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An estimated 31.8 million Nigerians are enduring acute food insecurity, a crisis that is further intensified by widespread malnutrition among women and children across the nation.
According to the 2024 Cadre Harmonise report, the surge in food prices—largely driven by the removal of fuel subsidies coupled with ongoing security challenges—has pushed millions of Nigerians into a dire situation.
In a statement released on Wednesday by Julie Osagie-Jacobs, the Public Relations Officer of the Ministry of Budget and Economic Planning, development partners including the Food and Agriculture Organization (FAO), Green Action in Enterprises (GAIN), GIZ, and Agsys disclosed these findings during a joint review meeting on the implementation of food systems in Nigeria, held from August 26th to 27th, 2024.
The report highlights a significant increase in the number of people facing acute food insecurity, rising sharply from the 18.6 million identified by the U.N. World Food Programme as vulnerable between October and December 2023.
“The surge in food commodity prices, which is a result of the removal of fuel subsidy in addition to security challenges, has placed millions of Nigerians in a precarious situation,” the ministry said.
Stakeholders at the meeting emphasized the need for a collaborative, multi-sectoral approach to address the food security crisis, stressing that such cooperation is essential to tackling the various challenges simultaneously.
They also noted the importance of involving civil society organizations and the private sector to broaden the reach of nutrition initiatives.
Despite the grim findings, the development partners pledged their unwavering support to transform Nigeria’s food system.
The report was produced in collaboration with the U.N. Food and Agriculture Organization, the Global Alliance for Improved Nutrition, and the German development agency GIZ, utilizing data from the Cadre Harmonise, a regional food security framework.
Nigeria’s national convener of Food Systems and Director of Social Development in the Ministry of Budget and Economic Planning, Sanjo Faniran, stated that the study has been instrumental in identifying gaps, successes, and challenges while offering recommendations to improve the situation.
This report comes at a time when Nigeria is grappling with soaring food inflation, which has now surpassed 40 percent.
The Economic and Financial Crimes Commission (EFCC) has said lawyers who are paid by their clients from corruption proceeds would be arrested and prosecuted.
The Chairman of EFCC, Ola Olukoyede, said lawyers who receive payment from clients must ensure their payment comes from legitimate sources. He argued that receiving pay from corruption proceeds is also aiding and abetting corruption.
Olukoyde stated this on Tuesday at a panel discussion on money laundering during the 64th Annual General Conference of Nigeria Bar Association (NBA) Conference 2024, in Lagos.
The EFCC boss maintained that international conventions would not always dictate the way the agency operates.
He emphasized that it is the duty of EFCC to trace proceeds of crime, adding that if proceeds of crime are traced as payment to a lawyer, the agency would arrest the lawyer.
Olukoyede said, “As lawyers, we are supposed to hold a position of trust in our professional conduct. While we try to comply with international laws and regulations, we should also do what is right for ourselves so as to protect the sanctity of our profession, which is very key.
“Doing the right thing doesn’t necessarily come from the way of international conventions. If you do the right things, they will automatically take you off the grey list.
“It is expedient on you to, at least, know who your client is. You are expected to be paid from a legitimate source. If you are a victim of crimes, you will understand what I am saying. As lawyers, you must not, in any way, derogate or demean your professional commitment to your clients.
“Even a part of the Money Laundering Act that we have evaluated doesn’t stop me from enforcing the regulations of the EFCC Act and other financial laws in Nigeria.
“It is my duty to trace the proceeds of crimes. And if I trace it to you, I will invite you for questioning, and it is your duty to answer my questions.
“I mean, why do we talk about aiding and abetting crimes? Why do we have accessories before and after the fact? Knowing these will assist me to determine your level of culpability or otherwise.
“We are not saying you are not entitled to your pay, but what we are saying is that the money that comes to you must not be proceeds of crimes.”
dines with Edo Governor, Obaseki and wife
Nigerian music sensation Divine Ikubor, known to the world as Rema, was showered with overwhelming love and admiration by the Edo State government and its people during his grand homecoming welcome party.
The celebration was not just an ordinary gathering; it was a powerful reunion with his roots, filled with heartfelt moments and unforgettable scenes.
The hometown hero, who is gearing up for his much-hyped homecoming concert in Benin City, was seen sharing an emotionally charged moment with his mother, a scene that melted the hearts of many who watched the video.
The Afrobeats star made his way back to Benin, Edo State, in a highly anticipated return ahead of his homecoming concert, this Friday.
