₦airaland Forum

Lagos State Government said plans have been concluded to airlift 1,862 intending pilgrims for the 2024 hajj, even as it assured that Israel is safe for 2024 pilgrimage.

The state Commissioner for Home Affairs, Ibrahim Layode stated this in Alausa, Ikeja, during the 2024 ministerial press briefing to mark the first year of Governor Babajide Sanwo-Olu’s second term in office.



Layode said that a total number of 3,655 Muslim pilgrims went on hajj in 2023.

He added that efforts were ongoing to resume in 2024 Christian pilgrimage that was stopped due to the Israeli-Hamas conflict.

According to him, “While in the Holy Land during the Christian pilgrimage, the Israel-Hamas war broke out, thus the second batch of the Christian pilgrims were not able to make the trip.

“To the glory of God, the whole 310 pilgrims returned home safe and sound, no death or absconded.”


On the hajj 2024, he said the first batch of intending pilgrims will be airlifted from Friday, May 17, with assurance of proper arrangement that would make the exercise less stressful to all.

Layode added that the State Muslim Pilgrims Welfare Board had partnered with the National Hajj Commission of Nigeria to ensure that the intending pilgrims experience timely information on their departure dates to avoid keeping them in camp for too long.

On efforts to ensure religious harmony, Layode said the ministry had organised regular meetings with Christian and Muslim leaders to resolve sensitive issues at a round table with understanding from both parties.


Responding to question by one of the journalists, Layode said that the part of the Anglican Church Okepopo on Lagos Island demolished was done in agreement with the church leadership for the good of the community.

Giving the achievements of the ministry in the year under review, Layode said that during the Easter and Ramadan period, the state government on March 29, 2024, organised Combined Special Prayers for Nigeria and President Bola Ahmed Tinubu.

The commissioner noted that during the period of the Ramadan fast, over 50,000 food packs and drinks were distributed to public servants in all MDAs across the state to break their fast.


Layode said that during the Lent/Easter celebration, which is an anticipated spiritual event when Christians fast, pray and engage in acts of self-discipline and purification, the ministry facilitated the distribution of gift items and over 50,000 food packs as means of showing kindness (palliatives) to the teeming fasting Christians across MDAs in the state.

He commended Sanwo-Olu for also extending the gesture of distributing gift items to religious leaders in the state to celebrate the Easter festival.

Speaking on the International “Tolerance Day,” which is celebrated annually on the 16th November as declared by the United Nations, Layode said that due to the cosmopolitan nature of Lagos, the state adopted the day to promote religious tolerance and develop the accommodative mindset of individuals.



© 2024 Vanguard Media Limited, Nigeria

The Women’s World Cup will take place in South America for the first time after Brazil was chosen to host the 2027 edition at a FIFA congress Friday marked by debate about the war in Gaza.

After the success of Australia and New Zealand last year, FIFA members picked Brazil over a European bid in a push to expand women’s football to new continents.

Delegates meeting in Bangkok voted 119 votes to 78 to send the 10th Women’s World Cup to the land of samba football, beating a joint bid from Belgium, the Netherlands, and Germany.


Brazilian Football Confederation President, Ednaldo Rodrigues, hailed it as a “victory for Latin American football and for women’s football in Latin America”.

Brazil, home of women’s football great Marta, scored higher than its European rival in FIFA’s evaluation report.

FIFA inspectors had noted the “tremendous impact on women’s football in the region” that South America hosting the Women’s World Cup would have.

Brazil’s bid includes 10 stadiums used for the men’s World Cup in 2014, with Rio de Janeiro’s famous Maracana lined up for the opening match and final.

But work needs to be done, in particular to the Amazonia stadium in Manaus which has stood almost unused for a decade.

Unlike their male counterparts, who have won five World Cups, Brazil’s women have never lifted the trophy and made a group-stage exit in 2023.

Last year’s tournament set records, including earning $570 million in commercial revenue.

On the pitch it defied fears that increasing the size from 24 to 32 teams would dilute the spectacle, with over 1.4 million fans streaming through the turnstiles to witness a host of shocks.

Gone were the lopsided scorelines that were a feature of previous World Cups, reflecting a growth in the standard of women’s football.

Seven teams notched their first World Cup wins and the United States and Germany, who between them had won six of the previous eight tournaments, were both dumped out early.


The only sour note came in the aftermath of last year’s final in Sydney, in which Spain beat England 1-0.

Spanish Football Federation chief Luis Rubiales sparked outrage when he forcibly kissed midfielder Jenni Hermoso during the medal ceremony, and now faces prosecution for sexual assault.


The 74th FIFA Congress, making its debut in Thailand, made its choice by open vote for the first time as the organisation seeks to move on from the corruption and shady dealing that dogged it in the past.

Delegates had their choice simplified last month when the United States and Mexico withdrew their joint bid, deciding instead to focus on trying to win the right to stage the 2031 edition.

As the Brazil tournament approaches, the focus will be on the huge financial disparity between men’s and women’s football.

Prize money for the 2023 Women’s World Cup was a record $110 million, but that was still far short of the $440 million on offer to teams at the 2022 men’s finals in Qatar.

The congress also heard a call from the Palestinian FA (PFA) to suspend Israel from the world body and ban Israeli teams from FIFA events.

PFA head Jibril Rajoub said the Israeli FA (IFA) had broken FIFA rules, adding: “FIFA cannot afford to remain indifferent to these violations or to the ongoing genocide in Palestine.”

His Israeli counterpart Shino Moshe Zuares rejected the call as “cynical, political and hostile”, insisting the IFA had not broken any FIFA rules.

FIFA supremo Gianni Infantino said the body would take independent legal advice on the matter and decide by July 20 what action to take, if any.


The congress also approved changes to FIFA statutes, removing the rule and fixing the organisation’s headquarters in Zurich, where it has been since 1932.

The rule now says the location of the HQ will be “determined by a decision passed by the congress”, opening the way for it to move from the Swiss city.


Delegates also voted to multiply the number of committees from seven to 35, reversing steps taken in 2016 to clean up FIFA after it was rocked by a wave of corruption scandals.

The remits of the new committees include women’s football, the fight against racism, and eSports, but critics say they risk re-establishing a patronage system the reforms had sought to abolish.


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THE Catholic Bishop of Sokoto Diocese, Bishop Matthew Hassan Kukah, said yesterday Nigerians were in pain due to policies introduced by President Bola Tinubu.

Kukah, however, expressed the hope that with time, such policies should be amended to serve the welfare of the people.

Speaking to State House correspondents after a closed-door meeting with the President at the presidential Villa, Abuja, he advised the President to open a channel of communication with the people on when his policies would begin to yield results.
Asked to assess Tinubu’s administration as it prepares to celebrate the first year in office, Kukah said: “I ’m sure many people will tell you that one year is not enough to make a judgment. However, from where we all stand, we know that we are all in a very difficult situation.


“Nigerians are in various levels of pain and they are pains that are unintended. But they are the results of certain policy decisions that hopefully, with time, can be amended to serve the welfare of the people.

“Because I know that the essence of government is to guarantee the welfare and security of ordinary citizens, I believe the times we are in now are very difficult times and nobody should be under any illusion. But there are also times for renewal.
“We just need to commit ourselves to the fact that building a good society takes a lot of time. It’s not something that is done in one lifetime. And for me, the most important thing is to continue on the building blocks of the things we think are being done well.


“My argument has always been that the government needs to very quickly improve the quality of communication so that Nigerians can, at least, get a sense of how long is it going to be before food is ready.”

Fielding questions on the political crisis in Rivers State, the cleric, who was reluctant to comment on that, however, said: “We ordinary people cry more than the bereaved. The important thing is politicians will fix their problems.

“Rivers State is a place that is very dear to me because I have been associated with them for a very long period.
“But look, when politicians fight, don’t get carried away because they can fix their quarrel. And I hope and pray that Rivers State will sooner, rather than later, reposition because it is not an insignificant part of Nigeria.”


On his mission to the state house, Kukah said: “I came to see the President with the director of the Kukah Centre. We came to discuss with the President an invitation we had earlier extended, which we renewed, to have a conference in which we would like him to be in attendance, to address the theme of national cohesion. So, that’s really what we came to discuss.”


© 2024 Vanguard Media Limited, Nigeria

Bluntemperor:
We need to wake up to our responsibilities, otherwise, International Institutions like IMF and World Bank will do our job of disciplinary action on Corrupt Organisations and Individuals for us and is too shameful!
Tinubu's Govt - should tell us- why he has been foot- dragging on those MDAS-e g- Poverty Alieviation Ministry,etc.
Why has it been difficult for Govt to fight this Corruption in Nigeria?

