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Senate to Natasha: Keep Off the National Assembly

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Once more, the Senate has insisted that no court ruling requires the red chamber to recall Kogi Central senator Natasha Akpoti-Uduaghan, who is on suspension, and to order her to abstain from attending the UNGA.

In a statement released on Sunday, Senator Yemi Adaramodu, the chairman of the Senate Committee on Media and Public Affairs, said as much.

Sen. Akpoti-Uduaghan promised to continue at the National Assembly on Tuesday, and Adaramodu made his announcement after that. During a training session for her Kogi State constituency, the Kogi Central politician made a reference to her choice.
Before the six months are over, I have about two months left, she stated. With God’s special favor, I will resume on Tuesday, the 22nd, as I have written to the Senate once more to inform them.

“Since the court determined that, I will be present. However, they now contend that it is a decision rather than an order.

Adaramodu maintained that the troubled lawmaker, who was suspended for six months in March of last year for violating Senate regulations, did not intend to return because she misunderstood Justice Binta Nyako’s decision.

In his remarks, the Senate spokesman contended that “the honorable court gave a non-binding advice, urging the Senate to consider amending its Standing Orders and reviewing the suspension, which it perceivably might be excessive.” The court did, however, clearly state that the Senate did not violate any laws or constitutional provisions when it imposed the disciplinary sanction in response to the senator’s wrongdoing during plenary.

In order to give due process time to complete, the Senate advised Senator Akpoti-Uduaghan to avoid the National Assembly complex.

“The Federal Republic of Nigeria Senate wishes to reiterate, for the third time, that there is no existing court order requiring the Senate to recall Senator Natasha Akpoti-Uduaghan prior to the expiration of her suspension,” the statement states.

Following rumors that the suspended senator plans to return to the Senate on Tuesday, this explanation is required due to a misunderstanding of the most recent ruling rendered by Hon. Justice Binta Nyako of the Federal High Court in Abuja.

Upon the verdict and subsequent dissemination of the certified true copy of the enrolled order, the Senate, through my office, released two public remarks. The verdict did not contain any mandatory or affirmative directive requiring the Senate to recall Senator Akpo­ti-Uduaghan before the conclusion of her suspension, as we made clear in both remarks.

Instead, the honorable court issued a non-binding opinion asking the Senate to change its Standing Orders and reconsider the suspension, which it believed to be disproportionate. However, the court stated unequivocally that the Senate’s imposition of the disciplinary sanction based on the senator’s misconduct during plenary did not violate any laws or portions of the Constitution.

Additionally, the court declared Senator Akpoti-Uduaghan guilty of contempt of court and mandated an apology in two national newspapers and on her Facebook page, along with other penalties, including a N5 million fine payable to the Federal Government. These directives have not been followed up until this point.

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As a result, it is unexpected and illegal for Senator Akpoti-Uduaghan to be trying to implement a fictitious recall order while she is on appeal and has filed an application for a stay of the legally enforceable decisions against her. Once again, the Senate emphasizes that there is no legally binding order requiring her to return to the chamber right away.

In addition to being premature, we advise the distinguished senator to abstain from any attempt to enter the Senate on a false pretense next Tuesday. This would also violate due process and undermine the Senate’s dignity. As an institution dedicated to following the law, the Senate is dedicated to maintaining the integrity of its operations and the rule of law. Its operations will not be allowed to be interrupted.

At the proper time, the Senate will review the court’s advisory opinion regarding her recall and revising the Senate’s Standing Orders, and it will also inform Senator Akpoti-Uduaghan of its findings.

She is respectfully asked to avoid the Senate chambers until that time and give due process time to complete.

N6tn Scandal: SERAP Takes Legal Action Against Tinubu Over NDDC Report Secrecy

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Together with four other concerned Nigerians, the Socio-Economic Rights and Accountability Project (SERAP) has sued President Bola Tinubu’s administration in the ECOWAS Court of Justice for not disclosing the forensic audit report on the Niger Delta Development Commission (NDDC).

According to the report, between 2001 and 2019, senior government officials and politicians are accused of embezzling N6 trillion.

