Author: Chike Ozohili

  • Tinubu proclaims inauguration of 10th Assembly

    Tinubu proclaims inauguration of 10th Assembly

    Following the Proclamation by the President, Commander-In- Chief of the Armed Forces of the Federal Republic of Nigeria, Bola Ahmed Tinubu, it has been indicated through a release by the clerk of the National Assembly, Sani Magaji Tambawal, that all Senators and Members-Elect be available for the inauguration of the 10th National Assembly scheduled to hold on Tuesday 13 June, 2023 at the National Assembly Complex, Abuja.

    It was also stated that, all in-coming federal legislators shall be required to come along with the Code of Conduct Clearance, Certificates of Return and valid I.D cards for registration, scheduled to start by 10.am on Monday, 12th June, 2023 at the House of Representatives Conference Room 301 and Senate Conference Room 231.

    The 9th Assembly that was inaugurated on the 11th of June, 2019, was formally brought to a close on Saturday, June 9th, 2023 after an emotional valedictory session.

  • Nigeria loses $362.5m yearly due to toxic pesticides in beans

    Nigeria loses $362.5m yearly due to toxic pesticides in beans

    Stakeholders in the agricultural sector have disclosed that Nigeria loses about $362.5m annually due to its inability to export beans in the last eight years.

    The stakeholders, who disclosed this at the launch of the Strategic Partnerships for Agroecology and Climate Justice in West Africa (SPAC-West Africa), recently in Abuja, said the launch would enhance agroecological skills of 120,000 Smallholder Women Farmers (SHWF) and Young People in Nigeria.

    According to them, it would improve beans farmers’ knowledge of the right application of pesticides on their beans.  

    The launch of the SPAC-West Africa is a joint collaboration between ActionAid Nigeria (AAN), the Federal Ministry of Agriculture and Rural Development (FMARD) and other stakeholders in the fight against use of dangerous pesticides.

    Various agricultural products have been rejected in the EU due to high residue of harmful pesticides.

    In a communique after the SPAC-West Africa launch, the stakeholders urged the Ministry of Agriculture and Rural Development to develop pesticide policies and legislation that would ensure most toxic pesticides are prohibited, and phased out in Nigeria, and a significant shift was made towards sustainable farm systems like agroecology.

    “To achieve this, the government needs to develop a safe sustainable food strategy that reduces the use of highly toxic synthetic chemical pesticides by 50% by 2030; 25% by 2040, a maximum of 5% by 2050 and strong support to be given to farmers in their transition towards agroecology.

    “The private sector through Public Private Partnerships (PPPs) that benefit smallholder farmers especially women and young people should promote agroecology and play a robust role in facilitating market access for agroecologically produced agriculture produce in Nigeria.

    “On access to Extension Services, smallholder women farmers have access to only 5.26% farm demonstrations and 19.47% of farmers’ field schools and these areas need massive investments to scale up agroecology,” it said.

    It is expected that SPAC-West Africa project will be implemented in Liberia, Nigeria, and Senegal, with regional engagement of stakeholders in partnership with the ECOWAS Commission.

    “In Nigeria, the project will improve food and nutrition security and enhance agroecological skills of 120,000 Smallholder Women Farmers (SHWF) and Young People by facilitating access to early maturing seeds, seedlings, livestock, and poultry, thus supporting agroecological practices, indigenous seeds, and agrobiodiversity preservation for increased farm yields.

    “Through agroecology budget monitoring, tracking and advocacy towards the expansion of the fiscal spaces, stakeholders will significantly benefit from budget increases and allocations in agriculture. 26 model agroecological farms will also be set up and scaled by SHWF to increase adoption of agroecological practices. This project will be implemented in Ondo, Delta, Ebonyi, Jigawa, the FCT and at the National Level.”

  • Emefiele’s exit will not negatively impact market— Experts

    Emefiele’s exit will not negatively impact market— Experts

    Former president of the Chartered Institute of Bankers of Nigeria (CIBN), Okechukwu Unegbu, and other financial experts have opined that the unexpected exit of the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele will not have any negative impact on both the capital and foreign exchange markets.

    President Bola Ahmed Tinubu had on Friday suspended the Central Bank Governor, Mr. Godwin Emefiele from office.

    He was directed to immediately hand over to the Deputy Governor (Operations Directorate), Mr. Folashodun Adebisi Shonubi, who will act as the Central Bank Governor pending the conclusion of the investigation and the reforms.

