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NGX Rates Fidelity Bank Highest On corporate Governance

Fidelity Bank Plc complies with the highest corporate governance standards as the leading commercial bank adheres promptly to all full disclosure requirements and global best practices.

Fidelity Bank is awarded CG+, the highest rank under the Corporate Governance Rating System (CGRS), which screens quoted companies against prescribed best practices and standards.

A review of the latest compliance report showed that Fidelity Bank sustains its highest-ranking rating of CG+, with shareholders and market pundits commending the high corporate standards of the bank.

Head, Listings Regulation Department, NGX Regulation (NGXRegco), Mr. Godstime Iwenekhai, explained that the CGRS was designed to strengthen the governance structures of listed companies and provide a valid basis for discerning investors to differentiate between listed companies on the basis of their compliance with acceptable standards of corporate governance.

“In our view, corporate governance promotes ethical business practices, transparency and fair competition,” Iwenekhai said.

He pointed out that the special character combination “CG+” underlined compliance with best practices and highest corporate governance standards, which entitle the rated companies to special privileges at the stock market.

Corporate governance compliance at the stock market includes prompt submission of detailed operational results from period to period as required by the market rules, full disclosures of all material and regulated information and accurate rendition of reports and accounts.

Also, compliance includes ensuring that the company’s shares are not encumbered in a way that impinges on free float or number of shares available to the general investing public for efficient price discovery, compliance with all investor-protection safeguards in communication with shareholders and organizing statutory meetings as required among others.

The Nigerian Exchange (NGX) noted that the compliance tracker was aimed at maintaining market integrity and protecting the investors, noting that listed companies are required to adhere to high disclosure standards.

“Financial information which is periodic disclosure and on-going material events disclosure should be released to NGX in a timely manner to enable it efficiently perform its function of maintaining an orderly market,” NGX stated, referencing some of the criteria for its corporate governance rating.

Market experts and shareholders agreed that corporate governance compliance is a major factor in deciding on investing in a public and the safety of such investment.

Managing Director, Arthur Steven Asset Management, Mr. Olatunde Amolegbe, said corporate governance compliance rating is “extremely important” as it indicates to the investing public the quality of compliance of a company to listing requirements.

“As you know, stock prices are driven primarily by available information and the NGX has a minimum level of disclosure expected of quoted companies. This disclosure helps the public make qualitative decisions as to the state or performance of the companies they are seeking to invest in. These markers are therefore the initial indicators as to whether the companies are meeting their disclosures and other regulatory obligations or not,” Amolegbe, a former president of Chartered Institute of Stockbrokers (CIS), said.

Managing Director, APT Securities & Funds, Mallam Garba Kurfi, said the corporate governance rating “shows the extent companies are in compliance with corporate governance”.

“High rating means very good in doing the right thing timely while low rating discourages foreign investors from investing in such companies,” Kurfi, a leading market operator and member of the board of Securities and Exchange Commission (SEC), said.

Managing Director, HighCap Securities, Mr David Adonri, noted that “CG+ means excellent corporate governance rating”.

“When a company is organised and upholds good corporate governance, the benefit to stakeholders is maximized,” Adonri said.

Investors said its high corporate governance was one of the compelling reasons they chose to invest in Fidelity Bank.

President, Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar said Fidelity Bank has a very good corporate governance structure that reassures investors of the safety of their investments.

According to him, while the bank has a good succession plan, the calibre of the independent non-executive directors on the board gives shareholders strong confidence of the kind of board oversight they will be expecting.

National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Mr. Moses Igbrude, said Fidelity Bank’s impressive performance over the years had been built on good corporate governance.

“My appeal to the board is to continue to imbibe good corporate governance in order to sustain this growth,” Igbrude said.

National Coordinator, Pragmatic Shareholders Association of Nigeria, Mrs. Bisi Bakare, said Fidelity Bank has created a “very excellent impression” in the minds of shareholders.

According to her, the bank has continually showcased exemplary leadership with continuous impressive results, with successive growths over the past five years.

“Fidelity Bank is a very good bank that shareholders are very happy with their investments and we have never regretted buying into Fidelity Bank,” Bakare said.

