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Plan For Interim Government In Nigeria Real – DSS

By
Ayodele Oni
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By Ayodele Oni

Nigeria’s Department of State Services (DSS) has confirmed a plot “by some key players” to install an interim government and stop Bola Ahmed Tinubu from being inaugurated as president.

The secret service, had earlier disclosed that there are plans by some persons to violently disrupt peace in the country.

In a statement on Wednesday, Peter Afunanya, the public relations officer of the department, said: “The Department of State Services (DSS) has identified some key players in the plot for an Interim Government in Nigeria.

“The Service considers the plot, being pursued by these entrenched interests, as not only an aberration, but a mischievous way to set aside the constitution and undermine civil rule as well as plunge the country into an avoidable crisis.

“The illegality is totally unacceptable in a democracy and to the peace loving Nigerians.

“This is even more so that the machination is taking place after the peaceful conduct of the elections in most parts of the country.”

Ado/Akure Highway Will Boost Economic Growth – Adebayo

By
Ayodele Oni
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Niyi Adebayo

By Ayodele Oni

The people of Ondo and Ekiti states are anxiously waiting for work to commence on the reconstruction work of Ado-Akure highway as promised by the federal government.

The highway is among those to be reconstructed through the Nigeria National Petroleum Corporation, (NNPC) tax credit scheme.

It had earlier been awarded to a contractor but was terminated following take over by the NNPC.

Apart from ensuring smooth drive, the highway will complement the newly established cargo airport in Ekiti state, which has not recorded any flight since it was commissioned by the immediate past administration of Kayode Fayemi.

Speaking on the project, the minister of Industry, Trade and Investment, Adeniyi Adebayo described the award of the dualization of the road by President Muhammadu Buhari as a worthy legacy to the people of the two states.

In a chat with newsmen after the Federal Executive Council, (FEC) meeting in Abuja on Wednesday, the Minister said the inclusion of the road amongst roads to be fixed  through the NNPC Tax Credit Scheme is a welcome development to the people of the two states.

He said the road has brought untold hardship to the people in the past as efforts to fix it in the past have not yielded any positive result.

Adebayo, a former Governor of Ekiti state, hailed the Minister of Works and Housing, Mr Babatunde Fashola for the inclusion of the roads amongst Federal Government roads to be reconstructed, saying the gesture would remain indelible in the heart of Ekiti people.

The Minister said the road when fully reconstructed, would open Ekiti State up for more investors and induce economic growth of the two states.

Tinubu At 71: Salutes, Thanks Nigerians, Says Presidential Victory, Greatest Birthday Gift To Him

By
The Source
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Bola Ahmed Tinubu

“With such a privilege already granted to me, I will not go so far as to suggest I am due any birthday presents this year. I have already been given the greatest gift. A chance to lead and fulfil destiny. An opportunity to champion your aspirations and to bring about the Nigeria of your dreams.”

Here’s full text of his appreciation.

“Dear Nigerians,

I thank all of you who have expressed your goodwill towards me on the occasion of my 71st birthday. I received your kind words with great pleasure and was profoundly touched by the depth of your care and support. Above all, I thank God Almighty for the life He has given me, for all the opportunities and doors He has opened to me along the way.

“This year in particular, I see this day as one of deep reflection. The spiritual meaning and significance of the holy month of Ramadan matter to me much more than the celebration of any individual milestone.

“Yet, this is my first birthday as the President-elect. A few weeks back, Nigerians gave me the honour of a lifetime. In exactly two months, on the 29th of May my term in office will begin. It is a rare privilege indeed, and one that I do not take lightly and shall not squander.

“With such a privilege already granted to me, I will not go so far as to suggest I am due any birthday presents this year. I have already been given the greatest gift. A chance to lead and fulfil destiny. An opportunity to champion your aspirations and to bring about the Nigeria of your dreams.

“I will, instead, use this day as an opportunity to reiterate my commitment to the great and important task of rebuilding our nation and renewing the hope of the Nigerian people.

“I campaigned hard and made important promises. Those promises were not mere words; professed glibly or cynically to win support. They represent a bond that binds me to the task of creating a better Nigeria for the benefit of every Nigerian, whether you voted for me or not. I have prepared for this moment all my life, I will not fail.

“Henceforth, may growth, hope, peace and compassion stand proudly and ring loudly throughout the land. May we find the right way and the good courage to turn our beloved country into a strong, just and prosperous home for all. May Almighty God bless all Nigerians.

“SIGNED

President-elect,

Asíwájú Bola Ahmed Tinubu

March 29, 2023.”

