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Abia: Dismissed LG Workers Storm NUJ Secretariat

By
Uche Mbah
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By Uche Mbah

Dismissed Local Government workers of Abia state have stormed the secretariat of the Nigeria Union of Journalist in Aba, Abia state, to beg Governor Okezie Ikpeazu for reinstatement.

The workers were employed by Abia State government in 2019, but dismissed in January 2020.

The workers, in their hundreds, stormed the secretariat of the Nigerian Union of Journalists, NUJ, Aba, with placards with different inscriptions on them.“Please don’t push us back to the streets, “please confirm all 2019 LG workers, “we were suspended when it was time to confirm our appointments.”

According to them, they became alarmed when the State Local Government Service Commission released a list of 250 newly employed council workers without their names.

Their spokesperson, Okezie Njoku, said that they were employed on probation but never received any salary.

“After one year, the salary started coming which lasted for 11 months and stopped again. Since January 2021, we’ve not been paid any money.

“They said they’ll look into it and get back to us. The Chief of staff to the Governor called us and said they’re looking into our employment process saying that there were irregularities in the process that brought us in.

“This is after we’ve done all necessary things. We relaxed hoping to hear from them.

“To our greatest shock, the government started employing new LG workers who were not even part of the 2019 set that they told us they’ll look into our problem.

“We’re begging our Governor Dr Okezie Ikpeazu whom all of us here have been supporting to please hear our cries.

“In 2019 they assured us that if he wins the election, our employment will be confirmed and we all made moves to support his election, but today, we’ve been abandoned and most of us are dying of hunger and starvation.”

Sokoto Attacks: Tambuwal Said 45 Buried

By
Uche Mbah
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By Uche Mbah

The death toll continues to rise in Sokoto attacks as the State Governor, Aminu Tambuwal, said 45 people are already buried.

Recall that there were violent attacks Sunday and Monday in Illela and Goronyo Local Government Areas of Sokoto State.

Governor Tambuwal visited the scenes of the carnage after being briefed by aides.

In an interview granted  the BBC Hausa Service Muhammad Bello, Tambuwal’s spokesperson,   said the Governor was informed by residents that 45 people who died during the attack were already  buried, and dozens injured receiving treatments.

The village head was also injured when the terrorists invaded seven villages and the main town, illela.

Illela and environs had no communication as all telecom companies were compelled to shut down communications to the area to limit banditry and kidnapping, but it appears to have given cover to a different kind of violence.

Reprisal attacks were reportedly, organized by different vigilante groups, a move the governor frowned at. This gives the impression that the bandits are well known and their cells marked from where they come to unleash terror from time to time.

It is not clear exactly how the Governor intends to deal with them. Reports indicate that they have taken over some communities and collect taxes from them.

Earlier, President Muhammadu Buhari condemned the killings in Sokoto State.

His Media aide, Garba Shehu, called it a “needless and mindless violence against innocent people which cannot go unpunished.”

He said the security agencies should redouble their efforts in fighting banditry.

“This persistent and unprovoked violence against unarmed civilians must be met with fierce response by the government.

“Let me once again, reassure Nigerians, that this administration will not abandon them to their fate in the face of this existential challenge caused by banditry.

“We are taking delivery of military equipment to improve the capacity of our security forces to effectively deal with this issue.

“Our military is also deploying advanced technology to enhance surveillance and related operations to locate and crush these criminals and enemies of our common humanity.

“This administration will not tolerate this state of affairs where criminals deprive the people of their means of livelihood and turn them into beggars and refugees.

“The bandits are living in a fool’s paradise if they believe that they can’t be crushed. The criminals cannot be lucky always; they will ultimately meet their Waterloo. Evil cannot triumph over good no matter how long it takes,” he said.

