The battle to shore up the value of the Naira and clean up the financial system continued yesterday with the Central Bank of Nigeria (CBN) revoking the operating licences of 4,173 Bureaux De Change (BDC).

Invoking its powers under the Bank and Other Financial Institutions Act (BOFIA) 2020, Act No. 5, and the Revised Operational Guidelines for Bureaux De Change 2015 (the Guidelines), the apex bank accused the affected BDCs of non-compliance with various regulatory provisions.

The allegations against them, according to the CBN Acting Director of Corporate Communications, Hakama Sidi Ali, are: failure to pay all necessary fees, including licence renewal, within the stipulated period in line with Guidelines; non-rendition of returns in line with the Guidelines; and non-compliance with guidelines, directives and circulars of the CBN, particularly Anti-Money Laundering (AML); Countering the Financing of Terrorism (CFT) and Counter-Proliferation Financing (CPF) regulations.

The CBN said that in a bid to ensure better compliance and regulation of the Bureau de Change sector in Nigeria, it had embarked on revising the regulatory and supervisory guidelines for their operations.

“Once the revised guidelines are implemented, all stakeholders in the sector will be obligated to comply with the new requirements,” the CBN said.

It asked the public to take note of this development and follow the guidelines accordingly. The list of the affected Bureaux De Change operators can be found on the CBN’s website at www.cbn.gov.ng.

The revocation of the BDCs’ licences came just days after the CBN allowed BDC operators to resume forex transactions at the Nigerian Autonomous Foreign Exchange Market (NAFEM) – the official market, and released draft guidelines proposing significant changes to how BDCs operate.

Although the licence revocation has sent shock waves through the industry, observers of the financial sector seem not to have been surprised as the apex bank on Monday excluded the affected BDCs from access to dollar sales from the official market.

Of the 4,800 CBN-licenced BDCs, only 785 had access to forex from the official window on Monday after the apex bank resumed sale of dollars to the operators.

The CBN penultimate Friday raised the minimum capital requirements for BDC operators to N2 billion for Tier 1 licence holders and N500 million for a Tier 2 licence under the CBN’s revised Regulatory and Supervisory Guidelines for Bureau de Change (BDC) Operations.

Before now, a general licence cost N35 million.

The CBN and the Economic and Financial Crimes Commission (EFCC) had earlier launched a clampdown on street trading of foreign exchange by BDCs, in a multi-pronged approach by the authorities to address perceived irregularities in the forex market.

Some BDC operators were accused of manipulating the forex exchange which is said to be largely responsible for the current state of the national currency.

Justice Mohammed Nasir Yunusa of the Federal High Court, Kano on Wednesday convicted and sentenced three illegal bureau de change operators to three years imprisonment for operating without a requisite licence.

The convicts, Umar Ibrahim Muhammad, Abubakar Yakubu Garba and Muhammad Tijjani, were jailed after pleading guilty to one-count separate charges of illegal dealing in foreign currency without an appropriate licence.

The Criminal Investigation Department (FCID) of the Nigeria Police Force has said it would be charging Adachukwu Helen Okafor Esq, the Anambra lawyer that brutalised her 10 years old maid, with attempted murder and child abuse.

It will be recalled that the Minister of Women Affairs, Barrister Uju Kennedy-Ohanenye, had placed a N2 million bounty on the head on Adachukwu Helen Okafor, who inserted a hot knife into the private part of her 10-year-old maid who had been living with her for just two weeks.

She also burnt the girl’s cheeks and bottom with hot iron after claiming the little girl sexually molested her six years old son.

National Coordinator for Police Campaign Against Cultism and Other Vices (POCACOV), Chief Superintendent of Police (CSP) Olabisi Okuwobi, who paraded the suspect yesterday in Abuja, said the incident would be presented in court as a case of attempted murder and child abuse.

The CSP, while addressing newsmen, said: “Recall that on the 10th of January, there was a report, you know, in the social media, whereby it was alleged that a female lawyer abused a young girl and she was on the run.

