Ihedioha resigns from PDP: Former Imo State governor, Emeka Ihedioha, has tendered his resignation to the Peoples Democratic Party (PDP), citing a misalignment between his personal beliefs and the current trajectory of the party.

In a resignation letter addressed to the chairman of his constituency, Mbutu Ward, Aboh Mbaise Local Government Area of Imo State, Ihedioha expressed his dedication to the advancement of democracy and good governance in Nigeria despite his decision to step away from the party.

Having been a member of the PDP since its inception in 1998, Ihedioha highlighted his contributions to the growth and evolution of the party, noting its historical commitment to internal reforms and providing credible leadership both in and out of power.

However, Ihedioha lamented recent developments within the party, stating that it has deviated from its core principles. He voiced concerns over the party’s inability to enact internal reforms, uphold its own regulations, and effectively oppose the ruling All Progressives Congress (APC).

The letter reads, “Since 1998, I have contributed my quota to the development and transformation of the Peoples Democratic Party (PDP) as one of the founding members. All these years, I have taken pride in the fact that the PDP is a party that will always look inward for internal reforms and provide credible leadership for the people, whether in power or outside power. I have had the benefit of serving and benefiting from the party at various levels.

“Regrettably, in recent times, the party has taken on a path that is at variance with my personal beliefs. Despite my attempt to offer counsel, the party is, sadly, no longer able to carry out internal reforms, enforce its own rules or offer credible opposition to the ruling All Progressives Congress.’

“It is in the light of the foregoing, that I am compelled to offer my resignation from the People’s Democratic Party effective immediately. While the decision was difficult to take, I, however, believe that it is the right one. Despite this resignation, I will always be available to offer my services towards the deepening of democracy and good governance in Nigeria.”

Dangote Petroleum Refinery has again announced a further reduction in the prices of both diesel and aviation fuel to N940, N980 per litre respectively.  

This is coming at the wake of its widely celebrated price reduction to N1,000 barely two weeks ago. 

The price change of N940 is applicable to customers buying five million litres and above from the refinery, while the price of N970 is for customers buying one million litres and above. 

Speaking on the new development, the Head of Communication, Mr Anthony Chiejina, explained that the new price is in consonance with the company’s commitment to cushion the effect of economic hardship in Nigeria. 

Chiejina said, “I can confirm to you that Dangote Petroleum Refinery has entered a strategic partnership with MRS Oil and Gas stations, to ensure that consumers get to buy fuel at affordable price, in all their stations be it Lagos or Maiduguri. You can buy as low as 1 litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates.”

He further stated that the partnership will be extended to other major oil marketers. 

“The essence of this is to ensure that retail buyers do not buy at exorbitant prices. The Dangote Group is committed to ensuring that Nigerians have a better welfare and as such, we are happy to announce these new prices and hope that it would go a long way to cushion the effect of economic challenges in the country,” he added.

It would be recalled that the management of Dangote Petroleum Refinery announced a further reduction of the price of diesel from N1200 to N1,000 per litre barely two weeks ago.

This marks the third major reduction in diesel price in less than three weeks when the product sold at N1,700 to N1,200 and also a further reduction to N1,000 and now N940 for diesel and N980 for aviation fuel per litre. 

Nigerian President Bola Tinubu had also commended Mr Dangote for the initial price reduction, describing it as an “enterprising feat.” 

Reacting to the latest development, the Director General of the Manufacturers Association of Nigeria (MAN), Mr Ajayi Kadiri, said that, “The decision of Dangote Refinery to first crash the price from about N1,750/litre to N1,200/litre, N1,000/litre and now N940 is an eloquent demonstration of the capacity of local industries to positively impact the fortunes of the national economy.”

He added that, “The trickle down effect of this singular intervention promises to change the dynamics in the energy cost equation of the country, in the midst of inadequate and rising cost of electricity.  

“The reduction will have far-reaching effects in critical sectors like industrial operations, transportation, logistics, and agriculture, contributing to easing the high inflation rate in the country; a lot of companies will be back in operation.”

The Central Bank of Nigeria (CBN) has notified Bureau De Change (BDC) operators of the sale of $10,000 at the rate of ₦1,021/$1.

The notification of discounted sales was contained in a fresh statement by the apex bank to the BDC operators.

