News
The Chairman, Senate Committee on Petroleum (Downstream), Ifeanyi Ubah, has said that two refineries- Port Harcourt and Warri would be fully operational by the end of 2024.
Ubah said plans have already been put in place to achieve the target, stressing that the Kaduna Refinery would also be operational before the end of next year.
He said that the completion of the plants and the addition of supply from the 650,000 barrels per day, bpd Dangote Refinery would enable the nation to meet its domestic fuel demand.
The senator also called on the federal government and other stakeholders to work toward the establishment of modular refineries to further expand the nation’s domestic capacity to refine crude oil.
“My mandate is to ensure that the refineries in Nigeria are up and functional. By my involvement, before the end of this year, two refineries will be up and running.
“Also, before the end of next year, the Kaduna refinery will come on stream.
“I can assure Nigerians that I will tirelessly pursue and ensure that these refineries are up and running before the end of the year. We have set up a technical team to visit the refineries every two weeks in order to meet the set target,” he said.
In Abuja, a Federal High Court has granted bail to former Minister of Aviation Hadi Sirika, along with his daughter and two others, requiring a ₦100 million bail bond and two sureties.
Sirika and others are being tried over an alleged ₦2.7bn fraud.
The sureties, according to the court, must have landed properties in Abuja and also responsible citizens.
The sureties must depose to an affidavit of means. The court also restricted the defendants from traveling abroad without its permission.
Justice Oriji ordered that the defendants should be remanded in prison custody if they failed to meet their bail conditions.
Recall that the Economic and Financial Crimes Commission has slammed six counts on the former minister, his daughter, and two others.
The Kaduna State Governor, Senator Uba Sani, on Wednesday, lamented the drop in enrolment of pupils into schools across the state.
Sani, who expressed concern over the development, linked it to the spate of insecurity, occasioned by kidnapping, banditry and other related crimes, in the state.
He disclosed that the government had begun a move to relocate 359 schools from terrorist-infested areas and merge them with other schools in safe places.
The governor spoke while declaring open a one-day capacity-building programme organised by the Nigeria Police Force School Protection Squad in Kaduna on Wednesday.
Sani described as apt the theme of the programme: ‘Strengthening Security Resilience and Integration of Host Communities in the Protection of Education.’
“Incidents like the kidnapping of 135 students from the LEA Primary and Junior Secondary School, Kuriga, Chikun Local Government tragically illustrates the devastating impact of insecurity on education access and safety.
“To ensure that the education of our children in conflict-prone and terrorists-infested areas is not interrupted, we have commenced the merging of 359 schools with those in safe locations,” the governor said.
Sani lamented what he described as the alarming drop in school enrolment rate in the state due to insecurity.
Sani said, “Kaduna State is one of the states that has been waging a sustained battle against banditry, terrorism, kidnapping and other forms of criminality.
“These non-state actors have disrupted socio-economic activities in the affected communities and are threatening our educational revitalization programme.
“Kaduna State’s educational system is facing a crisis of declining enrolment, with over 200,000 fewer primary school pupils recorded in the 2022/2023 academic session compared to the previous year.
“This dramatic drop (from 2,111,969 in 2021/2022 to 1,734,704 in 2022/2023) is largely attributed to insecurity.
“In several local government areas, particularly Chikun, Birnin Gwari, Kajuru, Giwa, and Igabi, insecurity has forced school consolidation, further pushing up the number of out-of-school children.”
The governor commended the Inspector General of Police, Olukayode Egbetokun, for establishing the Schools Protection Squad, a proactive initiative aimed at enhancing security and safety in educational institutions across Nigeria.
The Lagos State Government has launched an Electronic Physical Planning Permit System, which enables building approvals to be obtained within just 10 minutes.
Dr. Olajide Babatunde, Special Adviser on e-GIS and Urban Development, LASG, made this announcement during a ministerial press briefing in Ikeja on Wednesday.
This is coming at a time when the Lagos State government is facing a lot of criticism for the way it has been handling the demolition of buildings and shanties across the state.
According to Babatunde, this initiative would ensure a seamless and efficient process for stakeholders.
“The Lagos State Government is poised to revolutionise the planning approval process with the introduction of an Electronic Physical Planning Permit Process System.
“The innovative system will enable building approval to be obtained in just ten minutes, ensuring a seamless and efficient process for stakeholders,” he said.
Backstory
Recall in 2016, the Lagos State Government inaugurated e-GIS project with which Governor Babajide Sanwo-Olu outlined a strategic plan for its implementation in 2021.
Subsequently, the e-GIS Office (LAGIS) was entrusted with overseeing the project, aiming to create a comprehensive digital platform for land administration and geographic information services.
Meanwhile, in Dec. 4, 2023, the bill to establish the Lagos Geographic Information Service (LAGIS) was presented to the Lagos State House of Assembly.
Dr. Olajide Babatunde, the Special Adviser on e-GIS and Urban Development, explained that the e-GIS Office has fully assumed responsibility for supervising and managing the Lagos enterprise GIS upgrade and integrated land administration project.
He said that the processes led to the passage of its bill by the Lagos State House of Assembly.
“To ensure a smooth implementation process, stakeholders and the public will be engaged through a series of retreats and sensitisation programmes.
“This will foster a better understanding of the importance of the bill and the benefits of the Electronic Physical Planning Process System.
“With this innovative system, Lagos State is poised to become a leader in digital governance and efficient urban planning,” he added.
What you should know
In a recent interview on Monday, the Lagos State Commissioner for Physical Planning and Urban Development, Dr Oluyinka Olumide, reported that 80% of buildings around the Ibeju Lekki and Epe corridor do not have government approval.
- Olumide said despite the rigorous procedures involved in securing government approval, property developers and owners are still circumventing due process.
