Comedian and actor Akunyota Akpobome, popularly known as Alibaba, has warned artistes against compromising their values for success in the music industry.

Speaking on Channels Television’s Sunrise Daily on Friday, Ali Baba bemoaned aspiring artistes now taking to occult practices prior to getting signed by a record label.

He claimed there is a strong desire to become successful that has led some artistes to compromising the values they have been brought up with.

“For me, there are some things that you would not want to do, and you must stick with it. It is the same thing with some of these artists, some of them do rituals now.

“As an artiste, you must define your purpose, you must hold on to some strong values you’ve been brought up with.

“If you are someone who is in a position with your creative abilities, you don’t need that kind of pressure. You don’t need somebody making you sign or take an oath for you to be creative.”

“People just want to blow; they want to be seen, they want to be heard, they want to make money, they want to belong. And because of that, they step back from the values they have been brought up with and do what they shouldn’t do.”

Alibaba stated that certain artistes are surviving and thriving despite the pressures of the entertainment industry.

“They don’t smoke, they don’t hold cigars, they don’t hold the glass cup and drink whiskey in their [music videos], and they insist on it,” he said.

“Even if the choreography says it would add colour to the video, they would say no.”

AliBaba’s remarks come following increasing public outrage over the allegations of abuse suffered by the late 27-year-old singer Ilerioluwa Olademeji, also known as Mohbad, prior to his demise on September 12.

 “There has not been a single area that had not been touched by the Buhari government. We have seen massive positive changes in the last eight years..Bullies who attacked governments and ‘something dropped’ will continue to antagonize Buhari borne of anger from lost opportunities. A certain Buhari “critic” who served a military governor in one of the Northern states, even his underwear was bought from government coffers”.

“When they came in they freed thieves, robbers and receivers of stolen goods and even gave them a working capital! “Within a few weeks, crime returned to Kaduna, and yes, the other places and he has the effrontery to speak as he did…How many of these people do you think were happy when President Buhari said “no more free money. Buhari said money in National Security Agencies is for security. Lazy men and women who can’t work cannot just walk in and walk out of that place with bags stuffed with money in a free-for-all..These ones have nothing to teach anyone. President Tinubu, a wise politician will equally see through their masquerade”- Garba Shehu 

Hello, Mr. Shehu, here is a reality check. This is precisely what President Bola Ahmed Tinubu thinks of your principal “After Darkness Comes The Glorious Dawn: Full Text Of President Tinubu’s Address To Nigerians. I assure you my fellow country men and women that we are exiting the darkness to enter a new and glorious dawn”. Should the president expect the Abubakar Umar treatment from you?

It was a bad idea, to begin with. Unless it was intended as a deliberate lapse into vulgar, uncouth and gutter snipe sensationalism. It could also mean a demonstration of the trademark incompetence for which Buhari was notorious, even in joining issues with critics. It is difficult to understand why a supposedly well meaning subordinate will set up his principal as a strawman (fit for demolition), by crediting him with qualities he abundantly possesses in the breach. Knowing fully well that the former President is a parody of such citations like “We have seen massive positive changes in the last eight years…no more free money. Lazy men and women who can’t work cannot just walk in and walk out of that place with bags stuffed with money in a free-for-all”. 

Really? So what was the reign of Tunde Sabiu Maman Daura and co, all about? Reminiscent of Buhari’s disastrous governance 

is the penchant for doubling down on the fantasy of alternate reality.

Responding to the annual report of Transparency International,TI, on it’s Corruption Perception Index, CPI, (which had truthfully and objectively adjudged Nigeria as sinking deeper in the cesspit of corruption), Garba Shehu argued “I’ll tell you that this one by TI is not a judgement on Buhari or his administration or its war against corruption, I will tell you that this one is judgement on Nigerians.” In anticipation of such tendentious self denials, the agency had clarified that its CPI ‘ranks countries and territories based on how corrupt their public sector is perceived to be’. 

Let me speak of what I am personally privy to about their putative foe, Abubakar Dangiwa Umar. From 1999 to 2015, there has been no federal government that did not invite Umar to serve in one strategic capacity or another. I was at the dinner table where President Olusegun Obasanjo invited him to Ota to discuss the offer of a ministerial appointment. If memory serves me right, Umar demurred, and said something about not having the temperament for public appointment in Nigeria, that he was a nonconformist. Not one to easily give up, Obasanjo responded that this was precisely the kind of quality he wanted in his ministers. This encounter took place after the 2003 presidential election. Subsequently, Presidents Umaru Yar’adua and Goodluck Jonathan extended similar offers to him, all of which he declined. 