This policy allows the CBN to sell a total of $10,000 to each eligible BDC, who in turn sell to end users with a maximum markup of 1.5% over the buying price in order to prevent price gouging and ensure that the benefits of the discounted rate are transferred to consumers needing foreign exchange for various personal transactions.

The CBN circular on the fresh sale reads: “We write to inform you of the sale of $10,000 by the Central Bank of Nigeria (CBN) to BDCs at the rate of N1,021/$1. The BDCs are in turn to sell to eligible end users at a spread of NOT MORE THAN 1.5 percent above the purchase price.

“ALL eligible BDCs are therefore directed to commence payment of the Naira deposit to the underlisted CBN Naira Deposit Account Numbers from today, Monday April 22, 2024, and submit confirmation of payment, with other necessary documentations, for disbursement of FX at the respective CBN Branches.”

Naija News recalls the CBN, in February 2024, announced the sale of $20,000 to each BDCS at the rate of N1,301/$. By the second attempt, the bank reduced the allocation by 50% and sold FX at a rate of N1,251/$1. Earlier this month, the apex bank had a sale of $10,000 to each BDC at a rate of N1,101/$1.

The embattled immediate past Governor of Kogi State, Alhaji Yahaya Bello said he was ready to appear before the Federal High Court in Abuja to answer to the 19-count charge the Economic and Financial Crimes Commission, EFCC, preferred against him. 

Though Bello was absent for his arraignment, he briefed a team of lawyers who addressed the court on his behalf on Tuesday. 

A member of his legal team, Mr. Adeola Adedipe, SAN, told the court that his client would have made himself available for the proceedings, but was afraid that he would be arrested. 

“The defendant wants to come to court but he is afraid that there is an order of arrest hanging on his head,” Adedipe, SAN, submitted.

Consequently, he urged the court to set aside the exparte order of arrest it earlier issued against the former governor.

Adedipe, SAN, contended that as at the time the order of arrest was made, the charge had not been served on his client as required by the law.

He noted that it was only at the resumed proceedings on Tuesday that the court okayed substituted service of the charge on the defendant, through his lawyer.

“As at the time the warrant was issued, the order for substituted service had not been made. That order was just made this morning.

“A warrant of arrest should not be hanging on his neck when we leave this court,” counsel to the defendant added. 

Besides, the ex-governor maintained that the EFCC is an illegal organization.

According to him, the Federal Government did not consult the 36 States of the federation before it enacted the EFCC Act through the National Assembly.

He argued that section 12 of the 1999 Constitution, as amended, required the various Houses of Assembly of states to ratify the Act before it could become operative.

“This is a very serious matter that borders on the constitution and the tenets of federalism. It has to be resolved because as it stands, the EFCC is an illegal organization,” Bello’s lawyer added.

However, EFCC’s lawyer, Mr. Kemi Pinheiro, SAN, urged the court to refuse the application, insisting that the warrant of arrest should not be set aside until the defendant makes himself available for his trial.

“The defendant cannot stay in hiding and be filing numerous applications. He cannot ask for the arrest order to be vacated until and when the defendant is present in court for his arraignment. He cannot be heard on that applied application.

“The main issue should be ascertaining the whereabouts of the defendant. All these applications he is filing are nothing but dilatory tactics intended to delay his arraignment and frustrate the proceedings.

“If he wants the order of arrest to be discharged, let him come here and make the application.

“Our position is that the defendant should be denied the right of being heard, until he is physically present before this court.”

EFCC’s lawyer further argued that inline with section 396 of ACJA, 2015, the court could not effectively assume jurisdiction to decide any application or objection in the matter, until the defendant is arraigned. 

The anti-graft agency said it would not execute the arrest warrant if counsel to the defendant undertake to ensure his presence on the next adjourned date.

“If he gives an undertaking that his client will be in court on the next date, I can assure him that the arrest warrant will not be executed.

“If he gives that assurance, as the prosecution, I will personally apply for the warrant to discharged,” EFCC’s lawyer, Pinheiro, SAN, added.

EFCC told the court that the Supreme Court had since settled the issue of its legality.

“The charge before this court is not against a state or House of Assembly, but against an individual who is said to have laundered public funds. 

“It is against an individual who is said to have taken public funds to buy houses in Lagos, Maitama and also transfered funds to his accounts abroad,” EFCC added.