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Obaseki to CBN: Increasing interest rate will not lead to economic growth


 

Godwin Obaseki of Edo on Friday launched a N1 billion “Feed the Hungry Initiative” designed to provide food to the vulnerable and poor people in the state to cushion the current hardship in the country through religious leaders.

Obaseki who on the occasion met with Christian and Muslim leaders of the State, disclosed that the sum of ₦1 billion has been earmarked for the initiative.


He said the money would be lodged in a dedicated account which would be managed by the religious leaders.

The Governor further disclosed that the fund would be used to purchase food items for distribution to vulnerable citizens across communities in the 18 local government areas of the State through the religious leaders.

According to him, “I don’t want the scheme to be seen as pure government initiative or mixed it with politics.

“The food items should be purchased in the local communities in order to boost their businesses.


He added: “like I have always said, when citizens are in disress, very few can cross the government House to reach me, but they can reach religious leaders for assistance.

“The burden of the churches, mosques must be very high with the difficulty in the country. You know my position about what is going on in the country, and you know how I raised alarm of where we are today.

The Chairman of Christian Association of Nigeria (CAN) in Edo State, Irekpono Omoike, lauded the Governor, adding that christian blocs in the State will justify the confidence reposed in them.

Also, the Chief Imam of Benin Central mosque, Mallam Abdulfatai Enabulele, who led other Imams to the meeting, commended Governor Obaseki for the initiative, and pledged support of the Muslim community towards the success of the initiative.

In a brief remark, the Chairman of Edo State Muslim Pilgrims Welfare Board, Sheikh Ibrahim Oyarekhua, warned the Muslim leaders against diverting the food items.

The remains of the late Chief Executive Officer of Access Bank, Herbert Wigwe, as well as those of his wife and son, have arrived Nigeria.

The corpses of the Wigwes arrived the Port Harcourt International Airport from United States, US, on Friday.

The funeral of the trio will hold on Saturday at Isiokpo, his hometown, in Ikwerre LGA of Rivers State.

 

Wigwe, alongside his wife, son, and Abimbola Ogunbanjo, the former group chairman of Nigerian Exchange Group Plc (NGX Group), died in a helicopter crash at the border of Nevada and California in the US last month.

Since their death, tributes have continued to pour in for Wigwe as sympathizers recalled his deeds while alive.

 

An Ota Magistrates’ Court in Ogun State, on Friday remanded nine persons for allegedly kidnapping and killing six girls for money ritual.

The Police charged the defendants, whose addresses were not provided, with kidnapping, murder, robbery and conspiracy.

The defendants are: Moses Aruwaji, 45, Adebayo Azeez, 32, Mariam Aruwaji, 42, Akinwunmi, 20 and Sheriff Agbani, 23. 

Others are: Samuel Monday, 42, Osojieahon Aijonohouria, 24, Peter Oluwalolese, 48 and Jamiu Yufuf, 48.

Earlier, the Prosecutor, CSP Adaramola Felix, informed the court that the defendants and others still at large, committed the offenses between September 28 2023 and January 11.

Felix said the defendants conspired among themselves to kidnap and kill the victims – Sulaimon Adijat, Lucy Blessing, Lawal Adunni, Olarewaju Abosede, Ezeh Chom and one Pretty – for ritual purposes.

He said they also robbed Adijat of her cellphone valued at N70,000. 

The prosecutor said the offenses contravened Sections 23(2), 24(2), 319(2) and 516 of the Criminal Code Laws of Ogun, 2006.

The Chief Magistrate, Mr D. O. Ilo said the defendants should be remanded in Ibara Correctional Centre, pending advice from the State Director of Public Prosecutions (DPP).

The magistrate did not take the plea of the defendants.

She adjourned the case until May 8 for further hearing.


 

Famous Nigerian singer, Ayodeji Ibrahim Balogun, popularly known as Wizkid, has spoken about his relationship with colleague, Burna Boy.

Wizkid, speaking in his latest interview, explained that they initially met while working on Burna Boy’s album “African Giant.”

Sharing a humorous incident from their collaboration studio, he said things took an unexpected turn after his inebriation
despite the initial hiccup.


Wizkid further referred to Burna Boy as his family, adding that having two great people in the same room will undoubtedly result in some amazing music.

In the video, Wizkid said; “Burna Boy and I are like family, when you have two great people in the room, you are bound to make amazing music.”

Ongoing reforms will soon secure Nigeria's future: Shettima


 

As parts of efforts to tap from the carbon market, which has an estimated value of $2.5 billion, the Vice President Kashim Shettima, yesterday inaugurated the Intergovernmental Committee on Carbon Market Activation Plan.

