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Owo Terror Attack: Akeredoku Directs LG Chairmen To Float Vigilante

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Rotimi Akeredolu
Governor Rotimi Akeredolu

By Ayodele Oni

Ondo State Governor, Mr Oluwarotimi Akeredolu, SAN, has urged Chairmen of the 18 Local Government Councils in the state to set up community security guards otherwise known as Vigilantes in their respective Council Areas.

Chief Press Secretary, Richard Olatunde in a statement on Wednesday, said that the Governor believes that it will enhance security at the grassroot level.

The Governor added that the Ondo State Securtiy Network Agency otherwise known as Amotekun Corps, would be of assistance in the training of the Vigilante for effective security of their respective domain.

Governor Akeredolu spoke while playing host to the Chairmen of Councils in the state who came on a condolence visit, over the last Sunday gunmen attack on St Francis Catholic Church, Owo.

He stressed the need for every Local Government to have its vigilante to complement the efforts of the Amotekun Corps and other security agencies in the state

“We have a challenge, so sit down among yourselves and work out how to have Local Government Vigilante in your area just like we now have Amotekun in the state.

“There is nothing stopping you from using all you can to secure your areas.”

Governor Akeredolu assured the people of the state that his administration would remain undeterred and unwavering in its resolve to fight for justice and equity.

The Governor described the Owo attack as a tragic incident beyond any sense of decency and a serious assault on humanity.

“You can’t fathom what this mindless terrorists did in that church. It’s not possible for you to imagine it until you are able to get there.

“To make matters worse if you have opportunity of visiting the hospital facilities where a couple of victims who are being treated, you cannot but weep.

“I can not still fathom the reason behind the attack. Are they antichrist? I don’t know why they went into the church to kill.

“Are they anti-Catholic? Are they anti-Owo that they choose to come to Owo ? One can not understand it.”

Earlier, The ALGON Chairman in the state, Mr. Augustine Oloruntogbe condoled the Governor and the people of the state, particularly the people of Owo and the victims on behalf of his colleagues.

He noted with satisfaction the performance of the Governor in all facets of governance particularly in the security sub-sector which had earned the state the peace it has enjoyed before the regrettable incident.

“You have been decisive about the issue of security, you don’t take the life of your people for a play, you are always serious about security of life and property of the people of Ondo State”

“We are here to affirm our believe in you and your government, on behalf of the people at the grassroot across the 18 Local Government of Ondo State.

“We are speaking on behalf of the Obas who are working with us at all the various Local Governments,  I can assure they are solidly behind you on the issue of security, you have done well Sir.”

Mr. Oloruntogbe assured the  people of the state and Governor Akeredolu that the council bosses will continue to ensure that efforts of the present administration towards ensuring adequate security of life and property at the grassroot level are sustained.

First Bank: Otedola Shakes Nigeria’s Oldest Bank After Selling N9bn Shares

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By Tosin Olatokunbo

First Bank shares price plunges on Wednesday following the decision of business mogul’s Femi Otedola to offload a huge chunk of his shares from Nigeria’s oldest bank.

From N13 per share, the share price of the premier bank in the country fell to N10.99 as fears loomed in the sector that panicky investors could respond negatively to the situation. As a result of what is going on, investors of the bank have already lost close to N13 billion.

First Bank Holdings Plc, the owner of First Bank announced on Tuesday that Otedola has sold more than 800 million shares valued at over N9billion he owns in the bank.

The development came barely few months after the businessman purchased over seven per cent of the total shares of the bank, thus setting off an ownership tussle with the former majority shareholder Hassan Odukale, the chairman of the Holding company.

The ownership tussle was finally settled by the bank after it announced, earlier this year that Otedola has become the largest single shareholder after upstaging Odukale who owns less shares.

According to checks from the Nigerian Exchange, NGX Otedola and his other entities sold about 834,939,764.00 units representing about 30 per cent of his shareholdings in the bank holding company.

The sale, the Exchange said has also reduced Otedola shares from about 7.5 per cent to about 5.24 per cent, indicating that the business man has offloaded 2.3 per cents within 72 hours.

