Home Blog Page 831

One Pleads Guilty, As EFCC Arraigns Two Over Illegal Sales Of New Naira Notes

December 17, 2024

By Suleiman Anyalewechi

A Federal High Court sitting in Enugu , has reserved ruling for January 15, 2025 on the bail application and sentencing of two bankers, arraigned by the Economic and Financial Crime Commission EFCC over illegal dealing on new Naira notes .

The anti- graft agency had on November, 15, 2024, arrested the duo of Ekpe Anayaoha Okoronkwo and Umeonuha at their various work places in Enugu for allegedly selling the sum of N500,000 New naira notes in two hundred naira denomination, to one Husseini Ibrahim.

Their arrest were said to have been preceded by credible intelligence associating them with unauthorized dealings on new naira notes within the precincts of Enugu metropolis.

The EFCC, said the offence contravenes section 21, (4) of the Central Bank of Nigeria CBN, Act 2007, and is punishable under section 21(1) of the same Act.

According to a Statement issued on Tuesday December 17, 2024, by its spokesperson ,Dele Oyewale , the EFCC noted that the bankers were subsequently arraigned before Justice Mohammed Garba Umar on a one count charge bordering on the illegal sale of new naira notes.

While Okoronkwo pleaded guilty, during hearing, Onyinye, however, pleaded not guilty of the charge .

Justice Umar, the statement further noted adjourned the matter to January 15, for both the hearing of the bail application filed by Onyinye and the sentencing of Okoronkwo.

“You Represent Nigeria Well,” President Tinubu To CAF Award Winners

Ayodele Oni

December 17, 2024

By Ayodele Oni

President Bola Tinubu is excited by the 2024 CAF Men’s African Footballer Award to Ademola Lookman and CAF Women’s Goalkeeper of the Year Award to Chiamaka Nnadozie announced Monday night by the football governing body.

He has congratulated the two Nigerian stars for making the country proud in the area of sports.

Super Eagles forward Ademola Lookman was crowned the 2024 CAF Men’s African Footballer of the Year and

Super Falcons goalkeeper Chiamaka Nnadozie clinched the CAF Women’s Goalkeeper of the Year award.

The Super Falcons was also named as the Women’s National Team of the Year.

The awards were announced Monday night at the Palais des Congrès in Marrakech, Morocco.

A statement by Bayo Onanuga, special adviser, information and strategy, stated that the President joins millions of Nigerians in celebrating these athletes, describing them as worthy ambassadors for showcasing their talent and bringing honour to the country on the continental and world stage.

“The President believes that this recognition by Africa’s highest football authority will inspire other upcoming athletes to remain steadfast in pursuing their dreams.

“He affirms that their determination, discipline and confidence underscore the administration’s resolve to build a better Nigeria where everyone thrives and succeeds.

‘‘These athletes embody the essential Nigerian Spirit. They signpost the best in us as a nation. Let no one ever write us off. I am incredibly proud of them.

‘‘Thank you for making Nigeria proud and keeping our flag flying.

‘‘Thank you for winning medals for Nigeria both at home and abroad. You will win more in the future,’’ the President said.

NAFDAC Clamps Down On Manufacturers, Distributors Of Counterfeit Items In Aba

Suleiman Anyalewechi

December 17, 2024

By Suleiman Anyalewechi

The National Agency for Food, Drug Administration and Control, NAFDAC has decried the high level of production and distribution of fake and counterfeit items at one of Abia State’s major markets, Eziukwu Road Market Aba.

This is even as the Market authorities have blamed loose regulatory oversights on the part of NAFDAC for the prevailing unfortunate situation.

The Source reports that the market, widely known as the biggest market for the sale and distribution of beverages, and other essential commodities, has over the years equally acquired a notorious image for being a haven for producers and distributors of adulterated items.

Martins Iluyomade, the Director South East region of the regulatory body,vwho is presently leading a team of NAFDAC Operatives on a raid of the market, lamented that despite past efforts at remedying the situation, the market has continued to serve as a centre” for the mass production and sale of fake and substandard products.

