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CBN Approves Merger Of Two Banks

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Yemi Cardoso - CBN Governor

By Ayodele Oni

In an apparent bid to escape liquidation axe being dangled by the Central Bank of Nigeria, (CBN) on financial institutions in the country, two banks have agreed to merge.

Details of the merging agreement are still sketchy but the CBN on Tuesday confirmed the approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and the Providus Bank Limited.

The apex bank, in a statement by its acting Director of Corporate Communications, Hakama Sidi-Ali, said the move is designed to bolster the stability of the nation’s financial system and avert potential systemic risks.

“The merger is contingent upon the financial support from the CBN. The fund will be instrumental in addressing Unity Bank’s total obligations to the Central Bank and other stakeholders.

“It is unequivocal to state that the CBN’s action is under the provisions of Section 42 (2) of the CBN Act, 2007. This arrangement is crucial for the financial health and operational stability of the post-merger organisation.

“It is important to emphasise that no Nigerian bank currently faces a precarious situation comparable to that of Heritage Bank, which was recently liquidated.”

The CBN assured that it remains committed to safeguarding depositors’ interests and ensuring the smooth functioning of the banking sector through proactive measures and strategic interventions.

Truce, As Senator Ndume Meets APC Leadership, Admits Mistake Resolves Disagreement

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Senator Ali Ndume Meets APC Leadership

By Ayodele Oni

The Senator representing Borno South, Ali Ndume has finally met the leadership of the rulling All Progressives Congress (APC), over his recent utterances against President Bola Tinubu and his removal as Senate Chief Whip.

Ndume, reportedly apologized for his utterances which he said were not supposed to have been made public.

Ndume was removed as Chief Whip of the senate after he accused President Bola Tinubu not been accessible.

He was thereafter given the Chairmanship of the Tourism  Committee, which he rejected, as well as the office allocated to him.

The Senator was summoned by the National Working Committee, (NWC) of the APC led by the National Chairman Dr Abdullahi Ganduje, to explain his recent utterances against the President.

Briefing newsmen after the closed door meeting, Senator Ndume stated that he has accepted the mistake of not talking to the party as a last point.

He conceded that rather than raising some issues on national television, he should have complained through the party leadership.

With what has happened which you are all aware, it is not surprising that I was invited to hear my own side and we had family discussions and I actually accepted the mistake of not talking to the party as a last point.

“I promised the party that all my observations as a senior member of the family should have terminated or ended with the party.

“That is something that moving forward, I will do, but whatever I said or whatever I did was out of patriotism and those issues maybe said strongly, but they are true but then I should have talked to the party as the last bus stop.

“My membership, I have not been expelled, even the party did not say we don’t want you here, because he is my father, the party is my father, the only thing the party said is that look if you don’t want this house you can go to any house. Where will I go? This is my house.”

The National Chairman of the APC Dr Ganduje, said the party is satisfied with Ndume’s apology and would convey same to the leadership of the Senate with a view to having it review its position.

Organizers Suspend Nationwide Protest In Osun, Citing Annual Traditional Festival

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EndBadGovernance Protest

By Ayodele Oni

Organizers of the ongoing nationwide Protests in Osun state have agreed to suspend their action.

They adduced the action to an earlier meeting with the state government during which their demands were presented to the deputy governor of the state, Kola Adewusi, who received them.

It was however gathered that the suspension might not be unconnected with the 2024 edition of the Osun Osogbo Festival which normally attracts tourists coming from different part of Nigeria and around the world.

Statement by the Coalition of Concerned Nigerian Citizens: EndBadGovernance reads in parts:

“We the Coalition of Concerned Nigerian Citizens, the organizing body of the EndBadGovernance protest in Osun State, wish to address the public and the media regarding the ongoing Protest, which began on the 1st of August 2024 and marks its 6th day today.

“Since the inception of this peaceful protest, we have made our demands clear, seeking immediate action from our leaders to address the pressing issues affecting the citizens of our beloved state and country.

“We acknowledge the recent address by the President of Nigeria; however, we express our profound disappointment as the President speech failed to address any of our specific demands.

“Despite this setback, today we successfully presented our demands to the Governor of Osun State through the deputy governor and Secretary to the State Government, who told us that the Governor will forward our demands to the federal Executive Council.

“Furthermore, we reviewed the security situation vis-a- vis the Osun Osogbo festival presently ongoing at Osogbo.

