Members of the joint National Assembly Committees on Finance, yesterday, faulted the decision by the President Bola Tinubu-led federal
government to borrow foreign loans despite the fact that the various revenue generating agencies had surpassed their targets in the 2024 fiscal year. Members of the Senator Sani Musa and Abiodun Faleke-led joint committees expressed their disavowal while scrutinising the 2025-2027
Recapitalisation: Banks Have Raised N1.7tn from Capital Market,
www.thisdaylive.com
L-R: Canadian Immigration & Investment Lawyer, Mr Johnson Babalola; former Nigerian Ambassador to Pakistan, Amb Mohammed Bello Abioye; the Celebrant, former United Nations UnderSecretary General & ex-Minister of Foreign Affairs of Nigeria, Professor Ibrahim Gambari; former Nigerian Ambassador to Thailand, Amb Oma Djebah; and the British High Commissioner to Nigeria, Amb Richard Montgomery…at a reception hosted by Savannah Centre for Diplomacy, Democracy & Development (SCDDD) in honour of Gambari in Abuja at the weekend
Vice President
directed the adoption of technologydriven strategies to combat terrorism,
Continued on page 5
Tinubu Ecstatic as 94.43% Non-oil Contribution Grows GDP By 3.46% in Q3
Nigerians should expect better economic output days ahead, president declares Assures of rebasing nation's economy by early 2025 ahead of the $1trn economy by 2030 Oil sector accounted for 5.57%, production improves to 1.47 mbpd in Q3
Deji Elumoye, Ndubuisi Francis and James Emejo in Abuja
President Bola Tinubu has expressed excitement over the third quarter (Q3) Gross Domestic Product (GDP) report released yesterday by the National Bureau of Statistics (NBS), assuring Nigerians of better economic output as the economy continues to expand.
According to the NBS, Nigeria's GDP grew by 3.46 percent, compared to the 3.19 percent growth recorded in the second quarter.
The top contributing sectors to GDP in Q3 2024 were Agriculture (28.65 percent), ICT (16.35 percent), Trade (14.78 percent), Manufacturing (8.21 percent), Crude Oil (5.57 percent), Finance and insurance (5.51 percent), and Real Estate (5.43 percent).
Year-on-year, the economy grew by 0.92 per cent higher than the 2.54 percent recorded in Q3 2023.
Continued on page 5
KWARA'S AMBITIOUS FOOTPRINTS IN CREATIVE SECTOR...
L-R: Director-General, National Institute for Hospitality and Tourism, Abisoye Fagade; Nollywood legend, Kanayo O. Kanayo; and Governor
Best of Nollywood Awards held at the bespoke Sugar Factory Film Studio Ilorin, Kwara State, on Sunday
Deji Elumoye in Abuja
Kashim Shettima has
cybercrime, and border security
Abdulrahman Abdulrazaq (CON), at the 16th
Analysts Urge CBN to End Monetary Tightening Regime, Explore Other Options to Curtail Inflation
Cardoso briefs on committee's deliberations today
James Emejo in Abuja
Analysts yesterday urged the Central Bank of Nigeria (CBN) to endeavour to end its monetary policy tightening stance and hold policy rates at current levels to ameliorate hardship in the country. The advice came as the CBN Governor, Mr. Olayemi Cardoso, prepares to disclose the outcome of the Monetary Policy Committee (MPC) which had convened to assess the state of the economy.
further increased to 33.88 per cent in October compared to 32.70 per cent in September.
The analysts particular called on the committee to consider other measures to check inflation, noting that monetary policy tools alone cannot achieve the desired objectives. No doubt, the high inflationary environment will remain on the front burner as the highline index
The 1.18 percentage increase in the headline index was attributed to rising food and energy prices, despite the current harvest season when food prices are expected to moderate significantly.
The MPC is also expected to review the high Exchange Rate,
currently at about N1,665 to the dollar as well as the not-too-impressive performance of the economy in the third quarter of the year. Specifically, the high interest rate regime, occasioned by the monetary tightening conditions through inflation targeting, and which had led to higher cost of funds in the economy will be remain a source of worry to the central bank.
In separate interviews, analysts further expressed concerns over the widening negative real interest rate regime - which makes the Naira weaker against the dollar, and erode purchasing power among others.
Despite the existing headwinds, they urged the CBN to consider holding the rates constant rather than increase the Monetary Policy
TINUBU ECSTATIC AS 94.43% NON-OIL CONTRIBUTION GROWS GDP BY 3.46% IN Q3
According to the GDP Q3 2024 Report, released by the statistical agency, real GDP stood at N20.12 trillion compared to N18.29 trillion in Q2 2024 and N19.44 trillion in Q3 2023.
The economy was driven by the non-oil sector which accounted for 94.43 per cent while the oil sector contributed 5.57 per cent in the period under review.
The growth in GDP, according to a statement issued yesterday by the media and public communication adviser to the President, Sunday Dare, showed that Tinubu's quest for a more robust boost in the economy and, by extension, a better standard of living for all Nigerians was on course.
An elated Tinubu stated, "I am excited by the latest report from the NBS that our economy grew in the third quarter more than last quarter and even beyond projected estimates.
“While I welcome this development, the latest figure also shows the much work that needs to be done. We won't rest until Nigerians feel the positive impacts in their pockets and experience a better living standard. My administration remains committed to the welfare of our people."
The president stressed that the
3.46 percent growth indicated that Nigeria was recovering from his reforms' unintended effects.
The President said his administration has not and will never forget his promise of a $1 trillion economy by 2030. He assured that once the economy was rebased by early 2025, to capture its dynamism and record significant changes that have occurred in different sectors, the country will be on its way to shared prosperity.
According to the statement, the performance once again showed that the reforms embarked upon by the Tinubu administration to reposition the economy and ensure better fiscal management were beginning to yield fruits.
The proposed tax reforms also indicated the administration's resolve to reduce the tax burden on small businesses and spread prosperity to the poor. The new Tax regime seeks to promote equity by reducing what is known as the headquarters effect—a situation where states where company headquarters are based get more benefits because their taxes for the whole nation are remitted—in favour of spatial and demographic equity.
Furthermore, the NBS report showed
that non-oil contribution decreased on a year-on-year basis compared to the 94.52 percent recorded in Q3 2023 but higher than 94.30 percent recorded last quarter.
The NBS attributed the slight increase in GDP growth rate to an increase in production level within the review quarter compared to Q2.
In nominal terms, aggregate GDP at its current price, stood at N71.13 trillion, a year-on-year, representing a nominal growth of 17.26 percent compared to N60.66 trillion in Q3 2023.
Aggregate GDP was also higher than N60.93 trillion recorded in Q2 2024.
The non-oil sector performance was further attributed to growth in economic activities, particularly crop production, trade, telecommunication, and real estate.
The sector grew by 3.37 percent in real terms compared to 2.80 percent in Q2.
On the other hand, the oil sector recorded an average daily oil production of 1.47 million barrels per day (mbpd) in the review quarter compared to 1.41 mbpd in the preceding quarter and 1.45 mbpd in Q3 2023.
The oil economy recorded real growth of 5.17 percent year-on-year in Q3, indicating a decrease of 4.98
percent compared to 10.15 percent in Q2.
Agriculture contributed 28.65 percent to GDP in real terms in Q3 compared to 22.61 percent in the preceding quarter, and 29.31 percent in Q3 2023.
However, the sector's growth declined by 1.14 percent, year-on-year in real terms, compared to 1.41 percent in the preceding quarter.
The manufacturing sector contributed 14.30 percent to GDP in Q3 compared to 12.68 percent in Q2 and 16.18 percent in Q3 2023.
The sector grew by 3.62 percent, year-on-year, compared to 1.91 percent in Q2, and a decline of 32.97 percent compared to 36.59 percent in Q3 2023.
Also, the construction sector contributed 7.49 percent compared to 8.45 percent in the preceding quarter and 8.43 percent in Q3 2023. The sector grew by 2.91 percent, year-on-year.
Also, in Q3, trade contributed 12.67 percent to GDP compared to 15.95 percent in Q2 and 11.06 percent in Q3 2023. The sector grew by 0.65 percent year on year compared to 0.70 percent in the preceding quarter.
Finance and insurance subsector contributed 4.72 percent to growth in Q3 compared to 6.39 percent in Q2 and 3.17 percent in the corresponding
SHETTIMA CANVASSES TECH-DRIVEN STRATEGY TO COMBAT TERRORISM, BORDER SECURITY
challenges facing Nigeria and the entire African continent.
Shettima said while Africa and Nigeria were currently navigating some of the most troubling times in areas such as security and economy, the challenges required innovative solutions.
Speaking yesterday in Abuja, when he received in audience members of Executive Intelligence Management Course 17 from the National Institute for Security Studies (NISS), Shettima acknowledged the current security and economic challenges in Nigeria.
He said, “Africa and Nigeria are currently navigating some of the most troubling times, especially in the security and economic arenas.
Fiscal Strategy Paper (MTEF-FSP)
They wondered why the federal government should ask for a $2.2bn this year when it claimed that it had gained over $20bn as a result of the oil subsidy removal.
Senator Adamu Aliero (PDP Kebbi Central), asked: "What is the federal government doing with excess revenues generated by the various agencies in view of its unending request for for foreign loan approval?"
But responding, the Chairman of the Federal Inland Revenue Service (FIRS), Zacchaeus Adedeji, said loans being requested for by the executive were already part of the 2024 budget. He also said the National Assembly had approved the loans earlier, when they considered and passed the 2024 Appropriation Bill.
“The fact that we meet revenue targets, does not mean we should not go and borrow and the reason is simple. The budget we have has both borrowing component and internally generated revenue component.
“So it is total package, our borrowing target is there in the budget as approved by the National Assembly,” he said.
Advancing a similar reason, the Minister of Budget and Economic
“The challenges we face require innovative solutions, and AI presents a vista of opportunities to address issues in agriculture, healthcare, financial inclusion, and security.”
Referencing Franklin D. Roosevelt’s famous words, the vice president urged resilience, saying, “The only thing we have to fear is fear itself.”
Shettima highlighted the successful implementation of security measures by the governor of Enugu State, Peter Mbah, stating, “He has effectively curbed the excesses of those exploiting our security vacuum to cause havoc. This is a testament to what can be achieved with the right strategies.”
Shettima also spotlighted Nigeria’s
Planning , Senator Atiku Bagudu, said the federal lawmakers should not forget that the borrowing plans contained in the N35.5trillion 2024vbudget were primarily meant to fund the deficit, which is N9.7trillion.
He said, despite revenue targets surpassing by some of the revenue generating agencies, government still needed to borrow for proper funding of the budget, particularly in the area of deficit and productivity for the poorest and most vulnerable . He said, "We have a long term development perspective plan agenda 2050 aiming at GDP per capital of $33,000."
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, also explained to the lawmakers that borrowing was still needed for proper funding of the budget despite increased revenues made by some agencies.
The revenue generating agencies in their separate presentations before the joint committees on the 2024 budget performance and revenue projections for N49.7trillion 2025 budget, made excess revenue target submissions in the 2024 fiscal year.
First to make the submission was the Comptroller-General of
youthful population, with an average age of 16.9 years, as a significant asset.
He stated that advancements in artificial intelligence (AI) presented significant opportunities for improvement in critical sectors of the economy.
“Africa is the youngest continent, and our tech-savvy youth are essential in bridging the skill gaps needed to tackle these challenges. Where there is a will, there is always a way,” he affirmed.
The vice president pointed to successful Nigerian unicorns, such as Moniepoint, Interswitch, Flutterwave, and OPay, saying, “Despite our infrastructural deficits, these companies demonstrate that with innovation
Nigeria Customs Service (NCS), Bashir Adeniyi, who said by 30th of September this year, Customs had raked in N5.352trillion revenue, which was above N5.09 trillion targeted for the entire 2024 fiscal year.
He added that N6.3trillion was targeted as projected revenue for 2025, a 10% increase of which would be the revenue target for 2026 and additional 10% increase for 2027 fiscal year.
The Group Chief Executive Officer (GCEO) of Nigerian National Petroleum Company (NNPCL), Mr Mele Kyari, in his presentation, said the company exceeded the N12.3trillion revenue projected for 2024 by already raking in N13.1trillion.
"For the 2025 fiscal year, N23.7trillion is projected by NNPCL to be remitted into the federation account," he said.
The Chairman of FIRS, Adedeji further informed the joint committees that FIRS had surpassed targeted revenues across the various tax components.
He said on the Company Income Tax, N4trillion was targeted but that N5.7trillion had been realised now.
“On Education tax, while N70
and determination, we can achieve remarkable success.”
Shettima challenged leaders and participants to remain optimistic and proactive.
He said, “Let the challenges we face inspire us to put in our best efforts. Our youth hold the key to AI-driven progress in agriculture, health, and finance. Together, we can overcome the obstacles and build a prosperous future for Nigeria and Africa.”
The vice president said, “AI can help us combat emerging threats like terrorism and cybercrime, while also enhancing border security. By leveraging technology, we can replicate African success stories and apply them domestically.”
billion was targeted, a total of N1.5trillion has been realised.
"All in all, out of N19.4trillion targeted for 2024 fiscal year, N18.5trillion was realised as at the end of September, which clearly shows that the target will be far exceeded by the end of the year," he said.
However, the Immigration Service of Nigeria, ran into troubled waters at the interactive session over lopsided Private Public Partnership arrangements on Passport production, which gave consultancy firm 70% of proceeds and government 30%.
The Chairman of the Senate Committee, Senator Sani Musa, ordered Immigration to present all the documents on the unacceptable PPP arrangement to the committee before the end of the week.
"The so-called PPP arrangement must be reviewed or cancelled because Nigeria and Nigerians are seriously being short changed,” he said Edun, however, said Tinubu had stopped the era of sudden wealth by floating the naira, and removing the subsidy on petroleum products.
“Just today, the National Bureau of Statistics, by the Statistician General,
quarter of 2023. According to the Nigeria Labour Force Survey (NLFS) Q2 2024 Report, also released by the NBS, the labour force participation rate among the working-age population increased to 79.5 percent in Q2 from 77.3 percent in Q1.
Employment-to-population ratio was 76.1 per cent, an increase of 2.9 per cent compared to 73.2 per cent in Q1.
The combined unemployment rate and time-related underemployment as a share of the labour force population (LU2) decreased to 13 percent in Q2 2024 from 15.3 percent in Q1 2023.
Moreover, the informal employment remained high at 93 percent.
The NBS noted that the unemployment rate among youth aged (15-24 years) was 6.5 percent in Q2.
Unemployment in urban areas stood at 5.2 percent, significantly higher compared to 2.8 percent in rural areas.
The report added that time-related underemployment in Q2 dropped to 9.2 percent from 10.6 percent in Q1. It stated that 3.7 percent of the working-age population was in subsistence agriculture, adding that the percentage of youth Not in Education, Employment, or Training (NEET Rate) stood at 12.5 percent.
The report further pointed out that the rate of informal employment among people living in rural areas was 97.5 percent, while the urban informal employment rate was estimated at 90 percent.
Also, underemployment rate, the share of employed people working less than 40 hours per week and declaring themselves willing and available to do more hours of work, stood at 9.2 per cent.
This indicated a decline compared to 10.6 per cent in the preceding quarter, the NBS added.
However, reacting to the economic performance, a financial expert, Prof. Uche Uwaleke, lamented that the present economic headwinds occasioned by high interest and
announced that GDP growth in the third quarter was 3.46, let us say, for the sake of round numbers, 3.5%.
“That means that the GDP per capital is increasing, it's improving. The economy is moving in the right direction.
“Inflation is too high and that is why interventions are being made particularly for the most vulnerable.
“Let me just summarise the change by saying that in Nigeria, for the first time in four decades, we have market prices of the petroleum products being determined by market forces.
“This is because the local refinery is not only producing not just PMS but also diesel, or jet fuel. Well, it's producing raw materials for industry. It's producing raw materials for agriculture
“In addition, we have market pricing of foreign exchange. And of course, the two are related.
“For the first time in 40 years, no Nigerian can wake up and think that his way to fortune and the quickest path he can take to getting rich is by getting an allocation of foreign exchange from the Central Bank of Nigeria (CBN).
“Likewise, no Nigerian can wake up and feel that his quickest path
exchange rates were hurting the manufacturing sector the most as evidenced by the downward trend in performance since the first quarter (Q1) 2024.
In a position paper sent to THISDAY, Uwaleke, a former Commissioner for Finance in Imo State and currently, the Director, Institute of Capital Market Studies, Nasarawa State University, observed that there has been steady improvement in real GDP growth since Q1 2024 powered by growth in the non- oil sector. Uwaleke noted that oil sector performance declined in Q3 compared to Q2 despite slight improvement in crude oil production suggestive of lower crude oil prices during Q3, adding that average crude oil output over the three quarters was below 1.5mbpd.
"The present economic headwinds occasioned by high interest and exchange rates are hurting the manufacturing sector the most as evidenced by the downward trend in performance since Q1 2024
"The transport sector recorded significant improvement over the previous quarter although its contribution to GDP appears insignificant at less than one per cent.
"The financial sector grew by over 30 percent. Given weak growth rates of the Agric and manufacturing sectors, this is one evidence that the financial sector is disconnected from the productive sectors of the economy
"In my view, this identified growth pattern, weighted in favour of the services sector, is not healthy for a developing economy such as ours. Little wonder, economic growth does not appear inclusive reflecting in rising unemployment and poverty levels.
"It is time we reset this faulty economic structure, leveraging technology, in favour of the productive sectors: Industry and Agriculture.
"Indeed, structural change is strongly recommended by UNCTAD as one of the ingredients of building productive capacities," he added.
to riches is to look for a subsidised allocation from the Nigerian National Petroleum Corporation Limited (NNPCL) and make money.
“So by the time you have market pricing of petroleum products, market pricing of foreign exchange, it will send all the right signals and then as well as we have to be financially disciplined to pay our debts, to pay our wages.
“We have the basis of an economy that can grow, a society that can develop, and people can be proud of.”
The Director General of the Budget Office, Taminu Yakubu, expressed a better fiscal year in 2025 He said, “We certainly expect a substantial reduction in the rate of inflation next year. And the reasons obvious. We have been observing trends in the economy. We're expecting a robust bumper harvest this year, and this normally accounts for 40% of our inflation.
“We are also reducing importation of PMS and diesel, and at the same time, for the first time, exporting some of these refined products on
Cardoso
Rate (MPR), the benchmark interest rate which determines the cost of funds.
UBA FRAUD AWARENESS WEEK...
L-R: Ag Head Industry Fraud Desk, Nigeria Inter-Bank Settlement System (NIBSS), Oluwatosin Obadimu; Panelist, Yahaya Itia, Audit Advisor, United Bank for Africa (Plc), Mercy Okwara; Ag. Chief Internal Auditor, UBA, Kayode Ajayi; Head, Customer Fulfilment Center, UBA, Uzoamaka Onyeka; Head Cybercrime Investigation, Economic and Financial Crime Commission (EFCC), Abbah Sambo Usman; Head Business Development, MTN, Chenosis, Joshua Chijioke and Head, Investigation, Disputed Charges & Fraud Mgt, Johnson Onyiriuka at UBA Fraud Awareness Week, themed: ‘Collaborative Action Against Sim Theft and Mobile Number’, held at the UBA House, Marina on Friday
Recapitalisation: Banks Have Raised N1.7tn
from Capital Market, SEC Reveals
Raises concerns over rising tendencies of ponzi schemes Partners NFIU to get Nigeria delisted from FATF grey list
Ndubuisi Francis in Abuja
Nigerian banks have raised about N1.7 trillion from the capital market in pursuit of the new recapitalisation hurdle stipulated by the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC) revealed yesterday.
The Director General, SEC, Dr. Emomotimi Agama, who made the disclosure in Abuja at the Commission's 2024 Journalists' Academy with the theme, "Fintech: Leveraging Technology to Drive Capital Market Participation," put the total amount raised from the capital market by banks and other entities, since last year at N2.7 trillion.
The aggregate was made up of equity capital, excluding the amount raised by fund managers in the market.
Agama pointed out that of the total funds raised from the market, N1.7 trillion was by banks through their recapitalisation exercise.
He said: "As you are aware, we came on board with an important banking recapitalisation exercise which we can declare has been successful. About N1.7 trillion has been raised
so far from the market. "This exercise will enhance financial stability and bolster investor confidence and improve the Nigerian economy."
Highlighting the importance of the workshop, the SEC chief executive underscored the Commission's shared responsibility in promoting transparency, confidence, and awareness within the Nigerian capital market.
Agama argued strongly that short-term funds cannot develop the country, adding that the capital market remains the veritable source of long-term financing needed to develop the economy.
Providing an update on the economy, he stated that macroeconomic indicators had reflected notable shifts, noting that since the current management took over the leadership of the Commission, it had taken significant steps to reposition its operations.
Some of the steps include the creation of specialised departments to focus on some of the developments in the markets and ensure proper regulation, creation of a Fintech and Innovation Department and a Derivatives and Risk Management Department,
creation of an office of Municipal Bond, Office of Business Advocacy and Capital Formation, as well as Office of Unclaimed Monies and Office of Power Supply.
The SEC DG highlighted the importance of these departments in regulating crypto-assets, derivatives, and forex CFDs, as well as tackling longstanding issues such as unclaimed dividends to address financial innovation, emerging risks and improve the service delivery of the Commission.
Agama noted the significant progress in registering Capital Market Operators (CMOs), including on-boarding FinTechs under the Commission's Regulatory Incubation Programmes (RIP and ARIP).
He acknowledged Nigeria's efforts to exit the Financial Action Task Force (FATF) grey list, noting that SEC was working with the Nigerian Financial Intelligence Unit (NFIU) to ensure the delisting of Nigeria from the global anti-money laundering watchdog's grey list.
According to him, exiting the grey list was crucial for the development of the financial sector.
He revealed that SEC was among 11
ministries, departments and agencies (MDAs) across Nigeria which achieved 100 per cent implementation of recommended reforms, strengthening Nigeria’s business environment and ensuring it remains a model for regulatory excellence.
"We have made significant progress in registering Capital Market Operators (CMOs), including on-boarding FinTechs under our Regulatory Incubation Programmes (RIP and ARIP). This effort ensures that our regulatory framework is inclusive and forward-looking.
"As you are aware, we came on board with an important banking recapitalisation exercise which we can declare has been successful. About N1.7 trillion has been raised so far from the market.
