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 Politics › CBN Directs Banks To Pay Redesigned Naira Notes Over-the-counter by myoddsng(op): 12:43am On Feb 03, 2023 |
The Central Bank of Nigeria (CBN) has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000. Director Corporate Communication, CBN, Osita Nwanisobi disclosed this in a statement adding that the apex bank will collaborate with the Nigeria Police, Federal Inland Revenue Service (FIRS), the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) to prosecute abuses and sellers of the naira. He said: “The Central Bank of Nigeria (CBN) has observed, with grave concern, the activities of persons who sell the newly redesigned banknotes and those who flagrantly abuse the legal tender by hurling wads of Naira notes in the air and stamping on the currency at social functions. “We have equally noticed the queues at Automated Teller Machines (ATMs) across the country and an upward trend in the cases of people stocking and aggregating the newly introduced banknotes they serially obtain from ATMs for reasons best known to them. Also worrisome are the reported cases of unregistered persons and non-bank officials swapping banknotes for members of the public, purportedly on behalf of the CBN. “We wish to state unequivocally that, contrary to the practice of these unpatriotic persons, it is unlawful to sell the Naira, hurl (spray), or stamp on the currency under any circumstance whatsoever. For the avoidance of doubt, Section 21(3) of the Central Bank of Nigeria Act 2007 (As amended) stipulates that “spraying of, dancing or matching on the Naira or any note issued by the Bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the Naira or such note and shall be punishable under the law by fines or imprisonment or both.” “Similarly, Section 21(4) states that “It shall also be an offence punishable under Sub-section (1) of this section for any person to hawk, sell or otherwise trade in the Naira notes, coins or any other note issued by the Bank.” “Accordingly, the Central Bank of Nigeria (CBN) is collaborating with the Nigeria Police, Federal Inland Revenue Service (FIRS), the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) to address the unpatriotic practice. “We, therefore, warn Nigerians, particularly those at social functions such as birthdays, weddings and funerals, to desist from disrespecting the Naira or risk being arrested by law enforcement agencies. “While reiterating our commitment to Nigerians to ensure the effective distribution of the newly introduced Naira banknotes, we urge them to exercise patience as the CBN is working assiduously to address the challenge of queues at ATMs. “In line with this resolve, the Governor, Mr. Godwin Emefiele, has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000. “We also admonish members of the public to embrace and adopt other payment channels for their transactions. The Naira is our legal tender and symbol of national pride. Therefore, let us respect it and handle it with care” visit www.naijabet.com now
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| Politics › El-rufai: Elements In Aso Villa Want APC To Lose Elections by myoddsng(op): 7:06am On Feb 02, 2023 |
Governor Nasir el-Rufai of Kaduna State said yesterday that some elements in the Presidency were working assiduously to ensure the failure of the All Progressives Congress, APC, in ths month’s presidential elections. He also said the same forces were responsible for the current crisis created by the petrol subsidy, which is making the country waste over N6 trillion annually. But the Federal Government in a swift reaction yesterday, said it is not aware of any element working against the ruling party, insisting that President Muhammadu Buhari is committed to ensuring that the forthcoming elections are free, fair and credible and wil not favour any presidential candidate. Who will be your firstlady come the 2023 Presidential election ?.Visit naijabet.com to see more But speaking in an interview on Channels Television’s breakfast programme, Sunrise Daily, Governor el-Rufai said most of those working against APC’s chances in the presidential election are not even members of the party. He said they are embittered because their preferred candidate didn’t win the party’s presidential ticket. The governor said: “Nigerians should stick with the APC because they should see what we have been able to achieve in the last eight years in very difficult circumstances. ’We were sabotaged on subsidy’ “This fuel subsidy requires a national conversation. It is not a partisan thing, it has been going on for years, we tried to solve it under the Buhari administration but we were sabotaged and we are where we are. “To be honest, we have had the conversation at the level of the National Economic Council, NEC, chaired by the vice president and we all agreed it should go, it was Buhari himself that took the decision that this subsidy will hurt the poor and he won’t do it. “That is why our presidential candidate in the same party is saying he will remove it. It is not a party position but the personal position of the president. “For the past three to four years, I have stopped trying to understand how the Federal Government works. I just focus on trying to make my state work because that is my primary responsibility. ‘We didn’t promise subsidy, Naira re-design’ “There are some things we sit and agreed with the president to get done and it doesn’t get done. And those that refused to get it done don’t get punished. “If you were at our party, we didn’t promise that we were going to keep fuel subsidy or redesign the currency. It isn’t in our manifesto. You need to separate the personal decisions of some people in the villa from the manifesto of the party. It is important to understand that. “Most of the people in the villa are not members of our party. I believe there are elements in the villa that want us to lose the election because they didn’t have their way. “They had their candidates, and their candidates didn’t win the primaries and I think they are still trying to get us to lose the election and they are hiding behind the president’s desire to do what he thinks is right.” Speaking further on fuel subsidy, Governor el-Rufai said: “The problem is not the APC government but the people of Nigeria who are not willing to face the truth. People are paying N300 to N500 per litre in parts of the country and they have to queue for hours to get fuel because of this unsustainable and broken down subsidy regime that we have chosen to maintain for the past 50 years. It has not worked. “It is not an APC problem, it is a Nigeria problem because today, if President Buhari said remove subsidy, the NLC will be out on the streets protesting. We have had that anytime the price slightly increases. ‘Next govt must remove subsidy, or else…’ “It is a national conversation. The presidential candidates, including Atiku Abubakar, Peter Obi, and Bola Tinubu have said they will remove fuel subsidy. They have to, unless the country will go bankrupt. The next government must remove it, otherwise the country will collapse. “This fuel subsidy requires a national conversation. It is not a partisan thing, it has been going on for years, we tried to solve it under the Buhari administration but we were sabotaged and we are where we are. “To be honest, we have had the conversation at the level of the National Economic Council chaired by the vice president and we all agreed it should go. It was Buhari himself that took the decision that this subsidy will hurt the poor and he won’t do it. “That is why our presidential candidate in the same party is saying he will remove it. It is not a party position but the personal position of the president. “If you were at our party, we didn’t promise that we were going to keep the fuel subsidy or redesign the currency. It isn’t in our manifesto. You need to separate the personal decisions of some people in the villa from the manifesto of the party. It is important to understand that. ‘’These elements are hiding behind the President’s desire to do what he thinks is right. I will give two examples: this petroleum subsidy, which is costing the country trillions of naira, was something that we all agreed would be removed. “In fact, I had a discussion with the President and showed him why it had to go, because how can you have a capital budget of N200 billion for federal roads and then spend N2 trillion on petroleum subsidy? “This was a conversation I had with the President in 2021 when the subsidy thing started rising. He was convinced. We left. It changed. Everyone in the government agreed, and it changed. ‘Don’t blame CBN gov on Naira re-design’ “The second example I will give is this currency redesign. You have to understand the President. People are blaming the governor of the Central Bank for the currency redesign, but No. ‘’You have to go back and look at the first outing of Buhari as military head of state. He did this; the Buhari-Idiagbon regime changed our currency and did it in secrecy, with a view to catching those that are stashing away illicit funds. “It is a very good intention. The President has his right but doing it at this time within the allotted time does not make any political or economic sense.” Denies knowledge of presidency official working against APC Replying the Kaduna governor yesterday, the Federal Government denied knowledge of Presidency officials working against the APC in the forthcoming presidential election, insisting that President Muhammadu Buhari is committed to ensuring that the forthcoming elections in the country are free, fair and credible and will not favour any presidential candidate. The government also dismissed Transparency International’s, TI, report that placed Nigeria on 150 on the Corruption Perception Index ranking from the previous 154 out of 180 countries. The Minister of Information and Culture, Alhaji Lai Mohammed, while fielding questions from State House correspondents at the end of the Federal Executive Council, FEC, meeting on the claims by Governor el-Rufai, maintained that President Buhari, being the main occupant of the presidential villa, had stressed severally that he wanted his administration to deliver a credible exercise. The Minister said if there are elements within the seat of power working against the victory of the ruling party, it had not been brought officially to his notice. He said: “On a more serious note, one thing I can assure you is that no matter what, this administration is focused, determined to ensure free and fair elections. “But I think with this administration, the most important person is Mr President, and I think he has shown by words and deeds that he is committed to a free, fair and credible election. And fair, free, credible elections actually mean not favouring anybody or disadvantaging anybody. “Everywhere he goes, he makes that very clear, even as recently as last Friday when he was in Daura (Katsina State), he said the same thing. If there’s anybody working against a candidate, we don’t know officially.” Also responding to the latest ranking of Nigeria dropping from 154 to 150 out of 180 countries by the Transparency International on Corruption Perception Index ranking, the Information Minister said maybe TI was using a template that was oblivious of the war against corruption in the country. He said: “We are not fighting corruption because we want to impress Transparency International or any organization whatsoever. “We’re fighting corruption because we believe if we do not fight corruption, there’ll be no growth, either in terms of the economy or even political. Therefore, what we do and what we’re putting in place to fight corruption is not because we want to be rated by anybody. “If, for instance, what we’re doing catches the attention of Transparency International and they improve and give us better marks, we’ll go. However, I can assure you that we do not know what template TI is using. “Whatever template they’re using is clearly oblivious of what this administration is doing, to fight corruption. “Corruption fighting is not just by how many people have you arrested? How many people have you tried? How many people have you convicted? Of course, even in that respect, we have a very impressive record. Is it the EFCC or is it the ICPC? “You see, if you look at what we’re doing, even to make corrupt practices, almost impossible or difficult. ‘’I’ll just give you two examples. For instance, this administration, when funds were returned from the Abacha loot and other funds were recovered from the USA, the UK and Europe, what this administration did was that rather than pay these funds into the treasury and face the possibility of it being stolen or relooted, the administration decided that we will put this money into a separate account and ask the National Sovereign Investment Fund to manage these funds, and we used the money for specific projects. “Some of our legacy projects today actually are being financed from our money that have been stolen, which were returned and which we have kept. To me, this is one example of how to fight corruption, an example of how to ensure that people do not steal what has been recovered again. “I make bold to say that we have been more proactive in fighting corruption and people are not willing to see what we have put in place in fighting corruption. And that’s why I gave that example of putting money aside and how those funds are being used. “Again, the courage of this administration even to expose high ranking officials of the administration who have run foul of the law, is evidence of our determination and courage to fight corruption. “So, we are not really worried or bothered about rating of the TI, because we know that everything we do is to ensure that we fight corruption the best way we know how to do. “Like I said, if TI is not seeing this, then again, I think they have to change their template. But again, we’re not fighting corruption to impress them.”
