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Investors profit N130bn amid moderation in trade volume, deals

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Despite investors making N130 billion at the end of trading, trade on the Nigerian Exchange Limited calmed on Tuesday.

For the second day in a row, there was positive trade on the local exchange as the market capitalization and the All-Share Index both increased by 0.33 percent to close at N39.348tn and 71,907.26 basis points, respectively. The ASI’s year-to-date gain increased to 40.30 percent.

The number of deals and the volume of traded equities fell by 7.32 percent and 14.86 percent, respectively, to close at 6,498 deals and 319.56 million units, despite the market’s ongoing upward trajectory. In the meantime, from N3.85 billion on Monday to N5.88 billion today, the total transacted value increased by 52.54%.
The sectorial performance revealed a bearish trend as three out of five stocks closed in the red zone. NGX Insurance, NGX Oil/Gas and NGX Industrial Goods indexes declined by 0.49 per cent, 1.03 per cent and 0.01 per cent, respectively.

Read Also: FRC Imposes N500m Penalty On NIMASA For Noncompliance With Financial Reporting Standards

Nonetheless, the Consumer Goods and Banking indices both saw gains, rising by 0.01 and 0.67 percent, respectively.
At the end of the day, the exchange showed that there were 25 losers and 24 winners.

Infinity Trust Mortgage Bank, SCOA, Daar Communications, Royal Exchange, and Neimeth were among the stocks that caught investors’ attention on Tuesday. These companies’ share prices saw notable increases of 9.79%, 9.46%, 8.82%, 8.47%, and 7.89%, respectively.
Tier-1 banking stocks, such as Zenith Bank, AccessCorp, and Guaranty Trust Holding Company Plc, were the main drivers of the market. The most traded stocks were those owned by FCMB.

By the end of trading, Julius Berger was the most actively traded investment in terms of volume and value, having moved 42.54 million units for N1.46 billion over 42

EFCC declares former power minister Agunloye wanted

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The Economic and Financial Crimes Commission has proclaimed Dr. Olu Agunloye, a former Minister of Power and Steel, to be sought.

The minister, who is from Ondo State’s Akoko North Local Government Area, was put on the anti-graft agency’s wanted list due to a suspected case of forgery and corruption.

The EFCC reportedly questioned Agunloye in September on a purported $6 billion Build, Operate, and Transfer contract.

On Wednesday, the commission informed the public and made this disclosure on its website.
The EFCC shared material that included a photograph of Agunloye.

Read Also: Bauchi court sentences two men to 35 years in jail for culpable homicide

“If you have any useful information regarding his whereabouts, please get in touch with the Commission at its offices in Benin, Kaduna, Ibadan, Sokoto, Maiduguri, Mardi, Ilorin, Enugu, Kano, Lagos, Gombe, Uyo, Port Harcourt, and Abuja. Alternatively, you can reach us at 08093322644 or email info@efcc.gov.ng.”

Agunloye became the Social Democratic Party’s nominee for governor of the state in 2016 after joining the organization.

Ondo crisis: Deputy takes over as Akeredolu returns to Germany for treatment

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Tinubu meets with Ondo leaders once more; the failing governor will forward a letter to parliament.

• Akeredolu guarantees a full recovery before returning to the assembly during a closed-door meeting.

Governor Rotimi Akeredolu of Ondo State, who is sick, is going back to Germany to receive more care.

Mr. Richard Olatunde, the chief press secretary for the governor, said in a statement on Tuesday that Akeredolu would send a letter to the state House of Assembly designating his deputy, Lucy Aiyedatiwa, as the acting governor.

Said to have cancer, Akeredolu has been traveling to Germany for treatment, at which time he turned himself over to Aiyedatiwa in an acting capacity.

On April 3, 2023, and July 10, 2023, the governor took medical leave.

He then turned control over to the deputy governor. On September 7, he left the nation again and wrote to the state House of Assembly to let the members know.

