News Politics December 07, 2024 Group Drums Support For Felix Amadi for Ohanaeze Ndigbo Presidency

As momentum gathers for replacement of late Chief Emmanuel Iwuanyanwu as the President-General of Ohanaeze Ndigbo, a group Igbo Liberation Movement (ILM) has called for the support of all Igbo sons and daughters to ensure that a credible candidate with sound track record and needed charisma emerges as the leader of the pan-Igbo socio-cultural group.

The group says the next leadership of Ohanaeze will be a precursor to the political inclusion of Ndigbo in Nigeria's leadership equation.

In a statement on Friday, the National Publicity Secretary of ILM, Dr. Kelechi Ezeiro said the zoning of Ohanaeze Ndigbo leadership to Rivers State was strategic and timely, saying it would reduce rancorous jotle for the leadership of Ohanaeze.

The group therefore said after a careful look at all those indicating interest to be the next President of Ohanaeze Ndigbo from Rivers state where it has been zoned to, it is convinced that a renowned academic, Dr. Felix Chinyerumngozi Amadi ticks all the boxes for the kind of leader that will galvanize the strength of Ndigbo for nation-building.

He said, "At this point of our national history, Ndigbo needs a leaders who understands the plights of the people and can easily relate with it and not those who are strangers to what the hardworking populace of Ndigbo are facing.

"Having carefully understood the antecedents of Dr. Amadi as someone who is not only a bonafide son of Ikwerre land, he is also someone who has a distinguished career in the oil and gas sector, rising to the level of a manager.

"He has continued to champion the course of Ndigbo and presenting their interest at the front burner at every public discourse. A properly educated man, he holds a PhD and has gone ahead to impact knowledge as a lecturer as the Institute of Petroleum Studies (IPS) Uniport. 

"A man who has such exposure and popularity is what we need to move Igbo land forward. With him as the President-General of Ohanaeze Ndigbo, Igbo land will have a voice beyond the shores of Nigeria", he noted.

News Politics December 06, 2024 Deji Adeyanju apologizes to PDP leaders over ‘defamatory comments’

Human rights activist and lawyer, Deji Adeyanju, has issued a formal apology to the acting National Chairman and National Secretary of the Peoples Democratic Party (PDP), Umar Damagun and Senator Samuel Anyanwu, over alleged defamatory remarks.

In a letter dated December 6, written on behalf of Adeyanju by his law firm, Deji Adeyanju & Partners, and signed by Zainab Otega, the activist retracted his comments. The letter, addressed to the PDP leaders’ counsel, Johnson Usman (SAN), stated that the remarks were not intended to defame and apologized for any contrary perception.

The letter read:

“We are solicitors to Deji Adeyanju, Esq (hereinafter referred to as our client), on whose instruction we act.

“Our client received two letters from the law firm of the revered Senior Advocate of Nigeria, J. J. Usman, alleging that some statements he made on a podcast a few weeks ago were deemed defamatory of Damagun and Anyanwu, the National Chairman and Secretary of the PDP respectively.

“Our client’s statements on the podcast were taken out of the bigger context of the conversation which is the need for the leadership of the People’s Democratic Party to provide a virile opposition to the ruling party.

“These statements were not intended to defame your clients, and any perception of defamation in the said statements is regretted and withdrawn with apologies.

“As a human rights activist, our client remains committed to the betterment of Nigeria and will continue to urge those in leadership to prioritize the interest of Nigerians over and above personal interest.”

The apology followed allegations made by Adeyanju during his appearance on The Honest Bunch podcast. He had accused Damagun and Anyanwu of undermining the PDP’s opposition role by being complicit with President Bola Tinubu’s administration.

Adeyanju specifically claimed that Damagun “serves tea” and Anyanwu “serves Kilishi” in the home of the President’s Chief of Staff, Femi Gbajabiamila. He further alleged that both leaders, alongside FCT Minister Nyesom Wike, are acting as moles for Tinubu within the PDP.

“The current PDP is in Wike’s pocket at the national level. He installed the current PDP National Chairman who goes to serve tea in Femi Gbajabiamila’s house,” Adeyanju stated during the podcast.

