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Ola Olukoyede, chair of the Economic and Financial Crimes Commission (EFCC), says he will tender his resignation if he does not prosecute Yahaya Bello, former governor of Kogi state, to a logical conclusion.
Olukoyede spoke in Abuja on Tuesday during an interactive session with media executives.
“If I do not personally oversee the completion of the investigation regarding Yahaya Bello, I will tender my resignation as the EFCC chair,” he said.
The EFCC boss also vowed that everyone involved in obstructing Bello’s arrest from his Abuja residence will face the full wrath of the law.
He also said he invited Bello to his office for a more respectful and dignified interrogation, but that the ex-governor wanted EFCC operatives to grill him in his village instead.
“I called Yahaya Bello, as a serving governor, to come to my office to clear himself. I shouldn’t have done that,” he said.
“But he said because a certain senator has planted over 100 journalists in my office, he would not come.
“I told him that he would be allowed to use my private gate to give him a cover, but he said my men should come to his village to interrogate him.”
Olukoyede said the EFCC did not violate any law while trying to arrest the former governor from his residence.
“Rather, we have obeyed the law. I inherited the case and I didn’t create it. Why has he not submitted himself to the law?” he asked.
“I have arraigned two past governors who have been granted bail now — Willie Obiano and Abdulfatah Ahmed.
“We would have gone after Bello since January but we waited for the court order.
“As early as 7 am, my gallant men were there. Over 50 of them. They mounted surveillance.
“We met over 30 armed policemen there. We would have exchanged fire and there would have been casualties.
“My men were about to move in when the governor of Kogi drove in and they later changed the narrative.”
He vowed that all those who have dipped their hands into the public till would be investigated and prosecuted.
“If I can do Obiano, Abdulfatah Ahmed and Chief Olu Agunloye, my kinsman, why not Yahaya Bello?” Olukoyede said.
The EFCC is prosecuting Bello on 19 counts bordering on alleged money laundering and misappropriation of public funds to the tune of N80.2 billion.
[TheCable]
Ihedioha resigns from PDP: Former Imo State governor, Emeka Ihedioha, has tendered his resignation to the Peoples Democratic Party (PDP), citing a misalignment between his personal beliefs and the current trajectory of the party.
In a resignation letter addressed to the chairman of his constituency, Mbutu Ward, Aboh Mbaise Local Government Area of Imo State, Ihedioha expressed his dedication to the advancement of democracy and good governance in Nigeria despite his decision to step away from the party.
Having been a member of the PDP since its inception in 1998, Ihedioha highlighted his contributions to the growth and evolution of the party, noting its historical commitment to internal reforms and providing credible leadership both in and out of power.
However, Ihedioha lamented recent developments within the party, stating that it has deviated from its core principles. He voiced concerns over the party’s inability to enact internal reforms, uphold its own regulations, and effectively oppose the ruling All Progressives Congress (APC).
The letter reads, “Since 1998, I have contributed my quota to the development and transformation of the Peoples Democratic Party (PDP) as one of the founding members. All these years, I have taken pride in the fact that the PDP is a party that will always look inward for internal reforms and provide credible leadership for the people, whether in power or outside power. I have had the benefit of serving and benefiting from the party at various levels.
“Regrettably, in recent times, the party has taken on a path that is at variance with my personal beliefs. Despite my attempt 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 People’s Democratic Party effective immediately. While the decision was difficult to take, I, however, believe that it is the right one. Despite this resignation, I will always be available to offer my services towards the deepening of democracy and good governance in Nigeria.”
Dangote Petroleum Refinery has again announced a further reduction in the prices of both diesel and aviation fuel to N940, N980 per litre respectively.
This is coming at the wake of its widely celebrated price reduction to N1,000 barely two weeks ago.
The price change of N940 is applicable to customers buying five million litres and above from the refinery, while the price of N970 is for customers buying one million litres and above.
Speaking on the new development, the Head of Communication, Mr Anthony Chiejina, explained that the new price is in consonance with the company’s commitment to cushion the effect of economic hardship in Nigeria.