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| Politics › Elections Logistics In Danger With Fuel Scarcity — INEC by myoddsng(op): 11:36am On Feb 01, 2023 |
FOLLOWING the continued scarcity of fuel across the country, the Independent National Electoral Commission, INEC, yesterday, raised the alarm that the development could hamper election day logistics. While the Nigerian National Petroleum Company, NNPC, Limited assured the electoral commission of an adequate supply of fuel during the election, the three major presidential candidates also expressed hope that the scarcity would be resolved before the polls. Speaking at a consultative meeting with officials of the National Union of Road Transport Workers, NURTW, INEC Chairman, Prof. Mahmood Yakubu, said the meeting was to put finishing touches to the implementation of the Memorandum of Understanding, MoU, signed between the commission and the union on December 20, 2022. He noted that the issue of logistics had been a perennial problem in election administration in Nigeria. His words: “The commission shares your concern about the fuel situation in the country and its impact on transportation on election day. The truth is that our arrangements may be negatively affected by the non-availability of products. “For this reason, the commission will this afternoon (yesterday) meet with the Nigerian National Petroleum Company Limited, NNPCL, to look into ways to ameliorate the situation.“I wish to assure Nigerians that we will continue to engage every national institution for the success of the 2023 general election. INEC includes MWUN for maritime transportation “That is why for three electoral cycles now, INEC has collaborated with the road transport unions to address the problem. For the 2023 General Elections, the Commission has included the Marine Workers’ Union of Nigeria, MWUN, for efficient maritime transportation. “The time has come to stop all excuses and provide effective logistics to ensure hitch-free logistics on Election Day. Nigerians should not wait for the arrival of personnel and materials at the polling units. Rather, we should be there waiting for the arrival of voters. We believe that this is achievable. Recent elections have shown that by working in partnership with the unions and other stakeholders, we can achieve the objective. This is a patriotic duty and we should make the necessary sacrifice in the national interest. “The commission is aware that this is an enormous task. An election is the largest deployment a nation periodically undertakes and mobilisation of vehicles for election is a large and complex exercise. However, this comes only once in four years. ‘’What is critical here is planning. We have presented to the union the number and specifications of the vehicles required for the election. We have also indicated to you the locations where the vehicles are needed. “Happily, your members are spread across the country. Therefore, vehicles conveying personnel and materials will not travel long distances. All movements should be within a state and preferably within local government areas.’’ NNPC assures INEC of adequate supply After a separate meeting with the INEC boss, the NNPCL, on its part, assured INEC of adequate fuel supply, noting that the current scarcity would not affect election day logistics. The Group Chief Executive Officer of NNPC Limited, Mele Kyari, who gave the assurance after the troubleshooting visit by the INEC Chairman, Prof. Yakubu, said: “We know that logistics is a major component of electoral duties. “NNPC has always supported INEC, not in this direct form, in making sure that fuel is made available to all vehicles that are involved in the electoral process. “Needless to say that there was no formal framework for that, and there were no even formal requests for this. All the same, we are always conscious of the necessity to provide support to INEC whenever elections take place. “Today’s very different, Mr Chairman, it’s not just an honour to NNPC, it’s also a challenge for us, to come into the equation in making sure that we have a stable political system in our country and we’ll be happy to contribute to this. “Having said this, we are the largest downstream company in the country today. Six months ago, it was not so but today, we have acquired huge assets since our incorporation into a limited liability company and we have spread across the country. ‘’That is not to say that we are in every city and every town, it is possible that there may be some locations where we may not be present. “We will work with your logistics team to identify those areas where we may not have a presence so that we can bring in other marketing companies into the conversation so that the products are made available to all the 100,000 vehicles you have indicated. “There will be no difficulty doing this, Mr Chairman, we have a presence, we are everywhere. But where we are not, we will provide commercial conversation between the commission and other marketing companies so that when you need this product, you will have it. “Also in addition to this, we are the only company that has floating mega stations in the country. We will also look at this and see how we can make it available for marine operations in the riverine areas of our country.’’ Earlier, Prof. Yakubu noted that the commission is mobilizing about 100,000 vehicles and 4,000 boats for the deployment of personnel and materials to 176,846 polling units spread across 8,809 registration areas (or electoral Wards) in 774 local government areas nationwide. While he conceded that NNPC had taken steps to ease the current situation in earnest, Yakubu proposed the use of NNPC land and floating mega stations nationwide to service INEC’s election duty vehicles and boats. His words: “We will bear the cost of the products. By doing so, there will be a guaranteed supply for elections. “We want a special arrangement with other marketers in locations where the NNPC may not have dedicated stations; and, consider other options to support our seamless operations on election day.” Things‘ll change before polls —Tinubu’s spokesperson Reacting to the concerns raised by INEC, the All Progressives Congress, APC, Presidential Campaign Council, PCC, expressed optimism that the situation would change for the better before the polls. Chief Spokesperson of the Council, Mr Festus Keyamo, SAN, in a chat with Vanguard, said he had engaged with the top hierarchy of the NNPCL on the issue and had extracted commitment that the matter would be reversed. Keyamo, who is the Minister of State, Labour and Employment, said: “I have had personal interactions with the top hierarchy of NNPC and I am confident the situation will ease significantly before election day.” INEC should double-check transport unions — LP Also reacting, the Labour Party, LP, yesterday, urged the electoral body to make arrangements to properly fund transporters on election duty. The party noted that while it identified concerns raised by the election management body over challenges with the supply of petroleum products and how this might affect the elections, its fears laid more with the open allegiance some transport unions had with political parties. Chief spokesman of the Labour Party Presidential Campaign Council, Dr Yunusa Tanko, said: “We will advise INEC to seek more funds and properly fund transporters engaged for Election Duty. “I’m in Gombe at the moment, the product is available, the only thing is that the cost is exorbitant. A litre of petrol here is between N300 and N320. “We will advise INEC to make money available to properly fund transporters on election duty. “Our only worry is that in some of the states, the transport unions are under the direct control of political parties and godfathers who are known. “INEC must be extra vigilant to ensure that the allegiance to these godfathers does not override national interest.” It’ll be brought under control — PDP Campaign On its part, the presidential candidate of the Peoples Democratic Party, PDP, Alhaji Atiku Abubakar, expressed confidence that the scarcity of petroleum products would be brought under control before the presidential election. Atiku, who spoke through his Special Assistant on Public Communications, Mr Phrank Shaibu, hinged his confidence on the commitment given by President Muhamadu Buhari to do everything possible to ensure a free, fair and credible election.He said: “We believe that with the commitment of President Muhammadu Buhari to the conduct of a free, fair and credible election, the fuel scarcity will be brought under control before the elections. “This is because allowing the fuel crisis to persist will be antithetical to the commitment of Mr President to ensure the conduct of credible polls.”
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| Politics › CBN Will Continue To Redeem Old Naira Notes After Deadline, Emefiele Tells Reps by myoddsng(op): 6:30pm On Jan 31, 2023 |
Governor of the Central Bank of Nigeria, CBN, Mr Godwin Emefiele, has assured that the value of old Naira notes of 200, 500 and 1,000 will still be redeemed even after they have ceased to be legal tender by February 10 deadline. He said the redemption was in tandem with the law, precisely Section 20 (3) of CBN act, noting the essence was to mop up the old notes in circulation. The governor spoke when he appeared before the House of Representatives ad hoc committee on the cashless policy of the apex bank on Tuesday. He said the CBN stood side by side with the House on the position of the law. Expectedly, the assurance doused the heightened tension amongst the members of the Committee as they heaved sighs of relief and beaming smiles. In his swift reaction, the chairman of the committee, Ado Doguwa who was elated by the remarks thanked Emefiele, saying that had he given the assurance earlier, there wouldn’t have been any need for the meeting. More details later.
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| Politics › Fuel Scarcity Endangers Our Plans —INEC by myoddsng(op): 1:20pm On Jan 31, 2023 |
The Independent National Electoral Commission, INEC, has expressed concerns about the continued scarcity of fuel across the country, saying the development could hamper election day logistics. INEC Chairman, Prof. Mahmood Yakubu, disclosed this on Tuesday in Abuja at a consultative meeting with the National Union of Road Transport Workers, NURTW. Yakubu said the Commission would, later on Tuesday, meet with the management Nigerian National Petroleum Company Limited, NNPCL, to look into ways of ameliorating the situation. “The Commission shares your concern about the fuel situation in the country and its impact on transportation on election day. The truth is that our arrangements may be negatively affected by the non-availability of products. “For this reason, the Commission will this afternoon meet with the Nigerian National Petroleum Company Limited (NNPCL) to look into ways to ameliorate the situation. “I wish to assure Nigerians that we will continue to engage every national institution for the success of the 2023 General Election,” said Yakubu. He said the meeting with the NURTW officials was to put finishing touches to the implementation of the Memorandum of Understanding, MoU, signed between the Commission and the Union on 20th December 2022. It would also see to conclusion on the modalities for the certification of vehicles by the Federal Road Safety Corps, FRSC, in the light of the emphasis the commission places on the safety of election personnel and materials. According to him, the issue of logistics has been a perennial problem in election administration in Nigeria. “That is why for three electoral cycles now, INEC has collaborated with the road transport unions to address the problem. “For the 2023 general election, the Commission has included the Marine Workers’ Union of Nigeria, MWUN, for efficient maritime transportation. “The time has come to stop all excuses and provide effective logistics to ensure hitch-free logistics on election day.”
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| Business › New Currency Hoarding: We Have To Go Into Banks’ Strong Rooms – CBN by myoddsng(op): 12:31am On Jan 31, 2023 |
CENTRAL Bank of Nigeria, CBN, has said it would have to go into strong rooms of commercial banks to ascertain possible hoarding and other unhealthy conducts among challenges making it difficult for people to access the new currency notes. Maxwell Okafor, Branch Controller, CBN in Port Harcourt, Rivers state, gave the explanation yesterday over the apex bank’s ongoing direct cash swap for residents in Rivers, especially those without bank accounts. Okafor who assured that the direct swap would last till the deadline on naira exchange, said, “The sincere truth is that the situation is not smooth. Many of the banks are making the process too cumbersome. “For us to enter the bank today to assist these POS operators, it took a lot of pains. I wonder if Nigerians goes through this pains when we are here, what happens when we are not here. “For hoarding, we will need further exercise to establish that. It means we have to go into their strong rooms, check how they disbursed what they have, ATM, individuals before we can establish that. But the process is slow and we are pleading with banks to make the process easier.” On the direct cash swap in Rivers, he said, “Tomorrow, we are going to Buguma, Omoku, Ahoada, Oyigbo, Onne, Eleme. So we will gradually cover all the hinterland of the state to make sure we exchange money directly for persons, especially those who do not have bank account. “We are going to cover all local government areas in the state. It is unfortunate, anybody not able to exchange his own before the deadline will loose his money, but we are augmenting efforts of the banks to make sure as much as possible, everybody has opportunity to exchange the old naira.”
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| Politics › DSS Intercepts New Naira Notes Sellers, Fingers Points Commercial Bank Officials by myoddsng(op): 1:02pm On Jan 30, 2023 |
The Department of State Services, DSS, has arrested some members of an organised syndicate selling the new Naira notes in parts of the country. Although the DSS did not disclose the names and locations of the suspects, the agency said in a statement on Monday that some commercial bank officials were aiding and abetting the act. The statement signed by the Public Relations Officer of the DSS, Dr Peter Afunanya, warned that the Service would go after those involved in the malfeasance. The statement said, “The Department of State Services (DSS) hereby informs the public that it has intercepted some members of organised syndicates involved in the sale of the newly redesigned naira notes. In the course of its operations, in this regard in parts of the country, it was also established that some Commercial Bank officials are aiding the economic malfeasance. “Consequently, the Service warns the currency racketeers to desist from this ignoble act. Appropriate regulatory authorities are, in this same vein, urged to step up monitoring and supervisory activities to expeditiously address emerging trends. “It should be noted that the Service has ordered its Commands and Formations to further ensure that all persons and groups engaged in the illegal sale of the notes are identified. Therefore, anyone with useful information relating to this is encouraged to pass the same to the relevant authorities”.
