Despite his closeness and support for the President-elect, Ondo State Governor, Rotimi Akeredolu, has rejected the soning formula announced by the All Progressives Congress, APC.

The party had announced on Monday that the Southsouth and Northwest should take the positions of the president of the Senate and Speaker of the House of Representatives.

As soon as the announcement was made, other aspirants for the positions rejected the zoning formula including 18 senators-elect from Northcentral, which was allocated no principal position.

Akeredolu who has been a staunch supporter of Tinubu and advocated for a southern presidency voiced his position on Wednesday in a statement issued in Akure, Ondo State.

He said that “Aside the unpretentious ambiguity in the purported Press Statement issued by the leadership of the APC, the contents, intentions and motives of the zoning formula represent early signs of steps aimed at attempts to cabin the hard-earned Presidency for our Leader, Asiwaju Bola Ahmed Tinubu by a few individuals with eyes on Aso Rock Power Buttons.’

The statement reads “It is trite to aver, that, it stands logic on the head that one geo-political zone, Northwest in this regard, will be favoured with two presiding officers positions out of four while North Central suffers the consequences for its innocence and shrewd loyalty by having none.

“It is an insidious permutation that North East will be deprived in the face of the unsavoury generosity dispensed through two slots to a particular geo-political zone.

“It is self-repudiating for one to argue, therefore, that the Speaker of the House of Representatives cannot also emerge from the North East.

“Therefore, the move to zone the National Assembly leadership positions on the behest of interested personalities with perceived closeness to the President-elect manifesting, lays the dangerous foundation of distrust, needless suspicion even as it structures nothing but a combination of booby traps. We must avoid all these,” he stated.

He suggested that, “Let the North play a stronger, more robust and all-inclusive role in the emergence of the positions zoned to the region, especially the Speakership.

“Furthermore, it strikes a huge ingratitude that the role of the Progressive Governors Forum appears unimportant.

“As leaders of the Party in their respective States, there cannot be a greater disservice to them that a consensus was yet to be reached when the NWC hurriedly released a dangerous tool for the opposition in the guise of a zoning formula. To me, even on this note, it’s unacceptable.

“Does it not also exude a serious discomfort that the aspirants to the Speakership were not consulted, approached and effectively engaged before the purported zoning formula? It does, and clearly so.

“It is in this regard that I salute the courage of the Speakership aspirants for their show of solidarity, companionship and applaudable love for the Party in their rejection, resentment and objection to the brazenly teleguided zoning arrangement that is skewed and targeted against some zones and identified individuals,” the governor added.

He explained that, “Their action is commendable just as they are urged to ensure they pursue this to a logical conclusion.

“This is an unworkable arrangement that reinforces injustice and enhances inequity; and I join them in rejecting this zoning formula.”

He called on ” the NWC of our great Party to follow the path of purity and Justice. It is perhaps expedient that Mr. President-elect interrogates this skewed arrangement and gives direction that reflects our collective commitment to equality and fairness.

“In this particular case, and for the purpose of avoiding a repeat of untoward situations, it is advised that the APC NWC immediately summons the National Executive Committee (NEC)after robust National Caucus/Stakeholders parley to agree on terms that would strengthen our great Party,” he implored.

Last modified on Thursday, 11 May 2023 08:22

Lagos State government, yesterday, arraigned Eze Ndigbo of Ajao Estate in Lagos, Frederick Nkemdilim Nwajagu, before Justice Yetunde Adesanya of a Lagos High Court sitting in Tafawa Balewa Square (TBS), for alleged terrorism.

The defendant was arraigned on nine-count charges bordering on an attempt to commit acts of terrorism, participate in terrorism, meet to support a proscribed entity, attempt to finance an act of terrorism, and preparation to commit an act of terrorism.


According to a suit marked no: LD/21505C/2023, his offences contravene the provision of section 403(2) of the Criminal Law of Lagos State, 2015 and sections 12(c), 18, 21, 29 & 12(a) of the Terrorism (Prevention & Prohibition) Act, 2022, among others.

The state’s counsel, Deputy Director in the Ministry of Justice, Jonathan Ogunsanya, who represented the Attorney General of Lagos State, Moyosore Onigbanjo, informed the court to allow the defendant to take his plea.

The defendant denied the allegation and pleaded not guilty to all counts.

Consequently, the judge adjourned the case to July 4 and 5, 2023, for trial.

Recall that Nwajagu was arrested by operatives of the Department of State Services (DSS) over an alleged threat to invite members of the Indigenous People of Biafra (IPOB) to Lagos to secure properties of Igbo people in the state.

