The Nation Newspaper

Author: The Nation

  • APC Govs, Adamu disagree over NASS principal officers

    APC Govs, Adamu disagree over NASS principal officers

    There were discordant tunes between the National Chairman of the ruling All Progressives Congress (APC) Senator Abdullahi Adamu and Governors of the party over the new principal officers of the National Assembly announced at the two Chambers on Tuesday.

    The Chairman, in a meeting with members of the Progressive Governors’ Forum (PGF) led by its Chairman, Governor Hope Uzodimma, told the Governors the National Working Committee (NWC) was not a party to the announcement of principal officers by Senate President Godswill Akpabio and Speaker Tajudeen Abbas.

    Adamu said: “I am just hearing a rumour now from the online media that there have been some announcements in the Senate and House of Representatives.

    “The national headquarters of the party and the NWC has not given any such information or communicated about the choice of offices.

    “And until we formally resolve and communicate with them in writing which is the norm and practice, it is not our intention to break away from traditions. So whatever announcement is done either by the President of the Senate, Deputy Senate President, Speaker or Deputy Speaker, is not from this secretariat.”

    Read Also: Lukman accuses Adamu, Omisore of running<br>APC without approved budget

    But at the closed-door meeting with the Governors, The Nation gathered the chairman’s position did not go down well with them, most of whom were caught aback by what they called an “unwarranted” outburst.

    Addressing newsmen after the meeting, Uzodimma faulted the national chairman’s position on the Principal officers of the National Assembly, maintaining that the leadership of the legislative houses enjoys the support of APC Governors.

    “Chairman never said that they are on their own. The National Assembly leadership belongs to our great party and they are members of our party, they are members of our party and they enjoy our support.

    “If there is any way that there is a communication gap anywhere, we will make it up and we have our internal mechanism of resolving such things. The National Assembly leadership enjoys the support of the Progressives Governors Forum and our party. We don’t have any problem at all,” he said.

    Governors at the meeting include Hope Uzodimma (Imo); Yahaya Bello (Kogi); Abdulrahman AbdulRasak (Kwara); Babajide Sanwo-Olu (Lagos); Abiodun Oyebanji (Ekiti); Rev. Hyacient Alia (Benue); Diko Rada (Katsina); Mai Mala Buni (Yobe), Francis Ogobona Nwifuru (Ebonyi), Inuwa Yahaya (Gombe), Umar Namadi (Jigawa) and Umar Mohammed (Niger).

    Others are Deputy Governors of Kaduna Haidza Balarabe and her Nasarawa counterpart Dr Emmanuel Agbadu Akabe.

  • Military board begins payment of third tranche of retirees allowances

    Military board begins payment of third tranche of retirees allowances

    The Military Pensions Board (MPB) has begun payment of the third tranche of the Security Debarment Allowance (SDA) to eligible military retirees/Next of Kins (NOKs) of deceased military personnel.

    A statement by the Chairmen of the board, Rear Admiral SA LAWA, on Tuesday, said the payment of the third tranche represents the third quarterly payment of the SDA for the year 2023.

    Beneficiaries for the third tranche, according to the statement, are Military Pensioners who are Active on the Board’s Data Base as of 9 Nov 2017; NOKs of Deceased Military Pensioners on the MPB Database who were alive as of 9 Nov 2017; and Non-pensionable but Active Military Retirees who retired before 9 November 2017.

    Read Also: I’m leaving military bigger, stronger, more capable – Irabor

    The statement reads: “Payment of the SDA to the group of pensioners/retirees is to give effect to the Presidential approval for extension of the payment of the SDA to military pensioners/retirees who exited the services before 9 November 2017, but were originally excluded from the implementation of the provisions of the reviewed Manual of Financial Administration (MAFA) 2017 as it relates to the SDA.”

    “Gleaning from the foregoing, our esteemed retirees are pleased to note that the SDA is calculated as a function of 10% of the retiree’s annual basic salary as at the time of retirement multiplied by the number of years served in the services.

    “All concerned military pensioners/retirees and NOKs of deceased military pensioners are therefore advised to contact their banks for their entitlements.”

    The MPB assured military retirees/pensioners, NOKs of deceased military personnel and Nigerians that the board remains resolute in ensuring prompt payment of the remaining tranches of the SDA subject to the release of funds by the Federal Ministry of Finance.

