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Nassarawa gov distributes rice, cash to tertiary institutions’ students

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Nassarawa gov distributes rice, cash to tertiary institutions’ students

The Governor of Nasarawa State, Abdullahi Sule, has distributed 5,000 bags of rice and N5,000 cash each to students of tertiary institutions at the College of Education Akwanga in the state.

This was disclosed in a brief statement on the governor’s verified Facebook page on Wednesday.

The statement noted that  Sule extended the gesture as palliative to students of tertiary institutions in the state.

“At the College of Education, Akwanga 2,500 students are to share 5,000, 7.5kg bags of rice. Each beneficiary also got N5,000 cash.

“The gesture is part of the government’s plans to cushion the effect of the hardship in the country,” the statement added.

Dayo Oyewo

Dayo, a Sociology graduate, covers City and Crime on the Metro Desk. He is a resourceful, self-motivated and result-driven journalist.

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Vietnam parliament approves president’s resignation 

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Vietnam parliament approves president's resignation 

Vietnam’s parliament, on Thursday, approved the resignation of President Vo Van Thuong, the latest high-profile leader to fall as the communist country is roiled by a sweeping graft purge and political feuding.

The ruling Communist Party announced Wednesday that Thuong had quit after barely a year in the job, saying he was guilty of unspecified “violations and shortcomings”.

The 53-year-old’s departure, following days of rumours he was on his way out, comes as Vietnam undergoes major — and uncharacteristic — political upheaval.

The National Assembly — a rubber-stamp body — voted to dismiss Thuong in a closed session at an extraordinary meeting, the state-run Tuoi Tre news website reported.

Vietnam has long prized stability and careful management of political change, but this has been upended by a wide-ranging crackdown on corruption, believed to be orchestrated by party General Secretary Nguyen Phu Trong — seen as the most powerful figure in the country.

The purge saw Thuong’s predecessor, Nguyen Xuan Phuc, forced to resign suddenly last January.

A handful of the country’s top business leaders have been put on trial in huge fraud and corruption cases, with one facing a possible death sentence in a $12.5-billion bond scam case.

The party’s politburo, its key decision-making body, has now lost four of its 18 members since 2021 — two presidents, a deputy prime minister and a former trade minister.

Before Phuc’s resignation last year, only one other Communist Party president had ever stepped down, and that was for health reasons.

Linh Nguyen, a Vietnam analyst at global risk consultancy Control Risks, said the upheaval was a “PR disaster” that threatened the country’s reputation for stability.

Last week, as speculation about Thuong’s future built, the Dutch royal family said Vietnam had cancelled a planned state visit this week by King Willem-Alexander and Queen Maxima “due to internal circumstances”.

The turmoil comes as Vietnam seeks foreign investment, particularly from the United States, to develop its economy away from low-value manufacturing and towards high-tech products such as semiconductors.

US President Joe Biden’s administration wants to massively expand business investment in Vietnam to help it develop a high-tech sector to wean the American economy off its dependence on China.

Linh said it appeared that factions within the Communist Party are already jockeying for position ahead of the crucial party congress in 2026.

“The politicised anti-corruption campaign is getting more intense towards the next party congress leaving even more uncertainty about who’s next,” she told AFP.

“Losing the youngest politburo member and youngest top leader also raises concerns over the ageing leadership in Vietnam as most of them will be overaged by the next party congress in 2026.”

No detailed explanation has been given of Thuong’s “violations”.

But earlier this month, the Ministry of Public Security expanded a probe into an infrastructure development company in three provinces, including central Quang Ngai, where Thuong was formerly the party chief.

The ministry said the Phuc Son company was suspected of falsifying financial statements in order to dodge taxes, and its investigators arrested nine people including five officials from Quang Ngai.

But Linh said the scale of Thuong’s alleged wrongdoing was “likely very small” in the context of the nationwide anti-corruption purge.

Analyst Benoit de Treglode of the Institute of Strategic Research in Paris said internal party machinations over who will replace General Secretary Trong were the more likely cause.

AFP

Okpebholo, Idahosa will reclaim Edo for APC – Chieftain

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Okpebholo, Idahosa will reclaim Edo for APC – Chieftain

A chieftain of the All Progressives Congress in Edo State, Monday Udomoh, has stated that the party’s youthful members’ personalities will increase its chances of winning the September 21 2024 governorship election.

Udomoh, who stated this on Tuesday through a congratulatory message to Monday Okpebholo and Dennis Idahosa following their emergency as the party’s flag bearers, said the duo was a better choice, especially during “tortuous and tumultuous times” in the state’s history.