“The Internet was awoken by the news of a 10-year-old girl who had burns all over her body. The girl was a maid to one Barrister Adachukwu Helen Okafor for two weeks.

“The said barrister accused the minor of fondling the organ of her six-year-old son while bathing him.

“On January 29, 2024, the suspect proceeded to tie her hands, her mouth and flogged her.

“She also inserted a hot knife into the girl’s private part and poured grounded pepper into it as well. She also placed a hot iron on the girl’s cheek and on her two buttocks.

“After causing the maid trauma, she locked her up in her toilet from the afternoon of the incident till the evening of the following day without food.

“She took the child the following day naked to the aunt that gave her the girl as a maid, and it was at the point that she dropped the young girl with her aunt, you know without clothes, with the burns on the cheek and buttocks and with blood and water oozing out of the private part that the aunt raised the alarm, and the alarm attracted passersby who brought out their phones and recorded the incident.

“We know what Nigerians do with their phones. And they started recording videos or taking pictures, and this went straight to the social space, which attracted the police of Anambra State Command and the Commissioner for Women Affairs in Anambra State.

“All efforts made to arrest her proved abortive because she took to her heels.

“At that point when all efforts made to arrest her proved abortive, the Honourable Minister right here beside me, also a barrister herself, Barrister Uju Kennedy, took it upon herself that she wasn’t going to keep quiet; that her portfolio covers all Nigerian women and children.

“So she released a N2 million bounty on her head and wrote a petition to the Inspector General of Police, who ordered that the petition be handled by the Force CID, and the policemen of the Force CID took action immediately.

“When the woman discovered that the heat was on her, from her hiding place, I believe she advised herself and showed up. She was arrested and her statement taken.

“She is a mother of four children.

“Unfortunately, the young girl, we hope she recuperates better. She is still receiving treatment based on the extensive burns on her. Nobody knows the extent of the internal injuries caused by the hot knife that was driven into her private part.

“The IGP is assuring Nigerians that a diligent prosecution of the case would be carried out. No iota of the incident would be swept under the carpet.

“And this should serve as a note of warning to those who use little children for child labour in the first place.

“As for the suspect, any moment, she would be in court.”

On her part, Kennedy-Ohanenye said: “To Nigerians, I can assure you that when you shout out it is like a command to us; we in government would take it up when you shout out.

“So we are assuring Nigerians that till we get justice for that girl, we would not let go.

“Before she was brought, we had already gone to court with the police and all her bank accounts are blocked.

“She can’t assess her money. We would never agree. In Nigeria now, if you tamper with any child or any woman, you will see action, legal action, any kind of action.

“But I’m equally telling women not to look for trouble.

“So we have handed over this lady, but we are not stepping aside.

“We will keep you informed step by step until she gets the correct justice she is supposed to get.”

Over 70 million bank customers are at risk of losing access to their accounts when the Central Bank of Nigeria’s directive on restricting accounts without Bank Verification Numbers and National Identification Numbers goes into effect.

The CBN had on December 1, 2023, in a circular directed that a ‘Post no Debit’ restriction be placed on all bank accounts without the BVN and NIN from Friday, March 1, 2024.

‘Post No Debit’ is a term used to describe a restriction imposed by banks on specific accounts, preventing customers from making withdrawals, transfers, or any other debits from such accounts. This measure effectively freezes the funds in the account, rendering them inaccessible for the duration of the restriction.

The circular, jointly signed by the Director, Payments System Management Department, Chibuzo Efobi; and Director, Financial Policy and Regulation Department, Haruna Mustapha, read, “It is mandatory for all Tier-1 bank accounts and wallets for individuals to have BVN and/or NIN. It remains mandatory for Tiers 2 & 3 accounts and wallets for individual accounts to have BVN and NIN.

“For all existing Tier-1 accounts/wallets without BVN or NIN: Effective immediately, any unfunded account/wallet shall be placed on ‘Post No Debit or Credit’ until the new process is satisfied. Effective March 1, 2024, all funded accounts or wallets shall be placed on ‘Post No Debit or Credit’ and no further transactions permitted. The BVN or NIN attached to and/or associated with all accounts/wallets must be electronically revalidated by January 31, 2024.”

