A 38-year-old man, Oguntunde Ismaila, has been arrested after he used a toy gun to rob residents of Unilag Estate in the Magodo area of Lagos.

The suspect, along with three others, allegedly invaded the estate in the wee hours of Sallah day armed with items that looked like guns and injured one of the guards at the gate before they gained entry into the estate on Science Road.

Confirming the incident, the Lagos State police spokesman, Benjamin Hundeyin, said that at about 4am, policemen from Isheri Division received a call that armed robbers had invaded the estate and that they mobilised to the scene and arrested one Oguntunde Ismaila Ajibade.

He said, “After being searched, the following items were recovered from him: an improvised gun, one axe, a torchlight, a toy ammunition magazine and a black pullover.

“Prior to the arrival of the police, the gang succeeded in inflicting injuries on one of the guards at the estate’s gate.

“Suspect and exhibits are presently in police custody and efforts are in progress to arrest his fleeing accomplices.”

The Federal Government has so far saved about N400bn as a result of the removal of subsidy on Premium Motor Spirit, popularly called petrol, since May 31, 2023, when the initiative was officially implemented, oil marketers stated on Thursday.

Also, the oil dealers stated that there was a high possibility for the cost of petrol to rise in July, going by the recent floating of the naira against the United States dollar by the Federal Government.

The Central Bank of Nigeria unified the country’s exchange rates into the Investors and Exporters window on June 14, 2023, allowing market forces to determine the exchange rate.

Operators in the downstream oil sector told our correspondent on Tuesday that going by the revelation of the Nigerian National Petroleum Company Limted as regards the amount being spent previously on subsidy every month, Nigeria had now saved hundreds of billions after halting the subsidy regime in May.

“Right now they (the government) are making money. At least with this removal of subsidy, the government has racked in hundreds of billions, whether in naira or dollar. This is because every month we know how much they lose before,” the National President, Independent Petroleum Marketers Association of Nigeria, Chinedu Okonkwo, stated.

Okonkwo told our correspondent that marketers had been told how much the NNPCL was spending on subsidy monthly, referring to the comments of the firm’s Group Chief Executive Officer, Mele Kyari, during a meeting with oil sector operators in February.

At the meeting, Kyari had said, “Today, by law and the provisions of the Appropriation Act, there is a subsidy on the supply of petroleum products, particularly PMS imports into our country. In current data terms, three days ago, the landing cost was around N315/litre.

“Our customers are here; we are transferring to each of them at N113/litre. That means there is a difference of close to N202 for every litre of PMS we import into this country. In computation, N202 multiplied by 66.5 million litres, multiplied by 30 will give you over N400bn of subsidy every month.”

Commenting on petrol imports by independent marketers, Okonkwo stated that the oil dealers were holding meetings about this.

“We are holding meetings with a lot of people who are interested in commencing PMS imports. We are not resting on our oars about this,” the IPMAN president stated.

Although Okonkwo admitted that petrol price would rise in response to forex rates, he argued that the removal of subsidy would not only lead to a continuous increase in PMS cost.

“When there is deregulation and no subsidy, the price of petrol would either go up or come down. If you want to profiteer, those who bring in and sell at cheaper rates would put you out of business.

“So the market fundamentals will determine the pricing and capping. Therefore the floating of the naira at this time that Nigeria is beginning to make savings is not going to be a fixed thing,” he stated.

The IPMAN president added, “The exchange rate will also move up or down depending on how we manage our crude oil, which is our foreign exchange earner. By the time we begin to meet our OPEC quota and other areas of generating foreign exchange, the naira will begin to firm up.

“And this will result in cheaper fuel. So we should not be thinking that the cost of fuel will continue to rise. The floating of the naira is good because at the previous level, you only access the dollar at the official rate based on who you know.”

On his part, the President, Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, told our correspondent that the cost of PMS would respond to the exchange rate, as the product would rise in price going by the current forex rate.

“So long as the exchange rate is high, the cost of petrol will be high. But these are early days and the expectation with the President Bola Tinubu-led government is that the exchange rate will be getting lower. So we will get there,” he stated.

