THEWILL NEWSPAPER, DECEMBER O8, 2024

VOL 4 NO. 49 • DECEMBER

VOL 4 NO. 49 • DECEMBER

08, 2024

BoI, AGF Sign $50m Portfolio Agreement to Support Women in Finance

Mutfwang: Putting Plateau Beyond Politics

08, 2024

HADIZA HA SEN TASA . NAT . NAASH SEN HADIZA Barriers Break Break ing ing Barriers

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CELEBRITIES HIT BY ‘JAPA’ SYNDROME IN 2024 PAGE 18

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Tax Reform Bills Divide Nigerians as FG Seeks Fair, Equitable, More Inclusive Tax System

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SUNDAY, DECEMBER 08, 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

IS NOW WHOLLY

Digital

Onah Nwachukwu Editor, THEWILL DOWNTOWN

S

enator Natasha Hadiza Akpoti-Uduaghan, a lawyer by profession, made a shift from active legal practice to politics to give a voice to the people of Kogi Central Senatorial District. So far, she has established herself as a fearless supporter of transparency, using her voice to advocate for justice and accountability.

Akpoti-Uduahan’s journey to the National Assembly was challenging. She faced many setbacks, including slanderous allegations. Still, she prevailed and won the 2023 Kogi Central Senatorial District election. While this was a joyous moment for people around her, it was surreal to her as she remembered many who lost their lives and were incapacitated for believing in her. She found consolation, knowing that justice came in the end and her supporters’ efforts were not in vain. Indeed, they did not support her in vain, as within one year of her coming into office, there has been a massive rollout of infrastructural development and provision of amenities, and she intends to keep the tempo.

Senator Natasha Hadiza Akpoti-Uduahgan is a force to be reckoned with. You can read her insightful story on pages 8 to 10.

VOL 4 NO. 49 • DECEMBER 08, 2024

Has anybody else noticed that harmattan season is upon us? Our fashion pages have the right tips for you during this cool, sometimes hot, dusty season. Scroll to pages 4 and 5 for this.

Have you ever been in an office romance? This week’s Downtown Confidential adventure centres on colleagues who are attracted to each other. How do you think it will turn out? I’ll let you find out in the story. See page 15.

This week, our movie review writer spotlights Moana 2. Read his review of the animated film on page 16, and while you are there, download the playlist.

Until next week, enjoy your read.

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Tax Reform Bills Divide Nigerians as FG Seeks Fair, Equitable, More Inclusive Tax System

BY AMOS ESELE

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he zeal with which the Bola Tinubu Administration pursues its policies appears to give room for suspicion and upset those who think there is a hidden agenda somewhere. This fear became clear to the THEWILL in the process of investigating why the wall of opposition to the tax reform bills has been difficult to pull down, even as stakeholders, particularly senior lawmakers, from the South-South, South-West, South-East and the North-Central geopolitical zones have endorsed the bills.

There are four executive bills at the National Assembly, namely, the Joint Revenue Board of Nigeria (Establishment) Bill, 2024; Nigeria Revenue Service (Establishment) Bill, 2024; the Nigeria Tax Administration Bill, 2024 and the Nigeria Tax Bill, 2024.

“Suspicion is the cause,” a senior government official from a north-central state told this newspaper on Friday. “The speed with which this tax reform is being pursued is making many of my brothers in the North suspicious. You know, Tinubu was once in the forefront of advocacy of the restructuring of Nigeria. You will agree with me that if these bills are passed 100 per cent, it will amount to fiscal restructuring. Add that to the recent Local Government Autonomy Act adjudged by the Supreme Court and similar bills that may come, then the government would have executed restructuring without firing a shot.

“That is why the VAT aspect of the bill is generating so much opposition; governments were used to earning federal allocation of 60 per cent based on population, 20 percent derivation and 20 percent based on equity of states. Now this formula is being reversed in the proposed bill with 60 percent for derivation. This is a quantum leap and disruptive for many who have not read the bill well and understood their implications.”

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The official said that with the mounting opposition to the bill, calls for more consultations and the Senate committee set up by the leadership of the National Assembly to liaise with the Attorney-General of the Federation and Minister of Justice following the hostile reception by members of the Senate and House of Representatives, that controversial aspect of the bills-VAT- could be rejigged. “The percentage on derivation is likely to come down to 40 percent just as they would with other parameters in the VAT distribution.”

STALEMATE The ongoing debate between those for and against the passing of the bills has created a stalemate which may cause a possible logjam if both sides hold on to their respective positions without concessions, as disclosed by THEWILL’s government source. This scenario played out last Wednesday when all senators representing the South-South geo-political zone in the Senate endorsed the tax reform bills.

Already senators on the platform of the Nigerian Southern Senators Forum, NSSF, had since given backing to the tax reform bills, saying: “The bills will foster a fair, equitable and more inclusive tax system. Therefore, they deserve the support of all Nigerians.”

In a statement signed by Senator Seriake Dickson (Chairman), Senator Jarigbe Agom Jarigbe (Secretary), alongside Senators Barinada Mpigi, Adams Oshiomhole, Neda Imasuen, Munir Ned Nwoko, Thomas Joel-Onowakpo, Aniekan Bassey, Asuquo Ekpenyong and Allwell Onyeso, the South-South senators said, among other things, that, “recognising the importance of tax reforms in enhancing national revenue and fostering economic stability, we resolved to support the Tax Reforms Bills,” and “calls for restraint on the part of those bent on

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introducing sentiments, whether regional or ethnic, to a national dialogue…”

With these endorsements, the southern senators drew a battle line with their colleagues from the North and further polarised the ongoing debate. Indeed, both chambers of the NASS have failed to have meaningful dialogue on the bills since they were sent there by President Tinubu. The House of Reps has suspended action on the bills, while the Senate is proceeding with them, more diplomatically though, through talks with the Executive.

A presidential spokesperson, Mr Daniel Bwala told THEWILL on Friday that though deliberations on possible areas of concession are ongoing, there is no way to make a categorical statement on it.

“In terms of accommodation of interests, this is not what you can prejudge until the Senate Committee meets with the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi. I know for a fact that the Executive has not withdrawn the bill, the National Assembly has not suspended debate on the bill. Due to the various concerns across board, President Tinubu decided that the AG should liaise with the committee to look into how those things can be reconciled.

This of course calls for more legislative process. That is all what politics is about. So, everything is on course and there is no stalemate,” the presidential spokesman said, adding that hopefully at the end of the day, the bills will be passed and critical areas of the bills that “touch on our economy and our people” will sail through.

He argued that some of the concerns raised by some state governors are issues that can be thrashed when you look at them on face value. According to Bwala, many of those opposing the bills have not read them thoroughly or advised by

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COVER

Tax Reform Bills Divide Nigerians... their attorney-generals, in the case of some governors.

“That is why public hearing is going to happen and the Senate Committee meeting with the AG is still part of the ongoing legislative process on the bill. I do not think it will last long,” he said.

Bwala said the vexed issue of VAT, which is dominating the controversy over the bills, would be addressed through ongoing deliberation.

“Nobody is under the illusion that once the bills are presented, they would be passed 100 percent the way they are presented. That is why there is a public hearing, first reading, second reading and the National Assembly committee will work on it. All of those stages are to fine tune bills. If you remember the Petroleum Industry Bill that later become the Petroleum Industry Act, it was like that too.”

“Once it falls into the National Assembly, how it is going to be interpreted or deliberated is outside the powers of the executive branch of government. And you know that once bills get to the National Assembly, those who are in support will tell you the good aspects, those opposed to it will tell you the bad aspects. All the interpretations you heard about inheritance, re-colonisation of Northern Nigeria came out during deliberation in the National Assembly. These are things that the executive branch cannot control. What the executive branch can do, which we are doing, is to clarify to the people. And the Presidential Fiscal Policy and Tax Reforms Committee, engineered and chaired by Taiwo Oyedele, as well as the communication team in the presidency have been doing so alongside other relevant stakeholders.”

Bwala agreed that the tax reform bills have divided Nigerians, though he attributed the reason for the division to politics.

According to him, anytime people give a political interpretation of a policy it must come with its own crisis.

“When the conversation started, it was said the bill will impoverish the poor in the North. I went on air to say no. If you are making the argument that it will reduce the revenue coming to the state to use, that is a different conversation. But to say it will impoverish the poor in the North, is not true. In fact, provisions in this new tax law that will help the poor. Now, if you go to a restaurant, you do not have to pay tax, the same with public transport to go for medical treatment. The poor do not have to pay tax. Education is also exempted. So, the politics that has been brought into it is why the governors are trying to say that it will reduce the revenue coming to the state. Then they dragged in the poor. If you go to some states in the North, they collect local taxes which are quite heavy for the masses.

So, people are applying their emotions disproportionately. My argument is that they are mixing politics with policy,” he said.

Taiwo Oyedele, Chairman of the Presidential Tax Reform Committee, sees the push back from the North as a big surprise.

Oyedele said last week that the Federal Government did not expect the resistance to the bills, especially to the VAT component, to come from the northern states, as they thought the resistance would come from Lagos and Rivers States instead.

“We did not envisage that this was going to be a pushback from the northern states; we thought the pushback would come from Lagos mostly and maybe a little from Rivers. It’s almost like we ended up with the people we are fighting for.

Whereas for VAT, every state consumes. If you share anything based on VAT derivation, everyone gets something from it.”

OPPOSITION FROM THE NORTH In addition to an earlier opposition to the bills raised by the 19 Northern Governors Forum at a meeting held in Kaduna on October 24, 2024, Governor Babagana Zulum of Borno State is currently championing the cause, though this time with calls for more consultation to enable clarity.

Zulum, who argues that northern governors are not against Tinubu’s administration as it has been insinuated in some quarters, however, expresses reservations about some of the provisions of the bills, including the status of the Federal Inland Revenue Service (FIRS) as the sole tax collection agency in Nigeria.

He alerted the public to the fact that if the bills become law, the Tertiary Education Trust Fund (TETFund), the National

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Agency for Science and Engineering Infrastructure (NASENI) and National Information Technology Development Agency (NITDA) will all cease to exist by 2029. In tow, the Coalition of Northern Groups, (CNG), has expressed fear that the proposed changes in the tax bill could disproportionately favour more economically advanced states and leave states in the North at a disadvantaged economic position.

Some of these unseen “enemies” in the bill appear to be coming out as people scrutinise them more and more.

According to the President of the Academic Staff Union of Nigerian Universities, ASUU, Prof Emmanuel Osodeke, the TETFund aspect is one of “those things that are hidden from the public in that over 200 pages bill that people need to carefully study.”

Although he agrees that the problem is not with tax reform or taxation, he contends that it is about the utilisation of the money collected as tax, he told THEWILL on Friday.

“Let me give you an example. Have you ever heard of stamp duty? We are all paying for it today. Trillions of naira is generated from it. Do you know where that money goes? Is anybody talking about it? It is not in the reform bills. Anytime you buy a product beyond a certain amount, say N10,000, for example, I think you must pay stamp duty. For us, the challenge is corruption. If the government can check corruption and ensure that everybody who is due to pay tax pays up, you do not need these so-called reform bills.

“Now, with this tax reform bill, TETFund is going to be removed. Whether you like it or not, TRETFund is working and funding projects in public tertiary institutions. TETFund is a product of ASUU. You can’t make the tax laws without meeting with ASUU for inputs before proposing it before the National Assembly. Nobody was talking about it until Governor Zulum raised it. Why does the government want to take TETFund to NELFUND (Nigerian Education Loan Fund)?

Let them go and look for ways to fund it. The tax reform bill is saying that by the year 2030, it should be scrapped and merged with NASENI and NITDA. “NELFUND will become a dark place that nobody can monitor.

When the loan thing happened in the past, it collapsed. Our idea is that stakeholders should have been invited for the tax review. If TETFund is killed, public universities will collapse in the very near future. If you wanted to review tax, why were states and local governments not invited to be part of the committees to discuss and agree on what make up the content of the reforms? I understand they say every state was carried along, but why are 19 states arguing against it?

