Amnesty International has condemned the arrest and remand of Kano-based TikToker Junaidu Abdullahi, popularly known as ‘Abusalma,’ for mobilizing mass protests over the country’s widespread hunger and suffering.

In a statement on Sunday, Amnesty International demanded Abdullahi’s immediate release, accusing the Nigerian government of punishing him for exercising his fundamental rights.

 

“The Nigerian authorities must immediately and unconditionally release social media activist Junaidu Abdullahi (Abusalma), who was imprisoned in Kano for posting a viral TikTok video calling for a peaceful protest against widespread hunger across the country. #FreeAbusalma,” the human rights organization stated.

Amnesty International criticized the government’s actions, describing the expedited court proceedings and the three-week adjournment of the case as a deliberate attempt to punish Abdullahi for exercising his freedom of expression.

In February, Amnesty International reported that Nigerian authorities unlawfully arrested Aisha Jibrin, Fatima Aliyu, Fatima Isyaku, and 22 others in Minna, Niger State, for participating in a protest against the severe cost of living crisis. The police also unlawfully detained Fatima Auwal, a local bread (Gurasa) baker, for protesting the hike in flour prices.

Abdullahi, a TikTok influencer based in Kano, was arrested by security agents after posting a viral video calling for mass protests against the severe hunger and economic hardship affecting many Nigerians.

The House of Representatives has passed, for the second reading, a bill seeking to amend the 1999 Constitution to ensure that pregnant women convicted of offences punishable by death serve life imprisonment instead.

Sponsored by Rep. Babajimi Benson, the bill aims to preserve the lives of innocent unborn babies of such convicted women.

During the debate, Benson explained that the proposed legislation seeks to alter Section 33 of the 1999 Constitution by inserting a new subsection. This new subsection stipulates that if a pregnant woman is convicted of a capital offence, the court shall sentence her to life imprisonment instead of the death penalty.

 

The bill was passed and referred to the Committee on Constitution Amendment for further legislative actions.

Miyetti Allah Kautal Hore, a prominent Fulani socio-cultural association, has announced that its members will not participate in the planned nationwide protests against hunger and hardship scheduled for August 1, 2024.

During a press conference in Karu, Nasarawa State, Alhaji Abdullahi Bello-Bodejo, the national president, and Engr. Saleh Alhassan, the national secretary, made this clear. Bello-Bodejo stated, “Miyetti Allah Kautal Hore unequivocally and strongly asserts that we do not support the planned protests and our members will not be participating.” He emphasized the association’s preference for peaceful dialogue and constructive engagement with the authorities over mass protests. 

The group also praised the recent establishment of the Ministry of Livestock Development by President Bola Tinubu’s administration.

In a related development, Alhaji Abdulkarim Dayyabu, a social critic and leader of the Movement for the Restoration of Justice, expressed scepticism about the authenticity of the faceless groups advocating for mass nationwide protests. Speaking to newsmen in Kano, Dayyabu urged the public to remain patient and supportive of the current leadership, suggesting that the government has been advised on the prevailing issues and is addressing them.

 

Don’t Destabilize Nigeria, CSOs Warn Protesters

In response to the planned nationwide protests organized by the #EndBadGovernance group, 259 civil society organizations (CSOs) under the Coalition for Transparency and Economic Reforms (COTER) have voiced their opposition.

COTER cautioned the protest organizers at a press conference led by National Coordinator Adeshina Animashaun. Animashaun noted that the protests could lead to chaos and violence reminiscent of the October 2020 #EndSARS demonstrations. He urged the organizers to reconsider, emphasizing that the protests could destabilize the nation and harm innocent citizens.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has stated that it is not their job to protect a company, adding that they are regulators.

The regulatory body stated this while replying to the claims by billionaire businessman, Aliko Dangote that they were demarketing a company that they should be protecting.

 

Recall that NMDPRA Chief Executive, Farouk Ahmed claimed that Dangote’s diesel was inferior, as it has more sulphur content than the imported one.

He also said the refinery, which has been selling diesel and aviation fuel in Nigeria for months, had yet to be licensed.

Reacting, Dangote lamented that it was disheartening that the regulators were not safeguarding the petroleum market in Nigeria.

