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19/07/2023
BREAKING: Tinubu Suspends EFCC Chairman Bawa IndefinitelyWritten by IBRAHIM GUJBAPresident Bola Ahmed Tinubu has approve...
14/06/2023

BREAKING: Tinubu Suspends EFCC Chairman Bawa Indefinitely

Written by IBRAHIM GUJBA

President Bola Ahmed Tinubu has approved the indefinite suspension from office of the Chairman of Economic and Financial Crimes Commission (EFCC), Mr. AbdulRasheed Bawa, CON, to allow for proper investigation into his conduct while in office.

According to a statement by the office of the secretary to the government of the federation (OSGF), the decision followed weighty allegations of abuse of office levelled against him.

Bawa has been directed to immediately hand over the affairs of his office to the Director of Operations in the Commission, who will oversee the affairs of the Office of the Chairman of the Commission pending the conclusion of the investigation.

Nigeria Air: FG spent N190bn on Ethiopian aircraft for photo shoot. June 8, 2023By IBRAHIM GUJBA the controversy surroun...
10/06/2023

Nigeria Air: FG spent N190bn on Ethiopian aircraft for photo shoot.

June 8, 2023

By IBRAHIM GUJBA

the controversy surrounding the launch of Nigeria Air.
the acting Managing Director of Nigeria Air, Captain Dapo Olumide in a meeting with the Senate Committee on Aviation on Tuesday, confirmed that Ethiopia aircraft was chartered to unveil the country’s national career.

The revelation comes after the House of Representatives had declared the launch of Nigeria Air a scam.

Reacting to this in a tweet on Wednesday, Peter Okoye lamented how money continues to disappear from the country through corrupt politicians.

He tweeted: “Monkey stole billions, snake swallowed billions only in Nigeria. Now they borrowed an Ethiopian aircraft for a photo shoot worth 190 billion naira wetin remain again, dem go soon sell this country.”

few hours before the expiration of the former President Muhammadu Buhari-led administration, the immediate past Minister of Aviation, Hadi Sirika on May 26, 2023, hurriedly unveiled Nigeria Air on the claim that it would generate $1 billion in revenue within five years.

SEC declares Binance illegal, says Nigerians investing at own risks10th June 2023By IBRAHIM GUJBA The Securities and Exc...
10/06/2023

SEC declares Binance illegal, says Nigerians investing at own risks

10th June 2023

By IBRAHIM GUJBA

The Securities and Exchange Commission has declared the activities of Binance illegal in Nigeria.

This is according to a published circular on the commission’s website dated June 9, 2023. The commission stated that Binance is neither registered nor regulated by it, and its operations in the country are illegal.

It noted that anyone conducting business on the exchange is doing so at their own risk.

It said, “The attention of the Securities and Exchange Commission (the Commission) has been drawn to the website operated by Binance Nigeria Limited, soliciting the Nigerian public to trade crypto assets on its various web and mobile-enabled platforms.

Binance Nigeria Limited is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal. Any member of the investing public dealing with the entity is doing so at his/her own risk.”

The commission further urged Nigerians to be wary of investing in crypto-assets and crypto-asset-related financial products and services if the service provider/ platform is not registered or regulated by it.

It added, “Nigerian investors are hereby warned that investing in crypto-assets is extremely risky and may result in total loss of their investment.

“By this circular, Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever.”

The SEC also stated that it will provide updates on further regulatory actions with respect to the activities of Binance Nigeria Limited and other similar platforms and is set to work with other regulators in the country to provide further guidance on this matter.

This move by the SEC is set to disrupt the crypto market, especially following recent issues.

150 Northern groups back Tinubu on subsidy removalby IBRAHIM GUJBA  June 6, 2023Over 150 civil society and non-governmen...
06/06/2023

150 Northern groups back Tinubu on subsidy removal

by IBRAHIM GUJBA

June 6, 2023

Over 150 civil society and non-government organizations, under the umbrella of the Coalition of Northern Groups (CNG), have expressed their support for President Bola Ahmed Tinubu’s decision to remove fuel subsidies.

The groups criticized former President Muhammadu Buhari’s administration for pursuing unpopular deregulation programs.

