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What Tinubu Told Lawmakers During 2024 Budget Presentation

President Bola Tinubu on Wednesday presented the 2024 appropriation bill at the National Assembly’s joint session, marking his first annual budgetary presentation since assuming office six months ago.

The President spoke at length about the economic environment, focusing on the challenges and strategies to navigate global headwinds while ensuring Nigeria’s economic stability.

Tinubu highlighted achievements and outlined the key priorities of the proposed budget, themed ‘Budget of Renewed Hope.’

“Renewed Hope” encompasses job-rich economic growth, enhanced human capital development, poverty reduction, and a greater emphasis on social security.

Defense and internal security were highlighted as top priorities, with plans for an overhaul of the internal security architecture.

The President emphasized the importance of sustainability, focusing on funding tertiary education through a Student Loan Scheme and implementing business-friendly measures to catalyze private investment.

The goal is a minimum economic growth of 3.76 percent and a moderated inflation rate of 21.4 percent for 2024.

In alignment with global climate action, Nigeria aims to position itself as a leader in clean and sustainable energy.

President Tinubu directed efforts toward COP 28 commitments, urging engagement to showcase Nigeria’s strides in creating an enabling environment for sustainable energy projects.

The proposed 2024 budget allocates 27.5 trillion naira for the Federal Government, emphasizing non-debt recurrent expenditure, debt service, and capital expenditure.

He said The government remains committed to meeting debt obligations while exploring public-private partnerships for critical infrastructure financing.

President Tinubu lauded the collaborative efforts of the National Assembly and assured commitment to sustaining the relationship for the benefit of Nigerians.

He urged a thorough legislative review process, emphasizing equitable and impactful project selection aligned with governmental visions and sectoral mandates.

11/29/2023
Emefiele Not Owner Of Firm That Awarded N1.2bn Contract – Witness

The first prosecution witness, Samsideen Romanus, in the trial of the former Governor of the Central Bank of Nigeria CBN, Godwin Ifeanyi Emefiele, exonerated him of wrong doings in the Award of N1.2bn vehicle supply contracts by CBN under him.

In his testimonial, an official of the Corporate Affairs Commission (CAC) gave evidence on how the company, April1616 Investment Limited, was incorporated on August 1, 2016 and tendered several documents on how the company was floated.

Economic and Financial Crimes Commission (EFCC) is prosecuting Emefiele on six counts charge bordering on alleged breach of procurement procedure in the award of the contract to April1616 Investment Limited.

According to the witness, the shareholders of the Company are Aminu Idris Yaro, Maryam Aliyu Abdullahi and Saadatu Ramalan Yaro as joint owners of the entity.

Led in evidence by the counsel to the Anti-graft agency, Rotimi Oyedepo SAN, the witness said that Emefiele’s name was not in anyway connected with the company.

The second witness, Remigious Ugwu, a Compliance Officer with Zenith Bank told the on how various sums of money in millions of naira were paid by the CBN into the April1616 Investment Limited.

Specifically, he told Justice Hamza Missing how on October 19, 2020, a sum of N39, 060, 465. another N421, 953, 488 on November 6, 2020 and and the third one N304, 883, 720 was paid on November 23, 2020 to the same company by CBN.

Similarly, he said that N304, 883, 720 was paid on January 1, 2021 and another N304, 883, 720 paid the same company on March 23, 2021 by the Central Bank of Nigeria.

He admitted that non of the payments has any link Emefiele’s name while also that he did not know the purpose of the payments.

The witness who tendered various documents on behalf of the bank said that the former CBN governor was not a signatory to the bank account of the company.

The third witness, Oluwole Owoeye, a Deputy Director, Banking Services with CBN and former Secretary to Major Contract Tendering Committee MCTC of the CBN said that his body was responsible for ensuring of compliance with Procurement Act told the court by CBN in the award of contracts.

Owoeye however informed the court that his committee was not involved in the vetting of bidding for the award of contracts that led to prosecution of Emefiele.

