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Labour Rise In Anger Over Petrol, Electricity Price Hike |The Source

By
Bayo Bernard
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Chris Ngige

By Tosin Olatokunbo

The Trade Union Congress has issued the Buhari administration a yellow card over the recent increase in electricity tariff and pump price of petrol.

The administration has insisted that it could no longer afford the subsidy on the essential commodity, thus raising the price of petrol to as much as N160 per litre.

The federal government had earlier increased electricity tariff, a critical decision it said was imperative to draw investment into the energy sector.

But labour union in the country will not have any of that because of the negative impacts such will have on Nigerians.

Therefore, the TUC yesterday issued a warning to the government to revert the increases within seven days or face a mass action from Nigerian workers.

The union said they are prepared to abandon their work apart from staging a mass action to the massive protests across the country in case the government sticks to its decision.

According to a letter addressed to President Muhammadu Buhari with the heading, ‘We cannot bear the burden any longer, issuance of seven days ultimatum’, and signed by TUC President and Secretary-General, Quadri Olaleye and Musa Lawal, TUC their action was aimed aimed at “bringing the President up to speed on some critical national developments that are impacting the mass of the people negatively.”

The union said the government must meet their demands or face the wrath of the angry Nigerian workers.

“These demands are made in good faith, and to save the dying masses and the vulnerable in our society. In the event of not showing empathy for this class of people by adhering to above demands, we shall, together with our civil societies and allies sympathetic to the suffering masses of our people commence an indefinite industrial action and national protest from Wednesday 23rd September 2020,” TUC said.

The Union said in the letter “We bring you warm greetings from the National Executive Council of the Trade Union Congress of Nigeria (TUC), and write this letter to draw your Excellency’s attention once again to earlier communication on the following SALIENT issues.

“We have observed the gradual and steady annihilation of Nigeria and Nigerians in the light of government actions for the umpteenth time. Some of the issues that have become worrisome to the working class, their families and the masses include:

“Sudden increase in petroleum Premium Motor Spirit (PMS) products pump price without any definitive and concrete efforts to make our refineries functional, which has a devastating multiplier effect on the working people and their families.

“Increase in electricity TARIFFS without proper consultation and consideration of the effect of COVID-19, commensurate electricity supply, non-provision of prepaid meters and other biting economic realities.

“Non implementation of the negotiated National Minimum Wage by most of the state governments, and federal government’s inability to create and sustain salary date and calendar to ensure transparency.

“Corruption in government agencies such as the Niger Delta Development Commission (NDDC), Nigeria Centre for Disease Control (NCDC) and the Federal Ministry of Health over failure to explain and lack of transparency on how funds received in the fight against COVID-19 was spent among others.

“Loss of jobs across the industries, high cost of living and businesses not moving in the light of the effects of Covid-19.

“Palliative that never got to those that needed them etc.”

Other trade unions in the country such as the NLC, ASUU and others are currently mobilising their members for a total showdown with the government over the issue.

Meanwhile, the federal government has arranged a meeting with TUC and other trade unions for today in Abuja, to iron out their grievances.

It’s unlikely that the parties will reach a truce as the Buhari administration has said there’s no going back on the recent increases for the essential commodities, the sore point in the labour agitation.

2023: Obasanjo Meets Ohaneze, Afenifere, Northern Elders Forum, Middle Belt, Others |The Source

By
Akinwale Kasali
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By Akinwale Kasali

Former President Olusegun Obasanjo is not leaving any stone unturned in advocating for the restructuring of the nation and the 2023 Presidency, which has become a tussle.

Obasanjo met with the leadership of the Northern Elders Forum, Afenifere, Ohanaeze, Middle Belt Forum and the Niger Delta Forum during a-two day meeting in Abuja, the nation’s Capital.

The meeting was to re-state his position that Nigeria is drifting into a failed and divided state under President Muhammadu Buhari.

