ABUJA— INDICATIONS emerged on Wednesday that President Bola Tinubu is not happy over the delay in constituting the new Minimum wage committee.

The current minimum wage of N30,000 is expiring by March and it is expected that a new living wage would be in place first week of April.

Although President of the Nigeria Labour Congress, Comrade Joe Ajaero had recently told Vanguard that the labour has already constituted its committee to interface with the federal government team, the government is yet to constitute its team for the minimum wage review.

It was gathered that the Office of the Secretary to the Government of the Federation, SGF, is saddled with the responsibility of setting up the committee.

A presidency source told Vanguard that President Tinubu was not happy during the Federal Executive Council, FEC, meeting that the committee to review the minimum wage was not yet constituted

According to the source, “The President was fuming that up till now the new Minimum Wage Committee is not constituted. But I am sure within one week the committee will be in place.”

Asked on the possibility that the committee will meet up with the April take off date of a new Minimum wage, the source said within one week the committee will be empanelled.

“The government will meet up with the April date. Government is making every effort that there is a cordial relationship between the government and labour.”

Reminded that labour has accused the government of not keeping to its promises with labour, The source said that there will be a new cooperation and wth the labour and all the relevant stakeholders to ensure that all the parties are on the same page to make sure that they work for the general interest of the working class.

President Bola Tinubu has said the illegal miners who caused the explosion in Ibadan, Oyo State, must be brought to book.

Daily Trust reports that after the incident, Governor Seyi Makinde of Oyo blamed it on illegal miners who stored explosive devices in one of the buildings in the Bodija area of Ibadan.

In a statement on Wednesday, Ajuri Ngelale, Special Adviser to the President on Media and Publicity, quoted his principal as saying: “It is worrisome that the cause of the blast is being attributed to the activities of illegal miners. Those behind the inexcusable and reckless behaviour that has created the conditions for the sad incident to occur must be fished out and punished.”

Tinubu, while expressing sadness over the devastating explosion, commiserated with the government and people of Oyo State.

The president called on all concerned agencies of government to unravel the circumstances that led to the tragedy with alacrity.

President Tinubu directed the National Emergency Management Agency (NEMA) to work with the Oyo State Government to offer immediate and comprehensive relief to the victims.

A survivor of the explosion that rocked Ibadan, Oyo State capital, yesterday, has said it was foreigners, who engaged in illegal mining activities, that caused the explosion. He added that they ran out just before the blast.

The survivor, Alhaji Mohammed Musa, lived next to the epicentre (ground zero) of the explosion.

Though the official announcement of the casualty figure is yet to be made, Vanguard gathered that three people died in the explosion.


UK returnee dead

Meanwhile, it has been revealed that one of the deceased is a United Kingdom, UK, returnee.

A viral video credits one Honourable Ayode Jajaye as stating that the UK returnee is the son of one of the landlords in the Ibadan estate where the explosion occurred.

He said: “Look at the guy that just died. He just came from the UK about a week ago. He’s a son to a landlord in this estate.

“My conclusion is that the government should investigate this situation. The casualties are too much. Look at damages. We can’t just look away.

“There are so many collateral damages that have happened.”

At the scene of the explosion yesterday, a body was brought out of the rubble and put in a body bag.

Earlier, the Oyo State Government had announced that two people died in the unfortunate incident. Also, a survivor who was seriously injured was wheeled into a waiting ambulance.


How I survived — Mohammed

Speaking with Vanguard at the scene, Mohammed said he was rushed to the hospital and discharged this morning.

He said he escaped death by the whiskers because he offered to help his neighbor put out the fire that preceded the explosion.

Recall that his claim that foreign illegal miners caused the explosion was earlier voiced by Governor Seyi Makinde.

Narrating the events that preceded the explosion, Mohammed said: “Around 7 p.m. last night (Tuesday), I was going to pray.

“As I was standing to start the prayer, I noticed some fire burning in the next house. So, I stopped the prayer and quickly picked my fire extinguisher.

“I told my boys that the neighbor’s house is on fire, let’s go and help.

“I then came downstairs. One guy saw me and said the fire was beyond what an extinguisher can put out. I then picked my phone to call the fire brigade men.

“However, the next thing I heard was that blast. It threw me off the ground and landed me on the stairs. Part of the house had cracked. My boys advised that I should jump.

“Fire started just a metre away from that house and as of the time we came downstairs, there was no one on the premises.”


The foreigners

Also, speaking on the occupants of the house, he said: “The house where the fire started is occupied by a Senagalese or Namibian and they engage in mining activities.

“Definitely, they had explosives inside the building. The explosion was as a result of the explosives kept in the building.

“The foreigners have been living in here since 2013. They go in the morning and come back in the evening. I wouldn’t know if their immediate neighbour knows they are into mining.”

“The foreigners ran out before the explosion.”

Furthermore, he clarified that immediately after the foreigners saw the raging fire, they knew the implications because of what they kept inside.

Mohammed said: “They, including their children, ran out of the house and they didn’t alert us so that we could run away too.

“They knew the implications when they saw the fire. So they ran out without alerting us. Thank God I came down trying to help put out the fire. I would have been dead by now.

“The whole house would have collapsed on me. I wanted to save the house of my neighbor from being burnt. That’s what saved me. If anyone had been in the house, the person would have gone.”

Asked if he knew his neighbors were illegal miners he said: “We have them all over. They are also at Orogun. That’s their trade and that’s what they came to Nigeria to do. And explosives are part of the things they use in blasting. Definitely, they had kept them in the house.”


Explosion caused by illegal miners — Governor Makinde

The Oyo State Governor, Seyi Makinde, also attributed the explosion to explosive devices stored by illegal miners.

He added that two persons died in the explosion, which occurred at about 7:44 p.m. on January 16. He added that about 77 persons were injured.

Recall that at about 7.44 pm, Tuesday, January 16, a loud explosion was heard in different parts of the state capital leading to panic and confusion.

In a press release shared on his verified X page on Wednesday morning, Makinde explained that the preliminary investigations revealed that illegal miners stored explosive devices in one of the houses in Bodija.

He said: “We visited the scene of the explosion in Bodija, Ibadan. This unfortunate incident resulted in death and injury to residents in the vicinity and also affected properties.

“We have already deployed first responders and all relevant agencies within Oyo State to carry out comprehensive search and rescue operations. These operations will continue throughout the night.

“Earth-moving equipment, ambulances, emergency lights, and security were deployed to the scene of the incident.


Welfare

“The wounded and injured are being treated and moved to public and private hospitals within Ibadan. Medical personnel are on standby at these hospitals to provide all needed assistance to the injured. We have visited UCH to see some of those injured during the incident.

“In total, we have 77 injured victims so far, most of whom were treated and discharged and two fatalities. May their souls rest in peace and may God give their loved ones the fortitude to bear this irreparable loss.”

“I have directed that the medical bills of all victims be covered by the government. We will also be providing temporary accommodation for those whose houses were affected.

“I urge all residents to please call 615 for any emergencies they may be experiencing at this time. They should remain calm and stay away from the immediate scene of the incident.”


… sets up emergency situation room

A statement by the Chief Press Secretary to Governor Makinde, Mr Suleiman Olanrewaju, he noted that “the State Government has set up an Emergency Situation Room for the Bodija incident led by Professor Temitope Alonge.

“Search and rescue efforts at the site of the incident continued overnight. Updates from the Emergency Situation Room will be publicised through official government accounts and media channels.

“The contact numbers for the Situation Room are 07049948057 and 08147672009.

“Residents are advised to stay away from the site of the incident and call 615 free of charge for emergencies in Oyo State.”


Bola Ige’s residence affected

Meanwhile, the residence of the late Attorney-General and Minister of Justice, Chief Bola Ige, was also affected by the Ibadan explosion.

His son, Architect Muyiwa Bola Ige spoke with Vanguard.

He said: “We thank God for life and for those who survived the unfortunate incident. The effect is that lives were lost.

“It affected my house we are just a few metres away from the epicenter and the gravity led to the damages we have here. We thank no life is lost here. The blast shattered the windows and roofs.

“Structurally, the building is intact. I have gone around to do the analysis.

“Yes, we are hearing that the explosion was caused by some illegal miners. That would be grossly unfortunate that someone could keep such dangerous things in the residential area. I have spoken to the leadership of this residents’ association to find out who the persons are.

“Do they have the inclination of what their activities are? We should not jump the gun. But it is evident because there is a crater at the epicenter. It’s unacceptable.

“Glasses were blown out, roof surfaces caved in. If they knew what they had and they kept it in a residential area, then they are suicidal.

“We must identify who they are. If they are still alive. And some people have died based on the consequences of what they had done, they should be brought to book.”

He said he had to rush back home when a friend told him about the explosion. He noted that he came to rescue the grandchildren of someone close to him.

Meanwhile, there were fears that some unexploded bombs could still be at the place. Security officers were warning thousands of people at the scene to move away as staying there could be risky.


Schools shut down

Two private schools in the area were shut. Barakat and the Educational Advancement Centre were locked. Their students came to resume only to be sent back home by their teachers.

When Vanguard got to the scene, there was gridlock as a result of the large crowds trooping to the scene of the explosion.

Also, security agents had a hectic time controlling the crowd that was bent on having a glimpse of the scene.

At the spot, rescue teams were working seriously in search victims under the rubble.

Meanwhile, Vanguard was reliably informed that several children of a popular school that is located at Idi Ishin were injured and taken to the hospital. They used the building opposite the epicenter as hostels.

The Deputy Governor of the state, Bayo Lawa, and Senator Sarafadeen Alli, representing Oyo South senatorial districts were early callers at the scene.

The Commissioner of Police in Oyo State, Mr Adebola Hamzat; soldiers; Red Cross; Nigerian Security and Civil Defence Corps, NSCDC; Department of State Services, DSS; fire brigade men, bomb detectors, National Emergency Agency, NEMA, were all on ground.

happney65:


Have you confirmed it's Gas?

Former President Muhammadu Buhari has apologised for the tough decisions taken during his tenure while affirming his unwavering belief in the nation’s future.

The apology was contained in his address at the unveiling of books chronicling his presidency, one which was written by his former media aide, Femi Adesina.

The event, held at the Transcorp Hilton Hotel in Abuja on Tuesday, witnessed the launch of two significant publications: “Working with Buhari: Reflections of a Special Adviser on Media and Publicity, 2015 – 2023” and “Muhammadu Buhari: The Nigerian Legacy (2015 – 2023).”

Buhari, speaking at his first public appearance since leaving office on May 29, 2023, expressed deep gratitude to those who supported him during his presidency, including current President Asiwaju Bola Tinubu.

In a reflection of his time in office, Buhari highlighted the challenges and the tough choices faced by his administration.

Buhari acknowledged the sacrifices made by the Nigerian populace.

He extended an apology to those who felt the weight of the decisions, emphasising that they were never intended to cause pain or anguish.

He said, “with the cumulative achievements of government after government, I believe we will get there in no distant time.

“In our journey to the desired destination, there will be hard decisions taken, and the people would bear some costs. We can only seek their understanding, and state that there was no intention to deliberately inflict pain and anguish on anyone.

“This is why I apologized to such people at the end of our time in office. Sacrifices are still being made now, and will continue to be part of our national life and development.

“Governments will continually seek the understanding and support of the people they lead, for our ultimate good and goal.”

Buhari emphasised the importance of the publications in preserving the history of his administration.

“These books exemplify the sanctity of records, documenting the facts and figures, achievements and milestones of our nation,” he said.

In a conversation with Femi Adesina, his former Media Adviser and the author of one of the books, Buhari noted the significance of such documentation in providing a comprehensive account of their stewardship to the country.

He expressed similar sentiments about the contributions of Dr. Udu Yakubu and his colleagues.

“Without documentation, revisionism wins,” Buhari stated, emphasizing the importance of recorded history in countering attempts to distort or obliterate it.

He noted that his administration operated with transparency and accountability, always mindful of the judgment of posterity.

Reflecting on the nature of governance, Buhari described it as a continuum, akin to a relay race.

“You run your course, and hand over the baton to the next person,” he explained.

He expressed his support and confidence in President Tinubu’s administration and their shared vision for Nigeria.

The former president concluded his address by thanking General Yakubu Gowon, General I.B.M. Haruna, and Alhaji Muhammed Indimi for their support.

He reaffirmed his commitment to the ruling All Progressives Congress (APC) and expressed his faith in the strength, unity, and future of Nigeria.

Vice-President Kashima Shettima is currently in Davos, a town in Switzerland, for this year’s edition of the World Economic Forum (WEF) with a small company.

TheCable understands that the number two citizen travelled with only five aides – his security detail and director of protocol – to Davos.

Previously — before President Bola Tinubu announced the downsizing of entourgage — the figure would have been double.

