AFOLABI

AFOLABI

The Nigerian Senate has approved a bill to establish the South-West Development Commission.

The bill seeks to address environmental, ecological, and other development challenges in the southwest region of Nigeria

SaharaReporters earlier reported that the House of Representatives had passed a bill for an Act to establish the South-West Development Commission.

This was contained in a statement issued by the Southwest Caucus of the House of Representatives, noting that the bill was aimed at addressing critical infrastructural, ecological, and developmental challenges in the southwest region.

According to the statement issued by the House of Representatives at the time, the bill would be transmitted to the Senate for concurrence.

"The Southwest Caucus of the House of Representatives is pleased to announce the successful passage of the ‘Bill for an Act to Establish the South West Development Commission (HB.283)’ by the House of Representatives on Thursday, June 6, 2024.

"The bill, which aims to address critical infrastructural, ecological, and developmental challenges in the Southwest region, will now be transmitted to the Senate for concurrence,” the statement said.

Thursday, 26 September 2024 16:02

CBN Sells Dollars To BDC Operators At ₦1,590/$

The Central Bank of Nigeria (CBN) has reviewed and approved the sale of foreign exchange (FX) to qualified bureau de change (BDC) operators at a rate of ₦1,590 per dollar.

Naija News understands that the latest action is aimed at addressing the demand for invisible transactions.

In a circular issued yesterday, titled ‘Sales of Foreign Exchange to BDCs to Meet Retail Market Demand for Eligible Invisible Transactions,’ the CBN announced that it will provide $20,000 at the rate of ₦1,590 per dollar to each BDC.

The announcement was signed by the acting director of the trade and exchange department, W.J. Kanya.

The apex bank stated: “This is to inform the Bureau De Change (BDC) Operators and the general public that the CBN will be providing additional liquidity to this segment of the foreign exchange market.

“To this end, CBN has approved the sale of US$20,000.00 to each eligible BDC at the rate of N1,590/5. This is to meet the demand for invisible transactions.

“All BDCs are allowed to sell to eligible end-users at a margin of NOT MORE THAN one percent (1%) above the purchase rate from CBN

“Eligible BDCs interested in this transaction are directed to make the Naira payment to the CBN Deposit Account Numbers with them.”

The Federal Republic of Nigeria has filed 16-count charges against former Kogi State Governor, Yahaya Adoza Bello, Umar Shuaibu Oicha, and Abdulsalam Hudu at the High Court of the Federal Capital Territory Abuja.

The charges, filed on September 24, 2024, in Case No: CR/7781, include conspiracy, criminal breach of trust, and possession of unlawfully obtained property. The case is pending before the High Court of the Federal Capital Territory Abuja.

Key allegations include conspiracy to commit criminal breach of trust involving N110.4 billion in 2016 and misuse of state funds to acquire properties, including No. 35 Danube Street, Maitama District, Abuja (N950 million), No. 1160 Cadastral Zone C03, Gwarimpa II District, Abuja (N100 million), and No. 2 Justice Chukwudifu Oputa Street, Asokoro, Abuja (N920 million).

Other properties allegedly acquired with misused funds include Block D Manzini Street, Wuse Zone 4, Abuja (N170 million), Hotel Apartment Community: Burj Khalifa, Dubai (Five Million, Six Hundred and Ninety-Eight Thousand, Eight Hundred and Eighty-Eight Dirhams), Block 18, Gwelo Street, Wuse Zone 4, Abuja (N60 million), and No. 9 Benghazi Street, Wuse Zone 4, Abuja (N310.4 million).

Additionally, the defendants are accused of transferring $570,330 and $556,265 to TD Bank, USA, and possessing unlawfully obtained property, including N677.8 million from BESPOQUE BUSINESS SOLUTION LIMITED.

Prosecutors include Dr. Kemi Pinheiro (SAN), Rotimi Oyedepo Iseoluwa (SAN), Hannatu Umar Kofarnaisa, Zeenat Atiku Bala, Abubakar Salihu Wara, Chinenye C. Okezie, Abbas O. Muhammed, Bilkisu Buhari Bala, and Suleiman I. Suleiman.

