Home Blog Page 920

I tipped someone 6% to get CBN’s intervention fund – industrialist

Ehime ALEX
-
0
I tipped someone 6% to get CBN’s intervention fund – industrialist

THE chief executive officer of Spectra Industries Limited, Duro Kuteyi, said he had to tip someone six per cent to access a Central Bank of Nigeria’s (CBN) intervention fund, while calling on the incoming government to overhaul the operations of the apex bank “completely.”

Kuteyi, who did not disclose the name of the middleman and amount he accessed from the apex bank’s intervention, said this on Wednesday, May 17, when he appeared on Channels Television’s ‘Business Morning’ programme.

“They said they have intervention funds; please ask the central bank who got the intervention funds and at what rates because someone approached me for six per cent to fill his pocket before I could be assisted to get the intervention fund,” the Spectra CEO said.

He stressed that accessing the fund was “very difficult”, alleging that only  those with enough to pay “extra money” (a sort of bribe) were accessing it, while genuine players in the small and medium-sized enterprises (SMEs) sector could not.

Kuteyi said, “The CBN needs total overhauling to make facilities available to those the facilities are meant for.”

Lamenting that most manufacturers needed to go to the central bank for their foreign exchange needs, the industrialist added, “The CBN does not give us the foreign exchange at the official rate because there is always someone in between, even inside the central bank.

“If we can get at the official rate, businesses will grow, but we can not, so that makes doing business more difficult for manufacturers. But the bureau de change operators are getting foreign exchange.”

But the president of the Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe, told The ICIR that the operators were still looking for options for the survival of their business operations.

Gwadabe recalled that the CBN had, since July 27, 2021, suspended the BDCs from sale of foreign exchange on its window.

“The policy only succeeded in fuelling inefficient informal sectors, multiple exchange rates, loss in investors’ confidence and currency substitution.

“We urge the incoming government to leverage the potent transmission mechanism roles of BDCs to inject liquidity in the retail FX market by securitising diaspora remittances to boost supply and enhance the value of the naira,” he said.

Findings by The ICIR showed that external reserves had fallen to $35.19 billion by May 15, compared to $37.08 billion on January 1, representing a 5.10 per cent drop since the beginning of the year.

“We need to boost our non-oil sector proceeds by increasing the yield of primary products to checkmate our highly volatile commodity terms of trade,” Gwadabe added.

The Spectra boss disclosed that manufacturers had been using their savings to stay in business, hoping the situation would be better.

“If we abandon it now, it will be challenging to return to it,” asserting, “the central bank is not assisting manufacturers.”

Meanwhile, the manufacturing sector shrank for the second month in March at 42.3 points, compared to 44.7 points for February as cash scarcity hit Nigeria’s economy and hampered private sector activity.

This is according to the latest edition of the Stanbic IBTC Bank Nigeria Purchasing Managers Index (PMI), which explained that when read above 50, the index indicates growth, but below that threshold point is contraction.

Kaduna DisCo confirms discussion with NERC, BPE to resolve sanction threat

Harrison EDEH
-
0
Kaduna DisCo confirms discussion with NERC, BPE to resolve sanction threat

THE Kaduna Electricity Distribution Company (KAEDC) said it has commenced discussion with the relevant Federal government agencies to resolve issues about a sanction threat the Nigerian Electricity Regulatory Commission (NERC) had issued it.

The NERC had served the KAEDC a notice to revoke its licence for underperformance.

In a statement the DisCo’s management issued Wednesday, it assured its customers that it was already engaging stakeholders while expressing confidence that with government’s intervention, outstanding issues with the NERC would be sorted out.

While acknowledging awareness of the regulator’s 60-day Notice of Intention to Cancel its operating licence, the KAEDC expressed the hope that its ongoing engagement with the commission, the Bureau of Public Enterprises, lenders, and other stakeholders would address the long-running and current issues at the company.

“We will continue to provide electricity in our Franchise Area – Kaduna, Kebbi, Sokoto and Zamfara States – with the utmost sense of duty and professionalism,” the statement read in part.

The NERC had, in a notice dated May 15, 2023, threatened to revoke the operating licence of Kaduna Electric following its protracted insolvency and inability to discharge its financial responsibilities to the Nigerian Bulk Electricity Trading Plc (NBET) and other stakeholders.

According to the notice, the DisCo had 60 days from the date the notice was served to defend its licence against revocation for underperformance by the Nigerian electricity umpire.

