Fresh revelations at the Senate plenary, on Tuesday, indicated that ranking senators got N500m each for their constituency projects in the 2024 budget passed by the National Assembly..

According to the Senate rules, any lawmaker who has spent at least a term in the House of Representatives or Senate, is considered a ranking senator.

On the list of senators in the 10th Senate, at least 34 of them are ranking. With the revelation at the plenary on Tuesday that senior senators got N500m each, the ranking senators, must have got a total of N17bn as their constituency projects votes.

Senator Jarigbe Jarigbe (PDP, Cross-River North), during the debate of the motion on breach of privilege moved by Senator Olamilekan Adeola (APC Ogun West) against Senator Abdul Ningi (PDP, Bauchi Central) over Ningi’s interview with the British Broadcasting Corporation (Hausa Services), alleged that senior senators got N500m each.

Ningi was suspended for three months on Tuesday. He also resigned as the Chairman of the Northern Senators’ Forum

Jarigbe’s revelation led to a rowdy session at the plenary with some senators denying collecting the amount.

Jarigbe later clarified, in an interview on Arise TV that the money was for constituency projects, not for personal palliatives of the Senators.

Adeola had come under orders 9, 10, 41, and 51 to move a motion of privilege and issue of national importance against Senator Abdul Ningi (PDP, Bauchi Central) over Ningi’s interview with the BBC (Hausa Services)

Ningi, in the BBC interview on Friday, alleged that N3.7tn was not tied to specific projects in the 2024 budget.

Also, at a press conference on Monday, the senator insisted on the allegation, adding that he was not afraid of suspension.

Contributing to the debate on Tuesday, Jarigbe said issues about the missing N3.7tn as alleged by Ningi had been clarified under the Government Owned Enterprises and the first line charge.

He said, “I thought this issue should have ended when the chairman of the Committee on Appropriation explained that the N3.7tn was under GOEs and the first line charge.

“That explains everything.We are going back and forth on this issue and coming up with the issue of budget and individual issues concerning what comes into our various constituencies.

“If we want to go into those issues, all of us are culpable. Some senators here—the so-called senior senators—got N500m each. I am a ranking senator, but I didn’t get it. Did I go to the press? Most of you here got it.”

However, when given another chance to speak, he clarified that it was Ningi who told him that some senators got N500m.

Jarigbe said, “This is an important clarification. I was speaking when the microphone went off. I was told by Ningi that some ranking senators got N500m. Ningi came to me and said that there were discrepancies in the budget and I told him that let’s go to the Senate President.

He explained further, “Senator Yayi (Adeola) has cleared the air on the N3tn, so there is no padding anywhere. Senator Ningi told me that he got N500m worth of projects in the budget. I said Senator Ningi shouldn’t be the one speaking about certain things.’’

‘N500m for projects’

But Senator Opeyemi Bamidele (APC, Ekiti Central), stated that though the senators got N500m, it was for constituency projects.

“I was going through online and it’s trending that every senator got N500m here today and I am not going to deny anything. My appeal to Nigerians today is not about what was said here today because I am not going to deny that.

“But we have 12 months to implement this budget and see whether any of these senators here will not implement boreholes, enough solar street lights, road construction, training, and empowerment that will not be up to N500m.”

Meanwhile, Bamidele alleged that Ningi planned a coup against the President of the Senate, Senator Godswill Akpabio.

He said, “What Abdul Ningi wanted to do was tantamount to a civilian coup. It is always about Akpabio, never about the House of Representatives or the President. It is not about North and South, it is about our rules.

“I am speaking as Bamidele, not as a Senate Leader. The last time a South-South person was ever given the opportunity to become president was over 40 years ago. We have another peaceful Senate, but why is it always about Akpabio?”

Bamidele went ahead to state that “we must do this right. He (Ningi) said some of us got N100bn, why do we need an apology? If I have anything here, it is not money put in my pocket, they are for constituency projects. Let us do the right thing.”

Senator Sani Musa (APC, Niger East), however, expressed disappointment over the actions of Ningi and Kawu saying, “Any discovery that I have not seen, to me it is not a discovery.

“Distinguished Senators Ningi and Kawu, I am not a second-class northerner. If there is anything that happens in the Northern Senators Forum, they do not inform me. If anybody says he has seen anything, provide the evidence.

“But when I saw the post from Senator Sumaila Kawu, I was disappointed. We will deal with the budget, but we have to also deal with our ethical standards in this Senate.”

Ningi denies padding

In his defence, Ningi stated that he never mentioned padding in the 2024 budget.

“I have never issued a statement of this to anybody anywhere and anytime. What is being forwarded is the distorted version of what I said. Mr Chairman, you would recall last Tuesday that Kawu and I said we wanted to have an audience with you.

“The Northern Senators’ Forum met with you on Tuesday and this copy is with me. I am the only one who has a copy of our findings. At the end of our conversation, you said that the way the budget was brought to us didn’t allow us to vet it accurately.”

Ningi stated that in the BBC interview, he never mentioned Akpabio and budget padding.

“I know that the budget was increased by N1.2tn, but I am not aware of the National Assembly budget or what was increased. We discovered some anomalies.

“Some things were repeated in the budget, Some senatorial districts have N120bn, some N50bn, some N30bn while my senatorial district just has N2bn and others have less than N1bn. I do not know the takeoff pay of the Senate President while you know mine,” he stated.

Ningi, during an interview with the BBC Hausa Service on Saturday, alleged that the budget passed by the National Assembly for the 2024 fiscal year was N25tn, while the one being implemented by the Presidency was N28.7tn.

In the interview, he was quoted to have said, “For the first time in Nigerian history, today we are operating two different budgets. One budget was approved by the National Assembly and signed by President Bola Tinubu and the one was implemented by the presidency.

“The one approved by us is N25tn while the one being operated by Federal Government is N28tn

“Apparently, we discovered N3tn was inserted into the budgets for projects without locations. This is the highest budget padding that happened in Nigerian history under Senator Akpabio’s watch.”

The Bauchi senator was further quoted to have said, “We resolved as the peoples’ representatives to see President Tinubu on this issue, with facts and figures, to ask him if he is aware of this embarrassment or not, then from there we will take action.

“Let Nigerians be patient with us. This is a national issue; it affects all Nigerians irrespective of party, tribe or religion.”

Also commenting on the matter on Tuesday, Senator Ali Ndume said the issue was about the integrity of the Senate.

He said, “This is about the integrity of the Senate. It’s beyond Ningi. Ningi was wrong. At first, they said the budget was skewed against the North and I said this thing was wrong. I asked them if they were sure that the North was short-changed.

“I told them to bring the budget, I expected Ningi to apologise to the entire Senate because the figures he was looking for are captured in the budget. N3tn isn’t missing and Ningi should apologise to us.”

Meanwhile, Senator Jimoh Ibrahim noted that he wouldn’t back down on his move to request the prosecution of Ningi over breach of peace.

‘No N500m largesse’

On his part, the Chairman of the Senate Committee on Media and Public Affairs, Senator Adeyemi Adaramodu, while briefing journalists after the Plenary, said no senator got N500m as palliative.

He said the Senator who raised the issue had recanted, claiming that he also got the information as a rumour somewhere.

He said, “There is no N500m largesse anywhere. The senator who raised it had since recanted claiming that somebody told him somewhere.”

A 30-year-old graduate of the Federal Polytechnics Nekede in Imo State, Nerus Elemamba, has allegedly committed suicide.

His body was reportedly found dangling in his room on Monday evening in his village in Umuohii, Oboama community in the Ezinihitte Mbaise Local Government Area of Imo State.

He reportedly committed suicide after participating in the day’s village manual labour earlier by his peers.

A source who spoke to our correspondent in confidence on Tuesday morning said that the deceased, who studied Architecture in school, didn’t show any sign of depression.

The source said, “The young man, Nerus, is from Umuohii Village in Oboama Ezinihitte Mbaise Imo State. He took his own life yesterday (Monday) evening.

“The reason for his action is unknown to anybody.

“He is a graduate of Architecture from the Federal Polytechnic in Nekede. Until yesterday (Monday) morning, he was very healthy and participated in the village youth manual labour.

“Later that same yesterday (Monday) evening, his body was found hanging in his bedroom.”

Another source disclosed that the deceased didn’t leave any suicide note.

The source explained, “Nerus Chinaechenwa Elemamba, second son of late Mr Cajethan Elemamba, was yesterday (Monday) evening found dead, hanging himself in his own room.

“Nerus participated in the youth manual labour work yesterday (Monday) morning, looking very healthy before the unfortunate scenario occurred.”

The village youth leader, Iheukwumere Ibeh, spoke to our correspondent on Tuesday morning and said that the villagers were shocked by the development.

He revealed that the victim was being buried after the necessary cultural rituals had been successfully carried out.

The youth leader said, “This is shocking. Nobody knows the reason for his actions. He didn’t leave any note behind. He was not married. He is between 30 and 31 years of age. He was not taken to a mortuary. He is being buried as we speak. This is after the required cultural rituals to appease the land have been carried out.”

When contacted, the spokesperson for the police in the state, Henry Okoye, said that he had yet to be briefed on the incident.

President Bola Tinubu on Tuesday submitted the 2024 budget for the Federal Capital Territory Administration to the House of Representatives for consideration and passage.

Mr President’s letter seeking the passage of the budget which was read on the floor of the House during the plenary session on Tuesday, was however silent on the estimates.

The letter reads: “In line with the provisions of sections 121 and 299 of the Constitution of the Federal Republic of Nigeria, 1999, the Honourable Minister of the Federal Capital Territory has prepared the 2024 budget proposal of the FCT which is here before you for the consideration and approval by the National Assembly.

“The proposal has been prepared based on the FCTA revenue and expenditure focus and is in line with the fiscal and development policy of the federal government and the Renewed Hope Agenda.

“In addition, the budget proposal takes into consideration, the 2024/2026 economic recovery and growth plan as well as key assumptions in the 2024 budget

“The FCTA is prioritising improvement in health care services, job creation, youth empowerment, and increased productivity in agriculture to lift many citizens as much as possible out of poverty.

“I hereby forward the 2024 statutory budget proposal of the FCTA and I trust that it will receive the kind consideration and expeditious approval of the House of Representatives. Please accept the assurances of my highest regards.