He expressed concern that several past crackdowns have so far failed to check the nefarious activities of fake and counterfeit items producers at the market.

The Source reports that NAFDAC had, in December 2023, stormed the market in what was supposed to be a major clampdown on producers of adulterated products.

No fewer than 50 suspected high profile fake products manufacturers and distributors were rounded up in the week long operation.

Similarly, hundreds of shops believed to be housing and selling fake items,were equally sealed .

Before unsealing the entire market which also was closed down through out the raid, a Memorandum of Understanding MoU was signed between NAFDAC and the leadership of the Market .

One major aspect of the MoU was the agreement that the regulatory agency will be visiting the market periodically to ascertain the level of compliance with the non-productions and sale counterfeit items without any prior notice.

But Iluyomade who spoke on the progress of the ongoing raids, regretted that those involved in the illegal activities are not deterred.

According to him, the producers of adulterated products are more concerned about the money they are making than the innocent lives that are being lost through their heinous activities.

The NAFDAC South East Director, said in view of the unwillingness of the fake producers to honour the terms of the MoU reached with the market leadership, it will revisit the agreement.

So far, the Agency on this latest exercise is said to have uncovered several fake items in almost every part of the market.

However, in an interview with this Magazine on Tuesday December ,17, the Chairman of the Market ,Sir Alphonsus Udeigbo, exonerated the leadership of the market from the continued existence of counterfeit products at the market.

“This problem of fake and counterfeit products at the market was one of the biggest issues that confronted the leadership of the market at inception.

“But as God will have it, NAFDAC came last year December and closed the market for some days.

“It made several arrests of those suspected to be dealing on fake products. Some shops where fake items were discovered were sealed.

“Even though, the leadership was not aware of their coming, we were happy that at least, the problem which has brought bad name to the market was about to be tackled.

“So, we happily entered into an MoU, with NAFDAC, before it agreed to reopen the market.

“The most important aspect of the MoU, was the one that allowed NAFDAC to periodically visit the market without any notice to monitor compliance .

“Sadly, it was not up to two days before all those arrested by NAFDAC triumphantly returned to the market. They celebrated, and made so much noise, including boasting that nothing will happen as they are always working with officials of the agency.

“Their shops were reopened ,with none prosecuted by NAFDAC . Aside from that ,they even threatened and still threatening to deal with the leadership of the market, which they accused of inviting NAFDAC .

“They came back almost immediately they were arrested by NAFDAC, celebrating openly inside the market .

“Now, the greatest surprise of all was the fact that despite the agreement that NAFDAC will be visiting the market periodically to monitor development, I regret to inform you that NAFDAC never came ,until this one ( Monday December 16 ) .

That is a whole one year after we entered into that MoU with them. These are facts the NAFDAC people can not dispute.

“The most unfortunate aspect ,is that most of the leaders of the market are being seen as enemies,by those engaged in the business of manufacturing and distribution of fake products, with even our lives being threatened.

So NAFDAC ,can not blame the market leadership for the situation we have found ourselves over this problem of fake products that have cost several lives”, Chief Udeigbo stated .

But ,this time the regulatory agency has warned that it will stop at nothing to ensure that all those found to be involved in the unwholesome act are served justice .

As at the time of reporting, the operation against substandard products at the market was still underway.

Staff Verification Exposes 6,348 Ghost Workers In Jigawa

Ayodele Oni

December 17, 2024

By Ayodele Oni

The ongoing audit of the work force in Jigawa state has unveiled 6,348 ghost workers as at Monday.

This was contained in a report of the Staff Verification Exercise submitted to the state Executive Council on Tuesday.

The state commissioner for information, Mr Sagir Musa, made this known in a statement on Tuesday, as part of the outcome state executive Council meeting.

The commissioner explained that the council approved the establishment of Continuous Capture Centre (CCC) at the Office of the Head of Civil Service, for the completion of the Statewide Staff Audit Biometric Data Capture and Validation Exercise.

This, he said, is part of the Integrated Payroll and Personnel Management System (IPPMS) for the Jigawa State Government.

The project resulted in detection of 6,348 ghost workers and a significantly saves cost with an average of N314,657,342.06 per month and N3,775,888,809.72 per annum.