Those watching what is going informed the magazine that Otedola may have made a u-turn in his earlier quest to become one of the biggest investors in the banking sector in the country. Others said he may not be unhappy with the fact that he has not been allowed to take full control after acquiring the largest stocks in the bank

Recall that Otedola had denied allegation that he was planning to take over the board of the bank. Critics had claimed that that is the reason why he acquired a large chunk of the bank’s  stocks within a short period. Otedola responded to the suggestions:

“I am simply an investor who saw an opportunity in the financial institution and decided to take advantage of it through the investment I have made. My interest, contrary to speculations is not to become chairman of the bank or its Holdco. Moreover, I am in semi-retirement. Being the single largest shareholder doesn’t mean I must necessarily hold a position in the bank. I believe in allowing competent people run institutions in a professional manner and to the benefit of all the stakeholders,” he said.

Until recently, Otedola has pumped over N45 billion  to attain this dominant position in the bank.

How Outcome Of APC Presidential Primary Will Affect Ekiti Gov Election

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APC Presidential Result

By Ayodele Oni

With the Presidential primary of the ruling All Progressive Congress, (APC) concluded and the victory pendulum tilted to Bola Tinubu, National Leader of the Party, the next focus now is the Ekiti state Governorship election.

The Independent National Electoral Commission, (INEC) has fixed 18th June for the poll with 16 political parties cleared to contest.

The first litmus test of the APC Presidential flagbearer will be how to consolidate his victory by delivering Ekiti state for his party come June 18.

With the way the Presidential primary went, especially the last minute realignment among the aspirants which saw Governor Kayode Fayemi stepping down to pave the way for Tinubu’s emergence, there is no doubt that this will reflect in the Ekiti poll.

Before the Presidential Primary, supporters of Tinubu in the State, under the name South West Agenda(SWAGA) being led by Senator Dayo Adeyeye were in the camp of the candidate of the Social Democratic Party, (SDP) and former Governor of the state, Chief Segun Oni.

Adeyeye, though still claims to be a member of the APC, and  Chief campaigner for Tinubu for President, parted ways with Fayemi and his Government following the way he was removed from the National Assembly.

He had won election to represent Ekiti South at the green chamber three years ago. He was even inaugurated as a member of the 8th assembly untill his removal by the Court of Appeals, which gave his victory to his opponent in the election, Senator Biodun Olujinmi.

Dayo Adeyeye believed Governor Fayemi had a hand in his defeat at the court and had since surreptitiously pulled out his supporters from the APC.

He was being touted as a running mate to the SDP candidate after he lost out in the APC Governorship primary, but concentrated his efforts on the Tinubu project.

With Tinubu’s victory, a realignment of forces within the next few days before the election is imminent, as already members of SWAGA who are divided and scattered in the SDP and African Democratic Congress, (ADC) are expected to return to their root, which is APC to ensure the victory of its candidate, Abiodun Oyebanji in June 18.

Tinubu was earlier fingered to be among the financiers of the SDP candidate in the state. It was even being rumoured that one of the plan B for Tinubu was his possible defection to SDP if he lost out in the APC primary.

Even the Presidential bid of Dr Fayemi, made the APC national leader to distance himself from the politics of Ekiti state to the extent that aspirants that sought his support before the primary were given cold treatment by Tinubu.

But another trend to the issue is that Prince Adeyeye seems not to be in a hurry to forgive Fayemi, going by his statement released immediately after the national convention.

He is still embittered and wants to ensure that he truncates the victory of the APC Governorship candidate in the state.

Hear him,  “It has been brought to the notice of Senator Adedayo Adeyeye about the fake news spreading around about the endorsement of one Abayomi Oyebanji for Governor.

“While the news should not have been given utmost priority, it becomes imperative to make it clear to the people of Ekiti State that the information is false and that it was generated from the pit of hell.

“Therefore it should be disregarded and thrown into the dustbin of irrelevance.

“The good and conscious people of Ekiti State will recollect that in an attempt to ensure we reposition the South West Agenda SWAGA’23 for the task ahead, Senator Adedayo Adeyeye was removed from the Senate just because of his passion, love and support for Asiwaju Bola Ahmed Tinubu.

