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Court Jails Chikason Industrial MD For Five Years Over Counterfeit Goya Oil

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Goya Oil

By Ayodele Oni

 

The National Agency for Food and Drug Administration and Control (NAFDAC), in its war against counterfeit, has secured the conviction of an Aba-based businessman, Innocent Okoye, for producing counterfeit Goya Extra Virgin Olive Oil.

 

A Federal High Court sitting in Umuahia, Abia State, sentenced Okoye, to five years’ imprisonment after he was found guilty of producing counterfeit Goya Extra Virgin Olive Oil.

 

Justice K. O. Ogundare delivered the judgment, after finding Okoye guilty on two counts brought against him by NAFDAC.

 

The court sentenced the convict to five years’ imprisonment with an option of a ₦5 million fine.

 

Okoye, who is the Managing Director of Chikason Industrial Nigeria Limited, Aba, was prosecuted following an investigation by NAFDAC into the illegal production of imitation Goya Extra Virgin Olive Oil, a product widely used in Nigeria.

 

NAFDAC disclosed the conviction in information made available to journalists.

 

According to the agency, the prosecution followed an enforcement operation conducted in April 2026 by its Investigation and Enforcement Directorate, during which officials uncovered an illegal production facility in Aba allegedly being used to manufacture counterfeit olive oil.

 

During the operation, NAFDAC officials arrested Okoye and recovered samples of products suspected to be counterfeit Goya Extra Virgin Olive Oil.

 

The recovered samples were subsequently forwarded to the agency’s laboratory for scientific analysis to determine their authenticity and compliance with applicable regulatory standards.

 

Following laboratory confirmation that the products were counterfeit, NAFDAC instituted criminal proceedings against Okoye before the Federal High Court in Umuahia.

 

After hearing the case, Justice Ogundare found the defendant guilty on the two counts and imposed the five-year custodial sentence, with an option of a ₦5 million fine.

 

Reacting to the judgment, NAFDAC stated that the conviction demonstrated its determination to prosecute individuals involved in the production and distribution of counterfeit food products that pose risks to public health.

 

The agency warned that food counterfeiting not only violates established product standards but also exposes unsuspecting consumers to potentially harmful substances.

 

It explained that counterfeit edible oils may contain undeclared ingredients and could be manufactured under unhygienic conditions, thereby increasing the risk of contamination.

 

NAFDAC further warned that regular consumption or application of such products to the skin could expose users to harmful contaminants and other health risks.

 

The conviction comes amid repeated warnings by the agency over the circulation of counterfeit Goya oil in Nigerian markets.

 

In January 2026, NAFDAC raised concerns about fake Goya oil packaged in polyethylene terephthalate (PET) plastic bottles.

 

The agency’s Director of Investigation and Enforcement, Dr Martins Iluyomade, explained at the time that authentic Goya oil was imported in glass bottles.

 

Iluyomade also disclosed that some operators at Oke-Arin Market, Idumota, Lagos, were allegedly processing palm oil with colouring agents and presenting the resulting products as Goya oil.

 

The agency consequently urged consumers, traders and religious organisations to exercise caution when purchasing olive oil and other regulated products, particularly by paying attention to their sources and packaging.

 

NAFDAC reiterated its commitment to protecting public health through sustained market surveillance, laboratory investigations, enforcement operations and the prosecution of offenders involved in the manufacture and distribution of counterfeit products.

 

The agency was established under Decree No. 15 of 1993, as amended by Decree No. 19 of 1999, and is currently governed by the National Agency for Food and Drug Administration and Control Act, Cap. N1, Laws of the Federation of Nigeria, 2004.

 

Its statutory responsibilities include regulating and controlling the manufacture, importation, exportation, distribution, advertisement, sale and use of food, drugs, cosmetics, medical devices, packaged water, chemicals and detergents.

 

The agency maintains that effective regulation and enforcement are essential to ensuring that products manufactured, imported, distributed and sold in Nigeria meet applicable safety and quality standards.

