The Nation Newspaper

Author: The Nation

  • Huawei partners UNESCO to aid tech learning in Nigeria

    Huawei partners UNESCO to aid tech learning in Nigeria

    By Tunde Adeniyi

    Leading global technology company – Huawei, in partnership with the United Nations Educational, Scientific and Cultural Organisation (UNESCO), has reaffirmed its commitment to enhancing learning in the country through the use of technology.

    The company made this known during the Digital Talent Summit co-hosted by Huawei and the Institute for Lifelong Learning (UIL).

     According to Huawei’s Vice President of Corporate Communications, Vicky Zhang, the company is proud to be joining forces with UNESCO to better deliver enhanced learning experiences in developing countries through the use of technology.

    “Getting the right education is often the key to success in life. As a major player in the technology sector, Huawei feels it is responsible for providing technical skills in all parts of the world, trying our best to include as many people as possible,” she said.

    Zhang said Huawei started the Seeds for the Future programme, a sub-project of the National ICT Talent Development, in 2018 by signing a Memorandum of Understanding (MoU) between the company and the government.  She revealed that 10  talented Nigerian students are selected each year for two weeks of ICT development and Chinese culture training.

    She added that the programme was   expected to yield significant social impact and contribution that will inspire and help students find new solutions for the future ICT development of the country and help it develop rapidly.

    The Director of UNESCO’s Institute for Lifelong Learning (UIL), David Atchoarena, praised Huawei for its commitment and contribution towards enhancing educators’ use of technology in developing countries.

    While inducting the company into the Global Alliance for Literacy (GAL), Atchoarena said, “Our rapidly changing world calls for concerted efforts and strong partnerships to achieve quality education and lifelong learning for all. Huawei’s expertise in innovation in learning will be a great asset to the Global Alliance for Literacy. Collaborative projects like ours will ensure no one is left behind on this journey.”

    A beneficiary of Seeds for Future Nigeria, Anthony Oshiobugie Ugheoke, who was also one of the co-hosts of the Digital Talent Summit, described the programme as a life-changing opportunity that has broadened his horizon and changed his perspectives on life, especially as it relates to ICT.

    He thanked Huawei for the unique opportunity and urged future programme beneficiaries to make the best use of the learnings to positively impact their lives, the country, and the continent at large.

    On the opportunity given to him by Huawei to co-host the summit, Ugheoke said, “I am excited to be nominated to attend the Huawei Digital Talent Summit. This is one chance that I will forever cherish as a young Nigerian to be on a global stage like this and share the stage with giants such as the Director of UNESCO’s Institute for Lifelong Learning (UIL), David Atchoarena, and the Secretary General of the African Telecommunication Union (ATU), John Omo.

  • Shuttle card brings relief to KWASU students

    Shuttle card brings relief to KWASU students

    The introduction of shuttle cards at Kwara State University (KWASU), Malete, has eased the transportation woes of students at a time the cashless policy is taking its toll on citizens – students inclusive. AYOBAMI AJOSE (KWASU) reports.

    Kwara State University KWASU) is known for the luxury and ambience it provides  her students. Improving on this image was the reason for the implementation of shuttle cards.

    To make transportation within the school environs easier, the transport unit came up with the idea of students having shuttle cards which they can always use for their movements on campus. The card owner subscribes with his card and pays with it instead of cash. This has proved to be beneficial to the students at a time  the cashless policy is taking its tolls on the citizenry and  students.

    A prominent advantage of the shuttle cards is the fact that the shuttle bus service is cheaper compared to other modes of transportation. While other transporters charge N100 per student, the price of the shuttle bus service is N80 per student. This leaves the students with a balance of N20. But most times, the shuttle bus drivers  claim they don’t have N20  to give  students and use this opportunity to deny students their balance when they pay with cash. But with the use of the shuttle cards, students are able to pay exactly the amount that is due and they are able to save the balance in their shuttle cards balance which they can use some other time.

    Another importance of the shuttle cards is the unlimited rides the shuttle bus services render within the school environs which are far more than  other transport media since they’re restricted only to the school parking lot. Some students have their departments and lecture sites at considerably distant places from the school park and they tend to trek from the school park to their lecture halls which leaves them with no choice than getting to their lecture halls late. But with the use of the unlimited shuttle buses, they enjoy the luxury of getting to their halls earlier and at a cheaper price.

