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Tinubu signs Investments, Securities bill into law

Ehime ALEX
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Tinubu signs Investments, Securities bill into law

PRESIDENT Bola Tinubu has signed into law the Investments and Securities Bill (ISB) 2025.

The bill repeals the Investments and Securities Act No. 29 of 2007 and enacts the Investments and Securities Act (ISA) 2025.

The Securities and Exchange Commission (SEC) made this known in a statement by its  external relations officer, Efe Ebelo, on Saturday, March 29.

It said the legislation would strengthen the legal framework of the Nigerian capital market, enhance investor protection, and introduce critical reforms to promote market integrity, transparency, and sustainable growth.

According to SEC, the enactment of the ISA 2025 reaffirms the authority of the SEC as the apex regulatory authority of the Nigerian Capital Market as well as to regulate the market to ensure capital formation, the protection of investors, and maintenance of fair, efficient and transparent market and reduction of systemic risks.

It also introduces transformative provisions to further align Nigeria’s market operations with international best practices.

“The Act enhances the regulatory powers of the SEC in a manner comparable with benchmark global securities regulators. These enhanced powers and functions ensure full conformity with the requirements of IOSCO’s Enhanced Multilateral Memorandum of Understanding (EMMoU), enabling the SEC to retain its “Signatory A” status and enhancing the overall attractiveness of the Nigerian capital market,” SEC’s Director General, Emomoitimi Agama, said.

Other notable provisions of the ISA 2025 include the classification of exchanges, the inclusion of provisions on financial market infrastructures, and the expansion of the definition and understanding of securities, he said.

Agama pointed out that the Act explicitly recognises virtual/digital assets and investment contracts as securities and brings virtual asset service providers (VASPs), digital asset operators (DAOPs) and digital asset exchanges under the SEC’s regulatory purview.

“Comprehensive Insolvency Provisions for Financial Market Infrastructures – The Act introduces provisions that exempt transactions facilitated through or otherwise involving Financial Market Infrastructures from the application of general insolvency laws. Management of Systemic Risk – The Act introduces provisions for the monitoring, management and mitigation of systemic risk in the Nigerian capital market.

“Expansion of the Category of Issuers to the Public- The Act expands the categories of issuers, as a key step towards the introduction of a wide range of innovative products and offerings as well as the facilitation of “commercial and investment business activities”, subject to the approval of the Commission and other controls stipulated in the Act,” he explained.

The Act contains a new part which provides for the regulation of commodities exchanges and warehouse receipts necessary for the development of the entire gamut of the commodities ecosystem.

On the issuance of securities by sub-nationals and their agencies, the SEC boss said salient provisions of the Act addressed existing restrictions in respect of raising funds from the capital market to allow for greater flexibility.

The Act also introduces the mandatory use of legal entity identifiers (LEIs) by participants in capital market transactions to improve transparency in the conduct of securities transactions and expressly prohibits Ponzi Schemes and other unlawful investment schemes, while prescribing stringent jail terms and other sanctions for the promoters of such schemes.

To strengthen the Investments and Securities Tribunal (IST), the Act amends some key provisions in the repealed ISA 2007 pertaining to the composition of the tribunal its constitution, qualification, and appointment of the chief registrar as well as the tribunal’s jurisdiction.

This is to enhance the ability of the tribunal to optimally discharge its mandate, Agama pointed out.

“By addressing regulatory gaps and introducing forward-looking provisions, the new Act empowers the SEC to foster innovation, protect investors more efficiently and reposition Nigeria as a competitive destination for local and foreign investments,” he added.

The Senate had on Wednesday, December 4, 2024, passed the bill on the floor of the chamber, The ICIR reported.

Wife of former Rivers HoS raises alarm over husband whereabouts

Bankole ABE
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Wife of former Rivers HoS raises alarm over husband whereabouts

FLORENCE, the wife of the former Head of Service (HoS) in Rivers state, George Nwaeke, has raised an alarm over the whereabouts of her husband.

In an interview on Channels TV late Friday evening, Florence told journalists she was afraid for her husband’s safety and had no idea where he was.