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| Politics › Naira Notes: Buhari, Reps Heading For Clash Over Cbn’s 10-day Extension by myoddsng(op): 11:52am On Jan 30, 2023 |
The President Muhammadu Buhari and the House of Representatives are on collision course over the deadline for the withdrawal of old naira notes. The CBN had before now, given January 31 deadline for the exchange of old naira notes of N200, N500 and N1000 with the new ones. But the President yesterday, on the request of the Central Bank of Nigeria, CBN approved a 10-day extension of the deadline for the withdrawal of old naira notes to February 10, 2023. A seven-day grace period, beginning on February 10 to February 17,2023, was also approved to enable Nigerians deposit their old notes at the CBN after the February deadline when the old currency would cease to be recognised as legal tender. But the House of Representatives in a swift reaction yesterday, rejected the extension, insisting that the CBN complied with its resolution that the deadline be extended by six months. Buhari approves deadline – Emefiele The 10-days extension of the deadline was approval was given by the President after meeting with the apex bank’s governor, Mr. Godwin Emefiele, in Buhari’s country home in Daura, Katsina State on Sunday. The President consented to Emefiele”s request, urging more time, discretion and order to enable Nigerians successfully change their currencies to the redesigned notes, and reduce the risk of loss, especially among the underserved in rural areas. Emefiele briefed correspondents after the meeting, revealing that 75 per cent of the N2.7 trillion held outside the banking system had been recovered, with evident drop in the rate of inflation, more stability of foreign exchange rates, and noticeable impact on security, especially in banditry and kidnapping figures. He said: “First, I will like to thank Mr. President for giving the CBN the approval to embark on this ambitious programme because, like I said, in the past, the CBN has not had the opportunity to embark on such currency redesign programme in last 19 years. “Let me emphasize that only an incorruptible leader of the President’s stature can give such approval to the CBN.’’ The CBN governor, who noted that currency redesigns were supposed to be every five to eight years, said: “Our aim is mainly to make monetary policy decisions more efficacious and as you can see, we have started to see inflation trending downwards and exchange rates relatively stable. “Secondly, we aim to support the efforts of our security agencies in combating banditry and ransom taking in Nigeria through this programme and we see that the military is making good progress in this important task. “We are happy that so far, the exercise has achieved a success rate of over 75 per cent of the N2.7 trillion held outside the banking system. Nigerians in the rural areas, villages, the aged and vulnerable have had the opportunity to swap their old notes; leveraging the Agent Naira Swap initiative as well as the CBN Senior staff nationwide sensitization team exercise. “Aside from those holding illicit/stolen Naira in their homes for speculative purposes, we do aim to give all Nigerians that have Naira legitimately earned and trapped the opportunity to deposit their legitimately trapped monies at the CBN for exchange. “Based on the foregoing, we have sought and obtained Mr President’s approval for the following: “10-day extension of the deadline from January 31, 2023, to February 10, 2023; to swap Naira legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside the CBN losses their Legal tender Status. “Our CBN staff currently on mass mobilization and monitoring together with officials of the EFCC and ICPC will work together to achieve these objectives. “A 7-day grace period, beginning on February 10 to February 17, 2023, in compliance with Sections 20(3) and 22 of the CBN Act allowing Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender status. “We, therefore, appeal to all Nigerians to work with the CBN to ensure a hitch-free implementation of this very important process for program.” N1.9trn collected The head of the apex financial regulator said available data had shown that currency-in- circulation in 2015 was only N1.4 trillion, while as at October 2022, currency in circulation had risen to N3.23 trillion, out of which only N500 billion was within the banking industry. He said N2.7 trillion was held permanently in people’s homes. “Ordinarily, when CBN releases currency into circulation, it is meant to be used and after effluxion of time, it returns to the CBN thereby keeping the volume of currency in circulation under the firm control of the CBN. “So far and since commencement of this programme, we have collected about N1.9 trillion; leaving us with about N900 billion (N500 billion + N1.9 trillion),’’ the CBN governor said. According to him, to achieve effective distribution of the new currency, the CBN has taken some steps. He said several meetings were held with Deposit Money Banks who were provided with guidance Notes on processes they must adopt in the collection of the old notes and distribution of the new notes, including directives that new notes should be loaded in ATMs nationwide for equitable and transparent mechanism. The CBN governor explained that the regulatory body worked with the media, (print and broadcast), and the National Orientation Agency for sensitization of citizens, while 30,000 super agents were deployed nationwide, particularly in rural areas, regions underserved by banks and to reach the weak and vulnerable for currency swap. To ensure compliance, Emefiele said staff members, mostly assistant directors, deputy directors and directors in Abuja were sent to all CBN branches nationwide to join the mass mobilization campaign and monitoring programmes. EFCC, ICPC officials deployed in banks The CBN boss also said operatives of anti-graft agencies, such as the Economic and Financial Crimes Commission, EFCC, and Independent Corruption Practices and other Related Offences Commission, ICPC had been deployed to CBN branches and banks’ branches across the country to monitor the excise. His words: “We have received some reports of some breaches by some banks’ branches; we have agreed with the executive chairman of EFCC and ICPC to assist us by sending their staff to all CBN and DMBs’ branches nationwide to join in monitoring the implication of these guidelines.’’ Reps kicks, say law must be duly followed Recall that last week the House via a resolution, demanded an extension of the deadline by six months. The House further constituted an adhoc committee, headed by the Leader of the House, Ado Doguwa, to interface with the governor of the CBN, Godwin Emefiele, and the Chief Executive Officers of commercial banks on the scarcity of the notes. In a statement rejecting the 10 days extension of the deadline approved by President Buhari yesterday, Doguwa said: “The 10-day extension for the exchange of the old naira notes is not the solution. We as a legislative committee with a constitutional mandate of the House, would only accept clear compliance with section 20 sub 3, 4, and 5 of the CBN act and nothing more. “Nigeria as a developing economy and a nascent democracy must respect the principle of the rule of law.” Doguwa said under his chairmanship, the committee would continue its work until it got the demands of Nigerians addressed in accordance with the laws of the land. Describing the extension as a mere political gimmick to further deceive Nigerians and worsen their economic and social livelihood, Doguwa said the policy was capable of frustrating the forthcoming general elections, insisting that the House would issue a warrant of arrest on the CBN governor, if he failed to appear before the committee, which is expected to wind off its activities tomorrow. “Security agencies and their operations, especially at the state level, are generally funded through cash advances and direct table payments of allowances to operatives during elections,” he said. Minority caucus hails apex bank over deadline extension In a related development, the minority caucus of the House applauded the CBN for listening to Nigerians and extending the deadline for swapping of the old naira notes for new ones by 10 days. Speaking through a statement signed by the minority leader, Ndudi Elumelu, the caucus also hailed President Buhari for heeding the advice of the presidential candidate of People’s Democratic Party, PDP, Alhaji Atiku Abubakar. “The 10 days extension of deadline from January 31, 2023 to February 10, 2023 is a welcome decision to ease the suffering as well as social and economic discomfort being faced by many Nigerians in accessing the new naira notes within the earlier stipulated deadline. “As lawmakers and representatives of the people, our caucus commends the CBN for being considerate towards the well-being of Nigerians; which is the essence of democratic governance all over the world. “Our caucus applauds the presidential candidate of Peoples Democratic Party, PDP, Atiku Abubakar, for his intervention in persuading President Muhammadu Buhari and CBN to extend the earlier deadline in the national interest. “Atiku Abubakar’s patriotic intervention at this time further shows him as a compassionate leader who is always concerned and committed towards the wellbeing of Nigerians. He has again demonstrated his experience, capacity, and competence to get the system to work in the interest of Nigerians at a very critical time. “Our caucus calls on Nigerians not to rest on their oars but take maximum advantage of the 10 days extension to swap their old naira notes for the new ones. “The minority caucus also urges the CBN to remain focused and intensify its sensitization efforts, while putting every measure in place to assist Nigerians, especially those in the rural areas, to access the new naira notes,” the statement read Old Naira notes forced on customers Meanwhile, Financial Vanguard findings from many banks in Lagos and Abuja last weekend show that the banks are still disbursing the old notes. They have also claimed they have not received enough new notes to meet customers’ demand. In Abuja and Lagos, massive crowd of customers seeking to carry out last minute transactions (deposits and withdrawals) in order not to be caught in the trap besieged the banking halls across the various banks. Also, people who, hitherto, were not in the formal financial system, queued to open bank accounts to enable them to deposit their old notes. As part of the process to replace the old notes, the CBN had directed that cash can only be accepted from customers with bank accounts and full KYC (Know Your Customer) requirements, while cash must only be deposited into the customer’s account. Financial Vanguard’s checks in some banks showed that the banks disbursed only old notes across the counter. Further checks revealed that most Automated Tella Machines, ATMs, of all the banks visited were not dispensing, as they were not loaded with cash. The situation further led to increase in the number of customers in the banking halls who wanted to make ATM withdrawal but couldn’t do so. Banks in Abuja, the nation’s capital city had a hectic time trying to meet the ATM needs of their customers at the weekend. A banker told our correspondents that they could not provide enough new notes to meet customers’ demand because they didn’t have. Customers’ frustrations, threats Most of the customers left the ATMs frustrated that they could not withdraw any new note or enough to meet their needs. They also expressed frustrations as they had to queue for a long period and ended being unable to withdraw new notes. One of them said he had visited several ATM locations and had to give up in frustration. According to him, even after queuing for a long period, there was no guarantee of being able to obtain cash, as the machines had to be restocked from time to time. “If those in front of the queues exhausted the money in the machine, you are left with the option of going away or remaining on the queue until the bank officials come to put more money in the machine. It is very frustrating,” he said. A visit to some branches of banks across Lagos showed that customers of these banks were expressing their anger over their inability to change the old notes for new notes. Most customers said: “We came here to the bank to change our old currency for new ones but they are saying no new notes available. They told us to deposit the old notes in the bank but we cannot deposit all the money as we need money for day-to-day transactions. Many traders have started refusing to collect the old notes as banks are not giving out new notes. “We want to get the new notes as we do not really know if the CBN would extend the deadline for submission of old currency.” Continuing they queried: “Why is the bank treating customers this way when the CBN said it has given the banks enough of the new notes. Who are we going to believe? “So we think the monetary authority should come out boldly and clear the air on what is exactly happening with the new notes. Nobody would like to be trapped with the old notes especially in this hard economic situation of the country.” Some of the customers also threatened: “If by Monday this week we come here again and the same thing happens we won’t leave until we get the new notes. There is no where we can get the new notes except bank”. Some of the customers suspect that banking halls would be too crowded today and tomorrow as old notes not deposited in banks before these two days could be lost. Why we are still dispensing old notes – Banker Meanwhile, a staff of one of the banks who spoke on the condition of anonymity, told Financial Vanguard that payment of old notes to customers making cash withdrawal over the counter was in keeping to a directive from the CBN, which barred banks from disbursing new notes over the counter. “The CBN has not permitted us to pay new notes over the counter. We are only allowed to load the ATMs with new Naira notes, but any customer that wishes to withdraw money from the banking hall would be paid with old notes. We cannot go against the