OPINION: Tinubu Getting Economy Wrong; 30,000 Wage Not Realistic
Unity Bank Loyal Customer Wins N1m in CashToken Rewards Promo
Musa Dayyabu, a customer of Unity Bank Plc has N1 million in the ongoing cash reward Promo by the lender and CashToken Rewards Africa.
CashToken Rewards Africa is a Cash-Reward-as-a-Service company that rewards customers for patronage and loyalty.
Dayyabu, a customer of the Bank from Bello Road Branch, Kano, won the cash prize after he activated his Unity Bank Verve card and having carried out transactions, received CashTokens and qualified for the weekly national consumer draw. It was in this draw, he emerged as the lucky winner of One Million Naira cash.
The Unity Bank and CashToken Rewards promo launched in November 2023, is a cash reward program that offers guaranteed instant cash and a life-changing opportunity designed to reward loyal customers of the Bank who onboard and transact on any of the Bank’s electronic payment platforms, including the Unifi mobile banking application, the *7799# USSD platform.
The program, which will run until the end of February is open to all customers. Each card transaction earns customers CashTokens, which qualifies the customer to enter into the weekly national consumer draw where they stand a chance to win from N5K -N100M Naira.
Presenting the cheque to the winner in Kano on Tuesday, Unity Bank’s Head of E-Business, Eghomware Iyamu congratulated the winner and reiterated the Bank’s commitment to create a sustainable loyalty platform for customer engagement and satisfaction.
Iyamu said, “We celebrate our customers for their loyalty to the Unity Bank and for being part of the ongoing Unity Bank and CashToken Rewards promo. The cash prize being presented today is just the beginning, we, therefore, look forward to having more winners from this programme. Let more and more people get on the Unity Bank’s digital banking, transact on the different platforms and they will equally be rewarded.”
He added, “The collaboration between Unity Bank and CashToken Rewards Africa will continue to create an unmatched customer experience. By tapping into CashToken Reward’s exceptional reward platform, Unity Bank customers can continue to anticipate generous cash rewards, transforming every interaction with the bank into a truly rewarding experience.”
Also commenting on the development, the Chief Business Development officer for CashToken Rewards Africa Africa, Simi Adeoye commended the customers of Unity Bank for the impressive number of onboarding and transactions in the build-up to the weekly draw held in the campaign period, adding that “with opportunities to win life-changing cash of up to N100m, the assurances of the transparent process will constantly be upheld to spread the benefits of the reward scheme to deserving customers”.
“The prospects of having more winners in the ongoing exercise is keeping the steam in the collaboration between the Bank and CashToken Rewards Africa,” Simi said.
Bank Set To Lay Off 20,000 Workers
Citigroup will lay off 20,000 employees over the next two years, Chief Financial Officer, CFO, Mark Mason said Friday. The reduction comes after the company reported a $1.8 billion net loss for the fourth quarter of 2023, its worst quarter in 15 years.
The bank expects the reduction in headcount to save $2.5 billion over the long-term.
The bank reported a huge earnings loss of $1.16 per share for the fourth quarter, far below estimates of a loss of 11 cents per share, according to FactSet.
Citi said there were several one-time costs that impacted its results. These included a $1.7 billion charge the bank had to pay related to the regional banking crisis last spring, an $880 million loss in Argentina and $800 million in restructuring costs associated with about 7000 layoffs in 2023.
These layoffs are part of Citi CEO Jane Fraser’s years-long effort to cut red tape at the company and boost lagging profits. Fraser called the results “very disappointing” on a call Friday morning, but said that 2024 would be a “turning point year” for the country’s third largest lender.
“Whenever an industry or company goes through these types of reductions, it’s tough on morale,” said Manson on a Friday morning call with reporters. “With that said I would I would point to the fact that we’ve been very clear about the strategy of the firm and very clear about the momentum that we expect.”
In addition to the 20,000 job cuts at the company’s operations, the bank said it will shed 40,000 employees from its Mexican retail unit through an IPO, bringing the total headcount for the company to around 180,000 from 240,000.
Over the next few years, the bank said it expects to pay up to $1 billion in severance pay and reorganization costs related to its planned restructuring.