Florence, who looks very disturbed in the video, called on Nigerians for help in locating her husband.

“He said there was nothing like N15 billion; and he is not aware; that he is just head of service and doesn’t know anything about the finances of the state. So, when they pressured him to sign a document, he said he would not sign; instead, he will resign, and he resigned.

“Oh, Jesus, help me. Nigerians, help me. My husband is in trouble. My husband is in trouble. My husband is in trouble. Look at the message I sent to him,” she said.

Florence’s cry for help came after her husband’s interview, where he made some serious allegations against suspended Rivers Governor Siminalayi Fubara.

He claimed the governor was planning to back Bauchi State Governor Bala Mohammed in the 2027 presidential election and even accused him of meeting with militants to orchestrate attacks on oil facilities and other assets.

Meanwhile, Fubara, in a response to Nwaeke’s claims late Friday, suggested that the former HoS may have been paid or coerced to have made the “false” claims against him.

“The truth is that Nwaeke has been compromised, and whatever he is saying is only aimed at fulfilling his promise to those who may have paid or coerced him to lie against me,” Fubara said in a statement he issued late Friday.

Fubara shared screenshots of chats between Nwaeke and his Chief of Staff, Ederson Ehie.

The chats reveal that Nwaeke asked Ehie for money and support, promising loyalty in return. He claimed his N500,000 salary was insufficient for his needs.

The ICIR reported that Nwaeke’s resignation as HoS was announced in a statement Tuesday morning by the Chief of Staff to the Sole Administrator, Ibok-Ete Ibas.

Meanwhile, Ibas appointed Ibibi Worika, a professor, as the new secretary to the state government (SSG).

The ICIR reported that President Bola Tinubu declared a state of emergency in Rivers State on Tuesday, March 18.

The declaration followed political turbulence in the state.

In a nationwide broadcast, the president suspended Fubara; his deputy, Ngozi Odu; and all the state assembly members for six months.

However, he retained the state judiciary.

Tinubu blamed the governor for allowing the political crisis in the state to escalate.

He added that the declaration did not affect the state judiciary, which he said must continue to function by its constitutional mandate.

The political crisis in the state climaxed on Monday, March 17, when the House of Assembly served Fubara and his deputy a notice of gross misconduct, which could lead to their impeachment.

The House members, who have been at loggerheads with the governor, claimed the accusation was in tandem with the Nigerian constitution.

The lawmakers accused Fubara of misusing public funds, obstructing the assembly, and making unauthorised appointments without proper screening and confirmation.

Recall that the power struggle between the governor and the Amaewhule-led Assembly reached its peak after the Supreme Court’s judgment, which ordered the Central Bank of Nigeria and the Attorney General of the Federation to withhold Rivers State’s statutory allocation.

It also annulled the recent local government election conducted in the state by Fubara.

Fubara and Wike have been at loggerheads over who controls the soul of the oil rich state.

MRS Oil exits Nigerian stock market

Ehime ALEX
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MRS Oil exits Nigerian stock market

MRS Oil Nigeria Plc said it had concluded plans of voluntarily delisting all its issued shares from the Nigerian Exchange Limited (NGX).

The oil firm said in a notification to shareholders and the investing public on Friday, March 28.

This will stop MRS shares from being traded on the floor of the Nigerian stock exchange.

According to the company, it has subsequently requested admission to the NASD OTC Securities Exchange (NASD), where its shares will be trading as unlisted securities.

The ICIR, in April 2024, reported MRS Oi’s plans to voluntarily delist from the Nigerian stock market.

By this action, the oil firm joined the list of companies that have delisted or finalised arrangements for delisting from the NGX.

About seven companies delisted from the exchange in 2023 worth over N264.92 billion, and several others initiated the move to delist in 2024, including Oando Plc, Glaxo SmithKline Consumer Nigeria, PZ Cussons Nigeria Limited, and Coronation Insurance.

Announcing the final arrangement of its delisting, MRS Oil said the decision followed the approvals granted by its shareholders at the Extra-ordinary General Meeting (EGM) held on June 25, 2024.