Last modified on Thursday, 11 May 2023 10:55

THE Senate said that President Muhammadu Buhari has failed to act on a report that indicted top management of government Ministries, Departments and Agencies, MDAs, who have spent well over N1 trillion fraudulently.


The indictment of the MDAs by the Senate, yesterday, was sequel to the consideration of the Senator Matthew Urhoghide (PDP, Edo South) led Senate Committee on Public Accounts reports of 2017 and 2018 of Auditor General of the Federation.

Addressing journalists after the presentation of the reports, the Vice Chairman of Senate Public Accounts Committee, Senator Hassan Hadejia(APC, Jigawa North East) said, that the committee has been able to submit four reports to the Senate, which has never happened since 1999, explaining that the 2015, 2016, 2017 and 2018 reports of the auditor general have been submitted and considered by Senate.

Senator Hadejia said: “We have put two bills together, the Federal Audit Bill, which has already been passed. Next week, the second Bill relating to the office of the Auditor General for the Federation will be considered. It seeks to approve some level of mandate for the adoption and application of the Public Accounts Committee reports.


“The total money that we have recovered so far and which we have said should be refunded, amounted to over N1trillion.

“We have submitted our reports to the executive arm of government but up till now, we have not even got an acknowledgement of the report from the executive.”

Earlier during the consideration, the Senate, yesterday indicted the office of Accountant General of the Federation and National Agency for Food and Drugs Administration and Control, NAFDAC, and 45 others Ministries, Departments and Agencies.

The Senate also ordered Nigerian Maritime Administration and Safety Agency, NIMASA, to recover $10 million paid for legal fee and technical charges without results to Consolidated Revenue Fund, CRF.

In the $10 million expected to be recovered, $5 million was for legal fee and additional $5 million for technical charges, just as $5 million was said to be the five percent of the $9.3 billion Nigerian hydro-carbon loss between 2013 and 2014.


The name of law firm, though not disclosed, was expected to carry out necessary legal actions that would enable NIMASA to perfect an intelligence based efforts to track the nation’s hyrdo-carbon global movement.

The AuGF report indicated that the money was paid from new generation bank dollar account.

Other MDAs indicted by the 2017 and 2018 report were Office of the Accountant General of the Federation, Federal Ministry of Environment, National Library, Financial Reporting Council, Federal Ministry of Finance, Federal Mortgage Bank, Energy Commission, Nigerian Copyright Commission and Maritime Academy of Nigeria, Iron.

Others include Ministry of Justice, Federal Civil Service Commission, Public Complaint Commission, University of Uyo, University of Abuja, Federal University, Oye Ekiti, National Examination Council, NECO.

Last modified on Thursday, 11 May 2023 08:12

The Central Bank of Nigeria, CBN, has clarified that the Bank Verification Number, BVN, has no expiry date. CBN’s spokesman, Dr. Isa AbdulMumin, made the clarification in a statement last night.

He was reacting to media reports that the BVN expires after 10 years.

He said: “The attention of the CBN has been drawn to reports suggesting that the BVN issued by the bank in collaboration with the Nigeria Inter-Bank Settlement System, NIBSS, expires after a ten-year period.

“Contrary to these claims, we wish to clarify that the BVN issued in Nigeria has no expiry date.

“Once a customer’s biometrics have been captured and enrolled in the database of NIBSS, the BVN remains for life. However, the Regulatory Framework for BVN issued by the CBN in 2021 stipulates that customers can only change their records due to certain conditions spelt out in the document and after being cleared by relevant authorities.

“Therefore, we urge bank customers in the country, especially those whose biometrics have been captured by the system, to continue using their unique identifiers as they last their entire lifetime. “Be guided accordingly.”

…Tells Lawmakers about Nigeria’s limited borrowing space

Amidst the fear of Nigeria being trapped  in debt ,President Muhammadu Buhari  has again raised letter of request for approval to the Senate to obtain  another $800 million loan from the World Bank.

This request made  18 days to end the tenure of President Muhammadu Buhari-led Federal Government according to analyst will worsen Nigeria’s debt profile which has constitently maintained an upward trend.

The request for the loan, said to be for financing the National Social Safety Network Programme, was contained in a letter read by the President of the Senate, Ahmad Lawan, to lawmakers on the floor of the Senate on Wednesday.

The letter of President Buhari partly read, “Please note that the Federal Executive Council approved an additional loan facility to the tune of $800 million to be secured from the World Bank, for the National Social Safety Net Programme and the need to request for your consideration and approval to ensure early implementation.