"This exercise will enhance financial stability and bolster investor confidence and improve the Nigerian economy.
"The SEC is also actively working with the Nigerian Financial Intelligence Unit (NFIU) to ensure Nigeria exits the FATF grey list.
This is crucial for the development of the financial sector.
“This collaborative effort when
Oil Price Falls over 2% on Possible Israel, Lebanon Peace Deal
Emmanuel Addeh in Abuja
Oil prices fell more than 2 per cent yesterday after multiple reports that Israel and Lebanon had agreed to the terms of a deal to end the IsraelHezbollah conflict, citing unnamed senior US officials.
Brent crude futures were down 2.45 per cent, or $1.84, at $73.34 a barrel, while US West Texas Intermediate crude futures were down 2.81 per cent or $2.00, at $69.24 a barrel.
Israel yesterday said it was moving toward a ceasefire in the war with Hezbollah but there are still issues to address. Lebanese officials voiced guarded optimism but said Israeli Prime Minister, Benjamin Netanyahu, was not to be trusted.
Both Brent and US WTI contracts last week notched their biggest weekly gains since late September to reach their highest settlement levels since November 7 after Russia fired a hypersonic missile at Ukraine in
a warning to the United States and the UK following strikes by Kyiv on Russia using US and British weapons. Also, Israel's cabinet will meet today to approve a ceasefire deal with Hezbollah, a senior Israeli official said, while a Lebanese official said Beirut had been told by Washington that an accord could be announced "within hours".
The signs of a diplomatic breakthrough were accompanied by heavy Israeli airstrikes on Beirut's Hezbollah-controlled southern suburbs, as Israel pressed on with the offensive it launched in September after almost a year of cross-border hostilities.
Prime Minister, Netanyahu's office declined to comment on reports that both Israel and Lebanon had agreed to the text of a deal. But the senior Israeli official told Reuters that a cabinet meeting was intended to approve the text.
Israeli officials had said earlier that a deal to end the war was getting
closer though some issues remained, while two senior Lebanese officials voiced guarded optimism even as Israel continued to bombard Lebanon and Hezbollah kept up rocket fire.
Israel's ambassador to the United Nations, Danny Danon, said Israel would maintain an ability to strike southern Lebanon under any agreement. Lebanon has previously objected to wording that would grant Israel such a right.
The US has pushed for a deal to end over a year of hostilities between Iran-backed Hezbollah and Israel, which erupted in parallel with Israel's war against Palestinian Islamist group Hamas in Gaza, and has drastically escalated over the last two months.
In Beirut, Elias Bou Saab, Lebanon's deputy parliament speaker, told Reuters there were "no serious obstacles" left to start implementing a US.-proposed ceasefire with Israel, "unless Netanyahu changes his mind".
He said the proposal would entail
an Israeli military withdrawal from south Lebanon and regular Lebanese army troops deploying in the border region, long a Hezbollah stronghold, within 60 days.
A sticking point on who would monitor compliance with the ceasefire had been resolved in the last 24 hours with an agreement to set up a five-country committee, including France and chaired by the United States, he said.
A Western diplomat said another stumbling block had been the sequencing of Israel's withdrawal, the Lebanese army's deployment and the return of displaced Lebanese to their homes in south Lebanon.
Meanwhile, hostilities have intensified in parallel with the diplomatic flurry. Over the weekend, Israel carried out powerful airstrikes, one of which killed at least 29 people in central Beirut, while Hezbollah unleashed one of its biggest rocket salvoes yet on Sunday, firing 250 missiles.
successful, will ensure the international financial credibility of the Nigerian financial system and avert economic sanctions.
"The Presidential Enabling Business Environment Council (PEBEC) set up a 90-day Regulatory Reform Accelerator Programme earlier in the year. The programme was meant to improve service delivery across MDAs and for us this speaks to attracting both foreign and domestic investors by improving disclosures and access to relevant information."
Agama, who also underscored efforts of SEC to improve the capital markets in Nigeria by updating its enabling law, which is the Investment Securities Act 2007, expressed concerns
over the growing tendencies towards ponzi schemes in the country.
He urged journalists and other Nigerians with information on individuals or groups involved in ponzi activities to bring such to the notice of the SEC, assuring of the Commission's readiness to maintain their confidentiality and dealing decisively with the perpetrators of such schemes.
Agama disclosed that the SEC had approved the N250 billion Ministry of Finance Incorporated's Real Estate Investment Fund (MREIF) to tackle housing deficit in Nigeria by enabling affordable mortgage financing, which aligns with the federal government’s One Million Homes Initiative.
Over 100 Companies to Participate in Abuja China-Africa Trade Expo
Michael Olugbode in Abuja
The organisers of the China-Africa Economic and Trade Expo have announced details for the upcoming event, scheduled to take place in Abuja from November 28th to 30th, 2024.
The trade expo will not only showcase a broad range of products but will also place significant emphasis on Chinese engineering technology.
According to a statement from the organisers, over 100 companies are expected to participate in the trade exhibition, the second of such in Africa after an earlier one held in Nairobi early this year.
The organising committee, which includes more than eight agencies affiliated with Hunan Province in China and the Nigerian Federal Trade Agency, confirmed that the expo will be held at the Abuja Trade & Convention Centre.
"The theme of this year's expo is “China and Africa Joining Hands for a Better Future,” and will feature a series of activities across multiple sectors, including investment and trade, infrastructure, healthcare, and engineering machinery.
The opening ceremony and the China-Africa Infrastructure Cooperation Forum (Nigeria) will commence at 10 am. This forum will address the opportunities and challenges in China-Africa infrastructure cooperation, facilitating in-depth discussions on
critical topics such as infrastructure connectivity, innovative investment and financing models, green and sustainable development, and business transformation. The forum aims to bring together stakeholders for meaningful exchanges and cooperation, promoting the signing and implementation of key projects."
"This event will introduce leading enterprises from Hunan and present the investment and trade environment in various African countries through representatives from African chambers of commerce, investment promotion agencies, and businesses.
“Key focus areas will include healthcare, new energy, manufacturing, construction materials, textiles, fisheries, and infrastructure development, facilitating “one-on-one” discussions between Hunan enterprises and African business associations."
On the first day of the expo, there will also be an exhibition showcasing engineering technology from Nigeria and China, which will continue until the final day.
The exhibition will feature nine distinct areas, highlighting products in: New energy, Architecture (building hardware), Machinery (construction machinery & agricultural equipment), power transmission and transformation), Home Appliances & Furniture, Manufacturing, Pan-infrastructure, Circular Economy, and Comprehensive Area.
JOINT COMMITTEE OF SENATE AND HOUSE'S INTERACTIVE SESSION..
Olisa Agbakoba Predicts Nigeria’s Budget to Hit N100trn by 2026
Says N50trn 2025 proposed budget can unlock N500trn revenue by 2030
Sunday Ehigiator
Senior Partner, Olisa Agbakoba Legal, Dr. Olisa Agbakoba, has predicted that Nigeria’s annual budget could hit N100 trillion by 2026, adding that the country’s proposed N50 trillion 2025 budget has the potential to unlock a massive N500 trillion revenue by 2030. He also called on the government to end wastage in governance, institute free primary and secondary education, and provide free healthcare services modelled after the United Kingdom’s (UK) NHS. In a statement yesterday,
Agbakoba said, “I was not surprised that our national budget has reached N50 trillion for 2025. I predicted this possibility five years ago. We are simply not collecting potential revenue.
“Thanks to two men, the possibility of hitting a N100 trillion budget by 2026 is viable. We are concentrating on the tax side of revenue and ignoring the governance side.
“If the twin effort of tax and governance revenue is escalated, we ought to hit N500 trillion budgets annually by 2030. To do this requires innovation.
37 Heads of Service to Hold Retreat in Singapore
Olawale Ajimotokan in Abuja
The Head of Civil Service of the Federation, Mrs Didi Esther Walson-Jack and the heads of service of the 36 states of the federation and the FCT will embark on a retreat in Singapore to study the country’s civil service.
She disclosed this yesterday in Abuja, while addressing the media on the milestone attained by the service in her first 100 days in office.
Walson-Jack said the proposal was one of the concepts under discussion with the United Nations Development Programme (UNDP) on ways to improve the civil service in Nigeria.
She also revealed that the discussions with the UNDP’s Country Representative also explored a Memorandum of Understanding that will cover the training of key personnel of Public Service Institute of Nigeria at the Global Centre for Public Service Excellence in Singapore.
In addition, she stressed when she read Nigeria’s statement on Agenda Item 22 (Eradication of Poverty) and Item 24 (Agriculture, Food Security, and Nutrition) at the UN General Assembly in New York, she met with the Deputy Secretary General of the UN, Amina Mohammed, to collaborate on capacity building and digitalisation initiatives.
She said those opportunities enabled the parties to highlight Nigeria’s commitment to global development goals and to learn from international best practices.
She added that she had interacted with key stakeholders, including the Senate and House Committees on Public Service Matters on her reform agenda to solicit their feedback and ensure legislative support for key initiatives.
Walson-Jack described the first 100 days in office as a significant milestone that offers an opportunity to reflect on the achievements recorded, perform a thorough audit of progress and identify the goals ahead.
“Since assuming office on 14 August 2024, my commitment has been clear: to fast-track, accelerate and sustain the reforms outlined in the Federal Civil Service Strategy and Implementation Plan 2021–2025 (FCSSIP 25). This strategy is the blueprint for transforming the Civil Service into a professional, efficient, and globally competitive institution. To this end, we set up and inaugurated seven “war rooms,” each dedicated to overseeing one of the six pillars of the FCSSIP reforms and the enablers. These war rooms ensure that no initiative is neglected, and that progress is both measurable and impactful,” she said.
“First bureaucratic procedures must give way to practical outcomes. The second is big leadership. Third is easing the hardship in the land by quantitative easing and big-ticket palliatives so that all fees are waived at primary and secondary schools and health care is made free like the NHS in the UK.
“More imaginative palliatives are urgently needed to cushion the impact of the tough correction in
progress. I always recommended a department of efficiency innovation and transformation to cut waste.”
According to him, “Donald Trump has appointed Elon Musk to perform this task in the United States. Part of the success of Margaret Thatcher was her Efficiency office. There is far too much waste of government resources in Nigeria that an effective efficiency can cut significantly.
“We need to see substantial
borrowing to get manufacturing off the ground. There will be no production if we don’t cut waste and consumption.
“I look forward therefore, to a lean government shedding excess weight by the federal government unloading power to states and local governments.
“Government must let go of its unnecessary hold on Education. The decades of underfunding of
ASUU may be resolved by making education autonomous from tight government control.
“I believe an effective and efficient government can deliver a good quality of life to Nigerians. Inflation will go down if productivity improves. These steps are easy but require major leadership decisions. The pain all Nigerians feel at present is completely resolvable with new tools applied.”
Tinubu Tasks N'Assembly on Proper Funding of Space Programme
President Bola Tinubu has called on the National Assembly to prioritise funding for Nigeria’s space programme to ensure the nation plays a leading role in the fourth industrial revolution.
The President gave the charge yesterday, at the celebration of the event, ‘Nigeria’s 25 Years in Space and Technology,’ organised by the National Space Research and Development Agency, at the Banquet hall of the State House, Abuja.
Tinubu who was represented by Minister of Innovation, Science and Technology, Chief Uche Nnaji, called for the strengthening of the Act establishing the National Space Research and Development Agency to help the Nigerian space ecosystem become vibrant in its engagements, locally and internationally.
He further called for efforts to ensure the integration and mainstreaming of the private sector into the heart of Nigeria’s space program to enable the country to maximise opportunities in the coming years for national development.
According to him: "Great effort should be made to ensure that the private sector is mainstream into the heart of our space program for us to do more in the coming years for our national development.
“I am glad that we have a good number of the legislators here to celebrate this milestone together. I
therefore called upon our legislature to prioritise the funding for our space programme to ensure we play a leading role in this fourth industrial revolution. There is also a need to strengthen the Act that established NASRDA to help the Nigerian space ecosystem to be more vibrant in its engagements, locally and internationally.
“Similarly, the sector will require improved budgetary support to be able to accomplish its programmes, whose outcomes can bring massive socio-economic dividends to Nigeria and her citizens.
“This will also solidify Nigeria’s standing as a leading space-faring country in Africa and further boost her image to competitively attract foreign direct investment because of our locational advantage for cheaper launching services.”
The President assured NASDRA and all stakeholders of his support in meeting future challenges and exploring better dividends of science and technology for Nigeria’s greatness.
He expressed hope in the nation’s space ecosystem, assuring that the years ahead will see Nigeria maintain her leading position in Africa as well as engage more with other space-faring nations.
His words: “The years ahead are likely to be very challenging because of the ever-changing developments in science and technology, but it is a journey that I am determined to
robustly support.
“The sector promised to bring better and greater dividends to our country than had been experienced. It is my wish that the years ahead will see the Nigerian Space Ecosystem flourishing and doing much better, maintaining its leading position in Africa, and engaging more with the other spacefaring nations to contribute to our national socioeconomic development and the safety of our nation and the world at large".
Tinubu lauded NASRDA’s efforts in engaging the benefits of space to further facilitate national development and noted the development and launch of major space programs such as the development of indigenous human capacities in space science and technology as well as the production and launch of space satellites to outer orbits.
The President said: “I am aware that in the quest by NASRDA to bring the benefits of space for national development, it has developed and launched major space programmes.
“Some of those programmes include the development of Indigenous human capacities in space science and technology; the production and launch of space satellites to outer orbits to provide various socioeconomic and environmental services; collaboration with the Nigerian Military to develop capacity in the use of space for tactical services; and increased involvement of the private-public, and institutional
participation in space activities.
“Some of these efforts have yielded a lot of good dividends such as the creation of the Nigerian Communications Limited (NigComsat Ltd.), a leading institution in satellite communications in Africa.
“Similarly, through the strategic partnership with the Nigerian Military, the Defence Space Administration (DSA) was created to widen the use of space by the Nigerian Military, as it is done in the advanced countries of the world.
“Today, the Synergy between NASRDA, NigComsat Ltd., and DSA has led to tripodal support upon which an advanced and more robust national space programme will be built shortly.
“All these giant strides made by this important sector of our dear country are notable and noble with the launch of seven satellites and effort in top gear to launch an additional four satellites within the lifespan of this administration".
Also speaking, Minister of Innovation, Science and Technology, Nnaji, said the projected $ 1.8 trillion global space economy will influence industries such as supply chain logistics, agriculture, defence and digital communications in the country. Nnaji added that the targeted sectors are expected to generate over 60 percent of new economic value from space-enabled technologies for Nigeria.
Deji Elumoye in Abuja
MANY CONGRATULATIONS...
L-R: Lagos State Governor, Mr Babajide Sanwo-Olu, in a congratulatory handshake with the Lagos State Auditor General and Permanent Secretary, Dr Adetola
Lagos House, Ikeja.
Nigeria to Lose N500bn Monthly Economic Benefit as FG, Lagos Ban Single-use Plastic Bags
Peter Uzoho
Stakeholders in the plastics sector in Nigeria have warned that the implementation of the proposed ban on single-use plastics commonly known as nylon bags will hurt the nation's economy to the tune of N500 billion monthly loss if the policy goes ahead.
As part of measures to address climate change issues emanating from the dumping of plastic wastes on drainage systems, landfills, roads, marine spaces and public places, the
federal and Lagos state government's had announced the ban on single-use plastics in Nigeria from January 2025. But reacting to the proposed ban, some stakeholders within the plastics manufacturing sector kicked against the government's rush to implement the ban which they claimed did not emanate from an inclusive and sustainable solution-based discussion with all critical stakeholders.
In their position paper sent to THISDAY, yesterday, the concerned stakeholders, who did not want their
identities in print, said there was a need to have a common position among all the critical stakeholders within the plastic value chain industries to government on the sustainable management of plastic waste and an inclusive national plastic strategy and policy which will vigorously promote recycling and circular economy model rather than an outright ban of the plastics. They argued that plastics are an important daily life item and necessity in Nigeria with widespread use and a critical value chain across
the country with stakeholder activities in the upstream, midstream, and downstream sectors.
According to them, the plastic industry is the largest light industry in Nigeria today since the collapse of the textile industry, employing millions of workers and contributing over 500 billion monthly to the economy.
They explained that plastic bags are the most practical and convenient packaging option for businesses and consumers, saying it is affordable to ordinary people, has an energy-saving manufacturing process and a low
Alake Gives Environmental C’ttee 90-day Ultimatum to Improve
The Minister of Solid Minerals Development, Dr. Dele Alake, has given the Mineral Resources and Environmental Management Committee (MIREMCO) a 90day ultimatum to improve its performance or face severe sanctions from the federal government.
Speaking at the 2024 Annual General Meeting (AGM) of MIREMCO chairmen, Alake expressed his dissatisfaction with the agency's current performance, emphasising that it is MIREMCO's
core responsibility to interface between sub-nationals, local communities, operators, and the federal government to minimise conflicts.
"The federal government is supposed to rely on your reports on the activities or inactivity of operators and whether they comply with environmental regulations and all other sundry regulations governing the sector.
“We are not impressed by the execution of that mandate, and we will not hesitate to wield the big stick if after 90 days the committee
fails to turn a new leaf, "the minister asserted.
Quoting from the Nigeria Minerals And Mining Act (NMMA) 2007, Section 19, sub-section 3g, which makes it mandatory for MIREMCO to act as a liaison between the subnational authorities, the local governments, the communities and the operators, Alake stressed that the provisions of the act had not been effectively executed by the committee.
"If provisions of the act had been effected by MIREMCO, the spate of interference that we witness by the sub-nationals, in some instance, local
governments shutting down mines, making policy pronouncements that are outright unconstitutional would have been minimal.
“It is the failure of this body that has given rise to states dabbling into areas that are beyond their constitutional purview," he maintained.
Emphasizing the role of subnational authorities in MIREMCO’s operations, Alake noted that the chairmen and five out of 10 committee members are nominated by state governments, ensuring their interests are already represented under the committee’s statutes.
proportion of solid waste.
Compared with paper bags, the stakeholders argued that the energy consumed in the plastics manufacturing process is reduced by 40 per cent and the solid waste
generated also reduced by 70 percent. "It is an extremely lightweight storage option that does not require a lot of storage space and is easy to transport, reducing the carbon footprint of transportation.
James Emejo
The Delta State Government’s Commission of Inquiry set up to investigate allegations of land seizure leveled against the Obi of Ogwashi-uku, His Royal Majesty, Dr. Ifechukwude Aninshi Okonjo II, has vindicated the monarch.
The commission concluded its sittings after hearing over 32 submissions from the public, resulting in the vindication of Okonjo, through certified evidence presented and the
cross examination of witnesses. Petitions were heard from Azagba Ogwashi-Uku community representatives and one Apostle Emwenwa, who represented Mr. Chiedu Onwadiamu.
The Azagba Ogwashi-Uku community had accused the Obi of illegally bulldozing structures near Delta State Polytechnic.
However, during crossexamination, Adingupu, the community’s representative, admitted that the land in question was part of the 500 hectares legally awarded to
the Obi of Ogwashi-Uku Kingdom by court judgments delivered by the current Chief Judge of Delta State, Justice Theresa Diai.
Barrister Chike Onyemenam, SAN, representing the Obi, tendered incontrovertible evidence, including court judgments, a warrant of possession, and a certificate of possession, proving the land’s rightful ownership. He further disclosed that the immediate past Obi had designated the area for a planned mega city, only for members of Azagba Ogwashi-Uku
to illegally sell portions of the land to traders.
Over 120 fraudulent deeds of conveyance and applications for ratification by buyers were submitted to the commission as evidence.
Notably, Adingupu failed to produce any documentation to support claims of land sales by the Obi.
Instead, Onyemenam presented overwhelming evidence of the Obi’s efforts to recover OgwashiUku communal lands from illegal encroachments.
Says FG focused on women empowerment policies
Deji Elumoye in Abuja
Vice President Kashim Shettima has reaffirmed the Federal Government's dedication to advancing gender equity through transformative policies.
He emphasised the indispensable role of women in building a balanced and equitable society.
Shettima made this disclosure on Monday during the H.I.D. Awolowo Foundation Webinar in commemoration of the 109th posthumous birthday of wife of late Chief Obafemi Awolowo, Chief Hannah Idowu Dideolu Awolowo.
The Vice President called for renewed national efforts to create an inclusive society where women are empowered to lead and thrive, saying, "Every nation’s treatment of women serves as the ultimate marker of its civilization.
"We cannot claim to have evolved as a nation unless we recommit ourselves to creating a society that offers women unconditional dignity and opportunity," he added.
Shettima paid glowing tribute to the late Chief Hannah Awolowo, describing her as a "matriarch like no other and a jewel of inestimable value."
He lauded her contributions to modern Nigeria, noting her unwavering support for her husband, Chief Obafemi Awolowo, and her advocacy for women’s rights.
According to him: "Mrs. Awolowo’s courage and influence were instrumental in shaping policies like free education in the Western
Region. This is what an empowered woman can achieve".
On the historical struggles for women’s rights, the Vice President referenced the activism of global pioneers like Susan B. Anthony and Nigerian icons such as Mrs. Funmilayo Ransome-Kuti and Hajiya Gambo Sawaba.
"These trailblazers compelled us to confront the structural inequalities holding women back. Thanks to their efforts, the conversation has expanded beyond suffrage to include workplace equality, reproductive rights, and the fight against domestic violence," he stated
Shettima also pointed to the transformative impact of technology, noting how digital platforms have amplified women’s voices and driven legislative victories like the Violence Against Persons (Prohibition) Act of 2015.
"This landmark legislation is a testament to the power of women-led advocacy and their determination to create a safer, fairer society," he said. The Vice President further reiterated the importance of representation and leadership opportunities for women, even as he praised President Tinubu for his inclusive governance, shaped by the legacy of his mother, Alhaja Abibatu Mogaji, a formidable women’s rights advocate.