A spokesperson for the US-based lender said the layoffs would be global in scope and declined to break out numbers by region.
Citigroup CEO Jane Fraser first announced her sweeping restructuring efforts last September. Her plans to rearrange the bank’s leadership, increase accountability and boost the share price, she said, would require a leaner staff.
“We’ll be saying goodbye to some very talented and hard-working colleagues,” Fraser wrote at the time.
Citibank is one of the oldest international banks in Nigeria.
CNN
Dangote Refinery To Load 2900 Trucks Of Diesel, Aviation Fuel Daily
Dangote Petroleum Refinery says it has the capacity to load 2900 trucks daily from its petrochemical refinery in Lagos.
The company disclosed this on its official X handle on Saturday morning saying full operation has commenced at the refinery.
According to the group, all the products from the multi-billion dollar refinery will conform with international standards.
Already, the refinery has started the production of diesel and aviation fuel after receiving 6 million barrels of crude oil from the Nigeria National Petroleum Corporation Limited, NNPCL.
The refinery is planning to “load 2,900 trucks a day at its truck-loading gantries,” one of the series of messages posted on its X handle said.
“The products from the Refinery will conform to Euro V specifications. The refinery design complies with the World Bank, US EPA, European emission norms, and DPR emission/effluent norms,” the group said in another message.
The group expressed appreciation to the federal and Lagos state governments for making the ‘dream’ of Africa’s Richest Man, Aliko Dangote to own one of the biggest refineries in the world come true.
“We thank President Bola Tinubu for his support and for making our dream come true. This production, as witnessed today, would not have been possible without his visionary leadership and prompt attention to details.
“This is a big day for Nigeria. We are delighted to have reached this significant milestone. This is an important achievement for our country as it demonstrates our ability to develop and deliver large capital projects. This is a game changer for our country,” Dangote said.
According to energy experts, the 650,000 barrels per day capacity Dangote refinery have the capacity to meet 100 per cent of Nigeria’s requirement of all refined petroleum products including petrol, diesel, kerosene and jet fuel, and also has a surplus of each of these products for export.
The refinery has yet to start the production of Petroleum Motor Spirit, PMS also known as petrol.
Supreme Court Judgements On Gov. Election Show Independence Of Judiciary – APC, Demands Apology From PDP
By Ayodele Oni
The All Progressives Congress (APC) has reacted to the Supreme Court Judgements on the 2023 Governorship election in the country, which it said further affirmed independence of the judiciary.
APC stated that it welcomed, with equanimity, the Supreme Court decisions on election petitions challenging the outcome of 2023 governorship elections in eight states.
A statement by Felix Morka, APC spokesman stated that “In Lagos, Ebonyi and Cross River States, the Supreme Court upheld the election of Governorship Candidates of our great Party. However, the appeals on Kano, Zamfara, Bauchi, Plateau and Abia states were decided in favour of other political parties and their candidates.
“While the Apex Court’s decisions will undoubtedly elicit mixed reactions and reviews, the decisions are final and binding on all parties to the legal contests.
“The decisions today provide a strong affirmation of the authority, vibrancy and independence of the Judiciary.
“APC has been consistent in its position that the Judiciary must be left alone to perform its important duty of resolving disputes, including electoral disputes, as constitutionally mandated.
“The decisions today must serve as a rebuke to political opposition figures that vilified and denigrated our courts when judgments were handed against them in these same matters.
“Assuming that it has any spec of decency left, the Peoples Democratic Party (PDP) must tender unreserved apology to the courts and our judges for the senseless, irresponsible, reckless and unjustified attacks it mounted against the Judiciary throughout this electoral cycle.
“We congratulate the winners, particularly our Governors, Babajide Sanwo-Olu of Lagos State, Francis Nwifuru of Ebonyi State, and Bassey Otu of Cross River State, and wish them the very best as they continue to serve their states and country.
“We urge everyone to remain calm and continue to maintain the peace.”
Tinubu Tasks APC Governors On Unity, Programmes Of National Interest
By Ayodele Oni
President Bola Tinubu has reminded Governors elected on the platform of the All Progressives Congress (APC) that the major task before the ruling party is unification of Nigeria.
