Hon. Fatuhu Muhammadu, a nephew to President Muhammadu Buhari, has dumped the All Progressives Congress (APC).
Fatuhu who is the son of President Buhari’s elder sister represents Daura/Mai’Adua/Sandamu Federal Constituency of Katsina State in the House of Representatives.
He had failed to secure his reelection bid. In the primary election, Fatuhu got only 30 votes while his rival, Aminu Jamo, polled 117 votes.
In a letter to the ward Chairman of Sarakin Yera A Ward in Daura, Fatuhu thanked the party for giving him its platform.
“This is to notify you that I have resigned my membership from the All Progressive Congress (APC) with immediate effect commencing from Wednesday 13th day of July, 2022.”
“Attached here with is my party membership registration slip with slip no: KT/DRA/10/00002. While I thank you and the party for the opportunity given to me to serve the interest of the people of Daura/Sandamu/Maiadua federal constituency while working with the party, accept my best wishes please.”
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Celebrity barman, Okechukwu Pascal, popularly known as Cubana Chiefpriest, has escaped unhurt from an armed attack in Anambra State as unknown gunmen rid his convoy with bullets.
Reacting, the self-styled Chiefpriest took to social media to thank well-wishers who reached out to him.
He noted that he did not lose anyone in the brutal attack that happened on his way to work in Asaba.
The attached vide shows that the vehicles conveying the billionaire businessman and his convoy were filled with bullet holes.
Narrating his ordeal in a video shared on twitter by Naijanews_pilot, he said: “God Did!!! The marathon continues, all my people are safe & sound. Shit never happened here in Imo. It happened in Anambra on my way to work.”
Watch video below:
While his vehicle was riddled with bullets, Cubana Chiefpriest said him and his entourage are safe.
He said, "God Did!!! The marathon continues, all my people are safe & sound. Sh*t never happened here in Imo. It happened in Anambra on my way to work pic.twitter.com/cv8UhTFfch
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The presidential candidate of the Labour Party, Peter Obi has visited the former Ekiti state governor, Ayodele Fayose at his Lagos residence.
Though, Newsband could not independently verify the reason for the visit but sources said that the former Anambra State governor was in Lagos in order to show support to Fayose who is currently recuperating from a successful back surgery he had last month in an undisclosed hospital outside Nigeria.
A 42-year-old man identified as DonChris John has been allegedly caught raping the 12-year-old mentally unstable daughter of his neighbour girl in Ebonyi State.
Chairman of Human Rights Defenders (HURIDE) Sampson Oko Nweke, who disclosed this on Facebook, zsaid the incident happened on Saturday, August 6, in Inyere community, Ezza North Local Government Area of the state.
According to Mr Nweke, the victim was sent on an errand when the suspect allegedly lured her to his house and raped her.
The suspect confessed to the crime, claiming that the girl told him that they should ‘do something’.
Read the full report below…
This man here was caught raping a 12yr old mentally unstable girl, a daughter of his close neighbour. The 42yr randy old man gave his name as DonChris John from Onunweke Inyere.
The little girl was said to have been sent on errand by his father when Mr John intercepted, induced and raped her. It was the wailing of the girl that attracted neighbours who rushed to John’s house and shockingly caught him in the act.
The neighbours successfully disentangled the victim from her rapist and immediately dialed the Human Rights Defenders (HURIDE) after they had arranged with Ebubeagu to guard him from escaping. The call came some minutes before 5pm but HURIDE got there a few minutes before 6pm. It was above an hour drive.
The alleged rapist, Mr Don Christian John admittedly confessed to HURIDE;
“I saw one small girl going somewhere, a daughter of (name withheld); I called her to come and help me peel cassava. While she was helping me peel my cassava, she told me she was hungry. As I went inside to bring the food, she followed me to eat and she followed me. She said to me that after eating the food we will do something (have sex) and I accepted. When I pressed her breast,she started shouting. I actually inserted my pe*nis, but it did not enter very well” before passers-by besieged my house.” he said.
Meanwhile, HURIDE, with the help of some Village leaders and Ebubeagu security men, ensured the suspect was taken to a nearby Achiagu police station from where he will be transferred appropriately for onward trials. The girl is being brought to Abakaliki for medical screenings, possible treatments and proper counseling.
Indigenous People of Biafra (IPOB) has disassociated itself from the purported Government in Exile, stating that its leader, Mazi Nnamdi Kanu has not set up such government.
The group described those claiming to be behind such government as fraudsters on jamboree, urging governments across the world to disregard them.
In a statement by its Media and Publicity Secretary, Emma Powerful, IPOB explained that it has legitimate, well established and structured administrative hierarchy that oversees day-to-day running of Biafra affairs.
It accused former Deputy to its leader and those it termed expelled dissidents of taking advantage of absence of its leader to “sell the Biafra struggle to our enemies”, insisting they had failed woefully.
