The Nation Newspaper

Tag: withdrawal

  • Benue federal lawmakers protest withdrawal of Operation Cat Race amid killings 

    • Reject calls for self defence

    The caucus of Benue State in the House of Representatives has described the withdrawal of military troops on Operation Cat Race from the state as suspicious, condemnable and ill-advised.

    The move, they said, was not well-meaning while herdsmen attacks remained unabated in the nation.

    The lawmakers regretted more than 15 people died from herdsmen attacks during the Easter celebration.

    They, however, rejected calls by former Defence Minister, Gen. Theophilus Danjuma (rtd), for Nigerians to embrace self-defence, saying it could lead to a state of anarchy.

    Speaking at a media briefing at the National Assembly, John Dyegh, Dickson Tarkhighin, Emmanuel Udende and Mark Gbilah protested the withdrawal of Operation Cat Race without consultation with and consideration for the people of the state while a similar military exercise in Taraba State was extended by two months.

    The lawmakers wondered if preferential treatment was given to Taraba State by federal government based on Danjuma’s factor while Benue was ignored because there was no such voice to present their situation.

    Dyegh said: “We are very seriously concerned and alarmed at the withdrawal of Personnel of exercise Cat Race from Benue when the herdsmen menace has not been curbed and the reasons for their continued deployment to other states in the region which has left Benue even more vulnerable and has paved the way for the recent despicable and premeditated attacks by the herdsmen in our communities.

    “We view this decision as very suspicious, condemnable and ill-advised and leave one to wonder about the military’s strategy or lack of it in the fight against the killer herdsmen”.

    The caucus expressed concerns intervention of the federal government have not yielded the expected result with open breach of anti open grazing law and killings as recent as Easter period.

    “We are worried that there is still no evidence of the disarming of these killer herdsmen by the Military, Police or any other security agency and the apparent refusal by the police to enforce the open grazing prohibition law constitutionally enacted by the Benue House of Assembly, which has emboldened the flagrant disregard of the law by the herdsmen who continue to openly graze cattle in several communities of the state with impunity.

    “These latest attacks have occurred in Ikyon and Agasha on 3rd and 4th April in Semaka, Asom , Babanruwa on 3rd April and  in Udei and Umenger on 2nd April.

    “They are right now stationed at Nzorov Council ward ready to attack Gbajimba in Guma Local Government Area.

    “There are others in Nasarawa ready to attack Udei and Daudu with over 14 people killed in the last four days.

    “Similarly, Sengev, Mbakyondo and Mbapa areas of Gwer-West Local Government Area are currently under siege by armed herdsmen.

    “In Tsegaase, two people have been killed; one person is missing in Zwatema, two killed in Tse Adeke, one killed inTse Adudu with one missing in Tsekelefu.

    “So far, we are yet to confirm the casualty level in Enger. On 3rd April, four people were killed in Anyebe and 1 person at Mbavihi both in Tonbo ward of Logo LGA”.

    The federal lawmakers urged Nigerians to prevail on the federal government to take a closer look at the situation of hapless Benue residents and indigenes.

  • $500m Abacha loot: Okonjo-Iweala to explain withdrawal

    Former Minister of Finance Ngozi Okonjo-Iweala is to explain how about $250million of the $500million recovered from the family of the late Head of State, Gen.Sani Abacha, was withdrawn, The Nation learnt yesterday.

    The cash was released to the Office of National Security Adviser( ONSA) without appropriation.

    About $36,155,000 (N13,015,800 billion) out of the $250million was also withdrawn in cash “without any purpose” on March 2nd, 9th, 16th and 18th of 2015.

    The Acting Chairman of Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, has approved Mrs Okonjo-Iweala’s invitation. A letter of invitation has been sent to her.

    According to a fact-sheet obtained by The Nation last night, detectives probing the whereabouts  of the $500million have recommended that the ex-minister be interrogated.