It noted that its plans to delist its shares from the Nigerian stock market are by applicable regulations.

“The effectiveness of this Payout remains subject to the final approvals of the Securities and Exchange Commission (SEC) and NGX.”

Key terms of the payout or refund of the principal investment to shareholders as approved by SEC include that the company shall comply with NGX regulations by setting aside the necessary funds to settle dissenting and absentee shareholders.

The company’s registrars shall maintain the account for three months, during which eligible shareholders who wish to exit the company may claim their entitlements.

Another condition is that after three months, shareholders who have not opted for the payout shall be migrated to the NASD platform, and any unclaimed funds shall revert to the company.

It added that the registrars shall submit a detailed report to the SEC, listing the shareholders who have exited and have received payment.

In light of the foregoing, shareholders who were absent from the EGM or dissented to the Voluntary Delisting are advised to contact the registrar for their payoff from April 4 to July 4, 2025.

We inherited an institution at a crossroads, says NEITI boss

Ehime ALEX
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We inherited an institution at a crossroads, says NEITI boss

THE Nigeria Extractive Industries Transparency Initiative (NEITI) was at a crossroads when I assumed office, the Executive Secretary, Orji Ogbonnaya Orji, has said.

He made this known at a media press conference held at NEITI House, Abuja on Friday, March 28.

Titled, ‘Strengthening Transparency, Deepening Accountability-the NEITI Journey’, Orji highlighted the challenges the institution had faced as well as the achievements it had made.

He said, “When I assumed office, we inherited an institution at a crossroads. NEITI was grappling with serious operational, institutional, and governance challenges that threatened its effectiveness.”

He disclosed that a functional National Stakeholders Working Group, (NSWG) – a key requirement for sustaining Nigeria’s membership in the global Extractive Industries Transparency Initiative (EITI), was non existent.

“There was the threat of eviction from a rented office space, coupled with an ageing, top-heavy, and disoriented workforce in urgent need of revitalisation,” he said.

Orji identified other challenges to include, financial constraints, stakeholder apathy, and weak institutional capacity as well as poor programme content, policy focus, and declining public confidence.

“Beyond these internal challenges, the global extractive industry was undergoing rapid transformation. Issues such as energy transition, beneficial ownership transparency, contract disclosure, and the implementation of Nigeria’s Petroleum Industry Act (PIA) were reshaping the sector,” he added.

According to him, NEITI needed to adapt not just to remain relevant but to lead the charge for greater accountability in extractive governance.

He, however, noted that since his assumption, the institution has made remarkable achievements.

These include, enhancing industry reporting and public disclosure, improving the scope, quality, and timeliness of NEITI’s industry reports, and expanding its reporting focus to include beneficial ownership, contract transparency, and environmental impacts.

Others are, strengthening stakeholder engagement, deepening civil society and public advocacy, institutional strengthening and workforce development, initiation of a five-year strategic plan (2022–2026), and establishment of the NEITI Data Center Project.

Orji further listed some achievements including the reconstitution of the Inter-Ministerial Task Team (IMTT) and the strengthening of Nigeria’s anti-corruption agenda.

Speaking on environmental liabilities and remediation commitments, he said oil and gas companies must be held accountable for clean-up costs and remediation efforts.

“NEITI will work with NUPRC and the Ministry of Environment to ensure transparency in environmental remediation funds,” Orji stated.

He said, “Despite these, institutional constraints, funding limitations, and resistance to change must be continuously addressed.”

He assured that moving forward NEITI would deepen beneficial ownership disclosures, strengthen revenue tracking and contract transparency, and ensure full implementation of extractive sector governance reforms.

“Transparency is not just a policy; it is a responsibility. NEITI remains steadfast in ensuring that Nigeria’s oil, gas, and mining revenues are managed for the benefit of all citizens.

“However, achieving this vision requires a collective effort,” Orji said.