Despite coming back to Ondo State in September from a medical leave in Germany, the governor was not seen there since he was reportedly residing at his Ibadan private property.

Due to his absence, the state experienced a leadership vacuum, and the executive council split into groups loyal to the deputy governor and the governor.

In September, the governor fired all of the media assistants working for the deputy governor’s office.

The assistants were fired due to their disobedience and flagrant contempt for the proper authority, according to an insider source.

The state leaders of the All Progressive Congress and Mr. Olamide Oladiji, the speaker of the state assembly, met with President Bola Tinubu in November.

Informing the media in Akure of the meeting’s decision on November 28, Oladiji stated that all parties involved had decided to withdraw their court petitions and to end the impeachment procedures.

He claimed that before taking office, the deputy governor was required to draft an undated resignation letter.

Unfortunately, the parties to the dispute refused to drop their legal actions, therefore none of the resolutions were put into action.

Olatunde, the chief press secretary for Akeredolu, announced in a statement that Tinubu had opted to return to Germany on Wednesday for medical treatment, following the party leader’s meeting with the deputy governor and state APC officials on Monday night.

“Governor Akeredolu will prioritize his health and ensure a full recovery before resuming his official duties,” Olatunde stated. “He will take a medical leave of absence.” The House of Assembly will get a formal notice of power transfer in accordance with the Nigerian constitution and an official letter regarding the medical leave.

“When Governor Akeredolu is not present, the Deputy Governor, the Honorable Lucky Orimisan Aiyedatiwa, will act as the governor.” In his message, Governor Akeredolu thanks the people of Ondo State for their steadfast love and support. He reassures them that his government is still dedicated to advancing the interests of the populace and bringing about prosperity.

Help for Akeredolu

“Governor Akeredolu has routinely given authority to his deputy while on his yearly vacations as a Senior Advocate of Nigeria and a well-respected Nigerian. On April 1, 2021, April 1, 2022, April 3, 2023, and July 10, 2023, when he left on prior vacations, this pattern was noted, according to Olatunde.

Our correspondent’s research, however, revealed that as of Tuesday night, when this article was filed, the Assembly—which convened in private on Tuesday—had not yet received Akeredolu’s letter.

“During the meeting on Monday, the President instructed the House to obtain the letter transferring power to Aiyedatiwa. If they were unable to obtain the letter from the governor, the House was to adopt the Doctrine of Necessity,” according to a source in the Assembly.

“I am confident that the House will release a statement tomorrow (Wednesday),” the legislators said after debating the presidential direction. However, the Assembly has not yet received the governor’s letter when I speak with you.

The Assembly spokesperson, Mr. Olatunji Oshati, informed our correspondent over the phone, “I will call you back.” I’m in a meeting with the legislature.

Aiyedatiwa has been encouraged to launch a probe into claims of forgery of Akeredolu’s signature by an organization called the Ondo State Conscience Movement.

If confirmed, the accusations would seriously jeopardize the legitimacy of the state’s leadership, as well as its resources and reputation, according to a statement released by the group on Tuesday and signed by its chairman, Shalom Olaseni.

“We must draw attention to the detrimental effects of the purported forgery of the governor’s signature,” Olaseni stated. Such an act jeopardizes not only the state’s democratic foundation but also the distribution and application of resources. The possible mishandling of the sick governor’s signature can result in financial theft, damaging Ondo State’s image and imperiling its development initiatives.

“The Ondo State Conscience Movement makes a direct appeal to Lucky Aiyedatiwa, the acting governor, pleading with him to use his power and launch a swift and thorough investigation into the claims that members of his cabinet had faked the signature of Governor Rotimi Akeredolu.

