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World Bank casts doubt on CBN’s ability to curb inflation through rate hikes

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World Bank casts doubt on CBN’s ability to curb inflation through rate hikes

The World Bank has expressed concerns that the Central Bank of Nigeria’s monetary policy tightening may not effectively control inflation.

In its Global Economic Prospects report released on Wednesday, the institution noted that one of the significant risks to Nigeria’s economic growth is the failure of these tightening policies to rein in inflation.

“Risks to Nigeria’s growth outlook are substantial, including the possibility that the tightening of monetary policy stops short of reining in inflation,” the World Bank stated.

Despite the CBN’s aggressive interest rate hikes, inflation remains a significant challenge for the country.

The monetary policy rate has increased by 750 basis points since February, reaching 26.25 per cent in May.

However, the World Bank warns that this may not be enough to address the issue.

The report predicts that Nigeria’s economic growth will remain modest, at 3.3 per cent this year and 3.5 per cent in 2025.

The non-oil economy is expected to experience sustained growth, while the oil sector is expected to stabilize as production recovers.

The World Bank also highlights the issue of public debt in sub-Saharan Africa, which is expected to remain elevated over the forecast period.

It noted that “If global interest rates remain high, debt-service costs for countries in the region may rise, increasing the risk of government debt distress.”

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Kano: Court assumes jurisdiction to hear Bayero’s rights violation suit

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Kano: Court assumes jurisdiction to hear Bayero’s rights violation suit

A Federal High Court sitting in Kano, has ruled that it has the jurisdiction to preside over the case of human rights violation brought by deposed Kano Emir, Aminu Ado Bayero, and a senior councillor, Aminu Babba DanAgundi, following the reinstatement of Emir Mohammadu Sanusi II.
The court had granted an ex-parte order stopping Governor Abba Kabir Yusuf of Kano from reinstating Sanusi pending the determination of a substantive suit filed against his reinstatement.
The order also kicked against the abolishment of four emirates – Bichi, Gaya, Karaye, and Rano – in a bill earlier passed by the State House of Assembly.
It directed all parties involved to maintain status quo ante pending the determination of the suit filed by Sarkin Dawaki Babba and Aminu Babba-Dan’Agundi.
Justice Liman granted leave to the Plaintiff/Applicant to issue and serve their concurrent originating motion as well as all other court processes on the 6th defendant (IGP) in the FCT, Abuja, and outside the jurisdiction of the court.
The defendants in the suit include the Kano State Government, the Kano State House of Assembly, the Speaker of the State Assembly, the Kano State Commissioner of Police, the Inspector General of Police, the Nigerian Security and Civil Defence Corps, and the Department of State Security.
Justice Liman said all parties are ordered to maintain status quo ante in the passage and assent of the bill.
“That parties are hereby ordered to maintain status quo ante pending hearing of the fundamental rights application.
“In view of the constitutional and jurisdictional issues apparent on the
face of the application, parties shall address the court on same at the hearing of the fundamental rights application which is fixed for the 3rd of June, 2024.
“That in order to maintain the peace and security of the state, an Interim Injunction of this Honourable Court is granted restraining the respondents from enforcing, executing, implementing and operationalizing the Kano State Emirate Law Council (Repeal) Law.
“That parties are hereby ordered to maintain status quo ante the passage and assent of the bill into pending the hearing of the fundamental rights application.”
However, when case resumed on Thursday, Justice Liman, relying on Section 42 Sub-section 1 of the Constitution, said the court has powers of jurisdiction to hear the case.
The judge noted, “What I find intriguing is the respondents total reliance on this case of Gongola, where as Section 42 Sub-section 1 of the Constitution has clearly spelt out the hurisdictional powers of the Federal High Court to preside over such case.
“My respectful view is that the case of Tukur against the Gongola is indistinguishable with the present case. Section 42 Sub-section 1 and Section 32 of the Constitution has vested a power on our court to decide on this matter.”
In continuation of the case the plaintiff counsel, Barrister Chukwuson Ojukwu, argued that the matter is ripe for hearing as to the main issues of the invalidity of the reappointment of a new Emir and the deposition of 15th Emir Aminu Ado Bayero.
But Barrister A. G Wakil insisted that the new motion seeking to continue hearing on the Chieftaincy Affairs issues was not part of the original summons and is a different application outside the matter of Human Rights Violation and the jurisdictional powers of the court, which the court had decided.
The judge explained that the matter was adjourned to Thursday, 13th June 2024, for only ruling and nothing else.
Justice Liman adjourned the case to 14th June, 2024, noting that the matter was too sensitive to linger.
Kano: Court assumes jurisdiction to hear Bayero’s rights violation suit

Police arrest gang selling registered SIM to criminals

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Police arrest gang selling registered SIM to criminals

The Federal Capital Territory Police Command on Thursday paraded six suspects who specialise in registering Subscriber Identity Module cards with other innocent citizens’ identities and selling them to criminals.

