FEATURES
Senate President Godswill Akpabio and Governor Siminalayi Fubara differed over politicians’ struggle for political office at the funeral of the former CEO of Access Bank and banking icon, Herbert Wigwe.
This was revealed in a trending video shared on X on Saturday.
In the now-viral video, Fubara questioned the motives of the political class attending the funeral, expressing frustration over the violence and power struggles.
Fubara, while giving his remarks at the burial had said: “This one has to do with our political class, what is all this trouble all about.
“You want to kill, You want to bury, what is it all about.”
The Senate President, Godswill Akpabio while reacting to Fubara’s comment directed to the political class who attended Wigwe’s funeral, asked the Rivers governor to quit his political career if he thinks it is not worthwhile.
Akpabio, while making his own remarks, said, “What is the struggle all about? I will answer you.
“The struggle, we are not talking politics. In 2006 I wanted to be a deputy governor, so the then-deputy governor invited me and told me that this office has no money, there is nothing in it. I don’t know why you still insist on removing me from here and taking over.
“So the woman who went with me said ‘Your Excellency, then don’t wait for impeachment, just resign since there’s nothing in it’.
“And he stood up and started punching the woman, and I told him, Your Excellency, don’t punch her, she’s telling the truth. There’s nothing in the office that’s why I want it, because you’re too big for it.
“So your Excellency Governor Fubara, if there’s nothing in the struggle, don’t struggle.”
The remains of the late Wigwes arrived in Rivers State for burial on Friday.
The funeral service was conducted at the Redeemed Christian Church of God in Isiokpo in Ikwerre Local Government Area of Rivers State.
Recall that the trio of Wigwe, wife, and son died on February 9, 2024, in an unfortunate helicopter crash in California, United States of America.
Media
VIDEO: Don't Struggle For Politics, If There Is Nothing In It, Akpabio Tells Fubara
— Punch Newspapers (@MobilePunch) March 10, 2024
Senate President Godswill Akpabio and Governor Siminalayi Fubara differed over politicians' struggle for political office at the funeral of the former CEO of Access Bank and banking icon, Herbert… pic.twitter.com/5rSUKXf126
Some yet-to-be-identified number of persons may have been trapped as a five-storey building under construction collapsed at Basden Street, Fegge, in the commercial city of Onitsha, Anambra State.
It was gathered that the building, meant to serve commercial purposes on completion, collapsed in the early hours of Sunday while some of the construction workers were on the last floor.
An excavator has quickly been moved to the site to begin the evacuation of rubbles and possible rescue operations of any trapped victims.
The reason for the collapse has not yet been ascertained but as of the time of filing this report on Sunday, a source near the area said one person has been rescued as rescue operations continue at the site.
Punch Anniversary Lecture: Guest Speaker, Prof. Wole Soyinka Delivers On Recovering The Narrative0:05 / 1:01
However, details of the incident are still sketchy as the state police spokesman, DSP Tochukwu Ikenga, could not be reached for confirmation.
He did not respond to enquiries on his telephone as of the time of filing this report.
The Public Relations Officer, Anambra State Emergency Management Agency, Chinyere Nworah, has yet to respond to enquiries sent to her telephone.
More details later…
The Nigeria police authorities have dismissed an officer and suspended two others involved in the alleged extortion of 3,000 USD from a Port Harcourt resident.
This is contained in a statement by the Rivers State Police Public Relations Officer, Grace Iringe-Koko, on Sunday.
The statement said while Inspector Michael Odey, one of the errant cops had already been dismissed, the other two, ASP Doubara Edonyabor and ASP Talent Mungo, have been suspended from office.
The PPRO said both officers have been officially suspended following approval from the Police Service Commission, PSC.
“As previously communicated during our press briefing on February 13, 2024, Inspector Michael Odey was found guilty and subsequently dismissed from duty, effective from 07/02/2024, following thorough Orderly room proceedings and a comprehensive review conducted by the Assistant Inspector General of Police, Zone 16,” the statement read.
According to the police spokesperson, the indicted policemen had been arrested while the investigation was ongoing into the allegation.
She assured that the outcome of the police investigation would be made public.
President Bola Tinubu has ordered the Nigeria Customs Service, NCS, to give back the food items they seized at the border communities to the rightful owners, with the requirement that the items should be sold in Nigerian markets.
