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Politics / The Unfolding Binance Situation In Nigeria By Ismail Babalola by aminulive: 9:20pm On Mar 25
First, this escape of the Binance executive is sadly quite embarrassing for Nigeria, and the Government has a responsibility to thoroughly investigate it and ensure that the persons into whose care the escapee was entrusted are punished to the fullest extent of the law.

For this reason, the ONSA statement about the arrest of the responsible persons is most welcome. The promptness of the statement is also a commendable move along the lines of utmost transparency and openness.

What has happened has happened, and lessons must be learnt from it. Things like this happen, even in the best of climes. The former Head of Nissan escaped from Japanese custody, to Lebanon, in 2019, a very high-profile escape that embarrassed the Japanese Government greatly.

Former Governor of Bayelsa, Diepreye Alamieyeseigha famously escaped from the UK authorities in 2005, dressed as a woman, and while on a £1.25m bail bond, another equally embarrassing episode for that government. These things happen. The detained Binance executives in Nigeria were rightly held under a form of house arrest, not prison custody.

Looking on the brighter side for Nigeria, this escape does not significantly alter the trajectory of the case against Binance. The second official is still being lawfully held, and most importantly, the Government, through FIRS has formally filed charges of tax evasion.

The case has now fully shifted to the legal arena, and Nigeria will be seeking convictions on the 4-count charge leveled against Binance and the executives.

For me, the most important part of the ONSA statement is this paragraph: “Upon receiving this report, this office took immediate steps, in conjunction with relevant security agencies, MDAs, as well as the international community, to apprehend the suspect. Security agencies are working with Interpol for an international arrest warrant on the suspect.”

All hope is not lost. The Nigerian Government’s custody of the Binance executives is a lawful one, backed by a subsisting Court Order. On top of this, formal tax evasion charges have been filed by the FIRS, as Nigerian tax laws have clearly been violated by Binance. INTERPOL will be involved – and it seems like the escapee has simply complicated his situation, by turning himself into an international fugitive. On top of tax evasion, the escapee has now roped himself into fugitive activity.

So, while the news of the escape has not exactly covered Nigeria in glory – just like Japan and Nissan’s Carlos Ghosn in 2019 – things are looking even worse for Binance and its fugitive executive.

It is also a very good opportunity to see where the international community stands on this matter? Their noise about fighting corruption and building institutions – now is the time to see whether it's lip service or not? Will they take the side of the Federal Republic of Nigeria, or the side of a cryptocurrency exchange that has a global reputation for violating laws and regulations, and was recently hit with the biggest fine - $4.3 Billion - ever issued by the United States Treasury?

I am watching this – in the words of Fayose – with the keenness of a bat. Nigeria can still come out on top of this setback.
https://politicsnigeria.com/the-unfolding-binance-situation-in-nigeria-by-ismail-babalola/

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Politics / Generational Dissonance Or Prejudice? Seyi Tinubu And The Ignorance Of Abati by aminulive: 9:54pm On Mar 06
When the two daughters of former United States’ President Bush threw a lavish party at the height of election campaigns in the early 2000s, many commentators in the United States were irked by the development. Earlier in 2001, President Bush's then 19-year-old twin daughters, Jenna and Barbara, had been cited by Texas authorities for alcohol violations at a popular Austin restaurant.

Jenna, police said at the time, even tried to use someone else's driver's license to order a drink.

The condemnation and outrage that greeted that development didn’t only create buzz in the United States, but it was felt all around the world, with multiple debates on the public conducts expected of children of presidents and other powerful people around the world.

The general consensus at the time was that children of Presidents and other powerful people must conduct themselves in the most honorable means possible, while also keying into the dreams of their influential parents and being useful to society.

It’s in that light that the recent attack on Seyi Tinubu—entrepreneur, youth leader and son of President Bola Tinubu –—appears grossly unfair, if not out-rightly misplaced.

In a recent programme on television, media personality and ARISE TV anchor, Reuben Abati, took a swipe at President Tinubu’s sons, Seyi and Yinka, for following him to Qatar for a state visit. Abati, a former media aide to ex-president Goodluck Jonathan, went personal in his attack and reduced the industry of young men to partisan politics.

Hear him: “May we begin to ask what the President’s children do for a living? I mean, by the time I was their age I was doing something concrete. I got a PhD at 24. I wasn’t depending on any father. People must get to a stage in their lives when they hold themselves together.

“I don’t want adults behaving like invalids, hanging around just because your father is in a position….all these children of privileged people over do it…and these are boys that would probably have wives at home…some of these girls, what they go through is very embarrassing. You can’t have a husband that is just hanging around,” he said.

The attempt to ridicule Seyi Tinubu’s efforts and track record in the business environment in Nigeria isn’t only unfair and misleading; it’s disappointing that such is coming from a well-read and deeply knowledgeable anchor.

While some may argue that some protocol issues need to be corrected in terms of travels and how the president’s sons are introduced at international fora, it is grossly inaccurate to reduce the industry of young men building businesses in Nigeria and contributing to youth development to the mere fact of their father being president or to say that members of first families should not be recognized at the arrival of their world leader parent in another country. Donald Trump’s entire family stood on the specially reserved balcony whilst he and Melania were being received in London by the late queen, and Chelsea Clinton is famous for her photo with Bill Clinton and Hillary when the Queen was by their car with them. I also recall Bush coming to Nigeria with his daughter.

But like I said, we must be careful not to sully hardworking persons for the simple crime that their father is a President. Not even when these young men, particularly Seyi Tinubu, have made enormous impact in business long before their father contested for presidential elections.

For the sake of those who may be misled by such careless generalization, it is pertinent to set the record straight per the misrepresentation contained in Abati’s diatribe.

Seyi Tinubu is a serial entrepreneur and the CEO and Founder of Loatsad Promomedia Ltd, an outdoor advertising company with notable Nigerian leading blue chip and multinational companies as part of its clients. Due to several years of hardwork and resilience in building a successful brands, Seyi is highly sought after for his sound legal experience and deep knowledge of youth demographics and international business transactions.

Since opening Loatsad Promomedia ten years ago even till now after parting ways with his co-founder, Derenle, Seyi has overseen thousands of completed advertising transactions worth billions in transaction value. In 2020, in recognition of his industry and business acumen, he was inducted into the Institute of public resources management and politics in Ghana. In 2019, he was crowned the Ecowas youth Ambassador for Entrepreneurship and youth development and he also won the peace legend award as the Entrepreneur of the year. His company was also one of the few selected amongst thousands of SMEs in Nigeria to win the prestigious fastest growing company Award by Businessday in 2018.

Seyi has been at the tiller of the companies’ merger with Promomedia back in 2016, which saw the company opening up its portfolio of services by incorporating digital advertising. The company has since taken strides in defining its position in the out of Home Advertising sector with its acquisition of E-motion Advertising Ltd, a leading advertising firm.

Defining his place as a disruptor, serial entrepreneur and youth advocate, he has shown an unwavering commitment to ensuring positive change in Nigeria and empowering Nigeria’s millennial demographic to achieve their potential through entrepreneurship development.

It is to nurture that dream that he founded the Noella Tinubu Foundation in 2018, which helps to build capacity, support the vulnerable, and transform the lives of marginalized women, children/young adults and the elderly in specific communities by providing lasting solutions. The foundation works with experts in relevant fields to champion their causes, whilst looking to the future and working to keep the momentums going through innovative solutions.

The Foundation was founded in partnership with Layal Tinubu, Seyi's wife and they work with dedicated network of partners to develop and execute impactful initiatives that address various national challenges.

Seyi is equally passionate about foreign investment and privatization, information technology & (advertising) outdoor and digital, human resources, and that explains his passion to deploy his expertise to ensure that his father succeeds in such key areas. As a testament to this, he has attended numerous local and international business summits including the Lagos Small Business Summit held in 2019, SDG summit in Ghana, among others.

For his efforts, he was inducted into the Class of 2018 Hall of Fame at the Nigerian Stock Exchange; was featured in The Business Year publication and his insightful thoughts on business growth published for the benefit of readers.

In the same 2018, his company was named as one of the top 1000 fastest growing SMEs in Nigeria by BusinessDay newspaper.

For the objective-minded members of the public, what’s striking is that ALL of these accomplishments were attained nearly SEVERAL years before Seyi Tinubu’s father became president and more than a decade after he left office as Lagos state governor.

So it remains disingenuous and grossly inaccurate to reduce such level of dedication to business growth, industry, resilience and passion for societal development to the mere fact of Seyi Tinubu’s father being the president.

“What is the son but an extension of the father?” quipped Frank Herbert. There isn’t any better reflection of this reality than how Seyi has shown doggedness by following the footsteps of his father, Asiwaju Bola Tinubu.

Without doubt, Dr Abati’s Tirade on “what the President’s children do for a living” is rooted in ignorance of happenings within the fast-growing business and digital technology spaces in Nigeria and beyond, where Seyi Tinubu has remained a key player and influential source of inspiration for millions of young people.
https://politicsnigeria.com/editorial-generational-dissonance-or-prejudice-seyi-tinubu-and-the-ignorance-of-abati/

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Business / Dangote Farms Faces Liquidation For ‘Defaulting’ On Arbitral Award by aminulive: 11:06am On Mar 06
POLITICSNIGERIA.COM

A prolonged legal dispute between Dangote Farms and a global cotton company, Plexus Cotton Limited, regarding non-payment of an arbitral sum may result in the closure of Dangote Farms, a subsidiary of the Dangote Group.

Plexus, headquartered in England, entered into a cotton supply contract with Dangote Farms in 1996.However, Dangote Farms reportedly breached the agreement by delivering only 1,450 metric tonnes of raw cotton instead of the agreed 3,700 metric tonnes.

Consequently, Plexus initiated arbitration proceedings against Dangote in Liverpool, resulting in an arbitral award issued against Dangote in 1998.

The tribunal, led by the President of the Liverpool Cotton Association, found Dangote in breach of the contract and awarded $431,000 in favour of Plexus, equivalent to the unfulfilled supply plus an 8% interest rate.

Despite Dangote’s attempts to overturn the arbitral award in England and Nigeria, Court documents made available to POLITICS NIGERIA revealed their efforts proved futile. For instance, Dangote’s initial appeal before the Federal High Court in Lagos, claiming lack of awareness of the arbitration, was dismissed as incompetent.

"The fact and evidence of the Defendant outweigh the mere assertion made by the Claimant that it had no knowledge of the arbitrator or that it was denied the right to appoint its own arbitrator,” the presiding judge, Justice DT Okuwobi ruled in 2015."

"A court has no jurisdiction to award interest on an arbitral award or to otherwise interfere with the award. The counterclaim now found incompetent is hereby struck out.”

Similarly, a three-man panel at the Court of Appeal in Lagos affirmed Justice Okuwobi’s ruling in 2018.

According to the presiding judge, Justice Biobele Georgewill, Dangote cannot contest the outcome of the “arbitration it had neglected, boycotted and or failed to participate in”.

Award Value rises to $2.4 Million

With the arbitral sum unpaid for over 25 years, it has accrued to $2.45 million, according to a recent filing by Plexus at the Federal High Court in Lagos. The British company is now seeking a winding-up order against Dangote Farms to enable liquidation of the company’s assets.

“Your Petitioner therefore humbly prays that: Dangote Farms Limited be wound up by the Court under the provisions of the Companies and Allied Matters Act, 2020 for its inability to pay and satisfy its liquidated money sum owed by the Respondent to Your Petitioner and established by copies of the attached notices and orders of court.

"The Respondent's refusal to liquidate its aforesaid indebtedness to Your Petitioner has occasioned serious financial hardship and unnecessary expenses to Your Petitioner and ought to be wound up to prevent its future indebtedness to other commercial entities."

"The Respondent is, by its own admission, unable to pay its established debt to the Petitioner and the sum owed by the Respondent is increasing daily owing to the interest element, and in the circumstances it is just and equitable that the Respondent be wound-up. As of November 30, 2023, the sum had become $2,452,695.44,” the court documents filed in December read in parts.

The Case is up for hearing on March 19th
.

See COURT DOCUMENTS HERE : https://politicsnigeria.com/wp-content/uploads/2024/03/DANGOPLEX-WAT.pdf

https://politicsnigeria.com/exclusive-dangote-farms-on-verge-of-liquidation-for-defaulting-on-multi-million-dollar-arbitral-award/

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Politics / FX Crisis: MTN Reports N740 Billion Loss, Shareholder Funds Wiped Out by aminulive: 10:32pm On Mar 01
POLITICSNIGERIA.COM

MTN Nigeria Plc has announced a significant loss before tax of N177.8 billion, a stark contrast to the pre-tax profit of N518.8 billion recorded the previous year. This loss has led to the complete erasure of shareholders’ funds.

The company attributes this loss primarily to a substantial foreign currency loss of N740 billion, a stark increase from N81 billion in 2022. This marks the company's first-ever loss since it became publicly listed in Nigeria.

MTN explains that the loss is largely due to operational shifts in the Nigerian Foreign exchange market, particularly the elimination of the segmented/parallel structure announced by the Central Bank of Nigeria (CBN) in June 2023.

Using an official exchange rate of N907.11/$1 as of 31 December 2023, MTN suggests that the loss could potentially widen further if the current exchange rate between the naira and dollar persists until the end of March, when it publishes its Q1 results.

KEY FINANCIAL HIGHLIGHTS

Revenue for 2023 stood at N2.469 trillion, reflecting a 22.69% increase from N2.012 trillion in 2022.

Operating Profit rose to N773.660 billion, up by 5.38% from N734.164 billion in 2022.

Finance Income surged to N25.815 billion, marking an 87.50% increase from N13.768 billion in 2022.

Finance Cost increased to N236.927 billion, up by 60.86% from N147.287 billion in 2022.

Net FX Loss soared to N740.434 billion, an 804.93% rise from N81.822 billion in 2022.

After-tax Loss amounted to -N137.021 billion, a drastic decline from the profit of N348.727 billion in 2022.

Earnings per share plummeted to -N6.38 from N16.76 in 2022.

Total Borrowing increased to N1.177 trillion, up by 70.69% from N689.673 billion in 2022.

OPERATIONAL HIGHLIGHTS

Total subscribers grew by 5.3% to 79.7 million.

Active data users increased by 12.7% to 44.6 million.

Active mobile money (MoMo PSB) wallets surged by 163.2% to 5.3 million.

EBITDA grew by 12.3% to N1.2 trillion, with EBITDA margin decreasing by 4.5 percentage points to 48.7%.
Consequently, the net loss for the year has led to a depletion of retained earnings and shareholders’ funds to negative N208.0 billion and N40.8 billion, respectively.

Regarding dividends, MTN Nigeria has communicated that due to substantial currency devaluation and its impact on retained earnings, no final dividend payment will be proposed for the year ended December 31, 2023. However, interim dividends of N117.48 billion were approved on July 27, 2023, for the same period.