The statement reads: “We wish to reiterate once again to Biafrans, friends of Biafra and lovers of freedom across the globe that IPOB led by Mazi Nnamdi Okwuchukwu KANU has not set up any Government In Exile (GIE). We, therefore, dissociate ourself completely from the purported Government in Exile.
“IPOB has legitimate and well established Institutions and well-structured administrative hierarchy that oversees the day- to-day running of Biafra affairs. Already, all Diplomatic Missions and countries of the world know about Biafra agitation and they communicate with IPOB as the responsible authority that overseas the affairs of the Biafran people be it Nationally or Internationally.
“IPOB has international contacts and connections not through any worthless Government In Exile but through our established Institutions and Structures . So, anybody or group peddling or claiming to have set up Government In Exile has again embarked on a jamboree like those who came before them claiming to have formed a government in Exile at one point in time.
“They simple do not deserve to be given any attention because this is the avenue that the Nigerian government wants to us to water down our agitation for total freedom.
“We are not unaware that some dissidents expelled from IPOB including a former Deputy to our Leader had once suggested this Government In Exile to our Leader, Mazi Nnamdi Kanu, but he did not buy into it knowing fully how needless it is at this stage of our struggle.
“But unfortunately, now that our Leader is in detention, these same elements saw it as an opportunity to actualise their selfish ambition by quickly claiming to have set up the non-existent GIE. We know that their ultimate aim is to use it to sell the Biafra struggle to our enemies but they have failed woefully.
We knew that many infiltrators sponsored by some unfortunate politicians are fighting strongly to sell Biafra freedom through their main Infiltrator hiding in Finland. He has run out of gimmicks to stay afloat, hence, he decided to resort to the latest claims of purported GIE gimmick to deceive his gullible followers.
“Therefore, everybody should ignore and disregard the purported GIE because the motive is ulterior and sinister. Biafra has established and recognised channels through which it operates and communicate with world leaders and government without needing or having to call that channel a government in exile.
“One pertinent question to ask is how many government in exile has been formed by different individuals in the past and what become of them. In fact we have lost count of governments in exile formed at different times by impostors.
“These are people whose intention from unset was not actually to secure the liberty and freedom of Biafrans but rather to secure for themselves one form of pecuniary gain or the other albeit economically or political positions.
They are simply not freedom fighters because freedom fighters have no business whatsoever with forming governments whan they have neither secured the freedom of their people nor of their territory. An Igbo adage says (Azotacha ani tutu azowa ute)
“For the avoidance of doubt, the Directorate of State of the Indigenous People of Biafra (DOS) headed by Mazi Chika Edoziem is at the helm of affairs of the Biafra movement whenever our leader Mazi Nnamdi KANU comes out he hands over IPOB structure back to him. The DOS gives letters to our people for asylum and every Government of the world accepts it and grants asylum to such asylum seekers and they communicate IPOB. There is no other Government more than that.
“Since 2007, different groups have always claimed to be Biafra Government In Exile and have done nothing to demonstrate that truly they represent the Biafran people. In 2007, Ralph Uwazuruike of MASSOB formed Government In Exile in Washington DC USA and he could not achieve anything but IPOB having gone extra mile and having solely the well being of Biafrans as its motivating factor as well as ultimate goal has achieved unimaginably humongous results. Rather than pursue the BIAFRA cause with their so-called GIE, the only achievement of the promoters is to build female hostel in Owerri.
“Biafra struggle championed by IPOB led by Mazi Nnamdi Kanu has recorded tremendous achievements that we cannot afford to be taken backwards by retrogressive elements. Biafra already maintains its presence in many countries of the world.
“IPOB defends her people in judicial and humanitarian matters across the world and in different occasions. People should stop supporting and making caricature of the Biafra restoration project by announcing Biafra Government In Exile any time they want to defraud Biafrans or sabotage our course for freedom.
“We urge Governments across the world to disregard and ignore this fraudsters claiming they are forming Biafra Government In Exile. This new wind of setting up another Biafra government in exile is a distraction that should not be given any serious thought or attention as it will soon fizzle out like others before it but it is important that Biafrans and the International community are properly informed thus this need to set the facts straight.”
Brighton claimed a famous first-ever win at Old Trafford as Manchester United suffered a nightmare defeat in Erik ten Hag’s first Premier League match in charge.
After Bruno Fernandes missed an opening chance, Pascal Gross made it the worst possible start for Ten Hag as he finished Danny Welbeck’s cross at the back post to give the visitors a deserved lead.
Though, it quickly turned into a disasterous afternoon as Gross doubled Brighton’s lead after a brilliant team move, while there were boos at half time at Old Trafford
Cristiano Ronaldo was brought on from the bench after being left out of United’s starting line-up and although the hosts were able to pull one back, Brighton held on to celebrate a famous victory that underlined the scale of the task facing Ten Hag
National Parents Teachers Association of Nigeria, NAPTAN, has said they can only beg members of the Academic Staff Union of Universities, ASUU, to call off their strike unless government considers the reports of the various committees set up to look into the matter and come out with its decisions.