- The government also mentioned that it is mandatory for property owners or developers to obtain the required planning permit before going ahead with their projects or conversion of properties.
- The Lagos State government also emphasized that all structures or buildings that do not have the necessary building permits will be demolished.
[Nairametrics]
The newly-elected Speaker of the Rivers State House of Assembly, Hon. Victor Oko Jumbo has said his election into office is legal and constitutional.
Recall that the lawmaker representing Bonny Constituency was elected at 10 am during plenary on Wednesday in line with the Standing Order of the House.
He was said to have taken the oath of office as the factional Speaker of the Assembly following his election by two lawmakers loyal to Governor Siminalayi Fubara.
Jumbo was led to the plenary with the original mace of the Rivers State House of Assembly by the Sergeant-at-Arms, David Wariboko, who managed the last sitting of the Martin Amaewhule-led Assembly in the same position.
In his acceptance speech, Oko-Jumbo thanked the members for electing him as the new Speaker sequel to the resignation of the former Speaker, Edison Ehie.
He called on the Executive and the Judiciary, as well as the public to disregard every law purportedly enacted by the Amaewhule-led Assembly, describing it as an exercise in futility.
He said: “You will agree with me that after the House last sat on the 13th of December, 2023, and adjourned sine dine, there has been an avalanche of legislative rascality perpetrated by the 25 former members of the 10th Rivers State House of Assembly, led by the former Speaker, Rt. Hon. Martin Chike Amaewhule.
“These former members, being fully aware of the provisions of Section 109(1)(g) of the CFRN 1999, defected from the Peoples Democratic Party (PDP) to the All Progressives Party (APC) on the 11th of December, 2023.
“Consequently, the Rt. Hon. Edison Ogerenye Ehie-led Assembly, on the 13th of December, 2023, wrote to the Independent National Electoral Commission (INEC), declaring the seats of the 25 lawmakers vacant in line with Section 109(1)(g) and (2) of the CFRN 1999.
“My distinguished colleagues, there are a plethora of cases pending in our courts further to the defection of the former lawmakers.
“All laws, plenary sessions and actions taken by the illegal House members are hereby declared void and a nullity in the eyes of the law by virtue of the judgment of Lord Denning in the celebrated case of MacFoy v UAC (1961) 3 All ER 1169.”
Oke-jumbo said the sitting presided by him is the legally and constitutionally recognised House of Assembly by virtue of the defection of the other members.
He, therefore, called on the governor to desist forthwith from further dealings with the 25 former lawmakers loyal to Wike.
He added, “Furthermore, this House would want to most respectfully urge and call on His Excellency, the Governor of Rivers State, Sir Siminalayi Fubara, DSSRS, to desist forthwith from further dealings with the 25 former lawmakers, in whatever guise.
“Those members are merely floating and do not have any landing ground or anywhere to berth their ship since their defection to the All Progressives Congress on the 11th of December, 2023.
“This House is the legally and constitutionally recognised House of Assembly by virtue of the defection of the other members and is ready to receive correspondences from and work with His Excellency, the Governor of Rivers State, Sir Siminalayi Fubara. Distinguished colleagues, let me thank you once again.
“I know I can count on your unalloyed and unwavering support as we work with His Excellency, Sir Siminalayi Fubara in moving our dear Rivers State forward in promoting the progress and welfare of the State.”
[NaijaNews]
The agitation for the creation of additional states in Nigeria has been a long-standing issue, with proponents arguing that it would promote effective governance and development in the country.
The Southwest and Southeast geopolitical zones have been at the forefront of this agitation respectively.
Two bills are currently before the House of Representatives seeking the creation of three additional states in the southwest geopolitical zone.
LEADERSHIP reports that state creation in Nigeria dates back to 1967 when the then head of state, Gen Yakubu Gowon, created 12 states out of the four regions in existence. His successor, Murtala Mohammed, created additional seven states in 1976, which brought the total number to 19.
General Ibrahim Babangida, who was Nigerian head of state between 1985 and 1993, created 11 more states; two in 1987 and nine in 1991, which brought the number of states in the country to 30 till 1996 when another military ruler, the late General Sani Abacha added six states, bringing the number to 36 states that are currently in existence.
Also under the Abacha regime, Nigeria was divided into six geopolitical zones. Out of these, the northwest has seven states, the northeast, north central and south-south comprise six states each while the southeast consists of only five states.
Though history has shown that state creation had been done only by the military government, demands and even recommendations have been made at different times, especially in the last 24 years since the return to democratic rule in 1999 for more states to be created.
For instance, the 2014 National Conference recommended the creation of 18 new states (three per geo-political zone) and one new state for the southeast to make the zone have an equal number of states with the other zones, except the northwest which has seven.
Also, in February this year, the Igbo socio-cultural organisation, Ohanaeze Ndigbo Worldwide, threatened to sue the Nigerian government over its failure to create an additional state in the South-east.
Experts have suggested that a more pragmatic approach to the creation of additional states would be to base it on economic viability and a sense of fairness and balance.
They argue that any new state should be economically viable and able to sustain itself, and that the creation of new states should be based on a clear set of criteria that takes into account factors such as population, geography, and economic potential.
The president-general of the Ohanaeze, Emmanuel Iwuanyanwu, had in a statement said it was improper that the southeast is the only region in Nigeria with five states.
Iwuanyanwu said the situation had cost the region billions in financial losses and losses in government positions, ministerial appointments as well as legislative representation.
“In 2005 and 2014, we raised this issue at various political conferences. All men of goodwill at the conference agreed that it was unfair for the southeast to have only five states and recommended that an additional state be created in the southeast, but up until today, this has not been done,” he said.
With the 10th National Assembly on another constitution amendment process, the House of Representatives has passed through first reading and also slated for second reading a Bill for an Act to Amend the Constitution to Provide for the Creation of Oke-Ogun with Saki as the Proposed Capital City, sponsored by Hon. Kareem Tajudeen Abisodun.
