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Amid the increasing demand for an efficient and responsive police system, the Leader of the Senate, Senator Opeyemi Bamidele on Monday lamented the dysfunctionality of the Nigeria Police, pointing out that as currently constituted, the police was not properly established to succeed in the country.
Bamidele, also Vice Chairman of the Senate Committee on the Review of the 1999 Constitution, further observed that any police structure that did not reflect Nigeria’s federal realities would not effectively address the roots of security challenges facing the federation.
He made these remarks at the 2024 Distinguished Personality Lecture Series jointly organised by the Department of Political Science and Institute of Legislative Studies, University of Ilorin, Kwara State.
The lecture, titled “Constitutional Amendment and the Political Dynamics of State Police in Nigeria,” was chaired by the Deputy President of the Senate, Senator Barau I. Jibrin, who was represented by Deputy Leader of the Senate, Senator Oyelola Ashiru.
At the lecture were the Chairman, Senate Chairman on Agriculture, Senator Saliu Mustapha; Chairman, Senate Committee on Trade and Investment, Senator Sadiq Umar; Vice Chairman, Senate Committee on Police Affairs, Senator Akintunde Yunus; Vice Chancellor, University of Ilorin, Prof. Wahab Egbewole (SAN) and Director General, National Institute for Legislative and Democratic Studies, Prof. Abubakar Suleiman.
Speaking at the session, Bamidele dissected diverse socio-economic and political forces responsible for the dysfunctionality of the Nigeria Police and reeled out antidotes to the problems of policing in Nigeria.
While warning against the incessant deployment of the armed forces without compliance with the provisions of the 1999 Constitution, Bamidele faulted the undue establishment and operations of vigilante groups and security outfits at the state levels without national legal framework.
Bamidele explained that the incessant deployment of the armed forces for the purpose of maintaining law and order internally was at variance with their mandate under the 1999 Constitution and did not portray Nigeria as a truly democratic and internally stable democracy.
The senate leader observed that the challenges facing the Nigeria Police “are numerous. How the police are organised, managed, governed and funded can determine its ability to deliver on its constitutional mandate of protecting the life and property of Nigerians.
“Understanding these dynamics can help in appreciating what needs to be done to improve security in the country. It is clear that Nigerians do not fully appreciate the depth and scale of the challenges facing the police.
“I maintain that the police have not been set up properly to succeed in this nation. Effective policing in Nigeria is almost impossible unless there are fundamental changes. Indeed, the constraints faced by the police are used as excuses for various misconducts and unprofessional behaviours by many officers of the force.
“Despite many attempts by its leadership of the Nigeria Police to enforce discipline and even sack bad eggs, operational misconduct is still prevalent in the ranks of police operatives, and this undermines their capacity to decisively respond to pervasive insecurity nationwide.”
He further argued that the regular deployment of the Nigeria Armed Forces across the federation was, no doubt, an indication that the present police structure could no longer address the present security challenges of our nation.
To correct these anomalies, the senate leader canvassed the adoption of decentralised police model to address a myriad of security challenges currently undermining the country’s internal cohesion and disincentivizing investors from coming into the federation.
[DailyTrust]
A 103-year-old Tanzanian woman identified as Mariam Hussein has narrated the lifelong story of love and patience detailing her deep affection for a white boyfriend named John, whom she failed to meet again after he left.
Hussein, who spoke with Afrimax’s English anchor, Simon Greenwood, in Swahili (translated to English) recently said she was convinced that her European boyfriend would find her soon so they could rekindle their love, but she ended up single and celibate all her life.
According to her, John was a young man full of adventure and kindness who had come to Tanzania seeking adventure.
“I met John, a young white man from Europe who had come to Tanzanian in search of adventure and purpose. I helped him navigate and settle comfortably into his new environment. Over time, our friendship blossomed into something more, to be honest, he was unlike anyone I have ever met his manners, stories, and kindness all fascinated me he respected my culture and showed genuine interest in my life and aspirations we spent countless hours envisioning a future filled with love and happiness I believed he was truly unique and indeed he was.