The circular went on to warn banks in the country that a “comprehensive BVN and NIN audit shall be conducted shortly and where breaches are identified, appropriate sanctions shall be applied.”

As the deadline approached, some banks sent out messages to their customers to regularise their accounts in line with the new CBN directive. While some asked customers to visit their physical branches, others made provisions for customers to update their accounts online.

FirstBank Nigeria in an email to customers said, “Please ensure that your Bank Verification Number and National Identification Number are linked to your account number on or before February 29, 2024.

“You can seamlessly update your account information with your BVN and NIN by visiting any FirstBank branch close to you. Please note that the Central Bank of Nigeria through its circular: PSM/DIR/PUB/CIR/001/053 dated December 1, 2023, has directed that effective March 1, 2024, all funded accounts without BVN shall be placed on ‘Post No Debit or Credit’ and no further transactions permitted.”

Ecobank Nigeria wrote, “Please be informed that the Central Bank of Nigeria through its circular dated December 1, 2023, has announced that all accounts without Bank Verification Number and/or the National Identity Number would not be able to carry out transactions from March 1, 2024.

“Consequently, you will be required to update your account information with your National Identification Number and Bank Verification Number if you have not done so already.” It, however, offered an online solution.

Fintech firm, OPay, also called on its customers to complete the regularisation of their accounts by linking their BVN or their NIN as mandated by the apex bank, offering them both online and offline options.

A Tier-1 account refers to a bank account that can be opened with minimal or no form of documentation. Such an account can be opened with a passport photograph and has a limit of N50,000 deposit and an operating balance of N200,000 and is mostly not linked to the BVN and is targeted at the unbanked population.

This space is dominated by fintech firms and there are concerns that the lax Know Your Customer requirements are loopholes that are being used to perpetuate fraud.

The National President of the Association of Mobile Money and Bank Agents in Nigeria, Sarafadeen Fasasi, who called for an extension of the deadline, said while the policy was a good move to improve banks’ KYC requirements, its implementation was worrisome.

He said, “We are all aware that it is a good policy for the system for us to have good KYC, but unfortunately, what we have a challenge with is the implementation. This is another wrong implementation. Before you give a deadline, you must have provided the access points. As of today, we have about 104 million NINs out of 200 million people expected to have NINs. So, there is a gap of about 100 million.

“It is the same thing with the BVN, which as of the last report was about 59.9 million out of 134 million expected bank accounts. That means we have over 70 million accounts, which will be affected.”

According to data from Statista, as of 2021, the number of active bank accounts in the country was around 133.5 million, with savings accounts making up about 120 million.

Fasasi claimed that the National Identity Management Commission lacked the capacity to deliver 100 million NINs within the required timeframe.

He said, “The question is, can the NIMC deliver the gap of about 100 million NINs within the deadline? The answer is no, so why should this drive Nigerians into another problem? For BVNs, we have a huge gap to deliver and only bank branches can enrol BVN as of today.

“Based on our research, about 300 local government areas out of the 774 LGAs in Nigeria have no bank branches; so, who are those who are going to provide BVN enrolment at those LGAs? It means that people are going to run into trouble.

“Also, the highest that the banks have done is 500,000 enrolment per month. We are not ready for this. Why the rush? Why not plan that every month, this is what we want to achieve based on our capacity and access points?”

He lamented that this was coming at the same time as the National Communications Commission had directed telecom companies to bar mobile lines without the NIN.

“Who is pursuing us in Nigeria in this critical period where everyone is groaning under adverse economic conditions? They want to add extra trauma; I think we need to reconsider this,” he concluded.

The Chairman, Consumer Rights Awareness, Advancement and Advocacy Initiative, Moses Igbrude, said the apex bank ought to assess the level of compliance before wielding the big stick.

He said, “You must check the challenges and the parties who are responsible for the NIN and BVN. What of Nigerians in the Diaspora? They should give more time for this linkage so that they will not disrupt the banking system.