FIFA Under-17 Women’s World Cup: Flamingos Zoom Into Quarter Finals, Defeat Mexico

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Flamingos of Nigeria

By Akinwale Kasali

 

Goals from Oluebube Umejiaku and Mary Dunstan gave the Flamingos of Nigeria victory against Mexico in their Round of 16 victory, despite a late goal from Emily Delgado that threatened to set up a tense finish.

 

The Nigerian side has, therefore, secured a 2-1 victory to book a place in the quarter-finals of the FIFA U-17 Women’s World Cup in Morocco.

 

The victory on Thursday extended the Flamingos impressive recovery from an opening-day defeat to Poland.

 

Recall that the Flamingos began their campaign with a 2-1 opening loss to Poland but responded with a 2-0 victory over Puerto Rico before producing one of the tournament’s biggest surprises by defeating defending champions North Korea 3-1.

 

Umejiaku broke the deadlock in the 39th minute after the North Americans had resisted a barrage of Nigerian attacks.

 

The forward capitalised on a defensive error, collected the ball inside the box and finished past goalkeeper Ania López to give Nigeria the lead.

 

The goal was reviewed by the Video Assistant Referee (VAR) following a challenge involving Tosin Rafiu and Zoe Sánchez earlier in the move, but the referee upheld the decision.

 

Nigeria continued to press after the break, and Dunstan doubled the advantage in the 70th minute.

 

The midfielder reacted quickest after substitute Precious Oscar’s effort was punched away by López, collecting the rebound before lifting her shot over the goalkeeper and into the net.

 

VAR officials reviewed the goal for a possible foul by Oscar in the build-up but ruled that it should stand.

 

Mexico mounted a late push, with Delgado pulling one back in the second minute of added time after controlling a loose ball following a corner and firing into the net.

 

However, the goal came too late to inspire a comeback as the Flamingos held on to secure their place in the last eight.

 

The victory over Mexico continues a campaign in which the Flamingos have demonstrated their ability to recover from disappointment.

 

After losing to Poland in their opening Group B fixture, Nigeria defeated Puerto Rico through goals from Oluwakemi Adegbuyi and Precious Oscar.

 

Their most significant group-stage result followed against North Korea, the two-time defending champions, whom they beat 3-1.

 

Adegbuyi opened the scoring in the 15th minute before Umejiaku doubled Nigeria’s lead in the 38th minute. Kanyinsola Rodiat Yusuf added a third with a free-kick in the 56th minute, while North Korea scored a late penalty.

 

The result ended North Korea’s 18-match unbeaten run in regulation time at the competition and secured Nigeria’s passage to the knockout stage.

 

The Flamingos finished second in Group B with six points, having scored six goals and conceded four across their three group matches.

 

Their recovery from the defeat to Poland has now carried them through the Round of 16, leaving them two victories away from a place in the final.

 

Following the victory over the Mexican team, the Flamingos will will face Venezuela in the quarter-finals on Sunday, November 1, after the South Americans eliminated Germany with a 1-0 victory in their Round of 16 encounter.

 

Venezuela scored through Diana Bravo in the fifth minute and held on despite Germany’s efforts to find an equaliser.

 

The fixture will present Nigeria with another test as they seek to advance to the semi-finals and improve on their third-place finish at the 2022 edition in India.

OPINION: Who Pays the Obidients?

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Valentine Obienyem
Valentine Obienyem

By Valentine Obienyem

 

Even when he was Governor, throughout the years that followed, and up till now, Mr Peter Obi has never maintained a special group of people whom he pays to defend him or sing his praises. Whenever I make this point, people hardly believe me. Perhaps this is because, in our political environment, people have become so accustomed to the idea that praise must be purchased, criticism sponsored, and every political movement sustained by a financial godfather. In fact, some even pay writers to confer posthumous sanctity on their patrons. We have lived with politics as a marketplace for so long that many find it difficult to imagine people devoting their time, energy and resources to a cause simply because they believe in it.