Unconfirmed reports say that the meeting was attended by three serving Governors – Kayode Fayemi of Ekiti State, Atiku Bagudu of Kebbi State, and Aminu Waziri Tambuwal of Sokoto State.

It was gathered that the former President had intimated the Chief of Staff to the President, Prof. Ibrahim Gambari, before the dialogue was held.

Also speaking on the meeting, the Director of Engagement, Northern Elders Forum, Dr. Hakeem Baba-Ahmed disclosed that each group expressed reservations on the state of the country.

“There were a lot of things about the state of the nation. Every group expressed serious reservations and concerns about the state of the country, and we all committed ourselves to see all that we can do to pull out the country from the brink”

The Presidency and Obasanjo have engaged in a crossfire over the former President’s opinion that Nigeria has become a basket case, had become more divisive than ever, and is fast becoming a failed State.

The Presidency reacted by attacking Obasanjo, and calling him the “Divider-In-Chief.

Buhari, UNILORIN Mourn Veteran Nollywood Actor, Prof. Ayo Akinwale’s Death |The Source

By
Akinwale Kasali
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Professor Ayo Akinwale

By Akinwale Kasali

The Management of the  University of Ilorin, is yet to come to terms with the sudden  death of one of its Professors and Nollywood Actor, Prof. Ayo Avondale.

Prof. Abdulrasheed Adeoye, Dean, Faculty of Arts, of UNILORIN said the Institution has lost a great pillar.

He wrote, “TRANSITION TO HIGHER GLORY

“If life is not vanity upon vanity, then, what is it? Death is indeed wicked!

“With heavy heart and total submission to the will of the Almighty God, I announce the passing on to higher glory of Prof. Ayo Akinwale, of the Department of the Performing Arts, University of Ilorin. He died today, the 13th September 2020 at the Unilorin Teaching Hospital.

“May the Almighty God comfort the family and all of us.”

The versatile producer, academic, playwright and former broadcaster, Akinwale, was the producer of a popular movie, ‘Sango’.

He was, also, the pioneer board chairman of the University of Ilorin FM.

Akinwale was born to the Royal household of Pa Akinwale in the ancient City of Ibadan and attended St. Lukes Demonstration School, Molete Ibadan, Oyo State, and then proceeded to Methodist High School also in Ibadan, where he was introduced to Theater Arts.

In 1966, he acted as ‘Imodoye’ in a movie titled ‘Ogboju Ode ninu Igbo Irunmole,’ produced by one of his teachers and then moved to Molusi College in Ijebu Igbo, where he obtained his Senior School Leaving Certificate.

He proceeded to the University of Ibadan before commencing academic work as a lecturer at the Polytechnic Ibadan. He became the Dean, Faculty of Arts and Culture of the University of Ilorin, and he was also the Chairman of Oyo State Council for Arts and Culture.

Prof Akinwale had written several books and articles on Theatre Arts in Nigeria. Some of his publications include; ‘From Compound Space, to the Living Stage’ Nigerian Theatre Journal. Vol. 2, No. 1. (1998); ‘Theatre and Democracy in Nigeria’ Nigerian Theatre Journal. Vol. 6, No. 1, ‘Nigerian Playright’; Zulu Sofola (2005); ‘The Nigerian Theatre and Economic Viability.’ Arts Administration in Contemporary Nigeria; The Nigeria Broadcaster’ Media Nigeria; ‘The Theatre and Nigeria’s New Democratic Environment: A Sociological Overview,’ and many more.

He won the Best Indigenous actor award at the 4th Africa Movie Academy Awards.

He had featured in quite a number of movies as an actor and producer; he has produced many home videos in Nigeria.

He featured in movies such as; Sango, Ladepo Omo Adanwo, Clash of the Gods, Iranse Aje, Eti Keta among others.

