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Nigeria lost of its brightest minds in the banking and financial sector on Friday when the Group Chief Executive Officer of Access Holdings died in a helicopter crash in California United States.
Wigwe was in a chopper with his wife, son and three other passengers, including former Nigeria Stock Exchange chairman, Abimbola Ogunbanjo, when the incident happened.
They were reportedly heading for Las Vegas to watch the Super Bowl, the annual league championship game of the National Football League (NFL) of the United States.
Patrick Yakowa
The former Governor of Kaduna State, Patrick Yakowa, died in a naval helicopter that crashed and burst into flames in the forest of Okoroba, Nembe Local Government Area of Bayelsa State, shortly after take-off. Yakowa was a Nigerian politician who served as governor of Kaduna State from 2010 to 2012.
Sultan Muhammadu Maccido Abubakar III
The 19th Sultan of Sokoto, Muhammadu Maccido Abubakar III, also died in a plane crash on ADC Airlines Flight 53 on October 29, 2006, while returning to Sokoto after meeting with President Olusegun Obasanjo. Maccido died along with his son, Badamasi Maccido and both were buried in Sokoto.
Lt. Gen. Ibrahim Attahiru
Chief of Army Staff, Lt. Gen Ibrahim Attahiru, lost his life in the ill-fated aircraft that killed 11 military officers on board, on May 21, 2021.
The aircraft crashed near Kaduna International Airport while the military officers were on their way to the passing out parade of regular recruits slated for the next day.
General Andrew Owoye Azazi
Former National Security Adviser (NSA), General Andrew Owoye Azazi, who served under former President Goodluck Jonathan, also died in a crash alongside the late Governor Yakowa in December 2012. He was Chief of Defence Staff (CDS) of Nigeria, and Chief of Army Staff (COAS).
[DailyTrust]
The Registrar General of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, disclosed on Tuesday, February 13, that social media content creators, Instagram users with larger followers, and TikTok users will soon be forced to register as businesses so they can start paying taxes to the government.
The RG disclosed this during a visit by the managing director, Opay, Dauda Gotring, and his team in Abuja, stating that the social media and content creators are generating a lot of money without paying any form of tax to the federal government.
He said: “This cannot go on, these groups of people are under mandate to register as a business considering the amount they make from the content creation, the government is all out to ensure every business in Nigeria no matter what or how is registered with the CAC.
“The commission is registering another batch of three hundred thousand business names from Opay. The visit from the Opay team is to ensure the regularisation of these business names in CAC. This will expand the tax net, encourage businesses, and create more jobs for Nigerians.
He noted that the idea behind Opay operations is to ensure every Nigeria uses a bank, even in the rural areas.
Opay is ready to partner with CAC to ensure these groups of people have their businesses registered, with their consent though.
Gotring said the Opay organization is working to ensure that all companies no matter how little, as long as you operate as a business you should be registered with the CAC.
He added that since Opay handles “these accounts they are working on sensitizing the owners of the accounts so they can be registered with CAC.”
[TheNation]
President Bola Tinubu, on Tuesday, rewarded the Super Eagles of Nigeria with a national award (Member of the Order of the Niger, MON) flats in the Federal Capital Territory, FCT, and piece of land.
President Tinubu made the pronouncement when he received the players and officials of the Nigeria Football Federation (NFF) at the Council Chamber, Presidential Villa, Abuja.
The delegation is led by the Minister of Sports Development, Senator John Owan Enoh.
The Super Eagles finished as runners-up in the just concluded Africa Cup of Nations (AFCON), hosted by Côte d’Ivoire.
All the team members, clad in green attire, and officials were in attendance, including Alex Iwobi, who had faced cyber attacks following Nigeria’s loss to Cote d’Ivoire at the final of the just concluded African Cup of Nations.