It is difficult for government to fight corruption in Nigeria because the government is corrupt itself, corruption is the government stock in trade

In recent years, the landscape of sports betting has witnessed a significant evolution, particularly with the increasing involvement of women, Precious Ugwuzor writes that for BetKing, it is committed to fostering a safe and empowering environment for their female customers through tailored initiatives aimed at promoting betting culture among the female folks

Traditionally perceived as a male-dominated domain, women are now actively engaging in sports betting, leveraging strategic wagers to heighten their enjoyment of favorite sports while potentially reaping financial rewards.



Since 2014, there have been an upsurge of women participation in sports betting, what with the increased legalization of sports betting globally. Sports betting companies on the other hand have also deliberately targeted women with their inclusive ads and messaging. Also, the proliferation of sports betting Apps, increased visibility of women’s sports and social acceptance have in no small measure contributed to the growth of women participation in sports betting.


While there are more men bettors in gaming, including sports betting, with an average ratio of 2:5 between women and men, the growth rate of women is almost double the that of men. This stems from the increasing number of women signing up as sports fan. We see more women following football, basketball, tennis, golf and even polo games and research shows that sports fans are more than twice likely to bet on sports. Against this background, we are most likely going to see more women bettors in sports betting in the coming years.



The improved number of female bettors can also be hinged on the propensity of betting as a form of leisure and entertainment, providing an outlet for relaxation. Whether it’s visiting a physical store, participating in online betting platforms, or engaging in friendly wagering with friends, sports betting offers an escape from the stresses of everyday life and an opportunity to unwind and have fun.

Of course, beyond mere entertainment, sport betting can also present financial benefits for women. With strategic decision-making and prudent risk management, women can potentially generate additional income through successful betting endeavours. Whether it’s winning a jackpot, placing bets in favour of their favourite team, betting on virtual sports, sports betting offers the possibility of financial gains for women who approach it with caution and skill.

Moreover, betting can foster a sense of empowerment and confidence among women. By participating in betting activities, women can develop strategic thinking, analytical skills, and decision-making abilities, which can translate into various aspects of their personal and professional lives. The challenge and excitement of betting can instill a sense of self-assurance and resilience, empowering women to tackle challenges and pursue their goals with determination.


Recognising the shift and subsequent growth in the number of women participations, BetKing is aware of the tendency for the esteemed women bettors becoming vulnerable to the risk of gambling addiction. In this light, BetKing is committed to fostering a safe and empowering environment that empowers their female customers to overcome such risks.

Now, in the realm of betting, the focus on responsible gambling is paramount, especially when it comes to ensuring the well-being and financial stability of all customers. Amidst this commitment, BetKing is dedicated to empowering women in betting through tailored initiatives aimed at promoting betting culture among female customers.

They recognise the importance of providing educational resources that cater specifically to the needs of female bettors. Through comprehensive guides, informative articles, and interactive platforms, we aim to equip women with the knowledge and tools necessary to make informed decisions while engaging in betting activities.

Their dedication to enhancing the overall betting experience for women extends beyond just providing entertainment; it encompasses a commitment to fostering a safe and responsible gaming environment.

They also believe that by embracing responsible gambling practices and leveraging the opportunities it offers, women can enhance their well-being, financial stability, and overall quality of life.


, THISDAY is published by THISDAY NEWSPAPERS LTD., 35 Creek Road Apapa, Lagos,

Organised Labour yesterday walked out of the minimum wage negotiation after rejecting the government and the Organized Private Sector, OPS, new minimum wage proposals of N48,000 and N54, 000 respectively.


Under the umbrella of the Nigeria Labour Congress, NLC, and its Trade Union Congress of Nigeria, TUC, counterpart, Labour described the government’s proposal of N48,000 as not only insulting the sensibilities of Nigerian workers but also falling significantly short of meeting their needs and aspirations.



According to organised labour, what the government offered is a reduction in income for federal-level workers who are already receiving N30,000 as mandated by law, augmented by former President Muhammad Buhari’s 40 per cent peculiar allowance of N12,000 and the N35,000 wage award, totalling N77,000.


At a joint briefing in Labour House by the President of NLC, Joe Ajaero and the Deputy President of TUC, Dr Tommy Okon, Labour lamented that the government’s failure to provide any substantiated data to support its offer exacerbated the situation.

‘Credibility of negotiation undermined’
It argued: “This lack of transparency and good faith undermines the credibility of the negotiation process and erodes trust between the parties involved. The NLC and TUC expressed profound disappointment as negotiations at the Tripartite National Minimum Wage Committee resumed today but reached an unfortunate impasse as a result of the apparent un-seriousness of the government to engage in reasonable negotiation with Nigerian workers.


“Despite earnest efforts to reach an equitable agreement, the less than reasonable action of government and the Organised Private Sector, OPS, has led to a breakdown in negotiations. The government’s proposal of a paltry N48,000 as minimum wage does not only insult the sensibilities of Nigerian workers but also falls significantly short of meeting our needs and aspirations.


“In contrast the Organised Private Sector, OPS, proposed an initial offer of N54, 000, though it is worth noting that even the least paid workers in the private sector receive N78, 000 as clearly stated by the OPS, highlighting the stark disparity between the proposed minimum wage and prevailing standards, further demonstrating the unwillingness of employers and government to faithfully negotiate a fair national minimum wage for workers in Nigeria.

“Furthermore, the government’s failure to provide any substantiated data to support its offer exacerbates the situation. This lack of transparency and good faith undermines the credibility of the negotiation process and erodes trust between the parties involved.


“As representatives of Nigerian workers, we cannot in good conscience accept a wage proposal that will result in a reduction in income for federal-level workers who are already receiving N30,000 as mandated by law, augmented by Buhari’s 40 per cent peculiar allowance (N12,000) and the N35,000 wage award, totalling N77,000.

“Such a regressive step will undermine the economic well-being of workers and their families and is unacceptable in a national minimum wage fixing process.

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“In light of these developments, and to prevent the negotiation of a wage deduction, the NLC and TUC have decided to walk out of the negotiation process. We remain committed to advocating the rights and interests of Nigerian workers and will continue to engage in reasonable dialogue with the government if it shows serious commitment to find a fair and sustainable resolution to this impasse.

“We call upon the government to reconsider its position and come to the negotiation table with clear hands that reflect the true value of the contributions made by Nigerian workers to the nation’s development and the objective socioeconomic realities that confront not just Nigerian workers but also Nigerians today as a result of the policies of the Federal Government.

“Together, in a reasonable dialogue, we can work to give Nigerian workers a N615,000 national minimum wage as proposed by us based on evidence and data. This will be in keeping with the pledge of the President, Bola Ahmed Tinubu’s pledge to ensure a living wage for Nigerian workers.”

During a questions and answers session, Ajaero said: “The ministers of finance, budget and national planning, as well as minister of labour and employment, attended the meeting but left early. Only the deputy governor of Niger State stayed throughout the meeting.


“Governor Charles Soludo joined us via zoom but was preoccupied with defending his state. The finance minister’s report indicated that Anambra is among the states not paying the old minimum wage, so Soludo spent much of the time defending his state, instead of representing the governors’ forum.

“The organized private sector claimed that nobody is receiving less than N78,000, but they proposed a figure of N54,000.
“Regarding the next steps, we have a standing ultimatum on the minimum wage negotiation until the end of the month. The N615,000 we proposed is for them to challenge. Negotiation is typically led by labour unions. The government merely mentioned N48,000 without any breakdown of the figure and showed no willingness to discuss it.

‘’There is no seriousness. Instead, Governor Soludo was busy harassing governors who said they would pay N70,000, questioning why they made such statements when it wasn’t even our demand.

“Currently, the Governors’ Forum is meeting, possibly to further impoverish Nigerian workers, but they have not disclosed their revenue since the removal of fuel subsidy. It’s an indictment that the government lacks the necessary statistics for wage negotiation.”

On his part, Dr. Okon of TUC, said: “If you look at the history of national minimum wage negotiations, you will find that even in the worst economic conditions, the government has been considerate in their presentations. Even before the removal of fuel subsidy, the Buhari administration was considerate.

“For the Tinubu administration to have gained so much from the removal of the fuel subsidy, only to invite us to discuss wage reductions, shows that the government is paying lip service to the welfare of Nigerian workers. It indicates a significant amount of mistrust, and that trust deficit has not been resolved.”

Labour justifies N615,000 wage demand
Recall that the NLC had justified Organised Labour’s demand of N615,000 new national minimum wage, saying it is being magnanimous by not raising its demands, despite compelling reasons to do so.

According to NLC, the breakdown of the N615,000 include housing/accommodation @N40,000 a month; electricity/power @N20,000 a month; utility/water @N10,000; kerosene/gas @N35,000; food @N9000 a day, multiplied by 30 days (month) N270,000; medicals for a month @N50,000; clothing for a month @N20,000; education for a month @N50,000; sanitation for a month@N10,000; transportation for a month @N110,000,.