According to Abdul-Azeez Suleiman, the spokesperson for CNG, the Federal Government’s expenditure of N2.91 trillion on petrol subsidies between January and September 2022 has significantly contributed to the country’s declining public finances.

Suleiman highlighted that the subsidy regime has been marred by corruption, benefiting only a few wealthy individuals while hindering Nigeria’s development goals.

He further emphasized that the annual amount spent on subsidies surpasses the funds required to construct major infrastructure projects, such as railways and stadiums, across the country.

In a recent one-day stakeholder roundtable held in Kaduna, the groups expressed their concerns about the backlash following the withdrawal of subsidies.

They argued that subsidies have been a conduit for siphoning public funds to the advantage of a powerful cartel, while ordinary Nigerians suffer.

The CNG called on the Nigerian masses to resist the propaganda campaigns launched by these “merciless cartels” and urged the federal government to implement social cushioning measures alongside subsidy removal.

The groups also appealed to President Tinubu to address the current high fuel price and investigate the fuel market chain, holding those involved in smuggling, hoarding, and subsidy scams accountable, regardless of their rank or status.

As countries worldwide work towards removing fossil fuel subsidies to meet their human rights obligations, the CNG emphasized the need for a permanent solution that ensures affordable petroleum prices.

NEWSThank you, Mr President – Gbajabiamila reacts to his appointment as Chief of Staff June 2, 2023By IBRAHIM GUJBAFemi ...
02/06/2023

NEWS

Thank you, Mr President – Gbajabiamila reacts to his appointment as Chief of Staff

June 2, 2023

By IBRAHIM GUJBA

Femi Gbajabiamila has reacted to his appointment as President Bola Tinubu’s Chief of Staff, CoS.

Gbajabiamila thanked Tinubu for finding him worthy of the appointment.

Tweeting, the former Speaker of the House of Representatives, vowed to work enormously with Tinubu.

Tinubu directs military to turn tide of insecurity in NigeriaBy IBRAHIM GUJBA 01 June 2023   |President Bola Tinubu on T...
01/06/2023

Tinubu directs military to turn tide of insecurity in Nigeria

By IBRAHIM GUJBA

01 June 2023 |

President Bola Tinubu on Thursday met with the nation’s security apparatus at the Presidential Villa, Abuja, where he gave marching orders to the nation’s security agencies in the country to redouble efforts in dealing with the menace of terrorism, insurgency, banditry, oil theft, sea robbery and piracy among others that have conspired to weigh down the country.

At the meeting where he unveiled his security philosophy, Tinubu who decried the declining security in the country, said he will not accept a situation in which the nation’s fortunes continues to dwindle, as his administration is determined to build on whatever gains that have so far been made.

Briefing newsmen at the end of the two hours meeting tagged General Security Appraisal Committee, the National Security Adviser (NSA) Maj Gen Babagana Monguno (rtd) quoted President Tinubu as saying that the new administration is determined to turn the tide of insecurity besetting the country.

To this end, he said President Tinubu particularly mandated the security agencies in the country to work together towards achieving set objectives, adding that “working at cross purposes and colliding with each other, is not something that the new administration will not condone.

He explained that the President further directed security agencies to comply with the demands of coordination, imbibe frequent consultation and timely reports which must be acted on.

“He is going to embark on a lot of reforms in terms of our security architecture, he will take a closer look at our misfortunes in the maritime domain focusing particularly on the issues of oil theft, that he is not going to tolerate. Wherever the problem is coming from, it must be crushed as soon as possible.

“He has already mandated the security agencies to come up with a blueprint. As far as he knows, he doesn’t have the luxury of time and whatever changes will be.

01/06/2023

Five benefits of fuel subsidy removal.

Fuel subsidies are a form of government intervention to reduce the cost of fuel by providing direct financial support to oil companies, and as such, subsidise the product to consumers (Nigerians). Nigeria is one of Africa’s largest producers of crude oil, and it relies heavily on this resource for its economic growth.
The 2023 budget proposed N2.557trn supplementary budget for fuel subsidy.

Here are five benefits of fuel subsidy removal:
1. Fuel subsidy removal, according to experts, would free up resources for other sectors of the economy.

