₦airaland Forum

The Nigerian Electricity Regulatory Commission has released a new tariff order for May 2024, which will see a reduction in electricity rates for consumers.

NERC said this decision comes after a thorough review of the macroeconomic parameters and exchange rate appreciations.

It disclosed this in a statement signed by its management on Monday.

This is coming after the Nigeria Labour Congress and Trade Union Congress threatened to shut down their operations in the country should the federal government insist on the tariff increment.

When I Heard It, I Nearly Collapsed - Father Of Toheeb, Victim Of Lagos Fuel Station Shooting0:00 / 1:01

The PUNCH reported earlier that the federal government insisted on the tariff increment stating that the burden of electricity subsidy was too much for the government to bear. Meanwhile, the NLC threatened a shutdown.

The revised tariff order, which affects all eleven electricity distribution companies in the country, will lower the end-user tariffs for Band “A” customers from NGN225/kWh to NGN206.8/kWh. This change is expected to provide some relief to consumers who have been grappling with high energy costs.

In response to the NERC’s order, the electricity distribution companies, Abuja, Ikeja, and Ibadan Electricity Distribution Companies, among others, have begun to reduce the tariff accordingly.

The NERC has expressed its dedication to maintaining a regulatory environment that balances the interests of the consumers with the sustainability of the electricity supply industry. This tariff reduction is part of the Commission’s ongoing efforts to ensure that electricity remains affordable for Nigerians while also encouraging efficiency and improvement in service delivery by the distribution companies.

The new tariff order is a reflection of the NERC’s commitment to its tariff methodology and its responsiveness to changes in the economic landscape. It is anticipated that this move will be well-received by the public and contribute positively to the Nigerian economy.

For more information, consumers are encouraged to contact their local electricity distribution company or visit the NERC’s official website.

“The statement read, “Pursuant to the tariff methodology adopted by the Nigerian Electricity Regulatory Commission, a revised tariff order covering the month of May 2024 has been issued by the Commission to the eleven (11) electricity distribution companies.

“The Commission has considered changes in the macroeconomic parameters over the preceding month of April 2024 and especially the appreciation of exchange rates – consequently, the Commission has approved a downward review of end-user tariffs for Band “A” customers from NGN225/kWh to NGN206.8/kWh.

“The Commission reaffirms its commitment to providing a balanced and effective regulatory regime serving the needs of the Nigerian Electricity Supply Industry.”

Former President Olusegun Obasanjo has described his experience flying Air Peace from Lagos to London as pleasant.

Obasanjo made the remark during a chat with the daughter of the Chief Executive Officer, Nnenna Onyema, during his trip.

In a viral video posted by Air Peace on its social Media page on Monday, the former President was seen shaking and complimenting Nnenna over the airline’s services.

He said: “Tell your father that I went and came back and I didn’t complain.

“I went, it was pleasant. I came back, it was even more pleasant.”

The airline expressed gratitude to the former President for his patronage.

Air Peace wrote, “It was great having the former President of Nigeria, Chief Olusegun Obasanjo, on our Lagos-London and London-Lagos flights recently. He said, “I went, it was pleasant. I came back, it was even more pleasant.’ Thank you for flying with us, Your Excellency.”

In November, Air Peace’s Chairman and CEO, Allen Onyema, announced that the airline had successfully obtained the Foreign Carrier Operator Permit and Third Country Operator Permit.

In February 2024, the Nigerian airline disclosed plans to begin direct flight operations to London on March 30.

Deputy Speaker, Benjamin Kalu has said President Bola Tinubu is not to blame for the present economic crisis in Nigeria.

Kalu made this statement on Sunday after he feted orphans, widows, PWDs and the aged at his home in Abia State to celebrate his 53rd birthday.

The Deputy Speaker responded to questions from reporters, explaining that Tinubu is making a lot of effort to correct the mistakes of the past administrations, which led to the present economic problems.

“The hardship we are passing through was not caused by this man. It’s a piled-up case of previous administrations and how they mismanaged one or two things.

“We cannot continue to live in lies thinking that all is well. Tinubu wants to clean up the place so that we can have a sustainable livelihood. Let’s keep supporting and encouraging him,” Kalu said.

He also foresaw a better future for the nation following the present unrest, urging Nigerians to maintain faith in the nation’s current leadership instead of giving up.

The Deputy Speaker claimed that hoarding wealth or living in luxury while others were impoverished amounted to cruelty.

According to him: “What is the essence of keeping things in the warehouse when there is hunger in the land? What is the essence of keeping things until the election periods?

“I’m not interested in the political party or faith. I’m interested in the colour of humanity which is: if you are up, extend your hands to those who are down.

“Let’s spread love, peace and unity, showing others that we care irrespective of their background or political affiliation.”

The Federal Government has vowed to flush out persons working with fake certificates in both public and private organisations.

Minister of Education, Prof. Tahir Mamman, stated this while speaking in Abuja on Friday when he received the report of an Inter-Ministerial Investigative Committee on Degree Certificate Milling from the chairman of the committee, Prof. Jubrila Amin.

It would be recalled that the Minister, on January 9, 2024, inaugurated an Inter-Ministerial Committee to examine the veracity of allegations of degrees racketeering within both foreign and local private universities.

The committee was mandated to review the role of any MDA or its officials in facilitation of the recognition and procurement of fake certificates in question.

Prof. Mamman, who expressed sadness over what has been uncovered during the investigations, said that the ministry would work with relevant agencies to sanitise the education sector and rid it of any fake tendency.

“We can’t afford to have the integrity of our education soiled by some few persons.

“It is possible that some are carrying fake certificates in public and private organisations who need to be flushed out. This report is a product of a thorough investigation.

“It is sad that someone who should come out from a Nigerian institution with a 2:1 or 2:2 is now parading an international certificate of first-class.

“The ministry is determined to take steps to sanitise the system,” he said.

Presenting the report, chairman of the Inter-ministerial Committee, Prof. Amin, decried the horrible standards of education in the affected schools, saying that many of those schools awarding degree certificates were an eyesore.

Amin said the problems at hand required speedy intervention, recommending that all agencies in the education sector must digitise/automate their systems.

He said that automating the entire education system was a way to go in such a way that you could sit in your office and monitor what is happening in all tertiary institutions.

According to him, “in the course of our investigation, we realised that the present programme of accreditation and evaluation of results is inadequate.”

He, therefore, called for more universities in the country, saying that more universities to train PhD holders would help a lot rather than Nigerians going outside in search of certificates while ending up getting fake ones.

He also urged the National Universities Commission (NUC) to pay more attention to institutions offering part-time or sandwich programmes, “so we don’t have a repeat of 2017 saga of centres offering unaccredited courses.”

The Nigerian Electricity Regulatory Commission (NERC) has unbundled the Transmission Company of Nigeria (TCN) with the establishment of the Nigerian Independent System Operator of Nigeria Limited (NISO).

NERC made this known in an Order dated April 30, 2023 and jointly signed by NERC chairman, Sanusi Garba, and vice chairman, Musiliu Oseni.

By this order, TCN is expected to transfer all market and system operation functions to the new company.

The commission had previously issued transmission service provider (TSP) and system operations (SO) licences to TCN, in accordance with the Electric Power Sector Reform Act.

However, the Electricity Act 2023, which came into effect on June 9, provided clearer guidelines for the incorporation and licensing of the independent system operator (ISO), as well as the transfer of assets and liabilities of TCN’s portion of the ISO.

Therefore, in the circular, the commission ordered the Bureau of Public Enterprises (BPE) to incorporate, unfailingly on May 31, a private company limited by shares under the Companies and Allied Matters Act (CAMA), 2020.