The suspects are Ndubuisi Okeh; John Jock; Nafiu Tijani (a dispatcher); Nasiru Sulaiman; John Njoku and Suleiman Musa.

Addressing journalists while parading the suspects, the FCT Commissioner of Police, Benneth Igwe, said the suspects sold the SIM cards to criminals between N3,000 and N5000.

He noted that a total of 1,100 registered SIM cards; three registration machines; two fingerprint machines and a mobile phone were recovered from the suspects.

Igwe said, “On May 29, 2024, at about 3:00 pm, a team of detectives from the State Intelligence Department led by ACP Mohammed S. Baba, acting on credible intelligence, lured and arrested six suspects namely: Ndubuisi Okeh, John Jock; Nafiu Tijani (a dispatcher); Nasiru Sulaiman; John Njoku and Suleiman Musa Who specialises in the sales of already registered sim cards to criminals who operate with other people’s identity to avoid being traced or tracked through their own details at the price rate of three to five thousand naira.”

Igwe also said four different numbers could be registered using a National Identity Number.

According to him, as a result, these criminals use street SIM card vendors to obtain the details of unsuspecting residents who buy and register SIM cards simultaneously.

Igwe explained that the suspects use street SIM card vendors to obtain the details of innocent residents, including their National Identity Numbers, from those who patronize them.

He said, “It may interest you to know that four different numbers could be registered under a single NIN, hence, these criminals employ street sim card vendors to get the details of unsuspecting residents who buy sim cards and register at the same time.

“Over one thousand, one hundred already registered sim cards, three registration machines, and other gadgets were recovered from the suspects. The suspects have all confessed to the crime and will be charged to court at the conclusion of the investigation.”

The CP also said a gun runner, identified as Ikechukwu Didi, was arrested with seven automatic pump action shotguns and 1000 rounds of live cartridges.

He said, “On June 7, 2024, at about 2:00 pm, acting on credible intelligence, police operatives from the anti-car theft section, trailed and arrested one Ikechukwu Didi 54 yrs, at Dutse Junction, who specialises in gun-running. Seven automatic pump action shotguns and 1000 rounds of live cartridges were recovered from him. Suspect will be arraigned in court soon.”

Bill on proposed Orlu State provocative – Ohanaeze youths urge NASS to stay action

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Bill on proposed Orlu State provocative – Ohanaeze youths urge NASS to stay action

Apex Igbo socio-cultural organisation, Ohanaeze Ndigbo Youth Council Worldwide has described as unacceptable the proposal to create Orlu State out of the present Imo State.
It could be recalled that the bill, sponsored by Hon. Ugochinyere Ikeagwuonu, member representing Ideato Federal Constituency in the House of Representatives, has already passed first reading.
But addressing journalists in Enugu on Thursday, the National President of Ohanaeze Ndigbo Youth Council Worldwide, Mazi Okwu Nnabuike urged the National Assembly to jettison any plan to create Orlu State.
Okwu, who described it as an invitation to chaos in the South-East, said it negates the spirit of equity and justice.
He said whereas the South-East was desirous of an additional state to be at par with other regions, the proponents of Orlu State were championing a selfish and divisive agenda, which would only worsen the cries of marginalisation in the zone.
According to him, “the National Confab report, which was endorsed by Nigerians from across the country remains a guide towards the total reform of Nigeria, including state creation.
“In that report, there was a clear mention of Etiti State, which has a representation of every part of the South-East. There is nothing like Orlu State in the Confab report.
“The proposed Etiti State encompasses parts of all the 5 existing states of the South East.
“They include: Orumba South, Orumba North (Anambra); Awgu, Aninri, Oji River (Enugu); Afikpo North, Afikpo South, Ivo (Ebonyi), Ehime Mbano, Okigwe, Onuimo (Imo), as well as Umunneochi and Isuikwuato (Abia).
“It is, therefore, unthinkable for anyone to wake up one day and plot to thwart the general interest of the South-East in pursuit of a selfish agenda.”
Okwu cautioned that the rejection the said Orlu State had already received was a clear indication that “it is self-serving, lacks inclusivity, and proper consultation.
“We urge the National Assembly not drag itself into such a legislation that is capable of setting the South-East on fire.
“It should rather channel its energy towards the creation of Etiti State, which is long overdue, and in doing so, posterity will judge them fairly.
“The Ohanaeze Ndigbo Youth Council Worldwide equally calls on the sponsor of the bill to withdraw it from further legislative action as it is not only provocative but incendiary.”
Bill on proposed Orlu State provocative – Ohanaeze youths urge NASS to stay action

Terzic leaves Borussia Dortmund

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Terzic leaves Borussia Dortmund

Former Borussia Dortmund’s coach, Edin Terzic has left Borussia Dortmund.

