A money laundering case to the tune of N300m against former Attorney General of the Federation and Minister of Justice, Mohammed Adoke has ended after seven years.
The presiding judge, Justice Inyang Ekwo of a Federal High Court in Abuja dismissed the trial on Friday.
Ekwo upheld Adoke’s “no-case” submission against the money laundering charges against him because the prosecution, the Economic and Financial Crimes Commission (EFCC) failed to establish a prima facie case against him.
In 2017, the EFCC had prosecuted Adoke and a property developer, Abubakar Aliyu, alleging money laundering.
charges before Justice Abubakar Kutigi of the FCT High Court, even though the case did not mention the Oil Prospecting Licence (OPL) 245 transaction.
Although the EFCC admitted before Ekwo that it was a mortgage that Adoke took from Unity Bank, it alleged before Kutigi that the money was a bribe from the sale of the oil block by Malabu Oil & Gas Ltd. in 2011.
However, on March 28, Kutigi identified the paradox, and subsequently dismissed the charges against Adoke and other defendants, chiding the EFCC for wasting the court’s time for four years.
Ekwo further upheld the no-case submission, and consequently discharged and acquitted Adoke.
The Commissioner of Police, FCT, CP Benneth Igweh, has expressed heartfelt gratitude on behalf of the management and personnel of the FCT Police Command for the kind gesture of the minister, FCT, Chief Barr. Nyesom Ezenwo Wike, for fulfilling his promise to the Command.
The minister had directed the FCT Command to hunt down and arrest or neutralize two wanted bandit/kidnapping kingpins who had been terrorizing Abuja particularly the Bwari, Dutse Alhaji and Kubwa axis.
He backed the decisive action/directive by placing a bounty of twenty million naira (₦20million) on two notorious and most wanted kidnappers on February 14, 2024, and has matched his words with action following the arrest of the two wanted kidnappers.
A statement by FCT Command said, “The implementation of such measures reflects the minister’s leadership and responsiveness to the security and safety of residents.
“The Command is therefore highly honored and grateful for his unflinching and continuous support in combating crime and ensuring the well-being of the residents.
“The CP ensured that the fund was distributed amongst the tactical teams and the divisional police officers of the command to ensure better service delivery.
“He also reassures the Minister and the residents of FCT that the command under his leadership will leave no stone unturned in the fight against crime and criminality and will continue to work assiduously to ensure the safety of residents.
“He urges residents to be vigilant and take advantage of the police emergency lines to report suspicious activities through: 08032003913, 08028940883, 08061581938, and 07057337653 PCB:
09022222352, CRU: 08107314192″
The Nigerian Senate has postponed the resumption of plenary from the 23rd of April 2024 to the 30th.
The postponement was contained in a notice issued by the Clerk to Senate, Chinedu Akubueze which was released on Thursday in Abuja.
Part of the notice read: “Distinguished Senators are hereby, respectfully informed that resumption of plenary, which was earlier postponed to Tuesday 23rd April 2024, has further been postponed to *Tuesday 30th April 2024 at 11 am.
“Kindly note that the plenary sitting will be held at the main Chamber of the Senate.
“All inconveniences this postponement may cause Distinguished Senators are highly regretted, please.”
DAILY POST reports that the latest postponement is the second since Lawmakers in the upper and lower legislative Chambers went on Easter and Sallah recess.
Umar Damagum, acting national chair of the Peoples Democratic Party (PDP), has survived attempts to remove him from office — at least for now.
Briefing journalists after the PDP national caucus meeting early Thursday morning, Debo Ologunagba, the party’s spokesperson, said the issue of whether Damagum should remain or be removed from office has been deferred.
He said Damagum will continue as acting national chair of the party till the next national executive committee (NEC) meeting.
The party’s constitution mandates that NEC meeting be convened once in three months.
“The caucus did not deliberate on this matter because there are numerous complexities regarding leadership at this time,” he said when asked about the caucus decision on Damagum.
“Therefore, this matter was deferred to the upcoming NEC meeting. The issues presented by the NWC were discussed by the caucus. Umar Damagum will remain the acting national chairman of the party until the subsequent NEC meeting following tomorrow’s (today’s) session.
“The party has recognised the importance of conducting further consultations on that matter. Our priority is maintaining party unity, as we navigate through these issues without causing division.
“We are committed to following our constitution and any succession plan that aligns with our current circumstances, including ongoing court processes. Our aim is to take actions that promote unity and are by our constitution.”
The resolution of the national caucus is subject to the ratification of NEC.
The NEC meeting is scheduled to hold today.
The PDP national caucus is a vital organ of the party. Members usually meet a day before the NEC meeting.
Majority of decisions made at the NEC meeting are typically deliberated upon during the national caucus gathering.
There have been calls from different quarters for Damagum to step down as the PDP acting chairman.
Damagum became acting chairman following the suspension of Iyorchia Ayu in March 2023.
Those demanding Damagum’s resignation based their argument on the need for someone from the north-central to take over and complete Ayu’s tenure.
Ayu hails from Benue state.
On Tuesday, the national working committee (NWC) of the PDP passed a vote of confidence in Damagum, amid calls for him to step aside.
WHAT NATIONAL CAUCUS DISCUSSED
The PDP spokesperson said the caucus discussed several issues, including the unity of the party.