“I wish to inform all Ekiti Indigenes that Adeyeye’s victimisation was to ensure some selfish and devil sent politicians perpetually put Ekiti State into bondage.

“Hopefully, the victory of our Leader Asiwaju Bola Ahmed Tinubu will rework the ethics of the party and ensure sustainability of rule of law.

“I, therefore, plead to all Ekiti SWAGA members to continually keep the spirit alive, remain focused, dedicated and resolute till the mandate for a new Ekiti is delivered.

“We have not for a day forgotten the wicked and draconic act of those who daily worked against the interest of the party in Edo State, went out of the party hierarchy to do that which pleases them for selfish reasons.

“The members of Ekiti SWAGA are not unaware of the drastic position taken to humiliate, victimize and oppress their activities before, during and after Ekiti Governorship primaries like they are not members of the APC long before now. Why now the call on SWAGA?

“The mandate for a new Ekiti is non negotiable as negotiating Ekiti for political relevance is like negotiating the future of our unborn kids which I will not be part of.

“It is our collective responsibility to protect the Heritage that binds Us together and that will be our guiding principles for the prosperous future of generations coming behind.

“Conclusively, the freedom of Ekiti is long overdue, and I can assure you all that it is not negotiable and will never be negotiated.”

It was signed by one Yomi Abegunde, Director of media and Publicity on behalf of Adeyeye.

Even with this, political observers in Ekiti still believe that with Tinubu as a candidate, his supporters will have no choice than to return to APC fold and work for the victory of the party’s candidate.

Osinbajo Bows, Concedes Defeat, Congratulates Tinubu

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Bola Tinubu and Yemi Osinbajo

By Adesina Soyooye

Vice President Yemi Osinbajo has conceded defeat  to his former boss, Asiwaju Bola Tinubu.

Osinbajo conceded even before the result was officially announced.

He had, earlier, stormed out of the Eagle Square venue of the Primaries when he saw the handwriting on the wall.

At the All Progressives Congress Presidential Primaries just concluded in Abuja Wednesday morning, Tinubu beat all the aspirants  by a very wide margin.

He scored a total of 1,272 votes to win. The second place went to the immediate past Minister for Transportation, Chibuike Amaechi.

Osinbajo  surprisingly came a miserable third, with a score of 235 votes, putting a question mark on his relationship with his South-west people and APC Governors.

In a congratulatory statement on his Facebook page the Spokesperson to Osinbajo Campaign Organisation, Richard Akinnola,  said in a contest, there must be a winner.

Akinnola:

“Congratulations, Asiwaju Tinubu, the presumed winner of the primaries.

“In any contest, there must be a winner. However, I’m very proud of my choice of support in the person of Prof. Yemi Osinbajo.

“I have no iota of regret over my support for him. It was a privilege to play a pivotal role for him during the process. I would gladly do it over and over again. It’s a matter of conviction.

“And for all our supporters and other volunteers who worked assiduously, day and night on the PYO project, God bless you all. I’m so proud of all of you.

“As l often say, God rules in the affairs of men and He has a purpose for what just happened.

“Understandably, many of you are dispirited and downcast but do not let your heart be troubled. There must be a reason God allowed this. It may not be manifest to us now but later as He is all knowing.

“I’m unfazed, unbowed and proud of PYO. Our supporters, abeg, make una shake it off. No be say person die, Life goes on. No yawa.”

Access Bank Inches Towards Africa’s Top 5 After Acquiring Kenyan Bank For $37m

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By Tosin Olatokunbo

The Group Managing Director of Access Holdings Plc, Herbert Wigwe has disclosed that the corporation is poised to increase its banking subsidiaries across the Africa.

Wigwe spoke on the back of an agreement reached by Access Bank, the group’s banking subsidiary with Centum Investment Company Plc (‘Centum’) for the acquisition of the entire 83.4 per cent equity stake held by Centum in Sidian Bank Limited.

The agreement is still subject to the approval of Nigeria’s Central Bank, CBN and Kenyan Central Bank, sources in the bank said.

With the acquisition, top players in the sector insist that the financial behemoth is on its way to becoming one of Africa’s top five banks.

