Former Department of State Services (DSS) Director, Mike Ejiofor has urged Nigerian politicians to put national interests above personal ambitions.

He warned that without a stable Nigeria, there would be no country to govern.

Ejiofor stated this during an interview with Arise News on Wednesday.

“Our politicians should note that if there is no Nigeria, there is no place for them to govern. They must put Nigeria first,” he urged.

Speaking further, Ejiofor addressed President Bola Tinubu’s recent directive to reduce VIP security costs and stressed the need for broader security reforms, including establishing state police, especially to address political issues fueling unrest in the South.

In response to President Tinubu’s directives, he said “I will look at it from two angles: the security aspect and cutting down costs. I don’t see how he is going to cut down cost except through the reduction of vehicles.”

“So, I think the president must have looked at the extra vehicles and considered them wasteful. Now, with the increase in fuel prices, putting so many vehicles on the road will increase costs.”

From a security perspective, Ejiofor supported limited personnel for ministers and MDAs but voiced concerns about the abuse of police escorts by individuals with “no means of livelihood.”

He said, “We have cases of people with questionable character being protected by multiple police officers,” and cited a recent incident involving Mascot Ikwechegh.

“He was boasting that he would ‘use the police with him and deal with a driver.’ Such dishonorable actions damage the image of law enforcement.”

Ejiofor noted that past directives to limit police escorts have been inconsistently implemented. “If you recall, the Inspector General of Police directed the withdrawal of these police details.

“Now, over 120,000 officers are deployed for VIP protection, which depletes the police force’s available manpower for general duties.

“A lot of people are using police to abuse innocent citizens, which is very unprofessional.”

The Senate, yesterday, screened and confirmed the appointment of the seven ministerial nominees sent to it by President Bola Tinubu last week Thursday.

The screening of the nominees and their approval was done at the committee of the whole while their appointments were confirmed at plenary.

The ministers-designate and their ministries were Dr Nentawe Yilwatda (Humanitarian Affairs and Poverty Reduction); Muhammadu Dingyadi (Labour & Employment); Bianca Odumegwu-Ojukwu (Minister of State Foreign Affairs), and Dr Jumoke Oduwole (Industry, Trade and Investment).

Others were Idi Mukhtar Maiha (Livestock Development);  Yusuf Ata (State, Housing and Urban Development), and Dr. Suwaiba Ahmad (Minister of State Education).

The nominees answered specific questions which the senators asked them regarding the fresh ideas and plans they had for their proposed ministries.

Senators Enyinnaya Abaribe, Victor Umeh and Tony Nwoye, however, commended President Tinubu for appointing Bianca, wife of the late Igbo leader, Chukwuemeka Odimegwu-Ojukwu, and chieftain of the All Progressives Grand Alliance (APGA) as minister.

They said the development was an indication that Tinubu was committed to forming a Government of National Unity.

Bianca,  former Nigerian Ambassador to Spain, confirmed the South East senators assertion and emphasised that Nigeria would experience massive transformation if its citizens come together with a commitment to peace.

“I am here because I believe that if we are able to come together sincerely to commit to serving this nation, focusing on ensuring that we have peace, then the sky is the limit for this country.
She noted that the combined efforts of cultural, governmental, and diplomatic organisations could drive transformative change.

“There is hope for this country if we sincerely commit to unity and focus on peace, Nigeria’s potential is limitless.”

The Ministers-designate for the Ministry of Livestock Development, Idi Mukhtar Maiha, assured Nigerians that the issue of farmers-herders clash would be a thing of the past after developing the 417 grazing areas in the country.

The new ministry, he said, would develop a database of all the infrastructure that are animal husbandry related, meaning all the grazing reserves in the country.

“We also want to know all the cattle routes. We also want to know all the dams that are viable. From there, we will develop  those grazing reserves that have no legal inconveniences. The ministry intend to work with other critical stakeholders to make sure that this vision is realised,” he said.

