Validated: Just imagine that Tinubu was a governor in Japan, where he captured a state resource for 24 years plus. Made his daughter the sole proprietor of all markets. Held a state hostage for such amount of time.
Just imagine that Tinubu was from Japan where he has no genealogy. No parental history. No primary nor secondary education history.
Just imagine that Nigeria was like Japan, where a state actor is made to commit suicide for fraud, what would have become of a family that captured a state?
Just imagine that Tinubu was in Japan where he was accused of drug trafficking charges and he entered a plea bargain and paid $460000 in foreign country.
Just imagine that Nigeria was Japan where Tinubu was accused of killing a political opponent by name Funsho William, an accusation not trully denied.
Just imagine that a Japanese politician used bullion Van's to convey money on the eve of a general election? Just imagine how he would have been celebrated with AK47 rifles.
Just imagine that Tinubu was a Japanese ... he would have been made to commit suicide. In fact his whole family would be executed publicly.
Just imagine if Tinubu was a Japanese politician who became governor of a state and use his office to build a conduit pipe from the coffers of the government Treasury to his personal company milking the entire common wealth of the people he was elected to govern,
Just imagine what could have befallen him
His dilapidated manhood upon which some of his supporters claim to be standing on would have been yanked off and fed to the wild dogs
Invictuse: Have you imagined if Peter o I was governor in sane Japan n was caught red handed looting ₦250 million cash monthly to his warehouse in Orile caught by Marvel Akpoyibo.
Stole millions of dollars into his daughter Pandora account ? The only daredevil criminal to try such n was caught red handed. Other Nigerians do steal in foreign account but no one dared to loot in their daughter's name except this dead brain Igbo fool thinking he was smart.
Anambra people need to go after the daughter n ensure she return her father's loot or stone her to death in broad daylight.
Stole to build himself malls in Abuja n PH now that he left governor office the Abuja next mall that was burnt over 3 years now the oloriburuku that it will never ever be beta for is yet to rebuild it.
The Pandora criminal n bastard Peter obi was hoping to become governor so that he can loot to repay.
The next mail in UK as been declared bankrupt after evading taxes no wonder the UK government picked up the oloriburuku. Na only God save the bastard fool from being jailed.
Imagining Peter Obi was governor in Japan n he invested millions of dollars from a state like Anambra where multitude are escaping in Ekene dilichukwu GIG Peace Agufore Ifesinachi Okeson GUO Young Shall Grow etc daily to come n slave their soul away in Tinubu Lagos governed into a brewery that is worth next to nothing.
Nobody in Anambra even know the location of the brewery again. I swear to God this bastard will be stoned to death in broad day but Anambra people too mumu that is who ipob is forcing them to now worship as messiah.
Just imagine if Tinubu was a Chinese politician who became governor of a state and use his office to build a conduit pipe from the coffers of the government Treasury to his personal company milking the entire common wealth of the people he was elected to govern,
Invictuse: Watch those bastard n cursed miserable souls come for the OP yet the same oloriburuku bastard will claim a private citizen ferrying his money in bullion van should be jailed as if other Nigerians owning bank in Nigeria do not ferry money in bullion van.
Even the Pandora criminal bastard Peter Obi they support was caught red handed by Marvel Akpoyibo looting ₦250 million monthly with his personal governor's convey.
May we know the name of the so called private citizen
He is a free man because they got absolutely nothing on him
They accused him of orchestrating the cash scarcity that accompanied the Naira redesign policy, six months since he left of office Nigerians are still being subjected to a more wicked cash scarcity era
Who are they deceiving
Of course, they can only deceive minions, Agbadorians and Bulabans
“I’ve been accused of financial misconduct during my tenure as the petroleum minister, and it’s true. However, I would like President Bola Tinubu and Nigerians to forgive me, allow me to return home, and contribute because life is transient.”
Senate President Godswill Akpabio on Friday clarified that he was exhausted and diagnosed with malaria following reports that he collapsed at his 61st birthday colloquium held Thursday in Abuja.
Akpabio was reported to have slumped after the event while seeing President Bola Tinubu off at the Transcorp Hilton Hotel in Abuja and was rushed to the hospital.
Addressing reporters on Friday at the Senate, Akpabio, who did not confirm whether he slumped or not, said he had malaria, worsened by stress.
He said, “What eventually happened after the event was a show of humanity. I went home and I called my doctors and I was assured that I have malaria, mingled with stress, which could also be described in another way as exhaustion.
