FG Says VAT On Goods Remains, No Increment

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September 9, 2024

By Ayodele Oni

The Federal Government has clarified that as of today, the Value Added Tax, (VAT) remains 7.5 percent on all the goods and services that are “VAT-able.”

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, was reacting on Monday, to report that government has increased VAT on goods.

The minister debunked reports doing the rounds that the rate for Value-Added Tax (VAT) has been upwardly adjusted to 10 per cent from 7.5 per cent.

Former vice president, Atiku Abubakar had on Sunday warned that any attempt to jerk up VAT would spur Nigerians to protest.

The Minister, in a statement signed by him, on Monday affirmed that the VAT rate as contained in relevant tax laws and chargeable on goods and services remains at 7.5 per cent.

“The current VAT rate is 7.5% and this is what the government is charging on a spectrum of goods and services to which the tax is applicable.

“Therefore, neither the Federal Government nor any of its agencies will act contrary to what our laws stipulate.

“The tax system stands on a tripod, namely tax policy, tax laws and tax administration. All three must combine well to give us a sound system that gives vitality to the fiscal position of the government.

“Our focus as a government is to use fiscal policy in a manner that promotes and enhances strong and sustainable economic growth reduces poverty as well as makes businesses flourish.

“The imputation in some media reports on the issue of VAT and the opinion articles that have sprouted from them seem to wrongly convey the impression that the government is out to make life difficult for Nigerians.

“That is not correct. If anything, the Federal Government has, through its policies, demonstrated that it is committed to creating a congenial environment for businesses to thrive.

“In fact, it is on record that the Federal Government, as part of efforts to bring relief to Nigerians and businesses, recently ordered the stoppage of import duties, tariffs and taxes on rice, wheat, beans and other food items.

“For emphasis, as of today, VAT remains 7.5% and that is what will be charged on all the goods and services that are VAT-able.”

High Cost Of Living: Southern Students Suggest Suspension Of Fees, Online Education

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Ayodele Oni

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September 9, 2024

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By Ayodele Oni

The Association of Southern Nigerians Students, (ASONIS) has put forward proposals to reduce Students’ plight in the face of current high cost of living occasioned by hike in fuel price.

The students body called on states government and higher institutions in the zone to re-establish online education as a principal mode of instruction, particularly for non-laboratory-based courses.

This was contained in a statement signed by Taiwo Temitope,

President Elect and Megbowon Ezekiel, General Secretary Elect.

“This would immediately alleviate the financial strain imposed by transportation costs, while simultaneously leveraging technology to democratize access to education.

“To mitigate the steep rise in commuting costs, ASONIS advocates for the implementation of free or subsidized shuttle services for students.

“State Governments and tertiary institutions must collaborate to introduce a fleet of buses dedicated to transporting students to and from campuses at no or minimal cost.

“This initiative could be underwritten by targeted public-private partnerships (PPPs) and subsidies from Federal fuel tax revenues, pro bono publico.

“In line with the economic principle of lex talionis, wherein extreme financial hardship necessitates temporary relief measures, ASONIS calls for a reduction or temporary suspension of school fees.

“Such a move would offer immediate relief to students and families grappling with the current economic upheaval, especially those who are self-sponsored or depend on loans and grants.

“Drawing inspiration from the commendable efforts in Lagos and Ekiti States, we propose that higher institutions introduce work-from-home policies for non-essential campus staff.

“By reducing the presence of non-teaching personnel on campuses, institutions can curtail operational costs, allowing for budgetary reallocations towards student-focused initiatives.

“ASONIS proposes the establishment of ad hoc financial support programmes aimed at ameliorating the economic hardships faced by students.

“These hardship grants or bursary schemes could be administered by both state governments and individual institutions, ensuring that the most vulnerable students receive timely and targeted assistance.

“The economic ramifications of the PMS price hike are not transient but rather represent a structural shift in the Nigerian economy.

“ASONIS as such believes that a concerted and strategic response is required to safeguard the interests of southern Nigerian students.

“The recommendations outlined herein provide a roadmap for mitigating the deleterious effects of the price hike, ensuring that students can continue their education in a stable and supportive environment.

