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The House of Representatives has moved to investigate the circumstances that led to the mass retirement of 1,000 staff members of the Central Bank of Nigeria (CBN).
The House, during its plenary on Tuesday, also resolved to ascertain the N50bn payoff earmarked for the settlement of the entitlements of the affected staff.
This followed the adoption of a motion of urgent public importance raised by the member representing Ohaozara/Oncha/Ivo Federal Constituency of Ebonyi State, Rep Kama Nkemkama.
The apex bank is reportedly preparing to retire approximately 1,000 of its employees as part of its strategic workforce realignment.
Speaking on the motion, Nkemkama expressed concerns over the actions of the CBN, urging his colleagues to rise to the fact-finding challenge.
He called for a probe of the N50 billion payoff money for the affected staff, stressing that the House should he concerned about the sudden mass retirement, including some directors and senior management staff.
“The development raises critical questions about the criteria for selection, transparency, and adherence to due process in line with public service guidelines and labour laws.
“The disengagement of the staff members has socio-economic implications for the affected individuals, their dependants, and the broader economy, potentially leading to increased unemployment and public dissatisfaction,” he argued.
Nkemkama, who was elected on the platform of the Labour Party, said a payoff scheme amounting to N50bn may lack sufficient accountability and oversight mechanisms.
This, according to him, posed risks of mismanagement and abuse of public funds in a sector vital to the country’s financial stability.
The House agreed with his point of view and resolved to set up an ad hoc committee to investigate the matter.
The Reps also resolved to critically examine the N50bn payoff scheme to ensure transparency, accountability, and proper utilisation of funds.
Similarly, the leadership of the House resolved to engage the leadership of the CBN to evaluate the potential economic and institutional impact the mass retirement has on the country’s financial sector.
The lower legislative chamber also urged the CBN to suspend further implementation of the retirement exercise and associated payoff scheme pending the outcome of its investigation.
It called on the Federal Ministry of Labour and Employment to ensure that the rights of the affected staff members are protected in accordance with extant labour laws.
A US judge on Monday upheld her decision to reject Elon Musk’s massive $55.8 billion compensation package at Tesla, denying an attempt to restore the pay deal through a shareholder vote.
In a court filing, Chancellor Kathaleen McCormick of Delaware’s Court of Chancery ruled that Tesla’s attempt to ratify Musk’s compensation package through a June shareholder vote could not override her January decision striking down the package as excessive and unfair to shareholders.
“The motion to revise is denied,” McCormick wrote.
“The large and talented group of defense firms got creative with the ratification argument, but their unprecedented theories go against multiple strains of settled law,” she added.
In a statement on Musk’s X social media platform, Tesla said it would appeal the verdict.
“Shareholders should control company votes, not judges,” said Musk, in a separate post.
The court also awarded $345 million in attorney fees, significantly less than the $5.6 billion requested by the lawyers of plaintiff Richard Tornetta, a Tesla shareholder.
While acknowledging their calculation method was technically sound under Delaware law, which bases fees on the percentage of benefit achieved, McCormick ruled that such a large award would constitute an excessive windfall.
Shareholders originally backed the Musk compensation plan in March 2018 that was specifically designed to reward the 53-year-old founder for Tesla’s significant growth.
But in a lawsuit, Tornetta accused the defendants of failing in their duties when they authorized the pay plan and alleged that Musk dictated his terms to directors, who were not sufficiently independent from their star CEO.
He also accused Musk of “unjustified enrichment” and asked for the annulment of a pay program that helped make the entrepreneur the richest man in the world.
During a trial in 2022, Musk countered that investors in Tesla were some of the “most sophisticated in the world” and able to keep tabs on his management.
He said Tesla had been the laughingstock of the auto industry, and it was only the massive success of the company’s Model 3 that turned things around.
Musk insisted that he played no role in coming up with the package nor discussed his deal with the board members, some of them close friends, who ultimately signed off on it.
