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FG Plans N750 To $ By December

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The Chairman of the Presidential Tax Reform committee, Taiwo Oyedele, has disclosed that the federal government is planning to ensure that N750 is exchanged for the dollar by December this year.
Recall that Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, said last week that the federal government is expecting $10 billion Forex injection to clear the current backlogue responsible for the volatility being experienced in the market.
Not a few market analysts insist that this is impossible considering the current volatility in the Forex market which has pushed up the value of the American currency in both parallel and I & E windows.
The Nigerian currency reached its lowest point last week after the dollar was traded for N1, 350 at the parallel market.
But the tax reform boss told Bloomberg that plans are in the offing to ensure that naira gained to N750 to the dollar within two months.
According to Oyedele, the plan includes
a crackdown on illegal currency trading, to reduce the 45 percent gap between the official and black-market rate the dollar is sold in the country.
He explained that the government would also clear backlogs of dollar demand estimated at around $6.7 billion, bolster the naira forward market, and set transparent rules for the operations of the official market.
The federal government also aims “ to expand the official market to include all legitimate transactions, while snuffing out the illicit “black market” for foreign currency, “ he said.
Oyedele also said, “We think all of that will happen before December, and maybe in a matter of a couple of weeks we will begin to see the results, such that before the end of the calendar year, naira should find its true value, not the one that is being done currently in the parallel market “
Edun had while responding to the falling value of the naira to the dollar said
 the country was expecting about $10bn inflows in the nearest term, which would help to clear foreign exchange backlog and stabilise the naira

Atiku Remains One Of The Worst Examples Of Kleptocracy In Africa –  Presidency

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In a stinging response to the Press Conference addressed by the Candidate of the Peoples Democratic Party, PDP, Atiku Abubakar, on the Supreme Court Judgement which affirmed the victory of President Bola Tinubu over him,  the Presidency, in a statement signed by Bayo Onanuga, Presidential Special Adviser on Information and Strategy, advised Atiku to just “go away” because his Presidential ambition is forever doomed.

Former Vice President and Peoples Democratic Party Presidential candidate in last election, Alhaji Atiku Abubakar, unraveled on Monday at a press conference in Abuja where he finally found his voice after more than 96 hours to respond to his trouncing at the Supreme Court in a landmark judgment on his grossly incompetent election petition appeal.

We were wrong to expect that Atiku at 77 would play the statesman and sportsman and accept, with equanimity, the verdict of the highest court and the people of Nigeria.

Instead, he unashamedly constituted himself into a demagogue and anarchist in the way and manner he sought to pull down and delegitimize all the institutions of State, all in a futile bid to achieve what he could not get via the ballot box.

At his press conference where he laboured, in vain, to once again manipulate public opinion and blame the judiciary for his self-inflicted defeat in the 25 February Presidential election, Alhaji Atiku launched a diatribe against the Independent National Electoral Commission (INEC) and judiciary, particularly our apex court, for not bending the law and the constitution to satisfy his whims and caprices.

Atiku tried very hard to perfect his act of misinformation by seeking to lay claim to faux morality and higher ideals when in actual fact his entire life is antithetical to any higher ideals.

For instance, Atiku claimed he worked along with others to end military rule in Nigeria when he was known to be in bed with the same junta who held democracy hostage and incarcerated his mentor, Major-General Shehu Musa Yar’Adua (rtd), till death. He distanced himself from him while in detention to keep alive his governorship ambition on the platform of one of those inglorious Abacha political parties.

Atiku’s brand of politics is such that once an electoral process or election does not go his way or pave the way for his victory, democracy becomes dysfunctional and must therefore be imperiled. For him, democracy should either go his way or the highway.

The PDP candidate was uncharitable and pugnacious in his choice of words and his view about Nigeria. We can only imagine the level of frustration that could make a former Vice President of Nigeria to hold such pessimistic view of a country where he once occupied the second highest position. The PDP candidate said Nigeria is doomed just because he failed to achieve his personal ambition.