“We call on all stakeholders, including the Federal Government, State Governments, and Educational Institutions, to act swiftly and decisively.”

Ajaero’s Arrest: NLC Puts Workers On Alert, Says Whereabouts Unknown, Demands Immediate Release

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Ayodele Oni

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September 9, 2024

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By Ayodele Oni

The Nigeria Labour Congress (NLC) has said the whereabouts of its President, Joe Ajaero, is unknown following his arrest Monday morning.

Ajaero was picked up at the airport in Abuja on his was to attend the conference of the Trade Union Congress, (TUC in the United Kingdom.

A statement by the NLC Head of Information and Public Affairs, Benson Upah, stated that Ajaero is being held without any legal warrant or legal instrument.

The statement reads: “This morning, the President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero, was seized and whisked away by agents of the Nigerian State while on his way to the United Kingdom on the invitation of the Trade Union Congress (TUC) of Britain.

“Comrade Ajaero was set to attend and address the global gathering of workers on behalf of Nigerian workers at the Congress of the Trade Union Congress (TUC) in the UK, a platform where critical discussions on workers’ rights, social justice, and economic fairness are discussed.

“We are yet to ascertain his whereabouts or his state of health as all efforts we have made to get in touch with him have proved abortive.

“We wish to categorically state that Comrade Ajaero has been detained without any legal warrant or formal instrument. Joe Ajaero is not a fugitive.

“His detention is, therefore, a brazen act of lawlessness and intimidation as he has not been declared wanted by any law enforcement body.

“His detention is a brazen act of intimidation and completely unjustified under the laws of our nation.

“The mere contemplation of not just stopping a lawful citizen from travelling, but also, sequestering his freedom is an affront to our democratic and natural rights as a people and as workers.

“This is an unmistakable demonstration of the height of lawlessness being perpetuated by the Nigerian government and its agencies in their bid to silence every voice of dissent and opposition in the country as the economic policies of the government continues to afflict the people with monumental suffering and hardship.

“Such actions are not only undemocratic but immoral as well as a direct affront to the fundamental rights of citizens and organizations to lawfully express their views and carry out their activities.

“In light of this troubling development, the Congress puts all its affiliates, State Councils, Civil society allies and all patriotic Nigerians on the highest state of alert.

“The Congress will not stand idly by while the rights of its leaders and members are trampled upon. Accordingly, we demand for the immediate and unconditional release of comrade Joe Ajaero.

“Furthermore, we call on the International Community, Human Rights Organizations, and all advocates of democracy to take note of this rising wave of authoritarianism in Nigeria. The world must bear witness to these assaults on human dignity, civil liberties, and the rule of law.

“The NLC remains resolute in its commitment to protecting workers’ rights and will not be cowed by the oppressive tactics of the state.

“Once again, we demand the immediate and unconditional release of Comrade Joe Ajaero and the cessation of all forms of harassment against labour leaders and the Nigerian working class including innocent citizens who hold dissenting opinions.

“We equally demand that the state frees all Nigerians languishing in various prisons around the country for exercising their democratic rights to protest in the #EndBadGovernance rallies around the country.

“Finally, the Organs of the Congress are in a closed door meeting whose outcome will be made available to the public.”

DSS Hands Over Joe Ajaero To NIA

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Adesina Soyooye

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September 9, 2024

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By Adesina Soyooye

The arrested President of the Nigeria Labour Congress, NLC, Joe Ajaero, has been handed over to the National Intelligence Agency, NIA.

Ajaero was arrested at the Nnamdi Azikiwe International Airport, Abuja, on Monday, September 9, 2024, as he was about to board a flight for an official assignment in London, United Kingdom.

It is not known yet, exactly, why Ajaero was arrested, but he, and the NLC which he leads have been having a running battle with Nigeria’s Security Agencies.

It began on August 8, 2024, when the NLC Headquarters in Abuja was raided by Police Operatives in the night at about 9.00pm. They raided a couple of floors including the 10th. They went away with some documents, including books.

Initially, the Police denied its operatives carried out any operations at the NLC Headquarters, but admitted they did when the outrage reached high heavens.