The body stated that it expects the Federal Government to come out publicly with its offers for it to know how to intervene and mediate between the two sides.
The National President of ASUU, Prof. Emmanuel Osodeke, said it is subtle blackmail for anybody to insinuate that the union is pushing the government to borrow.
He advised that the government should get its priorities right to solve the impasse and do the needful.
“We are not asking the government to go borrowing. But since the Minister is a Nigerian, he should know what our demands are.
“Our demands include that they implement the Memorandum of Action signed in 202 with us.
“The document says government will release the first tranche of the Revitalisation Fund, pay Earned Academic Allowance, stop proliferation of universities, renegotiate the 2009 agreement among others.
“They have set up a committee to renegotiate the 2009 Agreement and they are yet to come up with anything from the report of the committee they set up.
“I wonder why some people behave as if they are living in another world entirely. Is it because they are occupying public offices that they seem to exist in another planet?” he wondered.
Ossai Ovie, special assistant to the executive governor of Delta state, Ifeanyi Okowa has said that the Presidential Candidates of Labour Party Mr. Peter Obi, and All Progressive Congress (APC) Bola Tinubu are not capable of leading Nigeria as President.
Ossai disclosed this in a statement he posted on his official Facebook page.
According to him, Tinubu doesn’t understand the complexity of Nigeria and Peter Obi cannot offer Nigerians competent leadership.
He said, “Ahead of the 2023 presidential election, we must be careful with the people we give our support.
“We all remembered how we were deceived by the All Progressive Congress APC in 2014 and 2015 and today we are being faced with poverty, and insecurity.
“The rich and the poor are being affected by the ungodly leadership of APC.
“It’s time for us to say no to incapable people as our leaders come 2023.
“We must make the right choice this time around by electing politicians that care about our future .”
“I have known the Presidential Candidate of the Labour Party Sir Peter Obi, All Progressive Congress APC Presidential Candidate Bola Tinubu, and the People’s Democratic Party PDP Presidential Candidate PDP Atiku Abubakar for years.
“Tinubu doesn’t understand the complexity of Nigeria and he doesn’t know Nigeria is a multi-religious state.
“Tinubu doesn’t have what it takes to be Nigeria’s president.
“Peter Obi can’t offer Nigerians competent leadership looking at his antecedents.
“Nigeria as of today is bigger than speaking English.
“Peter Obi is good at speaking English than implementing what has been said.
“Looking at the achievements of Atiku in the past years, it’s morally acceptable for us to say Atiku is more capable, competent, and qualified for the position of Nigeria president.
“Among all the candidates, only Atiku has the needed experience to rescue Nigeria from poverty and insecurity.
“He is the only one ready for the restructuring of Nigeria.
“The combination of Atiku and Governor Ifeanyi A. Okowa of Delta State is what Nigerians need at the moment for the redemption of Nigeria.
“Atiku has the requisite knowledge, experience, and political sagacity of making Nigeria an enviable country.
“We need to support and vote PDP come 2023 general elections,” he said.
Cynthia Okereke, Nollywood screen diva who was recently abducted and released by gunmen, has said her abduction was a mistake, as she was not the target of the kidnappers.
Okereke and a colleague, Clemson Cornell, were kidnapped in Enugu State, and their kidnappers were said to have demanded a ransom of $100,000.
In an interview with Sunday Scoop, Okereke said, “They told me I was not the one they were looking for. They stated that since they could not get who they originally wanted, they had to take me. It was a coincidence.”
She also stated that contrary to some reports, a ransom was paid before she was released. She said, “It is a lie.”
Asked how much was paid to secure her freedom, the actress said, “That is what I won’t tell you, but a ransom was paid. I don’t want it to go viral but ransom was paid. My husband was the one who took the ransom to Ngwa in Abia State.”
While narrating her experience in the kidnappers’ hideout, she said, “They did not give me anything. For the first two days I was there, I was not given any food. It was on the third day they gave me milk and a malt drink. Because my stomach was empty, I knew that I would vomit if I took it, so I declined.”
Asked if the kidnappers recognised her as an actress, Okereke said, “When they captured us at Centenary Junction in Enugu, they said, ‘Cynthia Okereke, you think we don’t know you’? So, I asked them what they wanted and pleaded that they should take my car when they shot into the air. They said they did not need the car.”
On how they were transported to the criminal’s lair, the actress said, “We were wrapped with a trampoline and taken to an unknown destination. It was the following morning that one of them asked me if I know where I was. I said I didn’t no, and told me we were in Ebonyi State.”
Recalling some of the things the kidnappers told her while in their camp, she said, “They said Nollywood is not supporting Nnamdi Kanu (founder of the Indigenous People of Biafra), that we should come out en masse to support him. According to them, ‘Kanu is fighting for every one (Igbo people).”
