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President Bola Tinubu has thanked Mr. Jim Obazee, for his services as the Special Investigator of the Central Bank of Nigeria (CBN) and other related entities, declaring that the investigation has officially come to a close.
Presidential spokesman, Ajuri Ngelale, in a statement quoted the President as commending Mr. Obazee for the dedication and professionalism he exercised in handling the “complexities of this critical national assignment.”
Ngelale said, “Subsequent to the conclusion of the assignment and the submission of a final comprehensive report, and with the winding up of all apparatuses used during the scope of the task which terminated on March 31, 2024, the investigation is formally closed, with all appropriate law enforcement and regulatory agencies already conducting follow-up action.
“The President thanks Mr. Obazee for answering the call of duty while wishing him success in his future endeavours.”
Recall that President Tinubu in July appointed Obazee, former Chief Executive Officer of the Financial Reporting Council of Nigeria (FRC), to investigate the activities of the apex bank under Emefiele.
Following the findings of Obazee and his team, the former CBN Governor is already facing charges in court.
The report presented to the President against the former CBN Boss highlighted unauthorised funding of offshore bank accounts, fraudulent cash withdrawals from the CBN vault, gross financial misconduct involving the former governor and his Deputy Governors, substantial fixed deposit holdings amounting to £543.4 million, among others.
The report also highlighted manipulations in the Naira exchange rate, irregularities in the e-Naira project, unauthorised printing of new currency denominations, and substantial expenditures on legal fees.
[STATE HOUSE PRESS RELEASE] Mining And Education in Focus as President Tinubu Receives Letters of Credence from Newly-Appointed Ambassadors
AdminPresident Bola Tinubu, on Friday, welcomed newly-appointed ambassadors to Nigeria, expressing his commitment to enhancing cooperation in the areas of education, mining, culture, and tourism.
The President received Letters of Credence from the High Commissioner of Jamaica, Lincoln Downer; High Commissioner of Australia, Leilani Bin-Juda; and Ambassador of Romania, Florin Talapan at the State House, Abuja.
During separate meetings, President Tinubu assured them of Nigeria's support for a rewarding stay and reaffirmed his government's commitment to maintaining an open-door policy toward strengthening existing economic, cultural, and diplomatic relations.
Speaking when he received the High Commissioner of Jamaica, President Tinubu emphasized the importance of collaboration on trade, investment, and the Technical Aids Corps.
He reiterated Nigeria's readiness to reactivate energy cooperation with Jamaica, particularly in the context of climate change and the utilization of gas as a transition fuel.
''The essence of a relationship is to understand one another. With Nigeria's energetic and talented youth, we have a cultural affinity with Jamaica and a lot of potential for cooperation in the areas of culture and tourism that will benefit the youth populations of both countries," the President said.
The Jamaican High Commissioner conveyed his Prime Minister’s willingness for cooperation between Nigeria and Jamaica in various fields, such as energy, trade and investment, culture, and tourism.
He announced plans for a Jamaican business delegation to visit Nigeria later this year and invited Nigerian investors to explore opportunities in Jamaica’s special economic zones.
During the meeting with the High Commissioner of Australia to Nigeria, President Tinubu expressed appreciation for the longstanding relationship between Nigeria and Australia.
He acknowledged the shared values and interests between Nigeria and Australia as active members of the United Nations, the Commonwealth, and other multilateral institutions.
Acutely aware of Australia's world-leading position in iron ore export, the President emphasized the importance of strengthening cooperation in mining, following recent initiatives by the Minister of Solid Minerals Development, Dr. Dele Alake, to deepen ties between the two nations concerning developments in the sector.
"The Minister of Solid Minerals was in Australia recently, and we look forward to further collaboration in this area. We are also ready to deepen our mutual cooperation in the area of education," President Tinubu stated.
The Australian High Commissioner expressed enthusiasm for further collaboration during her tenure in Nigeria.
