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Coastal Highway To Link Six Geopolitical Zones – Umahi

April 29, 2024

By Ayodele Oni

The Minister of Works, Dave Umahi, an Engineer, has revealed that the Lagos/Calabar Coastal Highway will be modified in such a way that it will connect the entire six geo-political zones of the country.

To this end, the Minister disclosed that President Bola Ahmed Tinubu has given him a directive to begin the immediate design of the 1000 kilometres Sokoto- Badagry Coastal Highway.

According to the News Agency of Nigeria, (NAN), Umahi spoke on Sunday, after he inspected the end of Section one, Phase One, of the Lagos-Calabar Coastal Highway and its realignment in Lagos.

“I’m happy that Mr President has also directed me to start the immediate design of the Sokoto-Badagry Coastal Highway.

“This one is a spur of the Coastal highway, and that one is 1000 kilometres.

“We’ve started the design and I’m very sure that as soon as Federal Executive Council approves it , we will be starting at Sokoto side, which is the zero point.

“We also have another spur which is going to go from Enugu -Abakaliki-Ogoja going to Cameroon.

“So we have that spur and it’s about 361 kilometres, going through Otukpo to Benue to Nasarawa and ends up at Apo in Abuja.

“We are also going to be presenting it to Mr President, and when this is done, then the coastal routes like we promised will go to circle the entire country.”

The Minister explained that upon completion, the coastal road would connect the South-West, South-South, North-East, North-West and North-Central regions of Nigeria.

Umahi expressed strong belief in the significance of the coastal road project, which he said would be a first in Africa.

“So, this will be the legacy that we’ve never seen in Africa, and I think that God has sent Mr President to do this and he’s just doing it.

“He’s a man of courage and we are also learning courage following him.”

Zenith Bank Shareholders Approve Holdco Structure; Lender Poised For Growth

Tosin Olatokunbo

April 29, 2024

Shareholders of Zenith Bank Plc unanimously approved the restructuring of the Bank to a holding company during a court-ordered Extraordinary General Meeting (EGM) held virtually from Zenith Heights, Zenith Bank Plc, Victoria Island, Lagos, on Friday, April 26, 2024.

In accordance with the Scheme of Arrangement dated March 28 2024, pursuant to Section 715 of the Companies and Allied Matters Act (CAMA), 2020 between the Bank and the holders of the fully paid ordinary shares of 50 Kobo each in the Bank, the shareholders voted to transfer 31,396,493,787 ordinary shares of 50 Kobo each held in the issued and paid-up share capital of Zenith Bank Plc to Zenith Bank Holding Company Plc (the HoldCo) in exchange for the allotment of 31,396,493,787 ordinary shares of 50 Kobo each in the share capital of the HoldCo in the same proportion to their shareholding in the Bank. Similarly, the shareholders approved that each Existing GDR Holder receive, as consideration for each existing GDR held, one new HoldCo GDR.

The shareholders also approved that all of the shares held by the nominees of the Bank in Zenpay Limited, a direct subsidiary of the HoldCo, together with all rights and liabilities attached to such shares, be transferred to the HoldCo. The Board of Directors were also authorised to delist the shares of the Bank and the Existing GDRs from the official list of the Nigerian Exchange and the London Stock Exchange respectively as well as re-register the Bank as a private limited company under CAMA Act 2020.

In his remarks during the EGM, the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, thanked the shareholders for their unwavering commitment, which has been instrumental in the Bank’s outstanding performance over the years. He expressed his delight at witnessing the transition of the Bank to a holding company, which is anticipated to position it advantageously for exploring emerging opportunities in the Fintech space while bolstering its digital and retail banking initiatives.

Also speaking during the EGM, Dr. Ebenezer Onyeagwu, the Group Managing Director/Chief Executive, lauded the Founder and Chairman, Jim Ovia, CFR, for his pivotal role in creating an institution that has consistently been a trailblazer in the nation’s financial services industry. Dr. Onyeagwu expressed his optimism about the Bank’s growth trajectory in the coming years as it transitions into a holding company structure.

