Politics › Why The Nigerian Coast Guard Bill Needs To Be Permanently Rested - Musa Ilallah by AnonPoet(op): 4:42pm On Nov 13, 2024 |
Let's begin this conversation by recalling that a bill to establish the Nigerian Coast Guard which has scaled second reading in the Nigerian Senate and sponsored as a private member bill by Senator Wasiu Eshilokun (APC- Lagos), recently led the debate at the Senate's plenary on the general principles of the bill.
Leading the debate, Senator Eshilokun said the bill sought to establish the Nigerian Coast Guard to be charged with the responsibility of securing maritime zones within Nigeria.
First, it is a breach of due process. The Bill seeks to establish a Coast Guard as a military service and a branch of the Armed Forces of Nigeria. You cannot establish a branch of the Armed Forces through a private member’s Bill of the National Assembly. The expansion of the Armed Forces can and should be an executive function, with the consideration and approval of the Federal Executive Council. It is beyond the scope and capacity of an individual member of the National Assembly. Second, it is a gross duplication of existing institutions and functions: The Coast Guard is a clear duplication of the functions of the Nigerian Navy as stated in Armed Forces Cap 20, which is an amplification of S217 of the Nigerian Constitution, creating the Armed Forces and outlining what their responsibilities would be. The Coast Guard seeks to duplicate the Nigerian Navy, creating a parallel agency that will dissipate energy and resources. Coast Guard promoters argue that unlike the Nigerian Navy, which is a ‘fighting force’, the Coast Guard is meant to be a civilian law enforcement agency, implementing maritime regulations and protecting natural resources and inland waters. The fact is that the functions being proposed here are already being fully carried out between the Nigerian Navy, NIWA, NIMASA and the Marine Police. Even the Nigerian Customs Service has a Maritime Division. An additional agency will do nothing to improve the situation; if anything, it will increase dysfunction. The Establishment Act of the Nigerian Navy already fully takes care of all the functions being claimed by the promoters of the Coast Guard. It will also duplicate and conflict with the functions of other players in the maritime sector – the Bill wants the Coast Guard to be responsible for the training of seafarers, which by the Merchant Shipping Act and NIMASA Act are clearly the job of NIMASA. The Bill also wants it to be involved in hydrography, despite the fact that the Navy is in charge of hydrography and that there was a recent presidential approval for the conversion of the Nigerian Navy Hydrographic Office int the National Hydrographic Agency, and the designation of the Nigerian Navy Hydrographer as the Hydrographer of the Federation. The National Inland Waterways Authority (NIWA) is tasked with the mandate of enforcing laws and regulations in Nigeria’s inland waters, which further renders a Coast Guard irrelevant. At this point when the Federal Government is trying to implement the spirit of the Oronsaye reforms, a Coast Guard is an unnecessary and wasteful venture. Third, it is a recipe for chaos and confusion. A Nigerian Coast Guard will compound existing challenges being experienced in the administration of Nigeria’s maritime environment. It will complicate the coordination, heighten unnecessary competition and undermine cohesion, leading to anarchy. The implication of this will be that bad actors in Nigeria’s maritime space will gain an advantage, with possible outcomes such as Nigeria being re-listed on the Maritime Piracy Index, which it exited in 2022 thanks to the efforts of the Nigerian Navy and other stakeholders. The Bill being pushed wants the Coast Guard to be headed by a serving Naval Officer, without considering what this would mean for the standard military chain of command. Fourth, it will inflict a significant additional fiscal burden on Nigeria’s resources. The promoters have not yet provided any cost estimates as to the full fiscal implications – establishment and operations – of yet another maritime institution. This is at a time when Nigeria is struggling to control public spending, and optimise the provision of resources to existing institutions. Instead of a new agency, with new spending to ensure take-off, the country’s scarce resources should be invested in strengthening and bolstering the functions and capacity of the Nigerian Navy and other existing stakeholders like NIWA, NIMASA and the Marine Police. Promoters of the Coast Guard say that a Coast Guard is ‘international best practice’, because the United States and United Kingdom have Coast Guards separate from the Navy. This ‘best practice’ claim is not correct. The International Maritime Organization (IMO) does not dictate to countries how to structure the administration and operations of their maritime environment. There are many countries in the world that do not combine a Navy and a Coast Guard. Also, in the case of the US, there are peculiar domestic legal contexts (like the Posse Comitatus Act of 1878) that necessitate the US having a separate Coast Guard for domestic functions – a situation that is very different from Nigeria’s own. As for the UK, the HM Coastguard is purely an unarmed emergency rescue service, staffed primarily by volunteers – nine of every ten members of the HM Coastguard are volunteers. Fifth, it is a worrying case of jumping the gun. Promoters of the Coast Guard have gone ahead to establish a website that suggests that the Guard is already in legitimate operation. This posturing of false legitimacy even when a public hearing has yet to hold suggests a desperation that is out of place, and that should provoke deep thinking from all and sundry. The Coast Guard idea is one that needs to die once and for all. It is an idea that pops up every couple of years, and always falls apart upon scrutiny. It has now become a recurring waste of time, attention and the public resources used in resurrecting it every couple of years. Nigeria does not need a Coast Guard Service, and hopefully this attempt will be the last wild goose chase in this regard. The proposed Coast Guard and its recurring Bill should be allowed to rest in peace. https://guardian.ng/news/why-the-nigerian-coast-guard-bill-needs-to-be-permanently-rested/
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Sports › Patrick Pascal Warns Of Backlash If Lookman Misses Out On POTY Award by AnonPoet(op): 4:27pm On Nov 12, 2024 |
“The whole world will finish CAF” – Ex-Antwerp man warns of backlash if Lookman misses out on POTY award
Former Royal Antwerp star Patrick Pascal has boldly declared that Ademola Lookman must win this year’s CAF Player of the Year award or risk triggering widespread backlash, Soccernet.ng reports.
Pascal, who is currently the Nigerian national team coordinator, believes Lookman’s impressive performances for both club and country make him the undisputed frontrunner for the prestigious honour.
The Atalanta forward has been sensational in recent months, impressing fans and critics alike with his consistency and skill.
Earlier this year, Lookman played a pivotal role for Nigeria at the Africa Cup of Nations (AFCON), leading the Super Eagles to the final with three goals and an assist.
His achievements on the club front have been equally excellent; he delivered a historic hat-trick against Bayer Leverkusen in the Europa League final, securing Atalanta’s first-ever European title.
Reflecting on Lookman’s season, Pascal, who also chairs the Bauchi State Football Association, stated unequivocally that Lookman should be CAF’s Player of the Year.
“If Ademola Lookman doesn’t win this CAF award, journalists will finish CAF. The whole world will finish them,” he told Brila.
“What are you going to tell people? So Ademola Lookman stands a good chance to win.”
This season, Nigerian international Lookman has continued his prolific form, registering eight goals and five assists in 14 appearances for Atalanta.
The former Fulham and Everton star is competing against compatriot William Troost-Ekong and eight others for the top individual prize.
CAF is set to announce the winner at its annual awards ceremony on December 16 in Marrakesh, Morocco.
Super Eagles and Galatasaray star Victor Osimhen is the reigning African Footballer of the Year. https://soccernet.ng/2024/11/the-whole-world-will-finish-caf-ex-antwerp-man-warns-of-backlash-if-lookman-misses-out-on-poty-award.html
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Business › 5 Ways ALAT Xplore App Builds Financial Skills In Nigerian Teens by AnonPoet(op): 2:22pm On Nov 05, 2024 |
The ALAT Xplore app, created by Wema Bank, stands as Nigeria’s first licensed online banking app for teenagers aged 13 to 17. Designed specifically to address the unique needs of young users, this mobile banking app for teens provides Nigerian teens with a secure and structured way to build financial independence. With its comprehensive features, ALAT Xplore serves as a banking app for teens that helps young users develop critical money management skills, while also empowering parents with essential monitoring tools.
Here’s how ALAT Xplore stands out as a top choice for online banking for 15-year-olds and 16-year-olds and equips them for real-world financial responsibility.
1. Hands-On Budgeting Experience
Budgeting is a fundamental skill in personal finance, and ALAT Xplore introduces it in an engaging, practical way for teens. The app allows users to track their spending, see where their money goes, and understand their financial habits. For those seeking online banking for 14-year-olds, this app for teens provides a straightforward method to learn budgeting by setting realistic spending limits. This experience empowers teens to make smarter financial decisions and develop skills essential for lifelong responsibility.
2. Goal-Oriented Savings Features for Under-18s Developing a habit of saving is essential, and ALAT Xplore’s savings for under-18s feature allows teens to set personal financial goals. This is ideal for bank accounts for 15-year-olds or any young person wanting to work towards a specific target, whether it’s for a gadget, a hobby, or educational needs. This online bank account for teens enables them to monitor their savings progress and teaches the value of delayed gratification—an essential principle in personal finance.
3. Spending with the Best Debit Card for Teens ALAT Xplore issues a dedicated debit card for each teen, giving them an independent experience in managing real-world expenses. Unlike debit cards linked to a parent’s account, ALAT Xplore’s best debit card for a teenager allows teens to make their own purchases, whether for necessities or discretionary items. For those looking for online banking for 16-year-olds and younger teens, this feature is especially valuable, as it provides experience in handling money directly while tracking transactions in the app to reinforce budgeting.
4. Money Management with Parental Guidance ALAT Xplore offers parents full oversight, balancing teen independence with essential guidance. Through the parent’s ALAT app, guardians can monitor transactions, set spending caps, and review their teen’s financial choices. This apps for teenagers approach makes ALAT Xplore ideal for families looking for structured online banking for teens. This apps for teens framework provides opportunities for parents and teens to discuss spending, helping young users understand the impact of their choices and build wise money habits.
5. Interactive “Request Money” Feature The “Request Money” feature on ALAT Xplore is more than just a convenience; it’s an educational tool that encourages transparency and communication between teens and parents. Teens can send money requests directly through the app, allowing them to explain their needs. This tool fosters a healthy dialogue about finances and gives parents insight into their teen’s spending priorities, making it one of the most practical banking apps for teens in the market.
ALAT Xplore is reshaping online banking for teenagers, offering a safe and interactive platform for financial education. With essential tools like budgeting, goal-oriented savings, a dedicated debit card, and parental guidance, ALAT Xplore provides the best blend of security and independence. For families seeking a teens account that encourages responsible financial habits, ALAT Xplore is a top choice among banking apps, setting Nigerian youth on a path toward lifelong financial literacy and independence. Sponsored Post
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Celebrities › Re: Why I Will Never Offer Free Services To Abia State – Actress, Ngozi Nwosu by AnonPoet(op): 7:03am On Oct 31, 2024 |
In 2013, she needed medical help and the Lagos starts government through governor Fashola Donated 4.5 million to her All thanks to Lagos State government who today gave her N4.5million to make up the N6million she needed.
Through the help of well meaning Nigerians, Ngozi had been able to raise N2m.
It's all in God's hands now, and us too cos she still needs our prayers for a successful treatment. https://www.nairaland.com/1147484/lagos-donates-n4.5m-ngozi-nwosu
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Celebrities › Why I Will Never Offer Free Services To Abia State – Actress, Ngozi Nwosu by AnonPoet(op): 7:01am On Oct 31, 2024 |
Veteran actress Ngozi Nwosu has stated that she will never offer free services to her home state, Abia State, and she gave her reason for arriving at this decision.
Nwosu cited a lack of support from her state during her health struggles as her reason.