“Our relationship blossomed and I found myself falling deeply in love every moment we spent together made my feelings for him grow stronger, I could see that he loved me too, his eyes sparkled with genuine affection whenever he looked at me and his actions always showed his care and commitment.
“I love him back wholeheartedly and unconditionally because, for the first time in my life, it was all about love in its purest form we shared dreams, hopes and secrets together, building an unbreakable bond I also hoped that John would be the one to change my destiny I dreamt that he may take me away from the life of struggle I had always known and experienced with him I envisioned a future filled with endless possibilities free from the hardship that had defined my past he gave me hope that together we could build a new life full of love and happiness,” the woman said.
The woman, who has never married nor had children, stressed that her hopes were dashed when John abruptly received an urgent call to return to his village without bidding her farewell or explaining.
Devastated by his sudden disappearance, Hussein spent years searching for him, believing that he would someday return to fulfil their dreams.
“I was devastated I couldn’t believe he had disappeared initially. I considered the possibility of it being a prank or a test of my patience. I searched high and low for John desperately hoping for an explanation but he was nowhere to be found days turned into weeks, weeks turned into months and still there was no trace of him months turned into years and yet I clung to believe that John would eventually return.
“I refused to accept the idea that he may not come back anytime soon despite the wonderful moments we had shared, I remained a virgin in our culture, it was expected that preserve her purity until marriage having sex before a marriage was considered a taboo so I made it my priority to maintain my purity…,” she noted.
The 103-year-old woman further asserted that she had always believed that one day she would be married to John and her patience would be rewarded.
“This cultural belief was deeply ingrained in me and I took my commitment to take it seriously even though I loved John deeply and we had an incredible bond. I remained steadfast in upholding this cultural value.
“I believed that one day, we would be married and my patience would be rewarded … however as years went by the hopes of his returns began to fade leaving me feeling both betrayed and alone nevertheless, I remained resolute in my promise to myself and my culture,” she said.
[Punch]
The chairman/CEO of Nigerians in Diaspora Commission (NIDCOM), Abike Dabiri-Erewa, has hailed the appointment of Dr Anne-Marie Imafidon, as the Chancellor of Glasgow Caledonian University, UK.
In a congratulatory message, Dabiri-Erewa said the appointment was a well-deserved one.
Dabiri-Erewa in a statement signed by Abdur-Rahman Balogun Director, Media, Public Relations and Protocols, NiDCOM, said Nigeria is proud of the genius achievements of Anne-Marie, breaking records and setting unimaginable standards at her young age always that has earned her the prestigious assignment to continue to serve humanity.
The statement stated: “While praying for her success and impactful tenure, the NiDCOM boss acknowledged the receipt of her invitation to attend the prestigious Chancellor’s installation slated for July 2, as a special guest of Dr. Anne-Marie Imafidon, saying it is a great honour to her.
“She urged her not to rest on her oars by being a trailblazer and continue to motivate others to be the best in all their endeavours.
“Dr. Imafidon, apart from being the youngest leader of a non-private University and youngest scientist to become Chancellor of a multidisciplinary University, has now become the youngest Chancellor of a major University.
“This feat she has attained began with her siblings when they joined the ExcellenceInEducation.org.uk mentorship program. A program that nurtures inner-city kids.
“While there, she achieved global recognition as the youngest person to attain A-Level in computing and Mathematics followed by a scholarship at Johns Hopkins University in Baltimore, USA at the young age of 13.”
Dr. Anne- Marie in a statement said: “To be welcomed to an institution that stands for the Common Good is one of the greatest honours of my life.”
[TheNation]
Prof. Mahmood Yakubu, Chairman, Independent National Electoral Commission (INEC), says the commission has no constitutional power to conduct local council elections except in the Federal Capital Territory (FCT).
Yakubu said this on the sidelines of a two-day induction retreat for INEC Resident Electoral Commissioners (RECs), on Monday in Lagos.
