Oyo State Governor, Seyi Makinde has declared 20th August of every year as Isese Day in the state.
The Governor gave the approval on Friday.
Recall that traditional religion adherents in the state have in the last few years demanded their own public holiday.
They have asked the state government to declare 20th August as their own public holiday in commemoration of the Isese day.
The governor has now granted the request of the traditional religion adherents by declaring Monday, August 21, 2023 as the maiden public holiday to commemorate the day.
He added that every 20th August would be observed as a public holiday in commemoration of the Isese day in the state.
The governor made the declaration in a statement signed by the Secretary to the Oyo State Government, Professor Olanike Adeyemo.
The governor urged traditional worshippers in the state to use the occasion to pray for the peace, unity and stability of the state in particular and the country in general.
A Senior Advicate of Nigeria and human rights lawyer Femi Falana, has described the floating of the naira by the Central Bank of Nigeria (CBN) as illegal.
The CBN had instructed Deposit Money Banks to allow the naira to float freely against international currencies, collapsing all transactions to importer and exporter window. As such, the value of naira against foreign currencies is determined by market forces.
Consequently, the exchange rate hitherto fixed at around N460/$ now hovers around N700-N800/$.
Speaking on Channels Television’s Sunrise Daily on Friday, Falana kicked against the apex bank’s decision to float naira, saying it contradicted the CBN Act.
He said, “There’s no provision for floating the naira. It’s illegal. You say, ‘The value of the naira will be determined by market forces. That is not there in the law.
“I’ve had to sue the Central Bank of Nigeria at the Federal High Court because Section 16 of the Central Bank Act has imposed a duty on the Central Bank to fix and determine the rate of the naira vis-a-vis other currency.”
Falana noted that Section 20(1) of the CBN Act stated that the official legal tender in Nigeria is solely the currency notes issued by the Central Bank, specifically the naira.
He added that Section 20(5) of the Act stipulated that anyone who uses any other currency in Nigeria without the approval of the central bank committed an offence punishable by six months’ imprisonment.
Falana said until government officials took steps to strengthen the naira and make it the only legal tender in Nigeria, the country’s progress would be limited.
The Katsina State Police Command has successfully arrested a suspected rapist and killer responsible for the tragic death of an eight-year-old girl in Kanon-Haki village, within the Faskari Local Government Area of Katsina State. The suspect, identified as Jibrin Yusuf, is a 25-year-old male from the same locality as the victim.
According to ASP Sadiq Abubakar, the Police Public Relations Officer, Katsina Command, the suspect is alleged to have brutally murdered the young girl, employing a sharp knife to slaughter her throat, and subsequently disposed of her lifeless body on another farmland. Thereafter, concealed the tragic scene by covering the victim’s remains with leaves.
Aggravating, the situation further, ASP Sadiq revealed that Jibrin Yusuf made off with three bags of fertilizer from the premises.
Recounting the ordeal that led to the arrest of the suspect, the Katsina Police PRO said:
“On August 2, 2023, at about 14:30 hours, Hassan Jibrin, the father of the deceased, engaged the services of the suspect to transfer fertilizer between two of his farms situated on the outskirts of the village. The victim, entrusted with guarding the fertilizer, was left alone as her father attended to laborers on another farm. Taking advantage of the situation, the suspect forcibly abducted the innocent girl to a nearby farmland. There, he reportedly subjected her to a horrifying ordeal, involving rape and ultimately, slaughtering her.”
Sadiq continued, “After committing this heinous act, the suspect callously relocated the victim’s body to yet another farmland. He attempted to the tragic evidence by concealing the body beneath a cover of leaves and also made away with three bags of fertilizer, compounding his grave misdeeds.”
According to the Police PRO, the swift response of diligent detectives led to the apprehension of the suspect who in the course of investigation confessed to his reprehensible actions, noting that the stolen bags of fertilizer were also successfully recovered from the suspect.
Nigeria has approved a total of 180 billion naira ($235 mln) for its 36 states to procure rice and maize to cushion the effects of food shortages across the country and hardship caused by reforms, Borno state governor Babagana Zulum said on Thursday.
