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Rivers 2027: Wike To Back Chinda Against Governor Fubara

March 26, 2024

By Charles Igbo

Over three years to the Governorship Election in Rivers State, the Governor of Rivers State, Siminalayi Fubara, already knows who his main competitor will be unless he is not interrogating the utterances of his predecessor, Nyesom Wike.

Baring any last minute changes, Fubara will face stiff competition from a very strong competitor, Honourable Kingsley Chinda, popular among his circle of friends as O.K.

When, and not if, that happens, Chinda is going to be backed, fully, by the political emperor of the State, Wike.

As far as Wike, now the Minister of the Federal Capital Territory, FCT, is concerned, Fubara is already a one-term Governor. He has not hidden that since he fell out with the Governor who he, incidentally, installed in office. He has since regretted installing Fubara as Governor, a fact he hammered upon over the weekend in Porthacourt.

Wike made that point at a Special Thanksgiving Service by Chinda to mark his birthday, and celebrate his new status as the Minority Leader of the House of Representatives.

Addressing his loyalists at the occasion, he expressed regrets for picking Fubara over Chinda. But for the pressure, Minister Wike said, Chinda would have been his successor. In addition to the pressure, Wike also said Fubara deceived him by his attitude and demeanor which, he said, completely changed soon after he became the Governor.

Wike: “Pressure came on me at a time when we wanted someone who would succeed me. One of the very best I would have presented would have been Kingsley Chinda not those Ikwerre people who were running around saying they wanted to be Governor, that they could not serve a master and boy. But they are waiting on the road now to serve the boy.

“No real Ikwerre man says that and goes back. Chinda had told you not to bother yourself. In Ikwerre tradition, when you start beating the drum of wrestling, it is not at that time that the real wrestlers will come out.

“The real wrestlers will come in later towards the end. Leave all these people who cannot stand ordinary hunger. Leave these political harlots. I will continue to defeat them. What you know, you know.”

Even though Wike still says he is still of the Peoples Democratic Party, PDP, but serving under an All Progressives Congress, APC Government, he has since declared himself the Leader of both the APC and PDP in the State. This means that he is likely to produce a single candidate who will be supported by both Political Parties.

Sanusi Replies Critics Over Akingbola’s Intercontinental Bank, Says: “No Regrets, CBN Right On Term Limit For Bank Leadership”

The Source

March 26, 2024

“I think we must remember that everything boils down to context. And we should not naively believe the claims of some people that they are the “owners” of banks- especially the listed ones.

“In almost all the banks that we took over, we discovered that these so- called owner managers set up SPVs, lent money to these SPVs, turned round and purchased their own bank shares with these funds -and that was how they acquired control. In blunt terms: they STOLE money belonging to depositors to buy the shares.

“When the stock market tanked and the bubble capital burst it was those deposits that were entrusted to them which evaporated and we had to redeem.

“To give one example, when we went into Intercontinental Bank, the bank owned 25% of its own capital through these fraudulent schemes. Akingbola did not buy his shares in Intercontinental with his own money- he stole deposits to fund his control. He ran to the UK and we followed him with the evidence. We established before the crown court what he did and the amount involved was in excess of N140b for which the court gave a worldwide freezing order. On the basis of the same evidence in Nigeria it took 11 years but Akingbola was finally jailed.

“He (Akingbola) was not the only one. Cecilia Ibru was jailed. Nwosu was jailed. Atuche was jailed. All this happened before us and people are criticising the regulator and moralising on behalf of those who OWN banks? How? With stolen money?

“One of Akingbola’s executive directors joined the bank as an officer and was his PA. Akingbola was MD of his bank for 22 years or so. All his so called EXCO were his “boys”. Ibru appointed her son ED corporate. He would approve loans for their SPVs and she would send the money to her daughter in Dubai to buy property. For 3 years Ibru’s daughter won gold medals in Dubai for being an estate dealer. She was buying the real estate with depositors funds. We recovered assets then estimated at $1.2b at cost from Ibru alone- including over 200 pieces of real estate in the UAE, including property on the Potomac, in Abuja, Lagos and Portharcourt and private jets. All with depositors money.

“These CEOs had stayed so long no one could call them to order. Not their boards, not risk management, not audit, not Legal. In one case the Board of Oceanic was bold enough to decline a loan recommended by Ibru. After the Board declined it she came to her office and approved it and it was disbursed.

