Ondo Govt Withholds Grants To Judiciary Over Unfavourable Judgement

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June 24, 2023

By Ayodele Oni

A Senior Advocate of Nigeria, (SAN), Chief Wale Omotosho has expressed surprise over Ondo State Government’s stoppage of running grant to the judiciary following an order by one of the Courts.

Omotosho told newsmen in Akure that: “Judiciary in the State is being punished because one of the Courts ordered a temporary order against the Government account.

“Because of that issuance of temporary order against the Government account, the Court now said that it had been called upon by the Chief Judge that because of the garnishee issue their running grants have been stopped.

“If subject of the litigations is now subject of discussion outside the Court, between Judges and Attorney General, then we should call it bye bye to the judiciary in this country.

“If the Judges’ grants, allowances can be stopped because they are having a matter in their court then bye bye to the independent judiciary.”

He accused the Ondo State judiciary of compromising the course of justice because of the intimidation from the executive arm of government.

Omotosho, who had filed a suit to freeze the account of the State Government, and was struck out by Justice David Kolawole observed that the Judiciary in the State cannot be trusted to dispense justice because of intimidation.

A former Deputy Speaker of the State House of Assembly, Ogundeji Iroju, had through Omotosho filed an injunction on the account of the government for failure to pay judgement debt incurred over the purported impeachment of the former lawmaker.

The State High Court had earlier granted an order to reinstate Iroju as the Deputy Speaker and that his entitlements since the purported impeachment should be paid. The court also granted N10 million as damages to the former lawmaker

Six months after the court order, the judgement has not been implemented, making the former lawmaker through his counsel to file a default order against the account of the government.

The Court presided over by Justice Kolawole however said the order had affected not only the executive arm of government but the judiciary hence the need to strike out the garnishee order.

Infuriated by the order of the court Omotosho, said it was unfortunate that the judiciary could succumb to the intimidation of the executive arm of government instead of upholding the rule of the law.

Zamfara: Organized Labour Excited Over Payment Of Outstanding Salaries, Knocks Past Administration

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Ayodele Oni

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June 24, 2023

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Dauda Lawal - Zamfra State Governor — Governor Dauda Lawal

By Ayodele Oni

Organized Labour Unions in Zamfara State have accused the immediate past administration in the State of deliberately inflicting hardship on workers due to non payment of their salary for four months.

Report indicate that Zamfara State Civil servants received salary for April and May, 2023 after waiting for three months without any pay.

The workers who have not received salaries since March 2023, were paid for only April and May 2023 while March remains pending.

A worker who received the alert today (Friday night) groaned saying “I don’t even know where to start, am I to settle debts or buy food for my children or prepare for Sallah” he lamented while viewing his bank alert.

The State Governor, Dauda Lawal, during an interview with BBC Hausa Service lamented that he inherited almost zero account in the State treasury, hence incapacitated to pay the backlog salaries.

However, the Governor pledged to diversify means to source money by borrowing to settle the workers salaries.

The Nigeria Labour Congress, (NLC) and Trade Union Congress, (TUC) in a statement on Saturday, stated that “On behalf of the Zamfara state civil servants, the two labour centers (NLC and TUC) in the state wish to express their appreciation and gratitude to Zamfara State Government under the able leadership of Governor Dauda Lawal for the payment of April and May salaries.

“The State Civil Servants and Pensioners were subjected to all kinds of hardships as a result of non-payment of their 3 months salaries and pension, which created untold hardships, hunger and uncertainty among them and their families.

“In what can be termed as responsible leadership, in less than a month of taking the affairs of the state, the present administration of Dr Dauda Lawal has salvage the workers by paying the backlog salaries.

“However, the NLC/TUC Leadership of the organized labour in the state urged the state government to also extend the same action to the remaining workers of some ministries that are yet to receive their March Salary.

“We also wish to call on the state government to ensure timely payment of workers Salary as well as pensions and other welfare packages for effective service delivery.”

