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Femi Otedola, billionaire businessman and chairman of FBN Holdings, has acquired an additional 2.22 percent shares in the First Bank of Nigeria
The acquisition was disclosed in a corporate filing on the Nigerian Exchange Group (NGX) on Monday.
The fresh acquisition further cements the billionaire’s control of the company as his shareholding has now reached 11.63 percent — the highest.
More to follow…
[TheCable]
The Minister of Women Affairs, Uju Kennedy-Ohanenye has made an accusation against the past government of Muhammadu Buhari.
The minister said the last administration mismanaged the first tranche of the $500 million World Bank loan for women’s empowerment in the country.
Speaking during an appearance on Arise Television’s Morning Show on Monday, Kennedy-Ohanenye alleged that the first tranche of the loan, which is $100 million, meant for the Nigeria For Women Project, was mismanaged.
The Project is a strategic engagement between the World Bank and the Nigerian Government set to improve the livelihood of Nigerian women.
A statement from the bank said the loan is a scale-up financing for the women’s project, which was initially approved on June 27, 2018, with $100m financing.
It stated that the loan will help to ensure better economic opportunities for women, which is essential for addressing gender inequality; guaranteeing better education, health, and nutrition outcomes for families; and building women’s and communities’ resilience to climate change.
Speaking during the interview, Kennedy-Ohanenye said the $100 million was disbursed by the Buhari government and the expenditure didn’t reflect the Renews Hope Agenda of the Tinubu administration.
The minister also alleged that the first tranche was mainly used for advocacy, meetings, and consultancy services and was shared among the states without proper accountability and transparency.
She stated that the project, which is meant for vulnerable women in the country, and the project has been launched in 15 states and the Federal Capital Territory.
She said, “About the Nigeria For Women Project, let me first tell Nigerian women to clap for President Bola Ahmed Tinubu, who came in after the first $100 million had been expended. When he came into the office, he looked at it with me and we were not satisfied with how the money was used. Let me make it clear, this is not a grant, it is a loan and when monies are given out as loans, they must be managed well so that the money can be paid back. if we don’t manage it well, how do we pay back the loan?
“When money is a loan, we expect whoever is given the loan to be allowed to utilise it properly in a way that the money will be paid back, so Nigeria will not continue owing all the time. So, the first $ 100 million, when I came in, I was not satisfied. It didn’t augur well with the Renewed Hope agenda. It was mainly for advocacy, meetings, and consultancy, and that was it and they shared it among the states. But remember, the project is called Nigeria For Women Project. It is supposed to be meant for projects for women, but that was not the case.”
The minister also stated the new structure has been forwarded to the Minister of Finance, Wale Edun, for restructuring for the commencement of the disbursement.
She added, “Fortunately, I quickly raised a new structure on how that money will be utilised so there won’t be more issues of advocacy, meetings and consultancy, which to me is a way of lavishing the money. So we took a new structure to him (Tinubu), he looked at it and he signed a memo, approving it for restructure. I quickly wrote to the Minister of Finance, Wale Edun, and I’m waiting for the new template to be restructured because Nigerian women are concerned, and we can work with the old structure.
“The former structure was there and women continued suffering. $500million is not a small amount of money, and I can assure you that it can change the lives of every woman who is vulnerable in this country, and I have planned myself from the Federal Ministry of Women Affairs, awaiting the new structure. What did I do? I created a portal, and we have started onboarding women from the communities we partner with all the traditional rulers and commissioners across the nation and they have started onboarding the vulnerable women from communities.”
Nigerian businessman, Olakunle Churchill has taken to Instagram to mourn.
The businessman said his first wife is dead.
According to him, his first wife is his grandmother.
Olakunle who was married to Tonto Dikeh took to his Instagram page early on Monday morning, 24th June to make the heartbreaking announcement.
He accompanied the post with a video of the aged woman lying on a hospital bed.
Churchill referred to his grandmother as his first wife, amassing sympathy and condolence messages from netizens.
He wrote:
“My first wife is gone forever.”
Check out the post beneath:
I Pray My Husband of 25 Years Lives Long, He’s My Backbone - Billionaire Businesswoman, Shade Okoya
AFOLABI
Shade Okoya has revealed her prayer for her husband, Rasaq Okoya.