Chiejina said, “I can confirm to you that Dangote Petroleum Refinery has entered a strategic partnership with MRS Oil and Gas stations, to ensure that consumers get to buy fuel at affordable price, in all their stations be it Lagos or Maiduguri. You can buy as low as 1 litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates.”
He further stated that the partnership will be extended to other major oil marketers.
“The essence of this is to ensure that retail buyers do not buy at exorbitant prices. The Dangote Group is committed to ensuring that Nigerians have a better welfare and as such, we are happy to announce these new prices and hope that it would go a long way to cushion the effect of economic challenges in the country,” he added.
It would be recalled that the management of Dangote Petroleum Refinery announced a further reduction of the price of diesel from N1200 to N1,000 per litre barely two weeks ago.
This marks the third major reduction in diesel price in less than three weeks when the product sold at N1,700 to N1,200 and also a further reduction to N1,000 and now N940 for diesel and N980 for aviation fuel per litre.
Nigerian President Bola Tinubu had also commended Mr Dangote for the initial price reduction, describing it as an “enterprising feat.”
Reacting to the latest development, the Director General of the Manufacturers Association of Nigeria (MAN), Mr Ajayi Kadiri, said that, “The decision of Dangote Refinery to first crash the price from about N1,750/litre to N1,200/litre, N1,000/litre and now N940 is an eloquent demonstration of the capacity of local industries to positively impact the fortunes of the national economy.”
He added that, “The trickle down effect of this singular intervention promises to change the dynamics in the energy cost equation of the country, in the midst of inadequate and rising cost of electricity.
“The reduction will have far-reaching effects in critical sectors like industrial operations, transportation, logistics, and agriculture, contributing to easing the high inflation rate in the country; a lot of companies will be back in operation.”
The Central Bank of Nigeria (CBN) has notified Bureau De Change (BDC) operators of the sale of $10,000 at the rate of ₦1,021/$1.
The notification of discounted sales was contained in a fresh statement by the apex bank to the BDC operators.
This move marks the second of such sale this month and the fourth in the current year which is aimed at addressing the retail-end market, particularly for transactions such as travel allowances, tuition fees, and medical payments.
This policy allows the CBN to sell a total of $10,000 to each eligible BDC, who in turn sell to end users with a maximum markup of 1.5% over the buying price in order to prevent price gouging and ensure that the benefits of the discounted rate are transferred to consumers needing foreign exchange for various personal transactions.
The CBN circular on the fresh sale reads: “We write to inform you of the sale of $10,000 by the Central Bank of Nigeria (CBN) to BDCs at the rate of N1,021/$1. The BDCs are in turn to sell to eligible end users at a spread of NOT MORE THAN 1.5 percent above the purchase price.
“ALL eligible BDCs are therefore directed to commence payment of the Naira deposit to the underlisted CBN Naira Deposit Account Numbers from today, Monday April 22, 2024, and submit confirmation of payment, with other necessary documentations, for disbursement of FX at the respective CBN Branches.”
Naija News recalls the CBN, in February 2024, announced the sale of $20,000 to each BDCS at the rate of N1,301/$. By the second attempt, the bank reduced the allocation by 50% and sold FX at a rate of N1,251/$1. Earlier this month, the apex bank had a sale of $10,000 to each BDC at a rate of N1,101/$1.
The embattled immediate past Governor of Kogi State, Alhaji Yahaya Bello said he was ready to appear before the Federal High Court in Abuja to answer to the 19-count charge the Economic and Financial Crimes Commission, EFCC, preferred against him.
Though Bello was absent for his arraignment, he briefed a team of lawyers who addressed the court on his behalf on Tuesday.
A member of his legal team, Mr. Adeola Adedipe, SAN, told the court that his client would have made himself available for the proceedings, but was afraid that he would be arrested.
“The defendant wants to come to court but he is afraid that there is an order of arrest hanging on his head,” Adedipe, SAN, submitted.
Consequently, he urged the court to set aside the exparte order of arrest it earlier issued against the former governor.
