Seun Anikulapo-Kuti, the Afrobeat musician, has berated President Bola Tinubu over his decision to remove fuel subsidy.

He said contrary to the President’s claim that the removal of fuel subsidy was a “tough” decision he made for the overall interest of the country, it was a “wicked decision” that undermined the welfare of Nigerians.

Kuti slammed the Presidency’s decision to buy a $150 million jet while the educational sector is underfunded. He argued that the money spent on acquiring a new jet for the President was enough to build and run 10 primary schools for 20 years.

Speaking during a recent Instagram Live session, the outraged singer asked, “Who donated for the $150 million jet for Tinubu? Who did they ask for donations?

“That $150 million do you know how many schools it will build? Or how long it will run a primary school? 10 good primary schools would be run on that money for at least 20 years. 10 good primary schools would be built and run, that will educate ten generations of African people,” Kuti added.

He continued: “The President cannot tell us that this petrol matter is not in his control. He is the President and Minister of Petroleum. They say they take tough decisions but there is no tough decision taken here. President Tinubu took a wicked decision, this whole subsidy and floating the dollar, there is nothing tough about it.”

Akande explained that the establishment of the refinery introduces a conflict of interest. He pointed out that the NNPCL’s primary business involves importing refined petroleum—a highly lucrative segment and prone to corruption. “The main business of NNPCL is importing refined petroleum. Dangote’s refinery threatens this lucrative segment, which is why there’s so much drama and conflict between NNPC and Dangote Refinery,” Akande said.

He further criticized the ongoing dispute between NNPC and Dangote Refinery, attributing it to the disruption of entrenched interests benefiting from NNPC’s long-standing monopoly on refined petrol imports. “Dangote has challenged the entrenched interests that have benefited from NNPC’s sole importation of refined petrol for decades,” Akande added.

Akande also expressed surprise at the lack of decisive intervention from the Nigerian President. “I’m surprised that the President hasn’t addressed this issue more directly to restore confidence in the regulatory process,” he remarked, calling for presidential action to address the regulatory challenges and restore integrity to Nigeria’s petroleum sector.

Former Nigerian President Olusegun Obasanjo has revealed that the Nigerian government provided $20 million to support Angola’s fight for liberation. He made this known during the commemoration of Angola’s National Founder and Hero’s Day in Lagos, an event held on September 17, 2024.

The event, themed “Pan-Africanism in the Political Course by Agostinho Neto,” was organized by the Embassy of Angola in Nigeria to honour Angola’s first President, Agostinho Neto, who declared the country’s independence on November 11, 1975.

In his address, Obasanjo highlighted the critical role played by former Cuban President Fidel Castro in Angola’s liberation and praised his significant contributions. He emphasized Nigeria’s financial support to Angola during the struggle, stating, “The Nigerian government supported the Angolan government with $20 million in their fight for liberation.”

Obasanjo also called for stronger pan-African economic ties, stressing that Africa’s future depends on economic unity. “As far as Pan-Africanism is concerned, as long as we are economically weak, we are going nowhere, and we can’t do it alone,” he said.

He further emphasized the need for Africa to achieve economic liberation, building on the foundation laid by leaders like Neto. Obasanjo urged African nations to focus more on economic Pan-Africanism, noting that while political and cultural unity has made strides, economic emancipation is crucial for the continent’s growth.

Angolan Ambassador to Nigeria José Zau highlighted Neto’s significant impact on African brotherhood and praised Lagos for its historical connection to the late president. He recalled that the University of Lagos honoured Neto with a Doctor Honoris Causa in the 1970s during Obasanjo’s regime, cementing his place in African political history.

Nigeria’s Foreign Affairs Minister, Yusuf Tuggar, reaffirmed the strong bond between Nigeria and Angola. Represented by Olamide Adediro, he stated that Nigeria is committed to deepening the partnership with Angola, working together to overcome challenges and achieve Africa’s collective aspirations.