MTN Nigeria Communications Plc (MTNN) closed at N222.90 on the last day of February, representing a year-to-date loss of 15.6% for shareholders. The stock has lost 19% of its value from February 1st to date.

Despite the losses, MTN emphasized that it maintained strong free cash flow generation, which increased by 11.6% YoY to N631.6 billion.

The company commented on the challenging operating environment in 2023, characterized by rising inflation, currency devaluation, foreign exchange shortages, and geopolitical disruptions. These factors, coupled with cash shortages in Q1 due to a redesign of the naira, created significant challenges for both customers and the business. Inflation reached 28.9% in December 2023, the highest in 18 years, with an average rate of 24.5%. Additionally, the removal of the fuel subsidy in May 2023 led to higher fuel prices, further exacerbating the situation.

In June 2023, the CBN adopted a more liberal foreign exchange management system, resulting in a 96.7% unfavorable movement in the exchange rate against the US dollar, significantly impacting the cost of doing business in Nigeria, particularly with regard to tower leases for MTN Nigeria.

https://politicsnigeria.com/fx-crisis-mtn-reports-n740-billion-loss-shareholder-funds-wiped-out/

Business / BUA Cement Records 27.4% Revenue Growth Of ₦‎460bn Despite N70bn FX Loss by aminulive: 9:50am On Mar 01
BUA Cement released its audited financial statements for the full year 2023, revealing robust revenue growth of over 27 percent, totaling N460 billion. This achievement comes amidst challenging economic conditions stemming from the Naira redesign policy.

Despite facing these significant hurdles, including Naira devaluation and persistent inflation, the company demonstrated resilience, posting a revenue growth of 27.4 percent. However, production costs soared by 39.5 percent to N276 billion, compared to N197.9 billion in 2022.

In the face of these challenges, BUA Cement reported a net foreign exchange loss of N70 billion, primarily attributed to finance costs related to the construction of additional 3mmtpa lines at its Obu and Sokoto plants, as well as foreign trade payables amounting to N17.5 billion. Nonetheless, the company managed to achieve a net profit after tax of N69.5 billion.

Yusuf Binji, the Managing Director/CEO, acknowledged the tough operating environment in 2023 but highlighted the company's initiatives that contributed to revenue growth, including the BUA Cement Scratch and Win promo. Furthermore, the commissioning of new production lines and gas power plants at Sokoto and Obu plants, along with investments in distribution infrastructure, bolstered market presence.

Binji emphasized the company's commitment to addressing Nigeria's housing and infrastructure needs sustainably while striving to make cement more affordable. He also noted the completion of the new 70MW gas power plant in Sokoto and anticipated activation of the same plant in Obu during the first quarter of 2024.

In his words: "Clearly, the operating environment in 2023 was challenging, given the different headwinds confronted with at the start of the year and especially with the devaluation of the Naira. During the year, we launched the maiden edition of the BUA Cement Scratch and Win promo., among other initiatives, which saw BUA Cement further increase its share of the market and resulted to a 27.4 per cent rise in revenues to N460 billion from N361 billion in the prior year."

"In addition, we commissioned the new 3mmtpa lines at the Sokoto and Obu Plants, activated a new 70MW gas power plant in Sokoto and eagerly await the activation of the 70MW gas power plant at Obu during the first quarter of 2024,"

Jacques Piekarski, the Chief Financial Officer, praised the company's resilience in the face of economic challenges. Despite the foreign exchange loss, EBITDA increased by 9.6 percent to N169.3 billion, reflecting the company's confidence in its business prospects and evolving strategy for growth.

https://politicsnigeria.com/bua-cement-records-fy-2023-profit-of-n460bn-despite-n70bn-fx-loss/

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Politics / NANS Writes Open Letter To Tinubu, Accuse Dangote Of Mismanaging CITN Funds by aminulive: 10:15am On Feb 26
POLITICSNIGERIA.COM

The National Association of Nigerian Students, NANS, has written an open letter to President Bola Ahmed Tinubu over the mismanagement of the Cement Technology Institute of Nigeria (CTIN) under the leadership of Aliko Dangote.

Below is a full transcript of the letter seen by POLITICS NIGERIA;

"We, the National Association of Nigerian Students (NANS), being the voice and representatives of the Nigerian Students, a large percent of youth constituency of our population and by extension defender of oppressed citizens and advocate of the Nigerian masses, the bearers of our nation’s future and voice of the voiceless young generation."

"Today we are raising our voices in protest, We are writing to you to express our deep concern and outrage regarding the mismanagement and lack of accountability within the Cement Technology Institute of Nigeria (CTIN), an organisation under Alh Aliko Dangote’s Leadership as pioneer and self imposed life Chairman."

"The alleged misused, diversion and misappropriation of such strategic fund intended to provide training and development opportunities for Nigerian youth in the cement industry in line with the establishment goals of CTIN is a weighty one, in fact it's a future-threatening act and an act of economy sabotage."

"Certainly, the fund has been squandered, leaving a trail of broken promises and shattered dreams as nothing can be pointed at as an achievement in this regard."

"The situation of countless Nigerian youths, who remains unemployed and lacking technical skills in a rapidly advancing global economy like ours, is a harsh testament to the repercussions of such mismanagement and embezzlement. Another hidden factor responsible for the unprecedented hike in cement price in the country."

"We are living in a country where our potential is suppressed and our future is uncertain courtesy of greed and selfishness of a microscopic few in position of authority, while leaders of our industries such as Aliko Dangote with such a special intervention fund failed to do the needful but rather enrich themselves by diverting such funds intended for our growth and development for only God and Dangote known purpose and use."

"We demand answers, we demand accountability, we demand explanation and we demand justice."

1. In clear terms, We urge Mr President to issue a directive to Federal Ministry of Industry, Trade and Investment to make public as a matter of urgency and national importance her role so far, the status, management, and usage of the over 20billion Naira (about $100 million as at then) contributed as levies on imported cement to CTIN for technical training purposes since over 10 years ago when Nigeria was still importing cement.

"We know and we are fully aware nothing has been done with the fund in line with its purpose. This is money that should have gone to government coffers for investment in our vocational and technical education system."

"Alh Aliko Dangote has been sole chairman since this institution was created by the Federal Ministry of Trade in conjunction with cement importers - hence why we are also demanding an explanation directly from Alh Aliko Dangote as to where is the said fund."

"Your Excellency, to avert degeneration of this matter, where all Dangote industries will be occupied by Nigerian students nationwide, kindly advice Alh Aliko Dangote to immediately engage an external independent forensic auditor to audit the CTIN funds, and we also demand that anyone found guilty be held accountable for their actions."

"We further demand swift action towards restructuring the leadership and governance of CTIN, nothing like life chairman, it should be democratic to prevent such overstay that is bringing severe mismanagement of what should be the People’s commonwealth from happening in the future."

"We demand from Chairman CTIN Aliko Dangote , an explanation on his level of involvement as to what looks to the public as a mismanagement and misappropriation of the CTIN funds."

"The Nigerian youth will no longer remain silent as our potential is suppressed and our futures are jeopardized by anyone."

"This is not a plea for answers; this is a demand for accountability, transparency, justice and a rallying cry for all those who believe in Nigeria's potential and the rights of its youth to education, opportunity, and a fair shot at success."

"We will not rest until every penny of the funds is accounted for, and until those responsible for this shameful betrayal of trust by hiding these funds and not using them for their right purpose, are held accountable publicly."

"We will use every available platform and legal recourse to seek justice and ensure that such a breach of public trust never reocurs."

"Alhaji Aliko Dangote, CTIN members, Ministry of Trade, Industry, and Investment, the Nigerian youth are waiting, and we demand your swift and thorough public response within seven days of publication of this letter."

https://politicsnigeria.com/nans-writes-open-letter-to-tinubu-accuse-dangote-of-mismanaging-citn-funds/

Politics / BREAKING: FG Blocks Binance, Octafx, Other Crypto Firms Amidst Naira Plunge by aminulive: 9:00pm On Feb 21
POLITICSNIGERIA.COM

In a bid to curb what it perceives as the continuous manipulation of the forex market and illicit movement of funds, the Nigerian government has taken decisive action by blocking the online platforms of prominent crypto firms, including Binance.

POLITICS NIGERIA learned on Wednesday evening, that the Nigerian Communications Commission (NCC) had directed telecommunication companies in the country to block access to these platforms. Alongside Binance, other affected platforms include Forextime, OctaFX, Crypto, FXTM, Coinbase, and Kraken.

This move follows earlier considerations by the government to stem the free fall of the local currency, the naira. Sources from the presidency and regulatory bodies revealed that the decision to target Binance and other crypto firms was prompted by concerns over currency speculation and money laundering activities facilitated by these platforms, which are believed to be contributing to the weakening of the naira.

A check carried by our correspondent as at the time of filing this report, using a device connected to MTN LTE network, shows that Binance(binance.com) and OctaFX are currently unaccessible.

Binance, a leading digital assets platform, has been under scrutiny by Nigerian authorities since September 2023 when the country's Securities and Exchange Commission (SEC) disclaimed its operations, labeling them as 'illegal'.

Despite the warning, Binance continued its activities, garnering significant patronage, particularly among urban youths and suspected speculators and money launderers.

Aside from economic concerns, officials have also raised alarms about national security, citing the platforms' use by criminal groups for activities such as ransom payments.

In response to these developments, Binance has stated its commitment to working with local authorities and regulators to address compliance issues, including taking action against manipulative behavior on its platform.

The Nigerian government's decision to block access to these crypto platforms underscores its determination to maintain stability in the forex market and combat financial crimes.

However, this move has sparked debates about the implications for digital asset trading and the broader financial landscape in Nigeria.

https://politicsnigeria.com/breaking-fg-blocks-binance-octafx-other-crypto-firms-amidst-naira-plunge/

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Business / Dangote Raid: Is This An End To "Sacred Cows" In The Business Community? by aminulive: 10:04pm On Jan 12
When the Nigerian President, Bola Ahmed Tinubu, was sworn in on May 29, 2023, his first policy intervention in Nigeria’s opaque, corruption-laden oil sector surprised everyone. “Subsidy is gone!” Tinubu exclaimed during his inaugural address at the Eagles Square, Abuja, shortly after he was sworn in as the 16th President of Nigeria. He added that there was no provision for subsidy in the national budget from June 2023 and, therefore, it stood removed.

If international investors had any doubt about Tinubu’s commitment to combat Nigeria’s hydra-headed corruption and sanitise the nation’s economic policy space, the declaration indeed put paid to it, and signalled his intent from the start.

Not relenting in its reform drive, barely a month after the subsidy removal declaration, the Tinubu government through the Central Bank of Nigeria (CBN) announced the unification of all segments of the forex market collapsing all windows into one. The bank said it was part of a series of immediate changes to operations in the Nigerian Foreign Exchange (FX) Market, in a bid to improve liquidity and Naira stability.

In its reaction to the raft of policy reforms, the International Monetary Fund (IMF) applauded the economic reforms, noting that the measures were a pathway towards stronger and inclusive growth.

A former President of the World Bank, David Malpass, also lauded the economic strategies employed by Tinubu since assuming office. In a tweet, Malpass declared: “Glad to see @officialABAT taking concrete steps to scrap Nigeria’s harmful government subsidies and multiple exchange rates. These are important steps toward currency stability, lower inflation, and reduced corruption in Africa’s most populous country.”

As in all reforms, the ripple effects of the policies are being felt across boardrooms and on the streets, even as government remains optimistic about the long-term benefits.

While the reforms have shown the direction of the Tinubu government’s economic policy, they have also shown how audacious the president can be in driving reforms in the interest of Nigerian poor masses, without giving undue advantage to businesses considered “sacred cows”.

Tinubu himself made this known at a civic reception organised in his honour by the Lagos State Government at Lagos House, Marina, last October.

“I could afford to share the benefit by participating in the arbitrage, but God forbid! That’s not why you voted for me,” Tinubu said at the reception, defying the possible impact of the audacious moves on public sentiment.

“We have no choice,” he added, noting that it’s important to ensure the good use of available resources to unable government “re-engineer the effectiveness of the control and management of our resources in order to meet the obligations to Nigerians by political officeholders.”

The Price of Audacity

Last week, officials of the Economic and Financial Crimes Commission (EFCC) visited the Dangote Group headquarters in Lagos as part of an investigation into forex allocation in the past years.

Dangote Group is one of Africa's largest companies owned by Billionaire businessman, Aliko Dangote.

The move was part of the ongoing investigation into the abuse of the foreign exchange allocations by former CBN governor, Godwin Emefiele, under whom reports said there were preferential foreign exchange allocations made in defiance of extant financial rules and regulations, and the CBN Act.

Already, Emefiele is being charged for gross violation of extant laws and abuse of office, according to a report by Jim Obazee, a Special Investigator appointed by President Bola Tinubu to scrutinise the activities of the CBN under the former CBN Governor.

The Obazee report, as seen in national dailies and which is yet to be made official, alleges that Emefiele employed surrogates to obtain shares in a new-generation bank during his tenure at the helm of the Central Bank of Nigeria (CBN). Other accusations in the alleged report against Emefiele encompass a spectrum of financial misdeeds, including unauthorised funding of 593 offshore bank accounts, fraudulent cash withdrawals from the CBN vault, gross financial misconduct involving the former governor and his Deputy Governors, and substantial fixed deposit holdings amounting to £543.4 million.

He is also accused of manipulations of the Naira exchange rate, irregularities in the e-Naira project, unauthorised printing of new currency denominations, and substantial expenditures on dubious legal fees, fraudulent interventions, COVID-19-related irregularities, and misrepresentation of presidential approvals on various financial strategies.

Since the recent EFCC investigations began, there have been concerns on how the optics of such investigations could affect the business environment and possibly scare investors away.

But could a move to sanitise the system, curb corruption, instill discipline and provide level-playing fields for all businesses indeed jeopardize investment and scare away investors?

Like BAT, Like MBS

The fears around President Bola Ahmed Tinubu’s reforms are reminiscent of similar fears around a sweeping crackdown on corruption ordered by Crown Prince Mohammed bin Salman, also known as MBS, in Saudi Arabia.

When the reforms began, reports premised on scaremongering dominated media headlines as many wondered what the ripple effect of the reforms could mean for the Saudi economy.

But against the background of the reforms, outlined in the Kingdom’s Vision 2030 blueprint, Saudi Arabia is all set to become one of the most sought-after destinations for businesses in the Middle East and North Africa region.

44 international companies have already moved their regional headquarters to Saudi Arabia, according to official figures, with the prospects improving by the day. At least 80 firms have been issued regulatory clearances to establish their offices in the Kingdom, too.

