Olalere Oyewumi, a federal lawmaker from Osun State, who is a Peoples Democratic Party (PDP) senator, has admitted that he bought votes during the 2023 general elections.

Vote buying and selling was rampant during the last elections, which affected the credibility of the polls conducted by the Independent National Electoral Commission (INEC).

The Economic and Financial Crimes Commission (EFCC) had also deployed its officials in some polling units.

In a viral video, Oyewunmi, who is the Deputy Minority Senate Leader, narrated how he sent his aide on an errand on the eve of the election with his personal money for vote buying but was rejected by strong supporters of the All Progressives Congress (APC).

Speaking in Yoruba, the Minority Leader, who represents Osun West District, said “I tried all the tricks I knew to win at the Onilu House (Ile Onilu) polling unit but these people didn’t allow me.

“After exhausting money for the election, I gave my personal money to Ten-Ten to give to people at night to buy votes on the eve of the election, Ten-Ten came back with my money, saying the people rejected it. I was surprised.

“That was why I reached out to these people because I cannot be a Senator and continue to fail there. I was the one who called Ayandosu from Abuja to join me in the PDP. I told him he has talent and that the party he was serving then (APC) would not allow him to grow.”

Reacting to the development, the leadership of APC through its chairman, Tajudeen Lawal, said the confession had shown that Osun election was not free and fair.

In a statement, Lawal said: “The confessional statement of Senator Oyewumi was a confirmation of the fact that the last series of the elections in the state which secured victory for all the PDP candidates including Governor Ademola Adeleke, were brazenly rigged.

“The self-confession of Senator Oyewumi was an indication that he is a desperate politician who could go to any length to illegally corner opportunities regardless of what such portends to the right-thinking members of the society.

“In a civilised clime, Senator Oyewumi has no iota of reason to remain a minute longer in the Senate where he has been the Minority Leader based on his self-confession that he engaged in vote-buying during the election that secured a fraudulent victory for him.

“By now, Senator Oyewumi should be a guest of the statutory law enforcement agency constitutionally saddled with the responsibility of investigating such political crime involving a senator of the Federal Republic of Nigeria.”

Vice-President Kashim Shettima says Nigeria’s economy is experiencing turbulence but it is not limited to the country.

Shettima spoke at a one-day town hall meeting organised by the Presidential Enabling Business Environment Council (PEBEC) held in Abuja on Friday.

Outlining the achievements of President Bola Tinubu when he was the governor of Lagos state, Shettima said the country needs to be fair to him. 

“This is a man we need to rally round and support. Yes, our economy is going through turbulence but is it confined to Nigeria alone? Let’s take a global picture,” he said. 

“Is any economy immune from the challenges of the times? So, I ask you to be fair to this poor man. 

“There is no doubt that every thriving economy grows from the quality of reforms adopted to offer the people avenues to translate their business ideas into formidable enterprises.”

Speaking further, Shettima said PEBEC is an enabler for the ministries, departments and agencies (MDAs).

“Our role requires a unified and collaborative effort across the councils and MDAs and we can not afford to look away,” he said.

“The long-term success of PEBEC hinges on our ability to institutionalise reforms capabilities, foster deep collaboration across government and maintain a commitment to continuous improvements.”

He said the current reforms must become ingrained in public institutions. 

“By doing so, we kept the way for sustained progress and lasting impact that would outlive us all, creating a better Nigeria for our children and their children afterwards,” Shettima said.

He said the government must be driven by every citizen who aspires to grow businesses and who looks to the government for prosperity. 

According to the vice-president, these are peculiar times for developing solutions to improve the ease of doing business.

Shettima said Nigeria is the future of Africa and the burden is not only on leaders but on everyone to achieve set goals.

‘TINUBU CAPABLE TO LEAD NIGERIANS’ 

On May 29, Tinubu missed his steps and fell while climbing the parade vehicle at Eagle Square in Abuja.

Speaking on the issue, Shettima expressed disappointment in those who took a jab at the president’s health status due to the incident.

“We are not asking you not to question the eligibility of your president’s condition. But there is this mischievous vexation about the president’s health status,” Shettima said.