At the level of theory, if you were a public spirited Nigerian President, would you not want Umar to be associated with your government? It is on record that he had no qualms turning his back on a choice posting (as military governor of Kaduna state that others would give an arm and a leg for), to pursue further education and enlightenment at the University of Harvard. It was the same idealism that prompted him to initiate a ‘military coup’ in a suicidal mission to install the winner of the 1993 presidential election, Chief Moshood Abiola as duly elected President of Nigeria. It beats the imagination hollow, how the same personality can be distorted as a typical incontinent low life and notorious time server.

I think the occasion has come for us to breach confidentiality and 

disclose a sinister experience Umar had under the Buhari dispensation. On a flight to London, he had entrusted the check-in of his luggage to an immigration officer. On arrival at Heathrow Airport, border security officials invaded the plane to apprehend and whisk him away. Getting to the interrogation room, he found his luggage had been impounded. His attention was drawn to the cover of his suitcase which was laden with a powdery stuff, that turned out to be cocaine. The mystery deepened when the search of the inside compartment of the box failed to yield any trace of the substance. After subjecting him to all manners of indignities reserved for drug traffickers he was let go. Someone in Abuja had set him up. The incident occurred about five years ago. He had kept the horrific experience to himself but in a typical protective attitude, he had taken me to confidence and warned me to avoid the need to check in my luggage whenever I’m travelling. 

No one has framed national governance as primarily an avenue of tribal nepotism and corruption as Buhari did. l have not come to the conclusion, one way or another (whether Bola Ahmed Tinubu’s presidency is following in his predecessor’s ultra parochial footsteps). Nonetheless, there appears to have developed a muted regional (Islamic North) angst against the president, in respect of how he has constituted his apex political and administrative appointments. Not one to pass over the chance for scurrilous notoriety, Ishaq Akintola and his muric confederates had whined “We remind President Bola Ahmed Tinubu that all regions, faiths and sections deserve political appointments…The Tinubu administration must not be the exclusive preserve of the Yorubas at the expense of other tribes, nor the monopoly of Rome at the expense of Madinah. No region must be sentenced to hunger, starvation and political isolation”. 

The appointments are said to be Yoruba heavy and other regions light. Some years ago, projecting from the unsurpassed nepotism of General Muhammadu Buhari, l had warned that efforts by his successors to restore and reinstate equity and fairness in federal appointments, will have the appearance of marginalising the North. Such was the magnitude of the political segregation that Buhari visited on Nigeria. In its penchant for divisive discrimination, the Buhari government exemplifies the logic of why Nigeria should not be a nation. Or that if it must remain a country, the prescription of federalism (devolution and decentralisation) is the irreducible minimum. He brought to vivid reality the dysfunction and damage that over centralisation of powers can wreak on Nigeria by a President of his specification.

Suggestive of detachment from reality, Buhari, no doubt, entertains a delusion of grandeur in grading his presidency. Afterall, no amount of veracity could dissuade him from peddling the egregious lie that the average price per barrel of crude oil from 1999 to 2015, was one hundred dollars. He would even swear on the authority of the central bank governor and the group managing director of the Nigeria national petroleum corporation, NNPC to bear him witness. 

In a left handed salute, one of the useful purposes the Buhari failure has served is the vindication of his successor as military head of state, President Ibrahim Babangida. The military president had been a victim of the Buhari myth, of the

interpretation of his ouster of Buhari as tantamount to depriving Nigeria of a potential messiah. A similar set of victims are those Nigerians who fell for this myth and accordingly voted him to power in 2015. Rarely in history has there been a president who employed the totality of his tenure to destroy the mistaken notion of him as a man of integrity and why he should never have been elected president in the first place. After eight horrid years of ruin and plunder, we now precisely understand why the late General Sani Abacha remains a role model for Buhari. 

In retrospect, it now appears that the difference between truth and falsehood, between honesty and dishonesty, between integrity and lack of character is the difference between the man Nigerians thought they elected in 2015 and the Buhari of the past eight years. Prior to 2015, he enjoyed national and international acclaim as an anti-corruption crusader. At the time, this seemed a fair albeit generous assessment. Eight years of his presidency to the bargain, the man had launched a grenade to explode the myth of his abstemious frugality. Never call a man great until the end of his life, cautions the bard. 

Former governor and former minister of aviation, Isa Yuguda, may not have had Buhari in mind when he went public with his committee report on the Nigerian national petroleum corporation, NNPC. Inter alia he said “I am sad to let Nigerians know what I saw; we came across situations where subsidy was claimed on pipelines that never existed.., they just fill papers, invoices and they claim subsidy on it” When asked again if it was indeed the NNPC that was making these claims, Yuguda replied in the affirmative. “Who else is doing it,”. Yet, Buhari was the minister of petroleum. 

Days to drawing the curtains on his presidency, and so we would have no difficulty remembering the kind of president he was, Buhari committed Nigeria to the payment of a dubious and spurious judgement debts “The president said the judgement debts were awarded in different currencies which he summed up to $556,712,584,01; £98,526,013 and N226,280,801,801,64.