Reacting to the agitation seeking constitutional backing for INEC to be saddled with the responsibility of conducting local council elections, Yakubu described it as ‘a constitutional matter’.
According to Yakubu, unless necessary constitutional amendments are made, the commission will only continue to organise national and state elections.
“The same section of the constitution that establishes INEC also establishes the State Independent Electoral Commission (SIEC) and we cannot take over their duties.
“It is good for people to engage in advocacy for INEC to take charge of the whole elections, but the constitution has to be amended for that to happen.
“For now, INEC can only conduct the local government elections in the Federal Capital Territory with six area council chairmen and 62 councillors.
“And it is in the FCT that the conduct of council elections has been regular and we are proud that the conduct of the elections there has been done to the best of our capacity.
“So, we are encouraged by what we have done, but as for taking over the state elections, the constitution has to be amended, and we are not there yet,’’ he said.
The News Agency of Nigeria (NAN) reports that some Nigerians are canvassing for the dissolution of the State Independent Electoral Commissions (SIECs) in the ongoing constitutional amendment, to pave way for INEC to take charge of local government elections.
The prooponents believe that state governors were hijacking local councils’ allocation due to irregularities in the conduct of the LG polls.
The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), had in March this year called for the scrapping of SIECs.
Fagbemi said that SIEC’s function should be transferred to INEC, to ensure independence and transparency in the outcome of local government elections in the country.
[Vanguard]
Rita Dominic, the Nigerian actress, has rebuked a critic of her role in the show ‘Lekki Wives: The Reunion’.
On June 17, Blessing Egbe, the show’s producer, announced the release date and inclusion of Dominic.
Since then, the actress has come under fire for accepting to feature in the show.
A critic said Dominic should “have outgrown the role”.
Reacting to the criticism via an X post, Dominic said the critic does not have “artistic integrity”.
She also urged actors to always showcase their skills through available platforms and turn deaf ears to this type of comment.
“Dear Actors, only people who have no single drop of artistic integrity speak like this,” she wrote.
“If you listen to them you will soon begin to believe you are more important than the industry that birth you.
“You are an actor, so make sure to find a way or platform to release the creative energy in you.
“Continue to hone your skills regardless of empty comments like this cos knowledge is never-ending.”
‘Lekki Wives: The Reunion’ is the sequel to ‘Lekki Wives’ which was produced in 2012.
It revolves around five women living in Lekki Lagos, their flamboyant lifestyles, and the significant issues they face daily.
The cast members are Kiki Omeili as Loveth, Keira Hewatch as Peace, Adaora Ukoh as Miranda, Chinonso Young as Cleopatra, and Katherine Obiang as Uju.
In the sequel, Rita Dominic will play Abike, the tout and friend of Uju.
[TheCable]
The multimillion Naira Zungeru Hydro Electricity Dam in Niger state has been hit by an explosion.
The Dam which is yet to be officially commissioned by the Federal government is the fourth located in the state coming after Jebba, Kainji and Shiroro.
Our Correspondent reliably gathered that the explosion occurred early morning of today.
The real cause of the explosion is yet unknown.
A dependable source from the area who confirmed the incident to our Correspondent however said that several of the workers on duty sustained various degrees of injuries and are being attended to at different hospitals close by while those seriously affected are said to have been rushed to Minna, the state capital for more medical attention.
“We saw a foreigner,(Chinese) who is a worker who had severe injuries being ferried to Minna for further medical attention but we cannot say the exact number of staff injured but they are many,” the source added.
Besides the human injuries, the explosion was said to have affected some installations at the Dam.
The implication of the explosion on power supply generally across the country is not yet known.
Details later.
The Ogun So-Safe Corps has apprehended three suspects for buying stolen transformer armoured cables worth N9.8m in OPIC Estate, Agbara, Ado-Odo/Ota Local Government Area of the state.