In recent months, several noted firms, including PwC Middle East and Egypt’s Intella, inaugurated their regional headquarters in Saudi Arabia, indicating Saudi Arabia’s investment-friendly evolution.


In Nigeria, a PwC report on the impact of corruption shows that corruption in Nigeria could cost up to 37% of Gross Domestic Products (GDP) by 2030 if it is not dealt with immediately. This cost is equated to around $1,000 per person in 2014 and nearly $2,000 per person by 2030.

What can be deduced from the report is that Nigeria cannot attain economic development and inclusive growth that will lift millions of Nigerians out of poverty until corruption, especially in business environment, is fought head-on.

So far, with the probe of the CBN, cancellation of round-tripping through the abolition of multiple exchange windows, and removal of opaque, unsustainable fuel subsidies, the Tinubu government has shown a rare commitment to fighting corruption and ensuring a fair investment ecosystem—one that gives investors equal access and opportunities irrespective of where they come from. Without doubt, this has sent positive signals to investors and businesses (local and foreign) worried about Nigeria’s sometimes opaque systems.

To quote a Bloomberg publication on corruption, "Graft may always be with us, but governments can choose either to tolerate and even assist it, or to confront it vigorously." Will the Tinubu government continue on this pathway of sanitizing endemic corruption or will it bow to scaremongering by vested interests?

Dumebi Ifeanyi is a senior public affairs analyst for Communications and Digital Engagement Nigeria

https://politicsnigeria.com/dangote-raid-is-this-an-end-to-sacred-cows-in-the-nigerian-business-community-by-dumebi-ifeanyi/

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Politics / EFCC Raid: Has Emefiele Thrown Dangote Under The Bus? by aminulive: 10:16am On Jan 05
Beware the fury of a betrayed friend. A patient, pitiless friend like Godwin Emefiele. The embattled former Governor of the Central Bank of Nigeria (CBN) may be out for blood amid his trial for fraud and official misconduct during his time as CBN head honcho.

Indeed, revenge is the sweetest morsel to the mouth that ever was cooked in hell. Against the backdrop of the invasion of Aliko Dangote’s office by operatives of the Economic and Financial Crimes Commission (EFCC), speculations are rife that the man hitherto regarded as Africa’s richest billionaire may have been thrown under the bus by the former CBN boss.

Sources close to the duo revealed that the EFCC’s three-hour invasion and ransack of Dangote’s office and archives, today, may be connected to his rumoured falling out with his ex-buddy and business associate, Emefiele.

The latter had reportedly reached out unsuccessfully to Dangote, from detention.

It is alleged that Dangote persistently snubbed attempts by the ex-CBN governor to get his attention; likewise he reportedly snubbed members of Emefiele’s family who tried to seek his assistance for their breadwinner who is currently facing trial for financial misappropriation, including a major transaction involving Dangote, during Emefiele’s tenure as CBN governor.

Frustrated, Emefiele reportedly started singing like a canary to the anti-graft agency, so doing, implicating a lot of his cronies and associates – many of whom have abandoned him in his hour of need.

Thus when the EFCC operatives stormed the Lagos head office of the Dangote Group to conduct a search on forex allocations to the company during the tenure of Emefiele as CBN governor, many concluded that its Emefiele hacking his pound of flesh of Dangote, who allegedly betrayed him. Dele Oyewale, the EFCC’s spokesman, has also confirmed the development.

It would be recalled that, on June 9, President Bola Ahmed Tinubu suspended Emefiele from office with immediate effect. This was disclosed in a press statement from Willie Bassey, the Director of Information for Secretary to the Government of the Federation, George Akume.

Emefiele’s suspension followed an ongoing investigation of his office and the planned reforms in the economy’s financial sector. Emefiele’s suspension and subsequent trial have been linked to a significant scandal involving the borrowing of $1 billion that occurred just before the inauguration of the new administration of President Tinubu.

Startling revelations emerged, shedding light on Emefiele’s actions in obtaining the funds. It is alleged that on April 24, 2023, after the elections and in preparation for the May 29 inauguration, Emefiele borrowed $1 billion from Afrexim Bank.

Shockingly, within two days of receiving the money, $750 million was swiftly transferred to Aliko Dangote’s Dubai accounts using a Form A transaction. These revelations have sent shockwaves throughout the nation, raising concerns about integrity, collusion, and potential abuse of power. It is claimed that the Tinubu then the new President-Elect, was kept in the dark about this transaction.

The scale and method of the transaction are deeply troubling. Sources within the CBN suggest that Emefiele sold the dollars to Dangote at an exceptionally low rate of N445 Naira to the dollar.


On April 24, 2023, $1 billion was deposited into the CBN JP Morgan account from Afrexim Bank. Within two days, $750 million was transferred to Dangote’s Bluestar Dubai account using the “Form A” transaction method, bypassing the requirement of a Letter of Credit. Bluestar has had connections to Dangote since 2007.

While some CBN officials expressed concerns about these transactions, the revelations underscore the potential for money laundering and illicit activities within Nigeria’s financial system, casting a shadow on the CBN’s integrity during Emefiele’s tenure.

There is no gainsaying President Tinubu took decisive action by suspending Emefiele and initiating a thorough investigation of his tenure as CBN governor.Emefiele, who is seeking a plea bargain in the criminal suit filed against him by the federal government is facing a 20-count charge over an alleged conspiracy to carry out procurement fraud, among others.

It would be recalled that both Emefiele and Dangote enjoyed a chummy relationship before Emefiele’s sack and subsequent trial and things went awry between them. Back then, no favour was deemed too much or expensive by Dangote as a means of oiling his relationship with the ex-CBN governor.

For instance, he saw nothing wrong in releasing his private jet, a couple of times, to Emefiele, who enjoyed unrestricted access to the aircraft.

Going about in Dangote’s private jet apparently made work easier for the CBN governor. He did not have to queue to board commercial airlines and he found it extremely comfortable and luxurious to travel in style aboard the aircraft of Africa’s richest billionaire and philanthropist.

Both men are definitely a long distance from that era and they’ve drifted far apart.

https://politicsnigeria.com/efcc-raid-has-emefiele-thrown-dangote-under-the-bus/

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Politics / The New Nigeria Under President Tinubu, By Fredrick Nwabufo by aminulive: 9:57am On Jan 05
The new Nigeria under President Bola Tinubu is one not shackled by atavism, dogma, and primordialism. It is a Nigeria defined by the purest ideals of fairness, equality, and justice. It is a Nigeria run on the eternal H20 of unity, purpose, and shared vision. It is a Nigeria of immense promise.

President Tinubu has been relentless in spreading the pollens of positivity, unity, and truth, fecundating minds and thoughts and mobilising consciences towards his vision. Leadership must possess the facility to inspire trust for the collective vision, and this agency the administration is galvanising. During the Christmas holidays, on different platforms, the President dispatched his accustomed statesmanship and statescraftship. He held seminal meetings where he reiterated his vision for a united and prosperous Nigeria.

Speaking at the Ansar-Ud-Deen Central Mosque in Surulere, Lagos, on December 22, 2023, where he went to observe Jumaat prayers marking the centennial anniversary of the Ansar-Ud-Deen Society of Nigeria (ADS), the President reaffirmed his avowed essence, declaring that he would always be fair to all Nigerians and that his administration remained committed to advancing the unity of Nigeria, as well as ensuring the welfare and prosperity of all citizens.

''We are committed to enthroning a better society for our citizens irrespective of ethnic, religious, or geographical differences. The various policies already in place are expected to bring great succour to our people. We know their pains, and we are addressing them holistically," he said.

In his sanctuary, the President held meetings with a rich blend of Nigerians across the divide, and across groups and persuasions – in his true aspect as a President blind to the polarising profiles of colour, complexion, class, and provincial stratification. A President for all.

Among those, who visited the President were governors, political leaders, business figures, and a whole gamut of Nigerians. Governor Alex Otti of Abia State, one of the governors who visited, said after a meeting: “One thing is that he has a very courageous, unifying policy; the exchange rate and then removing subsidy, which actually had become a scam and costing us a lot of money. Those policies are good but then they come with the negative sides. They come with challenges for an economy where over 60 percent of the population is living below the poverty line. So, it’s not going to be easy, immediately. But I believe that if we are patient and if we go through the policies without compromising, over time, things will turn around.”

The Tinubu administration has been making deliberate, sincere, concerted, and sustained efforts to engender national cohesion. The principal ingredients for national or social cohesion are justice, fairness, equity, and trust, and these the leadership is advancing. The staunchest advocate of national cohesion and unity is the President who seizes every opportunity to declare truth, togetherness, and fairness.

In his New Year’s address, the President reprised his true form, declaring that he would always give every Nigerian equal opportunity to thrive and prosper. The President said: ‘’Fellow Nigerians, my major ambition in government as a Senator in the aborted Third Republic, as Governor of Lagos State for eight years and now as the President of this blessed country is to build a fair and equitable society and close the widening inequality. While I believe the rich should enjoy their legitimately earned wealth, our minimum bargain must be that any Nigerian that works hard and diligent enough will have a chance to get ahead in life. I must add that because God didn't create us with equal talents and strengths, I cannot guarantee that we will have equal outcomes when we work hard. But my government, in this new year 2024 and beyond, will work to give every Nigerian equal opportunity to strive and to thrive.’’

The new Nigeria under President Tinubu is not one manacled by the isms -- classism, sexism, and schisms. It is a Nigeria where citizens can thrive and prosper irrespective of demographic or geographic divergences; where women and the youth are prioritised, where hard work is rewarded and where any citizen can reach the pinnacle of his calling by sheer industry.

The new Nigeria under President Tinubu is not one characterised by insouciance and obduracy. It is a Nigeria where the leadership is attuned to citizens, focalising the welfare of the vulnerable and the most vulnerable segments of the population.

The new Nigeria under President Tinubu is a Nigeria rekindling hope with potent actions in the promises of a greater today and tomorrow. It is a Nigeria of possibilities. We can be better; we can be greater. We can be united. We can come together.

The new Nigeria under President Tinubu is a Nigeria we all have to support and work for. We all have our part to play in the Nigeria Project.

Fredrick Nwabufo is Senior Special Assistant to the President on Public Engagement[i][/i]

https://politicsnigeria.com/the-new-nigeria-under-president-tinubu-by-fredrick-nwabufo/

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Business / ₦‎3.7 Million 'Dissappears' From Customer's Account In Ecobank by aminulive: 1:45pm On Nov 26, 2023
In a shocking revelation, Peter Ezeike, a customer of Ecobank, has accused the bank of orchestrating the theft of N3,755,000(Three million, Seven Hundred and Fifty-Five Thousand naira) from his savings account during the period of 2018 to 2019.

Ezeike, who had been residing in the United Arab Emirates (UAE) since 2017, returned to Nigeria in 2021 only to discover the significant financial loss.

According to him, the unauthorized transactions took place while he was away in the UAE, with all the activities on his account between 2018 and 2019 transpiring without his knowledge. Despite being the sole operator of a savings account, he found that deposits and cash withdrawals occurred without his consent, including a suspicious payment of N100,000 to an unfamiliar name, Aderinoye A. Quazeem.

The customer suspects insider involvement and points to his prior relationship with Ibrahim Akeyan, a former Ecobank staff at the Sango Ota branch in Ogun State. Ezeike alleges that he frequently left money with Akeyan when unable to join a queue for deposits before relocating to Dubai.

Speaking to the Foundation for Investigative Journalism, Ezeike said; “Mr. Ibrahim Akeyan was an employee of Ecobank at its Sango Ota branch in Ogun State. He was a regular face. Several times I would leave deposit money with him if I was unable to join a queue for some reason. We related freely and he knew my account details. There was never a problem then,” the Dubai returnee said.

“He is the person I suspect had tampered with my account due to that relationship I had with him. Some events that played out after I reported the missing money to the bank further reinforced my suspicion against him and even the bank itself.”

When contacted, Akeyan denied knowing Ezeike; "I don’t know the person. I dealt with many customers and I cannot remember the name you are mentioning. The customer should approach the bank for whatever issues they have. I handed over properly before exiting the bank, and if there are questions for me to answer, it is the bank that will invite or call me.", he said.

Upon his return to Nigeria in 2021, Ezeike was astonished to find an insufficient balance in his account. A detailed examination of his statement of account covering November 1, 2018, to March 30, 2021, revealed a series of unauthorized withdrawals and deposits, all transacted in his name at the Idi-Iroko branch.

Attempts to clarify the situation were met with further complications. Ezeike applied for another statement of account at the bank’s branch at Redemption Camp of the Redeemed Christian Church of God on November 22 the bank official who attended to him said his account had been blocked and the request could not be processed.

The accused branch of Ecobank initiated an investigation but has yet to provide any resolution or restitution to the customer.

Ezeike reported the suspicious transactions to Aderemi Adeleke, the branch's customer service manager, and Olajide Folake, the branch manager, seeking a thorough investigation. However, the situation took an unexpected turn when Ibrahim Akeyan contacted Ezeike on his newly acquired Nigerian phone number.

Perplexed by this development, Ezeike questioned the bank officials, only to discover that they had released his contact information to Ibrahim without his consent. The justification provided was to inform Ibrahim of the investigation before potential arrest. This revelation left Ezeike disheartened and further fueled his mistrust in the bank's handling of the matter.

Despite four scheduled meetings, Ibrahim Akeyan failed to attend any, raising more questions about the bank's commitment to resolving the issue. The case has now reached the attention of the head office, prompting a virtual meeting. However, Ibrahim's non-compliance continues to hinder progress, leaving Ezeike in the dark regarding the status of the investigation and the recovery of his funds.

This incident highlights the urgent need for a comprehensive investigation into the alleged misconduct, and Ecobank is under scrutiny for potential internal lapses that may have facilitated the unauthorized transactions.

As the investigation unfolds, the bank faces growing pressure to address these serious allegations and provide a transparent account of the events surrounding the disappearance of Peter Ezeike's funds.

https://politicsnigeria.com/trouble-as-n3-7-million-dissappears-from-cutomers-account-in-ecobank/

Politics / Court Stops PDP From Removing Anyanwu As National Secretary by aminulive: 1:08pm On Nov 24, 2023
A Federal High Court (FHC) in Abuja has restrained the Peoples Democratic Party (PDP) from.removing Sen. Samuel Anyanwu as national secretary pending the hearing and determination of the substantive matter.

Justice Inyang Ekwo, in a ruling, granted the ex-parte motion moved by Joshua Musa, SAN, on Thursday, a copy of the order made available to the News Agency of Nigeria (NAN) on Friday.

Justice Ekwo subsequently adjourned the matter until Dec. 4 for hearing of the motion on notice.

NAN reports that two members of the party; Geoffrey Ihentuge and Apollo’s Godspower had sued the PDP, Umar Aliyu Damagun (acting National Chairman) and National Executive Committee (NEC) as 1st to 3rd defendants.