“Mr. Lucky Aiyedatiwa is essential to maintaining the values of justice and accountability as the present steward of the state’s executive responsibilities. The Movement is begging him to stand up for openness by ordering a comprehensive investigation and making sure the results are released to the public. This action would not only show his steadfast devotion to the integrity and well-being of Ondo State, but also his adherence to the rule of law.Thus, an in-depth examination of the purported signature forgery is strongly demanded by the Ondo State Conscience Movement. To maintain transparency and keep persons accountable for their actions, the results must be made public. The movement claims that this inquiry is an essential step in restoring the integrity of the state’s governing systems as well as an issue deserving of legal examination.

According to a related development, the state’s citizens, not outside parties, are the only ones who can fix the state’s ongoing political problem, according to lawyer Dr. Tunji Abayomi.

The SAN counsels natives

In an interview with journalists in Akure on Tuesday, Abayomi—who also serves as the pro-chancellor of the Adekunle Ajasin University—stated as much.

“The crisis is not resolved in Abuja,” he declared. The president is just there to assist us. The issue in Ondo State has to be resolved. The President is not authorized by law to rule the state. He is limited to governing the nation. The Ondo State executive is the one with resolution power. We must find a solution, and whether or not one is found is up to the Ondo State authorities.

Nigerian government reveals intention to phase out cars

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Through the National Vehicle Registry Policy, or VREG, the Nigerian government has revealed plans to stop the smuggling of automobiles into the nation.

VREG unifies vehicle data from multiple organizations, such as the Federal Road Safety Corps database, the Nigeria Customs Service, the Police, Vehicles Inspection Offices, and the National Central Vehicles Data.

Wale Edun, the Coordinating Minister for the Economy and Minister of Finance, promised to stop car importers from evading customs duties when he spoke to attendees of the VREG Zonal Sensitization Campaign yesterday in Abuja.

“The Federal Ministry of Finance is burdened with the responsibility of managing the country’s finances and revenue streams,” he declared.

The government had to act quickly to address these problems because of the declining oil prices, the mono-economy, and revenue leaks via plugging loopholes such customs duty payment evasion.

In addition, despite Nigeria being the largest vehicle importer in Africa and having an additional 15 million vehicles operating there, there is a lack of a dynamic and centralized platform for national vehicular information.

The threats of customs duty evasion, a lack of data for the development of vehicular policies, nationwide vehicle administration for revenue leakages, vehicle theft and related crimes, difficulties enforcing traffic regulations, restricted access to credit facilities, and inadequate vehicle insurance coverage, monitoring, and evaluation had all been exacerbated by this massive vacuum.

It is noteworthy that the VREG has yielded several advantages since its inception in 2021. One such benefit is its ability to be used as a tool to reduce instances of customs duty evasion.

“At this point, VREG has been able to integrate with the important stakeholders present in a seamless manner, and these relationships have resulted in the exchange of dynamic, real-time information.”

Rivers crisis: Intrigues, twists as Wike, Fubara resume fight

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Following what appeared to be a brief respite, the political crisis engulfing Rivers State took on a new significance on Monday when 27 of the 32 members of the State House of Assembly defected from the Peoples Democratic Party (PDP), which is in power, to the All Progressives Congress (APC).

According to observers, President Bola Ahmed Tinubu’s purported mediation of the conflict between Rivers Governor Siminalayi Fubara and Federal Capital Territory (FCT) Minister Nyesom Wike failed, as evidenced by the current issue.

The State Assembly attempted to impeach the governor as a result of the stress and division caused by the irreconcilable political differences between Fubara and Wike.

In the process, a bomb was dropped on the House of Assembly compound.

Fubara was charged by Wike with planning the fire that destroyed a portion of the State House of Assembly building.

He asserted that Governor Fubara made the action upon discovering that he was the target of an impeachment attempt.

When Fubara and a few aides visited the complex to evaluate the extent of the explosion’s damage, the police used tear gas on them. This gave rise to a split among state lawmakers, with one faction supporting Wike and the other remaining loyal to the governor.

Previously, attorney and Pan-Africanist Chetam Thierry Nwala had claimed that Rivers State’s political turmoil resulted from unmet demands made by Wike.

