Month: December 2024

  • 15 Governors Join New Coalition to Unseat Tinubu from Aso Rock

    15 Governors Join New Coalition to Unseat Tinubu from Aso Rock

    Ahead of Nigeria’s 2027 presidential election, 15 governors have reportedly joined a coalition led by prominent opposition figures, including Atiku Abubakar, Peter Obi, and former Kaduna State Governor Nasir El-Rufai.

    This coalition aims to unseat President Bola Tinubu and the ruling All Progressives Congress (APC), and it is said to be gaining traction nationwide.

    Read Also: Dollar to Naira Exchange Rate Today, December 5, 2024: Black Market, CBN Rates

    Kelly Agaba, the coordinator of the Citizens Coalition, announced the formation of the alliance during a media briefing. According to Agaba, the coalition involves multiple political parties, associations, and influential stakeholders across Nigeria, united under a shared goal of fostering change in governance.

     

    “Absolutely, there’s a coalition of parties and associations ongoing, and I can proudly say 15 governors are already involved,” Agaba stated.

    “No single individual wins an election alone. This coalition includes Northern APC stakeholders, and we are confident it will reduce the APC to a regional party by 2027.”

    Netflix to Leave Nigerian Market, Cites Tinubu’s Economic Policies

    Agaba emphasized that the coalition’s strategy is rooted in building alliances based on equity and prioritizing policies that resonate with the electorate.

    He described the ongoing efforts as “political evangelism,” aimed at fostering alignment and realignment among key regions and demographics.

    The coalition has reportedly made significant inroads in the South East and South-South regions, with 70% of stakeholders in the North also showing interest. In the South West, at least three states are said to have embraced the idea.

     

    For the coalition to succeed, Agaba outlined several steps, including structuring the alliance on equitable principles and presenting policies that address national concerns more effectively than the current administration.

     

    This development could reshape Nigeria’s political landscape as the 2027 elections approach, potentially setting the stage for a highly competitive contest between the opposition coalition and the ruling APC. However, analysts caution that maintaining unity within such a diverse coalition will be critical to its success.

     

    As the coalition gains momentum, the political dynamics in Nigeria appear to be shifting, signaling the potential for a dramatic electoral showdown in 2027.

  • Dollar to Naira Exchange Rate Today, December 5, 2024: Black Market, CBN Rates

    Dollar to Naira Exchange Rate Today, December 5, 2024: Black Market, CBN Rates

    Dollar to Naira Exchange Rate Today: Black Market and CBN Rates – Thursday, December 5, 2024.

    For Nigerians involved in trade, travel, or investment, keeping up with the latest Dollar to Naira exchange rate black market is essential.

    This article provides the current Dollar to Naira exchange rate black market and the official Central Bank of Nigeria (CBN) channels, along with insights into rate fluctuations and alternative platforms for currency exchange.

    Dollar to Naira Black Market Exchange Rate Yesterday

    According to data obtained from Bureau De Change Operators (BDCs), the black market dollar to Naira rate on Wednesday, December 4, 2024, closed at ₦1,750 per US dollar.

    Dollar to Naira Black Market Rate for Today, December 5, 2024

    In the black market, the Dollar to Naira exchange rate often reflects real-time demand and supply, making it an essential metric for those outside formal banking channels. As of today:

    • Buying Rate: ₦1,720
    • Selling Rate: ₦1,725

    CBN Official Dollar to Naira Exchange Rate

    The official rate from the CBN is typically lower than the black market dollar to Naira rate but is limited to certain types of transactions, such as government-approved imports and formal business operations. The official exchange rate today is:

    • Buying Rate: ₦1,667
    • Selling Rate: ₦1,668

    Alternative Platforms for Dollar to Naira Exchange Rates

    Several online platforms, including Geegpay and Grey, also offer competitive exchange rates and serve as trusted alternatives to the traditional black market dollar to Naira:

    • Geegpay Rates:
      • USD: Buying at ₦1,701, Selling at ₦1,755
      • GBP: Buying at ₦2,120, Selling at ₦2,127
      • EUR: Buying at ₦1,798.03, Selling at ₦1,800.55
    • Grey Exchange Rates:
      • USD: Buying at ₦1,710, Selling at ₦1,750
      • GBP: Buying at ₦2,102, Selling at ₦2,203
      • EUR: Buying at ₦1,845.03, Selling at ₦1,852

    These platforms are regulated and widely used in Nigeria, providing reliable access to foreign exchange without the volatility often seen in the black market dollar to Naira.

    Historical Context: Rising Dollar to Naira Exchange Rate

    Over the past year, the Dollar to Naira exchange rate black market has experienced considerable volatility. In October 2023, the black market dollar to Naira rate was approximately ₦900 per dollar. Since then, it has nearly doubled, driven by a combination of factors such as inflation, global oil price fluctuations, and foreign currency supply issues in Nigeria.

    Why Nigerians Use the Black Market for Dollar Exchange

    The black market, or parallel market, allows for easier access to foreign currency without government-imposed restrictions. Major reasons include:

    • Favorable Rates: Higher exchange rates often mean more Naira for each Dollar exchanged.
    • Accessibility: It is often simpler to access dollars in the black market than through formal banks, which may limit availability.

    Latest Forex News in Nigeria (December 5, 2024)

    Here are some of the latest updates on the Forex market in Nigeria as of December 5, 2024:

    Latest Forex News in Nigeria (December 5, 2024)

    Forex Turnover in NAFEM Rises 61% to $43bn

    The volume of dollar traded in the Nigerian Foreign Exchange Market (NAFEM) rose by 61.9% to $43.09 billion in the first eleven months of 2024, compared to $26.6 billion in the same period last year. This increase reflects a significant boost in market activity, despite mixed performance of the naira across different segments.

    CBN Overhauls FX Market Rules

    The Central Bank of Nigeria (CBN) has released revised guidelines for the Nigeria Foreign Exchange Market (NFEM), consolidating all FX windows into a single framework and introducing stricter compliance and transparency measures. This move aims to address inefficiencies and create a more transparent, well-regulated system.

    Naira Shows Mixed Performance

    In November, the naira appreciated by N2.8 or 0.16% to N1,672.69 per dollar in the NAFEM, but depreciated by N10 or 0.5% in the parallel market. The margin between the two rates widened to N72.31 per dollar.

    IMF Forecasts Record Fall in Nigeria’s Foreign Reserves

    The International Monetary Fund (IMF) has predicted a record fall in Nigeria’s foreign reserves, estimating they may drop to $24 billion in 2024. This forecast indicates potential forex challenges for Nigeria’s economy.

     

    Understanding the Difference Between Black Market and CBN Rates

    The black market dollar to Naira rate generally runs higher than the CBN rate due to limited official access to dollars, which drives up demand in the parallel market. The CBN rate is regulated, targeting approved business transactions and some personal remittances.