Others are the National Working Committee (NWC) and Independent National Electoral Commission (INEC) as 4th to 5th defendants respectively.

The motion was brought pursuant to Order 26, Rules 2 and 6; Order 28, Rules 1 and 2 if the FHC (Civil Procedure) Rules, 2019 and under the inherent jurisdiction of the court.

The plaintiffs, who sought five reliefs, prayed for an order of interim injunction, restraining the 1st, 2nd, 3rd and 4th defendants from carrying out the threat to remove the national secretary (Anyanwu).

This, he said, is a violation of the provisions of Article 47 (1) of the Constitution of the PDP (as amended in 2017) pending the hearing and determination of the motion on notice.

They sought an order restraining the PDP and its executives from preventing Anyanwu discharge his functions as an elected national Officer as contained in Article 36(1) of the Constitution of the party.

They also sought an order of interim injunction restraining them from appointing any person as acting national secretary of the party when Anyanwu’s tenure is still running and subsisting until Dec. 9, 2025 pending the hearing and determination of the motion on notice.

They equally sought an order restraining INEC (5th defendant) from recognising any purported appointment of any person as PDP’s national secretary whether in acting capacity or otherwise other than Anyanwu, whose tenure of four years was still running and subsisting until Dec. 9, 2025 pending the hearing and determination of the motion on notice, among others.

Giving a 16-ground argument, the plaintiffs argued that Article 47(1) of the PDP Constitution provided for a tenure of four years for its executive committees at all levels from the date of inauguration.

They argued that Anyanwu was duly elected on Dec. 10, 2021 and was entitled to remain in office till Dec. 9, 2025. They said that an elected national officer of the 1st defendant cannot be arbitrarily removed from office in any manner howsoever without his resignation and in breach of party’s constitution.

They argued that there must be a vote of no confidence as required by Article 47(3) of the party’s constitution proposed or moved at a national convention before a national officer like Anyanwu could be removed from office, among other arguments.

Justice Ekwo granted the prayers after the motion was moved.
The News Agency of Nigeria (NAN) reports that Anyanwu was the PDP candidate in the Nov. 11 Imo governorship election where Sen. Hope Uzodinma of All Progressives Congress (APC) was re-elected.

The PDP’s NWC had, on Nov. 14, asked Anyanwu to step aside and directed Setonji Koshoedo to take over as acting national secretary.

Until his appointment, Koshoedo was the deputy national secretary.
PDP acting National Chairman, Damagum, who announced after the NWC meeting, explained that Koshoedo’s appointment was pending the resolution of the issues.
https://politicsnigeria.com/breaking-court-stops-pdp-from-removing-anyanwu-as-national-secretary/

Business / "Blame No One But Yourself" - BUA Replies Dangote In Explosive Letter by aminulive: 2:45pm On Nov 03, 2023
POLITICSNIGERIA.COM

BUA Industries has finally responded to several allegations levelled against its management in 7 Page-Editorial by Aliko Dangote.

In a statement signed by its management sent to POLITICS NIGERIA, BUA detailed several acts of Sabotage by Dangote on their businesses and Operations around the country.

Read the full response below;
https://politicsnigeria.com/breaking-blame-no-one-but-yourself-bua-replies-dangote-in-explosive-letter-photos/

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Properties / BUA Distributors In Edo, Sokoto Start Buying Supplies at 3,500 by aminulive: 10:32am On Oct 16, 2023
Events in the cement sector in the last couple of weeks have been really worrisome.
Ever since BUA Group Chairman, Abdul Samad Rabiu disclosed that his products would be sold at 3,500 per bag, the other players in the industry have been jittery.

First, the media was and is still agog with rhetorics over whether the price reduction was possible and feasible. Obviously, most of these did not come from outsiders in the industry but sponsored by industry leaders who feel threatened. Because these have not worked, stories of BUA Cement unavailability started circulating, also from the same sources.

Meanwhile, investigations revealed that BUA Distributors in EDO, Sokoto and some other parts have been picking their supplies at 3,500 per bag.

Indeed one of them,
Mike Igwe, a distributor who spoke with us confirmed that ever since the price was reduced, he has been buying at that price and that those who claim that BUA is yet to effect the price change don’t know what they are saying.

According to him, ‘the other manufacturers have reasons to be afraid. They are definitely going to lose out in the market’. Who will abandon where he’s buying for 3,500 NAIRA per bag and go to Dangote where he will pay over 5,500 Naira? he further asked.

Speaking further the Benin-based cement dealer suggested that road transportation, especially the bad roads occasioned by the rains could have been the reason why other parts of the country did not immediately enjoy what he and many other distributors around had been enjoying. However with the rains already going, other parts of the country, must have started receiving their supplies at the new price. He also figured that BUA must have jerked up production to meet the increased demand as more buyers are switching over.

Other distributors we spoke with revealed that Dangote specifically has come under intense pressure since the price reduction by BUA and has been looking for ways to ensure that he does not lose customers. They confirmed that Dangote has been giving out one free truck for every seven trucks bought by distributors, all in a bid to ensure that he saves his face. But, according to builders we spoke with, this form of tokenism will not trickle to retailers and there is no way the consumers can feel it either. This is because if you give one truck to a distributor who bought seven trucks, he will prefer to sell rather than give away the cement.

There is no doubt that Dangote and Lafarge’s reaction to BUA’s decision to cut the price of cement really betrayed their position vis a vis the current situation in the country. Nigerians need succor from all fronts. They need business leaders who can rise above money making interests and feel for the people.

Both organizations have been jittery and have resorted to arm twisting BUA rather than taking concrete steps to try and maintain their share of the market.

It is also worthy of note that sponsored analysts are springing up to make wild claims that the price cut is neither practicable nor sustainable. This, industry players know is coming from those who feel threatened by the BUA move.

For Dangote, many distributors saw this opportunity as a major step towards moving away from the company’s high handed practices. Those who spoke with us pointed to the fact that they cannot pay cash to him but only credit. According to them, Dangote will always hold on to their cash whenever price changes. He will hardly make refund if there’s increase in price unless you pay the extra money added on top.

This is unlike the practice with BUA where they supply you the goods with the old price even if there’s price increase. And given the volatility of the market presently, with BUA Cement promising to reduce the price further when they hit the 17million Tons per annum target, no one will like to be caught off guard.

Nigerians need to mount pressure on the other major cement manufacturers to join BUA in reducing the price of cement. The pressure created by the BUA move could be seen in the number of times Dangote has come out to deny any form of price increase. Meanwhile, rather than decreasing the price so that the masses can benefit, he has decided to gift distributors one truck each if and when they buy seven trucks. His intransigence and unwillingness will further make the market volatile, unpredictable and consumers may continue with this till first quarter of 2024 when BUA hits the 17million tons per Annum target and force all of them to drop prices to the 3,000 NAIRA per bag which Abdul Samad Rabiu promised Nigerians.

The dilemma the other manufacturers face now is that prices are already coming down and this trend will continue as BUA cement gets supplied at the new price all over the country.

It’s only a matter of time.

https://politicsnigeria.com/cement-price-war-will-the-propaganda-panic-measures-against-the-bua-initiative-work/

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Politics / Atiku’s Desperation For Presidency By Adamu Mohammed by aminulive: 1:58pm On Oct 10, 2023
The Presidential candidate of the People’s Democratic Party, Atiku Abubakar, reached the zenith of his ambition to secure the highest office in the country when he recently stirred unbridled controversy by alleging irregularities in the certificates of President Bola Ahmed Tinubu.

As a supposed seasoned politician with a long and intriguing history in Nigerian politics, those acquainted with Atiku are well aware of his lifelong aspiration to clinch the presidency. However, his journey to attain the prestigious position has been marked by sheer desperation manifested in the ongoing dramatisation of his fabricated Chicago State University saga.

It is also not entirely surprising that Atiku would descend so low to provoke such a widespread public outcry, despite unwavering evidence that contradicts his claims about President Tinubu. Lack of integrity, as it is said, renders a man’s character as hollow as an empty vessel and Atiku’s reputation unmistakably attests to this.

Even during his civil service days, he displayed disloyal tendencies, such as when he, as the Customs Officer overseeing Murtala Muhammed Airport, defied an official directive.

The 53-suitcase scandal, which surfaced in 1984 during the currency exchange operation mandated by then Buhari administration required the inspection of all arriving baggage, irrespective of the traveller’s status. Shockingly, Atiku flouted this regulation thereby causing a major uproar that deeply scandalised the Nigerian government. With a trail of ridiculously shocking questionable wealth, a retinue of wives amidst other needless acquisitions it was unsurprising that Atiku and one of his wives were fingered in a trillion dollar corruption case and placed under close watch by the Financial Crimes Enforcement Network (FinCEN), an agency of the US Department of Treasury.

Parts of the report revealed that between 2000 and 2008, his fourth wife, Jennifer Douglas who is a US citizen, assisted Atiku, a seating Vice President to launder over $40 million into the United States. The case which was widely and globally published, once more, put Nigeria damagingly on international spotlight, causing a barrage of embarrassment to the country. Most recently, his links to a fraudulent Special Purpose Vehicle (SPV) scandal represents just a fraction of the countless corruption tags attached to his name.


Therefore, his constant display of questionable attributes should perhaps come as no shock from a man whose history is marked by dubious antecedents. It is little wonder that his political career has been characterised by a series of twists and turns in his insatiable quest to Nigeria’s Presidency which has morphed into bouts of desperation.

His frustrations are nevertheless understandable. Records have it that in 1993, when he was 47 years old, he ran for the presidency and failed to clinch the seat. Again in 2007, under the Action Congress party, he contested and lost. Also, in 2011, he once more failed at the presidential polls by a wide margin. In between switching parties, he contested in 2015, 2019 and 2023, and suffered irreparable defeats.

It is evident that Atiku is yet to recover from the irreversible loss of the 2023 election which has plunged him into this frantic state, as evidenced by his recent pitiable action of tarnishing the image of President Tinubu and by implication, Nigeria at large. At the age of 76, time has swiftly passed him by. By 2027, provided we are blessed with continued life, Atiku will be about 80, which is undeniably advanced in age and greatly diminishing his electoral prospects. What eludes Atiku’s awareness is that he is now reaping the consequences of his dubious past. Nigerians are not naive enough to elect a man with such a tarnished reputation. It is high time he woke up and smelt the cookie. He should avoid placing blame on others; his past actions are the sole spectre haunting his political aspirations.

Previously, Atiku held the position of Nigeria’s Vice President from 1999 to 2007, serving under President Olusegun Obasanjo. However, his relationship with the former president soured, resulting in his departure from the ruling party at that time, the PDP. In Obasanjo’s words in his book “My Watch” Atiku was described as having corruption tendencies, disloyal, frequent dishonesty, poor judgment, reliance on marabouts, lack of transparency and a willingness to sacrifice ethics and national interest for personal gain. Considering his long-term goal of becoming President, one might have expected Obasanjo to support Atiku’s leadership in 2007. However, Atiku’s disloyalty and inability to work as a team player became evident once again before their term ended.

After winning the 2023 Presidential primaries in his party, the PDP, his inability to prove he is an astute leader led to intraparty divisions with his own party members under the leadership of Nyesom Wike, turning against him. This indiscretion contributed to his defeat. Desperately too, Atiku has asked Peter Obi and Rabiu Kwankwaso, fellow Presidential Candidates to jettison their ambitions and support him. Laughable! Only a desperate man like Atiku will make his type of suggestions. No one else ever matters. It is only about him Selfishness. This is what narcissism is all about.

All through his history and propelled by desperation, he destroyed his political chances using his own hands. Today he is a drowning man grasping at straws. Trying desperately at every perceived opportunity to grab the presidential seat but so far, his actions have proved futile. It is a pity. Having recently lost at the Presidential Tribunal, he has yet again begun pursuing another illusion, the supposed loopholes in President Tinubu’s certifications. His pain and anger is however understandable; he cannot bear seeing the person who is responsible for his defeat rule peacefully. For the record, despite their brouhaha and intentional propaganda and manipulation of facts, the Chicago State University has claimed President Tinubu as their former student. He not only graduated, but when his letter of admission was issued, it was addressed to a Mr Tinubu. This alone counters the lies around female allegations in his bio and the Chicago State University also confirmed it was a clerical mistake. Despite the noise, the depositions are there on the internet confirming that indeed President Tinubu got a diploma from the institution. It has also clarified that Universities in the US do not prioritise issuance of certificates but only transcripts. In the case of loss of such certificate, as in the President’s case, third parties are allowed to reissue them which is where he obtained his from. For intellectual Nigerians, the cacophony surrounding the matter is baseless; they know the truth. The deposition which is clear and in black and white, serves as a witness of the truth irrespective of activities of mischief makers who are twisting the facts and misleading the public.

Regrettably for Atiku, history will likely remember him solely as a serial presidential candidate, a bitter runner-up whose desperate actions are gradually eroding what remains of his reputation. Those close to him may advise him; If he believes in Allah and destiny, it is time to take a bow and rest from his political pursuits. Let him take a back seat and play the role of an elder statesman. An old adage says that if a king does not have good advisers, he will one day come out naked. It may be worthwhile for Atiku to embrace the concept of predestination and put an end to this embarrassing charade.

Adamu Mohammed, a political analyst, writes in from Zamfara

https://politicsnigeria.com/atikus-desperation-for-presidency/

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Politics / How CSU Authenticated Tinubu’s Records And Replacement Diploma by aminulive: 1:37pm On Oct 06, 2023
Chicago State University has resolved the controversy surrounding President Bola Tinubu’s academic background by confirming the authenticity of his records and certificates, as revealed in a collection of documents obtained by this newspaper.

The Opposition Peoples Democratic Party (PDP) Presidential candidate in the 2023 election, Atiku Abubakar, had subpoenaed the university to provide records of Tinubu’s graduation in 1979.

In compliance with a US court order, the university submitted the documents to Abubakar’s legal team on Monday. However, since the submission, numerous reports have circulated, insinuating that the President forged his certificates or had a forged identity.

Nevertheless, the full transcripts of the deposition given by the university’s registrar, Caleb Westberg, have vindicated the President and put the controversies to rest.

During the deposition, which lasted over two hours, Westberg provided details on how the university authenticated Tinubu’s documents, including a replacement certificate. The 125-page deposition obtained by this newspaper revealed that Westberg mentioned the university had been receiving inquiries about Tinubu’s records for the past 20 years, ranging from five to 30 requests per day.

Validation

The CSU Registrar affirmed that Tinubu graduated from the institution in 1979, majoring in Accounting under business administration. He also verified that the certificates presented by the university in 1979 bore similarities with the replacement diploma Tinubu obtained in 1999.

The university had provided other replacement diplomas with the same design, font, and logo as the one presented to Bola Ahmed Tinubu.

