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Thursday, March 28, 2024

Nigerian newspapers headlines Monday morning

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PMB Constitutes Judicial Inquiry Into Allegations Against Magu [Leadership]

President Muhammadu Buhari has set up a judicial commission of inquiry under the Tribunals of Inquiry Act (Cap T21, LFN, 2004) to investigate alleged financial impropriety and mismanagement of recovered assets leveled against the suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu.

Members of the panel include: Justice Isa Ayo Salami (rtd) – North Central (Kwara) – chairman; DIG Anthony Ogbizi Michael (NPF)- South -South – deputy chairman; Muhammad Abubakar Babadoko (FMOJ)- North Central- member; Hassan Yahaya Abdullahi (DSS) – North Central (Member); Muhammad Shamsuddeen (OAGF)-North West (Member); Douglas Egweme (NFIU) – South-East (Member) and Barr Kazeem Attitebi – SouthWest – Secretary.

Magu was arrested on July 6, 2020 in front of the Wuse office of the EFCC and directed to appear before the Salami- led Presidential panel.

Certain witnesses had testified against Magu while the latter was said to have been served with the allegations and terms of reference on August 8, 2020.

Multiple sources close to the presidency also disclosed that the panel has been given 45 days to submit its report.

It is not certain if the number of days already spent by the panel so far would be deemed as part of the 45-day timeline as the panel has been sitting in private, barring journalists from covering its proceedings.

Allegations against Magu included alleged discrepancies in the reconciliation records of the EFCC and the Federal Ministry of Finance on recovered funds, declaration of N504 billion as recovered funds instead of N543 billion found in the CBN recovery account.

He was also accused of insubordination to the Office of the Attorney General of the Federation, (AGF).

Magu was accused of not providing enough evidence for the extradition of Diezani Alison-Madueke and alleged late action on the investigation of P&ID leading to legal dispute.

The allegations were listed in the memo sent to President Buhari.

 

Insecurity: President Seeks Royal Fathers’ Support [Leadership]

President Muhammadu Buhari has solicited the support of traditional institutions in the fight against insecurity in the country.

He stated this at the weekend during the wedding fatiha of the children of the families of Ambassador Shehu Malami and Late Alhaji Musa Abubakar.

Minister for Justice and the Attorney-General of the Federation (AGF), Abubakar Malami (SAN), led the minister of Police Affairs, Muhammad Maigari Dingyadi and the Inspector General of Police (IGP), Muhammad Adamu to represent President Buhari at the wedding.

A statement signed by the AGF’s spokesman, Dr Umar Jibrilu Gwandu, noted that that Buhari acknowledged the contributions of the traditional and religious leaders while speaking at the palace of the Sultan of Sokoto, Muhammad Sa’ad Abubakar.

He commended the role of traditional institutions in maintaining peace and order in the country.

He said the federal government has not relented in its fight against armed banditry and other forms of criminalities in the country.

“Mr President has directed us to express gratitude to you for all the support you have extended to his government, specifically on security matters and other associated social ills that have been bedeviling this country”, Malami said.

While conveying the felicitations of the President to the Sultan, Malami further stated that President Buhari also appreciated the monarch’s contribution towards the attainment of peace in the country.

In his remarks, the Sultan expressed support to the success of President Buhari-led administration, adding that “we will continue to do our best to see that peace, stability and development reign in Nigeria.”

 

Insecurity: President Seeks Royal Fathers’ Support [Leadership]

President Muhammadu Buhari has solicited the support of traditional institutions in the fight against insecurity in the country.

He stated this at the weekend during the wedding fatiha of the children of the families of Ambassador Shehu Malami and Late Alhaji Musa Abubakar.

Minister for Justice and the Attorney-General of the Federation (AGF), Abubakar Malami (SAN), led the minister of Police Affairs, Muhammad Maigari Dingyadi and the Inspector General of Police (IGP), Muhammad Adamu to represent President Buhari at the wedding.

A statement signed by the AGF’s spokesman, Dr Umar Jibrilu Gwandu, noted that that Buhari acknowledged the contributions of the traditional and religious leaders while speaking at the palace of the Sultan of Sokoto, Muhammad Sa’ad Abubakar.

He commended the role of traditional institutions in maintaining peace and order in the country.

He said the federal government has not relented in its fight against armed banditry and other forms of criminalities in the country.