"Her legal battle for personal liberty set a precedent in our constitutional history, reminding us that women’s rights are human rights and must never be negotiable," he noted.
in Abuja
Folalumi Alaran in Abuja
Muyiwa John, during the swearing-in ceremony at the
L-R: Vice President, Chartered Institute of Taxation of Nigeria (CITN), Mr. Innocent Ohagwa; President/Chairman of Council, CITN, Mr. Samuel Agbeluyi; and Special Guest of Honour, Prof. Mohammad Akaro at the Institute's 2024 Fellowship Conferment Ceremony in Lagos ... recently
NBA Threatens to Sue EFCC Boss over Lawyers Aiding Money Laundering Allegation
Unveils logo, theme for 2025 AGC
Alex Enumah in Abuja
The Nigerian Bar Association (NBA), Monday, came down heavily on the chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, for alleging that lawyers are aiding money laundering and terrorism financing in the country.
National President of the NBA, Mazi Afam Osigwe, SAN, while condemning the EFCC's boss for making such sweeping allegations without evidence, warned that the association would not hesitate to commence legal action against the commission's boss if he should repeat such statements without having his facts.
He was speaking with journalists in Abuja, during the unveiling of the 2025
NBA Annual General Conference Logo and Theme: Stand Out, Stand Tall. Olukoyede, while speaking at the opening of the 6th Annual Criminal Law Review Conference in Abuja, had claimed that no mega financial fraud could be perfected without the input of lawyers.
“The most traumatic discovery of the EFCC in recent years was the subjugation of national interest and well-being to personal interest by lawyers who aided briefcase foreign investors to fleece the nation in dubious transactions.
“The P&ID scam, the Mambilla Power Project and Sunrise issues are cases in point,” the EFCC chairman stated, even as he called for action to stop what he described as "obscene legal fees" that senior lawyers receive
LG Boss, Itsekiri Leader Condemn Attack on Chevron Pipelines in Delta
Emman Addeh in Abuja and Sylvester Idowu in Warri
Chairman of Warri North Local Government Council, Hon. Festus Ashima, has condemned in strong terms the recent vandalism of Chevron oil pipeline at Bibi Field in Eghoro Ward, in the Council area. Ashima, in a terse statement issued yesterday, vowed to collaborate with security agencies to unravel the criminal elements responsible for the dastardly act.
Similarly, an Itsekiri Leader and Chieftain of the All Progressives Congress (APC) in Delta State, Chief Ayirimi Emami, also decried the attack on several pipelines of Chevron Nigeria Limited (CNL) along the Olero-Dibi-Abiteye Fields/Flow Stations in Warri North council area.
The damages pipelines transport various petroleum products such as natural gas and crude oil which the Niger Delta Liberation Movement (NDLM) claimed responsibility for.
The group, in a statement, claimed it carried out the attacks at about 2 am last Friday describing the action as the launch of "Operation Chevron Dragnet"
While saying that destruction
of critical infrastructure does not only pose a significant threat to the environment and public safety, the Delta North Council Boss said it also undermines the economic development of the community and state.
The Chairman offered to give N5 million to anyone with useful information that could lead to the arrest of the perpetrators.
"I commend the security agencies for their prompt response to the incident and assure them of our continued support", he added.
Chief Emami, while reacting to the incident in a statement he personally signed, described the action of the NDLM as unfortunate and unwarranted.
He maintained that there was no justifiable reason to burst the pipelines noting that Itsekiri people have civil ways of addressing their grievances with Chevron Nigeria Limited as well as other international oil and gas companies operating in Itsekiri land.
While urging security agencies to fish out those responsible for bursting of the pipelines, Chief Emami stressed the need for security agencies to avert recurrence of the attack.
from political office holders without recourse to financial regulations.
Reacting to the allegation, Osigwe stated that it is not right for the EFCC boss or any other person to accuse members of the legal profession of being involved in money laundering.
While stating that most of the persons in the anti-graft agency who are prosecuting corruption and money laundering cases are lawyers, Afam queried if by the EFCC boss' statement he was suggesting that his lawyers were also aiding money laundering and terrorism financing.
"If for example, he has evidence of lawyers who have aided money laundering and are standing trial or who may have been convicted or have pleaded guilty then, one would say he has evidence. But it's unfortunate that such statements were made and I am sure that with the benefit of hindsight he wouldn't have made such statement", he said.
While urging lawyers to
ensure that they do not use their professional services to aid money laundering or terrorism financing, Osigwe warned that no agency should utilize the public platform to suggest that members of the legal profession or indeed any profession are most guilty members of the public in the fight against money laundering and corruption.
"In the absence of evidence, such statement should never be made. We are proud members of the legal profession and we must draw the line in performing our professional duties and aiding the commission of crime. We do not do that.
"There may be few bad eggs but that does not represent the picture or the majority of lawyers who toil to build up a reputation of integrity and professionalism.
"The EFCC chairman should not for whatever reason soil that image by portraying all of us as
aiders of money laundering. If that happens again, we will take legal action to protect the image of the legal profession," Osigwe warned.
Meanwhile, the NBA president called on members of the public, including journalists who have any corruption evidence against any lawyer to forward a petition to the Legal Practitioners Disciplinary Committee (LPDC), stating that the body has the capacity to weed out the bad eggs.
Earlier, chairman of the 2024 NBA AGC Planning Committee, Dr. Emeka Obegolu, SAN, described the theme of the conference as a call to action, a rallying cry for legal practitioners to rise above mediocrity, distinguish themselves in their respective fields, uphold the tenets of justice with courage, resilience, and unwavering integrity.
Obegolu said: "The phrase 'Stand Out' challenges us to embrace excellence and innovation in a world
increasingly defined by complexity and change.
"As lawyers, it is our duty to lead with clarity, creativity, and a deep commitment to justice. Whether in the courtroom, the boardroom, or our communities, we must be the standard-bearers of professionalism and competence.
"Stand Tall inspires us to hold firm in the face of adversity, to remain steadfast in our values, and to be unapologetically bold in advocating for what is right.
"In an era where ethical compromise often seems the path of least resistance, standing tall means being the voice of integrity, equity, and fairness in all that we do".
Meanwhile, the NBA used the event to flag-off its 16-day activism against Sexual and Gender-Based Violence, SGBV, saying its team would visit prisons and various detention facilities across the country to secure the release of some inmates and detainees.
Lagos Signs Expression of Interest with EU- Africa Chamber of Commerce on Climate
Segun James
The Lagos State Government has signed a strategic partnership aiming to unlock climate financing, foster technology transfer, and promote green economic growth in the state with the EU-AfricaChamber of Commerce at the COP29 holding in Baku, Azerbaijan.
The signing aligns with the vision of Governor Babajide Sanwo-Olu, to position Lagos as a sustainable and resilient mega city, the Office of Special Adviser on Climate Change and Circular Economy (OCCE), said in a statement, adding that it has taken a significant step toward advancing sustainable development by signing an Expression of Interest (EoI) to partner with the EU-Africa Chamber of Commerce (EUACC).
This strategic partnership aims to unlock climate financing, foster technology transfer, and promote green economic growth in Lagos State, aligning with the vision of
Governor Sanwo-Olu, to position Lagos as a sustainable and resilient mega city.
Speaking at the signing ceremony at the COP29 Climate Innovation Zone, Mrs. Titilayo Oshodi, Special Adviser on Climate Change and Circular Economy for Lagos State, emphasized the importance of the partnership.
The EoI outlines a shared commitment to fostering collaboration on projects aligned with UNFCCC Articles 6.2 and 6.4ER goals, promoting carbon offset objectives, and driving Economic, Environmental, Social, and Governance (EESG) compliance and circular economy principles.
The partnership will focus on bankable, de-risked sustainable projects that advance Lagos State's position as a global leader in climate action.
The Lagos State OCCE through the Ministry of Economic Planning and Budget, plans to formalize the
partnership through a Memorandum of Understanding (MoU).
The MoU will outline cooperation on green financing, technology transfer, and sustainable development, strengthening the partnership and driving impactful outcomes.
With its strategic position within the planning and budget ministry, OCCE is positioned to champion the economic case for environmental sustainability, integrating it into the state’s financial planning.
This ensures that environmental sustainability is a core component rather than an add-on of the state’s financial decision making across all ministries.
She said: “This collaboration with the EU-Africa Chamber of Commerce is a key step in advancing our vision for a sustainable future in Lagos. With the EUACC's extensive network and expertise, we are better equipped to accelerate the deployment of innovative climate solutions, position Lagos as a global leader in sustainable
development, and attract meaningful green investments.
“Our participation in COP29 has been transformative, strengthening our position as a frontrunner in global climate action by forging strategic partnerships and showcasing Lagos’ pioneering projects.”
“The partnership is set to deliver key outcomes, including enhanced access to climate finance through green bonds and concessional funding, market promotion of Lagos State’s Article 6-compliant projects, and attracting funding for clean technology and sustainable infrastructure development.
“It also aligns with the ongoing strategic partnership between the OCCE, Access Bank - a leading African financial institution with operations across Africa, the United Kingdom, Europe, and Asia and Carbonivity, a leading carbon asset development firm, to accelerate climate investment initiatives for Lagos State.
REPS COMMITTEE ON LEGISLATIVE COMPLIANCE'S INTERACTIVE SESSION WITH DG OF NEMA...
Bauchi Govt, UNFPA Flag-off 16 Days of Activism to End Violence Against Women, Girls
As Abbas declares violence against women, girls, unacceptable Women Affairs Minister: Fight Against GBV is Battle for Soul of Society UNODC calls for urgent action, describes GBV as epidemic without borders Mrs. Tinubu wants swift prosecution of perpetrators of GBV
Abbas lamented this year’s United Nations report that for every 10 minutes a woman was being killed across the world.
Bauchi State Government and United Nations Population Fund (UNFPA), alongside other partners and key stakeholders, have flagged-off the annual 16 Days of activism to end violence against women in the state, which is being commemorated globally.
The flag-off activity started Monday, November 25, with a walk by officials of the state government, Implementing Partners (IPs), and civil society organisations (CSOs).
The walk terminated at Government House, Bauchi, where the first lady of the state, Dr. Aisha Bala Mohammed, received the contingents.
In a related development, Speaker of the House of Representatives, Tajudeen Abbas, Monday, declared as unacceptable violence against women and girls in the country.
The speaker, who joined the United Nations organised walk against gender violence in the country, as part of the activities lined up for the 16 Days of Activism Campaign against Gender Based Violence (GBV) in Nigeria, called for actions to contain the ills against women.
Similarly, Minister of Women Affairs, Imaan Sulaiman Ibrahim, said the campaign against GBV was not just a fight for gender equality, but also a battle for the soul of the society as a whole. Ibrahim stated this yesterday in Abuja at the flag-off of the annual 16 Days Gender Activism on ending Gender Based Violence, with the theme, "Unite Campaign: Towards Beijing to Prevent Violence Against Women and Girls."
United Nations Office on Drugs and Crime (UNODC) called for urgent
action against gender-based violence, describing it as an epidemic that knows no borders.
The UN agency raised concerns that over one million crimes related to violence against women and girls were recorded in 2022 and 2023, accounting for 20 per cent of all police-recorded crimes.
On her part, the wife of the president, Senator Oluremi Tinubu, called for swift prosecution of perpetrators of gender-based violence in the country.
The first lady, in a statement, titled, "16 Days of Activism Against Gender-Based Violence," personally signed by her on Monday, disclosed that most women and girls living in the rural areas were the worst victims of violence and inequality.
Meanwhile, while welcoming the procession, the Bauchi State first lady said the 16 days’ activism to end violence against women was a collaborative effort at bringing the
issues of GBV to the front burner with a view to finding solutions to mitigate the hydra-headed evil.
Mohammed appreciated the stakeholders for coming out in their numbers to demonstrate their solidarity for victims of GBV in Bauchi State and the country at large.
She implored the stakeholders to remain steadfast in advocating an end to violence against women by taking such humanitarian campaigns beyond the 16 days.
The first lady said her office will continue to provide all the needed support for GBV victims in Bauchi State and encourage prosecution of culprits.
Earlier, in her welcome remarks, Bauchi State Commissioner for Women Affairs, Hajiya Zainab Babantakko, said the ministry, in collaboration with the State Action Committee on GBV, IPs and local CSOs, was closely monitoring cases of GBV with a view to ensuring that
Navy: Oil Thieves Behind False Narrative About Nigerian Navy
Confiscates over 8.1m barrels of stolen crude oil in four years
The Nigerian Navy, yesterday, alleged that oil thieves were behind what it called a false narrative about the service.
The navy also claimed that the false narrative and misrepresentation of facts were peddled by mischiefmakers whose freedom of action in oil theft were severely degraded by the Nigerian Navy.
Addressing a press conference in Abuja yesterday, Chief of Training and Operations, Naval Headquarters, Rear Admiral Olusegun Ferreira, said despite sterling performances by the Nigerian Navy in curbing the menace of oil theft, there had been misrepresentations in certain quarters aimed at tarnishing its image.
Relatedly, the navy yesterday said its troops deployed to different operations in the Niger Delta confiscated over 8.1 million barrels of stolen crude oil,
86,500 MT of illegally refined AGO, 788,312 litres of illegally sourced premium motor spirit (PMS), and about 21 million litres of kerosene, in four years.
It also disclosed that 120 barges, 181 speed boats, 1,453 wooden boats laden with stolen products, as well as 118 vehicles conveying stolen petroleum products were intercepted within the period under review.
It would be recalled that the Defence Headquarters (DHQ), last week, responded to the viral allegations credited to the founder of Tantita Security Services Nigeria Limited, High Chief Government Ekpemupolo, alias Tompolo, that the Nigerian Navy was aiding and abetting oil theft in the Niger Delta, insisting that the military will not succumb to cheap blackmail.
Ferreira stated that efforts of the Nigerian Navy had greatly curbed oil
theft and led to significant increase in Nigeria’s daily crude oil production output, from 1.23 million barrels in October 2022 to 1.8 million barrels in October 2024, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
He stated that the positive outcome of the Nigerian Navy’s anti-crude oil operations was also evident in the Trans-Forcados and Trans-Niger pipelines, which had continued to report about 100 per cent terminal factor in the past few months.
Director, Naval Information, Commodore Aiwuyor Adams-Aliu, also revealed that 100 students graduated from Admiralty University of Nigeria, stressing that seven students made First Class while 51 and 41 students made Second Class Upper and Second Class Lower divisions, respectively.
The Chief of Training and
Operations also announced the scheduled 2024 Symposium of the Heads of Navies of Gulf of Guinea countries, organised in partnership with the European Union and the French Navy, to be hosted by the Nigerian Navy in Abuja.
He recalled that in 2022, the Nigerian Navy succeeded in eradicating piracy in Nigerian waters, and Nigeria was delisted from the International Maritime Bureau List of piracy-prone countries.
According to Ferreira, "Despite disruptions by these unpatriotic elements, the Nigerian Navy has remained critical in the success of several strategic initiatives such as the Presidential Crude Oil Barging Regime.
"For instance, an alarm of crude oil theft on MT PRAISEL in August 2023 at Escravos in which the Navy was alleged to have been involved was proven to be false.
victims got justice and perpetrators were punished.
Babantakko thanked Governor Bala Mohammed for creating the enabling environment to enhance all collaborative efforts towards mitigating GBV in Bauchi State.
In her speech during the activity, Bauchi State Programme Officer of UNFPA, Deborah Tabara, said countless women and girls endured the reality of gender-based violence every day.
Tabara said UNFPA, in collaboration with the state ministries, departments, and agencies (MDAs), as well as partners, stood in solidarity with GBV victims and was committed
to taking decisive actions to achieve transformative result against GBV and other harmful practices. The UNFPA programme officer, who also doubles as Gender/ Reproductive Analyst, said this year's mobilisation campaign emphasised the necessity of strengthening accountability mechanisms for ending violence against women and girls. Tabara stated, "UNFPA is focusing on tracing the root, standing against Gender Based Violence, and will continue to call for global action to foster awareness, galvanise advocacy efforts and share innovative solutions to end the pandemic of violence against women and girls.
NANS, NAKSS Commend AbdulRasaq for Investing in Education, Students' Welfare
Hammed Shittu in Ilorin
Kwara State Governor and Chairman of Nigeria's Governors Forum (NGF) AbdulRahman AbdulRazaq has been commended by students across the nation's tertiary institutions over his administration's investment in the welfare of students and the education sector in general.
The students under the aegis of the National Association of Nigerian Students (NANS) and National Association of Kwara State Students (NAKSS) made the commendation when they visited the governor at Government House in Ilorin on Monday.
The students said they had benefitted immensely under the administration, including the prompt payment of bursary and other support it had given to students before and after the subsidy removal.
Speaking with journalists during the visit to the governor to appreciate the administration, the NANS President, Issa Arikewuyo, described AbdulRazaq as a democratic leader who is passionate about the development of the education sector.
"To whom much is given, much is expected. We will be ungrateful if we cannot come en masse today to show to the world that the Chairman of the Nigeria Governors' Forum
is a student-friendly personality.
“We have an action governor in the person of AbdulRazaq who loves to appreciate and celebrate humanity, and who has turned students to the people of value," he said.
He lauded the governor for the establishment of the Kwara State University of Education, provision of solar lights system to Kwara state University Malete, and for provision of 250 ICT infrastructure to the students of College of Aviation Ilorin, among other interventions. Also in his remarks, the President of NAKSS, Abdulwahab Habibullahi, listed the provision of scholarships for law students, and provision of a bus for the leadership of the students' union, as well as provision of free bus ride for students, among others, as some of the benefits they enjoyed from the government.
"Today is a remarkable day in the history of students in Kwara State. We are here today to appreciate His Excellency for all the unwavering support and commitment he has been showing to students' leadership in the state,” he said. Responding, AbdulRazaq, commended the students for the visit and called for continuous productive engagements with the administration.
Deji Elumoye, Michael Olugbode and Kuni Tyessi in Abuja, Segun Awofadeji in Bauch
Linus Aleke in Abuja
L-R: Director General, National Emergency Management Agency (NEMA), Mrs Zubaida Umar and Vice Chairman, House of Representatives Committee on Legislative Compliance and member representing Oyi/ Ayamelum Federal Constituency of Anambra State, Hon. Maureen Chinwe Gwacham, at the National Assembly shortly after an interactive session of the committee with NEMA DG and her team at the National Assembly… last Thursday
‘Any system that we build that will not make the people in power fear the people, but the people, instead, are afraid of those in power, is an Imperial Democracy. It will never work, or produce any results.’ - Rt Hon. Yakubu Dogara, CFR; Lawyer; Speaker, House of Representatives, 8th National Assembly, Federal Republic of Nigeria
columnists
PROF MIKE OZEKHOME, CON, SAN, FCIArb, PH.D. LLD Constitutional Democracy, means a system of government, in which political and governmental power, is defined, limited and shared by a grundnorm called the Constitution, which provides inbuilt checks and balances.
This column seeks to fiercely discuss constitutional, legal and political issues, with a view to strengthening, deepening and widening the plenitude and amplitude of democracy and good governance, without fear or favour.
The writer of this column, Prof Mike Ozekhome, SAN, is a Constitutional Lawyer, Human Rights Activist, Pro-Democracy Campaigner, Notary Public and Motivational Speaker. He co-founded the Civil Liberties Organisation (CLO), Nigeria’s pioneer human rights league, on October 15, 1987, the Universal defenders of Democracy (UDD), in 1992, and with Chief Gani Fawehinmi and others in 1998, the Joint Action Committee of Nigeria (JACON), to push out the military. In his early days, he lectured at the University of Ife. Prof Ozekhome is an author of many books. He is also a Special Counsel at the International Criminal Court (ICC), at The Hague.
Power of Statutory Body to Terminate Employment for Any or No Reason
Page IV
CJN, Ex-Kenyan Chief Justice, Others for Punuka Lecture, Idigbe Centenary Grand Finale
Page V
Why CSOs are Opposed to Amendment of the Violence Against Persons Act
Page V
Kubi Udofia PhD
Kubi Udofia holds a Doctorate degree in Law from The University of Nottingham, a Certificate in International Risk Management from the Institute of Risk Management, London, a Masters degree in Corporate Law from University College London and a Bachelors degree from University of Uyo in Nigeria. He is a leading and an acknowledged expert, in corporate restructuring and insolvency law in Nigeria. As a scholarpractitioner, Kubi Udofia has extensively researched and written on a broad spectrum of topical issues in corporate restructuring and insolvency law. He is a seasoned transactional and dispute resolution specialist, with extensive knowledge and practical experience in corporate and commercial law. He is a Partner at Babalakin & Co, a leading commercial law firm in Nigeria.
onikepo braithwaite: editor,
Bringing Simon Ekpa to Justice
Arrest of Simon Ekpa: Joyful News
The news of the arrest of Simon Ekpa in Finland, the self-acclaimed leader of IPOB after the extraordinary rendition of Nnamdi Kanu from Kenya in 2021, and some of his cohorts, has been music to my ears and that of a great multitude. It was long overdue. When, from the comfort of his home in Finland, warmly ensconced in his white and gold embroidered bathrobe, Simon Ekpa ordered a one-week sit at home in the South East in July 2023, I condemned him and his terrorist activities on this page. In fact, I said that he should be arrested in Finland, and extradited to Nigeria to face criminal charges ranging from treasonable offences to terrorism, amongst others. Little did I know, that the issue of extradition wasn’t quite clear cut.
How Ekpa will be brought to justice, at least, for the crimes he is alleged to have committed in Nigeria, is another matter; because, based on the laws of Finland which apply to Finnish citizens for crimes committed outside Finland - and Ekpa is said to be a Finnish Citizen - see the definition of Finnish Citizen is Section 6(2) & (3) of The Criminal Code of Finland (CCF), and the fact that Nigeria doesn’t have an Extradition Treaty with Finland (see the First Schedule (Section 1(5)) of the Extradition Act 2004 (EA)), it’s rather unlikely that we will be seeing Simon Ekpa in Nigeria anytime soon. The extraordinary rendition style used to bring Nnamdi Kanu back home is also out of the question, since Ekpa is already in the custody of law enforcement in Finland.
Nigerians were already suffering from untold economic hardship, and one criminal, insensitive, bombastic element, Simon Ekpa, living safely and comfortably in faraway Finland, was forcing hardworking Nigerians who are desperately trying to eke out a daily living to survive, which if they don’t earn, their families may starve, to stay at home for a whole week! At the time, we saw a video of masked men destroying the wares of those who were brave enough to ignore the sit-at-home order and come out to sell their perishables like vegetables, which, if they didn’t sell immediately would simply rot in a day or two, resulting in losses, while others were physically assaulted for daring to do so.