“The growth transaction being implemented in Kenya represents the relentless focus and execution of our strategic objectives within our banking subsidiary even as we grow the other businesses within Access Corporation’s core segments.

“The acquisition of Sidian is a significant step-up in scale and potential for Access Bank in Kenya which represents the largest market and trade corridor in East Africa.

“The significant increase in scale and customer base presents us with enormous opportunities to support growth in the various ecosystems we are building in our trade and payment business. The economies of scale that derive therefrom will continue to drive and enhance contributions to all stakeholders,” Wigwe said.

According to a statement signed by Sunday Ekwochi, Company Secretary, the transaction signed with the Kenyan firm is worth N15 billion or $37 million.

The details of the agreement indicate that Sidian will be merged with Access Bank’s subsidiary in Kenya, Access Bank Kenya. This is to create a stronger banking institution better positioned to serve Kenya market, according to the statement.

In the last two years, the African lender has inched towards becoming one of the continents’ biggest banks following its slew of acquisition across Africa’s major business capitals.

Wigwe who was recently promoted to his currently position has disclosed that the aim of Corporation is to become one of Africa’s top five by 2027.

“By 2027 Access Bank must be among the top banks in Africa. Access has 50 million accounts are not creating a pan-African bank, we are creating a global brand. We’re like number 12 on the continent today, and we hope to be close to number five by 2027,” he said in March.

In 2020, the bank acquired Grobank Limited, a South African bank after it paid $60 million for the controlling share of the 74-year-old bank.

It was the third acquisition within eight months, after the bank had earlier taken over Kenya’s Transnational Bank in July and later Zambia-based Cavmont Bank.

As Nigeria’s biggest bank by asset, the bank had also acquired a bank in Cameroon, with the aim to expand to eight other markets in Egypt, Ivory Coast, Senegal, Morocco Angola, Namibia, Algeria and Ethiopia.

“The target is to bring Access Bank to 20 countries within few years,” a source told The Source magazine while speaking on the recent acquisition.

My Party Failed Me – Emeka Nwajiuba

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Emeka Nwajiuba

By Emeka Nwajiuba

STATEMENT OF APPRECIATION AND THANKSGIVING

  1. Good morning compatriots.

 

  1. I am issuing this statement after a careful review of our campaign for the presidential ticket of the APC.

 

  1. First, I thank our Almighty God, creator and giver of all things, for the gift of everything we are or have. I then will thank all of the many persons, those a far and those around, who through personal services, prayers, texts, advise, financial gifts, donations, and numerous other means, encouraged me.

 

  1. I thank my Family, who have endured my incessant derision of their preference for a less public and risky, lifestyle.

 

  1. I thank all my friends, well wishers and even those who may not wish us all that well, but have played their parts in the National discuss.

 

  1. I would urge that no one should be despondent or disappointed. My approach to the Nigeria presidency, is hinged on being able to present a progressive vision of an inclusive, united and focused brand of energy to transform Nigeria into a wholesome economic power house, whose citizens will be better secured to live more fulfillingly.

 

  1. I choose to take the tedious path of following the law, meeting requirements and staying disciplined, in other to sell a paradigm of same.

 

  1. I appreciate all the sacrifices of time, resources and emotions that have been invested by so many persons, young and old, near and afar in this tedious path.

 

  1. I and almost all other aspirants agreed to a consensus approach to the selection of our candidate, to effectively maintain the outlook of a progressive family ,away from an all for money by highest bidder image, which had already been assigned to another political party.

 

  1. I and other aspirants now of the south east, wrote the leadership of our party to appreciate the commitment to move the presidential ticket to the south, and requested a further deepening to the southeast to reflect our primary reason for seeking the office, which remains, “to build a more united and inclusive secured and prosperous nation.” This much has been captured in the communique south east aspirants issued on 22nd May, the speeches of Mr. President at his meetings  with APC Governors, that of aspirants and of stakeholders.

 

  1. Following the failure of all these entreaties, it became clear that the convention was headed away from these lofty ideals I subscribe to and will still pursue. I therefore declined to attend.