According to him, “The HoldCo structure presents an opportunity for us to unlock value for shareholders in terms of opportunity in other sectors beyond banking. The first part is Fintech, where we have already received the approval and the license from the Central Bank of Nigeria (CBN), which we are launching soon. It is going to be focusing on an area that we know has not been touched on by anyone. So it is more like us finding an open wide space where we can begin to operate, and with a HoldCo, what that means is that we have an opportunity to diversify our investment. We can begin to look at other business verticals that were restrained by the kind of authorisation we have. So, it presents a big opportunity for us to have a wider lens and scope in terms of what we can do. It will also position us to think of opportunities beyond Africa. We will be looking at key business verticals that have the potential to enable us to create value for shareholders.”

On the recapitalisation plan of the Bank, Dr. Onyeagwu stated that the Bank is on course to receive the needed shareholder’s approval in the forthcoming Annual General Meeting (AGM) slated for May 8, 2024, which will kickstart its capital raising effort in line with the CBN directive. He expressed confidence in the Bank’s ability to raise the stipulated capital, stating that amongst its peers in the industry, Zenith was expected to raise the least amount due to its already robust capital base.

Presidential Jets Break Down During Tinubu’s Trips To Netherlands, Saudi Arabia

Tosin Olatokunbo

April 29, 2024

President Bola Ahmed Tinubu was forced to fly a commercial jet during his recent trips to the Netherlands and Saudi Arabia, The Gazette reports.

The magazine reports that President Tinubu left the country last week on business trips to the two countries to further foster economic ties.

It was also reported that the president secured a $600 million maritime investment from Danish shipping and logistics firm A.P Moller-Maersk,

The presidency said on Sunday that the deal is to help in expanding port infrastructure to accommodate more container shipping services in Nigerian ports.

The online newspaper however reports that President Bola was ferried to an economic summit in Saudi Arabia by a commercial aviation operator this weekend after his main luxury jet was taken into rehabilitation and a second aircraft, he was travelling with developed a technical snag in the Netherlands, Peoples Gazette learnt from officials familiar.

The Nigerian leader arrived in The Hague on April 23 for a series of economic and diplomatic engagements at the instance of Prime Minister Mark Rutte. He learnt shortly before he was scheduled to depart the Netherlands on Friday that his plane had suffered unspecified problems, officials said under anonymity to discuss sensitive details of the president’s itinerary. Another official said some of the technical complications included an oxygen leak.

President Bola Tinubu with Hans Akerboom, deputy protocol chief of the Netherlands, during departure on a chartered jet from Rotterdam. April 26, 2024.President Bola Tinubu with Hans Akerboom, deputy protocol chief of the Netherlands, during departure on a chartered jet from Rotterdam. April 26, 2024.

This forced the president and his delegation to leave behind the Nigerian government aircraft and use a charter jet company to facilitate their onward journey to Saudi Arabia for a special session of the World Economic Forum in Riyadh, arriving on Friday night.

The Gazette was told Mr Tinubu and some of his personal aides left Rotterdam on a Falcon 8X 9H-GRC private jet for the summit, which is scheduled for April 28-29. The rest, including several ministers and other high-ranking administration officials, made the trip on separate support aircraft and commercial airlines.

President Tinubu arrives in RiyadhPresident Tinubu arrives in Riyadh, Saudi Arabia, on a chartered commercial flight. April 26, 2024.

The knotty aircraft, a Gulfstream G550 class, was originally dedicated to Vice-President Kashim Shettima. However, the president used it on his foreign trip because his own dedicated carrier, the Boeing 737 business jet class operated by the Nigerian Air Force 001, has been under maintenance for several weeks.

On March 25, the plane was taken to a maintenance facility at EuroAirport Basel-Mulhouse-Freiburg, a commercial administrative region jointly controlled by France, Germany, and Switzerland. As of Saturday night, it had not been returned to Nigeria.

The Gulfstream jet was later fixed and sent to Saudi Arabia, where it is now waiting to return the president to Nigeria after his official trip on April 29, The Gazette heard.

Vice-President Kashim Shettima arrives in Iperu-Remo. April 27, 2024.Vice-President Kashim Shettima arrives in Iperu-Remo. April 27, 2024.