However, speaking during an interview with Punch on Sunday, NMDPRA spokesman, George Ene-Ita fumed over the allegation that the regulator was demarketing a company it should protect, wondering if Dangote wants the agency to bend the rules in his favour.

Why should we protect any company? We are regulators, operations are going don’t protect anybody; we regulate operators. If he says protect, it means we are shielding. It means that we should bend the rules. We don’t do that, we regulate every company.

“And we don’t demarket, what does he mean? You only demarket your competitors to gain an advantage. We are not competing with an operator. The word, ‘demarketing’, is only used when two competing brands are fighting. We are not an operator; we are a regulator. How can we demarket? Please, I take exception to that, on behalf of my organisation. We are not demarketing anybody. We are regulating every local refinery, including NNPC,” he clarified.

Speaking further, Ene-Ita said the body is expecting fresh reports to confirm the real sulphur content of the diesel produced by the Dangote refinery as the company debunked claims of inferior fuel production.

He said the agency had done its job and would not engage in a media fight with anybody over the claims made by the NMDPRA Chief Executive.

According to Ene-Ita, the authority has about 15 engineers and scientists embedded in the Dangote refinery, whose fresh report about the refinery’s sulphur content will be out on Monday (today).

The NMDPRA spokesman posited that a lot might have changed within a space of five days.

We are not fighting anybody. Dangote refinery is the same as an indigenous local refinery. We are regulators, we don’t fight in the media. We have done our job, and that is it.

“You know we are dealing with engineering and time, and when we deal with engineering and time, it means that whatever claims put forward can be put to test and verified or debunked. If you recall, the ACE made that pronouncement on the sideline of an interaction on Wednesday or so. Between that time and now, it’s been like five days, a lot can change. So, 650ppm or 500 can come down to whatever.

“What I am saying is that I can’t give you any verifiable result for now, being a Sunday evening, until perhaps tomorrow when we will be in a position to review our technical report that must have been submitted by our engineers who are embedded in that plant. What normally comes to us are weekly reports. These particular tasks are done across the week from Monday to Sunday; even now, operations are going on and our engineers are there. So, I can’t speak to the claims made by that refinery now,” Ene-Ita explained.

Former president Bill Clinton and ex-secretary of state Hillary Clinton praised Joe Biden’s decision to abandon his White House reelection bid Sunday, and threw their support behind Vice President Kamala Harris to take up the baton.

Lauding Biden‘s “extraordinary career of service,” the Clintons said in a joint statement that they were “honored” to join him in endorsing Harris as the Democratic nominee “and will do whatever we can to support her.”

 

“Nothing has made us more worried for our country than the threat posed by a second Trump term. He has promised to be a dictator on day one,” they continued.

THE court-reinstated deputy governor of Edo State, Mr. Philip Shaibu, yesterday, said his fight against his impeachment was to protect the office of the deputy governor in Nigeria, which he said has been ridiculed by some governors since 1999.

 

Shaibu spoke to journalists after a thanksgiving service at St. Paul’s Catholic Church, Benin City, where he said his reinstatement by the court was an act of God.

 

He also wants the Federal Government and the Inspector General of Police to investigate the killing of a policeman while he was on the way from the airport.

He said the policeman was an orderly to the governorship candidate of All Progressives Congress, APC, Sen. Monday Okpebholo.

According to him, “The governor (of Edo State) said he will destroy me and that is why I decided that the office of the deputy governor of Edo State, I will fight to make sure that sanity and respect is brought back to that office. 

“All what I am doing is not to earn anything but to make sure that the sanity of the office of the deputy governor is restored in line with the Constitution of the Federal Republic of Nigeria. 

“What other deputies cannot fight, I will fight on their behalf, so that governors will start respecting that office.”

On his victory in the court, he said: “I challenged God and I told Him that I want Him to prove His power in my life, that people that are anti-God and anti-democracy are at it again and they want to use me as scapegoat, I told God to show to the world that I am truly your son.

“They said they will impeach me and I will go to court and that by the time judgment will come, the tenure would have been over.  I now challenged God to it, to prove to them that they have touched His anointed and that the judgment will come more faster more than expected, I said I will need the judgment to come before the election.

 

“By the grace of God, democracy has come to stay and we that fought for democracy will protect it, anti-democratic forces must be flushed out and by the grace of God we will succeed.”

