Former Speaker Bright Omokhodion withdraws from APC governorship race
The former Speaker of the Edo State House of Assembly, Rt. Hon. Bright Omokhodion, has officially withdrawn from the race for the governorship on the platform of the All Progressives Congress (APC). Omokhodion, a top-level contender from Edo Central Senatorial District, announced his decision citing gross discontent with the screening committee’s skewed screening process of APC governorship candidates. The withdrawal was made public in a statement personally signed by Omokhodion. His words: “Compatriots, I wish you a blessed season’s best. It has become imperative to inform you that due to my gross discontent with the SKEWED screening process of APC governorship candidates by the screening committee, I am withdrawing from the 2024 Edo Governorship race. “This decision is purely the outcome of consultation with my campaign team; we have jumped many hurdles and impediments in our quest but regrettably reached this decision after a stormy meeting. “I must thank all of you for sharing in my vision and desire for a greater and productive Edo of our dreams. I will in due course advise our followers of the next line of action, while we continue to support the aspirations of my party, APC. “Once again, thank you for keeping the SMILES-VISION project alive.”
APC Council Launches George Akume Foundation
The All Progressives Congress (APC) Professionals Council has launched a foundation for the Secretary to the Government of the Federation, George Akume. The foundation which was established in commemoration of Akume’s 70th birthday anniversary was dedicated to upholding his enduring principles. Seyi Bamigbade, the Director-General, revealed this initiative in Lagos, emphasizing its commitment to championing causes close to the former Benue State governor’s heart. According to Bamigbade, the newly formed foundation aims to uphold Akume’s legacy by focusing on philanthropy and humanitarian endeavors. It intends to empower youth with business grants, extend support to widows and the less privileged, provide scholarships, and distribute educational resources to communities in Benue and the broader North Central region. Bamigbade disclosed the appointment of Prince Ademola Adetokunbo Ade-John as the inaugural chairman of the foundation’s Board of Trustees (BoT). Furthermore, Bamigbade appealed to both philanthropic individuals and donor agencies, urging them to collaborate with the council to improve the well-being of Nigerians in their communities.
Tweaking The CBN Act, NASS Must Tread With Caution
The ongoing effort by the National Assembly to tinker with the Central Bank of Nigeria’s Act, 2007, has been generating heated debate within the polity. The concern has been the rationality of the exercise. This effort is spearheaded by two distinguished Senators, Senators Steve Karimi and Darlington Nwokocha. The bills are – ‘A Bill to Amend the Central Bank of Nigeria Act 2007, and Matters Connected Therein’, and An Act to Amend the Central Bank (establishment) Act 2007 to Make the Central Bank More Transparent and Accountable in its Operations and to Ensure Enhancement of its functions and for Connected Matters’. The crux of the two amendments already consolidated by the Senate is the ban on the CBN governor and his deputies from partisan politics, reconstitution of the CBN Board; subjection of CBN staff remuneration to the Salaries and Wages Commission; and ceding the position of the Board Chairman to a person outside the CBN. Also proposed prohibition of use of foreign currency in local transactions. Until this proposal, the Governor doubles as the Board Chairman. The preoccupation of the sponsors of the bills is to enhance transparency and efficiency of the Central Bank of Nigeria, and to strip its governor of certain powers. The Senate Committee on Banking and Finance is saddled with the responsibility of reviewing and working on these bills for the Senate to take a position. Whatever is the expectation of the sponsors, it is important that the National Assembly does not in a spasm of emotion erode the independence of the Bank. CBN Act 2007 had settled this. It was a common knowledge that the immediate past CBN governors hiatus and unprofessional conduct by engaging in partisan politics may have warranted this quest.His action was an infraction,and antithetical to his oath of office. It was also against the norms of central banking ethics. Anger against a rare singular infraction should not be used as an excuse to cripple a vital organ of government as the CBN. It amounts to throwing the baby away with the bath water. An International Monetary Fund (IMF) working paper titled: The Role of Board Oversight in Central Bank Governance: The Legal Design Issues describe the Central Banks as a public law institution established to fulfill essentially sovereign functions delegated to them by the State. It admitted that certain central bank laws explicitly prohibit certain operations. Continuing, the paper said, for a central bank to be effective, it must enjoy a high level of autonomy vis-à-vis both political institutions and private economic interest. This autonomy it enumerated as: institutional, functional, personal, and financial. Institutionally it said the central bank should not be influenced by the State or private third parties in its decision-making in the context of the performance of its functions, e.g., through ministerial instructions. Functional points to its capability to implement its