Confirming Tinubu’s certificate, Westberg noted that the institution possessed a reordered copy of the President’s replacement diploma. He also clarified that the university held copies of the President’s transcripts as additional evidence of his scholarship.


“In general in the US, the diploma is a ceremonial document. In other countries, it is a more official document. For us, it is not,” he noted.

Gender Argument

Central to the controversies was the speculation that some of the documents addressed Tinubu as a female.

Examining Westberg’s testimony, Abubakar’s attorney, Angela Liu, asked, “So how are you sure that Bola A. Tinubu, listed here as female, is the same Bola A. Tinubu, who is President of Nigeria?”

Addressing the discrepancy, Westberg stated that the university was not confused about Tinubu’s gender.


“The university is not confused about that. We issued an admissions letter to Mr. Bola Tinubu. He applied as a male student. That is a part of the record,” he said.

Regarding the review of the SSN (social security number) on the document being circulated as showing Bola Tinubu as female, the registrar stated that it was clearly an error.

“Human errors happen,” the official commented.


When asked how the university concluded that President Tinubu was the same as the Bola Tinubu who attended the school in the 1970s, Westberg noted that the school reviewed materials, including Tinubu’s student file, addresses, names, fields of study, and other relevant details.

“The university would have reviewed all of these materials when we received them,” he stated in response to a question from Tinubu’s lawyer, Henderson.

https://politicsnigeria.com/full-documents-how-csu-authenticated-tinubus-records-and-replacement-diploma/

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Politics / Seyi Tinubu Stops A Street Fight In Abuja (Photos) by aminulive: 5:25pm On Oct 02, 2023
Seyi Tinubu, the son of President Bola Tinubu, was captured on video attempting to defuse a heated altercation among a group of young individuals in Abuja yesterday.

Footage seen by our correspondent shows Seyi Tinubu in the midst of the confrontation, firmly gripping the head of one of the youths while engaging in a conversation.

He was surrounded by others on a street in the capital city of Abuja.


Despite the young man's attempts to break free, Seyi Tinubu maintained his hold on him throughout the incident. The precise circumstances that led to the President's son finding himself in this unusual situation remain unknown.

Eyewitnesses reported that his intervention played a crucial role in de-escalating the situation, preventing potential harm, and restoring order.

https://politicsnigeria.com/presidents-son-seyi-tinubu-involved-in-abuja-altercation-in-abuja-street-video/

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Politics / BUA Crashes Cement Price From N5000 To N3500 by aminulive: 10:15am On Oct 02, 2023
POLITICSNIGERIA.COM

BUA Group has announced a reduction in the price of cement from N5,000 to N3,500 per bag.

In a statement on Sunday, BUA Group noted that the new price will take effect from Monday, October 2, 2023.

The statement, titled ‘Reduce in Prices of BUA Cement’, reads: “We refer to our previous pronouncements regarding our intent to reduce cement prices upon the completion of our new lines at the end of the year, in order to spur development in the building materials and infrastructure sectors.

“As per the commitment made to reduce prices and following a periodic review of our operations for efficiency, the management of BUA Cement Plc wishes to announce and inform our esteemed customers, stakeholders, and the public that effective October 2, 2023, we have decided to bring the price reduction forward. As a result, BUA Cement would now be sold at an ex-factory* price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.

“Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17million metric tonnes per annum, BUA Cement PLC intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.

“NOTE: all pending, undelivered orders which had been paid for at the old prices will be reviewed downwards to N3500/bag in line with the new pricing from October 2, 2023. Our licensed dealers are also enjoined to ensure that end-users benefit from this reduction in ex-factory prices as we will monitor field sales to ensure compliance.”
Politics / Imo 2023: “Don’t Vote For Insecurity,” Samdaddy Tells Anglican Bishops by aminulive: 10:02am On Oct 02, 2023
The governorship candidate of the Peoples Democratic Party (PDP) in Imo State, Senator Samuel Nnaemeka Anyanwu has urged Anglican Bishops across Imo state not to vote for any candidate that has failed the constitutional responsibility of curbing insecurity, appealing to them to vote for PDP whose previous administrations were adjudged to be most peaceful and prosperous.

Anyanwu maintained that Imo people have witnessed untold hardship since Uzodinma took over the governorship seat, and warned that suffering, and starvation may continue if APC is allowed to continue in the state.

He said that so far, lots of human lives have been wasted in the state, regretting that most of the people murdered in cold blood for committing no offence are still crying for justice. He advised those in the habit of killing pastors, and Bishops to desist and repent to be useful in society.

Anyanwu maintained that for the tears of those killed to receive justice, the land of Imo state needs to be spiritually and physically appeased or cleansed to pave the way for the growth and development of the church as well as the society at large.

The PDP flag bearer stated this while speaking as a Guest at the 2023 3rd session of the 22nd Synod of the Anglican Diocese of Owerri held at the Christ Church, Owerri with the theme: “Effective Use of Your Spiritual Gifts for Service and Church Growth”.

“If I become the Governor, my government will approve yearly subvention for the revival of mission schools and the religious groups in the state. I am not bothered about the November 11 Governorship election, I am excited and preparing for my swearing-in because God has already conducted the poll in my favour”.

“In today’s financial record for sponsoring each of the Imo youths to Europe, it will cost the state N6,500,000 after all travelling processes. Put the entire cost together to reflect the 4, 000 people, it will amount to N26, 000, 000, 000 (twenty-six billion Naira). This is an impossibility that my APC opponent cannot do. I advise him that instead of spending such a huge taxpayers money for a fruitless exercise, he should give each of the 4, 000 Imo youths a token of N6 million to set up businesses here in the state to become self-reliant and employers of Labour in a few years if indeed Uzodinma is not playing politics ”


According to him, society is gradually going down the drain simply because political leaders in all spheres of public office have refused to activate their spiritual lives to reflect the present realities, adding that until leaders begin to imbibe the spiritual life of Christ in them, the growth of the society would continue to wane.

Anyanwu therefore called on them to mobilize their members across the state for PDP, assuring them of his desire to stop insecurity, boost agriculture, construct quality rural and urban roads and bring peace back to the state.

Meanwhile, he was accompanied by his Deputy, Rt Hon Jones Onyereri, Prince Marshall Okafor-Anyanwu (Secretary General of the Campaign Council), Hon Mike Ahumibe (PDP S’East Org. Sec), Evang. Mike Ikoku, Chief Hon Dennis Okwu (Sweet Apple), Hon Henry Onwukwe, and Chief Ben Duru.

Others include Dr Emeka Onyema, Mazi Ikenna Onuoha, Lolo Esther Aguwamba, Lady Huldah Ihetuge, Barr Gerry Egbuhuzor, Hon Jude Opara, Barr Tony Eze, Mr Chibuike Obiukwu, and a host of women, and youth groups, amongst others.

https://guardian.ng/politics/imo-2023-dont-vote-for-insecurity-samdaddy-anyanwu-urges-imolites-fires-uzodinma/

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Politics / Fear In NNPC As Dangote Struggles To Get Approval To Operate Refinery by aminulive: 7:11pm On Sep 22, 2023
The Dangote Refinery, a significant undertaking in Nigeria, is enmeshed in new controversy. This time, there is tension between the Nigerian National Petroleum Corporation (NNPC) and Aliko Dangote, Africa's richest man and owner of the Dangote Group, which has sparked concerns over the safety, quality, and ethics surrounding the refinery.

Inside sources have informed us that Alhaji Aliko Dangote has applied for a license to operate, which is the last step of approval before any refinery can start any form of production but NNPC, the regulatory body has hesitated to provide this license due to safety concerns, because the refinery remains uncompleted. He also approached the NNPC to purchase crude but the NNPC declined saying they cannot sell crude to a refinery that is uncompleted. It is now alleged that Dangote is trying to source Nigeria’s crude through trading houses which he would then import into Nigeria - a move that might be seen as 'going through the backdoor.'

But even if he gets the crude, there are safety and quality concerns voiced by employees of Dangote, contractors, and some officials at NNPC. Without the completion of the refinery, there are concerns that the quality of jet fuel and diesel produced would be subpar. NNPC is anxious because substandard jet fuel and diesel could endanger lives. The refinery, as it stands, can only carry out the first phase of crude distillation which is similar to what illegal refineries operating in the Niger Delta region have been found to do. However, due to the complex nature of the Dangote Refinery, whose catalytic cracking unit is still uncompleted, the quality of the refined products is in question.

It is alleged that some staff within the Dangote Group have voiced their apprehensions regarding the move to start the refinery without its completion. Despite these valid concerns, Dangote's response suggests a desperate need for the venture to work, potentially as a 'matter of survival.'

Financial Strain biting hard?

Dangote is reported to be mired in significant debt, pushing the company to the brink of receivership if they don't secure additional funds to repay certain loans by December. This financial pressure may explain why Dangote is so eager to secure a license to start operations, even with the refinery not being fully complete.

POLITICS NIGERIA recalls that earlier this year, the uncompleted refinery was hurriedly commissioned by the former President Buhari in order for Dangote to access additional equity funding from the Nigerian Government as well as a crude allocation of 300,000 barrels per day which insiders say would have been sold to raise cash for creditors and partly fund the completion of the refinery. This crude allocation was however put to a hold when the new Government of President Tinubu was sworn in, and it was discovered that the refinery was far from being complete but was falsely commissioned in order to take the crude allocation and sell outside the country.

The standoff between Dangote and the NNPC underscores a broader issue of safety, quality, and financial security that have bedevilled the Dangote refinery project. With concerns over substandard products potentially jeopardizing lives of workers at the uncompleted refinery and Nigerians in general, and a major business figure risking immense financial losses, the resolution of this impasse will have far-reaching implications for Nigeria's oil industry.
https://politicsnigeria.com/fear-grips-nnpc-as-dangote-struggles-to-get-approval-to-operate-uncompleted-refinery/

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Jobs/Vacancies / CONTENT WRITER NEEDED - Scholarship And Job Articles by aminulive: 6:30pm On Sep 21, 2023
A good content writer is urgently need for a longtime job. You will write unique articles on Travel and scholarships.

pls fire an email to gumview12@gmail.com with a portfolio of previous articles written.

Thanks
Politics / Senators Scheming To Oust Akpabio Hire Marabouts, Plot To Crush Tinubu's Govt by aminulive: 6:56pm On Sep 16, 2023
Some disgruntled senators keen on impeaching Senate President Godswill Akpabio are also scheming to ‘destabilize’ President Bola Tinubu’s government, this newspaper can report authoritatively.

Reliable sources familiar with the grand scheme identified four Senators from the North, including two former Governors from the Northwest region, who are heavily committed to the plan.

In the past weeks, several meetings have been held by these Senators who are bent on ousting Akpabio, which is the ‘first phase’ of their plan.

Two of those meetings were held outside the country, this newspaper gathered.

According to sources in the National Assembly, Akpabio’s closeness to the President threatens the independence of the legislature and some lawmakers have frowned at that.

Some other Senators are still aggrieved about the emergence of the leadership of the National Assembly and the zoning arrangement adopted by the All Progressives Congress, APC.

“These people have not been pacified and are willing to do anything to make sure Akpabio is removed,” said a top official who does not want his name disclosed.

This newspaper also learnt that the aggrieved lawmakers have been meeting with other colleagues to win them over to their side in a bid to get enough votes for impeachment.

“Some lawmakers and Governors from the South are also in on the plan. Two lawmakers from Southwest have joined the group,” another source commented.

As of the last count, they have secured the support of ten Senators, while still expecting a positive feedback from many others.

Plan to destabilise

As part of the plan, these Northern Senators also hired Marabouts in Saudi Arabia to ‘pray’ and ‘lobby’ to create a 'situation' in the Nigerian Senate in order to change its leadership

Further Investigations showed that they are also making plans to make the Tinubu Government unpopular in the Northern region by employing services of armed non-state actors.

“This plot is being spearheaded by the senator from Bauchi who is the head of a major security committee in the senate,” a source privy to the plan confirmed.

He added that the lawmaker has also utilised this sensitive position to form alliances with violent non-state actors to create insurrections in the north with the goal of destabilising Tinubu's government.

“You noticed that reports of bandit killings and kidnappings have reduced. They are planning to resume their activities in full force,” the source disclosed.

All of these are attempts to force the President to negotiate with them and let them produce a new Senate President should they fail to get the majority votes needed to impeach Akpabio.

Floating new party

The aggrieved lawmakers, after removing Akpabio, agreed to float a new party that will rival the ruling APC.

According to sources, they have also concluded the registration of the party using some of their cronies who are outside of the APC. The new party, sources said, would exploit the weakness of the Tinubu-led administration to cede power back to the North in 2027.

Some of the Northern elites and businessmen have also committed resources to ensure that this happens in the 2027 general election, our reporter gathered.
https://politicsnigeria.com/senators-scheming-to-oust-akpabio-hire-marabouts-plot-to-destabilise-tinubus-govt/

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Business / Otudeko Vs. Otedola: First Bank Shareholders Lose ₦‎80.76bn, Shares Crumble by aminulive: 12:49pm On Sep 14, 2023
It's no longer news that First Bank shares have been on a downward trajectory with shareholders losing billions since the battle for control of the one-time troubled bank ensued.

A report by Enigeria News which chronicled the history of a series of battles between billionaires struggling to have control of the bank since 2019 when the management tsunami that saw the ousting of Oba Otudeko’s alleged proxy, Ibukun Awosika, occurred in what was known to many as a careful operation allegedly spearheaded by the now disgraced and suspended former governor of the Central Bank of Nigeria, Godwin Emefiele also revealed other sensitive issues that almost sank First Bank despite its classification as a Systemic Important Bank (SIB).

However, in his recent comeback which is still under contention, Otudeko on June 2023 after acquiring the largest share in First Bank in a cross-deal valued at N87.8 billion became the highest individual shareholder in the bank, a move that has become the biggest nightmare of his fellow billionaire Femi Otedola.

The shares that Otudeko bought at N19 per unit are said to be the largest volume of First Bank shares traded in a single day since 2012 when the stock exchange started publishing data, according to a report by Arise News.

The move was considered to be too good to be true, as shareholders were thrown to discomfort over the validity of the trades as they strongly held the view that no single shareholder hitherto officially owned as many shares, and just like World War II, the battle between Otedola and Otudeko ensued ever since.

Although in a recent Annual General Meeting which is still being contested in court, Femi Otedola was appointed a director by some shareholders of the bank; his ragging battle with Otudeko continues to rub off negatively on innocent shareholders of First Bank who daily decry rising losses after several billion went down the drain following the recent collapse of FBN shares in the stock market.

According to ENigeria Newspaper, the stock market performance of FBN Holdings has not been encouraging lately. This is as the company’s share fell to N19.80 kobo, from N21.5 kobo per share.

It was also learned that the total market valuation of FBN Holdings fell to N710.72 billion from N771.74 billion earlier reported a few months back.