On Tuesday, August 27, his record label, Mavin, ignited social media by posting a video of his arrival on X.com, accompanied by the caption, “Benin, your illustrious son; The Prince of Afrobeats – Rema is Home!” This post was just the beginning of a whirlwind of emotions and events that unfolded as the Edo boy returned to his homeland.
One particularly touching video showed Rema and his mother sharing a tender, intimate moment amid the vibrant chaos of the event. The video went viral, capturing the essence of a son’s deep love for his mother, as Rema’s mother, a picture of grace and beauty, beamed with joy while speaking lovingly to her superstar son.
Rema, clearly enchanted by his mother’s presence, couldn’t help but compliment her on her stunning attire, his voice filled with pride and admiration.
Adding to the evening’s splendor, another video emerged showing the Mavin prodigy dining with Edo State Governor Godwin Nogheghase Obaseki and his wife, Betsy Bene Obaseki.
The trio laughed heartily, sharing stories and enjoying the festivities, with Rema clearly feeling the love and pride of his people enveloping him.
SEE VIDEO BELOW
Media
Mother & Son ❤️ pic.twitter.com/k82Uj0m7Dn
— MAVIN (@MavinRecords) August 27, 2024
South African billionaire, Johann Rupert, overtakes Aliko Dangote as Africa’s richest person
AFOLABI
Johann Rupert, South African billionaire and chairman of Richemont, a luxury goods conglomerate, has overtaken Aliko Dangote, chairman of Dangote Industries Limited, as Africa’s richest person.
According to the latest data from the Bloomberg Billionaires Index, Rupert’s net worth has surged to $14.3 billion, overtaking Dangote, whose fortune has declined to $13.4 billion.
The data shows that Rupert’s wealth has increased by $1.87 billion year-to-date, while Dangote’s fortune has declined by $1.69 billion.
Nicky Oppenheimer, another South African billionaire, occupied the third place with $11.3 billion net worth, Nassef Sawiris, an Egyptian businessman, followed with $9.37 billion, and Natie Kirsh, a South African investor, completed the top five with $9.14 billion.
The downturn in Dangote’s net worth is largely attributed to Nigeria’s challenging macroeconomic environment, where his conglomerate primarily operates.
Since President Bola Tinubu assumed office in 2023 and partially removed petrol subsidy while easing currency controls to attract foreign investment, the naira has lost its value.
The Dangote Group has faced production delays and other industrial issues at its refinery, compounded by the steep depreciation of the naira.
The decline has significantly impacted Dangote, whose wealth is largely tied to assets denominated in naira.
Despite the challenges faced, the Dangote Group plans to generate roughly $30 billion in revenue by 2025, focusing on expanding its influence in the foreign exchange market.
Four people have been jailed after forging more than 2,000 marriage certificates to help people live in the UK illegally.
Abraham Alade Olarotimi Onifade, 41, Abayomi Aderinsoye Shodipo, 38, Nosimot Mojisola Gbadamosi, 31, and Adekunle Kabir, 54, were all sentenced at Woolwich Crown Court in London on Tuesday.
The Home Office said the four were part of an organised criminal group that made fraudulent EU Settlement Scheme applications for Nigerian nationals.
They carried out the enterprise between March 2019 and May last year, and were also found to have provided false Nigerian Customary Marriage Certificates and other fraudulent documentation to help applicants remain in the country.
An investigation from the Home Office in the UK and Lagos found more than 2,000 false marriage documents were facilitated by the group, who themselves were Nigerian.
Home Office chief immigration officer Paul Moran said: "This group was absolutely prolific in their desire to abuse our borders and have rightly been brought to justice.
"As with many gangs we encounter, their sole priority was financial gain. I am delighted that my team was able to intercept their operation, and I hope these convictions will serve as a warning to unscrupulous gangs who exploit people's desperation to remain in the UK.
"We will continue to work tirelessly to secure our borders and clamp down on the gangs who prey on vulnerable people to make money."
Onifade, from Gravesend in Kent, and Shodipo, from Manchester, were both found guilty of conspiracy to facilitate illegal entry into the UK and conspiracy to provide articles used in fraud. They were jailed for six years and five years respectively.
Gbadamosi, from Bolton, was convicted of obtaining leave to remain by deception and fraud by false representation and sentenced to six years.
Kabir, from London, was found guilty of possession of an identity document with improper intention but was cleared of obtaining leave to remain by deception. He was jailed for nine months.
