The Lagos State chapter of the Labour Party (LP) has called for the resignation of the National Chairman of the party, Julius Abure, in order to uphold the party's integrity.

Rasheed Bamishe, the LP chairman in Lagos State, made the call at the party’s secretariat in Lagos on Saturday.

He urged the National Working Committee, members of the party Board of Trustees and other relevant stakeholders to prevent Abure from holding his proposed National Convention on March 27, 2024.

According to him, Abure should prioritize the party interest while a Caretaker National Chairman should be appointed to organize State Congresses before convening the National Convention.

“We urge Barrister Abure to leave the Party now because the litany of corrupt cases against him has done collateral damage to the image of the Labour Party.

“The Labour Party which was formed by the founding fathers to be a beckon of hope for millions of Nigerians is gradually being destroyed by Barrister Abure and this should not be allowed to continue,” he said.

Bamishe further stated that Abure was free to create his political party and manage its business but declared that the Labour Party, as a democratic organisation, cannot function as a one-man show.

He said that allegations of dishonesty, forgery, and fabrication of signatures have brought public shame and embarrassment to the Labour Party.

“Even if all these allegations are not true, the reasonable option open to the embattled Labour Party National Chairman is to step aside to pave the way for thorough investigations into the cases of alleged fraud against him.

“In a civilized clime, Barrister Abure should have exited office since the flurry of fraud cases against him became public knowledge but because of the culture of impunity in Nigeria, he is still clinging to power.

“Barrister Abure should tell the world where the National Convention of Labour Party in which he emerged as National Chairman was held.

“Barrister Abure is plotting to install himself again as the National Chairman of Labour Party through another illegal Convention and this should not be allowed to happen,” he stressed.

He emphasized the need for all stakeholders to unite to seek legitimate options including litigation to make sure Abure is removed from office to restore credibility, dignity, and integrity to the party.

As Naira continues to strengthen against foreign currencies, especially the United States Dollar (USD) at both parallel and official markets, the foreign exchange on cargo clearance at the nation’s seaports and international airports across the country has been reduced again.

LEADERSHIP reports that the Central Bank of Nigeria (CBN), on Saturday, slashed the foreign exchange rate on cargo clearance from N1,572.507/$1 to N1448.386/$1.

The slash represents 7.8% reduction or a difference of N124.121 between the new and the old rates.

It was gathered that the exchange rate between the Naira and the Dollar At the official market strengthened to N1,431/$ on Friday, March 22, 2024, closing the week on a positive note.

Data from the FMDQOTC, where the exchange rate is officially set, revealed that the official currency gained 1.52% at the close of business, continuing a rally that has now lasted seven days.

The Naira has now gained over 12% in one week, suggesting that the apex bank’s policies, implemented aggressively since February, were beginning to yield fruits.

On the parallel market where the exchange rate trades unofficially, traders still quoted between N1400-N1480/$1 depending on who is buying or selling.

To this end, importers that opened Form ‘M’ on Wednesday will pay less to clear their cargoes as import duties are benchmarked against the dollar.

Also, importers will open Form ‘M’ at a lower rate compared to those who opened Form ‘M’ on Friday, March 23, 2024, according to the central bank’s new directive to Nigeria Customs Service (NCS) to use the rate on the date of submitting Form ‘M’ for calculating import duties.

Nigeria’s total public debt stock more than doubled to N97.3 trillion as at 2023 over the level in the previous year.

Latest data from the Dent Management Office (DMO) showed that the country’s total debt stock increased by 118 per cent year-on-year from N46.25 trillion as at December 2022 to N97.3 per cent in December 2023.

The DMO said the N97.3 trillion debt stock comprises of the domestic and external debt stocks of the Federal Government of Nigeria (FGN), 36 state governments and the Federal Capital Territory (FCT).

However, the public debt stock increased by N9.43 trillion in the last quarter of 2023 over the comparative figure for September 2023, which was largely due to new domestic borrowing by the FGN to part finance the deficit in the 2024 Appropriation Act and disbursements by multilateral and bilateral lenders,” DMO said on Friday.

Also, the massive depreciation of the Naira has resulted in a surge in the value of the country’s external debt which are dollar denominated.

Of the total debt, domestic debt constitutes a significant majority, standing at N59.12 trillion, accounting for 61 per cent of the total public debt stock.

Meanwhile, external debt amounted to 38.22 trillion Naira, representing the remaining 39 per cent.

Nigeria’s external debt structure reflects a strategic tilt towards loans from multilateral and bilateral lenders, which collectively

Despite the escalating debt figures, DMO says it maintains a commitment to implementing best practices in public debt management.