He further commended the party’s leadership in the state and at the national level for “upholding the sanctity of the party,” while applauding the President, Bola Tinubu, and former governor of the state, Adams Oshiomole, for promptly bringing party members following the fallout after the primaries.

He said, “I am now convinced without any iota of doubt that my party, the APC, is ready to reclaim Edo State from the whims and caprices of the fast-depleting and decomposing Peoples Democratic Party in the state.

“In this tortuous and tumultuous time in the history of Edo State, it’s a great honour for these to have received the party’s flag from the Mr. President, which represents our collective destiny. These are men with cognate knowledge of election victories; therefore, we are not just determined, but we are good to go.

“The APC will win the general elections seamlessly with these young and vibrant candidates; indeed, it’s youth o’clock. Our candidates possess vast knowledge and have over the years been connected to Edo land and Edo people.

“Finally, I urge the leaders and elders of our great party to embrace genuine and committed reconciliation and to please take their time to relocate back to Edo State and be actively involved when it’s time for campaigning. In the words of PBAT, ‘the party is supreme, but victory is superior’.”

Scrapping Abia ex-gov pension needless, we never benefited

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Scrapping Abia ex-gov pension needless, we never benefited

The Abia State House of Assembly has repealed the Abia State Governor’s and Deputy Governor’s Pensions Law number 4 of 2021.

A principal officer of the House of Assembly said the repealed law provided for security, medicals, cooks and stewards, among others for the former governors.

According to the officer, the pension amount, which is for life,  will be determined by the incumbent governor, adding “on death, the state government will pay the family an amount equal to the deceased annual salary. All these are at the expense of the government.”

However, former governors and deputies of the state, including Orji Uzor Kalu, Theodore Orji and Okezie Ikpeazu have frowned on the law, stating that none of them had been receiving any pensions.

Reacting to the Assembly’s decision, one of Kalu’s aides  said, “As a former governor of the state, T. A. Orji did not pay him (Kalu) a dime as pension and Okezie Ikpeazu continued in the same manner.”

Similarly, Theodore Orji’s  Liaison Officer,  Ifeanyi Umere, said the ex-governor had not been receiving a pension.

“Throughout as the governor of Abia for eight years, T. A. Orji has not received any penny as pension,” he said, calling on the state Assembly to come out with any evidence available to them.

Similarly,  Ikpeazu expressed disgust over the law, describing it as “obviously sponsored,” and “mischievously couched to give the false impression that Dr Ikpeazu is among former governors of the state currently receiving a pension from the Abia State Government”.

The bill titled “H.A.B 11, The Abia State Governor’s and Deputy Governor’s Pensions Law Repeal Bill 2024,” was sponsored by the Majority Leader and member for Arochukwu State Constituency, Mr Okoro Uchenna Kalu.

Speaking while announcing the passage of the bill, the Speaker, Chief Emmanuel Emeruwa, commended his colleagues for their understanding and cooperation adding that it was in line with the yearnings of the majority.

Leading the debate on the floor of the House, the sponsor of the bill and Majority Leader, Mr Okoro  Kalu, described the bill as timely, saying it would help reduce the cost of governance, free funds for the development of the state and the welfare of the greater majority of the people.

But Ikpeazu’s spokesman, Ememanka, in a statement on Wednesday, said, “The attention of the immediate past Governor of Abia State, Dr Okezie Ikpeazu, has been drawn to reports circulating online to the effect that the Abia State House of Assembly has repealed the 2001 law under which former governors and deputy governors are paid some money as pension.

“The said reports, which are obviously sponsored, are mischievously couched to give the false impression that Dr Ikpeazu is amongst former governors of the state currently receiving a pension from the Abia State Government.

“Dr Okezie Ikpeazu wishes to make it abundantly clear that since after handing over the reins of power as Governor of Abia State on May 29th, 2023, he has neither requested for, nor received from the Abia State Government, any dime under any guise whatsoever, and has no intentions of doing so.

“Former governor Ikpeazu has since moved on with his life and is currently engaged in other areas of interest to him and advises the Abia State Government and her various organs to face the business of governance and desist from engaging in needless media sensationalism.”

Also speaking, the immediate past Deputy Governor,  Ude Oko Chukwu, said, “Nobody has given me a dime. I am aware of the law. For me, it (the law) is as good as not being there. If all past governors said they have not been paid anything, what is the essence of the existence of the law?”