“Mr President has directed us to express gratitude to you for all the support you have extended to his government, specifically on security matters and other associated social ills that have been bedeviling this country”, Malami said.

While conveying the felicitations of the President to the Sultan, Malami further stated that President Buhari also appreciated the monarch’s contribution towards the attainment of peace in the country.

In his remarks, the Sultan expressed support to the success of President Buhari-led administration, adding that “we will continue to do our best to see that peace, stability and development reign in Nigeria.”

 

Magu: Buhari gives panel 45-day ultimatum [Sun]

President Muhammadu Buhari has ordered the Justice Ayo Salami-led panel of enquiry investigating suspended acting chairman of the Economic and Financial Crimes Commission (EFCC) to submit report of its findings within 45 days from the day it began work.

It is not certain if the numbers of days already spent by the panel, so far, would be deemed as part of the 45-day timeline as the panel has been sitting in private, barring journalists from covering its proceedings, a source said.

In what many have described as a critical stage in the ongoing investigation, Buhari has also approved the establishment of a Judicial Commission of Enquiry under the Tribunals of Inquiry Act (Cap T21, LFN, 2004) to investigate the alleged financial impropriety and mismanagement of recovered assets levelled against Magu.

Magu’s woes began over a month ago when he was accosted in front of the Wuse II office of the EFCC and compelled to appear before the panel.  He was initially detained for several days before he was granted administrative bail. Since his release, he has repeatedly maintained his innocence despite mounting ‘incriminating’ evidence.

Already, key witnesses including staff of the EFCC, senior lawyers and others have testified against him.

Magu’s near  five-year reign has been described by observers as rancorous. He was also accused of abusing his powers, flouting court orders and using fronts to collect bribes from suspects.

Meanwhile, the embattled police officer, Daily Sun, reliably gathered, was served on Saturday, August 8, served with the allegations and terms of reference.

Multiple sources close to the Presidency also disclosed to Daily Sun that President Buhari has further named more persons to serve as members of the panel. They are Justice Isa Ayo Salami (retd)- North Central (Kwara). He is the chairman. Anthony Ogbizi Michael, representing the Police Force and from South South  will serve as deputy chairman. Others are Muhammad Abubakar Babadoko (Justice Ministry) – North Central and member; Hassan Yahaya Abdullahi (Department of State Services) – North, Muhammad Shamsuddeen (Attorney-General of the Federation’s office)- North West; Douglas Egweme (Nigerian Financial Intelligence Unit)- South East and Kazeem Attitebi from South West is the secretary.

Details of a petition submitted to the investigative panel by Minister of Justice and Attorney-General of the Federation (AGF), Abubakar Malami, had alleged lack of proper record keeping and discrepancies in the recovery figures, which it claimed were a dent on the anti-corruption drive as they raised integrity issues that could lead to loss of public confidence.

“For instance, EFCC stated 836 as the number of recovered real estate in the original returns it made to Mr. President on 07/04/2017. However, in its 1st returns to PCARA on 13/12/2017, EFCC gave the figure of 339, while in the 2nd returns to PCARA on 09/03/2018, it stated the recoveries to be 504. The 1st and 2nd returns total 843,” part of the petition written by Malami read.

Magu in his response to the panel, had also said: “In the exercise of my official functions as acting chairman of the Commission, I have stepped on toes in ensuring that corruption is fought to a standstill in Nigeria.

“Some of the suspects under investigation and prosecution are always ganging up to fight me back, publishing false, untrue, malicious and libellous allegations against me. I have never abused the office I am occupying at the pleasure of Mr. President.”

 

COVID-19: Low turnout as churches reopen in Lagos [Sun]

.MFM, Synagogue, Daystar, others remain shut

Churches in Lagos resumed, yesterday, after five months of lockdown occasioned by the COVID-19 pandemic, but recorded low turnout of worshippers.

Worshippers attributed the low turn out to the guidelines prohibiting persons above 60 and children below 15 years old from attendance.

Churches visited by Daily Sun had hand washing buckets, automated hand sanitising dispensers and infrared thermometers, while worshippers donned face mask, which  are part of COVID-19 protocols for public gathering.

The Redeemed Christian Church of God, Latter House Parish, Ago Palace Way, Anglican Church, Oke Afa, Catholics and Methodists churches, Isolo, recorded low turn out.

