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The immediate past governor of Kaduna State, Mallam Nasir El-Rufai is preparing to fight President Bola Tinubu in at least two courts, Saturday Vanguard can report.
The prospects of the battle are to be staged in the courts of the land where El-Rufai expects to clear his name of the allegation of being a security risk, and also in the court of public opinion where political actors expect him to be a major barricade to the president’s re-election in 2027.
The stage for the coming battle follows what both friends and foes of the former governor assert as his public humiliation by the Tinubu administration of being a security risk unfit for ministerial office.
In a way that has garnered public interest, Mallam as he is fondly referred to by his close associates, has excited the political class with gyrations across the North in the last two weeks.
Besides two public meetings with the Social Democratic Party, SDP chiefs, the former governor has consolidated his identity with the political opposition with a visit to the suspended lawmaker representing Bauchi Central Senatorial District, Senator Abdul Ningi.
The proclivity towards the opposition follows what friend and foe describe as the public humiliation served on the former governor.
El-Rufai according to multiple sources despite his immense contributions both strategically and financially to the emergence of Tinubu as president had pledged not to serve in the new government.
The former governor had reportedly preferred a sabbatical in academia.
He was, however, courted by the president with a plea to help revive the energy sector. Even before his ministerial announcement, El-Rufai it was gathered had started laying down plans and processes to tackle the sector. His preparation flowed from his years as director-general of the Bureau for Public Enterprises, where he was involved in the energy reform programmes of the Olusegun Obasanjo administration.
However, to the shock of all El-Rufai was dropped during the Senate ministerial screening on the claim that he failed security clearance.
The shock of the failure to get a security clearance numbed several political actors given his strategic role in moving the hands of Northern governors to back Tinubu ahead of the All Progressives Congress, APC convention. Besides, it was gathered that the former governor played key roles in facilitating the election of the president in some Southwest states not controlled by the APC.
A senior government official from one of the Southwest states on the condition of anonymity said:
“He played a key role in funding us in my state and I can tell this because I was personally involved,” the official from one of the Southwest states said.
Besides the significant contribution as attested by the official from the Southwest State, El-Rufai in the twilight of the Muhammadu Buhari administration also shocked many with his decision to, along with others challenge the Federal Government over the naira redesign project of the federal government.
Defending why he opposed the Buhari government on the naira redesign policy, El-Rufai had claimed it was meant to instigate the polity against the APC by those around the former president who failed in their bid to stop Tinubu from getting the presidential ticket.
“They also sought to achieve any one or more of the following objectives: create a nationwide shortage of cash so that citizens are incited to vote against APC candidates across the board resulting in massive losses for the Party in all the elections.”
However, despite his stellar role in helping Tinubu to power, a source close to El-Rufai disclosed that the camp of the former governor believed that it was wrong for him to have been so publicly humiliated and to have been tagged a security risk.
One of the confidants of the former governor told Saturday Vanguard:
“You think Mallam will allow this tag to abide on him? I can assure you that he is going to clear his name in court.
El-Rufai is a man who has many contacts internationally and he is not one to allow his reputation to be smeared by the reason given by the Senate of being a security risk,” the source said in revealing the prospects of court action to enable the former governor to clear his name.
Besides the resort to the court of law, the former governor it was gathered is also mobilising to play a role against Tinubu in the court of public opinion ahead of 2027.
Whether El-Rufai would stand as a candidate or mobilise against the president in 2027 in the same way he did in supporting him in 2023 is, however, a matter that is yet to be determined.
Saturday Vanguard reports that the strategic facilitation provided by El-Rufai to Tinubu came after he had in the past lampooned Tinubu as a godfather. He had at a lecture in May 2019 averred that it was possible to defeat the godfather of Lagos.
A year later at a webinar to commemorate the 63rd birthday of Rauf Aregbesola in May 2020, El-Rufai had said that Tinubu was not his man.
While congratulating Aregbesola, El-Rufai said, “I want to congratulate my brother, Ogbeni (Aregbesola), on his birthday. You know I’m your man any day. I’m not Asiwaju’s man and you are Asiwaju’s man, but I am your man any day. Asiwaju and I have differences but you and I have no differences.”
The Economic and Financial Crimes Commission (EFCC) has filed new criminal charges against Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN).
The 26-count charge borders on accepting gratification, accepting gifts through agents, corruption, receipt of property fraudulently obtained, and conferring corrupt advantage on his associates.
The charge sheet, marked ID/23787c/2024, and dated April 3, 2024, was filed by Rotimi Oyedepo, a senior advocate of Nigeria.
The EFCC alleged that Emefiele was guilty of abuse of office between 2022 and 2023 in Lagos.
