Why Ghana Hammered Nigerian Banks

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March 6, 2024

Ghana Central Bank has suspended the trading foreign exchange licenses of two Nigerian banks.

The two banks, GTB Ghana and First Bank Ghana were issued a one month suspension for alleged Forex malpractices, the GCB authority said on Tuesday in a statement.

The statement however said the licences will be restored after one month if the banks are able put in place effective control measures.

The statement read: “Bank of Ghana has suspended the Foreign Exchange Trading Licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited (FBN), effective 18th March 2024, for a period of one (1) month, in accordance with section 11 (2) of the Foreign Exchange Act 2006, (Act 723).

“This is as a result of various breaches of the foreign exchange market regulations, including fraudulent documentation in their foreign exchange operations which have come to the attention of Bank of Ghana.

“The licence will be restored at the end of the one-month suspension period once the Bank of Ghana is satisfied that they have put in place effective controls to ensure strict adherence to the foreign exchange market regulations.”

The GCB further warned foreign exchange market players from infracting on the country’s extant financial guidelines and regulations.

By this statement, we caution foreign exchange market players to adhere strictly to the applicable forex market regulations and guidelines.”

Banks React

Reacting to the suspension, the GTB Ghana said in a statement that it it’s already engaging the Ghanaian authority on the issue, the bank urged the customers not to panic.

The statement said, “we refer to the Bank of Ghana’s announcement of the 30-day suspension of our Foreign Exchange Trading Licence effective March 18, 2024, and would like to inform our valued customers and esteemed stakeholders that we are collaborating with the Bank of Ghana to rectify the identified trade-related concerns.

“This includes branch operations, agent banking partners, and channels for seamless banking. We reaffirm our commitment to our customers and stakeholders and will continue to maintain the high ethical standards we are renowned for.”

“We would like to assure all our esteemed customers and stakeholders that we are currently working with the relevant Government Agencies and customers with a view to resolving these trade-related issues timely.

Our customers and stakeholders are our primary responsibility and, Guaranty Trust Bank Ghana would like to clarify that this development does not aect customers’ own deposits and other business segments of our operations. All other products and services ;- Main branches, Agency Banking outlets are available for your convenient use at our regular opening hours and our Mobile Apps and Internet banking are available for your use at any time of the day.

We further assure our customers that the issue was not a function of willful non-compliance by the Bank, as the Bank has a culture that endeavours to comply with regulations at all times and stringent Anti-Money Laundering CFT policies which are applied across all our operations.

We are also in ongoing consultations and discussions with the Central Bank of Ghana to fully resolve all matters raised in the shortest possible time. Guaranty Trust Bank Ghana remains committed to being a constructive participant in Ghana’s nancial markets and to contributing to its further developments in the interest of all its customers and stakeholders.

On its part, FBN Ghana urged customers to be patience as efforts are ongoing to engage with the regulatory authority in Ghana with the aim of lifting the suspension.

According to the statement said, “we refer to the Bank of Ghana’s announcement of the 30-day suspension of our Foreign Exchange Trading Licence effective March 18, 2024, and would like to inform our valued customers and esteemed stakeholders that we are collaborating with the Bank of Ghana to rectify the identified trade-related concerns.

“This includes branch operations, agent banking partners, and channels for seamless banking. We reaffirm our commitment to our customers and stakeholders and will continue to maintain the high ethical standards we are renowned for.”

Army Will Defend Democracy Against Coup Plotters- COAS

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James Orji

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March 6, 2024

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General Taoheed Lagbaja, the Chief of Army Staff, COAS, says the Army will defend the country from coup plotters.

The Army boss said the military has accepted democratic government, and would not do anything to truncate the current self government.

Lagbaja spoke while declaring open the seminar of the Army Headquarters Department of Military Secretary in Abuja on Tuesday.

The COAS who said the military remains agent of democracy stated that the armed forces “have no desire to truncate it. The Nigerian Army will continue to defend our constitution and not suspend it for whatever reason.”