Offences
While the right to self-determination is accepted as a basic human right - see Article 1(1) of the UN International Covenant on Civil and Political Rights (ICCPR) adopted on 16/12/1966, it is undeniable that Ekpa and his IPOB or whatever group he superintends, crossed the line between the agitation for self-determination and criminality, a long time ago.
Breaching the right of the people of the South East to personal liberty and freedom of movement, contrary to Sections 35(1) & 41(1) of the 1999 Constitution of the Federal Republic of Nigeria (as amended)(the Constitution) by prohibiting them from going about their legitimate concerns on Mondays, or for one week or any other time, while using violence and intimidation to make the people comply (false imprisonment); terrorism - terrorist acts including but not limited to, allegations of involvement in the bombing/destruction of Government facilities, allegations of murder, assault, infliction of grievous bodily harm, recruiting members to use violence to achieve the end of the secession of Biafra from Nigeria, military training of members, demanding the allegiance of members by oath taking and counselling them to unleash violence against the State, intimidation and overawe of the Government/South East Governors/ State and the people, and funding terrorist activities - see the various terrorism offences in Part V of the Terrorism (Prevention and Prohibition) Act 2022 (TPPA). In Boro & Ors v Republic (1966) LPELR-25346 (SC) per Adetokunbo Adegboyega Ademola, JSC (later CJN) the Apex Court cited the definition of Professor Gledhill of the words ‘overawe’ and ‘intimidate’ thus: “To intimidate is to deter from some course of action by threats; to overawe is to put a person in such fear, that he hesitates to do what he has a mind to do”. The activities of Ekpa and his cohorts, fit like a glove into Professor
onIkepo BraIThwaITe
onikepo.braithwaite@thisdaylive. com
onikepob@yahoo.com
“The venue of the trial of all Ekpa’s offences, whether those committed in Finland or outside, appears more likely to be Finland, particularly as there is no Extradition Treaty between Nigeria and Finland, Finnish law applies to her citizens for crimes committed outside the country, the Rome Statute to which Nigeria and Finland are signatories, allows Finland to prosecute Ekpa for international crimes, and so does dual criminality”
Gledhill’s definition, as they put the people of the South East in such a state of fear, that majority of the people have stayed home every Monday since 2021 when the forced sit-at-home was declared; and also into the definition of Treason and Conspiracy to Commit Treason provided in Section 37 of the Criminal Code Act 1916 (CCA) (applicable in Southern Nigeria), which both carry the death sentence upon conviction. Also see Sections 15 & 46 of the EFCC Act 2004, amongst other laws; Enahoro v Queen (1965)
LPELR-25238(SC) per Chukwunweike Idigbe, JSC on the offence of Treason in Section 37 of the CCA, and the prescribed punishment of death upon being found guilty of committing the offence. In Boro & Ors v Republic (Supra), the activities of Boro and his associates were similar to that of Ekpa and his group, the only difference being that Boro was physically present in Nigeria. The Supreme Court affirmed the decision of the trial court, convicting the Appellants for treason and sentencing them to death. Also see the case of Abdulmumini v FRN (2017)
LPELR-43726(SC) per Ejembi Eko, JSC on how the offence of conspiracy (to commit a terrorist act) can be inferred.
Hurdles to Ekpa’s Extradition
There are however, some hurdles to Ekpa being extradited to Nigeria, but, this doesn’t mean that he will escape justice. By virtue of Section 6(1) of the CCF, Finnish Law Applies to an offence committed outside of Finland by a Finnish Citizen, like Ekpa is alleged to have committed in Nigeria.
It is therefore, unlikely that the Finnish Government would place a request for extradition from a Requesting State, particularly one that it doesn’t have an extradition treaty with, over and above her own laws. See Section 15 of the CCF. Undoubtedly, there are hefty allegations against Simon Ekpa and his IPOB group here in Nigeria, but, Finland is also not a Commonwealth Country that the EA applies to - see Section 2(1) of the EA. The fact that Ekpa has been arrested in Finland for spreading terrorist propaganda on social media, an offence which he is alleged to have committed in Lahti, Finland in 2021, though just a tip of the iceberg of the offences he is alleged to have committed in Nigeria, could also be an obstacle to his extradition, because not only is he already facing criminal charges in Finland, Finnish law applies to him for offences he may have committed outside the country.
It appears to be an advantage for Ekpa, that he is a Finnish citizen, as an easy way to have sent Ekpa to face justice in Nigeria, would have been to have had him deported to Nigeria, had he not been a Finnish citizen. Also, prison in Finland would probably be a more palatable and comfortable experience than prison in Nigeria, as such countries take basic fundamental rights like humane treatment of prisoners/inmates more seriously than we do.
Had there even been an extradition treaty between Nigeria and Finland, another hurdle for Nigeria in submitting her request to Finland to extradite Ekpa,
would have been the death penalty which is not an option for punishment in Finland, as it was fully abolished there in 1972; and Nigeria would probably have had to take the death penalty off the table, as punishment for the crimes Ekpa would be charged for in Nigeria, for Finland to acede to such request. Life imprisonment is the only possible penalty for murder, treason, terrorism and the like in Finland. Undertaking that Ekpa would have a fair hearing, and his right to humane treatment devoid of torture etc, would be respected, may also have been a condition. See Sections 36(1) & 34(1)(a) of the Constitution.
Again, treason and high treason are offences in Finland and Nigeria (dual criminality). See Sections 3 & 11 of the CCF on the offence of treason and high treason, and dual criminality respectively. Providing enough evidence of treason and other violent crimes like murder, assault, inflicting grievous bodily harm, to support an application for extradition, which are extraditable offences would help. It appears that, instead, all this information may have to be provided to the Finnish Government to prosecute Ekpa there.
All Is Not Lost
By virtue of Section 8 of the CCF, Finnish law applies to an offence committed outside Finland, which under Finnish law is an offence punishable with imprisonment of more than six months, if the country where the offence is committed, like Nigeria, requests that charges be brought against the offender like Ekpa in a Finnish court, or that the offender be extradited and the extradition request hasn’t been granted. This provision appears to apply to anyone, not necessarily only a Finnish citizen who is an offender. So, even if Ekpa cannot be extradited, the alternative is that he can be tried in Finland, not just for the offence he has been charged for there, but for those he is charged for in Nigeria. Additionally, part of the offences of conspiracy to commit treason and terrorism appear to have been committed in Finland, while possibly the funding of Terrorism in Nigeria may have happened there too, if funds were raised in Finland. The sum and substance of this is that, there must be a robust cooperation between Nigeria and Finland to bring Simon Ekpa to justice.
Nigeria and Finland are signatories to the Rome Statute of 1/7/1998 making it “the duty of every State to exercise its criminal jurisdiction over those responsible for international crimes”. Section 7 of the CCF also recognises crimes defined as international crimes under the Rome Statute. The acts of aggression of Ekpa’s IPOB group, the suffering they inflicted on the people of the South East, allegedly killing, maiming and assaulting people, and destroying government facilities appear to be examples of war crimes which form international crimes under the Rome Statute and the CCF.
Conclusion
As long as Simon Ekpa is brought to justice, it doesn’t matter if it is achieved in Finland or Nigeria. The venue of the trial of all Ekpa’s offences, whether those committed in Finland or outside, appears more likely to be Finland, particularly as there is no Extradition Treaty between Nigeria and Finland, Finnish law applies to her citizens for crimes committed outside the country, the Rome Statute to which Nigeria and Finland are signatories, allows Finland to prosecute Ekpa for international crimes, and so does dual criminality. If Ekpa is tried and convicted for treason, terrorism etc in Finland, the maximum punishment he will get is life imprisonment. Unfortunately, life imprisonment doesn’t necessarily mean life in prison in Finland, as life imprisonment could be as short as 13 years imprisonment. But, still, punishing Simon Ekpa to the fullest extent of the law in Finland, will serve as a lesson to those who believe that because they are outside Nigeria, the law cannot catch up with them, since they are physically out of reach. Who knows if the Nigerian Government will be able to come to some sort of compromise with the Finnish Government, that if Simon Ekpa is convicted for treason and terrorism, the punishment of life imprisonment should mean life, since those offences carry the death penalty in Nigeria.
Simon ekpa
Power of Statutory Body to Terminate Employment for Any or No Reason
Facts
The Appellant was employed in the services of the 1st Respondent vide a letter of employment dated 24th August, 1992, as Technologist II. He was subsequently promoted to Principal Technologist II on 11th November, 2002. By a turn of events, on 30th January, 2003, the 1st Respondent terminated the Appellant’s employment. The termination letter (Exhibit 6) reads “Services no longer required”. The Appellant was dissatisfied with the termination; he reached the conclusion that the termination was wrongful, and not in accordance with the Federal Polytechnics Act. The Appellant, thereby, filed an action at the Federal High Court, Jos, where he sought re-instatement to his job role, on the premise that his employment enjoys statutory flavour and backed by the Federal Polytechnics Act Cap.139 F.17 LFN 2004 prescribing mode/ manner of termination. The suit was heard and determined on 24th July, 2007, but the court dismissed the suit filed by the Appellant for being unmeritorious.
This necessitated the filing of a Notice of Appeal at the Court of Appeal. The Appellant was also not successful at the Court of Appeal, and he further appealed to the Supreme Court on 24 November, 2020.
Issues for Determination
The Appellant raised 2 (two) issues for determination in his brief of argument filed on 24th November, 2020, to wit:
(i) Whether the Court of Appeal was right in affirming the judgement of the trial court, to the effect that the Appellant’s employment with the Respondents was rightly terminated?
(ii) Whether the lower Court of Appeal did not misapply the case of Adeniyi v Yaba College of Technology (1983) SCJN (Pt. II) 307, to the detriment of the Appellant?
The Respondents filed a brief of argument on 17th February, 2016, and relied on issue 1 as nominated by the Appellant in his Brief of Argument.
Arguments
Counsel for the Appellant argued on the first issue that the status of his employment was one that enjoyed statutory flavour, as his employment was governed by the Federal Polytechnics Act Cap.139 F.17 LFN 2004. In effect, Counsel argued that the Respondents could only terminate his employment if they complied with termination procedure identified under Section 17(1) of the Act. It was further argued that, by the provisions of the Act, the Appellant could only have been removed from his office on either [a] grounds of misconduct or [b] inability to perform functions of his office. On the above point, Counsel posited on behalf of the Appellant that since the termination letter did not border on the foregoing grounds, then the Appellant was wrongfully terminated and entitled to re-instatement. In addition, he submitted that failure to give the Appellant an opportunity of making representations to the 2nd Respondent amounted to a gross violation of Section 17 of the Act. In sum, the Appellant argued that the Respondents’ Federal Staff Manual (which provided for termination procedure with option of payment in lieu), could not override the provisions of the Act.
On the second issue, Counsel for the Appellant argued that the lower court reached a wrong conclusion when analysing ADENIYI v YABA COLLEGE OF TECHNOLOGY (Supra), which, as believed by the Appellant, was on all fours with his appeal. On the strength of ADENIYI v YABA COLLEGE OF TECHNOLOGY (supra), Counsel for the Appellant urged the court to grant all reliefs sought before the trial court. In reaction, Counsel for the Respondents
In the Supreme Court of Nigeria Holden at abuja On Friday, the 7th day of June, 2024
2. The Governing Council, Respondents Federal Polytechnic, Bauchi (Lead Judgement delivered by Honourable Jamilu Yammama Tukur, JSC)
(adopting Appellant’s issue one as their sole issue), argued that parties to a contract are bound by the terms of their agreement. It was argued that the Appellant’s termination was in full compliance with the offer letter (Exhibit 1), and that the Appellant lost his right to complain on
“…..where, as in this case, the reason for termination is not captured in the relevant statute, an employer is entitled to terminate the contract of his employee for any reason or for no reason at all. So long as he acts within the terms of employment, his motive for termination of the employment cannot be called to question”
appeal having accepted Exhibit 1, which provided that either party to the contract of employment can determine the contract by one month notice or a month salary in lieu of notice. More so, the Appellant had done work with/for the Respondents all that while, in furtherance of the contract of employment. The Respondents denied the argument that the Appellant’s employment had statutory flavour; they posited that the provisions of the Federal Polytechnics Act is inapplicable in the circumstance. In concluding, Counsel for the Respondents distinguished the cases cited by the Appellant, on the premise that the judicial authorities so cited were in respect of occasions where the employer was accused of a particular act of misconduct, unlike this instance where the appointment of the Appellant was terminated because his services were no longer required. The Apex Court was therefore, urged to distinguish the judicial
authorities and dismiss the appeal. Court’s Judgement and Rationale In determining the appeal, the Supreme Court had recourse to the provisions of Section 12(1) of the Federal Polytechnic Act, 1990 now Section 17(1) of the Federal Polytechnics Act Cap.139 F.17 LFN 2004, which reads thus:
“12(1) If it appears to the Court that there are reasons for believing that any person employed as a member of the academic, administrative or technical staff on the Polytechnic, should be removed from office on grounds of misconduct or inability to perform functions of his office, the Council shall:
a. Give notice of those reasons to the person in question.
b. Afford him opportunity of making representation in person in the matter to the Council.”
The Apex Court noted that the above provision is clear and unambiguous, and should, as a matter of interpretation, be given their ordinary/literal meaning with no need for imputations. Their Lordships reiterated the principle that employment with a statutory body does not automatically clothe the employment of the employee with a statutory flavour, unless it is so stated in their contract of employment – ORJI v ZARIA INDUSTRIES LTD (1992) 1 SC 29.
As a general rule, the only way to terminate a contract with statutory flavour, is to adhere strictly to the procedure laid down in the statute or regulation establishing the employment. This is so, because the statute confers on the employee a special status over and above a normal master/servant contractual relationship – BAMGBOYE v UNILORIN & ANOR. (1999) LPELR-737 SC. The foregoing notwithstanding, where, as in this case, the reason for termination is not captured in the relevant statute, an employer is entitled to terminate the contract of his employee for any reason or for no reason at all. So long as he acts within the terms of employment, his motive for termination of the employment cannot be called to question. The Supreme Court considered Exhibit 6 (that is, termination letter) where it stated that the Appellant’s employment was “for services no longer required”, and noted that an employer is not bound to state the reasons why the service of an employee is no longer required.
Deciding issue two, the court analysed the decision in ADENIYI v YABA COLLEGE OF TECHNOLOGY (supra), and held that the facts giving rise to the decision of the Court in that case, are not similar with the instant appeal because Adeniyi was actually retired on the ground of gross official misconduct, regarding divulging official secrets, with serious implication (which was not the case in the instant appeal). Therefore, the Apex Court held that the argument of the Appellant must resultantly fail, because the instant appeal did not border on misconduct to make the provisions of the Act applicable. The Act provides for mandatory procedure that [i] notice to the alleged defaulting employee and [ii] an opportunity to defend himself, must exist conjunctively where misconduct is alleged. This was not the case here, as the reason given for termination of the Appellant’s employment is not provided for in the Act.
The Supreme Court held that, the Appellant failed to establish convincing reasons why it should interfere with the concurrent findings of the trial and the Court of Appeal. Their Lordships, therefore, unanimously dismissed the appeal of the Appellant.
Appeal Dismissed.
Representation
Dr. S.A.T. S. Abubakar with B.E. Asuquo for the Appellant.
No legal representation for the Respondents.
of Babalakin & Co.
Honourable Jamilu Yammama Tukur, JSC
CJN, Ex-Kenyan Chief Justice, Others for Punuka Lecture, Idigbe Centenary Grand Finale
Stories by Steve Aya
Chief Justice of Nigeria, Hon. Justice Kudirat Kekere-Ekun, GCON, is among dignitaries expected at the 2024 Punuka Attorneys & Solicitors Annual Public Lecture and grand finale of the centenary celebrations in honour of the late Justice Chukwunweike Idigbe of the Supreme Court, who founded the firm.
Former Chief Justice/ President of the Supreme Court of Kenya, Hon. Justice Dr Willy Mutunga, will chair the event.
Kwara State Governor and Chairman of Nigeria Governors’ Forum, AbdulRahaman AbdulRazaq will lead other Governors to the event. Also expected are serving and retired Justices of the Supreme Court and Court of Appeal, serving and retired Judges of the High Courts and Senior Lawyers.
The event will be held on December 5, 2024, in Lekki, Lagos at the new PUNUKA head office complex, PAS World Centre, which will be opened the same day.
The lecture will be delivered by Professor Olabisi Akinkugbe of Dalhousie University, Halifax, Canada.
The late Justice Idigbe was a distinguished Nigerian Jurist, who practiced law all over West Africa from 1947 to 1961. He served as a Judge in the then Eastern Region of Nigeria High
Court and Chief Justice of the Midwest Region, rising to the position of Justice of the Supreme Court.
Hon. Justice Idigbe, JSC was born on August 12, 1923, in Kaduna. He studied law at King’s
College, University of Cambridge. The first Lawyer in the Asaba Division and the then Benin Province, he settled in Warri, where he established his law office PUNUKA Chambers in 1947 (named after his
great-great-grandfather Obi Idigbe, who was married to one ‘Onye Punuka’) with the famous Sierra-Leonean Lawyer, Nelson Williams.
In 1961, he was appointed a Judge of the Eastern Nigeria
High Court, and in 1964, he was elevated to the position of Justice of the Supreme Court. Justice Idigbe passed away on July 31, 1983, at the Cromwell Hospital in London, just a few days short of his 60th
birthday and anticipated appointment as the Chief Justice of Nigeria. He was a remarkable Jurist and a trailblazer in his field, leaving a legacy that inspires generations of legal practitioners in Nigeria and beyond.
Why CSOs are Opposed to Amendment of the Violence Against Persons Act
Civil Society Organisation in the country have continued their opposition to the repeal of the Violence Against Persons (Prohibition) Act, and the subsequent enactment of a new Act because of some clauses introduced in the new Bill.
Speaking at the just concluded 6th Annual Criminal Law Review Conference of the Rule of Law Development Foundation in Abuja themed: “Administration of Criminal Justice in Nigeria: How to Navigate Emerging and Systemic Challenges of Insecurity and Economic Hardship”, a Lecturer in Faculty of Law, Baze University, Abuja, Mrs Ozioma Izuora in her lead paper on the topic: “The Bill to Repeal the Violence Against Persons ( Prohibition) Act and Matters Arising”, said that the CSOs oppose the amendment because “it reintroduces 'defilement' which was part of the old law that considers minors incapable of being raped. The result is that it made nonsense of the statutory rape provision in the Child's Rights Acts and all the recent treaties signed by Nigeria
prohibiting child marriage. If defilement is allowed into the law, nobody under age 18 can ever be said to be raped. It also removes the protection given to boys and men, by the 2015 Act. And, we all know that boys and men are susceptible to rape”, Izuora stated
In his welcome address at the Conference, the Coordinator of the Foundation, J.B. Daudu, SAN said: “On behalf of the Rule of Law Development Foundation, I welcome you all to the opening ceremony of the 6th Annual Criminal Law Review Conference taking place from today, November 18, 2024 to Friday, November 22, 2024 at this address and virtually at various locations within Nigeria and abroad.
“May I use this opportunity to acknowledge and welcome the powerful 50-person delegation led by the Honourable, the AttorneyGeneral of Kogi State, Mr Muiz Abdullahi, SAN participating virtually from the ultra-modern Banquet/ Conference Hall in the Kogi State Government House ‘Glass House’ in Lokoja, Nigeria.
“This Criminal Law Review Conference commenced six years ago as one of the flagship events of this Foundation, and it was essentially to provide an annual forum for the review of all developments, particularly novel developments in the field of crime apprehension, crime prosecution, crime adjudication, and the important activities of the post- adjudicatory processes and institutions of the criminal justice system.
“These entailed for us, as a matter of necessity, the consideration of the state of the existing laws governing the powers and functions of the Nigeria Police and all other law enforcement agencies operating in Nigeria. As it relates to the courts, while acknowledging the strenuous conditions under which our courts performed their onerous duties, the Foundation annually and still does, as a matter of policy, to review the recent cases and decisions of our law courts, particularly the Supreme Court of Nigeria and the Court of Appeal on virtually every area of criminal law on
which they pronounced judgement within the time frame under consideration.
“It is also part of the Conference mandate to highlight any legislative developments emanating from the National Assembly of Nigeria and any of or all the 36 States Houses of Assembly in Nigeria, within the period under review. A clear example is the domestication by most, if not all the 36 States of the Federal Republic of Nigeria, of the provisions of the Administration of Criminal Justice Act 2015. We have, over the years, considered the implications or effect of Criminal Bills within the legislative incubator, and have within our understanding, suggested possible modifications to such Bills or portions thereof, whose ultimate passage in their unrefined form will pose a danger to the smooth running of the administration of criminal justice in Nigeria.
“A further mandate of this Conference, is to review the progress and performance of our correctional institutions.
The Foundation takes the view that correctional institutions are pivotal
to the success or smooth operation of any socio-economic, politico-cultural system such as the Nigerian State. The Foundation cannot be faulted, when it takes the view that our correctional institutions or prisons as they are better known, are in a decrepit state and in offensive conditions of squalor and disrepair. They, in our view, constitute a serious health hazard to the inmates therein. In our humble view, as a result of the growing crime rate in Nigeria and the corresponding instability generated by such wanton acts of insecurity and criminality in every nook and crevice of the nation, there is a need for the Government of the Federation and indeed, State Governments (pursuant to the 2022/2023 constitutional amendment that placed Correctional Centres and Prisons on the Concurrent Legislative List) to, as a matter of national priority and urgency, build, construct or install one multi-purpose Correctional Centre in each of the 774 local government councils in Nigeria”.
Late Hon. Justice Chukwunweike Idigbe, JSC
L-R: Director, Civil Litigation, Federal Ministry of Justice, M.B. Abubakar; EFCC Chairman, Mr Olanipekun Olukoyede and Coordinator, ROLDF, J. B. Daudu, SAN
TalkIng ConsTITuTIonal demoCraCy
PROF mike O zekh O me, san 0809 889 8888 sms Only
Passport Seizure, Retention, Revocation and Deprivation: Legal and Human Rights Implications (Part 2)
Introduction
We commenced this treatise last week addressing the legal and human rights implications of passport seizure, retention, revocation, and deprivation, focusing on their impact on freedom of movement. We also examined the constitutional right to movement under Nigerian law, and whether the requirement for a passport is a justifiable restriction on this right. Today, we shall continue with same, and later delve into and conclude with discussing whether withholding a passport infringes on citizenship or public safety concerns, and explore the broader significance of a passport as evidence of identity and nationality. Please, come with me.