Consequently, recent data again suggests that the impact of the raging battle between Otedola and Otudeko continues to wreak havoc as First Bank Shares plunged further with shareholders now losing another whopping sum of over N80.76bn.

This is as Shares of First Bank dropped from N18.80 on August 18 to N16.55 on August 25, causing shareholders to lose N2.25 for every single share held.

For instance, on Monday, August 21, FBNH shares began trading at N18.80 with a market capitalization of N674.83bn but it plunged to N16.55 per share, triggering a fall in market capitalization to N594.1bn.


The drop led to a loss of N80.76bn, making FBNH shareholders the 6th biggest losers in the reviewed period based on a percentage drop in share prices.

It is important to note that the bank has suffered its first blow since Otedola was elected on August 15 at the company’s AGM despite an interim injunction blocking the FBNH from holding its AGM.  Otudeko has the largest majority shares held by an individual in FBNH with 13.3 percent of the company’s issued share capital of 35,895,292,791.

Otedola occupies the second place with 7.57 percent of the company’s issued share capital. Meanwhile, in the first half of 2023, FBNH declared N 187.2bn profit after tax and N383.28bn interest income.
https://politicsnigeria.com/otudeko-vs-otedola-first-bank-shareholders-lose-n80-76bn-shares-crumble/

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Politics / Reimagining Govt Communications: The Digital Frontier And The Tinubu Presidency by aminulive: 1:48pm On Sep 04, 2023
To an outside observer, deciphering Nigeria's digital government communications in years past may have seemed like trying to find one's way through a bustling Lagos market during rush hour - vibrant, but chaotic. Individual voices, personal social media handles, fragmented narratives; the cacophony was deafening, and the message often lost. Same for many Nigerians. Getting a straight story from government officials once meant diving into a digital maze. Nigerians had to sift through tweets, Facebook posts, even Instagram stories from personal handles of government aides, seeking what’s official amidst personal reflections. The challenge? Too many voices, not enough clarity.

This wasn't merely an issue of optics; it was symptomatic of a deeper malaise, a lack of robust structures, systems, and institutions guiding our digital voice. In the digital age, where clarity is prized and misinformation spreads in seconds, the stakes couldn't be higher. Where the government communications from personal handles scaled through, it became an albatross on the neck of the government because, governance is not simple mathematics - things could change during implementation and thus communications not properly structured at the time of dissemination could later become promises unkept to the populace. And for a nation as dynamic and diverse as Nigeria, clear, consistent, and unified communication is not just desired; it’s a must. While global counterparts have effectively harnessed digital channels for streamlined information dissemination, Nigeria used to seem lost in the cacophony of personal glory and voices. Notice me syndrome, I call it.

Then began the Tinubu era, heralding a season of change.

The first noticeable shift was structural. There was an intentional movement away from fragmented communications, towards consolidating voices both on traditional platforms and digital ones. This does not look to be about stifling individuality; it seems as results are showing, to be about coherence. The structural framework put in place has so far ensured that while multiple conversations happened, they echoed a central theme, a unified narrative. I believe president Bola Tinubu made a right choice picking trusted hands and diverse communicators and journalists with solid backgrounds from his team. From Tunde Rahman, his longtime spokesperson and former editorial staff of Thisday Newspapers to Tope Ajayi - the affable and well rounded journalist and media practitioner, Otega Ogra, the young, experienced and well respected communications strategist - a former Director of Communications at BUA Group who also setup and partly managed the President’s digital communications programme leading to his primaries and elections, Abdulaziz Abdulaziz - one of the notable voices from the north in the media space who was a former deputy editor of Premium Times and on the editorial board of Daily Trust , and finally, Ajuri Ngelale, a crossover from the previous administration known for his nuanced, passionate takes on the Presidency who is now the president’s official spokesperson, President Tinubu has created a dream team of senior advisers in communications.

But structure alone isn't enough; you need systems that work. For instance, bringing in a strategic communications expert from the organised private sector was a masterstroke. This will be the first time ever it is happening in the Nigerian Presidency. It felt like introducing a sophisticated traffic management system to our erstwhile bustling market. In less than a month since they have been appointed, the flow of presidential communications became smoother, more efficient. Messages are now timely, consistent across all platforms, and in sync with the realities of the digital age.

Institutionally, there has been a clear shift in ethos. No longer is digital communication seen as an afterthought, an 'add-on' to traditional means. Yet, while they have made significant strides, the digital highway is ever-evolving, and there’s more ground to cover. Here’s a thought - true communication isn’t just about talking; it’s about listening. Platforms that foster this two-way dialogue, where feedback isn’t just received but actively sought, can be transformative. Now, the media aides must be given agency, and equipped to handle the demands of the 21st century without the unspoken bureaucracy that hindered the jobs of media aides in the last administration especially in the digital and broadcast spaces. If this is done, it will be akin to turning our beloved 'Buka' into a fine-dining experience – the essence remains, but the approach and delivery are elevated.

As the Tinubu Presidency navigates this new terrain, there's more to be done. The media team need continuous training for themselves and those of the ministers to adapt to the ever-evolving digital landscape. If they are not already doing this, they need to set up a Presidential Communications Team that encourages in-house coordinations. Feedback systems with the public should be institutionalized especially in digital and broadcast, ensuring a two-way conversation between the government and its people.

Our youth, the digital natives, shouldn't just be passive recipients of information. They should be active participants, integrated into the very systems and structures that govern digital communication. It should be about co-creation and as we strengthen these systems, transparency should be foundational, ensuring that the very structures we build are trust-worthy because where there are hiccups, and there will be, transparency is vital. In an age where information is always at our fingertips, honesty isn’t just the best policy; it’s the only one.

Lastly, on representation. We have one President, one Presidency. Yet, the voices that echo this Presidency’s ideals can be manifold and the media aides must avoid a situation which projects them alone as trusted voices. Respected figures, especially from traditional media, must be coopted as they can act as effective amplifiers online and offline, ensuring the essence of the message remains undiluted. Leveraging respected figures, will help amplify the central narrative, making it resonate far and wide and build even more trust in the Presidency’s messaging and narratives. The media aides will need to ensure that the public is not moved to thinking they are the Presidency alone. Ample face time must also be given to other individuals and systems that make the presidency tick. That’s how you build trust in systems.

In wrapping up, it's clear Nigeria is on a transformative journey. Under the Tinubu administration, if his media and communications team decide to focus on structure, sustainable systems that will outlive their time in government, and institutions, Nigeria will not just be improving its government communications; it will be redefined positively.

If they can sustain this in the Tinubu Presidency, there’s a promise of more coherent days ahead in terms of communications. Here’s to clarity, coherence, and a Nigeria that speaks - and listens - with one vibrant, unified voice.

https://politicsnigeria.com/reimagining-government-communications-the-digital-frontier-and-the-tinubu-presidency/

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Politics / Imo Guber: Okorocha, Araraume Collapse Support Structures For PDP's Anyanwu by aminulive: 4:44pm On Aug 30, 2023
The Imo State Chapter of the Peoples Democratic Party (PDP) has inaugurated its campaign council for the Nov. 11 governorship election with a boost from two APC stalwarts, Rochas Okorocha and Senator Ifeanyi Araraume.

Their endorsement of the PDP candidate, Senator Samuel Anyanwu was announced at the event in Owerri on Tuesday.

Several members of Okorocha's Rescue Mission Group and Araraume's Destiny Group announced their endorsement of Anyanwu adding that he was the only candidate who could wrest power from Uzodinma.

The council was inaugurated by the party’s Chairman, Mr Charles Ugwu. Speaking on the development, Ugwu revealed that the campaign will have Ikenga Ugochinyere, a member of the Federal House of Representatives, as Director-General, and Prince Marshal Okoroaforanyanwu as Secretary.

He charged all party members to work towards ensuring the party’s victory in the election.

The Party's Gubernatorial Candidate, Senator Samuel Anyanwu, during his speech, disclosed that he is in the race for the position of Governor to end killings and insecurity in the state, revamp the state’s health system and restore the dignity of the workforce and pensioners alike.

He said that he would return tourism to the state and get the local governments working again. He charged the council not to be afraid, but to carry out its lawful duties and not be intimidated by any person or group.

“I will lead and I fear nobody. I want to stop the bloodletting and suffering in the land. Do not be afraid, I know where I’m coming from.

“I am your messenger and I will lead you right. My name is Samuel, God has spoken and I have heard”, he said.

Okoroaforanyanwu, secretary of the council said that the PDP’s choice of Anyanwu, who is from the Imo East senatorial district , favored the principle of equity.

He said the district had ruled the state for only seven months since the return of democratic rule in 1999.

https://dailytrust.com/imo-okorocha-araraume-collapse-support-structures-for-anyanwu-as-pdp-inaugurates-council/

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Politics / Hope Uzodinma And The Illusion Of A Second Term By Dumebi Ifeanyichukwu by aminulive: 11:12am On Aug 30, 2023
When the Supreme Court of Nigeria did the unimaginable on 14th January, 2020, by transposing the fourth to first in the Imo State governorship election; many knew the state was in for a rough ride. The graveyard silence and atmosphere of despondency that pervaded the state told it all.

As a cloud of uncertainty engulfed the state, Senator Hope Uzodimma who had trailed a distant fourth in the 2019 governorship election in the state was thrown up and sworn in as the governor of Imo.

This decision by the apex court altered the political configuration in the state which had sought to rotate the governorship seat among the three geopolitical zones of the state. It also brought to futility what Imolites had considered their greatest political breakthrough of shifting power to Owerri Zone after Orlu Zone's 16 years and Okigwe's nine years. As a decision by the highest arbiter of the land which no one could overturn, Imolites had to face their sad fate.

One would have expected Uzodinma to engage in some introspection aimed at making deft moves towards winning over the hearts of the people. But rather than do this, He found his best friends in those who made him the governor.

He alienated himself from the people and acted as if nobody mattered. As indeed, nobody elected him, so to say.

In case anyone was still hoping against the odds, Uzodinma spared no time in dispelling any modicum of doubt that he had not come for the people of Imo. Civil servants were about the first to receive a hit. Workers were subjected to the worst form of humiliation and branded ghosts under the guise of verification. Salaries were seized for months. Those who dared cry out were victimized.

A case in point was that of a senior editor of Imo Broadcasting Corporation (IBC), Mrs. Vivian Otti, who was queried and subsequently suspended for making a post on Facebook appealing to the governor to pay her salaries as she was nursing her new baby and desperately needed her salaries.

Most terrifying was the fact that this happened in May 2020, during the COVID-19-induced lockdown. While other states and countries across the globe sought ways of cushioning the stifling effects of the lockdown, Imo workers groaned under the deprivation of salaries. Otti, however, was persecuted and harassed by the state government until she threw in the towel and resigned from her work.

Under Uzodinma's administration, Imo lost its pride as the hospitality destination of the East, with an enchanting nightlife.

Today, many indigenes of the state, particularly those who hail from Orlu Zone and Okigwe have abandoned their homes to insecurity. Visitors now dread coming to the state, which a few years ago, was reputed for its peaceful disposition and tourism potential.

In road construction, one should be honest enough to give the governor a pass mark on the Owerri - Orlu road. But other road projects in the state could best be described as the shame of governance. Owerri - Okigwe road, Naze - Ihiagwa road, MCC road, Port Harcourt road, all caved in, no sooner than they were completed and commissioned. These cosmetic projects were part of the reasons for which the immediate past president, Muhammadu Buhari visited the state more than four times. The governor apparently seems more interested in impressing his Abuja benefactors than committing to good governance and its attendant dividends to the Imo people.

Imo never had it so rough and humiliating as it had been in the past three and half years. What Uzodinma ought to be doing now is apologizing to Imolites for his abysmal performance as governor of the state. But no, he won't do that; Africans don't do that. Power is not relinquished in this clime; it can only be retrieved.

Imo will therefore have to retrieve power from Uzodimma come 11th November 2023. His having another chance on the governorship seat of the state is as elusive as the inaccessible Island Rail. On what achievement will Uzodimma hinge his campaign for another term? What can he count as his achievement for the almost four years he has spent on the saddle? What is he going to tell the people? Of course, no well-meaning Orlu man will support Orlu Zone having another slot in 2023 after 20 years of holding the levers of power.

Uzodinma is aware of these odds against his retaining the seat of governance, hence his desperate moves. Spending the remaining months in Abuja, in a bid to worm his way into the heart of President Bola Tinubu will not save him. It is also too late to curry the support of workers and cajole them into approving his second-term bid, with a ridiculous salary increase.

Does it not betray rationality that a governor who could not pay the N30,000 minimum wage approved by the federal government since 2019, would suddenly announce N40,000 minimum wage for workers? Imo is among the states yet to implement the N30,000 minimum wage and the Labour unions will tell anybody that cares to know.

His administration is still in a running battle with legitimacy ever since the controversial Supreme Court Judgement. For those who may not know, Legitimacy is the foundation of governmental power, exercised, both with a consciousness on the government’s part that it has a right to govern, and with some recognition by the governed of that right.

Elections are scheduled to hold in the state in November, barely two months from now and the general perception is that his administration will employ every underhand technique to win. Perhaps, what he does not know is that Imolites know more than he thinks they know.

All things considered, Uzodimma's days in office are numbered. The earlier he realizes this, the better for him.

Imolites await him at the ballot!

https://guardian.ng/politics/hope-uzodinma-and-the-illusion-of-a-second-term/

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Politics / The Deceptive Tactics Of IPOB By Emeka Jerome by aminulive: 11:22am On Aug 18, 2023
All warfare is based on deception. Hence, when able to attack, we must seem unable; when using our forces, we must seem inactive; when we are near, we must make the enemy believe we are far away; when far away, we must make him believe we are near –Sun Tzu

In the words of the revered war strategist Sun Tzu, deception is a critical component of war execution. Echoing Sun Tzu's teachings, the proscribed Indigenous People of Biafra (IPOB) has refined the craft of deception, using a tapestry of falsehoods to advance and achieve their objectives.

This treatise will highlight how the group has continually employed deception as a weapon of war to deceive gullible members, keep the public attracted to them and deepen its presence in the south east. No doubt, IPOB's ascent to prominence was founded upon a bedrock of deception right from its inception. Spearheaded by Nnamdi Kanu, the emergence of IPOB was an outgrowth of the supposedly reformed Movement for the Actualization of the Sovereign State of Biafra (MASSOB), a pro-secessionist group that had already seen its power wane and was known for its cunning activities and propensity for violence.

Although IPOB came into being in 2012, Kanu had already garnered a significant following due to his inflammatory broadcasts on Radio Biafra, a responsibility he had taken on as a member of MASSOB. Recognising that the decline of MASSOB could spell the end of his influence, Kanu, aiming to secure both relevance and financial gain, intensified his facade of advocating for Biafra's freedom.