The company, NERC said, is expected “to carry out the market and system operation functions stipulated in the Electricity Act and the terms and conditions of the system operation licence issued to TCN.

“The name of the company shall, subject to availability at Corporate Affairs Commission, be the Nigerian Independent System Operator of Nigeria Limited (“NISO”),” NERC said.

Citing the object clause of the NISO’s memorandum of association (MOU) as provided in the Electricity Act, NERC said the company shall “hold and manage all assets and liabilities pertaining to market and system operation on behalf of market participants and consumer groups or such stakeholders as the Commission may specify.”

The new ISO, the commission said, will also be responsible for negotiating and entering into a contract for the procurement of ancillary services with independent power producers and successor generation licensees.

Also, it will generally carry out market and system operations functions as specified under the Electricity Act and the terms of its licence in the interest of market participants and system users.

NERC said the company is expected to carry out all market and system operation-related contractual rights and obligations handed over by TCN.

As Nigerians battle fuel scarcity, over 9,000 oil marketers are on the verge of losing their operating licences.

As a result, the Independent Petroleum Marketers Association of Nigeria is urging the Nigerian National Petroleum Company Limited to extend its final deadline for licensing renewal to July.

It also appealed to the Nigerian Midstream and Downstream Regulatory Authority to release 9,000 already processed licences to its members.

The association made the request known in a release signed by the National Public Relations Officer, Chief Chinedu Ukadike, on Thursday in Abuja.

Recall that IPMAN in a statement on Sunday lamented the slow pace of marketers’ licence renewal by the NMDPRA.

The NNPCL had placed a deadline of April 15, 2024, for marketers to renew their licences or risk closure to access their customer express portals for the purchase of petroleum products from NNPC Retail Limited.

But IPMAN requested an extension, saying the extension would enable marketers to reconcile their licenses and reduce panic buying by members of the public aggravating the present scarcity of petroleum products.

The statement read, “The Independent Petroleum Marketers Association of Nigeria are abreast with current developments in the downstream sector of our petroleum industry and wish to state that the latest information reaching us from the Nigerian Midstream and Downstream Petroleum Regulatory Authority states that they have already processed more than 9,000 out of the 15,000 licenses they are expected to process for our members within this period.

“Marketers are fast-tracking the processing of their licenses to avoid the impending closure of their customer express portals for purchase of petroleum products from NNPC Retail Limited.

“We, therefore, use this opportunity to appeal to the management of the NMDPRA and NNPC Retail Limited to respectively release the processed licenses and extend the deadline for delisting of marketers from their express portals. If our request is granted, it will ease the tension of panic buying by members of the public in order not to aggravate the present scarcity of petroleum products.”

Giving further clarity in a telephone interview, Ukadike said, “The release is to appeal to the NNPCL and NMPDRA to please extend the final deadline to July so that it would enable them to reconcile the licences so that they will not be unduly shut out off the portal and that is IPMAN appeal.”

Our correspondent contacted the NMDPRA South-West Regional Coordinator, Ayo Cardoso, over the plea of the marketers.

Responding, Cardoso told The PUNCH that the NMDPRA would take a look at the request and act accordingly.

“We will look into their request,” he responded during a chat with our correspondent.

The PUNCH recalled that amid the ongoing fuel crisis, IPMAN had on Tuesday declared that it would shut down the 30,000 stations operated by IPMAN members across the country if the Federal Government failed to pay the N200bn that was being owed marketers.

IPMAN specifically said the NMDPRA had refused to clear the debt, which had continued to accrue since September 2022.

It disclosed this in a communique issued in Abuja by the Chairman of IPMAN Depot Chairmen Forum, Yahaya Alhassan, over the non-payment of marketers’ bridging claims.

Fuel scarcity lingers

In their quest to buy the currently scarce Premium Motor Spirit, commercial drivers in Abeokuta, the capital of Ogun State have started keeping vigil at fuel stations.

The Federal Government on Wednesday said it had begun a 15-day emergency fuel supply to ensure the commodity circulates across the length and breadth of the country to immediately cushion the scarcity.

The government also disclosed that vessels importing Premium Motor Spirit would continue to berth at the shore to discharge petrol to different depots, from where the product would be distributed to different filling stations.

But despite these promises, the product is yet to be available to residents as commercial drivers now keep vigil at filling stations in Abeokuta, Lagos, Oyo and others.

Commercial drivers have raised transport fares as the majority of them now patronise black marketers who sell a litre of petrol at N1,200 per litre or more.

A commercial driver, Adio Adegoke, at Slaab filling station in Abeokuta, told our correspondent that he had slept in his taxi in an attempt to buy fuel.

“I had to park my car here since 7:30 pm yesterday when my tank went empty. I slept at Divine Pax Oil and Gas filling station,” he said.

Also, a mechanic, Lekan Ade, corroborated the claims of the taxi driver stating, “I just bought it there this afternoon for one of my customers, they are still selling it as we speak at the rate of N950 per litre.”

When our correspondent visited the fuel station, aside from being written on their metre, an attendant was also seen warning motorists to go if they could not buy the product at that rate.

Another driver, Adeoluwa Onasanya, told one of our correspondents that many slept at the filling station before they could get the product.

The PUNCH observed that the persistent fuel scarcity seems to be a huge source of income for black marketers, as young boys and girls were sighted by the roadside in Lekki, Ajah and other parts of Lagos advertising fuel in jerry cans.

One of our correspondents observed that along the Egbeda-Idimu-Ikotun axis of Lagos, the black marketers sold five litres of the product for N6,000.

A young man who gave his name as Mr John said, “How many litres do you want? We sell 5 litres here for N6,000. At the fuel station, they sell a litre for N1,200, we have to bribe the fuel station to be able to get the product, I can give you any amount of litre that you want,” he boasted.

The PUNCH observed a long queue of vehicles at the NNPC filling station along the Cele Expressway which was selling at N568/litre, while the AP filling station at Barracks Bustop was selling fuel at N700/litre with a long queue of motorists scrambling to buy fuel.

As the queues refuse to ease off at the filling stations despite the promises from the government, Nigerians are worried that the fuel crisis might degenerate into loss of sources of income.

Vice-President Kashim Shettima has stated that the current administration will not blame the administration of former President Muhammadu Buhari for the challenges it encountered after taking over.

Speaking during the second Chronicle Roundtable, organised by the 21st Century Chronicle, the VP said this is the most difficult time to occupy political leadership in Nigeria due to the challenges facing the country.

He said the President Bola Ahmed Tinubu decided to take a bitter pill for the country instead of settling for a placebo.

“The president chose the option that will save the lives of the people instead of the ones that will lead to the prolong the economic death. We will not resort to put the blame on previous administration as leadership is about courage, continuity.”

“Before we took charge, the biggest elephant in the room was about fuel subsidy removal. It was an albatross round the neck of the nation for the past 20 to 30 years. We understood why our predecessor decided to remove subsidy because there were no sufficient budget for it in the fiscal year.

“A year before we took office, Nigeria’s debt service to revenue ratio had grown to 111.18 percent. It was an economic death sentence. To be plain to us, our debt service was that if you earn N100,000, you are forced to borrow an additional N11,800 to pay the debtor. How do we intend to survive this? It will be long before we become a pariah.”

He added that the subsidy has led to diversion of resources from critical sectors and laced with corruption masterminded by subsidy regime.

“We have to jettison the subsidy regime, it was a bitter pill to swallow but we had to do it.”

On the economy reforms it is carrying out, he said: “A presidential candidate in the last election, eager to mock our economic trajectory once pointed Argentina as a model to Nigeria and became an overnight market specialist. He was convinced that we have missed our way and should have adopted the ways of our friends in South America.