His assurance comes on the heels of recent coup scare in the country, following reports that the military is not happy with the current economic and security situation in the country.

Allegedly, there were reports of suspicious movement of troops in Abuja, the nation’s capital few weeks ago, further racing the fear of military takeover.

But the Chief of Defence Staff, Gen. Christopher Musa had since dismissed the report as a figment if the imagination of it’s peddler.

The Defence Chief further reiterate the military commitment to defend democracy at all times.

Recall that the fear of coup has further been heightened following military takeover in some West African neighbouring countries.

Commissioner of Police To DPOs: You Cannot Detain Suspects Beyond 48 Hours

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The Source

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March 6, 2024

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Alhaji Mohammad Husseini Gumel - Kano CP

The Kano State Commissioner of Police, Muhammad Husseini Gumel, has issued a stern warning to all Divisional Police Officers, DPOs, in the State to refrain from detaining suspects beyond 48 hours without charging them to court.

The CP handed down the marching order on Tuesday March 5 2024, during an unscheduled visit to some Police formations within Kano Metropolis.

This is even as he has reminded the DPOs that bail application remains free.

CP Gumel emphasized the need for the DPOs and others to ensure that the fundamental human rights of citizens are respected in the course of discharging their duties,adding that all actions capable of jeopardizing the peoples rights should be avoided by police personnel.

The CP who was accompanied on the visit by officials of Nigerian Correctional Centres ,National Human Rights Commission , Judicial officers, Officials from the office of Kano State Attorney General and some Civil Society Groups, noted that the unscheduled visit is in line with Police Duty Solicitors Scheme PDSS which was flagged off in December 2023 .

“All sectors of the society would want to see what the Police is doing in terms of access to Justice . There is a marching order from the Inspector General of Police IGP for all Commissioners of police to launch the PDSS to ensure the protection of fundamental Human Rights of citizens ,and guarantee access to justice and free legal services

“So we are determined to meet the practical aspect of the PDSS . We have moved round some police formations within the metropolis and interacted with detainees” CP Gumel stated.

Alleged Bribery: “You Cannot Investigate Ganduje”, Court Tells Kano Graft Agency

By

The Source

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March 6, 2024

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By Suleiman Anyalewechi

Reprieve came the way of the National Chairman of the All Progressive Congress and immediate past Governor of Kano State, Dr Abdullahi Ganduje on Tuesday, March 5, 2024, in an alleged case of bribery and corruption, leveled against him by the Kano State Anti Corruption Commission.

This followed the ruling by a Federal High Court sitting in Kano. The Court ruled that the Kano State Anti-graft Agency lacks the power to investigate and prosecute the former Governor over the alleged 2018 Dollar bribery video.

Justice Abdullahi Liman, in his verdict noted that the alleged offence falls within Federal jurisdiction and as such can only be investigated and prosecuted by the Attorney General of the Federation ,as well as the Economic And Financial Crime Commission EFCC.

The Presiding Judge is of the view that since the alleged case falls within the jurisdiction of the Federal Government, the Kano State Anti Corruption Commission is limited in its power to investigate same .

However, the Graft agency, has signalled its intentions to appeal the ruling of the trial court.

In an interaction with the media, immediately after the Court’s judgement ,Counsel to the Commission , Usman Umar Fari, said the Agency will challenge the ruling at the Appeal Court.

The Source reports that the judgement has ignited joyous mood within the camp of the APC in the State, with many party faithful openly celebrating .

Uzodimma Commiserates With Their Royal Highnesses, Madumere, Nwaneche, Amadi on Death Of Wives

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The Source

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March 6, 2024

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The Governor of Imo State, Senator Hope Uzodimma has bemoaned the passing of wives of three traditional rulers in Imo State – HRH Eze Henry Madumere, HRH Eze Sabinus Nwaneche and HRH, Eze Reginald Amadi. He described their wives’ death as a big loss to the State and the traditional institution.