Similarly, the House has received a bill proposing the creation of three states, namely Ijebu, Oke-Ogun (also in the other bill) and Ife Ijesa states in the southwest region, sponsored by Hon. Oluwole Oke.
The proposed legislation is entitled “A Bill for an Act to amend the Constitution of the Federal Republic of Nigeria 1999 (as amended)” with the amendment of the First Schedule, Part I of the Constitution to read:
“The First Schedule, Part I of the Constitution is amended by introducing new states.”
In the draft bill, Ijebu State, when created, will compromise Ijebu East, Ijebu North East, Ijebu Ode, Ikenne, Odogbolu, Ogun Waterside, Remo North and Sagamu local government areas. The proposed capital city for Ijebu State is Ijebu Ode.
Oke-Ogun State with Iseyin as the proposed capital city would consist of 12 local government areas, including Olorunsogo, Irepo, Oorerelope, Ogbomosho North, Ogbomosho South, Saki-East, Saki-West, Atisbo, Itesiwaju, Iwajowa, Kajola and Iseyin.
Also, Ife Ijesa State will be made of 11 LGAs made up of Atakunmosa East, Atakunmosa West, Boluwaduro, Ife Central, Ife East, Ife North, Ife South, Ilesa East, Ilesa West, Oboku and Oriade.
The South-West geo-political zone is currently made up of six states: Ondo, Oyo, Lagos, Ogun, Osun and Ekiti states.
Speaking to LEADERSHIP, the executive director of Yiaga Africa, Samson Itodo, said there is inequity in the way states have been structured, with regions like the southeast having less number of states.
He, however, said more states should not just be about balance but the need for development and economic viability.
“We need to ask ourselves if the 36 states we have in the country are economically viable, and those are the kinds of conversations: how do we make those states more functional? But I think that people who are advocating for more states, especially regions like the southeast; we need to create that balance because it has impact on how the nation allocates its resources; resources are distributed across the states.
“It also has implications for the configuration of political power. So if you look at the National Assembly, the regions that have more states are more likely to have more representatives in the House of Representatives and that tilts the power against other regions, so when decisions are being made, you will have a particular section of people who may be adversely affected by this nature of configuration.
“But also, and I must say that this whole debate around state creation will need to revisit how we create states in our Constitution because this Constitution Review also provides the opportunity.
“Are they economically viable, are they able to generate their own resources? Those are critical discourses, but you need to strike a balance because you also need to ensure that there is inclusion and there is no marginalisation, and a particular region does not feel disproportionately affected,” Itodo noted.
Also, the chairman, the Independent Media and Policy Initiative (IMPI), Niyi Akinsiju, told LEADERSHIP that no states in Nigeria is deficient of economic opportunities, and advocacy for the creation of states should be based on such indices
“Historically, the bases of state creation in Nigeria are not on capacity for self-sustenance but rather on similarities and contiguity of culture and historical origins of the people in a geographical area. So, we have always been limited to that, and to that extent consideration for state or rather advocacy for state creation has not been on economic capacity.
“It is done principally about longing to find ethnic fellowship within the same geographical space for a given people. So for me, that could also be a good reason for state creation because, indeed, people that belong to a given geographical space that share the same ethnic origin, that share the same common culture, nothing stops them from having to belong in a geopolitical system that they can call their own. It gives them a sense of belonging.
CSOs Reject Calls For Creation of News States
Meanwhile, Civil Society Organisations (CSOs) have rejected proposals for the creation of additional states.
According to the CSOs, advocates of more state creation are not motivated by community development, but to create more avenues for looting the public purse.
The CSOs said Nigerian should think on how more funding should be coming from the states to support the centre and not creating additional states to depend on the centre for sustenance.
The CSOs which spoke to LEADERSHIP are Transition Monitoring Group (TMG), Transparency International (TI) and the Civil Society Legislative Advocacy Centre (CISLAC).
Speaking through their leader, Awwal Musa Rafsanjani, the CSOs insisted that some states in Nigeria are not viable: they cannot pay salaries, nor contribute to the centre.
“It’s a very funny call,” Rafsanjani said of the proposals for additional states already in the National Assembly.
“Anyone calling for more states to be created, he should first of all ensure that the present state he is in is viable. Their calls should have been to contribute for their states and local government to be viable. If not, they just want more avenues for looting,” Rafsanjani said.
According to Rafsanjani, the CSOs are not in support of more states to be created because they will still depend on the centre, Abuja.
“We are not in support of state creation now because most of the states are not paying salaries. They have become lazy instead of contributing to the centre.
“We are opposed to it. If the proponents want development, they should contribute to the current state now and not advocate for more states. They only want avenues where they will be siphoning money or get more money from the centre to loot,” Rafsanjani added.
[Leadership]
The Speaker of the House of Representatives, Abbas Tajudeen, yesterday stepped down a motion calling for the suspension of the cybersecurity levy, which has sparked widespread dissatisfaction.
Daily Trust reports that since the Central Bank of Nigeria (CBN) directed all banks in the country to begin the deduction of 0.5% of the value of all electronic transactions from customers, Nigerians across different spectrums have rejected the levy, describing it as an additional burden on them.
During Wednesday’s plenary session, Manu Soro, a lawmaker from Bauchi State, presented the motion, expressing concerns that the levy’s introduction was ill-timed given the prevailing economic condition in Nigeria.
Soro argued that imposing new taxes or increasing existing ones amidst the ongoing economic challenges faced by Nigerians, exacerbated by the removal of fuel subsidy and the depreciation of the naira, would only add to the burden of citizens already grappling with rising living costs and food prices.
Soro called on the House to prompt the Central Bank of Nigeria to retract the circular on the cybersecurity levy and cease its implementation immediately.