A week ago, Tinubu cut down the size of his entourage, the vice-president, the first lady, and ministers.

The president directed that his own entourage be cut down to 20 people for international and local trips, while the vice-president is limited to five people for trips abroad and 15 within the country.


OUTRAGE OVER NIGERIA’S COP28 DELEGATION

The decision to cut down the entourage for public officers holders came about a month after there was outrage over Nigeria’s delegation to COP28 climate change conference in Dubai, United Arab Emirates (UAE).

Nigeria had the largest delegation in Africa after having a record number of 1,411. Nigeria and China with the same figure, had the third largest number of delegates after UAE and Brazil.

Gilbert Chagoury, a Lebanese-Nigerian businessman, was among the delegation and was listed as Tinubu’s “confidante”.

However, Mohammed Idris, minister of information and national orientation, says only 422 people out of the record 1,411-member delegation from Nigeria were sponsored by the federal government.


CONFLICTS, CLIMATE CHANGE, AI TO TOP WORLD DISCOURSE AT WEF

This year’s WEF meeting will focus on conflicts, climate change, artificial intelligence (AI) among other issues.

Over 70 heads of state and government will be holding public and private speaking events at Davos.

Stanley Nkwocha, media aide to the vice-president, announced that his principal will be at the launch of the Private Sector Action Plan for African Continental Free Trade Area (AfCTA).

Nwocha said Shettima would also chair a roundtable dialogue on Nigeria’s economic path and attend a special session dedicated to building trust in the global energy transition programme.

The curtains on this year’s WEF will close on Friday.

Following announcement that the Dangote refinery had commenced production, investors have rushed to Nigerian Exchange to purchase stocks by Dangote Group which saw an appreciation of N514 billion.

Subsequently, three subsidiaries of Dangote Group listed on the Nigerian Exchange Limited (NGX) saw their combined market capitalisation rise by N513.69 billion on Monday, following production announcement by the Dangote refinery.

Recall that last Friday, a video surfaced on social media showing the 650,000-barrels-per-day refinery coming to life with subsequent announcement on Saturday that the refinery had commenced production

Speaking on the development, Aliko Dangote, president/chief executive of Dangote Group, described it as “a game changer” and “an important achievement for our country as it demonstrates our ability to develop and deliver large capital projects”.

The statement answered the curiosity by Nigerians on when it will be in the market, adding that it will be in Nigeria’s oil market before the end of January once it receives regulatory approval.

It said the refinery had so far received six million barrels of crude oil at its two single point moorings located 25 kilometres from the shore. The first crude delivery was done on December 12, 2023, and the sixth cargo was delivered on January 8, 2024, it added.

“The refinery can load 2,900 trucks a day at its truck-loading gantries, and the products will conform to Euro V specifications. The refinery design complies with the World Bank, US EPA, European emission norms, and the country’s oil regulator’s emission/effluent norms, employing state-of-the-art technology,” the statement further explained.

Checks by the Nigerian Tribune has revealed that no single Nigerian shipping company participated in the six crude oil delivery process that took place at the $19.5bn Dangote Petro-chemicals Refinery located in Lagos. This is even as further findings revealed that Nigeria lost out due to the very large sizes of ships used in the delivery of crude oil products to the Dangote Refinery.

Speaking with the Nigerian Tribune in an exclusive interview at the weekend, the President of the Nigerian Chamber of Shipping (NCS), Mallam Aminu Umar explained that six different ships loaded crude products to the Dangote Refinery, with none owned or operating from Nigeria.

According to Mallam Aminu Umar, “There were two deliveries at the Dangote Refinery; the first was the test-running stage where Gas oil was brought in to flush and power the system; while the second stage was the Crude oil delivery stage where Crude oil products were brought in.

“My shipping company was one of the two companies that delivered the Gas oil that was used to flush and power the system at the Dangote Refinery. The Gas oil that we supplied was used in test-running and flushing the system at the Dangote Refinery. Our company was the only local shipping firm that participated in this process while the second company was an internationally owned shipping company.

“After the system was flushed, the refinery took delivery of six Crude oil products, but no Nigerian company participated in that stage. This is because currently, Nigeria does not have the kind of ships that were used to bring in Crude oil products to the Dangote Refinery.

“Six shipping companies brought in Crude oil products to the Dangote Refinery, and only one of them was from an African country; Angola to be precise. The other five were foreign shipping companies from outside Africa. No Nigerian currently has the size of vessels that were used to move Crude oil products to the Dangote Refinery. I am talking of vessels called Suez Max.

“A Suez Max is a type of vessel that can load a million barrel of Crude oil products which is equivalent to 150,000 deadweight vessels. As at today, there is no Nigerian that has a 150,000-deadweight vessel trading in crude oil.

“We were the only indigenous shipping company that participated in the first stage while there was no Nigerian company that participated in the second stage.”

On expectations of indigenous participation in the evacuation of Crude oil products out of the Dangote Refinery, the NCS President expressed optimism that more local players should get involved when the Diesel and Aviation products being produced needs to be shipped out.

“Now that the refinery has started processing Crude oil products and Diesel alongside Aviation Fuel, products are expected to be ready anytime soon. We at the Chamber of Shipping expects more indigenous ship-owners and investors to get involved in the evacuation of these products out of the Dangote Refinery.

“We are very excited that this is happening at this time in Nigeria. We congratulate Alhaji Aliko Dangote for making this a reality. On the next stage of operations which will include the logistic chain of how crude oil products will be shipped out of the refinery, we expect local investors to be more involved.

“Nigerian ship owners should be very excited because this will open-up a lot of opportunities for local investors to invest and participate in. indigenous ship-owners should look forward to participating in the evacuation of finished products from the refinery.” The Chamber of Shipping President told the Nigerian Tribune exclusively in Lagos.

Recall that the $19.5bn Dangote Refinery took delivery of its sixth batch of one million Agbami barrels of crude oil products supplied by the Nigeria National Petroleum Corporation Limited (NNPCL) last Monday, to complete the scheduled six million barrels consignment delivered to the Lekki based refinery needed to commence operations.

Nigeria is making headway in finding customers for its January cargoes, with 10 to 12 cargoes left, out of an estimated 20 earlier in the week, a trader has told Reuters.
This is coming as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that Nigeria is poised to receive substantial support in its endeavour to mitigate methane emissions originating from the oil and gas sector.

However, at this stage of the trading cycle, this is still a considerable overhang, given the fact that there are February-loading cargoes also still on offer, while the country’s March programme is expected in the coming weeks, the report said.

Premiums for Nigerian crude oil have begun to fall, as competition from Saudi Arabia heats up.
Offers for the grade Qua Iboe are in the range of dated Brent plus $1.5 a barrel for January loading, while the same grade is being offered at dated Brent plus $1 a barrel for February loading, another trader added.

Also, the report added that only about 10 cargoes of Angola’s February-loading cargoes are left, out of the 32 scheduled for loading, a trader said earlier this week. Angola’s March programme is expected to emerge next week.

Also, a new report by Deloitte has projected that energy trends estimate global oil prices will be stuck at low levels for the next couple of years.

The analysis predicts an average West Texas Intermediate (WTI) price — typically regarded as the benchmark for crude oil — of $72 US per barrel this year.

That depression in price is because of cuts from major producers, record production in the United States and slowing growth in demand, according to the report.
Oil prices are at their lowest in two years, with prices hovering around 2021 levels.

“We do have a lot of production out there, and money spent by energy companies in 2023 is bringing lots of volumes out there, and maybe we’re a little bit more resource and supply-heavy than we were last year,” said a partner at Deloitte, Andrew Botterill, who leads the energy and chemicals file.

The Organisation of the Petroleum Exporting Countries (OPEC) recently decided to cut 2.2 million barrels a day in the first quarter of 2024.

Demand is forecast to increase by about 1 million barrels per day in 2024, compared with 1.6 million last year, per analysis by the US Energy Information Administration.

“It’s the pendulum of this energy industry. When prices are high, money is spent. And then, of course, when those volumes come on, things will soften a little bit. So I think this is a little to be expected from where we were,” he stressed.

Deloitte forecasts the average WTI price will remain low through 2026 before rebounding slightly in the years leading up to 2030 — however, prices still aren’t expected to climb over $80 a barrel.

While lower oil prices may leave the province readjusting its budget, Botterill said consumers can do a version of the same exercise.

Meanwhile, the NUPRC has said that Nigeria is poised to receive substantial support in its endeavour to mitigate methane emissions originating from the oil and gas sector.

Stressing that this will be partly achieved through a collaboration between the country and the Climate and Clean Air Coalition, it stated that the partnership signifies a significant step towards addressing environmental challenges associated with the energy industry.

The industry regulator added that methane, a potent greenhouse gas, has been a growing concern globally, and the partnership was tailored to bolster Nigeria’s initiatives in curbing its impact on climate change.

“As a prime regulator in Nigeria’s oil and gas sector, the NUPRC is set to leverage the expertise and resources of the Climate and Clean Air Coalition.

“This collaboration that encompasses a multifaceted approach, including knowledge sharing, technological support, and joint research efforts, is aimed at devising effective methane mitigation strategies.

“The Climate and Clean Air Coalition, renowned for its dedication to air quality and climate-related initiatives, is bringing its wealth of experience to the partnership,” the NUPRC stated in a note.

The National Working Committee (NWC) of the ruling All Progressives Congress (APC) has said it is working towards the implementation of former Governor Nasir El-Rufai committee’s report on true federalism.

APC’s deputy national organising secretary, Nze Chidi Duru, disclosed this during an interactive session with newsmen at the weekend in Abuja.

Recall that the APC had set up a 23-man committee on true federalism, headed by Mallam Nasir El-Rufai, which submitted its report on January 14, 2018.

The committee recommended that power be devolved to states on issues, such as policing and resource control, among many others. But the report was not implemented by the administration of President Muhammadu Buhari.

Following this, a former national vice chairman (North West), Salihu Mohammed Lukman, had in a statement titled, ‘Rebuilding the APC to Reform Nigerian Politics: Task Before President Asiwaju Bola Ahmed Tinubu’, attributed the failure to implement the report to the “existence of weak structures of the party.”

He argued that the failure to implement the report had affected the party negatively.
But Duru disclosed that there were internal moves by the Dr Abdullahi Umar Ganduje-led NWC to ensure the implementation of the report.

Duru, a member of the NWC from Anambra State, said, “It has become an article in the APC and for APC; in the ideology and philosophy of the party on the basis of which the current administration campaigned. The issue of devolution of power and restructuring is clearly embedded in that report.

“As much as we are making the efforts internally to throw up that report to hold the government to account and to implement five points on the basis of which we campaigned to Nigerians, I will charge the fourth estate of the realm to throw it as a Bible and article of faith on the face of our leaders to ensure that, that part of the report is implemented.

“It is good for Nigeria, it will work for Nigerians and it will be best for Nigeria because what that would have achieved is that the overhead cost in governance will be substantially removed, a level-playing field both in business and politics will be enhanced and Nigerians in their area of influence will have sense of belonging.”

The Federal Government has said it would launch an investigation into private universities to show if they have in place prescribed facilities, adequate management structure, and adequate funding of programmes, among others.

The Minister of Education, Prof. Tahir Mammam took the decision in response to the recent media report by an undercover journalist who reportedly acquired a university degree certificate from Cotonou-based university in six weeks, and was also mobilised for National Youth Service Corps (NYSC).
LEADERSHIP however, observed that about 107 private Universities would be affected given that such institutions were established after 2009 and therefore, fall into the category in question.

The National Universities Commission (NUC), on its website indicated that Nigeria currently has a total of 147 private universities and 107 of them were established in the last 15 years.
However, in a twist of fate, only 40 private universities find themselves in the spotlight as they skillfully dodge the bullet of investigation.

The Universities are; African University of Science and Technology (2007), Achievers University, Owo (2007), Afe Babalola University, Ado Ekiti (2009), Ajayi Crowther University, Ibadan (2005), Al-Hikma University (2005), Al-Qalam University, Katsina (2005), American University of Nigeria , Yola (2003), Babcock University, Illisan-Remo (1999), Bells University of Technology, Otta (2005), Benson Idahosa University, Benin City (2002), Bingham University, New Karu (2005).
Others are; Bowen University, Iwo (2001), Caleb University, Lagos (2007), Carnitas University Enugu (2005), Covenant University, Ota (2002), Crawford University, Igbesa (2005), Crescent University (2005), Fountain University, Osogbo (2007), Godfrey Okoye University (2009), Igbinedion University, Okada (1999), Joseph Ayo Babalola University, Ikeji-Arakeyi (2006), Kwararafa Univery, Wukari (2005), Lead City University, Enugu (2005), Madonna University, Abuja (1999).

