The Economic and Financial Crimes Commission (EFCC) has arraigned Willie Obiano, the immediate past governor of Anambra state, over allegations of money laundering.

On Wednesday, the former governor appeared before Inyang Ekwo, judge of a federal high court in Abuja.

Obiano pleaded not guilty to the nine-count charge preferred against him by the anti-graft agency.

Upon arraignment, Sylvanus Tahir, EFCC counsel, prayed the court to remand the defendant in custody pending the commencement of trial.

But Onyinyechi Ikpeazu, Obiano’s counsel, asked the court to grant bail to his client.

Ruling on the applications, Ekwo held that the defendant should enjoy bail on the administrative terms granted earlier by the EFCC.

He added that the defendant’s international passport should be transmitted to the court within 10 days.

The judge also directed the court registrar to inform the immigration service about the passport when it is transferred.

The case was subsequently adjourned to March 4 for the commencement of trial.

In September 2021, the All Progressives Congress (APC) in Anambra had asked the anti-graft agency to probe the state’s finances to unearth “monumental deception”.

Basil Ejidike, Anambra APC chairman, had alleged that Obiano was “fraudulently” using the state’s security vote.

The Governor of Ondo State, Hon. Lucky Aiyedatiwa, has dissolved the State Executive Council, with immediate effect.

All members of the Cabinet are to immediately hand over to the Permanent Secretaries or the most senior administrative officers in their respective offices.

Also, all Senior Special Assistants (SSAs) and Special Assistants (SAs) are relieved of their duties, with immediate effect.

All the affected officials are directed to hand over all government properties in their possession.

The Governor thanks the affected officials for their services and contributions to the development of the State. 

Prince Ebenezer Adeniyan,
Chief Press Secretary to the Governor of Ondo State.

Nigeria’s First Lady, Senator Oluremi Tinubu, CON has called on the church to continue to pray and harp more on biblical values to give Nigerian youths a proper mindset.

“Nigeria needs a lot of prayers at this time, especially for the youth. It is very good for us to begin to train the youth and give them a proper mindset,” Senator Tinubu said when he received the leadership of the African Biblical Leadership Initiative led by former Head of State, General Yakubu Gowon in her office at the State House Abuja.

Tinubu told members of the delegation who were in her office to sensitise her on the forthcoming 2024 International Conference of ABLI scheduled for Nigeria in October, the Christian community in Africa and Nigeria in particular to go beyond religious sentiments and tolerate one another.

Senator Oluremi Tinubu noted that the church must harp more on biblical values, especially for the youth: “The teachings in our churches should be biblical value-based so that we can get a better nation.”

She added that the leadership of the ABLI should continue with their various programs as a way of enhancing the spirituality of not only Nigerian Leaders but Africa in general.

“African nations have a lot in common and we should come together to address some of the issues affecting us,” she said.

Earlier in his remarks, Former Head of State and Leader of the ABLI delegation, General Yakubu Gowon, GCFR said the organization seeks to bring about qualitative transformation of African nations through leadership with biblical values.

He noted that the ABLI is a non-partisan organization which is particular about raising a new generation of highly principled leaders with value for Justice, Value for Integrity, value for wisdom and value for social harmony.

The International Conference of the African Biblical Leadership Initiative was instituted in 2010 and has its conference every 2 years with the venue rotated among various African countries. The last one was held in Rwanda.

Nigeria is hosting the next edition with the theme, Value Based Leadership For Africa on the 21st to 25th of October 2024.

The Economic and Financial Crimes Commission (EFCC) is set to arraign former Governor of Anambra State, Willie Obiano, on nine counts of alleged N4 billion fraud.

Obiano was alleged to have perpetrated this act during his tenure as governor of the South-East state from March 2014 to March 2022.

The 68-year-old has been arraigned before Justice Inyang Ekwo of the Federal High Court Abuja.

The immediate-past governor of Anambra State has arrived at the Abuja division of the Federal High Court.

He arrived in the company of some officials of the EFCC.

The trial judge has yet to arrive as of the time of filling this report.

More details later…

The details of the meeting between President Bola Ahmed Tinubu and a delegation from Chevron Corporation have emerged.

President Tinubu, on Tuesday, met with the delegation led by President of Chevron International Exploration and Production, Clay Neff, at the State House in Abuja.

