The United States-based counsel to the detained leader of the Indigenous People of Biafra (IPOB) Nnamdi Kanu, Bruce Fein, has called on President Bola Ahmed Tinubu to release the pro-Biafra activist immediately.
In an open letter to President Tinubu entitled, “Continued Criminal Detention of Mazi Nnamdi Kanu,” dated September 23, 2023, Fein stated that Kanu’s continued detention is illegal and criminal.
While describing the IPOB leader’s arrest as kidnapping, he demanded the release of Kanu from detention in compliance with the order of the United Nations Human Rights Council Working Group.
In the letter, the American lawyer told Tinubu: “You confront a choice between becoming a firefight or being the fire. The former would crown you with a possible Nobel Prize. The latter could consign you to Dante’s Seve Circles of Hell as portrayed in his Divine Comedy. You would become a firefighter by immediately ending the criminal, illegal detention of Nnamdi Kanu as ordered by the United Nations Working Group on Arbitrary Detention and Nigeria’s Court of Appeal over a year ago.”
He said the Nigerian government, earlier headed by President Muhammadu Buhari, exemplified lawlessness.
According to him: “On multiple occasions, the Nigerian government denied me the right to meet with my client or to be present in the courtroom to observe Nnamdi Kanu’s proceedings and to consult (but not to act as a licensed Nigerian practitioner).
“Nnamdi Kanu is every bit as much the leader of Biafrans as Nelson Mandela was for South Africa’s blacks.”
Fein told President Tinubu to emulate the government of South Africa under President F. W. de Klerk, which “released Nelson Mandela from Robben Island and negotiated an end to black subjugation.”
According to him, “for his political courage, vision, and magnanimity, President de Klerk was awarded the Nobel Peace Prize in 1993 jointly with Mandela,” adding: “Persisting in the wrong thing will bring you no respite. In the matter of Nnamdi Kanu’s release from criminal detention, the cause endures, the hope still lives, and the dream will never die until fulfilled.”
Recall that despite an Appeal Court judgment setting Kanu free, the Federal Government has continued holding him at the detention facility of the Directorate of State Security Service (DSS) while appealing the case with the Supreme Court.
The Labour Party (LP) has lamented the growing insecurity in the southeast, particularly the recent killings in Imo State which resulted in the death of some security operatives.
The Southeast Chapter of the Labour Party in a statement over the weekend said the general state of insecurity in the area and particularly the recent killing in Umualumaku, Ehime Mbano Local Government Area of Imo State is unnecessary and unjustified.
Naija News recalls gunmen killed no less than eight security agents in the state last week. The security agents comprised soldiers, policemen, and the Nigeria Security And Civil Defence Corps.
Reacting, the LP in a statement in Enugu weekend by the National Vice Chairman, Southeast LP, Chief Innocent Okeke lamented the killing of the security agents.
According to him, “These officers had families who depended on them for daily survival, and it is unjust that they had to answer for national calls with their lives.”
Okeke said there were many more incidents involving the killing of security operatives in the area but most were unreported and not investigated.
He lamented that no significant measures are being put in place to forestall further occurrences which has made the region further descend into a state of lawlessness and total anarchy where individuals were uncertain about their safety and residents leave in fear of death.
“The state of Imo has been tragically reduced to a graveyard, where the populace no longer fears the sight of blood and death as it flows and litters the streets daily. The sounds of firearms of varying calibres have engulfed the state, causing tensions that pose serious health concerns to both adolescents and the elderly,“ he submitted.
Dont Use Your Ministerial Position To Strategise For 2027 Presidential Ambition – APC Tells Wike
AdminThe North Central Forum of the All Progressive Congress (APC) has warned the Minister of the Federal Capital Territory (FCT), Nyesom Wike, against using his position to make moves for his presidential ambition in 2027.
Chairman of the Forum, Saleh Zazzaga, stated this over the weekend in Jos, the Plateau State capital, after an emergency meeting to assess and review the election tribunal judgement in the state.
Zazzaga claimed that the former Rivers State Governor is still backing the Peoples Democratic Party (PDP) in many of their endeavours and activities, particularly in the post-election cases in the court.
He asked Wike to come out clean and take a stand on the party he really belongs to, saying that they would not hesitate to initiate several actions against him, including legal action, should his actions run contrary to the APC’s interest.
He said, “Reports reaching us suggest that some appointive office holders like Wike are still playing double games, since he is part of the APC by appointment, while he still remains a member of the Peoples Democratic Party (PDP).
“We gathered he is still backing the PDP in many of their endeavours and activities, particularly in the post-election cases in the court.
“It is high time Wike comes out clean and takes a stand on the party he really belongs to, otherwise, should his actions run contrary to that of the APC’s interest, they will not hesitate to initiate several actions against him, including legal action.
“As someone who is holding an appointive position of the APC, a Lawyer by profession and someone reputed for doggedly fighting political-legal battles right from Rivers State, he (Wike) should come out strong and be seen to be supporting and strategising for victory for the candidates of the APC in the courts, at least in the North-Central Region, under which the FCT falls.”