CBN’s directive,” he said. Another bank official in Kubwa area of Abuja, Victor Ochayi, said, “as of today, banks are still giving out old notes over the counter. And I am sure they will still be dispensing the old notes till 31st January, so we can still give out old notes on the counter.” Speaking on the reason for still giving out new notes, Ochayi said, “The new note in circulation is very small, and we are trying to adopt the cashless policy; we don’t really have much new notes to give out, but our ATM machines stop dispensing old notes this week”, he added. Banks limits ATM withdrawal of new notes While the counter cash dispensing was solely on old notes the banks have also imposed a N20,000 limit on cash withdrawals from ATMs for new notes. Moreover, most of the ATMs were without cash as at last weekend as the banks claimed they have loaded what they have in their stock of new notes. Despite the unavailability of cash in the ATMs of banks visited by Financial Vanguard, it emerged that the CBN has directed the banks to effect a downward review of the daily cash withdrawal limit through the ATMs. A notice by some banks to their customers showed that the limit is now set at N20,000, from N100,000 previously allowed. A notice by a commercial bank to its customers cited by Financial Vanguard titled: “Downward Review of Daily Withdrawal Limit on ATM”, reads: “Please be informed that the Central Bank of Nigeria has revised its daily cash withdrawal limit on ATM from N100,000 to N20,000 effective 23rd January, 2023. “This means that you can only withdraw a cumulative daily amount of N20,000 from your account across all ATMs irrespective of the bank.” Speaking on the difficulty in obtaining withdrawal has been, Margaret said, “We can’t withdraw from the bank, even if we do, we can’t withdraw more than 20,000 per day which is quite frustrating”. Widespread rejection of old notes Meanwhile, many traders/ businesses and individuals have already started rejecting old notes since Friday on fears that they would not be able to deposit such notes in the banks or swap them before the deadline. One Mrs Margaret Obey, a business woman said, “Many people are rejecting the old money, meanwhile the new money is not available. “It is really affecting our business, we cannot buy things from the market, they won’t accept transfer, they won’t accept the old cash, those women in the market who don’t normally go to the bank, they will tell you they need the new money, instead of the old one, so it is affecting me”. A hotel in Ikeja Lagos, who rejected our correspondent’s payment with old note on Saturday explained that the management of the hotel has said that they evacuated their last old notes to the bank on Friday with instruction that no payment should be received on old note with effect from that Friday. There was also a conflicting report on the date allowed for deposit of old notes by different bank officials. Contrary to the January 31 2023 deadline set by the CBN, some staff of most of the banks visited by Financial Vanguard said that their banks would cease the collection of old notes from customers on Monday or Tuesday (today or tomorrow) another bank said they would likely collect the old notes after January 31st, maybe till Friday, February 3, 2023, subject to CBN’s allowed date of transmission of all old notes to the apex bank’s vault. However, some Point of Sales (PoS) operators were heard assuring their customers that they (PoS operators) would still be able to deposit old notes even on Tuesday, January 31. Different strokes for PoS operators Meanwhile at the backdrop of the crises in the banks over access and circulation of the new Naira notes, many banks customers had turn to the Point of Sales, PoS, operators for rescue. However, Financial Vanguard findings show that the PoS operators were also destabilized over the inadequate supply of the new notes. But some of the operators took advantage of the situation to make brisk business as customers who could neither withdraw from the ATM nor wait in a long queue used PoS at extra charges. Our Nigeria is a joke . Visit Naijabet.com to bet on the Nigerian Politics .
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| Politics › Tribunal Sacks Adeleke As Governor by myoddsng(op): 6:54pm On Jan 27, 2023 |
The Osun State Governorship Election Petition Tribunal sitting in Osogbo has sacked Governor Ademola Adeleke as the duly elected governor of the state. The tribunal in a split document of two to one is declared that the Independent National Electoral Commission, INEC, should withdraw the Certificate of Return issued to Adeleke and issued same to former Governor Adegboyega Oyetola The majority judgement which was read by the Chairman, Justice Tertse Kume said Oyetola scored the majority lawful votes of 314,931 against Adeleke’s 290,266. The minority judgement is ongoing. Details later…
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| Politics › Let’s Use Old, New Notes For 6 Months — Reps by myoddsng(op): 10:17am On Jan 27, 2023 |
The House of Representatives yesterday asked the Central Bank of Nigeria, CBN, to extend the deadline for use of the old naira notes by at least six months, since the new notes were not readily available.https://www.vanguardngr.com/2023/01/lets-use-old-new-notes-for-6-months-reps/amp/ 5 Likes 2 Shares
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| Politics › PDP Calls On NDLEA, EFCC To Probe Tinubu by myoddsng(op): 4:54pm On Jan 22, 2023 |
The PDP Campaign made the call at an ongoing media briefing in Abuja, on Sunday. A spokesman for the campaign, Mr Daniel Bwala, said it was imperative for the NDLEA to wade in by calling Tinubu for questioning over the deal which led to him forfeiting $460, 000 to US authorities.
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| Christianity Etc › G.o.a.ts Have No Place In Heaven — Mike Bamiloye by myoddsng(op): 2:58pm On Jan 22, 2023 |
Mike Bamiloye, the founder and president of the film production company Mount Zion Faith Ministries has said that those who refer to themselves as the Greatest of All Time (GOAT) do not belong to the kingdom of God. He warned people to stop referring to themselves as the greatest of all time (GOAT) because of their talents. He said this via his Instagram handle. According to him, GOAT means stubborn, headstrong, disobedient and an unbelieving people in the Bible while sheep symbolises the children of God. The movie producer then questioned why people choose to identify as goats, asking “Don’t you see the spirit of the GOAT is already possessing you?” He then noted that “a goat people have no place in the kingdom of God.”
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| Politics › Enugu: APC Faction Endorses PDP Guber Candidate, Mbah For Governor by myoddsng(op): 10:19pm On Jan 20, 2023 |
A faction of the All Progressives Congress, APC, in Enugu state led by former President of the Senate, Chief Ken Nnamani has endorsed the gubernatorial candidature of the Peoples Democratic Party, PDP, in the state, Mr. Peter Mbah, as their preferred candidate for the March 11 Governorship election in the state.https://www.vanguardngr.com/2023/01/apc-faction-endorses-mba-enugu-pdp-guber-candidate/amp/ 1 Like
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| Politics › Atiku’s Campaign Rally In Rivers: Wike Grants Free Use Of Stadium by myoddsng(op): 10:07pm On Jan 20, 2023 |
GOVERNOR Nyesom Wike has approved use of the Adokiye Amiesimaka Stadium, Omagwa, Ikwerre Local Government Area (LGA) for Rivers state presidential campaign rally of party candidate, Alhaji Atiku Abubakar, with a waiver on the N5 Million venue fee stipulated by Wike’s Executive Order 21. The development confirmed speculations making the rounds for days that the Atiku campaign rally, earlier fixed for the Port Harcourt Polo Club for fear of breaching Wike’s Executive Order 21 may have shifted to the expansive Adokiye Amiesimaka Stadium in the orders of the Rivers governor. The governor, however, gave the favour with a caveat to the Presidential Campaign Council that the Stadium will be accessible to the council 48 hours to the February 11th, 2023 presidential campaign. Wike disclosing this at the campaign rally by the Rivers State PDP Campaign Council for Oyigbo LGA Friday warned the Director-General of the PCC in Rivers State, Dr. Abiye Sekibo, not to provoke the State government by desperation to grab access to the stadium earlier than expected, else the approval will be withdrawn. The Governor in his warning told Abiye Sekibo, “We have approval for your presidential candidate to use Adokiye Amiesimaka Stadium, February 11th. You have no right to begin to go to the stadium now. We can only give you access two days to the occasion for you to prepare. “Nobody gave you one month. So, if you dare it again, to go and force yourself into the stadium, I will cancel the approval with immediate effect. Dare it again, I cancel it. Heaven will not fall. Even if heaven falls now, we will be happy that it was in our time heaven came down. “I know you are not ready to do that rally. You are only looking for excuse. But you must do it. I know you are going to import people, no problems, go and import. We have given you the stadium.” On Rivers All Progressives Congress (APC) in Rivers State blaming the crisis at Thursday’s campaign by its governorship candidate, Tonye Cole in Port Harcourt, he said, “APC simply turned a victim to the brewing crisis between two factions in Rumuwoji community because they did not address their demands adequately.”
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| Politics › Gradual Removal Of Petrol Subsidy Starts April —FG by myoddsng(op): 7:44am On Jan 19, 2023 |
The Federal Government may begin a gradual removal of the petrol subsidy from April 2023, about three months ahead of the initial plan to effect a complete stop to the expenditure head. Mrs Zainab Ahmed, Minister of Finance, Budget and National Planning, who dropped this hint on Tuesday during an interview with ARISE TV on the sidelines of the World Economic Forum in Davos, Switzerland, also said the subsidy removal appears to be the position of all contestants to the leadership of the country in their political campaigns for next month’s general elections. She stated: “What will be safer is for the current administration to, maybe at the beginning of the second quarter, start removing the fuel subsidy, because it’s more expedient if you remove it gradually than to wait and move it all in one big swoop”. After an 18-month extension, the Federal Government plans to spend N3.35 trillion on petrol subsidies from January till June 2023. The extension, however, generated widespread debate on the expediency of such expenditure as it will increase the budget deficit of the FG which would be financed through additional borrowing and hence further rise in the nation’s public debt which stood at N44.06 trillion as at end of September 2022. According to the World Bank and the International Monetary Fund, the removal of fuel subsidies is one of the fiscal reforms urgently needed to lift Nigeria’s development outcomes, which are severely constrained by the inefficient use of resources. Speaking in this regard, World Bank President, Mr David Malpass, said: “Nigeria’s government urgently needs to strengthen fiscal management, create a unified, stable market-based exchange rate, phase out its costly, regressive fuel subsidy and rationalize preferential trade restrictions and tax exemptions.” He spoke while commenting on a World Bank report launched in November last year, titled: “Nigeria Public Finance Review: Fiscal Adjustment for Better and Sustained Results,” Similarly, the IMF, in a statement at the end of its Article IV consultation with Nigeria in November, said: “Directors also urged the removal of untargeted fuel subsidies, with compensatory measures for the poor and transparent use of saved resources. They stressed the importance of further strengthening social safety nets.” Speaking during the interview, the minister noted that the petrol subsidy regime must be exited as it is revenue that would have gone into the government coffers. “Where there is not enough revenue for the government to buy the refined petroleum products, we have had to borrow to buy the petroleum products. So, if we take that out, that is about N3.25 trillion. That is a significant relief, that we do not incur any more than that number that we projected for in 2023,” she said. Asked if she felt betrayed that the petrol subsidy had not been removed despite her best efforts to ensure removal, she stressed that it was a collective decision to retain the payments. ‘’Betrayed? No. It was a decision that was taken as a collective, recognising the fact that due to the lingering impact of the COVID-19 pandemic, and also heightened inflation, the removal of the fuel subsidy at that time, would have increased more burden on the citizens,” Ahmed said. She added that President Muhammadu Buhari does not want to take measures that exacerbate economic hardship in the country. Speaking further on FG’s position Ahmed stated: ‘’The president does not want to contemplate a situation where measures are taken that are further going to burden the citizens. So, the decision was to extend the period from June 2022 (sic) to 18 months, beginning from January 2022. ‘’So, in June 2023, we should be able to exit. The good thing is, we hear a consistent message that everybody is saying this thing needs to go. It is not serving the majority of Nigerians. On the future of the subsidy debate, Ahmed said, ‘’I listened to some of the new leaders that are campaigning for the next round of leadership in the country that is saying they will get rid of it very quickly. ‘’What will be safer is for the current administration to maybe at the beginning of the second quarter to start removing the fuel subsidy because it’s more expedient if you remove it gradually than to wait and move it all in one big swoop. ‘’So, the idea for us in the budget, is that the subsidy costs should not exceed that N3.23 trillion. So, whether it’s done completely 100 per cent by June or by July, or whatever, it’s a process.”
