Governor Hyacinth Alia of Benue State has charged the Assets Recovery Committees to ensure recovery of all government property stolen under his predecessor.
Alia tasked the committee to recover all assets belonging to the state government but had been illegally taken away by the immediate past administration of Governor Samuel Ortom.
He gave the charge at Government House in Makurdi during official inauguration of the Chairman and members of the State and Local Government Assets Recovery Committees.
“It’s not to victimise or witch hunt anybody but it’s the right thing to do to account for all government assets,” he added.
The governor noted that the constitution of the committees became necessary considering the large number of cars that were hitherto seen with former government officials but are nowhere to be found.
Alia added that he received allegations of conversion, abuse, and outright stealing of government property and assets and, therefore, find it appropriate to set in motion the machinery to recover all that had been illegally taken away.
He listed the items to be recovered to include all government’s land, vehicles, houses, furniture and other machinery as well as to determine all unctions of government property and assets done between March 1 and May 29, 2023 by various government MDAs without due process.
Responding on behalf of the committees, the Chairman, Hinga Biem, promised pledged their service and support to the governor and the state.
Bayelsa State Deputy Governor, Senator Lawrence Ewhrudjakpo, has said Nigeria is not progressing because of the greed and selfishness of the majority of the country’s leaders.
Senator Ewhrudjakpo stated this on Friday during the Literary Swansong and Day of Tributes organized in honour of the late Paramount Ruler of Tombia Community, HRH Christian Atani Otobotekere, at the Chief DSP Alamieyeseigha Banquet Hall, Government House, Yenagoa.
He said despite the nation’s huge pool of material and human resources, the nation is still backward among the community of nations.
He lamented that selfishness had been the bane of progress in the country, stressing that every progressive nation has leaders who are not only patriotic but selfless.
Describing the departed foremost traditional ruler and educationist, popularly known as The Poet King, as a man of impregnable integrity, he urged the political class to emulate people like Chief Otobotekere to make positive impact in society.
He said the lifestyle of the late nonagenarian was devoid of greed and selfishness, which enabled him to lead the Tombia community for about 50 years and his native Ekpetiama Kingdom as the head of the clan for 14 years without recording any major intra or inter-communal crisis.
He said: “Selfish countries are less progressive. Nigeria is not progressing because of the greed and selfishness of most of her leaders over the years.
“The less selfish a country’s leaders are, the more progressive it becomes, and vice versa. Our father whom we have all come to honour today, clearly lived an impactful life.
“He was not greedy. He was not also selfish. And so, we really have to imbibe and follow the footsteps and positive legacies of people like him for us to be able to make good progress in this country.”
Senator Ewhrudjakpo also applauded the deceased for contributing immensely towards the intellectual development of Bayelsa State and the Niger Delta region in general through his outstanding literary works.
He equally commended Chief Otobotekere’s children for the elaborate celebration they put together for their father at his 97th birthday, adding that it is more worthy to celebrate a great man while he is alive than to do so when he had passed on.
Responding to some of the recommendations made by the reviewer of the 14 books written by the late Otobotekere, the Deputy Governor noted that the poet king deserved to be immortalized not just for a decade as recommended, but for as long as Bayelsa remains.
Earlier in his remarks, the Chairman of the occasion, Dr Seiyifa Koroye, underscored Otobotekere’s contributions to literary development of society, with several anthologies comprising no fewer than 400 poems.
Dr Koroye, who described Otobotekere as a compassionate and true leader of men in all spheres of life, appealed to the Bayelsa State Government to institutionalize a biennial writers’ festival named after the literary icon to immortalize him.
In his 30-minute book review, Professor Kontein Trinya of the Ignatius Azuru University of Education, Port Harcourt, stressed that although Otobotekere’s creative writings had not been streamed in the global literary screen, his works were quite outstanding, especially in the genre of poetry.
The new Chief of Defence Staff, Maj.-Gen. Christopher Musa, on Friday threatened that troops of the Nigerian Military would go all out against the marauding bandits, terrorists and other adversaries disturbing the peace of the country.
