Unity Bank Rebounds, Declares N643m Profit

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April 4, 2019

By The Source

Unity Bank appears to have escaped impairments that slowed down growth for the mid-tier bank in the last few months.

Recall that the Nigerian Stock Exchange, NSE placed the Tomi Shomefun-led bank on suspension for failure to file its financial statements last November.

But in what keen market analysts described as a rebound, the bank has announced N643m profit before tax for the nine months financial period ending September 30th, 2018.

Notably, analysts insist that the bank has shown increased presence in the agro-business sector by providing finances various agricultural finance scheme initiatives of the Central Bank of Nigeria (CBN).

The bank is 4th largest provider of single digit interest loans (9% max) to Agribusinesses under the CBN’s Commercial Agriculture Credit Scheme (CACS); with a CACS loan portfolio of over N24 billion.

It showed much activity in the CBN’s Anchor Borrower Scheme by disbursing over N1.6 billion to 11,000 wheat farmers in Jigawa and Sokoto States.

This initiative, analysts say is a plus to the flour value chain and contribution to the economic diversification policy of the current government. .

The question on the lips of market analysts is whether the result is a good sign that the bank has successfully navigate its challenges and positioned for better performance. May be.

According to the report released to the NSE, the bank said it has now been positioned on path of sustained growth as a result of various reforms introduced by the management.

“The year’s performance is supported by noticeable fundamentals derived from the Bank’s corporate action to clean up its book by eliminating all the legacy non-performing loans (NPLs) which resulted in full de-risking of its balance sheet and creating a new lease of life for the Bank,” it said in a statement.

The result showed that impairment dropped to zero from N16.47 billion at the end of December 31st 2017while credit lose expense dropped to N514.211 million in September 30, 2018 from N27.78 billion at the end of 2017.

Meanwhile, profit before tax dropped by 71.6 percent to N643.8 million from N2.720 billion in the corresponding period in 2017, while revenue fell by 60 percent to N65.027 billion from N26.125 billion compared to 2017.

The bank also showed noticeable performance on other key fundamentals.

Net Operating Income for the year ended December 31, 2018 growing by 112% to N21.63 billion from N10.22 billion in the corresponding period of 2017 while Non-Interest Income increased to N6.3billion from N1.61bn recorded in 2017 and earnings per share (EPS) for the year 2018 stood at 13.03 kobo, up from negative of 127kobo recorded in 2017 FY.

Aside strategic corporate actions taken by the bank to prioritize customer service the management also prioritize product delivery as well as optimize operations for maximum efficiency and sustained performance.

Part of which is the launch of a youth-focused UniFi application, a robust omni-channel app that goes beyond banking services but also offers lifestyle services including gamification for increased customer satisfaction.

Alongside aggressive transaction push has led to a 290% increase in non-interest income (income from transactions, cards, mobile, ATMs, commissions & fees, FX etc.), the bank said.

Also recently launched is Unity 1 Account, an electronic product that puts customers in charge of their banking experience, offering greater electronic convenience and interactivity for online account opening with minimal documentation.

In effect, the increased digital initiatives is reflected in the bank’s electronic banking income which grew by 86% percent to N488.674 million in September 30, 2018, from N262.795 million in September 30, 2017.

A source in the bank told the magazine last week that what is priority now to the management is to recapitalize and that talks are ongoing with prospective foreign and local investors.

Senate Presidency: PDP Weighs Options, Mulls a Senate President with APC Deputy

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The Source

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April 4, 2019

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By Chidiebere Onyemaizu

With about 46 Senators now in its kitty, the Peoples Democratic Party, PDP, is weighing options as regard the next President of the Senate, the The Source has learnt.

An impeccable party source lists the options as follows: Cash in on the division in the ranks of the All Progressives Congress, APC, fresh and returning Senators over the party’s choice for the top Senate position to spring a surprise by sponsoring a ranking PDP Senator for the position with an APC Deputy; align with Senator Ali Ndume (Borno) and, then, produce a PDP Deputy Senate President, or go the whole hog to produce both the Senate President and Deputy Senate President.

It was learnt that the opposition party is emboldened in its resolve by the virtual collapse of Senator Ahmed Lawan’s Senate Presidency project. The Yobe Senator is being backed for the job by the National leadership of the APC led by Adams Oshiomhole and National leader, Ahmed Bola Tinubu.