The Controller-General of Customs, Adewale Adeniyi, disclosed this in Katsina on Saturday while meeting with people from border areas at Kongolam and Mai’Adua border stations.
He mentioned that Tinubu had made a decision to use his authority not based on legal guidelines, “but rather reflecting the deep sense of generosity he holds towards Nigeria.”
“In doing so, he has directed that those food items that were going out of the country that have been seized in various border areas should be returned to the owners on the condition that those goods would be sold in the Nigerian markets.
“So, we will be monitoring you to know if there is a violation of this. Those food items will be returned, and it is a directive that we will pass them back into the Nigerian markets,” Adeniyi said.
Adewunmi Fatai, celebrity makeup artist and baby mama of actor, Mustapha Sholagbade has finally opened up on their messy break-up.
Speaking with Debbie Shokoya on her podcast, she revealed that she learned of their break-up on the internet after he did an interview giving reasons why he can’t marry her.
Adewunmi noted how she and Mustapha were still together when he granted the interview, yet he didn’t discuss anything with her. She claimed that the actor lied about her insulting his mother noting how his mother never congratulated her when she welcomed their son and was even demanding she kneel to greet her and others despite undergoing Caesarian Section (CS).
Adewunmi stated that Mustapha changed overnight and at first, she thought they were just having the usual relationship issues until she read on the internet that he was set to tie the knot. In the celebrity makeup artist’s words:
“I chop my own breakfast for internet. I was still dating him when he granted an interview saying he isn’t marrying me anymore because I insulted his mother. We were together till I gave birth, he was with me in the labor room. So suddenly he just changed, which at first, I believed was a relationship issue until I read on a blog that he was set to marry.
He said in an interview that he couldn’t settle with his babymama and claimed that I wasn’t ready to get married, she only wanted to have a child and insulted my mother..”
“The only thing I told his mother was “Na pikin you born so?.”(In Yoruba) And that was a year after we broke up.
How will I abuse a woman that didn’t even congratulate me when I gave birth. I gave birth through CS and his family came after 3 or 4 days to check on their grandchild. The mom was saying I should kneel to greet her, without caring that I just went through CS, and at the time, he did the interview, we were still talking.
This guy has been rude to my mum not once, not twice”.
Adewumi Fatai was in a serious relationship with Mustapha Sholagbade but the two called things quit reportedly over her erratic behavior.
According to Mustapha, he was not only tired of the relationship; his babymama was always raining curses on him and his mother. He also alleged she left with the baby when he was just 41 days old, among other things.
Following their separation, Mustapha Sholagbade is now happily remarried. He got married o, August 12 in Oshogbo, Osun State. The wedding was witnessed by friends, colleagues and well-wishers.
On his birthday last year, Adewunmi disgraced him, calling him out for being a deadbeat father. She listed out the several things that Mustapha had failed to do for their son.
Reacting to it, Bukunmi Oluwasina pleaded with him to reunite with his son. She begged him not to allow his son pay for the mistakes he made with his babymama.
Watch clip from the interview below:
The National Drug Law Enforcement Agency, NDLEA, on Sunday, said its operatives intercepted a consignment of illicit drug consignment concealed in the engine compartment of an interstate commercial bus w
The agency said it also arrested and took into custody two grandfathers over alleged drug trafficking.
The NDLEA noted that no fewer than 5.2kg of cannabis sativa and opioids were discovered in the engine compartment of the interstate commercial bus marked VDY 187 XA on Thursday, 7th March 2024, along Gbongan – Ibadan road, Osun State by its officers on a stop and search operation on the highway.
The anti-narcotic agency said the bus driver, Iorliam Sughnen Dominic, 35, who took responsibility for the concealment was taken into custody for further investigation.
Details of the drug burst were disclosed in a statement by Femi Babafemi, the NDLEA’s Director of Media and Advocacy.
Babafemi said the previous day Wednesday 6th March, a 26-year-old lady, Obasanmi Esther Iyanu, who produces and distributes skuchies was arrested during a raid on her hideout in Osogbo, the Osun State capital.
He disclosed that at least 16.5 litres of the illicit substance and different quantities of molly and cannabis were recovered from her during the raid.
Babafemi further announced that NDLEA operatives in Borno State arrested a 70-year-old grandfather, Mallam Mai Gemu Adam and 65-year-old Yamama Musa for drug trafficking.