After reading the letter, the Speaker, Abbas Tajudeen who presided over the plenary directed that the request be forwarded to the Committee on Appropriation for deliberation ahead of its budget passage.

Boxing legend, late Muhammad Ali, famously known as “The Greatest,” will be inducted into the WWE Hall of Fame Class of 2024 ahead of this year’s WrestleMania festivities in Philadelphia, Pennsylvania, on April 5, according to Foreign news outlet, Variety on Monday.

Ali, a three-time World Heavyweight Boxing Champion and Olympic gold medalist, captivated audiences worldwide.

His influence transcended sports, as his work as an activist, artist, and personality established him as a renowned figure.

On June 26, 1976, he participated in “The War of the Worlds,” an exhibition match against Antonio Inoki at the Nippon Budokan arena in Tokyo, Japan.

The event, held under specific rules, ended in a 15-round draw, captivating 32,000 spectators in attendance and garnering significant viewership via closed-circuit television, including 33,000 fans at Shea Stadium in Queens, New York.

This event is often regarded as a precursor to modern mixed martial arts, further underlining Ali’s influence.

Despite retiring from boxing with an impressive record of 56-5, including 37 knockouts, Ali continued his association with combat sports. He notably served as the special guest referee for the inaugural WrestleMania in 1984, officiating the main event between Hulk Hogan & Mr. T and “Rowdy” Roddy Piper & “Mr. Wonderful” Paul Orndorff.

Ali’s pivotal moment in the match, delivering his signature right-hand punch to Piper restored order and left an indelible mark on the event.

Ali died on June 3, 2016, aged 74, marking the end of an era, but his legacy as one of the greatest athletes of all time endures.

The Shell Petroleum Development Company of Nigeria Limited said it has completed the supply of 475,000 barrels of crude oil to the Port Harcourt Refining Company Limited.

The SPDC said this was in furtherance of the Federal Government’s commitment to increase domestic refining capacity and make petroleum products more readily available in the country.

A statement by Shell Nigeria’s Media Relations Manager, Abimbola Essien-Nelson, on Monday disclosed that the company, “through its Bonny Oil & Gas Terminal has completed the supply of over 475,000bbls of crude oil to the Port Harcourt Refining Company Limited.”

According to Essien-Nelson, BOGT resumed the supply last week after a prolonged outage of over five years, during which time the Port Harcourt refinery underwent rehabilitation and integrity activities on its supply pipeline from Bonny Oil & Gas Termina.

Country Chair, Shell Companies in Nigeria and Managing Director, Shell Petroleum Development Company of Nigeria Limited, Dr Osagie Okunbor, had said, “Teams from BOGT and PHRC worked through intensive preparations, collaboration, and dedication to make the project successful.

“This is indeed a significant step in the nation’s renewed efforts to utilise key infrastructures to assure the steady supply of products from the refining company to the Nigerian market.”

Okunbor added, “Future supplies from BOGT would be guided by the demand for the product.”

Also, the Bonny Terminal Installation Manager, Osita Nnajiofor, was quoted as saying that before implementing the supplies of the product to the refining company, the project teams first assured the integrity of pipelines relevant to the Nigerian National Petroleum Company Limited subsidiaries, as well as the integrity and maintenance activities on the BOGT refinery export pumps, which had been shut down for an extended period.

Nnajiofor explained, “These actions resulted in the successful and safe completion of the refinery supply with no harm to people, environment, or equipment.

“The recommencement of crude oil supply from the Bonny Oil and Gas Terminal to the Port Harcourt Refining Company Limited is a significant achievement and a game-changer for the industry and the country and will support the Federal Government’s aspiration of a steady supply of petroleum products to the downstream market and other associated benefits to the economy of the nation.”

Earlier the NNPCL has recently made known its decision to hand over the rehabilitated Port Harcourt refinery to private operators.

The Ogun Traffic Compliance and Enforcement Corps, on Sunday, said no fewer than 192 people died while 929 got injured in various accidents in Ogun State in 2023.

The spokesperson for TRACE, Mr Babatunde Akinbiyi, gave the figures in an interview with newsmen.

Akinbiyi explained that from the deaths recorded, 146 were male while 46 were females from the 630 accidents recorded in the year under review.

He noted that the figures were from areas covered by TRACE and the police joint rescue effort and services.

The TRACE spokesperson noted that 643 males and 286 females were Injured in various crashes across the state during the year.

“We recorded 361 motor vehicles, 114 buses, 446 articulated vehicles, 58 motorcycles, nine tricycles and 34 pedestrians involvement in various accidents in 2023.

“Comparing years 2022 and 2023 in the state, road traffic deaths increased by 9.09 percent in the year 2023 while the number of persons injured reduced by 12.44 percent,” he said.

The Alara of Ara in the Ikole Local Government Area of Ekiti State, Oba Adebayo Fatoba, has narrated how he managed to escape from gunmen who attacked and killed two of his colleagues last Monday.

Fatoba, along with two other monarchs from the state – Onimojo of Imojo Ekiti in Oye LG and the Elesun of Esun Ekiti in Ajoni, Ikole Local Government of Ekiti State, were attacked by the gunmen while returning from a meeting.

The other two monarchs were killed by the assailants while Fatoba was lucky to have escaped.

Narrating the ordeal to Awikonko TV Live, in a video seen by our correspondent late Sunday, Fatoba stated that the community had sought permission from the state police to tackle herders who have been attacking the communities.

“I was reading something on my phone when I suddenly felt that the driver slammed the brakes. As we looked up, we saw guns pointed at us. If they were kidnappers, they would ask us to get down, raise our hands and so on.

“I wish I could show you my body, you would have seen the cuts,” Fatoba stated, adding that he still feels the pain from the attack.

The monarch narrated that he managed to escape from the scene, stating, “I noticed that they didn’t understand English. They were with a big machete and they had other ones too. I saw an AK-47, a pump-action gun and a locally-made one.”

The monarch recalled that as he wanted to get out of the vehicle, one of the assailants tried to hit his head with a weapon but he used the door to protect himself “so it was the door that was hit.”

“It was a war zone,” he added.

According to Fatoba, he could hear the sound of gunshots behind him as he ran.

“People who said that I disappeared, I want them to know that it is a lie. I ran to the security guards that we put in that area because it had been a hotspot. I wanted to get to them,” he said.

He said when he got to one of the security guards, he asked him to shoot into the air but the gun jammed.

Fatoba further added that due to fear, the guards couldn’t come near them for a rescue operation.

When asked how the driver was not killed, he said, “They didn’t concentrate on the driver. He wore a shirt and had a small stature. They only collected the car key. They killed the others,” he said ruling out notions that he and his driver escaped with the aid of spiritual power.

The monarch added, “What happened was that they first came to me. Two came out from my right side and one from the left side. They came aggressively. The moment they collected the car key from my driver, they left him. He prostrated on the floor with his hands on the ground.

“As for me, I fought my way out and they shot. I heard the gunshots. God didn’t allow the shots to hit me. By the time I looked back, my colleagues were on the ground. I don’t know how that happened. Some cars that were behind us had to reverse.

“I was reading something on my phone at the time, so the attack came as a surprise. I lost my phone but the security guard had the phone number of the monarch whose community was close by. It was the monarch who mobilised more security guards to meet us there.”

However, the Ekiti State Police Command said its operatives have arrested one suspect linked to the killing of the two traditional rulers.

The Assistant Inspector-General of Police, Dare Ogundare, said that the suspect, Babusa Lede, had confessed to involvement in the killing of the two monarchs, adding that efforts were on to apprehend others involved.

The Nigerian Army said its troops rescued 32 kidnap victims during a search-and-rescue operation in Katsina State.

The Information Officer of Operation Hadarin Daji, Yahaya Ibrahim, in a statement on Tuesday, disclosed that the troops also killed two suspected terrorists during the operation on Saturday.

Ibrahim stated that the troops engaged the terrorists in a gun duel which led to the death of two suspected terrorists while others fled with injuries.

He said, “In continuation with the series of simultaneous well coordinated clearance operations in its areas of operational responsibilities in the North West which has continued to yield tremendous successes, troops of the Joint Task Force North West Operation Hadarin Daji operating in Katsina State have rescued 35 kidnapped victims and neutralised two terrorists in Katsina State in a search and rescue operation.

“The feat was achieved on January 27, 2024, during a clearance operation to some identified terrorist camps at Dumburum forest. During the operation, troops had an encounter with the armed terrorists, neutralising two of the terrorists while others escaped with severe gunshot wounds.”

Kidnap victims
He added that the rescued kidnapped victims including 19 male adults, 12 female adults, and four children were handed over to the Katsina State Government by the Commander, 17 Brigade Nigerian Army/Sector 2 Operation Hadarin Daji, Brigadier General OA Fadairo.

Fadairo was said to have pledged to continue the attack on the terrorists’ enclaves.

PUNCH Online reported on January 4 that troops of the Joint Task Force North West, Operation Hadarin Daji, have neutralised 10 terrorists and rescued nine kidnapped victims between Zamfara and Katsina States.

They also recovered arms and ammunition including operational motorcycles and communication gadgets.

Similarly, the troops on December 23, 2023, rescued 52 kidnap victims in Isa Local Government Area of Sokoto State.

The rescued victims include 14 males, 32 females and six children who will undergo medical check-ups, debrief and hand over to appropriate authorities to reunite them with their families.”

In a related development on November 23, 2023, the same troop rescued 31 kidnapped persons in different areas of Sokoto State.

The army disclosed that the troops, under the command of the General Officer Commanding 8 Division Nigerian Army, Sokoto, Major General Godwin Mutkut, have continued to intensify the onslaught and conducted a series of clearance operations to terrorist enclaves in its areas of operations in the North West.

The Economic and Financial Crimes Commission says the Chairman of Ibeto Energy Development Company, Cletus Ibeto, charged with N4.8bn alleged fraud, has approached the commission seeking to settle the case out of court.

The EFCC charged Ibeto alongside his companies, Ibeto Energy Development Company and Odoh Holdings Ltd, with 10 counts, bordering on conspiracy, fraud, forgery and fraudulent use of documents.

But Ibeto has failed to appear before the Lagos State High Court in Ikeja for his arraignment.

Justice Ismail Ijelu, on November 3, 2023, ordered his arrest after he failed to appear before the court on four different occasions to take his plea, despite repeated hearing notices served on him.

