Author: The Nation

  • We did 90-km of roads in one year, says Osun Govt

    We did 90-km of roads in one year, says Osun Govt

    • Governor in Thailand

    Osun State Commissioner for Information, Kola Alimi, has said the government has built 90-km of roads in one year.

    He was briefing reporters yesterday in Osogbo, the capital.

    The commissioner said the government reconstructed 90 kilometres of road,

    adding that 31 schools “has been fully rehabilitated.”

    At the briefing with Alimi are spokesperson for the governor, Olawale Rasheed; Commissioner for Water Resources, Sunday Oroniyi; Commissioner for Political Affairs and Intergovernmental Relations, Biyi Odunlade; Commissioner for Home Affairs, Rasheed Aderibigbe; Commissioner for ICT & Digital Economy, Maruf Ayofe; Special Adviser Public Enlightenment, Eniola Odeniyi and Special Adviser Transport, Moshood Yakubu.

    The governor’s absence in the state and country in the last three weeks has, however, made the citizens to speculate about his whereabouts.

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    Many people in the state believed he was in the United States on medical vacation.

    But speaking on a local radio station yesterday, he said he was in Thailand, holidaying.

    Governor Adeleke told Rave FM in Osogbo during a current affairs programme, Frank Talk, that he is in Thailand on vacation.

    He berated the allegation that he went for surgery, explaining that “I am on vacation and I also went to woo investors into the state. When I return, Osun people will see the result of my travelling.

    “I have governed the state with the fear of God and the rule of law. I am very empathic about the plight of the people. This is why my government is people-oriented, unlike the bad way the previous government treated our people. Osun people should expect more from my government.”

  • Union Bank delists shares from stock market

    Union Bank delists shares from stock market

    • 53-years listing ends

    Union Bank of Nigeria (UBN) Plc yesterday delisted its shares from the Nigerian stock market to complete a process of reversion to a private limited liability company, ending more than five decades of trading at the stock market.

    A circular obtained by The Nation yesterday indicated that the entire issued share capital of UBN was delisted from the Nigerian Exchange (NGX). The delisting of the 54-year old first generation bank reduced the market capitalisation of the NGX by N193.65 billion.

    Incorporated in May 1969, UBN, one of the oldest listed companies on the NGX, was listed in January 1970 and it has been one of the active stocks in the highly influential banking sub-sector. The banking sub-sector is the most influential group at the stock market, in terms of key indicators of capitalisation and activity.

    The circular indicated that the delisting of UBN from the Daily Official List of the NGX, the official record of all listed companies and securities at Nigeria’s main exchange, followed the “approval of the bank’s application to delist its entire issued share capital” from the NGX.

    The delisting signaled the completion of a takeover bid for minority shares by the new majority shareholder of the bank. Minority shareholders were paid N7.70 per share as a final price for every share held, estimating the exit value of the bank at N224.23 billion.

    The board of the bank had earlier indicated that the Registrars would remit the scheme consideration of N7.70 per share to all shareholders of the bank, pursuant to the decision of the court-ordered meeting and the subsequent sanction by the Federal High Court.

    The delisting followed the acquisition of the shares held by minority shareholders by Titan Trust Bank Limited, the new majority core investor in the bank.

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    Titan Trust Bank had in May 2022 completed the acquisition of the shares of UBN’s major shareholders, including Union Global Partners Limited (UGPL), Atlas Mara Limited (ATMA), Standard Chartered Bank (SCB), Montane Partners West Africa Limited (Montane) and Mr. Emeka Emuwa, resulting in a transfer of 93.41 per cent of Union Bank’s issued share capital to Titan Trust. UGPL and ATMA had taken over the first generation bank in 2012.

    Shareholders decried the delisting of the old generation bank, calling for concerted efforts to encourage listing and keep companies listed.

    National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Mr. Moses Igbrude, said the exit of companies from the exchange is something that is giving minority shareholders a cause to be worried.

    According to him, the government should make favourable policies that should encourage companies to be quoted on the exchange.

    “To protect the minority shareholders from being short-changed and to be sure the exit price won’t be manipulated against the minority shareholders, I will suggest that an independent body be set up by the Court or Securities and Exchange Commission (SEC) to midwife or supervise the exit of any company from the exchange, Apart from the buyer not voting in the resolution, they should not be party or be involved in  determining the exit price as well as the process of exiting the exchange,” Igbrude said.

    He said some delisting might not be unconnected with attempts to shy away from public scrutiny as private companies are not required to submit their accounts like public companies.

    “Not until the government recognises the importance of ethics and rule of law, and encourages every one to play according to the rules within the economy, the delisting will continue,” Igbrude said.

  • Tinubu appoints Akinyelure, Kyari, Mitee into NNPCL Board

    Tinubu appoints Akinyelure, Kyari, Mitee into NNPCL Board

    President Bola Tinubu, yesterday appointed a new Board and Management team for the Nigerian National Petroleum Company Limited (NNPCL), consisting of nine members.

    The new Board and Management team has Chief Pius Akinyelure as non-Executive Chairman, with Mallam Mele Kyari retaining his position as Group Chief Executive Officer (GCEO), Alhaji Umar Isa Ajiya returning as Chief Financial Officer and Mr. Ledum Mitee as Non-Executive Director.

    In a statement issued by his Special Adviser on Media and Publicity, Ajuri Ngelale,  Tinubu also appointed Permanent Secretaries for Federal Ministry of Finance and the Federal Ministry of Petroleum Resources.

    “In compliance with Section 59 (2) of the Petroleum Industry Act, 2021, President Bola Tinubu has approved the appointment of a new Board and Management team for the Nigerian National Petroleum Company Limited (NNPCL) with effect from December 1, 2023:

    “Chief Pius Akinyelure — Non-Executive Board Chairman; Mallam Mele Kolo Kyari — Group Chief Executive Officer; Alhaji Umar Isa Ajiya — Chief Financial Officer;  Mr. Ledum Mitee — Non-Executive Director;  Mr. Musa Tumsa — Non-Executive Director; Mr. Ghali Muhammad — Non-Executive Director;  Prof. Mustapha Aliyu — Non-Executive Director; Mr. David Ogbodo — Non-Executive Director; and Ms. Eunice Thomas — Non-Executive Director.