According to the spokesman, they were arrested on Saturday 9th March along with 24-year-old Abubakar Ya’u and Babagana Abubakar Ali, 28, in Maiduguri and Gamboru-Ngala respectively while 32,000 ampoules of tramadol injection were recovered from them.
“Same day, operatives at Geidam in Yobe State intercepted a Golf 3 saloon car heading to Gagamari in Niger republic, where the occupant, Alhaji Mala Tijjani, 28, was to deliver 40 blocks of cannabis weighing 24.5kg to another dealer, while 42 cartons containing 8,400 bottles of codeine syrup weighing 1,260 kilograms were recovered from a driver, Mutari Ya’u, 29, at Katsina road, Kaduna on Tuesday 5th March.
“In Kano State, Nura Yusuf, 35, was arrested with 62kg cannabis at Gadar Tamburawa area, where Abubakar Sani, 40, was also nabbed with 244 bottles of codeine syrup, while Mohammad Alkali, 28, was found with 49, 800 pills of tramadol along Kano-Maiduguri road, on Thursday 7th March. This is just as NDLEA operatives in Lagos State on Wednesday 6th March arrested Aba Thomas at the Igbo Elerin area of the state where 84 litres of scrunchies, 1.1 litres of codeine syrup,4kg cannabis sativa, and 800 tablets of tramadol 225mg were seized from him.
“No fewer than eight suspects were arrested on Friday 8th March when NDLEA officers raided the notorious Karu abattoir drug joint in the FCT, Abuja with 51.3kg cannabis recovered from them. Those arrested include: Buhari Muhammadu; Jamilu Muhammed; Abubakar Wappa; Yahaya Tasiu; Ezekiel Mulanda; Abba Haruna; Habibu Umar and Shamsu Lawali,” Babafemi added.
Similarly, NDLEA disclosed that it arrested two suspects: Pam Thomas, 45, and Stephen Nyam, 38, with cannabis weighing 611.428kg at Zawan, Jos South, while in Kogi state, the operatives intercepted a commercial J5 bus coming from Onitsha, Anambra state to Zaria, Kaduna state on Wednesday along Okene-Lokoja-Abuja expressway.
According to the statement, a total of 8,580 pills of tramadol and exol-5 were seized from a suspect, Yusuf Abdullahi, 40.
Meanwhile, the operatives on Tuesday, raided some lock-up shops at the new market in the Enugu metropolitan area, adding that 371.42kg cannabis and 9.49grams of methamphetamine were recovered.
Reacting to the development, the Chairman/Chief Executive Officer of NDLEA, Mohamed Buba Marwa, rtd, commended the efforts of the Borno, Kogi, Kaduna, Kano, Osun, Lagos, Plateau, Enugu, Yobe and FCT Commands of the Agency for jobs well done in the past week.
Marwa charged them and their compatriots in other formations nationwide not to rest on their oars as they continue to intensify their drug supply reduction and drug demand reduction activities.
Big Brother Naija reality star Natacha Anita Akide, aka Tacha, has revealed that she is in a committed relationship.
She said contrary to assumptions that she is high-headed, stressing that she wakes up at 2 am to cook noodles for her partner.
She disclosed this in a recent interview with media personality, Chude Jideonwo.
The reality star said she and her partner could be planning a wedding and the public won’t know.
Tacha said, “We [me and my partner] could be planning a wedding and you wouldn’t know unless I say otherwise.
“I wake up at 2 am to make noodles for him. I would ask him, what do you want to eat? And in my head I’m like, ‘People would be like Oh God this Tacha on social media.’ And maybe there’s a fight between us, I will tell him, ‘People will think I am the problem but you know you’re the problem.’ Because I’m super nice.
“I do have someone I love and cherish. And most importantly, he understands me. So, even when people are constantly saying, ‘Oh who’s going to settle down with this one?’ I’m like, ‘If your daddy sees me, he’s going to love me.’ He’s going to want me because I’m tall, dark-skinned, cute, and most importantly, I’m beauty with brains.”
Mo Abudu, CEO of the EbonyLife Group, has been recognized as the 2024 Businesswoman of the Year at the prestigious Forbes Africa Woman Awards, held at Emperor’s Palace in Johannesburg on Friday, March 8th, coinciding with International Women’s Day.