The former CBN governor will be arraigned on Monday, April 8, before Rahman Oshodi, judge of an Ikeja high court, in Lagos.
The commission alleged that Emefiele “directed to be done in abuse of the authority of your office, as the governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians”.
The EFCC further alleged that Emefiele, between 2020 and 2021, in Lagos, “directed to be done in abuse of the authority of your office, as the governor, Central Bank of Nigeria, an arbitrary, act to wit: allocating foreign exchange in the aggregate sum of $291,945,785.59, without bids, which act is prejudicial to the rights of Nigerians”.
Emefiele was also alleged to have, in 2021, in Lagos, “directed to be done in abuse of the authority of your office, as the governor, Central Bank of Nigeria, an arbitrary act, to wit: special allocation of foreign exchange in the aggregate sum of $1,769,254,793.16, which act is prejudicial to the rights of Nigerians”.
Emefiele’s co-defendant was alleged to have collected $110,000 for Emefiele as a reward for allocating foreign exchange by the central bank in favour of one Raja Punjab in November 2020.
According to the charge, the offences committed contravened Section 73 of the Criminal Law of Lagos State, 2011.
Emefiele is currently facing a 20-count amended charge bordering on alleged criminal breach of trust, forgery, conspiracy to commit forgery, procurement fraud and conspiracy to commit a felony.
In July 2023, President Bola Tinubu appointed Jim Obazee, former chief executive officer (CEO) of the Financial Reporting Council of Nigeria (FRCN), as a special investigator to probe the activities of the CBN and related entities.
On December 22, 2023, Obazee’s team submitted its report to Tinubu — revealing alleged fraudulent activities and malfeasance in Nigeria’s apex bank.
In the report, the special investigator’s panel accused Emefiele of consenting to the “unlawful removal” of $6.23 million from the vault of the apex bank’s Abuja office.
[TheCable]
The federal government announced on Friday the reasons behind the sudden national increase in electricity prices, citing its inability to continue providing N2.93 trillion in power subsidies this year.
The information was provided by Mr. Adebayo Adelabu, the Minister of Power, at a media conference in Abuja that was organised by Mohammed Idris, the Minister of Information and National Orientation.
The Minister of Power made the point that raising the price of energy has become necessary in order for the federal government to cut spending and use the money saved to strengthen the nation’s supply and generation of power.
Adelabu clarified, however, that the 15% of electricity users who receive at least 20 hours of electricity are not impacted by the new tariff increase, and the 85% of users who do not reside in Band A would still receive subsidised power supplies.
The minister stated that the government subsidy will decrease from approximately N2.93 trillion to N1.5 trillion as a result of the small rate hike, freeing up funds for additional investments in the power industry to enhance generation, transmission, and distribution.
The minister clarified that in order to prevent worsening the situation of Nigerians, the administration of President Bola Tinubu was hesitant to eliminate all electrical subsidies due to its empathy for their suffering.
“We cannot remove 100 subsidy because of the suffering of Nigerians. We cannot allow our people to suffer.
According to Adelabu, the cost is still less than that of alternative energy sources like solar and diesel.
The minister also revealed that several projects had been completed in accordance with the 2018 agreement Nigeria and Germany struck to enhance the nation’s electricity supply.
As part of the N2.3 billion agreement between the two countries, Siemens provided three mobile stations and ten power transformers for installation.
This is in response to the Abuja Electricity Distribution Company (AEDC) being fined by the Nigerian Electricity Regulatory Commission (NERC) on Friday for falsely classifying all customers as Band A customers as soon as the federal government announced the pricing rise.
Speaking at a news conference that was attended by the ministers of power and information, Dr. Musiliu Oseni, vice chairman of the Nigerian Electricity Regulatory Commission, announced the sanction on AEDC.
Additionally, Dr. Oseni issued an order to all other distribution companies in the country to either fully reimburse their consumers for whatever excess money they charged them by Thursday of the following week, or face harsh penalties.
Oseni issued a warning, stating that discos must attend to electrical users as soon as possible or face severe penalties under applicable legislation.
This coincides with the fact that the Abuja Electricity Distribution Company (AEDC) was penalised by the Nigerian Electricity Regulatory Commission (NERC) on Friday for falsely classifying all customers as Band A customers as soon as the federal government announced the rise in tariff.
[OpinionNigeria]
Speaking at a news conference that was attended by the ministers of power and information, Dr. Musiliu Oseni, vice chairman of the Nigerian Electricity Regulatory Commission, announced the sanction on AEDC.
Additionally, Dr. Oseni issued an order to all other distribution companies in the country to either fully reimburse their consumers for whatever excess money they charged them by Thursday of the following week, or face harsh penalties.
