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How We’re Stabilizing Exchange Rate, Curbing “Imported Inflation” – CBN Spokesperson

Spokesperson of the Central Bank of Nigeria (CBN), Mrs Hakama Sidi Ali has identified the clearing of the foreign exchange transactions backlog as part of the overall strategy to stabilise the exchange rate and thereby curb what it called “imported inflation.”
In a statement in Abuja, Mrs Hakama Sidi Ali said that such measure was detailed in last month’s Monetary Policy Committee meeting.
She announced that through gradual and meticulous processes, the apex bank had finally cleared all valid foreign exchange backlogs, thereby fulfilling a key pledge of the CBN Governor, Olayemi Cardoso, to process an inherited backlog of US$7 billion in claims.
Hakama Sidi Ali said that the CBN recently concluded the payment of $1.5 billion to settle obligations to bank customers, effectively settling the residual balance of the FX backlog.
She sad that independent auditors from Deloitte Consulting meticulously assessed these transactions to ensure that only legitimate claims were honoured, saying that any invalid transactions were promptly referred to the relevant authorities for further scrutiny.
She recalled that at a recent meeting, Governor Cardoso had vowed to make clearing the FX backlog a priority to restore credibility and confidence in the economy.
She quoted him as saying: “it was important that we go through an independent and credible process that would determine the authenticity of those obligations, and, at this point, I can tell you that we have now cleared all genuine, verifiable transactions. This encumbrance to market confidence in the country’s ability to meet its obligations is now totally behind us.”
She said that Cardoso used the MPC meeting and a subsequent conference call with foreign portfolio investors to set expectations for sustained increases in Nigeria’s foreign currency reserves and improved liquidity in the foreign exchange market.
According to the spokesperson, the CBN followed this month by reporting a significant increase in external reserves, rising by $993 million to $34.11 billion as of March 7, 2024, the highest level in eight months.
“The month-on-month increase was driven by a marked advance in remittance payments by Nigerians overseas, as well as higher purchases of local assets, including government debt securities, by foreign investors.”

Crises At Okuoma Community In Delta And Killing Of 16 Nigeria Soldiers, By Anonymous

