Category: Featured

  • CBN restructures forex bidding process

    CBN restructures forex bidding process

    A new foreign exchange (forex) bidding regime that will give priority to local manufacturers and stimulate job creation is underway, Central Bank Governor Godwin Emefiele, said yesterday.

    Emefiele, who spoke in Abuja yesterday at the launch of the 100-for-100 Policy for Production and Productivity (PPP), said: “The new FX bidding regime will be market-driven and intended to support companies that accord utmost priority for our local production and job creation drive.”

    He said the mission of Central Bank of Nigeria (CBN) through the 100-for-100 PPP initiative, “is to ensure that priority is accorded to companies that display verifiable progress in our imports substitution and job creation drive,” saying the bank “will continue to provide all the needed support, both in Naira and dollars specifically for the importation of plants and equipment to actualize these investments.”

    He pointed out that “the foreign exchange support will be solely for the importation of spares, plants and equipment needed to increase production capacities of these companies”.

    The 100-for-100 policy is one of the apex bank’s interventions designed to fast track productive activities in priority sectors.

    Under the programme, eligible applicants will be required to submit their applications to their banks, after which, a notification is submitted on a dedicated portal – https://100for100ppp.ng, which has been created to ensure transparency and allow applicants the benefits of tracking the status of their applications.

    Also, eligible companies in priority sectors will be screened and 100 companies will be selected to receive funding from the CBN every 100 days, beginning from November 1, last year.

    The selection of subsequent beneficiaries will be rolled over every 100 days with new sets of 100 companies and details of these companies will be published in the major national dailies.

    Based on the criteria, the CBN governor said for this first cycle, 243 applications, valued at N321.06 billion, spread over key sectors, such as agriculture, energy, healthcare, manufacturing and services sectors were submitted on the portal, adding, “after much engagement, 79 applications were received from banks, valued at N121.87 billion, for projects in six (6) sectors, namely agriculture, energy, healthcare, manufacturing, mining and services sectors.”

    After screening the requests against a set-out selection criteria categorised into: production efficiency and scalability; local content capacity; job creation and human capital development; operating sector relevance; and potential contribution to economic growth, 28 companies with projects that have been clearly articulated, were selected for funding.

    These projects, Emefiele said are, valued at N23.20 billion, comprising 14 in the manufacturing sector, 12 in the agricultural sector and two in the healthcare sector, saying “when fully operational, these projects are expected to create over 20,000 direct and indirect jobs across multiple sectors of the economy, as well as generate close to $125.80 million in foreign exchange earnings.”

    Five of the selected projects are greenfield projects that would exploit the huge opportunities in key sectors of the economy.

    Labour and Productivity Minister Dr. Chris Ngige said the 100-for-100 PPP initiative aligns with government’s desire to lift 100 million Nigerians out of poverty.

    “We have no choice but to embrace productivity stimulating measures,” the minister said.

    Ngige lamented that youth unemployment created the proliferation of ethnic militia like the Avengers (a militant group in the Southsouth), Independent Peoples of Biafra (IPOB) in the Southeast and Boko Haram insurgents in the Northeast and bandits in Northwest and Northcentral, among others.

    He said: “We have not adequately diversified, we have to change the narrative, while the fiscal and monetary authorities should harmonise their efforts,” the minister said.

    The Managing Director of Access Bank, Herbert Wigwe, pledged the readiness of commercial banks to support the initiative with all the resources at their disposal.

  • Agency detains Medview Airline MD Bankole

    Agency detains Medview Airline MD Bankole

    The Economic and Financial Crimes Commission (EFCC) yesterday detained the Managing Director of Medview Airline, Mr. Muneer Bankole.

    Bankole is expected to account for over $900,000 linked to Hajj operations.

    The transactions between him and the National Hajj Commission of Nigeria (NAHCON) took place in 2019.

    According to a fact-sheet available to The Nation, Bankole, was at the commission’s Abuja office yesterday on the invitation of the EFCC. He arrived at the complex by 11am.

    The fact-sheet reads: “The MD was invited by the anti-graft agency over a case of alleged diversion of 50 percent of funds paid to him by the National Hajj Commission, and additional $900,000 USD, for the airlift of pilgrims in 2019.