“In fact, anybody could be exhausted. Please, drink water daily so that you don’t get exhausted.”
“This is to say that the work goes on. I want to assure Nigerians that the National Assembly is intact and we are still going on with our duty, our appropriation.
“We will resume on 20th December. But before then, the various committees must have finished their work to enable us meet the target to pass the budget before the end of the year for the president to append his signature.”
The Central Bank of Nigeria (CBN) has said that it will tackle the rising inflation and exchange rate disparity by next year.
It also projected less revenue from oil exports in the next fiscal year just as it declared that total trade volume from Nigerian Foreign Exchange Market (NFEM) stood at N18.804 billion in the third quarter (Q3) of 2023.
The governor of the apex Bank, Olayemi Cardoso, made the disclosures in his presentation to the National Assembly Joint Committee on Banking, Insurance and other Financial Institutions.
He explained to members of the Joint Committee from both chambers of the National Assembly, that the outlook for the domestic economy in Nigeria for 2024 was very positive as both inflation and exchange rate issues would withstand fluctuating pressures on them and get stabilised.
“The outlook for the domestic economy remains positive and is expected to maintain the positive trajectory for 2024.
“Inflation pressures may persist in the short-term but are expected to decline in 2024. Exchange rate pressures are also expected to reduce significantly with the smooth functioning of foreign exchange market,” he said.
He specifically informed the legislative committee members that the unification of the exchange rate windows in June 2023 has ushered in a new approach to the management of the exchange rate, aimed at reducing arbitrage, rent-seeking behaviour and speculations in the forex market.
“The policy aims at creating a market where the demand and supply of foreign exchange determine the exchange rate.
“The premium has narrowed and our focus on increasing the autonomous FX supply would lead to more stability and further narrowing of the premium.
“Total trade in the third quarter of 2023, stood at N18.804.68billion. Exports were valued at N10.346.60billion while total imports stood at N8.457.68billion. This represents a positive trade balance, which would lead to increase of the external reserves,”the CBN governor explained.
He, however, stated that due to domestic prevailing factors, less revenues would be earned from oil exports in 2024.
He said: “We expect less revenue from oil exports due to the production limit of 1.78mbpd in 2024. OPEC-approved quota for Nigeria is 1.8mbpd, which is higher than the 2024 budget assumption.
“However, the country’s production has been below these thresholds. The budget benchmark for 2023 was 1.69mbpd, but the highest level of production during the year was about 1.35mbpd in Q3 of 2023.
“The reasons for the underperformance of the oil production target include crude oil theft and pipeline vandalization, production shut-ins and divestments by major oil companies,” he added.
Earlier before the CBN governor’s presentation, the chairman of the Joint Committee, Senator Tokunbo Abiru (APC, Lagos East), said the interactive session was organised for a statutory briefing by CBN in line with extant laws.
The co-chairman of the committee, Hon. Bashir Bello El-Rufai, in his remarks, commended the CBN governor and the entire management team on measures being put in place to stabilise the economy generally.
The senators said AMCON was not proactive in recovering liabilities totalling N5 trillion.
Members of the Senate Committee on Banking, Insurance and Other Financial Institutions, on Wednesday, demanded the dissolution of the Asset Management Corporation of Nigeria (AMCON) over the failure to recover liabilities totalling N5 trillion.
The lawmakers made the demand when the Managing Director of AMCON, Ahmed Kuru, appeared before it to defend the agency’s budgetary allocation for the 2024 fiscal year.
During the budget defence, Mr Kuru told the federal lawmakers that AMCON recovered about N648 billion out of the agency’s total liabilities of N5 trillion as of 20 September.
Some members of the committee thereafter expressed concern over the financial statements of AMCON since the beginning of the year.
They called for the dissolution of the asset agency on the grounds that its management was not proactive in recovering liabilities.
Those who called for the dissolution of AMCON are Sani Musa (APC Niger East), Jimoh Ibrahim (APC, Ondo South), Adamu Aliero (PDP, Kebbi Central) and Ifeanyi Ubah (APC, Anambra South).
Anger, calls for scrapping of AMCON Mr Musa, who is also chairman of the senate committee on finance, expressed dissatisfaction with the agency’s performance.
“Most of the loans were owed by individual companies which were never sanctioned and at the end of the day, the same company would go back to buy back their assets that AMCON had hitherto taken over. Are we going to continue like this?