"I am the first Australian indigenous person to be appointed High Commissioner to Nigeria. I have been here for five months, and I love Nigeria. I love the people. I am sure my tenure here will be extremely fruitful for both sides," the High Commissioner told the President.
The Australian High Commissioner extended an invitation to President Tinubu to consider visiting Australia during the Commonwealth Heads of Government Meeting (CHOGM) in Samoa.
During the meeting with the Romanian Ambassador, President Tinubu assured the ambassador that Nigeria will explore more opportunities for collaboration with the EU-member country.
The Romanian Ambassador expressed his commitment to strengthening ties between Nigeria and Romania, particularly in the education, energy, and defence sectors.
He announced plans to increase scholarships for prospective Nigerian students interested in studying in Romania.
"Nigeria is a second home to me, and I have lived here for many years. I have to give back every good thing I have received from Nigeria. My country is looking towards a strategic alliance with Nigeria in the areas of education, energy, and defence," Ambassador Talapan told President Tinubu.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
[STATE HOUSE PRESS RELEASE] President Tinubu To Corporate Nigeria: Hand in Hand with You, I Cannot Underperform on A Job I Campaigned For
AdminPresident Bola Tinubu says Nigeria's economy is at a turning point and will require the steadfast support of the private sector for sustained growth and prosperity.
Speaking during Iftar on Thursday in Abuja with members of the Nigerian business community, the President expressed gratitude for their support and pledged to engage with them more frequently.
''I would have summoned you before now, not during Ramadan, because you are a very valuable part of my constituency.
''There is no driver of the economy that is bigger than the private sector. If the private sector is not flourishing, there is no growth, no prosperity, no employment or development. No matter how flowery the speeches are, not even a mushroom will grow.
''Thank you for persevering. We are at a turning point in our economy. I do not have to do a quadratic equation to illustrate all of that to you. I just want to appreciate you for your endurance and perseverance,’’ the President said.
Sharing insights from his visit to the New York Stock Exchange in 2023, President Tinubu noted Nigeria's self-belief and determination to drive economic transformation from within.
''At the New York Stock Exchange, I appealed to foreign investors to consider Nigeria as a prime investment destination.
"At the end of my remarks, I told them we only want them to show their face and diversify Nigeria’s economy not as if we cannot do it ourselves.
"Tony Elumelu walked up to me and thanked me for making that statement. We can do it. Nigeria is a self-believer and can always deliver on its own. We know our first name and our last name. Our first name is: Spirit, and our last name is: Can do."
President Tinubu reiterated his commitment to fulfilling his mandate, emphasizing that he cannot afford to underperform, given the trust placed in him by the electorate.
"I have no reason to underperform as the elected President of the country because I campaigned for the job.
"I cannot complain about the job. I appreciate the gesture, and what you have told me this evening is very inspiring. Cut the costs. Fix the bends. Summon courage. Save the money, but push the economy. We will be there.There are some countries that have failed. There are some countries that have succeeded. In our time, in my time, all of us must work together to succeed. Thank you very much,’’ the President concluded.
In separate remarks at the Ramadan dinner, industrialists, bank executives, and entrepreneurs pledged their support towards the success of the administration’s economic programmes.
Mr. Tony Elumelu, Chairman of Heirs Holdings, assured the President that the Organized Private Sector (OPS) in the country is solidly behind him.
‘‘Your transformation journey to turn around the economy and businesses are very appropriate for the country.
‘‘We appreciate what you are doing. We know the journey will not be smooth, but given the will, we will get to the Promised Land.
‘‘We admire your decisiveness, and we appreciate what you are doing. You are extremely passionate about taking Nigeria to the Promised Land.
‘‘On behalf of the OPS, we want to assure you that we are 100 percent with you. We have engaged with your ministers and associates; we share ideas, and we support them. We know that under your leadership, you have the ability to heal Nigeria permanently,’’ Mr. Elumelu said.
