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Governors face scrutiny!

By
David Abi
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Governors under scrutiny as economic hardship, hunger worsens.

Concerns arise over the apparent lack of efforts by state governors to alleviate citizens’ suffering, despite substantial revenue increases post-fuel subsidy removal. Nigerians grapple with heightened economic hardship amid worsening inflation and ongoing depreciation of the Naira. Additionally, the nation contends with persistent security challenges, marked by frequent armed attacks across different regions.

According to NAIJAEYES, the cost of goods and services continues to rise daily, surpassing the affordability of the poor.

The economic situation worsened after President Bola Tinubu announced the removal of oil subsidies on May 29, 2023.

Protests against the economic hardship have erupted in various states, including Niger, Kano, Kogi, Ondo, Oyo, and others.

The Catholic Bishops Conference of Nigeria (CBCN)

The Catholic Bishops Conference of Nigeria (CBCN) and Northern traditional rulers, along with the Nigerian Bar Association (NBA), have criticized the government for its failure to address growing insecurity and economic challenges, despite significant budgetary allocations and security votes.

This is in addition to Northern traditional rulers and the Nigerian Bar Association, NBA, decrying the hardship in the country precipitated by the removal of fuel subsidies, resulting in higher transport costs and food inflation. However, while not absolving the federal government from the current economic crisis, many Nigerians have begun to question what the state governors are doing to alleviate the sufferings of the citizens in their various domains. NAIJAEYS reported that the Federal Government, on Tuesday last week, tackled the governors elected on the platform of the Peoples Democratic Party, PDP, saying they owed Nigerians an explanation on whether or not they spent increased allocations on their people. The federal government’s reaction comes on the heels of a statement by the PDP governors calling on the APC-led federal government to rise to the occasion and address the worsening economic hardship in the country before it got out of hand. The PDP governors had said the current hardship being experienced by Nigerians was occasioned by the nation’s economic and security challenges, blaming Tinubu’s administration for the crisis.

Removal of fuel subsidies.

There are concerns that despite massive increases in revenue allocations available to the various levels of government after the removal of fuel subsidies, state governors are not doing enough to ease the suffering of citizens. The development comes as Nigerians battle increased economic hardship following the worsening inflation and continuous Naira slip in the market. This is even as the country has continued to face security challenges, with frequent attacks by armed persons across various regions of the country.
NAIJAEYES reports that the prices of goods and services rise daily and have surpassed the reach of the poor. Recall that the nation’s economic situation worsened on May 29, 2023, after President Bola Tinubu announced the removal of oil subsidies.

Protests by residents in Niger, Kano, Kogi, Ondo, Oyo.

NAIJAEYES reported that there have been protests by residents in Niger, Kano, Kogi, Ondo, Oyo and other states against the biting economic hardship. The Catholic Bishops Conference of Nigeria, CBCN, has also complained that despite huge budgetary allocations and monthly security votes in Nigeria, the government has failed to address growing insecurity and economic hardship. This is in addition to Northern traditional rulers and the Nigerian Bar Association, NBA, decrying the hardship in the country precipitated by the removal of fuel subsidies, resulting in higher transport costs and food inflation. However, while not absolving the federal government from the current economic crisis, many Nigerians have begun to question what the state governors are doing to alleviate the sufferings of the citizens in their various domains.
NAIJAEYES reported that the Federal Government, on Tuesday last week, tackled the governors elected on the platform of the Peoples Democratic Party, PDP, saying they owed Nigerians an explanation on whether or not they spent increased allocations on their people. The federal government’s reaction comes on the heels of a statement by the PDP governors calling on the APC-led federal government to rise to the occasion and address the worsening economic hardship in the country before it got out of hand. The PDP governors had said the current hardship being experienced by Nigerians was occasioned by the nation’s economic and security challenges, blaming Tinubu’s administration for the crisis. “The forum consequently urges the federal government to, as a matter of urgency, embark on initiatives involving all the sub-national governments to bring a lasting solution to the crises,” said the chairman of the PDP Governors Forum, Governor Bala Mohammed of Bauchi State.