“It is not only about defending the budget, it is about seeing the effect of the appropriation. We need to know whether it is working. Or are we just creating a job for those we can’t protect?
“Will it not be better to scrap AMCON since it seems to have lost its statutory mandate?” the senator asked.
Mr Ibrahim, on his part, lamented the huge financial loss of the assets recovery agency.
“Your total comprehensive profit and loss, and it came into a loss of N145 billion. This calls for concern.
“Your net operating profit and loss is N126 billion. What is responsible for all these big losses? You are created to collect bank loans from them.
“Even if you are now regulators to the debtors, why are you incurring losses? Your balance sheet is not looking so good. Again, why are you buying cash-collateralised loans?” he asked.
At some point, the Chairman of the committee, Tokunbo Abiru, attempted to calm his colleagues down and stop them from scrutinising the managing director of AMCON.
However, when the argument was becoming too hot, the chairman directed that the panel should go into a closed-door session.
After about 30 minutes of the closed-door session, Mr Abiru addressed journalists and announced that members of the committee had agreed to support the existence of AMCON.
“The committee has agreed that there is the need for a strong financial system stability hence agencies like AMCON are still desirable.
“We also believe that the role of AMCON is further underscored by the fact that it was set up using a model that would help us to tidy up the challenges that we had in the financial system in the past.
“The only challenge that we had today is that we need to have a definite time that all the obligations that are hanging on the throat of AMCON must be redeemed.
“The conclusion is that we will continue to work with AMCON and other agencies to fashion out a model that would make AMCON openly wound down its obligation in the possible shortest time.
“There is no society that does not have AMCON in one form or the other. The only way we can resolve financial stability is through the creation of an entity like this and we need to ensure its success” Mr Abiru explained.
Foremost constitutional lawyer, Femi Falana, said the members of the Rivers State House of Assembly whose seats were declared vacant were inexposed to sound legal advice.
Falana stated this in an interview on Channels Television’s Politics Today on Wednesday.
He said the Independent National Electoral Commission (INEC) is required by law to conduct elections for the seats of the lawmakers.
He said, “The legislators were not exposed to sound legal advice. Everybody should know that once the Supreme Court has made a pronouncement on a matter in any country, you’re bound to comply, and if you’re going to take any decision, you must study the judgement critically.
“Just yesterday, 20 legislators who defected from the People’s Democratic Party, PDP, to the All Progressives Congress, APC, had their seats declared vacant by the court. That’s the law; unless the Supreme Court decides to change it, that is the law in Nigeria today.
“It’s also a good development; it’s a good law; it’s a good interpretation that there should be no political prostitution in the country, because it’s tantamount to political immorality if you vote on the platform of a political party and you abandon the party; you’re advised to go and try your luck by contesting again under the new political party,” he said.
Recall that the Rivers State House of Assembly has declared the seats of the 27 members who recently defected from the Peoples Democratic Party the All Progressives Congress vacant.
The 27 lawmakers loyal to the Minister of the Federal Capital Territory, Nyesom Wike, defected from the party recently amid moves to impeach the state governor, Sim Fubara.
The affected lawmakers were not present at the sitting where their seats were declared vacant.
The four-member Assembly, led by factional Speaker Edison Ehie, loyal to the state governor, on Wednesday, said the decision to declare the seats vacant was in line with Section 109 (1) (g) and 2 of the Constitution of the Federal Republic of Nigeria 1999 as amended.
The Speaker, who read the names of the lawmakers affected, called on the Independent National Electoral Commission to conduct fresh elections within the time frame provided by law.to fill the positions.
“Distinguished colleagues, the House will duly inform the Independent National Electoral Commission of the vacancies in the Rivers State House of Assembly and indeed, to conduct a fresh election to fill the above vacancies,” he declared.
The federal government has washed its hands off the ongoing political crisis rocking Rivers State, saying it should not be held responsible for the feud between the Minister of FCT, Nyesom Wike and the state’s governor, Siminalayi Fubara.
The Minister of Information and National Orientation, Mohammed Idris, disclosed this to State House correspondents after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu at the presidential villa in Abuja on Wednesday.
He maintained that the federal government has no hand in creating the crisis, which has seen the FCT minister and some members of the Rivers State House of Assembly pitted against Governor Fubara.
On account of the crisis, 27 of the lawmakers had announced their defection from the ruling Peoples Democratic Party (PDP) in the state to the All Progressives Congress (APC), leading to their seats being declared vacant by the state Legislature.