The vice-president was also forced to piggyback on chartered planes for his official trips. He was in Iperu-Remo on Saturday in a private plane hired from a Lagos-based consortium.

A spokesman for the president did not immediately return a request for comments about the crisis. The Nigerian Air Force also declined to comment.

This latest incident is far from the first for the presidential air fleet. According to maintenance records reviewed by The Gazette, the Boeing 737 has been taken for extensive repairs at least seven times over the past three years.

Former President Olusegun Obasanjo ordered the plane, and Nigeria took delivery on April 14, 2005. The former Nigerian leader started using the luxury aircraft, first manufactured in 1998 and with a capacity of about 30 passengers, for his air travels on June 29, 2005. The plane has now served all Nigerian presidents in the uninterrupted Fourth Republic, advancing its reputation as one of the most iconic features of the Nigerian presidency.

Former President Muhammadu Buhari sent the aircraft for repair between late September and early October 2021. Barely two months later, the plane suffered another major fault, forcing the government to again return it for rehabilitation for nearly three months.

Records showed the plane was repaired again in early April and early May 2023 as part of efforts to get it in top shape before Mr Tinubu’s inauguration on May 29, 2023.

The Gazette learnt that over $8 million has been spent fixing the plane for different vulnerabilities since December 2022 alone. This is a significant amount for a country of 230 million with an unenviable reputation as the world’s poverty capital.

Aviation monitors have publicly decried the huge maintenance expenditure as wasteful, prescribing instead that a new plane would serve the country better, renew confidence in air travel safety for future presidents and stave off unnecessary costs that could be diverted to other crucial areas of economic development.

Whereas Mr Tinubu has managed to carry out his official duties despite a pattern of last-minute troubles with presidential planes, administration officials are nonetheless concerned that the frequent glitches, besides being immensely embarrassing for the country, could potentially inflict a catastrophe of historic proportions.

“Many of us in this administration are more concerned about the clear danger that the planes are signalling than any ridicule from their frequent breakdowns,” an official said. “We are being told that the planes are old and there should be serious consideration towards their replacement.”

Nigeria has had a near-perfect record in air travel among its leaders since the first prime minister, Tafawa Balewa, flew private with his entourage in the early 1960s, including on a trip to the United States on President John F. Kennedy’s invitation in 1961.

However, concerns among officials have simmered since February 2019, when former Vice President Yemi Osinbajo survived a crash while travelling on a chartered helicopter for a scheduled campaign event.

Although the report of a formal investigation into the crash was never made public, initial questions were raised about the helicopter’s operators’ poor maintenance culture.

Not a few Nigerians have lamented the number of aircraft in the presidential fleet which cost the country billions of naira to maintain annually.

Other Nigerians have also clamoured for some of the aircrafts to be sold, and proceeds from them to be used for critical infrastructure in the country.

The latest incident has therefore thrown up new posers on the viability of keeping many aircrafts in the presidency, aviation experts say.

PRESASS 2024: Aviation Minister Tasks Participants On Downscaling Climate Information

James Orji

April 29, 2024

Minister of Aviation and Aerospace Development, Festus Keyamo, has tasked participants at the Regional Forum Workshop on Seasonal Forecasts of Agro-hydro-climatic characteristics of the rainy season for the Sudanian and Sahelian zones of West Africa and the Sahel (PRESASS), to downscale outcome of the workshop to their local communities.

Keyamo who spoke in Abuja during the closing ceremony of the workshop on Friday, 26th April 2024, said;

“The outcome of the Regional Climate Outlook Forum for West Africa and the Sahel is a great planning tool for governments and policymakers across the region. We are very aware of the great challenge of the 21st Century, climate change, extreme weather events and food security to mention a few. To combat these challenges, it has become imperative that weather and climate information are not only accurate but also produced and disseminated early. Thus, the need for Early Warnings. It is based on this that the Nigerian Government deemed it fit to provide all the necessary support through the Nigerian Meteorological Agency (NiMet), the Nigerian Hydrological Services Agency (NIHSA) and AGRHYMET Regional Centre to host this year’s forum here in Abuja”.