Nonetheless, Oyedele said that the Federal Government has no intention to scrap TETFund but to unify the multiple tax system in the country.

“

I heard people debating that Lagos will benefit more from the new sharing formula in the proposed tax reform bills. This should not be the issue to debate on; our leaders should not say so. You said the corporate headquarters were relocated to Lagos, where are your banks’ headquarters in Kaduna or Kano?

“You people were sleeping. You deliberately allowed the population to wallow in poverty. You are shouting over the tax reform bills.

Where are our industries

“We want a tax reform, but it should be people friendly. Taxes should target the rich and be light on the poor. Everybody needs to take their time and study the bills. We don’t want collateral damages. Who is the ultimate consumer that is being talked about with respect to VAT distribution? Is it Aso rock? We need to know,” a vexed Prof Professor Ishaq Akintola of Muslim Rights Concern, MURIC, told this newspaper on Friday.

DATA CHALLENGE At the weekend, Northern lawmakers met and supported a move by a North-based political caucus, League of Northern Democrats, to inaugurate a technical committee to review the contents of the bills, clause-by-clause and suggest ways to safeguard the interests of the North. In the same vein, a lawmaker from Tambuwal Federal Constituency of Sokoto State, Hon. Abdussamad Dasuki, urged the Presidency to “present data showing tax revenue that accrued to states and the FCT from January to September 2024 under the current tax law and the projected tax revenue that would have accrued to each state in the same period under the proposed tax reform bills for lawmakers and other concerned Nigerians to make informed decision on the tax bills currently before the National Assembly.”

WAY OUT The arguments against the bills, according to a former Speaker of the House of Representatives, Yakubu Dogara, “are insufficient to throw the bills away. The politician argued that criticisms about timing and consultations are distractions.

“All we have is now. It is what you are doing now that will become your past. It is what you are doing now that will affect your future. I want to say this about consultation at the state level. How many people do state governors consult when they are making laws? I’m not challenging them. As a matter of fact, in some cases, state laws are written from the living rooms of governors,” Dogara said.

“People are complaining of hunger, these things should be addressed urgently, not going about taxing the people. VAT, which has become contentious, is a consumption tax. So, you are not taxing the one producing but the one consuming.

Tell me how this will assist the production capacities of the states?” Prof Akintola noted.

“It is private companies that are producing, and consumers are the ones paying. Now, because of this, people from the North and South are fighting. These are not the issues that we should be quarrelling about. Where are the refineries and steel plants? These should be the genuine areas of concern for our policy makers. In the 1960s we had regions that were engaged in production,” ASUU president, Osodeke queried.

Oyedele noted that VAT derivation is a sensitive matter because people think about where it is based on production. “If they’re not producing crude oil, you don’t get any part of that derivation.” Oyedele observed that because VAT derivation is different from production-based derivation for oil and gas, it is a delicate topic for the states.

Citing an example with stamp duty collection, which section 163 of the Nigerian Constitution mandates to be shared on the basis of derivation, he maintained that the new tax regime is not strange to the law.

While asking for the identified grey areas in the bills to be addressed, Sheikh Abubakar Gumi, supports the bills: “I heard people debating that Lagos will benefit more from the new sharing formula in the proposed tax reform bills. This should not be the issue to debate on; our leaders should not say so. You said the corporate headquarters were relocated to Lagos, where are your banks’ headquarters in Kaduna or Kano?

“You people were sleeping. You deliberately allowed the population to wallow in poverty. You are shouting over the tax reform bills. Where are our industries? Who among you invested in the industries in Kakuri to sustain them? Only the breweries are still functional in the area. We are always applying politics on issues where there is no need for it.

The President’s attempt to reform the collection system is commendable, continuing in the old system will not be good for the country because of the multiple taxation,” the cleric said.

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NEWS

Director General, National Emergency Agency (NEMA), Mrs Zubaida Umar ; UNICEF Country Representative, Cristian Munduate ; Vice President Kashim Shettima ; Deputy Speaker, House of Representative, Benjamin Kalu and Chairman, Senate Committee on Special Duties, Sen. Kaka Shehu Lawan, during the Launch of Nigeria Hazard Risk Countrywide Analysis 2024 at Fraser Suite, Abuja on Decmber 5, 2024.

Okpebholo Vows Overhaul of Edo Broadcasting Service G

BY FELIX IFIJEH

overnor Monday Okpebholo has pledged to revamp the Edo Broadcasting Service to position it as a globally competitive media organization.

The governor made this commitment during an inspection tour of EBS facilities and several road projects in Benin City, the Edo State capital.

Accompanied by top government officials, Okpebholo visited EBS’s premises and key road projects, including Upper Mission Extension, Aduwawa Junction, Obadan Junction along BeninAuchi Expressway, and Upper Ekenwan Road.

At EBS, the governor, who was received by the station’s Managing Director, Suleiman Aledeh, expressed his dissatisfaction with the current state of infrastructure and pledged to address challenges, including epileptic power supply, lack of a proper studio, and deteriorating access roads.

“You outlined your problems to me, and today, I am here to see them for myself. The issues, such as no electricity and bad roads, must be resolved. This is Edo State property, and it serves the people. We will explore alternatives for electricity, including solar power or brand-new generators, to ensure the station operates 24 hours a day,” Okpebholo said.

He further urged the station’s management and staff to remain professional and not hesitate to criticize his administration when necessary.

“I am here to serve Edo people. If I am going wrong, don’t shy away from telling me,” he added.

Aledeh acknowledged the governor’s proactive approach, stating that EBS faces significant challenges that require urgent intervention.

He emphasised the station’s vision of competing with global media organizations and its mandate to serve as more than just a government mouthpiece.

On the ongoing road projects, the governor reiterated his administration’s commitment to ensuring contractors meet deadlines, particularly before the rainy season.

“With continuous monitoring, we are seeing results. The work at Obadan Junction on the Benin-Auchi Expressway is progressing well. I am confident that this road will be ready for use before Christmas. The contractor is doing a commendable THEWILLNIGERIA

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job, and I am satisfied with the quality and pace of work,” he noted.

Okpebholo assured Edo residents that his government remains

committed to practical governance and delivering the dividends of democracy, emphasising that the projects are part of his broader vision to enhance the state’s infrastructure and public services.

Kano Condemns Barricade of Emir’s Palace By Security Operatives

BY ABDULLAHI YUSUF

he Kano State Government has expressed strong disapproval over the reported barricade of the Emir T of Kano’s palace entrance by armed security operatives,

describing the act as unwarranted and disruptive.

In a statement issued on Friday by the Commissioner of Information and Internal Affairs, Baba Halilu Dantiye, the government condemned the blockade of the Kofar Kudu palace of Emir Muhammadu Sanusi II, which it said had caused unnecessary tension among residents.

“The Kano State Government wishes to express its profound dismay and deep concern over the reported blockade of the entrance to the Kofar Kudu palace of the Emir of Kano, Muhammadu Sanusi II, by heavily armed security operatives,” the statement read.

It added, “This unfortunate development has raised tensions and caused distress among the residents of Kano and the surrounding communities. We strongly condemn any action that disrupts the peace or undermines the dignity of traditional institutions, which are central to the unity and cultural heritage of our people.”

Dantiye assured the public of the government’s commitment to maintaining peace, stability, and the rule of law across the state.

He noted that the government is investigating the reasons behind the incident and is engaging with the

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relevant authorities to ensure a swift and peaceful resolution.

The commissioner urged Kano residents to remain calm, and law-abiding, and continue their normal activities while refraining from spreading unverified information that could escalate panic and tension.

“The Kano State Government remains resolute in its commitment to protecting the rights and welfare of its people and ensuring the continued stability of our great state,” Dantiye added.

Meanwhile, the Emir has warned residents of the state not to resort to violence in their response to the development.

“I warn you against falling into the traps of enemies of Kano who want to see Kano on fire. They always want to see killings, destruction of public property, and maiming of innocent lives,” Sanusi said.

Sanusi who sounded the warning in his Juma’at sermon at the Kano Central Mosque, said peaceful co-existence, no matter the provocation, is far better than violence.

“Islam has admonished you to be patient at any given time, whether in a difficult situation, or at peace, or you are attacked. With patience, one becomes great, but refusing to be patient creates uncertainty, difficulties and in the end, everyone loses,” he said.

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NEWS

Governor Dapo Abiodun of Ogun State and President of African Development Bank (AfDB), Dr. Akinwumi Adesina, at the ongoing Africa Investment Forum Market Days in Rabat, Morocco, recently.

Tinubu Replaces Ginsau With NOA, Stakeholders Advocate Collective Abdullahi as NWDC Chairman, Efforts To Fight Gender Base Violence Appoints Atuma to Lead SEDC T FROM JOSEPH AMEDU, LOKOJA

BY FELIX IFIJEH

P

resident Bola Tinubu has submitted a revised list of nominees for the inaugural Governing Board of the North-West Development Commission to the Senate for confirmation.

The revised list replaced Ambassador Haruna Ginsau as chairman with Alhaji Lawal Samai’la Abdullahi.

In addition, the President has nominated Hon. Emeka Atuma as the pioneer chairman of the South-East Development Commission alongside Hon. Mark C. Okoye as Managing Director/Chief Executive Officer, subject to Senate confirmation.

In a statement issued on Friday by Bayo Onanuga, Special Adviser to the President on Information and Strategy, Tinubu replaced Ginsau along with Senator Tijani Yahaya Kaura and Hon. Abdulkadir S. Usman, who were originally nominated in September.

The new NWDC nominees include Ja’afar Abubakar Sadeeq and Yahaya Aminu Abdulhadi, with Professor Abdullahi Shehu Ma’aji retaining his role as Managing Director/Chief Executive Officer of the commission.

Other members of the NWDC board include Dr. Yahaya Umar Namahe, Engr. Muhammad Ali Wudil, Shamsu Sule, Nasidi Ali, and Aminu Suleiman.

The new list also introduced representatives from other geopolitical zones, as mandated by recent

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amendments to the NWDC’s enabling Act. These nominees include Chukwu Chijioke, Ahmed Mohammed, Engr.

Ahmed Rufai Timasaniyu, Macdonalds Michael Uyi, Yemi Ola, and Hon. Babatunde Dada.

For the South-East Development Commission, the President appointed a comprehensive board. Alongside Hon. Atuma and Hon. Okoye, other members include Barr. Ugochukwu H. Agballah, Hon. Okey Ezenwa, Chief Hyacinth Ikpor, Hon. Donatus Eyinnah Nwankpa, Barr. Ifeanyi Agwu, Nasiru Usman, and Hamma Adama Ali Kumo.

Additional nominees for key executive roles are Edward David Onoja, Orure Kufre Inima, Chief (Mrs.) Joke AdebayoChukwuma, Prince Obinna Obiekweihe (Executive Director, Projects), Senator Anthony O. Agbo (Executive Director, Finance and Administration), and Dr. Daniel Ikechukwu Ugwuja (Executive Director, Corporate Services).

Tinubu emphasised his administration’s commitment to regional development and tasked the nominees with leveraging their expertise to fulfill the mandates of the commissions.

He expressed optimism that the leadership of the two commissions would catalyze sustainable growth and development in their respective regions.

he National Orientation Agency (NOA) and other stakeholders have called on Nigerians to join hands in the fight against Gender Base Violence (GBV) to promote equality in the society.

a continuous one as well as the advocacy visits to individuals, communities, organizations and government agencies geared towards addressing gender based violence in Nigeria,” he said.

The Director General of NOA, Mallam Lanre IssaOnilu, made the call at a Town hall meeting in Lokoja, organised by the Agency as part of activities to mark the “16 Days Activism Against Gender Base Violence (GBV).

In his remarks, the Kogi State Police Commissioner, CP Betrand Onoha, said the fight against GBV should be a collective fight as it affects the entire society.

