₦airaland Forum

At least eight banks and 18 other listed companies have been fined N125m for failing to file their 2022 audited financial statements and quarterly reports for the first half of 2023 as required by Nigerian Exchange, The PUNCH findings have revealed.

The affected banks were Unity Bank, FBN Holdings, Access Holdings, Fidelity Bank, Jaiz Bank, Wema Bank, Guaranty Trust Holdings Plc and Ecobank Transnational Incorporated.

John Holt, PZ Cussons, Notore Chemical, Glaxo SmithKline Consumer Nigeria, Industrial Medical and Gases Nigeria and Juli Plc were also affected by the sanction.

According to the NGX’s post-listing rules, quoted companies are required to submit their audited results, not later than 90 calendar days, or three months, after the expiration of the period. The rules also require quoted companies to submit interim reports not later than 30 calendar days after the end of the relevant period.

Based on the latest X – Compliance Report issued by the regulatory arm of the NGX, FBN Holdings was fined for delay in submitting its 2022 financial results and its quarter one report for 2023. The lender paid N6.3m for the former offence and paid N3.3m for the latter.

For failing to submit its 2022 results on time, Unity Bank paid N6.4m and another N3.4m for the delay in submitting its interim reports for Q1, 2023.

The report showed that Fidelity Bank, GTCO and Wema Bank paid N2.7m, N1.4m, and N1.9m, respectively as fines.

While Access Holdings paid N2m, Jaiz Bank, Ecobank, and John Holt coughed out N600,000, N3.2m and N3.2m, respectively as penalties.

The NGX fined PZ Cussons N4.8m, Notore Chemical paid N500,000 and GSK, which announced the closure of its operations in Nigeria also paid a fine of N1.3m for failing to file its 2022 financial results as and when due.

Others also sanctioned for delay in filing their 2022 audited accounts include Industrial Medical and Gases Nigeria, which paid a fine of N1.2m, Juli Plc paid a penalty of N120,000 and NPF Microfinance Bank paid a fine of N1.8m.

The regulator also sanctioned Daar Communications, paying N1.7m fine, Champion Breweries and Abbey Mortgage Bank Plc were also fined N1.6m and N1.4m, respectively.

Regency Alliance Insurance and Thomas Wyatt Nigeria also paid N1.4m and N4.9m fines, respectively, for the same offence.

The NGX hammer also fell on Presco Plc (N24.8m); Ardova (N18.6m) and Universal Insurance Plc (N12.4) for flouting the filing regulations.

Conoil was also fined N7.9m for not filing its results within the stipulated period, while Caverton Offshore Support Group paid N5.7m as a penalty for the same offence.

Telecommunications services firm, Briclinks Africa Plc also cough out N590,000 fine during this period.

The Vice-chairman of Highcap Securities, David Adonri, said the fines were necessary to maintain the sanctity of the market.

“A lot of them relate to corporate disclosures. The capital market is information-driven. There is certain information that the listed companies must disclose at the appropriate time. If a company realised that it may not be able to disclose such information, the company can send a request to the exchange requesting additional time

Bandits have abducted the Organizing Secretary of the All Progressive Congress (APC), Hon. Kawu Ibrahim Yakasai, from his residence in Yakasai village in Kaduna State.

The abduction took place at around 10:00 pm on Friday when the bandits invaded Yakasai village in Soba LGA.

They specifically targeted Yakasai’s residence and forcibly took him, sources revealed.

Hon. Kawu Ibrahim Yakasai, a former Chairman of Soba Local Government, was seized by the assailants and subsequently transported to an undisclosed location.

Commenting on the incident, a resident of Soba, Lawal Sani, prayed to God to free the ex chairman from his abductors.

A member of the ruling party executive committee, who spoke anonymously, confirmed the incident, expressing concern over the safety of Hon. Yakasai.

Mohammed Lawal Shehu, Chief Press Secretary to Governor Uba Sani, also confirmed the incident, saying the governor had directed security agencies to go after the kidnappers and ensure Yakasai’s safe return.
He reiterated his administration’s commitment to safety of lives and properties of all citizens of Kaduna state.

He added that part of the steps taken to achieve this is his resolve to employ 7000 vigilantes, who will complement the efforts of the security agencies in the state.

Police Public Relations Officer in Kaduna, DSP Mohammed Jalige, is yet to reply messages sent to them on the issue as at the time of filling the report.

A Ghanaian driver was shot and injured and his truck was burnt by suspected terrorists while trying to bring food supplies from Niger Republic despite the difficult security situation in the area.

The driver was one of a handful of drivers who chose to bring crucial foodstuff to Ghana via the Burkina Faso route.

As a result of the military coup in Niger, its borders were closed, which raised tension with the regional bloc, ECOWAS.

According to Africanews, the drivers reportedly tried to continue beyond the Burkina Faso border on their own after unsuccessfully waiting for security escorts.

Unfortunately, terrorists attacked the convoy, destroying about four vehicles.

The owner of Damabala Enterprise, Massahoudu Dambala, described the terrifying occurrence to Joy News.

Damabala Enterprise uses about 35 trucks to convey food from Niger to Ghana.

He disclosed that when the drivers ignored the terrorists’ orders to stop, a conflict occurred.

He said, “When the expected escorts failed to show up, one of the drivers made the decision to proceed. Following their accomplishment, our drivers made the trip as well. They left, and the jihadists appeared. The drivers made every effort to stop the convoy, but it continued. Tragically, some went home, and some left their trucks behind.

“Our leading vehicle was targeted; they burned it along with about 450 bags of beans it was carrying, along with three or four other trucks.”

Meanwhile, ECOWAS has debunked the claims that the regional bloc was being sponsored by foreign powers to attack Niger Republic.

Omar Alieu Touray, the President of the ECOWAS Commission, disclosed this on Friday while addressing a press conference in Abuja.

He said, “Let me reiterate that fifth columnists have unfortunately been misrepresenting our decisions and actions, deriding regional authorities as being tele-guided by foreign powers with nefarious intentions.

“Let me remind everyone that ECOWAS is a community of rules and regulations, norms, and values. These principles, which have been accumulated over the 48 years of its existence, and they underpin its actions.

“We are, therefore, not under the dictates of any extra-regional power or interests. Our interest is rather the protection of the rights of our people with the objective of building a rules-based community and fostering peace and prosperity for all in our region.”

He also said the sub-regional body had not declared war on the people of Niger Republic and that there was no plan to invade the country.

The supremacy battle over the control of the soul of the ruling All Progressives Congress (APC), has pitted key supporters of President Bola Ahmed Tinubu against governors and former governors elected on the platform of the party.

It was gathered that some key allies of the President are plotting to seize the party from the governors.

Immediate past governor of Kano State, Dr Abdullahi Ganduje, was named National chairman of APC in early August to replace former Governor Abdullahi Adamu from Nasarawa State. Ganduje, a key ally of Tinubu, is facing his first litmus test since he assumed office. In many key states, especially in the North, Tinubu’s allies are making frantic moves to hijack the party from the firm grip of the governors. The latest development is the replacement of vacant positions in the National Working Committee (NWC) of APC.

On Thursday, protesters stormed the APC National Secretariat. The presence of the fierce-looking security agents at the secretariat could not deter the protesters from Cross River State, numbering hundreds, who barricaded the Barcelona Hotel end of the street and grounded both vehicular and human traffic.

Also on Thursday, Governor of Kogi State, Yahaya Bello stormed the APC secretariat at 9 am with his supporters. His mission was to stop the inauguration of the anointed officers from Kogi, comprising the Deputy National Publicity Secretary, Duro Meseko, and the now replaced Zonal Organising Secretary (North Central Zone), Ikani Okolo.

Governor Bello, it was gathered, had decided to storm the secretariat to stop the inauguration after undertaking a fruitless visit to the house of the party’s National Chairman, Ganduje, on Wednesday night. That was after the NWC had allegedly settled for the candidates believed to have the support of James Faleke, a close ally of Tinubu. In a show of solidarity, all members of the National Assembly on the platform of the party from Kogi State and a serving minister from the state joined Governor Bello in the protest.

The governor spent over seven hours before he left the party’s secretariat by 4.33pm.

However, reprieve may have come the way of Governor Bello, as Ganduje has resolved the NWC impasse. A source told the reporter: “After a rigorous meeting with key stakeholders, the party resolved that Kogi State governor, Bello, should nominate a candidate for the position of Zonal Organising Secretary (North Central), who is to replace the earlier nominated, Shuaibu Okolo

“The nomination of Duro Meseko, who is also nominated to serve as the Deputy National Publicity Secretary earlier by James Faleke stands.”

In the South South, Senator Adams Oshiomhole, Saturday Sun has gathered, has hijacked the party structure. Oshiomhole is also a close ally of President Tinubu.

Despite having other members of NWC from Edo State, Oshiomhole is said to have grabbed the position of the National Women Leader of APC from Cross River State.

Current Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu was the National Women Leader of APC until her appointment by President Tinubu. She is from Cross River. Based on existing principles of the party, Cross River State ought to have nominated her replacement. But Oshiomhole, like other close allies of Tinubu, selected her replacement from Edo.

Saturday Sun has gathered that many APC governors are uncomfortable with the new development and may meet with President Tinubu soon to lodge an official complaint.

A source told Saturday Sun that the governors are worried that strategic placements of Tinubu’s men may soon affect their firm grip on the party ahead of key elections coming up later in the year.

He said Ganduje, who had yet to settle down as the APC National Chairman, may not succumb to the pressure from governors, who are unwilling to relinquish their control of the party.

The party chieftain said Tinubu might be worried that if the control of the party is left in the hands of governors, he might run into trouble during key elections in the near future. He added that unlike former President Muhammadu Buhari, the APC will be well funded by President Tinubu and the NWC of the party may not have to kowtow to governors to survive.

According to him, Buhari refused to fund the party when he held sway as President for eight years. He said the party had to depend on the benevolence of governors to survive, who in turn, exerted control on the party.

He said: “Tinubu faced great difficulties in securing the ticket of the party. In fact, governors decided the fate of Tinubu and he knows what that cost him. He doesn’t want a repeat of that.

“That’s why he’s already taking over the structure of the party. Since he can’t do that openly, he’s using his allies to achieve that. Tinubu is also targeting states where their governors appear to be ambitious and didn’t fully support him.

“As long as Tinubu remains the President, he will not relinquish the control of the ruling party. People need to understand that. Tinubu has seen the dangers in allowing governors to control the party.”

National Publicity Secretary of the APC, Felix Morka, told Saturday Sun that the issues are already being resolved, but he didn’t give a timeline.

“The issues raised by the protesters are being resolved,” he told Saturday Sun.

The Central Bank of Nigeria (CBN) says the recent estimate of the country’s foreign exchange (FX) reserves by JP Morgan was presented “out of context”.

Hassan Mahmud, director of monetary policy department, CBN, spoke when he featured on Moneyline with Nancy, a programme on Africa Independent Television (AIT), on Wednesday.