OPS pleads with Labour
Meanwhile, the Organised Private Sector, OPS, has pleaded with Organised Labour to return to the negotiation table, saying the action of labour to walk out, even when negotiations had not started, though within its rights to do so, was unfortunate.

Speaking on behalf of the OPS, the Director-General of the Nigeria Employers’ Consultative Association, NECA, Mr Adewale-Smatt Oyerinde, said: “The action of labour to walk out before negotiation started is unfortunate.

‘’As it is seen globally, a major feature of all negotiations is for all parties to present their opening positions, which was done by all social partners. The expected follow-up action is the actual negotiation, with attendant counter-negotiations, alignment and realignment of positions, among others. The action of labour to walk out has the potential to delay the assignment of the minimum wage committee”

“We urge Organized Labour to reconsider its position and return to the negotiation table in the interest of its members and national development. The Organized Private Sector remains committed to the review of the current national minimum wage to a new one that is fair, sustainable and which takes due cognizance of our current economic situation.”

Meeting resumes today, says c’ttee secretary
In the meantime, the secretary/ member of the Tripartite Committee NNMW, Ekpo Nta, has said the meeting will continue today, claiming it was adjourned yesterday.

A letter signed by the Director, Compensation, National Salaries, Incomes and Wages Commission, NSIWC, Chiadi Adighiogu, on behalf of Mr Nta, read: “I am directed to inform you that the members of the Tripartite Committee on National Minimum Wage, after day-long deliberations at its 4th meeting today (yesterday), May 15, 2024, adjourned the meeting to resume tomorrow (today), May 16, 2024, at 11 am at the same venue.”

At the time of this report, all efforts to confirm with Labour leaders if they would attend the meeting proved abortive.


© 2024 Vanguard Media Limited, Nigeria

Nigerian singer, Habeeb Okikiola, popularly known as Portable, has again made the news for the wrong reasons.

This time, he is not picking fights with any of his baby mamas or a show promoter. The singer will be spending the night in a police cell after he was arrested for refusing to balance the payment for the G-Wagon SUV he purchased from a car dealer in Lagos State.

It was gathered that the “Zazuu” crooner, during the purchase of the vehicle worth N27m, paid only N13m and had refused to pay the N14m balance.

Despite efforts by the dealer to get him to balance up, he never bulged until he was picked by operatives of the Lagos State Police Command on Tuesday.


Since his rise to stardom, the 29-year-old has been cut in several sometimes, messy controversies that leave so much to be desired about his personality.

Here are notable controversies the singer has been involved in.

Arrest for threat to life

In March 2023, the singer was arrested by the police after his signee reported a threat to his life.

In his usual way, he resisted arrest and was consequently arraigned before a High Court.

Detailing his experience in the cell, Portable released his hit song “ Government”

Outburst with Poco Lee

The singer’s outburst with dancer, Poco Lee, followed his first hit, “Zazuu” which featured rapper, Olamide.

He accused the dancer of shortchanging him during his show with Grammy winner, Wizkid. According to him, Poco Lee only gave $600 of the money sprayed while the dancer made away with the remaining $2400.



Battle with manager, crew

In a surprise move, Portable sacked members of his crew, including his manager, disc jockey, and show promoter.

Their sin? They never wanted others to join the crew. Speaking further, the singer accused his crew members of always holding him back from meeting new people and making progress in his career.

He mentioned that he no longer want to deal with their attitude, and he wants to maintain his space.

Fued with ex-signee, Young Duu.

In December 2023, the singer engaged in fisscup with Onlyone Kesh, manager to his ex-signee, Young Duu in a Lagos bar.

Before the incident, the singer had threatened to deal with Yungi Duu and the persons who aided his departure from his record label without his consent.

Canada visa wahala

Portable was removed as one of the guest musicians performing at a show in Canada in 2022.

According to a Canadian-based Nigerian MC, Morris, the singer was dropped because of his attitude.

He complained that Portable had sacked two managers in less than a year, and he would no longer have him perform in his show.

He went further to say that he wrote to the immigration to deny his visa application.


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This followed the decision of the House of Representatives, which, last Thursday, asked the CBN to withdraw its circular directing all banks to commence charging a 0.5 per cent cybersecurity levy on all electronic transactions in the country.

The CBN on May 6, 2024, issued a circular mandating all banks, mobile money operators, and payment service providers to implement a new cybersecurity levy, following the provisions laid out in the Cybercrime (Prohibition, Prevention, etc) (Amendment) Act 2024.

According to the Act, a levy amounting to 0.5 per cent of the value of all electronic transactions will be collected and remitted to the National Cybersecurity Fund, overseen by the Office of the National Security Adviser.

Financial institutions are required to apply the levy at the point of electronic transfer origination.

The deducted amount is to be explicitly noted in customer accounts under the descriptor “Cybersecurity Levy” and remitted by the financial institution. All financial institutions are required to start implementing the levy within two weeks from the issuance of the circular.

By implication, the deduction of the levy by financial institutions should commence on May 20, 2024.

However, financial institutions are to make their remittances in bulk to the NCF account domiciled at the CBN by the fifth business day of every subsequent month.

The circular also stipulates a timeframe for financial institutions to reconfigure their systems to ensure complete and timely submission of remittance files to the Nigeria Interbank Settlement Systems Plc as follows: “Commercial, Merchant, Non-Interest, and Payment Service Banks – Within four weeks of the issuance of the Circular.

“All other Financial Institutions (Microfinance Banks, Primary Mortgage Banks, Development Financial Institutions) – Within eight weeks of the issuance of the Circular,” the circular noted.

The CBN has emphasised strict adherence to this mandate, warning that any financial institution that fails to comply with the provisions will face severe penalties. As outlined in the Act, non-compliant entities are subject to a minimum fine of two per cent of their annual turnover upon conviction.

The circular provides a list of transactions currently deemed eligible for exemption, to avoid multiple applications of the levy.

These are loan disbursements and repayments, salary payments, intra-account transfers within the same bank or between different banks for the same customer, and intra-bank transfers between customers of the same bank.

Exemptions include other financial institutions’ transfers to their correspondent banks, interbank placements, banks’ transfers to CBN and vice versa, inter-branch transfers within a bank, cheque clearing and settlements, letters of credit, and banks’ recapitalisation-related funding.


Others are bulk funds movement from collection accounts, savings, and deposits including transactions involving long-term investments such as treasury bills, bonds, and commercial papers, and government social welfare programmes transactions.

These may include pension payments, non-profit and charitable transactions including donations to registered non-profit organisations or charities, educational institutions transactions, including tuition payments and other transactions involving schools, universities, or other educational institutions, and transactions involving the bank’s internal accounts, inter-branch accounts, reserve accounts, nostro and vostro accounts, and escrow accounts.

The introduction of the new levy sparked varied reactions among stakeholders as it is expected to raise the cost of conducting business in Nigeria and could potentially hinder the growth of digital transaction adoption.

‘Stop levy now’

Members of the House of Representatives on Thursday asked the Central Bank of Nigeria to withdraw the circular directing financial institutions to commence implementation of the 0.5 per cent cybersecurity levy, describing it as “ambiguous”.

The development was in response to a motion on the urgent need to halt and modify the implementation of the cybersecurity levy, moved by Kingsley Chinda.

According to the House, the CBN is to withdraw the initial circular, and “issue a more understandable one”.

Chinda had drawn the attention of the House to multiple interpretations of the CBN directive against the specifications in the Cybersecurity Act.

The House then expressed worry, that the Act would be implemented in error if immediate steps were not taken, to address the concerns around the interpretation of the CBN directive and the Cybersecurity Act.

However, sources with knowledge of Tinubu’s position on the issue told Sunday PUNCH that the President was aware of the economic burden on Nigerians since his hardline economic reforms began last May, adding that he did not want to risk adding to the burden with more levies.

A senior presidency official who preferred not to be named told our correspondent, “The President is sensitive to what Nigerians feel. And he will not want to proceed with implementing a policy that adds to the burden of the people.

“So, he has asked the CBN to hold off on that policy and ordered a review. I would have said he ordered the CBN, but that is not appropriate because the CBN is autonomous. But he has asked the CBN to hold off on it and review things again.”


“If you look at it, the law predates the Tinubu administration. It was enacted in 2015 and signed by Goodluck Jonathan. It is only being implemented now.


“You know he (Tinubu) was not around when that directive was being circulated. And he does not want to present his government as being insensitive. As it is now, the CBN has held off the instruction to banks to start charging people. So, the President is sensitive. His goal is not to just tax Nigerians like that. That is not his intention. So, he has ordered a review of that law.”