The charge sheet reads, “That YAHAYA ADOZA BELLO, UMAR SHUAIBU ORICHA and ABDULSALAMI HUDU sometime in 2023, in Abuja, within the jurisdiction of this Honorable Court, whilst having dominion over the state’s treasury, dishonestly used the total sum of N950,000,000 for the acquisition of a property known as No: 35 Danube Street, Maitama District, Abuja.

“That YAHAYA ADOZA BELLO, UMAR SHUAIBU ORICHA and ABDULSALAMI HUDU sometime in 2021, in Abuja, within the jurisdiction of this Honorable Court, whilst having dominion over the state’s treasury, dishonestly used the total sum of N100,000,000 for the acquisition of a property known as No: 1160 Cadastral Zone C03, Gwarimpa II District, Abuja.

“That YAHAYA ADOZA BELLO, UMAR SHUAIBU ORICHA and ABDULSALAMI HUDU sometime in 2020, in Abuja, within the jurisdiction of this Honorable Court, whilst having dominion over the state’s treasury, dishonestly used the total sum of N920,000,000 for the acquisition of a property known as No: 2 Justice Chukwudifu Oputa Street, Asokoro, Abuja.

“That YAHAYA ADOZA BELLO, UMAR SHUAIBU ORICHA and ABDULSALAMI HUDU sometime in 2022, in Abuja, within the jurisdiction of this Honorable Court, whilst having dominion over the state’s treasury, dishonestly used the total sum of N170,000,000 for the acquisition of a property known as Block D Manzini Street, Wuse Zone 4, Abuja.

“That YAHAYA ADOZA BELLO, UMAR SHUAIBU ORICHA and ABDULSALAMI HUDU sometime in 2018, in Abuja, within the jurisdiction of this Honorable Court, whilst having dominion over the state’s treasury, dishonestly used the total sum of N100,000,000 for the acquisition of a property known as No: 1773 Guzape District, Abuja.

“That YAHAYA ADOZA BELLO, UMAR SHUAIBU ORICHA and ABDULSALAMI HUDU sometime in 2020, in Abuja, within the jurisdiction of this Honorable Court, whilst having dominion over the state’s treasury, dishonestly used the total sum of N100,000,000 for the acquisition of a property known as No: A02/176 Block 488B, Lome Street, Wuse 1, Abuja.


“That YAHAYA ADOZA BELLO, UMAR SHUAIBU ORICHA and ABDULSALAMI HUDU sometime between 2020, in Abuja, within the jurisdiction of this Honorable Court, whilst having dominion over the state’s treasury, dishonestly used the total sum of N66,000,000 for the acquisition of a property known as No: 739 Aminu Kano Crescent, wuse 2 at No. 13 Citiscape-Sharriff Plaza, Abuja.

“That YAHAYA ADOZA BELLO, UMAR SHUAIBU ORICHA and ABDULSALAMI HUDU sometime in 2020, in Abuja, within the jurisdiction of this Honorable Court, whilst having dominion over the state’s treasury, dishonestly used the total sum of N550,000,000 for the acquisition of a property known as No: 2934A Cadastral Zone A06 also known as No.1 Ikogosi Spring Close, Maitama District, Abuja.

“That YAHAYA ADOZA BELLO, UMAR SHUAIBU ORICHA and ABDULSALAMI HUDU sometime in 2021, in Abuja, within the jurisdiction of this Honorable Court, whilst having dominion over the state’s treasury, dishonestly used the total sum of N650,000,000 for the acquisition of a property known as No: 1058, Measuring about 1450.77sqm in Cadastral Zone A08, Wuse 2 also Known as NO.2 Durban Street Abuja.

