something is happening at a particular place, they will tell you that they need to get permission from the top and before the top allows them to act, things would have gone wrong. This is what is happening.
“The painful aspect of the whole thing is that young military officers are always being killed.
“Look at what happened in Niger State recently, where six military officers, including a Captain, were killed. The government should take decisive action on this matter.
“Our military men are always being killed; the police and the DSS personnel, including the community people are being killed every day like animals. This is not good.
“The appearance of those bandits simply means that the people know them and their hideout, so it is time the government acted and stopped giving lame excuses about their invincibility,” he submitted.
- ‘The worst of the storms over’
- Dutch businessmen to invest $250m in Nigeria
“I am ever ready to take tough decisions in the best interest of the people, even if with initial pains,” President Bola Ahmed Tinubu affirmed yesterday.
He spoke in Hague, The Netherlands during the business session of the bilateral meeting with the Dutch team led by Prime Minister Mark Rutte.
The President led a Nigerian delegation on a state visit to the European country.
After the meeting, The Netherlands promised an investment worth $250 million in Nigeria in the next few months, according to a statement by presidential spokesman Ajuri Ngelale.
President Tinubu, on his assumption of office last year, declared that “subsidy is gone”, a pronouncement that was followed by the unification of exchange rates.
Speaking at the meeting, Tinubu said: “I am a determined leader of my people.
“I have and will continue to take the difficult decisions that will benefit our people, even if there is short-term pain.
“We have gone through the worst of the storms. I am unafraid of the consequences once I know that my actions are in the best long-term interests of all Nigerians.
“The Nigerian naira is one of the world’s best-performing currencies today.
“We took the necessary risk, and all resilient Nigerians kept faith with us.
“They will be rewarded, and the reward will only be greater as we partner effectively with you on new opportunities for development.
“As leaders, we must make decisions for the benefit of our nations, and we cannot shy away from that.”
He expressed firm commitment to the developmental partnership between Nigeria and the European Union (EU).
The President noted that symbiotic economic ties remain the best long-term path to sustainable and mutual prosperity rather than one-sided relationships in which bilateral trade is skewed too much in one direction.
Acknowledging the positive impacts of the various reforms carried out by the
Tinubu administration, Rutte said: “You are promoting democratic governance and the solutions it can bring in dealing with problems of development.
“I saw how you went through democratic channels to remove an incumbent president in 2015 in partnership with President Muhammadu Buhari and how that has led to development in your country.
“I saw you take the courageous decisions to deal with fuel subsidies and other reforms, and we are interested in what allowed you to take the decisions that many before you could not take. And you took those decisions early in your term. It shows rare determination. And your stand in ECOWAS, all of these point to your commitment to leadership.”
Thrilled by the confidence triggered by President Tinubu’s reforms in the economy, Rutte unfolded plans by Dutch businessmen to invest $250 million in Nigeria.
The investments, which the PM said would be activated over the next few months, include a $100 million stake in a waste-to-wealth industrial facility in Lagos, the nation’s industrial hub.
Wooing the Dutch investors, the President listed the immense opportunities available in the country across a pool of sectors, restating his Administration’s commitment to deepening ongoing reforms to further enhance the investment climate.
Nigeria, Tinubu said, is well-positioned to power the clean energy future of Europe and the world with its high-grade lithium deposits.
According to the President, Nigeria seeks robust, balanced and mutually beneficial partnerships that will bring about value-addition in areas like solid minerals.
He said: “Taking a holistic view of the world order, there is a tremendous opportunity between us across trade spheres but especially in solid minerals, where we have high-grade lithium deposits that we know can power the clean energy future of the world.
“There is excellent value-additive opportunity in Nigeria. The world knows us for oil. They will soon know us for greater innovative exploits in other areas.
“We have an extremely dynamic youth population in Nigeria. It is a young country.
“Seventy per cent of our people are under the age of 30 and when we are referring to 200 million plus citizens, it represents both a massive workforce and a massive market for Dutch and other international investors.
“If our young people know they can achieve a good future in Nigeria, they will stay home and build our nation to greatness.
“Lawful migration of trained Nigerian minds and hands will be a benefit to Europe, and irregular migration will no longer be a source of fear in Europe if we partner effectively.
“This is what we want and it is why we are adamant about providing student loans and new credit opportunities to not only enhance the skills of our people but also to ensure that they can access a higher quality of life within their legitimate incomes.
“We will transform our economy, and our young people will be the reason.”
He asserted that the confidence Nigerians had in themselves encouraged him to make some tough decisions on their behalf, adding that the citizens need long-term tools to succeed.
IT is beginning to look as if cars are now built to last a life-time. Surprisingly, such cars are not even from established brands that you might be thinking of.
Ordinarily, most people would think that such cars are made in Germany, Britain, America, Japan or Korea. But they are wrong. The cars that are giving world renowned automakers sleepless nights are from China.
