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Fidelity Bank: Why We Acquired Union Bank UK-Onyeali-Ikpe

By
Tosin Olatokunbo
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The managing director of Fidelity Bank Plc, Nneka Onyeali-Ikpe has disclosed that the tier 2 bank is poised to expand its financial services beyond Nigeria.

Onyeali-Ikpe spoke following the complete acquisition of Union Bank, the United Kingdom by the bank. Fidelity Bank said in a corporate filing that it has acquired 100 per stake in the bank.

She said the bank is now operating on a scale that supports global banking services.

According to the Fidelity Bank chief executive, “This transaction aligns with our strategic plan of expanding our service touchpoints beyond the Nigerian market and providing straight-through services that meet and exceed the needs of our growing clients.

“The diverse service bouquet and business model of Union Bank UK offered a compelling synergy, and we hope to build on the existing capacity to create a scalable and more sustaining service franchise that will support the wider ecosystem of our trade businesses and diaspora banking services.”

The bank stated in a filing to the Nigeria Exchange, NGX Limited by its Company Secretary, Ezinwa Unuigboje that it has met all regulatory approval for the transaction.

The transaction, the bank further stated is still subject to the Prudential Regulatory Authority of the United Kingdom approval.  The Union Bank UK was formerly owned by Union Bank Nigeria, UBN before the latter was acquired by Titan Bank two months ago.

Prophet Oladele Genesis And Rev. Esther Ajayi Expose Can Of Worms; As Relationship Goes Sour

By
Akinwale Kasali
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Pastor Isreel Oladele and Esther Ajayi

By Akinwale Kasali

The outburst of Prophet Oladele Israel, popularly known as Genesis has revealed that the once rosy relationship between him and Rev. Esther Ajayi has hit the rock.

Time was when the duo was inseparable. They referred to each other as mother and son.

They both travelled for Ministration within and outside the shores of Nigeria together.  Their cordiality and unity were the talk among the Cherubim and Seraphim and the Celestial Church of Christ faithfuls.

Sadly, the tongue lashing and the threat by Genesis to expose Iya Adura of her dirty secrets have become a major issue of concern to their ardent fans, followers and worshippers.

At the Sunday Service in Genesis Church, the Clergyman, although he didn’t mention Iya Adura’s name, but his description and statements pointed directly at Rev. Ajayi.

Genesis said that the Woman he respected a lot abandoned him when he was in trouble despite the fact that he served her diligently.

He continued by saying the ‘woman’ gave deceased Yoruba actor, Babatunde Omidina, popularly known as Baba Suwe the sum of N10 Million and supported young orange seller who did a cover of Tope Alabi’s song but never bothered to render help to him when he needed it.

Genesis claimed he served her with all he had and made so many sacrifices at his own detriment to make the Woman happy and put smiles on her face.

Genesis made it known that Esther Ajayi has shown that she isn’t a woman of God with the singular act of abandoning him.

He also explained that she has removed his pictures from her Church since the tribulations began.

While revealing some secrets, Prophet Israel Oladele Genesis mentioned that the same thing that happened to him happened to Esther Ajayi but he was the one who covered up for her and prevented her from suffering what he suffered.

Furthermore, he warned her not to reply him because he will expose more secrets about her.

‘’I will not say it secretly, she just showed that she is not a woman of God, she helped people but I that served her, she couldn’t help me when I got into trouble.

‘’What happened to me happened to you but I covered up for you, I am not scared of death or anything, I don’t need any friend.

‘’You are a woman, you know my mother, I was not even surprised when you said you had a dream about me in the midst of herbalists, it simply means you are one of them too.

‘’You better don’t reply me, if you do, it will be very disastrous than Oba Solomon.’’

It would be recalled that Genesis was jailed for duping a London based Lady, who he was alleged to have fraudulently collected a huge sum of money from to purchase a land and other businesses, leading to him being jailed for close to Six Months before he was eventually released.

Rev. Ajayi was a United Kingdom based Pastor who later relocated to Lagos, Nigeria to build her Church called Love of Christ.

Iya Adura came to limelight less than six years ago, and her trademark then was spending extravagantly.