functions without direct governmental interference, and Personal ensures that key decision makers of the central bank (Governor and members of the Executive Board, Monetary Policy Committee and Oversight Boards) are autonomous from political and private economic interest. The Financial entails the capability of the bank to pursue its mandate by way of the financial means required to do so (the emphasis is mine). Banning the CBN governor and his deputies from partisan politics is a good proposal, and well approved. But to appoint/impose an outsider as the chairman of the board other that its governor is incongruous with global central banking practice. Typical of our clime, as being proposed will not augur well for a critical institution as the CBN. The infraction of its former governor – highly condemned, is not an excuse to deal a fatal blow on the Bank. It amounts to killing a fly with a sledgehammer. Subjecting its staff salaries to an external body violates the financial independence of the Bank. Infractions committed by its former governor have nothing to do with staff welfare. There are other organs of government earning far higher than the CBN staff, yet the legislators turned the blind eye. Why are all eyes on the CBN? Are the Nigeria National Petroleum Plc staff salaries a subject of scrutiny by the National Salaries and Wages Commission, the Debt Management Office (DMO), the Nigeria Deposit Insurance Corporation (NDIC), and many others? It is public knowledge that the staff of some of these agencies earn fantastically higher, (excluding other perks) than CBN staff. The Central Bank of Nigeria like its peers is the heart of the monetary system of the country. Nigeria’s economy is influenced heavily by the actions it takes, thus, any spasm of irrational decisions to alter or whittle what international investors and global partners would see as an erosion of the Bank’s independence, will further hurt the already fragile economy. It Was the Central Bank of Nigeria during the COVID-19 pandemic that ensured the stability of the economy while other organs of government were at a loss on what to do. The CBN should not be politicized. What happened under Godwin Emefiele was a rash decision that should be treated in isolation. Amending the Act is not investor friendly, and it should be jettisoned. It will also encumber the effectiveness of monetary policy, and once the institution is seen as an appendage of the political class, there will be loss of faith, and confidence, in the economy. Ultimately, the economy will suffer for it. Mr. Uche Tochukwu, a financial expert, said tweaking the CBN Act Now because of what happened under Godwin Emefiele will hurt the economy and the integrity of the CBN. He welcomed the decision of the lawmakers to ban the Governor and his deputies from partisan politics but frowned at appointing an outsider as the Bank’s Board Chairman. He said it is an aberration. Tochukwu called the attempt to subject the CBN staff salary to Salaries and Wages Commission as meddlesomeness. What about their own opaquely fatty allowances the public has decried? Doing that, they advised, will kill the morale of the staff. Are we even sure
Tinubu Writes NASS, Seeks Approval For N2.1trn Supplementary Budget
President Bola Ahmed Tinubu has formally written to the House of Representatives, requesting approval for a N2.1 trillion supplementary budget. This development comes shortly after the Federal Executive Council’s unanimous approval on Monday for the allocation of the said budget, aimed at addressing critical concerns such as labour wage adjustments, national security, infrastructure maintenance, and more. The supplementary budget also aligns with the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper, which President Tinubu has submitted to the House of Representatives. During the Federal Executive Council meeting, the Minister of Budget and Economic Planning, Atiku Bagudu, emphasized the urgency of addressing these issues. Notable allocations within the supplementary budget include N210 billion for Wage Award for Civil Servants, N605 billion for National Security and Defence, N300 billion for the maintenance of vital infrastructure like the Eko bridge, N400 billion for cash transfers to vulnerable households, N200 billion for seed and agricultural inputs, and N18 billion for the Independent National Electoral Commission to conduct off-season elections.
Senate President’s Wife Has No Office In National Assembly -Eyiboh
The Special Adviser on Media and Publicity to the Senate President, Mr. Eseme Eyiboh, has debunked reports that an office was created for the wife of the Senate President, Mrs Unoma Akpabio, in the National Assembly. Eyiboh, in a statement on Monday in Abuja, said the story showed that it was essentially designed to malign and disparage the Senate President, Godswill Akpabio. “A story of 20 paragraphs on the creation of an imaginary office for the wife of the Senate President uses three paragraphs on the unfounded issue. “And the remaining 17 paragraphs were used for recitation of unrelated fables and other innuendo. “For emphasis to the unguarded who may be prone to the fake news merchandise, Mrs Ekaette Unoma Akpabio has no office in the National Assembly and there is no intention towards that. “Her only relationship with the National Assembly is that her husband is the President of the Senate and by virtue of that, as with his predecessors, she is president of the Senators’ Wives Association of Nigeria,” Eyiboh said.