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| Politics › PDP Crisis: G5’ll Soon Conclude Talks On Preferred Presidential Candidate – Wike by myoddsng(op): 12:15pm On Jan 18, 2023 |
Governor Nyesom Wike of Rivers State said his political allies in the G5 will soon conclude talks on the preferred presidential candidate to support in the February 25 election. Wike disclosed this during a rally of the Rivers state Peoples Democratic Party, PDP in the Ikwerre Local Government Area of the state. According to Wike, the people of the state know their political bearings and will not play second fiddle concerning the general election slated for February 25 and March 11 2023. He said, “Now, it is one man, one vote. All the votes must be in one basket from the governorship to the House of Assembly. The other one we are concluding. When we conclude, you will be told,” he told the party supporters at the event. “Nobody should intimidate you. Nobody should tell you any story. We are free-born in this country. We are not second-class citizens. Nobody can tell us anything. I dare them. Let anybody do any funny thing, We’ll tell them we are from Rivers State.” Wike also said the 2023 elections is a fight to finish, saying, “This election we are going for is a fight to finish and we are very ready. We are waiting for those strangers, those people who can sell their state for a pot of porridge, we are waiting for them to come back. Do they have anything to offer?” he asked his supporters who chorused a loud, “No.”
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| Politics › Muslim-muslim: Atiku, Dogara, Peter Obi Attack Apc’s Same-faith Ticket Afresh by myoddsng(op): 12:08pm On Jan 18, 2023 |
The presidential candidates of Peoples Democratic Party, PDP, Alhaji Atiku Abubakar; All Progressives Congress, APC, Asiwaju Bola Tinubu; and Labour Party, LP, Mr Peter Obi; yesterday clashed over the same-faith ticket. While Atiku and Obi’s campaigns opposed the Muslim-Muslim ticket of the APC, describing it as divisive and a disaster, the APC countered that the track records of its candidates and the solution-driven and all-inclusive progressive programmes they have for Nigerians would prevail. APC added that given the manner Atiku snatched the PDP ticket, contrary to the North-South power-sharing arrangement, he was the divider of Nigeria. Atiku kick-started the clash when he pooh-poohed the Muslim-Muslim presidential ticket of the APC, saying it was a recipe for disaster. Speaking in Jos at the 2023 extra-ordinary General Church Council, GCC of the Evangelical Church Winning All, ECWA, Atiku asked Christians to have confidence in him, adding that they would gain a lot from his administration if elected.
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| Politics › How Thugs Loyal To APC Attacked Our Constituency Rally In Ebonyi – NNPP by myoddsng(op): 12:01pm On Jan 13, 2023 |
Abakaliki -The leadership of the New Nigeria People’s Party, NNPP, in Ebonyi State, yesterday explained how thugs loyal to the All Progressive Congress, APC allegedly attacked NNPP supporters in Abakaliki South State Constituency in the State. According to the Party, the attack occurred during it’s consultation and campaign rally, which brought together NNPP supporters in their numbers. Kwakanso to win the 2023 Presidential election is 101odds..Bet on naijabet.com Addressing Newsmen in Abakaliki, the NNPP, House of Assembly candidate for Abakaliki South State Constituency, Hon Godwin Okemini alleged that suspected APC thugs invaded Abakaliki South constituency during its constituency grassroots consultation rally organized by the party. Okemini alleged that the Party supporters had converged at the venue of the event in their numbers, awaiting the arrival of the governorship candidate, Prophet Adol Awam, when the thugs invaded the place. “While our party faithfuls were peacefully seated at the venue, we saw a group of APC thugs invade the premises, started harassing women and men and out of fear of further attack, many fled to safety while the thugs took time to dismantle all the canopies and public address systems already mounted for the event. “A reprisal from the NNPP supporters would have escalated the situation but the leadership of the party on ground urged the Party’s youths not to engage the APC hoodlums in a fight as the Party is known for peace and was built on strong democratic principles which also reflects the God-fearing personality of its guber candidate in the State.” The Governorship candidate of the party, Prophet Adol Awam condemned the violent attack and accused the ruling APC of making moves to muzzle the opposition parties in the State and urged Governor Umahi to keep his party members in check by speaking against hooliganism, violence and other forms of electoral demeanour. Dr. Adol Awam added that the ugly incident was a sign that the Ebonyi APC had lost the goodwill and support of the people of the State. “We had enough arsenal in our armory to match them , but we clearly have different ideologies, and we represent light and must not conform to the principles of darkness. Ebonyians know that we are the only party with the capacity to deliver them from bondage” Reacting to the allegation, the State Chairman of APC and Security Consultant to the State Government, Chief Stanley Emegha described the alleged attack as the figment of the imagination of the NNPP. He noted that the party was not in contest with any political party for the Governorship position and other elective positions ahead of the general election in the state as there’s nothing like NNPP in Ebonyi State.
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| Politics › Petrol: Scarcity Lingers As Private Depots Sell At N240/litre by myoddsng(op): 11:22am On Jan 13, 2023 |
Private depots have raised the price of petrol by 6.7 percent to N240 per litre this week, from about N225 per litre the previous week. This came as the Independent Petroleum Marketers Association of Nigeria, IPMAN, said the current petrol scarcity might continue till June 2023 when the government was expected to remove its subsidy. The Chief Executive Officer, Nigerian Midstream Downstream Petroleum Regulatory Authority, NMDPRA, Engr. Farouk Ahmed, whose agency has the responsibility to regulate activities in the midstream and downstream sectors, did not respond to Vanguard’s inquiries, yesterday on the rise in the private depots price of petrol by 6.7 percent to N240 per litre. Shortage may continue — IPMAN The National Operations Controller, IPMAN, Mr. Mike Osatuyi, disclosed in a telephone interview with Vanguard that members of the association have not started lifting the product at N148 per litre as earlier planned. According to him, the current petrol scarcity might continue till June 2023, when the subsidy is expected to be removed by the Federal Government. He said: “We are getting the product between N230 per litre and N240 per litre from the private depots. The price becomes higher when we add our transportation cost. So, there is currently no way we can sell at the government regulated price.” He noted that his members have been unable to get their products at government-approved prices, which automatically pushed prices up at various pumps. He said independent marketers are getting petrol from depots at N240 per litre, excluding transportation. “We are getting the product between N230 per litre and N240 per litre, without transportation. If I get the product at N260 per litre, how much should I sell? “It is a terrible situation and that is where we are. This is the status update from yesterday night. “There is rent and arbitrage and they are not giving us the product at the official price even though they (government) promised to do so. “It is when the Federal Government removes subsidy on petrol that all these (petrol scarcity) will be over.” On things returning to normalcy, he said: “There is hope in sight by the middle of the month but not immediately.” Further, he said: “The solution is to deregulate and all the contestants for the presidency have said they will deregulate and Buhari said they will deregulate by June too.” Queues increase in Abuja, Lagos, others Meanwhile, checks by Vanguard showed that there were long queues at filling stations across the Federal Capital Territory, yesterday, raising fears of yet another round of petrol scarcity in the nation’s capital, Abuja. Specifically, checks around the city centre showed that most outlets operated by both major and independent marketers were shut while queues were observed at Conoil and Total filling stations opposite NNPC Towers. Queues were also noticed at NNPC Mega station as well as two stations in the Wuse area of the city. Similar long queues were observed in Lagos and environs, yesterday, as the independent marketers were seen selling the product over N250 per litre while the major marketers and the Nigerian National Petroleum Company sold it at N170 and N169 per litre respectively. The price disparity culminated in the emergence of black markets in Abuja, Lagos and other parts of the nation where the product was sold at between N400 and N500 per litre, depending on location. Distortions affecting market — MOMAN Speaking to Vanguard from Lagos, the Executive Secretary, Major Oil Marketers Association of Nigeria, MOMAN, Mr. Clement Isong said distortions in the market are be to blamed for continuing distribution challenges. Isong pleaded with government to free up the market and allow factors of demand and supply determine price for consumers. According to him, “The demand for the product is too high and it is creating a huge challenge for marketers. The supply is not enough and whatever you put out is exhausted almost immediately. “The government needs to allow a free market for all players. This will lead to reduction in demand because prices will go up. A rise in price will attract investment that would lead to increase in supply. “The biggest challenge in the market today is the high demand and we need to do something about it. Market interference is the reason for the distortion. It is simple economics: when you have interference, shortages will occur and this is the problem.” Isong said it is not true that MOMAN members are selling to independent marketers at N240 per litre, explaining that all products received from NNPC Limited are sent to major marketers’ retail outlets across the country. He pointed out that as a rule, “MOMAN members do not sell above NNPC approved price unless you are telling me that there are rogue elements. That kind of action, if it happened, will attract serious sanctions. Our products are generally meant for our filling stations and that is the case.” Motorists hike transport fares Meanwhile, motorists continue to increase transport fares in different parts of the country. For instance, in Lagos, a trip from Badagry to Mile 2, which costs N400 or N500 before, now costs N1,000. Agbara (Ogun State) to Mile 2, which used to be between N300 and N400, now costs N700. From First Gate, popularly called Igbo-Elerin Junction, on the LASU-Igando Road, to Iyana-Ipaja, which used to be N300 before, now costs N500, whereas Igando to Iyana-Ipaja, which used to be N200, now costs N500. Igando to Egbeda, which was N150, now costs between N300 and N400. From Igando to First Gate, which was N100 before the hike, is now between N200 and N300. Igando to Iyana-Iba that was between N100 and N150, is now between N300 and N500 depending on the situation on the road. Findings from other routes in the metropolis showed that from Egbeda to Oshodi, which costs between N200 and N300 now goes for between N500 and N600 and during peak periods, it goes to N700, just as Egbeda to Ikeja, which used to be between N200 and N300 is now N500. From Cele to Ikotun, which used to cost N150 is now between N500 and N600 subject to the crowd waiting for bus at the bus stop. From Cele to Jakande Estate Gate, which cost between N100 and N150 now goes for between N200 and N300. Findings in Ajah area of the state showed that from Ajah to CMS, which used to be N400, is now N1,000 flat. From CMS to Mile 2, which used to be between N200 and N400 now goes for between N700 and N1,000, while between Mile 2 and Vanguard Media Ltd, which used to be N100 is now N200. Also, from Mile 2 to Oshodi, which used to be N100, N150 is now N300 to N500 and rises some times toN1,000 at late hours. Transport fares have also gone up in most parts of Abuja, as well most states in the South South, South East, South West and the North. While the transporters blamed hike in fuel prices by the petrol stations, most commuters blames the Federal Government’s failure to enforce the official price was why the petrol stations were selling at whatever price they wanted and turn around to blame depot price.