Tinubu who met with the Progressives Governors in Abuja on Friday, implored them to design and implement policies that prioritize all Nigerians and to always consider the national interest above political affiliations.
President Tinubu, said development policies would only find full relevance in people’s lives when there is inclusivity, ownership, and sustainability.
He told the APC governors that one of the biggest challenges the nation faces was divisiveness, but that the governing party must work towards healing and unifying the country by ensuring a collective national vision, and channelling energy and resources into nation-building.
Tinubu pointed out that Nigeria is blessed with human, natural, and material resources to be struggling with a dearth of quality infrastructure, quality education, and world-class health facilities and therefore assured that the entire financial system of the country would be re-engineered for inclusivity, effectiveness, and efficiency.
“We have no reason to be poor. Looking back on where we are coming from, where we have been, why we are facing infrastructural decay, a lack of quality and comprehensive education, as well as a lack of health facilities. We are not a cursed country, but blessed.”
The President tasked the governors to come up with a framework that would make the implementation of the school-feeding programme more comprehensive and successful across all states of the federation, taking into consideration the peculiarities of each locality, but working towards having all children in school.
“We have children of school age who are out of school. The way to promote education is to get all governors, including the opposition governors, involved in the school-feeding programme.
“Please, take it seriously. We should not measure the children as statistics. We should measure their return to classrooms as our achievement. We should see economic growth in terms of value and empowerment. We should set up a committee to look into the methods. I am ready to invest in school feeding.”
On security, Tinubu said the deployment of forest guards was being considered, with better training, modern technological gadgets and weapons to strengthen security, and that the solid mineral and marine economic sectors will also be secured by special police.
“We have a big marine economy, and I do not see why we should not have the marine police. We will have the same in solid minerals to keep the scavengers away.
“I am ready to invest in security. We will buy our own minerals and keep them in reserves, especially gold, which will be effective in our foreign exchange reserve.”
Earlier, Governor of Imo State and Chairman of the Progressive Governors Forum, Hope Uzodinma, thanked the President for involving governors in the design and implementation of policies, as well as for intervening with financial support in the states.
“We will continue to support you as your able ambassadors, willing ambassadors, and capable ambassadors.”
President Tinubu Halts Programmes Under NSIPA For Six Months
By Ayodele Oni
Following ongoing investigation into their operations, the Federal Government has suspended all programmes of the National Social Investment Programmes Agency (NSIPA).
This was contained in a statement by the Director of Information in the office of Secretary to Government of the Federation, (SGF), Segun Imohiosen.
The suspension, according to the statement, also included the NPower programmes.
The statement reads: “President Bola Ahmed Tinubu, GCFR, has suspended all administered programmes by the National Social Investment Programme Agency (NSIPA).
“This is further to the ongoing investigation of alleged malfeasance in the management of the agency and its programmes.
“All four (4) Programmes administered by NSIPA, viz; N- Power Programme, Conditional Cash Transfer Programme, Government Enterprise and Empowerment Programme and Home Grown School Feeding Programme (the “Programs”) have been suspended for a period of six (6) weeks in the first instance.
“President Bola Ahmed Tinubu has also raised significant concerns regarding operational lapses and improprieties surrounding payments to the Programs’ beneficiaries.
“He has therefore constituted a ministerial panel to conduct a thorough review of the Agency’s operations with a view to recommending necessary reforms of the NSIPA.
”During the period of this suspension, all NSIPA-related activities, including but not limited to all distributions, events, payments, collaborations and registrations are now frozen.
“The President wishes to assure the stakeholders and all Nigerians that his administration remains committed to a swift and unbiased process that will ensure that, going forward, social intervention programmes will work exactly as intended, to the benefit of the most vulnerable Nigerians.”
This development followed the suspension of Halima Shehu as the chief executive officer (CEO) of the National Social Investment Programme Agency (NSIPA) by President Bola Ahmed Tinubu.
Shehu, recently screened and confirmed by the Senate, is accused of financial malfeasance.
Shehu oversaw the Conditional Cash Transfer Programme initiated by former President Muhammadu Buhari to assist vulnerable groups and individuals.
