Latest News
FEATURES
The Economic and Financial Crimes Commission (EFCC) has arrested Darius Ishaku, former governor of Taraba state, over an alleged N9.3 billion fraud.
Sources told to TheCable that Ishaku is presently in custody of the commission in Abuja.
Although, Dele Oyewale, EFCC spokesperson confirmed the information, he did not give further details.
The EFCC has also filed a 15-count charge against the former governor before a federal high court in Abuja on Thursday.
He will be arraigned alongside Bello Yero, former permanent secretary of bureau for local government and chieftaincy affairs.
Ishaku is accused of criminal breach of trust and misappropriating state funds to the tune of N9.3 billion contrary to Section 315 of the Penal Code Act, Cap 532, Laws of the Federal Capital Territory of Nigeria 2007.
In counts one and two, Ishaku and Yero are alleged to have misappropriated an aggregate of N1.10 billion “which formed part of the 2.5% contingency funds belonging to bureau of local government and chieftaincy affairs, Taraba state between August 25, 2015 and March 21, 2016”.
In counts three and four, the defendants were alleged to have “dishonestly diverted” state funds worth N1.1 billion for their personal use.
Count five involves N193 million allegedly diverted by the defendants between January 2019 and April 2021.
In count six, N650 million was allegedly diverted between January 6, 2019. and April 29, 2021.
In count seven, the defendants were said to have between January 6, 2019 and April 29, 2021, diverted N170 million for their personal use.
The were also alleged to have diverted N201.9 million between January 2019 and April 2021. Another N132.1 million was said to have been diverted by the defendants during the same time frame.
In counts 10 and 11, the accused persons allegedly diverted N3.3 billion and another N639.4 million between July 19, 2019 and February 5, 2021.
Between September 30, 2016 and February 23, 2021, the former governor and Yero allegedly diverted N993 million in count 12.
Between May and December 2015, count 13 alleged that the defendants allegedly diverted N90 million.
Ishaku is the only defendant answering counts 14 and 15 in which he is alleged to have diverted N23 million and N761.3 million between October 2016 and January 2018.
Ishaku was governor of Taraba state between 2015 and 2023.
The EFCC had invited the former governor to question financial issues relating to the eight years of his administration in July 2023. He was later released on bail.
The naira depreciated to N1,700 per dollar at the parallel section of the foreign exchange (FX) market on Friday.
At the end of trading hours, the naira depreciated by 1.49 percent compared to the N1,675/$ traded on Thursday.
The N1,700 per dollar is the lowest the naira has depreciated since February 19, when the naira recorded a low of N1,730/$.
Currency traders, also known as street traders, in Lagos, quoted the buying rate of the local currency at N1,680/$ and the selling rate at N1,700/$ — leaving a profit margin of N20.
At the official window, the local currency appreciated by 2.24 percent from N1,576.1/$ on Thursday to trade at N1,540.78 on Friday.
According to FMDQ Exchange, a platform that oversees the official window, a dollar was sold as high as N1,691 and at a low rate of N1,530. during trading hours.
WEEK-LONG FLUCTUATIONS
At the parallel market on Monday, the naira depreciated to N1,665/$ from N1,663 on September 20.
Maintaining the depreciation streak, the local currency fell further to N1,670 and N1,680 on Tuesday and Wednesday, respectively.
However, the naira rebounded to N1,675 on Thursday.
At the official FX market, the local currency depreciated to N1,562.66 on Monday — from N1,541.52 on September 20.
Subsequently, the naira further depreciated to N1,658.48 on Tuesday and N1,667.72 on Wednesday, before appreciating to N1,576.1 on Thursday.
On January 29, the Central Bank of Nigeria (CBN) said it had begun implementing a comprehensive plan to improve liquidity in the Nigerian FX markets in the short, medium, and long term.
The apex bank said the FX reforms were designed to streamline and harmonise multiple exchange rates, promote transparency, and lessen the likelihood of arbitrage opportunities.
On September 25, Olayemi Cardoso, governor of CBN, said the multiple interest rate hikes have restored confidence in the naira.
