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Home > Archives for > Page 192
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Folarin Kehinde

Folarin Kehinde

Headlines

“They swore with Quran and will not return to killings” Borno Govt defend integration of 160,000 into the society

by Folarin Kehinde February 15, 2024
written by Folarin Kehinde

The Borno State Government has said that the 160,000 repentant Boko Haram insurgents cannot return to killings because they swore to an oath with the Quran.

The state’s Commissioner for Women Affairs and Social Development, Zuwaira Gambo, stated this on Wednesday, February 14.

Gambo, whose ministry oversees the affairs of the ex-combatants and rescued captives, added that of the 160,000 repentant insurgents, 70,000 had been resettled and reintegrated into their communities.

Gambo stressed that having sworn by the Quran the ex-terrorists would never return to the bush to rejoin Boko Haram.

She spoke at the public presentation of survivors, victims and deradicalised women of Boko Haram by the UKAID-assisted Maiduguri-based non-governmental organisation, Allamin Foundation.

The commissioner allayed the growing public fears that the resurgence of terror in the North-East was being caused by the repentant terrorists reneging on their repentance and trooping back to the bush to pick up arms against the Nigerian state.

“It is completely untrue that the repentant Boko Haram fighters are reneging on their repentance and returning to the bush to continue fighting.

“Out of the over 160,000 who repented, we have already reintegrated over 70,000 in their home communities, and I can assure you that no one will be missing should we decide to gather all of them for anyone to confirm. We operate a transparent process of their repentance.”

Gambo said she was sure the repentant insurgent would not return to the trenches, having taken an oath with the Quran.

“We subject each of them to proper oath taking with the Holy Quran that he or she will never return to the bush to fight; and he or she swears with the Holy Quran in the presence of a committee comprising traditional rulers, religious leaders and government officials.

“No repentant Boko Haram dare renege on the oath because he or she knows what it means to swear with the Holy Quran and renege; and he or she knows that he or she dare not return to the bush because he or she knows that death awaits him on arrival; their commanders in the bush will kill him because they would not trust him.”

The commissioner said about 75 per cent of the repentant insurgents were originally farmers, who were captured and forced into insurgency.

“They were not real fighters,” she said, adding that the state government would study the entire charters of demand and do everything it could about them.

February 15, 2024 0 comments
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Business

BREAKING: UK economy slips into recession

by Folarin Kehinde February 15, 2024
written by Folarin Kehinde

The UK economy has slipped into recession as households cut back on spending in response to soaring interest rates and rising cos of living.

The Office for National Statistics (ONS) said gross domestic product (GDP) fell by a larger than expected 0.3% in the three months to December after a decline in all main sectors of the economy and a collapse in retail sales in the run-up to Christmas.

It followed a drop of 0.1% in the third quarter, confirming a second consecutive quarter of falling national output – the technical definition of a recession.

According to the UK Guardian, the official confirmation of a recession is a blow to the government with an election less than a year away and will embarrass Rishi Sunak, after the prime minister made growing the economy one of his five priorities for government at the start of last year.

Rachel Reeves, the shadow chancellor, said: “Rishi Sunak’s promise to grow the economy is now in tatters. The prime minister can no longer credibly claim that his plan is working or that he has turned the corner on more than 14 years of economic decline under the Conservatives that has left Britain worse off.

“This is Rishi Sunak’s recession, and the news will be deeply worrying for families and business across Britain.”

The ONS said growth over the course of 2023 as a whole was estimated at 0.1%, the weakest year since 2009 during the financial crisis, excluding the economic collapse in 2020 during the Covid pandemic.

The director of economic statistics at the ONS, Liz McKeown, said: “Our initial estimate shows the UK economy contracted in the fourth quarter of 2023. While it has now shrunk for two consecutive quarters, across 2023 as a whole the economy has been broadly flat.

“All the main sectors fell on the quarter, with manufacturing, construction and wholesale being the biggest drags on growth, partially offset by increases in hotels and rentals of vehicles and machinery.”

Economists had widely expected a shallow recession at the end of last year as households came under pressure from higher borrowing costs and rising prices for everyday essentials, forcing cutbacks elsewhere.

Widespread strikes across the economy and heavy rainfall also dampened activity.

More recent snapshots from the economy have, however, shown a rebound in consumer confidence since the start of this year, buoyed up by the prospect of interest rate cuts from the Bank of England as inflationary pressures cool.

