Fresh Charges Filed Against 4 Bloggers Over Cyber Stalking GTCO; Case Adjourned

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October 14, 2024

Justice Ayokunle Faji of the Federal High Court, Ikoyi, Lagos, today adjourned hearing in a fresh 10 count charge against four bloggers: PRECIOUS EZE ‘M’ 38, OLAWALE ROTIMI ‘M’ 46, ROWLAND OLONISHUWA ‘M’ 43, and SEUN ODUNLAMI ‘M,’ 37 who were arraigned for the offences of Cyber Stalking against Guaranty Trust Holding Company, its Management and the Central Bank of Nigeria, CBN.

The order of the presiding Judge was sequel to plea of not guilty by the four defendants to the 10 count charge of conspiracy to commit felony to wit: Cyber Stalking, Conspiracy to defraud and Extortion by threats preferred against them.

They will continue to be reminded in Ikoyi Correctional Service pending the time their bail application will be determined.

When the case was called, the prosecuting counsel, through the fiat of the Inspector General of Police, High Chief Ajibola Aribisala, a Senior Advocate of Nigeria, SAN, leading Olaotan Ajose Adeogun, SAN, Barrister Adebayo Olaleye and six other lawyers, urged the court to strike out the former four count charge filed before the court as new charge of ten counts has been filed.

Consequently, Justice Faji struck out the old charge and ordered that the new charge should be read to the defendants for their plea to be taken.

However, the defence counsel, Olakunle Abiodun Abiola, told the court that he was objecting to the charge being read on the ground that he needed time to go through the fresh new charge.

He also gave a condition that if the defendants were arraigned on the fresh charge he would apply for their bail orally. But the judge said he would not allow oral bail application.

Consequently, Afolabi withdrew the objection. The Judge thereafter struck out the old charge and the new charges read to the defendants. They all pleaded not guilty to the 10 count charge.

The ten count Charge as filed before the court by Chief Ajibola Aribisala, SAN.

COUNT 1:

That you, Precious Eze ‘M’, Olawale Rotimi ‘M’, Rowland Olonishuwa ‘M’, Seun Odunlami ‘M’, and others now at large, sometimes in August, 2024, in Lagos and within the jurisdiction of the Lagos Judicial Division of the Federal High Court, did conspire amongst yourselves to commit a felony to wit: Cyber Stalking by conspiring and attempting to publish false, misleading and unsubstantiated allegations which you all know to be false, through various social media outlets against Guaranty Trust Holding Company (GTCO),its Management, the Central Bank of Nigeria and the entire Banking system in Nigeria with the intention to cause a breakdown of law and order in the Nigerian Banking system and thereby committed an offence punishable under Section 27 (1) (a) and (b) of the Cybercrimes (Prohibition, Prevention, Etc.) Act, 2015 (as amended)

COUNT 2:

That you, Precious Eze ‘M’, Olawale Rotimi ‘M’, Rowland Olonishuwa ‘M’, Seun Odunlami ‘M’, and others now at large, sometimes in August, 2024, in Lagos and within the jurisdiction of the Lagos Judicial Division of the Federal High Court, did commit a felony to wit: Cyber Stalking by publishing false, misleading and unsubstantiated allegations which you all know to be false, through various social media outlets against Guaranty Trust Holding Company (GTCO), its Management, the Central Bank of Nigeria and the entire Banking system in Nigeria with the intention to cause a breakdown of law and order in the Nigerian banking system and thereby committed an Offence punishable under section 24 (1)(b) of the Cybercrimes (Prohibition, Prevention, Etc.) Act, 2015 (as amended)

COUNT 3:

That you, Precious Eze ‘M’ Olawale Rotimi ‘M’, Rowland Olonishuwa ‘M’ Seun Odunlami ‘M’, and others now at large, sometimes in August 2024, in Lagos and within the jurisdiction of the Lagos Judicial Division of the Federal High Court, did conspire amongst yourselves to commit a felony to wit: Cyber Stalking by conspiring and attempting to publish unsubstantiated allegations through various social media outlets against Guaranty Trust Holding Company (GTCO),its Management, the Central Bank of Nigeria and the entire Banking system in Nigeria with the intention to use the allegations to cause harm to the reputation of Guaranty Trust Holding Company (GTCO), its Management, the Central Bank of Nigeria and the entire Banking system in Nigeria and thereby committed an offence punishable under Section 27 (1) (a) and (b) of the Cybercrimes (Prohibition, Prevention, Etc.) Act, 2015 (as amended).