However, the defendant approached the Appeal Court to seek the nullification of the arrest warrant issued against him by the court.

Meanwhile, at the last hearing of the appeal, Ibeto’s lawyer, Wole Olanipekun (SAN), leading two other Senior Advocates of Nigeria, Uche Obi (SAN) and Bode Olanipekun (SAN), informed the court that they were prepared to proceed with the hearing of the appeal.

But counsel for the EFCC, Rotimi Jacobs (SAN), instead informed the court that there were serious indications by the parties to have the matter settled amicably out of court and suggested that a chance be given to such initiative instead of proceeding with the hearing of the case.

“Ibeto has approached the EFCC seeking to enter a plea bargain arrangement and has also stated that he would pay back the money he obtained from the nominal complainant, Daniel Chukwudozie,” Jacobs said.

Following the development, the three-man panel of the Court of Appeal, led by Justice Muhammed Mustapha, adjourned the case till May 7, 2024, for the hearing of interlocutory applications and the main appeal.

Other panel members are Justice Folashade Ojo and Justice Abdullahi Bayero.

The Nigeria Labour Congress on Thursday tackled President Bola Tinubu over the economic hardship in the country, which it said was worsening.

The President of the NLC, Joe Ajaero, who faulted Tinubu’s economic reforms at the 21st Daily Trust Dialogue in Abuja, warned the President against heeding the advice of the World Bank and International Monetary Fund.

But the Minister of Information and National Orientation, Mohammed Idris, who was at the event, faulted Ajaero’s criticism.

He assured Nigerians that they would soon start enjoying the benefits of the reforms of the President.


Also, the President’s Special Adviser on Information and Strategy, Mr Bayo Onanuga, in an interview with The PUNCH, said the President’s economic reforms were pro-Nigeria and aimed to stabilise the economy and restore the ailing naira to its true value.

Following Tinubu’s removal of the fuel subsidy on his assumption of office on May 29, 2023, prices of goods and services went up.

He justified the decision by saying the government could not continue to subsidise fuel with billions of naira which he promised to invest in infrastructure and other social development programmes.

In protest, the NLC and Trade Union Congress held a street rally over the increasing cost of living due to government policies, especially the removal of the subsidy on petrol.

To address the forex crisis and boost liquidity, the government through the Central Bank of Nigeria, abolished the multiple exchange rates which collapsed into the Investors and Exporters.

However, the policy change has failed to yield the expected results as the forex crisis, which started under the Muhammadu Buhari administration, worsened with the national currency now exchanging for over N1,400 per dollar.

But on Thursday, the NLC president took a swipe at the policies of the Federal Government, noting that Nigerians were the losers in the economic programmes initiated by the President.

Speaking on the theme, ‘Tinubu’s Economic Reforms: Gainers and Losers,’ Ajaero cautioned the President against implementing IMF policies, noting that listening to the Bretton Woods institutions had never helped Nigeria.

IMF-driven

Addressing the audience which included a former Chairman of the Independent National Electoral Commission, Prof Attahiru Jega, Deputy Governor of Katsina State, Faruq Jobe, ex-Presidential spokesman, Garba Shehu, Senator Shehu Sani, and others, he argued that many of Tinubu’s reforms were the policies of the World Bank and the IMF.

He cited the hike in fuel pump prices which he said was a World Bank’s idea.

“Reforms are meant to be accepted by the people and such reforms are supposed to yield results for the people. When it is the other way around, it becomes information. Many of the Tinubu’s reforms are just policies of the World Bank and the IMF,” he said.

The NLC chairman, who was a panellist at the event, said it was not too early to measure the indices of failure and winning.

He stated that the masses were the losers because the price of fuel had become almost unaffordable to Nigerians.

He stated that fuel which hitherto sold at N187 per litre now dispenses for N700 per litre while the salaries remained the same.

“Some of the policies we are talking about today seemed to be emergency policies. I am going to talk about how the policies affect the common man on the street. I am here as a representative of the losers,” stated.

Ajaero lamented the closure of businesses in the country as he lamented that Nigeria is the poverty capital of the world.

Touching on Tinubu’s key economic policies of subsidy removal and naira devaluation, Ajaero stated that it took eight years for the naira to fall from N260 per dollar to N700 per dollar under former President Muhammadu Buhari, but under Tinubu, the national currency fell from N700 per dollar to N1,350 per dollar within six months.

He lamented the increasing debt profile of the country. “Who do you think will pay it?’’ he asked.

“I know they tell you that you have to suffer a bit so you can gain, but it has been the same story since forever,” he said, as he called for a review of all government policies to know what works and what does not, noting that the country’s situation is getting worse.

“I think the Tinubu’s administration should look at all these things holistically so we have a good master plan to drive Nigeria, we need policies to keep people in their jobs and not the other way around. The situation will continue to worsen until there is a policy reversal,” he concluded.

He submitted that the steps taken so far to cushion the effect of the fuel subsidy removal have not been felt by the people.

Instead of helping Nigerians, the labour leader insisted that Tinubu’s policies have deformed the workers.

He noted, “Unfortunately, we do not see courage in actions that pillage the people, rather, we see cowardice in bowing to the pressures of foreign interests (IMF and World Bank) against that of your own people. That is not what reforms look like but it is exactly what the path to deforming a people and a nation looks like.’’

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Reprimanding the President who has been accused of running a large and ostentatious government, the NLC leader asked him to reduce the cost of governance, noting that any reform that did not address this cardinal issue is deceptive.

Any reform that does not deliberately reduce the cost of governance in Nigeria by at least 50 per cent is deceptive,’’ he pointed out.

Speaking further, he stated, “You therefore ask yourself, how did we come to this sorry pass? Why have they refused to allow the refineries to work? Who are those sabotaging the refineries and thus our economy? Why is it difficult for the government to repair or refurbish its own refineries?’

“One of the controversial measures undertaken by the Tinubu administration was the hike in the price of petrol in the guise of the elimination of subsidy on Premium Motor Spirit.

“The purported aim was to reduce government spending and redirect resources to other critical sectors. What are the immediate and long-term effects of these measures on the economy, inflation rates, and the cost of living.’’

“The truth is that when you find out those who are benefitting from the shutdown of our refineries, they are the ones benefiting from the grievous distortions in the downstream sector of the oil and gas industry in Nigeria,” he added.

He listed inflationary pressures, transportation costs, and cost of living as some of the effects being felt by Nigerians, referencing the rise in the prices of essential goods and services precipitated by increased transportation costs.

Businesses shut

“Many businesses have been shut down and many more are planning to leave as a result of the increasing hostile operating environment for businesses in Nigeria.

“The palliative economy or the feeding bottle economy which runs on the creation of hardship then giving of a little token to cushion its effect has created a league of treasury looters and they are smiling to the bank.

“The various scandals as witnessed during the last government where billions of dollars were frittered away in the name of humanitarian affairs have worsened; the huge sums in private accounts and the flights from Abuja to Lokoja are still with us,’’ Ajaero stated.

Coming short of writing off the reforms of the present administration, the NLC boss noted that as long as the majority of Nigerians are living in poverty, there is nothing to cheer about.

Ajaero also chided the Federal Government’s move to sell off public assets, saying, “They are talking about privatisation; 99 per cent of privatised companies have disappeared. And we are sustaining it. You sold your house for N2m and you gave the buyers N10m to repair it. That is a prodigal economy.’’

Citing the situation in the power sector, he added, ‘’All the Discos have been taken over by banks. The banks are running the power sector and you want it to work? I think the Tinubu government should look at all this holistically.’’

Responding to Ajaero’s criticisms, the Minister of Information and National Orientation, Idris, assured Nigerians that the vision of President Tinubu was to provide succour to Nigerians, revamp the economy, and return the country to prosperity.

He asked for more time for policies to bear fruits.

He said the N35,000 wage award being implemented by the Federal Government would be paid to workers.

Idris stated, “The N35,000 wage award, I know that there were some technical disruptions in the way it was implemented but I can tell you that the President is committed to ensuring that every kobo meant for the wage award is paid to entitled federal workers. The Federal Government has insisted that it has made a commitment.

“There was also the issue of the palliatives that we talked about. Now because fuel subsidy almost went away abruptly, there was the need to cushion that effect in the short term. The government is not saying every economic policy will be an emergency one or the one driven by palliative.

“What it sought to address was important that people have an immediate cushion to what was happening before a long-term solution was proffered. So it’s not all gloomy, it is not all emergency.

“Of course, if you have an immediate shock, it is important that you have first aid before a long-term solution is being proffered and that is being done jointly with labour itself.’’


A former Minister of Finance and National Planning, Shamsudden Usman, who chaired the event, said the average Nigerian seemed to be the loser in the fuel subsidy removal policy.

“Where are the palliatives? This is a valid question to ask. How well are they being implemented? Buses were promised, but where are they?

“It is not too early, but one thing the President is showing is that this is a sensitive government and he is listening. When people complain about certain things, the government listens and takes action,’’ he counselled.

He described the constant collapse of the power grid as a disgrace, noting that it was unheard of.

The President’s Special Adviser on Information and Strategy, Mr Onanuga, said the President’s economic reforms of the past eight months are pro-Nigeria and aimed to stabilize the economy and restore the ailing naira to its true value.

He said Nigerians would soon see the wisdom in Tinubu’s policies.

Onanuga said, “If anybody says they do not see any discernable economic blueprint that is pro-Nigeria, then the person is living somewhere else.


Presidency explains reforms

“Since the President began his reforms, yes, there have been problems and this government has been up and doing trying to improve things, to ameliorate whatever problems emerge and it is still doing all that.

“The government believes that the policies it introduced are in the best interest of our country. The government is aware that yes, there will be temporary pains, but those pains will not last for long. Soon, people will see the wisdom in what has been done.”

The Presidency justified the fuel subsidy removal, saying it did not benefit Nigerians.

“Is it about subsidy removal? Everybody knows that before Tinubu came to office, some Nigerians were making billions and billions from smuggling what we call subsidised petrol, and at the end of the day, the government was made to pay for the subsidy which Nigerians were not really enjoying.

“President Buhari had already planned it by law to remove that subsidy by the end of June 2023 anyway.

“What Tinubu did was just to accelerate the time. Instead of waiting for one whole month of another dreaded waste of money, he said, there is no point in waiting. It is better to do it once and for all from day one,” the presidential aide explained.