The late former President Muhammadu Buhari requested a forensic assessment of the NDDC’s activities in 2019 in response to complaints of big corruption. The wife of a former minister allegedly raised N48 billion over a 12-month period “to train Niger Delta women,” according to recent allegations made by Nyesom Wike, the Minister of the Federal Capital Territory (FCT).

Ben Omietimi Tariye, Princess Elizabeth Egbe, Chief Jude Igbogifurotogu Pulemote, and Prince Taiwo Aiye­datiwa are the four Nigerians involved in the lawsuit.

The plaintiffs are requesting: “a declaration that the Nigerian government’s failure to publish the NDDC forensic report amounts to a fundamental breach of the country’s international human rights obligations” in the case registered last Friday before the ECOWAS Community Court of Justice in Abuja under suit number ECW/CCJ/APP/35/25.

“An order directing and compelling the Nigerian government to publish and ensure access to information to the NDDC forensic report which has been submitted to the state but remains shrouded in secrecy” is what the plaintiffs are requesting.

Additionally, the plaintiffs are requesting “an order directing and compelling the Nigerian government to adopt and ensure effective measures to address transparency and accountability gaps in the execution of public funds budgeted for the NDDC.”

“We have a right to know the truth regarding the corruption allegations in the NDDC forensic report, and the Nigerian government has violated that right. By preventing the report from being published, the accusations made in it are being covered up and impunity is being perpetrated.

The public’s right to open access to information and to know what governments are doing on their behalf is implicit in freedom of expression; without it, the truth would linger and people’s involvement in politics would continue to be divided and unreal.

“The NDDC forensic report has not been published by the Nigerian government, and it has not given the plaintiffs or the Nigerian public any explanation or justification for doing so.”

Since the NDDC forensic report is a part of the freedom to seek, receive, and disseminate information of any sort, the Nigerian government is legally required to guarantee and ensure transparency and access to information.

“There is an overriding public interest in the publication and disclosure of the NDDC forensic report,” writes Kolawole Oluwadare, Kehinde Oyewumi, and Andrew Nwankwo, the attorneys for SERAP and the four concerned Nigerians, in their lawsuit.

“The Nigerian government’s persistent refusal to provide the NDDC forensic report damages the rule of law, infringes upon the plaintiffs’ other rights, and prevents the plaintiffs from thoroughly examining the report and holding the government accountable.

Since transparency, accountability, and human rights are topics covered by the African Charter on Human and Peoples’ Rights and the International Covenant on Civil and Political Rights, the information sought is not classified for national security reasons.

Article 9 of the African Charter on Human and Peoples’ Rights and Article 19 of the International Covenant on Civil and Political Rights both provide the fundamental human right of access to public information, which the Nigerian government is obligated to uphold, advance, and guarantee. There are two human rights treaties that Nigeria has ratified.

The Nigerian government is obligated to grant the plaintiffs access to the NDDC forensic report that is in its custody and control under Article 9 of the African Charter on Human and Peoples’ Rights and Article 19 of the International Covenant on Civil and Political Rights.

According to the NDDC forensic report, “the plaintiffs have the right to participate in matters of public interest, such as pursuing accountability and justice for victims of corruption.” Information access is a fundamental instrument for fostering citizenship.

“These issues of public interest are among the principles that underpin the International Covenant on Civil and Political Rights, the African Charter on Human and Peoples’ Rights, and other human rights treaties to which Nigeria is a state party.”

By having access to information about the NDDC forensic report, the plaintiffs would be able to effectively exercise their human rights and hold the Nigerian government responsible for the accusations made in the study.

Additionally, making the NDDC historical report available to the public would encourage democratic engagement and provide the people the ability to hold the Nigerian government responsible and combat corruption in the nation.

The principles of maximal transparency and good faith must be adhered to by state administration, including the Nigerian government, in order to ensure the full and efficient exercise of the right to access information.

According to Article 9 of the African Charter on Human and Peoples’ Rights and Article 19 of the International Covenant on Civil and Political Rights, the right to information is guided by the principle of maximal disclosure.

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“The maximum disclosure principle advocates for a legislative framework where access and transparency are the norm and are only subject to stringent and restricted exceptions. Secrecy is the exception, while the right to obtain information is the rule.

“Access to information is not always guaranteed; there may be restrictions on it.