She is reportedly being investigated by the Economic and Financial Crimes Commission (EFCC).
Zamfara: Wild Jubilation Greets Governor Lawal’s Supreme Court Victory
By Akinwale Kasali
Wild jubilation by supporters and members of the Peoples Democratic Party, PDP, greeted the declaration by the Supreme Court of Governor Lawal Dauda as the duly elected Governor of Zamfara State.
Lawal of the People’s Democratic Party, was declared the winner of the March 18 Governorship election. But the then incumbent Governor, Bello Matawalle of the All Progressives Congress, APC, now the Minister of Defence, and Lawal went upto the Supreme Court for the final verdict.
The Court of Appeal which sat in Abuja had, on November 16, 2023, sacked Dauda following an appeal filed by Matawalle.
Recall that the Independent National Electoral Commission (INEC) had after the March 18 governorship poll declared Dauda as the governor-elect, after he garnered 377,726 votes.
The incumbent Governor at the time, Matawalle, secured 311,976 votes.
Bello approached the Zamfara State Governorship Election Petition Tribunal Sokoto, with a petition against Dauda’s election.
Matawalle’s legal team led by Akinlola Kehinde alleged wrongful collation of election results, including those of Maradun LGA.
He also argued that elections were not held in several wards in the state without any reason given by INEC.
But the Tribunal affirmed Dauda’s election and dismissed Matawalle’s appeal for lacking in merit.
After losing his second term bid, Matawalle was appointed as Minister Of State, Defence, by President Bola Tinubu.
But he went on to appeal the verdict of the Tribunal, arguing that Dauda did not score the majority of lawful votes cast during the governorship poll and that the election was inconclusive.
He contended that the Tribunal erroneously struck out evidence tendered by his witnesses including several paragraphs in his petition.
But the PDP countered Matawalle, contending that he failed to prove his petition against Dauda’s election victory.
A three-man panel of the Appeal court led by Justice Oyebisi Folayemi, declared: “It is our view that the order of the Trial Tribunal striking out several paragraphs of the appellants petition was erroneous.”
On the tribunal striking out the evidence (PW1 and PW17) tendered by Matawalle as hearsay, the appellate court held that it was evidently seen from the polling units results used by INEC that the result sheets were not signed by party agents of the appellants.
More so, the Appeal Court held that the evidence of Matawalle’s two witnesses (LG collation agents), contrary to the Tribunal’s position, are linked to the specific aspects of the appellants case.
The Appeal court maintained that in line with the Electoral Act, it shall not be necessary for a party who alleges non compliance with relevant laws, to call oral evidence if their exhibits show the same allegations.
The Appeal Court observed that the documents INEC relied on to declare results in Maradun LGA were mutilated, and as such, the same exhibits tendered by Matawalle before the Tribunal were not hearsay evidence.
“This Court resolves this issue in favour of the appellants.,” the court held.
The Appeal Court further held that the tribunal failed to properly evaluate the evidence brought before it and that the appellants placed credible evidence before the tribunal.
The Court subsequently held that the appellants successfully proved that Dauda was not duly elected, and that the INEC Results Viewing Portal(IREV) cannot be used in collating results as done by the Tribunal.
“This appeal is hereby allowed.
“The March 2023 Governorship election held in Zamfara State is inconclusive and the return of Dauda is set aside.
“INEC is hereby directed to hold fresh elections in Maradun, Birnin Magaji and Bukun Yum LGA,” the appeal court held.
But reading the lead judgment on Friday, Justice Agim Emmanuel, held Matawalle’s legal team never tendered its duplicate copies of the INEC Forms EC8A in dispute, yet the Court of Appeal erroneously held they provided evidence.
He observed that the certified copy of the polling units results in dispute did not show any form of overvoting.
Emmanuel held that the Tribunal was right while the Appeal Court’s decision on the Governor’s election was “perverse”.
The Judge held that polling units and ward results supported the results as declared by INEC.
“The appeal has merit and is hereby allowed,” Emmanuel said while setting aside the judgment of the Appeal Court.