Ministry of Aviation and Aerospace: FG renames aviation ministry

Ijeoma OPARA
-
0
Ministry of Aviation and Aerospace: FG renames aviation ministry

THE Federal Government has changed the name of the Ministry of Aviation to Ministry of Aviation and Aerospace.

The new name was approved by the Federal Executive Council (FEC) at a meeting presided by President Muhammadu Buhari on Wednesday, May 17.

Minister for Aviation Hadi Sirika, who disclosed this to journalists after the FEC meeting, noted that aerospace and aviation are now intertwined due to advancements in the sectors.

He added that the country had to set policies in line with changing times. Already, according to him, some of the policies have been approved by the FEC.

“The Council also approved the draft National Civil Aviation Policy, which is geared towards the strengthening of the civil aviation sector,” Sirika said.

On Tuesday, May 16, the then Ministry of Aviation signed a Memorandum of Understanding (MoU) with Nile University for the establishment of the African Aerospace and Aviation University (AAAU) in Abuja.

According to a statement released by the Ministry, learning in the institution would be both physical and virtual.

The agreement between the two parties allows the AAAU to enjoy research support from Nile University for the first two years of the programme.

“We are glad that in accordance to convention, norm and practice of the Nigerian University Commission, we are partnering with Nile University of Nigeria for support and take off of this University with the core mandate of aerospace aviation and aeronautical science,” Sirika said, after the signing ceremony.

Sirika stated the AAAU would begin offering Bachelor of Science (B.Sc.) degrees in Aviation Business, Meteorology and include a Masters of Science (M.Sc.) in Aviation Management after getting approval from the National Universities Commission (NUC).

He also noted that the university would be jointly controlled through a public-private sector arrangement for a while, after which it will become fully private.

The minister also disclosed on Wednesday, May 17, that the FEC approved that the Nnamdi Azikiwe International Airport, Abuja be concessioned for 20 years and the Mallam Aminu Kano International Airport in Kano for 30 years.

PDP accuses Amotekun of extra-judicial killings in Ondo

Vincent Ufuoma
-
0
PDP accuses Amotekun of extra-judicial killings in Ondo

THE Peoples Democratic Party (PDP) has accused the Western Nigeria Security Network (WNSN), also known as Amotekun Corps of extra-judicial killings in Ondo State.

In a statement released on Wednesday, May 17, the Ondo State chapter of the PDP called on the state governor, Rotimi Akeredolu, to take action and rein in the operatives of the Corps.

The statement signed by Ondo PDP spokesperson, Kennedy Peretei, was titled titled ‘Akeredolu needs to call Amotekun to order’.

Read Also:

The Ondo State PDP highlighted recent killings allegedly perpetrated by Amotekun operatives in that state, including the killing of two individuals, one of whom was a teenager.

The party expressed disappointment with the conduct of Amotekun operatives, accusing the Corps of veering away from their professional ethics.

“In the last two weeks, the excesses of the Ondo State Security Network, popularly known as Amotekun, has drawn tears from the eyes of several families in Ondo State,” the statement said.

“In the month of May alone, Amotekun has been responsible for the death of two persons – a final year Economics student of Federal University of Technology Akure and a 14-year-old boy who the stepmother handed over to Amotekun for ‘more punishment’ for allegedly stealing N500.”

The party noted that hopes that the Amotekun Corps would effectively tackle the menace of herdsmen and kidnappers in the state have been dashed.

It described the killings by the security outfit as devastating, with grieving families seeking help and justice.

The PDP called for an urgent and impartial investigation into the incidents, and stressed the need for an independent body to conduct the investigation to avoid potential conflicts of interest.

The party equally demanded accountability for those responsible for the loss of life, stressing the need for a fair legal process and appropriate disciplinary measures.

The statement also spoke of the need for training programs for Amotekun members, focusing on de-escalation techniques, human rights, and community engagement.

It called for improved transparency and accountability mechanisms within Amotekun, including robust systems for monitoring and reporting incidents of misconduct, as well as accessible channels for the public to voice concerns and file complaints.

The PDP stressed the importance of a security force that upholds principles of justice, respects human rights, and operates with the highest level of professionalism, warning that allowing Amotekun to continue acting outside the law would only lead to further resistance from the people.

It urged the state government not to let the tears of the victims’ families dry without obtaining justice.

The PDP stressed that indiscipline, recklessness, and lawlessness should not be tolerated in any society.

“The initial excitement and hope that Amotekun corps will be an effective check on herdsmen and kidnappers rampaging the forests and streets of Ondo State have paled into frustration and misery. This series of killings by a security outfit of government, maintained with public funds is to say least, is very devastating. The families of the deceased are crying for help and calling for justice. Only God knows if help will ever come their way.