“At the meeting, the national caucus deliberated on the forthcoming local government, ward, and state congresses, scheduled for between June and August 2024,” he said.
“The caucus endorsed the NWC’s reconstitution of the party’s disciplinary and reconciliation committees. These are standing committees tasked with addressing internal party matters.
“Fourthly, the caucus extended the tenure of the party’s Constitution Review Committee to incorporate new suggestions for amending the party’s constitution.
“Additionally, the caucus also discussed various methods of fundraising for the party, including membership drives, investment initiatives, and other matters that the NWC will address and subsequently present to the NEC for approval.”
[TheCable]
[PRESS RELEASE] Sanwo-Olu, Fashola, Others Chart New Course for Youths at First Lagos Leadership Summit
AdminThe first Lagos Leadership Summit, held Wednesday, ignited new passion and zeal towards charting a new course of action for the country’s future. The event, organised by Lateef Jakande Leadership Academy (LJLA), presented an opportunity for inclusive interaction between old and new generations.
Debates, speeches and panels delved into topics that challenged the mental, emotional and physical preparation of the youth to take up leadership roles. Discussants evaluated how young people currently in leadership positions had inspired impactful changes.
The event, with the theme: “Leadership and Nigeria's Future”, held at Konga Place in Lekki, was graced by a large physical and virtual audience, indicating the interest of the youth in the conversation.
Governor Babajide Sanwo-Olu shared his personal leadership engagement story with the participants, recalling how, at 37, he was appointed into Lagos State cabinet as Special Adviser with only private sector experience.
The Governor said his appointment into public service offered him the opportunity to learn multidimensional leadership and build problem-solving capacity, which, he added, prepared him for bigger tasks in the course of his public career.
Sanwo-Olu said the summit was initiated with the objective to create an engaging platform for young people to channel their energy, knowledge and creativity to actions that would project their leadership skills.
He said: “We believe young people are leaders not only for tomorrow, but today. This idea gave birth to Lateef Jakande Leadership Academy through which we provide opportunities for young leaders to learn, innovate and develop skills that will enable them hone their leadership skills.
“For us, it is not about the contemporary challenges that we face; it is about the innovative ideas and solutions that we will bring about in solving the problems. That is why we all gather here to make you think out of the box, innovate and unleash your leadership potential.
“The quality of output from the Academy has not only shown us that we took the right step, the feedback has been outstanding and we are prepared to create more platforms for robust youth engagement. The country is banking its future on the youth. Character is critical; young people must have the competence and vision to make the changes you want to see.”
Former Minister for Works and Housing, Mr. Babatunde Raji Fashola, during a discussion titled: “Ethical Leadership and its Impact on Nation Building”, lent his voice to the notion that young people must go through the rudimentary process of leadership before being entrusted with responsibilities.
The former Lagos Governor also said the notion that “the end justifies the means” could no longer be a standard practice in governance, stressing that the leader must do the right thing even if the consequence won’t go down well with the population.
He said: “Days of the end justifies the means can no longer be the gold standard for governance any more. The process must be as important as the result. I subscribe to enjoyment after adversity because I have had introspection on every sustainable success story we have had, not one of them had not been built on the foundation of adversity.
“Therefore, if the utilitarian value of any policy, project or programme being pursued by the government serves the greatest good to the greatest number of people, then the leadership must go for it regardless of the consequences. In years to come, many people would look back and say it was better that we did it the way it was done.”
The Deputy Governor, Dr. Obafemi Hamzat, shared perspectives on “Leadership and Community Engagement: Strengthening the social Fabric of Nigeria” during a session moderated by the Special Adviser to the Governor on Legal Matters and Public Private Partnership (PPP), Mrs. Bukola Odoe.
Dr. Hamzat noted that foundation for building a consensus in the community had been jettisoned for individualism.
This, the Deputy Governor said, had made parenting significantly deviated from its essential purposes.
He said: “The older generation inherited a robust community engagement model that pursued the agenda of the collective. Today, the foundation for engagement is weak and people have moved towards individualism, which has eroded the values of collectivism entrenched in our culture and civilisation.
“In trying to bridge the gap and create robust community engagement, technologies have given us the speed and instantaneous power to drive change within our communities today. We must continue to aggregate what is positive and use it for the best of our communities.”
Minister for Communications, Innovation and Digital Economy, Dr. Bosun Tijani, urged the participants to go with the trend of technological advancement, noting that the future leadership would be influenced by the Industrial Revolution that would be taking place in the era.
LJLA Executive Secretary, Mrs. Ayisat Agbaje-Okunade, said the summit aimed to forge
connections between the old and new generation, while understanding that the idea of leadership is beyond rhetoric.
“Our world is evolving at an unprecedented pace and the challenges we face require leaders who are not only capable but compassionate, visionary and adaptable. We believe leadership must transcend rhetoric and manifest tangible outcomes. We need leaders who inspire confidence, foster unity, and drive transformation,” she said.
Other speakers at the event included the Minister of State for Youth, Ayodele Olawande, Senior Special Assistant to the President on Citizenship and Leadership, Rinsola Abiola, Lagos Commissioner for Science and Technology, Olatunbosun Alake, Commissioner for Agriculture, Abisola Olusanya, Economic Adviser to Katsina State Governor, Khalil Nur Khalil and Founding Partner of Venture Platform, Kola Aina, among others.