Zazzaga advised Wike to be cautious in FCT demolition, land revocation and other administrative policies that will have negative outcomes, as the North Central will be the first region to bear the brunt and take the full heat of any unpalatable occurrence in the FCT.
He said the region is already going through many challenges, including security, and they would not want anything to aggravate the situation further.
The APC chieftain called on all party leaders, supporters and members alike to support all their candidates pursuing legal post-election matters in the courts.
He also urged Nigerians in general to support Tinubu, Secretary to Government of the Federation, George Akume, all the ministers and those holding appointive positions so that they can excel in their responsibilities and deliver the dividends of democracy to the nation.
A former Senate president, David Mark, has described the large number of committees in the National Assembly as unwieldy, saying having too many panels would make it difficult for them to function efficiently.
There are 152 committees in both chambers of the National Assembly. The Senate has 71 special and standing committees while the House of Representatives has 81.
The US Senate has a total of 24 committees made up of four special committees, 16 standing committees and four joint committees.
Speaking at a retreat for principal officers of the 10th National Assembly weekend at Ikot-Ekpene, Akwa Ibom State, Mark said creating many committees for patronage and political expediency is counter-productive.
He also said a situation where a lawmaker is allowed to serve in six committees was unwise because he or she will not be able to participate effectively or efficiently in the committee assignments.
Mark, who served as President of the 6th and 7th Senate, said, “The total of 71 committees (8 plus 63) in the Senate and 81 committees (7 plus 74) in the House of Representatives, in my opinion, is unwieldy. You must understand that not every senator or house member can be a chairman of a committee.
“A ranking member of a committee is as effective and influential as a chairman of the committee. Creating so many committees for patronage and political expediency is counter-productive.
“In constituting the committee, it will be advisable to ensure expertise, party spread, geographical balancing and ranking. I must emphasise the issue of ranking; it is very important in the legislature.”
[NaijaTimes]
The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi has revealed why he accepted to serve in the cabinet of President Bola Tinubu.
According to the legal luminary, he accepted to serve in the administration of President Tinubu in order to contribute his quota to the progress and development of the country.
The Senior Advocate of Nigeria who said he was surprised by his nomination as a minister because he did not lobby for it, added that the time had come for the professionals and technocrats in the country not to leave the business of governance alone to the politicians but join the fray to make a change
Fagbemi spoke in Ado-Ekiti, the Ekiti state capital at the weekend when he was hosted to a reception by members of the Emmanuel Chambers led by the leader and founder of the Afe Babalola University, Aare Afe Babalola, SAN.
The event was attended by top lawyers in the country including Chief Akin Olujimi, SAN ; Chief Niyi Akintola,SAN ; Adebayo Adenipekun,SAN and the national secretary of the All Progressives Congress, Senator Ajibola Bashiru.
The minister, who was the second lawyer from the chambers to be made Attorney General of the Federation after Chief Akin Olujimi, explained that he was already collating views and ideas of stakeholders towards having a blueprint for the nation’s justice system in line with the agenda of the president for the country.
While commending his colleagues and friends for organizing the reception, he stated that the contributions of Afe Babalola to his success and achievement in the legal profession were immeasurable and unmatched, promising not to disappoint the chambers in his new role.
According to him, “ I did not submit any application nor lobby to be made the minister. I know a lot of people have been insinuating and I can say that I don’t know anything about the ministerial nomination. The president told me that, ‘ don’t allow anyone to deceive you, I want you that is why I appointed you. In fact, I did not have a CV as of the time I was nominated because I have never needed it in my life and when I got to the DSS , they were surprised I didn’t have a prepared CV.
“ I have accepted this responsibility and all I need is your advice. We cannot all be saying the way they(Politicians) have been doing it we don’t like it , then you leave them. I am not a politician but we should be there to make a change in our country.
“ Getting to a position is not the issue but maintaining the status of such a position is the issue and that is why I said it is a challenge because I know hopes are high. As I mentioned earlier, you don’t just come out and say this is what I will do, you must also follow up with how you will do it. And that is why all the critical stakeholders are being engaged to have their inputs, harmonize their views, then come out with what I will call a blueprint, in line with the Mr President’s Renewed hope agenda.”
On the call for a transformation of the country by speakers at the event, Fagbemi emphasized the need for the three tiers of government to collaborate and bring ideas together for the effective growth and development of the nation.
“ The issue of transformation of the country is not a one man business. People make the mistake of thinking that it belongs to the federal government alone, that is not correct. The correct position is to appreciate the fact that Nigeria is a federation and when you talk about a federation, each segment has to man its post.
“ In order to have any meaningful impact, progress and development, you need to engage each of these tiers of government to be on the same page and sing from the same hymn so that we can all present what I will call comprehensive development or progress in the nation,” he said.
Speaking, the ABUAD founder, Afe Babalola eulogized the achievements of Fagbemi in the legal profession since he joined his Emmanuel chambers in 1985 as corps member and conferred with the rank of SAN at the age of 37.