Meanwhile, the Deputy Speaker of the Abia State House of Assembly and Chairman, House Committee on Media and Information, Chief Augustine Okezie, has lauded his colleagues for the accelerated hearing and passage of the Abia State Governor’s and Deputy Governor’s Pensions Law Repeal Bill, 2024.

Speaking shortly after the passage of the bill, the Deputy Speaker, who had during plenary thrown his weight behind the passage of the bill, said the decision was a reflection of the wishes of the people of Abia State.

Okezie, who represents Umuahia East State Constituency in the House, also commended Governor Alex Otti, a potential beneficiary of the law, for not interfering in the process.

Senate names committee room after late Olubadan

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Senate names committee room after late Olubadan

The Senate, on Wednesday, resolved to name one of its Committees’ Rooms after the late Olubadan of Ibadanland, Oba Lekan Balogun.

Oba Balogun died on Thursday, March 14, 2024, at the University College Hospital Ibadan at age 81 after a brief illness, two years after ascending the throne on March 11, 2022.

Prior to becoming the Olubadan, Balogun was a senator, representing Oyo Central senatorial District between 1999 and 2003.

As a senator, he was chairman of the Senate Committee on National Planning and was a member of many Senate committees such as Appropriations, Security and Intelligence, Police Affairs and Defence (Army).

The Senate’s resolution to immortalise him followed a motion sponsored by Senator Sharafadeen Alli (APC Oyo South).

Alli, in his motion, informed the Senate that the late Olubadan was a leader par excellence, a community developer and a service-driven politician.

The attributes, he said, culminated into Balogun’s election as a senator between 1999 and 2003.

“The late Olubadan was a man of peace and custodian of the culture and values of the Yoruba people,” Alli added.

The two other senators from Oyo State, Yinus Akintunde (Oyo Central) and Addulfai Buhari (Oyo North), also contributed to the debate on the motion by informing the Senate about how the late monarch impacted positively the lives of those who came across him while alive.

Buhari said the book written by the late monarch, “Arrogance of Power,” given to him in 2003 when he won election into the House of Representatives had helped him a lot not to get disconnected from people who elected him into the National Assembly over the years.

The Minority Leader, Senator Abba Moro (PDP Benue South), also eulogised the virtues of the late monarch in his contribution to the motion.

The Senate, after debates on the motion, adopted all the prayers sought as resolutions, one of which was to immortalise the late monarch by naming one of the Senate Committee Rooms after him.

The Red Chamber also held a minute silence in honour of the late Olubadan.

In his remarks, the Senate President, Godswill Akpabio, urged Buhari to make available copies of  “Arrogance of Power”, authored by the deceased to all senators to guide them aright at all times.

UN secretary hails Otti’s development initiatives

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UN secretary hails Otti’s development initiatives

Assistant Secretary-General of the United Nations, Ms. Ahunna Eziakonwa-Onochie, has expressed her joy and excitement at the developmental giant strides being made by the governor of Abia State, Alex Otti, in such a short time in office.

Ms. Eziakinwa-Onochie, who also doubles as the UNDP Assistant Administrator and Director, Regional Bureau for Africa, made her feelings known during a meeting with the wife of the governor of Abia State and her team at the ongoing 68th Session of the UN Commission on the Status of Women, in New York, United States of America.

Speaking during the private meeting held in her office, the highly elated Eziakonwa-Onochie also expressed her joy at the giant strides geared towards the development of the state in such a short time under the leadership of Governor Otti, disclosing that she received very laudable reports from the UNDP meeting held last year in Rwanda about Governor Otti, a meeting which the governor himself attended.

Ms. Eziakonwa-Onochie further assured that UNDP intended to assist in bringing about sustainable growth in the area of commerce through the introduction of technological advancement in Aba shoe-manufacturing in order to ensure that finished products are exported, thus giving Aba-made products the recognition they deserve.

She once again reassured the wife of the Abia governor and her team of UNDP’s willingness to give further support to achieve the empowerment initiatives of the government of Abia State.

Appreciating the UN Assistant Secretary General for her kind words about the Otti administration, as well as her thoughtfulness geared towards supporting activities that would quicken the development of the state, Mrs Otti assured that her husband’s lofty plans and programmes for the state are enormous and would be executed to the fullest in line with his leadership vision and campaign promises.

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Obey House resolution, lift sachet alcohol ban, Reps tell NAFDAC

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Obey House resolution, lift sachet alcohol ban, Reps tell NAFDAC

The House of Representatives, on Wednesday, called on the National Agency for Food and Drug Administration and Control to stick to its resolution and lift the ban on sachet alcoholic beverages and pet bottles.