Meanwhile, when Sunday Scoop put a call through to the other kidnapped actor, Clemson Cornel, the person who answered the phone stated that he was receiving treatment in the hospital.
The Katsina Police Command on Saturday raided terrorists’ hideouts at tandama village in Danja Local Government Area and rescued six kidnapped victims
A statement by the Command spokesman, Superintendent Gambo Isah, said the raid of the terrorists’ hideouts was based on credible intelligence
He said, “On Saturday 6/08/2022 at about 0530hrs, based on credible intelligence, the Command raided terrorists hideouts at Unguwan Dako, Tandama village, Danja LGA and succeeded in rescuing 6 kidnapped victims’’
‘’They are: Alhaji Garba Dan Mallam, M,52 of Unguwan Nuhu, Danja LGA ,Rabiu Idris,45 of the same address, Abba Samaila, 38,Yunusa Sani, 54 of Layin Sani village, Kafur Ishaq Yakub, 40,Danjuma Samaila, 45,all of the same address.”
In a related development, an unconfirmed report by some members of Safana community indicated the bombardment of a terrorist camp by the Nigerian Air Force NAF at Safana Local Government Area of Katsina State on Saturday evening which led led to the decimation of a terrorist leader, Abdulkarim Faca-faca.
Also eight other suspected terrorists’ gang members were killed in during the NAF raids, while some other terrorists fled the area with bullets wounds during the mop-up operations.
The wife of the presiding Bishop of Living Faith Church, Pastor Faith Oyedepo, has urged winners to be obedient in the affairs of the Kingdom (of God).
On his part, the husband, Bishop David Oyedepo, said obedience is better than sacrifice.
The couple spoke at the church’s monthly leadership conference.
The declarations however, were interpreted as an indirect endorsement of the presidential candidate of the Labour Party for the 2023 general elections, Peter Obi.
Recall that Obi’s supporters have been campaigning under the alias ‘Obi-dients’.
Meanwhile, Peter Obi last month visited Oyedepo at his Ota-based church after which photos from the visit went viral as supporters shared them on social media.
Oyedepo’s wife, while citing Isaiah 1:19-20, stressed the need for Christians to be obedient to spiritual instructions to enjoy the good of the land.
Her words: “If ye be willing and obedient, ye shall eat the good of the land: But if ye refuse and rebel, ye shall be devoured with the sword: for the mouth of the Lord hath spoken it” (Isa. 1:19-20).
She urged the church to pray for God’s Spirit to serve and be obedient.
In his own sermon, Bishop Oyedepo, while unravelling the mystery of the covenant of obedience, said: “To be obedient is better than sacrifice. Obedience may be costly but the end result is always priceless.
“When you live your life as a seed, its impact lives for generations after you”.
Bandits have killed two members of a local vigilante group and abducted a newlywed couple and other residents of Shola Quarters in Katsina metropolis.
According to residents, bandits invaded the area around 1:25am and operated for over an hour.
One of the sources said, “It was the vigilante members that even confronted the bandits but in the process two of them were killed and two others wounded.”
He explained that the vigilante members had to retreat for their safety when the bandits overpowered them.
He said it was later that one of the deceased body was retrieved while the other was rushed to the hospital where he died, adding that the wounded ones were receiving treatment at the hospital.
A relative of the abducted newly-wed, Usman Masanawa, explained how they were kidnapped, saying when the attackers came, the husband, Yusuf Bishir, had called to inform him but there was nothing he could do.
“We went there this morning; the bandits did not even enter the house through the entrance gate but they smashed the wall and got access into the house,” Masanawa said.
He added that the number of residents abducted could not be ascertained but other residents said some houses were attacked and people abducted.
When contacted, police spokesperson in the state, Gambo Isa, who responded via WhatsApp message, said officers were on operation (on the matter) and will communicate with details later.
In a related development, bandits have abducted 13 people from Natsinta village, in Jibia local government area, which a few hundred metres from the army barracks in Katsina.
A resident, whose uncle and two of his children were abducted, said the bandits earlier abducted 26 people but when they got to where they parked their motorcycles, they took 13 with them and left the others.
The gubernatorial candidate of Peoples Democratic Party, PDP, in Jigawa State, Mustapha Sule Lamido, has promised to remodel the almajiri education system in the state if elected as governor in 2023.
Mr Lamido, son of former governor of the state, Sule Lamido, stated this in an article titled; My Vision for Jigawa State (lV).
According to him, if he assumes office, he would take inventory of all Almajiri schools and Tsangayas and have a census of the students and teachers, known as alarammas.
He promised to form a technical committee comprising the alarammas, ministry of education staff and some experts that will come up with a sound and sustainable policy for the Tsangaya system.
“Already, we have some existing ideas and structures developed by ex-president Goodluck Jonathan which states like Sokoto have built upon. Internationally, I have personally studied the Malaysian remodeled Almajiri system which has been working excellently; we also have some remodeled systems in some parts of West Africa.