The witness explained that another committee handled the bidding because it was above the thresholds of his own Committee

“My Lord, all I know is through our records is that contracts for award of vehicle supplies were awarded to April1616 but I cannot say whether the contracts were executed or paid for because my Committee played no role”.

He admitted that MCTC and Procurement Department were fully functional while Emefiele held sway as CBN governor.

Meanwhile, further trial has been adjourned till January 18 and 19 next year.

The former CBN Chief was accused of conferring corrupt advantages on a staff of CBN, Mrs Saadat Ramallan Yaro through awards of vehicle supply contracts worth over N1.2 bn contrary to section 19 of the Corrupt Practices and other Related Offences Act 2000.

He had denied the six count criminal charges.

11/28/2023
Binis Didn’t Found Lagos, Balogun Of Eko Counters Benin Monarch

The Balogun of Eko, Abisoye Oshodi, has disputed claims made by the Oba of Benin, Oba Ewuare II, regarding the founding of Lagos.

During Oba Ewuare II’s recent visit to Lagos State, he said that the Binis were responsible for founding certain parts, if not all, of Lagos.

However, Oshodi, in a video circulated online, refuted this claim, asserting that Lagos was never founded by the Binis.

“Incorrect,” remarked Oshodi, addressing Oba Ewuare II respectfully.

“Lagos existed prior to the arrival of your ancestors. They settled on a small island known as Eko, but they did not establish it. The island predates their arrival.”

Oshodi clarified that the Binis introduced a taxation system upon their arrival but did not create the island.

He highlighted the presence of various tribes like the Awori’s, Isheri’s, and Olofin’s before Lagos’ establishment.

The dispute between the two monarchs has triggered widespread debates on social media platforms, sparking discussions about Lagos’ historical origins and the diverse cultural influences that shaped the region.

11/28/2023
We’ll Not Be Moved By Public Opinion – CJN

Chief Justice of Nigeria (CJN) Justice Olukayode Ariwoola has reasserted the judiciary’s unwavering dedication to impartiality amidst public influence.

During the inauguration of the 2023/2024 legal year and the induction of 58 Senior Advocates of Nigeria, the CJN stressed the values of diligence, integrity, and respect among judicial officers.

Ariwoola emphasized the imperative for humility in discharging duties, urging fair treatment of litigants, witnesses, and bar members.

He assured that the judiciary will remain unswayed by external pressures, underscoring that public sentiment should never overshadow the law in decision-making processes.

“The law stands firm, irrespective of individual interests. As interpreters of the law, we must detach emotion from logic and facts from assumptions,” stated the CJN.

He cautioned against succumbing to the clamor of the masses, advocating for decisions guided solely by legal principles rather than sentiment. Emphasizing the significance of judicious conduct, Ariwoola highlighted that needless remarks could undermine not only others but the judiciary itself.

Pledging to safeguard the rule of law and the judiciary’s autonomy, the CJN reiterated his commitment to preserving public trust and confidence in the legal system.

11/27/2023
Keyamo Summons Aviation Heads Over Safety Concerns

Aviation Minister, Festus Keyamo, has urgently convened a meeting with top officials from regulatory bodies in the Nigerian aviation sector to tackle growing worries about safety within the industry.

Keyamo outlined the meeting’s focus, highlighting the need for a thorough examination of recent events that have stirred public unease regarding aviation safety.

Expressing a proactive stance, the minister emphasized the necessity of implementing strict measures to prevent similar incidents from happening in the future.

In a statement shared on X, he stated, “In response to the safety apprehensions raised by the public in the aviation sector, I’ve called upon the heads of regulatory agencies to convene later today. Our aim is to scrutinize the incidents causing these concerns, ensuring preventive actions and applying necessary penalties for prior mishaps.”

This initiative comes in the wake of multiple unsettling occurrences in the aviation industry over the past few weeks.