    The only disadvantage associated with shuttle cards is that the number of shuttle buses on campus is relatively low compared to the number of students that are being transported to campus daily. Since students know they have to queue for long minutes and sometimes hours before they gain access to the shuttle buses, they would  rather take other options that are not so comfortable instead of getting late to classes.

    A student who craved anonymity said: “The rate at which students purchase the shuttle cards has diminished.  If the school management can look into this and provide more shuttle buses, I believe the transportation issues faced by students will be brought to an end and the purchase of shuttle cards by students will be on the increase.

  • Don urges speedy implementation of mother tongue policy

    Don urges speedy implementation of mother tongue policy

    Lagos State University Acting Head of Department of Linguistics, African Languages and Communication Arts, Dr Titilayo Onadipe-Shalom, has urged the Federal Government to speedily implement the  new National Language Policy  which makes  mother tongue a compulsory medium of instruction for the first six years of education in the country.

    In a statement to commemorate this year’s International Mother Language Day, the don tasked the government to surmount challenges that threaten effective implementation of the policy.

    She said: “While we acknowledge ongoing efforts by the government to promote indigenous languages by the approval of a new National Language Policy in November 2022 which makes the mother tongue a compulsory medium of instruction for the first six years of education in Nigeria, we seek the speedy implementation of the policy with genuine and committed efforts on the part of the government.

    “Lack of instructional materials and qualified teachers, in addition to the multitude of indigenous languages without orthographies pose a serious threat to the implementation of the policy. The government must therefore exude high level of commitment and optimism to surmount these challenges and ensure the effective implementation of the language policy.”

    Onadipe-Shalom urged citizens to live up to their cultural responsibility of promoting indigenous languages by preventing them from going into extinction through usage and patronage.

    “It  is noteworthy to state that our indigenous languages have the capacities and capabilities to meet the need of all language users.

    “Beyond communication and usage, indigenous languages are a consortium of knowledge and ideologies relevant to social and national development.

    Therefore, we call on government at all levels to support multilingual education which is necessary to transforming education,” she added.

    The don thanked  the Lagos State Government for the promulgation of the Yorùbá Language Preservation and Promotion Law which, according to her  has repositioned the indigenous language among other native languages.

    She also hailed the leadership of LASU for the implementation of the  law. This, she said,  has culminated in the establishment of the Centre for Yoruba Studies in the institution and the Senate approval of Yoruba as a compulsory course for LASU students  under the General Nigerian Studies (GNS).

    “We beseech other state governments to follow the lead of the Lagos State by enacting Indigenous Languages Protection and Promotion Law to cater for the survival and sustainability of native languages in their respective states.

    “Furthermore, we recommend that government at all levels set up trust fund to finance researches geared at documenting native languages across the length and breadth of Nigeria regardless of the meagre number of speakers of the languages  to preserve and ensure the development of these languages,” she said.

  • LASUSTECH students excited over Sanwo-Olu’s pledge fulfillment

    LASUSTECH students excited over Sanwo-Olu’s pledge fulfillment

    Students at Lagos State University of Science and Technology (LASUSTECH), Ikorodu, Lagos, are excited at the buses donated by Lagos State Governor Babajide Sanwo-Olu. SAFIU KEHINDE and ADEBAYO NURUDEEN (LASUSTECH) report.

    Lagos State Governor Babajide Sanwo-Olu has started fulfilling promises made to students at the Lagos State University of Science and Technology (LASUSTECH). He donated four fairly-used buses to the school earlier this month.

    This came few weeks after the students, mobilised by the Students Union Government (SUG) attended the mega rally organised by the Governor’s Special Adviser on Education, Hon. Tokunbo Wahab at Onikan Stadium in Lagos to  support  Sanwo-Olu’s second term ambition.

    The 29-seater high capacity buses are in very good condition.

    Sanwo-Olu  during a visit to the school August last year, had promised them buses upon request by the former Students Union Government president Balogun Aderemi.

    Aderemi had made four  requests on behalf of the students  which included provision of bus, renovation of the SUG building, construction of sporting complex and addressing the speculations surrounding the increment of school fees ahead of the 2022/2023 academic session.