Five benefits of fuel subsidy removal

By IBRAHIM GUJBA

May 30, 2023

President Bola Tinubu on Monday announced fuel subsidy was gone because there is no budgetary allocation for it after June.

What is fuel subsidy?

Fuel subsidies are a form of government intervention to reduce the cost of fuel by providing direct financial support to oil companies, and as such, subsidise the product to consumers (Nigerians). Nigeria is one of Africa’s largest producers of crude oil, and it relies heavily on this resource for its economic growth.

The 2023 budget proposed N2.557trn supplementary budget for fuel subsidy.

Read Also: BREAKING: Fuel subsidy is gone, says Tinubu

Here are five benefits of fuel subsidy removal:

1. Fuel subsidy removal, according to experts, would free up resources for other sectors of the economy.

2. The government spends a significant portion of its budget on fuel subsidies, which could be better spent on education, healthcare, infrastructure development, amongst other key sectors.

3. Establishments of domestic refineries to produce more petroleum products, reducing Nigeria’s dependent

PHOTOS: Tinubu’s first day in office as presidentBy IBRAHIM GUJBAPresident Bola Tinubu on Tuesday resumed office at the ...
30/05/2023

PHOTOS: Tinubu’s first day in office as president

By IBRAHIM GUJBA

President Bola Tinubu on Tuesday resumed office at the A*o Rock Villa, Abuja.

Tinubu inspected a guard of honour before proceeding to his office.

He was inaugurated on Monday alongside Vice-President Kashim Shettima.

See the pictures below.

Bola Tinubu inauguration: Fuel subsidy removed in NigeriaBy IBRAHIM GUJBA 29 May 2023, 06:28The new president of Africa'...
29/05/2023

Bola Tinubu inauguration: Fuel subsidy removed in Nigeria

By IBRAHIM GUJBA
29 May 2023, 06:28

The new president of Africa's largest democracy, Nigeria, has used his inaugural address to make a major policy announcement to ease pressure on government finances.

Bola Tinubu said the decades-long subsidy on petroleum products was being scrapped.

"Fuel subsidy is gone," he told a packed crowd in the capital, Abuja.

He won disputed elections with a promise to renew hope - but he faces tough economic and security challenges.

It is not clear when the new policy will kick in, but ending the subsidy will lead to a rise in the price of petrol and could have a knock on effect on other prices.

Previous Nigerian governments have tried and failed to end the subsidy that was first introduced in the 1970s.

Despite its oil wealth, Nigeria is unable to refine enough crude to meet local demands so it imports petroleum products, which are then sold at a government-set price.

But the subsidy is a huge drain on public finances. Last year it gulped 4.3trn naira ($9.3bn; £7.5bn) and for the first half of this year, 3.36trn naira was budgeted for it.

The new president said the subsidy could no longer be justified and that the funds would instead be spent on public infrastructure and to improve the lives of people.

Mr Tinubu, 71, takes over from Muhammadu Buhari, who has stepped down at the end of his two terms.

He is under pressure to tackle the economic crisis.

Inflation is running at its highest rate for nearly 18 years, one in three people are unemployed and the output of the vital oil industry is shrinking.

Mr Tinubu acknowledged these challenges in his speech, saying his team would release its economic roadmap in the coming weeks but pointed out that interest rates were too high.

The five tests awaiting Nigeria's new president

He won the election in February with 37% of the vote. His main rival Atiku Abubakar polled 29%, and Labour's Peter Obi 25%..

29/05/2023
Buhari Bows Out, Tinubu Sworn In As Nigeria’s PresidentThe Chief Justice of Nigeria, Justice Olukayode Ariwoola administ...
29/05/2023

Buhari Bows Out, Tinubu Sworn In As Nigeria’s President

The Chief Justice of Nigeria, Justice Olukayode Ariwoola administered the oath of office to Bola Tinubu and his deputy, Kashim Shettima at exactly 10:28am and 10:38am respectively.

By IBRAHIM GUJBA

Updated May 29, 2023

After a grueling electioneering process that spanned months, Nigeria now has a new President and Commander-in-Chief of the Armed Forces who will steer the ship of the country for the next four years.

He is 71-year-old Bola Ahmed Tinubu.

Tinubu, a former Lagos State Governor, was inaugurated as Nigeria’s President on Monday, May 29 at the Eagle Square in the nation’s capital city, Abuja.