Recently, the party pronounced the position zoned to the North East and, named Senator Lawan its choice. It also zoned the position of Speaker of the House of Representatives to the South West with Femi Gbajabiamilia as preferred choice. However, the move has been met with more jeers rather than cheers.

Many new and returning APC national Assembly members have vowed to resist the imposition. In the Senate, Senator Ndume has not only scoffed at his party’s move but has gone ahead to unfold his agenda if elected Senate President. Contrary to the missinformation in the public domain, Senator Danjuma Goje (Gombe) is also still in the race.

Ekweremadu: What role in the ninth Senate

The Source was told that out of APC’s 63 Senators, at least 36 are poised to queue behind Ndume and Goje. PDP’s calculation is, therefore, to throw up its own candidate who will receive a bloc vote of its 43 Senators while three APC contenders-Ndume, Goje and Lawan split 63 votes.

While hawks among the PDP Senators favour the clinical upstaging of the APC by springing a PDP Senate President and Deputy Senate President on the ninth Senate or a less harsher coup in the form of a PDP Senate President and APC Deputy, dovish elements among the PDP Senators argue that for the sake of peace and stability in the ninth Senate, the Senate Presidency should be conceded to the APC while the PDP produces the Deputy.

If the PDP eventually settles for an APC Senate President, Ndume, it was gathered, will reap from this dovish compromise. He is reportedly to be paired either with the out- going Deputy Senate President, Ike Ekweremadu (Enugu)or Senator Enyinnaya Abaribe (Abia). Ndume, this magazine, was informed, has reached out to the PDP Senators in this regard.

However,if the PDP dominates the voting process on the floor of the Senate on the day of inauguration, and decides to allow APC a breather, Ndume, may dramatically emerge Deputy Senate President under a PDP Senate President, it was gathered.

Senator Ahmed Lawan: A diminishing dream

“On the other hand, PDP going all out to grab the main prizes will result in the Senate Presidency of either Ekweremadu or Abaribe with a Northern PDP Senator, possibly from Taraba, as his Deputy”, The Source was told.

Apparently aware that any misstep on APC’s side will cause the Party the two topmost Senate positions, National Assembly sources reveal that many APC Senators- new and returning- are frantically working to prevail on their PDP colleagues to settle for the middle course arrangement of an APC Senate President and PDP Deputy. “What this means is that Senator Lawan’s dream of mounting the saddle as Senate President in June has once again evaporated”, one of the sources said

“I can authoritatively tell you that Senator Lawan cannot be Senate President. His sponsors and marketers are persons Nigerians across party line are suspicious of. Like it happened in 2015, his aspiration has already been torpedoed.The next Senate President is certainly Ndume. Goje will eventually stand down for him, both of them are working together. And the next Deputy Senate President is a PDP Senator. We are having hybrid Senate again. Take this to the bank”, another source told the magazine.

APC Abandons Amaechi As Wike Wins Big In Rivers

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Uche Mbah

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April 4, 2019

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The Independent National Electoral Commision, INEC, has declared the Rivers state governor Nyesom Wike winner of the governorship elections. Wike, the state Peoples Democratic Party flag bearer, polled 886,264 to defeat his nearest rival, Engineer Biokpomabo Awara of the AAC, who polled 173,859 votes. This was the highest margin a state governor has used to defeat his opponent in the current political dispensation. He won by a margin of 712,405 votes.

By the end of the first day of collation and announcement of the results, Wike was already leading with the announcement of results from 15 local government areas, polling a total of 426,369 votes as against 129, 855 votes garnered by Awara. He was able to further consolidate his lead when collation resumed on Wednesday.

It will be recalled that collation was suspended when the elections were marred by violence, massive rigging attempts and some security agencies alleged to have actively collaborated in the chaos. The All Progressives Congress, APC, which lost their qualification to field candidates through courts, had aligned with the AAC. The alignment was spearheaded by Rotimi Amaechi, the current Minister of Transport. But after the disaster that was the attempt to unseat Wike, the Oshiomhole led party was said to have distanced itself from the alliance, saying they were not consulted by Amaechi before the alliance.

It was alleged that Awara was to decamp to APC as soon AAC wins. But during the hiatus before the final collation, the AAC deputy governor decamped to PDP, claiming that Amaechi had taken over the party. Rumors were rife that the governorship candidate himself was under house arrest to prevent him from decamping, but this could not be confirmed by this magazine.