 

I have encountered highly placed individuals who called me to beg me to tell Obidients to leave them alone. One of them was particularly direct, telling me he had been reliably informed that these people were under my control and that I paid and directed them. I took time to explain that they were acting out of their own convictions, not on my instructions or for money. They had found in Obi someone who embodied their hopes for a better Nigeria. They did not need anyone to tell them when to speak, what to write or whom to challenge. Their motivation came from their own experiences of Nigeria and their determination not to remain silent about its problems.

 

The greatest misconception about Obi’s supporters is that a movement of such energy and persistence must have a hidden command centre, backed by money. Yet thousands of Nigerians, at home and abroad, can independently arrive at the same political conclusions without being paid or controlled. What looks like coordination is often the natural outcome of shared convictions. These people do not necessarily agree on everything, nor do they all operate in the same way. What unites them is the belief that Nigeria needs a different kind of leadership.

 

Obi’s supporters are largely organic and spontaneous. They come from different professions, generations, social classes and geographical locations. They include lawyers, doctors, academics, businesspeople, artisans, civil servants, students, traders and Nigerians in the diaspora. Many are ordinary citizens who understand firsthand the consequences of poor governance. They are frustrated by a system that makes life unnecessarily difficult and are searching for a country where leadership means service, public resources are managed responsibly, and citizens have a fair opportunity to prosper. They see Obi as housing the spirit needed to change things in Nigeria.

 

This is why, for many Obidients, supporting Obi is not a job but a cause. They invest their time in writing, analysing policies, challenging narratives they consider misleading such as those that come from the Soludo’s and Umahi’s, correcting misinformation and encouraging civic participation. Some are highly visible, while others work quietly within their communities and social networks. People such as Mama P, Idris Zekeri Jnr., Peter Randy Akah and Dr Money Kingland, among others, stand out for their sustained public advocacy. I doff my cap for you. Their contributions illustrate how individual conviction can sustain a political movement without requiring everyone to operate under a central authority.

 

Why, then, is Obi so loved? What combination of forces and circumstances enabled him to remain the darling of Nigerians for so many years? Piety, intellect and past performance? Obi’s past was not enough; probably, bad governance is decisive. President Bola Tinubu has not done well at all. Today, all politicians, including Tinubu, are campaigning, promising heaven and threatening hell. But Nigerians have had enough of promises. They want a leader whose character and record offer a credible alternative to the politics of extravagant promises and disappointing performance. The truth is that Obi’s character differs from those of many other politicians as the virtues of war differ from those of peace. His supporters see in him a man whose political conduct is shaped by restraint, prudence and a sense of responsibility.

 

Indeed, behind Obi burns a mind sharp, devoted and intense, and a firm, indomitable will, perhaps the will to power. He suffers from a surplus of energy in body and mind; it was nothing for him to tour five states in a day when those with the means to do so stop at the airport. Whenever he talks, one can see the fertility of his ideas and the depth of his insight. His genius for prudent policy and assiduous attention to detail is so outstanding a factor in his success that those who did not know him thought him an economist, but he is, perhaps, an economist by practice, to borrow the words of Umahi. We find in him the old Spartan qualities of perseverance and discipline. As Governor, he guarded the treasury against all political raids. This is precisely what his supporters want him to do as President, a prospect that, unfortunately, gives the raiders goose pimples.

 

To many Nigerians, he represents the possibility of leadership defined by character, compassion, integrity, prudence and accountability. All Nigerians admit his virtues, especially his reputation for integrity, though they may differ on the extent of his achievements or the suitability of his policies. His emphasis on education, healthcare, poverty reduction and the prudent management of public resources resonates with people tired of a political culture that often places the interests of the powerful above those of ordinary citizens. They see in him the possibility of a country where government works and public office is treated as a responsibility rather than an avenue for personal enrichment. As I have written elsewhere, Nigerians would not so often need to depend financially on relatives abroad if we had a working nation. For many, Obi represents the hope that Nigeria can become such a country.