According to a statement issued by the State Commander, Soji Ganzallo, through the office of the Director of Information and Public Relations, Assistant Commander Moruf Yusuf, the suspects – Mansirina Usman (27), Janadu Ahyarn (20), and Husseni Abdullahi (20) – were arrested on Thursday, around 7pm.
Ganzallo said the arrest was made possible by the corps’ surveillance team, who acted on a tip-off that the stolen cables were being sold in the area.
“Before the arrest, information reached the corps that unknown thieves had vandalised and stolen transformer armoured cables worth N9.8m.
“The Area Commander, Assistant Commander Adeosun Adeniyi, and his team were tasked with bringing the perpetrators to justice within 48 hours,” the statement read.
Ganzallo explained that the suspects confessed to buying the stolen cables from Mustapha and one other person identified as Minister, who are currently at large.
“Usman bought 30kg of cable for N300,000, Ahyarn bought 25kg for N250,000, and Abdullahi bought 20kg for N200,000.
“The suspects had in their possession four off-cut armoured cables, N18,850 in cash, three Android phones, two wristwatches, and two unmarked TVS motorcycles,” it was added.
The three suspects and the items recovered have been transferred to the Nigeria Police Force, Agbara Divisional Headquarters for further investigation and likely prosecution.
Ganzallo commended the surveillance team for their swift action and reiterated the cops’ commitment to combating criminal activities in the state.
A 19-year-old lady has been arrested for conniving with her boyfriend to kidnap an elderly man in Edo state.
Parading the suspect before newsmen, the state Commissioner of Police, CP Funsho Adegboye, said the lady who claims to be an undergraduate went with other members of the gang to the pastor's house and tricked him into opening his gate after feigning she was crying and is a wife to a member of his church.
‘’She was crying that she needed help from the pastor that they should please open the gate for her and that she is the wife of one of the church members. That is the lie she told the pastor. As soon as the pastor opened the door for her, other members of the kidnapping group hijacked the pastor at gunpoint and took the man away.''
The Commissioner cautioned parents to watch their children and wards and monitor what they do and the kind of friendships they keep.
‘’She saw one of the suspects giving the gun to her boyfriend. According to her, it was her boyfriend who lured her into this criminal activity. It is quite unfortunate that a 19-year-old girl! People should be careful''.
When interrogated, the suspect feigned ignorance of the crime and claimed she was forced to be part of the criminal activity.
No fewer than 20 travellers along the Sagamu-Ijebu-Ode Expressway were reportedly abducted by some gunmen at about 8 pm on Sunday while one of the victims was shot in the knee.
The gunmen were said to have ambushed the travellers between Sagamu Area Command of the Nigeria Police and Ilisan township.
The Chairman of Ilisan Development Council, Wemmy Osude, confirmed this to PUNCH Online.
Osude said one of the victims of the attack who is a resident of Ilisan Remo was already receiving medical attention at the Babcock University Teaching Hospital.
He said, “Information reaching me right now confirmed a kidnapping incident between the Area Command and Ilisan City Gate (formerly Delabo).
“A resident of Ilisan (name unconfirmed) was reportedly shot in the knee and is receiving medical attention at Babcock Teaching Hospital.
“Other victims were taken into the bush. While waiting for additional information, please contact your loved ones who may be plying that road at about this time to be cautious.”
Osude said that he had spoken to the resident of the town who was being treated at Babcock University Teaching Hospital and he was said to be in stable condition.
He added, “I have spoken to the Sagamu Area Commander about this incident, and hopefully, we trust that all the security agents will go after these criminals and rescue these people.”
This incident was preceded by the recent abduction of two others and the murder of Prof Yinka Olomojobi of Babcock University, Ilisan Remo, at the Ajadeh Event Centre, along Iperu-Sagamu Road, Iperu Remo, in the Ikenne Local Government area.
Olomojobi was a professor of human rights and gender law.
Efforts to get the reaction of the spokesperson for Ogun State Police Command, SP Omolola Odutola, were unsuccessful as calls put across to her line did not connect.
