Presidential candidate of the ruling All Progressives Congress (APC), for the 2023 election, Asiwaju Bola Ahmed Tinubu, has described other political parties as a mushroom groups.
Tinubu, who participated in a mega campaign rally for Governor Adegboyega Oyetola today, July 12 in Osogbo, said: “PDP and mushroom parties. Like Labour party. They say they are labour, they will labour till death.”
Speaking in Yoruba language, the APC Presidential flag bearer said: “God will not let you (electorate) become labourers. You will meet good fortune at home; the good fortune of money and children. You are next.”
Tinubu attended the rally alongside Senate President, Ahmad Lawan and several APC Governors, including campaign leader, Governor Babajide Sanwo-Olu of Lagos State.
Other Governors present at the rally include Abdullahi Ganduje of Kano State, Babagana Zulum of Borno State and Atiku Bagudu of Kebbi State.
National Chairman of the APC, Abdullahi Adamu and the party’s Vice Presidential candidate, Kassim Shettima, were also present.
Governor Oyetola is seeking a second term of four years in Saturday’s governorship election in Osun state.
Former Deputy National Publicity Secretary of the All Progressives Congress (APC), Yekini Nabena, has argued that the Presidential candidacy of Atiku Abubakar which violated the People’s Democratic Party (PDP) zoning arrangement is more harmful to the unity of Nigeria than APC’s Muslim-Muslim joint ticket.
Speaking to news men today, July 12 in Abuja, Yakini Nabena said that Nigerians should be more worried that the opposition party killed fairness and conventional power rotation between the North and South, than the Muslim-Muslim ticket of the ruling party.
He asked Nigerians to ignore the unnecessary cry from the opposition parties, emphasizing that there are Muslims in the North, as well as all parts of the South, hence Muslim-Muslim ticket of the APC is harmless.
The APC chieftain gave the example of the South-South geopolitical zone where most of the states have Christian-Christian Governor and Deputy, adding that the states are yet to develop despite their huge oil revenues and huge oil revenues.
The former APC spokesman also argued that a single faith ticket is not new in Nigeria going by history, listing Buhari/Idiagbon Muslim-Muslim ticket, and Gowon/Adewale Christian-Christian ticket in the past.
“Heaven did not fall. In 2011, when the Action Congress of Nigeria (ACN) fielded Nuhu Ribadu and Fola Adeola, both Muslims, there was no cry by the opposition because the ticket stood no chance of winning.
“None of those agitating against the Muslim-Muslim ticket on the basis of fairness have considered the African traditional worshippers. How fair is it that we are agitating for fairness and equity to share power between Christians and Muslims while completely ignoring and alienating our African traditional worshippers, where is the justice?
“Nigeria should worry more about the zoning arrangement which the PDP has just killed for their selfish interest and desperation of its presidential candidate, Atiku Abubakar, because of his last chance which will become one-chance by 2023.”
On whether a Muslim-Muslim ticket will fly in the South-south where he hails from, Nabena said: “In the South-south where we have Christian-Christian ticket for the Governor and Deputy there is still no tangible development. Take, for example, the NDDC headed by a Christian Minister and a Christian Managing Director, what is the result?
“The APC has done the right thing by zoning the presidency to the South. Nigerians must know that religion is a matter of individual race, the most important thing is that the presidency is in the South compared to PDP’s unfair treatment of the South.
“PDP zoned the presidency to the North while the incumbent president is from the North, a Muslim and Fulani man, just like Atiku. This actually calls for anger and not harmless Muslim-Muslim ticket of the APC.”
Nigeria has recorded foreign direct investment (FDI) to the tune of $223.3 million between January and May 2022, showing an increase of 3.7 per cent when compared to $215.3 million recorded in the corresponding period of 2021.
However when compared to comparable period of 2020, FDI declined by 7.5 per cent from $241.5 million received in the period under review.
According to the record with the Central Bank of Nigeria (CBN), Nigeria’s foreign direct investment has dwindled significantly recently, hitting a record low of $698.8 million in 2021, most of which was equity.
Foreign direct investment is a form of inflow in which investors bring in their investments in an enterprise in another economy with the objective of gaining control or exerting significant influence over the management of the firm.
Increased foreign direct investment is believed to help improve the level of employment in the country, allowing the transfer of technology, thereby contributing to economic growth. According to the Organisation of Economic Co-operation and Development (OECD), FDI is an integral part of an open and effective international economic system and a major catalyst for a country’s development.
On the other hand, the inability of foreign investors to repatriate their proceeds from the Nigerian economy has also further affected inflows of foreign direct investments into Nigeria.
Last month, the International Air Transport Association (IATA) said that Nigeria is withholding an estimated $450 million in revenue belonging to foreign airlines due to forex shortages.