Represented by the Acting State Director of NOA, Kogi Directorate, Patrick Edogbanya, Issa-Onilu, said the GBV has become a rising menace affecting the system, and required a multi-faceted approach involving everyone in the society.

He pointed out that effort should be geared toward eliminating any form of violence against women and children.

According to him, when a woman is being violated, the society remain unstable, and NOA will continue to do its best to end GBV through the collaboration of traditional rulers, religious leaders and other critical stakeholders.

“So, this town hall meeting by NOA is going to be

He lamented that violence against children or minors that were taboo in the olden days has become a norm these days.

Onuoha, who was represented the Police Public Relations Officer (PPRO), SP Williams Aya, stressed the need for proactive approach to critically addressed the menace of gender based violence.

He, however urged NOA to put more effort in taking the sensitization to various level of education in order to imbibe value re-orientation in the minds of the younger ones in the society.

“The traditional rulers and religious leaders have significant roles to play in ensuring that the causes of GBV are nip in the bud by exposing perpetrators of violence against women and children.

Imo PDP Expels Reps Member Ikenga Ugochinyere

BY FELIX IFIJEH

T

he Peoples Democratic Party (PDP) in Imo State has announced the expulsion of the member representing Ideato North/Ideato South Federal Constituency in the House of Representatives, Ikenga Ugochinyere.

A press statement issued by the Publicity Secretary of the Imo State chapter of the PDP, Lancelot Obiak, said Ugochinyere was expelled with immediate effect over gross indiscipline, insubordination, and anti-party activities.

According to the statement, Ugochinyere was expelled by the executive of the PDP in Ideato LGA in a letter dated December 5, 2024.

Jointly signed by the LGA Chairman, ThankGod Okeke, and Secretary, Onyebuchi Umeh, the letter stated that Ugochinyere was THEWILLNIGERIA

found guilty of consistently making derogatory and provocative public statements against the party and some of its national leaders, an action that brought the party to public ridicule.

“The expulsion was conveyed in a letter by the Ideato LGA chapter of the party dated December 5, 2024, and signed by the LGA Chairman, Hon. ThankGod Okeke and the Secretary, Onyebuchi Umeh, which they addressed to the State Chairman.

“The expulsion followed the report of the party’s disciplinary committee, dated November 27, 2024, which investigated misconduct charges against Ugochinyere in line with Section 57 (14) of the PDP constitution 2017 as amended”, the statement added.

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Mutfwang: Putting Plateau Beyond Politics

BY UKANDI ODEY

D

uring this period last year, the socio-political atmosphere in Plateau State was characterised by frenzy, trepidations, and fever-pitch palpitation as uncertainty loomed about the political fate and direction of the state. One year or 365 days later, the storm has given way to calm, stability, focus and direction in governance and consolidation of the Plateau project.

The “unity prayers” event has earned a unique place in the history of the State for its ability to bring all past leaders of the State together for a solemn and common purpose, for them to rethink their contributions to the development of the State, and the prospect that there is still more to be done, and that together they can still do better.

One year later, it is another season and another experience.

Against a Plateau bitterly divided along ethnic and geopolitical lines, with political landmines planted and booby traps set everywhere to undo the winner of the 2023 gubernatorial election, it is now a calm and discerning Plateau in which the sobriety that comes with self-realisation and sheathing of swords is bonding the political elites and neutralising old hostilities.

The “unity prayer” was the first of such in the country when and where a serving governor demonstrates the imperative of putting the state and its destiny beyond the idiosyncrasies and parochialisms of politics, and explores camaraderie and es- sprit de corps as instruments to strengthen unity by fostering reconciliation, forgiveness, tolerance, and appreciation of one another’s social differences in order to entrench peace and enduring harmony for collective security and progress.

The prevailing atmosphere of peace, reconciliation and unity is not a free gift from space. It depends on the disposition of Governor Caleb Mutfwang who, by his words and pledge to his notable friends before the election that brought him to power, did not just win to become governor, but to “provide (quality) leadership”.

A brief excursion into history will help you locate the basis and rationale of the course Mutwang is charting.

Political hostilities and hot exchanges between former Governor Joshua Chibi Dariye and his successor, former governor Jonah David Jang apparently worsened while the latter held sway as governor of the state. Jibes and slurs were not uncommon as the Jang camps and their agents continually cast aspersions on the Dariye era as one without a development programme and worst in terms of profligacy, official corruption and squandermania.

Although Dariye’s men were dutifully on the counter and pulled back shots from time to time to harass and embarrass the Jang government and its arsenal, they soon ran out of steam, scampered, and became veritably harmless bullets, as Dariyes’s road to waterloo and sociopolitical oblivion and melancholy was shortening.

The transfer of power in 2015 from Jonah David Jang to Simon Bako Lalong, an arguably ill-prepared APC package with doubtful govvernorship credentials coasted to power by the fangs of the angry electorate in Plateau, was even more embittered. This was understandably so because this was transfer of power from one political party to the other. But, again, it fitted into the statewide anger against Jang for attempting to obstruct the unwritten agenda of term limits and power rotation that have moderated and modulated power sharing in the state since 1999.

As if the administration will not under-perform and leave the people and the state worse off after eight years, Lalong orchestrated punitive organograms to vitiate his rise to power and vilify the outgoing as a monolithic predator who sought to foist a family dynasty to supplant the progressive diversity of the people. To deepen the animosities, Lalong’s transition committee headed by his deputy, Sonni Tyoden, wrote and submitted a damning report that dismissed Jang’s second tenure (2011-2015) as an absurdity in public administration characterised only by family frolic and patronage.

Eight years later, both Lalong and Tyoden were drenched in the stench of a bizarre bazaar that featured desperate incendiary characters that left the stage worse than they met it. At their departure, the state was comprehensively in debt and in doubt, having been pilfered bare and pilloried to its jugular.

Desperate and utterly at a loss, but sure of his failure and prospect of successor haunt and taunt, Lalong deployed variegated tactics and twists including subterfuge to perpetuate his party in power until he was halted and humbled by the Supreme Court.

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“

The organisers of the event did not only reach out to past governors and leaders of Plateau, military or civilian, there was proper identification and recognition of the numerous illustrious sons and daughters of the state who have served in one capacity or the other in the public space. Besides, the sense of belonging and commitment of each of the past leaders of the state was cultivated and enlisted. Thus, when former Governor Joshua Chibi Dariye was called upon to take the First Reading on the first day of the religious fiesta, he felt a sense of commitment; and carried out the assignment with such candour and zest that speak only of a genuine representative of a congregation and people.

On each day of the three-day event, the spirit and solemnity of the occasion increased with a catch-all ferocity and momentum as attendance for each day retained an upward curve, culminating in an exponential and tidal number on the last day of the event.

The organisers of the event did not only reach out to past governors That it was historic and of national consequence is true for several reasons. It did not only have in attendance and leaders of Plateau,military two former heads of state of Nigeria, it was an event that put the duo of Generals Yakubu Gowon and Olusegun or civilian,there was proper Obasanjo together for three days arguably for the first time, forty nine years after their membership of the identification and recognition of Supreme Military Council, SMC. the numerous illustrious sons and While Governor Mutfwang, at the occasion, observed that “we have begun a journey as a people...a journey daughters of the state who have to unity, a journey to peace, a journey to progress, and a journey to fulfilling the prophetic destiny of Plateau it was more than a Plateau State “journey” as served in one capacity or the other in State”, Gowon and Obasanjo used the opportunity to share notes in national leadership. For the first time in almost the public space thirty years, General Gowon revealed how he personally However, Governor Mutfwang has charted and continues to chart a new course for the greater interest of the state. Last week’s religious grand slam, tagged Interdenominational Unity Christmas Carol and Praise Festival, turned out to be a real unity and uniting fiesta which gains are still counting. Even if the success of the programme hosted on a pious property uniquely christened Ten Commandments in Doi village of Jos South was not imagined at conception, that the programme was conceived at all and planned to recognise and rally all and sundry points to Mutfwang’s genuine commitment to his pledge to “provide leadership”.

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appealed via a personal letter to the late General Sani Abacha not to waste Obasanjo’s life as a result of the 1995 controversial coup claims by the Abacha regime. A sober and appreciative Obasanjo who confessed ignorance of Gowon’s goodwill and intervention for his life until this encounter at the Ten Commandments in Jos, thanked his “Boss” nonetheless for that show of kindness and love.

Governor Mutfwang used the occasion to urge his people: “let us move together”. For a state that has fought many wars and survived many trials the occasion was a “unity prayer” overdue; it was no less a brilliant leadership outing for Governor Caleb Mutfwang, the convener.

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EDITORIAL

SUNDAY, DECEMBER 08, 2024 WWW.THEWILLNEWS.COM

A Disturbing Report As already mentioned, this trend in the public system is disturbing. It shows the level of impunity that has pervaded the bureaucracy and hampers its effectiveness in assisting governments to implement beneficial and remedial policies. That it has assumed a trend proves that no deterrence or punishment whatsoever has been done or put in place to stop it.

“

NIGERIA BUREAU: 36AA Remi Fani-Kayode Avenue, GRA, Ikeja. Lagos, Nigeria. info@thewillnews.com +234 810 345 2286, +234 913 333 3888 @THEWILLNG LETTERS/OPINIONS: opinion.letters@thewillnews.com

A

fortnight ago, the Auditor-General of the Federation, Shaakaa Chira, posted a disturbing report about irregular payments for contracts totalling over N197.72bn across various ministries, departments and agencies, MDAs, in the country. In all, 32 MDAS are involved in this brazen corruption.

All of them reportedly breached Paragraph 292, (i) of the Financial Regulations (2009), which mandates open competitive bidding for all procurement processes.”

The AG yearly report on Non-Compliance and Internal Control Weakness, covered projects undertaken by the MDAs between 2020 and 2021.

The audit report reads, partly, “The sum of N7,386,551,051.09 (seven billion, three hundred and eighty-six million, five hundred and fifty-one thousand, fifty-one naira, nine kobo) was the amount of irregularities in the award of contracts by 32 ministries, departments and agencies.

“The Rural Electrification Agency, Abuja, has the highest amount of N2,117,143,168.09 (two billion, one hundred and seventeen million, one hundred and three thousand, one hundred and sixty-eight naira, nine kobo), while the Nigerian Security Printing and Minting Company Plc (NSPM) has the least amount of N11,720,000 (Eleven million, seven hundred and twenty thousand naira).”

In another light, N167.59bn was paid for contracts that were either partially done or undone. Among the highest violators of these, “established financial regulations and procurement laws,” are the Nigerian Bulk Electricity Trading Plc in Abuja, which accounted for N100bn of these irregular payments, making it the highest in this category and the National Centre for Women Development, which recorded the lowest irregularity at N2.17m.

The report also uncovered violations of due process in contract awards amounting to

N20.33bn across 24 MDAs.

Furthermore, the report added that, “The sum of N2,407,710,913.92 (two billion, four hundred and seven million, seven hundred and ten thousand, nine hundred and thirteen naira, ninety-two kobo) was the amounts of contracts awarded above the threshold by five ministries, departments and agencies.”

It criticised the weak internal controls within the MDAs and highlighted the need for stricter enforcement of financial regulations.

The report ended by saying that the “Public Accounts Committees of the National Assembly have been notified of the findings, with recommendations to ensure accountability and prevent recurrence.”

The time frame of this report is 2020 and 2021.

That was three years ago when the country was ruled by the Muhammadu Buhari Administration which made anti-corruption one of its three platforms alongside insecurity and welfare.

Indeed, the Buhari administration was particularly notorious for encouraging this trend. The poor compliance of MDAs to Nigerian laws on submission of accounts got worse in each of Mr Buhari’s first two years in office than any previous year since Nigeria returned to democracy from military dictatorship in 1999.

According to the former Auditor-General of the Federation, Anthony Ayine, 324 MDAs failed to submit their accounts for audit in 2016, while 215 MDAs failed to submit in 2015. “In each of the 22 previous years before that, the highest number of non-submissions was 148, in 2014,” he said.