National Coordinator, Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie said good corporate governance was the cornerstone of Fidelity Bank’s sustained growth and impressive returns over the years.

“Fidelity Bank remains one of the best stocks that investors should look forward to investing in for better returns. I’m very optimistic about the bank’s healthy strong assets. With its good corporate governance and excellent customers’ service, there is every reason to hope for a more promising future,” Okezie said.

The NGX tags defaulting companies for poor corporate governance and also applies various monetary and non-monetary sanctions, including fines ranging between N100,000 to N100 million, partial or full suspension of trading, naming and shaming with a red alert tag and compulsory delisting in extreme cases.

August 22, 2024
Unity Bank Champions Digital Literacy and Innovation for Youth Empowerment

In line with its commitment to supporting youth empowerment and technological innovation, and creating opportunities for Nigerian youths to thrive in the digital economy, Unity Bank Plc recently held a high-impact webinar to explore the role of digital technology in sustainable development.

The event drew participants from across Nigeria featuring the Telecommunications, Media and Technology, (TMT) ecosystem including start-ups, players in fintech, content creators, etc.

The event featured two Nigerian technology industry leaders including Mr. Gbolahan Salami, Senior Vice President, Growth, Product, and Strategy at WakaNow, and Mr. Micheal Ogundare, who is the CEO and Co-founder of Crop2Cash. Both speakers shared insightful perspectives on leveraging digital technology to empower the next generation and foster inclusive growth.

Commenting on the International Youth Week webinar, Unity Bank’s Head of Strategy and Innovation, Mr. Ibukun Coker, said that through youth-friendly products, special business grants from the Bank’s youth-focused initiatives such as the Corpreneurship Challenge programme as well as other financing packages, the Bank will continue to accord priority to Micro, Small and Medium-sized businesses in technology.

He added: “Empowering the youth through digital technology is key to unlocking sustainable development in Nigeria. At Unity Bank, we are committed to driving initiatives that bridge the digital divide and equip young people with the skills needed to thrive in today’s fast-evolving economy. This webinar is part of our ongoing effort to support the growth of a digitally inclusive society, ensuring that our youth are well-positioned to harness technology for positive change and economic progress.”

The event provided an opportunity for participants to interact directly with the speakers, with many expressing renewed optimism about their potential to leverage digital technology for personal and societal advancement.

Recall that recently Unity Bank partnered with SkillPaddy in its “Count Her In” tech Programme focused on empowering no fewer than 1,000 female beneficiaries in Software Engineering Training. The IT skill development and empowerment initiative was intended to bridge talent supply gaps while providing individuals with the opportunity to meet their training goals and launch careers in the tech industry. About 40 young girls received full sponsorship from the Bank in the special training initiative, which was conceived as part of activities to commemorate this year’s International Women’s Day 2024.

August 21, 2024
FG to introduce new tax law, overhaul revenue administration process

Executive Chairman of the Federal Inland Revenue Service, FIRS Mr Zacch Adedeji, has revealed plans to introduce a law that would overhaul the process of revenue administration in Nigeria next month.

He also lamented the fact that Nigeria had no law guiding the digital market in Nigeria, especially the crypto currency.

Adedeji spoke at the 2024 stakeholders’ engagement with the Senate and House Committees on Finance, organized by the Intergovernmental Relations Department of the FIRS, with the theme “Repositioning The FIRS To Achieve Its Mandate”.

He explained that the government plans to regulate crypto currency in such a way that it would not be injurious to the economic development of the country, adding that there would be revenue harmonisation, recording and simplifying the tax law that had been in existence.

He said Nigeria was still using the Stamp Duty Act of 1939 when there was no internet connection, saying this explained the reason President Bola Tinubu set up the tax and fiscal reform committee to change and check the law.

Adedeji said: “We are on the path of making sure the target of N19.4 trillion target we were given is achieved. We commend the recent windfall levy passed to increase FIRS’ ability to meet target and get more revenue and redistribute the wealth.

“By September, we are bringing the law that would overhaul all the process of revenue administration in Nigeria, harmonising the revenue, recording and simplifying the tax law that we have. For instance, the Stamp Duty Act of 1939, when there was no internet or connection, is what is still in use.