    FAQs on Dollar to Naira Exchange Rates

    Why is there a difference between CBN and black market rates?

    • The black market dollar to Naira rate reflects real-time demand and supply fluctuations, whereas the CBN rate is regulated to control exchange for approved uses.

    FAQs on Dollar to Naira Exchange Rates

    Why is there a difference between CBN and black market rates?

    • The black market dollar to Naira rate reflects real-time demand and supply fluctuations, whereas the CBN rate is regulated to control exchange for approved uses.

    Can everyone use the CBN rate?

    • No, CBN rates are primarily available for government-approved imports and transactions. Many individuals rely on the black market for convenience and access.

    Are Geegpay and Grey safe platforms for exchange?

    • Yes, both platforms are well-regulated, providing secure, competitive rates for exchanging foreign currency.

    Will the Naira stabilize in the future?

    • Future trends depend on economic policies, oil prices, and global market conditions, with currency stability reliant on these factors.

    Conclusion on Dollar to Naira Exchange Rate Today

    Staying updated on the Dollar to Naira exchange rate black market is essential for business, travel, and investment decisions. Regularly checking black market and CBN rates, as well as online exchange platforms like Geegpay and Grey, can help you make informed decisions in Nigeria’s dynamic forex environment.

  • Netflix to Leave Nigerian Market, Cites Tinubu’s Economic Policies

    Netflix to Leave Nigerian Market, Cites Tinubu’s Economic Policies

    International streaming giant, Netflix, is reportedly set to exit the Nigerian market due to economic challenges in the country.

     

    The move comes according to reports by Peoples Gazette, following the release of recent inflation figures by the National Bureau of Statistics that shed light on the worsening economic situation.

     

    A Netflix spokesperson, who asked to remain anonymous before the official announcement, cited a variety of reasons for the decision.

    Read Also: FBI busts Colorado Springs Mayor Yemi Mobolade for plotting racist attack on himself to win election

    “We’re exiting the Nigerian market,” the source disclosed. “We’ve lost a lot of paying subscribers, and the adverse naira-to-dollar exchange rate has made things even more difficult for us to operate.”

    Netflix to Leave Nigerian Market, Cites Tinubu's Economic Policies

    That would be a massive move as it marked a new milestone for Nigerian cinema with Netflix having come into Nigeria the last six years with the movie Lionheart. Since then, it has been an unbelievable catalyst for Nollywood through the international streaming giant’s massive distribution of its own products.

    Read Also : Peter Obi Condemns in Strong Terms the Arrest of Dele Farotimi

    While the company has seen declines in subscriptions in other markets, Nigeria is the first major economy to lose access to Netflix’s premium entertainment offerings, pointing out the impact of the economic difficulties in the country under President Bola Tinubu’s administration.

    Since May 2023, when Tinubu assumed office as President of Nigeria, his economic policies have led to the exit of many companies from the country.

    These policies have resulted in increased hardship and suffering for Nigerians.

  • Namibia Elects Netumbo Nandi-Ndaitwah as First Female President (Photo)

    Namibia Elects Netumbo Nandi-Ndaitwah as First Female President (Photo)

    Netumbo Nandi-Ndaitwah is Namibia First Female President

    The latest news now is that the Namibia’s ruling SWAPO party was declared winner Tuesday of last week’s disputed elections, ushering in the southern African country’s first woman president after a disputed vote that the main opposition has already said it does not recognise.

    Ejes Gist News reports that, the November 27 election encountered several logistical and technical issues. These included a shortage of ballot papers, which resulted in long queues and extended voting hours.

    The South West Africa People’s Organisation (SWAPO) presidential candidate Netumbo Nandi-Ndaitwah  elected as Namibia First Female President
    The South West Africa People’s Organisation (SWAPO) presidential candidate Netumbo Nandi-Ndaitwah elected as Namibia First Female President.

    Nandi-Ndaitwah won by securing just over 57 percent of the votes, while the main opposition candidate from the Independent Patriots for Change got 25.5 percent. The victory has been rejected by the IPC, citing massive irregularities and that the process was deliberately made frustrating for voters.

    FBI busts Colorado Springs Mayor Yemi Mobolade for plotting racist attack on himself to win election

    The Electoral Commission of Namibia also conceded that there were challenges, which included ballot paper shortages and technical problems related to the electronic tablets used for voter registration. Close to 77 percent of the 1.5 million registered voters took part in the election.

    Nandi-Ndaitwah, 72, long a member of SWAPO, becomes the first woman to lead the mineral-rich country, which has been governed by SWAPO since its independence in 1990. Known for her gold-framed glasses and often seen in the colors of her party and the national flag, she has promised to create jobs by attracting investments through economic diplomacy.

    Pay Attention To: Court Documents Reveal 753 Duplexes Recovered from Ex-CBN Governor Emefiele

    The election was considered an important test for SWAPO after other liberation-era movements in the region lost favor with younger voters. Namibia, a significant exporter of uranium and diamonds, faces enormous challenges, among them a high unemployment rate among the youth.

    The presidency of Nandi-Ndaitwah is a feat for Namibia, adding her to the list of the few women leaders on the African continent. She was appointed vice president in February this year and is known for her conservative background; she is the daughter of an Anglican pastor.

  • FBI busts Colorado Springs Mayor Yemi Mobolade for plotting racist attack on himself to win election

    FBI busts Colorado Springs Mayor Yemi Mobolade for plotting racist attack on himself to win election

    The FBI has arrested Colorado Springs Mayor Yemi Mobolade for allegedly orchestrating a racist attack on himself to influence the election outcome.

    This development has led the FBI to refer Mobolade for prosecution for making false statements related to a hate crime hoax intended to boost his candidacy, according to The Daily Wire.

    On November 12, the acting U.S. attorney for the District of Colorado announced that three of Mobolade’s supporters had been charged with writing a racial slur on one of his campaign signs and erecting a burning cross in front of it.

    FBI Arrests Notorious Nigerian Fraudster ‘Bobo Chicago

    The individuals charged are Derrick Bernard Jr., Ashley Blackcloud, and Deanna West.

    These supporters reportedly sent videos of the incident to the media to rally Black voter turnout for Mobolade, an African immigrant.

    Their actions were allegedly intended to galvanize support for Mobolade during the mayoral runoff election against Wayne Williams.

    Mobolade, a left-wing candidate, went on to defeat a white Republican in a closely contested election in the conservative-leaning city.

    According to The Daily Wire, FBI investigators obtained communications showing that Mobolade was in close contact with the lead suspect, Bernard, before, during, and after the incident.