Mo Abudu’s exceptional leadership and achievements in the corporate world have earned her the title of “Africa’s Most Successful Woman” by Forbes. Under her guidance, EbonyLife Group has become a powerhouse in the entertainment industry, comprising EbonyLife Films, EbonyLife Studios, the EbonyLife Creative Academy, and EbonyLife Place, Nigeria’s first luxury entertainment resort.
Abudu’s notable productions include highest-grossing blockbusters such as Fifty, The Wedding Party, Your Excellency, and Òlòtūré. Other production successes include Blood Sisters, Netflix’s first Original Nigerian series, which garnered over 11 million hours of viewing time and secured a spot in Netflix’s Global Top Ten list. Wrath and Revenge launched on Netflix over Christmas 2023 and Netflix recently announced the upcoming release of other titles to include an Oloture sequel and Baby Farm – a brand new series, where a young pregnant woman becomes a prisoner of a sinister baby farm operating as the auspices of an NGO.
Furthering her impact internationally, EbonyLife Media has entered into collaborations with renowned studios such as Sony, AMC Networks, Netflix, Starz, Lionsgate, BBC, Westbrook Studios, and Will Packer Productions.
Mo Abudu’s commitment to fostering talent and diversity in the media industry is evident through her partnership with Idris Elba’s Green Door Pictures. Together, they aim to uplift talent from Africa and its diaspora, creating inclusive and diverse content.
Acknowledging her recent accolades, Mo Abudu expressed gratitude, stating, “Gratitude fills my heart as I share this remarkable news with you! Last night in Johannesburg, I was honored with the prestigious 2024 BUSINESSWOMAN OF THE YEAR AWARD at the FORBES AFRICA WOMAN AWARDS. To Forbes Africa, thank you so much! Your recognition is both humbling and empowering.”
She further emphasized the importance of resilience and unity among African women, dedicating her success to her team at EbonyLife, her family, and all the remarkable women who inspire her.
Mo Abudu’s impact extends beyond the entertainment industry; she recently curated the groundbreaking “Echoes of Africa” series at the Academy Museum of Motion Pictures in Los Angeles, showcasing African cinema for the first time in the institution’s history.
Her commitment to empowering the next generation of leaders is reflected in her role as a distinguished judge for the Forbes 30 Under 30 selection committee , her appointment as Creatives Champion for the upcoming UK-African Investment Summit by the UK Government and her work at upskilling the next generation of filmmakers at the EbonyLife Creative Academy.
Mo Abudu’s journey serves as an inspiration to women everywhere, reminding them that with determination and resilience, any obstacle can be overcome. Her message to fellow women is clear: “If you can think it, you can do it. Together, let’s continue to pave the path for generations to come.”
[TheNation]
Experts and crypto enthusiasts have lamented the current ban on Binance naira operations in Nigeria, stating it may increase youth unemployment in the country.
In separate interviews with The PUNCH, the experts called on the government to look for better means of managing the country’s current foreign exchange challenges.
An economist with Lotus Beta Analytics, Shedrach Israel, said that the recent move by the government was tantamount to “treating malaria with paracetamol”.
He claimed the ban on Binance would not address the falling value of the naira.
“I don’t know why the cryptocurrency is being seen as sabotage on the exchange rate because the cryptocurrency is not the major means by which the dollar is flowing in Nigeria. Banning Binance is like giving a malaria patient paracetamol. Although paracetamol may cure the pain of malaria, it does not cure the sickness.
“Similarly, banning Binance has not stopped the naira from falling because the issue is bigger. Binance is just a bit of how much liquidity the dollar has in Nigeria,” he argued.
Israel has called on the CBN to investigate the forex holdings of top Nigerian politicians.
“These people, whether politicians or private citizens, who have stored up forex should be made to convert their money to naira, otherwise, the ban would not be effective.
“Although the CBN governor claimed about $26bn had left Nigeria through Binance unaccounted, the fact is that Binance uses peer-to-peer trade, which means that there is inflow and outflow of naira in the economy. If $26bn has gone out, how much has come in? Binance is not our problem. Some Bureau de Change operators are possibly richer than Binance users,” he added.
According to the National Bureau of Statistics unemployment data, the unemployment rate among youth aged (15-24 years) in Q2 2023 was 7.2 per cent, compared to 6.9 per cent in Q1 2023.
It is estimated that over 22 million people, or 10.3 per cent of Nigeria’s total population, currently own digital currency.