Stella Oketete not under our investigation- Code of Conduct Bureau
The Code of Conduct Bureau has denied reports making the rounds in some online media platforms that the Executive Director of NEXIM Bank, Stella Erhuvwu Oketete is under investigation by the Bureau. In a statement signed by the Director Investigation and Monitoring, Gwimi S.P. on behalf of the Chairman of the Bureau, and made available to the media, he noted that the information did not in any way emanate from their office, and as such, advised the general public to disregard the information. “The attention of the Code of Conduct Bureau, (CCB) has been drawn to the nefarious and deceptive letter with Ref No. CCB/HQ/11&M/NB/099 dated 21st March 2023 purported to have emanated from the Bureau on the above-named Public Officer being investigated by the Bureau in an online media, particularly published by the Sahara Reporters on the 29th July 2023. “The Code of Conduct Bureau wishes to state clearly that it has no hand in the information in circulation, as such the general public should disregard the letter and it’s content,” the statement said. NIGERIAN ANCHOR had reported that an Abuja-based human rights lawyer, Oladotun Hassan, asked the Nigerian Senate to disqualify one of the ministerial nominees, Stella Okotete, over allegations of corruption. Read more.. Similarly, the Nigeria Police Force also ordered a discreet investigation of Okotete over alleged falsification of documents and monumental fraud. The human rights lawyer ordered a proper investigation over the alleged use of various front companies as proxies to defraud banks of billions of naira and dollars. The petition called for a reversal of Okotete’s appointment, stating that she was not qualified to hold such a position. “Predicated upon our demand for the independent and conscientious thorough background investigation and profiling of the culprit’s academic credentials and sequence of events as stated in her unsubstantiated and ridiculously padded CV as follows: “To investigate her academic profile as regards her school’s records of exams, school fees payments and NYSC certificate, as well allowance payments during years of service. “To investigate her disqualification by the Senate and her noncompliance to Senate resolution and ruling is highly contemptuous and disobedience to the constituted authority of Senate,” the petition partly read. The Nigeria Police Force investigation order followed a petition by Barrister Aare Oladotun Hassan Esq of Juryman Associate Chambers against the ministerial nominee to the Inspector General of Police, Kayode Egbetokun, over alleged falsification of documents, fraudulent misrepresentation of qualification to hold Central Bank of Nigeria (CBN’s) statutory position, corrupt practice, monumental fraud and misappropriation. The lawyer in had in April, written a petition to the National Assembly through Akinyelure, the Chairman, Senate Committee on Ethics, Privileges and Public Petition to look into the issue of the Executive Director of Nexim Bank.
Fuel Subsidy: Senate urges NLC to shelve planned strike
The Nigerian Senate has appealed to the Nigeria Labour Congress (NLC) to shelve its impending strike on fuel subsidy removal and continue negotiation with the Federal Government. Senate resolution followed the consideration and adoption of a motion at plenary on Monday. The motion titled: ”Urgent Need to Avert the Intending Strike of the Nigeria Labour Congress”, was sponsored by Sen. Kawu Suleiman (NNPP-Kano). Suleiman in his lead debate said the NLC has given the Federal Government a seven-day ultimatum to reverse what the union termed as “anti-poor policies” or face an indefinite nationwide strike from August 2nd. He said the NLC had directed all its affiliates and state councils to immediately begin mobilisation of workers and other Nigerians, including civil society allies for a long-lasting strike and mass protests. Suleiman said the labour, in a statement signed by its National President, Joe Ajaero, alleged that the Federal Government had failed to meet up with the demands it presented to it following subsidy removal on petrol. Not meeting the demand as stated in the statement could cause an astronomical rise in price of the commodity. He expressed worry that the strike would cripple the country as commercial transport operators would withdraw their services, while markets, schools and healthcare facilities would be forced to shut down. According to him, the action could heat up the polity when it occurred, saying that gains from the strike were far below the costs to either of the parties in conflict. The senator said the strike threat by the NLC, if not averted, could plunge Nigeria into deeper economic woes, dislocate businesses, hunger, and frustration. Suleiman said more hardship would lead to unquantifiable financial losses and reduce Nigeria’s Gross Domestic Product (GDP). He said the NLC proposed strike was a bad reputation for Nigerian economy and the educational system, saying that it portrayed the country in a bad light to the external world According to him, it discourages foreigners from coming to do business or study in Nigeria. The senator said that the society always bears the brunt of strikes, adding that an idle mind was the devil’s workshop. He said there was a tendency for an increase in crime rate, social vices like armed robbery, oil bunkering, prostitution, cyber scams, among others, if the strike was allowed to hold. Following support of senators on the motion, Senate accordingly resolved to mandate its leadership to interface between the NLC and the Federal Government to avert the intending strike.
