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Enugu State Debt Rises To N83bn; Becomes One of the Most Indebted States

By
Bayo Bernard
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By Fola James

Enugu state position in the league of most indebted states in Nigeria has risen with the approval, on Thursday, by the state house of Assembly N15 billion loan request by the Governor Ifeanyi Ugwuayi-led administration.

According to figures obtained from the Debt Management office, DMO the state government loan liability has ballooned to over N83 billion from N68 billion, making it one of the highest debtor states among the 36 states in the country. The state currently occupies number 13 position.

The loan request was contained in a letter to the house read by the Speaker, Chief Edward Ubosi, during Thursday’s plenary.

Ubosi said the loan would be used to finance infrastructure development in the state.

He said that government was finding it difficult to finance infrastructural projects due to the current economic challenges.

The speaker said the facility, which would domicile in United Bank for Africa, had 10 years repayment plan of nine per cent per annum, with 12-month moratorium.

Governor Ugwuanyi stated in the letter to the Assembly that the CBN infrastructure finance loan, when accessed would assist in carrying out major infrastructural projects across the state.

Contributing, Mr Paul Nnajiofor, representing Nkanu East, said the loan was not contentious as it would help the state government to fulfil its promise to the people.

Nnajiofor said that he supported the loan, considering that it was tied to the completion of the ongoing projects in the state.

Other lawmakers who spoke said the loan became necessary to enable the current administration to complete ongoing projects and also initiate new ones.

Not a few Nigerians have expressed serious worries over the rising domestic and foreign debt by state governments in the country.

According to the Domestic and Foreign Debt Report 2021 obtained from the National Bureau of Statistics, NBS which the domestic debt data for the 36 states of the federation as of March 2021 indicates that the total debt stocks of the 36 states stood at over N4 trillion, with Lagos leading with N507 billion debt, Rivers follows with N377 billion, while Akwa Ibom has N232 billion; Delta is next on the debtors’ list with N213 billion.

The fifth indebted state is Cross River with N162 billion, followed by Ogun with N156 billion; seventh is Bayelsa with N142 billion and then Plateau with N134 billion. Osun is ninth wih N133 billion and Benue is 10th state with N128 billion. The total debt of the 10 states is more than N2 trillion.

The least indebted state is Jigawa State with N31 billion, according to the report.

Internet Fraud: Osinbajo Speaks On N75bn Youth Empowerment Fund

By
Bayo Bernard
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0

By James Orji

Professor Yemi Osinbajo, Nigeria’s Vice President has urged youths in the country to take advantage of the N75 billion youths empowerment fund established by the federal government rather than engage in internet fraud better known as Yahoo, yahoo.

Osinbajo gave the advice on the back of the surge in the number of youths arrested by the Economic and Financial crimes Commission, EFCC over internet related fraud.

Last month, two youngsters, Garuba Majeed Opeyemi and Olawoyin Pelumi Muhktar, were sent to jail by Justice Bayo Taiwo of the Oyo State High Court, Ibadan for committing internet fraud.

The duo was prosecuted by the Ibadan Zonal Office of the Economic and Financial Crimes Commission, EFCC on amended one-count charge of obtaining money by false pretence, contrary to Section 1 (1)(a) of the Advance Fee Fraud and (Other Fraud Related) Offences Act, 2006, and punishable under Section 1 (3) of the same Act, to which they pleaded guilty. The convicts pleaded guilty to the offence following which they were sentenced accordingly by the judge.

The Vice president said the administration “has established a N75 billion National Youth Investment Fund. This provides financial support for small businesses in any field,” Osinbajo said while delivering the first convocation lecture of Kola Daisi University, Ibadan, Oyo State on Thursday, warning that youths to desist from fraudulent practices that could land them in jail.

He said many Nigerian youths have turned their lives around by engaging in legitimate businesses, urging the graduands to embrace integrity and character.

The days of internet fraudsters “are always numbered. They will go to jail one day. What is the point of making money when you can’t sleep well at night?’ he said.