Oseni issued a warning, stating that discos must attend to electrical users as soon as possible or face severe penalties under applicable legislation.
This coincides with the fact that the Abuja Electricity Distribution Company (AEDC) was penalised by the Nigerian Electricity Regulatory Commission (NERC) on Friday for falsely classifying all customers as Band A customers as soon as the federal government announced the rise in tariff.
The minister said, “Let me reassure every Nigerian that this review is a strategic step toward a more sustainable, efficient, and equitable electricity sector. It lays the groundwork for significant improvements in service delivery, infrastructure development, and economic prosperity. Our focus must therefore remain steadfast on ensuring that the electricity sector’s transformation benefits all Nigerians, supports our industries, and propels our nation towards its bright future.
“You would also recall that the President Bola Ahmed Tinubu signed the Electricity Act (Amendment) Bill, 2024 into law to further strengthen the governance structure in the Power Sector and mandates the GENCOs to set aside five percent of their actual annual operating expenditure from the preceding year for the development of the host communities. The Act also removed Electricity from the Exclusive list to empower state government to generate and distribute electricity to residents,” Idris said.
The Economic and Financial Crimes Commission will on Monday, April 8, 2024, arraign the embattled former Central Bank of Nigeria governor, Godwin Emefiele at the Ikeja State High Court in Lagos for alleged abuse of office over allocation of billions of United States dollars.
Emefiele alongside his co-defendant, one Henry Isioma Omole, will be arraigned on 26 counts before Justice Rahman Oshodi.
The charge, marked ID/23787c/2024, dated April 3, 2024, was filed by Mr Rotimi Oyedepo (SAN).
EFCC alleged that Emefiele committed abuse of office between 2022 and 2023, in Lagos, of abuse of office.
The commission alleged that Emefiele “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.”
EFCC, further alleged that Emefiele between 2020 and 2021, in Lagos, “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary, act to wit: allocating foreign exchange in the aggregate sum of $291,945,785.59, without bids, which act is prejudicial to the rights of Nigerians.
Emefiele was alleged to have, in 2021, in Lagos, “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: special allocation of foreign exchange in the aggregate sum of $1,769,254,793.16, which act is prejudicial to the rights of Nigerians.”
In count four, the sum involved was $370,872,893.01.
Emefiele’s co defendant Omoile was alleged to have November, 17, 2020, in Lagos, whilst acting as an agent accepted from Raja Punjab through Monday Osazuwa, the total sum of $110,000, for Godwin Ifeanyi Emefiele, gifts as reward for allocating foreign exchange by the Central Bank in favor of Raja Punjab’s employer.”
According to the charge the offences committeed contravened Section 73 of the Criminal Law of Lagos State, 2011.
Meanwhile, President Bola Tinubu, on Friday, thanked the Central Bank Investigator, Mr Jim Obazee, for his services, officially closing the months-long investigation.
“Subsequent to the conclusion of the assignment and the submission of a final comprehensive report, and with the winding up of all apparatuses used during the scope of the task which terminated on March 31, 2024, the investigation is formally closed,” a statement signed by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, read Friday evening.
The statement is titled, ‘President Tinubu thanks Jim Obazee as special investigator of the CBN at conclusion of investigation.’
Tinubu noted that with the investigations closed, all appropriate law enforcement and regulatory agencies have since begun conducting follow-up action.
The President commended Mr. Obazee for the dedication and professionalism he exercised in handling the complexities of this critical national assignment.
He thanked the CBN investigator for answering the call of duty while wishing him success in his future endeavours.
On 30 July 2023, the President appointed Jim Obazee, Chief Executive Officer of the Financial Reporting Council of Nigeria, as a special investigator to probe the Central Bank of Nigeria and related entities.
2027 Election: El-Rufai Prepares Legal Battle To Clear Name, Confront Tinubu After Security Risk Tag Allegation
AFOLABIThe immediate past governor of Kaduna State, Mallam Nasir El-Rufai is preparing to fight President Bola Tinubu in at least two courts, according to Vanguard report.
The prospects of the battle are to be staged in the courts of the land where El-Rufai expects to clear his name of the allegation of being a security risk, and also in the court of public opinion where political actors expect him to be a major barricade to the president’s re-election in 2027.
The stage for the coming battle follows what both friends and foes of the former governor assert as his public humiliation by the Tinubu administration of being a security risk unfit for ministerial office.
In a way that has garnered public interest, Mallam as he is fondly referred to by his close associates, has excited the political class with gyrations across the North in the last two weeks.
Besides two public meetings with the Social Democratic Party, SDP chiefs, the former governor has consolidated his identity with the political opposition with a visit to the suspended lawmaker representing Bauchi Central Senatorial District, Senator Abdul Ningi.