He continued, “While Damagun is serving tea, PDP’s National Secretary, Sam Anyanwu, goes to the kitchen to serve Kilishi. They are the people in charge of the PDP. These are Tinubu’s moles, just like Abure in LP who is an APC mole. There is no opposition; that’s why nobody is challenging the system. Aside from a few of us, who else is talking?”

In response, Damagun and Anyanwu, through their counsel, threatened legal action unless Adeyanju retracted the remarks and issued a public apology across national newspapers and social media platforms.

News December 06, 2024 Real reason I drive expensive cars, wear designer clothes in UK – Pastor Tobi

Nigerian pastor and founder of SPAC Nation, Tobi Adegboyega, has explained his preference for luxury cars and designer clothes, claiming it serves as inspiration for young people.

His comments come in the wake of a United Kingdom immigration tribunal’s decision to deport him.

The 44-year-old pastor has been accused of overstaying his visitor’s visa after arriving in the UK in 2005. He reportedly sought to remain in the country on human rights grounds. However, the court ruled for his deportation, asserting that he had not adhered to immigration rules.

Defending his lifestyle in court, Adegboyega stated that his wife, Mary Alade, who earns £100,000 annually as an employee of AON, has been financially supporting him.

“The court ruling quoted the controversial pastor as saying, “I live with my partner, Mary Olubukola Alade, who earns £100,000 per year working for AON. I spend my time working for the church, for which I am unpaid. I am entirely supported by Mary.

“I have a first-class law degree from Nigeria but I have ‘sacrificed’ my legal career to help those who cannot help themselves.”

The court also heard, “For instance, people have pointed to the fact that he wears designer clothing and drives expensive cars. He was adamant that all of his personal possessions had been paid for by Mary.

“He has never taken a penny from the church. He believes that it is important for him to dress the way that he does because he needs to inspire these young people – they need to understand that there are legitimate ways of making money, for instance through entrepreneurship.”

Reacting to the court’s ruling on his deportation, Adegboyega on Thursday dismissed the allegations, insisting that no amount of persecution would bring him down.

He said, “I’m right here at home, no cause for alarm. Naturally, I will dismiss things that have to do with retrogression; every Nigerian should be proud of me. Living in the UK, a city that is well known for pulling people down, I have survived all sorts, so the matter that they are propagating is the smallest matter.

“No panic, I love London city, it is my city and nobody can do anything. Of all the people of colour you know here – pastors and leaders, I have survived everything.

“I’m here, I am at home, nobody should panic for me. I succeeded well in this country despite all challenges and I’m in the league of people you look up to. I have survived that well, nothing has changed, nothing will change.”

(PUNCH)

Business News December 06, 2024 Naira rebounds, maintains gains against dollar after launch of new trading system

The naira has shown remarkable gains over the past five days, bolstered by Nigeria’s successful $2.2 billion Eurobond issuance and the introduction of the Central Bank of Nigeria’s (CBN) Electronic Foreign Exchange Matching System (EFEMS).

In a related development, the National Bureau of Statistics (NBS) announced yesterday that the nation’s total merchandise trade reached N35.16 trillion in the third quarter of 2024, compared to N31.89 trillion in the previous quarter.

Naira’s Progressive Appreciation

On the official foreign exchange market, data from the CBN indicated steady strengthening of the naira against the dollar throughout the week. On Monday, the currency opened at N1,662.77/$1 and appreciated to N1,644.78/$1 by Tuesday. By midweek, it climbed further to N1,613.86/$1, and on Thursday, it traded at N1,587.29/$1. Friday, the naira closed at N1,533.93/$1, marking its strongest performance in weeks. This five-day trend resulted in a cumulative gain of N128.84, reflecting a 7.7% appreciation.

Similarly, the parallel market witnessed positive momentum. After hovering around N1,745/$1 for a month, the naira appreciated to N1,720/$1 on Tuesday. By Wednesday, it strengthened to N1,670/$1 and continued to improve, reaching N1,640/$1 on Thursday and N1,590/$1 by the end of the week. This represented a five-day gain of N155.