The ex-auditor-general summed up the situation thus: “The Financial Statements of Government Statutory Corporations, Companies, Commissions, etc, otherwise called parastatals are not audited by my Office, in line with Section 85(3) (a) of the 1999 Constitution. However, in accordance with Section 85(3) (b) of the Constitution, their Annual

Accounts and Auditor’s reports thereon shall be submitted to me for comments.

“Most of the government Corporations, Companies and Commissions have not submitted their audited accounts for 2016 to me. Only 51 audited Financial Statements for 2016 and 149 for 2015 have been submitted to my Office as at 27th December, 2017, despite the provision of Financial Regulation 3210(v) which enjoins the Chief Executive Officers of these bodies to submit both the Audited Accounts and Management Report to me not later than 31st May of the following year of Account.”

As already mentioned, this trend in the public system is disturbing. It shows the level of impunity that has pervaded the bureaucracy and hampers its effectiveness in assisting governments to implement beneficial and remedial policies. That it has assumed a trend proves that no deterrence or punishment whatsoever has been done or put in place to stop it. This is shamefully unbelievable and puts a lie on the anti-corruption stand of the government.

Fair enough, the AGF has done his part, which is to remove the secrecy surrounding the tender and contracts, but what about deterrence and punishment.

As the AGF rightly reported, this cooking of the books by MDAs contravenes Paragraph 708 of the Financial Regulations, which prohibits payments for services or goods not yet delivered and Section 16(21) of the Public Procurement Act (PPA) 2007 which call for strict adherence to procurement plans and mandatory approvals before contract awards.

We call on the relevant National Assembly Committees, the Office of the Head of Service of the Federation and the federal government to combine efforts on eradicating this plague which only serves to deepen the culture of impunity that keeps disrupting the system and pushes the country backwards and underdeveloped.

THEWILL NEWSPAPER TEAM Publisher/Editor-in-Chief

Cartoon Editor

Ag. Head, Graphics

Austyn Ogannah

– Victor Asowata

–

Ag. Editor – Amos Esele Business Editor – Sam Diala

Entertainment/Society Editor – Ivory Ukonu

Circulation Manager – Victor Nwokoh

Copy Editor – Chux Ohai

Photo Editor – Peace Udugba

Guest Art Director – Sunny Hughes

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OPINION

SUNDAY, DECEMBER 08, 2024 WWW.THEWILLNEWS.COM

13

Wole Olanipekun and Cartography of Compassion

BY ABIODUN KOMOLAFE Salus populi suprema lex esto – Cicero

T

he commissioning of the Wole Olanipekun Senate Building at the Bamidele Olumilua University of Education, Science and Technology (BOUESTI), Ikere-Ekiti, Ekiti State, last Thursday, has again testified to the power of visionary leadership and the boundless potential of human generosity.

In a world where the pursuit of knowledge is often overshadowed by the pursuit of power and wealth, Wole Olanipekun’s commitment to the ‘civilising mission’ of education is a breath of fresh air. This iconic Senate Building stands as a beacon of hope and an illuminating path IN A WORLD WHERE WEALTH AND POWER to a brighter future for generations of OFTEN DEFINE LEGACY, INDIVIDUALS LIKE students, scholars THE ROCKEFELLERS, CADBURYS AND FORDS and leaders.

HAVE LEFT AN INDELIBLE MARK ON SOCIETY. THEIR CONTRIBUTIONS HAVE TRANSCENDED GENERATIONS, INSPIRING FUTURE LEADERS TO FOLLOW IN THEIR FOOTSTEPS. OLANIPEKUN IS A CONTEMPORARY EXAMPLE OF THIS SELFLESS APPROACH

The Wole Olanipekun Senate Building is the latest addition to the legal luminary’s benevolent social interventions.

As Pro-Chancellor and Chairman of the Governing Council of the University of Ibadan (2009-2013), he oversaw the expansion of the institution to Ajibode, easing congestion on the main campus. Notably, he donated a 450-capacity law auditorium to Ajibode Campus, setting a precedent for private sector support for public education.

The auditorium was commissioned by the then Minister of Education, Professor Ruqquayat Rufai, on November 17, 2012. During Olanipekun’s tenure, the University experienced a transformative era of innovation and growth As Pro-Chancellor and Chairman of the Governing Council, Ajayi Crowther University (ACU), Oyo (2013–2022), Olanipekun built and donated to the University a magnificent Vice-Chancellor’s Lodge, named Wole and Lara Olanipekun Vice-Chancellor’s Lodge. In January 2023, the proprietors of ACU appointed him as the Chairman of the Board of Trustees, a position he currently holds.

In February 2021, the Asiwaju of Ikere Kingdom was appointed as the pioneer Chancellor of the newly-established BOUESTI, a position he has also held to date. The Senate Building gifted to the University by the former Attorney-General and Commissioner for Justice in the old Ondo State was commissioned last Thursday.

When the Ladoke Akintola University of Technology, Ogbomoso (LAUTECH), faced a prolonged crisis, resulting in a two-session closure, the Governors of Oyo and Osun States jointly appointed Olanipekun to lead a panel to resuscitate the institution. He accepted the pro-bono assignment and the panel was inaugurated on October 28, 2016. In 2017, Olanipekun submitted comprehensive reports to the governors, and the implementation of his panel’s recommendations successfully led to the university’s reopening, with academic activities running smoothly ever since.

On January 19, 2023, Governor Biodun Oyebanji of Ekiti State, commissioned an ultra-modern High Court Complex, built and donated by Olanipekun to the Ekiti State High Court, Ikere Judicial Division. Also that year, the 20th President of the Nigerian Bar Association (NBA) and 50th Chairman of the Body of Benchers was appointed as a Visiting Professor of Law Practice by the Federal University, Oye, Ekiti State, making him the first legal practitioner to hold this position in Nigeria.

On June 15, 2024, President Bola Tinubu announced the appointment of this foremost Nigerian citizen, “who can do anything for education”, as the Pro-Chancellor and Chairman of the Governing Council, University of Lagos. Of course, it was a fitting recognition of his stature and influence. Olanipekun and all other members of the Governing Councils of Federal Universities and Tertiary Institutions were formally inaugurated on July 4, 2024.

Olanipekun’s philanthropic endeavours have significantly impacted numerous individuals and communities. The Wole Olanipekun Scholarship Scheme (WOSS), established in 1996, has produced over 3,019 beneficiaries across various disciplines, in and outside Nigeria. In 2020, he founded the Wole Olanipekun Foundation (WOF) Empowerment Programme to support vulnerable groups. To date, the Foundation has empowered over 200 widows, 200 aged people and 400 young entrepreneurs, in addition to 600 palliative beneficiaries. His donations to universities and educational institutions continue to demonstrate his commitment to empowering future generations through education.

Described by Oyebanji as “a man loved by God who uses his kindheartedness to serve humanity”, Olanipekun continues to empower Nigerians through his philanthropic initiative, which has successfully completed its 5th edition. As part of this effort, he also awards scholarships to deserving students, with over 28 batches of beneficiaries impacted so far.

Olanipekun’s achievements testify to the power of understated generosity, even as his remarkable journey in law serves as a powerful rebuke to a society that often prioritises profit over principle. In a world where wealth and power often define legacy, individuals like the Rockefellers, Cadburys and Fords have left an indelible mark on society. Their contributions have transcended generations, inspiring future leaders to follow in their footsteps. Olanipekun is a contemporary example of this selfless approach. As a Yoruba man, he drew inspiration from Nigeria’s first lawyer, Christopher Alexander Sapara Williams (1855-1915), Nigeria’s first lawyer who believed that “a lawyer lives for the direction of his people and the achievement of the cause of his country.”

This ‘Pride of Ekiti’ also continues the tradition of great lawyers like Sir Adeyemo Alakija, who saw the law as a tool for social progress and human upliftment. This wave of progressive thinking *Continues online at www. thewillnews.com

Kano’s Education State of Emergency: The Successes and Challenges

BY ABDULLAHI YUSUF

B

y some definitions, education is both the act of imparting knowledge to others and the act of receiving knowledge from someone else. Scholars have also defined education as the knowledge received through schooling or instruction.

Education plays a very important role in the life of a person as it trains, equips and prepares him or her to face and surmount the challenges of life.

This essential sector has, however, suffered neglect in Kano State, over the years, with primary schools and secondary schools sustaining dilapidated classrooms and a dearth of furniture, teachers and instructional materials, among other challenges.

This apparent decay in the sector prompted the administration of Governor Abba Kabir Yusuf to declare a State of Emergency to arrest the situation and restore the lost glory of education in the state.

While declaring the State of Emergency in the sector on June 8, 2024, Governor Abba Kabir Yusuf said inter alia: “As your elected Governor entrusted with the solemn responsibility of steering our state towards prosperity and progress, I cannot ignore the glaring reality that confronts us in the realm of education.

“With education being our number one priority, and believing that education is not only a public good, but also the greatest asset that any people can bequeath to its upcoming generation because no people can grow beyond the quality and standard of their education system, we must, therefore, take radical but practical measures to reposition education provisioning in our state.

“Nearly four out of every five classrooms in our primary and junior secondary schools are marred by dilapidation and disrepair, rendering them unsuitable for the noble pursuit of knowledge.

“Today, I stand before you to announce the declaration of a STATE OF EMERGENCY in the education sector. A state of emergency, as declared today, is an extraordinary legal measure that allows us to take some bold steps to address these critical challenges swiftly and effectively”, the governor said.

Five months after the commencement of the implementation of the State of Emergency in the all-important sector, members of the Correspondents’ Chapel of the Nigeria Union of Journalists(NUJ), Kano Council, set out on a tour of projects being executed by the State Government under the initiative, and their findings were quite revealing as they were educative.

The tour took the Reporters to many primary and junior secondary schools in whose premises a one-storey block of four classrooms each is being constructed across the 44 local government areas of the state to address the challenge of inadequate infrastructure bedevilling the education sector.

The writers also monitored the provision of furniture and instructional materials as well as the deployment of more teachers as part of the efforts of the Government to respond to the challenges in the sector.

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The schools visited included but not limited to Namadi Primary School, Unguwar Jakada in Gwale Local Government Area, Sabon Layi Special Primary School, Bichi, in Bichi Local Government Area, Dawakin Tofa Model Primary School in Dawakin Tofa Local Government Area and Garin Dau Central Primary School in Warawa Local Government Area.

HOWEVER, THE IMPLEMENTATION OF A STATE OF EMERGENCY IN THE EDUCATION SECTOR IS FRAUGHT WITH CHALLENGES. THESE INCLUDE INADEQUATE FURNITURE, TEACHING AND LEARNING MATERIALS, TOILET FACILITIES AS WELL AS A DEARTH OF CLASSROOMS AND TEACHING STAFF IN THE PRIMARY AND SECONDARY SCHOOLS VISITED instructional materials and deployment of additional teaching staff.

Others include Hotoro South Special Primary School, Chula Central Primary School in Ajingi Local Government Area, Yelwa Model Primary School in Dala Local Government Area, Ungogo Special Primary School in Ungogo Local Government Area and Kumbotso Special Primary School in Kumbotso Local Government Area.

In virtually all these schools visited, it was observed that the implementation of the State of Emergency has taken shape with the construction of a one-storey block of four classrooms reaching an advanced level of completion, provision of more furniture and

Another notable development in the schools is the high level of attendance of pupils and teachers, with lessons going on steadily, which, it was gathered, was encouraged by the ongoing efforts of the State Government to improve the standard of education, especially as it was evident in the provision of furniture and teaching aides such as books and writing materials.

Some stakeholders interviewed Governor Abba Kabir Yusuf for launching the education revival programme.