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    “Furthermore, President Tinubu approved the appointment of two Permanent Secretaries: Mr. Okokon Ekanem Udo — Permanent Secretary, Federal Ministry of Finance; and Amb. Gabriel Aduda — Permanent Secretary, Federal Ministry of Petroleum Resources”

    “President Tinubu anticipates the fullest measure of compliance with the performance-driven and results-oriented mandate of his Renewed Hope administration in the implementation of energy policy that will monetize all available oil and gas resources of today while paving the way for the total exploitation of new and cleaner energy sources of tomorrow by this distinguished team”, the statement said.

  • LCCI, CIBN, Capital Market operators back bank recapitalisation

    LCCI, CIBN, Capital Market operators back bank recapitalisation

    • Urge CBN to tame inflation

    The planned recapitalisation of banks has  received the nod of the Lagos Chambers of Commerce (LCCI), the leadership of the CIBN and Capital Market operators.

    The LCCI praised the apex bank’s move to review the minimum capital base of banks due to consistent devaluation of the Naira that has eroded the capital base of banks. 

    In a statement yestesday, its Director-General, Dr. Chinyere Almona said the planned recapitalization will attract significant investment into banks as well as increase the capacity of banks to provide the required support for the economy.

    She however, cautioned the CBN to strengthen its banking supervision to avoid “Too big to fail” banks, saying

    NIGERIAN banks are well-positioned to meet the Central Bank of Nigeria (CBN’s) directive to increase their capital base.

    President of the Chartered Institute of Bankers of Nigeria (CIBN) Mr. Ken Opara, ALSO gave the assurance of the readiness of the banks’ readiness for the recapitalisation move of the CBN.

    He spoke in Abuja yesterday at the 22nd National Seminar on Banking and Allied Matters for Judges.

     Opara highlighted the banks’ readiness and capability to raise the necessary funds through various means, including bond issuance and capital raising from the stock market.

    Despite the significant capital requirement of $1 trillion, Opara insisted that the banking industry has the financial strength and experience to successfully achieve the recapitalisation goal.

    He pointed to the banks’ track record of exceeding previous capital base requirements and the depth of the Nigerian stock exchange as evidence of their ability to raise the necessary funds.

    Also the National-Coordinator, Independent Shareholders Association of Nigeria, Moses Igbrude projected that the proposed recapitalisation policy would stimulate the financial sector and capital market.

     He advised players to apply the lessons learned from the previous recapitalisation to evade drawbacks.

    He said: “To enhance its effectiveness, there’s a need for players to use lessons learnt from the last recapitalisation in order to avoid the pitfall of the last exercise.

    Opara emphasised that the recapitalisation process is ongoing and that the banks are actively engaged in preparing for the increased capital requirements. He assured that the banks will be ready to comply with the CBN’s directive whenever the specific amount is announced.

    According to Opara, “$1trillion is something that is very important, it’s achievable because already there has been different capital raising process, you will also see that banks have raised bonds as much as possible and have repaid those bonds when they mature.

    It’s not a difficult thing to be bothered about funding $1 trillion, I think the major thing is that the industry is deep, they have deep pockets, they have the financial strength.

    LCCI also urged the Central Bank of Nigeria (CBN) to adopt the right policy mix to control high inflation and ensure the stability of the exchange rate in order to support growth and job creation.

    Its Director-General, Dr. Chinyere Almona said interest rates and unstable exchange rates have taken a toll on businesses and households. She stated this while responding to the CBN Governor‘s statement at the CIBN’s 58th Annual Bankers Dinner and the Grand Finale of the Institute’s 60th Anniversary.

    Almona said though the CBN boss seems to be on the right track , the Chamber is concerned about the state of the economy, particularly the volatile foreign exchange situation, high inflation, and general uncertainty.

     She said: “Over the years, the Chamber has consistently expressed concerns about the implications of high inflation, high interest rate and unstable exchange rates on businesses and households. We are aware of the enormous challenges and the uphill task before the CBN in ensuring macroeconomic stability and restoring investors’ confidence. However, we note the inconsistencies between the Federal Government’s vision of achieving a $1 trillion economy in the next six years and the medium-term expenditure framework (MTEF).”

    Almona lamented that the macroeconomic projections in the MTEF which stated that the economy will grow by 3.76 per cent, 4.22 per cent and 4.78per cent in 2024, 2025, and 2026, respectively may not happen as the projected growths are sub-optimal to achieve a $1 trillion GDP by 2029, which implies an average growth of 21 per cent over the next six years.

         “The stock exchange where they are going to go to the market to raise this is also quite deep, the stock exchange for instance is the second biggest stock exchange market in Africa, that tells you clearly that it is a deep market and we have the ability to raise funds that will fund that project as much as possible so we are very prepared,” he said.

        The CIBN president identified four major challenges giving Nigerian bankers sleepless nights. Specifically, he bemoaned the unlawful harassment of bank officials by the Economic and Financial Crimes Commission (EFCC) among other challenges.

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        With regards to the issuance of Bankers Orders by magistrate courts, the CIBN President noted that magistrate courts were fond of issuing Bankers Orders, which are orders to freeze bank accounts, without proper legal authority. These orders he said are often issued based on a non-existent or repealed law, and they cause hardship for banks, who are open to litigation from their customers if they comply with the orders. He then called on the “Chief Magistrate Court to intervene and ensure that Bankers Orders are only issued by the High Court”.

        Opara lamented that EFCC officials were always storming banks and demanding that they place Post No Debits (PNDs) on customers’ accounts without an order of court. “This is a violation of the legal provisions on confidentiality of bank accounts. When banks demand an order of court, EFCC officials harass and intimidate bank officials and, in some cases, arrest them. Banks are calling for EFCC to be held accountable for their reckless actions, in order to curb the abuse of power” he said.

        Opara also frowned at what he called “inappropriate deployment of garnishee”. According to him, “judgment creditors are often proceeding against all banks as garnishees, without first verifying the indebtedness of the bank to the judgment debtor. This practice imposes unreasonable costs on banks, who are forced to pay legal fees even if they do not have the judgment debtor’s funded account. In some cases, banks do not receive summons from the court for the hearing, and the court may proceed to issue a garnishee absolute judgment on the bank”. He then called on the judiciary to address this long-standing problem in order to protect depositors’ funds.