President Bola Tinubu has embarked on Nigeria’s boldest reforms in decades, including scrapping a popular but costly petrol subsidy and devaluing the naira, a move he hopes will boost growth.
But the actions have stoked inflation which climbed to an 18-year high in July. Food prices have soared due to widespread insecurity, flooding in farming areas, a weaker currency and higher transport cost, worsening a cost of living crisis in the country.
Nigeria will release its second-quarter growth data on Aug. 25, the first after Tinubu initiated reforms.
Zulum said 5 billion naira will be given to each state as partly a grant and a 2-year loan to buy 100,000 trucks of rice and 40,000 trucks of maize, he said after a National Economic Council (NEC) meeting headed by the vice president in Abuja.
“NEC … expressed serious concerns regarding increasing costs of food items, increasing costs of transportation, amongst others as a result of subsidy removal,” Zulum told reporters.
Tinubu is under pressure from unions to offer relief to households and businesses. Labour unions have criticised his ending of the fuel subsidy without measures to mitigate rising prices.
Last month, Tinubu announced a 500 billion naira package to boost employment and directed the release of more than 200,000 metric tons of grains to families to ease hardship.
Tinubu has said subsidy savings will be used to set up a fund to build infrastructure. The government plans to deploy mass transit buses powered by natural gas and electric vehicles with charging points in Nigeria to reduce transport cost.
[sabcnews]
The Founder of Stanbic IBTC Bank Plc, Atedo Peterside, has described the controversial ‘All Eyes On The Judiciary’ slogan as a neutral slogan that should ordinarily not offend a right-thinking person.
DAILY POST reports that the All Eyes on the Election Tribunal Judges narrative began as a social media campaign by supporters of the Labour Party, LP, Presidential candidate in the 2023 general election, Peter Obi.
As the Court prepares to deliver its verdict on the petitions challenging President Bola Ahmed Tinubu’s victory, Nigerians in the ‘Diaspora for Good Governance’ put out the campaign to push for purported justice.
Following the popularity of the slogan recently plastered on billboards across Nigeria, the Federal Government disbanded the Secretariat of the Advertising Standard Panel, ASP for approving it, claiming it was offensive to the judiciary.
The Director-General of the Advertising Regulatory Council of Nigeria, ARCON, Dr. Olalekan Fadolapo ordered the removal of the billboards nationwide, insisting it was a blackmail on the Presidential Election Petition Tribunal.
Speaking of the development on X, formerly known as Twitter on Friday, Peterside wrote: “For the record, methinks #AllEyesOnTheJudiciary is a neutral slogan that should ordinarily not offend a right-thinking and sincere person in a civilised society.”
President Bola Ahmed Tinubu has said the task of keeping Nigeria one remains his priority, stressing that the current challenges bedeviling the nation are temporary. Speaking during the public presentation of a book, “Brutally Frank”, authored by a former Minister of Information, Edwin Clark, on Thursday in Abuja, Tinubu said Nigeria is complex, but not too difficult to manage.
The president who was represented by the Secretary to the Government of the Federation (SGF), Senator George Akume, said, “To keep Nigeria one is a task that must be done.
“This country is complex, but can never be too difficult to manage. Our diverse cultures and religion constitute a source of our strength.”
The president said the current pain caused by the removal of fuel subsidy is temporary, stressing that the pain would soon go with the rolling out of the palliatives.
The Emir of Kano, Ado Bayero, said, “We have a lot of challenges; a lot of ups and downs. Our leaders should use their wisdom to keep the country united so that we can get relieved of the challenges we are facing.”
Former President Goodluck Jonathan, in his remarks, eulogised Clark, saying he has written his name in gold because of his contributions and struggles for the oneness and peaceful coexistence of the country.
Chairman of the occasion and former Head of State, Gen. Yakubu Gowon (rtd) said, “I am hopeful that the younger generations will be better informed on our experience which has brought the country to what it is today, on which our president, Bola Ahmed Tinubu, who is here with us, represents the centre of our common aspirations of peace, unity and progress.”