    A top source said: “Following preliminary findings, a strong recommendation was made to the Acting EFCC chairman for an interactive session with Dr. Ngozi Okonjo-Iweala.

    “Magu has approved the invitation of the ex-minister. We have dispatched a letter of invitation to her. We are hopeful that she will respond.

    “Her presence is necessary because there were issues about the $250million released especially why $36,155,000(N13,015,800billion) was withdrawn in cash.

    “She needs to assist the EFCC team on what became of the balance  of $250million which was yet to be traced.

    “She has to explain  why some of the funds were diverted to  extraneous matters including media services, opinion polls and personal matters.”

    In another position of the fact-sheet, the Office of the National Security Adviser in a memo on January 12, 2015, requested the former Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala to transfer $300million.

    The memo said: “Please refer to our meeting on recovered funds.  You are please requested to remit the sum of $300m and £5.5m to the following account being ONSA share as agreed.

    In response, Okonjo-Iweala via a memo to ex-President Goodluck Jonathan requested for the release of $300m from Abacha loot to the former National Security Adviser(NSA).

    But only $250million was released to the ex-NSA.

    The memo explained that this is to enable the NSA’s office to purchase ammunition, security and other intelligence equipment for the security agencies in order to enable them confront the ongoing Boko Haram threat.

    “This request is sequel to the meeting you chaired with the committee on use of recovered funds where decision was made that recovered Abacha funds would be split 50-50 between urgent security needs to confront Boko Haram and development needs (including a portion for the Future Generations window of Sovereign Wealth Fund).

    “This letter is to seek your approval to borrow these funds, for now, to disburse to the NSA. These funds form part of projected FG Independent Revenue to be appropriated.

    “In light of this and for accountability, given the peculiar nature of security and intelligence transactions, we would expect the NSA to account to your Excellency for the utilization of the funds.”

    On January 29, 2015, the ex-President responded to the ex-Minister as follows: “CME/HMF, approved.”

    But Okonjo-Iweala had in 2015 insisted that she had no case to answer.

    She said: Former President Jonathan set up a Committee comprising of the former Minister of Justice, former NSA and the former Minister of Finance to determine how best to use both the returned  and expected funds for development.

    • The NSA made a case for using the returned funds for urgent security operations since, he noted, there cannot be any development without peace and security. Based on this, a decision was taken to deploy about $322m for the military operations, while the expected $700m would be applied for development programmes as originally conceived.
    • Following the discussions and based on the urgency of the NSA’s memo, Dr Okonjo-Iweala requested the President to approve the transfer of the requested amount to the NSA’s Office for the specified purposes.
    • But, as captured in the memo, she insisted on three conditions: a. only a part, not the entire Abacha funds would be spent on the arms; the rest would be invested in developmental projects as originally conceived b. the money was to be treated as borrowed funds which would be paid back as soon as possible c. the NSA’s office was to account for the spending to the President who was the Commander in Chief, given the fact that the Minister of Finance is not part of the security architecture and does not participate in the Security Council.
    • The attempt to link the former Minister’s name to any misuse of these funds for any purpose other than security as far as she understood it is totally false and cannot stand.”

    A former Chairman of the EFCC, Mallam Nuhu Ribadu had claimed that Abacha “took over $6 billion from Nigeria.” He also said $2 billion was recovered when he was in charge of the anti-graft agency.

  • IG orders withdrawal of orderlies from VIPs

    INSPECTOR General (IG) Ibrahim Idris has ordered the withdrawal of police personnel attached to politicians, multi-national firms, business entrepreneurs and corporate individuals.

    Idris, who spoke yesterday in Abuja at the Force Headquarters during the monthly meeting with Commissioners of Police and other senior officers, said that a memo on the issue would be forwarded to President Muhammadu Buhari for his approval.

    He added that the memo is expected to serve as a guideline for deployment of policemen to very important personalities (VIPs), political, public office holders and others

    He explained that the move was imperative because of the country’s security challenges.