What are the Requirements of Citizenship Under the Law?
The answer to this question is contained in the provisions of Sections 25, 26, 27, 28, 29, 30 and 31 (Chapter III) of the Constitution, which recognises different categories of Nigerian citizenship, namely by birth, naturalisation and registration and their incidents. It is pertinent to mention that, apart from the other two categories of citizenship recognised by the Constitution, as aforesaid (that is, by naturalisation and by registration), the category of citizenship by birth provided for under Section 25 of the Constitution clearly enjoys a superior status. This is because, unlike the other two, it cannot be taken away from any Nigerian who happens to fall within that class. This is clearly borne out by the provisions of Sections 28(1) and 30(2) of the Constitution, which expressly state, inter alia, that:
- Section 28(1): “a person shall forfeit forthwith his Nigerian citizenship if, not being a citizen of Nigeria by birth, he acquires or retains the citizenship or nationality of a country other than Nigeria, of which he is not a citizen by birth” and Section 30(2). - “The President shall deprive a person other than a person who is a citizen of Nigeria by birth, of his citizenship, if he is satisfied from the records of proceedings of a court of law or other tribunal, or after due inquiry in accordance with regulations made by him, that-
(a) The person has shown himself by act or speech to be disloyal towards the Federal Republic of Nigeria; or (b) The person has, during any war in which Nigeria was engaged unlawfully traded with the enemy or been engaged in or associated with any business that was ... communicated with such enemy to the detriment of or with intent to cause damage to the interest of Nigeria”.
That being the case, I believe that it is curious for the Nigerian State to possess the capacity to deprive, withdraw, revoke or suspend the passports of Nigerian citizens by birth, as was done (with the approval of the Supreme Court), in Director, SSS & Anor v AGBAKOBA (1999) LPELR954(SC). Given its importance as virtually
the only case on the issue, it is worthwhile to discuss it in extenso.
The Respondent, Olisa Agbakoba, was invited by the Netherlands Organisation for International Development and Cooperation (NOVIB) to attend a conference which was scheduled to take place between 22nd and 25th April, 1992. On 21st April, 1992, he went to Murtala Muhammed International Airport, at Ikeja Lagos with a view to traveling to The Hague in the Netherlands. However, he could not board the plane, because he was stopped by officers of the Nigerian State Security Service (SSS) who impounded his passport without giving any reason for the seizure. After fruitless efforts to regain the passport, the Respondent instituted a suit under the Fundamental Rights (Enforcement Procedure) Rules seeking inter alia:
“1. A Declaration that the forceful seizure of the Applicant’s Passport No. A 654141 by agents of the State Security Services (Sic) (1st Respondent herein) on April 21, 1992 is a gross violation of the Applicant’s right to personal liberty, freedom of thought, freedom of expression and freedom of movement respectively, guaranteed under Sections 32, 35, 36 and 38 of the Constitution of the Federal Republic of Nigeria 1979 (as amended) and is accordingly unconstitutional and illegal.
2. An order of mandatory injunction directing the Respondents to release Applicant’s Passport No. A 654141 to him forthwith.”
The application which was filed in the High Court of Lagos State went before Akinboboye J. who refused it, on the ground that the Respondent failed to satisfy
“The impounding was illegal, since it violated the provisions of Section 38(1) of the Constitution and Section 5(1) of the Passport (Miscellaneous Provisions) Act. His Lordship held that the right to freedom of movement and the freedom to travel outside Nigeria is, accordingly, guaranteed by the Constitution, but the right to hold a passport was subject to the provisions of the Act”
the court that the passport was his personal property, and that the passport referred to the holder as “the bearer” and not “the owner”. Aggrieved by the decision, the Respondent appealed to the Court of Appeal which allowed the appeal, and granted the two reliefs earlier set out. Being dissatisfied with the judgement, the Appellants appealed to the Supreme Court. The important issue which the court had to determine in the case, was whether the seizure of the Respondent’s passport by officers of the S.S.S. was in contravention of his right to freedom of movement as guaranteed by Section 38(1) of the 1979 Constitution, which was then in force in Nigeria. In determining this issue, the court necessarily had to decide whether possession of a passport is a right, or a mere privilege which could be withdrawn by the Government in view of the decision of the trial court that the Respondent did not satisfy it that the passport was his personal property. At the Court of Appeal, Ayoola J.C.A (as he then was) who delivered the leading judgement of that court had this to say on the point:
“In so far as passport is a certificate of identity and nationality and at the same time a request from one State to another to grant entry to the bearer, it stands to reason that a passport is normally an essential document in the exercise of the discretion by a foreign State, which at International law it has in the reception of aliens into its territory. To that extent, a passport is normally an essential document for entry into foreign countries….I also hold that the possession of a passport in modern times, makes exit out of Nigeria possible … the issue that follows from this conclusion, is whether the possession of a passport or its withdrawal has any relevance to the constitutionally guaranteed freedom of movement, including the right of exit from Nigeria, with which this case is directly concerned….it can thus, be seen that while the seizure of passport by a government agency such as the 1st Respondent can be interpreted as a direct expression of refusal of exit to the citizen, it
is also a potent curb on the desire of the citizen to travel abroad, and an evident clog on the exercise of his right of freedom of movement.”
Thus, in the view of His Lordship, there is a conflict in the statement endorsed on Nigerian Passports, that the Passport remains the property of the Government of the Federal Republic of Nigeria and the right which accrues to every citizen to hold such a Passport. The consequence of a passport being the property of the Government is, according to His Lordship, that the holder cannot deal with it as he pleases. He cannot transfer, sell or otherwise dispose of it. If for instance he ceases to be a citizen of Nigeria, he has an obligation, if requested, to return it to the ‘owner’, and the Nigerian Government as the owner of the passport has a right to recover the passport from anyone else who is not entitled to hold it. His Lordship then concluded that:
“The freedom of exit guaranteed by our Constitution cannot be exercised without a passport, and that freedom enshrined in Section 38 (1) of the Constitution carries with it a Concomitant right of every Citizen of Nigeria to a passport”.
Although the judgement of the Court of Appeal that the seizure of the Respondent’s Passport amounted to a violation of his right to travel abroad guaranteed by Section 38 (1) of the Constitution was upheld by the Supreme Court, the leading judgement of the Apex Court delivered by UWAIS C.J.N adopted a different line of reasoning to arrive at the same conclusion. At page 352 of the report UWAIS, C.J.N said:
“In determining the issues in the present case, it is not, with respect, necessary to indulge in the academic exercise of whether the right to travel abroad is concomitant with the right to hold a passport. The real issue in contention here, is not whether the Respondent had a right to hold a passport. He, in fact, had a passport already, but which was impounded by an official of the SSS. It is whether such an act by the official, was legal and constitutional.”
The C.J.N opined that the official of the SSS concerned in the case, had no power to impound or withdraw the Respondent’s passport in the manner he did. The impounding was illegal, since it violated the provisions of Section 38(1) of the Constitution and Section 5(1) of the Passport (Miscellaneous Provisions) Act. His Lordship held that the right to freedom of movement and the freedom to travel outside Nigeria is, accordingly, guaranteed by the Constitution, but the right to hold a passport was subject to the provisions of the Act.
The leading and majority judgement of the Apex Court, considered the question whether the right to travel abroad was concomitant with the right to hold a passport as posited by the Court of Appeal, and the concurring judgements of Ogundare, Ogwuegbu, and Onu, JJ.S.C agreed with the intermediate appellate court (per Ayoola, J.C.A (as he then was), that the right to hold a passport was concomitant with the guaranteed right to travel abroad. Thus, to the extent that only three out of the seven Justices of the Court that adjudicated over the case, agreed with the Court of Appeal on this point, the view that the right to hold a passport is concomitant with the right of exit from Nigeria which was guaranteed by Section 38 (1) of the 1979 Constitution (now Section 41(1) of the 1999 Constitution) was an obiter dictum. To be Continued…
THOUGHT FOR THE WEEK
“Life without liberty, is like a body without spirit”. (Kahlil Gibran)
INSOLVENCY DISCOURSE
Liquidation of Heritage Bank Plc: Matters Arising (2)
Treatment of Debtors
The revocation of Heritage Bank’s licence and on-going liquidation, does not extinguish the repayment obligations of its debtors. Rather, NDIC Act 2023 places NDIC in a stronger position than Heritage Bank was, with a view to recovering such debts. Below are the notable rights and powers which the NDIC may exercise in dealing with debtors of Heritage Bank, for the purpose of recovering outstanding debts due to Heritage Bank.
Power to Name and Shame Debtors
NDIC is empowered to name and shame recalcitrant debtors of Heritage Bank. In this regard, NDIC may publish names of such debtors in the media based on Heritage Bank’s records. In 2015, the Central Bank of Nigeria directed banks to publish information of delinquent debtors in national newspapers on a quarterly basis. There have often been concerns that such publications may expose banks and media firms to claims for personal data breach. Section 62(1)(n) of NDIC Act 2023 seeks to address this concern by providing for protection to NDIC and media firms against any liability resulting from such publications.
Power to Appoint Receiver
NDIC (as Heritage Bank’s liquidator) is empowered to appoint a receiver for any obligor of Heritage Bank in respect to loans, advances or any credit facility which Heritage Bank had granted. NDIC may exercise the power to appoint a receiver whether or not the debtor’s asset had been charged, mortgaged or pledged as security for the loan/credit from Heritage Bank. Furthermore, the receiver which NDIC has appointed is endued with all the powers of a receiver under CAMA: Section 62(1)(l) NDIC Act 2023.
Power to assume rights under GSI Scheme NDIC is also entitled to exercise the rights of Heritage Bank under the Global Standing Instruction (GSI) Scheme: Section 27(1) NDIC Act 2023. The GSI is a policy of the CBN and Bankers’ Committee whereby creditors (i.e. banks) are authorised to recover debts of defaulting customers by resorting to deposits held by such debtors in any other banks in Nigeria. The policy was introduced in August 2020 and is aimed at facilitating an improved credit repayment culture, reducing non-performing loans in Nigeria’s banking system and watch-listing intransigent loan defaulters.
According to CBN’s Guidelines released on 13 July 2020, the GSI Scheme applies only to individual debtors and not to corporate debtors. However, Section 27(3) of NDIC Act 2023 appears to widen the reach of NDIC to deposits in accounts of corporate debtors of Heritage Bank in other banks. The provision says that, “without prejudice” to Section 27(1) and (2) (which confer NDIC with the rights of Heritage Bank in the GSI Scheme), NDIC as liquidator is “entitled to deposits held in any bank account maintained by an obligor” with any other bank in satisfaction of any debt owed to Heritage Bank. This provision clearly does not differentiate between personal debtors and corporate debtors.
In the exercise of powers under the GSI Scheme, where NDIC has made a written demand to any bank, Section 27(4) of NDIC Act 2023 requires such bank to cause the debtor’s bank accounts stated in NDC’s written demand “to be immediately debited with the amount stated in the written demand and cause the said amount to be immediately paid over to the Corporation [NDIC]”. Accordingly, the banks are required to act without recourse to the debtors.
Power to avoid Security Interests created over Debtor’s Assets
NDIC is given limited power to avoid legally enforceable security interests (such as mortgages
and charges) created over the property or assets of a debtor to Heritage Bank or Heritage Bank’s assets. In this regard, NDIC may avoid enforceable security interests which were created: (i) in contemplation of insolvency of the debtor or Heritage Bank; or (ii) with the intent to hinder or defraud Heritage Bank or its depositors, other creditors or shareholders: Section 71(4) of NDIC Act 2023.
Power to Wind-up Debtors of Failed Banks
The NDIC is empowered to initiate windingup proceedings, against recalcitrant debtors of Heritage Bank. In general corporate insolvency, a creditor may petition for the winding-up of a debtor for inability to pay its debts: Section 571(d) of CAMA 2020. Section 68 of NDIC Act provides what is apparently an additional route which NDIC may initiate the winding-up of a defaulting debtor of a failed bank. Under this provision, NDIC is required to serve the debtor with a written demand notice and where the debtor fails or neglects to make payment within 30 days of the service of the written demand, the NDIC may apply for the winding-up of the debtor via an originating motion.
The Court will not make a winding-up order where, at the hearing of the originating motion, the debtor proves that: (I) it does not owe the demanded sum at all, or (ii) it has a counter-claim, a set off or a cross demand which equals or exceeds the sum owed to Heritage Bank. Certain provisions of CAMA 2020 apply to winding-up by NDIC under Section 68 of NDIC Act 2023. For instance, (i) a winding-up order made under Section 68 is deemed to have been made under CAMA 2020 and the provisions of CAMA 2020 will have effect, with appropriate modifications, to the winding-up proceedings: Section 68(5) of NDIC Act 2023; and (ii) a liquidator appointed upon the making of the winding-up order has all the powers of a liquidator under CAMA 2020 and is required to discharge his duties in accordance with CAMA 2020: Section 68(3) of NDIC 2023.
“The revocation of Heritage Bank’s licence and on-going liquidation, does not extinguish the repayment obligations of its debtors. Rather, NDIC Act 2023 places NDIC in a stronger position than Heritage Bank was, with a view to recovering such debts”
There are also diverging features between the winding-up framework in Section 68 of NDIC Act 2023 and the regime under CAMA 2020. First, for a creditor to be eligible to petition for the winding-up of a debtor under CAMA 2020, the creditor must show that the debtor is indebted in a sum specified in Regulations by the Corporate Affairs Commission (previously N200,000:, Section 572(a) of CAMA 2020). In comparison, any liquidated sum may ground a winding-up petition under Section 68(1) of NDIC Act 2023. In contrast, under Section 68(1), a Court may decline granting an originating motion “if the debtor proves … that it does not owe any liquidated sum at all”.
Second, under section 571(d) of CAMA 2020, a winding-up petition may be lawfully filed on the expiration of three weeks after the issuance of a statutory demand on the debtor. In contrast, under section 68(1) of NDIC Act 2023 an originating motion for winding-up may be lawfully filed on the expiration of thirty days after the issuance of a written demand notice on the debtor by NDIC.
Impact on Contracts
Avoidance of Antecedent Transactions: NDIC may void the transfer of an interest in any asset of Heritage Bank which was fraudulently transferred within five years before the commencement of its liquidation: Section 70 of NDIC Act 2023. NDIC may also trace and recover from subsequent transferees who are not purchasers in good faith. This is in furtherance of a liquidator’s traditional responsibility of swelling the assets of an insolvent for beneficial distribution to its creditors.
Instructively, Section 73 of the Banks and Other Financial Institutions Act (BOFIA) 2020 embodies more extensive avoidance provisions which NDIC may also employ. NDIC may set aside transfers and recover assets from: (i) gratuitous transfers to insiders or affiliates made within 5 years before liquidation; (ii) gratuitous transfers to third parties made within 3 years before liquidation; (iii) transactions at an undervalue made within 3 years of the liquidation; (iv) transactions based on forged or fraudulent documents to the detriment of creditors; (v) actions intended to withhold assets from creditors or impair their rights within 5 years before liquidation; (vi) preferences to creditors done one year before liquidation; and (vii) attachment of security interest within 6 months before the liquidation.
Unenforceability of Ipso Facto Clauses
The NDIC is empowered to enforce any
contract or deed entered into by Heritage Bank notwithstanding that such contract or deed provides for termination in the event of insolvency or liquidation of Heritage Bank: Section 71(1) NDIC Act 2023. From an insolvency law perspective, this is a typical anti-ipso facto provision. Ipso facto clauses are contractual clauses which provide for the termination of contracts upon the occurrence of insolvency or insolvency-related events. They are often inserted in contracts to protect non-insolvent parties from the unpleasant consequences of a counterparty insolvency.
In addition to the broad anti-ipso facto provision, Section 71(2) of NDIC Act 2023 prohibits the exercise of certain contractual rights against a failed bank like Heritage Bank within 180 days of the commencement of liquidation without the consent of the NDIC. These rights include, (i) exercising the right to terminate any agreement; (ii) declaring a default in any such agreement; (iii) obtaining possession of or exercising control over any asset of Heritage Bank; and (iv) revising any contractual rights of Heritage Bank.
In similar vein, Section 71(5) invalidates agreements which diminish NDIC’s interest in any asset of Heritage Bank. Such agreements may only be valid where they are in writing and were executed contemporaneously by Heritage Bank and the counterparty. In addition, such agreements must have been approved by Heritage Bank’s board and has continuously been on the record of Heritage Bank.
Repudiation of Burdensome Contracts
The NDIC may repudiate contracts or deeds which Heritage Bank is a party to where NDIC determines that they are burdensome and that the repudiation would promote the orderly winding-up of Heritage Bank: Section 71(3) NDIC Act 2023. A person aggrieved by such repudiation may institute an action for special damages which would be limited to actual loss suffered due to the repudiation. A repudiation of a contract does not amount to, or have the effect of, a rescission.
NDIC’s power to repudiate a contract is substantially analogous to a liquidator’s power to disclaim onerous contracts in general corporate insolvency: Section 663 CAMA 2020. A liquidator in general corporate liquidation may only disclaim executory contracts and not executed contracts. Executory contracts are contracts in which the obligations of parties are substantially unperformed. In contrast, executed contracts are those in which obligations are fully performed or in which property rights have already vested. Instructively, the wording of Section 71(3) of NDIC Act 2023 does not suggest that the NDIC’s power to repudiate contracts is limited to only executory contracts. To be Continued
‘We’ll
Expand the Frontiers of FIDA’
The International Federation of Female Lawyers, that is, La Federación Internacional dé Abogadas (FIDA) in its 60 years existence in Nigeria, has made appreciable and steady strides in the pursuit of its core objectives in alignment with the International parent body. Recently, a Nigerian, Mrs Ezinwa okoroafor was elected President of FIDA International in far away Cali, Colombia. The consummate advocate of gender and children’s rights, spoke with onikepo Braithwaite and Jude Igbanoi in an interesting interview, on her return to Nigeria after her election. She spoke about her journey to the top, what the main thrust of her stewardship will be, and the benefits it will bring to Nigeria, including the hosting of the FIda Triennial Convention here in 2027
Congratulations on your election as FIDA International President. Tell us about your trajectory in FIDA, until you emerged as the President of the foremost umbrella body of women Lawyers Major Ben Aburime (Rtd)
Thank you very much!
It's been an interesting journey in FIDA, as I have had the privilege and opportunity to serve in different capacities. I got elected as National Treasurer of FIDA Nigeria,
“Yes.
sometime in 1997. Thereafter I served as National Secretary. In 2006, I was elected Country Vice President and served for 2 terms in that capacity. Thereafter, I went onto the International scene where I served first as Regional Vice President (North and West Africa), then International Secretary, a position I held for two terms, working with the FIDA Presidents from North America (the Bahamas) and Europe (Switzerland). I also
We intend to organise a number of international events during this tenure, with the grand finale being the Triennial Convention, which will be held in 2027 here in Nigeria”
held the post of International Director, before my recent election as International President.
Should we expect major FIDA events or the Annual Conference in Nigeria during your tenure? Are there any added advantages for Nigeria, now that we have assumed the International Presidency?
Yes. We intend to organise a number of international events during this tenure, with the grand finale being the Triennial Convention, which will be held in 2027 here in Nigeria.
With Nigeria holding the International Presidency, first of all, it is positive news about Nigeria with the goodwill that it attracts. Again, by the Constitution, the International Secretariat moves to Nigeria, so clearly,
Nigeria and Nigerians will become the first beneficiaries of opportunities that arise in that period, including personal growth and advancement for those FIDA Members who will be involved in organising the events. Furthermore, I believe it offers FIDA Nigeria a further opportunity to showcase her excellent organising skills as she will be the host Branch for the 2027 Convention, which will of course, have some economic benefits for Nigeria. Most importantly, it will help us push across the international stage, those ideals and values that we, as Nigerians, hold dear.
What would be your core areas of focus during your tenure?
First, there will be a comparative analysis of laws and practices relating to women
President of FIDA International, Mrs Ezinwa okoroafor
‘We’ll
expand the Frontiers of FIDA’
across the world, to enable us do a gap analysis of some sort, and determine areas in which we can readily deploy our resources.
Second, will be a further review of our strategic plan to ensure that it remains fit for purpose.
We will also work to expand the frontiers of FIDA's spread across the world, moving into the Middle East and Asia, as well as strengthening our hold in Europe. Growth in the number of branches will inevitably mean an increase in the FIDA membership numbers worldwide, thus, expanding FIDA's influence.
All in all, we will be focused on protecting, preserving and promoting the rights and interests of women and children. Recently, minors were charged to the Federal High Court for treason, an offence punishable with death, as a result of them allegedly running around with the Russian flag during the #EndBadGovernance Protest in August. We expected that FIDA’s voice would be the loudest on this issue. But, on the contrary, we heard nothing from you. What is FIDA’s position on this, given the definition of the offence of treason and the provisions of the Child’s Rights Act?
The initial response to any incountry issues would typically come from the Branch, which then sends a report to FIDA International.
I must commend FIDA Nigeria, because, over the years, she has been most responsive on matters affecting women and children in Nigeria and beyond. This case was not an exception. FIDA Nigeria typically engages at different levels and in different forms, so the absence of a press statement or interviews should not necessarily be interpreted to mean that FIDA Nigeria and indeed, FIDA International, were, are or have been inactive on the issue.
As you would expect, FIDA is totally opposed to actions by State actors or other persons, that threaten or go against the welfare or best interest
of the child. Given our engagements thus far, we are confident that should similar circumstances arise in the future, the response of the Government will be quite different, and more in keeping with international best practice.
The number of out of school children in Nigeria has hit an all time high. Is this an issue that concerns FIDA? If so, what is FIDA doing about this?
FIDA is extremely concerned about the plight of children, especially in terms of their education, since it is acknowledged that education is a critical pathway to growth and self actualisation for the child, as well as development for both the individual and his or her community. You will find that FIDA's work includes a component on education and enlightenment, so a situation where there is a high number of out of school children is distressing and unacceptable to us. If we could wave a magic
“…. the menfolk had a good head-start, and the initial
advantage
in the legal
profession. Also, family challenges, cultural and religious issues have played a role in holding women back in the profession, and in decision making positions. The tide is however, changing. albeit slowly….”
wand that would address the issue, we would certainly have done so. Given our realities, however, we continue to advocate for the education of the child. Where State governments recognise education as one of the rights of the child and have provisions for free education, that is a welcome development. You would see FIDA members at the forefront of initiatives encouraging a focus on not just the number of children being educated, but also on the quality of the education being offered. We will also continue to engage with relevant parties regarding recognising education as a right that is enforceable in all the States of Nigeria; the right exists, but is not justiceable, so that children in those jurisdictions that are seriously lacking have a fighting chance. Our advocacy also extends to training and skills acquisition, to ensure that the child grows into an adult who is able to add value to his or her society.