Edo Govt Declares Obaseki’s Tenure As Most Transparent In History Amid Oshiomhole’s Probe Call
Admin
The Edo State Government has responded to recent criticisms by affirming that Governor Godwin Obaseki‘s administration is the most transparent and accountable in the state’s history.
Naija News earlier reported that former Governor Adams Oshiomhole, in a statement on Thursday, called for an investigation into Governor Obaseki’s administration as it nears its conclusion in the coming months.
This followed the recent electoral victory of Senator Monday Okpebholo, who, along with his running mate, Dennis Idahosa, received their Certificate of Return from the Independent National Electoral Commission.
Oshiomhole raised concerns about Obaseki’s handling of a $75 million World Bank fund meant for the Edo Basic Education Sector Transformation (EdoBEST) programme, suggesting that the money may not have been used appropriately.
He questioned how the fund was spent, claiming the programme had not improved the education system in the state as promised.
“All the fraud that Obaseki was doing with so-called World Bank money, and I think the World Bank will want even to investigate what he did with that money when you have schools without teachers and you are doing EdoBEST. He left Edo worse,” Oshiomhole said.
In response, the Commissioner for Communication and Orientation, Chris Nehikhare, issued a statement defending the governor’s record.
Nehikhare emphasized that Obaseki’s government has consistently adhered to due process in awarding contracts, gaining national and international recognition for its transparency.
He said, “I would like to emphasize that Governor Obaseki’s administration has been the most transparent and accountable in Edo State ever.
“The government has adhered to due process in the award and execution of contracts, while the pricing and procurement processes have received numerous accolades both nationally and internationally.”
Nehikhare also highlighted that a staff member from Edo State is currently in Liberia to share the state’s best practices in procurement.
He further stressed that Obaseki welcomes accountability, contrasting his leadership style with Oshiomhole’s, whom he implied had avoided scrutiny during his time in office.
“One of our staff members is currently in Liberia to help replicate Edo State’s exemplary procurement processes. Various agencies, including the World Bank under the SFTAS programme, gave our government, Public Expenditure Efficiency Award, (The only state in the Federation) and Fiscal Transparency And Accountability Award (first among 5 States)as well as ICAN, have recognized Governor Obaseki with awards for his commitment to transparency and accountability.
“Edo State has experienced unprecedented levels of resource utilization, ensuring value for money. Our data and documentation regarding government activities are accessible at our data centre located in the Government House.
“Every action taken has been in the best interest of the Edo people, and we have the authority as their elected government to do so.
“Unlike former Governor Oshiomhole, who was shielded from scrutiny, Governor Obaseki welcomes accountability and does not hide behind others,” he added.
[NaijaNews]
A former Speaker of the House of Representatives, Yakubu Dogara, says contrary to popular belief among the members of the public, many politicians in Nigeria are not in government for money.
Dogara, who was a guest on Channels Television’s Sunrise Daily programme on Friday, said many government officials are ready to work for free if people’s expectations on them are lowered to an extent.
“If we can cut the demands on some of these our government officials by 90 per cent I assure you that there are so many people there who are willing to work free of charge,” Dogara said on the programme.
“But the situation is that you cannot put a lot of burden on my head, and you knock on my leg which I am supposed to stand in order to carry the burden.”
On the current hardship and hunger in the country, Dogara said that President Bola Tinubu acknowledged the situation in their discussion during a recent visit of former national assembly leaders to him in Aso Rock.
According to the former Reps Speaker, President Tinubu promised that he is doing something about the hunger and hardship in the country.
‘Tinubu Didn’t remove petrol subsidy’
The President has been blamed by many for the removal of petrol subsidy which contributed to the galloping inflation that has seen prices of commodities skyrocket, but Dogara insisted that Tinubu isn’t to blame as the subsidy was not captured in the budget before his election.
“We must accept whether we like it or not, except we are disingenuous to say that the removal of subsidy itself, whether the president said that subsidy was gone or that he was removing subsidy, we all know that subsidy had been removed before he was elected.
“It wasn’t in the budget, so if there is no provision in the budget, how do you pay? It is illegal for the executive to appropriate money.
“They can only appropriate money in consequence of an express legislative authorisation which is the budget. And in this case, there was no provision in the budget,” he said.