“The government must ensure that this investigation is carried out by an independent body, free from any potential conflicts of interests.

“The people deserve a security force that upholds the principles of justice, respects human rights, and operates with the highest level of professionalism .We cannot allow Amotekun to continue to take laws into their hands and expect that the people will not resist them. It is only a matter of time,” the statement added.

Established in 2020 by governors of the South-West states to combat growing insecurity in the region, the Corps have been accused by various stakeholders, including the Amnesty International, of human rights abuses.

In 2022, the Corps killed 21-year-old Tosin Thomas in Makola area Ibadan, Oyo State.

Confirming Tosin’s death, the state police spokesperson, Olugbenga Fadeyi, said the deceased was killed by a stray bullet from a member of the Corps.

“A report was received from one Alamu Timothy at Makola Police station today 14/01/202 and alleged that one Tosin Thomas ‘M’ 21 YRS of Ode Olo area Ibadan, while going home at Total Filing station Makola Ibadan on 13/01/2021 at about 1130 HRS, was hit by bullets from gun fired by Amotekun operatives.

“He was rushed to University College Hospital (UCH) for immediate medical attention and thereafter was confirmed dead by medical personnel,” the police spokesperson had said.

The Commandant of Amotekun in the state, Olayanju Olayinka, also confirmed the incident.

Olayinka, however, said the operative who shot the deceased was dismissed and handed over to the police.

In December 2020, the National Association of Nigerian Students (NANS) accused members of Amotekun deployed in Oyo town of killing a 400-level student of the University of Ibadan, Akolade Gbadebo.

Also, on January 3, 2021, a member of the Corps, Ibrahim Ogundele, allegedly shot and wounded Fatai Yekini, a police officer attached to the Ojongbodu Police Station as Special Police Constabulary. Yekini was reportedly asked to join the security outfit on a joint operation that day in the Isale-Oyo area of Oyo.

On January 8, 2021, three Fulani residents of Oyo State were allegedly killed by the Amotekun Corps in the Okebi, Tapa area of Ibarapa Central Local Government Area of the state.

UN predicts extreme heat in the next five years

Beloved JOHN
-
0
UN predicts extreme heat in the next five years

THE World Meteorological Organisation (WMO) has predicted that the next five years might be the hottest period due to greenhouse gas emissions and El Nino, a climate pattern that causes unusual warming of surface waters in the eastern tropical Pacific Ocean.

The WMO is a specialised agency of the United Nations whose mandate covers weather, climate and water resources.

According to the WMO, between 2023 and 2027, there is a 98 per cent chance that the planet’s temperature will breach 1.5 degrees Celsius, warming above pre-industrial levels for at least one year.

The UN meteorological organisation made this prediction in its latest annual climate update, released on Wednesday, May 17.

“There is a 98-per cent likelihood that at least one of the next five years, and the five-year period as a whole, will be the warmest on record,” the WMO said.

“Global temperatures are soon set to exceed the more ambitious target set out in the Paris Climate Accords, with a two-thirds chance that one of the next five years will do so,”

According to the report, the 2015 Paris Agreement had countries agreeing to cap global warming at well below two degrees Celsius above average levels measured between 1850 and 1900 — and 1.5C if possible.

“The global mean temperature in 2022 was 1.15C above the 1850-1900 average,” the report read.

The temperature increases are fueled by the rise of planet-heating pollution from burning fossil fuels and the predicted arrival of El Niño.

Global temperatures have soared in recent years as the world continues to burn planet-warming fossil fuels like coal, oil and gas. The hottest eight years ever recorded were all between 2015 and 2022 — but temperatures as the WMO are still forecasted to rise as climate change accelerates. 

However, the WMO Secretary-General, Petteri Taalas, says the world will remain within the Paris benchmark.

In 2015, countries, including Nigeria, pledged in the Paris Climate Agreement to limit global warming to well below 2 degrees – preferably to 1.5 degrees – compared to pre-industrial temperatures. 

According to Taalas, scientists consider the 1.5 degrees of warming as a critical tipping point, beyond which the chances of extreme flooding, drought, wildfires and food shortages could increase dramatically.

“This report does not mean that we will permanently exceed the 1.5 degrees Celsius level specified in the Paris Agreement, which refers to long-term warming over many years. However, WMO is sounding the alarm that we will breach the 1.5 degrees Celsius level temporarily with increasing frequency.

“A warming El Niño is expected to develop in the coming months and this will combine with human-induced climate change to push global temperatures into uncharted territory,” Taalas said. “This will have far-reaching repercussions for health, food security, water management and the environment. We need to be prepared,” he said.