Adedipe, SAN, contended that as at the time the order of arrest was made, the charge had not been served on his client as required by the law.
He noted that it was only at the resumed proceedings on Tuesday that the court okayed substituted service of the charge on the defendant, through his lawyer.
“As at the time the warrant was issued, the order for substituted service had not been made. That order was just made this morning.
“A warrant of arrest should not be hanging on his neck when we leave this court,” counsel to the defendant added.
Besides, the ex-governor maintained that the EFCC is an illegal organization.
According to him, the Federal Government did not consult the 36 States of the federation before it enacted the EFCC Act through the National Assembly.
He argued that section 12 of the 1999 Constitution, as amended, required the various Houses of Assembly of states to ratify the Act before it could become operative.
“This is a very serious matter that borders on the constitution and the tenets of federalism. It has to be resolved because as it stands, the EFCC is an illegal organization,” Bello’s lawyer added.
However, EFCC’s lawyer, Mr. Kemi Pinheiro, SAN, urged the court to refuse the application, insisting that the warrant of arrest should not be set aside until the defendant makes himself available for his trial.
“The defendant cannot stay in hiding and be filing numerous applications. He cannot ask for the arrest order to be vacated until and when the defendant is present in court for his arraignment. He cannot be heard on that applied application.
“The main issue should be ascertaining the whereabouts of the defendant. All these applications he is filing are nothing but dilatory tactics intended to delay his arraignment and frustrate the proceedings.
“If he wants the order of arrest to be discharged, let him come here and make the application.
“Our position is that the defendant should be denied the right of being heard, until he is physically present before this court.”
EFCC’s lawyer further argued that inline with section 396 of ACJA, 2015, the court could not effectively assume jurisdiction to decide any application or objection in the matter, until the defendant is arraigned.
The anti-graft agency said it would not execute the arrest warrant if counsel to the defendant undertake to ensure his presence on the next adjourned date.
“If he gives an undertaking that his client will be in court on the next date, I can assure him that the arrest warrant will not be executed.
“If he gives that assurance, as the prosecution, I will personally apply for the warrant to discharged,” EFCC’s lawyer, Pinheiro, SAN, added.
EFCC told the court that the Supreme Court had since settled the issue of its legality.
“The charge before this court is not against a state or House of Assembly, but against an individual who is said to have laundered public funds.
“It is against an individual who is said to have taken public funds to buy houses in Lagos, Maitama and also transfered funds to his accounts abroad,” EFCC added.
The Katsina State Working Committee of the All Progressives Congress (APC) has set the nomination form fee for those contesting for the seat of local government chairman at five million naira.
Katsina APC Deputy Chairman Alhaji Bala Abu Musawa confirmed this after a meeting of the working committee, other state executives, and chairmen and secretaries of the party from the 34 local governments, held at the presidential banquet hall, Katsina Government House.
He stated that those contesting for councillor seats would pay a fee of N1.5 million (one million five hundred thousand naira).
Alhaji Bala Abu emphasized that all payments for the forms must be made directly into the party’s account.
However, he clarified that sales of the forms will commence from May 1st to May 4th this year.
He added that all contestants must return their completed forms to SIEC by Thursday, May 9th.
Quoting provisions from the election timetable issued by SIEC, the APC deputy chairman announced that primary elections for council chairmen would be held on Saturday, May 18th, while councillor elections will follow on Wednesday, May 22nd.
He stated that the final list of candidates emerging from the primaries must be submitted to the state electoral commission on Monday, May 20th.
Alhaji Bala Abu appealed to all contestants to adhere strictly to the guidelines, particularly regarding election campaigning.
President Bola Tinubu is set to embark on an official visit to the Kingdom of the Netherlands starting today, Tuesday, April 23, 2024.
President Tinubu’s official visit to the Netherlands, as announced through a statement on the official X account of the Presidency Nigeria on Monday, comes at the invitation of Prime Minister Mark Rutte.
