Catholic Bishops Warns of Uncertainty as Presidential Election Case Heads to Supreme Court Amid Controversy.

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September 11, 2023

No fewer than 399 pieces of improvised explosive devices were recovered by operatives of the National Drug Law Enforcement Agency from one Asana Leke, 39, along Mokwa-Jebba Road on Thursday, September 7.

The suspect, who said the explosives were handed to him at a park in Ibadan, Oyo State, to be delivered to someone in Kaduna, had since, alongside the exhibits, been transferred to the military authorities in Niger State.

Apart from the various drug control efforts, the NDLEA state commands and other formations also continued the anti-narcotics agency’s war against drug abuse advocacy campaigns in schools, worship places, palaces, and local communities amongst others.

He also noted that NDLEA operatives intercepted consignments of skunk concealed in tomato pastes, and methamphetamine hidden in used clothes meant for export to Dubai, the United Arab Emirates.

“While the skunk in tomato pastes consignment weighing 20kgs was intercepted on Friday, September 8, at the SAHCO export shed of the Murtala Muhammed International Airport, Ikeja, the meth shipment with a gross weight of 1.60kg was seized at a courier company in Lagos.

“Another consignment of 556 grams of Canadian Loud sent from Canada to one Tunji Adebayo in Ikorodu, Lagos, was also intercepted by NDLEA officers of the Directorate of Operations and General Investigation, attached to courier firms.

“Though Adebayo was not home when operatives visited his house at 52, Aina Atoloye Street, Ikorodu, he, however, directed his younger brother to sign for the package on his behalf. The brother was promptly arrested,” Babafemi said.

Meanwhile, NDLEA operatives on Monday, September 4, raided the enclave of a notorious drug lord in Akala, Mushin, Lagos, Abdul Rauf, aka ‘Na God’, where 1,101kgs of Ghanaian Loud was recovered and three suspects arrested, while the wanted kingpin remains at large.

In Ogun State, a follow-up operation led to the arrest of Yinka Azeez at Sabo Lafenwa, Abeokuta on Tuesday, September 5, following the seizure of 41kgs of cannabis from Titilayo Adetayo at Sagumu Interchange the previous day.

Also, at least, two suspects: Muhammad Aliyu, 38, and Abdullahi Zakariya, 40, were arrested in Zaria-Kano Road and Haye Arewa, Hotoro, Kano, respectively with over 426.5 kilogrammes of skunk on Tuesday, September 5.

While Onyeka Uzor, 25, was arrested at Idemili, Anambra State, with 64.8kgs skunk and Tramadol, another suspect, Destiny Irabor, was nabbed on Friday, September 8, with over 180kgs of opioids loaded in his Toyota Sienna bus.

In Kaduna, two suspects; Ahmed Yusuf and Rilwan Nura, were arrested on Wednesday, September 6, in connection with the seizure of 100 blocks of cannabis weighing 55kgs along Abuja road.

In Edo State, NDLEA operatives stormed the Ekudo forest in Onwude Local Government Area where they destroyed cannabis farms measuring 4.236347 hectares.

FG Flags Off Distribution of Relief Non-Food Materials to Over 900 Households in Shwari IDP Camps in Maiduguri.

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September 10, 2023

The Minister for Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, Friday flagged off the distribution of non-food items to the Internally Displaced Persons (IDPs) covering over 900 households at Shwari Camp 5 in Maiduguri, the Borno state capital.

The relief items include hundreds of mattresses, pillows, blankets, footwear, wrappers, and treated Insecticide mosquito nets.

The Minister assured the 480,000 unregistered IDPs that the Federal government was not unmindful of their plight and humanitarian needs, saying President Bola Ahmed Tinubu’s Renewed Hope Agenda, geared toward eradicating poverty will cover them directly working with the state Government.

She promised them that the social register, conditional cash transfer, and other social intervention programs of the federal government would be extended to them.

Dr. Edu expressed optimism that the relief items will go a long way in cushioning their harsh living condition and the Government will provide more durable solutions for them to cater to their families.