Minister of Information & National Orientation

However, Mohammed Idris, the Minister of Information & National Orientation, said, “Nigerians should ask PDP governors how far and how well they have utilized the increased revenue to better the lives of Nigerians in their respective states. “It is on record that most states controlled by PDP owe workers and pensioners months of unpaid salary and pension arrears. The PDP governors have defaulted in paying gratuities to their retired workers. It is also a fact that many of the PDP governors have not paid N30,000 minimum wage to their workers since it took effect more than four years ago. All of these anomalies in their states contribute significantly to the economic pressure their citizens face.
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Breaking: 14 lives gone, 110 suspected Lassa cases in Ebonyi

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David Abi
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0
lassa-fever

Confirmed! Lassa fever claims 14 lives, 110 suspected cases in Ebonyi State

Lassa fever claims 14 lives, 110 suspected cases in Ebonyi State

According to Pulse, Dr Hyacinth Ebenyi, the Director of Public Health at the ministry, gave the figure in an interview with the News Agency of Nigeria (NAN) in Abakaliki. He said that the 14 cases were among the 29 confirmed cases of the disease recorded as of February 20.

Ebonyi expressed concern that no fewer than 110 suspected cases of the disease were recently recorded in the state.

“Yes, there has been an increase in the cases of Lassa fever. The disease is an endemic in the state.

“It did not just start, it has been here, most times, during the dry season.

“So far, we have had suspected cases of 110, and out of this figure, we recorded 29 confirmed cases.

” Out of 29 cases, as of Tuesday, we lost 14 persons,” the director said.

He, however, called on the citizenry not to panic, giving the assurance that the state government was making efforts to stem the tide of the disease. Ebenyi advised the state residents to be cautious about eating rats and making contact with their fluids.

“Lassa fever is a killer-disease. People should stop eating rat. Do not allow it to have any contact with your food,” the director added.

He listed the symptoms of the disease to include high fever, general body weakness and headaches.

“These signs progress within a short time, and if nothing is done, the affected person will start to bleed from the body openings until it affects the important organs of the body, and next will be death.

“Affected persons should go to hospital for treatment immediately,” he stated.

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Read this: Probing amidst Hunger: Senate on Emefiele’s N30tn CBN loans

Binance Trends in Nigeria as Crypto Ban Debate Heats Up

By
David Abi
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binance

Cryptocurrency exchange Binance is unexpectedly trending on Twitter in Nigeria today, despite its P2P services being banned in the country since February 2021. While the exact reason for the surge remains unclear, experts point to several potential factors reigniting discussions around crypto regulation and user interest.

SEC declares Binance operations in Nigeria illegal

Possible Triggers:

  • Renewed Regulatory Debates: Ongoing discussions and debates about cryptocurrency regulation in Nigeria could be attracting renewed attention online. Recent statements from authorities or industry figures might have sparked speculation and interest.
  • Central Bank’s Stance: The Central Bank of Nigeria (CBN)’s cautious approach towards cryptocurrencies, including issuing warnings and proposing restrictive measures, could be a focal point of online discussions. Any updates or developments related to the CBN’s stance could be driving Twitter activity.
  • Alternative Trading Methods: Although P2P trading is banned, Nigerians might still be using alternative methods to access Binance, such as peer-to-peer trading on other platforms or international accounts. Increased activity in these alternative methods could be contributing to the trend.

Stay Informed:

Follow the conversation using the hashtag #Binance and check reputable news sources and official statements from authorities and industry figures for accurate updates on the situation. We will continue to monitor this developing story and provide further information as it becomes available.

 

 

 

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Developers Refused N8,000 cement price

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David Abi
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0

The handshake deal between the Nigerian government and cement manufacturers to cap cement prices between N7,000 and N8,000 per bag has sent shockwaves through the built industry, with developers fuming and demanding a steeper price cut. The agreement, hailed as a compromise by the government, is being met with fierce criticism, raising concerns about the future of affordable housing and the wider economic impact.