“Today we cannot run away from crypto currency but as we stand currently, there is no law anywhere in Nigeria that regulates crypto currency and it is the new thing that is happening and we cannot run away from it.

“The law we are using today is 1939 law. As at that time, there was no state or local government. That is the reason the President set up the tax and fiscal reform committee to check and change all these law.’’

Also speaking, the Chairman, Senate Committee on Finance, Senator Mohammed Musa, said the FIRS and the legislators were synergising to come up with a legislation that would give Nigeria the best in getting revenue to address all the challenges facing the country, both in infrastructure and human capital development.

Musa said: “When you are talking of revenue, in every clime, you need the right legislation and there cannot be right legislation until there is a synergy between the agency collecting this revenue with the people making these laws.

‘’We, the Senate and the House of Representatives, work together with the FIRS to give this country the right legislation for tax collection.

“Those laws are so old that they have been before the independence of this country, they would be modified. I am sure by the time we resume from our recess, the executive would submit the executive bill for us to amend the Act, repeal them and re-enact the one that would go with the current system in the environment.

“Crypto currency has become the largest way to make money today, and in Nigeria, we do not have a law to guide them. The FIRS and the legislators are synergising to come up with a legislation that would give Nigeria the best in getting revenue to address all the changes that we have, both in infrastructure and human capital capital development.

“As soon as we resume, we would work on it and we expect the cooperation of Nigerians, corporate Nigerians and individuals. This is a country of over 250 million people and less than 15 per cent are paying tax.

“This engagement is both timely and crucial as we continue our collective efforts to strengthen Nigerians’ physical framework.

“The collaboration between the Senate and the House committees on finance underscores the importance of a unified approach in addressing the challenges and opportunities before us.

“The FIRS, as the bedrock of our revenue generation, has a mandate that is vital to the financial health and sustainability of our nation.

“Ensuring that the agency is not only effective but also agile in responding to the dynamic demands of our economy is a responsibility that we all share.

“As the global economy evolves and as our own economic landscape undergoes transformation, there is a pressing need to assess, to reassess, realign and reposition to meet these new realities.

“This means not only adopting best practices, but also fostering an environment where transparency, accountability and innovation are at the forefront of revenue generation efforts,” he said.

In his remark, the Chairman, House Committee on Finance, James Faleke, said everybody wanted improvement and development in the nation but noted that nobody wants to contribute to that purse.

“We are much more interested in sharing, nobody wants to contribute, forgetting that the developed world we always make reference to are developed, based on the resources that every citizen put into the box,” Faleke said.

August 19, 2024
FirstBank Commemorates its Annual Corporate Responsibility & Sustainability Week

FirstBank, the West African premier financial institution and financial inclusion services provider is proud to announce its 2024 Corporate Responsibility and Sustainability (CR&S) Week, scheduled for 19 to 24 August. This year’s edition aims to reinforce the bank’s positive outcomes of sowing seeds of kindness by empowering the lives of communities, and minimizing the environmental impact environment, while advancing the Bank’s contribution to the Sustainable Development Goals (SDGs).

The CR&S Week is a dedicated week that offers opportunities for employees of the FirstBank Group (FirstBank Nigeria, FirstBank UK, FirstBank Gambia, FirstBank Sierra-Leone, FirstBank DRC, FirstBank Guinea, FirstBank Ghana, FBNBank Senegal; First Pension and First Nominees) to give their time & resources to defined causes in line with the Bank’s CR&S strategic approach.

Now in its eighth year, the FirstBank Corporate Responsibility and Sustainability Week is a week reserved by the Bank for the demonstration of kindness being a fundamental philosophy of the Bank, as the Bank and its employees “Start Performing Acts of Random Kindness” (SPARK) the value-based initiative in alignment with the ethos of compassion, civility, and charity. During the 2023 CR&S Week, 8 countries participated with over 80 charities/NGOs and 30,000 lives impacted.