“Barely two weeks, we watched as Argentina’s inflation rate surged. We respect what the [/b]president is doing there but governance is not photocopying.”

He said the intervention of CBN and NSA to neutralise influential currency manipulators that have conspired to frustrate its reforms led to the saving of the Naira.

[b]“Today, I stand proud to say that our intervention has translated into desirable goals. Naira speculators were projecting that the Naira will go as far as N5,000 to the dollar. Some bought the dollar at the rate of N2,000 from banks.

Speaking earlier, the Chairman of the occasion, Dr. Shamsudeen Usman, said the government need to ensure it proves the economic situation as there are lots of people who are not wishing the country well.

Lagos State’s Commissioner for Environment and Water Resources, Tokunbo Wahab, on Wednesday said the government discovered 86 partitioned rooms, sized 10×10 and 12×10, under the Dolphin Estate Bridge, Ikoyi, on Lagos Island.

Tenants are said to be paying N250,000 per annum for the makeshift apartment under the bridge.

Wahab shared this information via a post on social media on Wednesday, along with videos.

He added that the enforcement team of Lagos State’s Ministry of Environment and Water Resources had successfully removed all structures, including a container utilised for various illegal activities, from beneath the Dolphin Estate bridge.

Sharing videos he wrote, “A total number of 86 rooms, partitioned into 10×10 and 12×10, and a container used for different illegal activities were discovered under the Dolphin Estate Bridge.

“They have all been removed by the enforcement team of the Lagos State Ministry of the Environment and Water Resources”

A Special Adviser to Governor Babajide Sanwo-Olu, Kunle Rotimi-Akodu, further confirmed the eviction of squatters from beneath the bridge towards Dolphin Estate in Ikoyi over illegal settlement and environmental violations.

Rotimi-Akodu mentioned that 23 individuals were arrested during the eviction, which was carried out by officials of the Lagos State Environmental Sanitation Corps, popularly known as KAI on Tuesday.

He wrote, “Squatters dwelling under the bridge leading from inward Dolphin Estate, Ikoyi were evicted today Tuesday, 30th of April, 2024 by officials of the Lagos State Environmental Sanitation Corps LAGESC (aka KAI).

“These people created their illegal settlement under the bridge, thereby exposing the critical infrastructure to impending destruction. 23 persons have so far been arrested and MoE/KAI will continue to monitor the place. The law will take its course.”

He also confirmed that the bridge has hitherto housed 86 rooms, partitioned into 10×10 and 12×10 with squatters paying an average rent of N250,000 per annum.

“Continuation of the removal of abode under Dolphin bridge. 11 more persons were arrested. It is important to note that wood materials were used to construct the shelters, some occupants used gas cylinders, and some had stored fuel for their generators, these are recipes for disaster,” he added.

The Federal Government has announced plans to repatriate 20,000 Nigerian refugees from the Republic of Chad and Cameroon, in the next two months.

Federal Commissioner, National Commission for Refugees, Migrants and Internally Displaced Persons, Aliyu Tijani, stated this after a meeting with the Tripatite Working Group (TWG) and the United Nations Human Rights Council (UNHCR), yesterday in Abuja.

“We are looking at 3,000 households from Chad that is about 6,000 people to be repatriated from Chad.

“In the case of Cameroon the number we have is about 14,000 people. However, we will not force anybody to return to this country.

“Arrangements are ongoing to profile those willing to return. The time frame is within the next two months,” he said.

Tijani, however, did not disclose the cost implications, but noted that the government would do everything possible to ensure the safe return of Nigerians.

He said: “We are yet to determine the cost implications for the repatriation of our people in Cameroon and Chad. We have sent a memo to that effect. By the time we get the total bill, I think the government of the federation will intervene.

“I want to tell you that the government of Nigeria will do everything possible to ensure that money is provided for this.

“They have done that before I am sure they will continue to do that. Do not forget that in 2022 about 5,000 Nigerians were repatriated from Cameroon.”

He explained that most of returnees left the country because of 2022 flood that ravaged the country and the crisis between herders and farmers.

“Don’t forget that in 2022, we had a very serious flood and many of our people left this country. Some fled to Chad.

“Some left to Cameroon, including the crisis between herders and farmers, are contributing factors. The number is not too much to think that they cannot leave this country,” he said.

On this issue of rehabilitation, where the returnees would be camped and the support system by the government, he said” Repatriation is ongoing in Banki and in Baga in Borno State, and the construction of houses.

“We are making arrangements, liaising with the government of Borno State, to ensure that most of those that will be returning will be taken to skill acquisition centres.

“Borno State has a very magnificent skills acquisition centres waiting for the returnees.

“As they return we will give them some training, then we will give them start-up packs. Government will not continue to be fending for them for life. We will have to provide a durable solution and the durable solution is the shelter, start-up packs for them.”

UNHCR Deputy Representative (Protection), Bernadette Mutakale Muteshi, on her part, said the international organisation, would provide counseling for them.

Muteshi said: “We will offer them with documentations to state their profile and any special arrangements that need to be made.

“After that, we will provide them with information both general and private as will as counseling. And together with the two governments, we will discuss about the legal framework and the arrangements they are coming back to meet. We will also work with both governments to arrange the logistics.”

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The Federal Government has announced free passenger train ride for four days on the rehabilitated Port Harcourt to Aba railway.

The Permanent Secretary, Ministry of Transport, Oloruntola Oluremi, said the free train ride would be from the 1-4 May.

“There will be free train ride between Port-Harcourt and Aba on the 1st, 2nd, 3rd and 4th of May 2024.

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“The train will be departing Port-Harcourt everyday by 8am for Aba. It will also be departing Aba every day for Port -Harcourt by 3pm. Full commercial operations resume on Tuesday 7th May 2024,” the statement reads.

Details Shortly...

Edo North Senator, Adams Oshiomhole has accused Governor Usman Ododo of Kogi State of using his immunity to cover his predecessor, Yahaya Bello.

He said Ododo wrongly used his immunity by prevent the Economic and Financial Crimes Commission, EFCC, from arresting Bello.

EFCC had accused Bello of money laundering and corruption to the tune of N80.2 billion.

As part of its ongoing investigation, the anti-graft agency had stormed Bello’s residence in Abuja, in an attempt to arrest him.

But Ododo subsequently arrived at Bello’s residence and prevented the anti-graft agency from picking his former boss.

EFCC later declared Bello’s whereabouts unknown while placing him on a watchlist.

Amid the drama, the Kogi High Court ruled against the EFCC’s attempt to arrest Bello in a fundamental rights enforcement suit.

However, Oshiomhole said Ododo’s “rescue” of Bello and the former governor’s refusal to show up in court, constitutes a breach of the law.

Oshiomhole spoke at the ‘Revisiting the national question: Nigeria’s elusive search for national integration’ international conference organised by the Kukah Centre.

He said: “If you are afraid, given the fact that you are very vocal, you are independent, you cannot be dismissed, you cannot be promoted or demoted.

“If you are afraid to mention the name of a former governor who breached the law and a sitting governor who used his immunity to cover a governor that lost immunity, where will the courage come from?

“This sophistry of saying we can name the child of a poor man who steal(s) a goat but we are afraid to mention the name of a big man who breached the law, that for me is at the root of our problems.”

President Bola Tinubu says his administration is investing in technology to ensure transparency and government accountability as he holds a meeting with Microsoft founder Bill Gates on how to ensure easy collection of taxes in Nigeria.

Mr Tinubu said this would also accelerate public-sector performance and service delivery to the Nigerian people. He stated this during a meeting with Mr Gates on Sunday on the sidelines of the World Economic Forum Special Meeting in Riyadh, Saudi Arabia.