 

The intensity of this support must also be understood against the realities of everyday life. Nigerians have watched their purchasing power decline, their businesses struggle and their children face an uncertain future. They confront rising food prices, expensive transportation, inadequate healthcare, unreliable electricity and limited employment opportunities. For them, politics is not merely a contest between personalities; it determines the conditions under which they live and the opportunities available to their children. When a political figure speaks to these frustrations, the resulting support can be powerful because it is connected to lived experience, not simply campaign promises.

 

Of course, it would be unrealistic to suggest that everyone who identifies with Obi is entirely free of personal interests, or that every action taken in his name is beyond criticism. Every political movement attracts people with different motives, including those who expect recognition, appointments or other benefits. Some may eventually become disillusioned when their expectations are not met. The political journeys of Kenneth Onuku Okonkwo, David Bwala, Bayo Ononuga,  Reno Omokri and Femi Fani Kayode remind us that political association can be influenced by differing expectations.

 

The distinction, therefore, is not between a movement in which everyone is a saint and one in which everyone is a hireling. It is between a political movement sustained substantially by genuine conviction and one whose existence depends primarily on financial inducement. A paid advocate may withdraw when the money stops, but someone motivated by a deeply held belief is more likely to remain engaged even when there is no immediate reward. Such a person may disagree with Obi, criticise his decisions or question his policies without abandoning the broader aspiration for a better Nigeria.

 

Consequently, Obidient movement cannot be understood merely as a political organisation built around one candidate. It is also a gathering of citizens united by a shared aspiration. Its members initiate conversations, interpret events, challenge opposing arguments and mobilise others according to their own judgement. This decentralised character makes the movement difficult to extinguish. Individual supporters may leave, prominent voices may change their positions, and political circumstances may shift, but the underlying movement can persist as long as the grievances and aspirations that sustain it remain unresolved.

 

Those who disagree with Obi are entitled to question his record, challenge his policies and oppose his candidacy. His supporters, in turn, must remain open to scrutiny and defend their arguments with evidence. No politician should be placed beyond criticism, and genuine conviction must never become an excuse for abandoning independent thought. But it is equally wrong to dismiss every person who defends Obi as a paid agent. Such an assumption denies ordinary Nigerians the capacity to think independently, organise around shared interests and participate in public life out of conscience. We must also beware of quack writers who, like Soludo and Umahi, appear willing to bend history to suit their purposes. Political disagreement is legitimate; the deliberate distortion of history is not.

 

Ultimately, the more important question is not how much Obi pays his supporters, but why so many people are willing to spend their own time, energy and resources advocating for him. For many, the answer lies in their desire for a Nigeria where public service matters, public resources benefit the public, and citizens can live with dignity without depending on political connections or relatives abroad. Whether Obi can fully meet these expectations must be judged by his policies, actions and performance. But the convictions that inspire his supporters deserve to be understood rather than casually dismissed. Some things are done for money; others are done because people believe something worth fighting for is at stake. For many Obidients, that something is the future of Nigeria and the country they hope to bequeath to their children.

2027: FCT Minister, Wike, Lists Qualities Of Nigeria’s Next President

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Nyesom Wike - FCT Minister
Nyesom Wike

By Ayodele Oni

 

Minister of the Federal Capital Territory (FCT), Nyesom Wike, has emphasized that  challenges facing Nigeria required more than political ambition, adding that the ability to make decisions, build consensus and implement policies should be central to the choice of the next president.

 

According to the minister, the country needs a leader who possesses the courage to make difficult decisions, mobilise support across political divides and implement policies capable of addressing its economic and developmental challenges.

 

Wike made the remarks on Thursday while speaking at the Rainbow Coalition Stakeholders’ meeting in Oyigbo Local Government Area of Rivers State, where he argued that leading Nigeria requires more than popularity, political rhetoric and social media appeal.