  • Naira relapses to N768/$ at official market

    Naira relapses to N768/$ at official market

    The naira recorded marginal losses at the official market on Tuesday, closing at N768/$ at the Investors and Exporters (I&E) window.

    The local currency recorded an N27/$ loss at the official market weaker than N741/$ it closed on Monday.

    Market reports showed the naira exchanged at N770/$ at the parallel markets, leaving N2 gap for full rate convergence between the official and parallel market rates.

    According to a report from FMDQ Exchange, cumulative transaction turnover at the I&E Window stood at $88.68 million on Monday. Tuesday’s data is yet to be released.

    Analysts also said that Monday’s low closing rate at the I&E window attracted forex buyers interested in getting the greenback at cheaper rates to that segment of the market.

    The Central Bank of Nigeria (CBN) unified all exchange rates into the I&E window and allowed market forces to determine exchange rate for the naira.

    Managing Director, Economic Associates, Dr. Ayo Teribe, said the Bureau De Change (BDC)/ parallel market rate is the reliable indication of market realities, and it is stable.

    “The volatile price correction in the I&E rate should trigger equally strong reduction in demand plus an increase in supply in that window. That would make the market settle back towards equilibrium in the next few days. I expect the rates to strengthen across all windows before the end of this week. I expect the unified rate to move towards N600/$ or stronger in the next week or so,” Teriba said.

    Read Also: Naira rebounds to N741/$

    Managing Director, Financial Derivatives Company Limited, Bismarck Rewane, explained that in continuation of the fundamental reforms in the forex market, the CBN, announced the relaxation of the domiciliary account restrictions. Hitherto, cash deposits and withdrawals were limited.

    He said the adoption of a single exchange rate and the “willing buyer-willing seller model” by the CBN is, no doubt, cheery news for the market.

    He said the new exchange rate framework is expected to increase transparency in the forex market, reduce exchange rate misalignment and transaction costs, and buoy investor confidence.

    “However, exchange rate management goes beyond exchange rate unification. It must address issues surrounding market structure, easy access and adequate supply. This means effectively dismantling forex rationing, administrative controls, and reviewing import restrictions. As Barack Obama declared, “Africa doesn’t need strongmen, it needs strong institutions,” Rewane said.

    President, Association of Bureaux De Change Operators of Nigeria (ABCON), Dr Aminu Gwadabe, said all eligible forex demands are now queuing at the I&E window in the short run hence the high transaction traffic there.

    “The development is not new as there were times when official exchange rate was higher than the parallel market rates in China. The interplay of supply and demand forces and the concept of willing buyer and willing seller will eventually lead to a stable market clearance rate as events unfold,” he said.

  • I was tied to a tree, says abducted Ondo Imam

    I was tied to a tree, says abducted Ondo Imam

    Kidnapped Chief Imam of Uso in Owo Local Government area of Ondo State Alhaji Alli Ibrahim Bodunde has narrated how he was made tied to a tree for 48 hours after trekking for six hours inside the forest by his abductors.

    Bodunde spoke with newsmen in Akure when the three suspected kidnappers were paraded.

    Bodunde said he was beaten for his inability to speak English when he was interrogated by the kidnappers.

    He confirmed that he paid N2 million as ransom before he was released adding he was not given food or water for the two days he spent at the kidnappers’ den.

    Read Also: Abducted Ondo Imam released after alleged N2m ransom

    The Islamic cleric said he was shocked when his abductors reeled out information about him during questioning.

    Bodunde said his abductors insisted that he communicated with them in pidgin English and not Yoruba.

    “Anytime I mistakenly spoke Yoruba, I would be beaten by them. They tied my hands to my back on a tree. My legs were also tied,’’ he said.

    He said the kidnappers began negotiating with his family when their leader joined them at the hideout.

  • Why I can’t defile my body before marriage – BBNaija’s Bella

    Why I can’t defile my body before marriage – BBNaija’s Bella

    BBNaija ex-‘Level Up’ housemate, Bella Okagbue has explained she can’t have s3x before marriage.

    The reality star made this revelation while commenting on a blog’s post on Twitter.

    Bella claimed she can’t have s3x before marriage because of her training.

    Read Also: Sheggz a trophy I will carry on my head, says Bella

    The post reads: “One thing home training will never make you do?”.

