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CBN To Get Full Dollar Revenue From NNPCL

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Governor of the Central bank of Nigeria, CBN, Yemi Cardoso says the Nigerian National Petroleum Company Limited and the Ministry of Finance have now agreed to remit all dollar revenues into the CBN.

Not a few Nigerians who blamed the NNPC for the dollar shortages currently being experienced in the country have welcome the decision.

The development is likely to boost the nation’s forex reserve as well as restore the value of the naira which has been on the declining trajectory recently, according to them.

The CBN governor disclosed this during his keynote speech at the launching of the Nigerian Economic Summit Group macroeconomic outlook report for 2024 on Wednesday.

Cardoso said the development will boost the nation’s External Reserves and foreign exchange flows into the country, and also stabilize the foreign exchange market.

The CBN boss said, “I am pleased to note our collaboration with the ministry of finance and the NNPCL to ensure that all FX inflows are returned to the CBN. This coordinated effort will enhance the bank’s FX inflows and contribute to the growth of reserves.

“The expected stability in the FX market for 2024 can be attributed to the reduction in petroleum product import and the recent implementation of the market-determined exchange policy by the CBN. This reform is designed to streamline and reform multiple exchange rates.

“The resulting consistent and stable exchange rate will not only boost investors’ confidence but also attract foreign investment alleviating Nigeria’s appeal to global investors.”

Recall that Sanusi Lamido Sanusi, a former CBN Governor and Emir of Kano had trenchantly criticized the NNPC Limited for not remitting enough dollars to the government.

Sanusi challenged the NNPCL  to give account of the dollar inflows from its operations.

Afenifere: The ‘Coup’ Ousting Adebanjo; The Peter Obi Angle

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Pa Ayo Adebanjo is no longer the Deputy Leader of Afenifere, the pan-Yoruba socio-political organization.

Adebanjo was removed yesterday by the leader of the organisation, Pa Reuben Fasoranti at the monthly general meeting of the group, held at the latter’s residence in Akure, the Ondo State capital.

Until his removal, Adebanjo had had a frosty relationship with the leadership of the group.

His ouster, according to those watching what is happening in Afenifere has been long overdue, as he appears not to share the same interest with the body.

According to Fasonranti, the decision comes in the light of the ongoing efforts by the leadership of the association to reposition the group for current reality.

With that in mind, the Afenifere stated, the position of Deputy Leader was no longer necessary, saying the responsibilities and authority of advising Afenifere leader and Asiwaju Yoruba are now vested in the Afenifere Elders Caucus which has been constituted comprising 21 members.

Fasonranti said he’s the chairman of the caucus while other act as members.

Other caucus members include, Chief Ayo Adebanjo; Oba Olu Falae; Senator C. O. Adebayo; Senator Femi Okunrounmu; Basorun Seinde Arogbofa; Senator Kofo Bucknor Akerele; Arch Bishop Prince Ayo Ladigbolu; Lt. Gen Alani Ipoola Akinrinade; Maj Gen. Olu Bajowa (rtd) and Prof Bolaji Akinwande Akinyemi.

They also include, Prof Banji Akintoye; Dr S A J Ibikunle; Chief Femi Aluko; Prince Alonge; Dr Yomi Finnih; Prince Olusi; Hon Korede Duyile; Prof Ropo Sekoni; Hon Lekan Alabi and Dr Kunle Olajide.

Recall that during the 2023 presidential election, Adebanjo Acting as Afenifere leader at the time, supported Peter Obi, the candidate of the Labour Party, LP, while the larger Afenifere backed Bola Ahmed Tinubu of the All Progressives Congress, APC, who later won the election.

Adebanjo said he decided to back Obi for presidency in other to promote equity and inclusiveness.

He said, “The current President is a Fulani from the Northwest and by virtue of the zoning arrangement that has governed Nigeria since 1999, power is supposed to return to the south imminently

“The southwest as I have pointed out has produced a president and currently sits as VP, the South-South has spent a total of6 years in the Presidency, but the Igbo people of the South-East have never tasted presidency in Nigeria, and now that the power is due back in the South equity demands that it be ceded to the Igbo.

