The naira depreciated to N1,550 against the dollar at the parallel section of the foreign exchange (FX) market on Wednesday.
The current FX rate signifies a decline of 1.95 percent from the N1,520/$ reported on May 13.
Currency traders, also known as street traders, in Lagos, quoted the buying rate of the local currency at N1,510/$ and the selling rate at N1,550/$ — leaving a profit margin of N40.
At the official window, the local currency appreciated by 4.21 percent against the dollar from N1,520.4/$ on May 14 to close at N1,459.02 on Wednesday.
According to FMDQ Exchange, a platform that oversees the official window, a dollar was sold as high as N1,593 and at a low rate of N1,401 during trading hours.
The daily foreign exchange market turnover was $289.14 million.
On May 14, the Economic and Financial Crimes Commission (EFCC) said foreign missions based in Nigeria use third parties to transact in foreign currencies.
Speaking during an interview, Wilson Uwujaren, EFCC’s acting director of public affairs, said the commission has a task force whose duty is to fight the abuse of the naira and discourage transactions in dollars within Nigeria — which is against the law.
The meeting called by the federal government on Wednesday to discuss the national minimum wage for workers ended abruptly as leaders of organised labour staged a walk-out.
Joe Ajaero, president of the Nigeria Labour Congress (NLC), and Tommy Okon, deputy president of the Trade Union Congress (TUC), represented the workers at the meeting.
Speaking on behalf of the labour at a press conference, Ajaero condemned the federal government’s proposed N48,000 wage.
He said the government was not serious about negotiating with the labour.
Ajaero said the government has until the end of the month to arrive at a decision.
“The government’s proposal of a paltry N48,000 as the minimum wage does not only insult the sensibilities of Nigerian workers but also falls significantly short of meeting our needs and aspirations,” he said.
The NLC and TUC had proposed N615,500 as the minimum wage the federal government should pay Nigerian workers, citing the high cost of living.
Ajaero said the government’s failure to provide data to support the N48,000 it offered exacerbates the situation.
He said the lack of transparency and good faith undermined the credibility of the negotiation process and eroded trust between the parties involved.
“The organised private sector proposed an initial offer of N54,000, though it is worth noting that even the least paid workers in the private sector receive N78,000, as clearly stated by the OPS, highlighting the stark disparity between the proposed and prevailing standards,” the NLC president said.
“This further demonstrates the unwillingness of employers and government to faithfully negotiate a fair national minimum wage for Workers in Nigeria.
“As representatives of Nigerian workers, we cannot in good conscience accept a wage proposal that would result in a reduction in income for federal-level workers who are already receiving N30,000 as mandated by law, augmented by Buhari’s 40% peculiar allowance and the N35,000 wage award, totalling N77,000 only.
“Such a regressive step would undermine the economic well-being of workers and their families and is unacceptable in a National minimum wage fixing process.”
The National Bureau of Statistics (NBS) says Nigeria’s inflation rate rose to 33.69 percent in April, as prices of food and non-alcoholic beverages soared.
The NBS shared the inflation data in its consumer price index (CPI) report on Wednesday.
“Looking at the movement, the April 2024 headline inflation rate showed an increase of 0.49% points when compared to the March 2024 headline inflation rate,” the NBS said.
“On a year-on-year basis, the headline inflation rate was 11.47% points higher compared to the rate recorded in April 2023, which was 22.22%.
“This shows that the headline inflation rate (year-on-year basis) increased in the month of April 2024 when compared to the same month in the preceding year (i.e., April 2023).
“Furthermore, on a month-on-month basis, the headline inflation rate in April 2024 was 2.29%, which was 0.73% lower than the rate recorded in March 2024 (3.02%).
“This means that in the month of April 2024, the rate of increase in the average price level is less than the rate of increase in the average price level in March 2024.”
NBS said the top five contributors to the increase in inflation rate are food and non-alcoholic beverages, housing, water, electricity, gas and other fuel, clothing and footwear, transport, as well as furnishings, household equipment and maintenance.
The bureau said on a year-on-year basis, the urban inflation rate rose to 36 percent in April, “which was 12.61% points higher compared to the 23.39% recorded in April 2023”.
“On a month-on-month basis, the Urban inflation rate was 2.67% in April 2024, this was 0.50% points lower compared to March 2024 (3.17%),” NBS said.
Also, NBS said the rural inflation rate in April was 31.64 percent on a year-on-year basis, compared to the 21.14 percent recorded in April 2023.
On a month-on-month basis, the bureau said the rural inflation rate in April was 1.92 percent, falling below the 2.87 percent reported in March.
PRICES OF BREAD, GARRI DRIVE FOOD INFLATION RATE UP
NBS said food inflation rose to 40.53 percent in April, compared to the 24.61 percent reported in the same month last year — indicating an increase of 15.92 percent points.
The bureau said millet flour, garri, bread, wheat flour prepacked, semovita, coconut oil, palm kernel oil, vegetable oil, yam tuber, water yam, and cocoyam, contributed to the year-on-year increase in the food inflation rate.
Other contributors are dried fish Sadine, catfish dried, mudfish dried, beef head, beef feet, liver, frozen
chicken, mongo, banana, grapefruit, Lipton tea, Bournvita, and Milo.
However, on a month-on-month basis, NBS said the “food inflation rate in April 2024 was 2.50%, which shows a 1.11% decrease compared to the rate recorded in March 2024 (3.62%)”.
NBS said the fall in food inflation on a month-on-month basis was caused by a decline in the rate of increase in the average prices of Yam, Water Yam, Irish Potatoes (under Potatoes, Yam & Other Tubers
Class), Beer, Local Beer (under Tobacco Class), Milo, Bournvita, Nescafe (under Coffee, Tea, and Coco Class), Groundnut Oil, Palm Oil (under Oil and Fats Class)”.
Other food items mentioned are egg, fresh milk, powered milk, tin milk, soft drinks, Malt Guinness, Coco-cola, Spirit (Local Production), Chelsea, Seaman Schnapps, wine and fruit, water melon, pineapple, banana, and pawpaw.
The Federal Executive Council after a marathon meeting presided over by President Bola Tinubu on Tuesday rolled out 21 major policy initiatives.