He called on the new Attorney general to use his office to engineer the needed change in the political system in the country with a new constitution , which he said would help the nation survive its current challenges across major sectors.
The renowned lawyer said, “ I know Lateef Fagbemi, he is an uncommon man doing uncommon things and achieving uncommon results. He is a pride to the chambers because he had learnt how to turn things around.
“ While the government may be studying the situation, the truth is that Nigerians are becoming more and more impatient. The age long adage is that we should not treat leprosy with the drugs meant for scabies. I repeat that what we need is a New Constitution.
“ I believe that with his experience , Lateef Fagbemi can turn things around and build a new Nigeria through a new constitution under which politics shall no longer be regarded as a transactional business.”
On his part, the Ekiti state governor, Biodun Oyebanji who hailed Babalola for the achievements recorded by his chambers in the legal profession by producing two Attorneys General, urged the minister to remain committed in upholding the principle of justice, fairness and the rule of law in the country.
Justice Binta Zubairu of the Court of Appeal on Sunday in Zaria said judges are not the cause of delay in the dispensation of justice as erroneously believed by some Nigerians.
Zubairu made this known on the sidelines of a reception organised in her honour in Zaria on recent elevation as a Justice of the Court.
Judges are being wrongly accused of delay in dispensing justice by the public.
“Judges work as a team with the prosecution, lawyers and others. Speedy dispensation of justice requires the prompt efforts of the police, prosecution, assembling of exhibits by lawyers and presenting them correctly before the judges in court in accordance with the laws.
“Most times the judges or magistrates are ready to adjudicate but the prosecution would not be ready or the lawyers will come with one excuse or the other.
“These are facts that are glaring in courts but because we the judges can’t voice out their frustration, all the blames are shifted and heaped on us,” she said.
She said most times it takes the police longer than usual to conclude investigation in a simple case.
Zubairu commended the Zazzau Emirate for identifying and rejoicing with her over her promotion and appointment.
According to her, her elevation to the Court of Appeal is for the joy of the entire Zazzau Emirate and humanity.
She expressed gratitude to the Almighty God for making her the first female in the Zazzau Emirate to be elevated to the rank of Justice of the Court of Appeal.
“As a child, it was not my wish to be a magistrate or a judge. I wanted to be a principal of a school.
“I wanted to be a principal because as a kid I desired to see that all children go to school to be educated.
“I have not in my wildest imagination, thought I will be a judge but destiny took me to the judiciary,’” she said.
Earlier, the Emir of Zazzau, Malam Ahmad Bamalli said, “The emirate was proud of Justice Zubairu as the first female from the emirate to attain that height in the judiciary.”
The emir enjoined the celebrant to be good ambassador of the emirate by exhibiting high sense of honesty and professionalism in her endeavour.
Also speaking, the Chairman of the Presidential Task Force Committee on Prison Decongestion and former FCT Chief Judge, Justice Ishaq Bello, urged young judges to imbibe the culture of hard work and dedication to enable them excel.
Bello, while congratulating Justice Zubairu, advised her to follow the ethics of the profession for effective delivery.
Again, despite previous experience and warnings from the relevant authorities, several states and local governments across the country have been caught unprepared for the yearly devastating rains and floods.
Investigation by the LEADERSHIP showed that despite repeated warnings by NiMET, most of the states of the federation this year suffered severe setbacks as the rains and the consequential floods swept away residents, houses and farmlands and public infrastructure such as bridges, which collapsed, especially in Bauchi, Gombe, Katsina and Plateau states.
The collapse of bridges and caving in of some highways led to parts of these states being cut off from the rest of the country.
Although most of the states were not forthcoming with the casualty level, findings showed that four states recorded 15 deaths, with Katsina having the highest (10) deaths, Kebbi (4), Plateau (3) and Lagos (1).
Officials of other states contacted by LEADERSHIP said they have the data in place.
Over 33,000 persons in 10 states were affected by floods this year, says NEMA.
[Leadership]
The Special Assistant on Public Communications to former Vice President, Atiku Abubakar, Phrank Shaibu, has urged Nigerians to be weary of what he described as a deliberate ploy by the President Bola Tinubu’s administration to use propaganda to deceive citizens.
Shaibu in a statement in Abuja, on Sunday, said Nigerians shouldn’t be deceived by the apology issued by the President’s Special Adviser on Media and Publicity, Chief Ajuri Ngelale and others because “they are only sorry they got caught.”
According to him, the President’s handlers have been caught in at least 10 embarrassing lies which are part of the orchestrated propaganda siege on Nigerians over a 117 days period.
He further said, “The fact that Tinubu has more media aides than economic and security advisers is enough to prove that his administration would rely on propaganda as a state policy.
“My advice to the Nigerian media is to always fact-check any claim made by this government as this would help maintain their credibility. If the Tinubu government says it is morning, go outside to verify if the sun is shining.”
