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Atiku, Saraki, and Tambuwal are engaged in a proxy battle over the PDP ticket

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It was learned yesterday that the proxy war among candidates for the Peoples Democratic Party’s (PDP) presidential ticket in 2023 is heating up.

Former Vice President Atiku Abubakar, former Senate Presidents Pius Anyim and Bukola Saraki, and governors Aminu Tambuwal (Sokoto) and Bala Mohammed are among those who have expressed interest in the opposition party’s slot (Bauchi).

Former Kano State Governor Rabiu Kwankwaso, industrialist Mazi Sam Ohuabunwa, and publisher of Ovation magazine Dele Momodu are among the others.
In a letter to the PDP Governors Forum last week, Atiku’s former aide and political associate Segun Sowunmi launched the first salvo, urging the party to reject “kindergarten president and commander-in-chief.”

Sowunmi’s letter was interpreted as a veiled reference to younger candidates in the race against Atiku, who is 75 years old and described as “highly experienced.”

“Everyone wants to be President after Buhari, but not everyone can do the work that a post-Buhari President will be called upon to do,” the letter reads in part. If you don’t have the required experience, presidential powers and privileges are meaningless. We can’t go from the frying pan to the fire.”

Dr. Rufus Omeire, a spokesman for a PDP faction, defended the young elements vying for the party’s nomination.

He questioned Atiku’s political relevance in comparison to other candidates.

Omeire, writing under the eagis of the PDP Action 2023, questioned Sowunmi’s assessment of Atiku as a “experienced” politician, claiming that the perpetual vice president had only minor roles in previous public offices.

“Let us x-ray the candidates in terms of relevant experience for the top job,” Omeire said. Atiku Abubakar’s public sector experience includes a subordinate position as Deputy Director of Customs. He never rose to the position of Chief Executive Officer of the Customs and Excise Department. The buck never once came to a halt on his Customs Service table.

“He rose to the position of Vice President of the Federal Republic of Nigeria, a high-ranking position, but he never served as the country’s chief executive. He only did what his boss, President Olusegun Obasanjo, told him to do.

“He’d never held the position of CEO before. At his table, the buck never came to a halt. His recommendations could be accepted or rejected by the President.

“He lacked relevant hands-on experience in the top job.” So, where does Alhaji Atiku Abubakar’s renowned experience lie? He clearly lacks the necessary public-sector experience.

Read also: Tinubu is backed by the Niger government for the presidency in 2023

“Other candidates appear to have more public-sector experience; some have extensive private-sector experience as CEOs.”

“As chief executives, Tambuwal, Saraki, and Anyim led Houses of the Federal Legislature. As Speaker and President of the Senate, the buck stopped on their tables.

“As governors, Tambuwal, Bala Mohammed, Wike, and Saraki have relevant executive experience. From the executive’s perspective, they’ve seen it all.

“They have direct and first-hand experience in the formulation and execution of government policies because they made decisions at the executive level in their states.”

Omeire threw more jabs, recalling Atiku’s past defections from the PDP to other parties and how he was “abandoned ship mid-sea” after losing the 2019 election.

“Rather than flaunting his old age and…relevant experience, Sowunmi should find other grounds to market Atiku, his boss.”

“He should also stop hurling unwarranted insults at other candidates who Alhaji Atiku may have to support after the primaries.”

Tinubu is backed by the Niger government for the presidency in 2023

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The presidential ambition of the National Leader of the All Progressives Congress (APC) yesterday received a boost with the endorsement of his aspiration by Niger State Governor Abubakar Sani Bello

The governor of Niger State described Tinubu as a candidate to be reckoned with when he received him at the Niger State government house.

He expressed his eagerness to see him lay the kind of foundation he did in Lagos State for the country’s massive transformation.

“We saw the foundation you laid in Lagos, and we eagerly await your replication in Nigeria,” he said.

Tinubu donated N50 million to the state’s victims of bandit attacks. He stated that if efforts were increased, the country’s current insecurity would be addressed.

“I’m here for the people of Niger State; we share your grief.” Every day, I hear and read about disasters, banditry, and cattle rustling, just like what happened again on Wednesday,” he said.

Read also: FMDQ delays the publication of the official exchange rate, depriving Nigerians of critical information.

Asiwaju Asiwaju Asiwaju Asiwaju Asiwaju Asiwaju Asiwaju Asi

Tinubu also met behind closed doors with former military president General Ibrahim Badamasi Babangida (rtd).

However, in an interview with journalists, he stated that his visit to the former president was for the purpose of seeking blessing.