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| Politics › Polls: 93.47m Voters To Participate —INEC by myoddsng(op): 8:50am On Jan 12, 2023 |
THE Independent National Electoral Commission, INEC, has declared its determination to proceed with the conduct of the February/March general elections, two days after it expressed fears about the wave of general insecurity across the country. INEC had lamented, on Monday, that if not tamed, the ugly trend of pre-election violence could precipitate a constitutional crisis by way of the forced cancellation of election results or outright postponement of polls. Presenting the register of voters to chairmen and secretaries of Nigeria’s 18 registered political parties, yesterday, in Abuja, INEC Chairman, Professor Mahmood Yakubu, said the commission had been bolstered by assurances by Nigeria’s defence, security and intelligence architecture that it would ensure a conducive environment for the polls. Consequently, the electoral umpire said it has commenced the airlift of sensitive and non-sensitive materials to states. Yakubu noted that with just 44 days to the General Election, and with the presentation of the register of voters to political parties, the Commission has now successfully implemented 11 out of the 14 activities on the timetable and schedule for the polls. According to him, the implementation of other activities has proceeded in earnest. Yakubu added that at no time in the recent history of the Commission has so much of the forward planning and implementation been accomplished 44 days ahead of a General Election. No more adjustment to polls timetable “Therefore, the Commission is not contemplating any adjustment to the election timetable, let alone the postponement of the General Election”, he declared. He said, for the avoidance of doubt, the Presidential and National Assembly elections will hold on Saturday 25th February 2023 while Governorship and State Assembly elections will hold two weeks later on Saturday 11th March 2023. “The repeated assurances by the security agencies for the adequate protection of our personnel, materials and processes also reinforces our determination to proceed. The 2023 General Election will hold as scheduled. Any report to the contrary is not the official position of the Commission. “As a further affirmation of the Commission’s readiness to conduct the 2023 General Election as scheduled, the final register of voters has been compiled. 93.469 million voters “You would recall that for the 2019 General Election, Nigeria had a voter population of 84,004,084. After the cleaning up of the data from the last Continuous Voter Registration (CVR) exercise (June 2021 – July 2022), 9,518,188 new voters were added to the previous register resulting in the preliminary register of 93,522,272 which was presented to Nigerians for claims and objections as required by law. “At the end of the period for claims and objections by citizens, the Commission received 53,264 objections from Nigerians to the prevalence of ineligible persons on the register by virtue of age, citizenship or death. These names have been verified and removed from the register. “Consequently, the register of voters for the 2023 General Election stands at 93,469,008. Of this cumulative figure, 49,054,162 (52.5%) are male while 44,414,846 (47.5%) are female. The distribution by age group shows that 37,060,399 (39.65%) are youth between the ages of 18 and 34; 33,413,591 (35.75%) are middle-aged persons between the ages of 35 and 49; 17,700,270 (18.94%) are elderly voters between the ages of 50 and 69 while 5,294,748 (5.66%) are senior citizens aged 70 and above. In terms of occupational distribution, students constitute the largest category with 26,027,481 (27.8%) of all voters, followed by 14,742,554 (15.8%) farmers/Fishermen, and 13,006,939 (13.9%) housewives. “The data on disability was not collected for previous registration. However, the cumulative figure of 85,362 persons from the recent CVR indicates that there are 21,150 (24.5%) persons with Albinism; 13,387 (15.7%) with physical impediment and 8,103 (9.5%) are blind,” he added. Deployment of materials The INEC boss added that already, substantial quantities of sensitive and non-sensitive materials have been deployed to various locations across the country. According to him, the last batch of the Bimodal Voter Accreditation System, BVAS, has been received while the ongoing configuration of the critical technology in readiness for elections will soon be completed. “In the last two days, we commenced the airlifting of other sensitive materials to states across the country. Already, some of the materials for 17 states in three geo-political zones have been delivered. “Furthermore, 13,868,441 Permanent Voters’ Cards (PVCs) have been printed, delivered to states and are being collected by citizens as new voters or by existing voters who applied for transfer or replacement of cards as provided by law. “Similarly, following the display of the voters’ register nationwide and the conclusion of claims and objections by citizens, a new national register of voters has been compiled. “I would like to reiterate our commitment to a transparent, credible and inclusive 2023 General Election. We will continue to take every step to protect the sanctity of the votes cast by citizens and to deal with infractions, including the arrest and prosecution of persons that attempt to perpetuate illegality at Polling Units on Election Day, be they under-aged voters or vote buyers. “Once again, the Commission appreciates the patience of Nigerians who have been queuing up at the designated centres to collect the PVCs. To make it easier, we devolved the collection to the 8,809 Registration Areas/Wards nationwide. We have also uploaded the comprehensive list of the Ward collection centres nationwide to our website. The locations can also be identified by sending a short text message to any of the two dedicated telephone lines. The details are also available on the Commission’s website”, he added. North gets 50.162m voters, South 43.305m A breakdown of the 93.469 million voters shows that the 20 states of the North have 50, 161,722 voters while the South has 43,305,286 votes North-West, South-West top zones Among the six geo-political zones, the North-West has the highest number of voters with 22,255,562 voters. It is followed by South-West which has 17, 958,966 and North-Central including Abuja, the Federal Capital Territory with 15,363,731 voters. South-East has the least number of voters with 10,905606 followed by North-East, 12,542,429; and South-South, 14,440,71 Lagos, Kano, Kaduna’ve highest voters A state-by-state breakdown showed that Lagos State with 7,060,195 registered voters topped the register, followed by Kano with 5,921,370 and Kaduna with 4,335,208. Ekiti has the least number of voters with 987,647 followed by Bayelsa, 1,056,862; and Yobe, 1,485,146. Others include: Abia-2,120,808 Adamawa – 2,196,566 Akwa-Ibom -2,357,418 Anambra- 2,656,437 Bauch[/b]i – 2,749,268 [b] Benue – 2,777,727 Borno – 2,513,281 Cross River – 1,766,466 Delta – 3,221,697 Ebonyi – 1,597,646 Edo -2,501,081 Enugu – 2,112,793 FCT, Abuja – 1,570,307 Gombe 1,575,794 Imo – 2,419,922 Jigawa – 2,351,298 Katsina – 3,516,719 Kebbi – 2,032,041 Kogi -1,932,654 Kwara -1,695,927 Nasarawa – 1,899,244 Niger- 2,698,344 Ogun- 2,688,305 Ondo -1,991,344 Osun- 1,954,800 Oyo -3,276,675 Plateau- 2,789,528 Rivers- 3,537,190 Sokoto -2,172,056 Taraba-2,022,374 Yobe -1,485,146 Zamfara – 1,926,870. Who are you supporting to win the 2023 election ?.
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| Politics › Atiku-okowa Mocks Tinubu Over Buhari’s Adamawa Snub by myoddsng(op): 8:24am On Jan 10, 2023 |
The Atiku/Okowa Presidential Campaign Organization has mocked the Presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, following what it described as President Muhammadu Buhari’s obvious snub during Monday’s APC campaign in Adamawa. The PDP said it was clear that Buhari avoided the booby trap of identifying with Tinubu when the outgoing President declined to speak directly in favour of Asiwaju by commending him for anything during the rally. This was contained in a statement signed by the Spokesperson of the PDP Campaign, Kola Ologbondiyan, in Abuja, on Monday. He said, “The public watched as a visibly embarrassed Asiwaju Tinubu had to put up with President Buhari merely raising his hand without speaking on his (Tinubu’s) personality despite the pressure being mounted on him (Buhari). “It was indeed a pitiable sight to behold as Asiwaju Tinubu watched Mr. President’s mouth, expecting him to campaign for him and speak words of commendation on his personality, which to his embarrassment, never came. “Even when President Buhari, who was about to leave the campaign stage, was reminded by the APC National Chairman, Senator Abdullahi Adamu, to address the gathering in Hausa language, Mr. President merely described him (Tinubu) as being nominated by the Party and failed to campaign for him. “Nigerians can recall that our campaign had earlier cautioned Asiwaju Tinubu that dragging President Buhari into his campaign cannot help him given that his image had gone beyond redemption. “The APC Presidential Candidate should face his political woes and not attempt to transfer the burden and smear of his alleged narcotic-related offence and countless allegations of corruption and sundry misdemeanors on the President.“ He further said, “Asiwaju Tinubu should stop wasting his time. He should yield to the consensus by Nigerians to vote in a more acceptable, capable and experienced Candidate of the Peoples Democratic Party (PDP), Atiku Abubakar to rescue, rebuild and redirect our nation at this critical time.” 2 Likes
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| Politics › Insecurity: Polls May Be Postponed, Cancelled — INEC by myoddsng(op): 7:15am On Jan 10, 2023 |
The Independent National Electoral Commission, INEC, has lamented the growing wave of election-related insecurity across the country, expressing fears that the trend, if not checked, could lead to the cancellation or postponement of the forthcoming general polls. Noting that the development could hinder the declaration of election results and precipitate a constitutional crisis, the electoral umpire called for concerted efforts to stem the tide of violence. Chairman, Board of The Electoral Institute TEI, INEC’s training arm, Professor Abdullahi Abdu Zuru, made the observation, yesterday, in Abuja at the validation of election security training resources. Last month, INEC decried waves of attacks on its offices and facilities since releasing data detailing 50 attacks across 15 states, namely: Imo (11), Osun (7), Enugu (5), Akwa Ibom (5), Ebonyi (4), Cross River (4), and Abia (4), Anambra (2), Taraba (2), Kaduna (1), Borno (1), Bayelsa (1), Ondo (1), Lagos (1), and Ogun (1). Speaking when he appeared before the House of Representatives ad-hoc committee investigating attacks on the facilities of the commission, recently, INEC chairman, Professor Mahmood Yakubu, said the conduct of the 2023 elections might be affected if attacks on its offices continued. He consequently, called on security agencies to continue to provide safety around the facilities. Currently, there are pockets of violence and insecurity across the country with banditry and kidnapping in the North-West and parts of the North-Central; Boko Haram insurgency in the North-East; killings by unknown gunmen and clashes between security agencies and separatists in the South-East among others. Why polls may be cancelled, postponed Lamenting that insecurity might halt the general polls, Professor Zuru said: “We all appreciate the fact that election security is vital to democratic consolidation through the provision of enabling environment for the conduct of free, fair, credible and inclusive elections and thus strengthening the electoral process. “Consequently, in preparations for the 2023 general elections, the Commission is not leaving anything to chance in ensuring that intensive and extensive security is provided for election personnel, materials and processes. “This is particularly significant to the Commission given the current insecurity challenges in various parts of the country and the fact that the National Youth Service Corps, NYSC, members constitute the core of the polling unit election officials. “Moreover, if the insecurity is not monitored and dealt with decisively, it could ultimately culminate in the cancellation and/or postponement of elections in sufficient constituencies to hinder the declaration of elections results and precipitate a constitutional crisis. ‘It must not be allowed to happen’ “This must not be allowed to happen and shall not be allowed to happen. Therefore, security personnel in particular and all elected officials in general must be security-conscious and alert to unusual activities in their environment and must be fully equipped to deal with any challenge at all times. “To this end, the National Security Adviser, General Mohammed Babagana Monguno, and the Chairman, INEC have jointly assured the nation that a conducive environment will be provided for the successful conduct of the 2023 general election. “Similarly, the Inspector-General of Police, IGP, Usman Baba Alkali, has conducted election security management workshops across the six geo-political zones. “On its part, the Commission, through The Electoral Institute, has institutionalized the development and implementation of a cascaded training mechanism for security personnel as a critical component of its training plan.” Real-time polling unit results will be uploaded on IReV He said that emboldened by the protection offered by the amended Electoral Act, the Commission introduced innovative technologies and procedures and made commitments to Nigerians that continuous verification, accreditation and voting will be conducted at the polling units using the Bimodal Verification and Accreditation System (BVAS) and real-time polling unit-level results will be uploaded on to the INEC Results Viewing (IReV) Portal using the same BVAS. Who will be the winner of the 2023 presidential election ?, play now on najabet.com “These commitments require innovative security strategies and deployments for the protection of voters, election personnel, materials, equipment, the electoral processes as well as the general public and infrastructure. “These innovative systems and processes minimize human errors and delays in results collation and improve the accuracy, transparency, and credibility of the results collation process thereby ensuring the credibility of the process. “They were tested during the Ekiti and Osun Governorship elections, held on June 18, 2022, and July 16, 2022, respectively,” he added. In his welcome remarks, the Director General of The Electoral Institute, Dr Sa’ad Umar Idris, emphasized that the Election Security Training Documents will play a critical role in the effective training of security personnel in securing the electoral environment for free, fair, credible and inclusive elections. According to him, the four documents to be validated are the electoral security personnel training manual, the electoral security personnel facilitator’s guide, the electoral security handbook, and the basic security in election duty handbook. In his goodwill message, the Country Director of the International Foundation for Electoral Systems, IFES, Serah Jah, said managing security threats in the electioneering process is a tall order for INEC.