        The CIBN president noted that cybersecurity incidents are on the rise across the continent, and the financial sector is especially susceptible to cyber-attacks. “The CBN is taking steps to address this issue, but the judiciary also needs to play a role.

        “Banks are calling for the judiciary to collaborate with relevant bodies to develop a structure and build capacity to adjudicate on cybercrime cases in Nigeria”.

        CBN Governor, Mr. Yemi Cardoso who was represented by Mr. Kofo Salam- Alada noted that a robust and efficient judicial system acts as a magnet for Foreign Direct Investment (FDI), as investors seek stable and predictable environments where their business interests can be protected and disputes can be resolved fairly and expeditiously.

        This FDI influx he said “strengthens a nation’s foreign reserves, moderates inflation, and stabilizes exchange rates, paving the way for sustainable economic growth and price stability”.

        According to the CBN Governor, “whilst the judiciary does not actively participate in the formulation and implementation of policies geared towards economic development, its role in interpreting and pronouncing on these policies when they are brought before the Courts for adjudication is indicative of the judiciary’s indirect involvement in monetary and economic policy formulation and implementation.

         “Thus, the Judiciary invariably contributes to the effectiveness of monetary policy, financial system stability, economic growth and development through their interpretation of statutes and sometimes giving effect to the acts of the government and its agencies, where such statutes and acts relate to monetary policy, financial system stability, growth and development”.

  • Nigeria Air project for review, says Aviation Minister

    Nigeria Air project for review, says Aviation Minister

    The Federal Government is not in a hurry to start off the controversial Nigeria Air as a national carrier, Aviation & Aerospace Development Minister, Festus Keyamo, said yesterday.

    Some details of the contractual agreement with the private investors – Ethiopia Airline, will be reviewed, Keyamo said.

    He was responding to queries on the status of the airliner during the post-Federal Executive Council (FEC) meeting’s briefing at the State House, Abuja.

    The minister said the fate of the national career will be determined by President Bola Ahmed Tinubu, adding that he would not be preempted.

    Nigeria Air was founded in 2018 with ownership stakes shared among Ethiopian Airlines (49%), Nigeria Sovereign Investment Authority (NSIA) (46%) and the Federal Government (5%).

    Although the company, was unveiled on May 26 with a branded Boeing 737-800, it has remained a dormant airliner ever since, raising dusts about its status.

    Providing a clue to the state of the airline, Keyamo revealed that some of the details of the agreement signed with the major stakeholder in the deal, the Ethiopian Airlines, rather required another critical look, in the interest of the nation, citing waiver granted and the staffing arrangements.

    He said it would be irresponsible of him, as minister, to see the concerns raised by all stakeholders and close his ears, adding that he had done his evaluation of the situation and had passed his observation over to the President, whom he said, would determine the next line of action.

    On what to expect from the suspended Air Nigeria project, Keyamo explained that the project, if allowed to carry on the way the agreement was structured, will create monopoly for Ethiopian Air, at the expense of other local airliners.

    He further explained that the agreement had agreed to cede appointment of employees at all levels to the Ethiopian investors, a situation he lamented.

    “I have deliberately not granted a full press interview, I have heard all kinds of things going on, all kinds of brickbats in the social media, but I cannot preempt my President. I cannot. All the documents, all the reports, everything, we have forwarded to Mr. President, the issues we’ve met on the ground.

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    Keyamo said: “But just to say that it would have been irresponsible of me as minister to take over office and I feel the pulse of Nigerians, even the National Assembly raised concerns over that, and so many stakeholders.

    “It would have been responsible to close my eyes totally to those concerns. So because of that we suspended it, to say that let’s just look at all the issues and recommend.

    “Now we have looked at all the issues and it’s before Mr. President. But let me just give one or two snippets because of Nigerians who are quick to judge.

    “In the agreement, you are giving tax waivers to Ethiopian Airline coming into Nigeria. They asked for tax waivers for five years and you granted them, to come and compete with your local airline who are paying those heavy taxes. How? You want to create a monopoly? That’s why when they tell you that we want to crash price by… it’s a lie. It’s robbing Peter to pay Paul.

    “Because they have removed all taxes from you and you’ve granted them tax waivers, initially they will crash prices, but once you’ve driven every other person out of the market, you’ll now have a monopoly, then you can now hike it 500%, nobody dares to challenge you.

    “The only thing that brings down prices in the commercial world is fair competition. In the agreement they also made a proposal that they will appoint everybody; top management, everybody Ethiopian, in Nigeria, and we agreed. We agreed.

    “I’m just giving you snippets. I’ll do a full interview, I’ll not give more. So when I’m ready to talk I will talk, but I cannot preempt Mr. President. We have raised all the concerns before him”, he said.

  • Our courts should be trusted at home and abroad

    Our courts should be trusted at home and abroad

    • By: Olukayode Ariwoola

    The 2022/2023 legal year which ended on Friday, the 21st day of July, 2023, was robustly adventurous in all ramifications. Even though it presented some visible rough edges, the new legal year has yet, offered us the privileged opportunity to diligently smoothen all the unwieldy terrains and fine-tune everything that may impede a hitch-free progress. I must say with great pride and excitement that during the outgone legal year, we experienced so many positive heart-warming developments in the Nigerian Judiciary. In response to the yearning need for the injection of fresh blood into the nation’s judicial service, we were able to appoint and subsequently swear-in 23 new Judges of the Federal High Court on Wednesday, the 4th day of October, 2023. In the same vein, on Wednesday, the 20th day of September, 2023, Nine Justices of the Court of Appeal were inaugurated to strengthen the seamless dispensation of justice at the appellate level of adjudication in the country. What has been pending for a very long time; even long before I assumed office in June, 2022, is the appointment of Justices to fill the many vacancies that have been created as a result of deaths and retirements of our brother Justices. For the first time in the history of the Supreme Court, eight Honourable Justices were sworn-in to fill the positions vacated by our esteemed colleagues who retired; as well as enlarging the profile of our judicial strength by increasing the number of Justices to an all-time high number of 20 in November, 2020. That, indeed, was first of its kind in our history. If for anything, that interesting development has, to a large extent, increased our adjudicatory capacity and reduced the number of nights we stayed awake as a result of workload. That in itself was a cherry news to the retinue of appellants that throng the Court on a regular basis.