A member of the Redeemed Christian Church of God (RCCG), Ago Palace Way, Jide Sholanke, said apart from the guidelines, people were still afraid of coming to church because of the fears of contracting the virus.

However, while some churches like RCCG,  Methodists, Anglicans, Catholic and others reopened, Mountain of Fire and Miracles Ministries (MFM), Daystar Christian Centre, Synagogue Church of All Nations, Fountain of Life Church, The Covenant Church, Household of God and others did not open for different reasons.

MFM had announced that members would not gather for service in any of its church regions, branches and zones across Lagos and Ogun until September 13 in order to put in place preventive measures against the spread of the pandemic.

Daystar on its twitter handle said: “We are aware of the Lagos State Government’s announcement that churches can resume physical services. However, the leadership of Daystar has resolved not to open her worship centres for physical gathering on the immediate.“

Pastor TB Joshua of Synagogue on his twitter handle, commended the state government and authorities for their efforts so far…

“However, having heard from the authorities, we are now waiting to hear from God. Please be assured that as soon as we hear from God, we will inform you when our services will resume. Emmanuel – God is with us.”

Also, Fountain of Life Church on its twitter handle said: “We acknowledge the announcement of the Lagos State government with respect to the resumption of physical church meetings. We will communicate the date for the commencement of our physical church services in due course.”

General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, in a video message titled: “From Lockdown to Leaping Up” urged all church members to start attending service from August 9, adding that people should not be deceived into thinking that attending service at home has become a permanent routine.

According to him, although some services would continue to hold online, congregants must be physically present in church as it attracts more blessings.

At the Living Faith Church, A.K.A. Winners Chapel, Dominion Centre, in FESTAC Town, the Provincial Head, Pastor Alex Aina, said worshippers were excited to resume and, therefore, complied with guidelines.

Aina said the church had installed 15 automated hand washing units with soap and automated hand sanitiser dispensers at the entrance and within the church premises.

At the Word Base Assembly, Frederick Fasheun Avenue, Ago, the church which used to hold only one service, split its service into two in compliance with guideline on having 50 per cent capacity.

General Overseer of the church, Bishop Humphrey Erumaka who wore a face shield along with other pastors, said throughout the lockdown, the sanitation department of the church consistently ensured that inside the building and the surroundings were properly sanitised and cleaned. He said the church also provided palliatives on a regular basis for those in need in the Ago community.

At Okota Baptist Church, off Ali Dada junction, Ago Palace Way,  ushers were seen at the entrance taking the temperature of members and ensuring that their hands were sanitised. Inside the church, seats were spaced out and many members were seen wearing their face masks.

At the Redeemed Christian Church of God (Victory Assembly), Monsuru Bisiriyu Street, Ago Palace Way, the situation was the same.

There was also compliance to COVID-19 safety protocols  at The Redeemed Evangelical Mission (TREM) and God’s Possibility Believers Church also at Ago.

But a visit to churches in Alimosho Local Government Area showed strict compliance only in the big and registered churches.

At St. Joseph’s Guardian of the Redeemer Catholic Church, Agodo-Egbe, some parishioners arrived at 5.40am for the first mass meant for 6.30am wearing face mask and went through COVID-19 protocols of submitting their names, phone numbers, home address and hand washing. The parishioners sat three in a pew and observed social distancing during Communion.

St. Dominic’s  Catholic Church, Yaba, Lagos held  Masses at five different centres  simultaneously.

The parishioners complied with  COVID-19 protocols such as wearing of face masks, observing social distancing  and others.

Rev. Fr. Charles Onwordi in his homily in one of the Mass centres   welcomed the parishioners  with a Homily titled: “Fear not, cry out to God for an end to this pandemic.’’

He said the  pandemic was an  experience to draw the world closer to God.

At the Lord Chosen Charismatic Movement Ijesha, the social distancing too were observed as one third of the church members were in attendance, but children were not allowed into the church.

The General overseer, Pastor Lazarus Muoka, prayed for the recovery of the economy of Nigeria and those of other nations, which have drastically gone down as a result of the COVID-19.

Meanwhile, the Methodist Prelate of Nigeria, Uche Chukwuemeka Kanu, has called on citizens of the world to maintain discipline and keep to the COVID-19 guidelines.