On plans by his group to start importing petrol, he said, “PETROAN is already working on the import licence approval for petrol, because it has to be approved before you can import. We are doing this, while we still negotiate with the government on the process of getting the refineries to work.”

Labour speaks

Meanwhile, the organised Labour has called on Nigerians to exercise patience while it continues to negotiate with the representatives of the Federal Government following the removal of subsidy on Premium Motor Spirit which has continued to cause hardship to Nigerians.

The PUNCH reports that since the removal of the subsidy on PMS, there has been a spike in cost of living conditions, with oil marketers projecting a N700/per liter cost of fuel by July 2023.

Speaking with our correspondent on Thursday, the National vice-President of the Trade Union Congress and a representative of the organised labour interfacing with the government, Tommy Etim, said labour unions were constantly engaging the government to ensure that favorable palliatives are distributed to Nigerians.

“ Nigeria has come of age and whatever happens Nigerians especially workers should exercise patience until the outcome of the meetings so that we can arrive at a collective bargaining agreement that will be for the interest of Nigerians and Nigerian workers.

“Whatever we are facing now is a collective sacrifice and there is hope that we will not allow the pressure for those who have eaten fat on the so called subsidy to frustrate our negotiations. Let Nigerians see whatever is happening as a collective sacrifice that all Nigerians will be happy.”

- gives Monday deadline

A little over 100 Generals in the Armed Forces of Nigeria comprising Major Generals, Brigadiers General and some Colonels have been told to proceed on retirement by the military authorities.

The signal which gave July 3, 2023, as the deadline for the officers to retire from the service, cuts across the Army, Navy and Air Force and follows the appointment of new service chiefs by President Bola Tinubu.

Those given the deadline to retire voluntarily include officers of the Nigerian Defence Academy (NDA) Regular Courses 38, 37, and 36 and below.

The signal containing the ‘advice’ was dated June 26, 2023, and signed by Maj. General Y. Yahaya on behalf of the new Chief of Defence Staff (CDS), Maj. General Christopher Musa.

The Defence headquarters stated that seniors of the new service chiefs must exit the military “in order to preserve and uphold the tenets of the military profession which values hierarchy and service discipline.”

Already, some affected officers who know the routine of such appointments and vacancies constraints that goes with the appointments have quietly stopped wearing uniforms, signalling their commitment to follow military tradition.

Affected officers of the armed forces have been directed to submit their retirement applications to their respective Service Headquarters not later than July 3, 2023 which is next week.

The signal reads: “It would be recalled that the President, Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu recently appointed new CDS and Service Chiefs on 19 Jun 23.

“Consequently, I am directed to respectfully request Services to direct all officers with seniority on commission above that of NDA Regular Course 39 to submit their applications for voluntary retirement from Service with immediate effect.

“It is important that all officers whose officer cadet courses run seniority above that of the current Service Chiefs disengage from the Service.”

Already the pulling out ceremonies of the erstwhile service chiefs and coursemates of many of the generals affected have commenced with former Chief of Army Staff, Lt. General Farouk Yahaya bowing out last weekend.

President Bola Tinubu says he will not partake in the economic destruction of the country by enemies of the nation.

He said the bleeding of the country through the oil subsidy regime was a huge joke that should never be allowed to continue under any guise.

The president stated this on Thursday at a reception in his honour by the Lagos State Government.

“We will be needing the necessary resources to achieve the promise we made to Nigerians during our campaign.

“We need to stop the bleeding of our finances through fuel subsidy and the arbitrary exchange regime. We have no choice.

“We’ve to re-engineer the effectiveness of control and management of our resources in order to meet the obligations owed to Nigerians.

“I could have said yes I want a share of my benefit and participate in the arbitrage. But no, God forbid. That’s not why you elected me,” he said.

The president said that Nigerians would continue to see new and better initiatives for the benefit of, not only the adults, but the children who are the future of the country.