    However, that joyful moment soon paled into lamentation and intense complaints of some sorts from various quarters, as the trend experienced a sudden reversal, owing to the un-fanciful gale of retirement that soon hit the Court, which has, for the very first time in a very long while, brought the number of our Honourable Justices to an all-time low of just 10 Justices. Efforts were made by my predecessor to increase the number but that was unsuccessful before he left office. However, the cherry news is that as soon as I assumed office on the 27th day of June, 2022, I immediately got down to work on this urgent and immediate need in particular. Though we have not gotten them on board yet, I can convincingly assure the litigant public that within a very short while, the Supreme Court of Nigeria will, for the very first time in its history, get the Constitutionally-prescribed full complement of 21 Justices. That is one of the legacies I have been working assiduously to leave behind as it now seems that the Court has been somewhat ‘jinxed’ from meeting its Constitutional requirement since that piece of legislation was enacted several years ago.

    As we adapt the Courts to stand ready for the future, we must not, in any way whatsoever, neglect the fundamentals that underpin the strength of our jurisdiction. Our Courts should be trusted at home and abroad for the high level of respect for the rule of law and the institutional and personal independence of our judiciary. That ought to serve as a major factor in the attraction of this country as a destination for investment and its reliability as an international partner  spheres of human endeavour. We actually expected the independence of the judiciary to be given adequate statutory protection, not just at the Federal level alone but equally at the State level, so that they could be seen to be truly and genuinely independent  ramifications. The rule of law, with all its well understood facets, has been highly questionable since the advent of democratic governance in 1999. It is noteworthy that reputation can take a long time to establish but can be dissolved and completely destroyed in an instant, sometimes, inadvertently, though.

    The rule of law and the holistic independence of the judiciary should always be cherished by all. As the Chief Justice of Nigeria, I will do everything within my ability to make it remain part of my responsibility to nourish. The Judiciary, as it is today, is more deserving of public trust and confidence than ever before; and we are poised to reposition it for effective justice delivery to make our beloved country a destination of note in the observance of the rule of law and tenets of Constitutionalism. Nigeria must move forward in all spheres of life; and we must collectively evolve a society where things must be done right to get the right environment for every right thing to thrive rightly for our collective good.

    The countries which, we, today find leading the comity of nations had long ago shattered the shackles that kept them halted and prevented innovation. There is no gainsaying the fact that research and development are the tools that keep us moving with the pace of the world. If we do not grab on to these essential ingredients of development, we will perpetually lag behind the world. It is yet an unassailable fact that those who remain intransigent to change and improvement never achieve anything meaningful. I have always remained an ardent believer in continuous improvement. As iron had to bear the rigours of fire and hammer before turning into steel, humans need to step outside of their comfort zone to chisel away the dust of lethargy that they gather with time, from their persons.

    The Nigerian Judiciary, over the years, has strove assiduously to carve a reputation for great integrity and independence which will ultimately embolden us to act without fear of intimidation or harassment from the other arms of government. We, the members of the judicial hierarchy have, undoubtedly, inherited a legacy of dedicated collective endeavour by the Bench and the Bar by painstakingly establishing an unbroken tradition of high efficiency, perfect integrity and fearless independence. Let me state it clearly here that the true touch-stone for measuring the success of a Judicial Institution is the degree of confidence reposed in it by the public. It is a solemn pledge that we, as a judicial body, are making at this occasion that we are definitely going to work more assiduously and tirelessly to make our country earn for itself the fullest respect and confidence of both the citizens and the international community. It is germane at this juncture, to reiterate the obvious fact that the judiciary has a special role to play in the task of achieving socio-economic goals enshrined in the Constitution. While maintaining their aloofness and independence, the Judges also have to be fully aware of the social changes in the task of achieving socio-economic justice for the people of our dear country against all odds. I therefore, advise all Judicial Officers serving in our jurisdiction to make books their armour and hard work their armaments to confront the headwinds of ignorance, conservatism and stagnation. It is imperative to know that the world we are, only remembers those who lead from the front and set trends for others to emulate. So, you should never be afraid of setting sails through unchartered territories, provided your knowledge is adequate and your skills are equally well tested. 

    I wish to reiterate unequivocally that integrity is an essential quality of a Judicial Officer; and he must, as a matter of necessity, exhibit the standards of integrity, morality, and good behaviour which he sets for others. In a situation where a Judge decides a case wrongly out of motives, it shakes the faith of the litigant public; and by extension, the whole society. Such a Judge, who does not maintain highest standard of integrity, has no right to continue to occupy the Chair as a Judicial Officer. In the same vein, if a Judicial Officer is found to be corrupt, then, he cannot be allowed to hold such a divine Chair of a Judge. It was Socrates, the great Greek Philosopher, who stated, in clear terms, that four things improve a great Judge. These are: “to hear courteously; to answer wisely; to consider soberly; and to decide impartially.”

    It has been rightly asserted that Judicial Officers, by the nature of their calling, discharge divine functions even though they themselves, as mere mortals, are not divine. I am very much convinced that Judicial Officers at the various hierarchy of Courts in Nigeria are discharging their judicial functions in a befitting manner; but as the Chief Justice of Nigeria, I still strongly desire from all Judicial Officers across Courts to lead a disciplined and principled lifestyle that will enhance their trust and integrity quotient. Judges owe the society a great duty of always deciding cases without fear or favour, affection or ill will, friend or foe. For the umpteenth time, I wish to honestly assure all judicial officers that if you are discharging your functions as an upright judicial officer by genuinely following the norms, then you have no cause to be afraid or feel intimidated by the often frivolous complaints or vitriolic attacks made by persons having vested interest.

    However, I expect every judicial officer to work very hard and also be very honest and courteous to the litigants, witnesses and members of the Bar, and discharge all your judicial functions with all the humility at your command. Even while doing this, it is still necessary to have at the back of your minds that public opinions, sentiments or emotions can never take the place of the law in deciding the cases that come before you. The law remains the law, no matter whose interest is involved. In all we do, as interpreters of the law, we should endeavour to severe the strings of emotion from logic and assumption from fact. We should never be overwhelmed by the actions or loud voices of the mob or crowd and now begin to confuse law with sentiment or something else in deciding our cases. Nevertheless, unnecessary and unwarranted utterances are bound to embarrass not only others, but the Judge himself; thus what should be asked, should be asked, and what should not be asked, should be avoided. I admonish our Judges to, as usual, receive what is tendered in Court and eschew what is against the Law and facts after thorough analysis and assimilation both in and out of Court, which exercise is, of course, part of Judgeship.