The Delaware Court of Chancery has been a pillar of US capitalism for more than a century and is the jurisdiction where roughly two-thirds of American Fortune 500 companies are registered.
Musk on Monday reposted other users’ X posts calling for companies to leave Delaware.
FBI Arrests Nigerian Immigrant Who become First Black Colorado Springs Mayor Over Alleged Election-Related Hoak
AFOLABI
Colorado Springs Mayor Yemi Mobolade has been arrested by the FBI.
He was arrested for allegedly plotting a racist attack on himself to win the election.
The latest development has also led the FBI to refer Mr Mobolade for prosecution for making false statements related to a hate crime hoax intended to boost his candidacy, The Daily Wire reports.
On November 12, the acting U.S. attorney for the District of Colorado announced that three supporters of Mr Mobolade had been charged with writing the n-word on one of his campaign signs and erecting a burning cross in front of it.
The individuals charged are Derrick Bernard Jr., Ashley Blackcloud, and Deanna West.
These supporters were reportedly sending videos of the spectacle to the media to rally Black voter turnout for Mr Mobolade, an African immigrant.
Their actions were allegedly intended to galvanise support for Mr Mobolade during the mayoral runoff election against Wayne Williams.
Mr Mobolade, a left-wing candidate, went on to defeat a white Republican in a closely fought election in the conservative-leaning city.
According to The Daily Wire, FBI investigators obtained communications showing that the now-mayor was in close contact with the lead suspect, Mr Bernard, before, during, and after the incident.
Mr Mobolade was interviewed twice to determine his knowledge of the hoax, during which he strenuously denied having contact with Mr Bernard.
Following his conduct during the interviews, the FBI referred the now-mayor to the Department of Justice for charges related to making false statements to federal investigators.
FBI officials also claimed there were dozens of messages exchanged between Mr Bernard and the now-mayor.
Mr Bernard is a career criminal who was sentenced to 32 months in prison in 2018. He allegedly attempted to kill two police officers and has since been convicted of an unrelated murder of a rapper who disrespected him.
During the interviews, officials noted that Mr Mobolade scrolled through his phone as a memory aide. However, they stated that “he was literally skipping over text messages,” apparently unaware that the bureau had already obtained them from other sources.
An official reportedly said, "The initial response from the Department of Justice was, 'We can’t indict the first Black mayor of Colorado Springs.' In my experience, if anyone else had been in that position, they would have been charged with lying to a federal agent."
The alleged hate crime occurred in 2023, between an April 4 general election and a May runoff election that was scheduled because the general election results were so close.
Orji Uzor Kalu, the lawmaker representing Abia North in the Senate has spoken about how Simon Ekpa, the self-proclaimed leader of the proscribed Indigenous People of Biafra (IPOB), called and issued threats against him for not supporting the agitation for Biafra
The former Abia state governor made this disclosure during an interview with Arise Television on Monday.
Simon Ekpa, a dual citizen of Finland and Nigeria, was arrested by Finnish police on November 21, 2024, and subsequently imprisoned by the district court of Päijät-Häme.
He faces charges of spreading terrorist propaganda via social media in 2021, allegedly inciting violence and terror in Nigeria’s southeast region.
The federal government has been pressing for Ekpa’s extradition to Nigeria to face prosecution, while the Finnish court has set May 2025 as the deadline for filing charges against him.
Kalu, who urged security agencies to enhance intelligence operations, stressed the importance of proactive measures in combating crime.
He said, “I am very strong-willed when it comes to security, and I can do anything to safeguard the lives and property of the people I rule.
“You must be a strong leader to condemn crime, and I eradicated crime. No governor should tolerate any type of crime in his state; it is not allowed.
“Igbos must have safety on their hands. The federal government and state governors should work towards that, and the army should dismantle all the roadblocks in Igboland.
“Where people will come with transport and stop on the road is no longer viable; that is no longer security. Security is about intelligence.
