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The court has postponed the trial of Stella Oduah to November 14th

Tosin Ranks
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The court has postponed the trial of Stella Oduah to November 14th

The trial of former Minister of Aviation, Stella Oduah, and the China Civil Engineering Construction Corporation over an alleged N7.9bn fraud at a Federal High Court in Abuja has been adjourned.

Initially scheduled for October 17, 2023, the court rescheduled the trial to November 14, citing time constraints.

Stella Oduah was notably absent in court without a provided reason, while her lawyer and the Federal Government’s representative were present.

Oduah and the China Construction giant are currently facing prosecution for alleged crimes of fraud, money laundering, and bribery, amounting to N7.9bn.

These charges encompass conspiracy, money laundering, and the maintenance of anonymous bank accounts with a commercial bank.

For instance, one of the charges outlines that China Civil Engineering Construction Corporation (CCECC) directly transferred N500M from its account with Guaranty Trust Bank to a private banking nominee account with First Bank between March 31 and April 1, 2014, potentially involving proceeds from unlawful activities.

A similar transaction of N868.4M was mentioned, taking place between March 5 and May 30, 2014.

On July 21, 2023, Oduah and eight others pleaded not guilty to these charges after being arraigned.

Without The Kerosene Lamp, Some Of Us Would Not Be Where We Are Today.

Ranks-Staff
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Without The Kerosene Lamp, Some Of Us Would Not Be Where We Are Today.

To my young compatriots…

 

Without the kerosene lamp, some of us would not be where we are today. With the help of this lamp, we were able to study and do our assignments.

 

Close to four decades ago, the humble kerosene lamp was my main source of light whenever the almighty NEPA struck. Sadly, millions still rely on this lamp today for illumination.

 

In perspective, the first generating power plant was installed in Lagos in 1898, just seventeen years after its introduction in England. 125 years afterwards, we are still in darkness!

 

Against all odds, with the kerosene lamp, we passed our WAEC exams in flying colours even though we did not have enough teachers or covered the syllabus fully.

 

We studied on our own. My classmates here on my friends list would bear me witness. We read A. F Abbott and M. Nelkon Physics texts cover to cover. We chewed Holderness/Lambert and Ababio Chemistry texts cover to cover.

 

Additional mathematics was devoured whole with great ferocity on our own. Same thing for ordinary mathematics, English language, Geography, Economics, Agricultural science and Biology.

 

What was the driver? Well, we reasoned that the only ticket out of the quagmire we were in was to pass our exams with distinctions and escape. My WAEC result paved the way for the full Soviet Union scholarship I obtained.

 

My dear young compatriots, you may be feeling that you have been let down by our country (Nigeria) in terms of opportunities and better life. You are probably thinking that the older generations got a better deal and they once enjoyed good life.

 

Sure, some very few with rich parents did enjoy good life in the past just like some are doing right now, however most did not. Nigeria has always been a very tough and difficult place to survive in and will continue to be so for the foreseeable future.

 

However, once you are literate, the acquisition of knowledge is your responsibility. Most brilliant scholars are self taught.

 

Some of my colleagues with whom I burned the midnight oil are now professors. Some are medical doctors, engineers, lawyers, bankers etc practising their professions in Nigeria, Europe, the US, Canada etc.

 

You now have the Internet – a global library in your pocket. In my days, access to information was very difficult. The few libraries around had only archaic books most of which were in terrible state and often in tatters. Use the Internet to find opportunities and gain knowledge.

 

There are scholarships, internships, business opportunities hiding in plain sight. Seek them out and take advantage of the opportunities. There are also free educational videos from Ivy league universities in the US, Oxford/Cambridge etc on YouTube and other platforms. Find them and improve your knowledge.

 

Guess what? If you manage to finish successfully from any Nigerian school under these hardships, you can never fail any exam in Europe, the US, China, Japan etc even if you had already made a pact with failure itself.

 

Ire o!

 

Credit: Olobe Yonyon

IMF suggests that South Africa could surpass Nigeria to become the largest economy in Africa

Tosin Ranks
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0
IMF suggests that South Africa could surpass Nigeria to become the largest economy in Africa

The International Monetary Fund (IMF) has put forth a forecast indicating that South Africa may potentially outpace Nigeria to become the largest economy on the African continent.

According to the IMF’s World Economic Outlook, South Africa, known for its strong industrial base in Africa, is expected to reach a gross domestic product (GDP) of $401 billion by 2024.

In contrast, the IMF’s calculations suggest that Nigeria and Egypt, based on current prices, have GDPs of $395 billion and $358 billion, respectively.

The IMF also foresees a brief period during which South Africa might temporarily surpass Nigeria, the most populous nation in Africa, for a year before eventually trailing behind again.