Andrew Bailey, the Bank’s governor, this week downplayed the significance of the quarterly GDP figures, suggesting there were signs of an “upturn” in the economy that would become clearer in the months ahead.

The chancellor, Jeremy Hunt, said: “High inflation is the single biggest barrier to growth, which is why halving it has been our top priority. While interest rates are high – so the Bank of England can bring inflation down – low growth is not a surprise.

“But there are signs the British economy is turning a corner. Forecasters agree that growth will strengthen over the next few years, wages are rising faster than prices, mortgage rates are down and unemployment remains low. Although times are still tough for many families, we must stick to the plan – cutting taxes on work and business to build a stronger economy.”

However, the latest snapshot from the ONS indicated weakness across much of the economy at the end of last year, with a fall in GDP amid a tough Christmas shopping period for retailers, strikes by junior doctors, and heavy rainfall.

Reflecting on pressure on household spending amid the cost of living crisis, the ONS said output in the UK’s dominant services sector had fallen for three consecutive quarters, with a drop of 0.2% in the last three months of 2023.

Suren Thiru, the economics director at the Institute of Chartered Accountants in England and Wales, said: “Though the shallowness of this recession provides comfort, these figures also confirm that our economy remained locked in a cycle of persistent stagnation throughout 2023 as a myriad of headwinds, including high inflation, weighed heavily on activity.”

February 15, 2024 0 comments
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Headlines

BREAKING: More troubles for Nigerians as Tinubu’s govt announces plan to stop subsidizing electricity

by Folarin Kehinde February 15, 2024
written by Folarin Kehinde

The Bola Tinubu-led federal government has announced plans to stop subsidizing electricity.

The Minister of Power, Adebayo Adelabu, disclosed this at a press conference in Abuja on Wednesday, February 14.

Adelabu said that Nigeria cannot continue to subsidise electricity, adding that the nation must begin to move towards a cost-effective tariff model.

The minister noted that the country is currently indebted to the tune of 1.3 trillion naira to generating companies (GenCos) and 1.3 billion dollars owed gas companies.

Adelabu said only 450 billion naira was budgeted for subsidy this year but the ministry needs over 2trillion naira for subsidy.

He said state governments will now be allowed to generate power independently to supply power to their states.

On the grid that has collapsed for about six times between December 2023 and now, the minister said this was caused by shortage of gas, ageing machines in the grid value chain, low capacity to evacuate generated power, and destruction of power stations in some parts of the North-East geopolitical zone of the country.

He said the Transmission Company of Nigeria has over 100 abandoned projects due to variations on contract figures as a result of the fluctuations of the forex, hence the company will not award any new contracts till all such projects are completed.

The minister also said over 50 billion naira has been earmarked in the 2024 budget to build mini grids to supply power to remote areas.

He said electricity distribution companies (DisCos) should sit up otherwise anyone found wanting will have his licence withdrawn.

The minister also said he has reached out to the National Security Adviser, Nuhu Ribadu to help provide security for power infrastructure.

February 15, 2024 0 comments
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Headlines

TSA: House to Sanction Non-Compliant MDAs —Summons CBN, AGF and Finance Minister

by Folarin Kehinde February 15, 2024
written by Folarin Kehinde

The House of Representatives Committee on Public Accounts (PAC) has resolved to sanction Ministries, Departments and Agencies (MDAs) that flout the TSA regulations.

In a bid to uphold transparency and accountability, the Committee has summoned the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, Finance Minister Wale Edun, and representatives from the Accountant General’s office to appear before the House on February 20th, 2024.

This development comes in the wake of a hearing today presided over by Hon. Bamidele Salam. The session was convened to probe instances of alleged leakages and non-remittance of TSA revenue generated through Remita, originating from a motion co-sponsored by lawmakers Hon. Jeremiah Umaru and Jafaru Gambo, both members of the All Progressives Congress.

The Committee Chairman, Hon. Salam, underscored that “the investigation is not a witch-hunt targeting any company but rather a crucial step towards transparency and ensuring accountability for the Federation’s revenue.”

During the hearing, Mr ‘Deremi Atanda, Managing Director of Remita Payment Service Limited (RPSL), clarified that Remita does not manage government revenue. Instead, it serves as an indigenous software and payment gateway, channelling collected funds directly into CBN accounts.

He emphasised that revenue losses cannot occur within the Remita platform itself, with the technology being designed to provide real-time data on the banking statements of all the MDAs using the platform.