A major issue, which has discouraged foreign players from bringing their monies into the economy, further causing a shock in FX supply, consequently leading to the depreciation of the local currency.
In the same vein, the decline in Nigeria’s crude oil production levels has also resulted in a decline in the nation’s oil export earnings, while Nigeria is still very much dependent on importation.
The Federal Inland Revenue Service (FIRS) has announced the immediate commencement of a full scale Enforcement Exercise on defaulting taxpayers, including prosecution of the offenders across the country.
A Public Notice today, July 12, titled: “Post-VAIDS Enforcement and Prosecution Exercise,” and signed by the Executive Chairman of the FIRS, Muhammad Nami, emphasized that a full-scale Enforcement Exercise, including prosecution is to commence immediately on defaulting taxpayers who did not take advantage of the Scheme (VAIDS).
Muhammad Nami, who doubles as the Chairman JTB, the tax bodies, said: “the Joint Tax Board (JTB) in conjunction with the Federal Inland Revenue Service (FIRS), is embarking on a full scale Enforcement Exercise, including prosecution of those defaulting taxable persons who did not take advantage of the Scheme.
“The defaulting Taxpayers will be assessed to tax in accordance with the relevant provisions of the Tax Laws.”
The notice said that taxpayers who had outstanding tax liabilities which had previously been declared under the Scheme, are encouraged to pay up their outstanding liabilities immediately to avoid having the reliefs granted by the Scheme withdrawn.
It recalled that the Voluntary Assets and Income Declaration Scheme (VAIDS), Executive Order No. 004 of 2017, provide an opportunity for taxpayers who were in default of tax liabilities to voluntarily declare their assets and income, and pay taxes due on them, and in return obtain amnesty from prosecution among other benefits for a 12 month period from the 1st of July, 2017.
The scheme had also provided that upon taking advantage of the amnesty, tax reliefs such as immunity from prosecution for tax offences, immunity from tax audit, waiver of interest, waiver of penalties and the option of spreading payment of outstanding liabilities over a maximum period of three (3) years would be available.
The Executive Order had however stated that the consequence of failure to comply with the scheme would be met with liabilities for the offending taxpayer, including liability to pay in full the principal sum, as well as to pay all penalties and interests that have arisen.
This also included a comprehensive tax audit for the taxpayer and withdrawal of reliefs granted.
This Post-VAIDS Enforcement and Prosecution Exercise is coming on the heels of a Post-VAIDS Stakeholders’ Webinar held on 6th June, 2022 and organised by the FIRS.
During the Webinar the Service used the opportunity to explain to stakeholders including consultants and taxpayers the background and successes of the scheme.
Muhammad Nami, during the webinar noted that data from the National Bureau of Statistics showed that over 68 million businesses were active in Nigeria, while less than 20 million of these were active taxpayers.
He said that this gap in compliance needed to be bridged through enforcement of compliance, and that the Post-VAIDS activities were an avenue for businesses and individuals to voluntarily declare their assets and income, and register to pay tax or face full enforcement action by the Service.
Leader of Pan-Yoruba group, Afenifere, Ayo Adebanjo, has made it clear that he would not vote for the Presidential candidate of the ruling All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, but would go totally for the Presidential candidate of the Labour Party (LP), Peter Obi, in the 2023 elections.
Adebanjo, who spoke today, July 12 on an online radio programme, Yoruba Gbode, said that Peter Obi could “rule independently” and that he has lost confidence in the other two presidential candidates; Bola Tinubu and Atiku Abubakar, candidate of the Peoples Democratic Party (PDP).
“It is only Peter Obi that can rule independently without the influence of these criminals in the government. Tinubu will only give continuity to Buhari’s incompetence.
“We know Peter Obi very well, that’s why we endorsed him. He will not disappoint Nigerians, let’s put tribal differences apart and vote the right leader in.”
The Catholic Bishop of Sokoto Diocese, Bishop Mathew Kukah, has advised Christians in the country not to lose sleep over the Muslim –Muslim Presidential ticket in the ruling All Progressives Congress (APC), as Asiwaju Bola Ahmed Tinubu, a Muslim, picked Kashim Shettima, another Muslim as running mate in the 2023 election.
Bishop Kukah, who reacted to the development, said that Tinubu’s choice is simply what he called team selection and that it is not something people should be losing sleep over.
“This is what you call team selection and everybody will choose depending on what they think will give them a fair chance. So people will take responsibility for the choices they have made. For me, it is not something to lose sleep over.”
According to him, if people felt unhappy with the kind of choices that had been made, they had a choice as this is democracy.
“If people feel unhappy with the kind of choices that have been made, that is why we are democrats, you can’t force it. We outsiders cannot force a choice of any candidate.
“It is now left for you to look at the choices that have been made. And there is no guarantee that all Christians will vote for Christians and all Muslims will vote for Muslims.”