Allen Onyema, Chief Executive Officer, Air Peace, charged business owners and manufacturers to work towards bringing down the cost of products and services.
Citing the example of Air Peace in reducing the cost of air tickets to London, Mr. Onyema thanked President Tinubu for improving the ease of doing business in the country.
''President Tinubu is thinking of the Nigeria of the future. The ease of doing business is coming back gradually. I can attest to that in the aviation sector because of the people you appointed to head that sector.
''I can also attest to what our High Commission in the United Kingdom did in making Air Peace flights into Gatwick Airport a possibility,’’ he said.
Dr. Stella Okoli, pharmacist and founder of Emzor Pharmaceutical Company, urged the President to look into providing more support for the pharmaceutical industry in the country to make it self-sufficient and self-financing.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
April 4, 2024
[STATE HOUSE PRESS RELEASE] President Tinubu Thanks Jim Obazee for Services as Special Investigator of The CBN at Conclusion of Investigation
AdminPresident Bola Tinubu thanks Mr. Jim Obazee, former Chief Executive Officer of the Financial Reporting Council of Nigeria (FRC), for his services as the Special Investigator of the Central Bank of Nigeria (CBN) and other related entities, upon his appointment on July 28, 2023.
The President commends Mr. Obazee for the dedication and professionalism he exercised in handling the complexities of this critical national assignment.
Subsequent to the conclusion of the assignment and the submission of a final comprehensive report, and with the winding up of all apparatuses used during the scope of the task which terminated on March 31, 2024, the investigation is formally closed, with all appropriate law enforcement and regulatory agencies already conducting follow-up action.
The President thanks Mr. Obazee for answering the call of duty while wishing him success in his future endeavours.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
April 5, 2024
The Federal Government has pegged vehicle speed limits on the Third Mainland bridge at 80 kilometres per hour.
Minister of Works, David Umahi, declared the latest speed limit during the official opening of the bridge.
The minister, who was represented by the Federal Controller of Works Lagos, Olukorede Kesha, expressed gratitude to Lagosians for their patience during the last five months of extensive repairs of the bridge.
The minister, while performing the reopening of the bridge, stated that other ancillary works like the installation of speed limits, guard rails, and CCTV, among others will end by May 24.
He lauded President Bola Tinubu for making funding seamless to achieve an indelible infrastructure upgrade, saying the underdeck rehabilitation would continue without any further hindrance to vehicular traffic.
Meanwhile, Kesha has advised road users to take ownership of the infrastructure and protect every installation on the bridge.
Also, the Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, has cautioned motorists against overspeeding as there are speed cameras that would capture them, with appropriate fines.
Osiyemi commended the federal government for the project, which according to him, is a total renewal of one of the most important bridges in Nigeria.
Motorists plying the road appreciated the federal government for collaborating with the State Government to rehabilitate the Third Mainland Bridge.
The Nigerian Electricity Regulatory Commission has taken enforcement action against the Abuja Electricity Distribution Plc (“AEDC”) for non-compliance with the Supplementary Order to the April 2024 Multi-Year Tariff Order 2024 for AEDC (the “Order”).
AEDC has been fined ₦200,000,000 (Two Hundred Million Naira) for failure to comply with the prescribed customer band classifications for the tariff billing.
This decision follows a detailed review and customer feedback, which revealed that AEDC had applied the new tariff to all customer bands, contrary to the Order, which was designed to ensure fair billing practices.
AEDC apologizes for overcharging downgraded Band A customers in Abuja FG increases electricity tariff for customers enjoying 20-hour power supply Why we signed Energy deal with Glodanif – President, Small Scale Industrialists
AEDC is therefore mandated to:
Reimburse all customers in Bands B, C, D and E respectively that were billed above the allowed customer categories/tariff bands provided in the Order.