In a statement issued by his Special Adviser on Media and Publicity, Ajuri Ngelale, President Tinubu commended the team, the coach, the crew, and the entire management team for their hard work, assiduity, and sacrifice to come this far in the tournament, acknowledging the hurdles they consistently surpassed with steadily improving performance as they pulled through to the finals.
The President had urged Nigerians to be of good cheer, emphasising that we won a great victory in the hearts of Africa and the world with our grit, rigour, and determination in the field of play.
“Let this passing event not dispirit us but bring us together to work harder. We are a great nation bound as one by the green-white-green banner of resilience, joy, hope, duty, and untiring love.
“To those cherished Nigerian youths expressing their gifts in communities, drawing lines in the sand as they play football in their humble rectangles of play, you can be our heroes tomorrow, do not relent in your pursuit. My administration is here to make dreams come true,” the president said.
Gentlemen of the Press and fellow citizens of the Federal Republic of Nigeria,
We, the Concerned Igbo Eze North Youths (CINY), a sociocultural non-profit Organization from Igbo Eze North LGA, Enugu State, rise in staunch defense of Nigeria's Chief of Naval Staff (CNS), Vice Admiral Emmanuel Ikechukwu Ogalla. Since his appointment in June 2023, Vice Admiral Ogalla has dedicated his life and personal integrity to sanitizing Nigeria's maritime space and eradicating oil theft and racketeering.
We commend Vice Admiral Ogalla for conducting himself with utmost professionalism and decorum in office. His efforts in plugging the leakages that facilitate the secret transportation of stolen crude oil through the high seas have been commendable, effectively challenging those who seek to exploit Nigeria and shortchange its people.
We wish to educate those who don't know our son and brother — Ogalla in person, that he was born on December 20, 1968, and his sterling military career took off when he enlisted in the Nigerian Defence Academy as part of the 39 Regular Combatant Course on September 16, 1987, and was commissioned into the Nigerian Navy as Sub-Lieutenant on September 19, 1992.
He graduated with a Bachelor of Science in Mathematics and received the Sword of Honour as the Best Graduating Naval Cadet, recognized for his academic excellence, military training, leadership qualities, and character.
He has attended various courses within and outside the country, including the Basic Hydrographic Course at the National Hydrographic School in Goa, India, and the Junior and Senior Staff Courses at Armed Forces Command and Staff College, Jaji. He also completed the Higher Strategic Course at the National Defence College, Abuja, and holds a Master of Science in Strategic Studies from the University of Ibadan.
His appointment in the present administration was ad rem, having held several significant appointments, such as Watch Keeping Duties on board NNS AGU, Instructor, Chief Instructor, and Commandant at the Nigerian Navy Hydrographic School. He also served as the Base Operations Officer at NNS PATHFINDER, where he played a vital role in combating oil theft and other economic crimes.
His appointment as CNS marked a crucial juncture in the nation's naval history. His dedication, competence, and impeccable record have already brought about significant changes beneficial to national security and the fight against maritime criminality. It is imperative that we recognize and reject the baseless accusations aimed at discrediting him. As a nation, we must stand firm against those seeking to undermine progress and accountability, allowing Vice Admiral Ogalla to continue his transformative work.
However, we are deeply troubled by the actions of certain miscreants who, masquerading as angels of light, spread falsehoods against Vice Admiral Ogalla. These malicious individuals frivolously accuse him of indirect involvement in oil bunkering. It is evident that these baseless allegations stem from the narrow-mindedness of tribal bigots who cannot bear the fact that President Tinubu, displaying commendable detribalization, appointed an Enugu Ezike-born Igbo Eze North LGA soldier of high repute to such a prestigious position aiming to combat the myriad of maritime crimes plaguing our nation.
As Concerned Igbo Eze North Youths, we firmly denounce this political persecution aimed at a man of unwavering integrity. We refuse to stand idly by, as Vice Admiral Ogalla's reputation is tarnished unjustly.