Speaking on Arise Television, Nwala claimed that the ongoing conflict started from Governor Fubara’s refusal to give Wike, his immediate predecessor, a quarter of the State’s budget.

He asserted that Wike had insisted on receiving twenty-five percent of the funds allotted to Rivers State.

Nwala continued by claiming that Wike sought N2 billion from the N5 billion that the federal government had just given the states as palliative measures to lessen the impact of the elimination of gasoline subsidies.

The majority of the governor’s assistants, including commissioners and the chief security officer, were reportedly appointed by the FCT Minister.

Wike requested a quarter of Rivers State’s allotment. We’ve heard that the governor even extended an offer to give him ten percent. This is the situation that exists in our state.

Not only that, but Wike also named the governor’s chief security officer in addition to nearly all of the commissioners.The governor ought to be concerned about these personal matters. These are factors that ought to incite him to rebel.

We have observed instances in which Wike’s appointed commissioners disdain the governor. Everyone will, of course, rebel. You can’t count on the governor to honor any pre-election agreements.

Let me also startle you: Wike wanted N2 billion from the N5 billion in palliative funds that were delivered to Rivers State. This is the reason why some of us applaud Fubara’s moves,” he said.

In response to the claim, Wike stated that his disagreement with Governor Fubara was solely political.

If the Minister was asking for N20 billion a month, he claimed it was politics. He questioned Fubara’s whereabouts throughout their argument.

Wike also promised to uphold his framework and continue to be politically relevant.

“It’s politics if I demand N20 billion every month and even give myself all the contracts. When I was battling, where was he?

“I need to preserve my political framework and remain politically relevant. I can’t let someone cut me off right away.

The minister responded, “If you like, accuse me all you like; I won’t have a sleepless night because the right thing must be done.”

Additionally, Wike had previously asserted that the Peoples Democratic Party, or PDP, was investigating the political turmoil in the State.

In keeping with the theme, Fubara also claimed that there was nothing wrong with a “father and a son” having disagreements. This seemed to be a reference to the split that existed between him and Wike, who assisted in his installation as governor.

I understand that everyone is curious about what is and is not happening in our beloved State. There is no issue; we are fine,” he remarked.

“If there is an internal problem, it will be fixed, and business as usual will resume.

The governor declared, “If there is a problem, it is between a father and a son, but I don’t think there is anything wrong with it; whatever it is, we will definitely resolve the issue.”

Fubara, however, has recently adopted a more accommodating stance and promised never to let intimidation or blackmail to take the State.

He maintained that the State belongs to the people and that he would defend it against extortion.

At the Rivers State Council of Traditional Rulers’ quarterly general meeting in Port Harcourt on Monday, he gave a speech.

“Remember that Rivers State is our collective inheritance, and it is my responsibility as governor to safeguard, defend, and enhance it.

“I promise that I will fulfill my obligations to you and that I will not give up on our mission in favor of coercion, extortion, and intentional damage.

The governor declared, “There is nothing to gain in a state of unnecessary crisis. I reaffirm my earlier statement and recommit myself to the path of peace.”

Nevertheless, the issue that is roiling the State took a fresh turn on Monday when twenty-seven State House of Assembly members who support Wike defected to the APC from the PDP.

The lawmakers said that the main cause of their departure to the APC was internal PDP strife.

Around eight in the morning, the decision was made with the defecting members sitting under heavy security at the entrance to the Assembly compound along Moscow Road in Port Harcourt.

In an apparent countermove, Fubara also called a meeting of the executive council to discuss an emergency. The 2024 budget plan was agreed at the meeting, which was also anticipated to address the resignation of 27 State House of Assembly members from the PDP to the APC.

In the meantime, the Independent National Electoral Commission, or INEC, has received a letter from the PDP national leadership requesting new elections to replace the 27 Rivers lawmakers.

This was stated in a press release that Debo Ologunagba, the party’s national publicity secretary, signed.