Today, women are faced with major challenges all over the world. In Nigeria, we are still confronted with major issues like female genital mutilation, non-implementation of the provisions of the Childs Rights Act, underaged marriage, gender inequality in government and political offices, domestic
violence, sexual harassment in workplace, etc. What is FIDA doing to tackle these challenges?
In the various countries in which FIDA exists, the local Branches deal with the specific issues arising therein, but of course, with the backing of FIDA International. Such issues may have cultural, religious or even geographical colourations. We will therefore, lend every support to FIDA Nigeria to continue its efforts in the provision of free legal (volunteer advocacy) services, counselling, awareness creation, education and empowerment, through partnerships with relevant bodies that have similar interests and engagement with Government and its agencies where required, to ensure that the interests of women and children are best served. We also encourage women who are survivors of such crimes to speak up, because under the cover of silence, evil grows. FIDA stands ready to walk side by side with survivors, and ensure the prosecution of offenders - as has been seen in recent cases in Nigeria.
On the international scene, women and child trafficking, sex slavery and child labour pose major issues everywhere. What is FIDA doing in this regard?
FIDA works through its various branches and affiliates, to combat these challenges which you have recognised are world-
President of FIDA International, Mrs ezinwa okoroafor
‘We’ll
expand the Frontiers of FIDA’
wide. The typical response in matters like this, is to a) ensure the existence and implementation of appropriate laws to not only punish offenders, but also rehabilitate survivors; b) prosecute offenders in accordance with the provisions of such laws; c) partner with relevant Government agencies and nongovernmental organisations to create awareness about the evils of such activities and encourage reporting of suspicious activity in relation to these crimes. Most important though, is the inter-jurisdictional support where FIDA members are able to leverage the FIDA network and obtain assistance in terms of advice or legal support in one form or the other across countries or continents. It could even be just the exchange of ideas on how matters have been tackled, so that such processes can be adopted locally where appropriate.
It appears that FIDA has Law Students and Paralegals as associate members. How does this work when the organisation even by its name, is for qualified female Lawyers? Or is the admission of these associate members into FIDA done across all the FIDA Member Countries?
Actually, the FIDA International Constitution allows for student membership, as well as other classes of membership - patrons, honorary members, etc., so in admitting student members, country Branches like FIDA Nigeria are not acting in error. You will agree with me that sensitisation about the rights of women and children at such an early stage in the training of female Lawyers, can only be beneficial. It will ensure that their education is well rounded, and they are well equipped to not only appreciate the need to give back to society, but to demand inclusion and the rightful place for women and girls.
The training of paralegals is an invaluable tool for ensur-
ing access to justice, which several FIDA branches across the world are also happy to employ. This ensures that there is an initial response, in the local communities that FIDA is unable to quickly and easily reach. Offering these trained paralegals some kind of partnership status within FIDA, will obviously serve as motivation for them to carry out the assignment for which they have been trained. In the final analysis, it ensures some level of protection for our target audience, even if it be interim, and this is critical to FIDA.
Statistics appear to show that there are now more female Lawyers in Nigeria than males, yet, the top positions of the NBA and in the legal profession are occupied by men. What is FIDA doing to correct this anomaly?
You will agree that the men-
“In a recent report presented in Colombia by the Regional Vice Presidents for Africa for the 2021 to 2024 period, FIDA Nigeria recorded outstanding results. Over 7000 people attended FIDA Nigeria seminars, webinars and trainings for Lawyers, over 500 paralegals were trained, and 15 legislations were influenced with over 100 policy recommendations made”
folk had a good head-start, and the initial advantage in the legal profession. Also, family challenges, cultural and religious issues have played a role in holding women back in the profession, and in decision making positions. The tide is however, changing, albeit slowly, which is why, for example, you now have females as majority at the Bar, which is a good starting point. I am aware that FIDA has continued to encourage women Lawyers and especially her members, to play an active role at the NBA and run for elective offices. Typically where women are on the ballot, FIDA lends them support to enable them emerge winners. We also engage male candidates, to ensure that they have plans that are inclusive of the interests of the female members of the Bar.
As you know, it also takes a lot of courage, not to add the financial resource requirement and the physical stress, to run for elective positions in the NBA, so that is a huge deterrent. The numbers are growing however, with more females at the national level, and a few NBA Branch chairpersons being female after the last elections. Again, more females are also rising to important heights in the Judiciary, law firms and other aspects of the profes-
sion. I believe that it can only get better for the womenfolk, and in consequence, the larger society.
How would you assess the overall impact of FIDA in Nigeria since its inception in 1964?
From the perspective of my vantage point, I can say without any hesitation that FIDA has stamped its presence firmly in Nigeria; touching lives, facilitating legal reforms, educating, enlightening and empowering women and children especially the girl child. It has saved lives, by providing shelters for women and children who are victims of domestic violence, provided paralegal training for men and women in rural communities; thus, encouraging continuing access to justice. In a recent report presented in Colombia by the Regional Vice Presidents for Africa for the 2021 to 2024 period, FIDA Nigeria recorded outstanding results. Over 7000 people attended FIDA Nigeria seminars, webinars and trainings for Lawyers, over 500 paralegals were trained, and 15 legislations were influenced with over 100 policy recommendations made. In addition, over 50 million people were reached, through direct and indirect stakeholder engagements and public campaigns. With these statistics, it is clear that FIDA Nigeria, and by extension, FIDA International has been an asset to the country.
Thank you.
President of FIDA International, Mrs ezinwa okoroafor
ECOWAS Launches Electronic Certificate of Origin to Facilitate Trade
Eromosele Abiodun
In a bid to eliminate delays and facilitate the movement of locally made goods within member states, the Economic Community of West African States (ECOWAS), the commission yesterday in Lagos, launched an electronic certificate of origin.
Following the launch, electronic certificate of origin will be used in the four pilot countries including Nigeria, Ghana, Senegal, and Cote Ivories and would be extended to the 15 member countries.
Speaking at the launch of the E-certificate, Commissioner for Economic Affairs and Agriculture at ECOWAS, Massandje Toure-Litse said the use of an electronic certificate of origin will eliminate delays and fraud, and facilitate trade through the exchange of documents as Customs administration will be interconnected.
Represented by the Director of Customs Union and Taxation at ECOWAS, Salifou Tiemtore, she said ECOWAS is the first region in Africa to automate its
certificate of origin and the move will set an example for other areas of the continent.
She said the proliferation of free trade agreements as a way of creating markets, enhancing crossborder movement of goods, and stimulating countries’ productive capacity with its attendant economic benefits also poses significant challenges to developing and least developed countries.
According to her, “These countries have weak industrial capacity and are highly dependent on border taxes for economic development. This has led to the erosion of Customs revenues due to non-compliance with origin requirements and procedures. This has further destroyed the already weak industrial landscape of these poor countries and exacerbates the already precarious economic situation in which they find themselves.”
Also speaking, Head of Program at GIZ, ECOWAS-AfCFTA, s Bernard Tayoh, aid the launch of the electronic Certificate of Origin will lead to regional economic integration and benefits to member states, businesses, and citizens.
According to him, GIZ
collaborated closely with the commission by supporting the strengthening of the ECOWAS Trade Liberalisation Scheme (ETLs) by moving from the manual form of ETLs certificate of origin to the electronic certificate.
“This will ensure effective implementation by member states of the ETLs through the operation of an ad-hoc monitoring mechanism, named the ETLs Task Force. It will facilitate the determination of origin of goods by border agencies, render the ETL more effective, and make it more environmentally friendly for the community,” he explained.
On his part, a representative of WCO, Mette Azzam, said the Rules of Origin for Africa is a programme funded by the European Union and implemented by the World Customs Organisation at the general and national levels in Africa.
She said the aim is to support the end-to-end capacity to deal with origin, and ultimately support the harmonised and well-coordinated implementation in the regional economic communities.
AIHN President: Investment Banking Sector Attracted BigTransactions in 2024
Arthur Ariye
The investment banking sector of the economy handled major transactions that defined the outgoing year and requires recognition, the President, Association of Issuing Houses of Nigeria (AIHN), ‘Kemi Awodein, has said.
She spoke recenty during the Investment Banking Awards Dinner held in Lagos.
According to her, the award is meant to celebrate the achievements of investment bankers in Nigeria and motivate them to do more in the coming year.
Awodein explained that the several successful transactions facilitated within the year, including
Heineken’s $24billion acquisition of a controlling stake in Nigerian Breweries and Sahara Group’s $1billion purchase of Egbin Power, showed the strength and resilience of the investment banking market and the economy.
“The prominent transactions include Seplat Energy’s $650m bond issuance, aimed at expanding its energy operations, and Airtel Africa’s $500m capital raise, which was used to enhance telecommunications infrastructure. These initiatives were made more feasible by the improved economic environment following the reforms,” the AIHN president said.
The Chief Executive Officer, Chapel Hill Denham, Bolaji
Balogun, said 2023 wasn’t a bad year in the investment banking markets, but relative to the activity that has happened this year, it was a relatively lighter year.
The Head, Real Estate Finance, Stanbic IBTC Capital, Tola Akinhanmi, said the winnings were as a result of hard work by the team.
“It has been a difficult environment, but the ethos of the bank is focused on our clients. The team always finds solutions, despite the difficult environment, and creating solutions for client needs. So, I think being able to have this testament and recognition of that work is very fine, and will only push us to actually do more,” he said.
ICSAN Urges Firms to Leverage Tax Incentives for CSR
Omolabake Fasogbon
Organisations have been tasked on judicious use of tax incentives made available by both the state and federal governments.
This was reiterated at a summit by the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), Lagos Chapter, which further advised firms to deploy proceeds on incentives to enhance Corporate Social Responsibility Initiatives.
The summit themed, “Governance and Business Innovation
in Contemporary Times,” underscored effective governance in organisations, noting that approach to governance must be innovative to build resilience and positive outcomes.
Speaking, chairman of ICSAN Lagos state Chapter, Efosa Ewere called for balance between corporate governance and profitabilty, highlighting need for organisations to prioritise people and planet as they strive for corporate gains.
She advised further on effective stakeholder communication
and engagement to drive sustainable business practices.
She said, “To achieve this, much is expected from government in terms of policies and tax incentives to encourage companies to adopt sustainable and socially responsible business models.”
In fostering sustainable practices, Ewere hinted on moves by ICSAN to propose a bill to the National Assembly mandating organizations to balance profit with environmental and social responsibility.
Timothy Oulton Makes Entry into Nigerian Market
Timothy Oulton, the renowned functional art and masterpieces designer firm with 42 galleries across the globe has now made entry into the Nigerian market.
Speaking at the unveiling of their gallery in Lagos, the Managing Director and Global Head of Training and Development, Timothy Oulton, Jude Leach, said they believed in the Nigerian market after waiting for a long time to get the rightful partners.
She explained that every piece in the Timothy Oulton-a
british luxury furniture designer collection is designed and made in a workshop in China and distributed globally.
Leach stressed that they scout the globe for the most beautiful materials, while, “using time-honoured techniques and simple tools, by hand. It takes longer, but it’s the only way to achieve true authenticity.”
Commenting on why they are entering the Nigerian market, she noted that they are present in all gateway cities in the world.
“So we see Lagos as a very important gateway city.
Africa has always been on our list, we just needed to find the right partner, always. And it’s partner-driven, we wait for the right retailers who we know can sell and can promote a luxury product well and give great customer care.
“So whilst we are a British brand, we are culturally exploring the whole world right now because our stores are all over the place. That’s important to us, that we do not just stay in one region, that we explore and we learn how to integrate our products in all regions of the world,” Leach said.
The price of OPEC basket of twelve crudes stood at $87.33 a barrel on Monday, compared with $86.00 the previous Thursday, according to OPEC Secretariat calculations. The OPEC Reference Basket of
Crudes
following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
L-R; Managing Director, Payment Processing and Switching, Purepay, Interswitch, Akeem Lawal; Chief Innovation Officer, Interswitch, Adaobi Okerekeocha; and Managing Director, Digital Infrastructure and Managed Services, Interswitch Systegra, Jonah Adams during the Techconnect 4.0 Grand Finale press conference held in Lagos..... recently SUNDAY ADIGUN
Oluchi Chibuzor
Stock Market Down 0.21% on Profit-taking in GTCO, 29 Others
KayodeTokede
The stock market section of the Nigerian Exchange Limited (NGX) yesterday commenced this week’s trading on a negative note as investors profit-taking activities in Guaranty Trust Holding Company Plc (-3.4 per cent) and 29 others down the market indicator by 0.21 per cent.
The Nigerian Exchange Limited All-Share Index (NGX ASI) declined by 202.75 basis points or 0.21 per cent, to close
at 97,626.27 basis points with the stock market Year-to-Date returns settled at +30.60 per cent.
Similarly, the overall market capitalisation value lost N123 billion to close at N59.169 trillion.
On sectors, the NGX Banking Index (-1.6per cent), NGX Oil & Gas Index (-0.2per cent), and NGX Insurance Index (-0.2per cent) settled lower, while the NGX Insurance Index (+0.7per cent) was the sole gainer of the day. The NGXConsumer Goods index remained unchanged.
Also, market breadth closed slightly negative, as 29 stocks gained relative to 30 decliners.
Haldane McCall recorded the highest price gain of 10 per cent to close at N5.61, per share. SUNU Assurance followed with a gain of 9.81 per cent to close at N3.47, while NCR Nigeria up by 9.72 per cent to close at N4.74, per share.
Sovereign Trust Insurance appreciated by 9.52 per cent to close at 69 kobo, while Tantalizers rose by 9.32 per cent to close at N1.29, per share. On the other hand,
Secure Electronic Technology led the losers’ chart by 9.84 per cent to close at 55 kobo, per share. DAAR Communications followed with a decline of 9.68 per cent to close at 56 kobo, while Austin Laz & Company lost 9.40 per cent to close at N2.41, per share.
Guinea Insurance lost 9.09 per cent to close at 50 kobo, while Lasaco Assurance depreciated by 8.63 per cent to close at N2.33, per share.
Meanwhile, the total volume traded increased by 83.09 per cent
to 671.260 million units, valued at N10.640 billion, and exchanged in 10,464 deals. Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 245.252 million shares valued at N6.227 billion. Haldane McCall followed with 47.143 million shares worth N264.469 million, while Tantalizers traded 35.345 million shares valued at N45.595 million.
Guinea Insurance traded 32.863 million shares valued at N17.845 million, while Prestige Assurance
transacted 32.753 million shares worth N25.816 million.
Looking forward, United Capital Plc said “the equities market is expected to retain its buy interest as investors cherry-pick undervalued stocks. However, given the high interest rates in the fixed income and money markets, we expect some bearish undertone to persist in the equities market as fixed income biased investors take advantage of the high yields in the fixed income space.
TRADED ASOF NOVEMBER 25/24
Emmanuel Addeh in Abuja
Six key operators, including four International Oil Companies (IOCs) and two indigenous oil and gas firms recorded a total revenue of $38.5 billion in 2023, a new document released by the federal government has shown.
The newly-launched ‘Compendium for Investment in Nigeria’s Oil and Gas Industry’ by the Ministry of Petroleum Resources indicated that despite the huge revenue, the oil sector’s contribution to Nigeria’s Gross Domestic Product (GDP) dropped from 9.77 per cent in Q3 in 2019 to 5.48 per cent in Q3, 2023. Nigeria largely depends on oil and gas export for its foreign
exchange earnings, although the sector has struggled for about four years in terms of ramping up crude oil production as well as ensuring the seamless working of the downstream.
According to the document, the IOCs, including Shell, raked in $10.5 billion; ExxonMobil made $9.2 billion; Chevron made a total revenue of $8 billion, while Total Energies earned a gross revenue of $7.5 billion.
On the other hand, the two Nigerian oil companies profiled in the report showed that Seplat earned $1.8 billion, while Oando’s revenue was $1.5 billion in the 12 months of last year. However, these figures were before the recent rash of divestments from
the IOCs to the Nigerian oil firms.
In all, despite the $38.5 billion revenue, Shell which controls 27 per cent of the oil market among the six companies, made a net profit of $1.8 billion; ExxonMobil earned $1.6 billion; Chevron’s was $1.2 billion, while Total Energies earned a net profit of $900 million.
Seplat’s net profit was $300 million, according to the document, while Oando’s was $250 million, with the entire net profit by the six companies hitting $6.050 billion during the period.
Aside Shell’s 27 per cent share of the oil sector, ExxonMobil controlled 24 per cent during the period under review; Chevron had a share of 18 per cent; Total Energies’ share of the market
was 15 per cent, while Seplat and Oando Plc had 5 per cent market share apiece.
“The oil and gas sector experienced a robust recovery in 2023, with total revenue reaching $38.5 billion, a significant increase compared to previous years. This growth is attributed to rising global oil prices production increase and capacities.
“The total net profit for the sector rose to $6.05 billion, reflecting improved operational efficiencies and cost management strategies. Companies like Shell, ExxonMobil, and Chevron continue to dominate the market, collectively accounting for nearly 70 per cent of total revenue.
“Indigenous players, such as
Seplat and Oando, are gradually increasing their market share and earnings, focusing on local production and distribution. This shift reflects a growing trend towards local content development and self-sufficiency,” the document added.
Besides, the federal government data showed that crude oil production has been dipping since 2015, hitting 2.2 million barrels per day that year; 2 million bpd in 2016; 2.1 million bpd in 2017; 2.3 million in 2018; 2.2 million bpd in 2019 and 1.8 million bpd in 2020.
In the same vein, in 2021 the slump in crude oil production continued, dropping to 1.6 million bpd; 1.5 million bpd in 2022 and
1.4 million bpd in 2023. On the challenges impacting earnings and hobbling activities in the sector, the government document blamed the regulatory environment; impact of external factors; increasing environmental concerns, among others.
“The complex regulatory landscape and policy changes can impact operational efficiency and investor confidence, affecting earnings. Dependence on global oil prices means that external economic factors, such as geopolitical tensions and shifts in demand, can significantly influence revenues.
Dike Onwuamaeze
The Nigerian Electricity Regulatory Commission (NERC) has declared that powering the Nigerian industrial sector with adequate electricity could be realised with deliberate policy measures that would encourage investors to make long term capital investments in country’s power sector.
The Chairman and Chief Executive Officer of NERC, Mr. Sanusi Garba, stated this during the maiden edition
of the Manufacturers Association of Nigeria’s (MAN) energy summit with the theme, “Power Supply Adequacy for Industrial Growth in Nigeria.”
Garba also said in his presentation titled, “Opportunities and Challenges of the New Electricity Act for Reliable Power Supply to Industrial Sector,” that attaining adequate power supply to the industrial sector could only be sustainable if right pricing of electricity is embraced and implemented.
He explained that the Electricity Act 2023 has provided the foundation for improving the Nigerian power sector but its implementation without addressing fundamentals challenges would not guarantee desired improvement.
According to him, the outcome of the Electricity Act 2023 would depend on, “how we implement it, which could either nurture or puncture it depending on policy choices as well as the dispositions of the state governments.
“Nigerian power sector currently struggles to meet customer’s expectations due to myriad of challenges. Investments are, therefore, required but capital and investments follow the path to recovery.
“However, access to capital requires bankability of the sector since a sector that does not guarantee recovery cannot attract investments. So, litigation against right pricing will only worsen the quality of (electricity) supply.”
Speaking during the summit,
the Minister of Power, Mr. Adebayo Adelabu, said that the federal government is working tirelessly to provide sustainable solutions that would address the long standing energy challenges that have hampered the country’s industrial growth.
Adelabu said: “As many of you in the manufacturing sector are aware, Nigeria’s industrial growth potential has been hampered by decades of insufficient and unreliable electricity.
“This has increased operational
cost, forced manufacturers to rely on alternative and often expensive sources of energy that reduced our industrial output’s competitiveness and deferred much-needed foreign direct investments in key industries.”
The minister, however, added that he is standing before the manufacturers, “with a message of hope and renewed commitment from government of Nigeria.
Of Reforms and Dantsoho’s Election as PMAWCA Chairman
The unanimous election of the Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho as the first Nigerian chairman of Africa’s Premier Maritime Body, PMAWCA, is a testament to acceptance of the federal government reforms in the maritime sector and confidence in his ability to transform the industry in West and Central Africa, writes Eromosele Abiodun
After several years of agonising wait, the Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho was last week elected the Chairman of West and Central Africa’s premier maritime body, Port Management Association of West and Central Africa (PMAWCA), at the 44th annual council and 19th roundtable of Directors General of PMAWCA in Conakry-Guinea. It was indeed a crowning moment for Nigeria. With over 400 delegates from over 20 countries present, expectations were high and at the end, Nigeria triumphed. Many of the delegates were unanimous in their views that Dantsoho will turn the fortunes of the body around. Before his election as PMAWCA chairman, Dantsoho who was just appointed to transform the NPA a few month ago has done a phenomenal job putting in place structures that will see Nigeria wrestle cargos from neighbouring countries.
PMAWCA was established in October 1972 under the auspices of the Economic Commission for Africa (UNECA) and it covers the seaports located along the West Coast of Africa including Mauritania and Angola. The shipping area covers a coastline about 12,000 km. Its ports handle about 300 million tons of maritime import/export trade for the sub-region excluding crude oil.
PMAWCA consists of 24 regular member Ports and 8 associate members spanning from Mauritania to Angola along the West African coast. It includes Anglophone, Francophone, and Lusophone countries with official languages in English, French, and Portuguese, as well as observer members in Europe. Its objective is to cooperate and share knowledge on best practices in port management and operations in order to deliver efficient and effective port services to our clients (ships and cargo owners), while maintaining the best culture of safe.
In his acceptance speech, Dantsoho said the recognition represents a significant milestone in the continuing march of West and Central Africa Maritime states towards global competitiveness and delivery of world class services. He added that the Nigerian government commitment to a revolutionary turnaround of Nigeria’s maritime industry, has been characterised by reforms in critical segments of the industry, including port rehabilitation and modernisation, infrastructure, digitisation and automation.