Shaibu further said, “These are the 10 lies of the Tinubu regime I have compiled so far:
“1. The first lie that was told by Bola Tinubu was in his inaugural speech, where he stated that petrol subsidy is gone. With oil prices now at $94 per barrel and naira exchanging at N1,000/$1, the price of diesel has risen to about N1,000 per litre while petrol remains at about N620 per litre. It is obvious to the discerning mind that petrol is now being subsidised, a position which all oil marketers have espoused. Nigerians should not be deceived. Tinubu’s claim that there is no subsidy is a lie from the pit of hell, and the fact that they are even hiding the information means there is no transparency, and the money is probably being stolen again.
“2. The second lie told by these charlatans was that the United Arab Emirates had lifted the visa ban on Nigerians immediately and that all Nigerians were free to visit Dubai. This lie was well celebrated by many undiscerning Nigerians whose only crime was to believe the deceptive words of an illegitimate government. UAE authorities later confirmed to CNN that it was all a lie. What a national embarrassment!
“3. A third lie told by this deceptive government is that Tinubu was the first African President to ring the NASDAQ bell. It has since been established that Malawian President, Jakaya Kikwete, rang the bell on September 21, 2011.
“4. Another lie was a statement issued by Ajuri Ngelale on August 27, 2023 where US Presidential Envoy and Assistant Secretary of State for African Affairs, Ambassador Molly Phee, was quoted as saying, “President Joe Biden is asking to meet with you on the sidelines of UNGA and you are the only African leader he has requested to meet. It is a mark of his high regard for your leadership.” Well, this has turned out to be another embarrassing lie as Tinubu has departed UNGA and never met President Biden.
“5. A fifth lie was a claim made by Tinubu on the floor of NASDAQ where he stated that “We have retooled the exchange rate to a reliable, dependable one figure floating of the naira. You are free to take in your money and bring out your money.” But this is another lie from the pit of hell. The exchange rate on the I&E Window is about N780/$1, while the rate at the parallel market is about N1,000/$1. Besides, foreign airlines still have over $600m funds stuck in Nigeria. Tinubu, therefore, lied when he said “you are free to take in your money and bring out your money.”
“6. On August 14, 2023, the Nigerian government said on its official Twitter handle that the Nigerian Air Force struck terrorists gathering at Kurebe in Shiroro LGA in Niger State. The government claimed that the terrorists were neutralised. Well, Premium Times has now revealed in its latest report that this is nothing but propaganda as those who were killed were innocent civilians. Is it not tragic that the Bola Tinubu administration has now infected the military with its lies? Indeed, once the head of the fish is rotten, the body cannot escape corruption.
“7. As part of Bola Tinubu’s propaganda programme, the Central Bank of Nigeria said on September 6, 2023 that within two weeks, it would inject $10 billion into the foreign exchange market to clear the FX backlog. Days after the deadline passed, not a single cent has been injected into the system as the naira continues its free fall. The institution that Tinubu’s leadership cannot destroy does not exist.
“8. In his inaugural speech, Tinubu said, “As your President, I shall serve with prejudice towards none.” But this has turned out to be another barefaced lie. Tinubu has been running a government of the clannish, by the clannish and for the clannish, with all key appointments in every sector going to a section of the country including CBN, FIRS, customs, army, police, immigration while he himself is the petroleum and gas minister. Tinubu appointed 10 ministers from the southwest and only five from the southeast. If this isn’t prejudice, I don’t know what it is.
“9. Last month, the Nigerian National Petroleum Company Limited claimed they had obtained an Afrexim loan of $3bn with which it would help stabilise the naira. We raised the alarm that it was all a ruse to deceive Nigerians. Now, we have been justified as the naira is now trading at $1/N1,000 on the black market, while Afrexim Bank has refused to speak on it. This was just audio money.
“10. Perhaps the biggest scam and deceit of the Tinubu administration was the Student Loan Act, which he signed on June 12. The new law provides loans for students’ tuition only. It doesn’t cover any other educational expenses. After the law was signed, all federal government schools began increasing school fees. But Dele Alake, the Special Adviser on Media as he then was, said in a statement that tuition in all government schools remains free and that the only fees that were increased were accommodation, laboratory, library and other costs. So if tuition is free and the Students Loan Act covers only tuition fee, that means the Student Loan Act is pointless, and no money will be released. In essence, Tinubu’s government has prodded government schools to increase fees while no loans will be given to the students. This is the height of deception and wickedness.”
France will withdraw its ambassador and end all military cooperation with Niger sequel to the coup, President Emmanuel Macron, has said.
“France has decided to withdraw its ambassador. In the next hours our ambassador and several diplomats will return to France,” Macron said.
The president added that military cooperation was “over” and French troops would leave in “the months to come”.
A military junta seized power in Niger on July 26, ousting President Mohamed Bazoum.
The decision followed months of animosity and protests against the French presence in the country, with regular demonstrations in the capital Niamy.