 

He maintained that the presidency should not be treated as a contest of speed or popularity, insisting that the ability to govern effectively must take precedence over public perception.

 

“The presidency is not a 100-metre race. You must have the capacity,” Wike said, stressing that Nigeria’s challenges require a leader who understands the demands of governance and is prepared to take decisive action.

 

Wike argued that identifying Nigeria’s problems was not enough, insisting that the country needed a leader with the courage and political will to confront them.

 

“You have identified the problem, but you don’t have the courage to say, ‘I will confront this,’” he said.

 

He added that courage in leadership should not be confused with the expectation that a leader must always be right, but rather with the willingness to take responsibility and make difficult choices in the national interest.

 

The minister also highlighted the importance of political experience and the ability to build alliances, arguing that effective leadership requires bringing people together across party lines to achieve a common objective.

 

Wike cited the political coalition supporting President Bola Tinubu’s administration as an example of the need to build a broad-based political platform capable of securing electoral victory.

 

According to him, expanding political support beyond a single party could strengthen Tinubu’s chances in the 2027 presidential election.

 

He suggested that political parties and their leaders must recognise the importance of collaboration rather than relying solely on their individual political structures.

 

The minister further defended the need for economic reforms, acknowledging that the policies introduced by the Tinubu administration had required sacrifices from Nigerians.

 

He, however, argued that such sacrifices were necessary to achieve long-term national development, urging citizens to consider the broader objectives of the reforms.

 

“In life, you must make sacrifices to get to where you are going,” he said, maintaining that the country’s reform efforts should be assessed in the context of their intended benefits.

 

Wike also called for a more practical approach to political leadership, insisting that Nigeria needed leaders who could translate promises into concrete results.

 

Wike reminded Peter Obi, Presidential Candidate of Nigeria Democratic Congress (NDC) and the former Anambra State Governor that the Nigerian presidency is not a 100-metre race, but a position that requires courage, capacity and the ability to confront the country’s challenges.

Governor Uzodimma Remains Imo West Senatorial Candidate – APC

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Hope Uzodimma
Governor Hope Uzodimma

The All Progressives Congress, APC, Imo State Chapter has said whoever is habouring any thoughts that Governor Hope Uzodimma has been replaced as the Senatorial Candidate of Imo West in the January 16 2027 should perish such thought.

 

In a swift response to the ruling by a Federal High Court, Abuja, on Thursday, which asked the APC to forward the name of a former Governor of the State, former Senator Rochas Okorocha to the Independent National Electoral Commission, INEC, as the rightful Candidate, the Party in a statement signed by its State Publicity Secretary, Onwuasoanya FCC Jones,    PhD, said there is no change in the candidacy of the Party, and affirmed Governor Uzodimma as its candidate.

 

Following is the full text of the statement.

 

“The All Progressives Congress is aware of some unverified reports making the rounds across many social media platforms and being circulated by renowned opposition figures about a purported change in the candidacy of our Party for Imo West Senatorial District.

 

“The Party wishes to state, without any confusion, that His Excellency Distinguished Senator Hope Uzodimma, CON, remains the candidate of our Party for Imo West Senatorial District, having won the primaries of our great Party with the overwhelming support of the majority of our Party members.

 

“The Party’s legal department shall study the outcome of a legal intervention in this matter and act accordingly.

January 16 2027

“We urge our teeming Party members and supporters of our great Party to remain focused and undistracted and remain committed to working assiduously for the victory of our Party across all constituencies in the State.”

January 16, 2027 Presidential Election Date Remains Unchanged – Presidency

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Mohammed Idris - Minister of Information and National Orientation

By Ayodele Oni

 

The Presidency has described as “fake” claims that the Federal Government is plotting to postpone the January 16 presidential election.

 

Minister of Information and National Orientation, Mohammed Idris, explained that government is not contemplating any shift in the election date.