Earlier this week, JP Morgan estimated that the CBN’s net FX reserves fell to $3.7 billion at the end of 2022, compared to $14 billion in 2021.

Reacting to the development, Mahmoud said that fluctuations, liabilities and encumbrances to the reserves were only natural and normal.

“We also read the JP Morgan numbers in-house and we didn’t panic over that. That’s not the first time we are seeing people, institutions reeling out numbers; they must have their intentions to do that, whether to rouse market sentiments, whether to mislead the public,” Mahmud said.

“But the central bank has tried as much as possible to be transparent. What I will say about those numbers is that it is just funny in the sense that number one, reserves like any account balance, is a flow; there are changes that go within it at any particular time.

“Two, even if you have outstanding liabilities, you don’t mark the outstanding liabilities to market on a day and say this is your net balance.

“I can have $20 million in my account and I am owing someone maybe $13 million that is supposed to be paid in 2027; you can’t come in 2023 and say if I remove that $13 million, your money is $7 million or you are having $7 million.

“Now, I am not having $7 million, I am having $20 million. Because before I took a facility of $13 million, I know in the next three years, I will get $17 million so I can pay you back.

“But for you to come and tell me that no, your balance is $7 million and you can’t pay back in three years; it’s just putting it out of context.

“I don’t know how they did their calculations and I don’t have any information about that, but we also saw those numbers that came out.”

Mahmud said the CBN owned about 80 percent of funds in reserves mainly to support the local currency in periods of volatility as well as to boost confidence of foreign investors.

“We have the numbers there. The central bank’s reserves are on our bank net. Yes, the figure you see today may not be exactly to the last decimal point but you have that picture that you are seeing there,” the CBN official said.

“We have $33bn, there is IMF facility there, the SDR is also there, we have the JP Morgan numbers that you mentioned, we have forwards, they are all there.”

Asked if the public should disregard the JP Morgan estimate, Mahmud said: “It is a ridicule for us (CBN) to come to the public domain, whether the CBN governor or deputy governor to speak on issues by JP Morgan. I don’t even know who said it in JP Morgan.”

“I don’t want us to get to that level where we will be ridiculing ourselves as a sovereign or country because of a private investor that has its own motives for giving those numbers. It could also be that those numbers were quoted out of context.”

By Aliyu Jalal


The National Drug Law Enforcement Agency (NDLEA) has launched a manhunt for a Lekki axis, Lagos-based drug dealer, Sowunmi Ayodeji Kayode, who is reportedly on the run after crushing one of its officers.


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In a statement, spokesman of the NDLEA, Femi Babafemi, said the incident happened when the suspect was trying to escape arrest after operatives stormed his house last weekend.
“Anti-narcotics officers of the agency had on Friday 18th August stormed the residence of the wanted drug dealer located at 2/3 Adetola Ayeni close, Lekki, Lagos for a search and possible arrest following credible intelligence that he was dealing in illicit drugs in his house.”

“Although he was not in the house when operatives got into his compound, he however returned while a search of his apartment was ongoing.

“In a dramatic twist, as soon as he drove into the premises and sighted NDLEA officers, he engaged his car in reverse gear, knocked down one of the officers, pulled down his gate before plunging the vehicle into the fence of the opposite compound.


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“The force of his car’s speed also pulled down the concrete wall of his neighbour’s compound and from there he dived out of the vehicle to escape,” Babafemi said.

He said a thorough search of his apartment however led to the recovery of 10.5kgs of Loud, while the operative knocked down suffered multiple injuries all over his body and compound fracture on his two legs, for which he is currently on hospital admission for treatment.

Following the unpleasant development, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Retd) directed the deployment of appropriate operational assets of the agency to “smoke out the wanted suspect from his hiding”.

He also approved adequate medical care for the injured officer so that he can get back on his feet as soon as possible.

Daniel Bwala, an aide to the Peoples Democratic Party presidential candidate, Atiku Abubakar, has said that President Bola Tinubu may be forced to sacrifice the Minister of the Federal Capital Territory, Nyesom Wike if he goes ahead with his planned demolition of structures in the FCT.

The PUNCH reports that Wike, upon assuming office on Monday, vowed to demolish houses illegally constructed within the nation’s capital, no matter whose property would be affected.

He said, “All those people who are distorting the Masterplan of Abuja, too bad. If you know you have built where you are not supposed to build, it will go down.

“Be you a minister of anywhere, be you an ambassador, if you know you have developed where you were not supposed to develop, your house must go down. Those who have taken over the green areas to build, sorry, our parks must come back; the green areas must come back. If you hate green, you must hate yourself.”

Meanwhile, Bwala while reacting to the threat in a tweet on Monday, charged the minister to learn humility while on his job.

He tweeted: “Hello sir, in case you need a refresher course, the basic needs of the residents of the FCT are: affordable healthcare facilities; access to good education facilities; clean sports and recreational centres; an affordable transport services system; efficient and workable street lighting in the city centre and the suburbs; and finally, security.

“You came with a bullish and vendetta spirit, venting fire and brimstone about demolition and revocation of titles. Abuja is not Port Harcourt.

“If you create chaos in the city, you will jeopardise your principal’s interests, and he will be forced to sacrifice your job. You will learn humility on the job.”

A former Kaduna Central Senator and human rights activist, Shehu Sani, argued that Nigerians will soon beg the Federal Government to leave them in poverty.

Sani who made the submission while reacting to the Federal Government’s promise to lift Nigerians out of poverty, said people will soon realise that the poverty they know is better than the unknown.

Recall the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, had assured that the Federal Government would lift 133 million Nigerians out of poverty.

Edu said the feat will be achieved through the backing of President Bola Tinubu, different interventions and initiatives meant to reduce poverty.

According to Edu: “What is most important is that we will keep our focus on lifting 133 million Nigerians out of poverty.”

Reacting, the former Kaduna Central Senator, faulted the same promises made by the previous governments.

Tweeting, Sani wrote: “The Past Government promised to lift the people out of poverty. The Present Government is promising to lift the people out of poverty.

“We are reaching a point where the people will beg the Government to please leave them in Poverty.

“The poverty you know is better than the one you don’t know.”

A recently rescued Chibok schoolgirl who was among the over 200 girls abducted by Boko Haram terrorists in 2014 at Chibok Secondary School, Mary Nkeki, has declared her readiness to properly marry her repentant Boko Haram “husband”.

She was forcefully married to the insurgent before the two of them escaped from the enclave of the terrorists in Dikwa local government area of Borno State.

She disclosed this yesterday during an interaction with journalists at the command and control centre of “Operation Hadin Kai” in Maiduguri, the state capital, where she was presented to the public by the theatre commander, Maj. Gen Gold Chibuisi.

The rescued girl who is number 55 on the list of missing Chibok schoolgirls said she escaped alongside her “husband” from captivity.

Nkeki said on the day of her escape, she disguised with her repentant terrorist husband to be a former fighter of the terrorists on the pretext of going somewhere, before escaping at night through the Dikwa area where they were rescued by the troops of the Operation Hadin Kai.

This year marks the 10th year she has been in the hands of the Boko Haram terrorists where she was forcefully married to two different jihad fighters.

Nkeki said she gave birth to a girl child, but lost the baby due to harsh conditions in the captivity.

“What I want to do now is to marry my husband that escaped with me. I don’t want to go back to school so as to avoid being abducted again as before. This is my 10th year in the hands of the terrorists. I married two different husbands during my captivity. We were suffering there until God gave us the opportunity to escape.

“My husband was formerly a Boko Haram fighter, but has now repented and surrendered. Two more Chibok schoolgirls are still in the place I escaped from. I gave birth to a baby girl to one of the fighters but she died after her birth,” Nkeki said.

In his comment, Maj-gen Chibuisi said a series of operations had been embarked by the troops towards realising its mandate of ridding the North-East of terrorists, adding that “Operation Hadin Kai” has continued to apply kinetic and no- kinetic strategies with positive results.

Chibuisi said these positive results are evident in the rescue of 16 Chibok Schoolgirls recently, revealing that those rescued so far include Ester Marcus on serial number 103 of the missing Chibok schoolgirls; Hauwa Marta serial number two; Aisha Greama on serial number 11; Hanatu Musa of serial number seven; Serah Luka on serial number 38; Ruth Bitrus serial number 41; Mary Dauda serial number 46; Hauwa Joseph serial number 18; Falmata Lawan serial number 3; Asabe Ali serial number 12; Yinkuyi Yamau serial number 20; Yana Pogu serial number 19; Rejoice Sanki serial number 70 , and Hassan Adamu on serial number 35.

The theatre commander said in line with international best practices and determination to consolidate on the gains recorded so far, troops of “Operation Hadin Kai have yet again rescued another Chibok Schoolgirl, Mary Nkeki on the 14th of August this year.

“Mary Nkeki was rescued by troops of 81 Task Force Battalion during operations into the terrorists’ enclave. She is on serial number 55 of the abducted Chibok Girls list. She is 27 year old , Kibaku by tribe from Kabur Mbula village of Chibok local government area of Borno State.

“While in captivity she was forcefully married to one Adamu, a Boko Haram fighter. She has been equally resuscitated and will be handed over to the Borno State government.”

She was later handed over to the officials of the Borno State Ministry of Women Affairs and Social Development for rehabilitation.

Global financial service firm JP Morgan has estimated Nigeria’s net foreign reserve to be around $3.7 billion.

The figure is far below the $33.8 billion as of August 17 on Central Bank of Nigeria (CBN) website.

JP Morgan’s estimate is much lower than the net figure of $14 billion reported at the end of 2021.

The bank disclosed this in its latest report on Nigeria titled “Nigeria: Reform pause rather than fatigue”.

It noted that the lower-than-reported forex reserve is the result of larger currency swaps and borrowings against the forex reserve.


The global financial institution said: “Based on partial information from the audited financial accounts, we estimate that CBN’s net forex reserves were around $3.7 billion at the end of last year, from $14 billion at the end-2021.”

According to the bank, the assumptions followed an addition of $5 billion in International Monetary Fund Special Drawing Rights (SDR) to external reserves to arrive at total gross forex reserves of US$37.8 billion.

This, it said, was broadly in line with the 30-day moving average of US$37.08 billion previously published on the central bank’s website.

It added that by adjusting the gross external reserves with three key forex liability lines that include forex forwards ($6.84 billion), securities lending ($5.5 billion) and currency swaps ($21.3 billion).

It estimated currency swaps by backing out forex forwards and outstanding Over The Counter (OTC) Futures balances from an overall aggregate published in the financial accounts.

The bank said the CBN still can withstand the pressure accompanying the low forex reserve especially, as profit from swap arrangements between the CBN and commercial banks, the rates will continue to rise.

Operatives of the National Drug Law Enforcement Agency (NDLEA) have intercepted $20 million suspected to be counterfeit during a stop and search operation along Abaji-Lokoja road, within the Federal Capital Territory.

