…Says Nigeria under state capture
Former Minister for Education and Health respectively, Professor Ihechukwu Madubuike, has said it was time for the Federal Government to expose all those who benefited from the fuel subsidy regime.
The former Commissioner for Finance in the Old Imo State who took the position in an exclusive chat with Vanguard, said it was not enough for Government to claim it stopped fuel subsidy because it served the interest of few individuals without disclosing the said beneficiaries.
He further advocated the interrogation of a former Governor of Bauchi State, Isa Yuguda, who recently confessed that his friend once told him that he was tired of making money from fuel subsidy.
Professor Madubuike said that Yuguda should disclose the said friend for investigation.
” Who are these people who have gained from fuel subsidy all these years? There was a statement credited to a former Governor of Bauchi State, Isa Yuguda, that his friend told him that he was tired of making money from fuel subsidy.
” That’s the place to start with if this country wants to be saved. He should be asked who that his friend is. Who are the other beneficiaries? Take them to tribunal and recover the money first and use it to build roads, hospitals, schools and health centres.
” That’s where to start if they are serious so we can know who their patrons are. Were they using the money to provide the guns being used in killing people in Plateau, Southern Kaduna and South East?
” These things have continued because we are in a state capture. Everything goes even though we have a leadership, the leadership is in autopilot. It doesn’t hold anybody accountable “.
The former Minister further said it was not enough to arrest and detain the former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, while those who authorised his actions were walking freely.
He insisted that Emefiele should be made to disclose all those who gave approval to his actions considered illegal, and such people also put on trial if the country were sincere about sanitizing the CBN.
” Now they have arrested the former CBN Governor, Emefiele. But he didn’t act alone. So, a country that is sincere should find out the truth from him, and all those who are implicated will be punished. The problem with Nigeria Government is that it does media trial, and it stops there”.
Professor Madubuike decried the harsh policies of the ruling All Progressive Congress, APC, saying they have further impoverished Nigerians.
“Having removed the fuel subsidy, how is the Government going to provide for the underserved who are now bearing the brunt of the removal? This is happening at a time the foreign exchange rate was also floated.
” About 7.2 million Nigerians are being added to the poverty list simply because of the wrong policies of the ruling party.
Both the fuel subsidy removal and forex floating have created serious impacts on the cost of living.
” We expect that whatever they have gained from subsidy removal should be ploughed back to the people of Nigeria this month. But we haven’t seen anything done.
” Banditry is increasing, cost of food is increasing, crime wave is on the increase. So, they have to work very fast to ensure Nigeria is workable”.
The Awujale of Ijebuland, Oba Sikiru Adetona said God spoke through President Bola Tinubu when the latter said ‘Emi Lokan’ (It’s my turn) during his campaign in Ogun state, ahead of the 2023 general elections.
Awujale stated this while speaking during Tinubu’s visit to his palace in Ijebu-Ode on Thursday.
The Paramount ruler of Ijebuland said, “God spoke through you when you said it is your turn. (Emi Lekan). With this feat, you are still going to do one more term.
“Me and Asiwaju have been together for a very long time. We both did NADECO – the National Democratic Coalition (NADECO) together. Asiwaju, our President was the one, who gave me the titled, ‘Baba NADECO.’
“Many of you may not know where we were both from, but the most important thing is that we are grateful for where we all started; where we are currently; and where Got is taking us to. This is the first stage of where we’re going, another stage is coming,” he said.
In his address, President Tinubu said the Awujale of Ijebuland is not the Baba of President and no longer Baba of NADECO.
Tinubu commended the monarch for supporting his presidential bid, saying, “Thank you for being there for me and for there for the country. You’ve demonstrated so much loyalty, so much commitment.
“Baba, this is your President. This is your son Thank you. Thank you for everything. I thank God for you being alive to witness today, to witness the result of the election that you prayed for us your children.
“You have an uncommon courage and you passed it to us. We utilised it to serve and to invoke the spirit of who we are a people, very proud and honourable people, people of great character. Our diversity for prosperity will never be forgotten,” he said.