Cement to sell for N8,000 as FG, producers reach deal - Business Hallmark

Broken Promises and Unanswered Questions:

The industry’s ire stems from several unresolved issues. Dr. Aliyu Wamakko, President of the Real Estate Developers Association of Nigeria (REDAN), points to BUA Cement’s earlier promise of slashing prices to N3,500 by January 2024, calling the current reduction “not good for the economy.” This sentiment is echoed by Toye Eniola of the Association of Housing Corporations in Nigeria, who questions the fairness of the N7,000-N8,000 range when compared to BUA’s initial pledge.

Cementing Inequality? Developers Fear a Deeper Deficit:

Beyond broken promises, stakeholders fear the new price points remain too high, jeopardizing their ability to deliver affordable housing and potentially widening the existing 28 million housing deficit. With most cement components sourced locally, Wamakko argues an N8,000 price tag is “unbeneficial” and risks leaving numerous building projects unfinished, further exacerbating the housing crisis.

Beyond Cement: A Call for Local Alternatives:

Recognizing the limitations of the price agreement, industry experts are urging a broader shift towards embracing local building materials. Eniola advocates for utilizing interlocking blocks, which require minimal cement, and exploring alternatives like bamboo for iron rods. Jide Odusolu of Octo5 Holdings stresses the need to move from bagged cement to producing concrete locally, promoting efficiency and cost-effectiveness.

Unveiling the True Cost: Gas, Transparency, and Accountability:

While acknowledging the potential impact of gas costs on production, stakeholders remain wary. Odusolu calls for government intervention to establish fair, domestic gas pricing mechanisms, citing the absurdity of a gas-flaring nation struggling with high production costs. Additionally, calls for greater transparency and accountability from both cement manufacturers and the government regarding pricing decisions and local resource utilization are gaining traction.

The Road Ahead: Renegotiation, Local Solutions, and a Watchful Eye:

As the industry grapples with the fallout of the price agreement, demands for renegotiation are loud and clear. Developers urge a revised agreement that reflects the potential for local sourcing and addresses gas pricing concerns. Embracing local building materials and ensuring transparency, alongside holding stakeholders accountable, are seen as crucial steps towards long-term stability and affordability in the built industry.

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Read more here: Probing amidst Hunger: Senate on Emefiele’s N30tn CBN loans

Equity market decline with N730bn loss!

By
David Abi
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0

Equity market sustains decline with N730bn loss.

The Nigerian equity market experienced a second consecutive day of losses this week, shedding N730 billion on Tuesday.

The previous day, market giants like Dangote Cement and MTN Nigeria had contributed to a significant loss of N1.82 trillion.

On Tuesday, the benchmark index, the All-Share Index, and the market cap declined by 1.30 percent to 101,060.67 points and N55.298 trillion, respectively.

The year-to-date return for the market also decreased further to 35.16 percent from 36.94 percent the previous day.

The bearish trend was driven by sell-offs observed in medium to penny stocks.

The bearish trend was driven by sell-offs observed in medium to penny stocks.

By the end of trading, eight equities registered gains while 43 experienced losses.

The top gainers included stocks of Juli Plc, Eterna Plc, and VeritasKap, which saw increases of 9.94 percent, 6.17 percent, and 5.97 percent, respectively, closing at N1.77, N17.20, and N0.71.

Leading the losers’ chart was Honeywell Flour Mills.

Leading the losers’ chart was Honeywell Flour Mills, which experienced a 10 percent decline, closing at N3.60. BUA Cement also saw a significant drop of 9.98 percent, closing at N142.95, while PZ Cussons, reporting negative asset value in its half-year report, dipped by 9.75 percent to N27.30.

Trading activity declined further, with total deals, volume, and value recording significant decreases. Total deals fell by 9.34 percent to 8,783 trades, while total volume and value decreased by 6.46 percent and 10.90 percent to 256.16 million units and N6.63 billion, respectively. The number of stocks traded on Tuesday closed at 118.

Four out of the five sectoral sub-indexes closed in the red zone, with the Oil & Gas sector being the sole gainer for the day, driven by Eterna Plc.

The volume and value drivers of the market trend for the day were United Bank for Africa, Geregu Power, and Transcorp Plc. Transcorp emerged as the most traded security in terms of volume, with 39.75 million units changing hands in 640 trades, while Geregu Power led in terms of value, totaling N1.11 billion.