Their report, released last week, indicates the possibility of South Africa slipping to third place, with Egypt taking the lead in 2026.

This development aligns with actions by the Nigerian President, Bola Tinubu, who has initiated substantial policy reforms.

These reforms, in conjunction with a decline in oil production, have posed challenges for Nigerians, including inflation and the devaluation of the naira.

Tinubu’s administration’s efforts to rejuvenate the economy through measures such as the removal of fuel subsidies and addressing foreign exchange system issues aim to alleviate dollar shortages and boost tax revenue.

While these measures present initial challenges in Nigeria, they are anticipated to yield more substantial benefits in the future.

The IMF anticipates a GDP growth of 3.1% for the next year, compared to 2.9% in 2023.

Daniel Leigh, the division chief in the IMF’s research department, elaborated during the fund’s annual meetings in Marrakech, Morocco last week that these reforms are expected to result in “vigorous and more inclusive economic growth.

How the process of selecting monarchs in Yorubaland is influenced by litigation – Insights from the Olubadan

Tosin Ranks
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0
How the process of selecting monarchs in Yorubaland is influenced by litigation – Insights from the Olubadan

The Olubadan of Ibadanland, Oba Lekan Balogun, shared insights on why legal disputes frequently accompany the selection of kings in certain regions of Yorubaland during a press conference at his Alarere residence in Ibadan, Oyo State, as part of the festivities marking his 81st birthday.

Balogun emphasized that when those responsible for the election or appointment of monarchs fail to fulfill their traditional duties, candidates who feel aggrieved will continue to seek legal recourse.

He explained that litigation is an inherent aspect of democracy and will persist as long as injustice exists in the selection of monarchs in Yorubaland, serving as a safeguard against such injustices.

Regarding the reported confrontation between former President Olusegun Obasanjo and the Council of Obas and Chiefs in the state, the monarch, who holds Obasanjo in high regard, clarified that the issue had been blown out of proportion.

He described Obasanjo as a respectful figure when it comes to traditional rulers in Nigeria and dismissed allegations of disrespect.

He characterized their relationship as one of brotherhood and friendship and attributed the unfortunate incident at the function in Iseyin, where Obasanjo appeared to be acting out of order toward members of the Council of Obas and Chiefs, as a misrepresentation by the media.

On the occasion of his 81st birthday, the Olubadan expressed profound gratitude to God, noting that there had been nothing he had asked of God that had not been granted to him.

Ortom disputes Alia’s assertion of inheriting a N359 billion debt

Tosin Ranks
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0
Ortom disputes Alia’s assertion of inheriting a N359 billion debt

Former Benue State Governor, Samuel Ortom, strongly refutes the claim made by his successor, Rev Fr Hyacinth Alia, that they inherited a massive N359 billion debt.

Ortom’s media aide, Terver Akase, insists that this narrative is not only false but a deliberate attempt to mislead the public.

According to Ortom, at the point of his exit, he asserted that he was handing over a debt of N187 billion to his successor.

Ortom further clarified that during his tenure, his administration took proactive steps to negotiate and significantly reduce the debt, including a Debt Swap between Benue State and the Federal Government.

The total debt swap for the state and local government councils amounted to N71.6 billion.

Additionally, Ortom mentioned that they were expecting substantial inflows, such as accumulated Stamp Duties and refunds from Debt Swap with the Federal Government, which would have further reduced the debt profile to N45.2 billion.

Furthermore, Ortom’s administration had outstanding approvals awaiting disbursement from the federal government, including a balance of N41 billion in bailout funds and a N20 billion Central Bank of Nigeria facility.

They were also anticipating a refund of N9 billion for withdrawals related to subsidy and SURE-P.

Ortom highlighted their efforts in addressing the pension issue by domesticating federal government reforms through the Benue State Pension Law, 2019, which introduced the Contributory Pension Scheme.

They had raised over N8 billion under the scheme and were on the verge of meeting the requirements for full implementation.

Ortom emphasized that inheriting both assets and liabilities is a common occurrence in successive administrations, as it had also happened with previous governors.

He challenges the Alia administration to provide concrete evidence if they want the public to believe their claim that he left them with a N359 billion debt.

Lastly, Ortom questions the Alia administration’s transparency, urging them to disclose their federal allocations, internal revenue, and the state’s monthly wage bill, especially considering the increased federal allocations to states following the removal of oil subsidies.

The EFCC has apprehended a musician on charges of defrauding a British national of £9,300 and an American of $2,000

Tosin Ranks
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0
The EFCC has apprehended a musician on charges of defrauding a British national of £9,300 and an American of $2,000

Officers from the Economic and Financial Crimes Commission apprehended the musician Aniji Shedrack Chidubem, widely recognized as Sanij-D, on allegations of defrauding a British citizen, Susan Mclean, of £9,300.