“Simon Ekpa was calling and threatening me that I don’t support Biafra, but I left him to his conscience.
“My conscience is that I am a democrat, an Igbo man at heart, and I believe in this country, and I believe in my tribe, where I come from, in Igbere.”
Kalu asked the south-east governors to be resolute and ruthless in dealing with the activities of non-state actors.
Mrs Rosemary Oromoni, the mother of the 12-year-old Dowen college student, Sylvester, who died in 2021 as a result of alleged bullying in the school has reportedly died after a protracted illness.
Mrs Oromoni was reported to have suffered heartbreak and trauma over the loss of her youngest child.
Two years after her son’s passing, she reportedly succumbed to health complications attributed to heartbreak and trauma.
The late Sylvester Jnr. was allegedly a victim of severe bullying by senior students in the Lagos-based school, leading to his untimely death.
The family’s ongoing fight for justice has kept their tragic story in the public eye, but the latest loss has left the family in huge shock.
“For over two years, Mrs. Oromoni endured an overwhelming burden of grief, ” a family source who confirmed her death on Sunday, said.
According to the source, the emotional toll of losing her son deeply affected her health and she reportedly died on Monday 25, November, 2024..
“Despite medical care and the unwavering support of her family, she struggled to recover. Her sorrow was described as all-consuming, with many observing her inability to eat, sleep, or resume daily life.
“As time passed, her health deteriorated further. Friends and family revealed that Mrs. Oromoni had lost the will to live, with the pain of her son’s death and the ongoing quest for justice taking a devastating toll.
“Her condition worsened until she succumbed to complications on Monday, 25th November 2024.
“Her passing has been met with an outpouring of sorrow and sympathy, with many linking her untimely demise to the unrelenting grief she carried.
“The Oromoni family now faces the daunting task of mourning not only their young son but also a devoted mother whose life was cut short by the weight of her anguish.
“The death of Mrs. Oromoni has reignited public calls for justice for Sylvester Jnr., as supporters rally around the family in their time of need.
“Many see Mrs. Oromoni as a poignant symbol of the devastating impact of unresolved grief and the urgent need to address systemic failings that allow such tragedies to occur.
“As the Oromoni family continues their quest for justice, the memory of both mother and son now stands as a sobering reminder of the profound cost of injustice”, the family source wrote.
Kidnappers have attacked a GIGMobility bus abducting many passengers.
The sad incident which took place on Saturday in the Obajana area of Kogi State has raised concern about safety of Nigerains plying major roads in the country.
In an update on Monday, a concerned Nigerian took to X to raise alarm over the kidnap.
It was learnt that the GIGMobility bus was moving from Lagos State to Abuja on Saturday, when it was attacked by gunmen around Obajana heading to Lokoja.
The kidnappers took all of the passengers away, but only the driver managed to escape.
An X user claimed that her friend was among the abductees and the gunmen had demanded the sum of N100million as ransom to release her.
“Please guys I need your help my friend who went for her convocation in Benin Republic (Cotonou) on our way back from Lagos to Abuja which was yesterday, she was kidnapped at Lokoja, Kogi State, and the kidnappers are demanding N100million for her release due to this incident the driver left the crime scene (GIG LOGISTICS TRANSPORT). I beg you all in the name of God; she needs our help. Help a sister help a friend; help me get my friend back. No amount is too small,” the X user said.
A source privy to the situation added: “She (referring to her friend) was kidnapped in Kogi State and the kidnappers are demanding for 100m. She was travelling with "God is good" motors They kidnapped all the passengers on the bus.”
Another X user said he witnessed the kidnapping incident and narrated how he escaped.
“I drove past the incident yesterday and it was only the driver left. This happened just after Dangote refinery at Obajana heading to Lokoja. All the windscreens were destroyed. The vehicle passed us at Kabba, I was almost a victim just that car overheated at Kabba; so we had to stop.”
