No fewer than 200 officials of the Central Bank of Nigeria were on Friday relieved of their duties.

This is an addition to the long list of ongoing disengagements in the apex bank.

This adds to the list of 117 staff sacked by the bank between March 15 and April 11, 2024.

The termination of appointments affects directors, deputy directors, assistant directors, principal managers, senior managers and lower-ranking staff.

Impeccable sources who are staff of the bank confirmed the sack to our correspondent on Friday, saying that those sacked are not less than 200.

They revealed that affected persons include older directors who were not affected by the last round of retrenchment.

One of the sources in a 20-second call with our correspondent simply stated, “It is true and confirmed.”

The staff member who could not disclose further details for fear of victimisation added that the move has caused apprehension among staff of every cadre as the management has not specified any criteria for the decisions.

Another source confirmed the information, indicating that additional dismissals are expected in the months ahead, spread out across staggered phases.

The official said, “It is real and is even more than 200 officials but the actual number is unconfirmed yet. The sack is coming in staggered phases and that is why we can’t confirm the number yet. But it is not less than 200.

“The sacked persons include directors, and other cadres but the ones that are easily known are the directors. Some of the batch of old directors that were not affected during the last round of sacks are now affected.”

The sack letter obtained by our correspondent and issued by the Human Resources Department on May 24, 2024, said the policy was to reorganise the organisation for effective operations.

The letter, lacking a signature read, “The new strategic direction of the bank has been widely publicised. In line with our new mission and vision, the bank is currently undergoing a significant organisational and human capital restructuring process.

“As a result of this review, I have been directed to notify you that your services will not be required with effect from Friday, 24th May 2024.

“Your final entitlements will be calculated and paid to you in due course. Thank you”

In February, at least 1,500 members of staff of the apex bank of Nigeria were redeployed from the headquarters located at Central Area to its Lagos office.

At the time, the CBN said the action was necessitated by several factors, including the need to align the bank’s structure with its functions and objectives and redistribute skills to ensure a more even geographical spread of talent.

It added that it was also in compliance with building regulations, as indicated by repeated warnings from the facility manager, and the findings and recommendations of the Committee on Decongestion of the CBN Head Office.

A memo issued to staff read, “This is to notify all staff members at the CBN Head Office that we have initiated a decongestion action plan designed to optimise the operational environment of the Bank.

“This initiative aims to ensure compliance with building safety standards and enhance the efficient utilisation of our office space”.

Efforts to get the reaction of the bank’s Director of Corporate Communication, Hakama Sidi Ali, was not successful as she did not pick up her call or respond to the text messages to her line.

The Minister of Power, Adebayo Adelabu, has claimed that the hike in electricity tariff is temporary

The minister said he is optimistic about the reduction of electricity tariff.

Adelabu disclosed this on Friday during the sectoral briefing by ministers in Abuja.

Recall that on April 3, the Nigerian Electricity Regulatory Commission, NERC, announced a 240 per cent electricity tariff hike for band A customers who receive a 20-24 hour power supply.

After the Nigeria Labour Congress (NUC) and the Trade Union Congress (TUC) called for reversal, the Commission slashed the tariff by N18.

Unsatisfied with the development, the Organised Labour threatened to go on strike.

Meanwhile, Adelabu said the electricity hike for Band A customers was a temporal hardship pending an increase in power sector output.

The minister stated that the tariff is similar to the initial price surge observed in the telecommunication sector, which eventually saw prices decrease over time.

“The electricity tariff might look expensive at the moment. But I’m optimistic that these tariffs will go down. We know how much we were buying SIM cards when the telcos just came. We know how much we were buying telephones.

“But gradually, as we scale up in generation, transmission and distribution, these prices will also decrease. It’s a temporary hardship leading to a permanent gain,” Adelabu said.

In April, SaharaReporters reported how the Socio-Economic Rights and Accountability Project said it was suing President Bola Tinubu's administration over the arbitrary increase in electricity tariff.

SaharaReporters earlier reported that the Nigerian government had approved N225 ($0.15) per kilowatt-hour tariff increment for Band A electricity consumers in the country.

Band A are those who enjoy electricity supply for 20 hours per day.

The Vice Chairman of the Nigerian Electricity Regulatory Commission (NERC), Musliu Oseni, who made this known at a press briefing in Abuja on Wednesday, had said the increase would see the customers paying N225 instead of the current N66 kilowatt per hour.

Vice-President Kashim Shettima says over $25 billion is used to import petroleum products into the country every year.