“It is worthy of note to establish that Protest is incidentally taking place in Osogbo which is of concern.

“Considering the safety of the influx of tourists coming for the global Osun osogbo festival and the possibility of hoodlums disguising as tourist and unleashing attacks on peaceful protesters amidst other security concerns, we consider it imperative to put the protest on hold today 6th August, 2024.

“While we salute the courage of peaceful protesters, we urge concerned citizens to remain resolute on our demands and continue to ventilate the same while planning for the next stage of the struggle should incase the demands are not meant .

“We urge the government to act promptly and decisively on the issues we have raised.

“The Coalition will remain vigilant and committed to ensuring that our demands are met while we call on all participants and supporters to stay united and await further updates on the progress of our engagement with the government.

“We thank the people of Osun State and all Nigerians for their unwavering support and commitments to the cause of justice and good governance.

“Let us continue to advocate for a better Nigeria with peace and dignity.”

After A Decade+ Anambra Set To Conduct Local Government Polls

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Charles Soludo - Governor of Anambra State
Charles Soludo - Governor of Anambra State

By Suleiman Anyalewechi

Over ten years after it held elections into Local Council Offices ,the Anambra State Government on Tuesday inched closer to holding another polls with the inauguration of the State Independent Electoral Commission, ANSIEC.

The Source reports that the State Electoral Umpire has been in limbo since it conducted the last known and acknowledged Council Elections between 2014 and 2015.

The Supreme Court had, on Thursday June 20 2024, ruled to affirm the financial independence of the Third Tier of Government.

It also declared unconstitutional the running of Local Governments with appointed officials.

The Apex Court in the land had directed the withholding of funds of Local Councils under the administration of Caretaker officials among others.

Speaking in the wake of the landmark judgment, Governor Chukwuma Soludo, at the Presidential Villa, welcomed the ruling, and insisted that it well assist in enthroning a regime of accountability and transparency in the running of council affairs .

The Governor, also, expressed optimism that it will fast-track growth and development at the grassroots level.

He assured that plans were on top gear to reconstitute the State Electoral Commission as a prelude to conducting Council Polls ,after the last exercise in 2014.

Prof. Soludo informed that one of the cardinal promises he made during electioneering campaigns was the conduct of a free and fair Local Government Election, noting that he is determined to fulfill it.

The six-member ANSIEC is to be headed by  Genevieve Osakwe ,a Magistrate.

At the inauguration in Awka, the State capital, Governor Soludo enjoined the members to discharge their duties creditably.

He noted that the people of the State are not expecting anything short of dedicated and sincere services from the Commission members.

According to Prof Soludo, the core mandate of the Commission include organizing, undertaking, and supervising all elections and matters relating to elections into Local Government offices in the State.

The Commission’s responsibilities under the 2024 Anambra State Electoral Law, Soludo further stated also involve the delineation of Wards and Constituencies as explicitly prescribed by the law for the purpose of conducting Elections.

Other members of the electoral body are Osita Igbokwe, John Okeke, Chinedu Nnalue, Helen Umeh and Bernadine Obande.

The Commission is expected to conduct  Local polls in the State before the end of . September, 2024.

New Minimum Wage: Ondo, Nasarawa Assure Workers Of Payment

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Governor Abdullahi Sule of Nasarawa

By Ayodele Oni

Ondo and Nasarawa gave joined other states which are set to commence payment of the new minimum wage of N70,000.

The minimum wage bill was signed into law few days ago after passage by the National Assembly.

Governor Abdullahi Sule of Nasarawa said he is more than ready to pay N70,000 minimum wage to civil servants in the state.

The Senior Special Assistant to governor Sule on public affairs, Peter Ahemba disclosed this at a media chat with the correspondent’s chapel.

Ahemba stated that the governor had already approved the payment of the new minimum wage which is set to commence any moment soon.

“Governor Abdullahi Sule is more than ready to pay the ₦70,000 minimum wage passed into law and accented to by the President Bola Ahmed Tinubu. His excellency Engineer Sule is committed to Workers welfare and the entire development of the state.

“The government of Abdullahi Sule is aware of the current hardship everyone is going through and he is taking steps to address the current hardship through profitable youths engagement and entrepreneurship training as parts of his agenda of industrialisation.

On it’s part, Ondo state government declared its readiness to implement the N70,000 minimum wage approved by President Bola Tinubu for workers in the state.