The proclivity towards the opposition follows what friend and foe describe as the public humiliation served on the former governor.
El-Rufai according to multiple sources despite his immense contributions both strategically and financially to the emergence of Tinubu as president had pledged not to serve in the new government.
The former governor had reportedly preferred a sabbatical in academia.
He was, however, courted by the president with a plea to help revive the energy sector. Even before his ministerial announcement, El-Rufai it was gathered had started laying down plans and processes to tackle the sector. His preparation flowed from his years as director-general of the Bureau for Public Enterprises, where he was involved in the energy reform programmes of the Olusegun Obasanjo administration.
However, to the shock of all El-Rufai was dropped during the Senate ministerial screening on the claim that he failed security clearance.
The shock of the failure to get a security clearance numbed several political actors given his strategic role in moving the hands of Northern governors to back Tinubu ahead of the All Progressives Congress, APC convention. Besides, it was gathered that the former governor played key roles in facilitating the election of the president in some Southwest states not controlled by the APC.
A senior government official from one of the Southwest states on the condition of anonymity said:
“He played a key role in funding us in my state and I can tell this because I was personally involved,” the official from one of the Southwest states said.
Besides the significant contribution as attested by the official from the Southwest State, El-Rufai in the twilight of the Muhammadu Buhari administration also shocked many with his decision to, along with others challenge the Federal Government over the naira redesign project of the federal government.
Defending why he opposed the Buhari government on the naira redesign policy, El-Rufai had claimed it was meant to instigate the polity against the APC by those around the former president who failed in their bid to stop Tinubu from getting the presidential ticket.
“They also sought to achieve any one or more of the following objectives: create a nationwide shortage of cash so that citizens are incited to vote against APC candidates across the board resulting in massive losses for the Party in all the elections.”
However, despite his stellar role in helping Tinubu to power, a source close to El-Rufai disclosed that the camp of the former governor believed that it was wrong for him to have been so publicly humiliated and to have been tagged a security risk.
One of the confidants of the former governor told Saturday Vanguard:
“You think Mallam will allow this tag to abide on him? I can assure you that he is going to clear his name in court.
El-Rufai is a man who has many contacts internationally and he is not one to allow his reputation to be smeared by the reason given by the Senate of being a security risk,” the source said in revealing the prospects of court action to enable the former governor to clear his name.
Besides the resort to the court of law, the former governor it was gathered is also mobilising to play a role against Tinubu in the court of public opinion ahead of 2027.
Whether El-Rufai would stand as a candidate or mobilise against the president in 2027 in the same way he did in supporting him in 2023 is, however, a matter that is yet to be determined.
Saturday Vanguard reports that the strategic facilitation provided by El-Rufai to Tinubu came after he had in the past lampooned Tinubu as a godfather. He had at a lecture in May 2019 averred that it was possible to defeat the godfather of Lagos.
A year later at a webinar to commemorate the 63rd birthday of Rauf Aregbesola in May 2020, El-Rufai had said that Tinubu was not his man.
While congratulating Aregbesola, El-Rufai said, “I want to congratulate my brother, Ogbeni (Aregbesola), on his birthday. You know I’m your man any day. I’m not Asiwaju’s man and you are Asiwaju’s man, but I am your man any day. Asiwaju and I have differences but you and I have no differences.”
Despite the public outcry trailing the recent 230.8 per cent rise in electricity tariff for premium power consumers nationwide, the federal government yesterday, hinted that it plans to extend a similar measure to every Nigerian who has access to on-grid electricity.
The government said it would convert the entire power sector into a single band from the current six, with cost-reflective prices being fully implemented in the next three years.
Speaking during a weekly briefing organised by the Ministry of Information in Abuja, the Minister of Power, Chief Adebayo Adelabu, said the recent development was the first step in government’s plan to completely remove subsidy payment.
Also, yesterday, the Nigerian Electricity Regulatory Commission (NERC) sanctioned the Abuja Electricity Distribution Company (AEDC) for violating its order on customer classifications.
However, the Northern Elders Forum (NEF); former Vice President and the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, Atiku Abubakar, and President of the Nigeria Labour Congress (NLC), Joe Ajaero, have faulted the recent increase in electricity tariff by the present government led by President Bola Tinubu.
In a separate document seen, the Nigerian Electricity Regulatory Commission (NERC), stressed that with the increase in tariffs for Band A customers from N68 to N225, it has succeeded in saving about N1.4 trillion from what it stated was the projected N3.2 trillion subsidy for 2024.
At the current price of N225, it argued that premium customers would be paying less than half of what they would otherwise spend if they deployed other alternatives like diesel-powered generators.