President Muhammadu Buhari has called on Academic Staff Union of Universities {ASUU) to reconsider their position on the prolonged strike, warning that the strike will have generational consequences on families, the educational system and future development of the country.
The President, who received some governors of the All Progressives Congress (APC), legislators and political leaders at his residence in Daura, Katsina State today, July 11, said that the strike had already taken a toll on the psychology of parents, students and other stakeholders, throwing up many moral issues that already beg for attention.
President Buhari noted that the future of the country rests on the quality of educational institutions and education, while assuring that the government understands their position, and negotiations should continue, with students in lecture halls.
“We hope that ASUU will sympathise with the people on the prolonged strike. Truly, enough is enough for keeping students at home. Don’t hurt the next generation for goodness sake.”
The President called on all well meaning Nigerians, particularly those close to the leaders and members of the association, to intervene in persuading the lecturers to reconsider their position, and the ripple effect on an entire generation and the nation.
He said that students from Nigerian universities will be faced with the challenge of competing with others in a highly connected and technology-driven work space, and that keeping them at home will only deprive them of time, skill and opportunities to be relevant on the global stage.
“Colonial type education was geared towards producing workers in government. Those jobs are no longer there. Our young people should get education to prepare them for self-employment. Now education is for the sake of education.
“Through technology we are much more efficient. We should encourage our children to get education, not only to look for government jobs.”
President Buhari said that resources should be channeled more into building infrastructure and operations of the health and educational sector, not to expand the bureaucracy to create job opportunities.
APC Governors at the lunch with the President were Aminu Bello Masari of Katsina State, Malam Nasir el-Rufai of Kaduna State, Hope Uzodinma of Imo State, Abdullahi Sule of Nasarawa State, Abubakar Sani Bello of Niger State, Abdullahi Umar Ganduje of Kano State, Dr. Fayemi Kayode of Ekiti State, Simon Lalong of Plateau State and Abubakar Atiku Bagudu. Of Kebbi State.
The Central Bank of Nigeria (CBN) has issued an exposure draft for the digital financial services awareness guidelines to address gaps in consumer knowledge and practices with Digital Financial Services (DFS).
This is coming against the background of the Council of the European Union (EU) and European Parliament’s provisional agreement on proposals to regulate EU markets in crypto assets (MiCA), including stablecoin and unbacked crypto asset issuers. It includes trading venues and wallets and introduction of consumer protection measures and standards for stablecoins.
The CBN, in a circular titled: “Digital financial services awareness guidelines” on its website, said that the rules are to establish a set of principles and expectations for financial service providers to incorporate in the provision of DFS in order to promote consumer knowledge, good treatment, and positive outcomes.
According to the CBN, “DFS have the potential to expand access to financial services for the Nigerian population and spur innovation in the financial services industry.
The guidelines provide for a set of principles and expectations for financial service providers to integrate in the provision of DFS to ensure consumer understanding, good treatment, and positive outcomes.”
It said that the provisions of the guidelines would apply to institutions providing DFS, including Deposit Money Banks, merchant banks, Other Financial Institutions, Payment Service Banks, and other payment service institutions as licensed by the CBN.
The CBN listed the objectives of the guidelines which include; “digital financial literacy standards for digital financial services providers; to align product development, promotion, and consumer awareness to DFS among DFSP; to enhance transparency and proper disclosure on DFS; to provide for the development of financial literacy and consumer education materials on DFS.
Others are to ensure evidence-driven DFL approach; integrate DFL in existing financial education programmes; to drive targeted DFL approach to the underserved population; and to provide standard for the promotion of DFL.
The apex bank said that DFSs must promote DFS awareness and education, give information that allows customers to differentiate DFS products from traditional banking goods and services, and ensure easy access to information on all product offers so that consumers may make educated decisions.
Ppart of the responsibility is providing product information in simple English and local languages, doing outreach to underprivileged communities about DFS alternatives accessible to them, and providing information on product usage and how to obtain support services when needed.
President Muhammadu Buhari has expressed his eagerness to finish his two term tenure next year, 2023 and go back to his house in Daura. He added that he has a beautiful house in Kaduna but would prefer to retire to his house in Daura because Kaduna is too close to Abuja.
“In ten to eleven months’ time, I will come here (Daura). I have a better house in Kaduna, but it is too close to Abuja.”
The President spoke today, July 11, when he played host to some governors under the umbrella of the ruling All Progressives Congress (APC), who paid him a Sallah homage at his country home, Daura in Katsina State.
H said: “I am eager to go. I can tell you it has been tough. I am grateful to God that people appreciate the personal sacrifices we have been making.
“By this time next year, I would have made the most out of the two terms, and the remaining months I will do my best.”
The President told the governors and political leaders that he had not been to his house in Daura for close to a year due to the demands of office.