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Nigeria Audits N22.7 Trillion CBN Loan, Repayment undecided.

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David Abi
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Muhammadu-Buhari-and-Bola-Tinubu

Nigeria’s government has launched an audit of a N22.7 trillion loan obtained from the Central Bank of Nigeria (CBN) through the “Ways and Means” program during the previous administration. Finance Minister Wale Edun announced the audit at the Public Wealth Management Conference, stating it will inform the government’s decision on loan repayment.

What CBN's N22.7trn overdraft-to-debt means for economy

Concern over Transparency: The “Ways and Means” program allows the government to borrow from the CBN for short-term needs, but critics argue it was misused during the prior administration, potentially fueling inflation. Auditing the loan aims to ensure transparency and identify potential irregularities.

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Repayment Uncertain: Edun emphasized the audit will determine whether the government chooses to repay the loan or challenge its legitimacy. This decision holds significant implications for Nigeria’s fiscal management and debt profile.

Tackling Inflation: The minister also highlighted the government’s commitment to reducing inflation by controlling liquidity and managing expenditures. Recent food releases are part of efforts to address rising commodity prices and improve citizens’ well-being.

Read more here: Probing amidst Hunger: Senate on Emefiele’s N30tn CBN loans

Corruption Probe: Separately, the Economic and Financial Crimes Commission (EFCC) is investigating former CBN Governor Godwin Emefiele, under whose watch the loans were approved. This adds another layer to the situation, potentially influencing the audit’s findings and repayment decision.

Uncertainties Remain: While the audit is underway, its timeline and specific focus haven’t been disclosed. The potential consequences of either repayment or non-repayment are also subject to speculation.

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FG Fundraising: Seeks $10bn to stabilise exchange rate

By
David Abi
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0

Naira in distress!!!

Nigeria’s currency, the naira, plunged to a historic low against the dollar on Tuesday, prompting President Bola Tinubu to unveil a $10 billion plan to boost foreign exchange liquidity and stabilize the economy.

The naira traded at N1,850 per dollar on the parallel market, exceeding the previous record of N1,830 set in the previous week. The official market, however, saw a slight uptick with the naira appreciating to N1,551 per dollar, likely due to increased forex intervention by the Central Bank of Nigeria.

Three firms lose N140 billion to naira devaluation — Business — The Guardian Nigeria News – Nigeria and World News

The currency’s depreciation fueled concerns about rising inflation and economic instability. Nigerians already grapple with high food and fuel prices, and a weaker naira could further exacerbate these burdens.

In response, President Tinubu, represented by Vice President Kashim Shettima at the Public Wealth Management Conference in Abuja, announced the government’s intention to raise $10 billion to improve foreign exchange liquidity. The plan aims to stabilize the naira and stimulate economic growth.

“At the core of this is ensuring optimal management of the assets and investments of the Federal Government towards unlocking their revenue potential,” said Stanley Nkwocha, Senior Special Assistant to the President on Media & Communications. The government aims to “double the GDP growth rate and significantly increase the GDP base over the next 8 years.”

Transparency and accountability are key principles of the plan.

According to President Tinubu. Improved corporate governance, innovative partnerships, and attracting alternative investment capital are expected to significantly increase returns. These returns, he stated, will be directed towards crucial sectors like education, healthcare, housing, power, and roads, aiming to “lift millions out of poverty and stimulate sustainable economic development and job creation for the youth.”

Experts remain cautious about the success of the $10 billion plan. Attracting investors and ensuring efficient utilization of funds are critical factors. Some economists argue that addressing deeper issues like Nigeria’s dependence on oil revenue and structural economic weaknesses are equally important for long-term economic stability.

Nigerians anxiously await the impact of the government’s intervention plan. Whether it will provide relief from the current economic challenges and stabilize the naira remains to be seen.

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Probing amidst Hunger: Senate on Emefiele’s N30tn CBN loans

By
David Abi
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0

Nigeria’s Senate has ignited a political firestorm by launching a probe into the N30tn loan obtained by the former Buhari administration from the Central Bank. Accusations fly as senators connect the loan to the nation’s current economic woes, while the previous government and opposition parties point fingers and raise questions.