    The Caesar’s wife must be above board! Your image and reputation both inside and outside the Court must be pristine and crystal clear to all and sundry. Like I said earlier, be bold in all your judgments by deciding cases without fear or favour, because fear and favour come in many hues and colours. For instance, fear of one’s own past, of peer pressure, of public criticism, etc. Like some people often misconstrue, favour does not only come in monetary term, but also through nepotism, personal bias and prejudices. We should all know that if the faith of the people is to be maintained in the Judiciary, then the river of judicial process has to be kept pure. On that basis, we must eschew fear and favour at all cost. If the people think your judgment is biased, is tainted, is partial, they would doubt the judicial process and the river of justice will stand contaminated. No doubt about that!

    Therefore, it is our solemn responsibility to keep the river clean at all times. Needless to say that impartiality is the hallmark of a Judge. So, I admonish all of us to always be impartial in all our judgments. I am saying all these now because I will never have this great privilege and opportunity to address the galaxies of legal luminaries, judicial icons and distinguished personalities in the justice sector of our dear nation in another legal year of the Supreme Court as Chief Justice of Nigeria in my entire lifetime again.

    The Corruption and Financial Crime Cases Trial Monitoring Committee (COTRIMCO) was inaugurated in 2018 by the former Chief Justice of Nigeria, Hon. Justice W.S.A Onnoghen, GCON, with the sole aim of fast-tracking the trial of corruption and financial related crimes in the country. The Committee, which is headed by a retired Justice of the Supreme Court, Hon. Justice Suleiman Galadima, CFR, has been working assiduously with various heads of Courts, to ensure that there is a remarkable rise in the dispensation of corruption and financial crime cases in the country. With the impressive effort they put in during the last legal year, some commendable results were achieved in the disposal of cases. This achievement was brought about as a result of increased and continued vigilance of the Committee. The two leading anti-graft agencies in the country have also been trying to amplify the war against corruption. The ICPC was able to successfully secure a total number of 10 convictions while the sister agency, EFCC was able to secure 1,094 convictions within the same period under review.

    The matters filed at the Supreme Court from the 12th day of September, 2022 to the 11th day of July, 2023, are 1,271, comprising of motions and appeals. Out of these, we heard 388 political appeals, 215 criminal appeals, and 464 civil appeals. Similarly, the court considered a total number of 49 criminal motions, 153 civil motions, and 2 political motions. Between the 30th day of September, 2022 and the 11th day of July, 2023, the Supreme Court delivered a total number of 251 judgments.

    Out of these, 125 were political appeals, 81 were civil appeals and 45 were criminal appeals. Within the period under review (precisely 10 months’ duration), a total number of 91 Rulings were delivered by the Honourable Court. To a very large extent, I will confidently say that this score-card is impressive, fascinating and appreciable in view of the unpleasant events that dotted the legal year, especially the attenuating number of Justices on the Supreme Court Bench, which has to do with some challenges that could not easily be surmounted by one arm of government alone. I attribute the tremendous successes recorded in the course of the last legal year by the Honourable Court to the doggedness exhibited by my industrious and team-spirited brother Justices and the general staff. You are all greatly appreciated.

    Even as we celebrate the successes recorded in the past legal year in the disposal of cases, I would like to admonish all Nigerians on the imperative of being less litigious and be more disposed to alternative dispute resolutions to free the courts of this unnecessary over-stretching of both human and material resources. I have made it clear at different occasions that it is not every dispute that must find its way to the court; and it is not every matter that must come up to the Supreme Court on appeal. Our laws have to be amended to make most appeals to end at the Court of Appeal, which is competent, dexterous and well-equipped with the right materials and manpower to adjudicate effectively and resourcefully. In every dispute, only one party must win; and winning could come after intense legal fireworks that is transparent and based solely on subsisting laws of the land. We cannot import foreign laws to try our cases here, as some litigants would erroneously and desperately want us to do in the quest to get victory.

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    If we really want to make progress as a nation and collectively build a virile legal framework that will serve our interest to the best of its ability, we must begin to have a change of attitude. We are not only here to celebrate the new legal year but to equally speak truth to ourselves and also purge ourselves of most of our wrongdoings and misadventures. The agglomeration of all these problems and mind-set has, largely, accounted for the several appeals that are currently pending in the Supreme Court and the Court of Appeal, too. The good news I would like to share here again, is that the Alternative Dispute Resolution (Mediation) Centre of the Supreme Court has been fully furnished and equipped with both materials and personnel to function effectively and efficiently. Very soon, I will inaugurate the Centre for full operation. So, we should begin to take advantage of alternative dispute resolution mechanisms to resolve some of our disputes with a view to cutting down the cost of litigation and also free the Courts from case-overload.

    On the 15th day of February, 2023, I issued the Supreme Court Pre-Election and Election Appeals Practice Direction, 2023. That came on the heels of the inauguration and training of hundreds of Election Petition Tribunal Members that were billed to adjudicate on all petitions emanating from the 2023 general elections and the succeeding off-cycle elections in the country. All the tribunals across the country have endeavoured to work assiduously to deliver judgments within the time permitted by the Electoral Act and allied subsisting legislations. I commend them for conducting themselves within the ambit of the law. However, I expect members of the public who have any complaints bordering on any form of untoward behaviour or misapplication of the law by any member of the tribunals to channel such to the National Judicial Council for prompt action, as I will not condone any form of malfeasance or nonchalance from any judicial officer in the tribunal or regular Court.

    My Lords, distinguished invited guests, ladies and gentlemen, as we all know, the rank of Senior Advocate of Nigeria comes with so much prestige and greater responsibilities, too. Those conferred with the rank automatically become members of the Inner Bar and Apostles of the Temple of Justice. It is an honour no conferee can afford to take for granted. The Legal Practitioners’ Privileges Committee had painstakingly screened and diligently assessed all the documents submitted by the applicants before arriving at its decision. Even though there is no human system that could be adjudged to be infallible, however, with the effort and commitment invested in the exercise by the Committee, I can say confidently and assuredly that they have done remarkably well. I sincerely appreciate your dedication, commitment and sacrifice throughout the duration of the screening, inspection, interview and final announcement exercises. The Guidelines for the Conferment of the Rank of Senior Advocate of Nigeria and All Matters Pertaining to the Rank, 2022, require very high standards of merit from all the applicants vying for the award. Every requirement contained in the guidelines was observed before arriving at the final list.