Niger Junta leaders reportedly evacuate their Families to Dubai, Burkina Faso ahead of ECOWAS intervention
AdminThere are strong indications that members of the Niger junta have begun to evacuate their families to Bukina Faso and Dubai over the threat of invasion by the Economic Community of West African States.
The exercise was, reportedly, carried out at the country’s Agadez Airport, a few days ago, and it involved Gulfstream G550 jets.
A source familiar with the movement said, “In the night of Friday, 11th to Saturday 12th of August 2023, the Nigerien junta, under the command of General Tchiani, evacuated all the putschists’ families. Indeed, several Gulfstream G550 type aircraft (in particular flight No. BFY824R) took off from Agadez Airport to Burkina Faso and Dubai with their women and children on board.”
According to the source, “General Tchiani appears to have had intelligence of an imminent attack by ECOWAS. He protects his family and leaves Nigerien people behind to a certain death. While he shelters his family, Tchiani is ready to send soldiers into a fratricidal war.
“Like any selfish and totalitarian putschists, he already uses state finances for personal purposes. It is at the expense of the Nigerien state that he sends his family to live richly under the Dubai sun. The junta does not hesitate a moment to set ablaze Niger while preparing a golden exit in Dubai.”
This is as ECOWAS said it was ready to intervene militarily in Niger Republic if diplomatic efforts to persuade the ruling military junta, which ousted President Mohamed Bazoum in a July 26 coup, to restore democracy in the country failed. ECOWAS Commissioner for Political Affairs, Peace and Security, Abdel-Fatau Musah, disclosed this Thursday in Ghana at a gathering of West African defence chiefs, who were meeting to deliberate on a standby force.
“Let no one be in doubt that if everything else fails, the valiant forces of West Africa…are ready to answer to the call of duty,” Reuters quoted Musah as saying. “By all means available, constitutional order will be restored in the country,” he added
Nigeria’s Chief of Defence Staff, General Christopher Gwabin Musa, said at the start of the two-day meeting in Accra, “Democracy is what we stand for and it’s what we encourage…
“The focus of our gathering is not simply to react to events, but to proactively chart a course that results in peace and promotes stability.”
The meeting to discuss Niger’s crisis came after the August 6 deadline for the mutinous soldiers to release and reinstate Bazoum or face military intervention. Bazoum has remained under house arrest with his wife and son in Niger’s capital, Niamey.
ECOWAS had long deliberated on the use of force, which it described as a “last resort” due to several mediation teams it sent to Niamey and also for a lack of consensus within its ranks.
Burkina Faso and Mali, which have experienced multiple coups since 2020, warned that any military intervention in Niger would be declared as an act of war, revealing a fracture in the region between its coastal countries and those in the volatile Sahel.
Guinea, which is also under military rule and had condemned any external aggression, refrained from making any other comments.
The top security body of AU met on Monday to consider whether it would support military intervention, but had yet to make its decision public.
The AU’s Peace and Security Council could overrule a military intervention if it feels the wider stability on the continent will be threatened. If it rejects the use of force, there are few grounds under which ECOWAS can claim legal justification.
[OPINION] The Complex Quandary Of Niger: Balancing ECOWAS Tensions And Western Entanglements - Muhammad Danjuma
AdminThe recent coup d‘état in Niger has propelled the nation into one of the most intricate and challenging situations it has faced, not only within its own history but also across the entire West African region.
This coup, executed by a military faction lacking both organization and foresight, can only be aptly described as a chaotic and misguided endeavor. In the aftermath of the coup, these military leaders found themselves aligned with an unexpected partner, seeking assistance from the infamous Russian mercenary group known as Wagner.
Regrettably, the motives behind this coup were far from noble or aimed at national progress. The turmoil was fueled by internal disputes, specifically stemming from the discord between a bodyguard and the individual under their protection, with ethnic undertones further exacerbating the situation.