The requirements established from international human rights law, which state that limitations must be exceptional, legally codified, founded on a legitimate objective, and necessary and proportionate for attaining that aim, must be met precisely by these limitations.

But the exceptions shouldn’t become the norm; they should consider that information access is the rule and concealment is the exception.

It is the responsibility of the Nigerian government to prove that restrictions on the dissemination and availability of information about the NDDC forensic findings are in line with both international human rights norms and the nation’s associated legal requirements.

Since the Nigeri­an government owns and controls the NDDC forensic report, it is imperative that the state refrain from using arbitrary and discretionary measures to impose limitations on the right to transparency and information.

The plaintiffs’ right to a legal remedy has been violated, and the denial of access to information on the NDDC forensic report is incompatible with the requirements of the International Covenant on Civil and Political Rights and the African Charter on Human and Peoples’ Rights.

However, there is no set date for the suit hearing.

2025 WAEC Will Hold as Scheduled — Education Minister Refutes Cancellation Report

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The 2025 WAEC exams were canceled because of rampant test malpractice, according to a story that has been refuted by Dr. Tunji Alausa, the Minister of Education.

The minister used Borio­wo Folasade to refute the rumor.

In a statement released on Sunday, the Director of Press and Public Relations stated that the 2025 WAEC exams had been successfully completed, with just a few isolated instances of malpractice being detected.

It claimed that the appropriate authorities responded quickly to each of the isolated cases.

Alausa stated: “A false and misleading statement that is making the rounds online claims that the 2025 WAEC exams will be canceled because of widespread examination malpractice has caught the attention of the Federal Ministry of Education.”

In order to make the following clear, the ministry would want to firmly distance itself from this false information: Only a few rare cases of misconduct were recorded during the 2025 WAEC exams, and those that were were immediately handled by the appropriate authorities.

No instances of examination malpractice have been documented as of this release, and the ongoing NECO examinations are proceeding without hiccups.

“There have been no official reports or communications from WAEC, NECO, or any other examination body to the Federal Ministry of Education about widespread malpractice in either of the examinations.”

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But the Ministry of Education advised the public, parents, students, and school officials to ignore the phony news release that is presently going around.

The ministry says it’s completely false, deceptive, and designed to create needless anxiety and confusion.

“It is recommended that the public only obtain information from reputable and validated sources, such as the Federal Ministry of Education’s official website: www.educa­tion.gov.ng.”

In order to improve monitoring and enforcement systems, the ministry stated that it will continue to work closely with examination bodies and is completely dedicated to maintaining the integrity, credibility, and orderly conduct of all public examinations.

It issued a warning that anyone discovered disseminating misleading information would be submitted to the relevant security organizations for an investigation and possible legal action.

‘Stingy’ but Strategic: Governor Ododo’s Approach to Kogi’s Development

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In certain quarters, Governor Ahmed Usman Ododo was characterized as “stingy” when he took office.

That term was created by individuals who anticipated that government funds would keep pouring into the coffers of godfathers and political influencers.

Months into his term, however, that very “stinginess” is becoming a golden attribute, driving a revolution in public utility, healthcare, education, and rural connectivity.

If being frugal with political rent-seekers means being generous with the populace, Kogi might be entering a new phase of significant growth.

To improve the state’s electrical supply, particularly in rural areas, the Kogi State Government recently accepted the delivery of many transformers. Large swaths of our rural communities lived in economic and literal darkness for decades. Now, that tide is shifting.

Not only does electricity provide light, but it also stimulates rural development. Now that the power supply has improved, small-scale food processors can enhance the value of agricultural products including rice, groundnuts, yams, and cassava. In addition to increasing household income, this will lower post-harvest losses. For craftspeople who rely on electricity to operate their enterprises, like mechanics, welders, hairdressers, and tailors, this is a liberating experience.

They can work from their local communities, which deters the rural-urban movement that has long deprived our villages of their young people and productive potential.

Access to clean water will also be improved because a lot of water pumping systems and boreholes rely on electricity. Women and children who must walk great distances to gather water are thus less burdened, and more significantly, this aids in the prevention of waterborne illnesses like cholera and typhoid.

We term surgical prudence what some refer to as stinginess. The government is diverting money away from unnecessary spending and toward areas that actually need it.