In view of the forgoing, I request the Senate to kindly consider and approve through its resolution, the settlement of the total judgement debts and general judgements incurred by the following MDS in the sum of USD five hundred and sixty six million, seven hundred and twelve thousand , five hundred and eighty four dollars , thirty one cent”.

The Vice President, Senator Kashim Shettima, has called for effective collaboration and harmony with the leadership of the 10th National Assembly to address all issues confronting the country.

Shettima said without effective collaboration it would be difficult for the country to surmount her economic and political problems.

The Vice President stated this on Friday while speaking during the 2-day Retreat for the leadership of the 10th National Assembly organised by the National Institute of Legislative and Democratic Studies in collaboration with Konrad – Adenauer-Stiftunh e. V, held at Four Point by Sheraton Hotel, Ikot Ekpene Local Government Area of Akwa Ibom State.

He said “Governance is a collective responsibility and not a personal endeavour. Our most significant achievement will be attained through cooperation and harmony. This is what we take from you because we are brothers and sisters in pursuit of a country that has all of us.

“For the first time in our history, all the elected heads of branches of our government are produced by the hallowed halls of the National Assembly. Let us come together for the common good of the nation. All the Chiefs of Staff and Deputy Chiefs of Staff to the President are all proud alumni members.

The First Lady of the Federation and the Secretary to the Federation are all members of the alumni.

“Certainly what this means is that we cannot afford to go to war, not because we are going to overlook each other’s transgressions but because we are going to engage with those who know the gravity of their work and will never take you for granted.

“Let us fight the stereotypes of our differences. The burden of managing a diverse nation has ensured that we cannot afford to trade the path of division

“The 10th National Assembly is unquestionably the richest we have had so far. You( National Assembly) have a president and vice president who was one of you and recognize the sacrifices you make.

“President Bola Ahmed Tinubu has reassured us with a heart of certainty that we are not in government to go to war with the National Assembly, we are here to collaborate and match towards shared prosperity.

“Our journey as a democratic nation has been marked by trials and triumphs, setbacks and progress, but through it all the National Assembly has remained steadfast in its commitment to our collective wellbeing.

“It is there within the Chambers that the voices of our diverse constituencies find their expression. While the aspirations of our people are transformed into legislative action, the foundation of our democracy is continuously fortified.

“The trajectory of global growth is facing Africa and Nigeria will make or mar that transition. By 2050, Nigeria will be the third most populous nation on earth. Our population will hit 440 million and we will surpass the United States of America, and the end of the century Nigeria will be the most populous nation on earth what are we going to do with the demographic growth?

“We can turn the demographic growth into demographic dividends. I believe, with the quality of leadership we have it will not turn into a demographic disaster that will consume all of us” the VP said.

The Senate President, Godswill Akpabio, in his remarks, said Nigeria cannot move forward unless the various stakeholders and groups see the need for effective Collaboration in the country.

He said it is an error to blame any political party for the challenges of the country, adding that the country is facing a collective action problem as relevant groups and stakeholders failed to collaborate.

According to him, my friends and colleagues, let us not make the mistake of thinking that our problem is APC or PDP or LP or SDP or any other party. That is an error.

“We face a collective action problem because relevant groups and stakeholders in our country fail to connect, cooperate and collaborate.

“But if we, the leadership of the Tenth National Assembly, can properly understand and effectively use collective action processes in the official conduct of business, we would achieve positive outcomes for our country’

“We can lead the charge in our country. Let us be united in purpose. It does not matter which political party you used to get to the Red or Green Chamber, right now we are in the Nigerian boat. If we all put our hands on deck, the Tenth Assembly shall surmount every challenge” Akpabio pointed out

While noting that the retreat would identify priority business for the Tenth National Assembly and develop strategic objectives for the Legislative Agenda of the respective chambers, Akpabio said it behooves the leadership of the 10th National Assembly to “set collective action templates for our nation’s developmental efforts and a collaborative legislative agenda for solving our nation’s challenges.

The Speaker, House of Representatives, Tajudeem Abbas expressed delight for the retreat, saying that it would create an opportunity for the legislators to contribute immensely to the attainment of the 8-point Agenda of President, Bola Tinubu.

Abbas urged his colleagues in both chambers to think first of the national development of the nation, emphasizing that all three arms of government must be in symphony to ensure that the current administration delivers on its promises to the people.

The host governor, Pst Umo Éno, who was represented by his deputy Senator Akon Ayakenyi, in his goodwill message appreciated the federal government’s bipartisan and inclusive approach to governance.

Earlier in his welcome address, the Director General of NILDA, Prof. Abubakar Sulaiman stated that the retreat was organised to reflect, learn, and strategise to collectively enhance the performance of the National Assembly.

Sulaiman stressed that the only way the President can achieve his lofty goals is to ensure that the necessary legislative frameworks support government actions.