As the Edo State governorship election draws near, a former Vice President, Atiku Abubakar, has said voting for All Progressives Congress in the state would be an endorsement of misery and hardship.

He urged the voters to ask themselves if the APC has made life better, or only deepened their struggles before casting the ballot.

He also said the APC has plunged Nigeria into an abyss of suffering and has sown seeds of poverty, despair, and insecurity.

Atiku made this known in a statement on his Facebook on Wednesday titled ‘The clear choice for a prosperous Edo State’.

”They criticized past leaders for raising fuel prices, yet today, they preside over an era where fuel costs soar above N900 per litre. Their cruelty and disregard for the plight of the masses are unmatched. A vote for the APC is a vote for the continuation of misery, hunger, and despair,” Atiku, who was the Peoples Democratic Party presidential candidate during the 2023 general elections, said.

“Do not be swayed by the empty promises of the APC. Electing Dr. Asue Ighodalo of the PDP is not just a vote; it is an act of reclaiming our future. It is a choice to consolidate the good work of Governor Godwin Obaseki and to build a future of prosperity, dignity, and hope,” he added.

According to him, the power to break free from the chains of bad governance, and the power to chart a new course for Edo lies in the residents’ which must be used as a tool for change.

Atiku said, ”The APC has donned the mask of a friend to the masses, but behind this veil lies a sinister reality. They have lured gullible voters with sweet promises, only to reveal their true nature— a party driven by a hunger for power rather than the well-being of the people.

”They have forsaken the ideals of governance, ignoring the cries of the common man while pursuing their selfish ambitions. Under their watch, Nigeria has been plunged into an abyss of suffering. They have sown seeds of poverty, despair, and insecurity.

”The once vibrant spirit of our nation has been dimmed by a relentless struggle for survival, where even the simplest of needs, like food, have become out of reach for millions. In this grim reality, our people are not dying of disease but of hunger. We stand at the lowest point in our nation’s governance.

”The APC has not served the people; they have served themselves. And when the people, rightfully aggrieved, have raised their voices in protest, they have been silenced, dragged to courts under charges of treason. Meanwhile, the APC’s leaders bask in luxury, indifferent to the hardship that grips the nation.”

The former vice president said despite the gloomy situation, the PDP candidate was ready to serve with competence and a genuine commitment to the people’s welfare.

”People of Edo State, the time has come to use the power vested in you. As you go to the polls, ask yourself: Has the APC made your life better, or has it only deepened your struggles?

”The answer is clear. Your vote for Ighodalo will not only bring change to Edo State but will also send a resounding message across Nigeria that we reject the deceit and self-serving ways of the APC.

”Let us march to the polls this Saturday, united in our resolve to bring about the change we so desperately need. Let us cast our votes for Asue Ighodalo and usher in a new dawn for Edo State. The power is yours. Use it wisely,” Atiku said.

Elon Musk’s brain-chip startup, Neuralink, has received the US Food and Drug Administration’s “breakthrough device” designation for the company’s experimental implant, Blindsight.

The device, called ‘Blindsight,’ is designed to restore vision in individuals with complete or partial blindness, including those with non-functional optic nerves.

“We have received Breakthrough Device Designation from the FDA for Blindsight.

“Join us in our quest to bring back sight to those who have lost it. Apply to our Patient Registry and openings on our career page,” Neuralink wrote on its X page on Tuesday.

According to Reuters, the FDA awards its breakthrough designation to medical devices that treat or diagnose life-threatening conditions, expediting their development and review.

Musk also announced the update on his X social media platform, highlighting Blindsight’s potential to restore vision in even the most severe blindness cases.

“The Blindsight device from Neuralink will enable even those who have lost both eyes and their optic nerve to see.

“Provided the visual cortex is intact, it will even enable those who have been blind from birth to see for the first time.

“To set expectations correctly, the vision will be at first be low resolution, like Atari graphics, but eventually it has the potential to be better than natural vision and enable you to see in infrared, ultraviolet or even radar wavelengths, like Geordi La Forge.” Musk wrote on X.com.

