FEATURES
![[Full List] Okonjo-Iweala, Mo-Abudu in as Forbes unveils 2024 world’s most powerful women](/media/k2/items/cache/c6baacb4eaee17da1d4b1eee1b1e1e0e_L.jpg)
Director-General of the World Trade Organization, Ngozi Okonjo-Iweala, and media mogul Mo Abudu have once again been recognized in Forbes’ annual 100 Most Powerful Women in the World list, solidifying their status as global powerhouses.
Okonjo-Iweala ranks 89th on the prestigious list, marking her eighth appearance. She was previously featured in 2011, 2012, 2013, 2014, 2015, 2022, and 2023.
Abudu, who ranked 97th, celebrated her fourth consecutive year on the list.
The founder of EbonyLife Media expressed her gratitude and pride, saying, “I am deeply humbled to feature once again on the Forbes World’s 100 Most Powerful Women list. It is an incredible honor to represent the media and entertainment sector, to stand as a proud Black woman, and to fly the flag for Nigeria and Africa on this prestigious global platform.”
She extended congratulations to her fellow honorees, particularly Okonjo-Iweala, stating, “A huge congratulations to all the phenomenal women on this list! A special shoutout to my dearest sister, Ngozi Okonjo-Iweala, whose unwavering brilliance and leadership inspire us all year after year.”
Abudu highlighted the significance of global recognition for women of color and those from developing nations. “Representation matters. When we see women of color, women from developing nations, and women breaking barriers in all industries recognized on a global stage, it reminds us of what’s possible. It’s a call to action for us to continue breaking ceilings, forging paths, and lifting others along the way,” she noted.
She also expressed appreciation to Forbes, saying, “Thank you, Forbes, for celebrating the power, resilience, and impact of women worldwide. Here’s to more women rising and rewriting the narrative.”
Abudu first appeared on the list in 2021 at 99th place. She climbed to 91st in 2022 and was ranked 98th in 2023 before making this year’s list at 97th.
Other Africans on the 2024 list include Judith Suminwa Tuluka from the Democratic Republic of Congo, Mpumi Madisa from South Africa, and Tanzania’s President Samia Suluhu Hassan.
The Forbes World’s 100 Most Powerful Women list celebrates trailblazing individuals making transformative impacts across business, politics, entertainment, and technology.
Below is the top 10 women who topped the list of the 2024 most powerful women in the world.
Ursula von der Leyen, president of the European Commission
Christine Lagarde, president of the European Central Bank
Giorgia Meloni, prime minister of Italy
Claudia Sheinbaum, president of Mexico
Mary Barra, CEO of General Motors
Abigail Johnson, CEO of Fidelity Investments
Julie Sweet, chairwoman and CEO of Accenture
Melina French Gates, philanthropist
Mackenzie Scott, philanthropist
Jane Fraser, CEO of Citigroup
See list of 11-100 here.
[Vanguard]
The court of appeal in Abuja has set aside the judgment restraining the Central Bank of Nigeria (CBN) from disbursing financial allocations to the Rivers state government.
The three-member panel, on Friday, ruled that the subject matter of the state’s appropriation bill is not within the jurisdiction of the federal high court.
The Hamman Barka-led appellate court held that the lower court lacked the jurisdiction to entertain the matter and issue an order contained in the judgement.
The court upheld the argument of Chris Uche, a senior advocate of Nigeria (SAN) and counsel to the Rivers state government, that the federal court has no authority to entertain dispute about states’ revenue.
The appeal court said the listing of federal agencies in the suit does not confer the jurisdiction on the federal high court.
The judge said “the trial court lacked the subject matter jurisdiction to entertain the suit. The suit is struck out and all orders made therein are set aside for want of jurisdiction”.
JUDGMENT OF LOWER COURT
In October, a federal high court in Abuja restrained the CBN from further disbursing financial allocations to the Rivers state government.
Joyce Abdulmalik, the presiding judge, held that monies from the federation account should not be released to the state pending the passage of a lawful appropriation act by a validly constituted house of assembly.
Abdulmalik had issued the order while delivering judgment on a suit filed by the Rivers state house of assembly led by Martins Amaewhule.
The judge ruled that Siminalayi Fubara, the Rivers governor, was wrong to have presented the state’s 2024 appropriation bill to a five-member assembly “that was not properly constituted”.
In December 2023, Fubara presented an N800 billion budget estimate to the Edison Ehie faction of the house of assembly.
The presentation of the budget titled ‘Budget of renewed hope, consolidation, and continuity’ took place at the government house.
Only five lawmakers loyal to Fubara were present during the budget presentation.