The President’s Adviser on Media and Publicity, Mr Bayo Onanuga, in a post on his X handle, formerly Twitter, listed the initiatives as a 48-hour visa policy, cancelling of airport toll payment exemption for very important persons and ban on sand dredging 10 kilometres from all federal bridges throughout the country among others.
The FEC meeting, which started on Monday was concluded on Tuesday in what experts have described as unprecedented in the history of the council.
After exhaustive deliberations, the council approved several policies and projects that would further boost the economy, facilitate investments and promote the ease of doing business in the country.
Briefing the State House correspondents on Tuesday after the FEC meeting at Aso Rock Villa Abuja on Minister of Information and National Orientation, Mohammed Idris, said the Federal Government was reviewing its visa regime to enable persons who wish to invest in Nigeria to obtain a visa within 48 hours.
Idris stated that the visa policy was one of the several resolutions of FEC, adding that it was aimed at encouraging investors and tourists.
According to him, the visa policy review is necessary to foster ease of doing business on Nigerian soil.
Since assuming office in May 2023, the Bola Tinubu administration has actively pursued foreign investment opportunities through a series of strategic international engagements and high-level meetings aimed at boosting Nigeria’s economic profile.
Briefing journalists after the FEC meeting on Tuesday, the information minister said a tripartite committee had been created to review the visa issuance process.
Idris said, “Now, the Federal Executive Council has noted that our visa processes are becoming cumbersome and this is not encouraging investors to come in easily because, as the President has indicated, the ease of doing business is also tied to the ease of visa application.
“Therefore, the FEC has set up a committee to look at our visa processes to reduce the cumbersome nature of these visa processes, meaning that those investors or tourists who want to come into Nigeria will find it a lot easier to go into this country provided they follow all the laid down processes.
e-visa platform
“This includes the e-visa platform, which has already been discussed. The Federal Government is also mulling the idea of every visa application being processed within the next 48 hours.”
Nigeria’s e-visa process is part of a broader effort to streamline and modernise the country’s visa system, as outlined in the Nigeria Visa Policy (NVP) 2020.
The e-visa system allows visiting non-Nigerians to apply online. Applicants must complete an electronic application form, upload necessary documents, and pay the required fees.
Such e-visas available include the Short Visit Visa for business, which allows for a maximum stay of 90 days, and various investor visas that cater to different scales of investment from small to ultra-large enterprises.
However, the system has been plagued by inefficiencies, making the process cumbersome due to several factors. Applicants often face difficulties fulfilling documentation requirements and dealing with occasional technical hitches on the application portal.
More so, the need for detailed documentation, such as letters of invitation, evidence of sufficient funds, and investment proofs, adds to the complexity. The process also requires pre-approval via an electronic travel authorisation letter, which must be printed and presented upon arrival.
Though designed to ensure security and proper vetting, they have been time-consuming and challenging for users.
N10bn airport tolls
Meanwhile, the Federal Government has said it will generate at least N10bn annually from airport access tolls.
The Minister of Aviation and Aerospace Development, Mr Festus Keyamo, who disclosed this while briefing State House correspondents after the FEC meeting, also said the council approved a memorandum from the ministry scrapping toll exemptions for all very important persons and government officials using airports nationwide.
Tuesday’s decision would see President Bola Tinubu and Vice President Kashim Shettima, who were earlier exempted, paying airport access toll and parking fees.
Keyamo said the government’s rationale was to stop the revenue haemorrhage, denying the Federal Airports Authority of Nigeria the much-needed means to maintain the facilities and provide quality services to users.
He argued that the government lost over 82 per cent of the money it would have generated from e-tags sold to VIPs and government officials for easy airport access.
The memoranda initially recommended an exemption for the President and the vice president. However, Tinubu, who chairs the Council, overruled this, insisting that he and the VP, alongside their aides, must pay tolls.
“How much are we expecting? It runs into billions. We are looking at raising at least N10bn annually. This is a very big one for us (Federal Government). And we will market the e-tags so that VIPS will buy into it,” said Keyamo when asked about specifics.
He explained, “When we came to office, we met a tradition on the ground where at the end of the year, all manners of VIPs would approach us for what they call complimentary e-tags or complimentary stickers. They don’t pay airport access fees, parking, or essential services.
“The negative figure we get at the end of the day from the complimentary e-tags is -82 per cent. In other words, we end up selling only 18 per cent of e-tages. Imagine the loss! I told myself and my team, not under my watch. It is inconceivable that the VIPs don’t pay for services, but the poor pay.
“Our memo says with the exception of the President and the Vice President. But the President overruled me and said he and the Vice President would pay. He said everybody must pay.”
Enacted in 1995, the FAAN Act (Part IV) empowers the airport authority to levy and collect various charges from various categories of airport users to support the maintenance and development of airport infrastructure.
He added that a percentage rebate was being considered for service veterans.
The minister also vowed to ensure compliance, saying, “I will breathe down on the regulators. I must direct them to do what the law says diligently. I will ensure that they don’t water. down the regulatory measures.”
He said toll collection officers at the airport gates would no longer be bullied into granting access to uniform officers who refuse to pay. He assured them that more cameras would be “planted” in strategic positions to capture and expose any acts of harassment.
Regarding his alleged interference in the operations of airlines, especially as it concerns the closure of Dana Airlines, Keyamo noted that he would “continue to interfere to save lives until he leaves office.”
In a related development, the FEC approved a memorandum seeking N4.2bn for the maintenance and supply of aircraft recovery equipment.
Keyamo said the equipment would be used at the Murtala Mohammed International Airport Lagos and was designed to respond to occasions of aircraft breakdown on runways.
Apart from the initiative on the airports, the FEC also approved a N2tn mortgage initiative and banned sand-dredging 10km from federal bridges.
The council also approved a N51bn transport terminal hub in Abuja. It added that $7m US property would become Nigeria’s tech hub.
FEC also approved a new revenue platform for gaming and lottery businesses as well as N546bn for roads in Lagos, Kwara, Edo, Kebbi and Sokoto.
N72bn transmission lines
Meanwhile, the Federal Government also approved about N72bn for the construction of a new transmission line and emergency restoration systems for other transmission lines to enable quick repair of vandalised and damaged power infrastructure.
This came as the Federal Government also defended the Lagos-Ibadan Coastal Highway project, saying the project which would enhance growth and development followed due process.
Approved N72bn project includes the first is a 93-kilometer transmission line at Oji River/9th Mile for the 132 KV double circuit transmission line, costing $33.9m (N50.93bn) and N10.1m.