During his time in the Netherlands, President Tinubu will engage with Prime Minister Mark Rutte and hold separate meetings with His Royal Majesty King Willem-Alexander and Queen Máxima. Queen Máxima serves as the United Nations Secretary General’s Special Advocate for Inclusive Finance for Development (UNSGSA).
Furthermore, the President will participate in the Nigerian-Dutch Business and Investment Forum that will bring together heads of conglomerates and organizations in both countries to explore opportunities for collaborations and partnerships, especially in agriculture and water management towards innovative solutions for sustainable farming practices.
- “There will also be extensive discussions with Dutch officials on port management operations for which they have world-renowned experience,” the statement added.
More insight
The statement further revealed that following President Tinubu’s visit to the Netherlands, he will travel to Saudi Arabia for a two-day World Economic Forum.
The World Economic Forum will be held in Riyadh from April 28 to April 29, 2024.
- “After his engagements in the Netherlands, the President will proceed to attend a special World Economic Forum (WEF) scheduled for April 28-29 in Riyadh, Saudi Arabia,” the statement read in part.
The forum, emphasizing global collaboration, growth, and energy for development, will gather over 1,000 leaders from business and academia.
The statement also revealed that President Tinubu, accompanied by ministers and senior officials, will leverage this platform to advance discussions aligning with his administration’s objectives for Nigeria under the Renewed Hope Agenda.
President Bola Tinubu’s entourage on these diplomatic visits will comprise some ministers and government officials.Bola Tinubu, World Economic Forum, Prime Minister Rutte, Kingdom of Netherlands.
[Nairametrics]
The Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite has said more Nigerians will benefit from the ongoing disbursement of N50,000 by the federal government.
TheNewsGuru.com (TNG) reports Dr Uzoka-Anite made this known on Monday while announcing that the loan disbursement for MSMEs and the manufacturing sector had commenced.
According to the Minister, the initial disbursements to nano businesses have shown great success, supporting 1 million nano businesses across Nigeria.
Confirming that application for the presidential conditional grant scheme is closed, Uzoka-Anite disclosed that disbursements are ongoing.
“More beneficiaries will receive their grants this week. The process is ongoing. Only 10% of the beneficiaries have been paid thus far. More disbursements will be made this week and in the weeks to come. A list of all beneficiaries will be published at the end of the process.
“Once the disbursement process is complete all beneficiaries will be listed on the fedgrantandloan.gov.ng website. The process is ongoing and so far only about 10% of the 1 million beneficiaries have been paid. More will be paid this week and in the weeks to come.
“1 million beneficiaries will be paid across all the 774 local governments of the federation. This is roughly 1,290 people per local government. The process of disbursement is ongoing and a full list of beneficiaries will be published once complete.
“The two programmes are running concurrently. The grant portal is closed and disbursements have started and are ongoing. The loans portal remains open and eligible applicants are welcome to visit http://fedgrantandloan.gov.ng or their nearest Bank of Industry branch,” she said.
On the federal government’s presidential N200 billion fund for MSMEs and the manufacturing sector, Uzoka-Anite revealed that N75 billion had been set aside for MSMEs while another N75 billion for manufacturing.
[TNG]
The Senate Committee on Power has summoned the Minister of Power, Adebayo Adelabu, and the National Electricity Regulatory Commission (NERC) leadership over the recent electricity tariff hike.
The Chairman of the Senate Committee on Power, Senator Enyinnaya Abaribe, made this known on Monday during the committee’s oversight function and a familiarisation tour to the Minister.
Abaribe stated that the minister and NERC officials would appear before the committee for investigative hearing on the recent electricity tariff hike in the country.
The Senator also expressed worry over the poor power situation in the country despite the huge sums of money injected into the power sector.
He said, “The Senate has already authorised an investigative hearing scheduled for the 29th of April, 2024. The major agencies of government will answer.
“We have summoned the National Electricity Regulatory Commission (NERC). We will give them opportunity to speak to the electricity tariff hike. The minister of power is of course, expected.”
Senator Abaribe expressed worry that the key players still lamented an avalanche of challenges and questioned why the TCN and other agencies in the power sector had consistently allowed the power grid to collapse over the years.