COUNT 4:

That you, Precious Eze ‘M’, Olawale Rotimi ‘M’, Rowland Olonishuwa ‘M’, Seun Odunlami ‘M’, and others now at large, sometimes in August,2024,in Lagos and within the jurisdiction of the Lagos Judicial Division of the Federal High Court, did commit a felony to wit: Cyber Stalking by publishing false misleading and unsubstantiated allegations through various social media outlets against Guaranty Trust Holding Company (GTCO), its Management, the Central Bank of Nigeria and the entire Banking system in Nigeria and using the allegations to cause harm to the reputation of Guaranty Trust Holding Company (GTCO),its Management, the Central Bank of Nigeria and the entire Banking system in Nigeria and thereby committed an offence punishable under Section 24 (2) (c) (ii) of the Cybercrimes (Prohibition, Prevention, Etc.) Act, 2015 (as amended).

COUNT 5:

That you, Precious Eze ‘M’, Olawale Rotimi ‘M’, Rowland Olonishuwa ‘M’, Seun Odunlami ‘M’, and others now at large, sometimes in August within the jurisdiction of the Lagos Judicial Division of the Federal High court, did conspired amongst yourselves to wit : Cyber Stalking by conspiring and attempting to publish false, misleading and Guaranty Trust Holding Company (GTCO), its Management, the Central Bank of Nigeria and the entire Banking system in Nigeria with to use the allegations the intention to use the allegations to extort Guaranty Trust Holding Company (GTCO)Section and its Management and thereby committed an Offence punishable under section 27 (1) (a) and (b) of the Cybercrimes (Prohibition, Prevention, Etc.) Act 2015 (as amended).

COUNT 6:

That you, Precious Eze ‘M’, Olawale Rotimi ‘M’, Rowland Olonishuwa ‘M’, Seun Odunlami ‘M’, and others now at large, sometimes in August, 2024, in Lagos and within the jurisdiction of the Lagos Judicial Division of the Federal High Court, did commit a felony to wit: Cyber Stalking by publishing false, misleading and unsubstantiated allegations through various social media outlets against Guaranty Trust Holding Company (GTCO), its Management, the Central Bank of Nigeria and the entire Banking system in Nigeria and using the allegations to extort Guaranty Trust Holding Company (GTCO) its Management and thereby committed an offence punishable under Section 24 (2) (c) (ii) of the Cybercrimes (Prohibition, Prevention, Etc.) Act,2015 (as amended).

COUNT 7:

That you, Precious Eze ‘M’, Olawale Rotimi ‘M’, Rowland Olonishuwa ‘M’, Seun Odunlami ‘M’, and others now at large, sometimes in August, 2024, in Lagos and within the jurisdiction of the Lagos Judicial Division of the Federal High Court, did conspire amongst yourselves to commit a felony to wit: Conspiracy to Defraud by concocting false, misleading and unsubstantiated allegations through various social media outlets against Guaranty Trust Holding Company (GTCO), its Management, the Central Bank of Nigeria and the entire Banking system in Nigeria with the intention to use the allegations to affect the market value of the shares of Guaranty Trust Holding Company (GTCO) by causing them to lose value considerably and thereby committed an offence punishable under Section 422 of the Criminal Code Act, Cap. C 38, Laws of the Federation of Nigeria, 2004 (as amended).

COUNT 8:

That you Precious Eze ‘M’, Olawale Rotimi ‘M, Rowland Olonishuwa ‘M’, ‘Seun Odunlami ‘M’, and others now at large, sometimes in August, 2024, in Lagos within the jurisdiction of the Lagos Judicial Division of the Federal High Court, did conspire amongst yourselves to commit a felony to wit: Conspiracy to defraud by concocting false, misleading and unsubstantiated allegations through various social media outlets against Guaranty Trust Holding Company (GTCO), its Management, the Central Bank of Nigeria and with the intention and using the allegations to extort Guaranty Trust Holding Company and its Management and thereby committed an offence punishable under Section 422 of the Criminal Code Act, Cap. C 38,Laws of the Federation of Nigeria, 2004 (as amended).