The second is for the supply and installation of 15 units of emergency restoration systems costing $14m (N21.04bn) for 330 KV and 132 KV transmission lines. The system will expedite the repair of damaged power infrastructure.
Nigeria’s Minister of Power, Adebayo Adelabu, revealed this to journalists at the State House as some of the approvals he secured at Tuesday’s Federal Executive Council meeting.
He explained that the emergency restoration system is a response to the impact of vandalism on power transmission assets, particularly in the Northeast, where there has been a blackout for the past weeks due to vandalism.
“We are aware of what is happening in the Northeast today in the last two to three weeks. There have been blackouts because of vandalisation activities. The Transmission Company of Nigeria has been trying to ensure that they fix these vandalised assets and we hope that before the end of the month, we should be able to return normalcy to the power situation in the Northeast.
“This emergency ratio restoration system will enable us to fix all the vandalised and damaged power infrastructure across the country.
“This was brought about by the impact of vandalisation across the country in terms of power transmission assets to ensure that the students enjoy 24/7 uninterrupted power supply,” Adelabu explained.
The power minister also noted that the new 93km transmission line will stabilise the national grid and expand its capacity, in line with the national grid expansion plan and the Presidential Power Initiative to increase its end-to-end capacity.
Monday’s approval also includes the procurement of 10 transformers and 10 reactors for the Transmission Company of Nigeria at a total cost of $4.8m (N7.2bn) and N102m, saying this will enhance the optimal performance of the national grid, reduce the risk of electric shock and equipment damage, and protect personnel from the effects of high voltage.
The Federal Government also appealed to Organised Labour not to derail the transformation plan for the power sector, saying to achieve the desired service the current sacrifice is required.
Adelabu also assured Labour that their demands made during their nationwide protest on Monday were being considered.
On Monday, leaders of the Nigerian Labour Congress and the Trade Union Congress of Nigeria led their members in peaceful protest in different parts of the country, picketing the activities of agencies and institutions under the Power Ministry, demanding the reversal of the recent increase in electricity tariff.
However, reacting to the demands by the Labour unions, Adelabu noted that the federal government had noted their grievances, received their demands and would be engaging further with them, emphasising that President Bola Tinubu’s administration is a listening government.
He said, “It’s the right of the Labour to protest peacefully and to come up with their demands, from the perspective they saw what we did. It is allowed, it is legitimate and it is understandable
“Let me make that clear. President Bola Tinubu’s administration is also a listening government. We have heard demands, we’re going to look at it, we’ll make further engagements and I believe we’re going to reach a peaceful resolution with the labour.
“My appeal again is that they should please not derail or distract our transformation plan for the industry. We have a documented reform roadmap to take us to our desired destination, where we’re going to have reliable, functional, cost-effective and affordable electricity in Nigeria. It cannot be achieved overnight because this is a decay of almost 60 years, which we are trying to correct.
“Nobody promised us or assured us that the road will be smooth. We knew it was going to be rough, but we must weather the storm, which is going to be temporary. It’s a lot of sacrifice from everybody; from the government’s side, from the people’s side, from the private sector side. So we must bear this sacrifice for us to have a permanent gain.”
Meanwhile, the FG has revealed plans to tap into local funds such as pension and life insurance to develop infrastructure in the country.
The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, disclosed this while briefing correspondents saying that there are over N20tn of such funds available in the country.
He said the fund would go into infrastructure such as housing and providing long-term mortgages.
He explained, “Nigeria is resilient, Nigerians are resilient. The fact is that even before we start looking to foreign investors, we start looking to foreign funding, there are available in Nigeria, long-term funds to fund infrastructure projects, and it’s within the pension, life insurance and investment fund industry generally.
“There is upwards of N20tn available, and much of it is in short-term funding that doesn’t need to be. Pension money is long-term.
“People save over their lifetime for their pension. And so in conversation, in consultation, collaboration and cooperation with the private sector, we are now able to announce and with the full knowledge and support of all parties, that there will be an initiative to fund growth through investment in infrastructure, including housing, provision of mortgages, long term mortgages, 25-year mortgages at relatively low interest rates.
He noted that, initially, the government would stand back and provide some support, particularly in the era of high interest rates but will lessen its involvement as interest rates stabilise.
“On the supply side, construction of houses will be funded. On the demand side mortgages will be made available so that those constructing houses have an outlet and Nigerians who are saving so much by way of pension funds, have the bonus of access to affordable mortgages.
“That is the long and short of this initiative and you also as much as anybody else can understand and see what it means in the construction industry to do for the country.
“That is the plan, that is the target that is the hope. And in this particular case, you have the best and the brightest that Nigeria has to offer, putting their minds together and committing to achieving the goals,” he said.
Edun spoke against the backdrop of what he said in the context of President Bola Tinubu’s macroeconomic reforms, “which are necessary and could not be delayed a moment longer.”
The Federal Executive Council presided over by President Bola Tinubu, on Tuesday approved N96,297,056,103bn for the development of bus terminals and other transportation facilities in the nation’s capital, Abuja.
The amount also covers the award of contract to Masssr Planet Project Limited for the construction of the Court of Appeal, Abuja Division, contract for the provision of Security operation and maintenance of back-up generator for the street lights along the Presidential routes and Villa Gate 8 in the Federal Capital City, as well as the upgrade roads in Kwali Area Council.
Minister of State for the FCT, Mrs Mariya Mahmood, also disclosed this while briefing State House correspondents at the end of the FEC meeting.
She explained that all the due process for the procurement procedure has already been followed and the certificate of no-objection has been obtained for the contracts.
According to her, “The first approval is for the award of contract for the development of bus terminal and other transportation facilities in the Capital territory. Secondly, is approval for the award of contract for the construction of the Court of Appeal Abuja division.
“And number three is approval for the award of contracts for the provision of security operations and maintenance of backup generators for the streetlights along presidential routes and villa gate 8, the federal capital city.
“And lastly, the fourth one is for the upgrading of Koita-Igbu in Kwali Area Council. All the necessary due process for the procurement procedure has been followed. And a certificate of no objection has been obtained for all the awarded approved contracts.”
Breaking down the figures, the Minister said “ I do have costs and contractors. The first one for the first time was awarded at a cost of N51,025,172,424.90 and it was awarded in favour of Messrs Planet Project Limited.