    The IG also directed that following alleged abuse of Police Spy number plates, holders of such numbers should return them and re-apply.

    He said: “In view of the current security challenges in the country, it has become expedient for the NPF to streamline the deployment of its personnel attached to political and public office holders, aimed at enhancing effective and efficient policing of the country.

    “To this effect, a memo will be forwarded to the President for approval which will serve as a guideline or template for deployment to VIPs, political and public office holders in the country.

    “Accordingly, a directive for withdrawal of all police officers deployed to VIPs, political and public office holders, with immediate effect, is hereby given.

    “This directive includes business entrepreneurs, multi-national companies as well as corporate individuals.”

    He said: “However, business entrepreneurs, multi-national organisations, corporate individuals and entities that require such services and are found to be worthy will be considered from the Special Protection Unit (SPU) of the NPF on application for re-validation through the Commissioners of Police where they are residents.”

    The IG added that a Task Force has been constituted at the FHQ under the Command of ACP Moh’d Adamu Dankwara to ensure compliance to this directive.

    He directed the Commissioners of Police to replicate same at their various commands.

    Idris said: “The Commissioners of Police are to profile and recommend if such applicants merit the services for approval.

    “By so doing, I am charging the Commissioners of Police with the responsibility of supervising such official deployment and thereby holding them accountable.”

    On the abuse of Spy number plates, the police boss said it was grossly abused, adding that criminals have taken advantage of it to perpetrate crimes.

    He said: “I have observed the excessive abuse of Spy Number Plates, covering of plate numbers and Illegal use of siren.

    “The Police Spy Numbers exclusively approved for use by banks, security companies and multi-national companies are grossly abused, a situation where criminals now take advantage of this to perpetrate heinous crimes.

    “Some individuals have formed the habit of covering their vehicle plate numbers and also illegally use siren. This practice should stop forthwith.”

    “I have directed that holders of all police Spy plate numbers are to return them to the Force Transport Officer at the FHQ, where they are expected to apply for re-validation.”

    He said Dankwara will ensure compliance to the directive and arrest violators.

    “A similar task force is to be formed at the command levels by State Commissioners of Police to ensure compliance with this directives and list of the Task Force Team be forwarded to the DIG Operations latest March 31, 2018,” he said.

  • Owoseni denies withdrawal of Special Forces from Benue

    Owoseni denies withdrawal of Special Forces from Benue

    The Benue State Police Commissioner, Fatai Owoseni, has debunked reports that the Special Forces had been withdrawn from the state.

    The social media was awash with news of withdrawal of the Special Forces deployed last month by the Inspector-General of Police (IG) Ibrahim Idris, following farmers/herdsmen clashes in parts of the state.

    But Owoseni said the joint operation, headed by Deputy Inspector-General of Police (DIG) Josak Habila, was still active in the state, adding that the IG has continued to reinforce same.

    He said: “It is not true that the Special Forces have been withdrawn from the theatre of operation in Benue State. Rather, the Inspector General of Police has continued to reinforce the command with personnel and material resources as it becomes operationally expedient.

    “With the reinforcement, the command has been able to increase its visibility in the state. This is aimed at encouraging speedy return of displaced persons to their communities.

    “While the situation is relatively calm, the police will continue to partner well meaning members of the society and sister security agencies to ensure security of life and property.”

     

  • PDP: don’t divert attention on $1b ECA withdrawal

    PDP: don’t divert attention on $1b ECA withdrawal

    The Peoples Democratic Party (PDP) also challenged the Federal Government to address issues on the withdrawal of the $1 billion from the Excess Crude Account.

    It accused the federal government of trying raise fund for the partisan activities in 2019.

    Spokesman of the PDP Kola Ologbondiyan in a statement said:  the government had resorted to making unsubstantiated allegations against the PDP, stressing that this has only reinforced the government’s manipulative tendencies and arrogant spurn to the sensibilities of Nigerians.