The president said technology was a potent weapon against corruption and financial impropriety in public service. He expressed his unwavering commitment to delivering reliable technology to support a national consumer credit system and other new critical government interventions for Nigerians.

Mr Tinubu said resistance was often expected when efforts were made to strengthen systems and forestall malfeasance.

“Technology is the enemy of fraud, corruption, and irregularity. We have been working hard on improving technology. There is always the initial resistance. Corruption, self-interest, and fraudulent activity will always be an enemy, but when you bend that curve, you will receive the benefit,” Mr Tinubu said.

Recounting how he deployed technology to enhance Lagos’ revenue base as governor, Mr Tinubu said he ensured the collection and use of essential data, creating an efficient tax system for the state.

“When I was governor of Lagos State, I faced challenges. I started with N600 million and ended up with over N8 billion. And right now, they are targeting a trillion naira with the use of technology in the state. There is no other shortcut. We must invest in technology. We must focus, be diligent, and work hard,” the president said.

In his remarks, Mr Gates informed the president of a one-identity technological platform that could integrate variegated data while explaining the centrality of data harmonisation to planning, security and tax efficiency.

“We are working with Mr Wale Edun, the Coordinating Minister of the Economy and Minister of Finance, on digitisation. Before you came into office, there were a few things attempted in identity management. But they have been very scattered. There have been multiple identification systems.

“Now, there is a plan to take that technology called MOSIP and use it for this identification platform so that people can get digital benefits. We are providing support for that, and we can provide more support,” he said.

According to him, MOSIP ID helps with payment efficiency and bank accounts; eventually, when everyone uses that, it makes tax collection easier.

The Microsoft founder said, “That benefit will take a few years. However, there will be more bank accounts, more financial inclusion, and effective government payment programmes.”

Mr Gates believes that Nigeria has the capacity to manage this system and related-technological systems as the nation brims with talented youths.

“The last time I went to the Microsoft office in Lagos, I saw the amazing work that they were doing and how they were growing their operations. So, you have a lot of Nigerian talents to manage these systems,” he said.

Mr Gates also discussed some high-yield seeds and a variety of crops that have the potential to improve productivity and nutrition in all regions of the country.

He said countries like the United States and Brazil had been using these seeds and had been tested and certified as safe.

“There is no safety issue with these seeds. Supporting the minister of agriculture’s effort in this regard is something that we feel is important and worth supporting,” Mr Gates stated.

The Commissioner for the Lagos State Ministry of Basic and Secondary Education, Tolani Alli-Balogun, has said the state government will be paying N1.5bn to register 58,000 students for the 2024 West African Senior School Certificate Examination for this year.

The commissioner said this on Thursday while reporting the activities of the ministry in commemoration of the first year of Governor Babajide Sanwo-Olu in office for the second term of his administration.

Sanwo-Olu took the oath of office for his second term as governor on May 29, 2023, promising in his inaugural speech not to let down Lagosians.

The commissioner, who spoke at the state secretariat, said, “The administration of Babajide Sanwo-Olu has never defaulted on the payment of WASCCE fees of all public school SS3 students in the four years of Governor Sanwo-Olus’s first term in office. The state government paid over N4.2bn between 2020 and 2023 to keep our promise of full payment of the West African Senior School Certificate Examination fees.

“In the current school year (2024), the governor has approved the sum of N1,571,076,000 as registration fees and other cost for 58,188 SS3 students writing the West African Senior School Certificate Examination.”

Last year, the West African Examination Council, which conducts WASSCE, noted that it had concluded plans to begin computer-based examinations in 2024.

It released the results of the first-ever CBT exam, 2024–First Series, in March this year.

The analysis of candidates’ performance showed that out of the 8,139 candidates that sat the examination, 3,424 candidates representing 42.07 per cent obtained credit and above in a minimum of five subjects (with or without English Language and/or Mathematics).

President Bola Tinubu has said bilateral partnerships must be mutually beneficial, transformative, and must translate into real gains for ordinary citizens.

Speaking at the Nigeria-Netherlands Business and Investment Forum in The Hague, on Thursday, President Tinubu in a statement by presidential spokesman, Ajuri Ngelale emphasised the pivotality of stronger ties between Nigeria and the Netherlands.

Tinubu said both countries must explore more creative channels of collaboration through partnerships, joint ventures, or strategic alliances in order to build bridges that connect markets and facilitate the flow of goods, services, ideas and peoples.

He said his administration is enhancing the business environment in Nigeria to make it very friendly through various reforms.

He noted these measures to include cleaning up of foreign exchange market to make it more transparent for seamless business transactions, removal of the fuel subsidy, and the readiness of the Central Bank of Nigeria (CBN) to provide necessary window to allow foreign companies repatriate their profits, among others.

President Tinubu said the improved business milieu in Nigeria is making the country an investor’s paradise, urging businessmen and women to take advantage of these opportunities for mutually rewarding economic partnerships between Nigeria and the Netherlands.

“I am delighted and honoured to be at this occasion of the Nigeria-Netherlands Business Forum. This is a platform that symbolises the potential for collaboration and partnership between our two nations.

“It is worthy to note that while this forum seeks to highlight and advance the potential of mutually beneficial partnerships, I wish to state here that we must also ensure that the partnerships are creative and transformative in such a manner that the ordinary citizens of our countries can reap verifiable gains.

“It is on record that Nigeria and the Netherlands have established business ties for decades. There is every need to re-invigorate this relationship. This is a call for creativity on the part of all of us,” the President said.

Noting the long history of diplomatic relations between Nigeria and the Netherlands, President Tinubu called for the forging of even stronger bonds, not just in diplomacy but in commerce, innovation, and enterprise.

“Our countries possess unique strengths and resources. It is through collaboration that we can harness these strengths, unlock new opportunities, and drive economic development.

“Together, we have the potential to create synergies that will benefit our present and future generations. We must endeavour to replicate the success stories of various Dutch companies and enterprises by learning and sharing their experiences and approaches for the benefit of all.

“As the world braces up for today’s economic challenges, which in many ways affect our two countries, a creative approach to the search for investment-minded solutions will prove to be the most viable path to the level of sustainable development that we all desire.


“In line with the above vision, I believe that we must endeavour to push this narrative into our daily business activities and to move toward industrial value addition, agribusiness, innovative technology, green energy, marine economic expansion, as well as solid mineral exploitation and processing,” the President said.

Rounding off his remarks, President Tinubu emphasised that relations between Nigeria and the Netherlands will henceforth set a new tone and foundation for stronger economic ties between both countries.

“As we engage in discussions and negotiations today, let us do so with a spirit of openness, trust, and mutual respect. Let us listen to one another, learn from each other, and find common ground that will allow us to move forward together in pursuit of our shared prosperity,” the President concluded.

The Nigerian Civil Aviation Authority has suspended the Air Operators Certificate of Dana Air.

This came barely 24 hours after Dana Air plane coming from Abuja landed at the Lagos airport runway and veered off into a nearby field.

Dana Air plane with registration number 5N BKI, had 83 passengers onboard. However, all the passengers and crew members disembarked unhurt.

Emergency responders and regulatory agencies immediately rose to the occasion and opened an investigation to unravel the real course of the incident.

While the outcome of the investigation by the Nigerian Safety and Investigation Bureau is being awaited, NCAA said it was important to audit the operations of the carrier.

NCAA in a letter with the ref no: NCAA/DGCA/DANA/1/24/001, and signed by the Acting Director NCAA, Chris Najomo, said the AOC of the airline had been suspended.