In 2012, the Fuji House of Commotion star faced a serious health crisis when she suffered a kidney-related illness, and according to her, the Abia state government did not lend a helping hand.
In a recent interview with Nollywood on Radio, the 61-year-old actress shared her disappointment and frustration with the situation.
She stated that from now on, any future services she provides to the state will come with a hefty price tag.
“I have personally said that there is nothing my state will call me for that I would go for free. They would pay through their nose for me to be there, I am from Arochukwu local government, Abia state,” she said.
According to her, a woman who was a huge fan of her work, alerted the Lagos government and that was how she got help.
“It was the fame I had through the roles I played in series then that helped me when I needed help.
“The person who called the Lagos state government did it because I was her favorite actor. So when she heard I was down she called the government to save my live because she loves me,” she added https://m.lindaikejisblog.com/2024/10/why-ill-never-offer-free-services-to-my-state-actress-ngozi-nwosu.html
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Politics › Obasanjo's Issue With Tinubu Has Nothing To Do With Panning But Envy - Afenifere by AnonPoet(op): 4:22pm On Oct 26, 2024 |
Obasanjo’s Issue With Tinubu Has Nothing To Do With Planning And Everything To Do With Envy – Afenifere Like many Nigerians, we of the CONSCIENCE OF YORUBA NATION GROUP an affiliate group of Afenifere woke up to watch the interview of former President Olusegun Obasanjo granted to News-Central Television, of which he made several fallacious claims, chief of which is that the President, Asiwaju Bola Ahmed Tinubu, entered office without a plan, and makes pronouncements on issues he has not studied.
Nothing could be further from the truth: President Tinubu had a plan and shared that plan with Nigerians before Nigerians convincingly elected him as their President, and rejected the candidate sponsored by General Obasanjo.
And the Tinubu strategy was so well disseminated during the 2023 election campaign season that even right now, we can repeat them by rote, and they were as follows:
End subsidy Float the Naira Devolve power from the Federal to the State and Local Governments, and Expand education via student loans.
*Others can be found in his manifesto, Renewed Hope, which was widely circulated during the campaigns*
Unlike any other President in this republic, including General Olusegun Obasanjo, President Tinubu hit the ground running with his plan of which he implemented subsidy removal on Day One, and floated the Naira within weeks while achieving Local Government autonomy via a judicial victory at the Supreme Court on Thursday, July 11, 2024, even as he introduced student loans five days later on Wednesday, July 17, 2024.
It is not that the President had the gumption and courage to implement his plans where others, most notably the Third Term-seeking Obasanjo, failed, the more noteworthy thing is that his reforms are working.
For example, Nigeria’s fuel imports have crashed, and we are now consuming less than 50% of what we allegedly consumed before President Tinubu implemented fuel subsidy removal. Why? Because due to price equalisation with neighbouring countries, the smuggling of cheap Nigerian fuel to other countries in the West African subregion has ended.
Furthermore, due to the floating of the Naira, we are now exporting more than we are importing. Specifically, Nigeria set a record of $4.58 billion in non-oil exports in 2023, which was not just a record but a 28.04% increase on the previous year.
We are set to break that record in 2024, as the Nigerian Bureau of Statistics revealed that by the half-year 2024, Nigeria had made $2.7 Billion in non-oil exports. This is already an H1 record.
Nigeria is now at the point where Vietnam was, where devaluation has made exports more attractive and cost-effective, leading to the record ₦14.07 trillion trade surplus we achieved by half of 2024.
To give some perspective, in 2016, Nigeria’s total non-oil exports totalled $1.4 billion. Now, we are making that in just one quarter.
Nigeria also had a trade deficit in the first year of Buhari (2016), with total imports at ₦8.527 trillion and total exports at ₦8.817 trillion, leaving a deficit of ₦290.1 billion.
But in the first and second years of the Tinubu administration, we are witnessing record-breaking trade surpluses.
Additionally, on Thursday, March 28, 2024, the Nigerian Stock Exchange crossed 104,562.06 All Shares Index, a 39.84% increase year-to-date, making it the second-best performing exchange in Africa.
And only yesterday, the Governor of the Central Bank of Nigeria revealed that our reserves are now above $40 billion. This is an administration that inherited a foreign reserve that was so bad that JP Morgan said it was actually $3.7 billion.
Yet, somebody who could not achieve these, because he was distracted with how to perpetuate himself in power and engaging in a Rofo-Rofo fight with his deputy has the gall to condemn a performer?
Nigerians need to understand where General Olusegun Obasanjo is coming from.
This is a man with the mother of all egos. He wants to be the only successful President from Southern Nigeria. That is what he wants as his legacy. And to achieve that, he must undermine every other Southerner who emerges, despite his best efforts to stop them, as President of Nigeria.
It is for that reason that he undermined former President Goodluck Jonathan by lying that that good man was maintaining a killer squad of former Abacha hitmen to target political enemies.
Today, his poisonous darts have been aimed at President Tinubu, who he feels has already outshined and out-achieved him in just one year. Nigerians should see it for what it is. Sour grapes and envy!
Kole Omololu Convener Conscience of Yoruba Nation Group Spokesman of Afenifere https://newsdirect.ng/obasanjos-issue-with-tinubu-has-nothing-to-do-with-planning-and-everything-to-do-with-envy-afenifere/
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Health › Hippolite Amadi's Dedication To Babies Exploited By Nigerian Hospital Leadership by AnonPoet(op): 4:44pm On Oct 23, 2024 |
Professor Hippolite Amadi's Dedication to Premature Babies Exploited by Nigerian Hospital Leadership This may sound like another story of a Nigerian in the diaspora who trusted friends or relatives to manage his hard-earned investments in Nigeria, only to discover he had been swindled.
However, this story goes beyond such a familiar scenario. Professor Hippolite Amadi, an internationally recognized expert in neonatal care, has been left on the brink of financial collapse after his efforts to help save premature babies in Nigeria were callously exploited by the Chief Medical Director of a federal medical center in Owerri.
Professor Amadi, who has dedicated his life to developing life-saving technology for premature infants, took out a loan of £98,000 (about N82.3 million) to equip a neonatal care unit at the Federal Medical Centre Owerri (FMCO).
Despite completing the project in May 2022 and the unit being operational for over 30 months, the hospital has yet to pay him a single kobo for his work, leaving him in debt of nearly £175,000.
Professor Hippolite Amadi’s passion for neonatal care stems from his engineering background.
Educated in Nigeria, Amadi had long recognized the lack of suitable incubators and equipment designed for Nigeria’s climate, which led to the high mortality rate among premature babies. His dream was to create cost-effective and sustainable neonatal solutions tailored to Nigeria’s needs.
Despite early resistance from local hospital administrators, who favored importing expensive foreign equipment, Amadi persevered.
After gaining global recognition and expertise through his work at Imperial College London, he established the Neonatal Concerns for Africa Organisation and worked tirelessly to reduce neonatal mortality across Nigeria and other developing countries.
Professor Amadi’s goodwill and dedication to saving lives were manipulated by Dr. Kingsley Achigbu, the Chief Medical Director of FMCO.
Despite having successfully collaborated with previous medical directors, Amadi faced deceit when Dr. Achigbu persuaded him to refurbish and expand the hospital’s Special Care Unit for premature babies.
Amadi designed and directed the construction of a new neonatal unit at FMCO, securing funds to equip it through a personal loan.
Upon completion, Dr. Achigbu assured him that payment would be made within four weeks. However, after the unit’s unveiling and CNN’s coverage of the project, FMCO failed to honor its financial obligations.
Despite numerous petitions to the Federal Ministry of Health and other government bodies, Professor Amadi’s appeals for payment have been ignored. Attempts to recoup funds have been met with silence or token efforts, leaving him facing mounting debts while the neonatal unit, which he funded, continues to operate without compensation.
Professor Amadi’s case raises alarming questions about how Nigeria treats its diaspora professionals who invest in the country’s development. He has been forced to endure extreme financial hardship, while the hospital enjoys the benefits of his work.
As Professor Amadi struggles to repay a loan taken to help save Nigerian babies, the question remains: Is this how Nigeria rewards its patriots? The international community and concerned Nigerians must demand that FMCO and the Federal Ministry of Health rectify this injustice and pay the debts owed to Professor Amadi for his selfless service to the nation. https://www.legit.ng/nigeria/1620937-professor-hippolite-amadis-dedication-premature-babies-exploited-by-nigerian-hospital-leadership/
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Travel › Re: Pictures Of The Ijebu-Ode Interchange In Ogun State by AnonPoet: 8:55am On Oct 22, 2024 |
Mr Lanre, are you sure this is Ogun state? I saw somewhere that it is the Onitsha-Asaba connecting road
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Politics › Flawed Justifications: Why Falana’s Defense Of The EFCC Contradicts Itself by AnonPoet(op): 4:52pm On Oct 18, 2024 |
By Angela Ochioma
Femi Falana’s defense of the Economic and Financial Crimes Commission (EFCC) in response to Dr. Olisa Agbakoba’s claim about its legality raises several contradictions and shortcomings. While Falana attempts to paint the EFCC as constitutionally valid, his position undermines key principles of federalism and fails to address the agency's perceived overreach. The nature of Falana’s argument also reveals selective use of judicial rulings that gloss over essential nuances, weakening his stance on the EFCC’s legality.
One of the key issues with Falana’s argument is his dismissal of federalism concerns. Federalism is a core component of the Nigerian Constitution, which recognizes the autonomy of individual states in governance. Dr. Agbakoba’s critique of the EFCC hinges on this principle, arguing that the centralization of anti-corruption enforcement violates state sovereignty. Falana, however, overlooks this critical point. He defends the EFCC by asserting that the agency is supported by constitutional provisions, such as Section 15(5) of the 1999 Constitution, which mandates the state to abolish corrupt practices. But this broad interpretation of the law runs the risk of empowering the EFCC to interfere with state governments, eroding the delicate balance of power between the federal and state levels.
Falana's argument also suffers from internal inconsistency. On the one hand, he advocates for the authority of the EFCC to operate nationwide and prosecute corruption at all levels of government. On the other, he professes support for federalism, which emphasizes decentralization and the autonomy of states. This contradictory stance casts doubt on his commitment to the principle of federalism and raises concerns about his selective application of constitutional ideals. The EFCC, while vital in combatting corruption, operates in a manner that raises legitimate questions about federal overreach. Falana's failure to fully acknowledge these concerns undermines his broader argument.
Another issue with Falana’s defense is his selective citation of Supreme Court rulings to bolster the EFCC’s legality. He references past cases like **Attorney-General of Ondo State v Attorney-General of the Federation**, where the Supreme Court upheld the constitutional validity of anti-corruption bodies like the ICPC. However, this precedent does not directly translate to the EFCC’s operations, as the ICPC’s mandate and scope differ from the EFCC’s broader and more intrusive powers. The absence of a nuanced discussion on how these rulings apply to the unique challenges posed by the EFCC weakens Falana’s argument. Instead of addressing the specific nature of the EFCC’s overreach into state affairs, Falana uses broad rulings to justify its existence, ignoring the complexities involved in balancing federal powers with state sovereignty.
Moreover, Falana's failure to substantiate his claim that no court has ever declared the EFCC unconstitutional highlights a gap in his defense. While it may be true that no legal ruling has annulled the EFCC Act, this does not automatically legitimize the agency's actions, especially in cases where states have pushed back against federal interference. Falana overlooks the fact that several state governments and public officials have raised concerns about the EFCC’s authority, particularly regarding its involvement in state financial matters. The ongoing debate about the legality of the EFCC underscores the need for clarity, and Falana’s simplistic dismissal of these concerns does not help to resolve the issue.