The lawmakers in Amaewhule’s faction rejected the budget presentation and instituted a suit against Fubara.
The Rivers house of assembly has been polarised following the rift between Fubara and Nyesom Wike, minister of the federal capital territory (FCT).
[TheCable]
The Federal High Court, Abuja, on Friday, granted the immediate past Governor of Kogi State, Yahaya Bello, bail in the sum of N500 million with two sureties in like sum.
This was after the former governor had pleaded not guilty to the 19-count charges brought against him by the Economic and Financial Crimes Commission.
He is facing an alleged money laundering trial to the tune of N80bn but pleaded not guilty to all the charges.
When the case was called for hearing on Friday, Counsel for the EFCC, Kemi Pinheiro, SAN, notified the court of the intention of the prosecution to withdraw an earlier application for abridgment of the earlier date fixed for arraignment.
He said the application had been overtaken by events. The defendant’s counsel, led by Joseph Daudu, SAN, did not object, and Justice Emeka Nwite accordingly granted the request.
After the defendant had taken his plea, Daudu, SAN, made clarifications on the reasons he had not been in court during the previous hearings.
“I would like to place on record that for any impression that might have been created that the defendant did not wish to appear before your lordship, coincidentally, the ruling on my lord’s sitting this morning dealt with the issue of jurisdiction.
“What the defendant did was to ask his counsel to challenge the jurisdiction of the court, which got to the Court of Appeal and the Supreme Court.
“So it was not wishful disrespect, but he was only trying to defend himself. So we all hold your lordship in high esteem. If that impression must have been, he should not have presented himself for arraignment. That episode is gone, and things are clearer now,” the counsel stated.
While moving an application for bail, he assured that the former governor would always be present in court for the trial.
“I am saying this with the highest sense of responsibility that the defendant, a two-term governor of Kogi State who travelled only two times out of his eight years in service, will always be present in court at all times.
“There should be no apprehension that he will jump bail. So we urge your lordship to grant us very reasonable conditions of bail such that he will be able to bear,” the defendant’s counsel said.
He commended the prosecution counsel, saying he had conducted himself in the best tradition because the matter was not a do-or-die one.
He said they had agreed that the counsels would not stress his lordship over the issue of bail.
The prosecution counsel concurred.
Pinheiro, SAN, said, “I must express my honour to the very eminent lead senior counsel. He is a man of immense stature, not because of his size.
“I do respect him as former president of NBA. I also confirm that we have been engaging in a series of discussions to ease the burden on your lordship in compliance with Rule 26 of the Rules of Professional Ethics.
“I also note that your lordship had delivered not less than five rulings in this matter and it is our aim to ease the work. We are prosecutors, not persecutors, and EFCC is a professional commission, a prosecutorial, and not prosecutorial commission,” he said.
He added, “We accept the assurances of the very eminent SAN that the defendant will make himself available subject to your lordship’s discretionary terms that may be imposed.
“By so doing, we will ease the burden on the court. Therefore, we will not be opposing the eminent SAN’s submission.”
The prosecution counsel said though they had filed a counter-affidavit, they would not oppose the bail, going by the assurances of the learned SAN.
Ruling on the bail application, Justice Nwite said, “I have listened to the submissions of both counsels. It is not in dispute that both counsels have filed applications in respect of this.
“Based on the account exhibited by learned counsel for the defendant, which was exhibited and supported by prosecution counsel, I am minded to change my earlier stand on this matter.”
He granted the defendant N500 million bail with two sureties.
“Sureties must be landed property owners within the jurisdiction of this court. They must swear to affidavits of means. The title deeds of properties to be verified by the court registrar,” he said.
The defendant was also asked to submit his international passport, and he would remain at the Kuje Correctional Centre pending the perfection of the bail conditions.
It will be recalled that the ex-governor was earlier remanded in a fresh N110bn charge by EFCC, pending his bail application.
Meanwhile, the judge has fixed February 24, 2025, for hearing into the matter.
[DailyPost]
he former governor of Kogi state, Yahaya Bello has pleaded not guilty to a 19-count charge of criminal breach of trust brought against him by the Economic and Financial Crimes Commission (EFCC).
Bello is, in the charge, accused of diverting funds belonging to Kogi State to acquire, through proxies, property both in Nigeria and abroad.
When the charge was read to Bello by an official of the court, he said he understood all the counts and pleaded not guilty to all of them.
His lawyer, Joseph Daudu, (SAN) told the court that his client’s failure to attend court before now, was not out of disrespect, but a desire to fully defended himself.
