Court dismisses suit seeking Buhari’s tenure elongation 

The Federal High Court sitting in Abuja has dismissed a suit seeking the tenure elongation of former President Muhammadu Buhari pending when the presidential election petitions tribunal will deliver its judgment. The Plaintiffs had also sought an order from the court directing the former President not to hand over to President Bola Tinubu until the petitions at the tribunal are finally disposed of. They had also prayed for an order of the court directing the CJN not to administer the oath of office to President Bola Tinubu. At Friday’s proceedings where the matter was slated for mention, the plaintiffs and their counsel were absent from court. At the last adjourned date of 9th June, the plaintiffs were also absent from court. The court had ordered the registry of the court to serve the plaintiffs with the hearing notice.  Today,  the plaintiffs, having taken hints from the court’s previous judgments on cases with similar subject-matter, avoided the court, as neither they nor their counsel was present in court. The presiding judge, Justice Inyang Ekwo, held that already the plaintiffs were duly informed about today’s proceedings, but they decided to run away knowing that their prayers were unconstitutional. The court noted that if the plaintiffs were present in court, orders would have been made against them.  The court subsequently dismissed the suit.

Otong emerges Speaker, Akwa Ibom 8th Assembly

Mr Udeme Otong (PDP), representing Abak State Constituency, has emerged as the Speaker of the 8th Akwa Ibom House of Assembly. Also, Mr Kufreabasi Edidem (PDP), representing Itu State Constituency, emerged as the Deputy Speaker in the election preceding Friday’s inauguration of the house in Uyo. Otong, a two-term lawmaker, emerged after he secured 20 votes to defeat his only contender, Mr Ukpong Akpabio, who scored 6 votes. Akpabio (PDP) is representing Essien Udim State Constituency. The Speaker was earlier nominated and seconded for the position by Mr. Effiong Johnson – (PDP, Mbo State Constituency), and Mr Uwem Imo-Ita – (PDP, Mkpat Enin State Constituency), a first-timer in the house. In an inaugural speech, Otong thanked his colleagues for their support which, he said, saw him emerge as the speaker. He said that the members had placed a big responsibility on his shoulders and solicited for their support and cooperation to succeed. He also urged them and people of the state to cooperate with the new administration to move the state forward.

Internet Fraud: EFCC arrests 52 suspects

Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) have arrested 52 suspected internet fraudsters in Ogun. Its Spokesperson, Wilson Uwujaren, said this in a statement on Friday in Abuja. According to him, the suspects are Olamilekan Ayuba, Ogundeyi Kayode, Abdulrahman Abiodun, Blessing Omokaro, Olasupo  Ridwan, Adetola Salau, Adeola Ideraoluwa, Victor Osikwemeh, Taiwo Ayobami, Eleshin Ademola, Ayomipo Adelere, Shogbesan Quadri, Sanni Qudus. “Others are: Olanite Oluwatosin, Olatunbosun  Alameen, Aderemi  Adekunle, Olawunmi  Tosin, Ayobado  Olatunde, Ariyo  Taofik, Olugbade David, Olumayowa  Adedayo, Aremu  Alabi, Akintosoye  Pelumi, Fatoye Akanbi and  Adio  Oyebanji. “Also arrested  are:  Adekoya Samuel, Adebayo Taiwo, Olawale Bayole, Emmanuel Benjamin, Omotosho Ayobami, Usman Boluwatife, Adewale Adeniyi, Obadina Olawunmi, Ashiru Abdullahi, Ahmed Mubarak, Idowu Kazeem, Olukoya Emmanuel, Yusuf Lukman. “The suspect also include: Agesin Eniola, Tajudeen Mustapha, Falola Olalekan, Usman Funsh, Bolaji Usman, Ayiyon Naoh, Mohammed Adeoye, Babatunde Seun, Afela Mustapha, Yusuf Habeeb Olanrewaju, Alao Ayomide, Oyeleye Uman Abduljelil Raji, Adeniyi Abdulmojeeb,” he said. He said that they were arrested during sting operations between June 7 and  June 8, following intelligence received by the commission about the activities of some individuals involved in computer-related fraud in some areas of the state. He said that items recovered from the suspects included mobile phones, laptop computers and cars. Uwujaren said that the suspects would  be charged to court after investigations are concluded