However, the Police clarified that they went to the NLC in search of a foreign terrorist who is a tenant there.

Later, the Police raised the ante by inviting Ajaero in a letter dated August 19th, where he was asked to report for questioning on August 20th. In the letter, Ajaero was charged with alleged involvement in terrorism, its funding, criminal conspiracy, cybercrime and treasonable felony.

However, through his, and NLC’s Lawyer, Femi Falana, SAN, Ajaero shifted the scheduled interview date to August 29. His visit on August 29 was an anti-climax.

He neither wrote a statement nor asked any questions relating to the serious allegations contained in his letter of invitation.

He was there for only about 20 minutes. He was asked about a tenant at the NLC Headquarters.

But again, the Police raised the ante. They invited Ajaero again with the NLC General Secretary, Comrade Ugboaja, against the 5th of September, this time, alleging criminal intimidation. But the two responded and proposed 29th September because of previous scheduled commitments.

NLC’s Lawyer, Falana, had explained, a couple of days ago that this second invitation to Ajaero is in connection with a petition against the NLC by a private company, allegedly, over the picketing and destruction of its property.

Apparently, it seems more than that given Ajaero’s arrest Monday morning at the Airport by the DSS which handed him over to the NIA.

Joe Ajaero, President NLC, Arrested

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The Source

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September 9, 2024

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By Gideon Njoku

The Department of State Security, DSS, has arrested Comrade Joe Ajaero, President of the Nigeria Labour Congress, NLC.

Ajaero, reports say, was arrested Monday morning, September 9, 2024, at the Nnamdi Azikiwe International Airport, Abuja.

He was on his way, allegedly, to the United Kingdom for an official assignment.

He was billed to attend a Conference in London of the Trade Union Congress.

“I Don’t Know Whether PDP Is Alive Or Not, But Wike Does Not Have The Oxygen To Fight It” – Senator Ekpenyong

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Suleiman Anyalewechi

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September 9, 2024

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By Suleiman Anyalewechi

Former Deputy Governor of Akwa Ibom State, Senator Chris Ekpenyong has blamed the present prostrate condition of the Peoples Democratic Party, PDP, on the deviation from its founding principles.

This is even as he noted that Nyesom Wike, the Federal capital Territory, FCT, Minister, does not have the required wherewithal to derail PDP and its vision.

Epenyongrepresenting who addressed the media on Sunday September 8, 2024 in Uyo said the dysfunctional state of the PDP has given individuals, including Wike and Governors to become “taller than the party”

Senator Ekpenyong spoke against the backdrop of Wike’s threat to destabilize States which Governors are perceived to be now, supporting his estranged political godson, Governor Siminalayi Fubara, to, according to Wike, erode his PDP structure in the State.

“Asking me about a very young man who peradventure, came to be initiated into a political party and grew from the ranks of being the chairman of a Local Government through the instrumentality of his boss, Dr Peter Odili, and became what ever he became.

“He now says he wants to fight the stem. You know, everything has a stem. I will not join issues with him but I think he is taking advantage of the fact that our party has deviated from what was supposed to be the vision and mission of its founding fathers.

“Otherwise, you would not see anyone who became a Governor of the PDP, now becoming taller than the party. It would not have been, but I am yet to see how he will fight.

“It will be a surprise to say whether PDP is alive or not. PDP has gone into a cocoon, it is yet to be revived. But even at that, Wike does not have the oxygen to fight the PDP. I think he does not.”

The Former Akwa Ibom Deputy Governor blamed the slide in the fortunes of the party on the fact that after deviating from its founding principles, it has also allowed state Governors to be calling the shots.

According to him, “with Governors, in charge, the PDP abandoned its toga as party devoted to the promotion of social justice and fairness, to assume the status of a platform that embraces imposition.

” PDP is a national party which you can find in all nooks and crannies of the country. It is a party that is predicated on social justice and fairness and that means you cannot just hand-pick, you must go through a process, and you must be the people’s choice.” Senator Ekpenyong stated .

He insisted that the PDP lost focus the very moment imposition became the rule, with state Governors becoming taller than the party.