“In general, I came to Niger State to express my condolences to the governor and the people of the state. So I can’t leave without paying a courtesy call to General Ibrahim Badamasi Babangida, the enigma.

“As a result, he offered me his prayers. Do you want to know how the consultation went? We are in charge of a democracy. I made my decision voluntarily, and I am running for President of the Republic; we are operating in a democracy.”

“I told you when I made the declaration that I’m still consulting and that I’ll consult as widely as possible,” he added.

FMDQ delays the publication of the official exchange rate, depriving Nigerians of critical information.

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The FMDQ, Nigeria’s main source for tracking the official exchange rate, has stopped publishing the official (I&E Window) exchange rates on its website at the end of business, depriving the public of critical transaction information.

This is based on observations from a variety of FMDQ users who use the data on a daily basis. Analysts at Nairametrics, who have been following the situation for the past ten days since it began, confirmed this. Since the window’s inception in 2017, the data has been published every day on the front page of the FMDQOTC’s website.

However, the FMDQ website now reports the official rate with a two-day delay, a decision that is expected to stymie Nigerian investors’ ability to make quick investment decisions while also depriving users of vital data.

Nigerians were denied access to critical information.
Tens of thousands of businesses in the country rely on the Investors & Exporters Window (I&E) official exchange rate when making business decisions such as imports and exports, FX balance conversions, payment for goods and services, and so on.

Foreign investors rely on it to determine the conversion rate for investments into the country. Academics, researchers, and the media use it to document and analyze the exchange rate and its impact on Africa’s most populous economy.

Not only did the FMDQ postpone the exchange rate’s closing price, but it also postponed the publication of opening and closing rates, daily highs and lows, and daily turnover. Other daily indices such as the money market rate, S&P Sovereign bond index, NIBOR, NAFEX, and NITTY rates were also affected.

Read also: NYSC is working to improve the digitalization of Work Environment

This change was first noticed on Monday, January 11th, 2022, when the rate as of the previous week’s close of trading was not updated. It was initially thought to be a website glitch, but nearly two weeks later, it appears the group is beginning to deprive the public of real-time data.

What is the reason for this?
Users of the data speculate that this is part of the Central Bank’s playbook, as the board of FMDQOTC is chaired by the Deputy Governor. The Central Bank has been widely chastised on social media for removing or delaying the release of important economic reports, particularly when the numbers are not encouraging.

According to a reliable source at the FMDQ, the decision was based on financial and business considerations, and the delay was intentional. According to the source, FMDQ recently revamped its product offering and decided to monetize close of day indicators data, which explains the two-day delay.

According to the source, anyone who wants to know the closing exchange rate and market turnover should either pay for it during close or business hours, or wait two days to get it for free.

FMDQ’s decision to delay vital data on its website home page is a significant departure from its rival Nigerian Exchange, which publishes vital stock market data while also offering a premium service for users who want more information and insights into trades, valuations, and other topics.

Last year, the Central Bank banned AbokiFX, an online blog that displays parallel market rates, citing allegations of rate fixing and manipulation.

How does this affect you?

  • Nairametrics and other media outlets report the daily movement in the official market, which serves the purpose of feeding the investing public and FX interested Nigerians the latest changes in the official exchange rate.
  • In addition, in May 2021, the Central Bank adopted the rate at the I&E window as its official exchange rate dropping decades-long use of a fixed exchange rate. 
  • The information, which is meant to educate and inform prompt decisions is now being intentionally withheld by the trading house, which should ideally feed the public with timely and accurate data. 
  • Suffice to add that the Central Bank clampdown on abokiFX last September suggests it prefers that Nigerians cite the FMDQ as the source for determining exchange rate and not the black market. This decision by the FMDQ to delay rates may not help this situation.
  • Nigerians already rely on P2P websites to determine black market rates.

NYSC is working to improve the digitalization of Work Environment

The National Youth Service Corps (NYSC) has reaffirmed its commitment to providing an enabling work environment and ICT infrastructure deployment for maximum productivity.

It also said the scheme would not tolerate unethical practices that could compromise its operations or tarnish its image.

Major General Shuaibu Ibrahim, the Director-General of NYSC, stated this today in Abuja during a Training Workshop for Heads of Corps Discipline and Reward, with the theme: “Enhancing the roles of Corps Discipline and Reward on the NYSC Integrated Platform.”

NYSC improve digitalization of Work Environment

The workshop, according to General Ibrahim, was designed to teach participants about current trends in information technology and to better prepare them for their responsibilities as it relates to the NYSC Integrated Platform’s operations.

“Without doubt, the introduction of ICT in the NYSC has resulted in better work efficiency, improved processes and productivity, as well as effective service delivery.