    “He allegedly received the funds as mobilization but did not execute the contract.”

    When contacted, the Head of Media and Publicity of EFCC, Mr. Wilson Uwujaren, confirmed the arrest.

  • Luke disagrees with Gov Emmanuel’s over preferred successor

    Luke disagrees with Gov Emmanuel’s over preferred successor

    Chairman House of Representatives Committee on Judiciary Onofiok Luke has opposed Akwa Ibom Governor Udom Emmanuel over his choice of preferred successor.

    Emmanuel, on Sunday night in a stakeholders’ meeting, named his Commissioner for Lands and Water resources, Umo Eno as his preferred successor.

    But Luke, who is one of the governorship aspirants in the forthcoming race, said he would not back down on his aspiration, insisting that he remained resolute in his determination to contest.

    His words: “My supporters and those sympathetic to my cause should please note that we are as resolute as ever in our desire to give our people purposeful leadership in the office of the Governor come 2023.

    “God’s Amazing Grace has always seen us through and will always see us through.

    “I am not against the choice of the Governor coming from my local government, Federal Constituency or the aspiration of my brother.

    “However, as a fellow aspirant from the same local government at the same advantage when successful, my aspiration to serve the state in the capacity of the Governor remains on course.”

    The immediate past National Legal Adviser of the People Democratic Party (PDP), Barrister Emmanuel Enoidem, explained the choice of Eno came after Governor Emmanuel consulted all relevant stakeholders in the State-backed up with prayers.

    He explained that the choice of Umo Eno is dream come true for the organisation (Maintain Peace Movement), which has been praying for God to give Akwa Ibom a successor like Udom Emmanuel who will perpetuate and sustain peace in the State.

    ”So, God has revealed to our dear Governor Udom Emmanuel that Pastor Umo Eno will be the right person to succeed him after his tenure in 2023.

    READ ALSO: A’Ibom 2023: Gov Emmanuel endorses Umo Eno as successor

    “We all know that Udom Emmanuel was not the most popular politician in 2015 when he was brought to us by God to contest for the position but he got the acceptability of the people and finally emerged the Governor of the state in 2015 and 2019. So, it is the grace of God and His will also that Umo Eno should succeed Udom Emmanuel and we stand by that,” he stated.

    While extolling the virtue of Umo Eno, Enoidem noted he is the most qualified with an intimidating pedigree and antecedents as a renowned entrepreneur.

    The immediate past National Legal Adviser of PDP revealed that Umo Eno is humble and understands the plight of Akwa Ibom people as a human development expert

    However Chairman of the Civil Society Organisation in Akwa Ibom, Mr Harry Udoh said Governor Emmanuel has the right to support whoever he wants to succeed him in 2023.

    In a chat with newsmen, he said the Governor’s endorsement of one aspirant does not foreclose the chance of others as there are primaries and general elections where the aspirant will face other contestants.

    “That’s the governor’s choice and it is within the governor’s remit to support whoever he wants and that’s not the choice of Akwa Ibom people.

    “There’s still the primary election to be won and theirs still the general election to be won. Anybody can choose anybody, it is left for the people to decide, I think that’s what democracy is all about.

    “The Governor can go ahead and dream the dreams he wants and see visions he wants but that is not the dream and vision of the people.

    “The people have to decide at the end of who should be Governor. We can’t argue with the governor, I have my dreams and visions too likewise every other person,” he said

  • BREAKING: NASS transmits Electoral Bill to Buhari for assent

    BREAKING: NASS transmits Electoral Bill to Buhari for assent

    The Clerk to the National Assembly, Arch. Olatunde Amos Ojo, on Monday, transmitted the Electoral Act (Amendment) Bill to President Muhammadu Buhari for assent, The Nation has learnt.

    A source confided that the Bill is now with the President.

    The Nation had reported that the Bill would be transmitted today.

    Read Also: Governors lead opposition to reworked Electoral Bill

    The President in December vetoed the Bill, leading to a fresh amendment of the Bill by the National Assembly.

    It is however uncertain if the President would assent to the reworked Bill.

    This followed report that Governors are not happy with the new amends and plan to prevail on the President not to sign it.