FCCPC recommences registration of digital money lenders

Federal Competition & Consumer Protection Commission (FCCPC), has said it is recommencing the registration of digital money lenders in Nigeria. A statement by Executive Vice Chairman/Chief Executive Officer of the Commission, Babatunde Irukera, Friday in Abuja, said the move became necessary as the Commission continues to receive requests for registration, approval or clearance by both then existing platforms that failed to timely comply with the mandatory deadlines. While stating that it is in pursuant to several sections of its Act, the Commission said it would resume the process of collecting both new and old applications which should be duly accompanied with a late processing fee. “On August 18, 2022, the Federal Competition & Consumer Protection Commission (FCCPC) as part of the Joint Regulatory and Enforcement Task Force (JRETF) introduced a Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022 (Guidelines 2022 or “Guidelines”), as well as an associated registration process/platform. “For already existing Digital Money Lenders (DMLS), the Guidelines mandated completion of the registration process by November 14, 2022 in order to remain in business and retain privileges of services by providers such as Google Playstore and payment systems or gateways. On December 6, 2022, the Commission extended that deadline to January 31, 2023; and subsequently to March 27, 2023. “Accordingly, while the JRETF continues the work of developing a more robust, comprehensive and enduring digital lending regulatory framework, the Commission will resume receiving and approving eligible DML applications (new and previously inexistent businesses) and requests (including those already received and pending) under, and in accordance with the Guidelines and existing process,” it said.  Accordingly, FCCPC directed those submitting late applications to include a letter stating reasons for failing to complete registration before the first deadline.   “In addition, these applications (whether already received and pending, or otherwise) shall be subject to a late processing fee. This fee should be paid through the Remita platform under the Approval Fee section. “Financial institutions that are licensees, and subject to the regulatory oversight of the Central Bank of Nigeria (CBN) are exempt, and may obtain the required approval by a written request seeking a waiver by demonstrating such exemption, including evidence of licensure by the CBN. “The Commission and JRETF continue to monitor the market and enforce the law with respect to digital lending. While violations still exist, the Commission notes substantial reduction in practices that violate consumer privacy, constitute harassment and unacceptable unconventional loan repayment/recovery strategies, as well as unexplained charges associated with loans,” the Commission further explained.  The Commission urged Nigerians to continue to report incidences of infringement for appropriate regulatory responses.

DMO bags 3 EMEA awards, recommits to innovative debt strategies

Nigeria’s Debt Management Office (DMO), has renewed its commitment to continue delivering innovative and comprehensive debt management strategies. In a statement signed by DMO’s Director-General Patience Oniha on Friday, the agency’s commitment to the fulfillment of its mandate has placed it on solid footing in the EMEA region and beyond. The DMO received three prestigious EMEA (Europe, Middle East and Africa) Finance Achievement Awards recently in London. While commending EMEA Finance for recognizing the work it was doing, she said the Office’s success has been down to its commitment to provide tailored debt management solutions to Nigeria. “As the DMO celebrates these remarkable achievements, it renews its commitment to continue delivering innovative and comprehensive debt management strategies, further solidifying its standing in the EMEA region and beyond,” she said. She said the awards are a recognition of DMO’s unwavering commitment to implementing effective debt management strategies in the emerging markets region encompassing EMEA. “The awards, bestowed by EMEA Finance, which is renowned in the emerging markets, highlight the outstanding performance of DMO in managing debt and optimising financial resources across diverse markets. “The accolades serve as a validation of the DMO’s tireless efforts in providing innovative solutions to meet the challenges of debt management in the ever-evolving economic climate. “Receiving these accolades mark a significant milestone for DMO, as it solidifies its position as a leading player in the field of debt management within the EMEA region,” she said. The three awards include: “Best Sovereign Borrower”; “Best Sovereign Bond in EMEA”; and “Best Local Currency Bond in EMEA’’.