Tax reforms not to frustrate Nigerians — Shettima

Meanwhile, the Vice President, Kashim Shettima, on Saturday, said the tax reforms undertaken by the Bola Tinubu administration were not aimed to frustrate Nigerians but to sustain the country’s investment friendliness.

The VP, represented by his Special Adviser on General Duties Dr Aliyu Umar, spoke at the close-out retreat of the Presidential Fiscal Policy and Tax Reforms Committee held at the Transcorp Hilton, Abuja. Shettima’s Spokesperson, Mr Stanley Nkwocha, revealed this in a statement titled, ‘Our tax reforms initiated for overall benefits of Nigerians – VP Shettima’.

He argued that contrary to speculations in some quarters, “we are not here to frustrate any sector of our economy but to create an administrative system that ensures the benefits of a thriving tax system for all our citizens”.

Levy suspension welcome development – PDP

Reacting to the decision of the President, the Peoples Democratic Party’s National Publicity Secretary, Debo Ologunagba, welcomed the suspension of the cybersecurity levy policy implementation, noting that the policy should not have been introduced at all.

He said, “It was an anti-people decision from the beginning. It was an insensitive decision from the beginning. It was an ambush on the people who had already been frustrated by the multiple layers of taxes from the beginning. So, it was a very cruel introduction because you do not need to tax us to have cybersecurity.

“You do not need to tax the villagers or the people in the rural areas for cybersecurity. People who do not even have light. They don’t even have access to an internet connection. Well, if that is a show that the president is listening, then that is good. Then, he must now continue to listen more and begin to look at where the problem started and that is the issue of removal of subsidy without any cushioning of its effect. What will happen is that the president should go back further so that Nigerians can breathe by ensuring a policy that will reduce the hardship of the sudden removal of the subsidy.”

Also, reacting to the development, the Chief Executive Officer, Centre for Promotion of Private Enterprises, Dr Muda Yusuf, said the President’s decision shows he is a democrat, adding that the CBN should ensure that the reviewing process of the policy is very inclusive.

“The President’s decision is in line with the clamour by the people. There had been a lot of outcry about it and the fact that the president has responded shows that he is a democrat. It shows he is a listening leader. So we must commend him for listening to the voices of the people. It is a welcome development.

“The government should now look at the policy. I am sure it is not going to be only the CBN. Even the legislators should also look at it because they passed the law. But the key thing is that the policy needs to be reviewed. And the apex bank should take the review beyond the government level. It must consult the stakeholders and the organised private sectors. That is what will make the review very inclusive.”

Also speaking to Sunday PUNCH, the Director of Centre for Anti-corruption and Open Leadership, Debo Adeniran, said while President Tinubu should be commended for the decision, the Federal Government should consider a total cancellation of the policy instead of a temporary suspension.

He said, “This is the right step in the right direction. It further accentuates the fact that President Tinubu listens to the voice of the people. And maybe it is because he used to be an activist. He knows that the voice of the people is the voice of God.


“But then, the suspension of the policy is not enough. It should result in the total cancellation of the policy. All the taxes, rates, and levies that are being imposed on the people should be streamlined so that if we want to pay personal income taxes, we should know that that is what we are paying. It is not that the government will take off personal income taxes and we should now pay for every service that we should enjoy from the government. And the increase in micro-economic products like petroleum and others should be made cheaper and affordable for all Nigerians,” he stated.

Also, a professor of Economics at Olabisi Onabanjo University, Sheriffdeen Tella, cautioned the Federal Government against creating additional hardship for Nigerians. He said while the policy was not a bad idea, the timing was inappropriate.

He said, “There is nothing wrong with the levy but it was at the wrong time. The government should stop creating problems for itself. People are battling inflation and all sorts of inefficiency and you are imposing a tax on them. The president has done well by reversing it. It is not the right time to impose additional burdens on Nigerians. I commend the President for having the courage to do the right thing.”

SERAP threatens lawsuit

Meanwhile, the Socio-Economic Rights and Accountability Project threatened to file a lawsuit if the Federal Government did not withdraw the levy within 48 hours. The group stated that the levy “patently violates the provisions of the Nigerian constitution 1999 (as amended) and the country’s international human rights obligations and commitments”.

Labour rejects levy

However, the Nigeria Labour Congress stated that the cybersecurity levy and several other levies and taxes already imposed on the citizens had deepened the financial burden on the populace currently grappling with economic challenges.


A statement signed by the NLC President, Joe Ajaero, demanded the reversal of the directive by CBN, adding that the Federal Government should prioritise policies that alleviate the financial burdens of Nigerians. NLC said the move, which was ostensibly aimed at bolstering cybersecurity measures, could exacerbate the financial strain already faced by the populace.


Punch nigeria limited

The female orphans whose ages were yet to be disclosed reportedly lost their parents to banditry attacks in the Mariga Local Government Area.

The Speaker of the Niger State House of Assembly, Abdulmalik Sarkindaji, has announced plans to marry off 100 female orphans in the state, saying he was "concerned with" their growing number as a result of activities of banditry,


The female orphans whose ages were yet to be disclosed reportedly lost their parents to banditry attacks in the Mariga Local Government Area.


Addressing reporters in Minna, Niger State capital, Sarkindaji, who represents the Mariga State Constituency, disclosed that he would pay the dowries for the bridegrooms as part of his constituency project.


According to him, all necessary materials for the marriage ceremony schedule for May 24 at Bangi, the headquarters of Mariga Local Government Area, had been procured.


According to Daily Trust, he revealed that 100 girls who would be married off were carefully selected from the 170 girls whose names were submitted.


The Speaker, described the initiative as part of his constituency empowerment project, “aimed at alleviating the suffering of the impoverished.”

Sarkindaji, however, noted that the Niger State Governor, Mohammed Umar Bago, and the Emir of Kontagora, Alhaji Mohammed Barau, would serve as guardians to the female orphans during the mass marriage ceremony.

Expected to attend the ceremony is the Kano State Commander General of the Hisbah Board, Sheikh Aminu Daurawa.


Copyright © 2006–2024 Sahara Reporters, Inc. All rights reserved.

Chicagograduate:
I just don't like this IMF and world Bank.

for saying the truth

TerrouMuda:
Subsidy is gone.
Abi na propaganda?

Nope

The implicit subsidy will cost Africa’s largest crude producer an estimated 8.43 trillion naira ($5.9 billion) of its projected 17.7 trillion naira of oil revenue, the IMF said in a report published on Thursday.

Nigeria’s reintroduction of a gasoline subsidy months after it was scrapped is expected to guzzle almost half of its projected oil revenue this year, according to the International Monetary Fund.




The implicit subsidy will cost Africa’s largest crude producer an estimated 8.43 trillion naira ($5.9 billion) of its projected 17.7 trillion naira of oil revenue, the IMF said in a report published on Thursday.



Its forecasts according Bloomberg are similar to Bank of America’s, which projects it could cost Nigeria between $7 billion and $10 billion this year if it imports between 18 and 25 billion liters of gasoline, Tatonga Rusike, BofA sub-Saharan Africa economist, wrote in a note.




“Fuel subsidies were reformed in June 2023, however, adequate compensatory measures for the poor were not scaled up in a timely manner and subsequently paused over corruption concerns,” the IMF said.



President Bola Tinubu halted the $10 billion subsidy at his inauguration mid-last year to help the government repair its finances after debt-service costs jumped to 96% of revenues.



The removal and a devaluation of the naira days later, which was aimed at creating a free-floating currency, led fuel prices to more than triple, fanning inflation and protests.



To help Nigerians cope, authorities started capping fuel pump prices below cost reintroducing implicit subsidies by end-2023, the IMF said.



The currency has depreciated by almost 70% against the dollar since last June.



Despite being Africa’s largest oil producer, Nigeria imports most of its gasoline needs because it lacks the refining capacity to meet domestic demand. The hope is that when a 650,000 barrel-a-day oil refinery outside Lagos, owned by Aliko Dangote, Africa’s richest person, and one in Port Harcourt, controlled by state-owned Nigeria National Petroleum Co., come fully online that will change.



The IMF said it expects the fuel subsidy to be completely phased out within two years, as the government scales up its cash transfer program targeted at the country’s poorest. About 40% of Nigerians are extremely poor.



While the subsidy was removed on May 29, 2023, “all governments have the prerogative to maintain price stability and prevent social unrest,” Olu Verheijen, a senior energy aide to Tinubu told a news conference in Abuja in March. “If prices are moving, they reserve the right to intervene.”




SAHARA REPORTERS
Copyright © 2006–2024 Sahara Reporters, Inc.