Tinubu pledged to work with the national assembly and state governors in a true separation of powers to achieve the renewed hope agenda of his administration.

The President of the Senate, Sen. Godswill Akpabio, promised to work with the executive arm of government to ensure that Nigerians enjoy the dividends of democracy.

“With what the president has done in Lagos, we are assured that Nigeria is in safe hands.

“We didn’t know this was the plan you had for the country, we wouldn’t have contested with you at the party primaries.

“These few decisions you have taken has served as a catalyst for the country’s development,” he said.

Akpabio said that Lagos has been a model of development for states in Nigeria, adding that the man that did the framework can also do it for Nigeria.

Gov. Babajide Sanwo-Olu of Lagos State also said that the state governors are in full support of the policies and programmes of the present administration.

He said that the support of the state governors was important towards the realisation of the dream of a better Nigeria.

Similarly, Gov. AbdulRahman AbdulRazaq of Kwara said the state governors support the urgent need of Tinubu to reposition the economy of the country.

“The removal of the petroleum subsidy and reversal of the arbitrary exchange regime was the right step in repositioning the country,” AbdulRazaq, who is also the Chairman, Nigeria Governors Forum, said.

Former governor of Lagos Raji Fashola, who represented past governors of Lagos state, assured the president of their continued loyalty to the Tinubu administration.

“We want you to know that we are only a phone call away. Whenever you need us, any of the class that you have mentored, we are ready to serve you once again,” he said.

In a dramatic event, the national assembly members and governors stood up on the podium with their current and former members to show solidarity with the president.

The Abia State Governor, Alex Otti, has taken a further step in his administration’s pursuit of accountability by suspending the state’s Head of Service and Permanent Secretaries who served under the previous administration of former Governor Okezie Ikpeazu.

The suspension came in the wake of the newly inaugurated judicial panel of inquiry tasked with recovering assets and properties belonging to the Abia State Government.

Governor Otti, who assumed office on May 29, 2023, has been practical about his commitment to good governance and the recovery of stolen state resources.

In line with this objective, the judicial panel of inquiry was set up to investigate alleged mismanagement of government assets during the previous administration and recover stolen ones.

A statement released by the Governor’s Chief Press Secretary, Kazie Uko, indicated that the decision to relieve the Head of Service and the Permanent Secretaries of their duties is aimed at avoiding interruption with the judicial panel’s investigation.

“Following the inauguration of the Judicial Panel of Inquiry on the Recovery of Properties and Funds belonging to Abia State Government, the Governor, His Excellency, Dr. Alex Otti, OFR, has directed the immediate suspension of the Head of Service (HOS) and all Permanent Secretaries in the State civil service” Uko stated.

He said Governor Otti has approved the appointment of Lady Joy Maduka, Director, Ministry of Education, as Acting Head of Service (HOS).

The current Permanent Secretaries were directed to “hand over to the most senior Director in their respective Ministries, Departments and Agencies”.

Uko, however, noted that John Pedro Iroakazi, Clerk of the House; and Mrs. U. G. Uche Ikonne, Solicitor General, were not affected by the development.

Nigeria’s external reserves fell by $2.85bn in the first half of 2023 due to external debt finance among other challenges, figures obtained from the Central Bank of Nigeria have revealed.

The CBN revealed in its figures on movement on foreign reserves that the reserves which commenced January 3, 2023 at $37.07bn fell to $34.22bn as of the end of June 26, 2023.

According to the CBN, the reserves fell by $3.43bn in 2022, from $40.52bn as of the end of December 31, 2021, to $37.09bn as of December 29, 2022.

At previous Monetary Policy Committee meetings, the former Governor, CBN, Godwin Emefiele, said, “The Committee, however, noted the marginal decline in the level of gross external reserves to $36.13bn in February 2023, from $36.4bn in January 2023, a decrease of 0.7 per cent, reflecting the downtrend in crude oil prices, as global uncertainties persist.”