We want to tell Alhaji Atiku this: Nigeria is not doomed. It is only Atiku’s inordinate ambition to be President that is doomed. Nigeria is moving forward and set to achieve its manifest destiny as one of the most respected and successful nations of the world under the leadership of President Bola Ahmed Tinubu.

Contrary to Atiku’s gloomy submission on our democracy, we are excited to tell the world that our democracy is thriving and blossoming. It is the reason, for the first time, since 1999 the character of our National Assembly and its outlook reflect the diversity and plurality of the choices and preferences of voters as a rainbow coalition of different parties as opposed to the practice in the past where just two parties dominated the national parliament.

In today’s Nigeria, votes count. No amount of deliberate distortions of facts about our recent election by Alhaji Atiku and his partner, Peter Obi can vitiate the continuous improvement of our electoral process which local and international observers have hailed. As declared by the Supreme Court, IReV was not designed as an online collation centre. It was simply a public viewing centre for results.

PDP and Atiku, including Peter Obi’s faction of Labour Party cannot continue to insist on their own reality against commonsense, logic and the law.

Atiku and his army of hirelings knew why they lost the election. The PDP candidate lost because Nigerians preferred Bola Ahmed Tinubu and voted for him to be president. Tinubu, along with his APC, won because he offered a better vision for our country’s future. The All Progressives Congress as a united and formidable party which ran a well-coordinated campaign with his rank and file intact.

Atiku lost because he went into a major election with a fragmented and tattered umbrella that could not hold together. There was no way Atiku and PDP could have won the election with the party platform under which he contested broken into four parts. If Atiku was not harboring a delusion of grandeur, we wonder how he could have envisaged any possible pathway to victory with Mr. Peter Obi’s Labour Party, Dr. Rabiu Musa Kwankwaso’s NNPP and PDP G-5 Governors who took away possible PDP votes, while the APC went into the election as a strong, viable and unified entity.

Alhaji Atiku Abubakar claims he loves Nigeria and embraces “integrity” so much. We found such claim to be sheer hypocrisy as Atiku remains one of the worst examples of kleptocracy in Africa. The US Congress lists Atiku’s money laundering as one of the very rare cases of corruption at the highest level of governance in the world.

His avarice sent congressman William Jefferson to jail after the FBI busted a bribery scandal in which Atiku was involved from head to toe and for which he was marked down by the U.S. agency.

Now as we get to the proper business of governance after Atiku’s unwarranted distraction, we have picked some clear lessons going forward. One is that our institutions must be strengthened on diligent and sturdy wings, enough to withstand and identify from afar rabble-rousers who masquerade as statesmen.

Second, our institutions must also ensure that corrupt, desperate, self-serving serial losers should not have a space in our democracy. Because if they don’t win the battle, they might burn the nation.

We want to advise Atiku that after over three decades of elusive bid for the Presidency of Nigeria, he must now end his unprofitable bid and go away from any venture that will further pollute the political atmosphere and national harmony.

Bayo Onanuga
Special Adviser to the President on Information & Strategy
October 30, 2023

Rivers Crisis: Gov Fubara Must Be Respected- Sen. Abe

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Senator Magnus Abe has reacted to the attack on Governor Similaye Fubara by the police on Monday.

Governor Fubara had alleged that he was fired at and teargassed by some police officers while on an inspection visit to the State House of Assembly earlier today.

The governor visited the Assembly few hours after some lawmakers tried to impeach him.

The political crisis rocking the oil rich state has been blamed on the struggle for the control of the soul of the state by the governor, and Nyesom Wike his predecessor, now FCT minister.

It was on Wike’s back, we recall that Governor Fubura rode to the prestigious office that he now occupied, but the duo appears to have gone their separate ways.

On Monday, the clash between supporters of the two leaders led to the attack on the governor, as some riot policemen tried to disperse the crowd with teargas.

The governor said he was a major target for assassination.

Reacting, Abe, a governorship candidate of the SDP in the governorship election said Fubara must be respected, because there cannot be two governors in the state.

He condemned the attack on Governor Fubara, stressing that the governor has immunity.