Moreover, concerted efforts by fiscal authorities to bolster revenue generation are anticipated to bolster debt sustainability moving forward. for 63.79 percent of the external debt stock. The dominance of these loans, primarily concessional and semi-concessional, underscores the nation’s prudent debt management strategy.

Despite the escalating debt figures, DMO says it maintains a commitment to implementing best practices in public debt management.

The sum of $3.5 billion was used to service external debt during the review period.

“Consistent with the debt management strategy, Nigeria’s external debt stock was skewed in favour of loans from multilateral (49.77 per cent) and bilateral lenders (14.02 per cent) or a total of 63.79 per cent which are mostly concessional and semi-concessional.

“Whilst the DMO continues to employ best practices in public debt management, the recent and ongoing efforts of the fiscal authorities to shore up revenue will support debt sustainability.”
Despite the escalating debt figures, DMO says it maintains a commitment to implementing best practices in public debt management.
Moreover, concerted efforts by fiscal authorities to bolster revenue generation are anticipated to bolster debt sustainability moving forward.

In line with last Tuesday’s resolution of the Edo State House of Assembly, the Chief judge of the State, Justice Daniel Okungbowa has set up a seven-man panel to probe the petition against the Deputy Governor of the State, Philip Shaibu.

DAILY POST reports that the House of Assembly had on March 6, 2024, served a notice of impeachment on
the deputy governor, Philip Shaibu over alleged misconduct and perjury with seven days ultimatum to respond to the petition.

The House, due to alleged evasion by the deputy governor to be served the impeachment notice, ordered for a substituted means of service through the State-owned Observer Newspaper and the Vanguard Newspapers, respectively.

The notice was published on March 12, 2024.

The House in its plenary last Tuesday, March 19, 2024 passed a resolution directing the Chief Judge to set up a seven-man panel to probe the allegations levelled against the deputy governor.

DAILY POST reports that the Chief Judge complied on Friday.

A statement signed by the Chief Registrar of the State High Court, B.O. Osawaru, obtained by DAILY POST, named retired Justice
S.A. Omonua (Rtd), the chairman of the panel.

Three Professors from the University of Benin, UNIBEN, and Benson Idahosa University, BIU, are also members of the panel.

The professors are Violet Aigbokhaevbo, Faculty of Law, UNIBEN, Boniface Onomion Edegbai, Department of Plant Biology and Biotechnology, UNIBEN and Theresa Akpoghome, former Dean, Faculty of Law, BIU.

Other members are Surveyor Andrew Oliha, Oghogho Ayodele Oviasu and Idris Abdulkareen.

Part of the letter reads:

This is to bring to the notice of the general public that in line with Section 188(5) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), the Honourable Chief Judge of Edo State, Honourable Justice D.I. Okungbowa has constituted the PANEL OF SEVEN PERSONS to investigate the allegations contained in the impeachment notice against the Deputy Governor of Edo State, Rt. Honourable Philip Shaibu.

The said Panel of Seven Persons comprises the following
persons:

1. Hon. Justice S.A. Omonua (Rtd.) – chairman
2. Professor Violet Aigbokhaevbo
3. Professor Boniface Onomion Edegbai
4. Professor Theresa Akpoghome
5. Mr. Oghogho Ayodele Oviasu
6. Surv. Dr. Andrew Oliha
7. Mr. Idris Abdulkareen

Signed
B.0.Osawaru Esq.,
Chief Registrar.

Barcelona president, Joan Laporta, has insisted the club does not need “big signings” this summer.

Laporta was responding to questions during an interview with MD, where he was asked about Erling Haaland rumours.

He said: “We don’t need any big signing. There will be movements but I don’t anticipate big ones, just team players.

“Our priority is to trust the team we have right now, we don’t want to sign players who could distort our harmony.”

On Frenkie De Jong’s future, Laporta added: “Frenkie de Jong is super happy here. The last thing he wants is leaving Barcelona.

“He always told me that he loves to be at Barça and we’re delighted with Frenkie too.

“I’m not worried with his future, at all.”

The Federal High Court in Abuja, presided over by Justice Inyang Ekwo, has refused to grant an interim injunction restraining the Central Bank of Nigeria (CBN) from disbursing the N3.8 trillion naira deposited into the CBN NIPOST Stamp Duty Collection Account by Deposit Money Banks (DMBs) or commercial banks.

Kasmal International Services, represented by its legal team led by Dr. Alex Izinyon SAN, had approached the court claiming a percentage in the N3.8 trillion domiciled in the Stamp Duty Collection Account. The applicant joined the CBN and the Attorney-General of the Federation as respondents in the suit marked FHC/ABJ/CS/335/2024.