    Reacting to the suspension, Unegbu said Emefiele’s removal will impact positively on the capital and the foreign exchange market because the multiple exchange rates maintained by Emefiele hurt the economy.

    Corroborating Unegbu stance, Managing Director of Crane Securities Limited, Mr. Mike Eze, said the market will remain stable until the investigation is concluded and it provides sufficient information to inform market reactions.

    “The CBN is the highest financial institution in the country and the governor works with about three deputies who help him in fashioning out policies and most of these policies were hijacked by politicians. So, most of his policies were politically motivated.

    He, however, noted that politicians are the ones that destabilise the economy, not Emefiele.

    “The capital market does not react on hearsay, the market will have enough information before reacting, so, I believe the market will be stable until the outcome of the investigation,” he said.

    The Executive Vice Chairman of Hicap Securities Limited, Mr. David Adonri, said even though the secondary market benefited from Emefiele’s policies, the primary market did not.

    “We hope that his exit will bring a much-needed positive impact on the primary market and further boost the secondary market.”

    “However, if the multiple exchange rate regime run by Godwin Emefiele is discontinued and replaced by a single forex regime, that can assist the forex market to boom,” he said.

    Meanwhile, a capital market expert, Prof. Uche Uwaleke, had told NIGERIAN ANCHOR that the suspension of Emefiele was long expected.

    Uwaleke, a Professor of capital markets at the Nasarawa State University, Keffi, stated that the suspension will mark an end to a turbulent era

    He added that the CBN Ways and Means, which grew astronomically during his tenure also cast a dark spot on his legacy.

    He, however, noted that Emefiele would be remembered for implementing big ideas such as the Anchor Borrower Programme, the RT200, the eNaira, and a raft of interventions that helped to stimulate the economy during periods of economic recession.

  • Bandits kill 50 farmers, rustle livestock in Niger

    Bandits kill 50 farmers, rustle livestock in Niger

    At least 50 farmers have been reportedly killed by bandits in various communities in Rafi Local Government Area of Niger State, while several others have fled their homes.

    According to reports, the attacks occurred between Wednesday and Saturday.

    In the latest attacks on about five villages which took place between 2pm on Friday and Saturday morning, an unspecified number of lives were lost and several others abducted including women and girls.

    While 13 people lost their lives in Kusherki community, 12 others were killed in Gidigori village and several others were yet to be accounted for.

    The humanitarian crisis in the area had worsened since Wednesday as hundreds of Internally Displaced Persons including women and children from various villages trooped to Kagara, the Headquarters of Rafi LGA, abandoning their villages for bandits whom they said now sleep in their homes.

    One of the fleeing farmers, Abdullahi Usman, told newsmen that bandits numbering over 100, rode on about 50 motorcycles, took over many villages from around 2pm on Friday and operated unchallenged until Saturday morning.

    “It’s true that bandits have resumed attacks with full force. We have not had it easy in the last two weeks but the situation had worsened since Wednesday.

    “As I speak to you, bandits have taken over most parts of Rafi LGA. They had been in Kusherki Community since around 2pm on Friday; they spent the night in Garin-Zara Community and rustled hundreds of cattle, goats and rams and killed an unspecified number of people,” Usman said.

    Another Resident, Mohammed Yakubu disclosed that “they (the bandits) first came to Kusherki Community on Wednesday during which they killed 13 people.  They came back on Friday afternoon and operated in all the villages around the axis until Saturday morning. People had fled. Right now, we don’t even know where many of our people are because everybody ran into the bush.”

    Also speaking, Abdulmalik Usman, another fleeing farmer said, “they raided several villages including Gidigori, Gando, Kusherki and many others. Our cattle, goats and rams have all been stolen.  After they had raided our villages, they headed to Madaka, Hanna-Wanka, Kukoki through Tegina axis this morning (Saturday). The entire Rafi LGA is not safe now. More than 50 farmers were killed in Rafi LGA this week.”

    Victims alleged that the soldiers camped in Kagara and Pandogari did not respond to attacks, saying that they were only patrolling Kagara town.

    One of the IDPs, Sanusi Umar, appealed to the federal and state governments to take quick and decisive steps towards addressing the security challenges, saying that “we don’t know what President Tinubu is waiting for to take action against these people. These people have finished us already. We are hungry and helpless.”