Daudu said the decision of his client to challenge, up to the Supreme Court, the jurisdiction of the court to hear the case was not out of disrespect.
“It was an episode that could have been avoided but it has come and gone. Things are clearer now,” Daudu said.
[TheNation]
The Attorney-General of Lagos State and the Commissioner for Justice, Mr Lawal Pedro, SAN, says the Human Organ and Tissue Transplantation Bill has been signed into law to prohibit illegal organ harvesting.
Pedro disclosed this on Thursday at the Ministry of Justice in Alausa, Ikeja, while briefing newsmen on the significance of the new law and other four new laws.
According to him, the state governor, Babajide Sanwo-Olu, signed the new laws to show commitment to the welfare, security and prosperity of every Lagosian.
The other four new laws include; Consumer Protection Law, Lagos Enforcement Training Institute Laws, Victims Assistance, Witness Protection Laws and Fire and Rescue Service Laws.
He said, “These laws are not just milestones in the state’s legislative journey; they demonstrate our unwavering commitment to ensuring that Lagos remains a beacon of progress, justice, and opportunity in Nigeria.
“As a government, our priorities have always been to address the immediate needs of our citizens, protect their rights, ensure their safety, health and prosperities.
“In this regard, the recently signed laws cover some critical areas of public welfare, human rights, safety, and environmental sustainability.
“These Laws have been thoughtfully designed to tackle some of the most pressing issues facing our state while paving the way for a more just, secure and prosperous future for all residents of Lagos.”
The attorney-general further explained that the Lagos Consumer Protection Agency Law signified a leap forward in enhancing consumer rights in the state.
According to him, as Lagos continues to be a hub of commerce, business and trade, it is imperative that the interests of the residents are safeguarded.
He highlighted the Lagos Consumer Protection Agency Law as a major step forward in protecting residents.
“As Lagos continues to thrive as a hub of commerce and trade, it is crucial that the rights of our citizens are safeguarded.
“This law empowers consumers to hold businesses accountable and ensures strict enforcement of their rights.
“Violation of this law attracts the power to seal premises selling hazardous products and imposes fine of up to N5 million for violations.
“Offenders face penalties, including a custodial sentence of six months or N500,000 fine and subsequent offenders will receive stricter punishments, including fines of up to N750,000 and longer sentences,” he said.
Pedro also explained that the Human Organ Harvesting and Tissue Transplantation Law addressed illicit organ trade and unethical medical practices.
He said it was a groundbreaking framework to regulate organ harvesting and transplant in the state, adding that the law prohibits organ harvesting without proper authorisation and bans advertisements for the sale of human organs.
“This legislation protects individuals from exploitation and ensures medical procedures adhere to the highest ethical standards.
” Violators risk up to 10 years imprisonment or fine of up to N10 million,” Pedro said.
The commissioner for justice also explained the three other new laws and urged all residents to familiarise themselves with the laws and to actively engage in their enforcement.
NAN
The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adejare Adeboye, revealed yesterday that he almost faced challenges with certain individuals in the country after urging Nigerians to pray for divine intervention against efforts by powerful cabals allegedly working to hinder the success of private refineries in Nigeria.
He made this remark during the ongoing annual Holy Ghost Congress themed Onward Christian Soldiers at the Redemption City, along the Lagos-Ibadan Expressway.
While Pastor Adeboye did not directly name those involved, he referenced a statement he made weeks ago during the church’s annual Abuja Special Holy Ghost Service, which he said nearly got him into trouble.
In his words: “I said something during the Abuja Holy Ghost Service which I am not going to repeat because I nearly got into trouble because of telling the truth. Certain things happened, at least in my nation Nigeria, that force you to wonder: Are we under a curse? There are nations that didn’t have all the resources we have, and yet, they seem to be doing better than we are doing. Hmmmm, let me leave that out.”
It is worth noting that Pastor Adeboye had earlier expressed frustration over the billions of naira spent on repairing the nation’s four government-owned refineries, which still fail to function optimally.
Speaking on the importance of divine light to individuals, families, communities, and nations, Adeboye declared:
“Let me just say tonight, in the name above every other name, there will be light in our nations.”
He urged believers to cultivate a genuine relationship with God, emphasizing that such a connection would end all forms of emptiness, storms, and challenges in their lives.
In his words: “The power of a soldier is determined by who is behind him. If you stick with your Commander-in-Chief, you will soon become like Him. The first time it was recorded that our Commander-in-Chief spoke, He said, ‘Let there be light,’ and there was light.”