Onanuga described the currency reforms, particularly the unification of the exchange rate and shoring up the value of the naira as a “work in progress”

He noted, “Everybody knows that is still a work in progress. The figure we got is that when (ex-CBN Governor Godwin) Emefiele was there, Nigeria was spending about $1.5bn every month shoring up the value of the naira viz-a-viz other world currencies.

“The government decided to say there is no point in subsidising again so that Nigerians can get cheaper dollars. You know, the process was being abused through round-tripping and all that. So, what we are doing now is work in progress.”

He cited earlier remarks by the CBN Governor, Yemi Cardoso, who spoke, at a forum by the Nigeria Economic Summit Group, about efforts to stabilise the local currency.

“Only yesterday, the CBN Governor talked about the plans of the CBN in conjunction with the Ministry of Finance and NNPCL to ensure that the naira gets its real value.

“What we have now is artificial from the black market rating. It is just the work of speculators. Nigerians are even speculating on their own currency, not having faith in our naira.

“The CBN has said it is going to put in place a multi-pronged approach to ensure that the naira gets its real value. In the opinion of the CBN, the naira is undervalued,” he told our correspondent.


Speaking in a phone interview with The PUNCH, the Peoples Democratic Party deputy spokesperson, Ibrahim Abdullahi, lamented that the APC government had failed to cut down the cost of governance despite the economic hardships they have subjected Nigerians to.

He stated, “The APC Tinubu-led administration does not have any economic policy that can turn things around for Nigerians. Indeed they don’t have one, if they did, we would have seen different policy directions, they would have been turning them out.

“We haven’t seen much of what this government is going to do. Since the withdrawal of subsidy, Nigerians have been thrown into hardship and penury, but if there is concomitant policy direction to assuage the suffering of Nigeria, it would have made sense and by now we would have seen it.’’

“Increasingly, every morning, Nigerians are getting deeper into poverty, insecurity and penury. So the economy is going through the hardest of all times.

“Isn’t that clear that all the foreign organizations that are teleguiding them have failed? So, the indication is that yes, there is no direction, IMF/World Bank and Western worlds are teleguiding the APC administration.’’

The Labour Party Spokesman, Ifoh, stated that the corruption allegedly ongoing in the government would plunge the nation into more economic crises.

He stated, “They removed the subsidy, yet failed to cut down the cost of government. They are running a flamboyant government, while Nigerians are in hardship. From the appointments they made, you can see that cronyism was their major driving point. And some of them are already practising corruption to fill their pockets.’’

The World Bank has predicted that Nigerian Gross Domestic Product will grow by 3.7 per cent in 2025.

The World Bank in its latest report titled “Global Economic Prospect: Subdued Growth, Multiple Challenges”, projected that the African largest economy will improve by 3.3 per cent up from a projected 2.9 per cent for 2023.

The report stated, “Growth in Nigeria is projected at 3.3 per cent this year and 3.7 percent in 2025—up 0.3 and 0.6 percentage points, respectively, since June—as macro-fiscal reforms gradually bear fruit.

“The baseline forecast implies that per capita income will reach its pre-pandemic level only in 2025.”

The Washington-based bank attributed the momentum to the gradual realisation of the current macro-fiscal reforms.

Since the assumption of office by President Bola Tinubu, he has initiated some reforms, which include the removal of fuel subsidies and foreign exchange rate harmonisation, with a focus on infrastructure development, manufacturing, and technology.

The multilateral bank said that the country’s economic growth will be driven by agriculture, construction, services, and trade.

According to the 2023 State of Global Food and Nutrition Security, the number of Nigerians facing food insecurity has increased by 133 per cent in three years. The figure surged from 63.8 million people between 2014 and 2016 to 148.7 million people between 2020 and 2022.

“Inflation should gradually ease as the effects of last year’s exchange rate reforms and removal of fuel subsidies fade. These structural reforms are expected to boost fiscal revenue over the forecast period,” the World Bank declared.

It acknowledged that the Nigerian economy softened to an estimated 2.9 per cent in 2023 due to the disruptive currency demonetisation policy, which involved replacing old high-denomination naira notes.

“Growth in the region’s three largest economies—Nigeria, South Africa, and Angola—slowed to an average of 1.8 percent last year, holding back the region’s overall growth.

“In the region’s other countries, growth softened to 3.9 per cent, partly reflecting a sharp decline in metal exporters’ growth alongside lower global metal prices. Moreover, intense and prolonged conflicts hampered growth in several countries.

“More broadly, post-pandemic recoveries were slowed by weakening external demand and domestic policy tightening to address persistent inflation,” it remarked.

Nigeria’s GDP was N60.66tn as of Q3 of 2023 after growing at 2.54 per cent, according to the National Bureau of Statistics.

The bureau said the growth rate was higher than the 2.25 per cent recorded in Q3 2022 and higher than the second quarter 2023 growth of 2.51 per cent.

However, there were concerns that rising public debt, persistent inflation, high cost of living, and a weak business environment, may continue to pose a downward risk to Nigeria’s growth prospects.

The country’s inflation rose to a 21-year high of 28.92 per cent in December 2023.

Public debt climbed to N87.91trn in the third quarter of 2023, according to data from the Debt Management Office.

The United Nations in its ‘World Economic Situation and Prospects 2024’ report noted that African countries will continue to experience deteriorating fiscal positions against the backdrop of high public debt and a low domestic revenue base in 2023.

“Efforts to increase in-country oil refining capacity would likely reduce domestic fuel costs in 2024 and beyond. Energy subsidy reforms in Nigeria, Angola, and Gambia, as well as tax hikes in Kenya, Ghana, and South Africa, aim to provide the government with some relief from tight fiscal spaces.”

The Senator Representing the Federal Capital Territory, Ireti Kingibe, said the Senate will summon the Minister of FCT, Nyesom Wike, over the rising rate of insecurity in Abuja.

There has been an increase in cases of abduction in Abuja lately.

Kingibe, while appearing on Channels TV’s Politics Today on Sunday disclosed that the Senate will summon Wike and heads of security agencies over the spike in crimes in the nation’s capital.

She said, “When the Senate resumes, I plan that the (Senate) FCT committee specifically needs to sit with the two ministers and the security agencies for them to give us their plans concerning security.

“It is not that I am hoping. I know he will be summoned. But whether he responds or not is a different matter entirely. But as the chief security officer of the FCT, he should have a plan.

“He should be able to tell us, the committee, and specifically me, that this is the plan for protecting the people of the FCT. Between him, the police commissioner, and the head of the DSS, they must have a plan.”

Kingibe who commended the security agencies, added that a lot needs to be done to tackle insecurity in the nation’s capital.

She added, “ I must commend the security agencies for doing something when we started to scream. But the truth is a little bit earlier, I tried to draw their attention and I was told that it was exaggerated and I said it couldn’t be because what I’m telling them, I did not get from social media. I got it from my constituents. But I’m glad that everybody, we are now all seem to be on the same page.

“They’re trying to take it all seriously, but a lot more needs to be done. Catching the kidnappers is just the symptom. We need to get to the root cause of what is causing all of this insecurity.”

Over 69 persons were killed and 152 abducted during 194 attacks carried out by bandits and other criminals in the FCT in 2022, according to data sourced from media reports and a leading indigenous intelligence outfit, Beacon Consulting.

The Lagos State Government has called for the arrest and trial of six northern candidates participating in the Nigerian Army recruitment process who claimed to be indigenes of the state.

A viral video surfaced earlier on Wednesday showing six candidates in the recruitment process, who hailed from Kaduna State, claiming Kosofe Local Government Area, Lagos Island Local Government Area, and Oshodi Isolo Local Government Area, respectively, as their local governments of origin.

By claiming to hail from Lagos, the candidates intended to secure the slots designated to Lagos State indigenes.

The video sparked reactions from indigenes of Lagos, with many saying that Lagosians are being short-changed in the recruitment process.

Responding to an inquiry by The PUNCH in a telephone chat on Wednesday, the Lagos State Commissioner for Information Strategy, Mr Gbenga Omotoso, said the matter had not been officially reported to the state government.

He, however, said any attempt by a non-Lagosian to claim Lagos indigeneship was criminal and demanded that the police should arrest and try the culprits if found culpable.

“We don’t have the report yet. But it is criminal to attempt to claim that you are from Lagos when you are not. It is what the police should take up, arrest the said candidates and try them,” Omotoso said, adding that “it is perjury and is punishable under the law of the land.”

Meanwhile, the Nigerian Army confirmed the arrest of the six candidates.

A statement on Wednesday by the Director, Army Public Relations, Maj. Gen. Onyema Nwachukwu, said the arrest of the candidates was a testament to the transparency and credibility of the recruitment process.

The statement read, “The attention of the Nigerian Army has been drawn to a circulating video on social media depicting the arrest of some fraudulent candidates of the ongoing 86 Regular Recruits Intake, who were caught attempting to short-change indigenous candidates of Lagos State through dubious means.

“The NA wishes to state that the arrest of the fraudulent candidates was a result of the commitment of the NA to upholding a transparent and credible recruitment process in line with its core values of integrity and fairness. The video is a pointer to one of the processes to which the candidates were subjected to ensure only true indigenes of a particular State are recruited, using the slots of that state and non-indigenes.

“The video in itself, therefore, clearly shows that the process is transparent, as the State Representative, who is a prominent member of the recruitment team has been part and parcel of the process and was given unhindered access to do her job by scrutinizing the candidates’ State of origin, to ascertain the genuineness of their indigeneship claims.”

Onyema said an investigation will be conducted to determine fraudulent activities and to identify those behind the fraudulent act.

“The state representative must identify non-indigenes amongst candidates applying for recruitment and this is applicable in other states of the federation.
“We wish to inform the general public that the fraudulent act perpetrated by the three candidates who attempted to secure vacancies designated for candidates with Lagos State indigeneship is a serious breach of our recruitment process and will not be condoned.

“We want to assure the public that a thorough investigation will be conducted to ascertain the extent of these fraudulent activities and to identify any individual(s) or unscrupulous syndicate(s) involved. We are dedicated to ensuring that only the most qualified and deserving candidates are selected to serve in the NA,” the statement added.

He assured that the Army would work in synergy with relevant authorities to bring those being the act to book.

