Two weeks after President Bola Ahmed Tinubu directed the Ministry of Agriculture and Food Security to release 42,000 metric tons of maize, millet and other commodities from the national strategic reserve to Nigerians for free, the items are yet to be distributed.

This is amidst the biting cost of living crisis in the country which is believed to be largely caused by the present administration’s policies of petrol subsidy removal and currency floating.

 
 

The president’s directive to release grains to the citizens was aimed at addressing hunger which had triggered protests in some states.

 

Following the directive given on February 8, the Minister of Agriculture and Food Security, Abubakar Kyari, last Wednesday at a press conference in Abuja, said grains would be distributed free to poor Nigerians.

Kyari said, “This 42,000MT is going to the needy free of charge. It will be directly to the needy at no cost.” 

 

 

The minister said the grains would be released to the National Emergency Management Agency (NEMA) for onward distribution to Nigerians because the agency has the poverty index of the country.

 

 

 

“They know exactly where it is needed and they have a policy on how they transport and store it before it is distributed to the needy free.

“We have started working on that. We have already instructed NEMA to give us their work plan so that we can quickly go ahead and take possession of those stocks,” the minister said.

 

However, Daily Trust’s checks in many states showed that the grains were yet to be made available for distribution as of yesterday.

In Kano, grains had not been released to the state when our correspondent checked yesterday.

The Special Adviser to the Governor on Food Security, Hajiya Aisha Muhammad Idris, said the state was ready to distribute food items as soon as they were released.

 

Our correspondent in Kwara State reports that the grains promised by the federal government had not been released to the state.

NEMA’s head of operations for Kwara and Niger states, Zainab Saidu, told Daily Trust yesterday that “NEMA is not in possession of any grains yet. If there were, they would have contacted us at the zonal office and delivered straight to us. But there is nothing like that yet. I have not heard from my headquarters on the issue and I believe they (federal government) have not released anything yet.” 

Kwara SEMA chairman, Moshood Magaji, also said: “We have not received any message on the issue and my office is not handling anything like distribution. I do not know of any distribution from the federal government.”

Reports from Taraba also indicated that no grains had been released to the state as there were no grains at the NEMA office in the state when our reporter visited yesterday.

The situation was the same in Gombe and Ogun states, as NEMA officials there said they were yet to receive grains from the federal government.

Reports from Niger, Oyo, Cross River, Benue, Bauchi, Yobe, Kogi, and Nasarawa states also indicated that the federal government had not released food items to them yet.

 

We’re waiting – NEMA hqtrs

At its headquarters in Abuja, NEMA said it was yet to receive the grains from the agriculture ministry for distribution to Nigerians.

Its head of Press and Public Relations Unit, Manzo Ezekiel, however, told Daily Trust yesterday that they were in talks with the agriculture ministry on the development.

He said as soon as the grains were handed over to the agency, distribution would commence.

Why there’s delay – Agric ministry

The Director of Information, Federal Ministry of Agriculture and Food Security, Joel Oruche, neither answered phone calls nor replied to a text message sent to him by Daily Trust for explanation on why the grains had not been released as promised.

 

But an official in the ministry, who spoke to Daily Trust, on condition of anonymity, attributed the delay to data authentication.

He said this was to avoid the mistakes made during the previous distribution of palliatives.

“The ministry has been holding several inter-agency meetings at various levels to make sure the grains reach the intended impoverished people rather than falling into the wrong hands,” he said.

The official said the grains were in silos located in different parts of the country.

He added that the logistics and security modalities had to be properly worked out to have a hitch-free distribution exercise across the country.

However, credible sources told Daily Trust yesterday that despite claims by government officials, there is not enough grain reserve in the country.

One of the sources said it is better for the government to tell the citizens the truth instead of making promises that would not be fulfilled.

Findings revealed that Nigeria has 33 silos with a total capacity of 1.3 million metric tons for its Strategic Grain Reserve (SGR) system.

However, about 19 of these silos were concessioned to the private sector for a number of years.

The ministry has not given details of what is available in the national strategic grains reserve silos, describing it as a national security issue.

Agric Minister Abubakar Kyari during a recent briefing at the Joint Senate Committee on the State of the Economy, insisted that Nigeria’s grain reserves were not empty.