He said the most important thing is that the president has admitted the challenges he is faced with, adding that accepting responsibility for a problem is the beginning of finding a solution for it.
[Channels Tv]
Nigeria and Mastercard have announced a partnership aimed at supporting one million African farmers to improve yield and agricultural productivity.
The project plan includes support for one million agricultural workers across Nigeria, Kenya and Tanzania, with a focus on enhancing financial inclusion and digital access to critical services, as well as support from the African Development Bank (AfDB).
The partnership deal was sealed during a meeting between Vice President Kashim Shettima and executives of Mastercard Corporation on the sidelines of the ongoing 79th Session of the UN General Assembly (UNGA) in New York
Speaking during a meeting, the Vice President who is representing President Bola Ahmed Tinubu at the annual global event in a statement by his spokesman, Stanley Nkwocha noted that the initiative has transformative potential for Africa’s food security drive.
He said, “This partnership is an important milestone in our quest for comprehensive financial inclusion and agricultural empowerment.
“By leveraging Mastercard’s global expertise, we’re set to create unprecedented opportunities for farmers across Nigeria, Kenya, and Tanzania.”
Earlier, the Minister of Communications, Innovation & Digital Economy, Dr. ‘Bosun Tijani, explained that the partnership will provide digital access to critical financial services for agricultural workers, which he said is expected to significantly boost productivity and economic growth in the sector.
“We’re not just introducing new technologies; we’re reimagining the entire agricultural value chain. Our goal is to ensure that every farmer, regardless of their location, has access to modern financial tools”.
He disclosed that the initiative also addresses existing challenges in Nigeria’s digital payment ecosystem.
“We’re aware of the trust deficits that have hindered the full activation of contactless payments by some acquirers and banks. This partnership includes specific measures to bridge these gaps and ensure widespread adoption,” Tijani added.
Also, the Country Manager for West Africa at Mastercard, Dr. Folasade Femi-Lawal, said a key component of the partnership is the rollout of contactless payment systems.
“We’re planning 160 contactless payment seminars starting next February. These seminars are crucial in educating stakeholders and preparing the market for this technological leap,” he stated.
[Leadership]
Former Minister of Communication and Digital Economy, Professor Isa Ali Pantami, has addressed concerns about Artificial Intelligence (AI) displacing millions of jobs.
Pantami expressed his views while receiving participants in the PRNigeria Young Communication Fellowship at his office.
He said mentorship programs focused on skill development enhances career growth, improves problem-solving abilities and expands professional network.
“In the coming years, millions may face job loss as AI assumes various roles,” he noted.
“However, it’s crucial to understand that it will not be AI itself causing job loss, but the individuals adept at utilizing AI technologies. AI is ultimately a product of human ingenuity; it does not operate or evolve independently.”
Speaking on the fear of technology often described as Technophobia, Pantami said one of the characteristics of the Fourth Industrial Revolution is that expertise in technology does not necessitate formal education in computer science.
“Similarly, you don’t need a degree in Mass Communication to become an award-winning journalist or an accomplished public relations professional. This revolution is centred around personal development and continuous learning,” he asserted.
The former minister stressed that mentorship can transform lives, even through brief interactions, and encouraged young citizens to seek guidance from older persons who are professionals in their respective field.
“Mentorship bridges the gap between theoretical knowledge and practical skills. Education lays the groundwork, but applying theoretical knowledge requires hands-on experience,” Pantami noted.
The scholar further pointed out that while tertiary/university education provides the essential theoretical frameworks, practical skills are cultivated in the private sector in most cases.
“I have consistently emphasized that practical skills—not just degrees—drive success. There is a need for personal development, constant learning and retraining to stay competitive in the job market in today’s fast-paced environment.
“You need essential skills, including social abilities rooted in empathy, emotional intelligence, communication, as well as digital skills such as AI, programming and critical thinking. Staying updated with industry trends and technologies is imperative.
“I commend all of you for pursuing the PRNigeria Young Communication Mentorship Programme following your university graduation. While degrees are valuable, skills are equally important. Pursue formal education, but prioritize practical experience and continuous learning for success.”