He, however, said the committee would report to the Senate, as requested by the TCN top echelon, to see if there could be a review of its annual budget for improved service delivery.
During the visit, the Senate committee inspected a power project on the premises of the ministry and held an oversight with the Transmission Company of Nigeria (TCN) on the issue of power generation and transmission.
In his remarks, the minister enumerated the challenges affecting the power sector, including poor funding, vandalism, issues of right-of-way, and a lack of gas, among many others, and asked the committee to support the power ministry in achieving its mandate.
Abaribe was in company with many senators in the committee, including Senator Dajuma Goje (Gombe Central), Simon Lalong (APC, Plateau South), and Osita Izunaso (Imo West), among others.
[NaijaNews]
The Deputy Secretary General of the United Nations, Ms Amina Mohammed, suggested that one of the ways to remove the engenders of terrorism on the continent is for Africa to work to rebuild its social contract with its citizens, and deliver good governance.
“Rebuilding the social contract is necessary for recovery. We must pay attention to women and girls who are greatly impacted by terrorism, including the youth. Providing support and healing for those impacted by terrorism is important,” she said while speaking at the African High-level Meeting on Counter-Terrorism in Abuja on Monday.
President Bola Tinubu, while speaking at the occasion, called for the establishment of a regional counter-terrorism centre that would tackle the spate of insecurity across the borders of African states.
He said the centre will serve as a hub for intelligence sharing, operational coordination, and capacity building throughout Africa.
The president said Africa must take a comprehensive approach to combating terrorism, not only through might, but by addressing the root causes of the scourge like marginalisation, poverty, inequality, and social injustice.
President Tinubu explained that while seeking to address the root causes of terrorism, Africa must also attack the roots that feed its evil branch like ransom and illegal mining, “as terrorism evolves and perfects ways to continuously finance, re-equip, and re-supply itself for its sinister mission.”
The president, who lamented the effect on the people, said, “Not only does it kidnap people; it kidnaps precious resources. Billions upon billions of dollars that legitimate governments should be using to sculpt better societies by providing education, healthcare, and food for its people now go to pay for weapons and response to mayhem.
“Look at the illegal mining that plagues so many of our nations today. Those who think illegal mining has no connection with financing terrorism are sorely mistaken. The international community has both the moral and legal obligation to help in this cause because it is external finance, not African money, that fuels these illegal operations. We shall be knocking on this door of the international community to answer this call for justice, peace, and fair play.
“Key to our collective efforts against terrorism is the urgent need for a fully operational Regional Counter-Terrorism Centre.”
The president, however, added that the African region must strengthen existing counter-terrorism structures, such as the Regional Intelligence Fusion Unit (RIFU) in Abuja, the African Centre for the Study and Research on Terrorism (ACSRT) in Algiers, and the Committee of Intelligence and Security Services of Africa (CISSA) in Addis Ababa.
He underscored the importance of a regional standby force that includes tackling terrorism as part of its mandate.
The president affirmed that Nigeria is committed to working with regional partners to strengthen arms control measures, enhance border security, and disrupt the illicit trafficking networks that fuel terrorism and organised crime, while urging firm and expeditious actions against prevailing insecurity on the continent.
In his welcome address, National Security Adviser, Malam Nuhu Ribadu, stated that terrorism in Africa is driven by a number of factors, including organised crime, foreign terrorist financing and training, poverty, inequality, prolonged conflicts, among others.
He said Nigeria is dealing decisively with all the drivers of violent extremism, including economic and social enablers, while enhancing intelligence gathering through enhanced inter-agency collaboration and confidence building with citizens.
He also said Nigeria is strengthening its judiciary to effectively deal with cases of terrorism and has earmarked a fund to boost counter-terrorism efforts.
“We have resumed the prosecution of Boko Haram suspects across the country,” Ribadu said.
Under-Secretary-General of the United Nations Office of Counter-Terrorism (UNOCT), Mr Vladimir Voronkov, commended Nigeria for its leadership in counter-terrorism in Africa and for hosting the meeting.