“It is a multifaceted issue involving many players. What is the infrastructure required for them to work? Otherwise, they will use a legal way to disenfranchise a lot of people.”

The President, Bank Customers Association of Nigeria, Dr Uju Ogubunka, called for an extension of the deadline to enable more bank customers regularise their accounts in line with the CBN directive.

Ogubunka told Saturday PUNCH, “We know that some of our members have linked their accounts with the BVN/NIN as directed by the CBN. At this point, I think it will be wise to give an extension, because the telecom network has been a bit inclement and, then of course, you talk about power; some of us were unable to charge our phones for some time because there was no power. And these things are happening almost everywhere.

“People are willing to do what they’re supposed to do, but conditions within the environment are a bit difficult. So, I will personally suggest that we consider what is happening and give some extension.”

He went on to suggest that a test run where restrictions would be placed on some affected accounts might be of help in sensitising people to the importance of the directive.

“Another thing that they can do is maybe do a test run so that people will know that it is something that can be done. Some people may not even believe that it is possible to restrict transactions. So, if you do a test run for one day or even a few hours, you announce that those who have not linked up will be unable to access their accounts temporarily, maybe for 24 hours or 12 hours, then give an extension. That should help,” Ogubunka added.

He stated that there had been no reports that banks had started to restrict bank accounts without the BVN and NIN.

“No one has reported that to us yet. But then, they may not know until they want to make use of the accounts. It is not as if they are using the bank accounts every minute of the day. It is only when they want to make use of it and then see that they can’t get through, that is when they have an issue. So far, we don’t have any report on that,” he said.

Multiple bankers, who spoke with Saturday PUNCH on condition of anonymity, said the banks had not yet started to restrict accounts without the BVN and NIN.

They said directives had been issued from their headquarters to create a seamless linking process to avoid account deactivation.

A bank official said, “No one is deactivating accounts yet. They have been sending emails to customers to calm down so that a more seamless linking process will be communicated to customers. They will be reached via text and email. Some people used the NIN to open or update their accounts already so they won’t need to do it again.”

On the number of possible affected customers, the official stated, “We haven’t got the affected number yet. It has to be spooled by our IT team from the backend.”

Another official confirmed the directive to assist more customers via email.

“The deadline still stands; however, not all accounts are blocked because some opened theirs with the national ID from the inception. But we will be reaching out via email and text,” the official wrote to one of our correspondents.

A News Agency of Nigeria report on Friday revealed that customers continued to besiege various bank branches in Lagos to meet the CBN deadline for linking BVN and NIN to their accounts.

The customers also asked the CBN to extend the deadline for them to link their BVNs and NIN with their accounts.

With the implementation of the directive, there was a significant gathering of customers at various banks as early as 8am on Friday to link their NINs with their bank accounts.

A security officer at a Guaranty Trust Bank branch in the Abule Egba area, while addressing customers who were eager to gain entry into the banking hall, said the message sent out by the bank to its customers concerning the directive was a random one.

He said not all customers that got the message were affected by the directive. This got the customers infuriated, as they said the bank should have sent out messages to only those affected. At another GTB branch in Egbeda, the bank advised customers to register online using specified codes displayed on the walls outside the banking hall.

However, at Polaris Bank, the crowd was not allowed to converge, and those who went into the banking hall were told by the customer service desk to produce their NIN slips.

Those without the slips were turned back. Customers who explained their mission to the bank’s security officers before entering the banking hall were told to get the slips.

Two bank employees used mini computers to do the first registration at the entrance before the security guards allowed the customers into the banking hall.

At Providus Bank on Nnamdi Azikiwe Road, customers were given forms and were assisted with registration simultaneously. The situation was similar at Wema Bank on Broad Street and other banks visited on Lagos Island.

Meanwhile, calls and text messages sent to the CBN spokesperson, Hakama Sidi, yielded no response as of the time of filing this report.