She doled out millions in cash to many Nollywood Actors, which include; the Late Babatunde Omidina also known as Baba Suwe who she gave N10 Million; the Late Alabi Yellow, she gave N5 Million; she also gave Idowu Phillips known as Iya Rainbow huge sum of money to build her Church.

Also, She once donated over N400 Million for the construction of a road to Moses Orimolade University, Omu-Aran, Kwara State, and singlehandedly built an auditorium at a branch of the Cherubim and Seraphim Church within six months, and other philanthropic gestures.

Tongues have however been wagging how she got money to be doling about, as there is no business or company owned by her to amass such wealth.

Her Church, Love of Christ Generation is estimated to be worth over N22 billion, and during the COVID -19 Pandemic, construction of the building was ongoing despite the austerity and economic downfall that befell the world.

She claimed that an unbeliever was instrumental in building her new Cathedral in Lagos. She revealed that the said unbeliever had earlier bought a Church worth £5.2 million for her in London.

Revealing how the couple in London were instrumental to the Cathedral, Esther Ajayi said, “The husbands of the couple in London is an unbeliever, and I am still making efforts to convert them. The husband informed me that he dreamt of building a Church for me in my country (Nigeria), although they had earlier bought a Church worth £5.2 million for me. I showed the couple some photos of the land I saw in Nigeria, and they paid for the land and the construction of the Cathedral. No one can convince me otherwise about Jesus. They fully paid for the building project.”

It would be recalled that she was heavily criticized during the opening of her Church when she invited personalities like the General Overseer of the Redeemed Christian Church of God, RCCG, Pastor Enoch Adejare Adeboye and his wife, with other dignitaries like the former President of Nigeria, Olusegun Obasanjo, Ooni of Ife, Enitan Adeyeye Adewusi and others came into the Church with their shoes which is against the doctrine of the C&S.

Also, she is a frequent caller at the Osun/Oshogbo Festival , Aje Festival, Olokun Festival in Ile Ife, Osun State, which is also criticized.

Though the names of the couple haven’t been mentioned till today, raising doubts about the genuineness of her claims.

Esther Ajayi’s source of wealth has been a question on many people’s lips. In her biography, she claimed to be a rich businesswoman before she started her Church and Ministry. She also claims she makes money from donations in her church, tithes, offerings and free will donations.

She was born on April 2, 1963, in Mushin, Lagos State, Nigeria. She had her early education at St. Michael’s Catholic School in Mushin and Ikeja Senior Grammar School, Bolade-Oshodi, both in Lagos State.

Okada Riders Storm Governor Sanwo Olu’s Office, Urge Him To Rescind Ban Order

By
Akinwale Kasali
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Okada Riders at Sanwo-Olu Office

By Akinwale Kasali

Commercial Motorcyclists, popularly known as Okada Riders in local parlance have stormed the office of Governor Babajide Olusola Sanwo Olu in Alausa, Ikeja, to plead with him to rescind his decision on the ban of Okada in  new six Local Government Areas in the State.

The ban which takes effect from September 1st, 2022, prompted thousands of ‘Okada’ riders into pleading that the clampdown will have a great effect on their source of livelihood.

It would be recalled that the Lagos State Governor  announced an additional six Local Government Areas where Okada will not be in operation in addition to the previous nine Local Government Area as part of its efforts to improve the security situation in the State.

Earlier, traditional rulers, religious leaders, residents, Community Development Associations, among others had called on the Lagos State Government to consider a total ban on the operations of Okada riders across the state to end the menace and security threat posed by the group.

In response to the pleas, on May 18, 2022, Sanwo-Olu made a pronouncement on the total ban on Okada operations in six LGAs, and the respective nine Local Council Development Areas, LCDAs, under them including all major bridges and highways of the State. He subsequently inaugurated the Lagos State Anti-Okada Squad saddled with the responsibility to aid the police and taskforce to implement and enforce total compliance of the ban.

Sanwo-Olu had on May 10, 2021, reviewed the 2012 Lagos Traffic Law guiding the Okada operations, after his predecessors, Babatunde Fashola and Akinwunmi Ambode’s administrations banned their activities.

The initial six LGAs and nine LCDAs are: Apapa, Apapa-Iganmu LCDA, Ikeja, Ojodu, Onigbongbo, Lagos Island, Lagos Island West, Lagos Island East LCDAs, Lagos Mainland, Yaba LCDA, Surulere, Coker Aguda, Itire-Ikate LCDA.