The 2024 CR&S is envisioned to be an eventful week of impact, sowing the seed of kindness through the following initiatives/activities:

Tree Planting- FirstBank will plant 30,000 trees across Nigeria, furthering its commitment to plant 50,000 trees by 2025 in partnership with the Nigeria Conservation Foundation (NCF).

Women Empowerment- The bank will support Jigawa and Plateau States by driving awareness, performing surgeries, and providing post-care kits for those living with Vesicovaginal Fistula (VVF).

Visitation for Charity- FirstBank will visit orphanage homes, IDP camps, and other charities across Nigeria, SSA markets, and the UK, demonstrating kindness and empowering those at the bottom of the pyramid.

Kind Comment- Staff and management will share kind comments throughout the week, promoting a culture of compassion and civility across the bank.

Woven into the fabric of the society since over 130 years and enabling success in our customers and communities, these initiatives epitomize FirstBank’s care for the environment and humanity, aligning with the Bank’s sustainability strategic pillars and support for the Green Recovery Nigeria

Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications FirstBank, said “At FirstBank, we remain committed to creating a positive impact in the lives of our customers and the communities we serve. Our 2024 CR&S Week is a testament to this dedication, and we are excited to amplify our efforts in enabling the Giants in the lives of our communities and enhance sustainable development and community growth.”

As we celebrate the FirstBank’s Corporate Responsibility & Sustainability week, we invite all to embrace the spirit of kindness as we come together this special occasion to weave kindness into the fabric of our daily lives, leaving a lasting impact on one another,” she concluded.

About FirstBank
First Bank of Nigeria Limited “FirstBank”, established in 1894, is the premier bank in West Africa, a leading financial inclusion services provider in Africa, and a digital banking giant.

FirstBank’s international footprints cut across three continents ─ Africa, Europe, and Asia, with FirstBank UK Limited in London and Paris; FirstBank in The Democratic Republic of Congo, Ghana, The Gambia, Guinea, and Sierra Leone; FBNBank in Senegal; and a FirstBank Representative Office in Beijing, China. All the subsidiary banks are fully registered by their respective Central Banks to provide full banking services.
Besides providing domestic banking services, the subsidiaries also engage in international cross-border transactions with FirstBank’s non-Nigerian subsidiaries, and the representative offices in Paris and China facilitate trade flows from Asia and Europe into Nigeria and other African countries.
For 130 years, FirstBank has built an outstanding reputation for solid relationships, good corporate governance, and a strong liquidity position, and has been at the forefront of promoting digital payment in the country with over 13 million cards issued to customers (the first bank to achieve such a milestone in Nigeria). FirstBank has continued to make significant investments in technology, innovation and transformation, and its cashless transaction drive has been steadily accentuated with virtually 23 million active FirstBank customers signed up on digital channels including the USSD Quick Banking service through the nationally renowned *894# Banking code.

With over 42 million customer accounts (including digital wallets) spread across Nigeria, UK and sub-Saharan Africa, the Bank provides a comprehensive range of retail and wholesale financial services through more than 820 business offices and over 233,500 agent locations spread across 772 out of the 774 Local Government Areas in Nigeria.
In addition to banking solutions and services, FirstBank provides pension fund custody services in Nigeria through First Pension Custodian Nigeria Limited and nominee and associated services through First Nominees Nigeria Limited.

FirstBank’s commitment to Diversity is shown in its policies, partnerships and initiatives such as its employees’ ratio of female to male (about 39%:61%; and 32% women in management) as well as the FirstBank Women Network, an initiative that seeks to address the gender gap and increase the participation of women at all levels within the organisation. In addition, the Bank’s membership of the UN Women is an affirmation of a deliberate policy that is consistent with UN Women’s Women Empowerment’s Principles (WEPs) ─ Equal Opportunity, Inclusion, and Nondiscrimination.