“The Committee, also, noted the moderate decline in the level of gross external reserves to $34.91bn in April 2023, from $35.14bn at end-March 2023, attributable to transactions in the foreign exchange market and largely to minuscule accretion to reserves from crude oil exports,” He said.

A member of the MPC, Adeola Adenikinju, said current and capital accounts were higher in Q3, 2022 than in Q2, 2022.

He said, “Gross external reserves fell by 0.7 per cent to $36.13bn at end-February 2022 from $36.4bn at end-January 2022. This was driven by the rise in debt service payments and foreign exchange swap transactions.

“The FGN’s net fiscal operations resulted in an expansionary fiscal deficit in February 2023 (m-o-m). The overall deficit rose by -N539.01bn in February 2023 compared to – N417.75 in January 2023.

“Both government expenditure and revenue declined. FGN Debt increased owing to new borrowings to finance the deficit in the 2022 budget and new loans by subnational governments.”

Another member of the MPC, Mike Obadan, said foreign exchange market pressures continue to pose challenges as supply-demand imbalances remained unrelenting.

“The external reserves position has remained weak against the backdrop of the limited capacity of the country to earn foreign exchange from both non-oil and oil exports,” he said.

A good handle on the oil theft and other challenges along with commencement of local refining of oil by the Dangote Refinery and Petrochemicals Company coupled with elimination of the notorious petrol subsidy regime should help to achieve stability in the foreign exchange market and exchange rate, he said.

The three suspects arrested over the murder of a Naval Officer, Sub-Lt. Samuel Akingbohun, in ldo- Ani, Ose Local Government Area of Ondo State, has narrated why and how they killed the officer, after an altercation.

In an interview, while they were paraded by the state police command, the suspects, Ayomide Sambo, Johnson Adeleke and Shagari Francis, 17, confessed to killing the officer for assaulting one of them.

It was gathered that the three suspects just finished secondary school in the town.

They narrated how they used an iron rod to hit the deceased officer’s head and scrotum.

Ayomide Sambo, aged 20, narrated that the naval officer physically assaulted his friend, Johnson Adeleke, by slapping and giving him a headbutt, while trying to contest for the right of way in the community.

“We were so annoyed that we went after him and we cornered him at a junction, where we attacked him using an iron rod.

“We were on our way to collect a power bank when we encountered the naval officer. He was coming from the opposite direction, and the portion he was coming from was bad.

“We were both trying to take a good path when my friend used his shoulder to shove the officer. “In annoyance, the naval officer slapped him and also gave him a headbutt. We started to beg the naval officer. After the naval officer had left, my friend said it was fake military personnel.

“It was then that we took a bike and traced him to the junction and challenged him.

“The naval officer and my friend started fighting. It was in the process that I picked up an iron rod and began to hit him all over his body. My friend also collected the iron rod from them and started hitting him.

“But the two of my friends are now denying it and saying that I was the only one that hit him with the iron rod.

“We have never seen the officer before. That was the first time we set our eyes on him. Even the Okada rider that carried us was saying that where my friend hit him with the iron rod was dangerous.

“We were arrested while trying to flee from the town. I was first arrested, while the other two were arrested the following day after I told the naval officers their whereabouts. The two of them are now saying that I was the only one that hit him.”

The second suspect, Johnson Adeleke, aged 20, however denied his involvement in the beating and killing of the officer.

Adeleke said: “When I was on my way to remove my power bank, I mistakenly hit my elbow with the navy officer. He slapped me and gave me a headbutt. At that moment, we didn’t know that he was a naval officer.

“After the fisticuffs, we took a bike and traced him. After catching up with him, I confronted him, but he refused to say anything.

“The friend of the naval officer used his elbow to hit Ayomide, it was at that point that Ayomide picked up the iron rod and started hitting him. I did not hit him at all, it was Ayomide that was hitting him.

“I was already out of Idoani in a bid to escape when my mother’s elder brother called me to report to the station.”

The third suspect, Shagari Francis, 17, in an interview said: “I didn’t hit the naval officer. I was just following them. I was arrested when my mother took me to the station to ask if I was part of them.”