The Minister-Designate for Trade and Investment, Dr. Jumoke Oduwole, pledged to continue with the economic policy of the Tinubu administration which focuses on investment, productivity, and job creation.

She noted that the, key reforms in monetary and fiscal policy aimed at stabilising the economy have started to deliver some results.

“Perhaps what we now need to deliver is the convergence of these two pillars of monetary and fiscal policy, with trade, investment, and industrial policies, to further drive growth,” she said.

The Court of Appeal in Akure, Ondo State, has postponed its decision on the appeal submitted by Ramon Adedoyin, the owner of Hilton Hotels in Ile-Ife, Osun State. He is seeking to overturn his death sentence for the murder of Timothy Adegoke, a postgraduate student at Obafemi Awolowo University.

Adedoyin and two of his hotel staff, Adeniyi Aderogba and Oyetunde Kazeem, were sentenced to death by an Osun State High Court, while three other staff were acquitted, and a receptionist received a two-year prison term.

Adegoke’s death occurred between November 5 and 7, 2021, during his stay at Adedoyin’s hotel.

The appeal panel, led by Justice Olufemi Akeju, withheld judgment on Tuesday after both parties submitted their arguments, with the court expected to notify them of the judgment date.

Representing Adedoyin, senior lawyer Kehinde Eleja (SAN) argued that the Osun State High Court failed to establish a direct link between Adedoyin and the murder, criticizing the judgment for alleged contradictions.

He questioned the court’s directive for Adedoyin’s estate to fund Adegoke’s children’s education while condemning him to death.

Prosecution lawyer Femi Falana (SAN) countered by presenting evidence, including a forged receipt and testimony that Adedoyin allegedly summoned hotel staff to fabricate alibis.

Falana further pointed to forensic findings, including blood stains in Adegoke’s hotel room, to substantiate claims of foul play. He urged the appellate court to uphold the trial court’s judgment.

Attorneys for the convicted staff also pleaded for acquittal, citing an inconclusive autopsy.

However, Falana argued the forensic evidence and the defendants’ alleged efforts to conceal Adegoke’s death contradicted their innocence.

Sub-national governments continued to grapple with a persistent reliance on borrowing to finance their budgets in 2023, as the total debt stock of the 36 states surged by 38.1%, from N7.25tn in 2022 to N10.01tn.

According to BudgIT’s 2024 State of States report released on Tuesday, the debt growth was partly driven by a N606.12bn increase in domestic debt, resulting in an average year-on-year growth rate of 11.4%. By 31st December 2023.

The total domestic debt stood at N5.86tn.

The situation was further complicated by rising foreign debt, which increased by 4.1%, from $4.43bn in 2022 to $4.61bn in 2023.

According to the report, the liberalisation of the exchange rate exacerbated the financial strain on states, significantly raising their foreign loan repayment obligations in naira terms.

Lagos State remained the most indebted in foreign currency, accounting for 26.9% of the total foreign debt, equivalent to $1.24bn.

Further analysis of the debt landscape revealed a considerable variance of N2.74tn in debt repayment obligations when comparing the exchange rate shift from N899.39 per dollar as of December 31, 2023, to the new rate of N1,492.9 as of June 2024. The devaluation exposed many states to heightened financial risk, particularly the eight states where more than 50% of the total debt is dollar-denominated.

Kaduna and Edo had the highest foreign debt-to-total debt ratios, at 86.06% and 60.54%, respectively.

The other states in this group—Ondo, Bauchi, Lagos, Enugu, Ebonyi, and Anambra—had ratios ranging from 50% to 59%.

The debt burden also varied significantly across the country, with the average sub-national debt per capita reaching N40,469 in 2023.

Twelve states exceeded this benchmark, with Lagos having the highest debt per capita at N138,034.