A former Governor of Kano State, Ibrahim Shekarau, has revealed that he had to take a loan in 2003 to buy the governorship nomination form for his party’s primary election.
According to him, his party had fixed ₦5 million for the form but he didn’t even have up to ₦500,000.
He explained how his friends and political associates raised money for him. However, it still wasn’t enough, and he had to approach the late elder statesman, Mallam Magaji Danbatta, then chairman of Kano Forum and got a loan of ₦1 million from him.
Naija News reports that Shekarau made the revelation while speaking at the maiden memorial lecture in honour of the late Magaji Danbatta.
“In 2003 my party, the APP, fixed its nomination forms at N5 million and I did not have even N500,000 but my co-contestant Ibrahim little was a millionaire and we learned he had already bought the forms. We managed to raise N1.5 million and N2.5 million was mysteriously raised but the money was still not complete.
” I approached the late Malam Magaji Danbatta, explained my situation and wanted him to support me with a loan to complete the money.He asked me to write and then approved and minuted to the DG Kano forum to pay,” Shekarau said.
The former Governor noted that the mantra of administration built on human capital development and social justice was partly an idea of the late elder statesman.
We Can No longer Buy Fertilizers, We Want The Days Of Buhari Back – Farmers Association President
AFOLABI
The president of All Farmers Association, Kabir Ibrahim, has said Nigerian farmers can no longer afford fertilizers to apply on their farmers due to its high cost.
Kabir Ibrahim said under former president, Muhammadu Buhari, between 2017 and 2020, farmers were able to purchase fertilizer at cheap rates.
Ibrahim regretted that the US dollar to naira exchange was responsible for why farmers could not afford to get fertilizers.
In an interview with Arise TV on Tuesday, Ibrahim explained that the Presidential Farmers Initiative (PFI) of former President Buhari was beneficial to farmers, as it helped to make fertilizers cheap for farmers to afford.
“I think during the Buhari days, the Presidential Fertilizer Initiative (PFI) was formed as a means to make fertilizer available.
“Between 2017 and 2020, we received fertilizer like Coca-Cola. It was all over the place. The price was good. It was the first ₦5,500. After the pandemic, a further subsidy of ₦500 was given and we were buying it at ₦5,000.
“But from 2021 to date, it’s been a problem. The farmers cannot afford it,” he said.
Ibrahim continued on the reason for the high cost of fertilizer, “Well, the value of our currency went down and most of these things are imported, the components that they mentioned.
“We had a pact with Morocco. We were getting them at a very reasonable price and of course they were giving discounts. I think our government appealed to them and then after that, we began to import from other places at the prevailing market rates.
“Then the blenders had to make up whatever money is expended. So it has been a bad situation from that to 2021 to date.”
He explained that flooding has also been affecting farmers. He advised the federal government to return the fertilizer subsidy. He stated that farmers should be able to buy fertilizers at cheap rates like in 2017 for the country to have cheap food.
“Then of course, there are mentions of the effects of climate change and all that. You know when you have flooding, it even washes away the little fertilizer that you are able to put in one place and all that.
“In fact, I was at this meeting, we told them that we want the restoration of what we enjoyed between 2017 and 2020. Let the subsidy be. They really go down to the end users. We want to be able to buy fertilizer all over Nigeria, like Coca-Cola, and it should be affordable to us.
“That way, the hues and cries from consumers will not be as much, because we have to recoup our investments. The fact is that the insecticides, herbicides, the inputs like fertilizers, even labor, we are now paying through our nose system,” Ibrahim said.
The founder of Word of Life Bible Church, Pastor Ayodele Oritsejafor, has shared his battle with cancer and how God healed him.
The clergyman made the disclosure while addressing his congregation.
According to the cleric, he left Nigeria for medical treatment in the USA and knew someone who also travelled to the United Kingdom with the same kind of cancer but never survived it.
He said: “While I was leaving for America, somebody I know was leaving for the United Kingdom with the same kind of cancer. It’s an aggressive cancer. The day I boarded the flight coming to Nigeria, he was in a casket coming to Nigeria.
“How do you face cancer and still stand like this?
“But I did not tell you when I was going to America full of cancer, you did not know, I did not tell you. I look normal because this is my way of life.
“Hear me, I was on my two legs. I walked onto the plane, but he wasn’t there.
“Please don’t clap because I am not better than him but God remembered my heart. I have always had a heart for God.
“I told God, ‘If you save me from this, I would double my service, I would serve you twice more’. God saved me and brought me home.”