Neuralink, co-founded by Elon Musk in 2016, specialises in developing innovative brain-computer interfaces to transform treatments for neurological disorders.

Neuralink’s technology includes a brain implant that reads neural signals and wirelessly transmits them to external devices, including computers and mobile devices.

Business World reports that Neuralink is also developing an implant that enables paralyzed individuals to control digital devices with their thoughts.

Neuralink is also reported to be conducting a clinical trial with three participants to evaluate the device’s effectiveness in aiding individuals with spinal cord injuries.

It was widely reported in August 2024 that Neuralink’s brain-computer interface was successfully implanted in a second patient, who is now controlling video games and creating 3D designs using only their thoughts.

The Ogun State Police Command has arrested a man named Tahiru Hamidu for allegedly engaging in unlawful sexual intercourse with a mentally unstable married woman (name withheld) in the Owode community, located in the Obafemi-Owode Local Government Area of the state.

The spokesperson for the state police command, Omolola Odutola, confirmed the arrest to our correspondent on Tuesday.

PUNCH Metro learnt that the suspect allegedly exploited the survivor’s condition to engage in non-consensual sexual intercourse on multiple occasions before he was apprehended by the men of the Owode Egba Division on September 12, 2024.

The suspect was also accused of threatening to murder the survivor’s brother-in-law, known only as Shofolahan, if he did not permit him to continue raping his brother’s wife.

On one occasion, Hamidu, a suspect from Northern Nigeria, was accused of luring the survivor to a cassava plantation, where he allegedly raped her multiple times before releasing her.

Odutola said, “The survivor is mentally incapacitated. The brother-in-law who reported the case claims that the suspect threatened to kill him to prevent him from stopping the crimes. The suspect is accused of repeatedly engaging in sexual acts with the survivor.

“The suspect is also accused of luring the survivor to a cassava plantation in the community, where he allegedly engaged in non-consensual sexual intercourse with her repeatedly.

“He began threatening the brother-in-law, warning him to stop preventing him from having sexual intercourse with the survivor and demanding that he hand her over to him.”

Odutola added that the investigation into the crime was ongoing following the suspect’s arrest.

PUNCH Metro reported a similar incident in March 2024, where a 26-year-old man named Usman Bube was arrested for allegedly attempting to rape his pregnant neighbour’s wife at the Ogatalo Fulani Camp in the Imala area of the state.

The suspect allegedly broke into his neighbour’s apartment, where he found the pregnant woman sleeping, and attempted to commit the crime, knowing that her husband, Muhammed Awwalu, had travelled out of the community, leaving his wife alone in the apartment.

When the suspect’s repeated attempts to forcefully engage in unlawful sexual intercourse with the woman failed, he allegedly pulled out a knife and tried to silence and overpower her.

However, he was apprehended by other neighbours before he could succeed.

Governors elected on the platform of the Peoples Democratic Party, (PDP) have once again pledged their support to the Governor of Rivers State, Siminalayi Fubara.

They insisted that Fubara is the leader of the party in the state.

Recall that the Minister of the Federal Capital Territory (FCT), Nyesom Wike had warned the PDP governors to steer clear of Rivers State, threatening that he will set fire in their various states if they interfere.

However, responding to Wike’s controversial outbursts, the Chairman of PDP Governors’ Forum, Governor Bala Mohammed said there is no going back on their support for Fubara.

Speaking on Tuesday when he received the delegation of the party’s National Working Committee (NWC) Mohammed, said party stakeholders were working behind the scene to bring Fubara and Wike together.

Addressing journalists shortly after the meeting, Mohammed added that as the number one member of the PDP in Rivers state, Governor Fubara should be allowed to have control over the party’s structure.

He told reporters that the NWC delegation has supported “the decision of the PDP Governors’ Forum to back Rivers State Governor Similayi Fubara as the leader of the PDP in the state.