SoSlimOlak:
Butter and margarine should be consumed in moderation to minimize the risk of heart-related diseases. Excessive consumption can lead to accumulation in the body, particularly around the heart, skin, and abdominal areas. Unlike protein, which is utilized by the body as needed, excess butter and margarine are not efficiently metabolized and can lead to harmful build-up.

it increases the cholesterol level in the blood vessels

Justice Peter Akhihiero of Edo State High Court has admitted the Benin Traditional Council (BTC) as a party in a suit instituted by suspended Enigie (Dukes) of the Kingdom, against the Oba Ewuare II.

Two of the suspended Enigie, (Evbuobanosa and Egbaen Siluko Dukedoms), Professor Gregory Akenzua and Chief Edomwonyi Ogiegbaen respectively, had on behalf of others, dragged the Benin Monarch to court, challenging their suspension from offices.


They claimed that it is only the State Governor, Mr. Godwin Obaseki and not the Monarch could suspend them from their positions for allegedly rebelling against the Monarch.

Oba Ewuare II and Edo State Government, are the 1st and 2nd Defendants respectively in the suit marked, B/250os/2023.


While other parties in the suit aligned with the position of Oba Ewuare II Counsel to join Benin Traditional Council, BTC in the suit, the claimants, Prof. Gregory Akenzua and Edomwonyi Ogiegbaen through their counsel, Dr Osagie Obayuwana, prayed the court not to list the Benin Traditional Council, BTC as a party in the suit and urged the court to award cost against Oba of Benin in favour of the claimants.


But, Justice Akhihiero who turned down the prayers, held that Obayuwana should not worry about the timing.

According to him, “The race is not for the swift, or the battle for the strong. If they were bringing in the Traditional Council as necessary, I don’t see this as a problem since you people have brought the Oba to court. I don’t think I can shut down any party. Let them come in and file their processes.”

Justice Akhihiero who directed all parties in the suit to amend their relevant documents in the case to reflect the decision of the court, adjourned hearing in the case to 15 July, 2024.



Copyright © 1994 - 2024 PM NEWS |

Bandits on Thursday night invaded the Confluence University of Science and Technology (CUSTEC), Osara, Okene in Kogi and abducted some students.

An eyewitness account indicated that the bandits swooped on the university around 9 p.m. while the students were reading for their upcoming exams.

The source said that the bandits came in through the bush, went into three lecture halls, and began to shoot into the air to scare the students.


“They trapped the students inside the halls and started taking them; the school was thrown into total confusion as fear-stricken students in other halls scurried to safety, scampering in various directions.


“By the time local security guards and the conventional security men at the gate engaged the bandits, they had already succeeded in abducting some students.

“But the efforts minimised the damage as the attackers didn’t go beyond the first three halls,” the source said.

According to the source, the students were preparing for their first-semester examination, expected to commence on Monday, May 13, when the bandits struck.

A student, who craved anonymity, said that he and some colleagues ran to the bush and hid there for “more than an hour”.


“We only ventured out when everywhere became quiet,” he said.

Contacted, CUSTEC Vice Chancellor, Prof. Abdulraman Asipita, confirmed the incident but refused to give details of the number of students abducted.


“I don’t talk to journalists on incidents like this, but I want you to know that we are on top of the situation,” he said.



Retired Cdre Jerry Omodara, State Security Adviser, could equally not be reached for comments, as calls to his line were neither picked nor returned. (NAN)




© 2024 Vanguard Media Limited, Nigeria

Kaduna State Governor, Senator Uba Sani, has announced plans to relocate 359 schools from high-risk areas to safer communities within the state.

On March 7, bandits carried out mass abduction of over 250 pupils from the LEA primary school, Kuriga, with 167 of them released two weeks later following a military operation.


The governor, represented by his Chief of Staff, Sani Kila, revealed these measures during a stakeholders forum and training session for the newly established Schools’ Protection Squad.

This initiative, part of the federal government’s Safe School Initiative, aims to enhance security measures to protect educational institutions, students and teachers from attacks orchestrated by bandits and terrorists.

Why Nigeria needs to replace its sat-2
Nigeria losing the concept of governance
Expressing concern over the disruptive impact of non-state actors on socio-economic activities, Governor Sani emphasised the critical importance of safeguarding the state’s educational sector.

He highlighted the alarming decline in school enrollment, noting a significant drop of over 200,000 primary school pupils during the 2022/2023 academic session compared to the previous year.

Governor Sani attributed the decline primarily to insecurity, particularly in areas such as Chikun, Birnin Gwari, Kajuru, Giwa and Igabi where ongoing insecurity has compelled the consolidation of schools, exacerbating the issue of out-of-school children.

“To ensure uninterrupted education for children residing in conflict-prone and terrorist-infested areas, this administration has commenced the merging of 359 schools with those situated in safer locations,” Governor Sani affirmed.


info@dailytrust.com
1998 - 2024 Media Trust Limited.

The Department of State Services has reportedly arrested the wanted former chairman of the Oyo State Park Management System, Mukaila Lamidi, popularly known as Auxiliary.

The PUNCH reliably gathered that Auxiliary was arrested at about 4:00 pm on Tuesday at his residence in the Olodo area of Ibadan, the state capital.

Although the reasons for his arrest are still sketchy, a source who spoke to our correspondent on the condition of anonymity because of the weight of the matter said it was because of an interview he granted on Saturday, May 4, in which he called out Seye Famojuro, a trusted ally of Oyo State Governor, Seyi Makinde, for being behind his woes.

In the interview he granted to Media personnel, Ajibola Akinyefa, in the Yoruba Language, the former PMS chairman said, “If he (Famojuro) is the governor or Seyi Makinde is, we will know. It is just a matter of time. Everybody will face the consequences of their actions. The people he chose to manage the park are cheating themselves.


When asked if it was his hooliganism that led to his removal, Auxiliary queried how many people reported that he beat them to the police.

He further said that Seye would still return to Ijesha because Ibadan is not his homeland.

Osun gov's media aides accuse DSS of contempt of court
“Seye will still go back to Ijesha because Ibadan is not his town. Only Governor Seyi Makinde and I will remain here because we won’t run away. And I see that the bird is not working, but God feeds it. Seye will reap the seeds of his actions,” he added.

In May 2023, Auxiliary was arrested after being linked to an alleged attempt by his loyalists to cause trouble in the state following the dissolution of the PMS committee by Makinde.

An impeccable source who spoke with PUNCH Metro said the police acted swiftly to prevent a breakdown of law and order in the state, adding that during the raid, Lamidi escaped which led to him being declared wanted.

The source, who craved anonymity over fears of harassment, said, “From what we gathered, the police acted on the information that some members of the Auxiliary’s camp wanted to cause trouble based on the government disbanding their operations in the state.

“So, the police were proactive, stormed their location, made some arrests and recovered some arms and ammunition. But Auxiliary was not arrested. The people arrested were in connection with the fact that intelligence linked them to an attempt to cause trouble in the state today.”

However, attempts to reach the spokesperson for DSS, Peter Afunnaya, proved abortive as several calls made to him were unanswered and text messages ignored.


punchng.com © 1971- 2024 Punch Nigeria Limited

President Joe Biden has warned Israel that the US will stop supplying some weapons if it launches a major ground operation in the Gaza city of Rafah.

"If they go into Rafah, I'm not supplying the weapons that have been used historically to deal with Rafah," he said during an interview with CNN.

He added that he would "continue to make sure Israel is secure".

Despite firm and vocal US opposition, Israel appears poised to mount a large-scale invasion of Rafah.

The congested part of southern Gaza is Hamas's last major stronghold in the territory. US officials have warned that an operation in the city - where the population has swelled with refugees from other parts of Gaza - could lead to extensive civilian casualties.


"We're not going to supply the weapons and artillery shells," Mr Biden said in the interview, which aired on Wednesday.

He said the US did not define the current situation in Rafah as a ground operation. "They haven't gone into the population centres. What they did is right on the border," he said.

"But I've made it clear to [Israeli Prime Minister Netanyahu] and the war cabinet, they're not going to get our support, if in fact they go in these population centres."

Mr Biden acknowledged that US weapons had been used by Israel to kill civilians in Gaza.

When asked if Israel had crossed a "red line", the US president replied "not yet".


The comments amount to the president's strongest warning yet over a potential ground invasion of Rafah, and mark the first time he has said the US could stop shipments of American weapons to Israel.

Israel's ambassador to the UN said the country was "very disappointed" by Mr Biden's intervention.

"This is a difficult and very disappointing statement to hear from a president to whom we have been grateful since the beginning of the war," Gilad Erdan told Israeli public broadcaster Kan radio.

The US has already delayed a shipment of thousands of bombs to Israel, and has said it is reviewing future deliveries.

On Wednesday, Defence Secretary Lloyd Austin confirmed the delay of the bomb shipment - some of the most destructive munitions in Western military arsenals - while testifying in front of the Senate.

The weapons being held back by the US are related to a future delivery, so the move is unlikely to have an immediate impact. But given the rate at which Israel is bombing it will probably affect future strikes fairly soon.