Okuoma community is an Urhobo community in Ughelli south Local Government Area (LGA) located along the Forcados River. It shares boundaries with Akugbene and Okoloba communities, and both are Izon (Ijaw) speaking communities, located in Bomadi L.G.A of Delta State. Both communities have lived together peacefully for over 3 centuries now. Okuoma community is in Ewu-urphie clan of the Urhobo tribe of Delta State.
Their major occupation is farming and fishing.
There are other Urhobo communities along the Forcados River who all share boundary with the Izon speaking communities. They are also follows: Gbaregolor, Okuoma, Olota, Alagbabiri communities e.tc., all these communities are in Ughelli South L.G.A and they all share boundaries with the Izon speaking communities.
These communities have lived with the Izon speaking communities for several centuries. They have had intermarriages, inter trades, among themselves for some centuries.
We have several families who are from both tribes (Urhobo and Ijaw). In the olden days, for you to be crowned a king in Izon land, you must have your maternal root from the Urhobos. I don’t know if that tradition is still in practice. I know some few Kings whose that maternal roots are from the Urhobo tribe, e.g. HRM Oporomor Godspower of Bomadi town (Ijaw community) in Bomadi L.G.A.
He had his maternal root from Gbaregolor community (Urhobo community) which is located along the Forcados River. His Royal Highness, king of Akugbene community (Ijaw town) has his maternal root from Okuoma community (Urhobo town). The king of Akugbene community influenced some developments in Okuoma, like construction of jetty at the waterfront of Okuoma, e.t.c.
These people (Urhobos and Ijaws) are one people because they are related by blood or marriage in one way or another. Mr. Barrister Smooth, a famous Ijaw singer once said in his song “When you come to my house you can’t separate Ijaw man from Urhobo man because they all live together as one. We are one people.”
Back to the main issue;
Okuoma community had land dispute with their neighboring community Okoloba over common boundary. The land dispute has been lingering for quite a long time now. At the boundary side of Okoloba community there is a white mansion, this mansion belongs to a warlord, a man known to be a right-hand man to Mr. Government Tompolo.
Okoloba community have always claimed ownership of the land on which the Okuoma community is located, they always say the “Okuoma inhabitants are their tenants.”
If you recall, I earlier said there is a mansion at boundary of both communities, this mansion is owned by a warlord from Okoloba (Ijaw community) this man is so influential and he owns a shrine in this mansion where he practices human sacrifices as rituals in worshipping his war god; Egbesu.
Last month February, this man armed his boys and attacked a commercial boat conveying some Okuoma community boys namely Igho and co. These boys were all murdered by this warlord and he labeled them criminals.
He wrote to JTF (Joint Task Force) that they were criminals. Remember, I told you that he is Tompolo’s right-hand man He is so influential and connected that whatsoever he tells the JTF is what they accept, because his boss Tompolo owns Tantita Security Forces and they control the creeks.
This act alone triggered the grievance of the Okuoma community. When this warlord’s gang want to carry these crimes, they put on army camouflage so it’s difficult to differentiate genuine Army personnel from these hoodlums.
Last week, a man named Anthony Aboh from Okoloba community went missing, his relation from Okoloba community, an Honorable member, believed that It was the Okuoma community that kidnapped him to retaliate for the attack which was carried out on the Okuoma community boys, so they reported the issue to the Bomadi JTF.
Just before he reported, the body of the alleged kidnapped man was discovered floating on River Forcados at Ayakoromor community. His hands were tied and he had been beheaded (that was the picture displayed on Social Media with the fallen soldiers body). This annoyed the Okoloba community so much, the Honorable and some delegates from the Okoloba reported to JTF, which then proceeded to Okuoma community on March 14th, 2024 with some soldiers in company of the Honorable. On reaching there, they met with the chairman and elders of the community in their town hall and they brought up the case of the kidnapped beheaded man with the community leaders.
The chairman and elders all denied saying they know nothing of such case, which made the soldiers ask the elders and community leaders to lie on the floor. The Army then insisted on arresting the community leaders and that was where the crises erupted from.
The information got to the youths that fake soldiers have come to terrorize the community again, and when they turned up there was argument between the Army and community youths.
The Army released some gun shots, leading to a full blown war between the youths and the Army because they believed they were fake soldiers. They were killed in error. It is a case of mistaken identity.
The people of Okuoma where soldiers were killed were attacked by Ijaws (Okoloba warlord) and they suffered casualties, mind you when this warlord carried out the dastardly act they wore Army camouflage.
Within the same week, on sighting men in uniform again in the Okuoma community they believed they were the same set of Ijaws warriors from Okoloba again and retaliated, killing all of them not knowing that they were real soldiers……
My fellow Nigerians, this is the real cause of the crises.
March 15th, Okuoma was raided and razed down by Nigeria Army because of the death about 16 fallen soldiers, women, children, and aged men weren’t spared, but funny enough the actual perpetrators have since fled the community leaving those who are either too old, too weak, too sick, too young, or too innocent to flee.
Till now, there’s still crying, gnashing of teeth, and blood flow around the Forcados River axis. On March 17th yesterday the Army stormed the white mansion at the border after gathering intelligence, on reaching there, they were amazed at what they discovered in the shrine at the white mansion.
This mansion is situated at the River bank; they discovered fresh and dried human skulls of innocent people who were used by this warlord as sacrifices for his god (Egbesu).
Angered, the Nigerian Army burned down the mansion. Some fake soldiers were also arrested in the mansion. This is the true story of what happened that has claimed so many lives including the lives of a Lt. Colonel, 2 Majors, a Captain, and 12 soldiers, all men of the Nigeria Armed Forces…. Man’s wickedness to man.
God save our souls.

CBN Faces Legal Storm As Dismissed Directors Head To Court

CBN

The Central Bank of Nigeria (CBN) may soon be thrown into legal tango with five dismissed directors who are planning to take legal action against the bank for what they consider to be an unlawful termination of their appointments.