Shettima spoke on Thursday at the Vanguard Economic Discourse themed ‘Reforms in the Era of Global Economic Uncertainties: Whither Nigeria’.

The vice-president, who was represented by Tope Fasua, special adviser on economic affairs, assured that this would change in the future.

The development comes five days after Aliko Dangote, Africa’s richest person, said Nigeria will no longer need to import petrol by June.

Speaking at the event, Shettima said the country will stop importing the product due to the backing of the government and the revamping of state-owned refineries.

“With the support our government is lending to our private sector-led oil refineries and rejuvenation of some of the state-owned facilities. The $25 billion we spend yearly importing petroleum and other refined products will soon be a thing of the past allowing the naira a much-deserved breath,” he said.

Shettima said the country will not hesitate to backtrack and review policies if it would impose undue hardship on Nigerians as it “has been seen over time”.

“So this administration is not out to make the life of Nigerians tougher, but to make the Nigerian economy sustainable, and the lives of our people more enjoyable,” Shettima said.

“Rest assured, ladies and gentlemen, that the next few years will be full of positive achievements. They include improvements in the standards of living, higher productivity, food security, bumper harvests and remarkable achievement with the guidance and grace of Almighty God.”

Speaking further, he said President Bola Tinubu has been able to secure more than $20 billion in potential investments into the country, “including $14 billion from India, $250 million from the Netherlands, and commitments of $500 million for lithium development in Nasarawa state”.

Shettima said the country has secured another $500 million from Germany into renewables, adding that the Siemens power sector projects will positively impact energy sufficiency in due course.

The Attorney-General of the Federation ( AGF), Lateef Fagbemi, SAN says the offence of the detained leader of the proscribed Indigenous People of Biafra (IPOB) Nnamdi Kanu is a difficult one and can only the court is competent to determine the charge.

Fagbemi said this while responding to questions at the Sectoral Ministerial Briefing on the first anniversary of the President Bola Tinubu administration on Friday in Abuja.

He said that since the matter was already in court, it should be left to the law to have its way.

The AGF pointed out that there was a remarkable difference between Kanu’s case and that of the convener of #RevolutionNow protest, Omoyele Sowore.

He said, “Sowore and Kanu are not the same, when it comes to the first one I didn’t have difficulty to say go, but I have difficulty with the second one”.

While pointing out that Kanu is being held in accordance with the Constitution, he observed that, “the matter is still in court, let’s wait for the court”.

It will be recalled that Sowore was arrested in 2019 and prosecuted for allegedly calling for the forceful take over of the administration of former President Muhammadu Buhari.

However, the federal government through the office of the AGF in February this year filed a notice of discontinuation of the case.

[THE WHISTLER]

A Federal High Court sitting in Ikoyi, Lagos, has ordered the interim forfeiture of N830,875,611 $4,719,054, and several properties linked to the former governor of the Central Bank of Nigeria, Godwin Emefiele.

The court granted the order on Friday after Justice Yellim Bogoro considered an ex-parte motion filed by Bilkisu Buhari and C.C. Chineye on half of the Economic and Financial Crimes Commission (EFCC).

The EFCC in its motion said the funds are held in various banks linked to Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd, Lipam Investment Services Limited, Tatler Services Limited, Rosajul Global Resources Ltd, and TIL Communication Nigeria Ltd.

According to the court filing, Emefiele’s properties forfeited to the federal government include; 94 Units of 11 Storey building under Construction at 2, Otunba Elegushi 2nd Avenue (Formerly Club) Road, iKoyi, Lagos; and AM Plaza, 11 Story Office Space, Situate on 1E, Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos.

Others are Imore Industrial Park 1, Esa Street, Imoore Land purchased with (Deep Bive Industrial Town, Oriade LCDA, Amuwo Odofin LGA, Lagos; Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro Lagos, Owolomi Village, Ibeju-Lekki LGA, Lagos.

Also, 2 properties purchased from Chevron Nigeria, Closed PFA Fund, Block B.Lot.Twin Completed Property Lakes Estate. Lekki, Lagos has been seized.

The court also ordered the EFCC to seize One plot measuring 1,038.069 sqm, at Lekki Foreshore Estate Scheme, Block A, Plot 4, Foreshore Estate, Eti-Osa, LGA; Estate located at 100, Cottonwood Coppel Texas Drive, Coppel, Texas, US, owned by Lipam investment Services; a Land at 1, Bunmi Owulude Street, (Maruwa), Lekki Phase 1, Lagos and a Property Situate on 8, Bayo Kuku Road, lkoyi Lagos.