Prof Akinwale’s contribution to the Theatre and Movie industry in Nigeria gave him the leverage of being assigned South-West Zonal Co-ordinator for the Abuja Carnivals, and also a judge for the National Festival for Arts and Culture (NAFEST).

Meanwhile, President Muhammadu Buhari has commiserated with the Akinwale family and UNILORIN on the passing of the Professor.

Buhari, in a message by his Special Adviser on Media and Publicity, Femi Adesina, noted that the deceased contributions were outstanding to the development of the Performing Arts in Nigeria in a career spanning over four decades on stage, screen, lecture rooms and the airwaves.

According to him, the scholarly works of the accomplished thespian, playwright and versatile producer, preserved in films and published books, will continue to inspire and delight audiences in years to come.

Nigerian, Pearlena Igbokwe Makes History, Appointed Chairman Of America’s Universal Studio Group |The Source

By
The Source
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Pearlena Igbokwe

By Akinwale Kasali

Nigerians in diaspora are making waves and hoisting, high, the nation’s flag.

A Nigerian-born Media Executive, Pearlena Igbokwe, has been appointed the Chairman of Universal Studio Group in the United States.

Universal Studio Group, a division of NBCUniversal, one of the world’s leading media and entertainment companies in the development, production and marketing of entertainment, news and information for global audience, has  made history by appointing the Nigerian. Igbokwe is, also, the first African, and the first female to be so appointed.

The Group, also, comprises of Universal Television, UCP and NBCUniversal International Studios.

According to a statement by Universal Studio Group, she will lead the company’s growing global television studio businesses and report directly to Jeff Shell, CEO, NBCUniversal.

Most recently, Igbokwe was president of Universal Television, where she oversaw all aspects of the studio business and achieved record volume for the legacy studio.

Some of the programmes under her purview include the critically acclaimed comedies “Russian Doll,” “The Good Place,” “Superstore,” “Brooklyn Nine-Nine,” and “Little America,” popular dramas “Good Girls” and “New Amsterdam,” and Dick Wolf’s new “FBI” and “FBI: Most Wanted,” among many others.

She, also, served as Executive Vice President, Drama Programming, for NBC Entertainment, where she developed the top-rated new broadcast dramas.

Before joining NBCUniversal, Igbokwe worked at Showtime for 20 years, and was involved in developing a variety of hit series including “Dexter” and “Nurse Jackie.”

She was instrumental to the five-season run of the hit Showtime series “Soul Food,” a two-time NAACP Image Award winner for Best Drama Series.

Igbokwe currently serves as the Vice President of the Hollywood Radio and TV Society (HRTS) board and is a member of the Television Academy Executive Committee.

She moved to New Jersey with her family In 1971, at age six, and still sits on the Board of Directors of eBay, AFI and IAC/InteractiveCorp.

She is married, has two children and resides in Los Angeles, United States of America.

Kano: Falana Drags FG, State Govt To African Commission, Over Death Sentence On Musician |The Source

By
Akinwale Kasali
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0
Femi Falana

By Akinwale Kasali

Human Rights Activist, Femi Falana, SAN, has dragged both the Kano State Government and the Federal Government of Nigeria to the African Commission on Human and Peoples’ Rights in Banjul, The Gambia, over the death sentence issued to Kano singer, Sharif Yahya Sharif.

The death sentence on the 22 year-old musician for alleged blasphemy has generated controversy, bringing to fore the fight for supremacy  between the Constitutional Law guiding the Nation, the Customary and the Sharia Law.

In the petition dated 8th September 2020, the father of Popular Musician, Folarin Falana, known as Falz, asked the Commission to exercise its mandates and authority under the African Charter on Human and Peoples’ Rights, and pursuant to the Commission’s order 100(1) Rules of Procedure, 2020.

Falana insisted that Nigeria has deliberately and willfully disregarded the request by the African Commission to the effect that African countries, including Nigeria that still retain the death penalty, should fully comply with their obligations under the African Charter on Human and Peoples’ Rights, and guarantee every person accused of capital punishment fair trial.