“We are not preparing for the Olympics, but an institution that builds on the superiority of ideas. But I dare to put it to you. The hallmark of true leadership is not the ability to lift a bag of cement, but the capacity to come up with robust ideas to solve a nation’s problems.”

The International Monetary Fund (IMF) has agreed to disburse $360 million to Ghana as part of its $3 billion loan arrangement.

In a statement on Friday, the IMF said the new tranche increases the country’s total receipts from the Washington-based lender to about $1.6 billion since signing up to the $3 billion three-year programme in May 2023.

“The Executive Board of the International Monetary Fund (IMF) completed today the second review of Ghana’s US$3 billion, 36-month Extended Credit Facility (ECF) Arrangement, which was approved by the Board in May 2023,” IMF said.

“Completion of the second ECF review allows for an immediate disbursement of SDR 269.1 million (about US$360 million), bringing Ghana’s total disbursements under the arrangement to about US$1.6 billion.

“Ghana’s economic reform program is delivering on its objectives.”

Following acute economic and financial pressures in 2022, the IMF said the fund-supported programme served as a credible anchor for the government to adjust macroeconomic policies.

The Bretton Woods institution said it has also propelled the implementation of reforms to restore macroeconomic stability and debt sustainability while laying the foundations for higher and more inclusive growth.

“These efforts are paying off, with growth proving more resilient than initially expected, inflation declining at a faster pace, and the fiscal and external positions improving,” IMF said.

“The medium-term outlook remains favorable but subject to downside risks—including those related to the upcoming general elections

“Ghana’s performance under the IMF-supported program has been generally strong. All quantitative performance criteria for the second review and almost all indicative targets were met. Good progress has also been made on the key structural reform milestones, despite some delays.”

The Ghanaian authorities, IMF said, have also continued to make progress on their comprehensive debt restructuring.

In January, Ghana got a moratorium with official creditors on debt payments through May 2026, negotiating a deal with Eurobond investors to restructure $13 billion debt by the end of March.

The Central Bank of Nigeria (CBN) has released new directives to commercial banks regarding the deposit of foreign currency cash with the apex bank.

In a circular COD/DIR/INT/CIR/001/016 published on the bank’s website, the Director of Currency Operations, Mr. Mohammed Solaja, instructed Deposit Money Banks (DMBs) to submit a written notification to the Central Bank of Nigeria (CBN) at least three working days prior to depositing foreign currency notes, indicating their intention to make such a deposit.

The Central Bank of Nigeria (CBN) has specified that deposits of foreign currency can only be made at its branches in Abuja and Lagos.

It further directed that each bank would be allowed a maximum deposit of $10 million threshold for USD 100 notes and USD 50 notes daily.

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The CBN said that smaller denominations of $ 20 notes and belows would be at a maximum of $1 million daily.

“British Pound and Euro were also pegged at GBP 1 million and Euro 1 Million per day per DMB,” the CBN said.

According to the circular, each denominations would be in separate boxes and two representatives of a DMB wanting to make.deposits must be present to witness the counting and confirm the amount.

It added that only CBN-registered CIT companies for deposit of foreign currency notes would be allowed to representative the DMBs in the exercise.

The CBN directed that the deposits would take place between 8.00 am and 12 noon and that the selected branches must confirm the deposits same day.

Handling charge, it.said would be at 0.30 percent and would be received from the Current Accounts of DMBs with the CBN.

The bank said that the new guidelines supersede the June 17, 2017 circular referenced: COD/DIR/GEN/CMF/11/094.

The Naira appreciated against the dollar at the foreign exchange market on Friday to end the week on a positive note after nine days of depreciation.

FMDQ data showed that the Naira gained at N1505.30 against the dollar on Friday from N1510.10 traded on Thursday.

This represents an N4.8 gain against the dollar compared to the N1510.10 traded the previous day.

Similarly, the Naira saw a gain and traded N1515 against the dollar at the foreign exchange market on Friday.

This is the first time the Naira has appreciated since June 18, 2024, when it traded at N1482.72 per dollar at the official forex market.

The development comes as Nigeria’s external reserves rose to a record high of $34.07 billion on June 26, 2024.