Reimburse through the provision of the balance of customer tokens that the affected customers would be entitled to receive at the applicable rates and all token reimbursements shall be issued to the affected customers by 11 April 2024.
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Pay the sum of ₦200,000,000.00 (Two Hundred Million Naira) as a fine for the flagrant breach of the Commission’s Order.
File evidence of compliance with the directives in a & c with the Commission by 12 April 2024.
The action by the Commission underscores its commitment to protecting consumer rights and ensuring equitable practices within Nigeria’s electricity sector.
The immediate past Governor of Abia State, Dr Okezie Ikpeazu has informed members of Abia State PDP caucus that he has no plan to leave the party but will rather stay with others to rebuild it, ABN TV reports.
Speaking during a well-attended caucus meeting held at the new party secretariat at Onyerubi Crescent, Ogurube Layout, Umuahia, Dr Ikpeazu, who called for unity of purpose among members of the party in the state to ensure that the party quickly returns to winning ways, stated that the exit of some of his former aides to other political parties remains their personal choice.
“We must all take individual responsibility for our performance in the 2023 elections even as our party is going through self-cleansing at the moment. I will remain in PDP and will never be found wanting in my responsibilities to our party and its rebuilding process.
"Those who want to leave will leave no matter what you do but loyalty is also about the realization that at some point this party has been good to you. It is now time for sacrifice, especially from those who previously benefitted from our party in one way or another as we must all join hands to reposition it," he said.
Earlier in his address, the state PDP Chairman, Rt Hon Asiforo Okere thanked members who have remained steadfast in supporting the party, especially after the 2023 elections, and reminded members that the party still maintains a majority at the state House of Assembly even when the election was conducted same day with Governorship election that the party lost.
He announced that the National Working Committee of the party has extended the tenures of elected ward executives by 3 months in acting capacity and the constitution of 3 committees to handle Peace and Reconciliation, Way Forward and Finance.
Also speaking, the Senator representing Abia Central, Col. Austin Akobundu, stated that while people were free to leave and join a political party, the PDP in Abia State is a movement that nobody can kill.
On his part, elder statesman and member of the PDP Board of Trustees, Chief Onyema Ugochukwu called for unity and stated that the time for blame game is over as there were no factions in the party, and that leaders and members have learned from the 2023 experience and must be ready to bounce back. According to him, “It is now time to reposition the party and ensure that young members find comfort and space to contribute to the party and leadership in the state."
The Northern Elders Forum (NEF) yesterday expressed concern and disappointment on the recent decision by President Bola Tinubu’s government over the increase in electricity tariff.
It described the hike as a “reckless move” and a complete disregard for the well-being and welfare of the Nigerian people.
In a statement by Abdul-Azeez Suleiman, its Director of Publicity and Advocacy, the pan-northern group said it “recognizes that this drastic increase in electricity tariffs will have a significant negative impact on the already struggling population, further exacerbating the gap between the rich and the poor.”
It said the breakdown of the new tariffs revealed an alarming burden that the average Nigerian will face in affording electricity on a daily basis.
“Under the new tariff plan, 24 hours of electricity per day will cost a staggering N5,400, amounting to an unbearable monthly total of N162,000 and an astounding yearly total of N1,971,000.
“These exorbitant amounts are simply unaffordable for the majority of Nigerians, who are already grappling with economic hardship and trying to make ends meet.
“By implementing such exorbitant electricity tariffs, the government is effectively perpetuating a form of economic oppression that will only serve to widen the gap between the rich and the poor in Nigeria. It is imperative that this act of exploitation be firmly rejected and not be allowed to stand unchallenged.
“The decision to implement these tariffs without considering the impact on the average citizen is not only callous but also short-sighted. The resulting consequences could potentially lead to internal security threats as the disparity between the haves and the have-nots becomes more pronounced.
“The NEF strongly believes that this decision was made without carefully considering the economic realities faced by the majority of Nigerians and it highlights the government’s lack of empathy towards its citizens.