The Chief Justice of Nigeria, Justice Olukayode Ariwoola administered the oath of office to Tinubu and his deputy, Kashim Shettima at exactly 10:28am and 10:38am respectively.

“I, Bola Ahmed Tinubu, do solemnly swear that I will be faithful and bear true allegiance to the Federal Republic of Nigeria that I will preserve, protect and defend the constitution of the Federal Republic of Nigeria. So, help me, God,” the new President swore.

The swearing in ceremony was witnessed by Tinubu’s predecessors including Muhammadu Buhari and Goodluck Jonathan.
Tinubu’s wife, Remi; Shettima’s wife, Nana as well as Buhari’s wife, Aisha also witnessed the oath-taking ceremony.
African leaders who witnessed the historic event at the venue beautifully decorated with the green-white-green colours of the nation were the new Prime Minister of Gabon, Billy By-Nze, President of the Republic of Cote D’Ivoire, Alassane Ouattara; Ghana President, Nana Akufo-Addo; and Rwanda President, Paul Kagame.

Also at the venue of the inauguration ground were dignitaries including Akinwumi Adesina, Aliko Dangote, Femi Otedola, Abdulsamad Rabiu, and Jim Ovia.

Others present include service chiefs, heads of security agencies, governors, former governors, serving and former ministers as well as chieftains of the All Progressives Congress (APC)

In Farewell Speech, Buhari Apologises to Nigerians for ‘Temporary Pain and Suffering’ Caused by His PoliciesPresident Mu...
28/05/2023

In Farewell Speech, Buhari Apologises to Nigerians for ‘Temporary Pain and Suffering’ Caused by His Policies

President Muhammadu Buhari has apologised to Nigerians for what he called “temporary pains and suffering caused by some of the measures taken by his government.

In a in a farewell speech to the nation on Sunday morning, Buhari said, “In the course of revamping the economy, we made some difficult choices, most of which yielded the desired results. Some of the measures led to temporary pain and suffering for which I sincerely apologised to my fellow countrymen, but the measures were taken for the over-all good of the country.”

He however maintained that he was leaving the country better than he met it.

Buhari said: “The Nigerian economy has become more resilient due to the various strategies put in place to ensure that our economy remained afloat during cases of global economic downturns.

“You would all recall the supply chain disruptions and economic downturn that the world witnessed between 2020 and 2022 as a result of the COVID-19 pandemic. The deftness of our response to the pandemic still remains a global best practice.

“Furthermore, we increased the ability of the poor and rural Nigerians to earn a living, provided more food for millions in our villages and gave our women opportunities to earn a living.

“Young men and women in urban centres were also supported to put their skills into productive use. Our administration also provided an enabling environment for the private sector to engage in businesses for which their return on investments is guaranteed.

“The private sector proved a strong partner in our drive to build a resilient and sustainable economy as evidenced by the growing number of turn-key projects in various sectors of the economy.

Key metrics show Buhari failed as Nigeria’s PresidentBuhari's eight-year reign as president has seen Nigeria struggle th...
28/05/2023

Key metrics show Buhari failed as Nigeria’s President

Buhari's eight-year reign as president has seen Nigeria struggle through numerous challenges, with inflation and unemployment at worse levels than he met them.

By IBRAHIM GUJBA
May 28, 2023

Today is President Muhammadu Buhari’s last full day in office as Nigeria’s president. First sworn in as a democratic president on 29 May 2015, he will hand over to his successor, Bola Tinubu, tomorrow.

During the 2015 election, Mr Buhari convinced Nigerians to do something they had never done before – turn power over to the opposition party at the national level. In return, Nigerians expected him and his party, the APC, to do something hard to do – sail their country across turbulent economic and political waters.
“My only desire is to prove to you that Nigeria can truly work,” Mr Buhari said on the morning of 6th January 2015. “Allow me to prove to you that in your lifetime, you can be proud of this country,” he added. Mr Buhari later promised to tackle corruption and insecurity and develop the economy which he said was in poor shape.

Monday, May 29 will mark eight years since Mr Buhari took power as Nigeria’s president, after defeating former President Goodluck Jonathan in 2015 and winning re-election in 2019.