No fewer than 20 travellers along the Sagamu-Ijebu-Ode Expressway were reportedly abducted by some gunmen at about 8 pm on Sunday while one of the victims was shot in the knee.
The gunmen were said to have ambushed the travellers between Sagamu Area Command of the Nigeria Police and Ilisan township.
The Chairman of Ilisan Development Council, Wemmy Osude, confirmed this to PUNCH Online.
Osude said one of the victims of the attack who is a resident of Ilisan Remo was already receiving medical attention at the Babcock University Teaching Hospital.
He said, “Information reaching me right now confirmed a kidnapping incident between the Area Command and Ilisan City Gate (formerly Delabo).
“A resident of Ilisan (name unconfirmed) was reportedly shot in the knee and is receiving medical attention at Babcock Teaching Hospital.
“Other victims were taken into the bush. While waiting for additional information, please contact your loved ones who may be plying that road at about this time to be cautious.”
Osude said that he had spoken to the resident of the town who was being treated at Babcock University Teaching Hospital and he was said to be in stable condition.
He added, “I have spoken to the Sagamu Area Commander about this incident, and hopefully, we trust that all the security agents will go after these criminals and rescue these people.”
This incident was preceded by the recent abduction of two others and the murder of Prof Yinka Olomojobi of Babcock University, Ilisan Remo, at the Ajadeh Event Centre, along Iperu-Sagamu Road, Iperu Remo, in the Ikenne Local Government area.
Olomojobi was a professor of human rights and gender law.
Confirming the abduction in a statement on Monday, the state Police Command, SP Omolola Odutola, said the kidnappers trailed a man to a rough patch of the road and blocked the victim’s vehicle before forcing him into their van.
Odutola said, “A group of armed individuals, without definite number, in their unregistered Venza Toyota car, trailed a man in his Toyota RAV4 Jeep, grey colour with license plate number – Lagos – AGL-16-JE, to a rough patch of the road, and blocked the victim’s vehicle.
“The criminals fired four rounds of ammunition believed to be from an AK-47 into the driver’s back tyre and another shot into the front tyre. Immediately, the hoodlums alighted from their vehicle and forced the driver of the Toyota Rav 4 into their waiting Venza Jeep, and sped off towards Ijebu-Ode.
“During the incident, the hoodlums also shot at the driver of a Toyota Camry car, black colour, with license plate number – Lagos – AAA-04-JB, inflicting injury on his left leg as he attempted a U-turn. Additionally, a bus driver travelling from Abuja to Lagos in the Ilisan area was stopped by criminals who smashed his bus’s windshield and took his mobile phone after warning him to be cautious as he was not their target.”
The police boss stated that the “injured driver has been promptly taken to Babcock University Teaching Hospital in Ilisan for treatment and is currently responding to treatment.”
She added that there was no casualty during the incident, noting that two vehicles were damaged.
“No lives were lost but the two vehicles damaged by the fleeing suspects have been towed to the station.”
She said the Commissioner of Police has been briefed and has detailed the Anti Kidnapping unit to take up the investigation.
Ola Olukoyede, chairman of the Economic and Financial Crimes Commission (EFCC), has set up a disciplinary team to probe two officers of the agency.
The officers were seen in a viral video “manhandling a female worker” at the Regional Hotel in Ojo, Lagos.
The operatives reportedly invaded the hotel in the early hours of June 27.
Olukoyede had ordered the arrest of the officers on Thursday, while promising a detailed investigation of the incident.
In a statement on Sunday, Dele Oyewale, EFCC spokesperson, said the operatives will appear before the panel on Monday.
He said members of the investigative team are drawn from the promotion and disciplinary committee and the department of ethics and integrity.
“Mr Ola Olukoyede has raised a Disciplinary Team to look into the case of two errant officers of the Commission who allegedly assaulted a female staff of Regional Hotel, Ojo, Lagos,” the statement reads.
Oyewale said the team will recommend appropriate measures.
The statement added that “no stone will be left unturned in getting the officers to account for their unprofessional conduct”.
More...