In sustaining these gains therefore, the NYSC Management is determined to continuously equip our officers with relevant skills and providing the enabling environment to ensure full participation in the digitalization process,”  the DG explained.

He also stated that Management was working on making it simple for absconded Corps Members to make online refunds of allowances previously collected without having to travel back to their original deployment states.

Among the advantages of the new NYSC remobilisation module, he mentioned proper tracking of all absconded cases, prompt availability of accurate details of refunds of allowances previously collected by remobilized Corps Members, and seamless and harmonious processing of all activities relating to absconded/remobilized cases at the State Secretariats.

The Director-General stated that Management would continue to ensure that Corps Members have a stress-free service year, and he encouraged workshop attendees to take advantage of new technological trends, particularly in the areas of data integrity and security.

Make the most of its accomplishments

Mrs Christy Uba, Director of Information, Communication and Technology, stated that the Scheme would continue to build on its successes in ICT solutions and achieve even more.

Read also: Reps order an investigation into the alleged theft of 178,459 police firearms

She stated that the introduction of the NYSC Integrated System into NYSC operations over seven years ago has greatly unified, simplified, and ensured effective digitization of critical NYSC Departments, State Secretariats, Zonal Offices, and Local Government Areas operations as it affects Corps Members’ activities throughout the service year.

Mobilization, deployment, Corps monitoring, relocation, pre-camp clearance of foreign-trained graduates, printing of Certificates of National Service, and remobilization, all of which take place on the NIS platform, according to Uba, have boosted the NYSC’s efficiency and transparency.

Reps order an investigation into the alleged theft of 178,459 police firearms

The Nigerian House of Representatives has decided to investigate the Nigeria Police Force’s alleged failure to account for 178,459 firearms as of January 2020.

The move comes in response to the Office of the Auditor-General of the Federation issuing audit queries against the NPF.

According to one of the eight queries issued against the NPF by the office, by the end of 2019, the Force Headquarters could not account for 178,459 firearms, of which 88,078 were AK-47 rifles.

The questions appear in the ‘Auditor-General of the Federation’s Annual Report on Non-Compliance/Internal Control Weaknesses Issues in Ministries, Departments, and Agencies of the Federal Government of Nigeria for the Year Ended 31st December, 2019’.

The report was presented to the Clerk of the National Assembly, Ojo Amos, by the Acting Auditor-General of the Federation, Adolphus Aghughu, on September 15, 2021, while the Senate and House Committees on Public Accounts are looking into the issues.

Read also: Reps seek Trust Fund for NYSC

The House mandated an ad hoc committee to “establish the veracity of those allegations and conduct due diligence of the control processes of the Nigeria Police Force’s armoury; and report back to the House within four weeks” during plenary on Thursday.

The House also demanded that Usman Baba, the Inspector-General of Police, take immediate action to apprehend those responsible for the NPF’s armoury being depleted.

Toby Okechukwu, the Deputy Minority Leader, had introduced a motion of urgent public importance titled “Need to investigate the alleged missing firearms and ammunition of the Nigeria Police.”

The House was aware of the report’s findings that the police high command failed to keep track of unserviceable and expired firearms and ammunition due to non-compliance with the NPF’s internal control system, according to Okechukwu.

“The House is concerned that the value of the stolen firearms cannot be determined because no document relating to their acquisition cost was presented for inspection,” he said.

“The House is concerned that the missing arms may have ended up in the wrong hands due to the country’s deteriorating security, kidnapping, and banditry.”

“The House also recognizes that Nigeria has not fought a war in recent years.”

The Auditor-General stated in a query titled “Loss of Firearms and Ammunition” that “the total number of lost firearms as reported as of December 2018 stood at 178,459,” based on a review of the arms movement register, monthly returns of arms and ammunition, and the ammunition register at the Armoury Section.”

“Of this number, 88,078 were AK-47 rifles, and 3,907 assorted rifles and pistols across various police formations could not be accounted for as of January 2020,” it continued. Formal reports on the loss of firearms, such as Treasury Form 146 (Loss of Stores), were not presented for inspection.

“Records obtained from Force Armament at the Force headquarters revealed that 21 Police Mobile Force Squadrons in Abuja did not report a single case of missing firearms, whereas a schedule of missing arms obtained from the same PMF revealed a total of 46 missing arms between 2000 and February 2019, and the value of the lost firearms could not be determined because no document relating to their cost of acquisition was presented for examination.”

The “anomalies” were attributed to “weaknesses in the internal control system at the Nigeria Police Force Armament,” according to the office.