    The governor said: “To your president’s request. He has asked for four things. Because I am a daddy that also listens, so I will take each of them quickly.

    “The first one is that he said you need a means of transportation from Isolo Campus to Ikorodu Campus. Because I am here today, I will make available two big buses for you. Before the end of September, your buses will be here.

    “The second request is that you want me to renovate your Students Union Building. If you go to LASU, they have the biggest Union building in this country. So be patient with me. We will first renovate the current one, but we will take time to come and build a purpose building for your Students Union.

    “We are concurrently building eight mini stadia in Lagos. There is one we are building in Igbogbo. But because I am inside your campus, I will work with the office of Sustainable Development Goals and we will see how we can, very quickly, bring a small Sporting Complex into your university.”

    He also promised to make  free  Wireless Fidelity (WiFi) available on campus.

    However, the students are delighted as they hailed the governor.

    A student, Ajagbe Abayomi Sodiq, said it would really help students.

    An HND 2 student who simply identified himself as  Emmanuel, also hailed the governor.  He said they had long expected the donation.

    Ibaheem Ganiyu, a Banking and Finance student, said:  “It will reduce inconvenience. I don’t think there is any ulterior motive and I am glad he fulfilled his promises.”

    Public Relations Officer of the school, Dr Olanrewaju Kuye,urged the students to be grateful to the governor for fulfilling his promise.

    “We should be grateful to  the governor for delivering on his promise.Whether new or not new, the buses belong to the state government, the university belongs to the state government , it is just about passing a property  from one sector to another.

    “If you recall sometimes, the governor was here to inspect a project–the ongoing administrative block. He did promise that day that he will do. Our governor is talk and do. Whatever he says, no matter the timeframe, he will surely do. He promised two buses, now we have four. That is a plus for us.

    The buses will be used by all students; both university students and polytechnic students belong to the state government,” he said.

    Students Union Government Public Relations Officer, Hassan Nurudeen, said: “He promised to give out two buses to the institution and we keep following it up. We kept asking them anytime we had the privilege to meet with anyone who we know is influential to that office. We always used that opportunity.

    Nevertheless, the  buses are to serve the purposes of conveying students for  academic and special assignments.They are in  good condition and not being new doesn’t mean they are  badly used. The  windows are clean, and the  seats are well fixed.”

    President of the National Institute of Mechanical Engineers (LASUSTECH Students Chapter), Olamoyegun Fuad, praised the governor for acknowledging the influence and role of youths in politics.

    “It is a good one the governor understands the power of the youth, the strength in the number of Nigerian students which is possible in taking him  out of office or a means of re-electing him. It is a win-win situation for students and the governor. He gets our votes and the buses take care of the transportation need of  students.”

    Similarly, the National Union of Lagos State Students’ President (LASUSTECH Chapter), Oduga Fawaz, said though the buses appear fairly used, it is still quite understandable.

    For NULASS Public Relations Officer, Hunpe Yeramaren,  the donation was not politically motivated. He lauded the governor for fulfilling his promise.

    “The bus is not for campaign, neither for his re-election, he donated it because he made promises and the school and students need it to foster academic excellence,” he said.

    Aderibigbe Aishat, a 100-Level  Chemistry student, noted that  she was delighted,though it could have come earlier.

    paign-oriented, stressing that the SUG had  been pestering the state government

    Another 100-Level student, Ololade Taofeek, said  the donation would make  students support  the governor.

    His words: “The students will be anxious and excited to vote for them so they can do more.”

    Falae Gbolahan, a Mass Communication student, disagrees that the donation was election-driven.

    His words: “Generally, everybody will  think it is for the election because of the timing.  I think he (the governor) is just concerned with the students’ wellbeing. Since it is of students benefit, why won’t he  do it?”

    SPY, students mobilise for Sanwo-Olu

    Sanwo-Olu Progressive Youth (SPY), has mobilised for Lagos State Governor Mr Babajide Sanwo-Olu in nine local government areas of the state. This was aimed at generating massive votes in Saturday’s governorship election.

    The group is a grassroot initiative made up of youths and students.

    It organised a door to door campaign by giving palliatives to students, artisans, market women, others.