“Then the second one is in favour of Visible Construction Limited at the cost of N37,259,513,881.14 and the upgrading of Kwali-Ibu is at N7.6 billion in favour of El Emad Nigeria Limited. For the generator and also the security there are two things attached to that memo.
“The issue of security operation and maintenance of the backup generator and it’s at the cost of N412,352,800 million. It was awarded to Messiah Contract People Limited.”
Three commissioners serving in the cabinet of Governor Siminalayi Fubara have resigned from the Rivers State Executive Council.
The commissioners are Prof. Chinedu Mmom (Education), Dr. Gift Worlu (Housing), and Austen Ben-Chioma (Environment), who are all loyal to the Minister of the Federal Capital Territory, Nyesom Wike.
They were among the nine commissioners who had previously resigned in the heat of the political crisis in the state before the intervention of President Bola Tinubu.
Their resignations came 24 hours after Fubara slammed his predecessor and estranged his political godfather, accusing him of leaving a huge debt burden for him.
The three commissioners tendered their resignations in separate letters addressed to the governor through the Secretary to the State Government, Dr Tammy Danagogo.
Mmom’s letter read, “I write to formally tender my resignation as a member of the Rivers State Executive Council as the Commissioner for Education with effect from today, May 15, 2024.
“It is a truism that a calm, safe, and friendly environment would stimulate efficient service delivery and enhanced productivity. It is, however, unfortunate to note that my current workspace has become toxic and no longer guarantees a favourable environment to enable me to realise my set targets for the education sector in the state.
“There is loss of trust, animosity and sharp division among colleagues in the same cabinet which is unhealthy and very unfortunate. I want to thank Your Excellency for the opportunity to serve in your cabinet and wish your administration well.”
Moments later, Ben-Chioma forwarded his letter dated same May 15. He noted that his reason for resigning is because of the political crisis in the state.
His letter read, “I hereby tender my resignation as the Commissioner for Environment, Rivers State, on this day, May 15, 2024.
“I want to sincerely appreciate Your Excellency for giving me the opportunity to be a part of the State Executive Council. My decision to resign is due to the political crisis befalling our dear Rivers State and other personal reasons.
“It was a privilege to have been of service to you in your administration and wish you all the best in your tenure.”
Similarly, Worlu in his letter dated May 15, said, “I write to resign my appointment as the Commissioner for Housing formally. One of the most difficult decisions in my life yet, it is precipitated by the toxic atmosphere that has characterised our working relationship, especially the smouldering arbitrariness of decisions and actions, including the attempt to fuse the executive and legislative arms of government in Rivers State.
“I thank you for the opportunity to serve in your government and wish you the best as you continue to steer the ship of state. Kindly accept the assurances of my esteemed regards.”
Before the trio of Mmom, Worlu, and Ben-Chioma, others who resigned were the former Attorney-General and Commissioner for Justice, Prof Zacchaeus Adangor, and former Commissioner for Finance, Isaac Kamalu.
Adangor and Kamalu resigned after Fubara directed that they should be redeployed to the Ministry of Special Duties (Governor’s Office) and Ministry for Employment Generation and Empowerment, respectively.
The Federal Executive Council has given the green light for the equalisation of the Okpella section of the Lokoja-Benin road and other projects totalling N120 billion.
The funding for these projects will be provided by BUA Cement Plc under the tax credit scheme.
This decision was reached during a lengthy meeting chaired by President Bola Tinubu on Tuesday, during which 21 significant policy initiatives were unveiled.
The approved policies and projects were contained in a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Tuesday.
He said, “On Day 2 of the FEC meeting, approval was given for the award of contract for the equalisation of Lokoja-Benin Road, Okpela Section, Lokoja-Benin, Dualised Auchi Section -Uromi Link Road and Lokoja-Benin Road, Ekpoma Section.”
“It was on this road that a fuel tanker fell into high water recently, with villagers having to swim to rescue the occupants of the tanker. The reconstruction will be financed by BUA Cement at a cost of N120 Billion under the tax credit scheme.”
The tax credit scheme enables private companies to fund road projects, alleviating the financial burden on the Federal Government.
In exchange, these companies receive tax credits equivalent to their expenditure on the roads.
Onanuga also revealed the approval of contracts for various road projects nationwide, including the Kaima-Tesse road in Kwara State, the Benin-Agbor road, the Benin Bypass, and the Ngaski-Wara road in Kebbi State.
These projects are anticipated to amount to approximately N546bn.
A contract worth N230 billion was sanctioned for Messrs CCECC to construct a bypass in Kano. The project is slated for completion within the next 36 months.
The FEC meeting, which commenced on Monday, concluded on Tuesday, marking an unprecedented duration in the history of the council.
Following extensive deliberations, the council sanctioned several policies and projects aimed at bolstering the economy, encouraging investments, and enhancing the ease of doing business in the country.
The embattled former Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, on Wednesday, pleaded not guilty to the allegation that he unlawfully printed Naira Notes while he held sway at the apex bank.
The Economic and Financial Crimes Commission, EFCC, alleged that Emefiele had without authorization from former President Muhammadu Buhari, printed N684million Notes with the total sum of N18.96billion.
Besides, the anti-graft agency accused the former CBN boss of unlawfully approving the withdrawal of about N124.8bn from the consolidated revenue fund.
According to the EFCC, the defendant, acting in violation of law and “with intent to cause injury to the public,” okayed the printing of naira notes without the approval of both former President Buhari and the board of the CBN.
However, when the four-count charge was read to the defendant before trial Justice Maryann Anenih of the High Court of the Federal Capital Territory, FCT, he pleaded his innocence to the allegation.
While the prosecution counsel, Mr. Rotimi Oyedepo, SAN, requested for a date for the commencement of full hearing in the matter, the defendant, through his team of lawyers led by Mr. Mahmud Magaji, prayed the court to allow him to go home on bail, pending the determination of the case against him.
Magaji, SAN, urged the court to either grant his client bail on self recognition, or to adopt previous conditions that were handed to him by Justice Hamza Muazu, who is presiding over another charge that is pending against him before the same high court.
He assured that his client would always be available to attend his trial, noting that the charge contained bailable offences.
In her ruling, Justice Anenih said she was minded to accede to the defendant’s request for bail.