    The party challenged Minister of Information Lai Mohammed  to substantiate his claims that the PDP was rebranding with stolen money.

    The statement said, “The Federal Government has failed to address issues raised by the PDP and majority of Nigerians, including APC members, who cannot fathom how this administration would want to expend N365billion on fighting insurgents it claimed had been technically defeated.

    “It is indeed appalling that rather than being remorseful, the APC Federal Government has renewed its wild allegations and cheap blackmail against the PDP.

    “It is clear to all that the PDP does not have access to public funds and cannot be rebranding with stolen money. Instead, we are rebranding on the grace of the general goodwill of Nigerians who have suffered untold hardships in close to three years of APC government.”

  • Withdrawal of NIS from airport

    SIR: Travelling out of the country has always been a menace to me and other concerned Nigerians due to unnecessary harassments experienced from the officials of the Nigeria Immigration Service (NIS) special reference to those manning the luggage check-in areas.

    I have had to part with some ‘perks’ for immigration officials to allow my luggage pass when I carry foodstuffs am sure are not contraband .Oftentimes, whether I carry foodstuffs or not, these beggarly NIS officials never cease to amaze and annoy me with their stylish begging – ‘madam, what do you have for us?

    I was going with that same mentality of experiencing the usual drama on my last August trip when to my surprise, no NIS officials was present as usual at the luggage check-in area. The federal government’s decision to withdraw them from that area is a welcome development and huge relief!

    But it never ends there as going through the security checks too will meet one with same stylish beggarly ordeal.

    When will the NIS officials stay content with their pay cheques and uncalled for kickbacks demanded for during passports applications? That is another jeremiad for another day.

     

    • Banke Badmus,

    Ibadan.

  • Okorocha snubs Obiano’s ‘tactical withdrawal’ from verbal war

    Okorocha snubs Obiano’s ‘tactical withdrawal’ from verbal war

    Imo State Governor Rochas Okorocha yesterday demanded an unreserved apology from Anambra State Governor Willy Obiano as part of the conditions to end the verbal war between them

    He also said Obiano should publish his achievements in the last four years of his service to the state before he could accept the Anambra governor’s “tactical withdrawal” from the clash.

    Okorocha spoke after Ohanaeze President-General John Nwodo declared that the “press war is over “ after an intervention by the Igbo socio-cultural organisation.

    Yesterday, Okorocha’s spokesman Sam Onwuemeodo, in a statement, stated said: “Governor Obiano came up with this volte-face after he had launched unprovoked media attacks against Governor Rochas Okorocha. And allowing Governor Obiano to tactically withdraw from an unwarranted media war he declared, without apologizing to Governor Okorocha and without publishing his achievements as the governor of Anambra State for almost four years to show good leadership is totally unacceptable to us. And we make bold to ask for an unreserved apology from him because with the way he reacted to such an innocent comment, one could see that he was harbouring malice against Owelle Okorocha”.

    The statement added: “We appreciate the concern of some Igbo leaders and groups who had called for truce. Such Igbo leaders should also reason with us that it calls for concern when someone unreasonably declares war against you

    “It also surprising that Governor Obiano who took up “arms” against the Imo governor over an interesting claim he made that three governors in the South-East would soon join APC.

    “It is also difficult to be explained why a governor that has governed a state with high IGR for almost four years and with lean workforce is finding it difficult to publish his achievements at least to show that he is a good leader of his people and on the basis of that, he would be asking for a second term.

    “The common logic is that if Governor Obiano fails to publish his achievements, it means he has nothing to display and the interpretation of that development is that, he had lost the moral justification to ask for second tenure. And Anambra people should take cognisance of that.