He also urged the Minister of Finance to refrain from introducing new taxes or raising existing rates until the economic situation in the country improves significantly.
However, Speaker Abbas advised Soro to temporarily withdraw the motion to allow the House leadership to deliberate on the best course of action in addressing the issue.
TUC threatens shutdown
The Trade Union Congress of Nigeria (TUC) has threatened a shutdown of the economy over the plan to begin implementation of the cybersecurity levy on electronic transactions.
The union urged the federal government to direct the Central Bank of Nigeria (CBN) to withdraw its directive to financial institutions on the issue to avert the shutdown.
TUC’s president, Mr Festus Osifo, gave the warning in a statement on Wednesday.
Osifo criticised the cybersecurity levy as illogical, particularly considering the current challenges faced by Nigerians due to the high cost of living.
He said many government policies are not only exacerbating hardships for ordinary Nigerians but also leading to the closure of businesses due to an unfavourable business environment.
Osifo warned that the implementation of the cybersecurity levy could prompt individuals to hoard cash at home, reduce financial inclusion, increase poverty, and worsen the overall economic situation in the country.
[DailyTrust]
The state governments of Ekiti, Cross River, and Ogun have proposed a suspension of their foreign debt repayments worth $501 million due to foreign exchange volatility.
Details of these proposals were highlighted in the minutes of the Federal Account Allocation Committee meeting held in March 2024.
The proposal is part of their efforts to mitigate the heightened debt service burden, which state officials claimed has significantly hampered their ability to service existing debts.
The states have the highest foreign debt stock as of December 2023 due to multilateral and bilateral loans, data from the Debt Management Office showed.
Cross Rivers has the highest at $211.13 million, followed by Ogun at $168.8 million and Ekiti at $121.1 million.
The states’ commissioners of finance said the continued foreign exchange volatility had caused strain on their ability to repay foreign loans.
The commissioners also raised concerns about reduced FAAC’s allocation due to debt repayment and deductions as savings from the monthly allocation.
Akintunde Oyebode, Commissioner of Finance of Ekiti State, observed that there had been significant increases in the amounts deducted from the Statutory Revenue of the states for repayment of foreign loans due to the rising exchange rate.
He suggested the need for extensive discussion on exchange rates concerning multilateral financing to address the issue.
Furthermore, he raised concerns about the amount deducted as savings from the revenue for the month.
He noted that the balances of the Sub-nationals had reduced tremendously as a result.
On his part, 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.
The Commissioner of Finance of Ogun State, Dapo Okubadejo, called for redirecting the N200 billion previously earmarked savings into the federation account for state redistribution.
“The HCF, Ogun States, on his part, proposed that the N200 billion set aside as savings should be returned to the Federation Account for distribution to the beneficiaries.
“On the issue of multilateral financing, he proposed that a system should be put in place to effectively address issues associated with foreign exchange volatility,” the mitutes disclosed.
[DailyPost]
The Federal Government has said mandatory registration of Point-of-Sales operators nationwide will reduce kidnapping and help security agencies arrest recipients of ransom payments from kidnap victims.
It also vowed that security agencies would go after PoS operators who fail to comply with the directive to register with the Corporate Affairs Commission after July 7, 2024.
The Registrar-General, CAC, Hussaini Magaji, disclosed this at the formal launch of the CAC registration of agents and merchants of fintechs on Wednesday in Abuja.
The event also marked the unveiling of a 24-hour service centre to help prospective applicants get a prompt response to enquiries and approvals.
The government had through the commission on Monday issued a two-month registration deadline for PoS operators to register as corporate bodies with the commission in line with the legal requirements and directives of the Central Bank of Nigeria.
The action backed by Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020 as well as the 2013 CBN guidelines on agent banking aims to safeguard businesses and strengthen the economy.
It also came against the backdrop of frequent fraud incidents involving PoS terminals and plans to stop trading in cryptocurrency or any virtual currency by the Central Bank of Nigeria.
PoS terminals accounted for 26.37 per cent of fraud incidents in 2023, according to a fraud report by the Nigeria Inter-Bank Settlement System Plc.
Last week, the CBN stopped major fintech firms like Kuda, Opay, PalmPay and Moniepoint from onboarding new customers. The fintech firms later warned their customers against trading in cryptocurrency or any virtual currency on their apps, threatening to block any accounts found engaging in such activities.
Speaking at the event, Hussaini reiterated the government’s resolve to fully implement the mandate by providing a fully digitised service centre for easy registration.
He emphasised that the registration process aligns with both legal requirements and the directives of the CBN mandating individual, merchant or business entities to be captured in its database.
He further warned that the 60-day deadline would not be extended while stressing that defaulters would receive adequate punishments after the deadline.
He said, “We have launched a 24-hour service centre to accommodate enquiries from Point of Sales operators and agents who may want to register as directed by the new policy. The secretariat is filled with staff members who have the responsibility of availability, and some are being saddled with the responsibility of approving requests. We have equipped the secretariat with the necessary facilities.
“This is to show you how the government is taking this issue seriously and the centre will be open for a 24-hour service. It will be open for compliance and any feedback from the public especially PoS operators who have been mandated to register their businesses with the commission.”
He added, “We have trained our staff to accommodate these activities and these staff can work from home and that’s why we said 24-hour service. We have equipped them with facilities and they can work from home for approvals and availability segment. The deadline remains 60 days and it will end July 7th.”
The CAC boss further stated that the timeline was not intended to target specific groups or individuals but genuinely aimed at safeguarding businesses.
The CAC boss explained, “Of course, the mandatory registration will reduce crime and fraudulent practices, the commission is hosting data and if any crime is committed anywhere, the security agencies would have to reach us to know the people behind the company and the fraudsters. But if they are not registered, we can’t do anything and that’s the essence of the registration.