While awaiting the investigation report from the Nigeria Safety Investigation Bureau, NCAA said it had initiated an in-house compliance assessment of the occurrence taking into account Dana’s track records in related occurrences.

The NCAA letter read in part, “As a precautionary step, and in accordance with Sec 31 (7) of the Civil Aviation Act 2022, the Authority has imposed a suspension on your Air Operator Certificate (AOC) with effect from 24th April, 2024 at 23:59 to allow for a thorough safety and economic audit.

The safety audit will entail a re-inspection of your organisation, procedures, personnel and aircraft as specified by Part 1.3.3.3 of the Nigeria Civil Aviation Regulations, while the economic audit will critically examine the financial health of your airline to guarantee its capability to sustain safe flight operations,” NCAA insists.

Meanwhile, the Minister of Aviation and Aerospace Development, Festus Keyamo, had expressed displeasure with the incident involving a Dana aircraft.

This was contained in a letter by the Ministry of Aviation and Aerospace Development, and addressed to the Nigeria Civil Aviation Authority.

The letter which was signed by the Permanent Secretary of the Ministry Dr. Emmanuel Meribole, was obtained by the PUNCH on Wednesday.

In the letter to NCAA, the permanent secretary said the incident had raised serious concerns regarding both the safety and financial viability of Dana operations.

He added that, “As the supervisor overseeing our nation’s aviation safety and regulatory compliance, it has come to the Honourable Minister’s attention that recent incidents involving Dana Airline.

“In light of these incidents and with the paramount priority being the safety and well-being of our citizens and travellers, the Honourable Minister has directed that you immediately initiate the suspension of Dana Airline’s fleet until a comprehensive audit can be conducted. This audit should encompass all aspects of safety protocols, maintenance procedures, and financial health to ensure full compliance with our aviation regulations.

“The recent incidents have underscored the urgency of this matter, and it is imperative that swift and decisive action be taken to safeguard the interests of all stakeholders involved. I trust in your expertise and diligence in carrying out this audit thoroughly and expeditiously. Please keep me informed of the progress and any significant findings throughout this process,” Meribole stated.

The owner of the Abuja-based Chinese supermarket sealed for not allowing Nigerians to shop at the facility, Liu Bei, has appeared before a tribunal at the Federal Competition and Consumer Protection Commission.

Our correspondent gathered that Liu Bei, in the company of her family and estate officials, arrived at the commission headquarters located in Asokoro, Abuja on Wednesday at 11 am to defend discriminatory claims against her.

The latest development followed a summons notice and threat of sanctions by the FCCPC on Monday after it sealed her store.

PUNCH Online reported on Sunday that the supermarket had implemented a policy restricting entry solely to Chinese nationals, excluding Nigerians from patronising the establishment.

This report sparked widespread condemnation as Nigerians voiced their concerns over the discriminatory treatment.

But the supermarket owner, in a statement sent to PUNCH Online, refuted allegations that her store catered exclusively to a particular group, emphasising that she served residents, workers, and visitors from the office building, irrespective of nationality.

Giving an update, the estate assistant facility manager, Sanusi Shuaibu, in a telephone chat with our correspondent declared that the issue has been resolved and officials of the commission have unsealed the grocery store.

He said, “Yes, we went to the commission today and all the issues have been resolved. The owner of the supermarket was also present at the meeting with the officials. The owner tried to explain the situation and they allowed everyone involved to explain what really happened.

“They also asked us to submit some documents which we did and they also asked her (the owner) some questions. After the meeting, we left the commission and they came to unseal the supermarket.

“They also checked the products in the store and we provided answers to all the questions asked. The store is now open and the woman has returned to her shop.”

An official who works at the FCCPC also confirmed to our correspondent that the supermarket owner appeared at the meeting.

“I saw some persons including the Chinese woman, at our office earlier today and a few hours later, our enforcement officers left the premises but I don’t know if they went to unseal the place or not.”

The Economic and Financial Crimes Commission (EFCC) has served former Kogi State Governor Yahaya Bello with charges over alleged N80.2 billion.

EFCC said the charges were served to Bello through his counsel, Abdulwahab Muhammad (SAN) after Justice Emeka Nwite of the Federal High Court, Maitama, Abuja ruled that he should be served through his counsel.

The judge ruled following Bello’s refusal to appear in Court.

However, a statement by EFCC’s Head, Media and Publicity of the Commission, Dele Oyewole reads: “The Economic and Financial Crimes Commission, EFCC is prosecuting Yahaya Bello alongside Ali Bello, Dauda Suleiman and Abdulsalam Hudu on 19-count charges bordering on money laundering to the tune of N80, 246, 470,089.88k (Eighty Billion, Two Hundred and Forty-six Million, Four Hundred and Seventy Thousand and Eighty-nine Naira, Eighty-eighty Kobo).”

During Tuesday’s sitting, Bello’s counsel, Adeola Adedipe (SAN), prayed the court to quash the arrest warrant granted by the Commission against Bello, arguing that Tuesday’s substituted service to the defendant through his counsel, Abdulwahab Muhammad (SAN) has invalidated the arrest warrant.

The counsel said, “The court is expected to do justice at all times. A warrant of arrest cannot be hanging on Bello’s neck when we are in this court. It appears to us that the defendant will not get justice because the court granted a warrant of arrest before service.

However, prosecution counsel, Kemi Piniero (SAN), in response, urged the court to decline hearing on any motion from Bello’s legal team until the defendant is physically present in court for his arraignment.

“The stage we are in now is to determine the whereabouts of the defendant. He cannot be in his house while the trial proceeds without him coming here to take his plea. My Lord, this is a criminal matter, not a civil matter, he must come and take his plea. It is a matter of over N80 billion. All these applications by the defendant are to prevent his arraignment and frustrate the commencement of trial,” he said.

After hearing both counsels, Justice Nwite adjourned ruling on the defence’s application, seeking a revocation of the arrest warrant on Bello till May 10, 2024.

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The Economic and Financial Crimes Commission has filed a fresh charge at the High Court of the Federal Capital Territory against the embattled former governor of the Central Bank of Nigeria, Godwin Emefiele.

EFCC in the charge accused Emefiele of approving the printing of N684,590,000 at the rate of N18.96 billion.

In the charge sheets sighted by PUNCH Online on Tuesday, EFCC alleged that Emefiele broke the law with intent to harm the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari.

The anti-graft agency also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

The document dated April 2, 2024, and marked Suit No: CR/264/2024, was filed by EFCC’s top prosecutor, Rotimi Oyedepo, SAN revealed that Emefiele will be arraigned on a new four-count charge before Justice Hamza Muazu bordering on disobeying the law to punish Nigerians, iilegal printing of money, abuse of office, among others.

Counts one to four of the charge, read, “STATEMENT OF OFFENCE: Public Servant disobeying direction of law with intent to cause injury to the public contrary to and punishable under Section 123 of the Penal Code Law, Cap. 89 Laws of the Federation, 1990.

“PARTICULARS OF THE OFFENCE: That you GODWIN IFEANYI EMEFIELE between the 19th day of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by approving the printing of N375,520,000.00 pieces of colour swapped N1, 000, at the total cost of N11,052, 068,062 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.”

“COUNT 2: “That you, GODWIN IFEANYI EMEFIELE, between the 19th of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the Central Bank of Nigeria Act, 2007, by approving the printing of 172,000,000 pieces of colour swapped N500 (Five Hundred Naira) Notes, at the total cost of N4, 471,066,040 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.

“COUNT 3: “That you GODWIN IFEANYI EMEFIELE between the 19th day of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by approving the printing of 137,070,000 pieces of colour swapped N200 (Two Hundred Naira) Note, at the total cost of N3, 441, 005, 280 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.”