In September 2023, the Securities and Exchange Commission of Nigeria issued a definitive statement, explicitly clarifying that Binance Nigeria was neither registered nor regulated by the SEC.
This official declaration categorises the operations of the renowned global cryptocurrency exchange, within Nigeria as illegal and unauthorised.
In December 2023, the apex bank changed its stance on crypto assets in the country and asked banks to disregard its earlier ban on crypto transactions.
A cryptocurrency trader, John Odiba, however, stated that the effect of Binance’s exit from Nigeria could be both negative and positive, with the positive outweighing the negative in the long run.
“The effect of Binance’s exit on Nigerian users can be both positive and negative. One of them is that it could lead to decreased liquidity in the Nigerian cryptocurrency market, resulting in higher transaction costs and less favourable trading conditions for users. Nigerian users may face some limitations in accessing certain cryptocurrencies and trading pairs that were previously available on Binance, potentially hindering their investment opportunities,” he said.
On the positive side, he said the absence of Binance could create space for local cryptocurrencies like the eNaira to thrive.
“The absence of Binance could create space for local cryptocurrency exchanges to thrive, offering Nigerian users more options tailored to their needs, in the long run,” he said.
According to a crypto enthusiast, Godwin Ojonugwa, his main source of income is the Binance peer-to-peer trade.
He claimed that he was able to fund his education and built himself a befitting apartment through the trade.
He lamented that the current restrictions had negatively impacted his business and he was scared of becoming unemployed.
“Binance has made me a millionaire. I went to school and built my first house with Binance trade. Banning it has made business difficult and I am afraid of becoming unemployed,” he enunciated.
[Punch]
The Uyo Zonal Command of the Economic and Financial Crimes Commission (EFCC) has announced that it has commenced the investigation of ten suspected oil thieves in Akwa Ibom, handed over to it by the Nigerian Navy Forward Operating Base (FOB) Ibaka, Akwa Ibom State.
This information was contained in a statement released by EFCC Spokesperson, Dele Oyewale on Saturday, March 9, 2024.
Oyewale stated that the suspects, who allegedly operated without the appropriate licenses, were apprehended by the Navy while onboard a ship, MT Queen Hansal, loaded with 100 metric tonnes of petroleum products.
Furthermore, he mentioned that during the handover of the arrested suspects and exhibits to the EFCC, the Commanding Officer of FOB, Captain Uche Aneke, emphasized that the Navy will continue to carry out its duty to ensure that Akwa Ibom State remains unfavorable for oil thieves.
The statement revealed, “The vessel MT Queen Hansal was involved in suspicious activities along the Exxon Mobil oil field at position Lat 04’12’ 956 N, Long 007’40’ 186 ‘E’, as it switched off its Automatic Identification System (AIS). The Nigerian Navy, during its task, apprehended the ship, and the vessel along with the 10 crew members were arrested by NNS OJI on December 28, 2023, during an inspection. They were subsequently brought to the base on December 30, 2023.”
Upon receiving the suspects and the products on behalf of the EFCC, Deputy Superintendent of the EFCC, DSE Ayuba Zira, expressed gratitude to the Navy and assured that a thorough investigation would be conducted, and any culpable suspects would be prosecuted accordingly.
“We want to assure the public that the EFCC is going to investigate this conclusively, and everyone found culpable will face justice. The Command will continue to collaborate with the Navy to sanitize our oil industry and waterways,” he stated.
More...
The Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, has disclosed that consultations and engagements regarding reopening land borders are ongoing.
Naija News reports that Adeniyi made this known on Saturday at an interaction session with the Kongolam border community members in Mai’adua Local Government Area of Katsina State.
Reacting to agitation for reopening the borders, Adeniyi said that only President Bola Tinubu has the prerogative to reopen borders in the country.
According to Adeniyi, the Service will focus on removing obstacles to free trade, in line with the present administration’s agenda of fostering economic prosperity.
He said proactive measures had been employed to reduce the number of checkpoints along the border posts and promote synergy between Service personnel and traders.
He said, “Once consultations are concluded, a decision will be taken on the matter.
“We are conscious of the concerns of the border communities, particularly with regards to the number of checkpoints and the closure of land borders.
“I assure you that our operations are always guided by law, and we only operate on delegated powers.
“We have communicated the concerns and complaints by residents of the border communities to the President.
“Because he has listening ears, and directed that we should release confiscated food items, on the condition that it only be sold in Nigerian markets.”