Reps seek Trust Fund for NYSC

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The House of Representatives is seeking the establishment of a special trust fund for the National Youth Service Scheme (NYSC), as a Bill to that effect was given a second reading on Thursday.

Leading debate on its general principles, its sponsor, Hon. Samuel Akinfolarin, recalled that in the early years of its establishment, the NYSC was able to carry out its objectives diligently under its establishment Act, instilling patriotism and the spirit of nationalism in Corps members.

He argued that the current Entrepreneurship Development Programme of the NYSC “is not total and comprehensive enough, to harness the endowed potential, skills, and chosen fields of Corps members,” adding that the Fund, if established, would provide sustainable sources of funds for the NYSC.

Pointing out more objectives of the bill, the lawmaker said the fund would enhance training and retraining of Corps members, develop NYSC camps, and build skills and entrepreneurial training centres across the country.

Read also: Those declaring presidential candidacy will back Tinubu, says group

Also, he said, there would be improved general welfare of the Corps members, as well as working in collaboration with government ministries, departments, and agencies (MDAs) to improve Corps members’ human capital development.

“I am very mindful of the skills development training of Corps members during their camps before they are deployed to their various places of assignment”, he stated, noting that if enacted, the Bill will reduce the impact of COVID-19 on the economy and provide jobs for more youths.

Those declaring presidential candidacy will back Tinubu, says group

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On Wednesday, Progressives Solidarity for Tinubu, a support group for former Lagos State Governor Bola Tinubu, said that other presidential aspirants would later back Tinubu.

Tinubu is the only candidate with “a penchant for impactful deliverables,” the group said at a press conference in Abuja.

Read Also:  2023: Amaechi will be dragged into the presidential race by coalition

Ibrahim Emokpaire, the group’s convener, who was represented by Ibrahim Idris, one of the executive members, went on to say that Nigerians abroad and in the diaspora yearned for Tinubu.

“Nigeria requires an unrepentant progressive, a visionary with a penchant for high-impact deliverables,” he said. Nigeria needs a builder, and Asiwaju’s credentials and accomplishments are undeniable.

Read Also:  Onuesoke: FG Delay in Naming Terrorism Sponsors Has Negative Security Consequences

“He possesses the political will and ability to transform our land into an Eldorado in a short period of time. Nigerians, both at home and abroad, are hoping for a Tinubu-led administration to bring relief to the people.”

Onuesoke: FG Delay in Naming Terrorism Sponsors Has Negative Security Consequences

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Senator Ali Ndume, Chairman of, Senate Committee on the Army, has called on the Federal Government to name and prosecute those financing terrorism in Nigeria. Chief Sunny Onuesoke, a PDP chieftain, and former Delta State governorship aspirant have said he supports Senator Ali Ndume’s call.

It will be recalled that Ndume asked the Federal Government to name and prosecute those financing terrorism in the country during an interview last week.

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In response to Ndume’s demand, Onuesoke said on the sidelines of a security workshop in Lagos that “it is high time the Federal Government names and prosecutes those financing terrorism in the country if we are to take the fight against terrorism seriously.”
If the financials are identified and prosecuted, he claims, it will go a long way toward reducing terrorist activities, saving lives, property, and improving Nigerians’ socio-economic status.

“Mr Malami told the Nigerian News Agency (NAN) in New York that the federal government had identified and detained “high profile individuals” who were funding terrorist activities in the country.

“In May, the AGF also announced that the Nigerian government was about to begin prosecuting about 400 suspected Boko Haram financiers, as well as profiling some high-profile Nigerians suspected of financing terrorism.” “However, nothing has been heard in over six months about the prosecution of the 400 suspected Boko Haram financials,” he bemoaned.

Onuesoke stated that the delay in revealing and prosecuting the suspects is not only endangering the nation’s security but is also responsible for the deaths of people and the hyperinflation of food prices in the country.

Read Also:  2023: Amaechi will be dragged into the presidential race by coalition

“Farmers are afraid to go to the farm for fear of being attacked by terrorists.” They are afraid of being attacked, killed, or kidnapped for ransom if they transport their food to the market. Massive human resource losses and their consequences, as well as the government’s lackluster response to various forms of crime, do not inspire confidence that the country will meet its short and long-term economic goals,” he said.

2023: Amaechi will be dragged into the presidential race by coalition

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Under the auspices of the Southern Mandate Group, a coalition of socio-political groups has decided to drag the Minister of Transportation, Chibuike Amaechi, into the presidential race.

It stated that the minister’s leadership experience in various administrative positions qualifies him for the nation’s top political position.