    The number of applicants for 2023 Senior Advocate of Nigeria Award was 114. Out of this number, 101 are advocates and 13 are academics. The total number of 

    qualified applicants shortlisted after the Advocates 1st and 2nd Filtration Stages, Academic Pre-qualification, Academic 2nd Filtration Exercise, the Independent Appeals Hearing and Chambers Inspection Exercise, etc., was 69; comprising 57 advocates and 12 academics. After conducting the specified screening and filtration exercises which include a number of appearances in superior courts, recommendations by Hon. Justices of the Supreme Court and Hon. Judges of superior courts, Chamber inspections; approval on eligibility and integrity of the candidates from the Nigerian Bar Association, Body of Senior Advocates of Nigeria and, of course, the general public, amongst others, the LPPC came up with 58 successful candidates who, by all standards, can be regarded as eminently deserving of the rank of Senior Advocate of Nigeria. Out of this number, 57 are advocates while one is an Academic. This is, indeed, heart-warming and exciting; particularly for those who have accomplished this remarkable feat.

    On behalf of my learned brother Justices of the Supreme Court and members of the Legal Practitioners’ Privileges Committee, I sincerely congratulate the 58 successful Senior Advocates that have just been sworn-in. No success comes easy in life because a lot of sacrifices and hard work are often invested. You have laboured so hard for it, so you deserve every privilege, honour and pride that comes with the rank. The LPPC deserves enough commendation for endorsing the elevation of these eminent 58 Legal Practitioners who have, from all indications, show-cased unassailable professionalism and excellence in legal practice.

    As Senior Advocates of Nigeria, you now carry heavy burden on your shoulders. From the moment you leave this Courtroom, everything in you and about you will now be freely scrutinized and dissected by everyone that comes in contact with you. There is nothing like private life for you henceforth, as whatever you hitherto regarded as private life will now be treated as public life by members of the public; and there is nothing you can do about it. So, watch your utterances, watch your actions and watch the kind of company you keep, because you have already assumed the role of Ministers of the Court, as you are now expected to assist the Court to attain justice, equity and fairness in all ramifications. You must display enormous integrity, self-discipline and high standard of advocacy as custodians of justice. The privilege you are conferred with today does not, in any way, make you superhuman because humility and self-control still remain the essential tools to engage in wrestling the foibles of life. Unfortunately, however, after attaining this rank, some Senior Advocates would instantly become mere casual visitors to courtrooms, as they now see themselves to be too big to appear in court. I am using this very important occasion to tell you all that this is the most auspicious time to make your presence regular and significant in the court.

    Before I end my speech, I would like to express my warm gratitude and appreciation to everyone that has decided to be physically present here today to witness this very important programme heralding the 2023/2024 legal year. We are very grateful to you all for according us this great honour, even at the expense of your very demanding schedules. I also wish to express my appreciation to the Hon. Minister of Justice and Attorney General of the Federation, Prince Lateef Fagbemi, SAN; the Chairman of the Body of Senior Advocates of Nigeria; the President of Nigerian Bar Association, Hon. Yakubu Makyau, SAN; and, of course, the spokesperson for the newly conferred Senior Advocates of Nigeria, Mr. Felix Ota Offia, SAN for graciously accepting our invitation to address this very important gathering.

    Thank you very much for spending your precious time with us. I wish you all journey mercies back to your respective destinations.

    •Ariwoola is Chief Justice of Nigeria

  • FEC reviews budget’s key indicators

    FEC reviews budget’s key indicators

    Details of the N27.5 trillion as aggregate expenditure for the 2024 Appropriation Bill will be unveiled tomorrow during its presentation by President Bola Ahmed Tinubu to the joint session of the National Assembly.

    Budget and Economic Planning Minister Atiku Bagudu said the Federal Executive Council (FEC) approved proposals at its yesterday’s meeting.

    The minister said the Federal Government will be targeting N18.32 trillion revenue, describing the proposal as an increase of over N1.5 trillion when compared to the earlier projection of N26.01trillion.

    The deficit, Bagudu noted, was lower than that of this year.

    He further disclosed that the 2024 – 2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), which had been passed by the National Assembly, was further revised.

    The minister said: “Today (yesterday), among other issues, the Federal Executive Council considered the 2024 Appropriation Bill. You may recall that the Medium Term Expenditure Framework was earlier approved and transmitted to the National Assembly, which the assembly graciously approved and that approved Medium Term Expenditure has the exchange rate of N700 to $1 and equally, the benchmark crude oil price at $73.96 cent.

    “However, in Mr. President’s determination to find more money to fund our priorities, the FEC revised the Medium Term Expenditure Framework and Fiscal Policy Framework and two of the important decisions were to use an exchange rate of N750 to $1 and also a benchmark crude oil reference price of $77.96, meaning $4 more than the earlier approval.

    “This will significantly increase government revenue that Mr. President intends to use in further supporting the ministries, departments and agencies in the execution of the eight priority areas, particularly Health, Education, infrastructure, security and other developmental areas.

    “Equally, the Federal Executive Council approved the 2024 Appropriation Bill and the presentation of such to the National Assembly by His Excellency, Mr. President. The bill has an aggregate expenditure of N27,500,000,000,000, which is an increase of over N1.5 trillion from the previously estimated, using the old reference prices.

    “The forecast revenue is now N18.32 trillion, which is higher than the 2023 revenues, including that provided in the two supplementary budgets. Equally and commendably, the deficit is lower than that of 2023.

    “Details of the Renewed Hope Budget will be announced by Mr. President when he makes the presentation to the National Assembly”, Bagudu explained.

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    Also yesterday, the Taiwo Oyedele-led Presidential Fiscal Policy and Tax Reform Committee, briefed the FEC. It provided updates on its activities after 90 days of operation.

    The Minister of Finance and Coordinating Minister of for the Economy, Mr. Wale Edun, who provided hints from the Committee’s briefing to the Council, lauded the works so far done, noting that its report was well received by the President.