The deceased wives of the monarchs – Ugoeze Marlinda Chikanele Ulunma Madumere, Ugoeze Patience Nkechinyere Nwaneche and Ugoeze Ogechi Amadi – passed recently after brief illnesses.

Eze Henry Madumere is the traditional ruler of Achi Mbieri in Mbaitoli, Eze Sabinus Nwaneche is of the Ogwuama Ancient kingdom in Ahiara, Ahiazu Mbaise while Eze Reginald Amadi is of the Obetiti-Nguru in Aboh Mbaise.

A statement by Oguwike Nwachuku, the Chief Press Secretary and Media Adviser to Governor Uzodimma said that the Governor was seriously pained on hearing about the death of the three Ugoezes whom he held in very high esteem based on their outstanding personalities motherly roles in their domains.

The statement said that Governor Uzodimma regretted that the Ugoezes will no longer be available to continue to assist their husbands in the good works they are doing in their different communities in the interest of our society.

Governor Uzodimma, according to the statement, maintained that the deceased would be sorely missed by all but that those mourning them should be consoled by the fact that they left behind legacies of service to God and humanity which are there for everyone to see.

He also commiserated with the Imo State traditional institution and urged all and sundry in the institution to join him in committing the families of the deceased in the hands of God during this trying moment as well as to pray for the souls of the deceased.

The statement added that Governor Uzodimma prayed God, on behalf of his family, the government and people of Imo State, to grant the souls of the Ugoezes a peaceful repose, and to their husbands and all that they have left behind to mourn their unfortunate death, the fortitude to bear the loss.

“I Am Not Desperate To Be President – Peter Obi

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Akinwale Kasali

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March 6, 2024

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By Akinwale Kasali

The Labour Party, LP, Presidential Candidate at the 2023 Presidential Election, Peter Obi has said he is not desperate to be the President of the Federal Republic of Nigeria.

The former Anambra State Governor made this disclosure following the award bestowed on him as the Leadership Politician of the Year 2023 at the Newspaper’s Annual Conference and Awards event in Abuja on Tuesday.

According to Obi, it is a shame for Ukraine, a war-torn country, to donate grains to Nigeria when Niger State alone can feed the whole of Africa.

He said: “Let me thank the Leadership Newspaper for this event and the award. We’ve all heard from the keynote speaker.

“For me, this award, I am grateful to the almighty God. If I have the opportunity, I will give my all to the country.

“I am not desperate to be President. I am desperate to make Nigeria work.”

He added that “young Nigerians should be productively engaged in order to eliminate poverty and crime.

“We have no reasons to be poor. Poverty should never be part of our lives, especially, in the North,” Obi said.

He added that with over 7,442,00 square meters of land, Nigeria can feed Africa.

Obi: “Ukraine has no reason to give us grain. Niger State can feed Nigeria, Africa with over 73, 000 square meters of land.

“The two biggest States in the North-East, Borno with over 70,000 square metres of land and Taraba, are four times the size of Belgium that is exporting food.

“There is so much we can do in the country if we have the right leadership. The more you remove people out of poverty, the more you have less criminals,” Obi said.

It’s False, UAE Visa Restriction Still In Force – Presidency

By

Ayodele Oni

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March 5, 2024

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By Ayodele Oni

The United Arab Emirates (UAE) visa ban on Nigeria still subsists, the Presidency clarified on Tuesday.

Main Presidential Spokesman, Bayo Onanuga, while reacting to the viral report which stated that UAE has lifted visa ban on Nigerians stated that “UAE has not resumed visa issuance to Nigerians. The document in circulation is not authorized either by the Nigerian Government or the UAE.”

The ban was imposed in October 2022 along with restrictions on citizens from about 20 African nations. Among the affected countries are Nigeria, Uganda, Ghana, and others.

Reports surfaced on Tuesday that discussions between President Bola Tinubu and his UAE counterpart, Sheikh Mohamed bin Zayed Al Nahyan, regarding diplomatic issues like flight allocations and travel restrictions, prompted the suspension of the ban.