 

“The federal government is not planning to shift the date of the election or postpone any election. This is not in the works; the federal government is unaware of this, and this is just fake news as far as we are concerned.”

 

The reaction follows an alarm raised by the African Democratic Congress Presidential Campaign Council, ADC-PCC.

 

In a statement by its Director of Strategic Communication, Phrank Shaibu, the Council alleged that there was a plan to summon INEC Chairman, Prof. Joash Amupitan, to the Presidential Villa and direct him to alter the timetable, barely 80 days to the election.

 

The ADC-PCC urged President Bola Tinubu to drop any such plan and asked Prof. Amupitan to resist any pressure and to make public any attempt to influence INEC’s timetable.

 

“The election date belongs to Nigerians. It must not be rewritten behind closed doors at the Villa,” the council said.

 

It insisted Nigerians must be allowed to decide the administration’s fate at the ballot after what it called three and a half years of high prices, shrinking incomes and hardship.

 

“A government that has made life this difficult for Nigerians must not be allowed to postpone its day of judgment,” it added.

 

On suggestions that Ebola concerns could be used to justify a shift, the ADC said the outbreak is a serious health matter, but should not be politicized.

 

It urged health authorities to contain the disease while INEC puts in place safety measures for voters and officials, citing the DG of the NCDC as saying there is currently no reason to postpone the poll.”

 

The Council also called on INEC, local observers and international monitors to stay vigilant and insist that any proposal to change the timetable be done openly, supported by published health evidence and public scrutiny.

 

The Federal Government maintains there is no plan to postpone the election, while the allegation by the ADC-PCC remains unverified.

President Tinubu’s Pilgrimage Coverup For France Trip – Atiku

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Bola Tinubu and Atiku Abubakar

By Ayodele Oni

 

Former Vice President and 2027 ADC presidential candidate, Atiku Abubakar, has questioned whether the President Bola Tinubu’s actual destination is Saudi Arabia or France alleging that the pilgrimage announcement could be a cover for a trip to France.

 

The Presidency had announced on Wednesday that President Tinubu will depart Abuja on Thursday for Makkah, Kingdom of Saudi Arabia, to perform Umrah, an Islamic spiritual exercise involving a pilgrimage to the Holy City.

 

The visit, it said,  gives the President an opportunity for spiritual reflection, devotion, and prayers for Nigeria’s peace, unity, stability, and continued progress.

 

This was made known in a statement on Wednesday by Bayo Onanuga, Special Adviser to the President, (Information & Strategy) in Abuja.

 

While in Makkah, President Tinubu will perform the religious rites associated with Umrah, seeking Allah’s guidance and blessings for Nigeria and its people.

 

Atiku however asked President Tinubu to provide daily photographic and video evidence of his announced Umrah pilgrimage.

 

Atiku made the call in a statement by Phrank Shaibu, Director of Strategic Communication of the African Democratic Congress, ADC, Presidential Campaign Council.

 

According to the statement, intelligence available to Atiku suggests Tinubu may make only a brief appearance in Makkah before travelling to France.

 

The statement, however, did not provide details of the intelligence cited.

 

The former Vice President also raised questions about the purpose of the reported trip, linking his concerns to the President’s health and an alleged $20 billion loan request involving a French business partner.

 

He urged the Presidency to clarify the issues and disclose Tinubu’s full travel itinerary.

 

Atiku added that if the trip is indeed for Umrah to pray for Nigeria, the Presidency should publish clear, current and date-stamped photos and videos daily showing Tinubu at the Kaaba and observing the rites.

 

He insisted that Nigerians should be able to verify the President’s presence in Makkah and how he spends his time during the pilgrimage.

 

The former Vice President said he and other Nigerians would join the President in praying for peace and progress, but warned against invoking the name of Allah in vain, arguing that a spiritual journey undertaken for the nation should be approached with sincerity and transparency.

 

He argued that the President’s itinerary and funding of the trip are matters of public interest because the journey was presented as a mission for Nigeria.