His eight-year reign as president has seen the nation wriggle through numerous challenges, with inflation and unemployment at worse levels than he met them. Some Nigerians believe the Buhari administration has performed way below the bar it set for itself in seeking office. But, we examined data on some key indicators to see how Buhari performed in the last eight years.

Inflation

Before Mr Buhari took office in 2015, Nigeria’s inflation rates remained at single digits – even as analysts opined at the time that it was high. For instance, in the whole of 2014, the inflation rate moved between 7.7 per cent, which was the lowest, to the highest point of 8.5 per cent, official data shows..

FG restricts movement around Eagle Square head of Tinubu’s inaugurationBy IBRAHIM GUJBA 28 May 2023   |   8:57 pmSecurit...
28/05/2023

FG restricts movement around Eagle Square head of Tinubu’s inauguration

By IBRAHIM GUJBA

28 May 2023 | 8:57 pm

Security have been beefed-up at Eagles Square,Abuja ahead of May 29th inauguration. PIX:Gazette

The Federal Government has ordered that movements around Eagle Square in Abuja will be restricted from Friday to Tuesday ahead of the inauguration of President-elect Bola Tinubu.

The inauguration parade for Tinubu and his vice-president-elect, Kashim Shettima, will take place on Monday, May 29 at Eagle Square. In the weeks leading up to the inauguration ceremony, various branches of the military have been conducting drills.

A permanent secretary at the Head of the Civil Service, Ngozi Onwudiwe, announced in a circular on Friday that the federal government has restricted movement around Eagle Square.

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FG restricts movement around Eagle Square ahead of Tinubu’s inauguration

Security have been beefed-up at Eagles Square,Abuja ahead of May 29th inauguration. PIX:Gazette

The Federal Government has ordered that movements around Eagle Square in Abuja will be restricted from Friday to Tuesday ahead of the inauguration of President-elect Bola Tinubu.

The inauguration parade for Tinubu and his vice-president-elect, Kashim Shettima, will take place on Monday, May 29 at Eagle Square. In the weeks leading up to the inauguration ceremony, various branches of the military have been conducting drills.

A permanent secretary at the Head of the Civil Service, Ngozi Onwudiwe, announced in a circular on Friday that the federal government has restricted movement around Eagle Square.

Nigeria declares Monday, May 29 public holdiday for Tinubu swearing inBy Ibrahim Gujba 28 May 2023   |   5:16 pmPresiden...
28/05/2023

Nigeria declares Monday, May 29 public holdiday for Tinubu swearing in

By Ibrahim Gujba

28 May 2023 | 5:16 pm

President-elect Bola Tinubu (middle) being decorated with the award of Grand Commander of the Federal Republic (GCFR) by President Muhammadu Buhari, as his wife, Oluremi, looks on, at the State House, Abuja…yesterday.

The Nigerian Government has declared Monday May 29 a public holiday to commemorate the inauguration of President-elect Bola Tinubu as the 16th democratically elected president of Nigeria.

Tinubu will succeed current President Muhammadu Buhari after swearing in on Monday, May 29. Buhari was first elected in 2015, reelected in 2019 to complete a two-term tenure as president.

Minister of Interior, Ogbeni Rauf Aregbesola, who announced the public holiday, felicitated with Nigerians on the momentous occasion.

He commended Nigerians for their faith in democracy as expressed in the nationwide elections that produced the president and his deputy being inaugurated and in all elections across the nation.

The Minister in a statement by the Permanent Secretary, Dr Shuaib Belgore, enjoined Nigerians to continue to support and promote democracy through adherence to the rule of law and uphold all democratic institutions.

“Democracy anywhere is an unfinished business and the only way it can keep developing and serve its end of being the vehicle to good governance and the welfare of all the people is by adhering to its tenets of rule of law, support for democratic institutions, promotion of free and responsible press and advancement of the frontiers of freedom for all the people,” Aregbesola said.

Aregbesola urged Nigerians also to continue to promote ideals of peaceful coexistence and love for our neighbours, noting that we can only practice democracy and enjoy its dividends in a peaceful environment.

The Minister commended all Nigerians for their strident efforts at achieving an unbroken civilian rule and successful change of governments.