Seriake Dickson, a senator representing Bayelsa West District in the National Assembly on Friday described those behind oil theft in the Niger Delta as “big players” who reside outside the region.

The Senator, elected on the platform of the Peoples Democratic Party (PDP), made the allegation at Oporoza, headquarters of Gbaramatu Kingdom, Warri South-West Local Government Area of Delta while visiting the Pere of Gbaramatu Kingdom, Oboro-Gbaraun II, Aketepe, Agadagba.

Dickson said although Ijaw youths were tagged to be behind oil theft, they lacked the capacity and technical know-how to understand how pipelines operate.

“Those big players behind the crude oil theft are not from the region but are based in Lagos, Abuja and other parts of the world,” he said.

He explained that the Ijaw people were living in the creeks, earning their daily livelihood on the waterways and farmlands when the alleged thieves polluted the land with their nefarious activities.

“We have no means and no capacity to engage in the high-level operations that result in the daily loss of Nigerian crude oil produced from our place.

“Those who have the capacity to compromise and infiltrate the national security system and infiltrate the national petroleum system; those who have the capacity to hire the tankers and shuttle vessels, they are not Ijaws.

“We do not have the capacity to do that! We do not even have the experience to be involved in that kind of operation,” he said.

The legislator, who is also the state ex-governor, said such high-level operations needed a lot of resources, coordination, funding and international networking.

He, however, urged Nigeria to step up her game in the international arena by pushing for the designation of her stolen crude oil.

“Those who, on a daily basis under declare what is produced; those who have refused to properly monitor and record what is produced for over 50 or 60 years should take the blame.

“It is not the Ijaw youth – harmless people without the capacity and without the technical know-how,” he said.

He, however, commended the traditional ruler for ensuring peace in his kingdom and the entire Niger Delta.

The News Agency of Nigeria (NAN) reports that Dickson also visited Dr Government Ekpemupolo, alias Tompolo, founder of Tantita Security Services Nigeria Limited (TSSNL).

He commended Ekpemupolo for the wonderful job he had been doing with his private security outfit, TSSNL, to boost the nation’s oil revenue and ensure the regeneration of the region’s ecosystem. (NAN)

Former Minister of Agriculture, Chief Audu Ogbeh, has called on the federal government to consider scrapping the local government system if state governors continue to hinder its effective operation.

Ogbeh highlighted concerns over the inefficiency of Nigeria’s 774 local government areas, citing issues of governance control and alleged mismanagement of funds by governors. He emphasized that little improvement has been seen despite calls for local government autonomy and recent legal actions against governors for misusing local government funds.

Speaking on the socio-political programme “Inside Sources with Laolu Akande” on Channels Television, Ogbeh, a former National Chairman of the Peoples Democratic Party (PDP), expressed frustration over disappearing funds meant for local government administration. He criticized the lack of visible development projects despite significant federal allocations.

“If we don’t want the local government system, let’s scrap it. But if allowed to function properly, it could be a fantastic system,” Ogbeh asserted.

He urged the federal government to withhold monthly allocations to states where governors appoint caretaker committees for local government administration, labelling such committees illegal according to Supreme Court rulings.

“Don’t send them cash; deduct their allocations and retain it,” Ogbeh insisted. He argued that governors failing to manage local government affairs adequately undermine national stability and development.

“These failures are creating dangerous problems for the country,” he concluded, emphasizing the urgent need for effective governance at the grassroots level to benefit all Nigerians.

The Oyo State Government has approved the recruitment of 7,500 teachers and 3,000 non-teaching staff for the state’s post-primary education sector, aiming to enhance its quality.

Akinade Alamu, Chairperson of the Oyo State Post-Primary Teaching Service Commission (TESCOM), announced this on Friday in Ibadan. He emphasized that the recruitment will be merit-based and encouraged all qualified candidates, including those with physical challenges, to apply.

Alamu highlighted the importance of merit-based employment for quality education and stressed the necessity of adhering to the application guidelines. He cautioned applicants against applying for both categories simultaneously, stating that each candidate must choose either the teaching or non-teaching category.

Interested candidates with the required credentials can apply through the provided link within a two-week period. Applicants must have a National Identification Number, a functional email, and phone numbers, among other requirements.