Maj.-Gen. Musa, who disclosed this at Defence Headquarters, Abuja, when he officially took over from Gen. Lucky Irabor (rtd) said the determination of the military to secure the country should not be in doubt.
“As the CDS, my promise to Nigeria is that we’ll continue to improve on our mandate of sustaining peace and tranquility in our country. We assure every Nigerian to feel safe that the Armed Forces of Nigeria are up and doing, we are highly professional and we are going to be there for them.
“Nobody should doubt our determination to bring peace to Nigeria. Anybody, especially the criminals, bandits, terrorists, anyone who thinks otherwise should be ready to face the music.
“The Nigerian armed forces will come out in full force while safeguarding the safety and security of the citizenry. That I’ll assure you,” he said.
The Defence Chief pledged that he would not take the issues of welfare of the frontline troops and entire personnel for granted, saying such would enable the military get the best from them.
He said, “Issues of welfare have been addressed. But you know we cannot be 100 per cent (perfect). So, we’ll continue from where they stopped. We’ll ensure our troops, our men wherever they are, they will never be left alone.
“We will ensure we give them what they need, what they require and we’ll take care of the issue of administration which is paramount because a soldier that is well fed, well-taken care of will give you the best, so they should not doubt we are here and we are ready and we are willing to do that.”
Speaking earlier, the former CDS, Gen. Lucky Irabor, urged Musa to ensure the value and professional standards of the military is retained.
He said, “I am handing over to an officer who is tested and by all standard a model for the armed forces. I appreciate the president for finding Major General Musa very suitable to take over the reins of the armed forces.
“I ask that you redouble your efforts so that the cherished values and professional standard be maintained. Quite a lot has been achieved, looking at the mood of the armed forces that will help you and your team of service chiefs to ensure that the professional standard of the armed forces is retained.”
The Trade Union Congress (TUC) has urged the Federal Government to prioritise slashing the cost of governance, noting that it will help save more money for the government to tackle other needs.
The TUC President, Festus Osifo, gave the advice while speaking as a guest on Channels Television’s Sunrise Daily on Friday.
Osifo added that the money saved from the removal of fuel subsidy should be harnessed to take care of the most vulnerable Nigerians.
“The government has told us that they are going to save a massive amount of money when the subsidy is removed. So, part of this money should also go to taking care of Nigerians, especially the vulnerable,” he said.
Osifo urged the government to be proactive in exploring opportunities to generate more revenue for the nation.
“Crude oil is being sold in dollars (USD); when they were repatriating the money before now, the exchange rate was around N460 to a dollar. But today, it is going to be about N700, which means that there would be much more naira available to the government,” he said.
“More importantly is that, as a government, they must be creative. As a government, they must be innovative; they must put on their thinking cap and be able to grow the revenue of the country.”
He recalled that the present administration had in their campaign promised an increase in revenue generation and the growth of the country, adding that it was also their responsibility to think through and make it work.
The TUC leader expressed optimism that the labour union would not lose grip of their demands to the Federal Government, saying, “We know we cannot get 100 percent of the demands (in the) negotiation; we know our minimum set point.
“If the cost of governance is reduced, they would be able to save some money from that and if they do all these other things we have said, we believe that funds will be available.”
He added that the labour union and FG would continue the negotiations on June 26.
Nine associates of an embattled former Chairman of the Park Management System, Oyo state, Mukaila Lamidi a.k.a Auxillary have been remanded in prison for alleged conspiracy, armed robbery, attempted murder and unlawful possession of firearms.
The suspects are, Olaniyi Abiodun, Kamoru Yusuf, Odunayo Ismaika, Kolawole Joshua and Oladosun Kunle.
Others are, Fatai Abidemi, Oluwoke Akanbi, Sarafadeen Adewale and Tirimisiyu Odunayo.
They were arraigned on a 16 count charge at Ibadan Magistrate Court, Iyaganku on friday but pleaded not guilty to all the charges.
The charges are, conspiracy, armed robbery, an attempted murder and unlawful possession of fire arms.