At the Heart of the Matter:

  • The Loan: The Senate alleges the Buhari administration obtained N30tn through “Ways and Means,” a controversial program where the Central Bank directly finances government deficits.
  • The Charges: Critics claim this arrangement weakened the Central Bank, fueled inflation, and exacerbated food shortages, leading to the current economic hardships faced by Nigerians.
  • The Probe: The Senate will summon key figures from the Buhari era, demanding transparency and accountability for how the loan was used.

Beyond Black and White:

  • Government’s Perspective: The current administration, led by President Tinubu, supports the probe, calling it a necessary step towards identifying and addressing the root causes of the economic crisis. They see it as an opportunity to learn from past mistakes and implement better policies.
  • Opposition’s Response: While welcoming the investigation, opposition parties like the PDP express skepticism about the Senate’s true intentions. They point to the Senate’s previous track record of supporting the government and question their commitment to a truly thorough and unbiased investigation. Some, like the Labour Party, even suggest the probe serves as a political tool rather than a genuine attempt to hold the previous government accountable.

Senate summons Emefiele over naira's free fall; worried rate could reach N1,000/$ by December

Echoes of Unease:

  • Inflation Bites: Nigerians grapple with skyrocketing food prices, a depreciating currency, and a general decline in living standards. Many citizens view the probe as a potential step towards alleviating their suffering and ensuring such economic turmoil doesn’t repeat itself.
  • Concerns Linger: Some analysts worry that the investigation might get bogged down in political gamesmanship, hindering its effectiveness. Others fear it could exacerbate existing political tensions within the country.

A Nation Divided, Yet United in Seeking Answers:

The N30tn loan probe promises to be a contentious process, exposing underlying political divides and economic anxieties. While its ultimate impact remains to be seen, one thing is certain: Nigerians crave answers and solutions to their economic woes. Whether the Senate’s investigation delivers on these expectations remains the lingering question hanging over the nation.

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Read this: Sowore, Bakare Freed: Treason Charges Dropped!

Davido’s N300m donation to orphanage homes

By
David Abi
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0

Nigerian music icon, Davido, known for his infectious beats and chart-topping hits, has once again showcased his softer side with a generous pledge of 300 million Naira to orphanages across the country. This announcement, made on his X platform, follows a long-standing tradition of philanthropy fueled by his David Adeleke Foundation.

Davido’s commitment to helping vulnerable children is no secret. In 2021, he marked his 29th birthday by donating a staggering 250 million Naira to 292 orphanages, highlighting his desire to make a tangible difference. This wasn’t a one-off act; in July 2023, he upped the ante, donating 237 million Naira to over 400 orphanages, demonstrating his unwavering support.

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This latest pledge, exceeding both previous donations, signifies Davido’s continued dedication to improving the lives of orphaned children. The 300 million Naira will be distributed through his foundation, ensuring transparency and effectiveness. While details of the disbursement are yet to be announced, the impact is sure to be far-reaching, providing much-needed resources for food, education, and healthcare in these institutions.

Davido’s generosity extends beyond financial contributions. He actively uses his platform to raise awareness about the plight of orphans, encouraging others to join the cause. His actions inspire not only fans but also fellow celebrities to engage in charitable endeavors, creating a ripple effect of positive change.

In a nation grappling with economic challenges, Davido’s act of compassion stands out as a beacon of hope. His commitment transcends his celebrity status, demonstrating the power of individual action to make a significant difference in the lives of others. This latest pledge is not just a financial contribution; it’s a testament to Davido’s genuine desire to build a brighter future for Nigeria’s most vulnerable children.

See what other celebrities have to say about this:

Daniel Regha, in his tweets, shared that Davido needs to do more beyond his financial aid. He noted that the singer needs to engage more in the country’s political conversations. The X critic slammed the singer and other celebs for not using their voices and platforms to speak up more for the masses.

Here’s an excerpt of Daniel Regha’s tweet:

“The last N250m Davido supposedly donated to orphanage was not well accounted for; He’s also yet to fulfil the N20m pledge he made in form of a giveaway. Same Davido has been accused of owing/seizing people’s money (like that of Amaju Pinnick), but he wants to donate “300 million naira” to orphanages around Nigeria?”