For six consecutive years (2011 – 2016), FirstBank was named “Most Valuable Bank Brand in Nigeria” by the globally renowned The Banker Magazine of the Financial Times Group and “Best Retail Bank in Nigeria” eight times in a row, 2011 – 2018, by the Asian Banker International Excellence in Retail Financial Services Awards.
In 2022, the Top 100 African Bank rankings released by The Banker Magazine ranked FirstBank as number one in Nigeria in terms of Overall Performance, Profitability, Efficiency and Return on Risk. Also in 2022, the Bank received the “Most Innovative Retail Banking Product in Nigeria (FastTrack ATM)” and “Best Retail Bank in Nigeria” awards from International Finance Magazine. FirstBank was also awarded “Best Corporate Banking Western Africa, 2022” and “Best CSR Bank Western Africa, 2022’’ by Global Banking and Finance Magazine.
Other notable awards in FirstBank coffers include: “Best Bank in Nigeria” by Global Finance magazine – fifteen times in a row; “Best Private Bank in Nigeria-2021” awarded by Global Finance magazine; “Best Internet Banking Nigeria” and ‘’Best CSR Bank Africa’’ by International Business Magazine.
In 2023, FirstBank received notable awards including “Best Private Bank for Sustainable Investing in Africa 2023” by Global Finance Awards; “Best Sustainable Bank in Nigeria 2023” by International Investors Awards; “Best Bespoke Banking Services in Nigeria 2023” by International Investors Awards; “Best Financial Inclusion Service Provider in Nigeria 2023” by Digital Banker Africa; and “African Bank of the Year” by African Leadership Magazine; ’’Best Corporate Bank in Nigeria 2023’’ by Euromoney Awards and ‘’Most Innovative Banking Brand – Nigeria 2023’’ by Global Brands Award.
Other laudable feats in 2023 include FirstBank’s international recognitions on major indices by Euromoney Market Leaders, an independent global assessment of the leading financial service providers where FirstBank was crowned:
Market Leader: (tier-1 recognition) in Corporate Banking,
Market Leader: (tier -1 recognition) in Digital Solutions,
Highly Regarded: Corporate and Social Responsibility (CSR),
Highly Regarded: Environmental, Social and Governance (ESG),
Notable: in SME Banking.
Significantly, FirstBank’s Global Credit Rating was A+ with a positive outlook while ratings by Fitch and Standard & Poor’s were A (nga) and ngBBB+ respectively both with Stable outlooks as at September 2023. FirstBank maintained the same level of international credit ratings as the sovereign; a milestone that was achieved in 2022 for the first time since 2015.
Our vision is ‘To be Africa’s Bank of first choice’ and our mission is ‘To remain true to our name by providing the best financial services possible. This commitment is anchored on our core values of EPIC – Entrepreneurship, Professionalism, Innovation and Customer-Centricity. Our strategic ambition is ‘To deliver accelerated growth in profitability through customer-led innovation and disciplined execution and our brand promise is always to deliver the ultimate “gold standard” of value and excellence to position You First in every respect.

Folake Ani-Mumuney
Group Head, Marketing & Corporate Communications
First Bank of Nigeria Limited

August 19, 2024
NNPC declares record N3.3tn profit in 2023, announces N2.1tn dividend

The Nigerian National Petroleum Company Limited has announced a net profit of N3.297 trillion for the financial year ending December 2023, marking a 28% increase from the N2.548 trillion profit recorded in 2022.

A statement by Chief Corporate Communications Officer, Olufemi Soneye, on Monday noted that this achievement, the highest in the company’s 46-year history, was disclosed during a world press conference at the NNPC Towers in Abuja.

The statement said, “The NNPC Limited has released its 2023 Audited Financial Statement (AFS), declaring a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, an increase of over N700billion (28%) when compared to the 2022 profit of N2.548trillion.”

Speaking at the event, NNPC’s Chief Financial Officer, Umar Ajiya, highlighted the significance of the company’s fiscal performance, attributing it to “strategic foresight and operational resilience.”

He emphasised that the release of the 2023 Audited Financial Statement (AFS) underscores NNPC’s commitment to transparency and accountability.

“Our fiscal performance reflects both strategic foresight and operational resilience. Despite inherent challenges in our operational and economic environment, we have improved the productivity and financial performance of this great company,” Ajiya stated.

The NNPC Ltd Board Chairman, Pius Akinyelure, credited the financial results to the Petroleum Industry Act of 2021, and the dedication of the company’s Board, management, and staff.