President Tinubu Leaves France For United Kingdom

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Ayodele Oni

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June 24, 2023

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By Ayodele Oni

With the curtain drawn on the summit for ‘A New Global Financing Pact,’ in Paris, France, President Bola Tinubu has left for the United Kingdom.

Special Adviser, Communications & Strategy, Dele Alake, in a statement, on Saturday stated that the “President on Friday concluded his official trip to Paris, France, during which he had an outstanding participation in a Summit for ‘A New Global Financing Pact’ hosted by French President Emmanuel Macron.

“Aside participating in the Summit where he represented Nigeria well, President Tinubu also held high-profile sideline meetings with fellow Heads of State and Government, Global Business Leaders and Chief Executives of leading multilateral and development finance institutions from around the world.

“The Summit afforded the President the opportunity of projecting, on a global stage, his advocacy for widening the fiscal space, economic justice for Africa as the world accelerates the pace of energy transition, and the urgency of addressing the pressing issues of poverty and climate change.

“President Tinubu, who was initially scheduled to be back in Abuja on Saturday, will now proceed to London, United Kingdom, for a short private visit.

“The President will be back in the country in time for the upcoming Eid-el-Kabir festival.”

Titanic: How Nigeria’s Billionaire, Nwoko, Cheated Death

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Tosin Olatokunbo

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June 24, 2023

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Ned Nwoko Wins Delta North Senatorial District PDP Primary

Ned Nwoko, a Nigerian billionaire has explained how he cheated death by refusing to be part of the Titanic expedition that disappeared recently with all five passengers now dead.

Five crew members, according to the U.S. Coast Guard and the company that operated the submersible, OceanGate Expeditions, were on board the submersible that went missing on June 17, while on an expedition to explore the wreckage of the Titanic in the North Atlantic.

Three businessmen Hamish Harding, Stockton Rush, Shahzada Dawood, his son Suleman and Paul-Henri Nargeolet, a French adventurer and a Titanic expert, who led six expeditions to the ship’s wreckage site have now been certified dead by the US authorities.

Speaking on the disaster that shocked the entire world, Nwoko, the senator representing Delta North, said he was invited to join the expedition by Harding, a long-time friend but had to stay away due to national duties.

His decision not to embark on the trip, he explained, saved him from being among those that died in the ill-fated expedition.

The senator who wrote on his verified Twitter handle said he had once embarked on a similar expedition with Harding, who he described as a lover of adventure to Antarctica.

Nwoko said, “I have lost a very dear friend and business partner, Captain Hermish Harding. We both went on a very dangerous expedition to Southpole Antarctica a few years back. He was a Gulfstream pilot who flew across the world in a record-breaking expedition by the Guinness world record for circumnavigation of the Earth some years ago.

“He descended into the Mariana. He also invited me on his space shuttle last year and this very Titan ill-fated adventure but I was tied down with national duties. Above all, he was a partner on the various research into eradication of malaria in Africa project. He was very enthusiastic about it and always gave his support at every given opportunity.

“His last message to me was this last Sunday when he told me they were ready to dive into the Titanic if the weather permits. He loved adventure and challenges. My heart bleeds for his dear wife and kids who have become family friends over the years. We will surely miss his wealth of experience.”

Meanwhile, James Cameron, Director of the epic Titanic movie, on Friday, blamed the carbon fiber composite construction hull of the doomed OceanGate submersible for its tragic implosion.

He said, “You don’t use composites for vessels that are seeing external pressure. They’re great for internal pressure vessels like scuba tanks, for example, but they’re terrible for external pressure.”

Bank Customers To Submit Facebook, Twitter Handles Under CBN Anti-Money Laundry, Terrorism Regulations

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Tosin Olatokunbo

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June 24, 2023

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Commercial bank customers in the country are required to submit their social media handles and emails to their banks according to the new Central Bank of Nigeria, CBN, due diligence regulations to deepen the identification process in the banking sector.

Under the regulations, the bank customers are also mandated to submit their telephone numbers, and residential addresses, to their banks.