Commenting, the spokesperson for the command, Funmi Odunlam, said the suspects would soon be charged in court for prosecution after police investigation.

Odunlami said, “Currently, three suspects are in custody, and in the course of interrogation, we realised that one Ayomide Sambo was one of those mobilised to the scene, and when he got there, he carried an iron rod, hit him on his head and his testicles, and started stoning him.

“Later, he became unconscious, and he was rushed to the hospital in the town, where he was confirmed dead by the Doctor.”

President Bola Tinubu on Thursday said the cashless policy implemented by former President Muhammadu Buhari around the last general elections confiscated “our monies,” even though according to him, the policy did not work.

He made the assertion in Ijebu-Ode, Ogun State, where he said he had to invoke the spirit of freedom and determination as symbolised by “Baba Emilokan” to overcome the obstacles in the election.

He said that he remained hopeful and optimistic about achieving victory in the last presidential election, despite the ineffective cashless policy implemented by the Central Bank of Nigeria.

According to a statement issued by Dele Alake, Special Adviser to the President Special Duties, Communications and Strategy, the president spoke in separate remarks at the palaces of the Paramount ruler of Ijebuland, Oba Sikiru Adetona, in Ijebu-Ode and Alake of Egbaland, Oba Adedotun Gbadebo, in Abeokuta , during a thank-you visit to the Royal Fathers.

Reflecting on the challenges in the build-up to the 2023 presidential election, President Tinubu recounted his concerns about the confiscation of funds and the failure of the cashless policy, and how he had previously sought wisdom and guidance from Oba Adetona during his visit to the palace.

He said: “Our monies were confiscated. The cashless policy didn’t work, it was terrible then. I realised that, I came to Ogun State to invoke the spirit of freedom which we are noted for.

“I invoked that spirit twice. The spirit of Baba Emilokan. That’s Baba. Being blunt, being decisive, that’s him, he will tell you. The second spirit is that money or no money (we will do the election and we will win).”

President Tinubu acknowledged that these spirits had been the driving force behind his service and expressed his gratitude to Oba Adetona, all the Obas, elected officials, particularly his ‘personal friend’, Senator Gbenga Daniel, the Senator representing Ogun East.

He thanked them for their loyalty and commitment during those crucial times in the 2023 election.

The President, who described his visit to Ijebu-Ode as a homecoming, told Kabiyesi:

“The way you have taken me, the way you have responded to me, all I can say is thank you. May you live long and may you witness a prosperous Nigeria.”

THE Nigeria Data Protection Commission (NDPC) has faulted the Central Bank of Nigeria’s (CBN) recent directive that banks should obtain and verify customers’ social media handles.

The Commission described the directive as illegal, noting that it violated privacy laws.

The apex bank had on June 26, directed banks to obtain the social media handles of customers as part of enhanced Customer Due Diligence (CDD) regulations.

It explained that the move was geared towards bolstering bank customers’ compliance with anti-money laundering (AML) and counter-terrorism financing (CFT) provisions, while aligning with international best practices.

However, in a statement on Thursday, June 29, the NDPC said it was currently engaging with the CBN on the directive, stressing that there is need to adhere to fundamental principles when collecting citizens’ data.

NDPC national commissioner Vincent Olatunji, who reacted to the directive in the statement, highlighted the significance of the Nigerian Data Protection Act (NDPA), which was enacted on June 12, in ensuring the responsible handling of citizens’ data by Data Controller Organisations.

Olatunji said the Act outlines guidelines for the processing of personal data, emphasising fairness, lawfulness, transparency, minimal data collection, and limited retention periods.

He explained that there were prerequisite steps any Data Controller must take prior to the collection of data from data subjects.

The NDPC official added that any organisation that defaulted was going against the law and causing a data breach, noting that such would attract a fine.

“We are already engaging with the CBN to let them know that what they have done is against the law because there are basic principles you must meet when you want to collect citizens’ data,” he said.

“There is data minimisation, meaning you don’t collect data beyond the purpose for which it was intended, purpose limitation, what purpose it is for.”