Zenith Bank Calls For Collaboration With Diaspora Nigerians

By
Bayo Bernard
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By Fola James

The Group Managing Director/Chief Executive of Zenith Bank, Ebenezer Onyeagwu, has called for increased collaboration of Nigerians in the diaspora for the nation to achieve its economic growth targets. He made the call during the 4th Edition of the Nigeria Diaspora Investment Summit 2021 organised by the Nigerians in Diaspora Commission, NiDCOM on Tuesday, November 16, 2021.

The hybrid event which held at the State House Banquet Hall, Aso Villa Abuja, Virtually had in attendance the Secretary to the Government of the Federation, Ministers and State Governors.

Delivering his remarks on this year’s theme “Partnership and Linkages for Post Covid Economic Growth”, Onyeagwu noted the aptness of the theme of the summit, as it underscores Nigeria’s need for robust growth following the unprecedented impact of the COVID-19 pandemic, which triggered a severe macroeconomic shock.

Onyeagwu commended the Federal Government and the Central Bank of Nigeria, CBN for leading with policies that create an enabling environment for investment in Nigeria, such as the Naira 4 Dollar Scheme , which contributed to boosting diaspora remittances by providing incentives for recipients of international money transfers. In his view, this and other policies encourage the senders and recipients to channel inflows through the official market, knowing that they will not be shortchanged.

The Zenith Bank boss also passionately highlighted Nigeria’ss enormous investment potential, especially the nation’s huge market and youthful population, which is a veritable source of labour and a consuming population.

Highlighting the need for partnership and collaboration of Nigerians in the diaspora to achieve Nigeria’s economic growth targets, particularly during these challenging times, Onyeagwu pointed out that across the globe, the diaspora community plays a critical role in their home country’s economic growth and development. He noted that Nigeria has enormous potential to attract significant diaspora inflow, most of which is coming in through informal channels.

These remittance inflows and investments, which are counter-cyclical, help in ameliorating foreign exchange challenges as the funds form a significant buffer for the country’s foreign reserves.

Onyeagwu identified the healthcare sector as one area where diaspora investment and intervention are urgently required. In his words, “by leveraging the expertise of our diaspora healthcare professionals in some of the emerging world-class health facilities in Nigeria, such as Evercare Hospital, Ibom Specialist Hospital and Base University Hospital, we can begin to curb the loss of foreign exchange to medical tourism.

He, therefore, called on the various associations and groups of Nigerians in the diaspora to pull resources together and identify viable investment opportunities in the homeland.

While commending the untiring efforts of NIDCOM led by Abike Dabiri-Erewa in supporting the engagement of Nigerians in diaspora in the country’s policies, projects, and development programmes, Onyeagwu canvassed that the narrative should shift from diaspora remittance to Diaspora Direct Investment as advocated by Dabiri-Erewa and  Emeka Offor, Acting Executive Secretary/CEO, Nigeria Investment Promotion Commission, NIPC.

Onyeagwu noted that as a socially responsible organization, Zenith Bank continues to play its part in promoting investment in Nigeria. In the light of this, the bank is proud of its partnership with the Nigerians in Diaspora Commission, NiDCOM and the Nigeria Diaspora Investment Summit, NDIS and remains committed to creating value for Nigerians in the diaspora through its unique products, services and quality service, including mortgage.

He noted that Nigerians in the diaspora could open bank accounts with Zenith Bank through various online and digital channels and do not need to visit Nigeria to have bank accounts back home.

UBA: Fitch Reserves Ratings On Lender’s $1.5 bn Eurobond

By
The Source
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UBA

By The Source

Global rating agency, Fitch Ratings has cautioned investors over the United Bank of Africa, UBA Plc new $1.5billion global medium-term note programme, GMTN. The US based firm said in its recent publication that it has yet to assign any rating to the issue, until the bank furnishes it with enough information.

The Kennedy Uzoka-led bank had recently issued both senior unsecured and subordinated debt notes worth $1.5 billion with a five-year maturity period, which Fitch said are “in line with UBA’s Long- and Short-Term Issuer Default Ratings (IDR) of ‘B’ and ‘B’, respectively, and apply only to senior unsecured notes issued under the programme”.