Consequently, she granted him bail to the tune of N300m, with two sureties in the like sum.
The court maintained that the sureties must not only be resident in Nigeria, but owners of landed properties within the Maitama district of Abuja.
More so, the court stressed that the sureties must deposit an affidavit of means, even as it ordered the defendant to surrender his international passport.
The court warned that the former CBN Governor must not travel out of the country without permission.
It held that he should be remanded at Kuje prison, pending the perfection of all the bail conditions.
The case was subsequently adjourned to May 28 and 29 for the commencement of trial.
Specifically, the charge against the former CBN Governor, read: “That you Godwin Ifeanyi Emefiele, between the 19th day of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by approving the printing of N375,520,000.00 pieces of colour swapped N1, 000, at the total cost of N11,052, 068,062 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.
“That you, Godwin Ifeanyi Emefiele, between the 19th of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the Central Bank of Nigeria Act, 2007, by approving the printing of 172,000,000 pieces of colour swapped N500 (Five Hundred Naira) Notes, at the total cost of N4, 471,066,040 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.
“That you Godwin Ifeanyi Emefiele, between the 19th day of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by approving the printing of 137,070,000 pieces of colour swapped N200 (Two Hundred Naira) Note, at the total cost of N3, 441, 005, 280 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.
“That you, Godwin Ifeanyi Emefiele, on or about the 7th day of October 2020, in Abuja, within the jurisdiction of this Honorable Court, knowingly disobeyed the direction of Section 80 of the Constitution of the Federal Republic of Nigeria, 1999 (As Amended), by approving the withdrawal of the total sum of N124, 860, 227, 865.16 from the Consolidated Revenue Fund of the Federation in a manner not prescribed by the National Assembly, which conduct of yours caused injury to the public and you thereby committed an offence.”
It will be recalled that President Bola Tinubu had on June 9, 2023, suspended Emefiele from office as the head of the apex bank.
He was later arrested at his Lagos residence by DSS operatives.
The former CBN boss was subsequently transferred to the custody of the EFCC, which on November 28, 2023, docked him on a six-count charge that bordered on his alleged involvement in procurement fraud.
Though Emefiele, who initially spent 151 days in custody of security agencies, was later granted bail to the tune of N300million and ordered to produce two sureties that the trial court stressed must be Abuja residents that have landed property within the Maitama District, the defendant could not perfect the conditions till December 23, 2023, when he was released from Kuje prison where he spent about 34 days.
The defendant had since then, faced various charges, both in Abuja and Lagos.
Federal Capital Territory Administration (FCTA) through the Department of Development Control has served 24-hour demolition notices to operators of illegal market shanties in the Karmo and Dei Dei Road corridor. The exercise will affect 500 structures that have been marked for demolition.
The sector monitor and assistant director in the department, Mr Garba Jibril, who led the exercise yesterday, said the affected owners had been served with several notices and that the director of development control, Mr Mukhtar Galadima, had held a sensitisation meeting with the stakeholders.
He explained that demolishing the illegal structures was necessary because they constituted a nuisance on the road in addition to heavy traffic, especially on their market days, and that their activities were equally emitting environmental hazards, which the FCT administration frowns at.
The team leader also disclosed that the FCTA had awarded a contract for the Life Camp – Dei-Dei Road construction, saying that the traders’ continuous stay on the road corridor prevented the contractors from moving to the site.
According to him, the 24-hour notice is not to be played with and those who refused to comply will have themselves to blame.
He also said that the traders had been asked to move to the designated market called Karmo Market, adding that the market was fully developed and equipped with necessary facilities.
“But the traders have been reluctant to move. We have had several meetings with the relevant stakeholders including traditional leaders in the area to get them to move but they remained adamant.
“We equally held a meeting with the traders and the new market operators, who promised to give the traders some incentives to accommodate them in the informal and main shops.
“We are hoping that after the demolition, there will be a successful relocation from the road corridor to the main market. This will not only maintain a serene environment but also ensure free flow of traffic in the area,” he said.
The federal government has unveiled a strategic plan to harness the N20 trillion pension fund and other locally available resources for infrastructure development in Nigeria.
Wale Edun, coordinating minister for the economy and minister of finance, disclosed this at the end of the federal executive council (FEC) meeting chaired by President Bola Tinubu.
Edun said the government is focused on tapping into domestic financial resources, particularly pension and life insurance funds, to leverage local funds for national growth.
He added that it was a significant step towards driving economic progress and addressing critical infrastructure needs.
According to Edun, with over N20 trillion available funds within the country, there is a clear opportunity to channel these resources into vital sectors such as housing and long-term mortgage provision.
The minister said the move is part of the government’s efforts to bridge Nigeria’s estimated 20 million housing deficits and to provide massive housing and mortgage loans at 12 percent interest rates, with 25-year repayment plans.
“And the fact is that even before we start looking to foreign investors, we start looking to foreign funding, there is available in Nigeria, long term funds to fund infrastructure projects, and it’s within the pension, the life insurance and investment fund industry generally,” he said.
“There is upwards of N20 trillion available, and much of it is in short-term funding that doesn’t need to be. Pension money is long-term.
“People save over their lifetime for their pension. And so in conversation, in consultation, collaboration and cooperation with the private sector, we are now able to announce and with the full knowledge and support of all parties, that there will be an initiative to fund growth through investment in infrastructure, including housing, provision of mortgages, long term mortgages, 25-year mortgages at relatively low interest rates.
“Initially, of course, the government will stand back and provide some support, particularly in this era of high interest rates but eventually as interest rates come down, there should be less role for the government through providing, for example, guarantees and so forth.
“So, we can look forward to these huge funds being leveraged with the expertise, the ability, the capacity of the private sector, partnering with the government to drive economic growth.
“On the supply side, construction of houses will be funded. On the demand side, mortgages will be made available so that those constructing houses have an outlet and Nigerians who are saving so much by way of pension funds, have the added bonus of access to affordable mortgages.
“That really is the long and short of this initiative and you also as much as anybody else can understand and see what it means in the construction industry to do for the country.
“That is the plan, that is the target that is the hope. And in this particular case, you have the best and the brightest that Nigeria has to offer, putting their minds together and committing to achieve their goals.”
TINUBU’S REFORMS ARE NECESSARY AND YIELDING RESULTS
Edun said Tinubu’s macroeconomic reforms are necessary and could not be delayed a moment longer.