CNG lambasts OPC, cautions Tinubu against regional jingoistsBy Ibrahim Gujba May 27, 2023the Coalition of Northern Group...
27/05/2023

CNG lambasts OPC, cautions Tinubu against regional jingoists

By Ibrahim Gujba May 27, 2023

the Coalition of Northern Groups (CNG) has opined that neither the Odua Peoples Congress (OPC) nor Afenifere played any role in bringing the Tinubu presidency to fruition but opposed his bid right from the primary to the secondary stages of the election.
This online platform further reports that the CNG was reacting to statement attributed to OPC that the North could no longer demand what is due to it from the president-elect, Bola Ahmed Tinubu.

According to CNG, in a statement by its spokesperson, Abdul-Azeez Suleiman made available to ASHENEWS on Saturday, the North and not the West produced the winning votes for Bola Tinubu.

“It is no longer news that neither Afenifere nor OPC played any role in bringing about the Tinubu presidency, what is clear however, is they both expressly and impliedly opposed his bid for the presidency right from the primary to the secondary stages of the race.

“For any of these groups to now turn around and assume the right to speak against the North, from where the President-elect extracted the bulk of his winning votes, is the accurate personification of crass opportunism,” the statement reads in parts.The CNG cautioned Tinubu against playing the cards of regional jingoists.

“We therefore caution the incoming President to be wary of the way he relates with proliferated regional jingoist associations like OPC and the Afenifere, lest they drag him into an unnecessary misunderstanding with other sections of the country by pretending to be his kith and kin.”

The Coalition of Northern Groups is perplexed by a recent shamefaced remarks said to have been made by the Oduwa Peoples Congress that tends to threaten the North against demanding what is due to it from the president-elect, Bola Ahmed Tinubu
Without the need to give the OPC more reasons to feel important, the CNG is however compelled to respond for the fact that both the self-professed.

Buhari’s cabinet members switching allegiance to Tinubu – Garba Shehu26th May 2023By Ibrahim GujbaThe Senior Special Ass...
26/05/2023

Buhari’s cabinet members switching allegiance to Tinubu – Garba Shehu

26th May 2023

By Ibrahim Gujba

The Senior Special Assistant, Media and Publicity to the President, Major General Muhammadu Buhari (retd), Garba Shehu, has revealed that some staff of the present administration have started to switch allegiance to the incoming government, a move he described as ‘human nature.’

According to him, it is very normal for people to switch allegiance but noted that the way with which people are switching their allegiance to the incoming administration is different from what ex-president, Goodluck Jonathan, experienced. This according to Shehu was because Jonathan was patriotic.



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Buhari’s cabinet members switching allegiance to Tinubu – Garba Shehu

25th May 2023



Buhari's SSA, Media and Publicity, Garba Shehu

By Amarachi Okeh

Kindly share this story:

The Senior Special Assistant, Media and Publicity to the President, Major General Muhammadu Buhari (retd), Garba Shehu, has revealed that some staff of the present administration have started to switch allegiance to the incoming government, a move he described as ‘human nature.’

According to him, it is very normal for people to switch allegiance but noted that the way with which people are switching their allegiance to the incoming administration is different from what ex-president, Goodluck Jonathan, experienced. This according to Shehu was because Jonathan was patriotic.

Speaking on Arise TV on Wednesday he said, “You can’t change human beings. So, the man of the moment obviously is the incoming president. So, you will expect people, who will come around him, but I think the case of Jonathan was different because I think again, there was desertion by a number of people around him who felt disappointed that he chose to be patriotic, nationalistic.

CBN disburses N173bn under 100-for-100 policy26th May 2023By Ibrahim GujbaThe Central Bank of Nigeria has disbursed N173...
26/05/2023

CBN disburses N173bn under 100-for-100 policy

26th May 2023

By Ibrahim Gujba

The Central Bank of Nigeria has disbursed N173.31bn to beneficiaries under its 100-for-100 Policy on Production and Productivity since the commencement of the intervention.

According to the bank, the CBN Governor, Godwin Emefiele, disclosed this in Abuja after the Monetary Policy Committee meeting.

He said, “Under the 100 for 100 Policy on Production and Productivity, the Bank disbursed the sum of N13.81bn to three projects in the manufacturing sector.