Reacting, the company, in a post shared on Sunday evening confirmed the incident.
Former Speaker of the House of Representatives, Yakubu Dogara has made a damning claim on Monday.
He alleged that some state governors write laws from their living rooms.
Dogara spoke during Channels TV’s Town Hall meeting on President Bola Tinubu’s tax reform bills on Monday.
He noted that most state governors don’t consult before making laws within their domains.
According to Dogara: “At the state level, how many governors consult when they are making laws? I’m not challenging them; as a matter of fact, in some cases, state laws are written from the living rooms of governors.
“Should we now stop because governors have not been brought on board even though it’s the right thing to do? Should that be an excuse? The answer is no.
“Then they talk about popularity; all the bills are not popular; I want to tell this audience that what has defined us as humans, most of them were not popular.”
Catholic Bishop of Sokoto Diocese and founder of the Kukah Centre, Most Reverend Mathew Kukah has drummed support for President Bola Tinubu's controversial tax reform bills.
According to him, the bills will end the elites’ financial recklessness.
Bishop Kukah made this statement on Channels Television’s Morning Brief on Tuesday.
He urged the Federal Government to ensure that the ongoing reforms lead to the country’s development.
Recall that the bills have attracted criticism in several parts of the country since they were sent to the National Assembly
Some critics said the bills are targeted against the northern region, with millions arguing they will overburden Nigerians.
“Nigeria is a very energetic country with people that are so eminently gifted and are roaring to soar at any time.
“However, our problem is the inability of states to create enough gatherings to contain the energy, vision, and competing narratives of their citizens. This lack of competitive gatherings often spills over into violence.
“But I hear you when you speak about all the issues identified. And I am excited about the issue of tax reform bills because, first, I know nothing about it. But I have started educating myself.
“Any form of reform at all must get this thoroughly dysfunctional country working again.
“So I am excited because hopefully, we can take the time to listen to the conversation about how to avoid and end this financial recklessness, and the irony of Nigerians living by the seaside and washing their faces with saliva.
“The reforms should end the narrative of Nigerians living in a country that is so richly endowed but are spectators to the rascality and irresponsibility of the elites who continue to mismanage our resources.
“So I’m hopeful that this is the beginning of a very long journey of fiscal management and efficiency that can lead to the growth and development of the kind of country that we envision,” the cleric said
If You Continue This Way, You Will Milk Nigeria To Death – Obi Of Onitsha Sends Warning To Politicians
AFOLABI
The Obi of Onitsha, His Royal Majesty, Nnaemeka Achebe has lamented about the high level of corruption in the nation.
The monarch urged those in leadership to put public interest above personal and individualistic desires, insisting that this is the only way Nigeria will grow.
He shared his concerns over the economic situation in the country in Abuja at the public presentation of a book,’Bold Leap’ authored by Senator Chris Anyanwu.
His Royal Majesty warned that with the increasing level of corruption in the country which is akin to milking a cow, the cow would soon die if incorruptible milking was not stopped.
He condemned the attitude of the political class towards accountability and good governance, likening it to the ignoble attitude to milking the cow continuously without replenishing and sustaining it.
The Obi of Onitsha said: “Should we continue milking the cow, it will die. In this country, since independence, we’ve been talking and talking and talking and talking and talking. I think it’s time we begin to think about doing something because we have two alternatives. Keep milking the cow until it dies, because of our sectional interests, which we tend to protect, and our personal interests. People go into public service, not to serve the public, but to serve their interests.
“Either we keep doing that and milk the cow to death, or we do the opposite and place Nigeria above everything else.
“And I would like to add that time is not too much in our favour. It’s either we milk the cow to death very, very fast, or we can turn around the country very, very fast.”
Bold Leap, which had a gathering of Nigerians made up of former Presidents, ex- Presidents of the Senate, past and present senators, and former governors is an autobiography of Senator Anyanwu with 600 pages, three parts, and 19 chapters.