The petition reads: “I am writing to you on behalf of Sharif Yahya Sharif to ask the Commission to consider this request for provisional measures. The request is submitted in conjunction with our communication on behalf of Sharif Yahya Sharif convicted and sentenced to death for blasphemy in Kano State of Nigeria.

“When the petitioner informed the Court that he could not afford and secure the services of a lawyer to defend him, the Court ordered the Legal Aid Council to assign him a lawyer so that the petitioner could enjoy access to legal representation.

“However, the order was disobeyed by the Legal Aid Council. The Legal Aid Council is the body established by law to provide legal support to indigent citizens especially in cases involving death penalty.

Yahaya Sharif-Aminu
Yahaya Sharif-Aminu

“An appeal at the Kano State High Court against the conviction and death sentence imposed on the petitioner has been filed, but we submit that the petitioner will not enjoy a fair hearing, as he continues to face imminent execution by hanging.

“Nigeria is a state party to the African Charter on Human and Peoples’ Rights but there is a growing crackdown on human rights including the rights to freedom of expression, peaceful assembly, and attack on the rule of law.”

Condemnations have trailed the death sentence passed on the Musician, by a Kano Sharia Court, from across the world over a song which, allegedly, blasphemed the Holy Prophet, Mohammed.

While the Nigeria Bar Association, NBA, rose in strong condemnation of the death sentence, the Kano branch of the NBA, commended it. Their members refused to take briefs for the appeal against the judgement, allegedly, fearing mob action against them by fundamentalists.

The hope that the Kano State Governor,  Abdullahi Ganduje, would use his discretion and quash the death sentence was dismissed when Ganduje said he would gladly sign that the execution of the Musician be carried out.

After much delay, the Appeal was filed but there are fears that it will be an exercise in futility. Many think it is possible for any Court in Kano to overturn the death sentence, for fear of the wrath of fundamentalists.

Ekiti: How Gunmen Killed LG Director In The Presence Of His Wife |The Source

By
Ayodele Oni
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0
David Jejelowo

By Ayodele Oni

Fear and anxiety have gripped residents of Ado Ekiti as a senior local government official was shot dead by yet to be identified gunmen.

The incident, according to residents of Ijan road in the Ekiti state capital, occurred at about 10.00pm on Sunday.

The deceased, a Director at the state Local Government Commission, David Jejelowo, was found in the pool of his blood after the suspected killers had escaped.

The incident has thrown residents of the area into confusion forcing some of them to flee the area for fear of being arrested by the police.

Wife of the deceased, Olusola, explained that the deceased, herself, and other family members were relaxing in the sitting room when they noticed  movements around the window.

As they attempted to scamper for safety, they started hearing gunshots, and the bullets hit the deceased.

She appealed to the police and other security agencies to fish out the killers of her husband, saying they should not allow it to go the way of previous cases in the state stressing that such killers must be brought to book to ensure justice.

Mrs Jejelowo pointed out that members of the family of the late Director were still wondering what Mr Jejelowo did to warrant his murder.

She added that help did not come early as the deceased was in the pool of his blood for over thirty minutes without any assistance before he was rushed to a nearby hospital and they were later referred to the Ekiti state University Teaching Hospital where he was confirmed dead.

The Ekiti state Police Command’s Public Relations Officer, Mr Sunday Abutu, confirmed the incident saying that nobody has been arrested, but investigation was on- going to unravel the motive behind Mr Jejelowo’s killing.

Amendment Of Constitution, Useless; South East Region, Cheated |The Source

By
The Source
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0

By The Yoruba Summit Group

The regular meeting of the Yoruba Summit Group has ended. It undertook an in-depth review the state of Nigeria in relation to the interests and aspirations of the Yoruba Nation. Notable issues were appraised.