Adeniyi said the Service was collaborating with the Police and other sister agencies to address obstacles militating against free trade in the border areas.
He added, “We know that there are markets around our borders, and we know that not all of them are targeted at taking goods across the borders.
“We will continue to monitor and ensure that food that is produced in Nigeria remains and is consumed in Nigeria. This is because we are in a period of national emergency that has to do with food insufficiency.
“And that is why we must collectively work together to assist the government to enforce the various laws prohibiting exportation of food items at this time.”
Czech Republic’s Krystyna Pyszkova on Saturday won the Miss World 2024 title at a grand event in Mumbai. Reigning Miss World Karolina Bielawska from Poland crowned her successor at the star-studded finale here.
Apart from studying for dual degrees in Law and Business Administration, Krystyna also works as a model. She established the Krystyna Pyszko Foundation and remains actively involved in its initiatives, according to the Miss World website.
After Pyszkova, Miss Lebanon Yasmina Zaytoun was named the first runner-up. India, which hosted the event after 28 years, was represented by 22-year-old Sini Shetty. Mumbai-born Shetty, who was crowned Femina Miss India World in 2022, was unable to make it to the top 4 of the contest.
India has won the prestigious title six times — Reita Faria (1966), Aishwarya Rai Bachchan (1994), Diana Hayden (1997), Yukta Mookhey (1999), Priyanka Chopra Jonas (2000), and Manushi Chillar (2017). The 71st Miss World pageant, which witnessed the participation of contestants from 112 countries of the world, was held at the Jio World Convention Centre in BKC here.
Part of the 12-judge panel for the finale were film producer Sajid Nadiadwala; actors Kriti Sanon, Pooja Hegde; cricketer Harbhajan Singh; news personality Rajat Sharma, social worker Amruta Fadnavis; Vineet Jain, MD of Bennett, Coleman & Co. Limited; Julia Morley, Chairperson and CEO of the Miss World Organization; Jamil Saidi, Strategic Partner & Host – Miss World India, and three former Miss Worlds, including Chillar.
Filmmaker Karan Johar and former Miss World Megan Young hosted the event, which kickstarted on a high note with performances by singers Shaan, Neha Kakkar, and Tony Kakkar. A video message by Chopra Jonas highlighting the importance of ’beauty with purpose’, a tagline associated with the Miss World pageant, was also played at the event.
The cast of Sanjay Leela Bhansali’s maiden web series Heeramandi: The Diamond Bazaar” — Manisha Koirala, Sonakshi Sinha, Aditi Rao Hydari, Richa Chadha, Sharmin Segal, and Sanjeeda Sheikh — also walked the stage with 13 fast-track Miss World contestants on the show’s newly released song “Sakal Ban”. The month-long Miss World event featured a series of rigorous competitions, including talent showcases, sports challenges, and charitable initiatives — all aimed at highlighting the qualities that make these competitors the ambassadors of change.
A member of the House of Representatives and Chairman of the House Committee on Petroleum (Downstream), Hon. Ikenga Ugochinyere has criticized the Senate President, Senator Godswill Akpabio for purportedly launching a political attack on Governor Siminalayi Fubara of Rivers State during yesterday’s burial of the late Chief Executive Officer of Access Bank Holdings, Herbert Wigwe; his wife, Chizoba and first son, Chizzy.
Referring to the struggles by politicians to grab power, Governor Fubara, while delivering his tribute at the burial said, “What’s all these struggles about? You want to kill, bury, what’s it all about?”
Responding to the governor, Akpabio said, “What’s the struggle about? I will answer you. In 2006, I wanted to be deputy governor. The then deputy governor invited me and said this office has no money. There’s nothing in it. I don’t know why you still insist on removing me from here and taking over
“So, a woman who went with me said ‘your excellency, then don’t wait for impeachment, just resign if there’s nothing in it. And I said ‘it’s true; that’s why I want it. You’re too big for it’. So, Mr Fubara if there’s nothing in the struggle. don’t struggle.”
Reacting to Akpabio’s comments, Ugochinyere, who represents Ideato North South Federal Constituency of Imo State, in a statement, described Akpabio’s utterance as childish and unnecessary.
He wondered why the Senate President would decide to turn a sad moment when family, friends are mourning such tragic losses to political jamboree.