We issue a stern warning to these profiteers who have launched an unwarranted attack on our son, urging them to desist from their malicious actions.
Furthermore, we respectfully implore President Tinubu to protect Ogalla and his relentless efforts in dealing with illegal oil bunkerers. We call upon our nation's leadership to stand firmly against those who seek to undermine the achievements of this patriotic Nigerian and our collective struggle to sanitize Nigeria's maritime space.
In conclusion, we call upon all well-meaning Nigerians to rally behind Vice Admiral Ogalla and support the ongoing efforts to secure our nation's interests. Let us unite in holding accountable those who seek to exploit our resources for personal gains. Together, we can ensure justice prevails and our maritime space becomes a beacon of security and integrity.
Signed:
Comrade Eze Kelvin Chijioke
President General,
Concerned Igbo Eze North Youths (CINY)
Comrade Asoanya Witness Ikemefuna
Secretary General,
Concerned Igbo Eze North Youths (CINY)
Given at Ogrute Enugu Ezike, Enugu State, this Tuesday, 13th day of February 2023.
Naira plunged to a record low on Monday after exchanging at N1,534.39 to a dollar at the official market segment.
According to data published on the FMDQ website, the local currency moved to an intraday high of N1000/$1 and a low of N1,550 to a dollar before it eventually settled at N1,534.39 at the close of business on Monday.
The rate implies a 4.38 per cent depreciation from the previous market sales on Friday last week.
On Monday, forex turnover at the authorised market stood at $89.61 million amidst increased demand and inflationary pressure across sectors of the country’s economy.
However, the dollar was exchanged at N1,489/$1 and above across parallel markets in the country as against N1,488 recorded in the previous session last Friday.
Based on this, it is the first time in months the naira will trade at a significantly lower rate at the official market than that of the unofficial market.
Financial experts suggest this could affect the rate at which individuals source dollars from the black market since they can get a better rate at the official window.
In a recent analysis of the naira following its continuous depreciation, Bismarck Rewane, Financial Derivative Executive Director, explained that the naira is depreciating due to low forex supply, and loss of confidence as a store of value.
The financial expert listed other factors causing the fall of the domestic currency including increased naira speculation and fear, restrictions and exchange rate control, as well as negative real interest rates.
The International Monetary Fund (IMF) has advised the Nigerian government to completely phase out costly fuel and electricity subsidies that are inefficient in reaching the most vulnerable.
“Fuel and electricity subsidies are costly, do not reach those that most need government support and should be phased out completely,” IMF said in a report.
This recommendation comes in a new report titled “IMF Executive Board Concludes Post-Financing Assessment with Nigeria,” published on Friday, February 9.
The IMF commended President Bola Tinubu’s administration for tackling structural issues by removing fuel subsidies and unifying exchange rates.
“The new administration has made a strong start, tackling deep-rooted structural issues in challenging circumstances. Immediately, it adopted two policy reforms that its predecessors had shied away from: fuel subsidy removal and the unification of the official exchange rates.
[NationalDaily]
As the nation mourns the loss of Group Chief Executive Officer of Access Holdings PLC and philanthropist, Herbert Wigwe, who passed on in a tragic helicopter crash alongside his wife and son, Isiokpo, his hometown in the Ikwerrre Local Government Area of Rivers State, has declared seven days of mourning in honour of their illustrious son.
The declaration was made by the Nye-Nwe-Eli of Isiokpo, His Royal Majesty, Eze Blessing Ahiazunwo Wagor.
Starting Wednesday, the seven days of mourning will witness the closure of all businesses on the first and last day, with half-day operations on the other days.
[NaijaTimes]
The United Kingdom will today enter into new economic and trade partnerships with Nigeria to facilitate new opportunities in sectors such as energy, legal and financial services.
The British Business and Trade Secretary, Kemi Badenoch together with her Nigerian counterpart Doris Uzoka Anitie- the Minister for Trade and Investment will put pen to paper in the first of its kind “Enhanced Trade and Investment Partnership (ETIP)” trade partnership with an African country.