 

  1. These ideals reflected in what some of the south east aspirants who choose to attend referred to in their pleas for Justice, or need to constitutionally require it, in the face of the absence of conscience. Even their elderly wailing on national television could not move a vote, if I had shouted same in a more youthfull voice, it may have become inciteful in face of our current security difficulties in the southeast and may thus spite our efforts. Better to stay out.

 

  1. I am committed to pursuing the ideals of a more united, inclusively secured prosperous nation for us all, lending to our dear country, its citizens and those who may be positioned to use it, the experiences acquired, lessons learnt and the various matrix that I may bring to bear.

 

  1. I am gratefull for the opportunity to engage all strata of our society, all cadres of of leadership both in our party and our country. I appreciate the luxury of your various audience, in sharing this message.

Thank you all , so very much.

Hon. Chukwuemeka Nwajiuba  08.06.22

Why Emeka Nwajiuba Boycotted APC Presidential Primaries – Brother, Professor Nwajiuba

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Professor Chinedum Nwajiuba

By Gideon Njoku

He, did not want to be part of the Dollar and Naira bazaar -Professor Nwajiuba

For those wondering why the immediate past Minister for State, Education, Emeka Nwajiuba, and a Presidential aspirant under the All Progressives Congress, APC was absent at the Presidential Primaries, wonder no more.

From his brother, Professor Chinedum Nwajiuba, an explanation has come.

Even though many people were taken aback when he declared interest in the office of the President, Emeka Nwajiuba showed a strength of character once he made up his mind to run.

He was amongst the first to pay the sum of N100m for the Expression of Interest and Nomination forms. Taken to task on how he was able to afford it, he was the only aspirant who tried to explain how. He sold thousands of yam tubers, it was gathered, and added to the donations from hundreds of people and interest groups who believed in his ability.

And, long before President Muhammadu Buhari asked his cabinet members interested in elective offices to quit their positions, he had, on his own, resigned, and  earned commendation from the President who recommended him to his colleagues, a number of who were reluctant to resign.  They wanted to eat their cake and still have it.

However, a number of people began to sense that things were not quite right when Nwajiuba was absent at the valedictory session for departing Ministers. There was no explanation. The climax was his absence at the Primaries.

According to his brother, Professor Nwajiuba, the former Minister boycotted what he stopped short of calling a charade and an injustice against the South-east. He was disillusioned and disappointed at the turn of events.

The Professor said his brother entered the race with the understanding that the Presidential ticket was to come to the South-east.

“The understanding from the highest levels prior to his involvement, and considering his role in the founding of the APC, was that of consensus as was with the National Chairmanship a few months ago.”

With that understanding, he thought it would go to his Zone, the South-east.

Said Professor Nwajiuba:  “This has been the hope till the end of negotiations. He, not wanting to be part of the Dollar and Naira bazaar, is convinced that what Nigeria needs now is no more of the same thing that has kept Nigeria at the low level it has been.”

Following, Professor Nwajiuba’s explanation of Emeka Nwajiuba’s boycott of the APC Presidential Primaries.

“Many friends are calling to find out why my brother, Dr. Hon. Chukwuemeka Nwajiuba did not come out to address the APC convention.

“Simple: The understanding from the highest levels prior to his involvement, and considering his role in the founding of the APC, was that of consensus as was with the National Chairmanship a few months ago.

“With that understanding, the Presidential ticket was to come to the South, and the southeast.

“This has been the hope till the end of the negotiations. He, not wanting to be part of the Dollar and Naira bazaar, is convinced that what Nigeria needs now is no more of the same thing that has kept Nigeria at the low level it has been.

“Our challenges as a country cannot be addressed at the same energy  level by which they were created

“God order our footsteps towards a better life for all Nigerians.

God bless you.

“Prof. Chinedum Nwajiuba,

Umuezeala-Nsu,  Imo state, Southeast, Nigeria”

APC: It’s Bola Tinubu By A Wide Margin!

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By Gideon Njoku

Unless the biblical miracle comes to play, there is no stopping Asiwaju Bola Tinubu from clinching the ticket at the Presidential Primaries of the All Progressives Congress, APC.

It is like a tsunami.