We’re not currently recruiting, NBS insists

The National Bureau of Statistics (NBS) has said that it is not currently recruiting. In a statement signed by its management, and posted on its website, the statistics bureau said the online publication purporting that it was recruiting was a ploy to mislead Nigerian job seekers.   “The attention of the Management of National Bureau of Statistics has been drawn to an online publication titled “NBS Recruitment 2023/2024 Job Application Form Portal” and hosted on https://recruitmentfile.net/nbs-recruitment/, purporting that the Bureau will soon commence recruitment exercise, and advising prospective candidates on the process for the recruitment. “The general public may wish to note that the publication did not emanate from the Bureau and that the content seeks to mislead unsuspecting jobseekers. It has therefore become imperative to refute the information. “For the avoidance of doubt, the Bureau would like to emphasize unequivocally that it is not currently recruiting. “The general public is strongly advised to be wary of any such job offer, particularly one obtained online, and to report such offers to the appropriate law enforcement organizations without delay,” the statement read.

Subsidy: Finance Commissioners want all accruals put into Federation Account

The Forum of Commissioners for Finance of Nigeria has called on the Federal Government to ensure that all accruals from the removal of fuel subsidy go to the Federation Account. The outgoing Chairman of the Forum, Mr David Olofu made the call at a valedictory session for outgoing State Commissioners for Finance held in Abuja on Friday. Olofu is also the immediate past Commissioner for Finance and Economic Planning, Benue State. While commending President Bola Tinubu on the removal of subsidy, Olofu said, as finance experts, the Forum, like other Nigerians, had long yearned for it. “We will like to sincerely commend the President for having that political will to do that, first day in office. “That is what we had been yearning for. He came, his first day in office, he was able to achieve that which we have always asked for”, Olofu said. On how the President should manage the funds from subsidy, Olofu said that the Constitution provided for all federation revenues to go into the federation account. “Nobody has any authority whatsoever to deduct any amount from federation revenue. “So, I will align myself with the position of the Constitution and recommend that all the accruals go into the federation account and let it be disbursed from the federation account”, he stressed. He said, however, the Federal Government should come up with policies and programmes that could address the challenges Nigerians are currently facing as a result of increase in the pump price of fuel due to the removal of subsidy. “I believe that the President has the capacity and knowledge to be able to do that decisively. “He has already started it by proposing a wage increase for workers but that has to be done alongside with sub-nationals because the sub-nationals have the bulk of civil servants in this country. “I believe he is on track but, apart from the wage increase, we also have to look at issues of infrastructure because we believe strongly that if we can wrap up infrastructure in this country, it will also help to improve the living standard and bring down the cost of living.” Olofu appealed to Nigerians to be patient saying, the long-term benefit of what has been done by the President far outweighs the short-term pains people were going through. For the incoming Chairman of the Forum, Wale Akinterinwa, commended his predecessor, saying that Olofu did a very good work while leading the forum. “He has actually elevated the forum to a much higher level than he met it. Be that as it may I will try to ensure that I continue from where he stopped. “I will continue to sustain the good relationship he has created with all the revenue-generating agencies such as the Ministry of Finance and the Office of the Accountant General of the Federation”, he said. Akinterinwa who is the Commissioner of Finance Ondo State, reiterated that the removal of fuel subsidy was an overdue issue. His words: “I commend the President for having the courage to immediately remove the fuel subsidy as he was sworn. “Well, we are going to feel the pain we are feeling in the short run but in the long run, it is in the best interest of everybody.” Mohammed Shehu, Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), on his part, commended the forum on efforts at taking the issue of the federation account very seriously. “We hope that as the years go by, the agitation on federal might or federal imposition on a lot of things would become a thing of the past. “This is an opportunity for states revenue mobilisation and all other agencies to collaborate in the area of increasing internally generated revenue of states and diversification of the economy”, he said. He also said that the removal of fuel subsidy was good for the economy. Shehu urged states to ensure that the monies that were eventually going to the states should be put to use properly so that “we can run a very good federation and create opportunities for jobs for Nigerians.” Special Guest of honour at the event, the Governor of Jigawa, Umar Namadi tasked the forum to build on the legacy of the outgoing chairman saying that he brought a lot of innovation and professionalism to the organisation. He was a former Commissioner for Finance Jigawa and the immediate past Deputy Governor of the state before becoming the present governor. Shehu said that removal of fuel subsidy was a bold step taken by the President. The event was attended by the Accountant General of the Federation, Mrs Oluwatoyin Madein and representatives of Central Bank of Nigeria (CBN) and Federal Inland Revenue Service (FIRS)