According to him, the council approved the award of contract for the rehabilitation and maintenance of three roads across the state, to address roads affected by the 2024 rainy season.

The roads includes Andaza – Gadewa – Aujara Road in Kiyawa and Jahun

LGAs at the contract sum of N1, 214,869, 110,00, Unguwar Mani – Korayel -Rorau in Roni and Gwiwa

LGAs, at the contract sum of N2,829,599,036.25K.

Tsamiya – Yalwan Damai – Litinin Tudu in Birnin Kudu LGA, at the contract sum of N199,726, 404.04K.

Musa also disclosed that the Council has approved the release of sum of N254,877,600.00, for the completion of Community-Based integration into the Jigawa State Government Social Register Data Management Information System.

“This is in line with the Namadi administration’s efforts to expand Social Security Coverage to cover communities left out in the Social Register.

“The State Executive Council also approved the full implementation of the recommendations of the Committee for the Retrieval of Farmlands Allocation across the state by 22 MDAs.

“This is in line with the Committee’s implementation roadmap recommended for promoting peaceful co-existence between farmers and herders across the state.”

Edo Assembly Suspends LG Chairmen, Vice For Flouting Governor’s Directive

Ayodele Oni

December 17, 2024

By Ayodele Oni

A last minute attempt by chairmen of Local Governments in Edo State to halt their suspension from office has failed as the State House of Assembly passed a resolution suspending Chairmen and Vice Chairmen of the 18 Local Government Councils of the State for two months.

The House also mandated leaders of the legislative arms to take over leadership of their respective councils.

The decision followed refusal of the Chairmen to submit detailed accounts of their Councils to the Committee on assets verification as directed by Governor Monday Okpebholo.

A Benin High Court, presided over by Justice Efe Ikpomnwonba had restrained the Edo State Government, its privies, servants, agents, assigned or anyone acting for, and whosoever described, on behalf of the Edo State government from giving directives, orders or inferring with, interrupting, obstructing and or disturbing the 18 Local Government Council chairmen from exercising their constitutional duties.

The order however came after the Assembly had passed the motion to suspend the Chairmen and their Deputies for two months.

The suspension of the Council’s Chairmen and deputies was sequel to a motion moved by the member representing Esan North East 1, Mr Isibor Adeh and seconded by the member representing Akoko-Edo two, Mr Donald Okogbe.

The State Governor, Monday Okpebholo, had written a petition to the House over the refusal of the chairmen to submit financial records of their Local Councils to the State Government.

In the letter, the Governor who described their action as an act of insubordination and gross misconduct, requested the House to look into the matter.

When the matter came up for debate, 14 members supported the motion for their suspension, six of them were opposed to the motion, while three members refused to either support or oppose the motion.

The Speaker, Blessing Agbebaku, had earlier told the members that all of them must speak on the matter.

After they had all spoken, the Speaker directed the Clerk of the House, Yahaya Omogbai, to do a head count of the members that supported or opposed the suspension of the Chairmen and their deputies.

The state Government had, during a meeting, presided over by the Deputy Governor, Dennis Idahosa, with the Councils’ Bosses gave them 48 hours to furnish it with their detailed accounts.

Idahosa, who represented Governor Monday Okpebholo, asked the Chairmen to submit the statements to the Assets Verification Committee, through the office of the Secretary to the State Government (SSG), and that the statement of accounts should be effective from 4th of September 2023 till date.

UNIZIK Lecturer Killed For Resisting Snatching Of His Car

Suleiman Anyalewechi

December 17, 2024

By Suleiman Anyalewechi

A University Lecturer, Dr Fabian Osita, has been shot dead for refusing to surrender his car to hoodlums.

The Anambra State Police Command on Tuesday, December 17, 2024, said it has commenced investigations into the gruesome murder of the Lecturer who was of the Nnamdi Azikiwe University. He was killed Monday night by the hoodlums.

This is just as members of Staff of the University are set to march on the Government House in Awka to protest the growing level of insecurity in and around Awka, the Anambra state Capital.