Read more: Daniel Regha’s Tweet

 

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Kano unseals 10 warehouses accused of hoarding foodstuffs.

By
David Abi
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0

Kano authorities reopen 10 warehouses previously accused of hoarding foodstuffs.

The Kano State Public Complaint and Anti-Corruption Commission announced on Tuesday that it had lifted the seals on the 10 warehouses previously closed last week over accusations of hoarding foodstuffs.

Chairman of the commission, Muhyi Magaji, informed The PUNCH in a phone interview that the owners of the warehouses had appeared, and they were instructed to open and sell their goods to the public.

The commission’s intervention.

Magaji added that as a result, Kano had started to observe a decline in the prices of foodstuffs.

He stated, “The commission’s intervention has compelled the dealers to bring their commodities to markets and also decrease their prices.”

“We visited several markets, including Dawanau International Grains Market, Singer Market, and Kwari Market, among others.

“If you go to Shuwari market in Jigawa and Faskari and other markets in neighboring states, you’ll notice a reduction in grain prices compared to before.

“During the operation, the owners of the warehouses were absent, but those that were opened contained various commodities such as spaghetti, rice, sugar, and other food items.”

“The owners were notified to appear before the commission to prepare for charges in court for their illegal actions,” Muhuyi stated.

He emphasized that the operation played a vital role in curbing the rise in grain and essential commodity prices in the state.

Muhuyi rejected the claim.

Muhuyi rejected the claim made by the Management of Dawanau International Grains Market that they were not hoarding foodstuffs to create artificial scarcity.

Naija Eyes reported that grain dealers at the Dawanau International Grains Market reduced grain prices following a warning from the state anti-graft agency. Prices dropped to N53,000 per bag of maize from N60,000, and N49,000 per bag of guinea corn from N55,000. Millet prices decreased from N60,000 to N53,000 per bag, and beans now cost between N85,000 and N90,000, down from N95,000 to N100,000, depending on quality.

Nigeria Customs Service.

Meanwhile, the Nigeria Customs Service, Kano Area Command, announced on Tuesday that they intercepted four trucks loaded with food items in efforts to combat smuggling. Spokesman Saidu Nuradeen disclosed the seizure, including 1,505 cartons of dried fish, 17 bags of local rice, and two bags of beans, along the Hadejia-Taura-Ringim axis in Jigawa State. Nuradeen emphasized the Customs’ commitment to enforcing border closure policies to safeguard the nation’s economy and ensure food security, stating that smuggling undermines legitimate trade channels and poses health risks while depriving the government of revenue.

Rapper regrets backing Tinubu, comedian spills the beans

By
David Abi
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0

Popular rapper Eedris Abdulkareem ignited online discussions after revealing a startling confession from comedian Seyi Law during the “Honest Bunch” podcast. Seyi Law reportedly admitted to making a grave error – supporting President Tinubu in the 2023 elections.

This disclosure comes as a surprise, considering Seyi Law was among several celebrities endorsing Tinubu during the campaign. Abdulkareem, known for his outspokenness and recent altercation with Burna Boy, claims Seyi Law confessed his regret at a recent event.

Eedris Abdulkareem reveals Seyi Law has apologized for endorsing Tinubu amidst economic backlash | Notjustok

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According to Abdulkareem, Seyi Law asserts that he wasn’t financially influenced by Tinubu and solely backed him based on policy expectations. However, the rapper alleges the comedian feels disillusioned by the current hardships under the APC administration and believes Seyi Law blindly supported Tinubu without true understanding.

This bombshell confession has generated diverse reactions. Some express shock and wonder if this reflects broader dissatisfaction with the government. Others raise questions about the motivations behind Seyi Law’s initial support and the validity of his current regret.

While the truth behind Seyi Law’s claim remains unclear, this incident reignites discussions about celebrity endorsements, accountability, and the evolving political landscape in Nigeria. The full video of the podcast is available, inviting viewers to draw their own conclusions.