In Sararai village, Jigawar Tsada town, within Dutse Local Government Area of Jigawa State, a 40-year-old tea vendor named Abdulrashibu Ya’u reportedly beat a 20-year-old man, Hassan Garba, to death.
According to Daily Trust, the incident arose after Ya’u accused Garba of stealing bread, milk, noodles, and petrol.
Authorities were alerted, and a police team was dispatched to the scene. The suspect, Ya’u, was promptly arrested, while Garba was rushed to Rasheed Shekoni Teaching Hospital, where he was declared dead on arrival.
DSP Lawan Shiisu Adam, the Police Public Relations Officer in Jigawa, revealed that during interrogation at the State Criminal Investigation Department in Dutse, Ya’u confessed to the crime.
He claimed that Garba’s repeated thefts had driven him to anger, and despite informing Garba’s parents, no action was taken. In his frustration, Ya’u tied Garba with a rope and beat him with a stick, which ultimately resulted in Garba’s death.
Neighbors reported hearing Garba’s cries for help, but they were unable to intervene until the police arrived.
“Following a thorough investigation, Ya’u will be arraigned in court to face the full weight of the law,” the PPRO said
President Bola Tinubu who took over from former President, Muhammadu Buhari on May 29, 2023, has taken some hard decisions in line with its policies and programmes.
In his move to restructure the country, Tinubu has removed some principal officers who served under the Buhari administration.
Here is the list of some principal officers who have been sacked by President Tinubu:
– President Tinubu on the 9th of June, 2023 suspended the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
– President Tinubu on the 14th of July, 2023 suspended the Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa.
– The President on the 19th of June sacked all the service chiefs appointed by Buhari.
– The National Security Adviser, Maj-Gen Babagana Monguno (rtd) was replaced with Nuhu Ribadu the same day President Tinubu sacked the service chiefs.
– President Tinubu also sacked the Executive Vice Chairman and Chief Executive Officer of the National Agency for Science and Engineering Infrastructure (NASENI), Bashir Gwandu.
– The President in August disbanded the board and management of the Niger Delta Development Commission (NDDC) led by Lauretta Onochie.
– President Tinubu in 2023 directed the Director-General/CEO of the National Identity Management Commission (NIMC), Engr. Aliyu Abubakar Aziz, to commence 90-day pre-retirement leave.
– President Tinubu on the 1st of September, 2023 sacked Ondo, Cross River NDDC Nominees, Make Fresh Appointments.
– President Tinubu sacked FIRS boss, Muhammad Nami, on Thursday, September 14, and his special adviser on revenue, Zacchaeus Adedeji, was subsequently appointed as the acting chairman of the tax commission.
– President Bola Tinubu, in October, announced the sacking of Chief Executive Officers (CEOs) of agencies under the Federal Ministry of Industry, Trade and Investment and among the affected agencies were the Corporate Affairs Commission (CAC).
– President Bola Tinubu, on the 13th of December, 2023 approved the suspension, removal, and replacement of the Chief Executive Officers (CEOs) under the Ministry of Aviation and Aerospace Development.
– President Tinubu, on the 8th of January, 2024, approved the immediate sack of Babatunde Irukera as the EVC/CEO, Federal Competition and Consumer Protection Commission (FCCPC).
– The President also approved the dismissal of Alexander Ayoola Okoh as the Director-General/CEO, Bureau of Public Enterprises (BPE).
– President Bola Tinubu, on the 15th of June, 2024 directed the resignation of Mr. Mamman Ahmadu from office as the Director-General/Chief Executive Officer of the Bureau of Public Procurement (BPP).
– Tinubu on the 15th of July, 2024 sacked Adekanmbi, and reinstated Prof Zabbey As HYPREP Coordinator.
– President Bola Tinubu, on the 26th of August, 2024 approved the appointment of new Directors-General of the National Intelligence Agency (NIA) and the Department of State Services (DSS).
– President Tinubu on 19th of August,
2024 dismissed Jalal Arabi from his position as Chairman of the National Hajj Commission of Nigeria (NAHCON) and has appointed Professor Abdullahi Saleh Usman as the new Executive Chairman of NAHCON.
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Financial experts and economists have told President Bola Ahmed Tinubu that Nigeria’s 3.19 percent Gross Domestic Product growth rise in the second quarter of 2024 has failed to reflect on the living conditions of citizens.
This comes as the National Bureau of Statistics on Monday disclosed that the services sector pushed Nigeria’s economy to achieve two consecutive GDP growth of 3.19 percent in Q2 up from 2.98 percent recorded in the preceding quarter.