    Reacting to it, Bella tweeted: “Sex before marriage!!”.

    This is coming as a surprise for many as Bella seems to be cohabiting with her boyfriend and co-reality star, Sheggz.

  • We concede ministerial appointment to Wike – Rivers APC stakeholders

    We concede ministerial appointment to Wike – Rivers APC stakeholders

    Major stakeholders of the All Progressives Congress (APC) in Rivers State have urged President Bola Tinubu to consider former Governor Nyesom Wike for ministerial appointment.

    The stakeholders under the aegis of Amalgamated Bola Tinubu Campaign Council, Rivers State, led by former Chief of Staff to the Rivers State Government and stalwart of the party, Chief Tony Okocha, explained that the call was premised on the role Wike played in Tinubu’s victory during the February 25 presidential election.

    Okocha urged the public to disregard what he described as cheap political stunts by the former governorship candidate of the Social Democratic Party (SDP) Magnus Abe, in Rivers state to suddenly take the front seat in Tinubu’s political veranda, after he left the APC at a time he was most needed.

    Attributing the victory of the APC in the state to the effort of Wike, Okocha said he played the role of keeping the APC together when major stakeholders of the party turned their backs.

    He said: “When Ameachi had left, Magnus had left what remained was the little I could control with an amalgamation of support groups. From 1999, PDP has been in control of Rivers state back-to-back. Even in 2015, when I was Chief of staff, Ameachi was governor and during that Presidential election, APC scored about 69,000 votes, PDP scored about 2 million votes and we were in charge and he doubled as the DG of Buhari in 2015, in 2019 Wike had become governor, it became even worse.

    “In 2015, APC scored 7 per cent, in 2019 we scored 5 per cent. Then, in 2023 APC is now winning. What was the magic? Wike’s PDP scored 32/32 in the state House of Assembly in Rivers state, Wike’s PDP scored 12/13 of House of Reps seats, Wike’s PDP scored 3/3 of the senatorial seats, Wike’s PDP won the governorship and then Wike’s PDP did not win presidential election in Rivers State. What happened?

    “Is it not the reason that all of us know that the G-5 Governors said until things are made right, until power shifts to the south and that until Ayu resigns that they will not work for Atiku. Now, the spin doctor who made sure everything worked out for Tinubu, was Wike.

    Read Also: Why I invited Wike to join APC, by Tony Okocha

    “We have 6,868 polling units in Rivers state across 319 wards and across 23 LGs and you and I know that every politician has his own polling unit agents that are paid on stipend or the other. Who paid for the 6,868 agents in Rivers for APC?

    “The activities of the G-5 is instrumental to the success of Tinubu in Nigeria politics today. Look at the ratio, APC won 12 states, PDP won 10 states. Assuming PDP people worked together, they would have taken more states. I am telling you that in our own case, I am saying it categorically, I would have been the one person to say no don’t give it to him because I had the house. He didn’t come to see an empty house. I would have decided to appropriate everything to myself and behave like a crab.

    “If you have somebody that is more than you, why don’t you invite the person? If he helped us to win in 2023, are we now going to tell him to come to us in 2027 to help us win? Why don’t we bring him in because he has value to add. No politician in Rivers state today can surmount Wike. No one in Rivers state can challenge Wike. He is the best.

    “We are saying that whatever is due us as Rivers state as should be handed over to Wike because he knows who worked for Tinubu in Rivers. I would have claimed it all because I was the last man standing when everybody took off but we are saying, look, this man contributed more.”

  • Banks ration cash at ATMs, over-the-counter transactions

    Banks ration cash at ATMs, over-the-counter transactions

    Commercial banks are rationing cash for Automated Teller Machines (ATMs) and over-the-counter transactions.

    The move indicates that the cash scarcity that crumbled the economy a few months back is not yet fully over.

    Banks have also set diverse rules on ATMs and over-the-counter withdrawals based on cash availability.

    At a new generation branch in Ibeju-Lekki Lagos, the bank’s ATMs were set at N5,000 per transaction and customers are allowed to withdraw a maximum of N40,000 per day.

    Many other new generation banks are also limiting cash withdrawals on ATMs.