That’s notwithstanding, we have; Nile University, Abuja (2009), Novena University, Ogume (2005), Obong University, Obong Ntak (2007), Oduduwa University, Osun (2009), Pan-Athlantic University, Lagos (2002), Redeemer’s University, Ede (2005), Renaissance University, Enugu (2005), Rhema University, Akwa Ibom (2009), Paul University, Anambra (2009), Salem, Lokoja (2007), Tansian University, Umunya (2007), University of Mkar, Mkar (2005), Veritas, Abuja (2007), Wellspring University, Edo (2009), Wesley University, Ondo (2009) and Western Delta University (2007).

LEADERSHIP earlier reported how Mammam said the inter-ministerial committee set up to look into the activities of illegal universities would also examine “the veracity of the allegations of degree certificate racketeering within both foreign and local private universities in Nigeria.”
The ducation minister said the panel will also examine the procedures and processes for periodic accreditation of programmes in the universities by the NUC and examine their effectiveness in quality assurance of the programmes.

The panel will also, as part of its Terms of Reference, “review the role of any MDA or its officials (including identifying such officials) in the facilitation of the recognition and procurement of the fake certificate in question and examine the rules, procedures and processes for recognition and accreditation of foreign universities and programmes by the Federal Ministry of Education.”
Other terms of reference include to: “Establish if unapproved foreign institutions (degree mills) exist or not in Nigeria in whatever form with their identities and locations if any.
“Make other recommendations that will strengthen the system of recognitions, accreditations and quality assurance of degrees in Nigeria

“Examine the extant rules, procedures and processes for granting of provisional licences to new universities by the National Universities Commission.

Minister of the Federal Capital Territory (FCT), Nyesom Wike, has said wherever he goes, every Nigerian wants to take a picture with him.

In an event recently aired by Channels Television, Wike stated that he went to Lagos for an event hosted by the Chief of Staff to President Bola Tinubu, and immediately he entered the venue, “Every Nigerian wanted to snap with me. If I was collecting money every time this happened, do you know how much I will make?”

He stated that even his friend had to ask what was going on.

The FCT Minister added that this also happens in places like London where Nigerians always offer to help with his luggage.

“All of this tells me something, you must make impact on peoples lives. Whatever position you find yourself, just make impact.” he said.

The United Bank for Africa crossed the N1 trillion mark in market capitalisation at the close of trading on the Nigerian Exchange Limited on Monday.

UBA’s market cap stood at N1.022tn from N990bn on Friday, signalling a N32bn gain in one day, thus emerging the third most-capitalised bank in Nigeria, behind Zenith Bank and Guaranty Trust Holding Company Plc.

The shares of the financial institution were named as the highest-performing stock in the banking sector in 2023, which underscores the bank’s growth trajectory.

Between January 2023 and Monday, the price of UBA shares has appreciated by over 250 per cent from N7.60 per share to N29.90 per unit.

In a statement issued on Monday, the Chairman, UBA Group, Tony Elumelu, said that the bank’s remarkable journey in 2023 highlighted the bank’s strategic prowess and reflects its commitment to delivering unparalleled value to shareholders and stakeholders alike.

He said, “As UBA celebrates these significant milestones, we would like all our stakeholders to know that we remain steadfast in our mission to drive sustainable growth, foster innovation, and create value for its diverse clientele across Africa. We are witnessing the impact of the business transformation drive UBA embarked on years ago and executed well.

“Naturally, the market has taken note of and is duly rewarding our efforts. To our stakeholders, we promise that we will continue to work harder, deliver on what we know how to do well and create impacts across geographies where we currently operate.”

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, expressing delight at the bank’s performance in the past few months said, “Market participants have begun to appreciate the latent capacity in UBA’s business model as the bank unlocks enormous potentials in its pan African and international operations. Its unique competitive advantage lies in people, processes, and technology.

“With operations and offices in 24 countries and on four continents, UBA is the only African bank with deposit-taking license in the USA. The Bank’s fundamentals remain strong with impressive financial results that have continued to deliver sustainable value for its shareholders. At its current price, UBA trades at price-to-earning and price-to-book multiples of 2.27 and 0.59 which are a reflection of the market’s expectations of the Bank’s future growth potentials.”

In 2023, UBA’s Shareholders’ Fund grew from N992bn as of December 2022 to N1.8trn as of September 2023. UBA was also appointed as the Local Arranger and Local Depository Bank for the $3.3bn FX Liquidity support facility for Nigeria in partnership with the African Export and Import Bank.

By Deborah Tolu-Kolawole


Human Rights Lawyer, Femi Falana, on Sunday, urged the Minister of Humanitarian Affairs and Disaster Management, Betta Edu, to stop insulting Nigerians following her claims that the allegations of a N585 million fraud were baseless.

The embattled minister came under heavy criticism on Friday after a memo surfaced where she directed the Accountant-General of the Federation, Oluwatoyin Madein, to transfer N585 million to a private account owned by one Oniyelu Bridget, who the ministry claimed currently serves as the Project Accountant, Grants for Vulnerable Groups.

The instructions for the payment are contained in a leaked memo dated December 20, 2023.

The PUNCH reports that the Federal Ministry of Humanitarian Affairs and Poverty Alleviation said on Friday that the N585.18 million grant for vulnerable groups in four states was approved and followed the stipulated due process of government.

Speaking on the matter, which has since gone viral, the minister noted that the allegation is a mere fabrication by her detractors, who seek to frustrate her efforts in her fight against corruption and uplifting the needy.

But Falana in a statement on Sunday said that while the Minister has not denied that she approved the “payment of the over half a billion Naira to a private account in contravention of, the extant Public Service Rules as well as the Independent Corrupt Practices and Other Offences Act and the Penal Code applicable in the Federal Capital Territory,” she refused to, “apologise to the Federal Government and people of Nigeria and calling it quits for betraying the confidence reposed in her, the Minister has arrogantly said that the N585.18 million fraud allegation is a mere fabrication by her detractors and an alleged attempt by mischief makers to undermine her ministry’s effort in fighting corruption and uplifting the needy.”

Speaking further, Falana noted that though the Accountant-General of the Federation, Oluwatoyin Madein, has successfully frustrated the criminal diversion of the said sum of N585.18 million from the public treasury, it is crystal clear from the leaked memorandum of the Minister that the offence of an attempt to commit a felony has already been completed.

“There can be no legal justification for the criminal diversion of the said sum of N585.18 million for disbursement to vulnerable people in Akwa Ibom, Cross River, Lagos and Ogun States since the Ministry of Humanitarian Affairs has collated the individual bank accounts of all the vulnerable people

“Having regard to the facts and circumstances of this extremely embarrassing drama, we commend the Economic and Financial Crimes Commission for the recovery of the sum of N37 billion meant for vulnerable people in Nigeria.

“We also call on the Commission to speed up the ongoing investigation of the Ministry of Humanitarian Affairs with a view to charging all indicted persons before the High Court of the Federal Capital Territory as soon as possible,” the Falana said.

BY SAMUEL AKPAN


Betta Edu, minister of humanitarian affairs and poverty alleviation, approved funds for flight tickets and airport taxis for the ministry’s staff to Kogi — a state with no airport.

The approval is contained in a leaked internal memo dated November 6, 2023, and seen by TheCable.

The memo issued by the national programme manager, requesting the total sum of N72,374,500, was titled: ‘The Disbursement Under the 2023 Grant for Vulnerable Groups Programmes in Kogi State, 2023’, and was approved by the minister.

In the memo, the sum is appropriated for the minister’s “advanced team” to travel by air for an “event” in Kogi.

Each of the minister’s “advanced team” members, including aides, received the sum of N200,000 for flight tickets, N20,000 for airport taxi, and local running expenses and DTA depending on grade level — all amounting to N72,374,500.

The sum of N300,000 was earmarked for the minister’s air ticket.

However, Kogi has no airport to its name.

In November 2020, Yahaya Bello, Kogi governor, met with then-President Muhammadu Buhari at Aso Rock, seeking the establishment of an airport in the state.

Speaking with journalists after the meeting, Bello said he asked Buhari to ensure that Kogi got funds for the airport.

“I paid a visit to the president to brief him about the confluence state, the development and challenges we are facing and also to convey a message form the people of Kogi state that the social bond between the government and the governed is still very strong,” he said.


A WEEK OF CONTROVERSIES

The development is the latest in a series of controversies that have dogged the minister.

Edu has been under fire after a memo surfaced wherein she asked Oluwatoyin Madein, accountant-general of the federation, to transfer the sum of N585 million to a private account.

The instruction for the payment is contained in a leaked letter dated December 20, 2023.

In the letter signed by the minister and titled: “Mandate for Payment of Grant for Vulnerable Groups in Akwa Ibom, Cross River, Lagos and Ogun States Respectively”, Edu instructed the accountant-general to transfer the aforementioned sum to the UBA account of one Oniyelu Bridget Mojisola.

Some social media users have called for the probe of the minister and her ministry.

On Saturday, the Network for the Actualisation of Social Growth and Viable Development (NEFGAD), asked President Bola Tinubu to commence disciplinary proceedings against Edu, saying the minister’s action is a “serious procurement and fiscal malfeasance that attracts serious penalties”.

Amid the public outrage, Edu denied any wrongdoing.

The Nigeria Civil Aviation Authority (NCAA), has said it will not hesitate to sanction Egypt Air and NG Eagle Airline if they do not address the flight disruption, short- landed baggage experienced in the month of December, 2023.

In a terse meeting with the Egypt Air team led by the station manager, Dr. Nabil Fawzy in Abuja on Thursday, the director, Public Affairs and Consumer Protection, of the Nigeria Civil Aviation Authority (NCAA), Michael Achimugu warned that the Authority would not sit down and watch Nigerians suffer after paying so much to enjoy their flights.

Speaking on behalf of the acting director-general of the NCAA, Achimugu also insisted that all compensation for short-landed baggage which is $170 dollars must be paid to the passengers.

In a similar meeting with the management of NG Eagle Airline on the 3rd of January, 2024, the director said the NCAA would not hesitate to activate its regulatory action on the airline if it continues to treat its passengers with contempt.

He said it is unacceptable that the airline makes itself incommunicado when it experiences flight disruptions.

According to him, “The minister and the director general are not happy. I was at the airport for another business, I encountered a lot of aggrieved passengers. One thing I feel offended about is the fact that we know flight disruptions happen but when your airline experiences disruptions for whatever reason, your officers disappear. The passengers cannot even meet them for clarifications or support and even the Authority’s Consumer Protection Officers (CPOs) can’t reach your staff. Our CPOs are supposed to get the right briefing from you to be able to advise the passengers’ when they come to our office to complain.”

“For over one week, you had too many cases. This is unacceptable. You have left so much unattended to and we are not happy about it” he said.

He also told them not to further sell tickets until all the technical issues with the airline have been resolved, adding that the airline should have suspended ticket sales immediately if they had technical issues that would take time to resolve.

“If this continues, the hammer has to go down. Regulatory action will have to be taken,” he warned.

He also mandated airlines to always issue public statements on major disruptions of flight operations.

Responding, the accountable manager/managing director, NG Eagle, Capt. Kiddie Dare apologised for the lack of communication by the airline with the passengers and the NCAA.

He explained that they had some technical issues they were trying to resolve hence the several cancelled flights in one week.

Federal Civil Servants on Thursday night confirmed the receipt of their October 2023 wage awards months after a temporary suspension of payment.

Recall that the payment of N35,000 wage award was an agreement reached between the Federal Government and the Organized Labour as part of the moves to cushion the effects of the removal of subsidy on Premium Motor Spirit popularly known as petrol.

President Bola Tinubu had declared during his Independence Day speech that “low-grade workers” in the Federal Civil Service would be awarded a wage of N25,000.

The amount was then increased to N35,000 following discussions with the organised labour unions.

The government, in a memo signed by the Chairman, National Salaries Wages and Income Commission, Ekpo Nta, stated that the payment of the wage award would begin to take effect from September 1, 2023.

However, findings by our correspondent indicated that the government only paid the wage award for September.

Civil servants in Federal Ministries, Departments and Agencies had said they only received the wage awards for September 2023.

The unfortunate development came amidst reports that the government had slashed the wage award allocation by the sum of N100bn in the 2023 supplementary budget.

The Nigeria Labour Congress had described the government’s action as dishonorable, while the Trade Union Congress also urged the government to pay civil servants the wage awards or risk industrial action.

A senior civil servant who confided in Saturday PUNCH, however, said some civil servants had started receiving the wage award for October 2023.

“In my agency, we received the arrears for October 2023 and nothing else was paid again. The wage award for November and December was not paid; it (the one paid) is only for October 2023. Remember they owed us the sum of N105,000.”

The spokesperson for the Office of the Accountant General, Bawa Mokwa, however said all civil servants would receive their wage awards as soon as possible.