The Chairman, House Committee on NAFDAC, Mrs Regina Akume, gave the charge at a news conference in Abuja on Wednesday.

The House had on March 14, 2024, asked NAFDAC to lift the ban on the production of alcohol in sachets and pet bottles of less than 200ml.

The resolution by the House followed agitation and protests by distillers, who said the ban would throw 500,000 workers out of jobs and ruin N800bn investments.

Speaking on Wednesday at the news conference, Akume said the ban came at the wrong time considering the economic situation in the country.

 “The economy is struggling; the unemployment rate is staggering, and the inflation rate is soaring. The poverty level is on the increase and there is a paucity of foreign exchange to do business,” Akume said.

The All Progressives Congress lawmaker said instead of the ban, NAFDAC should enforce regulations and access control such as the establishment of licensed liquor stores/outlets in local government areas across the country.

“NAFDAC should make it unlawful to send underaged people to purchase alcoholic beverages,” she said.

She also advocated increased monitoring and compliance checks by NAFDAC to ensure strict product quality in terms of content and safety.

She also called for the recycling of used materials for the promotion of the green economy.

This, she said, would minimise the importation of raw materials used in producing these pet bottles and sachets, thus conserving the foreign exchange.

The House a few weeks ago, described the ban as a move against the spirit and letters of the constitution as well as the economic recovery plan of the President Bola Tinubu-led administration.

Medlab West Africa holds Lagos conference

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Medlab West Africa holds Lagos conference

Medlab West Africa and Pharmaconex West Africa have said they will reshape the healthcare landscape and accelerate innovation across West Africa with their forthcoming conference.

A statement by the firms said the conference would hold between April 22 and 24, 2024, at the Landmark Centre, Lagos.

According to the statement, the conference “offers unparalleled opportunities for industry professionals, thought leaders and businesses to collaborate and drive positive change within the medical laboratory and pharmaceutical manufacturing sectors.”

The statement explained that Medlab West Africa would also feature six high-level CPD-accredited conferences, to allow attendees to deepen their knowledge through targeted sessions led by renowned experts, covering critical topics like laboratory management and quality, hematology and blood transfusion, clinical microbiology and parasitology, molecular diagnostics, clinical chemistry, anatomic pathology.

Senior Exhibition Director of Medlab Series, Tom Coleman, said, “The return of Medlab West Africa marks a significant step forward in our mission to empower the West African medical laboratory sector. By fostering collaboration, career development, and knowledge exchange, we are contributing to strengthening the region’s healthcare infrastructure, improving patient outcomes, and creating a vibrant ecosystem where knowledge and expertise congregate.”

The Group Exhibition Director of Pharmaconex, Mostapha Khalil, said, “By connecting key stakeholders across the value chain, we aim to accelerate medicine discovery, development, and manufacturing, ultimately improving access to life-saving medication for all.”

Excess cash in circulation may worsen inflation – MPC members

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Excess cash in circulation may worsen inflation – MPC members

Members of the Monetary Policy Committee of the Central Bank of Nigeria have blamed the excess cash in circulation for the accelerating inflation in the country.

This was revealed in the statements they made at the February MPC meeting, which was posted on the website of the apex bank on Monday.

One of the MPC members, Pauline Odinkemelu, said, “On the monetary sector, growth in money supply (M3) rose by 18.25 per cent to N93.72tn at end-January 2024 over the preceding December. Broad money (M2) and narrow money (M1) grew by 17.81 and 3.68 per cent, respectively at end-January 2024.

“The growth in broad money supply was driven by the rise in other deposits, transferable deposits, and securities other than shares. In my view, the growth in M1 could further worsen inflationary pressures in the economy, as it signals rising transactional motives or excess liquidity in the system. The motive for holding excess liquidity is generally classified into precautionary or voluntary motives.”

According to to Odinkemelu, precautionary excess liquidity portion is useful as a buffer for insuring bank capital and uncertainty surrounding customers’ withdrawal, and does not have negative effect on monetary policy.

“However, involuntary motive usually above the desired level– a common feature of developing economies banking system – is not desirable during this period of persistent inflationary pressure, and also influences my decision to vote for monetary policy tightening. In voting for tightening, I am mindful of the implications of a rate hike on the stability of the banking system and therefore, will vote to raise the Monetary Policy Rate (MPR) by 300 basis points from 18.75 per cent to 21.75 per cent,” she stated.

Money Supply statistics from the CBN as of January 2024 revealed that currency in circulation surged by 163 per cent in January 2024 to N3.651tn from N1.39tn in the corresponding period of last year.