Earlier, the PDP has cleared all the three senatorial seats in the state, thereby increasing the tally of senators in the PDP by three.

NJC may have recommended Onnoghen For Retirement, Cleared Tanko

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Uche Mbah

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April 4, 2019

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Following turbulence that has trailed his tenure and his unceremonious suspension from his exalted office, Justice Walter Onnoghen may have been recommended for retirement by the national Judicial commission, NJC. Justice Tanko Mohammed, however, may have been exhonorated from allegations of subverting the rule of Law by offering himself to be sworn in as the new acting chief Justice without due process. This Soji Oye, the Director of Media Information of the commission has hinted.

The NJC handles issues of Judicial discipline. In the wake of the Onnoghen Saga, Justice Umaru Abdullahi sat as the interim chairman. Ordinarily, the CJ heads the NJC but Onnoghen is under suspension and the Acting Cj was not recommended by the commission.

The Economic and Financial crimes Commission, EFCC, has petitioned the NJC listing a catalogue of sins of the suspended CJ, and urging dismissal of the supreme Jurist. Petitions were also written against Justice Tanko Mohamed by some Lawyers. The NJC had requested the two justices to forward their defense within a specified time.

After deliberating on the issues, NJC may have taken the face saving step of retiring Onnoghen.

The decision may have been passed on to the presidency, but it is not clear whether the presidency is predisposed to follow due process on the Issue or fire him directly.

According to the constitution, two third majority of the senate is required to remove him and recommend his retirement to the President. But it appears the NJC may have directly sent the recommendations to the presidency instead of the senate.

According to section 292(1) of the 1999 constitution (as amended), “A judicial officer shall not be removed from his office or appointment before the age of his retirement except in the following circumstances. (a). in the case of (i). Chief justice of Nigeria…by the president acting on an address supported by two thirds majority of the senate”.

Onnoghen is currently undergoing trial at the Code of Conduct tribunal, CCT for false asset declaration. But the CCT has no powers to try him. If they find him guilty they can only recommend him for trial in a proper court.

This Magazine had previously reported that the Commission may take the option of retiring both Tanko and Onnoghen to clean the Aegean stable when the tension generated by the saga was at its peak.

Osun: Adeleke To File Appeal Amid Tensions After Court Nullified His Nomination

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Uche Mbah

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April 3, 2019

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By Uche Mbah

The Dance of victory has suddenly been frozen by the People’s Democratic Party candidate for the Osun governorship election, Ademola Adeleke, as an Abuja High Court nullifies his nomination as the governorship candidate of his party, asserting that he did not satisfy the condition which stipulates that he must have school certificate or it’s equivalent. Adeleke has been having a contentious battle on whether he sat for the West African School certificate exam or not.

Only recently, an Abuja High Court has declared him winner of the governorship election recently conducted in the state, saying that it has been proved he defeated the governor of the state, Gboyega Oyetola. Oyetola, candidate of the All Progressives Congress, APC, has since appealed against the ruling.

Adeleke is currently representing Osun West senatorial district in the Red Chambers.

The latest ruling has dampened the hope of the choreographic senator waltzing his way into Osun government house.

It will be recalled that two chieftains of the APC, Wahab Raheem and Adams Habeeb, had in 2018 filed a case against Adeleke claiming that he does not possess the requisite qualifications to contest for the governorship elections in the state.

In his judgement, Justice Othman Musa cited section 177 of the 1999 constitution as amended, noting that while the court found out that Adeleke entered secondary school in 1976, there is no records showing he graduated as his name was no longer seen on the class register in 1980. According to him, the result Adeleke attached to his CF001 that he submitted to the Independent National Electoral Commission, INEC, was fake.

His Lawyer, Nathaniel Oke, SAN, has set the grounds of Appeal that the Judge ignored the WAEC evidence that was tendered in court.

As news of the judgement filtered in, there were reports that tension has been mounting in the state. People were reported discussing the development in clusters

IPMAN Set To Increase Fuel Price From N145

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Akinwale Kasali

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April 2, 2019

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By Akinwale Kasali

Few weeks after President Muhammadu Buhari is re-elected as the President of the Federal Republic of Nigeria, Nigerians are on the verge of experiencing another pump fuel price increase.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the Federal Government and the Nigerian National Petroleum Corporation to ensure that private depot owners maintain the official ex-depot price of Premium Motor Spirit (petrol) at N133.28 per litre.