SIGNED
GBOYEGA AKOSILE
SPECIAL ADVISER - MEDIA AND PUBLICITY
18 MARCH 2024
President Bola Tinubu has said his administration remains undeterred in its pursuit of comprehensive economic security for the country.
He also promised to address foundational challenges and create a fair and equitable system in which all Nigerians can thrive.
Tinubu made the promise when he received leaders of Afenifere, the respected Yoruba Socio-Cultural Organization, at the State House in Abuja, on Wednesday.
President Tinubu said his administration is re-engineering Nigeria’s finances and seeking to boost the purchasing power of citizens and spread prosperity down the line, by instituting a credit system where the element of cash is not an impediment to a significantly enhanced standard of living for all citizens.
The President said Nigeria must secure itself economically first before it can achieve any of its more sophisticated objectives.
He said: ‘’We are committed to the economic survival of our country. To re-engineer the finances of our country, we must start in earnest. So first, retool, revamp the economic opportunities available, and resolve to continue taking the firm and steady baby steps that are necessary.
‘’Education is a strong weapon against poverty. To empower the people, we must invest in the future of our youths. We have seen the problems parents face in training their children in school; it is the reason why we established the National Student Loan Programme, which is taking off well.
‘’We are equally examining what to do with the high degree of unemployment. We must help vulnerable people by providing social security. We are looking at how to provide allowances for the unemployed, and we are developing ways to boost the purchasing power of citizens with the Consumer Credit Scheme. If we remove the cash upfront element to buy a car or a house, we will reduce the propensity for fraud and corruption across the land.”
Speaking on security, the President declared that those who threaten the sovereignty of Nigeria would pay a heavy price.
“I am irrevocably committed to the unity of Nigeria and constitutional democracy. Constitutional democracy has been reflected greatly here since we assumed office.
“What we face now is the challenge of terrorism. Security of life and property is very necessary for development. I can tell you we are achieving success. We have degraded terrorism to a level that they cannot threaten the sovereignty of Nigeria any longer.
‘“Banditry and kidnapping will be defeated. And there is no payment of ransom whatsoever. We are taking the battle to them. We are getting results more rapidly than before.
“We are working hard on intelligence gathering. Those who think they can threaten the sovereignty of Nigeria will have themselves to blame. They have a price to pay. And we are not going to relent,’’ he affirmed.
The Economic and Financial Crimes Commission (EFCC) will today (Thursday) arraign a former governor of Kogi State, Yahaya Bello, before a Federal High Court sitting in Abuja.
Naija News reports that the governor will be arraigned alongside three other suspects, Ali Bello, Dauda Suleiman, and Abdulsalam Hudu.
The EFCC is arraigning them before Justice Emeka Nwite on 19-count charges bordering on money laundering to the tune of N80, 246,470, 088.88 (Eighty Billion, Two Hundred and Forty-Six Million, Four Hundred and Seventy Thousand and Eight Nine Naira, Eighty Eight Kobo).
They will face 19 counts of alleged fraud in a charge marked FHC/ABJ/CR/98/2024 filed on March 6, 2024, by a Senior Advocate of Nigeria (SAN), Dr. Kemi Pinheiro.
Pinheiro and two other SANs – Jubrin Okutepa and Rotimi Oyedepo – will lead seven other lawyers from the EFCC against the defendants.
Count 1 of the charge reads: “That you, Yahaya Adoza Bello, Ali Bello, Dauda Suleiman, and Abdulsalam Hudu (Still at large), sometime in February 2016, in Abuja, conspired amongst yourselves to convert the total sum of N80,246,470,089.88 which sum you reasonably ought to have known forms part of the proceeds of your unlawful activity to wit: criminal breach of trust and you thereby committed an offense contrary to Section 18(a) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 as amended.”
Count 2: “That you, Yahaya Adoza Bello, sometime in 2023, in Abuja, indirectly procured one Ali Bello, Dauda Suleiman, and Abdulsalam Hudu (still at large) to use the sum of N950,000,000.00 for the acquisition a property lying, being and situate at No. 35 Danube Street, Maitama District, Abuja, which sum you reasonably ought to have known forms part of proceeds of your unlawful activity to wit: criminal breach of trust, and you thereby committed an offense contrary to section 18 (c) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under section 15 (3) of the same Act.”
Count 3: “That you, Yahaya Adoza Bello, sometime in February 2021 in Abuja, indirectly procured one Ali Bello, Dauda Suleiman and Abdulsalam Hudu (still at large) to use the sum of N100,000,000.00 for the acquisition a property lying, being and situate at No. 1160, within Cadastral Zone C03, Gwarimpa II District, Abuja, which sum you reasonably ought to have known forms part of proceeds of your unlawful activity to wit: criminal breach of trust, and you thereby committed an offense contrary to section 18(c) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under section 15 (3) of the same Act.”
Count 4 “That you, Yahaya Adoza Bello, sometime between 2018 to 2020, indirectly procured one Yakubu Siyaka Adegbenga, Iyadi Sadat and Abba Adaudu to use the sum of N920,000,000.00, for the acquisition a property lying, being and situate at No.2 Justice Chukwudifu Oputa Street, Asokoro, Abuja, which sum you reasonably ought to have known forms part of proceeds of your unlawful activity to wit: criminal breach of trust, and you thereby committed an offense contrary to section 18(c) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under section 15 (3) of the same Act.”