“COUNT 4: “That you, GODWIN IFEANYI EMEFIELE, on or about the 7th day of October 2020, in Abuja, within the jurisdiction of this Honorable Court, knowingly disobeyed the direction of Section 80 of the Constitution of the Federal Republic of Nigeria, 1999 (As Amended), by approving the withdrawal of the total sum of N124, 860, 227, 865.16 from the Consolidated Revenue Fund of the Federation in a manner not prescribed by the National Assembly, which conduct of yours caused injury to the public and you thereby committed an offence.”

Recall that Emefiele was on November 18, 2023, arraigned before the court on six counts of procurement fraud, in what is the most high-profile corruption case under President Bola Ahmed Tinubu.

He was also accused of abusing his office by approving a contract for the acquisition of 43 vehicles totalling N1.2 billion from 2018 to 2020.

On Monday, April 8, 2024, the EFCC arraigned the former banker alongside one Henry Omoile before Justice R.A. Oshodi of the Special Offences Court sitting in Ikeja, Lagos for an alleged $4.5bn and N2.8bn fraud.

Vice President Kashim Shettima on Tuesday stressed that Nigeria’s future readiness hinges not just on food abundance but on the nourishing quality of its food supply.

This is as he unveiled an ambitious plan to improve nutrition across Nigeria, with a rallying call to faith and traditional leaders to champion the effort in their communities.

The vice president spoke at a high-level dialogue on nutrition at the Presidential Villa, Abuja.

The one-day dialogue with the theme, “Faith Leaders as Catalysts for Enhanced Human Capital Through Nutrition,” was organized by the National Council on Nutrition and the World Bank-assisted Accelerating Nutrition Results in Nigeria [ANRiN] Project.

Shettima said: “We must proclaim to the world that our commitment to producing food of unparalleled richness is not rhetoric,” Shettima declared, noting that “this gathering is a solemn pledge to safeguard our well-being and preserve the legacy of generations yet to come.”

He appealed directly to the religious and traditional figures in attendance, calling them “prime cultural influencers” and a “gateway to a Nigeria defined by mutual understanding, peace, unity and social cohesion.”

The vice president restated President Bola Tinubu’s commitment to prioritizing nutrition as part of Nigeria’s food security drive.

He added: “President Bola Ahmed Tinubu has demonstrated his commitment to prioritizing nutrition as an integral component of our quest for food sufficiency. This is our inspiration to implement quality, cost-effective nutrition services.

“From providing support to pregnant and lactating women to ensuring the well-being of adolescent girls and children under five years of age, President Tinubu’s vision has propelled us towards a future where every Nigerian has access to the nourishment they need to thrive.”

Shettima pointed to initiatives like the Accelerating Nutrition Results in Nigeria (ANRiN) programme as vital efforts to scale up nutrition interventions nationwide.

He however stressed that the government cannot succeed alone, saying, “We depend on the support and guidance of those who wield influence within our communities to drive this change.”

The vice president urged faith and traditional leaders to champion proper nutrition practices in their spheres, integrating nutrition education into places of worship and cultural gatherings.

Continuing, he noted: “Your influence is indispensable. We believe that, regardless of the quality of ideas we bring to the table, our efforts will fall short without your participation and endorsement.

“This is an avenue to reassure you that we are committed to more than just talk; we will take tangible action by reaching out to vulnerable and disadvantaged groups, including pregnant women, children, and the elderly.”

Shettima thanked federal ministries and partners like the World Bank for supporting the nutrition drive in Nigeria, adding that “together, let us stand as beacons of hope, leading the charge towards a healthier and more prosperous tomorrow for all.”

Earlier, the Minister of Budget and Economic Planning, Senator Atiku Bagudu, said malnutrition and related challenges have over the years negatively impacted human capital development, requiring accelerated interventions.

He said the efforts and interventions of the National Economic Council chaired by the Vice President and the engagement with faith-based leaders, among other initiatives, are testimonies that Nigeria has the institutional mechanism to combat hunger and malnutrition with its associated challenges.

Also speaking, Coordinating Minister of Health and Social Welfare, Prof. Muhammad Pate, said the engagement with faith-based leaders was not just a dialogue but a clarion call for action to address one of society’s most disturbing challenges.

He called on religious and traditional leaders in the country to leverage their network and influence in society to support the government in combating hunger and malnutrition, describing faith-based leaders as the backbone of their communities, hence their importance in improving the nutritional outcomes in their various domains.

In their separate remarks, the Sultan of Sokoto, His Eminence, Muhammadu Sa’ad Abubakar III, and the President of the Christian Association of Nigeria (CAN), the Most Rev. Daniel Okoh, pledged the commitment of their communities and congregations to the efforts to combat hunger and malnutrition in the country, stating that their presence at the event underscored their loyalty to the campaign.

While advocating attitudinal change by communities and individuals, the faith leaders assured that campaign messages for improving nutritional outcomes in families and communities will be integrated into messages in the different places of worship, all in the bid to accelerate the fight against hunger and malnutrition.

In a goodwill message on behalf of the Nutrition Society of Nigeria, the 14th Emir of Kano and Chair of the Council, His Highness, Khalifa Muhammad Sanusi II, highlighted some of the negative indices of malnutrition and its related issues across the country, advocating a change in attitude and strategies by all stakeholders.

He said providing for the nutritional needs of children and pregnant women has religious implications and must be viewed as a right owed to the child and his or her mother.

Other speakers at the occasion included the Minister of Information and National Orientation, Alhaji Mohammed Idris; out-going World Bank Country Director, Mr Shubham Chaudhri; Managing Director of the Aliko Dangote Foundation, Zouera Youssoufou, and the Chief Imam of the Abubakar Tafawa Balewa University, Bauchi, Prof. Mansur Yelwa, among others.

The high point of the occasion was the vice president launching two manuals – the Accelerating Nutrition Results in Nigeria (ANRiN) Sermon Guides and Faith Perspectives on Nutrition.

The Federal Competition and Consumer and Protection Commission (FCCPC), on Monday, sealed up an Abuja-based Chinese supermarket located at the China General Chamber of Commerce.

The FCCPC officials had shut the supermarket after a visit on Monday.

The commission’s officials sealed up the place after interrogating Nigerian workers at the supermarket.

On Sunday, Nigerians on social media had raised alarm over a discriminatory policy implemented by the Chinese Supermarket which restricted entry exclusively to its citizens and barred Nigerians.

Confirming the allegation, the facility manager of the complex, Shaibu Sanusi said that only Nigerians within can access the supermarket.

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Former presidential candidate of the Labour Party, LP, Mr Peter Obi, has expressed concern about the Lagos-Calabar Super highway Project.

Obi said there is pressing issue of numerous uncompleted roads scattered across the country, many of which, according to him, have become hazardous death traps and security risks.

He maintained that embarking on another huge project that will not be completed in the next 20 or 30 years will only worsen the problem of abandoned, uncompleted projects that are not contributing to economic growth and overall development.

The presidential candidate suggested that given the state of the nation’s economy, prioritization and fiscal discipline should be the critical guiding principles, insisting that the project will worsen the already sagging debt burden.

In a statement on his X handle on Monday, the former Anambra State governor said most of those uncompleted roads have been under construction for several years and are unlikely to be completed any time soon due to poor and unplanned funding.

He said: “I have closely followed the comments and developments arising from the coastal (Lagos-Calabar) Super highway Project.

“While I’m hesitant to engage in contentious debates about its benefits, which I acknowledge, and the pricing, which I have serious concerns about, and believe should be thoroughly reviewed, I am compelled to raise essential questions about the timing and prioritization of such a monumental venture.