These included the Waterways  Bill pending  in the National Assembly, recurrent quest to amend the 1999 Constitution, the impending landmark 60th Independence Anniversary date of October 1, 2020, and the mechanism of our involvement in the polity of Nigeria as it is unraveling  politically and economically under the watch of the Buhari administration.

As we were preparing this communiqué, Global Terrorism Index screams “Nigeria has Emerged as The Most TERRORISED Country In AFRICA…. Ranked 3rd Most TERRORISED Country In The World!”

We reiterate once again, the solution to Nigeria’s problems does not lie in the 2023 elections, neither does it lie in the charade embarked upon by the NASS under the guise of a Constitutional Review.

The YSG strongly believes that the current exercise to amend the Nigerian constitution is a needless, irresponsible and surreptitious gambit to distract the various Nigerian ethnic nationalities agitating for Restructuring, true Federalism or self-determination.

How can you ask people to submit memoranda to amend a fatally flawed constitution which ab-intio contains contrived clauses and entrenched imbalances which will nullify the aspirations of many major ethnic groups in the country, especially in the southwest?

There is an unfair representation of many ethnic nationalities in the NASS because of our flawed census figures and unfair geographical division of the country into states and local governments done by military fiat by soldiers of northern extraction following successive coups.

For example, the current situation whereby all the federal legislators in the South East Region, originally one third of the tripod that held Nigeria together,  adds up to just the number of legislators in Kano State should not be employed to amend a constitution which requires a 2/3 majority vote of the National Assembly.

Similar distortions also exist in the South West when we compare the 20 Local Governments in Lagos to that of Kano with 44. As it is, the North has been given a virtual veto power over all the other regions  combined. This shouldn’t be.  That is why there is always the refrain “GO TO THE NATIONAL ASSEMBLY” from the North whenever unfairness or imbalances in the polity are pointed out.

The totality of the Nigerian 1999 Constitution must be jettisoned and a fresh document produced, which will truly reflect the wishes of “we the people”.

Presently, every signal from the government, contradicts a desire for genuine change – from the President’s pronouncements since he came, his various actions, the way various bills being smuggled into and sometimes by the legislature into the NASS, particularly, the vexatious Water Bill, a very clear ANTI-RESTRUCTURING venture embarked by this administration and supported by same National Assembly, the evidence of which the chair of a committee had the audacity to call it, “A Done Deal”, with same National Assembly asking the people being dispossessed of their land to come with memoranda — To do what exactly? Accord legitimacy to illegality and fraud?

THE WAY FORWARD

The Buhari administration that has the Senate and the National Assembly under her control should set up a TECHNICAL CONSTITUTION DRAFTING COMMITTEE (TCDC) to work out within three months a new framework into a document as basis for all ethnic nationalities to live in peace as collaborative neighbours, using existing documents in the public domain.

The TCDC should have the mandate to produce guidelines that will facilitate the voluntary reconfiguration and realignments by ethnic nationalities, sub-ethnic nationalities, clans and communities as would later form the basis of their mutual accommodation to live together in a true federation or to actively seek self-determination in order to actualize their God-given human rights under international laws.

The outcome of the TCDC effort is to be the subject of a National Referendum in order to secure the consent of the Nigerian people.

The National Assembly is to adopt the Doctrine of Necessity once again, by making the Law with provisions on processes to guide the historic transition from the 1999 Constitution until the enactment of a new Constitutional order is attained. The new order shall be the basis of any further elections in Nigeria.

The YSG also re-affirms its earlier position that notwithstanding the ambition by a very tiny household in our midst, the Yoruba Nation and her peoples should not be part of another charade in the name of 2023 Federal Elections. We should not confer legitimacy to an exercise in futility at the end of which the gloating message of the conqueror shall be: “go to court.” We therefore wish our peoples to be wary of the insolent offers of Presidency positions, pitting South East against South West Regions. It is a ruse!

Nigeria at 60 on October 1, 2020

It is gratifying to see synergy of thoughts even among the fathers of the nation with the position of the Yoruba Summit Group.