This is according to a statement by the UK’s Department of Business and Trade detailing the activities of the visit of Business and Trade Secretary, Kemi Badenoch to Nigeria.
UK Lawyers to practise in Nigeria
According to the statement, the new trade partnership aims to eliminate barriers in the legal services and film industry by allowing UK lawyers to practise international law in Nigeria and foster collaboration between the film and media industry in both countries.
- It stated, “It will see Nigeria commit to working towards removing barriers preventing UK lawyers from practising international and foreign law in Nigeria, a step that could significantly increase UK legal services exports. It will also pave the way for further collaboration in the film and media industry and encourage world-leading UK education providers to offer high-quality education in Nigeria.”
Total trade between the UK and Nigeria totalled £7 billion ($8.8 billion) in the year to September 2023.
What the trade Ministers of both countries say
Speaking on the agreement, Ms. Kemi Badenoch noted that the ETIP will unlock future opportunities for both countries and enhance trade relations with one of the biggest and fastest growing economies of the world.
On her part, Nigeria’s trade Dr. Doris Uzoka-Anitie stated that the new partnership will move relations between both countries from mere historic ties to economic progress by opening market access for trade.
- She said, “This partnership will see Nigeria-UK relations move beyond one of shared history and strong ties to one of shared economic prosperity. From increasing market access and supporting our vibrant businesses to creating more jobs and accelerating greater investments in sectors of mutual interests.”
Visit to Finance Minister and CBN Governor
During her visit to Nigeria, Ms. Badenoch will tour the location of a new Charterhouse school, marking the first UK independent school in West Africa.
Additionally, she will engage in discussions with the Governor of the Central Bank of Nigeria and the Nigerian Finance Minister to address trade barriers hindering UK businesses.
[Nairmetrics]
Rising Food Cost: Barau Urges Govs To Release Grains, To Distribute Rice To 200,000 Households
AdminThe Deputy Senate President, Barau Jibrin, has urged state governors to release grains to the people to cushion the effects of the rising cost of foodstuffs.
Barau hailed President Bola Ahmed Tinubu for ordering the release of 102,000 tons of rice, maize, millet and others to address the high cost of commodities.
The federal government had through the Special Presidential Committee on Emergency Food Intervention, headed by the Chief of Staff, Rt. Hon Femi Gbajabiamila, on Thursday, ordered the release of 102,000 tons of grains to Nigerians.
The Deputy Senate President, in a statement by his media aide, Ismail Mudashir, said the move would go a long way in cushioning the effects of the rising cost of commodities in the country.
He urged states and local governments to emulate the federal government by releasing grains to the needy in the country.
Barau said in the coming days, he would distribute rice to 200,000 households as part of his contribution to address the challenge.
“At this trying period, we should all support the federal government to address the challenges our country is facing. As we all know the rising cost of food is a global phenomenon and our country is not unaffected by it.
“I, therefore, implore states and local governments to distribute food items to those in need across the country to cushion the effects of the rise in the cost of food items,” he urged.
[DailyTrust]
A deputy director in the Central Bank of Nigeria (CBN), Michael Onyeka Ogbu, has explained why the apex bank released $6,230,000 as payment to some international election observers prior to last year’s general election.
Ogbu, who is currently a Deputy Director and Head of the Service Delivery Division at the CBN, said the funds were released because the request documents contained evidence of approvals by the then President Muhammadu Buhari and erstwhile CBN Governor Godwin Emefiele.
The deputy director said this while testifying yesterday as a prosecution witness in the trial of the former CBN governor.
Emefiele is facing a 20-count amended charge filed by the Office of the Attorney General of the Federation (AGF) in which he is, among others, accused of engaging in criminal breach of trust, forgery, conspiracy to obtain by false pretence and obtaining money by false pretence.