    Mobolade was interviewed twice to determine his knowledge of the hoax, during which he strenuously denied having contact with Bernard.

    Court Documents Reveal 753 Duplexes Recovered from Ex-CBN Governor Emefiele

    Following his conduct during the interviews, the FBI referred Mobolade to the Department of Justice for charges related to making false statements to federal investigators.

    FBI officials also claimed there were dozens of messages exchanged between Bernard and Mobolade.

    Bernard is a career criminal who was sentenced to 32 months in prison in 2018. He allegedly attempted to kill two police officers and has since been convicted of an unrelated murder of a rapper who disrespected him.

    During the interviews, officials noted that Mobolade scrolled through his phone as a memory aid. However, they stated that “he was literally skipping over text messages,” apparently unaware that the bureau had already obtained them from other sources.

    An official reportedly said, “The initial response from the Department of Justice was, ‘We can’t indict the first Black mayor of Colorado Springs.’ In my experience, if anyone else had been in that position, they would have been charged with lying to a federal agent.”

    The alleged hate crime occurred in 2023, between an April 4 general election and a May runoff election that was scheduled because the general election results were so close.

  • Peter Obi Condemns in Strong Terms the Arrest of Dele Farotimi

    Peter Obi Condemns in Strong Terms the Arrest of Dele Farotimi

    Peter Obi, Labour Party’s presidential candidate in 2023, has strongly condemned the arrest of his political ally, Dele Farotimi, over a defamation petition.

     

    In a statement on Tuesday, Obi described Farotimi’s arrest as a grave assault on democracy. He stated, “Farotimi’s arrest is a gross misuse of police powers and a grave assault on the principles of democracy and justice in Nigeria.

    I condemn this action in totality. It represents not only an attempt to intimidate opposing voices from questioning authority.”

    Read Also : Dollar to Naira Exchange Rate Today, December 4, 2024: Black Market, CBN Rates

    Obi criticized those behind Farotimi’s arrest and called for the human rights lawyer’s immediate and unconditional release. “The police must recognize that their allegiance is to the constitution and the people of Nigeria, not to narrow interests at the behest of those in power,” the former Anambra governor added.

    NBA Condemns Arrest, Harassment of Dele Farotimi: Calls for Immediate Release

    Farotimi’s arrest was reported earlier on Tuesday. Before his arrest, Farotimi had stated that Tony Elumelu, the chairman of UBA, had filed a petition against him, which he had honored by responding to the police invitation.

    Additionally, Farotimi alleged that senior lawyer Afe Babalola had mobilized Nigerian police to arrest and take him to Ekiti State for trial.

  • Court Documents Reveal 753 Duplexes Recovered from Ex-CBN Governor Emefiele

    Court Documents Reveal 753 Duplexes Recovered from Ex-CBN Governor Emefiele

    The Economic and Financial Crimes Commission (EFCC) has recovered 753 duplexes and other apartments on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja, from former Central Bank of Nigeria (CBN) governor Godwin Emefiele, according to court documents.

    The affidavits, which detail how Emefiele allegedly acquired the properties through kickbacks from contractors, were published by Omoyele Sowore, the AAC presidential candidate in 2023. Sowore had previously criticized the EFCC for not disclosing Emefiele’s identity in their initial statement.

    Read Also : Dollar to Naira Exchange Rate Today, December 4, 2024: Black Market, CBN Rates

    Court Documents Reveal 753 Duplexes Recovered from Ex-CBN Governor Emefiele

    The affidavits reveal that Emefiele received kickbacks from contractors awarded contracts by the Central Bank of Nigeria. It was also discovered that Ifeanyi Omeke, a deputy general manager and head of litigation at Zenith Bank Plc, worked closely with Emefiele, handling tasks such as purchasing and perfecting title documents for several properties in upscale areas of Lagos and Abuja.

    Sowore released the affidavits following an EFCC statement that criticized him for accusing the agency of concealing Emefiele’s identity. The EFCC explained that Emefiele’s identity was initially withheld because the investigation was still ongoing.

    The EFCC emphasized that the criminal investigation is still in progress and that it would be unprofessional to disclose names of individuals not directly linked to the title documents of the properties. The agency reiterated its commitment to a no-sacred-cow approach in all matters, aiming to make Nigeria greater.

  • NBA Condemns Arrest, Harassment of Dele Farotimi: Calls for Immediate Release

    NBA Condemns Arrest, Harassment of Dele Farotimi: Calls for Immediate Release

    The Nigerian Bar Association (NBA) has expressed deep concern over the arrest of human rights lawyer Dele Farotimi on allegations of libel, as well as the reported invasion of his law firm and harassment of lawyers and staff. The NBA described these actions as a serious breach of the rule of law and the sanctity of the legal profession.

    In a statement, the NBA highlighted that while the Nigerian Police Force has the authority to investigate crimes, this power must be exercised within the bounds of the law and in respect of offenses recognized under Nigerian law. The association emphasized that the alleged offense of libel, for which Farotimi was reportedly arrested, is not a criminal offense under the laws of Lagos State. The Criminal Law of Lagos State 2011 decriminalized defamation, aligning with global best practices that treat defamation as a civil wrong rather than a criminal offense.

    Police Arrest Tinubu’s Critic, Human Rights Lawyer Dele Farotimi, Nearly 24 Hours After Alleged Threat to Life

    The NBA referenced the Supreme Court’s decision in Aviomoh v. Commissioner of Police & Anor (2021), where Justice Helen Ogunwumiju, JSC, affirmed that defamation ceased to be a criminal offense in Lagos State following the enactment of the Criminal Law of Lagos State 2011. The association further noted that under the Police Act 2020, the Nigerian Police Force is mandated to act only in relation to conduct that constitutes a criminal offense under Nigerian law. Arresting individuals for non-criminal matters, such as defamation in Lagos State, is unlawful and a violation of the principles of legality and the rule of law.

    Equally troubling to the NBA is the reported invasion of Farotimi’s law firm and the harassment of lawyers and staff. Reports of phones being confiscated from lawyers and staff during this invasion were cited as a severe disregard for the sanctity of legal practice and constitutional rights. The NBA condemned these actions as a violation of the constitutional right to dignity and privacy and an affront to the independence of the legal profession.

    The NBA has called for the immediate release of Dele Farotimi, stating that his arrest lacks any basis under the laws of Lagos State. The association has demanded a swift investigation into the invasion of his law firm, with findings made public and those responsible held accountable.

    The NBA urged law enforcement agencies to prioritize the principles of legality, fairness, and respect for human rights in their operations, emphasizing that these principles are foundational to justice, democracy, and the protection of citizens’ freedoms.

    Mazi Afam Osigwe, SAN, President of the Nigerian Bar Association, reiterated the association’s stance, calling for adherence to the rule of law and the protection of the legal profession’s independence.