“Akinyelure added that the shareholders of the company have since approved a final dividend of N2.1trn in line with PIA 2021 provisions,” the statement added.

According to the statement, NNPC Ltd is targeting a crude oil production level of 2 million barrels per day by December 2024.

The statement said, “In her remarks at the briefing, the Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan said with improvements witnessed as a result of the renewed vigour in the war against crude oil theft and pipeline vandalism, NNPC Ltd is targeting 2million barrels per day crude oil production by the the end of the year.”

Addressing recent fuel queues in Lagos and Abuja, Executive Vice President, Downstream, Mr. Dapo Segun, urged Nigerians to be patient, assuring that the company is actively working with stakeholders to resolve the distribution and logistics challenges.

“It would be recalled that in 2021, NNPC declared profit in its operations for the first time. From a loss position of N803 billion in 2018, it reduced the loss further down to N1.7 billion in 2019.

“However, in 2020, it posted its ‘first ever’ profit of N287 billion, then in 2021, it recorded a N674.1 billion profit and in 2022, the profit grew to N2.548, an unprecedented achievement in its financial performance. The N3.297 trillion profit declared for 2023 is the highest since the Company’s inception, 46 years ago,” the statement added.

Culled: Punch.

August 19, 2024
Du Plessis beats Adesanya to defend UFC middleweight title

South African Dricus du Plessis defended his UFC middleweight title on Sunday after a fourth-round submission win over bitter rival Israel Adesanya in a blockbuster bout at Perth Arena.

In the main event of UFC 305, du Plessis appeared to be flagging against the two-time former champion before a spectacular takedown of Adesanya solidified his 185-pound belt.

Du Plessis (22-2) has now won 10 fights in a row, having originally claimed the belt after beating polarising Sean Strickland in January.

“I came in here to die for this belt,” du Plessis said. “I came here to take it home. Here I am, still the champion.”

At a sold-out 15,000 Perth Arena, Adesanya (24-4) enjoyed significant crowd support and seemed to have an edge for much of the fight until he was helpless against du Plessis’ rear-naked choke.

“I’m disappointed, but at the same time I’m proud because this is the best I’ve felt and looked,” said the Nigeria-born New Zealander, who made his return after a shock defeat to Strickland in September last year.

“I just had the better man on the night and I’ll give him respect for that.”

Du Plessis was accompanied into the Octagon by South Africa rugby captain Siya Kolisi and second-rower Eben Etzebeth, with his country’s national anthem thundering around the venue.

There was much anticipation over the bout after the fighters had engaged in a war of words in the build-up.

They were meant to fight in Sydney last year, but du Plessis was unavailable due to injury.

It was a measured start amid a febrile atmosphere with the taller Adesanya, a former kickboxer, using his longer reach to fend off the aggression of Du Plessis.

Adesanya aimed to counterstrike and he utilised his favoured kicks to deadly effect, as Du Plessis emerged bloodied on his forehead.

Du Plessis unleashed a powerful left-handed punch late in the first round and his momentum continued in the next when he landed a big takedown and had control on Adesanya’s back.

But he could not lock in a submission as Adesanya worked his way back into the fight with grappling.

Adesanya’s strategy of wearing down Du Plessis appeared to take effect by the fourth round as he landed cleaner punches.

But Du Plessis mustered energy and a rattling blow wobbled Adesanya as the South African soon emerged triumphant.

Also on the main card, Kai Kara-France stunned the partisan crowd by pummelling Australian Steve Erceg in a first round-knockout in the flyweight.

The New Zealander was in an aggressive mood and twice dropped a hapless Erceg with a flurry of powerful punches.

“I knew Steve was going to be crafty and smart, so I had to set it up… and be smart and that’s when I went for the finish,” said the 31-year-old Kara-France.

In the heavyweight bout, Jairzinho Rozenstruik of Suriname beat Australian Tai Tuivasa by split decision.

Credit: The Namibian.

August 18, 2024
We’re Not Selling Employment Slots, NNPC Ltd Warns

The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has denied reports alleging it was selling employment slots to the public.

A statement by the company’s Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye on Saturday called on members of the public, especially jobseekers to disregard the rumours.