In a statement released by his spokesman, Ajuri Ngelale, after the meeting, President Tinubu said his administration will continue to provide the needed interventions in the oil and gas industry in line with the provisions of the Petroleum Industry Act.

President Tinubu said Nigeria would strengthen its long-standing partnership with the multinational company in line with the evolving dynamics in the oil and gas industry.

“’You must see the PIA as a legacy law. We assure you of quick interventions and turnaround on any issue you may have in your operations in our country,” he said.

Tinubu also welcomed Chevron’s commitment to build on its investments in shallow and deep-water operations in Nigeria, noting the company’s ongoing $1.4bn drilling project with the Nigerian National Petroleum Company Limited.

The President also commended Chevron for its dedication to reducing its carbon footprint in the country.

He said: “Nigeria is proud of the 60-year partnership with Chevron, and we believe this partnership will be strengthened to add mutually beneficial value for the benefit of your shareholders as well as the living standards and economic opportunities of our population.”

In his remarks, Neff pledged that the company would continue to operate in full adherence to the highest standards, even as it meets its investment commitments in Nigeria.

He highlighted the company’s contributions to domestic gas supply, noting the delivery of 25 per cent gas through a joint venture with NNPC Limited.

Neff also said Chevron was scaling up its investments in the country with its recent efforts in a new phase of development to include the conversion, under the Petroleum Industry Act, of all the NNPCL/Chevron Nigeria Limited Joint Venture Oil Mining Leases and Agbami OML 127 to Petroleum Mining Leases and Petroleum Prospecting Licences and entry into OPL 215 block to boost deep-water development opportunities.

He also said the company have signed the 20-year renewal of three deepwater leases; commencement seismic data acquisition in several deepwater leases; commencement of life extension work on the Agbami project, and, in partnership with NNPCL, secured $1.4bn financing to fund the NNPCL/CNL JV infill drilling programme between 2022 to 2026, which includes the drilling of 37 wells in the shallow offshore and onshore Escravos area and associated facilities.

Neff further informed President Tinubu that Chevron’s average annual tax and royalty remittances over the past three years had reached $3.4bn.

He said, “The bold steps you have taken since you assumed office are quite impressive. We are encouraged by our partnership of over 60 years, and we look forward, God willing, to continue that partnership for many decades to come.

”We are also looking at other opportunities as well while operating with the best environmental practices.

“We will continue to grow our traditional oil and gas business because we know the countries where we operate are in need of those products, and the world needs those products.”

Victims of the Kaduna bombing have disclosed that they are yet to receive the money the 109 senators in the National Assembly promised to donate to them.

Recall that the senators had promised to donate their December 2023 salaries to the victims of the December 3 accidental bombing of Kaduna villagers by the Nigerian Army.

The Deputy Senate President, Barau Jibrin, during a condolence visit to Kaduna in December, pledged that the 109 senators would donate their December salary of N1m, amounting to N109m to the victims

However, checks by the Punch show that the senators have failed to keep their promise.

The spokesman for the Senate, Yemi Adaramodu, confirmed that the lawmakers had yet to fulfil the pledge but said the delay was merely procedural.

“Any noticeable delay in the delivery of the Senate’s pledge to the victims of the unfortunate Kaduna State incident is merely procedural.

“We pledged December monthly salaries and these would come in January. We are still in January. Whatever commitment the Senate made to the Nigerian people shall be religiously fulfilled,” Adaramodu said.

A government official, conversant with the process, who spoke with the publication on the condition of anonymity, said about N140m had been gathered, but the disbursement to the victims was being delayed as many of those who made pledges had yet to redeem them nearly two months after the tragic incident.

Speaking with the aforementioned publication, Idris Dahiru, who lost 30 members of his family to the incident, said the victims are yet to receive anything from those who pledged donations.

He said, “We are eager to see development in our area after the unfortunate incident but not yet.

“We are expectant. We are not happy that some well-meaning Nigerians who promised donations publicly refused to redeem their pledges.

“We were informed that some of those who announced their donations publicly, on realising that they were using the funds to rebuild Tudun Biri, declined to redeem their pledges. Those in that category should come out and let the world know that they decline to redeem their pledges.

“The security situation in Tudun Biri is still a concern. We were told that a military formation would be established but that has not happened. There is still a security threat here in Tudun Biri and the earlier the government acted on the promise (military formation) the better for the community.”

Another victim of the incident, Aliyu Yakubu said that the village had yet to witness any development, except for the “clearance of the road” leading to Tudun Biri.