The hint of the dismissal of 19 directors was dropped recently after the termination of seven directors last week Friday.
Two directors are said to have accepted their termination quietly but are facing a case with the Economic and Financial Crimes Commission (EFCC) due to their implication in the Obazee report.
The termination letters sent to the seven directors by the apex bank cited “re-organizational and human capital restructuring” as the reason for their dismissal, in line with the bank’s new strategic direction.
The letters said that their services would no longer be required with effect from Friday, 15th March 2024, and they were instructed to hand over all bank properties in their possession to their department’s administrator immediately.
The five directors who are contesting their termination are reportedly upset as no wrongdoing has been attributed to them, and they have not been implicated in any misconduct.
One of the directors affected has just two years and two months left in service.
The situation at the CBN has sparked discussions and concerns about the impact of the dismissals on the bank’s operations and the fate of the affected directors.
Source: PRNigeria.

My Wife Confessed I’m Not The Father Of Our 2 Kids, Man Tells Court

“My wife is having extra- marital affairs. She confessed to me that only my second child was my biological child.
“She said that the other two were not my biological children.”
These were the statement made to a Customary Court in Jikwoyi, Abuja, by a plumber, Desmond Igbo, to justify his reason for wanting a divorce with his wife, Rosemary.
The man, who resides within the jurisdiction of the court, said that she had been taking care of his wife and the children for about 13 years .
“This is heartbreaking. It is on this issue that I seek to divorce my wife.”
He told the court that there was no love and understanding in the marriage.
The wife, who is a businesswoman, however denied the allegations.
The trial Judge, Thelma Baba, advised the couple to explore reconciliation, and adjourned the matter until 25, for report of settlement/hearing. Source: NAN.

Nigeria Football Ruling Body Picks Ex Eagle Scorer, Finidi, As Super Eagles Interim Coach

The Nigerian Football Federation (NF) has picked the former Nigeria forward, Finidi George, as Interim coach of the Super Eagles.
He will occupy the chief’s corner in the dugout when the Super Eagles confront West African arch-rivals Ghana in an international friendly in Marrakech this week Friday, March 22.
The 52-year-old former Ajax Amsterdam (The Netherlands) and Real Betis (Spain) winger made a scoring debut in an Africa Cup of Nations qualifying match against Burkina Faso at the National Stadium, Lagos on 27th July 1991.
He has been appointed by the NFF to hold the reins in the meantime as a group of 22 players take on Ghana and Mali in this month’s international window.
On his debut in 1991, Finidi George, who also featured for Calabar Rovers and Sharks FC in the domestic scene before heading to Europe, scored one and made four assists for legendary ‘goalsfather’ Rashidi Yekini (of blessed memory), and also assisted the latter to score Nigeria’s first-ever FIFA World Cup goal against Bulgaria in Dallas, USA on 19th June 1994.
Finidi George scored the goal that took Nigeria to her first FIFA World Cup finals, when he put Nigeria ahead against hosts Algeria in a crucial qualifier in Algiers on 8th October 1993. The match eventually ended 1-1 and earned Nigeria a ticket to the finals in America.
On Friday, Finidi George, from a family of football stars (elder brother Alari and younger brother Igeniwari of blessed memory were established players), will bellow instructions from the touchline, 21 months after he began to understudy Portuguese José Santos Peseiro, who led the Super Eagles to runner-up position at the 34th Africa Cup of Nations in Cote d’Ivoire earlier in the year.
As at today, March 19, 12 out of the 22 players expected had arrived in Morocco’s fourth-largest city, with defenders Gabriel Osho and Tyronne Ebuehi, and forwards Victor Osimhen and Taiwo Awoniyi having been knocked out by injury.
At the team’s Adam Park Hotel in Marrakech are goalkeepers Stanley Nwabali and Olorunleke Ojo, defenders Calvin Bassey, Semi Ajayi, Jamilu Collins, Bruno Onyemaechi and Benjamin Tanimo, midfielders Alex Iwobi, Raphael Onyedika and Alhassan Yusuf, and forwards Moses Simon, Nathan Tella, Cyriel Dessers, Fisayo Dele-Bashiru, Sadiq Umar and Ademola Lookman.
Goalkeeper Francis Uzoho, defender Chidozie Awaziem, midfielders Frank Onyeka and Wilfred Ndidi, and forward Kelechi Iheanacho were being expected in Marrakech by Tuesday. Only Turkey-based defender Bright Osayi-Samuel is being expected on Wednesday.
The African vice champions will also take on the Les Aigles of Mali at the same Grand Stade de Marrakech on Tuesday, 26th March.