Tinubu, Atiku, Obi condemn ‘lynching’ of hunters in Edo State

Bankole ABE
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Tinubu, Atiku, Obi condemn ‘lynching’ of hunters in Edo State

PRESIDENT Bola Tinubu and other prominent Nigerians have condemned the gruesome murder of some hunters who were on transit by an irate mob in Uromi, Edo State.

Tinubu, in a statement by his spokesperson, Bayo Onanuga, on Friday evening ordered a manhunt for the killers.

The ICIR gathered that the victims, who were travelling in a Dangote Cement truck when they were waylaid around 1.30 pm in the Udune Efandion community by local security.

Tinubu, who expressed shock at the dastardly act on Thursday, directed police and other security agencies to conduct swift and thorough investigations and punish the suspected culprits.

The president commiserated with the families of the affected victims and assured them that criminals would not be allowed to shed the blood of innocent Nigerians.

“The President noted that jungle justice has no place in Nigeria, and all Nigerians have the freedom to move freely in any part of the country,” the statement reads.

Also commenting on the incident, a former Vice President and the candidate of the People’s Democratic Party (PDP) in the 2023 election, Atiku Abubakar, said he was deeply saddened by reports of the tragic killing that took place in Edo State.

“My heartfelt condolences go out to their families and loved ones. This unfortunate incident demands a thorough, transparent, and impartial investigation to uncover and ensure that those responsible are brought to book,” he posted on X.

He added that the protection of innocent lives must remain paramount and urged the authorities to act swiftly and decisively to prevent a recurrence of jungle justice.

According to him, justice must not only be done but must be seen to be done to restore public confidence in the nation’s security institutions.

In a post on X regarding the incident, the Labour Party (LP) presidential candidate in the 2023 general election, Peter Obi, stated that the news of the killings of travellers in Uromi, Edo State, is deeply saddening.

According to him, such killings have become a recurring tragedy in our decaying society.

“Acts of violence like these are abhorrent and had no place in our society yesterday, just as they should have no place in any decent society today.

“Every Nigerian, regardless of ethnic or regional background, has the right to move freely and safely within our nation”.

He added that while addressing security concerns and combating criminal activities is crucial, resorting to extrajudicial measures undermines the rule of law and exacerbates the cycle of violence.

He hailed the government for condemning the incident and initiating an investigation and urged the authorities to address the killings of Edo indigenes to ensure that justice is served for all.

The unfortunate killing of the travellers in Edo State has generated outrage on social media, with many calling for a thorough investigation into the ugly incident.

Delta withdraws query issued to nursing student over viral video rejecting Remi Tinubu

Mustapha USMAN
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Delta withdraws query issued to nursing student over viral video rejecting Remi Tinubu

THE Delta State Government has ordered the immediate withdrawal of a query issued to a student of the School of Nursing Sciences, Osato Edobor, following her involvement in a viral social media video during the recent visit of First Lady Oluremi Tinubu to the state.

A statement on Friday, March 28, by the state Commissioner for Health, Joseph Onojaeme, confirmed the directive, emphasising the government’s commitment to protecting students’ rights and fostering a conducive environment in educational institutions.

“The Honourable Commissioner for Health, Dr. Joseph Onojaeme, has directed the immediate withdrawal of the query issued to nursing student Osato Edobor by the Provost of the School of Nursing Sciences, Agbor,” the ministry said in the notice.

The ICIR reported how Nigerians expressed outrage after the state-owned College of Nursing Sciences queried Edobor for recording and posting a video during the visit of Nigeria’s First Lady, Oluremi Tinubu, to the state. 

The query, dated March 27, accused the student of engaging in an “unauthorised online publication” by filming and posting an unofficial response to a song during the First Lady’s arrival at an event in Asaba, the state capital.

“It has come to the notice of the school authority that you, student nurse Osato Edobor on the 25th of March, 2025 during official visit of the First Lady of Nigeria, Senator Oluremi Tinubu, CON at Dome Event Center, Asaba for the Renewed Hope Initiative Health Programme and distribution of 10.000 professional kits (crocs and scrubs) to midwives in each geopolitical zone of Nigeria South South zone, was found to be engaged in malicious act of recording/singing and posting unofficial response to song during the arrival of the First Lady (found on your Tittok Page). 