As at 11.30am Wednesday, June 8, Tinubu has garnered a total 1, 013 votes, thus making kindergartens of the other aspirants.

His closest  rival, the immediate past Minister for Transportation, Chibuike Amaechi, had 212 votes, while his third rival, Vice President Yemi Osinbajo comes a distant third with 155 votes.

It is quite obvious that the 2023 Presidential race will be between four candidates – Bola Tinubu of the All Progressives Congress, APC, Atiku Abubakar of the Peoples Democratic Party, PDP, Peter Obi of the Labour Party, LP and Rabiu Kwankwanso of the New Nigeria Peoples Party, NNPP

 

Hereunder the scores from the APC Presidential Primaries as at 11.30am.

 

Bola Ahmed Tinubu 1013

 

Rotimi Amaechi 212

 

Yemi Osibanjo 155

 

Ahmed Lawal 79

Yahaya Bello 25

Dave Umahi 10

Ben Ayade 14

Ahmed Sani 2

Sani Yerima 1

Void Votes 8

 

The final result is being awaited. But there is victory song already.

2023: APC Muslim-Muslim Ticket Imminent As Tinubu Set To Win

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Bola Tinubu and EFCC Case

By James Orji

The National Leader of the ruling APC has been projected to win in the ongoing party’s Special National Convention in Abuja, the nation’s capital.

The emergence of Tinubu a former Lagos state governor would present the ruling party in a very difficult situation of fielding two Muslims as President and Vice President for the 2023 presidential election, close watchers of political development say.

The reason is that the North where the running mate to the party’s presidential candidate is expected to come from is predominantly Muslims. Any attempt by the party to pick a Christian as vice presidential nominee, analyst insist could spell doom for APC planning to hold on to power next year.

In 1993, the Social Democratic Party, SDP paired business mogul, Bashorun Moshood Kasimawo Abiola and Babagana Kingibe in the election that the party later won. But Abiola was not allowed to rule due to the cancellation of the election by then dictator General Ibrahim Babangida.

Since then, political parties have avoided a situation where the president and his vice are from the same religion due to the religious polarization in the country.

For instance, the incumbent President Muhammadu Buhari is a Muslim from the north while his vice, Prof. Yemi Osinbajo is a Christian from the south.

While the PDP presidential candidate, Atiku Abubakar is expected to pick a Christian running mate from the south, it would be a different ball game for Tinubu who is expected to win the APC presidential ticket.

Considering the circumstance surrounding his emergence, Tinubu will have no option than to look to the core north, for instance, to pick his running mate.

It’s not yet clear who his running mate would be, but sources in the APC told the magazine that the party would be looking towards the North east for a running mate for Tinubu.

“The North is predominantly Muslims, therefore, any attempt to choose a Christian running mate will not help the party. The north will be forced to pull its block votes for the opposition if this happens,” a source in the APC said.

This will definitely be unacceptable to Christians in the country who have accused Northern muslims of power dominance.

For instance, the Niger State Youth Wing of Christian Association of Nigeria, CAN had warned three weeks ago, that it will vote against any political party that fields a Muslim/Muslim ticket in the forthcoming general election

Lona Emmanuel, the leader of the group had called “on all political parties in Niger state to as a matter of necessity field Christian candidates as either substantive or deputy positions and reasonable appointive offices.

“As equal stakeholders in Niger state who are concerned about the development of the state, we are ready to mobilise Christians not to support and vote massively for any political platform that will not recognize them as equal stakeholders by presenting the same faith ticket for the forthcoming general elections.

“Since the return of democracy, there has been a religious biased root amongst the political class that has sidelined Christians from Governance and administration of the state. This we believe has led to the gradual reduction of the government’s impact in the state.”

“We, therefore, bring to the notice of all the political parties in Niger state and the well meaning stakeholders to ensure a fair spread of political participation with Christians across Niger state as opposed to the demand of major political parties at the moment.

“We are convinced that whichever party gets the bulk of Christian votes will without a doubt carry the day. What we are demanding is not new in our country where we practice the quota system,” Emmanuel said

But the Nigerian Supreme Council of Islamic Affairs, NSCIA, the umbrella body of Muslims in the country led by the Sultan of Sokoto, Saad Abubakar has played down fears that a Muslim-Muslim ticket could cause problems in the country. The NSCIA said power belongs to God who gives it to whoever he wishes.