Meanwhile, Tinubu said he invoked the spirit of Emi Lokan (It’s my turn) from the Oba Adetona.
He said, “I invoked the spirit of Emi Lokan from Baba (The Awujale of Ijebuland). That’s the spirit of freedom and that’s who we are as a people.
“I came to Ogun state to invoke the spirit of freedom from which we are noted for. I invoked that spirit thrice – the spirit of Baba (Awujale) is Emi Lokan. That’s Baba, being blunt, being incisive, that’s him, he will tell you,” he added.
Recalling the naira swap crises that rocked the country prior to the 2023 general elections, President Tinubu noted that Nigerians voted at a very crucial time when “our monies were confiscated. The cash swap didn’t work. It was terrible then, I realised that.
He said, “And the second spirit is that money or no money, ‘A ma dibo’ (We will vote) A ma wole (We will win). Bi ko sowo (Whether there’s no money). And ever since, it’s been the spirit that’s driving me to serve. I’m honoured Baba. I am honoured. I’ve just come to respond to whom calling, saying I need to see you.”
THE presidential candidate of the Labour Party, LP, in the February 25 election, Mr Peter Obi has said that the situation in the country requires that those in authority must lead by example.
Obi, who spoke at St Faith’s Anglican Cathedral, Awka during the funeral service of the late Dean of Church of Nigeria, Anglican Communion, Most Rev Maxwell Anikwenwa, said the behavior, character and conduct of public officers must be in consonance with what society requires today.
“We can’t continue to preach for people to make sacrifice without sacrificing. The sacrifice must start from the leaders, visibly and measurably because the people are suffering and we must now be at the forefront of the suffering”, the former Anambra State governor said..
Obi described the late Anikwenwa as not only a man of God, but a great Nigerian who contributed meaningfully beyond his pastoral work, but also contributed immensely in building a better Nigeria.
“Those who know him well, must testify that he was involved in advocating for a better Nigeria, good governance and everything,” Obi said.
The Primate , Church of Nigeria, Most Rev Henry Ndukuba, who presided at the ceremony said . Anikwenwa truly lived by the principles the Anglican Church is known for.
According to him, having done his work successfully on earth, the renowned cleric had gone home to rest.
The Prelate said: “Death comes to all as leveler. The Lord has called home one of the Patriots of the Anglican Church.
” He was the pioneer Bishop of Awka and Dean of Church of Nigeria. He lived on the principle of service to God and was a true servant of God who loves his people”
No fewer than 100 Archbishops, Bishops and priests from all parts of the country participated at the service.
The deputy governor of Anambra State, Dr. Onyekachukwu Ibezim represented the governor, Professor Chukwuma Soludo. Others at the service were the Senator representing Anambra Central, Chief Victor Umeh, House of Representatives member for Awka North and South, Professor Lilian Orogbu, Chief Judge of Anambra State, Justice Anyachebelu, chairman of Dozy Group, Dr. Dan Chukwudozie, as well as traditional and community leaders.
The body of Anikwenwa was received at his home town. Awkuzu by Ndukuba and later visited Anikwenwa’s home in Awka.
The body of Anikwenwa was received at his home town. Awkuzu by Ndukuba and later visited Anikwenwa’s home in Awka.
The Group Chief Executive Officer of the Nigeria National Petroleum Company Ltd, Mr Mele Kyari has paid Sallah homage to President Bola Tinubu.
Kyari who stated this in a post on his Twitter page visited the President with the Acting Governor of the Central Bank of Nigeria, Folashodun Shonubi.
He expressed joy for the privilege to pay the homage to the President, adding that that Sallah is a day of reaffirmation by the faithfuls to sacrifice or give off the most coveted of possessions to please Allah.
He wrote, “Privileged to pay Sallah homage to Mr President alongside Ag Gov CBN. A day of reaffirmation by the faithfuls to sacrifice or give off the most coveted of possessions to please Allah and by implication for the common good… and to ultimately be grateful for all the favours of Allah and secure the infinite mercy of Allah. Eid Mubarak.”