However, Onanuga, clarified that the ban remains in place, stating that the circulating document is unauthorized by both Nigerian and UAE governments.

Planned Impeachment Coalition Tells Gov Obaseki To Allow Edo People Decide Fate Of Deputy Governor

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Ayodele Oni

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March 5, 2024

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By Ayodele Oni

Following an alleged planned move by Edo State Governor, Godwin Obaseki, to instigate the state House of Assembly to impeach his deputy, Philip Shuaibu, Coalition of Registered Political Parties, (CRPP), in the State has cautioned against the move.

Report has it that aftermath of the governorship primary election which Shuaibu took part, Obaseki has been reaching out to the assembly and some politicians to team up to remove the deputy governor.

But coalition of registered political parties in the state, at a meeting in Benin, resolved that the plan by the state governor, Godwin Obaseki and the state House of Assembly under the leadership of Blessing Agbebaku, to impeach the Deputy Governor, Philip Shaibu “can ignite a chain reaction which can lead to anarchy.”

The CRPP Chairman, Samson Isibor and Secretary, Barrister John Isidhaome in a statement they signed said: “We implore the governor to jettison the idea of impeachment and work towards the peaceful transition of power to the next governor of Edo State.

“As far as we are concerned, the Deputy Governor has not committed any impeachable offence or breached his oath of office.

“The Edo people have the exclusive right to call for his impeachment if he commits any grievous offence like corruption, misappropriation of public funds etc.

“As far as we are concerned, Comrade Shaibu has not committed any of the above, rather he is fighting to contest for the governorship ticket of his party, which he has every right to participate unhindered.

“Governor Obaseki has no right to continue to intimidate Shaibu. Moreso, he has pushed his favourite son, Asue Ighodalo to get the PDP ticket without following the party’s guideline.

“Comrade Philip Shaibu has large followers in Edo State and should not be taken for granted. Edo State has been on a standstill for the past eight years without any physical development.

“Edo State needs peace to progress. The outgoing governor should be preparing his handover notes to Shaibu or any other candidates that may win the September 2024 gubernatorial election, instead of engineering political upheaval in Edo State.

“He should face the insecurity in Edo State where Fulani herdsmen have taken over almost all our forest kidnapping on daily basis.”

Ondo Guber: PDP NEC Rallies Aspirants, Discusses Zoning, Consensus

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Ayodele Oni

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March 5, 2024

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By Ayodele Oni

Still in search of strategy to win the forthcoming governorship election in Ondo State, the leadership of the People’s Democratic Party (PDP) held a meeting with Governorship aspirants and some leaders in Abuja on Tuesday.

Topmost of the meeting were zoning arrangement and consensus candidate to fly the flag of the party.

At the meeting, Oyo State Governor, Seyi Makinde, said the PDP, has learnt its lessons from the mistakes it made in the handling of the Ondo State Governorship Election in 2020 which led to its loss.

He maintained that this time around, the party was poised to ensure that such mistakes were not repeated noting that all aspirants will be given a level playing field to compete for the party’s ticket.

“We’ve learnt from the last governorship election. Actually, you learn more when you fail than when you succeed. So we learnt bitter lessons.

“For the benefit of everybody, the governorship election in Ondo State is not going to be handed over to anybody. It will be a fight. As PDP, we will fight.

“If, in the past four years ago, we had that division within us that allowed the seat to slip away from us.

“At this time, we are united and we will stay united all the way to the election. So this is a time for us to come together.

“We may actually disagree on a few things, but from our own situation in the Oyo States. Yes, we have disagreement, but we’re solving our problems even as we speak. We’re not solving it outside. We’re solving it right inside the Government House.

“So, if you disagree, it’s normal. But let us win the Government House and then all the areas of disagreement we will keep addressing it. We can only share success; failure is difficult to share.

“So, by God’s grace, we shall be successful in the forthcoming Ondo State governorship election.”