The stakeholders who included Sarkin Fulani Dagacin(Village Head) of Kumbotso,

*Continues online at www. thewillnews.com

SUNDAY, DECEMBER 08, 2024 • VOL. 4 NO. 85 WWW.THEWILLNEWS.COM

Q3 2024: FCMB’s 63% Pre-tax Profit Signals Strong Yearend Growth

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BoI, AGF Sign $50m Portfolio Agreement to Support Women in Finance / PAGE 15

EDITOR Sam Diala

Malta Among Nigeria’s Major Import Trading Partners in Q3 2024

BY SAM DIALA NIGERIA'S PETROL IMPORTATION 2016-2023 10TRN

(N'trn) 8TRN

6TRN

7.7.5 trn

4TRN

D

E

7.7 trn

C

2.00 trn

M

B

1.71 trn

A

1.97 trn

1.63 trn

0

4..56 trn

2TRN

2.95 trn

F

CMB Group Plc recently announced a pre-tax profit of N27.6 billion for the third quarter of 2024, up from N16.9 billion in the same period last year, and this points to a bountiful 2024 annual performance.

The growth marks a year-on-year increase of 63.35 percent, bringing the total pre-tax profit for the nine months ending September 30, 2024, to N91.8 billion.

In Q3 2024, the company saw a 77.06 percent increase in earnings from fees and commissions, reaching N16.3 billion Additionally, the net trading income saw a substantial rise, from N1.1 billion in Q3 2023 to N18.4 billion, mainly due to gains from trading FGN bonds.

FCMB’s Q3 2024 results highlights a strong performance despite a significant increase in interest expenses during the quarter.

Gross earnings for Q3 2024 climbed by 88.18 per cent year-on-year to reach N213.3 billion, contributing to a ninemonth total of N587.7 billion.

However, this positive momentum was partly offset by a 160.36% increase in interest expenses, which reached N109 billion for the quarter.

Much of this rise was due to higher costs from deposits and borrowings, which contributed to the increased financing expenses.

On the other hand, FCMB’s net fee and commission income grew by 77.06 percent, reaching N16.3 billion for the third quarter.

This growth added to the company’s overall performance, with service fees

F

G

2016

B

2017

C

2018

D

2019

E

2020

F

2021

G

2022

H

2023

H

Source; NBS

alta, the tiny European island country in the Mediterranean Sea, off the Italian coast, was among Nigeria’s top five trading countries in terms of import in the third quarter of the year (Q3 2924), according to data from the National Bureau of Statistics (NBS).

The NBS which showed this in its Foreign Trade in Goods Statistics report released on Friday, December 6, listed China, India, Belgium, United States and Malta in the league of top 5 countries of origin in Nigeria’s import trade.

The countries accounted for 24.36 percent, 11.33 percent, 11.13 percent, 6.98 percent and 5.23 percent of total imports for the quarter, respectively.

The featuring of Malta in Nigeria’s trading merchandise reports came into prominence in July 2024, when the founder of the Dangote Petroleum Refinery, Alhaji Aliko Dangote, alleged that some officials of the Nigerian National Petroleum Company Limited (NPPCL) have blending plants in Malta from where they shipped substandard petrol to Nigeria.

The allegation came on the heels of attempts by some government officials to demarket Dangote Refinery, which prompted the billionaire businessman to fire back, leading to media outlets priming into the Malta affair.

Indications thereafter emerged that Nigeria imported fuel worth $2.25 billion from the small foreign country in nine years. Amid the crisis surrounding his $20 billion refinery, Dangote had said, “Regarding some of the terminals, some of the NNPC people and some traders have opened blending plants somewhere off Malta.

We all know these areas. We know what they are doing.”

According to information on Trade Map, Nigeria imported petroleum oils obtained from bituminous minerals worth $2.8 billion in 2023, jumping by a 342 percent increase from $47.5 million in 2013.

Furthermore, Nigeria imported fuel worth $59.98 million in 2014; $117.01 million in 2015 and $13.32 million in 2016.

It was also observed that from 2017 to 2022, there was no fuel importation into Nigeria from Malta. However, there was a geometric leap in 2023 when Nigeria imported fuel worth $2.08 billion from Malta But the Group Chief Executive Officer of the NNPC, Mele Kyari, denied owning a blending plant outside Nigeria. He also said he was not aware of any employee of the NNPC that owned or operated a blending plant in Malta or anywhere else in the world.

In the latest foreign trade in statistics report, the NBS revealed that Nigeria’s total merchandise trade stood at N35.16 trillion in Q3, 2024. This represents an increase of 81.35 percent, compared to the value recorded in the corresponding period of 2023 and a rise of 13.26 percent over the value recorded in the preceding quarter.

In the quarter under review, exports accounted for 58.27 percent of total trade with a value of N20.48 trillion. This showed an increase of 98.00 percent rise over the value recorded in the third quarter of 2023 (N10.34 trillion) and 16.76 percent, compared to the value

THE MERCHANDISE TRADE BALANCE FOR Q3 2024 REMAINED POSITIVE AT N5.81 TRILLION INDICATING AN INCREASE OF 43.60 PERCENT COMPARED TO THE VALUE RECORDED IN THE PRECEDING QUARTER

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SUNDAY, DECEMBER 08, 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

BUSINESS WEEKLY ...Import Trading Partners ...FCMB’s 63% Pre-tax Profit Signals Strong Year-end Growth which totaled N1.2 trillion, loans which bolstered FCMB’s overall and commissions making up more in Q3 2024 and advances to customers, which revenue. than half of its total commission Continues from page 15

recorded in Q2 2024 (N17.54 trillion).

Nigeria’s exports trade continued to be dominated by crude oil exports, in the third quarter of 2024. Crude oil export was valued at N13.40 trillion, representing 65.44 percent of total exports. In that growth trajectory, the value of noncrude oil exports stood at N7.08 trillion accounting for 34.56 percent of total exports; of which non-oil products contributed N2.5 trillion or 12.21 percent of total exports.

On the other hand, the share of imports accounted for 41.73 percent of total trade in Q3 2024 with the value of imports amounting to N14.67 trillion in Q3, 2024.

This value indicates an increase of 62.30 percent, compared to the value recorded in Q3 2023 (N9.04 trillion) and 8.71 percent over the value recorded in Q2 2024 (N13.49 trillion).

The merchandise trade balance for Q3 2024 remained positive at N5.81 trillion, indicating an increase of 43.60 percent compared to the value recorded in the preceding quarter.

The value of total imports stood at ₦14,67 trillion in the quarter under review, representing a rise of 62.30 percent from the value recorded in the corresponding quarter of 2023 (₦9.04 trillion) and increased by 8.71 percent compared with the value recorded in Q2, 2024 (₦13.49 trillion).

“China remains Nigeria’s highest trading partner on the import side in the third quarter of 2024, followed by India, Belgium, United States of America and Malta.

“The most traded commodities imported during the quarter were Motor spirit ordinary, Gas oil, Durum wheat, Cane sugar meant for sugar refinery and Used Vehicles, with diesel or semidiesel engine, of cylinder capacity >2500cc,” the report stated.

The boom in Nigeria’s merchandise trade is attributed majorly to the devaluation of the naira which crashed from N467 to a dollar on June 13, 2023 a day before the floating of the Naira, to N1,535 to a dollar on the official window on Friday, December 6, 2024.

income for the nine months, which totalled N29.1 billion.

Similarly, the net trading income saw a sharp increase of 1555.04 percent year-on-year, rising to N18.4 billion, primarily driven by foreign exchange gains and strong performance in FGN bond trading.

These gains contributed to the overall increase in trading income for the nine-month period, which reached N27.3 billion, with foreign exchange trading accounting for N17.9 billion of the total.

The company also saw ‘other income’ grow by 104.38% yearon-year, reaching N21 billion for the third quarter. Much of this was fueled by foreign exchange gains,

Despite the rise in interest expenses, FCMB’s profit margins remained robust. Pre-tax profit for Q3 2024 grew by 63.35 percent to N27.6 billion, while post-tax profit surged by 66.55 percent, reaching N22.9 billion.

Analysts note that the strong performance was reflected in a marked increase in earnings per share, which rose to N4.63 from N2.78 in the previous year, a 66.55 per cent jump in Q3.

FCMB’s total assets grew by 54.21 percent year-on-year to N6.8 trillion as of September 30, 2024.

Key components of this growth include investments in securities,

rose to N2.5 trillion, and restricted reserve deposits, which amounted to N1.1 trillion.

“We continue to leverage our unique Group structure to build a technology driven ecosystem that is fostering inclusive and sustainable growth in the communities we serve.

“This strategy is enabling us to deliver robust performance in spite of the challenging domestic and global environment.

“Barring unforeseen circumstances, we believe this trend will be sustained and accompanied with improving efficiencies arising from greater scale and ongoing digitization,” the bank said.

Abiodun Courts Foreign Investors For Livestock, Timber, Automobile Projects

BY SEGUN AYINDE, ABEOKUTA

G

overnor Dapo Abiodun of Ogun State has called on foreign investors to seize the numerous investment opportunities in the state, emphasising its readiness to host projects in critical sectors.

The governor made this appeal during a meeting with the President of the African Development Bank, Dr. Akinwumi Adesina, at the ongoing Africa Investment Forum Market Days in Rabat, Morocco.

Abiodun highlighted key areas for investment, including livestock value addition, timber processing, renewable energy, and power generation. He

also revealed plans to establish an automobile assembly plant and extend Lagos’ red and blue rail lines from Agbado to Kajola and from Okokomaiko to Agbara/Lusada, alongside the development of the Purple Line project.

Speaking about the meeting, the governor commended Adesina’s commitment to linking sub-national governments across Africa with investors and innovative financing opportunities.

He said, “Our discussions with Dr. Akinwumi Adesina centered on strategic projects we aim to pursue in

Ogun State.

“We appreciate AfDB’s critical role in connecting sub-national entities to potential investors and ensuring proof of financing for major initiatives.

This engagement underscores our commitment to leveraging strategic partnerships and innovative funding solutions for sustainable development and economic growth in Ogun State.”

The governor’s participation in the Africa Investment Forum is part of his administration’s broader efforts to attract foreign direct investments to Ogun State, positioning it as an economic hub in Nigeria.

BoI, AGF Sign $50m Portfolio Agreement to Support Women in Finance

T

he Bank of Industry (BoI) and African Guarantee Fund (AGF) have signed a 50 million dollars portfolio guarantee agreement in support of the African Development Bank’s Group (AfDB) Affirmative Finance Action for Women in Africa (AFAWA).

The Managing Director, BoI, Dr. Olasupo Olusi, made this known on Friday in Lagos, via a statement.

Olusi said that the milestone represented the dawn of an exciting new chapter for women entrepreneurs, Micro, Small, and Medium Enterprises (MSMEs), and green businesses in Nigeria.

He said that the development solidified a collaboration that promises to drive inclusive growth, innovation, and sustainable development.

“With this portfolio guarantee of up to 75 billion naira, we are unlocking unprecedented opportunities for these enterprises that represent a resilient, inclusive and sustainable economic future for our nation.

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“The MSMEs we serve are the visionaries building the foundation of our economy, the innovators solving the most pressing challenges and the dreamers creating jobs that fuel our communities.

“Yet, they are posed with limited access to finance as a significant barrier to their growth and sustainability.

“Today’s agreement is a bold step to dismantle this barrier,” he said.

The BoI MD said through the AGF’s support, the bank would deepen its commitment to these enterprises, providing them with the resources to scale their operations, innovate for impact and expand into new markets.

He said that by prioritising womenowned businesses and environmentally sustainable enterprises, women must not just participate in Nigeria’s economic story, but must lead it.

He said that the partnership also aligned seamlessly with the BoI’s mission to drive industrial transformation and THEWILLNIGERIA

its vision to lead Nigeria into a future defined by opportunity, equity and resilience.

Olusi revealed that over the past

decade,the bank had disbursed over N1.6 trillion in loans, supported millions of MSMEs, and created over nine million jobs.

He said the agreement with AGF amplified the bank’s capacity to go even further.

“I must commend the AGF for its unwavering commitment to supporting development across the continent.

“Your work in de- risking investments and enhancing financial inclusion has been instrumental in enabling transformative change, and we are honored to collaborate with you on this mission.