Onyema, however, warned other candidates seeking to manipulate the process, saying that they would be punished in accordance with the law if caught.

He said, “The NA will continue to work closely with relevant authorities to ensure that those responsible for this misconduct are held accountable. The culprits involved will be handed over to the appropriate prosecuting agency. The NA is committed to upholding the rule of law and ensuring that justice is served in this matter.

“Consequently, we urge all prospective candidates to adhere to the principles of honesty and integrity throughout the recruitment process, as any attempt to manipulate the recruitment process will be met with the full force of the law.

“The NA remains resolute in its mission to recruit the best and most deserving individuals to serve our nation. We appreciate the support and cooperation of the public, as we work to maintain the integrity of our recruitment process.”

A former Minister of Communications and former General Officer Commanding, Three Armoured Division Nigerian Army, Maj.-Gen. Tajudeen Olanrewaju (retd.), has called on the Lagos State Governor, Mr Babajide Sanwo-Olu, and the Chief of Army Staff, Lt. Gen. Taoreed Lagbaja, to investigate what he described as “the violation of the constitutional rights of indigenes of Lagos State.”

Olanrewaju stressed that the incident is “procedurally wrong, constitutionally and democratically unacceptable, and it is a big slap on the national goal of achieving peace and unity of the country.”

“As for the ruling Lagos State government and responsible agencies, including Governance Advisory Council of All Progressives Congress in Lagos State, they are implored to step in and stop those who dish out fake indigene identity to non-indigenous residents in Lagos State in general,” he added.

The former GOC, in a statement on Wednesday, who noted that “Our IBILE indegenship application conditions are too porous and susceptible to abuses,” said “the Chairman of the Oshodi-Isolo LGA must step aside for thorough investigation to take place. He cannot investigate himself.

“Second, the Executive Governor/Attorney General and Commissioner for Justice are both respectfully requested to present an enabling law to the House of Assembly to be passed on ‘The Verification System Unit’ that is autonomous and staffed by IBILE Indigeneous Staff, and established in the five Divisions of the state.

“Its function is to liaise with the Armed Forces and link with Governor’s Office, Alausa. They will deal with recruitment and follow up with the interview processes and monitor those shortlisted for admission into the Armed Forces. This is what most of the states in the north do now. If this approach is fine-tuned properly, the law will help to reduce abuses associated with Lagos State slots allocated to it.

“This method is doable and feasible, provided there is collective action and purposeful desire and political willpower.”

Following Otto Wallin’s knockout by Anthony Joshua after just five rounds last December, the Swedish boxer says the British-Nigerian is a tougher opponent than WBC champion Tyson Fury.

Before the ‘Day of Reckoning’ in Saudi Arabia, some boxing fans had backed Wallin to spring an upset and derail a planned fight between Joshua and Deontay Wilder.

However, after Wilder was easily outpointed by Joseph Parker on the undercard, Joshua took control in the main event. The former two-time heavyweight champion dominated Wallin from the first bell and forced the stoppage after just five rounds of boxing in Riyadh.

This marked Wallin’s second career defeat, with the first coming as a decision loss to Fury, and the Swede contender has refused to make any excuses, instead praising Joshua for a great performance...https://nairabet.bet/2024/01/03/joshua-tougher-than-fury-wallin/

Bandits rampaging on the federal highways in Niger State have shot dead a bus driver and kidnapped eight passengers during an attack.

It was learnt that the bandits have contacted the relatives of the abductees and are demanding N17m in ransom.

The PUNCH learnt that the incident occurred last Saturday and has left motorists scared to pass through that axis described as prone to bandits’ attacks.

According to residents, the abducted victims were on their way for the installation of the chairman of kingmakers and chief priest of Bakarabonde in Borgu Kingdom.

The bandits were said to have set the bus conveying the passengers ablaze after they concluded their operation.

The Chairman of Borgu Local Government Area, Sulaiman Yerima, confirmed the attack, describing it as unfortunate.

The Niger Police Command spokesman, Wasiu Abiodun, when contacted, said he had made contact with the Borgu Division and was awaiting their report on the incident.

“I am still awaiting a detailed report of the incident. When I get it I’ll contact you,” he said.

The Lagos State Traffic Management Authority has confirmed the dismissal of five officers and reprimanded two for being guilty of corruption and misconduct while performing their duties in the state.

This was disclosed in a statement made available to PUNCH Metro by the Public Relations Officer, LASTMA, Adebayo Taofiq, on Sunday.

According to the statement, the Lagos State Civil Service Commission had approved every proposal the Personnel Management Board had made about the seven LASTMA officers who had been indicted during their meeting on Tuesday, August 19, 2023.

Taofiq said, “While five LASTMA officials indicted for corruption received a letter of termination of appointment’, remaining two received a letter of ‘reprimand’ for absence from duty posts without leave.”

Taofiq quoted the agency’s acting General Manager, Bakare Oki, as saying that the disciplinary action that was taken, was according to the Lagos State Civil Service Rules and Regulations.

He added that the public’s sharing of experiences, both positive and negative, and the provision of relevant evidence regarding alleged misdemeanours would be necessary for the agency to improve.

He pleaded with Lagos drivers to always abide by the state traffic law to avoid breaking the law and facing the penalties that are stipulated in the legislation while assuring the public that these complaints would be looked into quickly and impartially.

Taofiq stated that the cases against the remaining 14 indicted LASTMA officials are awaiting further administrative review while admonishing the driving public to follow the Lagos State Transportation Sector Reform Law 2018.

“This is necessary for all of us to promote a Greater Lagos for the benefit of all and for the realisation of Governor Babajide Sanwo-Olu’s objectives in the First Pillar of the THEMES Plus Development Agenda (Traffic Management and Transportation).”

“We wish to add by informing well-meaning and concerned Lagos residents and the motoring public that we have various windows through which complaints can be channelled for prompt action – 08100565860, 08129928515, 08129928503, (08129928597 WhatsApp only) and Provost on 08129928490

“He assured the public that such complaints shall be investigated dispassionately with dispatch.

“While enjoining every motoring public to abide by the Lagos State Transportation Sector Reform Law 2018, Mr Bakare Oki disclosed that cases against the remaining 14 indicted LASTMA officials are undergoing additional administrative review.”

The National Agency for the Prohibition of Trafficking in Persons has said it rescued and received 21,181 victims of human trafficking in 20 years.

The Director General of NAPTIP, Prof. Fatima Waziri-Azi, said this when she appeared before the Senate Committee on Social Duties for the defence of the 2024 budget.

She said the agency would try to support victims as long as they needed to be supported, noting that the process required time and a lot of money.

She explained that NAPTIP provides legal, medical support, rehabilitation and reintegration support to victims.


Waziri-Azi stated that in 2022, “NAPTIP rescued and received 2, 748 victims, which was 1,274 more victims that were rescued in 2022.”

She added, “From January to November 2023, we have already rescued and received 2,200 victims.

“Our shelter in Lagos has so far received the highest number of victims, followed by Katsina because of the borders, Kano and FCT shelters.”

She said in 2021 and 2022, Benue State had the highest number of rescued victims, followed by Ondo, Edo, Delta Kano and Imo states.

She added, “As part of our prosecuting mandate, last year, we secured 80 convictions, which was the highest in any single year since inception.

“Since this year began, we have already secured 63 convictions and counting, including the conviction of a high-level trafficker in Benin that was responsible for trafficking 12 girls to Belgium for human trafficking and sexual exploitation.”

She also told the committee that for the first time, the agency secured the conviction of a Lebanese, who was involved in trafficking and exploiting Nigerian girls.

The NAPTIP DG noted, “So in 20 years, NAPTIP has secured 639 convictions and counting, and on March 8, for the first time in collaboration with the Federal Ministry of Justice, the Interpol, the Italian government, a high-profile trafficker, Charity Omoye, was extradited to Italy to serve her 13 years sentence.”

She said the enhanced visibility and activities of the organisation had put a challenge on the organisation as the complaints on human trafficking had increased.

She added, “In 2022, the agency received 1,462 human trafficking complaints which was plus 31 .9 per cent from the number received in 2021.

“This has caused a serious strain on our human and financial resources and the challenges confronting the organization are enormous.”

She said NAPTIP 2023 budget appropriated a total of N2bn based on the envelope to the organisation, while in 2024 N3bn was being projected as total revenue for the organisation.

She said NAPTIP relies on donour organisations for its operational activities, saying that was not sustainable.

The chairman of the committee, Senator Shehu Kaka, said the committee would pay an oversight visit to the offices of NAPTIP for an on-the-spot assessment of its activities.

He added, “Effort would be made in the areas of budgetary allocation to the organisation given the vantage role it played in the society.”

About 1,197 Nigerian-trained doctors moved to the United Kingdom since May 29, 2023, to date, PUNCH Online’s investigation has revealed.

At the moment, Nigeria is set to overtake Pakistan and become the country with the second-highest number of foreign-trained doctors in the UK.

Currently, India remains the country with the highest number of foreign-trained doctors in the UK.

This is according to the register of the General Medical Council of the UK.

The GMC is a public body that maintains the official register of medical practitioners within the UK.

Though about 1,197 Nigerian-trained doctors were licensed between May 29, 2023, and December 1, 2023, the total number of Nigerian doctors licensed to practise in the UK is now 12,198.

This figure, however, excludes Nigerian doctors who were trained in other countries.

Presently, there are 73 Nigerian-trained doctors in the field of anaesthetics and Intensive Care Medicine, 61 in the field of emergency medicine, 241 for general medicine, 207 for obstetrics and gynecology, 17 for occupational medicine, 16 for ophthalmology, pediatrics field with 164, and 50 for pathology.

There are 35 of them for public health, 357 for psychiatry, 29 for psychiatry and 135 for surgery.

The rate of migration of medical doctors has recently become a matter of concern. The Nigerian Medical Association, while lamenting the high rate of medical brain drain, had said Nigeria might import doctors in the future.

In 2015, only 233 Nigerian doctors moved to the UK. The number increased to 279 in 2016, while the figure was 475 in 2017. In 2018, the figure rose to 852, while it further increased to 1,347 in 2019.

In 2020, the figure was 833 even though the GMC closed operations during the COVID-19 pandemic. The figure for 2021 was put at 932.