According to those who spoke on the guidelines, customers will be expected to intimate their banks with their Facebook, Twitter, Instagram, Telegram, and other social media handles.

Analysts insist that this is part of the efforts by the apex bank to deepen the CBN Know Your Customer, KYC, framework released last year.

The apex bank disclosed this in its newly released ‘Central Bank of Nigeria (Customer Due Diligence) Regulations, 2023’ document.

The CBN said the regulation is necessary, “To provide additional customer due diligence measures for financial institutions under the regulatory purview of the Central Bank of Nigeria to further their compliance with relevant provisions of the Money Laundering (Prevention and Prohibition) Act (MLPPA), 2022, Terrorism (Prevention and Prohibition) Act (TPPA), 2022, Central Bank of Nigeria (Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation Financing of Weapons of Mass Destruction in Financial Institutions) Regulations, 2022 (CBN AML, CFT and CPF Regulations) and international best practices.

“And enable the CBN to enforce compliance with customer due diligence measures in line with the CBN AML, CFT, and CPF Regulations.”

Under the CBN KYC regulations commercial banks are mandated to use technology to monitor customers’ transactions with a view to preventing financial-related crimes.

“……financial institutions are required to have robust, effective, and efficient AML/CFT solutions with screening tools in place that will monitor the various thresholds. All accounts, no matter how low the transactions or the risks, must be subjected to continuous suspicious transaction monitoring by financial institutions which will determine when incremental KYC requirements need to be provided by the customers,” the CBN said

CBN: Emefiele’s Actions Fueled Insecurity-Tinubu

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James Orji

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June 24, 2023

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The Nigerian financial system became so rotten under the watch of the suspended Central Bank of Nigeria, CBN, governor Godwin Emefiele, according to President Bola Ahmed Tinubu.

President Tinubu took a swipe against Emefiele in faraway France, his first direct attack on the former in the manner he handled the country’s apex bank before he was removed last month.

Tinubu accused the former CBN governor of using the country’s foreign exchange system to enrich a few rich persons while impoverishing a lot of Nigerians.

The president who was speaking with diasporan Nigerians said the system under Emefiele was used to frustrate them from sending home money due to the multiple exchange systems.

He said he has directed security agencies to get to the root of how the CBN was mismanaged under Emefiele’s watch, adding that the development fueled insecurity in the country.

“The financial system was rotten. Few people were making away with our money…that is gone now; the man (Emefiele) is in the hands of the authorities.

“We have security challenges in the country. Maybe that is how they are fuelling insecurity; we have to look at everything. We will change the financial system; it will work for you.”

The former CBN governor was suspended on June 10, 2023, and has since been arrested by the Department of State Services, DSS, which is investigating him for alleged financial impropriety and terrorism-related offenses.

Imo: Angry Ohakim Fires: “I Know Those After Me; I am Committed To Uzodimma; He Is My Bosom Friend”

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The Source

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June 24, 2023

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By Charles Igbo

A former Governor of Imo State, Chief Ikedi Ohakim, has reacted robustly and angrily to the allegation, contained in a publication, that he is leading a revolt against the State Governor, Hope Uzodimma.

The publication had claimed that Ohakim was fighting the Governor primarily because the Governor, allegedly, refused to recommend him for a Ministerial appointment to President Bola Tinubu, did not support him to go to the Senate, and, also, did not support him to be the President-General of Ohanaeze Ndigbo Worldwide.

But, “fiction”, said Ohakim in response to the allegations. Rather, he said nothing could come between him and Governor Uzodimma who he acknowledged as his “bosom friend”, and declared: “I am personally committed to his success.”

He said he knew those behind the publication carried on June 21, 2023, by a national newspaper, and indicted the Reporter who he alleged has a reputation for being used to carry out such unscrupulous businesses.

Said the former Governor: “In the instant case, it is no rocket science for me to know those behind it. I know those who sponsored Mr Uzoaru to write this fiction. But this will, perhaps, be my last open reaction to their shenanigans. Next time, we shall meet in Phillipi.”