Finally, Falana’s call for the National Assembly to amend the Constitution and formally entrench the EFCC and ICPC only further complicates his position. While this move may provide legal backing for the agencies’ existence, it does not address the fundamental issues of federal overreach and accountability. Instead of offering a comprehensive solution, Falana’s proposal risks entrenching an imbalance of power between the federal government and the states, potentially exacerbating tensions between different levels of governance.
In conclusion, Femi Falana’s defense of the EFCC is riddled with contradictions and selective reasoning. His argument overlooks the legitimate concerns of federalism, fails to engage with the nuances of judicial rulings, and sidesteps the ongoing debate about the agency's role in state affairs. While the fight against corruption is undoubtedly important, it must not come at the expense of state sovereignty or constitutional balance. Falana’s inconsistent defense does little to resolve these tensions and raises more questions than it answers about the future of anti-corruption efforts in Nigeria.
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Politics › EFCC Is An Unconstitutional Organisation - Agbakoba (video) by AnonPoet(op): 12:56pm On Oct 18, 2024 |
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Politics › EFCC Vs The Constitution: Waiting For Supreme Court by AnonPoet(op): 7:30am On Oct 17, 2024 |
In a matter of days, exactly on October 22, ceteris paribus, the Supreme Court will commence hearing on a case filed by 16 state governments challenging the constitutionality of the laws establishing the Economic and Financial Crimes Commission (EFCC) and two other anti-graft laws. Of the 16, the Supreme Court granted leave for consolidation with respect to two states – Ogun and Nasarawa – whose cases centre mainly around the Nigerian Financial Intelligence Unit (NFIU) guidelines.
The EFCC Act has been operational since 2004, twenty years ago. The commission was established in 2003 in swift response to the pressure from the Financial Action Task Force (FATF) on money laundering, which then categorically named Nigeria amongst the 23 countries that were stalling efforts by the international community in its efforts to combat money laundering, both local and trans-national.
At various forums these past two decades, some lawyers have raised eyebrow on how the EFCC Bill was passed into law, with some noting that its hurried transition from a Bill to an Act short-circuited a critical provision of the 1999 Nigerian Constitution (as amended).
EFCC was established by an Act of the National Assembly by the administration of President Olusegun Obasanjo. It was intended to primarily focus on economic and financial crimes in both the public and private sector. The commission was then seen as a masterstroke to tame the bogey of corruption in the country then ranked as one of the most corrupt countries in the world.
The then Vice President Atiku Abubakar it was who provided the commission the funds to get off the ground and start running. He still references this gesture till this day. In plain language, EFCC was established but was not given the necessary funds to commence operations. All that is history now. However, a good two decades after it became operational, the commission has been largely perceived as a persecution, rather than prosecutorial, agency in the hand of any ruling president.
Proponents of this school of thought point to the ranking of Nigeria in the global corruption index, pre and post EFCC establishment. Nothing really has changed. Nigeria is still highly ranked as one of the most corrupt nations of the world, currently placing a 145 out of 180 countries ranked in the latest index.
Some even argue that rather than fight and tame corruption, the EFCC has been protecting openly corrupt persons by refusing to prosecute such persons, usually politically exposed persons. They argue that EFCC only show uncommon zeal to prosecute persons who are political opponents of any incumbent president or those who hold dissenting views from those of the President. For this, they tag the EFCC a persecution agency.
But this is not the grouse of the state governments now before the Supreme Court. They are questioning the legitimacy of the EFCC as a product of a Federal law, an Act of the National Assembly, with powers over the Federating units (the states). Already, a seven-man panel led by Justice Uwani Abba-Aji, has fixed October 22 for hearing of the suit after the states were joined as co-plaintiffs, and leave granted for consolidation of the case in the suit originally filed by the Kogi State Government through its Attorney General (AG).
The states that joined in the suit marked: SC/CV/178/2023 include Ondo, Edo, Oyo, Kebbi, Katsina, Sokoto, Jigawa, Enugu, Benue, Anambra, Plateau, Cross-River, Niger. Ogun and Nasarawa are challenging the Nigerian Financial Intelligence Unit (NFIU) Financial Guidelines. A holistic glance at the states (Plaintiffs) showed a wide spread in diversity, cutting across different political parties and across the six geopolitical zones. This shows that this matter is not political, neither is it steeped in the murky pool of partisan politics. It’s strictly about legality, constitutionality and propriety of the Act setting up the commission.
Their argument is that the enactment of the EFCC Act negated the powers and rights of the states as federating units within a Federation. They contend that as states, they have functional Houses of Assembly but the input of these Houses of Assembly was not sought in the course of the enactment of the EFCC Act as required by the 1999 Constitution (as amended).
On this, they have approached the Supreme Court to seek clarification on why the opinion of the State Assemblies was not sought as enshrined in the Constitution. The state governments cite the case of Dr. Joseph Nwobike Vs Federal Republic of Nigeria, wherein the Supreme Court held that it was a UN Convention Against Corruption (UNCAC) that the National Assembly turned into the EFCC Establishment Act and that in enacting this law in 2003, the provisions of Section 12 of the 1999 Constitution, as amended, were arbitrarily discounted by the Federal lawmakers.
The state governments argued that in transforming a Convention into a Nigerian law, the provisions of Section 12 must be complied with. The state governments assert that the provisions of the Constitution demand that a majority of the states’ Houses of Assembly shall agree to bring the UN Convention into Nigeria before passing the EFCC Act or any other such law. They maintain that this critical requirement that underscores the sovereignty of Nigeria as a self-governing entity was never met neither was the constitutional procedure followed.
Here is what the Constitution says. Section 12, subsection (2) of the 1999 Constitution (as amended) states that “the National Assembly may make laws for the Federation or any part thereof with respect to matters not included in the Exclusive Legislative List for the purpose of implementing a treaty.” The UNCAC from which the EFCC was derived is a treaty which Nigeria ratified on 14 December 2004. It is from this treaty that the EFCC Act was enacted at the behest of the Executive and the National Assembly without the concordance of the State Assemblies.
Subsection three(3) of section 12 states that “a bill of the National Assembly passed pursuant to the provisions of subsection (2) of the section shall not be presented to the President for assent, and shall not be enacted, unless it is ratified by a majority of all the Houses of Assembly in the Federation.” Herein is the crux of the matter. Should the EFCC and other bills have been enacted into an Act of parliament without the concurrent ratification by a majority of the states’ Houses of Assembly? This is the knotty conundrum that the wise Justices of the Supreme Court would be adjudicating on in the coming days.
Eminent British jurist and one of the foremost justices of the legal profession in history, Lord Denning, once teased a colleague at a legal dinner: “Unlike my brother judge here, who is concerned with law, I am concerned with justice.” What the state governments are asking for is justice, not judgment. They are saying, “Let justice be done, though the heavens fall” (in Latin: Fiat justitia ruat caelum), an old time-tested maxim that set the tone for the reforms in modern legal practice. There’s a plaintive cry for justice in the air. May the Supreme Court birth justice, not judgment, in this case. https://dailytrust.com/efcc-vs-the-constitution-waiting-for-supreme-court/
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Politics › Dele Momodu Is Wrong On Seeing No Light At The End Of The Tunnel - Reno by AnonPoet(op): 4:34pm On Oct 15, 2024 |
I just read my egbon Dele Momodu's piece insisting that he does not see the light at the end of the tunnel, and I must disagree with him.
But before I do, please let it be known to all that Dele Momodu is someone I love, respect and cherish, and disagreeing with him does not mean disavowing him.
Egbon Dele, you are a source of inspiration to me and others. May God bless you. Having said that, let us examine some salient points.
For the first time in perhaps almost forever, Nigeria is now exporting more than she is importing. To give exact figures, in the first quarter of 2024, Nigeria had a trade surplus of ₦6,527 billion. This was a record. But that record only lasted for three months.
By the second quarter of 2024, Nigeria's trade surplus increased 6.5% to ₦6,945 billion from ₦6,527 billion, breaking the previous record. Thus meant that by Half Year 2024, we had exported enough goods and services to cover half our 2024 budget costs of ₦28.77 trillion.
Nobody, or government has achieved this before Tinubu. Egbon, please fact-check me. The economic reforms of the Tinubu administration has moved us from consumption to production, making us a prosumer nation (a country that consumes what she produces). And then there is the issue of our capital market.
The Nigerian Stock Exchange has broken four records in the last sixteen months.
On Wednesday, November 1, 2023, Bloomberg reported that the NGX hit its highest level ever since its creation when it rose 1.9% on a single day to hit 70,581.76 All Shares Index.
Then again, on January 10, 2024, the Nigerian Stock Exchange gained ₦1.6 trillion in a single day and achieved an All Shares Index of 83,191.84, another record.
Yet again, on Wednesday, January 24, 2024, just two weeks later, our stock exchange crossed the 100,000 basis point mark, setting a new all-time high record and overtaking Argentina as the world's most profitable stock market.
Finally, on Thursday, March 28, 2024, the NGX peaked at 104,562.06, representing a 39.84% increase year-to-date, making it the second-best performing exchange in Africa. With the above facts, would it still be accurate to maintain that one does not see light at the end of the tunnel?
But I am not done.
Nigeria, as of October 2024, has achieved backward integration in oil refineries for the first time in almost forty years. This means we no longer need to import Premium Motor Spirits or petrol. As a matter of fact, with the coming on stream of the Dangote Refinery, Nigeria is now a net exporter of finished petroleum products.
Only last week, the Nigerian National Petroleum Company Limited notified the Nigerian Upstream and Downstream Petroleum Regulatory Authority (NMDPRA) that it has stopped placing orders for fuel imports because the nation is now self-sufficient in the product.
If we as a nation move from importing fuel to exporting fuel and you still do not see the light at the end of the tunnel, it may mean that perhaps your vision may need adjustments.
But there is more. On Thursday, September 19, 2024, the Governor of the Central Bank of Nigeria revealed that our foreign reserves have risen to $39.07 billion. This is significant because it means Nigeria will not go the way of Venezuela and Zimbabwe.
This has only been made possible because our CBN has moved from the old bad habit of prioritising artificial currency stability over reserve accumulation.
Egbon, would you not say that an increase of 18.4% in our foreign reserve is a plus for our economy? And finally, in a pièce de résistance, Nigeria's economy, according to the International Monetary Fund and the World Bank, grew by a whopping 3.19% in the second quarter of 2024 compared with the same quarter last year.
Further breaking it down, the oil and gas sector grew by 10.15%, agriculture rose by 1.41%, and industrial output increased by 3.53%.
In all of these, it is hard to see how anyone could say they see no light at the end of the tunnel in such a scenario.
Egbon Dele, I noticed that you did not cite even one empirical fact in your piece. Rather, you said, "I’ve lived long enough in this country called Nigeria. I’ve listened to all the sweet talks by politicians. I have yet to see the sign of that light at the end of the tunnel."
You further said, "At my age, I’m almost giving up on anything happening from them because we can see the signs. I doubt that much will come out of what is going on because even the people surrounding the President, most of them are not ready for the change.”
But egbon, should we not focus on facts rather than sentiments? Data and statistics will not lie to you like your emotions. That is why sailors depend on navigation, rather than gut feelings, to guide them safely back to land on a dark and stormy night out at sea.