 

Boko Haram: North East govs rally support for military [Sun]

  • Ask FG to deploy modern warfare to end insurgency

North-East Governors’ Forum (NGF) has called on the Federal Government to support troops fighting Boko Haram and other terrorists’ groups in the sub-region with requisite state-of-the-arts weapons to enable them win the war.

In a communique signed by the forum’s Chairman and Governor of Borno State, Babagana Zulum after its meeting to discuss the challenges facing the sub-region, the governors commended the efforts of the Federal Government  in fighting insurgency, but urged  the armed forces to intensify efforts to secure hard-to-reach areas  and ensure safe access to farm lands by farmers.

It also said the six governors pledged to work together to foster regional integration, growth and development, especially in the exploitation of its oil and gas potentials, mineral resources, agriculture and industrialisation.

At the meeting were the governors of Adamawa, Bauchi, Borno, Gombe, Taraba and Yobe States.

The forum called  on the Federal Ministry of Water Resources to ensure that attention was given to recharging the Lake Chad from national water bodies and strengthening the river basins in the sub region.

The forum recommended that the manpower deficit in the armed forces should be bridged by allowing the Police to carry state-of-the-art weapons where necessary and be provided with strategic equipment like high velocity tear gas, trackers and Armoured Personnel Carriers (APC). It also called  on the Federal Government to revoke selected road contracts awarded by the Federal Ministry of Works for years without progress and re-award same to more competent contractors with funding to ensure timely execution.”

“The forum urged the Federal Government to ensure local content in the execution of the Mambila Hydro Electric Power project and other programmes of the North East Development Commission (NEDC) to ensure synergy with state governments.

It expressed the support of the governors for the management and board of NEDC and their determination to work together in producing a comprehensive strategic master plan for the region that would ensure sustainable development.

 

EFCC: Presidency widens Salami panel’s mandate [Nation]

– Committee granted judicial powers – To hold public sittings

THE Presidential Investigative Committee on activities of the Economic and Financial Crimes Commission (EFCC) has been granted judicial powers, it was learnt at the weekend.

Chairman of the panel Justice Isa Ayo Salami, a former president of the Court of Appeal, and his members will operate in line with Section 1 of the Tribunals Inquiry Act (CAP T21,LFN, 2004).

The panel has also been mandated to conduct public sittings. It has so far been sitting in camera at the Presidential Villa in Abuja.

Its report is expected to be submitted 45 days after its first public sitting, it was gathered.

The panel has been examining activities of the EFCC under the stewardship of suspended Acting Chairman Ibrahim Magu between 2015 and 2020.

The Judicial Commission of Inquiry can  sit in Abuja or other places and upon such dates as the chairman may determine.

Among other things, the panel is charged with probing high profile local and international cases, including that involving Mrs. Diezani Alison Madueke and others; the $9.6billion judgment against Nigeria by Process and Industrial Developments (P&ID) and complaints by the UK National Crime Agency (NCA) in London.

Other areas of focus are the alleged non-compliance with presidential and ministerial directives; non-compliance with court orders; and non-compliance with procurement and financial management laws.

Also, a key area of the probe is the mandate to audit the assets and finances of the EFCC as a legal entity between 2015 and 2020.

The Salami Panel is expected to do the following:

             Investigate, verify, and review the recommendations of the presidential committee on Audit of recovered assets as it relates to the EFCC, with a view to ascertaining the complicity or otherwise of Ag. Chairman Ibrahim Magu in the mismanagement of the assets recovered by the commission;

             Identify the avenue through which the recovered assets are dissipated and seized, recovered, forfeited (interim and final) assets are valued, managed, disposed or mismanaged with a view to ascertaining compliance or otherwise with extant laws, regulations, processes and procedures;

             Review the existing procedures on the management of the seized, recovered and forfeited assets (interim and final) and proffer standard operational procedures for the management of seized, recovered and forfeited assets;

             To determine whether movable or immovable assets including funds or cash recovered during his tenure, whether locally in Nigeria or abroad are being kept safely in a manner, as to preserve their original value;

(i)  Identify the location of all movable or immovable assets, funds or cash that are under interim or final forfeiture based on administrative or orders of the courts; and

(ii) Identify the bank accounts to which recovered funds or cash were paid into and whether generated interest from the recovered funds or cash was properly accounted for.