“This is a punishable offence as enshrined in the student handbook under standardised disciplinary action for some punishable offences No. 8, Page 21,” the memo, signed by the institution’s provost, Evbodaghe Rita Ogonne, read.

Also, addressing the matter in a video message, the state commissioner for health reassured the public that the government had no intention of victimising any student over the incident.

“On the trending letter of query issued to the student of the School of Nursing, Agbor, I’ve instructed the provost to withdraw the letter. We don’t want to victimise any of the students,” he said.

The commissioner added that he had personally reached out to the affected student to notify her of the decision to withdraw the matter.

Police admit officer shot Immigration officer in Niger

Mustapha USMAN
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Police admit officer shot Immigration officer in Niger

THE Niger State Police Command has admitted its officer shot an officer of the Nigeria Immigration Service in Minna, the state capital, recently.

But the command said the shooting was in error and was done to save its team of officers who were under a mob attack.

The admission counters the accusation by the Minister of Interior, Olubunmi Tunji-Ojo, on Thursday, March 27, that a Chinese firm in the state ordered the shooting.

On Friday, March 28, The ICIR contacted to the spokesperson of the Niger State Police Command, Wasiu Abiodun, who confirmed the case.

He explained that the shooting occurred on February 21, 2025, at about 12:30 p.m., when a police surveillance team from A Division, Minna, was patrolling the Obasanjo Complex area.

According to him, officers spotted road construction workers with suspected stolen iron rods. However, on sighting the police, the workers abandoned the rods and fled.

”The police team attempted to evacuate the suspected stolen items, and while in the process, the team was attacked by other reinforced workers and some public urchins with stones and other offensive weapons damaging police patrol vehicle.

“As a result of this, in an attempt to escape being mobbed, the team leader fired a shot which unfortunately hit one female officer of immigration service on the lap who was passing on a motorcycle,” Abiodun said.

He added that the injured officer was rushed to the Specialist Hospital, Minna, for medical attention and that the police team involved has been arrested and detained for disciplinary action.

Similarly, the China Chamber of Commerce in Nigeria has denied that the Chinese firm accused of ordering the shooting by the minister had any links with the shooting.

In a statement on Friday, March 28, the Director-General of the chamber, Cui Guangzhen, dismissed claims that a security officer attached to a Chinese company was responsible for the shooting. 

He said a police officer fired the shot during an arrest operation in Minna, Niger State, on February 21, 2025.

Guangzhen’s response followed remarks by Interior Minister Olubunmi Tunji-Ojo, who condemned the alleged attack on the immigration officer by a guard working with a Chinese firm in Niger State. 

The minister, while condemning the incident at a stakeholders’ sensitisation workshop on the implementation of the Nigeria Visa Policy 2025 in Abuja on Thursday, March 27, described the action as an outright “attack on Nigeria.” 

He vowed to escalate the incident at the highest diplomatic level, adding that such action would not be tolerated.

But according to the chamber, its findings from the Niger State Police Command showed that the officer was struck by a stray bullet fired by the police, not by a Chinese security officer.

“The China General Chamber of Commerce attaches great importance to the reports and carried out an immediate investigation. Based upon the findings of police authority in Niger State, the incident mentioned by the Minister of Interior happened on the 21st of February, 2025 in Minna, Niger State.

“During a police action, the state police force was trying to effect an arrest of some local citizen who was suspected of stealing iron rods from a Chinese company.

“When encountering stiff resistance of the suspect, one of the police officers fired a shot and the bullet accidentally hit a passerby who was later identified to be an immigration officer,” the statement added.

EFCC declares socialite Aisha Achimugu wanted

Bankole ABE
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EFCC declares socialite Aisha Achimugu wanted

THE Economic and Financial Crimes Commission has declared socialite Aisha Achimugu wanted over an alleged case of criminal conspiracy and money laundering.

The EFCC, in a notice released on Friday, March 28, and signed by its spokesperson, Dele Oyewale, said Achimugu, 51, was an indigene of Ofu Local Government of Kogi State.