I detest political cultism, which the Kwankwasiyya movement represents, and also resent Governor Abba Yusuf’s incipient governance by destructive vengeance, which saw him remorselessly destroying multimillion-naira buildings belonging to political opponents in his first few weeks in power, but the verdict that overturned his victory strikes me as deficient in both legal and logical merit.

APC appears intent to get back through judicial manipulation what it lost through the ballot box. It’s a higher-order, more sophisticated, and less primitive version of the broad-day electoral heist they perpetrated in 2019 after former Governor Abdullahi “Gandollar” Ganduje lost to the same Abba Yusuf. INEC was manipulated to declare the election as “inconclusive,” even though APC unambiguously lost it. It bears no recounting what happened thereafter.

The single-minded, concentrated, unstoppable political steamroller that Rabiu Musa Kwankwaso unleashed in this year’s governorship election in Kano was simply too overpowering for Ganduje and Nasir Gawuna to withstand. 

As I argued in my April 01, 2023, column titled “Between Obi and Kwankwaso, Who's the ‘Local Champion’ Now?” Kwankwaso didn’t run for president to win it. He did so to “leverage his presidential run to help his son-in-law get elected as governor of Kano State. And he achieved his goal.” He obviously learned from 2019 and was prepared for 2023.

 It is significant that APC didn’t even claim to have won the majority or plurality of the votes cast during the governorship election in Kano this year. It merely invoked a welter of issues that are extraneous to the vote, which are balanced on a dubiously slender thread of legal evidence, to ask for the reversal of NNPP’s victory.

Three points constitute the nucleus of APC’s judicial challenge to the NNPP’s victory at the tribunal: that NNPP’s Abba Yusuf wasn’t a registered member of the party on whose platform he ran; that the Electoral Act was violated through “over-voting,” violence, and disenfranchisement; and that 165,663 votes for NNPP in Tarauni, a Kano local government, were invalid because they lacked INEC’s markers of authenticity, i.e., stamps, signatures, and dates. 

Invalidating 165,663 votes out of NNPP’s 1,019,602 votes while leaving APC’s 890,705 votes untouched handed a dubious victory to APC by default.

It's easy to see how APC’s victory at the tribunal will crumble like a paper bag upon appeal. First, membership of a political party is an internal matter that non-party members have no legal right to be concerned about. 

In its response to APC’s challenge of Peter Obi’s qualification to run for president on the platform of Labour Party because he was not a registered member of the party as of April 30, 2022, when the party turned in its membership register to INEC, the Presidential Elections Petitions Tribunal ruled that, “The issue of membership of a political party is an internal party affair.” It dismissed APC’s challenge on the basis of this.

A May 26 Supreme Court ruling also says rival parties have no right to question the validity of the internal decisions made by other parties unless they can prove that they suffered demonstrable harm as a result of the internal decisions another party took. So, the Kano governorship election tribunal’s verdict on this issue will be as dead as a dodo upon appeal.

The tribunal disproportionately placed the burden of the violation of the Electoral Act, evidenced in “over-voting,” violence, disenfranchisement, etc. on the NNPP even though, as we all know, both parties were guilty of it. APC deployed its power of incumbency during the election to intimidate and overawe opponents, and to visit violence on people who resisted them. NNPP wasn’t innocent, of course. Kwankwasiyya mobs, wherever they were dominant, also put the screws on opponents.

There was no innocent party when it came to the violation of the Electoral Act. In fact, if the standard established by the Kano Governorship Election Tribunal were to be applied to all elections in the country there would be no valid election anywhere. Enduring systemic dysfunctions and our all-too-familiar disposition to game or attempt to game the system will always result in violations of well-intentioned laws by all parties. So, that judgement was neither here nor there, in my opinion.

Perhaps the stickiest, most indefensible, and least logical of the tribunal’s verdict was its arbitrary nullification of NNPP’s 165,663 votes on account of ballot papers lacking symbolic indicators of legitimacy from INEC. 

First, why is NNPP the only party whose votes were overturned on this account when it’s obvious that all parties that partook in the election, including APC, also had votes that weren’t stamped or signed? The blame for this partly goes to NNPP, which was so overconfident of its triumph that it didn’t prepare a robust rebuttal. I heard it presented only one witness and didn’t expend any efforts to expose APC’s own manipulations. 

 Second, as Bello Galadi, a past Chairman of the Nigerian Bar Association in Zamfara State, pointed out, Section 63(2) of the Electoral Act doesn’t support the tribunal’s ruling. “If the Returning Officer is satisfied that a ballot paper which does not bear the official mark was from a book of ballot papers which was furnished to the Presiding Officer of the Polling Unit in which the vote was cast for use at the election in question, he or she shall, notwithstanding the absence of the official mark, count that ballot paper,” the Electoral Act says.