He accomplished this by spreading propaganda against the Nigerian Government and fostering optimism among the susceptible members of the public. By rebranding and emerging as a new entity, IPOB projected an image of a fresh movement seeking self-determination while carefully avoiding associations with MASSOB's past activities. His strategy worked because in no time, Kanu assumed command over the sphere of IPOB's operations, rapidly ascending to its helm.

When IPOB started its brand of agitation, it was cheered on. Nnamdi Kanu became an overnight messiah. The poor vulnerable uneducated market apprentices became his ardent followers.

He exploited them. Kanu adequately deployed his expertise of Radio Biafra to deceive. By broadcasting incendiary messages and misinformation, he manipulated emotions and perceptions of the public to IPOB’s advantage. The false narratives he propagated about the Nigerian Government's actions and intentions fuelled anger and frustration among his followers. The use of hate speech and derogatory language against Government, portraying them as oppressors and enemies of the people painted a one-sided narrative of victimhood which generated sympathy for their cause, making it difficult for their followers to critically assess the situation. By leveraging international media attention, IPOB amplified their narrative on a global scale.


Sensationalized headlines and stories about their activities played into their strategy, allowing them to maintain the façade of a legitimate movement fighting for self-determination while downplaying or omitting their more radical actions.

The group while orchestrating actions that provoked responses from the Nigerian Government, created martyrs and gained international sympathy. Most of their tactics aimed to paint IPOB as a peaceful movement unjustly oppressed by a hostile government, thus diverting attention from their own aggressive activities. Ironical!

Unsurprisingly, Igbo diaspora across Europe and America began to join IPOB. Politicians back home were consulting its leader, Kanu. His house became a Mecca of sorts. Kanu got emboldened and then, combative. He became proud and dictatorial. His words were feared. He aspired by every means to be like Ojukwu, famed for his lionic roars. Kanu had disciples. Within this newfound position, Kanu artfully manipulated the collective sentiment, leveraging deception to foment hostility towards the government under the guise of championing the elusive cause of Biafran freedom. His financial resources began to significantly swell in different hard currencies.

He skillfully garnered financial support from both the rich and the poor under the ploy of rallying donations to fuel the secessionist agenda. Simultaneously, as his personal coffers grew richer, he persistently peddled false hope to his followers, deceitfully and heartlessly portraying himself as their champion in the struggle. Kanu became bolder and went ahead to establish a military Wing, the Eastern Security Network (ESN). Operating ostensibly to counter Fulani herdsmen in the South East or so we were told, the ESN initiated a series of assaults designed to stoke the flames of ethnic conflict and destabilise the nation. Paradoxically, the reported activities of Fulani herdsmen have notably diminished, however IPOB's actions in the region has remained persistent.

In what initially appeared to be a child’s play in the beginning, soon transformed the South East into a breeding ground for violence, marked by a surge in assassinations, bloodshed, intimidation and various forms of mayhem.

Security agencies sent to the zone to restore order became targets for annihilation. The group’s orchestrations have, indeed, in the spirit of Sun Tzu's teachings, harnessed deception's formidable power to its advantage. Recognising that Kanu, a Nigerian based in London and his group held the potential to plunge the country into anarchy if left unchecked, the Nigerian government took proactive steps.

It proscribed the group and went a step further by extraditing Kanu back to Nigeria. This was to ensure he faced charges for the chaos and destabilization he allegedly caused in the Southeastern region. In response, the group members protested and began issuing out senseless sit-at-home orders every Monday. Doom awaited whoever dared to come out on days meant for the so called sit-at home. Even school children were not spared.

The young and old met same fate. For each day sit at home order was enforced, millions of naira was lost. Trading, economic, educational activities were halted. The sick does not dare to go to the hospital. Regardless of the protests voiced by the local inhabitants, IPOB ruthlessly dealt with anyone who dared to defy their directives, ironically targeting the very individuals they professed to champion and liberate. Deception at the highest core! For the people, the snake they nurtured in their bosom has now turned around to bite them.

With Kanu now in custody and facing legal proceedings, his disciple Simon Ekpa, in faraway Finland, capitalized on his mentor's influence to achieve his own rise to prominence. Recognising the opportune moment for him to also cash out, Ekpa launched a deadlier faction called the Autopilot and afterwards the Biafra Government in Exile. He continues to give false sense of hope to liberate Biafrans while using them to swim in millions.

Same as his mentor, it has now become unmistakably clear that IPOB’s motivations are primarily driven by financial gain. Under the pretext of calling for the release of Kanu, he dishes out orders to for sit-at-home, organises fundraising frequently with the false and deceptive narrative of using the money to fund ESN. How laughable. Ekpa became more vicious. The South East is currently in a mess. Sit-at-home orders stretches for weeks with zero considerations of how it negatively affects the poor residents. Meanwhile the person issuing out the directive is doing so from the comfort of his home abroad.

IPOB's skillful use of deception as a strategic weapon of war becomes even more apparent when considering recent developments. They are now attempting to distance themselves from the autopilot faction of IPOB led by Simon Ekpa.

IPOB is doing double speak. At one instance, it wants to distance itself from Sit-at home. At the other, it states that though it started it, Simon Ekpa is not implementing it its own way. But at least, it was Kanu and IPOB that started it.

They are in agreement. While they vehemently deny that the Eastern Security Network (ESN) engages in combative and violent activities, this assertion contradicts the evidence provided by the numerous arrests made and the ongoing campaigns carried out by the military and other security agencies. As the number of arrests increases, IPOB intensifies its efforts to disassociate itself from these individuals, seemingly attempting to detach their image from these actions.

Yet, in ironic twist, they continue to advocate for the release of these very individuals they claim not to be affiliated with. The contradictory stance of denying membership while concurrently issuing press releases about the detention of their members raises questions about the veracity of their claims. It is as if they are performing a delicate balancing act, trying to maintain an image of innocence while supporting those apprehended.

Furthermore, Simon Ekpa's frequent calls for a sit-at-home protest have created a conundrum for the group. In light of the public's skepticism and widespread condemnation, they appear to be shifting blame onto Ekpa's faction, using this as an opportunity to once again deceive the public into believing that they are the virtuous side. But it is evident as daylight that in a larger context, IPOB's insistence on non-violence stands in stark contrast to past actions. During the EndSARS protests, Nnamdi Kanu's directive to his followers to burn down Lagos demonstrated their potential for incitement. The ensuing chaos and destruction following this directive were widely observed. Their claims of nonviolence also clash with their association with the Ambazonian secessionist group in Cameroon, an entity known for its aggressive tactics.

The inconsistency is further highlighted by their clashes with the Army and Police in the South East. These confrontations raise questions about their true intentions and undermine their assertions of nonviolence. In the face of these complex and often contradictory actions, IPOB's manipulation of information and narratives emerges as a deliberate and sophisticated strategy to shape public perception, rally support and maintain a facade of innocence even as evidence points to a different reality.

Another strategy being deployed by IPOB is the sustained misleading narrative that all rival factions other than its own are sponsored by the Federal Government or its agencies. This claim is distorted and contradicts the evident struggle for supremacy between Kanu and Ekpa. It is important to note that Kanu broke away from MASSOB. Ekpa is only traversing a similar path. Why then is Kanu angry and propagating falsehood for the purpose of deception? At the moment, the times are not good for the IPOB. It is in dire straits and fight of its life.

It is in a big struggle as its days are numbered. Sooner than later, like its predecessor Biafra-Republic-agitation-associations, will become extinct and go into oblivion. This is not a false prophesy. It is a matter of time. Again, like the South East elite and governments, IPOB has got a wild cat for a pet and it turned to feed on it. All is not well with Kanu and IPOB. They have both crumbled and crawling. There is fire on the mountain and IPOB is in disarray. It is struggling. Kanu is in detention. His IPOB is in shatters. Disorganised. Only vultures have surrounded him. Everything is wrong. There is leadership tussle. IPOB has broken into factions. There is Simon Ekpa autopilot. There is Chika Edozien Directorate of State (DOS). IPOB is in a big fight over its finances. Kanu’ s younger brothers want to control it. In Germany, Italy, London, France among others IPOB huge funds is at the heart of a fight.

Some accounts have been blocked. Others are objects of litigation. Kanu is worried. He is losing control. There is a bigger fight among Kanu’s legal team. No cohesion. Some feel entitled. There's contest over who is the lead counsel. Some lawyers who never had addresses or any profitable ventures have found rest in IPOB. Some who couldn't have won the simplest civil cases in a customary court are cashing out on IPOB and fleecing Kanu. Poor him.

While IPOB burns, Southeast also burns. Eastern Security Network, unknown gunmen, kidnappers, hostage takers, warlords, combatants, killers, marauders, blood suckers, violent vigilantes have taken over the region. Only a reign of terror is visible. IPOB is helpless. Simon Ekpa, from far away Finland is fueling the crisis. Violently forced sit-at-home order is enforced by those IPOB struggles to deny are not its members. In the absence of Kanu, Ekpa has tried to mimic him in voice, attitude and carriage. The kill-them-order, has accentuated.

Ekpa tries to outdo Kanu. Ironically, Kanu is in denial. He and IPOB are desperately denying that Ekpa isn't their member or working for them.

A time was when Kanu publicly called for attacks on Nigerian Soldiers and other law enforcement agents including the police. Kanu called for violent attack of fulani herdsmen. He called many Igbo politicians names. He called them Efulefu.

What has Ekpa done differently? IPOB is just intelligent by half. Now, the organisation and Kanu want Monday sit-at-home cancelled but used for Economic Empowerment Day (EED) and call/march for his unconditional release. Any difference? Whether as sit-at-home or EED or call for Kanu’s release, is it not the same? Double speak! The new plan is even more dangerous. It will bring Kanu’s faction of IPOB into confrontation with Ekpa’s.

Then blood will flow. A bird that leaves the ground and perches on the anthill is still on the ground. This is an Igbo adage. Kanu claims IPOB is not responsible for the dastardly acts in the South East. But he has not denied tasking ESN to be bloody. Even now, he tries to deploy the ESN for certain accomplishments. Initially, we were told ESN was fighting Fulani herdsmen. But is that still true? We were told it was about Buhari. Is he still there?

There is another angle we are ignoring. Kanu has never denied not to have committed most of the things he is accused of. His very dull infantile defence is that he did that in the UK, a jurisdiction not covered by Nigeria. Fact is that Kanu and his cohorts have injured the South East, Ndigbo and humanity.

History will not judge him right. He may pontificate and grandstand. He may look for scapegoats and point accusing fingers to “innocent” persons and places. He has destroyed his homeland. He has destroyed Igbo culture, value and ethical discipline. Igboland is in ruins, the type never suffered during the civil war. While IPOB thinks or believes that its tactics are superb and impregnable, they are rather self-destructive. The tactics have not only impeded peace in the South East but inhibited the resolution of the crisis and perhaps, encouraged the continued incarceration of Kanu.

At the end, Ndigbo will understand the essence of the current agitation. They will understand that it is a complete ruse. It is a manipulative deception; a heist organised by some negatively ambitious young men who, in their desire to be rich, started a variant of 419/Yahoo Yahoo. It worked for them. They got the money and attention of the vulnerable. They used intimidation, harassment and fear mongering to actualise their aim. The bone of contention among IPOB leaders is about how to keep and share the booty. The one behind the bars wants to maintain a control from detention. The money is so huge to be left in the hands of others.

Kanu is voracious for money. IPOB is rich and the funds cannot just be left like that. The agitation is no longer about Biafra or Ndigbo. It is about Money, Women and Power. It is an ego fight among select narcissists. The IPOB leaders do not want the Igbo followers to know this. It will not be good for their narrative and end goal. It will deflate the deceptive tactics. Keeping the propaganda and fake news alive is the best they can do.

The deceptions work, at least, for now. But the lies will definitely die someday. There is a short span of life for lies and deceit. Sooner than later, light and knowledge will come upon Ndigbo. May that day come. And quickly too.

Emeka Jerome, writes in from Umuahia, Abia State.
https://politicsnigeria.com/the-deceptive-tactics-of-ipob/

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Politics / Uzodinma Seals, Demolishes Hotel Belonging To PDP Campaign Chairman, Mike Ikoku by aminulive: 5:31pm On Aug 17, 2023


https://www.youtube.com/watch?v=fG1UriY7FU4

The hotel was reportedly marked for total demolition by the state government, with a 21-day notice served on its management.

Imo state Governor Hope Uzodinma has reportedly ordered the closure of properties belonging to Evangelist Mike Ikoku, Chairman of the Divine Mandate Movement Campaign Organisation, a campaign council for the Peoples Democratic Party (PDP) candidate for the November 11 governorship election in the state.

SaharaReporters gathered that early Tuesday morning, scores of armed thugs attached to the Owerri Capital Development Authority, OCDA stormed the premises housing All Seasons Hotel, Havana Cinema, Mimi Place, Boss Radio FM and Bizzibody FM and sealed property worth millions of naira.

The hotel was reportedly marked for total demolition by the state government, with a 21-day notice served on its management

The fierce-looking men, who claimed to be acting on 'orders from above' manhandled the General Manager of the hotel, leaving her with a broken arm. Also, they descended on the Chief Security Officer and some other staff members, leaving them with bruises and injuries. The lodgers were reportedly sent out.

In a two-minute video obtained by SaharaReporters, an elderly woman who identified herself as the General Manager of the hotel is sighted lamenting how her hand was allegedly twisted during the exercise.

"They twisted my hands, hit me and I fell on the floor. A staff member that came to lift me, was also beaten mercilessly for helping me.

"I didn't do anything than say 'I am the GM, please allow me to call people' and 'quietly move the barricades because it's double expenses you are incurring for us'; that is my sin. I didn't say they should not do their job. Now I'm in serious pain," she lamented. Another lady wearing a security uniform is seen in the video crying profusely.

"They hit me with an iron, I had to run into the hotel immediately," she said.

SaharaReporters also gathered that one of the staff members identified as Ugochukwu was taken away by the government team. However, Ikoku, the chairman of the hotel told SaharaReporters that the incident was politically motivated. According to him, part of his hotel was destroyed by Governor Uzodinma on Tuesday, by a team led by Frank Nzenwodo Nkem, the General Manager of Owerri Capital Development Authority (OCDA).

He explained that there are several hotels in the area, but they didn’t touch any other one apart from his. He said, "At about 8:30 am to 9 am on Tuesday, my staff called me and told me that thugs numbering about 200 with about 30 police officers invaded my hotel, All Seasons Hotel in Owerri with bulldozers.

"My staff said some people invaded the premises with caterpillars locking down some areas in my hotel. So my manager confronted them and instead of listening to her, the thugs descended on my staff, beat them up, stole their property, their telephones, claiming they were videoing them and so on and so forth.