Eurobond Issuance Boosts Confidence

Earlier this week, the Debt Management Office (DMO) successfully raised $2.2 billion through Eurobonds, comprising $700 million in 6.5-year notes at 9.625% and $1.5 billion in 10-year notes at 10.375%. The issuance attracted strong demand, with the order book reaching $9 billion and participation from investors across North America, Europe, Asia, the Middle East, and Nigeria.

Patience Oniha, the DMO’s Director General, described the outcome as a testament to investors’ confidence in Nigeria’s economic policies and prudent fiscal management. She highlighted the robust response from international investors and reiterated the agency’s commitment to maintaining transparency and active engagement with global capital markets.

New Forex System Encourages Transparency

The launch of EFEMS, which coincided with the Eurobond issuance, provided additional support to the naira. The system, operated through Bloomberg’s BMatch platform, enables licensed dealer banks to anonymously place and match foreign exchange orders, fostering transparency and enhancing market discipline.

CBN Governor Olayemi Cardoso described EFEMS as a vital component of the central bank’s strategy to stabilise the foreign exchange market and boost investor confidence. Market participants have widely welcomed the platform, which aims to eliminate distortions and promote market-driven pricing.

Trade Performance Strengthens

According to the NBS, Nigeria’s total merchandise trade in Q3 2024 reached N35.16 trillion, up from N31.89 trillion in Q2 2024. This represents an 81.35% increase compared to the same period in 2023. The trade balance remained positive at N5.81 trillion, a 43.60% increase from the previous quarter.

Exports accounted for N20.48 trillion, representing 58.27% of total trade. Crude oil dominated, contributing N13.41 trillion or 65.44% of total exports, while non-crude exports accounted for N7.08 trillion. Imports, on the other hand, totaled N14.67 trillion, making up 41.73% of total trade.

Key Export Destinations

Spain remained Nigeria’s top export destination with N2.26 trillion or 11.07% of total exports, followed by the United States (N1.68 trillion), France (N1.58 trillion), the Netherlands (N1.43 trillion), and Italy (N1.37 trillion). These five countries accounted for 40.79% of total exports in Q3 2024.

By region, Europe received the largest share of Nigeria’s exports at N9.23 trillion or 45.07%, followed by Asia (N5.18 trillion) and America (N3.37 trillion). Exports to Africa stood at N2.48 trillion, with ECOWAS countries accounting for N1.54 trillion of this total.

International News December 06, 2024 South African President urged to resign over new visa policy for Nigerians

President Cyril Ramaphosa’s decision to introduce a simplified visa process for Nigerians has ignited widespread criticism in South Africa, with calls for his resignation gaining momentum on social media platforms.

The policy, designed to enhance economic and tourism opportunities, was unveiled on December 3 during the 11th Session of the South Africa-Nigeria Bi-National Commission held in Cape Town.

Opponents of the move argue that the government is neglecting domestic issues in favor of foreign relations. The backlash has included an open letter to the president and a wave of online protests.

Responding to the controversy, the presidency defended the policy as part of a broader plan to streamline visa procedures worldwide.

“Our efforts to create a favourable environment include introducing a simplified visa process for Nigerian business people. Those who qualify can be granted a five-year multiple-entry visa,” Ramaphosa said. He also noted that Nigerian nationals would no longer be required to present passports when applying for visas.

The announcement comes amid strained relations between Nigerians and South Africans, with tensions often playing out on social media. Critics have warned that easing visa restrictions could worsen South Africa’s existing social and economic challenges.

Despite the outcry, the government insists that the initiative aims to foster stronger bilateral ties and promote economic collaboration between the two nations.

News December 06, 2024 Tinubu makes new appointments

President Bola Tinubu has submitted a revised list of nominees for the first Governing Board of the North West Development Commission (NWDC) to the Senate for approval.

Lawal Abdullahi has been proposed as the new chairman of the NWDC, alongside nominees Ja’afar Sadeeq and Yahaya Abdulhadi as board members, according to a statement by Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, released on Friday.