Announcing his death, Nollywood actress, Abiola Bayo wrote on her verified Instagram handle, “You will be greatly missed, Sisi Quadri. May your soul rest in perfect peace”.

Details later…

The Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Educational and Associated Institutions (NASU) have warned of potential disruptions to industrial peace in Nigerian universities

This is in reaction to the government’s refusal to release the salary that its members withheld, a circumstance that resulted from a strike in 2022 during the former President Muhammadu Buhari’s administration.

The unions, in a joint letter signed on Friday by the President of SSANU, Muhammed Ibrahim and General Secretary of NASU, Peters Adeyemi, questioned the rationale with which the government released four months withheld salaries to members of the Academic Staff Union of Universities but failed to release the withheld salaries of non-academic staff.

The unions noted that they would no longer be able to assure the government of industrial peace in universities should the amounts owed by the government are not released.

Earlier, the unions wrote protest letters to the Chief of Staff to the President, Femi Gbajabiamila, and the Minister of Education, Tahir Mamman, on February 13, 2024, over the exclusion of the Non-Teaching staff from the payment of outstanding four months salaries.

The letter read, “We are therefore shocked that two weeks after the letters had been sent and received by the appropriate quarters, the Federal Government has remained quiet and refused to take any step towards addressing this very sensitive issue and it seems as if the Federal Government is taking our maturity for granted.

“We like to confirm through this medium once again to the Federal Government that the pressure on us has intensified and we have done everything possible within our ambit to prevail on our members to maintain industrial peace and tranquillity.

“While we appreciate the Federal Government for paying our Academic counterpart, we also deem it necessary that our members are also paid. The various feelers we are getting from our members in the universities and inter-university ventres indicate that we can no longer guarantee and be able to sustain industrial peace in the university sector.

“We therefore use this opportunity once again to call on the Federal Government to do the needful within the next seven days as the Joint Action Committee of NASU and SSANU should not be held responsible should the wheel of administration and corporate governance be grounded to a halt in the University sector, as we have exercised enough patience.

“If nothing is done by the Federal Government to positively address this situation and respond to our previous letters to them, the members of the two Unions may be forced to meet soon to take all lawful and stringent decision on the matter.”

Abia state Governor, Alex Otti, says his administration is looking at the issue of N35,000 wage award approved by the federal government for workers with a view to implementing it.

Governor Otti made the disclosure when he received in the audience, the executive members of the Nigeria Labour Congress (NLC), Abia State Council, who were on a working visit. He said that a committee has been set up to that effect and has submitted its first report.

He however said that he directed the Committee to deepen its work and report to him, adding that he has directed the Commissioner for Finance to look at the discriminatory salary structure for health workers in the state as it concerns the issue of consolidated health salary structure (CONHES).

The Governor said that his administration will critically look into arrears of salary owed Abia workers in various MDAs and parastatals including ABSUTH, ASUBEB, ASCETA, Abia state Polytechnic, primary school teachers among others by the previous administration.

He also said that a team is working with the Nigerian Union of Pensioners to reach a resolution on how to defray the pension arrears owed pensioners in the state.

Governor Otti observed that there are still bad eggs in the system who still engage in padding of salaries and other vices, imploring the NLC to help identify such people who are stealing from the government.

“There are a lot of people who are collecting salaries but are not coming to work. My challenge to NLC is to help us, what they (ghost workers) are doing, they are stealing from you. It is very important you take it as a responsibility,” he said.

He noted that his administration may not be sharing money as was the case in the past, but that he is busy creating a conducive atmosphere for survival of every Abia citizen as well as bringing back all companies that left the state due to infrastructural decay.

Earlier, the State Chairman of the NLC, Comrade Ogbonnaya Okoro, appealed to the Governor to consider implementing the N35,000 wage bill approved for workers by the federal government, address the high-handedness of some government appointees against civil servants, offset arrears of salaries ranging from 3-30 months owed various categories of workers by the previous administration.

Comrade Okoro also used the forum to draw the attention of the Governor to the verification issue that has denied some workers their salaries for about 7 months now, alleging victimization of workers by Valumbra floor mill, Aba among other issues.