Continuing, Mr Keyamo said;

“The Government of the Federal Republic of Nigeria has taken seriously the issuance of Early Warnings for its citizenry to de-risk sectoral activities and avert losses. Earlier in the year, the Government through NiMet had a public presentation of the Seasonal Climate Prediction (SCP), an early warning tool that highlights vital Weather and Climate information that may affect socio-economic activities in air, land, and water transportation, agriculture, water resources, disaster management and mitigation, health, tourism, sports, power & energy etc. A similar event was recently held by NIHSA where the Annual Flood Outlook was released to Nigerians”.

“As we settle down to listen and discuss the details of the forecast produced for West Africa and the Sahel Region for the 2024 rainy season, my message is that as we return home to our various countries with the informationand forecast from this year’s forum, we should ensure that these products don’t end up inside the shiny offices in our capital cities. The real work of downscaling them to our local and rural communities just started. This is the only way the United Nations’ target of Early Warning for All (EW4ALL) by 2027 can be met”, Mr Keyamo concluded.

In his own remarks, the Director General/Chief Executive Officer of the Nigerian Meteorological Agency (NiMet), Professor Charles Anosike, commended AGRHYMET and ACMAD for sustaining the Regional Climate Outlook since 1998. He congratulated them and the local organising committee for putting together a successful forum.

Rowland Abah who represented the World Meteorological Organisation (WMO) Representative for North, Central and West Africa, said; “The output of this workshop provides additional Early Warning information for the countries in West Africa and the Sahel to support localized forecast and effective planning to mitigate climate-related hazards envisaged in 2024”.

Concluding, Abah remarked that; “Climate change poses existential threats, and this is why the United Nations Secretary General has urged all countries to ensure that Early Warning Systems cover all citizens by the year 2027”.

The Director General of Nigeria Hydrological Services Agency (NIHSA), Clement Nze, and other representatives of other related agencies were present at the closing ceremony.

This year’s PRESASS brought together participants from 16 countries from the West African region and lasted from 22nd to 26th April, 2024.

Kwakwanso vs Aniebonam: NNPP Board Freezes Party’s Bank Accounts Nationwide

James Orji

April 29, 2024

The Board of Trustees of the New Nigeria Peoples’s Party, NNPP has directed all financial institutions including banks across the Country to stop, with immediate effect, transaction on all accounts belonging to the party.

For any transactions to be carried out with the party’s account the Original Certificate of Registration by INEC must now be presented to the scheduled officers to forestall activities of fraudsters and unauthorised persons who are illegally using the photocopies of the Certificate of Registration to operate illegal bank accounts, the party said.

The board of the party made this known Sunday in a statement shared with The Source magazine.

The party’s National Secretary, Oginni Olaposi who signed the release said the party recognized the fact that the original Certificate of Registration is the prerequisite for the opening and operations of Bank Accounts and financial transactions.

“Therefore, the Board of Trustees of NEW NIGERIA PEOPLE’S PARTY, today 26th of April ordered immediate stoppage of any banking transaction with the name NEW NIGERIA PEOPLE’S PARTY except the Original Certificate of Registration is produced and sighted by The Banks and other financial institutions,” he said.

“The Board of Trustees as part of it’s efforts to deal with fraudsters who have infiltrated the party called for the cooperation of all Commercial Banks and financial institutions in this regard as EFCC has also been duly informed of the nefarious activities of these fraudsters pretending to be NNPP’s Officers.

“Therefore the managing directors of the various financial institutions should excuse themselves from any embarrassing moment with government agents who may regard them as conspirators in financial crime. However payment into the accounts are allowed and withdrawal is restricted.”

Meanwhile, close watchers of the party insist that the development is the latest in the battle of supremacy between two factions of the party led Rabiu Kwakawanso, a former governor of Kano state and Boniface Aniebonam the founder of the party.

“My Grave Will Be By My Wife’s” – Grieving Ray Ekpu

The Source

April 29, 2024

By Gideon Njoku

Accomplished Journalist, Mr Ray Ekpu, who lost his wife last Wednesday in a highbrow Lagos Hospital, says he will prepare his own grave alongside his wife’s so that anytime he is called home by God, he will be laid to rest by the side of his beloved and devoted wife.