Others include: Eti-Osa, Eti-Osa East, Eti-Osa West, Iru Victoria Island and Ikoyi-Obalende LCDA.

The additional four councils affected by the pronouncement, include: Kosofe, Ikosi-Isheri, Agboyi-Ketu LCDAs, Oshodi-Isolo, Isolo, Ejigbo LCDAs, Shomolu, Bariga LCDA and Mushin, Odi-Olowo LCDA.

The protesting Okada riders were led by the Chairman of Motorcycle Operators Association of Lagos State, MOALS), Ramoni Eleniyan and few other union leaders.

The leadership of Okada association later proceeded to an emergency meeting with government officials led by Deputy Governor, Dr. Obafemi Hamzat to discuss an amicable solution to the issue.

Nigerians Lash El-Rufai’s Son Over Comment On  ASUU Strike

By
Akinwale Kasali
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By Akinwale Kasali

Bashir El-Rufai, Son of Kaduna State Governor, Nasir El-Rufai, has come under strong criticism over his comment on the lingering strike by the Academic Staff Union of Universities, ASUU.

Bashir had called ASUU  useless.  Writing on his Twitter handle he said: “ASUU is a very useless union. They should be scrapped and replaced with educators that actually give a damn about students and how that translates to the future of this country.”

His outburst generated controversy as Social Media users  lambasted him referring to his statement as useless.

They condemned  comments without sparing his father as well.

A user, Oluwaseun Adewole, said, “This idiot no school for Nigeria ooo. I’m not supporting ASUU but I won’t tolerate any banter from those who have led ASUU to their insensitivity.”

“Like father, like son. Terrorists have taken over Kaduna State under his father’s watch, but he hasn’t told his father that he is useless. It’s not surprising anyway! His dad is foul-mouthed. Imagine a governor describing terrorists as “area boys” and “business men.”

The amalgamation was a blunder,” Sanmi Ajibade wrote.

Joshua Oladepo, reacting, said, “This fool doesn’t know the pain we are going through schooling in Nigeria.”

“This one has used cap to cover his sense. No politician children has the right to comment on any issue in this country because they are not facing what Nigerians are facing. Stay abroad and mind your business with your head like Igneous rock,” Walshak Kos wrote.

“I am not angry with him for making such useless statements. My anger goes out to those mad people here that will still vote the All Progressives Congress/the Peoples Democratic Party,” Monday Omos wrote.

Another user, Kabiru Musa, wrote, “How many years your dad spend without solving this banditry issue? In a developed country your dad is supposed to be in jail.”

“Charity begins at home. Insulting good people is what you have inherited from your father, that’s why I would not blame you for what you have uttered because you are obviously exposing how you were trained to treat people in your family,” Ibrahim Preacher stated.

Abdullahi Z Suleiman, said, “Oboy! Small small faaaa. All these things coming out from you would hunt you someday. ASUU are better than your father, Your father sent you to abroad to acquire your degree when ASUU were sacrificing for the children of the downtrodden.”

“Do I blame you? You and your family are feeding from tax payers money, so you can vomit any nonsense,” Ken Nduka wrote.

While I was so disappointed by calling the union of our lecturers “useless,” this shows highest level of immorality and disrespect to them. Maybe it’s okay for you due to your upbringing at home.

“Charity begins at home”, this is not the first time you’re using vulgar words against respected Nigerians, may be just because your parents have privilege to hold important positions in country,” Abdurrahman Habibu also wrote.

It would be recalled that ASUU after a meeting in Abuja yesterday, Monday, has declared its strike indefinite, further shattering the   hopes of students and parents for an urgent solution to the strike which has lasted for five months and counting.

FG Plans N50trn Debt Next Year

By
Tosin Olatokunbo
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Zainab Shamsuna Ahmed,minister of finance

By the end of 2023 Nigeria’s total debt would have risen to over N50 trillion, the federal government has said. The total debt stock is currently N41.6 trillion, according to the Debt Management Office, DMO.