“We cannot continue to demand that the Igbo people remain in Nigeria, while we at the same time continue to brutally marginalize and exclude them from the power dynamic.

“Peter Obi is the person of Igbo extraction that Afenifere has decided to support and back, he is the man we trust to restructure the country back to federalism on the assumption of office,” Adebanjo said.

According to keen watchers of events in the country, key leaders of the group were not happy with Adebanjo for his decision, they blamed him for polarizing the group. He is a rebel who must be punished, they said, stressing that others could follow the same trajectory if Adebanjo is not made example of.

The only way to restore the group to its prime place in the south west and Nigeria at large, some leaders of Afenifere said is to sanction Adebanjo, sources informed the magazine on Thursday.

Explaining what transpired at the Akure meeting in a communique released to the media,  the National Publicity Secretary of Afenifere, Jare Ajayi explained stated that a motion to remove Adebanjo was moved by Dr. S. J. Ibikunle from Ogun State and was seconded by members from Ekiti, Kwara, Oyo and Ondo States.

“When the matter was thrown to the general house, the motion was unanimously carried.”

The group also resolved that there is an urgent need to rework the Security Architecture of the country to ensure that Nigerians were able to live and move about without the fear of being kidnapped or harassed in any way.

“Such reworking should include giving states and local government councils that so desire to establish own police services with all the requisite powers to function as such. Doing so would check, if not totally stop, the incidences of kidnapping and sundry banditry now ravaging the land.

“The unfortunate blast in Ibadan clearly underscores the need to allow the federating units in the country to control mineral resources in their respective areas with particular reference to mining and exploration. The reasoning behind this was that had it been that states were in control of mining for instance, Oyo State government was likely to know how explosives were being moved around. Such would have made last week’s horrendous blast that claimed many lives, traumatized hundreds of people and destroyed properties running into billions of Naira would have been prevented.”

According to the Communique, the meeting took note of the report that Miyetti Allah Hore set up a 1,144-strong Nomad Vigilante militia in Nassarawa ostensibly to provide security for Fulani herders.

“Afenifere was of the opinion that Miyetti Allah, being a non-state actor, should not have power to do a thing like that. It therefore considered the action of the Department of State Security (DSS) to checkmate Miyetti Allah on the issue as timely and in order.

“The meeting expressed the hope that President Tinubu’s Renewed Hope Agenda would be giving the necessary push so that life can be easier for the people of Nigeria.

“Among the means of achieving this are taking steps that would strengthen the value of our currency, the Naira, reduce costs of energy (fuel in particular) through local production of petroleum products as well as regular supply of electricity.”

CBN: Cardoso Fiddles As Naira Declines; Bloomberg’s Right

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The assertion on Wednesday by Yemi Cardoso, Central Bank of Nigeria, CBN Governor that the naira is undervalued is at best his opinion which may not be taken seriously by keen financial analysts who have watched the misfortune that has befallen the currency since June last year.

“We believe that the naira is currently undervalued and, coupled with coordinated measures on the fiscal side, we will expedite genuine price discovery in the near term,” Cardoso said yesterday at the unveiling of the Nigerian Economic Summit Group, NESG, 2024 Macroeconomic Outlook Report, in Lagos.

The CBN boss spoke as the naira continues to decline in value at both the I&E and parallel windows. The currency was traded for N1, 355 to the Dollar on Wednesday at the parallel market while the official CBN rates stands at N882 to the American currency.

Analysts insist that the currency is inching towards N1,400 and N900 to the American greenback as the Dollar is popular, at the I&E and unofficial windows, respectively before the end of the month.

Instructively, the national currency has declined by at least 50 percent in the last one year.

The situation is not likely to get better says Bloomberg, a US-based media organisation, which predicted last month that naira will experience further decline this year.

The publication predicted that the currency will experience the worst devaluation since 1999, noting that naira has become the worst performing currency globally.

Bloomberg made this known in a report released on Friday, December 29, 2023.