He is, in the amended charge, accused of forging a document, titled: Re: Presidential Directive on Foreign Election Observer Missions, dated: January 26, 2023 with reference number SGF.43/L.01/201 and purported same to have emanated from the Office of the Secretary to the Government of the Federation (OSGF) to the governor of the CBN.
Emefiele is alleged to have, on February 8, 2023, knowingly obtained by false pretence $6,230,000.00 by falsely representing that the SGF vide a letter, dated: January 26, 2023, with reference number SGF 43/L.01/201 requested the CBN to provide a contingent logistic advance in the sum of $6,230,000 “in line with Mr. President’s directive”.
Ogbu, who was led in evidence by Rotimi Oyedepo (SAN), said he served as the Branch Controller until he was redeployed last September.
He recalled that on February 8, last year, there was a request for payment addressed to the Branch Controller.
Ogbu said after going through the documents and was satisfied, he minuted on it to the Head of Business Services Unit for processing and payment.
On whether the money was eventually released, the witness said: “Payment was eventually made. The $6,230,000 was paid on September 8, 2023. The payment was in cash.”
At that point, Oyedepo handed the witness a bundle of documents, which Ogbu identified as the documents he referred to.
Identifying each of the documents one at a time, the witness said the first page “is the payment slip, which was issued at the point of payment from my bank to the person nominated to receive the payment”.
He added: “The second page is the memo from the Banking Services Department authorising the branch to make the payment of $6,230,000.
“The third page is the request of the Director of Banking Services Department for approval of the Governor for the payment.”
The witness explained what pages four to six contained.
Ogbu told the court that the presidential approval was addressed to the then SGF, Mr. Boss Mustapha.
Oyedepo was about tendering the documents when he noticed that some of them were not properly certified.
The laywer prayed the court to be allowed to tender them as they were with a promise to replace them later with properly certified copies, a request the defence lawyer, Matthew Burkaa (SAN), rejected.
He also urged the court to grant him a stand-down of about 30 minutes to get the documents certified, which Burkaa also rejected.
Burkaa argued that it was impossible for the prosecution to have the documents certified within the 30 minutes Oyedepo requested for.
He urged the court to instead grant an adjournment to allow the prosecution sufficient time to put its house in order, an option the judge, Justice Hamza Muazu, felt comfortable with.
With the agreement of lawyers to parties in the case, Justice Muazu adjourned till February 13 for continuation of trial.
[TheNation]
More...
Access Holdings Plc on Monday announced the appointment of Ms. Bolaji Agbede as the Acting Group Chief Executive Officer.
This follows the death of its former Group Chief Executive Officer, Dr. Herbert Wigwe.
Wigwe died in a helicopter crash alongside his wife, son, and a former chairman of the Nigeria Exchange Group, Abimboloa Ogunbanjo on Friday
A statement made by the company’s Board of Directors and dated February 12, 2024, stated that the appointment was subject to the approval of the Central Bank of Nigeria
“Further to its announcement dated February 11, 2024, the Board of Directors of Access Holdings Plc (‘the Company’) has today announced the appointment of Ms Bolaji Agbede as the Acting Group Chief Executive Officer of the Company following the unfortunate demise of its former Group Chief Executive Officer, Dr Herbert Wigwe, on February 9, 2024.
“The appointment is subject to the approval of the Central Bank of Nigeria,” the statement read in part.
Agbede who joined Access Bank in 2003 as an Assistant General, has nearly three decades of professional experience cutting across banking and business consultancy services.
She served in different roles at the bank including, Head, Group Human Resources between 2010 and 2022 before she was appointed the company’s founding Executive Director, Business Support in 2022, a role she held until her new appointment
She holds a Bachelor’s Degree in Mathematics and Statistics from the University of Lagos and a Masters of Business Administration Degree from Cranfield University UK in 2002.
She is also a member of the Chartered Institute of Management UK and the Chartered Institute of Personnel Management of Nigeria.