“We have had a situation where a ransom is being paid with a PoS terminal and a lot of fraud but after the registration, if anything happens we can provide the details of the persons behind the company to the government. We will capture the picture and other relevant information and this is a good development for the country.”
He stressed that “after the deadline, we would go after defaulters, If you have been identified as a criminal, security agents will go after you, we will go after them because some are being chased by the security agencies already.”
He elaborated on the benefits of registration, emphasising that it goes beyond taxation to encompass access to loans, legality, and compliance with regulatory requirements.
“The law has stated that for any person to carry out business activity in the country, your business must be legitimate and for your business to be legitimate you must register, either you are doing your business as an individual or as an agent, you must register with us.
“The POS terminal holders are doing business, and we are now enforcing part of the provision of the Company and Allied Matters Act. We have been on this issue since December and extending it to July means they have six months. We have provided a timeline in the interest of their business.
Meanwhile, PoS agents have reacted to the order asking them to register with the CAC.
While some agents agreed with the CBN, many said it would place more burden on the operators, especially those in rural communities.
The National President of the Association of Mobile Money and Bank Agents in Nigeria, Sarafa Fasasi, in a reaction on his handles, said the directive was confusing.
“The memo got me confused because the current CBN agent banking regulations allow individuals to be onboarded as agents under the sub-agent category. Currently, Nigeria has over 1.9 million agents of which over 70 per cent are sub-agents without registered businesses, operating under an agent network – super agent arrangements. They are the most penetrating channel of financial inclusion. Now, we want to eliminate them with CAC registration?” he queried.
Fasasi noted that the nation should be able to achieve payment security without reversing the 74 per cent financial inclusion rate.
He posited, “On the suspension of top service providers, majorly non-banks like Opay, Palmpay, Moniepoint, Kuda bank and others from account creation due to alleged foreign exchange and crypto transactions; it would be recalled that before Binance controversies, FX/crypto transactions, at one point or the other, terminated in several accounts or wallets, across all service providers, bank and non-banks. So, all service providers may be guilty and should be suspended to be fair.
“I cannot imagine suspending all commercial banks from opening new bank accounts because of pre-regulation transactions.”
In a similar vein, a Point-of-Sale agent, Ogunfowokan Temitope, located in the Ilasa area of Surulere, Lagos State, said the move was unfair against the agents.
She said, “It is not fair because most of the PoS agents only have a small amount of money. Some even borrowed money to start a business. These set of people, how are they going to cope, and do you know how much it costs to register a business now?”
However, the immediate past president of the association, Victor Olojo, backed the move by the CBN, stating that it was the measure needed for standardisation and enhanced security.
He said, “Because it is a financial matter, the CBN needs to ensure the financial system is well galvanised. Today we see people hawking and handling PoS terminals, who should not even have any business handling.
“Also, this move would weed them off, and enable those with capacity to focus on the business, hence Nigeria being better served.”
He noted that it is a plus for the CAC, adding that millions of unregistered PoS agents are adequately regularised.
“We would begin to have a unique business identity or identifier generated for a specific PoS agent. This means that all PoS accounts opened would now have the proper Know-Your-Customer tier 3 standard where you have all the needed verifications plugged into your account.
“That way, if there are any issues, the PoS agent can be easily traced and arrested, therefore curbing fraudulent practices by agents,” he added.
Corroborating Olojo’s position, a PoS agent located in the Berger area of Lagos State, Sunday Samuel, said the move was laudable as it aimed to standardise the businesses of agents.
He said, “The move is going to help the agents to make their businesses more standardised, however, it is not everybody that would understand it from this perspective.
“There are agents in the rural areas that are not aware of what the Corporate Affairs Commission is all about nor the importance. So, they might find it difficult, and it takes a lot of stress going through the registration procedure. However, looking at it in a normal way, having one’s business registered is a good move”.
Meanwhile, another agent located in the Mowe-Ibafo area of Ogun State, Taiwo Shobowale, argued that the new directive would affect the operators because most of them are not oriented on what it means to be registered with the CAC, adding that these agents take it as a daily source of income.
“Most agents do not see this business as an entity, however, rendering financial services can be very sensitive, as the government wants to be involved. The market is already saturated and fraudulent transactions are rarely traced due to the inadequate KYC rule and a lack of proper documentation.
“In addition, the notice is sudden, and the time frame given is short because it is a project that should last for the rest of the year. The rush would lead to a slowdown in the commission’s system, hence resulting in delays,” Shobowale added.
According to the Nigeria Inter-Bank Settlement System, there are over 1.9 million PoS terminals deployed by merchants and individuals nationwide.
The Aare Ona Kakanfo of Yoruba land, Iba Gani Adams, has indicated that he was quoted out of context and that he did not accuse the Chief of Staff to the Lagos State Government, Mr Tayo Ayinde of financing Sunday Igboho’s agitation for Yoruba nation.
Adams who made this known in a recent interview added that all that he said about Ayinde in a voice note that went viral recently were mere hearsay and not verified. He said it was part of a private discussion with one of his contacts in the United States and was not meant for public consumption.
The Aare Ona Kakanfo said: “The voice note issue was shocking. It was a conversation with one of my friend’s brothers in the United States. He asked me how to resolve the issue with Sunday Igboho and how I would reconcile with him. I also mentioned a former Chief Security Officer (CSO), whom I call Sadam, Rasak Arogundade. We talked for about an hour and a half, and I mentioned the CSO.
“I said that someone told me, though it wasn’t confirmed, that Tayo Ayinde was financing Sunday Igboho’s activities through Asiwaju Bola Ahmed Tinubu. I was clear that it was unverified, but I relayed it during our private conversation. I mentioned this in confidence, emphasizing that it might not be true.