“On the issue of food reserve, I think a question was asked: Are the grains available? I will say yes, the ones we are about to release are available,” he said.

Invest in agric to tackle hunger, US urges govt  

Meanwhile, the United States has urged the federal government to invest in agriculture to address the food security challenges in the country.

The US Charge d’Affaires in Nigeria, David Greene, made the call yesterday at Ipao Ekiti, in Ikole Council Area of Ekiti State during a visit by the US Embassy to the 15,000-hectare Agbeyewa Farms. 

He urged leaders in Nigeria to harness the abundant arable lands, fertile soil and favourable weather endowments to provide food for Nigerians and for export. 

He said: “We are aware of the food security challenge and the post-harvest losses in Nigeria. With investments and leadership like this, I think the lives of a lot of Nigerians can be changed for the better.”

[DailyTrust]

 

Yakubu Gowon, former Nigerian head of state, says he did not turn down an invitation from the Economic Community of West African States (ECOWAS) to intervene in the coups ravaging the region.

Gowon spoke on Wednesday after a meeting with President Bola Tinubu at the State House in Abuja.

There were media reports that the former head of state turned down an invitation from the ministry of foreign affairs in collaboration with ECOWAS, to speak at a “press conference” at the commission’s headquarters in Abuja.

Gowon was reportedly supposed to speak on the current state of affairs at the regional level, with regards to coups and subsequent threats by the Republic of Niger, Mali and Burkina Faso to exit the bloc and likely proffer solutions.

Gowon who is one of the founding fathers of ECOWAS described the allegation as a miscommunication, adding that he came to meet the president for that purpose.

“This is my first visit to Mr President since the inauguration but I was there at the inauguration to wish him well and all success,” the former head of state said.

“If you remember how busy he was after that visitors, members of government, various personalities, so it was not possible for me to be able to see him.

 

“After that time I had to travel abroad but from broad he was able to reach me on my birthday and after that interesting social media report that I was dead.

“But when I came back I made a number of efforts but unfortunately I think because of his busy programme it was not possible for me to see him.

“But luckily enough, this time he was able to give me the opportunity to see him and to discuss various matters especially the issue of the ECOWAS problem at the moment which I think needs to be resolved.

“And being the surviving leader, or founding fathers of the ECOWAS I think we had to discuss some of his plans in order to see what can be done to bring the matter under control.

 

“So, this is what has brought me here and we had a very interesting meeting and I’m sure some of you have read reports that I refused to attend ECOWAS conference isn’t it? Is it you that did that report? Who did that? You know, trying to give that impression that it was me who was probably trying to sort of sabotage ECOWAS.

“No, that is not the case. I think there was a miscommunication but then it gave the opportunity for Mr President to call me so that we can discuss what I was to do.”

Gowon said resolutions were made regarding the situation, adding that the messages would be passed across in due time.

[TheCable]

The Nigerian government has ordered internet service providers to block access to the websites and apps of major cryptocurrency trading platforms including Binance, Coinbase, and Kraken.

Authorities said the move aims to crack down on the alleged use of these platforms by currency speculators and money launderers to manipulate the foreign exchange market and facilitate illicit fund flows, further weakening the struggling Nigerian naira.


Sources at major telecommunication firms said they received directives from the Nigerian Communications Commission (NCC) on Wednesday evening to implement the blockade of Binance, ForexTime, OctaFX, Crypto, FXTM, Coinbase, Kraken and others.


The action comes just days after the office of National Security Adviser (NSA) Nuhu Ribadu vowed to tackle speculative activities threatening Nigeria’s economic stability. Officials expressed concerns that criminals were exploiting crypto platforms to funnel ransom payments and engage in forex rate manipulation.

Previously, the Securities and Exchange Commission (SEC) declared operations of Binance Nigeria illegal as it lacked proper registration. However, Binance continued offering peer-to-peer trading services, drawing large volumes of transactions.


The naira recently hit record lows of 1,900 per dollar on parallel markets. The Tinubu administration is seeking urgent measures to halt the currency’s freefall, curb illicit financial activities, and stabilize the foreign exchange market.