“That YAHAYA ADOZA BELLO, UMAR SHUAIBU ORICHA and ABDULSALAMI HUDU sometime 2022, in Abuja, within the jurisdiction of this Honorable Court, whilst having dominion over the state’s treasury, dishonestly used the total sum of Five Million, Six Hundred and Ninety Eight Thousand, Eight Hundred and Eighty Eight Dirhams for the acquisition of a property located at Hotel Apartment Community: Burj Khalifa, lying, being and situate at Plot 160, Municipality NO 345-7562, Sky View Building No.401, Floor4, Dubai U.A.E.

“That YAHAYA ADOZA BELLO, UMAR SHUAIBU ORICHA and ABDULSALAMI HUDU sometime in 2016, in Abuja, within the jurisdiction of this Honorable Court, whilst having dominion over the state’s treasury, dishonestly used the total sum of N60,000,000 for the acquisition of a property known as Block 18 (337) flat B Gwelo Street, Wuse Zone 4, Abuja.

“That YAHAYA ADOZA BELLO, UMAR SHUAIBU ORICHA and ABDULSALAMI HUDU sometime in 2017, in Abuja, within the jurisdiction of this Honorable Court, whilst having dominion over the state’s treasury, dishonestly used the total sum of N310,443,450 to tastefully renovate a property known as No: 9 Benghazi Street, Wuse Zone 4, Abuja.

“That YAHAYA ADOZA BELLO, UMAR SHUAIBU ORICHA and ABDULSALAMI HUDU sometime in 2021, in Abuja, within the jurisdiction of this Honorable Court, whilst having dominion over the state’s treasury, dishonestly sent the total sum of $570,330.00 to account No. 4266644272 Domiciled with TD Bank, United State of America.


“That YAHAYA ADOZA BELLO, UMAR SHUAIBU ORICHA and ABDULSALAMI HUDU sometime in 2021, in Abuja, within the jurisdiction of this Honorable Court, whilst having dominion over the state’s treasury, dishonestly sent the total sum of $556,265.00 to account No. 4266644272 Domiciled with TD Bank, United State of America.

“That YAHAYA ADOZA BELLO sometime between 2017 and 2018, in Abuja, within the jurisdiction of this Honorable Court, had under your control the total sum of N677,848,000 unlawfully obtained from BESPOQUE BUSINESS SOLUTION LIMITED.”

Despite suffering a knockout loss in the fifth round of the IBF heavyweight showdown at Wembley on Saturday, former two-time heavyweight champion Anthony Joshua is set to earn significantly more than Daniel Dubois for the fight.

Reports from Sporty Salaries via GB News indicate that Anthony Joshua was guaranteed £6 million just for showing up, with potential earnings rising to an impressive £25 million depending on pay-per-view sales.

On the other hand, Dubois, who caused an upset by knocking out Joshua, is reported to have a guaranteed purse of £3.5 million, which could rise to £10 million.

The 34-year-old Joshua’s higher earnings are attributed to the attention and fan base he commands in the boxing world, despite the loss to his fellow Brit.

The fight reportedly drew a record crowd for a British boxing match, with Turki Alalshikh claiming an attendance of “more than 98,128” fans.

Following his fourth career defeat, Anthony Joshua took to his Instagram account to address his fans. In a video posted on Monday, he expressed gratitude to his supporters and emphasized his determination to continue fighting despite calls for his retirement.

He said, “We came up short, but we have got to look at all the positives, and that’s the mindset that we have to have—a positive one, always. Look at what we’ve achieved in the space of 11 years, and I want to thank everyone who’s been riding with me. What a rollercoaster journey! But you know what the problem is, is that it’s far from over yet.”

Meanwhile, Dubois’ victory has propelled him to the top of the heavyweight division, potentially setting up future fights with renowned boxers such as Tyson Fury and Oleksandr Usyk. Additionally, a rematch with Joshua is also a possibility.

Former Kogi State Governor, Yahaya Bello, has accused the Economic and Financial Crimes Commission (EFCC) of attempting to tarnish his image.

Bello, in a statement on Wednesday by his media team, said the EFCC is desperately trying to nail him in order to please some persons with interest in the case.

The statement, signed by the Director of the media team, Ohiare Michael, said the procedural errors and blunders already committed by the EFCC are enough evidence to prove the desperation of the anti-graft agency.