Man, 42, Butchers Father, Sells Body To Ritualists

By
Ayodele Oni
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Law and Court

By Ayodele Oni

In a mad rush to get rich quick, a 42-year-old man, Sunday Obasuyi, has been remanded by a Magistrate Court in Ekiti State at the Correctional Facility in Ado-Ekiti, for, allegedly, selling his 82-year-old father, Michael Obasuyi to ritualists.

The suspect was remanded alongside two others, one Akinniyi (51) and Bobafe Sunday (51) for kidnapping and killing of the octogenarian.

The Magistrate, Bankole Oluwasanmi, said that the suspects will be in custody pending advice from the Director of Public Prosecution (DPP).

Earlier, the Prosecutor, Inspector Akinwale Oriyomi, told the court that the defendants conspired and kidnapped the aged man on February 1, at about 11am in Agbado-Ekiti, Gbonyin Local Government Area.

His corpse was, some weeks later, discovered in a shallow grave.

The Prosecutor further alleged that the first defendant, Obasuyi, conspired with Akinniyi and sold his father for N1.8million to the third defendant, Sunday, who was a herbalist.

According to him, the offences contravened Sections 280, 279 and 234 of the Criminal Law of Ekiti State, 2021. No plea was taken by the Court.

Obi Restates Objectives And Characters Of The Obidient Movement

By
The Source
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Peter Obi in Gombe

The Presidential Candidate of the Labour Party and the leader of the Obedient Movement In Nigeria and diaspora, Mr. Peter Obi has warned that any attempt to ascribe, religious, ethnic, and other parochial interests to the movement will fail.

Obi in a series of tweets on Wednesday said that there is no looking back on the Movement’s goal of taking back Nigeria because the time is now.

“In the life of every nation, there is a turning point. For Nigeria, that time is now; a time to save Nigeria, save our democracy, and give the Nigerian youths hope. The OBIdient Movement has been the arrowhead in the take-back Nigeria mission.

The former Anambra state Governor said his role in the Movement is just to provide leadership and direction, “My role in the Movement is that of a Focal Point. As I’ve always stressed, Nigeria remains a secular state. As such, the movement is not about my tribe or my religion, and it is not an Igbo agenda or in any way, to Christianize Nigeria”

“My aspiration is for a new Nigeria, where the children of a nobody will become somebody. A nation anchored on national interests, and not sectional interests; where the entire youths from the six geopolitical zones will have a sense of belonging in the affairs of their country.

He said that his ambition is to lead a united and indivisible Nigeria and warned against ascribing ethnic or religious coloration to the OBIdient Movement.

Obi drew the attention of Nigerians to what is happening in Scotland where  “A 37-year-old, Humza Yousaf is set to become Scotland’s first minister, having won the keenly contested SNP’s leadership contest. Born to Pakistani parents, who emigrated to Scotland in the 60s, Yousaf is from the ethnic minority and a Muslim.

“I have always maintained that Nigerians must rise above ethnicity, religion, and sectarian politics in matters of governance; and that the leadership selection process must be strictly based on Character,  Competence, Capacity, and Compassion, only then, shall our democracy flourish, and our society progress. Contextually, the Scottish reality is instructive and presents us with some lessons learned and missed opportunities”

Earlier, the leadership of the Labour Party (LP) held an interactive strategy session with Senate-elect and House of Representative-elect members, a  session Obi said was to discuss leadership and working modalities for the incoming legislators and which he noted was very constructive.

The LP standard bearer who also on Tuesday attended the 16th Ayiam Osigwe Lecture in Lagos chaired by Chief Emeka Anyaoku where the  Former UK Prime Minister Boris Johnson, was the guest speaker, strongly maintained that democratic and economic development hinges on credible polls, education, rule of Law.

Obi finally enjoined Nigerians, to strive for a leadership imbued with Character, Competence, Capacity, Credibility, and Commitment.

LP Slashes Imo State Gubernatorial Form Fee From N25m To N15m

By
The Source
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The Obidient Movement operating under the Labour Party platform continues to show its unique characteristic as a populist reformist political organization.

The party had pegged its gubernatorial fee for the forthcoming Imo State Governorship election to twenty-five million naira for the aspirant’s form.

But in a median meeting, the party leadership had with their elected National Assembly legislators in Abuja on Tuesday, it was agreed that they slash the amount further down to fifteen million only.

The National Chairman of the party Barrister Julius Abure said the downward review is in response to the wishes of their members and to also show that LP is a listening party and obedient to the wishes of its members.