At the time of the report naira was traded N1,043 per dollar, “and that’s in the official market. On the streets, the currency trades at 1,208 naira per dollar,” Bloomberg stated.

The publication warned that the situation could even get worse except the federal government ramp up efforts to attract foreign capital into the country, in other to shore up the foreign reserves.

Bloomberg said: “Foreign reserves in Africa’s biggest crude producer are at the lowest in six years with most of them encumbered by overdue short-term overseas obligations.

“Unless President Bola Tinubu’s government lures international investors or ramps up oil output, the naira may slip further, according to Vetiva Capital Management Ltd.”

In the non-deliverable forwards market, Bloomberg said the naira’s 12-month contract is trading near a record low of N1,294.44 to the dollar.

“It’s clear that further devaluation – alongside tighter monetary policy – is needed to reduce imbalances in the FX market,” Bloomberg quoting a senior economist at Tellimer Ltd, Patrick Curran, stated.

Meanwhile, analysts insist that the worst misfortune that has hit the naira started in June last year after the CBN announced the unification of all segments of the Nigerian forex market.

The CBN policy had collapse  all windows into the Investors & Exporters, I&E, window, saying it took the decision as part of the Nigerian government’s efforts to improve liquidity and stability in the market and attract foreign investors into the nation economy.

Angela Sere-Ejembi, Director, Financial Markets while releasing a statement to that effect said “All transactions will now be done through the Investors and Exporters (I&E) window, where the exchange rate will be determined by market forces. Applications for medicals, school fees, BTA/PTA, and SMEs would continue to be processed through deposit money banks.”

Relocation Of Seat Of Power To Lagos: Onanuga Warns Ethnic Champions

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By Akinwale Kasali

The Presidency has said there is no plan whatsoever to relocate the Federal Capital to Lagos from Abuja.

A post by Bayo Onanuga, Special Adviser on Information and Strategy to President Tinubu, on his X handle (formerly Twitter), stated that “there is no iota of truth in this, that it is just a figment of imagination from mischief makers.”

According to Onanuga, those peddling the rumours are dishonest, ethnic and regional champions, trying to draw attention to themselves.

He said that those pushing the campaign of falsehood know they are playing politics, albeit dangerous politics to pitch the North against the South.

Onanuga said Abuja has come to stay as it is backed by law.

His statement comes after the recent relocation of FAAN, a department of the Aviation Ministry, to Lagos.

Onanuga said there are many parastatals that are not based in Abuja depending on their mandate, insisting that administrative decisions should not be politicized.

The statement reads, “President Tinubu has no plan whatsoever to move the Federal Capital to Lagos. The rumour first surfaced during the campaign last year by opponents looking for all manners of weapons to stop him. We trashed it.

“Those peddling it anew are dishonest, ethnic and regional champions, trying to draw attention to themselves. Abuja has come to stay. It is backed by law.

“ The movement of FAAN, a department of the Aviation Ministry to Lagos, where it was based before former minister Hadi Sirika moved it to Abuja during the last administration, does not amount to moving the FCT to Lagos.

“ The administrative move should have attracted scant attention, as Lagos is the commercial capital and the hub of aviation business in Nigeria. FAAN should be nowhere else but near the industry it regulates. FAAN will still maintain some presence in Abuja, as it is not a wholesale movement.

“Similarly, the movement of some departments of the CBN to Lagos should not trigger any hoopla. The departments concerned, including the bank supervision department, are those dealing with commercial banks, all with headquarters in Lagos. A regulator ought to be close to the businesses it regulates.

“All those pushing this campaign of falsehood know they are playing politics, albeit a dangerous politics to pit the North against the South.

“There are many parastatals that are not based in Abuja depending on their mandate. NIMASA is in Lagos. So is NPA. The National Inland Waterways Authority( NIWA) is in Lokoja, not Abuja. Will the people opposing the movement of FAAN and some CBN departments want those agencies to be in Abuja, where there is no single port and no maritime activity?

“ Administrative decisions should not be politicized. Let it not look like whenever we are temporarily not at the helm of affairs, we create all manners of dangerous rumours to distract from the bigger picture and emasculate an administration led by a Southerner.