According to the minister, the reforms are beginning to yield the desired results.
“They were already delayed. Those reforms which are still in process, and which are beginning to give benefits in various areas, particularly in terms of trying to stabilise the economy, the exchange rate, bring inflation down, and eventually get interest rates down,” he said.
“But on the other hand, Mr. President has been consistent and he has also been commended, I must say, both around the world for for the fact that he is committed to intervening on behalf of the poor and the vulnerable in order to ease the pains of this necessary reform. But at the same time, given where we are in terms of stabilisation, it is time to focus on economic growth.
“And one of the key drivers of economic growth is investment in infrastructure, in housing, power, rail, roads, water transport, even technology. These are key drivers of economic growth.
“They increase product. When you invest in them, you get increased productivity, you get economic growth, and you get job creation, which reduces poverty, and that is the strategy.
“So, it’s two-pronged and we are not pivoting towards this all-important growth and you say where will the resources come from?”
The minister said the president approved the purchase of compressed natural gas (CNG) powered vehicles for the Nigeria Customs Service (NCS).
Edun also said about 600 CNG-powered buses and about 30,000 conversion kits will soon be made available to reduce transportation costs.
Mahmud Albarnawy, the eldest son of the founder of the Islamic States of West African Province (ISWAP), has reportedly surrendered to operatives of the Nigerian Security and Civil Defence Corps (NSCDC) in Borno.
Zagazola Makama, a counter-insurgency publication focused on the Lake Chad region, said Mahmud surrendered to the security operatives on May 12.
Intelligent sources told Makama that 22-year-old Mahmud was confirmed to be the son of Maman Nur, founder of the ISWAP, after he was profiled at the NSCDC headquarters in Maiduguri, Borno capital.
The publication said an uncle of Mahmud in Gamboru Ngala encouraged him to surrender after he received information about his readiness to abandon the group.
“A reliable agent was sent to convey him to Maiduguri. They arrived in Maiduguri on May 11 at about 1 pm,” the publication said.
“Mahmud was later debriefed and profiled by an intelligence officer of the command, where he confessed to having sneaked out of the Ali Ngulde camp in Mandara Mountain, Gwoza LGA, into Maiduguri and stayed for about a month at Gwange in the city capital before relocating to Gamboru Ngala without any alarm or distress signs from communities.
“During his stay in Gamboru Ngala, some of his late father’s loyalists were persuading him to return to the Lake Chad general area to pay allegiance to ISWAP, but he refused, citing the betrayal and eventual execution of his late father.”
Makama said Mahmud confessed to having been involved in attacks launched at Bama, Banki, Gwoza, and many other areas in Borno.
The publication said the terrorist who surrendered used to work as a middle-rank fighter under the Boko Haram group.
The publication added that he had been handed over to the Bulunkutu rehabilitation facility for further documentation and custody.
More...
Opposition In African Languages Means ‘Enemy,’ Not ‘Loyal’ As In Western Democracies - Obasanjo
AFOLABI
Advocates For ‘Afro-Democracy’ As Alternative To Western System”
Former President Olusegun Obasanjo has said African countries including Nigeria made a mistake by adopting the western liberal democracy.
Mr Obasanjo stated this on Monday when members of the House of Representatives championing the reintroduction of the parliamentary system of government in the country, met with him in Abuja.
The lawmakers, under the aegis of the “Parliamentary Group” led by the Minority Leader of the House of Representatives, Kingsley Chinda (PDP, Rivers), met with Mr Obasanjo at the Shehu Yar’Adua Centre in the federal capital.
The meeting was part of their advocacy visits to prominent Nigerians to solicit their support for the transitioning of the country from the current presidential system of government to the parliamentary system.
Coincidentally, Mr Obasanjo, Nigeria’s military head of state from 1976-1979, midwifed the 1979 Constitution that produced the American presidential system which replaced the parliamentary system practised in the first republic.
He was subsequently elected president in 1999 after the return of democracy and was in office for eight years.
Speaking on the state of democracy in Africa, Mr Obasanjo said countries in the continent made the mistake of adopting the western liberal democracy prescribed by the Europeans, stating that the Western liberal democracy is not consistent with the African value system.
“Let me go back to the beginning where we got it wrong—the western liberal democracy, that is what the Europeans have. When you look at the western liberal democracy, it is a product of their history, a product of their culture, a product of their way of life.
“I have looked into most African languages, western democracy has what they call loyal opposition. What is opposition in African languages? Enemy. Western democracies called oppositions “loyal” because the oppositions are loyal to the monarchy. That’s where their loyal democracy began. They used to have monarchies.
“There is nothing in the liberal democracy that is African. We ruled ourselves before the advent of colonialism. We had empires and striving kingdoms. We did not rule ourselves as opposition.
“What is in it for us? I don’t know but you can give it. For lack of an appropriate word, let us call it ‘afro-democracy.’ That is where we have to begin,” Mr Obasanjo said.
On the proposal by the lawmakers, Mr Obasanjo said the legislators are preaching to a convert, stating that he agreed that there is a need for a fundamental shift from the current system.
He, however, warned the lawmakers that they need to have a long-term plan and be tactical in presenting a position.
The former president counselled the lawmakers to drop the tag “parliamentary system”, and should instead push for a homegrown democracy.
“You are preaching to the converted but as I have said, take parliamentary away.
“We need to get the critical masses. Parliamentary and all that—once you start that, you have gotten it wrong. Once you do that, you are putting yourself in a fix because there are those who would say “We don’t want parliamentary,” he said.
Earlier in his opening remarks, Mr Chinda said the use of the word “parliamentary” is due to a lack of a suitable word.
He said the system proposed by the lawmakers is “homegrown” and not the textbook definition of the parliamentary system.
Also speaking project, the spokesperson of the group, Abdulsamad Dasuki (PDP, Sokoto), said the group is organising a national dialogue on the project.
According to the lawmaker, the dialogue is scheduled for 1 July.
The push by the lawmakers, known as the Parliamentary Group, pushing for the transition to a parliamentary system of government.
Nigeria operated under the parliamentary system pre-independence and in the First Republic. However, the coup of 15 January 1966 truncated that republic.
The military suspended the civil government and ruled the country until the transition to democracy in 1979. The Second Republic was built on the 1979 Constitution which prescribed the presidential system.