The Nigerian billionaire industrialist said she prays for her husband to live long.
She opened up on her 25-year marriage to her husband.
In an interview with Channels TV, the businesswoman emphasised that their relationship is “beyond husband and wife”.
Shade, 47, said although they have been “through a lot together”, she prays for long life for her husband “because he is my backbone”.
“My husband is my everything. When you see both of us together, our relationship is beyond husband and wife. We’ve been through a lot together,” she said.
“I pray he lives many more years because he’s my backbone. I have always given him all the respect and will never tarnish his image. My generation will forever be grateful to him and I pray God will help us to see through what we intend to do for him.”
Shade earlier revealed how she resolves conflicts with her husband. She said she is “never in a hurry to respond” during a misunderstanding with her husband.
She said instead of arguing with her husband, she “listens carefully” to him and tries to “understand his point”.
Rasaq is the owner and founder of Eleganza Group, a leading conglomerate in the manufacturing industry.
The Peoples Redemption Party (PRP) has condemned the Presidency’s decision to purchase new luxury jets for President Bola Ahmed Tinubu, describing it as reckless, insensitive, and a clear testament to the government’s detachment from reality.
Recall that Presidency sources had previously stated that the new jets are intended to enhance the President’s security and comfort during official trips.
However, the purchase has continued to spark outrage among many Nigerians, who view it as an unnecessary expense and a sign of the government’s disconnect from the people.
In a statement released on Monday, signed by Muhammed Ishaq, the party’s Acting National Publicity Secretary, the PRP criticized the government for prioritizing the President’s comfort over the welfare of Nigerians, who are struggling with economic hardship and poverty.
The party questioned the rationale behind the purchase, given the country’s current economic situation, and accused the government of being out of touch with the realities faced by ordinary citizens.
The PRP also noted that the Presidential jet purchased in 2003 is only 19 years old, and questioned why the government is not learning from examples of other countries like China and the US, which have used their presidential jets for 24 and 34 years respectively.
The PRP demanded that the government reconsider this wasteful expenditure and focus on delivering tangible benefits to the Nigerian people.
The party further called on all well-meaning Nigerians to join them in condemning this reckless spending spree and demanding better governance from their leaders.
PRP said, “The government’s decision to purchase new airplanes for the Presidential fleet is a clear testament to their detachment from reality and lack of empathy and accountability.
“They are prioritizing luxury spending over the welfare of the people, despite the country’s crippling economic woes and citizens struggling to make ends meet.
“It is unconscionable that the government is indulging in lavish spending sprees when the economy is in ruins, inflation rates are inching towards 40%, and workers’ wages have not been reviewed.
“They should focus on addressing the pressing issues of poverty, unemployment, and economic stagnation.
“Other countries like China and the US have shown that it is possible to manage with fewer resources. China purchased its Presidential jet from Boeing in 2000 and has been flying it for 24 years, while the US has a Presidential jet manufactured by Boeing that was purchased in 1990 and has been used by six successive American presidents for 34 years.
“We urge the government to remember that they are not serving themselves but the Nigerian people. They should prioritize our needs as a nation and be responsible in spending against dwindling resources.
“We demand that this wasteful expenditure be reconsidered and that the government instead focus on delivering tangible benefits to the Nigerian people.”
‘You Will Sink Nigeria Unless You Reduce Ongoing Jamborees In Your Govt’ – Dele Momodu To Tinubu
AFOLABI
A chieftain of the Peoples Democratic Party, PDP, Dele Momodu, has said President Bola Tinubu will fail and sink Nigeria if his administration continues to engage in ongoing insensitivity and jamborees.
Naija News reports that the former presidential candidate made this known in a post shared on his X handle with the caption, “A Nation in Pain,” stating that only a miracle can avert the unpleasant situation that awaits the country.
Momodu said Tinubu must drastically reduce his administration’s insensitivity and ongoing jamborees so that the country does not sink.
The veteran journalist pointed out that those surrounding Tinubu at the Presidential Villa do not tell him how badly the country has deteriorated.