 

Atiku called on the Presidency to respond directly to the questions raised and provide information that would allow Nigerians to establish the President’s whereabouts and daily engagements.

SE Monarchs Insist On IPOB Leader, Kanu’s Release, Express Concern Over 2027 Elections

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Nnamdi Kanu
Mazi Nnamdi Kanu

By Ayodele Oni

 

The South-east Traditional Rulers Council has ended its quarterly meeting with a renewed demand for the unconditional release of detained Indigenous People of Biafra, IPOB, leader, Mazi Nnamdi Kanu, and a call for massive participation in forthcoming general elections among others.

 

These resolutions were contained in a communiqué issued after the council’s quarterly delegates meeting held at the Parliament of Ndi Eze, Owerri, Imo State.

 

The Monarchs expressed concern over the scheduled dates for the forthcoming national elections, saying

the dates could pose challenges for the South-East.

 

The Monarchs also reaffirmed their position that the council’s leadership should rotate to Abia State, with HRM Eze Sir Dr Linus Nto Mbah assuming the chairmanship in accordance with the council’s constitution.

 

The council also called on traditional rulers and community leaders to suspend festivals and ceremonies during the election period to enable eligible voters to exercise their civic responsibilities.

 

On traditional leadership in the South, the monarchs reaffirmed their support for the rotational chairmanship of the Southern Traditional Rulers Council among the South-East, South-West and South-South geopolitical zones.

 

They rejected any arrangement that would confer permanent chairmanship on one zone, insisting that the position should rotate among the three zones for two-year terms, in line with the decision of the Southern Governors Forum reached in Ogun State in 2025.

 

The council further called for the reconstitution of the Southern Traditional Rulers Council’s leadership to reflect recognised traditional rulers from member states and conform to the leadership template of the Southern Governors Forum.

 

The communiqué was signed by the chairman of the South-East Traditional Rulers Council and chairman of the Abia State Council of Traditional Rulers, HRM Eze Dr Linus Nto Mbah; the Obi of Onitsha, HRM Igwe Nnaemeka Achebe; and other traditional rulers from the five South-East states.

 

The monarchs expressed appreciation to Imo State Governor, Senator Hope Uzodimma, for hosting the meeting, as well as the Imo State Council of Traditional Rulers and the people of the state for their hospitality.

 

They also acknowledged the support and encouragement of governors across the South-East.

My Grouse With Peter Obi, Rotimi Amaechi – Wike

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Nyesom Wike - FCT Minister
Nyesom Wike.

By Adesina Soyooye

 

Nyesom Wike, Minister for the Federal Capital Territory (FCT), has given reasons why neither Peter Obi, the Presidential Candidate of the Nigeria Democratic Congress, NDC, nor Rotimi Amaechi, Vice Presidential Candidate of the African Democratic Congress, ADC, should be allowed to enter the Villa as President and Vice President respectively.

 

Picking first on Obi, Wike said one of the reasons why he is unfit to be Nigeria’s President is because of his famed  stinginess.

 

According to Wike, Obi is so stingy that he prefers to carry his bag by himself instead of employing a personal assistant to carry the bag for him.

 

Obi is famous for carrying his luggage himself at airports, a thing not a few people see as a sign of his humility. But Wike disagrees. He said that those who see that as a sign of humility miss the point. According to Wike, it is a sign of Obi’s stinginess. He carries his bag to stop him from spending money, from giving people money.

Peter Obi
Peter Obi

Wike made his submission on Saturday in Bonny, Local Government Area, Rivers State, during a stakeholders’ town hall meeting.

 

Wike: “Truly speaking, I gave Obi President of social media. If you were voting for president of social media, I would vote for him. But if it is to govern Nigeria, it is a capital NO!.

 

“As a former governor, you cannot be too stingy to employ a personal assistant to carry your bag. You want to show you carry your bag; we don’t want such a stingy person as president,”

 

Another reason Wike wouldn’t vote for Obi, according to him, is that Obi, allegedly, cannot stand the heat in a kitchen.