[DailyTrust]
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The Rivers State House of Assembly has passed the Local Government Amendment Bill into law without the assent of Governor Siminalayi Fubara.
The Assembly passed the Bill yesterday, despite the State High Court’s order directing the status quo on the issue of elongating the tenure of elected local government officials, which formed part of the amendment.
The Assembly was said to have also screened and confirmed the chairman and other members of the Assembly Service Commission in the spirit of the new law.
The Local Government Amendment Bill has increased to four the number of such laws that were enacted in the state without the assent of Fubara since the political crisis in the state started.
A statement by the Special Adviser on Media to the Speaker of the House, Martins Wachukwu, said the Assembly passed the law at its 159th legislative sitting.
On March 13, the Assembly passed the Bill and forwarded same to Fubara for assent, but the governor declined, according to the statement.
The Bill was re-presented by Majority Leader Major Jack and debated upon by other lawmakers.
The statement said the provisions of Section 100(5) of the 1999 Constitution of the Federal Republic of Nigeria, as amended, empowers the Assembly to override the governor where he withholds assent to a law.
It said Speaker Martin Amaewhule put the question to other lawmakers and, and with a two-thirds majority votes, the Assembly agreed to override the governor and passed the Bill into law.
The statement also said the House screened and confirmed nominees for the position of Chairman and members of the Assembly Service Commission.
Those screened and confirmed are: Sampson Worlu, as Chairman; with Abinye Blessing Pepple, Mrs. Blessing Belema Derefaka, Mr. Gbaranen Robinson, and Madam Dorcas Amos, as members.
On March 22, the Assembly passed the Rivers State Assembly Service Commission (Amendment) Bill into law, giving itself the power to appoint the chairman and members of the commission.
Also, Amaewhule announced the death of Mr. Lucky Amadi, the husband of the member representing Obio/Akpor Constituency II, Emilia Lucky Amadi, saying other lawmakers would pay a condolence visit to their bereaved colleague.
Amaewhule had earlier given insight into some of the provisions of the amended local government law.
The Speaker said Section 9(2), (3) and (4)of the principal law empowers the Assembly, via a resolution, to extend the tenure of elected chairmen and councilors, where it is considered impracticable to hold local government elections before the expiration of their three-year tenure.
He said the amendment was meant to ensure that local government elections were conducted before the expiration of the outgoing local government administration.
But the Rivers State High Court, sitting in Port Harcourt, recently issued an interim injunction ordering that the status quo be maintained.
This followed the Assembly’s move to extend the tenures of the elected local government councils’ officials.
The court asked all the parties to maintain the status quo ante belum pending the hearing and determination of motion on notice for the interlocutory injunction.
The orders were made following a suit filed by executive chairmen of Opobo-Nkoro Local Government (Enyiada Cooky-Gam), Bonny Local Government (Anengi Claude-Wilcox), and five other elected council officials challenging the decision of the Amaewhule-led Assembly to extend the tenure of local government areas.
Also named as defendants in the suit are: the governor of Rivers State, the government of Rivers State, and the Attorney-General of Rivers State.
[TheNation]
The Naira, yesterday, depreciated to N1,250 per dollar in the parallel market, from N1,140 per dollar on Thursday.
Similarly, the Naira depreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,234.49 per dollar.
Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,234.49 per dollar from N1,169.99 per dollar last week Friday, indicating N64.5 depreciation for the naira.
Consequently, the margin between the parallel market and NAFEM rates narrowed to N15.51 per dollar from N29.99 per dollar last weekend.
[Vanguard]
The federal government says it would sell off five electricity distribution companies (DisCos) under the management of banks and Asset Management Corporation of Nigeria (AMCON) in the next three months to technical power operators.
Adebayo Adelabu, minister of power, spoke in Abuja on Monday when the members of the senate committee on power visited the ministry.
The five DisCos include Abuja Electricity Distribution Company (AEDC), currently under the management of the United Bank for Africa (UBA); Benin Electricity Distribution Company, Kaduna Electricity Distribution Company, and Kano Electricity Distribution Company, managed by Fidelity Bank, while Ibadan Electricity Distribution Company is under AMCON management.
