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Nelson Ugwuagbo

Nelson Ugwuagbo

Entertainment

Nollywood actor, Dejumo Lewis is dead

by Nelson Ugwuagbo December 23, 2023
written by Nelson Ugwuagbo

Nollywood actor, Dejumo Lewis has died.

The thespian, who mostly acted in Yoruba movies passed away at the age of 80.

Lewis’s death was confirmed by his colleague, Saidi Balogun, on his Instagram page.

“Good night DEJUMO LEWIS, may your soul rest in perfect peace,” Balogun posted on the social media platform.

Lewis was notable for his roles in “A Place in the Stars”, ‘Crossroads’, ‘Power of 1’, and most especially for playing the Kabiyesi role in ‘The Village Headmaster”.

Although the cause of his demise is yet to be confirmed, many actors have taken to social media to mourn him.

December 23, 2023 0 comments
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Business

Central Bank Of Nigeria Lifts Ban On Cryptocurrency, Crypto Assets

by Nelson Ugwuagbo December 23, 2023
written by Nelson Ugwuagbo

This is according to a circular dated December 22, 2023, with reference number FPR/DIR/PUB/CIR/002/003, and signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa. 

The Central Bank of Nigeria has reversed its policy on crypto assets in the country and asked banks to disregard its earlier ban on crypto transactions. 
This is according to a circular dated December 22, 2023, with reference number FPR/DIR/PUB/CIR/002/003, and signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa. 
The CBN circular is titled, “Circular to all Banks and other Financial Institutions Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers (VASPS).” 
The apex bank stated that current trends globally have shown the need for crypto regulation. It said, “The CBN in February 2021 issued a circular restricting banks and other financial institutions from operating accounts for cryptocurrency service providers in view of the money laundering and terrorism financing (ML/TF) risks and vulnerabilities inherent in their operations as well as the absence of regulations and consumer protection measures.
“However, current trends globally have shown that there is need to regulate the included providers (V/ASPs) which activities of virtual assets service cryptocurrencies and crypto assets. Following this development, the Financial Action Task Force (FATF) in 2018 also updated its Recommendation 15 to require VASPs to be regulated to prevent misuse of virtual assets for ML/TF/PF Furthermore, Section 30 of the Money Laundering (Prevention and Prohibition) Act, 2022 recognizes VASPs as part of the definition of a financial institution. 
“In addition, the Securities and Exchange Commission in May 2022 issued Rules on Issuance, Offering and Custody of Digital Assets and VASPs to provide a regulatory framework for their operations in Nigeria. 
“In view of the foregoing, the CBN hereby issues this guideline to provide guidance to financial institutions under its regulatory purview in respect of their banking relationship with VASPs in Nigeria

December 23, 2023 0 comments
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Africa & World

France bans Nigerian students, others from bringing families

by Nelson Ugwuagbo December 22, 2023
written by Nelson Ugwuagbo

The French parliament has passed a law restraining Nigerian students and others from bringing their families to the country.

Leading Reporters learnt that on Thursday, the law was backed by both President Emmanuel Macron’s centrist Renaissance party and Deputy of the French National Assembly, Marine Le Pen’s far-right National Rally.

A previous draft was rejected by parliament last week when the National Rally, as well as the left, voted against it. In response, the government redrafted the bill, making some of its provisions tougher.

The new toughening immigration policy makes it more difficult for migrants to bring family members to France and delays their access to welfare benefits.

It also bans detaining minors in detention centers while leaders of a third of French regions said they would not comply with certain measures in the law.

A controversial provision discriminates between citizens and migrants, even those living in the country legally, in determining eligibility for benefits.

The tougher version appealed to right-wing parties, who backed it on Monday.

Ms Le Pen welcomed the amended bill, calling it an “ideological victory” for the far-right.

“This is our bill,” said Eric Ciotti, the leader of the right-wing Republican party. He called it “firm and courageous”.

But left-wingers said Mr Macron was enabling the far-right. “History will remember those who betrayed their convictions,” Socialist party leader Olivier Faure said.

32 of France’s 101 departments, including Paris, said they would refuse to implement the provisions of the law on benefits for non-citizens.

The French vote came hours before an EU agreement to reform the asylum system across the bloc’s 27 member states.

The new pact, agreed by EU governments and European Parliament members, includes creating border detention centres and enabling the quicker deportation of rejected asylum seekers.

Hailed as a landmark agreement by Parliament President Roberta Metsola, the new system allows asylum seekers to be relocated from southern member states, which have the highest numbers of arrivals, to other countries.