In a statement on Sunday, Spokesman of the agency, Femi Babafemi, said that the fake money was recovered from a bus coming from Lagos to Abuja, while the 53-year-old driver of the vehicle, Onyebuchi Nlededin, was arrested.

Following reactions from fans online slamming the Nigeria Football Federation after just three members out of the 23-woman Super Falcons were received by the wife of the President, Remi Tinubu, on Monday in Abuja, a top official of the NFF told The PUNCH that the body’s General Secretary Mohammed Sanusi told players and officials that the Presidency asked that the team list be “trimmed down.”

The Falcons crashed out of the ongoing Women’s World Cup in Australia and New Zealand with heads held high after losing to England on penalties following a thrilling 120 minutes in the round of 16.

The 11-time Africa champions were the better sides of the two teams but were unlucky not to get to the quarter-finals of the tournament after Desire Oparanozie and Michelle Alozie missed from the spot.

Despite crashing out of the World Cup President Bola Tinubu and his wife, Senator Oluremi Tinubu, commended the Falcons, with the First Lady adding that she would host the team on their arrival in the country.

She kept to her promise, but surprisingly only three members of the team were received by the Presidency, raising eyebrows among fans who watched the Falcons put up one of the finest performances at the women’s football showpiece tournament.

Our correspondent learnt Mrs Tinubu gifted each player $10,000, while officials got $2,500 each.

A photo posted on the NFF Twitter handle on Monday had the wife of the President, wife of the Vice President, Hajia Nana Shettima, wife of the Senate President, Ekaette Akpabio, NFF president Ibrahim Gusau; NFF 1st VP, Felix Anyansi-Agwu and the NFF General Secretary Mohammed Sanusi, with Falcons captain Onome Ebi, Christy Ucheibe and Tochukwu Oluehi.

Reacting to the post, Nnaji Obed Asiegbu wrote, “You are very unfair. Hosted only three players. Where are the other players and technical crew? This is ridiculous and I feel embarrassed to see Mr Felix joining to perpetuate this act of wickedness. It shows no organisation. The team is supposed to be arranged by the NFF to return to Nigeria officially then their return to their bases also to be sponsored. It’s a national assignment.”

Frank Obisike rhetorically asked, “Are these the full squad? Or it’s only three girls that went to the competition?”

“Shame won’t allow you people to post this rubbish, go and see how the Ireland team was welcomed. You are welcoming three players that already have their tickets paid for by FIFA? Why didn’t you pay for all the players to touch down in Abuja first?” Ezechukwuka wrote.”

Also wondering why only three players were received Akpati Nshiegbe equally asked, “@thenff why do we have only three players in attendance?”

Another fan with the username Shezzy wrote, “Why does it look like the players selected by the NFF are the ones loyal to them?”

However, it was learnt that an original list that had 21 names — four players, nine backroom staff and eight sports ministry and NFF officials — for the visit to the Villa was trimmed down to just six players and officials on the order of Sanusi.

An aggrieved senior official of the NFF told The PUNCH he was among those listed, but later omitted for the reception, adding that the federation left out some players for fear that they would “leak out some secrets.”

“I was surprisingly left out too,” our source, who spoke on condition of anonymity for fear of being victimised, told The PUNCH.

“The First Lady said she would host the team, but suddenly we heard stories that the Presidency said the team that will attend the reception should be trimmed down. They (NFF) know that the players are aggrieved and will talk and leak out some secrets. The original list had most of the backroom staff but after some days, the GS (General Secretary) sent a message to Amina Daura (Head of Women’s Football, NFF) that they want only him, Anyansi and Gusau with just five players.

“Then after the First Lady received them, they were told to write down the names of the remaining members of the team who were not at the event, and their account details, but Sanusi told them to write down the names of only the players, leaving out other backroom staff members who were not at the ceremony. When the names of the other players shortlisted for the reception Glory Ogbonna and Nnadozie, who were absent, were announced, Sanusi went to collect their money but he was told they won’t deal with him or any other person except the team captain Onome Ebi.”

The PUNCH contacted two backroom staff members who were absent at the ceremony, but both said they’ve not been asked to submit their account details, while a player, who flew back to her base from Australia, said she had been told to send her details.

A senior Falcons player said the exclusion of some players from the reception was a reflection of how Sanusi handled the team’s matters.

“Some of the players are around. Why didn’t they go to Abuja? Governor Ademola Adeleke of Osun State received Rasheedat Ajibade and Rofiat Imuran, why were they not in Abuja? Asisat Oshoala, Gift Monday and Ajibade were also hosted by the Lagos Governor. Were they in Abuja? The Imo State Governor also held a reception for Desire Oparanozie, Chiamaka Nnadozie, Osinachi Ohale and Tochi Oluehi, who went for the reception in Abuja. Why was Desire, Nnadozie and Ohale not in Abuja?”

She added that the players had lost confidence in how the General Secretary managed issues concerning them.

“He had a meeting with us on one of our trips and told us — support staff, players coaches and Randy were there — that ‘if you think you are in the national team to make money, you better step down.’ But it’s this same man that collects his estacode steadily, he collected $600 per night at the World Cup while the players got $100 and its him saying this to people who left their families for months. Are they there to play? During (Amaju) Pinnick’s time, we were paid $5,000 win bonuses but GS told us we would be paid $3,000 in Australia. How do you think the girls will be happy? And the man feels he is doing the girls some favour.”

The PUNCH reported last month that shortly before the Nigerian contingent departed Abuja for Australia July 2, Sanusi, during a meeting with the players, told them that they would not be paid their $3,000 match bonuses by the federation, since FIFA had already announced that every player would get $30,000 in the group stage of the tournament in Australia and New Zealand.

The PUNCH was told that he also announced that the players would no longer be given 30 per cent from the $1,560,000 FIFA grant to all member associations for the group stage of the competition.

Efforts by our correspondent to reach the NFF General Secretary Mohammed Sanusi to comment on the issue proved abortive.

Sanusi didn’t pick his calls at about 1:57pm and 3:38pm on Tuesday and Wednesday respectively, and he also didn’t respond to messages sent to his WhatsApp at exactly 2pm on Tuesday and 3:45pm on Wednesday.

However, NFF spokesman Ademola Olajire, who The PUNCH learnt was also on the list to the Villa but had his name removed, said only three players were available for the reception.

“Only three players were available. What’s difficult to understand in that, and where’s the negative slant?,” Olajire told The PUNCH.

“It’s time for pre-season activities for clubs ahead of the season, and most of them left immediately on arrival. The US-based girls flew directly from Australia to the USA.”

The division among some ex-militants has widened over planned visit to Aso Rock by one of the former warlords and alleged refusal by the presidency.

This is coming after the June visit to President Bola Ahmed Tinubu at Nigeria’s seat of power by Asari Dokubo.

During the visit, Dokubo addressed State House correspondents from the press chamber. The picture of him sitting in front of Nigeria’s Coat of Arms triggered outrage.

Dokubo’s controversial remarks on oil theft and insecurity also generated backlash, after which the presidency allegedly barred all ex-militants from visiting Aso Rock.

This do not go down well with some other warlords who had planned to visit Tinubu as they blamed Dokubo over his “vituperations”.

Speaking with Daily Trust on Thursday, ex-militant leader who is also the Mayor of Urhoboland, Eshanakpe Israel a.k.a Akpodoro, called on the presidency to only bar and decline audience to Dokubo and not other warlords whom he described as reputable.

Akpodoro argued that Dokubo should be singled out for sanction since the leader of the Niger Delta Volunteer Force (NDVF) was not elected to represent the body of ex-militants.

“Dokubo flies his own flag. FG should not treat vicariously other former warlords who willingly surrendered arms at the end of the armed struggle in the Delta”, Akpodoro who is the leader of the Coalition of Niger Delta Ex-Agitators (NCNDE-A) said.

Ex-militants he noted, are quintessential, astute, eminent and top-notch peace builders who are hungry to add their quota to the growth and development of thei country.

The law enforcement agencies have the dosier of all ex-militants, he said, if anyone is found wanting there shouldn’t be hesitation to rein in such character who runs foul of the law at any time rather than punishing others for the sin of one element.

He also said rather than turning vicious in our criticisms of the policies and programmes of the government, the citizens should support the President to build a virile nation where the people will be better for it in short term.

The feud between Governor Godwin Obaseki of Edo State and his deputy, Philip Shaibu, has continued to degenerate, with the governor sending an apparent warning to Mr Shaibu that the “emilokan spirit” was unacceptable in the state’s politics.

Emilokan, a Yoruba word which means “it is my turn”, was made popular by President Bola Tinubu during his campaign for the 2023 election.

The ideology behind the word as used then by Mr Tinubu was that he had worked for President Muhammadu Buhari to become the first opposition leader to be elected Nigerian president, and therefore it was his (Tinubu’s) turn to be president after Mr Buhari.

“The ‘Emilokan’ syndrome or spirit is not a strategy for winning elections and ruling Edo people,” the governor of Edo was quoted as saying on Tuesday, according to a statement forwarded to PREMIUM TIMES by Crusoe Osagie, the special assistant on media project to the Edo State Government.

Mr Obaseki made the remarks when the leaders of the Edo South Senatorial District paid a solidarity visit to him in the Government House, Benin.

The governor said the Edo people would not accept “Emilokan” as a strategy.

“They are not known for that. For us, it is the people that will decide,” he said, apparently referring to his deputy, Mr Shaibu, who is said to be nursing the ambition to contest for the 2024 governorship election in the state.

In their days in the All Progressives Congress (APC), during the intense political fights between Mr Obaseki and his erstwhile benefactor, Adams Oshiomhole, Mr Shaibu stood solidly behind Governor Obaseki.

Mr Oshiomhole, who was the APC national chairman then, blocked Mr Obaseki from getting the APC governorship ticket for his reelection bid, forcing him to move to the Peoples Democratic Party (PDP). Mr Shaibu moved with the governor to the PDP, and both of them got a joint ticket and defeated the APC governorship candidate, Ize-Iyamu Osagie, to win the election.

By bringing up the emilokan, Governor Obaseki is probably telling Mr Shaibu not to feel that he is entitled to succeed him.

Mr Shaibu recently asked the court to stop an alleged plot by Governor Obaseki to remove him from office.

The governor, meanwhile, has accused Mr Shaibu of manipulating the youth council election in Edo because of his (Shaibu’s) political ambition.

“What has happened in the last few months is strange, and even if you have ambition, this is not the time to express it. The timetable for the election is not out. You can’t be part of a government and also be the one to destabilise the same government,” the Tuesday statement quoted Mr Obaseki as saying.

“I thought we came together and will leave together and let the people say you have done a great job, and they will now make the decision themselves. They are the ones to say that come rain or sunshine; we must continue.

“You are telling the world one thing and yet doing another. You are loyal to your principal, and yet you are in court with your principal. Everybody has the right to be ambitious but do it the right way.”


‘Making Shaibu visible is not a crime’

Governor Obaseki said people have been blaming him for allowing his deputy to be “visible” in the administration.