    Convener Ibikunle Sanwo-Olu and co-convener, Olalere Samuel Owoseni, in a statement noted that the governor deserves a second term for his contributions to the development of Lagos and particularly for placing a premium on students’ welfare.

    “We toured nine local governments in the state including, Alimosho, Mushin, Iba, Ojo Badagry, among others. Lagos State University students were heavily involved. This was to sensitise  the people on how the governor had impacted students, artisans, market women, entrepreneurs and others. Sanwo-Olu is a lover of youths, students and quality education,hence we had to mobilise youths and students for the campaign.

    We want everyone to   come out en masse on Saturday to vote  for him to continue the good job he has been doing,” they said.

  • Campaign DG: Why Ishaku lost his senatorial election

    Campaign DG: Why Ishaku lost his senatorial election

    As Taraba prepares for a tough governorship contest on Saturday, there is much to reflect on about the recent presidential and National Assembly elections. In this interview with VICTOR GAI, the Director-General of the Governor Ishaku Senatorial Campaign Organisation, Andetarang Iranmae, spoke on why Governor Darius Ishaku lost his senatorial bid, the controversial endorsement of the Peoples’ Democratic Party (PDP) governorship candidate by the Christian Association of Nigeria (CAN) and the chances of the party at the poll.

    How can you rate the performance of your party in the recent presidential and National Assembly elections?

    In the last elections, the PDP performed creditably; and this is consistent with our past performances. The PDP clinched two senatorial seats, and three in the House of Representatives. One House of Representatives election is inconclusive. We are trusting God that we shall clinch that one too to make it four.

    One noticeable setback for the party was the loss of the senatorial bid of the governor. The Labour Party (LP) also performed well, by making inroads into areas that used to be your strongholds. How concerned are you about these setbacks?

    I am very concerned. I coordinated the governor’s campaign in southern Taraba. We did our best, but the best that one can do can never change the mindset of God on an issue. If human effort was enough to give a person a thing, nothing would have stopped Darius Ishaku from becoming a senator. But how it happened, we are still at a loss. We are taking consolation in the act of divine predisposition.

    Observers say your party has been in disarray since the primary that produced your governorship candidate. For instance, people like the former chairman, Victor Bala Kona seem dissatisfied with happenings in the party. Former speaker of the House of Assembly, Joseph Albasu Kunini (Al-Kinjoh) resigned under controversial circumstances and Danladi Baido defected to the SDP, among several others who are aggrieved over the primary. How do you intend to achieve victory on Saturday with a divided house?

    Well, I beg to disagree with your choice of words. When you say the party is in disarray, I vehemently say no! Mind you, you are speaking with the PDP spokesperson. That word, disarray, can only be used when you are speaking with the APC spokesperson. The PDP is intact in Taraba. I tell people that whatever happened after our primary was siblings’ squabble. We have gotten over it. The last time I checked, Chief Victor Bala Kona was on our campaign train to Sardauna. The former speaker, Professor Al-Kinjoh played a very key role in the emergence of Senator Shuaibu Lau as the senator of Taraba North. So, I don’t know where you got your information from. So, the PDP is on the course; we had issues that arose from the primary but we have gotten over them and by the grace of God, by Saturday 18th of this month, the PDP will win again and continue to control the government of Taraba State. We have seen the indicators.

    The Christian Association of Nigeria (CAN) has recently endorsed your candidate, Col. Agbu Kefas which has created uproar, especially within the opposition camp.  What is your reaction to this development?

    You see, I hate dishonesty. CAN is an interest group with her mandates and expectations. Anybody who is into any form of race is interested in syndicate endorsement, including those who are making noise, such as Senator Bwacha, Honourable Baido and a host of others. They have approached several other groups, including CAN for endorsement. So, if CAN did her assessment and came to the conclusion that the PDP candidate is credible and deserving of her endorsement, why should people be saying what they are saying? Recently, the Labour Party (LP) that you just mentioned here endorsed Col. Agbu Kefas. There are lots of political parties that dropped their governorship ambitions and endorsed Col. Agbu Kefas. So, it is a normal thing; if somebody is a Christian by accident or by birth or by profound conviction, that person should respect the voice of CAN. It is an umbrella organization that seeks to build cohesion in Christendom. It has leadership. Why should you question the leaders of CAN? If they had endorsed you, would you have said that? So, we should begin to build a culture of integrity, a culture of obeisance towards our leaders than to promote ego… If it is not me, let the worst happen. It is unfair!