The Chairman, Committee of Chief Medical Directors of Federal Tertiary Hospitals, Prof. Emem Bassey, commenting on the brain drain recently said, “Some African countries are also beginning to poach from Nigeria.

“The West Coast is looking for our specialists. So many people are now going to places like Sierra Leone and Gambia and the wages they earn are $3,000 to $4,000. It is about three to four times what they earn back home. So we are beginning to see that people are leaving for other African countries too.

“The health sector is currently undergoing a major crisis in terms of manpower. What we are seeing is that medical specialists, not just doctors, even nurses even more nurses are leaving. Doctors, nurses, laboratory scientists, physiotherapists, radiographers and all manner of health professionals are leaving the country in droves.”

The Council of Legal Education has imposed a 5-year moratorium on law admissions at Baze University Abuja for consistently violating approved quotas.

In a statement on Friday, the Nigerian Law School said findings showed Baze University, founded by the Labour Party’s presidential running mate Yusuf Datti-Ahmed, was carrying over 347 backlogged law graduates awaiting admission.

The council stated that since 2017, the university has admitted over 750 law students, exceeding its 50 students per session allotment that should have taken 15 years to fill.

It added that Baze also improperly runs a 3-year law degree for some candidates instead of the accredited 5-year national benchmark curriculum.

Consequently, CLE has banned the university from law admissions for five years in the first instance, saying the period will enable resolving the backlog and compliance issues.

The council said follow-up visits would check if remedies have been implemented before considering lifting the sanction. It notified admission bodies like JAMB to steer prospective students away from the university temporarily.

The blanket moratorium despite the presence of innocent or unsuspecting students and parents has generated criticism. But officials say regulatory oversight must be upheld, promising that the students’ fate would be addressed.

The Acting Secretary and Director of Administration of the Nigerian Law School, Ms Aderonke Osho, who made this known, said, “At its Quarterly Meeting held on November 23, 2023, the Council of Legal Education (CLE) presided over by its Chairman, Chief Emeka Ngige, SAN, OFR considered the report of the Accreditation panel to the Faculty of Law, Baze University, Abuja.

“It emerged from the findings by the Panel led by the Director-General, Nigerian Law School, Prof Isa Hayatu Chiroma, SAN, that: Baze University consistently and most flagrantly had contravened its admission quota of 50 students per session as approved by the Council of Legal Education with the result that the Faculty is currently having a backlog of over 347 law students waiting to be admitted into the Nigerian Law School.

“Since 2017 the Council of Legal Education had grappled with the excesses of Baze University by admitting over 750 law students which ordinarily would have taken about 15 years of admission based on the quota allotted to the University.

“Baze University runs a three (3)-year LL.B programme for some UTME candidates without the approval of National Universities Commission (NUC), Joint Admission and Matriculation Board (JAMB and Council of Legal Education.”

The statement further noted that “Under the NUC Minimum Benchmark Academic Standard (BMAS) for law degree programme in Nigerian Universities, Law is a five (5)-year programme for UTME candidates and four (4)-year for Direct Entry students.

“The Council of Legal Education after thorough consideration of these infractions resolved as follows: The imposition of a moratorium on admission of law students to the Faculty of Law, Baze University, Abuja, with immediate effect;

“The moratorium will last in the first instance for a period of 5 years and may be renewed if no satisfactory action is taken to remedy the situation.

The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that the apex bank will be asking Deposit Money Banks to increase their capital base in order to service the $1tn economy projected by President Bola Tinubu.

This is as he noted that he knew that there was much work to be done in the way the apex bank ran its operations, adding that he would need the collaboration of all stakeholders.

Speaking on Friday at the 58th Annual Dinner of the Chartered Institute of Bankers of Nigeria in Lagos where he was the special guest of honour, Cardoso said, “In my recent speech at the 370th Bankers’ Committee meeting, I highlighted the economic agenda of the President. The administration has set an ambitious goal of achieving a GDP of $1tn over the next seven years.

“Attaining this target necessitates sustainable and inclusive economic growth at a significantly higher pace than current levels. It is crucial to evaluate the adequacy of our banking industry to serve the envisioned larger economy.



“It is not just about its current stability. We need to ask ourselves, can Nigerian banks have sufficient capital relative to the finance system needs in servicing a $1tn economy in the near future, in my opinion, the answer is no, unless we take action. As a first test, the central bank will be directing banks to increase their capital.

“Therefore, we must make difficult decisions regarding capital adequacy. As the first step, the CBN will be directing banks to increase their capital.”

He added that it was crucial to prioritise price stability to safeguard the livelihood of Nigerians.

He also blamed the recent negative perception of the apex bank on corporate governance failure, diminished independence and deviation from the core mandate, inefficient forex rules, and venture into development financing.

“I’m confident and optimistic that by taking appropriate corrective actions and strategic steps, we can restore macroeconomic stability and address fundamental flaws,” he stated.

Cardoso also noted that the fluctuating exchange rate was hampering business growth and promised to be transparent and fair to all as the bank performs its function.

He added, “The removal of petrol subsidy and the adoption of a floating exchange rate and other government policies are anticipated to have a positive effect on the economy in the medium term.

“These measures are expected to enhance investors’ confidence, attract capital inflow, stimulate domestic investors and ultimately improve the level of external reserves. Additionally, they are expected to contribute to the stability of the local economy.

“Despite the challenging global and local economic environment, Nigeria’s financial sector has demonstrated resilience in 2023 with key indications of financial soundness largely meeting regulatory benchmarks.

“Stress test conducted on the banking industry also indicates its strength under mild to moderate scenario on sustained economic and financial stress. Although there is room for further strengthening and enhancing resilience to shocks. Therefore, there is still much to be done in fortifying the industry for future challenges.”


Cardoso also noted that the previous forex ban on those 43 items widened the gap between official and parallel market rates.

Speaking on the activities of the CBN before his appointment, Cardoso stated that the quasi-fiscal policies of his predecessor, Mr Godwin Emefiele, resulted in N10tn being pumped into the economy through intervention programmes.

e said, “I am aware that events over the past few years have also put the CBN in a bad light. These issues can be attributed to various factors, such as corporate governance failures, diminished institutional autonomy of the Central Bank of Nigeria, a deviation from the core mandate of the Bank, unorthodox use of monetary tools, an inefficient and opaque foreign exchange market that hindered clear access, a foray into fiscal activities under the cover of development finance activities. There was also a lack of clarity in the relationship between fiscal and monetary policies, among other challenges.

“Hitherto, the CBN had strayed from its core mandates and was engaged in quasi-fiscal activities that pumped over N10tn into the economy through almost different initiatives in sectors ranging from agriculture, aviation, power, youth and many others. These clearly distracted the bank from achieving its own objectives and took it into areas where it clearly had limited expertise.”

The apex bank boss however promised that the issues affecting the bank would be tackled under his watch.

He said, “Under my leadership, the Central Bank of Nigeria will vigorously address these issues. We will tackle institutional deficiencies, restore corporate governance, strengthen regulations, and implement prudent policies. We assure investors and the business community that the economy will experience significant stability in the short-to-medium term as we recalibrate our policy toolkits and implement far-reaching measures.”

The President/Chairman-of-Council at the CIBN, Ken Opara, in his welcome address, pointed out that governors of the CBN as the guest speaker had historically used the platform to share perspectives on economic and financial market development in the current year and provide insights into its economic outlook for the year ahead.

Opara went on to highlight some of the initiatives from the CBN since Cardoso took office and stated that there was still much to do.

“It is important to mention that within the short time in office, the Central Bank governor has activated some key initiatives aimed at repositioning and stabilising the economy.

“I will mention a few, focusing on the core monetary mandate of price and exchange rate stability, the unification of the exchange rate, and initiating steps to improve liquidity in the foreign exchange market, therefore achieving real positive change.

“We are on a journey and we are not yet there but we believe that we are progressing as we are not oblivious of the inflationary pressure that has intensified and has reached a high of an all-time high of 27.33 per cent in October 2023 while the exchange rate continues to rise. We believe that the focus should continue to be on reforms and incentives that will boost non-oil export revenue as well as attract Diaspora and foreign portfolio investment.

“These achievements tie into the Renewed Hope Agenda of the President, whose comprehensive development plan aims to address Nigeria’s most pressing challenges as encapsulated in the eight points agenda of economic growth and transformation, access to capital, job creation, food security, ending poverty, improved security, rule of law, fighting corruption and improved playing field for business to operate.”

The Vice President, Senator Kashim Shettima, was represented by the Special Adviser to the President on National Economic Council and Climate Change, Mrs Rukayat El-Rufai.

Lagos governor, Mr Babajide Sanwo-Olu, represented by the Commissioner of Finance, Abayomi Oluyomi, in his goodwill message said, “In the last few months, we have witnessed what have been described as the new dawn in the management of our monetary policy and fiscal policy in line with the renewed hope agenda of the current administration led by President Bola Tinubu.

“I am confident that in the first full fiscal year of this administration and the management of the Central Bank of Nigeria under Dr Yemi Cardoso, these anticipated positive impacts of the monetary and fiscal policies of the new administration will fully manifest in our macro and micro economic indices, most importantly, for us as politicians, in the living conditions of our people.”

In his remarks, the Chairman of the Body of Bank Chief Executive Officers, Ebenezer Onyeagwu, stated that the banking industry was becoming stronger even as the issue of FX forwards is being dealt with.

Onyeagwu, who is also the Group Managing Director/CEO of Zenith Bank Plc, said, “The industry is getting stronger and the elephant in the room, FX forwards has been caged and we are moving forward.”

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in his goodwill message, said, “The industry is thriving and relatively healthy. Taking Nigerian banks to the rest of Europe and other regions shows what we are able to offer the rest of the financial world. It has been difficult but we must stay the course.”

The naira fell, on Thursday, to N956/$ on the official Investor and Exporter forex window as dollar supply declined by 46.77 per cent.

This is a 13.78 per cent decline from the N840.53/$ the naira closed trading on Wednesday according to data from the FMDQ Securities Exchange. Also, the turnover of dollars traded in the market fell to $105.50m from $198.21m on Wednesday.

The naira began trading at N800.90/$ for the day before hitting a high of N1136/$ and N615/$ within the day. It eventually closed trading at N956.33/$.

The instability of the naira has persisted despite recent moves by the Central Bank to clear the backlog of foreign exchange forward contracts. The naira is one of the worst-performing currencies in the world, losing about 40 per cent of its value since June, the World Bank recently disclosed.