But speaking while presenting the 2023 to 2025 Medium Term Expenditure Framework, MTEF and Fiscal Policy Paper, FSP to the House of Representatives’ Committee on Finance, the Minister of Finance, Zainab Ahmed said the government’s debt will rise to over N50 trillion as the plan is underway to borrow more than N11 trillion to finance the proposed 2023 budget.

The minister disclosed to the committee led by James Faleke that the Buhari government is proposing a N19.76 trillion budget for the next fiscal year.

She said N6.72 trillion from the borrowed fund will be used for next year’s petrol subsidy.

Ahmed said “In the first scenario, the 2023 Federal Government revenue is projected at N6.34 trillion, out of which only N373.17 billion or 5.9 percent comes from oil-related sources. The balance of N5.97 trillion is to be earned from non-oil sources.

“In the second scenario, in addition to subsidy reform, this scenario assumes an aggressive implementation of cost-to-income limits of GOEs. With these, the 2023 Federal Government revenue is projected at N8.46 trillion (15.1 percent or N1.51 trillion less than the 2022 budget) but N2.12 trillion more than scenario one.

“Of this N8.46 trillion, N1.99 trillion or 23.6 per cent is projected to come from oil-related sources, while the balance is to be earned from non-oil sources.”

Breaking down the 2023 proposed budget the minister said, “In this (business-as-usual) scenario, given the severely constrained fiscal space, budget deficit is projected to be N12.41 trillion in 2023, up from N7.35 trillion budgeted in 2022, representing 196 per cent if total Federal Government revenues or 5.50 per cent of estimated GDP.

“This is significantly above the three percent threshold stipulated in the Fiscal Responsibility Act, 2007 and there will be no provision for treasury-funded MDAs’ capital projects in 2023,” she noted.

“Federal Government’s 2023 aggregate expenditure is estimated at N19.76 trillion (inclusive of GOEs). In this scenario, the budget deficit is projected to be N11.30 trillion in 2023, up from N7.35 trillion in 2022.

“This represents 5.01 percent of the estimated GDP, above the three percent threshold stipulated in the Fiscal Responsibility Act, 2007,” the minister noted.

Access Corp Acquisition Of FGP Ltd In Line With Global Vision-Wigwe

By
Tosin Olatokunbo
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The Group Managing Director of Access Corporation, Herbert Wigwe has disclosed that the final acquisition of First Guarantee Pension is in line with the company’s vision to become a global brand.

According to Wigwe, “This transaction is in line with our vision to create a globally connected community and ecosystem; inspired by Africa for the world,” he said.

“We will deploy our renowned culture of strong risk management, innovative technology and best practice corporate governance to deliver high standards of management and returns on pension assets to the benefit of our stakeholders.”

The financial giant had in May signaled interest in acquiring FGP after selling its pension enterprise, Access Pension Fund Custodian Limited, to First Bank Holdings.

Access Holdings disclosed on Monday through the company secretary, Sunday Ekwochi that the corporation has completed the acquisition of FGP Limited.

The company said in the statement that the transaction followed approvals from regulatory authorities to acquire “majority equity stake in First Guarantee Pension Limited (FGPL).”

“Following this development, FGPL is now a subsidiary of the corporation and will provide a strong springboard for the corporation’s execution of its ecosystem strategy for the pension funds administration industry,” the statement said.

Again, Wike Roars: Something Will Happen In PDP Soon, He Says; Party Ready To Call His Bluff – Sources

By
The Source
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By Charles Igbo

Rivers State Governor, Nyesom Wike, on Monday doubled his attack on his political Party, the Peoples Democratic Party, PDP, and its Presidential Candidate, Atiku Abubakar.

A few days ago when Wike and his allies held a meeting  with Atiku in London, as they also did with the Presidential candidates of the Labour Party, Peter Obi and that of the All Progressives Congress, Bola Tinubu, not a few people within PDP thought that, finally, the wrangling between Atiku and Wike would soon be over.

However, the first sign that nothing has been settled was the utterances of Wike and two of his Governor-allies who accompanied him to London and were present at all the meetings – the Governors of Benue and Abia States, Samuel Ortom and Okezie Ikpeazu. None of the three, while addressing Reporters at the Porthacourt International Airport, said they were going to support Atiku. They, instead, said they were working for the good of the country.