Earlier, National Chairman of the PDP, Ambassador Umar Damagun, explained that the meeting was convened as part of the party’s efforts to forge unity among members and stakeholders ahead of the party primary.

“This meeting is part of the fulfillment of the process of the primaries that is before us and we invited you here so that we’ll have an interactive session.

“Three important items are being mentioned by National Organizing Secretary. During this interaction, we’ll discuss the possibilities of how to achieve these three things why we invite you to express and talk freely.

“I want to enjoin all members, when you are asked to say your views, please we should talk with caution the critical thing that is before us which is the primary and eventually the election coming up.

“We have had series of meetings in Ondo and all the issues raised and there appears to be some level of understanding, I will not say agreement yet, some level of understanding.

“I can say, particularly with respect to issue of zoning appears to have been achieved, that the governorship of governorship candidate of the PDP would come from the south central district of the state.

“And if you look at all the other political parties, everyone that is contesting is from the South senatorial district.

“So, there appears to be state consensus, the consensus of the people of Ondo State that the next governor of Ondo should come from the South senatorial district.”

“On the issue of consensus, yes we still have argument back and forth, But zoning is already achieved.”

Constitutional Review To Address Gender Inequalities In Nigeria – Deputy Speaker Kalu

By

The Source

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March 5, 2024

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By Suleiman Anyalewechi

The Deputy Speaker of the House of Representatives, Rt Hon. Benjamin Kalu, has lamented the low level of women participation in the political space of Nigeria. He assured that the ongoing Constitution Review exercise will seek to address the perceived gender imbalance.

This is even as he has stressed that emerging facts strongly indicate that President Bola Tinubu is sincerely amenable to any move that will ensure enough accommodation for the womenfolk in the political architecture of the country.

Rt. Hon. Kalu gave the assurance on Monday, March, 4, 2024, in Abuja while speaking at the ongoing Roundtable on Women iqnclusion In politics jointly organized by Policy And Legal Advocacy Centre, Yiaga Africa, Nigeria Women Trust Fund and the European Union.

In a statement issued by his spokesman, Livinus Nwabughiogu, the Deputy Speaker, who is, also, the Chairman of the House Committee on Constitution review, said that the reservation of seats and adoption of electoral quota for women will greatly assist in encouraging more women participation in politics, as well as scale up the ranking of Nigeria among comity of democratic Nations.

He noted that the ongoing constitution review exercise and the ” body language” of president Tinubu are strong pointers that the inclusion of women in politics will be realized .

“The Giant of Africa ( Nigeria) is the least on the list of women participation in politics in Africa. It is not good at all.

“Does the President know this? The answer is yes. Is he in support of such exclusion? No. Is he willing to take it to the next level? Yes.

“Are there evidences to show that he believes in that ,or is his body language towards that? Yes. Check and you will find out that the First Lady was supported by him to be at the parliament for a very long time .

“Himself, (the President) was, also, at the Parliament. He understands what you are talking about.

“The Vice president was at the parliament. The Chief of Staff was, also, there. The Secretary to Government of the Federation was part of the parliament and, I am happy that his wife ( SGF wife) is with us at the House of Representatives .

“Why am I making all these references ? I am making them to reassure you that the body language of the current administration is to the fact that we want more women in politics and a friend of mine supported his wife and the wife is here and she is at the Parliament.

“There is hope that it is going to be better and we are going to leverage this renewed hope that is found in the body language of the president of the Federal Republic of Nigeria . And I hope that he is going to assent to the bill we will put together at the parliament” Kalu stated.

“The Deputy Speaker, however, highlighted some measures which could promote more women participation in politics to include, addressing deeply rooted barriers such as discriminatory laws ,and practices – cultural biases, patriarchal attitudes and entrenched gender stereotype and unequal access to resources.

According to the Deputy Speaker, these are formidable challenges that demand collective attention, noting that efforts should be directed at dismantling the obstacles ,with a view to creating the enabling environment for women to thrive in politics.