They were alleged alleged of attacking, maiming and dispossessing people of their valuables running into millions of naira in Ibadan
The charge sheets read in part, “That you, ( suspects) and others now at large on 29th May 2023 at about 14:00 pm at Governor Seyi Makinde”s residence, Ikolaba area, Ibadan in the Magistrate Court District did conspire together to commit felony to wit armed robbery and, thereby committed an offence contrary to and punishable under section 6 (B) of the robbery and firearms (Special Provision) Act Cap R 11 Vol 14 Laws of the Federal Republic of Nigeria 2004.”
The defence counsel, Barr J. D. Olaniyan argued that the Court lacks jurisdiction to hear the case noting the charges levelled against his clients.
He, thereby, prayed the Court to remand the suspects at Agodi Correctional Centre, pending the time that the case would be assigned to a competent court of law for hearing.
His argument is that their counsels families and relations would have access to them at Agodi Correctional Centre, Ibadan.
He argued further that the “Court lacks jurisdiction to entertain the case with the nature of the charges which ranges from attempted murder to armed robbery.
“I, therefore, pray the Court to remand them at Agodi Correctional Centre for accessibility and convenience.
“This will make it easier to their counsels to prepare their defence as well bail application.”
In his ruling, Magistrate, S.H. Adebisi said the Court lacks jurisdiction to hear the case noting the charges ranges from conspiracy, armed robbery to attempted murder which is a capital offence.
He, therefore, ordered them to be remanded in prison and subsequently adjourned the case till 26th July 2023.
Families and relations who thronged the Court broke down in tears as they watched helplessly as suspects were been led to the NCS waiting van.
The Governor of Borno State, Prof. Babagana Zulum, has raised the alarm over renewed attacks by suspected Boko Haram terrorists on farmers in communities within the state.
Zulum, in a condolence visit Friday to five communities in Jere and Mafa local government areas (LGAs) where eight farmers and scavengers were brutally murdered, alleged sabotage of efforts to restore security to the troubled state.
Before the murder of eight scavengers and farmers on Thursday in Shuwari, Kaleri, Tamsu Ngamdua, Baram Karamwa, and Muna communities, there had been similar attacks on farmers in Borno communities in recent weeks.
A top military source within the army confirmed to Channels Television that the murder of about 16 farmers in Molai and Kayamla communities was because they went 11 km away from the stipulated area earmarked for farming activities which they had been warned against.
However, Zulum revealed that there was an attempt to sabotage the counterinsurgency fight of the Federal Government and the military.
Also, the governor expressed concern over the inconvenience farmers underwent before reaching their farmlands, noting that for them to have access to more farmlands, military roadblocks along Maiduguri/Mafa Road will be moved further.
He also charged the farmers to remain resilient, assuring them that his administration would convene a security meeting to devise a means to tackle the insecurity, including the re-establishment of agro-rangers and a joint security task force.
New strategy: IGP Egbetokun Brainstorms With Strategic Police Commanders - Makes First Appointments
AdminOlukayode Egbetokun, the acting Inspector-General of Police, has presented a new police plan for the Nigeria Police Force.
During the inaugural conference with Strategic Police Managers, which included members of the Force Management Team, Assistant Inspectors-General of Police, Commissioners of Police, and other Heads of Police Formations in the nation, today, Friday, June 23, 2023, at the Goodluck Ebele Jonathan Peacekeeping Hall, Force Headquarters, Abuja, the IGP made public the new strategy intended to achieve operational successes and restore public trust.
The IGP’s policing vision focuses on upholding Nigeria’s legal framework, combating crime, and creating a specialized Quick Intervention Squad with trained members.
The acting Inspector General of Police, Olukayode Egbetokun, has also appointed a Commissioner of Police, Tunji Disu, as his Principal Staff Officer.
Sanwo-Olu’s Deputy Allegedly Swore In US To Renounce Nigerian Citizenship
The appointment, which is with immediate effect, was revealed through a police signal made available on Friday.
Mr Disu is the immediate past ommander of the Force Intelligence Bureau, Intelligence Response Team of the Nigeria Police Force.