             Whether all the assets could be properly accounted for by the Ag. Chairman and take measures to – (i) confirm, if any, of the assets has been diverted to the benefit of the Ag. Chairman, his family, relation, friends or favoured staff; and (ii)recover any of such diverted assets, funds or cash, if any and recommend, if the fund should be returned back to the EFCC or appropriate government agency, entities or individuals.

Another source claimed that the panel has been directed to investigate alleged abuse of office and non-compliance with official directives

The source added: “Salami and his team will also find out if there were alleged cases of the existence or otherwise of dereliction of duty and abuse of processes and procedure against the Ag. Chairman.

“The essence of the audit is to determine whether or not there was compliance with procurement procedures of the EFCC in line with the provision of the Procurement Act.

“The panel will look into allegations of personal enrichment with the assets recovered; corruption and money laundering allegations involving the Ag. Chairman and Bureau De Change operators, as well as some of his associates; as per the intelligence reports and petitions.

“In line with international best practices, the panel is to make “appropriate recommendations concerning each person, authority and organisation investigated by the judicial commission and what judicial or administrative measures, if any, should be taken to recover all misappropriated funds and assets.”

It was learnt that a former Secretary to EFFC, Mr. Emmanuel Adegboyega Aremo, appeared before the panel and declared that for the five years and three months between 2013 and 2018, when he was in office, no asset was sold and that he never participated in the sale of any forfeited property. He reportedly declared that only a property was released to the Voice of Nigeria (VON) and the agency paid rent to the Commission.

 

Fund BDC to stabilise naira, Sanusi tells CBN [Nation]

  • Market leaders demand rate unification framework

TO protect the naira, the Central Bank of Nigeria (CBN) must fund Bureau De Change (BDC) segment of the foreign exchange .

Former CBN Governor and one-time Emir of Kano Muhammad Sanusi II said this action will bridge the gaps between official and parallel market rates of the naira.

The apex bank in March suspended dollar sales to BDCs. But the policy has not affected dollar transactions in the Investors & Exporters (I&E) forex window.

Sanusi, who spoke  in a live webinar organised by AZA, a cross-border payments platforms and forex trading firm,  on the theme: United States of Naira: What Price for Unification?, said there has been huge gaps between the official rate, the Nigerian Autonomous Foreign Exchange Rate Fixing (NAFEX) and the BDC rates since 2016.

He said: “I think what the bank is trying to do is bridge that gap and I think moves have been made in general in July that have brought the CBN rate and the NAFEX rates closer. But, the BDC rates remain an outlier. It is a small percentage of the market, but it does have an impact on speculation, which is why it is important to fund that market.”

According to him, the huge gap between NAFEX and BDC is a reflection of funding being taken out of the market because of shortage of foreign exchange.

“And once the Central Bank has enough money and funds that market, it will probably converge. So, I would not be interested in moving the rates towards N470, for example, but I would like to see a convergence of CBN and NAFEX, which will take care of over 90 per cent of the transactions in the market and there is some small funding for BDC rate to bring it back to that level,” he said.

According to him, the CBN had always been guided in the definition of unification by the International Monetary Fund (IMF) position, which is that a multiple currency environment is one where the difference between the rates exceeds five per cent. He said the apex bank had always tried to keep the gap between the official rate, the Automated Teller Machine (ATM) bank rate and even BDC rates to within that range, usually about three per cent.

The former CBN boss said the apex bank is already moving towards unified exchange rate regime.

“It is what the IMF and the World Bank have asked for. It makes for positive transparency; it makes for clarity of direction; it also reduces the speculative demand for naira. For me, this is the Central Bank finally saying, basically, we will do what the market has been asking for,” he added.

West Africa Banks Analyst at Tellimer, Nkemdilim Nwadialor, said Nigeria seemed to be facing liquidity gap in the forex market and that has undeniably contributed to how far all the markets are shrinking.

She said: “I believe that unification is long overdue; it is much needed. It is a no brainer at this point. But what I would like to point out is that CBN has not yet released any framework or overview around how it plans to unify. “We still do not have a concrete basis for understanding what is happening to bring about unification. There is a lot of talk and there is a lot of possibility that unification will come through. However, in terms of actionable steps, plans or policy layout, we have not seen that from the CBN and so we ca not speak very confidently on where we think post-unification rates should be.”