In other words, INEC signatures and stamps are merely symbolic; they are not mandatory stamps of validity. If all the parties involved in an electoral contest are united in affirming the genuineness of ballot papers in spite of the ballot papers lacking INEC’s symbols of validity, they are lawful. Apparently, on election day, neither APC nor its agents questioned the validity of the votes the tribunal has overturned. So why whine after the fact?

“Where were the APC’s Polling Agents when the ballot papers were being sorted?” Galadi asks. “How did they allow unauthenticated ballot papers to be counted in the first place? Where were… INEC’s officers when the unauthenticated ballot papers were allegedly being smuggled into the boxes?” 

Galadi also argued that the number of votes the tribunal nullified is greater than the number of votes by which NNPP defeated APC, which by law requires the tribunal to at worst declare the election “inconclusive” and order a re-run. 

I think predicting the collapse of APC’s governorship tribunal victory upon appeal is a slam dunk because it can’t survive the crucible of serious legal challenge. It seems like a politically motivated verdict, such as the verdict that overturned Adeleke’s election, that has zero chance of surviving an appeal.

No one can predict the Court of Appeals or the Supreme Court, especially this Supreme Court, but if justice and fair play still matter, I have no doubt that NNPP’s victory will be affirmed. Of course, the party has to shake off its smug, unjustified overconfidence and not only defend its mandate but also show that APC received hundreds of thousands of votes that are similar to the NNPP votes that the tribunal canceled.

After its expected victory, though, NNPP’s Abba Yusuf and his benefactor Rabiu Kwankwaso need to rule with grace and maturity, not vengeance and infantilism. Destroying buildings is no governance. Plotting the dethronement of monarchs that didn’t support you is a page from Ganduje’s sordid playbook. They need to be different. Success, they say, is the best revenge.

Re: PEPT’s Verdict and the Task Before the Supreme Court

My name is Aikhunegbe Anthony Malik. I am a Senior Advocate of Nigeria. I always enjoy and indeed look forward to reading your interventions. Well done, sir.

Typical of your write-ups, this one on the PEPT's verdict is very incisive. May your pen never run dry, sir. 

Permit me, however, to observe that the Federal High Court [Port Harcourt Division] decision concerning the eligibility of Tonye Cole to contest the Rivers governorship election [on account of his dual citizenship] was upturned or set aside, rightly so, by the Court of Appeal in Appeal No. CA/PH/584/2022; Tonye Patrick Cole vs. Peoples Democratic Party & Ors.], per Ikyegh, JCA, in a judgment delivered on January 20, 2023.

Aikhunegbe Anthony Malik, SAN

Operatives of the Joint Task Force, Operation Hadarin-Daji, have rescued six female students of Federal University, Gusau, Zamfara, abducted in the early hours of Friday.

Force Information Officer, Operation Hadarin-Daji, Cpt. Ibrahim Yahaya confirmed this to the newsmen via telephone on Friday in Gusau.

Recall that 24 female students had been abducted from their rented hostels at Sabon-Gida, a few metres away from the university.

Yahaya said the troops pursued the abductors who took the students, mostly females, to the forest.

He said that the troops engaged the abductors in a gun duel, supported by the Nigerian Air Force (NAF) air component, and rescued six students.

Yahaya further stated that several bandits were neutralised during the rescue effort, which, he said, was still ongoing.

“The troops also recovered one AK-47, a magazine, four motorcycles and one communication gadget from the terrorists,” the officer said.

Efforts to speak with the school authorities on the incident proved abortive, as the institution’s Spokesperson, Umar Usman, did not respond to several calls put through to him.(NAN)

The Minister of Power, Adebayo Adelabu, has stated that likely sabotage by some electricity workers caused a fire outbreak that destroyed three transformers worth $4 million at the sub-regional switchyard of the Transmission Company of Nigeria (TCN) in Birnin-Kebbi, Kebbi State.

This comes as he warned electricity staff against vandalizing the national grid while embarking on industrial action.

Adelabu, who inspected the TCN in Osogbo, Osun State, on Friday, also lamented that during the last warning strike organized by the Nigeria Labour Congress (NLC), the national grid was attacked.

He issued a stern warning to electricity staff against the destruction of the national grid, noting that perpetrators would face the full force of the law.

“No matter what the circumstances are, nothing must push us to deliberately destroy these assets of national grid. I’m not against industrial actions, it is part of labour relations but when we are doing it, we must be conscious of what is our collective asset. Industrial actions will be resolved whether we like it or not but in the course of the action, what have we destroyed? Vandalising assets in the control centre is an economic crime that must be so treated. We need to talk to ourselves,” he said.

Speaking about inferno at Birnin-Kebbi, he said, “The fire outbreak in Kebbi, people are saying it’s sabotage, I’m not going to conclude it’s sabotage but it looks like it. How can three transformers catch fire simultaneously?