    You once alluded to the fact that there are ‘unseen hands’ in how governors emerge in Taraba State and that desperate people never get the seat. Do you see that coming to play this time around?

    Rather than put it in the form of a question, you would have said ‘you have been vindicated’. Yes, I am vindicated. I told you that who becomes governor of Taraba State is not a function of enterprise or human ingenuity. It is God that decides it ultimately. As a PDP person, I never in my wildest dream thought Col. Agbu Kefas would be our candidate because he was our chairman. But today he is our candidate which was what I told you. The choice ultimately resides with God and we thank God for the emergence of Kefas as the PDP governorship candidate.

    Saturday is D-day and the PDP has strong opposition in the APC governorship candidate, Senator Emmanuel Bwacha. He was once your member and the senator representing your constituency. You know his pedigree, his grassroots connection and his political sagacity. How do you fancy your chances in the contest?

    One thing is highly deceptive in this political game and if you are not careful, you will fall into a delusion. When you begin to have the feeling that I, because of my charisma, don’t need people to make me, there is a problem there. Senator Emmanuel Bwacha; I have tremendous respect for him. We worked closely when I was the zonal chairman of southern Taraba. We are not fretting at all because we all know where we are coming from. Formidability is a relative term. You may have attended a press conference yesterday, where the APC was crying foul that the PDP has concluded plans to rig the election. It is a case of a kettle calling the pot black. If there is any political party that does not believe in doing things correctly, it is the APC. Look at Taraba here; how their primary went, even the last presidential election. Well, it didn’t come to us as a surprise because that is their stock in trade. The PDP has never contemplated rigging elections. We believe in God and we resort to the people. We place our issues before them, call their attention to what we have been able to do and let them judge. To us, INEC and security operatives are partners in progress in our quest to deepen democracy in Nigeria. We don’t believe in manipulating them. These are institutions that need every encouragement to be strengthened. And the best way to do this is to collaborate with them and not manipulate them. That is what the PDP is after. So, by the grace of God, come 18 of this month, the PDP will win again. Remember Taraba is a PDP state. All this desperation is aimed at distorting the history of this state. God will not give them the chance. Our preparation is borne out of our track record. Jolly Nyame worked for the people, Danbaba Suntai succeeded him and worked for the people, Darius Ishaku succeeded him and worked for the people, and Agbu would succeed him and also work for the people.

  • ‘Re-electing Sanwo-Olu will complement Tinubu’s victory’

    ‘Re-electing Sanwo-Olu will complement Tinubu’s victory’

    The Grand Patron of Coalition of Muslim Women for Asiwaju (CoMWA) Dr. Nurudeen Olaleye, said Governor Babajide Sanwo-Olu is the best among contenders for the seat of power in Alausa.

    Olaleye expressed optimism that the governor will be re-elected on Saturday.

    According to him, it will be a disservice to the great effort the president-elect Bola Ahmed Tinubu has put in place in Lagos if his party is not returned.

    Olaleye said re-electing Governor Sanwo-Olu would complement the victory of Tinubu at the federal level.

    He said: “Lagos is one of the most secure states in the country and we want to ensure that the trend continues beyond the election across the state. This administration has put its footprints in all sectors including education, health and infrastructure.

    “COMWA has representations across the state and network, so we will be using the group’s network to reach out to the people on the need to vote for Sanwo-Olu and all APC House of Assembly candidates. We will be working from mosque to mosque, to get the message to our people. And I can assure the governor that there will be massive votes in his favour,” Olaleye assured.

    First Vice Chairperson of COMWA, Sherifat Yusuf-Ajibade, said the group support is not based on religion but on the equity that the government has brought to Lagosians.

    “We don’t want religion to divide us. We understand that this is a winning team. This is a man that understands the importance of rule of law. We are mobilising our people to cast their votes for Sanwo-Olu,” she said.

    Member of the group, Rofiat Akinyemi, a lawyer, urged Lagosians to come out on Saturday to vote for Sanwo-Olu.

    She said: “We are assuring Sanwo-Olu and his deputy, Obafemi Hamzat of our support and mobilisation for the poll. We will ensure that more people get to understand the benefits that await them for voting Sanwo-Olu.”