These measures, he added, would undoubtedly boost operational efficiency as well as revenue generation, while augmenting the federal government’s efforts to diversify the economy by boosting non-oil exports.
According to him, “It is with great honour and privilege that I stand before my friends from the countries of West and Central Africa today to accept the mantle of leadership of our great association, PMAWCA and to serve as its chairman. I would like to seize this occasion to affirm Nigeria’s will and determination clearly demonstrated by the Hon Minister of Marine & Blue Economy, Adegboyega Oyetola in line with the Renewed Hope Agenda of President Ahmed Bola Tinubu to sustain the momentum established by my predecessor Mr Martin Boguikuoma Managing Director of Gabon Ports Authority and to continue to put all efforts needed in order to further consolidate the economic cohesion of the region and to actualize the interests of member ports.”
While calling for collaboration among member states, he said it is only through robust commitment and collaboration that mandates can be achieved.
“Therefore, I will be seeking your usual cooperation and advice in helping to ensure that we continue to develop the maritime sector in our various countries and the West and Central African sub-region in general.
“Recalling our deliberations at the Board of Directors meeting, the need to relocate the PMAWCA headquarters to a more visible and befitting place in lagos Nigeria, the training needs of the Association and the PCS is dear to my heart and will do my very best in this direction to achieve these goals,” he said.
FG COnGRAtulAtEs DAntsOhO
In a statement to congratulate Dantsoho, the Minister of Marine and Blue Economy, Adegboyega Oyetola, said Dantsoho’s election is a testament to the fact that the effort to turn around the port economy in Nigeria is being recognised by global stakeholders.
Oyetola said the recognition will further fuel Nigeria’s effort to reclaim its maritime global relevance under President Bola Tinubu’s renewed hope agenda.
He said the political will of the President to create the Ministry of Marine and Blue Economy is a monumental step towards harnessing the vast untapped potentials of Nigeria’s maritime sector.
According to him, “I congratulate Dantsoho for his election, it is a responsibility that I am sure he can deliver on. His election has proven the renewed hope agenda of Mr President to turn around the port economy by creating the Marine and Blue Economy was a step in the right direction.
“President Bola Ahmed Tinubu to create the Ministry is a monumental step towards harnessing the vast untapped potentials of Nigeria’s maritime sector. This decision is not only a demonstration of the President’s deep understanding of the economic possibilities of the sector, but also a clear indication of his political will to ensure that Nigeria reclaims its rightful place as a key maritime player globally.
“The maritime industry has the potential to transform Nigeria’s economy, create jobs, and improve livelihoods. With our rich coastline and strategic location, the country is well positioned to become a key hub for maritime activities in Africa. The creation of this Ministry therefore reflects the government’s commitment to building a future where the blue economy plays a major role in national prosperity.”
DAntsOhO sEEks hElP FOR lAnDlOCkED COuntRiEs
In his opening address at the conference, Dantsoho advocated for among other measures, the sustained pursuit and completion of international highway, rail routes cutting across Hinterland and Coastal, such as the Niger, Lagos, Tema and Abidjan to ensure service provision to the landlocked states efficiently and at reduced cost.
The NPA boss who noted that out of the 44 landlocked countries globally Africa accounts for 16 said it is a moral duty for the coastal states to provide access to the sea for the landlocked countries.
According to him, “The question thrown by emerging trends and the current roundtable is more like servicing the Hinterland without scrambling for the service on one hand and how to build shared capacity by coastal states to ensure service provision to the landlocked states efficiently and at reduced cost.
“In doing the above, there should be sustained and sincere agenda to engage in the following: Sustained pursuit and completion of the International Highway routes cutting across Hinterland and Coastal, such as the Niger, Lagos, Tema and Abidjan International Highways, sustained creation of common International Rail routes cutting across Hinterland and Coastal States.”
Others, he added, are; leveraging on the strength of each other to improve on trade facilitation to landlocked countries, sharing of ideas and information on advancement in technology that can result to enhancement of service delivery, technological connectivity between littoral states to expedite transit cargo transportation particularly where multiple transit by water is required within the sub region.
“Establish multilateral agreements and trading partnerships with neighbouring coastal countries and other regional partners, infrastructure planning: coordinating investments in port infrastructure and transportation networks. The proposed Abidjan to Lagos highway by ECOWAS Heads of State which will link the most economically dynamic cities and ports and the most densely populated urban areas in West Africa is a welcome development.
“Regulatory harmonization: Aligning policies and procedures to facilitate smooth cargo movement. This is critical for transhipment cargo, joint initiatives for security, safety, and environmental protection. This is critical for attracting and sustaining economic development, combining cargo volumes to negotiate better rates with shipping lines, aligning vessel schedules to reduce congestion and increase efficiency. Ports in the region, particularly the Shippers’ Councils must continue to work together on this.”
BEst PRACtiCEs FOR tERMinAl OPERAtiOns
He also called for, “sharing best practices for terminal operations and capacity utilisation, collaborating on rail, road and inland waterway connections, emergency response planning: Joint contingency planning for accidents or disruptions and engaging in diplomatic and cultural exchange programs: Good relationships foster trust and cooperation.”
He stressed that benefits such as; increased efficiency, improved competitiveness,
enhanced customer satisfaction, reduced costs and better utilisation of resources can be derived if the strategic and operational complementarities are synergised.
“From the foregoing it is clear that the relationship between maritime shipping and the hinterland is interdependent, which implies thst surmounting the challenges associated with fluidity of Port operations requires a strong nexus between the maritime space and the hinterland as the two constitute the domain of global freight circulation. Conclusively, ensuring the full optimization of Hinterland Connectivity, requires a diverse approach that combines infrastructure development, digital advancement and diplomatic cooperation measures which I believe PMAWCA is thoroughly equipped and is poised to foster,” he stated.
CAtAlysts FOR GROWth
Speaking, the Managing Director of the Port Autonome de Conakry, Mamadou Biro Diallo said Ports are key hubs for world trade and catalysts for growth.
”But for this growth to be truly beneficial, it must extend beyond the port interface into the hinterland. This is where connectivity and the fluidity of logistics chains play a decisive role. Connectivity between the ports and the hinterland is based on a varied infrastructure network, including roads, railways and sometimes even waterways.
”That’s why the Port Autonome de Conakry is giving pride of place to these challenges, which also involve supporting the development efforts of hinterland countries by offering quality services. Optimising port hinterland services requires an integrated vision of connectivity, fluidity and reliability. This requires strong collaboration between public and private players, a commitment to sustainable investment in infrastructure and greater adoption of new technologies. Together, we can meet these challenges and build more efficient supply chains that will support not only local economies but also global trade,” he stated.
Outgoing PMWACA Chairman, Mr Martin Boguikoma handing over staff of office to Dantsoho
VISIT OF STUDENTS TO NEMA HEADQUARTERS...
L-R: Staff of Government Girls Secondary School, Tudun Wada Birnin Kebbi, Mr Abubakar Alkali; students of the school- Sa'adatu Bello and Sabira Namadina; Director General, National Emergency Management Agency (NEMA), Mrs Zubaida Umar; other students-Nusaiba Umar, Rahmatu Usman, Sa'adiya Sa'idu; and Science teacher, Mrs. Esther Dabai, during the visit of the students that are members of Junior Engineers Technicians and Scientists(JETS) Club of the school to present their award-winning project on flood detection at the NEMA Headquarters in Abuja…last Wednesday
Saraki, Elumelu Congratulate
Atiku Abubakar on 78th Birthday
Chuks Okocha in Abuja
Former Senate President, Bukola Saraki and House of Representatives Minority Leader, Ndudi Elumelu have congratulated former vice president and the Presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubukar in the 2023 election as he marks his 78th birthday today.
In his statement congratulating Atiku, the former Senate President said, ''His Excellency,
Alhaji @Atiku Abubakar, stands as a compassionate servant of the people whose lifelong dedication to the nation’s progress and unity has earned him the admiration of Nigerians across the globe.
''As he marks his 78th birthday today, my family and I join all Nigerians in extending our warmest wishes for a very happy birthday. We pray that Almighty Allah (SWT) continues to bless him with good health, strength, and wisdom to sustain his invaluable service to our nation. Ameen.''
In his congratulatory message, Ndudi Elumelu said: ''With thanksgiving to God, I heartily congratulate former Vice President of the Federal Republic of Nigeria and the PDP Presidential Candidate in the 2023 Presidential election, H.E. Atiku Abubakar, GCON (Wazirin Adamawa), as he marks his 78th birthday today.
''Atiku Abubakar is a quintessential statesman; a courageous democrat, humble, kind-hearted, God-fearing and people-focused leader, the very voice of the voiceless,
who remains relentless and unwavering in dedicating his intellect, resources, skills, global personality and connections towards the wellbeing of Nigerians and the entrenchment of good governance, justice, fairness, equity, accountability and Rule of Law in our nation.
''Nigerians celebrate and admire Atiku Abubakar for his excellent performance in the service of our nation, especially as the Chairman of the National Economic Council under the Obasanjo/Atiku-led PDP administration between
Northern Lawyers Condemn Attempt to Remove CCT Chairman Illegally
Segun Awofadeji in Bauchi
A group of Northern lawyers have dismissed as illegal and unconstitutional last Wednesday's sack of the Chairman of the Code of Conduct Tribunal, Yakubu Danladi Umar.
The group who described the action of the Senate as not only constitutionally flawed and legally untenable called on President Bola Ahmed Tinubu and the executive arm to act within the confines of the law.
The lawyers who addressed a press conference at the secretariat of the Nigeria Union of Journalists in Bauchi, Monday, said the constitution is very clear on the issue.
In a statement read on their behalf by the spokesperson of the Lawyers for the Cause of Justice in Bauchi,
Barrister Nasiru H. Bala, the legal practitioners denounced the Senate's recent decision to remove Hon. Justice Danladi Umar without any legal basis.
The lawyers stated that the Senate’s resolution, which was passed last week, violates the provisions of the 1999 Constitution of the Federal Republic of Nigeria. According to Lawyers, the Constitution explicitly outlines the process for removing the Chairman of the CCT, a process which requires presidential action and concurrence by two-thirds of both the Senate and the House of Representatives.
The Northern lawyers highlighted key sections of the Constitution to support its position.
"The Senate’s reliance on Section 157(1) is misplaced," Bala asserted, emphasizing that the CCT is not
included in the offices covered under this section. He explained that the principle of legal interpretation, *expressio unius est exclusio alterius* - the express mention of one thing excludes others - further invalidates the Senate’s decision.
The Northern legal practitioners expressed disappointment at the federal government’s handling of the issue, noting that the process for removing the CCT Chairman has been contentious since it first arose in July.
The group accused the Senate of acting unilaterally and without regard for the Constitution, rendering its decision "void ab initio."
The group therefore aligned itself with legal experts such as Professor Yemi Akinseye-George
SAN, Wahab Shittu SAN and Yunus Abdulsalam (SAN), urging the federal government under Tinubu's administration to strictly adhere to constitutional provisions.
The lawyers emphasized the need for the Attorney General of the Federation to ensure that government actions, particularly concerning judicial officers, respect the principles of separation of powers and uphold democratic governance.
They called on the entire National Assembly to reconsider their stance, urging the President Bola Ahmed Tinubu and the executive branch to act within the confines of the law.
"The rule of law must be upheld at all times, particularly in cases involving judicial officers, whose roles are vital to democracy and governance," Bala stated.
1999 and 2007, during which period Nigeria emerged from the decrepitude of a recession to become one of the fastest growing economies in the world and for which the people continue to repose confidence in Atiku Abubakar’s exceptional capacity for leadership.
''On this special day, I join
millions of Nigerians and world leaders in celebrating this Icon of democracy and good governance and prays to the Almighty Allah to grant Atiku Abubakar many more years in the service of our dear fatherland and humanity. Congratulations and Happy Birthday, Your Excellency''. the former minority leader said.
Okpebholo Shuts Down Edo E-governance Platform
Adibe Emenyonu in Benin City
Governor Monday Okpebholo of Edo State has allegedly shutdown the e-governance system in the state.
The system as gathered was closed Friday, November, 22nd on the orders of the governor, making the civil/public servants return to the use of papers for memos and other communications.
During his administration, the immediate past governor, Mr. Godwin Obaseki, said he will be the last governor of Edo State to use papers.
However, that dream has been dashed following the reported shutdown of the system by the present administration.
Reacting to the allegation, Chief Press Secretary (CPS), Fred Itua, denied the information, saying that a press conference would be held at the office of the Secretary to State Government (SSG), where the issue will be addressed.
Few minutes to the appointed
time, a message came putting the briefing on hold, adding that a new time will be communicated.
However, a source closed to Government House, told THISDAY that the system was the first the present administration went for immediately after taking over.
The source who did not want his name mentioned, frowned at the move, saying this will set the state backward for another ten to fifteen years of the new policy is allowed.
According to him, "We know that some public servants did not have access to the e-governance assets. We also know that most weren’t adequately trained. We also know the system needed resources (kits and software) are readily not available nor accessible.
"But what is expected of the governor is to refocus on those three issues listed above so that e-governance can be swiftly restored throughout the state and not just on a few desks."
NAPTIP to Establish Command in FCT to Tackle SGBV
Michael Olugbode in Abuja
The National Agency for the Prohibition of Trafficking in Persons (NAPTIP) has announced the establishment of a Command in the Federal Capital Territory to tackle all cases of Violence Against Persons especially Sexual and Gender Based Violence (SGBV) within the nation’s capital.
Speaking in Abuja at the 2024 Stakeholder’s Coordination Meeting on the implementation of the Violence Against Persons (Prohibition) Act 2015 and Corresponding State Laws, the Director General of NAPTIP, Binta
Bello said: “To further illustrate and solidify our commitment towards eradicating this social menace, I am glad to inform you that the Agency is proposing the establishment of a Command in the F.C.T to tackle all cases of Violence Against Persons especially SGBV within the nation’s capital.
“It is expected that the Command will enhance quicker response to SGBV cases, improve coordination among stakeholders, provide specialized support services for survivors and strengthen the investigation and prosecution of SGBV cases.”
The DG, represented by the Director of Research and Programme Development, Mr. Josiah Emerole, said with the latest move, “We believe that this Command will serve as a model for other states and strengthen our collective efforts to eradicate SGBV within the F.C.T.”
On her expectations from the meeting, she said: “I also have the strong conviction that we will leave here with a renewed vision towards eradicating the ills associated with violence against persons and in turn make the country safer and more habitable.”
She stated that: “The National
Agency for the Prohibition of Trafficking in Persons (NAPTIP) remains committed to working with all States, the mandate Secretary of the Women Affairs Secretariat of the FCT and the Civil Society Organisations in the implementation of these laws as this will improve the coordination and synergy needed to ensure the effective implementation and building a society where everyone sees violence in any manner as an anathema to societal growth.”
She charged that: “While wishing you fruitful deliberations, I implore all participants to see the fight against violence against persons as
one we must win through collective engagement and actions. The days of working in silos are over and the time for better synergy is now and beginning from whatever we do in this room today.”
In her welcome remarks, the Acting Director, Violence Against Persons Department, NAPTIP, Mrs. Toyota Odugbesan while thanking the Ford Foundation for its support, said: “Today’s meeting is an important time for us, to connect, proffer guidance, reflect on our concerns, review major successes, identity gaps, discuss challenges, assess the level
and effectiveness of interventions efforts and proffer recommendations and far-reaching strategies associated with the implementation of the VAPP Act 2015 and State Violence against Persons (Prohibition) interventions efforts in the country for future programming.”
She noted that: “The discussion today therefore will be an opportunity for us to engage on the results achieved and how we can better our activities towards achieving the vision of the Beijing Conference including SDG 5 (1-3) which aims to achieve gender equality and empower all women and girls.
HONOURING A MARKETING ICON...
Damagum Demands Bye-elections for 27 Vacated Seats in Rivers Assembly
Chuks Okocha in Abuja
In a surprising turnaround, the acting National Chairman of the Peoples Democratic Party (PDP), Umar Damagum, has written to
the Independent National Electoral Commission (INEC), demanding the immediate conduct of bye-elections to fill the 27 seats vacated by lawmakers loyal to Nyesom Wike in the Rivers State House of Assembly.
According to a letter titled: “Demand for Immediate Conduct of Fresh Elections in 27 State Constituencies of Rivers State Which Have Become Vacant Pursuant To Section 109 (1)(g) Of
The Constitution,” dated November 13, 2024, Damagum highlighted the unlawful defection of the 27 lawmakers to the All Progressives Congress (APC) on December 11, 2023.
Momodu: An Aspirant Gave Each Delegate $30,000 During PDP Primary in 2022
Chuks Okocha in Abuja
One of the presidential aspirants in the 2022 presidential primary election of the Peoples Democratic Party (PDP), Dele Momodu, has revealed how one of the presidential aspirants gave each delegates a whooping $30,000 during the primary election in May 2022.
He also regretted spending about N50 million to buy the presidential nomination form of the PDP in 2022. Momodu, publisher of Ovation Magazine, spoke in a recent interview on Eden Oasis published on Sunday.
He said, “One of the candidates
paid as much as $30,000 per delegate, and we had 774 delegates.”
The journalist and politician said the primary was heavily monetised with a particular aspirant doling out $30,000 on each of the 774 delegates who voted during the election.
The politician said he would not vie for any party’s presidential ticket unless he is adopted as a consensus candidate.
“Experience is the best teacher. I have come to realise that there are powers that you can describe as principalities that control Nigeria.
“Unless a major political party decides to adopt me — where you
have a consensus of people who say Dele Momodu is best suited to change and to lead Nigeria. Then I will consider it.
“But if I have to pick my money to buy a presidential nomination form of about N100 million… I spent about N50 million to buy the form for the last one.
“N50 million would have bought me a property. It was a waste. I didn’t get even one vote because everything was monetised.
“So, how do you want to compete with them? They have stolen the country blind and are
doing all kinds of deals to make money, especially those in the oil-rich areas.
“It is not easy. You can’t compete with them. That’s why they insult Nigerians anyhow because of the amount of money available to them in raw cash. There’s no country where people buy raw cash like Nigeria.
“The bulk of their money is not in any bank. So, they are not traceable to any bank. So, they have the money. If today you say to some politicians that you need $500 million to become a president, they will find it. So, people like us, where will I start from?”
NAF Airstrikes Destroy Terrorists' Food Bank in Lake Chad Basin
Linus Aleke in Abuja
The Nigerian Air Force (NAF), yesterday, said the air component of operation Hadin Kai, uncovered and destroyed terrorists' food bank in Lake Chad Basin.
The NAF noted that through the airstrikes, it demonstrated its unwavering commitment to defending the nation and its people.
A statement by Director Public Relations and Information, Nigerian Air Force, Air Commodore Olusola Akinboyewa, said intelligence
account of the emergence of the Dangote Refinery and as you know, the importation fuels inflation or escalates the exchange rate. The other source of inflation has been that of cost of drugs.
previously linked terrorists in this location to recent attacks on troops in Kareto on 16 November 2024.
According to him, "In a bold and decisive operation, the Air Component of Operation Hadin Kai (AC OPHK) on 23 November 2024 delivered a crushing blow to terrorist elements in Jubillaram, a notorious enclave in the Tumbuns area of the Lake Chad Basin.
"This strategic location, identified through meticulous intelligence efforts, served as a critical food storage site and a sanctuary for terrorist commanders and fighters.
"Intelligence had previously linked terrorists in this location to recent attacks, including the assault on troops in Kareto on 16 November 2024.
"In response, Nigerian Air Force (NAF) fighter jets launched a robust air interdiction mission, destroying identified structures used as storage facilities and neutralising terrorists on-site. Mop-up operations using cannons ensured the complete elimination of fleeing hostile elements."
The operation's success, he said, was made possible by extensive Intelligence, Surveillance, and Reconnaissance (ISR) missions
conducted over several days, confirming the presence of active terrorist structures camouflaged under dense vegetation.
"The destruction of the terrorist enclave, including food storage facilities, severely disrupted their logistical operations, while the neutralisation of a significant number of fighters diminished their capacity to launch future attacks.
"This mission demonstrates the NAF's unwavering commitment to defending our nation and people, acting singly and supporting surface forces in counterterrorism operations," he said.
Damagum stated that, according to constitutional provisions, their defection had caused them to forfeit both their membership in the PDP and their legislative seats.
The letter read in part: “The leadership of our great party, the Peoples Democratic Party (PDP), wishes to draw the attention of the Commission to the gross violation of Section 109 (1)(g) of the Constitution of the Federal Republic of Nigeria 1999 (as amended) by 27 members of the Rivers State House of Assembly following their unlawful defection from our party, the PDP, to the All Progressive Congress (APC) on Monday, December 11, 2023.”
Damagum noted that the PDP had nominated all 32 State House of Assembly candidates in Rivers for the 2023 general election, winning 32 seats in the state assembly.
However, just six months after their inauguration in June 2023, 27 of these members defected to APC, violating Section 109(1)(g) of the Constitution, which prohibits such defections unless they occur under specific conditions of division or merger, neither of which applied in this case.
He concluded by demanding
that INEC fulfills its constitutional duties and initiate the process for conducting fresh elections to fill the vacancies created by the defections. The letter also included a list of the 27 lawmakers and their constituencies. Damagum expressed his appreciation for INEC’s commitment to deepening democracy in Nigeria and urged the commission to act swiftly in addressing the issue.
A Federal High Court sitting in Port Harcourt, Rivers State, has adjourned till January 21, 2025, to rule on applications in a suit filed by the Labour Party (LP), seeking that the seats of the 27 lawmakers, who allegedly defected from their Peoples Democratic Party (PDP) to the All Progressives Congress (APC) be declared vacant.
In the case filed by the Labour Party and registered in Suit number FHC/PH/25/2024, the Labour Party is also seeking the court to determine whether the alleged defection of the 27 lawmakers was proper. The suit is further seeking that INEC should conduct a by-election to fill in the alleged vacant seats of the State House of Assembly, where the Labour Party and other interested parties can participate.
Humanitarian Crisis: Over 268 IDPs Spread Across 158 Camps in South East, Says Kalu
Adedayo Akinwale in Abuja
Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, has said the South East region was facing a severe humanitarian crisis, with over 268,000 internally displaced persons (IDPs) spread across 158 camps and affected communities.