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| Politics › Buhari’s Legacy Beyond Infrastructure - Lai Mohammed by myoddsng(op): 12:07pm On Jan 09, 2023 |
The Minister of Information Alhaji Lai Mohammed boasted on Monday that the legacy of the Buhari administration is not only in the provision of critical infrastructure but touches on other areas of development. The Minister spoke at a news conference in Abuja at the presentation of the scorecard of the Petrolem industry. Mohammed boasted that Buhari had delivered effectively in virtually every sector of the economy and stabilised the security situation in the country. According to him, every state in Nigeria has benefitted from the administration’s programme through one project or the other. Do you agree to this ?
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| Politics › I Look Forward To Peaceful Polls, Retirement, Says Buhari by myoddsng(op): 2:49am On Jan 09, 2023 |
President Muhammadu Buhari says he looks forward to the peaceful conduct of this year’s general elections, and retirement since he has satisfied the constitutionally required two terms in office.https://www.vanguardngr.com/2023/01/i-look-forward-to-peaceful-polls-retirement-says-buhari/amp/ 7 Likes 1 Share
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| Politics › Peter Obi’s VP Candidate, Datti Weeps On National TV Over Insults To Family by myoddsng(op): 9:29pm On Jan 08, 2023 |
The Vice Presidential Candidate of the Labour Party, Datti Baba-Ahmed broke down in tears during the Town Hall meeting organized by Channels Television while speaking about insults directed at his family by political opponents. During the event, which was held on Sunday night, Baba-Ahmed recalled how his family and the memory of his late father became objects of ridicule by political opponents. He said his family background became the target of attack by these opponents soon after he joined the LP Presidential ticket and took on those who spread misconceptions and falsehoods about his principal, Mr Peter Obi He said, “When I joined the ticket, I impeached certain lies against him (Peter Obi) and particularly my good friend on the APC side on the same level. You know when people think they have money, they have power, and the sitting authority is theirs. “Someone has to tap them on the shoulder. I did and told him to do it and I will do three you know I am capable of doing it. “However I and my family have been paying a huge price for my attempts to rescue Nigeria. They sent all sorts of people after me. “I would have been much happier if only they stopped at me as an individual…” One of the Presidential Campaigns had in one of its public engagements cast aspersions on the Mauritanian heritage of the VP candidate who is a Nigerian from Kaduna State. Baba-Ahmed became emotional and had to be excused as he stepped off the set to get himself together before he returned. 2 Likes
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| Politics › ‘that’s Fake News,’ El-zakzaky Denies Endorsing Peter Obi Presidency by myoddsng(op): 1:30pm On Jan 08, 2023 |
The leader of Islamic Movement in Nigeria (IMN), Ibrahim El-Zakzaky, has debunked claims that he has endorsed Peter Obi, the presidential candidate of the Labour Party for the presidency. El-Zakzaky made this disclaimer through one of his lawyers, Marshall Abubakar, ashe described the rumours as false and urged Nigerians to disregard them. Marshall said, “That is fake news. I can confirm to you that there is nothing of such, though some presidential candidates have reached out to him, he has refrained from endorsing any of them because he believes the 2023 presidential contest is bereft of ideological leaning.” However, El-Zakzaky noted that some presidential candidates approached him so that he can endorse them. The Muslim group leader called the public to ignore the viral reports and described them as falsehood. Recall that recently, there were viral online reports that El-Zakzaky called his IMN members to get the Permanent Voters Cards (PVCs) and vote for Obi during the February 25 election.
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| Politics › ‘that’s Fake News,’ El-zakzaky Denies Endorsing Peter Obi Presidency by myoddsng(op): 1:19pm On Jan 08, 2023 |
The leader of Islamic Movement in Nigeria (IMN), Ibrahim El-Zakzaky, has debunked claims that he has endorsed Peter Obi, the presidential candidate of the Labour Party for the presidency. El-Zakzaky made this disclaimer through one of his lawyers, Marshall Abubakar, ashe described the rumours as false and urged Nigerians to disregard them. Marshall said, “That is fake news. I can confirm to you that there is nothing of such, though some presidential candidates have reached out to him, he has refrained from endorsing any of them because he believes the 2023 presidential contest is bereft of ideological leaning.” However, El-Zakzaky noted that some presidential candidates approached him so that he can endorse them. The Muslim group leader called the public to ignore the viral reports and described them as falsehood. Recall that recently, there were viral online reports that El-Zakzaky called his IMN members to get the Permanent Voters Cards (PVCs) and vote for Obi during the February 25 election.
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| Sports › FA Cup: Rashford, Antony Score As Man United Knock Out Everton by myoddsng(op): 3:50am On Jan 07, 2023 |
Manchester United have qualified for the fourth round of the FA Cup after a 3-1 win over Everton on Friday. The Red Devils went in front after four minutes thanks to Antony’s tap-in as Frank Lampard’s Toffees got off to the worst possible start. But De Gea let a ball scramble through his legs for Conor Coady to tap in just minutes later. However soon after the start of the second half, Coady had the ball in the net again, this time at the wrong end.
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| Politics › ‘stop Disgracing Yourselves,’ Kwankwaso Knocks Obasanjo For Endorsing Peter Obi by myoddsng(op): 8:15am On Jan 05, 2023 |
Presidential candidate of the New Nigeria People’s Party, NNPP, Rabiu Kwankwaso has knocked elder statesmen former President Olusegun Obasanjo and leader of the leader of the Pan-Niger Delta Forum (PANDEF), Edwin Clark over their public endorsement of Obi for the 2023 presidential elections. Kwankwaso noted that it was wrong for any person, who is considered a statesman to go about endorsing candidates ahead of the February 25 presidential election in Nigeria. Can Kwankwaso win the 2023 presidential election ?, it is not enough to argue ,place a bet on naijabet.com The former Kano State governor made this assertion on Wednesday in Benin City, the Edo State capital. He said, “I want to advise our leaders: they should stop disgracing themselves. We have so much respect for them. If you say you don’t like me, no problem.” Kwankwaso was hosted by Governor Godwin Obaseki at the Government House ahead of his presidential campaign flag off in the state. However, the NNPP presidential candidate insisted that these endorsements were based on religious and ethnic sentiments and have no effect on the electorate, who, according to him, are a lot wiser now. Kwankwaso said, “Some of the people supporting and endorsing Mr A or Mr B, I think it is a big mistake. These are leaders I respect. There is a time in your life when you become real statesman, not a politician. “I can tell you also that any candidate or party that comes out with the face of ethnicity or the issue of religion, that party, that candidate, I can assure you, has failed that election before it starts.” Recall that in the last three days, the Labour Party (LP) presidential candidate, Peter Obi has been endorsed by Obasanjo and Clark.