The Department of State Services, DSS, has asked organised labour to shelve its planned nationwide protest over high cost of living and sundry issues in the country in the interest of peace.

But the Nigeria Labour Congress, NLC, yesterday dared the DSS to stop the protest, advising the secret police to face its of job providing credible intelligence to government on the devastating effect of the harsh economic policies.

It will be recalled that organised labour, had served the Federal Government a notice to embark on a twoday protest between February 27 and 28 to protest the hardship which arose from fuel subsidy removal and flotation of the naira by the present administration.

But reacting to the protest notice in a statement yesterday, the DSS said while it is the right of the labour movement to embark on protest, the body should not go ahead with it so as not to further jeopardise the prevailing situation in the country.

The statement signed by the DSS Director of Public Relations and Strategic Communications, Dr. Peter Afunanya, read: “While the Service recognises such action as the legitimate right of the labour movement, it, however, urges the body to shelve the plan in the interest of peace and public order.

‘Pursue dialogue instead’

“The DSS further calls on parties to pursue dialogue and negotiation rather than engaging in conduct that could heighten tensions. ‘’This is more so that the Service is aware that some elements are planning to use the opportunity of the protest to foment crisis and by extension, widespread violence. The development, without doubt, will worsen the socio-economic situation across the country.

“It is common knowledge that all levels of government are striving to ameliorate the prevailing economic condition and as such, should be given a benefit of the doubt. “So far, appropriate authorities are working assiduously with a spectrum of stakeholders to fashion out modalities to address the current difficulties. They should, therefore, be given the chance to handle the challenges at hand. “In this vein, citizens are encouraged to recognise that what remains unsolved in peace time, would not be attained in war-time. The timeless piece of the esteemed Poet, JP Clark, ‘The Casualties’ is a resonating reminder to us on the possible dangers of escalated conflicts.

In time of trouble, everyone will be a casualty. “Also, ongoing wars in the global scene is a stark reminder of their catastrophic repercussions on the affected countries’ domestic environments, thus the critical need to protect and maintain our internal stability and unity. “Those exploiting the fault lines in the country need to have a rethink as resort to negativities will endanger our peaceful coexistence with dire consequences. “Similarly, parents and guardians are implored to exert authority in guiding their children and wards from inimical acts capable of jeopardising public safety and harmony.

“Additionally, all sectors, including political parties, opposition groups, religious and traditional institutions, civil society and non-governmental bodies are called upon to eschew violence; demonstrate leadership and statesmanship in these challenging times.

 

“Making political capital out of the current situation or involving in divisive utterances at a time like this, will be of no benefit to any peace-loving Nigerian. Citizens are advised to be vigilant and not allow fifth columnists and hostile forces or agents use them to destabilise the peace of the nation. “The DSS stands opposed to violence as a means of settling our present day challenges, be they economic, political or otherwise.

“Accordingly, the Service will work with sister security and law enforcement agencies to ensure that lasting peace is maintained in the country.’’ However, countering the DSS yesterday, Nigeria Labour Congress, NLC, has dared it to stop the protest, arguing that workers have the right to protest the hardship they had been subjected to by government policies.

JAF takes on DSS, reaffirms support for NLC

Similarly, the Joint Action Front, JAF, the umbrella body for pro-workers civil society organizations, CSOs, also expressed angst against DSS’ opposition to non-violent civil protest, saying such statement from the agency could only have emerged from security operatives being hoodwinked and directed by a failing regime desperate to cover up its apparent mismanagement of the country’s affairs. President of NLC, Joe Ajaero, said in a telephone interview: “DSS should have warned the Federal Government not to proceed with their anti-people policies. Anyway, we don’t know their reasons for such warnings but we are not deterred by such. “DSS should rather concentrate on providing credible intelligence to government on the devastating effect of the harsh economic policies.

We believe it is the only way for the DSS to be useful to Nigeria. “It is unfortunate that we only see DSS with their warnings when the poor start crying over the beatings and whippings from government, instead of warning the government to stop flogging the poor masses.” On his part, Secretary of JAF, Abiodun Aremu, said: “JAF deplores this unwarranted and reckless statement credited to have emerged from the DSS. ‘’Such an irresponsible statement could only have emerged from the security operatives being hoodwinked and directed by a failing regime that is desperate to cover up its apparent mismanagement, clueless and apparent lack of understanding of how to govern and manage the nation’s resources.