“If staying so long makes some CEOs that powerful and if that power was seen to corrupt why would we allow CEOs to overstay? If all banks were run like Citi or StanChart or IBTC this matter would not have arisen but we cant run a system based on miraculous exceptions. And is ten years not enough in a CEO position? Is there no benefit to something called succession? Is there nothing like key man risk?

“Banks are not a business. Dangote group and Exxon mobil are. Banking is a profession. Banks are professionals guided by ethics. A bank is where you keep your money and expect to find it. If your banker can keep your money safe and make profit by trading it that is what we want. If he starts to make it his own he has to be reminded it is not his.

“If these people are so smart they should go run a cement plant or build a refinery or a commercial enterprise. Anyone can make billions stealing money entrusted to them it is not intelligence. Just plain thievery. And this is why every chance they get they just steal and buy property and private jets and yachts. It is not capitalism but prebendalism.

“The arrogance begins when these bankers who own a tiny percentage of the total capital at the bank’s disposal think they own the bank. They do not. And the Central Bank is not there to protect the rich and powerful shareholders and management but the poor and vulnerable depositors who trusted us and kept their savings in these institutions. Some people just dont get it.

“With the CBN the depositor is King. It is hypocritical after everything we know to pretend that these criminals are bank owners. They never were. And to make the system safe we have to learn lessons and not wait for the next Akingbola or Atuche or Ibru to happen on us.

“It may well be that someone else sitting in that office with all this information may have ideological sympathies for shareholders and management and believe I had gone overboard in protecting depositors.

“My comment is that such a one should be at the stock exchange and not the central bank. Term limits are among the policies I am most proud of and yes- we demystified all the minigods and oligarchs. But none of them was a target.

“The only target was to protect depositors and keep our banks safe.

“I am publishing my CBN memoirs next year inshaallah. The title is ” Confronting vested interests: Central banking in a rentier economy”. The title says it all.” -SLS

Fmr Ekiti Gov Fayemi In A Storm Over Attack On Afe Babalola

Ayodele Oni

March 26, 2024

By Ayodele Oni

Former Governor of Ekiti State, Kayode Fayemi, has been dragged to the mud over his attack on elder statesman and founder, Afe Babalola University, Ado Ekiti, (ABUAD) Chief Afe Babalola.

Dr Fayemi had said that Chief Babalola was may be suffering from loss of memory due to age, following his condemnation of regimes of past Governors in the State.

A State-based group, Ekiti Patriotic Consultative Forum, in a statement signed by Secretary, Oluwagbenga Babawibe, described Fayemi’s comment as “uncouth and disrespectful.”

He said: “After a cursory look at the hogwash and senseless vituperation of the former Governor of Ekiti State, a supposedly Omoluabi, we came to the safe conclusion that the Isan Ekiti-born politician decided to descend on this iconic elder statesman, a man who still contributes immensely to the growth of Nigeria at 94 years old and who still invests at least 18 hours of active work daily in the development of education and industrialization in Nigeria.

“It should be noted that Chief Afe Babalola did not single out Kayode Fayemi in his review of the performance of the past government in Ekiti State as claimed.

“He intentionally vented his frustration and hatred on the Baba, which is very uncharitable and an act of irresponsibility for a man who ruled the cultured people of Ekiti twice.

“It should be known that during the COVID-19 pandemic, his government made Baba the chairman of the palliative committee, whereby Chief Afe Babalola donated a whopping sum of one hundred million naira, eight hundred bags of rice, and one thousand bags of garri for the state. What other support does this guy want again?

“The contradictory allegations raised by Fayemi over the issue of the airport, a failed project embarked on by him and an uncompleted project that was commissioned with fun fare.

“The truth is that Fayemi approached Chief Afe Baalola to build the terminal section of the airport, and Baba agreed to do so and had taken steps by constructing the architectural design of the terminal, which was fashioned against the best in the world.

“Without further consultation, Fayemi rejected the earlier agreed terminal to be built by Aare Afe Babalola and wrote a letter to him to build a guest house or hotel for the airport project.

“After messing up with the airport project, Chief Afe Babalola, who is interested in the completion of the airport because of its economic viability to the university and Ekiti State at large, has spent over 2.3 billion Naira of his personal resources for the purchase of instrument and landing equipment, an aerodrome ground lighting system, and the building of a befitting car park for the airport.