He continued, explaining the authority of God’s voice: “When He said it, He didn’t whisper; it was a command, loud and clear. He called forth Lazarus from the grave in a loud voice (John 11:39-44).
“When there’s going to be an earthquake on the earth, one way we know is that we hear a sound before the eruption. When an airplane is about to take off, there is noise. Before God spoke and brought light, certain conditions were there. There was formlessness and emptiness on the earth. ‘Without form’ means confusion. Wherever darkness is, there is bound to be confusion.”
[Vanguard]
A recent survey by SBM Intelligence alleges that the federal government’s proposed tax reforms fail to account for the unique characteristics of certain Nigerian regions.
The report, however, admits that the reforms aim to reduce the tax burden on citizens and improve the efficiency of tax collection, as outlined by Mr. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee.
The survey, conducted across Nigeria’s geopolitical zones, reveals that failing to address regional issues could exacerbate existing economic disparities in the country, potentially requiring intervention by the Supreme Court or a constitutional amendment.
The report is part of the broader conversation about Nigeria’s current tax system and the proposed tax reform bills, which have sparked intense debate, especially from northern elites, particularly regarding the distribution of Value Added Tax (VAT) among Nigeria’s 36 states.
Much Ado About Tax
- The report states that only five of the country’s 36 states—Anambra, Cross River, Lagos, Ogun, and Rivers—could fulfil their financial obligations if the federally distributed revenue pool did not exist.
- Based on this, the report notes that comparing how much VAT each state generates versus how much VAT revenue they receive at the end of each month has become a common and contentious issue.
“Between January and October 2024, Imo State received 1,715.9% of what it contributed to the VAT pool as its VAT allocation. Abia, Cross River, and Kebbi all received allocations above 700% of what they contributed.
“Lagos and Rivers received the lowest allocations, receiving 16.76% and 22%, respectively. Lagos contributes around 55% of local VAT.
“The proposed reforms, while aiming to reduce the tax burden on citizens and improve the efficiency of tax collection, fail to account for the uniqueness of certain regions.
“In the northeast, states received 244.46% of their VAT contributions. The highest was Bauchi, which received 384.94% of its VAT contributions, and the lowest was Adamawa, which received 165.69% of its VAT contributions. This could exacerbate existing economic disparities,” it added.
- The report further states that Nigeria’s VAT system remains a pivotal yet contentious aspect of the country’s fiscal framework and has often attracted litigation over the years.
- The report predicts that the Supreme Court may once again be called upon to intervene, particularly regarding the fiscal powers of the states and regions.
“The historical development of VAT, replacing the Sales Tax Decree of 1986, reflects the ongoing evolution of Nigeria’s tax system, driven by attempts to balance efficiency, equity, and state autonomy.
“Legal precedents, such as the Supreme Court’s affirmation of VAT’s precedence over state sales and consumption taxes, underscore the complexities of aligning federal and state interests.
“However, recent litigation from states like Rivers and Lagos highlights growing demands for greater control over the revenue generated within their territories and calls for a more equitable revenue-sharing formula.
“Proposed tax reforms aim to address some of these issues by revising VAT rates and exemptions, simplifying tax structures, and increasing derivation-based allocations.
“While these measures hold promise, the ultimate resolution of the VAT issue will likely require either a definitive Supreme Court ruling or a constitutional amendment to clarify the division of fiscal powers,” the report added.
The report also highlighted that the VAT discourse sheds light on the persistent North-South divide in Nigeria’s fiscal and political landscape, reflecting broader disparities in economic activity and development.
The report advises that resolving these tensions will require careful negotiation and reforms that balance the principles of derivation, equity, and national cohesion, ensuring that the tax system fosters regional development and unity.
What you should know
The tax reform bills have become controversial since their introduction, with different interests opposing various provisions.
- For instance, the Northern Governors Forum expressed opposition to the bill, urging legislators from the region to resist any legislation that undermines the interests of Northerners nationwide.
- Additionally, the National Economic Council (NEC), which comprises the 36 state governors and is chaired by the Vice President, called for the withdrawal of the bills to allow for proper consultations before proceeding to the National Assembly.
- However, President Tinubu disregarded the recommendations from both the Northern Governors Forum and the NEC, stating that the process is legislative and that inputs can be incorporated during public hearings.
- Meanwhile, the Nigerian Senate on December 4 suspended hearings on the bills until the new year, providing time for essential political engagements and negotiations to secure their passage.
[Nairametrics]
Minister of the Federal Capital Territory (FCT), Nyesom Wike, has vowed to continue demolishing properties in the nation’s capital despite pressure.
Wike has been criticised for embarking on widespread demolition of houses in Abuja.
