As the Dangote Refinery Commences Production, the National Patriotic Elders Forum has charged President Ahmad Bola Tinubu to in the spirit of amplifying the value of Naira sale Crude Oil to Dangote while in return he will also sell in Naira to Nigerians.

The Elders Forum who Commended President Tinubu for ensuring the commencement of Dangote Refinery Production, believes that if the Nigeria Government sells Crude to him in local Currency and in return, he sales to the Marketers in the same way, is just a matter of times Naira will regain it’s lost values.

Speaking through a release he issued to Newsmen, Thursday, in Kano, the National President of the Forum, Dr. Bature AbdulAziz, insisted that President Tinubu deserves commendation for making the Refinery become a reality, but he said, the Government needs to step up full cooperation with the Refinery helps Citizens.

“There should be a serious working cooperation and understanding between the Government and Dangote Refinery to one ensure that the prices of Petroleum when he fully Commences Production is reduced, secondly to curtail the hyper Foreign Currency rises and stabilize the Naira”.

He added, “I believe, when the Refinery takes full production all those Nigeria money that has been wasted in the name of importing Refined Petroleum will be channeled to other important sectors that will boost the living standards of Nigerians”.

Dr Bature AbdulAziz explained that the actualization of the Dangote Refinery Production shows that all the promises of President Tinubu will be achieved, “what he requires at this juncture is the patient and understanding of the Citizens”.

The Elders Forum, also urged President Tinubu to give much emphasis on agriculture, noting that in the whole of Nigeria’s 774 Local Government areas only about 20 do not have active Agricultural activities, as such with given the Sector government attention, it will drastically curtail some serious Insecurities at the local areas.

In the same vein, Dr Bature AbdulAziz said the Government needs to do more on the issue of Security because the problems across the nation are becoming something else.

He said, “Government, needs to devise a new strategy with given Intelligence networking more regards and attention, although we have seen President Tinubu serious efforts but more need to be done to safeguard the lives of Nigerians”, he appealed.

…to establish students complaint unit to address academic challenges

The Senior Special Assistant to the President on Students Engagement, Comrade Sunday Asefon, has said there was need for Nigeria to run a system where first-class graduates from tertairy institutions would be given automatic employment in institutions they graduated from, as well as in Ministries Departments and Agencies (MDAs) in the country.

Asefon who made this known at the unveiling of the Nigerian students’ flag and renewed hope programme agenda by his office on Thursday in Abuja, also advocated sponsorship of best graduating students in ICT and related courses, in partnership with both local and foreign Tech institutions

He said: “One of our hope agenda is the renewed hope academic excellence reward scheme. It entails a befitting celebration and rewarding prize for overall best graduates from every tertiary institutions vis-a-viz arrangements of automatic absorption into the academia by the school authority and other MDAs.”

The former National Association of Nigeria Students (NANS) president also gave assurances that the government was working assiduously towards kick-starting the students loan scheme which was strictly meant for indigent Nigerians, the

He said: “”I can assure you that the bottlenecks about the loan are things of the past and we will ensure the indigent Nigerian students get it once the portal is opened. There’s going to be transparency and the president is committed to make it happen.”

Reeling out some other activities his office was ready to engage in, he disclosed ongoing plans to establish students complaint unit inorder to enable Nigerian students have a platform where they can discuss their problems affecting their academic activities.

Asefon also disclosed that by March this year, his office would be unveiling the National Student Leaders Summit and the Renewed Hope Campus Ambassadors. Also to be unveiled in the year is the Diaspora Student Leaders Retreat, all geared towards renewing the hope of Nigerian students.

Other activities include; Nigerian students leaders’ regional dialogue, annual international students day celebration, annual all Nigerian tertiary institution students affairs conference, Local and foreign engagement of student bodies/inauguration of national students management committee,.identification and discussion of students challenges on campus, sensitization on student loan scheme, social investment and empowerment programme of the federal government.

Reacting to allegations that some universities were charging certain fees for students to undergo drug test, Asefon who said the idea of drug tests for students was a welcome idea, however condemned the alleged payment and vowed to ensure such was abruptly stopped if found out to be true

“On the issue of drug test, that will not stand. I will not say they should not conduct a drug test but such test should be free. If the idea is from NDLEA or the university I commend them but I condemn the idea of asking them to pay a fee.”