Following is the full text of Ohakim’s response:

”My attention has been drawn to a report in the Daily Sun newspaper of Wednesday June 21, 2023 by one Stanley Uzoaru, wherein it was claimed that I am leading a “revolt” against Imo State Governor, His Excellency, Senator Hope Uzodimma over his refusal to support my ‘bid’ for a ministerial appointment under the new administration of President Bola Tinubu.

“The report further claims that I also hold grudges against the Governor for failing to support my earlier bids for the Senate and the office of the President-General of Ohaneze Ndi Igbo.

“Space constraints would not permit to go into further details of the report more so as I believe that it must have been read by many in the widely circulated newspaper.

“Therefore, I think it is simply sufficient for me to state that the report was a figment of the imagination of the reporter and his sponsors.

“Let me also hasten to add that Mr. Uzoaru the reporter who I understand is a free-lance journalist based in Owerri, Imo state, has been used severally in the past by unscrupulous elements in pursuit of political vendetta.

“In the instant case, he merely took up a brief to further a carefully plotted campaign of calumny against me by my detractors and which culminated in the January 2, 2023, attempt to assassinate me, and during which I lost four of my security aides.

“Before now, the same people had sponsored a report in the social media in which I was accused of being the medium through which Governor Hope Uzodimma – the same Uzodimma – channeled a whopping one million dollars to truncate the Governorship Primaries of the Labour Party in Imo State.

“Against this backdrop, let me then state as follows: I do not have any issue, whatsoever, with my Governor, Distinguished Senator Hope Uzodimma, to say the least lead a “revolt” against him.

“Senator Uzodimma is a bosom friend of mine and a trusted politically ally. Apart from that, as a statesman and former Governor of our State, I am obliged to support any incumbent Governor or Administration who is moving in the right direction – at least in the interest of the State and its people. I am, personally, committed to see Governor Uzodimma, whom I have known for upwards of three decades, not only succeed, but also to excel as a Governor. Revolting against Governor Uzodimma would be tantamount to revolting against myself and nobody can revolt against himself. Or, am I that fool hardy to revolt against a fellow whose performance as a Governor has been quite overwhelming, and who is getting accolades daily from the good people of Imo State.

“The report claims that I led my group to a meeting in Anambra state where we perfected our plans. Fortunately for me, I have not been to any part of Anambra state in the last four years for any reason, whatsoever.

“That I am not bidding for a Ministerial appointment under the present administration. But even if I am, am I not intelligent enough to know that Ministerial appointments are not secured through leading or participating in a revolt against a sitting Governor or anybody whatsoever. Besides, Ministerial positions are not bided for neither are they contested for.

“In any case, the report under reference claims that among the people I am said to be leading in the revolt is “a popular politician from Okigwe zone…” who is also bidding for a Ministerial appointment. So, how can I be bidding for a Ministerial job and at the same time leading another fellow from my zone (Okigwe) to bid for the same thing? Am I that naïve?

”I decided to abort my Senatorial bid the other time entirely on my own volition after taking certain things into account and for reasons that had nothing to do with Governor Uzodimma.

“It is, however, interesting to note that in the report under reference, an allusion was made to “those powerful forces” in my zone “still there to scuttle other ambitions he may have”.

“The point, therefore, is that if there are, or were “powerful forces” that scuttled my senatorial ambition, and I know them, I couldn’t at the same time be holding the governor responsible.

Therefore, the allusion to “powerful forces” against me is an inadvertent admission that it is the same powerful forces that are behind the fictitious report under reference.

“I never nursed the ambition of becoming the President-General of Ohanaeze Ndigbo. It is common knowledge that I was at the forefront of the move to stop some unscrupulous elements from truncating the January 2021 Ohanaeze election that ushered in the immediate past President-General, the late Professor George Obiozor. I personally took a Court action against the decedents. The issues are yet to be completely resolved, and if anything, I see myself better working from the outside to ensure that every crack in Ohanaeze is smoothened.