    Lagos-based entrepreneur and Managing Director, Countryside Communication, Johnson Okanlawon, said commercial banks in Akowonjo, Lagos are restricting daily cash withdrawal on ATMs to between N20,000.00 and N30,000 while many ATMs are not dispensing cash. 

    He said many of the banks are also not able to pay N500,000 daily cash withdrawal over the counter transactions as directed by the CBN.

    “Many of the banks are paying N50,000 and N100,000 for over the counter per day. It is really difficult to get cash from banks these days,” he said.

    Okanlawon said the banks are keeping their eyes of rising cost of obtaining cash, and are not ready to allow customers withdrawal cash as specified by the CBN.

    “Many banks now set their ATMs at N5,000 per transaction. After four withdrawals, the customer using another bank’s ATMs will start paying charges. These charges are to cover the cost of cash and fees associated with the transaction channels,” he said.

    A bank manager with an old generation bank in Lagos said it costs between N500,000 and N700,000 logistics to move cash from the Central Bank of Nigeria (CBN) to the branches of banks, and many banks are not ready to bear the costs.

    He said: “It costs money to bring money to branches. We are relying on cash deposits from customers, which are not forth-coming.

    ‘’We spend between N500,000 and N700,000 to move cash from the CBN to branches. We wish these costs are avoidable. In many cases, we call businesses with huge cash receipts to bring cash and we pay them cheaper rate, instead of buying from the CBN”.

    Under the cash withdrawal limit policy, the CBN had placed cash withdrawal limits of maximum of N500,000 weekly on individuals and maximum N5 million weekly on corporate entities.

  • Abbas, Kalu will break new grounds, says lawmaker

    Abbas, Kalu will break new grounds, says lawmaker

    The 10th House of Representatives will make history under the leadership of  Speaker  Tajudeen Abbas, the lawmaker representing Ado/ Okpokwu/ Ogbadido Federal Constituency of Benue State, Philip Agbese has said.

     Agbese made this known yesterday in reaction to the emergence of principal officers.

     Julius Ihonvbere (Edo, House Majority Leader), Halims Abdullahi (Kogi, Deputy Majority Leader), Bello Kumo (Gombe, Chief  Whip), and Adewunmi Onanuga and (Ogun, Deputy Chief Whip) emerged via consensus.

     Abbas also read a letter from the Minority Caucus that detailed the names of the principal officers.

     The letter named Kingsley Chinda (PDP, Minority Leader), Aliyu Madaki (NNPP, Deputy Minority Leader), Ali Isah (PDP, Minority Whip), and George Ozodinobi (Labour Party, Deputy Minority Whip).

    Agbese noted that the way and manner the Speaker conducted the entire process shows that he is well on track to break new ground.

    Read Also: Pray for success of Tinubu’s administration, Speaker Abbas urges

     He said the exercise was rancor-free, smooth, and flawless, unlike in times past when lawmakers were at loggerheads. 

     The Benue lawmaker described  Abbas as humble, resolute, and dedicated to the Nigerian cause and has already brought his wealth of experience and exposure to good use.

     Agbese said he had been even more impressed by the synergy, insight, and cooperation between Abbas and his deputy, Benjamin Kalu so far.

     According to him, their beautiful relationship and mutual respect for one another as well as their colleagues has stabilised the House, ensuring a speedy takeoff.

     He said the Green Chamber is focused on its constitutional mandate and not on politicking.

     Agbese, therefore, expressed optimism that Nigerians will soon begin to reap the dividends of the House.

  • Bobbyaino announces new project “UNLTD”

    Bobbyaino announces new project “UNLTD”

    Rising singer, Bobbyaino is thrilled to announce the highly anticipated release of his first official EP of the year, titled “UNLTD.” The EP showcases the artiste ‘s unique fusion of Afrobeats and Amapiano, giving birth to a captivating new sound called “Afropiano.”

    Inspired by a deep love for music of all genres, Bobbyaino has created a project that offers an unlimited stream of good music for his listeners. With “UNLTD,” he aims to provide songs that everyone can vibe to and enjoy, regardless of their musical preferences. Each track on the EP has been meticulously crafted to ensure a captivating experience from start to finish.

    Commenting on his sound, Bobbyaino stated, “I call my sound Afropiano because it combines the infectious rhythms of Afrobeats with the melodic elements of Amapiano. It’s a creative and distinctive fusion that offers a fresh take on Afrobeats for its growing audience.”