Sanusi said that he has a lot of sympathy for the apex bank at this moment. He added:  “There are lots of the shocks the bank has no control over. It would be a brave governor of the bank who would announce a target rate when he does not know how much is going to come in or what is going to happen to the oil price tomorrow or the day after, and the entire world is going through shocks.

“I think it is extremely important that we recognise that the only clarity that the Central Bank can give at the moment is to say we do plan to converge, and that means the official rate is going to be devalued, but we are not going to do it in a rapid and disorderly manner.”

He said there are about $4 billion portfolio investors’ cash on the list of the CBN for repatriation, but suggested that if the portfolio investors want to take their money out at any price, they could take a huge devaluation and take a hit.

“But, if they want to preserve the value of their currency, there is some virtue in waiting for an orderly unwinding of these backlogs because we must remember that when Covid-19 hit and after the Russia-Saudi fiasco, oil prices went down to $10 a barrel.

“So, you can either take a huge hit today and buy dollars for N500, N600, or wait a few weeks for oil prices to stabilise and have the Central Bank give you your money at a relatively good rate.

“I think what the governor is trying to do is accept the reality that the value of the naira today may probably be overvalued somewhat and we need to go through some really effective exchange rate devaluation but also do that in a gradual manner so as to minimize a shock to the economy.”

CEO, Renaissance Capital Nigeria, Temi Popoola, said Nigeria is going into a regime where there is unification around particular rates but there is no liquidity.

He said: “The reality is that multiple rates do have their place in monetary policy management. They are useful when you have massive shocks to smooth out volatility, and to help the broader economy.

“It is a way of just dispersing what would be short-term pain down the line.  If you look globally today, there are very few economies, if any, that are developed and are functioning properly where you have multiple forex rates given everything around corruption to lack of transparency and, in my view, the biggest determiner is just the destruction that it tends to cause.”

 

JAMB to shift 2020/2021 admissions’ date [Nation]

TERTIARY institutions may be prevailed upon to delay the screening of admission seekers for the 2020/2021 academic session, it was learnt on Sunday.

The Joint Admissions and Matriculation Board (JAMB) and heads of all tertiary institutions are billed for a meeting today to discuss the possibility of shifting the commencement of admission processes to a new date.

The Nation learnt that a date may be picked in September for the kick-off of admission processes for 2020/2021 academic session.

On the table for discussion is the possibility of institutions either delaying or prolonging their screening exercises to accommodate candidates who will be taking the 2020 O’ level examinations conducted by the West African Examinations Council (WAEC), National Examination Council and National Business and Technical Examination Board (NABTEB) would be put on the table during the meeting.

In June, during its policy meeting at its Headquarters in Bwari, Abuja, the board had announced that this year’s admission would commence on August 22.

The closure of schools as a result of the outbreak of the Coronavirus pandemic is affecting the about 1, 352, 988 candidates who scored 120 and above in this year’s Unified Tertiary Matriculation Examination (UTME).

Most of them are candidates with awaiting results. The same applies to 930, 305 candidates that scored 160 and above.

Following Federal Government’s decision to reopen schools for pupils in Senior Secondary School (SSS3) to participate in the 2020 West African Senior School Certificate Examination (WASSCE) scheduled to begin on August 17, the board convened a meeting to discuss the possibility asking institutions to either delay or prolong their admission processes to allow pupils with awaiting results upload the required O’ level.

JAMB, in its weekly bulletin released by its Head of Information and Media Dr. Fabian Benjamin, said: “As a responsible organisation whose mantra is equity and fairness, the board desires that every aspiring candidate who had its UTME be given equal opportunity to compete with his/her peers for the available openings.

“This is the reason for its call for another meeting with all the institutions with a view to amending the earlier mutually agreed date for the conduct of Post-UTME screening and other processes.

“As intellectuals, it is incumbent on the board and the various tertiary institutions to always provide practical solutions to perceived challenges for the smooth running of the sector without being prompted by the government.

“Such solutions, when arrived at, would then be forwarded to the relevant ministries, agencies for further inputs and necessary approvals.

“It is in view of this that the board is working to pre-empt any unpalatable situation that may arise if institution conduct their admissions without accommodating the vast number of candidates that are about to take their O’ level examinations.