It still has to be formally approved by the Parliament and member states.

The new French legislation exposed divisions within the governing alliance.

27 MPs voted against while 32 abstained – almost a quarter of pro-Macron MPs.

Health Minister Aurélien Rousseau, who was a member of the Communist Party in his youth, stepped down in protest at the immigration law.

“Some measures in the bill make me very uncomfortable,” said Yaël Braun-Pivet, the president of the lower house of parliament and a member of Mr Macron’s party.

The bill would have passed if Ms. Le Pen’s party had abstained, though not if it had voted against it. The government pointed to the size of its majority to argue that it did not depend on National Rally votes.

Speaking after the vote, the prime minister accepted some measures in the law might not be constitutional.

“We will ask the Constitutional Council,” she told French radio, referring to a top court that upholds the constitution’s principles.

December 22, 2023 0 comments
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Headlines

JUST IN: Supreme Court affirms Mbah’s election as Enugu governor

by Nelson Ugwuagbo December 22, 2023
written by Nelson Ugwuagbo

The Supreme Court has affirmed the election of Peter Mbah of the Peoples Democratic Party (PDP) as the governor of Enugu state.

A five-member panel of the court unanimously dismissed two appeals filed by the Labour Party (LP) and its candidate, Jonathan Edeoga.

Justice Mohammed Garba, in the lead judgment, held that the appellants failed to prove their case and proceeded to uphold the judgment of the Court of Appeal, which equally affirmed the decision of the trial tribunal, dismissing the petition by the LP and Edeoga.

December 22, 2023 0 comments
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Headlines

“Tragic Building Collapse in Lagos Leaves Baby and Another Individual Trapped”

by Nelson Ugwuagbo December 22, 2023
written by Nelson Ugwuagbo

At least three yet-to-be-identified persons including a baby and one adult were trapped in a collapsed building in the Ebute Meta area of Lagos State on Friday.

This is just as one person has been rescued from the debris of the collapsed one-storey building with penthouse.

The Director, Lagos State Fire and Rescue Service, Margaret Adeseye, disclosed this in a message to news correspondant on Friday.

According to Adeseye, the LFRSC received a distressed call around 9am on Friday about a building collapse in Herbert Macaulay Way, Ebute Meta, but when the fire service team arrived at the scene, one person was rescued while three persons were still under the debris while stating that efforts are ongoing to rescue the trapped victim.

She said, “The Lagos State Fire and Rescue Service is currently attending to an emergency which was reported at 09:00 hours to 122, Herbert Macaulay Way, Lagos Bus Stop, Ebute Meta, Lagos where a one storey building with penthouse has collapsed and two adults and a baby, all females are still trapped with search and rescue ongoing.

“However, an adult female has been rescued alive in stable condition as the State Emergency Response fully activated.”

December 22, 2023 0 comments
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Investigation

CBN Investigator Reveals Emefiele’s Expenditure of N1.7bn in Naira Redesign Legal Defense

by Nelson Ugwuagbo December 22, 2023
written by Nelson Ugwuagbo

An independent report has indicted the embattled former Central Bank of Nigeria Governor, Godwin Emefiele, of spending over N1.7 billion on legal fees for suits instituted against the naira redesign policy introduced during former President Muhammadu Buhari’s administration.

According to the report gathered by Leading Reporters on Friday, Emefiele spent questionable legal fees for 19 cases instituted against the policy.

The report quoted Emefiele as also using N1.325 billion, for what was described as “stolen pre-incorporation,” adding that the money was funneled to four companies, including a legal firm that got N300 million.

Between 2015 and 2021, an investment company was said to have collected unlawfully a total of N4.89bn.

A breakdown indicated that the firm received N262mn in 2015, N464mn in 2016, N550mn in 2017, N726mn in 2018, N762 in 2019, N684 in 2020, and N1.44bn in 2021, totaling N4.89bn.

Continuing, the reports further indicted Emefiele of also allegedly paying N17.2bn to 14 deposit money banks participating in the Nigerian Electricity Market Stabilisation Facility.

Among the people who instituted an action against Emefiele on the policy were eight states, including Kaduna, Kogi, Zamfara, Ekiti, Kano, and Ondo, while disagreeing with the deadlines for the use of old Naira notes in the country.

The suit came as a result of the difficulties caused by the policy in the lives of citizens, the practicality of the deadline, and the constitutionality of the policy.

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Aside from the states, another litigant was a Lagos-based lawyer, Tope Alabi, who approached the Federal High Court sitting in Lagos for leave to initiate contempt proceedings against the ex-CBN governor for alleged disobedience of the Supreme Court orders on its naira redesign policy.