According to Soneye, there was no iota of truth in the insinuations that it has employment slots on offer to anyone who wishes to buy.

He described such as “antics of fraudsters” who want to take advantage of unsuspecting applicants.

It cautioned that as a responsible corporate entity, recruitment into the company is a straightforward process and does not involve the sale of slots or inducement of any kind.

It warned that anyone who pays money for any job in the company does so at his or her own risk.

August 17, 2024
54 Demobilised Corps Members From UNICAL Will Be Prosecuted — NYSC

Director General, National Youth Service Corps (NYSC), Brigadier General Yushau Ahmed, has said that 54 corps members from University of Calabar (UNICAL) have been demobilised and will be prosecuted by the NYSC management.

Ahmed in a statement by Director, Information and Public Relations of the service, Eddy Megwavowed, vowed that all illegally mobilised corps members from the university would be prosecuted.

He said 19 among them who initially registered online for mobilisation had been prevented from service, while four Certificates of National Service for other culprits were not produced by the scheme.

This is coming on the back of 101 certificates that were recently voided by the scheme, making it 178.

Ahmed commemded the Vice-Chancellor of the University of Calabar, Professor Florence Obi for her forthrightness to have earlier hinted the scheme on the mobilisation of unqualified graduates from her institution.

He insisted that the scheme would leave no stone unturned in sanitising its mobilisation process.

“The Vice-Chancellor of the University of Calabar came here to report that she observed some names appeared on the institution’s list and they ought not to have been there.

“She checked the list the school gave us and I told her that their certificates would be invalidated.

Ahmed reiterated that the Scheme would intensify its collaboration with all the Heads of Corps Producing Institutions and relevant stakeholders in the country in order to stop the menace.

“Previously, a bread seller was mobilized on the graduation list from the same institution. There are bad eggs in many places that generate matriculation numbers and courses for their candidates,” Ahmed said.

He added that any failure in the mobilisation process from any school falls on the integrity of the management of such institution.

“Those who are responsible for imputing the data of graduates should be people of integrity,” he said.

He called on all employers of labour in the country to verify the authenticity of Certificates of National Service being presented for job placement from the NYSC.

August 17, 2024
Obaseki Didn’t Make Me, I Made Him, Shaibu Boasts

The Edo State Deputy Governor, Philip Shaibu, has berated Governor Godwin Obaseki for failing to recognise him following his reinstatement to office by the court, boasting that he made Obaseki governor.
Shaibu, who was a guest on Friday’s edition of Channels Television’s political programme, Politics Today, said that it took former governor Adams Oshiomhole three months to convince him to support Obaseki to become governor.

“Obaseki was not a politician, even financially, Obaseki was not financially strong to even contest the election. Oshiomhole brought him and when Oshiomhole brought him, some of us argued that he could not be him. It took Oshiomhole three months to convince me and some of our supporters to support Obaseki.

“And when we decided because of the respect for Oshiomhole to support him, he did not bring money – we brought our resources and our friends to bring money and we brought our political capital to make him governor. So, when you are talking about deputy governors and governors, he is not the one that made me, I made him,” Shaibu said.

The duo have been at loggerheads over issues regarding the governorship election in the state.

Shaibu said he was asked to be Obaseki’s deputy to add political value to the party’s ticket because Obaseki was not a politician.

He said his principal tried to stop him from running for the 2024 governorship election by stopping finances due to him as deputy governor, adding that he has not received any cheque from the government for the past year.

‘Obaseki Lawless’
Following his reinstatement as the deputy governor by a Federal High Court, Shaibu announced that he was back to his role and directed his staff to follow suit. However, the Edo state government released a statement saying that Shaibu is impersonating the deputy governor.

Reacting to the accusation of impersonation, Shaibu said that Governor Obaseki has shown how lawless he is.

”The holder of the office of the governor in Edo state today is lawless, Godwin Obaseki is lawless. If he is not lawless, he will not say Philip Shaibu is impersonating because there is a valid court judgment that he has been served.”

”That is not the only court judgement he is not obeying and this is a governor that will not even follow policies of government that he initiated.”