The National Identity Management Commission has temporarily suspended Front-End Partners from engaging in the National Identification Number enrolments.

This is because the commission is currently carrying out a revalidation exercise of these third-party registration centres.

The Director General, NIMC, Abisoye Coker-Odusote disclosed this while noting that NIMC has identified multiple infractions and unwholesome practices in the processes of National Identity Number enrolment and modification.

Coker-Odusote revealed this at the opening of a four-day training for the first batch of newly revalidated Front End Partners in Abuja.

While assuring participants that revalidation is aimed at improving the enrolment process and addressing outstanding debts owed to the Front-End Partners, the DG stated that many infractions have been reported, with a significant number attributed Front-End Partners.

Front-end partners provide enrolment services nationwide. She said, “My decision to direct the revalidation of all FEPs was not targeted at anyone or group. It was a step towards sanitizing the system and processes while ensuring the integrity of data in the country’s identity database. It was also one of the steps towards proper auditing of the claims made by some of our FEPs.

“Please be advised that the revalidation exercise is being implemented in phases. This is just the first and not the last. Let me use this medium to remind you all that NIN enrolment is free of charge in Nigeria. My administration has zero tolerance for corruption. We shall therefore not spare anyone found perpetrating corrupt practices or any other form of infractions.”

The DG further explained that the revalidation exercise was part of steps towards ensuring compliance with the highest standards of data security among the FEPs.

She noted, “Don’t forget that I inherited huge debts owed FEPs for over two years. Some of the invoices and claims were questionable, requiring proper auditing. The rot in the process and system left me with no option but to take deliberate steps toward sanitising the enrollment process.

“And to this end, I directed that NIN enrolment activities at all FEP centres be suspended temporarily, pending the outcome of a revalidation exercise.”

In October, NIMC announced the revalidation of its third-party agent licenses. At the time, the commission stated that the process was mandatory for all current partners and was intended to ensure compliance with the latest standards and protocols.

Commenting on the issue of kidnapping in the country, NIMC disclosed that it is working with the Nigerian Communications Commission and security agencies to ensure the use of NIN and SIM databases to track down kidnappers and victims of kidnapping.

The DG of NIMC, Coker-Odusote, stated this at a stakeholder engagement with the Nigeria Identification for Development Project in Abuja.

The DG who spoke through her technical assistant, Ayobami Abiola, said, “NIMC is working very closely with the security agencies to ensure that we can use the NIN in a way which helps to secure the country.

“There have been previous engagements and directives requiring people to use the NIN to register their SIM cards. However, people have been able to circumvent that and this has been to the detriment of using this information for security purposes. However, NIMC is working very closely to plug all of these holes and there will be a solution soon.

“The President has expressed worry over our fragmented identity system which is causing the country huge losses in expenditure and has given us marching orders to ensure we integrate and unify our identity system.

“The goal is to remove all current challenges and difficulties that people face in enrolling for IDs, fostering a robust, seamless, and more inclusive enrolment system where ID is provided for everyone, and no one is left behind.”

The former Minister of Communication and Digital Economy, Isa Pantami, recently disclosed that the security agencies were not using the NIN-SIM policy to fight insecurity in the country.

There was a heated gunfire exchange, on Thursday, as the police rescued Segun Akinyemi, an Abuja resident, who was kidnapped just as he was driving out of his house.

The kidnappers were taking Akinyemi from Abuja to Kano State when the police swooped on them, according to Police Public Relations Officer in Kaduna, ASP Mansir Hassan.

He said on January 18, 2024, operatives attached to Kawo Divisional Headquarters, Kaduna, received a distress call of a kidnapping incident from Abuja.

He said they were alerted that the culprits and their victim were transiting through Kaduna.

“The Operatives, at about 0010 hours, blocked a grey Toyota Hilux van with registration number Abuja RBC 90 DC, carrying four passengers, the driver inclusive, suspected to be the vehicle conveying the kidnappers and their victim.”