    The statement reads:


    Statement by the Nigerian Bar Association on the Arrest of Dele Farotimi and Alleged Invasion of His Law Firm

    The Nigerian Bar Association (NBA) is gravely concerned about the arrest of Dele Farotimi on allegations of libel, as well as the reported invasion of his law firm and the harassment of lawyers and staff within the premises. These actions constitute a troubling breach of the rule of law and the sanctity of the legal profession.

    While the Nigerian Police Force has the authority to investigate crimes, this power must be exercised within the confines of the law and in respect of offenses recognized under Nigerian law.

    We must reiterate that the alleged offense of libel, for which Dele Farotimi was reportedly arrested, is not recognized as a criminal offense under the laws of Lagos State. The Criminal Law of Lagos State 2011 repealed the criminalization of defamation by omitting it from its provisions. This progressive legislative move aligns with global best practices, which treat defamation as a civil wrong rather than a criminal offense.

    The Supreme Court in Aviomoh v. Commissioner of Police & Anor (2021) affirmed this position. Justice Helen Ogunwumiju, JSC, unequivocally held that defamation ceased to be a criminal offense in Lagos State following the enactment of the Criminal Law of Lagos State 2011. This authoritative pronouncement leaves no room for doubt.

    Furthermore, under Sections 4 and 24 of the Police Act, 2020, the Nigerian Police Force is mandated to act only about conduct that constitutes a criminal offense under Nigerian law. Arresting individuals for non-criminal matters, such as defamation in Lagos State, is not only unlawful but also a blatant violation of the principles of legality and the rule of law.

    Of equal concern is the reported invasion of Dele Farotimi’s law firm and the harassment of lawyers and staff within the premises. Reports that phones were confiscated from lawyers and staff during this invasion highlight a severe disregard for the sanctity of legal practice and the constitutional rights of individuals. The legal profession is a cornerstone of justice and democracy, and any attempt to undermine its independence is a direct assault on the rule of law.

    The NBA unequivocally condemns the invasion of Mr. Farotimi’s law firm, the harassment of its lawyers and staff, and the unlawful seizure of their phones. Such actions are not only a violation of the constitutional right to dignity and privacy but also an affront to the independence of the legal profession.

    We, therefore, demand the immediate release of Dele Farotimi, as his arrest lacks any basis under the laws of Lagos State. The authorities must swiftly launch an investigation into the invasion of his law firm, with the findings made public and those responsible held accountable.

    We urge law enforcement agencies to prioritize the principles of legality, fairness, and respect for human rights in their operations. These principles are foundational to justice, democracy, and the protection of citizens’ freedoms.

    Mazi Afam Osigwe, SAN
    President
    Nigerian Bar Association

  • BREAKING: South Africa Eases Visa Process for Nigerians, Drops Passport Requirement

    BREAKING: South Africa Eases Visa Process for Nigerians, Drops Passport Requirement

    In a significant move to bolster bilateral relations and economic cooperation, South African President Cyril Ramaphosa has announced a major change in visa requirements for Nigerian travelers.

    Speaking at the 11th session of the Nigeria-South Africa Bi-National Commission (BNC) in Cape Town, President Ramaphosa revealed that Nigerian tourists can now apply for South African visas without submitting their passports. This decision aims to simplify travel for Nigerian businesspeople and tourists, fostering closer ties between the two nations.

    Read Also: Npower, CCT: Reps Give Tinubu 72 Hours to Unfreeze NSIPA Accounts

    The event, which highlighted the importance of the Nigeria-South Africa relationship, was attended by Nigerian President Bola Tinubu. President Ramaphosa noted that the new visa measures, including a five-year multiple-entry visa, are designed to facilitate seamless movement and enhance economic collaboration.

    “We are removing constraints to ensure more robust economic collaboration,” Ramaphosa stated, emphasizing South Africa’s commitment to attracting greater investment and addressing cross-border business challenges.

    BREAKING: Tinubu Takes New Action on Tax Reform Bills, Issues Major Directive

    He also praised Nigeria’s recent economic reforms, which have helped create a more investor-friendly environment. “These reforms are a testament to Nigeria’s dedication to fostering a vibrant business climate,” Ramaphosa added.

    Additionally, President Ramaphosa stressed the importance of collective development across Africa and pledged to advocate for the continent’s challenges, especially those faced by countries in the Global South, at the G20 summit.

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    The revised visa policy is expected to significantly boost economic, cultural, and social exchanges between Nigeria and South Africa, reinforcing their positions as key players in Africa’s integration and global representation.

  • Npower, CCT: Reps Give Tinubu 72 Hours to Unfreeze NSIPA Accounts

    Npower, CCT: Reps Give Tinubu 72 Hours to Unfreeze NSIPA Accounts

    The House of Representatives has given President Bola Tinubu a 72-hour ultimatum to unfreeze all National Social Investment Programmes Agency (NSIPA) accounts.

     

    On Tuesday, the lower legislative chamber asked the Nigerian leader to instruct the Minister of Finance, Wale Edun, to unfreeze the accounts. This resolution was passed during the plenary session.

    BREAKING: Tinubu Takes New Action on Tax Reform Bills, Issues Major Directive

     

    Earlier this year, President Tinubu suspended all NSIPA programmes for an initial six weeks to probe alleged misconduct in the management of the agency and its programmes. The suspensions included the Chief Executive Officer (CEO) of NSIPA, Halima Shehu, and the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, over alleged financial malfeasance.

     

    The affected programmes include N-Power, the Conditional Cash Transfer (CCT), the Government Enterprise and Empowerment Programme, and the Home-grown School Feeding Initiative.

    Police Arrest Tinubu’s Critic, Human Rights Lawyer Dele Farotimi, Nearly 24 Hours After Alleged Threat to Life

    In April, during an interview on Radio Nigeria, the Minister of Information and National Orientation, Mohammed Idris, mentioned that a committee set up by President Tinubu had reviewed the programmes and submitted its report. However, he did not specify when the suspended programmes would resume.

     

    Idris also noted that 15 million vulnerable households would receive ₦25,000 conditional cash transfers for three months, among other interventions.

  • BREAKING: Tinubu Takes New Action on Tax Reform Bills, Issues Major Directive

    BREAKING: Tinubu Takes New Action on Tax Reform Bills, Issues Major Directive

    President Bola Tinubu has instructed the Ministry of Justice to collaborate with the National Assembly to address concerns raised about the tax reform bill.

    This directive aims to ensure that all genuine issues are resolved before the bill’s passage. The tax reform bill has sparked controversy since it was submitted to the National Assembly in October.