The Israeli military, meanwhile, has said that the two countries will resolve disagreements "behind closed doors".

President Biden faces mounting domestic pressure - from some Democrats and parts of the US public - to rein in Israeli operations in Gaza amid rising civilian deaths and a worsening humanitarian situation.

US officials confirmed that no new aid supplies had been delivered in Gaza via two gates in the south since Israeli tanks rolled into southern Rafah and took control of the Palestinian side of the crossing with Egypt this week.

Israeli military spokesman Daniel Hagari said the US had provided "unprecedented" security assistance since the beginning of the war, adding that disputes between the allies were resolved "behind closed doors in a matter-of-fact way".

But a leading member of Mr Netanyahu's Likud party in Israel told the BBC's Newshour on Wednesday he believed US domestic political considerations were behind the decision to halt the delivery of bombs.

"I totally disagree that the American election has nothing to do with it," said Boaz Bismuth, a member of both the Israeli parliament and the foreign affairs and defence committee.


Gazans ask 'where will we go now?' after Rafah evacuation orders
Rafah has been a key entry point for aid, and the only exit for people able to flee, since the start of the war between Israel and Hamas last October.

The crossing remained closed on Wednesday morning, but the Israeli military said it was reopening the nearby Kerem Shalom crossing, which had been closed for four days because of Hamas rocket fire.

On Monday, the Israeli military ordered tens of thousands of civilians to begin evacuating eastern parts of Rafah city, ahead of what it called a "limited" operation to eliminate Hamas fighters and dismantle infrastructure.

Meanwhile, efforts continue to reach a ceasefire, alongside the release of Israeli hostages and Palestinian prisoners. In Cairo, delegations from Israel and Hamas have resumed negotiations through mediators.

A US official said that talks with Israel were "ongoing and have not fully addressed our concerns" and the US had been reviewing its weapons transfers to Israel since April.

Israel launched a campaign to destroy Hamas in response to the group's attack on southern Israel on 7 October, during which about 1,200 people were killed and 252 others were taken hostage, according to official Israeli tallies.

More than 34,780 people have been killed in Gaza since then, according to the territory's Hamas-run health ministry.

A deal agreed in November saw Hamas release 105 hostages in return for a week-long ceasefire and some 240 Palestinian prisoners in Israeli jails. Israel says 128 hostages are unaccounted for, 36 of whom are presumed dead.


Copyright 2024 BBC.

The Trade Union Congress of Nigeria (TUC), has condemned and described as illogical, the recent directive by the Central Bank of Nigeria (CBN) in a circular to banks imposing a 0.5 per cent cybersecurity levy on almost all electronic transactions.

The union in a statement signed by its President, Comrade Festus Osifo on Wednesday in Abuja, lamented that the policies of the Bola Ahmed Tinubu-led administration have continued to impose hardship, pain, and anguish on an already impoverished masses, even as many businesses struggling to thrive under the harsh and anti-people polices were shutting down operations.

While noting that the extortions from the current administration were vexatious, the labour union noted that it would not stand.

He said: “It is indeed illogical that this is coming at a time that Nigerians are grappling with the high cost of living that is imposed by the devaluation of Naira, hyper hike in the cost of Petrol, supersonic increment in the cost of electricity tariff, etc.

“We are quite disturbed that since the inception of this administration, its policies have brought pain, anguish and sorrow to Nigerians. Whereas a bank account holder in Nigeria today is currently charged stamp duty, transfer fee, VAT on transfer fee, and all forms of account maintenance levies by both government and the banks; this burden seems not to be enough as the government is poised to inflict further pain on the already battered Nigerians.

“So many policies of this government are not only imposing hardship on the downtrodden Nigerians but also on businesses, as some of them are shutting down because of the unfriendly business environment.

While accusing the National Assembly of colluding with members of the executives to oppress the masses, and choke the little life out of them, the TUC maintained that the conspiracies would be resisted.

“The National Assembly that ought to be the bastion of democracy and the protector of the citizens oftentimes engages in collusion with elements within the executive to exploit the people. How can such an obnoxious law see the light of day in a truly people-oriented legislative house?

“This is indeed a conspiracy of the oppressors against the masses and citizens of this country and it must be resisted by all well-meaning Nigerians.”

The TUC vowed to mobilise Nigerians nationwide to protest if the directive was not reversed, even as it alleges there was an ongoing conspiracy to drain Nigerians of their hard-earned resources which were amounting to nothing due to the hyperinflation on goods and services occasioned by the government’s policies.

“Financial analysts have done a preliminary estimate using the 2023 online transfer volume in Nigeria that fell within these categories and put the value at over 2 trillion Naira; what kind of cybercrime are we fighting with this humongous amount of money? This ugly development will further encourage people to hoard cash at home, reduce financial inclusion, increase poverty and exacerbate the misery index.

“The cost of living is at an all-time high, food inflation is biting, all contributing to the miserability of Nigerians. This act is viewed as a deliberate plot to continue to drain Nigerians of their hard-earned money and we kick against this vehemently.

“All Nigerians are interested in right now is the urgent conclusion of discussions around the minimum wage and not a vexatious policy that is further reducing the already depleted disposable income of the masses and indirectly ridiculing the gain which the minimum wage would have brought to the people when concluded.

“We call on the federal government to give a marching order to the Central Bank of Nigeria to immediately withdraw the circular and cancel the planned levy forthwith; failure of which we will be left with no option than to mobilize all our members, stakeholders and indeed the entire masses to embark on the immediate protest that would culminate into the total shutdown of the Nigerian economy as this is one exploitation too many. Enough is enough; Nigerians must breathe! This extortions must stop.

NLC Demands Immediate Reversal Of Cybersecurity Levy




© 2023 All right reserved. New Telegraph, Nigeria

President Bola Tinubu on Wednesday morning returned to Abuja, the nation’s capital after a two-week overseas trip.

The President whose official plane, Nigeria Air Force1, touched down at the Presidential Wing of the Nnamdi Azikiwe International Airport, Abuja at about 1.45am, was received by top government officials including his Chief of Staff, Hon Femi Gbajabiamila.

President Tinubu had left Abuja on April 23 for official visit to the Kingdom of the Netherlands at the invitation of Prime Minister Mark Rutte.


During his time in the Netherlands, the President held discussions with prominent Dutch officials, including separate meetings with King Willem-Alexander and Queen Maxima.

Following his engagements in the Netherlands, President Tinubu proceeded to Saudi Arabia where he attended a special World Economic Forum meeting in Riyadh, from April 28 to 29. The forum, themed “Global Collaboration, Growth, and Energy for Development,” was attended by leaders from various sectors to discuss global development strategies.

The President was said to have left Riyadh for London, the United Kingdom on a private visit from where he returned to Abuja on Wednesday morning.

The Niger Delta Youth Congress (NDYC), Ohanaeze Ndigbo Youth Council Worldwide and the Yoruba Youth council has called for a total overhaul of the naval high command.

The youth.group said they are deeply disheartened by the recent revelations of criminal activities within the Navy and concerned about recent reports implicating the Navy in nefarious activities such as crude oil theft, diversion of crude oil, and providing security escorts for crude oil thieves on our waterways.


A statement by Comrade Israel Uwejeyan, national Coordinator NDYC said youth of the region cannot overlook the egregious actions and tarnished reputation that have characterised the Navy’s operations under Vice Admiral Ogalla’s command.

“The NDYC condemns in the strongest terms actions by the Navy that compromise the security and integrity of our waterways. We call on the appropriate authorities to thoroughly investigate these allegations that includes the recent criminal incident that occurred on Friday the 3rd of May 2024 involving Mt Prestigious and MT Montagu and those found culpable must be brought to justice to serve as a deterrent to others and to restore the integrity of the Navy.

“At a time when our country is in desperate need of all available resources to alleviate the suffering of the masses and stabilize the economy, it is incredibly saddening and unacceptable for such activities that not only undermines the efforts to stabilize our economy but also exacerbates the suffering of the Nigerian people to be taking place.


“We therefore pass a vote of no confidence on the Chief of Naval staff Vice Admiral Emmanuel Ogalla and call for swift and thorough investigations into these criminal activities and those found culpable must be brought to justice to serve as a deterrent to others and to restore the integrity of the Navy”.

“In conclusion, the NDYC vehemently denounces the scandalous activities within the Navy under the leadership of Vice Admiral Ogalla. It is imperative that swift and decisive action is taken to rectify these egregious transgressions. Our collective efforts must be directed towards promoting lawful and sustainable maritime activities for the benefit of all Nigerians.

“In the same vein through a separate statement, the apex Igbo socio-cultural organisation, Ohanaeze Ndigbo Youth Council Worldwide has called for a thorough overhaul of the Naval high command.”