You, egbon Dele Momodu, and others who assume as you do, fail to understand that President Bola Tinubu did not bring hardship to Nigeria. That hardship was always there, because we were not producing enough, yet we were living above our means.
What the President has done is to remove the feeding bottle of borrowing, which we had hitherto used to avoid living within our means.
By making it impossible for us to sustain our fake lifestyle of taking foreign loans to subsidise the Naira and pay fuel subsidy, as well as artificially reduce the price of electricity, the President has forced Nigerians to come to terms with reality and live within our means.
If you think taking foreign loans to subsidise the Naira and make imports cheaper than locally manufactured goods is 'light at the end of the tunnel', then I would respectfully have to disagree. If rice from Thailand is now too expensive for us as Nigerians, we should not write long articles or pray for miracles. God has already given us rain and land, just as He gave Thailand. It is now left to us to use our brains and hands. Farm for your survival.
Nigerians have seed money. Please fact-check me: We import $200 million worth of human hair wigs for our women every year. £25 million worth of Scotch whiskey and $75 million French champagne. We do not need subsidised dollars. If you give it to us, we will piss it away on useless imports that add no or low value to our GDP.
President Bola Tinubu's reforms are the right step in the right direction, and I already see cascades of light, but we are not even near the end of the tunnel.
Reno Omokri Gospeller. Deep Thinker. #TableShaker. Ruffler of the Feathers of Obidents. #1 Bestselling author of Facts Versus Fiction: The True Story of the Jonathan Years. Hodophile. Hollywood Magazine Humanitarian of the Year, 2019. Business Insider Influencer of the Year 2022. https://m.facebook.com/story.php?story_fbid=pfbid02QcPfBp85xzQvwS95bpzodkdS7AGNisBesLX4pfr4j6ozX9X5D3nDiFGP2fYE53HPl&id=100057351074401&mibextid=WC7FNe
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Politics › Obi Wrong To Describe Supersport Killers As ‘Non State Actors’ - Diplomat by AnonPoet(op): 3:52pm On Oct 15, 2024 |
A former British Diplomat, Mr David Roberts, has condemned last week’s killing of some SuperSport TV crew on Ihiala-Orlu Road in Anambra State, saying it was an unfortunate act of criminality.
The former diplomat, in a statement on Monday, expressed his heart-felt condolences to the families of the victims and their media organisations over the incident he said occurred despite spirited efforts by security agencies to rein in criminal elements in the country.
Last Tuesday, armed men attacked the broadcast station’s crew on its way to Uyo, Akwa-Ibom State capital, to cover the Nigeria-Libya Africa Cup of Nations qualifier match, killing two members and a policeman.
Reacting to the incident, the presidential candidate of the Labour Party, Mr Peter Obi, blamed it on the actions of non-state actors, who had made the country uncomfortable for innocent citizens.
“Non-state actors have continued to inflict pain and sorrow on families whose loved ones are often kidnapped and, at times, killed in gruesome ways,” he said on his X-handle on Sunday, adding, “In particular, I condemn in its entirety the unfortunate killing of some crew members of SuperSport TV, who were attacked in a tragic ambush along the Ihiala-Orlu Road, Anambra State, a few days ago.”
However, Roberts, a former director of the British Council in Nigeria, clarified that the incident was an act of criminality by sundry criminal elements rather than terrorism, portrayed by Obi’s term non-state actor.
“By using the words “non-state actors” to describe the perpetrators of this dastardly and cowardly attack, Mr Obi has perhaps deliberately or inadvertently given the international community a clue that this incident was an act of terror or an organised act by a separatist group,” he said.
The former diplomat said it was necessary to make this clarification because terming the event as terrorism tended to stigmatise Nigeria as a terror-invested state, explaining that while the investigation was ongoing, it was clear that it was a random act of criminality by armed robbers or kidnappers, which have occurred globally despite the best efforts of governments.
He said, “Using the term non-state actors in this incident unnecessarily stigmatises Nigeria, which may tank her index score in next year’s Global Terrorism Index published by the Institute for Economics and Peace.”
Saying the use of the term by Obi was unfortunate, Roberts admonished influential and prominent Nigerians to be mindful of Nigeria’s international reputation whenever they made statements about its domestic affairs. https://newsdirect.ng/peter-obi-wrong-to-describe-supersport-killers-as-non-state-actors-british-diplomat/
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Business › Woven Finance Reintroduces Brand With Lifestyle Expo And Payment Revolution by AnonPoet(op): 10:19am On Oct 14, 2024 |
Lagos, Nigeria – October 14, 2024: Woven Finance, Nigeria’s emerging fintech powerhouse, is set to make a bold statement in the financial technology space with a dual event: The Woven Brand Refresh and Lifestyle Expo - taking place at Harbour Point, Victoria Island, Lagos. The events planned to hold on Thursday, November 14, 2024, promises to showcase the company’s cutting-edge payment solutions while offering consumers an immersive experience with top brands from Nigeria's vibrant lifestyle sectors.
The Brand Refresh, scheduled to kick off at 11am, will see Woven Finance reintroduce its brand to the Nigerian fintech landscape, and the market across the world. This event will highlight the company’s cutting-edge payment solutions designed to simplify and enhance the way businesses and consumers transact. Woven Finance is positioning itself as a leader in seamless payment collections through its robust infrastructure.
Its innovative product portfolio includes Virtual Accounts for easy transfers, QR Codes and Scan-to-Pay for contactless payments, Payment Links for remote transactions, and robust Online Payment Integrations. With a focus on swift reconciliation, competitive rates, and simple onboarding, Woven Finance is committed to revolutionising the payments landscape in Nigeria, ensuring secure, efficient, and convenient financial transactions
“Woven Finance, a Payment Solution Service Provider, licensed by the Central Bank of Nigeria (CBN), is committed to revolutionising the payments landscape in Nigeria. Our payment solutions are tailored to ensure that both businesses and individuals can enjoy fast, secure, and convenient transactions across multiple platforms”. Collins Obafemi, CEO: “With our Brand Refresh, we are reaffirming our position as one-of-the top fintech providers and emphasising our role in driving financial inclusion and innovation.”
Mr. Ajibola Adeboye, the Chief Operating Officer at Woven, emphasized the brand's commitment to customer satisfaction by stating, “Our bond with customers is built on trust, which is why we provide a variety of payment options. Customers can settle their bills through diverse channels, including e-mandate, virtual account transfers, payment links, and unique QR codes.”. In terms of reconciliation, we ensure that payments are processed and settled in a timely manner. With our commitment to providing the best rates in the market, you can trust that you're getting the most value for your money,” he said. Mr. Ajibola Adeboye, the Chief Operating Officer of Woven Finance, highlighted the company's commitment to speedy onboarding by stating, “Our goal is to ensure that customers can set up their accounts in just minutes using our user-friendly interface. At Woven Finance, we prioritize security and handle our customers' funds with the utmost care. Our robust security measures and vigilant monitoring systems guarantee the integrity of all transactions, providing customers with peace of mind and protection against unauthorized activities.”
The Woven Lifestyle Expo, which follows the Brand Refresh, will bring together over 60 merchants from various sectors, including fashion, travel, food, art, and tourism. The Expo will provide merchants with an opportunity to integrate their businesses into Woven Finance’s payment infrastructure, making it easier for them to accept payments through multiple channels.
Consumers attending the Expo will have the opportunity to shop, network, and enjoy the latest in lifestyle offerings while experiencing the ease of Woven’s payment solutions, including Scan-to-Pay, Payment Links, and Direct Debit options.
“Through the Woven Lifestyle Expo, we are not only creating a platform for brands to showcase their products but also giving consumers the chance to experience our Payment Solution firsthand,” added Mr. Collins Obafemi. “Our goal is to create a seamless connection between merchants and customers, driven by our efficient and secure payment infrastructure.”
About Woven Finance
https://woven.finance
Woven Finance is a Nigerian fintech company focused on providing innovative payment solutions that enable businesses and individuals to execute secure and seamless transactions. With products like Virtual Accounts, Card Payments, Payment Links, Scan-to-Pay, and Direct Debit, Woven Finance is committed to transforming how payments are made in Nigeria.
*Woven Finance undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Sponsored Post
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Politics › Flooding: Reps Committee On Ecological Funds Inspects Enugu by AnonPoet(op): 8:23am On Oct 08, 2024 |
The House of Representatives Committee on Ecological Funds has visited parts of Enugu State affected by recent flooding.
The communities include Amechi Idodo, Amauzam Amagunze, Ihuokpara and Nkerefi communities in Nkanu East LGA and Mpu, Okpanku, Oduma and Nenwe in Aninri Local Government Areas.
Assessing the impacts of the flooding, the team, led by the Chairman House Committee on Ecological Funds, Aminu Sani Jaji, explained that they decided to embark on the fact-finding visit to see things for themselves, assuring that substantial funds would be made available to address the situation.
“We have selected some states. Now, we have seen the level and magnitude of the flooding and other ecological issues that we are here to identify. We are equally here to find a lasting solution to most of the ecological issues that we have across the country. We have seen this place and we are heading to other places to see for ourselves.
Addressing the press, the Coordinator, Enugu State Emergency Management Agency (SEMA), Mrs. Chinasa Mbah, who accompanied the team, narrated how flooding and other ecological issues had caused devastations in parts of the state. https://guardian.ng/news/flooding-reps-committee-on-ecological-funds-inspects-enugu/
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Politics › Experts Call For Constitutional Reform, Attitudinal Change At PESAC Colloquium by AnonPoet(op): 4:43am On Oct 07, 2024 |
Experts at the Peace and Social Advancement Centre (PESAC) colloquium have called for urgent constitutional reforms and a shift in leadership attitudes to address Nigeria’s democratic and federalism challenges.
The event, which took place in Abeokuta, brought together stakeholders to analyze the nation’s governance system and proffer solutions for its advancement.
Themed around Nigeria’s democratic structure and federalism, the colloquium urged a revisitation of the 1999 Constitution, with a particular focus on addressing the enduring tension between federal and unitary elements within the nation’s governance framework.
Speaking through his Senior Legislative Aide, Adeola Sanni, the Federal House of Representatives member, Hon. Afolabi Moruf Afuape, advocated for the establishment of a community police corps and a state-specific development agenda.
He highlighted the need for constitutional review, underscoring the complexity of Nigeria’s federalism and the persistent unitary tendencies embedded in the current system.
“As a nation, we need to embrace constitutional reforms that reflect the uniqueness of each state’s developmental pace.
The federal system should allow flexibility for states to advance according to their capacities while maintaining the necessary cohesion as a nation,” Sanni stated on behalf of Afuape.
The Chairman of the colloquium, Gbenga Gbesan, echoed these sentiments, stressing that Nigeria’s political class must undergo a transformation in their approach to governance.
He called for a comprehensive restructuring of the system and a change in the attitude of politicians toward the nation’s development.
“We cannot continue with business as usual. For Nigeria to thrive, constitutional reform is paramount, and our leaders must embrace the change needed for genuine progress,” Gbesan said.
In his welcome address, Femi Adeleye, the Executive Director of PESAC, outlined the objectives of the colloquium.
He emphasized the importance of fostering inclusive dialogue that not only identifies the challenges of Nigeria’s quasi-federalism but also provides actionable recommendations to guide policy decisions.
The panel discussion featured legal expert Barrister Patrick Iwu, academic Dr. Bola Babalola, and journalist Rasaq Ayinla, who delved into the roots of Nigeria’s governance challenges.