    “For Governor Okorocha, he is in a hurry to use the challenge thrown up by the Anambra State Governor to show-case to Nigerians and the world at large, about two thousand verifiable projects executed by his administration in various parts of the state including the New city of Owerri. And we know that all that Governor Obiano has done in Anambra for almost four years now cannot be equated with two flyovers built by Governor Okorocha.

    “Governor Okorocha would also want, while publishing his achievements, also publish his profile to show the world that either Governor Obiano didn’t know him or he was not truthfully briefed about him or he was austere with the facts.

    “The profiles of the two governors would have shown that while Governor Obiano has First Degree in Accountancy and Masters Degree in Business Administration of the University of Lagos, Governor Okorocha has Bachelor’s degree in Law of the University of Jos, Masters degree in Law also of University of Jos, Plateau State, Post graduate Diploma in Management of the Benue State University, Advanced Diploma in Law, Security and Conflict Management. So in terms of education, Governor Okorocha is more educated than Governor Obiano. And as a responsible government, we restricted ourselves from talking about his personal life.

    “Again, Obiano began his banking career with First Bank and ended up as an Executive Director. He was later carried by some political godfathers on the back to the governorship seat in Anambra State in 2014. That is all about Governor Obiano.

    “Governor Okorocha has never told anybody that his beginning was wonderful. He was never born with silver spoon in his mouth. He didn’t have a straight school experience while growing up. He was involved in street trading. But he ended up having Master’s degree in Law. He made his first one million dollars when Balfour Beatty, the company that constructed Balanga Dam was winding up and he was one of the agents that sold used equipment. And he channeled the whole money into the business of used cars which gave birth to the sale of new cars which later metamorphosed into ”Rochas Motors”.

    After listing other Okorcha’s achievements and profile, the statement said: “In other word, we were right when we said in our first response to Governor Obiano’s attack that comparing Obiano with Rochas (Okorocha) is like comparing (Lionel) Messi of Barcelona F.C with one left winger in one Mberi Secondary School in Imo State.”

  • Row over admission withdrawal at YABATECH

    Row over admission withdrawal at YABATECH

    The decision of the Yaba College of Technology (YABATECH) in Lagos to withdraw the admission of two applicants is raising dust as the victims are threatening to sue the college for alleged fraud and victimisation. KUNLE AKINRINADE reports.

    Is it justifiable for a higher institution to withdraw admission after it duly screened and certified applicants to be academically qualified for placement? This is the poser authorities of the Yaba College of Technology (YABATECH) need to answer.

    Two applicants-Shukurah Omowunmi Aweda and Lateefah Opeyemi – were offered admission by the college. However, after the duo had paid the school fees, the college management terminated their admission, citing “error”.

    The applicants received letters from the management, which offered them admission for Higher National Diploma (HND) in the Department of Marketing in the 2015/2016 session. Prior to getting their  admission letters, both applicants appeared before a screening panel, which issued them clearance certificates and matriculation numbers F/HD/15/3650012 and F/HD/15/3650026.

    Weeks after they resumed for studies, the school authorities barred them from going for lectures by withdrawing their admission. The applicants told CAMPUSLIFE that there was nothing suggesting that their admission was offered through the back door, noting that they underwent the school screening like every other student before being offered admission.

    Omowunmi said: “I applied for HND in Marketing after completeing my ND at the Kwara State Polytechnic (KWARA POLY). I was issued a clearance note after proper screening by the academic board. A few weeks after I resumed, a management staff called Mr. Olowolagba came to my class and told me to stop going for lectures on the ground that my admission was offered in error.

    “I approached the department office for clarification. The Head of Department’s response was unfavourable. All these came after I had paid N60,000 fee into the school account. I wondered why they made us pay the fee when they knew they would withdraw the admission. It looked like a fraud to me. The Ministry of Education must investigate this injustice.”

    Lateefah resigned from her job to study for the HND. She did not want anything to disturb her studies. “I was devastated after Mr. Olowolagba told me that my admission had been withdrawn,” she said.