If I’m Out Of This Mess, I Can Stop Killings In Southeast In 2 Minutes – Nmamdi Kanu

Detained leader of the proscribed Indigenous People of Biafra (IPOB), Nnamdi Kanu, has made it clear that he has the capacity to stop violence and killings in the Southeast by the time he gets out of “this mess.”

Kanu, who spoke in an interview with newsmen today, March 19, said that the organisation, which he leads, is not a violent one, saying that some people in government are making money from the Southeast’s insecurity.

He spoke after Justice Binta Nyako of a Federal High Court, Abuja adjourned his trial until April 17, 2024.

The News Agency of Nigeria reports that Justice Nyako had earlier rejected his bail application and a preliminary objection filed on his behalf by his lawyer, Alloy Ejimakor.

Kanu vowed that those behind the violence leading to wanton killings of their fellow brothers and sisters and burning of property under the guise of being IPOB members would not be spared.

According to him, violence persisted because he is being held in the custody of the Department of State Services, stressing that there would be peace in the entire Southeast of the country.

“Anybody committing crime cannot go free. I swear.

“Anybody committing crime in the South East cannot go free.

“They are doing it because I am in the DSS custody. If I were to be outside, nobody would try that.

“I suspect that some people in the government are complicit. They are making money with the insecurity.

“They know if Nnamdi Kanu is outside, in two minutes, this nonsense will stop. Who is the bagger or idiot that will speak when I am talking?

“That I will give an order in the East, who is the idiot that I will give an order that will counter it?

“Nobody can.VI am Nnamdi Kanu.

“Rubbish!

“Anybody involved in any form of violence in the East in the name of IPOB is a goner and they know it.

“Let me come out of this mess, only two minutes, there will be peace in the east.”

Earlier, Kanu and his lawyer applied that he should be transferred to Kuje Correctional Centre following the refusal by the court to admit him to bail.

They said that granting the request would enable them to prepare for their defence adequately.

Ejimakor insisted that Kanu’s lawyers are having difficulty in consulting with him at the DSS custody, where he is currently kept.

He said that they won’t be able to proceed with the trial unless the detained IPOB leader is moved from the DSS custody.

He alleged that the DSS personnel usually confiscate documents brought for Kanu by his lawyers, even as he alleged that the security operatives usually stop them from taking notes during visitation, and that they eavesdrop on Kanu’s consultation with lawyers on matters pertaining to his defence, among others.

The lawyer then urged the court to make an order transferring him to Kuje Correctional Centre for them to have adequate time and facility to defend him in accordance with Section 36(6)(b) and (c) of the 1999 Constitution.

Also speaking in the open court after he was granted leave to speak, Kanu pleaded with the court to send him to the correctional centre.

He said that apart from the fact that he was not free to consult with his team of lawyers any time they visited, the DSS had no medical facility good enough to take care of his health.

The IPOB leader, in a dramatic mode, pulled off his top Liverpool jersey to show the judge parts of his armpit to complain about his alleged poor treatment.

But Justice Nyako refused the oral application seeking the transfer of Kanu to Kuje Correctional Centre, saying that an order declining the request had already been made in the past.

She said that the only option was for the defence to challenge the order at the Court of Appeal.

The judge held that the prison was insecure, citing over 15 terrorism suspects that escaped from the correctional centre in the recent past.

Kanu then sought that an order should be made placing him under house arrest instead of the DSS facility.

He alleged that his continuous detention at the DSS custody did not augur well with him going by his state of health.

Justice Nyako rather directed Ejimakor to apply for variation of conditions granted to visit Kanu in the detention.

Then Ejimakor applied that Kanu should be kept in a private custody in order to allow his lawyers free access to him, saying that this is their concern going by Section 36 of the constitution.

The judge said that since the court is a court of record, the request should be filed to afford the prosecution to also respond appropriately.

Counsel for the Federal Government, Chief Adegboyega Awomolo, also disagreed with Ejimakor’s application.