“The report alluded to a “dying political career” apparently in reference to me. My dying political career? Nothing can be more fallacious. My political career, which started in 1979, is currently at its peak. My political career has taken me through being a Party Executive,

State commissioner, Chairman of Nigeria’s National Gas Masterplan, a Director of Kaduna Refining and Petrol Chemical Company Ltd, a State Governor, etc.

“At the risk of sounding immodest, I can state without any fear of contradictions that it is not possible to draw a list of one hundred successful Nigerians – in a country of more than 200 million people – and Ikedi Ohakim is not there.

“It is nothing but the figment of the imagination of the author of the report and his sponsors to say that my political career is dying. My political career cannot die.

“My political career is alive and is kicking.

“Here in Imo State, I am the only former Governor who can walk the streets of Owerri and get applause.

“Let me state that this rebuttal is not aimed at getting even with the young reporter who, by all indications, is merely struggling to eke out a bare existence.

“I have been meant to understand that his only defense is that he made no mention of my name in his report, but his reference to a “former governor from Okigwe zone” needs no further explanation since I am the only living former Governor from that part of Imo state.

“Even though I have made my feelings known to the Management of Sun Newspaper he is stringing for, my major interest is to seize this opportunity to once again join in cautioning against the penchant of our people, Ndigbo, to self destruct(Nshiko mentality).

“We drag each other down. We destroy ourselves whereas other sections of the country try to support each other for the good of the generality of their people.

“I am, of course, not the only victim, but I have personally come to the conclusion that I will henceforth do everything in my powers to stop any attempt from any quarters to damage my reputation.

“In the instant case, it is no rocket science for me to know those behind it. I know those who sponsored Mr. Uzoaru to write his fiction but this will perhaps be my last open reaction to their shenanigans. Next time, we shall meet in Phillippi.”

Asari Dokubo: Tension, Anger Rise Over His Threat Against The Igbo

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The Source

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June 23, 2023

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By Gideon Njoku

The tension is so thick a knife could cut through it. And so is the anger. Both stemmed from one of the reckless statements made by a Leader of the Niger Delta Militants, Asari Dokubo.

Dokubo had, especially, recently, developed diarrhoea of the mouth with very offensive and obscene statements targeted against the Nigerian Military, and especially, the Igbo.

While he dismissed the Military – the Army and the Nigerian Navy – as Oil thieves, he also dismissed the whole of the Military as cowards, claiming responsibility for securing the Abuja-Kaduna express way and some States in the South. He claimed to be the person providing security in all of the areas he mentioned.

Inexplicably descending on the Igbo, he threatened he could kill all of them, and if he had his way, would be selling them into slavery as, according to him, his forefathers did.

In response, a couple of Igbo historians has put a lie to Dokubo’s claim, insisting that Dokubo, indeed, is Igbo as his forefathers were Igbo slaves.

Dokubo’s provocative statements, for the records, were made after he visited President Bola Tinubu at the Presidential Villa for a closed door meeting.

Not a few Nigerians are, at once, shocked and taken aback by Dokubo’s brazen insults at the Military and the Igbos. But more shocking to them is the collective silence of Security Agencies to Dokubo’s atrocious utterances, and, more especially, as in the video, he was flaunting an AK47 Rifle and other high calibre weapons.

The silence of the Igbo Leadership, as represented by the Governors and Ohanaeze Ndigbo also has also surprised watchers of the dangerous situation and threat.

However, a Nigerian of Northern extraction, Alhaji Faruq Musa Muhammad, an Abuja based business man and Chief Executive Officer of Dattijo Multi-Purpose Business, outraged by Dokubo’s threat to kill the Igbo, has petitioned the Acting Inspector-General of Police, Kayode Egbetokun, against Dokubo.