President Obasanjo described the National Assembly’s fresh constitutional review exercise also as a waste of time and resources. He praised socio-cultural groups like NEF and Yoruba Summit Group for describing it as such. Quoting president Obasanjo, he said, “That ray of hope was somewhat manifested in the last 10 days or so when the Northern Elders Forum and Yoruba Summit Group complemented each other in their separate press releases on the Senate’s idea of inviting submissions from Nigerian public for constitution amendment which had been regular money-gulping activity by every National Assembly session since 1999, a veritable source of waste without end, calling Nigeria, a failed state.

Likewise General Dongoyaro, who described the present day Nigerian situation as, “Frightening and Unencouraging”!

The YSG, having considered the situation of our polity and the expressed yearnings of majority of well-meaning Nigerians, the clear alternative for everyone would be for self-determination quests to now proceed rapidly without any further restraint. It has become patently untenable for the Yoruba Nation to tolerate further incompetence and impunity as has been foisted by the Fulanis on all other Ethnic Nationalities across Nigeria.

YSG hereby calls on all political office holders of Yoruba extraction to heed the clarion call and yearnings of their peoples for self-respect and self-determination. History and practical imperatives of people’s action will harshly judge and treat all who as willing tools, collaborate with internal colonisers.

YSG hereby notify the United Nations, European Union and all foreign countries including UK, US, China, Russia etc and multinational lending institutions to cease and desist forthwith from any further disbursement on loans and even grants, as such subsequent disbursements shall not be countenanced as part of assets and liabilities of the Nigeria country that would most sooner than later be reconfigured or dissolved.

All our peoples, along with those of other regions are hereby advised to regard October 1, 2020 as a day of unhappiness and an anniversary of the Nigerian dream that has been reduced to rubbles and ashes. The mindless bloodletting perpetrated by AK-47-armed Fulani militia in the Middle Belt region and unchallenged incursions into all parts of Southern territories are abominations to civility, and a clear pointer to their flagrant disregard for human life. As there is nothing to celebrate on  the occasion  of 60th anniversary of “Nigerian Independence.”

YSG being a Federation of Yoruba bodies hereby enjoin all member groups to think creatively and execute passive, peaceful ways and means of asserting their human rights. This may include the wearing of RED BANDS on the wrist or shoulders in commemoration of the blood of the innocents that have been spilled. These activities should commence on October 1, 2020 and continue thereafter, until we secure victory.

We hereby affirm that we mean well for the Yoruba Nation and all other peoples across the territory of what is otherwise known as Nigeria, in seeking the face of God Almighty as we venture into the future with hope for better lives.

This Communique was issued  out of the Regular Meeting of the Yoruba Summit Group, held on Thursday, 10, September, 2020. It was signed on its behalf by Mogaji Gboyega Adejumo, its Publicity Secretary

Fayose Blasts Buhari For Destroying The Economy |The Source

By
Bayo Bernard
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0

By Tosin Olatokunbo

Ayodele Fayose, a former governor of Ekiti state is one of the sworn enemies of former President Olusegun Obasanjo. The former Ekiti helmsman hardly agrees with Obasanjo on anything, the latest of their disagreement, is his outburst against the ex –president over his comment on the death of billionaire Buruji Kasamu who died last month.

But the spate of insecurity across the country has brought the two antagonists together as both Obasanjo and Fayose have heaped the blame of incessant killings by criminal gangs on the failure of the federal government to rein in the perpetrators.

Obasanjo had last week criticised the Buhari government for being helpless in the face of clashes among ethnic groups in the country, adding that the country has become a failed state.

The former president spoke during a meeting organized by ethnic nationalities in Kaduna.

Barely a week after that incident, Fayose has also blamed the federal government for failure to pull the country from the brink of collapse, insisting that “only God will deliver Nigeria,” from her current predicaments.