The committee is expected to help create a blueprint to drive an efficient sustainable carbon market ecosystem in the country.

Inaugurating the committee on Thursday at the Presidential Villa, Abuja, Shettima said it was in fulfillment of the promise made by President Bola Tinubu to reduce Nigeria’s carbon footprint as well as plans by the federal government, in collaboration and support of the Africa Carbon Market Initiative (ACMI).

The inauguration of the committee, chaired by the Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, followed the creation of the Intergovernmental Committee on Carbon Markets by the President at the COP28 in December 2023.

Shettima said the move is a justification of the Tinubu administration’s focus on natural gas as a transition fuel.

 

The Vice President noted that the Intergovernmental Committee on carbon market stands as a testament to the federal government’s dedication to developing a national carbon market strategy.

Shettima further stated that the initiative would attract crucial investments, catalyst emission reduction and foster sustainable development.

He stated: “However, the intervention we seek can’t be achieved unless the best minds of this nation come together to oversee our transition, and I have no doubt that we are on the right track, especially with the calibre of the technocrats that are in this room.

“We gather here today as part of the broader initiative to position Nigeria and, by extension, Africa in green growth manufacturing and Industrialisation. This underscores our commitment to sustainable development and environmental stewardship.

“This justifies our focus on natural gas as a transition fuel alone site investment in renewable energy sources. Our mission is to meet the needs of the present while safeguarding the future.

“The sincerity of our commitment to coordinating carbon-related market plans and initiatives has never been in doubt. The Intergovernmental Committee on carbon market stands as a testament to our dedication to developing a national carbon market strategy.”

The Vice President noted that the implementation of the carbon market mechanism represents a radical shift, stressing that each and every member of the committee must consider the initiative as a call for collaboration, innovation and collective action.

“Today, as we embark on the mission to translate innovative ideas from conference papers into tangible actions, we must recognise that our collaboration with the African carbon market initiative not only exemplifies our commitment to environmental stewardship but promises to reposition Nigeria as an investment-friendly destination for a high integrity carbon market.

“What we are making here is history that will expand our participation in the voluntary and compulsory carbon market. We are all aware that the carbon market offers a remarkable opportunity to unlock billions for the climate finances of Nigeria and Africa at large,” the VP added.

Earlier, in his remark, the co-chairman of the committee, Mr Zacch Adedeji, said the initiative holds immense promise for Nigeria’s sustainable future.

He commended the Vice President for his unwavering support and commitment to driving Nigeria’s carbon market agenda forward.

Adedeji assured that the committee would work hand-in-hand with the African carbon market initiative to harness Nigeria’s vast carbon potential which exceeds $2 billion.

Also, Director-General of the National Council on Climate Change (NCCC), Dr Salisu Dahiru, said the committee had swung into action since December 2023 when it was established by President Tinubu on the sidelines of COP28 in Dubai.

Dahiru explained that the issue of carbon market and trading is axiomatic to any country’s mitigation as well as adaptation efforts in terms of what it needs to do to contribute to global efforts for managing climate change.

President Bola Tinubu condemns the heinous incidents of abduction involving very vulnerable victims, internally displaced persons in Borno State, and students in Kaduna State.

The President directs security and intelligence agencies to immediately rescue the victims and ensure that justice is served against the perpetrators of these abominable acts.

This was contained in a statement signed by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale on Friday, 8th of March, 2024.

“I have received a briefing from security chiefs on the two incidents, and I am confident that the victims will be rescued.

“ Nothing else is acceptable to me and the waiting family members of these abducted citizens. Justice will be decisively administered,” President Tinubu says.

The President sympathises with the families of the victims, assuring them that they will soon be reunited with their loved ones.

Also read: VIDEO: Kaduna gov visits school, assures return of abductees

Recall that Suspected Boko Haram members had on Wednesday stormed an Internally Displaced Persons camp in Gamboru Ngala town in Borno State and abducted scores of the IDPs, most of whom are women.

Again on Thursday morning, bandits invaded the LEA Primary School, Kuriga, Chikun Local Government Area of Kaduna State and kidnapped scores of pupils.

EFCC I'm Here, Fayose announces arrival at agency's office - Punch  Newspapers

 

The Federal High Court in Lagos on Friday fixed 22 March for continuation of the money laundering trial of a former Governor of Ekiti State, Ayodele Fayose.

 

The trial judge, Chukwujekwu Aneke, told the prosecutor for the Economic and Financial Crimes Commission (EFCC), Rotimi Jacobs, to inform an ex-official of the EFCC who had earlier testified as a prosecution witness in the case, to appear for cross-examination on 22 March.