He said the crisis in the South East region was characterised by displacement, violence, and ecological challenges, including natural disasters like gully erosion that have destroyed homes and left many without shelter.
education.
"Southeast geopolitical zone of Nigeria is grappling with a severe humanitarian crisis, characterised by displacement, violence, and ecological challenges.
"Report presented today underscores the grim realities: over 268,000 internally displaced persons (IDPs) are spread across 158 camps and affected communities. The states of Enugu, Imo, “Abia, Anambra, and Ebonyi bear the brunt of this crisis, with precarious living conditions leaving many without access to clean water, adequate shelter, healthcare, and education.
“On interest rates, we need to remember that government has deregulated subsidies, not only on interest but also on foreign exchange.
“We believe that because the subsidies represent savings, what used to go into private pockets will now accrue to the public revenue stream.
“The federal government has finalised an arrangement for massive unprecedented domestic production and importation of drugs that will be distributed through public healthcare centers all over the country in 2025.
“The federal government, the state government, the local government councils will have significantly more revenue than they ever have.
“We expect that this would, going forward, moderate the amount of borrowing by the public sector and I think this will go a long way to stabilise the macroeconomics.
“But there is nothing that we will do as an administration to bring
down the rate of interest, because that has gone with the reform winds.”
Meanwhile, the NNPCL failed to tell Nigerians the exact date it's refineries would start working.
The lawmakers however expressed delight that the federal government was carrying out forensic audit on the claims by the NNPCL over its claims that the federal government owes it N8trn debt.
Kalu disclosed this while speaking on Monday in Abuja at a roundtable discussion with International nongovernmental organisations (INGOs) in a programme titled: "Through Their Eyes: A Call To Action, Addressing Humanitarian Challenges In The South East".
The deputy speaker, in a statement issued yesterday, said Enugu, Imo, Abia, Anambra, and Ebonyi States were the most affected, with many people lacking access to clean water, adequate shelter, healthcare, and
"Shelter, in particular, remains a pressing concern. Families live in makeshift camps or overcrowded host communities, exposed to health risks, insecurity, and a loss of dignity. "Natural disasters like gully erosion have destroyed homes, leaving little to return to. This crisis demands not only immediate intervention but also sustainable strategies to restore stability and hope."
L-R: Dr. Kunle Awolaja, Dr. Femi Olugbile, Engr. Charles 'Yele Akindayomi, Prince Adedapo Adelegan, Mrs. Adelegan, Mr. Tunde Adeoti; and Mr. Tomide Olukuade, at the award of Marketing Icon on Prince Adelegan at the Nigerian Marketing Award in Lagos…recently
Police Nab 523 Suspected Kidnappers, Cattle Rustlers, Others, in Kaduna
John Shiklam inKaduna
Operatives of the Kaduna state police command said they have arrested 523 suspected criminals and rescued 102 victims of kidnappers.
In a statement yesterday in Kaduna, the Police Commissioner, Ibrahim Abdullahi, said those arrested include 26 suspected kidnappers, 12 cattle rustlers, 97 phone snatchers and 17 car snatchers, among others.
Enumerating his achievements since he assumed office as the state’s police commissioner over a month ago, Abdullahi said the arrests were made within one month of his assumption of office.
He said some of the items recovered from the suspects include five AK47 rifles, two pistols, one submachine gun, 105 rounds of live ammunition, 283 rustled cows and 20 sheeps. “As we are now the ember
NGO Tackles Challenges of Motherhood in Young Women through Sensitisation
Kuni Tyessi in abuja
A non-governmental organization( NGO), Community Initiative for Character Molding and Entrepreneurship Development (CICMED) has expanded its web of sensitisation in creating a new generation of young girls and women through teaching them by the ropes what motherhood entails in the twenty-first century.
Managing Director and CEO of the initiative, Kefas Elisha Tigga, stated this in Abuja during the 2024 Future Planters Young Women Leadership and Entrepreneurship Conference with the theme: ‘Nigerian women taking ownership of a sustainable future’. He said not knowing and
understanding what motherhood should be like has become a dangerous situation for the future and it has become important to equip young girls and women with the right kind of information, right ideas, as well as the right connections for an average tomorrow.
Acknowledging the mindset of Africans and its communal nature, Tigga who stated that the organisation is putting in the young women how to create values within the system, have the right network, and how to be able to build a community, further reiterated that in the young women conference, the initiative is planting a seed for the future it hopes will be better today.
months, efforts have been intensified to tackle crime across the state. Black spots known for criminal activities were raided, leading to the arrest of over 350 suspects.
“Among those apprehended are suspects involved in phone snatching and Sara suka, demonstrating a firm commitment to improving public safety and
reducing crime during this critical period”, he said. Giving details of the arrests Abdullahi said: “On 24th November, 2024, the command received a distressed call reporting
suspicious activities of bandits in large numbers attempting to kidnap farmers harvesting beans in a farm at Idasu village, Kidandan in Giwa LGA of Kaduna state.
4,449 Police Officers Take Promotion Case to Industrial Court
Oluchi Chibuzor
The National Industrial Court, Abuja has fixed December 18 for further hearing in a case filed against the Nigeria Police Force (NPF) and the Inspector General of Police (IG) by 4,449 police officers on the grounds that the IG refused to decorate them
with their new ranks having been promoted and approved by the Police Service Commission (PSC) pursuant to its Act.
Counsel representing the Claimants in the matter, Barrister Muka’ila Yahaya Mavo argued and prayed that the court, presided by Hon. Justice R.B Haastrup, should order the NPF and the IG to give effect and implement the 19th plenary decision meeting of the PSC that sat and approved the promotion of 4, 449 Police officers.
The decision of the commission was in line with section 6 (1) (a) of the PSC Act and section 16 (30 (a) of the Police Act.
Muka’ila Mavo further argued that it has been the tradition between the NPF and the PSC and that has been given a judicial flavour by the Supreme Court where the court held that the PSC is responsible for the appointment, promotion and discipline of all police officers (other than the IG).
Minister Restates FG’s Commitment to Combat Sexual Harassment in Schools
The Minister of Women Affairs, Hajia Imaan Sulaiman-Ibrahim, has reiterated the commitment of President Bola Ahmed Tinubu’s administration to combat sexual harassment in educational institutions.
The minister gave the assurance yesterday in Abuja while speaking at the National Summit on
Yusuf
Flags Off
Ahmad Sorondinki in Kano
Kano State Governor, Abba Yusuf yesterday flagged off the recertification of certificate of occupancy (C-of-O) to all residential and commercial structures across the state.
Osun Distributes N1.999bn to Contributory Pensioners
Yinka Kolawole in osogbo
Osun State government yesterday distributed a bond cheques totalling a sum of N1.999 billion to contributory pensioners in the state.
Governor Ademola Adeleke who distributed the cheque noted that it was a combination for both state and local governments contributory pensioners and part
of government’s determination to settle pension indebtedness.
The governor remarked that “as we mark our second year anniversary, I restate our resolute policy of standing attention to pension matters. Our leadership will continue to resolve individual and personal issues plaguing the sector. In specific terms, we are working to standardise pension administration to ensure pensioners
are treated with all required dignity and timeliness.”
He said: “From the beginning of our administration, we have left no one in doubt as to our passion to address challenges facing pensioners and the pension sector. We had declared then that senior citizens deserve due attention from state leadership as a matter of duty. From November 27th, 2022 to date, we have kept faith with our pledge. “
STS Hosts Climate Conference to Discuss Challenges, Opportunities for UN SDGs
The annual Sustainability Table Series (STS) in its 8th edition, is set to convene Africa’s most influential leaders, policymakers, entrepreneurs, and sustainability experts on Thursday, November 28, 2024, in Victoria Island, Lagos.
This year’s STS will address several policy-related issues crucial to sustainable development, including advocating for fiscal policies that encourage businesses to adopt circular economy principles, promoting policies to strengthen the cultural and creative industries as economic growth drivers, advocating sustainable infrastructure projects, such as
renewable energy, energy-efficient buildings, and waste management systems. It will also be addressing gaps in social safety nets to ensure equitable access to resources and promoting inclusive policymaking that involves a range of stakeholders, including community organizations and businesses.
Gunmen Abduct Niger Correction Officer, 14 Others
Laleye Dipo in minna
A Correction Officer with the Niger State Correctional Centre, DSC Innocent Ogbu, and 14 others have been abducted by suspected gunmen.
Addressing Sexual Harassment in Tertiary Institutions in Nigeria organised by Alliances for Africa (AfA) in collaboration with the Committee of Gender Directors in Nigeria.
Sulaiman-Ibrahim described sexual harassment within educational institutions as “a global menace and one of the most pervasive
Issuance
violations of human rights, particularly against women and girls, which effects transcend physical harm, leaving survivors with emotional, psychological, and socio-economic scars. She, however, called on universities in Nigeria to establish Sexual Assault Referral Centres (SARCs) to professionally address cases of sexual harassment.
The Executive Director of AFA, Ihuoma Obibi, emphasised that the lack of an adequate response has allowed perpetrators to act with impunity.
She noted that the summit aims to establish a standard framework for institutions, ensuring that every student can thrive without fear, regardless of their gender.
of Certificate of Occupancy in Kano
During the flag-off ceremony, the governor explained that the state has been making frantic effort to create an efficient and transparent land management system.
He said the development followed an introduction of reforms in land administration with the renovation of the Kano State Geographic Information System (KANGIS) and the Ministry of Land and Physical Planning’s administrative block. According to him, the flag-off would provide comprehensive
recertification of C-of-O to ensure accurate, secure land records, protect investments, and resolve disputes, urging landowners to comply promptly.
The governor highlighted the complete renovation of KANGIS and the ministry’s facilities, now equipped with modern ICT infrastructure to enhance service delivery, reflecting the administration’s commitment to professionalism, transparency, and development.
On his part, the Commissioner of Land, Abduljabbar Umar,
urged the state to register their ownership interests and individual certificates of ownership for the formal registration of unapproved residential and commercial structures and informal settlements, which have emerged over the years due to rapid population growth and limited development control.
He said: “This process will render all current titles void after a set period, requiring owners to revalidate their titles in line with the new GIS system.”
The identities of other victims are yet to be known. The Controller of the Nigeria Correctional Centre in Niger State, Mr. Maikudi Garba Adamu, confirmed the incident in a telephone conversation with THISDAY yesterday.
Ogbu, along with the other victims, were reported to have been kidnapped last Saturday on the Lokoja- Enugu road.
Adamu said his officer was on his way to Enugu for a DSC development course when the vehicle in which he was traveling with the other victims was flagged down and AK 47 rifles pointed at them.They were then at gun point herded into the bush, the controller said
Aba Fashion Week 2024 Holds November 27-29
According to a statement, the event is set to take place from November 27 to 29, 2024, at the GIA Event Centre, Aba.
“The three-day affair promises
Aba Fashion Week returns for its fourth edition with the theme “Threads of Heritage,” honouring the blend of traditional craftsmanship and modern fashion that defines Aba’s unique role in Nigeria’s creative landscape. This landmark event will showcase the talents of both emerging and established Nigerian designers and artisans, featuring notable names like Ria Bani, Packson Couture, and John Outfit, who will bring their unique perspectives to the runway.
a vibrant line-up of activities: November 27 will feature Street Fashion, celebrating grassroots creativity in an open-air showcase; November 28 will host a Masterclass with fashion icons, offering valuable insights from industry leaders; and November 29 will culminate in the highly anticipated Runway Event.
Accugas Denies Responsibility for A’ Ibom Power Outage
Accugas Limited, a subsidiary of Savannah Energy, has refuted claims suggesting its involvement in the power outage affecting Akwa Ibom State.
In a statement, the company linked the power disruption to a fault in the 132-KV Aba-Itu transmission line, which is hindering the flow of electricity from the National Grid into the state.The company, which reaffirmed its commitment to work closely with the state government on its economic development agenda, has therefore urged the immediate restoration of the transmission line to resolve the issue.
According to the statement, as the sole gas supplier to Ibom Power Company (IPC) since 2014, Accugas plays a vital role in powering IPC, one of 23 thermal generation companies supplying energy to the National Grid.
More Loans, More Pains and The Season of Discontent
“Ihear that the National Assembly has approved the external borrowing of a $2.2 billion for the Tinubu administration to address the fiscal deficit in the 2024 Budget”
“Bros, I tire. I just tire. What on earth do they do with all these borrowings?”
“There is actually a deficit of $9.17 billion deficit in the 2024 budget, when you add Eurobonds, interest on Ways and Means, foreign debt and domestic debt, and I hear that Nigeria can borrow more in line with Section 21(1) and Section 27(1) of the Debt Management Office (DMO) Establishment Act of 2003.”
“The DMO will quote anything to please any government in power. Is that woman still there? My concern is what they do with all the money”
“They want to service debts and finance capital projects”
“In November? I would have thought that by now, we should have been talking about Budget 2025. This is November. We are rushing to borrow more money as the year ends. Don’t they want to maintain the budget cycle again? I am confused. And which capital projects is anyone talking about? SUVs, for the lawmakers? Presidential jets? Foreign trips? I am sorry I can’t see any capital projects. They just want to borrow more money for consumption, not productivity. The roads are bad. Nobody talks about the railway system in the country anymore. Air travel is a nightmare. The refineries are still not working. The cost of living is high. The average man cannot breathe, cannot eat, cannot live. Yet, the Federal Executive Council approved more external borrowing and it took the National Assembly 48 hours to rubber-stamp the loan.”
“Did you expect anything different? The National Assembly is an extension of the Executive arm of government. It will rubber stamp anything that comes from the Executive and that is the case with the VAT Bill too.”
“But if it is a bill on things that would pave the way for good governance, the same National Assembly could spend years huffing and puffing, but anything that would benefit the elite and make it easier to have access to more of the state’s resources, the APC-dominated National Assembly would act quickly. The real wonderful in wonderland.”.
“Have you heard?”
“You and your rumours.”
“This one is hot oh”
“The problem with you people in this country is rumour-mongering. Una too dey carry gist. Una carry gist so tey, you even carry phone spread rumour that Otunba Mike Adenuga had died. This is a man who gave many of you the opportunity to use mobile phones in your life. The Spirit of Africa. A Patriot. I am sure it must have been one yeye man, using a useless, miserable phone. Nigerians are something else.”
“In Yoruba culture, when your death is prematurely and wrongly announced, it means the person will live long. We pray for long life for Otunba Mike Adenuga, in very good health, upstairs and downstairs and in all ways, with more grace and prosperity. Do you remember the story of Dr. Nnamdi Azikiwe, nationalist, founding father of the nation, pan-Africanist. On November 8, 1989, his death was announced meanwhile the man was hale and hearty and working on a book in his library when he read his own obituary? NTA had rushed to do a documentary on the life and times of the inimitable Zik. Newspapers showed up the following morning with editorials. Columnists wanted to be the first to announce Zik’s death. Such was the force of his impact in politics, business and newspapering. Except that Zik was alive and he lived for another seven years. A burial committee was even announced. Bros, some of the members of that burial committee
died before Zik. In Yoruba culture, when people wish you dead, they are actually praying inadvertently for your longevity. May Otunba Mike Adenuga live longer than those who want him buried before his time. So shall it be. Amen.”
“Is it not journalists? When journalists are not killing people, they are sending them to jail, without conviction. Who is a journalist these days?”
“I don’t know. I guess things are so bad now that anybody with access to the internet can put any information out there on social media. It is the price that the world is paying for the democratization of the information process, the Indomie-nisation of news, the collapse of traditional media systems and the emergence of charlatans in what was once a sacred profession. But let me give you my gist now?”
“Okay. Fire! Just make sure it is not a fabrication by some ignoramus”.
“Hen. Hen. I hear that”
“You heard. Hen Hen.”
“I heard that principal officers of the National Assembly, in fact two of them from the South, locked horns, with one holding the other’s agbada around the neck, both trying to suffocate each other. A blow. A jab. I don’t want to mention names. One Northern Senator had to wade in to prevent bloodshed.”
“The story sounds fabulous. Mention names”
“I hear they are trying very hard to cover it up and to prevent pictures of the ugly tiff getting to the media. My source is impeccable.”
“Oh. Oh. Oh. Story. Story. But what has this got to do with the external borrowing approval. What we hear is that the lawmakers all agreed on that. So, what could be the problem after they passed one of the fastest pieces of legislation in Nigeria. No public hearing. Nothing.”
“It was a fight over who could show that he was more loyal to the Presidential Villa.”
“Must be a fight over who gets what for his own stomach or for his own people. Afterall, you said a Northern Senator waded in. He shouldn’t have, if that is true. What is wrong with that Senator? Who asked him to stop whatever could have been like a Jake Paul/Mike Tyson fight or a Joshua/Dubois fight, He should have allowed the two gladiators
to beat each other up, and by now, we would have known more. I like it when politicians fight. We get to know more, because it is we, the people who suffer in the long run.”
“Just as the people of Rivers state are the ones going to suffer if the Court of Appeal declares when it delivers its reserved judgement in the FAAC Allocation matter, that the Rivers State Government led by Governor Sim Fubara cannot receive any further Federal Allocations if it does not have a properly presented, passed and legally valid Budget. Who suffers?”
“The people suffer, and that is because we are running a bowl-in-hand Federation. The states are so dependent on the Federal Government for manna. But nobody should blame the judiciary. The source of the problem is the political gladiators of Rivers State and the elders in that state who talk from both sides of the mouth and serve both Wike and Fubara. One state. Two masters. They have all managed to turn Rivers State into an atomistic society perpetually at war against itself.”
“I know that phrase. It sounds familiar. That must be Professor Emmanuel Ayandele, former Vice Chancellor of the University of Calabar describing the old Cross Rivers state of the 80s, in the days of late Professor Okon Edet Uya who used to talk about Oron-phobia But those ones were even intellectualizing the politics of Cross Rivers State. What you have in Rivers State is sheer elite thuggery, politics without conscience, agbero politics and the dictatorship of one man who thinks he is the lord and master of Rivers politics.”
“So, I insist that whatever the judiciary decides is not the problem. The problem in Rivers state will not go away whatever the Court of Appeal decides except President Tinubu intervenes and cuts off the oxygen that is fuelling the chaos in that state.”
“No. President Tinubu is not the headmaster of any state of Nigeria. It is the people of Rivers State that should resolve their own problems. Let the critical actors solve their own problems. For all I care at this stage, they should lock themselves up in a room and have a slugfest. Whoever comes out alive is the winner.”
“What kind of talk is that? You are recommending jungle justice. Do you want to kill someone? Just look at it. If you lock up Sim Fubara and Nyesom Wike, who says nobody can take Rivers away from him in a room, what will be the likely outcome?”
“I don’t know. This is no longer a matter for the courts. Let them fight, and let us know who is the man”
“This is a democracy. Only Barbarians resort to fist-fight.”
“Then let President Tinubu wade into the matter. This is the point I am making. Wike is his Minister. He is so powerful in Rivers State because he is a big chief in the Federal Capital Territory. The President should remove the rug from his feet. Take the oxygen that makes it possible for him to Buga oh, from him and you will see there will be peace in Rivers State.”
“Now, I am convinced that you do not understand politics. That is not how politics works. President Tinubu needs Wike as much as Wike needs him. It is not about Tinubu sacking Wike. Who told you that will guarantee peace in Rivers? Why should Rivers be important to Tinubu? Is it possible that a strong, properly empowered Wike is politically more relevant to Tinubu than the whole of Rivers state put together?”
“How can one man be so important?”
“In politics, what you don’t know, you don’t know. Politics is the ultimate magic, the topmost art of illusion, known to man. Why do you think President Donald Trump is on his way back as the President of the largest economy in the world, despite his many
shortcomings including being a convicted felon?”
“Politics does not always throw up the best people in the society. I know. I guess we must know that. And the people who vote have their own ideas. We just need to let the people know that whatever you decide, you must be ready to live with it. In four years, you can change your mind.”
“Yeah. Yeah. I hope the people of Rivers State are learning and learning good. And we will see how the Americans would learn their own lessons under Trump 2.0 too.”
“Trump has just named his full complement of Ministerial nominees, 15 in total.”
“I saw that, but I won’t say I am impressed with the list. Just a collection of MAGA loyalists, yes men and women and a few old rivals, completely eclectic. What is Robert Kennedy Jr. doing as nominee for Secretary of Health and Human Services for example? Another nominee is a wrestling CEO, named as Linda McMahon to take charge of the Education Department, a more or less inexperienced choice. Pete Hegseth has sexual abuse issues, like Matt Gaetz, hanging around his neck. At least Gaetz stepped down before he could be openly disgraced by the Ethics Committee of the House of Representatives. And then this Scott Bessent – an openly gay man appointed by Trump who touts Christian evangelism and far-right ideology even when he may not be able to quote the Bible. Politicians are the same everywhere. They just look out for themselves first. America first in my view means Donald Trump first. But let the Americans live with it. They have made their choice.”
“All said and done, America has nominated just 15 people, not a nominee per state or per ethnicity. I have not seen anybody saying their own ethnic group has not been represented. No Black. No Latino. No Arab-American and yet no issue.”
“It is their Constitution, and their culture. We are talking about America not your “whatever” countries in the Third World, please. This is the richest country. The budget that Brooke Rollins as Agriculture Secretary will control is more than the annual budget of some three African countries! In any case, what matters is what a Trump Presidency means for the world, climate change, global peace, the competition with China. But I don’t even want to beat myself over other people’s problems. In two days, America will celebrate Thanksgiving. I have been seeing some pictures of very regal, fleshy Turkeys. Chop time! Fun time.”
“You like food too much. You are reading about American Thanksgiving and you are already doing long throat. I don’t have Thanksgiving on my mind. I am thinking of Christmas. Will there be money for Christmas? School fees? Money for gifts. I hope you know that today, the Monetary Policy Committee of the Central Bank of Nigeria is going to announce their usual benchmark rate, CRR, MPR, asymmetric corridor which will tell us how hard life is, how harder it may become and whether or not we can breathe a little. With inflation rate close to 40%, may the Lord help us.”
“You may be surprised. Benchmark rate may actually come down”
“I want to be surprised. But I actually also know this country so well that when things go up, they don’t come down.”
“Not quite my friend. The ex-depot price of fuel has just come down from N990 per litre to N970 per litre. And that is a fact. Christmas gift from Dangote Refinery through the now peaceful oil marketers to us”
“What a wonderful fact!”
“Our God has answered our prayers, He has sent to us, early ahead of Christmas, a Father who cares.”