They pointed to the mismanagement of power, lack of meaningful citizen engagement, and selective adherence to constitutional provisions as major hindrances to effective federalism.
“The constitution should be a living document that guides the nation’s progress, but in Nigeria, it is selectively applied, contributing to governance failures. We need reforms that ensure it is followed with integrity,” Iwu argued.
The panelists also provided insights into the evolution of Nigeria’s federalism, noting that the current system leans heavily on unitary principles, which hampers states’ ability to govern effectively.
They argued that genuine federalism would empower states to take charge of their development while fostering national unity.
Participants at the colloquium examined the implications of the unitary system on Nigeria’s governance and explored the challenges of implementing meaningful reform.
The event concluded with a consensus that constitutional reform, along with a change in leadership attitudes, is crucial to strengthening Nigeria’s federalism and enhancing democratic governance. https://platformtimes.com.ng/experts-call-for-constitutional-reform-attitudinal-change-at-pesac-colloquium/
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Business › Amen Estate: Redbricks And Ashlead Denies Ownership Claim By Babatunde Gbadamosi by AnonPoet(op): 6:08am On Sep 23, 2024 |
RE: SOCIAL MEDIA INFORMATION CONCERNING REDBRICK HOMES INTERNATIONAL LTD AN ASHLEAD ESTATES LTD
We are Solicitors to Redbrick Homes International Limited (Redbricks), Amen City Ltd, Ashlead Estates Ltd (Ashlead) and Ms Folasade Balogun (formerly Mrs Folasade Gbadamosi) and our attention has just been drawn to a social media post authored by one Babatunde Gbadamosi. In his post Babatunde Gbadamosi alleges that Amen Estate and Amen Estate Phase 2 of Eleko Beach Road, Ibeju-Lekki, Lagos State are assets of Redbricks and Ashlead. He states further that Redbricks and Ashlead belong to him and Ms Balogun. This information is false in every respect and we hereby advise the public to ignore it.
Babatunde Gbadamosi voluntarily relinquished his entire shareholding interest in Redbricks and Ashlead and resigned his directorship in these companies as far back as July 2021 under a notarised legal instrument. He has no interest whatsoever in either the above companies or any of their assets that he listed, namely Amen Estate, Amen Estate 2, TIARA, Emerald Bay, Emerald Park and Amen City.
His directorship resignations and shareholding relinquishment have been duly filed at the Corporate Affairs Commission and are available to the public for verification. None of these assets is listed as “marital assets” that is subject of litigation between Babatunde Gbadamosi and Ms Sade Balogun. Signed Babalakin & Co The Solicitors to Redbrick Homes International Limited (Redbricks), Amen City Ltd, Ashlead Estates Ltd (Ashlead) and Ms Folasade Balogun (formerly Mrs Folasade Gbadamosi), revealed that their attention has been drawn to a social media post, by one Babatunde.
In the said post, the owner of the account, Babatunde alleged that Amen Estate and Amen Estate Phase 2 of Eleko Beach Road, Ibeju-Lekki, Lagos State are assets of Redbricks and Ashlead.
He states further that Redbricks and Ashlead belong to him and Ms Balogun. The solicitors encourage the public to disregard this information, as it is entirely incorrect.
“Babatunde voluntarily relinquished his entire shareholding interest in Redbricks and Ashlead and resigned his directorship in these companies as far back as July 2021 under a notarised legal instrument,” the solicitors explains.
“He has no interest whatsoever in either of the above companies or any of their assets that he listed, namely Amen Estate, Amen Estate 2, TIARA, Emerald Bay, Emerald Park and Amen City,” they added
They further stated that his directorship resignations and shareholding relinquishment have been duly filed at the Corporate Affairs Commission and are available to the public for verification.
” None of these assets is listed as “marital assets” that is subject of litigation between Babatunde Gbadamosi and Ms Sade Balogun,” the solicitors asserted https://www.vanguardngr.com/2024/09/solicitors-refute-social-media-post-on-ownership-of-amen-estate-others/
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Health › Family Alleges Negligence After Father’s Death At Oghara Teaching Hospital by AnonPoet(op): 5:38pm On Sep 16, 2024 |
“Business with Human Lives”: Ekure Family Alleges Medical Negligence After Father D!es at Oghara Teaching Hospital
The family of Mr Hartley Ekure is calling for justice after medical negligence at Oghara Teaching Hospital, Delta State, led to the death of their father on September 11 2024.
Endurance Ekure, the deceased’s daughter, recounted the traumatic experience her family endured during her father's treatment, detailing a series of events she claimed were marred by misconduct and negligence by hospital staff.
According to Endurance, Mr Ekure was initially taken to a nearby hospital after collapsing in Sapele, Delta State, where he was placed on oxygen and later referred to Oghara Teaching Hospital.
Despite being placed on ventilators and undergoing a tracheostomy, his condition deteriorated.
Endurance alleged that the nurses and doctors responsible for her father’s care were neglectful and engaged in unethical practices, including stealing oxygen meant for patients and reselling prescribed medication.
“The negligence was beyond belief,” Endurance stated. “We spent over 10 million naira on my father’s treatment, buying oxygen and medicines, but the hospital staff sold the drugs to other patients and refused to provide basic care.”
She further accused hospital staff of abandoning her father in his critical state, leaving him malnourished and unsanitary.
"The nurses were always on social media during their shifts. They didn’t clean my father, and he suffered greatly."
The Ekure family claimed the misconduct reached a peak when IT students were assigned to manage her father’s care, leading to severe complications from a botched procedure that allegedly caused an infection.
Endurance, currently abroad, provided evidence of the money she sent for her father's treatment, asserting that despite her family’s efforts, her father died due to the hospital’s gross negligence.
The Ekure family is seeking legal action against Oghara Teaching Hospital, calling for accountability and justice for Mr Ekure’s death.
“We want those responsible to face the law. This is not just about my father—it’s about the many others who have suffered the same fate in these hospitals,” [/b]Endurance said.
Endurance not only shared her family’s painful experience but also revealed a chilling detail — more than ten patients reportedly died during her father’s two-month stay in the hospital.
She recounted that her father spent over two months in the hospital, during which time more than ten other families faced similar tragedies.
[b]“Before my dad died, over 10 people had already passed away. Families were rushing to remove bodies within an hour of death because the hospital demanded the immediate transfer of deceased patients to the mortuary, regardless of how much money had been spent on their care,” she said.
“It felt like they were running a business with human lives.”
Endurance also disclosed that one of the grieving families reached out to her for financial assistance, as they couldn’t afford the mortuary bill.
She recalled stepping in to cover the cost in a moment of desperation for the affected family.
"The hospital staff don’t care how much you spend — even if you’ve paid millions — the moment your loved one dies, they rush you to clear the body from the ward.
The hospital is yet to respond to these allegations. https://www.vanguardngr.com/2024/09/delta-family-alleges-negligence-after-fathers-death-at-oghara-teaching-hospital/
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Politics › Borno: VP Shettima, Zulum Sympathise With Flood Victims by AnonPoet(op): 6:58am On Sep 12, 2024 |
Vice President @KashimSM has on the directive of President Bola Tinubu visited Maiduguri to sympathize with millions of people who were displaced following the devastating flood disaster that ravaged the entire City on Tuesday.
Likewise, Governor Zulum who was outside the country, cut short his official visit to Maiduguri, where he visited some of the camps hosting the victims, including the Shehu of Borno, Dr. Abubakar Garbai Al-Amin Elkanemi, whose palace was also submerged.
This is as hundreds of inmates at the Old Maiduguri Prison were relocated to New Maximum Prison opposite 7Div, Nigerian Army, Maimalari Cantonment for safety, as the old prison was also submerged.
But unconfirmed report also indicated that the Old Prison witnessed a jailbreak during the flooding, before other inmates were evacuated by security agencies.
Addressing thousands of the victims taking refuge at Bakassi IDP camp, Senator @KashimSM enjoined the victims to take what befell them as the act of God.
He then directed authorities of @nemanigeria, @NEDCOfficialNg, @OfficialNCFRMI, among other stakeholders in his entourage to collaborate with Borno State Government under the leadership of Governor @ProfZulum to immediately provide relief items to the affected population.
“I am here under the directive of Mr. President @officialABAT to sympathise with you over the unfortunate incident. I want to commend you for the good conduct despite your predicaments.
”I want to assure you that government will not forsake you as I have directed all relevant agencies of government such as @nemanigeria, @NEDCOfficialNg, @OfficialNCFRMI among others to provide relief materials to cushion your immediate hardship”. @KashimSM stated.
The VP in the company of the @GovBorno among other dignitaries were ferried in a military truck to gain access to Shehu of Borno whose palace was consumed by the disaster and offered sensational sympathy to the Emirate Council.
@KashimSM while addressing the Borno Monarch said: “We are here at the palace to sympathize with you and the Emirate over the unfortunate incident.
”The Federal Government has approved 50 trucks of rice which is now on the way to Maiduguri for onward distribution for the victims”. Shettima told the Monarch.
Responding, the Shehu thanked President @officialABAT, his Vice, Senator @KashimSM and Governor @ProfZulum for the timely sympathy visit.
Governor @ProfZulum who earlier visited Gomari Airport Primary and Secondary School, Bakassi camp, Shehu of Borno’s palace among other places sympathized with the victims, even as he promised them that the government would give the victims maximum support and relocate back to their houses as the situation improves. https://www.facebook.com/share/p/1ArjmLmA6T/?mibextid=oFDknk
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Business › Bank Your Way to Millions Launch; LOTUS Bank Customers to win over ₦50 million by AnonPoet(op): 5:17pm On Sep 11, 2024 |
Imagine turning everyday banking into an opportunity to win millions—this is exactly what LOTUS Bank is offering its customers with the launch of its new and exciting ‘Bank Your Way to Millions’ campaign. In a bold move to redefine customer engagement, LOTUS Bank is rewarding loyalty and encouraging digital banking with substantial cash prizes, all while promoting financial responsibility.
At the core of the campaign is a commitment to promoting financial responsibility while providing customers with opportunities for growth. LOTUS Bank seeks to foster a culture of saving and digital engagement, presenting customers with the chance to win significant rewards through their everyday banking activities.
The “Bank Your Way to Millions” campaign introduces a straightforward and accessible reward system. It focuses on free transfers, referral bonuses, and various cash prize draws, giving both new and existing customers a chance to benefit from their banking activities. Free Transfers: Customers can make three free transfers per day, amounting to 90 free transfers per month. This feature reduces transaction costs for frequent users of the bank’s digital platforms.
Referral Bonuses: Each time a customer refers a new account holder, they earn ₦500. The more referrals they make, the more they can earn, making this an attractive option for those looking to grow their income through simple word-of-mouth.
Cash Prizes: Customers stand a chance to win weekly, monthly, and grand prizes for maintaining certain account balances and completing transactions through the bank’s Mobile App, USSD, POS, or ATM services. Prizes range from ₦100,000 weekly to a grand prize of ₦3,000,000 at the end of the three-month campaign period
The rewards are designed to cater to customers at different levels of engagement, ensuring that everyone has a chance to participate:
Weekly Rewards: Customers who maintain a minimum balance of ₦5,000 and make at least three transactions per week on the bank’s digital channels will be entered into a weekly draw. Five winners will be selected each week, with each receiving ₦100,000
Monthly Prizes: Customers with an average balance of ₦10,000 and who conduct at least ten transactions in a month qualify for a draw to win ₦1,500,000.