Mr Atanda further debunked the allegation of a 1% fee charged by the Federal Government and Remita for the processing of TSA transactions. Referencing the CBN circulars of November 2018 and December 2020, he confirmed that the applicable fee for processing TSA payments was N150 with applicable VAT irrespective of the amount being paid to any Federal Government MDA account at the central bank.

Denying unauthorised fees beyond the N150 per transaction, Mr Atanda affirmed Remita offers free value-added services to the federal government despite foreign hosting costs. He then clarified that the Banks receive 33%, CBN, 11%, NIBSS takes 10.5%, and oAGF gets a 2.5% share, while Remita and other stakeholders, including card issuers, collectively share the remaining 43%.

Billy Osawaru, representing Orhionmwon/Uhunmwonde Federal Constituency of Edo State, who initiated the motion to summon the CBN governor and AGF and Minister of Finance lamented that the lack of documents at the investigative public hearing.

He was particularly troubled by the Central Bank’s failure to produce documents, contrasting sharply with Remita, which provided a contract signed by the CBN.
While ruling, Chairman, House Committee on Public Accounts, Hon. Bamidele Salam underscored the need for physical appearance of the Minister of Finance and Coordinating Minister of the Economy, CBN Governor and Accountant General of the Federation before the Committee, on Tuesday, 20th February, 2024.

February 15, 2024 0 comments
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Headlines

BREAKING: ‘Looted funds recovered under Buhari now missing from CBN’ – SERAP

by Folarin Kehinde February 14, 2024
written by Folarin Kehinde

A group, the Socio-Economic Rights and Accountability Project (SERAP), has alleged that all the stolen public funds recovered by the immediate past government of Muhammadu Buhari are missing from the Central Bank of Nigeria (CBN).

In a tweet via its X handle on Wednesday, SERAP noted that the missing looted funds were discovered when the management of the apex bank could not account for them.

“BREAKING: Recovered stolen public funds between 2016 and 2019 are reportedly missing from the Central Bank of Nigeria [CBN]. The Auditor-General of the Federation wants the CBN to account for the money,” the group wrote on X.

The Human and Environmental Development Agenda (HEDA Resource Centre) had earlier disagreed with the Nigerian government on the amount of looted funds the latter said it recovered from 2015 to 2022.

The Buhari Government, however, disclosed that over one billion dollars were recovered as looted funds by the administration within the period of seven and half years.

The former Attorney-General and Minister of Justice, Abubakar Malami, who made this known while briefing journalists claimed that $1 billion in looted funds had so far been recovered by the Buhari-led administration.

Speaking on the issue of looted funds, Malami stated that the money had been deployed to various sectors of the economy, including poverty alleviation.

February 14, 2024 0 comments
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Headlines

‘We now eat leaves under your govt’ Northern Youths blast Tinubu, burn Nigerian flag

by Folarin Kehinde February 14, 2024
written by Folarin Kehinde

A group of northern youths burned the Nigerian flag to protest the increasing cost of living and economic hardship that continued to define the first year of President Bola Tinubu’s administration.

In the video shared on X recently, the youths were seen setting the flag ablaze while bemoaning the precarious economic conditions, contrasting the crisis with enormous government spending on nonessential issues that continue to surface amid the economic crisis.

“We voted you (referring to President Bola Tinubu) into power. But see the situation we are in: people are feeding on leaves while you are living in an affluent manner,” the youths said.

They added, “A packet of Spaghetti is now N700 and beyond the reach of the poor.”

The youths also mentioned that Nigeria’s 1-2 loss to Cote d’Ivoire at the 2023 Africa Cup of Nations final on Sunday was necessary to redirect the focus of citizens to the current untold hardship.

“We thank the almighty God for Nigeria losing the football competition. We pray Nigeria does not win anything if this is how the country is being governed,” said the northern youths. “We are tired of everything.”

Mr Tinubu has, however, continued to urge Nigerians to persevere, admitting that his radical economic reforms might plunge the majority of Nigerians into hardship, but it was necessary for the economic prosperity that would follow.

“The time may be rough and tough. However, our spirit must remain unbowed because tough times never last. We are made for this period, never to flinch, never to falter.

“The socio-economic challenges of today should energize and rekindle our love and faith in the promise of Nigeria,” Mr Tinubu said in his New Year address.