“Elevating a Deputy Governor and making him visible is not a crime. But this I did because I want to build institutions rather than individuals. To mistake that and misuse it is really unfortunate, as you have created the impression that the deputy governor should not be given responsibility.

“People are already blaming me now for giving him responsibility and visibility, and it’s my fault. How can it be my fault when you want to groom young people? I believe when young people work with you, give them opportunities and expose them, preparing them for leadership positions in life, praying they don’t abuse the privilege.

“I have no regret for exposing my deputy to power and leadership position. I have not made any mistakes, but he is the one that made the mistake. I hope he retraces his steps. He is the one that took me to court; he should be the one to talk to, not me. We are determined and focused to finish well, and with your support, we are sure to finish well,” the governor said.


Shaibu reacts

The deputy governor has, however, denied the existence of a rift between him and the governor.

According to a recent report by the Vanguard newspaper, Mr Shaibu said he remained loyal to Mr Obaseki and that “political jobbers” were trying to create a problem between him and the governor.

“Governor Obaseki and myself are committed to the continued development of Edo State.

“We are united in our determination to build a prosperous and inclusive society. I call on all well-meaning individuals to reject these divisive narratives and join in the quest to transform Edo State into a model of sustainable development and good governance. Edo State PDP politicians should embrace peace and seek unity to fight the common enemy,” Mr Shaibu was quoted as saying.

The Senior Special Assistant to the President on Media and Publicity, Tope Ajayi on Tuesday said there were no plans by the administration of President Bola Tinubu to reintroduce fuel subsidy.

Ajayi made the assertion on X formerly known as Twitter at 6:08 pm WAT.

He said, “There is no plan to reintroduce any form of fuel subsidy. There is no condition to support any increase in prices at this time. President Tinubu is convinced based on information before him that we can maintain current pricing without reversing the current deregulation policy by swiftly cleaning up existing inefficiencies within the midstream and downstream Petroleum sector.”

Ajayi’s comment followed news about a temporary reintroduction of fuel subsidy following the increment in the landing cost of fuel due to the free fall of the Naira in the parallel market.

Nigeria has continued to grapple with the soaring costs of goods and services due to the removal of the subsidy on petrol and the unification of the naira at both the I and E window and parallel markets by the Central Bank of Nigeria.

On Monday, independent oil marketers hinted at a possible increase in the cost of fuel owing to the increment in the landing cost of the product.

The naira yesterday depreciated at both the official Investors and Exporters’ (I&E) window and the parallel market, with the arbitrage gap now at N206/$1, thereby enabling round tripping, one of the reasons President Bola Ahmed Tinubu told Nigerians in Paris, that the suspended Governor of the Central Bank, Godwin Emefiele was arrested.


This effective dual exchange rate emerged just as the acting Governor of Central Bank of Nigeria (CBN), Mr. Folashodun Shonubi, yesterday, warned that the government would come down hard on currency speculators and others involved in underhand undertakings in the foreign exchange market, including the parallel market.

The wide gap between the I&E Window and the parallel market enables round-tripping as dealers buy the greenback at the official window at N744 to a dollar and then sell at the black market at N206 spread, thus encouraging rent-seeking. A dealer who declined to be named told THISDAY yesterday that the growing gulf between official and parallel market makes it attractive to round trip. “As things stand now, it is very attractive to buy dollar from the official window and then go straight to the parallel market and sell at a higher price, making N206 or more in profit on each dollar. You can’t make that kind of profit from manufacturing. Inflation will erode your profit,” the dealer declared.

The President had during an interactive session with Nigerians residing in France and neighbouring countries, said the financial system was rotten under Emefiele.

He said “Then the financial system was rotten. Few people made bags of money and then you yourself, you stopped sending money home to our poor parents. Several windows. But that is gone now. It’s gone.

“The man is in the hands of the authorities. Something is being done about that. They will sort themselves out.”

THISDAY checks at some parallel market points in Lagos State showed that the naira weakened by N20 to N950/$1 yesterday, lower than the N930/$1 it closed last Friday.

The official I&E window, which had opened trading yesterday at N740/$1, marginally depreciated by N4 at the close of the day to N744/$1. With this, the gap between the parallel market and the official I&E window has now gotten to a historic high since the FX reforms, to N206/$1.

However, Shonubi gave the warning to crackdown on speculators when he addressed newsmen, after meeting with President Bola Tinubu at State House, Abuja.

The meeting followed the downward slide in the naira exchange rate to the dollar, which Shonubi said the president was worried about. The acting CBN governor expressed the apex bank’s readiness to reverse the glide, saying it has lined up intervention measures that would be unveiled in the next few days.

Shonubi said Tinubu was concerned about the development in the FX market and its effect on the people, saying he discussed with the president what can be done to stabilise the naira.

Shonubi noted that the changes going on in the parallel market were not dictated by real demand, but the speculative attitude of some dealers. He warned that the speculators would suffer huge losses when government activates its strategies.

Shonubi stated, “Mr. President is very concerned about some of the goings on in the foreign exchange market.

“One of the things we discussed is what could be done to stabilise and what could be done to improve the liquidity in the market and also the goings on in the various other markets, including the parallel market.

“He (Tinubu) is concerned about its impact on the average person, since, unfortunately, a lot of activities that we do, which are purely local, are still referenced to exchange rates in the parallel market.

“We’ve discussed and I’ve shared with him what we’re doing to improve supply.”

The acting CBN governor explained further, “If you look at the official market, you’ll find that market has been fairly stable and the spread of the difference has not fluctuated as much.

“We do not believe that the changes going on in the parallel market are driven by pure economic demand and supply, but by speculative demand from people.

“Some of the plans and strategies, which I’m not at liberty to share with you, means sooner rather than later, the speculators should be careful because we believe the things we’re doing, when they come to fruition, may result in significant losses to them.

“But my presence here is more about the concerns the president has and he needs to know that we are doing something about it, assurances of which I have given him totally.”

He added, “So I hope this helps. We are looking at it and we’re doing things, which will significantly impact the market in a few days’ time and we will all see it.

“The intention is to ensure the environment operates at a level that’s more efficient, but also that is very reasonable and does not have a negative impact, to the best that we can, on the life of the average person.”


Meanwhile, a report identified inadequate dollar supply as the key challenge in the country’s foreign exchange market, following recent floating of the naira.

It noted the widening gap between the official exchange rate and the parallel market.

The report authored by the Standard Bank Research (SBR), a subsidiary of Standard Bank Group, further stated that while the recent monetary policy actions of the CBN reinforced a continued progression towards a monetary policy stance that better aligned with the challenges of excess naira liquidity and demand for the US Dollar, more needed to be done by the monetary authority.

The report, however, maintained its forecast for the USD/NGN at N750 by year-end.

The SBR further maintained that despite persistent increases in policy rate, monetary policy transmission had remained weak.

It urged the CBN to use more potent tools, such as shorter-dated, high-yielding OMOs, and increase commercial banks’ capacity to invest in the Standing Deposit Facility.

The report added, “These measures have the potential to increase yields at the front end of the treasury curve enough to attract USD inflows from foreign portfolio investors, thus, bringing the FX market closer to equilibrium.”

It also pointed out that post-2020, the frequency of Open Market Operations (OMO) auctions has been relatively limited, partly resulting in sustained lower levels of short-term interest rates.

The report added that a higher frequency and magnitude of the auctions should further tighten naira liquidity in the system.

On monetary policy normalisation, the report described the CBN’s issuance of OMO bills for the first time in the year as another step in the right direction. It however, noted that the OMO issuance notwithstanding, “Interest rates are probably still too low to incentivise an increase in USD supply from locals or foreign portfolio investors (FPIs).

“For the former, negative real interest rates are around 12 per cent for 1-y T-Bills and 9 per cent for 1-y OMOs. For the latter, our informal surveys suggest 1-y T-Bill or OMO yields of between 15 per cent and 20 per cent would be required to make the NGN carry trade attractive again.

“Policy normalisation is often used to respond to rising inflation through tightening of financing conditions by raising key interest rates, among other things.

“Central banks are shifting from unconventional monetary policy measures towards conventional interest rate policy – to tighten monetary policy are therefore visible as an increase in the general level of interest rates.”

On his part, Senior Market Analyst at FXTM, Lukman Otunuga, lamented that the naira took another beating on the black-market exchange.

Otunuga stated, “Should the current themes negatively impacting the naira remain present, prices may hit N1000 in a matter of time. Such a development that will most likely increase the cost of living and squeeze households further in the short to medium term.

“Outside of Nigeria, we have witnessed how higher interest rates have somewhat capped and controlled inflation, albeit at a price.

“Dollar weakness could become a major theme in the second half of 2023 as the Fed concludes its hiking cycle.”

Women are increasingly involved in banditry-linked arms trafficking in Nigeria’s north-west. Between December 2022 and February 2023, police arrested several female gunrunners in Nigeria’s Zamfara State for allegedly supplying arms and ammunition to bandits.

Banditry – a composite crime that includes armed robbery, kidnapping, murder, rape and the illegal possession of firearms – is Nigeria’s most pressing security challenge.

Several news reports on illegal arms movements and sales in north-west Nigeria over the past three years involve women traffickers. In October 2021, a 30-year-old woman who specialised in supplying guns to bandits in Zamfara, Sokoto, Kebbi, Kaduna, Katsina and Niger states was arrested with 991 rounds of AK-47 ammunition. She was trafficking the contraband from Dabagi Village in Sokoto State to a notorious bandit kingpin responsible for terrorising Zamfara and neighbouring states.

In March 2022, Nigerian police arrested a 38-year-old female in connection with arms and ammunition smuggling from Plateau State to various bandit camps in Kaduna, Katsina and Zamfara. Eight locally made AK-revolver guns, submachine guns and 400 rounds of AK-47 ammunition were recovered from the suspect.

An estimated 30 000 bandits in groups ranging from 10 to over 1,000 fighters operate in north-west Nigeria. According to the Armed Conflict Location & Event Data (ACLED) project, attacks by these groups increased by 731 per cent between 2018 and 2022 (from 124 to 1,031 incidents). There were around 13,485 banditry-related deaths between 2010 and May 2023. ACLED data relies on local sources and media reports, which means many incidents may go unrecorded.

Banditry pervades Kaduna, Katsina, Kebbi, Niger, Sokoto and Zamfara states and is fast spreading to parts of north-central Nigeria and south-west Niger. A combination of factors makes Nigeria’s north-west susceptible to attacks. These include poorly managed security resources, conflicts between pastoralists and farmers, illegal gold mining, declining rural livelihoods, poor management of Nigeria’s international borders, weak law enforcement and a failure of security intelligence.

State officials say the major enablers of banditry are porous borders and arms trafficking. As far back as 2019, Nigeria’s information minister at the time, Lai Mohammed, said 95 per cent of weapons used for terrorism and kidnapping are trafficked through the country’s borders, emanating borders, emanating from Libya and other war-torn sub-Saharan African states.