According to the senator,
“As seen in trending videos in the media space, the direct gunshots and tear-gassing on the person of the Governor of Rivers State, His Excellency, Similayi Fubara, who is the Chief security officer of the state, was wrong. This is beyond politics, and I publicly condemn it.

“I am particularly saddened by the destruction of our beloved house of parliament, and a valuable state asset. This is unacceptable.

“I believe that in the interest of the state, the Nigerian police needs to have a deeper conversation with the Governor who is the current Chief security officer and the only Rivers man that currently enjoys constitutional immunity.

“There can be only one Governor at a time, so whatever our political differences, we must look for ways to resolve them without jeopardising the peace and security of our fellow citizens.

“The politics of it all is absolutely of no interest to me at the moment”, he stated.

Obi Mourns Prof Nwabueze, Says Nigeria Has Lost A Patriot And  Father Figure

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Professor Benjamin Nwabueze

The Presidential Candidate of the Labour Party in the February 25, 2023 election, Peter Obi has described the former Minister of Education and a renowned constitutional lawyer, Prof Ben Nwabueze as an uncommon patriot who was a father figure in all ramifications.

Obi in a condolence message to the Nwabueze family and Ohanaeze Ndigbo where he was a Secretary General said Nigeria will miss his wise counsel.

“I am saddened by the death of a very revered Nigerian and a respected father figure, Foremost patriot, Constitutional lawyer, and erstwhile Secretary General of Ohanaeze Ndigbo worldwide, Professor Ben Nwabueze, SAN.

“Prof Ben Nwabueze was a seasoned academician, thoroughbred administrator, and experienced politician. An uncommon jurist and scholar, Prof Nwabueze was Nigeria’s first academic Senior Advocate of Nigeria.

“He was also the former Minister of Education and Youth Development.

Obi noted that as a father figure, whose desire for a great Nigeria was well known,  Prof Nwabueze remained supportive of me in my political journey.

“Throughout my years as the then Governor of Anambra State, his wise counsel and guidance, added to the success my administration achieved in the State which due considerably to his wise counsel.

I continued to enjoy his cordial relationship and wise counsel even after leaving office.

The LP flagbearer recalled how, in 2019, when he was the Vice Presidential Candidate of the PDP, he headed the legal team at the Presidential Election Tribunal, despite his health challenges.

“He was a man who desired justice, peace, and progress in our country.

“While I mourn his irreplaceable loss, I am comforted by his immense contribution to our nation, especially in the areas of education and legal practice, especially his specialization of constitutional law.

Obi finally prayed to God to comfort the entire Nwabueze family and all of us who mourn him and grant him eternal rest.

President Tinubu Set To Present Another N26.1Billion Supplementary Budget To National Assembly As FEC Gives Approval

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Bola Tinubu

By Ayodele Oni

For the second time in the five months of the present administration, President Bola Tinubu is set to present another supplementary budget of N2.1 trillion to the national assembly as the Federal Executive Council, (FEC) ratified the estimates.

At the end of Monday’s FEC meeting, Minister of Budget and Economic Planning, Atiku Bagudu, disclosed to journalists that out of proposed amount, N605 billion would be expended on national defence and security, while about N300 billion would be spent on maintenance of bridges.

Other highlights of the supplementary budget are N210 billion for the payment of wage award to civil servants and N400 billion for cash transfer to vulnerable households.

According to the minister, N100 billion provision was made in the budget proposals as infrastructure support for the Federal Capital Territory (FCT), and another N800 billion for the Independent National Electoral Commission (INEC) to conduct the off season governnorship elections in Bayelsa, Imo and Kogi states.

N8 billion was for the take-off of the newly created ministries such as Ministry of Marine and Blue Economy, according to Bagudu.

“The council considered a request for supplementary appropriation which is a second for 2023 and guide graciously approve the sum of N2,176,791,286,033 as supplementary budget and this supplementary budget is to fund urgent issues including N605 billion for national defense and security.

“This is to sustain the gains made in security and to accelerate these are funds that are needed by the security agencies before the year runs out.