“We have set up a high-level investigation panel to see what led to that fire outbreak and I can assure you that if any of our staff is found wanting, such staff will face the wrath of the law. The person(s) will be severely dealt with, not because we derive joy in dealing with someone but to serve as a deterrent to others. What I want to adopt during my time here is a carrot and stick. If you perform well, we will reward and motivate you to do more but if you abandon your duty place or perform an act of sabotage, you will also face the law.

“The entire sector requires a lot of investment. Nigeria’s budget cannot be enough for all that we need which is why we are thanking our various partners. We have partners who are also supporting us and we cannot afford to disappoint them because they are putting down money and they want to see what we are doing. It takes us to the protection of these assets. These are national assets and they are precious assets to all of us. Nothing must happen to them because if you destroy these assets, it is an act of economic sabotage. It is also a threat to national security and this has to be legislated.”

Adelabu further disclosed, “We have written to the National Security Adviser (NSA) to strengthen our security around our establishment across the country so that what happened in Kebbi will not repeat itself elsewhere. I want to assure you that going forward, we are not going to experience such breakdown in our national grid.”

FORMER Bayern Munich manager Julian Nagelsmann has been appointed as the new head coach of Germany.

The German football federation (DFB) announced the appointment today as Nagelsmann replaces Hansi Flick, incidentally the same man he took over from at Bayern Munich in 2021.

“Julian Nagelsmann is the new head coach of the Germany men’s national team and will be in charge for next summer’s European Championship,” the DFB announced today.

“The 36-year-old put pen to paper on a contract running until 31st July 2024 at the DFB-Campus in Frankfurt today. At a general meeting, the supervisory board of the DFB GmbH & Co. KG unanimously accepted the proposal from DFB president Bernd Neuendorf and sporting director Rudi Völler to select Nagelsmann as the 12th head coach in the association’s history.

“Nagelsmann will be the successor to Hansi Flick, who was relieved of his coaching duties on 10th September. Two days later, Rudi Völler, alongside DFB coaches Hannes Wolf and Sandro Wagner, oversaw a 2-1 friendly win in Dortmund against World Cup runners-up, France.”

The German federation noted that Wagner will remain as one of Nagelsmann’s assistants, along with Benjamin Glück, who was part of Nagelsmann’s coaching staff at TSG Hoffenheim, RB Leipzig and Bayern.

Germany had a torrid spell under Flick, who had led Bayern to the UEFA Champions League title in 2020, the four-time world champions getting eliminated at the group stages of the Qatar 2022 World Cup.

After a string of friendly losses in preparation for Germany hosting the 2024 European Championships, Flick was sacked this month, and Nagelsmann has promised to restored the team’s pride.

“We are hosting the European Championships. This is something special, and only happens every hundred years or so,” the new coach said.

“Having a strong tournament at home is the priority. I’m very much looking forward to taking up this challenge. The game in Dortmund was just the beginning. We will become a tight-knit unit over the next year.”

Bernd Neuendorf, DFB president, added: “Next year’s European Championship is extremely significant for football in Germany. We are convinced that with Julian Nagelsmann as our head coach, the national team will be able to excite the fans and play a successful tournament. Julian Nagelsmann is an exceptional coach, who is extremely motivated for this new challenge. We will now shift our focus to next summer’s tournament and give Julian Nagelsmann our full support.”

Nagelsmann’s first matches in charge will take place during a United States of America tour during the next international break.

Germany will first face the USA on October 14 in Hartford, Connecticut and three days later take on Gold Cup champions Mexico in Philadelphia.

The team’s final match of 2023 will take place on November 21 against Austria in Vienna.

[NaijaTimes]

Our beloved country Nigeria, a nation in dire strait, wombling and fumbling at 63 in a critical moment; Nigerians are hungry and angry. Hunger is in the land…we are living dangerously on a keg of gunpowder, driving more people into poverty through unfriendly policies poorly and thoughtlessly implemented or bad policies and no policy at all. Nigeria is at a precipice; its future is at stake. Conversely, the need to pull Nigeria from the precipice of economic decline, disunity, internal insecurity, social insecurity, and ultimate disintegration has become imperative. 

Therefore, there is a need for cautious optimism about phantom accomplishments. 

To many Nigerians, especially the hapless citizens of the country, the previous administrations of Olusegun Obasanjo, Goodluck Jonathan, and Muhammadu Buhari actually were a metaphor for misery and frustration, especially in their economic life and that of the country. It was a period of locust swarm when hunger became a native in many homes and unemployment became another national flag. The million-dollar question is; can we, as a nation, survive another round of ineptitude, incompetence, nepotism, cronyism, and corrupt tendencies typically characterised by poor governance and bad leadership over the recent past two decades? The answer is rooted in the ability of the present leadership to be different from the previous maladministration, nepotism, cronyism, and ineptitude.