The move hampers France’s counter-terrorism operations in the Sahel and France’s influence in the region, but Mr Macron said France would “not be held hostage by the putschists”, he said on France’s TF1 and France 2 television stations.
The French president said he still regarded Bazoum, currently held hostage by the coup leaders, as the country’s “sole legitimate authority” and had informed him of his decision. He described the deposed president as a “hostage”.
“He was targeted by this coup d’etat because he was carrying out courageous reforms and because there was a largely ethnic settling of scores and a lot of political cowardice,” he said.
The Niger’s military leaders had told French Ambassador, Sylvain Itte to leave the country after they overthrew Mr Bazoum on July 26.
But the 48-hour ultimatum for him to leave, issued in August, passed with him still in place as the French government refused to comply, or to recognise the military regime as legitimate.
Macron’s statement also came hours after Niger’s coup leaders banned “French aircraft” from flying over the country.
The regional air safety organisation, ASECNA, said that Niger’s airspace was open to all national and international commercial flights except for French aircraft or aircraft chartered by France including those of the airline Air France”.
The air space would remain closed for “all military, operational and other special flights”, unless receiving prior authorisation, the message said.
‘All Hope Is Not Lost’ – PDP’s Jandor Tells Supporters As Lagos Tribunal Delivers Judgment Today
AdminAs the Lagos State Governorship Election Petition Tribunal is set to deliver judgment on Monday, the 2023 governorship candidate of the Peoples Democratic Party (PDP), Olajide Adediran, popularly known as Jandor, has told his supporters that all hope is not lost.
Adediran stated that whatever becomes the outcome of Monday’s judgment would not be the end of the electioneering process.
According to him, whichever way the judgment goes, there are two more steps to go before the process of the election is brought to a close.
While noting that expectations are high, because of petitions concerning the provisions of the constitution and the 2022 Electoral Act before the Tribunal, Adediran said that he and his party decided to embrace judicial process to strengthen Nigeria’s democratic process.
“Just like I put it here, it’s the court of first instance, which means that whichever way tomorrow’s Judgment swings, there are two more steps to go before the process of the 2023 Governorship election in Lagos State (is) brought to a close.
“I am aware that expectations are high, especially on issues bothering on the provisions of the constitution of the Federal Republic of Nigeria as amended and the Electoral Act, as well as precedents.
“For me and my political party, the PDP, our resolve to embrace judicial process is to strengthen our democratic process, so as to ensure the best of us are entrusted the positions to serve the rest of us.
“As I refuse to share from the opinion of many, that court of first instance in election petition (Tribunal) rarely do justice, I sincerely hope for thorough and unambiguous interpretations of all grounds of every petition tomorrow in line with the provisions of the 1999 constitution of the Federal Republic of Nigeria and the Electoral Act. 2022,” he said via his social media handles on Sunday.
“To every Lagosian who keeps yarning (sic) for a breath of fresh air in the State of Lagos, I say all hope is not lost.
“I thank you all for staying true to this course, but tomorrow wouldn’t be the end of the 2023 electioneering process.
“It’s not over until it’s finally over…” Adediran added.
Adediran and Gbadebo Rhodes-Vivour of the Labour Party (LP) are challenging the outcome of the March 18 governorship election in the state, in which Governor Babajide Sanwo-Olu of the All Progressives Congress (APC) was declared winner by the Independent National Electoral Commission (INEC).
Sanwo-Olu polled 762,134 votes to defeat Rhodes-Vivour, who gathered 312,329, and Adediran who came a distant third with 62,449 votes.
The PDP candidate is demanding the disqualification of Sanwo-Olu and Rhodes-Vivour in the election for “non-compliance” with the Electoral Act 2022 as well as the guidelines of INEC.
More...
Amid divergent reactions of a resurgence of terrorists’ activities in the country, President Bola Tinubu has directed security agencies to rescue the remaining female students of the Federal University Gusau, Zamfara State, who were recently abducted by terrorists.
The directive is sequel to recent disturbing reports that a group of bandits broke into a hostel in Gusau in Zamfara State and whisked away some students of the federal university.
But Tinubu while condemning the act, through his media aide, Ajuru Ngelale, on Sunday, described the development as reprehensible act of abduction.
He said the president believes there is no moral justification for such heinous crimes against innocent victims whose only “offence” was their pursuit of quality education.
“While the president wholeheartedly commiserates with all families directly impacted by this sad incident, he affirms that his administration has a solemn duty to protect every Nigerian citizen, and in line with this commitment, assures the families of the abducted students that no effort will be spared in ensuring their safe return.
“The president pledges that the Federal Government is determined to ensure that educational institutions remain sanctuaries of knowledge, growth, and opportunity, and totally free from the menacing acts of terrorists,” the presidential spokesman noted in a statement to State House correspondents.
Minister of works, Engr Dave Umahi, has gifted a 13-year-old boy, Greatness Ebisike, N10 million for his mathematical ingenuity.
Barr. Orji Uchenna Orji, a public affairs analyst and former commissioner for information and national orientation under Umahi’s administration in Ebonyi State, disclosed this in a statement.