The Chairman, IPMAN, Ore Depot, Mr Shina Amoo, who said this in an interview with our correspondent in Lagos on Monday, stated that independent marketers might soon start selling beyond N145 per litre if depot owners continued to sell between N136.50 and N137 per litre. Amoo urged the NNPC to prevail on depot owners not to sell beyond the official ex-depot price in order to enable marketers to sell to consumers at N145 per litre.

He said, “Private depot owners have increased the ex-depot price of PMS beyond N133.28 per litre. We bought a litre of PMS between N136.50 and N137 per litre from private depot owners last weekend. This can affect the pump price at which independent marketers will sell the product, and it will certainly be beyond the N145, which is the official pump price.

“We, independent marketers, are law-abiding. We don’t want to sell above the official pump price and that is why we are urging the government to do something about it and make the product abundantly available. They should monitor private depot owners to make sure they don’t sell above the official ex-depot price of N133.28.

“The NNPC is the sole importer and nobody has the right to increase the price but if they continue to sell to us above the official ex-depot price, we will have no option than to increase the pump price above N145 per litre.

The increase in price by private depot owners will eventually push the burden on the marketers and final consumers.” Amoo lauded the Federal Government for the rehabilitation of the Ilorin Depot of the NNPC while urging it to revive the Ore Depot as well in order to reduce the problem of transportation of petroleum products and to create more jobs in the area.

The NNPC Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, had in a statement dated March 30 warned private depot owners against increasing the ex-depot price. He said, “The subsisting ex-depot petrol price of N133. 28k per litre was consistent with the Petroleum Products Pricing Regulatory Agency’s template and should be adhered to.” Ughamadu stated that NNPC held stock of over one billion litres, adding that imports of 48 vessels of 50 million litres each had been committed for the month of April alone.

APC In Crisis Over Imposition Of Principals In 9th Assembly

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Akinwale Kasali

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April 2, 2019

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By Akinwale Kasali

The ruling political party, All Progressives Congress, APC, is presently swimming in trouble waters over it’s imposition of principal officers into the national assembly.

There are some anointed candidates by the top chieftain of the party to become the Senate President and the Speaker of the house of Representatives, but this not augur well with some other members of the assembly from the party also eyeing the top seat in the assembly.

Following this development, trouble is looming for APC as some members are battle ready to slug it out with the “so called” anointed candidates for the coveted seats.

Honourable member representing Ijebu North/Ijebu East/Ogun Waterside at the 8th Nigeria National Assembly and re-elected at the recent concluded House of representatives election for the second time, Hon. Adekoya Abdel-Majid Adesegu said it is dangerous for the APC leadership to impose any member to become principal officers in the assembly on members.

“If they try to impose any one on us they will fail. In as much, I am a free minded person that loves freedom much, for that I will give you your own freedom, provided your freedom is not going to infringe in my own freedom. The house will not allow. Each of our consents should be seek”, he said.

Rep. Adekoya Abdel-Majid went further to emphasise the distinct between the lower chamber which he belongs, and upper chamber, whom he decribed as big men with big cash who are not ready to fight for anything, unlike them, who are always battle-ready for any legal tussle.

He says, “they are full of billionaires who are not ready to fight for anything but we, at the lower chamber are always ready to fight it off. We never shunned away from any legal fights”.

He added, ” All we are just doing now, is just mere child’s play. When we are ready, then politics will come into play. Everybody love freedom. If you want to talk to me, better come to me and talk with me, not giving me instructions. I have freedom to take some certain decision as a member elected to represent my people “, he stated.

It is of note that not only Hon. Abdel-Majid being the only PDP candidate who won election at the state, but is also widely known as a grass root politician who have been in politics for long to understand the terrain of politicking.

Asked why he continues winning elections, while others are losing, he says, ” Because I know my people and my people know me. Even when they are offered money, they went ahead and voted for me. Because I am representing them well”.

Abdel-Majid joined grass-root politics leaving his banking career, and was elected Councillor of Ward F2 in Somolu Local Government in 1996.

Through out my political career so far, I have never been selected but elected. That shows how electable I have been”.

Hon. Abdel-Majid started his political career when he was elected and served as a Supervisory Councillor at the Somolu Local Government area of Lagos state, later to be elected as Vice Chairman of the same Local Government.