    Details shortly…

  • Why FG detains Kanu indefinitely, by IPOB

    Why FG detains Kanu indefinitely, by IPOB

    The Indigenous People of Biafra (IPOB) has accused Federal Government of detaining its leader, Mazi Nnamdi Kanu indefinitely over his refusal to accept properties and monetary inducement offered him to abandon the Biafra struggle.

    The group also alleged possibly infiltration of its ranks in order to destroy it from inside while its leader remained in custody.

    In a statement by its Media and Publicity Secretary, Emma Powerful, IPOB further accused the Federal government of lobbying the international community to enlist support against Biafra liberation.

    It vowed that the various ploys would not succeed, stressing that Biafra remained a divine project which had gone beyond individuals, including its leader.

    The statement reads in part: “Our attention has been drawn to the secret plans by the Buhari government and his Fulani kinsmen to illegally detain our leader Mazi Nnamdi KANU for as long as possible.

    “Their annoyance with our leader is his blunt refusal to take properties and monetary inducement offered him to abandon the struggle for Biafra liberation.

    “The Federal Government decided to hold our leader indefinitely to see if it can possibly infiltrate the ranks of our great movement and destroy it from inside while our leader is in custody.

    “The Federal Government is also relying on the promise by some traitors and black sheep in America and Europe that they would assist it realise the evil plot. The promise was made to the federal government during their secret visit to Aso Rock last December.

    Read Also: Asari Dokubo attacks Nnamdi Kanu, IPOB again

    “We are also aware that the Federal government has been lobbying the international community to enlist their support against Biafra liberation but they won’t succeed.

    “Therefore, anybody distracting or causing division in the IPOB family is a tool knowingly or unknowingly working for the Federal Government of Nigeria.

    “The fact remains that Biafra is a divine project. It has gone beyond any single individual including our leader. Millions of the oppressed Biafrans youths home and abroad are now more aware and conscious than ever. It’s only a matter of time. Biafra MUST come. It can only be delayed but certainly not suppressed.

    “Our leader Mazi Nnamdi KANU must be released unconditionally. So, the Federal Government won’t achieve their aim because our leader Mazi Nnamdi KANU and IPOB members committed no crime known to law both locally and internationally.”

    The group also alleged plans by Department of State Services (DSS) to detain and torture three Igbo women in solitary confinement following their refusal to lie against Kanu.

    It added: “Again, we want to raise the alarm that the Department of State Services, DSS has concluded plans to hold and keep torturing three innocent Igbo women in solitary confinement without allowing them out of their tiny cell at all.

    “These innocent women were being held under such condition because they have refused to lie against our leader Mazi Nnamdi KANU, so the DSS intend to break their spirits.

    “The DSS is going to courts and obtaining black market orders to detain Biafrans indefinitely. And one of the judges issuing such orders is Justice Maha of Federal High Court Abuja. The world should be aware of this. They must be made to account for their crimes.”

  • Olubadan succession row: High Chiefs withdraw suit

    Olubadan succession row: High Chiefs withdraw suit

    Members of the Olubadan-In-Council have withdrawn their suit challenging the consent judgment that nullified their elevation to beaded crown-wearing Obas to end the controversy and delay in enthroning a new Olubadan of Ibadan land.

    The High Chiefs were said to have formally written to the Court on Monday of their intention to withdraw the suit.

    The consent judgment had nullified their 2017 elevation through a review of the 1959 Olubadan Chieftaincy Declaration.

    The review, which was carried out by the administration of the late Governor Abiola Ajimobi, elevated High Chiefs and some Baales as Obas.

    But one of them, the Osi Olubadan High Chief Rashidi Ladoja, challenged the review in court.

    He did not receive beaded crown along with his colleagues on August 27, 2017.

    The late Olubadan Oba Saliu Adetunji also challenged the review in court.

    They argued that only the Olubadan, and not the government, has the right to review the chieftaincy system.

    But the High Chiefs challenged the judgment in court, saying they did not participate in the agreements that produced the consent judgment.

    The legal issue has created a controversy on who succeeds Oba Adetunji since his demise on January 2.