“There is no single individual with such a contribution toward the development of Ekiti state. There is no private investment that is as big as ABUAD in Ekiti, yet the government has not done anything to support this investment.

“As a group of patriots in Ekiti State, we hereby demand from Kayode Fayemi a public apology to be published in three major national newspapers and a one-on-one apology in which he must personally mobilize some respected traditional rulers in the state in the company of the state governor for that purpose.”

Edo PDP Chairman Regains Freedom, Reunites With Family

Ayodele Oni

March 26, 2024

By Ayodele Oni

After 11 days in kidnappers’ den, Edo State Chairman of the People’s Democratic Party (PDP), Dr. Tony Aziegbemi, has been released.

Dr. Aziegbemi, who was set free by his abductors in the early hours of Tuesday, arrived his Benin City residence at about 3.00 am to the waiting arms of family and close friends.

Speaking on his mobile phone, the PDP Chairman said that he was happy to be back home with his family.

Sounding upbeat, he said : “I am back home with my family. I am fine. I am just trying to rest and will talk to you later.”

Dr. Aziegbemi, a former member of the House of Representatives, Esan North East/Esan South East, was trailed by his abductors in two Toyota Corolla cars on the night of Friday, March 16.

The gunmen overtook his sports utility vehicle at a speed break as it slowed down close to his house at about 11.00p.m that fateful Friday.

Aziegbemi who is said not to have police protection was on his way home after a meeting in Government House when he was abducted by the gunmen who trailed him.

The gunmen were said to have abandoned the Russian trained economist’s car along Sapele road and took him away in their get away cars.

The circumstances surrounding his release were still sketchy as the Edo State Police spokesman, Mr. Chidi Nwanbuzor, who spoke on his mobile phone, simply advised journalists to wait for an official police statement.

“Wait for the official police statement,” Nwanbuzor, a superintendent of police advised.

It was however not immediately clear if a ransom was paid for his release as the abductors had reportedly demanded a princely sum of N50 million before setting him free.

Few Days After Raising Alarm Over Threat To Life, Ondo APC Governorship Aspirant, Akintelure Dies

Ayodele Oni

March 26, 2024

By Ayodele Oni

A leading Governorship aspirant of the All Progressives Congress (APC) in Ondo State, Paul Akintelure, is dead.

It was gathered that Akintelure a Medical Doctor from Igbotako, in Okitipupa Local Government Area of Ondo state, died in the early hours of Tuesday after a brief illness.

Credible family sources disclosed that Akintelure passed on in Lagos.

As at the time of filing this report, the family was yet to officially announce the development.

A few days ago, Akintelure had raised an alarm that there had been both direct and indirect attempts on his life.

In a statement released by his spokesperson, Oladapo Akintelure, he expressed his initial belief that the threats would subside over time.

Akintelure expressed concern that the situation had worsened as the APC Governorship Primary election scheduled for April 25 approaches.

He further revealed that he had reported the threats to the relevant security agencies and received intelligence reports and recommendations.

Akintelure served as the running mate to the late Governor Oluwarotimi Akeredolu during the 2012 election under the defunct Action Congress of Nigeria (ACN).

He also served as a Commissioner in the immediate past administration of late Governor Oluwarotimi Akeredolu.

Dangote Killer Trucks Leave Pains Behind; Nigerians Demand Govt Action

James Orji

March 26, 2024

A Dangote Truck driver who killed a woman in Lagos state on Monday in Lagos has been arrested.

The yet-to-be identified driver was said to have crushed the woman to death around Abule-Egba inward Mobil Filling Station beside Jubilee Bridge Opposite Zenith Bank, yesterday in the state.

The truck plate number was identified as “Kano MDB531 XA”

According to a statement issued yesterday by the Director, Public Affairs and Enlightenment Department of the Lagos State Traffic Management Authority, LASTMA, Adebayo Taofiq, the accident was caused by brake failure, explaining that the trapped woman’s dead body was evacuated underneath the Dangote truck by LASTMA officials alongside other security agencies.

The body of the deceased has been handed over to the police, Taofiq said in the statement.

Part of the statement said: “Preliminary investigations revealed that the Dangote Mixer truck while on a high-speed lost control as a result of a brake failure and while trying to swerved into a drainage channel crushed an innocent woman.

“While the truck driver was immediately apprehended by Lastma Officials, Police men from Oko-Oba Police Station provided security backup while the rescue operations lasted.”

Not a few Nigerians have criticized the careless manner drivers working for the company drive on the road.