“The Senate may wish to note that the programme is intended to expand coverage of shock responsive safety net support among the poor and vulnerable Nigerians. This will assist them in coping with the costs of meeting basic needs.

“You may wish to note that, the Federal Government of Nigeria under the conditional cash transfer window of the programme will transfer the sum of N5,000 per month to 10.2 million poor and low-income households for a period of six months, with a multiplier effect on about 60 million individuals. In order to guarantee the credibility of the process, digital transfers will be made directly to beneficiaries’ accounts and mobile wallets.

“The NASSP being a social intervention programme will stimulate activities in the informal sector, improve nutrition, health, education and human capital development of beneficiary households.

“Given the above, I wish to invite the Senate to kindly approve an additional loan facility to the tune of USD8OO million to be secured from the World Bank for the National Social Safety Net Programme.”

He expressed hope that the request will “receive expeditious consideration by the Senate.”

Nigeria’s borrowing from the World Bank had reached $14.34billion as of March 31, 2023, with a debt of $488.66million from IBRD and $13.85billion from IDA as of March 31, 2023.

…Much trouble, we are pushing towards 100 per cent revenue-to-debt ratio’ — Budget Office warns

Meanwhile, the Budget Office of the Federation has said trouble looms for the Country, pointing to a “limited borrowing space” amidst poor debt-to-revenue ratio.

The Director-General,  Budget Office, Ben Akabueze, while addressing members-elect of the 10th National Assembly at their week-long induction ceremony in Abuja on Wednesday, pointed out that while Nigeria remains healthy with its debt-to-GDP ratio, the Country is not healthy with its debt-to-revenue ratio.

Akabueze whose address to the newly elected and returning members of the National Assembly, who upon inauguration will be responsible for the consideration, amendment and passage of annual budgets of the Federal Government as well as approval of loan request, coincided with the time the Buhari’s loan request was read on the floor of the Assembly on Wednesday,  said, “You may have heard that we have one of the lowest Gross Domestic Products-to-debt ratios in the world. While the size of the FG budget for 2023 created some excitement, the aggregate budget of all the governments in the country amounted to about N30trillion. That is less than 15 per cent in terms of ratio to GDP.

“Even on the African continent, the ratio of spending is about 20 per cent. South Africa is about 30 per cent; Morocco is about 40 per cent. And at 15 per cent, that is too small for our needs. That is why there is fierce competition for the limited resources.

“That can determine how much we can relatively borrow. We now have very limited borrowing space; not because our debt to GDP is high, but because our revenue is too small to sustain the size of our debt. That explains our high debt service ratio. Once a country’s debt service ratio exceeds 30 per cent, that country is in trouble and we are pushing towards 100 per cent, and that tells you how much trouble we are in.

“We have limited space to borrow. When you take how much you can generate in terms of revenue and what you can reasonably borrow, that establishes the size of the budget. The next thing would be to pay attention to the government’s priority regarding what project gets what.

“We are not even an oil-rich economy. To classify oil-rich economies, you talk of countries like Saudi Arabia where there are 34 million of them and pump 10 million barrels of crude per day, or Kuwait where there are 3 million of them and pump 3 million barrels per day.”

He noted  that for Nigeria,  while she has a population of over 200 million, she is  currently pumping about 1.9 million barrels per day.

“So, we are not a rich economy and must resist the temptation we are an oil-rich economy. Let me make it clear that we are potentially rich countries, but we are not,” he argued.

Recall the duo of the Senate and House of Representatives had respectively on Wednesday and Thursday last week, approved the President Buhari Ways and Means N22.7 trillion loan request to be sourced from the Central Bank of Nigeria (CBN).

The N22.7 trillion Ways and Means credit facility which authorises the Federal Government to borrow money from the (CBN), would be adding to the huge debt profile of the Country which has become a burden with lamentations from stakeholders who fear the Country may become trapped in debt with the risk of using 100 percent of its revenue to service debt.

[NewsDirect]

Operatives of the Benin Zonal Commander of the Economic and Financial Crimes Commission have arrested Precious Ojo, aka Obago, a suspected internet fraudster in Oghara, Delta State.

The 26-year-old was arrested following a petition received from a United States of America citizen, on his fraudulent activities.

 

The petitioner had alleged that the suspect impersonated one Raymond Bush who works in the US Treasury to defraud her of $268,000.00.

The suspect was arrested at his hotel in Oghara. He confessed to building the luxury hotel with his alleged proceeds of crime.

Other items recovered from him include a Mercedes-Benz car with personalised plate numbers and mobile phones. The suspect will be arraigned in court soon.