COUNT 9:

That you, Precious Eze ‘M’, Olawale Rotimi ‘M’, Rowland Olonishuwa ‘M’, Seun Odunlami ‘M’, and others now at large, sometimes in August, 2024, in Lagos and within the jurisdiction of the Lagos Judicial Division of the Federal High Court, did conspire amongst yourselves to commit a felony to wit: Extortion by threats by conspiring to concoct false, misleading and unsubstantiated allegations through various social media outlets against Guaranty Trust Holding Company (GTCO), its Management, the Central Bank of Nigeria and the entire Banking system in Nigeria with the intention and using the allegations to threaten and to extort Guaranty Trust Holding Company (GTCO) and its Management and thereby committed an offence punishable under Section 507 of the Criminal Code Act, Cap. C 38, Laws of the Federation of Nigeria, 2004 (as amended).

COUNT 10:

That you, Precious Eze ‘M’, Olawale Rotimi “M’, Rowland Olonishuwa ‘M’, Seun Odunlami ‘M’, and others now at large, sometimes in August 2024, in Lagos and within the jurisdiction of the Lagos Judicial Division of the Federal High Court, did commit a felony to wit: Extortion by threats by concocting false, misleading and unsubstantiated allegations through various social media outlets against Guaranty Trust Holding Company (GTCO), its Management, the Central Bank of Nigeria and the entire Banking system in Nigeria and using the allegations to threaten and to extort Guaranty Trust Holding Company (GTCO) and its Management and thereby committed an offence punishable under Section 408 of the Criminal Code Act, Cap. C 38, Laws of the Federation of Nigeria, 2004 (as amended).

By the new dates, the prosecution is expected to have filed its proof of evidence while the defendants’ counsel will file an application for their bail

Abure Fights Back, Dissolves Obi, Otti, Backed Abia LP Leadership

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Suleiman Anyalewechi

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October 14, 2024

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By Suleiman Anyalewechi

The Julius Abure-led National Working Committee, NWC, faction of the Labour Party has announced the dissolution of the Abia State Interim Leadership Committee SWC.

The sack of the Abia SWC was contained in a letter addressed to the Independent National Electoral Commission, INEC, by the Abure-led faction,dated Monday October 14, 2024 .

The letter which was jointly signed by Abure and the factional National Secretary, Umar Farouk Ibrahim, also appointed a-15 member Caretaker Committee headed by Dr G. O. Ndubueze to run the affairs of the Party.

They informed that the appointment of the Interim Committee for the only State which the party controls takes immediate effect.

According to the Abure-led NWC, the newly appointed Caretaker Committee will be in place for three months within which period a substantive leadership will be enthroned.

“In exercise of the power bestowed upon by the Labour Party Constitution ,Article 13 ,3,B ,vi, to dissolve and reconstitute State Executive Council/State Working Committee where necessary, pending the next state Congress,

the National Working Committee hereby dissolves and appoints a Caretaker Committee to pilot the affairs of the party in Abia state” part of the letter reads.

The Source reports that the party had, on September 4, 2024, been thrown into an open leadership crisis, following the supplanting of the Abure-led NWC with the Esther Nenadi Usman led 29 member interim National Committee.

The Party had before then been sharply divided, following its Nnewi National Convention in March this year.

The hotly disputed and widely boycotted Convention threw up a second tenure leadership for the Abure-led NWC.

The Convention was, however, shunned by a majority of the Party’s major stakeholders, including Peter Obi, its 2023 Presidential Candidate, his running mate Yusuf Datti-Ahmed, Dr Alex Otti, the only Governor elected on its platform, the National Assembly caucus of the party ,and others.

They unanimously and overwhelmingly, accused the Abure leadership of not carrying them along in the countdown to the Convention.

The pre-Convention disagreement was to snowball into a full blown crisis ,with many of the aggrieved members including Obi, shunning all LP activities.

The situation was, however, exacerbated by the refusal of INEC to do business with the Abure led NWC. The electoral umpire had insisted that, the tenure of the Abure”s NWC had elapsed in June this year .

Faced with mounting threats of the party relapsing into a moribund State, major stakeholders led by Obi and Governor Otti had to convene the September 4, Umuahia enlarged National Executive Council meeting.

But the appointment of the Nenadi Usman led Interim, National leadership has been been rejected ,by Abure, who has insisted on the sanctity of the mandate given to his leadership in Nnewi.

Only last Wednesday October, 9, 2024, an Abuja Federal High Court validated the election of the Abure leadership in Nnewi ,declaring it the authentic NWC .

However, the Conveners of the Umuahia enlarged stakeholders meeting has gone on appeal to challenge the trial court ruling,a development which Abure group has described as null and void .