“Let’s stop the dirty politics. We can’t be playing politics with everything.”

Akeredolu To Be Buried February 23 In Owo, Interment, Strictly For Family

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By Adesina Soyooye

The late Governor of Ondo State, Rotimi Akeredolu, SAN, will be buried in his native Owo Community on February 15, contrary to the insinuations that he will be buried in Ibadan, Oyo State.

However, a number of the  activities to see him finally home will be held in Ibadan.

Akeredolu, who passed on in Germany on December 27, 2023, had a flourishing legal practice in Ibadan, from where he became a two-term tenure as the President of the Nigeria Bar Association, NBA.

According to a statement issued by his son, Oluwarotimi Akeredolu,  Jnr., the late Governor’s interment in Owo would be strictly for his family.

Following is the statement which detailed activities to mark his journey home.

CELEBRATION OF A REMARKABLE LIFE

“With hearts overflowing with gratitude, the entire Akeredolu family wishes to extend our deepest appreciation to all those who have extended their warmth and compassion to us during this trying time, following the unfortunate transition of our beloved Patriarch, Arakunrin Oluwarotimi Akeredolu, SAN, CON, former Governor of Ondo State (February 2017 – December 2023). The outpouring of love we have received has been nothing short of a deluge, and for that, we are profoundly grateful.Your unwavering display of affection has touched our souls in immeasurable ways, and mere words cannot adequately express our gratitude. Your love and kindness serve as powerful catalysts, strengthening our unshakeable faith in God Almighty and reaffirming our commitment to serving humanity.

“To those who took the time to visit us in Ibadan and Owo, we extend our heartfelt appreciation. Your presence brought solace to our hearts, and your invaluable support lifted our spirits.

“Our gratitude also extends to the esteemed political leaders, revered royal fathers, devout religious leaders, community pillars, heads of security agencies, dedicated unionists, civil servants, public officials, student leaders, and women groups, as well as politicians from across party lines, who have shown us love and sympathy during this challenging period.

“It is with deep respect and a sense of duty that we invite our dear friends, associates, and well-wishers to join us in giving our late Patriarch a befitting funeral. The obsequies are as follows:

” *Thursday, February 15, 2024:

Winning Soul Crusade at MKO Abiola Democracy Park, Akure

Time: 5pm

*” Friday, February 16, 2024:

Jumat Service at Akure Central Mosque

Time: 2pm

“•Saturday, February 17, 2024:

Loyola Day of Tributes at Loyola College Hall,

Old Ife Rd, Agodi,

Ibadan, Oyo State.

“• Sunday, February 18, 2024:

OAU Night of Tributes at OAU Secretariat, Old Ife

Road, Agodi, Ibadan Oyo State.

Time: 4 pm- 6pm

“• Monday, February 19, 2024:

Special Court Session

Oyo State Judiciary Complex,

High Court 1, Ring Road

Ibadan, Oyo State.

Time: 10 am

“NBA Tribute Session

Follows immediately @ Aare Afe Babalola Bar Centre,

Iyagakun, Ibadan, Oyo State

“Service of Songs/ Night of Tributes

Jogor Centre, Liberty Road,

Ibadan

Time: 5pm – 9 pm

“• Tuesday, February 20, 2024:

Commendation Service

All Saints Church, Jericho, Ibadan

Time: 10 am – 12 Noon

“Private Viewing (Strictly By Invitation)

Residence, Ibadan Oyo State

Time: 3pm

“• Wednesday, February 21, 2024:

Ajabue (Traditional Rites)

Owo, Ondo State

Time: 9 am – 4pm

“Special Court Session

Court 1, Ondo State High Court Headquarters,

Hospital Road, Akure, Ondo State

Time : 10am

“Lying in State and Commendation Service

Akure Township Stadium

Time: 1pm

“Evening of Tributes

St Andrews Church,

Imola Street, Owo

Time:4pm – 7pm

“• Thursday, February 22, 2024:

Service of Songs

St Andrews Cathedral, Imola Street,

Owo, Ondo State.