Shaibu said ahead of the coming election in the state, youths should not allow themselves to be used but should vote in the election to remove “anti-democratic people” rather than allowing themselves to be used for violence.

“This election is the time to change anti-democratic forces and you must do it through the ballot, don’t engage in violence. I have been preaching this for the past year when the intimidation and harassment against me started.”

On the attack that led to the death of a policeman, Shiabu said: “I refused to call anybody to the streets because they were saying we know him, he will soon call people to the streets. 

“They know what they have done and they are trying to cover up, but this one, they cannot cover it up, not when a police officer was a victim, they cannot cover this, all of them must be picked. 

 

“They orchestrated it, the men of the vigilante did that. The vigilante in Edo State killed a policeman, the IG must look into it. They are struggling to see who they can rope in, they cannot rope anybody in. I am urging the president and IG to set up an enquiry to investigate the killing, not only the killing but proscribe vigilante in Edo.”

Ugandan President, Yoweri Museveni, has warned protesters planning an anti-corruption march on Tuesday that they are “playing with fire” and will not be tolerated.

BBC reports on Sunday that the protesters, mostly young Ugandans, are demanding an end to corruption in government and have been inspired by recent demonstrations in neighbouring Kenya.

Museveni was reported to have accused the protest organisers of working with foreigners to cause chaos in Uganda in a televised address, and warned that the government will not allow disruptions to the country’s progress.

“We are busy producing wealth… and you here want to disturb us. You are playing with fire because we cannot allow you to disturb us,” he said.

 

Police have refused to grant permission for the march, but protest leaders have said they will proceed anyway, citing their constitutional right to peaceful demonstration.

“We don’t need police permission to carry out a peaceful demonstration. It is our constitutional right,” one of the main protest leaders, Louez Opolose, told AFP.

A protester, Shamim Nambasa, speaking with AFP, said, “Our starting point in the fight against corruption is parliament… and the demonstration is on irrespective of what police is saying.”

The march comes amid growing discontent over corruption in Uganda, with the US and UK recently imposing sanctions on high-ranking officials, including parliamentary speaker Anita Annet Among, over allegations of corruption.

 

Meanwhile, in Kenya, President William Ruto, has called for an end to protests demanding his resignation and an end to “bad governance.”

The protests, which have turned violent at times, have resulted in at least 50 deaths and 413 injuries since June 18, according to the Kenya National Commission on Human Rights.

In Nigeria, PUNCH Online understands that a planned protest, scheduled to take place from August 1 to 10, 2024, is gaining momentum across the country.

The demonstration is aimed at drawing attention to the economic challenges faced by Nigerians.

While the protest has garnered support from some quarters, it has also attracted mixed reactions and concerns from various stakeholders.

The Presidency has described calls for the nationwide protests as treasonable.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a post on his X account, claimed that those organising the protests were also behind the “destructive” #EndSARS protests of October 2020.

[Punch]

A New Zealand coroner has formally linked four deaths to the sale of “suicide kits” bought online from a former Canadian chef, according to findings published Monday.

Coroner Alexandra Cunninghame found that three students, aged 18 to 21, and one 40-year-old personal trainer killed themselves after buying kits from businesses linked to Canadian Kenneth Law.

Canadian police believe Law sent as many as 1,200 “suicide kits” to people in more than 40 countries between 2020 and his arrest last year – specifically targeting vulnerable people online.

Canadian prosecutors allege the kits contained a food additive that can kill if misused.

 

Law was arrested in May 2023 and charged in Canada with 14 counts of murder and a further 14 counts of aiding and counselling suicide.

He has denied the charges.

Alerted by Interpol, several other countries have launched investigations.

 

In Britain, at least 272 people purchased products from Law’s websites and 88 of them died, police there have said.

In Italy, nine buyers have been identified and at least one victim has died.

The Canadian victims were both male and female between the ages of 16 and 36, according to police.

New Zealand’s Suicide Prevention Office has asked internet service providers to block Law’s website in New Zealand, the coroner added.

PUNCH Online reports that a suicide kit typically refers to a collection of items intended to assist an individual in ending their own life.

These kits can be controversial and raise significant ethical, legal, and moral issues. They often include various substances, tools, or instructions designed to facilitate self-harm or suicide.