Grand Prizes: To qualify for the grand prize of ₦3,000,000, customers need to maintain an average balance of ₦20,000 and complete 30 transactions over the course of three months
Customers are encouraged to carry out their transactions through the bank’s Mobile
App, USSD, POS, ATM, and card payment systems. Eligible transactions include simple activities such as buying airtime, paying bills, and making transfers via the bank's digital platforms. By doing so, customers not only meet their financial needs but also increase their chances of winning rewards.Referral bonuses also add a layer of engagement to the campaign. Customers can easily refer by friends and family through the bank’s mobile app, sharing referral codes via social media. The more customers they refer, the higher their referral bonuses will be, with ₦500 credited for each new account successfully opened.
With this campaign, LOTUS Bank continues to raise the bar, offering its customers a pathway to financial growth, driven by innovation and a commitment to excellence. As the campaign unfolds, customers across Nigeria will have the opportunity to not only bank their way to millions but also strengthen their financial future with LOTUS Bank. Sponsored Post
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Politics › Reno Omokri Was Cleared Of Ex-Wife’s Abuse Allegation In 2018 - The Cable by AnonPoet(op): 12:48pm On Sep 11, 2024 |
Reno Omokri was cleared of allegations of abuse and physical assault made by his ex-wife Tuokpe Onuwaje as far back as 2018, TheCable can report.
Onuwaje, a school teacher, was the first wife of the ex-media aide to former President Goodluck Jonathan. The couple have three children together.
But on Sunday, she took to social media to accuse Omokri of domestic violence. She claimed she “tolerated physical abuse” in their marriage, alleging that Omokri’s assault left her with a “swollen jaw, ruptured eardrums, and weeks of pain”.
“After the first instance of violence, I made excuses, thinking I must have provoked the anger. I even had to endure seeing my daughter witness another slap. And there was the morning I woke up to find blood on my pillow,” her Instagram post reads in part.
Onuwaje’s Instagram post followed after Omokri shared a picture he took with his wife Hanna on X, formerly Twitter.
In the tweet, the author described Hanna, who is believed to be from Ethiopia, as “a beauty queen who has devoted her life to God and me”.
Omokri also praised her for being a woman who “does not know how to quarrel and is incapable of malice”.
Today, I want to praise my wife. She is a beauty queen who has devoted her life to God and, after Him, to me. My mother spoiled me. And I thought spoiling was over for me. Then, I married my wife and got another mother, a pure met-at-home lover. A woman who does not know how to… pic.twitter.com/2FXxiLBPmd
—Reno Omokri (@renoomokri) September 7, 2024
However, Onuwaje cast doubt on Omokri’s remark of a harmonious marriage. In her Instagram post, she argued, “now you claim to be happily married to a woman who doesn’t “quarrel”. Good luck to her, because you always wanted someone you could control and intimidate”.
She made the post as Omokri was being touted as a possible replacement for Ajuri Ngelale, the presidential spokesman who stepped aside on September 6.
TheCable recently contacted the legal authorities in Contra Costa County in California, United States, and is in receipt of a letter by the Children and Family Services clearing Omokri of abuse allegations made by his ex-wife.
In the letter dated August 28, 2018, and addressed to Omokri, the authorities stated that they had received allegations of physical abuse by the author towards one of his children.
The family service said the allegations — which placed Reno at risk of abusing his two other children — were investigated and “closed as inconclusive”.
The agency added that Omokri’s “children reported no safety concerns” when in his care.
Further investigation also showed that the marriage between Omokri and Onuwaje had been officially dissolved nearly two decades ago.
TheCable recently obtained a decree from the Lagos high court confirming the union was dissolved on August 25, 2005 due to “irreconcilable differences”.
“The court therefore decreed that upon and subject to the Decree of the Court becoming absolute, the marriage solemnised on the 12th of June, 2004, between Tuokpe Omokri and Reno Omokri is hereby dissolved,” the legal document reads in part.
Additionally, public records show that Onuwaje has not associated herself with the surname ‘Omokri’ on social media platforms since 2007.
Since their divorce, she has also posted about being in a relationship with another man at least once.
Police records seen by TheCable also showed that Onuwaje had previously contacted the authorities on different occasions regarding two of her brothers.
In 2021, Omokri and Hanna welcomed a baby girl named Ebele. https://lifestyle.thecable.ng/revealed-how-reno-omokri-was-cleared-of-ex-wifes-abuse-allegation-in-2018/
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Politics › Matthew Amadi Launches "The Mazi Organization", Calls For Nnamdi Kanu's Release by AnonPoet(op): 5:09am On Sep 04, 2024 |
GLITZ, GLAMOUR AS MATTHEW AMADI LAUNCHES 'THE MAZI ORGANIZATION'
......Calls for the release of Nnamdi Kanu.
It was pomp and splendor at Umuekwune in Ngor Okpala LGA, on Saturday 31st August 2024 when Dr Matthew Amadi (Gburugburu) launched The Mazi Organization. The event which was unarguably seen as the biggest of its kind in the recent times, was attended by eminent Nigerian personalities and mammoth crowd from different walks of life. Indeed, it was a gathering of the creme de la creme of the Nigeriran society with mammoth crowd across the state.
As early as 8:am on Saturday, the crowd from far and near had started arriving at the primary school Umuehieze Umuekwune venue of the event. The environment was beautified with unique touch of decoration. The VIP tables were exquisitely draped with alluring white and red wraps of cloths and bouquets of flowers, each table tempting and inviting. Dignitaries from within and outside the state thronged the venue to be part of the historic event. The atmosphere of the occasion was electrified with the arrival and grandiloquent entry of the masquerade of the occasion, Mazi Dr Mathew Chima Amadi who was elegantly and magnificently dressed in his gorgeous purple-coloured 'agwada' attire with glittering gold-fancied cap, radiating beauty, panache and uniqueness.
His arrival which was heralded with canon shots elicited a thunderous ovation bursting into chorus of "Gburugburuuuuuu! by the crowd that thronged around to receive him. It took the intervention of the security personnels to disperse the crowd. He was accompanied to the arena by former Minister of state for education,Barr Chukwuemeka Nwajiuba, former Senator of Okigwe Zone, Senator Frank Ibezim, Hon Mathew Nwaoguala, member representing Aboh Mbaise Ngor Okpala federal constituency, Okenze Blyden Amajirionwu, Hon Emeka Onanamadu, former Enugu state REC and other dignitaries.
Many traditional rulers of Ngor Okpala were seen in their full regalia with their Ugoeze's like; HRH Eze Fredrick Nwachukwu of Ngor, HRH Eze Geoffrey Okoro of Upe, HRH Eze Sabastine Obirieze of Ihitte, HRH Eze George Nwosu of Egbelu Umuekwune, HRH Eze Augustine Ekechi of Imerienwe, HRH Eze Eze Anthony Ekwe of Ezemba Community.
After the opening prayer by Rev Fr. Justin Obijuru of st. Patrick's catholic church Umuekwune, the occasion was formally kicked-off with presentation of kolanut.
In his opening remark, the Coordinator of The Mazi Organization, Mr Obioma Calistus Onwuegbucha described The Mazi Organization as a force dedicated to empowering communities and achieving political and developmental goals. "The Organization is a testament to the power of collective action and Community spirit. We believe that by working together, we can create a brighter future for ourselves, our children and generation to come".
When he was invited to the stage for his speech, the arena was on fire and tumultuous as the crowd combusted into a spontaneous ovation.
In his speech, Mazi Dr Mathew Chima Matthew said the occasion marks a significant milestone in our collective journey towards creating a more equitable and sustainable future for local communities. "It is not just the launch of an Organization, it is the birth of a movement. A movement that will embodies hope, empowerment and collective action. A movement that seems to uplift our local communities, support those in need and create sustainable change from the group up". He added " The idea I represent is an idea whose time has come, OGE ERULA!. As we stand here , we must realize that we are on the cusp of a new era where we must bring this idea to reality as it is dictated by our historical necessity, our sense of urgency, and a conviction that having found our mission, posterity will judge us harshly if we betray it. Like our people will say, "anyi ekwechirila".
He therefore called for the release of the leader of the Indigenous People of Biafra, Mazi Nnamdi Kanu."It is with the understanding of our vision for a peaceful Imo state, where our people can grow, go to school and do business that I solemnly lend my voice to the call for the unconditional release of Mazi Nnamdi Kanu from incarceration. I do this with the realization that peace is fundamental to growth. In recent years our dear state has become an unfortunate epicenter of violence and destruction. And I believe that Mazi Nnamdi Kanu can play a key role in the restoration of peace to our state".
In their separate goodwill messages, Hon Dr Mathew Nwaoguala, Okenze Blyden Amajirionwu, Hon Henry Onwukwe, ADC delegation from Abuja, IPAC leadership and different support groups applauded the philanthropic gesture of Mazi Matthew Amadi and the idealogy of The Mazi Organization and called on the people of the state to queue in and support the movement and its initiative.
Highpoint of the occasion was the Inauguration of The Mazi Organization and empwerment of youths from different wards of Ngor Okpala.
The people who could not resist the Bongo lyrics of Bruno Udara Onye-Uwa, took over the centre stage and danced glamorously.
The event may have come and gone, but its echoes still resonate within the contours of the state firmament.
Other dignitaries at the event include; IPAC leadership in the state led by Hon John Iwuala, ADC delegation from Abuja, former member of Imo House of Assembly, Hon. Michael Crown, Chief Henry Onwukwe(Apitti), High Chief Val Okere (Amadioha Ngor Okpala), forum of Ngor Okpala former councillors, Hon. Uche Oguike, Barr. Collins Obilor, Chief Obed Nworgu of Arik airlines, Sir Cosmos Onyebuenyi, Dr Chigozie Okereke, over twenty five different support groups across the state. https://www.facebook.com/share/p/eqtNUDcJwo3JjkD1/?mibextid=xfxF2i
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Politics › Who Really Owns Dangote Refinery? by AnonPoet(op): 9:41am On Aug 30, 2024 |
There has been a long battle between the Dangote Refinery and the NNPC. [/b]This has raised [b]concerns about the viability of the Dangote Refinery in providing petroleum products for Nigerians.
In the past few weeks, analysts have raised questions as to why dangote Refinery hasn't started producing petroleum products.
Does dangote Refinery have a signed contract with the NNPC? Why is there so much delay in producing petroleum products?
Does the NNPC stil have a stake in the dangote Refinery? When are we really going to start enjoying the benefit of this Refinery?
These are questions looking for answers on the lips of many Nigerians.
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Sports › D’Tigress Make History, Becomes First African Team To Break Into FIBA Top 10 by AnonPoet(op): 5:43pm On Aug 29, 2024 |
The Nigerian women’s basketball team, D’Tigress, has made history by rising to eighth place in the latest FIBA rankings, released on Thursday.
This significant leap of four spots secures their position among the top 10 teams globally, making them the first African team – men or women – to break into the top 10 of the FIBA world rankings.
D’Tigress’ impressive performance at the Paris Olympics fueled their historic rise. Notable achievements include:
– Defeating Australia in their first game, securing their first Olympic victory in 20 years.
– “A brilliant performance” against France.
– Defeating Canada to become the first African side to qualify for the Olympic basketball quarter-finals.
Although they lost to the United States in the quarter-finals, D’Tigress’ remarkable display earned their head coach, Rena Wakama, the title of “best coach of the women’s basketball event.”
The top five teams in women’s basketball remain, United States (Olympic champions), Australia, France, China, Spain.