But he expressed the optimism that with the required leadership and political will, the PDP could recreate and rediscover itself .

FBNH Announces Sale Of Merchant Bank

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Tosin Olatokunbo

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September 9, 2024

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FBN Holdings Plc is no longer the owner of FBNQuest Merchant Bank.

The Group sold the bank to “the highest bidder” despite its impressive gross turnover of over 43 percent to N35.5 billion in the 2023 financial year, analysts say.

But the Nnamdi Okonkwo-led FBNH said the sale was in line with its strategic objective to minimize the portfolios under its control.

The development, analysts say, followed the legal battle for control between the financial services provider and some shareholders, a situation that prevented FBNH from holding its Annual General Meeting, AGM, initially scheduled for September 3, 2024.

Announcing the change of ownership at the weekend, FBNH Acting Company Secretary, Adeware Arogundade stated that the company with the highest bid got the bank.

According to the statement filed with the Nigeria Exchange Limited, NGX, the Holder said EverQuest Acquisition LLP a consortium comprising Custodian Investments Plc, Aion Investments, and Evercorp Industries emerged the winner after a competitive bidding process.

The sale, the statement said, is part of the company’s strategy to minimize portfolios under its control.

The Group said, “By the Nigerian Exchange Limited (NGX) Rulebook, we at this moment notify the Nigerian Exchange Limited and the investing public that FBN Holdings Plc (“the Company”) has entered into a Share Sale and Purchase Agreement to divest its 100 per cent equity stake in its wholly owned subsidiary, FBNQuest Merchant Bank Limited. This sale aligns with the Company’s strategy to optimize its portfolio within the Group.

“Following a competitive bid process, EverQuest Acquisition LLP (comprising Custodian Investments PLC, Aion Investments and Evercorp Industries) was selected as the preferred bidder. The completion of the sale is subject to approvals from the relevant regulatory authorities.”

Insecurity: “You Are Free To Go” Military Tells 1000 Soldiers

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Tosin Olatokunbo

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September 9, 2024

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General Christopher Musa, Chief of Defence Staff.

The Nigerian Army says soldiers are free to voluntarily disengage from the Armed Forces, saying recruitment is not by “conscription.”

Maj Gen.Onyema Nwachukwu, Director, Army Public Relations made the remark in his reaction to the controversy that has trailed the mass retirement of soldiers from the Force.

According to checks, over 1,000 soldiers have resigned from the Nigerian Army in the last four years, from 2020 to 2024.

Reports claimed that close to 60 soldiers had retired from the Nigerian Army in 2023 alone, while in August this year, 196 soldiers resigned from the Nigerian Army.

Further checks indicate that those that disengaged from the Army had not attained the retirement age or mandatory years of service before the exited.

Suggestions are that the disengaged servicemen decided to leave because they were dissatisfied with what is going on in the country’s Armed Forces.

While some soldiers have alleged high level of corruption against the Armed Forces management, others have expressed their dissatisfaction with the way the war on insurgency and banditry has been prosecuted in the northern parts of the country.

Instructively, the core of the allegation is that the top echelon of the Military are among the sponsors of insecurity in the region.

How ever in his reaction to the mass retirement Gen Nwachukwu, said soldiers who wish to leave the service cannot be compelled to remain.

He explained that several factors are responsible for soldiers disengagement, including medical and personal reasons, adding that this is in line with international best practices.

Onyema said, “Though I do not have the exact details of yearly retirements or discharge of personnel currently, I can say that officers and soldiers are processed for retirement or discharge by time, based on laid down criteria and provisions of the terms and conditions of service of the Armed Forces of Nigeria, especially those who have served out their mandatory 35 years of service.

“A few retire or discharge on medical grounds, while very few seek discharge voluntarily for personal reasons. Retiring or discharging from active service is, therefore, not a strange phenomenon, as this is also obtainable in other local and international security and civil organisations. I must add quickly that service in the Nigerian Army is not by conscription.”

Meanwhile, not a few Nigerians insist that the mass retirement of soldiers is a vote of no confidence on the Nigerian Military which is currently struggling to contain insecurity across the country. The development, they say, will further demotivate serving personnel.