Ologunagba claims that because the defecting MPs ran for office in their respective areas on the party’s platform, their seats are now empty.

“The seats of the respective 27 former lawmakers have become vacant by virtue of the provision of Section 109 (1) (g) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended),” Ologunagba stated, citing the party’s constitution.

The Speaker of the Rivers State House of Assembly has been asked by the Labour Party (LP) to declare vacant the seats of the 27 members who left the party that supported their election.

In a further development on Tuesday, Edison Ehie was formally recognized as the Speaker of the state’s House of Assembly by a sitting high court in Port Harcourt.

Fubara has the support of four legislators, including Edison Ehie.

The Wike-supporting colleagues of Edison suspended him and took away his leadership position in the house.

Martins Amaewhule and Dumle Maol were instructed by Judge M.W. Danagogo, who rendered the decision, to cease representing themselves as the Speaker and Deputy Speaker of the Rivers State House of Assembly. The court issued a warning against trying to access the Assembly Complete with the help of police officers and goons.
The subject, a Peaceland University, Enugu, Nduka Odo communication scholar and public affairs analyst, asked the governor of Rivers to win over people’s hearts by spearheading transformative initiatives throughout the state.

“Running to the people of the state is the best way to fight ruthless godfathers,” he said.

Odo advised Nigeria set up a structure that checks this kind of diversion by political godfathers, even as he questioned why such a drama should be permitted to carry on at the expense of the state’s growth.

“You’re asking me what my view is,” he said. In response to you, I would like to know if this is the first time we’ve had this shift in power between the parties.

Not at all. It’s not. Regrettably, politicians and powerful men will sadly continue to alter the political landscape for their own selfish ends.

“I would have chosen a side in the dispute, but as of right now, there is no evidence to suggest that one of the two sides to the Rivers State conflict is acting in the public interest. Everyone is exerting great effort to maintain their position of power.

“Let’s observe to see how long Fubara can continue fighting. The story will eventually run its course and we shall witness the entire thing.

“My honest recommendation to him is to follow Chris Ngige’s path when he faced attacks from godfathers while serving as governor. Running to the people of the state is the strongest defense against vicious godfathers.

“Start transforming lives throughout the state by gaining people’s hearts.

“The other choice is to engage in dirty warfare. Enugu’s Sullivan Chime did it in opposition to Chimaroke Nnamani. The political issue in Rivers State is centered on Nyesom Wike, who treated Chibuike Amaechi similarly in the past. He ought to take his cue from Obaseki of Edo, who had to contend with Oshiomole, his predecessor.

“Fubara’s third choice is to give in and follow Wike’s wishes. Finally, Wike makes the decision to remain or be banished, just like Ambode of Lagos.

The 27 state legislators have demonstrated their allegiance to Wike. The outcome of the fight will determine their fate. Wike or Fubara?

“We are unaware of the arrangement that Wike and the President had, but he is firmly depending on his support of the Jagaban’s mandate. In a recent video, of course, he danced and sang along to it.

However, Mr. President—not Fubara—will be the one to bring him to his knees.

“Fukara could easily come to an agreement with Mr. President as an incumbent governor. That’s it. Nobody who values their position wouldn’t want to defend it against someone who has openly demonstrated they will stop at nothing to obtain authority.

For this reason, I think the president wouldn’t want Wike to keep having unrestricted authority over Rivers. Not in response to Rivers, but rather to protect his position at Aso Rock.

“I suggest that Nigeria set up a mechanism to prevent this kind of diversion. How can we let these tragedies go on at the expense of the state’s advancement?

FRC Imposes N500m Penalty On NIMASA For Noncompliance With Financial Reporting Standards

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The Financial Reporting Council of Nigeria (FRC) has suspended the 2018 audited financial statement of the Nigerian Maritime Administration and Safety Agency (NIMASA) for non-compliance with financial reporting standards.