Mr. Yushau Shuaib, Chief Executive Officer of Image Merchants Promotion Limited (IMPR), praised Pantami for accommodating the fellows on short notice and for providing copies of his latest book, “Skills Rather Than Just Degrees,” to them.
Shuaib said the PRNigeria Young Communication Fellowship was designed to broaden cohort members’ knowledge across various aspects, focusing on modern communication methods, emerging technologies, and multimedia sessions.
“The fellowship explores strategic communication and social media engagement while incorporating AI and machine learning to enhance communication. Additionally, we include multimedia sessions to address the transition from print to audiovisual.”
Shuaib added that the fellowship, hosted at PRNigeria Centres in Abuja, Ilorin and Kano, provides a platform for participants to connect with industry professionals through sessions at media houses and PR departments for practical learning opportunities.
[DailyTrust]
The Peoples Democratic Party, PDP, candidate in the just concluded Edo State governorship election, Asue Ighodalo, has registered his dissatisfaction with the election results, stressing that he intends to seek redress in court.
Speaking during an interview on Channels Television’s Politics Today, Ighodalo claimed his mandate was stolen by the All Progressives Congress, APC, with the help of the Independent National Electoral Commission, INEC.
DAILY POST had reported that Ighodalo finished second in the election with 247,274 votes, while the APC’s Monday Okpebholo was declared the winner with 291,667 votes. Labour Party candidate, Olumide Akpata, secured 22,763 votes.
Ighodalo cited several issues, including the failure to use the Bimodal Voter Accreditation System, BVAS, in over 160 polling units, the skipping of proper collation procedures from ward to state level, and alleged collusion between INEC, the police, and the APC to suppress the will of Edo voters.
He stated that his party refrained from engaging in vote-buying, unlike the APC, which he accused of offering cash incentives to voters ranging from N25,000 to N50,000.
Speaking on his next steps, Ighodalo declared his intention to take the matter to the tribunal, where he believes the evidence will prove that the PDP was the rightful winner of the election.
He dismissed Okpebholo’s offer of friendship, stating that accepting such overtures would be impossible while the mandate remains contested.
“Because the mandate is stolen, there is no way you can accept these hands of fellowship or friendship.
“I will stay with the people of Edo State who fully gave me the mandate of their free will, and I will go into the courts and the tribunal to reclaim our mandate and then form the government,” he said.
[DailyPost]
Afrobeat sensation Davido has warned netizens against trying to calculate his net worth because they’ll never get it right.
His post on X sparked a flurry of reactions, particularly from his rival, some mocked him, saying his wealth comes from his family, while others doubted his financial stability.
“Stop watching my pockets, you won’t ever understand,” he said.
Fans and followers responded.
@DanielRegha stated: “Watching ur pockets, & rendering financial advice are two different things; It never hurts to put oneself on a budget, especially since no-one knows tomorrow. Life happens.”
@reallest_gee said: “Na if you don broke you go drop coin wey go rug or beg 1x bet for gigs then drop game wey go spoil.”
@lifeofolaa wrote:: “Them wan count your money, them don forget say money na water.”
@RespiratoryDafe asked: “OBO, how Yankee stadium go be on Saturday?”
@wizkidfc_stated: “Your matter just dey make me laugh.”
@dammiedammie35 wrote: “Who dey watch your pocket OBO ?”
@honest30bgfan_ said: “You don later broke?”
@Philips_Teq wrote: “David, you don’t really have a pocket, na adeleke pocket you de use guide.”
[TheNation]
A federal high court in Abuja has granted bail to Bristol Tamunobifiri, popularly known by his X name PIDOM.
At the court session on Friday, Emeka Nwite, presiding judge, granted PIDOM N5 million bail with one surety in like sum.
Nwite said the surety must be a resident of Abuja and depose to an affidavit of means. The surety must also provide evidence of three years of tax clearance with two passport-sized photographs.
The judge also ruled that the defendant must deposit his passport with the court.
PIDOM was arraigned on September 3, on a nine-count charge brought against him by Olukayode Egbetokun, inspector-general of police.
He was accused of “mobilising and soliciting support to unduly compel the government to act or abstain from certain acts through the #EndBadGovernance protest”.