In another the statement made available to journalists on Monday by Mazi Okwu Nnabuike, the National President of Ohanaeze Ndigbo Youth Council Worldwide, he said there were disturbing allegations of high calibre oil theft still ongoing in the Niger Delta region.

According to Okwu, only a few days ago, there were allegations “that on 3rd of May, 2024, MT Montagu went alongside MT Prestigious and discharged 104,4033 BBL of crude. The crude was loaded from MT Byranston stationed at Newcross Facility San Barth OML 24 Marginal oil field.

“MT Montagu only discharged into MT Prestigious and did not take away any product from her. The ship was arrested by private security and it was released by the naval officials who said they were acting on orders from above, after a series of agitation by stakeholders.

“Even when there was a counter order that the ship be re-arrested, the navy officials allowed another Tank vessel to either evacuate the exhibit or dilute it, in the name of taking samples, which ideally should be taken in a small bottle for lab test. What was the vessel doing there as shown in one of the pictures.”

Okwu, who said it appeared the naval officials were sabotaging the Federal Government’s efforts to ramp up oil production, said the avowed promise by President Tinubu rid the country of corruption must be demonstrated through the immediate overhaul of the naval high command.

“We stand for zero tolerance for corruption and support for the growth of the economy and total support for the Tinubu-led Federal Government’s anti-corruption fight and based on the allegations we have sighted as narrated, we call for the sack of the Naval hierarchy, starting from the Chief of Naval Staff under whose watch the officials have been unable to tame oil thieves.


“However, we urge Mr President to appoint another Igbo man as his replacement.This is the only way to restore sanity to the oil production chain,” Okwu added.



Copyright © 2024 Blueprint Newspapers Limited.

onatisi:
if this cybersecurity levy trash stands then definitely prices of goods and services will rise again .

Yes, the government is faning the embers of inflation instead of finding ways in reducing it.

Sheuns:
Still the government wants to introduce a silly cyber security levy.

Their so called ways of increasing IGR is by squeezing every penny from the citizens.

The 50K they shared to some people will be taking back in 50 folds over the period of their tenure.

has anyone you know received the audio 50k

Some of Nigeria’s biggest manufacturers incurred losses in the first three months of 2024 as their borrowing costs swelled on the back of rising interest rates and a further devaluation of the naira, according to data compiled by BusinessDay.

The latest financial statements of 13 listed consumer goods firms show that seven of them- International Breweries Plc, Cadbury Nigeria Plc, Nigerian Breweries Plc, Nestlé Nigeria Plc, Dangote Sugar Refinery Plc, Champion Breweries Plc, and Guinness Nigeria Plc posted a combined loss of N388.6 billion in Q1.

Of the six remaining companies, three which include BUA Cement, Lafarge Africa Plc and Nascon Allied Industries Plc reported a decline in their earnings by 37.6 percent, 65.2 percent and 24.9 percent respectively.

The remaining three posted an increase in profit. They include BUA Foods Plc, Unilever Nigeria Plc, and Dangote Cement Plc which posted a combined profit of N171.9 billion, up from N152.6 billion.

Despite the decline in earnings, the manufacturers’ combined revenue rose 79 percent to N2.27 trillion from N1.27 trillion.

Analysts say the further devaluation of the naira coupled with rising interest rates led to increased operating costs for the companies, particularly the multinationals whose major costs are denominated in foreign currencies.

The naira suffered a near 30 percent devaluation this year following a 40 percent devaluation last June.

The naira devaluation put more pressure on the margins of companies already dealing with double-digit inflation rates and weak purchasing power of cash-strapped consumers.

“A lot of consumer firms had higher finance costs because of FX losses and higher interest rates,” Ayorinde Akinloye, a Lagos-based investor relations analyst, said.

“Despite some of them having good operating performance, their profit declined while others recorded huge losses,” Akinloye said.


Muda Yusuf, chief executive officer of the Centre for Promotion of Private Enterprise (CPPE), also attributed the rising losses of consumer goods firms to the movement in the exchange rate.

“They did not really incur a lot of FX losses last year because the exchange rate was still fixed in a way.

“The interest cost is still a bit straightforward because the tightening on the monetary policy has been consistent for almost two years and it got worse under the present CBN governor,” he added.

Financing costs, also known as the cost of finance, are costs, interests, and other charges involved in the borrowing of money to build or purchase assets.

In Q1, the firms’ finance costs jumped to N616.5 billion from N65.8 billion in the same period of 2023.

Further analysis shows that Nestle reported the highest finance cost of N218.8 billion followed by Dangote Cement (N123.2 billion), Dangote Sugar Refinery (N122.5 billion), Lafarge Africa (N23.1 billion) and Nigerian Breweries (N18.1 billion).

Borrowing cost surges nine-fold
The cost of borrowing is higher because all the banks have reviewed their interest rates in line with the monetary policy rate changes, according to Gabriel Idahosa, president of Lagos Chamber of Commerce and Industry.

“The cost of borrowing has been going up very quickly, and with the volume of working capital you need and linking the exchange rate, there’s a need to borrow more naira,” he said.

George Onafowokan, managing director/chief executive officer at Coleman Technical Industries Limited, said most manufacturing businesses have shrunk as the working capital or funds available to manufacturers have reduced by 40-60 percent.

“If the money for buying raw materials has shrunk by that percent and you don’t have enough dollars to back that up, it means a lower capacity utilisation for manufacturers,” he added.


The Central Bank of Nigeria (CBN) in March raised its monetary policy rate for the second straight time by 200 basis points to 24.75 percent in a bid to fight inflation. In February, the CBN had increased the interest rate by 400 basis points to 22.75 percent.

Before the rate was hiked to 24.75 percent, the apex bank had increased it by 750 basis points to 18.75 percent last July from 11.25 percent in March 2022.

Apart from the MPR hike, the liberalisation of the foreign exchange regime in June weakened the naira from N463.38/$ to N1,354.2/$ as of May 4, 2024. At the parallel market, the naira is being traded at around 1,410/$ as against 762/$ before the FX reform.


“Operating profit grew by more than 1000 percent, underlying the strong topline performance and rigorous cost-saving initiatives in the period,” said Uaboi Agbebaku, company secretary at Nigerian Breweries, in a statement.

“However, due to increased interest rates resulting from the upward adjustments in monetary policy rates and continued volatility in the foreign exchange market, the net loss in the period rose by about 391 percent versus the same quarter in 2023,” Agbebaku said.

Thabo Mabe, managing director at NASCON said the currency devaluation resulted in an “extraordinary” foreign exchange loss of N3.0 billion which depressed their profit after tax to N1.2 billion, a 25 percent decline from the previous year.

“The operational business environment is challenging but we are confident that we are executing a robust strategy that will ensure we surpass our prior year achievements,” he added.

Over the past eight years, Africa’s most populous nation has slumped into two recessions owing to the collapse of oil prices, disruptions caused by the COVID-19 pandemic, and an inability of the government to reform the economy.

Upon his assumption of office last May, President Bola Tinubu implemented bold reforms including the removal of petrol subsidy and naira devaluation to boost revenues for the welfare of its citizens.

However, the reforms have increased inflationary pressures to the highest on record and weakened the purchasing power of consumers, even as businesses grapple with higher operating costs.

Data from the National Bureau of Statistics shows that the headline inflation quickened for the 15th straight time to 33.20 percent in March, up from 31.70 percent in February.

Food inflation, which constitutes more than 50 percent of headline inflation, also increased to 40.01 percent from 37.92 percent.

Rising inflation and sluggish growth in one of Africa’s biggest economies increased the number of poor people to 104 million in 2023 from 89.8 million at the start of the year, according to the World Bank.

Business activity in Nigeria rose to the highest in three months in April 2024 as a result of the improvement in the strength of its currency.

The latest Purchasing Managers’ Index (PMI) also shows that business activity in the country improved marginally to 51.1 last month from 51.0 in March. Readings above 50.0 signal an improvement in business conditions, while those below show deterioration.

Earlier in the year, businesses had pinned hopes on a stronger naira and economy with expectations of improved FX liquidity playing a pivotal role in stimulating foreign inflows. However, the further devaluation towards the end of January affected those expectations.

“Two events are likely to play out for businesses whose inputs or liabilities are dollar-denominated. Some will shut down operations amidst the uncertainty in the FX markets. The sophisticated and competitive ones are likely to begin to budget and price their products in dollars to mitigate the impact of FX instability,” Temitope Omosuyi, investment strategy manager at Afrinvest Limited, said.

He said this is not good for Nigeria’s growth outlook, as economic activity could further deteriorate.

“The economy is becoming smaller in dollar terms, resulting in lower per capita income. This could suggest that the market is now less attractive.”