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| Politics › FG Risks Paying N1.8trn Interest On N23.7trn Loan — Buhari by myoddsng(op): 8:23am On Jan 04, 2023 |
President Muhammadu Buhari said yesterday it would cost the federal government N1.8 trillion in interest, if the National Assembly failed to approve N23.7 trillion in extra-budgetary spending. The President also said his government had made adequate provisions in the 2023 budget for the successful conduct of the forthcoming general elections and the transition programme. Recall that Buhari had asked the National Assembly to approve the sum he said were funds provided by the Central Bank of Nigeria, CBN, through loans for emergencies in the space of 10 years. The Senate had last week, suspended the request of the President after a rowdy session, as Senators Betty Apiafi and Thompson Sekibo had argued that the request was not constitutional. They also demanded that before the Senate could approve the request, it must have the details of what the funds were spent on. But speaking at the signing ceremony of the 2023 budget of N21.83 trillion at the Presidential Villa, Abuja, Buhari said he had no intention to contest the decision of the lawmakers. He said: “I also urge the National Assembly to reconsider its position on my proposal to securitise the federal government’s outstanding Ways and Means balance at the Central Bank of Nigeria, CBN. “As I stated, the balance has accumulated over several years and represents funding provided by the CBN as lender of last resort to the government to enable it to meet obligations to lenders, as well as cover budgetary shortfalls in projected revenues and/or borrowings. “I have no intention to fetter the right of the national assembly to interrogate the composition of this balance, which can still be done even after granting the requested approval. “Failure to grant the securitisation approval will however cost the government about N1.8 trillion in additional interest in 2023 given the differential between the applicable interest rates which is currently MPR plus three percent and the negotiated interest rate of nine percent and a 40-year repayment period on the securitised debt of the Ways and Means.” The President also accused the National Assembly of introducing N770.72 billion new projects into the 2023 budget proposal he submitted , adding that the national legislative body increased the provisions made by Ministries, Departments and Agencies, MDAs, by N58.55 billion. He said the aggregate expenditure of N21.83 trillion was an increase of N1.32 trillion over the initial executive proposal for a total expenditure of N20.51 trillion. He explained that the 2022 Supplementary Appropriation Act would enable the administration respond to the havoc caused by the recent nationwide floods on infrastructure and agriculture sectors, and asked the Minister of Finance, Budget and National Planning to subsequently provide more details of the approved budget and the supporting 2022 Finance Act. ”We have examined the changes made by the National Assembly to the 2023 Executive Budget proposal. The amended fiscal framework for 2023 as approved by the National Assembly, showed additional revenue of N765.79 billion, and an unfunded deficit of N553.46 billion. ”It is clear that the National Assembly and the executive need to capture some of the proposed additional revenue sources in the fiscal framework. This must be rectified. ”I have also noted that the National Assembly introduced new projects into the 2023 budget proposal for which it has appropriated N770.72 billion. The National Assembly also increased the provisions made by Ministries, Departments and Agencies (MDAs) by N58.55 billion,” he said. Buhari said his decision to sign the 2023 Appropriation Bill into law as passed by the National Assembly was to enable its implementation commence without delay, considering the imminent transition process to another democratically elected government. He, however, directed the Minister of Finance, Budget and National Planning to engage with the legislature to revisit some of the changes made to the executive budget proposal, expressing the hope that the National Assembly would cooperate with the executive arm of government in this regard.” He urged the National Assembly to reconsider its position on his proposal to securitize the Federal Government’s outstanding Ways and Means balance at the Central Bank of Nigeria, CBN. Buhari thanked the National Assembly for approving his request for an extension of its validity date to March 31, 2023. He directed the Ministry of Finance, Budget and National Planning to work towards early release of the 2023 capital votes to enable Ministries, Departments and Agencies commence the implementation of their capital projects in good time to support efforts to deliver key projects and public services as well as improve the living conditions of Nigerians. Reiterating that the 2023 Budget was developed to promote fiscal sustainability, macroeconomic stability and ensure smooth transition to the incoming administration, the President said it was also designed to promote social inclusion and strengthen the resilience of the economy. He pledged that adequate provisions had been made in the budget for the successful conduct of the forthcoming general elections and the transition programme. According to him, “As I mentioned during the presentation of the 2023 Appropriation Bill, the budget was developed to promote fiscal sustainability, macroeconomic stability and ensure smooth transition to the incoming administration. “The budget was also designed to promote social inclusion and strengthen the resilience of the economy. Adequate provisions have been made in the 2023 Budget for the successful conduct of the forth-coming general elections and the transition programme.” On achieving revenue targets for the budget, the President directed MDAs and Government Owned Enterprises, GOEs, to intensify their revenue mobilization efforts, including ensuring that all taxable organizations and individuals pay taxes due. To achieve the objectives of the 2023 Budget, he said relevant agencies must sustain current efforts towards the realization of crude oil production and export targets. ”To augment available fiscal resources, MDAs are to accelerate the implementation of Public Private Partnership initiatives, especially those designed to fast-track the pace of our infrastructure development.” On the Finance Bill 2022, the President expressed regrets that its review, as passed by the National Assembly, was yet to be finalized. ”This is because some of the changes made by the National Assembly need to be reviewed by the relevant agencies of government. I urge that this should be done speedily to enable me assent law,” he said. In his remarks, the Senate President, Ahmad Lawan, assured that the National Assembly would work to ensure increased funds for the government and reduce the rate of deficit in the budget. “But that is not to say that we should raise taxes that will be out of the roof to cause problems for our citizens. But I believe that as a National Assembly, in the next five months, we must be looking at increasing the funds available to the government and also ensuring that the deficit budget is minimized in the next assembly by the grace of God,” he said. On his part, speaker of the House of Representatives, Femi Gbajabiamila, denied any padding or jerking up of the budget, explaining that the lawmakers had done very well in meeting their constitutional mandate. “If you understand constitutional democracy, there are different layers of government and it’s called separation of powers. Ours is for us to receive proposals and that’s why they’re called proposals anywhere in the world. “The National Assembly has done very well in meeting its constitutional mandate. It takes all arms of government to be on board to give a true working document for the country. The executive did everything they could; and we have even a wider view, a bird’s eye view of what’s going on in all the agencies. ”We have also complemented what the executive has done. It’s all for the good of the country and that’s what we’ve done,” he said.
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| Politics › Obasanjo: Endorsement By Nigerians Is All We Desire – PDP by myoddsng(op): 4:08pm On Jan 02, 2023 |
Spokesman of the Peoples Democratic Party (PDP) Presidential Campaign Council, Mr Charles Aniagwu has said the party is encouraged by the stream of endorsements it has received and continues to receive from Nigerians across board. Would PDP be the winning party come 2023 Presidential election ? Know more on naijabet.com He said this in response to the endorsement of the Labour Party Presidential candidate, Mr. Peter Obi by Ex-President Olusegun Obasanjo. Aniagu who spoke on an AIT Programme, Kakaki, monitored in Abuja, on Monday, said the party was not in the least bothered by former President Olusegun Obasanjo’s endorsement of Labour Party Presidential candidate, Mr Peter Obi. He said that while the party would have loved to once again be endorsed by Chief Obasanjo like he did in 2019, the party was comfortable with the numerous endorsements from Nigerians across the country. The Delta State Commissioner for Information, noted that Obasanjo is one leader that enjoys respect across the country but the party is quite happy with the endorsements it has received from Nigerians which could be seen from the different rallies held thus far. He said, “We have organic convergence of Nigerians in all our rallies and at the end of the day their vote is what matters than any other thing. “We would have loved to have Obasanjo’s endorsement just like he did in 2019 when he endorsed and supported Atiku Abubakar because he believed that he had what it takes to take Nigeria out of the current situation. “Democracy allows you the latitude to make choices and he has made his own choice and we do believe that most Nigerians are already making their own choices and from what we have seen Atiku is already favoured to win this election. “We don’t have any problem with Obasanjo endorsing anybody because that is his democratic right and you can’t take it away from him but Nigerians at the end of the day will make the ultimate choice of who governs them for the purpose of recovering Nigeria from where we are at the moment,” Aniagwu equally said the party would not begrudge Obasanjo for the choice of Obi, rather it will buoy the party to intensify engagements with relevant stakeholders across the country. He said, “The PDP Presidential candidate Atiku Abubakar, his running mate Dr Ifeanyi Okowa and indeed our presidential campaign council are not ruffled because we do realise from the beginning that we are going into a contest. “We knew it wasn’t going to be a roller-coaster and that is why we have continued to interface with Nigerians across the six geopolitical zones. “In this contest, nobody is an underdog and we do have respect for all candidates contesting this election but we do believe that we stand taller than any of the contestants. “We are convinced that Nigerians would likely look in our direction because our presidential candidate and his running mate have got the credentials to be able to position our country and recover it from where we are at the moment. “So if a former President under the PDP has decided to pitch his tent with another person is not something that will ruffle us, it will only strengthen us to further deepen our interface with Nigerians for them to understand that where we are headed that Atiku-Okowa are the only ones that have what it takes to lead Nigeria out of the woods.” The presidential campaign spokesman said he was happy that Obasanjo in endorsing Atiku in 2019 made it very clear that Atiku has got the experience and described him as “the President for the time”. “I don’t think anything has changed from his views about the capability of Atiku to address the many challenges confronting us today, the challenges have become more severe which requires a man that has got the experience and candour to be able to deal with these issues. “Our brother Peter Obi was a member of the PDP until not too long ago before he joined the Labour Party, so we do not begrudge him if he now enjoys the support of former President Olusegun Obasanjo. “Most Nigerians do know based on the records of Atiku Abubakar and his running mate Dr Ifeanyi Okowa in the last seven years that these are the individuals that have what it takes to be able to address the challenges of today. He said. According to him, Atiku has the reach both nationally and internationally to unify Nigeria and put it on a strong pedestal in the comity of nations and we are very much convinced that Atiku towers far above other presidential candidates and that is why we are looking forward to Nigerians endorsing us because theirs is the ultimate. Speaking about the face-off between the party leadership and the Governor Nyesom Wike-led G-5 governors, Aniagwu said the party would continue to appeal to them to sheath their sword and join hands to deliver on its rescue mission. He, however, lamented that Wike’s actions in recent times remain inimical to democratic norms and ethos and pleaded with the Rivers Governor to respect the democratic rights of citizens of the state to freely support their preferred candidates without hindrance. Aniagwu said, “We will continue to plead with our leaders who are members of the G-5 because we believe that working with us will smoothen our ride to Aso Rock Presidential Villa. “We also recognise their democratic rights to make choice but as they do so they must recognise the role the party has played in their lives and that is why we are asking them to sheath their sword and return home. “Much as we desire that there should be peace in the party, a peaceful Nigeria is much more than any group and PDP being a group is desirous of a peaceful Nigeria.” He further appealed to Governor Wike to thread softly in Rivers, adding that his recent actions strangulating opposition views in the state was not good for democracy. The PDP campaign spokesperson said, “Governor Wike has to a very large extent progressed in error and we will continue to plead with him that this democratic journey is very important to Nigerians and as such it will not be tolerated by Nigerians for him to continue taking actions that are inimical to the growth and development of democracy in Nigeria. “Revocation of Certificate of Occupancy of those who tend to have divergent views with him is not in line with democratic norms and principles. “Hounding members of the party that don’t agree with him is not also in line with democratic ethos and so while we allow him to have his own choice, he should respect the rights of those who gave him the power which is of course transient and would be over in 5 months time. “If Wike doesn’t like Atiku and Okowa he should think about what the party has done for him right from when he became Chairman of Obiakpo Local Government Council to becoming two time governor of oil-rich Rivers state. “Let him respect the fact that the party has done well for him and return home to help the party to win the election. “This is important because where we are now is not a period for acrobatics but a period to begin to rebuild, recover Nigeria and doing so we need to march together in one accord as members of the PDP which is the only party that is well positioned to lead Nigeria out of the woods.”
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| Politics › Nigeria Will Soar Higher Under Tinubu’s Presidency – APC by myoddsng(op): 2:35pm On Jan 01, 2023 |
The All Progressives Congress (APC) has declared that the world would watch Nigeria soar higher under the presidency of Sen. Bola Tinubu, the party’s presidential candidate in 2023, if elected.https://www.vanguardngr.com/2022/12/nigeria-will-soar-higher-under-tinubus-presidency-apc/amp/ 14 Likes 7 Shares
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