Not a few people had thought that Mr. Ekpu, who has lived most of his adult life in Lagos, and literally “a Lagos boy”, would bury his wife in Lagos as do a number of people.

But when the issue was broached during an informal random discussion with him, a very devastated Ekpu swiftly ressponded: “How can I? My wife is going home. She will be buried in my compound. I am preparing a final resting place for two of us. Our resting places will be by each other. So, when my time comes, I will be buried by her side.”

Mrs Uyai Ray-Ekpu, who retired from the Centre for Management Development in 2021 as an Acting Director passed Wednesday, April 21, on discharge from hospital, a few days after what had been assumed was a successful hernia surgery.

Lamenting his wife’s death, the grieving husband said it was sudden. “She was okay in the house. To make sure everything went well after her surgery, we hired a Registered Nurse who was to be paid N250,000 a month to guide her with her medications and other things until her full recovery.

“On the faithful day, I stepped out to buy diesel for our generator so, having just come back from hospital, she would feel no discomfort over the public power supply’s erratic performance.Shortly after I left the house, our first daughter, who had come visiting, called me and said ‘come quick, come quick’. I rushed back, and my wife was throwing up. We called the Surgeon who performed the surgery. And he said to take her immediately to Duchess Hospital, Ikeja. We did. They took her in immediately as an emergency case, put oxygen, everything. To my shock, within 45 minutes, one of the Doctors came to me and said ‘sorry, she has passed’.

”I was unable to digest that. I was confused. Nothing registered. And in that state, I reacted like an illiterate. I asked the Doctor, ‘What is she passed? What do you mean by she passed? I paused and asked: By that, do you mean she is dead. And he said ‘yes’. Calmly, I said okay, let me see her. And they took me to her. I saw her, and truly, my wife was dead.

“I asked my wife, so after all these years, after all we had been through together, is this what you want? Is this how you will leave me? Is this how you want to leave me. There was no response. Then, I broke down and wept like a baby.

“My wife was a good woman. A good wife. She stood by me through thick and thin. In all I passed through in my career. She stood by me. My detention and prison periods. She never wavered. She never complained. And now, she left me. Just like that, with our three children now settled in their own homes.”

Ekpu and his wife have three children, two females and one male. Two live outside Nigeria and one lives comfortably in Lagos. There are also blessed with six grandchildren.

“How I Saved Money To Pay Retirees’ Gratuities” – Uzodimma, Payment Begins Shortly

The Source

April 29, 2024

Baring any unforeseen circumstances, Governor Hope Uzodimma of Imo State will, this week, commence payment of gratuities to the retirees in the State.

The Governor is considering payment of the gratuities to the retirees from Tuesday, April 30, 2024 to coincide with this year’s Workers Day on May 1, 2024.

He gave the indication on Sunday at the Imo State Government Banquet Hall while making remarks on the sidelines of a sudden birthday lunch organised by him and his wife in honour of his Chief of Staff, Barr. Nnamdi Anyaehie.

Speaking on two major issues he said he is desirous of leaving a resounding legacy, Governor Uzodimma said It is his desire to ensure that Imo State generates her own power in line with the master plan of late Governor Sam Mbakwe, as a way to help stimulate the economy of the State.

Also, he spoke about a reformed Civil Service where the workers will be proud to put in their best while still in Service, with the hope that on retirement, they will reap the benefit of the efforts they invested working for the government by receiving their pension and gratuities promptly.

Governor Uzodimma did not only pledge to tackle both issues with zest, but proceeded to announce his readiness to commence payment of gratuities to retirees from Tuesday, April 30, 2024 when he thinks the processes for disbursement to the recipients would be ready.

It was a pronouncement that caused thunderous applause for the Governor, and interjection on his remarks by the guests, including by members of the Organised Labour in attendance who lauded him for his people-oriented programmes and policies since he assumed Office as Governor in 2020.