The private account belongs to Oniyelu Bridget Mojisola, identified as a project manager by the minister.

Dr Betta Edu, the Minister of Humanitarian Affairs and Poverty Alleviation asked the Accountant General of the Federation, Mrs Oluwatoyin Sakirat Madein to send public funds to a private account, according to a letter obtained by SaharaReporters.


The Minister and Letter sent for transfer


The private account belongs to Oniyelu Bridget Mojisola, identified as a project manager by the minister.

A letter from the minister with reference number: FMHAPA/HQ/OHM/S.208 to the Accountant General of the Federation, Mrs Madein dated December 20, 2023, asked that over N585 million should be sent to a private account.

The letter signed by the minister, Dr Edu, is titled ‘Mandate for Payment of Grant for Vulnerable Groups in Akwa Ibom, Cross River, Lagos and Ogun States Respectively’.

It reads, “I hereby approve the payment of the cumulative sum of five hundred and eighty-five million, one hundred and eighty-nine thousand, five hundred naira (N585,189,500.00). These are payments for programmes and activities of the Renewed Hope Grant for Vulnerable Groups.”

The details show that N219,429,750.00 was for 2023 Grant for Vulnerable Groups in Akwa Ibom State; N73,828,750.00 was for 2023 Grant for Vulnerable Groups in Cross River State; N219,462,250.00 was for 2023 Grant for Vulnerable Groups in Lagos State while N72,468,750.00 was for 2023 Grant for Vulnerable Groups in Ogun State.

The letter said the payment of N585,189,500.00 –the total sum – should be made to a UBA account: 2003682151 belonging to Oniyelu Bridget Mojisola.

“This payment should be made from the National Social Investment Officer account with account number: 0020208461037 to the Project Accountant’s details listed above,” it added.

Sources told SaharaReporters that a system that allows the Accountant General of the Federation to send public funds into private accounts based on requests by ministers encourages corruption.

“If a minister can ask the Accountant General of the Federation to move public funds into a private account and the AGF will do it, then it is no wonder the last AGF stole plenty of money,” a source said.

The Economic and Financial Crimes Commission (EFCC) is prosecuting former Accountant-General of the Federation, Ahmed Idris and Geoffrey Akindele alongside Mohammed Usman and Gezawa Commodity Market & Exchange Limited on charges of fraudulent diversion of public funds to the tune of N109.5 million.

Idris and Akindele were accused of committing criminal breach of trust while being entrusted with certain property, to wit N84,390,000,000 between February and November 2021 by “dishonestly receiving the said amount from the Federal Government through Godfrey Olusegun Akindele, trading under the name and style of Olusegun Akindele & Co”.

As a public servant, Idris was also accused of collecting an equivalent of N15.1 million from Akindele between February and December 2021 to accelerate the payment of 13 per cent derivation to nine oil-rich states in the country through the Office of the AGF.

Earlier, SaharaReporters reported that it exclusively obtained documents showing how the ruling All Progressives Congress (APC) moved N226,188,500 million to Kogi, Bayelsa and Imo states through the Ministry of Humanitarian Affairs and Poverty Alleviation ahead of the November 11, 2023 governorship elections.

The Independent National Electoral Commission (INEC) held governorship elections in Imo, Kogi and Bayelsa states on November 11, 2023.

In the election characterised by irregularities including vote-buying thuggery and pre-recorded results, APC candidates were declared victorious in Imo and Kogi states while the Peoples Democratic Party (PDP) candidate and incumbent Governor of Bayelsa State secured re-election.

However, documents SaharaReporters obtained on Thursday show that the funds were moved to the states on November 4 and 6 respectively in the name of providing palliatives for indigent and underprivileged people.

But government sources told SaharaReporters that the funds were mobilised to the states days before the elections to buy votes under the cover providing funds for vulnerable people in the states.

“It was all a ruse to buy votes for APC and their candidates in the elections using the programme for vulnerable people as cover; that was why the events were done a few days before the governorship elections in the three states,” one of the sources said.

A breakdown of the disbursement of the funds shows that N72,374,500 was moved to Kogi State on November 6, 2023, through the Director of Finance Account, National Social Investment Agency, just five days before the governorship election.

Also on November 6, the ministry approved and moved N72,423,250 million to Bayelsa State under the ministry's 2023 grant for vulnerable groups programmes.

On November 3, 2023, a total of N81,390,750 million was moved to Imo State under the same guise of providing grants to vulnerable groups, just seven days before the governorship election.

According to the documents, the Minster of Humanitarian Affairs and Poverty Alleviation, Dr Edu personally approved the moving of the funds to the three states.

On October 31, 2023, the Nigerian House of Representatives summoned Edu to brief the chamber on the status of the federal government’s conditional cash transfer programme to 15 million households.

In a motion of urgent public importance, the House expressed concern over the handling of the programme, citing a lack of transparency and alleged fraudulent practices.

The lawmakers asked the minister to provide details on the collation of data and the distribution of funds.

President Bola Tinubu launched the conditional cash transfer programme in October as part of his efforts to address poverty and vulnerability in the country. The programme aims to provide monthly cash transfers of N25,000 to each of the 15 million beneficiary households for three months.

The invitation of the minister by the House comes amid reports of irregularities in the program’s implementation, including allegations that some beneficiaries had been excluded while others had been paid multiple times.

The lawmakers asked the minister to provide details on the collation of data and the distribution of funds.

However, efforts to reach the minister failed as she did not answer calls from SaharaReporters. She also did not reply to text messages sent to her mobile line.

A 17-year-old girl, Special Ajiri, who went missing on Wednesday has been found after hours of search. The girl was said to have gone missing at about 3:00 p.m., after leaving home to see a friend.

Her mother, Ebegbare Ajiri, during the search had turned to social media for help. She wrote: “Please, my baby is missing. She left home in Ijanikin, at about 3:00 p.m. to see a friend at Agbara but never got to her destination. She’s just 17. If you live around Iya Oba to the Agbara axis and you have seen her, please, let me know, or report to the nearest police station.”

Although information concerning her discovery was sketchy, yesterday, her mother, who gave an update, wrote: “She’s been found and is currently hospitalised. Thank you all for your prayers and best wishes.”

She added: “They boarded Korope bus. I think they used chloroform to make her unconscious. She found herself in Oko Afor and was rescued by a vigilante group.”

Spokesperson for the Lagos State Police Command, Benjamin Hundeyin, said the case was not reported.

MEANWHILE, Lagos State Commissioner of Police, Adegoke Fayoade, yesterday, issued a 10-point strategic roadmap for officers of the command.The CP said the command is committed to rejuvenating the attitude of officers towards ensuring quality and optimum service delivery, building trust, and improving the relationship between residents and the police.

He promised to increase police visibility and accessibility and be open and responsive to the citizens. Fayaode also promised to strengthen inter-agency cooperation and collaboration at all levels, to enhance safety and security and improve the quality of justice administration.

This is besides conducting periodic and unannounced spot checks at holding cells, police stations, as well as inspection of weapons and ammunition carried by personnel to ensure compliance with official regulations.

He said: “We are committed to ensuring officers adhere strictly to the code of conduct and ethics of our noble profession and maintain the highest standards of integrity both on and off duty, and partnering with the media and organised community groups to promote better police service delivery;

“Partnering with the health sector to ensure the continuous wellbeing of officers for healthy and quality service delivery is also part of our agendas.

“We will establish an accessible mechanism of receipt of complaints made by members of the public for swift and impartial investigation to complement the efforts of the Command Complaint Response Unit.”

A 58-year-old man identified as Osuedi Sunday Christian has been abandoned by his family at the University Benin Teaching Hospital, Benin City, Edo State.



SaharaReporters gathered that Osuedi who hails from Orogun, Ighoyobi Compound in the Ughelli North Local Government Area of Delta State was taken to the hospital by his wife on June 23, 2023, and reportedly abandoned there.

SaharaReporters learnt that she had not shown up since then.

And when the hospital contacted her, she said she had moved out of the apartment where the couple used to stay in Lagos.

The Public Relations Officer of the hospital, Mrs. Queen Aigbodion told SaharaReporters that UBTH had been feeding and taking care of Osuedi for over six months.

“As of yesterday (Thursday) when I spoke to the wife on the phone, she insisted that she was no longer in the house,” Aigbodion said.

She said, "The wife brought him to the hospital on the 23rd of June 2023 and that was the last time we saw her. The man is very sick but can talk.

"We made an attempt by taking him to his home town, but nobody seemed to know him there and we brought him back to the hospital because we cannot just abandon him there since he cannot help himself.

"UBTH has been feeding him and taking care of him, while the nurses are also supporting him with their personal money.

"The patient is an Urhobo by tribe and has two underaged children with his wife who is from Calabar, Cross River State. His parents are deceased.

"He has lost contact with his siblings since he claimed to have left his home town for Lagos State over 40 years ago.

"We therefore use this medium to call on members of the public to help reach/contact his family members to come for him.”

Nigeria will pay an interest of 11.85 percent per annum on the $3.3 billion “pre-export finance facility” (PxF) facilitated by the Nigerian National Petroleum Company (NNPC) Ltd and arranged by Afrexim Bank, TheCable can report.

Until now, the fine details of the transaction, which has a five-year tenor, had been withheld by all parties involved.

A similar cocoa-backed $800 million facility arranged for Ghana by its cocoa marketing board attracts an interest of 8 percent per annum.

Bilateral lenders, such as the International Monetary Fund (IMF), would typically charge 1-3 percent with a longer tenor.

In the details seen by TheCable, Nigeria pledged a total of 164.25 million barrels of crude oil — at 90,000 barrels per day — starting from 2024 to repay the loan through Project Gazelle Funding Ltd, an “orphan” special purpose vehicle (SPV) incorporated in Bahamas for the PxF.

Effectively, the NNPC has pledged 38.58 percent of five years’ worth of tax and royalty oil to secure the loan.

Nigeria pledges over $12 billion worth of oil
At the beginning of 2024, a barrel of Nigerian oil was sold at the international market at $77.93 per barrel, according to the Central Bank of Nigeria (CBN) data.

At $77.93 per barrel, the 164.25 million barrels of oil pledged by Nigeria equals $12.8 billion — about three times more than the facility taken.

Pre-2014, the national oil company used to remit an average of $3 billion from oil sales every month.

Officially, Project Gazelle Funding Ltd (PGFL) is the borrower while the NNPC is the “sponsor” and will pay with oil to the SPV to liquidate the loan.

To make the repayment, the NNPC will forward-sell 90,000 barrels per day of Nigeria’s share of offshore crude oil under the production sharing contract (PSCs) with the oil companies.

Under PSCs, the companies usually pay royalties and taxes by giving the oil equivalent to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Inland Revenue Service (FIRS) respectively.

The NNPC in turn exports the oil on behalf of NUPRC and FIRS and remits the proceeds to the agencies.

This is part of the revenues paid into the federation account and shared by the three tiers of government.

But under the PxF, the revenue from 90,000 barrels per day will be used to service the loan in the next five years.

The loan arrangers will get a commission of $66 million or 2% of the facility, TheCable further learnt.

Nigeria will pay 2 percent penalty per annum in the event of a default.


‘DOLLAR LIQUIDITY TO STABILISE THE NAIRA’

The national oil company announced in August 2023 that the PxF was to support the federal government “in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market”, describing it as “a relief for the naira”.

It called the facility “crude oil repayment” with an upfront cash loan “against proceeds from a limited amount of future crude oil production”.

At the time, the dollar exchanged for an average of N775 in the official market and N885 on the streets.

The rates have now moved to N1,035/$ (official) and N1,230/$ (parallel).

Nigeria’s outstanding forex liabilities are currently thought to be over $7 billion.

In an explainer after announcing the PxF last year, the NNPC said its exposure is very limited, “covering just a fraction” of their entitlements and that “there are no sovereign guarantees tied to it”.

It said it “will also equip the Federal Government with the necessary dollar liquidity to stabilize the Naira, with limited risk”.

A strengthened naira as a result of the initiative, it said, “will lead to a reduction in fuel costs. This means that if the Naira appreciates in value, the cost of fuel will drop and further increases will be halted”.

It also ruled out subsidies, maintaining that a stronger naira “will result in lower prices from the current level, making subsidies unnecessary. The deregulation policy remains unchanged”.

Critics questioned NNPC’s involvement in getting loans to boost forex reserves when it should be concentrating its efforts on bringing in more oil revenues.

There were also questions over the decision to pledge the tax and royalty oil belonging to the entire federation to secure the loan.

Analysts also queried why the details of the deal were never made public.

Samuel Oamen


South African business mogul, Johann Rupert, has dethroned Nigerian Aliko Dangote to emerge as Africa’s wealthiest man, according to a list released by Forbes Magazine.