Momodu said that anybody still expecting anything better from the current administration is only deceiving themselves, adding that the Lagos State template used by Tinubu will not work in Abuja.
He said, “It should be obvious to most reasonable Nigerians that the government of President Bola Tinubu is clearly headed in the wrong direction and that only a miracle can avert the cataclysmic conundrum ahead of us.
“It is the reason that I wish to put it on record that one of Tinubu’s brothers is about to register his opinion and proffer solutions that are not difficult to activate and actualize if a leader ever meant well.
“Inside the villa, the President is being hero-worshipped. Those around him are painting a picture of ‘things are getting better, only opposition people are complaining and grumbling…’ Truth is, nothing is working.
“Those who wish to remain in the good books of Tinubu can continue to delude him and themselves.
“It is not always because of desperate needs, but due to the despicable greed of man. They were mentored by him and largely emboldened by the sheer audacity of the wealth that paved his way to maximum power.
“Let those who still care to plead with these people to have mercy on Nigeria. No matter how long Tinubu spends, he will fail spectacularly and sink Nigeria, unless he can drastically reduce the insensitivity and the ongoing jamborees in his government… Sadly, he doesn’t seem inclined that way….”
Former Catholic Archbishop of Abuja, Cardinal John Onaiyekan, has declared that clergymen must continue to speak the truth to those in power, adding that silence means compliance.
According to him, it is wrong to keep quiet in the face of injustice, even if it attracts criticisms from politicians and those in government, noting that politics is for everyone and not just politicians.
The clergyman made this submission over the weekend while speaking at the inauguration of the Catholic Social Teaching, CST, programme at the Catholic Secretariat of Nigeria, CSN, in Abuja.
He stressed that clerics must do the right thing at all times because it is part of their responsibilities.
“As Catholic Bishops, we are often interviewed and make powerful political statements. Nobody can stop us from doing that because it is part of our job. We have a responsibility to teach the right things, even if it means facing criticism from politicians.
“We cannot afford to remain silent in the face of injustice. Silence is complicity, and we must speak out against injustice wherever we see it.
“Whenever we speak nicely, politicians hail us, but when we criticize them and warn them that they are not doing well, they get angry with us, accusing us of dabbling in politics. But politics is not for politicians alone; it’s for everyone.
“We teach the right things, but it’s up to those concerned to take the teaching and work on it. We don’t have the facility to force politicians to do the right thing; we only have the word of mouth, our message.
“Even Jesus taught for three years, and it was the same people he taught who rallied around and crucified Him on the cross. They heard His message, but they didn’t take it. It’s the same today: those who listen to good wisdom will do well, and the people will profit from them,” the Emeritus Archbishop said
Former Senator representing Kaduna Central Senatorial District, Shehu Sani, has alleged that the recent visit by certain prominent Northern politicians to former President Muhammadu Buhari was an attempt to undermine President Bola Tinubu in 2027.
Naija News reports that the Presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, Atiku Abubakar, on Saturday, visited former President Muhammadu Buhari in his hometown, Daura, Katsina State.
It was learnt that the two held a closed-door meeting in the company of some associates, including the immediate past governor of Sokoto State, Aminu Waziri Tambuwal, now a senator representing Sokoto South.
Similarly, former Governor of Kaduna State, Nasir El-Rufai, paid a visit to ex-President Muhammadu Buhari in Daura, Katsina State
In response to the recent visitation, Sani described the move as an effort to regroup Northern political forces for the next general election, predicting that it would ultimately fail.
Sani criticized the attempt to revive Buhari’s political influence and mobilize support, cautioning against stirring Arewa sentiment without regard for the potential chaos it could cause.
On his verified Facebook page, Sani remarked that Buhari, who led Nigeria for eight years, left the North in a worse state than he found it, and that it is too soon for people to forget this reality.
He wrote, “The recent visits by some prominent Northern politicians to Daura appear to be the usual Eid homage, but looking deeper and beyond the facade, it’s surreptitiously a new attempt to build a strong northern alliance using ex-President Buhari as a rallying point to challenge and evict President Tinubu’s government in 2027.