He said the EFCC, by its actions so far, has shown it is not fighting corruption, but rather executing a political vendetta against Bello.

Michael specifically questioned the disposition of the EFCC last Wednesday when the former governor voluntarily submitted himself to the agency but was not interrogated or detained after four hours, only for EFCC operatives to launch an attack on the Kogi Government Lodge at night.

He said, “If the EFCC was truly interested in prosecution and not a deal by some unknown persons to humiliate the former governor and probably harm him for political reasons, would the agency not have taken him in on that day with a view to arraigning him in court on the next adjourned date?

“Why turn a money laundering allegation into an embarrassment for the whole country ostensibly to massage the ego of some collaborators?

“We want Nigerians to help us ask: What exactly does the EFCC want from former Governor Yahaya Bello?”

“His Excellency, Alhaji Yahaya Bello, will have his day in court. No one is contesting this. But it will be in line with the rule of law, not as prescribed by the EFCC.”

Michael charged the EFCC to stop dragging the name of President Bola Tinubu in the mud and face its core mandate of fighting corruption.

“The interesting thing is that the more the Commission issues press statements under tension, the more glaring this assertion becomes.

“It is, however, sad that an agency as important as the EFCC has now degenerated to the level of crafting press statements in rogue styles to satisfy the hirers of the gun.

“Even if he is striving hard to keep his shirt by satisfying some supposed benefactors, like some have insinuated, the EFCC Chairman must be reminded that we are a member of the global village.

“What the Commission should be doing now is self re-appraisal with a view to repairing whatever is left of its battered image and not still dragging the name of our President, President Bola Ahmed Tinubu, in the mud with practices that are completely alien to the fight against corruption the world over,” he added.

The media office stated that Yahaya Bello is not afraid to appear in court but the law must be fully obeyed by the EFCC.

“We want to reiterate that former Governor Yahaya Bello has acted like a democrat by subscribing to the rule of law and by approaching competent courts of jurisdiction to protect him. He is never afraid of facing justice, hence his submission to the trials at various courts.

“The laws allow for representation and he has constantly been represented by his lawyers. As a Nigerian, he has the right to explore all avenues within the rule of law to protect his fundamental human rights. The EFCC cannot dictate to him, or anyone for that matter, how to go about this.

“Right now, it seems the only task before the EFCC is to execute a desperate hatchet job of destroying the former governor’s reputation and defaming him for no justifiable reason.

“But the EFCC must enlighten itself on the fact that former Governor Yahaya Bello remains innocent of the trumped up charges against him until proven guilty by a competent court of jurisdiction.

“As we write, many informed Nigerians, at home and abroad, cannot still understand why an anti-graft agency, which had declared the former governor wanted, would beg him to go after four hours, after voluntarily presenting himself at the EFCC office.

“The most disturbing aspect of the whole saga is that officials of the same EFCC that said the former governor could not be interrogated or detained because he came with a sitting Governor, went to the official lodge of the same sitting governor, while he was there, shooting sporadically, to forcefully arrest a man that had previously been in their office for over four hours!

“No matter how much the EFCC tries to call an albino a white man for Nigerians in this case, the truth is gradually being uncovered.

“Former Governor Yahaya Bello will fight to the end on the lane of constitutionality and will not succumb to the baits and traps of an Agency that has shown bias, contempt and a clear attempt on his life.

“We want to put it on record here again that former Governor Yahaya Bello is a respecter of the rule of law. He had, only all along, sought the enforcement of his fundamental human rights like any other citizen is entitled to.

“On the other hand, the EFCC, despite being a creation of the law, has demonstrated gross disrespect for the rule of law.

“This is evident in the agency’s bullying, oppressive and reprehensible tactics of disregarding valid orders in cases relating to perceived enemies of their “sponsors or paymasters” and choosing to obey orders when they concern those in the good books of their godfathers.

The statement further accused the EFCC Chairman, Ola Olukoyede, of using the office to fight a personal battle and, therefore, called on President Tinubu to investigate his actions.