“The goal is to get everybody wherever they are, out of poverty and humanitarian crises, this is the commitment of President Bola Ahmed Tinubu.

“The President has directed that Nigerians who are living under one dollar per day, not even one dollar ninety-five cents daily, should be reached and pulled out of poverty.

“Vocations and skill training, micro small and medium size enterprises amongst other interventions are important for those who are here and ready, but for those who can trace where they came from, we will reunite them with their families and provide them with economic start-up capital to remove them and their families out of poverty”, the Minister said.

Continuing, Dr Edu said: “For some of you who have lost your husbands or children, Mr President says your resettlement is inevitable, in partnership with the State government and other development partners.

“President Tinubu has asked me to tell you that, you will be given economic startup and properly reintegrated back into society”

She lamented the poor living conditions of the unregistered IDPs who are largely from Northern Borno, vowing “We must change the narrative”. She commended the state Governor Professor Zulum for being exceptionally hands-on!

The state Commissioner for Women Affairs and Social Development, Hajia Zuwaira Gambo, who was on hand to conduct the Minister around the camp said, the state government had at various times provided for the IDPs.

Gambo appealed to the Federal Government through the Minister to complement what the Borno state government is doing to ease the suffering of the IDPs. She lamented that the number of IDPs keeps increasing daily.

“We appreciate your coming, Honourable Minister; the distribution of these nonfood items will go a long way to cushion the suffering of these IDPs.

“We equally appreciate Mr. President for his interest in the humanitarian needs of our people in various IDP camps in this state”, the Commissioner said

The Minister was accompanied to the IDP camp by the Acting Honourable Commissioner, National Commission for Refugees migrants and IDPs, Ambassador Catherine Udida, and other top officers of the Ministry of Humanitarian Affairs and Poverty Alleviation.

Rasheed Olanrewaju Zubair (ANIPR), Special Adviser On Media and Publicity To Honourable Minister, MHAPA

Currency Swap by CBN Surpasses $12 Billion Despite Reserves Weakness.

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September 9, 2023

Fitch Ratings has estimated the Central Bank of Nigeria’s currency swaps with domestic banks to be between $10bn and $12bn as of the end of 2022.

It stated that this was 30 percent of the country’s gross reserves (at $37bn as of 2022’s end), and comprised swaps with domestic banks, and others.

According to the international rating agency, this suggested that the country’s net reserve position may be weaker than anticipated, and emphasized its external vulnerabilities.

It disclosed this in a report titled, ‘Nigeria’s weaker reserves highlight external risk and policy challenges’, following the recent publication of the CBN’s financial statements.

The report added that “Fitch estimates, partly based on our survey data, that CBN swaps with domestic banks were $10bn – $12bn at end-2022, and are likely to remain close to that level, but there is less visibility on swaps it may have with international counterparties.

“We anticipate that most of these domestic swaps will continue to be rolled over, reflecting incentives for banks to invest the naira received in high-yielding sovereign securities and the sector’s limited reliance on swaps for foreign-currency liquidity given its sizeable foreign-currency placements with international banks.”

It said the recent publication of consolidated financial statements to end-2022 by the CBN, the first for many years, suggested the net reserve position may be weaker than we had anticipated. The statements, which confirmed sizeable liabilities, increased transparency around Nigeria’s reserves, but important gaps remained, preventing a reliable assessment of the net reserve position.

Fitch said, “When we affirmed Nigeria’s rating at ‘B-’ with a Stable Outlook in May, we stated that external finances were a key rating sensitivity. We estimated that around 30 percent of Nigeria’s gross reserves (which were $37bn at end-2022) comprised swaps with domestic banks, although we considered that some other reserves could well be encumbered.”

The credit rating agency highlighted that the CBN financial statements indicated that liabilities as of the end of 2022 included $7.5bn securities lending ($5.5bn of which was short-term), and $6.8bn short-term liability from foreign-currency forward payables.