In an interview with the Punch on Sunday October 13, factional Spokesperson, Obiora Ifoh ,maintained that the Nenadi Usman leadership is unknown to extant laws and as such lacks the locus standi to mount any legal challenge of both the Nnewi Convention and the Abuja Court verdict affirming the Abure led NWC as the authentic leadership of the party.

Sounding boastful, Ifoh noted that the party is not in anyway perturbed by the move to challenge the Abuja court ruling.

He further informed that all the Principal actors in the Umuahia enlarged NEC meeting including Obi ,Governor Otti, are not parties in the suit.

“It would be unfortunate if they toe that line (appeal) because you can not appeal a judgment that you are not a party to .

“The Caretaker Committee is not a body known to the Labour party Constitution .It is not a body known to the electoral law or the Constitution of the Nigeria .So they do not even have a locus ” the factional spokesman stated.

“But before the Abuja High Court verdict, the two factions ,had engaged in a battle of wits in Abia state over the November 2, scheduled local council polls.

“The subject of struggle was between the Abure and Usman NWC, which has the right to submit names of candidates of the party for the election.

“The Abure group had last week ,submitted a conflicting list to the Abia State Independent Electoral Commission ABSIEC ,a development which prompted the Usman leadership to put up a disclaimer.

The Emma Otti led Abia LP Caretaker Committee, had in a letter cautioned the ABSIEC and the general public about any dealing with the Abure group led by its National Vice Chairman South East Ceekay Igara .

Hon Igara, until the disputed Nnewi Convention was the Chairman of LP in the State even before the 2023 general election.

The two groups had, also, printed and sold expression of interest and nomination forms simultaneously.

In an interview with this Magazine last Friday October, 11, Engr Darlington Enyinnaya the State Organizing Secretary of the group loyal to the Usman leadership dismissed the prospect of the party being negatively affected in the forthcoming Local election by the present crisis.

As at the time of reporting, the Usman-led NWC was yet to react to the purported dissolution of the State interim leadership.

Obi: Education Is World’s Most Potent Currency, Donates N70 Million to Institutions

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The Source

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October 14, 2024

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Former Governor of Anambra State, Mr. Peter Obi, has urged students of Shanahan University, Onitsha, to prioritise their studies, emphasising that education remains the most valuable global currency for competition. Obi made this statement today during the inaugural Mass for the official opening of the University.

In his remarks, Obi highlighted that both the Catholic and Anglican Churches have established some of the best educational institutions in the world. He explained his decision to support humanity through the Church, confident that they make judicious use of resources. He also called on the institutions to continue admitting students without regard to denomination, tribe, or nationality. “Like Gandhi, I encourage the brotherhood of all men,” Obi said while revealing that the next port of call will be the College of Nursing at Ayigba, in kogi State, University on the Niger and the School of Midwifery at Iyienu.

While visiting the School of Midwifery at Waterside and the School of Nursing Sciences at Borromeo Hospital, Onitsha, Obi reminded the students that from humble beginnings, they are destined for greatness. He assured them that they have chosen the right path, noting that studies predict a shortage of over 20 million healthcare practitioners in the coming years.

Obi, who recently pledged N120 million to the Sisters of the Holy Rosary for their educational and health apostolate, donated an additional N70 million yesterday to the Diocese of Onitsha to support their educational and healthcare missions. Of this amount, N50 million was allocated to Shanahan University, N10 million to the School of Midwifery, Waterside, and N10 million to the School of Nursing Sciences at Borromeo Hospital.

During the Mass, the Archbishop, who oversees these institutions, expressed gratitude to God for His continued blessings.

Speaking at the event, Rev. Fr. Prof. Josephat Obi Oguejiofor, Vice Chancellor of Shanahan University, thanked the Archbishop for his tireless efforts in establishing the university. He also commended those who contributed to its development and lauded Mr. Peter Obi for standing out among politicians. Fr. Oguejiofor assured that Shanahan University would soon become one of the greatest institutions in Nigeria.

“At present, we are constructing a 1,500-seater auditorium,” he announced. “I am also pleased to inform you that the Archbishop has granted a 50% scholarship on tuition fees for all students. I encourage all parishes to sponsor at least one underprivileged student as part of the Church’s mission to care for the poor.”

At both Waterside and Borromeo, the Chancellor of the Archdiocese, Fr. Basil Ekwunife, recalled Obi’s past contributions to the rebuilding of these institutions and thanked him for his continued support, even after leaving office.