“Let us commit to ensuring that the impact of this partnership resonates beyond these walls, reaching every corner of Nigeria and setting a precedent for the continent,” he said The BoI has intensified support for the small and medium enterprises since the downturn in the economy in 2023 following the removal of oil subsidy and floating of the naira.

PAGE 15

SUNDAY, DECEMBER 08, 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

FINANCE

Addressing Alarming Surge in Nigeria’s Financial Fraud

BY ELVIS EREMOSELE

T

he financial sector is the backbone of any economy, driving transactions, investment, and growth. In Nigeria, the financial sector is under siege. The recent report from the Financial Institutions Training Centre (FITC) confirms this. The report reveals a shocking escalation in fraudulent activities, leaving banks and customers vulnerable in the first nine months of 2024.

This rising tide of financial fraud raises critical questions: Why is fraud surging, and what can be done to stem the tide?

The FITC Fraud and Forgery Report for Q3 2024 paints a grim picture. Fraud cases reported by Nigerian banks jumped by an alarming 65 per cent from 11,532 in Q2 to 19,007 in Q3. The monetary figures are equally disturbing. In Q3, fraudsters attempted to steal an eye-watering N115.9 billion—more than double the N56.6 billion recorded in the previous quarter.

While the actual losses in Q3 were curbed at N10.1 billion—a significant drop from N42.8 billion in Q2—this still marks a troubling year. In the first nine months of 2024, Nigerian banks lost an estimated N53.4 billion to fraud, a steep increase from the N9.4 billion lost in the entire 2023.

The report attributes this surge to the increasing digitisation of financial transactions, which, while enhancing convenience, has also provided fraudsters with a wider playing field. It is now clear that as banks race to adopt advanced technologies, they must contend with an evolving landscape of cyber threats.

We’ll need to look closer to understand the numbers.

For instance, despite the surge in fraudulent attempts, the losses incurred have decreased significantly in Q3, indicating improved detection and prevention mechanisms by banks.

In addition, the N53.4 billion lost so far in 2024 dwarfs the N9.4 billion lost in 2023, underscoring an urgent need for

strengthened fraud prevention strategies.

Besides, the report indicates that fraud is escalating across all platforms, with digital transactions emerging as a significant area of concern. This is not surprising, for as more Nigerians adopt online banking, the potential for cybercrime has grown exponentially.

This trend is driven by several factors.

Many banks lack advanced cybersecurity measures capable of countering sophisticated fraud schemes.

Internal collusion remains a significant issue, with some bank employees aiding fraudsters. Moreover, a lack of public awareness about basic cybersecurity practices makes customers vulnerable to scams like phishing. Regulatory gaps further compound the problem, as the speed at which fraud tactics evolve often outpaces existing measures.

Notwithstanding the challenges, there is a glimmer of hope. The reduction in losses in Q3 suggests that banks are improving their detection and prevention mechanisms. However, this progress needs to be scaled up and sustained.

Addressing the fraud epidemic will require concerted efforts from all stakeholders, including financial institutions, regulators, and customers.

First, banks must strengthen their cybersecurity infrastructure.

Advanced fraud detection systems powered by artificial intelligence and machine learning can help identify unusual transaction patterns and flag them before significant losses occur.

Second, employee training and accountability must be prioritized. Bank staff should be regularly trained on fraud prevention techniques, while stricter penalties and internal monitoring systems can help deter insider threats.

Simple actions, such as not sharing sensitive banking details or ignoring unsolicited messages, can make a significant difference

PAGE 16

Third, public awareness campaigns are essential. Customers need to be educated about protecting their financial information and recognising potential scams. Simple actions, such as not sharing sensitive banking details or ignoring unsolicited messages, can make a significant difference.

Furthermore, collaboration is another key element. Banks and regulatory bodies should share data on emerging fraud trends, creating a unified database to help institutions stay ahead of criminal tactics.

Regulatory frameworks also need to evolve, ensuring stricter penalties for fraud and keeping pace with technological advancements.

The FITC report serves as a wake-up call for stakeholders in Nigeria’s financial sector. While commendable progress has been made in reducing actual losses, the overall increase in fraud attempts underscores the need for a more proactive approach. This is not just a banking issue—it is a national economic threat.

It is clear that Nigeria can turn the tide against financial fraud by prioritising cybersecurity, fostering collaboration, and empowering citizens with knowledge. For banks, customers, and regulators alike, the message is clear: the time to act is now.

•Eromosele is a corporate communication professional THEWILLNIGERIA

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SUNDAY, DECEMBER 08, 2024 WWW.THEWILLNEWS.COM

Adeboye’s In-law Bayo Adeyokunnu Joins Race for Successor of Late Owa Obokun

Thewillsociety

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ENTERTAINMENT &SOCIETY WEEKLY EDITOR Ivory Ukonu

A

Deputy Continental Overseer of the Redeemed Christian Church of God, RCCG in the United States, Pastor Bayo Adeyokunnu has joined the tightly contested race for the successor of Oba Adekunle Aromolaran, the late Owa Obokun of Ijeshaland, Osun State. Adeyokunnu is the younger brother of Pastor Mrs Folu Adeboye, the wife of Pastor Enoch Adejare Adeboye, the General Overseer of RCCG. The Owa of Obokun stool has remained vacant following the demise of the king in September. If Adeyokunnnu succeeds in his quest, he will become the fourth pastor from RCCG to become king and the second pastor in the RCCG fold based in the US to become king in Nigeria. Just about a year ago, Oba Ghandi Afolábí Oláoyè was installed Continues on page 20

INDIMIS AT WAR OVER REDUCTION OF STAKES IN THE FAMILY BUSINESS

T

he hugely wealthy Indimi family are pitted against each other over unjust stake reductions in the family-owned business, Oriental Energy Resources, a private oil exploration and production firm founded by their billionaire father, Mohammed Indimi in 1990. The company which is the cornerstone of Indimi’s wealth operates three major offshore assets; the Ebok Field, Okwok Field, and OML 115 in the Niger Delta region. Its flagship Ebok Terminal serves as a strategic offshore production hub for crude oil storage and offloading. His daughters, Ameena and Zara, have now taken legal action against him and his oil company, alleging

PAGE 18

18

‘JAPA’ SYNDROME & NIGERIAN CELEBRITIES

Continues on page 20

Japa syndrome and Nigerian celebrities

SUNDAY, DECEMBER 08, 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

ENTERTAINMENT &SOCIETY WEEKLY

Celebrities Hit by ‘Japa’ Syndrome in 2024 The lure of unlimited opportunities, the desire for career advancement and to start a new life elsewhere, as well as the need to simply get away from an ailing economy may have compelled several Nigerian celebrities to relocate overseas. IVORY UKONU spotlights some of these celebrities who have chosen to live and work abroad, while navigating new chapters with resilience and determination in 2024.

Natacha Akide atacha Akide who N is fondly referred to by her fans as

Tacha is one of many Nigerians who decided to check out of the country. Tacha, who found fame via the Big Brother Naija reality TV show, chose to relocate to the United Kingdom. While some believe she relocated for want of a better living condition, THEWILL reliably gathered that one of the major reasons she left the country is to be with her latest love interest. The young man, a crypto trader, a gamer and a gambler, among other things, is based in the UK and the need to be closer to him informed her decision to relocate to the UK.

Ololade Ahmed lthough he A is an awardwinning singer,

Ololade Ahmed, aka Asake, has been shuttling betwen the United States and Nigeria.

The singer finally made the US his permanent abode.

He solidified his stay with the recent acquisition of his first car in the US, a brand-new 2025 MercedesBenz G-Wagon.

The luxury ride also solidifies his position as one of Nigeria’s most successful artists, what with his rapid rise to fame and success in the music industry with hit songs and soldout performances.

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Sidney Esiri former Mo’Hits A signee, Sidney Esiri, more

popularly known as Dr Sid, confirmed his relocation to the United States a few months ago.

The divorced father of two revealed that he relocated to the US because he secured a job opportunity with a New York-based company and an offer to live anywhere he wants in the US. Prior to his departure from Nigeria, Dr Sid had quit music, which brought him fame, for the film business after his last music project did not meet his expectations. He even nurtured his passion for gaming and started a company in Nigeria to contribute to the country’s gaming ecosystem after realising that the gaming industry makes more money than music and film combined.

Unfortunately, he abandoned all of it and moved to the US when he couldn’t make a headway in the film and gaming industry.

Dapo Oyebanjo F

ormer Mohit co-founder, Dapo Oyebanjo aka D’Banj has relocated his family to Dubai.

Although he personally shuttles between Nigeria and Dubai, it is obvious that the 40-year-old who recently launched a comeback

album chose to relocate to Dubai after he was appointed as the Official Afrobeat Artist of the AfroZons Dubai Soundoff in 2022 by Dubai’s Department for Economy and Tourism.

PAGE 19

SUNDAY, DECEMBER 08, 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

ENTERTAINMENT &SOCIETY WEEKLY STORIES BY IVORY UKONU

Bankole Wellington S

inger, actor and politician, Bankole Wellington, aka Banky W, took many by surprise when a few months ago he announced that he and his family which comprises his wife Adesua and their son, had relocated to the United States.

Banky W said he left Nigeria to achieve the purpose of his life, for his family, his faith as well as to earn a Master’s Degree in Policy Management at Georgetown University in Washington DC. The awardwinning singer’s relocation is coming a year after he attempted to win a seat to represent Eti-Osa Federal Constituency in the House of Representative on the platform of Peoples Democratic Party, PDP. It was his second attempt and both times, he was unsuccessful at the polls, losing out to Labour Party’s candidate, Thaddeus Attah during his second attempt.

Y

omi Fabiyi, the controversial actor who plies his trade in the Yoruba sector of the movie industry, relocated to the United Kingdom under the guise of seeking asylum.

He claimed that he was being hunted by those who he alleged killed budding singer, Ilerioluwa Aloba, aka MohBad, simply because he was in pursuit of the truth and needed to expose his killers.

While the #justiceformohbad movement was active, Yomi didn’t bother about it. He only decided to insert himself in it when he realised that he could easily gain asylum from being a part of the movement. He decided to seek justice on his own single handedly,

searched for clues and late MohBad’s neighbours to interview.

He documented all of these as evidence. Then he began to plan a march to demand for justice from politicians. After a lot of publicity on the march, it ended up not taking place only for him to make a post crying out that he has fled from Nigeria because his life was in danger and some unnamed people threatened his life. He added that he left his only son with his estranged wife, adding that he filed a complaint with the police categorically insisting that nothing must happen to the witnesses he interviewed.

Adekunle Kosoko dekunle Kosoko, otherwise known as Adekunle Gold and his wife, Simi are among celebrities who have left the shores of Nigeria. Initially, they both shuttled between Nigeria and the United States, but sometime in the year, they decided to

PAGE 20

bird, Temilade Openiyi, also known as SStatesinging Tems, has been operating out of the United for a while and she hasn’t been anywhere near Nigeria. Since featuring on Wizkid’s global

Yomi Fabiyi

A

Temilade Openiyi

make the US their permanent home. A few months ago, Adekunle Gold shared on his Instagram page a photograph of their new house in the US undergoing repairs. The reason for their relocation is however unknown,

record, ‘Essence,’ Tems has become a force in the American music industry, working with top-tier stars like Future. This perhaps explains her reason for relocating abroad.

Kazeem Abimbola Ibrahim N

ollywood actor, comedian and content creator, Kazeem Abimbola Ibrahim, better known as Jigan Baba Oja, who used to ply his trade in the Yoruba genre of the movie industry has relocated to the United States. The actor bid farewell to Nigeria in September and currently keeps body and soul together there as an Uber driver.

Stella Damasus lthough actress Stella Damasus A relocated to the United States with her then third husband, film maker, Daniel Ademinokan who has since moved on and remarried, she is currently in the country and has been for over six months now, sparking speculations of reverse ‘japa’. She has been in the country with her two grown up daughters, Izzy Bella and Angelica, to allegedly access the funds placed in a trust for her two daughters with late first husband, Jaiye Aboderin, son of the founder of Punch Newspaper, James Aboderin.