The EFCC relied on Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, Section 44(2)(b) of the Constitution while seeking for an interim forfeiture.

In the motion before the court, the anti-graft agency specifically requested “an interim order forfeiting to the Federal Government of Nigeria the funds held in the accounts listed in Schedule ‘A,’ which are reasonably suspected to be proceeds of unlawful activities.”

“An Interim order forfeiting to the Federal Government of Nigeria Properties provided in 2nd Schedule ‘B’ which are proceeds of unlawful activities.

“An Order directing the publication In any National Newspaper, the interim order under reliefs 1-2 above, for anyone who Is interested in the properties and funds sought to be forfeited to appear before this Honourable Court to show cause within 14 days why the final order of forfeiture of the said properties and funds should not be made in favour of the Federal Government of Nigeria.”

After listening to the submission from the EFCC’s counsel, Justice Bogoro held, “I have listened to the submission of the applicant’s counsel and also perused the motion just moved, together with the affidavit in support.”

The case was, however, adjourned to July 2, 2024, for the motion for final forfeiture.

Emefiele is standing trial in multiple courts over abuse of office, alleged $4.5b and N2.8 billion alleged fraud which the EFCC said he allegedly perpetrated while in office.

[THE WHISTLER]

The Minister of Solid Minerals Dele Alake, on Thursday said that previous administrations have failed to effectively utilize the revenues from the oil sector.

Alake said this at the ministerial briefing in Abuja while unveiling his performance in the last ten months.

He said, “Nigeria practiced a monocultural economy, which means Nigeria has solely depended on oil. In my own estimation, Nigeria, over the decades, failed woefully to efficiently utilize the revenue that accrued to us from the oil sector.

“And how did we fail to utilize that? We failed to utilize the humongous amount of petrodollars that came into the coffers of this country. We did not utilize this money to sufficiently create a very solid structural economy in other sectors.

“And one of the most critical sectors that we’ve failed to address over the decades is the solid mineral and agricultural sector”.

Alake said he was mandated by the president to restructure the ministry which had been redundant to investment, revenue and growth. This he said, prompted the total revocation of over 2,500 licenses.

Explaining further the minister said, “On the resumption of the president into office, there has been a major plank of the renewed hope agenda which is contingent on the diversification of the economy, away from oil.

“And towards this end, we discovered on assumption of office that we had several people, Nigerians or non-Nigerians, holding titles and failed to remit the normal civic obligations to the government, like paying their taxes, paying their fees, even renewal annual fees, that are as little as N200,000. Whereas, these people were making away with billions from the Nigerian economy.

“We are sanitizing the operating environment of the solid mineral sector, to enable it, to assume its pride of place, in contributing significantly to the GDP of this country.”

The Imo State Governorship Election Petitions Tribunal on Friday upheld the election of Hope Uzodimma of the All Progressives Congress, APC, as Imo State governor.

The tribunal, which gave its ruling in Abuja, also dismissed the petition of the Labour Party, LP, and its governorship candidate, Athan Achonu.

In a unanimous decision delivered by Justice Oluyemi Akintan-Osadebay, the three-man panel of the tribunal held that Uzodimma’s election as Imo State governor complied substantially with the provisions of the Electoral Act.

The tribunal further held that the Labour Party in its petition failed to prove the allegation of over-voting and non-compliance to the Electoral Act.

Details later.

Nigeria’s Gross Domestic Product (GDP) declined by 2.98 per cent in the first quarter (Q1) of 2024 due to economic hardships under President Bola Tinubu’s administration.

The National Bureau of Statistics, NBS, disclosed this in its Q1 2024 GDP report released on Friday.

The report said the nation’s current growth rate is 2.98 per cent, higher than the 2.31 per cent recorded in the same quarter in 2023 but lower than the 3.46 per cent recorded in the fourth quarter (Q4) of 2023.

“Nigeria’s Gross Domestic Product (GDP) grew by 2.98 per cent (year-on-year) in real terms in the first quarter of 2024. This growth rate is higher than the 2.31% recorded in the first quarter of 2023 and lower than the fourth quarter of 2023 growth of 3.46 per cent,” the report read.

“The performance of the GDP in the first quarter of 2024 was driven mainly by the Services sector, which recorded a growth of 4.32 per cent and contributed 58.04 per cent to the aggregate GDP.

“The agriculture sector grew by 0.18%, from the growth of -0.90% recorded in the first quarter of 2023. The industry sector’s growth was 2.19%, an improvement from 0.31% recorded in the first quarter of 2023.