While I remain unconvinced of the merits of the military intervention by the Economic Community of West African States (ECOWAS) in Niger, I strongly advocate for the bolstering of our own armed forces to combat domestic terrorism across various regions of Nigeria.
Nevertheless, what lies ahead for Niger, even without the prospect of ECOWAS intervention to reverse the coup? Will the outcome be favorable? Unfortunately, the answer is far from optimistic. The nation‘s predicament can be likened to the challenge of marrying off a handicapped woman to a distant destination like a ten-story building.
The soldiers who, through brute force, seized control of Niger, declared their intention to forge a close alliance with Russia—a move that coincides with Russia‘s ongoing conflict with the West, particularly in its engagement with Ukraine.
However, the pertinent question arises: will Western powers permit Niger to align itself with Russia? Given the existing global scenario, where the United States and its Western allies have united against Russia, does Niger possess the necessary economic and military prowess to engage in a confrontation and challenge the dominance of Western European influence on its soil?
The soldiers who have taken charge in Niger have inadvertently plunged the nation into disarray, wedged uncomfortably between two opposing forces. The situation presents a grim dichotomy: either ECOWAS intervenes militarily to reinstate the ousted government, potentially sparking an interminable conflict, or the pressure exerted by ECOWAS member parliaments dissuades the use of military action, leading to ECOWAS abandoning the impending war altogether.
Should ECOWAS withdraw its involvement, the Western powers are likely to devise their own strategies within the nation, potentially exacerbating the crisis by instigating a civil war and thwarting any prospect of lasting peace. In such a scenario, Niger would inevitably turn to its neighboring countries for support, with Nigeria playing a pivotal role. Alternatively, a group of ambitious soldiers might once again alter the governmental landscape in a bid to quell the turmoil before it escalates further. Yet another option is for the coup-instigators to recognize the futility of their current path—a path that offers no escape, akin to a mouse trapped in a hole, not a rabbit hole with multiple exits. Engaging in reconciliation talks and relinquishing power could potentially secure immunity from prosecution.
In every conceivable manner, a faction of soldiers has propelled Niger into a precarious abyss, the repercussions of which are felt not only within West Africa but across the entire global stage.
Since the July 26 coup, Niger has become the latest hotbed of disinformation in the troubled Sahel region as West African powers grapple with crafting a response to the political crisis.
From false rumours and misleading videos to manipulated audio clips, more than a dozen social media claims either backing or discrediting the coup leaders after they toppled President Mohamed Bazoum, have been debunked.
Soon after his removal, amateur footage of a large march surfaced online purporting to show a pro-Bazoum rally in Niger’s capital Niamey on August 6. In reality, the clip was filmed on the day of the president’s removal from power.
Another viral video allegedly featured Niger’s deposed finance minister crying after coup leaders gave him an ultimatum to account for missing funds or face death.
But Agence French Presse found the clip was from 2021 and in fact showed Niger’s former Justice Minister Marou Amadou expressing his gratitude to ex-President Mahamadou Issoufou.
Misleading reports about foreign interference in the crisis are rising as uncertainty mounts over the possibility of the Economic Community of West African States (ECOWAS) using military force to reverse the coup.
The regional bloc, chaired by Nigerian President Bola Tinubu, was quick to condemn Bazoum’s removal and pile sanctions on Niamey days after the takeover, with Nigeria – Niger’s main electricity provider – cutting off supplies.
There were also false claims about French fighter jets landing in Senegal to support a possible ECOWAS intervention, or about fighters from the Russian mercenary group Wagner and Burkinabe troops arriving in Niger to support the new leaders.
The coup meant landlocked Niger joined neighbours Mali and Burkina Faso to become the third Sahel country to experience a coup in as many years.
Like elsewhere in the region, anti-French sentiment has been rising in Niger. Its new military leaders have the support of fellow ex-French colonies Mali and Burkina Faso, which have turned their backs on Paris in favour of closer Moscow ties.
In May, Bazoum told British newspaper The Independent that Wagner had been sponsoring “disinformation campaigns against us”.