A rice farmer identified as Taiwo Paul has been murdered by some suspected herders in the Kata Area of Ewekoro Local Government of Ogun State.
PUNCH Metro further gathered that while Paul was allegedly hacked to death by the suspects at his rice plantation in the community, another farmer identified as Peter Danjuma died of electrocution in the Isoyin area of Atan-Ijebu.
The state Police Command confirmed the two deaths in separate telephone conversations with PUNCH Metro on Saturday.
Our correspondent gathered that 26-year-old Paul was found battling for his life in a pool of blood on Thursday after he was allegedly attacked by the suspects.
The spokesperson for the command, Omolola Odutola, told our correspondent that the rice farmer had left his house at Yobo Village to check the crops owing to suspicions of some herders who they suspected had been roaming the area in the past.
When Paul did not return home on time, our correspondent learnt that his twin brother, Kehinde, went to the rice farm to look for him.
PUNCH Metro learnt that Kehinde heard a faint groan from a distance and discovered his twin brother dying in a pool of his blood, bleeding uncontrollably from severe cuts on his hands and right leg.
PUNCH Metro further gathered that all efforts by the deceased’s brother and other villagers to rush Paul to the General Hospital in Ifo failed, as the victim reportedly died on the way.
Odutola further stated that a doctor on duty at the hospital confirmed Paul’s death on arrival.
She noted that a preliminary investigation had begun to apprehend the perpetrators of the heinous crime.
She said, “Detectives from Ewekoro Police Division have visited the crime scene and the hospital for assessment, and photographs have been taken. The deceased’s body was later released to the family for burial.
“Preliminary investigations are ongoing to apprehend the perpetrators, and the case will be transferred to the State Crime Investigation Department at Eleweran for further discreet investigation.”
Meanwhile, another farmer in the Isoyin area, identified simply as Danjuma, was electrocuted to death on Friday morning while feeding birds at a poultry farm.
PUNCH Metro also learnt that he was rushed to the General Hospital in Ijebu-Ode, where a doctor on duty confirmed him dead.
“The detectives of the Atan-Ijebu Police Division have visited the scene of the incident, and photographs were taken.”
Story Highlights
- Nigerian states have experienced a dramatic 123% increase in external debt servicing in the first four months of 2024, reaching N96.52 billion compared to N43.31 billion in 2023.
- This surge reflects heightened borrowing costs amid currency depreciation, significantly impacting state budgets and fiscal health.
- Lagos and Cross River states have seen substantial increases, with Cross River’s debt servicing cost rising by 302%, as states seek relief from rising debt repayment costs.
Nigerian states have witnessed a significant surge in their external debt servicing obligations, marking a 123% increase in the first four months of 2024 compared to the same period in 2023.
According to an analysis of Federal Account Allocation Committee (FAAC) data from the National Bureau of Statistics (NBS), total external debt service payments for January to April 2024 reached N96.52 billion, a substantial rise from N43.31 billion in the corresponding period of the previous year.
In 2023, external debt servicing costs amounted to N120.01 billion, reflecting a 54% increase from the N78 billion deducted in 2022. Notably, 80.4% of what was spent on servicing external debt in 2023 has already been expended in the first four months of 2024, which is 124% more than the total for 2022.
This dramatic increase highlights the heightened borrowing costs among states, potentially impacting revenue and capital budget allocations.
What the data is saying
The data shows that states have moved from spending around N9 billion to over N20 billion monthly, which is more than doubled debt service cost likely due to the naira devaluation.
Also, the debt service payments have moved from a relatively stable amount monthly in 2023 to unpredictable amounts by 2024, reflecting the volatility in the Nigerian foreign exchange market.
- In January 2024, Nigerian states spent N9.88 billion on external debt servicing, a decrease from N13.67 billion in January 2023. This reduction of 27.7% suggests that some states may have less debt service obligations for this month. Also, the exchange rate traded majorly between N830/$1 and N1,000/$1, which was the lowest range within the period analyzed in this report. It appears that the exchange rate factor was yet to be felt in the first month of 2024, as the amount deducted is the same as the average monthly amount deducted for most of 2023.