Read Also:  Ekiti Governor: God has anointed me, and I won’t resign for N200 billion – Popoola

Following an emergency meeting in Uyo, Akwa Ibom State, on Wednesday, the groups representing 11 states in the South-South and South-East declared that the minister possesses all of the qualifications to succeed President Muhammadu Buhari (retd.) in 2023.

“Having studied his performance in various positions as a two-term Speaker of the Rivers State House of Assembly; governor for two terms; Chairman, Nigerian Governors Forum; Minister for over six years, we in the coalition of Southern CSOs have declared and affirmed support for Mr Amaechi,” SMG President-General Chibuikem Asuzu told reporters shortly after the endorsement.

“We have resolved that the Southern block should support someone who has the capacity to lead the country with inner love for its development and capable of fostering national cohesion,” Asuzu added.

It was past time, he said, for voters to “rise above petty ethnicity, nepotism, and other discriminatory factors to sustain the tempo of development as engineered by President Buhari since 2015.”

Read Also:  Ekiti 2022: Fayemi’s former campaign director joins Bamidele, praises APC contributions

We firmly support Amaechi, and we hope that the presidency is zoned to Southern Nigeria for the sake of equity, fairness, and justice.

“In terms of Nigeria’s unity, Amaechi has demonstrated his commitment to the country’s oneness and unity through his advocacy for Nigeria’s indivisibility.”

In the first nine months of 2021, the UK and S/Africa jointly account for 65% of Nigeria’s capital inflow

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Between January and September 2021, the United Kingdom and South Africa topped the list of source countries for Nigeria’s capital inflows, accounting for 64.9 percent of the total capital importation recorded by Nigeria during the period under review.

According to the National Bureau of Statistics’ capital importation report, this is the case (NBS).

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Nigeria received $4.51 billion in capital inflows during the first nine months of 2021, a 48 percent decrease from the $4.61 billion received during the same period in 2020. Capital imports have decreased by 78 percent compared to the pre-pandemic era, with $20.19 billion recorded in the same period of 2019.
Meanwhile, the United Kingdom and South Africa brought the majority of the funds into the country, accounting for 64.9 percent of the total. During the review period, Nigeria received $2.16 billion from the United Kingdom, accounting for 47.9% of total inflows.

Similarly, South Africa, a fellow African country with the continent’s second-largest economy and home to a number of large corporations with operations in Nigeria, invested $768.4 million in the country during the same period.

However, their investments in the African giant’s economy have decreased in recent years, partly due to the economic downturn brought on by the covid-19 pandemic, which has created uncertainty around investments and caused Nigeria to attract fewer foreign investors.

Other country sources include the United States ($357 million), Singapore ($241 million), the United Arab Emirates ($227 million), and the Netherlands ($182 million).

According to a more detailed analysis of the capital importation report, foreign direct investments fell from $414.79 million in January to September 2020 to $340.55 million in the following year.

Read Also:  Ekiti Governor: God has anointed me, and I won’t resign for N200 billion – Popoola

In addition, foreign portfolio investment (FPI) fell by 46% year on year during the review period, from $5.1 billion in 9M 2020 to $2.74 billion. Other investments fell to $1.43 billion in 2017 from $2.73 billion the year before. Loans totaled $1.3 billion during the period, accounting for 29% of total capital inflows.

Only 9 states have received funding, with Lagos receiving the lion’s share.
Only about 9 states received foreign inflows during the period under review, with Lagos State receiving the lion’s share, accounting for 85 percent of the total inflow with $3.84 billion. Abuja received $662.85 million, or about 15% of the total inflows during the period.

Notably, Lagos State and Abuja accounted for nearly all of the investment destinations recorded in the 9-month period, accounting for 99.8% of the total inflow.

According to the number of states that received foreign investments during the period, 28 states did not receive any. This depicts the attractiveness of some of the country’s states to foreign investment.

It now appears that the majority of funds entering the country are directed to Nigeria’s economic hub and capital, thereby depriving other states of foreign investment, further impeding their development.

What you need to know
A Foreign Direct Investment (FDI) is the purchase of a stake in a company by a company or investor from outside the country. FDIs are preferred by most economies because they have a greater direct impact on the economy than other types of foreign inflows.

Read Also: Ekiti 2022: Fayemi’s former campaign director joins Bamidele, praises APC contributions

Meanwhile, Nigeria is expected to see an increase in FDIs as a result of the global giant Equinix’s acquisition of Nigeria’s telecommunications company, MainOne. The deal is reportedly valued at $320 million.

Foreign Portfolio Investment (FPI), on the other hand, refers to the purchase of securities and other financial assets by investors from outside the country. Stocks, bonds, mutual funds, and exchange-traded funds are all examples of foreign portfolio investments.