“Instead of implementing policies that would alleviate the suffering of the people, the government has chosen to further exploit them. This introduction of exorbitant electricity tariffs is not only unjust but also a clear indication of the disconnect between the government and the people they are meant to serve. It is a blatant display of the government’s blatant disregard for the well-being of its citizens and a betrayal of the trust placed in them.
“The NEF calls on the government to immediately reconsider this ill-conceived decision and take into account the dire economic situation faced by the majority of Nigerians.
“Nigerians must now rise and demand accountability from their leaders, reminding them that their primary duty is to serve the people, not exploit them for personal gain,” the group said.
[Dailytrust]
Nigerian rapper, OdumoduBlvck says he can do core hip-hop like American star, Eminem but chose not to because Nigerians ‘don’t understand’ hip-hop.
According to him, Nigerians only listen to melodic music so he “dumbed it down” so his records will be commercially successful.
Speaking in a recent podcast interview, OdumoduBlvck explained that he wants to make Nigerian rap “exciting” just like Wizkid did with R&B in the country.
He said, “Some Nigerians did pure rap but they didn’t make it exciting for people to gravitate towards it.
“People said my rap sounds like nursery school rhymes. I dumbed it down so I can sell these records, so you don’t have to think twice. When you listen to my rap, if you understand the lingo you get it once. You don’t have to go to any dictionary.
“It’s not hard core rap. It’s easy. I’ve made it exciting. Just like Wizkid, I want to make my rap sweet and exciting.
“I can rap like Eminem and all these guys but bro where I come from nobody is gonna listen to that stuff. They don’t understand it.”
[Dailypost]
Plateau Speaker Gabriel Dewan has sworn-in nine out of the 16 All Progressives Congress (APC) lawmakers.
The Nation gathered the swearing in took place in the early hours of Friday in Jos.
It was gathered the member from Jos East was appointed Deputy Speaker of the Assembly.
Dewan was said to have justified the swearing in based on a letter he received mentioning where it emanated from .
Details Shortly…
[TheNation]
More...
Some hoodlums on Friday invaded Agojeju-Odo, a community in Omala Local Government Area of Kogi State.
The gun-wielding men were said to have shot community members and burnt houses, Daily Post reports.
However, in a telephone interview with the state Police Public Relations Officer, SP William Aya, he confirmed the attack to our correspondent, adding that the state Commissioner of Police, Bethrand Onuoha, has deployed tactical teams to the area.
“Yes, there was an attack in the village in Omala. The CP has deployed the enforcement team along with other security agencies.”
Aya noted that an investigation is ongoing to “ascertain the cause of the attack and to unravel the perpetrators.”
Details later…
[Punch]
•As FG earns N137bn from hike
•NERC pegs forex at N1,463.3/$ despite Naira gains
•New tariff not likely to affect manufacturers – MAN
•It’s back door to general tariff hike — consumers
At the backdrop of a huge discrepancy between the number of feeders covered as Band A customers by electricity distribution companies (DisCos) and what was approved by the Nigeria Electricity Regulation Commission (NERC) the DisCos are now making moves to return some of the consumers to Band A to charge the new tariff.
Vanguard learnt that the DisCos had recorded 1,100 feeder coverage areas for Band A but NERC said the actual coverage area for the new tariff is only 480.
A source in one of the DisCos in Lagos told Vanguard that they are now working on increasing the number of Band A consumers to return those earlier removed by NERC back to Band A.
Recall that the NERC, on Tuesday, hiked the electricity tariff for Band A customers by 230 per cent from N68 per kilowatt hour to N225/kWh.
Band A customers are those who receive an average daily supply of electricity supply 20 hours or more. With the new order issued by NERC, Band A would no longer enjoy Federal Government subsidy on electricity.
Meanwhile, the new tariff regime is expected to reduce subsidy costs by N137.1 billion per month following the decision to raise tariff for about two million consumers by 230 percent.