The petition, dated 21st June, 2023, is entitled, “FORMAL COMPLAINT AGAINST ONE MR. ASARI DOKUBO FOR THREATENING OUR NATIONAL SECURITY AS HE WAS SEEN IN A 1 MINUTE 30 SECONDS VIDEO CLIP: ILLEGALLY SHOWING UP HIS AK 47 RIFLE WHILE PROMOTING VIOLENCE AND CIVIL WAR IN NIGERIA AS HE WAS ALSO SEEN CONDEMING AND THREATENING IGBO PEOPLE WITH THAT AK 47….”

Also, the Youth Wing of the Ohanaeze Ndigbo, numbed in shock at Dokubo’s utterances, has given the Department of State Services, DSS, a 48-hour ultimatum to arrest Dokubo over his threats to kill the Igbo.

Alhaji Muhammad’s petition to the IGP reads:

“Sir, I am writing you this formal complaint as a concerned and patriotic Nigerian who always has a zeal and motivation of making our Dear Country, Nigeria a better place as I have soundly and reasonably learned that Mr Asari Dokubo is presently plotting to create the breakdown of law and order in our society.

“Please find the attached of a disk (marked as Exhibit: A) Containing the said 1 minute and 30 second video clip: where Mr Asari Dokubo was seen wearing a red T-shirt, speaking in pidgin English as he partly, says: “…..you (Igbo people) will do video to sell that Alhaji (Dokubo Asari) has run away, you dey see me: I don’t run….”

“Then at this point he picked up an AK 47 Rifle from his left side-indicating that he’s ready to face them (Igbo people) with that weapon.

“Presently, the video is trending on the social media platforms and it’s sending a wrong message against our National Security: because Mr Dokubo was trying to send a message to the general public that he is above the law.

“Here, I want the Inspector General of Police to send an “Open Invitation Letter” to Mr Dokubo Asari and ask him to report to the Nigeria Police Force so that he would clear himself on that video clip. And if the policemen have found him, breaking the law of the land in respect of that video, thus I want him to be charged to the court of law please. Thank you.”

The 48-hour ultimatum, given by the Ohanaeze Ndigbo Youth Council, signed by its National President, Comrade Igboayaka Igboayaka, reads as follows, in part:

“Recall that in a recent video clip that has gone viral on social media, the notorious ex- militant, Asari Dokubo was seen threatening to kill, exterminate and murder all Igbos wherever they are found just few days after being hosted, at Aso Rock villa, by President Bola Ahmed Tinubu.

“As we have waited patiently after 48 hours of Asari Dokubo’s threats to kill the Igbos with fierce ambition as displayed in the said viral video with AK-47 riffles, it is most unfortunate that the said Asari Dokubo is yet to be apprehended and/or prosecuted by the State Security Services (DSS).

“Without mincing words, Ndigbo are quite convinced that Asari Dokubo’s visit to Aso Rock villa is an orchestrated meeting to further the ugly marginalisation of the Igbos and subsequently stamp them out of existence as well as ensuring that every “perceived political opponent” is eliminated,” Igboayaka revealed.

“It’s obvious that the effrontery and/or the boldness of Asari Dokubo to have threatened the Igbos while brandishing hard military wares and/or weaponry like Ak-47 rifle is clearly smacked of a strong secret approval of Mr. President Bola Ahmed Tinubu.

“The above is a vivid signpost to a secret agenda by Mr. President against the Igbo Christians through the clown called Asari Dokubo.

“In our experience and to our knowledge that Asari Dokubo is a muslim like Mr. President, Bola Ahmed Tinubu and the fears of muslim-muslim tickets by the Christians is, actually, for the avoidance of elimination of Igbo Christian which Mr. President, instead of assuaging such fears, has rather commissioned Asari Dokubo, with all the paraphernalia and/or requisite protection of the federal government, to intensify the fears and murder the Igbos, Comrade Igboayaka asserted

“If Ndigbo wait for another 48hrs without Asari Dokubo being arrested and/or prosecuted for acts of terrorism and be jailed, Ndigbo would be constrained to have no other options than to gather all forms of sophisticated weaponry for their self-defence to avoid being stamped out of existence in their prime by agent of darkness called Asari Dokubo at the support and/or behest of President Bola Ahmed Tinubu.”