    She continued: “The school has been totally indifferent to our plight despite our pleas. We suspect a foul play, because the school waited until we paid our tuition fees before turning around to withdraw our admission.

    “So far, the attitude of the school management has been like there was nothing anyone could do to reverse the admission withdrawal and that the decision was irrevocable. This unfortunate situation has kept our fate hanging in the balance, because there was no favourable word from the school after we made an appeal for reversal of the decision. What is annoying is, nobody is talking about refunding the money we paid into the school account.”

    The victims’ counsel, Mr Mobolaji Adejumo, wrote to the school management, urging YABATECH to rescind the decision withdrawing the applicants’ admission.

    A letter, dated July 24, reads: “Our clients were offered admission to study Marketing (full time) at your prestigious institution, following the successful completion of Ordinary National Diploma (ND) in Public Administration at the Kwara State Polytechnic in Ilorin. Their admission raises a presumption that they are fit to study at your polytechnic.

    “They were screened and cleared by the central screening committee of the polytechnic and thereafter they were issued matric numbers. After the clearance exercise, our clients were issued a document to the effect that they satisfied basic requirements for their course of study and subsequently advised to proceed online and print payment advice, after which school fees totaling N36, 500 for each student were paid and they were also made to pay  another N6,000 ‘regularisation fee’, which is said to be a fee paid to the polytechnic for those whom the polytechnic admitted on its own for onward transmission of their data to JAMB; acceptance fee of N11,500 was also paid to the school.”

    Adejumo said his clients would not hesitate to seek redress in court if the school management did not reverse the decision.

    Responding, YABATECH management, in a letter signed by the Head of General Administration and Legal Matters, Funmi Dada, said the applicants were cleared in error.

    The school letter reads: “As regards the above-mentioned students, it was discovered upon further assessment that both students were cleared in error during the screening exercise. I have been directed to convey regret that your clients have been cleared in error. Accept the best wishes of the Rector.”

    When contacted, YABATECH’s spokesperson, Charles Oni, in a text message to our correspondent, said: “You will need to investigate what happened, or what do you think? The authority (sic) must have reasons for their actions.”

    Further text messages sent to his mobile phone number for clarification were not replied as at press time.

  • PDP seeks withdrawal of Ogah’s Certificate of Return

    PDP seeks withdrawal of Ogah’s Certificate of Return

    The Peoples Democratic Party (PDP) has filed a suit at the Federal High Court, Abuja, against Uche Ogah and the Independent National Electoral Commission (INEC) seeking the nullification of the Certificate of Return issued to Ogah by INEC on the grounds of false statement.

    The party said it took the action because the election that produced the governor of Abia State in the 2015 was on April 25 and not the April 11 poll, which INEC declared inconclusive.

    The PDP said the Certificate of Return issued to Ogah is null and void and of no effect.

    It said it was also seeking an order of perpetual injunction restraining Ogah and his agents from parading what it called the invalid Certificate of Return issued to him by INEC and from being sworn in on the basis of the invalid Certificate of Return on the inconclusive April 11, 2015 poll.

    The party argued that Governor Okezie Ikpeazu contested and won the Abia State governorship election on April 11 and April 25, 2015 as the candidate of the PDP, and was sworn in as the elected governor of Abia State on May 29, 2015.

    In the originating summons filed by PDP’s lawyer, Dr. Paul Ananaba (SAN), the party, among other issues for determination, is asking the court to answer the following questions:

    “Whether the information on the Certificate of Rerun, dated June 28, 2016 and issued by the Independent National Electoral Commission (INEC) to Dr. Sampson Uchechukwu Ogah on June 30, stating that Dr. Ogah of the PDP has been elected to the Office of Governor of Abia State at the election held on April 11, 2015, is false since INEC declared the governorship election of that date inconclusive; that is, no conclusive governorship election was held in Abia State on April 11, 2015, and no candidate of the PDP or of any other political party at the election, including Dr. Ogah, was ever returned as elected at the election declared as inconclusive by the INEC.