Following the freeze in tariff annual subsidies payable by the government grew to N241.66 billion monthly, but the Nigerian Electricity Regulatory Commission, NERC, in the April Supplementary Tariff Order, has disclosed that the government would now spend only N104.6 billion monthly as subsidies.
Vanguard checks on the orders issued separately to the 11 electricity companies indicated that the government will pay the highest monthly subsidies of N18.95 billion in the four states (Niger, Kogi, Nasarawa and Federal Capital Territory) supplied by the Abuja Electricity Distribution company, AEDC.
Further breakdown showed that the government’s monthly subsidy bill for customers in the other DisCos are Ikeja Electric (N17.03bn), Jos DisCo (N9.19bn), Kaduna DisCo (N9.76), Ibadan DisCo (N11.16bn), Enugu DisCo (N10.31bn), Benin DisCo (11.01bn), Yola DisCo (N6.86bn), Port Harcourt DisCo (N10.12bn), Kano DisCo (7.79bn) and Eko DisCo (N13.74).
The Commission in the orders explained that the new increase in electricity for the 1.9 million customers in Band A became necessary following changes in indices used in setting the tariff earlier in the year.
According to NERC, the new tariff is based on an inflation rate of 31.7 percent and foreign exchange rate of N1, 463.3 to a dollar. It said it expects energy supply to grow to 5,351GWh.
NERC raised the cost of power generation by 63 percent from N63.8/kWh to N103.9/kWh and cost of transmission & administration by 34 percent from N6.8/kWh to N9.1/kWh.
Speaking on the issue, energy expert, Prof. Yemi Oke said it was wrong for the government to continue to put money into the pockets of the power companies so that Nigerians would continue to get power no matter how little.
He added the government has started on a good path, stressing that “the coming on board of the structure that we are beginning to have in terms of electricity tariff will necessarily show that we are now ready as a country to do the right thing”.
He explained that the decision by the government would boost liquidity for the sector, stating that the distribution companies have been operating at a huge loss leading to a significant rise in debts across the value chain.
“Ninety-five percent of the DisCos are technically insolvent, meaning they have never been able to sufficiently generate money that will cover their loss with profit. A lot of them are exposed in terms of lending, a lot of them are under receivership and whichever way you look at it, the power sector is challenged”, he added.
In his reaction to the hike, the President, of Nigeria Consumer Protection Network, Mr. Kunle Olubiyo warned that DisCos would capitalize on the new order to increase tariffs across the board.
He wrote: “NERC folks simply played with words and played on the psyche of the public. The Distribution Companies would naturally increase electricity tariff unilaterally and this will undoubtedly cut across all bands and cost inputs and variables of inputs of production are universally benchmarked”.
On his part, Prof. Wumi Iledare, Professor of Petroleum Economics and Policy Research, said: “New tariff is perhaps based on the increase in the wellhead price for gas. We must agree, however, N68 per KWhr is a price ceiling significantly below the market clearing price. N68 is also not anywhere close to the fair return price of an economic good with decreasing marginal cost and average cost curve.
“The social optimum price of electricity is also not N68 Naira either. So, NERC had to do something apolitical, which ought to have been done long before now but for institutional capture and political expediency, which beclouded their good judgment for too long. So it is better late than never. I guess the commissioners have come to understand the facts better than before.
“The accuracy of the tariff is conjectural because of the many unknowns. It is perhaps arrived at based on assumptions and facts within the context of the pricing model applied. I am hopeful that as more facts become available, the pricing model will be recalibrated in a self-adjusting manner! If what I am reading in the media is correct there is a price discrimination application based on daily supply hours. Such mechanism is not unusual in a segregated market demand structure for power.
“That NERC did not take input from the public is quite debatable. It depends on the definition of the phrase public input from media or NERC perspective within the context of Nigeria. Public hearing is usually mandatory a competitive economy, but institutions in Nigeria are yet to let go of the dictatorial propensity and transactional leadership tendency in governance.”