“It’s a regrouping of Northern political forces for the next general election. A project that will eventually kiss the dust.
“They want to resurrect Buhari’s political charm, fanaticism, and mobilize the gullible to another hollow and bewildering end. They want to stock up and light up the Arewa sentiment without considering the inferno it would eventually generate.
“By the time he left power, poverty and insecurity were at their peak more than at any time in Nigeria’s history.
“They had power and wasted it; what do they want to do with it again?”
Sani emphasized that a Southerner has been in power for just one year, and it is too early for Northern elites to start plotting.
He noted that the South did not undertake such actions against Buhari during his tenure. Sani warned that these efforts could destabilize Nigeria’s fragile unity and damage the democratic process.
He condemned the Northern politicians’ obsession with power, stating that opposition to Tinubu’s policies and administration is a democratic right, but inciting Northern sentiments for political gain is a perilous venture.
“A Southerner has been in power for just one year. It’s too early for the desperate and power-hungry northern elite to start plotting. The South never did that to Buhari. Their intended action has the capacity to ruin the democratic process and wreck the fragile unity of the country when the South is awakened to this reality.
“Their obsession with power is condemnable. Opposition to Tinubu from the point of policies, promises, and programs of his administration is a democratic right of any Nigerian. People have the right to speak and criticize the government.
“But attempts to whip up Northern sentiments to achieve their political ends is a dangerous political experiment and expedition at this material time. No serious southerner challenged Buhari for eight years; these power-drunk Northern politicians are dragging the region into a new political journey through a landmine.
“Buhari’s reign ensured nepotistic placement, installation, and dominance of Northerners at strategic positions of authority and power for eight years. Results had shown that they only enriched themselves, pillaged the economy of the country, and pauperized our country.
“The Daura homage of the disgruntled and the obsessed will fail. Our people in the North should reject these faces and their plots.
“They have nothing to offer. From the abandoned Baro Port, Ajaokuta, Lake Chad Basin refilling, and Mambilla hydropower, they failed. They came to power when the North was in the hands of terrorists and left it in the joint hands of terrorists and bandits. The Northern Talakawa should reject their antics,” he said.
The Lagos State Government has issued a 14 day removal notice to owners of buildings and structures at Sangotedo area of Lekki, Okota, and Isolo which were built on drainage channels.
The Commissioner for Environment and Water Resources, Tokunbo Wahab announced the development after an inspection tour to various contravention sites and on-going drainage enforcement projects in Ago Palace Way, Isolo, Sangotedo, Lekki and Ikoyi areas of the state.
He said that the government was committed to restoring sanity in the state.
According to him, “The era of environmental indiscipline and nuisance are over in Lagos. We will not shy away from enforcing all relevant laws irrespective of whose ox is gored.
“Lagos despite its peculiarities as a coastal state with low-lying terrains and a high population density among others has remained afloat because of various measures put in place by the government.”
Wahab, who said the ministry has strengthened its Drainage Enforcement activities said, “I tell people climate change is real and there is a cholera outbreak, We must know that all these things are Interwoven. We must all be responsible and responsive as a people, people cannot continue to brazenly abuse the environment and expect that there will be no consequences.
“At Sangotedo by Lagos Business School, a 48 hours contravention notice have been served to owners of buildings lying within the channels and 14 days abatement and when that elapses the law will take its course.
“We will commence full enforcement after the expiration of all notices with an option of voluntary compliance.”
![Woman Supplying Ammunition To Bandits Arrested In Katsina [PHOTOS]](/media/k2/items/cache/21635fce5d860d95e4c00497dec48725_S.jpg?t=20240624_113000)
A woman, Aisha Abubakar, has been arrested in Katsina State for allegedly transporting ammunition to terrorists.
The incident was reported on Monday by security analyst and counter-insurgency expert, Zagazola Makama.
According to Makama, the ammunition was discovered during a routine search of Abubakar’s luggage.
“The authorities discovered the ammunition in her luggage during a routine search,” he stated.
The suspect initially denied any involvement in the illegal activity. However, Makama reported that she later admitted to her role in the operation.
“She initially denied involvement but later confessed to be transporting the ammunition to terrorist group from Nasarawa state,” Makama explained.