Judgement Debts: Buhari seeks Senate’s approval to pay N226bn, $556.8m, £98.5m
President Muhammadu Buhari has sought the approval of the Senate to issue a promissory note for the payment of $566,754,584.31, £98,526,012.00, and N226, 281, 801, 881.64 judgement debts owed by the Federal Government. Buhari’s request was contained in a letter addressed to Senate President, Ahmed Lawan and read at plenary on Wednesday. Buhari in the letter said: “Distinguished Senate President, you may wish to be informed that the Federal Executive Council (FEC) at its meeting of March 29, 2023, approved the liquidations of top priority judgment debts and general debts owed by Ministries, Departments and Agencies (MDAs) through the issuance of promissory notes. “The judgment debts are to be settled through the issuance of promissory notes which will then be redeemed over time through provisions in the budgets of the Federal Government of Nigeria. “Thus debt securities have been issued for the settlement of the judgment debts and approval of the National Assembly is required for this purpose. “In view of the foregoing, I wish to request the Senate to kindly consider and approve through its resolution the settlement of the top priority debts incurred by Federal MDAs in the sum of 566,754,584.31 dollars, 98,526,012.00 Pounds and N226,281,801,881.64 through the issuance of promissory notes. “The Honourable Attorney-General of the Federation and Minister of Justice and the Honourable Minister of Finance, Budget and National Planning shall provide any information that may be required by the Senate for the consideration of this request.” Senate also at plenary passed for first reading five bills. The bills include Federal Medical Centres Act Amendment Bill 2023 sponsored by Sen.Gobir Ibrahim (APC- Sokoto), Federal Teaching Hospital, Markurdi, Benue State Establishment Bill, 2023 by Sen.Gobir Ibrahim (APC- Sokoto), Others are Central Bank of Nigeria (CBN) Act Amendment Bill, 2023 by Senator Gobir Ibrahim (APC- Sokoto), and Federal University of Petroleum Technology, Ohaji-Egbema Establishment Bill, 2023 by Senator Rochas Okorocha.
US to impose travel ban on people undermining Nigeria’s democracy
The United States has moved to impose visa restrictions on several individuals for allegedly undermining the democratic process in Nigeria, U.S. Secretary of State Antony Blinken has said. “Today, I am announcing that we have taken steps to impose visa restrictions on specific individuals in Nigeria for undermining the democratic process during Nigeria’s 2023 elections cycle,” Blinken said in a statement. “These actions are specific to certain individuals and are not directed at the Nigerian people or the government of Nigeria as a whole,” he added. Blinken did not identify the individuals who were sanctioned but emphasised that they would be barred from entering the United States under a policy covering those believed to be responsible for, or complicit in, undermining democracy. “These individuals have been involved in the intimidation of voters through threats and physical violence, the manipulation of vote results, and other activity that undermines Nigeria’s democratic process,” he said. Washington took steps to impose these visa restrictions in order to show its commitment to democracy in Nigeria, he added.
Guinness World Record: Lawmaker commends Chef Baci
A female House of Representatives member, Tolulope Akande-Sadipe, has commended Hilda Bassey, popularly known as Hilda Baci, a Nigerian chef, who has set her eyes on breaking Guinness World Record of longest cooking time. Bassey targets 93 hours cooking marathon after spending over 83 hours showcasing her culinary skills before a live audience. Akande-Sadipe, a federal lawmaker representing Oluyole Federal Constituency in Oyo State, took to her social media handles to cheer the “foodpreneur“ and actress, describing her as a brave champion. Akande-Sadipe, showcasing her unwavering support for the brave chef, said her determination and incredible endurance was a testament to the remarkable strength and resilience that women possess. “You have become a shining example of what women are truly capable of achieving. “Your dedication to this extraordinary challenge inspires us all and reminds us that there are no limits to what we can accomplish when we set our minds to it. “Your commitment to pushing boundaries and surpassing expectations is truly commendable”, she said. Akande-Sadipe urged women to continue cheering Bassey and wish her success. “I take this moment of Bassey’s determination to encourage every woman out there to celebrate and uplift her pursuit of this world record”. “Let us join together in recognising her remarkable achievements and the milestones she has already conquered. “Bassey’s journey is not only about breaking records but also about empowering women across the globe, showcasing our talents, prowess, strength and resilience,’’Akande-Sadipe said. She affirmed her support for Bassey, saying she was proud to see a woman making significant impact in the society. “As a woman myself and in my capacity as a member of parliament and the chairman of the House Committee on Diaspora, I stand firmly behind you. “I am proud to see a fellow Nigerian woman making such a significant impact. Your determination serves as an inspiration to countless others, demonstrating that with dedication and perseverance, dreams become reality. “Know that my thoughts and prayers are with you every step of the way as you continue this incredible feat. “ May your spirit remain strong, and may you find renewed energy during your well-deserved six-hour break”, she said. She expressed hopes that the chef will make more history and achieve her dream of setting a new Guinness record. “Once again, I celebrate you, Bassey. Your journey is a beacon of hope and empowerment for women everywhere. Keep pushing boundaries, inspiring others, and reminding the world of the incredible power we possess”.