EFCC arrests identical twins, 26 others for internet fraud

The Economic and Financial Crimes Commission (EFCC) has arrested identical twins: Potential and Takwan Peter and 26 others for alleged internet fraud in Calabar, Cross River. This is contained in a statement issued by EFCC Spokesperson, Wilson Uwujaren, on Friday in Abuja. According to him, they were arrested on Tuesday, following credible intelligence linking them with suspected internet-related fraud. ”The other 26 suspects are Takwan Emmanuel, Kelvin Onedu, Evans Edwin, David Osuji, Osang Tony, Confidence Oblech, Uche Chinedu, Gabriel Kanong, Ojong Victor, Ephraim Ikechukwu and Shedrack Mfon. ”Others are Godswill Omini, Walter Opha, Godswill Iti, Moses Sha, Prince Uba, Anyi Bassey, David Disi, Peter Silas, Christian Uche, Chidindu Oforji, Kelvin Anyanwu, Anthony Ojone, Samuel Disi, Gideon Joseph and Ezekiel Francis. ”Preliminary investigations showed that while some of the suspects specialized in love scam, others engaged in fraudulent impersonation and obtaining by false pretense. ”Items recovered from them include, several mobile phones, laptops, five cars and a wifi device,” the anti-graft agency said.

NASS Leadership: NGF endorses APC zoning arrangement

The Nigeria Governors Forum (NGF) has endorsed the zoning arrangement of the All Progressives Congress (APC) for the election of the presiding officers of the 10th National Assembly. Governor Dapo Abiodun of Ogun said this in a statement by Rep. Tajudeen Abbas Campaign Team in Abuja after receiving a delegation of the Joint Task-10th Assembly.Abiodun said that he and his colleagues took the decision after an interactive session with President Bola Tinubu in Abuja. He said that during the meeting, Tinubu sought the support of the governors for the APC candidates to make the election easier for them.“It is within the right of the President to seek those that will make his job easier. He has decided in collaboration with the party that these are the people that he wants to work with. “All of us across party lines keyed into what the President told us. We had our meeting after meeting him and decided that we should support the President,” Abiodun said.