Olatunji stressed that the NDPC’s role is to protect the rights and interests of Nigerian citizens, making it applicable to all data controllers, including private and government offices, NGOs, and hotels.

“The purpose of this law is to safeguard the rights and interests of Nigerians who are data subjects.”

He highlighted key principles, such as data minimization, which mandates that data should only be collected for its intended purpose, and purpose limitation, which specifies the purpose for which data is collected.

Olatunji further argued that requesting social media handles from bank customers was unnecessary.

However, he acknowledged that if the collection of social media handles served a public interest, such as transaction monitoring, customers should be properly informed.

The European Election Observation Mission (EU EOM) to Nigeria has alleged that the appointment of the Chairman of the Independent National Electoral Commission, Mahmood Yakubu, and other electoral officials by the immediate past president of Nigeria, Muhammadu Buhari, left the electoral umpire vulnerable to perception of partiality during the conduct of the 2023 elections.

The EU Observers made this known in its final report on the 25 February and 18 March elections, published on its official website on June 27.

Mahmood was appointed as INEC Chairman by former President Buhari on 21 October 2015 and reappointed in 2020.

But the EU mission claimed that the public perception of INEC’s alleged partiality was as a result of the “presidential selection” that produced them.

“Weak points include a lack of INEC independent structures and capacities to enforce sanctions for electoral offences and breaches of campaign finance rules.

“Furthermore, the presidential selection of INEC leadership at federal and state level leaves the electoral institution vulnerable to the perception of partiality,” the observers stated.

The observers added that the conduct of 2023 federal and state elections by INEC exposed enduring systemic weaknesses thereby damaging public trust in the electoral umpire.

THE WHISTLER reports that during the counting of the February 25 presidential and National Assembly results, the EU Observer Mission chaired by Barry Andrews, cited “lack of transparency” on the part of INEC, particularly regarding INEC’s failure to transmit presidential poll results on its INEC Results Viewing Portal in real time.

In its final report, the EU maintained that the shortcomings associated with the election were glaring.

“Following a three-month-long observation across Nigeria, and in accordance with its usual practice, the EU EOM is now pleased to present its findings and recommendations.

“Shortcomings in law and electoral administration hindered the conduct of well-run and inclusive elections and damaged trust in INEC.

“With the aim of contributing to the improvement of future elections, the EU EOM is offering 23 recommendations for consideration by the Nigerian authorities,” the EU mission stated.

According to Andrews, Nigerians demonstrated a clear commitment to the democratic process but the election exposed enduring systemic weaknesses and therefore signals a need for further legal and operational reforms to enhance transparency, inclusiveness, and accountability.

“We are particularly concerned about the need for reform in six areas which we have identified as priority recommendations, and we believe, if implemented, could contribute to improvements for the conduct of elections,” said Barry Andrews.

Andrews added that “Importantly, there is a need for political will to achieve improved democratic practices in Nigeria. Inclusive dialogue between all stakeholders on electoral reform remains crucial.”

Listing its recommendations, the EU suggested clarity and plainness in Nigeria’s electoral laws, real-time transmission of results, among other recommendations.

“The six priority recommendations point to the need to (1) remove ambiguities in the law, (2) establish a publicly accountable selection process for INEC members, (3) ensure real-time publication of and access to election results, (4) provide greater protection for media practitioners, address (5) discrimination against women in political life, and (6) impunity regarding electoral offenses,” it stated.

The EU assured it will support stakeholders in the implementation of its recommendations.

The EU final report published on its website as on Tuesday comes amid the ongoing sittings of the Presidential Election Petitions Court in Abuja.

Three petitioners, namely, Peter Obi, Atiku Abubakar and Allied Peoples Movement are challenging the electoral umpire’s declaration of Bola Tinubu as winner of the election.

Meanwhile, the Election Observation Missions made it clear that it operates independent from the institutions of the European Union, adding “The views and opinions expressed in this report are those of the authors and do not necessarily reflect the official policy and position of the European Union.”