Count 5: “That you, Yahaya Adoza Bello, sometime in 2022, in Abuja, within the jurisdiction of this Honorable Court, indirectly procured one Ali Bello, Dauda Suleiman, Rabiu Musa Tafada Global Ventures and Abdulsalam Hudu (still at large) to use the sum of N170,000,000.00 for the acquisition of a property lying, being and situate at block D Manzini Street, Wuse Zone 4, Abuja, which sum you reasonably ought to have known forms part of proceeds of your unlawful activity to wit: criminal breach of trust, and you thereby committed an offense contrary to section 18(c) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under section 15 (3) of the same Act.”
The EFCC also accused Bello of procuring a firm to transfer the aggregate sum of US$570,330.00 to an account number in TD Bank, United States of America, “which sum you reasonably ought to have known forms part of proceeds of unlawful activity to wit: Criminal breach of trust.”
The last count accused the former Kogi State Governor of indirectly procuring E-Traders International Limited, Aleshua Solutions Services, Whales Oil and Gas, Forza Oil and Gas, Dada Grand Merchant Limited to transfer $556,265 to account number 4266644272 domiciled in TD Bank, United States of America “which sum you reasonably ought to have known forms part of proceeds of unlawful activity to wit: Criminal Misappropriation and you thereby committed an offense contrary to section15(2)(d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15(3) of the same Act.”
The Central Bank of Nigeria (CBN) has reduced the Loan-to-deposit ratio (LDR) of banks to 50 per cent from 65 per cent.
The apex bank made this known in a circular to Deposit Money Banks titled “Re: Regulatory Measures to Improve Lending to the Real Sector of the Nigerian Economy”.
The circular was signed by the Acting Director of the Banking Supervision Department, CBN, Adetona Adedeji.
In a bid to increase lending to the economy especially Small and Medium Enterprises, SMEs, retail mortgage and consumer loans, the CBN on July 3, 2019, increased Banks’ LDR to 60 per cent from 57 per cent.
The LDR was further raised to 65 per cent in January 20020.
The reduction in the LDR according to analysts at Afrinvest Securities is to allow banks to comply with the Cash Reserve Ratio, CRR of 45 per cent.
They said, “Today, the CBN in a circular to Deposit Money Banks titled “Re: Regulatory Measures to Improve Lending to the Real Sector of the Nigerian Economy” announced a scale down of the Loans to Deposits Rate (LDR) by 15.0ppts to 50.0% – reversing previous threshold set by the past CBN administration in January 2020.
“In our view, this downward review of LDR allows banks to comply with the 45.0% CRR directive, and eases off pressure on the lenders considering the restrictive nature of other CBN directives including the Net Open Position (NOP) ceiling of 20.0% short and 0.0% long. Thus, we believe this policy would enhance the ability of banks to sweat out assets without creating unnecessary risks.”
The CEO of Rainoil Limited, Gabriel Ogbechie, disclosed that the Nigerian government has resumed the controversial payment of fuel subsidies, now estimated at about N600 billion monthly, due to the recent devaluation of the Naira.
This statement was made during the Stanbic IBTC Energy and Infrastructure Breakfast Session in Lagos, stirring significant discussions on the nation’s economic and energy policies.
Return of the Subsidy
Mr Ogbechie detailed the resurgence of the fuel subsidy following the adjustment in foreign exchange rates. “When Mr. President came in May last year, one of the things he said is that subsidy is gone. And truly, the subsidy was gone because immediately, the price of fuel moved from 200 to 500 per litre. But a few weeks later, the government devalued the exchange rate, and the Dollar moved to about N750. At that point, the subsidy was beginning to come back,” Ogbechie explained.
He further highlighted that with the official closure of the dual exchange rate markets and the consolidation to about N1,300 per dollar, the subsidy on petrol was unmistakably reinstated. “The moment the two markets officially closed, officially the market went to about N1,300. At that point, that conversation was out of the window. Subsidy was fully back on petrol,” he emphasized.
Subsidy Calculations and Implications
Ogbechie broke down the current subsidy figures, stating, “If you look at our daily consumption, say 40 million liters, and we’re spending N500 per liter, that is about N20 billion every day, N600 billion every month, and 7.2 trillion yearly depending on how we look at it. So, subsidy is definitely back on petrol.” These numbers not only highlight the financial magnitude of the subsidy but also underscore the economic pressures faced by the Nigerian government in maintaining fuel price stability.
Government and Public Perspectives
The reimplementation of the fuel subsidy has sparked debates across various sectors. The former governor of Kaduna State, Nasir El Rufai, echoed concerns by stating that the federal government is spending more on petrol subsidy than before. Meanwhile, Mrs. Olu Verheijen, Special Adviser to the President on Energy, elucidated the government’s stance, “The subsidy was removed on May 29. However, the government has the prerogative to maintain price stability to address social unrest. They reserve the right to intervene.”
She added, “If the government feels that it cannot continue to allow prices to fluctuate due to high inflation and exchange rates, the government reserves the right to intervene intermittently, and that does not negate the fact that subsidy has been removed.”
NNPC’s Position
Contrarily, the Nigerian National Petroleum Corporation (NNPC) has maintained that no subsidy is paid to its account from the federal government. Mele Kyari, GCEO of NNPC, stated in August 2023, “I told you there’s no subsidy whatsoever, we are recovering our full cost from the products that we import. We sell to the market, we understand why the marketers are unable to import. We hope that they do this very quickly, and these are some of the interventions the government is doing. There is no subsidy.”