Here is a list of Africa’s richest men (Rank, Name and Net worth)

1. Johann Rupert & Family $10.3 billion

2. Aliko Dangote $9.5 billion

3. Nicky Oppenheimer & Family $8.3 billion

4. Nassef Sawiris $7.4 billion

5. Abdulsamad Rabiu $5.9 billion

6. Nathan Kirsh $5.8 billion

7. Issad Rebrab & Family $4.6 billion

8. Mohamed Mansour $3.6 billion

9. Naguib Sawiris $3.3 billion

10. Mike Adenuga $3.1 billion

Tahir Mamman, Minister of Education, has said that security operatives will go after holders of certificates from degree mills.

The minister was commenting on the Federal Government’s recent directive on degrees from Benin Republic and Togo during an interview on Channels TV’s Politics Today.

Following an investigative report by Daily Nigerian indicting a university in Benin Republic where a first degree was obtained within weeks, the Federal Government through the Federal Ministry of Education on Tuesday suspended accreditation of degree certificates from Benin Republic and Togo.

But when asked during the interview about his position on holders of such certificates who have been in the system, the minister said, “If along the line, we are able to trace people who are in the system they would be punished. For instance if a particular institution or an operator has been operating in the last 10 years we can check.

“If we can get records of Nigerians who attended those institutions and once we do that they are criminals. There is no time frame for criminality. We will trace them and if we are able to lay our hands on them, certainly security operatives will go after them.”

Mamman added that the minister is widening its investigation on degree mills to other institutions in some African countries.

Alhaji Abdul-Samad Rabiu, Chairman of the BUA Group, said that the company would maintain its promise of selling cement at the price of N3,500 from January 2024.

He said this while speaking with State House Correspondents after a visit to President Bola Tinubu on Thursday in Lagos.

He said the company would also make the product accessible and affordable to customers despite various challenges.

“You know the price that we have set will be N3,500 per bag. You know x factory of course plus VAT and then delivered to customers depending on the region.

“As you know, the factories that we have; one is in Edo, the other one is in Sokoto state. So for example, if you want us to deliver cement to you from Sokoto say to Lagos from Adamawa or to Maiduguri, the distance is quite far.

“So dependent on the distance and dependent on the location. You know the price changes but we intend to keep that promise,” he said.

Rabiu added that the cement company site in Sokoto that would be inaugurated by January 2024 is expected to further expand the market across the country.

“And as we all know, the volumes that we will be having will be about six million tonnes per annum combined. And we expect those volumes to have an impact.

“Though we’re having some issues here and there, but these are issues that I believe we can address and we are addressing them.”

Rabiu said his visit to the President was to felicitate with him on the Christmas and New Year festivities, adding that it was a pleasant one.

Unlike any other year, 2023 witnessed a whirlwind of policy changes by the federal government through the Central Bank of Nigeria (CBN).

The impact of the monetary policy reviews — described by some global observers as ‘bold’ — reverberated through every segment of the economy, including households and businesses.

From the unification of the foreign exchange (FX) windows to the naira redesign policy, 2023 would remain etched in the hearts of Nigerians as a period marked by economic pain due to the CBN’s policy strategy to revive a dying economy.

TheCable looks at the most impactful CBN policies that shook the economy in the year.


NAIRA REDESIGN POLICY

The naira redesign policy was a major highlight of the year. It was announced on October 26, 2022, by Godwin Emefiele, the former CBN governor. The policy entailed the redesign of the high-valued currency notes: N200, N500, and N1000.

The authorities said the goal was to control money supply and support security agencies in tackling illicit financial flows. On November 23, 2022, former President Muhammadu Buhari unveiled the new notes.

Following the unveiling — a development that essentially kicked off the policy’s implementation — Nigerians were directed to deposit the old notes in their banks before January 31, 2023, when they would cease to be legal tender.

As days began to count towards the deadline, chaos suddenly engulfed Nigeria — a country that had been quietly coping with an already bad economy. Pockets of violence erupted across the nation. Citizens, overwhelmed by the attendant cash scarcity, damaged some banks’ facilities while others were burnt.

The unsavoury events elicited criticisms from the government, the private sector, and several civil society groups (CSOs), leading to a short extension of the deadline to February 10, 2023, after an ex-parte order by the supreme court.

After several attempts to bring relief to Nigerians, the supreme court, in another ruling in March 2023, said the old N200, N500, and N1000 notes should remain legal tender until December 31. This successfully doused tensions as commercial banks resumed the dispensing of old currency notes.

On November 14, 2023, the financial regulator (under a new government) further extended the deadline, declaring that the old naira notes will remain legal tender beyond December 31, 2023 — and no longer have a deadline.

Validating the change, the apex court ruled that the old and new notes should co-exist until further notice, allowing the CBN to direct banks to accept and issue both the old and redesigned naira notes indefinitely.

A LIBERALISED FX MARKET

As part of a series of policies to ensure economic recovery, the CBN in June 2023, announced the unification of all segments of the forex exchange (FX) market into the investors & exporters (I&E) window.

The FX market liberalisation policy saw the devaluation of the naira as the willing buyer, willing seller model was introduced.

Since the development, the FX market has continued to witness high levels of volatility, resulting in a further widening of the gap between the parallel and official rates continues to widen.

The policy also worsened inflation evidenced by the skyrocketing prices of goods and services across the country.

Meanwhile, the apex bank’s policy followed a declaration by Tinubu that the “monetary policy needs thorough house cleaning. The Central Bank must work towards a unified exchange rate”.

Other significant reforms have since been implemented in the financial sector, including the removal of restrictions on inflows into domiciliary accounts.

FX BAN ON 43 ITEMS LIFTED

Meanwhile, amid the high levels of volatility experienced in the FX market following the unification policy, the CBN announced the lifting of the ban on 43 items previously restricted from accessing forex.

The regulator said the decision was part of efforts to boost liquidity in the foreign exchange market.

In 2015, the bank had restricted some items from accessing FX. The restriction was placed to reduce FX demand for products that could be locally produced.

According to the CBN, the forex restriction placed on cement, rice, tomatoes, and 40 other products, had pushed the demand for FX to the parallel market, causing a hike in the black market exchange rates.

Some of the 43 items are; rice, cement, margarine, palm kernel/palm oil products/vegetable oils, meat and processed meat products, vegetables and processed vegetable products, poultry chicken, eggs, turkey, clothes, Indian incense, tinned fish in sauce (geisha)/sardines, toothpicks, galvanised steel sheets, roofing sheets, wheelbarrows, head pans, among others.

CASH WITHDRAWAL LIMITS

In addition, on August 1, 2023, the apex bank exempted microfinance banks (MFBs) and primary mortgage banks (PMBs) from paying processing fees for withdrawals above the cash withdrawal limits.

The gesture had come months after the CBN initiated the cash withdrawal limits policy – which commenced on January 9, 2023.

In December 2022, the CBN directed deposit money banks (DMBs) and other financial institutions (OFIs) to ensure that over-the-counter cash withdrawals by individuals and corporate entities per week do not exceed N100,000 and N500,000, respectively.

However, following a public outburst, the bank increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5 million, respectively.

The apex bank said in compelling circumstances where cash withdrawals above the specified limit are required for legitimate purposes, a processing fee of 3 percent and 5 percent will be charged for individual and corporate organisations, respectively.

According to the CBN, the aim was to boost the cashless policy and reduce the amount of cash outside the banking system.

CONTACTLESS PAYMENT

Also, to encourage the adoption of cashless transactions, the regulator pegged daily transaction limits to N50,000 for contactless payments in June 2023.

The CBN said the policy became necessary due to the high potential of risks.

The financial regulator said transactions above N50,000 would require verification.

“Following the issuance of the guidelines on contactless payments in Nigeria and cognisance of the risks associated with contactless payments, the bank, hereby, defines transaction limits above which verification and authorization are required,” CBN had said.

“Transaction limits for contactless payments through accounts/wallets in Nigeria shall be as follows: transaction limit 15,000, daily cumulative limit N50,000.”

SOCIAL MEDIA HANDLES FOR KYC

In June this year, commercial banks were further directed by the apex bank to collect and verify social media handles as part of their know-your-customer (KYC) procedures.

The apex bank issued the directive in its gazetted legislation, titled, ‘Customer Due Diligence Regulations 2023’.

According to the CBN, the objective of the regulation was to prevent financial crimes and terrorism while boosting the precision and thoroughness of customer identification.

The regulator also said financial institutions would be required to identify their customers, regardless of whether they are permanent or occasional clients.

The dust over the probe of Central Bank of Nigeria (CBN) is yet to settle.
Titan Trust Bank Chairman, Mr. Babatunde Lemo, and two others have been invited by the Special Investigator on CBN, Mr. Jim Osayande Obazee.

The other invited shareholders are Mr. Cornelius Vink and Mr. Raul Savara.

Lemo, who was CBN deputy governor between 2004 and 2014, is expected to appear with the shareholders for further grilling on Thursday.

It was learnt that the big stick might be wielded should those invited fail to honour the invitation to enable the investigator to unravel other details on the $ 500 million acquisition of Union Bank by Titan Trust Bank (TTB).

A conglomerate, the Tropical General Investment Group (TGI), on Sunday, said the USD500 million capital used to pay for the transaction was transparent and unimpeachable.

TGI insisted that it is the majority owner of TTB and Union Banks.

Obazee and his team of crack detectives alleged that their findings proved otherwise.

In a report to President Bola Ahmed Tinubu, the Investigator alleged that the two banks were owned and bought by the proxies of the former CBN Governor, Mr. Godwin Emefiele, who has denied the claim.

But attempts by the investigators to interact with the Chairman of TGI, Vink, since August have not succeeded.


TGI said Vink, who has been in Nigeria since 1978, is an elderly person and has recently been medically advised to limit his movement.

The Special Investigator insisted that since TGI assured his team that the two shareholders would “soon” honour the invitation, it was time for them to come for interaction.

In a December 24 letter, the Special Investigator asked Lemo and the two others to appear before his team on Thursday.

The letter, titled: RE: CBN INVESTIGATION ACTIVITIES INVITATION FOR A FOLLOW-UP MEETING WITH THE SPECIAL INVESTIGATOR, said Obazee has not heard from the two shareholders or received the requested documents from them.

The letter was signed by the Head of Operations, Office of the Special Investigator, Eloho Okpoziakpo, a deputy commissioner of police (DCP).

The letter, which was addressed to Lemo, reads in part: “Please refer to your discussion with the Special Investigator earlier today regarding the offensive defence that your good self-issued in Punch newspapers, on behalf of TTB which you chair, as well as the email you sent to the Special Investigator today wherein you tried to provide clarification on your reaction to the report on TTB.

“The defence seems contrary to the statements, made under caution, by the persons connected with these transactions, including your good self, before the Special Investigator at the Department of State Service (DSS) in August.

“In the said newspapers, you referred to both Cornelius Vink and Rahul Savara as ‘prominent global entrepreneurs and having thriving businesses in Nigeria.’

“In your email as well as your earlier discussion with the Special Investigator, you suggested that both of them be invited to provide clarification on their share ownership and given seven days to make such clarification; failure which they will forfeit their shares to the Federal Government of Nigeria.

“We are surprised at your request with regard to these two shareholders. They were given this opportunity via a letter to them dated 28th August 2023.

“Instead of honouring the invitation and providing the requested documents, we received a letter from the Company Secretary of Union Bank, Somuyiwa Sonubi, dated 15 September 2023, informing the Special Investigator that Mr. Cornelius Vink was out of the country on medical grounds and that both ‘Messrs Vink and Savara will be available for the meeting as soon as they are in Nigeria which will be soon’.

“Up until this offensive defence that you put in the public domain, the Special Investigator has neither heard from them nor received the requested documents.”

Obazee said he and his team have decided to give a timeline for Lemo and others to come for interaction.

The letter added: “Accordingly, you are hereby invited to come along with Messrs Cornelius Vink and Mr. Rahul Savara to meet with the team of Special Investigators by 2pm on 28th December 2023 without fail or excuse.

“Please inform them to come along with all the documents /information requested from them by the letter to Mr. Cornelius Vink dated 28th August 2023.

“You will also be required to make additional statements to your earlier statement on that day.”

The Special Investigator said if Vink and Savara refused to honour the committee’s investigation, they may forfeit their shares in the Titan Trust Bank and Union Bank.

The letter said: “Kindly note that if Messrs Cornelius Vink and Rahul Savara refuse to attend this meeting and provide/defend the requested documents /information, it will be construed that they have decided to forfeit the purported shareholdings in TTB and Union Bank of Nigeria, irrespective of which vehicle that they are using to own the purported shares.