The proposal by the lawmakers is seeking to revert to the First Republic system with a prime minister, a member of parliament, serving as the head of government, similar to the British system.
In a parliamentary system, the executive branch derives its legitimacy and authority from the legislative branch. The head of government (often the prime minister) is typically a member of the legislature and is accountable to it. This system fosters a close relationship between the executive and legislative branches, allowing for efficient decision-making and policy implementation.
The lawmakers have already sponsored some constitution alteration bills to make the changes in the constitution. However, the timeline for the change is beyond this current Assembly. They have set a target of 2031 as the timeline for achieving the goal.
In the past couple of months, the lawmakers have been moving around the country meeting politicians who served in the Second and Third Republics.
They have met with the Chairman of Northern Elders Forum (NEF), Ango Abdullahi, the Interim National Chairman of APC, Bisi Akande, Sanusi Dantata and others.
Speaker Abbas Vows To Bring Binance’s Blackmailers To Justice Over $140 Million Bribery Scandal
AFOLABI
The Speaker of the House of Representatives, Hon. Tajudeen Abbas, on Tuesday, vowed that the 10th Assembly will ensure that those behind the blackmailing over the $140 million bribery scandal are brought to book.
Speaker Abbas issued the threat notice during the press briefing in Abuja held at the instance of the House Committee on Financial Crimes chaired by Hon. Ginger Obinna, who made public the 3-page Committee’s “report into the Binance Holdings Limited’s illegal operations in Nigeria and recommendations,” dated May 13th, 2024.
The Speaker, who was represented by the Chairman, House Committee on Monitoring, Evaluation and Implementation of the Legislative Agenda, Hon. Patrick Umoh, reiterated his stance to protect the integrity of the House, just as he assured Hon. Obinna of the House’s resolve to ensure that he comes out clean.
He said: “We are here on the mandate of the honourable speaker to one, monitor proceedings and protect the image of the 10th House of Representatives. That’s why we are here Mr. Chairman.
“And we are part and parcel of what you are doing because we are all very interested in the credibility of the 10th House of Representatives and we also have to ensure that Nigerians know the truth.
“This is the people’s House and as far as I’m concerned, as far as 10th House of Representatives is concerned, anti-corruption is a core mandate of our committee when it comes to monitoring and evaluation of our agenda.
“It is with dismay that we have observed the trend where the 10th House of Representatives has been blackmailed by individuals, corporate organizations, some organizations who are themselves not known to law, coming to blackmail the Committee on anti-corruption.
“So, the House notes with dismay, the House is worried, the House is uncomfortable that when negative news trends we should also be interested in what is the truth. We are here elected by the people of Nigeria to represent this country and to ensure that we make laws for the good governance of our country Nigeria.
“And the best, the only compliment that we should enjoy from Nigerians is that encouragement. So, Nigerians particularly members of the National Assembly should be interested when we hear of these blackmails, this trending news, the negative news, unprintable things said about the 10th House of Representatives.
“Mr. Chairman, we can vouch for your integrity, which is why you are appointed to chair the anti-corruption of financial crimes Committee of the House. So, be rest assured that we will stand by you and we would defend you because we know you. You have worked with us and we have worked with you to protect the collective integrity of the 10th House of Representatives.
“So, Mr. Chairman let us assure you as a committee that we are interested in this matter and we will ensure that you come out clean because we know you are clean, you are responsible.
“For all reliefs, decisions the Committee has taken we would partner with this Committee to ensure that those involved, those concerns pay for it. They will be brought to justice because liability has to be attached to every action, particularly negative action that is projected at bringing down the integrity of the 10th House of Representatives.”
Speaking earlier, Hon. Obinna, who denied the $140 million bribery allegation, challenged the promoters of the allegation to unveil the “unknown persons” who approached Binance employees and suggested to them to make a payment in settlement of the allegations.
He said: “Following formal communications between the Committee and Binance, 10th January 2024 was agreed upon by the parties as a convenient date for a Public Hearing on the matter. Subsequently and before the agreed date, Binance through their Counsel reached out to the Committee to request for a pre-hearing meeting to give them deeper insight into the allegations against them which will assist them in preparing for the Public Hearing. The Committee approved the request of the Binance team and scheduled the pre-hearing meeting for the 8th day of January 2024 at the National Assembly Complex.
“On the 8th day of January 2024, the Committee represented by three of its members and its Clerk led by Hon. (Chief) Peter Akpanke (Obudu/Bekwarra/Obanliku Federal Constituency), met with a six-member team representing Binance. Detailed facts on the allegations against Binance as contained in the aforesaid.
“Petitions were made available to the Binance team to assist them in preparing for the Public Hearing scheduled for the 10th day of January 2024. The meeting was open, transparent and ended on a cordial note. No solicitation or demands of any type was made by representatives of the Committee to Binance at the meeting.”
According to him, “in order to pull the wool over the eyes of Nigerians and the general public with the view to draw away the attention of the world from its unlawful refusal to appear at a legitimate and Constitutional Parliamentary Public Hearing to answer to allegations of criminal and fraudulent activities, Binance belatedly came up with fabricated, false and malicious allegations of solicitations for bribes by the Committee. The allegations are totally false and unfounded.
“The Committee wishes to emphasize that all interactions with Binance were formal, open and transparent. The Committee never met with the Binance team outside the National Assembly nor did the Committee delegate any individual or entity to meet with the Binance Team on its behalf for any purpose.
“It should also be noted that the Committee formally communicated the Federal Inland Revenue Services (FIRS) to ascertain the tax liabilities of Binance. No amount in figures was conveyed to the Committee as per the extant tax default by Binance.
“Although Binance has refused neglected and/or failed to appear before the Public Hearing scheduled by the Committee, the Committee has proceeded with its investigations which have so far revealed prima facie incidents of unlawful infractions by Binance, among which are:
(a) Tax evasion having operated illegally in Nigeria, generating Billions of dollars in profits with zero tax remittance; (b) Providing a platform for money laundering activities and illegal transfer of funds to foreign shores; (c) Providing a platform for terrorism financing, enabling terrorists and enemies of the Nigerian State receive ransoms without trace thus facilitating purchase of sophisticated arms and weapons.
“(d) Adversely manipulating the Nigerian Forex space which led to a sharp spike in the price of foreign currencies against the Naira.