The Source reports that Dr Osita, of the Department of Business Administration, was at about 10.30 pm on Monday, fatally shot by some armed men within Aroma Junction in Awka South Local Council of the State.

According to eye witness accounts, the deceased allegedly resisted attempts to snatch his vehicle, a development that led to the attackers shooting him in the head .

He was said to be on his way home when he was suddenly accosted by the assailants.

“Yes he was shot dead in that high tension area yesterday evening. .Some individuals noted that he was a lecturer at the UNIZIK and hailed from Nteje area of Anambra State.

“The armed assailants blocked his Toyota Corolla and upon resisting their attempts to snatch his vehicle, he was fatally shot in the head resulting in his immediate death.

“The hoodlums abandoned his corpse and made away with his vehicle “, a witness volunteered .

The Anambra State Police Command spokesperson, Tochukwu Ikenga SP, also called on the members of the public to assist with any useful information that could lead to the apprehension of the killers.

While sympathizing with the family of the deceased and the UNIZIK community over the unfortunate incident, Ikenga assured that concerted efforts are underway towards hunting down the perpetrators of the dastardly act .

“The Anambra State Police Command has begun the investigation of the murder of Fabian Osita.

“Information revealed that Osita, a staff of the Nnamdi Azikiwe University Awka, was shot by some unidentified gunmen yesterday ,( 16/12/2024 ) at about 10,10pm at Aroma Junction.

“The murderers also made away with his vehicle, a Toyota Corolla 2006 model. ash coloured with Enugu plate number l.

“To this end, the Command, while condoling his family and friends, especially, the management of Nnamdi Azikiwe University, calls on anyone with useful information that can aid the investigation to come forward.

“The Command also urges members of the public who might have seen the vehicle or any of such to report to the nearest Police station and or call the command control room number 070 39194332 or the PPRO 080 39334002” Ikenga noted .

Meanwhile, incensed by the spate of insecurity in the State, the UNIZIK, community appears set to publicly express their anger.

While confirming the sad incident, Head of the University’s Security Department, Ken Chukwura, informed that the Academic Staff Union of Universities ASUU, is presently mobilizing its members and others to march on the state’s seat of power over the growing rate of insecurity in the State.

The Source further reports that many parts of the State, in the last few months have been under serious siege by armed hoodlums .

Several persons have been killed, with properties worth billions of Naira lost to a plethora of attacks launched by hoodlums in many parts of the State.

Not a few have questioned the effectiveness of the state’s security architecture under Governor Charles Soludo.

Expectedly, the unmitigated security challenges facing the State have formed the fulcrum of the ongoing campaigns for the forthcoming gubernatorial polls by political actors.

Is It Pay Back Time For Adetimehin, Ondo APC Chairman?

Ayodele Oni

December 17, 2024

By Ayodele Oni

Ade Adetimehin is the incumbent chairman of the All Progressive Congress in Ondo state. His tenure is expected to terminate early next year.

But recent happenings within the ruling part in Ondo state signifies that things are no longer at ease especially with the chairman.

Adetimehin, is a lucky man. God has given him the knowledge and wisdom to pilot affairs of the APC in Ondo state with the enthronement of two governors, first, late Oluwarotimi Akeredolu and now Lucky Aiyedatiwa, that won the last November Governorship election, not minding the fact that his local government of origin remains one of the strongest bases for the opposition People’s Democratic Party (PDP) in the state.

Adetimehin, no doubt had been pampered by the two governors he worked with. Late Akeredolu put him at same salary level with commissioner’s while in the saddle. When time to pick candidates for various elective positions come, be enjoys an unfettered freedom to pick whomsoever he chooses.

Even when the rumour was ripe that Aiyedatiwa would remove him following his inauguration as substantive governor last year, he passed over the deed.

In all areas, it can be said that his tenure has been smooth, even with the members of the state House of Assembly. What has happened since after the November Governorship election that could now warrant calls for his removal?

Is it true that Governor Aiyedatiwa just tried as much as possible to tolerate him till after his election? What what his roles in picking chairmanship and counselorship candidates for the local government election slated for next year in Ondo?