"They entered the premises of the hotel and even molested guests. And they asked them if the place has approval. There is an approval and I have a technical drawing which was approved by the agency that is responsible for that called OCDA.

"They showed them the copies of the document and told them that this thing has approval and it was paid for according to the government law. But they didn't listen to them, they said that I am the one that is heading the opposition party in Imo State, that I am the one financing the opposition party in Imo and because of that they will go ahead and do what they want.

"So my manager begged them, they threw her on the floor, beat her up, broke her hands, and when they called me, I told them 'please, don't challenge them, stay away from them'. Allow them, whatever thing they want to do. I even drove past there. When I drove there, they were locking down the place, I drove off and left, I didn't confront them and I told them (my workers) not to confront them.

"In one area of my hotel, they wrote that the property belongs to the Bank of Industry, it's not true. The property belongs to All Seasons Hotel, it doesn't belong to any Bank of Industry. I have never heard of the Bank of Industry. That property was duly allocated to the hotel by the Ikedi Ohakim government.

"The hotel itself has been there for about two decades. The hotel was there when Achike was the governor. I opened the hotel on February 13, 2003. And the place they wrote 'remove' is a property of All Seasons Hotel, allocated to us by Ikedi Ohakim. So I wonder where the Bank of Industry came from.

"The vehicles they came with have the description of the government, Imo State Government, OCDA. They came with different vehicles of the government. The numbers are IMG and you know that's what the government number carries.

"They came there with over 10 vehicles, different vehicles carrying people and so on - both government vehicles, tinted glass vehicles. I suspected that one Chinaza Nwayeri, an aide to the governor on special duty was inside one of the vehicles because it was tinted.

"It's purely political, they feel I am the chairman of the campaign of the PDP governorship candidate. If it's really non-political, why will it be only my hotel? There are more than 10 hotels that have the same green verge that protected the area with wire mesh. So why target only my hotel and leave other places where such a thing was used? So that shows that it is purely political and purely targeted at me as a person," he added.

Meanwhile, the state government through the Director General of Imo Geographic Information Service (IGIS), Mr Chukwunyere Amaechi, in his reaction noted that OCDA acted in line with a court order.

Amarachi told journalists that the management of All Seasons sued his agency following an official notice to vacate the place. According to the statement, the partial demolition was in line with extant law and neighbourhood plan, adding that judgement was passed in favour of IGIS and communicated to the management of All Seasons Hotel Limited before the demolition took place.

He warned hotel owners and landlords within Owerri that all fenced grills on government verges will be removed, adding that generators and fuel dumps found on government verges will also be removed while all costs incurred in removing the items would be borne by the property owner.

https://saharareporters.com/2023/08/16/imo-government-seals-partially-demolishes-hotel-belonging-pdp-campaign-chairman-ikoku

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Politics / DSS Does Not Disobey Court Orders - Dr Peter Afunanya by aminulive: 9:07am On Aug 09, 2023
Recently, the media is awash with various commentaries about DSS disobedience to Court Orders. These accusations, as wrong as they are, have peaked in the Emefiele saga. It may interest the public and indeed the avowed critics of the Service to note the following incidents and timelines to show that it has religiously obeyed Court orders in respect of the case and even others.

In 2022, the Service commenced the investigation of Mr Godwin Emefiele on suspicion of Terrorism Financing, Money Laundering among others and subsequently applied to the Federal High Court, Abuja for his arrest and detention. But the Chief Judge objected to the order and clearly stated that the Service did not need an order to investigate or arrest him. Emefiele was to later obtain a restraining order issued by Justice MA Hassan of the FCT High Court against the Service. Instructively, the DSS obeyed this Order and did not arrest or detain Emefiele.

However, on 9th June, 2023, Emefiele was suspended as CBN Governor by the President. Based on new information and suspected criminal infractions, the Service, as expected by law, arrested and detained him using a Magisterial Order. On 10th July, 2023, Justice Hamza Mu’azu of the FCT High Court, while recognising that the DSS had every legal right to arrest, detain and investigate Emefiele, ordered for his release or prosecution within seven days. The Service expeditiously and expressly complied with the order and charged him for illegal possession of firearms and ammunitions being one of the criminal suspicions. The Muazu Order had, by implication, extended Emefiele’s detention by seven days with effect from 10th July, 2023 when the initial detention order had expired.

Within the same period, Justice Bello Kawu of the same FCT High Court, while dismissing reliefs sought by Peter Abang, Counsel to Emefiele on 14th July, 2023 ordered for the release or prosecution of Emefiele within 48 hours. However, the Service had complied with the seven days ultimatum issued by Justice Muazu. In obedience to rule of law, Emefiele was arraigned before Justice Nicholas Oweibo of the Federal High Court, Ikoyi, Lagos, on 25th July, 2023 for illegal possession of arms and ammunition. The Service had long issued a press statement over the incident that happened at the Court between its staff and those of Nigerian Correctional Service (NCoS) and pledged to investigate it. Though the investigation is ongoing, the preliminary findings are quite shocking considering the ignoble roles played by some public officials.

As normal with criminal investigations, security agencies re-arrest suspects when there is adequate suspicion of commission of a crime or as may be revealed by an ongoing investigation. Emefiele was re-arrested on the basis of this. Even though the re-arrest was tainted by the overzealousness of personnel of the Service and NCoS, it was nonetheless legally procedural.

Later, the Service applied for an Exparte Order at the FCT High Court presided by Justice Edward Okpe (and not Justice Mu’azu as erroneously and massively reported in the media) to detain Emefiele for 14 days. Against the established rules regarding exparte applications, a lawyer suddenly appeared in the Court for Emefiele. While the Judge did not outrightly reject the DSS request, he struck out the motion upon its withdrawal by the Service counsel. But this is not without his guidance. Earlier, the Judge had drawn the attention of the Counsels to Section 293 of Administration of Criminal Justice Act (ACJA) which also recognises the Magistrate Court as a competent Court that can first be approached for an order for custody of a suspect under investigation. In other words, the Service, having taken the hint of the Court, took the right steps. What transpired at the Court was, thereafter, variously misrepresented by some mischief makers. Part of the disinformation is to the effect that the Court “struck out the application and stated that it was an abuse of judicial process”. That was not what the Court said. What Justice Okpe said was “the Applicant having withdrawn the application, same is hereby struck out”. That was all. The Court records are there. But purveyors of fake news distorted the message to suit their intent; just to make the Service look bad – a sort of giving the dog a bad name in order to hang it.

Many had gone to town with stories of DSS fragrant disobedience to Court Orders especially in view of the last episodes at the High Courts in Lagos and Abuja. With what played out at the Court on 27th July 2023 under Justice Okpe, the Service immediately applied and obtained a detention Order from a Magistrate Court. So, Emefiele is legally detained. For reasons that the Emefiele case is subjudice, the Service will restrain from making further comments on the subject matter.

For either lack of knowledge or deliberate act to ignore the truth, there has been sustained bashing of the Service and its leadership in the media and public spaces. It is ironical that the same people who condemn media trial are daily taking the Service through the same. The actual points are however, not lost on the Service. It is aware of the depth of the orchestrations and even deeper plot to incite the judiciary against it.

Targeting DSS DG, YM Bichi, for insidious media attacks is needless. Any DGSS, even if brought from heaven among the angels, will discharge the DSS mandate. There isn’t a time in our national sojourn for greatness that key organs of government will cease to exist or not needed. The DSS, like the CIA, FBI among others, is a major and positive instrument of State administration and management. It is essential for statecraft, governance, stability and public order. Scraping it as being canvassed by the uninformed is unreasonable. It is indeed obvious the DSS is misunderstood. It is obvious there is a mob action against the Service. Allow the DSS be. Allow Bichi, a fine gentleman officer, be. Support DSS. Support Nigeria. As in the national anthem, Arise, O Compatriots.

Some critics have made varied insinuations including abusing the Service, its leadership and completely distorting the significant historical role of the Service in nation building. Others have said it is wobbling and of no relevance. Laughable. The DSS is not tottering. It is standing and firmly too. Even the worst of its critics knows that the Service has played (and still plays) stabilising roles for the nation. Its loyalty and patriotism are incomparable. The Service is a stabilising force for the country’s democracy. Same for the indivisibility and indissolubility of Nigeria’s sovereignty. Only a collaborative support from stakeholders will strengthen this. The Service does not claim to know it all; a reason it allows for constructive criticism and makes out time to explain itself in line with transparency and democratic accountability.

Whether on Emefiele, Bawa or Kanu, the Service has obeyed judicial orders and handled the cases procedurally and in accordance with the rule of law. Critics are encouraged to be a bit more discerning and up their research capabilities. Doing so will reveal that the Service obeys orders. The Court of Appeal judgement on Kanu is recommended for detailed study. Maybe, we can decipher the difference between Discharged and Acquitted and what the use of either or both mean in the final order of a Judge. The DSS is an ardent respecter of the law. Anyone may argue this but it is true. It is in this regard that it has applied for either a stay or notice of appeal on some of the matters. One who does not obey the laws will not resort to legal procedures like the DSS has done.

Let those seeking justice not intimidate the Judges or derail law enforcement efforts. Judges deliver justice without fear or favour and should be allowed to discharge their duties honourably. For the umpteenth time, the Service reiterates its unequivocal stance on rule of law and respect for the judiciary. This position remains unchanging despite the futile attempts to paint it otherwise
.

https://politicsnigeria.com/dss-and-accusations-of-disobedience-to-court-orders-setting-the-records-right-by-dr-peter-afunanya/

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Business / ASR Africa Donates 25 Operational Vehicles To NDLEA by aminulive: 8:44am On Aug 09, 2023
The Abdul Samad Rabiu Africa Initiative (ASR Africa) has donated 25 state-of-the-art operational vehicles to the National Drug Law Enforcement Agency (NDLEA) to boost its operations across Nigeria. The donation to the agency is drawn from the ASR Africa Security Sector Support Grant, which is a security intervention initiative targeted at providing critical support to the agency to boost its operational reach and capacity.
ASR Africa had announced the Security Sector Support grant to Nigeria’s Armed Forces and other security agencies as its support for security operations across the country.

Beneficiaries of the grant include the National Drug Law Enforcement Agency (NDLEA), The Nigerian Navy, The Nigerian Air Force, The Nigerian Army, the Nigeria Security and Civil Defence Corps (NSCDC), Customs, Immigration, Department of Secret Services (DSS), and the Nigerian Correctional Service.

Presenting documents and keys of the vehicles to Brig. Gen. Mohammed Buba Marwa (Retd), Chairman/Chief Executive Officer of the NDLEA, Dr. Ubon Udoh, Managing Director, ASR Africa stated that Abdul Samad Rabiu, Founder and Chairman of BUA Group is very passionate about giving back to society and has created the initiative to uplift and restore the dignity and lives of Africans.

Dr. Ubon thanked the NDLEA leadership for its support in ensuring the speedy realization of the project and noted that the operational vehicles would assist the NDLEA in fulfillment of its mandate in the war against drug-related crimes in the country.

According to Dr. Ubon Udoh, “We are very pleased to be here. I want to start by appreciating you and your team for all the collaborations to make this day a reality. This is a testament to your tenacity and will to ensure this handover happens within a short time.

“I want to thank you all for the work you do. This agency has made a very giant stride under your leadership and this is a testament to the quality of your team. On behalf of Abdul Samad Rabiu, we are presenting you with 25 state-of-the-art operational vehicles to aid the work you do across the country and I can assure you on his behalf that this is just the beginning of better things to come”.

On his part, Brig. Gen. Mohammed Buba Marwa (Retd), Chairman/Chief Executive Officer of the NDLEA, appreciated the Chairman of ASR Africa for the support and redeeming the pledge. He also enumerated the numerous achievements of the agency and promised full utilization of the vehicles donated by ASR Africa.



https://politicsnigeria.com/86192-2/

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Business / We Are Not Involved In Any Illicit Forex Dealings - BUA by aminulive: 11:49am On Jul 31, 2023
Our attention has been brought to various false allegations published against BUA Group on some online platforms. BUA Group categorically refutes the baseless allegations of illicit forex dealings with the Central Bank of Nigeria (CBN) from January to March 2016.

These accusations, propagated online by Mr. Desmond Ike-Chima and Mr. Oliver Fejiro of ENigeria News and Secret Reporters respectively, are false and entirely unfounded. These individuals, known for their involvement in cyberstalking, blackmail, and defamation, have faced previous arrests (see news report attached) for such misconduct, casting a dark shadow over their credibility.

We emphatically state that neither BUA Group nor the Chairman of the Group, Abdul Samad Rabiu, received any of the alleged foreign exchange allocations from the CBN during the indicated period. This fact is corroborated by the CBN and the respective banks.

Furthermore, in compliance with CBN's regulations, all forex transactions by banks during 2016, were published publicly in national newspapers (some copies attached). These records, still accessible today, provide unequivocal evidence that counters these false allegations. We, therefore, challenge Mr. Ike-Chima, Mr. Fejiro, and their sponsors to validate their claims with concrete evidence.

We urge the public and our stakeholders to disregard these deceptive publications in light of these facts. We have engaged the necessary law enforcement agencies and initiated legal action against the perpetrators under the Cybercrime Prohibition Prevention Act, Laws of the Federation, 2015.

https://politicsnigeria.com/just-in-we-are-not-involved-in-any-illicit-forex-dealings-bua-full-statement/

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Politics / Imo: SDP Candidate Decamps To PDP, Declares Support For Samdaddy Anyanwu by aminulive: 9:54pm On Jul 28, 2023
The Imo House of Assembly candidate of the Social Democratic Party (SDP) in the 2023 election, Engr Onyiriuka Stanley Chike and over 1,000 of his supporters have dumped the party in Ohaji Egbema Local Government Area.

The politician has pitched his tent with the Peoples Democratic Party (PDP), declaring support for the governorship flagbearer, Senator Samuel Anyanwu, ahead of the November 11 polls.

Onyiriuka, popularly known as “Chyko”, who has a large following among the electorate in his constituency, gave his opponents a hot chase in the March general election.

In a statement on Tuesday, the politician explained that he and his followers left the SDP to join hands with Imo people to rescue the state from “insecurity, bad governance, greed and harsh policies”.

Onyiriuka said what’s needed is the exit of the All Progressives Congress (APC) government and the enthronement of people-oriented administration, which he believes Anyanwu would offer.

He enjoined anyone working against the liberation of Imo to have a change of heart, insisting the gubernatorial poll “would serve as a restoration season to stop killing of innocent youths and burning of houses for no reason.”

Onyiriuka, who described the APC administration as “very insensitive”, swore to continue to mobilise well-meaning Nigerians in the three zones against the ruling party.
https://dailypost.ng/2023/07/25/imo-guber-sdp-candidate-onyiriuka-defects-to-pdp-backs-anyanwu/

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