Obi was accompanied to all the places by Prof. Chinyere Okunna and Prof. Patrick Obi.

NIDCOM Boss, Dabiri-Erewa, Condemn Libya’s Ill Treatment Of Super Eagles By Libyan Authorities

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Akinwale Kasali

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October 14, 2024

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By Akinwale Kasali

The ill treatment meted out on the Super Eagles of Nigeria by the Libyan Authorities less than 36 hours to the 2025 African Cup of Nations Qualifiers, has been condemned by Hon. Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission, NIDCOM.

The Super Eagles had travelled on Sunday to honour the AFCON match against the Mediterrenian Knights, but their flight waa diverted, mid-flight to an innocuous airport far away from the venue of the match.

Dabiri-Erewa noted that travelling by road in Libya is most dangerous and totally not advisable because of the current situation in the country.

The implication of the diversion will now be another three hours of road travel to the main venue of the match, not minding the risk of road travel in Libya, considering the situation of the war-torn country.

She said the safety of Nigerian players is paramount to the country, and was optimistic that the Ministry of Sports and the NFF will advice appropriately.

She also called on CAF to treat the matter with the seriousness it deserves.

The players, flight crew members and others on board the flight are stranded and have been subjected to inhuman treatment at the airport for over 13 hours without water, food, rest and other means of communication.

This inhuman treatment has prompted the NFF to withdraw from the match and petitioned the Confederation of African Football, CAF, on the attitude of the Libyan Authorities.

“The team were delayed at an airport in Libya for more than 13 hours without any tangible reason.

“The Super Eagles flight was redirected air borne on Sunday and they were required to travel by road to their destination.

“However, there was no provision made for them by the Libya authorities and all efforts to make alternative provisions by Nigeria Football Federation, NFF, was frustrated.”

Dabiri-Erewa appealed to the Super Eagles to remain calm while the Nigerian Football Federation will decide the next line of action.

2025 AFCON: Super Eagles Withdraw From Libya Match Following Ill Treatment By Libyan FA

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Akinwale Kasali

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October 14, 2024

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By Akinwale Kasali

Nigeria Football Federation, NFF, has announced the withdrawal of the Super Eagles from the 2025 AFCON qualifier against the Mediterranean Knights of Libya due to the very cruel inexplicable treatment given to the Nigerian Senior Team.

Libyan FA put the team through a 12-hour ordeal at the Al Abraq Airport in Libya.

The team’s flight was unexpectedly diverted mid-flight to the smaller airport, leaving players and officials stranded without support from the Libyan Football Federation.

Adding to the frustration, the Libyan Football Federation failed to meet the Nigerian team upon their arrival, offering neither a reception committee nor transportation to their Benghazi hotel, located three hours away.

With no transport to their hotel in Benghazi, and after hours of waiting, the fatigued players decided not to play.

“The Nigerian delegation for Tuesday’s 2025 AFCON qualifier against Libya is still at Al Abraq Airport, 12 hours after landing. The chartered ValueJet aircraft was, strangely and in a dangerous manner, diverted to the small airport just as the pilot was completing his approach to Benghazi Airport,” the NFF said in a statement.

The NFF is now arranging their return to Nigeria.

“Fubara Weak, Can’t Take Charge, May Face Disciplinary Action, Bauchi Gov Too” – PDP

By

Adesina Soyooye

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October 14, 2024

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By Adesina Soyooye

“In Fubara, the more you look, the less you see. He is incapable of rallying his colleague-Governors. He is incapable of rallying members of the NWC.”

The Peoples Democratic Party has said that Rivers State Governor, Siminalayi Fubara, is incapable of being in charge.

The Party, also, accused Fubara of being the architect of his problems. The PDP said it was Fubara who, willingly, relinquished his rights to his predecessor, now Minister of the Federal Capital Territory, FCT, Nyesom Wike.

The PDP also accuses the Governor of indulging in anti-party activities by supporting and sponsoring the candidates of the Action Peoples Party, APP, in the October Local Government Election. The APP, a hitherto unknown party in the State won 22 of the Local Government Areas in the State.

And, for daring to attend the swearing-in of the victorious APP Chairman in solidarity with Fubara, Bauchi State Governor, Bala Mohammed, who is, also, Chairman of the PDP Governors Forum, will also face disciplinary action.

Speaking to Tribune Online on Sunday, the factional Acting National Publicity Secretary of the Party, Ibrahim Abdulahi, said the Party from the beginning, gave Fubara the opportunity to take charge of the Party structures in the State, but that he always rejected and referred the Party to the FCT Minister, Wike.