The senior lawyer said that an order of the court had already been made and that the action of the defence was to delay trial after the court had already granted an accelerated hearing of the matter.

Awomolo said that there is a guideline for lawyers visiting Kanu at the DSS facility, but more often than not, they flouted the directive.

He said that the practice is that any lawyer paying a visit to the defendant must first write to the Director General of the security outfit for clearance.

He said that this is to guard against a visitor coming into the facility with the intention of harming the IPOB leader and causing unnecessary problems in the country.

Awomolo said that though the defendant had a team of lawyers, there had been a time when a lawyer who visited Kanu was not even known to him.

He said that there is nowhere in the world where a terrorist suspect is allowed to move freely.

The senior counsel said that he is ready to proceed with the trial and that their witnesses were in court.

But Ejimakor disagreed, saying his client should be kept in a place where they would be well prepared to defend their case.

Justice Nyako adjourned the matter until April 17 for hearing.

CBN Urges Vigilance Against Fraud

The Central Bank of Nigeria (CBN) has urged Nigerians to educate themselves and their children about the tactics of fraudsters and scammers to safeguard their finances.

Speaking at the 2024 Global Money Week celebration in Abuja, Deputy Governor Philip Ikeazor emphasized the importance of instilling financial awareness from a young age.

The theme, “Protect Your Money, Secure Your Future,” highlights the necessity of understanding financial scams, saving, and investing for a secure future.

Ikeazor emphasized that financial security isn’t solely about earning money but also managing resources effectively.

He stressed the importance of recognizing frauds and scams, knowing how to respond to scammers, and safeguarding finances both online and offline.

Ikeazor encouraged prompt reporting of encounters with scammers to financial institutions.

Minister Wike Narrates How Lands Director, Lawyer Illegally Allocated 500 Hectares Of Land After exit Of Last Govt