Monday’s incident was among many incidents in which trucks belonging to the company owned by Africa’s Richest Man have sent some innocent Nigerians to their untimely death.

In fact, the recurrent incidents have earned Dangote Trucks the nomenclature of ‘Killer Trucks’, amidst demand by Nigerians for responsibility on part of the drivers of the company , and the call on the government to rein in the company in other to curb the menace of road users being sent to the grave almost on a reccurrent basis.

The demand from Nigerians for an immediate action stemmed from the belief among that the company behave as if they are above the law.

“How many Dangote drivers who kill innocent people on the road have been arrested? In fact, the drivers always tell those that care to understand that they are ‘kill and go’ because nobody can do anything to them,” a Lagosian who witnessed one of such incidents told the magazine on Tuesday.

The source said Dangote Trucks have become ‘a menace to Nigerians’ who are using the road because they don’t know the next person to be “crushed to their untimely death” by these careless truck drivers.

Last December, another woman standing by the roadside in Ogun State was crushed to death by a Dangote truck driver. The plate number of the vehicle was marked XA354WDP, according to the Federal Road Safety Corps, FRSC.

Following the incident which occurred at Dalemo-Ota, along the Lagos-Abeokuta Expressway on Friday, December 29, the FRSC Public Education Officer, FRSC, Ogun Sector Command, Florence Okpe disclosed that a total of two persons were involved in the accident, one male adult and one female adult.

“The female adult was recorded dead from the crash,” she said in a statement.

She called on Dangote and other companies to “always conduct routine checks on their vehicles and make sure the braking systems are effective before putting them on the road.”

Tinubu Has Failed To Protect Northern School Children, NEF Says

James Orji

March 26, 2024

President Bola Ahmed Tinubu has failed in his responsibility to secure the country, the Northern Elders Forum, has said.

The Forum said yesterday that the northern part of the country has been mostly hit as a result of the president’s inability to protect the country.

The NEF was reacting to the recent release of 137 students abducted by terrorists in Kuriga, Chikum Local Governmnet Area of Kaduna state.

Their release came after more than two weeks in the captivity of their abductors.

According to the NEF spokesman Abdul-Azeez Suleiman, the fact that the criminals were allowed to kidnap the school children is a sign that security of life and property is missing in the country.

His remark was contained in a statement released on Monday.

He called on the President Tinubu administration to wake up to his responsibility to provide security for Nigerian children, stating that “enough is enough” of the abduction of pupils, adding that the administration must do more to put an end insecurity in Northern Nigeria.

Part of the statement said: “It is unacceptable for Nigerians, particularly those in the northern region, to continue living under such insecure conditions.

“Unfortunately, just months into the Tinubu administration, there have already been clear signs of failure in providing the vital aspects of security of life and property to citizens. This situation is deeply concerning and requires immediate attention from our leaders.

“While we celebrate the return of the abducted Kuriga schoolchildren, we must also recognise this event as a wake-up call for all of us.

“We cannot afford to become complacent in the face of such acts of violence and disregard for human life. As elders, it is our duty to protect and nurture the next generation.

“We also call for accountability and swift action from our leaders to address the security challenges our communities are facing.”

Following the release of the Kuriga school children, the Kaduna state government failed to confirm whether their release was negotiated with the kidnappers.

The governor of the state, Sani affirmed yesterday that it did not matter whether ransom was paid for their release or not.

CBN Cuts $ Sales To Forex Dealers Amidst Naira Gains

James Orji

March 25, 2024

The Central bank of Nigeria, CBN, has announced a cut in dollar sales to Bureau the Change in the country.

The development comes amidst the gains recorded by the Nigerian currency against the American greenback. The Naira was traded for N1400 to the dollar on Monday after weeks of serious devaluation to as low as N1700.

Analysts have predicted a further recovery of the naira against other international currencies due to the serious tightening measures imposed by the CBN.

In a letter addressed to the BDCs on Monday by the Director, Trade and Exchange Department at the CBN, the apex bank stated that BDCs in the country would no longer be able to buy $20,000 as the case was before.

Last month, the CBN said it has resumed dollar sales to BDCs after months of suspension, stating that it took the decision in a bid to address the lingering price distortions affecting the Naira’s exchange rate.

It also directed eligible BDCs to adhere strictly to guidelines regarding the sale of foreign exchange to end-users.