But Adelabu maintained that it no longer makes sense for the government to continue paying close to 70 per cent of electricity subsidy for Nigerians, explaining that to ensure the current economic downturn does not harshly impact the lower wrung of the society, government would embark on the gradual phase-out of underpayments for bands B-E and then lifeline.
Adelabu, said the federal government had spent about N2.9 trillion on electricity subsidy.
He said the government was still subsidising 85 per cent of electricity supply in the country despite increase in tariff for Band A customers.
He said the government remains pro-poor in its power policy because it is subsidising nothing less than 67 per cent of the cost of producing, transmitting, and distributing electricity in Nigeria.
He said the government is not ready to aggravate the sufferings by refusing to adopt 100 per cent withdrawal of subsidy on electricity
“This tariff review is in conformity with our policy thrust of maintaining a subsidised pricing regime in the short-run or the short-term with a transition plan to achieve a full cost reflective tariff for over a period of, let us say three years.
“It is because of government sensitivity to the pains of our people that will not make us migrate fully into a cost-reflective tariff or to remove subsidy 100 per cent in the power sector like it was done in oil and gas sector.
“We are not ready to aggravate the sufferings any longer which is why we said it must be a journey rather than a destination and the journey starts from now on, that we should do a gradual migration from the subsidy regime to a full cost-reflective regime and we must start with some customers.
“This is more like a pilot (scheme) for us at the Ministry of Power and our agencies. It is like a proof of concept that those that have the infrastructure sufficient enough to deliver stable power, those enjoying 20 hours of light should be the ones to get tariff added,” he pointed out.
Adelabu, argued that anybody that goes into any business intends to first recover cost, then if possible, make some profit, explaining that the moment a business cannot cover costs, the sustainability of such business is doubtful and will be run aground.
He observed that if the federal government was to pay the about N3 trillion subsidy for this year, it would be more than 10 per cent of the national budget for 2024.
“The power sector is just a single sector out of so many sectors that government has to attend to. We have works, we have housing, we have education, we have health, we have defence and so on that are all competing for this meagre revenue from the government.
“So it will be very insensitive on our part to force or compel government to continue to subsidise at that rate of almost N3 trillion for the power sector alone. We just have to be realistic and considerate. We also must ensure that the regulators are independent and there is consequence management,” he stressed.
With a little above 12 million registered electricity customers nationwide, Adelabu said the recent increase would only affect about 1.5 million customers.
The remaining 10.5 million customers, he said, would continue to enjoy government subsidy at about almost 70 per cent, until it is gradually phased out.
He emphasised that if the Discos are able to comply with the service level agreement, which is 20 hours for Band ‘A’ at the minimum, it is still far cheaper than the alternative source of diesel and petrol generators.
“You will agree with me that the average cost of generating a kilowatt hour of power today, using diesel and petrol generator is not less than N450 to N500 because of the capital investment of purchasing the generator, the daily operational fuelling of the generator and the intermittent servicing of these generators.
“The cost is not less than N500. So, if we are putting the tariff at N225, I believe it is more than 50 per cent cheaper than running alternative power sources,” Adelabu maintained.
He stressed that for the first time in many years, government was taking a bold step to address the fundamental issues confronting the power sector, including liquidity and pricing challenges.
The minister emphasised that the sector had been deprived of the required liquidity to keep it running on a sustainable level and is therefore no longer attractive to investors.
“Even the operators don’t have enough liquidity to invest in enhancement of their infrastructure. The generator companies cannot pay the gas companies, which is the raw material that they use to generate power. The generator companies cannot service their equipment.
“It got to a level that they cannot even pay the salaries of their workers because of the accumulated debt in the sector due to lack of liquidity and commercial pricing.
“And I believe that previous administrations have shied away from addressing this. It is a tough conversation, but we must have it at a point if we are serious about stable power sector in this country,” he added.
He assured that it might be painful in the short run, but the gains will come very soon and will be permanent.
At the moment, he stated that all Nigeria’s gas pipelines are bad as a result of vandalism, leading to a lack of adequate pressure in the gas pipes.
Former Vice President Atiku Abubakar has accused the men working with President Bola Tinubu of pushing the economy into deeper crisis even as he said reforms being introduced by the administration lacked human face.
The presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election stated this in a statement criticising the recent hike in electricity tariff, saying it will impose additional hardship on already suffering Nigerians.
“The President’s men are pushing the economy into a deeper crisis. His reforms are without a human face,” Atiku said in the statement.
The former PDP presidential flagbearer also emphasized that the increment on electricity tariff will have negative impact on the manufacturing industry.
He therefore advocated the need for the government to understand the root cause of the inefficiencies in the power sector before unleashing another dose of reforms, insisting that it was time to revisit the privatisation exercise that produced the Distribution Companies (DISCOs).