The lender, a few days ago, successfully raised $300 million on the London Stock Exchange, as part of the overall $1.5 billion issue, described by its chief executive as a boost of global investors confidence in the bank.

“This successful dollar-denominated offering further illustrates global investor confidence in the strong fundamentals of our Group. It is a testament to our customer first strategy, pan-African growth story, supported by prudent risk management and benchmark asset quality ratios,” Uzoka said.

Accordingly, Fitch said “UBA plans to raise between $350 million and $500 million of fixed-rate five-year bonds. Based on Fitch’s assessment on expected recoveries in a liquidation scenario, an expected Recovery Ratings (RR) of ‘RR4 (EXP)’ is also assigned to the notes, implying that average recovery prospect.”

But the agency said it has decided not to assign any ratings on the subordinated debt until the commercial bank furnishes it with further details concerning the bond.

According to Fitch “in the case of subordinated debt issuance, the issue’s features will require further evaluation for the purpose of assigning a rating.

“There is no assurance that all notes issued under the programme will be rated or that all rated notes will be aligned with the programme rating.”

What is subordinated debt? According to investopedia a subordinated loan also known as junior is an unsecured loan or bond that ranks below other, more senior loans or securities with respect to claims on assets or earnings.

“Fitch’s advisory is a subtle advice to investors or creditors to make informed decisions on whether to buy the bonds or not. In any case investing in bonds or other bank instruments involves taking a risk,” an investment expert said on Monday.

Banks issue subordinated debt for various reasons, including shoring up capital, funding investments in technology, acquisitions or other opportunities, and replacing higher-cost capital. Sometimes, it as avenue for banks to raise inexpensive

Recall that the bank, had last week, issued a notice to the Nigerian Exchange, NGX of its readiness to redeem its outstanding $500 million bonds, issued four years ago for a fresh one.

In the notice titled “United Bank for Africa Plc Senior Unsecured Note Issuance with a 5-Year Maturity” the bank said it has appointed Citigroup Global Markets Limited, Mashreqbank psc, Renaissance Securities (Cyprus) Limited, and Standard Chartered Bank as dealer managers for the Tender Offer.

“United Bank for Africa Plc hereby notifies the Nigerian Exchange Limited that it has mandated Citigroup Global Markets Limited, Mashreqbank psc, Renaissance Securities (Cyprus) Limited, Standard Chartered Bank, and United Capital Plc as Joint Lead Managers to arrange a global investor call in addition to a series of fixed income investor meetings (each of which will not constitute a public offer in Nigeria) commencing on November 8, 2021.

“A 5-year fixed rate benchmark USD denominated Regulation S/144A Senior Unsecured offering under UBA’s Global Medium Term Note Programme may follow, subject to market conditions.

“In connection with the new bond offering, UBA proposes to redeem its outstanding US$500mn 7.750% 2022 bonds and will announce today a cash tender offer for any and all of the outstanding bonds,” the commercial bank said in the notice.

Imo Launches Security Outfit; To Reactivate Development Centres

By
The Source
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0

The Imo State Government is set to reactivate the Development Centres across the State as a way of further improving on the well being of the rural dwellers.

The decision was reached Wednesday at the State Executive Council meeting where Governor Hope Uzodimma who presided over the session also hinted that the State’s Security outfit will be formally launched by November 30.

Briefing newsmen, the Commissioner for Information and Strategy, Chief Declan Emelumba flanked by the Attorney General and Commissioner for Justice, Chief CO C Akaolisa, the Special Adviser to the Governor on Local Government and Chieftain Affairs, Chief (Mrs.) Ruby Emele and the Chief Press Secretary and Media Adviser to Governor, Chief Oguwike Nwachuku said that the number of Development Centres in Imo will be increased from 44 to 50.