In addition to the existing debt stock, the states have exiting liabilities totalling N1.19tn: N408.69bn is owed in contractor arrears, N521.36bn is owed in pension and gratuity arrears, N79.64bn is owed in salary and other staff claims, N4.36bn is owed in judgement debt and other pending litigation, and other payables and liabilities amount to N182.79bn.

The report advised that to achieve debt sustainability, states need their appetite for accumulating foreign loans amidst exchange rate volatility and shrinking fiscal space to minimise their exposure to unfavourable exchange rates.

“Domestic revenue mobilisation should be strengthened to reduce borrowing needs and budget deficits.

“States should implement fiscal reforms that broaden the tax base and formalize economic activities.

“Furthermore, states should establish robust frameworks for debt transparency and accountability, ensuring that borrowed funds are directed towards high-impact projects with clear economic returns. Enhanced coordination between federal and state governments is essential for monitoring debt sustainability and providing guidance on borrowing limits to safeguard fiscal stability,” BudgIT advised.

The World Bank has advised the Federal Government to prioritise providing jobs for the Nigerian youths.

The World Bank’s Country Director for Nigeria, Ndiame Diop gave the advice in the wake of critical reforms made by the Bola Tinubu’s administration, which had thrown the country into skyrocketing inflation and increase in costs of living.

Tinubu in May 2023 declared an end to fuel subsidies, a move that has increased prices of Premium Motor Spirit (PMS) from N175 per litre to officially N1,025 per lire in Lagos state at the Nigerian National Petroleum Company Limited (NNPCL) stations.

Following the development, the world’s apex bank in its Nigeria Development Update Report, titled “Staying the Course: Progress Amid Pressing Challenges,” said going forward, it is most crucial for the government to provide jobs for its citizens, youths especially, to help them cope with the hardship.

“Nigeria took the bold and courageous move to undertake difficult but critical reforms. This against the backdrop of an already fragile economic position, high food and transport inflation, and other heightened uncertainties. If these reforms were not done, Nigeria would have fallen into a serious fiscal crisis that would have made it difficult for government to meet its obligations to citizens.

“It will be important to consolidate the improving fiscal outlook and scale up the support for the poorest households to cope with purchasing power losses and hardships, while expanding opportunities for growth and productive jobs, especially for young Nigerians is most urgent and crucial”.

Stop Ad-Hoc FX Auctions

It urged the Central Bank of Nigeria to refrain from intervening in the foreign exchange market through forex auctions.

It was also advised to continuously reaffirm the commitment to exchange rate flexibility by adopting a comprehensive, systematic, and transparent framework for foreign exchange interventions.

The advice followed the auction of $876.26m to end users via a retail Dutch auction on August 26, 2024, by the CBN.

The major move was away from its traditional sales of foreign exchange to Bureau De Change operators.

This auction marked one of the most significant FX interventions by the CBN under the leadership of Governor Yemi Cardoso, who has been actively working to stabilise the naira and address the ongoing volatility in the FX market.

The apex bank said the auction process was to enhance foreign exchange liquidity in the market, alleviate demand pressure, and support price discovery in alignment with its objectives.

According to the sales report, 3,347 firms got access to the dollars via the 26 banks, which qualified at the rate of N1,495 per dollar cut-off rate.

But the Bretton Woods Institution in its latest report noted that permitting market participants to trade FX with more flexibility across time would also contribute to deepening the FX market.

The report read, “Exchange rate policy should continue to be geared towards maintaining a unified, market reflective exchange rate, whilst deepening the FX market. The CBN should continue efforts towards deepening the official FX market, including by facilitating formal remittances inflows, allowing international oil companies to fully concentrate their FX sales in the official market, restoring intermediated market access to bureaux de change, and refraining from ad-hoc FX auctions.

“Allowing market participants to trade FX with more flexibility across time would also contribute to deepening the FX market.”

Nkechi Blessing, the Nollywood actress, has spoken up on the main reason why she waited for three years before apologising to the Theater Arts and Motion Pictures Practitioners Association of Nigeria (TAMPAN) leaders.