The minister said the position adopted by Wike on the crisis was not shared by the federal government.
He said, “Well, he is a federal cabinet member; he is involved in the situation in the state. That cannot be a federal government position. How can it be the federal government’s position?”
Idris stressed that the federal government was rather keen to ensure peace and tranquility in every part of the country including Rivers State, saying: “Well, the federal government is always interested in the wellbeing of all the states, and in that direction the federal government will always align with everyone in Nigeria to make sure that there is peace and tranquility in all parts of this country.
“But you know that what has happened in Rivers is not a creation of the federal government. It is a political problem that is brewing in the state.
“Of course, the government will ensure that there is peace and stability for all Nigerians, including Rivers State, but you can’t say that this is a creation of the federal government. The federal government never had any hand in creating that problem.”
On the allegation raised by Asari Dokubo, accusing President Bola TInubu of ignoring the festering crisis in Rivers State, the federal government’s spokesman noted that what the leader of the Niger Delta Volunteers Force said was only advisory.
“I saw Asari Dokubo’s message. It was an advisory. He made an advisory. And when you make an advisory, you allow time to see whether the person you have given the advice will look at it again and come back to you. That does not suggest anything. That doesn’t suggest that the federal government created that problem. It was never a creation of the federal government. It is a creation of the political situation in River State,” the Minister reiterated.
President Bola Tinubu has given a nod for public universities captured in the Integrated Payroll and Personnel Information System, IPPIS, to exit the payment platform.
The Minister of Education, Prof. Mamman Tahir, disclosed the information on Wednesday, shortly after the Federal Executive Council meeting presided over by President Bola Tinubu.
Offering more explanations on the presidential directive, Minister of Information and National Orientation Muhammed Idris said: “Today, the universities and other tertiary institutions have gotten a very big relief from the integrated payroll and personnel information system.
“You will recall that the university authorities and the others have been clamouring for the exemption of the universities and other tertiary institutions from this system.
“Today, Council has graciously approved that. What that means is that going forward, the universities, like the Minister of Education has said, and other tertiary institutions, the polytechnics and colleges of education, will be taken off the IPPIS.
“What that means in simple language is that the university authorities and other tertiary institutions will now be paying their own personnel from their own end instead of relying on the IPPIS.”
Error401: Can you disput what reno posted with a paper from that time saying otherwise? you have the internet and Nairaland created by a YORUBA MAN (Not developer Invictus) is FREE. You can make your post too
Codes151: this one just dey encourage this northerners.... na wa... this military made the same mistakes under buhari... igbos always against southern prosperity.
Can you tell us the southern tribe that worked against a southern president, president Goodluck Jonathan in 2015
Starboytwo: The only thing I'm happy about is the fact that nobody has a monopoly on online abuse.
Because Yorubas are sophisticated, well trained, cultured and always an omoluabi, you'd think they don't have mouth and only one set of people can abuse and drag and chestbeat etc.
The last election really changed the script, Peter Obi really buy market for some people.
Now, violence is being served in various forms, not with lies and empty chest beating, but with verifiable facts that even me I'm surprised.
So omoluabis, una be Tigers. Una don vex kpatakpata.
An opinion is now facts and Reno Omokri brings the so called facts
The Minister of Finance, Olawale Edun, has disclosed that the federal government is targeting foreign exchange outside the banking sector to address the liquidity crisis in the FX market.
Edun stated this on Tuesday while appearing before the House of Representatives Committee on Finance.
He stated that the forex in the hands of Nigerians represents the new “foreign reserve” of the country, adding that the liquidity in the hands of Nigerians runs into billions of dollars.
“Foreign exchange held by Nigerians in cash outside the banking system is in the billions,” he said.
The minister disclosed that President Bola Tinubu’s executive order will help to “facilitate” this money into the “banking sector.”
“Mr President has authorised an executive order to facilitate the payment of that cash into the banking system,” he said.
Edun also agreed with lawmakers that the tax waiver is costing the country trillions of naira annually without any value.
The deputy chairman of the committee, Saidu Abdulahi, said the country should experiment with scrapping the policy for a year and see what would happen.
The minister agreed with the assertion by the lawmakers that the waiver policy is wasteful, noting that the government should consider tax rebates.
ivolt: Amechi wield zero power in Rivers as minister. If moving in large convoys on occasional visit to Rivers is what you call power, then you don't understand politics.
Wike is also on his way to wielding zero power too