According to Emelumba, Council commended the Governor for the initiatives and also supported and approved a supplementary appropriation  of N31.9 billion sent to the Imo State House of Assembly for approval.

He said Council lauded the proactive manner the Governor went about dealing with the security challenges that affected activities in Imo State recently and saw reason to seek more funds from the Assembly to enable government deal with extra expenditure incurred as a result of insecurity in the State.

Emelumba said Council regretted that the money which government would have used to attend to more development-oriented matters in the state was diverted to security matters, noted that that is the opportunity cost of insecurity to the people of Imo State which everyone must rise to condemn and assist to contain.

The Commissioner also informed that Council applauded the Governor for approving the rehabilitation and equiping of primary Healthcare Centres in 305 INEC Wards Imo State to address healthcare challenges at the rural areas.

He added that the essence is to allow the rural populace in Imo to enjoy unhindered quality healthcare.

On the Security outfit meant for launching November 30, the Commissioner explained that the Council is confident that it will be a combination of Vigilante and Community Policing model. “The launching has become necessary to check further insecurity and make the Yuletide celebrations comfortable for Imolites both at home and Diaspora.”

According to the Commissioner, when reactivated, the new Development Centers as proposed will have all Town Union Presidents of Communities in Imo State as members. “The essence of this is to allow Communities, through their Town Union Presidents, articulate their needs for the attention of the State Government.”

Wole Olanipekun @ 70; President Buhari Lauds Achievements

By
Ayodele Oni
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0

By Ayodele Oni

President Muhammadu Buhari has felicitated with a former President, Nigerian Bar Association, (NBA), Chief Wole Olanipekun, SAN, on the occasion of his 70th birthday which comes up on Thursday.

The congratulatory message was contained in a statement on Wednesday, signed by the Special Adviser to the President on Media, Mr Femi Adesina in Abuja.

According to the statement, “The President salutes a life dedicated to jurisprudence and service to the country, which has pedestaled Chief Olanipekun as a former Attorney General/Commissioner for Justice in Ondo State, one time NBA President, Vice President Pan African Lawyers Union, Life Bencher among others.

“He is equally a Senior Advocate of Nigeria, SAN, and Officer of the Order of the Federal Republic, OFR.

“President Buhari commends the erudite lawyer for replicating himself in his four biological offspring, who are all lawyers, with two having attained the learned silk status of Senior Advocate of Nigeria.

“He also notes that numerous other lawyers have passed through his chambers, and doing exploits in the legal profession.

“President Buhari felicitates with the entire Olanipekun family, their friends, associates, and the legal profession in general, urging all and sundry to emulate the commitment of the new octogenarian in using law to bring succor to innumerable people, and touching other lives through philanthropy.

“He wishes Chief Olanipekun longer life in good health, and greater service to God, and to humanity.”

I owe Governor Uzodinma Nothing But Gratitude – Andy Uba

By
The Source
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0
Andy Uba

By Charles Igbo

Senator Andy Uba, the candidate of the All Progressives Congress, APC, in the just concluded Anambra Governorship election, has expressed his deep and profound appreciation to the Governor of Imo State, Senator Hope Uzodinma.

Uba was reacting to what he described as a complete mischief by an online publication which claimed that he, Uba, has cried out that the Imo Governor had stopped  taking his calls since the conclusion of the election in which the candidate of the All Progressives Grand Alliance,  APGA, Professor Charles Soludo, was declared the winner by  the Independent National Electoral Commission, INEC.

The publication also claimed that Uba had asked Uzodinma to return an imagined $30m he purportedly gave Uzodinma to procure the election.

These claims and allegations are being celebrated by those opposed to Uzodinma’s Government in Imo.

But in a statement signed on his behalf by Hon Victor Afam Ogene, the Director Media and  Publicity of his Campaign Organisation, Uba said nothing could be further from the truth. He said the allegations were lies from the pit of hell.