    BREAKING: Peter Obi Shuns Northern Nigeria Outcry, Endorses Tinubu’s Tax Reform Bill

    President Bola Ahmed Tinubu has also directed the Ministry of Information and National Orientation to work with the National Assembly to address concerns over the tax reform bills.

    This move aims to ensure that all genuine concerns are addressed before the bills are passed. According to the Presidency, the robust nationwide debate on the new tax reform bills is welcomed and commendable, as it reflects the essence and meaning of democracy.

    The Presidency emphasized that President Tinubu will always act in the interest of the Nigerian people. The fiscal reforms, which include four tax bills, are designed to relieve tens of millions of hardworking Nigerians across the country. They also aim to empower and position states and local governments for sustainable growth and development.

    The government has assured that the tax reform bills will not impoverish any state or region of the country. Instead, they will facilitate increased revenues without imposing additional tax burdens on the people. The reforms will also allow citizens to demand and enjoy greater accountability in the management of public resources at all levels of government.

    BREAKING: FG Orders All Nigerian Banks, Moniepoint, Opay, Others to Start Deducting N50 from Nigerians Starting Today

    According to a statement from the Ministry of Information, President Tinubu has been implementing an ambitious fiscal reform agenda that will devolve more resources to Nigeria’s state and local governments and, ultimately, to the Nigerian people.

    The government has nothing sinister to warrant the suggestion that the process is being rushed. In line with established legislative procedures, the Federal Government welcomes meaningful inputs to address the bill’s grey areas.

     

    Highlights of Tax Reform Bills

    Ejes Gist News earlier reported that Tinubu’s administration released 13 highlights of the president’s tax reform bills, which were earlier sent to the national assembly. The presidency argued that the current tax system is overly complex and stifles growth, resulting in low revenue.

    Sunday Dare, the president’s special adviser on public communication and orientation, stated that the tax reform will help promote sustainable economic growth.

  • Police Arrest Tinubu’s Critic, Human Rights Lawyer Dele Farotimi, Nearly 24 Hours After Alleged Threat to Life

    Police Arrest Tinubu’s Critic, Human Rights Lawyer Dele Farotimi, Nearly 24 Hours After Alleged Threat to Life

    The Nigerian Police have arrested prominent human rights lawyer, Dele Farotimi, just nearly 24 hours after he reported an alleged threat to his life.

    Farotimi, known for his outspoken criticism of President Bola Tinubu, was taken into custody following a defamation petition filed by Tony Elumelu, Chairman of the United Bank for Africa (UBA) Group.

    Before his arrest, Farotimi also accused Chief Afe Babalola SAN of coming after him because of the contents of his recently published book titled: NIGERIA AND ITS CRIMINAL JUSTICE SYSTEM.”

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    Reacting to the arrest, Human Rights Lawyer Inibehe Effiong wrote on his X (formerly Twitter) account:

     

    “I have been in contact with @DeleFarotimi in the last few days. During the course of our last conversation over the weekend, he updated me on efforts by the @PoliceNG to arrest him in respect of a petition which he said has been written against him by Chief Afe Babalola, SAN. The petition is said to contain allegations of defamation of character.

    According to Comrade Farotimi, Chief Afe Babalola SAN is coming after him because of the contents of his recently published book titled: NIGERIA AND ITS CRIMINAL JUSTICE SYSTEM. In the book, he narrated his experiences with the justice system in Nigeria, including his personal experience in a case he was involved in some years ago involving the Senior Advocate of Nigeria. Based on what he told me, very highly placed individuals in government have shown sinister interest in the case and are trying to deal with him.

    His immediate family has no access to him at this time and does not know where he has been taken to. I call on the Nigeria Police Force to grant him access to his family and his lawyers and release Mr. Dele Farotimi immediately. The use of the police to pursue private interest is unacceptable. The police are supposed to serve public interest.”

     

     

    Dele Farotimi’s Statement Before Arrest

    Dele Farotimi had written a statement titled “They Want to Silence Me” just 24 hours before his arrest:

     

    “On Monday, the 11th of November 2024, I was informed that an invitation letter from Zone 2 Police Command was delivered to my office. The letter requested that I report to the station on Wednesday, the 13th of November 2024, at 10:00 AM. Accompanied by my legal counsel, I arrived at the station at 9:45 AM on the stated date. At the station, I was presented with a petition written by a lawyer on behalf of Mr. Tony Elumelu, accusing me of defamation. Despite finding the petition baseless, I addressed its content. Subsequently, I met with the Deputy Commissioner of Police (DCP) and the Assistant Inspector-General (AIG) in charge of Zone 2. After discussions, I was released on bail on self-recognisance and asked to return to the station on Thursday, the 21st of November 2024. Following this, I informed my friend, Pastor Sam Aiyedogbon of Realm of Glory International Churches, about the incident. On Saturday, the 16th of November 2024, Pastor Sam informed me that one of the pastors in his church, John Ntekume, had been abducted by the police, interrogated, and then returned to the church.

     

    He was coerced to write a statement along with another pastor, Obiorah Ochokwu. The police showed them a petition written by Chief Afe Babalola in Ekiti State, addressed to the Ekiti State Police Command, and demanded that they lure me to the church to facilitate my arrest. The pastors informed the police that they had no means of doing so, as I am not a hidden person and do not have a direct relationship with them.

    They explained that I had preached at their church as a guest of their senior pastor and left. From their accounts, it became evident that the officers were from the Ekiti State Police Command. I found it perplexing that the police would attempt to lure me through such means, especially since I had already reported to Zone 2 on the 13th of November 2024 and was scheduled to return on the 21st of November 2024.

    During my visit, I even met with the Assistant Inspector General of Police (AIG) in charge of Zone 2, who supervises the entire Southwest police formations. I honoured the invitation on the 21st of November 2024 again in the company of my legal counsel and was permitted to leave.

     

    However, I subsequently began receiving suspicious messages from individuals clearly attempting to lure me to certain locations where I feared I might be abducted. It became evident that these individuals were operating outside standard procedures.

    As a precaution, I approached the Lagos State High Court, seeking enforcement and protection of my fundamental human rights against these unconventional tactics. I also alerted my associates and staff, urging them to exercise caution. To my dismay, the situation escalated when one of my domestic staff was targeted.

    These individuals contacted him, claiming to have a package for him at Evron Food Store on Chevron Drive, Lekki. Having been forewarned, he asked them to leave the package with the store’s security personnel. When their attempts to coerce the security guard into luring my staff failed, they arrested the guard, took him to Zone 2 Police Station, and questioned him about my home address and wife’s contact information.

    The security guard was released on bail later that evening. I must reiterate that I am a law-abiding citizen. I have consistently honoured every lawful invitation by the Nigeria Police Force. However, these recent developments—targeting my associates, tracking my phone, and harassing innocent individuals—are deeply concerning.