“The decision is in order and that is how it is supposed to be. Governor Fubara is the leader of the party in the state. It is along this line that we collectively agreed for the rule of law, and the delegation gave their firm commitment and support for the position of the PDP Governors Forum in Rivers State.”

“We all know the relationship between the FCT Minister and the current Governor of Rivers state which is that of the mentor and the mentee. We are working behind the scenes to ensure they come together to work together in a manner that PDP is known for.

“Certainly, it is not something we can dictate here but we have summoned the courage and the will to ensure that the correct thing is done.”

Fraud involving computers, mobile devices, and point-of-sale (POS) systems dominated fraudulent activities across Nigeria during the second quarter of 2024.

This was revealed in the latest fraud report by the Financial Institutions Training Centre (FITC), which recorded a total of 11,532 fraud cases in the period under review.

According to the report, computer/web fraud, mobile fraud, and POS-related fraud emerged as the most frequent, continuing a pattern observed throughout 2023 and into the first quarter of 2024.

The total value of fraud in the second quarter was reported at ₦56.3 billion, marking a significant rise from the ₦34.8 billion documented in the first quarter of the year.

Of this amount, ₦42.6 billion was successfully stolen by fraudsters, while financial institutions managed to recover ₦13.7 billion.

Mobile fraud, including fraud carried out via mobile apps and internet banking, accounted for 33.4% of the total cases, making it the largest category.

POS-related fraud followed closely, contributing 24.6% of cases, while web-based fraud represented 16.9% of the total fraud incidents.

The report also highlighted computer-based fraud as a growing concern, showcasing the increasing threat posed by cybercriminals within Nigeria’s financial landscape.

FITC’s findings indicated that bank branches bore the brunt of the losses, with 95% of the total fraud value occurring at the branch level.

Despite advancements in technology, fraud continued to be perpetrated both by external actors and insiders, with 49 employees being dismissed for their involvement in fraudulent activities during the quarter.

The report also ranked fraud by magnitude, revealing that bank branches lost approximately ₦54 billion, which accounted for a staggering 95.63% of the overall fraud amount.

Web-based fraud followed with losses of ₦1.2 billion (2%), while POS and mobile fraud each contributed around 1%, resulting in ₦651 million and ₦547 million losses, respectively.

Notably, the report observed a 31.8% decline in card-related fraud. However, cheque and cash fraud surged significantly, leading to substantial financial losses.

This rise in cash-related fraud underscored that criminals are still exploiting traditional financial tools to their advantage.

FITC stressed the urgency of leveraging advanced technology, including artificial intelligence, to combat the rising complexity of fraud in Nigeria’s financial sector.

The report called for proactive measures, such as bolstered security systems and continuous training of staff, as critical to reducing fraud.

As fraudsters exploit both modern and traditional channels to target financial institutions, FITC emphasised the need for tighter regulatory oversight and the adoption of cutting-edge technology to protect the financial sector from future threats.

The report also disclosed that commercial banks lost a total of ₦42.6 billion to fraud and forgeries between April and June 2024.

The Central Bank of Nigeria (CBN) has approved a new chairman and board of directors for Keystone Bank.

This was confirmed in a statement on Wednesday by Keystone bank, in which it noted that the move was part of the apex bank’s strategy to ensure sustained growth for the financial institution.

The CBN appointed a new board chairman, five non-executive directors and two new directors.

Recalls the CBN had confirmed in January that it had dissolved the board and management of Union Bank, Keystone Bank, and Polaris Bank.

The apex bank, in a statement signed by its acting director of Corporate Communications, Sidi Ali Hakama, said the move became necessary due to the non-compliance of these banks and their respective boards with the provisions of Section 12(c), (f), (g), (h) of Banks and Other Financial Institutions Act, 2020.

According to the fresh statement on Wednesday, Lady Ada Chukwudozie has been appointed as the new board chairman.

The five other non-executive directors are Abdul-Rahman Esene, Mrs. Fola Akande, Akintola Ayodeji Olusoji, Obijiaku Samuel, and Senator Farouk Bello.