But on Monday, while unveiling the construction of internal roads at Rumuesara, Eneke town in Obio/Akpor Local Government Area, Wike upped the ante of the crisis in the PDP. and by extension, his wrangling with Atiku. He told the people that something will happen in the PDP soon.

In a brush at Atiku, even though he did not mention his name,  he said he would unmask Presidential candidates who are deceiving the people by mouthing they are on a “rescue mission.”

He called them fake. And he called them looters. He said he is in a vantage position to know, and would unmask such people soon.

And in response to those who think he will not be able to influence the voting pattern in the State, Wike put a lie to their thoughts.

Wike: “Now that I have come to Eneka to provide this basic infrastructure, I can come back to Eneka and ask you to follow me, let us go there or let us stay here. Do they have what it takes to come and talk to you? Can they come and talk to you?”

On what will happen next, and his opinion of President candidates, Wike said: “Some other people are busy putting themselves together on how they will take over leadership in Nigeria to loot the remaining  ones these other people have already kept.

Atiku Abubakar and Nyesom Wike

“I’m privileged to know, and at the appropriate time, I’ll tell you who these people are. You need to know what is happening in Nigeria. Forget about all these people running around, saying they want to rescue and save you. Just watch to see what is going to happen next.

“All of us should be  calm concerning what is happening in the PDP. In fact, nothing has happened yet. But by the grace of God, something will happen.”

Wike bears grudges against Atiku for not picking him as his running mate after Atiku beat him to the second place during the PDP Presidential Primary, even when a Committee set up by Atiku and the Party, rated Wike higher than both Delta State Governor, Dr Ifeanyi Okowa, who he eventually picked, and Akwa Ibom State Governor, Udom Emmanuel.  Since then, Wike has been implacable, engaging in anti-party activities by publicly romancing other parties.

This is not the first time Wike is threatening the Party or Atiku, but none has been so brazen.

At his meeting with Atiku in London, among other things, Wike, it is alleged, specifically asked for the  National Chairman of the Party, Dr Iyorchia Ayu, to step down on the grounds that the Presidential candidate of the Party, Atiku, is also from the North, same as Ayu.

Sources within the Party hierarchy, however, told this medium that not a few people have had Wike upto their necks. They inform that the Party will soon call Wike’s bluff and move on without him. “His is too much. A tree does not make a forest. Let him go wherever he wants to go to”, an angry PDP chieftain said.

Obasanjo’s Man, Akin Osuntokun, Dumps PDP For LP

By
The Source
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Akin Osuntokun

Akin Osuntokun, accomplished writer, analyst, political scientist and researcher has dumped the Peoples Democratic Party, PDP.

A former President Olusegun Obasanjo’s Aide, Osuntokun is now the the Leader of the Labour Party in the South-west.

Osuntokun has a wide experience in Media Advocacy and Policy Research.

He, once in a while, contributes to the back page of This Day Newspaper. He was, also, the boss of the News Agency of Nigeria, NAN.

Actor Olu Jacobs Alive, Wife, Joke Silver; Threatens Legal Action

By
Adesina Soyooye
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Olu Jacobs and His Wife

By Adesina Soyooye

Accomplished Actor, Olu Jacobs is alive and doing well.

This is contrary to the news of his passage which made the rounds.

His wife, also, an accomplished actress, Joke Silver, debunked the news of his death, and threatened legal action against the rumour mongers.

Silver took to her Instagram story to issue the statement debunking the passing of her husband, and disclosed that the much celebrated actor is alive and well.

She wrote: “Good day every one.  I trust all is going well. The Jacobs clan would love to inform you that Papa J (Olu Jacobs, MFR), is alive and well; enjoying himself as always in the comfort of his home and loved ones.

“To all those who have decided to ignore our last warning regarding fake news, kindly prepare for legal action.”

This is the second time the story of Jacobs’ death would make the rounds, and the second time his wife would issue a statement to debunk his passing.

Olu Jacobs, 80, is however, according to his beloved wife, a couple of months earlier, suffering suffering from dementia, a condition usually associated with old age.

Both got married in 1989.