In a public notice on Thursday, the FRC management directed NIMASA to begin the process of restating its audited financial statement for the year ended December 31, 2022. The council also imposed a type six penalty of N500 million for the withdrawal of the financial statement.

The action, the council said, was in accordance with the FRC Act 2011 (as amended) and the council’s guidelines and regulations for the inspection and monitoring of reporting entities.

“The FRC registration numbers of certifiers of NIMASA’S Audited Financial Statement, Dr. Bashir Jamoh (FRC/2017/CIANG/00000016699) and Chudi Offodile (Unregistered), are hereby suspended,” the statement reads.

“This suspension renders them incapable of certifying any financial statements in Nigeria. The 2018 Audited Financial Statements of NIMASA are hereby withdrawn, and NIMASA is directed to restate its 2018 audited financial statements.

“NIMASA is required to publish, within seven (7) working days from the date of this notice, in at least two national newspapers (full page), that their 2018 financial statements and returns have been withdrawn for non-compliance with Financial Reporting Standards.”

The FRC said it would immediately post the information on its website and inform other regulatory agencies that the defective financial statements have been withdrawn.

Speaking on the restatement process and submission of financial statements, the council directed NIMASA “to begin the process of restating the 2018 audited financial statement in accordance with the FRC Act”.

According to FRC, the preparation and submission of the agency’s audited financial statements for the years ended December 31, 2019, 2020, 2021, and 2022 will be based on the restatement.

“NIMASA is required to file the restated financial statements for 2018, together with the management letters issued by their external auditors, with the Council within 60 days,” FRC said. “Penalty Imposed: The Council hereby imposes a Type 6 penalty of N500,000,000 (Five Hundred Million Naira) for the withdrawal of the 2018 financial statement, in line with Regulation 18 of the FRC Guidelines/Regulations 2014.”

The FRC said it is committed to maintaining financial reporting standards and ensuring the accuracy and reliability of financial statements. The action against NIMASA, the council said, serves as a reminder to all reporting entities of their responsibility to adhere to established guidelines and rules.

RIVERS: Group Gives INEC 14 Days Ultimatum to Conduct Bye-Elections To Replace 27 Vacant Constituencies

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The National Democratic Congress (NDC) has given the Independent National Electoral Commission (INEC) a 14 days ultimatum to conduct bye-elections to replace the 27 vacant constituencies in the Rivers State House of Assembly.

This followed the defection of 27 lawmakers from the People’s Democracy Party to the All Progressives Congress.

Speaking at a press conference on Tuesday, Daniel Okwa, the group’s convener said the recent happenings in Rivers portends multiple levels of evil for democracy in the country.

Okwa said according to the Constitution of the Federal Republic of Nigeria, the 27 members have forfeited their seats at the state assembly hence the need for a fresh election.

Quoting from the Constitution, Okwa stated: ” A member of a House of Assembly shall vacate his seat in the House if – being a person whose election to the House of Assembly was sponsored by a political party, he becomes a member of another political party before the expiration of the period for which that House was elected”.

He added: “The 27 controversial lawmakers must simply comply with the position of the law by vacating the Rivers State House of Assembly having breached Section 109 (g) of the Constitution that brought them into office. Under the law, these lawmakers cease to be elected representatives of the people and their offices must be declared vacant.

“We find it most unfortunate that the 27 former Rivers State House of Assembly members were misinformed and misled into defecting from the PDP to the APC without realizing that their action effectively means they have vacated their seats as elected lawmakers. It is an action that they have themselves to blame for.

“Had they properly consulted instead of taking orders from someone who has secured himself a long-term political meal ticket, they would not be in the current sorry pass where they will now have to take part in bye-elections, assuming they can clinch tickets in their new political party.

“It is on this note that the National Democratic Congress (NDC) notes with concern that what is playing out in Rivers State portends multiple levels of evil for democracy in Nigeria.