CP Disu is a graduate of English Education from Lagos State University. He was born on Lagos Island, Lagos State, on April 13, 1966.
He holds two Masters degrees, one in Public Administration from Adekunle Ajasin University, Ondo State, and the other in Criminology, Security and Legal Psychology from Lagos State University.
He joined the police on May 18, 1992. He has attended several professional courses both at home and abroad, including Small Arms Smuggling Training in Botswana; Internet Fraud Training at Cambridge University, UK; Strategic Leadership Command Course at the Police Staff College, Jos; and Forensic Investigations and Criminal Intelligence Course at the University of Lagos, amongst others.
Disu was appointed as Commander, Police Intelligence Response Team, on August 2, 2021, by former IG, Usman Baba, following the suspension of embattled DCP Abba Kyari.
Prior to that, he was the Commander, Rapid Response Squad, Lagos State, where he led a team that made several arrests of criminals, especially fraudulent persons.
He was at one time the Deputy Commissioner of Police, Department of Operations, Force Headquarters, Abuja.
He also served at the State Criminal Investigation and Intelligence Department, Rivers State, as the second in command of the unit.
He was also a former commander of the Nigeria Police Contingent to the African Union Peacekeeping Mission in Darfur, Sudan.
A Civil Society Organisations, Partners for Electoral Reform has faulted a recent call by a former President of the Nigeria Bar Association (NBA) Olisha Agbokoba (SAN) calling for the sack of Prof Yakubu Mahmoud, Chairman of the Independent National Electoral Commission (INEC).
Olisha Agbakoba (SAN) had asked President Bola Tinubu to sack the INEC boss, hinging his call over claims of poor logistics arrangements by the electoral body during the recently concluded 2023 elections.
But convener of the CSO, Ezenwa Nwagwu while addressing journalists on Thursday in Abuja faulted Agbakoba’s call, saying that anybody who followed the 2023 election would have been able to know the context in which that election was held.
He said, “The issue of the unnecessary colouring of the naira, which brought about shortage of cash both for citizens and for institutions, and an organisation like INEC that its activities actually depend on vendor relationship.
“That catastrophic policy of the central bank was a setback for logistics for the election. We also know the issue of fuel scarcity during that period. The circumstance around that election was held around the period of fuel scarcity and the rest of them.”
Ezenwa said while it is true that the election experienced some challenges, the positives far outweighed the negative outcomes
Ezenwa said being a Senior Advocate of Nigeria does not confer knowledge of electoral issues, adding that “You have to have a painstaking participant engagement with the process to be able to understand it.”
He said under the kind of climate which the election held, “somebody who is a participant observer in election issues should not make the kind of call that Chief Olisha Agbokaba made, and even more importantly, he also said he made a shocking discovery. A shocking discovery that our election is manual and I asked him ‘Where have you been?’ if as a senior advocate of Nigeria you don’t know that election in Nigeria is manual, then it means that you have no right to make a call on issues that are not very substantive. And Senior Advocate of Nigeria does not confer knowledge of electoral issues.”
He noted that over the years the issue of logistic challenge is something INEC has not been able to cure because Nigeria is a large country. He, however, explained that with the naira policy, And we’re also now battling with issues of insecurity, banditry in some parts of the country.
Ezenwa said while INEC seems to be taking all the heat, the political class are being excused for their roles in electoral violence and voters’ apathy experienced during the election
“I’m not saying that there were no issues. An election is not a church service. Election is a competitive enterprise. We give comfort to the real people who cause challenges in the election. INEC does not cause voter suppression. Politicians do this in collaboration with disgruntled INEC officials, right?
INEC does not unleash violence, politicians unleash violence. Now 90% of the time in discussing 2023 election, you focus on INEC, you leave the role of security agents. You leave the role of the political parties and their candidates and the role they play in making bad elections.
“INEC will bring its ballot box to the most remote part of this country that will be ballot box there. INEC d officials were killed in 2023, they are Nigerians. INEC were kidnapped. By whom? Who kidnapped them? Who murdered them? We provide comfort for the political class and their inability to embrace reforms and conduct themselves in a manner that allows for free and fair election.”