  • Investors jostle for NTBs as govt steps up borrowings

    Investors jostle for NTBs as govt steps up borrowings

    Investors staked N906.21 billion on the Nigerian Treasury Bills (NTBs), more than quadruple of government’s offer, providing headroom for government to increase its initial offer by 44.5 per cent.

    Closing report on the latest primary market auction of the NTBs conducted by the Central Bank of Nigeria (CBN) showed that the government had offered N224.50 billion across three tenors of 91-day, 182-day and 364-day NTBs.

    Total subscriptions by investors however peaked at N906.21 billion, an increase of 303.7 per cent on the initial offer size. With the strong liquidity, the apex bank fully allotted its offers of N1.03 billion and N10.55 billion for the 91-day and 182-day NTBs respectively. It increased allotment for the 364-day NTBs from the initial offer size of N212.92 billion to N312.92 billion.

    The report showed that stop rates for the 182-day and 364-day cleared higher at 6.00 per cent and 10.00 per cent respectively. However, the stop rate for the 91-day tenor cleared lower at 1.44 per cent.

    The federal government had raised about N2.13 trillion in new debts from the domestic capital market within the first two months of this year.

    Data obtained by The Nation’s Economic Intelligence had shown that the government has stepped up its borrowings across all instruments as risk-averse investors crowded around sovereign debt issuances.

    The data indicated that the government raised N2.129 trillion between January and February 2023 through regular bond issuance, the retails savings bonds and treasury bills.

    Faced with sovereign downgrades by global rating agencies, with attendant higher risk profile and cost for international debt issuances, there were indications that government might have narrowed down to the domestic capital market to raise N8.8 trillion regular debt component of the 2023’s N10.78 trillion deficit.

    A breakdown showed that government raised N1.189 trillion in February, 26.4 per cent above N940.62 billion raised in January 2023.

    In January 2023, government raised N662.617 billion through its regular bond auction, N277.468 billion through the Nigerian Treasury Bills (NTBs) and N533.03 million through the Federal Government of Nigeria Savings Bonds (FGNSBs), a retail monthly debt issuance introduced in 2017.

    Last month, the government raised N770.56 billion through bond auction, N417.064 billion through NTBs and N1.271 billion through the FGNSBs.  

    Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, at the public presentation of the breakdown and highlights of the 2023 budget proposal, said the overall budget deficit of N10.78 trillion for 2023 would largely be financed through domestic loans.

    She outlined that the budget deficit would be financed mainly by borrowings including domestic sources, N7.04 trillion; foreign sources, N1.76 trillion; multilateral and bi-lateral loan drawdowns, N1.77 billion and expected N206.18 billion proceeds from privatization of national assets.

    While experts agreed that rising demand for sovereign debts provides government with a comfortable fallback option, many analysts said government’s domestic mop up may crowd out other issuers and raise cost of fund.           

    The February 2023 issuances illustrated the crowded demand for sovereign debts. Transactional report for the February 2023 bond auction indicated that the bond auction received a total bid of N992.11 billion, about 176 per cent above government’s offer size of N360 billion.

    Government had offered to raise N90 billion each across four tenors of bonds but three of the four bonds were overwhelmingly oversubscribed, providing the government headroom to mop up more funds.

    The bid-to-cover ratios for the 10-year FGN FEB 2028, 10-year FGN APR 2032, 20-year FGN APR 2037, and 30-year FGN APR 2049 bonds were 3.29 times, 0.87 times, 3.30 times, and 3.57 times respectively.

    The Debt Management Office (DMO), which oversees the issuance and management of Nigeria’s sovereign debts, increased allotments across the three oversubscribed bonds, while reducing allotment for the undersubscribed bond.

    The government allotted N257.41 billion to investors in the 10-year FGN Feb 2028 bond as against total subscription of N296.214 billion, N51.12 billion to the undersubscribed 10-year FGN Apr 2032 bond, which recorded total subscription of N77.998 billion; N220.56 billion for the 20-year FGN Apr 2037 bond as against total subscription of N296.619 billion and N241.47 billion was allotted to the 30-year FGN Apr 2049 bond, which had the highest subscription of N321.274 billion. The marginal rates for the bonds were 13.99 per cent, 14.90 per cent, 15.90 per cent and 16.00 per cent respectively.