The healthcare industry is experiencing the same revolutionary story. Currently under renovation are more than 200 Primary Health Centers spread across the state’s 21 Local Government Areas. But it’s more than a patch job or a coat of paint. By bringing life-saving treatments closer to rural populations, these health centers are being outfitted to manage secondary healthcare tasks. In Kogi State’s history, this is without a doubt the most bold investment made in the rural healthcare system.

In villages like Otafun, Ayede, and several others that had never experienced governmental investment, shining new health centers are now emerging.

Residents may now receive basic medical care without having to travel for hours. These days, people may access prenatal care, vaccinations, minor procedures, and chronic disease therapy.

Across her most rural areas, Kogi is discreetly creating a healthcare safety net at a time when many governments are fighting to maintain urban facilities.

This “stinginess” on the part of the governor is also helping education. For example, Government Day Secondary School in Takete-Ide. It was established in 1980, and for many years, its community-built classrooms served as a symbol of grassroots sacrifice.

However, two months ago, a shift occurred. The school received brand-new classrooms with electric fixtures, secure doors and windows, tiled floors, strong roofs, and attractive walls.

For the first time in more than 40 years, the government was actually felt by the teachers and students. Furthermore, this is not a unique instance. Schools throughout the state are undergoing similar changes, transforming them from temporary sheds into actual educational hubs.

It’s not only about buildings, though. In support of its assertion that education is a public right, the State Government, led by Governor Ododo, has taken action. The state has eliminated tuition for primary and secondary school. Additionally, internal and external exams like WAEC, NECO, and others are funded by the government. In order to help tertiary students keep focused on their studies rather than their tuition costs, bursaries are now being awarded.

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From the first day of elementary school to the last day of a university lecture hall, the impoverished children see the support of the government. The goal of government should be to alleviate burdens rather than add to them. Only because the governor is unwilling to play the game of “settling” the politically entitled at the expense of the voiceless masses is it conceivable.

The changes extend beyond healthcare, education, and electricity. Additionally, the state is paying extraordinary attention to its urban and rural infrastructure. From road projects that connect farming areas to markets to the ongoing erosion control efforts in portions of Kogi East, Kogi West, and Kogi Central, the governor’s approach is sustainable and smart.

To serve the greatest number of people, every kobo is being stretched. Instead of connections, contractors are chosen based on their competence. Projects are not made for publicity, but for practical use.

Under Governor Ododo, there has also been a notable improvement in security, another essential element of growth.

His administration has supported the training and deployment of community-based security personnel and made significant investments in the acquisition of supplies for security organizations. These local officers have played a crucial role in stopping criminal activities before they get out of hand since they are the first line of defense in their communities. Previously violent and bandit locations are now seeing a relative peace. This better security environment is the consequence of intentional, targeted investment in preserving lives and livelihoods.

Additionally, the Governor has supported the Kogi Enterprise Development Agency (KEDA) as a means of generating income. By providing sufficient funds to the agency, the government is empowering small and medium-sized enterprises, particularly those led by young people and women. Throughout the state, prospective business owners are receiving soft loans, training, and technical assistance. This “stinginess” is what gives the people access to finance and boosts trust in the core of the economy. Governor Ododo has made the generation of wealth at the grassroots level a movement rather than merely a policy.

Additionally, his administration has implemented measures to modernize land administration using the Kogi Geographic Information System (KOGIS), which would increase the transparency, accessibility, and investor-friendliness of land documents. Another outcome of wise leadership is that this will release real estate value and give the state steady money.

The approach taken by Governor Ododo is straightforward but uncommon: if something doesn’t help the people, it doesn’t deserve their money. The stinginess that ought to be imitated is this one.

The critics who earlier griped that he wasn’t “spending” enough on pointless items are now facing a government that is sensibly spending in addition to spending.

At a time when some politicians still think that satisfying a select few is the goal of governing, Governor Ahmed Usman Ododo is demonstrating that true leadership is about standing with the majority, even if it means disappointing the egotistical few.

He has reinterpreted stinginess as a virtue of the public when it is used to defend the commonwealth against the avaricious interests of self-serving political manipulators.

Therefore, does Kogi benefit from Ododo’s stinginess? Parents’ relief smiles when they realize they no longer have to pay school fees, the newly lit villages, the renovated health centers, the changed schools, and the empowered hands of farmers and craftsmen who are finally reaping the benefits of democracy hold the key to the solution.