A construction company, Paullosa Nigeria Limited, had recently raised the alarm over a demolition notice issued by the Federal Capital Development Authority (FCDA) to demolish its estate in the Lifecamp area of Abuja.
The General Manager of the Estate, Mr Vincent Enoghase, who spoke to journalists in Abuja on Tuesday, claimed the FCDA had demanded N10 million, for a Right of Occupancy, which it had paid but was yet to get receive before the issuance of the quit notice.
In a viral video on Wednesday, social media commentator, Vincent Martins Otse, popularly known as VeryDarkMan, alleged that the FCT Minister, had revoked the land titles to the Estate, and issued the same to a Saravera Nigeria Limited, and the Minority Leader and member of the House of Representatives representing Obio/Akpor Constituency, Kingsley Chinda.
VeryDarkMan called on security agencies to intervene, noting that the original owner of the land was the first cadet of the Nigerian Army who passed on four years ago.
The senate had set up a panel to probe the issue, while asking Wike to halt demolitions.
But speaking during the distribution of operational vehicles to security agencies at the FCTA secretariat on Thursday, Wike said the structures being demolished by the Federal Capital Development Authority (FCDA) are properties illegally built on government lands.
“Let me use this opportunity to tell Nigerians and residents of Abuja, we are not afraid of blackmail. In fact, you cannot be in this kind of position and say you cannot be blackmailed particularly as regards this Abuja. There are so many land grabbers. Some of us have come to put our feet down. Let heaven fall. It is even better that heaven comes down now so that we would not be fasting again to go to heaven.
“We would stop anybody who thinks they will take government land for whatever reason without formal approval. We would not look at your face. If you like be a civil rights activist or a television personality. No amount of blackmail can stop us. People take government property without approval or documentation.”
[DailyTrust]
Legal luminary, Aare Afe Babalola, SAN, has taken a step further in the expression of his anger against Lagos-based legal practitioner, Dele Farotimi over the alleged defamation of his character.
The elder statesman, through his law firm, has written a petition to the Legal Practitioners Disciplinary Committee, LPDC, asking that Farotimi’s name be removed from the roll of legal practitioners in Nigeria.
According to the petitioner, as Channels Television reported, Farotimi had allegedly violated certain provisions of the rules of professional conduct for lawyers.
A partner in Babalola’s law firm, Ola Faro, who was also mentioned in Farotimi’s book, “Nigeria and its criminal justice system,” signed the 90-page petition dated December 6, 2024.
The petition is titled “Petition against Tomilola Titus Farotimi also known as Dele Farotimi Esq, a Nigerian lawyer called to the Nigerian Bar with his name on the roll of legal practitioners kept by the Supreme Court for violation of extant rules of professional conduct for legal practitioners rules 1, 15(1), 15(2B), 15(3A), 15(3G), 15(3I), 15(3J),26(1), 27(1), 30, 31(1), (2) and (4) of the rules of professional conduct 2023 by bringing the entire judiciary in Nigeria into dispute with his unfounded allegations of corruption against eminent justices of the Supreme Court of Nigeria, judges of High Court of Lagos State, Aare Afe babalola, SAN, Olu Daramola SAN, Ola Faro Esq., and the entire chambers of Aare Afe babalola & Co in his book titled ‘Nigeria and its Criminal Justice System.’
Faro said that the petition was written both in his personal capacity “and for and on behalf of the law firm of Afe Babalola & Co.”
He gave a background of the facts of the case and detailed the alleged contraventions of the rules of professional conduct by the respondent, Farotimi.
The petitioner highlighted that Farotimi “engaged in conduct which is unbecoming of a legal practitioner by making false accusations against the Supreme Court and the legal profession.”
The petitioners also stated that Farotimi “Participated in conduct that he believes to be unlawful by bribing judicial officers and having unlawful access to a judicial officer.
“Joined his clients in committing misconduct and breach of law with reference to judicial officers by having unlawful access to a judicial officer.
“Gave service to his client which he knows is capable of causing a breach of law and disrespect and corrupting a judicial officer.
“Knowingly made false statements of law and facts in respect to a case already decided by the Supreme Court.
“Assisted his clients in a conduct that he knows to be illegal and fraudulent.
“Knowingly engaged in illegal conduct in the cause of his practice as a legal practitioner.
“Treated his fellow lawyers without respect, fairness, consideration and dignity, allowing ill feeling between opposing clients to influence his conduct and demeanour by distorting the facts of a case in the cause of his practice as a legal practitioner.
“Failed to observe good faith and fairness in dealing with other lawyers in respect to a case already decided by the Supreme Court.