“We are here to serve them and to do their wish he said as he announced the new amount of N15m

The Presidential flag bearer and the leader of the party, Peter Obi is known for his brand of politics that plays down on the influence of money in our politics Rather than wealth and fame Obi wants competence, character, and capacity to be the driving force of our politics.

Obi is on record to have reiterated that “if we want to take back our country we must not alienate critical segments like youths and women who are vulnerable when you put money up in the ceiling”

Banker In EFCC Custody For Stealing N23m

By
James Orji
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Olusegun Raphael, a former staff of the First City Monument Bank, FCMB, has been remanded in the custody of the Economic and Financial Crimes Commission, EFCC, for allegedly diverting some funds belonging to a customer of the bank.

The former banker is currently being tried by the anti graft agency for allegedly stealing over N25 million from the said customer, according to a statement signed by Wilson Uwajaren, the Commission’s spokesperson.

Justice P. I. Ajoku of the Federal High court, Port Harcourt, Rivers state, on Monday ordered the accused to be remanded in the EFCC custody after he pleaded not guilty to the allegation of theft.
He was arraigned on six counts bordering on stealing and currency counterfeiting to the tune of twenty-three million, five hundred thousand naira, according to the EFCC charge sheet.

Zenith Bank Impresses With N945.5 bn Earnings In 2022

By
James Orji
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Ebenezer Onyeagwu - Zenith Bank PLC MD

Zenith Bank Plc has announced its audited results for the year ending December 31, 2022, achieving an impressive double-digit growth of 24 percent in gross earnings from NGN765.6 billion reported in the previous year to NGN945.5 billion in 2022. This is despite the persistent challenging macroeconomic environment and headwinds.

According to the audited financial results for the 2022 financial year presented to the Nigerian Exchange, NGX, the double-digit growth in gross earnings was driven by a 26 percent year-on-year, YoY, growth in interest income from NGN427.6 billion to N540.2 billion and a 23 percent year-on-year, YoY, growth in non-interest income from NGN309 billion to NGN381 billion. Profit before tax also grew by two percent from NGN280.4 billion to NGN284.7 billion in the current year. The increase in profit before tax was due to the significant growth in all the income lines.

Impairments grew by 107 percent from NGN59.9 billion to NGN124.2 billion, while interest expense grew 63 percent YoY from N106.8 billion to N173.5 billion, respectively. The impairment growth, which also resulted in an increase in the cost of risk (from 1.9 percent in 2021 to 3.3 percent in the current year), was due to the impact of Ghana’s sovereign debt restructuring programme. The growth in interest expense increased the cost of funds from 1.5 percent in 2021 to 1.9 percent in 2022 due to hikes in interest rates globally.

Customer deposits increased by 39 percent, growing from NGN6.47 trillion in the previous year to NGN8.98 trillion in the current year. The growth in customer deposits came from all products and deposit segments (corporate and retail), thus consolidating the bank’s market leadership and indicating customers’ trust.

The continued elevated yield environment positively impacted the bank’s Net-Interest-Margin (NIM), which grew from 6.7 percent to 7.2 percent due to an effective repricing of interest-bearing assets. Operating expenses grew by 17 percent YoY, but growth remains below the inflation rate. Total assets increased by 30 percent, growing from NGN9.45 trillion in 2021 to NGN12.29 trillion, mainly driven by growth in customer deposits.

With the steady and continued recovery in economic activities, the Group prudently grew its gross loans by 20 percent, from NGN3.5 trillion in 2021 to NGN4.1 trillion in 2022, which increased the Non-Performing Loan, NPL, ratio modestly from 4.2 pefcent to 4.3 percent YoY. The capital adequacy ratio decreased from 21 percent to 19 percent, while the liquidity ratio improved from 71.2 percent to 75 percent Both prudential ratios are well above regulatory thresholds.

In 2023, the Group intends to expand its frontiers as it also reorganises into a holding company structure, adding new verticals to its businesses and growing in all its chosen markets, both locally and internationally.

As a testament to its commitment to shareholders, the bank has announced a proposed final dividend payout of N2.90 per share, bringing the total dividend to N3.20 per share.

In recognition of its track record of excellent performances, Zenith Bank was recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 13th consecutive year, in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards; Best Commercial Bank, Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; Best in Corporate Governance’ Financial Services’ Africa, for three consecutive years from 2020 to 2022, by the Ethical Boardroom; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards.

Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, and Retail Bank of the year, for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions, BAFI, Awards.

Similarly, Zenith Bank was named as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Most Innovative Bank of the Year 2019 by Tribune Newspaper, Bank of the Year 2020 by Independent Newspaper, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.