Last modified on Thursday, 11 May 2023 11:09

There is disquiet in the Rivers State chapter of the All Progressives Congress, APC, over the somewhat strange romance between the Governor of Rivers State Nyesom Wike and the party’s hierarchy, especially the President-elect, Bola Tinubu.

The development is causing upset among the APC members ahead of the inauguration of Tinubu as President and his formation of cabinet within six months.

Against his own political party, the Peoples Democratic Party, the Governor is believed to have worked for the national ruling party during the 2023 presidential election.

 

And this has intensified the rumours that it is just a matter of time before the governor joins the ruling party.

Wike was once the most loyal and influential leader in the PDP prior to the May 2022 presidential primary election of the party.

Nigerians will not forget in a haste how the Governor had during voting at the convention held at the Moshood Abiola Stadium, Abuja, vowed to commit to the party.

He said then: “I vow today that anybody who emerges here, I will support the person to the fullest because I am a committed party person. Since 1998, I have been at this party and I am not going anywhere.”

However, the Governor entered into a long battle with the national body of the PDP and the elected presidential candidate, Alhaji Atiku Abubakar immediately after the primary, dragging four other governors along with him to form what was later known as the G5.

He has taken it further after the polls, with his recent invitation of Tinubu to commission projects in the oil-rich State.

However, a former governor of the State, Chibuike Amaechi, who came second during the party’s presidential election in June 2022, has been conspicuously absent in as many occasions that Tinubu has visited Rivers State, either as a presidential candidate or as the President-elect.

Wike was one of the politicians who wondered what good works President Buhari had done that presidential aspirants such as Bola Tinubu would base their campaigns on.

Wike had said that Nigerians were under the yoke of APC maladministration with an intractable insecurity situation that has crippled the economy and increased hunger.

He said then: “It is most unfortunate when I hear people declaring [intention to be president] under APC and saying they want to continue the good job of Mr President – the good job of people dying every day, the good job of naira falling every day.

“I feel so ashamed that we have got to the level of sycophancy where people will come and say I want to continue the good job of Buhari. What is the good job of Buhari – hunger, poverty, insecurity, economy falling?

“I can’t believe that somebody will come out in today’s Nigeria and say I want to continue where Mr. Buhari has stopped. May God never allow that evil to continue.”

But all that posture changed during the presidential election.

Apart from being accused of rigging the presidential election in favour of the APC candidate, Wike has in words and actions shown that he was solidly behind Tinubu, before, during and after the elections.

Members of the APC in the State see Wike’s actions as a scheme to be appointed minister upon the end of his tenure on May 29.

Tinubu, during his recent visit to Rivers State, hailed the governor for working for his emergence, especially by weakening the PDP.

Prior to the PDP’s primary election, the governor, who claimed to be working for Southern presidency blocked the PDP from zoning the presidency because he realised that the South East would get the cut if the ticket was micro-zoned.

Speaking to DAILY POST on these developments, a former Spokesman for the defunct new Peoples Democratic Party, PDP, and chieftain of the APC in the South South, Chief Eze Chukwuemeka Eze said, “Gov. Wike though a friend is a very confused and drowning fellow looking for whatever he can hold to survive but the future will surely determine his fate.

“Anybody worrying himself or herself about Wike and his type of politics probably has no serious task to do, so I wouldn’t like to waste my precious time to talk about a drowning man.

“Nigerians and the entire world are fully aware of the stand of Wike about both Buhari, Tinubu and APC, so if they feel after all that Amaechi sacrificed to build APC that Wike is their new Saviour, I wish them the best of luck. God will surely judge all our actions no matter the odds.”

On the fate of Amaechi if Wike decides to decamp to APC, Eze said, “Both I and Amaechi and other members of his political family have passed the level of attaching our fate to that of any human being. It will be an insult to us and our God for Wike and his drowning collaborators to determine our political fate. They don’t have such powers.

“For your information, Wike at the moment is not a member of any political party. They are aware that they are politically orphans though he is shameless and if he feels like joining APC, I wish him the best of luck.

“I must confess that I am enjoying the trends of events as it is helping us to know how characterless some of our so-called leaders are but let us not despair as God is working out something great for this country.”

Speaking on Wike’s denial of working for Tinubu and insisting all he wanted was Southern presidency, the party chieftain added, “You are forcing me to give Wike the attention that he doesn’t deserve.

“Wike is the most selfish Nigerian politician you can think of in this dispensation. He has not the interest of anybody or region at heart.