The State Head of Service(HoS), Mr Bayo Philip, disclosed this on Tuesday while fielding questions from journalists  in Akure.

According to him, Governor Lucky Aiyedatiwa has repeatedly given the assurance at several fora that his government will not do anything less than whatever is approved by the federal government as the national minimum wage for workers.

Reiterating the commitment of Aiyedatiwa to the welfare of the state workforce, Philip recalled that apart from Ondo State being the first to pay the N35,000 wage award to its workers, the state was also one of the few states that paid beyond the six months earlier stipulated and would continue to pay till the new minimum wage fully kicks off.

He added that the government also extended the gesture to retirees and workers in state-owned tertiary institutions as a way of ameliorating the current economic situation in the country.

“Before the bill was assented to by the President, the Governor had given his words that Ondo State will pay whatever minimum wage as may be agreed upon and assented to by Mr President.

“And as I speak, we are doing all the preliminaries that as soon as the details of the salary table for the minimum wage is out, we will look at it, and I know, true to his promise, will implement it without delay.”

Ogun Announces Date For LG Poll

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Dapo Abiodun
Governor Dapo Abiodun

By Ayodele Oni

Ogun State Independent Electoral Commission (OGSIEC) has announced a date for the conduct of local government election.

The commission announced on Tuesday that forthcoming local government election in Ogun State has been fixed for Saturday, November 16 2024.

The Chairman of the Electoral Commission, Mr Babatunde Osibodu, disclosed this in a statement signed by him and made available to journalists in Abeokuta on Tuesday.

Osibodu, according to the statement, said, “Thursday, August 8, 2024, is scheduled for the release of guidelines for the conduct of the elections and stakeholders meeting while campaigns by the political parties begin on Friday, August 9.

The political parties are also scheduled to hold their party primaries between Monday, August 26 to Monday, September 9, 2024.”

The Special Adviser on Media and Strategy to the Governor, Mr Kayode Akinmade, had last month described as fake news a statement circulating on social media announcing that the next local government elections in the state will be held on October 26.

The elected local government officials completed their tenure about a week ago.

Kano Mobile Court Orders Detention Of Suspects Arrested During Protest

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Protesters in Kano

By Ayodele Oni

Not less than 632 persons arrested in Kano for allegedly vandalizing public properties during the nationwide Protests are to remain in prison custody till August 19.

They were arraigned before a mobile court in Kano on Tuesday  for alleged vandalism of public and government properties during the #EndBadGovernance nationwide protest.

According to the News Agency of Nigeria, (NAN), the defendants are charged with criminal conspiracy, theft, unlawful assembly, inciting disturbance, trespass and mischief by fire.

The mobile court held its sitting within the premises of the state police command.

The court was presided over by three senior judicial officers, including senior magistrate Ibrahim Mansur-Yola, senior magistrate Hadiza Rabiu-Bello, and chief magistrate Abba Muttaka-Dandago.

The court adjourned sitting until August 19 for a hearing.

Earlier, the state director of public prosecution (DPP), Salisu Tahir, informed the court that the defendants committed the alleged offences on August 1.

He alleged that on the same date the defendants, during the #EndBadGovernance nationwide protest, trespassed and vandalised government and public properties in Kano.

“The defendants broke into people’s shops and looted their goods,” the DPP told the court.

The prosecutor said the offences contravened the provision of sections 97, 287, 229, 336, 349 and 247 of the Penal Code.

While some defendants pleaded guilty, others pleaded not guilty to the charge.

Speaking to journalists after the court sitting, Kano’s attorney general, Haruna Isa-Dederi, said the government constituted three mobile courts to prosecute the defendants.

Mr Isa-Dederi said, “I pleaded with the Kano state chief judge to allow the constitution of three Special Courts within the premises of the state police command because of the number of defendants involved.”

Mr Isa-Dederi noted that the case diary would be studied, and the ministry of justice would give appropriate advice before the next adjourned date.

Fmr Kogi Gov Yahaya Bello Distances Self From Nationwide Protest

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Yahaya Bello

By Ayodele Oni

The embattled, fugitive of the law, and mediate past Governor of Kogi state, Yahaya Bello, has, from his hideout, cried out over plan to link him with sponsorship of the ongoing nationwide Protests.

A statement from his media office, signed by Ohiare Michael explained that reaction to the allegation became necessary due to the implication of the current protest as regards the national security.