“In this particular case, the EFCC Chairman, Ola Olukoyede, has shown clearly that he is either fighting a personal battle for reasons he must explain sooner than later or striving so hard to keep the trust of certain enemies of former Governor Yahaya Bello, who might have given him an assignment that he must execute at all costs.

“We sympathise with the Commission in this very trying time of a badly battered image, as Nigerians have become more aware that the so-called fight against corruption is not only selective, but also one that could damage the noble intentions of our dynamic President with respect to the all-important fight against corruption, and more importantly, the overall wellbeing of Nigerians.

“We call on Mr. President to please order a thorough investigation into the EFCC-former Governor Yahaya Bello face-off, since inception, with a view to unravelling the real motives of the persecutors.

“The chronology of events since April this year will reveal clear bias, intimidation, oppression, and total disregard for the rule of law by the Commission.

“We stress again that as of the time of the initial siege on the former Governor’s residence in April, the EFCC had no business there because he had a valid court order restraining such action, which had not been vacated. The Commission cannot also provide proof of a formal invitation to him.

“To set the records straight, the Court of Appeal only vacated that order a few weeks ago, which prompted our principal to present himself at the EFCC headquarters on September 18, even while still pursuing the enforcement of his fundamental human rights.

“If the EFCC was truly interested in prosecution and not a deal by some unknown persons to humiliate the former governor and probably harm him for political reasons, would the agency not have taken him in on that day with a view to arraigning him in court on the next adjourned date?

“In normal circumstances, the EFCC should not be the investigator and prosecutor at the same time. But the law allows it. It is, however, strange that the Commission has now assumed the position of the judge. We must remind them that this is Nigeria, and Nigeria belongs to all Nigerians.

“We implore the authorities to advise the EFCC Chairman to face his job as an investigator and refrain from allowing personal interests to continue to push him into avoidable blunders.

“The more the Commission issues controversial press statements on former Governor Yahaya Bello, the more the world is made to see the desperation to achieve an aim that is not clear yet. But the law is definitely stronger than their might.

“We salute the Kogi State House of Assembly for speaking up and we thank all Nigerians who have come to realize that there is more to this desperation by the EFCC to humiliate former Governor Yahaya Bello than they are telling the world,” the statement added.

The Human Rights Writers Association of Nigeria (HURIWA) has claimed that China could be taking over assets belonging to Nigeria.

The group gave the warning over an alleged Memorandum of Understanding, (MOU) signed between the Governor Peter Mbah-led government and Chinese companies.

They insisted that the MOU could lead to the seizure of Nigerian assets in the future if legal disputes over contentious land in Enugu are not properly resolved.

The rights group said it was deeply concerned that Mbah recently entered into agreements with some Chinese companies, allegedly giving away the ownership of ancestral lands in Ugwuaji Awkunanaw, despite ongoing litigation over the land.

Speaking via a statement signed by its National Coordinator, Comrade Emmanuel Onwubiko, HURIWA warned that the governor was undermining the rule of law by signing away the land to foreign companies while legal cases were still pending.

The statement read in part, “Chinese companies could seize Nigerian assets internationally, such as embassy buildings in Beijing, if the court rulings favor the original landowners.

“The Enugu State Government should refrain from taking action on these lands until the legal disputes are resolved.

“If the governor proceeds with this transaction, Nigeria could face another embarrassing situation similar to that in Ogun State, where foreign companies confiscated Nigerian assets.

“Enugu State does not have any assets abroad, so it will be Nigeria’s international assets that will be at risk.”

HURIWA called on the Federal Ministry of Foreign Affairs to clarify whether the Nigerian President was aware of the MOU signed by the Enugu State Government with Chinese companies

The Independent National Electoral Commission (INEC) has officially presented the certificate of return to the All Progressives Congress (APC) candidate, Monday Okpebholo, following his victory in the Edo State governorship election.

The presentation took place at the INEC headquarters in Abuja on Thursday, solidifying Okpebholo’s position as the elected governor.