May the governors of Kogi remain stingy to the self-centered yet giving to the general welfare.

North Central Youths Rally Support, Lobby Akpabio for Sani Musa’s APC Chairmanship Bid

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In Nigeria’s North Central region, a coalition of youth organizations representing more than 1,000 APC support groups has declared its intention to send a delegation of 100 people to Senate President Godswill Akpabio to urge him to support Senator Mohammed Sani Musa for the role of APC National Chairman.

In order to address the political future of the North Central geopolitical zone and the necessity of strategic positioning ahead of the general elections in 2027, the young leaders convened an emergency conference Thursday in Lafia, the capital of Nasarawa state.

In a statement released following the meeting and signed by Comrade Dan Okwa, the North Central APC Youth Vanguard convener, the groups reaffirmed their support for President Bola Ahmed Tinubu’s reelection campaign and stated that accomplishing that goal would necessitate a strong, practical, and politically astute party leadership.

We think that at the table of power, the North Central must be seen as well as voiced. We must restructure our internal political structure and appoint one of our most capable and seasoned leaders to head the APC as we get ready for 2027,” the group stated.

Senator Sani Musa, who chairs the Senate Committee on Finance and represents Niger East in the National Assembly, has shown over the years the kind of dedication, vision, and grassroots knowledge required to stabilize and reposition the ruling party for electoral success, the coalition claims.

“He has demonstrated a steadfast dedication to President Bola Tinubu’s Renewed Hope Agenda and is a man who understands the inner workings of the APC and appreciates its vision,” Okwa continued.

In order to make our case and get his support for this crucial task, we are sending a group of 100 people to see Senate President Godswill Akpabio within the next week.

Although the youth coalition recognized that other notable candidates from the North Central, such as Senator Tanko Al-Makura, a former governor of Nasarawa, had expressed interest in leading the party, it claimed that Sani Musa is a generational bridge who blends experience with a forward-thinking outlook.

“We hold all candidates in high regard, particularly Senator Al-Makura, who is a well-respected elder and party builder. However, it is our firm belief that the APC needs a younger, vibrant, and unifying figure to inspire the party base, especially the youth, at this pivotal moment in our country’s history. Senator Sani Musa is that individual,” the statement said.

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Additionally, the groups took advantage of the occasion to urge APC stakeholders and elders, particularly those from the North Central region, to pressure Senator Sani Musa to formally express interest in the position of national chairman and spearhead the initiative to increase the region’s clout in national politics.

The team to Akpabio will deliver a comprehensive petition that includes the youth summit resolutions and a summary of the North Central zone’s strategic contribution to the APC’s survival since its founding, according to Okwa.

The APC has always had the support of the North Central, from organizing large numbers of voters to standing up for the party in trying times. We think that now is the right moment for the party to honor capability and loyalty,” he stated.

Ahead of the APC National Convention, the youth coalition also promised to step up mobilization in the FCT and the North Central states. They reiterated that their campaign is not only about regional inclusion but also about restoring party discipline, restoring trust, and setting the APC up for future successes.

“We will interact with important leaders not only in the North Central but also in other zones. We think Senator Sani Musa is the best person to guide us into the future of the APC, which is what this is all about,” Okwa said.

Later this week in Abuja, the team is anticipated to meet with Senate President Akpabio.

Summer Transfers: Updates on McAtee, Konate, Saliba, Vinicius, Gyokeres, Mbeumo & Others

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Manchester City are reportedly willing to allow James McAtee depart during the summer transfer season provided the price is right.
According to The Telegraph, the Premier League winners have set a £35 million transfer fee for the 22-year-old English midfielder.
West Ham United and Bundesliga side Eintracht Frankfurt are among the clubs considering a move, although they will have to reach City’s asking price to do so.

Meanwhile, Real Madrid appears to be playing a long game in several aspects.

According to Football Insider, Los Blancos are willing to wait until next summer to get Ibrahima Konate from Liverpool on a free transfer. However, a lowball bid during this window is still possible.