Mr Fayose is being prosecuted by the EFCC alongside a company, Spotless Investment Ltd., on 11 counts of N6.9 billion fraud and money laundering.


When the case was called on Friday, Mr Jacobs, a Senior Advocate of Nigeria (SAN), appeared for the EFCC, while Messrs Ola Olanipekun, a SAN, and Olalekan Ojo, also a SAN, appeared for the first and second defendants, respectively.

Mr Jacobs told the court that his 13th witness, Aliyu Madaki, who is to be cross-examined by the defence, was held up in Jos, the Plateau State capital, and unable to attend court.

He also told the court that the witness was no longer an employee of the EFCC.


Mr Jacobs said the witness now resides in Nasarawa State.

The prosecution informed the court that the witness had pleaded for another chance to be present on 28 March, a date the court had already scheduled for continuation of trial in the case.

Mr Jacobs, however, said he had just discovered that the court would be on Easter vacation by then, and he consequently, prayed for a new date.

Meanwhile, the second defence counsel, Mr Ojo, expressed displeasure at the absence of the witness, on the grounds that it showed great disrespect to the court.


Mr Ojo insisted that whatever issues preventing the witness from attending court did not happen today and so the prosecutor could not have kept silent till today before informing the prosecuting counsel.

In support of this position, the first defence counsel, Mr Olanipekun, also expressed dissatisfaction on the grounds that the prosecutor ought to treat the matter with the importance it deserved and informed the prosecutor earlier.

Although the prosecutor insisted that a date in March would not be sufficient for him to ensure attendance of the witness, the judge told the prosecutor to inform the witness that it is an order from the court.

Consequently, the court fixed 22 March for cross examination, and ordered the prosecutor to produce his witness on that date.

The court also fixed further dates of 25 and 26 April 25 and April for continuation of trial.

Mr Fayose is being prosecuted by the EFCC for alleged N6.9 billion fraud and money laundering.

He was first arraigned on 22 October 2018, before the former trial judge, Mojisola Olatotegun.


He was arraigned alongside his company, Spotless Investment Ltd., on 11 counts of fraud and money laundering.

Mr Fayose pleaded not guilty to the charges, and was granted bail on 24 October 2018, in the sum of N50 million with sureties in like sum.

The defendants were re-arraigned before the new judge, Chukwujekwu Aneke, on 2 July 2019, after the case was withdrawn from Ms Olatoregun, following a petition by the EFCC.

Mr Fayose, again, pleaded not guilty before Aneke, who allowed him to continue on the bail granted him by Ms Olatoregun.

The EFCC has since opened its case before the new judge and has since been calling its witnesses.

According to the charges filed by the commission, Mr Fayose and one of his aides, Abiodun Agbele, on 17 June 2014, took unlawful possession of N1.2 billion for the purpose of funding his governorship election campaign in Ekiti State.

The commission alleged that the sum formed part of crime proceeds.

Mr Fayose is also alleged to have received a cash payment of $5 million from the then Minister of State for Defence, Musiliu Obanikoro, without going through any financial institution.

The EFCC also alleged that the former governor retained N300 million in his bank account and took control of the aggregate sums of about N622 million which formed part of crime proceeds.

It added that Mr Fayose got De Privateer Ltd. and Still Earth Ltd. to retain aggregate sums of N851 million which formed part of crime proceeds.

The commission also accused Mr Fayose of using about N1.6 billion crime proceeds to acquire property in Lagos and Abuja.

The former governor also allegedly used N200 million crime proceeds to acquire a property in Abuja in the name of his elder sister, Moji Oladeji.


The alleged offences, EFCC said, contravened sections 15(1), 15 (2), 15 (3), 16(2)(b), 16 (d) and 18 (c) of the Money Laundering Prohibition Act, 2011. (NAN)

The 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has said the abductions of women and students in Borno and Kaduna States are clear manifestations of the failure of governance.

Reacting to the two kidnap incidents in an X post on Friday, the former vice president said the problem of insecurity in the country is getting worse by the day and has turned Nigeria into one of the most terrorized territories on earth.

Atiku said the All Progressives Congress-controlled federal government has failed woefully to provide the people with security, shelter, and other basic things expected of a responsive government.

He stated that the Bola Tinubu government has continued to play the ostrich while the nation is plagued by insecurity, adding that while the weak and vulnerable are neglected, the government is making empty rhetoric about reforms.

Atiku, therefore, sympathised with the victims and their families over the sad developments and urged the security agencies to save the innocent citizens from their captors.