Before I continue, I would like to share with us the profound words of  Chief Chukwuemeka Odumegwu Ojukwu, a Nigerian military officer and politician who served as President of the Republic of Biafra from 1967 to 1970 during the Nigerian Civil War. Emeka Ojukwu, in a tribute, described Chief Obafemi Jeremiah Oyeniyi Awolowo, a Nigerian nationalist, and statesman who played a key role in Nigeria’s independence movement (1957-1960), as the “Best President Nigeria never had”. This is a mind-blowing testimony of good leadership in the black continent of Africa.

Additionally, Emeka Ojukwu, posited that in political terms, he would be considered an adversary of the Igbo given the intense rivalry between him and Dr Nnamdi Azikiwe. As a leader of the modern cast, he has left Nigeria standards which are indelible, standards beside which future aspirations to public leadership can be eternally measured. He was, for a long time, the only Nigerian leader who enunciated principles and played down personalities. He was a brilliant political administrator and a most erudite teacher. 

“He not only identified himself wholly with the aspirations of the Yoruba people of Nigeria but also he was able to convince the Yoruba people of Nigeria that he, only he epitomized the highest point of their political aspirations and consciousness. He was loved, he was feared but above all he belonged to the people he professed to lead. At his death I had the singular honour of proposing for him this epitaph that has endured – ‘he was the best President that Nigeria never had.’ Many have wondered what I meant by this, but I believe the statement was clear. 

“Nigeria would have benefitted from his presidency because of his innate presidential qualities. Nigeria must continually regret that he never, for many reasons, had the opportunity to serve at the presidential level. Awo was a leader of great stature. He was a leader who was eminently successful. That he did not fulfill a presidential ambition cannot detract from his leadership, and us, poor us, who were not his people, must continue to regret that our own leaders had not led us as he did his people or achieved for us as he did for his people. 

“He perceived his job as leading his people and God bless his soul. He did a lot for them. Whenever he saw an opportunity for his people, he went for it. He had a dream for the Yorubas and was steadfast in the pursuit of that dream. He knew where he was going and he took his people with him without deceit. That is why he will remain immortal in the area of his influence.” Put differently, the prognosis underpinned the essence of selfless leadership in a critical moment as we forward march in equanimity.

I am aware, for example, that millions of our citizens are groaning and going through the toughest time. Some even describe our campaign mantra “Renewed Hope” as “Renewed Shegee” meaning the continuation of the unholy era of the Muhammadu Buhari style and its predecessors – shameful abuse of privileges characterized by squandering of riches and plundering of resources. Our democracy, a presidential system of government fell short of the acceptable global standard by which the Judiciary, Legislative, and Executive arms enjoyed independence without encroachment from either side. This is the sad reality of our beloved country Nigeria – when are we going to be blessed with the next sets Awo, Zik of Africa, Balewa and the great MKO? Or is it going to be Jerry Rawlings and Thomas Sankara before we get it right?

In conclusion, permit me to encourage us with the biblical definition of assurance: Exodus 6: 5-7 (NIV)

Moreover, I have heard the groaning of the Israelites, whom the Egyptians are enslaving, and I have remembered my covenant. Therefore, say to the Israelites: “I am the Lord, and I will bring you out from under the yoke of the Egyptians. I will free you from being slaves to them, and I will redeem you with an outstretched arm and with mighty acts of judgment. I will take you as my own people, and I will be your God. Then you will know that I am the Lord your God, who brought you out from under the yoke of the Egyptians”.

Richard Odusanya

A host of prominent Nigerians have been affected by the decision of the Minister of the Federal Capital Territory (FCT), Nyesom Wike to revoke the ownership of some lands in Abuja, the nation’s capital city.

Naija News understands a total of 165 lands were affected by the revocation order given by Wike.

The revocation was due to the violation and contravention of the terms of development of the Right of Occupancy according to a document signed by the FCT Permanent Secretary, Olushade Adeshola.

According to a report monitored on The Nation, some of the notable Nigerians affected by the revocation order include former Senate Chief Whip, Udoma Udo Udoma; former Cross River Governor, Senator Liyel Imoke; first Minister of Niger Delta Ufot Joseph Ekaette and late publisher of Leadership newspaper, Sam Nda-Isaiah.

The document reads: “The Federal Capital Territory Administration (FCTA) here by informs the general public that the Minister of the Federal Capital Territory, has in the exercise of the powers conferred on him under section 28 (5) (a) and (b) of the Land Use Act, 1978, revoked the underlisted plots with names and titles as reflected in our records for continued contravention of the terms of development of the Right of Occupancy to wit non development.”

The affected plots are situated within Central Business District, Maitama (A05); Maitama (A06); Wuse II (A08); Gudu (B01) and Wuye (B03).