The DisCos are under the management of the banks and AMCON due to their debt burden.
Adelabu said the energy distribution assets are technical and as such, they should be under the management of technical experts.
He also said the tough decision on the DisCos has become necessary because the entire Nigerian Electricity Supply Industry (NESI) fails when they refuse to perform.
According to Adebayo, the ministry will prevail on the Nigerian Electricity Regulatory Commission (NERC) to revoke underperforming licenses and also change the management board of the DisCos if it becomes the solution.
“On distribution, very soon you will see that tough decisions will be taken on the DisCos. They are the last lap of the sector. If they don’t perform, the entire sector is not performing,” Adebayo said.
”The entire ministry is not performing. We have put pressure on NERC, which is their regulator to make sure they raise the bar on regulation activities.
”If they have to withdraw licenses for non-performance, why not? If they have to change the board of management, why not?
“And all the DisCos that are still under AMCON and Banks, within the next three months, must be sold to technical power operators with good reputations in utility management.
“We can no longer afford AMCON to run our DisCos. We can no longer afford the banks to run our DisCos. This is a technical industry and it must be run by technical experts.”
The minister further said it has become necessary to reorganise the DisCos for efficiency.
He stressed that Ibadan DisCo is too large for one company to manage.
FG TO REVOKE METRE CONTRACT FROM FIRM
Adelabu also dropped the hint that the federal government mobilised a company named Messr Zigglass with $200 million (N32 billion) to supply three million meters that were yet to be supplied to date.
“If you held N32 billion for these years, where is the interest,” he asked.
According to Adelabu, President Bola Tinubu directed that the contract be revoked.
He said the government will bridge the current eight million metering gap in the next four to five years.
The minister said the funding for the metre is coming from a seed capital of N100 billion and N75 billion.
He added that the Nigerian Sovereign Investment Authority (NISA) is coming to the aid of the ministry with the fund.
[TheCable]
[STATE HOUSE PRESS RELEASE] President Tinubu Calls for Regional Counter-Terrorism Centre, Says Africa Must Address Poverty, Social Injustice
AdminPresident Bola Tinubu has called for the establishment of a regional counter-terrorism centre that will serve as a hub for intelligence sharing, operational coordination, and capacity building throughout Africa.
Speaking at the African High-level Meeting on Counter-Terrorism in Abuja on Monday, the President said Africa must take a comprehensive approach to combating terrorism, not only through might, but by addressing the root causes of the scourge, which include poverty, inequality, and social injustice.
President Tinubu emphasized that while seeking to address the root causes of terrorism, Africa must also attack the roots that feed this evil branch -- ransom and illegal mining -- as terrorism evolves and perfects ways to continuously finance, re-equip, and re-supply itself for its sinister mission.
"Not only does it kidnap people, it kidnaps precious resources. Billions upon billions of dollars that legitimate governments should be using to sculpt better societies by providing education, healthcare, and food for its people now go to pay for weapons and response to mayhem.
"Look at the illegal mining that plagues so many of our nations today. Those who think illegal mining has no connection with financing terrorism are sorely mistaken. The international community has both the moral and legal obligation to help in this cause because it is external finance, not African money, that fuels these illegal operations. We shall be knocking on this door of the international community to answer this call for justice, peace, and fair play.
"Key to our collective efforts against terrorism is the urgent need for a fully operational Regional Counter-Terrorism Centre," the President stated.
The President, however, added that the African region must strengthen existing counter-terrorism structures, such as the Regional Intelligence Fusion Unit (RIFU) in Abuja, the African Centre for the Study and Research on Terrorism (ACSRT) in Algiers, and the Committee of Intelligence and Security Services of Africa (CISSA) in Addis Ababa.
He underscored the importance of a regional standby force that includes tackling terrorism as part of its mandate, declaring: "It must not be abandoned."