President Bola Tinubu was represented by the Minister of Special Duties and Inter-Governmental Affairs, Zaphaniah Jisalo, the Chairman of the event and former President Olusegun Obasanjo was represented by former President of the Senate, Senator David Mark; former President Goodluck Jonathan was represented by ex-President of the Senate, Senator Anyim Pius Anyim, the Emir of Kano, Sanusi Lamido Sanusi, Jaja of Okpobo, former Senators, former Anambra State governors, Chris Ngige and Peter Obi, Pan Niger Delta Forum, PANDEF’s spokesperson, Dr. Obiuwevbi Ominimini, Senators, Captains of Industry, among others were present at the event.
Presidential aide, Bayo Onanuga has reacted to claims that President Bola Tinubu's controversial tax reform bills will make Lagos and Rivers richer than other states.
Defending the bills on Monday, Special Adviser to the President on Information and Strategy, Bayo Onanuga, expressed regret that in the last few weeks, various political actors and commentators have tried to obfuscate the facts, deliberately misinforming and misleading the public.
The presidential spokesperson said most of the reactions are not grounded in facts, reality, or sufficient knowledge of the bills.
He lamented that while some commentators have attempted to incite the people against lawmakers, others have polarised one section of the country against another.
Giving further insight into the policy, Onanuga reiterated that the tax reform bills will not make Lagos or Rivers more affluent than other parts of the country, as recklessly canvassed.
He assured that the bills would not destroy the economy of any section of the country. Instead, they aim to enhance the quality of life for Nigerians, especially the disadvantaged, who are trying to make a living.
“Contrary to the lies being peddled, the bills do not suggest that NASENI, TETFUND, and NITDA will cease to exist in 2029 after the passage of the bills.
“Government agencies, such as NASENI, TETFUND, and NITDA, are funded through budgetary provisions with company income tax and other taxes paid by the same businesses that are being overburdened with the special taxes.
“One reason President Bola Tinubu embarked on the Tax and Fiscal Policy Reforms is the need to streamline tax administration in Nigeria and make the operating environment conducive for businesses.
“For decades, businesses, investors, and private sector players in Nigeria have complained of being overburdened by a myriad of taxes and levies, including those earmarked to fund various government agencies and initiatives,” the presidential media aide stated.
He insisted that the multiple taxes complicate the economic environment, making Nigeria uncompetitive for investment and preventing many businesses from growing or continuing their operations.
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An Islamic cleric, scholar Ahmad Abubakar Gumi has thrown his support behind President Bola Tinubu's controversial Tax Reform Bills.
He claimed the bills are a good package for all Nigerians amidst opposition from northern governors, lawmakers and traditional leaders.
They claimed if the bills are passed into law, it will impoverish the region.
The stance of the northern leaders have stimulated a fight between Southern and Northern stakeholders.
The bills sparked a fresh debate since Thursday last when it passed second reading at the upper legislative chamber.
Speaking on the matter on Tuesday, Gumi said that the tax bill is a good package for all.
Gumi, however, said that the Value Added Tax which is the most contentious part of the bills should be reviewed.
Asked what his position was on the controversy surrounding the bills, Gumi simply said, “I believe the contentious VAT issue is the only part that needs to be reviewed; otherwise, it is a good package for all”.
Hon Mustapha Tijjani Ghali, a member representing Ajingi/Albasu/Gaya Federal Constituency in the House of Representatives has revealed that President Bola Tinubu's tax reform bills will be rejected.
According to him, after reading copies of the four Tax Reform Bills, he has come to the conclusion that it is anti-people and narcissist in all intents.
Speaking on his personal position on Monday, the lawmaker said he has a corporate finance background and having gone through copies of the Bills forwarded to both Chambers of the National Assembly, he has reservations for the bills and will oppose them when they come up for debate.