Some youths of the APC started the onslaught against Adetimehin when they invaded the party Secretariat and laced the entrance with some fettish objects including coffin demanding that time is up for Adetimehin.

Pioneer State Youth leader of the APC, Babalayo Olutayo, who was at the scene of the incident said that Adetimehin must leave office over various alleged offences.

According to him; “I woke up this morning to learnt that some aggrieved youths across the state went to the Secretariat to seal-off the place with a lot of fetish objects, the place was barricaded, locked with chain and I went there to confirm the incident and I found out that what people said to us was actually the fact.

“What led to the incident was due to some allegations leveled against the incumbent chairman, Ade Adetimehin that he was calling for military takeover and we are yet to know the reasons why he was calling for this.

“Not only that we know that his tenure will come to an end by next year, and if at all he want to leave, we believe that he should leave the party better than where he met it not that he has to destroy the foundation of the party because he is leaving.

“Also, another allegations leveled against him was how he doctored the list of the just concluded governorship election and incoming local government election which we felt that this is not right.

“We believe that as a chairman, if you cannot better the democracy you should leave. You cannot continue to mortgage the life of the people because of your own personal interest. And of course people in the party are accusing him of high handedness, no accountability, and he is not honest.

“So for me, if people are clamoring for his removal or not, the truth is that he has spent his term so he should leave the party peacefully and honourably. He doesn’t need it to be chased out.

“He is the only one running the affairs of the party, no youth leader, no women leader, there is no party’s secretary, no state legal adviser.”

As if this was not enough, Adetimehin’s ward at Idanre local government same day announced his suspension citing his unguarded utterances as one of the reasons. His letter of suspension was signed by all executive members at the ward.

The ward leadership, in an undated letter, accused the embattled chairman of alleged gross misconduct. Adetimehin, whose tenure will expire next year, was accused of spearheading campaign for the return of military rule in the country.

In a resolution reached during an emergency meeting, the ward executives stated that Adetimehin’s comments were capable of inciting anarchy within the party. The executives concluded that the suspension would remain in effect pending the outcome of an investigation into the allegations.

The statement, signed by key party executives, emphasized the need for maintaining party discipline and order. The executives reiterated their commitment to upholding party unity and ensuring accountability among its leaders.

Reacting to the suspension, the state chapter of APC in a statement by director of publicity, Steve Otaloro, said the action of the ward executive is illegal.

“Under our party’s constitution, any suspension must follow a clearly defined procedure that includes providing the member with a detailed account of the allegations against them and an opportunity to defend themselves before a designated committee.

“Furthermore, a warning letter is typically issued prior to any suspension being considered. It is evident that these essential processes were not followed in this instance, rendering the call for suspension invalid.

“The decision made by the Ofosu ward Exco of Idanre Local Government is inconsistent with the provisions of our party’s constitution and is, therefore, null and void. The reasons cited for this suspension lack substance and detail, suggesting that the actions taken may stem from personal grievances rather than legitimate concerns about leadership.

“We want to reiterate that Engr. Ade Adetimehin’s remains the rightful chairman of the APC in Ondo State. His leadership is crucial as we prepare for the upcoming local government elections, where we are committed to achieving victory for our party. We will not allow distractions from individuals with ulterior motives to deter us from our goals.

“We urge our loyal party members in Idanre LG to refrain from any retaliatory actions against the members of the Ofosu Exco involved in this illegitimate suspension. Rest assured, those responsible for this breach of protocol will face appropriate consequences at the right time. For now, our priority is to focus on campaigning and ensuring a successful LG election.”

However the silence of Governor Aiyedatiwa on the ongoings especially the ongoing war against Adetimehin has brought suspicion, with claim that he has a hand in it.

Adetimehin has been alleged to have compromised his position during the impeachment saga of Aiyedatiwa while serving as deputy to late Akeredolu. He was reported to be neither here nor there while the governor was going through hell in the hands of the State House of Assembly. It remains just an allegation.

With Aiyedatiwa’s victory at November election, it is said that time has come for him to take a pound of flesh from his perceived tormentors. But the Chief Press Secretary to the governor, Ebenezer Adeniyan told The Source that his boss has no hand in the matter. “He is not sir. He has nothing to do with it.”