He stated that Governor Fubara had never had issues with Akpabio, recalling that although a PDP governor, Fubara urged federal lawmakers-elect from the state to vote for Akpabio as Senate president in the 10th National Assembly.
Ugochinyere further recalled that Fubara supporting Akpabio is to advance “national interest.”
The lawmaker said this is not the first time Akpabio is meddling in opposition politics, adding that the opposition won’t continue to tolerate it.
He said: “The Senate President, Godswill Akpabio should stop meddling in opposition politics. Last month Akpabio at a function in the Tai Local Government area of the state asked the Minister of the Federal Capital Territory, Abuja, Nyesom Wike to look for someone from Ogoni extraction to succeed state governor, Siminialayi Fubara in 2027.
“Today, he’s responding to a remark by the Governor that has nothing to do with him. The opposition is urging the Senate president to be mindful of his utterances. How can he turn the burial of late Access Bank CEO, Herbert Wigwe, wife and first son, such a sad moment, to a political attack? It’s disappointing. That’s political recklessness taken too far. We the opposition parties won’t tolerate such utterances anymore if it continues,” he explained.
[ThisDay]
Experts and crypto enthusiasts have lamented the current ban on Binance naira operations in Nigeria, stating it may increase youth unemployment in the country.
In separate interviews with The PUNCH, the experts called on the government to look for better means of managing the country’s current foreign exchange challenges.
An economist with Lotus Beta Analytics, Shedrach Israel, said that the recent move by the government was tantamount to “treating malaria with paracetamol”.
He claimed the ban on Binance would not address the falling value of the naira.
“I don’t know why the cryptocurrency is being seen as sabotage on the exchange rate because the cryptocurrency is not the major means by which the dollar is flowing in Nigeria. Banning Binance is like giving a malaria patient paracetamol. Although paracetamol may cure the pain of malaria, it does not cure the sickness.
“Similarly, banning Binance has not stopped the naira from falling because the issue is bigger. Binance is just a bit of how much liquidity the dollar has in Nigeria,” he argued.
Israel has called on the CBN to investigate the forex holdings of top Nigerian politicians.
“These people, whether politicians or private citizens, who have stored up forex should be made to convert their money to naira, otherwise, the ban would not be effective.
“Although the CBN governor claimed about $26bn had left Nigeria through Binance unaccounted, the fact is that Binance uses peer-to-peer trade, which means that there is inflow and outflow of naira in the economy. If $26bn has gone out, how much has come in? Binance is not our problem. Some Bureau de Change operators are possibly richer than Binance users,” he added.
According to the National Bureau of Statistics unemployment data, the unemployment rate among youth aged (15-24 years) in Q2 2023 was 7.2 per cent, compared to 6.9 per cent in Q1 2023.
It is estimated that over 22 million people, or 10.3 per cent of Nigeria’s total population, currently own digital currency.
In September 2023, the Securities and Exchange Commission of Nigeria issued a definitive statement, explicitly clarifying that Binance Nigeria was neither registered nor regulated by the SEC.
This official declaration categorises the operations of the renowned global cryptocurrency exchange, within Nigeria as illegal and unauthorised.
In December 2023, the apex bank changed its stance on crypto assets in the country and asked banks to disregard its earlier ban on crypto transactions.
A cryptocurrency trader, John Odiba, however, stated that the effect of Binance’s exit from Nigeria could be both negative and positive, with the positive outweighing the negative in the long run.
“The effect of Binance’s exit on Nigerian users can be both positive and negative. One of them is that it could lead to decreased liquidity in the Nigerian cryptocurrency market, resulting in higher transaction costs and less favourable trading conditions for users. Nigerian users may face some limitations in accessing certain cryptocurrencies and trading pairs that were previously available on Binance, potentially hindering their investment opportunities,” he said.
On the positive side, he said the absence of Binance could create space for local cryptocurrencies like the eNaira to thrive.
“The absence of Binance could create space for local cryptocurrency exchanges to thrive, offering Nigerian users more options tailored to their needs, in the long run,” he said.
According to a crypto enthusiast, Godwin Ojonugwa, his main source of income is the Binance peer-to-peer trade.
He claimed that he was able to fund his education and built himself a befitting apartment through the trade.
He lamented that the current restrictions had negatively impacted his business and he was scared of becoming unemployed.
“Binance has made me a millionaire. I went to school and built my first house with Binance trade. Banning it has made business difficult and I am afraid of becoming unemployed,” he enunciated.