Alabi made the application via a March 27 ex parte motion in the suit, with Emefiele listed as the sole respondent.

Describing the naira swap as a “cash confiscation policy,” he said it had affected the day-to-day running of his office as his staff could not make it to work daily due to the non-availability of physical cash, adding that commercial drivers “do not have a point of sale device/machine to collect fares.”

The lawyer filed a 28-page affidavit in support of his application wherein he claimed that the Supreme Court on March 10, in Suit No. SC. 162/2023, “directed Emefiele to make available and allow the old naira notes of N200, N500, and N1000 to co-exist as legal tender with the new N200, N500, and N1000 notes till December 2023.”

“The respondent who had withdrawn N200, N500 and 1000 old notes from circulation on 10 February 2023 has refused to comply with the Order of the Supreme Court made on 10 March 2023 till date by releasing the old notes to circulation.”

The document also stated, “The CBN also went further by authorising the issuance of debenture for the NESI SPV, starting with N64.8bn in 2015. By 2021, N952bn debenture had been issued. The investigator said the money was diverted from public funds.’’

It was further gathered that Emefiele could be tried for alleged manipulation of the naira exchange rate, fraudulent implementation of the e-naira project, and exemption of three foreign firms from paying income tax.

December 22, 2023 0 comments
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Headlines

Government Aims to Achieve 15 Million Increase in School Enrolment by 2027

by Nelson Ugwuagbo December 22, 2023
written by Nelson Ugwuagbo

The Federal Government has expressed commitment to return 15 million out-of-school children back to the classroom by 2027.

The Minister of Education, Prof. Tahir Mamman, disclosed this in Abuja on Thursday at a one-day retreat on Quick Wins in the Ministerial Deliverables (2023-2027).

Mamman explained that the learning crisis had also been a major issue which he said was a bad product of the out-of-school menace, hence, must be taken seriously.

He said  having robust policies in place was not enough to tackle the challenges but delivering on the policies would go a long way in addressing the problems of out-of-school children.

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“The Federal Ministry of Education has further distilled the implementation of the ministerial deliverables to a more detailed implementation with turnaround strategies that would be measurable and capable of providing results that would be very visible to the Nigerian public.

“On out-of-school menace, we would be paying particular attention to this unacceptable phenomenon and in line with President Bola Tinubu’s commitment, would work towards returning 15 million out-of-school children to the classrooms by the year 2027,” he said.

The minister said Tinubu had approved the reintroduction and implementation of school feeding across basic educational levels.

December 22, 2023 0 comments
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Headlines

Same-Sex Storm: Catholic Church Faces Unprecedented Challenges _Fr Kelvin

by Nelson Ugwuagbo December 22, 2023
written by Nelson Ugwuagbo

A Nigerian missionary priest serving in Gambia, Rev Fr Kelvin Ugwu has claimed that the devil would only need to destroy the Catholic church in order to wipe Christianity off the earth.

The Catholic priest stated this in a post on his verified Facebook page while reacting to the controversial document endorsed by Pope Francis regarding same-sex marriage.

Leading Reporters recalls that report emerged earlier in the week, indicating that the Vatican approved blessings for same-sex couples.

This development has stirred controversies across the world, as many Christians, including some Catholic bishops distanced themselves from the document.

Some unbelievers have also taken to social media to ridicule Christians over the development.

But Fr Kelvin in his reaction, urged his followers to steer clear of posts and discussions mocking the Christian faith.

He said, “This is not the time for mockery. Don’t join those who have been looking for this opportunity to ridicule our faith in Christ.

“For Christians all over the world, I say this, if the devil wants to scatter this Christian faith kpatakpata, all he needs to do is to destroy the Catholic church. You may not see it, but I don’t pray you see it ever.”

The priest lamented the ambiguity in the document issued by the Vatican, stressing that the undetailed content birthed the controversies.

“A document that almost every Bishop had to explain and clarify to their diocesan people, the Catholic Bishops conferences had to explain, and priests had to explain to their parishioners both online and offline, is not a good document.

“Yes, the document did not say much or make any clear stipulations, and that is basically the problem with the document. What it did not say is more devastating than what it was trying to say”, he added.

December 22, 2023 0 comments
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Business

Former Presidential Aide Allegedly Influenced Redesign of Naira Notes, According to CBN Report

by Nelson Ugwuagbo December 22, 2023
written by Nelson Ugwuagbo

Former Governor of the Central Bank of Nigeria, CBN, Mr Godwin Emefiele has disclosed that the naira redesign was a directive from one of ex-President Muhammadu Buhari’s former aide.