“However, the voice note was edited; cutting out the part where I clarified that the information wasn’t confirmed, leading to misunderstandings. This selective editing created confusion and spread misinformation. A conversation that lasted one and a half hours was cut down to 17 minutes, distorting our two-hour discussion. They took a portion of my statement, brought the audio out and published it.
“I saw it on their page, and then they started sending me messages, claiming that I defamed them. I believe the case is in court because I saw it on the pages of the newspaper; though I haven’t been served yet. I suppose we will meet in court. The most unfortunate aspect is that Tayo Ayinde, who has never publicly attacked me, has become entangled in this mess.”
Iba Gani Adams added: “Tayo Ayinde is a quiet person who doesn’t talk much. Yet, the other side has bullied me more than anyone else in the world, either by proxy or directly. They’ve called me every name in the book. Some of their bloggers recently claimed that I have a spirit that drinks blood in my house. There has been a lot of nonsense said about me. But, as a public figure, I can’t challenge everything said about me in court.”
“The most unfortunate aspect is the issue with Tayo Ayinde, which I mentioned as something someone told me, but was not confirmed. It became public. I was merely conversing with my friend on WhatsApp; I don’t know how the voice note got out.”
[TheNation]
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The Labour Party, LP, Peoples Democratic Party, PDP caucus in the House of Representatives, and the Pan-Yoruba socio-political organisation, Afenifere, have joined the criticisms against Lagos-Calabar Coastal Highway as Works Minister, Engr. David Umahi, took on former Vice President, Alhaji Atiku Abubakar, over his opposition to the project.
While the LP urged President Bola Tinubu and the ruling All Progressives Congress, APC, to make full disclosures on why they are carrying out the project, Afenifere said it should be halted and reviewed for due process to be followed.
A member of the PDP Caucus of the House of Representatives, and Chairman, House Committee on Public Accounts, Rep Bamidele Salam (PDP, Osun), on his part, said due process must be followed in the execution of the project.
Atiku had among others alleged that the fact that President Tinubu’s son, Seyi, and his surrogates are on the board of companies owned by Gilbert Chagoury clearly constitutes a conflict of interest.
Atiku promoting politically motivated false analogies – Umahi
Umahi said Atiku’s criticisms of the project are not only hypocritical but also motivated by ambition and cheap political calculations.
Umahi, who spoke through his Special Adviser (Media), Mr. Orji Uchenna Orji, in Abuja, yesterday, accused Atiku of promoting false analogies to discredit the procurement process which led to the award of Section 1 of the Lagos-Calabar Coastal Highway project.
Orji said: “I wish to categorically state that such viewpoints are false analogies, conceived by the fertile imaginations of the former Vice President and which are superficial, hypocritical, diversionary, and undoubtedly motivated by ambitious political calculations.”
According to him, the former Vice President‘s criticism of the project award, cost and the firm chosen to execute the contract were based on ignorance.
Specifically, Orji spoke to claims by Atiku that the contract was awarded to Hitech Construction Company Nigeria Limited because of the personal relationship between President Bola Tinubu and the Chairman of Hitech, Chagoury, and that the demolition exercise was done in a hurry and thus was a threat to foreign investment.
He said: “These accusations or rather viewpoints are, to say the least, intrinsically superficial, baseless, self-serving and politically motivated to imprint malice in the minds of unsuspecting members of the public, especially the gullible.
According to him, the Minister of Works had “in different media fora decapitated the insinuations of the former Vice President and other desperate persons when he gave insights into the award process, the unit cost comparisons, the project review dimensions, the demolition notices and compensation plans as well as those affected by the demolition.
“For the avoidance of doubt, the Lagos-Calabar Coastal Highway project complied 100 per cent with the provisions of the Procurement Act and was awarded based on the EPC+F procurement process, that is to say, the project is an unsolicited bid done on EPC+F.
“Under this model of procurement, the investor provides all the designs, part of the financing and construction, while the FGN pays counterpart funds.
“The bid of the Lagos-Calabar Coastal Highway project came through this process. The Ministry received the bid, worked on it, and sent the same to the Bureau of Public Procurement, BPP.
“The BPP worked on it by the stipulations of the Procurement Act and came up with a competitive price slightly lower than the Ministry’s price and even lower than the cost of similar projects awarded five years ago, including the Bodo-Bonny project awarded to Julius Berger Nigeria Plc.”
LP asks Tinubu, APC to come clean
Reacting, the Labour Party, asked the President Tinubu-led All Progressives Congress, APC, administration to come clean on allegations of impropriety over the award and execution of the Lagos-Calabar Coastal Highway.
National Publicity Secretary of the party, Obiora Ifoh, said this in a telephone chat with Vanguard, yesterday.
He noted that with the controversy trailing the award of the contract at a time when the economy was struggling, the administration owes citizens some explanations, adding at a time like this silence is not golden neither is a resort to name-calling and propaganda to distract citizens.
He said: “It behoves the government to tell Nigerians the truth about this project. Nigerians need to know whether indeed the contract was awarded without regard to our extant laws and due processes.
“The administration needs to tell us whether indeed it was awarded to a business partner of the president because his doing so would be a breach of his oath of office.
“These explanations are equally required to clear the air because there was nowhere in the 2024 Appropriation Act passed by the National Assembly and assented to by the same president where the money for this project was laid bare, except if the budget being operated by the Tinubu-led APC administration is different from the one in the public domain.”
We’ll ensure adequate funding – NASS
On March 29, the National Assembly assured the Ministry of Works of adequate budgetary provision for the completion of the Lagos-Calabar Coastal Highway and the first phase, which has a contract sum of N1.067 trillion
The Chairman, joint National Assembly Committee on Works, Senator Barinada Mpigi, gave the assurance when he led members of the Joint National Assembly Committee on Works on an oversight visit to some selected federal highway projects in Lagos.