“The DSS should be warned to desist from its destabilising plot, aimed at the Nigeria Labour Congress, NLC, under the pretense of non-existence security report, but one manufactured by its own operatives. “At this period, in which the country is almost grinding to a halt and the regime has run out of ideas, a responsible security agency could have authored an independent assessment of the current realities of failures of the current regime and present it as it is, rather than keep chasing deception and falsehoods. “JAF reaffirms its support to the NLC in its resolve to call out workers on February 27 and 28 to protest the economic hardship.”

Vanguard News

The Labour Party (LP) has decried the arrest of its national chairman, Barrister Julius Abure, by a combined team of police officers and operatives of the Department of State Security (DSS) on Wednesday in Benin, Edo State.

The national publicity secretary of the party, Obiora Ifoh, in a statement, shortly after videos of his arrest surfaced online, admitted that the embattled Abure was arrested by Police and DSS operatives, two days to the party’s governorship primaries for the November 2024 governorship election in the state.


According to him, a crowd of protesters on Wednesday besieged the Zone 5 headquarters of the Police Command in Benin City over the arrest of Abure, alongside the state chairman of the party, Mr Kelly Ogbaloi.


“The Labour Party on Tuesday had a very successful delegate election in Benin ahead of the Party Primaries scheduled to hold on Friday. The party chairman only this morning along with party governorship aspirants also kept a scheduled security briefing with the Department of the State Security (DSS).

“Abure was however arrested after the meeting by a combined team of DSS and Police officers. Abure, Ogbaloi and their aides were also manhandled.

“Effort by some party leaders to have access to the Zone 5 headquarters was turned down due to the huge crowd of party supporters who were expressing their displeasure over the arrest of Abure.

“However, a Police source informed the party officials and other governorship aspirants at the gate of the police headquarters that the arrest was in connection to a protest letter by one of the expelled member of the party loyal to Apapa dissident camp.

“The source also confirmed that the arrest was not unconnected to the ongoing party primary and the possible candidate that will emerge which the state government is vehemently opposed to,” Ifoh said.

He said the arrest was to frustrate the primary process and possibly interrupt the party’s participation in the governorship election.

Also the Deputy National Chairman of the party, Dr. Ayo Olurunfemi in video shared by Mr Ifoh insisted that no form of intimidation from the highest quarters can stop the party from concluding the process leading to the emergence of the Labour Party government in the state.

Two members of the national working committee (NWC) of the party had earlier confirmed the development to Daily Trust in Abuja.

The two pleaded not to be named due to the sensitivity of the development and uncertainty of his arrest.


It was reported that Abure was arrested on allegations of premeditated attempted murder, among other alleged infractions.

The arrest followed a petition by a former LP Youth Leader, Comrade Eragbe Anselm Aphimia, who was expelled in the wake of crisis rocking the party in 2023.

The petition, addressed to the Commissioner of Police, Edo State Command, dated February 13, partly reads, “I, Comrade Eragbe Anselm, write to you with utmost urgency and grave concern regarding a heinous act of violence perpetrated against me on the 29th of December 2023.

“I am a member and National Youth Leader of the Labour Party (LP) in Nigeria, and the events I am about to recount are of utmost importance for justice and the safety of individuals involved in political activities.

“On December 28, 2023, I flew into Benin City Airport around 2 p.m. as part of an official 5-member delegation authorised by the Acting National Chairman of the Labour Party, Alhaji Lamidi Basiru Apapa.

“Our mission was to organise Ward, LGA, and State Congresses in Edo State, as well as supervise the sale of nomination forms for various posts, as mandated by INEC guidelines, within the stipulated time frames.


“On arrival at the Benin Airport, I was received by one Mrs Mary Okheime Newberry, who falsely claimed to be providing transportation and accommodation on behalf of unnamed “stakeholders.”

“She proceeded to lodge us at the Smart Homes Hotel, unknown to us that she was plotting a sinister and gruesome ambush. The next morning, a man named Austin Emeka came to pick me and my colleague, Mr Patrick Anethua, up from the hotel lobby, pretending to take us to a meeting venue.