The vice president noted that, “the point is that of all the examples I have given, not one had wealthy parents. All of them did most, if not all, their education, here, in Nigeria.

“So, it is important for us to bear in mind that a Nigerian education is an important credential because you understand the terrain and you understand the law of the land. But you must find out about the support available either from the private or public sector. For example, the Federal Government has established a N75 billion National Youth Investment Fund. This provides financial support for small businesses in any field.

“The Central Bank of Nigeria has also established the creative sector funds, mainly for young people in technology and entertainment. There is also the new programme called Investing in Digital and Creative Enterprises, with over $600 million to support young technology and creative entrepreneurs and other entrepreneurs through the provision of finance, skill development and infrastructure.”

Osinbajo further stated that “earlier, this year, the Federal Government partnered with the United Nations Development Programme, UNDP and the private sector to start a programme called the Jubilee Fellow Internship Programme for the next five years.

“Every year, 20,000 students, after youth service, will be given internship opportunities in private sector companies and public agencies. The idea would be for the participants to gain relevant ideas and life skills that will enable them transition seamlessly into a professional business or public sector career while also earning a good pay during the internship.”

CBN Spends A Whopping N58bn To Print Naira Notes

By
Bayo Bernard
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By Fola James

The Godwin Emefiele-led Central Bank of Nigeria, CBN said it has cut down the cost of printing naira notes after spending over N58 billion to print N2.518 billion Naira notes last year. The apex bank said it has been making serious efforts to cut down the cost by establishing other payment channels, one of which is the recent introduction of the Central Bank Digital Currency, CBDC also known as the e-Naira.

The apex bank revealed that the notes were printed in the country by the Nigerian Security Printing and Minting Plc, NSPM Plc.

The government bank disclosed this in its 2020 Currency Report posted on its website on Thursday, noting that the cost of printing naira notes has reduced in the past two years.

For instance, the report indicates that N75.5 billion and N64.0 billion spent by the CBN for the printing of currency in 2019 and 2018 respectively.

According to the report, “the total cost incurred on printing of banknotes in 2020 amounted to N58.6 billion compared with N75.5 billion in 2019. This indicated a decrease of N16.9 billion or 28.84 percent.”

“The CBN approved 2.518 billion pieces of banknotes of various denominations in 2020 to satisfy the currency needs of the economy compared with 3.830 billion in the preceding year.

“The NSPM Plc was awarded the contract for the production of the entire indent. At end of December 2020, NSPM Plc had delivered 100 percent of the approved indent.”

The apex bank also put the total stock of currency (issuable & non-issuable) in its vaults at the end of December 2020 at 2.747 billion pieces compared to 2.641 billion pieces in 2019. This indicated an increase of 105.73 million pieces or 4.0 percent.

“At end of December 2020, the total issuable notes (newly printed notes and Counted Audited Clean notes) was 592.94 million pieces compared with 726.43 million pieces in 2019, representing a decrease of 133.49 million pieces or 18.38 percent,” the report stated.

Meanwhile, the apex bank has also stated in the report that Currency-in-Circulation, CIC rose by 19.06 per cent from N2.441 trillion at end December, 2019 to N2 .907 trillion at end-December 2020, noting that more efforts were concentrated in printing higher denomination notes.

“The growth in CIC reflected the continued dominance of cash in the economy. Analysis of the CIC shows that a greater proportion was in higher denomination banknotes (N100, N200, N500 and N1000).

“The higher denomination banknotes together accounted for 63.47 per cent and 98.08 per cent of the total CIC, in terms of volume and value, respectively. The volume of lower denomination banknotes (N5, N10, N20, N50), accounted for 28.43 per cent of the total CIC and 1.92 per cent, in terms of value as at end-December 2020.”

According to the report, a total of 173,585 boxes of banknotes valued at N980. 758 billion was processed last year, compared with 260,651 boxes of banknotes valued at N1. 533 trillion in 2019.

This represents a decrease of 33.40 per cent in the number of boxes or N552. 971 billion in value of processed banknotes.