The GDP growth rate is higher than the 2.51 percent recorded in the corresponding quarter in 2023.
According to the NBS data, the industry and services sectors contributed more to the aggregate GDP in the second quarter of 2024 compared to the corresponding quarter of 2023.
Only the services sector contributed 58.76 percent to the total GDP.
A further analysis showed that while the non-oil sector contributed 94.30 percent in real terms to the Nation’s GDP, the oil sector was 5.70 percent in Q2 2024.
Meanwhile, despite the GDP growth, economists query why the two consecutive rises in economic activities have not impacted the living conditions of Nigerians.
This collaborates with the Director General of the World Trade Organization, WTO, and Nigeria’s former Finance Minister, Ngozi Okonjo-Iweala’s recent statement that the country’s economic fortunes recorded a reversal since 2014 with steady GDP growth decline.
Recall that NBS July’s data indicated that inflation slowed down to 33.40 percent from 34.19 percent in June 2024.
Meanwhile, prices of goods and services have remained high for the majority of Nigerians despite policy interventions by President Tinubu’s government.
Speaking with DAILY POST on Monday on the development, Prof Segun Ajibola, a renowned economist and former President and Chairman of the Council of Chartered Institute of Bankers said that Nigeria’s macroeconomics variables have yet to have the desired impact on the living conditions of Nigerians.
According to him, macroeconomic indicators such as GDP must touch the micro indices to change the narrative.
He urged that the government needed to gear towards transmitting the mechanisms between the macro level such as GDP and the micro level such as household income, and consumption.
He added that the country’s rate should be holistic and all-encompassing across the primary (such as agriculture, mining); secondary (manufacturing) and tertiary (services) sectors to have a balanced, fully integrated growth trajectory that can more easily translate to development.
“The truth however is that the macro variables may not have the desired impact on the living conditions of the people unless the macro performance is cascaded down to the populace, especially the masses that are eking out a living.
“The macro must touch the micro to change the narratives. It is the end that justifies the means.
“The improved growth rate is good news no doubt. As a country, we need to work on the transmission mechanisms between the macro level such as GDP and micro level such as household income and consumption, so as not to be entangled in the trap of growth without development, which is ravaging many developing nations.
“It is also important for growth to be driven across the primary (such as agriculture, mining); secondary (manufacturing) and tertiary (services) sectors to have a balanced, fully integrated growth trajectory that can more easily translate to development”, he told DAILY POST.
On his part, a financial analyst and the Chief Executive Officer of SD & D Capital Management, Gbolade Idakolo said that the latest GDP growth is not a pointer that the economy is out of the woods.
Idakolo stressed that the figure is at variance with reality.
In his words, “The economy, in reality, is shrinking and needs a drastic measure to bounce back”, he told DAILY POST.
“The NBS GDP is at variance with reality just like the inflation rate decline. The statistical data used by NBS does not take into cognizance the declining productivity in the economy.
“Most businesses are closing while some are downsizing or relocating because of the harsh economic environment.
“The CBN has continued to increase the interest rates while the Naira continues its downward slide against the US dollar.
“The government needs to rejuvenate the economy by implementing policies that would increase the capacity of SMEs, big businesses and the manufacturing sector.
“The single-digit interest rate loan facility promised by the Federal government should be jumpstarted, as well as the plans for the agricultural sector.
“The GDP figures are not a pointer that the economy is out of the woods. The government should be comparing NBS data with independent sources to have a fair idea of how the economy is performing”, he added.
Also, Prof Godwin Oyedokun, a don at Lead City University in Ibadan said the growth rate might differ across different regions of Nigeria.
“To gain a more comprehensive understanding of the factors driving the industrial sector’s growth, it would be helpful to analyze: Regional Variations: Growth rates might differ across different regions of Nigeria.
“Sector-Specific Data: A breakdown of growth rates within the industrial sector (e.g., manufacturing, construction, mining) would provide more insights.
“Business Surveys: Surveys of businesses in the industrial sector can reveal their experiences, challenges, and expectations.
“By conducting a more in-depth analysis, it would be possible to identify the specific factors contributing to the growth in the industrial sector and assess its sustainability in the face of ongoing challenges”, he told DAIlLY POST.
[DailyPost]
The Asset Management and Corporation of Nigeria has said Arik and Aero Contractors airlines may be merged and converted to a national carrier.
The AMCON Managing Director/Chief Executive Officer, Gbenga Alade, stated this on Monday at an interactive session with media executives in Lagos.