Recently, the Economic Intelligence Unit, the research and analysis division of the Economist Group, disclosed that the CBN does not have the required firepower to clear the backlog of foreign exchange orders. This is expected to continue to put pressure on the naira.

It stated, “In Nigeria, an unsupportive monetary policy implies that the naira will remain under pressure, while the central bank lacks the firepower to adequately supply the market or clear a backlog of foreign exchange orders, which will keep foreign investors unnerved. High inflation and a continued spread with the parallel market will leave the exchange rate regime unstable and result in periodic devaluations.”

A crash involving a car and a truck occurred in the early hours of Friday at the Magboro end of the Lagos-Ibadan Expressway.

Our correspondent, who was at the scene of the accident, reported that no life was lost.

The accident involved a Toyota Camry with number plate SMK 436 GB and a Mercedes-Benz truck with number plate AKD G43 XM.

The crash happened around 8.10am just before the Magboro bus stop side of the road.

The car was heading towards Ibadan and the truck was about to get on the road before the collision happened.

The PUNCH reports that the accident has caused gridlock on the inward Ibadan lane of the expressway.

Former President Muhammadu Buhari has said he does not miss being President much.

“Miss? I don’t think I miss much,” Buhari said while responding to a question on what he misses from his time in office in an exclusive interview with the Nigerian Television Authority.

This was according to a promo for the interview the NTA shared on its X (formerly Twitter) handle on Sunday.

Months before handing over power, Buhari said he would not miss his time as President of Nigeria because his best was not good enough for Nigerians.

“I believe I’m trying my best, but still my best is not good enough. I wonder if I am going to miss much. I think I’m being harassed,” he remarked.

The full-length interview, which is Buhari’s first since leaving office on May 29, 2023, will be aired at 10:30 pm Monday.

The Presidency, on Monday, blamed former President Olusegun Obasanjo for the current state of Nigeria’s democracy.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, who spoke to The PUNCH, noted that the democracy the country currently practises dates back to direct inputs by Obasanjo when he led the country’s first as military Head of State from 1976 – 1979 and as civilian President from 1999 – 2007.

“Obasanjo ought to know that he brought this thing into Nigeria. He was the one who made us adopt it in 1979. He must have seen it as expensive and unsuitable when he governed us for eight years and even wanted an extension for another four years.

“So, the way he is sounding, it is like the man is getting wiser after leaving office,” Onanuga said, reacting to Obasanjo’s post-presidential stance.

The Presidency’s response followed comments made by Obasanjo at the high-level consultation on Rethinking Western Liberal Democracy in Africa held at Green Resort Legacy, Olusegun Obasanjo Presidential Library, Abeokuta.

Obasanjo had criticised Western democracy, suggesting it had not delivered good governance and development in Africa.

He called for a reexamination and moderation of democracy to better suit African nations, citing the Western model’s disregard for African history and complexities.

Obasanjo proposed an “Afro democracy” tailored to the continent’s unique needs.

The ex-president said the snag with the liberal democracy was that it was not home-grown and did not take into account African history and multicultural complexities, among other peculiarities.

Picking holes in the Western liberal democracy, Obasanjo described it as a “government of a few people over all the people or population and these few people are representatives of only some of the people and not fully representatives of all the people. Invariably, the majority of the people are wittingly or unwittingly kept out.”

According to him, African countries have no business operating a system of government in which they have no hands in its “definition and design.”

Obasanjo said, “The weakness and failure of liberal democracy as it is practised stem from its history, content and context and practice. Once you move from all the people to a representative of the people, you start to encounter troubles and problems.

“For those who define it as the rule of the majority, should the minority be ignored, neglected and excluded? In short, we have a system of government in which we have no hands to define and design and we continue with it even when we know that it is not working for us.

“Those who brought it to us are now questioning the rightness of their invention, its deliverability and its relevance today without reform. The essence of any system of government is the welfare and well-being of the people, all the people.”

He argued that Nigerians must “interrogate the performance of democracy in the West where it originated from and with us the inheritors of what we are left with by our colonial powers.”

But the Presidency blamed the former leader for a poorly copied model during his tenure as Head of State and, later, President.

It criticised Obasanjo for not advocating a better system despite his current views saying, “If he believes in what he is saying now, he ought to be an advocate of the need to go back to the parliamentary system.”

Onanuga added, “We were practicing the parliamentary democracy the British left for us. Then, the military struck in 1966. And when we were going to return to democracy, instead of going back to what we were practicing before, parliamentary democracy, which was not expensive, it was this same Obasanjo who accepted the recommendation of the constitutional assembly at that time that recommended this American-style democracy.”

The Presidency criticised Obasanjo’s implementation of the presidential system, saying, “Obasanjo also knew that he copied this presidential system very wrongly. He copied the form and structure. But he didn’t copy the spirit of it.”

“Something that should have been under him in 1999 to 2007, he even made attempts to modify the constitution,” Onanuga remarked.

Palpable tension has enveloped the ancient Ewu-Urhobo kingdom in Ughelli South Local Government Area of Delta State, as the womenfolk in the kingdom, embarked on a peaceful protest in condemnation of what they tagged ‘forceful imposition and planned installation of one Clement Ikolo as their king.’

The protesters maintained that Ikolo is not an indigene of Ewu-Urhobo kingdom, just as they despatched strong words to the state governor, Hon. Sheriff Oborevwori.

The aggrieved women in their numbers on Monday carried placards with different inscriptions, such as: ‘Governor Sheriff Oborevwori, do the right thing;’ ‘Ikolo is not from Ewu;’ ‘Ewu is a Peaceful kingdom, we don’t need crisis;’ among others.

They also called on the Orodje of Okpe kingdom to urgently wade in and use his offices to advise the governor, who they described as Orodje’s subject, to do what is right in the circumstance and halt the wrongful imposition of a non-indigene on the people as king.

Vowing to resist with the last drop of their blood, the imposition and planned installation of Clement Ikolo, whose presentation of staff of office by Delta State government has been scheduled for Thursday next week, the protesters also threatened to undermine the forces and powers that will be used by Ikolo and the Delta State government in the matter.

A statement circulated by the protesters partly reads, “We will resist the installation of Clement Ikolo as our king, because he is not the chosen person and he is not the right person to occupy the throne.

“The Delta State government is being misled through the influence and connection of Clement Ikolo, who believes he can buy the throne with his money.

“We have a crown King in the kingdom of Ewu and he is His Royal Majesty Awarieta Bernard, but not Clement Ikolo.”

Spokesperson for the protesting women, Chief Mrs. Christiana Ofuedje, who is also the Okobaro of Ewu-Urhobo kingdom, told journalists that with the demise of the former king five years ago, the kingdom, through a due process had installed Awarieta as the king, but was astonished to hear an announcement of the name of Clement Ikolo to be presented staff of office as a king, “when he is not the one chosen by the people.”

She disclosed that the community had earlier protested against Ikolo in February this year by barricading the roads, “during which Ikolo mobilised security agents to beat and brutalize us and in the process, one of our illustrious sons in the kingdom was shot dead.”

She added that while they were still mourning the deceased, who is yet to be buried, they got wind of the presentation of staff office to Ikolo by the Delta State government.

She asked rhetorically, “Is he trying to cause crisis and war in the kingdom?”

She spoke further, ”Oborevwori should not present staff of office to Ikolo as our king, because he, Clement Ikolo, is not an indigene of Ewu kingdom, but an indigene of Olomu kingdom.

“He shouldn’t be forced on us, we have the right to choose our king according to age-long tradition.

We have come to see His Royal Majesty, the Orodje of Okpe, who is the Chairman of the Delta State Traditional Rulers Council, to prevail upon, and advise the governor to shun the presentation of staff office to Clement Ikolo as scheduled, to avoid the breakdown of law and orders.”

Responding, the Unukpe of Okpe Kingdom, Okakuro Michael Afe told the protesters that the Orodje, who they had come to see was not around, but appealed to them to remain calm, promising that their message would be relayed to the monarch as soon as he returned to the kingdom.

The Economic and Financial Crimes Commission has arraigned a man, Oladipo Jimoh and his firm, Barma Energy, for allegedly stealing $60,334.59 belonging to Vale Blue Limited on Tuesday.

Jimoh was arraigned before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja Lagos on a two-count charge of stealing.

The EFCC disclosed this in a statement made available on its X (formerly Twitter) page on Wednesday.

The prosecuting counsel, G.C. Akaogu, had told the court that Jimoh allegedly converted two properties of Vale Blue Limited to his personal use in a dishonest manner.

The count read, “Oladipo Bankole Jimoh and Barma Energy Resources Limited, sometime between 11th October 2022 and July 2023 in Lagos, within the Ikeja Judicial Division, dishonestly converted to your own use the sum of $47,534.59, property of Vale Blue Limited.

“Oladipo Bankole Jimoh and Barma Energy Resources Limited, sometime between 11th October 2022 and July 2023 in Lagos, within the Ikeja Judicial Division, dishonestly converted to your own use the sum of $12,800, property of Vale Blue Limited.”

The defendant pleaded not guilty to the offences after which Justice Dada granted him bail to the tune of N200 million with two sureties in like sum.

The statement read in part, “Following his plea, prosecution counsel, G.C. Akaogu, prayed the court for a trial date to enable the prosecution to prove its case against the defendants.

“We also pray that the defendant be remanded at a Correctional Centre.”

However, defence counsel, A.K. Akpabio, informed the court of the bail application filed on behalf of her clients.

“We pray that the defendant be remanded in the EFCC custody until the bail is perfected,” she said.

“Justice Dada admitted the defendant to bail in the sum of N200 million, with two sureties in like sum. The sureties must be gainfully employed and each must have N100 million in his/her account or a valued landed property.

Justice Dada held that “the defendant shall be remanded at the Correctional Centre pending the perfection of his bail.”

“The judge also ruled that “in view of the fact that there are no correctional officers in court today, due to security reasons, the defendant shall temporarily be remanded in the EFCC custody.”

The case was adjourned till February 12, 2024 for commencement of trial.”

A final-year student of the Federal University of Agriculture, Abeokuta, Oladokun Ayomide, has been arrested by the Ogun State Police Command for allegedly poisoning his girlfriend, Ugbokwe Mmasichukwu, and another lady, Odumosu Semilore.