African countries are likely to be severely affected by the predicted heat wave.

The United Nations (UN) warned that Africa’s few remaining glaciers could melt away within two decades.

“By 2030, it is estimated that up to 118 million, extremely poor people will be exposed to drought, floods, and extreme heat in Africa if adequate response measures are not put in place.”

FG condemns attack on US Embassy officials in Anambra

Ijeoma OPARA
-
0
FG condemns attack on US Embassy officials in Anambra

THE Federal Government has condemned the Tuesday, May 16 attack on officials of the United States (US) Embassy in Anambra State.

Four officials of the embassy were killed in the attack, which occured in the Ogbaru Local Government Area of the state.

In a statement released on Wednesday, May 17, by spokesperson of the Ministry of Foreign Affairs Francisca Omayuli, the Federal Government described the incident as most regrettable.

“The Federal Government received with dismay the sad news of the attack on the convoy of the staffers of the U.S. Consulate on May 16, 2023, in Ogbaru Local Government Area (LGA) of Anambra State by yet-to-be-identified gunmen.

“The unfortunate incident, which led to the death of two policemen and two staff of the consulate, is condemnable and most regrettable.”

The statement said investigations have commenced towards apprehending those responsible for the attack.

The government also commiserated with the families of those killed in the attack.

“The Federal Government remains undaunted by this sad development and reiterates its commitment to the continued fight against all forms of crime and criminality in the country,” the statement added.

The attack occurred late on Tuesday night along the Amiyi/Eke Ochuche axis of Ogbaru LGA, when the yet to be identified gunmen targeted the US diplomatic delegation on a humanitarian mission.

Spokesperson for US National Security Council (NSC), John Kirby, while confirming the incident to reporters attack ij the White House, disclosed that the casualties recorded during the attack did not include American citizens.

“I just got informed about that here before coming here to talk to you. It does look like US convoy vehicle was attacked. What I can tell you is that no US citizens were involved, and therefore, there was no US citizen hurt. But we are aware of some casualties, perhaps even some killed,” Kirby said.

South-Eastern Nigeria has been experiencing a rising spate of violence in recent times.

According to a report by The ICIR, at least 287 people died within the region between January and May 2022 due to insecurity.

Most of the violence in the region have been blamed on the outlawed Indigenous People of Biafra (IPOB), particularly it’s military wing, the Eastern Security Network (ESN).

Election tribunal: Tinubu rejects Atiku’s live broadcast request

Beloved JOHN
-
0
Election tribunal: Tinubu rejects Atiku’s live broadcast request

THE President-elect, Bola Tinubu, has rejected the request by the Peoples Democratic Party (PDP) and its presidential candidate, Atiku Abubakar, for a live broadcast of election petition proceedings. 

Describing the request as an “abuse of the processes of court”, Tinubu, through his lawyer, Wole Olanipekun, asked the Presidential Election Petition Court to dismiss the application. He argued that the relief sought by the applicants was not such that the court could grant.

Tinubu responded to Atiku and PDP’s request request for live telecast of the tribunal’s proceedings through a written address presented by Olanipekun on Wednesday, May 17.

On May 8, the PDP and Atiku filed an application requesting live coverage of the tribunal’s proceedings.

They asked the court for “an order directing the court’s registry and the parties on modalities for admission of media practitioners and their equipment into the courtroom”.

They described the election petition as a matter of public interest, with millions of Nigerian citizens and voters as stakeholders with a constitutional right to receive information.

“An integral part of the constitutional duty of the court to hold proceedings in public is a discretion to allow public access to proceedings either physically or by electronic means,” the application filed by Atiku and the PDP said.

However, in his response to the application, Tinubu, through his lawyers, led by Olanipekun, asked the court to reject the request, arguing that the court should not be made “an arena for public entertainment”.

In the written address, Olanipekun noted that Atiku and the PDP failed to acknowledge the practice directions issued by the respective courts to facilitate such proceedings.

“The application also touches on the powers and jurisdiction invested in the President of the Court of Appeal by the Constitution, over which this honourable court as presently constituted cannot entertain.

“The application touches on the administrative functions exclusively reserved for the President of the Court of Appeal. The application is aimed at dissipating the precious judicial time of this honourable court.

“The said application has no bearing with the petition filed by the petitioners before this honourable court.

“It is in the interest of justice for this honourable court to dismiss the said application filed by the petitioners.

“Another angle to this very curious application is the invitation to the court to make an order that it cannot supervise.