Orji said the event took place in Lagos during Umahi’s journey to an official event at Victoria Island.
The 13-year-old, who Orji said was an SS1 student and hailed from Abia State in the Southeast of Nigeria, was reported to have aced all mathematical questions thrown at him without the use of a calculator.
The statement reads in parts: “It was a great and remarkable day for Greatness Ebisike, a highly skilled and mathematically talented chap, when he encountered the usual and rare benevolence of the Hon. Minister of Works, Federal Republic of Nigeria, Engr. David Nweze Umahi.”
“The chap who is currently in his Senior Secondary School One in Lagos is 13 years old and hails from Abia State. His sense of mathematical calculation and accuracy in result is simply amazing. He is quick in providing answers to algebraic questions, especially questions on multiplication and addition in Mathematics. Ask him any mathematical question and he replies correctly in just few seconds.
“A team that accompanied the minister posed several algebraic questions and he rattled them with dispatch and gave them nothing but the answers. When he was asked to give the sum of 70×70×70, he didn’t waste a moment in giving the answer as 343,000. You need to see the passion, the speed, the zeal and the energy with which he tackled every question be was asked.
“The Minister of Works who also witnessed the rattling of the chap was enthused by his performance. The Minister made a gift of N10 million instantly to the talented chap to assist in furthering his education. He urged him to keep up the passion and get developed in the passion as that would make him a precious resource in the world market.
“The chap dined with the Hon. Minister and received executive handshake from the Hon. Minister together with his guardian.
“According to them, ‘It was a golden day in their life, having such a rare privilege and benevolence from a man with the heart of gold,’” it added.
The minister encouraged Nigerians to develop the talent around them for the future of the country.
Members of the National Assembly will on Tuesday resume work after the long recess that lasted over eight weeks.
While the lawmakers were on holiday, Nigerians across the country are experiencing a cost of living crisis as prices of goods and services continue to spike due to policies of the government.
In this report, DAILY POST highlights some of the issues that the National Assembly will have to confront upon their resumption after the holiday
Confirmation of CBN Governor
Last week, President Bola Tinubu nominated Yemi Cardoso as the Governor of the Central Bank of Nigeria (CBN), and the nominee has resumed work in acting capacity.
The nomination has been generating controversy on social media as Nigerians are unclear as to the status of Godwin Emefiele. Many had expressed reservations on the appointment of Mr Cardoso when Mr Emefiele was still in suspension.
However, the CBN in a statement on Friday by its Director of Corporate Communications, Isa AbdulMumin said Mr Emefiele had already resigned.
On Tuesday, the Senate is expected to commence the confirmation process. But DAILY POST learnt that Mr Cardoso may face stiff opposition from some Senators who are concerned about what has been described as “Yorubanization of the economic sector”.
The President’s decision to appoint Cardoso as Emefiele’s replacement and Zacch Adedeji as Acting FIRS boss is not pleasing to many Northern Senators.
Confirmation of new ministers
One other confirmation is the new ministers nominated by President Tinubu. It would be recalled that President Tinubu nominated Jamaila Ibrahim and Ayodele Olawande as ministers of youth.
The Senate is expected to commence their confirmation when they resume on Tuesday.
Also, there is a decision on Nasir el-Rufai and the other nominees not cleared by the Senate. The Senate did not clear the former governor of Kaduna State over security reports. However, President Tinubu is yet to nominate a replacement, instead indicating that the Ministry of Environment is reserved for Kaduna State.
While several media outlets have reported that Mr el-Rufai has opted out, however, with the President not nominating a replacement, all eyes will still be on the Senate regarding the status of Mr el-Rufai.
New Minimum Wage
Last week, the President of the Trade Union Congress (TUC), Festus Osifo announced that the organized Labour is expecting the President to announce a new minimum wage to cushion the effect of the fuel subsidy removal.
The minimum wage is in the exclusive legislative list in the constitution. As such, the National Assembly has the power to legislate on minimum wage. It is expected to receive the bill on minimum wage from the executive.
Budget
As the National Assembly resumes on Tuesday, Nigerians will get the opportunity to see the fiscal direction of President Tinubu when he presents his annual budget to the two chambers of the National Assembly.
It would be recalled that the President had promised to review the fiscal policy of the country if elected; the budget may give the first prism into his plan.
Normally, the National Assembly ought to have gotten the Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) in line with the Fiscal Responsibility Act; however, the two documents have yet to arrive at the parliament.
Also, the National Assembly may be targeting to keep the January to December budget cycle by ensuring the passage of the 2024 budget before adjourning in December.
Insecurity
Days ago, dozens of female students at the Federal University Gusau, Zamfara State were kidnapped by bandits with only eight reportedly rescued by the Army, hence, the fate of the others remains unknown.
Apart from Zamfara, Nigerians across the country are battling with general insecurity ranging from bandits in the North to separatists agitations in the South-east.