“Instead, we were violently attacked just outside the hotel gates by a waiting mob.”

rRecall that the development is coming on the heels of the suspended embattled national treasurer of the party, Mrs Oluchi Oparah, who accused Abure of mismanaging the funds belonging to the party and asked him to account for the alleged missing N3.5bn realized from the sales of nomination forms for the 2023 general elections.

While Abure denied the allegations, saying the party also made N1.3bn, the NWC of the party, however slammed a six-month suspension on Oparah, for false allegation and failure to appear before a committee to address her allegations and grievances.

This was also followed by the Presidential candidate and National Leader of the party, Mr Peter Obi, asking for an investigation of the party’s finances and records by a reputable audit firm.

Also, on Tuesday, the 36 state chairmen and FCT of the party during a meeting in Abuja rejected the financial fraud allegations against Abure.


The Abia State Chairman and Chairman Council of State Chairmen of LP, Mr Ceekay Igara, led the meeting that also passed a vote of confidence on him and the party’s national leader and presidential candidate, Mr Peter Obi.

Senator Ned Nwoko has urged the administration of President Bola Tinubu to immediately abolish the use of the American dollar and all other foreign currencies in Nigeria, as a means of tackling the current economic hardship faced by Nigerians.

The Senator representing Delta North Senatorial District at the National Assembly, who gave the charge while speaking with THISDAY, on the state of the nation, warned that until the naira was made the only legal tender in Nigeria, nothing much would be achieved from the country’s monetary policy.


While lamenting that Nigeria gained independence over 60 years ago and remain dependent economically on the West, Nwoko, also called for the return of Nigeria’s foreign reserve to the country; to be kept by the Central Bank of Nigeria (CBN) and disbursed to manufacturers to boost production.


“We keep talking about monetary policy, nothing is going to work until we stop using the dollar”, he said while pointing out that the biggest problem confronting Nigeria was the use of the dollar and other foreign currencies within the country.

“The president have to stand up and lead, he should not worry about the US and UK”, he said, “we should strive towards economic independence” to move the country forward and meet the aspiration of the people.

The legislator argued that when the use of foreign currencies was prohibited and payments for crude oil are done in naira, there would be demand for naira and its value would appreciate.

He described as an anomaly and insulting for Nigeria to keep her money in a foreign bank which in turn was being used for the development of that country and not in the interest of Nigeria.

Nwoko stated that if what the country have as foreign reserved was brought back to Nigeria, it would help resuscitate many dead and ailing industries as the central bank can then borrow to them at a very low rate of between three and four per cent.

“We just had a meeting with some European Union parliamentarians, I asked the one from Greece if they use the dollar, he said no, I also asked the one from Italy he said no. I asked them if they have foreign reserve, none of them have foreign reserve.

“So why should we?, he queried.

Other measures he urged President Bola Tinubu to deploy include the pegging of interest rate so as to make funds available for local businesses and the prohibition of medical tourism which puts another strain on the nation.

On the worsening insecurity in the country, Nwoko, who dismissed the capacity of the police to protect citizens called for the amendment of the firearm law, which he is currently pushing at the Senate.

He said part of the economic hardship was due to the fact that people could no longer go to the farm again because of the activities of herdsmen, bandits and kidnappers.

“Farmers in Delta State are not able to farm because their crops are being destroyed every day…..why can’t our people be armed to defend themselves as it is done in some other countries”.

He dismissed claims that Nigerians would kill themselves if allowed to carry arms, arguing that, “we are matured not to use knives against one another, then why are we not matured to use guns.”

He suggested a system where a citizen would be licenced to carry arms from his place of origin.

“The certificate would be done by traditional rulers through chiefs who have knowledge of the respective families in their domain. These rulers know family with criminal records as well as mental issues”, he said, adding that the kings would be held responsible if anything goes wrong.

In addition, he said before a licence would be issued, a person’s state of mind would also be assessed by two medical doctors and lastly that the Commissioner of Police and Director of Department of State Service DSS give their approval.


The Senator also called for the permission of local vigilantes to carry sophisticated arms if they must be able to tackle crimes in their communities.