It stated that uncertainty surrounded the near $32bn of “FX forwards, OTC futures, and currency swaps”, which were recorded as an off-balance-sheet commitment but were not broken down.

It noted that this could include some non-deliverable contracts settled in naira, which would not be a drain on reserves, as well as commitments of a longer tenor.

Fitch said the recent exchange-rate liberalization and improvements in the overall monetary policy framework could strengthen the country’s credit profile by easing foreign-currency supply constraints, but a recent loss of reform momentum and the constrained reserve position highlighted the significant challenges these policy adjustments faced.

It noted that the reserve disclosures offset more positive recent developments for Nigeria’s credit profile.

Recently, JP Morgan disclosed that the country’s total currency swaps stood at $21.3bn as of the end of 2022. It stated that the slow net FX reserves meant continued FX market pressures.

The Central Bank of Nigeria also recently faulted a recent estimation of the country’s foreign reserves by JP Morgan saying it was presented out of context.

Making clarification on the estimation of Nigeria’s reserves, the Director of the Monetary Policy Department, CBN, Hassan Mahmud, noted, “We have the numbers there. The central bank’s reserves are on our bank net. Yes, the figure you see today may not be exactly to the last decimal point, but you have that picture that you are seeing there.”

He added, “We have $33bn, there is an IMF facility there, the SDR is also there, we have the JP Morgan numbers that you mentioned, we have forwarded, they are all there.”

Tribunal: Osinbajo Congratulates Tinubu, Shettima

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September 9, 2023

Former Vice President Yemi Osinbajo has congratulated President Bola Tinubu and Vice President Kashim Shettima on their victory at the Presidential Election Petition Tribunal, which affirmed the All Progressives Congress winner as the Presidential Election of February 25, 2023.

The PEPC had on Wednesday delivered a 12-hour judgment on the appeals arising from the presidential election, upholding the election of President Bola Tinubu.

Atiku and Obi had rejected the court’s judgment, vowing to approach the Supreme Court.

In a statement on Saturday via his verified Facebook account, Osinbajo stated that the PEPC ruling was a great victory for Nigeria’s constitutional democracy and the rule of law.

The statement reads, “Congratulations to President Bola Ahmed Tinubu, Vice President Senator Kashim Shettima, and our great party, the All Progressives Congress, on the judicial affirmation of the victory at the presidential election of February 25, 2023.

“This ruling is a great victory for Nigeria’s constitutional democracy and its rule of law.

“The practice of democracy in our nation has been further strengthened by the fact that all parties faithfully followed the electoral process according to the law and relied on our courts in the event of a dispute.”

He added that President Tinubu and his administration now needed Nigerians to come together and work as one to achieve a common goal.

“Our nation now needs all of us to work together to address our challenges and to deliver the realization of the incredible potential of our nation”, he said.

Kwankwaso Moves to Change NNPP Logo, Amend Constitution.

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September 9, 2023

The crisis rocking the leadership of the New Nigeria Peoples Party has taken a new twist following a move by the faction of Senator Rabiu Kwankwaso to amend the party’s constitution and logo.

The decision to amend the constitution was confirmed during an exclusive interview with the National Auditor of NNPP, Ladipo Johnson.

The development is coming three days after the faction of the party under the leadership of Major Agbo expelled the presidential candidate of NNPP for alleged anti-party activities and misappropriation of party campaign funds.

Kwankwaso’s expulsion was announced in a statement released on Tuesday by the NNPP’s factional National Publicity Secretary, Abdulsalam Abdulrasaq.

Abdulrasaq affirmed that the decision to expel Kwankwaso with immediate effect was taken after he failed to appear before the disciplinary panel to defend himself over the allegations leveled against him.

The expulsion of the former Kano governor caused disaffection within the party and saw chieftains from opposition camps trading blame.

A few days after the drama, Saturday PUNCH findings revealed that there was a subtle move by the Kwankwaso camp to amend the logo and constitution allegedly to weaken the grip of the NNPP founder, Dr Boniface Aniebonam.