“Currently, the construction of the central mosque is ongoing here in our village. But since the clearing of the road a few days before Christmas and when men in military uniforms came to survey where they would establish (a military) formation, nothing is happening in Tudun Biri at the moment.”

On the disbursement of funds to victims, Ibrahim said they had yet to receive any funds from the government except relief materials, including foodstuffs.

“We were told that many who made pledges could not redeem their pledges,” he said.

Senator Ali Ndume, the Chief Whip of the Senate, says he is not in support of the relocation of the key departments of the Central Bank of Nigeria, CBN, from the Federal Capital Territory, FCT, to Lagos State.

Speaking on Tuesday during a chat on Channels Television’s programme, Ndume, who represents Borno South, implored Tinubu to rescind the decision.

Recall that an internal memo circulated last week in which the apex bank directed some of its units to move to Lagos in a bid to decongest the Abuja headquarters.

The development had sparked controversy as some Nigerians, particularly Northerners, rejected the move.

The Arewa Consultative Forum said it was part of a long-standing plot to further underdevelop the Northern region.

Speaking on the matter, Ndume wondered why the CBN units are not moved to states close to Abuja, saying there would be political consequences if the apex bank forge ahead with the relocation.

Ndume opined that the decision “was not well thought out,” saying he “is confident that the president is going to reverse it.”

He added: “And if that does not happen, of course, this is democracy; we know what to do.”

He said: “Why was the headquarters moved from Lagos to Abuja? Was it not because of the congestion there? I don’t even see any issues of congestion. There is going to be an increase in cost because they are going to be running from Lagos to Abuja, spending more money and even exposing our workers to unnecessary risks.

“Don’t try to bring tribalism into it. I’m not a Hausa man and I’m not a Fulani man but I’m a Northerner and a Nigerian. Those misleading the president are not doing him any good because this is going to have some political consequences. If Tinubu was not elected president, the CBN governor would not be there. It was not Lagos votes that put Tinubu there.”

Big Brother Naija (BBNaija) reality TV star and media personality, Natacha Anita Akide, popularly known as Tacha, has urged women in relationships not to be faithful to their partners until they are engaged or married.

Speaking in the latest episode of the Spill With Phyna podcast, Tacha stated that there is no oath in a relationship that binds women to be faithful.

According to the self-acclaimed Port Harcourt First Daughter, women in relationships are single until they are married.

Tacha said; “You have to be in a relationship and not be faithful until you probably get a ring or until you’re getting married, where you have to swear an oath.

“Because which oath did you swear in a relationship that you are faithful? You are single until you are married.”

The Debt Management Office (DMO) has announced the first FGN bond auction of 2024.

According to the announcement seen by Nairametrics, the auction is set for January 29, 2024, with the settlement date being January 31, 2024.

Details of the offer

The bond offerings are

• N90 billion of the reopened 10-year 16.2884% FGN MAR 2027 bond
• N90 billion of the reopened 10-year 14.55% FGN APR 2029 bond
• N90 billion of the reopened 10-year 14.70% FGN JUN 2033 bond
• N90 billion of the reopened 15-year 15.45% FGN JUN 2038 bond

The bonds are offered at a unit price of N1,000, with a minimum subscription requirement of N50,001,000 and subsequent increments in multiples of N1,000. Interest payments on FGN bonds are made semi-annually (twice a year).

About FGN Bonds

The FGN bonds meet the criteria outlined in the Trustee Investment Act, allowing trustees to invest in them. Additionally, they qualify as Government securities under the Company Income Tax Act (CITA) and Personal Income Tax Act (PITA), ensuring they are tax-exempt for Pension Funds and other investors.

After the bonds are auctioned in the primary market to the primary dealer market makers, the bonds are then listed on both the Nigerian Exchange Limited and FMDQ OTC Securities Exchange, which are the secondary markets.

What you should know

In 2023, the Federal Government raised about N5.49 trillion through FGN bond auctions which were used to finance the 2023 budget deficit of N11.34 trillion.

With the budget deficit in the 2024 budget put at N9.18 trillion, it is projected that there may be a drop in the amount raised through FGN bond auctions.

Moreover, the anticipated marginal rates for the January bond auctions are expected to align with the government’s stance on monetary policy rates, which will be determined during the initial Monetary Policy Committee (MPC) meeting scheduled for February 26 and 27.

 [Nairametrics]