    While Ladoja and others insisted that the next-in-line High Chief Lekan Balogun cannot be enthroned because of the suit, Balogun and other High Chiefs insisted that the 2017 review and the Court case did not affect the traditional succession as laid down in the chieftaincy declaration.

    It took Governor Seyi Makinde’s intervention for both sides to reach a truce.

    READ ALSO: ‘Stop defamatory comments on Olubadan succession’

    After the meeting with the Governor, the High Chiefs met and agreed to withdraw the suit to allow a peaceful succession.

    In the letter dated 30th January 2022 signed by all the eight High Chiefs promoted as Royal Majesties by the late Governor Ajimobi, they said that “future reforms or reviews to the Olubadan Chieftaincy Declaration of 1957 should be kept in view for now”.

    The promoted High Chiefs, who signed the letter were Balogun of Ibadanland, Owolabi Olakulehin; Otun Balogun, Tajudeen Ajibola; Osi Balogun, Lateef Adebimpe and Ashipa Balogun, Kola Adegbola.

    Those who signed on the civil line were the Olubadan designate, (Otun) Dr. Lekan Balogun; Ashipa Olubadan Eddy Oyewole; Ekerin Olubadan, Biodun Kola-Daisi and Hamidu Ajibade who is the Ekarun Olubadan.

    The High Chiefs indicated that the review of the 1957 Declaration would be addressed during the tenure of the new Olubadan

    The latest development is expected to speed up the process of enthroning High Chief Lekan Balogun, who has been declared as the Olubadan -designate.

    Governor Makinde, who is the consenting authority, withheld his assent to Balogun’s nomination, further holding up the processes.

    In the letter of withdrawal under reference, the High Chiefs said “the withdrawal became important in order not to truncate the peace enjoyed in Ibadan”.

  • Governors lead opposition to reworked Electoral Bill

    Governors lead opposition to reworked Electoral Bill

    A row has broken out over the reworked Electoral Bill, it was learnt yesterday.

    The Bill is due to be delivered to President Muhammadu Buhari today for his assent.

    But, governors, especially those of the All Progressives Congress (APC), are leading the opposition to the reworked Bill.

    It was gathered that they will mount pressure on the President to withhold his assent until two clauses are amended or dropped.

    The clauses in contention are resignation by appointed political office holders, including ministers, commissioners and others before 2023 election primaries; and the ‘unworkable’ consensus option in picking candidates by political parties.

    It is rampant for appointed political office holders to remain in office while contesting in their party’s primaries.

    The Office of the Attorney-General of the Federation and Minister of Justice has also been uncomfortable with the re-amended bill.

    Our correspondent learnt that the governors and some ministers were not happy with what they termed as “alleged two dangerous clauses in the re-amended bill on Electoral Act.”

    The clauses include the provision for consensus and another which makes it mandatory for all political office holders to resign if they want to contest for any elective post in 2023.

    A source, who spoke in confidence, said it might be a battle of the fittest by the governors and the National Assembly this week.

    The source said the two groups have resolved to take the battle to the President, who will ultimately decide.

    The source said: “The National Assembly has inserted two new clauses on consensus and resignation by all political office holders before contesting for 2023 poll.

    “While the senators and members of the House of Representatives agreed on consensus, they recommended that before a consensus candidate can emerge, all contestants must sign a written agreement that they have consented to the adoption of such an aspirant.

    “They inserted in the re-amended bill that if one of the contestants is dissenting, no one can become a consensus candidate. Instead, all the contestants will either go for direct or indirect primary election.

    “The senators and the Representatives put the difficult clause on consensus to stop the governors from imposing any anointed aspirant. The governors can no longer work to the answer.

    “It was a subtle way of paying back the governors for rejecting direct primary. The lawmakers were unhappy with the way the Attorney-General of the Federation, Mr. Abubakar Malami (SAN), the APC Caretaker Committee and the governors swayed the President to change his mind on direct primary.

    Read Also: Electoral Bill: Lawmakers okay consensus with tough conditions

    “The lawmakers said for a long time, consensus has been in the party’s constitution but it has been observed in the breach. Now, they decided to make it a law.”