There have been calls from APC stakeholders in the state to allow Adetimehin complete his tenure since he will exit early next year. One of them Aderosoye Fadola from Ifedore local government condemned the purported suspension of the APC State Chairman, Engr. Ade Adetimehin, and the placement of fetish objects at the party secretariat, calling it a desperate, narcissistic move that runs counter to democratic principles.

He commended the Ofosun Ward Chairman for his swift and decisive response in debunking the fake suspension, thereby nipping the unnecessary intrigues in the bud.

He described Engr. Adetimehin as a doyen, an adroit human resource manager, and an astute politician. According to Aderosoye, “Adetimehin’s unassuming, simplistic, and altruistic disposition has caused political unease in the camp of detractors. He is, arguably, one of the most celebrated State Chairmen of the APC in Nigeria and has never been found wanting.”

Another APC stalwart from Idanre, Adebusuyi Idowu, a former lawmaker, condemned the attacks saying Adetimehin has not committed any offence to warrant such act against the party, adding that the APC chairman remains a strong and popular political figure in Ondo State. At the end of the day, Adetimehin will have to carry his cross.

Varsity Don Laments Nigeria’s Suicide Rate, Sixth Globally; Bad Economy As Contributor

James Orji

December 17, 2024

A Professor of Psychiatrist, Adesanmi Akinsulore has lamented the high rate of suicide in the country. The University don who teaches at the Obafemi Awolowo University, OAU, said Nigeria ranks sixth in the in global suicide figures.

The university don and consultant made this known on Monday at a lecture organised by The Still Waters Mental Health Foundation, held at Ladoke Akintola University of Technology Ogbomoso, Oyo State, noting that suicide which is a leading cause of death globally, among teenagers and youths between 15 and 29, is a serious problem that needed to be dealt with immediately.

The event, themed, “Navigating the Storm: Unraveling the Intricacies of Suicides Amongst Students was organised to provide lasting solutions to suicide problems among students, the organisers said.

Prof Akinsulore while calling for concerted efforst to tackle the menace, stated that Nigerian men were more prone to taking their own lives, as the suicide rates among them account for 79 percent of suicides, adding that women are mostly prone to nursing suicide thoughts.

He cited factor such as school-related challenges, difficulties in accessing psychological care, stigma associated with seeking help, discrimination due to disabilities or physical differences, academic failure, and a lack of supportive school environments, amonsgt others as reasons while people commit suicide.

Other risk factors, the psychiatrist said include, drug abuse, depression, anxiety, previous suicide attempts, self-injury, loneliness, isolation, and chronic illnesses.

He mentioned ways to mitigate the problem in the society to include, family and parental support, mentorship and authority’s support for students with suicide risks, describing the problem as a societal one that must be tackled through “collective responsibility.”

He noted, “Navigating the storm is a collective responsibility. We must work together to create a supportive and inclusive environment that promotes student well-being and resilience,” he said.

According to the National Library of Science, Nigeria’s suicide rate of 17.3 per 100,000 stands above the global 10.5 per 100,000 and that of Africa’s 12.0 per 100,000 estimates

It said the figure may even be higher than the estimated if there were to be proper reporting, documentation, and statistics, adding that suicide in Nigeria is often not well reported and documented because of fear of stigmatization, cultural and religious sentiments, and the criminalization of suicide by the Nigerian constitution.

Meanwhile, mental health experts insist that the current economic hardship and sufferings in the country are key areas the government should consider as key factors leading to suicide, considering the number of persons who have taken their own lives because of the struggle to make ends meet.

“Dozens of Nigerians have taken their own lives, in the past eight years, due to the serious economic hardship in the country. Many people think that the next thing to do when things are hard is to comit suicide, to avoid shame from the family and public,” said John Folami, a psychiatrist.