According to the applicant’s lawyer, Kasmal International Services was appointed by the Nigerian Postal Service (NIPOST) to represent them in the collection of a 50 naira stamp duty on all receipts given by banks or financial institutions for services rendered in respect of electronic transfers and teller deposits from N1,000 and above, in compliance with the Stamp Duties Act and the Nigeria Financial Regulations 2009. The agreement between NIPOST and the plaintiff included a remuneration of N7.50 from every 50-naira deduction.

The applicant argued that if the disbursement is done without considering its percentage, it will suffer irreparable losses. However, instead of granting the interim injunction, Justice Ekwo ordered the CBN to appear before the court and explain why the applicant’s request should not be granted.

At the resumed sitting on Friday, the court was informed that the CBN’s legal team had not yet shown cause as directed. Justice Ekwo then adjourned the matter to April 16 for hearing.

The stamp duty, an indirect tax imposed on several financial transactions, has been a subject of contention. In 2023, former CBN governor Godwin Emefiele revealed that the total revenue collected as stamp duty on behalf of the Federal Government between 2016 and 2022 was N370.686 billion.

The Defence Headquarters on Friday said it has declared 97 persons wanted for terrorism, violent extremism and secessionist threats against the state.

Prominent among the wanted persons is the factional leader of the proscribed Indigenous People of Biafra, IPOB, Simon Ekpa.

Major Gen Edwaed Buba, Director, Defence Media Operations, confirmed the names and pictures of the people declared wanted in Abuja on Friday night.

The wanted persons, terrorists/ bandits and insurgents commanders are from the North East, North West, North Central and South-East zones.

The military authorities did not place any bounty on the wanted persons.

A breakdown of the wanted persons shows that 43 were declared wanted in North West Zone plagued by banditry, and kidnapping among others.

Some bandits/terrorists leaders include: Alhaji Shingi; Malindi Yakubu; Boka ; Dogo Gide; Halilu Sububu; Ado Aliero ; Bello Turji; Dan Bokkolo; Labi Yadi ; Nagala; Saidu Idris; Kachalla Rugga and Sani Gurgu.

In the North East plagued by Boko Haram and Islamic State for West Africa Province terrorists, 33 persons were declared wanted.

Among them are terrorists commanders, Abu Zaida; Modu Sulum; Baba Data; Ahmad; Sani Teacher; Baa Sadiq; Abdul Saad; Kaka Abi; Mohammad Khalifa; Umar Tella; Abu Mutahid; Mallam Mohammad; Mallam Tahiru Baga; Uzaiya and Ali Ngule.

In the North Central and South East 21 Insurgents/militants and violent criminals were declared wanted.

They include factional IPOB leader Simon Ekpa; Chika Edoziem; Egede; Zuma, ThankGod Gentle; Flavour ; Mathew; David Ndubuisi ; High Chief Williams Agbor; Ebuka Nwaka; Friday Ojimka.

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Others in the South East include Obiemesi Chukwudi aka Dan Chuk ; David Ezekwem Chidiebube and Amobi Chinonso Okafor aka Temple .

Former Vice-President Atiku Abubakar has denounced the recent assault that resulted in the death of a village leader and additional residents of Rafi Local Government Area (LGA) of Niger State.

Daily Trust had reported how at least 21 people including the village head lost their lives on Thursday afternoon when bandits in their numbers reportedly invaded a market in Madaka, an agrarian community in Rafi LGA.

According to residents, the attackers raided the market around 3pm when the commercial activities were in full swing and started shooting at the crowd.

Among those killed was a butcher who recently got married. He had gone to the market to purchase some items needed for business when the bandits struck.

Reacting to the development, Abubakar, in a post via X on Friday, said Nigeria had become a “killing field” under President Bola Tinubu.

He called for the need to speed up the introduction of state police.

He wrote: “It is saddening that Nigeria has become a killing field. Thursday’s killing of scores of persons, including the village head and abduction of an unspecified number of people by suspected bandits in Madaka, in Rafi Local Government Area of Niger State, is yet another confirmation that contrary to assurances, insecurity continues to be rife in our country.

“We have to prioritise security and speed up the process of a constitutional amendment that will introduce State Police so that states and local authorities can deploy mechanisms that best suit their environment in tackling this hydra-headed insecurity in our land.

“My thoughts and prayers are with the families of the bereaved and the government and people of Niger State.”

The Indigenous People of Biafra, IPOB has issued a warning to the Federal Government about its leader, Nnamdi Kanu.

IPOB warned that Kanu must not die in custody of the Department of State Services, DSS.

IPOB warned that Kanu should be released because his death would be a trigger that would consume Nigeria.