According to a statement obtained from Sky Sports’ website, Terzic offered his resignation on Wednesday night despite a season which saw the club reach the Champions League final.

Terzic met with Borussia’s upper management on Thursday morning and left the meeting less than an hour through the club offices back entrance.

A statement from the club said Terzic asked Dortmund to terminate his contract, and the club have agreed to his request.

In a video post on X Terzic said, ‘It is incredibly painful for me to say this to all Black & Yellow fans, but today I am parting company with Borussia Dortmund.

‘It was a huge honour to win the DFB Cup with BVB and to lead this fantastic club to the Champions League final.

‘After the game at Wembley, I asked for a meeting with the club’s senior management team, because after ten years at BVB – including five on the coaching staff and two and a half as head coach – I feel that the club’s new era should begin with a new man on the touchline.

‘Everyone close to me knows that this has been a very difficult decision for me to take over the last few weeks, but after intensive discussions, my fundamental feeling has not changed. I wish Borussia Dortmund all the best, and this isn’t goodbye – we’ll see you soon!’

Terzic had two spells in charge of Dortmund, an interim one at the end of the 2020-21 season, before returning as permanent boss ahead of the 2022-23 season.

Speaking on the incident Borussia Dortmund CEO Hans-Joachim Watzke said,
“Edin Terzic has done an outstanding job in his time at BVB, and we all owe him a huge debt of gratitude. Edin and I will always remain friends.”

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Troops raid IPOB/ESN training camp in Abia

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Troops raid IPOB/ESN training camp in Abia

The Nigeria Army said troops on clearance operations, in the early hours of Wednesday, 12 June, 2024, in conjunction with a Task Force Tactical Patrol Squad, conducted a raid on a training camp of the Indigenous People of Biafra (IPOB) and its armed wing, the Eastern Security Network (ESN) located in Ihechiowa community of Arochukwu Local Government Area of Abia State.
In a statement on its X, the Army saud during the operation, troops successfully infiltrate and dismantled the camp, destroying all training apparatus and facilities found on-site.
In addition to the destruction of the training camp, the troops also targeted buildings used as hideouts for key ESN commanders.
The statement said the operation was sequel to heightened terrorists’ activities of IPOB/ESN, targeting law-abiding citizens and government agencies in Abia State and other parts of Southeastern Nigeria.
“In a separate operation, troops of the Nigerian Army in conjunction with other security agencies have successfully cleared bandits and criminals’ hideouts around Irele, Igbobini and Segbemi Kiribo in the general area of Ese-Odo forest in Irele Local Government Area of Ondo state.
“During the clearance operations, the troops recovered one AK-47 rifle, one AK-47 rifle magazine, 5 locally fabricated single barrel guns, and one locally made pistol. Other items recovered from the bandits include 18 rounds of 7.62mm (Special) ammunition and 24 live Cartridges.”
Troops raid IPOB/ESN training camp in Abia

Three rescued as probe begins

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Three rescued as probe begins

The three construction workers, who were initially trapped at the five-storey building that collapsed at the premises of Dennis Memorial Grammar School in Onitsha, the commercial hub of Anambra State, have been rescued alive.

The building, under construction, caved in at about 7:15 am on Wednesday, trapping about three of the workers.

As of 5:15 pm on Wednesday, one person was rescued alive during rescue operations carried out by Anambra State government officials and members of the Red Cross Society.

But speaking to our correspondent on enquiry on Thursday, the Chairman, Council for the Regulation of Engineering in Nigeria, Mr Victor Metu, disclosed that the three trapped workers were finally rescued alive before midnight of Wednesday.

Metu said that an investigation to unravel the true cause of the collapse had commenced immediately, adding that the rescued team left the scene of the building collapse around 12:00am on Thursday.

He stated that it was a full collapse and not a partial collapse noting that the collapse could be traced to a faulty foundation and substandard materials.

He said, “We rescued the first trapped person around 6 pm on Wednesday, the second person around 9:30 pm and the third around 11:45 pm.