Atiku also accused the government of adding another reforms without adequate notice and without sufficient post-reform plan to mitigate the associated pain on the people.
He said the upward review in electricity tariff comes at a time when Nigerians were going through excruciating difficulties occasioned by the withdrawal of subsidy on PMS and floating of the Naira.
While noting that the government has not successfully dealt with the pains associated with the implementation of those measures, Atiku said the hike in electricity tariff will create more difficulties for the citizens as inflationary pressures are elevated.
“Our manufacturing sector will similarly be impacted negatively. Not only are they paying higher interest rates on their bank loans but also paying more for diesel, paying higher wages as a result of the new minimum wage,” he noted.
He then charged the president to ensure that his reforms are introduced in sequence with measures in place to mitigate associated pains while holding the Nigerian Electricity Regulatory Commission (NERC) responsible for enhanced delivery.
“Tinubu must (a) ensure that these reforms are sequenced, (b) implement measures to mitigate the pain, and (c) hold the NERC responsible for ensuring improved service delivery,” Atiku said.
The President of the 8th Senate, Dr. Abubakar Bukola Saraki, is not interested in becoming the National Chairman of People Democratic Party (PDP), a top aide of the former Kwara State governor, Akintoba Fatigun, has revealed.
Saraki is one of the leading candidates being touted from the North-Central zone of the country as the likely next PDP national chairman to replace Dr. Iyorchia Ayu, who was forced out of office by a court order in 2023. Ayu hails from Benue State, same North-Central as Saraki.
But, Fatigun, a political adviser to Saraki, in a chat with newsmen on Friday said his principal wasn’t contemplating occupying the PDP national chairman position, describing Saraki’s decision on the matter as a “cast in rock”.
He added that the former Senate President has since communicated his ‘no show’ decision to the North-Central leadership of the biggest opposition party.
Recall that the North-Central zone has called on Amb. Iliya Damagum to relinquish the acting national chairmanship seat and allow the emergence of a substantive national chairman from the region where the party originally zoned the position to in 2021.
The PDP had fixed April 18, 2024, for its crucial National Executive Committee (NEC) meeting where the modalities for choosing the next national chairman of the party would be discussed and adopted.
President Bola Tinubu has thanked Mr. Jim Obazee, for his services as the Special Investigator of the Central Bank of Nigeria (CBN) and other related entities, declaring that the investigation has officially come to a close.
Presidential spokesman, Ajuri Ngelale, in a statement quoted the President as commending Mr. Obazee for the dedication and professionalism he exercised in handling the “complexities of this critical national assignment.”
Ngelale said, “Subsequent to the conclusion of the assignment and the submission of a final comprehensive report, and with the winding up of all apparatuses used during the scope of the task which terminated on March 31, 2024, the investigation is formally closed, with all appropriate law enforcement and regulatory agencies already conducting follow-up action.
“The President thanks Mr. Obazee for answering the call of duty while wishing him success in his future endeavours.”
Recall that President Tinubu in July appointed Obazee, former Chief Executive Officer of the Financial Reporting Council of Nigeria (FRC), to investigate the activities of the apex bank under Emefiele.
Following the findings of Obazee and his team, the former CBN Governor is already facing charges in court.
The report presented to the President against the former CBN Boss highlighted unauthorised funding of offshore bank accounts, fraudulent cash withdrawals from the CBN vault, gross financial misconduct involving the former governor and his Deputy Governors, substantial fixed deposit holdings amounting to £543.4 million, among others.
The report also highlighted manipulations in the Naira exchange rate, irregularities in the e-Naira project, unauthorised printing of new currency denominations, and substantial expenditures on legal fees.
[STATE HOUSE PRESS RELEASE] Mining And Education in Focus as President Tinubu Receives Letters of Credence from Newly-Appointed Ambassadors
AdminPresident Bola Tinubu, on Friday, welcomed newly-appointed ambassadors to Nigeria, expressing his commitment to enhancing cooperation in the areas of education, mining, culture, and tourism.
The President received Letters of Credence from the High Commissioner of Jamaica, Lincoln Downer; High Commissioner of Australia, Leilani Bin-Juda; and Ambassador of Romania, Florin Talapan at the State House, Abuja.
During separate meetings, President Tinubu assured them of Nigeria's support for a rewarding stay and reaffirmed his government's commitment to maintaining an open-door policy toward strengthening existing economic, cultural, and diplomatic relations.
Speaking when he received the High Commissioner of Jamaica, President Tinubu emphasized the importance of collaboration on trade, investment, and the Technical Aids Corps.
He reiterated Nigeria's readiness to reactivate energy cooperation with Jamaica, particularly in the context of climate change and the utilization of gas as a transition fuel.