Further interrogation revealed more details about the intended destination of the ammunition.
Makama wrote, “During the course of interrogation, the suspect confesses that she was heading to Yan Tumaki in Dan Musa LGA in Katsina state.”
Makama further emphasised the significance of this arrest in the broader context of counter-terrorism efforts.
“The incident highlights the ongoing efforts to combat terrorism and the importance of vigilance in preventing the proliferation of illegal weapons,” he said.
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About 50 members of the House of Representatives across the six geo-political zones of the country, under the aegis of the Concerned Federal Lawmakers for Peace and Security in the South-East, have written to President Bola Ahmed Tinubu to release the embattled leader of the Indigenous People of Biafra, Mazi Nnamdi Kanu.
They appealed to Tinubu to invoke Section 174 of the Constitution of Nigeria, 1999 (as amended) and Section 107(1) of the Administration of Criminal Justice Act, 2015.
The lawmakers elected on the platform of different political parties in a letter addressed to President Tinubu, dated June 19, 2024, urged the first citizen to commence a peace move to address the insecurity challenges in the South-East.
Some of the signatories of the three-page letter include Obi Aguocha (Abia), Ikenga Ugochinyere (Imo), Afam Ogene (Anambra), Muhammed Jajere (Yobe), Aliyu Mustapha (Kaduna), Midala Balami (Borno), and Abiante Awaji-Inombek (Rivers).
Others are Dominic Okafor (Anambra), Etanabene Benedict (Delta), Abdulmaleek Danga (Kogi), Shehu Dalhatu (Katsina), Chinedu Martins (Imo), Matthew Nwogu (Imo), Peter Aniekwe (Anambra), Koki Sagir (Kano) and Amobi Oga (Abia) among others.
The IPOB leader had last week expressed his desire to have the treason charges filed against him by the Federal Government settled out of court.
He also denounced the killings in the South-East resulting from IPOB agitation for the separation of Igbo from Nigeria.
The lawmakers, in their letter, urged President Tinubu to mandate the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi to invoke his powers of nolle prosequi under the provisions of Section 174(1) of the Constitution and Section 107(1) of the Administration of Criminal Justice Act 2015, and cause the release of Mazi Nnamdi Kanu from detention and discontinue his trial.
They recalled that the President extended this gesture through the office of the Attorney General to activist Omoyele Sowore, who was charged with treasonable felony.
“Your Excellency, we are concerned members of the House of Representatives of the Federal Republic of Nigeria with a strong belief and trust that the Renewed Hope Agenda and the various positive reforms would be seen and felt by all. It is against this backdrop that we, the undersigned, hereby beseech Your Excellency to direct the Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi SAN, to invoke his powers of nolle prosequi under the provisions of Section 174(1) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and Section 107(1) of the Administration of Criminal Justice Act 2015, and cause the release of Mazi Nnamdi Kanu from detention and discontinue his trial.
“We collectively believe this is long overdue and would be instrumental in opening the door for much-needed conversations surrounding peace reformation and inclusivity, as well as addressing the issues that led to the agitations, especially at this time when Nigeria is going through several constitutional reforms.
“Your Excellency, we resolutely believe that this singular act can serve as a pivotal gesture towards national unity, as it would address some of the political, security, and economic concerns in the region. It would encourage stakeholders from the South-East to engage more actively in the national discussions on the renewed hope agenda, thereby promoting inclusivity and addressing long-standing grievances.
“This, we believe, will also help dismantle the apparatus of violence and restiveness that has plagued the region, allowing for a focus on economic growth and development. This comes at a time when the nation-state is under enormous pressure, including but not limited to unemployment, insecurity, hunger, and poverty, thereby de-escalating tension from all sides.”
Chioma Rowland has revealed that musician Davido threw a surprise bridal shower party for her.
This is as videos emerged from Chioma’s bridal shower on Sunday night and in one of the clips, the chef was captured narrating how her fiancé planned the party without her knowledge.
She explained that Davido lured her out of the house by telling her that they were going for a dinner date but it turned out to be her bridal shower.
She said, “Let me tell you a story. I know this is an event centre and David said we were going to eat.