Some analysts, however, said there were few signs of organised, large-scale offensives aimed at spreading false content as seen in other African nations.
Disinformation about post-coup Niger did not seem “particularly well coordinated or centrally managed”, said Ikemesit Effiong, an analyst at the geopolitical consultancy SBM Intelligence in Nigeria.
Nonetheless, coup supporters have “largely amplified the threat of conflict with ECOWAS, particularly Nigeria as well as France, to mobilise support online and on the ground” in a region where “anti-imperialist and anti-Western views are popular and an easy sell”, Effiong said.
Experts told AFP that the spread of disinformation targeting Niger mirrored a pattern already witnessed elsewhere on the continent: it usually originates on encrypted platforms like Telegram and WhatsApp before being shared on other social media apps.
Moreover, several anti-French and pro-Russian accounts that post propaganda about Mali and Burkina Faso have also promoted false claims about Niger.
One such actor is the Pan-African Group for Trade and Investment (GPCI), a media firm founded by pro-Russian businessman Harouna Douamba, originally from Burkina Faso.
The GPCI is at the heart of a vast network of websites and Facebook pages pushing disinformation to further stoke tensions, according to the All Eyes on Wagner investigative consortium.
For instance, AFP found that one of its accounts recently alleged that France was preparing a “plot to destabilise” Niger and arm “terrorists”.
The GPCI also posted warnings about an imminent military intervention on “suspicious sites involved in spreading disinformation” in Chad and Nigeria, for example, according to a French analyst who runs the well-known Casus Belli account on X (formerly Twitter), which monitors suspicious content in Africa.
The analyst, who spoke to AFP on condition of anonymity for safety reasons, said the pan-Africanist TV channel Afrique Media was also involved in the disinformation drive.
The Cameroon-based broadcaster has partnered with state-owned Russia Today and regularly reports on Wagner operations in Africa.
On August 9, the channel shared a video purporting to show Bazoum looking relaxed after allegedly signing a resignation letter.
However, the deposed leader has been held prisoner at his home since July 26, with United Nations Secretary-General Antonio Guterres denouncing “the deplorable living conditions that President Bazoum and his family are reported to be living under”.
The current wave of disinformation is as much the work of local actors as of foreign influences, said Maixent Some, a Burkinabe financial analyst who tracks Africa-linked disinformation on social media.
“There was an anti-French feeling long before the arrival of Russia” and Moscow was able to capitalise on this sentiment, he told AFP.
Meanwhile, some analysts said pan-African activists are using their alliance with Russia to further “personal agendas”, including political ambitions.
SOURCE: AFP
The Internally Displaced Persons from farming communities in Wushishi LGA of Niger State have reportedly resorted to street begging to get food to eat.
The Council Chairman, Mohammed Kpoti Yelwa made this known while distributing food items as emergency intervention to the IDPs who fled their homes, following last Friday’s invasion of some villages in the local government by bandits.
He lamented that unending attacks have subjected farmers who had food in abundance in their homes to the undignified condition of street begging for food.
Some of the IDPs, Umar Danladi Musa, Hajiya Habiba Mohammed Tashan-Jirgi, and Hamza Mai-Anguwan Kutunku, said during the three-day invasion of their homes, bandits carted away their foodstuffs and other valuables.
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A political analyst and public commentator, Mahdi Shehu has slammed President Bola Ahmed Tinubu over the distribution of portfolios to Ministers-Designate.
In an interview on Arise TV, Shehu accused the president of repeating the same insensitivity displayed by his predecessor, Muhammadu Buhari.
He stated that Tinubu highly favoured the Southwest and South-South, while refusing to give same favour to the South-East because they refused to support him in the 2023 presidential election.
According to Shehu, Tinubu may have favoured the South-South to compensate former Rivers State Governor, Nyesom Wike and ex militant warlord, Asari Dokubo.
He said, “At Tinubu’s coming there were serious objections, serious exasperations. 14 million people said they didn’t like him. There were so many questions surrounding him, around his education, his personality, etcetera. He should have factored all these into consideration. He would have acted differently but he decided to act in the same way, in the same manner, style and in the same spirit as Buhari. Between Buhari and Tinubu there is no difference.