The Oyo State Government has again called on street traders to vacate the roads or face sanctions, especially within the Ibadan metropolis.
The Permanent Secretary, Ministry of Environment and Natural Resources, Mrs. Modupe Adeleye gave the warning in Ibadan today during a sensitization programme with market men and women.
She said the Oyo State Government is poised to find a lasting solution to the menace of street trading and illegal dumping of refuse in the State.
While Adeleye harped on the need for collaborative efforts amongst stakeholders at curbing the menace, she stressed that the exercise was not aimed at witch-hunting anyone.
She called on market, community and transport union leaders among other stakeholders to caution their members to stop the allocation of trading spots on roads and major streets to traders in the State.
The Permanent Secretary said traders and residents must align with the Oyo State Government in its renewed efforts at curbing indiscriminate waste disposal.
L-R Babaloja General of Oyo State, Chief Yekin Abass, Perm. Sec., Min. of Env. & Natural Resources, Mrs. Modupe Adeleye and the Otun Iyaloja general, Oyo State, Chief Mrs. Labake Lawal during the sensitization progromme
She noted that the Oyo State Government has put in place some major efforts, especially by engaging a Waste Management company, Mottainai Recycling Ltd, in tackling refuse disposal and recycling.
Adeleye noted that street trading impedes the free flow of traffic and operatives of the Ministry are resolute to take an uncompromising posture in enforcing street trading laws of Oyo State.
Mrs. Adeleye therefore appealed to traders to adhere strictly to the environmental laws of the State, by patronizing the Government approved Waste consultant and its Accredited Franchisees.
She said after the sensitization, the Ministry would embark on full enforcement and anyone found culpable will face the wrath of environmental laws operating in the state.
In his remarks, the Babaloja General of Oyo State, Chief Yekin Abass called on the traders in the state to strictly adhere to the environmental laws, urging them to put an end to street trading.
Speaking on behalf of traders, the Iyaloja of Bodija International Market, Chief Mrs. Victoria Onipede and her counterpart, the Iyaloja Eleyele Market, Mrs Saliu Akanni collectively promised their unalloyed support through monitoring their members regularly to ensure they adhere strictly to the law of the land.
They also agreed to involve other major stakeholders in the Oyo State Government's renewed efforts at tackling the menace.
Markets visited include Bodija International Market, Eleyele Market and Sango Markets among others.
E-signed:
Mr. Gideon Alade,
Co-ordinating Director,
Ministry of Information, Culture and Tourism,
Oyo State.
June 23, 2023.
Sequel to his appointment as the Chief of Staff to President Bola Tinubu, the seat of the former Speaker of the House of Representatives, Femi Gbajabiamila as a member representing the Surulere Federal Constituency 1 has been declared vacant.
Naija News reports that Gbajabiamila tendered his resignation letter to the House on June 14 2023 to resume his new post, and the seat has since been vacant.
Following this development, the Independent National Electoral Commission (INEC) is expected to announce the date for the conduct of the Surulere Federal Constituency 1 bye-election.
While about three members within Gbajabiamila’s party, the All Progressive Congress (APC) have shown interest in contesting for the seat, other aspirants from the Peoples Democratic Party (PDP) and Labour Party (LP) have equally come out to indicate interest in the seat as well.
It was gathered that the three people interested in the seat from within the APC include former acting Chairman of Surulere Local Government, Agboola Dabiri; two-term former member of the Lagos State House of Assembly, Hon. Kabir Lawal popularly called Caesar; and the current chairman of the APC in Surulere Local Government Area, Fuad Laguda.
This platform understands that the APC leadership in Lagos State has conducted a sort of mock primary among the three interested aspirants and Laguda was picked, as Lawal agreed to step down for him.
A party source who spoke on the basis of anonymity said to The Guardian that “We did the mock primary and Laguda was unanimously nominated as a candidate to represent the party. We decided on Laguda because he has the experience as a seasoned politician and also an accomplished public servant.”