The anti-graft agency urged the public to provide useful information about her whereabouts.

According to PREMIUM TIMES, Achimugu was summoned by the EFCC on March 5 for alleged money laundering and investment scams.

The invitation letter, dated March 4 and signed by Adebayo Adeniyi, the EFCC’s Acting Zonal Director in Port Harcourt, Rivers State, was sent to Achimugu’s residential address in Abuja.

“This commission is currently investigating a case in which the need to obtain certain clarification from you becomes imperative,” part of the letter reads.

However, instead of reporting to the EFCC, she travelled out of Nigeria. As a result, the EFCC obtained an arrest warrant to declare her wanted, reported Premium Times.

Achimugu is a Nigerian businesswoman who serves as the managing director and chief executive officer of Felak Concept Group, specialising in various engineering fields and offering services like consultancy, maritime operations, and waste management.

Notably, she’s the first female consultant for the development of a deep sea port in South-South Nigeria.

She’s a mother of three and made headlines with her lavish 50th birthday celebration in Grenada, reportedly attended by prominent figures, including Lagos State Governor Babajide Sanwo-Olu.

On Friday, March 21, Achimugu’s media aide, David Abakpa, maintained that she was not under investigation by the EFCC and insisted that she had no issues with the anti-graft agency.

Abakpa said the EFCC was a reputable agency in Nigeria that would not toy with any serious matter on social media before investigating individuals or groups concerned.

He called on media campaigners, which he claimed were sponsored by unknown parties, to back up their claims with evidence.

 

‘Dictatorial’ Delta Nursing School queries student for posting song rejecting Remi Tinubu online

Mustapha USMAN
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‘Dictatorial’ Delta Nursing School queries student for posting song rejecting Remi Tinubu online

MANY Nigerians have expressed outrage after the Delta State College of Nursing Sciences issued a query to a student, Osato Edobor, for recording and posting a video during the visit of Nigeria’s First Lady, Oluremi Tinubu, to the state. 

The query, dated March 27, accused the student of engaging in an “unauthorised online publication” by filming and posting an unofficial response to a song during the First Lady’s arrival at an event in Asaba, the state capital.

“It has come to the notice of the school authority that you, student nurse Osato Edobor on the 25th of March, 2025 during official visit of the First Lady of Nigeria, Senator Oluremi Tinubu, CON at Dome Event Center, Asaba for the Renewed Hope Initiative Health Programme and distribution of 10.000 professional kits (crocs and scrubs) to midwives in each geopolitical zone of Nigeria South South zone, was found to be engage in malicious act of recording/singing and posting unofficial response to song during the arrival of the First Lady (found on your Tittok Page). 

“This is a punishable offence as enshrined in the student handbook under standardised disciplinary action for some punishable offences No. 8, Page 21,” the memo, signed by the institution’s provost, Evbodaghe Rita Ogonne, read.

It further warned Edobor that failure to provide a written explanation within 24 hours could lead to disciplinary action. 

This development has sparked widespread condemnation, with many Nigerians likening the decision to the authoritarian suppression of free speech.

The viral video, sighted by The ICIR, captured students reacting to Remi Tinubu’s visit to the college. 

The students, who sang in unison, rejected Nigeria’s First Lady as their ‘mother’ during the visit.

The viral video showed how the event’s master of ceremony introduced Oluremi Tinubu as “everyone’s mother,” with a song “Na your our mama be this o.”

But the students responded with one voice, “Na your mama be this,” clearly showing their rejection of the president’s wife as their mother.

The students’ firm stand might not be disconnected from the widespread economic hardship, inflation and cost of foods under her husband, President Bola Tinubu’s watch.

Public outcry over school’s decision

Nigerians on social media, particularly on X, have criticised the school’s action, questioning why a student should face punishment for simply recording a public event. 

Messages such as “Nigeria is now under dictatorship,”  “dictatorship at its peak,” and “military regime,” among others, were used to qualify the school’s administration and the Federal Government.