Time: 4pm

“Wake-Keep

Maranatha Villa, Owo,

Ondo state

Time: 8pm

:Candlelight Procession & World Gyration

by the Kegites Club

Time: 8pm till Dawn

Friday, February 23, 2024:

Funeral Service at St Andrews Church, Imola Street, Owo.

Time: 10 am

“Interment follows immediately after the burial service at the burial site, Owo. (Strictly for immediate family)

“Reception at Mydas Hotel and Resort, Ikare Road, Owo by 1pm.

*Saturday, February 24, 2024:

Akeredolu Memorial Friendly football match

Akure Township Stadium, Akure.

Time: 3 pm

*Sunday, February 25, 2024:

Thanksgiving Service at St Andrews Church, Imola Street, Owo

Time: 10 am

*As we prepare to celebrate the life of a man who embodied numerous admirable qualities and left an indelible mark, we humbly request your prayers, support, and encouragement. Your presence will undoubtedly make this commemoration all the more beautiful.

“Signed:
“Oluwarotimi O. Akeredolu, Jnr.”

Gov Aiyedatiwa Picks Owo-born Technocrat As Deputy Governor, Forwards Name To Assembly

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Olayide Owolabi Adelami

By Ayodele Oni

Few hours after the dissolution of Ondo State Executive Council, and after days of anxiety, Governor Lucky Aiyedatiwa has forwarded the name of Olayide Owolabi Adelami to the state House of Assembly for screening and approval as Deputy Governor.

Adelami, whose name is not so popular in Ondo politics, hails from Owo, North Senatorial District and country home of late Oluwarotimi Akeredolu, SAN.

His profile : Chief Olayide Owolabi Adelami, mni, hails from Owo, Ondo state. He was born over six decades ago to the family of Oluka Oribokun to Pa and Mrs Amos Adelami.

“Adelami graduated from the prestigious Imade College in Owo before proceeding to The Polytechnic, Ibadan for his GCE A level, and University of Lagos for his Bachelors of Science in Business Administration. He further got an MBA degree from Ogun State University.

“After the completion of the mandatory one year National Youth Service Corps (NYSC) in June 1983, young Adelami was enlisted into Federal Civil Service as an Accountant II in December, 1983.

“He resumed to the Treasury Department of the Accountant General of the Federation office and in 1988 he was later posted to the National Assembly Provisional Office, Abuja as one of the pioneer staff of the Constituent Assembly which metamorphosed into the present day National Assembly.

“In the discharge of his duty, Adelami had the singular privilege of setting up the Finance and Accounts Department of the National Assembly as we have come to know it. In 1996, he was invited to help in setting up the Accounts Department of the Petroleum Special Trust Fund.

“After completion of this tasks, he was also beckoned to serve at the Family Support Trust Fund where, again, he helped set up the Finance and Accounts Department.

“He headed these departments between 1996 and 2000. It is mention-worthy that the project of National Hospital, Abuja was executed and delivered during Adelami’s service period.

“His sterling performances, years of experience and reputation as an astute manager of resources with enviable integrity saw Adelami being recalled to the National Assembly in 2000 to strengthen the Finance Department.

“Three years later, he was made the Head of the Finance and Accounts Department. He remained in this position till 2007 when he was confirmed as a Director.

“The following year, he was nominated for a one year senior management course at the prestigious National Institute of Policy and Strategic Studies (NIPSS), Kuru, Jos.

“After the completion of his course at the Institute of Policy and Strategic Studies in 2008, he was assigned a bigger task of pioneering the newly created Department of Procurement and Supplies.

“Without a single trained staff in procurement processes, Adelami embarked on the rigorous process of staff training and nurtured the department to an enviable position.

“In 2014, he was promoted to the position of Secretary (Permanent Secretary), Directorate of Procurement, Estate and Works. A position he held until he was appointed as the Deputy Clerk to the National Assembly.

“He remained the Deputy Clerk to the National Assembly until his retirement in April 2018.”

Truce As Anambra Gov Soludo Pardons Traditional Rulers

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By Ayodele Oni

Reprieve has come for Four monarchs in Anambra state including Obi of Onitsha that incurred the wrath of Governor, Chukwuma Soludo.