The recent increase in women’s involvement in arms trafficking should be viewed in the context of north-west Nigeria’s economic downturn, which disproportionately impacts women, says Umaima Abdurrahman, a gender activist in Kaduna State. She told the ENACT project that poverty is a significant driver of women’s links to criminal activities such as drugs and gunrunning.

The most recent Global Multidimensional Poverty Index (MPI) shows that 80 per cent of people in north-west Nigeria are poor. Although the MPI does not disaggregate by gender, women bear the brunt of poverty in Nigeria. Most women in the country’s rural north depend on subsistence farming for food and income and comprise the bulk of people experiencing poverty in rural communities.

Credit constraints also limit women’s economic potential in the North-west. About 70 per cent of women are likely to be excluded from access to financial services and the formal economy. Poverty among women is also rooted in the low rates of girls enrolled in school – only 47 per cent receive primary education in the north-west.

Women have limited livelihood options, receive lower salaries (if at all) and are often trapped in intergenerational cycles of poverty. Ms Abdurrahman says bandits take advantage of this poverty, enticing women into arms trafficking for money or other valuable materials.

According to Larai Garba Talbu, a journalist in Sokoto State, banditry is male-dominated, and the few women involved are mostly the gangsters’ friends or associates with whom they might share ransom money.

Bandits co-opt women into their criminal activities by copying Boko Haram’s methods in north-east Nigeria. As police and soldiers uncover smuggling operations and routes, terrorists recruit women as arms couriers because they are less likely to raise suspicion. The women hide AK-47 rifles under their veils or conceal improvised explosive devices on their backs as if they were babies.

The increasing involvement of women in gunrunning is a challenge that security operatives can unravel through strategic intelligence gathering. Because women are rarely perceived to be involved in organised crime, especially as leaders, traffickers or recruiters, they are more likely to fly under the radar of law enforcement. Organised criminals exploit this gap in policing intelligence and investigation.

In his 29 May inaugural address, President Bola Ahmed Tinubu said security would be his administration’s top priority. He promised to invest more in security personnel by providing better training, equipment, pay and firepower. While these promises are commendable, the dynamics of insecurity are changing fast, and addressing the gendered dimensions of banditry calls for a holistic approach.

Female security and law enforcement agents must be recruited, trained and resourced to aid intelligence gathering in local communities. These officers should search women at checkpoints and engage with those arrested for their involvement in organised crime.

Civil society groups and community leaders should raise awareness among women in affected communities about the personal and widespread harms of associating with bandits and arms traffickers.

And most important is the need for government to address the gendered disparity in education and the impact of poverty, both of which make women vulnerable to recruitment by Nigeria’s armed groups.

By Ochogwu Sunday


The Senate last week confirmed 45 Nigerians as members of the Federal Executive Council.

They are part of the 48-man list submitted to the red chamber of the National Assembly by President Bola Ahmed Tinubu.

All eyes are now on the ministers-designate, expectations are high that with them, the country would be lifted out of its present economic quagmire.

According to some stakeholders, the current economic situation birthed by the removal of fuel subsidy would be minimised when all members of Tinubu’s cabinets assume their various offices.

DAILY POST reports that the President who took over the mantle of leadership from the former president, Muhammadu Buhari on May 29, has piloted the affairs of the nation nearly three months without a cabinet.

Tinubu, after 57 days in office, transmitted a list containing the first batch of 28 ministerial nominees to the Senate on July 27. The second batch containing 19 names was forwarded to the upper chamber on August 2.

Amid controversies that shrouded the screening of some of the nominees, the senate on August 7 announced the confirmation of 45 out of the 48 nominees.

A former senatorial aspirant in Benue Zone B, Iorfa Thomas told DAILY POST on Saturday that when the ministers assume duty after they have been assigned their various portfolios, the current economic situation may be reduced.

He said, “Governance is not just about one or two persons. Tinubu and his aides can’t do the jobs alone. No matter how good they are, they cannot be everywhere at the same time.

“If the portfolios are assigned based on expertise and not just to favour some group of persons, then we should be expecting changes in the current situation.

“I am optimistic that the party nominated those that have the capacity to handle the various ministries. So if they all assume their various offices and start working, definitely there will be changes.

“We really need to be patient with the government right now. Tinubu has done well by beating the 60 days deadline and this is why his administration is expected to be different”.

However, there are concerns particularly from the opposition parties that the nomination was allegedly aimed at rewarding some bigwigs in the party who may have worked for the victory of the President in the February election.

DAILY POST reports that the ministerial list contained at least nine former governors from different states across the nation, former ministers and lawmakers who were part of the presidential campaign.

Speaking on this, a chieftain of the Labour Party and the Chief spokesperson for the defunct Obi/Datti Presidential Campaign Organization, Dr Yunusa Salisu Tanko declared that there is nothing good about the process of the ministerial nomination.

According to him, “What do you expect from an administration that rigged its way to power? The entire administration is faulty, and this is why we are challenging it.

“Our case in court should tell Nigerians that we don’t even trust the government in the first place. If the government is bad and we are challenging it, then is it the ministers that you think will be good?”

Meanwhile, recall that the lawmakers failed to confirm three of the nominees.

DAILY POST reports former governor of Kaduna State, Nasir El-Rufai, former Deputy Governor of Taraba State, Senator Abubakar Danladi and the nominee from Delta State, Stella Okotete were unable to scale the hurdle of screening over security reasons.

While it is yet unclear what would be the fate of the three nominees, DAILY POST gathered that El-Rufai who was expected to head the power sector, has jettisoned the ministerial ambition.

A source conversant with the development said the former governor has informed the President that he is no longer interested in the ministerial slot.

The APC chieftain, who chose not to be mentioned, said El-Rufai made his stance known to the president during their Tuesday meeting in the State House, Abuja.

“He had wanted to leave the country to rest abroad after he completed his eight years in office in May this year. Tinubu begged him to join the cabinet. It took El-Rufai some weeks to agree to serve in this administration.

“I’m beginning to believe that we Nigerians don’t like progress. There are some elements in Aso Rock who are plotting against El-Rufai and it’s all because of the 2027 election.

“Some of them don’t trust El-Rufai and that is just the truth. They feel threatened. They think he will plot against Tinubu and support Shettima, his fellow northerner in 2027, which I don’t think is possible.

“El-Rufai had commenced an investigation to know why Nigerians are not able to have constant electricity after so many years. He was ready to transform the power sector which is the bedrock of economic growth.

“He had previously done well at the federal level. The Federal Capital Territory is one of the best cities in Africa today all because of El-Rufai but ethnicity won’t allow some people to reason in this direction,” he said.

DAILY POST reports that indication emerged on Saturday that El-Rufai may have jetted out of the country.

It was learnt that the former governor, who is off to the United Kingdom, vowed to steer clear from Nigerian politics while enjoying his rest.

A middle-aged man, Theophilius Obayan, has dragged his wife, Chibuzor Lillian Obayan, before a Customary Court sitting in Oke-Eda, Akure, seeking the dissolution of his 23-year-old marriage, over attempt to change the paternity of his four children.

Obayan alleged that his estranged wife deliberately changed his children’s name to her new husband’s name, and urged the court to dissolve the 23-year-old marriage with Chibuzor.

Obayan told the court that his marriage “from onset was characterised by crises, abuse, disobedience, misunderstanding, lies, manipulation, hate and rage.”

He said: “I married Lilian in the year 2000 and we have four children. I am Yoruba, while my wife is Igbo. I have suffered a lot in the hands of her family because they don’t love me, but I’ve been enduring.

“Lilian packed her belongings out of my house to another man’s house in 2019 and went to change her name, including my children’s surname to the name of the Igbo man she’s engaged to.”

He said that he never had access to any of his children after his wife moved out of his house and therefore asked the court to dissolve the marriage and grant him the custody of his children and revert to his name as their surname.

In her defence, Lilian told the court that her former husband, Obayan was “grossly irresponsible” She said: “My lord, life was not easy for me over the years we have been together.

“In fact, Obayan derived pleasure in always molesting and beating me to the extent that I got fractures. Obayan is not a good husband to me and a good father to his children, as he doesn’t pay their school fees nor care about how they are living.

“He didn’t pay my dowry. So, I finally found a man to marry me and my new love wants my children to bear his name instead of that of their irresponsible father.

“Our children are old enough to choose for themselves as they are no more babies. My first two girls, Mayomi and Damilola are 22 and 20 years old respectively, while the boys, Ariyo and Aduragbemi are 18 and 16 years old respectively.”

Lilian added that she was in court with witnesses to establish whether or not there was a traditional marriage between her and the petitioner, urging the court to dissolve the union since Obayan did not pay her dowry.

In his ruling, president of the court, Mr Olusegun Rotiba, urged the parties to allow peace to reign between them and adjourned the matter till September 28, 2023, for continuation and adoption of oral addresses or probably judgment.

Practice no longer new – Ex-NMA chair

Meanwhile, a consultant haematologist with the Usmanu Danfodiyo University Teaching Hospital, Sokoto, Dr Sani Abubakar, explained that harassment of male doctors by men when it concerns their wives was almost a daily occurrence, especially in northern Nigeria.

Abubakar, a former chairman of the Nigerian Medical Association in Sokoto State, described the actions of such men as overprotective and lacking in proper orientation and exposure.

He stated, “It is a natural thing for every man to protect their wives and children but we should realise that while protecting them, there ought to be a limit to what we do so as not to cause more harm than good to them.

“It is a known fact that all over the world, we have more of male doctors when compared with their female counterparts, even in a field like gynaecology, which deals with women, you still realise that more men are involved than even women.

“It is almost compulsory for a male doctor to attend to female patients. We should know that in the health sector, there is no gender limitation as to who can attend to who.”

The top medic dismissed attempts to link such behaviour to religion or culture, saying lack of proper education was responsible for such behaviour.

Abubakar added, “Even though people link the attitude of some men who went to the extent of attacking a health worker or their wives to religion or culture, I think it is more of a lack of education.

“When you look around here in the northern part of the country, you will find out that most people that are educated and exposed hardly do such a thing. Most times, it is the illiterates among us that do that, most of whom really don’t know what the religion said about such an issue.”

Sharing his personal experience with a patient’s husband, Abubakar stated, “There was a day a woman came for examination and while I was attending to her, I think when the husband was informed that she had gone to the hospital, he quickly rushed to the hospital and was asking about his wife at the ward. When they told him she was inside with the doctor, he forced his way in.

“Upon entering the consultation room, he met his wife lying down on the examination bed but fortunately for me, he met a female nurse standing by her while I was on the screen asking questions. That was what made him relax, otherwise he would have done something silly.”

Abubakar called on his colleagues to always be guided by the rules of the profession, adding, “It is wrong for a doctor to ask the husband to excuse them while attending to the wife. It is also part of our ethics for a doctor to have a chaperone or a third party. Such a person can be a relative of the patient or even a nurse, which would help to give more confidence to the patient or her family.