He commended Governor Alex Otti for his numerous achievements in office including keeping to his promise of paying salaries to Abia workers on 28th of every month, urging the Governor to see Abia workers as integral part of his administration.

“You are doing well and every Abian is happy. Things are happening. It shows that we did not make a mistake when we said we want change,” the NCL boss added.

Igbo traders and businessmen in Ilorin, the Kwara state capital, under the aegis of the Igbo Traders Association, closed their shops on Friday in protest against alleged intimidation and overtaxation of their businesses by the state revenue agency, the Kwara State Internal Revenue Service (KWIRS).

The Tribune newspapers gathered that the development left many traders and businessmen stranded in such locations as Oko Erin, Ibrahim Taiwo Road, and the General Hospital area, among other places in the state capital.

The Igbo traders said that the revenue agency stormed their shopping complexes at about 10:00 am with a revenue mobile court to prosecute them and lock up their business premises without being represented.

The people, who said that they are not indebted to the revenue agency, added that they are up to date in payment of their taxes and rates, describing the action of the revenue agency as unfair.

The businessmen also appealed to Governor Abdulrahman Abdulrazaq to assist with a tax waiver or tax holiday, considering the current economic hardship in the country. They said that many of their members stock their shops with goods received on credit.

The coordinator of the 22 zonal chairmen of Igbo traders associations in Kwara state, who is also the chairman of the building materials association in Surulere zone, Kwara state, Chief Aloysius Nwora, said that the tax office wanted to start collecting tax from individual members against an existing agreement with the agency to get the tax collectively.

Also speaking, the first vice president of the Igbo Traders Association, Chief Nathaniel Nwogu, led other leaders and members of the association to the revenue court premises and state House of Assembly to register their grievances. He said that some of the business premises locked up deals in perishable goods.

Chief Nwora, who suggested a roundtable discussion among representatives of the revenue agency, the state government, and the leadership of the Igbo Traders Association for an amicable solution, said that there would not be business growth and development in any unfriendly environment.

“For years, we’ve had this arrangement with the state tax office to collect our taxes collectively and submit them to them. In that way, we as a union have been able to identify our members who do not even have shops, or those who are three or four in a shop, and submit them to the tax office.

“Once we submit that money, the tax office will issue receipts based on the individual names we submit to them. The taxes are in categories of N7,000, N14,000, N25000, and N45,000 like that annually.

This continued until last year, when our members started to receive letters individually demanding another tax ranging from N700,000 to N1.5 million, etc. Most of the people written to had already paid with their receipts from the tax office. Some of us have tax clearance certificates at three-year intervals.

“When they tell the staff of the tax office that they have paid, the staff told them to subtract what they’ve paid before from the new bill they gave us, thereby calculating, like tax, the previous 10 years of outrageous sums like N10 million, N15 million, etc.

We went with our lawyers to explain to them that we’re only owing 2023 tax, which was supposed to be paid in November last year based on our agreement with them, and which we’re already gathering because we closed our meeting in November and opened it in February this year.

“Unfortunately, they wrote our members to pay N9.7 million within three days, threatening that if they fail to do so, they’ll bring a mobile court, judge him, and prosecute him in his shop. Most of the owners of the affected shops are not even around. They refused to listen to pleas from shop assistants and locked up the shops. That’s why all members locked all their shops in solidarity to say we’re not okay with the verdict passed by the court.

“There is a special court for tax and not a mobile court. We even have cases there,” he said.

Responding to the allegations, the Corporate Affairs Department of the KWIRS, on behalf of the executive chairman, Shade Omoniyi, said that the revenue agency conducted the mobile court on Friday to prosecute recalcitrant taxpayers in the state to ensure tax compliance.

“As part of efforts to ensure tax compliance by residents and business owners in Kwara State, the Kwara State Internal Revenue Service (KW-IRS) conducted a mobile court within some business premises in Ilorin today, March 1, 2024, to prosecute three recalcitrant high-net-worth business owners who hide under associations to pay lesser taxes than what is due.