Senate To Pass 2019 Budget On April 16

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Akinwale Kasali

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April 2, 2019

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By Akinwale Kasali

The Senate has adjourned plenary till April 9, to allow its Committee on Appropriation conclude work on the 2019 Budget.

This followed the inability of the Committee to submit its report on the budget as proposed when the Senate adjourned on March 20.

Announcing the committee’s position, its Vice Chairman, Sen. Sonni Ogbuoji, said less than 10 committees out of over 60 had submitted their budget reports to it, and urged the Upper Chamber for a two weeks extension.

“Our report is not ready because some committees are yet to submit their reports.

“For now we have less than 10 committees that have submitted their reports.

So we are asking for two weeks. If they submit by Friday the reports should be ready in two weeks’ time.

“I plead that the House empowers the committee to go with the Executive position for committees that fail to submit their reports,” he said.

In his remarks, the President of the Senate, Dr Bukola Saraki, urged the committee to tidy up its report and lay it latest on April 11, to enable the House pass the budget on April 16.

“We suspended sitting so that today the Appropriation Committee can lay its report for consideration.

“We must make sure they submit latest Friday. So let us agree that they will submit on Friday and we will suspend plenary by one week till April 9.

“We should be able to reconvene here on April 9 and latest April 11 to lay the report
and pass the budget latest on April 16.

“We have the Easter break coming. So we do not have the luxury of time,” he said.

He warned that any standing committee that did not comply with the deadline would have itself to blame, adding that the senate would in such case resort to Executive position on the budgets.

The senate on March 20, adjourned plenary to April 2, to enable its standing committees attend to heads of Ministries, Departments and Agencies’ (MDAs) Budget defence and for the committee on appropriation to lay its report.

Ogun Assembly Majority Leader quits APM, returns to APC

By

The Source

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April 2, 2019

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Majority Leader in Ogun State House of Assembly, Mr. Adeyinka Mafe, on Tuesday announced the withdrawal of his membership of the Allied Peoples Movement.

Mafe, who represents Sagamu 1 State Constituency in the Assembly, stated in his withdrawal letter read at Plenary by the Speaker, Mr. Suraj Adekunbi, that he had returned to the All Progressives Congress.

“I had earlier written a letter to leave APC. I write to officially withdraw the letter and I wish to notify you that I remain a member of APC Next Level, “ he stated.

The News Agency of Nigeria reports that Mafe and three other members on November 29, 2018, resigned their membership of APC and defected to the APM.

The lawmakers announced their defection in separate letters read by the Speaker during Plenary.

The three other defectors were the Chief Whip, Idowu Olowofuja who represents Abeokuta South II; Ganiyu Oyedeji (Ifo II) and Tunde Sanusi (Obafemi Owode).

NAN reports that since Mafe’s defection to APM, a new majority leader had not been elected.

Also, during Plenary, the Deputy Speaker, Mr. Olakunle Oluomo, explained that it was important for the Assembly to assess Ministries, Departments and Agencies, saying that the present administration was winding up.

“It is obvious that the state government is winding up. There is need for the House to carry out an assessment of MDAs so that we can know where we are in the state before the government winds up, “ Oluomo, who represents Ifo 1, said.

(NAN)

Speaker: Tambuwal, Others Move Against Gbajabiamila

By

Bayo Bernard

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April 1, 2019

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The re-election of Aminu Bello Tambuwal is causing disquiet in in the camp of Asiwaju Bola Ahmed Tinubu over who becomes the Speaker of the House of Representatives in the 9th Nigeria National Assembly.

Tambuwal, a former Speaker of the House is still believed to be very influential among many lawmakers, particularly, returnee members of the 365 members of the Assembly.

Therefore, his election for a fresh four-year -term in office also came amidst struggle among lawmakers for the successor of current Speaker, Yakubu Dogara.

No fewer than 17 lawmakers, including the current Speaker, Yakubu Dogara and Majority Leader, Femi Gbajabiamila, representing Surulere Federal Constituencyin Lagos are vying for the important position.

Others are Olusegun Odebunmi (South-West), Garba Datti (Kaduna), Ado Doguwa (Kaduna), Babangida Ibrahim (Katsina), Sulaiman Kawu (Kano), Sulaiman Aminu (Kano), Tahir Monguno (Borno) and Abdulrazaq Namdas (Adamawa).