Experts say the unstable macroeconomic indicators have affected the medium and long-term plans of many businesses which could drive down profitability, lead to more job losses, low tax revenue, threaten the survival rate of many businesses, or trigger more exits of multinationals.

“Everything is going from bad to worse. No company, whether small or micro, can plan or project for the future now because they plan on stable indices. But how can they plan when they are not sure of what the dollar, the interest rates of the banks, or the inflation rate will be tomorrow,” said Femi Egbesola, national president of the Association of Small Business Owners of Nigeria.

According to him, many companies that seem to be alive today are sick and most of them are not making profits. “Many companies will still shut down because they cannot plan. About 10 million businesses have closed shop.”

Muda of CPPE recommended that from the policy perspective, there is a need to have a window for the real sector to have a more concretionary interest rate.

“That is why we need to double down on this development finance window to be able to support the real sector. The sector cannot survive on this market-driven interest rate unless those that are really big and have some monopoly powers,” he said.

© 2023 - Businessday NG.

OneCandleAway:
He's a black man that's why he can't read.

No, he's lazy upstairs

muyico:
did u also read it??

I read it over and over again before I posted it.Readers are leaders,learn to be patient to read contents

muyico:
who finished d reading? should plz summarizes everything for me here?

why can't you read

Squatters at Dolphin Estate in Lagos are trying to adjust to the reality of their displacement after the state government chased them away from their “abode” and cleared the shanties where they lived. Some of the affected “residents” narrated their ordeals to Daily Trust on Sunday.





The Dolphin Estate bridge was deserted on Thursday when one of our correspondents visited. A once bustling and busy slum has been turned to a ghost of itself, adding to the increasing number of displaced Lagosians battling the challenges of homelessness.

During the week, the Lagos State Government blew a cover of 86 apartments under the Dolphin Estate bridge, Ikoyi, where tenants reportedly paid N250,000 annual rent.

The state’s Commissioner for Environment and Water Resources, Tokunbo Wahab, disclosed this in a video post via his X account on Wednesday.


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, the commissioner wrote, “18 individuals squatting illegally under the bridge leading from Dolphin Estate were arrested yesterday, April 30, 2024 by the officials from the Lagos State Environmental Sanitation Corps, also known as KAI (Kick Against Indiscipline).


“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 illegal settlers under the bridge towards Dolphin Estate in Ikoyi.

Rotimi-Akodu said 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.

And 24 hours later, the government said it discovered another illegal settlement under the Osborne bridge in the Ikoyi area of the state.

Wahab, on his X handle on Thursday, stated that the Lagos State Environmental Sanitation Corps (LAGESC), popularly known as Kick Against Indiscipline), had begun an immediate clearance operation.

“Another illegal settlement was discovered under the Osborne bridge, Ikoyi. Lagos State Environmental Sanitation Corps @LAGESCOfficial commenced an immediate clearance operation,” he tweeted.


Our correspondents visited the Dolphin Estate bridge, Ikoyi and spoke to some of the displaced squatters.

Usman Hassan, a 75-year-old Ghanaian, was one of them. He was a teacher at Remo Divisional High, Ogun State before relocating to Lagos.

Also known as Baba Baraka, the Ghanaian said he was not around during the ‘attack’ by the Lagos officials and he lost some of his belongings to the onslaught.

Telling the story behind the apartment, he told Daily Trust on Sunday that, “The man who owned the place doesn’t force people, the engineers working in this company (referring to a company around) begged him for their workers to stay nearby so that when they needed them for work they would go to the place.

“I don’t know exactly how much he collects from them, but personally, he didn’t collect anything from me.

“For people paying, whether it is N250,000 or not, I don’t know.”

He explained that people found solace in the under-bridge apartments because “town is hard and they could not afford rent within Lagos.”

Hassan said, “You see, conditions are hard for people in the country and not everyone can afford houses in the town.

“I have been in this country since 1981 in Ogun State. I was a teacher at Remo Divisional High School for about 11 years before I came to Lagos.

“No work in town to survive on. This man pitied my condition and gave me space here (under the bridge). So, when this thing happened, I took my belongings and I am going again.”

Asked what is the hope for the future, he responded, “Well, everything is in the hand of God. Sleeping under the bridge is dangerous, but the condition of the country made people resort to this.

“As you can see, I don’t have a dime in my pocket.”

Also, Usena, a 12-year-old girl from Kogi State, said her elder sister brought her from the village. On how much residents there paid as rent, she said, “She is paying, but I don’t know the amount.

“I don’t really enjoy the place. I want a new house where I can stay with my parents in peace and enjoy ourselves.

“We had to stay under this bridge with my sister so we could raise money for a new house. My elder sister, who works in a supermarket, has been staying here for the past 20 years.”

Saheed Yusuf, a farmer, admitted that he paid an initial N40,000 and subsequently N20,000 quarterly to stay in the apartment.

“I have been staying there for about four years.

“Not all of us are paying. When I first got here, I paid N40,000, and after that, I started paying N20,000 quarterly. I have been here for four years.

“I am a farmer. I plant bananas around here. If you get to the other side you will see the plantation and vegetables I planted. I stayed here to be close to the farm.”

Also, Madam Eunice Johnson, who works at LAWMA, said she was not paying anything.

The latest displacement is just one out of the long list of displacements in the state as many people find it extremely hard to get decent accommodation in the city centre owing to the exorbitant prices of rent.


From Otodo Gbame, Oworonshoki to other places, the state government said there was the need to sanitise the environment and maintain the urban master plan of the state. But observers said this had only added to the woes of homelessness in the state in the absence of a social housing policy that caters for the poor of the poorest.

Several reports estimate that the housing deficit in Lagos sits at over 3 million and the available houses are out of the reach of the low-income and middle income earners, forcing many Lagosians to adopt unconventional approaches to solving the accommodation challenge under various bridges. The government had earlier cleared squatters under Obalende bridge and more people are in awe of the impending displacement.


Deji Akinpelu, co-founder, Rethinking Cities, whose organisation has raised concerns severally over the ongoing displacement in Lagos, insisted that the absence of a social housing policy had worsened the plight of the poor people in Lagos.

According to him, it is easier to dislodge the squatters, but a comprehensive strategy to bridge the housing deficit should be adopted.

Speaking with Daily Trust on Sunday, Akinpelu said, “As a government, you need to understand that there is a situation called homelessness, and homelessness is not a crime. There is homelessness all over the world and every responsible government has a policy about homelessness.”


According to him, the government must be able to leverage on partnership with non-governmental organisation, the private sector to tackle homelessness for the people.

“What is shocking for me is the fact that the government went on site and found out that some people are paying N250k per annum. What does that say to you as a government if you are trying to investigate who is collecting the money? It is not about who is collecting the money that is a problem, it is the fact that these people have a minimum of N20,000 per month to be paying for housing. That means there is a structure for housing that can be created for these people to be finding their level within a N20,000 home rental.


“It doesn’t take any intelligence to do what the commissioner is doing – going to chase them out of those places. The real hard work is when you build homes, not LAGHOMS but special structures to address the issue of homelessness across different local governments through partnerships. There is funding, there are opportunities to address the issue of homelessness. There is a design that is available. You build the homes and move the people into the homes and profile them—‘Where are you from? What do you do? Where do you work? And so on. There is no data on this.”

He said it was regrettable that people are living under the bridge when there are infrastructures that are not occupied. “People are homeless and you have empty state infrastructure and there is no plan,” he added.

He also dismissed the claim of arrest of the squatters, saying that is tantamount to criminalising homelessness, even as he added that environmental management should not be addressed from the prism of law alone.

“I don’t understand it. Is it that becoming homeless now is illegal? Environment is not just based on law, it is about understanding the city. I think the commissioner needs advisers who are urban planners to also help because he only sees things from an illegality perspective. He doesn’t see it from a town planning perspective or a responsive government.”


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The governorship candidate of the Social Democratic Party (SDP), in the last election in Delta State, Olorogun Barr Kenneth Omemavwa Gbagi, FNIM OON, is dead.

Gbagi, a former minister of Education and an industrialist died at the age of 62.

The foremost Criminologist and senior lawyer died on Saturday, May 4th 2024.


A statement signed by his eldest son, Chief Emuoboh Gbagi on behalf of the Gbagi family, confirmed his death.

According to the statement “It is with profound sadness but gratitude to God, that we announce the passing of our beloved father, grandfather, husband, and brother, Olorogun (Barr.) Kenneth Omemavwa Gbagi, FNIM, OON; Former Minister of Education, who departed this life on the 4th of May 2024 at the age of 62.

“We take comfort in the fond memories of his life, his achievements, and the impact he made on the lives of countless individuals and communities.


“We kindly request your thoughts and prayers for our family during this challenging time of loss.

“May his soul rest in perfect peace”, the statement added.



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