“I will feed the policy formulation committee with some of these findings, so that our aim of having a reformed, rebranded, working and sustainable Almajiri system can be achieved,” he said.
Mr Lamido also revealed that teachers’ welfare would be top-most priority of his administration, adding that his government, if elected, would improve the condition of service for education personnel.
“We will study and review the teachers salaries with the hope of increasing it to the highest amount possible and permissible by the economic situation.
“God willing, we will create allowances to motivate them and create a reward system to appreciate the best and most dedicated teachers in the state.
“We will train and retrain them to further their education while making the necessary learning tools and equipment available for their utilization Insha Allah. We shall create an avenue for periodic teacher-government engagement where operational successes and challenges of education will be discussed.
“We will use information in such engagements to take swift action where necessary and make adequate plans where applicable,” he promised.
The crude oil production in Nigeria has decreased in July to an average of 1.08 million barrels per day (bpd) from 1.16 million the previous month.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said this in its latest crude oil and condensate production data for July 2022.
The report shows a 6.42 percent decrease from June’s production figures.
With the addition of condensate, oil output in July grew to a total of 1.31 million bpd from 1.40 million posted last month.
Condensate is a mixture of light liquid hydrocarbons, similar to a light (high API) crude oil — usually separated out of a natural gas stream at the point of production (field separation) when the temperature and pressure of the gas are dropped to atmospheric conditions.
In January, February, March, April, and May, the country’s crude oil production averaged 1.39 million bpd, 1.25 million bpd, 1.24 million bpd, 1.22 million bpd, and 1.02 million bpd, respectively.
Nigeria has consistently failed to meet the 1.8 million bpd production quota set by the Organisation of Petroleum Exporting Countries (OPEC).
A suspected member of the Eastern Security Network (ESN) has confessed to have killed four persons.
In a video currently trending online, the suspect, who identified himself as Chukwuma (a.k.a. Fifty) said he hails from Umuhu village in Ukpor, Nnewi South Local Government Area of the state.
Chukwuma while being interrogated by security operatives, explained how the gang recently killed a female police officer and her husband in Ukpor, and how they killed two other policemen in Ozubulu, Ekwusigo Local Government, among other murders and heinous crimes they have committed.
He confessed to have killed only four persons, among whom were two police officers.
According to him, the policewoman in Ukpor was killed by Double Lion, another member of the gang, working on information supplied by one Evan, who told them that the policewoman was a saboteur and was giving security operatives information to track them; hence their decision to gun her down.
“Fifty” and some members of his gang were arrested on Friday when security operatives invaded their hideout in a forest in Ukpor, Nnewi South headquarters
Items recovered from camp include coffin, military uniforms, empty bottles of beer, as well as assorted arms and ammunition, among other incriminating items and exhibits
A 500-level student of the Michael Okpara University Of Agriculture Umudike, MOUAU, Abia State, identified as Modestus Hyacinth Egbulefu,has committed suicide after taking hard drug in Ikwuano council area ,Abia State.
Egbulefu, who is a student of the Department of Electrical/Electronic Engineering was said to have jumped from the 3 storey building identified as Groom Base Lodge,after allegedly taking some substances suspected to be ”Mkpulu mmiri.”
The incident which occurred at about 9:40am at the lodge as other students were shocked at the incident and tried in vain to revive him.
Sources told Vanguard that he died on the spot before he could receive medical attention.
Vanguard further gathered that his corpse has been deposited at an undisclosed mortuary in the area.
As at the time of filing this report,efforts to get the reaction of the Police Public Relations Officer ,Abia State Command,SP Geoffrey Ogbonna, was unsuccessful as he was yet to respond to a call and text message sent to his mobile number.
All the abducted passengers in the Abuja-Kaduna bound train which was attacked early this year by terrorists would have regained their freedom if their abductors had not reneged on an agreement they had with the Federal Government.
According to PRNigeria, there was an agreement between the government and the leadership of the terror group behind the attack to swap the abducted train passengers with some arrested terrorists held in detention by Nigerian security agencies.
PRNigeria quoting a highly-placed source in one of the intelligence agencies in Abuja said that the government took every possible step, but not including ransom payment to secure the release of the train hostages.
The source, who declined to give his name explained that the government adopted a swapping deal for the rescue of the train victims to avoid likely collateral damages from military operations.
According to him, the security service in an exchange programme released at least about 30 detained family members of terrorists, mostly women and children.
“In fact, a spouse who delivered twins in custody safely was handed over to her parents,” he said.
But rather than abiding by the swapping deal agreement, the terrorists, the source said, reneged and only released eleven passengers instead of all the 63 kidnapped victims
He said: “Apart from reneging on the agreement, they were releasing victims in batches in the most dubious and compromising manner.
“They are now exploiting the situations to extort victims’ families for ransom payments, while other elements are exploiting the same for political gains.