'I Invoked Spirit Of Freedom In Ogun To Win' - Tinubu Visit Ogun, Recounts Failed CBN Cash Swap Policy
AdminPresident Bola Tinubu on Thursday recounted the hardship the failed cash swap policy of the Central Bank of Nigeria (CBN) exposed Nigerians to.
Tinubu said that realizing what Nigerians were passing through, he visited Ogun State to invoke the spirit of freedom.
The president spoke at the palace of Awujale and paramount ruler of Ijebuland, Oba Sikiru Adetona, in Ijebu Ode.
He said: “It is a homecoming and I owe so much to all of you and there is so much to thank you for. Because of the way you have taken me and the way you’ve responded to me, all I can say is thank you.
“To many of you, thank you for being there for me and being there for the country. You demonstrated so much loyalty, so much commitment and voted at a very crucial time.
“Your monies were confiscated. The cash swap didn’t work. It was terrible then. I realised that and I came to Ogun State to invoke the spirit of freedom for which we are noted for.
“I invoked that spirit twice. The spirit of Baba (referring to Awujale). The spirit of Baba – Emi l’okan (it’s my turn), that’s Baba. The spirit for being blunt and that is him.
“And the second spirit is that of money (Naira scarcity), ‘ama dibo ama wole’ (we will vote and we will win) even if there is no money. And that, ever since, has been the spirit that is driving me to serve.”
THE WHISTLER recalls that the CBN had redesigned the N200, N500 and N1,000 denominations, and set January 31 as deadline for their legal tender status. But had to extend the deadline by 10 days (February 10) to allow for circulation of the new notes and mop up the old ones.
However, the implementation of the policy subjected Nigerians to excruciating pains and torture, as it was difficult to access cash across the country.
While expressing frustration during his electioneering campaigns, Tinubu at a rally, which held at the MKO Abiola Stadium in Abeokuta, had said the redesign of Naira would not stop his victory at the polls.
Rashidi Ladoja, the Otun Olubadan of Ibadan has expressed disinterest in the upcoming elevation of his status from a chief to a beaded- crown wearing oba, saying that he wants to be the Olubadan and not an elevated Oba.
Ladoja, a former governor of Oyo State, made this disclosure during an interview with journalists in his Ondo Street, Bodija, Ibadan house shortly after observing Eid at the University of Ibadan Muslims praying ground.
Reacting to the plan by ‘Seyi Makinde, governor of Oyo State, to elevate Ibadan high chiefs to Obaship status next month, the engineer cum politician said: “You don’t fix what is not broken.”
Recall that Makinde recently signed the Chieftaincy Amendment Bill that granted him autonomy to present beaded crowns and coronets to chiefs in the state into law.
The governor was reported to have given his consent to the promotion of the high chiefs and the high chiefs will officially be installed as traditional rulers on Friday, July 7, 2023.
The high chiefs are Balogun of Ibadan land, Owolabi Olakulehin; Otun Olubadan of Ibadan land, Rashidi Ladoja; Otun Balogun, Tajudeen Ajibola; Osi Olubadan, Eddy Oyewole; Osi Balogun, Lateef Adebimpe; Ashipa Olubadan, Biodun Kola-Daisi; Ashipa Balogun, Kola Adegbola; Ekerin Olubadan, Hamidu Ajibade; Ekerin Balogun, Olubunmi Isioye; Ekarun Olubadan; Bayo Akande and Ekarun Balogun, Abiodun Azeez.
The Nigerian Electricity Regulatory Commission, NERC, is awaiting the approval of President Bola Tinubu before a new tariff regime is made public.
The review of the Multi-Year Tariff Order, MYTO, which happens twice a year, is expected to lead to a rate increase following the devaluation of the Naira with the flotation of the national currency.
An impeccable source at the Commission told Vanguard, yesterday that the review has been concluded and the result sent to the President for approval. The source who declined to be named said “Everything is ready.