He said further, “On insinuations that male doctors take delivery of women in the labour room, we should note that the job of doctors in the labour room is limited unless there is a complication. That is why we always have midwives whose duty is to take delivery, and it is a female dominated profession.”

The haematologist, while condemning the action of men who went to the extent of divorcing their wives for allowing male doctors to attend them, observed that most of them only use that as an excuse as there might have been an underlying issue.

He also called on parents to allow their girl-child go to school so as to minimise the barrier, while reminding them not to deny anyone, especially their wives, health care which he said remained their constitutional rights.

In Katsina State, findings by Saturday PUNCH indicate that all eyes are on the state government for the implementation of the Child Protection Law, which aims to, among others, protect children in the state against all forms of abuse, including hawking, rape, denial of education and early marriage.

It was signed on December 29, 2020 by the immediate past governor, Aminu Masari, after its passage by the state House of Assembly on November 25, 2020.

Some individuals, members of civil society organisations in the state as well as international organisations, especially the Save the Children International, have engaged in extensive consultation and advocacy before the law came into being in the state.

Despite the passage of the law a middle-aged man, identified as Samaila, was arrested in Katsina following the discovery that he locked his two wives, Fatima Salisu and Hadiza Musa, in a room in his house, chained them and subjected them to inhuman treatment for 10 months.

Fatima is from MarkeMagaji Garin village while Hadiza is from Kalyarubandaba village, both in Katsina State. Both women were aged 20 years at the time and did not have children for Samaila.

Samaila, who was living with the two wives at Yannadabaiyye village in the Rimi Local Government Area of the state, was picked up by the police from the Rimi divisional police headquarters before he was transferred to the State Criminal Investigation and Intelligence Department at the Katsina police headquarters for further interrogation.

Reprieve came for the two women when Hadiza’s mother paid her a surprise visit in the village.

It was learnt that the old woman pleaded with Samaila to allow her go away with a sewing machine she bought for Hadiza since she (Hadiza) was not using it there.

Samaila, it was learnt, refused to release the machine. Instead, he allegedly assaulted her physically.

The woman reported the incident at the Rimi divisional police headquarters, which prompted policemen to visit Samaila’s house, where the two women were found under terrible conditions.

Fatima and Hadiza, who spoke in Hausa, alleged that Samaila locked the two of them inside a room, shaved their pubic hair and cut their fingernails.

They alleged further that he prepared a concoction with the items and forced them to drink.

Hadiza further alleged, “Samaila never allowed us to leave the room. We did everything in the room; we bathed there; we answered the call of nature there. He chained us and only removed the chains whenever he wanted to have sex with us, and he would have sex with us inside the room and in the presence of the other person.”

Hadiza also showed one of our correspondents her back, which was riddled with scars, sores and injuries sustained from the beatings she allegedly received from Samaila whom he alleged, used to flog her and Fatima with cable.

Although their offences were not exactly stated, Fatima disclosed that she was the first to be locked in the room 10 months ago before he married Hadiza and also locked her up in the room 10 weeks after.

Fatima alleged that Samaila threatened to kill any of them found menstruating or with blood stains.

None of the two women could say what Samaila’s job or business was, although they said he always came home with wads of N500 notes.

A Katsina-based non-governmental organisation, Gender Associates and Social Inclusion, showed interest in the plight of the two women and ensured that Samaila faced the wrath of the law.

The spokesperson for the organisation, Hajiya Rabi Muhammed, told Saturday PUNCH that the association took the women to a hospital for medical checkup and bought some foodstuffs for them before they were returned to their respective villages.

She added, “We took the two women to a hospital in Katsina, we counselled them and worked on their badly damaged psyche. We also gave them some foodstuffs. Those were the interim arrangements we made for them pending the time the police would complete their investigation on Samaila. We shall definitely empower them to help them pick up again.”

While the NGO says it awaits the conclusion of police investigations, there are strong indications that the governors, concerned government officials, community leaders, traditional rulers, religious leaders, civil society organisations and well-meaning individuals, especially in northern Nigeria, would have to do more to put an end to the discrimination against women and children, not only to save their lives but accord them their constitutionally-guaranteed rights to life, dignity, education and others.

If it were not for the timely intervention of the elderly Islamic cleric at Kizara Village in Tsafe Local Government Area of Zamfara State, Garba Umar would have ended his 15-year-old marriage to his wife, Halima.

Her offence was allowing a male doctor attend to her in the labour room.

Saturday PUNCH learnt that when efforts by other women in the compound failed to help when she went into labour, she was rushed to the Tsafe General Hospital following noticeable complications that often accompany childbirth.

On getting to the hospital, there were no female doctors or nurses on the ground to attend to her. Thus, they were constrained to allow a male doctor on duty attend to her, at which time her health seemed to be failing.

Reluctant to embrace the option, the women said they had no choice but to allow the doctor (names withheld for security reasons) attend to her.

After three days of being in a coma, Halima survived, but she lost the baby. However, her family and friends were consoled that she made it out alive.

But unknown to the distraught mother, the consequences of allowing a male doctor attend to her awaited her at home. Her husband, it was learnt, had become livid, hurled insults at her and even threatened a divorce for allowing a male doctor to attend to her.

Those privy to the drama said Halima was on her way out of the marriage, but for the swift intervention of the cleric, who counselled and cautioned her husband against such a move.

“The cleric told him it wasn’t prohibitive in Islam for a male doctor to attend to a female patient in the absence of female medical personnel,” one of the witnesses told Saturday PUNCH.

Sadly, such an experience is not new, neither is it exclusive to Halima.

The same fate befell Hafsat, a resident of Talata Mafara in Zamfara State, in which case her husband warned that on no account should she seek medical attention from a male doctor in his absence, no matter the gravity of the ailment.

The vicissitudes of life would, however, compel Hafsat to flout the instruction. Like Hafisat, she was delivered of a baby girl by a male doctor when the husband was unavailable. It took the intervention of family and friends that the marriage didn’t end in a divorce.


Double loss for Mukhtar

Unlike Halima and Hafsat, who were both lucky to have their marriages intact despite flouting the ‘golden rule’ set by their husbands, a 14-year-old mother in Zango Local Government Area of Katsina State, Aminat Mukhtar, wasn’t as lucky. Hers ended in a divorce despite aborting her education because of the marriage.

She said her husband divorced her for allowing a male doctor attend to her when she had complications during childbirth. Sadly, she had a stillbirth. Thus, she lost the baby and her marriage.

Mukhtar, who was a JSS 3 student at a government secondary school in 2022, said she was out of school for a year due to the development, noting that her suitor pressured her for the marriage, a situation that made her drop out of school for one year before the outcome of the short-lived marriage compelled her to return to school.

According to her, the school principal, Fatima Muhammed, was impressed with her courage and allowed her to return to the school. However, she could only return to JSS 3 instead of SS1 as her former classmates were already ahead of her academically.

Mukhtar revealed that her ambition in life was to become a school teacher.

She told one of our correspondents in an interview, “I am 14 years old and the eldest in my family. We are three in the family. The other two are a boy and a girl. I am in JSS3.

“‘I was initially attending school here (Government Girls Secondary School, Baure) when I met a man who said he wanted to marry me. He promised me several things and lured me to drop out of school. After I left school, I kept on seeing my schoolmates, and they told me that some programmes were being implemented at the school to assist students who were from poor homes like me. I made inquiries and confirmed that it was true.

“I subsequently called off the marriage proposal, and I returned to the school. Our school principal assisted me a lot, and up till now, she keeps on encouraging me. I have no regrets for my decision to return to school. My ambition is to become a schoolteacher and contribute to the development of my community.”

As heartbreaking as these are, such cases are prevalent in some northern states like Katsina, Kano, Sokoto, Bauchi, Zamfara, Kebbi, Jigawa, and others.

In some of the states, male doctors are reluctant to attend to female patients, especially in public hospitals, without their husbands present, for their own safety or the possible consequences for the woman.

A staff nurse at the Federal Medical Centre, Gusau, Zamfara State, Mohammed Sani, who spoke to Saturday PUNCH said male doctors had stopped attending to female patients, except with the permission of the husband or the guardian, as the case might be.

Sani told one of our correspondents that over the years, there had been marital quarrels, which often led to separation or outright divorce over the issue of male doctors attending to female patients, especially pregnant women.

He stated, “We (male medical personnel) are no longer attending to pregnant women in labour unless we get the written agreement from their husbands or relations. There are so many incidents where pregnant women who are in labour were attended to by male doctors and the issue became unpleasant in the end.

“You know that we have shortage of female doctors, as such, male doctors must be assigned to attend to female patients, especially those in labour.”

On the religious implication, a renowned Islamic scholar, Sheikh Liman Musa-Kura, told Saturday PUNCH that in Islam, male doctors are not allowed to see the anatomy of a married woman except with the consent of her husband or blood relatives.

Kura warned that male doctors should stay off from attending to a woman during labour unless it became absolutely necessary.

The cleric stressed that in the absence of female medical personnel, it was only if the female patient was in grave danger that a male doctor could be called upon to save her life.

Musa-Kura stated, “In Islam, everything is fully explained. It is forbidden for a man to see a female private parts if he is neither her husband nor her blood relation.

“So, in case there is no female doctor around, a male doctor could be assigned to treat a woman in the presence of either her husband or her relatives.”

Meanwhile, Kura lamented the shortage of female doctors in the state, urging the authorities to do something in order to avert the “ugly trend”. He cited the Kingdom of Saudi Arabia “where only female health personnel can treat their fellow women.”

Interestingly, the opinion of the District Head of Gagi community in Sokoto State, Alhaji Sani Umar Jabbi, was different.

According to him, it was unconstitutional to ask housewives not to seek medical attention from male medical doctors, adding that it had nothing to do with religion.

He described as “heartless” the attitude of some men in the northern part of the country, who punish their wives or deny them the right to seek medical attention from the hospital because they do not want them to be attended to by male doctors.

As a way out, the monarch called for more protection for women, especially housewives whom he said deserved the same protection as the men in the society.

He stressed the need to invest in girl-child education, noting that “the consequence of not investing in girl-child education by our people in this part of the country is what causes men to dominate every strategic part, including the health sector.”

Umar Jabbi noted, “The problem with our men in the North is that they have conservative mindset for not supporting women’s education, and unless we provide the opportunity for girl-child education and their empowerment, we will continue to have a gap.

“We must henceforth realise that education of the female children too is part of human rights and should be given priority. The issue of health care is also a guaranteed right of everyone, irrespective of their gender or status.

“I pray we change our perspectives so that in future we can have more human resources to take care of those areas, such as nurses, doctors, gynaecologists, among others, so as to meet our demands.”

Indeed, like Umar Jabbi noted, while it is inexcusable for men to deprive their wives of medical care because of the absence of female doctors and nurses, the menace also highlights the consequences of depriving female children of education, a danger more common in northern Nigeria.