In addition, the CBN also named two new executive directors, Ladi Oluwole and Abubakar Usman Bello.

Lady Ada Chukwudozie, a prominent figure in Nigeria’s corporate sector, brings nearly three decades of experience in business strategy, management, and administration.

Her expertise cuts across multiple industries, including De-Endy Industrial Company Limited, Dozzy Group, the Manufacturers Association of Nigeria, and Vogue Afrique Magazine.

Abdul-Rahman Esene, with over 43 years of experience in banking, investment management, and corporate finance, has held leadership roles in major institutions such as Fidelity Bank, Afrinvest, and Global Arbitrage International Inc.

Mrs Fola Akande boasts over 25 years of experience in legal, compliance, and risk management, having worked with global brands like Cadbury, Stanbic Chartered Bank, and Shell.

Akintola Ayodeji Olusoji has a distinguished 30-year career in accounting, finance, and business development, having served at institutions such as Sterling Bank, Access Bank, and Intercontinental Bank.

Obijiaku Samuel, with more than 35 years of experience in banking and treasury operations, has left a significant mark on Nigeria’s financial sector, previously working with Zenith Bank and Fidelity Bank.

Senator Farouk Bello, a seasoned banker with over 20 years of experience, has led initiatives across both the public and private sectors, including the National Assembly and Guaranty Trust Bank.

Meanwhile, the two new executive directors bring their vast expertise to the table. Ladi Oluwole, the new Executive Director of Risk Management, comes with over two decades of experience in credit and enterprise risk management, including previous roles at Bank of America. Abubakar Usman Bello, Executive Director for the Northern Directorate, has extensive experience managing corporate, retail, and public sector clients.

Speaking on the appointments, Keystone Bank’s Managing Director and CEO, Hassan Imam, expressed confidence in the new board members, stating that their wealth of experience would play a crucial role in the bank’s continued repositioning and growth.

“We are pleased to welcome the new chairman, non-executive directors, and executive directors to the board of Keystone Bank. We are confident that their extensive experience will be invaluable as we continue to reposition the bank to seize emerging economic opportunities while maintaining strong corporate governance and providing our customers with a secure and reliable banking experience,” Imam said.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has denied suggestions that the Nigerian National Petroleum Company Limited (NNPCL) has been allowed to usurp its powers by determining the price of petrol coming from Dangote Refinery.

The NMDPRA maintained that the deal between Dangote Refinery and NNPCL was based on a willing seller and willing buyer relationship.

The Chief Executive Officer of NMDPRA, Engr. Farouk Ahmed, who made the submission, said in line with the provisions of the Petroleum Industry Act (PIA), 2021, the interaction of market forces is what determines the price of petrol in the country since the government has deregulated the sector.

He added that the role of the NMDPRA is not to allow anyone to go overboard by exploiting the market or the final consumers.

Naija News recalls after lifting petrol from Dangote Refinery as the sole buyer of products from the facility, the NNPCL released a price template which indicates ₦950.22 as the average price of a litre in Lagos State, and ₦1, 019.22 per litre for Borno State, the longest and extreme end of the supply route.

This development raised concerns among stakeholders and industry watchers, with insinuations that the NNPCL had taken over one of the key functions of the NMDPRA.

But speaking in a chat with Daily Trust on Tuesday, Engr. Ahmed said the controversy generated by the action is needless.

He submitted that the pump price announced by the NNPCL was meant for its outlets across the country, and other marketers are not bound by the prices.

“We try to restrain ourselves from needless controversy,” he said.

“But to put the record straight, the recent transaction between NNPCL and Dangote Refinery is strictly based on a willing buyer and a willing seller.

“But I know you will ask me that the supply is not sufficient in Nigeria, hence the high price. Of course, things would work fine when we have more players in the sector.

“But in a situation whereby some Nigerians expect us to regulate the price, it then means that the sector has not been deregulated; and it means we would continue to have problems,” he added.