Have you imagined that a car built in China could offer 10 years or 1,000,000 kilometer warranty? Or that a car could float on water in case of emergency? This is the new bar that the Chinese automakers are setting.
Leading this new technology exploits are the Jetour and BYD companies and other Chinese makers are gearing up to surpass the competition in no time.
Jetour SUV
For instance, the new Jetour T2 Sport Utility Vehicle is offering 10 years/one million kilometer warranty and a host of new technologies that could make renown automobile makers look like learners. This five seater SUV comes with array of features that are not common in its segment, thereby giving other traditional brands serious concern for worry. Roof rails, bulging wheel arches, striking tailgate and high-tech light signature, stand the SUV out.
Measuring about 4.78 meters long which is slightly shorter than the Hyundai Santa Fe, the Jetour T2 comes with imposing front end with its large grille, LED headlights and lower guards.
The T2’s clean cabin comes with 15.6-inch HD central screen as well as 10.25-inch instrumentation and a centre console that houses the gear selector and driving profiles. Ventilate and panoramic roof with snapdragon 8155 chip and 12-speaker Sony audio completes the luxury feelings in the T2.
Power is at your control with the 2.0 Turbo petrol engine which delivers 254 PS and 390Nm of peak torque. This engine is linked to a seven-speed DCT dual-clutch automatic gear and six generation BorgWarner all-wheel drive system.
Features such as remote parking, lane assist, 360 camera, adaptive cruise control with traffic jam guidance, fatigue detector, blind spot monitoring and automatic braking, are standard features of Jetour T2.
Another shocker from the Chinese automaker is the BYD Yangwang U8 SUV which delivers unrivalled off-road prowess and can be driven off-land too. It can float like a boat in flood even when the water gets up to the window level.
BYD revealed that the upcoming U8 Premium Edition was designed to withstand extreme weather conditions, including flash floods. If you’re ever caught in a flood, the SUV will elevate its suspension, turn off its engine (more on that in a bit), switch its HVAC system to re-circulation mode and seal its windows so that it can remain afloat up to 30 minutes, according to CarScoops. The vehicle can do more than just float, though. It can also drive forward at speeds of up to 1.8 mph. You’ll be able to maneuver around objects if necessary, too.
Water readiness is far from the U8’s only attractive feature. The full-size SUV is being pitched as a Chinese alternative to the ultra-chic Mercedes-Benz G-Wagon and Range Rover. Its unique hybrid power train, the U8 is an extended-range EV (EREV), which means it pairs a four-motor electric power train with a 2.0-liter turbocharged four-cylinder engine that acts as a range extender. BYD says the setup produces 1,200 hp and has a range of 621 miles.
BYD isn’t the first company to think about making a land-based electric ride that can travel through water. Elon Musk has had the same idea for the Cybertruck. Last year, the company’s CEO posted on X, then known as Twitter, that the eagerly anticipated EV would be able to “serve briefly as a boat.” We’ve yet to see the finished Cybertruck—the examples that have rolled off the line have only been production candidates—so it remains to be seen if the ability will be available.
The Legal Practitioners Disciplinary Committee (LPDC) has struck out the name of Adekunbi Ogunde from the list of legal practitioners in Nigeria.
Akorede Lawal, spokesperson of the Nigerian Bar Association (NBA), told TheCable that the decision by the LPDC was reached on Thursday.
Lawal also said the sanction “is subject to the right of appeal of the counsel to the supreme court”.
Ogunde, a former partner in the law firm of Wole Olanipekun, immediate former chairman of the Body of Benchers, had, in June 2022, admitted to sending an email to SAIPEM Contracting Nigeria Ltd, soliciting a brief.
Despite being aware that the law firm of Henry Ajumogobia, a senior advocate of Nigeria (SAN), is handling the matter, Ogunde asked SAIPEM to consider hiring Olanipekun & Co, adding that the founder has more “influence” with judges across all courts.
Olanipekun has since apologised to Ajumogobia, stating that he never approved the email sent by Ogunde.
Ogunde also apologised to Ajumogobia for the embarrassment, blaming her action on exuberance.
The NBA had, in a petition sent on July 20, asked the LPDC to prosecute Ogunde over “professional misconduct”.
In the petition, NBA also asked the committee to consider whether the partners of the firm of Wole Olanipekun & Co, are not liable to be disciplined alongside Ogunde.
The NBA also demanded that Olanipekun should resign on the ground that he could influence the processes of the LPDC since the committee is under the supervision of the Body of Benchers’ chairman.
In August 2022, Ogunde said the issue has affected her psychologically.
Ogunde said after “consulting with family and the firm, and after a deep and thorough examination of all the facets of this hydra-headed problem”, she has decided to “take a leave of absence from legal practice and get involved in the community and social work pro bono, with a few selected NGOs”.
[TheCable]