“(e) Operating outside the regulations of the Securities and Exchange Commission (SEC).”
While dismissing the allegation, Hon. Obinna assured “all Nigerians of the integrity, transparency and competence of the House of Representatives Committee on Financial Crimes which I have the privilege and honour to chair.
“We refuse to be diminished or deflated by the shenanigans of Binance and other enemies of Nigeria. The Committee will continue with its functions and assignments undeterred. We recognize that the blackmail by Binance is merely an attempt to distract and draw attention away from the serious allegations of criminality against it which is now compounded by its role in the security breach of the sovereign Nigerian State.
“It is notable that it was after it had unlawfully and criminally smuggled Mr Anjarwall out of lawful custody while its purported Head, Financial Crime Compliance (FCC), Mr Tigran Gambaryan had been remanded to pre-trial custody at Kuje Correctional Facility, Abuja on the lawful orders of a Nigerian Court, that Binance on 7 May 2024, belatedly made allegations of solicitation of bribes purportedly made by the Committee on 8 January 2024, after four months.
“The Committee will continue with its legitimate functions as indicated and will update the relevant authorities, the general public and the press as the need arises.”
The Federal Government has asked the organised Labour not to derail its transformation plan for the electricity sector.
The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) had picketed offices of the National Electricity Regulatory Commission (NERC) and Distribution Companies nationwide over the hike in electricity tariff.
The unions had described the upward review, demanding outright cancellation.
Addressing State House correspondents after the Federal Executive Council (FEC) meeting on Tuesday, Minister of Power, Adebayo Adelabu, said labour had the right to protest.
“We cannot stop them from organizing peaceful protest or laying down their demands. Let me make that clear. President Bola Tinubu’s administration is also a listening government.”
“We have heard their demands, we’re going to look at it, we’ll make further engagements and I believe we’re going to reach a peaceful resolution with the labor because no government can succeed without the cooperation, collaboration and partnership with the Labour unions. So we welcome the peaceful protest and I’m happy that it was not a violent protest. They’ve made their positions known and government has taken in their demands and we’re looking at it.
“But one thing that I want to state here is from the statistics of those affected by the hike in tariff, the people on the road yesterday, who embarked on the peaceful protests, more than 95% of them are not affected by the increase in the tariff of electricity. They still enjoy almost 70% government subsidy in the tariff they pay because the average costs of generating, transmitting and distributing electricity is not less than N180 today.
“A lot of them are paying below N60 so they still enjoy government’s subsidy. So when they say we should reverse the recently increased tariff, sincerely it’s not affecting them. That’s one position.
“My appeal again is that they should please not derail or distract our transformation plan for the industry. We have a clearly documented reform roadmap to take us to our desired destination, where we’re going to have reliable, functional, cost-effective and affordable electricity in Nigeria. It cannot be achieved overnight because this is a decay of almost 60 years, which we are trying to correct.”
He said there was the need for sacrifice from everybody, “from the government’s side, from the people’s side, from the private sector side. So we must bear this sacrifice for us to have a permanent gain”.
“I don’t want us to go back to the situation we were in February and March, where we had very low generation. We all felt the impact of this whereby electricity supply was very low and every household, every company, every institution, felt it. From the little reform that we’ve embarked upon since the beginning of April, we have seen the impact that electricity has improved and it can only get better.”
The Labour Party (LP) Presidential Candidate in the 2023 General Election, Mr Peter Obi, said he was the highest beneficiary of Judiciary in the country when there were incorruptible judges.
Obi stated this during the Justice Anthony Aniagolu’s Memorial Lecture organised by the family and hosted by the Godfrey Okoye University (GOUNI), Enugu on Tuesday.
Delivering a lecture on the topic “The Judiciary And The Future of Nigeria”, Obi said he won election in Anambra State and another candidate was declared winner and he approached the court for justice.
“I spent three years in court and it was given to me and after few months I was impeached but judiciary restored me to power. After one year in office, they conducted another election and elected another person.
“But I went to Supreme Court where judges with respect for rule of law reinstated me to complete my tenure.
“All these things happened because there were incorruptible and independent judges,” he said.
The former Anambra Governor, who noted that such jurists were hard to find in the present day Nigeria said, “Our judiciary are weak and compromised by the executive and highest bidder.”
According to him, the future of our society is compromised because independent of the judiciary has been destroyed.
“We need strong judiciary to fight criminality. Rule of law is the foundation in which any society survive and develop and the only thing that makes it sacrosanct is the independent of the judiciary.
“And it is a strong judiciary that makes businesses, investments and democracy to thrive,” Obi said.
He pointed out that Independent National Electoral Commission (INEC), was not the problem of Nigeria but judiciary, whom those denied their rights approached but ended up being disappointed.
Obi explained that institutions were weak because there was no strong judiciary where litigants could report wrongdoings and got desired justice.
Proffering solutions, Obi advocated for independence of judiciary and non interference by the executive, saying “as a governor, I never appointed any judge but left the power to the Chief Judge.
“I bought cars for them but never appointed any judge throughout my tenure”.
Obi, however, extolled Aniagolu for his exemplary life, stressing that he served his country and practiced his law in an exemplary manner.
In a remark, Gov Peter Mbah of Enugu State represented by the state’s Commissioner for Health, Prof Emmanuel Obi, described the lecture as “apt”.
Mbah said that the state had made several laws saying that the government used the instrument of law to create enabling environment for business to thrive.
Earlier in a welcome address, the Vice Chancellor of GOUNI, Prof. Christian Anieke, described Aniagolu as an “erudite jurist and incorruptible judge” who laid foundation for the establishment of GOUNI.
He commended the family for their support and resolve to immortalize him, saying “God will continue to bless you”.
He equally thanked Obi for accepting to deliver the 5th Memorial Lecture on Aniagolu, saying “our choice of you is based on our understanding of the spirited ability you have with Aniagolu.
“You cherished the late Aniagolu’s sacrifices on the alter of legal technicalities.
“You share with him that integrity and legacy one can bequeath to younger generation as well as your understanding in Nigeria democracy,” Anieke said.
The son of the late jurist, Prof Chukwuemeka Aniagolu, described his father as an icon who contributed immensely to the growth of the judiciary in Nigeria.
He thanked Mr Peter Obi for, the university and guests for honour given to the family. (NAN)