    It has therefore become clear, and it is no longer hidden, that there are policemen from the Ekiti State Police Command who are currently working out of Zone 2 Police Station on a mission to abduct me. Now, this leads me to ask a question: if I faithfully attended the police station as invited, why not invite me in the same manner again?

    Assuming there is even a charge, it does not take a lawyer to point out that law enforcement officers going around arresting people connected to me and intimidating them is not the proper way to carry out a lawful arrest.

    So, I have good reason to be fearful for my life, my personal liberty, and even the well-being of those around me. You will all recall, gentlemen of the press, that in February 2021, I publicly disclosed a murder plot against me. I was given six names by the person who revealed the plot.

    I mentioned three with specificity to the Lagos Commissioner of Police at the time, Mr. Hakeem Odumosu, who is now part of Lagos State Parks and Services. One of the persons whose name I did not disclose at the time was a serving police officer. Of the three that were specifically mentioned, one is a traditional ruler.

    All this happened in 2021, and the police never once investigated these claims. Yet, the same police are now surreptitiously trying to abduct me outside the procedure of the law. Now let me be clear: I wrote a book, Nigeria and Its Criminal Justice System.

    I wrote the truth, and I stand by every single word in that book. Should anyone be aggrieved, there are clear provisions for redress. Even if one elects to pursue criminal proceedings and attempts to criminalise free speech, as Chief Afe Babalola is attempting to do, there is still a lawful process to follow. It has become an instrument of evil. Chief Afe Babalola is the largest employer of labour and the highest taxpayer in Ekiti State. Abducting me to be tried in Ekiti State is not justice but a witch hunt.

    I am being prepared for the gallows by Chief Afe Babalola and his minions, who are doing his bidding in Ekiti State. If I have committed a crime, it was not done in Ekiti State. I live in Lagos, I work in Lagos, and everything described in my book occurred in Lagos State.

    The res is in Lagos. What I alleged Chief Afe Babalola did, he did in Lagos. I published my book in Lagos. If I have done anything deserving of criminalisation, those acts occurred in Lagos State.

    All we have seen so far is unbridled impunity unleashed on a citizen. I wrote a book and called it Nigeria and Its Criminal Justice System. There is justice for the accused, there is justice for the victim, and there must be justice for the state.

    For the accused to have justice, the scale must not only be balanced, but it must also clearly be seen as balanced.

    Deploying this police impunity in pursuit of me, when I could simply be invited, clearly shows the level of evil that has been unleashed against me. Truth dies in darkness. Darkness is when you see the truth and do not speak or are intimidated into silence.”

     

    Farotimi’s arrest has drawn widespread criticism, including from Nigerian activist and politician Omoyele Sowore, who demanded Farotimi’s immediate and unconditional release.

  • NNPC 2024 Recruitment: Shortlisted Candidates for CBT Stage Revealed

    NNPC 2024 Recruitment: Shortlisted Candidates for CBT Stage Revealed

    NNPC 2024 Recruitment Shortlisted Candidates is out, FG Shortlists Candidates for CBT Stage.

    The Nigerian National Petroleum Corporation Limited (NNPCL) has progressed its 2024 recruitment process by shortlisting candidates for the Computer-Based Test (CBT) stage. This phase targets applicants seeking Graduate Trainee and Experienced positions within the organization.

    Shortlisted individuals are being notified through emails, with details about the test scheduled for December 7, 2024. Information such as test venues, timings, and further instructions will be provided to the candidates.

    NNPCL has assured applicants of a transparent and fair recruitment process, emphasizing equal opportunities for all. Candidates are encouraged to regularly check their emails for updates and prepare adequately for the upcoming test.

  • APC Chieftain Names Alleged Owner of Abuja 753 Duplexes Forfeited to EFCC

    APC Chieftain Names Alleged Owner of Abuja 753 Duplexes Forfeited to EFCC

    Joe Igbokwe, a chieftain of the All Progressives Congress (APC), has alleged that the former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, owns the newly seized Abuja estate with 753 duplexes, which the Economic and Financial Crimes Commission (EFCC) recently took over.

    The APC chieftain made this claim while reacting to the EFCC’s announcement on Monday, December 2. According to the EFCC, Justice Jude Onwuegbuzie of the Federal High Court in Abuja ordered the forfeiture of the estate in his judgment on Monday evening.

    Read Also: BREAKING: Peter Obi Shuns Northern Nigeria Outcry, Endorses Tinubu’s Tax Reform Bill

    On Monday, December 2, the EFCC announced that it had made the largest single asset recovery since its establishment in 2003. Justice Jude Onwuegbuzie ruled on the final forfeiture of an estate located on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja.

    Joe Igbokwe stated that former CBN Governor Godwin Emefiele is the owner of the 753 duplexes forfeited by the FCT Court to the EFCC.

    According to the anti-graft agency, the estate measures 150,500 square meters and contains 753 units of duplexes and other apartments. Justice Onwuegbuzie ruled that the property should be forfeited to the federal government.

    Read Also: President Tinubu Appoints Adeboye Adeyinka

    Reacting to the report, Joe Igbokwe, in a Facebook post on Monday evening, December 2, alleged that the property belonged to the immediate past governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

    “I hear with one ear that the 753 duplexes forfeited by an FCT Court in Apo belong to former CBN Gov Godwin Emefiele. This one choked me to the marrow. Many Nigerians no dey fear God again oooo. Godwin Emefiele is one of them.”

    Although the EFCC did not mention the estate’s owner, the anti-graft agency has probed the former apex bank governor and has secured several court judgments to take over the ownership of Emefiele’s property.

  • BREAKING: Peter Obi Shuns Northern Nigeria Outcry, Endorses Tinubu’s Tax Reform Bill

    BREAKING: Peter Obi Shuns Northern Nigeria Outcry, Endorses Tinubu’s Tax Reform Bill

    The 2023 Labour Party presidential candidate Peter Obi has voiced cautious support for President Bola Ahmed Tinubu’s proposed tax reform bills, while urging transparency, inclusivity, and broad public participation in the process.

    In a statement released on his official Twitter account, Obi described tax reform as a “critical issue” for Nigeria but emphasized that it must be approached thoughtfully and inclusively.

    BREAKING: FG Orders All Nigerian Banks, Moniepoint, Opay, Others to Start Deducting N50 from Nigerians Starting Today

    He called for public hearings to ensure that Nigerians from diverse backgrounds have a platform to engage in the reform process.

    “Tax reform is a critical issue, and there is nothing wrong with pursuing it,” Obi stated. “However, such reform must be subject to robust and informed public debate. A public hearing on tax reform is essential, allowing Nigerians from all walks of life to engage meaningfully. This is how we build public trust and ensure inclusivity in policymaking.”