“As the chairman, I am going to write a letter to the state governor, Prof. Chukwuma Soludo, to set up a panel of enquiry consisting of professional experts and engineers to carry out the final analysis on the collapsed building.

“Looking at the calibre and qualified engineers that were attached to the project, you will have no fear, but until this report comes to me because I perceived a lot of things yesterday, some were saying that the building was designed for two floors.

“They said the old boys who were the initiators of the building project saw the need to push it further, but that was mere speculation until I saw the drawing.

“I will also write to the chief consultant to provide me with the drawing, I will then know if it was designed for four, three or two storeys.

“From the nature of the collapse, it was a complete collapse, if it were a partial collapse, we would know that the foundation is strong. It is likely that the beams and columns are weak, probably there is a compromise of the standard.”

According to him, the situation called for concern, while assuring that the agency would dig to find out the level of foundation if it was designed for the five-storey building.

He assured that an integrity test would be carried out before he could now come holistically to tell the public if it was a human factor or a natural factor.

“Someone said it was initially a tunnel where some people hide while another person said it was a dumping ground. If all these were correct, it means there was a hole there before it was converted to a dumping ground in other to fill it up, if after my analysis I find out that it is correct, the implication is that the foundation is faulty.

“In other words, they ought to have done not just 1.5 dip, but at least up to six or seven and then, it would also be wrong for that type of building to be positioned there,” Metu added.

Checkpoint not responsible for Enugu-Onitsha expressway accident, says Army

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Checkpoint not responsible for Enugu-Onitsha expressway accident, says Army

The Nigerian Army has confirmed that the Ugwu Onyeama checkpoint on Enugu-Onitsha expressway, Enugu was not the cause of the accident on Wednesday, June 12.

Four people were reported to have died from the accident while 10 others comprising eight male adults and two females sustained different degrees of injuries.

The military headquarters clarified its stance in a post on X using its handle @HQNigerianArmy on Thursday.

The Army was responding to media reports that claimed its checkpoint was responsible for the accident and the loss of lives, which the Army countered by confirming only two fatalities.

The Army’s post on X states, “The attention of Headquarters 82 Division Nigerian Army has been drawn to the news circulating in some mainstream and social media platforms attributing the Division’s Checkpoint at Ugwu Onyeama as the cause of an unfortunate and tragic accident that claimed 25 lives on 11 June 2024.

“On receipt of the information from an online journalist that sought clarification about the incident, he was informed one-off that the Division does not have a checkpoint there but rather, it has a Location/Base by the roadside to curb the incessant kidnappings the area was hitherto known for.

“This report is inaccurate and full of falsehoods that are meant to tarnish the appreciable efforts of the troops. It is therefore necessary to set the records straight. First, the Division wishes to condole and commiserate with the families whose loved ones were involved in the tragic incident and also pray for the speedy recovery of those injured. The troops only have a base and the barriers used for the checkpoint were removed. Due to the steep gradient of the road, the section has remained problematic since the 1990s before, during, and after the checkpoints were removed.”

The Army also clarified that the accident was caused by an oncoming truck’s brake failure while descending from a slope at the 9th Mile axis ahead of the checkpoint and not at the Army’s checkpoint.

“The accident that occurred yesterday happened about 300m ahead of the soldiers’ base. Preliminary investigation revealed that the accident occurred due to a brake failure of a trailer coming downslope from 9th Mile Axis. The trailer rammed into other incoming vehicles from Enugu and not those coming from the same Axis of the 9th Mile with it. Hence, the crash was a head-on and not a rear collision.

“Thus, the soldiers never stopped any vehicle on the road for any checking but served as a responder to the accident. Also, while the loss of any life is unfortunate, however, only 2 people died at the scene of the accident and not 25 cases being reported.”

The Army further stated it is aware of the efforts of illegal miners and kidnappers operating in the area to get rid of the checkpoint, as such an act would enable them to freely carry out nefarious activities.

“It is disheartening to accuse the military of causing the accident. The Division is not unaware of the efforts of the kidnappers and illegal miners in the area to get rid of the checkpoint. The law-abiding citizens are once again assured of the commitment of the 82 Division Nigerian Army to continue to serve them as the Nigerian Army remains the Peoples’ Army.

“The general public is hereby enjoined to disregard the report as it is not the actual account of what happened. The Division will continue to perform its constitutional roles of protecting lives and property within its Area of Responsibility,” the Army said.

The Federal Road Safety Corps earlier said  25 individuals were rescued from a road accident on the Enugu-Onitsha expressway at Ugwu Onyeama, which occurred on Tuesday.

The agency also said of the “29 individuals involved in the collision, 10 sustained various injuries, while tragically, four lost their lives.”