Recall that over the weekend, the thespian had apologized on her knees at the Celebrities Entertainment Awards in Canada, seeking forgiveness and readmission to the association.

Speaking on the reason she took her time to apologise, Nkechi explained that she is trying to change a lot about herself and has decided to reconnect with the industry.

The actress stated that in the past, she never listens to anybody or take corrections but has decided to change that about herself.

In a social media post, she wrote, “I was that Nkechi who doesn’t listen to anybody, who doesn’t take corrections from people.

“Now, in trying to change a lot about myself, I’ve decided to reconnect with the industry that made me who I am.”

She explained the suspension resulted from behaviour deemed rude, uncouth, disrespectful, and abusive towards industry elders.

Captioning the post, she wrote, “CHANGE Comes with a lot of soul searching,sober reflections and most importantly PEACE within yourself,body,mind and soul….The things I know now, I wish I knew earlier I for don pass this level but still I am Thankful to God for Direction and guidance I tender my unreserved apology to the entire Body of the Guild @tampanglobal

“Hoping they find a place in their hearts to forgive me. TAMPAN BOARD OF TRUSTEES National Central working Committee National executive councils. All states,local and stakeholders both in Nigeria and in the diaspora!!!!!! My daddies @mrlatin1510 @princejidekosoko @deleodule_ @adebayo.salami @officialyinkaquadri and every single member of the Association #tampan”.

The Senate has commenced the screening of the seven newly nominated ministers.

The nominees are Dr Nentawe Yilwatda as Minister of Humanitarian Affairs and Poverty Reduction, Muhammadu Dingyadi as Minister of Labour and Employment, Bianca Odumegwu-Ojukwu as Minister of State, Foreign Affairs, and Dr. Jumoke Oduwole as Minister of Industry, Trade and Development.

Others are: Idi Muktar Maiha as Minister of Livestock Development, Rt. Hon. Yusuf Ata as Minister of State, Housing, and Dr Suwaiba Said Ahmad as Minister of State, Education.

The Senate following a motion moved by the leader, Opeyemi Bamidele at 12:57 pm, on Wednesday suspended its rule to admit the Special Adviser to the President on Senate matters, Basheer Lado, to bring the nominees into the plenary.

The Senate President, GodsWill Akpabio, had on Thursday read the letter from President Bola Tinubu nominating the new ministers.

This development follows President Tinubu’s recent reshuffle of his cabinet, including the dismissal of five ministers: the Minister of Women Affairs, Uju-Ken Ohanenye; Minister of Tourism, Lola Ade-John; Minister of Education, Prof. Tahir Mamman; Minister of State for Housing and Urban Development, Abdullahi Muhammad Gwarzo; and Minister of Youth Development, Dr Jamila Bio Ibrahim.

China has a new richest person and it’s the entrepreneur behind the app TikTok.

Zhang Yiming, 41, co-founder of TikTok’s parent company ByteDance, topped the 2024 Hurun China Rich List, released Tuesday, October 29.

His wealth reached $49.3 billion, as assessed by research, media and investment group Hurun Inc, which publishes the ranking of the country’s richest people.

Zhang’s ascendency comes after ByteDance’s global revenue grew 30% last year to $110 billion, Hurun said.

Since its official launch in May 2017, TikTok has been catapulted to mass global popularity as well as becoming an era-defining social media platform beloved by many young people around the world.

Zhang owns 20% of ByteDance, which he co-founded with college roommate Liang Rubo in Beijing in 2012. He stepped down as its CEO 2021 after building ByteDance into one of the biggest names in Chinese tech.

ByteDance also holds China’s popular news app Toutiao and Douyin, TikTok’s sister app in China.

Zhang’s rise to the top of the rich list knocked China’s “bottled water king” Zhong Shanshan out of the lead spot for the first time in three years, though he remained second.