Similarly, the Executive Director, Power Up Nigeria, Mr. Adetayo Adegbemle, said: “Many of the maximum demand users (industries and productive users of electricity) are covered under Band A feeders – thereby catalyzing industry as a vehicle for economic development. This increased energy supply to these feeders will reduce their net energy spend because otherwise, they would have to depend on diesel gensets which cost twice the cost of grid energy per kWh.”
He also noted that “This tariff design is intentionally designed to be pro-poor. The Commission has reviewed the areas that are proposed for review, and they are generally the areas where consumers have higher affordability levels compared to other areas.
“Notwithstanding, the DisCos have a universal obligation to ensure that service is delivered to customers, and as part of this reform, they will be given clear Key Performance Indicators that envisage an upward migration of a certain number of feeders to band A every quarter, thereby improving the overall level of service to their customers under their franchise area.”
Not sure it applies to manufacturers – MAN
Meanwhile, reacting to the new tariff regime, Segun Ajayi-Kadir, Director General of the Manufacturers Association of Nigeria (MAN), said that the tariff hike does not seem to apply to heavy users like manufacturers.
He however, said consultations are ongoing to get full clarity.
Speaking to Vanguard, Ajayi-Kadir stated: “It is not clear those who are affected and I am still consulting, together with understanding the underlying issues.
“It does not appear to have a blanket application for heavy users like manufacturers, who are majorly maximum demand users. I will revert when we have full clarity.”
[Vanguard]
Abba Yusuf, governor of Kano, has set up two judicial panels to probe cases of political violence and misappropriation of public assets during the previous administration.
Yusuf, in a statement on Thursday by Sanusi Bature, his media aide, said the panels will also look into cases of missing persons in the state, from 2015 to 2023, when Abdullahi Ganduje was the governor.
Ganduje is the current national chairman of the All Progressives Congress (APC).
The governor said the action was not politically motivated or directed at any individual.
He said the move is to fulfil the pledge made during his inauguration to prosecute persons involved in misappropriation of public funds.
“Political violence is a major setback to democracy worldwide. It leads to loss of lives and property as well as mistrust on the part of the people and those in power,” the statement reads.
“The disturbing cases of Political killings especially in 2023 must not be swept under the carpet, this is to ensure we prevent future occurrences.
“We expect them to unravel the criminal network involved and unmask the sponsors to face justice. Find its root causes and find out where violence is associated with 2015, 2019 and 2013.”
He said the first judicial commission will be headed by Zuwaira Yusuf, judge of Kano high court, who will probe cases of political violence and missing persons since 2015.
He said Faruk Lawan, a judge in the state, would head the second panel to investigate cases of misappropriation of public properties and assets.
The governor asked the commissions to adhere and remain committed to their oath, adding that members of the panel were thoroughly selected.
“We went through your records and we couldn’t find any of you wanting. We believe in you and we expect your full reports in 3 months time,” he added.
[Thecable]
Says with student loan scheme, brighter future awaits Nigerian child
Nigerian students will not lack funds for education — Reps
Assure bottlenecks depriving students from accessing loan already removed
President Bola Tinubu has said though he does not have the magic wand, his administration would fix the economic challenges confronting the citizenry.
He also assured that the path to take the Nigerian child out of poverty has been cleared with his signing into law of the Student Loans Re-enactment Bill.
The President spoke Wednesday night when he hosted members of the All Progressives Congress, APC, Presidential Campaign Council, PCC, and the Independent Campaign Council to Iftar at the Old Banquet Hall, Presidential Villa, Abuja.
This is even as the Chairman of House of Representatives’ Committee on Student’s Loan, Gboyega Isiaka also assured Nigerians of the present administration’s resolve towards ensuring adequate funding of the Student’s Loan scheme for the benefits of students.