A few days after the commemoration of the 10-year anniversary, another Chibok girl, Lydia Simon, has been rescued by troops of Operation Desert Sanity III, North East Operation Hadin Kai.
She was rescued with her three children by the troops of 82 Division Task Force Battalion in Ngoza LGA of Borno State, yesterday.
Sources told Vanguard that, Lydia, who was on serial number 68 among the abducted missing girls, escaped from the camp of Ali Ngulde in Mandara Mountain, where she was held in captivity for several years.
She surrendered to troops of 82 Division Task Force Battalion at Ngoshe in Gwoza LGA. The rescued Chibok girl was five months pregnant and claimed she was from Pemi Town in Chibok.
More...
President Bola Tinubu, on Wednesday, promised harsh consequences for persons who pit themselves against Nigeria’s sovereignty and security.
He also said his administration had made considerable gains against banditry and kidnapping through intensified campaigns buoyed by intelligence gathering.
“Those who think they can threaten the sovereignty of Nigeria will have themselves to blame. They have a price to pay. And we are not going to relent,” Tinubu said when he received leaders of the Yoruba socio-political Organisation, Afenifere, at the State House in Abuja on Wednesday.
The delegation was led by the leader of Afenifere, Pa Reuben Fasoranti, Oba Olu Falae, and other eminent citizens.
The President’s Special Adviser on Media and Publicity, Ajuri Ngelale, revealed the details of Wednesday’s talks in a statement titled, ‘President Tinubu receives leaders of Afenifere, says the administration is resolute in achieving economic security in a fair and equitable system for all Nigerians.’
Speaking on security, the President declared that those who threatened the sovereignty of Nigeria would pay a heavy price.
The declaration by Tinubu came days after Yoruba Nation agitators, dressed in military camouflage and armed with guns, stormed the Oyo State Government Secretariat, attempting to hoist the Yoruba Nation flag on the premises of the Oyo State House of Assembly.
The Yoruba Nation promoters are seeking the breakaway of the Yoruba people from the Federal Republic of Nigeria.
They contended that the interest of the Yoruba people had not been adequately protected in Nigeria, saying their welfare would be better taken care of under a separate sovereign entity to be known as Yoruba Nation.
But Tinubu speaking on Wednesday, vowed to keep Nigeria as one.
The President said, “I am irrevocably committed to the unity of Nigeria and constitutional democracy. Constitutional democracy has been reflected greatly here since we assumed office. What we face now is the challenge of terrorism.
“Security of life and property is necessary for development. I can tell you we are achieving success. We have degraded terrorism to a level that it can no longer threaten Nigeria’s sovereignty.
“Banditry and kidnapping will be defeated. And there is no payment of ransom whatsoever. We are taking the battle to them. We are getting results more rapidly than before. We are working hard on intelligence gathering.”
The President said his administration was re-engineering Nigeria’s finances and seeking to boost citizens’ purchasing power and spread prosperity by instituting a credit system where the element of cash does not impede a significantly enhanced standard of living for all citizens.
He argued that Nigeria must first secure itself economically before achieving its more sophisticated objectives.
“We are committed to our country’s economic survival. To re-engineer our country’s finances, we must start in earnest,” he explained.
According to Tinubu, this will require first retooling, revamping the economic opportunities available, and continuing to take the necessary firm, steady baby steps.
“Education is a strong weapon against poverty. To empower the people, we must invest in the future of our youths.
“We have seen the problems parents face in training their children in school; it is why we established the National Student Loan Programme, which is taking off well,” he explained.
He assured the Yoruba leaders that his administration would emphasise the Consumer Credit Scheme and provide allowances for the unemployed to reduce the high unemployment rate.
“We must help vulnerable people by providing social security.
“We are looking at how to provide allowances for the unemployed, and we are developing ways to boost the purchasing power of citizens with the Consumer Credit Scheme.
“If we remove the cash upfront element to buy a car or a house, we will reduce the propensity for fraud and corruption across the land,” President Tinubu said.
He thanked the delegation for their prayers and support and assured them he would not relent in his resolve to advance Nigeria.
“God bless Nigeria. God bless our unity; our diversity must bring prosperity for all for the sake of Nigeria,” Tinubu concluded.
Earlier in his remarks, Oba Olu Falae commended the President for his courageous decisions, the rehabilitation of the Third Mainland Bridge in Lagos, and other critical ongoing projects.
Oba Falae urged the President not to relent in ensuring fairness and equity for all Nigerians while noting the importance of a constitutional amendment to devolve more powers to the states.
He said, “We are delighted about what you are doing for our country, and we assure you of our continued support.
“We thank you for visiting Akure in February 2024 and believe it is proper to reciprocate your kind gesture.
“We appreciate this relationship, and we need to make it work in the interest of Nigeria.”
Describing President Tinubu as the most important political figure in Africa, the monarch conveyed the elders’ expectations of him to lead the country with knowledge, courage and integrity.
“We have no doubt that your tenure will mark a turning point in our country’s history. Under your leadership, Nigeria will be repositioned,” he said.