 

He accused Obi of always   running away whenever the political party to which he belongs has a crisis instead of staying put to fight and resolve the issues. Obi had, initially, left APGA for PDP. From PDP, he went to the Labour Party and was its Presidential candidate in 2023. Later, he dumped the LP for the African Democratic Congress, ADC, and soon enough, dumped the ADC for the Nigeria Democratic Congress, NDC, under which he is running for the office of the President.

Rotimi Amaechi
Rotimi Amaechi

Wike: “How will you solve the problem of the country? Did you see when there was a problem in PDP? Did I run? I defeated them.”

 

Speaking on Amaechi

Wike accused of embarking on white-elephant projects through which he, allegedly, wasted billions of Naira without results for residents.

 

Examples: The FCT Minister cited the proposed 1,000-bed Justice Karibi-Whyte Specialist Hospital, and  alleged that Amaechi’s Government squandered $39 million (₦53 billion)  without a single block erected.

 

Wike: “Thirty-nine million US dollars, 53 billion naira, gone! As I speak to you, there’s no foundation, no one block laid.”

 

Wike also pointed at Rivers state’s monorail project which, he alleged,  gulped over ₦60 billion without completion. He also alleged that a gas turbine worth $308 million was sold and only $308,000 was left in state coffers when he, Wike, assumed office in May 2015 as Governor.

 

He, also, mocked Amaechi’s proposal to spend $10 million to fumigate the state against mosquito bites, and wondered how possible  such a project in a coastal state bordered by several neighbouring states could have had any effect.

Fidelity Bank Redeems $400m Eurobond At Maturity

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Fidelity Bank Plc

Fidelity Bank Plc has successfully redeemed its 5-Year US$400 million Senior Unsecured Notes at maturity, reaffirming its commitment to meeting its obligations to investors and reinforcing its track record in the international debt capital markets.

Issued on 28 October 2021, the 5-year Eurobond matured on 28 October 2026 and carried an annual coupon of 7.625 per cent, payable semi-annually. Fidelity Bank met all scheduled coupon payments throughout the life of the instrument and has now fulfilled its final repayment obligation in full, covering both principal and accrued interest.

The redemption was funded from internally generated liquidity as part of the Bank’s forward-looking liquidity management strategy. Through a dedicated sinking fund, Fidelity Bank progressively provided for the maturing obligation, enabling the Bank to meet its commitment while maintaining business-as-usual operations and compliance with applicable regulatory liquidity requirements.

Commenting on the development, the Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr/Mrs Nneka Onyeali-Ikpe, said the successful redemption reflected the Bank’s disciplined approach to financial management and its commitment to delivering on its obligations.

“This successful redemption demonstrates the strength of our franchise, the discipline of our balance sheet management and our commitment to honouring our obligations to investors and other stakeholders. We anticipated this maturity from the outset and planned accordingly, which reflects our commitment to responsible financial management,” Onyeali-Ikpe said.

The redemption further strengthens Fidelity Bank’s record in the international debt capital markets. The 2021 issuance marked the Bank’s third Eurobond transaction, following earlier issuances in 2013 and 2017, wherein the Bank raised $300 million and $400 million respectively. The 2021 offer attracted investor orders exceeding US$700 million, reflecting strong demand for the Bank’s international debt offering.

The successful Eurobond redemption follows the completion of Fidelity Bank’s recapitalisation programme ahead of the regulatory deadline. The Bank’s capital-raising efforts increased its eligible regulatory capital to approximately ₦533 billion, exceeding the ₦500 billion minimum capital requirement for banks with international authorisation.

The completion of these milestones underscores Fidelity Bank’s strong capital position, prudent liquidity management and disciplined approach to financial execution. It also reinforces the Bank’s capacity to meet its financial obligations while pursuing its strategic growth objectives across domestic and international markets.