    Taiwo Oyedele Clarifies Stance on Using Tinubu-Linked Alpha-Beta for Tax Collection

    Obi highlighted the importance of considering the broader impact of tax reforms, beyond merely increasing government revenue. He argued that any policy changes must take into account their overall effects on the nation’s economic and social sustainability.

    “When considering tax reforms and similar issues, it is insufficient to focus solely on the benefits to the government, particularly in terms of increasing revenue collection. We must also take into account the overall impact on the nation and the sustainability of all its regions,” Obi said.

    Acknowledging the significance of reform, Obi urged the government to prioritize public sensitization and secure buy-in from citizens to foster trust and legitimacy in governance.

    “Let us prioritize transparency, deliberation, and public engagement in charting the path forward. This is how we build a truly participatory democracy,” he concluded.

    Obi’s statement comes amid growing debates on Tinubu’s tax reform agenda, with some critics arguing it could impose undue burdens on ordinary Nigerians. His endorsement, tempered with calls for transparency and public dialogue, underscores the need for a balanced approach that aligns economic policy with the interests of the people.

  • President Tinubu Appoints Adeboye Adeyinka

    President Tinubu Appoints Adeboye Adeyinka

    President Bola Ahmed Tinubu has named Adeboye Adeyinka, alias Zulu, Senior Special Assistant to the President on Grassroots Sports Development.

    Zulu is a well-experienced sports administrator who was until his appointment, the Special Assistant to the immediate past Minister of Sports, Senator John Enoh.

    Taiwo Oyedele Clarifies Stance on Using Tinubu-Linked Alpha-Beta for Tax Collection

    His enviable service with four different Lagos State Governors in various capacities has already branded him as one of the leading crusaders for grassroots sports in Nigeria.

    With vast experience in sports administration and grassroots development, Adeboye Adeyinka is prepared to play a pivotal role in the support for transforming and revitalizing Nigerian sports by the National Sports Commission.

    This appointment reflects President Tinubu’s commitment to fostering sports development at the grassroots level, which is essential for building a sustainable sports ecosystem in Nigeria.

    On Monday, Zulu formally presented his appointment letter to the National Sports Commission (NSC) Chairman, Mallam Shehu Dikko. He pledged to work alongside Dikko to strengthen the nation’s talent development pipeline.

  • Taiwo Oyedele Clarifies Stance on Using Tinubu-Linked Alpha-Beta for Tax Collection

    Taiwo Oyedele Clarifies Stance on Using Tinubu-Linked Alpha-Beta for Tax Collection

    Taiwo Oyedele, Chairman of the presidential committee on tax policy and fiscal reforms, has refuted any plans to employ Alpha-Beta Consulting or other consultants for tax collection.

    During a town hall meeting hosted by Channels Television on Monday, Oyedele addressed concerns about using external consultants like Alpha-Beta, a firm known for managing tax collection for Lagos State and linked to President Bola Ahmed Tinubu.

    Read Also: Presidency Fires Back at Zulum, Others: Stop Misinforming the Public on Tinubu’s Tax Reform Bills

    He highlighted that relying on consultants for tax collection is a significant economic challenge, stressing that governments should not depend on external firms for such crucial functions.

    “In fact, we debated at the committee level about including a provision in the law that prohibits governments from using consultants to collect taxes. We see this as one of the biggest economic problems,” Oyedele stated.

    Pay Attention To: Full List of Top Northern Leaders, Lawmakers Opposing Tinubu’s Tax Reform Bill

    “I can confirm 100 percent that there is no plan whatsoever to use consultants for this purpose.”

    According to Oyedele, the Federal Inland Revenue Service (FIRS) already has the infrastructure needed for efficient tax collection, particularly through its TaxPro Max platform. He noted that minor adjustments to the system are sufficient to implement the proposed reforms.

    “For instance, once these bills are passed, we can simply update the system to require companies like MTN to indicate the states where VAT returns are generated,” Oyedele explained.

    He added that similar measures would apply to other large corporations, such as the Dangote Group and financial institutions, ensuring compliance without external assistance.

     

    ‘Governors Were Consulted on Tax Reform Bills’

    Addressing concerns about consultation, Oyedele emphasized that state governors were actively engaged during the drafting process of the tax reform bills.

    “This is not a rushed process. We consulted extensively. We had a session with the governors’ forum and two sessions with the national economy council. We also spent almost a full day with finance commissioners from across Nigeria,” he said.

    Oyedele further revealed that the committee held multiple meetings with heads of internal revenue services from all 36 states and the Federal Capital Territory. Letters were sent to governors in each geopolitical zone, offering detailed discussions with their cabinets.

    “Some governors didn’t have time for us, but for those who did, like the governor of Lagos, we had thorough engagements. In Lagos, a joint committee between my team and the state cabinet worked on the details for over six months,” he added.

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    He maintained that the committee remains open to further consultations, dismissing claims that stakeholders were not adequately involved.

  • Presidency Fires Back at Zulum, Others: Stop Misinforming the Public on Tinubu’s Tax Reform Bills

    Presidency Fires Back at Zulum, Others: Stop Misinforming the Public on Tinubu’s Tax Reform Bills

    The presidency on Monday shed more light on the tax reform bills proposed by President Bola Tinubu, currently before the National Assembly.

     

    A statement from the presidency explained that Tinubu proposed the reforms to streamline tax administration in Nigeria and make the operating environment conducive for businesses.

     

    The statement, signed by the Special Adviser to President Tinubu on Information and Strategy, Bayo Onanuga, also debunked claims that the bill proposes the scrapping of some government agencies, including the Tertiary Education Trust Fund (TETFUND), the National Agency for Science and Engineering Infrastructure (NASENI), and the National Information Technology Development Agency (NITDA).

    Read Also: Full List of Top Northern Leaders, Lawmakers Opposing Tinubu’s Tax Reform Bill

    It would be recalled that Borno State Governor, Babagana Zulum, had on Sunday claimed the bill proposes the scrapping of the aforementioned agencies, arguing that it is part of the reasons some of them are not in support of the proposed tax reforms.

     

    However, Onanuga said nothing such exists in the bill. He also added that contrary to insinuations in some quarters, the bill is not designed to benefit Lagos and Rivers States in any special way, but is rather targeted at enhancing the quality of life of Nigerians.

     

    The presidential aide assured that the bill is not designed to impoverish the North in any way.

     

    He warned those without sufficient knowledge of the bill to desist from misinforming or misleading members of the public.

     

    “Since the public debate around the transformative tax bills before the National Assembly began in the last few weeks, various political actors and commentators have tried to obfuscate the facts, deliberately misinforming and misleading the public.