According to the United Nations Educational, Scientific and Cultural Organisation in 2022, Nigeria had about 20 million out-of-school children, especially those aged between six and 18. Even though the Universal Basic Education Commission believed the real figure was about 10 million, Nigeria is said to have one of the highest figure in the world.

According to UBEC, the out-of-school children mainly comprise of the girl-child in northern Nigeria, boy-child in the South-South and South-East geopolitical zones, internally-displaced children, and the Almajiri Qur’anic and itinerant children “who are predominantly found in Northern Nigeria”.

The Department of Special Programmes at UBEC was however mandated to coordinate and implement all special interventions to address the out-of-school children challenge.

Equally contributory to the travails of the girl child, especially in northern Nigeria, is the issue of child marriage. The United Nations Population Fund revealed late last year that no fewer than 20,000 girls were saved from child marriage.

The United Nations Children’s Fund also revealed in a 2021 report that 40 per cent of girls in the country were married before they clocked 18 years. The report said the act of forcing girls into marriage with creditors to offset a loan contributed to the rate of child marriage.

Also emphasising the importance of girl-child education, the Country Representative of UNFPA, Ms Ulla Mueller, said in 2022 at an event, “Education is crucial in realising the potential of women and children. As such, we must ensure that every girl has access to quality education that equips her with knowledge and skills.

“Quality education will also enable girls to have the confidence to pursue their ambitions. When women have equal access to education, they are better able to enhance their own lives and contribute to the growth of their communities. Achieving gender equality is not only essential for its social and economic benefits but also because it is the right thing to do.”

Thus, like Jabbi noted, there cannot be female doctors, nurses and other healthcare professionals to treat pregnant women, much to the desire of some men in northern Nigeria, when the girl-child is deprived of education.

The poor access to healthcare underscores Nigeria’s high rate of maternal mortality, which is said to be the second-highest in the world. India is said to have the highest. A report by the World Health Organisation revealed that in 2020 alone, 540 women and children died per thousand in Nigeria, while the country accounted for 12 per cent of global maternal and neonatal deaths and stillbirths in the world.

Findings revealed that apart from the low access to proper healthcare, practices like this deprive women of the medical care that could have saved their lives.

Narrating his subjects’ ordeal, the community leader narrated, “Sometimes here in Sokoto, there was this housewife who was about to go into labour and her mother-in-law prevented her from visiting the hospital.

“We did all kinds of advocacy, but the woman refused to allow her go to the hospital. We later took the expectant mother to the hospital after being in labour for about three weeks. After her delivery, unfortunately she needed blood transfusion and the same woman placed a curse on her son if he donated blood to his wife.

“It took several interventions, and it was not until we told her that if she (the pregnant woman) died, she would be held responsible before she allowed her son to donate blood to the wife. We have so many stories related to this but the most important thing is to continue to create awareness to our people on the importance of education to our girl-child.”

On the religious beliefs attached to this, the community leader noted that ignorance and not religion was responsible for the belief that only a female doctor should attend to women in need of medical attention.

He stated, “It is unfortunate that some ignorant persons among our people link their actions to teachings of Islam, which is a lie. Allah never told us to deny our wives what can make them happy or well.

“The ultimate goal of religion is to save lives. Every aspect of human endeavour is there in the Holy Quran, even that of women, from delivery up to adulthood, and how they should be treated. You cannot deny women the right to quality health. It is there in the Holy Quran. People should ask what they don’t know.”

Atiku is planning to contest again in 2027. Politicians are heartless and selfish, gosh! The selfishness of Atiku and Obi put Nigeria in this mess today. $1 is 960.

Atiku and Obi made everything easy for APC. They are to blame, not their supporters.

The people who voted for Tinubu are a constant problem we have to keep dealing with even beyond 2027.

by Oluwatoyin Malik

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Top: The murdered teenager, Seyi Olayode and The suspect, Bidemi. Down: Mrs Oluwafemi Olayode and Mr Anthony Olayode


THE Monitoring Unit of the Oyo State Police Command has begun investigation to unravel the death of an 18-year-old girl, Seyi Olayode, whose decomposing remains were found in a bush at Olodo Community, Ibadan, Oyo State, nine days after she followed her brother, Bidemi, to get firewood but didn’t return home.

Nigerian Tribune learnt that on Sunday, July 23, on their return from church, Bidemi asked his sister, Seyi, to follow him to their farm to get firewood for cooking without their parents’ knowledge. Before then, their mother was said to have asked Bidemi to split the firewood they had at home into pieces for his younger siblings.

The parents reportedly got worried when they didn’t see their children returning home, making them to search nearby communities, to no avail.

To their surprise, Bidemi, aged 22, returned home without his sister at about 11pm same night, and when asked about the whereabouts of his sister, he reportedly told them that she would still come home, narrating an event that led to his sister missing.

According to the suspect’s father, Mr Anthony Olayode, his son told him of how he and his sister were abducted by four men on their way to farm, with him released at night while his sister was with the abductors.

Narrating how they came in contact with the abductors, he told his father that about 12.30 pm, on their way to the farm, he and his sister saw a silver Lexus vehicle, from which the four men emerged, asking for direction to Olodo community where they wanted to go to get firewood.

According to Bidemi, the men suddenly grabbed him and his sister and dragged them inside the vehicle. He said that they were blindfolded with their hands tied to their backs.

He explained further that they were taken inside the bush but at night, he was brought back without his sister to the spot where they were initially picked.

The case of a missing child, according to a credible source, was reported at Sanyo police station the following day, July 24, but the father, Mr Anthony Olayode, a Republic of Benin citizen living at Alapa community, did not allow his son to be held back in the police station and interrogated, saying that he would be with him at home and brought to the station whenever additional information was needed from him.

At a point, the father, who had become so worried about his missing daughter, reportedly consulted a diviner from his home country and was told that the matter involved someone sharing the same blood with the missing girl.

This, according to the father, prompted him to put an object on the floor and asked his son to stand on it. Trembling, the son was said to have confessed that the abductors asked him to strangulate his sister until she died before returning him to the spot where he was initially abducted.

“They pointed a gun at my head and asked me to strangulate my sister. After it was done, they said we should all hide in an uncompleted building. We were there till night before leaving for the spot where they dropped me,” Bidemi related to his father. He said that he was warned not to disclose any information to anyone or else he would die.

The father said: “I assured him that he would not die, but he did not tell me the spot where she was killed.” It was learnt that Bidemi refused to mention the four people that he said picked him and his sister.

His mother, Mrs Oluwafemi Olayode, in an interview, said: “I was not at home on that Sunday. I went to the church. There was heavy rain and I also wanted to go to the market. I told the children to cook and eat. When I returned home at about 6:30pm, I was told they had yet to return since they left to get firewood.

“We started combing the bushes around us but couldn’t find them. At about 11pm, Bidemi came back home. I was happy seeing him and asked of his sister. He told me she would come home; that she was with the four people who abducted the two of them. Since then, we did not see Seyi until her decomposing remains were found in Olodo bush.

According to the distraught mother, “at that time, I was going to churches to get revelation on where my daughter was. I asked Bidemi and he assured me that she would return. Bidemi later told us that he was given something to drink and warned not to reveal what they were going to do to anyone or else they would trail and kill him. He didn’t reveal their identities, he said that one of them had dreadlocks. He said when he was told to strangle his sister, he spoke in Cotonou’s language that she should pretend as if she was dead. But the abductors, after shaking his sister’s body, put a gun in his ear, asking him in anger why he pretended to have killed her.


“When he was taken to Amotekun, he told them that the abductors raped his sister in his presence and afterwards told him to do same which he rejected because of filial relationship. It was after that he said a gun was pointed at him as they ordered him to strangle his sister.”

The mother said she was still amazed about the happening because he had never brought a friend to our house. “I’ve never seen him with any friend,” she stated.

The revelation that made Mr Olayode to take his son to Amotekun office in Oluyole where he was detained to get words out of him also got him confessing to belonging to a cult and being a hemp smoker.

Meanwhile, the family started searching for the teenager’s body in the bushes around adjoining villages. One of the family members who went for the search with others on Tuesday, August 1, said: “We found an unoccupied building and passed by it. On getting to a spot in the bush at Olodo axis, we noticed sticks put across a pathway as if it had not been in use for a long time. The sticks were removed and we went through the pathway. Shortly after, we saw buzzing flies which made us to suspect that something must have attracted the flies. We moved on and perceived very foul odour. We went nearer and noticed leaves on a mound.

“We left the spot because of the fear that the perpetrators might be lurking somewhere. We asked one of us with a motorcycle to go back and bring the father. When he got to the spot, the father removed the leaves covering the mound and saw that the decomposing body was his daughter’s. We noticed that one of her breasts had been cut off and hair scraped clean from a side of her head. Her hands were tied behind her and maggots covered the decomposing body.”

Some family members also said that they were suspecting that probably, Bidemi, forcefully had sexual interaction with his sister but didn’t want to be reported to the family, hence his decision to strangulate her.

On Wednesday, it was learnt that the police from Sanyo Division, led by the Divisional Police Officer; Oluyole Security Surveillance Team (OSST), led by its commandant, Olusegun Idowu; and vigilante group members were also at site where the body of the deceased was.

From Amotekun’s Oluyole office, Nigerian Tribune learnt that the suspected teenager was transferred to the head office at Moniya, from where the case and the suspect were handed over to the Monitoring Unit of the state police command to carry out in-depth investigation to unravel the mystery behind the murder of the teenager.

The Central Bank of Nigeria has released the Consolidated Financial Statements for the last seven years, making it the first time since 2015 that the apex bank will be making its book available for public scrutiny.

The Consolidated Financial Statements, which were released by the CBN, are for 2016, 2017, 2018, 2019, 2020, 2021 and 2022 financial periods.

The CBN declared a profit after tax of N103.8bn in 2022, up from N75.13bn reported a year earlier.

Also, the CBN owes JP Morgan and Goldman Sachs a combined sum of $7.5bn as of the financial year ended December 2022.

Included as part of its liabilities is another $6.3bn owned in foreign currency forwards.

The apex bank, however, stated it owes Goldman Sachs $500 million and JP Morgan $7 billion in what it classified as securities lending.

The 2022 financial statement read, “The Group entered into a securities lending agreement with Goldman Sachs and J. P. Morgan and as part of the agreement, the Group pledged its holdings on foreign securities in return for cash. The cash received from Goldman Sachs is N0.23tn ($500m), 2021: N0.22tn ($500m), and JP Morgan N3.23tn ($7bn), 2021: N3.05tn ($7bn) is recognised in other foreign securities.”

Securities lending forms part of the CBN’s total external reserves of about N14.3tn or $29bn using the official exchange rate of N494/$1 as of 2022.

However, the apex bank also owes another N3.15tn ($6.3bn) in foreign currency forward which are forex obligations it needs to make to foreign investors.

The financial statements uploaded on the CBN website is an indication that the apex bank, under the leadership of acting Governor Folashodun Shonubi, is ready to open its book to public scrutiny.