An X user, PapiWata, expressed concern over the attempt to punish the student by the college, noting that a supposed democratic nation is now ‘under dictatorship.’

He wrote, “This is such a big shame…a supposed democratic government is now under dictatorship. 

“Remi Tinubu is not their mother, so why impose an arrogant and rude motherhood to children when they rejected it? You claimed they’ve violated a law…what stupid law is that?”

Another user, Big Daddy, wrote “These people want to silence everyone that have anything to say contrary to what they want. It’s getting worse.”

Also, Arkitek_dave said, “Nigeria would soon turn to a police state where citizens have no rights and institutions.”

This is not the first time Nigerians would be threatened with consequences for posting content related to the Tinubu administration. 

The incident came just weeks after an NYSC member was reportedly threatened by the National Youth Service Corps (NYSC) for calling out President Tinubu on social media.

Uguamaye, popularly known as Raye, went viral after expressing her frustrations over the rising cost of living, stating that the previous N33,000 paid corps members was insufficient to meet basic needs.

She had lamented how prices of essential goods skyrocketed, narrating how the cost of a crate of eggs rose from N800 to N6,500.

Following her comments, Uguamaye claimed she received threats from NYSC officials instructing her to delete her post.

Putin proposes temporary government for Ukraine to hasten peace talks

Nanji Nandang VENLEY
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Putin proposes temporary government for Ukraine to hasten peace talks

RUSSIAN President Vladimir Putin has proposed placing Ukraine under a temporary administration to facilitate new elections and the signing of key agreements aimed at ending the war between the two nations.

Russian news agencies reported early Friday that Putin made the remarks during his visit to the northern port of Murmansk.

The ICIR reports that Putin’s proposal seems to stem from his longstanding claim that Ukraine’s authorities lack legitimacy, given that President Volodymyr Zelensky has remained in power beyond the expiration of his mandate in May 2024.

“In principle, of course, a temporary administration could be introduced in Ukraine under the auspices of the UN (United Nations), the United States, European countries and our partners,” Putin was quoted to have said.

“This would be in order to hold democratic elections and bring to power a capable government enjoying the trust of the people and then to start talks with them about a peace treaty.”

He said that US President Donald Trump’s push for direct talks with Russia, unlike his predecessor, Joe Biden, who avoided such contact, demonstrated Trump’s desire for peace.

“In my opinion, the newly elected president of the United States sincerely wants an end to the conflict for a number of reasons,” he reportedly said.

Putin’s proposal comes amid US attempts to end the conflict by re-establishing links with Russia and engaging with Moscow and Kyiv, in separate talks.

The ICIR reported that the US announced on Tuesday that it had signed separate agreements with Moscow and Kyiv for a ceasefire in the Black Sea, even though Moscow had rejected the proposal for a broader 30-day ceasefire.

However, Russia later said that the pact would take effect only after additional conditions were met, including the lifting of sanctions on a state bank.

Ukraine and European leaders have accused the Kremlin leader of prolonging ceasefire talks without genuinely intending to halt the fighting.

In his latest remarks, Putin said Russia was steadily progressing toward its objectives in Ukraine. He emphasised that Russia supported “peaceful solutions to any conflict, including this one, through peaceful means, but not at our expense”.

“Throughout the entire line of military contact, our troops are holding the strategic initiative,” he said.

Meanwhile, Zelenskiy has dismissed any doubts about his legitimacy, stating that Ukrainian law prohibits elections under martial law and that holding a vote during wartime would be impossible.

Similarly, European leaders are revving their efforts to support Ukraine, pledging after a meeting in Paris on Thursday to bolster Kyiv’s Army and ensuring it remains the foundation of Ukraine’s future security.

The ICIR reported that France and Britain tried to expand support for a foreign “reassurance force” in the event of a truce with Russia, although Moscow rejected any presence of foreign troops in Ukraine.

Since Russia’s invasion of Ukraine in February 2022, thousands of people have been killed or injured, with millions displaced and several cities and towns devastated.

Tensions between Moscow and the West over the war have reached their highest levels in decades.

 

 

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