''The essence of a relationship is to understand one another. With Nigeria's energetic and talented youth, we have a cultural affinity with Jamaica and a lot of potential for cooperation in the areas of culture and tourism that will benefit the youth populations of both countries," the President said.
The Jamaican High Commissioner conveyed his Prime Minister’s willingness for cooperation between Nigeria and Jamaica in various fields, such as energy, trade and investment, culture, and tourism.
He announced plans for a Jamaican business delegation to visit Nigeria later this year and invited Nigerian investors to explore opportunities in Jamaica’s special economic zones.
During the meeting with the High Commissioner of Australia to Nigeria, President Tinubu expressed appreciation for the longstanding relationship between Nigeria and Australia.
He acknowledged the shared values and interests between Nigeria and Australia as active members of the United Nations, the Commonwealth, and other multilateral institutions.
Acutely aware of Australia's world-leading position in iron ore export, the President emphasized the importance of strengthening cooperation in mining, following recent initiatives by the Minister of Solid Minerals Development, Dr. Dele Alake, to deepen ties between the two nations concerning developments in the sector.
"The Minister of Solid Minerals was in Australia recently, and we look forward to further collaboration in this area. We are also ready to deepen our mutual cooperation in the area of education," President Tinubu stated.
The Australian High Commissioner expressed enthusiasm for further collaboration during her tenure in Nigeria.
"I am the first Australian indigenous person to be appointed High Commissioner to Nigeria. I have been here for five months, and I love Nigeria. I love the people. I am sure my tenure here will be extremely fruitful for both sides," the High Commissioner told the President.
The Australian High Commissioner extended an invitation to President Tinubu to consider visiting Australia during the Commonwealth Heads of Government Meeting (CHOGM) in Samoa.
During the meeting with the Romanian Ambassador, President Tinubu assured the ambassador that Nigeria will explore more opportunities for collaboration with the EU-member country.
The Romanian Ambassador expressed his commitment to strengthening ties between Nigeria and Romania, particularly in the education, energy, and defence sectors.
He announced plans to increase scholarships for prospective Nigerian students interested in studying in Romania.
"Nigeria is a second home to me, and I have lived here for many years. I have to give back every good thing I have received from Nigeria. My country is looking towards a strategic alliance with Nigeria in the areas of education, energy, and defence," Ambassador Talapan told President Tinubu.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
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[STATE HOUSE PRESS RELEASE] President Tinubu To Corporate Nigeria: Hand in Hand with You, I Cannot Underperform on A Job I Campaigned For
AdminPresident Bola Tinubu says Nigeria's economy is at a turning point and will require the steadfast support of the private sector for sustained growth and prosperity.
Speaking during Iftar on Thursday in Abuja with members of the Nigerian business community, the President expressed gratitude for their support and pledged to engage with them more frequently.
''I would have summoned you before now, not during Ramadan, because you are a very valuable part of my constituency.
''There is no driver of the economy that is bigger than the private sector. If the private sector is not flourishing, there is no growth, no prosperity, no employment or development. No matter how flowery the speeches are, not even a mushroom will grow.
''Thank you for persevering. We are at a turning point in our economy. I do not have to do a quadratic equation to illustrate all of that to you. I just want to appreciate you for your endurance and perseverance,’’ the President said.
Sharing insights from his visit to the New York Stock Exchange in 2023, President Tinubu noted Nigeria's self-belief and determination to drive economic transformation from within.
''At the New York Stock Exchange, I appealed to foreign investors to consider Nigeria as a prime investment destination.
"At the end of my remarks, I told them we only want them to show their face and diversify Nigeria’s economy not as if we cannot do it ourselves.
"Tony Elumelu walked up to me and thanked me for making that statement. We can do it. Nigeria is a self-believer and can always deliver on its own. We know our first name and our last name. Our first name is: Spirit, and our last name is: Can do."
President Tinubu reiterated his commitment to fulfilling his mandate, emphasizing that he cannot afford to underperform, given the trust placed in him by the electorate.
"I have no reason to underperform as the elected President of the country because I campaigned for the job.
"I cannot complain about the job. I appreciate the gesture, and what you have told me this evening is very inspiring. Cut the costs. Fix the bends. Summon courage. Save the money, but push the economy. We will be there.There are some countries that have failed. There are some countries that have succeeded. In our time, in my time, all of us must work together to succeed. Thank you very much,’’ the President concluded.
In separate remarks at the Ramadan dinner, industrialists, bank executives, and entrepreneurs pledged their support towards the success of the administration’s economic programmes.
Mr. Tony Elumelu, Chairman of Heirs Holdings, assured the President that the Organized Private Sector (OPS) in the country is solidly behind him.