Emma Powerful, the spokesman of IPOB, accused the Nigerian government of a planned systematic murder of Kanu using the instrumentality of the judiciary.

In a statement signed by Powerful, IPOB claimed that Kanu’s health has deteriorated inside the detention facilities, adding that the DSS has been using experimental drugs and practices for his serious health issues.

The statement reads: “The global family and movement of the Indigenous People of Biafra (IPOB), ably led by the confident and great leader, Mazi Nnamdi Kanu, is bringing to the notice of Biafrans, friends of Biafra, lovers of Biafra freedom, and the International Communities, that the Nigerian Government and her judiciary have planned a systematic murder of Mazi Nnamdi Kanu using the instrumentality of their fraudulent judicial system.

“Our leader, Mazi Nnamdi Kanu, was kidnapped and extra-ordinarily returned to Nigeria and detained for almost 3 years in DSS solitary confinement in Abuja.

“The DSS lacks proper medical facilities to take care of his falling heart conditions. The Appeal Court in Abuja has discharged and acquitted him, yet the lawless Nigerian government has decided not to free him by using the corrupt legal system in Nigeria. They have also decided not to give him access to appropriate medical care.

It seems like the murderous Nigerian government and her judiciary have decided to eliminate Mazi Nnamdi Kanu systematically by detaining him illegally until his heart and lungs give up.

“The IPOB family is informing the Nigerian government and its judiciary that IPOB will avenge anybody or group that has a hand in the persecution of Mazi Nnamdi Kanu if anything untoward happens to him. Mazi Nnamdi Kanu committed no crime. Instead, it was the lawless Nigerian government and her murderous security agencies that committed crimes against Mazi Nnamdi Kanu and IPOB.

“Igbo politicians must use this little opportunity they have wisely to ensure that the Nigerian government and Britain, who want to suffocate Mazi Nnamdi Kanu gradually inside DSS solitary confinement as he suffers a terminal heart and lung disease, do not do so.

“Irrespective of all the judicial abracadabra, the Nigerian government must ensure that our leader, Mazi Nnamdi Kanu, must not die in their hands nor die shortly after his release. Mazi Nnamdi Kanu’s life is a trigger that can consume Nigeria and the generations unborn.

“Those who intend to tag us terrorists and those who are friends of Nigeria must advise the Nigerian government to release Mazi Nnamdi Kanu healthy as the Appeal Court Justices declared. The same peaceful IPOB seen worldwide is capable of taking on Nigeria when the need arises. This is not a threat, but a promise.

“Mazi Nnamdi Kanu, during his last court appearance on March 19, 2024, complained about pains in his lungs and lumps under his arms and in his armpits. He also said that the Nigerian government wants to murder him gradually.

“The use of judicial abracadabra to detain Mazi Kanu while waiting for his health to degenerate to an incurable level will not be acceptable to IPOB and Biafrans. Mazi Kanu has beaten the Nigerian government in their Appeal Court, and we insist that he be released unconditionally without any more bodily harm.

“The International Community, United Nations, European Union (EU), African Union (AU), Amnesty International, Human Rights Watch, Intersociety, and all the reputable human rights activists and organisations across the globe must not blame IPOB should we take laws into our own hands when the time comes. When injustice becomes a law, resistance becomes a duty.”

Gov Abdullahi Sule of Nasarawa State has called for a probe into the stampede at Nasarawa State University, Keffi (NSUK), which led to the demise of two female students.

The incident occurred on Friday during the state government’s distribution of palliatives to students across the state, an initiative aimed at alleviating the economic challenges faced by students.

Reports from the scene indicated that the tragedy unfolded at the NSUK convocation square, the designated venue for the palliative distribution.

The overcrowding and ensuing chaos resulted in suffocation and the unfortunate demise of two students, with several others sustaining injuries of varying severity.

Governor Sule, in a statement conveyed by his Chief Press Secretary, Ibrahim Addra, expressed profound sorrow over the loss of lives.

“I pray their souls rest in peace. Our thoughts and condolences go to their families and friends at this moment of grief,” he said.

Describing the deaths as painful, Governor Sule emphasized the importance of uncovering the circumstances that led to this unfortunate event and ensuring such a tragedy does not recur.

The governor’s directive has prompted NSUK authorities and security agencies to initiate an immediate inquiry into the incident to identify the factors and individuals responsible for the stampede.

In solidarity and concern, the state deputy governor, Dr Emmanuel Akabe, visited the injured students to offer support and ascertain their recovery progress.

The palliative distribution initiative, praised for its intention to support students financially and nutritionally, had been successfully executed without incident in other educational institutions within the state, including the Federal University, Lafia, and the Isa Mustapha Agwai Polytechnic, Lafia, among others.