After Jaiye died, a trust fund allegedly named ‘Estate of Jaiye Aboderin’ was allegedly opened by the Aboderins. The money which currently pulls in millions monthly in profits, allegedly is in billions.

The Aboderins are no longer signatories to it. Stella is now in charge of the fund. Stella and Jaiye got married in 1999 before Jaiye died suddenly in 2004 of heart attack.

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SUNDAY, DECEMBER 08, 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

ENTERTAINMENT &SOCIETY WEEKLY STORIES BY IVORY UKONU

Chris Okunowo Becomes Rallying Point Children of Late RCCG’s Pastor Bayo Adeyokunnu Joins Sani for Christians in Ijebuland with New Title Mohammed Omolori Remain Race for Successor of Late Owa Obokun Continued from page 18

at Loggerheads Over His Vast Property

Omolori

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Okunowo

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hief Chris Olufunmilola Okunowo and his wife, Erelu Morenikeji Okunowo have been installed as the new Asiwaju Onigbagbo Akile Ijebu and Yeye Asiwaju Onigbagbo Akile Ijebu respectively. The title was previously held by the late Otunba Olusubomi Balogun. The installation took place on Saturday, December 7 in the presence of very revered guests. The role and significance of the title isn’t lost on him. The new title makes him a rallying point for Christians in Ijebuland. It is also the first time in the history of Ijebuland that the appellation Asiwaju Onigbagbo Akile Ijebu will be used. Before it was only meant for people in Ijebu Ode alone. The selection and confirmation of the prestigious titles on Okunowo and his wife are as a result of their proven track records in diverse areas of service to the Christian Community in Ijebuland and beyond. The couple possess the qualities and traits required to hold these esteemed positions in the Christian Community of Ijebuland. Moreover, their interpersonal relationship beyond border, leadership prowess and dedication have consistently played significant roles at improving the life of humanity and enhancing the cultural heritage, which has earned them respect and admiration among their peers leading to Okunowo being

honored with the title of Bobasuwa II of Ijebuland, the first hereditary chieftaincy title in Ijebuland by Alaiyeluwa, Oba (Dr) Sikiru Adetona Ogbagba II, the Awujale and paramount ruler of Ijebuland. Ironically, the installation of the new title, Asiwaju Onigbagbo Akile Ijebu, coincided with his 77th birthday and his 50th wedding anniversary. Okunowo, a seasoned businessman with major business interests in aviation, banking, property development, is the Principal Partner of Chris O. Okunowo & Co, a fullservice law firm. He is a distinguished Fellow of the Chartered Institute of Directors of Nigeria and was the 16th President of the Institute, He is also a Fellow and Council Member of the Business Recovery and Insolvency Practitioners of Nigeria (BRIPAN).

He also holds the chieftaincy titles of Bamolu of Egbaland, and Aku’ajo of Awo-Ekiti, Ekiti State. He is the chairman of the Ijebu Congress, a worldwide body of all the sons and daughters of Ijebu at home and in the diaspora. He is also the chairman of the Ijebu Renaissance Group, which is a very unique organisation that looks specifically at developing Ijebuland. He is also a member of the trustee of Ijebu Development Association for the actualisation of the development in Ijebu land as well as the patron of the foremost age group in Ijebuland.

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Indimis at War Over Reduction of Stakes in the Family Business they were unjustly denied their rightful share of a $435.1 million dividend declared by Oriental Energy Resources. The siblings claim they are entitled to the amount, representing their combined 10 percent stake in the company and accuse their father of misleading them into signing away shares worth hundreds of millions of dollars, thus reducing their shareholdings. Their legal team contends that their individual five percent stakes in the company were reduced to just 0.6 percent each, stripping them of significant equity and resulting dividends. The sisters further accuse their father of using intimidation tactics, coercion, to suppress their claims. The sisters want their father to account for the missing funds.

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They argue that the dividends, which were declared and yet remain unpaid to them, represent a breach of trust and transparency. The feud has expectedly taken a toll not only on the family’s public image but also on the family relationships. Ironically, Indimi’s net worth, which peaked at $670 million in 2014 drastically declined to $500 million in 2015.

He however remains a top business figure with significant holdings across sectors, including being the largest shareholder of Jaiz Bank. The Indimi family feud marks a rise and unprecedented public conflict in some of Nigeria’s most affluent families and raises questions about the dynamics of wealth and power in prominent households.

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he dispute among the children of late Ohinoyi of Ebira land, Alhaji Mohammad Sani Omolori who died on July 10, 1996 has taken a new turn as 26 of his children, led by 81-year-old Hajia Salamatu Sani, have called for the intervention of Governor Usman Ododo of Kogi State in the property dispute that has lingered for many years. In the letter, signed by the surviving children, they demanded justice in sharing their father’s estate. They told Ododo that one of their siblings, the former clerk of the National Assembly, Ataba Sani Omolori, failed to allow a fair sharing formula for their father’s inheritance. They said despite their best efforts to resolve this issue amicably, they have unfortunately reached an impasse. Before the 8th day Fidau prayer of the late Ohinoyi, his briefcase was stolen, and in the briefcase were documents of his properties as well as some precious stones: gold, diamonds, and others. The children claim that their brother, Ataba Sani was responsible for the theft of the briefcase and despite agreeing to return the briefcase with the documents intact, he failed to uphold his promise. After one year of struggle to bring him to the table but to no avail, a resolution was reached to involve a lawyer. Later, the family then decided to seek justice at a Sharia Court in 2022.

The judge, Ado Muktar, struck out the case and transferred it to the Grand khadi. The Grand Khadi called a meeting which Ataba Sani honoured. A committee of 12 family members was set up and Sani Ataba agreed to honour the committee’s decision before the Grand Khadi. However, he declined two invitations by the committee and didn’t honour the committee’s resolution. The Grand Khadi then sent the case back to court but at this juncture, the family already lost hope in the Sharia Court. This prompted them to seek the intervention of Ododo.

Their late father had at least seven lands in Abuja: Maitama, Asokoro, Katampe, Mabushi, and others. The theft of these lands and their father’s contract agreements, amongst other issues, created an impasse, making it nearly impossible to properly share his properties. Meanwhile Ataba Sani on his part has petitioned the Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun, equally seeking her intervention and accusing his siblings of insincerity.

the Soun of Ogbomoso in Oyo State. Ghandi was the pastor of RCCG Jesus House in Washington before his installation as the Soun of Ogbomoso in 2023.

Others include Pastor Gabriel Ayodele Adejuwon who became a king in Isan-Ekiti in 2017 and Pastor Kehinde Gbadewole Olugbenle who became the new Olu of Ilaro and supreme ruler of Ogun state’s Yewa-Awori area in 2012.

Adeyokunnu’s interest in the throne has been made known to some key figures in the RCCG and Adeboye deemed it necessary to reveal this fact when he attended the 70th birthday celebration of Adeyokunnu in the US recently.

During his speech at the birthday celebration, Adeboye hinted that Adeyokunnu may be the next king of Ijeshaland. He told the participants at the event that he was compelled to pray in Yoruba language for Adeyokunnu as it is forbidden to speak English in the presence of a ‘king’ in the land he comes from, Ijeshaland. Sources reveal that Adeyokunnu’s decision

to go for the throne was borne out of his desire to be a blessing to Ijeshaland in addition to the fact that he would be retiring from the RCCG soon having clocked 70 years. He is of the Bilaro ruling house in Ijeshaland.

His great, great grandfather was Kabiyesi Ofokutu I and so he qualifies for taking a shot at the throne. He has ministered in different capacities within the body of Christ for more than three decades beginning from the Student Christian Movement at the University of Ife, now Obafemi Awolowo University and rose to become a Regional Pastor of the RCCG in North America. He has pastored different congregations of RCCG and established more than 40 parishes of the church in India. Prior to a full-time calling, he was a successful businessman trading with and consulting for governmental and private companies while also running a travel agency in Nigeria. His wife, Pastor Mrs Margaret Adeyokunnu is the Provincial Pastor of RCCGNA MD Province 1.

Reconciliation on the Horizon for Lucky Aiyedatiwa and the Akeredolus

Akeredolu, Ogunbayode and Aiyedatiwa of ongoing fence-mending. t looks like the family of the IRotimi late governor of Ondo State, Recall that the governor was at odds with hardcore loyalists Akeredolu and the incumbent, Lucky Aiyedatiwa are on the verge of towing the path of reconciliation judging by the recent camaraderie between both parties.

Aiyedatiwa and Professor Oluwole Akeredolu who has now assumed the head of the Akeredolu clan, following the passing of his older brother in December 2023, were recently pictured together having a warm handshake at the latest edition of the monthly ‘Praise Night with Mr Governor’. This is the first of such encounters in the months leading up to late governor’s absence while he was being treated for cancer in Europe, all through the tussle period leading to the emergence of Aiyedatiwa as governor. The development is a rare occurrence, especially against the backdrop of recent happenings in Ondo State politics, sparking narratives

of his predecessor since his time as deputy governor, including the former first lady of the state, Betty AnyanwuAkeredolu. All through his ascension to the position of acting governor while Akeredolu was undergoing treatment up until his victory in the November 16 gubernatorial election, he remained at loggerheads with the late governor’s political structure and family members, especially those sympathetic to Akeredolu’s widow. The face-off was so intense that Aiyedatiwa’s attempts to secure validation using Akeredolu’s name and goodwill were severely rebuffed. But all that is now in the past, Aiyedatiwa is now in charge and things, including the Akeredolu family are all now falling in line with him.

Hopefully this is sustained.

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SUNDAY, DECEMBER 08, 2024 T H E W I L L N E W S P A P E R • www.thewillnews.com

SHOTS OF THE WEEK Photo Editor: Peace Udugba [08033050729]

L-R:MD/Chief Strategist, Chains Reactions Nigeria, Mr. Israel Jaiye Opeyemi; Managing Director/CEO, Guinness Nigeria Plc, Mr. Girish Sharma; Governor of Lagos State, Mr. Babajide Sanwo-Olu; his Special Adviser on Tourism, Arts & Culture, Mr. Idris Aregbe and others, during the unveiling of the Lagos Shopping Festival Symbol at the Lagos House, Alausa, Ikeja, on December 3, 2024.

Minister of State for Health and Social Welfare, Dr. Iziaq Adekunle Salako (middle); Director General, National Agency for the Control of AIDS (NACA) (2nd right); PEPFAR Nigeria Country Coordinator, Ms Funmi Adesanya (2nd left) and others, during the launching of the strategic document as part of the activities to mark the 2024 World AIDS Day in Abuja on December 3, 2024.

L-R: The Proprietor, Ultimate College, Ota, Ogun State, Kunle Omobomi Elijah; DPO, Sango Ota Divisional Police Station, CSP Saleh Dahiru and CEO, Mazino Hotel and Kitchen, Ota, Ogun State, Hon. Kelvin Mazino, at the 2nd Olota of Ota All Secondary Schools Male/Female Football Competition in Ota, Ogun State on December 4, 2024.

Vice Chancellor, Kari Kumm University, Jos, Prof. Nanven Gambo (left), with the Commissioner for Housing and Urban Development in Plateau, Ubandoma Laven, during a Conference on Conflict Resolution Strategies and Sustainable Peace Building in Jos on December 4, 2024.

Acting Director, Special Duties, Mr Nura Umar; NYSC DG, Brig.-Gen. Yushau Ahmed, Corps member, Lawrence Grace Omowumi; NYSC Kwara State Coordinator, Mr Onifade Joshua and Acting Director, Governor Ahmed Usman Ododo during the Flag-Off of Private Veterinary Practice programme in Lokoja, Kogi Information/PR, Caroline Embu, during General Ahmed’s visit to Ilorin to address 2024 Batch ‘C’ Stream State on Dec 3, 2024 One Corps members on Decmber 2, 2024.