‘‘Your transformation journey to turn around the economy and businesses are very appropriate for the country.
‘‘We appreciate what you are doing. We know the journey will not be smooth, but given the will, we will get to the Promised Land.
‘‘We admire your decisiveness, and we appreciate what you are doing. You are extremely passionate about taking Nigeria to the Promised Land.
‘‘On behalf of the OPS, we want to assure you that we are 100 percent with you. We have engaged with your ministers and associates; we share ideas, and we support them. We know that under your leadership, you have the ability to heal Nigeria permanently,’’ Mr. Elumelu said.
Allen Onyema, Chief Executive Officer, Air Peace, charged business owners and manufacturers to work towards bringing down the cost of products and services.
Citing the example of Air Peace in reducing the cost of air tickets to London, Mr. Onyema thanked President Tinubu for improving the ease of doing business in the country.
''President Tinubu is thinking of the Nigeria of the future. The ease of doing business is coming back gradually. I can attest to that in the aviation sector because of the people you appointed to head that sector.
''I can also attest to what our High Commission in the United Kingdom did in making Air Peace flights into Gatwick Airport a possibility,’’ he said.
Dr. Stella Okoli, pharmacist and founder of Emzor Pharmaceutical Company, urged the President to look into providing more support for the pharmaceutical industry in the country to make it self-sufficient and self-financing.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
April 4, 2024
[STATE HOUSE PRESS RELEASE] President Tinubu Thanks Jim Obazee for Services as Special Investigator of The CBN at Conclusion of Investigation
AdminPresident Bola Tinubu thanks Mr. Jim Obazee, former Chief Executive Officer of the Financial Reporting Council of Nigeria (FRC), for his services as the Special Investigator of the Central Bank of Nigeria (CBN) and other related entities, upon his appointment on July 28, 2023.
The President commends Mr. Obazee for the dedication and professionalism he exercised in handling the complexities of this critical national assignment.
Subsequent to the conclusion of the assignment and the submission of a final comprehensive report, and with the winding up of all apparatuses used during the scope of the task which terminated on March 31, 2024, the investigation is formally closed, with all appropriate law enforcement and regulatory agencies already conducting follow-up action.
The President thanks Mr. Obazee for answering the call of duty while wishing him success in his future endeavours.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
April 5, 2024
The Federal Government has pegged vehicle speed limits on the Third Mainland bridge at 80 kilometres per hour.
Minister of Works, David Umahi, declared the latest speed limit during the official opening of the bridge.
The minister, who was represented by the Federal Controller of Works Lagos, Olukorede Kesha, expressed gratitude to Lagosians for their patience during the last five months of extensive repairs of the bridge.
The minister, while performing the reopening of the bridge, stated that other ancillary works like the installation of speed limits, guard rails, and CCTV, among others will end by May 24.
He lauded President Bola Tinubu for making funding seamless to achieve an indelible infrastructure upgrade, saying the underdeck rehabilitation would continue without any further hindrance to vehicular traffic.
Meanwhile, Kesha has advised road users to take ownership of the infrastructure and protect every installation on the bridge.
Also, the Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, has cautioned motorists against overspeeding as there are speed cameras that would capture them, with appropriate fines.
Osiyemi commended the federal government for the project, which according to him, is a total renewal of one of the most important bridges in Nigeria.
Motorists plying the road appreciated the federal government for collaborating with the State Government to rehabilitate the Third Mainland Bridge.
The Nigerian Electricity Regulatory Commission has taken enforcement action against the Abuja Electricity Distribution Plc (“AEDC”) for non-compliance with the Supplementary Order to the April 2024 Multi-Year Tariff Order 2024 for AEDC (the “Order”).
AEDC has been fined ₦200,000,000 (Two Hundred Million Naira) for failure to comply with the prescribed customer band classifications for the tariff billing.
This decision follows a detailed review and customer feedback, which revealed that AEDC had applied the new tariff to all customer bands, contrary to the Order, which was designed to ensure fair billing practices.
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AEDC is therefore mandated to:
Reimburse all customers in Bands B, C, D and E respectively that were billed above the allowed customer categories/tariff bands provided in the Order.
Reimburse through the provision of the balance of customer tokens that the affected customers would be entitled to receive at the applicable rates and all token reimbursements shall be issued to the affected customers by 11 April 2024.
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Pay the sum of ₦200,000,000.00 (Two Hundred Million Naira) as a fine for the flagrant breach of the Commission’s Order.
File evidence of compliance with the directives in a & c with the Commission by 12 April 2024.
The action by the Commission underscores its commitment to protecting consumer rights and ensuring equitable practices within Nigeria’s electricity sector.