Read Also: Championing Progress: Why Rep. Philip Agbese Deserves Our Mandate Again in 2027

Madrid is also keeping an eye on William Saliba, who plays for Arsenal. The 24-year-old French defender has impressed under Mikel Arteta, and L’Équipe reports that the Spanish giants are keeping a close eye on him, ready to strike if the opportunity arises.

According to AS, the enticing nine-figure Saudi offer for Vinicius Jr. has been withdrawn for the time being.

The 25-year-old Real Madrid star remains a top target for Saudi teams, but talks might resume in 2026, when the Brazilian attacker may be more willing to leave Europe.

Leeds United, the Championship club, is aiming to acquire transfer funds by starting a bidding war for 21-year-old Spanish forward Mateo Joseph.

According to The Sun, the club hopes to move Joseph to fund a summer transfer for Fulham’s Brazilian forward Rodrigo Muniz, 24.

Manchester United boss Ruben Amorim is pressing for more additions before the transfer window ends. According to The Mirror, Amorim plans at least two further extensions. One of them might be Sporting CP attacker Viktor Gyokeres.

According to A Bola, United has submitted a bid to recruit the 27-year-old Swedish forward, with Arsenal also interested.

According to Fabrizio Romano, Bryan Mbeumo has completed his physical before joining Manchester United from Brentford.

The 25-year-old Cameroonian forward is almost ready to be introduced as United’s latest signing.

Tottenham Hotspur are willing to match Bournemouth’s value of Ukrainian defender Illia Zabarnyi, 22, according to Caught Offside.

Tottenham are looking to strengthen their backline and see Zabarnyi as a long-term investment.

Meanwhile, Nottingham Forest are leading the pursuit to recruit Aston Villa’s Jacob Ramsey, 24, according to Football Insider, as the midfielder seeks more playing time.

Meanwhile, The Northern Echo says that Sunderland have pulled out of a £17.5 million agreement for Sassuolo’s Armand Lauriente, opting to explore elsewhere following lengthy negotiations.

Championing Progress: Why Rep. Philip Agbese Deserves Our Mandate Again in 2027

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The journey to a brighter, more prosperous Enone Federal Constituency is well underway, thanks to the impactful leadership of Rep. Philip Agbese. As the 2027 general elections approach, it’s time to reflect on the tangible progress made and the urgent need to sustain this momentum by re-electing a leader who has consistently delivered on his promises.

Rep. Agbese’s first term in the National Assembly has been defined by purposeful action, visionary development, and people-focused representation. From improved infrastructure to social intervention programs and strong policy advocacy, his contributions have touched lives across Ado, Okpokwu, and Ogbadibo, setting a new standard for effective governance in our constituency.

It is against this backdrop that the Door to Door 4 Okanga 2027 movement has taken root — a grassroots campaign committed to spreading the message of progress, achievement, and continuity. Our mission is simple: to engage every household, every voter, and every community with the compelling story of how Rep. Agbese is building the Enone of tomorrow, today.

Re-electing him isn’t just about politics; it’s about protecting the gains we’ve made and expanding opportunities for even greater impact. His deep understanding of our needs, combined with his courage to act, makes him the best choice to continue driving development, strengthening our economy, and championing the aspirations of our people.

We call on all sons and daughters of Enone to rally behind this vision. This is our chance to reaffirm our belief in competent, accountable leadership. Let’s unite behind Rep. Philip Agbese and give him the mandate to finish the work he has so passionately begun.

Together, we can keep moving forward. Together, we choose progress.

Signed,
Comr. Patrick Eza
National Coordinator
Door to Door 4 Okanga 2027

Veteran Actor Adebayo Salami: Some Actresses Offer Sex for Roles, “It Happens”

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Actresses offering sex for jobs is a common practice in the film industry, according to veteran actor Adebayo Salami, better known by her stage name Oga Bello.
However, because of his rigorous discipline, the film producer claimed he has never been a victim of it.
According to the 71-year-old movie icon, he establishes clear boundaries and has never let any actress approach him with such proposals.

He clarified that an attempt to do so with him is difficult due to his work ethic and morals.

“You won’t have the opportunity to approach me.” That’s unlike anyone I’ve ever met. However, he acknowledged, “I know it happens in this generation.”

Having begun acting in 1964 at the age of 12, Salami noted that he is conscious of the increasing lack of discipline among today’s actors and directors.