“Look at what goes to the South-West from the list, the acting Central Bank of Nigeria (CBN) is from the South- West, all commercial banks, all financial institutions, 90 percent of microfinance banks, shippers’ council, and communications. Under communications, you have the Nigeria Communication Commission (NCC), NIPOST. The coordinating Minister of the Economy, Accountant General, Auditor General, all MDAs, Marine, Agro-economy, Power, Solid Minerals, Petroleum, and Justice, in addition to being the senior Minister of Petroleum, also the President and calling the last shot.
“He also took Health, Environmental, and Ecology, a total of 12 senior Ministers and eight junior Ministers. If you have a mental picture of what he gave to the South- West, it is like you have the Oduduwa Republic in the making.
“He is carving the way for the Republic of Biafra and forcing the north to consider being annexed by the Niger Republic or Cameroun. It is a matter of Buhari’s insensitivity being repeated.
“If you go to the South- East, what you have in the South-East is similar to what you have in Matthew Chapter 16 verses 26 and 28. The South-East was given the crumbs. Ministry of Works, senior, Women Affairs, senior, Labour, junior, Trade, senior, Ecological, senior. Put together these, and they’re not up to the Nigeria Ports Authority (NPA). In other words, they are telling the South-East to think twice about Obi, next time around. That is your crime.
“The story is different from the South-South. If you go to South-South, Aviation, senior, youth, senior, FCT, senior, Humanitarian Affairs, senior, Sports and Petroleum, junior. What are they saying? It is as if they are saying, Mark chapter 1 verse 11, which says, “You are my sons I love, in whom I am well pleased”.
In a stark twist of events over the past 24 hours, digital asset speculators have incurred losses totalling $1 billion as the digital asset market undergoes one of its most significant selloffs this year, causing the price of bitcoin to plummet to its lowest level in three months.
Within this short span, as many as 176,374 traders have been liquidated, resulting in a loss of approximately $1.04 billion.
CoinGlass analytics reflect that roughly $821 million in long positions, indicative of traders wagering on upward market movement, have been wiped out due to the sudden and precipitous exit.
Of this, bitcoin traders are grappling with the most substantial losses, with long-term liquidations amounting to $472 million, followed by ether with $302 million.
Liquidation is a mechanism wherein exchanges close leveraged trading positions due to either partial or complete depletion of a trader’s initial or “margin” funds.
This action is typically taken when traders fail to meet margin prerequisites or lack sufficient funds to maintain the trade.
Simultaneously, the cryptocurrency market’s decline aligns with the retreat of riskier global assets, as investors seek extended periods of higher yields.
The backdrop of these market movements has been further complicated by reports suggesting Elon Musk’s SpaceX may have been selling its Bitcoin holdings, fostering additional unease.
Speculation around SpaceX’s purported Bitcoin sales – an assertion yet to be substantiated – has arisen. In tandem, there are conjectures linking the market downturn to China Evergreen’s bankruptcy.
Notably, a report by The Wall Street Journal clarifies that SpaceX is merely updating the valuation of its Bitcoin assets.
Bitcoin, experiencing a 10% loss, appears to be on track for its most substantial weekly decline in three months, having bottomed out at $25,314.
This depreciation stems from the previous day’s valuation of $28,947, with the ascent of global bond yields curbing the appeal of alternate investments like digital tokens.
Marking a notable milestone, Bitcoin’s market valuation has descended below $500 billion for the first time since June 16, reaching its lowest point since June 20.
The cryptocurrency market has been caught in a downward spiral since mid-July, coinciding with the surge of the US Dollar Index over the same period.
Historically, the anticipation of higher interest rates has prompted downturns in the cryptocurrency market, possibly explaining the decline on August 17.
Factors influencing the market’s retreat include the persistent escalation of global interest rates, notably in the United States, where the 30-year Treasury note soared to 4.42%, marking its highest level since 2011.