“Conducted himself in a manner that obstructed, delayed and adversely affected the administration of justice by taking steps to frustrate a decision of the Supreme Court for his personal benefit and benefit of his client who lost at the Supreme Court.
“Treated the court, particularly the Supreme Court without respect, dignity and honour by using uncouth, unprofessional, undignified and offensive language against the Supreme Court and the justices of the Supreme Court.
“Made defamatory statements against judicial officers rather than making a complaint to appropriate authorities.
“Indicated that he discussed a pending case with a judge trying the case in the absence of an opposing lawyer.”
The petitioners stated that “The contravention of these rules by the Respondent (Farotimi) prompted this petition to protect the dignity of the legal profession, the dignity of the court as the temple of justice and to uphold the standards of the legal profession.”
They also noted that some of the statements made in Farotimi’s book are likely to set the legal profession and society ablaze and that those statements were made to discredit the entire Nigerian judiciary, Justices of the Supreme Court, judges of the High Court of Lagos State, their law firm and to ridicule them within the legal profession and injure their hard-earned reputation and financial credit.
The Legal Practitioners Disciplinary Committee, LPDC, is the regulatory body that investigates and addresses misconduct among Nigerian lawyers.
The LPDC ensures that legal practitioners adhere to ethical standards and professional conduct.
DAILY POST reported that Farotimi was recently sent back to jail after the ruling on his bail application was adjourned till December 20, 2024.
The FCT High Court had also barred human rights lawyer from further publishing, selling, circulating, advertising or distributing the hard or soft copies of the controversial book.
[DailyPost]
Nigerian music icon Tiwa Savage has opened up about her perspective on infidelity in romantic relationships, revealing that cheating has never been a reason for her to end a relationship.
During a candid interview on The Receipts Podcast, the 44-year-old singer disclosed that every man she has been involved with has cheated on her, yet she has always chosen to forgive.
“I have been cheated on before. I found out and forgave every time,” Savage said. “Every man I have ever been with has cheated, and I’ve never left them because of it. I’ve left for other reasons, but not because they cheated. Cheating is not my hill.”
Savage, however, emphasised that disrespect is her ultimate deal-breaker.
She explained that lies surrounding infidelity, especially when others are aware of the betrayal, have caused her pain.
“What hurts is the lies about it though. Maybe other people had known and then I kind of felt stupid about it, or they’ve known for a long time or if it’s close to home. The disrespect of it is why I could leave, but the actual act of it? I’ve never left a man cause of it,” she said.
The award-winning singer revealed that her reasons for ending relationships have been varied, citing drug abuse, emotional neglect, ghosting, financial issues, and emotional abuse.
“I’ve left for so many other reasons like drug abuse or emotional abuse or being emotionally abused, being ghosted, stealing, and financial things. But that cheating thing, nah,” Tiwa Savage added.
More...
Ajax Amsterdam FC have announced a crowdfunding campaign to support Tijjani Babangida following the tragic loss of his family in a car accident.
On May 9, Babangida, who was in the books of Ajax for seven years, was involved in a car crash along the Kaduna-Zaria highway.
The ex-footballer was with Ibrahim, his younger brother, alongside his wife, son, and maid when the accident happened.
Ibrahim was said to have died on the spot. Fadil, Babangida’s one-year son, succumbed to the injuries from the crash a few days later. The wife lost an eye and had to undergo face reconstruction surgery, and the maid also fractured a leg.
Babangida has moved to the Netherlands since the incident with his wife getting medical care in the country.
In a documentary released on Thursday, Ajax revealed that Babangida’s “many good friends from football” had launched a crowdfunding campaign.
The fund is aimed at helping Babangida navigate the trauma of the accident.
“Six months ago, Tijani Babangida’s world collapsed. In a serious car accident, he lost his one-and-a-half-year-old son and his younger brother, while his wife was seriously injured,” the documentary caption read.
“‘Baba’ can count on the support of many good friends from football. They are helping him with everything and have started a crowdfunding campaign.”
Babangida was contracted to Ajax for seven years. He won an Eredivisie title in 1998 and two Dutch Cup trophies, scoring 20 goals in 77 appearances for the club.
[TheCable]
…Bonds Oversubscribed By Over 441% From Investors
The Securities and Exchange Commission has said that the Federal Government issued six Sovereign Sukuk worth N1.1trn ($657.6m), to finance 124 Federal road projects covering over 5,820 kilometers across the six geopolitical zones of the country.