“Everything is all about himself. He frustrated Obi out of PDP with hope of becoming the landlord of PDP but Atiku proved him wrong and reduced him to the wailing fellow he has become.

“Tinubu knew that Wike never worked for him; he will be highly disappointed as Tinubu and his camp are already plotting on how to do away with his nuisance scheme.”

On the question on why Amaechi has been silent in the face of what many people would see as being sidelined by his political party, Eze said, “What exactly do you want Amaechi to say about what is happening with Tinubu, APC and Wike?

“I have advised myself to keep quiet and watch this romance all aimed at undermining Amaechi. At the appropriate time, I will expose to Nigerians when this evil plot was hatched and how it will be concluded.

“From the little I know about Amaechi and his type of politics, he has never had any plan of his own. God is the one that plans for him, so when God wants him to act, he will act accordingly and Nigeria and Nigerians will know that you can’t, no matter the odds, undermine God’s anointed one. In vain they gather as their gathering can never be sanctioned by God.

“I appeal to us all to exercise patience as we will soon address some of the issues agitating the minds of Nigerians and the future of Amaechi and his political family.”

[DailyPost]

Last modified on Thursday, 11 May 2023 11:07

Lagos State Government yesterday continued its enforcement against illegal construction on Banana Island.

It re-sealed 12 buildings where the occupants removed the seals.

 

The government also demolished fences on new project sites encroaching on waterways and other parts of the estate, including some that were perforated (toked) from previous enforcements.

 

Toking is a process of partial demolition to compel compliance.

The General Manager of the Lagos State Building Control Agency (LASBCA), Mr. Gbolahan Oki, led the enforcement team. He was accompanied by officials of the agency, Lagos State Physical Planning Permit Authority and Lagos State Task Force.

Oki told some residents that he was sealing buildings that were without approvals and others built beyond approved setbacks.

 

He advised some residents to go for regularisation and others to visit LASBCA and sister agencies for requisite approvals.

A scuffle ensued at 306 Close where a security guard resisting re-sealing of the property he guarded, slapped a director.

The guard was subdued, apprehended and the house re-sealed, while other houses with broken seals where access was denied had their gates cut down and fresh seals applied.

Oki condemned the action of the residents, describing it as “the height of lawlessness.”

[Nation]

He said the insinuation that the BVN expires after 10 years of issuance is incorrect.

 

“Contrary to these claims, we wish to clarify that the BVN issued in Nigeria has no expiry date. Once a customer’s biometrics have been captured and enrolled in the database of NIBSS, the BVN remains for life.”

It, however, said based on “the Regulatory Framework for BVN issued by the CBN in 2021 stipulates that customers can only change their records due to certain conditions spelt out in the document and after being cleared by relevant authorities”.

The CBN urged bank customers to be wary of unverified news from questionable sources.

“Therefore, we urge bank customers in the country, especially those whose biometrics have been captured by the system to continue using their unique identifiers as they last their entire lifetime,” it said.

The statement was a response to a trending video alerting Nigerians to the need to revalidate their BVN after 10 years of issuance. With the BVN programme taking off in 2014, the video circulating on WhatsApp said most Nigerian depositors would need to update their BVNs next year.

[Guardian]

 

Pioneer president of the France Nigeria Business Council, Abdul Samad Rabiu, has handed over the reins of the Council after a successful two-year tenure to the group managing director of Access Bank, Herbert Wigwe.

Rabiu, the founder and executive chairman of BUA Group, handed over the reins to Wigwe in a ceremony held today, marking a new chapter in the Council’s history.

In his farewell address, Rabiu expressed gratitude to the Council members, president Macron, and other stakeholders for their unwavering support during his tenure. He acknowledged the exceptional service of Jean Haas, the Secretary of the Council, who will continue in his role under the new leadership.

During Rabiu’s tenure as the pioneer President, the Council achieved significant milestones in strengthening business ties between France and Nigeria, promoting mutual growth and prosperity. Under his leadership, the Council organized two France-Nigeria Business Forums in Paris, a meeting in Lagos, and a session in Paris last year, which led to several fruitful partnerships between French and Nigerian businesses. Rabiu also oversaw the Council’s support for various initiatives fostering collaboration between the brightest minds of both nations and nurturing the next generation of entrepreneurs.

Herbert Wigwe, the incoming president, is a seasoned banker and a prominent figure in the Nigerian banking sector.

 

Rabiu expressed confidence in Wigwe’s ability to lead the Council towards new heights, citing his vast experience and keen understanding of the global financial landscape as key assets.

[Leadership]