The aspirants also include Yusuf Buba Yakub (Adamawa), Mohammed Bago (Niger), John Dyegh (Benue), Idris Wase (Plateau), Abubakar Lado (Niger), Nkiruka Onyejeocha (Abia), and Chike Okafor (Imo).

Already the All Progressives Congress, APC the party with the majority members in the house, the magazine learned has endorsed Gbajabiamila for the position.

Several meetings have been by the APC in the past few days on how to prevail on other lawmakers from the party to support the aspirant from Lagos.

As a follow up, Gbajabiamila last week publicly declared his interest in the position following what one of his backers, said was the outcome of high level consultations between the lawmakers and other APC big hats.

While reeling out his credentials, the lawyer turned politician said he was the most qualified among the aspirants considering that he had occupied important positions since he was first elected in 2003.

“With all sense of humility, I seek this office with a rich legislative background and pedigree and having just won a historic 5th term mandate to the House.

I have in the last 16 years dedicated my life to the service of my constituents and Nigeria.

I have studied and understood the intricate workings of the legislature. In these 16 years, I have been a principal officer for 12 years.

It is this wealth of experience and a burning desire for good governance that I bring to the table,” he said during the declaration in Abuja.

He said further “I seek the office of the Speaker to bring our tendencies together and unite us as a country. I seek the office of the Speaker to bring governance even closer to the people.

I seek the office of the speaker to mentor the next generation. I seek the office of the Speaker so I can use the bully pulpit to galvanize members to make life more abundant for every Nigerian irrespective of tribe, religious background or political persuasion.

There is much work to be done by way of legislation in many areas of our life including bit not limited to education, health, power, infrastructure and alleviation of poverty.”

According to him “historically, the House of Representatives was established to be the people’s House and for the people’s business.

It follows therefore, that the Speaker must be the people’s speaker elected to do the people’s business and champion their cause and in doing so fulfilling their hopes and aspiration. This is the Speaker I intend and hope to be and the House I intend and hope to lead, a People’s House.”

Apart from the Speakership position, the party has also settled for Ahmad Lawan, the Majority Leader, for President of the Senate.

While the APC seems to be succeeding with some turncoat in the Senate on the reason to install Lawan, same cannot be said of the House where more opposition to Gbajabiamila has increased in the last few days.

Thus following intervention by the party’s leaders strong aspirants such as the Senators Danjuma Goje, Adamu Abdullahi have dropped their ambitions to support Lawan.

The magazine was told that some lawmakers in the house from the northern part of the country have enlisted the support of Governor Tambuwal, being a former speaker and very influential in the lower chamber.

Recall that the Sokoto governor was among those that worked for the emergence of Dogara in 2015 after expressly working against Gbajabiamila.

Just few months ago the governor said the reason why the Lagos lawmaker lost to his opponent four years ago was because of his closeness to Asiwaju Tinubu and that Gbajabiamila was very unpopular among his colleagues.

The opponents of Gbajabiamila are working on two possibilities.

One is that two national positions cannot be ceded to the southwest. The Vice President, Professor Yemi Osinbajo is from the region.

The other is the religious sentiment that Lawan and Gbajabiamila are muslims and therefore, should not be allowed to occupy the Speakership and Senate President.

Recall also that some Christian groups in the country had last week urged President Buhari to make sure that the two major religions in the country are ably represented in his government.

Another factor that could work for the Tambuwal group is the division in the south west caused by the ambition of Senator Oluremi Tinubu to become Deputy Senate President.

Senator Tinubu representing Lagos Central is the wife of Asiwaju Tinubu.

One lawmaker from Kano who spoke with the magazine at the week end said some of his colleagues are poised to destroy any influence of the former Lagos governor in the National Assembly.

”it would mean that the former Lagos helmsman is allowed to impose the Senate President and Speaker on the National Assembly,” another returnee lawmaker from Zamfara also told the magazine.

The PDP on its part seems to be waiting on the wings to cash on the division within the APC.

Last week, the party spokesperson, Kola Ologbondiyan said its members will contest the two top posts in the national assembly.

According to him, the APC will not be allowed to impose any candidate and that the positions should be thrown open for all interested candidates across party lines.

But Tinubu has warned rebels in the party that they would be expelled from the party if they worked against the emergence of Lawan and Gbajabiamila.

Nigerians are waiting to see if the angry lawmakers will be whipped into line by this riots act.