“This brings the cumulative disbursement under the facility to N173.31bn, disbursed to 81 projects comprising 45 manufacturing, 23 agriculture, five healthcare, and eight services sector projects with an estimated 23,343 direct jobs created.”

According to the guidelines for the implementation of the initiative, the CBN fixed the maximum loan amount that a participant could get at N5bn.

The CBN stated in the guideline that the initiative would select 100 private sector companies with projects that have potential to significantly increase domestic production and productivity, reduce imports, increase non-oil exports, and overall improvements in the foreign exchange generating capacity of the Nigerian economy.

“The initiative, which shall be bank-led, will be rolled over every 100 days (that is, quarterly) with a new set of companies selected for financing under the initiative,” it stated.

The apex bank said the initiative would be implemented in collaboration with relevant stakeholders, with a focus on micro and macroeconomic impacts, in terms of contribution to GDP and exports, sustainable jobs created, local content development, production output, and capacity utilisation and integration into the global value chain.

UPDATED: Reps grill Malami over $2.4bn illegal oil sale, demand records of $1bn recoveries25th May 2023By Ibrahim Gujba....
26/05/2023

UPDATED: Reps grill Malami over $2.4bn illegal oil sale, demand records of $1bn recoveries

25th May 2023

By Ibrahim Gujba.

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UPDATED: Reps grill Malami over $2.4bn illegal oil sale, demand records of $1bn recoveries

25th May 2023



Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami

By Leke Baiyewu

Kindly share this story:

…Justice ministry refers lawmakers to finance minister, accountant-general, EFCC

The House of Representatives, on Thursday, grilled the Minister of Justice and Attorney-General of the Federation, Abubakar Malami (SAN), for the second time over the alleged illegal sale of 48 million barrels of crude oil in China valued at over $2.4bn.

Malami, in company of the Permanent Secretary, Ministry of Justice/Solicitor-General of the Federation, Beatrice Jedy-Agba, appeared before the House’ Ad Hoc Committee to Investigate Alleged Loss of Over $2.4 Billion in Revenue from Illegal Sale of 48 Million Barrels of Crude Oil Export in 2015 Including All Crude Oil Exports and Sales by Nigeria from 2014 Till Date.

Despite the documents presented to the committee based on an earlier request by the panel, the lawmakers asked for more documents.

While Malami restated his earlier position about the allegation and the probe, he also asked the lawmakers to avail him of documents and facts at their disposal to assist him in aiding the investigation.

Chairman of the committee, Mark Gbillah, earlier noted that the lawmakers were in possession of communication from the outgoing President, Major General Muhammadu Buhari (retd.) “regarding this particular issue, which we will not say openly but will take up with you in private because we also understand certain things are classified and confidential.”

Gbillah added, “We are not just embarking on something that is a wild goose chase. I want to put that on the record.”

Group ends protest against Tinubu’s electionBy: ibrahim gujba Date:May 25, 2023A group, Free Nigeria Movement, FNM, has ...
26/05/2023

Group ends protest against Tinubu’s election

By: ibrahim gujba

Date:

May 25, 2023

A group, Free Nigeria Movement, FNM, has called for the end of the protest against the presidential election that produced the ruling All Progressives Congress, APC’s candidate, Bola Tinubu as winner.

The group made the call in a statement by the Convener, Moses Paul, on Thursday, barely four days to the inauguration of the president-elect.

Paul said the group was retreating from the protest to strategize on other means of getting justice, stressing that it can no longer guarantee the safety of members in the face of daunting threats and intimidation.

He said, “Our focus is unshakably Nigerian. Our rules are written by justice. Consequently, the Free Nigeria Movement will no longer participate in any protests or gatherings to contest the outcome of the presidential election of February 25, 2023.

“This is in keeping with our commitment to ensure that no life is lost in our protest. Given the weight of threats and intimidation daily received by our leaders, we can no longer guarantee the safety of members and therefore call for the cessation of public outings for protests. We make this announcement today and will send copies to the police and DSS.

“Henceforth, our banners or placards will not be used in any protests pertaining to the presidential election until further notice. Any sighting of our banner or the likeness of such at any protest, kindly note, is not us.”

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