Fencing Nigeria’s Forest From Desert Encroachment Under Threat By Bandits – FG
By Ayodele Oni
The Federal Government has admitted that the menace of the bandits and kidnappers, in almost every forest, is a threat to the Great Green Wall project aimed at fencing the Country from desert encroachment.
The Minister of Environment, Balarabe Abbas Lawal, stated that bandits have taken over the Nigerian forests to terrorize the people.
He, however, assured that the Government was planning to flush out the criminals and get rid of them without delay.
The Minister made the remarks in Kaduna, at the two-day top management retreat, organized by the ministry assuring that security forces would be deployed to flush out bandits and kidnappers responsible for insecurity in those hidden places.
He explained that though Park Rangers and some Forest Guards were put in place, they were not enough to tackle the bandits and other criminals.
At the retreat themed: “Policy Embedment and Prioritization of Key Action For a Renewed Hope in Environmental Management” were the Minister of State for Environment, Directors in the Ministry, heads of agencies under the Ministry, and resource persons.
Lawal stated that “We have a very serious issue with our forests; our forests have become hibernation grounds for bandits, poachers and kidnappers. So, the only way we can save the forests and save our communities is to do something very drastic about it.
“We need to get enough force into the forests to clean them of these miscreants that have turned our forest into something else. So, we are on it. We have similar issues in oil areas and mining sites.
“Government will come up with a very strong measure of trying to get enough forces into the forests and flush these people out because if we don’t do that, there is no way we are going to make progress in our great green wall, where we have invested a lot of money in trying to fence Nigeria from the encroachment of the desert.
“We already have Park Rangers and some Forest Guards, but they are ineffective because the boots on the ground are not enough to tackle the challenges we have.
“They don’t have enough force to confront the bandits and the rest of them. We have started doing something about this, that is why I visited the Minister of Blue Economy two days ago because they are also talking about the issue of Coastal Guards, taking a queue from what Americans did when they were bedeviled by piracy in the 16th and 17th centuries.”
He pointed out that the retreat underscored the significance of the National Climate Change Policy and the pivotal role it plays in shaping the participants’ collective efforts at addressing the challenges.
“To accelerate Ogoni Clean up, participants of this retreat need to brainstorm on strategies to increase government commitment and support, improve capacity building, enhance monitoring and evaluation, create public awareness as well as, explore various conflict resolution mechanisms, and international collaboration in Ogoni Land.
“Reclaiming brownfields and greyfields into sustainable livelihood support system across the country, we collectively have to think of ways to do this through environmental restoration, economic development, and community well-being.
“This retreat should explore means of easily identifying, assessing, and mitigating the potential environmental and social impacts of all proposed projects before it is approved and implemented
“We should devise means to implement an economic system designed to eliminate waste and promote the continual use of resources.
“We should also ensure safe deployment of modern biotechnologies and new breeding techniques in agriculture, through consideration of the involvement of a combination of regulatory oversight, scientific scrutiny, and public engagement.”
Ondo Police Nabs Hotelier, ‘Side Chic’ Over Socialite’s Death
By Ayodele Oni
Ondo State Police Command has announced the arrest of a ‘side chic’ and an hotelier over the death of an Akure socialite, Oladoyinbo Adebayo Sunday.
A Police bulletin on Friday signed by the state command spokesperson Funmilayo Odunlami- Omisanya, explained that the deceased and female suspect were into an affair before his death.
The statement stated that “On the 10th of December 2023, the corpse of one Adebayo Popularly called Saybayo was found abandoned in his car within Ijapo Estate Akure.
“The SWAT team through intelligence led policing, apprehended one Atinuke Adeniyi ‘f’ aged 29years who claimed she and the deceased were involved in a romantic affair.
“That on the 9th, a day before the corpse was dumped, she and the deceased made out at a brothel in Ijapo, after which the deceased started convulsing and out of fear she abandoned him and quietly left the room.
“The suspect led the police team to the brothel where one Adeojo Ilesanmi aged 50 years, the owner of the brothel was arrested.
“He confessed to have driven the corpse to the scene where it was found from his brothel with claims that he was afraid when he realized the deceased died in his brothel.
“Investigation is still in progress while suspects will be charged to court at the conclusion of investigation.”