    He added, “The current security situation in Rafi LGA requires immediate and urgent counter insurgency action. The past few days have been very disturbing, rural communities are attacked and people are being kidnapped for ransom while some people are being killed. In Gidigori village alone, 12 persons were killed including the leader of vigilantes. Also, Garun Gabas, Pangu-Gari, Yakila and Kukoki villages have all been attacked between Wednesday and Saturday.”

    The Senator Representing Niger East Senatorial District in the National Assembly, Senator Mohammed Sani Musa on Friday lamented that the bandits had resumed attacks on Rafi, Paikoro, Munya and Shiroro local governments that formed part of his constituency.

    He said the criminals were out to test the power and capacity of the new administrations at both federal and state levels.

    He, however, said he believed President Ahmed Bola Tinubu and Governor Mohammed Umar Bago led governments would deal with the situation.

  • Do business with Binance at your own risk, SEC warns Nigerians

    Do business with Binance at your own risk, SEC warns Nigerians

    The Securities and Exchange Commission (SEC) has warned Nigerians against doing business with Binance Nigeria, saying that they were doing so at their own risk.

    According to a circular by the Commission at the weekend, the activities of Binance in the country was illegal.

    Binance Nigeria Limited is a subsidiary of the well-known global cryptocurrency exchange, Binance.

    According to the circular, “The attention of the Securities and Exchange Commission (the Commission) has been drawn to the website operated by Binance Nigeria Limited, soliciting the Nigerian public to trade crypto assets on its various web and mobile-enabled platforms.


    Binance Nigeria Limited is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal.

    “Any member of the investing public dealing with the entity is doing so at his/her own risk”.


    The SEC further stated that “as the regulator with the statutory mandate of investor protection, the Commission urges Nigerians to be wary of investing in crypto-assets, and crypto-asset related financial products and services if the service provider/its platform is not registered or regulated by the Commission.


    The Commission, therefore, warned Nigerian investors that investing in crypto-assets is extremely risky and may result in a total loss of their investments.

    “By this circular, Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever.

    “The Commission shall provide updates on further regulatory actions with respect to the activities of Binance Nigeria Limited, and other similar platforms and shall work with other regulators in Nigeria to provide further guidance on this matter” the SEC added.

  • Godwin Emefiele’s sack expected, Uwaleke says

    Godwin Emefiele’s sack expected, Uwaleke says

    A Professor of Finance and Capital Market, Uche Uwaleke has said the suspension of the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele on Friday night by President Bola Ahmed Tinubu did not come as a surprise to many Nigerians.

    In a chat with NIGERIAN ANCHOR, Uwaleke said Emefiele’s suspension marks an end to a turbulent era of Nigeria’s economy. 

    Emefiele had come under a barrage of criticisms following the implementation of the naira redesign policy by the Apex Bank. 

    In a swift reaction after his suspension yesterday, Emefiele was arrested by the Department of State Security (DSS), who had tried in vain to arrest him in the past and slammed with terrorism financing charges.

    Uwaleke said: “The Suspension of Godwin Emefelie was long foretold. But, this announcement caught not a few by surprise.

    “The President cannot sack the CBN Governor, but he can suspend, which is what the President Tinubu has done.

    “Recall that Mr Sanusi Lamido Sanusi, was equally suspended from office by the Jonathan administration,” Uwaleke said.

    In spite of the situation,  the financial experts noted that during his tenure as CBN Governor, Emefiele was able to ensure the stability of Nigeria’s financial sector. 

    According to him, he will be remembered for implementing big ideas such as the Anchor Borrower Programme, the RT200, the e-Naira and a raft of interventions which helped to stimulate the economy during periods of economic recession.

    “To be fair, Emefelie, to a large extent, succeeded in ensuring financial sector stability going by the prudential ratios. 

    “His forex demand management policies, especially the 41 items not qualified for forex, promoted import substitution, conserved external reserves and ensured relative stability in exchange rates. It would be unfair to blame him for the current high inflation rate since most of the causative factors are beyond the control of the CBN.

    “On the flip side, he will also be remembered for the currency redesign exercise which didn’t go down well with Nigerians and the CBN Ways and Means which grew astronomically during his tenure.

    “His greatest mis-step was his attempt to join the list of Presidential candidates.

    “All said, I think he deserves some rest now,” Uwaleke said. 