The governor reconciled with the Obi of Onitsha Igwe Nnaemeka Achebe after a spat over traditional rulers, and reinstated the suspended traditional ruler of Neni in Anaocha Local Government Area, Igwe Damian Ezeani.

The Monarch, among others, were alleged to have conferred unauthorized chieftaincy titles on some persons, especially Senator Ifeanyi Ubah, who joined the All Progressives Congress (APC).

Ubah is believed to be preparing to challenge Soludo for the governorship seat in 2025.

Following the suspension and other issues, Igwe Achebe wrote a long letter, condemning Soludo, accusing him of having no regard for traditional institution in the state, which led to his suspension as chairman traditional rulers council.

A statement in Awka on Wednesday, the Press Secretary to the Governor, Mr Christian Aburime, said Soludo reinstated the suspended Neni monarch and forgave two others for their alleged infractions.

He said the governor made public his decision to pardon the affected monarchs at a meeting attended by no fewer than 94 traditional rulers.

Aburime said while Igwe Ezeani was reinstated, the monarchs of Ojoto and Aguluezechukwu were forgiven after apologies.

Aburime said the governor also addressed some of the welfare issues of the monarchs.

According to him: “The Governor announced that with the apologies of the affected Traditional Rulers, the State government accepts their apologies, and subsequently reinstates the Traditional Ruler of Neni, and forgive the Traditional Rulers of Ojoto and Aguluezechukwu.

“Mr Governor further clarified the legal status of the Igwe Nawfia as advised by his legal team.

“As part of the vote of thanks, both the Obi of Onitsha and Igwe Ojoto requested for regular meetings with Mr Governor which Mr Governor graciously accepted to hold at least twice a year.”

Ondo Gov Aiyedatiwa Sacks Late Akeredolu’s Appointees

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Lucky Aiyedatiwa

By Ayodele Oni

Governor of Ondo State,  Lucky Aiyedatiwa, has dissolved the State Executive Council, with immediate effect.

This is coming almost a month after Aiyedatiwa was sworn in as governor following demise of Oluwarotimi Akeredolu.

The loyalty of the sacked commissioners has been a matter of concern as some of them played roles in the planned impeachment of Aiyedatiwa while serving as deputy governor.

Aside this, some of them have signified intention to square up with the governor as the governorship contest approaches.

Government statement on Wednesday, directed members of the Cabinet to immediately hand over to the Permanent Secretaries or the most senior administrative officers in their respective offices.

The statement, signed b6 Chief Press Secretary to the governor, Ebenezer Adeniyan also announced that all Senior Special Assistants (SSAs) and Special Assistants (SAs) are relieved of their duties, with immediate effect.

“All the affected officials are directed to hand over all government properties in their possession.

The Governor thanks the affected officials for their services and contributions to the development of the State.”

Gbaja And His Many Controversies; Will Tinubu Sack Him?

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Femi Gbajabiamila, the chief of staff to President Bola Ahmed Tinubu seems to have become controversy personified.

A former Speaker of the House of Representatives, Gbaja as he is fondly called by admirers was appointed into that position in June last year by the president, making him one of the most influential government officials in the administration.

His position in government has also not escaped some controversies trailing him behind, especially on issues relating to corruption.

The latest of such is that the president’s CoS is one of the beneficiaries of proceeds of corruption in the Central Bank of Nigeria, CBN, and Assets Management Corporation of Nigeria, AMCON.

The CBN under its former Governor Godwin Emefiele is currently under probe by the Economic and Financial Crimes Commission, EFCC.

According to Presidency sources, a probe panel headed by Jim Obazee, a special investigator appointed by President Tinubu to probe the nation’s apex bank, has indicted Gbajabiamila as one of the beneficiaries of stolen funds in which Emefiele is now being investigated by the government.

Recall that the CoS to the president recently sparked an outrage among not a few Nigerians after a leaked memo dated December 18, 2023, indicated that Gbajabiamila approved N3 billion from the COVID-19 Palliative Fund for verification of the National Social Register, for suspended Minister of Humanitarian Affairs and Poverty Alleviation, Beta Edu without authorization from the president.