However, the APC Spokesperson in Lagos, Seye Oladejo denied that a mock primary had been conducted saying the party does not practice the anointed candidate method, adding that the party would announce the process for nomination of candidates when INEC fixes a date for the bye-election.
Oladejo explained that the party will still follow due process in selecting a candidate through the primary and it would be the members of the party in the constituency that would decide who gets the ticket among those jostling for it.
According to him, “It’s natural for people to show interest and fulfil their ambition once opportunities come up. The office left by the former speaker is a big office and whoever is coming there will have a big shoe to fill. We are on the lookout for the right candidate who can win the election and meet up with the kind of performance that has made Gbajabiamila a household name that the party and the constituency are proud of.
“The party will ensure that the person that will emerge has electoral value and the morale to win the election. Gbajabiamila has left an indelible mark in that constituency, his works have made him a household name and there is a need to carry on with the good works he has started.
“Every politics is local. It is the constituency that will determine who gets the ticket.” When asked if the party would consider a woman for the position, Oladejo said, “Our party is fair to all gender and age groups. Everyone will be given a chance.”
Also, the PDP publicity secretary in the state, Hakeem Amode equally said the party was waiting for INEC to set a date for the bye-election.
Ambode said “The PDP will contest the election, follow the directive of the national executive. In PDP, the national exco will write the INEC at the national level, letting them know, after they have pronounced the date at which they want to do the election, the date at which our primary will hold.
“The party will pick who will represent the people well during the party primary. We will pick the best among our members who will represent the people and do something different. We will field a candidate that is respected, democratic and understands what is going on in that constituency.
“A candidate who will offer alternatives to what one person has been doing for over 20 years. We will feature somebody who has the capacity, intelligence and education, who understands the sufferings of the people.
“The PDP will not do anything outside the electoral law as amended. We will follow the Constitution of the country in fielding somebody who will do something different and understands what is going on in Nigeria at this time.
“Whoever is interested will come up, they will buy the letter of intent, and will take it to the state secretariat that they are interested in running for the office.”
The Labour Party in the state also said it is contesting for the seat and it would file a candidate in to contest.
The publicity secretary of the Labour Party (LP) in the state, Bunmi Odesanya said “We will encourage as many aspirants as show interest. If there are two or more aspirants, we will conduct primaries.
“LP will make a marked difference in representing the Surulere constituency. The achievement of Gbajabiamila in Surulere is lopsided. It is not cosmopolitan enough. He is known to favour and empower APC party loyalists. The former Reps member did this widely to buy the conscience of the vulnerable masses and not with the intention to serve.
“The Labour Party believes in the youths as the future of the country. LP will empower the youths indeed in the constituency, which cut across party lines irrespective of affiliation. Everyone will feel the positive impact of the LP candidate when he or she emerges. LP will deliver a candidate that will win the election. Odesanya, however, stated that the party is waiting for INEC directives on the conduct of the bye-election.
“We had a candidate in the last election, but if other people show interest, all the modalities will be considered. We had candidates that we fielded but if other people come up, we will conduct a credible and fair primary that is open to all.”
Meanwhile, the Lagos INEC’s HOD Voter Education and Publicity, Tadese Adenike, disclosed to The Guardian that the state INEC is awaiting the directive from the commission’s headquarters in Abuja to give them the directive.
He said “Sorry, I will not be able to speak on that because it’s the national headquarters of the commission in Abuja that will also direct us at the state level and up till now we have not received any correspondent to that effect. I don’t have anything concrete to tell you about it. We are still awaiting the directive of the headquarters and we haven’t received any up till now.”
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As IATA Adjusts Exchange Rate
One-way Economy class tickets on international routes from Nigeria may hit N2 million as the International Air Transport Association (IATA), sets the exchange rate from N663/$1 to N770.
The change in the exchange rate was as a result of the floating of naira as ordered by the Central Bank of Nigeria (CBN).
Also, the inability of international airlines to repatriate ticket sales for over a year has contributed to high airfares on Nigerian routes.