The International Monetary Fund (IMF) has warned that the exchange rate of the Naira may further depreciate by about 35 percent this year, adding that this could lead to inflation rate peaking at 44 per cent before the monetary policy tightening could bring the situation under control.

IMF disclosed this in its February 2024 Post–Financing Assessment and Staff Report, noting that the nation’s monetary policy is currently insufficiently tightened to bring inflation below 20 per cent while pressures on the Naira persist.

The report noted that amid the absence of local production and the recent liberalisation of commodity imports, the exchange rate would likely depreciate further.


IMF said Nigeria had been hit by another adverse climate shock in early 2024, following severe flooding in late 2022, which exacerbated the current weakness in agriculture and led to a decline in output and a surge in food prices.

According to the Bretton Woods institution, the country would benefit from developing a comprehensive macroeconomic and growth strategy, in collaboration and with support from development partners.

This, it said, would include aggressive monetary tightening, fiscal adjustment to restore macroeconomic stability, and putting in place climate adaptation measures.

It stressed that domestic demand had weakened due to the steep fall in real incomes – as investments in the oil sector would likely stall due to rising costs, and production declines.

The fund further predicted that the country’s growth could fall to zero in 2024 and only slowly recover to two percent in 2028.

IMF said the uncertainty over Nigeria’s net international reserves level poses additional risks, as would exogenous further shocks that impact external stability, poverty, and food insecurity.

The publication further stated that the fiscal deficit could increase above six percent of GDP in 2024 and 2025, driven in part by increased transfers to quell social unrest (one per cent of GDP) and a rise in the implicit fuel subsidy.

“With limited external financing options and higher expenditures, there is increasing use of CBN and domestic financing. The authorities implement expenditure measures in 2026, for example, phasing out the implicit fuel subsidy but the debt to GDP ratio still rises by six percentage points above the baseline by 2028.

The report stated: “The spike in inflation and rise in uncertainty trigger portfolio outflows, and Nigeria is unable to access Eurobond financing. Reserves decline to $17 billion in 2025. Obligations due under the RFI peak at over eight per cent of officially reported reserves.

“Nigeria would be able to repay the fund, even in the downside scenario. This assumes that the authorities continue to prioritise external debt service. However, debt service would compete directly with urgent humanitarian needs to tackle rising poverty and food insecurity that would need to be prioritised.

“Therefore, even assuming the authorities reserve the remaining SDR allocation for RFI repayments, trade-offs could be severe.


“The uncertainty over Nigeria’s net international reserves level poses additional risks, as would exogenous further shocks that impact external stability, poverty, and food insecurity.”

ECOWAS should lift suspension on Niger, Mali, B/Faso

 

The Federal Government is trying it’s best to deal with the various problems and it should be given time for it’s efforts to manifest, former Head of State, General Yakubu Gowon said yesterday.

Gowon, Nigeria’s war-time leader, who was head of state between 1966 and 1975, spoke at Aso Villa, Abuja after meeting with President Bola Ahmed Tinubu.


It was the first visit of the 89-year-old elder statesman to the seat of power since May 29 last year when President Tinubu assumed office.

Speaking to reporters, Gowon, who led the country during the 1967 to January 1970 civil war, also urged the Economic Community of West African States (ECOWAS) to lift the sanction imposed on Mali, Burkina Faso and Niger Republic, following military takeover of power, in the interest of peace.

Gowon is one of the founding fathers of ECOWAS in 1975.

The former head of state told reporters: “I was telling him (Tinubu) that there’s no Nigerian leader that will not get all of these (criticisms), all that is being said about him.

“Certainly, there is no doubt about all one has heard and seen from the media.


“I think the government is trying it’s best to deal with the various problems.


“All one can say to Nigerians is that they have to give the President time to get things done.

“It is too early to say the perfect result will be achieved. That is my opinion.

“At least, if I remember, I was told that I was too slow fighting the war, that probably Nigeria would not make it and that we should seek for discussion.

“Well, did we do it or not? They probably did not know the problems on the ground then”.

The former military leader called for peace in the sub-region, saying, “Being the surviving leader among the founding fathers of ECOWAS, I think we had to discuss some of his (Tinubu) plans to see what can be done to bring the matter under control.”