The Coastal Highway is proposed to traverse about nine states along the coastal shoreline of the country.
Mpigi expressed the National Assembly’s support for the speedy completion of the work and commended the level of work done so far.
“The coastal road is real and I can testify that the ministry is doing the right thing. And within the expectant period, it is achievable,” he said.
On his part, the Chairman House Committee on Works, Akin Alabi, said the House of Representatives would work with the Senate President, Speaker of the House of Representatives and the the two committees on appropriation for adequate funding of the project.
Alabi said: “We are going to work with both the Senate President, the Speaker and the committees on appropriation to make sure funding is not what will delay the project.
“We have seen it over and over again in this country, where you have great intention when you want to begin a project, but along the line, you will run into trouble.
“But this is a project everyone is committed, both the Executive and the Legislature and it must be delivered. We must make sure that every fund released is accounted for. This is the kind of project, a legacy project that will put a smile on people’s faces and we are all committed to achieving it,” he added.
PDP alleges lies around project
On its part, the Peoples Democratic Party, PDP, yesterday, condemned what it called the cacophony of lies packaged by the All Progressives Congress, APC, to market the Lagos-Calabar Highway project.
Deputy National Chairman of the party, Ibrahim Abdullahi, in a chat with Vanguard said: “PDP condemns the cacophony of lies(from the pit of hell)desperately told by the inept and clueless APC-led Federal Government on virtually everything, with particular emphasis on the Lagos-Calabar coastal highway.
“PDP views the project with suspicion on account of its design, high cost, desperate attention, and non-inclusion in the 2024 fiscal allocation.”
Project must follow due diligence, due process—PDP Reps Caucus
When contacted, the Chairman Public Accounts Committee, Bamidele Salam, (PDP, Osun) said: “I think that is a very good project but it must conform to all laws on public procurement, public finance and appropriation. The Federal Government must ensure that it confirms all laws of the Public Procurement and Finance Act by the National Assembly. If a good project does not conform to those standards, then it loses its value.
‘’I am in support of the project but I advise the Federal Government to ensure that there is due diligence, due process and compliance with all laws and regulations of public procurement.’’
Afenifere wants project halted
Meanwhile, the pan-Yoruba socio-political organisation, Afenifere, has advised the Federal Government to halt and review the project after several calls by some Nigerians to re-examine the socio-economic and environmental impact of the road.
In a statement by its Publicity Department, Prince Justice Faloye, the Afenifere said it is sad that “despite numerous complaints and objections, the federal government has refused to listen and review the 700 km Lagos-Calabar Coastal highway, but instead is rushing headlong into the project. The $13 billion Lagos-Calar project is not only environmentally and economically destructive, but also irrationally replaces the 1,400km $12 billion Lagos-Calabar railway project along East-West Road, adjudged to be the single most important economically empowering infrastructural development project in Southern Nigeria in over 100 years, commissioned by both the Jonathan (2014) and Buhari (2021) governments.
“The Lagos-Calabar Coastal Highway project must be re-examined, for not only breaching competitive tendering stipulations but for also contravening the Environmental Impact Assessment Act, as stipulated in EIA Decree No. 86 of 1992, which places the project type in Category 1 and affecting the natural environment, making an ESIA report mandatory before commencement.”
Afenifere continued: “The 2021 Environmental Assessment Procedures and Charges would have taken six months from May 29 when this administration came to power to secure a genuine approval report, involving a series of stakeholders’ meetings, multiple visits and studies of the environment to be impacted by the highway. The project, in essence, will affect the natural fauna, the coastal mangrove swamps that serve as natural barriers against tidal waves.”
Afenifere asked if the contract awarded in September 2023 had an Environmental and Social Impact Assessment and a separate RAP (Resettlement Action Plan) done, as stipulated by law, to know the effects on existing businesses and the beaches of the area.”
‘It’ll affect resources for capital projects’ — Oshiomhole cautions senators on creating more institutions
AdminAdams Oshiomhole, the senator representing Edo north, says the creation of new institutions can affect the federal government’s resources available for capital projects.
Oshiomhole spoke on Tuesday when he contributed to a debate on a bill seeking to establish the National Institute for Educational Planning and Administration.
The bill is sponsored by Suleiman Sadiq, the senator representing Kwara north.
The former governor of Edo said by creating new institutions, the recurrent expenditures of the federal government would keep increasing.
The senator said the reason for the bill could be taken care of by a relevant department in the federal ministry of education or its agencies.
“I think we have time to be careful in creating more and more institutions because the federal government’s recurrent expenditure is so huge that very little is available for capital projects,” he said.
“We are witnesses to the much-talked-about Orosanye report. The federal government is trying to shrink and merge institutions.
“I am not able to understand why the ministry of education cannot create a department to deal with all of those issues that this bill seeks to achieve.
“Senator Sadiq is my very good friend and brother. I hope he will understand that this is not about him. I accept the spirit of the motion, but it can be taken care of within a relevant department created if it doesn’t exist.
“There are so many institutions that have to do with education, so many of them.
“The universities are in dire need of fresh investments in their infrastructure. I think these are things that should engage our attention. How do we make our universities better equipped?”
However, the bill scaled the second reading when it was put to a voice vote by Senate President Godswill Akpabio.`
[TheCable]
The Federal High Court sitting in Abuja has restrained Peoples Democratic Party, PDP, from appointing or nominating any person to replace Umar Damagum as its acting national chairman, pending the determination of a suit brought before it by two chieftains of the party.
The court in a ruling delivered by Justice Peter Lifu, made the order on the strength of “an affidavit of extreme urgency” that was filed by the plaintiffs.
The suit, marked: FHC/ABJ/CS/579/2024, was brought before the court by Senator Umar Maina and Alhaji Zanna Gaddama.