According to Alade, both Arik and Aero Contractor are owing so much money that they may not be able to pay.
He stated that the corporation presented the idea of converting Arik and Aero Contractor to the former aviation minister but it was rejected.
“The former management of AMCON presented the idea of converting Arik and Aero to a national carrier. But the former aviation minister did not buy the idea. We will present it again because that is the best option.
“Unfortunately, the special purpose vehicle that was created by the former management of AMCON for the conversion of Arik and Aero to a national carrier had been sold. But we can create another SPV this,” he explained.
Recall that the former Minister of Aviation, Hadi Sirika, launched the Nigeria Air three days before the end of former President Muhammadu Buhari’s administration.
The development had elicited concerns among stakeholders over the ownership arrangement which gave Ethiopian Airlines a 49 per cent equity stake in the company.
The Federal Government had a 5 per cent equity, while a consortium of three Nigerian investors had 46 per cent.
Reacting to the deal in June 2023, the House of Representatives asked the Federal Government to suspend the operations of Nigeria Air, describing it as a fraud.
In August 2023, the incumbent minister, Festus Keyamo announced that the national carrier project was suspended till further notice.
Keyamo said, “It remains suspended. It was never Air Nigeria. It was not Air Nigeria. That’s the truth. It was only painted Nigeria Air. It was Ethiopian Airlines trying to flag our flag.
“If it is so, why not allow our local plane to fly our flag? So nobody should dispute that it was Nigeria Air.
“Air Nigeria must be indigenous, must be wholly Nigerian, and must be for the full benefits of Nigeria, not that 50 per cent of the profit is for another country.”
Recently, a Federal High Court sitting in Lagos halted the sale of Nigeria Air to Ethiopian Airlines.
The court declared null and void, the sale of the shares of Nigeria Air to Ethiopian Airlines after determining the issues in the suit.
Justice Ambrose Lewis-Allagoa ordered that the Federal Government’s plans to establish a national carrier, Nigeria Air, should be halted.
The judgment was delivered in favour of the Registered Trustees of the Airline Operators of Nigeria and five other aviation industry stakeholders.
At the briefing on Monday, Alade said the present status of Arik and Aero Contractors had been giving him sleepless nights.
“Believe me, it is a very difficult problem to resolve, and it is giving me sleepless nights, particularly Arik.
“Arik is owing so much that they cannot pay,” he stated.
Speaking further, Alade said, “There is a way out. We have met all their major international creditors. Afreximbank is one of them. They (Arik) are owing Afreximbank about $52m.”
After negotiations, he said the airline was only willing to take $8.5m out of the $52m.
“However, where will that $8.5m come from? Where? AMCON doesn’t have money of his own to put there? And then they negotiated and said, okay, ‘let’s take some of the engines of those things away in full and final settlement’. And the truth is that, if they took those engines away, Arik is finished.
“But we said ‘no, we cannot allow you to take it away. Let AMCON give you a kind of bank guarantee. And we will stretch it so that three planes are flying now and by the Lord’s grace, by February next year, we want to make seven planes fly for Arik,” he stated.
The PUNCH recalls that the Nigerian Airspace Management Agency grounded aircraft owned by Arik over a court order instituted by the airline’s creditor and billionaire businessman, Arthur Eze.
Eze had approached the court in protest against his unpaid $2.5m by the founder of Arik Air, Johnson Arumemi-Ikhide.
In a statement by the spokesperson of NAMA, Abdullahi Musa, the agency said the development stemmed from an enforcement action by the FCT High Court on July 19, 2024, which involved attaching Arik’s planes to secure the debt.
In 2016, AMCON took over the management of Aero Contractors after it dissolved the board of the company, appointing a manager to run the affairs of the company in an interim capacity.
AMCON said in a statement by its media consultancy firm that the decision to take over the management of the company was in furtherance of its responsibility of acquiring eligible bank assets and putting them to economic use in a profitable manner.
Similarly, Arik Air, founded by Mr Arumemi Johnson, was taken over by AMCON in 2017 after the carrier’s management failed to honour its debt obligation running into several billions of naira.
AMCON had taken over debts from local banks owed by Arik.
Last year, the corporation asked the owners of Arik to present a credible debt resolution plan to the bad debts manager if it hopes to recover the company from the Federal Government.
AMCON’s asset recovery efforts
In a move to recover outstanding debts of nearly N5tn, Alade announced plans to engage international asset tracers to locate and recover assets hidden by recalcitrant debtors offshore including those masqueraded under special purpose vehicles.