“Consequently, the board would at the meeting, be looking at the possibility of ensuring that the various institutions either delay or prolong their screening exercises to accommodate candidates who will be taking the 2020 O’ level examinations conducted by the WAEC and NABTEB.”

 

CBN to unify exchange rates, pegs naira at 379/$ [Punch]

The Central Bank of Nigeria on Saturday officially changed the exchange rate of the naira to the dollar from N361 to N379 on its website.

The apex bank had earlier expressed its decision to unify the exchange rates in the country as forex scarcity persisted.

It was however yet to announce if this would be the official unified exchange rate.

Meanwhile, the naira exchanged for N473 at the parallel market on Friday.

Experts have continued to clamour for a single exchange rate in the country.

The President, Association of Bureaux De Change Operators of Nigeria, Alhaji Aminu Gwadabe, had said, “It will ease regulatory supervision, ensure transparency and effective price discoveries, and deepen market perfections.”

The Senior Partner, Regulatory and Technology, Stransact Partners, Eben Joels, said the gap between the various exchange rates operating in Nigeria created arbitrage opportunities for highly connected individuals.

 

Edo Assembly crisis: Factions exchange words over planned sitting in shut complex [Punch]

More violence appeared to be looming on Sunday  in Edo State as factions in the state House of Assembly sharply  disagreed over the proposed sitting of the 17-member faction of the legislature.

The 17-member faction  of the state House of Assembly  on Sunday said  it  would  sit in the  Assembly building, which is being repaired by the  state government.

The factional Speaker, Victor Edoror, who stated this in an interview with The PUNCH on Sunday, described the renovation of the Assembly as unnecessary, saying the 17 lawmakers  would access it and sit there.

But the other faction, in an interview with The PUNCH, said the sitting being proposed by the  Edoror-led group  was comical and wondered what it would represent.

Recall that 14 members-elect, who had not been sworn in since 2019 when the House was inaugurated,  on Thursday, were  joined by three other lawmakers, who had declared support for the All Progressives Congress governorship candidate, Pastor Osagie Ize-Iyanmu.

The 14 members-elect were sworn in and together with the three other members reportedly impeached the Speaker, Frank Okiye, and elected Mr Victor Edoror, as his successor.

Prior to the emergence of the factional speaker,  there  had been tension  at the Assembly as armed policemen were deployed there as early as 7am.

The governor, Godwin Obaseki, later went to the Assembly where he addressed his supporters.

Shortly after the governor and Okiye’s departure,   artisans ostensibly acting on government orders, removed  the roofs of the building and used granites to block the gates.

The crisis in the state started last year when the APC was divided into  two factions with one loyal to the state governor and the other consisting of supporters of the immediate National Chairman of the party, Adams Oshiomhole.

In June, Obaseki defected to the Peoples Democratic Party  and emerged as the candidate of the opposition party following his disqualification from the APC governorship primary.

In the interview with The PUNCH, Edoror said if possible, the 17 lawmakers would access the Assembly building and sit there.

He stated, “The House of Assembly is our property. We are not under his (governor’s) appendage. We are an independent  organ. The governor, in the name of renovation, cannot disturb our proceedings.  If it is possible, we will go there and sit. However, our inability to access the complex will not hinder the legislative process in the state. We will continue to sit for the people.”

We are not out to impeach Obaseki — 17  lawmakers

He, however, stated that the lawmakers were not out to impeach Obaseki, whom he said had committed an impeachable  offence.

He said: “We have the number and if we have the time as permitted by the constitution, we can achieve that (impeach the governor) but we don’t have that in mind. We are not out for Governor Obaseki or his deputy, Philip Shaibu. We are not being sponsored by anybody to victimise anyone. What we have been fighting for is that constituencies making up Edo State should be duly represented in the House.

“The constitution says that 24 must be represented in the House to be able to sit. Section 91 of the constitution of the Federal Republic of Nigeria states that, ‘For an assembly to be inaugurated in any state, the minimum members must be 24 and maximum 40’. Even if one member dies before inauguration, the death certificate must be made available.”

“So inaugurating nine Assembly members is an impeachable offence, but we are not looking at that. We don’t want to destabilise the state. The governor must do the needful by obeying the rule of law.”

17 members’ planned sitting, a  Nollywood activity – Okiye

Dismissing the proposed sitting by the other faction, Okiye said such an action was a Nollywood activity that would have no bearing on the legislative duties in the state.

 

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