“In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the first quarter of 2024 than the corresponding quarter of 2023.”

In the period under review, Nigeria recorded a surge in the inflation rate, which rose to 33.69 per cent in April.

The Academic Staff Union of Universities, Nsukka Zone, has stated that it is not sharing in the joy of one year in office of President Bola Tinubu due to the administration’s unfulfilled promises

Addressing journalists on Friday at the Benue State University, Makurdi, the Zonal Coordinator, Raphael Amokaha who decried the insensitivity of successive administrations in meeting the renegotiation of the 2009 Federal Government/ASUU agreement said their expectations were much higher than the present reality.

Some of the unfulfilled agreements, according to Amokaha include; poor funding of the nation’s universities, breach of university autonomy, particularly in the Integrated Personnel Payment Information System, nonpayment of earned academic allowances, and the four months salaries withheld.

While recognizing the submission of the president to review the appointment of university governing councils recently released, the union advised the president not to see it as patronage for political loyalty.

Amokaha noted that contrary to the promise of President Tinubu that  the era of the strike in Nigerian universities was over, the ASUU zonal boss said, ‘Unfortunately, we are on the verge of a strike.’

He added, “The government of President Bola Ahmed Tinubu is about to celebrate one year in office. Unfortunately, members of our union do not share in the elation of the one-year celebration.

“Our expectations were much higher than the present reality. Again, we cry out to the President, let the lecturers breathe! Do not suffocate us!! 

“The draft renegotiated 2009 agreement must be signed immediately and implemented even though it may need to be looked at before signing now so that what will be agreed upon now will be commensurate to the hyperinflation ravaging our country.

“The balance of the eight months withheld salaries owed our colleagues should be paid immediately. They have now done the work in full and to make it worse, the value of the eight months’ salary is now barely up to the value of two months’ salary at that time.

Speaking further, Amokaha said, “Membership of governing councils requires notable and upright personalities with experience in university administration.

“It’s therefore not proper that personalities like Professors Attahiru Jega, Olu Obafemi, and Munzali Jibril be tossed about in the name of dissolution or reconstitution of councils without recourse to propriety.

“Appointments to university governing councils must not be viewed as patronage for political loyalty.”

The Coordinating Minister of Health and Social Welfare, Prof Muhammad Pate on Friday said the enrolment quota in medical, nursing, and other health professional schools has been increased from 28,000 to 64,000 yearly.

Prof Pate said this at the sectoral ministerial press briefing to mark the first anniversary of President Bola Tinubu in office in Abuja.

Over the years, health workers in the country have always moved to other countries to practice, but experts say the recent increase in emigration is worrisome.

Experts identified the push factors as inadequate equipment, worsening insecurity, poor working conditions, and poor salary structure.

Data from the Medical and Dental Consultants’ Association of Nigeria showed that about 1,056 consultants left the country to seek greener pastures between 2019 and 2023.

The Nigerian Association of Resident Doctors also revealed over 900 of its members left for Europe between January and September 2023.

Pate, however, said, “We have doubled the intake, the enrollment, the quotas of medical schools, nursing schools, and other health professionals’ schools from an enrollment target of 28,000 a year to 64,000 now. 

“That is just the first step, the education sector will have to play its role. The states will have to play in to improve the infrastructure, the training, and the tools to produce more healthcare workforce because we need to produce more healthcare workforce given that we’re losing some so that we can serve the population of this country.”

On the Primary Health Care Centres, the minister noted that at least 1,400 centres can now provide skilled birth attendants.

According to him, more than 2,400 health workers – doctors, nurses, and midwives are been recruited in facilities to provide essential health services to Nigerians in rural areas.

He also highlighted that the Federal Government has disbursed the first tranche of N25bn of the Basic Health Care Provision Fund through the National Primary Health Care Development Agency and the National Health Insurance Authority.

“We put a condition that states that will access those have to comply with the fiduciary guidelines that have been provided, responding to lapses that have been observed over here so that the resources go to Nigerians.

“Twenty-three states have received those funds, and I believe that the rest of the states are just about to complete and receive their financing to channel through the PHCs.”

The Minister of State for Health and Social Welfare, Dr Tunji Alausa had in October 2023 said the government had put in place strategies to increase admissions into medical and dental institutions.

Dr Alausa noted that the 3,000 doctors produced annually in Nigeria was inadequate.

He highlighted that the mass exodus of licensed doctors and other health professionals to more developed countries would be discouraged by making the healthcare environment more attractive.