     

    “Unfortunately, most reactions are not grounded in facts, reality, or sufficient knowledge of the bills. While some commentators have attempted to incite the people against lawmakers, others have polarized one section of the country against another.

     

    “The tax reform bills will not make Lagos or Rivers more affluent and other parts of the country, as recklessly canvassed, poorer. The bills will not destroy the economy of any section of the country. Instead, they aim to enhance the quality of life for Nigerians, especially the disadvantaged, who are trying to make a living.

     

    “Contrary to the lies being peddled, the bills do not suggest that NASENI, TETFUND, and NITDA will cease to exist in 2029 after the passage of the bills.

     

    “Government agencies, such as NASENI, TETFUND, and NITDA, are funded through budgetary provisions with company income tax and other taxes paid by the same businesses that are being overburdened with the special taxes.

     

    “One reason President Bola Tinubu embarked on the Tax and Fiscal Policy Reforms is the need to streamline tax administration in Nigeria and make the operating environment conducive for businesses,” the statement noted.

     

    It added that one of the issues the bill intends to address is the departure of companies from Nigeria due to complaints of over-taxation and unconducive operating environments.

     

    “For decades, businesses, investors, and private sector players in Nigeria have complained of being overburdened by a myriad of taxes and levies, including those earmarked to fund various government agencies and initiatives.

     

    “The multiple taxes complicate the economic environment, making Nigeria uncompetitive for investment and preventing many businesses from growing or continuing their operations. Some companies have had to make the rational decision to relocate to other countries. We can not continue on this path or wait for 20 years if this country is to deliver the prosperity we need for our people.

     

    “The proposal, as contained in section 59(3) of the Nigeria Tax Bill, only seeks to consolidate some of the earmarked taxes imposed on companies and replace them with a single tax to be shared with the key agencies as beneficiaries in a phased manner until 2030.

     

    “The time frame offers ample opportunity for the affected agencies to explore other funding sources in addition to budgetary allocations in line with the constitution and international best practices.

     

    “It is a misrepresentation of facts to conclude that changing an agency’s funding source amounts to scrapping it. None of the countries leading globally in education, science, engineering, or information technology have similar earmarked taxes.

     

    “The government imposes major taxes, be it income tax, consumption tax, or other taxes, to channel resources to its areas of priority at the time. Imposing a separate tax to fund an agency is an aberration that has yet to yield results despite the huge burden on businesses. The tax bill seeks to address this problem.

     

    Relevant stakeholders and public analysts owe it a duty to properly educate themselves about the bills’ contents and avoid misleading the public for any reason. We may be entitled to our opinions, but such views must be informed and based on facts, not emotions targeted at inflaming passions,” Onanuga submitted.

     

    He appealed to political and opinion leaders to be more guided in their utterances while assuring that the bill proposed by President Tinubu, is designed to phase out obsolete laws in the country and set in motion the desired growth and development for Nigeria.

     

    “In a period like this, when our people across the country look up to leaders for guidance and direction on matters of public importance, such as the Tax Reform Bills, leaders should be more measured in their public utterances to avoid heating the polity and polarising the country unduly.

     

    “President Tinubu welcomes the public interest these bills have generated. He encourages leaders across the country, including Governors, Traditional rulers, Civil Society Activists, Students, trade associations, professional associations, and the general public, to take advantage of the Public Hearings that the National Assembly will organise to present their views on how best to reform our taxes and fiscal regime.

     

    “What is never in doubt is the imperative of changing the existing tax laws and administration that have become obsolete and unhelpful in achieving the growth and development we desire for our country,” the statement concluded.

  • Full List of Top Northern Leaders, Lawmakers Opposing Tinubu’s Tax Reform Bill

    Full List of Top Northern Leaders, Lawmakers Opposing Tinubu’s Tax Reform Bill

    The Federal Government’s proposed tax reform bill, championed by President Bola Tinubu, has drawn fierce opposition from prominent northern political and thought leaders. They argue that the reforms could worsen regional economic disparities, deepening challenges in a region already plagued by poverty and insecurity.

    Key Critics of Tinubu’s Tax Reform Bill and Concerns

    Among the notable critics of Tinubu’s Tax Reform Bill are:

    • Former Vice President Atiku Abubakar
    • Borno State Governor Babagana Zulum
    • Former Sokoto State Governor Aminu Tambuwal

    These leaders have raised concerns about the potential socioeconomic impact of the bill on the northern region. They contend that the reforms could disproportionately burden northern states while benefiting wealthier regions, particularly Lagos State.

    BREAKING: FG Orders All Nigerian Banks, Moniepoint, Opay, Others to Start Deducting N50 from Nigerians Starting Today

    Opposition in the Legislature

    Pressure from northern governors and lawmakers has led to the indefinite suspension of debates on the tax reform bill in the House of Representatives. The move was formalized in a memo by the Clerk of the House, Dr. Yahaya Danzaria, following resistance from:

    • 73 Northern lawmakers
    • 19 Northern state governors

    Statements from Key Figures

    • Atiku Abubakar emphasized the need for a transparent and equitable fiscal system, calling for inclusive participation in policymaking.
    • Babagana Zulum criticized the rushed legislative process, comparing it unfavorably to the Petroleum Industry Bill, which took decades to pass. He warned that only Lagos State might significantly benefit from the proposed reforms.
    • Aminu Tambuwal described the timing of the reforms as inappropriate, given the ongoing economic hardships from naira devaluation and subsidy removal.

    Opposition from Kano Lawmakers

    In Kano State, 24 federal lawmakers rejected the bills during a caucus meeting chaired by Deputy Governor Aminu Gwarzo. This collective stance reflects a broader regional discontent.

     

    Content of the Tax Reform Bills

    The four proposed bills aim to modernize Nigeria’s tax system by:

    1. Consolidating existing tax laws.
    2. Simplifying tax administration.
    3. Promoting fairness and efficiency.

    Key provisions include:

    • Exempting individuals earning less than N800,000 annually from income tax.
    • Reducing corporate tax rates.
    • Exempting small businesses with turnovers below N50 million.
    • Gradually increasing VAT rates and improving tax collection technology.

    Legislative and Regional Implications

    The legislative debate has exposed tensions between fiscal policy and regional equity. Observers are keenly watching how the proposed reforms will shape Nigeria’s tax system, fiscal policies, and national unity.

    How to Print NYSC Green Card and Check Your NYSC Call-Up Letter

    The outcome of this legislative battle could significantly influence Nigeria’s economic trajectory and regional dynamics.

  • Week 23 Pool RSK Papers 2024: Bob Morton, Capital Intl, Soccer X Research, Winstar, BigWin soccer

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    See last week pool result:  Week 23 Pool Late News Papers 2024: Bigwin Soccer, Pool Telegraph

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