Alade stated that since the new management took over about five months ago, they have successfully collected approximately N100bn from several high-profile debtors and revised the sale of some assets.
He emphasised that the organisation had been receiving strong support from President Bola Tinubu, the Central Bank Governor, the Federal Ministry of Finance, the Attorney General of the Federation, and the National Assembly in their efforts to recover debts transferred by banks to AMCON during the different phases of eligible bank asset acquisition.
The AMCON CEO mentioned that the chairman of the House Committee on Finance had pledged to name and shame obligors, who had yet to repay their debts at a major stakeholders’ conference that would be held before the end of the year.
He revealed plans to organise a conference where senior officials from the Central Bank of Nigeria, relevant ministries, banks, and the judiciary would be invited to discuss the challenges posed by non-performing loans in the country.
He expressed confidence that resolving issues surrounding assets in the oil and gas sector would boost production, generate more foreign exchange, and create employment opportunities for citizens.
He noted that the corporation had achieved remarkable results in two of those assets in less than five months.
In the power sector, he disclosed that AMCON had made significant progress in one of the biggest distribution companies and an abandoned power project in Kaduna.
Alade emphasised the potential impact of addressing power challenges in Nigeria, stating that some banks with approximately 400 branches across the country spend as much as N500bn annually on diesel for their generators.
He believed that tackling the power sector would significantly improve the overall business environment.
According to Alade, AMCON is also working on assets in the telecommunications sector, aiming to revive dormant assets and bring them back into operation.
[Punch]
Afeez Adedigba, the taxi driver who went viral for wearing his wife’s dress while operating a ‘Micra’ taxi in Ibadan, Oyo State, has revealed the reason behind his surprising choice of attire.
In a viral video, Adedigba was spotted driving while wearing his wife’s clothing.
In an interview with a media personality, Ayo Adams, on Monday, the driver explained that his clothes were soaked by the rain, so the quickest solution was to wear his wife’s dress, which was readily available.
He said, “This is not the only cloth of my wife that I have. They are about two. The first time I took the dress, it was raining heavily, and all my clothes were drenched. I had no choice but to take hers since I was still interested in working that day.
“So now, I wear the dress when it rains and put on mine when it stops. That’s why it is always in my vehicle.’
He revealed he was unfazed by passengers’ comments, adding that he was focused solely on earning money and delivering it to the vehicle’s owner.
“It has been quite an age I’ve been driving this micra. And I only seek God’s favour on the job. I moved to driving when I couldn’t raise funds to start the sales of tyres that I learnt at a tender age,” he said.
Adedigba also shared that he has one wife and four children, who motivate him to work hard to provide for their needs.
[Vanguard]
https://www.tiktok.com/@theayoadams/video/7407547331412888837
Media
@theayoadams This Ibadan Micra driver wore his wife’s dress to work, here is his reason. #ibadan #micra #voicesbyayoadams ♬ original sound - Ayo Adams
“ I’m gradually losing my life. I don’t even know how to call people for a job. Please, Nigerians, forgive me.”
It’s been four months since Nollywood star Junior Pope died in a boat mishap while shooting ‘The Other Side of Life,’ the ill-fated movie by burgeoning filmmaker Adanma Luke.
Expectedly, Ms Luke has experienced a series of life-altering incidents since the unfortunate incident, which claimed the lives of five persons on her movie set.
First, the Actors Guild of Nigeria (AGN) suspended her for breaching safety protocols. The police also launched an investigation while filmmakers and actors boycotted her productions.
Before the incident, the 34-year-old producer was known for producing movies such as Iga (Love in Chain) (2020), Narrow Affection (2023), and School Trouble (2014).
Ms Luke’s suspension, which was recently lifted, did little to ease the public outcry and grief. Things got heated on Monday when Ms Luke revealed that she was becoming mentally unstable and sought forgiveness from Nigerians
In an emotional Instagram live video on Monday, the Nollywood producer shared that she could no longer put on a brave face for those still mourning and appealed to Nigerians to consider her side of the situation.
“I don’t have much to say; I’m just here to say I’m sorry,” she said, visibly distressed. “I’m sorry, Nigerians. I’m sorry I took away your loved ones from what people are saying.
“I’m very sad. As much as I try to be strong, I still don’t see myself being strong. I’m so sad that this had to happen on my set. I’m so sad they had to work for me at that time. I’m not God.”