Shaibu’s reinstatement
In a judgment a judgement on July 17, Justice Omotoso declared the impeachment by the Edo State House of Assembly as illegal, unconstitutional, null, and void.

The court held that the said impeachment was in gross violation of the provisions of both sections 188 and 35 of the 1999 Constitution, as amended.

The judge held that the impeachment was in gross violation of the Constitution.

Aside from restoring Shaibu, the court also ordered that his salaries and allowances should be paid to him from April when he was impeached as the deputy governor of the state.

The court issued an order of perpetual injunction restraining Governor Godwin Obaseki and the Edo State House of Assembly from stopping Shaibu from performing the functions of his office.

Justice Omotosho also ordered the Inspector General of Police (IGP) Kayode Egbetokun to restore his security details.

Meanwhile, the Edo State House of Assembly appealed the judgement of the High Court and has filed a motion for a stay of execution pending appeal.

The court verdict came about three months after the lawmakers impeached the embattled 54-year-old as the state’s deputy governor.

August 17, 2024
Court Declines Stay Of Proceedings In Rivers LG Election Suit, APC Challenges RSIEC’s Decision

By Unini Chioma

A Federal High Court in Abuja has refused an application for a stay of further proceedings in a suit challenging the decision of the River state government to conduct a local government election in October.

Justice Peter Lifu, in a ruling on Thursday, August 15, dismissed the oral application for a stay of proceedings made by defendants in the suit, marked: FHC/ABJ/CS/987/2024 filed by the All Progressives Congress (APC).

Justice Lifu held that since none of the defendants filed before the court either an application for a stay of proceedings or an application for a stay of execution of their court’s earlier interim injunction, the court couldn’t stay proceedings.

The judge added that seeking a stay proceedings without allowing the court to determine if the suit is a pre-election matter or not is premature.

He held that it was proper for the court to proceed with the hearing of the case because parties to the suit have filed their several preliminary objections and have joined issues.

The judge said in the absence of a motion for stay and a motion challenging jurisdiction, all processes having been filed, the court is minded to proceed with the hearing of the substantive suit.

Justice Lifu also dismissed the application filed by members of the state executive of the APC in Rivers seeking to be made parties to the case.

The judge said: “Joining the parties seeking to be joined will be superfluous because they are card-carrying members of the plaintiff (APC).

“Its involvement in the suit covers all its members. The application for joinder fails for lack of merit and it is dismissed.”

Upon the application for adjournment by lawyers to the defendants, which was not opposed by the plaintiff’s lawyer, Joseph Daudu (SAN), Justice Lifu adjourned till August 29 for further hearing.

Defendants in the case are the Independent National Electoral Commission (INEC), Rivers State Electoral Commission (RSIEC), the Attorney General of Rivers State, the Inspector General of Police (IGP) and the Department of State Services (DSS).

The APC is contending, in the substantive suit, that the RSIEC failed to fulfil legal requirements to conduct the local government election, which it scheduled for October 15.

The party argued that while RSIEC is legally bound to use the voter register compiled and kept by INEC for conducting local government elections in Rivers State, it failed to give a 360-day notice to INEC before the election date.

In a supporting affidavit, Tony Okocha, described as the acting Chairman of Rivers APC, said the suit was filed because the RSIEC allegedly failed to comply strictly with the provisions of the Electoral Act in respect of the management of the register of voters which it intends to release to Rivers electoral body for local government elections in breach and violation of the provisions of the 1999 Constitution and the Electoral Act.

Okocha stated that it is only the voter register compiled, maintained, updated, and kept in the custody of INEC that RSIEC can obtain and use to conduct local government polls as RSIEC is not entitled to compile, maintain, update, and keep in its custody any separate voters register.

In a ruling on July 19 on an ex-parte motion by the plaintiff, Justice Lifu issued an order restraining INEC, from releasing voters register to the RSIEC for the conduct of local government elections in the state.

He also restrained the IGP and the DSS from participating or providing security protection for the RSIEC to conduct the election.

The judge ordered parties to maintain the status quo ante bellum and to refrain from any act or take steps in furtherance of the conduct of the election pending the hearing and determination of the substantive suit.

August 15, 2024