“Having exhausted all necessary measures to ensure that taxpayers remit the appropriate taxes due to the state government without any positive results, KW-IRS resorted to enforcement on the recalcitrant taxpayers in the early hours of Friday as provided under the relevant state law.

“Speaking during the legal action at their respective business premises, the magistrate pronounced that the business facilities be sealed following the evidence before the mobile court that the accused taxpayers defaulted in exercising their civic obligations.

“Taxpayers are enjoined to pay their tax liabilities as and when due to avoid being caught on the wrong side of the law.”

There is tension within the camp of the All Progressives Congress (APC) in Ondo state as governorship aspirants in the party traded words over political violence in the state ahead of the party primary slated for next month, April.

This is just as President Bola Tinubu’s visit to the state was turned into a theatre of violence, attacking each other supporters, destroying and billboards by some hoodlums suspected to be political thugs.

While speaking on behalf of the aspirants, a former Finance Commissioner in the state, Wale Akinterinwa, who described the attack as barbaric, alleged that the attacks on his supporters were sponsored by those in government.

In a statement issued by Akinterinwa’s spokesperson, Segun Ajiboye, in Akure, said that “The thugs, who brazenly fired gunshots into the air to cause confusion, went on a destruction spree as they attacked property, while billboards of other gubernatorial aspirants were defaced, pull down or out rightly destroyed.

“Party members perceived to be loyal to all gubernatorial aspirants save for Governor Lucky Ayedatiwa, sustained varied and diverse degree injuries resulting from the attacks unleashed on them. T-Shirts, faze caps and other insignia wore by members of the targeted aspirants were torn to shreds.

“The thugs who carried out the orchestrated attacks were armed with all sorts of dangerous weapons. It is sad to note that many of our supporters with deep cuts are in the hospitals receiving treatments at the moment.

”It is, however, surprising that no aspirant other than the governor was spared of the attacks. Let me state here that the need for this press statement is not borne out of fear or inability to protect our supporters.

“We have the capacity to give adequate protection to all our members who have remained peaceful in the face of this dastardly attack.

Ajiboye said that, “We are also not unaware of the overriding need to save our dear state from an ugly reenactment of the dark days by those who harbor vaulting and mechanical ambition.

“At this juncture as members of the Wale Akinterinwa Campaign Organisation, we would also love to state that as responsible leaders and members of our party with genuine intentions to serve our dear people, we are unable and will not accept the imposition on the party members a regime of panic and fear in other to supplant popular participation in a democratic process aimed at emplacing accountable and responsive leadership.

“We, therefore, call on Mr President and the national chairman of the APC to prevail on Mr Governor to halt the use of thugs to advance his political interest. The field is wide enough for everyone to operate.

“Also, we urge all security agencies to not only to be on red alert against future occurrence but also ensure that those who carried out these dastardly attacks are apprehended and brought to books to serve as deterrent to others who may be emboldened by this barbaric act.

However, following the allegations of attacks and violence, the Chief Press Secretary to the governor, Prince Ebenezer Adeniyan, disclosed that Governor Lucky Ayedatiwa has ordered investigation and arrest of those behind the attacks.

According to Adeniyan, the governor who frowned over the destruction of campaign billboards by the hoodlums said his administration will not tolerate any form of violence that is capable of threatening the peace in the state.

The governor however, ordered law enforcement agencies in the state to fish out, arrest and prosecute those behind the destruction of billboard and engaged in violent activities

Condemning the destruction of the billboards and the attacks on political rivals during Tinubu’s visit to the state, the CPS in the statement said: “The attention of Ondo State Governor, Hon. Lucky Orimisan Aiyedatiwa, has been drawn to reports of alleged attacks on some persons and destruction of campaign materials in the wake of the visit of President Bola Ahmed Tinubu to the State on Wednesday.

“The Governor says his administration will not tolerate any form of violence that is capable of threatening the peace and tranquility of the state.

“As the Governor has said repeatedly, any political campaign that disturbs the peace in the State is unacceptable and must be met with the decisive actions of law enforcement agencies.