This comes after an earlier nomination in September, where Amb. Haruna Ginsau was named chairman, with Sen. Tijani Kaura and Hon. Abdulkadir Usman as board members.

Additionally, Emeka Atuma has been selected to chair the South East Development Commission (SEDC), with Prof. Abdullahi Ma’aji remaining as managing director and chief executive officer.

Other members of the NWDC board include Dr. Yahaya Namahe, Engr. Muhammad Wudil, Shamsu Sule, Nasidi Ali, and Aminu Suleiman.

Following adjustments to the NWDC’s establishment act by the Senate, which allowed for broader regional representation, Tinubu’s updated list features Chukwu Chijioke, Ahmed Mohammed, Engr. Ahmed Timasaniyu, Macdonalds Uyi, Yemi Ola, and Hon. Babatunde Dada, representing all six geo-political zones.

In the case of the SEDC, Tinubu has also nominated Hon. Mark Okoye as managing director and chief executive officer, pending Senate confirmation. The proposed members include Barr. Ugochukwu H. Agballah, Hon. Okey Ezenwa, Chief Hyacinth Ikpor, Hon. Donatus Nwankpa, Barr. Ifeanyi Agwu, Nasiru Usman, and Hamma Adama Kumo.

Further nominees to the commissions include Edward David Onoja, Orure Kufre Inima, and Chief (Mrs.) Joke Adebayo-Chukwuma. Additional appointees for executive roles are Prince Obinna Obiekweihe (Executive Director, Projects), Sen. Anthony O. Agbo (Executive Director, Finance and Administration), and Dr. Daniel Ikechukwu Ugwuja (Executive Director, Corporate Services).

President Tinubu emphasized his dedication to fostering regional development and encouraged the nominees to utilize their expertise to advance the mandates of their respective commissions.

News December 06, 2024 12 iron condemn collectors jailed in Delta, several others arrested

A mobile court in Asaba has jailed twelve unlicensed collectors of scrap metal, otherwise known as Iron Condemn, for doing business without due process, and for not obtaining license from Delta state government.

Those convicted are to serve different jail terms without option of fine, so as to serve as deterrent to others.

They were arrested by the Delta State Environment Marshals for engaging in illegal scrap metal collection, which poses significant security risks to residents of the state.

The court ruled that their actions undermined public safety and warranted strict punishment to deter others from similar illegal activities.

The Chairman of the Taskforce, Chief Godspower Asiuwhu, while commending the court’s ruling, assured residents that the state government will continue to do the needful to protect life and property, maintain law and order.

He urged residents to report any suspicious movements and criminal activities to law enforcement agents and local vigilante in towns and villages, adding that the state environmental marshal and taskforce shall continue to do the needful until unlicensed l Iron Condemn operators are shown the way out of Delta State.

In the same vein, the Director General, Delta State Orientation and Communications Bureau, Dr Fred Latimore Oghenesivbe, urged residents in the state not to patronize unlicensed iron condemn collectors to avoid arrest and prosecution, pointing out that it was, and still unlawful to do business with law breakers and defiants.

He disclosed that regulations and subsisting laws in the state clearly prohibited door-to-door collection or scavenging of scrap metals and other recyclable materials, use of carts or other hand-held carriers such as sacks, compulsory registration, licensing and annual renewal of licenses of operations of persons involved in the business of collection of scrap metals and other renewable materials.

“Operators must profile their staff and persons engaged in the business of scrap metal, and other recyclable materials collection with the appropriate government agencies.

“Means of people identification of staff and persons engaged in the business of metal scrap and other recyclable materials collection is compulsory, while employees must wear apparels with visible identification and license numbers of employers.

“Compulsory registration, licensing and annual renewal of licenses of vehicles and other approved means of collecting scrap metals or other recyclable materials for sale, are non-negotiable.”

It must be emphasized that the ban on unlicensed Iron Condemn operators in Delta State is still in force, offenders shall be apprehended and prosecuted, and jailed by Court of competent jurisdiction.