Gen. Gowon pleaded in a letter to ECOWAS Commission President Dr. Omar Alieu Touray for dialogue.

The letter reads: “I have noted with deep concern and sadness, the past and recent developments unfolding in the West African sub-region, particularly the pronouncement by Burkina Faso, Mali and Niger of their intention to exit from ECOWAS.

“As one of the founders of our regional economic community, it is incumbent upon me to speak on behalf of the 14 Heads of State and Government who joined me in Lagos, on 27th May 1975, to establish ECOWAS.

“Since its inception, the regional bloc has made a number of major accomplishments, including trade liberalisation, the right of West Africans to live legitimately in any country within the Community, as well as successful peacekeeping operations in Liberia and Sierra Leone.

“ECOWAS, despite its shortcomings, has become an example of regional integration for the wider continent.

“Having achieved all of the above, it saddens me to learn that ECOWAS is threatened with disunity following the announcement by Burkina Faso, Mali and Niger, three important member states, of their intention to leave the Community.

“The impact of such a decision will have far-reaching implications for the ordinary citizens who have been the major beneficiaries of regional integration.

“Therefore, on behalf of all the founding fathers of the Community and myself, I urge the ECOWAS Authority of Heads of State and Government, including the leaders of Burkina Faso, Mali and Niger, to put aside their differences and reunite for the peace, stability and prosperity of our sub-region.

“I call on all West African leaders to immediately consider the implementation of the following: lifting of all sanctions that have been imposed on Burkina Faso, Guinea, Mali and Niger;

“Withdrawal by Burkina Faso, Mali and Niger of their notices to leave ECOWAS; and participation of all 15 ECOWAS Heads of State in a Summit to discuss the future of the community, regional security and stability, as well as the role of the international community given the current geopolitical context;

“I wish to once more reiterate to regional leaders that ECOWAS is more than a coalition of states.

“It is a community established for the good of our people based on shared history, culture and tradition.

“Neither my generation nor present or future generations will understand or forgive the breakup of our Community.”

 

The Economic and Financial Crimes Commission will arraign the immediate-past governor of Kwara State, Abdulfattah Ahmed, for alleged N10bn fraud on Friday, The PUNCH has learnt.

Credible sources in the anti-graft agency said the ex-governor would be dragged before the Federal High Court in Ilorin, the Kwara State capital.

“He is going to be arraigned on Friday at the Federal High Court in Ilorin for diversion of funds, amounting to N10bn,” the source told our correspondent.

The ex-governor has been detained by the EFCC since Monday when he honoured an invitation for interrogation.

AFCON 2023: Super Eagles Ends Continental Cup Campaign With Silver Ware0:00 / 0:00

His Chief Press Secretary, Alhaji AbdulWahab Oba, confirmed his principal’s visit to the EFCC office on Monday, stating that it was only “procedural and routine”.

“Dr Ahmed’s visit to the EFCC is procedural and routine. He was invited and he honoured them as he’s always done. He’s always ready to respond to any query or question regarding his tenure as a governor of the state.”

On Tuesday night, Oba lamented that the EFCC was still holding on to Ahmed, saying he was given stringent bail conditions.


“Yes, he is still with the EFCC and we are now in a dilemma over the issue because they keep changing the goalpost during the match. The case is taking a new dimension, which we don’t really understand for now.

“Initially they said they wanted him to produce two sureties who are federal directors. The sureties came and were asked to provide landed properties in Abuja. We see this as a contradiction. The case was initially handled by the EFCC office in Abuja before it was transferred to Ilorin over the issue of jurisdiction. Additionally, he has been denied access to his doctors, medication and direct access to his cook,” Oba said.

Meanwhile, members of the opposition Peoples Democratic Party in Kwara State on Wednesday staged a peaceful protest to the EFCC zonal office in Ilorin, where Ahmed was being detained.

The protesters, who carried placards with various inscriptions, expressed displeasure over Ahmed’s detention.

Led by the state Publicity Secretary of the PDP, Olusegun Adewara, the party members alleged that the All Progressives Congress in the state was behind Ahmed’s troubles.