“The position of the law remains, and we do submit that the court, like nature, does not make an order in vain, or an order which is incapable of enforcement,” the written address stated.

Olanipekun further described the application as undefined and indiscernible, noting that the court of law must remain serene and disciplined during its proceedings. 

He added: “At the very best, this application is academic, very otiose, very unnecessary, very time-wasting, most unusual and most unexpected, particularly, from a set of petitioners, who should be praying for the expeditious trial of their petition.

“Petitioners have brought their application under Section 36(3) of the Constitution, which provides that the proceedings of a court/tribunal shall be held in Public.

“The word ‘Public’ as applied under Section 36(3) of the Constitution has been defined in a plethora of judicial authorities to mean a place where members of the Public have unhindered access, and the court itself, sitting behind open doors, not in the camera.

“Even in situations where a class action is presented, the particular people constituting the class being represented by the plaintiffs or petitioners are always defined in the originating process.

“Here, in this application, the public at whose behest this application has been presented is not defined, not known, not discernable.

“Beyond all these, it is our submission that the court of law must and should always remain what it is, what it should be and what it is expected to be: a serene, disciplined, hallowed, tranquil, honourable and decorous institution and place.” 

Following the declaration of Tinubu as the winner of the 2023 presidential election, Atiku filed a petition challenging the result declared by the Independent National Electoral Commission (INEC).

He alleged that irregularities in thousands of polling units marred the poll.

The PDP candidate asked that the court declare him Nigeria’s President-elect or nullify the election and order a rerun.

He argued that INEC’s failure to transmit the election results in real-time electronically compromised the outcome of the presidential poll.

All you need to know about 2023 Nigeria Football League Super Six

Toyosi AFOLAYAN
-
0
All you need to know about 2023 Nigeria Football League Super Six

THE Nigeria Professional Football League (NPFL) Interim Management Committee (IMC) has announced that the Super Six will take place at the Mobolaji Johnson Arena in Lagos from June 3 to June 11.

The Super Six, which will decide the champions of the 2022/2023 NPFL season, is to be contested by the Top Three teams in the two groups (Group A and Group B) of the NPFL.

The revision of the timetable was agreed upon with the Nigeria Football Federation (NFF) to accommodate the league and the Federation Cup, according to Davidson Owumi, Head of Operations at IMC.

The tournament will be played in a league format, a total of 15 games — with each of the six teams facing the other. 

The matches will be played in five days.

“With Federation Cup round of 16 and quarter-finals fixtures slated for May 24 and 28, we reasoned that the Super 6 can no longer hold from the earlier date as some of the teams that might qualify for the play-off are also possibly going to be in the Federation Cup,” Owumi said.

Teams are expected to arrive in Lagos June 1, while match officials will arrive the following day.

The IMC further stated that the format would crown the club with the most points at the conclusion of the games as champions.

The NPFL’s abridged regular season will end on May 21, with the top three teams from each group advancing to the playoffs.

Why an abridged league format was adopted for 2022/2023 NPFL season

The start of the 2022/2023 league season had to be delayed due to the league’s new leadership. In response to the tardiness, the IMC suggested a shortened league structure for the season.

The NPFL was last split in half in 2019, when 24 clubs participated in the competition.

The 20 clubs are divided into two groups, A and B, with ten teams in each group for the 2022–23 season.

The IMC also announced that the winner of the 2022/23 NPFL season will bag N100 million. The figure is double the prize earned by Rivers United for winning the 2021/22 season.

QUALIFIED TEAMS

Defending champions Rivers United, Bendel Insurance, and Benue-based club Lobi Stars have secured a place in the Nigeria Premier Football League (NPFL) Super Six playoff tournament.

Three other teams are yet to qualify.

The Super Six’s top two teams will represent Nigeria in the CAF Champions League next season while the overall third-place team on the standings of the Super Six will represent Nigeria in the CAF Confederation Cup.

FactsMatterNG hosts workshop

Blessing OTOIBHI
-
0
FactsMatterNG hosts workshop

FactsMatterNG, with the support of the United States Consulate General, Lagos, is inviting applications for its workshop themed ‘Building Trust in an Age of Information Manipulation’.

The workshop will feature practical sessions on countering post-election disinformation, detecting synthetic media, and a fireside chat with notable influencers and social activists.

The in-person workshop will be held June 1, 2023, in Lagos at the American Corner, Ikeja.

READ ALSO:

Digital creators, journalists, and tech enthusiasts in Nigeria can register for a free workshop.

Registration is ongoing. Interested applicants can register here.

1...919920921...3,440Page 920 of 3,440