The Director General of the SEC, Dr. Emomotimi Agama who stated this during the ongoing 2nd International Islamic Capital Market Conference in Karachi, Pakistan, Thursday, said the success rate makes the Islamic Capital Market, ICM stand out as a resilient and innovative tool for mobilizing resources.
Agama described the issuance of sovereign Sukuk since 2017 as a key pillar responsible for growth of the ICM in Nigeria, adding that these issuances have consistently been oversubscribed, with subscription rates reaching as high as 441 per cent.
He disclosed that sub-national and corporate Sukuk issuances are also growing in Nigeria. Notable examples include Osun and Lagos states, Family Homes Ltd, and TAJ Bank Plc, along with private Sukuk issuances by three other sub-nationals saying that these instruments have been instrumental in funding school infrastructure.
“Beyond Sukuk, the ICM segment in Nigeria offers diverse investment opportunities. From one registered fund in 2008, the segment currently boasts of 14 registered Halal mutual funds with a net asset value exceeding N105bn as of November 2024. The NGX Lotus Islamic Index tracks 11 Shariah-compliant equities, while Nigeria’s first Islamic Real Estate Investment Trust – ChapelHill N-REIT – highlights the potential of real estate investments.
“The prospects for Nigeria’s Islamic finance industry are underpinned by key growth drivers, both global and domestic. Globally, demographic trends, economic diversification efforts in oil-dependent economies, and regulatory support have spurred demand for Shariah-compliant products.
“Locally, Nigeria’s large Muslim population, government-backed Sukuk initiatives, and growing investor awareness are driving market expansion. Emerging innovations in fintech also present further opportunities for market development. In that regard, the SEC registered the first Robo advisory firm in the Nigerian Capital Market in 2022. This Robo Advisor is focused on Shari’ah-compliant investments,” he said.
Agama said the success of the ICM in Nigeria is deeply rooted in its strategic focus on infrastructure financing, financial inclusion, and sustainability as the SEC’s engagement with the ICM dates back to 2004, when the SEC joined the Islamic Finance Task Force of the International Organization of Securities Commissions (IOSCO).
The SEC Boss said this commitment was followed by the issuance of Islamic fund and Sukuk Rules in 2010 and 2013, respectively and later solidified in the Non-Interest Capital Market Master Plan (2015–2025), which outlines a 10-year roadmap for expanding the market’s depth and diversity.
According to him, “Adopted in 2015 as part of the broader Nigerian Capital Market Master Plan (2015–2025), the Non-Interest Capital Market Master Plan (NICMMP) has been central to the development of the ICM segment in Nigeria.
The document sets out a vision for the Islamic Capital Market – otherwise known as the Non-Interest Capital Market (NICM) in Nigeria – to contribute 25 per cent of total market capitalization by 2025, with Sukuk accounting for 15 per cent.
“The masterplan was further reviewed in 2021, to provide a renewed focus on deepening the ICM, through targeting 50 listings of sharia-compliant products with market capitalization of at least N5trn ($11bn) by 2025.
“The performance of the NICM Masterplan has been remarkable. Of the 15 initiatives outlined in the roadmap, nine had been fully implemented as of 2022, representing a 70 per cent success rate.
“Key achievements include improved public awareness, increased retail participation in Sukuk, and the introduction of the Non-Interest Pension Fund (Fund VI) through collaboration with the National Pension Commission (PenCom).
“Another key achievement was the release of guidelines for taxation of Non-Interest transactions, in collaboration with the FIRS. This solved the challenge of double taxation hindering such transactions,” he said.
The SEC DG however said the growth of the ICM segment within a decade and half, has come with some challenges including limited public awareness of Islamic finance principles, paucity of tradable instruments, and regulatory alignment across institutions.
He said, “Capacity-building efforts, particularly in Shariah governance and compliance, remain critical to sustaining growth. These, of course, are critical areas the SEC is currently implementing strategies to address, with relevant stakeholders particularly in the public and private sector, providing targeted and effective solutions.
“Of particular interest is our ongoing effort to engage relevant stakeholders in the mortgage sector to develop Shariah-compliant housing finance solutions.
“This will create the needed impetus for developing Shariah-compliant Asset backed instruments to deepen our capital Market further”.
As the world looks into the future, Agama stated that the opportunities are endless as Islamic Finance is solving some practical challenges and needs of the Nigerian economy such as critical infrastructure deficit, financial exclusion, low mortgage penetration and disinterest in commercial financing opportunities due to faith-based and/or ethical concerns.
“This is the time to stake positions that will no doubt produce competitive returns and satisfy ethical and sustainability concerns.
“The table is set for investing. Foreign participants should take positions and increase stakes in tandem with domestic trends.