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During his early years in the company, he claimed that some behaviors that are now commonplace, such tardiness and weak excuses, were never accepted.

He stated: “This discipline is really different from the discipline of our day. This is a profession where certain explanations are untenable.

You should leave my set even if you are playing the lead.

I’m a disciplined producer and director, so I won’t even give you the opportunity to come see me or discuss it with me.

Foreign Portfolio Pressures, Global Trade Woes Stifle Nigeria’s NFEM – Experts

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The growth of the Nigerian Foreign Exchange Market’s (NFEM) overall liquidity is allegedly constrained by a significant drop in inflows from local sources and the persistent global trade uncertainties, which analysts say pose a downside risk to foreign exchange inflows from Foreign Portfolio Investors (FPIs).

They warned that inflows from local sources fell to a four-month low, falling by 61.4% m/m to USD2.11 billion (May: USD5.48 billion), after individual inflows fell by 91.6% m/m, CBN by 77.2% m/m, exporters/importers by 74.4% m/m, and non-bank corporates by -17.6% m/m. portions

The persistent uncertainties surrounding global trade, they argued, continue to pose a danger to strong inflows from foreign counterparts, which could limit the expansion of total forex liquidity.

The Nigerian Foreign Exchange Market’s (NFEM) overall inflows decreased by 28.1% month over month to USD4.84 billion in June (May: USD6.74 billion), according to data from FMDQ.

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Local inflows, which accounted for 43.7% of total inflows, significantly decreased, which was the main cause of the outturn.

Following reductions in inflows throughout the individual (-91.6% m/m), CBN (-77.2% m/m), exporters/importers (-74.4% m/m), and non-bank corporates (-17.6% m/m) sectors, inflows from local sources fell to a four-month low, falling by 61.4% m/m to USD2.11 billion (May: USD5.48 billion).

In contrast, foreign inflows (56.3% of total inflows) climbed by 116.8% month over month to USD2.73 billion (May: USD1.26 billion), the highest level in 29 months, helped by a rise in market confidence and an easing of international pressures.

Consequently, the FPI (+133.6% m/m) category saw a greater rate of accretion, whilst inflows from FDIs (-31.6% m/m) and other corporates (-39.8% m/m) decreased.

Following declines in inflows across the individual (-91.6% m/m), CBN (-77.2% m/m), exporters/importers (-74.4% m/m), and non-bank corporates (-17.6% m/m) segments, Cordros Securities Researchers reported in their Weekly Economic and Market Report that inflows from local sources had fallen to a four-month low, plunging 61.4% m/m to USD2.11 billion (May: USD5.48 billion).

NAFDAC Receives N20.5bn Worth of Fake Medicines From Customs in Rivers

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The National Agency for Food and Drug Administration and Control (NAFDAC) at Onne Port, Rivers State, has taken custody of eleven containers containing illegal and unregistered pharmaceutical products from the Nigerian Customs Service (NCS).

In collaboration with the Department of State Services (DSS) and the National Drug Law Enforcement Agency (NDLEA), officials from the Customs Area II Command seized the containers, which were valued at N20,545,999,200 in duty.

Hazardous pharmaceuticals that were allegedly unlawfully smuggled into Nigeria were found in the seized containers.

The operation is part of a renewed inter-agency effort to stop the flow of illegal and counterfeit narcotics into the nation, according to Comptroller-General of Customs Bashir Adeniyi, who made the announcement during the ceremonial handover on Friday.

According to him, Customs and NAFDAC have formed a combined task force to carry out the Memorandum of Understanding (MoU) that was signed by both organizations in 2024.

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In Abuja, we started putting the Memorandum of Understanding between NCS and NAFDAC into effect just two weeks ago. We are now working together to reduce the unlawful importation of unregistered medical products, and our group is the driving force behind that effort,” she stated.

Declaring that this is the second significant drug seizure in as many days, he reaffirmed the agency’s commitment to President Bola Ahmed Tinubu’s policies of strengthening national security, protecting public health, and tightening border security.

NAFDAC’s Director-General, Professor Mojisola Adeyeye, hailed the action as a noteworthy example of inter-agency cooperation aimed at safeguarding Nigerians from dangerous pharmaceuticals after receiving the containers.