Sanij-D, who was taken into custody in the Kuje Area Council of the Federal Capital Territory, Abuja, is also accused of defrauding an American, Diana Rosado Gonzalax, of $2,000.

He employed social media platforms such as Instagram, Facebook, and WhatsApp, along with foreign phone numbers, as his means of defrauding the victims.

The EFCC, in a statement issued on Monday, revealed that Chidubem impersonated a marine engineer named Christopher Rossi, who supposedly worked on boats and pipelines in Singapore.

He utilized Instagram, Facebook, and WhatsApp, all with foreign phone numbers, to carry out his fraudulent activities.

The EFCC further stated that he would face legal charges once the investigations are completed.

In a separate case, the EFCC detained Chike Nosa Agada, an unlicensed foreign exchange dealer, for an alleged fraud amounting to N2 billion.

Agada, a 37-year-old individual from Udi Local Government Area of Enugu State, was declared wanted by the Commission for fraudulent activities involving obtaining money through false pretenses and stealing by conversion.

He was apprehended in the Bourdillion area of Ikoyi, Lagos, during a sting operation following credible intelligence. Legal proceedings will commence once the investigations are concluded.

A mobile device was also seized from him upon his arrest

Chaos erupts in the Senate as Senator Ndume dramatically exits the chamber

Tosin Ranks
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0
Chaos erupts in the Senate as Senator Ndume dramatically exits the chamber

On Tuesday, October 17, during a plenary session, Senate President Godswill Akpabio urgently called for a closed-door meeting of the Senate.

This request came after Senator Mohammed Ali Ndume, the Chief Whip of the Senate, left the chamber following a ruling that deemed him out of order.

Senator Ndume, representing APC Borno South, raised a point of order concerning alleged errors made by the President of the Senate, Godswill Akpabio.

The error in question was related to a motion presented by Senator Summaila Kawu, representing NNPP Kano South.

Senator Kawu had proposed a debate on the reopening of the Nigerian-Niger Border but failed to specify the title of his motion.

Under the provisions of Senate order 51, Senator Ndume requested the Senate President to allow for the correction of any errors noticed during the plenary session.

He emphasized that the Senate operates under the guidance of laws, rules, and procedures, and errors should be rectified before proceeding with any legislative matters.

However, Akpabio swiftly intervened, asserting that once rulings are made on issues raised, they cannot be revisited. Consequently, Senator Ndume was ruled out of order.

Senator Sunday Karimi of APC Kogi West attempted to support Ndume’s argument through another point of order, but he, too, was quickly ruled out of order by Senate President Akpabio.

In an effort to address the situation, Deputy President of the Senate, Jibrin Barau, referred to order 16, which requires a substantive motion to be presented by any Senator for the correction or review of previous decisions.

Akpabio supported Barau’s point of order, which further frustrated Ndume. He raised another point of order (order 54) to seek correction of the perceived error but was ruled out of order once again by the Senate President.

In response to Akpabio’s decisions, Ndume gathered his documents and left the chamber in apparent anger.

Perplexed by this turn of events, the Senators promptly convened a closed-door session, which was ongoing at the time of this report.

 

CJ Obasi’s ‘Mami Wata’ is Nigeria’s submission for Oscars 2024

Ranks-Staff
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CJ Obasi’s ‘Mami Wata’ is Nigeria’s submission for Oscars 2024

The IFF Executive Committee will determine whether the film will make the shortlist of contenders ahead of next year’s ceremony.

 

 

The Nigerian Official Selection Committee (NOSC) has picked CJ Obasi’s Mami Wata as the country’s contender for the International Feature Film (IFF) category of the 96th Academy Awards next year.

 

Three Nigerian feature films that have been submitted for the Oscars award

The black-and-white film about a West African goddess and her waning influence in a struggling village won the highest number of votes from the 14-member committee.

 

The NOSC announced in a statement on Sunday, October 15, 2023, that the film was selected for its relevant theme and unique approach to a story of pre and post-colonial African societies. The committee also praised the film for its technical and artistic excellence.

 

Mami Wata debuted in Nigerian cinemas in September but grossed just over ₦4.5 million after three weeks. Its box office run was marred by unfavourable time slots and technical issues reported by cinemagoers, especially in Abuja and Lagos.

 

Despite the local setback, the film also screened in many cinemas across the world and was already the toast of the international film community before its cinema run. It made history as the first homegrown Nigerian film at the Sundance Festival where it won a special jury prize for its striking cinematography in January.

 

Mami Wata also scored 12 nominations, the highest of any film, for the 19th edition of the Africa Movie Academy Awards (AMAA) taking place on October 29.