Meanwhile, the 10-year yield of 4.32% has risen by a single basis point from its 15-year peak.
Implying future actions, the forward rate of the federal funds rate predicts the first rate cut somewhere between May and June 2024, while the Fed rate is anticipated to remain within the prevailing range of 5.25% to 5.50% until that juncture.
Despite these challenges, market indicators suggest that the valuation of the crypto market is nearly oversold, with the daily Relative Strength Index (RSI) hovering around 34, slightly above the customary threshold.
This implies that the market stands a fair chance of stabilizing or recuperating in the impending days.
Prominent investment research firm Fundstrat has ventured that the price of Bitcoin could potentially exceed $150,000 by the culmination of 2024, subject to the approval of the ongoing batch of Bitcoin spot exchange-traded funds (ETFs) in the United States.
The Debt Management Office (DMO) of Nigeria has announced a subscription offer for the FGN Savings Bond for August 2023.
This Savings Bond is to provide Investors with an opportunity to earn competitive interest rates while supporting the country’s economic development.
The subscription offer includes two options:
- 2-Year FGN Savings Bond with a maturity date of August 1,6th, 2025, with an annual interest rate of 9.634%.
- 3-Year FGN Savings Bond due on August 16th, 2026, offering an annual interest rate of 10.634%.
These rates offer a negative real return as they are well below the national inflation rate of 24.08% for July 2023.
Other details:
- The subscription period for the FGN Savings Bond opened on August 7th, 2023, and will close on August 7th, 2023.
- The total amount allotted for the 2-year bond is N421.76 million while that of the 3-year bond is N1.06 billion.
- Once subscribed, bondholders will receive coupon payments at regular intervals. The coupon payment dates are scheduled for November 16, February 16, May 16, and August 16.
The Federal Government of Nigeria Savings Bond program is designed to attract domestic savings while simultaneously financing critical infrastructure projects and government initiatives.
- By investing in these bonds, individuals and organizations can contribute to the country’s development efforts and earn favorable returns on their investments.
- Interested investors are advised to contact their financial advisors or visit the Debt Management Office’s official website for further details and application procedures.
A magistrate court in Abuja has convicted and jailed a lawyer for six months over defamatory publication against the Dangote Cement Plc.
The convict, Augustine Addeh, of the law firm, Mokidi and Co., had caused the publication of an advert in the Nation Newspapers of Friday November 6, 2015, where he falsely alleged that the Dangote Cement caused the invasion of Okpella Community with armed gangsters on October 30, 2015.
The convict, in the publication, also sought to debar the company’s enlistment on the London Stock Exchange, and other stock markets around the world.
The sponsor of the defamatory publication purported that the company caused terrorists to block the Okpella-Benin road which resulted in sporadic shooting, while also causing the death of an innocent person.
Following a petition signed by the Dangote Cement’s Representative, Ahmed Hashem, to the Inspector General of Police(IGP), the originator of the damaging advert was arrested and arraigned in the magistrate court sitting in Abuja.
The convict was thereafter tried for offences of criminal conspiracy, defamation and intimidation punishable under the penal code.
Delivering judgment in Dutse Alhaji, Abuja, on the suit on Thursday August 10, 2023, the Magistrate, Muhammaed Omeiza Tahir, held that the prosecution proved its case against the sponsor of the libelous publication.
A copy of the judgment revealed that, the Magistrate, Muhammaed Omeiza Tahir, held that investigation shows that the publication was false, malicious and damaging to the Dangote Cement Plc.
The Magistrate ruled that the elements of defamation have been established by the prosecution.
He therefore sentenced the convict to six months imprisonment.
He added that the convict will also publish a public apology in some national newspapers within two weeks of the ruling, failure of which he will be jailed for three months without an option of fine.
Meanwhile, a statement from the Dangote Group signed by the Group Chief Branding and Corporate Communication Officer, Mr. Anthony Chiejina, said the company has a robust relationship with its host communities in Nigeria, and will continue to nurture and cherish the bond.