Obi-Datti Media Office Tackles Dele Alake,Tinubu’s Media Director; Says Unlike His Principal, Obi Is Verifiable”

By
The Source
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0

The Media Office of the Presidential Campaign Office of Peter Obi and Yusuf Datti Baba-Ahmed, the Presidential and Vice Presidential candidates of the Labour Party, has tackled Dele Alake,  one of the Directors of Media in the Presidential Campaign office of Bola Tinubu.

In an interview, Alake, a former Lagos State Commissioner for Information and Strategy, ran down Obi and pointed out that Obi, unlike Tinubu, cannot name any legacies he left in Anambra State when he was the Governor.

Tinubu was like Obi in Anambra State, a two term Governor of Lagos State.

Alake in his remarks noted that Obi could not be compared to Tinubu as the later left monumental and verifiable legacies in Lagos State.

Alake also accused Obi of being one of those who destroyed the Nigerian economy based on Obi’s line of business which he said was mainly importation of goods into the country.

But in a strongly worded statement, the Obi-Datti Media Office dismissed Alake as ignorant of Obi’s achievements when he was the Governor of Anambra State.

Said the Media Office: “Alake is certainly amongst those Lagosians who believe Nigeria begins and ends in Lagos and may not have crossed the Niger in his lifetime. He might not have been to Anambra and had been too biassed to read up the LP candidate’s records in the public domain.”

The office further reminded Alake that: “The most the media can remember about Alake’s principal is his huge internal revenue harnessing which we now know has boosted one Bourdillon family’s income.”

In answer to Alake’s question on where Obi was when Tinubu was fighting for democracy, the Media Office laughed at Alake and said: “If Alake is current, he should not have celebrated Asiwaju’s role in democracy struggle because it has been diminished since it was revealed that he lobbied to be made a Minister in late Sani Abacha’s government and only joined NADECO after he was rejected by the juntas.”

Following is the full text of the response to Alake.

“The attention of the Obi-Datti Media Office notes one groundless remark of Dele Alake, a spokesman of a presidential ticket winner. He holds that the Labour Party candidate for 2023, Peter Obi, cannot name any legacies of his years of governing Anambra State and, therefore, cannot be compared to his APC counterpart.

“Alake is certainly among those Lagosians who believe Nigeria begins and ends in Lagos and may not have crossed the Niger in his lifetime. He might not have been to Anambra and had been too biassed to read up the LP candidate’s records in the public domain.

“Suffice it to say that Obi’s records won him numerous awards, including “Governor of the Decade” while Alake’s paymaster ruled Lagos State.

“The most the media can remember about Alake’s principal is his huge internal revenue harnessing which we now know has boosted one Bourdillon family’s income.

“Alake also claimed that Obi’s business is anchored on imports that destroy the economy and that he was no where when his principal struggled for democracy.

“Again, the attack dog is either mischievous or ignorant about Obi being the only Chief Executive of his era with the most investment of state funds that not only boosted the economy, but also provided jobs. Not to talk of Obi’s education policy that has taken Anambra State from number 29 to number one in the School Certificate performance index.

“If Alake is current, he should not have celebrated  Asiwaju’s role in democracy struggle because it has been diminished since it was revealed that he lobbied to be made a Minister in late Sani Abacha’s government and only joined NADECO after he he was rejected by the juntas.

“However, Alake gave out one fact that the Media Office agrees with: indeed, Obi cannot be compared to Alake’s candidate.

“Yes, they are not comparable; Obi is highly verifiable, but Alake’s man is not; Obi has an origin; Alake’s has none; Obi has educational credentials; his counterpart has affidavits; Obi is hail and hearty and ready to face the challenge of leading Nigeria, the other candidate acts by proxy; Alake’s man says it’s his turn to rule Nigeria, Obi says it’s the turn of Nigerians to take back their country.

“Indeed,  there is no basis for comparison between the duo.

“We are in sympathy with these attack dogs who need to keep attacking the man they claim has no structure and is just a social media wave instead of selling their structured candidate. All they seek is to mention Obi to be able to trend.

“The Obi-Datti tag team is in the market with their content which is resonating with Nigerians. Let Alake’s enter the stage and sell himself. Never again will anybody become Nigeria’s President through fake and unsubstantiated packaging.

“Always remain Obidient and focused on a new Nigeria of our dreams.”

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