LEADERSHIP, gathered that at the new IATA Rate of Exchange (IRoE), registered by the Global Distribution System (GDS), a six-hour Lagos-London Economy class ticket sells for between N1.3 million to N2.5 million – subject to airline of choice, place, and time of booking. Its Business class variant sells for between N3.36 million to N4.8 million.
Recall that the Economy ticket price was from N400,000 before it jumped to about N1.2 million, while business class tickets ranged from N4 million to N6 million, depending on the airline and booking time. With the new exchange rate, fares are expected to rise further to N2 million.
While stakeholders regretted that the development has further pushed international air travel beyond the reach of average Nigerians, they acknowledged the inherent respite on foreign airlines that are patronising the Investors and Exporters (I&E) FX window for fund repatriation, and reopening of naira inventories to travel agencies in the countries.
Speaking to LEADERSHIP, the former national Financial Secretary, NANTA, Daisi Olotu, said the increment is affecting the stability of the travel market.
According to Olotu, the exchange rate has brought down the numbers of foreign travellers, thereby urging the airlines to adopt a weekly exchange rate system.
“The change in exchange rate doesn’t go down well with travelers and travel agents because it reduces the number of people traveling. It also leads to instability in the market. We give a price today and the price changes the following day.
“So, to create stability in the system, they shouldn’t change the exchange rate daily, rather they should adopt a weekly exchange rate system,” Olotu stated.
Also speaking, former President, National Association of Nigeria Travel Agencies (NANTA), Mr. Bernard Bankole, however, rued the new exchange rate saying tickets sales or fares would be out of reach.
He stated that the already high fares had been worsened by the instability in the airline business occasioned by the recent monetary policy of the federal government.
He said he expected strong leadership from the NANTA executive on reaching a middle ground on the stability of the IROE, stressing that there had been four adjustments in one week which did not do the sector any good.
The clearing house in a statement recently reiterated that airfares for international flights from Nigeria are denominated in U.S. dollars and converted into Naira, the local currency, for sale in the Nigerian market.
“These conversions use the official prevailing exchange rate provided by the country’s financial system.
“IATA simply applies the spot rate at which the Central Bank of Nigeria sells USD through banks to the market, at its fortnightly retail foreign exchange auctions. The rate is not static, i.e. if the rate at which the CBN sells USD goes up, the exchange rate applied to airfares will follow and vice versa,” IATA said.
There are high hopes that foreign airlines’ stuck funds issues with Nigeria may be a thing of the past following the new I&E instructions.
It could be recalled that earlier in the month during its 79th Annual General Meeting (AGM) held in Istanbul, Turkey, the organisation had raised the alarm that its member airlines’ blocked fund in Nigeria had increased to $818.2 million as at end of April from $744 million in March.
The association said that the figure put Nigeria as the country with the most trapped funds in the world. A statement by Willie Walsh, IATA’s director general put the total trapped funds in the world at $2.27 billion as at April, 2023.
Apart from Nigeria, other countries where foreign airlines’ funds are currently trapped are Bangladesh; $214.1 million, Algeria; $196.3 million, Pakistan; $188.2 million and Lebanon; $141.2 million. IATA maintained that the top five countries account for 68 per cent of blocked funds worldwide.
Walsh warned that rapidly rising levels of blocked funds are a threat to airline connectivity in the affected markets.
He emphasised that the industry’s blocked funds have increased by 47 per cent to $2.27 billion in April 2023 from $1.55 billion in April 2022.
He declared that airlines could not continue to offer flight services in countries where they have found it difficult to repatriate their funds and called for quick action to address the situation.
Tribunal: Tinubu's Legal Team Kick As Court admits Chicago University, NYSC Certificates With Different Names Against Tinubu
AdminThe Presidential Election Petitions Court has taken into consideration official documents related to the academic and professional history of President Bola Tinubu.
The documents were provided by the opposition party, the Peoples Democratic Party (PDP), and its candidate, Atiku Abubakar.
The records in question include a Bachelor of Science certificate from Chicago State University, a National Youth Service Corps (NYSC) Discharge Certificate, and a Certificate of Service from Mobil Nigeria Oil Plc.