Edu was recently suspended from office after a viral memo showed that she directed the Accountant General of the Federation to pay close to N600 million poverty alleviation funds into a private account.

The recent controversy trailing Gbajabiamila may further put pressure on the president to sack him, those monitoring the Presidency said.

According to the allegations, Gbajabiamila benefitted from the sales of properties seized by AMCON during his tenure as Speaker of the House of Representatives.

It is based on this, that he has been using his influence in the Presidency to block the removal of AMCOM boss Ahmed Kuru, who according to records has spent a maximum eight years in the position.

Sahara Reporters quoted sources in the Presidency saying the former Speaker benefitted from Kuru’s “largesse of Ikoyi properties from his days as Speaker of the House of Representatives”.

The source claimed that Gbajabiamila, in return, had ensured Kuru remained as AMCON’s Chief Executive after about nine years.

“President Bola Tinubu is under pressure from some political associates, whom Kuru has soiled their white robes, including the Hon Femi Gbajabiamila (President’s Chief of Staff), who has benefitted from Ahmed Kuru’s largesse of Ikoyi properties from his days as Speaker of the House of Representatives,” the source said.

Recall that the Special Investigator’s report on the probe of Emefiele uncovered the alarming sums of public funds which went into the fraudulent acquisition of Polaris, Keystone and Union banks under Emefiele and AMCON under Kuru’s leadership.

The former Speaker’s supporters have however described the controversies surrounding him as the work of his adversaries.

His detractors will fail in their quest to ensure his downfall, a group the Northern Ethnic Group Assembly, NEYGA, said last week, stressing that those responsible for the allegations want President Tinubu to fail.

NEYGA said: “It is clear some people are still seeking the downfall of one of the best brains in President Bola Ahmed Tinubu’s administration, but they have failed.

“Someone who managed 360 elected representatives of the Federal House of Representatives for a solid four years without a blemish will not fall for a peanut. Detractors do not understand the quality and value of Femi Gbajabiamila.

“The Chief of Staff has crossed the bridge before it collapsed, so what they are pursuing is emptiness the second day after the Market day!

“We, the concerned citizens for good governance, will soon expose all of you behind the evils you planned.

“It is now an open secret that you want the government of President Bola Tinubu to fail by trying to pull down the pillars of support behind him,” the group stated.

War On Terror: Army Loses Lieutenant To Boko Haram Ambush

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Boko Haram and ISWAP

A Nigerian Army lieutenant has been killed in an ambush by the dreaded Islamic insurgents, Boko Haram in Borno state, Daily Trust reports.

During the attack which occurred around the Lake Chad area of the state, on Saturday, the dreaded insurgents also killed some members of the vigilante assisting the armed forces fighting the insurgents in state, one of the epicenters of the insurgency.

According to the newspaper, the military had successfully took control of the Boko Haram enclave in Krenowa, Marte Local Government Area, five days earlier, after which the insurgents launched a counter attack.

Sources revealed that the attack on the soldiers from the 50 Task Force Brigade took place at Krenowa, where they encountered heavy bombardment, forcing them to withdraw.

The soldiers had initially advanced to the Boko Haram enclave as part of their efforts to intensify the fight against the terrorists.

The soldiers reportedly faced intense resistance during the engagement, leading to the withdrawal from Krenowa. In the process, they left behind 12 out of 15 motorbikes deployed for the operation.

The soldiers, numbering over a hundred and equipped with multiple gun trucks, retreated to Marte town. An Armored Personnel Carrier (APC) tank was damaged in the ambush, and the driver escaped with a leg injury.

A soldier involved in the operation told Daily Trust, “We took the fight to the terrorists at their hideout when suddenly we came under fire that forced us to retreat. I believe they were hiding underground because there was no sign of them before the ambush. We took shelter at the headquarters of the 27 Task Force in Marte town.”

Contrary to claim by the federal government, the terrorists are said to be in full control of some parts of the state.