“On sensing danger and in an effort to escape, one of the kidnappers fired at the Policemen, and they responded accordingly. In the resulting gun duel, the victim, a certain Segun Akinyemi of block 10, flat 2 FCDA quarters Area 3 Garki, Abuja, was rescued, and one of the kidnappers, a 28-year-old Chinaza Philip of Life Camp Abuja, was arrested,” he said.

The police said the three other suspects who escaped are being trailed, adding that the vehicle belonging to the victim, two Retay G17 model pistols, one Beretta pistol, ten 9mm P.A.K ammunitions, and five 9mm special ammunitions were recovered from the kidnappers.

He said preliminary inquiries revealed that the victim was abducted on January 17, 2024, by the kidnappers just when he was leaving his home situated at the aforementioned address.

He said the three escaped suspects were; Chidibere Nwodibo of Life Camp, Abuja, one Auwal surname unknown, and the gang leader whose identity is yet to be ascertained.

The kidnappers were transporting their victim to Kano before they were intercepted by the Police.

The Commissioner of Police Kaduna State Command, CP A.D Ali, while commending the Operatives for the brave feat, still tasked them to continuously go after criminal elements in the State.

He called on the members of the public to avail themselves of security agencies’ hotlines for any distress call requiring a prompt response.

The House of Representatives Public Accounts Committee, on Thursday, directed the Federal Ministry of Industry, Trade and Investments to refund N75bn allocated to it as COVID-19 intervention funds.

This was as the committee also ordered the Ministry of Health to return the N10bn released to it to produce COVID-19 vaccine.

The resolution was sequel to a motion moved by Bassey Akiba, a member of the Labour Party from Cross River State, following the non-appearance of officials of the ministry at its investigative hearing on Thursday.

The committee, in a recent advertorial, invited 59 ministries, departments and agencies to appear before it for the commencement of an investigative hearing on the alleged mismanagement of COVID-19 funds.

Originally slated for Wednesday, January 17, the House shifted it to Thursday in order to commiserate with the government and people of Oyo State over Tuesday’s explosion which rocked the state capital, Ibadan.

At the commencement of the sitting at the National Assembly, Akiba moved the motion to compel the ministry to refund the funds appropriated to it.

The committee adopted the motion after it was seconded and directed that the ministry refund the said funds to the coffers of the Federal Government.

In his earlier remark, the chairman of the committee, Bamidele Salam (PDP, Osun State), lamented that despite the series of invitations extended to the ministry, its officials failed to show up.

Salam said, “The Federal Ministry of Trade, Industries and Investments got the sum of N75bn as COVID-19 intervention funds. The Public Account Committee has sent invitations to the Ministry of Trade, Industries and Investments three times, and none of the invitations was honoured.

“The federal ministry of trade was to make their appearance yesterday (Wednesday). That was the last opportunity given to them and there was no such appearance. N75bn was appropriated to them.

“The former Permanent Secretary and the current Permanent Secretary are affected by this motion to refund the sum of N75bn to the Federal Government as COVID-19 intervention funds which as far as we are concerned, has not been expended.”

The committee also mandated the Federal Ministry of Health to return N10bn meant for the production of COVID-19 vaccines, but which was not spent, to the Federal Government.

Unlike the trade ministry, the Ministry of Health sent a representative, the Permanent Secretary, Daju Kachallom, who informed the committee that the funds were domiciled with the Office of the Accountant General of the Federation.

The committee, however, directed that the money should be returned, stressing that the ministry might choose to reapply to the National Assembly for the money if it was still needed.

In a related development, the committee also directed the Director General of the Rural Electrification Agency, Salihijo Ahmed, to submit documents detailing the utilisation of the agency’s COVID-19 intervention funds.

The DG appeared before the committee at the investigative hearing and requested more time to submit relevant documents.

The committee told the agency to submit the documents on Friday before the close of work and reappear before it on Monday at 10 am.

At the Alassane Ouattara Olympic Stadium in Ebimpe, Abidjan, on Thursday, William Troost-Ekong’s penalty was the only goal of the West African giants’ Derby as the Eagles picked off the Elephants right in their background.

Ivory Coast became the first host nation to lose a group stage match in 17 matches, since Equatorial Guinea lost as joint-host in 2012.