“At the forefront of my concerns is the pressing issue of numerous uncompleted roads scattered across the country, many of which have become hazardous death traps and security risks.

“It is disheartening to witness the plight of innocent Nigerians who traverse these dilapidated roads under perilous conditions, vulnerable to kidnappers and other dangers.

“Most of these roads, vital for economic growth, regional connectivity, and overall development, have been under construction for several years if not decades now and are unlikely to be completed any time soon due to poor and unplanned funding.

“The Federal Ministry of Works 2024 capital budget of N892,461,262,656.00, additional funding from multilateral loan projects of N94,828,535,243.00, alongside other expected contributions from sources like the China-Exim Bank and the World Bank, will not be enough for serious work on all the critical roads, some of which I enumerated above, let alone their completion.

“So, why embark on another huge project that will not be completed in the next 20 or 30 years? To do so will only exacerbate the problem of abandoned, uncompleted projects that are not contributing to economic growth and overall development.

“It will merely worsen our already sagging debt burden. Given the state of our economy now, prioritization and fiscal discipline should be our critical guiding principles now.

“Therefore, while acknowledging the potential benefits of coastal superhighway infrastructure, I urge prioritization of our existing uncompleted projects.

“We must allocate resources towards repairing and completing existing infrastructure, crucial for the well-being and safety of our society, before embarking on new projects, no matter their perceived benefits.

“Let’s prioritize the urgent needs of our people and ensure that our investments serve the collective good of the nation.

“In any development formula, the primary focus should be on completing and rehabilitating existing infrastructure rather than embarking on colossal new projects that may never reach completion within the next 30 years.”

The family of the late Prince Abubakar Audu, former governor of Kogi State, on Sunday denied reports of harbouring the immediate past governor of the state, Yahaya Bello.

Prince Audu’s son, Mohammed Abubakar, said their family house in Ogbonocha, Ofu Local Government Area of the state, serves solely as a private residence for family members and not a sanctuary for any political figure.

Following the disappearance of Bello, reports had it that the former governor was hiding in the family house of the Audus.

This followed the inability of the Economic and Financial Crimes Commission, EFCC, to arrest Bello during a raid at his residence in Abuja.

However, Abubakar, in a statement, said: “The attention of Prince Abubakar Audu’s family has been drawn to spurious and ridiculous rumors and publications circulating across various social media platforms, alleging that the immediate past governor of Kogi State, Alhaji Yahaya Adoza Bello, is being harboured in our family house at Ogbonocha, Ofu Local Government Area, Kogi State. We wish to inform the public that this claim is entirely false.

“We wish to emphasize that our family house at Ogbonocha serves solely as a private residence for members of the Audu family and is not a sanctuary for any political figure, past or present.

“As custodians of our family’s heritage, we uphold the principles of honesty and integrity that Prince Abubakar Audu embodied throughout his lifetime.

“We urge the public to exercise caution and discernment when encountering such sensationalist claims, recognizing them for what they are: baseless conjecture designed to sow confusion.

“The Audu family remains committed to upholding the truth and preserving the dignity of our late patriarch’s memory.”

The Economic and Financial Crimes Commission has instituted a further crackdown on currency speculators and cryptocurrency platforms manipulating the naira, Sunday PUNCH has learnt.

Impeccable sources within the commission said the EFCC was not only going after Binance but every cryptocurrency platform and others involved in the manipulation of the Nigerian foreign exchange market.

A source said, “The EFCC is going after all currency speculators to stabilise Nigerian forex.”

Another source noted, “The commission is not only going after Binance but other cryptocurrency compliance and exchanges, this has been helping in stabilising the market.”

Reacting to the development when contacted, the spokesperson for the EFCC, Dele Oyewale, said the commission was doing everything lawful to ensure sanity within the country’s forex market.

“The commission is doing everything within the ambit of the law to ensure that there’s sanity in Nigerian the foreign exchange market,” he said.

Meanwhile, some foreign exchange market analysts have stated that the dollar rose slightly against the naira between Wednesday and Friday due to interbank moves of the commercial banks.

A money market analyst, Agba Akin, had on Friday posted a snapshot of the P2P trading platform on X, saying, “Since Wednesday, the dollar has started increasing again at BDC, here is why. The emergency lovers of Binance are back speculating on other P2P apps.

“They’ll keep adding N50 every day until they take it back to 2,500 which was their initial plan, and recoup their loss. CBN, act now.”

Reacting, a BDC operator identified as Yasir Arafat Jubril@oil_shaeikh said, “The problem with speculative manipulation is even if CBN keeps bidding dollars to BDC at a low rate, the prevailing speculated rate will lord over the market and you’ll be forced to sell at that price to keep afloat. CBN must crack down on all speculative platforms.

“They don’t know anything; if we talk, they’ll say we are aboki BDC behind Nigeria’s problem. Over 40 years that BDC has been operating, we never manipulated the naira by adding 50 to N100 a day till P2P ojukokoro boys came with their lack of fear of God.”

Speaking with Sunday PUNCH, the Adhoc Committee Chairman of the Association of Bureaux De Change Operators of Nigeria, Almustapha Muhammed, said while it was true that the dollar gained during the week, the BDCs were not behind the currency gaining as it resulted from certain moves of the commercial banks.

He said, “Some people just want to put it at the BDCs. Actually what happened was that the dollar rose from the interbank rates and not from the BDCs. BDCs are parallel markets, while the banks are connected with the Federal Government’s official rate.

“CBN is giving us dollars at N1,101, but some commercial banks are doing interbank conversions. They convert from their accounts – domiciliary accounts and naira accounts. But the parallel markets are doing lower than the Federal Government.”

Speaking further, he said, “Last week, the CBN gave the dollar at N1,101, but the parallel market sold at N950. That was what even made some BDCs not bid for a collection of dollars at CBN, because when you collect that dollar from CBN, automatically you run at a loss because we sell at N950. Unfortunately for the dollar, banks are now doing their interbank.

“That was what made people rush into the parallel market and buy it (the currency) at the lower rate and then deposit it in the commercial banks, automatically making N20, N40, N60 gains, because when you deposit your dollar into your domiciliary account and ask for its conversion into naira, automatically, you are making that difference. That is exactly what happened.”

In his reaction, an economist identified as Opeoluwa on X said, “On this issue, I reached out to a source in the relevant security agency on this matter. I was reliably informed that it has been flagged as ‘imminent danger’ and it’s being looked into.

“I am told that they (the security agency) may have to extend their hands to them, just like they did to Binance.”

When our correspondent contacted the Head of Strategic Communication at the Office of the National Security Adviser, Zakari Mijinyawa, he did not pick up calls.

Vice-President Kashim Shettima says President Bola Tinubu ended petrol subsidy and multiple exchange rates in the official market because they were producing billionaires overnight.

Shettima spoke during a courtesy visit by a delegation of the Lagos Chamber of Commerce and Industry (LCCI) led by Gabriel Idahosa, president of the chamber, in Abuja on April 18.

Tinubu declared the end of petrol subsidy during his inaugural speech as president on May 29, 2024.

A month later, the Central Bank of Nigeria (CBN) unified the multiple exchange rates in the official markets.

Also, Shettima expressed optimism about the performance of the naira.

He said the naira will continue to appreciate in the foreign exchange (FX) market.

After a consecutive appreciation trend from March 20, the naira depreciated by 17.14 percent to N1,230 per dollar on April 19.

He said the naira will strengthen in the coming days.

“Naira went haywire and some people were celebrating but inwardly we were laughing at them because we knew that we have the leadership to reverse the trend,” he said.

“Asiwaju knows the game, and truly the naira is gaining and the difference will drop further.”