AFP

Aliko Dangote, Africa’s richest man, says he is willing to sell his oil refinery to the Nigerian National Petroleum Company (NNPC) Limited.

Aliko spoke in an interview with Premium Times on Sunday.

The billionaire’s statement comes amid a dispute between the refinery and Nigeria’s regulatory authorities in Nigeria.

“Let them (NNPCL) buy me out and run the refinery the best way they can. They have labelled me a monopolist,” Dangote said. 

 

“That’s an incorrect and unfair allegation, but it’s okay. If they buy me out, at least, their so-called monopolist would be out of the way.

“We have been facing fuel crisis since the 70s. This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture.

“As you probably know, I am 67 years old, in less than three years, I will be 70. I need very little to live the rest of my life.

 

“I can’t take the refinery or any other property or asset to my grave. Everything I do is in the interest of my country.

“So, I am ready to let go, let the NNPC buy me out, run the refinery. At least the country will have high-quality products and create jobs.”

In May 2023, the billionaire’s refinery was inaugurated. The 650,000 barrel-per-day sits on a 2, 635 hectares of land located in the free zone area of Ibeju-Lekki, Lagos.

The facility began the production of diesel on January 12, but petrol supply is billed for August after numerous factors — including crude supply challenges and a fire outbreak at the facility — stalled production.

 

The constraints on accessing crude feedstock from international oil companies (IOCs) in Nigeria forced the company to import crude from countries like Brazil and the US to bridge the meet supply.

At the inauguration, Dangote refinery had announced that it has a supply deal with the NNPC and previously agreed to a 20 percent equity participation.

The refinery later said only 7.2 percent had been fully paid for before the deadline issued to the company to acquire the stake.

 

FRIENDS ADVISED ME TO NOT INVEST IN NIGERIA

 

According to the Premium Times report, Dangote also said the obstacles his refinery is facing seem to have vindicated friends and associates who advised him to tread with caution as he pumped billions of dollars into the Nigerian economy.

“Four years ago, one of my very wealthy friends began to invest his money abroad,” Dangote added.

 

“I disagreed with him and urged him to rethink his action in the interest of his country.

“He blamed his action on policy inconsistencies and shenanigans of interest groups.

 

“That friend has been taunting me in the past few days, saying he warned me and that he has been proven right.”

On June 4, Dangote said some IOCs were struggling to supply crude to his refinery.

 

Speaking on Arise TV on July 15, Gbenga Komolafe, chief executive officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) described the claim as “erroneous”, noting that the Petroleum Industry Act (PIA) has provisions that guide willing buyer-willing seller transactions.

But a few days later, the management of Dangote Industries Limited insisted that the IOCs were frustrating its request to purchase crude feedstock for the refinery.

On July 18, Farouk Ahmed, chief executive officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), said local refineries, including the Dangote refinery, were producing inferior products compared to imported ones.

 

[TheCable]

Last modified on Monday, 22 July 2024 07:48

Finance institutions to pay 50% of windfall


Experts caution on timing

 

 


The proposed one-off tax on 2023 foreign exchange (forex) gain by banks may fetch the Federal Government not less than N2trillion, it was learnt at the weekend.

President Bola Ahmed Tinubu hinted at his administration’s plan to tax the banks’ gain in the proposed amendment to the 2023 Finance Act before the National Assembly.

Also before the National Assembly is an Executive Bill on the 2024 Supplementary Budget seeking to raise N6.2 trillion to fund infrastructure.


The tax on banks’ forex windfall in 2023 is meant to raise part of the funding for the supplementary budget.

The levy on forex revaluation gains, otherwise known as a windfall, will be used to finance “Renewed Hope” infrastructure projects, education and healthcare, among others.


A review of audited reports and accounts of banks and independent analysts’ reports yesterday estimated forex revaluation gains at about N4 trillion in 2023, half of which the government is seeking to appropriate for national budget funding.


For instance, three of Nigeria’s five biggest banks – Guaranty Trust Holdings Company (GTCO), Zenith Bank and United Bank for Africa (UBA), made forex revaluation gains of about N700 billion last year 2023, with GTCO accounting for about two-thirds of the total gains by the big three.