The Afenifere Chief also promised firm support for the President, saying, “We will stand by you as you make all efforts to improve the Nigeria story. Be assured that Afenifere will not abandon you in fair or foul weather. As long as you remain faithful to the principles of fairness, integrity, and courage expected of you as the leader of Nigeria, we will stand by you.”
The Organised Private Sector (OPSN) has decried the new tariff of N225/kwh for Band A electricity customers, saying that over 65 per cent of private business-es, especially manufacturing sec-tor and SMEs, may be forced to close down due to the high electricity tariff.
The Association called for the suspension of new tariff implementation to enable all stakeholders have meaningful dialogue around the process and method-ology of determining electricity tariff as well as jointly agreeing on the transparent mechanism re-quired for tariff setting.
It said Nigeria now ranks third after Germany and the United Kingdom on the list of countries with high electricity costs.
The Association, comprising top Business Membership Organisations (BMOs) Manufactures As-sociation of Nigeria (MAN), Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Nigeria Employers’ Consultative Association (NECA), Nigerian Association of Small-Scale Industrialists (NASSI) and Nigerian Association of Small and Medium Enterprises (NASME) representing more than five million businesses in Nigeria stated this in a joint release.
It said that “the OPSN has received numerous complaints from its member-companies on the implications of the recent astronomical increase in electricity tariff by the Nigerian Electricity Regulatory Commission (NERC) for Band A customers without the required and proper consultations with the private sector.
“This sudden exponential in-crease in the face of inadequate electricity supply, is inimical to the competitiveness of Nigerian products and businesses and will definitely exacerbate the impact of high cost of production. Meanwhile, the astronomical increase is against the MYTO Order referenced NERC/2023/05, which valued the cost-reflective tariff at N114.8/Kwh (determined using exchange rate of N919.39/$1). It also does not reflect the current exchange rate reality that has seen the naira appreciated by 62.95 percent over the dollar in the last one month.”
It explained that “a closer look at the impact of increase in elec-tricity tariff to N225/kwh (determined using exchange rate of N1463.31/$1) on the cost profile of a medium sized company using 700 kw revealed that the firm will need to pay about N1.4 billion per annum for electricity. In China, a similar medium sized company will pay a little over N24 million.”
It added that “what is most worrisome with the Nigerian case is the fact that the electricity to be supplied is not adequate. Also, the increase is coming on the heels of macroeconomic instability, infrastructure deficits, as well as other supply side constraints limiting the performance of the productive sector.”
[Leadership]
Another Chibok girl, Lydia Simon, has been rescued by troops of Operstion Desert Sanity III, North East Operation Hadin Kai.
She was rescued along with her three children by the troops of 82 Division Task Force Battalion in Ngoza LGA, on Wednesday April 17, 2024.
Zagazola Makama, a counter insurgency expert and security analyst in the Lake Chad region, said that Lydia who was on serial number 68 among the abducted missing girls escaped from the camp of Ali Ngulde in Mandara Mountain where she was held in captivity for several years
She surrendered to troops of 82 Division Task Force Battalion at Ngoshe in Gwoza LGA. The rescued Chibok girl was five months pregnant and said she was from Pemi Town in Chibok.
April 14, marks the 10th anniversary of the violent abduction of 276 girls from Government Secondary School, Chibok, Borno State, by Boko Haram insurgents.
While 57 of the girls escaped from their captors in the following days, 16 were later rescued and 107 have at different times been released through negotiations.
The Federal government, state and the Nigerian Army have pledged its commitment toward rescuing the rest of the abducted girls that are still held in captivity by the terrorists.
[Businessday]
The political rivalry between Abba Yusuf, current governor of Kano State and his predecessor, Abdullahi Ganduje, took a new twist on Wednesday as a Kano State High Court affirmed the latter’s suspension as the National Chairman of the All Progressives Congress, APC.
The court in an ex parte order affirmed the suspension of Ganduje and restrained him from parading himself as the National Chairman, as well as a member of the party.
The court also ordered, that henceforth, Ganduje should desist from presiding over all affairs of the National Working Committee, NWC, of APC.
The order followed an ex parte motion filed by Dr. Ibrahim Sa’ad Esq on behalf of two executive members of APC Ganduje ward, Dawakin-Tofa local government area.
They included the assistant secretary, Laminu Sani and the legal adviser, Haladu Gwanjo (plaintiffs) who were part of the nine ward executive members who suspended Ganduje two days ago.
DAILY POST reported that nine members of the Ganduje ward announced the suspension of the APC National Chairman over the allegation of corruption slammed on him by the Kano State government.
The nine APC executive members said they were prompted to act following a petition written by one Ja’afaru Adamu, a member of the APC from the National Chairman’s polling unit in which he complained over allegation of corruption charges against the former Governor, urging the ward leaders to investigate the matter to redeem the dented image of the party and the implication on President Bola Tinubu’s fight against corruption.
Ganduje’s alleged suspension was announced by the ward’s legal adviser, Halliru Gwanzo, while addressing newsmen in Kano on Monday.
Gwanzo accused the former governor of “gross misconduct and misappropriation of public funds during his administration in Kano,” citing allegations of bribery against Ganduje by the Kano state government as the reason for the suspension.
He said: “We resolved to pass a vote of no confidence on the National Chairman of the party due to his inability to clear his name from allegations of corruption, particularly the ‘dollar video’ that went viral.