Okpebholo emerged victorious in the election held on September 21, where he secured a total of 291,667 votes, defeating his closest rival, Asue Ighodalo of the Peoples Democratic Party (PDP), who garnered 247,274 votes. Olumide Akpata of the Labour Party (LP) trailed in third place with 22,763 votes.

In this election, Okpebholo’s APC party made significant gains, winning in over 10 of the 18 local government areas, while the PDP managed to claim marginal victories in the remaining councils.

Notably, the APC dominated in two of the three critical senatorial districts within the state, reflecting a decisive shift in the political landscape of Edo.

Meanwhile, the PDP has rejected the results of the recent Edo State Governorship election, as declared by the INEC.

During a media briefing in Abuja on Monday, the Acting National Chairman of the PDP, Amb. Umar Damagum, expressed his party’s dissatisfaction with the outcome, asserting that the people of Edo State rightfully voted for the PDP’s candidate, Dr. Asue Ighodalo, and expect him to be announced as the governor-elect.

Justice Emeka Nwite of the Federal High Court in Abuja has postponed hearing on the money laundering case brought by the Economic and Financial Crimes Commission (EFCC) against the immediate former Governor of Kogi State, Yahaya Bello.

Naija News reports that Nwite picked October 30, 2024, for the next sitting on the suit.

This comes after Bello approached the Supreme Court to file an appeal aimed at overturning the arrest warrant issued by the trial court on April 17.

During the proceedings, Bello’s attorney, A.M. Adoyi, highlighted that the matter of the defendant’s arraignment is currently under appeal at the Supreme Court. He expressed the desire to bring the court’s attention to the appeal, referencing an affidavit of record submitted on September 23.

Adoyi further stated that it would be prudent to await the Supreme Court’s ruling on the pending appeal before proceeding with the arraignment to avoid nullifying the appellant’s appeal or undermining the authority of the Supreme Court.

In contrast, Kemi Pinheiro, counsel for the EFCC and a Senior Advocate of Nigeria, contended that the defence attorneys were treating the court as a venue for entertainment.

He noted that an appeal filed by the defendant regarding the method of service of the charges and the evidence presented to their counsel was dismissed by the Court of Appeal on August 28 of this year.

“The appellant shall not take any further step until he submits himself. But they took another step,” Pinheiro noted.

In opposing the Defendant’s applications, Pinheiro said, “they had three applications on this – two before your Lordship and one before the Supreme Court. I will now urge your Lordship to demonstrate audacity of coercive power on him.”

On the other hand, Counsel for Bello contended that the matter scheduled for today (Wednesday), specifically the arraignment, is currently under appeal at the Supreme Court by the defendant.

He requested that the court defer its proceedings until the Supreme Court renders its decision, emphasizing the importance of justice in this context.

Justice Emeka Nwite acknowledged the arguments put forth by the counsel and indicated that he would need to address the issues raised in due course.

He announced that he would adjourn the proceedings to deliberate on the matter.

Consequently, he set the next hearing for the 30th of October for both ruling and arraignment.

Last week, the former governor stated that he had complied with the Commission’s invitation, accompanied by Kogi State Governor Usman Ododo, but claimed he was neither interrogated nor detained. The Commission, however, countered this assertion, maintaining that he remains a wanted individual.

The EFCC subsequently attempted to apprehend the ex-governor by surrounding the Kogi Government Lodge in Abuja during the night of Wednesday last week, but the effort was unsuccessful.

Wednesday, 25 September 2024 12:30

CBN Not Doing What'll Grow Economy – Idika Kalu

An economist, Idika Kalu, has said the Central Bank of Nigeria (CBN) knows the right policies to take to grow the country’s economy, but they are not doing it.
Idika Kalu stated this while speaking in an interview with Arise TV on the new interest rate raised by CBN, on Tuesday.


He noted that raising interest rates and, at the same time, removing subsidies that could help the citizens was wrong policy. He argued that Nigeria’s economy cannot grow with such a policy.