“Should you also refuse to attend the meeting to provide additional statement to your earlier statement made in August 2023, it will be construed that you misled the Nigerian public with your reaction in The Punch Newspapers today which has gained wide publicity in both electronic and print media.

“This invitation is to further ensure that it is beyond reasonable doubt that the Federal Government of Nigeria has given you a fair hearing.”

Earlier in a 28th August 2023 letter to Vink and the Managing Directors of Titan Trust Bank and the Union Bank, the Special Investigator made a seven-point demand from them.

In the letter, signed by Dr.Ojogbe Rueben U, some of these requests included the documentation on the licensing of Titan Trust Bank, minutes of Board meetings and foreign exchange dealings transacted with the CBN.

The August letter read in part: “The Federal Government of Nigeria is currently investigating some activities of the CBN and Related Entities as well as some key Government Business Entities (GBEs).

“The investigation is led by a ‘Special Investigator’ appointed by the President, Federal Republic of Nigeria. They have since commenced the assignment.

“To this end, kindly avail the Special Investigator with the under-listed documents/ information:

“The details of the under-listed entities which should include company registration, ownership, shareholding structure, profile, particulars of directors and related entities:

· Luxis International DMCC, Unit 1141, DMCC Business Centre, Level No. 1, Jewellry & Gemplex 3, Dubai, UAE (Magna).

· Magna International DMCC, Unit 1024, DMCC Business Centre, Level No.1, Jewellry & Gemplex 3, Dubai, UAE Magna.

“Further details of the said companies should include the documentation that led to the licensing of Titan Trust Bank and the acquisition of controlling shareholding of Union Bank of Nigeria by these entities, proof of funds, internationally verifiable bank statements (from the incorporation of the entities to date) and the shareholder that gave interest-free loans to the two entities separately (names, nationality, source of the fund, proof of such funds, bank statements as well as the relationship of the entities with Mr. Andrew Chukwudi Ojei, Jerome Olagunju Shogbon, Rahul Savara, Winston Odeh, Adaeze Udensi, Ekene Samuel Louis, Godwin Emefiele, Macombo Omoile, Tunde Lemo, Mudassir Amry, Faruk Gumel, Oluremi Oni, Vink Corporation Middle East FCZ (together with the details of the shareholder that also gave Vink Corporation interest-free loan) and your good self.”


Other demands were:

· Details of how Trust receipts (from Standard Chartered Bank), Zenith Nigeria Plc and Zenith Bank (UK) were involved in the entire arrangement.

· Minutes of the Board meetings, copy of the audited financial statements and management letter that arose from the Audit of the financial statements of the two entities listed in (1) above as well as those of TTB and UBN from 2018 to date.

· Details of any forbearance received from the CBN for UBN (before acquisition by TTB) and why. “Should you not know, please come along with anyone who knows about it (with evidence).”

· Details of the loan capital from Afrexim Bank (Egypt), collaterals thereto and the involvement of the CBN in the entire arrangement.

· Any Foreign Exchange dealings that transacted with the CBN as a retail or wholesale facilitator with TGI, TTB, UBN, Luxis, Magna and other related entities no matter how remotely connected.

· Any other document(s) that can assist the Special investigator in arriving at an informed decision on the investigation of TTB, UBN, CBN and any person(s) of interest in the entire arrangement.

“You are to come along with Mr. Rahul Savara (in person) along with the requested documents to the National Headquarters of the Department of State Services (DSS) in Abuja by 4pm on Friday, 1st September 2023 for interaction in connection with this investigation. Accept the assurances of the utmost regards of the Special Investigator.”

The Investigator also showed that he gave the Union Bank of Nigeria ample time to prevail on Vink to appear before it.

He said although the bank complained of a “short notice period,” it said “Messrs. Vink and Savara will be available for the meeting as soon as they are in Nigeria.”

The bank’s response was contained in a September 1st, 2023 letter to the Special Investigator by the Company Secretary of the Union Bank of Nigeria, Mr. Somuyiwa Sonubi.

It said due to Vink’s medical condition, he was unable to make the appointment as proposed.

The letter was titled “CBN INVESTIGATION ACTIVITIES: INVITATION FOR A MEETING WITH THE SPECIA INVESTIGATOR.”

The letter said: “We write in response to your letter dated 28″ August 2023 on the above subject matter and to submit the documents/information requested in printed and electronic formats for ease of your review and analysis.

“Furthermore, and with all due respect to your office, we wish to inform you that Mr. Cornelius Vink is currently out of the country on medical grounds.

“Given the short notice period in the said letter and Mr. Vink’s medical condition, he is unable to make the appointment as proposed and craves your indulgence in this regard.

“Please find attached copies of Mr. Vink’s medical report for your kind review. Messrs. Vink and Savara will be available for the meeting as soon as they are in Nigeria which we hope will be soon.

“Mr. Vink sends his sincere apologies in this regard, whilst assuring you of his commitment to support your mandate. Please accept the assurances of our highest regards.”

By Daniel Abia



P/Harcourt: There is apprehension everywhere. People can’t discuss politics freely again for fear of victimization by opposing political camp. There is distrust among the citizens. Rivers State has a history of turning political rivalry to a potential street fight. With President Bola Ahmed Tinubu’s peace accord collapsing, it is difficult to predict what becomes of the crisis.

Just last Wednesday, one of the signatory projects of former Governor Peter Odili administration, the House of Assembly Complex, christened “The Dome”, was brought down by the order of the state government. The excuse for the action was that the building had some structural defects and must be corrected to avoid possible disaster.


With the demolition of the Complex, it presupposes therefore that the faction of the lawmakers led by the Speaker, Rt. Hon Martins Chike Amaewhule cannot access the Chambers of the Complex to carry out any legislative function again.

But not wanting to play a weakling, Amaewhule and his men on Thursday found alternative location when they adopted a motion to convert the auditorium of the Assembly quarters to new hallowed chambers for their sitting.

The cliché that when two elephants fight, the grass suffers is a stark reality of what is currently playing out in Rivers state. Obviously, some sterling legacies of Dr. Peter Odili have either been touched or out rightly brought down whenever political gladiators in the state engage in political war of attrition or otherwise.

First, in 2013, the judiciary complex containing world-class buildings undertaken by Odili to give lawyers the needed comfort to carry out their legal responsibilities in the state was locked up for about two years and nobody could access the court for any legal matter.

Next was the sale of gas turbines built by the Odili government. Odili’s vision to build gas turbines in Omoku, Eleme and Trans-Amadi was to provide sufficient power to the state to boost the economy. That vision was frustrated on the slap of political interest when they were sold out and the money accrued diverted to politics. Today, the state is struggling with erratic power supply and partial blackout in some areas.

Now, watching the exquisite edifice that was the pride of the state, (House of Assembly complex), gone down in rubble, only brings a sad reflection of the Edo state government’s experience when a governor sent bulldozers to remove the roof of the state Assembly building.

In the course of the Rivers crisis, no fewer than three court orders had been issued by courts of competent jurisdiction to the effect that the two factions in the Assembly led by Martins Amaewhule and Rt Hon Edison Ehie should not access the Complex until all pending cases to that effect were resolved.


On November 30, 2023, a court order for interim injunction was granted restraining the National Assembly from taking over the legislative functions of the State House of Assembly and empowering a faction led by Amaewhule to start sitting to perform legislative functions pending the hearing and determination of a motion on notice also filed by Amaehule’s camp. This interim order was obtained at the Federal High Court, Abuja Judicial Division.

Before now, on November 9, 2023, the Federal High Court, Port Harcourt Judicial Division made an order stopping the two factions of the State Assembly from siting, pending the determination of a motion on notice also pending before the said court.

Again, another suit was pending before the Federal High Court, Port Harcourt Judicial Division. One of the prayers was for an order of the court directing the National Assembly to take over the legislative functions of the Assembly since the House has been fractionalized and unable to perform their legislative functions.

While the order of the court restraining both factions of the Rivers State House from performing any legislative functions was still pending, the faction led by Amaewhule quickly rushed to Abuja to obtain another order from the same Federal High Court empowering his own faction of the House to start sitting for legislative business.

Comrade Solomon Lenu, convener of Ogoni Development Drive, ODD, in his assessment described the attitude of these lawmakers as a direct affront to the Rule of Law. “Their action amounts to disobedience of court order”, he said.


Lenu whose group, ODD, had since commenced a constitutional process of recalling four indigenous Ogoni lawmakers from the Assembly for their role in the impeachment plot against Governor Fubara, observed that the judge who gave the order that came from the Abuja Division of the Federal High Court might have been misled and may not have known that there was a pending order from the same Federal High Court, Port Harcourt Judicial Division, restraining both factions from sitting for any legislative function.

The evolving drama in the state also saw yet another group of people who claimed to be members of the social democratic party, SDP and a faction of APC in Ahoada West local government area of state on Sunday declare their support for Governor Fubara. They also announced their defection to the PDP.

What most people crave to know is, can the independent national electoral commission, INEC, by the prompting of the PDP, declare the seats of the 26 defected lawmakers vacant? With the above conflicting orders coming from the court with the same constitutional powers, can Nigerians truly trust the judiciary to do the needful in this regards?

In March 2022, a Federal High court in Abuja sacked 20 members of the Cross River state House of Assembly for defecting from the PDP. PDP had instituted a suit against the lawmakers over their defection to the APC. The judgement was in a suit marked FHC/ABJ/CS/975/2021.

Ruling on the case, Taiwo Taiwo, the presiding judge, held that the lawmakers should vacate their seats, having abandoned the political party that sponsored them to power.

INEC, speaker of the House of Representatives, National Assembly, Clerk of the National Assembly, Cross River state House of Assembly, Clerk of the State House of Assembly and the APC were also joined as defendants in the suit. Mike Ozekhome, counsel to the 4th-25th defendants, had challenged the court’s jurisdiction to hear the suit.

Giving a legal insight into the matter, Barrister Shogbeye Eli, former spokesman of the Rivers state APC 2023 campaign council said “Section 109(1)(g) of the Constitution of the Federal Republic of Nigeria 1999 (as Amended) forbids the defection of legislators elected on political party platforms to other parties before the expiration of their four-year term in office.

“The above constitutional provision has also received judicial ventilation by the Supreme Court in the case of Ifedayo Abegunde v. Labour Party where the Appellant who defected to another political party lost his seat. Abegunde had defected from Labour Party on whose ticket he ran for membership of Ondo State House of Assembly to another party.

“In the very recent past, a Federal High Court sitting in Abuja towed the line of precedent set by the Supreme Court in dismissing former PDP members of the Cross River State House of Assembly loyal to former Governor Benedict Ayade for defection to the APC”.

Barrister Sogbeye, a staunch member of the APC in Rivers state described the defection of the lawmakers as “unlawful, unconstitutional and illegal”, he added that “lawmakers should not be lawbreakers. They should be custodians of the law”.

Meanwhile, a Rivers State High Court in Port Harcourt had since ordered the factional Speaker of the State House of Assembly, Rt. Hon. Edison Ehie, to preside over the activities of the legislative arm of the state pending the determination of a motion before it.

Justice M.W Danagogo, gave this order, Tuesday, in an Experte Motion, Suit No. PHC/3030/CS/2023 in which Rivers State House of Assembly is the 1st claimant and Rt. Hon. Edison Ehie, (Speaker, Rivers State House of Assembly, 2nd claimant and Rt. Hon. Martin Amaewhule, as 1st defendant while Rt. Hon. Dumle Maol, is the 2nd defendant.

But could the crisis between Wike and Governor Fubara be qualified as having any ethnic coloration? Professor Benjamin Okans is the President General of Ijaw National Congress, INC, a socio-political group that speaks for the Ijaw people worldwide. “INC is fully in support of Governor Fubara. We are also fighting impunity to sustain our democracy”.

Professor Okans noted that “it will not be palatable if the governor is impeached. People including the Ikwerres, the Etches and other ethnic nationalities are fed up with autocratic tendencies against the governor. Wike is over-ambitious. Ijaw people will come out to protect their own”.

Looking at it from any perspective, Fubara enjoys the solidarity of majority of Rivers people both indigenes and non -indigenes alike. What they want to see is a governor who is ready to take on his former godfather head-on.

“Governor Fubara should show that he is the governor of the state. He has what it takes to engage Wike power for power, money for money”, said Franklin Kim, a social commentator.

Nevertheless, Wike would not back down. He wanted to prove to the APC leadership, particularly President Tinubu that he still holds the political soul of the state. This prompted the defection of the 25 lawmakers followed by the resignation of key officers of the government.

So much money is said to have exchanged hands as the fight rages. Landed properties have also been promised those who will be loyal to end. Obviously, so much will unfold in the coming days, weeks and months.

Fathers opt for secret DNA

Many fathers, our correspondent gathered, now conduct secret DNA testing for their kids.