Uba: ” In one of such claims, a nondescript online rendezvous claimed that Senator Uba was lamenting that Governor Uzodimma of Imo State was no longer picking his calls. Nothing else could be farther from the truth, as it is public knowledge that as Chairman of the APC National Campaign Council, Senator Uba owes the Imo State Governor a huge debt of gratitude for his financial and leadership roles in the electioneering process”

Continuing, Uba said: “We regard this foolish tale as part of a deliberate ploy by APGA to get as many APC chieftains as possible at odds with Uba.”

This magazine recalls that such false claims to the effect that Uba has been asking for the return of his money had also been made against Anambra Deputy Governor, Dr Nkem Okeke, and Senator Stella Oduah, both of whom decamped to the APC from APGA and the PDP respectively.

Uba insists on challenging the outcome of the election in the Courts, the pressure on him not to do so notwithstanding.

Anambra Guber: Andy Uba Will Not Back Down From Challenging Soludo’s Emergence

By
The Source
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0

Candidate of the All Progressives Congress, APC in the November 6, 2021 Governorship election in Anambra state, Senator Andy Uba, has lashed out at those intent on continually defaming him, describing them as being fearful of his mere shadows.

In a statement signed by Hon. Victor Afam Ogene, Director, Media and Publicity of his campaign organisation, the Senator wondered why several days after the polls, his opponents, especially members of the All Progressives Grand Alliance, APGA, still find it fashionable to conjure all manner of falsehood in his name.

“The elections have come and gone and we are in the process of interrogating the sanctity of its outcome. But instead of gearing up for the expected judicial battle ahead, APGA as a party and its leaders are busy trolling my person, in the mistaken belief that their underhand tactics would make me back out of my chosen course of action.

“I have only decided to take a civilised course of action, which is a recourse to the Judiciary in the face of daunting illegalities that trailed the conduct of the elections. How this is so discomfiting to some, leading to the sponsorship of several false stories about my person, beats the imagination of all reasonable members of society.

“While leading members of APGA and their supporters gallivant from one television station to another spending resources belonging to our state in undisguised attempts at demonizing Senator Uba, the propaganda wing of the party does the same by busying itself churning out one badly cooked story after another.

“In one of such fairy tales, a nondescript online rendezvous claimed that Senator Uba was lamenting that Governor Hope Uzodinma of Imo state was no longer picking his calls. Nothing else could be farther than the truth, as it is public knowledge that as Chairman of the APC National Campaign Council, Senator Uba owes the Imo State Governor a huge debt of gratitude for his financial and leadership roles in the electioneering process.

“In deed, we regard this foolish tale as part of a deliberate ploy by APGA to get as many APC chieftains as possible at odds with Senator Uba. The first, we recall, was the infantile story of dragging the Anambra State Deputy Governor, Dr. Nkem Okeke, before an imaginary deity, and then an attempt at casting aspersions on the image of Distinguished Senator Stella Oduah, for the simple reason that she decided to pitch her tent with us in the APC.

“Although we are quite aware that several of such devious propaganda materials have been made ready for diseminnation, we urge discerning members of the public to disregard same whenever they summon the courage to push them out – believing, as we do, that in the final analysis, justice shall be last served.”

Uzodimma Inaugurates Imo Law Reform Commission

By
The Source
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Hope Uzodimma

Governor Hope Uzodimma of Imo State has inaugurated the State’s Law Reform Commission with a charge on members to help churn out laws that are 21st century compliant.

Inaugurating the five-man Commission on Tuesday at the New Executive Chambers Government House Owerri, Governor Uzodimma said he was committed to ensuring that the state operates with laws the people will be proud of.

He said the review and reform of the existing obsolete laws and statutes must be carried out to reflect modern challenges.