“They are aware that we have the exact coordinates of their locations but we are not authorised to strike because of the fear of collateral damages that could trigger massive outcry by human rights activists and even the media if we succeed in doing so,” the source concluded
President Muhammadu Buhari addressing APC members at the National Convention held at Eagle Square in Abuja
President Muhammadu Buhari has reiterated his unequivocal condemnation of the attacks against non-indigenes and law enforcement officials by terrorists in the South East, promising all possible action in conducting a speedy investigation to bring the perpetrators to justice.
President Buhari’s reaction came amidst reports of the slaying of six Nigerien citizens and the brutal killing of a number of policemen at their duty posts, urging community and religious leaders to speak more forcefully against the killings, stand up and defend the ethos of our cultural and religious heritage.
“Those who know should point at specific people who did this.”
He expressed his administration’s unwavering commitment to peace and stability in the southeast and the entire country, saying that the reports of killings anywhere were sad and unwelcome.
He offered his condolences to the families of the law enforcement agents murdered and to the government and people of Niger Republic whose citizens were cruelly beheaded by the beastly attackers.
The federal government has confirmed that the Central Bank of Nigeria (CBN) is being owed N20 trillion ($47 billion), which is yet to be added to the country’s outstanding public debt, according to a report by the Budget Office of the Federation. This is coming as a think-tank backed by the Bill & Melinda Gates Foundation is seeking $50 billion in aid to help debt-ridden African countries re-enter capital markets and avoid future defaults.
The debt figure was as of March 31, the Budget Office said, in a document, which gave the details of the country’s expenditure plans from 2023-2025.The document was posted on the Budget Office’s website at the weekend.Nigeria’s outstanding public debt is N41.6 trillion.
Even with the additional obligations, the country remains “within Nigeria’s self-imposed” limit of 40 per cent debt to Gross Domestic Product (GDP), according to the report quoted by Bloomberg.The government plans to securitise its Ways and Means Advances (WMAs) from the CBN and revamp “it into a longer tenor amortising facility with a lower interest rate,” according to the Budget Office.
The country barely earned enough revenues to cover debt service payments in 2021, according to the budget office while in the first four months to April, government income of N1.63 trillion was less than the N1.94 trillion needed to cover debt-service payments, Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed said, according to a presentation on the budget office’s website.
While the debt portfolio remains vulnerable to revenue and export shocks, “the challenges are being addressed by the government through its ongoing strategic revenue growth initiatives,” the report added.Meanwhile, a think-tank backed by the Bill & Melinda Gates Foundation is seeking $50 billion in aid to help debt-ridden African countries re-enter capital markets and avoid future defaults.
The amount is an “average estimate,” said the President of the Paris-based Finance for Development Lab, which was launched last month, Daniel Cohen.Cohen, who is also President of the Paris School of Economics, said the money would be used to “enhance” credit quality by providing guarantees and helping African commodity exporters and importers hedge against price volatility.
Some African countries, which hit capital markets as global interest rates plunged to a record low, are on the verge of default due to the economic impact of the COVID-19 pandemic and Russia’s invasion of Ukraine, Bloomberg reported.Sovereign dollar bonds from African countries trade on average at 1,007 basis points above the US Treasury yield, meeting the widely accepted definition of a debt crisis.
The laboratory, which develops the proposals and wants an established body to hold the facility, includes representatives from the Steering Committee of the United Nations Economic Committee for Africa and think tanks from Santiago and Accra to New Delhi. World Trade Organisation (WTO) Director-General Ngozi Okonjo-Iwela attended its launch, the report said.
The Gates Foundation provided $2.6 million in September 2021 to start the project, the Bloomberg report recalled.“Last year, we interacted with passionate thinkers from the Paris School of Economics who brought new ideas and energy to the funding debate – from Francophone Africa to the Paris Club to the private sector,” the foundation said in a response to questions.
“We jointly thought of a new organisation with the vision of creating an engaged community of think tanks and research centres that could help provide innovative, yet practical and evidence-based proposals meeting today’s financial challenges,” it added.Cohen said he had begun talking to politicians, including French leaders, about contributions to the fund, noting that the contribution could come in the form of International Monetary Fund (IMF) special drawing rights.
The lab is proposing rolling interest-payment guarantees and loan-restructuring and facilitation facilities to provide cash “sweet” to creditors to cut the length and cost of restructuring negotiations, a document said.
Cohen said such a mechanism is necessary to help countries re-enter the market.“Either they are locked out of the market or they can re-enter, provided they are enhanced by some sort of guarantee. Such a mechanism would be needed to restore access to the market. There will be a lot of restructuring in the coming years. Some cash can be a big advantage,” Cohen stressed.The alternative is that countries locked out of capital markets will have to rely on grants and multilateral development banks for their financial needs, he explained.
The lab is also offering protection against commodity volatility by guaranteeing margin call payments triggered by rising prices, explaining that the laboratories also plan to develop relationships with Chinese academics as many African countries are indebted to China.“We are thinking of a parallel group of Chinese scholars thinking about the role of China’s main creditor in Africa,” he said.