    Edun said: “There was a briefing by the Fiscal Policy and Tax Reform Committee, essentially they’ve been working for roughly 90 days, they’ve been working very well and very effectively, such that they are in a position to have even impacted the economy by coming up with initial reforms, as well as signposting the way forward in terms of very important targets.

    “So, in a nutshell, the policy on VAT removal on diesel is from them, they are looking to help boost fiscal situation of the government by increasing revenue, particularly tax revenue, through digitalization, additional efficiency and rationalisation of the range of taxes that we have at the moment.

    “They are looking to increase the ratio of tax-revenue-to-GDP to 18%, which is the average for Africa; so many countries are above that level.

    “It is actually about double where we are now and within a matter of a few years, their target is to reach 18%. Other economic measures, in the short term, are being contemplated and their report was well received by Mr. President, and indeed, the FEC.”

    The Attorney-General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, said FEC approved Nigeria’s Draft Human Rights reports for further transmission to the United Nations Commission on Human Rights.

    Fagbemi, A Senior Advocate of Nigeria (SAN) stated that the approval is for the fourth cycle of the United Nations Universal Periodic Review and in fulfilment of the practice of reporting human rights records.

    He said: “The memo I presented was for approval of draft national report for the fourth cycle of the United Nations Universal Periodic Review. As you all know, Nigeria is a member of so many international jurisdictions, including the United Nations, and at the United Nations there’s a practice of reporting your human rights records, among others, periodically. We reported in 2009, in 2013 and 2018.

    “So, since 2018 we have not made any report and there’ll be a meeting where all these reports will be considered in February 2024. We believe that it’s just right that we forward this report ahead of that meeting in February 2024.

    “After engaging critical stakeholders in the country in each of the six geopolitical zones and including the three tiers of government; the national, state and local government levels, we compiled the report which we are sending to the United Nations on human rights universal periodic review for consideration.

    “Before we can do that, we have to bring it to the FEC. So, we got approval to forward the report to the UN.” 

  •  Leadership crisis rocks CCB

     Leadership crisis rocks CCB

    Despite the directive from the Secretary to the Government of the Federation (SGF), Senator George Akume, the leadership tussle rocking the Code of Conduct Bureau (CCB) has not abated.

    One of the Federal Commissioners, Ehiozuwa Johnson Agbonayinma, said he was yet to get the handover note to assume office as the acting chairman of the Bureau.

    He accused his fellow Federal Commissioner, Murtala Aliyu Kankiya, of disobeying the SGF directive to handover the headship of the bureau to him, pending the appointment of a substantive CCB chair.

    Although Murtala claimed he is the most senior, Ehiozuwa said such a claim stood logic on its head.

    According to Ehiozuwa, the immediate past CCB Chairman, Prof. Mohammed Isah, caused the crisis in the agency when he handed over to Kankiya at 9pm on November 6.

    There has been crisis in the CCB since November 7, when Kankiya and Ehiozuwa have been jostling for the office of the acting chairman of the Bureau.

    The two Federal Commissioners lay claim to the most senior board members and should lead the agency in acting capacity.

    They have approached the SGF for intervention and justice.

    In a November 23 memo to the SGF, Kankiya insisted that he was the most senior Federal Commission to serve as the acting chairman of CCB.

     But in another memo to the SGF on November 24, Ehiozuwa accused Kankiya of disobeying a directive to hand over to him as the senior.

    The letter reads: “Your attention is by this letter drawn to an outright insubordination and disobedience to unlawful act being carried out byBarr. Kankiya A. Murtala in Code of Conduct Bureau (CCB).

    “Instead of handing over the acting chairmanship to the most senior board member, he has decided to discredit your above mentioned directives as contained in the circular Ref. No. SGF/ OP/I/S.3/ T/ 39.

    “Following the above directives of your office in a letter marked SGF.19/824/C.3/III/534  and dated November 22, 2023, directing Barr. Murtala Aliyu Kankiya to handover the position of acting chairmanship of the Code of Conduct Bureau to the most senior board member of the Bureau and which happens to be me.

    “Barr. Murtala Aliyu Kankiya, instead of handing over on November, 23, 2023 as  directed, has embarked on making frivolous publications, including an internal memo, discrediting the letter as fake with the clear intentions of inciting the staff, management and board members of the Bureau.

    “In the least, every responsible public officer/servant knows that in line with the provisions of the Public Service Rules (PSR), every lawful orders/directives, such as the one in questions must be obeyed and failure to do so amount to insubordination which is a serious misconduct and attract punishable offence.

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    “The claim by Barr. Murtala Aliyu Kankiya that he is the most senior board member is not only wrong, but misleading and aimed at inciting crisis in the Bureau.

    “It is a well-established fact that the appointment of the chairman and board members of the Bureau falls on the President, C-in-C Schedule in Section 171(2d) of the 1999 Constitution of the Federal Republic of Nigeria as amended.

    “These appointments are those with special character and cannot be coalesce, bearing in mind that everyone of such appointment follows separate and fresh process. Appointment letter and documentation are for purpose of seniority determination.

    “Worthy of note is that Barr. Kankiya resigned his appointment in 2022 before the end of his tenure scheduled for November 7, 2023 to pursue elective position for House of Representatives and lost the election.

    “He was appointed again by the immediate past President, Muhammadu Buhari on a fresh appointment of five-year tenure on 29th March, 2023. His claim that he served for his initial five-year term and was reappointed on 29th March 2023 is nothing but lies.

    “In view of the prevailing atmosphere in the office and to put an end to his refusal to handover, I suggest that a mandate letter be issued to me forthwith to take over as the acting chairman of the Code of Conduct Bureau. Your early action on this matter will be highly appreciated.”

    In a November 8 letter to the SGF, Ehiozuwa had alleged that the immediate Isah, in his capacity as the then CCB chair, “clandestinely handed over on 6th November, 2023 by 9pm to Kankiya, who is number three (3) in the ranking of Federal Commissioners of the CCB.”

    Prof Isah, who responded to an enquiry from our correspondent yesterday, said: “This is clear exhibition of ignorance of how the system operates. Only the President has the power to swear in someone to an office.

    “Even the so much-talked about acting chairman, I didn’t hand over to Kankiya as acting chairman.”