"I am mindful of the funding, legal, and logistical complexities that face the proper establishment of such a force. However, with a prudent and clearly defined mandate that accords with the international law and respects national sovereignty, such a force can serve as a rapid deployment mechanism, capable of swiftly responding to major threats and bolstering the security of our region.
"Such a force can stand as a strong deterrent to large scale and protracted terrorist operations and the capture, occupation or disruption of strategic land and resources. We must continue to make careful yet meaningful progress toward this goal.
"Establishing an all-inclusive African Union Ministerial Committee on Counter Terrorism is also a high priority as envisaged in the Declaration of the 16th Extraordinary Summit of the African Union Assembly two years ago in May 2022. This would ensure that a forum of high-level government officials meets regularly to assess our counter-terrorism efforts and provide guidance on how to further improve," the President said.
Speaking on the efforts of Nigeria in beating the menace, President Tinubu said the nation's counter-terrorism capabilities have been enhanced through the enactment of the Terrorism Prevention and Prohibition Act, establishing the National Counter Terrorism Centre (NCTC).
"We have and will continue to take bold steps forward in safeguarding our nation and the wider region. Dedicated to coordinating and implementing counter-terrorism strategies, the NCTC significantly enhances our capacity to detect, prevent, and respond to terrorist threats. The Centre has become a platform; fostering greater collaboration among stakeholders and promoting synergy in our approach to fighting terrorism.
"Similarly, our security forces continue to demonstrate courage and dedication in the fight against terrorism, often at great personal risk. I am grateful to the selfless work and sacrifice of these patriotic men and women. They are the best of the best.
"I must also mention the ongoing need to halt the proliferation of Small Arms and Light Weapons (SALW) on the continent. No one state can solve this problem for itself. It requires continuous and concerted action by all of us. We need to reposition our regional organizations and build the capacity of our national institutions to effectively address this element of terrorism and violent extremism," the President stated.
The President affirmed that Nigeria is committed to working with regional partners to strengthen arms control measures, enhance border security, and disrupt the illicit trafficking networks that fuel terrorism and organized crime, while urging firm and expeditious actions against prevailing insecurity on the continent.
"As leaders, let us show our people that their safety and welfare are paramount. May this conference be succinct and to the point. Let us keep rhetoric to a minimum. Let us be focused and dedicated to pinpointing solutions and embarking on the meaningful and strong action needed to win the day and free our continent of violent extremists.
"May we do everything that is required of us to defeat this challenge so that five, ten or twenty years from now, it is historians who will be meeting to discuss how today became a major turning point in the African continent’s defeat of the terrorist scourge," President Tinubu concluded.
In his welcome remarks, National Security Adviser, Mallam Nuhu Ribadu stated that terrorism in Africa is driven by a number of factors, including organized crime, foreign terrorist financing and training, poverty, inequality, prolonged conflicts, among others.
He said Nigeria is dealing decisively with all drivers of violent extremism, including economic and social enablers, while enhancing intelligence gathering through enhanced inter-agency collaboration and confidence building with citizens.
He also said Nigeria is strengthening its judiciary to effectively deal with cases of terrorism and has earmarked a fund to boost counter-terrorism efforts.
"We have resumed the prosecution of Boko Haram suspects across the country," the National Security Adviser said.
In her remarks, Deputy Secretary-General of the United Nations, Ms. Amina Mohammed suggested that one of the ways to remove the engenderers of terrorism on the continent is for Africa to work to rebuild its social contract with its citizens, and deliver good governance.
"Rebuilding the social contract is necessary for recovery.
"We must pay attention to women and girls who are greatly impacted by terrorism, including the youth. Providing support and healing for those impacted by terrorism is important," the UN Deputy Secretary-General said.
Under-Secretary-General of the United Nations Office of Counter-Terrorism (UNOCT), Mr. Vladimir Voronkov commended Nigeria for its leadership in counter-terrorism in Africa and for hosting the meeting.
"Terrorism is a threat to peace and security, particularly in Africa where its impact is mostly felt. The success of UNOCT in Africa hinges on its support for Africa-led programmes and solutions," the UNOCT Under-Secretary-General said.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)