- By February 2024, debt servicing payments soared to N24.53 billion, a 148.2% increase from N9.88 billion in February 2023. This sharp rise highlights the possibility of currency depreciation impacting repayment costs. Such a leap indicates heightened financial pressures on state budgets.
- March 2024 saw the highest expenditure on debt servicing at N40.41 billion, marking a 309.1% increase compared to March 2023’s N9.88 billion. This dramatic escalation could be attributed to higher maturing debt obligations at the end of a quarter.
- In April 2024, while there was a reduction to N21.70 billion from the March peak, this amount still represented a 119.6% increase over April 2023’s N9.88 billion. The decrease from March may reflect completed debt cycles, yet the continued high levels highlight ongoing financial burdens.
Most hit States
- Lagos State, the economic hub of Nigeria, remains the largest contributor to external debt payments, with expenditures totalling N22.01 billion, a substantial rise from N11.60 billion the previous year, a 90% increase in its debt servicing obligations.
- However, Cross River State experienced the most significant increase, with a staggering 302% rise in external debt servicing, climbing to N5.33 billion from N1.33 billion.
- Following closely, Kaduna State saw a 132% increase in its debt servicing costs. Kaduna State stands out with an increase to N16.04 billion from N6.91 billion in the previous year. It is, therefore, not surprising that Kaduna State Governor, Uba Sani, recently lamented the huge debt inherited from his predecessor. Sani said the state is now left with a few amounts, not enough to pay salary. The governor noted that the huge debt burden was eating deep into the state’s Federal Allocation, adding that due to the rise in the exchange rate, he was paying back almost triple what was borrowed by the administration of Nasir El-Rufai.
- Meanwhile, states like Bauchi and Ogun saw their debt servicing costs more than double, emphasizing the broad impact of rising debt obligations across various regions. Bauchi State recorded an 88% increase in its debt servicing costs, rising from N2.32 billion in 2023 to N4.36 billion in 2024. Ogun State reported an increase of 196% in its external debt servicing payments, jumping from N1.00 billion in 2023 to N2.96 billion in 2024.
This jump points to an expanding debt burden, emphasizing the importance of prudent financial management to safeguard the state’s economic prospects and maintain fiscal health. These states, with their notable increases in debt servicing, face the challenge of balancing their financial obligations with the need to invest in essential services and infrastructure.
What you should know
Nairametrics earlier reported that at least three Nigerian states Ekiti, Cross River, and Ogun have expressed concerns over the rising costs of foreign debt service due to severe foreign exchange volatility.
One of the states called for a possible suspension of the debt repayment for multilateral loans to ease their cash flow.
The Commissioner of Finance of Ekiti State, Akintunde Oyebode, noted that the financial strain caused by rising exchange rates has escalated the costs of foreign debt repayments. Oyebode also noted that significant deductions from the statutory revenue for savings have drastically reduced state balances.
Similarly, the Commissioner of Finance of Cross River State, Michael Odere, expressed fears about the state’s ability to fund capital projects due to reduced revenues.
He suggested a suspension of certain deductions, including those for multilateral loan repayments, especially when distributable revenue is low.
Nairametrics recently reported that the naira value of the total external debt of Nigeria’s 36 states and Federal Capital Territory (FCT) increased by 23.76% from N3.350 trillion to N4.146 trillion between June 2023 and December 2023.
Ekiti, Cross River, and Ogun are among the top 10 Nigerian states with the highest foreign debt stock as of December 31, 2023. There is no data from the Debt Management Office (DMO) on states’ external debt for the first quarter 2024.
As states struggle with increasing debt servicing costs, they have been working to decrease their debt stock. In Q1 2024, states’ total domestic debt dropped by 31% from N5.86 trillion in Q4 2023 to N4.07 trillion and by 26% from N5.48 trillion in Q1 2023.