Governor Nyeson Wike of River State

The Minister of the Federal Capital Territory (FCT), Nyesom Wike has given the details of how a Land Director and a Lawyer engaged by the FCT Administration unilaterally connived to issue 500 hectares of land with infrastructure to an individual who in turn sold the land.
The Minister, who spoke yesterday, March 18, during the 2023 budget defence and 2024 proposal before the House Committee on the FCT, chaired by Hon. Aliyu Muktar Betara, said that the embattled Director of Land gave the illegal approval few days after the immediate past Minister of the FCT, Muhammad Bello, left office on May 29, 2023.
Wike insisted that the Director of Land lacks the capacity to act on behalf of the FCT Minister.
“It’s very embarrassing that the former Minister left on May 29, in June, a Director of Land signed 500 hectares of land to an individual.
“And the individual of course goes to this court, gets judgement, goes here, gets judgement, for me, such judgement will not stand.
“I’m going to demolish the plaza first.
“I told our Lawyer….
“There are certain things we cannot accept.
“So, whosoever is involved, it doesn’t matter who is involved, the Director of Land cannot act for the Minister, it cannot work.
“Do you know what this individual did?
“In connivance with FCT Lawyer, he went to court on Thursday to get an order stopping the commissioning of this park.
“Of course, this is a State
“I have to take the file away from the lawyer….
“I don’t know anyone can come to you.
“If you’re given 500 hectares, what I thought, you are authorised to do mass housing, now what they are doing is to go and allocate land to an individual and sell.
“I’ve never seen that.
“One man 500 hectares.
“Meanwhile, the government has provided infrastructure.
“So, when you hear it, as your friend and brother, you have heard it now.”
Wike said that the cartel had last Thursday got a court injunction to stop the planned commissioning of the Sunrise Motor Park this week Friday, which he described as the biggest in West Africa and comparable to Disney Park.
He said that such infrastructure will attract investment and boost the administration’s revenue drives as well as create employment for teeming Nigerians.
Giving an update on the Legal Services Secretariat proposed budget of N5,583,687,567 million out of which N1.3 billion is for capital expenditure, Wike observed that the administration currently has more than 600 cases in courts across the Territory.
“In every year we have suits not less than 1,000 and all these require a lot of money.
“As we speak today, we have more than 600 judgements on FCT, some of them are legal, some of them are civil servants.
Giving update on this year’s proposed budget, the Minister disclosed that a fiscal framework of the sum of N1,147,780,610,283 comprising Distributable Revenue of N510,364,426,028 and Non-Distributable Revenue of N637,416,184, 256 has been proposed for the FCT 2024 Statutory Budget after due deliberations with all the Revenue Generating Agencies of the FCTA.
When compared with the Revised 2023 Appropriation of the sum of N641,247,685,792, there is an increase of the sum of N506,532,924,491.44 (44%) in the 2024 statutory budget proposal.
According to him, the increase is as a result of the expected loan from a commercial bank in the sum of N500 billion.
For Overhead Costs, the FCT Minister disclosed that the sum of N280,527,373,668 representing (24.44%) was proposed for 2024 fiscal year against an appropriation of the sum of N135,413,919,180 in 2023 fiscal year, representing an increase of N145,113,454,488.64 (52%), in order to address some critical overhead costs.
Under the Capital Expenditure, the Minister proposed the sum of N726,338,232,759 representing 63.28%, for 2024 for the development of infrastructure, with emphasis on completion of ongoing projects, showing 44% increase over the 2023 Revised Appropriation of the sum of N406,298,063,083.
According to him, out of the proposed Capital Expenditure, the sum of N80 billion is for SUKUK Loan Projects, N29 billion is for Abuja Light Rail Project and N500 billion for Commercial Loans planned to complete some ongoing Capital Projects in FCC and Satellite Towns, while the balance sum of N117,338,232,759 is dedicated to the completion of the ongoing capital projects and other counterpart funded related projects aimed at enhancing socio-economic activities of the FCT. 6
For the Transportation Sector, the FCT Administration proposed the sum of N69 billion, out of which N73 billion is proposed for recurrent expenditure 2024 fiscal year and the sum of N61.6 billion is proposed for capital budget for the year 2024.
Out of this, the sum of N29.6 billion is for the Abuja Light Rail Project rolling stock and provisions for other Phases and the sum of N32 billion is proposed for Construction of Bus Terminals Development at Kugbo, Jahi and Center Business District of FCT.
For the Education Sector, the Minister proposed the sum of N80.3 billion, out of which the sum of N56 billion is for recurrent expenditure and the sum of N24 billion is for Capital Expenditure, which includes the sum of N2 billion as UBEB Counterpart funding in the 2024 Statutory Budget.
For the Health Sector, the FCTA proposed the sum of N45.7 billion, out of which the sum of N35.5 billion is for recurrent expenditure, which includes the sum of N1.3 billion for Drug Revolving Fund while the sum of N10.2 billion is for Capital Expenditure.
The FCT 2024 Statutory Budget seeks to complete the construction of hospitals in Gwagwalada, Gwarimpa and Utako Districts to enhance the capacity of some of our hospitals through the procurement of modern ambulances for eight FCTA Hospitals.
For the Abuja Geographic Information Systems budget proposal, the FCT Minister disclosed that the sum of N1,154,913,273 was proposed for provision of state-of-the-Art geo-spatial data infrastructure and management of the Land Information System with a view to enhance its revenue generation.
For the Area Council Services Secretariat, the sum of N4,152,146,290 was proposed with a view to ensuring effective and efficient service delivery for rural transformation, improving quality of lives of the citizens and strengthening the traditional institutions as effective tools for mobilisation of the grassroots in order to achieve developmental goals of the FCT Administration.

ICPC, Coalition For Dialogue Renew Pact On Asset Recovery, Illicit Financial Flow