By Friday this week, we will know if this increase will happen on July 1 or August 1, as some people have suggested.
“The truth is that the increase will happen, if not the government will have to pay for the shortfall. I don’t think there is a budget for it and without the increase, the industry will struggle to survive”, the source added. Providing more insight, he disclosed that a stakeholder meeting involving the Commission, operators and consumers has been scheduled for Monday and Tuesday next week where all issues arising from the tariff hike will be discussed.
Checks by Vanguard confirmed that President Tinubu’s, Special Adviser on Energy, Olu Verheijen would likely lead the government’s decision on the electricity tariff review and all other reforms in the sector.
Last Friday, she met with top government officials at the Federal Ministry of Power in Abuja where she was said to have put forward her vision for the power sector.
Already, some consumers said they would attend the planned stakeholders meeting expected to through up issues, including the rising cost of operations, inflation and foreign exchange for discussion.
Meanwhile, the Electricity Distribution Company, DisCos said the upward tariff review would encourage investment, leading to the supply of additional power to consumers.
Similarly, the Manufacturers Association of Nigeria, MAN also noted that the implementation of the nation’s Electricity Act would also be enhanced because of the new tariff.
In its position paper obtained by Vanguard, the association stated: “As an advocacy Association, MAN has always pushed for the need to charge cost-reflective electricity tariff to avoid extortion of our members. Fortunately, it is of great delight that this new Act fits like a glove as it will help actualize a cost–reflective tariff considering the healthy price competition it will bring between the states and private investors.”
However, the President, of Nigeria Consumer Protection Network, Mr Kunle Olubiyo, in a note to Vanguard, noted that much value has not been given to consumers despite several past tariff reviews.
He said more investment should be channelled into the capacity expansion of critical power grid infrastructure and network improvements in order to upscale efficient service delivery, quality of supply and customer satisfaction in the post-privatized Nigerian power sector.
He also said: “Government should address matters relating to domestic gas obligation, appropriate gas pricing and gas to the domestic market should be sold in local currency (Naira) for use by gas to power generation power plants.
“Government should provide tax incentives, fiscal and non-fiscal incentives and access to long-term low-interest single digits credit facilities to indigenous meters assembling plants/local meters manufacturers in order to strengthen their production capacity.
“End users of electricity in Nigeria should be given the opportunity to buy pre-paid meters off the shelves. Conversion of the post-paid meters used by maximum demand metered customers who are bulk users into pre paid maximum demand meters in order to enhance energy accountability and customer-centric, customers’ satisfaction & value for money.”
In bid to fulfill his promise of helping to renovate the Awka and Onitsha mosques and also to celebrate with the Anambra Muslim community in Onitsha on the auspicious occasion of this year’s Eid-el-Kabir, Peter Obi, the Labour Party (LP) Presidential candidate in the 2023 election has presented the former with cheques worth millions of naira to commence with the renovation projects.
It be recalled that during Obi’s visit to Awka and Onitsha Muslim communities in April, he promised to support them in renovating their places of worship, which was no longer in good condition.
He equally called on Nigerians to embrace peace, unity and brotherly love.
Obi gave the donation when he played host to leaders of the Anambra Muslim Community in Anambra capital, Akwa, on Wednesday.
According to him, he decided to celebrate the Eid Al-Adha with the Muslim community in Anambra, to show the brotherly love and unity that should exist among Nigerians, irrespective of tribal, political or religious belief.
Obi presented both Awka and Onitsha Muslim communities
Speaking at the event, Obi said, “We are all Nigerians, and we will continue to live as one irrespective of our religious or political beliefs. What we owe each other is brotherly love and care, so we can live in peace and unity as a nation. We have no other nation but Nigeria and we must make it work.
“I know that times are difficult for everybody in the country, but if we rise above our religious, political and ethnic divisions, we will be able to surmount our challenges in unity. We will not give up on our nation, but continue to work for a New Nigeria that will be beneficial to every Nigerian.”