Those inaugurated as Commission members are the State’s Attorney General/Commissioner for Justice, Barr. C. O. C Akaolisa as Chairman, Hon. Justice Ngozi Ukoha (rtd), Chief Sir Edozie Uche Nwaugo, Barr. Simeon Ikechukwu Azuama and Barr. (Mrs.) E. C. Aguta, Permanent Secretary/Solicitor General who will function as Secretary.

Governor Uzodimma had reminded them of the need to be diligent in the task assigned to them and “make Laws in Imo State that are 21st Century Compliant.”

The Governor described the members  as “knowledgeable, hardworking and dedicated team players, expected to bring in their sterling qualities to bear in the discharge of their duties.”

Governor Uzodimma said:  ‘’Law reform Commission has a great role to play in the sustenance and strengthening of our democracy.  That can be achieved by ensuring that obsolete, archaic and spent laws as is found in the laws of Eastern Nigeria 1963 applicable to Imo State and all the laws of Imo State from 1976 till date are  collated and revised.”

He charged them to “compile and ensure that the several amendments to the various laws are harmonized and necessary law revisions carried out.”

He noted that many of the provisions of the extant laws of Imo State are no longer in tune with current realities; hence the “need to revise and review some of the provisions of our laws cannot be overemphasized.”

The Governor emphasized that most of the laws with Penal Provisions have figures that are not only unrealistic but cannot serve the purpose for which they were enacted.

He, therefore, called on the Commission to critically look at the various enactments, especially those inherited from the laws of East Central State, to have them domiciled as part of laws of Imo State.

“Continuing quoting laws of Eastern Nigeria or East Central State before our courts today does not represent the State well.”

He assured that Government was ready to provide the Commission with all the enablement to ensure that before he leaves office “the Commission would have brought the entire laws of Imo State into a uniform set of laws, modern and properly revised to suit the contemporary needs of present day Imo State as this will comprise the laws of Imo State from 1963 to 2021 and therefore, represent annual publication of the laws of Imo State.”

The Governor added that Government expects expeditious execution of the assignment and other functions enumerated in section 4 of the law,  No. 2 of 2006 as amended by Law No. 41 of 2019.

He reiterated his confidence in the calibre of members of the Commission, noting that the task ahead should be handled with the priority it deserves.

Responding on behalf of members of the Commission, the Chairman, Chief Akaolisa thanked the Governor for finding them worthy of the appointment and inauguration and assured that they will do their best to realize the statutory mandate of the Committee.

He promised that they will not fail the Governor, the Government and people of Imo State in the assignment.

Protest Over Shooting Of Okada Rider In Ondo By Policeman

By
Ayodele Oni
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0
Okada Rider Clash in Ondo State

By Ayodele Oni

Pockets of protest by commercial motorcycle riders, popularly called okada, enveloped Akure, Ondo state capital on Wednesday, causing panic among the people.

It was over the alleged shooting to death of an okada rider by a policeman attached to a gas station.

The deceased okada rider was among those protesting the killing of two persons in an accident by another vehicle.

It was gathered that a stray bullet of a police officer that was on guard duty at a nearby gas filling station hit the deceased and he died instantly.

The officer was said to have shot the person while trying to disperse people from the scene of the accident which had already killed another okada rider and a passenger on the road.

The commercial motorcyclists mobilised themselves to A Division Police Station where the policeman had taken refuge and attempted to vandalize the station.

They broke into the gate and threw stones into the building while policemen and their families fled through the back gate.

They made bonfires on the ever busy highway causing tragic jam while pedestrians sought another route.

The Okada riders insisted that the policeman must be released for necessary jungle justice to avenge their colleagues death.

Ondo Police spokesperson, DSP Fumilayo Odunlami, said the situation was under control.

“There was an accident along Arakale where two persons were killed.

“One of our men while trying to rescue the driver of the car that killed an okada Rider and a passenger was attacked  and in the process, another okada Rider was killed.

“The protesting riders mobilised to A Division to attack the place.”

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