Kalu said, “You see, in governance, you can’t remove subsidy for the poor and at the same time increase taxes and interest rate. You don’t do that. So if you have high interest rates and have high taxes, you can’t build an economy by that means. What builds an economy is production. And the Central Bank knows that it has policies that it can tweak to get the economy on a productive trajectory.”

Speaking on what policies the CBN can take to grow the economy, Kalu continued, “First, you have the stock of money supply. They can manipulate that. The interest rate, that is what they are doing and they have been doing for over 20 years. You have volume of credit. You have management of the exchange rate. And you have what we call final expenditure. That is like mentioned ways and means of the Central Bank. You see, what the nation is suffering from is that we are not productive. And government has policies, economic policies, that should, I mean, for people in authority, that’s what should interest them.

“One, the first is your economic development policy. That’s very important. Price stability is the second policy. Then you have healthy balance of payments. You have creating employment opportunities. And of course, the development of the financial institutions. These are key policies of government.”

The Managing Director of GABS Financial Services explained that the current economic and monetary policies of CBN were responsible for no low growth in sectors of the economy.

“So whether it is the monetary authorities or the fiscal authorities, they should address these problems. So economic growth and development, there are two things. Economic growth is that maybe a sector is contributing to national income.

“But when you talk of economic development, it means the various sectors in the economy are simultaneously contributing to national income, housing, education, transport, health, all contributing. And that is what builds standard of living of individuals. And we are not doing that. We only have maybe the oil. Manufacturing sector is comatose. Nothing is happening. The agric sector, nothing is happening,” Kalu stated.

Speaking on how the capital market would react to CBN’s new interest rate, he explained that “there is an inverse relationship between interest rates and bond or stock market prices.

“So when interest rate goes up, stock market prices come down. And so before you take such sensitive decisions, you should know the implication or the ripple effect in other sectors like the capital market. It is the capital market that really builds a nation because they can mobilize long-dated funds for economic development.”

The All Progressives Congress (APC) has described the 2023 presidential candidate of the Labour Party, Peter Obi, as a serial complainer.

The National Publicity Secretary of the APC, Felix Morka, said Peter Obi cannot agree with the result of any election he loses or his supporters lose.

Morka, in an interview, on Tuesday, with Arise TV, explained that the Edo governorship election was free and fair.

“Now, first of all, Peter Obi is obviously, I think everyone who bothers with Nigeria’s politics knows that Peter Obi is a serial complainer. He will not accept the result of any election that is not in his favor or in favor of candidates that he supports. He has done that.

“Since the 2003 election, Peter Obi has been a consistent denial of that election and now he has a new pet project to deny the Edo election. We don’t reckon with Peter Obi because he wasn’t a candidate in Edo and he was not a voter. So whatever he thinks of that election is absolutely irrelevant. He can speak what he wants, that’s up to him,” he said.

Speaking on possible court case against the Edo governorship election result by the Peoples Democratic Party (PDP) and Labour Party (LP) governorship candidates, Asue Ighodalo and Olumide Akpata respectively, the APC spokesman stated that the party and its candidate, Governo-elect, Monday Okpebholo, are okay with the decision.

Morka argued that the two candidates have yet to prove there was manipulation of the election results in favour of the APC candidate.

“About those who were contestants in the election, I think that Olimude Akpata and Asue Ighodalo, they have legitimate interests in that election. So if they are not satisfied with the outcome of that election, they must do what they must do, which is to take this matter to court and go there to prove the allegations that they are bandying around right now because that’s what they are doing. They are simply throwing a lot of things, unsubstantiated allegations.

“When an election is done, psychologically people are wounded because you went into it to win. So when you don’t win, understandably you can be sore. But I think that I have not listened to any of them articulate or furnish any sort of reasonable evidence of all of the high sounding allegations that they make and it’s not enough to throw those things out there.

“When you get to court, it’s not about the headlines. You must break down the headlines into credible, realistic evidence before the courts to support your argument that you won the election or that there was some foul play or some manipulation as they allege. So we’re not bothered by that. When they go to court, we will of course meet them in court and also present our side of the story and that’s the beauty of democracy. He who alleges must prove,” Morka added.