“On one front, if the criminality playing out at the Rivers State House of Assembly is allowed to stand it will signal a dangerous phase in the descent into the one-party state that the NDC and other vigilant groups and individuals have been warning about. Had we been more strident and resolute in demanding that the right thing is done, perhaps we would not be in this dangerous situation.

“It is a matter of time before lawmakers in other states are induced, coerced, blackmailed, or railroaded into dumping the party on whose platform they were elected for the APC. When that begins to happen it would be too late to make any demands of those who will engage in such nefarious acts if we do not at this time correct those that have stood our democracy on its head.

“At a time when we now fear for our judiciary, this slap on the face of the law further undermines the judiciary if what the Supreme Court has been definite about in the past is again resurfaced. The Supreme Court had sacked lawmakers who became members of political parties that did not sponsor them into parliament even when their initial political parties were in crisis.

“To now repeat the same political brigandage and expect the Supreme Court to budge is insanity because the only other explanation would be that a plot has been perfected to undermine the judiciary in this matter, which is an even bigger threat to democracy.

“Our Congress is not unaware of the political connections at play here. It is common knowledge that the immediate past governor of Rivers State, Mr. Nyesom Wike is at loggerheads with the incumbent governor, Siminalayi Fubara.

“We have no qualms with Wike decamping from the PDP to APC – he currently holds no elected position, so the vacation of office does not apply to him. But since the 27 lawmakers, in their recognition of Wike as their godfather, decide to cross into the APC ahead of him, they are welcome to do so but that is to the extent that they comply with the law by vacating their position. The dangerous drama they are staging by breaching the Constitution is not acceptable.”

The group, however, warned that failure on the part of INEC to comply with the law will result in citizens’ actions against the electoral body.

“We urge President Bola Tinubu to come out in clear terms and condemn the criminality being attempted in the name of the political party he leads, the APC.

“The President should tell Wike and the former lawmakers in clear terms that he cannot be associated or seen to be encouraging this shenanigans.”

INEC swears in 9 news RECs

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Prof. Mahmood Yakubu, Chairman of the Independent National Electoral Commission, swore in nine new Resident Electoral Commissioners on Tuesday.

On November 1, 2023, the Senate approved the appointment of seven of President Bola Tinubu’s nominees to the Commission as RECs.

Tinubu requested approval of the nomination of the RECs for INEC in compliance with Section 154(1) of the Constitution.

Yakubu told the nine new RECs at the INEC headquarters in Abuja that conducting elections was not only a big burden but also a sacred obligation, encouraging them to be led by the electoral legislative framework, the REC code of conduct, and good conscience.
“Conducting elections is not only a huge responsibility, but also a sacred duty,” he remarked. As RECs, you will be the Commission’s representatives in the several states where you will be sent shortly.

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“I implore you not to get involved in a pointless debate that adds nothing to your work.” At the same time, you must not be impervious to valid criticism. You must continue the Commission’s practice of regular discussions with key stakeholders.

“You must always be firm in ensuring fairness and transparency to all.” Let me state unequivocally that you must always be led by the election legal framework, the REC code of conduct, and your good conscience.

Mahmood went on to say that this was the first time multiple INEC career officers had been selected as RECs, and he urged them to get started right away.

“Four of the nine new RECs are career officers of the Commission who have advanced to the rank of Director.” They have been involved in elections and electoral activities both in the field and at the headquarters.

on the part of any REC.”

The INEC chairman further stated that the 10th REC-designate would be sworn in next month, following the expiration of the mandate of the REC representing Akwa Ibom State, who is now deployed to Delta State.

“Today, nine out of the ten RECs screened and confirmed by the National Assembly were sworn in at this ceremony,” he stated.

“The tenth REC-designate will be sworn in next month, following the expiration of the tenure of the REC representing Akwa Ibom State, who is currently deployed to Delta State.” Because of the proactive decision made by the appointing authority, there will be no extended waiting period until the vacancy is filled.Similarly, I must caution you to recognize and work within the boundaries of your authorized authorities and obligations. Our state offices are an integral component of the Commission, and we will not hesitate to deal with acts of defiance, indiscretion, or transgression.