The suspended CBN Governor, Mr Godwin Emefiele, had come under attack for not releasing the financial statements to the public.

The action of Emefiele is in gross violation of the CBN Act.

Since 2005 when it started publishing details of its annual report on its website, the CBN never failed to publish the report until 2016, when it stopped the publication of the crucial documents.

According to the CBN Act 2007, the apex bank is expected to publish its report within two months after the end of each financial year.

“The Bank shall, within two months after the close of each financial year, transmit to the National Assembly and the President a copy of its annual accounts certified by the Auditor.

“A report required to be submitted to the National Assembly and the President shall be published by the Bank in such a manner as the Governor may direct

“The Board shall ensure that accounts submitted pursuant to this section shall as soon as possible be published in the Gazette.

“The Bank shall as soon as may be practicable after the last day of each month makeup end publish a return of its assets and liabilities as at the close of business on that day, or if that day is a holiday, as at the close of business on the last preceding business day,” the Act reads.

Analysts are of the view that the failure of the CBN to publish the report could send wrong signals to investors and others interested in understanding the state of the economy.

President Bola Tinubu had appointed Jim Obazee as a Special Investigator to probe the activities of the CBN and other related entities.

In a letter dated July 28, Tinubu said the appointment of Obazee, relying on the fundamental objective set forth in Section 15(5) of the Nigerian constitution, was in furtherance of his administration’s anti-corruption fight.

The appointment is with immediate effect, and Obazee is to report directly to the President.

According to the letter signed by the President, the full terms of Obazee’s engagement as a special investigator will be communicated to him in due course.

The President had directed Obazee to investigate the CBN and related entities using a suitably experienced, competent and capable team and to work with relevant security and anti-corruption agencies to deliver on the assignment.

By Aliyu Jalal


Former Militant leader and founder of the Niger Delta Peoples Volunteer Force, Asari Dokubo has said that he has the manpower to defeat the military junta in Niger Republic.

Dokubo said his armed group could overrun Niger Republic if commissioned by the federal government.

In a viral video, Dokubo said he and his boys have the capacity to restore democracy in Niger.

He said, “If the government commissions me and my people to go to Niger Republic, we will go. We will defeat them and we will come back victorious. It is not a boast.

“If Benin Republic likes, let them go and bring anybody, they are human beings like us. We will go there, defeat them and restore democratic order.”

Negotiations and reconciliation efforts are still ongoing between the Niger junta and African leaders.

On Wednesday, Alhaji Muhammadu Sanusi, 14th Emir of Kano, met with the coup leaders in Niger Republic.

The former governor of the Central Bank of Nigeria (CBN) met the military leadership after the junta had aborted meetings with representatives of African Union (AU), Economic Community of West Africa States (ECOWAS) and a top US diplomat.

Sources told Daily Trust that Sanusi went there to open the door for negotiation with the junta, after which he went to the Villa in Abuja to brief President Bola Ahmed Tinubu.

National Union of Road Transport Workers (NURTW) yesterday raised the alarm over alleged plot by some persons and groups to stage a protest at the national secretariat of the union in Garki 2, Abuja.

The union disclosed this in a statement issued by the president, Alhaji Tajudeen Ibikunle Baruwa in Abuja.

He described the planned protest as a campaign of calumny against the leadership of the union aimed at causing confusion and foment trouble.

He said those sponsoring the protest are not members of the union but from Lagos, Osun and Ondo States Park Management Committees.

Baruwa said their plan is to infiltrate their ranks by wearing the union uniform and disguise as members to perpetrate their nefarious activities and attack the secretariat.

He said, “We have it on good authority that some disgruntled and unscrupulous elements have perfected a plan to mobilise some thugs and hoodlums from Lagos who are to put uniform of the Union as disguise to invade and stage a protest at our National Secretariat here in Abuja.

“I want to tell you that these people are not our members, they just want to cause violence in the Federal Capital Territory (FCT), we are using this medium to call on the security agencies to rise up to the occasion and prevent the breakdown of law and order.”

Baruwa called on the plotters to desist forthwith just as he called on all the security agencies to rise up to the occasion and prevent possible breakdown of law and order in the city.

He said the union has remained peaceful over the years without any rancour but wondered how some people would just wake up to cause violence and puncture the serene atmosphere in the nation’s capital.

The Independent Petroleum Marketers Association of Nigeria said the price of Premium Motor Spirit, popularly known as fuel would continue to increase as long as the US Dollar rose in the foreign exchange market.

Chinedu Okoronkwo, the National President of IPMAN, disclosed this to DAILY POST exclusively while reacting to speculation of further fuel pump hikes.

The IPMAN’s boss noted that fuel price will keep soaring if the dollar keeps rising in the forex market.

He said: “Nigerians should understand that with fuel subsidy removal, the government is no longer determining pump prices but the market forces. The product is bought in dollars. The dollar is around 890/$1 now. As the dollar climbs, fuel pump prices will continue to go up.

As a solution, he urged the government to double up efforts to make Compressed Natural Gas available for Nigerians.

“Government should make conscious efforts towards making CNG available for Nigerians”, he stated.

Naira dropped further to the dollar, exchanged at N782.38/$1 on Wednesday at the official market. But, at the parallel market dollar is enchanted at 910/$1.

Consequently, the pump price of the product is expected to exceed N617/per litre.

DAILY POST recalls that three weeks ago, fuel marketers increased the fuel pump price from N539/per litre to over N600/per litre.

Taiwo Oyedele, Chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, has recommended that the Value Added Tax on Automotive Gas Oil, better known as diesel, be suspended.

According to Oyedele, the VAT suspension will soften the economic impact of President Bola Tinubu’s decision to remove fuel subsidies.

Oyedele stated this on Channels Television’s Sunrise Daily programme on Wednesday, 9th October 2023.

He said, “What the President wants us to do is that within the first 30 days, there are those low-hanging fruits that people have generally agreed that this is a problem, but nobody has done anything about it.

“Personally, for example, this is not promising that it would be done, but I think that we should suspend VAT on diesel because we removed fuel subsidy on petrol and prices are going up.”

Oyedele went further to say that the nation’s fiscal governance encompasses concerns ranging from the debt ceiling to the deficit-to-GDP ratio (as specified in the Fiscal Responsibility Act), revenue generation reporting, and spending quality.

Oyedele stated that many persons in the tax net, particularly the middle and upper classes, are not in compliance with tax legislation, adding that “some of them are in the tax net with one or two fingers.” In reality, our aim is to abolish many of the taxes that currently make doing business difficult while collecting more.”

He advised that, for the nation’s economy to benefit from revenue generation, the collection of revenue should be assigned primarily to the Federal Inland Revenue Service, while reducing the revenue generation burden on the Federal Government’s Ministries, Departments, and Agencies.

A Lagos-based cleric, Alhaji Afeez Imoleayo, has been arrested for allegedly charming his US-based friend and stealing N105 million from him after taking over the victim’s wife and children.

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Assistant Inspector-General of Police, Zone-2, Mr Ali Mohammed, paraded the suspect alongside five other accomplices identified as Ramon Uthman, Saidi Ajayi, Alhaja Monsurat Salami and Kikelomo.

The AIG said the cleric also charmed his friend’s wife and three children and took them over as his own.

Mohammed said aside from the money and the friend’s family, the cleric and his wife also took over five vehicles and landed property belonging to the U.S.-based friend.

He told newsmen that that the suspect confessed using spiritual means to take over his friend’s family, more than N105 million and several landed properties in Lagos.

He said the cleric admitted to have bewitched the friend into changing his children’s names and land documents into his.

According to Mohammed, a complaint was lodged by the Nigerian identified as Animashaun, with the police on July 17, 2023, leading to the arrest of the cleric and his wife.

He added that other accomplices of the cleric and his wife were currently at large, but that five persons had been arrested over the crime.

He said also that one white Toyota Venza 2009 model, one Ashok Leyland Bus and various landed properties had been recovered from the suspects.

“The suspect abducted the petitioner’s wife and children for more than 10 years; subsequently changed their names to his through the help of his wife.

“He converted all the petitioner’s properties to his own, claiming that God directed him to do so.

“It was God that opened the petitioner’s eyes 10 years after when he realised what he was doing and returned to Nigeria to file his petition,’’ Mohammed said.

He added that the cleric’s wife confessed to the alteration of the birth documents of the complainant’s children to bear the cleric’s name.

He said that the cleric’s wife also admitted to have received more than 17,000 dollars (about to N11.8 million) from the complainant.

“Investigation showed that the suspect met the complainant at a religious place in Lagos after which they became friends.

“The complainant is based in the U.S.A and became close to the suspect about 16 years ago. While they were friends the complainant started to send the suspect money to execute a project.

“Instead, the suspect converted the complainant’s entire savings amounting to more than N105 million to his own,’’ Mohammed said.

The Independent Corrupt Practices and other related offences Commission is investigating allegations of corruption and abuse of office against immediate-past Attorney-General of the Federation and Minister of Justice, Abubakar Malami.

This was revealed in a memo dated July 19, 2023, signed by the Petition Registrar, ICPC, H.S. Folaranmi, on behalf of the ICPC Chairman, Prof Bolaji Owasanoye

The memo was in response to a petition filed by the Human and Environmental Development Agenda, accusing the former AGF of corruption and high-handedness.

“I am directed to acknowledge the receipt of your petition on the above subject and to inform you that necessary action is being taken on the matter,” the memo read.

HEDA, writing the ICPC through its Chairman, Olanrewaju Suraju, in its July 10, 2023 petition sighted by our correspondence, had said, referenced a number of allegations against Malami.

It said, “Below are but a few of several corruption allegations against Mr. Abubakar Malami: On the 2nd day of May 2022, it was widely reported by various news outlets that the Attorney-General of the Federation and Minister of Justice; Abubakar Malami SAN distributed 30 car gifts worth over N1,000,000,000 to his supporters in Kebbi State.

“The car gifts included 14 Mercedes Benz, eight Prado SUVs, four Toyota Hilux and four Lexus LX. Beneficiaries of the car gifts, as reported by PremiumTimes, were social media influencers, executive members of Mr Malami’s foundation and women support groups.

“Two, illegal auctioning of sea vessels holding crude oil seized by the Federal Government, violating Section 31(2) and (4) of the EFCC Act 2004 and assuming the role conferred on the Economic and Financial Crimes Commission as reported by TheCable Newspaper on the 13th July, 2020. The AGF also authorised the sale of these vessels by companies under EFCC prosecution for similar offence of illegal bunkering and this action was admitted by the AGF through his Media Assistant pleading presumption of innocence on the part of the accused, in a case being prosecuted by the Federal Government through the EFCC.”

The group also referenced “alleged duplicity of payment of $16.9m fees to two friends as new lawyers for the recovery of the loot traced to a former Nigerian Head of State, Sani Abacha, after a Swiss lawyer, Enrico Monfrini, hired and fully paid by the previous government, to help in the recovery had completed his brief as reported by PremiumTimes on the 10th of April, 2018.”