  • Makinde flags off N9.6bn road project in Ibadan

    Makinde flags off N9.6bn road project in Ibadan

    Oyo State Governor Seyi Makinde on Friday flagged off the N9.6 billion Akobo – Olounda/Abaa 8.3 Kilometres Road project in Ibadan.

    The dualisation of the road project in Lagelu Local Government area was contracted to Samchase Nigeria Ltd.

    Makinde, reiterating his commitment to infrastructure development, said that his administration had resolved to put in place critical infrastructure that would open up the state for economic expansion.

    He explained that 30 percent of the contract cost had been paid to enhance speedy completion of the project within the time-frame of 12 months.

    The governor hinted that owners of properties that would be affected by the road dualisation project would be compensated accordingly.

    Makinde, soliciting the co-operation of all residents of beneficial communities, said that the project would have positive impact on the communities.

    According to him, it will also boost the state Internally Generated Revenue when completed.

    He name the entire stretch of 15.3 Kilometres IdiApe – Akobo – Olounda/Abaa Road after former Gov. Nyeson Wike of River, also a political associate of Makinde.

    Commenting, Mr Kazeem Gbadamosi, Chairman of Lagelu Local Government, said that the road dualisation would ease movement of goods and services in the neighborhood.

    Gbadamosi said that the project when completed, would have direct impact on the political and socioeconomic activities of the local government’s residents.

    Also, Mr Hyginus Okoro, Technical Officer, Samchase Nig. Ltd, promised that the company would deliver quality and standard project.

    Okoro said that the company would keep to the time-frame delivery and that value for every penny expended on the project would be provided.

    A cross section of residents of Akobo – Olouda/Abaa communities, in an interview with NAN, expressed joy over commencement of the road project.

    Mr Peter Akande said that flagged off of the project was a positive signal.

    Akande said that all motorists and other road users plying the route would soon experience smooth movement.

    He commended Makinde-led administration for awarding the road project.

    Akande assured the contractor of the communities’ support in ensuring speedy completion of the road construction without hindrance.

    Another road user, Michael Adewale, a commercial tricycle operator, said that the road project when completed would ease vehicular movement and reduce traffic being experienced on the road.

    Adewale urged relevant agencies in charge of the project to ensure effective monitoring to enable the contractor to keep to specification and deliver quality work.

    Traditional rulers, religious leaders, chieftains of the Peoples’ Democratic Party (PDP) in the state, and government functionaries were among the dignitaries that graced the occasion.

  • FCTA reclaims over 500 plots in Katampe District

    FCTA reclaims over 500 plots in Katampe District

    The Federal Capital Territory Administration (FCTA) says it has reclaimed over 500 plots of land at Gishiri in Katampe District from individuals who claimed to be owners of the lands.

    Mr Hassan Ogbole, the Deputy Director, Monitoring and Inspection, FCT Department of Development Control, said this at the continuation of a clean up exercise in Gishiri on Friday.

    He said the illegal structures and other activities in the area affected the Abuja Master Plan and must be dismantled to restore sanity.

    “This is our third time visiting Gishiri in continuation of the city clean up to restore the Abuja master plan.

    “We are concerned with recovering plots taken over illegally by some persons for different purposes, to restore the Abuja master plan.

    Ogbole called on the genuine owners of the plots to commence work immediately to stop the return of illegal structures.

    “Individuals that are allottees of the plots should take them over immediately to avoid new illegal developments, let the owners come in and start developing,” he said.

    On his part, Mr Bello Kaka, the Deputy Director, Monitoring and Enforcement, Abuja Environmental Protection Board (AEPB), said the board was supporting the demolition to sustain mopping of unauthorised activities.

    “Anything that is contrary to the standard would not be allowed, as we will keep the fight against environmental nuisances till the right thing is done,” he said.

    “Mr Peter Olumiji, the Secretary, Command and Control, FCTA Department of Security, said the administration is concerned with having a secured environment for all FCT residents.

    “Allowing illegal structures to remain will continue to provide ground for criminals to exist; we can’t leave such structures that will become safe haven for bad eggs.

    “We had such experience in Gishiri in the past, so removing these illegal structures will make criminals not to have a place to hide and carry out their evil activities, especially in the night,” Olumiji added.

  • Internet Fraud: EFCC arrests 52 suspects

    Internet Fraud: EFCC arrests 52 suspects

    Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) have arrested 52 suspected internet fraudsters in Ogun.