The police said the whistleblower also laundered N970,000 deemed to be “proceeds of an unlawful act”.
Other charges include false money laundering allegations against President Bola Tinubu, and unlawfully obtaining, retaining and disseminating classified secret documents in contravention of the official Secret Act 1962.
The defendant was remanded in Kuje correctional centre. His bail application was moved by Deji Adeyanju, his lawyer.
[TheCable]
Tunisian Presidential Candidate, Ayachi Zammel Jailed For Certificate Forgery Days Before Election
AFOLABI
A Tunisian presidential aspirant, Ayachi Zammel was on Wednesday, September 25, sentenced to six months imprisonment by a court over charges of falsifying documents, making this the second prison sentence against him in a week.
The sentencing, which comes just days before the presidential election, highlights rising tensions ahead of the election, amid opposition and civil society groups' fears of a rigged election aimed at keeping President Kais Saied in power.
Zammel was sentenced to 20 months in prison last week on charges of falsifying popular endorsements.
"It is another unjust ruling and a farce that clearly aims to weaken him in the election race, but we will defend his right to the last minute," Zammel attorney Abdessattar Massoudi told Reuters.
Zammel was among only three admitted candidates competing for the position of president alongside incumbent Saied and Zouhair Magzhaoui.
Political tensions in the North African country have risen ahead of the October 6 election since an electoral commission named by Saied disqualified three prominent candidates this month amid protests by opposition and civil society groups.
More...
The Federal Government has vowed that nobody involved in the alleged bribery saga involving a crossdresser, Idris Okuneye, aka Bobrisky, will escape punishment.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the vow at a press briefing to mark his one year in office, on Friday in Abuja.
The minister had earlier ordered a comprehensive investigation into allegations of bribery and corruption within the Nigerian Correctional Service, NCoS.
Tunji-Ojo gave the order following reports that Bobrisky, who was sentenced to prison earlier this year, did not serve his jail term inside the correctional centre.
Amid the ongoing investigation, the Nigerian Government, through the Civil Defence, Correctional, Fire and Immigration Services Board, on Thursday 26th September, 2024, suspended some senior officers of the country’s prisons service.
Those suspended are Michael Anugwa, Deputy Controller of Corrections (DCC), in-charge of Medium Security Custodial Centre (MSCC), Kiri-kiri, Lagos State; and Sikiru Adekunle, Deputy Controller of Corrections (DCC), in-charge of Maximum-Security Custodial Centre (MSCC), Kiri-kiri, Lagos State.
The Board also suspended ASC II Ogbule Samuel Obinna, serving at the Medium Security Custodial Centre (MSCC), Afikpo, Ebonyi State, for allegedly accompanying a convicted inmate out of the custodial centre to a location outside the facility.
Another senior officer, Iloafonsi Kevin Ikechukwu, Deputy Controller of Corrections (DCC), in-charge of Medium Security Custodial Centre (MSCC), Kuje, Abuja, was suspended for allegedly receiving money on behalf of an inmate.
Speaking on the bribery and corruption saga that is currently rocking the country’s correctional service, Tunji-Ojo urged Nigerians to be patient, and wait for the conclusion of the investigation.
But he assured that all those involved will face the music.
“We will not spare anybody no matter how highly placed. Let’s be patient. Investigation is on but let’s be assured that nobody will be shielded and nobody will be protected,” the minister stressed.
He added that the investigation will go beyond the allegations involving Bobrisky.
“It is not just about Bobrisky. Of the four people we suspended only two are linked to Bobrisky. The one in Afikpo took somebody out. This will continue. It is not going to stop here.”
Tunji-Ojo described the persons in the investigation committee as people of integrity.
“Look at the integrity of the people that are involved. Let the integrity of the people in the committee give you confidence,” he added.
The National Bureau of Statistics has revealed that the prices of Beans, Rice, Bread, Egg have continued to rise in Nigeria.
NBS disclosed this in its recently released Selected Food Prices Watch for August. 2024.
The data showed the prices of one Kilogram of Beans rose by 271.55 percent on a year-on-year basis to N2,574.63 in August 2024 from N692.95 recorded in the same period last year.
Also on a month-on-month basis, the price of Beans increased by 5.31 percent to N2,444.81 in July 2024.