PDP, through their witness Mike Enahoro Ebah Esq, introduced these documents, noting that they were supposedly acquired by Tinubu under the name ‘Bola Adekunle Tinubu.’
Guided by the PDP lawyer, Chris Uche (SAN), the witness also presented EC13 and EC9 nomination forms and corresponding letters sent to the Independent National Electoral Commission (INEC).
INEC’s lawyer, Abubakar Mahmoud (SAN), as well as the lawyers for Tinubu, Emmanuel Ukala (SAN), and the All Progressive Congress (APC), Lateef Fagbemi (SAN), all raised objections to the documents’ admissibility.
The defense is preparing to cross-examine the witness.
More details will follow as the story unfolds.
Former Ghanaian President, John Mahama, has urged President Bola Tinubu to tackle corruption with asset declaration.
Mahama made this appeal in his keynote presentation, titled, “Asset Valuation As A Global Anti-Corruption Tool:- The Nigeria Experience” at the 53rd Annual Conference of the Nigerian Institution of Estate Surveyors and Valuers held in Ilorin, Kwara State Capital on Thursday.
The former Ghanaian President identified asset declaration by the Public Officers as a tool to tackle the menace of corruption in the public sector.
According to him, corruption is a cankerworm that retards the progress of a nation.
He said corruption must be fought headlong whether it occurs in the public or private sector adding that corruption grows as a result of the failure of the instructions that are established to fight it.
Mahama stated, “Corruption is a global challenge that hinders economic development, diverts investments from infrastructure, institutions, and social services, and undermines efforts to achieve other country-specific development goals and targets.”
The former Ghanaian President explained that those who signed contracts documents that produce bad infrastructures have contributed to the destruction of the economy.
He urged all stakeholders in Nigeria and the African sub-region to rise and defeat corruption in all its ramifications.
He also urged Nigerians to support government efforts and ensure transparency in the fight against corruption in all sectors of the economy.
He also called for the use of the asset declaration mechanism to fight corruption.
Mahama said, “The international community has embarked on a global anti-corruption fight across several sectors, including real estate.
“Real estate asset and property valuation are a critical factor in asset investment decision-making and a vital tool for the global fight against corruption.
“Considering the enormity of the consequences of perversely attributed values to assets, asset valuation deservedly demands and requires increased attention from critical actors, such as the Nigerian Institution of Estate Surveyors and Valuers.
“Our fragile financial intermediation systems’ security and growth face significant risks from poorly done asset valuation.
“To remain relevant in pursuing economic and social progress and distributive justice and equity, you as professionals must rise to the occasion and create a more responsive regime to aid Africa’s renaissance and growth. You must work to build Africa as a centre of excellence in the asset valuation space.”
A former presidential candidate, Kingsley Moghalu, has said the suspended Governor of the Central Bank Of Nigeria (CBN), Godwin Emefiele, should not have contested the 2023 presidency.
Moghalu stated that Emefiele “crossed the line” when he bought the presidential ticket of the All Progressives Congress (APC) and contested for the presidency.
In an interview with Arise News on Thursday, the former CBN Deputy Governor said contesting for the presidency made Emefiele unfit to continue as the governor of the apex bank.
Moghalu, however, said he has the highest minimal regard for Emefiele’s performance as the CBN governor. He added that the bank’s performance on its core mandates has not been impressive under Emefiele.
He said: “We have seen the consequence of not being careful in appointing people for such a sensitive role. They make decisions and are just trying to achieve some self-interest at the particular time but are not weighing the consequence on the masses of an economy. There are lessons to be learned from what we have seen over the last several years.
“You cannot substitute political mandates for statuary mandates of the Central bank. I think it has been sidetracked. What we are seeing today is not a surprise at all.
“I have the highest minimal regard for Godwin Emefiele’s performance as the governor of CBN. The bank’s performance on its core mandates has not been impressive.
“Especially, going to contest for the presidency while sitting on the governorship seat of the bank. I think that just crossed the line and made him unfit to continue.”
Recalls that Emefiele was suspended by President Bola Tinubu as the CBN Governor, and was arrested and detained by the Department of State Services (DSS).