    Asked why the lawmakers opted for a tough clause on consensus, the source added: “Due to imposition by governors, 70 per cent – 80 per cent of the lawmakers at the state and federal levels do not return to legislative chambers.

    “They were more pained that those popular with the electorate were often denied tickets by governors. They are out to checkmate the governors at all cost.”

    Another source hinted that a clause to make all political office holders resign before contesting in 2023 will hurt the governors, some party leaders and ministers aspiring to seek presidential, governorship and National Assembly tickets.

    According to the resignation clause in the re-amended bill, all political office holders at the state and Federal Government level are expected to resign before the primary election for any elective office they are seeking.

    “The Office of the AGF feels if this clause or caveat is allowed in the Electoral Act, it will be discriminatory.

    “And you know it is being speculated that the AGF is nursing an ambition to be the next governor of Kebbi State. Perhaps, the AGF and other ministers are being targeted to leave the cabinet. The intra-politics in APC is affecting the passage of the Electoral Act Amendment bill into law.

    The source added: “Governors, ministers, APC members holding various offices and party leaders believe that there was no precedent for such a law in Nigeria. They claimed that resignation is only applicable when an officeholder has secured the ticket at the primary election for any elective office.

    “They see the lawmakers as inserting a backdoor method to compel ministers with aspirations to quit office.

    “But senators and Representatives do not want those in office either as ministers, commissioners and board members to use state resources to pursue their ambitions.”

    It was gathered that the President is now left to take a final decision on the Electoral Act.

    Another source said: “The governors, ministers are ganging up to prevail on the President not to sign the new bill on amendments to the Electoral Act.

    “The APC governors, who are in the majority, have secured an appointment to meet with the President during the week.”

  • BREAKING: Rumpus as Gov Emmanuel unveils preferred successor

    BREAKING: Rumpus as Gov Emmanuel unveils preferred successor

    Akwa Ibom Governor Udom Emmanuel has unveiled Commissioner for Lands and Water Resources Mr Umo Eno as his preferred successor, The Nation can authoritatively reveal.

    But his choice has created a big division in the State Executive Council and State chapter of the Peoples Democratic Party (PDP) with many members against it.

    The Nation gathered that Emmanuel unveiled Eno on Sunday night during a meeting with some selected leaders in the State and interested aspirants for the governorship post, including National Assembly members.

    The announcement ended months of speculations and tension in the State over Emmanuel’s preferred successor.

    Former Governor Victor Attah and some fathers of Faith, an association of influential church leaders in the State, it was gathered, influenced the Governor’s preference for the Commissioner.

    The Nation learnt Emmanuel invited some party elders, including some of those nursing gubernatorial ambition to the Governor’s lodge without disclosing the meeting’s agenda to them.

    But the annoucement reportedly caused a rift in the State Executive Council with some Commissioners nursing governorship aspiration very uncomfortable with the development.

    Chairman House of Representatives Committee on Judiciary Onofiok Luke said to be eyeing the governorship in 2023 reportedly stormed out of the meeting after the annoucement, sources said.

    Commissioner for Information and Strategy, Mr. Iniobong Ememobong and his Economic Development and Ibom Deep seaport counterpart, Akan Okon were absent at the meeting.

    Emmanuel’s Chief Press Secretary, Ekerete Udo, who confirmed the development to The Nation, said the action was taken by a cross section of stakeholders in the State.

    “The Governor announced that he (Eno) was the one God has revealed to him as the next Governor of the state and he was unveiled to all the stakeholders from the three senatorial districts of the State by the former governor, Obong Victor Attah, who then commended the choice.

    “It was an array of the political elders made up of Senators and House of Representatives members,” Udo stressed.

    When asked if there were some dissenting voices at the meeting on the choice of Eno, Udo said he wasn’t aware of any.

  • Popular skitmaker Isbae U faces alleged s3x-for-skits scandal

    Popular skitmaker Isbae U faces alleged s3x-for-skits scandal

    Adebayo Ridwan Abidemi popularly known as BaeU Barbie, Isbae U or just BaeU by teeming fans, is under fire for allegedly demanding s3x from ladies before featuring them in his skits.

    On Sunday, Isbae U became a subject of discussion, topping social media trends especially on Twitter with over 10,000 tweets.