    Analysts at Arthur Steven Asset Management noted that the total subscription of N992.11 billion in February was higher than N805.17 billion total subscription recorded in January 2023, an increase of 23.22 per cent.

    Analysts attributed the increase in subscription to increase in liquidity and strategic portfolio positioning for the year.

    According to analysts, the subscription for the long-tenored 2049 bond showed that more investors still prefer longer maturities despite the downgrade of the country’s credit rating.

  • APC chieftain urges Buhari to sack Emefiele, Malami

    APC chieftain urges Buhari to sack Emefiele, Malami

    All Progressives Congress (APC) chieftain in Edo State Prince John Mayaki has urged President Muhammadu Buhari to sack Central Bank Governor Godwin Emefiele and Attorney-General and Minister of Justice  Abubakar Malawi.

    He told reporters in Abuja that Emefiele should be punished for not obeying the Supreme Court judgment on the validity of the old naira notes until the end of the year, eleven days after the verdict was delivered.

    Mayaki said: “To fully redeem himself and prove his non-involvement in the evil conspiracy against ordinary Nigerians and small businesses across the country, he must, in line with his constitutional powers and obligations as the nation’s leader, hold those responsible for this sabotage to account.

    “Mr. President must go further and beyond the statement and take actions and measures that will restore confidence and hope in the judiciary and our battered economy. That begins with an immediate sack of Mr. Emefiele and Malami Abubakar.”

    Mayaki said obedience to the Supreme Court judgment is not enough,  adding that the apex bank make Naira available without any inhibitions.

    He said the unnecessary queues must immediately disappear from the banks, filling stations, ATMs, hospitals, markets/shopping malls, PoS, among others.

     Recalling the genesis of the crisis, he said:” Nigerians, the APC and the President-elect, Asiwaju Bola Ahmed Tinubu were discernible enough – they noticed the secrecy with which the policy and its implementation was conceived with and they staunchly criticised it but those hellbent in sabotaging the fragile economy of the country went ahead to inflict pains on the hapless masses.

     We’re all witnesses to the attendant death, violence, arson and killings of innocent Nigerians and destruction of Banks which the unnecessary policy of Godwin Emefiele caused and Nigerians are unanimous that he should be made to account for it.

     Again, on why Mr. President must go the extra mile to extricate himself and sack the CBN Governor, Mr. Godwin Emefiele is this – would the presidency also claim Mr. President was not aware that the CBN Governor openly identified with the APC as a political party and through cronies, allowed himself to be enrolled as a Presidential aspirant under the APC? Is this not against all professional, moral and ethical norms?

  • Integrate young persons in next cabinet, Afenifere youths to Tinubu

    Integrate young persons in next cabinet, Afenifere youths to Tinubu

    Youths in the Southwest geopolitical zone under the aegis of the Yoruba Afenifere Youth Organisation of Nigeria (YAYON) have urged the President-elect, Asiwaju Bola Ahmed Tinubu to ensure youth inclusion in the next cabinet. The group said youth inclusion in the federal cabinet will go a long way in reducing social unrest across the country.

    This was contained in a statement jointly signed by the Yoruba Youth National Leader, Comrade Eric Oluwole; leaders of Yoruba Youth Alliance, Mr Lekan Wilki; Yoruba Youth Community Policing, Mr Abiodun Rosanwo, representative of Yoruba Afenifere Youths, Mr Adewale Adeyemo; and the leader of Congress of Yoruba Youths, Mr Yinka Adedugbe.

    In the statement, the Yoruba YAYON also warned those alleged to be planning mayhem after the governorship election to desist from doing so. The group said it has set up a monitoring team to fish out troublemakers and report them to security operatives.

    The umbrella body of youth organisations from the Southwest also congratulated Tinubu, on his victory in the February 25 presidential election. The group said: “We join our Afenifere leader worldwide; Pa Reuben Fasooranti to congratulate Asiwaju.”

    The Afenifere Youth Organisation helped to mobilise thousands of supporters across the Southwest region months before the presidential election.

    The group warned people allegedly planning to jeopardise the ongoing efforts of the Independent National Electoral Commission (INEC) from putting in place a more credible electoral system that will help greatly in stabilising Nigeria’s democracy through free and fair elections.