    Its Spokesperson, Wilson Uwujaren, said this in a statement on Friday in Abuja.

    According to him, the suspects are Olamilekan Ayuba, Ogundeyi Kayode, Abdulrahman Abiodun, Blessing Omokaro, Olasupo  Ridwan, Adetola Salau, Adeola Ideraoluwa, Victor Osikwemeh, Taiwo Ayobami, Eleshin Ademola, Ayomipo Adelere, Shogbesan Quadri, Sanni Qudus.

    “Others are: Olanite Oluwatosin, Olatunbosun  Alameen, Aderemi  Adekunle, Olawunmi  Tosin, Ayobado  Olatunde, Ariyo  Taofik, Olugbade David, Olumayowa  Adedayo, Aremu  Alabi, Akintosoye  Pelumi, Fatoye Akanbi and  Adio  Oyebanji.

    “Also arrested  are:  Adekoya Samuel, Adebayo Taiwo, Olawale Bayole, Emmanuel Benjamin, Omotosho Ayobami, Usman Boluwatife, Adewale Adeniyi, Obadina Olawunmi, Ashiru Abdullahi, Ahmed Mubarak, Idowu Kazeem, Olukoya Emmanuel, Yusuf Lukman.

    “The suspect also include: Agesin Eniola, Tajudeen Mustapha, Falola Olalekan, Usman Funsh, Bolaji Usman, Ayiyon Naoh, Mohammed Adeoye, Babatunde Seun, Afela Mustapha, Yusuf Habeeb Olanrewaju, Alao Ayomide, Oyeleye Uman Abduljelil Raji, Adeniyi Abdulmojeeb,” he said.

    He said that they were arrested during sting operations between June 7 and  June 8, following intelligence received by the commission about the activities of some individuals involved in computer-related fraud in some areas of the state.

    He said that items recovered from the suspects included mobile phones, laptop computers and cars.

    Uwujaren said that the suspects would  be charged to court after investigations are concluded

  • FCCPC recommences registration of digital money lenders

    FCCPC recommences registration of digital money lenders

    Federal Competition & Consumer Protection Commission (FCCPC), has said it is recommencing the registration of digital money lenders in Nigeria.

    A statement by Executive Vice Chairman/Chief Executive Officer of the Commission, Babatunde Irukera, Friday in Abuja, said the move became necessary as the Commission continues to receive requests for registration, approval or clearance by both then existing platforms that failed to timely comply with the mandatory deadlines.

    While stating that it is in pursuant to several sections of its Act, the Commission said it would resume the process of collecting both new and old applications which should be duly accompanied with a late processing fee.


    “On August 18, 2022, the Federal Competition & Consumer Protection Commission (FCCPC) as part of the Joint Regulatory and Enforcement Task Force (JRETF) introduced a Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022 (Guidelines 2022 or “Guidelines”), as well as an associated registration process/platform.


    “For already existing Digital Money Lenders (DMLS), the Guidelines mandated completion of the registration process by November 14, 2022 in order to remain in business and retain privileges of services by providers such as Google Playstore and payment systems or gateways. On December 6, 2022, the Commission extended that deadline to January 31, 2023; and subsequently to March 27, 2023.


    “Accordingly, while the JRETF continues the work of developing a more robust, comprehensive and enduring digital lending regulatory framework, the Commission will resume receiving and approving eligible DML applications (new and previously inexistent businesses) and requests (including those already received and pending) under, and in accordance with the Guidelines and existing process,” it said. 

    Accordingly, FCCPC directed those submitting late applications to include a letter stating reasons for failing to complete registration before the first deadline.  

    “In addition, these applications (whether already received and pending, or otherwise) shall be subject to a late processing fee. This fee should be paid through the Remita platform under the Approval Fee section.


    “Financial institutions that are licensees, and subject to the regulatory oversight of the Central Bank of Nigeria (CBN) are exempt, and may obtain the required approval by a written request seeking a waiver by demonstrating such exemption, including evidence of licensure by the CBN.


    “The Commission and JRETF continue to monitor the market and enforce the law with respect to digital lending. While violations still exist, the Commission notes substantial reduction in practices that violate consumer privacy, constitute harassment and unacceptable unconventional loan repayment/recovery strategies, as well as unexplained charges associated with loans,” the Commission further explained. 

    The Commission urged Nigerians to continue to report incidences of infringement for appropriate regulatory responses.