When the lawmakers resume on Tuesday, Nigerians will be expecting reactions from their lawmakers.
Mohbad— mandatory autopsy
Last week, Ned Nwoko, a senator from Delta State announced that he would introduce a bill to make it mandatory for an autopsy to be conducted on every dead person.
Sen Nwoko made the announcement on the heels of the controversy that is trailing the death of Afrobeat singer, Mohbad.
The introduction of such a bill may lead to debates by lawmakers on the death of the Afrobeat singer. Also, it would be recalled that Sen Elisha Abbo also visited the mother of the late superstar.
When the lawmakers reconvene on Tuesday, there is a possibility that the death of the singer will be discussed.
Akpabio’s rumoured impeachment plot
During the recess, there were speculations that some Senators may move against Senate President Godswill Akpabio, particularly the Northern lawmakers.
DAILY POST gathered that the move is still among a few lawmakers, with Southern lawmakers rallying around the former Akwa-Ibom governor.
When the lawmakers resume, it will become clearer if the impeachment scare is real or a fluke.
[DailyPost]
Over two weeks after the Central Bank of Nigeria promised to clear over $10bn foreign exchange debts owed Deposit Money Bank, the apex bank has yet to do so according to findings by The PUNCH.
This came as the naira was sold between 990/$ and 995/$ by Bureau De Change operators on Friday and Saturday in Lagos, Abuja and Kano.
On the Investor & Exporter forex window, the naira however appreciated to 747.76/$ on Friday, from 772.98/$ on Thursday.
The immediate past acting CBN Governor, Folashodun Shonubi, on September 6, 2023, said the apex bank had concluded negotiation on dollar debts with commercial banks, disclosing that all forex exchange backlogs would be cleared within one to two weeks.
According to him, deposit money banks have assisted the apex bank to clear the majority of its overdue FX forward contracts at maturity.
As such, he said the CBN had reached an agreement to reimburse the lenders within one or two weeks following extensive debt restructuring talks that lasted over a long period of time.
“In response to questions about the backlogs, the banks have been working with the CBN on various structures to clear them. So, what happens is that at maturity, they make the foreign exchange available to those that need it.
“We are discussing with them so we can structure their own. So, we are working towards clearing them in the next one or two weeks. It is something we have been discussing for a while,” Shonubi had told audience at a forum in Lagos
However, multiple top bank executives told The PUNCH on Sunday that almost three weeks after the promise, the apex bank had yet to make good its promise.
They said the development had put banks in a very tight FX liquidity position, a situation that has made many lenders to temporarily suspend several FX transactions including school fees and Personal Travel Allowance applications.
Findings show the situation has also worsened dollar liquidity at the parallel market as bank customers shift to the black market to meet their forex needs.
“The FX backlogs have not cleared. The promise has not been made good. We are hoping that the new CBN governor will begin a discussion with banks on it or clear them immediately,” the executive director of a commercial bank told one of correspondents on condition of anonymity.
Also, a top official of Tier-2 bank privy to the development, said, “We have yet to see the FX backlogs cleared including the overdue forward contract obligations. We don’t know when this will be cleared. Unfortunately, the situation has worsened our FX position, making many banks to put some FX demands of their customers on hold.”
A report by JPMorgan, a United States-based lender put the total amount of forward contract debt owed by the CBN at $6.84bn. The CBN has however dismissed the report.
Reports had put forward contracts and dollar swap deals between the apex bank and banks at over $10bn.
The CBN could not be reached for immediate comments as of Sunday.
Naira slumps
On Friday, pressure mounted on the naira at the black market with BDC operators in Lagos, Abuja and Kano lamenting dollar scarcity,
An Abuja-based BDC operator, Sanusi Ibrahim, said, “We sold the naira for as high as 1,000/$ on Saturday. On Friday, we were buying and selling for 980/$ and 995/$.”
Another BDC operator, who is based in Ikeja, Yusuf Kareem, said, the naira was sold for 995/$. It is scarce; I cannot sell below that because I also bought it expensive. Only those who have it can sell.”
At the parallel market, Pound Sterling was bought and sold for £1,235/ and £1,250/, while Euro was bought and sold for 1,025/€ and 1,028/€, according to operators in the segment of the market.
On the Investor & Exporter forex window, the naira however appreciated to 747.76/$ at the close of Friday, from 772.98/$ on Thursday.
Manufacturers fear closure
Meanwhile, operators in the economy have feared further rise in cost of goods and services, and more shutdowns of their operations over the worsening naira value.
They called for urgent intervention in the sector to prevent more hardship on Nigerians.
The National Vice Chairman of the Nigerian Association of Small-Scale Industrialists, Segun Kuti-George, said higher prices would be the unavoidable consequence of the current exchange rate.
He expressed dismay that the floating of the naira which was supposed to curb speculation of currency speculation, had consequently escalated the activities of speculators.
According to Kuti-George, unless the government moves swiftly to stem the tide of the naira depreciation especially at the parallel market where more customers access the FX, more factories would be forced to shut down.