GTCO recorded a forex revaluation gain of about N442 billion in 2023, followed by Zenith Bank and UBA with N229 billion and N27 billion respectively.

If passed into law, the government will receive about N350 billion in one-off payments from the three banks.


Five other banks, including the First City Monument Bank (FCMB) Group, Fidelity Bank, Stanbic IBTC, Access Holdings, and Sterling Financial Holdings, recorded estimated forex revaluation gains of about N176 billion during the year.

The 2023 Finance Act amendment stipulates that “there shall be levied and paid to the benefit of the Federal Government of Nigeria a tax of 50 per cent on the realised profits from all foreign exchange transactions of banks within the 2023 financial year.

“The Federal Inland Revenue Service – (a) shall assess the realised profits, collect, account and enforce payment of tax payable under section 30 in accordance with the powers of the Service under the Federal Inland Revenue Service (Establishment) Act 2007.”


The amendment proposes a penalty of an additional 10 per cent for banks that have not remitted the assessed forex gains or gotten approval for instalment payment from the CBN by December 31, 2024.

Read Also: Shaibu: My legal battles will restore sanity to deputy governor’s office ridiculed since 1999
Also, principal officers of defaulting banks would face imprisonment of up to three years.

Most experts have faulted the timing and the nature of the windfall tax, noting that it could indirectly undermine the ongoing banking recapitalisation.


They said it was unfair to deny shareholders of direct benefits from forex gains on one hand, and for the government to seek to retroactively appropriate such on the other hand.

The Central Bank of Nigeria (CBN) had directed banks not to utilise their forex revaluation gains to pay dividends or for other operational expenses, but rather to save the funds as a hedge against any future volatility.

“Banks are required to exercise utmost prudence and set aside the foreign currency revaluation gains as a counter-cyclical buffer to cushion any future adverse movements in the forex rate in this regard.

“Banks shall not utilise such forex revaluation gains to pay dividends or meet operating expenses,” the apex bank had stated.

Experts at Afrinvest West Africa said while the government is constitutionally empowered to impose taxes, including on windfall gains, to strengthen fiscal accounts, the timing of the policy’s announcement is problematic.

Faulting the timing, they argued that it would create a sense of uncertainty and unpredictability among investors and industry practitioners.


Afrinvest said: “For instance, Italy in August 2023 announced a one-off 40.0 per cent windfall tax on increase in banks’ net interest margin for the fiscal year 2023.

“Although the plan was eventually modified, the announcement was made during the 2023 operating year – in contrast to the abruptness of the proposed tax on Nigerian banks, which is to be applied outside of the 2023 fiscal year.

“Unsurprisingly, the banking index shed a total of 3.0 per cent in the final trading sessions of the week, following the announcement.


“In summary, lingering concerns about uncertainty around the sector could present some headwinds amidst the ongoing recapitalisation process.

“Furthermore, there is a need for clarification on the wind-fall tax adjustments to be made for banks that already remitted income tax for 2023.

“Given the five-month window for compliance, the federal government should provide a clearer template that would take into consideration some of the nuances around implementing the tax.


“There is the issue of fairness from the perspective of capital owners, given that the CBN already barred access to foreign currency earnings via dividend payments.

“The Federal Government is seeking access to 50.0 per cent of the same profit.

“In the light of the ongoing recapitalisation, the broad steps by the regulator and the Federal Government to tighten the noose around forex income for banks might disincentivise new capital inflow into the sector, thereby prolonging the current episode of lack-lustre foreign capital inflows into the country.”


Managing Director, Arthur Steven Asset Management, Mr. Olatunde Amolegbe, said the introduction of the windfall tax in the middle of ongoing banking recapitalisation may send wrong signals to investors and thus negatively impact the ability of banks to raise the much-needed capital.

Amolegbe said: “We also have to be very mindful of the impact on the liquidity ratio of these banks, many of which are finding things tough due to the tight monetary stance of the CBN. There is a need for caution here.

“In business, as in life, timing is everything. It will appear we are moving one step forward two steps backward.”


His counterpart at HighCap Securities, Mr. David Adonri, said the 50 per cent windfall tax amounts to an expropriation of shareholders’ wealth.

“It defeats the purpose of making banks strong enough to support the envisaged $1 trillion economy, an objective that is compelling banks to recapitalise,” Adonri said.