Tinubu’s Ally Calls For Reduction In Electricity Cost, Says It’s Killing Business

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Tosin Olatokunbo

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September 9, 2024

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President Bola Ahmed Tinubu’s ally Joe Igbokwe has appealed to the president to intervene in the cost of electricity tariff being charged by DICSOS in the country.

Igbokwe, a chieftain of the All Progressives Congress, APC, in Lagos state made the appeal in a message he shaared on his Facebook page on Sunday.

According to him, the high cost of electricity tariff currently being paid in the country by individuals and companies is capable of destroying businesses.

He urged Tinubu to use his powers as president to bring the cost of electricity down so that businesses can thrive.

Igbokwe, in the post, lamented that N20,000 worth of units only lasted him for just a day, praying Tinubu to “review” the tariff in the interest of Nigerians.

He said: “PBAT, please look into the new electricity tariff in Nigeria. It will kill businesses if the government does not act as quickly as possible. I have a small office in Surulere with about about 7 units of AC.

“We used to buy 300 plus units for N20,0000. Yesterday we bought N20,000 worth of units and it lasted for just one day. They call it band A group. I pray that we review this”.

The Adebayo Adelabu-led Ministry of Power has come under attack from not a few Nigerians for increasing electricity tariff in the country by over 200 percent of the cost being paid before he came into office.

The minister justified the hike saying the former cost was not sustainable.

Dangote Refinery: De-Renaissance Drags Lagos Govt To Court For Collecting $100m From Africa’s Richest Man

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Tosin Olatokunbo

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September 9, 2024

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De Renaissance, a group representing the indigenous people of Lekki has dragged the Lagos State Government to court over a $100 million allegedly paid by Dangote Refinery to acquire a piece of land where the petrochemical plan was cited.

In the suit at the federal high court in Lagos, the group is praying the court to compel the state government to release information about whether or not Aliko Dangote paid the sum to the state government.

The magazine reported that Africa’s Richest Man and the promoter of the Refinery claimed last month that he paid the state government $100 million to acquire the huge expanse of land where he cited the refinery.

The revelation had raised serious controversy among not a few Nigerians who initially thought that the land was acquired free from the state government.

The De-Renaissance, in the suit, is now seeking from the state government a detailed account as to how such huge amount of money in hard currency was collected in exchange for the poor Ibeju-Lekki people’s land, and why the issue was kept away from the public until recently.

The account in which the money was paid should also be made public, the group told the court.

The request is contained in an originating motion, brought under 1. Section 39 of the Constitution of the Federal Republic of Nigeria 1999 as amended; 2. Sections 1,3, 4, 7, 20 and 24 of the Freedom of Information Act 2011 and 3. Inherent jurisdiction of the Honourable Court in the matter of application by 1. De Renaissance Patriots Foundation and 2. Ibeju-Lekki Peoples Forum, who are the Applicants, joining 1. Mr. Babajide Sanwo-Olu, 2. Attorney General of Lagos State, 3. Accountant General of Lagos State, 4. Permanent Secretary, Lands Bureau, Lagos State and 5. Lagos State Government, who are the Respondents.

The motion, filed and registered by the court with Suit no FHC/L/CS/1603/2024 on at 1:20pm on Friday September 6, 2024, is seeking the court for an Order of Mandamus to be issued against the respondents with a view to compelling the Lagos State Government to release the information required by the applicants.

Speaking immediately after the filing of the motion at the weekend, lead counsel to the applicants, Barrister Yakubu Eleto Esq, said the entire livelihood of the people of Ibeju-Lekki were destroyed by the mere fact of the siting of the Dangote Refinery without any affected resident/host communities compensated.

He said, “Babatunde Raji Fashola (SAN), as sitting Governor in 2015, using a public address said that they brought Dangote to Ibeju-Lekki in good faith to assist governance, to assist the Lagos State economy, that they gave him the land for free and that he didn’t pay anything for it.”

He said that was what the Lagos State government at the time used to cajole the people until recently, nine years after that, Dangote cried out saying the land he used to build his refinery was not for free but that he paid $100 million for it.