For instance, he said, when the Party asked him to nominate the replacement for the State Chairman of the PDP, he refused to do so, and asked them to go to Wike to nominate. He said Fubara said he would be comfortable with anybody Wike nominated.

He disclosed that because Fubara, unlike other State Governors, refused to take charge, the Party didn’t know what else to do with him. He incapable of taking charge,

Abdulahi: “It’s a very, very long story that we will not be able to make sense of now. The kind of opportunity given to Fubara by this party is the sort that you never imagine exist from any political party to any of its members, not a governor, not a president.

“It is the sort that you would not believe any member will enjoy, any person no matter his status, whether in former president, because if I start now talking, I’ll dig out what we have been keeping in the cooler, the opportunities, the chances, the repeated chances given to this governor for him to take the leadership and take control of the structure.

“He was the first person that came to meet this NWC when they requested for the replacement of the state’s chairman of the PDP. He said ‘no no no no, nobody should call him that they should call oga in Abuja, let oga give the person, anyone oga gives he is comfortable.’

“This was the beginning of the whole of this problem. He was the one who said he cannot take decisions when Nyesom Wike is still alive. That was before the relationship went sour. So, at what point did you now stop recognizing him as your boss, that you start taking all of those decisions?

“See, why we don’t need to delve too much into the back and forth of a River State, what is important is that at the point that we have reached now, the summary of it all is that a governor with a state like Rivers, it was the same state Wike occupied that he was able to give PDP the required opposition it confronted the Buhari-led federal government for eight years.

“Fubara is sitting on that same saddle now and yet, cannot be able to rally his colleagues, governors behind him. He cannot be able to hold the National Working Committee to identify with him just because his predecessor is a Minister in Abuja.

“All of us, we thought he was worthy of the attention, but the more you look the less you understand. You can’t be crying like a baby all the time. You cannot provide leadership, fight it out.

“Do you think all the governors are comfortable? Why are they in charge of their respective state except him? Something is missing about this guy. So, please, at the risk of sounding immodest, we have done the best we can do for Fubara.

“We are not supporting Wike. I have been critical of Wike, you know. Even recently, I have said that nobody can hold PDP to ransom. We are not under anybody’s pocket. It’s on record. So, I’ve said all these sort of things I would say. If I was taking a naira from Wike, I couldn’t have gone on air to say all of these things.”

And for sponsoring APP Candidates for the LGA Election, Abdulahi said Fubara is guilty of anti-party activities and may face disciplinary action.

His words: “That is a clear anti-party on the part of the Governor and we will wait for him with that himself. The Governor that went to identify with him during the inauguration of the elected officials himself, the Chairman of the Governors Forum will be accused of anti-party.

“And this is why we are always careful to, you know, apply the sledgehammer on the heads of all of those persons accused of identifying with this thing called anti-party. Because you would soon realize that you have finished all the members of the party and you are leaving nobody behind.

“Everybody has one action or the other that can constitute what is anti-party in the face of law.

“So because he went there, they were inaugurated, none of them was PDP Local Government Chairman, none, the 21 of them. But the Chairman of the PDP Forum went there, gave his blessing for a sitting PDP Governor to inaugurate the opposition party and then they were all joyful and in festive mood. How will you now say you are serving PDP with this action alone?”

The result of Fubara backing APP is that PDP may likely lose Rivers State to APP. Said he:

“It’s a strong possibility. But if that happens, you can be sure we’ll retrieve our state in 2027. It’s just a question of time. It will be unfortunate if that happens, but from the way this whole thing is looking, we might get to that level.”

However, not a few people say that the PDP has already lost its soul and would lose Rivers State sooner than later if the crisis rocking the Party is not quickly resolved.

PDP Governors Back Yayari, Endorse Damagum’s Suspension

By

Adesina Soyooye

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October 14, 2024

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Ambassador Illiya Damagum and Alhaji Ahmed Yayari

By Adesina Soyooye

The new factional Acting National Chairman of the crisis-prone Peoples Democratic Party, PDP, Alhaji Ahmed Yayari, has the backing of the majority of Governors on the platform of the Party.

Nine of the Governors of the Party say they are solidly behind Yayari and fully endorse the suspension of Ambassador Illiya Damagum.