ICPC Grandaunts

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Coalition for Dialogue on Africa (CoDA) are to strengthen their cooperation agreement towards tackling the Illicit Financial Flows and providing support for the Common African Position on Asset Recovery (CAPAR).
The Chairman of the ICPC, Dr. Musa Adamu Aliyu, who spoke today, March 19, during the visit of the Executive Director of CoDA and Head of the Secretariat of the African Union High-Level Panel on Illicit Financial Flows, Mrs. Souad Aden-Osman, said: “The Commission will continue to work with CoDA and support the fight against illicit financial flows. We are ready to help CoDA.
“We need to tackle the menace of illicit financial flows. There is an absolute need for us to come together to jointly fight and eradicate the menace until the battle is won and Nigeria and Africa are free from illicit financial flows.”
Dr. Aliyu assured that the Commission would continue to be represented in the Working Group on the implementation of the recommendations of the African Union High-Level Panel on Illicit Financial Flows.
Earlier, the CoDA Executive Director, Mrs. Souad Aden-Osman, recalled that the organization had on January 27, 2022, entered into a cooperation agreement with the ICPC on implementing CAPAR and reversing illicit financial flows.
She noted that the agreement was to regulate the relationship between the parties in pursuing their common objective towards advancing asset detection and identification, asset recovery and return, asset management as well as cooperation and partnership in Africa.
Aden-Osman disclosed that the African Union had in January 2015 adopted a Special Declaration on Illicit Financial Flows towards addressing the increasing scale and extent of the menace from Africa.
On the Common African Position on Asset Recovery (CAPAR), she stated that the Assembly of African Union Heads of State and Government adopted a common position during its 33rd Session in February 2020.
Acknowledging the vital role Nigeria has played in the African Union’s Special Declaration on IFFs and the adoption of CAPAR, the Head of the Secretariat of the African Union High-Level Panel urged the country and the ICPC not to relent in championing the cause of IFFs and CAPAR.
She said that the African Union had commenced an assessment of Nigeria and other African Countries on their national response level and implementation status of the recommendations of the AU High-Level Panel on Illicit Financial Flows.
She explained that the assessment would cover the state of IFFs in African countries and ongoing efforts of African Governments to reduce IFFs and also provide baseline information to guide the design of possible interventions aimed at strengthening the capacities of AU member-states to combat illicit financial flows and mobilize domestic revenues.

How Legal Battles On Conduct Of Party Primaries Eat Into INEC’s Budget – Chairman

Chairman of the Independent National Electrical Commission (INEC), Professor Mahmood Yakubu has cautioned against wrong party primaries that often lead to legal battle in which the Commission is joined.
Addressing political party representatives at the regular meetings, especially as the off-the-season Governorship elections in Edo and Ondo States approach, Professor Mahmood Yakubu asked political parties to adhere strictly to modes of primaries.
“Frequent changes as we witnessed recently during the Edo primaries are not only disruptive but costly.
“The Commission cannot mobilise, demobilise and remobilise our officials for the monitoring of party primaries at the convenience of political parties.
“Parties should stick to their proposed dates and modes of primaries for certainty and optimal deployment of resources.
“Similarly, political parties should avoid acrimonious primaries. Increasingly, the conduct of parallel primaries and the emergence of multiple candidates is a frequent occurrence. So too is the tendency to grant waivers to candidates who were a few days earlier card-carrying members of other political parties and nominating such persons to the Commission as their candidates for election. “Some of these infractions lead to unnecessary litigations among party members in which the Commission is always joined as a party. “The legal fees and cost of producing Certified True Copies (CTCs) of documents can be used more productively in other electoral activities by both the political parties and the Commission.
“We must find a solution to this situation.”
The INEC boss said that the off-cycle Governorship elections in Edo State will hold on Saturday, 21st September 2024 while the Ondo State Governorship election holds on Saturday, 16thNovember 2024.
He said that already, party primaries for the Edo State Governorship election have been concluded.
“By the Timetable and Schedule of Activities for the election, political parties have 20 days to upload the list and personal particulars of their candidates to our dedicated portal.
“We have trained party Liaison Officers and established a Help Desk for political parties.
“The portal opened on 4th March 2024 and will automatically shut down at 6pm on Saturday 24thMarch 2024.
“Two weeks later, only six parties have uploaded their nominations to the portal.
“We urge you to keep to our schedule of activities and avoid last minute rush that may undermine your ability to successfully nominate your candidates.
“There will be no extension of time beyond the deadline already published in the Timetable and Schedule of Activities for the election, to enable us publish the personal particulars of candidates (Form EC9) on 31st March 2024 as required by law.
“For the Ondo State Governorship election, party primaries begin in the next two weeks on 6thApril 2024 and ends three weeks later on 27thApril 2024.
“So far, 16 out of 19 political parties have indicated interest in participating in the election.

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