It noted that the average price of 1kg local rice sold loose went up by 148.41 percent on a year-on-year basis from N 737.11 in August 2023 to N1,831.05 in August 2024, while there was an increase of 3.65 percent on a month-on-month basis.
This is as the price of medium size eggs (12 pieces) experienced significant price increases year on year by N121.92 percent from N1,031.55 in August of last year (2023) to N2,289.19 in August 2024.
On a month-on-month basis, the average price of this item rose by 5.48 percent from N 2,170.17 in July 2024.
On the price of bread, there was also a notable price increase of bread (sliced) by 113.16 percent on a year-on-year basis from N684.85 in August 2023 to N1,459.85 in August 2024
On a month-on-month basis, it increased by 2.28 percent from N 1,427.25 in July 2024. On the other hand,
Meanwhile, the prices of Tomatoes and Yam declined on a Month-on-month basis but remained high on a year-on-year basis.
This is as tomato 1kg declined by 11.07 percent month-on-month from N1,693.83 in July 2024 to N1,506.35.
Also, the average price of 1kg of Yam tuber increased by 188.31 percent on a year-on-year basis from N576.39 in August 2023 to N1,661.80 in July 2024. On a month-on-month basis, it decreased by -7.82 percent from N1,802.84 in July 2024.
These figures follow August headline and Food inflation data which stood at 32.15 percent and 37.52 percent.
At least 30 members of the Academic Staff Union of Universities, ASUU, have resigned from Sa’adu Zungur University, SAZU in Bauchi State.
Namo Timothy, the Zonal Coordinator of ASUU, Bauchi Zone, made this known at a press conference at Yuli Campus of the university on Friday.
He explained that the Sa’adu Zungur University, SAZU a state government-owned varsity, is in the shadow of death due to poor handling of the affairs of the university and the well-being of its members.
The ASUU coordinator, while calling on the Bauchi government to declare a state of emergency on the university to reverse trends of poor handling of affairs over the years, warned that except that is done, the ASUU branch zone can no longer guarantee industrial harmony between its members and the university administration.
He bemoaned that ASUU members at SAZU do not have a pension nor death benefit scheme as obtained in a structured public service organisations across the country.
He further stated that the SAZU administration owed its members Earned Academic Allowance and Excess Work Load Allowance to the tune of over N650 million from 2012 to date.
He also expressed displeasure at how a HND graduate was appointed Bursar of the university contrary to the provision of service of the university which spelt out that only candidates with a minimum of first degree would be considered for appointment as Bursar.
“The zone has engaged key stakeholders and exchanged several correspondences in an attempt to resolve these issues to no avail.
“This has not only dampened the morale of our members in the university but forced many, including 30 trained PhD holders to resign and migrate to other institutions where their future is secured,” he added.
Cabinet Reshuffle: Don’t trust your ‘kitchen cabinet’ for ministerial recommendation – Ex-Minister, Adebayo Shittu Warns Tinubu
AFOLABI
A former Minister of Communications, Adebayo Shittu has advised President Bola Tinubu to be cautious in dealing with his righthand men who would recommend persons for ministerial offices.
He said this was important, especially as there are reported plans for a cabinet reshuffle.
Shittu was a guest on Channels Television’s Politics Today programme on Thursday.
According to Shittu, some members of the President’s kitchen cabinet who should be on the lookout for technocrats to be appointed ministers have vested interests and would only recommend their persons.
“You cannot trust anybody, even if you are talking of kitchen cabinet.
“This will be the first time he (Tinubu) would be recruiting people from all parts of the country most of whom he may never have met in life. But he may just be riding on the recommendation, perhaps, of interested power blocs within the party who would give information and sell their candidate for one reason or the other.
“Mr President has an opportunity to decide what he wants. If you are not there and if he does not tell you exactly what he wants, it would be very difficult but I think one failing in our system in this country is that when people are appointed, or about to be appointed, we don’t have a kind of orientation exercise which perhaps will take a week or two weeks to school those to be given jobs to understand the priorities of their employer.”
Shittu’s call re-echoed growing calls for the President to reshuffle his cabinet over underperformance by some ministers.