    The EP’s name, “UNLTD,” is derived from one of his new singles on the project. The song holds personal significance for the artist, representing his journey and growth in music. The title reflects the unlimited potential he has discovered through his dedication to recording, songwriting, and honing his craft.

    Read Also: I am ‘pregnant’ again, Actress Jumoke Odetola announces

    Discussing the selection process for the EP, he explained, “This is the second quarter of the year, and I haven’t released any singles since the beginning. My management and I carefully reviewed my archive and handpicked songs to create a cohesive body of work. As a new artist, it’s essential to strategically time the release of songs amidst the competitive landscape and the quality music being produced by established artistes.”

    “UNLTD” features beats that infuse elements of pop, Amapiano, and Afrobeats, resulting in an irresistible blend that will get fans moving and singing along. Bobbyaino’s exceptional vocal delivery and relatable lyrics enhance the beauty of each track, ensuring a memorable and enjoyable experience for his audience.

    “UNLTD” by Bobbyaino will be available on all major digital platforms starting Friday, July 7, 2023. Fans of Afrobeat, Amapiano, and music enthusiasts alike can look forward to an EP that pushes the boundaries of genre and captivates listeners with its infectious melodies and irresistible rhythms.

  • Ondo 2024: Group endorses Adekojo for governor

    Ondo 2024: Group endorses Adekojo for governor

    A group, the Ondo Youths Solidarity Movement has endorsed Engineer Funmi Adekojo ahead of the 2024 governorship election.

    The group urged the ruling All Progressives Peoples Congress (APC), to give its ticket to Adekojo because “she is a shining light into a brighter future.”

    Spokesman for the group, Gbenga Fadairo, said: “Ondo State, blessed with abundant resources and untapped potential, has long grappled with the issue of unequal development, where the capital city receives more attention than the neglected rural areas. Funmi Ayinke stands out as a leader who genuinely understands the needs of the grassroots and has made their advancement and well-being her top priority.

    “At the youthful age of 40, Funmi Ayinke embodies the energy and visionary mindset that Nigeria seeks in its leaders. As the CEO of Funmi Ayinke Nigeria Limited, a renowned engineering firm specializing in construction, she has demonstrated exceptional business acumen, elevating her company to one of the most successful enterprises in the country. Under her guidance, the firm has undertaken prestigious projects and created numerous employment opportunities for Nigerian citizens.

    “We are collectively agreed on a Funmi Ayinke candidature because beyond her professional achievements, Funmi Ayinke remains deeply committed to uplifting the less fortunate through her Funmi Ayinke Humanity Foundation (FAHF). The foundation has positively impacted the lives of countless widows, youths, and underprivileged individuals, while her YouTube talent hunt show has played a vital role in empowering numerous startup businesses.

    Read Also: APC Germany endorses Akpabio, Barau for senate leadership

    “Her investment in the youths is immeasurable and as the matron of the Nigeria Students Union, she has actively promoted dialogue and intellectual discussions as a means to combat violence and unrest.

    “Funmi Ayinke’s unwavering dedication to social causes is in alignment with her vision for comprehensive development across all regions of Ondo State. Her manifesto revolves around four key areas: social progress, economic and infrastructural development, self-sufficiency, and technology-driven sectors.

    “She envisions attracting foreign investments, fostering job creation, improving educational opportunities, ensuring accessible healthcare for all, empowering women, and modernizing the agricultural sector to achieve food sufficiency and economic growth.

    “As the elections draw near, we urge the All Progressives Congress (APC) to recognize Funmi Ayinke as the candidate capable of leading Ondo State towards the positive change it urgently needs.

    “The people of Ondo State have wholeheartedly embraced Funmi Ayinke’s transformative leadership and rallied behind her as the ideal candidate for the governorship. Her unwavering commitment to honesty, accountability, and integrity deeply resonates with citizens who believe that she embodies the values their state deserves.

    “The citizens of Ondo State stand at a critical crossroads, presented with an opportunity to elect a leader brimming with passion, proven expertise, and a genuine desire to uplift the state. Engineer Funmi Ayinke Waheed Adekojo has emerged as the favoured choice of the people for the governorship, and her promise of progress and prosperity has ignited hope and excitement among the citizens of Ondo State.”