11/27/2023
Police, DSS Neutralise 3-Man POS Robbery Gang

Operatives of the Nigeria Police and those of the Department of State Services neutralised a three-man robbery gang in Enugu on Sunday.

The gang specialised in robbing Point of Sale (POS) operators.

Police spokesman in Enugu State, DSP Daniel Ndukwe stated that the gang members were neutralised in a gun duel after which arms and ammunition and their operational tricycle were recovered from them.

Two locally-made pistols, six rounds of 0.9mm calibre ammunition and N500,000 cash were also recovered from the gang, he stated.

“Other exhibits recovered were rolls of POS transaction printing papers, assorted mobile phones, wallets, bags and objects suspected to be charms,’’ he added.

Ndukwe stated also that the hoodlums had earlier robbed different POS operators and their customers at gunpoint in different locations in Enugu.

“At about 1 p.m., the hoodlums attacked POS operators at different locations in Enugu metropolis, dispossessing them of the recovered exhibits.

“The hoodlums opened fire on security operatives who mounted surveillance on them upon sighting the latter.

“The security operatives responded with superior firepower, neutralising the three of them and recovering the exhibits in the process,’’ the police spokesman stated.

He added that many of the victims later identified the assailants and some of the recovered exhibits.

“Investigation is on-going to possibly fish out other members of the criminal gang,’’ Ndukwe also stated.

11/27/2023
Tinubu Mulls Full Varsity Autonomy

President Bola Ahmed Tinubu has disclosed plans to reinstate the Policy of University Full Autonomy, emphasizing its alignment with the government’s belief that autonomy empowers institutions to progress independently.

During the University of Benin’s 48th convocation ceremony, conveyed by Minister of Niger Delta Development, Engineer Abubakar Momoh, the president stated, “University autonomy will shift performance responsibility directly to individual institutions, alleviating uncertainties.”

Acknowledging concerns over unpaid salaries, Tinubu admitted, “The government is aware of the issues arising from months of overdue payments, particularly among teaching staff unions due to an eight-month industrial action.” To address this, he announced a four-month salary payment for university workers.

Clarifying, Tinubu asserted, “This payment waiver is necessary and does not nullify the ‘No Work, No Pay’ policy.”

The government also pledged to enhance university conditions by providing vital infrastructure—lecture halls, student accommodations, administrative facilities, and educational resources—through the Tertiary Education Trust Fund (TETFund), aiming to boost staff and student performance.

Tinubu affirmed, “As a responsible government, we’ll allocate substantial resources to education and develop sustainable policies transcending this administration.”

Highlighting universities’ multifaceted roles in research, technological advancements, skills impartation, and fostering entrepreneurial mindsets, Tinubu expressed commitment to fortify these institutions.

11/27/2023
Just In: Edo Deputy Gov, Philip Shaibu Declares Governorship Bid

Amid mounting speculations, Deputy Governor Philip Shaibu has formally announced his bid to succeed Governor Godwin Obaseki as the Governor of Edo State in the upcoming 2024 election.

In a televised address on Monday, Shaibu expressed his firm resolve, stating, “With great conviction and dedication, I declare my intention to contest for the office of Governor of Edo State under the Peoples Democratic Party (PDP) in the forthcoming 2024 election. Together, with your support, we can steer Edo State to unprecedented progress.”

Shaibu outlined a comprehensive vision centered on five key pillars crucial for the advancement and prosperity of Edo State during his campaign.

Following his announcement, Shaibu inaugurated his campaign headquarters in Benin City, the state capital, signaling the commencement of his gubernatorial campaign.

Last week, the Philip Shaibu Campaign Organisation issued invitations, inviting dignitaries to witness Shaibu’s formal declaration to serve as the Chief Servant (Governor) of Edo State.

Shaibu’s candidacy sets the stage for a potential political battle against Governor Obaseki, who is reportedly supporting an alternative candidate for the state’s leadership.

Recent months have witnessed escalating tensions between Shaibu and Obaseki, hinting at a fierce electoral contest in the run-up to the 2024 elections.