February 14, 2024 0 comments
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Headlines

“Arrest them Dead or Alive”, says Wike, places N20m bounty on two wanted Abuja kidnappers

by Folarin Kehinde February 14, 2024
written by Folarin Kehinde

The Minister of the Federal Capital Territory, Nyesom Wike has put a N20 million bounty on two wanted notorious kidnappers terrorizing Nigeria’s capital city.

The former Rivers State Governor stated this on Wednesday when he met the FCT Commissioner of Police, Bennett Igweh.

The suspected kidnappers, Dahiru Adamu and Abu Ibrahim have allegedly been terrorising the nation’s capital.

“I will put money on them. I have placed a N20 million bounty on the two of them. Anyone who finds them would get the N20 million.

“Fish them out, dead or alive. We will not give them breathing space just as they’ve not been giving us breathing space,” the Minister told the FCT police boss.

February 14, 2024 0 comments
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Headlines

JUST IN: President Tinubu set to depart Abuja for AU Summit in Ethiopia

by Folarin Kehinde February 14, 2024
written by Folarin Kehinde

President Bola Tinubu is scheduled to leave Abuja on Thursday, February 15, to participate in the 37th Ordinary Session of the Assembly of Heads of State and Government of the African Union (AU) in Addis Ababa, Ethiopia.

The summit’s theme, “Educate an African fit for the 21st Century,” will focus on developing resilient education systems to enhance access to inclusive, lifelong, quality, and relevant learning across Africa.

During the summit, President Tinubu will engage with other African leaders in high-level discussions covering institutional reforms of the African Union, peace and security, climate change, and AU participation in the G20.

Additionally, he will attend an extraordinary summit of the Authority of Heads of State and Government of ECOWAS in his capacity as the regional body’s Chairman.

Presidential spokesman, Ajuri Ngelale, said in a statement that the President will be accompanied by key ministers and government officials.

”Upon the conclusion of the summit, President Tinubu is expected to return to Abuja,” he added.

February 14, 2024 0 comments
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Headlines

BREAKING: Duoye Diri sworn in as Bayelsa governor

by Folarin Kehinde February 14, 2024
written by Folarin Kehinde

Governor Duoye Diri has been sworn in for a second term in office as Bayelsa governor.

He took his oath of office on Wednesday, February 14, at the Samson Siasia Sports Complex in Yenagoa, the state capital.

Dignitaries that graced the occasion included Vice President Kashim Shettima, former Presidents Olusegun Obasanjo and former President Goodluck Jonathan among others.

Diri polled a total of 175,196 votes to defeat his main rival, Timipre Sylva of the All Progressives Congress (APC).

Details shortly…

February 14, 2024 0 comments
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Headlines

BREAKING: Police arrest seven notorious Abuja kidnappers, recover N9 million

by Folarin Kehinde February 14, 2024
written by Folarin Kehinde

Men of the Federal Capital Territory (FCT) Police Command have arrested seven notorious kidnappers in Abuja, recovering N9 million ransom.

Parading the suspects on Wednesday, the FCT police commissioner, CP Benneth Igweh, said the kidnappers were arrested by operatives of the Utako police division led by CSP Victor Godfrey in a coordinated operation at Tudun – Wada Lugbe and Pyakasa area of Trademore.

He gave the names of the wanted kidnappers as Usman Muazu from Kwali, FCT, Aliyu Mohammed, from Pumpomare area of Borno state, Awwal Dahiru, who hails from Gwagwalada area council of the FCT, Rabi Sani, from Safana, Katsina state and Madina Abubakar, from Gulu, Lapai local government area of Niger state.

Others are, Jonah Elimelech from Kauru, Kaduna state, Saminu Idris, from also from Kauru, Kaduna state and Mariji Iliya from Mangu, Plateau state.

According to him, the suspects were linked to high profile kidnapping cases in FCT and its environs, saying all the suspects have confessed to their crime and are giving useful information to aid the arrest of other gang members.

He said other exhibits recovered from the suspects included knives, cutlasses, bullet proof vest and charms.

CP Igweh further disclosed that 79 suspects were also arrested during raids on various black spots by the police operatives from Trademore, Galadimawa, Maitama and Gwagwalada in the FCT.

He noted that the raid was part of the command efforts to rid FCT of crimes, as its operatives raided uncompleted buildings and also recovered substance suspected to be Indian hemp and some illicit drugs from the suspects.

“And we speak, the suspects who have been profiled are in custody undergoing interrogation at respective division, while those found wanting will be charge to court,” he said.

February 14, 2024 0 comments
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