D’Tigress’ groundbreaking achievement solidifies their position as six-time AfroBasket champions and a force to be reckoned with in global women’s basketball. https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://gazettengr.com/dtigress-paris-games-success-helps-nigeria-to-8th-in-fiba-rankings/&ved=2ahUKEwjApbPl0pqIAxVDafEDHRFCDHAQFnoECBMQAQ&usg=AOvVaw0ohiC4jgmzx0aVexothNld
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Politics › Governor Mbah Inaugurates Minimum Wage Implementation Committee by AnonPoet(op): 4:54pm On Aug 29, 2024 |
Governor Peter Mbah has inaugurated the Committee for the implementation of the New National Minimum Wage for Civil and Public Servants in Enugu State, giving the committee a maximum of one month to submit its report.
The committee which was inaugurated on Thursday at the Government House, Enugu, had the Head of Service, Kenneth Ugwu, as Chairman; representative of the Office of the Secretary to the State Government, Sandra George as Secretary and the Commissioner of Finance and Economic Development, Dr. Nathaniel Uramah.
Others are the Commissioner for Labour and Employment, Pharm Chika Ugwuoke; and Accountant-General of the state, Mr. Anthony Okenwa as members.
On the Labour side, the Chairman of the Nigeria Labour Congress (NLC), Enugu State chapter, Comrade Fabian Nwigbo and Chairman of the state chapter of the Trade Union Congress (TUC), Comrade Benedict Asogwa.
Others are the Chairman, Public Service Joint Negotiating Council, Comrade Ezekiel Omeh, and Chairman of the state chapter of the National Union of Local Government Employees, Comrade Udaya Ani are members.
Inaugurating the Committee, Governor Mbah reiterated his commitment to workers’ welfare and urged the Committee to consult widely with relevant stakeholders, especially the Ministries, Departments, and Agencies, to ensure that the workers take ownership of the eventual report.
“We have set very ambitious targets for ourselves, and we know that the only thing between us and achieving these targets will be the human resources because as great as our visions and dreams might be, it would be impossible to anything if we do not have a motivated workforce.
“We recognised it from the very onset, which is why before the discussions on the new minimum wage came up, we introduced the wage awards, and made a commitment that we would not cease until we migrate to the new minimum wage.
“That is why the constitution of this Committee for the implementation of the new national minimum wage is a very important exercise, and we have carefully selected members of this committee. We believe that you will be able to discharge yourself creditably,” he said.
The governor added that, “We expect, as terms of reference, you should be able to come up with a comprehensive review of the salary chat of all categories and cadres of workers of both the state and the local government levels, the unified local government system, using the existing state salary chat as a guide.
“Finally, we will expect to have a detailed report submitted within a month. We want to get on with the implementation of the new national minimum wage as quickly as possible.”
Speaking, the Committee Chairman and Head of Service, Kenneth Ugwu, assured that the governor that the committee would surpass his expectation both in terms of time frame and quality of work.
“We are aware of your commitment to the welfare and motivation of the great workers of Enugu State. All our recommendations are going to be aligned with your vision for a highly motivated and productive public service.
“We are not only going to meet your expectations, but we are also going to surpass it. One-month period is given to us, but I assure you hat we are going to submit our recommendations in record time,” he stated.
Speaking to Government House correspondent, Chairman of TUC, Comrade Asogwa, said Governor Mbah’s prompt action did not come to Enugu workers as a surprise, as he had been paying wage awards to workers since 2023.
“The governor also made a promise to the health professionals to pay the 100 per cent Consolidated Health Workers Salary Structure (CONHESS) starting from this month of August.
“If you go to the health industry within the state today, all the health professionals are happy because they have started receiving the new salary alerts as promised.
“So, setting up this Committee did not come to us as a surprise because we know the kind of person we have as a Governor. He is not playing. https://thesun.ng/gov-mbah-inaugurates-minimum-wage-implementation-committee/
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Politics › Local Production Will End Fuel Scarcity, Hardship – Afolabi Afuape by AnonPoet(op): 12:38pm On Aug 27, 2024 |
The lawmaker representing Abeokuta South Federal Constituency at the House of Representatives, Afolabi Afuape, has stated that local production of Premium Motor Spirit, also known as petrol, would end the current hardship being faced by Nigerians.
Afuape attributed the ongoing fuel scarcity to individuals with vested interests.
He urged Nigerians to remain patient and cooperate with President Bola Tinubu in addressing the economic challenges confronting the nation.
He stated this on Monday during the commencement of a two-day medical outreach organised in collaboration with the Senior Citizen Centre at the Centenary Hall, Ake Abeokuta area of Ogun State.
The lawmaker emphasised that a collective effort is necessary to resolve the difficulties caused by fuel scarcity.
He noted that once local refineries, such as the Port Harcourt Refinery, commence operations, Nigerians would experience relief from the current hardship.
“People are creating artificial fuel scarcity, with some selling at N600 per litre. We face many issues, but until we produce petrol locally, this problem may persist.
“I believe the Port Harcourt Refinery will start production soon. These are temporary challenges, and they will subside in the coming months,” he said.
“I believe there will be light at the end of the tunnel. It is difficult, but our President is working tirelessly, providing palliatives, which are short-term solutions.”
On the medical outreach, Afuape said it was aimed at ensuring the well-being of his constituents.
The free medical services included treatment for malaria, typhoid, ulcers, eye and dental problems, high blood pressure, diabetes, and minor surgeries.
“Health is wealth,” Afuape stressed, highlighting the importance of health as a key aspect of the Sustainable Development Goals.
“We need to assess the health status of our people. Going forward, some individuals might require minor surgeries, which are part of my constituency project to give back to my community.
“If they need minor surgery, I may use my personal funds because I strongly believe that once our people are healthy, other improvements will follow. If we discover health issues not covered by this outreach, we will refer them to other hospitals, and I will take responsibility for their expenses. This is simply a way of giving back to society,” he added. https://punchng.com/local-production-will-end-fuel-scarcity-hardship-ogun-lawmaker/
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Politics › How The Windfall Tax On Banks Can Fuel Nigeria’s Infrastructure And Social Devel by AnonPoet(op): 3:53pm On Aug 21, 2024 |
In the complex tapestry of Nigeria’s economic landscape, the banking sector stands as a beacon of stability and profitability. Despite economic headwinds, Nigerian banks have consistently recorded substantial profits, even during periods of economic downturns, N1.07 trillion in 2022. This resilience, while commendable, has sparked discussions about the role these financial giants should play in national development, particularly in a country where infrastructure, healthcare, and education are in dire need of revitalization. A proposed windfall tax on banks could be a transformative approach to address these pressing needs, effectively redistributing wealth for the greater good of the nation. In the spirit of the above argument, President Bola Ahmed Tinubu in a letter to the Senate urged them to amend the 2023 Finance Act to impose a one-time windfall tax on banks’ foreign exchange (FX) gains. The new legislation is expected to tax the bumper incomes derived by banks last year from the revaluation of their foreign currency-denominated assets after a free fall in the value of the Naira caused a surge in the value of such assets when converted into the local currency. According to the president, the tax will help “fund capital infrastructural development, education and healthcare access as well as public welfare initiatives all of which are essential components of the Renewed Hope Agenda.” No sooner had the president made his move than a section of stakeholders opposed it including Bank Directors and some Shareholders Associations. This is even as the Association of National Accountants of Nigeria (ANAN) and the Chartered Institute of Taxation of Nigeria (CITN) give thumbs up to the proposal. But the windfall tax is a welcome development for various reasons although we will dwell on the developmental advantages in this article. Understanding the Windfall TaxA windfall tax is a levy imposed by the government on companies that have benefited from economic conditions that have allowed them to realise profits far exceeding the norm. In Nigeria, the proposal for a windfall tax on banks stems from the robust profits these institutions have been generating, often at a time when other sectors and the general populace are grappling with economic challenges. The idea is to tap into these extraordinary profits and channel the revenue towards national development projects. The Rationale Behind the Windfall TaxNigeria’s banking sector has consistently reported significant profits. For instance, in 2022, “twelve of the major Deposit Money Banks quoted on the Nigerian Exchange posted an aggregate profit after tax of N1.07 trillion, representing a 6.4 percent increase when compared to N1.01 trillion recorded in the previous year”, according to a Nairametrics report. This profitability is largely driven by a combination of factors, including high interest rates, fees on electronic transactions, and foreign exchange trading, among others. While these profits are commendable from a business perspective, they present an opportunity for the government to consider how a portion of these earnings could be redirected to benefit the wider society. The windfall tax could serve as a tool to bridge the gap between the banking sector’s profitability and the dire need for improved public services and infrastructure across Nigeria. Redirecting Revenue Towards Critical InfrastructureOne of the most glaring challenges Nigeria faces is its inadequate infrastructure.” Experts say Nigeria needs between $100 billion and $150 billion annually over the next 30 years to close its infrastructure deficit. Dataphyte estimates it at $2.3 trillion, and Agusto & Co, and the World Bank at $3 trillion”, says a Punch report of September 18, 2023. These are astronomical figures, especially considering the nation’s current fiscal constraints. The revenue generated from a windfall tax on banks could provide a much-needed boost to infrastructure financing, potentially transforming the country’s roads, bridges, railways, and power supply systems. Also, Nigeria’s transportation infrastructure is in desperate need of improvement. The country’s road network, which spans over 195,000 kilometres, is mostly in poor condition, with only 15-18% considered to be in good condition. Poor road infrastructure not only hampers economic activities but also contributes to high transportation costs and road accidents. By directing windfall tax revenue towards road rehabilitation and expansion, Nigeria can significantly reduce these issues, fostering smoother and more efficient transportation across the country. Similarly, Power generation and distribution in Nigeria have been perennial problems, with the nation currently generating only about 4,000 megawatts of electricity for a population exceeding 200 million people. This power deficit has stifled industrial growth and impeded economic development. Revenue from the windfall tax could be allocated to expanding power generation capacity, upgrading transmission infrastructure, and promoting renewable energy projects. By addressing the power supply issues, Nigeria could unlock significant economic potential, leading to job creation and industrial growth. In addition to the catalogue of developmental problems, Nigeria’s rail network, though extensive, is outdated and underutilised. A modern, efficient rail system could significantly reduce the burden on road transportation, lower the cost of goods transportation, and connect more regions of the country economically. Investing windfall tax revenues in modernising and expanding the rail network would provide a more efficient and sustainable transportation option for both people and goods, stimulating economic activities in regions currently underserved by infrastructure. Transforming Healthcare with Windfall Tax RevenueThe healthcare system in Nigeria is in a state of disrepair, characterised by inadequate facilities, a shortage of medical personnel, and poor access to essential medicines. The World Health Organization (WHO) reports that Nigeria has one of the highest maternal and infant mortality rates globally, a stark indicator of the healthcare challenges the country faces. One of the most critical needs in Nigeria’s healthcare system is the improvement of healthcare infrastructure. Many hospitals and clinics lack basic amenities and are often overcrowded. Windfall tax revenue could be used to build new hospitals, particularly in rural and underserved areas, and upgrade existing ones. This would improve access to quality healthcare services for millions of Nigerians and reduce the need for medical tourism, where Nigerians seek treatment abroad due to inadequate local facilities. It is common knowledge, even disheartening, that Nigeria’s healthcare sector suffers from a severe brain drain, with many doctors and nurses leaving the country for better opportunities abroad. The windfall tax revenue could be used to improve the working conditions, salaries, and benefits for healthcare