He wrote: “The problem of insecurity in Nigeria is getting worse by the day. The media has been awash with terrifying news of banditry, kidnapping, and bloodletting that has turned our country into perhaps one of the most terrorized territories on earth.

“Within one week, there have been many reported cases of mass abduction of hapless citizens in the Northwest and Northeast regions of our country. In the early hours of Thursday, school children numbering over 280, together with their teachers, were abducted in Kunga, Kaduna State, by bandits riding on motorcycles, without any challenge by security agencies.

“Earlier in the week, it was reported that scores of women and children fetching firewood were abducted by gun-totting bandits suspected to be members of Boko Haram. It was also reported that over 200 people, mostly women and children, were abducted from the IDP camp in Ngala in Bornu State. The cases are endless, and the problem seems interminable.

“The APC-controlled government has failed woefully to give the people the basic things expected of a responsive government. It is a clear manifestation of the failure of governance. The government has continued to play the ostrich while the nation is plagued by insecurity.

“While the weak and vulnerable are neglected, the government is making empty rhetoric about reforms. And while our young men are abducted, killed, or conscripted into the army of the terrorists and our women and girls are ravished and subjected to different forms of gender-based violence, the authorities do nothing.

“This is in negation of the constitutionally guaranteed commitment that the security and welfare of citizens is the primary responsibility of government.

“I stand in solidarity with my fellow citizens and sympathise with the victims and their families. I urge the security agencies to rise up to the challenge and save innocent citizens from the horrors of banditry and terrorism.”

Tinubu Is Better Than Peter Obi - El-Rufai (Video)

 

The son of former Kaduna State Governor, Nasir El-Rufai, Bello El-Rufai, has submitted that the Labour Party (LP) 2023 presidential candidate, Peter Obi is not in the league of President Bola Tinubu.

According to him, Tinubu is far better than Obi, and the former Anambra State Governor can’t even be compared to the likes of former Lagos State Governor Babatunde Fashola or his father, Mallam El-Rufai.

The younger El-Rufai made the submission during a chat with Seun Okinbaloye on the latest edition of the Mic on Podcast.

He added that if the opposition parties really wanted to defeat Tinubu in the last general elections, Atiku Abubakar, Rabiu Kwankwaso, and Obi himself should have worked together.

On those with the habit of dragging people online or offline, El-Rufai said he is not afraid to be called out and is ready to reply accordingly.

See the video.

List Of Buhari's Cabinet Ministers That Retained Their Portfolios


 

A human rights lawyer, Pelumi Olajengbesi, has called for the Economic and Financial Crimes Commission (EFCC) to conduct a comprehensive investigation into the financial dealings of cabinet members and appointees who served under President Muhammadu Buhari’s administration.

The former president’s tenure, which spanned from 2015 to 2023, has come under scrutiny following the trial of ex-Central Bank of Nigeria Governor, Godwin Emefiele.

In a statement released on Friday, Olajengbesi highlighted the urgent need for such a probe, pointing to “startling revelations” that have emerged from Emefiele’s trial, notably the alleged forgery of signatures belonging to Buhari and the former Secretary to the Government of the Federation, Boss Mustapha.

These allegations, part of a $6.2 million fraud case related to funding for foreign observers in the last elections, have raised serious concerns about the integrity of financial transactions conducted during Buhari’s presidency.

Olajengbesi praised the EFCC’s efforts in bringing to light these allegations and emphasized the importance of extending the investigation to cover all individuals who held positions of power during the eight-year period.

He argued that auditing the financial transactions of Buhari’s government officials is crucial to ensuring accountability and transparency within Nigeria’s public sector.

The lawyer’s call for an expanded probe comes at a time when the EFCC is intensifying its efforts to combat corruption and financial crimes within the country.

By investigating former cabinet members and government appointees, the EFCC would be taking a significant step towards dismantling corrupt practices and reinforcing the principles of good governance.

Olajengbesi said, “The audacity of those in power and their criminal influence is becoming too much and must be stopped.

“The EFCC must not stop at just the former CBN Governor Godwin, Emefiele, but should carry out an entire audit of principal actors who served under the administration of former President Muhammadu Buhari. There should be a deterrent for bad behavior.

“Again, the case of the suspended Managing Director/Chief Executive Officer of the Rural Electrification Agency, Ahmad Salihijo over alleged N1.2bn fraud is fresh, and a pointer to the gross abuse of power by those who served under Buhari.

“Emefiele and all those who served under the Buhari adminis8⅞ÿÿtration should be properly audited and given a chance to clear their names as the corruption that manifested under that government is gargantuan.”