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SUNDAY, DECEMBER 08, 2024 WWW.THEWILLNEWS.COM

Africa’s Heavyweight Dream: Nigeria’s Ajagba Vs Congo’s Bakole

BY JUDE OBAFEMI

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he world of heavyweight boxing is poised for an electrifying showdown as Nigeria’s Efe Ajagba squares off against Congo’s Martin Bakole in a crucial IBF final eliminator, after the belt was retrieved from the heavyweight champion, Oleksandr Usyk. Scheduled to take place when the eliminator process is complete, this bout represents a significant turning point not only for the fighters involved but also for the future of the heavyweight division.

Ajagba, often referred to as Nigeria’s heavyweight hope, has steadily risen through the ranks with a combination of power, precision, and an unwavering determination to etch his name among the sport’s greats. Currently ranked seventh by the IBF, Ajagba’s journey has been nothing short of remarkable. With a professional record boasting 20 wins, including 14 knockouts, the 6’6” powerhouse has consistently demonstrated his ability to deliver when it matters most.

The upcoming eliminator offers Ajagba a chance to stake a mandatory challenge against the IBF heavyweight champion, Daniel Dubois, who claimed the title after a sensational knockout victory over another Nigerian Anthony Joshua. For Ajagba, this is not just a fight but a pathway to solidify his position as a legitimate contender on the global stage and, potentially, the first Nigerian to claim a modern heavyweight title.

Standing in Ajagba’s way is Martin Bakole, the Congolese powerhouse ranked second by the IBF. Bakole’s reputation precedes him, with a professional record of 21 wins (15 by knockout) and

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While Ajagba and Bakole battle for their shot at glory, the heavyweight division remains one of the most dynamic and exciting in boxing. At the forefront of this landscape stands Oleksandr Usyk, a Ukrainian boxing phenomenon who has redefined the heavyweight category with his unique skill set.

Usyk, primarily known for his exceptional technical ability and Olympic gold medal-winning background, has become a pivotal figure in the heavyweight division. Unlike traditional heavyweight fighters who rely purely on power, Usyk brings extraordinary footwork, precision, and a tactical approach that has confounded many of his opponents. His victories over Anthony Joshua, where he claimed the WBA (Super), IBF, WBO, and IBO heavyweight titles, and over Tyson Fury to defend his belts, demonstrated his exceptional capabilities.

What makes Usyk particularly intriguing is his ability to move between weight classes with remarkable success. Previously dominating the cruiserweight division, he has seamlessly transitioned to heavyweight, proving that technical skill can triumph over raw power. His fights are strategic masterclasses, showcasing movement and boxing intelligence that set him apart from his contemporaries.

Returning to the Ajagba-Bakole narrative, Bakole’s journey to this eliminator has not been without challenges. Originally, Agit Kabayel was slated to compete in this final eliminator but withdrew, paving the way for Bakole and Ajagba. With both fighters eager to seize this golden opportunity, the stage is set for an explosive encounter that could reshape the heavyweight landscape.

The clash between Ajagba and Bakole promises a fascinating contrast in styles. Ajagba is known for his devastating right hand and patient approach, often waiting for the perfect moment to unleash a knockout blow. His towering frame and reach advantage enable him to keep opponents at bay while setting up his powerful punches.

Efe Ajagba

Standing in Ajagba’s way is Martin Bakole, the Congolese powerhouse ranked second by the IBF

only one loss. His recent performances have been a testament to his resilience and tactical acumen, most notably his dominant win over Tony Yoka in Paris and particularly his fifth-round demolition of previously unbeaten American prospect Jared Anderson in California last August. Bakole’s ability to adapt in the ring, coupled with his powerful punches, makes him a formidable opponent for Ajagba.

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In contrast, Bakole brings relentless aggression and a high work rate to the ring. His ability to close the distance and engage in closerange exchanges could pose a significant challenge for Ajagba.

The outcome may hinge on whether Ajagba can maintain his composure and dictate the pace or if Bakole’s pressure will force him into uncomfortable territory.

For Ajagba, this fight is more than just an eliminator; it is a moment to inspire a nation. Nigeria has a rich history in boxing, with legends like Dick Tiger, Samuel Peter and, by extension, Anthony Joshua, achieving greatness. However, the country has yet to produce a modern heavyweight champion without an appendage like the “British-Nigerian” Joshua. Ajagba’s rise represents a new chapter in Nigerian boxing, with the potential to galvanise a new generation of domestic fighters and fans.

Bakole, on the other hand, carries the hopes of Congo. His success would further elevate the profile of Congolese boxing, which has seen a resurgence in recent years. A win for Bakole would not only bring him closer to a world title but also establish him as a dominant force in the division.

The winner of this bout will earn a mandatory shot at Daniel Dubois’ IBF heavyweight title. Dubois, who has rebounded strongly from earlier setbacks in his career, is currently regarded as one of the most dangerous punchers in the division. A potential clash with Dubois would not only be a career-defining moment for Ajagba or Bakole but also a must-watch spectacle for boxing fans worldwide.

The heavyweight division is currently in a period of transition, with established names like Tyson Fury and Usyk facing challenges from rising stars. The outcome of Ajagba vs Bakole will have farreaching implications, potentially setting the stage for a new wave of heavyweight rivalries.

For fans, this bout is a reminder of why boxing remains one of the most captivating sports. The drama, the stakes, and the sheer unpredictability of the heavyweight division ensure that every fight has the potential to rewrite history.

With Ajagba ready to step into the ring against Martin Bakole, the world will be watching for the outcome. For Ajagba, this is a chance to fulfil his dreams and inspire millions. For Bakole, it is an opportunity to cement his legacy and bring glory to Congo. One thing is certain: when the bell rings, the heavyweight division will witness a battle for the ages.

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ogannah@thewillnews.com

Why Nigeria is Not Ripe For One-Party State O

ur political landscape has been experiencing a deeply worrying trend that poses a profound threat to its democratic foundations.

Recent defections by lawmakers and political figures from opposition parties to the ruling All Progressives Congress (APC) have sparked widespread concern about the country’s gradual, potentially irreversible slide towards a dangerous one-party state.

This phenomenon is not merely about political realignment; it represents a systemic failure of Nigeria’s democratic institutions and governance structures, reflecting deep-rooted challenges that demand urgent, comprehensive attention.

National Electoral Commission (INEC) that fail to inspire even minimal public confidence.

The justice system, theoretically designed to serve as a critical check on political power, has been systematically compromised. Judicial pronouncements increasingly appear to favour those with the most substantial financial resources, further eroding the fundamental principles of democratic governance. These systemic failures illuminate the fragility of our democratic experiment and its progressive deviation from authentic

Defections have become an increasingly prevalent feature of our complex political ecosystem, often rationalised through justifications, such as internal party crises, strategic alignment with the Federal Government or purported personal convictions. In recent months, notable political figures from the Labour Party (LP), Peoples Democratic Party (PDP) and the New Nigeria Peoples Party (NNPP) have strategically crossed over to the All Progressives Congress (APC), presenting rationales that range from genuine disillusionment with their former political organisations to nakedly opportunistic personal ambitions and of course, stomach infrastructure.

However, Nigeria’s trajectory towards a one-party state diverges fundamentally from such structured models. The motivations of political defectors appear predominantly self-serving, driven by immediate access to resources and political protection rather than a genuine commitment to substantive public service. Unlike the purposeful, strategically oriented approach of the CCP, our political actors predominantly lack the requisite professional training or institutional orientation for effective, transformative governance.

The consequences of this mercenary political attitude are starkly evident in our country’s mounting socio-economic challenges. Pervasive corruption, systemic mismanagement, and a chronic lack of meaningful accountability have left the national economy in a precarious state, characterised by escalating unemployment, runaway inflation, and deepening poverty.

Electoral processes, which should serve as the democratic mechanism for expressing collective national will, are routinely compromised, with results declared by an increasingly discredited electoral body, the Independent

Averting this slide into democratic regression necessitates urgent, comprehensive institutional reforms. Political parties must develop substantive, distinguishable ideological frameworks that resonate authentically with the electorate, providing genuine political alternatives and fostering meaningful competitive discourse. Ideological coherence can serve as a critical deterrent to opportunistic defections and behaviours by binding political actors to shared principled values.

To develop meaningful political alternatives, Nigerian parties must cultivate robust ideological frameworks that transcend mere political opportunism.

Political organisations require distinct philosophical approaches to governance that offer clear national visions. These ideological foundations could range from social democratic models emphasising welfare and income redistribution to liberal conservative approaches prioritising marketdriven economic development.

While political realignments are not inherently undemocratic, the frequency and scale of these defections—particularly by opposition members— fundamentally undermine the core principles of multiparty democracy.

The systematic erosion of political pluralism represents a critical threat to Nigeria’s democratic integrity, transforming what should be a vibrant, competitive political landscape into a homogeneous, predictable political environment.

The potential implications of a one-party state are profound and multifaceted. Theoretical models of single-party governance, such as those observed in China with the Chinese Communist Party (CCP), suggest potential advantages. The CCP operates with a singular, cohesive vision, ensuring remarkable stability and remarkable continuity in policy implementation. Leadership within the party is meticulously cultivated through rigorous training programmes in public service, policy development and sophisticated governance strategies. Additionally, the CCP enforces strict accountability measures, including severe penalties for corruption, to maintain integrity within its ranks.

The potential progression towards a consolidated one-party state harbours significant dangers: the potential entrenchment of authoritarian governance models, the systematic suppression of political dissent, and the perpetuation of endemic systemic corruption. Such a trajectory threatens to undermine decades of democratic aspiration and potential national progress.

A nationalist development perspective might focus on indigenous economic empowerment, protecting local industries and reducing foreign economic dependency. Alternatively, an environmental governance approach could centre on sustainable development, promoting renewable energy and ecological consciousness. Social liberal frameworks would balance market economics with comprehensive social welfare, championing individual rights, inclusivity, and human capital development.

By adopting such principled approaches, Nigerian political parties could transform from opportunistic entities into genuine vehicles of national development. Clear ideological principles would differentiate political organisations, providing voters with meaningful choices that reflect coherent visions for national progress.

democratic principles.

The concentration of political power within the APC exacerbates these fundamental challenges, progressively eroding the essential checks and balances required for a functional multi-party democratic system. The legislature, which should function as a robust counterbalance to executive authority, has been comprehensively co-opted through strategic defections, dramatically diminishing its institutional independence and operational effectiveness. This profound shift not only weakens opposition parties but also systematically stifles political diversity and meaningful dissent—both of which are fundamental to a genuinely vibrant democracy.

The country’s current political configuration can be more accurately described as a civilian rule rather than a genuine democratic system.

The essential hallmarks of democratic practice—including free and fair electoral processes, a genuinely independent and impartial judiciary, and meaningfully accountable governance—are conspicuously absent from our current political landscape.

Still, electoral infrastructure requires fundamental reform to ensure processes that genuinely reflect collective national will. The electoral commission must be comprehensively restructured to guarantee transparency, independence, and credibility. The justice system demands radical transformation to restore its fundamental role as a guardian of democratic principles rather than a malleable instrument of political manipulation.

Our country’s democratic journey stands precariously at a critical crossroads.

The superficial convenience of a one-party state, while potentially attractive to current powerholders, poses existential threats to the nation’s democratic aspirations. We the people should speak up against this and vehemently oppose it. Preserving and revitalising democratic practice requires a multidimensional commitment: developing robust institutional frameworks, nurturing political diversity, and cultivating a political culture that prioritises collective national advancement over narrow personal interests.

The path forward demands courage, vision, and an unwavering commitment to democratic principles. Only through such dedicated, transformative efforts can Nigeria transition from its current state civilian rule to a genuinely participatory, accountable democratic society.

Our country’s democratic journey stands precariously at a critical crossroads. The superficial convenience of a one-party state, while potentially attractive to current powerholders, poses existential threats to the nation’s democratic aspirations PAGE 24

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