The Super Eagles also claimed consecutive victories over the Ivoirians for the first time.

Nigeria and Osimhen continued their profligate finishing when he blazed wide from a threaded Samuel Chukwueze pass.

Nwabali was the next to be called to action and he picked up a tame shot before parrying Seko Fofana’s long-range strike away as the Ivorians ramped up the pressure.

Both sides huffed and puffed, failing to make the final pass as they went into the interval level.

Nigeria continued playing on the counter and were awarded a penalty by VAR for Diomande’s kick on Osimhen inside the box.

Captain Troost-Ekong blasted the spotkick down the middle to put Nigeria ahead on 54 minutes.

The hosts ramped up the pressure but Nwabali was on hand to take the ball off an Ivoirien’s foot before Fofana and Obite Ndicka wasted good openings.

Substitute Bright Osayi-Samuel could have added gloss to the win but went for glory while Sangare also shot wide at the other end as Jose Peseiro’s side closed out victory.

The win is Nigeria’s first in five matches while it also ended Ivory Coast’s seven-match unbeaten streak.

Nigeria moved up to second in Group A with four points, level with Equatorial Guinea but with inferior goals difference. They conclude their group stage against Guinea-Bissau on Monday.

The federal government has ordered that the headquarters of the Federal Airports Authority of Nigeria (FAAN) be moved from Abuja to Lagos State.

This was disclosed in a memo dated 15th of January 2024, which was seen by newsmen on Thursday.

The memo issued by the Managing Director of FAAN, Mrs Olubunmi Kuku, disclosed that the relocation is based on the directive of the Minister of Aviation and Aerospace Development, Festus Keyamo.

The memo read: ”The Honourable Minister of Aviation and Aerospace Development has directed that the Headquarters of the Federal Airport Authority of Nigeria (FAAN) should be relocated from Abuja to Lagos.

”Consequent upon the above, you are requested to provide the implication of the relocation to the management.”

CBN Decongests Head Office, Moves Departments To Lagos

The Central Bank of Nigeria (CBN) is set to decongest its head office in Abuja and transfer some of its departments to Lagos State.

Naija News reports that the apex bank made this known in an Internal memo seen on Saturday.

The apex bank stated that the move is meant to increase the productivity of the affected staff while also cutting costs and ensuring their safety.

It further said the decongestion would also improve the apex bank’s operational and workflow efficiency.

Some departments that were affected by the transfer included the Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department and Financial Policy Regulations Department.

[NaijaNews]

Bandits have displaced 10 communities in Kidandan area under Giwa Local Government Area (LGA) of Kaduna State.

Giwa is one of the LGAs that has been badly hit in the ongoing wave of insecurity in the North West.

Daily Trust gathered some of the residents forced to relocate to Kidandan main town and other safer communities in the LGA.

The affected villages include Tunburktu Hayin Dabino, Mugaba, Nasarawan Hayin Doka, Dokan Yuna, Doka, and Hayin Teacher.

Councilor Representing Kidandan Ward, Abdullahi Ismail, confirmed the incident, lamenting that in the last three weeks, troops have been conducting operations around the area but still the bandits continue to terrorize some communities.

Another community leader, who preferred to remain anonymous, said villagers displaced left behind their foodstuffs and houses due to constant bandits intimidation and harassment.

He also disclosed that soldiers operating in the area killed about six of the bandits on Tuesday.

He explained that although residents were happy with the killing of the bandits, they were hesitant to celebrate openly.

He urged the government t to deploy more security agencies to protect other villages from being displaced.

ASP Mansir Hassan, Police Public Relations Officer in Kaduna, was not available for comment as of the time of filing this report.

Billionaire investor Femi Otedola is reportedly acquiring shares in Dangote Cement, according to sources with knowledge of the matter. 

Dangote Cement is among the SWOOT (Stocks Worth Over One Trillion) with a current market capitalization of around N7.7 trillion.

Other members of SWOOT include MTN, Airtel, Seplat, BUA Foods, BUA Cement, Zenith Bank, GTB, UBA, First Bank, Geregu Power, and recently Transcorp Hotel. Dangote Cement has the largest market capitalization.