He said, “it is normal for a bill to pass first reading and legislators could only debate when it comes for second reading”, adding that many members are weighing the ‘prons and cons’, expressing the belief that the bills would not see the light of the day.
The lawmaker said: “Well, this is a subject of national discourse currently going on and is yet to be debated at the National Assembly or the House of Reps.
“But we are aware it has gone through first reading and this is the second reading and we understand it is an Executive Bill.
“Most of the members, including me, so many people have an opinion about it, but I was able to have the four bills and digest it to my own understanding and to the level of knowledge.
“However, I have a background in finance, as a student of International Corporate Finance, so I have an idea of what all this is all about. The bills actually are not in tandem with public interest and it’s not pro-masses.
“This is a capitalist bill and for such a reason, I, Dr. Ghali Mustafa Tijani, I am rejecting this bill as a member that represents people in the parliament to ensure that my people are well represented and Nigerians have got all the benefits and dividends of democracy.
“Therefore, these tax reform bills are capitalistic in nature and are siphoning the poor, so to say.”
Recall that the bills were debated on Wednesday last week at the Senate amid a rowdy session due to controversies.
EFCC Is Now Afraid Of Big Thieves – Sowore Blasts Anti-Graft Agency For Hiding Owner Of 753 Duplexes In Abuja
AFOLABI
African Action Congress, AAC, 2023 presidential candidate, Omoyele Sowore, has slammed the Economic and Financial Crimes Commission, EFCC, for hiding the identity of the top government official who owns the forfeited 753 units of duplexes in Abuja.
Naija News reported that the EFCC successfully obtained the final forfeiture of a property in the Federal Capital Territory (FCT) following a ruling on Monday by Judge Jude Onwuegbuzie of the FCT High Court.
In a statement made available to newsmen, the spokesperson for the anti-corruption agency, Dele Oyewale, noted that the property spans 150,500 square meters and comprises 753 units of duplexes and various other apartments, marking it as the largest single asset recovered by the EFCC since its establishment in 2003.
The individual who forfeited the property was not mentioned, but Oyewale said it belonged to a “former top brass of the government”.
Reacting, Sowore, in a post on his official Facebook page, tackled the anti-graft agency for withdrawing the identity of the property owner.
According to him, the EFCC is currently afraid of ‘big’ thieves, noting that it is always easier for them to parade suspects who are Yahoo boys, unlike top government officials.
He wrote, “What is the name of the “former top brass” with 753 duplexes seized by the EFCC in Abuja?
“The @officialEFCC is now doing PR for thieves. They seized this large estate with 753 duplexes from a single individual in Abuja but can’t mention his or her name.
“If it is Yahoo boys, they will line laptops and Nokia phones in front of them and send their photos globally even before their trial is commenced. The same EFCC is now AFRAID of BIG Thieves!”
The former lawmaker representing Lafia/Obi Federal Constituency in the House of Representatives, Joseph Haruna Kigbu, on Monday, was abducted by suspected bandits while traveling to Jos.
Naija News learnt that the incident happened around 6:00 p.m., between Nunku in Akwanga Local Government Area, Nasarawa State, and Gwantu in Sanga Local Government Area, Kaduna State.
The kidnappers during the attack shot the police escort assigned to Kigbu, who attempted to resist the abduction.
According to Vanguard, eyewitnesses revealed that the bandits fired sporadically, causing panic among motorists in the area.
Local villagers confirmed the incident, adding that the location has been a hotspot for criminal activities over the years.
The abduction of Dr. Kigbu and the death of the police escort underscore the persistent security challenges plaguing the region, with many residents calling for increased security presence in the area.
In other news, residents of Akankan Area of Ede, Osun State, have been thrown into mourning due to a devastating fire that engulfed the residence of a Customs officer, Tijani Kabiru, attached to the Oyo/Osun Command, killing him, his wife, and four of their children.
Naija News learned that the fire outbreak that occurred in the early hours of Monday also sparked panic and disbelief in the community.