In his remarks, the Sarki of the Awka Muslim Community, Alhaji Garba Haruna, said they were thrilled by Obi’s simplicity and consistency.
According to him, Obi has demonstrated that he is a “truly detribalised Nigerian”, by making out time to mark their Sallah celebration with them.
Earlier today, I hosted the Anambra Muslim Community at my residence in Onitsha, to celebrate the Eid al Adha. In also presented cheques to the leaders of Onitsha and Awka Muslim Communities, in fulfilment if my earlier promise of helping to renovate their respective mosques. pic.twitter.com/RHONsGbOAu
— Peter Obi (@PeterObi) June 28, 2023
The UN’s top humanitarian official in Nigeria, Mr Matthias Schmale, has said that severe hunger is affecting 4.3 million people in Nigeria’s Borno, Adamawa and Yobe.
Schmale told journalists in Geneva on Wednesday that the number of children under five at risk of life-threatening severe acute malnutrition had doubled in one year to reach 700,000.
Describing the situation in northeast Nigeria, Schmale said: “I have been to Borno and the other two states several times.
UN Coordinator laments digital platforms’ misuse to subvert science, spread hate speeches
“I’ve seen mothers fighting for lives of their malnourished children in nutrition stabilisation centres.
“Those of us who are parents must imagine what it’s like when you cannot ensure your children have enough to eat,” he said.
According to him, the “catastrophic” situation is primarily the result of more than a decade of insecurity linked to non-State armed groups, which prevents people from farming and earning income from the land.
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Another harmful factor is climate change and extreme weather impacts.
Last year saw the worst floods in 10 years in Nigeria, which affected more than 4.4 million people across the country, not just the north-east.
Soaring prices of food, fuel and fertilisers have exacerbated the crisis, and the response remains severely underfunded.
The UN official said that out of the $1.3 billion in humanitarian funding needed for the region, only 25 per cent has been secured so far.
Former Governor of Oyo, Senator Rashidi Ladoja, on Wednesday, gave reasons he was furious with the State Governor, Seyi Makinde, in the buildup to the last elections.
Addressing journalists at his Ibadan home after observing Eid prayers, Ladoja said he was disgusted at the governor’s lack of support for the senatorial and House of Representatives candidates of the Peoples Democratic Party (PDP) in the last elections such that the party lost the three senatorial seats and nine Reps seats.
Ladoja said his stance was that even if the governor was not supporting the presidential candidate of the PDP in the last election, he should not act such that the chances of his other candidates of the party in the National Assembly elections in the State would be jeopardized.
Asked if there was a clash of interests prior to the election, he said: “What happened was that I got furious because I felt that the governor should have supported his candidates for the Senatorial and House of Representatives elections, even if he did not want to support the presidential candidate. But, he did not support the Senators; he lost the three senatorial seats; he lost nine House of Representatives seats.
“I was disgusted. That was the only thing. I then said that election will have effect on his own election. If that is what people feel is not right, that is their own opinion. My own opinion is that governor of the state should support candidates for senatorial, house of representatives. What is the clash of interests? I was not contesting; my son was not contesting; my wife was not contesting.”
On his present relationship in the aftermath of how the election panned out, Ladoja boasted that he had a father-son relationship with Makinde.
“I have father to son relationship with Seyi Makinde. It is cordial. He gave me a big cow and several bags of rice for this Salah celebration. That is what a son should do to the father,” he said.
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The Niger Delta Congress strongly denounces the ongoing politically instigated violence in Akwa Ibom State.
We are deeply saddened by the loss of innocent lives and the destruction of properties in Obolo and other communities within Akwa Ibom which has brought about a climate of fear and immense suffering to the people of Akwa Ibom.
There is enough empirical evidence to show that this recent surge in violent acts in Akwa Ibom against selected communities has its roots in the influencing the application of the Host Community Fund sections of the recently passed Petroleum Industry Act (PIA), which prior to now the NDC has outrightly condemned being aware of its propensity to catalyze inter-ethnic and intra-ethnic conflict in the region. We must likewise point out that intra-regional violence has never served the interests of Niger Deltans.