To further reassure the retirees of his readiness to commence payment, Governor Uzodimma said he has been saving money in a dedicated account tagged “gratuity” since 2020 when took over power, and that he has resisted every pressure on him to tamper with the account until now he is confident there is enough money in the account to start dealing with the issue of gratuity.

“I am not borrowing money to pay. I have been saving money in a dedicated account which I call gratuity, sometime N200m, at other times N100m, since 2020. I have resisted all pressure to tamper with the account and I can confidently say now that we have up to N10 billion in the account to start payment of gratuities,” Governor Uzodimma explained.

However, he said retirees who manipulated their data so as to be paid more money as gratuity when they retired, contrary to what their true record shows, will have to be paid exactly what is due to them based on the accurate government records of time for their employment and when they retired.

“We have a system that will sort all that out. So, this observation is necessary to guard against unnecessary expectations from those who retired, for instance on Grade level 10 but went and collected document or letter indicating they retired on Grade level 15,” Governor Uzodimma noted.

He thanked the leadership of the Organised Labour in Imo State for their understanding of the plight of the government as regards sincerity of purpose on issues of the workers and their welfare and promised not to disappoint their expectations.

Governor Uzodimma who said the birthday lunch in honour of Anyaehie was like a “coup” himself and the Her Excellency plotted, used the opportunity to wish his Chief of Staff well and to thank Imo people for their support always.

Earlier, Anyaehie who described Governor Uzodimma as his father and mentor said in his 61- years, this was the first time he was ‘cutting a birthday cake in public.”

Dignitaries who graced the occasion included the wife of the Governor, Barr. (Mrs) Chioma Uzodimma, former Governor of Imo State, Chief Ikedi Ohakim, members of the Imo State House of Assembly, members of the Imo State expanded Executive Council, the Chairman of Imo State Council of Traditional rulers, HRH Eze EC Okeke, among others.

Rivers Fire: Tinubu Promises ‘Stricter’ Measures For Transportation of Petroleum Products

James Orji

April 28, 2024

President Bola Ahmed Tinubu has sent his heartfelt condolence to the families of those that lost their lives in the fire explosion that took place in Rivers’ state on Friday.

The magazine reports the oil tanker fire incident that engulfed the Eleme section of the East-West Expressway which left some residents, including a pregnant woman dead, apart from the charred vehicles that were left in its wake.

Apart from his other to federal emergency agencies to provide support for the state government, President Tinubu said steps will be taken to ensure that such incident was prevented in the future.

According to a statement signed by Ajuri Ngelale, the President’s Special Adviser on Media and Publicity Tinubu promised “stricter safety regulations for the transportation of petroleum products,” to prevent similar accident in the future.

The statement said: “President Bola Tinubu extends his heartfelt condolences to the families of the victims of the fire incident caused by an articulated vehicle conveying petroleum product at the Eleme section of the East-West Road in Port Harcourt, Rivers State.

“Commiserating with the government and people of Rivers State on this tragedy, which resulted in the loss of precious lives and property, President Tinubu prays for the speedy recovery of those injured in the incident.

“The President directs federal agencies in the state to continue liaising with the state government to provide the much-needed immediate support to all victims of the incident.

“The President commends the first responders in Rivers state for their bravery and dedication in assisting those affected by the accident, and expresses confidence that stricter safety regulations for the transportation of petroleum products will be implemented to prevent such tragedies in the future.”

Edo: Oba Ewuare Clamps Down On ‘Ooni’s Subjects’ In His Kingdom

James Orji

April 28, 2024

Oba Ewuare II, the traditional ruler of the Benin Kingdom has suspended some chiefs for calling themselves the subjects of the Ooni of Ife.

The monarch, in an announcement, released on Sunday by the Benin Traditional Council, BTC, described the action of the chiefs as sacrilegious.

The statement was signed by the Iyase (Prime Minister) of Benin Kingdom, Shief Sam Igbe.

The chiefs had visited the Ife traditional ruler, according to viral video where they gave an “inaccurate” account of the relationship between the two ancient kingdoms, the BTC said.

According to the BTC the chiefs are S.E. Aigbiremwen, Johnbull Igbinosun, Iduhonre (Ihogbe), Efesieoghoba (Ogbelaka) and two other Ogbelaka functionaries identified as Ogbeide Osagie and Osamudiame Edo.