This is as a leading DNA testing centre, Synlab, noted that Nigeria had the second-highest rate of paternity fraud in the world. It added that two in five Nigerian men were not biological fathers of their children and three in five paternity tests turned out negative.

A father of four, Nnamdi (surname withheld) told our correspondent in a telephone conversation that he took his kid’s sample along with him on his last trip to China where he went to buy some goods and had them checked out.

“I came back with joy in my heart. I even bought my wife a car. She did not know what I had done. If she knew, she would just kill me. I trust her, but I just want peace of mind. I don’t want to raise someone else’s child even if it is by mistake,” he said.

Another father, who said he was a preacher in a Pentecostal church in Lagos, responded to a request by this reporter, saying he had tested his two daughters and found out that they were his.

“I did it secretly. I don’t want any problem from my wife,” he added.

Mr Okechuwku (surname withheld) was not that lucky. He told this reporter in confidence that he just found out five days before our correspondent’s request that he was not the father of his supposed son.

“I have four children – a seven-year-old son and three daughters aged eight, 10 and 12. I have been married for 10 years, but I started living with my wife for over 15 years. I haven’t told her. I haven’t even gone home since I found out,” Okechukwu said.

When asked what he intended to do, he did not respond.

His story is similar to those of some Nigerian men who may have to face the tough reality of finding out the truth that will tear their families apart.

In a survey conducted by our correspondent, out of 123 respondents, 70 men said they would get a DNA test done for their kids if they had the means, mostly for “peace of mind.”

Only 11 of the 53 women said they did not mind having their husbands conduct DNA on their children, adding that it would only build trust in their unions.

The remaining 42 were split between ‘undecided’ and ‘no’. Most said they would leave the marriage should their husband demand a DNA test. The ones who were single among them said they would not marry any man who did not trust their ‘judgment’.

One of the women, a pastor with a Pentecostal church in Rivers State, who opted for an interview, Mrs Selene Ohakwe, said she would be disappointed if her husband came up with the idea of doing a DNA test for her five children.

However, she said she was confident that all five belonged to him.

“My husband married me a virgin at 22. No man except him has seen my laps. I am not afraid of DNA of any sort. It will only make him honour me more, but I will be disappointed at first,” she said.


Genotype exposes paternity fraud

A Nigerian doctor on X, @Maxvayshia, recounted how a soldier discovered that his wife allegedly committed paternity fraud following a medical emergency involving their 10-year-old son.

Maxvayshia in his tweet on Friday, stated that upon admission, he discovered that the child presented with some physical features likened to those of sickle cell patients.

The doctor added that his suspicions were later confirmed after the ordered genotype test showed that the child carried the SS genotype, while the soldier was AA.

His tweet read, “Just this afternoon, I admitted a 10-year-old child who had a few physical features of a sickle cell child. Index of suspicion made me order a genotype test with the knowledge of the mother who brought him in. The test result showed the child to be SS.

“The father, a soldier, was informed and immediately reacted sharply, saying he is AA. He said he had run the test several times. He came down from his station to our facility.

“He insisted on carrying out genotype testing again at our facility. He is AA. It has been a hectic day.”

In 2014, Afrobeat maestro, Femi Kuti, noted that a DNA test proved that two of his children were not his.

The publication, which went viral at the time, left Nigerians in shock. He has since returned the children to their father.

“I never knew somebody could give you what is not yours” he lamented.


Swapping babies

A Nigerian lady, Oriaku Enwe Iroh, took to Facebook to narrate how a nurse swapped her friend’s sister’s baby a few hours after birth.

According to the lady, the nurse who swapped her baby after birth said she did it on the instructions of the hospital’s matron, adding that the incident occurred in Lagos.

She wrote, “Dear husbands and wives, when you’re due to deliver a baby or in labour, please take a birthing partner with you. Did you hear me? Study the hospital’s exit doors and put a name to the faces of the nurses.

“Secondly, tell the nurses that you don’t want your baby to be taken away from the delivery room. Once they cut the umbilical cord, hold your baby. I know the pain! I know. But, hold the baby and never let go.

“Thirdly, if you’re having a Caesarean Section, please take a birthing partner with you, and tell the doctor you don’t want the nurses to wash the baby. Tell your doctor to hand over the baby to your birthing partner.

“Washing of a new baby is not compulsory in the United Kingdom. The midwives in the UK don’t wash the baby that day. Nne, don’t panic.”

Narrating further, she said her friend’s sister gave birth to a baby boy in the morning, but the nurse who took the baby to clean it, came back with a baby girl.

Iroh added, “She came back with a baby girl that looked like a two-week-old baby. But the God we serve was awake. The nurse mistakenly came back with a wrapper that was not hers (the woman who had just delivered the baby) and they found out that the baby had this local tangerine (eyeliner) in her eyes, which means the baby is not her baby. All her scans had shown it was a boy they were expecting.

“Her husband was the first to spot the eye tangerine and gave the nurse a sound slap to produce his baby. He called his elder brother, who is a lawyer in Lagos, to come with people. Within 20 minutes his brother and their friends had filled the hospital.

“The nurse said it was the matron who asked her to replace the baby with the baby in the chief matron’s office. The matron denied telling the junior nurse to do such.

“The matron was given a beating of her life. They have involved the police and must go to court. The doctor on duty is claiming innocence. Her baby has been returned to her. They are home now.

“If possible conduct DNA before leaving the hospital, just to make sure you’re taking your real baby home. Things are happening o!”


How DNA testing works

According to the National Human Genome Institute, deoxyribonucleic acid (aka DNA) is the molecule that carries genetic information for the development and functioning of an organism. DNA is made of two linked strands that wind around each other to resemble a twisted ladder — a shape known as a double helix.

Each strand has a backbone made of alternating sugar (deoxyribose) and phosphate groups. Attached to each sugar is one of four bases: adenine (A), cytosine (C), guanine (G), and thymine (T).

The two strands are connected by chemical bonds between the bases: adenine bonds with thymine, and cytosine bonds with guanine. The sequence of the bases along DNA’s backbone encodes biological information, such as the instructions for making a protein or RNA molecule.

The report published on the website of the NHGI notes that the DNA from any two people is 99.9 per cent identical, with that shared blueprint guiding the development and forming a common thread across the world.

“The differing 0.1 per cent contains variations that influence our uniqueness, which when combined with our environmental and social contexts, give us our abilities, our health, our behaviour,” it added.

A Canada-based molecular bioscientist, Dr Opeyemi Lawal, while explaining the workings of DNA testing, notes that each individual has a unique genetic fingerprint.

A biological child, according to him, is known to acquire 50 per cent each from both biological parents.

“So, to determine if a man is the biological parent of a child, the DNA from both persons will have to be compared using specific markers. The more matching DNA markers in both persons, the more the likelihood that they are related. The man must match the child’s data at every marker tested to be considered the biological father. According to studies, DNA paternity test has more than 99 per cent when performed and interpreted correctly.”

According to the Synlab Diagnostic Centre, the DNA test can either be paternal or maternal.

The paternity of a child means being the father of that child.

“Paternity testing provides strong scientific evidence by using DNA to establish whether a paternal biological relationship exists between a man and a child. The use of several segments of DNA called short tandem repeats allows paternity to be practically proven with a 99.999 per cent probability. When the probability is zero per cent, paternity is excluded,” Synlab noted.

Maternity testing, which works like the paternity test, establishes whether a woman is the biological mother of a child.

“Kinship testing is used for non-parental biological relationships such as a grandparent, brother or sister, aunt or uncle. It also utilises DNA to determine the likelihood of a biological relationship between individuals,” Synlab added


Requirements for paternity testing

Synlab noted on its website that to assure confidence in its results and to make the same suitable for legal purposes, paternity testing in Synlab was a tightly controlled process.

According to the centre, the conditions which need to be complied with include signed consent of all parties involved; all parties must provide valid means of identification; provision of additional documents as required (court assignment of custody); compliance with Nigerian data protection regulations; compliance with general data protection regulation of the European Union and agreement on the mode of results delivery.

Required documentation includes a valid identification of both parents (driving licence, passport, national identity card); the birth certificate of each child and two passport photos per child.

It added that it would take five days to two weeks, depending on the complexity of the tests.

It further added that using DNA to test the paternity of a child was the most accurate method available.

This method, according to Synlab, can determine with about 99.999 per cent probability that an alleged father is the biological father of a child.


How much is DNA in Nigeria?

Smart DNA, another leading DNA testing centre based in Lagos, reveals that the price for DNA testing begins at N150,000.

For the personal paternity test (also called peace of mind), the price is N150,0000. Prenatal paternity test costs N1.5m. An immigration test costs N270,000, while a legal paternity DNA test costs the same.


DNA reliable – Molecular biologist

The molecular bio-scientist, Lawal, noted that DNA testing to determine paternity or maternity was very reliable and accurate if done by professionals.

He said, “Paternity fraud is becoming a regular topic in the news nowadays. I have read several articles ranking Nigeria as second in the world, but as far as my search goes, I have yet to see published data or well-curated data to support this claim. As we speak, I am not sure there is any extensive survey on paternity fraud in Nigeria.

“For this to happen, first, there would have to be an increased capacity for DNA testing in the country, which is gradually picking up.

“Paternity fraud is a complex and sensitive phenomenon, especially when the long-lasting effect is taken into consideration. It does not only tend to ruin the stability in the mini-society (family), but it undoubtedly has a lasting emotional effect on the children.

“Subscribing to mandatory paternity tests at birth would either deprive the child of a father or get them a different one (biological father) who may be unwilling to step into that role.

“On the other hand, finding out later would have a devastating effect on the child and increases the possibility of losing the person the kid has grown to know as a father.

“Besides, as it stands, the paternity fraud statistics across the globe are generally low. I would like to suggest that society or the public should not be empowered to determine the extent of faithfulness of a mother, rather fathers should exercise their will to demand paternity tests when or if in doubt.”


Two fathers, one twin

Lawal also noted that a set of twins can have two fathers.

“This is an extremely rare phenomenon called Heteropaternal superfecundation. This is a phenomenon that occurs when two eggs are released simultaneously during the same menstrual cycle but are fertilised at different times by sperm cells from two different men in separate sexual intercourses that take place within a short time from the first one. This is different from identical twins that arise from one egg splitting into two after fertilisation.

“There is a low frequency of this phenomenon in humans. To date, about 24 cases have been documented. In the last five years, six cases have been documented, including three cases in China and a case each in Columbia, Iraq, and the United States,” he noted.

By Godfrey George


Recent studies have revealed that one in every four tested men turned out not to be the biological father of their child(ren) and ranks Nigeria as the second highest in paternity fraud. GODFREY GEORGE writes that increased DNA testing will open a can of worms in many homes

Mr Olanrewaju (surname withheld) rubbed both eyes with the back of his hands. He was not sure what he saw as the truth.

“How can four of the kids who call me father not be mine?” he wondered.

After secretly conducting a deoxyribonucleic acid (DNA) test to confirm his first son’s paternity at the DCC DNA Diagnostic Centre in Osogbo, Osun State, he received the shock of his life.

Sharing his story in tears on a radion station in Ibadan, Oyo State, the 44-year-old Osun State indigene said his wife, whom he married in 2007, brought another man’s children for him to father.

The children who are 16, 12, eight, and five years old were tested after Olanrewaju discovered what he termed ‘promiscuous moves’ from his wife.

After the first child’s DNA did not match his, he decided to carry out tests on all four, which returned negative.

Crying profusely, he said, “I want Nigerians to come to my rescue because I must not suffer this in vain. I married Toyin in 2007 and she gave birth to four children. But none of the children belong to me after subjecting them to DNA tests.”

However, reacting to the development, his wife disagreed with the results, saying that she was not there when the samples were taken, adding that she also did not know which samples were taken.

She stated, “I don’t accept the result. I don’t accept it because I was not there when they took samples, and I don’t know which samples they took, so I don’t accept it.

“I can’t accept it because I know how I conceived those children.”

After a few days, Toyin made a U-turn, revealing on air that the four kids indeed were not her husband’s, adding that they belonged to her pastor.

She also stated in Yoruba that her husband only fathered one, and that the other one belonged to a meat seller at the local market.

The shock on her husband’s face was met with hot tears that trickled down his cheeks and onto his chest.

The question on the lips of many is; what now will happen to the children? Although several sources close to the matter told our correspondent that the duo had since then lived apart, not much is said about the children’s welfare and whether or not their fathers had come to take responsibility, as all of them are minors under the law.

After his wife’s death in May, a Facebook user shared an anonymous post on NGL detailing how he found out that the two kids who called him father were not his.

He said he simply just decided to do the DNA test just for the sake of doing it only to be hit with the thunderbolt of the finding.