“The APC leaders in Ganduje Ward are worried that the party is being subjected to unnecessary embarrassment from the rival New Nigeria Peoples Party (NNPP) over unsubstantiated allegations of corruption levelled against Ganduje’s administration.
“Ganduje ward leaders deem it fit to suspend the national chairman to enable him concentrate on the litigation and other hanging issues so that he could appropriately clear his image and that of his family.
“President Bola Tinubu’s commitment to the ongoing fight against corruption has made it necessary for Ganduje to deal with the seeming baggage of corruption hanging on his neck as it is already denting the reputation of the APC-led federal government.
“We, the leaders of the APC in Ganduje Ward, after thorough deliberations, decided to suspend the chairman to give him time to clear his name.
“Since Ganduje has been summoned to answer for these accusations, we are being proactive as it could potentially affect the reputation of our political party.”
However, a short-lived reprieve came to Ganduje’s way when the suspension was countered by the Kano State Working Committee (SWC) of the APC, which slammed drastic measures against those who announced the suspension.
The state chapter of the party described the suspension of the National Chairman by Ganduje Ward of the party as illegal, null and void.
It also announced immediate suspension of the Ward Executives for their action, which it termed as a manipulation from outside.
Also, the APC national headquarters at Abuja said Ganduje remains the party’s national chairman.
The spokesman of the APC at the national level, Felix Morka, who spoke on behalf of the party, described the move as “criminal” and insisted that Ganduje remains the party’s chairman.
“We urge our Party faithful and the general public to disregard reports of the suspension of the National Chairman who is, and remains, the National Chairman of our great Party.
“The purported suspension was the devious act of a group of impersonators of Ward officials out to cause mischief and create confusion in the otherwise peaceful Ganduje Ward chapter of our Party.
“This act procured by officials of the ruling NNPP in Kano is part of the despicable program of political persecution launched by the administration of Governor Abba Kabir Yusuf against Dr. Ganduje, a former Governor of Kano state.
“The purported suspension is downright criminal, and of no effect whatsoever. The legitimate Executive Committee of the Ganduje Ward has since denounced the action and reaffirmed Dr. Ganduje as a bonafide member of the Party in the Ward, and in good standing,” Morka said in a Tuesday statement.
However, the party’s stand might likely change following the recent order by the Kano High court affirming Ganduje’s suspension.
Before now, the ex-governor’s camp had accused the state government of masterminding the suspension.
Reacting to his suspension and subsequent affirmation by the court, Ganduje claimed that the move to suspend him from office was orchestrated to starve President Bola Tinubu of Kano votes ahead of the 2027 election.
He made the revelation when he received a delegation of 27 executive members of his ward in Dawakin Tofa Local Government Area of Kano State at the party’s secretariat in Abuja.
Ganduje told the delegation that his investigation has revealed that the arrows of persecution against him were coming from the camps of the New Nigeria People’s Party, NNPP, and the Governor of Kano, Abba Yusuf.
He said: “When we first heard the news, we knew it was not true. But we had to exercise patience to affirm those behind it.
“After a formal investigation, it was found that those who met with officials of the Kano State government were not executive members either at the ward, state or even members of our party.
“These lies are peddled by the NNPP and the governor of Kano State to destroy our party because they are so concerned that during their first year in office, the people have seen the destruction of the economy of Kano down to the increase in political violence and also the destruction of political morality.
“With all these put together, they have started seeing the failure of their party. They are more concerned that we might take over the government from their party in 2027.”
DAILY POST recalls that Yusuf, who emerged governor of the state under the platform of the New Nigerian Peoples Party, NNPP, in 2023, had on assumption of office accused Ganduje of misappropriating public funds and allocating plots of land to some members of his immediate family.
But speaking on the matter, a Kano-based legal practitioner, Wangida Isa, said Ganduje should honourably resign as the National Chairman of the APC till he clears the corruption allegations against him by the state government.
He dismissed claims that the NNPP planned Ganduje suspension through some APC executives at the ward level.
The lawyer spoke on Tuesday when appeared as a guest on Channels Television’s programme.
Isa said that ward executives were legally empowered to sack any member of the party, insisting that the allegations against the ex-governor were “heavy offences”.
He also stated that Ganduje has not been exonerated as the court said he should be tried at a federal court because the money laundering offences levelled against him by the state government was a federal offence.
Fresh from the suspension, the anticipated arraignment of Ganduje was stalled on Wednesday due to the Kano State Government’s inability to serve criminal charges against him.
The move to arraign him has created palpable fear and uncertainty in Kano.
According to the court documents, Ganduje, his wife, Hafsat Ganduje, his son, Abdullahi Umar and five others, were slated to face eight counts including $413,000 bribery allegation, as well as the alleged diversion and misappropriation of funds amounting to N1.38bn.
The state government said it had assembled 15 witnesses to testify against them.
DAILY POST also reported that the Kano State Anti-Corruption and Public Complaints Commission had announced new corruption charges and maladministration against Ganduje.
The Chairman of the Commission, Muhuyi Magaji, who announced the development, said investigations uncovered the diversion of N51.3 billion from local government funds to unauthorised individuals during Ganduje’s tenure.
Magaji alleged that the Ganduje administration withdrew N1 billion monthly from state coffers before its tenure ended in May 2023, purportedly for road renovation, but diverted to Bureau de Change operators instead.