“Equally a sum of N300bn was provided to repair bridges including Eko and Third Mainland bridges as well as construction, rehabilitation and maintenance of many roads nationwide before the return of the rainy season.

“Equally the sum of N200bn was provisioned for seed, agricultural input, supplies and agricultural implements and infrastructure in order to support expansion of production. Equally the sum of N210bn is provided for the payment of wage Awards.

“In negotiation with the Nigeria Labour Congress, the federal government agreed to pay N35,000 each to about 1.5 million employees of the federal government and that amounts from September, October, November and December 2023 and that amounts to about N210bn which has been approved and also N400bn as cash transfer payments.”

Rivers Crisis: Governor Fubara Dissolves State Executive Council

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Governor Siminalayi Fubara of Rivers State

By Charles Igbo

Rivers State Governor, Siminalayi Fubara, has dissolved the State Executive Council – his Cabinet.

The Governor who, not a few people say has just become “his own man” dissolved his Cabinet in the aftermath of the crisis which rocked the State Monday morning.

The State House of Assembly was embroiled in a coup and counter coup which, surprisingly, saw the Governor’s loyalists gain the upper hand.

Some members of the Assembly loyal to former Governor Nyesom Wike, the current FCT Minister had planned to start a move for the impeachment of the Governor Monday morning.

But on Sunday night, political hoodlums detonated explosives in the Assembly Complex. Their identities remain unknown, but there are two versions of who were responsible for the attack on the Assembly Complex.

While one version says it was meant to stop Members of the Assembly from sitting to impeach the Governor, another said it was by those against the Governor whose aim was to destabilise the State.

However, Members said to be loyal to Wike converged on the Assembly Monday morning and suspended those loyal to the Governor, including the Leader of the  Assembly, Honourable Ehie Edison.

Same Monday morning, when the Governor visited the Assembly Complex to assess the damage, he was greeted by gunshots and tear gas, which he said were fired directly at him by those he called “compromised Security Agents.”

In a counter coup, the Governor rallied round his supporters and the fallout in the State have been like claps of thunder.

First, the Speaker of the House, Martin Amaewhule, who was to preside over Fubara’s fate, and who had presided over the suspension of Edison and those loyal to the Governor was impeached and replaced by Edison.

The new Speaker quickly swung into action, suspended the Chief Judge of the State,  suspended Chairmen of Local Councils and the Lawmakers who suspended him and who planned the would-have-been impeachment of the Governor.

Now, the Governor has stamped his authority, fully, by dissolving his Cabinet. The target,  opinion is: Wike’s loyalists.

Rivers Assembly Crisis: New Speaker Suspends Lawmakers Behind Impeachment Plot

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Martin Amaewhule - Rivers State New Speaker

By Ayodele Oni

Newly elected Speaker of Rivers State House of Assembly, Ehie Edison, has announced the suspension of Lawmakers behind the early Monday morning plot to remove the State Governor Siminalayi Fubara.

In his address in Port harcourt, Edison said the affected law makers have fallen short of duties they were elected to perform.

He said “I hope this message finds you in good health and high spirits. Today, I stand before you as the newly elected Speaker of the 10th Assembly of Rivers State House of Assembly, humbled by the trust you have placed in me to lead our great State.

“It is with a heavy heart and a deep sense of responsibility that I address you regarding recent events in our esteemed Assembly.

“As your chosen representatives, we have a sacred duty to uphold the values of integrity, accountability, and dedication to public service.

“Regrettably, it has come to my attention that some members of our Assembly have fallen short of these principles.

“In light of their actions, which undermine the trust and faith you have bestowed upon us, I have taken the difficult decision to suspend the defaulted members from their legislative duties.

“Rest assured, this decision was not made lightly. We are committed to ensuring that the Rivers State House of Assembly continues to be a beacon of hope and progress for all our people. We will work tirelessly to restore your trust in our institution and fulfill the promises we made to you.

“I urge you, my fellow citizens, to remain steadfast in your support for a united and prosperous Rivers State. Together, we will overcome challenges and build a future where honesty, accountability, and transparency prevail.