On counterfeit notes, the report indicated that a total of 67,265 pieces of counterfeit notes with a nominal value of N56.83 million was confiscated in 2020, indicating a 20.80 per cent decrease in volume and 12.18 per cent decrease in value, compared with 84,934 pieces valued at N64.71 million in 2019.

Four Days After, EFCC Finally Releases Obi Cubana

By
Uche Mbah
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Obi Cubana

By Uche Mbah

Four days after the Economic and Financial Crimes Commission, EFCC arrested and detained Obinna Iyiegbu, popular as Obi Cubana, he was finally released from custody Thursday evening.

EFCC Spokesman, Wilson Uwujaren, confirmed Cubana’s released Thursday evening.

It is not public, yet, the terms of his release, but speculation is that he could be invited again and/or prosecuted in a Court.

Obi Cubana was  arrested on Monday, November 1, 2921, by the anti-graft body, but apart from hints that he is being questioned over tax issues and money laundering, no specific reasons were given for his arrest.

A couple of days ago, reports of his release rent the air in the Social Media. It was reinforced by a friend of his who confirmed it. But it was later found to be false.

Sources claiming to be close to the commission had also said that he had been granted bail but was yet to meet his bail conditions.

All turned out to be false. At the time the story of his release was making the rounds, he had neither been released, nor given bail. He was still being interrogated  on issues bordering on, alleged, tax fraud, currency abuse and money laundering, speculations say.

Cubana came into limelight when he buried his mother with pomp and pageantry, literally making nonsense of money in different currencies along  with his friends.

His arrest generated lots of reactions, especially, among Igbo groups and celebrities.

Ikoyi Collapsed Skyscraper: Developer Osibona’s Body, Recovered; Three-Day Mourning Declared

By
Adesina Soyooye
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0

By Adesina Soyooye

When the News Agency of Nigeria, NAN, quoted the suspended General Manager of Lagos State Building Control Agency, LASBCA, Gbolahan Oki, as saying that the billionaire developer of the collapsed 25-storey building on Gerrard Street, Ikoyi, Lagos, had been arrested, Femi Osibona, had been arrested, Oki didn’t  have his facts correct.

Osibona was not arrested. By the time Oki said that, Osibona’s car was parked at the site of the collapsed building, and his body, buried in the rubble.

Four days after the tragedy, Osibona’s body has been recovered from the rubble, identified, and taken to the the mortuary. And it is not the only controversy surrounding Oki’s pronouncements.

While he said that Osibona was given approval for 15 floors, the Deputy Governor of the State, Dr Obafemi Hamza, contradicted him when he said the approval was for 25 floors.

Osibona had visited the site that ill-fated day of Monday, November 1, along with his female Personal Assistant identified as Nifemi, and a friend of his,  Wale Bob-Oseni  who he had invited over to the site. Bob-Oseni was on his way to the Airport to take a flight back to the United States where he resided, but first honoured the invitation of his friend. That was how he branched to the site, and same fate tied them together.

Osibona’s body was recovered at about 7.00pm on Thursday, November 4. That of his PA was recovered earlier. It is not yet known if the body of Bob-Oseni has been recovered or not.

Osibona was the Managing Director/CEO, Fourscore Homes Ltd.

As at the time of writing this, 39 bodies have been recovered. Recovery efforts are still on-going.

Lagos State Governor, Babajide Sanwo-Olu has declared a three-day mourning period in the State during which flags would fly at half mast.

Anambra Election: Why IPOB Suspended Sit-At-Home Order

By
The Source
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0

By Charles Igbo

Here is the good news for the South-east, and especially, Anambra State which Governorship election  is scheduled for Saturday, November 6.

The Indigenous Peoples of Biafra, IPOB, has called off its order of a one-week shutdown of the South-east.

IPOB had ordered the sit-at-home order which was to begin on November 5, in protest of the continued detention of its leader, Mazi Nnamdi Kanu. It said the order would hold till November 10, unless the FG released Kanu who is being tried for sundry issues, including terrorism and treasonable felony, unconditionally.