The country’s inflation rate has been on a steady rise since the Tinubu administration ended the petrol subsidy regime and unified the exchange rate in 2023.
In its latest report, the National Bureau of Statistics, NBS, said inflation rose to 31.7 per cent in February 2024, up from 29.9 per cent in the previous month.
The President, who also noted the country’s capacity to generate revenue was getting better, said: “It is the hard job that you promised the people of Nigeria when you were campaigning for me, you promised them a good result. Didn’t you? That is it! I have to work for it. No magic wand.
“I campaigned on hope, I have to rest on that hope, and push for that hope for the joy of everyone of us.
“The economy is looking good. Don’t worry about that… we know we have the challenge of inflation, it is okay, we will bring it down. We are reengineering, our revenue is getting better.”
The president said Nigeria was regaining its respect and sovereignty around the world, saying “not that we have to go there and hire them to do the job for us, we are doing it ourselves.”
”Whatever is happening to us, we have to solve it by ourselves. It is your effort, your thinking, your resourcefulness, your investment, your dedication and hard work that can only get us there.”
On the student loan scheme, the President in a statement by his Special Adviser on Media and Publicity, Chief Ajuri Ngelale, said: “The only thing that can fight poverty is education. Today, I signed the bill for the Student Loan Scheme. Imagine the children of the poor; what about people going through the mud, fishing in the ponds?
“How do you tell their children that their future will be brighter? It is only through education that we can fight poverty. A promising future awaits our children.”
He used the occasion to reassure Nigerians that the economy was being steered onto the path of sustainable growth and broad-based prosperity for Nigerian families in all parts of the country.
Speaking further, Tinubu said: “The economy is looking much better. Yes, we have challenges of inflation but we will bring it down. When the exchange rate was going haywire, it looked like we were asleep, but we worked on it diligently, and it is going down; it is getting better.
“Borrowing was higher a year ago but today, we are reengineering the financial landscape, and our revenue is expanding. And we are taking up our sovereignty and earning our respect back in the comity of nations.”
Acknowledging members of the PCC and ICC for their rigorous efforts toward his election, the President said: “It is your footwork and footprints that made me the President. I campaigned on hope, and you promised Nigerians hope and a good result when campaigning for me.
“There are a lot of expectations. I, therefore, have to work hard for it. There is a windy road we are traveling. We have to navigate carefully. Otherwise, one ends up in the bush, and that is all I have been focused on.
“It is your effort, resourcefulness, and dedication that has brought us here. The results will not come suddenly, you have endured the campaign, you must endure more, and I assure you that a very bright light beckons for you and your children. Nigeria will prosper, and we will all reap the benefits. We will work with determination and persistence.”
While urging citizens to continue to have faith in Nigeria by supporting his administration to succeed for the benefit of all, President Tinubu noted that “Europe and America did not get to where they are today in one day, but through persistence and hard work, which take time and consistent focus.”
“Pray for Nigeria, think Nigeria. This is not play time. Let us believe in ourselves. We must ask questions. What is happening to our solid minerals? No rival wants you to be bigger than them.”
Nigerian students’ll not lack funds for education
Meanwhile, the House of Representatives also assured that all obstacles in the way of securing the loan had been cleared for the benefit of Nigerians
Chairman, Committee on Student Loans, Gboyega Isiaka, who gave the assurance in Abuja yesterday, disclosed that the quantum of funds required for successful implementation of the Student Loan would be drawn from one per cent of all revenues accruing into the federation account.
He said: “The patriotism and determination to make sure that this is a sustainable success still made the executive and Mr. President in particular, to present those far-reaching amendments which has not become law.
“The law has amended so many shortcomings in the 2023 law in the area of fund that we have. Now, we have a known corporate entity that is called Nigerian Education Trust Fund. We now have an institution that is strong, sustainable and comparable to what we have in different parts of the world and going by all that will come into it.”