Destined to happen
The 34-year-old producer expressed her regret over the tragedy, explaining that the location had been frequently used for filming without any prior incidents.
“It has been destined to happen. It is meant to happen, but then why me? I never liked the internet or drama, but this puts me out there. A lot of people, a lot of people, have been dragging me. A lot of people have been calling that Adanma don’t talk, let this die down, don’t talk, but I go through a lot. I go through so much. I’m trying to heal, but it’s not coming back. We all love JP (Junior Pope). We all love other people who also lost their lives, my crew members.
“I didn’t do it on purpose. I have been filming at that location, that particular place, for a very long time. Why it had to happen to me is what I don’t know. Every morning, I see myself on the prayer altar asking God, why me? Why me? Why me? Please, Nigerians, I’m sorry—the whole world. We all love JP. We all love JP. I’m sorry.”
Boat plight
The Anambra-born actress recounted her experience on the set, noting that specific issues were overlooked despite her efforts to ensure safety.
She said: “I haven’t visited Asaba in the past two years until that incident. When I wanted to shoot that job, I asked for a better location, and they took me there. The first time I went there, I wondered what was up. Why are they not providing life jackets for us? We had to see the place before we went to the principal shooting.
“Then my PM (Production Manager) told me that ‘that is how they do it there and that a lot of people have been crossing, that nothing has happened, that they’ve been shooting there.’ I wasn’t the first person to shoot a movie there. They shoot there all the time. I wasn’t even filming in the water. It was a means of transportation to the place. It’s not like I did it on purpose. It wasn’t my duty, but I’m taking all the blame. I’m carrying all the crosses. But please, Nigerians, I’m sorry. It has happened.”
No vacation
Adding to the pressure, the embattled producer has had to defend herself against rumours suggesting she went on vacation after the tragedy.
This newspaper’s checks on Ms Luke’s Instagram posts from around the time of the incident reveal a series of comments from trolls discouraging her from moving forward with her life.
Despite not posting for a while after the incident, many have used the platform to blame her, demanding that she remain burdened by guilt over the tragedy.
Addressing the backlash, the Slayers Wears CEO said: “People are even saying I went on vacation. I’m here for business. I travel to help myself. I’ve been indoors, doing nothing, and yet still catering for the families that lost their loved ones.
“Where do you expect me to get all this money from? I need to work. I need to make money. My baby was not even up to three months when this thing happened. You all can’t even imagine what I went through. But please, Nigerians, forgive me. Forgive me. I know I can’t bring back the dead, but…I’m sorry, please.”
Despite offers from friends to take her on a break to regain her sanity, the producer admitted she’s unable to find peace. She said: “My friends are even telling me to come. Just come. Let’s take you on a vacation. Let’s go. But I couldn’t. I couldn’t because they wanted me to get my sanity back. They want me to be okay, but it’s not coming. I do not see myself doing all that.
“I’ve been doing this. I didn’t even know what depression was until this whole incident happened. I’m gradually losing my life. I’m regretting a lot of things. I don’t even know how to call people for a job. Please, Nigerians, forgive me. Forgive me for employing people for a job. I don’t know what to say, but I’m sorry. I’m sorry. I’m losing my life.
“I’ve done a lot that is not even there on the ground. I’ve done a lot that people don’t come out to say on social media. But once it comes to Ada, ‘Ada did this.’ They’ll want to kill me. I believe that if anything happens to me now, everybody will now rest.”
Background
PREMIUM TIMES reported that the tragic boat accident claimed Actor Junior Pope alongside four other crew members in the Anam River in Anambra on 10 April. Before Junior Pope’s death, he expressed concerns about the lack of life jackets during river crossing.
A preliminary report by the Nigerian Safety Investigation Bureau (NSIB) on 25 May revealed that the driver’s distraction caused the accident and that the boat was not certified by the National Inland Waterways Authority (NIWA).
In response to the incident, the Actors Guild halted movie shoots nationwide on 11 April and launched an investigation. The guild also introduced new safety standards in bylaws and lifted the temporary ban on riverine filming in July.
On 13 April, Adanma Luke said she was traumatised over the incident, revealing that she narrowly avoided being on the ill-fated boat due to a last-minute change in plans. She confirmed that while life jackets were available, Junior Pope refused to wear one because it was dirty.
Junior Pope was buried in his hometown of Ukehe, Enugu State, on 17 May, while other victims, including sound engineer Precious Ofurum and makeup artist Abigail Fredrick, were interred in Rivers and Akwa Ibom states, respectively.
[Premium Times]