The order was going to affect, badly, not just the socio-economic activities in the Zone, but especially, the Anambra election.

But the good news, Thursday  evening, is that it has been called off. IPOB in a statement by its Spokesman, Emma Powerful, said this was sequel to the intervation of revered Traditional Rulers, elders,  and other leaders of the Igbo.

The statement dated  Thursday, November 4, said it considered the implications of the shutdown to the people and the Zone.

IPOB urged the people of Anambra to troop out and vote on November 6, 2021, without any fears.

The statement reads in parts;

“Following the genuine  intervention of our elders, esteemed traditional Institutions /Rulers and Religious Leaders, and after a due consideration of the positive impacts of their engagement, and sequel to the fact that  Our elders have spoken in our terms , the Leadership of IPOB ably lead by MAZI NNAMDI Kanu hereby and immediately CALL OFF THE ONE WEEK SIT AT HOME earlier declared to commence tomorrow, November 5 to November 10, 2021. No

“We have equally considered several appeals by our mothers who earn their living based on their daily economic activities which will obviously be affected if Biafra land is locked down for one whole week. It’s never our intention to add to the pains of our people, hence our decision to suspend the sit-at-home.

“The people of Anambra State should go out enmasse and peacefully exercise their franchise come 6th November 20121  and accordingly, chose a leader of their Choice  and should not be intimidated by anybody, group of persons or security agents.

“Anambrarians should vote and standby to protect their votes. No rigging of any kind will be tolerated on the Anambra State governorship election. It must be transparent, free and fair to all.

“We wish to thank Biafrans, IPOB members worldwide, friends of Biafra and lovers of freedom for their continued support for our dogged struggle for independence.

“May we therefore, warn detractors, traitors and enemies of Biafra not to cause confusion by imputing motives to our decision. IPOB doesn’t expect anybody to observe, monitor or enforce the suspended order otherwise such action will be considered a rebellion to the highest leadership of our global movement.

“On the other hand, our oppressors should not take our decision as an act of cowardice. IPOB still believes that our elders, religious leaders, political leaders and various stakeholders will live up to their promises in their engagements and efforts towards securing the unconditional release of  our leader.

“We, therfore, urge all Biafrans and residents of Biafra to go about their lawful businesses without fear of any molestations. All agents of darkness recruited by our enemies to inflict pains on our people under the guise of enforcing the sit-at-home are hereby warned to steer clear or brace up for the consequences of their evil action.”

Police Officer Goes Berserk, Allegedly Kills Two Over N100 Bribe

By
Akinwale Kasali
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0
Nigeria Police

By Akinwale Kasali

It was a Black Thursday for residents and business owners in the Command area of Oke Odo Local Council Development Area, Lagos State, following the killing of a young apprentice and a middle aged Tricyclists by a Police Officer attached to the Divisional Police Office in the area.

It was gathered that the Police Officer was on patrol alongside his colleagues when he stopped the Tricyclist. After checking his documents, the Police Officer allegedly demanded for N100, which the Tricyclist refused to part with leading to an argument.

The Police Officer, allegedly, out of annoyance, stabbed the Tricyclist, prompting his colleagues to intervene.

Before the Tricyclist could be rushed to the hospital by his colleagues, he died.

Noticing that the irate crowd would pounce on them, the Police Officers shot sporadically into the air to scare the crowd so as to take to their heels.

Unfortunately, a young boy,  popularly known as Smally, who is an apprentice at a Mechanic shop was hit by a stray bullet and he died on the spot.

The killing of the duo led to chaos in the area, as the irate youths, business owners and residents took to the streets to show their displeasure, halting vehicular and business activities in the area as people ran helter skelter for their lives.

Protesting the killing of the two, Youths in their hundreds, alongside sympathizers stormed the Command Divisional, with the aim of lynching the Police Officers that carried out the dastardly act.

The protesters deflated tires of the Police Van, vandalizing Police properties, with Police Officers on duty scampering for safety.