He wrote, “My wife passed away and left me with two children but I just found out through DNA that they are not my children. I am 36 years old. Please, advise me.”

In another string of posts on that anonymous thread, another Facebook user, who claimed to be living in the United Kingdom, said he only found out that his three kids were not his at the embassy when he wanted to move his family to the UK.

He wrote, “It was a rude shock to me when I found out that my three lovely kids were not mine. Three beautiful girls! I went mute for two weeks and almost died by suicide. But, after a long thought, I processed their visas regardless and moved them to the UK on a visit visa, which I renewed.

“As for their mother, we ended things the same day.”

In another related development, a Nigerian doctor on Twitter known as Dr PenKing shared a story of how a man undergoing vasectomy found out that the three kids he called his were not biologically his.

A vasectomy is a surgical procedure of cutting or sealing the tubes that carry a man’s spermatozoa to permanently prevent him from fertilising a woman’s eggs.

The doctor said the man contacted him in February 2022 for consultation about getting a vasectomy done and was assured of how safe the procedure was.

After welcoming three kids – a boy and two girls – the couple decided that they were done with having kids.

The doctor said he was astounded when the patient shared a DNA test result sheet with him, which showed that all three children were not his.

The chances of the man fathering those kids, according to the DNA, were zero.

The doctor wrote, “I’ve battled so much to avoid saying this, but I still got to say it because the guilt is enveloping me.”


‘You should have asked’

It was in 2019 when popular comedian and talk show host, Chinedu Ani, aka Nedu, found out that a son he fathered for years was not his after he had a DNA test done.

His then-wife, Uzoamaka Ohiri, said she did not intentionally give another man’s baby to him, adding that she too did not know that the child was not Nedu’s.

Uzoamaka also stressed that she did not cheat on Nedu during their brief marriage, but that she was in a relationship before meeting the comedian.

She added in an interview she granted PUNCH Live that it was Nedu’s insecurity that made him conduct the DNA test on the last child only to find out that the first one was not his.

She said, “I was seeing someone before Nedu; he (Nedu) was on the side disturbing me; he had invited me a couple of times. I turned him down. After the relationship ended, Nedu and I met up.

“Along the line, I found out that I was pregnant. Trust me, if I knew that my first child was not for him (Nedu), I wouldn’t have married him. I can’t deliberately pick another man’s child and give it to another man. If I knew, I wouldn’t have gotten married to him. On my wedding day, I was pregnant, everybody saw it.

“Nedu was insecure so he did a paternity test for the last child, but unfortunately he discovered that the first child was not his biological son.”

The mother-of-three, who married Nedu in 2013 and insisted that she was faithful while she was married to him, said the comedian did not deserve her son.

Earlier, The PUNCH had reported that Nedu posted a DNA test result which was signed by one Dr Harvey Tenenbaum, President at Viaguard Accu-metrics, Ontario, Canada, on June 24, 2019.

The document stated that the possibility of Nedu being the father of the child in question was zero per cent.

While stating that Nedu should have asked if the pregnancy she carried on her wedding day was his, Uzoamaka said she was certain that he was the father of the two other children.


Justice for the judge

In February 2021, social media went agog when a judge of the Delta State High Court, Anthony Okorodas, revealed that he was not the biological father of three children from his marriage with his former wife.

Okoroadas, who was appointed a judge two years earlier, stated this in a statement he signed, dated January 28, 2021, a copy of which was sighted by Saturday PUNCH.

The judge alleged that his former wife, walked away from the marriage when the youngest child, now 17 years old, was just six.

Okorodas, who described the development as traumatic, said he and his current wife had been wholly responsible for the well-being and the education of the three children, two of whom are university undergraduates since their mother walked away 11 years earlier.

Okorodas, who noted that he had four children with his current wife, said he first got information from an anonymous source indicating that the three children were not his during the COVID-19 lockdown in April 2020.

He, however, said he was only able to confirm the claim to be true through the DNA test in August 2020.

He stated, “I have taken the decision to address the press in respect of certain traumatic developments that have arisen between me and my ex-wife, Celia (surname withheld) of the Yenagoa Local Government Area in Bayelsa State.

“The DNA test result, which came out in September 2020, confirmed that I was not the biological father of the child.”

He said following the result of the first DNA result, he convened a joint meeting of his extended family on the one side, and Celia’s paternal and maternal families on the other side, where he “confronted her with the paternity fraud allegation.”

“Although she initially strongly insisted that I was the biological father, she has since confessed to having the child with another man during our marriage,” he added.

He said following the development, his current wife “had to agree to have DNA tests on the four children of our marriage.”

The judge insisted that he would not stop taking care of the first wife’s kids following the revelation, adding that the first two are already university graduates.

“For Celia and her boyfriend or boyfriends, we leave them to their consciences,” he added.


Paternity fraud

Smart DNA, a DNA testing and diagnostic centre in Lagos, revealed in a study that one in every four tested men who visited the clinic turned out not to be the biological father of their child(ren).

The comprehensive data analysis of all relationship DNA tests conducted at its facility between July 1, 2022 and June 30, 2023, on thousands of users, provides an unprecedented insight into the DNA testing trends across Nigeria.

Findings of the report showed that Lagos accounted for the highest percentage of tests, with 82.89 per cent of the total, followed by Oyo (3.29 per cent), Ogun (3.07 per cent), FCT (2.63 per cent), and Rivers (2.41 per cent).

The report showed heavy concentration in Lagos, particularly the Mainland (68.14 per cent) compared to the Island (31.86 per cent). This may be due to the location of Smart DNA’s office, the purchasing power of the residents, and the high population density of the state.

On the test type, the report disclosed that the majority of tests (89.10 per cent) were conducted for what they termed, ‘peace of mind’, followed by ‘immigration’ (8.97 per cent), and ‘legal’ (0.64 per cent).

Individuals primarily seek DNA testing to confirm biological relationships for personal reasons rather than legal or immigration purposes, the report stated.

On the gender of individuals seeking tests, the report stated that men were the predominant initiators of contact, making up 86.44 per cent of the first contacts, compared to 13.56 per cent made by women.

This further indicates that men are more likely to have doubts about paternity or other relationships and take the initiative to seek testing.

The report also disclosed that positive results, indicating that the man tested was the biological father of the child, accounted for 73.88 per cent of tests, while negative results made up 26.12 per cent.

“This suggests that in the majority of cases, the men seeking testing are indeed the biological fathers, but in more than one in four cases, the tested father is not the biological father of the child,” the report added.

More tests were conducted on male children (56.62 per cent) compared to female children (43.38 per cent), the report showed, as it disclosed that this might suggest a cultural preference for confirming the paternity of male offspring, although further research would be needed to confirm this hypothesis.

“The most tests were conducted on children aged zero to five years (58.02 per cent), followed by the six to 12 age group (25.95 per cent). This indicates that paternity tests are mostly done on children when they are younger rather than when they get older. Men between the ages of 31 and 40 (40 per cent) and 41 and 50 (23 per cent) conducted the most DNA tests. This age group is likely to have young children and may be in a financial position to afford the testing,” it added.

Another study conducted by the Nigerian Institute of Medical Research found that 27 per cent of paternity tests conducted in Lagos State revealed cases of misattributed paternity. These findings indicate a distressing pattern of deceit affecting countless Nigerian families.

A senior geneticist with the DNA Centre for Paternity Test, Allen Avenue in Ikeja, Lagos, Abiodun Salami, revealed in an interview with Premium Times that from his experience, most firstborns were not fathered by the husbands at home.

According to him, this is because the ladies had a prior relationship before getting married.

“Most times, they continue with that relationship and don’t leave it even after marriage,” he added.

As of 2021, the geneticist said he used to do an average of 100 DNA tests in a month, but now handles as many as 400 cases monthly.

He added, “We have discovered that almost 60 per cent of the tests that people come to do are negative. Six out of every 10 paternity tests turn out negative.

“Statistically, in DNA paternity testing, most times, in Nigeria, we see that six out of every 10 children might not be fathered by their biological father.”

Another cell biologist and geneticist based in Lagos, who did not want to be named because of her company’s policies, corroborated Salami’s claim.

“At our clinic, we have an almost 70 per cent negativity rate. This means that if 10 men walk into our facility to get a test done, seven come out with a negative result. There is a lot of promiscuity and paternity fraud going on, and only an increased testing capacity will reveal that,” he stated.

Another geneticist based in the United Kingdom, Dr Sola Dele, said from the samples received from most Nigerian centres that send them for a second and foreign opinion, between four and five turn out negative.

“I never thought the issue was that bad until during COVID-19 when we started getting a lot of samples from centres in Nigeria. After they might have conducted the necessary tests and shown the clients the results, they (clients) would reject the results and seek foreign and more expensive opinions to tell them the same thing,” Dele said.

She advised fathers, who are having any doubts about their child’s paternity, to walk into any DNA centre with the child and have it done.

“It is your right to know the child you are raising is yours. You can then decide to raise the child even after finding out the truth, but it is in your right to know,” she added.

Despite the prevalence of stories related to paternity fraud, there is currently no Nigerian law that criminalises it. However, falsely naming a non-biological father on a public document like a birth certificate constitutes a criminal offence. In such cases, the woman involved may potentially face charges for criminal deceit or perjury arising from paternity proceedings.

A legal practitioner, Maryam Bello, in an article titled, ‘Addressing Paternity Fraud: Legal Aspects in Nigeria’, noted that in Nigerian law, children born within a valid marriage were presumed to be legitimate, with parents assuming responsibility for their care.

She wrote, “Section 165 of the Evidence Act, 2011 reinforces this presumption, granting legitimacy to children born during a valid marriage or within 280 days after its dissolution. This presumption can only be challenged through proper legal procedures, including the use of scientific methods like DNA testing, with valid evidence required to refute it.”

Regarding the use of DNA tests to determine paternity, Nigerian law recognises it, but it must adhere to specific standards outlined in sections 63 to 67 of the Child Rights Act, 2003, consistent with laws in 24 other states.

“These provisions govern the conditions and procedures for conducting scientific tests to establish parentage,” she added.

The Federal Government has said contrary to the claim by the World Bank that government is still paying subsidy on petrol, the era of petrol subsidy is “gone for good”.

Speaking in an interview on Channels TV on Thursday morning, Minister of Information and National Orientation, Mohammed Idris, said President Bola Tinubu made it clear from his first day in office that his government would not sustain the payment of subsidy on petrol.

The minister said the subsidy removal had translated to increased revenue accruing to the federation account.

The World Bank hinted on Wednesday that current fuel prices in Nigeria were not cost-reflective and that the Federal Government might still be paying subsidy on petrol.

The bank said Nigerians should be paying about N750 per litre as against the current price of N650 in some parts of the country.

The World Bank’s lead economist for Nigeria, Alex Sienaert, during his presentation of the Nigeria Development Update (NDU), December 2023 Edition in Abuja on Wednesday, insisted that there was still subsidy on petrol.

He stated, “It does seem like petrol prices are not fully adjusting to market conditions. So, that hints at the partial return of the subsidy if we estimate what is the cost reflective of the retail PMS price of the would-be and assume that importation is done at the official FX rate.

“Of course, the liberalisation is happening with the parallel rates, which is the main supplier, the price would be even higher. These are just estimates to give you a sense of what cost-reflective pricing most likely looks like.

“We think the price of petrol should be around N750 per litre more than the N650 per litre currently paid by Nigerians.”

But speaking on the issue, the minister stressed that government was no longer paying any subsidy on petrol.

He stated, “Subsidy is gone, and the President told Nigerians from his first day in office that there won’t be subsidy (on petrol). It is because subsidy has gone that we have so much money available for government to do so many things. Of course, it’s never enough, but fuel subsidy is gone and it’s gone for good.

“There are instances where government needs to come in to see that things don’t go so bad. That’s the responsibility of government. Every rule will also have its self-adjusting mechanism, but I can assure Nigerians that subsidy is gone.

“If you look at the monies accruing to the federation account and the kind of money the states are receiving, you would know that everybody desires that subsidy should go. What do we do with that subsidy, I think, is the next question. We need to scrutinise that, so that Nigerians would have the benefit of the subsidy that has been taken away. Subsidy is gone.”

Daily Trust had reported that petrol was already selling at around N690 in Kano and Sokoto states, and over N700 per litre in far North-Eastern states of Yobe and Borno.

With the current prices, many Nigerians have been forced to abandon their vehicles even as the cost of basic items has skyrocketed and the value of citizens’ income eroded by inflation.

Many observers have already condemned the World Bank’s prescription and advised the Federal Government to look for a home-grown solution to the prevailing economic challenges in the country.

Daily Trust had reported in September that despite the repeated assurances by President Bola Tinubu that the petrol subsidy regime was gone, the government paid N169.4bn as subsidy in August to keep the pump price at N620 per litre.