According to the Director of Administration, NSCIA, Zubairu Ugwu, “As Muslims, therefore, we have no choice but to continue to supplicate to Allah to grant that only Nigerians who possess the requisite capacity, integrity, sagacity, empathy, positive attitude, passion, administrative acumen, zeal for selfless service, etc., shall eventually triumph at both their respective party primaries and subsequent general elections, at all tiers of government in Nigeria.”

But responding to the issue on Tuesday, after a viral text message alleging that he intended to pick a muslim running mate after wining the APC presidential primary, Tinubu said he has not made up his mind.

He said the party will not jump the gun, but will cross the bridge when it’s time to decide who his running mate should be.

“We have been informed of a text message going round APC delegates at Eagle Square, Abuja purportedly from Asiwaju Bola Ahmed Tinubu, claiming that with his imminent victory at the APC Presidential Primary and emergence as the party’s presidential candidate, the APC leader has now decided on a Muslim-Muslim ticket,’ Tinubu said on his official twitter page.

“This is nothing but a lie. It has no basis whatsoever. We enjoin the distinguished delegates to ignore this completely.

“The fake text message is a ploy by some undemocratic elements to confuse and hoodwink delegates sensing that Asíwájú Tinubu is comfortably coasting home to victory.

“Truth is Asíwájú is destined for victory and no one can scuttle this through their shameful tactics.

“Asíwájú is not known to jumping guns. He will deal with all important matters pertaining to his presidential pair at the appropriate time, after his victory has been fully established by the distinguished delegates.”

Buhari’s Govt Borrowed Over N2trn In 3 Months – DMO

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By James Orji

The Debt Management Office, DMO says Nigeria’s debt rose from over N39 trillion in December to over N41 trillion in March this year, a difference of over N2 trillion.

The DMO disclosed this in a statement posted on its website on Monday.

The statement read in part, “The total public debt stock as at March 31, 2022, was N41.60tn or $100.07bn, according to the Debt Management Office.

“The amount represents the domestic and external debt stocks of the Federal Government of Nigeria, the thirty-six state governments and the Federal Capital Territory. The comparative figures for December 31, 2021, were N39.56tn or $95.78bn.”

The debt office said the total public debt stock includes new domestic borrowing by the FGN to partly finance the deficit in the 2022 Appropriation Act, the $1.25bn Eurobond issued in March 2022 and disbursements by multilateral and bilateral lenders.

It said the total public debt to GDP is now 23.27 per cent, which is below Nigeria’s self-imposed limit of 40 per cent.

The Office revelation comes amidst concern among Nigerians that the current government has incurred more debt than previous administrations in the country.

The nation’s total debt in 2015 when President Muhammadu Buhari took power was barely N10 trillion.

In spite of the growing frustration over the implications of the rising debt for the nation’s future, the government has maintained that it has no other option than to continue to borrow to fund critical infrastructure in the country.

Apart from Nigerians, development partners such as the IMF, World Bank, AfDB and others has also expressed their dissatisfaction with Nigeria’s high debt profile.

Two weeks ago, the IMF’s Resident Representative for Nigeria, Ari Aisen, again expressed worry over the nation’s worsening debt situation.

Aisen had warned that, with the manner the debt is growing the Nigerian government may have to spend nearly 100 per cent of its revenue on debt servicing by 2026.

The Bretton Wood United States of America, USA based world financial institution said the Nigeria government currently spends 89 per cent of its revenue to service debt.

The IMF chief said “I think the biggest critical aspect for Nigeria is that we have done a macro-fiscal stress test, and what you observe is the interest payments as a share of revenue and as you see us in terms of the baseline from the federal government of Nigeria, the revenue, almost 100 percent, is projected by 2026 to be taken by debt service,” the IMF official said.

“So, the fiscal space or the amount of revenues that will be needed, and this, without considering any shock, is that most of the revenues of the federal government are now in fact 89 percent and it will continue, if nothing is done, to be taken by debt service.”