    The statement said: “The Yoruba youth groups came together under the Yoruba Afenifere Youth Organisations of Nigeria (YAYON). We join our Afenifere leader worldwide, Pa Reuben Fasoranti to congratulate Asiwaju Bola Ahmed Tinubu, an illustrious Yoruba son and a leader of superlative qualities who ranks among the brightest stars, for emerging victorious in the last presidential election as the incoming president of Nigeria.

    “We strongly believe that Asiwaju Tinubu, as president, will use his exceptional leadership traits to address the prevailing worrisome challenges confronting Nigeria, which have their roots in the unjust, lopsided and imbalanced federal system imposed by the military, which, for many years, has been suppressing the noble aspirations of our people, and thereby has been stifling the true development of the generality of our country’s composite ethnic groups and dragging us backwards.

    “Like our revered leader, Pa Reuben Famuyide Fasoranti counselled Asiwaju to be a true federalist who will restructure this country, we equally call on our  President-elect to hearken to the long-term popular cry of our people across the length and breadth of our motherland for an urgent restructuring of Nigeria into a true federalism where every citizen will be given equal rights; where no citizen will again be subjected to any discrimination based on his language, religion or social status; and where true justice, fairness and egalitarianism shall prevail for all indiscriminately.”

  • Groups says Sanwo-Olu, Hamzat remain best option for Lagos

    Groups says Sanwo-Olu, Hamzat remain best option for Lagos

    • Urges Lagosians to reject “half-baked candidates”

    A group, the Omoluabi Renaissance Movement (ORM), has endorsed the candidatures of the Lagos State Governor, Mr. Babajide Sanwo-Olu and and the Deputy Governor, Dr. Kadir Obafemi Hamzat for second term in office ahead of Saturday’s governorship election.

    The group made the endorsement immediately after an emergency meeting held in Ikeja stating that the duo has exhibited high sense of responsibility and accountability in their first term in office and have executed legacy projects which can be stalled with the posturing of “half-baked candidates’ jostling for the Alausa Glass House.

    The endorsement of the duo was contained in a statement by the ORM Convener, Dr. Opeyemi Ade-Ibijola and the Director of Communications, Hon. Rotimi Opeyeoluwa which was made available to journalists on Tuesday.

    The body stressed that Sanwo-Olu and Hamzat have exhibited the uncommon Omoluabi ethos in the last four years of their stewardship to Lagosians and have proven that good governance is both possible and attainable.

    The ORM maintained that Lagos have proven since pre-independent Nigeria as the bastion of progressive politics and be allowed to be hijacked by reactionary forces masquerading as democrats is simply unacceptable and too huge a price to be paid.

    The group said it is important for all people of good consciences and sound judgement to ensure that they troop out on Saturday to ensure that the pair of Sanwo-Olu and Obafemi Hamzat are returned to continue the good works which they started in 2019.   

    According to ORM, the duo’s sterling performance and commanding respect for the interest of all in Lagos have shown them as matured, stable, visionary and progressive minded adding that “Lagos is indeed in good hands and that being the cultural and progressive capital of politics in Nigeria, the people of Lagos are enjoined to ensure that they are re-elected.”

    Ade-Ibijola said: “It was important for the people of all creed and all ethnic diversities should ensure that the duo is returned to office with the assurances that they will maintain with they good works that they have been reputed for.

    “The election was too important to be gambled with especially when some jokers are angling to sow seeds ethnic mistrust and disharmony in a cosmopolitan city such as Lagos, where all have lived-in for ages in peace and harmony.”

    Opeyeoluwa said: “The people of Lagos have re-affirmed their preference for good governance, continuity and track-record since 1999 and cannot afford to allow some misfits roll back the hands of the clock at this crucial moment in the political history of Nigeria and Lagos in particular.

    “We will continue to embark on our avowed mission to ensure that the duo is returned to office in a peaceful manner in the face of brazen attacks and prejudices been thrown around and about by a ‘vocal few bent on the capture of Lagos’ by all means.”

    The ORM also congratulated the President-Elect, Asiwaju Bola Ahmed Tinubu on his presidential election victory wishing him a most rewarding tenure in office when he resumes office on May 29.