“We have uncovered a high-wired plan by some disgruntled enemies of the nation and persons on the Project Bring Down Yahaya Bello, to frame him up as one of the sponsors of the #EndBadGovernance protests across the country.

“It is pertinent to respond to the tirades of falsehood because it borders on national security. Our resolve is further strengthened by the condemnable act of some protesters displaying the flags of other nations.

“Yahaya Bello is a patriot who had devoted his time, resources and energy to building a united and prosperous Nigeria.

“It was Yahaya Bello who acted swiftly to resolve a major problem between the North and the South, which would have caused a major crisis in Nigeria.

“What threatened our fragile unity was resolved amicably on the negotiation table provided by Alh. Yahaya Bello when he mediated between the Northern food transporters and their Southern counterparts and brought them together as food exchange between the two regions was threatened.

“That move earned so much commendations by leaders of the country at that time.

“In the build up to the 2023 Presidential Poll, a number of impediments and political cum economic landmines were laid on the road, including the Naira Redesign Policy.

“It was the same Yahaya Bello with some of his colleagues then that dared the system and secured the judgement that set that aside at the Supreme Court. It was a landmark intervention at a time that the nation was almost collapsing.

“In the Presidential Poll, Alh. Yahaya Bello mobilized Kogites massively to deliver victory for President Bola Ahmed Tinubu, GCFR.

“Can the masterminds of his persecution show the world the results in their state? He also mobilized the youth of the nation as the Youth Mobilization Committee Chairman because of his faith in the leadership capacity of Mr President.

“Former Governor Yahaya Bello is a patriot and democrat par excellence who will never do anything to upset Nigeria’s democratic status.

“More importantly, His Excellency Yahaya Bello invested his considerable energy, time and resources in supporting the current administration of President Bola Ahmed Tinubu to whom he has remained loyal and committed to this day.

“We call on the Police, Department of State Services, and other relevant agencies to investigate the claims. This is a matter of national security, which must not be taken lightly.”

“Get Out From Villa High Gates, Go To Protest Grounds, Listen To Protesters, Talk Directly To Them” – Ezekwesili Tells Tinubu

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Obiageli Ezekwesili

By Akinwale Kasali

To stem the current violent protests by many Nigerians against hunger, hardship, and bad governance under the Government of President Bola Tinubu, a former Minister for Education under the Government of  former President Olusegun Obasanjo, Mrs Obiageli Ezekwesili, has asked the President to step out of the high walls of the Presidential Villa, meet the Protesters at their protest grounds and speak with them.

Ezekwesisli urged the President and the 36 State Governors of the Federation to up the ante in order to bring to an end  the ongoing hunger and bad governance nationwide.

The protest which began on August 1, 2024, has led to loss of lives and destruction of properties in some part of the country. It has also taken a ridiculous but ominous signs with some Protesters in the North, particularly in Kano and Kaduna, waving the Russian National Flag, and calling on the Nigerian Military to sack President Tinubu’s Government.

Both Tinubu and the Military have described both action and utterance as treasonable. The President has also ordered the arrest of those flaunting the Russian Flag. The Russian Embassy in Nigeria has distanced its Country from the bizarre action.

And, after an assessment of the situation,  Ezekwesili said it is unwise for President Tinubu and the 36 state Governors to threaten, taunt, brutalise and shut up protesters demanding an end to bad governance and hunger in the country. She  stressed that they have the right to protest and demand for good governance.

In a post on her X handle, the former Minister said Tinubu, governors, and other political leaders still have a slim window of opportunity to swiftly do the right things for their citizens. She asked them to end bad governance in Nigeria as the protest enters Day Six.

According to Ezekwesili, to take Nigeria and its citizens out of the unfortunate predicament the country found itself in, Tinubu and State Governors must be ready to listen to the protesters, engage them and persuade them with factual counterpoints.

She wrote, “Let me reiterate a possible Pathway for @NigeriaGov @officialABAT to take Nigeria and Nigerians out of the unfortunate quagmire the country finds itself:

“When Citizens tell their Leaders that they are hungry and angry due to #BadGovernanceInNigeria, the unwise thing to do was the orchestrated efforts of @NigeriaGov to shut them up, threaten, taunt, brutalize them and generally act detached from their suffering.

“Such triggering display of empathy deficit has obviously strengthened the resolve of the Protesters to continue into Day5 of their Protests as we can now all see.