The Tricyclist was said to be expecting a baby, as his wife is heavily pregnant, while the young apprentice that also died was said to have an aged mother.

It took the intervention of Soldiers attached to the Military Base to restore normalcy to the area, as the Protesters threatened to set the Police Station ablaze.

The Divisional Police Officer of the Police Station was not around as at the time of filing this report, while the Lagos State Police Public Relation Officer, CSP Ajisebutu, promised to give a comprehensive report on the issue when he has been fully briefed.

Anambra: Criminals Using IPOB’s Name To Kill – South East Governors’ Forum

By
Uche Mbah
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0

By Uche Mbah

The South-East Governors’ Forum has asked Security Agencies posted to Anambra State to secure the elections to “play within the rules”, adding that criminals may be using the name of the Indigenous People of Biafra, IPOB to kill innocent citizens.

In a statement issued by the Governor of Ebonyi State and Chairman of the Forum, David Umahi, and made available to newsmen Thursday, the Forum said it is aware that the security situation has gone beyond IPOB.

“We plead with all security agencies deployed for Anambra election to please secure the lives of our people in Anambra State while playing within the rules of their engagements”, the statement read in part.

“We are aware that the insecurity in South East has gone beyond IPOB. Cultists, armed robbers and kidnappers have recruited themselves and are using the name of IPOB to be killing innocent citizens. We will not allow this to continue.

“We thank the Federal Government of Nigeria and the Independent National Electoral Commission for their determination to hold the Anambra election on 6th November 2021. We will give them every support and shall help them to ensure a free, fair and violence-free election. We, therefore, ask our people to go out and vote for candidates of their choice as we have been assured of adequate security measures to secure their lives and properties.

“We are confident that through our mediation, that of religious leaders, Ohaneze Ndigbo and traditional rulers, IPOB will see reasons to call off all sit-at-home orders including the recent one of 5th to 10th November 2021. We, as South East Governors, are committed to political solutions over the present situation in South East and this will be achieved faster if all the illegal sit-at-home orders and violence by the various state agitators are stopped in South East.

“We wish Anambra people a peaceful election on 6th November 2021″, it concluded.

Many people think this statement comes late. The Anambra election is about 36 hours away.

Anambra Elections: IGP Orders Restriction Of Vehicular Movement

By
The Source
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0
Usman Alkali Baba- IGP

As part of measures aimed at protecting the sanctity of the electoral process in the November 6, 2021, Anambra State Gubernatorial Elections, the Inspector General of Police, IGP Usman Alkali Baba, has ordered the restriction of vehicular movement in and out of Anambra State from 11:59PM on Friday, 5th November, 2021 to 11:59PM on Saturday, 6th November, 2021.

 According to a statement signed by Force Spokesperson, CP Frank Mba, the  IGP noted that the restriction order has become necessary following pointers from the Election Security Threats Assessments conducted by the Force which indicate a high likelihood of infiltration by criminally-minded individuals to Anambra State, before, during and after the polls. The IGP further noted that the measure would also avail security forces a firm grip of the State to checkmate the movement of political thugs and touts, and prevent the free flow, circulation and use of illicit arms and hard drugs throughout the period and beyond.

The IGP enjoined INEC officials, accredited observers and journalists, and other authorized officials to go about their lawful duties as it relates to the elections, provided they observe all relevant rules guiding their deployment including the visible display of their accreditation tags. He acknowledged that Police officers and other security personnel deployed for the election will be appropriately supervised to ensure they carry out their responsibilities in the most humane, firm and professional manner especially to emergency service providers such as fire-fighters and ambulance services.

The IGP enjoined citizens, particularly motorists and travellers who may want to use the routes within Anambra State during the period of the restrictions, to seek alternative routes and see the inconveniences as part of sacrifices toward the collective sustenance of our democracy. He called on citizens in the State to go out en-masse on the Election Day and exercise their franchise without any fear or apprehension as the Force and other security agencies are already on ground to ensure a safe and conducive environment for the elections.