The Niger Delta Congress firmly believes in the principles of peace, unity, and mutual respect and as such we call on all stakeholders, political representatives and community leaders to make all honest efforts to end all forms of politically instigated violence in Akwa Ibom. We urge all parties involved to embrace dialogue and peaceful means to address their grievances.
We stand in solidarity with Akwa Ibom, and we commiserate with the families of those who have lost loved ones in Obolo and and other affected communities and call upon the government, security agencies, and community leaders to take swift and decisive action to restore peace and security in the state.
We emphasize the importance of community engagement, strengthening security measures, and promoting education and empowerment as vital steps towards building a peaceful and prosperous future for all.
We appeal particularly to the Akwa Ibom state government to not allow itself or its institutions to be used by individuals or communities with selfish interests to plunge the region and state into unnecessary violence. We implore Governor Umo Eno to use this opportunity to freely deploy the principles of fairness and justice, promote inclusivity and pursue inter-group cohesion in Akwa Ibom and the entire Niger Delta.
As the free indigenous people of Niger Delta, together, let us reject violence and work tirelessly towards a harmonious and conflict free Akwa Ibom and Niger Delta.
God Bless Akwa Ibom.
Mudiaga Ogboru
National Spokesperson, NDC
Lagos State governor, Babajide Sanwo-Olu, has appealed to Nigerians to support President Bola Tinubu in his efforts to “building a nation that would work for all.”
Sanwo-Olu made the appeal in his Eid-el-Kabir message issued by his Media Adviser, Gboyega Akosile.
Tinubu who won Nigeria’s presidential election in February and was sworn-in as president on May 29, is facing the task of lifting about 80 million Nigerians out of poverty and addressing security challenges in the country, which have crippled economic activities in many parts of the Africa’s biggest economy.
With Nigeria’s inflation rate at over 22 percent and unemployment rate at over 33 percent, analysts believe the former Lagos State governor has lots of work to do.
Aside macroeconomic challenges Nigeria is faced with, Tinubu also has the task of uniting the country, which was divided along ethnic and religious lines during the last general elections.
Sanwo-Olu who also asked Lagosians to support his administration, urged Muslims faithful to imbibe the lessons in the sacrifice made by Prophet Ibrahim.
He encouraged them to work with other faith for the peace, unity and progress of Nigeria.
Speaking on the significance of the Eid al-Adha, the governor said the celebration became a symbolic event in the history of mankind, given the bountiful rewards that followed the patience and perseverance of Prophet Ibrahim, who held on tenaciously to his faith in God despite being afflicted.
He said: “On behalf of my family and the government of Lagos State, I join millions of people around the world, to wish our Muslim brothers and sisters in the state and Nigeria a happy Eid-el-Kabir, which comes with significant lessons for mankind.
“Eid al-Adha has become a symbolic event in human history, following the events that led to the sacrifice by Prophet Ibrahim, who held tenaciously to his faith in God despite his unpleasant circumstances at the time.
“This symbolic Islamic festival is a reminder to us that, there will always be great rewards when we have abiding faith and patience in trying periods; persistence in prayers, and tenacity in our belief.
“It also reminds us of the sacrifice we are expected to make not only for spiritual fulfillment but also for the progress of mankind and the development of our society.
“As we celebrate Eid-el-Kabir today, I urge Lagosians and Nigerians to continue on the path of spirituality and peaceful coexistence.
“I want to implore all Lagos residents to support our administration in our quest to deliver dividends of democracy and good governance to the people through the THEMES+ agenda for Greater Lagos.
“I also appeal to all Nigerians to support President Bola Tinubu and his administration’s efforts in building a nation that would work for all. We must all work for the progress, growth, and development of our dear State and country, Nigeria.”
Buba Galadima, a chieftain of the New Nigeria People’s Party (NNPP), has called on President Bola Tinubu to sack Mahmood Yakubu, chairman of the Independent National Electoral Commission (INEC).