CBN partners UNIUYO on sensitisation of e-naira policy

The Central Bank of Nigeria (CBN) has solicited a partnership with the University of Uyo for the sensitisation of the institution’s staff and students on the usage of e-naira policy in daily business transactions. The Controller of CBN, Uyo Branch, Mrs Mercy Ogbomonpaul, made the call while interacting with the Vice-Chancellor of the University of Uyo, Prof. Nyaudoh Ndaeyo, in Uyo on Thursday. Ogbomonpaul, who was represented by Assistant Director, CBN, Mr Isang Enya, said that the e-naira policy would aid monetary policy decision-making and urged Nigerians to embrace the policy. She said that the sensitisation program was to educate the University community on the system and encourage them to key into it. She said that the e-naira platform had been introduced into the country since 2021 for citizens to embrace for their daily businesses. Ogbomonpaul said Nigeria was the seventh nation to introduce e-naira, adding that other countries had gone beyond the physical cash payment and were now using the e-payment system. “We are here to partner with you on the e-naira; globally, the economy is now going e-payment and not cash payment as it is known in our environment. “The Central Bank in its wisdom, in line with best practices, adopted the e-naira platform. “The e-naira is expected to help us to be in par with what other countries are doing; the unfolding trend now is that we use e-payment rather than the physical cash. According to her,  e-naira is an initiative of the Central Bank that will work at par with the physical cash. Ogbomonpaul said the e-naira could be used in transaction rather than physical cash, adding that the e-naira would help in handling the deficiencies noticed and experienced in the use of cash. She said the e-naira would also help in policy-making in terms of monetary policy decisions as decisions are made based on available information. “If we are all on the e-naira platform, the Central bank would be able to ascertain how much has been transacted in the e-naira platform; “And make policy decisions for our monetary policy in the country,” she said. The branch controller added that the e-naira would make our payment system more viable and bring more people into the system. She said, “It is simple, it is easy, and will allow the government to get its revenues in terms of payment very easily.” Responding, Ndaeyo said the institution was happy to be a part of the initiative and would partner with CBN on the e-naira policy. Ndaeyo said that the university was also willing to partner with the CBN in the area of agriculture. He urged the apex bank to go beyond the shores of the university, into the communities to sensitise people on the e-Naira. The vice-chancellor, however, commended the Central Bank for the introduction of e-naira into the payment system in the country, urging everyone to embrace the system.  The Central Bank of Nigeria (CBN) has solicited a partnership with the University of Uyo for the sensitisation of the institution’s staff and students on the usage of e-naira policy in daily business transactions. The Controller of CBN, Uyo Branch, Mrs Mercy Ogbomonpaul, made the call while interacting with the Vice-Chancellor of the University of Uyo, Prof. Nyaudoh Ndaeyo, in Uyo on Thursday. Ogbomonpaul, who was represented by Assistant Director, CBN, Mr Isang Enya, said that the e-naira policy would aid monetary policy decision-making and urged Nigerians to embrace the policy. She said that the sensitisation program was to educate the University community on the system and encourage them to key into it. She said that the e-naira platform had been introduced into the country since 2021 for citizens to embrace for their daily businesses. Ogbomonpaul said Nigeria was the seventh nation to introduce e-naira, adding that other countries had gone beyond the physical cash payment and were now using the e-payment system. “We are here to partner with you on the e-naira; globally, the economy is now going e-payment and not cash payment as it is known in our environment. “The Central Bank in its wisdom, in line with best practices, adopted the e-naira platform. “The e-naira is expected to help us to be in par with what other countries are doing; the unfolding trend now is that we use e-payment rather than the physical cash. According to her,  e-naira is an initiative of the Central Bank that will work at par with the physical cash. Ogbomonpaul said the e-naira could be used in transaction rather than physical cash, adding that the e-naira would help in handling the deficiencies noticed and experienced in the use of cash. She said the e-naira would also help in policy-making in terms of monetary policy decisions as decisions are made based on available information. “If we are all on the e-naira platform, the Central bank would be able to ascertain how much has been transacted in the e-naira platform; “And make policy decisions for our monetary policy in the country,” she said. The branch controller added that the e-naira would make our payment system more viable and bring more people into the system. She said, “It is simple, it is easy, and will allow the government to get its revenues in terms of payment very easily.” Responding, Ndaeyo said the institution was happy to be a part of the initiative and would partner with CBN on the e-naira policy. Ndaeyo said that the university was also willing to partner with the CBN in the area of agriculture. He urged the apex bank to go beyond the shores of the university, into the communities to sensitise people on the e-Naira. The vice-chancellor, however, commended the Central Bank for the introduction of e-naira into the payment system in the country, urging everyone to embrace the system.