 

Pointing to the film as a shining example of great work, NOSC chairperson, Stephanie Linus, urged Nigerian filmmakers not to relent in enhancing their skills and elevating production to global standards.

 

“I’m excited to announce a milestone in our NOSC journey: our first Pidgin film submission to the Academy, marking our commitment to diversity and global representation,” the veteran actress said.

 

 

The IFF Executive Committee will determine whether the film will beat dozens of other films from across the world to the shortlist of contenders at the 96th Oscars ceremony on March 10, 2024.

Former Finnish president, Ahtisaari, passes away at the age of 86

Tosin Ranks
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0
Former Finnish president, Ahtisaari, passes away at the age of 86

Martti Ahtisaari, the esteemed former President of Finland and recipient of the Nobel Peace Prize, has passed away in Helsinki at the age of 86 after a prolonged battle with Alzheimer’s disease, as announced by the President’s office on Monday.

In a statement, the current President, Sauli Niinisto, expressed profound sorrow, saying, “We received the news of President Martti Ahtisaari’s passing with deep sadness.”

Serving as the President of Finland from 1994 to 2000, Ahtisaari earned global acclaim and the Nobel Peace Prize in 2008 for his remarkable career spanning over 40 years, during which he skillfully mediated to resolve conflicts worldwide, from Indonesia to Kosovo and Namibia.

The former UN diplomat’s notable achievements included overseeing the reconciliation between the Indonesian government and Free Aceh Movement (GAM) rebels in 2005, bringing an end to a three-decade conflict that claimed the lives of approximately 15,000 people.

Ahtisaari was described as resolute during the negotiations but possessed a sense of humor and warmth outside the formal discussions.

He once remarked, “I have enormous amounts of patience.

I don’t usually get angry, but I can be tough,” attributing his success to his ability to understand people.

Ahtisaari also played a significant role in guiding Kosovo toward independence, although his intensive efforts did not result in an agreement with Serbia before Pristina unilaterally declared independence in 2008.

In September 2021, Ahtisaari withdrew from public life due to his ongoing battle with Alzheimer’s disease.

His legacy as a peacemaker and diplomat remains an enduring testament to his contributions to international peace and diplomacy.

 

Minister anticipates that land reforms will activate $300 billion of idle capital

Tosin Ranks
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0
Minister anticipates that land reforms will activate $300 billion of idle capital

The Federal Government has announced its intentions to tap into more than $300 billion of dormant capital within the housing sector by implementing a series of reforms in land administration and fostering collaborations with various stakeholders.

During a two-day capacity-building conference organized by the Real Estate Developers Association of Nigeria in Abuja, the Minister of Housing and Urban Development, Ahmed Dangiwa, shared that these reforms are part of the government’s initiatives to promote investment and financing opportunities for sustainable real estate projects while addressing the housing deficit in the country.

It’s worth noting that PricewaterhouseCoopers recently reported that Nigeria possesses anywhere between $300 billion and $900 billion of untapped capital in residential real estate and agricultural land.

Minister Dangiwa, represented by Minister of State Abdullahi Gwarzo, affirmed his ministry’s commitment to dismantling longstanding institutional, legal, and bureaucratic barriers that have historically impeded the growth of the housing sector.

He outlined plans to amend the Land Use Act to streamline land administration and also highlighted reforms for key agencies like the Federal Mortgage Bank of Nigeria and the Federal Housing Authority.

The government’s dedication to promoting private housing investment was emphasized.

Minister Gwarzo stated, “In line with President Bola Ahmed Tinubu’s vision, we are fully devoted to creating a conducive environment for increased private sector investment in housing.

This involves working closely with key stakeholders to revise and streamline the Land Use Act for easier and faster access to land.

We acknowledge that one of the most significant challenges in affordable housing is the high cost of finance, with double-digit interest rates on bonds and difficulties in securing international funding for housing projects due to foreign exchange rate fluctuations.

Moreover, budgetary financing for housing development falls short of meeting the demand.

Our primary objective is to eliminate the institutional, legal, and bureaucratic obstacles that have hindered the growth of this sector for years.

This includes collaborating with key stakeholders to review and amend the Land Use Act to facilitate efficient land administration.

We aim to unlock the estimated $300 billion in dead capital, as reported by Price Waterhouse Coopers. Additionally, we are diligently working on reforms for key agencies under the Ministry’s purview, namely the Federal Mortgage Bank of Nigeria and the Federal Housing Authority.”

Aliyu Wamakko, President of REDAN, in his opening remarks, encouraged members to adhere to existing laws in order to contribute to the national economy and expressed the association’s support for the government’s initiatives regarding affordable and accessible housing.

 

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