Yayari, the Acting National Treasurer was, a couple of days ago, appointed the Acting National Chairman after the Party was engulfed in suspension and counter-suspension drama which saw Damagum’s suspended by a faction of the Party after his own faction suspended a couple of others, including the National Publicity Secretary, Debo Ologunagba. It was Ologunagba’s faction which turned round and suspended Damagum and the National Secretary, Senator Samuel Anyanwu.

But nine Governors of the Party, on Sunday, say they fully back Yayari’s appointment.

This decision was a product of a virtual meeting the Governors held on October 12, 2024.

According to a report, “it signals a collective effort by the party’s leadership to ensure unity and internal cohesion”.

The Party has, in the past one year and counting, been engulfed in crisis, and has not been able to put itself together, discipline its members who are engulfed in anti-party activities, or play its role as a major opposition party.

According to reports, ”the meeting of the Governors was driven by the desire to strengthen the PDP ahead of the 2027 general elections, as the Governors reiterated their commitment to upholding the party’s constitution and ensuring internal disputes are resolved amicably and within the framework of party rules.”

Those who attended the meeting, virtually, are:

*Governor Siminalayi Fubara – Rivers State

*Governor Douye Diri -Bayelsa State

*Governor Godwin Obaseki -Edo State

*Governor Peter Mbah -Enugu State –

*Governor Ademola Adeleke Osun State

*Governor Umo Eno -Akwa Ibom State

Some the resolutions they took include:

Unanimous endorsement of the suspension of Iliya Damagum as Acting National Chairman.
Appointment of Alhaji Ahmed Yayari, the PDP’s National Treasurer, as the new Acting National Chairman.
Reaffirmation of their commitment to the party’s constitution and internal democratic principles.
Resolution to handle any internal conflicts through the established channels and promote party unity.

Prominent among the Governors who did not attend the meeting include Oyo State Governor, Seyi Makinde, a core loyalist of the Minister of the Federal Capital Territory, Adamawa State Governor, Ahmadu Fintiri and Plateau State Governor, Caleb Mutfwang, both new supporters of Damagum.

CBN: “Even Yahoo Boys” Cannot Borrow At Current Interest Rates – Sen Suswam Slams Apex Bank

By

James Orji

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October 14, 2024

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The decision by the Central Bank of Nigeria, CBN, to hike the monetary policy Rates, MPR, has continued to take a hit among major stakeholders of the nation’s economy.

Former Governor Gabriel Suswam of Benue state is the latest in the in the country to criticised the CBN for raising the MPR also known as the benchmark interest rate, thus, highlighting the criticisms that have trailed the hike within the nation’s business community.

Suswam, a senator said on Channels Television on Monday that no business owner can borrow funds at this rate and still survive, stressing that some commercial banks charge as much as 33 percent on loans granted to customers

The Yemi Cardoso-led CBN had on September 24 announced the hike in the interest rates from 26.75 percent to 27.25 percent during the monthly Monetary policy committee, MPC in Abuja, the nation’s capital, citing the need to control inflation in the country.

The apex bank has raised the rate many times this year, according to checks by the magazine.

The decision, has however, received trenchant criticisms from economic experts who said the consistent increase is unwarranted in the face of the current economic situation in the country.

Ahead the hike last month, not a few economic experts, including renown expert Bismark Rewane of the Derivative Company Ltd predicted that the CBN will not tamper with the August rate of 26.75.

Also, economic experts have warned in a report published by Bloomberg that it will not be in Nigeria’s best interest for the rate to be raised further, as doing so will be unpopular, amidst concerns that a high interest rate will further impact businesses negatively.

Speaking today, Senator Suswam said no business owner can borrow at this rate and survive under the current economic realities in the country.

He said even “Yahoo Boys” also known as internet fraud stars cannot borrow loan at current rate, advising the CBN and other managers of Nigeria’s economy to seek proper advise on the way forward.

CBN Governor, Cardoso had while announcing the new rate disclosed that the MPC arrived at the decision in other to ensure price stability and checkmate inflation in the country.

“The committee was, however, unanimous in recognising that a lot more is required to actualise the bank’s price stability mandate,” he said.

“The MPC noted that even though headline inflation trended downwards due to a moderation in food inflation, core inflation has remained elevated, driven primarily by rising energy prices.

“The uptrend poses severe concerns to members as it clearly indicates the persistence of inflationary pressures. Members thus reiterated the need to work in close collaboration with the fiscal authority to address the current upward pressure on energy prices.