    A popular gossip mill on Instagram received and posted screenshots of evidence from the ladies who spoke about their various encounters with the skit maker.

    The Nation cannot independently verify all of these claims as at time of report.

    The Instagram sensation, who is making waves in the entertainment industry with his very comic skits, started off his career in 2017.

    He had his education at Igbogbi Secondary School, and bagged a National Diploma from Yaba College of Technology.

    Checks by The Nation across his social media platforms especially Instagram, show that he was yet to respond to the allegations or comment on the matter as at time of report.

    But many Nigerians have taken to social media to react over the trending allegations.

    They advised him to clear the air as regards the controversial allegations.

    Reacting, Dami Adenuga @DAMIADENUGA said: “Bae U has been accused of inappropriate and unprofessional behaviour, he was accused of asking a woman to sleep with him before allowing her feature in his comedy skit.”

    Razak Adeniyi @RazaqDesigner said: “He asked for s3x to feature you in his skit. It’s your choice to agree or decline.”

    @__izuchukwu argued: So bae u asks for s3x in exchange for a role (haven’t seen any instances of rape) All these girls had two options: 1. Kindly refuse, 2. 2. Accept the terms, 3. Most of them accepted and now they’re blaming him for what exactly?

    @letveeplay posited that: “They’re not blaming him, they are calling him out. Just as he can demand for s3x from them, they can call him out on it too. It is not commendable that you chat up girls, offer to do a skit with them and then tell them they must sleep with him first. It is wrong.

    @phamography_ said: “Listen, what Bae U did is absurd and morally wrong. I’m in no support of such. However, he hasn’t committed any crime.”

    @drpenking said: “Imagine how Bae U girlfriend will feel about realizing that she is dating a video call preeq after probably boasting to all her friends that she got the best guy in the world, popular and all. May we not date somebody that will turn us into a National embarrassment”

    @ireunusal advised: This Bae U and Mason Greenwood matter are synonymous, and its talking about the weakness of a man when it comes to “S3X” men should learn to control their urges, incase u never know, women can finish your career in life if u can’t control ur s3xual urge as a man, Caution Kings!

  • Asari Dokubo attacks Nnamdi Kanu, IPOB again

    Asari Dokubo attacks Nnamdi Kanu, IPOB again

    The leader of the Niger Delta Peoples Salvation Force (NDPSF) Asari Dokubo has once again tackled the Indigenous People of Biafra (IPOB) and its leader Nnamdi Kanu.

    Dokubo faulted IPOB for saying he was behind the reported extradition of its leader from Kenya.

    The Nation reports Kanu and Dokubo have been at loggerheads over the quest for Biafra — the very cause that unites them.

    The cold war between them resulted in the formation of the Biafra Customary Government (BCG) which Dokubo announced in March 2020 with himself as the head.

    Reacting on Sunday during a Facebook live monitored by The Nation, Dokubo said: “IPOB said I was the one that sold them out, that I betrayed them, am not the one who said it. They are also the one that said I betrayed their leader in Kenya.

    “I don’t know where Nnmadi Kanu was living, I don’t know where he took off for. They said I was the person who gave him up. I now said I was the person, the next thing they said was Asari Dokubo was the person. Look at these idiots, what are you going to do to me?”

    He further carpeted the group for being responsible for the constant closure of business in the South East region as a result of the sit-at-home order.

    He said: “IPOB was presented as a platform for reconciliation, but today it is not fighting for Biafra. Today, schools, businesses have been closed down.

    REAS ALSO: Asari Dokubo tackles Nnamdi Kanu, IPOB over ‘sit-at-home’

    “If people sit at home, it is their choice that they are afraid of you people, it is not because you people are powerful. They don’t know you people are nothing.

    “People are afraid of being killed that’s why they’ve continued to sit at home, not because they love Nnmadi Kanu. If there is adequate security by the government, why is there no sit-at-home in Port Harcourt? Calabar? Uyo? It is because the government of these places are saying don’t ever come here.

    “Very soon Igbos will come out and say it is okay. Our old women are starving they can’t go to the farm, markets. At Onitsha market, people are afraid of doing businesses because they are scared of being killed.”