Emefiele said the former presidential aide gave him the directive in September 2022 during his visit to the Presidential Villa in Abuja.

This was contained in a report by the Special Investigator on CBN and Related Entities, Jim Obazee which was submitted to President Bola Tinubu.

Tinubu had commissioned Obaze to investigate the CBN operations under Emefiele.

Recall that CBN under Emefiele had redesigned N1,000, N500, N200 and N100 notes.

Explaining why the naira denomination was redesigned, Buhari had said the need to fight corruption and insecurity headlong, including controlling inflationary trend partly necessitated the decision to redesign the currency denominations.

Obaze’s report reads partly: “The Naira Redesign was not approved by the Board of CBN and President Muhammadu Buhari in accordance with the law. Buhari only tagged along. Sometimes in September 2022, the erstwhile Governor of the CBN claimed that during his visit to the Presidential Villa, one of the presidential aides told him to go and consider redesigning the Naira.

“On 6th of October, 2022, Emefiele wrote Buhari seeking approval to redesign and reconfigure N1,000, N500, N200 and N100 notes. Buhari approved the proposal same day. But Buhari approved the currency be printed in Nigeria.

“On that 6th October 2022, former President Muhammadu Buhari approved Emefiele’s request and directed that he should redesign and reconfigure the four denominations of the Naira notes as prayed, but should print them locally.

“Emefiele did not consult with the management of the CBN or seek any recommendation from the Board of the CBN as required by Section 19 of the CBN Act, 2007.

“Emefiele did not seek the recommendation of the Board of the CBN nor revert to former President Muhammadu Buhari to inform him nor seek his presidential approval for the new redesigns and the fact that he is now recommending only three denominations

“Emefiele took the redesigns, a mere change of colour to De La Rue in UK for a fee of £205,000. Only N1,000, N500 and N200 notes were redesigned.”

December 22, 2023 0 comments
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Headlines

Philanthropist Remi Tinubu Donates N950m to Support 250 Retirees and Community Initiatives

by Nelson Ugwuagbo December 21, 2023
written by Nelson Ugwuagbo

Wife of the President, Senator Remi Tinubu, on Thursday, donated N950 million to 250 police, military retirees, and other senior citizens across the country in Abuja.
She launched the maiden edition of the Renewed Hope Initiative’s Elderly Support Scheme and disclosed that each beneficiary would receive N100,000. She said that the scheme aims to provide financial assistance to senior citizens, helping them cope with the current economic difficulties.
Mrs Tinubu stated, “This economic empowerment programme is born out of a steadfast commitment to the well-being of our elderly citizens and marks a significant stride in our collective pursuit of a more inclusive and compassionate society.
“This scheme is designed to support 250 vulnerable elderly citizens aged 65 and above in all 36 states of the federation, the Federal Capital Territory, and veterans from the Defence and Police Officers’ Wives Association.
“These selected beneficiaries will receive N100,000 each. This is to cushion the effect of the economic situation and to alleviate the burdens of our esteemed elders during this festive period.”
She noted that the 36 states of the federation would receive N25 million each to distribute to beneficiaries.
Mrs. Tinubu further stated, “Each state of the federation will receive the sum of N25 million. We are committed to ensuring that each state receives this gesture, without discrimination.
“By reaching out to the elderly this festive season, we not only honour their contributions but also acknowledge the unique challenges they face.”
She urged the senior citizens to support and pray for the president.
Mrs. Tinubu said, “This period should be a time of joy and comfort for all, even as we hope for a greater Nigeria, in security, education, health, employment, and business opportunities for all. We seek your continued support and prayers for the administration of President Bola Tinubu, as we look forward to better days ahead.”
The Chief of Defence Staff, General Christopher Musa, stated that the First Lady’s efforts towards the retirees would motivate those still in service.
Gen. Musa, represented by the Director, Veterans Affairs, Defence Headquarters, Major General Danladi Saliu, affirmed that history would favor the First Lady for her gestures to the military.
Gen. Musa said, “I most sincerely appreciate Her Excellency for this gesture towards our retirees. You have demonstrated once again that the welfare of our armed forces both serving and retired and their families are of ultimate priority to you. This noble act is one which you will forever be remembered for.
“And posterity will judge you fairly for repeatedly bringing renewed hope to the members of the armed forces and their families. This will have a multiplier effect on the morale and efficiency of the serving members of the armed forces.”

December 21, 2023 0 comments
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