    “Whether the Certificate of Return, dated June 28, issued by INEC to Dr Ogah was not invalidated by reason of the fact that neither Dr. Ogah or any candidate of any political party was declared and returned as elected into the Office of the Governor of Abia State by INEC at the governorship election held on April 11, 2015, declared inconclusive by INEC.

    “Whether there was any conclusive governorship election in Abia State held by INEC on April 11, 2015, and any return of any candidate, including Dr Ogah, into the Office of the Governor of Abia State to warrant the issuance of the questioned Certificate of Return, dated June 28, to Dr. Ogah of the PDP as having been duly elected to the Office of the Governor of Abia State at the governorship election held on April 11, 2015.

    “Whether the Certificate of Return, dated June 27, 2016, issued by INEC to Ogah of the PDP as having been elected into Office of the Governor of Abia State at the governorship election held on April 11, 2015, is not liable to be nullified as invalid, null and void in that no conclusive governorship election was concluded by INEC in Abia State on April 11, 2015.

    “Whether the election into the office of the governor of Abia State held on April 11, 2015 was declared inconclusive and whether a Certificate of Return can be validly issued to Ogah by INEC based on the inconclusive governorship election conducted by INEC on April 11, 2015.”

    The party added: “That there was no conclusive governorship election held by INEC on April 11, 2015 and return of any candidate as elected to the Office of Governor of Abia State to warrant the issuance of the Certificate of Return, dated June 28, 2016 by INEC to Ogah as having been elected to the Office of the Governor of Abia State at the election held on April 11, 2015.”

    The PDP also prays the court to determine: “Whether the invalid Certificate of Return issued to Ogah by INEC can be relied upon by the Chief Judge of Abia State, the President of Customary Court of Appeal, Abia State, or any judicial officer in Nigeria to swear in Ogah as governor of Abia State.”

    The party further seeks a declaration “that the Certificate of Return, dated June 28, 2016 issued by INEC to Ogah as having been elected to the Office of the Governor of Abia State at the governorship election held on April 11, 2015, is null and void and of no effect whatsoever by reason of false statement or information contained therein of the election of Ogah to the Office of the governor of Abia State at the governorship election held on April 11, 2015, when no candidate emerged as elected.”

    The Abia State chapter of the PDP had called for investigation and probe of the certificate of return issued to Ogah by INEC, describing it as invalid and erroneously issued.

    Abia State Publicity Secretary of the party, Chief Don Ubani, who addressed reporters in Umuahia, the state capital, said: “The party hereby recollects that the governorship election of 2015 in Abia State came in two phases: that of April 11, which was declared inconclusive by the electoral body and that of April 25, which conclusively declared and confirmed Ikpeazu as the governor-elect of Abia State.

    “That Governor Ikpeazu’s Certificate of Return is a product of the elections of April 11 and 25, 2015, as properly reflected on the Certificate of Return.

    “The party vehemently rejects the Certificate of Return erroneously issued to Mr. Ogah for, among many other reasons, the enormous fact that the Certificate of Return failed to reflect the fact that the governorship election took place on two different days.”

  • Banks seek N10,000 withdrawal limit

    Banks seek N10,000 withdrawal limit

    •Deposit declines by N1.029tr

    A proposal to limit the over the counter cash withdrawal by bank customers to N10,000 has been tabled before the Central Bank of Nigeria (CBN).

    The Sub-committee on Payments Systems and Infrastructure of the Bankers Committee last week sent the proposal to the CBN.

    The proposal was presented at the committee’s meeting but it is not clear whether it was considered.

    The CBN is expected to “give feedback on the request”.

    Deposits taken by banks declined by N1.029 trillion between April 2015 and April 2016, a Central Bank of Nigeria (CBN) report has said.