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The recruitment process includes an online application, a CBT examination, and an oral interview. Alamu praised Oyo State Governor Seyi Makinde for approving the mass recruitment initiative.

“Oyo State government’s huge investment in the education sector is yielding positive results as our students are doing well on all fronts. Therefore, the government is set to recruit more teachers, in addition to those on ground,” he said.

According to Mr Alamu, the recruitment exercise is being supervised by an inter-ministerial committe that would ensure a seamless exercise.

The Permanent Secretary, TESCOM, Haroon Lawal, was quoted as saying that the recruitment is aimed at fortifying the teaching and non-teaching sector of the state’s secondary education.

At least 30 British citizens of Nigerian origin will be on the ballot in the United Kingdom’s elections scheduled for Thursday, July 4.

An analysis of the list of candidates by a UK election data supplier, Democracy Club, showed that 20 British-Nigerians will be representing mainstream parties, including the Labour Party, the Conservatives Party, the Liberal Democrats, and the Reform UK, while the rest are from smaller parties or contesting as independents.

The new Parliament is expected to be the most diverse in Britain’s history as more ethnic minorities, including Nigerians, in mainstream and fringe parties, are making strong overtures to the electorate with persuasive manifestos.

To stand as a candidate in a UK Parliamentary General Election, a candidate must be at least 18 years old and a citizen of a commonwealth country who does not require leave to enter or remain in the UK, or has indefinite leave to remain in the UK.

Some of the candidates are seeking re-elections to the parliament, others are appearing on the ballot paper for the first time, hoping to get the votes of their constituencies.

The Central Bank of Nigeria (CBN) has issued fresh guidelines on foreign currency deposits by deposit money banks (DMBs).

CBN made this known in a circular signed by Solaja Olayemi, its acting director of the currency operations department on Friday.

In the circular, the apex bank directed banks to transfer all excess foreign currency notes to its Lagos or Abuja branches.

The financial regulator said this is aimed at boosting liquidity in the foreign exchange market. 

According to CBN, each bank would be allowed a maximum deposit of $10 million threshold for $100 notes and $50 notes daily.

“In order to deepen the foreign exchange market, boost liquidity and attain convergence in the exchange rates of the parallel and official markets, the Central Bank of Nigeria (CBN) has approved that DMBs may deposit their excess foreign currency notes with Lagos and Abuja branches of the Bank,” CBN said.

“The approval is a response to the increasing demand by DMBs to deposit their forex cash with CBN for onward credit to their off-shore accounts with the correspondent banks.”

‘3 WORKING DAYS NOTICE FOR INTENT TO DEPOSITS’

The financial regulator said the banks should adhere strictly to its guidelines such as giving three days notice showing intent to deposit foreign currencies.

“Give at least three (3) working days’ notice of their intent to deposit forex cash, in writing to the branch controller, CBN Lagos or/and Abuja. This must be accompanied by the list of owners of foreign currency to be deposited,” CBN said.

“All deposits must be within the threshold of the following per day: (i) USD higher bills ($100 and $50) maximum limit of $10 million. (ii) USD lower bills (20 and below) maximum limit of $1 million. (iii) GBP notes a maximum limit of £1 million. (iv) EURO notes – maximum limit of €1 million.

“Two (2) representatives of the depositing bank must be present to witness and confirm the amount to be deposited.

“Deposits may be in $100, $50, $20, $10, $5, $1 and all GBP and EURO denominations. Each denomination shall be in separate boxes.

“The DMBs shall engage the services of only CBN-registered CIT companies for deposits of foreign currency notes.

“The time for accepting deposits shall be between 8am and 12pm.”

CBN said Abuja and Lagos branches would receive, count and authenticate deposits in the presence of the representatives of the depositing bank on the same day.

“The bank shall credit the DMBs account through their correspondent bank within the cycle time of T+5.” the apex bank said.

“The handling charge of 0.30 per cent of the authenticated amount should be recovered from the DMB current account with CBN.

“The Bank would not accept forex deposits from any DMB that fails to comply with any of the guidelines.”

On  September 12, 2023, the CBN asked banks to stop utilising gains from the revaluation of the naira to pay dividends or finance operations.