Speaking on Channels Television’s Sunrise Daily programme on Tuesday, Magaji also cited a case involving N4 billion transferred to an agricultural company from Kano’s consolidated revenue account.
“What is happening now is a tip of the iceberg. As I am talking to you, we are investigating a case whereby N51.3bn local government funds were directly taken from the government coffers (and) sent to other individuals, and we traced it to people.
“We have filed a series of cases. We have a case whereby N1bn in April last year (2023) was removed from government coffers under the allocation of renovating 30 roads in the metropolis, and it was taken away and sent to Bureau de Change.
“We have a case of N4bn whereby it was sent from the consolidated revenue account of Kano State to an agricultural company. All these cases are before the court,” he said.
Magaji said though he was appointed by Ganduje to head the agency, he won’t hesitate to prosecute alleged corruption by the immediate-past administration in the state.
According to him, he started probing Ganduje when he was governor of Kano State.
The APC national chairman is not new to allegations of corruption.
Recall that as governor of Kano State, a video clip allegedly showed Ganduje stuffing his pockets with bales of dollars suspected to be kickback from contractors.
The video was allegedly released to the public in October 2018 by the Publisher of Daily Nigerian, Mr. Ja’afar Ja’afar.
Recently, Ganduje had claimed the Kano State Government does not have the legal rights to prosecute him for the alleged bribery of $413,000 and N1.38 billion fraud.
He was reacting to the decision of the Kano State Government to file criminal charges against him.
Ganduje spoke in a statement issued by his Chief Press Secretary, Edwin Olofu.
The ex-governor maintained that it was only the office of the Attorney General of the Federation and the Economic Financial Crimes Commission (EFCC) that could charge him for the alleged offences.
“In their desperate attempt to malign me and my family, they either forgot or probably cannot conduct themselves by the dictates of the law.
“They failed to take judicial notice of the recent pronouncement of the Federal High Court in Kano, which ruled that the so-called offence I am being accused of is a federal offence that can only be prosecuted by the Attorney General of the Federation and the Economic and Financial Crimes Commission,” he said.
Meanwhile, a former National Vice Chairman, North West of the APC, Salihu Lukman, has called on President Bola Tinubu and other party leaders to revisit issues surrounding the disagreement between two former governors of Kano State, Rabiu Musa Kwankwaso and Ganduje.
Lukman in a statement issued in Abuja said, “Being progressives require honesty, which given current political reality we must accept that Senator Rabiu Musa Kwankwaso and his NNPP has a stronger support base in Kano State.”
“Noting that Senator Kwankwaso was in our party up to 2018 and acknowledging that between 1999 and 2019 both Senator Kwankwaso and Dr. Ganduje worked together, we need to revisit issues surrounding their disagreement,” Lukman said.
Speaking to DAILY POST, the Kano State Chairman of the New Nigeria People’s Party, NNPP, Hashimu Dungurawa, said that the State government has no hand in the ill fated suspension of the ex-governor from the APC.
Dungurawa, however, said the APC ward executives that announced the suspension of the APC National Chairman did a good job.
According to him, they were bonafide members of the APC and not NNPP, adding that their records were with the Independent National Electoral Commission, INEC, including the party’s headquarters.
Dungurawa further urged the APC to purge itself of individuals like Ganduje, saying his types were creating a bad image for the party.
He said: “That allegation is not true. All I know is that the executive members of APC in Ganduje ward have done a very good job by suspending their principal for two main reasons.
“One- there’s an investigation going on in Kano State. For the State to be sure, they have set up a body of inquiry on him because of his bad governance and alleged fraud.
“Two, the people of Ganduje Ward were accusing him (Ganduje) of not paying his dues as a party member, he wasn’t doing his party contribution.
“And there were allegations on him on the video that’s going round that he was syphoning money, dollars into his pocket.
“You know as a great people, people that came from a very high class family, they were very bitterly disturbed about fraud allegations against their principal.
“So it has been disturbing them and they have been having sleepless nights. That is why this committee of inquiry was set up by this government and said ‘let us probe this man so that we can have peace of mind’.
“These people that announced this suspension, they are bonafide members of APC; their names are in the Independent National Electoral Commission, INEC; it’s there in the party’s state headquarters; it’s there in the party’s headquarters in Abuja.
“If you go and get the certified true copy, you will get all the names they have mentioned. It’s the party that suspended him because of his bad attitude and action in the party.
“We in NNPP are doing a good job. If the APC wants to make their party great and clean in the eyes of the people, they have to remove Ganduje’s type from the party, so that the party will look innocent and decent, and people will rush into the party.”
When asked about Ganduje’s statement that Kano State Government does not have the legal rights to prosecute him for the alleged bribery, Dungurawa said: “That’s a lie. Did he offend the attorney general of the federation?
“He offended the Kano State people. And the governor of Kano State has the right to checkmate and call anybody or authority for any investigation.
“Nobody can stop him from doing that. So Ganduje offended people of Kano State. People of Kano State wanted him to be probed. So the government of Kano State was duty bound to call anybody that’s highly wanted.
“We cannot see the statement as an issue rather Ganduje must come to Kano on 17th and before the committee. We have to probe him. We are in charge.”
Meanwhile, efforts by DAILY POST to speak to Abdullahi Abbas, Chairman Kano State APC were not successful.
[DailyPost]