Although the development was confirmed by Johnson who was the chairman of the disciplinary committee that expelled some factional members of the party a few weeks ago, the national auditor, however, denied the move was a response to the emergence of a faction within the NNPP.

“No, it has nothing to do with any faction. It was something we already discussed at the NEC. Unlike them (Agbo faction), we are serious people. But we haven’t changed the logo yet. We are planning to throw it out there for our members to compete and come up with ideas,” he said.

Reacting, the acting National Chairman of the faction, Major Agbo, told our correspondent that they were aware of the subtle move which they believed was directed at removing the immunity of the founder.

He said, “Obviously, the proposed amendment to the constitution and changing of logo they are talking about was deliberate. That was because they discovered suddenly that the man they were after (the founder) had immunity by the provision of that constitution. That’s why they are in a hurry to amend it.”

The Verdict Calls for Celebration of Divine Providence, Says Kashim Shettima.

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September 7, 2023

… Both Obi and Atiku set to challenge the verdict at the Supreme Court.

In the wake of the Presidential Election Petitions Tribunal’s ruling, which solidified President Bola Tinubu’s triumph in the February 25, 2023, presidential election, Vice President Kashim Shettima expressed his gratitude, stating that the judgment is praiseworthy and a reason to glorify God.

Shettima extended his appreciation to the judiciary for their dedication to upholding justice.

The Vice President shared these sentiments during a press conference following the tribunal’s decision on Wednesday in Abuja.

The tribunal dismissed the case brought forward by Atiku, the presidential candidate of the Peoples Democratic Party, and his Labour Party counterpart, Peter Obi, affirming Tinubu’s victory.

Both Atiku and Obi have voiced their dissent regarding the tribunal’s judgment. Kehinde Edun, the Legal Adviser to the Labour Party, declared their intent to challenge the verdict at the Supreme Court.

Furthermore, Chris Uche, SAN, Atiku’s Lead Counsel, disclosed that they have received instructions from their client to file an appeal at the Supreme Court.

He remarked, “The judgment has been rendered, but justice remains elusive in our view. Fortunately, the law allows us to appeal to the Supreme Court, and we have received instructions from our clients to do just that. The pursuit of justice continues.

APC Group Applauds Tribunal Decision, Encourages Opposition to Back Tinubu

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September 7, 2023

A political support group in the 2023 Presidential Elections, Bola Campaign Organisation, has lauded the judiciary for validating President Bola Tinubu’s victory and the All Progressives Congress in the February 25 presidential election.

BCO said the judiciary has again identified itself as a true defender of democracy in the country by ruling in Tinubu’s favour as the winner of the presidential election.

This was contained in a communique signed by the group’s National Patron, Alhaji Abdulwahab Quardi; National Coordinator, Mohammed Makinta; and National Women’s Leader, Alhaja Folashade Tinubu-Ojo, and made available on Thursday.

PUNCH reports that a five-member panel of the Tribunal took turns to dismiss the petitions presented by the Peoples Democratic Party and its candidate, Atiku Abubakar; Labour Party and its candidate, Peter Obi; against the declaration of Tinubu as the winner of the presidential election by the Independent National Electoral Commission on March 1, 2023.

The judgment was delivered by the Chairman of the tribunal, Justice Haruna Tsammani, assisted by Stephen Adah, Monsurat Bolaji-Yusuf, Moses Ugo, and Abba Mohammed.

The group maintained that the tribunal’s verdict was an affirmation of the trust reposed in the President by Nigerians, describing the judgment as detailed, articulated, and comprehensive.

It said, “We commend the judiciary for this victory, for demonstrating uncommon will by validating the mandate freely given by the Nigerian citizens to President Bola Tinubu at the February 25 presidential election.

“We are elated that the judiciary has demonstrated bravery that the APC and its candidate were the actual winners of the election through its detailed, well articulated and comprehensive verdicts.

“This verdict was an affirmation of the trust reposed in the President by Nigerians and would serve as a morale booster for the President and his team”.