“The MPC noted the continued growth in money supply, recognising the need to curtail excess liquidity in the system as well as address foreign exchange demand pressures,” Cardoso said.

PDP Laments Inability To Function As Opposition Party Due To Internal Crisis

By

Ayodele Oni

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October 14, 2024

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By Ayodele Oni

Factional Acting National Chairman of the People’s Democratic Party (PDP), Ahmed Yayari Mohammed, has charged that the Party should be ready and willing to play the role of effective opposition to develop democracy and seek for responsible and responsive government in our country.

He stated in his first statement on Monday, after a faction within the party announced his appointment as a replacement to Damagun, that the PDP in the past has not lived up to the expectation of Nigerians as an opposition party.

“The National Working Committee (NWC) of the PDP, on Thursday, October 10, 2024 appointed me as the Acting National Chairman to lead the charge to rekindle the hope and aspiration of our teeming members especially the youths, critical stakeholders and generality of Nigerians who wish to see a political Party that is ready and willing to play the role of effective opposition in the quest to develop our democracy and seek for responsible and responsive government in our country.

“The NWC under my leadership will be guided strictly by the Constitution of our Party and I will at all times be fair to all members irrespective of their status, position or state in the Party. Only this will guarantee and engender loyalty and commitment of our teeming members.

“The domestic events within our Party in the last few days calls for deep reflection about the management of the PDP especially at this crucial time in our nation, particularly as it relates to our role as an opposition Party and general management as a Constitution Compliant Party in the true spirit of the mission and vision of the founding fathers which are equity, fairness and justice.

“Regrettably, we must admit that we have not satisfactorily carried out the critical role expected of a virile opposition in a democracy.

“This, it has been observed is as a result of conflict on interests; – personal or political – elevated above Party interest which continues to have debilitating effect on the ability of our Party to perform effectively at various levels, particularly at the national level.

“This state of affairs continues to affect the performance and viability of our Party to perform its role as expected as a platform which Nigerians have come to admire and looked up to in view of the robust Constitution of the PDP (as amended in 2017) and the monumental achievements of the Party in the sixteen years in government.

Economy: FG Plans 15 Percent VAT Despite Denial

By

James Orji

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October 14, 2024

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A bill to raise the Value Added Tax, VAT, to 10 percent is currently before the National Assembly.

The Cable reports that the lawmakers are considering raising the VAT rate to 10 percent from the current 7.5 percent.

Recall that Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, had earlier in the year suggested the need to increased VAT.

VAT is a consumption tax on goods and services levied at each stage of the supply chain where value is added.

The administration of President Muhammadu Buhari raised the VAT rate to the current rate from five percent, citing the need to raise more revenues for the government.

Recent reports suggest that President Bola Ahmed Tinubu’s administration was considering a further hike, the government however denied such plan.

The rebuttal was issued by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, even though there are pointers that the government is poised for another VAT hike.

In the executive bill seen by newspaper, the national assembly is seeking to raise the tax rate to 10 percent by 2025.

The legislature also intends to increase the VAT to 12.5 percent by 2026 through 2029, according to the document.

“VAT shall be charged on the value of all taxable supplies at the following rates (a) 2025 year of assessment 10%; (b) 2026, 2027 2028 and 2029 years of assessment 12.5% (c) 2030 year of assessment and thereafter 15%,” the document reads.”

Edun had assured that the federal government had no plan to increase VAT clarifying “that there is no such proposal under consideration.”

The minister’s rebuttal was contained in a statement issued by the Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga, where he explained that the current VAT remains unchanged.

The statement read: “The Federal Government has officially debunked reports suggesting that the President Bola Ahmed Tinubu-led Administration plans to raise Nigeria’s Value-Added Tax (VAT) from 7.5% to 10%.”

“In a statement issued earlier today [Monday] morning, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, clarified that there is no such proposal under consideration, emphasising President Tinubu’s commitment to fiscal stability.

“HM Edun highlighted that the current VAT rate remains unchanged, and that the Federal Government is focused on strengthening the economy through sustainable policies aimed at reducing inflationary pressures without burdening citizens.

“He also stressed that recent fiscal measures, such as suspensions on import duties for key goods, are part of President Tinubu’s efforts to alleviate economic hardship.

“The Federal Ministry of Finance remains committed to transparent communication on all tax and economic policy matters, ensuring that citizens are well-informed and not misled by unfounded reports.

“The minister assured the public that any future tax reforms would be announced through official government channels to avoid misinformation.”