NIMASA, MWUN Commit To Peaceful Maritime Sector

By
James Orji
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0

The Management of the Nigerian Maritime Administration and Safety Agency, NIMASA and the Maritime Workers Union of Nigeria, MWUN, have restated their commitment to continuous stakeholder’s engagement as an effective tool to maintain the peace which the nation’s maritime sector have enjoyed in recent years.

NIMASA Director General Dr Bashir Jamoh OFR, and the President General of the Maritime Workers Union of Nigeria, Comrade Adewale Adeyanju both made the assertion in Lagos at a ceremony by NIMASA to hand over vehicles to the Union as part of the Agency’s Corporate Social Responsibility. The vehicles are a 16-seater bus and one Hilux.

Dr. Bashir Jamoh applauded the union for adopting dialogue in ensuring and maintaining peace in the maritime sector, which he said has aided the peace and industrial harmony witnessed in the sector leading to the successes recorded.

In his words “In the past few years, the maritime industry has experienced relative peace and harmony, which has been made possible through the instrumentality of the leadership of MWUN. NIMASA is committed to ensuring the union is equipped with adequate facilities needed to perform their duties judiciously”.

He also charged the Union to continue to support the policies and instruments of the International Labour Organisation (ILO), towards ensuring a better welfare and decent work for the seafarers.

“We acknowledge that you have done so much in championing the cause for better wages for Dockworkers, Seafarers and other labour components in the maritime sector. We urge you to continue your stakeholders’ engagement in achieving implementation of international labour laws to achieve better welfare in consonance with international best practices for workers in the maritime sector”.

Furthermore, the DG assured that the Agency would complete the renovation of the headquarters of the Union in order to give them a befitting habitation.

On his part, the MWUN P-G, Comrade Adeyanju expressed the gratitude of the union to the Management of NIMASA, and assured that they will continue to work closely with the various stakeholders in the sector to ensure continuous progress. He also urged Terminal Operators, Government Agencies and other major maritime players to emulate NIMASA in the discharge of their CSR Projects.

The MWUN President General who is also the National Vice President of the Nigerian Labour Congress commended the leadership of NIMASA under Dr Jamoh urging the Federal Government to consider a second tenure based on performance.

“We will continue to play the role of stabilizing the sector. The era of confrontation in the maritime sector is gone, as we have embraced dialogue, which has ensured sustained peace and harmony. The leadership of NIMASA under Bashir Jamoh has excelled in staff welfare, regular staff promotion, and attending to the needs of stakeholders. Based on performance, Jamoh deserves a second term in office; his achievements speak volume. You made dialogue a way of life here at NIMASA and resolving labour related issues have been seamless under your leadership. We have had good DG’s in the past, but Jamoh is exceptional. We have been watching you and we know you have the track record of fulfilling your promises; we charge you to continue as the union will continue to support the humanitarian policies of your Management”, Adeyanju said.

Professor Nnenna Oti, VC FUTO,  Gets Heroic Welcome From Her Students

By
The Source
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0
Professor Nnenna Oti

By Charles Igbo

For Professor Nnenna Oti, Vice Chancellor of the Federal University of Technology, Owerri, it was a surprise joyful welcome from her Students after her brilliant performance in Abia State.

Professor Oti was the Independent National Electoral Commission’s Returning Officer to Abia State in the just concluded Governorship Election.

While a number of her colleagues have curses being hauled at them for their alleged poor and unbecoming performances in the States they were posted to, Professor Oti is being celebrated, nationwide, by appreciative Nigerians.

For standing firm in her beliefs, for not compromising, for not caving in to pressures to corrupt the outcome of the elections, Oti has become Nigeria’s Poster Girl.

When the pressure was much, she let it be known that “the Mother in me, and the Pastor in me” will not allow her do the wrong thing. She remembered the youths and the sufferings they are going true, and said, she wanted a better future for Nigeria’s children.

For her uncompromising stand, Nigerians are full of appreciation. One business man from Abia, in appreciation, gifted her with a very expensive car. Another, an FBI Consultant, reportedly gave her the sum of N100 million. But the icing on the cake was the reception given to her, on Monday, by FUTO Students.

As her car drove into the University Campus after her National duties at Abia, the students laid an ambush for her. In their hundreds, they welcomed her with drums, cymbals, dances and songs and jubilation. She has made them proud by keeping her integrity, her credibility in tact. By doing so, she projected FUTO as a University that is disciplined, a University which Vice Chancellor lives by example.

As she watched them, she stepped down from the car, and joined her excited students in the long walk to her office, where they celebrated some more.

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