Others are Jabi (B04); Utako (B05); Katampe Extension (B19); Idu Industrial Area (C16) and Asokoro (A04) Districts respectively.

It would be recalled that upon assumption of office as FCT Minister, Wike had vowed that any land contravening the Abuja Land Use Act would be revoked no matter those involved.

[NaijaNews]

• Nigerian commercial banks have incurred an estimated $1 billion in loan losses during the first half of 2023, a significant increase compared to the same period last year, largely attributed to rising inflation and interest rate hikes by the Central Bank of Nigeria. 
• Amidst these macroeconomic challenges, banks like UBA and GTCO have seen over 1,000% year-on-year growth in impairment charges, affecting their core business of lending and reducing their net interest income. 
• Despite the adverse conditions, banks have managed to maintain non-performing loan ratios within regulatory limits, partly due to a substantial increase in non-interest income generated from forex revaluations. 

Nigeria’s leading commercial banks suffered loan losses estimated at a combined $1 billion in the first half of 2023. 

This is according to data collated from the 2023 half-year financial statements released by the banks in the last few weeks. 

In terms of local currency, the losses amount to over N730 billion for the first two quarters of the year, dwarfing the N163 billion incurred over the same period last year.  

It’s worth noting that Access Bank, Nigeria’s most substantial financial institution by total assets, has not yet released its audited accounts for the first half of the year. 

Rising Inflation and Interest Rates fuel losses 

The surge in impairments comes against a backdrop of growing inflationary pressures and subsequent hikes in interest rates.

To curb spiralling inflation, the Central Bank of Nigeria (CBN) has significantly raised its key interest rates, going from 11.5% in December 2021 to a 15-year peak of 18.75%.  

Market experts widely anticipate another interest rate hike at the upcoming Monetary Policy Committee (MPC) meeting, which has been rescheduled from its original dates of September 25 and 26, 2023. 

As the CBN continues its aggressive policy measures to combat inflation, the cost of borrowing has also risen. This inflationary environment makes loans more expensive to service, thereby increasing the likelihood of borrower default. 

The Domino Effect on Impairment Charges 

Faced with the growing risk of customer default, banks have had to escalate their impairment charges to buffer against potential future losses.  

In the first half of 2023, impairment charges on loans and advances across banks witnessed a significant year-on-year surge, with banks like UBA and GTCO recording over 1,000% year-on-year growth in impairment charges during the same period.  Both banks recorded loan impairments of N164.2 billion and N153.9 billion respectively.  

GTB attributed these ballooning losses to “weakening macroeconomic conditions” and losses incurred from investments in Ghana’s Eurobonds. 

• “The Group booked loan impairment charges of ₦82.96bn in H1-2023 from ₦3.51bn in H1-2022 due to weakening macroeconomic variables.
• “The Group also recognised ₦81.3bn in H1-2023 as an impairment charge on other Financial Assets (FA) also by way of management overlay as loss rate heightened on its investment in Ghanaian sovereign securities and other foreign currency financial instruments whose underlying values are sensitive to adverse exchange rate movement.”

The substantial surge in impairment charges on loans and advances underscores a significant concern; banks are bracing themselves for more substantial losses from their core revenue stream, which is lending to customers.    

These provisions have cast a shadow over the banks’ income generated from their core business line, which is lending to customers, consequently reducing their net interest income after impairment charges.   

Zenith Bank specifically outlined this dilemma, indicating that high impairment levels, coupled with elevated interest expenses due to inflation, have impacted its net interest margin (NIM), which fell from 7.1% to 5.9% year-on-year. 

Impairment levels increased significantly in recognition of the heightened risk environment resulting in the cost of risk growing from 1.4% to 8.8%. Cost of funding also grew YoY from 1.4% in H1 2022 to 2.6% in H1 2023 due to the spike in interest rates, with interest expense growing from NGN57 billion in H1 2022 to NGN153.6 billion in H1 2023. This affected our net interest margin (NIM) which reduced from 7.1% to 5.9% over the same period. 

Silver Linings and Analyst Perspectives 

Despite these grim figures, commercial banks have maintained non-performing loan ratios that are within regulatory limits. GTB, Zenith Bank, UBA, and FBN Holding reported NPL ratios of 4.6%, 3.9%, 3.3%, and 4.3%, respectively.

These more favourable ratios have been bolstered by a considerable increase in non-interest income, particularly from forex positions.  

For example, four banks within the FUGAZ group (excluding Access Bank) reported a combined N1.3 trillion from forex revaluation gains, primarily from swaps and non-deliverable forwards.

This is a significant leap from just N16 billion over the same period in 2022.  

Some financial analysts who spoke with Nairametrics suggested that the escalation in loan impairments might be a strategic move by banks.

This increase could be a way to fast-track loan provisioning, which can now be offset by the gains from forex revaluations. 

 [Nairametrics]