Fayose said in an interview with Dele Momodu that the security situation in the country has never been this bad.

He also stated that the Buhari government has mismanaged the country’s economy.

According to him “Of all the Presidents, I don’t like Obasanjo ways, I tell you the truth; I don’t like his ways at all. Me and him we are not on the same page but Obasanjo is the only one-time Nigerian President that has helped this country here and there.

“The fact remains that if you look at the Obasanjo time, there are certain things he put in place and don’t forget, he saved this country a lot of money. He saved this country a lot of money. These people have squandered all we have. The way Obasanjo brought it down, they have taken it up.

“That was why what Obasanjo said today (Saturday), in a way, I agree with him. We don’t normally agree but I agree with him.

“When I started talking about President Buhari, even you, Dele Momodu, criticised me. Even you, Dele Momodu was looking at a saint in Buhari. Today, most of you now should cover your faces in shame, that you gave Nigerians a wrong road and a wrong path. It’s regrettable.”

Veteran Nollywood Actor, Prof. Ayo Akinwale Dies |The Source

By
Akinwale Kasali
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0
Professor Ayo Akinwale

By Akinwale Kasali

Tragedy has again struck the Nigeria make-believe industry, popularly called Nollywood. Veteran actor, Prof. Ayo Akinwale has died. He died on 13th September, 2020.

The Academic-turned Nollywood Actor was an astute Professor and Lecturer at the Department of Performing Arts, University of Ilorin.

The death of the veteran was announced via a statement released by Prof. Abdulrasheed Adeoye, Dean, Faculty of Arts, Unilorin.

He wrote:

“If life is not vanity upon vanity, then, what is it? Death is indeed wicked!

“With heavy heart and total submission to the will of the Almighty God, I announce the passing on to higher glory of Prof. Ayo Akinwale, of the Department of the Performing Arts, University of Ilorin. He died today, the 13th September, 2020 at the Unilorin Teaching Hospital.

“May the Almighty God comfort the family and all of us.”

The death of Prof. Akinwale is a big blow to the movie Industry and the University of Illorin, as his wealth of experience will be missed.

He appeared in so many Yoruba Nollywood films, English Soap Operas and Stage Plays.

The late Professor will be missed In the industry by upcoming Artistes and some who had drawn from his founatain of knowledge in academics and Nollywood.

FG Borrows $10 bn From World Bank In Six Months |The Source

By
Bayo Bernard
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0
Zainab Shamsuna Ahmed,minister of finance

By Fola James

The Debt Management Office, DMO has disclosed that Nigerian government borrowed over $10 billion from the World Bank in six month, the highest external debt to any development partners.

According to the Office the total indebtedness to the World Bank Group now stands at $10.46bn

The breakdown of the country’s external debt stock as of June 30, 2020 indicates that her debt to the International Development Association and the International Bank for Reconstruction and Development were $10.05bn and $409.51m respectively.

The International Bank for Reconstruction and Development and the International Development Association are both organs of the World Bank Group.

Other organisations of the multilateral financial institution include the International Finance Corporation, the Multilateral Investment Guarantee Agency and the International Centre for Settlement of Investment Disputes.

The World Bank Group and the African Development Bank Group are two prominent multilateral institutions that lend to the nation.

Nigeria’s total indebtedness to the multilateral institutions during the period under review was put at $16.36bn, representing 51.97 per cent of the country’s total external debt stock.

Also the DMO put the country’s indebtedness to the African Development Bank, AfDB Group at $5.896bn.

According to The Punch newspapers, the external debts of Nigeria to African Development Bank, Africa Growing Together Fund and African Development Fund are $1.325bn, $140,000, and $921.91m respectively.

Meanwhile, the Nigerian government said it will not seek debt forgiveness from World Bank or any other international development partners.

The assurance came on the crest of worries over the nation’s debt stock which now stands at over N33 trillion, according to figures provided by DMO last week.

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