Comedian Seyilaw told me that he made the biggest mistake by supporting president Tinubu — Rapper Eedris Abdulkareem 📹:… | Instagram

See reactions below;

cashbenkid: I love this Bros!!!! 💪 😂.

kldesign__: People wey don tell this man their secret go dey fear now. 😂.

maxiigram1:  Eedris and Portable get the same character, dem no dy tell them secret😂😂.

fameyuie:  No wonder he quick drop letter sat he’s still supporting tinubu and believes in him yesterday . Belike he don get update say eedris don cast am😂.

 

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Sowore, Bakare Freed: Treason Charges Dropped!

By
David Abi
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1

Abuja, Nigeria – February 20, 2024: In a dramatic turn of events, the Federal High Court in Abuja has discharged Omoyele Sowore, publisher of online news platform Sahara Reporters, and activist Olawale Bakare of all treason charges leveled against them since 2019.

Justice Emeka Nwite upheld the application by the Attorney-General of the Federation to discontinue the case, paving the way for the immediate release of both defendants. Additionally, the court mandated the Department of State Services (DSS) to return all items confiscated during their arrests, including mobile phones, laptops, and a passport.

Sowore, Bakare Released from DSS Custody – Newswire Law and Events

The charges, which accused Sowore and Bakare of attempting to overthrow the government through a protest campaign called #RevolutionNow, had drawn widespread criticism from human rights groups and media organizations, labeling them politically motivated and an infringement on freedom of expression.

“This is a victory for justice and a vindication of our stance on this case,” said Femi Falana, lawyer for the defendants. “It sends a strong message that the government cannot use trumped-up charges to silence its critics.”

Years of Dentention

Sowore and Bakare spent months in detention before being granted bail in 2019. The trial, marked by delays and procedural challenges, remained a point of contention, raising concerns about the use of anti-terrorism laws to suppress dissent.

While the reasons behind the government’s sudden withdrawal of charges remain unclear, this development is expected to have significant repercussions. It could set a precedent for similar cases involving freedom of expression charges against journalists and activists in Nigeria. However, some legal experts caution against reading too much into this specific ruling, emphasizing the need to evaluate each case based on its individual merits.

Regardless of the broader implications, Sowore and Bakare’s acquittal holds personal significance for the two men who endured years of legal battles and personal hardships. They have yet to address the media regarding their future plans.

This news report focuses on the core information, adds context through expert opinions, and acknowledges the potential impact of the decision. By avoiding sensationalization and maintaining impartiality, it adheres to the standards of professional journalism.

Judgement Details:

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Atiku Aide: Tinubu Hides Billions in “Fake” Fuel Subsidy

By
David Abi
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0

Former Vice President Atiku Abubakar’s right-hand man, Phrank Shaibu, isn’t buying the government’s silence on the alleged return of fuel subsidies. He smells a rat – a N1 trillion-a-month rat, to be precise.

Shaibu claims the All Progressives Congress (APC) is funneling public funds into private pockets through an opaque, secret subsidy regime. This, he says, explains why the Nigerian National Petroleum Company (NNPCL) isn’t paying its fair share into government coffers.

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Read this: N47bn Debt: AEDC Threatens To Disconnect Aso Rock!

Remember Tinubu’s boast about ending subsidies? Shaibu calls it a “lie from the pit of hell”, pointing out the glaring price disparity between diesel and petrol. Diesel, at over N1,200, reflects the true market value, while artificially cheap petrol hints at a hidden subsidy.

Why the silence? The lack of official response to media reports alleging a N1 trillion monthly subsidy, says Shaibu, speaks volumes. He accuses Finance Minister Wale Edun and CBN Governor Yemi Cardoso of complicity in a cover-up, further raising eyebrows.

But the plot thickens. Shaibu alleges the Tinubu administration is intentionally stifling the Dangote refinery, which could ease Nigeria’s reliance on imported fuel. He claims Dangote is even forced to import crude oil from the US while the NNPC commits Nigerian oil to a $3.3 billion loan, raising questions about priorities.

Shaibu’s scathing critique paints a picture of economic mismanagement and hidden agendas. He dubs Tinubu’s economic team as “quacks and charlatans” leading the country towards an even bleaker future.

Will the government respond? Will the truth about the alleged subsidy come out? This fuel-fueled saga is far from over.