Meanwhile, Shettima said the present administration is making every effort to address challenges in the power sector because it is aware that power is crucial.

“We are determined to ensure that we generate jobs for our youths. Honestly, the President’s obsession is to live in a place of glory, to transform this country to a higher pedestal,” he said.

Shettima said Tinubu wants to leave a legacy, one of qualitative leadership since Nigeria represents the hope of the black man and Africa as a whole.

Alpha: “no be this same Abuja way we dey? your kpekus go suffer for nothing.”

Olaniyan said “We are calling that people should love the Nigeria Police, this is what they lack right from childhood we have created enmity between our children and the Nigeria Police.

The National Publicity Secretary of the All Progressives Congress, Felix Morka, has said it would be wrong for anybody to liken the current travail of their National Chairman, Dr Abdullahi Ganduje, to the political intrigues that led to the removal of the Adams Oshiomhole-led National Working Committee from the party secretariat.

The statement was made by the National Publicity Secretary of the All Progressives Congress, Felix Morka while responding to questions surrounding Ganduje’s suspension on Arise TV on Thursday.

Oshiomhole, a former national chairman of the party, and members of the then NWC were elected into office for four years (2018 – 2022) at a national convention in Abuja.

But the leadership of the party was dissolved two years into their tenure, an action that a former acting chairman of the APC, Ntufam Eta, claimed was taken to derail the presidential ambition of Bola Tinubu (now president).

A Federal High Court in the Federal Capital Territory had in March 2020 asked Oshiomhole to step aside following an application of interlocutory injunction seeking his removal as APC national chairman.

Justice Danlami Senchi had stated that the former Edo governor should remain suspended pending the determination of the suit.

Senchi also said it was wrong of the ruling party to have kept Oshiomhole as chairman after he was suspended by his state APC chapter in November 2019.

Reacting to the apprehension that Ganduje may be heading in the same direction, Morka insisted that the situations were different.

The APC publicity secretary said that unlike what happened in Oshiomhole’s case, those pushing for Ganduje’s suspension were not recognised members of the party.

He said, “No, it is not familiar if you understand the facts of what happened to Oshiomhole. They are incomparable. They are two different things altogether. In the case of Oshiomhole when he was the national chairman, the individuals who were involved in that effort to suspend him and take all the actions within the party were officials of the party.

“I know no one could have come out at that time to say these individuals are not legitimate officers of the party. So whether they were persuaded to do that or compromised, whether they were acting on their free will and volition is a different conversation. And I am not going to speak to that. But they were members of the party.

“In this particular case in Kano, we’re seeing people that we know are not officials of the party. The man who purportedly read the suspension was physically at the party secretary on Wednesday to say he did not participate nor authorise any lawyer to go to court to bring this action against the national chairman. So when the person that is fully disclosed by identity is the same individual saying he did not, then who the heck was the individual who went to court? That is the question.

“The difference here is that we have pure imposters announcing the suspension of our national chairman and they had gone to court to attempt to affirm that same illegal and criminal act. So I just want to make sure that that is clear that these individuals are not authorized and not acting foreign on behalf of the ward. They need to stop because when the dust settles; there will be consequences for this sort of behaviour.”

The National Security Adviser to the President, Mallam Nuhu Ribadu, on Thursday, expressed concern about what he described as the booming illegal firearms market in the North.

This was as he decried the high level of poverty in northern Nigeria, saying the North-West was worst hit.

Ribadu expressed the concerns while speaking at the convocation lecture of the Usmanu Danfodiyo University, Sokoto.

He delivered a paper titled, ‘Navigating the Maze: Addressing Multi-Dimensional Insecurity Challenges in Northern Nigeria.’

“The illegal arms market in northern Nigeria has seen a marked increase in demand and supply.

“Criminals and traffickers have developed sophisticated networks to transport illegal arms across Nigeria, deploying innovative methods to circumvent security checks,” the NSA said.

He, however, said President Bola Tinubu had made appreciable progress in the fight against banditry and terrorism.

Ribadu said, “Since assuming office, we have successfully freed over a thousand individuals, many of whom were villagers held captive for as long as two to three years.

“We have successfully secured the release of abducted students from the Federal University of Gusau and school children in Kuriga, among others.

“These results were achieved without paying any ransom. Our approach utilises evidence as the foundation of our non-kinetic strategies.

“On the kinetic front, the Nigerian military is conducting numerous operations targeting insurgent groups like Boko Haram and bandits operating in northern Nigeria,” he added.

He described the President’s job as difficult but he was determined to turn the country’s situation around.

“This role is not a tea party; it is a demanding job that requires dexterity, hard work, and consensus building across security and political structures.

“The figures we encountered in terms of both attacks and casualties in May 2023 were heartwrenching. As recently as 2022, Nigeria witnessed four major terrorism attacks: the attack on the Abuja-Kaduna train, an attack on the Guards Battalion in Abuja, the Kuje Prison attack and another at a church in Owo, Ondo State,” he said.

Expressing concern about the rising poverty in the North, the NSA said, “According to the National Bureau of Statistics, the North-West Nigeria contains some of the poorest states in the country.

“As of 2019, each northwestern state has a higher poverty rate than the national average of 40.1 per cent, with Sokoto having the highest rate in the country: 87.73 per cent of the state’s population live in poverty.

“The reports also illustrate that unemployment rates in the northern regions can exceed 20 per cent, a stark contrast to the more industrially-diverse and economically-vibrant southern regions, where unemployment rates hover around 10-15 per cent.”

Ribadu, however, said the Tinubu-led administration was working hard to change the poverty narrative.

“This agenda includes provisions for bolstering security initiatives, promoting socioeconomic development, and fostering inter-communal dialogue to address grievances and foster reconciliation.

“Through the Renewed Hope Agenda, the government aims to tackle the underlying causes of insecurity by addressing issues such as poverty, unemployment, social marginalisation and ethnic tensions,” he said.

Owing to paucity of authentic data on all aspects of the education sector in Nigeria, President Bola Tinubu has ordered the conduct of an extensive census to ascertain the fault lines and aid proper planning.

The presidential directive handed down on Thursday, is expected to produce data on all schools in Nigeria from primary to tertiary level, their present conditions and live-in facilities, proximity to one another and infrastructure.

It will also ascertain the number of teachers in the country, their qualifications, training support received, number of pupils and students in primary, secondary, and tertiary institutions, gender, and exam grades, among others.

The Federal Ministry of Education, currently under Mamman Tahir’s purview, will partly spearhead the process by hosting a portal or dashboard where the critical information will be dropped.

A statement by Special Adviser to the President on Media and Publicity noted that the policy DOTS, an acronym for Data Repository, Out-of-School Children Education, Teacher Training and Development, and Skill Development and Acquisition will comprehensively overhaul the education sector to improve learning and skill development, increase enrolment, and ensure the academic security of the nation’s children.

The presidency said the information that will be derived from the exercise will guide federal and state interventions for teachers’ training and development as well as overall support.

“It will also provide data on gender ratio (boys and girls), their specific learning needs, and who is in school or who has dropped out based on daily monitoring with year-by-year reporting.

“There will be a dedicated portal/dashboard in the Federal Ministry of Education, offices of state governors, and local government chairpersons, which will host and disseminate this information for the federal government, states, and local governments to monitor in real time.

“This new data tracking architecture will enable the government to track the progress of students, thus having a clear data-driven mechanism for interventions, especially concerning out-of-school children, [especially] girls, and those with specific learning disabilities, among others,” the presidential spokesman added.

On the challenges of out-of-school children’s education and training, the Federal Ministry of Education said it is already implementing the government’s policy through the activities of four of its agencies, with about two million beneficiaries already recorded.