The group, however, called on members of the opposition parties to join hands with President Tinubu for the growth of the nation

“We, therefore, call on members of the opposition, particularly, Mr. Peter Obi of the LP and his PDP counterpart, Alhaji Atiku Abubakar, to join hands with President Bola Ahmed Tinubu, to take Nigeria to enviable heights in terms of economic prosperity and human capital development, ” the group added.

Consumers Protest as FG Hikes Electricity Meters Price by 40%

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September 7, 2023

The Federal Government, on Wednesday, announced an increase in the prices of single-phase and three-phase pre-paid electricity meters and declared that the hike takes effect from September 6, 2023.

It announced this in an order released by the Nigerian Electricity Regulatory Commission with a number, NERC/2023/020, and jointly signed by the commission’s Chairman, Sanusi Garba, and its Commissioner, Legal, Licencing, and Compliance, Dafe Akpeneye.

In the order, the government stated that a single-phase meter would now cost N81,975.16k from the previous price of N58,661.69k, while the price of a three-phase meter was raised to N143,836.10k from N109,684.36k.

This was, however, kicked against by power consumers, who wondered why the Federal Government had continued to hike the cost of various commodities in Nigeria’s energy sector.

But explaining why it hiked the costs of the meters, the NERC said it was to ensure fair and reasonable pricing of meters to both Meter Asset Providers and end-user customers.

It said the hike would ensure MAP’s ability to recover reasonable costs associated with meter procurement and maintenance while ensuring that its pricing structure allowed for a viable return on investment.

“Evaluate the affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users. Ensure that MAPs are able to provide meters to end-use customers in the prevailing economic realities,” the commission stated.

It said the closure of the metering gap for end-use customers was fundamental to the financial sustainability of the Nigeria Electricity Supply Industry as end-use meters provide revenue assurance to both the utility and their end-use customers.

“The Meter Asset Provider scheme is one of the four frameworks in the regulations for the provision of meters to end-use customers in NESI.

“Section 8(1)(c) of the regulations provides that the costs of single-phase and three-phase meters issued by MAPs, inclusive of all other associated costs of installation and warranties shall be at the regulated rates approved by the commission.

“The commission notes that significant changes in macroeconomic indicators, such as inflation and changes in the foreign exchange rates have necessitated a review of the regulated rates for MAP meters,” the NERC stated.

It said the commission also considered relevant data on the significant changes in macroeconomic indicators from the Central Bank of Nigeria and the National Bureau of Statistics as benchmarks for the meter price review.

Meanwhile the commission stated that the costs of single-phase and three-phase meters for MAPs, inclusive of all other associated costs of installation and warranties, shall remain at the regulated rates approved by the NERC.

It said the approved meter prices were exclusive of Value Added Tax, but noted that they were inclusive of the revised Nigerian Electricity Management Services Agency sealing cost.

It stated that the sealing cost for a single-phase meter was N842.80 per unit, while that of a three-phase meter was N1,100.80 per unit.

“All MAPs shall adjust their prices to reflect the approved rates. All MAPs shall supply meters previously paid for by end-use customers prior to the commencement of this order at the prevailing rate when payment was made by the customers without additional increase in cost.

“All Discos and MAPs are to develop/implement customer enlightenment campaigns on the price review along with a schedule on the implementation of their meter rollout plans. All MAPs shall continue to file monthly sales and meter installation returns with the commission,” the industry regulator stated.

Consumers react:

Power users opposed the hike in the prices of meters, as they called on the government to consider the plights of Nigerians and reverse the increase.

“They (government) have talking about this since the unification of the foreign exchange rates, but we warned against it due to the plights being faced by Nigerians currently,” the National Secretary, Nigeria Electricity Consumer Advocacy Network, Uket Obonga, stated.

He said the hike was due to pressure from Meter Asset Providers on the government, as some of the MAPs threatened to pull out from the provision of meters if the cost of the equipment remained the same.

Massive Youth Solidarity Walk/Endorsement Demands Engr. Hon. Yusuff Hussaini as Minister of Youth Development.

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September 7, 2023