There has been no response either by the Presidency or Security Agencies.

Tinubu’s France Trip Good For Nigeria, Africa – Prof Bolaji Akinyemi

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Ayodele Oni

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June 23, 2023

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By Ayodele Oni

Reactions have continued to trail the first international engagement of President Bola Tinubu since his inauguration on May 29, 2023.

The President is presently in Paris, France, where, along with other world leaders, attending a high level Summit for New Global Financing Pact.

A former Minister of Foreign Affairs, Prof Bolaji Akinyemi, described the outing as good for the country and lauded President Tinubu for his presence at the Paris Summit.

Akinyemi who spoke during an interview on Arise TV. said it is a signal that Nigeria is ready and prepared for real business.

The President had told investors on Thursday in Paris that ongoing reforms, including the removal of fuel subsidy and unification of exchange rate, will be sustained for a more competitive economy that attracts Foreign Direct Investment (FDI).

“We are ready for business, prepared to welcome investments,’’ he said, while receiving President and Chairman of the Board of Directors of African Export-Import Bank (Afrexim), Prof. Benedict Oramah; and President of European Bank for Reconstruction and Development (EBRD), Odile Renaud–Basso, in separate meetings, on the sidelines of the Summit for New Global Financing Pact.

Tinubu also assured the delegation of Afreximbank Executives that the Federal Government will continue to stimulate the economy with policies that support investments in areas of Nigeria’s competitive advantage, particularly agriculture.

In his analysis, Prof Akinyemi revealed that most of these organisations are interested in Nigeria due to the economic policies detailed by the Nigerian President, as evidenced with his actions in the first few weeks of his tenure.

“There is no doubt that the World Bank and the IMF need to be restructured in order to reflect responses and issues facing the world economies.

“There is a need for a new school of thought. I am glad for the presence of Tinubu because this signals that Nigeria is back.

“All these organisations such as AfriExim show that they are interested and vested in Nigeria.

“He must have showed them the economic policies to be instituted; it was a good outing for Tinubu and for Africa, at large.”

Consumers Will Suffer Increase In Electricity Tariff- MAN

By

James Orji

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June 23, 2023

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Consumers will bear the brunt if the federal government goes ahead to increase electricity tariffs, according to the Manufacturers Association of Nigeria, MAN.

The warning comes a few days after the government proposed raising tariffs paid on electricity by 40 percent.

The increase is to commence on July 1, the government said.

But speaking to the News Agency of Nigeria, NAN, the Director General of MAN any increase in tariff will lead to higher costs of production, lower profit margins, a decline in manufacturing activities, and downward revenue remittances to the government.

He explained that manufacturers are already spending huge amounts on sourcing alternative energy, noting that close to N145 billion was spent in 2022, an increase of 87 percent as compared to the N77.22 billion spent in 2021.

What the government should be doing, he said, is to increase investment in critical infrastructure in the power sector to make energy more available at a low cost.

According to him, “Already, we have power constituting between 28-40 percent in the cost structure of manufacturing industries.

“You can imagine the impact on manufacturing industries that are energy-intensive such as metal processing, heavy machinery, and chemicals manufacturing.

“A spike in the electricity tariff will erode the profit margin of the manufacturers and reduce their ability to expand operations and create new jobs.

“Manufacturers will ultimately pass on the additional cost to the consumers of their products and this will increase the cost of the products in the market and complicate the rising inflation rate in the country.

“Also, the sector’s competitiveness will definitely worsen as the high cost of the products will make locally produced items less competitive when compared with imported alternatives.

“As it is today, the manufacturing sector, which is the engine of growth, is still struggling as a result of the inclement production environment in Nigeria.

“The expectation is that government will engage in extensive and intensive consultations with the manufacturers; focus on measures that will salvage the sector and halt the trend of shutdown of factories, knowing the implications and the multiplier effects on employment and the economy.

“Care should be taken to avoid introducing burdensome measures that will further strangulate the manufacturing sector and the whole economy.”