Safer Lagos: UBA Donates N500m To State Security Trust Fund

James Orji

December 17, 2024

United Bank for Africa, UBA, through UBA Foundation, its corporate social responsibility arm, has donated the sum of N500 million to the Lagos State Security Trust Fund, SSTF, as part of its continued commitment to secure the environment for individuals and businesses

The N500m cheque was presented to the Lagos State Governor, Babajide Sanwo-Olu, by the UBA Group Chairman, Tony Elumelu, who was accompanied by the bank’s Deputy Managing Director, Muyiwa Akinyemi, at the State House, Marina, Lagos on Sunday.

Speaking during the presentation, Elumelu reiterated the bank’s dedication to supporting initiatives that ensure the safety and prosperity of communities across Nigeria adding that “At UBA, we understand that security is critical for economic growth and societal well-being. Our donation to the Lagos State Security Trust Fund is a reflection of the bank’s belief in building safer communities to enhance the quality of life for all. We are proud to partner with the Lagos State Government to achieve this shared vision of a secure environment conducive to investment and development.”

While receiving the N500m cheque, the Lagos State Governor expressed appreciation to the UBA Group and UBA Foundation for the significant contribution and commended Mr. Tony Elumelu for its unwavering commitment to impactful projects, state’s progress and well-being.

He said, “we are grateful to the UBA Group for their significant contribution to the Lagos State Security Trust Fund. This donation will strengthen our efforts to enhance security and protect our citizens. Together we are building a safer Lagos for all”

This latest gesture aligns with UBA Foundation’s Special Projects initiative, which focuses on addressing pressing societal issues through strategic partnerships and impactful interventions. Over the years, UBA Foundation has actively contributed to enhancing education, the environment, and economic empowerment and special projects such as these critical donations across Africa. The Foundation’s commitment to security as a driver of sustainable development is evident in its support for programs like the LSSTF.

Group Chairman, United Bank for Africa(UBA), emphasised the bank’s role as a leader in giving back to society. He explained that in pledging its support to the state’s efforts at improving security, UBA recognizes the vital link between safety and economic stability.

He said, “This partnership with the Lagos State Government reinforces the Bank’s belief in collaborative efforts as the key to addressing security challenges and creating environments where individuals and businesses can thrive. We believe that a secure Lagos State is integral to a secure Nigeria. UBA Foundation will continue to support transformative initiatives that uplift lives and drive development.”

UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, the Environment, Economic Empowerment and other Special Projects.

2025 Budget: Nigeria To Borrow N13trn – Minister

James Orji

December 17, 2024

The federal government has projected to borrow over N13 trillion to finance the 2025 Budget of N48 trillion naira.

The News Agency of Nigeria, NAN reports that the 2025 financial estimate is more than 30 percent higher than the 2024 Budget, taking the deficit to close to four percent of the nation’s Gross Domestic Product, GDP.

Wale Edun, the Minister of Finance and Coordinating Minister of the Economy made this known on Monday while speaking to state House correspondents after the Federal Executive Council, FEC, meeting in Abuja, the nation’s capital.

The FEC, the last for the year was chaired by President Bola Ahmed Tinubu, who is expected to present the 2025 financial estimate to the National Assembly on Wednesday, December 18.

The Budget presentation was earlier scheduled for Tuesday December 17 by the president before it was shifted by the Presidency.

According to Edun, it’s not out of place for Nigeria to borrow to finance the budget, saying this is what obtains in developing countries, adding that the administration target is to provide good governance for the citizens in the areas of providing key infrastructure and other social services.

Edun said it’s a global best practice to borrow to fiance budget. “And even looking at it from an international context, we, like governments around the world, are concerned about how to achieve fiscal sustainability, revenue to expenditure and borrowing that is balanced, to create an environment in which the economy can grow,” he said.

“Private sector-led economies such as ours and others, rely on investors to put down their money in various projects, increase productivity, create jobs, grow the economy and in the case of countries such as ours, bring the people out of poverty.”.

The Minister of State for Agriculture, Sabi Abdullahi, had earlier disclosed why the Budget presentation was shifted by President Tinubu.

Abdullahi said, “The budget presentation has been postponed from Tuesday to Wednesday.

“The executive just needs to make one or two adjustments to the budget.”

1...830831832...2,961 Page 831 of 2,961