“The @NigeriaGov @NGRPresident @officialABAT @nassnigeria @NGRSenate @HouseNGR and Governors of State and their State Assemblies still have a slim window of opportunity on this Day 5 of the nationwide protests to swiftly do the right things by their Citizens who are asking them to #EndBadGovernanceInNigeria:

“Go out NOW to their Protest Grounds across the Country and ENGAGE your Citizens. Hear them express their Demands to you directly. Do not lock yourselves away behind the High Gates of your publicly-funded State and Government houses enjoying indulgent lives while your Citizens are out there crying out in pain from the severity of economic hardship induced hunger and anger.

“The @NigeriaGov @NGRPresident @nassnigeria and Governors of State and their State Assemblies, go out NOW and start connecting with your Citizens:

“Listen. Listen. Listen”

President Tinubu, on Sunday, addressed  Nigerians in a Nationwide broadcast. But that has not stemmed the protest. Instead, a couple of States in the North witnessed more violent protests than before, forcing their State Governments to declare 24-hour curfew.

“Obasanjo Faults Tinubu’s Abrupt Removal Of Oil Subsidy, Reveals Why Shell Rejected Offer To Run Nigeria’s Refineries

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Olusegun Obasanjo and Bola Tinubu

By Akinwale Kafsali

Former President Olusegun Obasanjo has faulted President Bola Tinubu’s removal of oil subsidy without adequate preparations. Obasanjo, also, revealed that Shell Petroleum rejected his offer, when he was President, to buy a stake in Nigeria’s refineries and run them.

The former President also, after an analysis of the debacle between Africa’s Richest Man, Aliko Dangote, and the Nigerian National Petroleum Corporation Limited, NNPCL, on the Dangote Refinery alleged that there is a plot to frustrate the money man.

Obasanjo put that plot at the door steps of those he identified as “cabals in the cabinet of President Bola Tinubu”. He said they are bent on frustrating Dangote’s refinery.

The former President expressed concerns that those currently profiting from Nigeria’s profitable fuel importation sector may seek to undermine the Dangote Petroleum Refinery.

It would be recalled that Dangote had accused certain ‘mafias’ of attempting to sabotage his $20 billion refinery project.

Obasanjo in an interview with the Financial Times said that if the refinery succeeds, it could boost investment from both Nigerians and foreigners.

His words: “Aliko’s investment in a refinery, if it goes well, should encourage both Nigerians and non-Nigerians to invest in Nigeria.

“If those who are selling or supplying refined products for Nigeria feel that they will lose the lucrative opportunity, they will also make every effort to get him frustrated.”

Recently, officials of the Dangote Group cried out that international oil companies are hampering the refinery by either refusing to sell crude or charging up to $4 above the standard price.

They also accused the Nigerian Midstream and Downstream Regulatory Authority of intentionally issuing licenses to individuals to import fuel.

The regulator denied this, saying Dangote diesel was inferior, when compared to imported ones.

The NMDPRA Chief Executive, Farouk Ahmed, also stated that the country would not stop fuel importation to avoid a monopoly by the Dangote Group.

But Obasanjo remarked that Nigeria made a critical error by focusing solely on oil, neglecting opportunities in gas and agriculture.

“I believe we made a very, very deadly mistake. We put all our eggs in one basket of oil. We even ignored gas. We were flaring gas, which is a very important commodity

“We ignored agriculture, which should have been the centrepiece of our economic development,” Obasanjo stated.

He recalled attempting to persuade Shell to operate Nigeria’s refineries, but the company refused, citing excessive corruption in the sector.

“When I was President, I invited shell to come and take equity and run our refineries for us. They refused and said our refineries were not well maintained. We brought amateurs instead of professionals. Then there was too much corruption with the way our refineries were maintained. They didn’t want to get involved in such a mess,’’ he said.

Obasanjo further criticized the Government’s approach to revitalizing the refineries, saying: t

“How many times have they told us that the refineries would be fixed, and at what price? Those problems, as far as the government refineries are concerned have never gone. They have even increased. And if you have such problems, and the problems have not been removed, then, it means we are not going anywhere.”

He also faulted President Bola Tinubu’s approach to removing fuel subsidies, arguing that the administration should have first considered the potential hardships and ways to alleviate them.

“There’s a lot of work that needs to be done. Not just wake up one morning and say you removed the subsidy. Because of inflation, the subsidy that we have removed is not gone. It has come back,” Obasanjo stressed