The police said the suspect administered a poison believed to be an admixture of brownie cakes, alcohol, and an unknown harmful substance after inviting his girlfriend to his residence in the Surulere community in the Camp area of the city on Friday.

PUNCH Metro gathered that while leaving for the suspect’s residence, Mmasichukwu told her schoolmate, Semilore, to accompany her to her boyfriend’s place at Surulere community, Camp, Abeokuta.

Serving them the substance suspected to be poisonous, our correspondent learnt that the victims were rushed to the hospital when they lost consciousness immediately after they ate the harmful cake.

Although the reason behind the suspect’s action remained unknown as of the time this report was filed, the police told our correspondent that a preliminary investigation revealed that Ayomide was suspected to have an intention to harm the victims.

The Chief Security Officer of the Federal College of Education, Osiele Abeokuta, Olusola Ajibola, who led the arrest of the suspect, told the police that Mmasichukwu and Semilore were students of the institution, while Ayomide was a final-year student of FUNAAB.

Contacted, the Public Relations Officer, Omolola Odutola, told our correspondent that the victims were responding to treatment, adding that further investigation was going on to unravel the circumstances behind the incident.

“The victims were believed to have been fed brownie cake, and they immediately lost consciousness after eating it and were taken to the Osiele Medical Centre for treatment.

“A foil paper pack used for the brownie cake was found when our officers visited the crime scene. The suspect was handed over to the police division by the Chief Security Officer of the school,” Odutola stated on Tuesday.

https://www.google.com/amp/s/punchng.com/ogun-student-arrested-for-poisoning-girlfriend/%3famp

Ogun varsity clears student accused of poisoning girlfriend

The Federal University of Agriculture, Abeokuta, has cleared Oladokun Ayomide, a final-year student of the school, over the allegation of poisoning his girlfriend and another lady.

PUNCH Metro had earlier reported that the Ogun State Police Command arrested Ayomide for allegedly poisoning Ugbokwe Mmasichukwu and another lady, Odumosu Semilore.

The police said the suspect administered a poison believed to be an admixture of brownie cakes, alcohol, and an unknown harmful substance after inviting his girlfriend to his residence in the Surulere community in the Camp area of the city on Friday.

However, according to a statement issued by the Assistant Director, Media Directorate of Public Relations, FUNAAB, Olasunkanmi Olajide, which was made available to our correspondent on Thursday, the cakes purchased by Ayomide “contained a high level of alcohol. This led to the unintentional intoxication of the consumers.

“Ayomide had no malicious intent, as confirmed by the medical examination at their institution’s health centre. The affected individuals were discharged from the hospital the following day and even participated in their examinations on November 10, 2023.

“It is crucial to emphasise that all charges against Ayomide, brought forth by the parents and the school of the affected ladies, have been dropped due to the lack of malicious intent,” the school stated.

When contacted on Thursday, the command, through its Public Relations Officer, Omolola Odutola, confirmed that the student had been released on bail following a settlement by the parents of the students.

“He (Ayomide) is entitled to bail. The girl has recovered and she has also been discharged from the hospital. The parents have settled,” she disclosed via a WhatsApp message.

https://www.google.com/amp/s/punchng.com/ogun-varsity-clears-student-accused-of-poisoning-girlfriend/%3famp

Despite recent moves by the Central Bank of Nigeria to strengthen the foreign exchange market, the naira closed trading on the Investor & Exporter forex window on Thursday at N996.75/$.

This is a 13.95 per cent decline from the N874.71/$ it closed trading on Wednesday. So far, the naira has lost 27.75 per cent of its value since opening the week at N780.23/$ according to details on FMDQ OTC Securities Exchange.

Since firming up against the dollar last week, after news that the apex bank was clearing some of its backlog broke, the naira has been on a steady decline in both the official and parallel markets.

So far, the naira has lost about 40 per cent of its value in 2023, earning the tag of one of the worst performing African currencies from the World Bank.

In the parallel market, the currency has lost value too, falling from N950/$ as of Friday to close to N1,140/$ as of Thursday according to Bureaux De Change operators who spoke to The PUNCH. This represents a 20 per cent decline.

A trader who only gave his name as Kadri said, “Dollar is N1,100 if you want to sell. It is N1,140 if you want to buy.” Another trader, Awolu, stated that he would buy the dollar at N1,100 from our correspondent.

e said, “Dollar is N1,100 if you want to sell to me.”

Earlier in the week, the President of the Association of Bureaux De Change Operators of Nigeria, Aminu Gwadabe, told The PUNCH that the dollar was gaining against the naira because people who had bought it at a higher price were resisting its fall.

He said, “Speculators are always looking at elements of sustainability. Once they sense that it (the injection) is not continuous, they begin to react. They begin to react. It is the reaction of the market we are witnessing. Also, there is resistance. There are people that bought at a higher price that this does not favour. People are not willing to take further losses.”

Concerned with the fall of the currency, the presidency recently stated that it is planning policies to strengthen the local currency.

A Special Adviser to the President on Economic Matters, Dr Tope Fasua, who was representing the Vice President, Kashim Shettima, at an event, said: “For those who are speculating and praying and wishing that the currency would become nonsense, I believe that the central bank is rolling out the policies and the government that I serve, led by the President, will shock some of them.”

Israel’s Prime Minister, Benjamin Netanyahu, on Thursday, ruled out a ceasefire in Gaza, saying the military was performing “exceptionally well,” but insisted Israel does not plan to reoccupy the Palestinian territory.

“A ceasefire with Hamas means surrender,” he told Fox News, adding there was no “timetable” for the military offensive.

“I think the Israeli army is performing exceptionally well,” he added.

“However long it takes, we’ll do it.”

Israel has vowed to destroy Hamas after the militant group poured across the border from Gaza on October 7, killing 1,400 people, mostly civilians and taking around 240 people hostage, according to Israel.

The retaliatory aerial bombing and ground offensive has killed more than 10,800 people in Gaza, mostly civilians and many of them children, according to the Hamas-run health ministry.

Netanyahu said Israel has no plans to remain in Gaza long-term.

“We don’t seek to govern Gaza. We don’t seek to occupy it, but we seek to give it and us a better future,” he said, adding that Israel does not “seek to displace anyone.”

Pushed on his plan for Gaza’s future, he said the impoverished and blockaded territory must be “demilitarized, deradicalised and rebuilt.”

“We’ll have to find a government, a civilian government that will be there,” he added, without detailing who might form such a government.

And he said Israeli forces would have to remain ready to reenter Gaza and “kill the killers”.

“That’s what will prevent the reemergence of a Hamas-like entity.”

The October 7 attack and subsequent conflict came as Israel moved closer to a peace deal with Saudi Arabia, building on the so-called Abraham accords that normalised ties with several Arab countries.

Netanyahu insisted the conflict would not torpedo diplomatic momentum and that conditions would be “ripe” for negotiations to resume after Israel destroys Hamas.

“I think conditions will be ripe. In fact, after a victory, I think they’ll be even riper.”

A chieftain of the Peoples Democratic Party, Bode George on Wednesday accused some members of the party’s National Working Committee of being the cause of the party’s failure in the 2023 presidential polls.

George while speaking to journalists in Lagos also faulted members of the NWC for handing the party ticket to individuals who had deep pockets.

Citing the case of Lagos, the former PDP Deputy National Chairman said the NWC deviated from the established procedures designed by the party’s founding fathers for conducting primary elections and congresses, stating that it was important to return to these established processes to improve the party’s chances in future elections.

He said, “A typical example is the primaries in Lagos either governorship; they will send people who don’t live here and who have no business here to come and conduct primaries.

“How can somebody from outside know your house more than you by the time they land rather than allowing people to vote, they will be looking for the aspirants and they become their Automated Teller Machine.

“Once they finish, they will run back to the national organising department to affirm the person they supported. But I won’t expand more than that, and that is the major crisis which you see because, if you go to the bottom and do your primaries at the wards and local government levels and create division at that level, how can you fight the outsiders?”

He called for the establishment of a reconciliation committee to address the issues and pave the way forward for the PDP. He stressed the importance of conducting a thorough review of the party’s experiences in each state during the 2023 elections.

He added, “There should be no short approach; sweeping everything under the carpet is a foolish way to do it.
“We must set up a committee that will go around the country, move state by state, and make inquiries about their experiences, what happened to finances, and the political aspect. How were the primaries conducted in each state? Who did what?”

The students of Tai Solarin University Of Education, Ijagun, Ijebu-Ode, Ogun State, have taken their protest against the newly increased tuition fee by the management to the Benin-Ore expressway in the Ijebu-Ode area of the State, in the early hours of Wednesday.

This was in agitating for a reduction of their tuition fee.

PUNCH Metro gathered that the protesters had stormed the aforementioned expressway, restricted movement and were persistent on the revolution.

They bore placards with inscriptions such as ‘I am not into fraud, I cannot afford N180K’, ‘Have mercy on our parent, we cannot afford N180k and above’, ‘Say no to increment, TASUED Sorosoke, do not suffocate us’, ‘Should I go and steal to pay school fees?’, among others.

The students came out en mass, boycotting the 2022/2023 second semester examination scheduled to be held today after a statement by the students’ union was released to the public.

The statement signed by the union president, Akinjetan Emmanuel, and its spokesperson, Olarenwaju Olawale Daniel, partly reads “During the meeting, we engaged In a constructive and productive dialogue with the management, presenting your concerns and advocating for a solution that takes into account the financial circumstances of our university community. The union expresses the students’ deep pains regarding the recent school fee increment. This sudden increment will cause significant hardship for many of us.

“The management has insisted on a 10 per cent reduction. We want you to note that we did not agree to this. The meeting ended in deadlock and it is so disappointing, but we would not let this setback discourage us”, the statement reads.

This led the school management to declare the end-of-session holiday for 2022/2023, even while the second-semester examination is ongoing.

In a memo released by the institution, all students have been directed to vacate the varsity premises immediately pending the period the new academic session would commence.

“Parents are advised to recall their wards back home and ensure their safety,” it added.

The students had earlier on Monday staged a protest to kick against the increase in tuition fees from between N65,000 and N70,000 to N240,000.

Our correspondent gathered that the returning students, who were expecting to pay N65,000, will now pay N180,000, while fresh students are to pay N240,000 aside from other fees.