The stock opened at N350 this week and has so far gained 29%, as demand continues to rise. However, the stock gained 3.8% on Thursday with about 1.8 million shares traded. The company has approximately 16.8 billion shares outstanding. 

This year alone, the stock has seen a remarkable gain of 48%, opening at N317 per share and currently trading at N470 per share. 

Otedola acquiring shares

Sources who shared the scoop with Nairametrics reveal the billionaire is one of the major forces behind the trades and has been acquiring the stock.

It is however unclear how many shares he has acquired so far and whether he plans to hold a significant stake in Nigeria’s largest company by market capitalization.

• Femi Otedola, renowned for his mercurial stock-picking prowess, is recognized by Nairametrics as one of the major drivers of the stock market’s bull run in 2023. 
• His early 2023 foray into Transcorp Group shares sparked a rally that catapulted the stock into the top 5 performing stocks of the year.
• The stock has risen from just under N2 per share to N19 per share. It is believed that Otedola exited the stock at multiples of his entry price. He had also acquired a significant stake that required that he communicate to the Exchange.
• He also acquired shares in First Bank Plc when the stock was trading below N5 in 2022, rising to become the officially declared majority shareholder of the bank. The stock also recently hit the trillion market cap milestone and trades at around N30 per share. 

N10 trillion market cap: Sources also suggest that the billionaire could be betting on Dangote Cement to possibly become the first Nigerian stock worth N10 trillion in market capitalization, a feat that could take the company’s share price to around N1,000 per share. 

Africa and Nigeria’s richest man, Aliko Dangote owns an unassailable stake in the company with over 85% ownership of the stock.

• Dangote Cement currently trades at a high price-to-earnings multiple of 17.4x based on its trailing 12 months’ earnings.
• According to Nairametrics’ valuation metrics, the company’s earnings per share have been growing at a compounded annual growth rate of 21%. 
• Yet, in the stock market, market sentiments often drive up share prices ahead of fundamentals, as investors continue to invest billions of naira in equities. 

Dangote Cement reported earnings per share of N16.2 in the first 9 months of 2023, compared to N12.5 in the same period in 2022. 

[Nairametrics]

There was a heated gunfire exchange, on Thursday, as the police rescued Segun Akinyemi, an Abuja resident, who was kidnapped just as he was driving out of his house.

The kidnappers were taking Akinyemi from Abuja to Kano State when the police swooped on them, according to Police Public Relations Officer in Kaduna, ASP Mansir Hassan.

He said on January 18, 2024, operatives attached to Kawo Divisional Headquarters, Kaduna, received a distress call of a kidnapping incident from Abuja.

He said they were alerted that the culprits and their victim were transiting through Kaduna.

“The Operatives, at about 0010 hours, blocked a grey Toyota Hilux van with registration number Abuja RBC 90 DC, carrying four passengers, the driver inclusive, suspected to be the vehicle conveying the kidnappers and their victim.”

“On sensing danger and in an effort to escape, one of the kidnappers fired at the Policemen, and they responded accordingly. In the resulting gun duel, the victim, a certain Segun Akinyemi of block 10, flat 2 FCDA quarters Area 3 Garki, Abuja, was rescued, and one of the kidnappers, a 28-year-old Chinaza Philip of Life Camp Abuja, was arrested,” he said.

The police said the three other suspects who escaped are being trailed, adding that the vehicle belonging to the victim, two Retay G17 model pistols, one Beretta pistol, ten 9mm P.A.K ammunitions, and five 9mm special ammunitions were recovered from the kidnappers.

He said preliminary inquiries revealed that the victim was abducted on January 17, 2024, by the kidnappers just when he was leaving his home situated at the aforementioned address.

He said the three escaped suspects were; Chidibere Nwodibo of Life Camp, Abuja, one Auwal surname unknown, and the gang leader whose identity is yet to be ascertained.

The kidnappers were transporting their victim to Kano before they were intercepted by the Police.

The Commissioner of Police Kaduna State Command, CP A.D Ali, while commending the Operatives for the brave feat, still tasked them to continuously go after criminal elements in the State.

He called on the members of the public to avail themselves of security agencies’ hotlines for any distress call requiring a prompt response.

[DailyTrust]