He said, “It is ironic that what works in other places don’t work in Nigeria. The cost of production is rising, because we still import a large part of our input, especially equipment. Most of the raw materials that we use are imported.
“So, when the cost of input goes up, the cost of production also goes up. This will happen to the price of products. The question now is – will people be able to afford our products now? Will imported products not be cheaper than our own to the extent that people will be rejecting our products for imported ones? Unless the tide is stemmed, there will be more factories closure.”
Inflation
The President of the Manufacturers Association of Nigeria, Francis Meshioye, said the current exchange rate would inevitably lead to a hike in the prices of products given the toll it would take on manufacturers to access foreign exchange.
According to him, the floating of the exchange rate will not mean anything to operators if the naira continues the free.
Meshioye said, “It is an unpleasant development because that is the major currency through which we purchase our goods outside the bounds of our nation. It means that the cost of raw materials will continue to skyrocket.
“It is unpleasant. We hope that the government will do something about it. While we float the exchange rate, it should not be allowed to be somersaulting and skyrocketing to unreasonable levels which will not augur well for the country, knowing full well that we are not just trading amongst ourselves.”
He added that, “We have to trade outside of our bounds. The implication of this is that our prices may be unreasonably higher than prices of other countries. That implies, among other things, that our products may be found to be too expensive. If you want to look at the unavailability of disposable income among the citizenry, the choice of buying Nigerian-made products, which may be expensive and foreign products which are cheaper is low. It is pathetic.”
Scarcity
The President, Association of Bureaux De Change Operators of Nigeria, Dr. Aminu Gwadabe, said the volatility of the local currency had continued to underpin the nation’s slow economic growth.
He said, “The high demand pressure at the 1&E window and the parallel market due to lack of sufficient liquidity have been fuelling the widening gap between the I&E Window and the parallel market rates.
“Combination of several factors including the investors’ backlog estimated at $6.8bn and disincentives to bring fresh funds into the economy is one of the major concerns.
“In the same vein the dwindling receipt of Diaspora remittances and resurrection of subsidy on petrol are major deterrents and big concerns to fresh liquidity in the market.”
According to him, the uncertainties and loss of public confidence on the local currency has heightened demand pressure in all segments of the market.
He said, “In addressing the challenges of the I&E window, there is need for the legislation of the willing buyer and willing seller concept. This will lead to enhanced liquidity in the foreign exchange market and enhance public confidence.
“It is also imperative in this regard to recognise the inclusion of the BDCs at the I&E window to continue to play their roles of moderating and correcting the markets.”
He advised the Federal Government on how to bring in more Diaspora remittances.
The CBN had recently announced operational mechanism for the BDCs to trade foreign currencies at similar rates obtainable on the Investor & Exporter forex window.
It gave the directive to all BDCs and the general public in a circular number TED/FEM/PUB/FBC/001/007 dated August 17, 2023, titled, ‘Operational mechanism for Bureau De Change operations in Nigeria’.
The circular stated, “The spread on buying and selling by BDC operators shall be within an allowable limit of -2.5 per cent to +2.5 per cent of the Nigerian exchange market window weighted average rate of the previous day.
“Mandatory rendition by BDC operators of the statutory periodic reports (daily, weekly, monthly, quarterly and yearly), on the financial institution forex rendition system which has been upgraded to meet operators’ requirements.”
Confidence
The Director/Chief Executive Officer, Centre for The Promotion of Private Enterprise, Dr Muda Yusuf, said the new CBN Governor, Dr Olayemi Cardoso, was assuming the leadership of the CBN at a very crucial time in the economic history.
He said, “There is a serious confidence crisis in the foreign exchange market fuelling an unprecedented speculative onslaught on the naira. The economy is grappling with severe adverse effects of depreciating exchange rate, soaring energy costs, ravaging inflationary pressures, huge backlog of foreign exchange obligations that needs to be cleared and debt service obligations that need to be redeemed. Sadly, these outcomes are manifesting at a time when the country’s foreign reserves have been substantially encumbered.
“There is an apparent deceleration in the pace of economic reforms as the outcomes are at variance with expectations. The social costs of the reforms were substantially higher than anticipated, resulting in push-backs from the civil society.”
He said the economic management orthodoxy of market forces was being called to question in the light of the social outcomes of the market-oriented reforms.
He said there was a measured re-emergence of political economy with the reappearance of fuel subsidy and divergence in exchange rates.
This was evidently an economic management quandary that the new economic team would have to manage, and urgently too, he said.
Yusuf said, “Meanwhile, the CBN must ensure strategic and transparent intervention in the forex market to minimise volatility, as far as the reserves can support. In addition to the I and E window, it has become necessary to create an autonomous window in the banking system where the currency can trade freely without any encumbrances. This is necessary to avert the diversion of remittances to other jurisdictions or the black market. We cannot afford to live in denial at this time.
“The clearance of the backlog of forex obligations should be accorded high priority to restore the confidence of domestic and foreign investors.”