“Thank you for your unwavering trust and understanding. Let us move forward, hand in hand, towards a brighter tomorrow.”

The Assembly has also sacked all Local Government Chairmen in the State, just as Governor Fubara dissolved the State Executive Council as well as suspended the Chief Judge.

Those affected are said to be Nominees of former Governor Nyesome Wike.

Rivers Crisis: Chief Judge, Hon. Justice Amadi Suspended

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By Charles Igbo

The political crisis rocking Rivers State has extended to the leadership of the Judiciary in the State.

The Chief Judge of Rivers State,  the Honourable Justice Simeon Chibuzo Amadi, was on Monday, October 30th, suspended from office.

Reports from the State said that he was suspended by Lawmakers loyal to Governor Siminalayi Fubara. They also removed Hon Martin Amaewhule as the Speaker of the House and replaced him with the earlier suspended Leader of the Assembly, Honourable Ehie Edison. Governor Fubara has since congregated the new Speaker, his loyalist.

It is not known why the Chief  Judge was suspended from office, but it is obviously a fall out from the struggle for supremacy between FCT Minister, Nyesom Wike and Fubara, his now estranged political godson. Wike installed Fubara as the State Governor.

The State House of Assembly had planned to start an impeachment process on Fubara, but the Governor rallied round and turned it around with the removal of the Speaker of the House, followed by the suspension of the Chief Judge whose job it would have been to set up an impeachment panel.

Rivers Assembly: Governor Fubara Congratulates New Speaker

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Martin Amaewhule - Rivers State New Speaker

By Ayodele Oni

Rivers State Governor Siminalayi Fubara may have succeeded in nipping in the bud the move by the State House of Assembly to impeach him on Monday.

This is just as details of the plot to send the Governor packing only five months into his tenure emerged.

In his X account, on Monday appeared a post: Fubara “congratulates and confirms a new speaker for the Assembly, in person of Ehie Edison. The Governor did not give further detail.

On the cause of the crisis, it was reported that former Governor Nyesome Wike moved against Fubara following his decision to sack Chief of Staff, Chidi Amadi, and Chief Security Officer, Promise Wosu, Wike’s eyes in the River State Government House.

This is expected to be followed by mass purge of Wike’s Commissioner- appointees in Fubara’s Government including Secretary to the State Government, (SSG).

Wike, allegedly, acting through his stooges, wanted Fubara removed at all cost and he hatched a plot through the lawmakers, who are mostly his men.

It was gathered that the Leader of the River State House of Assembly, Elderson Ejie, whose removal along with three others had earlier been announced, fought spiritedly with the Wike men to halt the impeachment move.

Fubara was the State Accountant General during the administration of Wike who annoited him as his successor.

Femi Gbajabiamila Remains My Chief Of Staff – President Tinubu

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By Ayodele Oni

President Bola Tinubu has calmed aggrieved nerves as he expressed his unreserved faith and confidence in his Chief of Staff, Femi Gbajabiamila.

There have been reports, allegedly, linking Gbajabiamila with monetizing appointments and favouring the highest bidders.

The President, who spoke on Monday, just before the commencement of the weekly Federal Executive Council (FEC) meeting inside the Council Chambers, State House, also set the ground rules for the attendance of the meeting.

Tinubu spoke on issues he had observed and had not been comfortable with, including unauthorized persons gaining access into the Council Chambers of the State House.

According to him, “First of all, let me reiterate to all of you the fact that a lot of stories are going around about what is happening. I’ve told everyone in this country that I can make mistakes, they’re bound to air them out and correct them.

“Perfection is that of God Almighty. I have absolute confidence in the integrity of my Chief of Staff. All campaigns of calumny and insinuations should stop, the buck stops here.

“If I make a mistake I’m ready to own up to it and we’re all joining hands to fight corruption and we want to enforce the law along with you.”

Before the commencement of the business of the day, the Council observed a minute of silence in honour of a former member of FEC and one-time Head of the Civil Service of the Federation, Alhaji Adamu Fika, who died last week at the age of 90 years.