workers, making the sector more attractive and retaining talent within the country. Additionally, investing in medical education and training can ensure a steady pipeline of qualified healthcare professionals to meet the country’s needs. Since using it as part of a rallying call of the need for change, in 1983 by Regime Changers, access to essential medicines remains a significant challenge in Nigeria, especially in rural areas. Many Nigerians are unable to afford necessary medications, leading to preventable illnesses and deaths. By using windfall tax revenue to subsidise the cost of essential medicines and improve distribution networks, the government can ensure that more Nigerians have access to the medications they need, regardless of their economic status. Elevating Education Through Strategic InvestmentEducation is a cornerstone of national development, yet Nigeria’s education system faces numerous challenges, including inadequate funding, dilapidated infrastructure, and a high rate of out-of-school children. The United Nations Educational, Scientific and Cultural Organization (UNESCO) estimates that over 9 million Nigerian children are out of school, making it the country with the highest number of out-of-school children globally. The infrastructure in many Nigerian schools is in deplorable condition, with many students learning in overcrowded and poorly equipped classrooms. Windfall tax revenue could be allocated to building new schools in underserved areas and renovating existing ones. This would create a more conducive learning environment, encourage school attendance, and reduce dropout rates. Also, teachers are the backbone of the education system, yet many Nigerian teachers are underpaid and lack adequate training. By investing windfall tax revenue in teacher training programmes and improving compensation, the government can attract and retain qualified educators, thereby improving the quality of education. A well-trained and motivated teaching workforce is crucial for producing the skilled professionals needed for national development. Although the government has introduced the Education Loan Fund to alleviate the cost of higher education, it remains out of reach for many due to high costs and limited availability of spaces in universities and colleges. Windfall tax revenue could be used to expand access to higher education by building more institutions, offering scholarships, and supporting vocational training programmes. By increasing access to higher education, Nigeria can develop a more skilled workforce, capable of driving innovation and economic growth. The Broader Impact on National DevelopmentThe implementation of a windfall tax on banks and the strategic redirection of the revenue generated towards infrastructure, healthcare, and education as discussed above, can have far-reaching effects on Nigeria’s national development. These investments would not only improve the standard of living for millions of Nigerians but also create a more stable and prosperous nation. Investments in infrastructure, healthcare, and education are catalysts for economic growth. Improved infrastructure reduces the cost of doing business, attracting both local and foreign investments. A healthier population is more productive, and a well-educated workforce drives innovation and competitiveness. These sectors also directly create jobs, from construction workers building new roads and schools to teachers and healthcare professionals delivering essential services. Nigeria is a country of stark contrasts, with significant wealth disparities between different regions and social classes. By redistributing wealth through the windfall tax and investing in public services, the government can reduce these inequalities, fostering social cohesion. When more people have access to quality education, healthcare, and infrastructure, the benefits of economic growth are more widely shared, reducing poverty and social tensions. Underdevelopment and poverty are often root causes of insecurity. In regions where people lack access to basic services and economic opportunities, there is a higher likelihood of social unrest and conflict. By investing in development through windfall tax revenue, the government can address some of the underlying causes of insecurity, promoting peace and stability across the country. This approach is not without challenges, including potential pushback from the banking sector and the need for transparent and efficient management of the tax revenue. However, the potential benefits far outweigh the risks. With careful planning and execution, the windfall tax could be a powerful tool for transforming Nigeria’s development landscape, ensuring that the prosperity generated by the banking sector contributes to the nation’s broader economic and social goals. Francis Nnanyelu, a Public Affairs Analyst, writes from Abuja
How the Windfall Tax on banks can fuel Nigeria’s infrastructure and social developmenthttps://guardian.ng/opinion/how-the-windfall-tax-on-banks-can-fuel-nigerias-infrastructure-and-social-development/
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Politics › Ogun APC Bars Sectional Meetings Ahead Of Party Primaries by AnonPoet(op): 11:06pm On Aug 20, 2024 |
The All Progressives Congress (APC) in Ogun State has prohibited sectional and unauthorised meetings by aspirants or their allies ahead of the forthcoming local government Primary elections.
In a public notice issued on Wednesday, signed by State Party Chairman, Chief Yemi Sanusi, the party stressed that it has absolute control over preparations for the elections.
The notice stated that only the party chairman or a designated person can call meetings, warning that unauthorised gatherings may attract disciplinary action, including screening out non-conforming aspirants.
The APC, which dominates Ogun State’s political landscape, occupying key positions, emphasized that individual interests must align with the party’s overall strategy for victory in the November 16 elections.
This move aims to ensure a unified approach to the polls and maintain party discipline. https://newsacross.com/breaking-ogun-apc-bars-sectional-meetings-ahead-of-party-primaries/
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Politics › Tinubu’s Presidential Jet: Reno Omokri Fact-Checks Daily Trust by AnonPoet(op): 5:56pm On Aug 20, 2024 |
Dear Daily Trust,
Please fact-check me: You deliberately omitted to tell your readers that the U.S. has ordered a new Air Force One from Boeing, at the cost of $3.9 billion, which is over 300 times the cost of Nigeria’s new Presidential Jet.
You also failed to inform your readers that it costs $177,843 an hour and $2,964 every minute for the US Air Force to maintain the current Air Force one that President Biden uses, which, when you calculate the yearly cost is more than the $100 million Nigeria spent on the new Presidential Jet.
Finally, you additionally failed to tell your readers that the Presidential Aircraft that crashed and killed President Ebrahim Raisi of Iran was an old one, and that it was better serviced than Nigeria’s old Presidential Jets.
Daily Trust, what do you want to achieve by this mischievous reportage filled with half-truths? You have a nasty habit of attacking every Southern President. You did the same things to Presidents Obasanjo and Jonathan, deliberately suppressing information and projecting only propaganda that would undermine their administrations.
Yet, you spent eight years being General Buhari’s apologists.
What is your agenda? Do you want President Tinubu to die like President Ebrahim Raisi of Iran? God forbid!
#TableShaker https://newsdirect.ng/reno-omokri-exposes-daily-trusts-hypocrisy-over-new-presidential-jet/
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Foreign Affairs › Kenya Set To Revive Some Tax Measures In The Scrapped Finance Bill by AnonPoet(op): 5:21am On Aug 14, 2024 |
The Kenyan ministry of finance is planning to bring back some of the taxes in the defunct controversial Finance Bill in a new attempt to widen tax net, raise more revenues and slash borrowings.
Kenyan lawmakers were forced to drop the bill after weeks of protests which led to the deaths of not less than 61 people.
The taxes that formed part of the Finance Bill 2024 and aimed to raise additional 344 billion shillings ($2.7 billion) in the current fiscal year were scrapped following the youth-led demonstrations.
President William Ruto was equally forced to sack his entire cabinet, including then-Treasury Secretary Njuguna Ndung’u and cut down on the cost of governance.
“Our team is already working on some of those proposals that were in the Finance Bill 2024, which we can now put together and take back to parliament, not as a Finance Bill, but as other proposals,” John Mbadi, the new treasury head, said Monday, according to a report by Bloomberg.
Mbadi said a public consultation will be done in order to avoid a repeat of what brought economic activities in the most advanced east African economy to a halt for weeks.
“We will do extensive public participation because we don’t want to be blamed again, to be accused of introducing things that are insensitive without considering the plight and concerns of Kenyans,” he said.
Some of the proposed taxes had included increasing levies on essentials such as bread and diapers.
The abandoned bill had been the second since Ruto came to power in 2022.
The Ruto-led government had first introduced a contentious housing tax, doubled value-added tax on fuel and hiked the rate for the top salary-tax band to 35 percent.
Ruto’s administration has been under pressure to shore up tax collection and slash borrowing under a $3.6 billion funding program agreed with the International Monetary Fund to address Kenya’s debt vulnerabilities.
At about 70 percent of gross domestic product, its debt is considered at high risk of distress.
The Treasury had to revise its budget to accommodate the drop in expected revenue after it abandoned the new proposals, thereby widening its fiscal deficit to 4.2 percent of gross domestic product from an initial 3.3 percent.
“It would be wrong and an insult to the people of Kenya to reintroduce the finance bill,” Mbadi said. “But there are provisions in that bill that would have helped the country to grow.”
Measures under consideration include extending a tax amnesty and plugging leakages through “fictitious” value-added tax refunds, Mbadi said.
About 65 percent of the Kenya’s 525 billion shillings of tax expenditure was in refunds, he said. Some critical commodities that have a direct impact on the cost of living will be tax-exempt, rather than zero-rated, Mbadi said.
Zero-rated goods are not taxed at the point of sale but producers can claim VAT on inputs, while makers of exempt goods can’t demand such refunds. https://businessday.ng/news/article/kenya-set-to-revive-some-tax-measures-in-the-scrapped-finance-bill/
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Business › Why CBN Endorsed Providus Bank Takeover Of Unity Bank by AnonPoet(op): 1:38pm On Aug 12, 2024 |
The Central Bank of Nigeria (CBN) has thrown its support behind Providus Bank’s acquisition of Unity Bank, a move aimed at safeguarding financial stability in northern Nigeria. Sources close to the transaction have revealed that the CBN’s decision was primarily driven by the critical role Unity Bank plays in providing banking services across the northern states, where it remains the sole banking institution in many areas. According to insiders, the amount of depositors’ funds at Unity Bank was less of a concern than the bank’s geographic significance. Unity Bank serves as a lifeline for numerous communities in the north, many of which would be left without access to essential financial services if the bank were to fail. The bank’s client base is largely comprised of farmers, and its collapse could have jeopardized both regional food security and the federal government’s agricultural initiatives. In addition to the systemic importance of Unity Bank, it was disclosed that Providus Bank’s financial strength was a key factor in the CBN’s approval of the takeover. Providus Bank has committed to injecting 80 percent of the capital required to revive Unity Bank, with an initial N75 billion already set aside for the acquisition. This infusion of capital, combined with Providus Bank’s robust management, is expected to restore Unity Bank to a sound financial state. In a broader context, the merger is seen as a strategic move to ensure the continued provision of banking services in northern Nigeria. “The central bank was clear that allowing Unity Bank to go under would result in many people being unbanked and without access to financial services,” a source familiar with the CBN’s deliberations told THISDAY. Further complicating Unity Bank’s situation was its history of non-performing loans (NPLs), many of which were inherited from the nine legacy banks that formed Unity Bank during the 2006 consolidation. Despite efforts to stabilize the bank, including an NPL sale in 2016, the bank continued to struggle with capital adequacy and liquidity. Providus Bank’s takeover is being hailed as a “game changer” for the Nigerian banking sector, not just because it saves Unity Bank but also due to the precedent it sets for future banking resolutions. Industry analysts have noted that the merger will preserve the banking franchise of Unity Bank while expanding Providus Bank’s national footprint, especially in the north. The combined entity will benefit from Unity Bank’s extensive branch network and Providus Bank’s digital banking capabilities. The CBN’s endorsement of the merger aligns with its broader objectives of maintaining financial sector stability, fostering financial inclusion, and managing systemic risks. By securing the future of Unity Bank through this acquisition, the CBN aims to prevent a loss of customer confidence and ensure continued access to banking services for millions of Nigerians. As the Nigerian banking landscape evolves, this merger between Providus and Unity Bank may well signal the beginning of a new era in the industry, marked by strategic consolidations and enhanced financial resilience. https://newsdirect.ng/revealed-why-cbn-endorsed-providus-bank-takeover-of-unity-bank/
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