Nigerian prolific athlete, Tobi Amusan has set a new record by winning the 100 meters hurdles gold at the Commonwealth Games in Birmingham, the United Kingdom.
The 25-year-old clocked 12.30 seconds to set a new games record.
This is coming two weeks after she became the first Nigerian athlete to win a World Athletics Championship gold as she stormed to victory in the women’s 100m hurdles in Oregon.
Amusan, who had obliterated the world record in an astonishing semi-final where she clocked 12.12sec, powered over the line at Hayward Field in 12.06sec.
Her winning time will not be recognised as a world record, however, due to a strong following win of 2.5 meters per second.
Jamaica’s Britany Anderson took silver in 12.23sec, while Olympic champion Jasmine Camacho-Quinn of Puerto Rico claimed bronze in 12.23.
Amusan had produced a jaw-dropping world record in the semi-finals, smashing the previous best mark of 12.20secs held by Keni Harrison of the United States in 2016.
“Honestly, I believe in my abilities but I was not expecting a world record at these championships,” Amusan said after her final victory. “The goal is always just to execute well and get the win. So the world record is a bonus. I knew I had it in me but I could not believe it when I saw it on the screen after the semis.
“Before the final, I just tried to stay calm and to do my best. I took a deep breath knowing that I have some goals to accomplish and it worked pretty well. I knew it was very fast but not this fast.”
Chief Oladipo Oladosu, an ally of the presidential candidate of All Progressive Congress (APC) Asiwaju Bola Ahmed Tinubu has said former Vice President, Atiku Abubakar lacks the capacity to become President in 2023.
He said Atiku did nothing in eight years as vice president except the roles assigned to him by the then President Olusegun Obasanjo.
Speaking in Ibadan on the chances of APC candidate in the 2023 Presidential elections, Oladosu, the National President of Yoruba Patriots Movement (YPM), said Tinubu would win with 70 per cent with others sharing the remaining 30 percent.
He noted that Atiku is not worthy of being President looking at his pedigrees and antecedents.
He claimed Atiku has never mentored or made anybody, urging Nigerians not to vote for a “useless spare tire.”
Reacting to recent endorsement of the Presidential candidate of Labour Party (LP), Peter Obi by leader of Yoruba Socio-cultural organisation, ‘Afenifere’, Chief Ayo Adebanjo, Oladosu said Adebanjo’s endorsement was not the true representation of the Yorubas.
He said: “Politics is full of intrigues, opposition are just using religion to bring Tinubu down for their own personal gain against the development of the nation.
“Nigeria Constitution is clear, it doesn’t matter either you are a Christian or Muslim, what matters most is the capability of who become President of the country.”
Pan-Igbo socio-political pressure group, the South East Revival Group (SERG) has called on the Federal Government of Nigeria to immediately comply with the resolutions of the United Nations, UN Human Rights Council Working Group on Arbitrary Detention, on the detained leader of the Indigenous People of Biafra (IPOB), Mazi Nnamdi Kanu to avert a fresh war front amid the current insecurity in most parts of the country.
The UN had recently indicted both Nigerian and Kenyan Governments for the extraordinary rendition, torture and continued detention of the IPOB leader without due process.
Consequently, the UN resolved and recommended to the Federal Government to immediately release Kanu unconditionally.
In a statement signed by the President and National Coordinator of the SERG, Chief Willy Ezugwu, the group urged the Federation Government to be responsible and reasonable in handling the recommendations of the UN as part of the bitter pills Nigeria must take to reduce armed struggle in the country.
“For the United Nations to ask the federal government to pay adequate compensation for the arbitrary violation of the fundamental human rights of Nnamdi Kanu, it then becomes clear that the world body has found grave infractions in the process of rendition and detention of the IPOB leader.
“The President Muhammadu Buhari administration must be proactive enough to immediately free Mazi Nnamdi Kanu and open a channel for addressing the root causes of the renewed Biafran agitations in the South East in the general interest of peace, security and national integration.
“The Federal Government must learn lessons from the unfortunate but avoidable insurgency in the North East, which has spread to other parts of the country, and escalated as a result of the arbitrary killing of the Boko Haram founder, Mohammed Yusuf.
“The Peoples Democratic Party (PDP) government, rather than arresting and prosecuting the extrajudicial killers of Yusuf and opening a window for dialogue to address the remote causes of their uprising, ignored the group until it grew into a monster terrorising most parts of the country from 2009 to date.
“The sense of injustice on the part of the followers of Mohammed Yusuf was the singular cause of the now widespread insurgency in the North East of Nigeria, consuming a reasonable chunk of the country’s national budget with attendant loss of lives and property. Such security miscalculations should and must be avoided in all parts of the country.
“We therefore call on President Muhammadu Buhari to immediately order the unconditional release of Mazi Nnamdi Kanu and open a channel for dialogue with aggrieved citizens, not only in the South East but across the country, in order to find lasting peace in the country.