Cited as 1st to 5th defendants in the matter, are the PDP, its National Working Committee, NWC, National Executive Committee, NEC, Board of Trustees, BOT, as well as the Independent National Electoral Commission, INEC.
Aside from the Originating Summons, the plaintiffs, in a motion ex-parte filed before the court, sought an interim order to retain Damagum in his position as the acting national chairman of the party until their substantive suit is heard and determined.
After he had listened to the plaintiffs’ team of lawyers led by Mr. M. O. Onyilokwu, Justice Lifu, granted the prayers.
Specifically, the court held that: “The Defendants/Respondents are hereby restrained in the interim, from appointing, selecting, nominating any person to replace Amb. Umar llliya Damagum as National Chairman or Acting National Chairman of the the 1st Defendant/Respondent, pending the hearing and determination of the Motion on Notice already filed which is herein fixed against the 14th of May, 2024.”
The Federal Government is set to commence a fresh audit of the N2.8tn fuel subsidy claim by the Nigerian National Petroleum Company Limited.
An audit firm, KPMG had conducted an initial audit reducing the claims from N6tn to N2.7tn.
The Federal Government is also considering either engaging an external audit firm or directing the Office of the Auditor General of the Federation to verify the claims made by the corporation regarding the amount the government owes the oil firm.
The latest plan was revealed in the minutes of the Federal Account Allocation Committee meeting held in March 2024, a copy of which was obtained by our correspondent.
On May 30, 2023, a few hours after the “subsidy is gone” declaration by President Bola Tinubu, the NNPCL Group Chief Executive Officer, Mele Kyari, told State House correspondents that the federal government still owes the firm the sum of N2.8tn spent on petrol subsidy.
While saying the NNPCL footed petrol subsidy bills from its cash flow, Kyari said the government had so far been unable to pay back the N2.8tn.
He said “Since the provision of the N6tn in 2022, and N3.7tn in 2023, we have not have not received any payment whatsoever from the Federation.
“That means they (the Federal Government) are unable to pay and we’ve continued to support this subsidy from the cash flow of the NNPC. We are waiting for them to settle up to N2.8tn of NNPC’s cash flow from the subsidy regime and we can’t continue to build this.”
But giving an update on the issue during the FAAC meeting, the Minister of Finance and Chairman of the committee, Wale Edun, said Tinubu was committed to ensuring that the forensic audit of NNPC Limited was conducted and the results analysed.
NNPC’s claim
He stated that the audit would span from 2015 to 2021, aiming to verify the authenticity of NNPC/Federation Account claims on the N2.7tn.
Edun further proposed that the OAuGF be considered for the fresh audit over any other external audit, considering their expertise in auditing.
The minutes read in part, “The Chairman informed the members of Mr President’s commitment to ensuring that the forensic audit of NNPC Limited was conducted. He, however, proposed that since the Office of the Auditor-General for the Federation had expertise in the areas of auditing, the Office would be considered first before any other external audit firm. He added that where external support would be required, an independent firm could be engaged, accordingly.”
However, the suggestion was dismissed by the Ogun State Commissioner for Finance, Dapo Okubadejo, who argued that engaging an independent auditor would mitigate potential conflicts of interest during the exercise.
Other commissioners, such as Isaac Kamalu of Rivers State and Lawal A. Maikano of Niger State, contributed additional perspectives to the discussion.
Ultimately, consensus was reached to prioritise the OAuGF, with the proviso to engage an external audit firm when deemed necessary for additional support.
The minute later read in part, “The HCF, Ogun State observed that given the diverse nature and objectives of the proposed audit exercise and to prevent conflict of interest, it would be better to engage an independent auditor to conduct the exercise so that other tiers of government will benefit from that level of independence. The HCF, Niger State supported the position and stressed the need to ensure inclusiveness and objectivity in conducting the exercise. On his part, the HCF, Rivers State observed that the engagement of an independent auditor would not necessarily guarantee the success of the exercise. He, therefore, suggested the need to combine both OAuGF and external firms to ensure the success of the exercise.
Federation account
“Contributing, the Federal Commissioner, Revenue Mobilization, Allocation and Fiscal Commission/Chairman, Indices and Disbursement observed that the proposed audit was in respect of some outstanding claims which include the N6tn against NNPC Limited that was subsequently reduced to N2.7tn after initial reconciliation. He informed members that KPMG which carried out the earlier audit exercise of NNPC had looked at some of the claims and recommended further audit to resolve them.
“Concluding, the meeting agreed that OAuGF would be considered first and an external audit firm would be engaged when necessary to provide additional support.”
Efforts to reach the Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, for comments, proved abortive as of press time on Wednesday. He neither picked up calls made to his telephone line nor replied his WhatsApp messages.
Meanwhile, the Commissioner of Finance, Delta State, Okenmor Tilije, at the meeting, raised concerns over the alleged utilisation of multiple exchange rates by agencies of the Federal Government in the conversion of revenue inflow.
According to him, the practice affects the revenue remitted into the Federation Account.
The commissioner claimed that NNPC Limited applied three different rates to convert the revenue earnings from oil, saying this cumulated in an exchange rate differential of about N2.83tn between August 2023 and February 2024.
He highlighted the different rates including the CBN Mandated Exchange Rate of N1,185, the rate of N853 applied to Domestic Oil Payables, and the Weighted Average Rate of N714.50 on NNPC Limited Royalty and Taxes.
The minute read, “The HCF, Delta State raised concerns over the multiple exchange rate being applied by the agencies to convert the revenue inflow due to the Federation. He pointed out that NNPC Limited applied three different rates to convert the revenue earnings from oil. He observed that the sum of N2.83tn was the Exchange Rate Differentials from August 2023 to February 2024 and stressed the need to put in place a single exchange rate that would be applicable across the board.