“He was trying to get the exact location and when we got outside, he asked somebody something and I said, ‘This is not a restaurant. I’m hungry, I want to eat.’ Then I saw balloons, I just started screaming.”
Recall that Davido confirmed a few days ago that he and Chioma would have their wedding on June 25, in Lagos.
On Sunday evening, the Afrobeats star threw social media into a frenzy with the release of his pre-wedding photos with Chioma.
Davido had previously stated that attendance at his wedding was strictly by invitation.
The 2023 Labour Party presidential candidate, Peter Obi said the exodus of multinational companies from Nigeria has cost our nation a staggering N95 trillion in the past five years.
Obi stated this in a statement via his X handle on Monday.
He expressed concern over the departure of over ten major companies in the last year alone, including GlaxoSmithKline, Equinor, Sanofi-Aventis, Bolt Food, Procter & Gamble, Jumia Food, PZ Cussons, Kimberly-Clark, and Diageo.
Obi stated, “I am compelled to address the alarming exodus of multinational companies from Nigeria, which has cost our nation a staggering N95 trillion in the past five years.
“According to The New Telegraph, in the last year alone, over ten multinational giants such as GlaxoSmithKline, Equinor, Sanofi-Aventis, Bolt Food, Procter & Gamble, Jumia Food, PZ Cussons, and Kimberly-Clark, Diageo and others, have exited Nigeria, citing eerily consistent reasons.”
Speaking on the nature of the issue, Obi said, “It is clear these issues are not coincidental but symptomatic of a larger governance problem.”
Meanwhile, Obi has called for action from the authorities, saying Nigerian leaders must address the trend of multinational companies leaving Nigeria.
He said, “The responsibility lies with our leadership, those we put in charge to urgently address these challenges.”
The former Anambra governor outlined areas for improvement, including creating a business-friendly environment, prioritising security, stabilising policies, and reducing energy costs.
He also stressed the importance of “cultivating a culture of transparency, accountability, and good governance.”
Obi further called for unity and transformation, saying, “Let us unite to transform Nigeria into a nation conducive to business, attractive to investment, safe and prosperous for all citizens.
Together, we can make Nigeria a beacon of hope and progress in Africa and the world.”
Recall that GlaxoSmithKline Consumer Nigeria Plc had announced plans to shut down its operations in the country.
The announcement was disclosed in a press statement and filed with the Nigerian Exchange Limited. It was signed by the Company Secretary, Frederick Ichekwai.
Similarly, Jumia Food, the food delivery service of the e-commerce company, Jumia Technologies, announced plans to shut down operations in Nigeria in December 2023.
Jumia said it will close its food delivery business in Nigeria and six other countries in which it operates by the end of the year to focus on growing its core online retail business.
Saudi Arabia has announced that 1,301 pilgrims died during this year’s hajj.
In an interview on Sunday, Fahd Al-Jalajel, the country’s minister of health, said 83 per cent of the 1,301 fatalities were unauthorised pilgrims who walked long distances in high temperatures to perform the hajj rituals.
The minister said 95 pilgrims were being treated in hospitals, some of whom were airlifted for treatment in Riyadh, the capital of Saudi Arabia.
“1,301 people died during the #Hajj1445 season. May Allah have mercy on them all, 83% of them are not authorised for Hajj, who walked long distances under the sun, without shelter or rest, including a number of elderly people and people with chronic diseases,” he said.
On May 26, the National Hajj Commission of Nigeria (NAHCON) said Tawakaltu Alako, a Nigerian pilgrim, slumped and died in her hotel at Makkah.
Following this incident, NAHCON has reported many more deaths in this year’s hajj.
Abubakar Adamu, head of Nigeria’s medical team for 2024 Hajj, had told journalists on July 17, that one of the Nigerian pilgrims died due to heatstroke while on his way to Jamrate to perform the ritual of throwing stones.
Temperatures in Mecca this year climbed as high as 51.8 degrees Celsius (125 degrees Fahrenheit).
Mohammed Al-Abdulaali, a spokesperson for the Saudi health ministry, had said that more than 2,760 pilgrims suffered from sunstroke and heat stress on July 16 alone.