“This has become expedient as the Nigerian security forces will eventually be overwhelmed if avoidable war fronts are opened in all parts of the country, which will be inimical to national peace and development”, the SERG said.
The FirstBank’s Firstmonie Agents play a critical role in promoting financial inclusion in the country
The Bank currently has over 180,000 Firstmonie Agents spread across 772 Local Government Areas in Nigeria
Since 2020, FirstBank has economically empowered thousands of its Firstmonie Agents with over 100 billion naira credit facility
First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider has announced that its agent banking network – Firstmonie Agents – spread across the nook and cranny of the country has collectively processed transaction volume in excess of 1 billion, amounting to over 22 trillion naira.
The Bank currently has over 180,000 Firstmonie Agents, spread across the country’s 772 Local Government Areas.
Firstmonie Agents have been integral to bringing financial services closer to the underbanked and unbanked segment of the society, providing convenient banking services that are easily accessible, thereby saving time and travel costs for individuals in the suburbs and remote environments with no access to financial services.
Popularly referred to as the ‘Human ATM’, Firstmonie Agents are empowered to reduce the reliance on over-the-counter transactions while providing convenient personalized services. Amongst the services carried out by the Agents include; Account Opening, Cash Deposit, Airtime Purchase, Bills Payment, Withdrawals and Money Transfer.
Through various empowerment and reward schemes implemented to put its Firstmonie Agents at an advantage to economically impact their immediate communities whilst importantly having their business sustained, the Bank’s Agent Banking scheme has remained a toast to Nigerians, irrespective of where they are in the country.
Amongst these schemes is the Agent Credit – launched in 2020 – which has had the Bank provide credit facilities to the tune of 238 billion naira to its teeming Firstmonie Agents.
Expressing his appreciation to the Firstmonie Agents, Dr. Adesola Adeduntan, CEO, FirstBank said “since the relaunch of our Agent Banking scheme in 2018, our Firstmonie Agents have played a vital role in bridging the financial inclusion gap in the country, as many more people have been able to undertake various financial and business transactions in cost-effective ways, thereby saving a lot of time and money in travelling over long distances for basic banking services.“
“We are delighted by the giant strides of our Firstmonie Agents in promoting financial inclusion and commend them for their efforts in taking banking to the doorsteps of Nigerians – irrespective of where they are – in a very effective way”, he concluded.
About FirstBank
First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa and the leading financial inclusion services provider in Nigeria for over 128 years.
With over 750 business locations and over 150,000 Banking Agents spread across 99% of the 774 Local Government Areas in Nigeria, FirstBank provides a comprehensive range of retail and corporate financial services to serve its over 30 million customers.
The Bank has an international presence through its subsidiaries, FBNBank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, as well as a Representative Office in Beijing.
The Bank has been handy at promoting digital payment in the country and has issued over 10million cards, the first bank to achieve such a milestone in the country.
FirstBank’s cashless transaction drive extends to having more than 10 million people on its USSD Quick Banking service through the nationally renowned *894# Banking code and over 4.5 million people on FirstMobile platform.
Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership.
Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes.
With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner.
FirstBank has been named “Most Valuable Bank Brand in Nigeria” six times in a row (2011 – 2016) by the globally renowned “The Banker Magazine” of the Financial Times Group; “Best Retail Bank in Nigeria” for seven consecutive years (2011 – 2017) by the Asian Banker International Excellence in Retail Financial Services Awards and “Best Bank in Nigeria” by Global Finance for 15 years.
Our brand purpose is always to put customers, partners and stakeholders at the heart of our business, even as we standardise customer experience and excellence in financial solutions across sub-Saharan Africa, in consonance with our brand vision “To be the partner of the first choice in building your future”.
Our brand promise is always to deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on our inherent values of passion, partnership and people, to position You First in every respect.
Folake Ani-Mumuney Group Head, Marketing & Corporate Communications First Bank of Nigeria Limited
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Gallant Troops of Operation Hadin Kai on Friday killed six terrorists and repelled terrorist’s attack on Monguno and the military formation in Abbari Kasuwan Shani in recent encounters in Borno state
According to Vanguard , it was learnt that the troops successfully repelled the attack by Boko Haram/ISWAP terrorists and eliminated scores of them in Monguno, in the North East of Borno state.
The terrorists had invaded the town in large numbers at about 8:30 pm with gun trucks, motorcycles and heavy weapons and began to shoot sporadically in the air.
However, troops and other security agencies mobilized and engaged the fighters in a gun battle which lasted till 11:30pm resulting to heavy casualties on them.
Sources said that troops had earlier repelled a similar attack on the town on Thursday night at about 2am when the terrorists attempted to attack a Military formation in Abbari Kasuwan Shani.
A Counter Insurgency Expert and Security Analyst in the Lake Chad, Zagazola Makama who confirmed the development, said the troops who were already alerted of the terrorists movement engaged them and killed six of them while others escaped with bullets wounds.