Some of the inscriptions on their placards read: “EFCC should stop being a tool in the hands of Abdulrazaq led-APC”, “Governor Ahmed was very transparent”, “EFCC is not a department in the APC, EFCC, stop the harassment”, “The opposition cannot be silenced”, “Maigida will not join the APC no matter the persecution”, “EFCC, don’t instigate political crisis in Kwara State”, “No to illegal detention. Respect the rule of law”, among others.

But addressing the protesters, the zonal commander of the EFCC, Michael Nzekwe, said Ahmed had been given an administration bail but he could not meet the conditions.


“We’re wrapping up. Once we wrap up, the law will take its course. The anti-graft agency, being a creation of law, would not go contrary to law.

“Everything we’ve done is within the ambit of the law. The former governor is cooperating with us and we’re making good progress following rules of law. As I speak, he’s with his lawyer, a SAN; he attends to everyone who comes to see him, and he has a doctor who has attended to him. He eats what he wants to eat. I urge us to allow the law take its course. We’re not partisan nor prompted by anybody. This body is solely sponsored by the Federal Government,” Nzekwe said.

Bayo Onanuga, special adviser to President Bola Tinubu on information and strategy, says Binance and other crypto platforms should be banned from operating in Nigeria.

In an X post on Wednesday, he also said foreign exchange (FX) aggregator, abokiFX, should be banned again.

Onanuga made the statement while reacting to a comment by Mikael C. Bernard, an X user, who shared posts on cryptocurrency and FX rates.

The presidential aide said Bernard stated in an X post that “Naira is going to zero”.

Onanuga’s statement is coming amid the continuous depreciation of the naira, which fell to N1,900/$ at the parallel section of the FX market on February 20, 2024.

The naira declined by 9.83 percent from N1,730/$ recorded on February 19.

In his post, the special adviser said Binance is “blatantly setting exchange rate for Nigeria,” and hijacking the role of the Central Bank of Nigeria (CBN).

He said the cryptocurrency trading platform is facing restrictions in multiple jurisdictions, such as the United States, Singapore, Canada and the United Kingdom.

“According to Data Wallet, Binance is prohibited in the United Kingdom by the Financial Conduct Authority from conducting any regulated activities. In Japan, the Financial Services Agency (FSA) banned Binance for operating without the necessary regulatory approval,” the presidential aide said.

“Ontario, Canada, has also suspended Binance services following its inability to meet the province’s securities regulation criteria. The Monetary Authority of Singapore also banned Singaporean investors from accessing Binance’s services.

“Binance, facing regulatory showdown in many countries, and causing disruptions in the currency market, should not be allowed to dictate the value of the Naira, not on its crypto exchange platform.

“Other crypto platforms such as Kucoin, Bybit should be banned from operating in our cyberspace. FX platform Aboki should be re-banned.”

Onanuga called on the Economic and Financial Crimes Commission (EFCC) and the CBN to move against the platforms, adding that the firms are trying to “manipulate our national currency to ground zero”.

He also said crypto should be banned in the country “or else this bleeding of our currency will continue unabated”.

Onanuga’s call for a ban on cryptocurrency trading platforms followed the directive of the CBN on February 5, 2021, to banks, non-bank financial institutions (NBFIs), and other financial institutions (OFIs), to close accounts of persons or entities involved in crypto transactions.

The regulator also warned local financial institutions against dealing in crypto assets or facilitating payments for crypto exchanges.

CBN cited concerns over money laundering, terrorism financing, cybercrime, and the volatility of cryptocurrencies as reasons for the ban.

In a report on April 7, 2022, CBN fined six banks N1.31 billion for flouting the directive on crypto accounts.

However, on December 22, 2023, CBN lifted the ban on cryptocurrency transactions and issued operational guidelines on virtual assets service providers (VASPs) to all banks and other financial institutions (OFIs).

Also, on September 17, 2021, Godwin Emefiele, former CBN governor, said the financial regulator was investigating abokiFX, a forex rates tracker, and Oniwinde Adedotun, the founder.

Emefiele alleged that Oniwinde uses his website for forex manipulations and speculations by purchasing forex to make a profit.

CBN, however, on July 25 2023, asked banks to vacate a post-no-debit restriction placed on AbokiFX account.