Month-on-month, there was a marginal 0.1 per cent decline from the historic high of N3.653tn in December 2023.

In the same vein, currency outside banks grew by 314 per cent to N3.28tn in January 2024 from N0.79tn (January 2023), implying that 89.86 per cent of the currency in circulation was outside the banking system as of January 2024.

That was a notable rise from the 57.14 per cent recorded in January 2023, following the CBN’s naira redesign.

The currency out banking system marked its all-time high at 94 per cent in December 2023 and makes up 84.46 per cent on average of currency in circulation between 1960 and January 2024.

Another MPC member, Mustapha Akinkunmi, added that Nigeria witnessed a decrease in its reserve money to approximately N24.2tn by the end of January 2024, while broad money supply increased to N93.7tn, noting that this exacerbated inflationary pressures within the country.

The Director General of the Securities and Exchange Commission, Lamido Yuguda, who is also a member of the MPC, said that loose monetary policy prevailed for most of 2023 leading to excess liquidity in the system.

“Reserve money increased by 54.28 per cent between December 2022 and December 2023, while broad money (M3) increased by 50.88 per cent over the same period, well above the provisional benchmark of 28.21 per cent.

“The 50.88 per cent increase in broad money from NGN 52.2tn in December 2022 to N78.7tn in December 2023 was driven mostly by a 46.27 per cent increase in net domestic assets, which rose by NGN 22.4tn. In other words, this represents additional credit created in the economy.” According to Yuguda, while reserve money declined by 2.34 per cent in January 2024 relative to December 2023 driven largely by a decline in liabilities to other depository corporations broad money (M3) increased by 18.25 per cent within one month, adding to the high level of excess liquidity in the system.

Private firm withheld FG’s N32bn metre fund for 20 years -Adelabu

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Private firm withheld FG's N32bn metre fund for 20 years -Adelabu

The Minister of Power, Adebayo Adelabu, has explained how a private company reportedly held on to N32bn paid into its account in 2003 for the supply of three million prepaid metres.

According to a statement by the minister’s Special Adviser, Strategic Communications and Media Relations, Bolaji Tunji, on Wednesday, the Federal Government had entered a tripartite agreement with Messrs Ziklagsis Network Limited and Unistar International in 2003 for the supply of three million meters to distribution companies in the country, within three years.

The statement indicated that to kick start the project, a revolving metering loan of N32bn was released to Messrs Ziklagsis.

“The agreement was not implemented while the fund remained in the bank account of Ziklagsis at the then Prudent Bank from where it moved to Skye Bank, Polaris and lately, Providus Bank,” the statement read.

With the privatisation of distribution, Adelabu said the government proposed the metering of Ministries, Departments and Agencies in order to accurately determine the consumption of these MDAs and also reduce accumulated debts, saying “This was what led to the initiative to metre military formations nationwide.”

While debunking reports that due process was not followed in the mass metering project of military formations, which began last week, Adelabu recalled that the Nigerian Army, worried by its huge electricity debt, wrote a letter to the presidency requesting intervention to pay off the outstanding debt and the metering of their formations.

The Federal Government, he said, directed the ministry to look into the Army’s request and utilise the N32bn with Ziklagsis.

The statement added, “It was then that Ziklagsis was introduced to the Nigerian Army by the Ministry of Power. It was around this period that the Nigerian Army also introduced De Haryor Global Services to Ziklagsis to enable them to work together.

“In November 2022, discussion began on the project among the parties and an agreement was signed between the Nigerian Army as a client, Messrs Ziklagsis as project supervisor and De Haryor Global Services as a service provider to commence the metering projects in Army barracks at a cost of N12.7billion, under the MDAs metering project. This predates the appointment of Adelabu as Minister of Power. In spite of this, the money was not released to the service provider that had already gone ahead to seek funds for the acquisition of smart metres.

“Concerned about the over eight million metre gap in the country and the liquidity squeeze in the Nigeria Electricity Supply Industry, the minister wondered how money meant for a national project could be held up untouched for over 20 years by an individual.

“He, therefore, mounted pressure and escalated the matter to the presidency for the retrieval of the revolving fund from Messrs Ziklagsis plus accrued interest to date. This was duly approved by the President. Upon the President’s approval, N12.7 billion was therefore to be released in tranches to De Haryor Global Services to commence installation of already procured smart meters.

“The minister should therefore be commended for his effort in ensuring the recovery of the revolving metre fund which had been untouchable for over 20 years, thus enabling the eventual take-off of the project.”

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