However, the marked increase in external debt servicing raises concerns about the fiscal health of Nigerian states. The need for prudent debt management and economic reforms has become more pressing, as rising debt costs could divert funds from critical sectors like health and education.
[Nairametrics]
The Nigeria Deposit Insurance Corporation (NDIC) has disclosed that some customers have not been paid their insured deposits because of the discrepancies in their information.
The Managing Director of NDIC, Bello Hassan, told newsmen in Abuja on Sunday that account names discrepancies in Bank Verification Number (BVN) is delaying the payment.
According to him, the corporation had paid substantial amount to depositors of the defunct bank without BVN account linked issues.
Hassan subsequently urged depositors of the bank who were yet to receive their insured deposit credit alert to visit the NDIC’s website and complete their verification forms for their payment.
The managing director said the verification would also include depositors without BVN alternate account.
He said, ”We have already commenced the payment of customers since June 6. We have paid substantial amount to the customers.”
”What we leverage in making the payment is BVN of customers. We trace alternate accounts in other banks and pay them their insured amounts.
“There are some that we have challenges linking up because of some discrepancies between the names and others.
“We are calling on customers that have not received their alerts in their alternate accounts to come forward and complete their verification forms so that we can pay them.”
On payment of depositors with more than five million naira with the bank, Hassan said they would be paid liquidation dividend.
According to him, NDIC has already commenced the process of disposing the physical buildings and also set the process in motion to make sure that they recover the loans and advances that were granted the bank.
”That is what we use in paying those liquidation dividends. We are not going to wait until we recover everything, no.
“As we recover, we will also advertise to say that we will pay liquidation dividends so that concerned depositors will be on the look out for alerts in their accounts,” Hassan added.
[NaijaNews]
Chinze Ojobo, a distinguished contemporary Nigerian artist with over 25 years of experience, recently captivated art enthusiasts and collectors with her groundbreaking exhibition at the prestigious Thames Side Studios in the Royal Borough of Greenwich, London.
Chinze, a Fine and Applied Arts graduate from the University of Nigeria, Nsukka, showcased her profound artistic talent through various mediums, including acrylic on carved wood, acrylic on canvas, acrylic on Ankara cloth, and found objects. Her diverse range of works showcased her versatility and creativity as an artist.
The exhibition, which took place between June 15-16, 2024, was a resounding success, drawing art lovers from all walks of life. Chinze’s open studio allowed visitors to witness her latest creations firsthand, providing an immersive experience that left a lasting impression.
Under the theme, “Melting Boundaries,” Chinze’s exhibition shed light on the pressing challenges of climate change, particularly the alarming rise in displaced populations in Africa and around the world due to desert encroachment, flooding, and the hazardous effects of global carbon emissions. Chinze urged society to unite and address these urgent environmental issues through her art.
Her thought-provoking paintings served as a visual narrative, capturing the devastating consequences of climate change and the human struggle against its relentless force. With a deep understanding of the power of art to convey messages, Chinze’s creations evoked emotions, pushing viewers to contemplate the urgency of the climate crisis and the need for immediate action.
Speaking at the exhibition, she emphasised the importance of raising awareness about climate change and its impact on vulnerable communities. She called for a concerted effort from individuals, governments, and organisations to address the pressing issues of global warming, deforestation, and carbon emissions.
Art critics praised the exhibition and commended Chinze’s ability to merge artistic expression with social commentary. Her work was a powerful catalyst for change, encouraging viewers to reflect on their role in preserving the environment and taking steps towards a sustainable future.
As Ojobo’s exhibition came to a close, it left an indelible mark on the art world and the collective consciousness of those who had the privilege of experiencing it. Through her poignant and evocative creations, Chinze Ojobo succeeded in reminding us of our responsibility to protect our planet and create a better world for future generations.
Chinze has exhibited her works in various cities worldwide, including the New York Art Expo, London, Paris, Jo’burg, Plovdiv, Bulgaria, Los Angeles, Washington, DC, Lagos, and Abuja.
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