[Punch]
Senator representing Edo North Senatorial District, Adams Oshiomhole, said Nigerians are still suffering from the impact of the policies of ex-President Muhammadu Buhari.
Oshiomhole stated this in an interview on Channels Television.
The former governor of Edo State said President Tinubu should not be held responsible for the right or wrong decisions taken by the previous administration.
Oshiomhole said he (President Tinubu) always places national interests above partisan interests.
He said, “My first loyalty is to Nigeria. At some point, before the last president left office, I lamented loudly what I saw as reckless policies that were designed to dehumanize the population that was already in pain.
“I felt that it is not what the then president promised. I dissociated myself from those policies and I’m happy that I was not the only one.
“There were governors who approached the court to denounce some of those policies. It is the long term consequences of those policies that we are still grappling with now.
“Yes, it is our party platform. Like Tinubu also said, he was not a minister or adviser. He never took a contract in that government and he cannot be held responsible for what the government did right or wrong,” he said.
A former Vice Chairman of the ruling All Progressives Congress, APC in the north-west, Salihu Lukman, has begged President Bola Tinubu to be responsive to the sufferings of Nigerians.
Lukman, who made this appeal in a statement, said Nigerians are becoming impoverished and can no longer afford basic medication.
The APC chieftain said he is heartbroken because the performance of Tinubu in the last 10 months betrays all the expectations “we had.”
“President Asiwaju Tinubu, APC leaders and Nigerian politicians can do better.
“How can anyone with the faintest of conscience live a normal life with a reality whereby the same citizens who elected them as leaders are impoverished by decisions we took as a ruling party?
“Is President Asiwaju Tinubu at all aware that the majority of our citizens, including relatively high-income earners cannot afford medication when they are sick?
“The belief of many of us, and indeed most Nigerians, is that President Asiwaju Tinubu is a responsive politician who will not recklessly take any decision without weighing its consequences on the lives of citizens.
“Being human, our expectation is that, if decisions are taken with grave consequences such as withdrawal of subsidy and floating the exchange rate, being the responsive leader he is.
“It is our expectation he will quickly review and recalibrate such decisions with the overall objective of protecting the welfare of citizens. That is what progressive politics is all about.
“May God Almighty touch the heart of President Asiwaju Tinubu and all APC leaders, and indeed all Nigerian politicians, to understand that millions of Nigerians are confronted with life threatening reality today.
“Just like we asked for the votes of citizens during elections, citizens are asking leaders, especially President Asiwaju Tinubu, to be responsive to today’s reality.”
Lukman added that it is difficult to predict where the country is headed under Tinubu.
A fresh crisis has hit the Labour Party as its National Treasurer, Mrs. Oluchi Oparah, has demanded that the National Chairman, Julius Abure render an account of party funds over N3.5bn being proceeds of sale of forms and sundry fundraisers for the 2023 general elections.
Oparah made the demand at a press conference in Abuja, on Monday.
According to the treasurer, the National Chairman has prevented her from exercising her constitutionally assigned role of handling the party’s accounts.
She equally alleged that the chairman has shunned all entireties to open the party’s books for scrutiny since the sale of expression of interest and nomination forms closed before the 2023 general elections.
Oparah said, “Good morning, ladies and gentlemen of the press. I stand before you today with a heavy heart and a sense of duty to the principles of transparency, accountability, and justice. With great reluctance and deep concern, I am compelled to publicly address the media regarding the egregious financial mismanagement and corruption that have plagued our beloved party under the leadership of Mr Julius Abure, the current National Chairman.
“As National Treasurer, I am constrained to come before you and the public today because the internal mechanisms of our party have failed woefully to bring Mr Abure to account for his brazen abuse of office and misappropriation of party funds.
“ His appetite for power has grown unchecked, and he has deliberately undermined my duties and authority as stipulated in the party’s constitution.”