    Besides, more customers are finding their loans difficult to service, the report said.

    A report presented by CBN Deputy Governor (Economic Policy) Dr. Sarah Alade to last week’s Bankers’ Committee meeting in Abuja attributed the reduction in deposits to the Treasury Single Account (TSA).

    She said the poor loan servicing resulted in the increase of non- performing loans (NPLs) to a ratio of 10.1 per cent over and above the CBN prudential limit of five per cent as at end April.

    The CBN Deputy Governor also told members of the Committee that total deposits in the banks declined by N1.029 trillion from April 2015 to April 2016. According to her, ”the decrease in deposits were largely due to the introduction of the Treasury Single Account in the system.”

    According to Dr. Alade, “the sudden rise in NPLs was attributed to the outcome of the risk assets examination of Deposit Money Banks (DMBs) conducted in December 2015 and the sustained low price of crude oil, supply constraints at the FOREX market as well as other macroeconomic conditions impacted negatively on the quality of bank loans.”

    Her report to the Committee noted that the development had led to a decline in banks’ total assets; the volume of credits granted by them and even the degree of deposits generated by them, which in turn ultimately led to a decline in banks earnings as well as income from interest and non-interest investments.

    The TSA policy, which directed all Ministries Department and Agencies to move government funds to the CBN began in September, last year.

    Dr Alade had reported that “audited profit before tax for the period ended April 2016 decreased by 10.8 per cent or N24 billion from N222 billion for the period ended April 2015 to N198 billion in the period ended April 2016”.  “Also, the ROA and ROE were 2.17 per cent and 16.17 per cent in February 2016 compared with 2.42 per cent and 19.39 per cent in the corresponding period of 2015.”

    She added: “The decline was driven by a decrease in both interest and non interest income, which declined by 6 per cent or N50 billion and N54 per cent or N259 billion respectively. Industry total assets ( April’15) – N27.588 trillion,  ( April ’16)- N27.434 trillion, showing a decrease of N158 billion or 0.6per cent. Gross Credit (April 0.3 per cent  ’15) – N13.403 trillion; ( April ’16) – N13.362 trillion , showing a decrease of N41 billion or 0.3 per cent; Total deposits ( April ’15) – N18. 544 trillion, ( April’ 16)- N17.516 trillion  showing a decrease of N1.029 trillion or 5.5 per cent , decreases were due largely to TSA”

    Alade also reported that the economic downturn has impacted negatively on the foreign reserves management. The foreign reserve declined by more than $5 billion from $31.20 billion in July 2015 to $26.05 billion on May 19.

    On a bright note, however, the CBN Deputy Governor reported that the banks’ Capital Adequacy and Liquidity Ratios remained strong and far above prudential limits.

    According to her, “the Capital Adequacy Ratio (CAR) of the banking industry, which was still above the prudential minimum of 10 per cent and 15 per cent for banks with national and international authorisation respectively as at April 2016 stood at 16.5 per cent compared with 17.0 per cent as at April 2015. The CAR deteriorated between April 2015 and April 2016 due to decline in the total qualifying capital (caused by regulatory deductions, retirement of Tier 2 Capital, impairment etc) and increase in the total risk weighted assets.

    Dr. Alade added that “the trend of industry liquidity ratio shows that the industry operated far above the minimum requirement of 30 per cent”.  “As at April 2016, the industry liquidity ration stood at 46.3 per cent compared with 39.78 per cent as at April 2015.” The report reassured of the soundness of the banks.

    The Sub-committee of the Bankers’ Committee on Payments Systems and Infrastructure has also recommended to the Central Bank of Nigeria (CBN) for approval to limit across the counter withdrawals to N10,000. The CBN is expected to “give feedback on the request”.

    Also at the meeting, the CBN reported to the Committee “on the outcome of its meeting with the Nigerian Communications Commission (NCC) to address issues around reallocation of dormant phone numbers to other users”.