    In the November 23 letter, Kankiya told the SGF that he was the most senior federal commissioner.

    He said: “Pursuant to your letter dated 22nd November, 2023, with reference number SGF.19/824/C.3/III/533 on the above subject matter directing that I immediately handover to the most senior Federal Commissioner, I wish to state that I am the most senior Federal Commissioner in the Bureau being appointed on the 7th of November, 2018 and reappointed for second term on the 29th of March, 2023 for another term of five years.”

    “Based on the date of appointment, the list of seniority of commissioners in CCB as follows: Murtala A. Kankiya (7/11/2018; 29/3/2023); Benedict Umeano  (20/1/2021); Hon. Ehiozuwa J. Agbonayinma (20/1021); Mr. Zephaniah Ishaku Bulus (29/3/2023); Taofeeq Abdulsalam (29/3/2023); and Prof. Juwairiyya Badamasi (29/3/2023).

     “Therefore, the handing over made to me by Prof. Mohammed Isah on the 8th of November, 2023 following his end of tenure was made in line with the said provisions of the circular as the most senior Federal Commissioner in the Bureau. The facts of this seniority list are in the records of your office.

    “In view of the above, I hope this will help to guide your decision and recognize that I am the most senior Federal Commissioner amongst the serving members.

    “The handing over to me was without any form of disregard to established and extant rules. Please find attached copies of letters of appointment for your perusal and guidance. While looking forward to your further directives, please accept the assurances of my esteem regards as always.”

  • Protests in Kano over Appeal Court verdict

    Protests in Kano over Appeal Court verdict

    • Police arrest seven suspects for alleged violence

    There were protests yesterday in Kano.

    The protesters were angry about the Appeal Court verdict which sacked Governor Abba Kabir Yusuf from office.

    The court had held that Yusuf was not sponsored as a candidate by the New Nigeria Peoples Party (NNPP) on which platform he purportedly won the March 18 governorship election.

    A three-member panel of the Court of Appeal, headed by Justice Moore Adumein, in a unanimous judgment, followed the proceedings of the State Governorship Election Petitions Tribunal which had, in its judgment of September 20, declared Nasiru Yusuf Gawuna of the All Progressives Congress (APC) the duly elected governor of Kano State.

    The appellate court asked Yusuf to pay N1 million as damages to Gawuna/APC.

    The sacked governor, who rejected the judgment, has headed to the Supreme Court.

    The state had been living under tension, following a contradictory Certified True Copy (CCT) of the Appeal Court which affirmed the prayers of the appellant and the respondent in the contentious Kano State governorship.

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    But the Judiciary had said the seeming contradiction arose as a result of typographic error.

    The protesters took over strategic positions in Kano City, causing disruptions of commercial activities, among others.

    From Kano-Zaria road, to Maiduguri road by Muhammadu Buhari’s interchange, and Kantin Kwari (Kano textile market) the protesters, mainly youths, called for justice for Abba Yusuf.

    Police Commissioner Mohammed Usaini Gumel said the police command had arrested seven suspects in connection with the protest.

    “Of course, these groups are currently putting pressure very hard and pushing up for the law-abiding and innocent people to be killed in their desperation to trigger violence escalation and create disharmony amongst the security operatives and also to push them into engaging in deadly clashes with the protesting members of the public,” he said.

    The police chief said the command had dispatched its personnel who were able to disperse the protesters.

  • Appeal Court affirms Aliyu’s election as Sokoto governor

    Appeal Court affirms Aliyu’s election as Sokoto governor

    • PDP to challenge Sanwo-Olu’s victory t Supreme Court

    The Court of Appeal in Abuja has affirmed the election of Ahmed Aliyu of the All Progressives Congress (APC) as the governor of Sokoto State.

    A three-member panel of the court’s Sokoto Division, which sat in Abuja, held in a unanimous judgment yesterday that the appellants failed to prove their case.

    The panel, headed by Justice Ita Mbaba, dismissed the appeal filed by the Peoples Democratic Party (PDP) and its candidate in the March 18 governorship election, Saidu Umar.

    The appellate court affirmed the September 30 judgment of the state governorship election petitions tribunal, which earlier dismissed the petition by the appellants.

    In the lead judgment, Justice Mbaba held that the tribunal was right to have held that Aliyu and deputy, Idris Gobir, were qualified to contest the election and that they did not present forged certificates, as claimed by the appellants.

    In their petition, the PDP and Umar had challenged Aliyu’s victory on the grounds that the governor and his deputy were ineligible to contest the election.

    They also accused the governor and his deputy of falsification of certificates, variation of names, election frauds= and non-compliance with electoral guidelines.

    But Justice Mbaba held that the appellants failed to lead credible evidence to prove their allegation of non-compliance.

    The judge held that the appellants, who were petitioners before the tribunal, pleaded and tendered INEC’s Forms EC40G, which were issued in respect of polling units where election results were cancelled, but failed to call witnesses from the affected polling units to prove the exhibits.

    Justice Mbaba said the documents were dumped on the tribunal.

    Also, the Peoples Democratic Party (PDP) in Lagos State has said it had resolved to challenge the Appeal Court’s ruling which affirming Governor Babajide Sanwo-Olu as winner of March 18 governorship election.

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    The State PDP Publicity Secretary, Alhaji Hakeem Amode, announced the party’s decision in an interview with the News Agency of Nigeria (NAN) yesterday in Lagos.

    Amode said justice had not been properly served in the PDP’s governorship candidate’s, Dr. Olajide Adediran’s (Jandor’s) petitions against Sanwo-Olu’s re-election.

    “We are challenging the ruling of the Appeal Court affirming Sanwo-Olu as winner at the Supreme Court. In a couple of days, our petitions will get to the Supreme Court,” he said.

    The publicity secretary claimed that the justices of the Court of Appeal had failed the party by not seeing the merit in Adediran’s petition.

    “Looking at some of the Appeal Court’s rulings: there have been so many inconsistencies on its stands on pre-election matters.

    “We, as a party, feel justice is yet to be served in our petitions against the outcome of March 18 governorship election in this state.

    “We have a strong belief in the Supreme Court to look at the crux of the matter and make a statement that will serve as precedent.

    “The party and our candidate are not deterred. We have reviewed the November 15 Appeal Court’s ruling and decided to pursue justice at the Supreme Court,” Amode said.