However, this magazine recalls that this restriction is not exclusive to Anambra election. The IGP has always restricted the movement of motorists during such elections.

Instructively, the Indigenous Peoples Of Biafra, IPOB, had declared a one-week sit-at-home order in the South-east, beginning from Friday November 5, to November 10, 2021.

Bianca Ojukwu Vindicates Senator Andy Uba; Says Obiano Killed, Plundered APGA –SAUGCO

By
The Source
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0

Senator Andy Uba Governorship Campaign Organisation, SAUGCO has said that Mrs Bianca Odumegwu Ojukwu’s latest public declaration of vote of no confidence on Governor Willie Obiano’s leadership of the All Progressives Grand Alliance (APGA) and the party itself on the eve of the November 6 Anambra State governorship election, has vindicated its position that APGA under Obiano is not only dead but cremated by the lack of transparency and apparent urination on the  interest of the people and  the grave of its late respected   leader, Dim Emeka Odumegwu Ojukwu.

Ojukwu’s widow had on Thursday, November 4, in a public letter addressed to her late husband, entitled “Letter to Dim  Ojukwu on the upcoming Anambra election on this symbolic anniversary”, expressed disappointment at the manner “Obiano together with his locust men hijacked our political habitat APGA, and plundered and destroyed the house you toiled night and day to build…”

A statement by the Director of Media and Publicity of the campaign organisation, Hon. Victor Afam Ogene, said, inter alia: “We agree with this assertion by Mrs. Ojukwu, as it is in sync with what we have been telling ndi Anambra overtime that the soul of APGA has been buried in the cesspit of Governor Obiano’s nepotism, greed, self interest and insensitivity.  So, when he and his cohorts say: nkea bu nke anyi, know it is  only a gimmick to continually enslave you.”

We feel the pain of many former and current APGA faithful who have continued to suffer in the hands of Emperor Obiano and his cronies; we totally understand the anguish of Mrs. Ojukwu, when she stated in the letter, “They enthroned injustice and impunity, robbed their brethren and sent many to early graves.

“Ikemba Ndi Igbo, you stood for justice and equity, and fought relentlessly for the protection of your people, for the poor and the downtrodden …yet, these party leaders always chose to play dumb in any critical issue affecting our people , neither did they condemn the unjust  imprisonment and wanton killings of their Igbo brothers,” Bianca Odumegwu Ojukwu said.

For Senator Uba, “it is sad that Governor Obiano didn’t only exhibit this crass insensitivity over the past eight years, but is also planning to foist another insensitive, arrogant and rude Charles Soludo, who recent developments have exposed to also be a liar of unparalleled proportion.

“Anambra state does not deserve an insensitive lying person as a governor. And Soludo has been proven to wear both inglorious caps.

Governor Willy Obiano of Anambra State
Governor Willy Obiano of Anambra State

“At the recent debate by governorship candidates, Soludo lied on national television that Senator Andy Uba didn’t recommend him to former President Olusegun Obasanjo for appointment as Governor of the Central Bank of Nigeria. But this has proven to be a lie.”

In deed, a royal father, HRH Igwe PC Eze ( The Abirikete of Umunze), Anambra state, who accompanied Soludo to the Presidential Villa on a thank-you-visit soon after the appointment was announced, was quoted on record, to have recalled:”When I led the OAU(Old Aguata Union) delegation to the villa to thank Obasanjo for appointing Charles Chukwuma Soludo the CBN governor, on the request of Soludo, Obasanjo told us before Soludo, to rather thank Senator Emmanuel Andy Uba who convinced him to appoint Soludo the CBN governor “

Senator Uba, who wished Dim Odumegwu Ojukwu a posthumous birthday, assured all those who believe in the late Ikemba’s insistence on the rightful place of the Igbo in the Nigerian federation, that with his Igwebuike message, the people of Anambra, nay the South east, would soon regain their preeminence in the scheme of things in Nigeria – and to achieve this laudable goal, we must keep professional liars like Professor Soludo far from the inner recesses of power and leadership.

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