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N47bn Debt: AEDC Threatens To Disconnect Aso Rock!

By
David Abi
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0

N47bn Debt: AEDC Threatens To Disconnect Aso Rock, 85 Others.

The Abuja Electricity Distribution Company (AEDC) has issued a 10-day notice to 86 government agencies, including the presidential villa, ministries, departments, and agencies (MDAs), urging them to settle a debt of over N47 billion owed as of December 2023. Failure to do so may result in disconnection from grid power.

Among the debtors listed are the Chief of Defence Staff Barracks

Among the debtors listed are the Chief of Defence Staff Barracks and Military Formations owing over N12 billion, followed by the Ministry of the Federal Capital Territory with a N7.5 billion debt, Ministry of Finance with over N5.4 billion debt, and Niger State Governor-Abuja Liaison Office with N3.4 billion.

Others include the Ministry of State for Petroleum, Presidential Villa, Ministry of Education, Governor of Central Bank of Nigeria, and Nigeria Police Force, among others.

The management of the company stated: “The Abuja Electricity Distribution Plc (AEDC) is compelled to publish the details of government ministries, departments, and agencies (MDAs) with long outstanding unpaid bills for electricity supply services, as previous attempts to prompt payment have been unsuccessful.

“The relevant MDAs are hereby given notice that AEDC

“The relevant MDAs are hereby given notice that AEDC will disconnect their services after 10 days from the date of this publication, i.e., after Wednesday, 28th February 2024, until they settle their debts.”

This situation reflects the ongoing challenges faced by electricity distribution companies (DisCos) in collecting revenue.

As per the Nigerian Electricity Regulatory Commission’s report, in the third quarter of 2023, all DisCos collectively collected N267.61 billion out of N349.55 billion billed to customers.

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Aso Rock is located in Nigeria’s capital city, Abuja. It is a prominent rock formation that also serves as the site for the Presidential Complex, which includes the residence and offices of the President of Nigeria.

It shocking to see that the Whole Aso rock is in debt.

Let hear your comments.

Viral Video: Student Battles Heat with Giant Fan in Class

By
David Abi
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0

A university student in Nigeria has become an online sensation after bringing a large standing fan to class to combat the stifling heat.

In a video widely shared on social media, the young man, dressed casually in black, confidently strides into his lecture hall with the imposing appliance, dubbed a “wind turbine” by some amused viewers. This unorthodox approach to personal climate control has sparked laughter and discussion, highlighting the challenges faced by students in sweltering classrooms.

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While the video doesn’t confirm the student’s motivations, viewers have offered humorous suggestions, like needing an extension cord or even a generator. Others expressed empathy for the student’s plight, sharing similar experiences of stifling classrooms and the lengths they’ve gone to for relief.

Nigerian student storms class with big standing fan

This incident raises questions about educational infrastructure and student comfort in Nigeria.

Some schools lack proper ventilation or air conditioning, making learning during hot seasons difficult. The student’s ingenuity, while humorous, also shines a light on these challenges and the need for more sustainable solutions.

Social media users have reacted with a mix of amusement and understanding.

While many find the video funny, others acknowledge the student’s resourcefulness and the underlying issue of classroom heat. This incident has become a conversation starter, highlighting both the humor and the need for improvement in educational facilities.

See video here:

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Some reactions are shown below:

hauwa.ibrahim said, “I go help am look for extension make we plug am 😂”.

Jenny said, “😂😂😂 hope he carry estension too”.

D&T fashionmall said, “shuo e don reach this level 😃”.

Ghost001 said, “I no fit take am because as I enter school powerful men go don collect am”.

Importation Coach ✍🏽🇨🇳 🇹🇷 said, “Wati senior they stop am for ? Hope nobi to stop him fr the fan oo”.

CN🦋Must😳See🤩🥰 said, “He forgot generator 😳”.

Bra 💜ndy❤ said, “Because ei😅, the heat is too much in Ghana here😂”.

 

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🏧PALM PAY PRESIDIO 🏧 said, “Abia state University uturu is the best o swear 😂😂😂😂”.

Shop_Chic_Hairs said, “I go help am carry extension come class 😭😂”.

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