11/27/2023
N5.6bn Scam: Former NIRSAL Boss, Abdulhameed Arrested After 5-Month Hunt

A former Managing Director of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Aliyu Abdulhameed, has been arrested almost a year after he was sacked.

NIGERIAN ANCHOR understands that NIRSAL is a $500m non-bank financial institution, which was created by the Central Bank of Nigeria (CBN).

It was created to manage agribusiness-related credit risks in Nigeria.

Recall that Abdulhameed was relieved of his duties following allegations of corruption, including a 2018 N5.6 billion wheat project meant for farmers in Kano and Jigawa States.

The Board of the CBN endorsed his sack, following approval from the Presidency in December last year.

Daily Trust, in January last year, investigated how a multi-billion-naira loan guaranteed by NIRSAL for three investor companies for the cultivation of 20,000 hectares of dry season wheat in Kano and Jigawa States was allegedly diverted by the companies in connivance with NIRSAL officials.

In the course of the investigation, the platform revealed that it visited the affected communities in the two states where farmers said they were deceived.

Community leaders there said they were told the project was aimed at changing the lives of 20,000 smallholder farmers.

They said after making farms available, affected farmers were promised fertiliser and other inputs for the wheat plantation, but never saw any of these thereafter.

Both Abdulhameed and the three investor companies had denied wrongdoing.

However, when the Special Investigator appointed by President Bola Tinubu and his support team to probe the activities of the apex bank and related entities swung into action in September this year, there was panic and apprehension within the top hierarchy of the CBN and the NIRSAL.

The Special Investigator, Jim Obazee and his team, led by DCP Eloho, were said to have beamed their searchlight on the NIRSAL and the CBN’s Anchor Borrowers’ Programme which have, over the years, been at the centre of investigations.

The ex-NIRSAL boss, who is said to be in the custody of the DSS, is being quizzed on multiple allegations of corruption during his tenure.

A source at the NIRSAL revealed that the investigators put in place by President Bola Tinubu were also seeking answers based on findings contained in an investigation earlier conducted by a team from the CBN following a petition against the NIRSAL on alleged fraud, money laundering and criminal conspiracy.

It was gathered that following the investigation, the Banking Supervision Department of the CBN wrote to the ex-NIRSAL boss seeking an explanation for “observed breaches of internal policies and procedures of the organisation, relevant regulations and laws, especially the Public Procurement Act 2007.”

According to the platform, the query on the breaches was conveyed in a letter referenced: BSD/SPG/CON/NIR/13/083 titled: ‘On a spot check on the operation of NIRSAL conducted between August 27, 2020 and September 11, 2020.’

11/27/2023
Tinubu’s Reforms Will Bring Prosperity To Nigeria -AGF

The Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN), has said ongoing reforms of President Bola Ahmed Tinubu will bring economic prosperity and stability to Nigeria.

He urged Nigerians to be patient with the president and support the reforms being introduced across the board.

Fagbemi spoke during a prayer organised in his honour by his family in his Ijagbo country-home in Oyun Local Government of Kwara State on Friday.

The event was attended by the state governor, Abdurrazaq Abdurrahman; monarchs, friends and well wishers.

A statement signed by the S A Communication & Publicity to AGF& Minister of Justice, Kamarudeen Ogundele, stated that the minister assured Nigerians of the president’s determination to take the country out of the woods.

He said, “The president is not looking for self aggravadisement. He’s seeking a better future for the country.

” Immediately after his swearing in, he has been all out to seek investors’ buy-in. As a result, positive responses have been trailing his discussions with foreign investors. The only thing we need is to exercise some patience. Even if you plant a tree, it won’t grow into fruition until after a while.

“Nigerians need to be patient; things will improve greatly in the coming days. The sacrifices of today will translate to a greater future for the country. I know with prayers and support of Nigerians, the country will emerge stronger.”

The AGF commended the governor for his giant strides in the state.

11/26/2023