He spoke in an interview on Channels TV’s Political Paradigm.
Galadima accused the INEC boss of subverting the will of Nigerians during the last presidential election.
He said what Yakubu did was worse than the “sins” of Godwin Emefiele, the embattled Governor of the Central Bank of Nigeria (CBN).
“The INEC chairman must go, what he did is not up to what Godwin Emefiele did. He colluded with some people to subvert the will of Nigerians. He committed the greatest crime anybody will commit,” he said.
INEC under Yakubu has been heavily criticsed over its failure to upload election results as promised, a development that the electoral body blamed on technical glitch.
At a briefing on Tuesday, the European Union Election Observation Mission said public trust in the commission had been severely damaged.
But responding, Festus Okoye, said the glitch experienced in the upload of the February 25 presidential election in the country should not write off the entire polls held nationwide.
“It is not fair to judge the entire performance of the commission on the basis of a glitch in the result upload for the presidential election,” he said.
Speaking further in the television interview, Galadima told former Vice-President Atiku Abubakar, Presidential Candidate of the Peoples Democratic Party (PDP), and Peter Obi of Labour Party that they were wasting time challenging victor of President Bola Tinubu.
Obi and Atiku are in court to seek upturning of Tinubu’s victory.
But Galadima, who claimed that the elections were married with irregularities, added that the outcome of any presidential election has never been overturned by the courts since 1979.
“Which politician has succeeded in court since 1979 in Nigeria in a presidential petition case ?Why waste our N10bn or 15bn because we heard some people are spending such billions now on social media at the tribunal; if we have such money we would use it to prepare for the 2027 general election.
“The NNPP is strong, we did not do well because the registration of the party came late, if not for INEC targeting us and our candidates names and logo was omitted in some states, we could have performed better,” he said.
Following the recent sanction of two banks for data privacy breach, the Nigeria Data Protection Bureau (NDPB) is currently investigating five other institutions in the finance and education sectors in Ogun State for various data privacy breaches.
The Chief Executive Officers and Vice Chancellor of the affected institutions risk paying two per cent of their gross earnings in the previous year as fine or risk jail term or both, depending on the effect and consequences of the data breaches.
The National Commissioner/CEO of NDPB, Dr. Vincent Olatunji, who confirmed the sanction imposed on two Nigerian banks, told THISDAY in a telephone conversation yesterday that the banks were sanctioned after proper investigation on data privacy and protection was carried on them.
The banks are currently going through a six-month remediation course organised for their Data Controlling Officers (DCOs) and Data Processing Officers (DCOs), he said.
The implementation of the NDPB law commenced recently, after President Bola Tinubu signed it into law.
“NDPB has five institutions in its investigation list and their CEOs will risk paying heavy fine or go to jail after the breaches have been established.
“The minimum fine for data breach is N50 million and the maximum fine is two per cent of their gross earnings in the previous year.
“The two banks that have been sanctioned are currently going through six months remediation course. There are lots of data breaches going on in hospitals, hotels, aviation sector, transportation sector, and schools, which we need to address as government agency,” Olatunji said.
According to him, poor handling of sensitive data had caused lots of harm to people, adding that the NDPB was working with government agencies like the Economic and Financial Crimes Commission (EFCC), National Information Technology Development Agency (NITDA), Nigeria Police Force (NPF), Independent Corrupt Practices and Other related Offences Commission (ICPC), among others, to investigate over 110 data controllers and data processors for various degrees of data privacy and protection breaches.
He said lack of due diligence on the part of data controllers in engaging with data processors or vendors that have access to personal data of customers, has led to abuses and violation of people’s rights.
Olatunji said the NDPB law would ensure a sustainable digital economy and also strengthen the Nigerian economy, adding that the NDPB is putting plans in place to create 500,000 jobs in order to close the capacity gap in the sub-sector and help achieve President Tinubu’s goal of creating one million jobs.