The announcement: “The attention of the Benin Traditional Council (BTC) has been drawn to video clips circulating on social media in which a group of self-serving traditional functionaries from Benin engaged themselves in a sacrilegious show of shame and falsehood against the Benin Custom.

“In the said clip, the individuals who have been identified as Johnbull Igbinosun, Iduhonre (Ihogbe), S.E. Aigbiremwen, Efesieoghoba (Ogbelaka) and two other Ogbelaka functionaries identified as Ogbeide Osagie and Osamudiame Edo were in the presence of the Ooni of Ife, falsely claiming to be emissaries of the Omo N’ObaN’ Edo Uku Akpolokpolo, His Royal Majesty Oba Ewuare II, Oba of Benin.

“These individuals not only declared themselves subjects of the Ooni, but also rendered inaccurate and disjointed account of the connection between the Benin Royal Dynasty and the Ooni-ship of Ife.

“While the BTC does not wish to be drawn to restating the well-known connection between the two thrones of the Oba of Benin and the Ooni of Ife, the general public is urged to disregard the inaccurate accounts rendered by the ill-bred individuals named above.

“For the avoidance of any doubt whatsoever, the BTC advise the general public to avail themselves of the official account of the connection between the two ancient monarchies as contained in the authoritative book titled “I Remain, Sir, Your Obedient Servant” authored by His Royal Majesty, Oba Erediauwa, Oba of Benin (1979 — 2016), published by Spectrum Books/Safari Books, 2004 at pages 205-212.

“The BTC considers the conduct of these functionaries as inappropriate, sacrilegious and calculated to ridicule traditional history, and to bring disrepute to Benin custom.

“Consequently, on the authority of the Omo N’Oba N’Edo Uku Akpolokpolo, His Royal Majesty Oba Ewuare Il, Oba of Benin the Prescribed Authority over Benin Custom, the BTC hereby announce the suspension of the individuals mentioned above from their role as Benin traditional functionaries.

“The general public is advised to refrain from having anything to do with them as traditional functionaries in Benin kingdom throughout their suspension.”

Rivalry has marred the relationship between the two prominent traditional rulers for years despite their strong historical connections to Oduduwa, the progenitor of the Yoruba.

Naira: Senate Calls For Proactive Efforts To Stop Depreciation

James Orji

April 28, 2024

The continuous depreciation in the value of the naira has elicited the reactions of the Nigerian Senate.

The nation’s upper chamber of the National Assembly has now called for deliberate efforts on the part of relevant stakeholders to stem the tide.

The Senate reaction comes on the heels of fall in the exchange rate of the naira to the dollar in the last two weeks, after it recorded a sustained gain against the American currency in April.

According to checks, the official exchange rate of the dollar at the close of business last Friday was N1,300. The currency had recorded yet its biggest gain against the dollar last month after it was exchange for less than N1000 to the American green back at the parallel market.

The development, the Senate Committee chairman on Finance Sani Musa, said is worrisome despite the efforts of the federal government to strengthen the currency.

The senate, in a statement on Sunday said all hand must be on deck to stop naira from further depreciating, stressing that it will work with relevant stakeholders to achieve this.

“The recent depreciation of the naira underscores the need for proactive measures to safeguard the stability and resilience of our currency,” Sani said.

“The Nigerian economy is facing significant challenges, exacerbated by both internal and external factors.

“Despite efforts to stabilise and bolster economic growth, the numerous initiatives and bold but necessary steps and policy decisions taken by President Bola Tinubu, the persistent depreciation of the Naira against major foreign currencies has become a pressing concern.”

“The recent depreciation of the naira underscores the need for proactive measures to safeguard the stability and resilience of our currency.

“This includes robust oversight of fiscal policies, engagement with key stakeholders, and the formulation of targeted interventions to support key sectors of the economy.

“It is also the hope of the committee that our economic managers will adhere strictly to the norms and standards set by this administration to ensure that we achieve the desired outcomes in taking Nigeria to its economic growth and prosperity,” he said.

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