Part of the guidelines released last month said: “Transactions by BDCs should only take place at approved office/outlet addresses; street hawking is strictly prohibited.

“Daily reports of Foreign Exchange sales to end-users must be submitted before 10 am the next business day on the Financial Institutions Foreign Exchange Reporting System (FIFX) portal.

“The CBN Examination team will conduct periodic spot checks on Foreign Exchange disbursements by BDCs. BDCs must uphold a high standard of professionalism and transparency in line with established guidelines. Any violation will result in immediate revocation of the BDC license.”

Barely a month after, the government-controlled bank said it has reviewed the policy; BDCs will now be able to purchase only $10,000 from the CBN, according to a letter sent to the President of the Association of Bureau De Change Operators of Nigeria, ABCON, Dr. Hassan Mahmud today.

The Yemi Cardoso-led CBN said the policy takes effect from March 28 this week, adding that BDC will now be able to buy forex at a rate of N1,251 per dollar, instead of the old price of N1,301.

LP Holds National Convention On Wednesday Amidst Controversy

James Orji

March 25, 2024

No going back on the planned National Convention of the Labour Party, the party has declared.

The Julius Abure-led LP made this known on Monday through its Acting National Publicity Secretary of the LP, Obiora Ifoh.

The convention, Ifoh stated, has been scheduled to take place on March 27, 2024.

Recall that the party disagreed with the LP caucus in the House of representatives on the modalities for holding the convention, and whether to go ahead with it.

Instructively, the Caucus led by Victor Afam Ogene, representing Ogbaru, Federal constituency had demanded the postponement of the convention on the basis that key stakeholders in the party had not been duly informed of the plan.

Amidst the disagreement among key stakeholders in the party, members of the Nigerian Labour Party, NLC, last week stormed the party’s secretariat in Abuja, demanding the resignation of Abure.

In spite of the controversy, the party said it’s prepared for a ”smooth convention”.

According to Ifoh, “Arrangements for a successful convention are in top gear. As I speak to you, Nnewi the venue of our national convention is agog with our preparations.

“Our delegates’ list is intact. The delegates have been informed and the Independent National Electoral Commission (INEC), has the list. The commission is the statutory body empowered to supervise the conduct of the exercise.

“We are expecting seven (7), delegates from each of the 36 states of the federation including the Federal Capital Territory (FCT), all elected members of the party in the Senate and House of Representatives as well as State Houses of Assembly, LP Commissioners and members of the National Working Committee among others.”

Meanwhile, the Presidential candidate of the party in the 2023 election, Peter Obi is said to have dumped Abure amidst the controversy trailing the party in recent times.

Whether Obi will take part in the convention has remained a matter of conjecture.

Why FG Invited Sheikh Gumi For Questioning

The Source

March 25, 2024

By Suleiman Anyalewechi

In the aftermath of the abduction of about 137 school children in the Kuriga area of Kaduna State and the spate of banditry and kidnappings rocking parts of Northern Nigeria ,the Federal Government on Monday, March 25, 2024, said it has officially invited fiery Kaduna-based Islamic Cleric, Sheikh Ahmad Gumi, for questioning, insisting that neither Gumi nor any other persons is above the law.

The Kaduna State Governor, Uba Sani early Sunday morning, March 24 announced the release of the abducted school children and their teachers.

Mohammed Idris, Nigeria’s Minister of Information who disclosed while briefing the Media at the Presidential Villa, noted that since Sheikh Gumi is not above the law, he has to account for his actions and statements, especially, when weighed against the interest of National security.

The Kaduna based Islamic preacher had, on the heels of the national and global outrage that trailed the mass abduction of the kuriga School children ,as usual, offered to mediate between the authorities and the criminal elements,a development that sparked even greater outrage among many Nigerians.

Before now, many people had alleged that the Cleric is one of the sponsors of insecurity in the North going by his numerous provocative statements about the activities of bandits and. kidnappers, with many also calling for his arrest .

According to the Information Minister, the Federal Government will go the whole hog in getting all the necessary information needed to halt the current spate of security challenges in the country.

“Sheikh Gumi or any other individuals are not above the law. If he has suggestions that are good enough and that are constructive enough for the security agencies to take, they will take . But if they think that he is also making some statements that appear to be reckless, he will also be reprimanded.

“When you make remarks, particularly, remarks that border on our national security, it is incumbent on our security to think further and they are doing just that. No one is above the law.” Idris noted

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