“This offers a significant opportunity to contribute to sustainable economic growth and financial inclusion in Nigeria and by extension the African continent” he added.
The 16th Emir of Kano, Muhammadu Sanusi II, has reaffirmed his commitment to the installation of the newly appointed District Head of Bichi, Munir Sanusi, and his assumption of office at the Bichi palace.
Speaking on Wednesday during a solidarity visit by a delegation from Bichi, Emir Sanusi stated that despite recent disruptions, the installation would proceed as planned.
It can be recalled that last Friday, heavy security operatives, including personnel from the police and the Department of State Services (DSS), reportedly blocked the Kofar Kudu Emir’s palace to prevent Emir Sanusi from accompanying the new Wambai of Kano and District Head of Bichi to assume his seat. The action led to restrictions on movement in and out of the palace.
Addressing the delegation, Emir Sanusi described the incident as a temporary setback.
“This incident is only a distraction. We do not know why it happened, and those involved have not provided any explanations. However, it will not stop anything.
I assure you that another date will be fixed for the installation, and your District Head will be brought to you peacefully.
Inform the public to remain peaceful and prayerful. Whatever the situation, peace and prayers will guide us through to the end.
With the respect the people of Bichi hold for Khalifa and Wambai Abubakar, there is no way a son of the Khalifa will be presented as Wambai, and they would turn their backs on him,” he said.
Leading the Bichi delegation, the Chairman of Bichi Local Government, Hamza Sule, expressed solidarity and dismissed rumors of opposition to the appointment.
He stated: “We are here to show our support and allegiance to His Royal Highness, the Emir of Kano, Muhammadu Sanusi II. There were rumors suggesting unrest in Bichi, but we are here to make it clear that we are fully supportive.
We are one hundred percent behind the appointment of Munir Sanusi as District Head of Bichi. We were in Bichi, waiting for the Wambai’s arrival, when we heard these unfounded rumors. As far as we are concerned, there is no violence or opposition, only celebration.”
The Bichi Emirate was one of the four new emirates created by former Governor Abdullahi Ganduje after the division of the old Kano Emirate. However, the emirates were later dissolved by the administration of Governor Abba Yusuf of the New Nigeria People’s Party (NNPP).
Dr Emmanuel Ahmadu, a Nigerian who wrote the West Africa School Senior Certificate Education 17 times, has earned a distinction from the prestigious London Graduate School in the UK.
Ahmadu, a Nigerian mental health advocate and accomplished professional based in the U.S., disclosed this in an interview in Lagos.
He said that he was also inducted as a Fellow of the Institute of Management Consultants (FIMC) in Lagos.
Ahmadu said that the formal induction ceremony and certification workshop took place in Lagos and UK on Nov. 26, where he was lauded for his exceptional contributions.
According to him, this dual honour highlights his inspiring journey from writing O’level examinations 17 times, due to family instability, to becoming a globally recognised figure in mental health advocacy and consultancy.
Ahmadu said his new accolades would significantly amplify his global impact, which would enable him to contribute further to addressing mental health challenges, particularly among Gen Z, teenagers, and adolescents.
“My Fellowship, the highest grade of membership in the Institute of Management Consultants, will position me as a thought leader equipped to provide innovative strategies in tackling depression and suicide.
“This recognition is not just a personal milestone but a step forward in the global fight against mental health crises.
“It’s a call to action to innovate solutions that inspire hope and resilience”.
The Institute of Management Consultants, in its nomination statement, praised Ahmadu’s “outstanding academic and professional standing and demonstrated commitment to creating, maintaining, extending, and promoting the highest world standards of management consulting practice.”
Ahmadu said: “My certification as a Certified Management Consultant (CMC) will further enhance my credentials, making me to offer my expertise across over 50 countries, including the United States and the United Kingdom,” he said.
He said that his personal story had resonated globally, inspiring millions.
“A childhood marked by instability saw me attend 16 primary schools and 14 secondary schools, yet I persevered, ultimately earning two honorary doctorates and publishing in mental health journals”.
On Instagram (@mr.voiceover), Ahmadu shared, “Nothing is impossible with God.
“I’m forever grateful for this life-changing moment and determined to keep pushing forward in this journey to make a positive difference in the world. Glory be to God almighty,” he said.
He said that Prof. David Iornem, Director-General of IMC Nigeria, during the induction, remarked that he (Ahmadu) exemplified the transformative power of resilience.
“His expertise and leadership will undoubtedly elevate global efforts in mental health advocacy and management consultancy,” said Iornem. (NAN)