The Corps Marshal, FRSC Shehu Mohammed, in a statement signed by the corps spokesperson, Olusegun Ogungbemide, on Wednesday ordered a comprehensive investigation into the incident and swift legal action against the responsible driver.

Initial reports suggested that excessive speeding was the root cause of the crash, involving a total of seven vehicles.

 

LG autonomy: Supreme Court reserves judgment

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LG autonomy: Supreme Court reserves judgment

The Supreme Court on Thursday, reserved judgment in the suit filed by the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN) on behalf of the Federal Government, against the 36 State Governors of the federation.

The suit is seeking full autonomy for the 774 local governments in the country.

In the suit, marked SC/CV/343/2024, the Federal Government wants the apex court to enforce the autonomy of the local government by, among other things, stopping state governors from appointing caretaker committees to administer local governments in their states.

The Federal Government wants the Supreme Court to rule that any local government manned by a caretaker committee instead of an elected local government chairman and councillors should have their funds from the Federation Account withheld.

It also wants the court to rule that funds due to local governments from the Federation Account should be paid directly to them instead of through the state government to guarantee their autonomy.

The seven-man panel, of the apex court led by Justice Garba Lawal, announced that parties in the matter would be communicated when the judgment was ready after parties in the suit adopted their processes.

All 36 states in their response opposed the FG’s suit and appealed to the court to throw out the suit.

AGF on his part asked the apex court to grant all the reliefs sought by the federal government in the suit.

The AGF said, “I adopt and rely on these processes. I urge my lords to overrule the various objections and grant the originating summons.”

While some states claimed that they were denied a fair hearing and weren’t served, the AGF clarified that he sent copies of the affidavits to the defendants via WhatsApp and emails.

He added that the court bailiff also served the defendants in their various state liaison offices in Abuja.

According Online reports that the Federal Government in the suit, is urging the apex court to issue “an order prohibiting state governors from unilateral, arbitrary and unlawful dissolution of democratically elected local government leaders for local governments.”

In the suit predicted on 27 grounds, the Federal Government accused the state governors of gross misconduct and abuse of power.

The FG, in the originating summons, prayed the Supreme Court to make an order expressly stating that funds standing to the credit of local governments from the Federation Account should be paid directly to the local governments rather than through the state governments.

The Federal Government further sought “an order stopping governors from constituting caretaker committees to run the affairs of local governments as against the Constitutionally recognised and guaranteed democratic system.”

The AGF, therefore, urged the apex court to invoke sections 1, 4, 5, 7 and 14 of the Constitution to declare that the state governors and state Houses of Assembly are under obligation to ensure a democratic system at the third tier of government in Nigeria and to also invoke the same sections to hold that the governors cannot lawfully dissolve democratically elected local government councils.

Furthermore, he urged to invoke sections 1, 4, 5, 7 and 14 of the Constitution to declare that “the dissolution of democratically elected local government councils by the governors or anyone using the state powers derivable from laws enacted by the state Houses of Assembly or any Executive Order is unlawful, unconstitutional, null and void.”

Pro-Wike lawmakers not State Assembly members – Rivers Govt insists

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Pro-Wike lawmakers not State Assembly members – Rivers Govt insists

The Rivers State Attorney General and Commissioner for Justice, Dagogo Iboroma, has insisted that the 27 members of the state Assembly loyal to ex-governor Nyesom Wike have lost their seats as members of the State House of Assembly.
Iboroma said that the lawmakers, led by the Speaker, Martin Amaewhule, had last year defected to the All Progressives Congress, APC, and are no longer members of the PDP.
Iboroma said this in a statement on Wednesday, stressing that contrary to reports, the Certified True Copy of a Monday judgment by the Rivers State High Court, validated the position that Amaewhule and his colleagues were no longer PDP members and by virtue of that lost their seats as members of the Rivers State House of Assembly.
“The court did not make a declaration that Martin Amaewhule is the Speaker of the Rivers State House of Assembly, nor did it make a declaration that Martin Amaewhule and 26 others are members of the Rivers State House of Assembly and the Peoples Democratic Party.
“If it were so, it would have been embodied in the court orders, which have been circulated to you all and displayed by me here for the purpose of clarity,” he said.
According to him, the court had been painted in a bad light and the public misled and misinformed, adding that whatever finding of fact that is not included in the court order is an Obiter Dictum, which has no binding force.
“Once again, I respectively urge the media to desist from giving any interpretation to any judgment without first reading the content of the judgment and seeking legal advice,” he added.
Pro-Wike lawmakers not State Assembly members – Rivers Govt insists

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