“The observation that I abandoned my base was made by the Emir of Daura, Dr Faruk Umar Faruk, at the eid prayer ground. He held the microphone and told everyone that the last time I was in Daura was during the Eid-el-Kabir of 2021.”
The President said that the schedule of work is much, saying that he recently had to sympathise with the Minister of Foreign Affairs, Geoffrey Onyema, who had to be away most of the time from his family.
The Presidency has detailed the achievements in all fronts, of the President Muhammadu Buhari’s government, against an Editorial by Daily Trust newspaper that implied that Buhari had not done anything.
Senior Special Assistant on media and publicity to the
Shehu Garba
President, Malam Garba Shehu, in a statement today, July 11, acknowledged however that the authors of the editorial are correct that Nigeria, like every other country in the world, is undergoing a period of hardship, but that to suggest that Buhari is not leaving Nigeria in a better place than he found it, especially on the key pillars of the economy, security and corruption, “is pure fantasy.”
Garba Shehu said that the facts speak for themselves, adding that on security, as recently as 2015 Boko Haram held territory the size of Belgium in Nigeria but that today, they hold no Nigerian territory to speak of.
“In March, our military eliminated the leader of ISWAP in an airstrike using U.S. jets and British intelligence – testament to the newfound trust our allies hold in our administration, not enjoyed by previous administrations.
“Moreover, our administration is the only in Nigeria’s history to implement a solution to the herder-farmer conflicts through our landmark National Livestock Transformation Plan. Already, where ranches have been established under that initiative, we are seeing a sharp reduction in disputes.
“It is therefore incorrect to say nothing has changed, not to talk of getting worse. “Even around the Daily Trust, things have improved. Seven years is a long time and their new managers may be unaware that in 2015, The Daily Trust needed barriers around their premises and heavy security- as did many other sensitive institutions- to be safe from terrorists. Now, they have all that removed, a clear indication that the threats, as they existed at that time have abated.
“On corruption, this administration has seen hundreds of millions in stolen funds returned from abroad and used as social and welfare funds distributed directly to the poorest during the Covid-19 pandemic and the provision of long-delayed infrastructure-roads, bridges, rail, and power. This is a direct result of Buhari administration’s initiatives such as our whistleblowing policy which empowers and emboldens Nigerians to report corruption without fear.
“Moreover, it again demonstrates the newfound trust our international partners have in Nigeria, thanks to the efforts of our administration. Those same partners refused to return stolen monies to previous administrations for decades, knowing it would simply be stolen again.
“More importantly, what the Buhari administration has done is to place mechanisms to stop corruption from happening that include the strengthening of the office of the Auditor General, enhancing the capabilities of the anti-corruption agencies by signing into law several legislations and Executive Orders; the implementation of the Treasury Single Account, TSA, whistleblower; the implementation of public expenditure management and forensic accounting management systems and several others. “As for the economy, the unprecedented and vast infrastructure development driven by our administration has set the country on course for sustainable – and crucially, equitable economic growth – while our policies for boosting domestic production of food and energy will be key to us navigating the global cost of living crisis. “With global supply chains disrupted by the Covid-19 lockdown and the Russia Ukraine war, skyrocketing freight rates and extreme weather events causing inflation to surge all over the world, leaders are getting the beating and we expect that ours will not also be spared. “But fairness demands that we should give credit to whom it is due. President Buhari put in place a food policy, to grow what we eat and eat what we grow, that has averted the growing food security threat that is pushing nations into a conundrum.
“The President’s program has given the nation the confidence to ban rice imports, saving a daily amount USD 5 million in Forex. We have seen rice Pyramids in many states including Kebbi, FCT, Niger, Gombe and amazingly, Ekiti State.
“The country has witnessed the setting up of 54 integrated rice mills, 1,000 small scale rice mills, and 57 fertilizer plants revived or built anew in a boost to production. Nasarawa State is today competing with Niger in sugar production and Kaduna State is about to commission a steel mill. Only a performing economy can give these.
“One of the biggest mistakes that opponents of President Buhari make, is to believe in their own preconceived perceptions and propaganda about the brand of politics they believe in.
“For this President, one of the greatest investments a meaningful government can do is to better the lives of those at the lowest rung of the social ladder. This administration has more than 20 million persons benefiting from conditional cash transfers, school feeding and other social investment, SIP programs.
“In a time of global hardship, we are faced with enough challenges without inventing them where there are none. Moreover, pretending that achievements do not exist where they do helps no one. Rather, let us focus on what we have achieved so that we may build further upon those achievements to tackle the new challenges that continue to arise.
“Finally, it needs to be said that in period like this, when elections are within view, harsh and unfair criticisms are expected, especially against a leader like President Buhari with an image that is significant, in which the All Progressives Congress, APC invests heavily.”
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