“It is pertinent to make it clear that nobody associated with the Governor or the government of Ondo State was involved in any of the reported activities ascribed to “political thugs” during the President’s visit to Owo and Akure.”

He added, “The Governor has therefore asked law enforcement agencies in the State to arrest and prosecute anyone found to be engaged in such violent activities.

“The Governor urges politicians and their followers to ensure that their campaigns are issue based, devoid of blackmail, spreading falsehood, inciting the public and intimidating opponents.”

But the aspirants maintained that the alleged attacks were orchestrated and carried out by some hired political thugs as well as members of the NURTW.

They noted that property, especially campaign billboards were allegedly pulled down and destroyed, while party members perceived to be loyal to the aspiration of other aspirants were attacked and sustained various degrees of injury.

Billionaire Elon Musk has filed a lawsuit against ChatGPT maker, OpenAi and the company’s co-founders, Sam Altman and Greg Brockman for turning the company into a profit-making venture. 

Musk, who co-founded and one of the early backers of OpenAI said the mission of the company was to be a non-profit that develops AI for the benefit of humanity.  

The Tesla CEO claims that Altman and Brockman convinced him to help found and bankroll the startup in 2015 with promises it would be a non-profit focused on countering the competitive threat from Google.  

According to the lawsuit, the founding agreement required OpenAI to make its technology “freely available” to the public. 

OpenAI’s partnership with Microsoft 

The lawsuit, filed in a court in San Francisco late Thursday, says that OpenAI, the world’s most valuable AI startup, has shifted to a for-profit model focused on commercializing its AGI research after partnering with Microsoft, the world’s most valuable company that has invested about $13 billion into the startup. 

• “In reality, however, OpenAI, Inc. has been transformed into a closed-source de facto subsidiary of the largest technology company in the world: Microsoft.  
• Under its new board, it is not just developing but is actually refining an AGI to maximize profits for Microsoft, rather than for the benefit of humanity. This was a stark betrayal of the Founding Agreement,” the lawsuit claims.  

According to the legal complaint, Musk donated over $44 million to the non-profit between 2016 to September 2020. For the first several years, he was the largest contributor to OpenAI, the lawsuit adds.  

About a year ago, Elon Musk had taken to his platform, X, to complain about OpenAI’s loss of focus.  

• “OpenAI was created as an open source (which is why I named it “Open” AI), a non-profit company to serve as a counterweight to Google, but now it has become a closed source, maximum-profit company effectively controlled by Microsoft. 
• “Not what I intended at all.” 

What you should know 

Musk left OpenAI’s board in 2018 and no longer holds a stake in the company. In December 2022 when ChatGPT just launched, Musk described ChatGPT as “scary good”, adding “We are not far from dangerously strong AI.” 

In February last year, Open AI introduced  a paid version of ChatGPT as it became a profit-oriented company. The subscription for ChatGPT Plus costs users $20 every month.  

The monetization of the service started just as a research report suggested that the AI tool reached an estimated 100 million monthly active users in January 2023, making it the fastest-growing consumer application in history. 

[Nairametrics]

President Bola Tinubu heartily congratulates a distinguished Nigerian, Alhaja Lateefat Olufunke Gbajabiamila, as she turns 94 on March 2, 2024.

President Tinubu celebrates Alhaja Gbajabiamila, an accomplished politician and doting philanthropist, whose life has been one of sacrifice, devotion to God Almighty, charity, and service to Nigerians; all strata of people, and humanity.

The President salutes Mama, who is the first elected female local government chairperson in Lagos State, extolling her as a leading light in the concourse of great women who have defined Nigeria's history.

President Tinubu thanks Alhaja Gbajabiamila for her support and unceasing prayers, assuring the nonagenarian that all her supplications for Nigeria will come to realization.

The President prays for Mama and her family that Almighty Allah, whom she has always faithfully served, will grant her many more years in good health.

Chief Ajuri Ngelale

Special Adviser to the President

(Media & Publicity)

March 1, 2024