“Let me therefore take this opportunity to thank the outgoing REC in Delta State, Reverend Dr Monday Udo Tom, for his selfless and dedicated service to the commission and the nation.” The same gratitude is extended to all the other RECs whose tenure ended after honorable service.”
“Their backgrounds included electoral operations, election and party monitoring, and electoral litigation.” This is the first time that multiple INEC career officers have been appointed as RECs. You’re not new to election administration. There is no learning curve for you.

“As a result, there are no excuses for failing to get off to a good start and making a significant difference in the quality and transparency of elections.” The other five RECs were sworn in today and have diverse experience in public service at both the national and state levels. We will hold you to the same standard as the Commission’s career officers.”

The new RECs have been deployed as follows: Abubakar Dambo Sarkin Pawa, Kebbi; Abubakar Ma’aji Ahmed, Borno; Dr. Anugbum Onuoha, Edo State; Ehimeakhe Shaka Isah, Akwa Ibom; Aminu Idris, Kaduna; Mohammed Sadiq Abubakar, Kwara; Barr. Oluwatoyin Babalola, Ondo; Olubunmi Omoseyindemi, Ekiti; and Shehu Wahab, Nasarawa.

Barr. Oluwatoyin Babalola, who addressed on behalf of the newly sworn-in RECs, committed to stay true to their duties while acknowledging their responsibilities as RECs in Nigeria.

Barr. Oluwatoyin Babalola of Ekiti State was the Director of Legal Services at the commission’s headquarters prior to her appointment.

Aminu Idris of Nasarawa state retired as the director of the Election and Political Parties Monitoring Department at the INEC headquarters.

Shehu Abdulwahab was the INEC’s administrative secretary in Benue State before being named a REC.

Bauchi court sentences two men to 35 years in jail for culpable homicide

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Adamu Abdulra’uf and Abdulkadir Wada have each been sentenced to 35 years in prison for causing serious harm and attempting culpable homicide on a six-year-old girl.

Abdulra’uf, 20, and Wada, 21, were convicted and punished by Justice Rabi Umar after pleading guilty to the charge.

Earlier, Mr Sabiu Gumba, the Prosecution Counsel, informed the court that the two defendants, Abdulrauf and Wada, were arrested on a three-count charge of criminal conspiracy, causing severe hurt, and attempting to commit culpable homicide on August 17, 2021.
The prosecution called four witnesses, including the victim’s father, while the defendants testified only for themselves and called no other witnesses.

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Gumba displayed two of the blades used in the murder, as well as a vial containing the girl’s private parts and a chemical.

On December 30, 2020, the defendants are accused of strangling one Hauwa’u Ya’u in the state’s Jama’are Local Government Area.

Ya’u, who was six at the time, passed asleep before her private area was cut off for ritual purposes.

Bode George: Labour Party formed out of anger, PDP should woo Peter Obi to return

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The Labour Party (LP) was founded out of rage, according to Bode George, a prominent member of the Peoples Democratic Party (PDP).

According to George, LP lacks the necessary organization to win national elections.

Speaking to reporters, he urged Peter Obi, the 2023 LP presidential contender, to rejoin the PDP.

George claims that the Labour Party lacks a foundation. I have traveled to every state in the union; you will never be unaware of our party’s existence anywhere because it embodies Nigeria in its whole.

“There is no firm foundation for the LP; it was a trend. LP didn’t have the same roots as us; it was born out of rage. LP is a breeze. Obi was where? If he wants to, we can still speak with him.

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“There is not a trace of tribalism in my lineage. In our country’s political process, and particularly within this party where some of us have suffered greatly for the cause of equality and justice for all, I stand to fight for inclusivity for all Nigerians.

“Since PDP is the only genuine national party, we as party leaders must not cater to ethnic affiliation.”