COVER
2023 Elections: Buhari Mocks Opposition for Overconfidence
By Mathew Dadiya, Abuja
President Muhammadu Buhari, yesterday declared that while the All Progressive Congress (APC) was working hard to retain power in the recent elections, the combined opposition was a victim of overconfidence- the main reason why he believed they lost.
He stated this at the State House in Abuja, yesterday when he received the Progressive Governors Forum, led by their Chairman, Governor Abubakar Atiku Bagudu of Kebbi State.
“They were already telling their foreign backers that they would defeat the APC. Our Party blended confidence with caution, we worked hard and won. Now, their overconfidence is creating more problems for the opposition than anyone else.
They are finding it hard to convince those who supported them from the outside why they are unable to beat us.“A combination of overconfidence, complacency, and bad tactical moves made them lose, plain and clear. This has created more problems in their camp. Why did they fail to remove us?” President Buhari said.
Speaking in response to an issue raised by Governor Bagudu, the leader of the Forum, Buhari said “An important reason I congratulate Asiwaju on winning is that the opposition got support and false hope from outside and went on to create the impression that they will win, that they will defeat us. How more wrong could anyone be?” he asked.
The President charged the Progressive Governors to stick together and openly address issues among themselves.
“Try and keep solving problems. Be courageous to discuss them openly between yourselves. This is the best way to survive politically in Nigeria,” said the President, urging that “you (Governors) have a program to meet regularly and to discuss issues and how to maintain the Party nationwide.”
Buhari spoke at length about his retirement proposal, saying that he intended to be at home in Daura for six months before moving eventually to Kaduna.
He thanked Governor Nasir El-Rufai of Kaduna State for the infrastructure he has provided that would make a life for his retirement and that of the people of the state much better, adding that the Governor of Kano had equally done the same.
The Chairman, Atiku Bagudu said the visit was ostensibly to say “Happy Sallah” to the President and to thank him for the leadership he had given to the Party and the nation.
This being their first visit since the elections, they congratulated the President on the Party’s victory in the Presidential Polls, saying, “Congratulations, your Party won the Presidency, a majority in the Senate, and for being the leading Party in the House of Representatives. These successes would not have happened without your support.
“History will remember you kindly. Around the world, the election is being celebrated because of the turbulence in the region and the developing world, all courtesy of your leadership. We won by sheer hard work, the same thing you have always encouraged us to do. We thank you immensely for everything,” he added.
The Governors in attendance in addition to Kebbi were from Plateau, Imo, Kwara, Ekiti, Kaduna, Kogi, Lagos, Cross Rivers, Jigawa, Katsina, Ogun and Nasarawa States.
The Deputy Governors of Kano, Gombe, Borno and Ebonyi were in attendance, as well as the Secretary to the Government of the Federation, Boss Mustapha.
President Boasts of Successes on Security
President Muhammadu Buhari has said the robust plan to improve the security architecture of the country had been realized, with upgrading of hardware, building of facilities, training, and equipping of staff and officers, and structuring of a welfare system that caters for more than 50,000 children of fallen heroes.
Speaking at a ceremony attended by two former leaders of the country, Head of State, Gen. Yakubu Gowon and President, Goodluck Jonathan, the President yesterday at the Eagle Square Abuja, said he instituted the recruitment of 60,000 soldiers into the Armed Forces, and thousands graduated from the Nigerian Defense Academy and other security institutions to tighten security.
Buhari presented 81 new, symbolic flags to the various units of the Nigerian Army.
“At the inception of this administration, the nation’s security situation was greatly challenged by the activities of violent non-state actors. Today, I am pleased to specially note that the situation has tremendously improved and I wish to also proudly highlight that we have made remarkable progress in the fight against insurgents, militants, oil bunkers, kidnappers, and other criminal elements in the country.
“This administration has achieved a remarkable transformation of the military in the areas of fighting power, training, operations, manpower, remunerations, and medical services. These are in addition to maintenance efficiency, accommodation, and expansion of forces. The improvements in these areas have collectively enhanced the Army’s capacity to effectively carry out its constitutional mandate,” he said.
Buhari, who endorsed 81 flags for the various units of the Army, noted that the fighting power of our military was at a low ebb as of May 2015, adding “However, 7 years later, its fighting power has increased significantly making it fourth in ranking among African militaries as against seventh in 2015.”
He said interventions and yearly budgetary allocations to the Army, between 2020 and 2022 alone, had been able to procure hundreds of Mine Resistant Ambush Protected Vehicles, Troops Carrying Vehicles, utility vehicles, tanks, and Armoured Personnel Carriers to augment those earlier procured.
“From 2017 to 2022, significant numbers of new fighting and utility vehicles along with supporting artillery guns, machine guns, rifles, and corresponding ammunition were acquired and inducted into various theatres of operations. This translates to a significant increment in the Army’s equipment holding since 2015.
“With the significant improvement in the fighting power as a result of the procurement of equipment and mission-specific training, the Army was empowered to rejig its operations. Accordingly, the Army has restructured the conduct of its operations to meet current realities.
“The quantum of platforms inducted into the Army since 2015 had enabled troops to take the battle to the terrorists and criminals, particularly in the North East resulting in the recapture of territories hitherto held by the insurgents,” the President stated.
Buhari told the gathering of top security chiefs, traditional rulers, and top government officials, who witnessed the ceremony, that creation of the Army Aviation was one of the major aspects of the ongoing expansion process in the Nigerian Army.
“The renewed vigor for the operationalization of the Army Aviation emanated from a strong desire to effectively tackle contemporary security challenges across the country. This unit, when fully operationalized, will provide rapid deployment, close air support, casualty evacuation, and prompt delivery of logistics supply, among other roles.
“As an administration, we have demonstrated commitment to increasing the strength of the Armed Forces in my resolve to secure the country’s challenges. It is instructive to state that from 2015 when I was sworn in as the President and Commander in Chief of the Armed Forces Federal Republic of Nigeria, I facilitated the recruitment of over 60,000 soldiers from Depot Nigerian Army aside from thousands commissioned from the Nigerian Defense Academy Kaduna,” Buhari said.
The President said the efforts of the Administration paid-off with records of unprecedented successes, evident in the increased number of neutralized insurgents and those that voluntarily surrendered alongside their families for deradicalization and rehabilitation through Operation Safe Corridor.
“This feat has continued to be replicated in other theatres of operation within the country leading to the resettlement of Internally Displaced Persons to their ancestral homes and restoration of economic activities in addition to the contribution of the Nigerian Army to global peace through Peace Support Operations.
“In the area of troops’ welfare, this administration has facilitated the approval of Manual for Financial Administration which has greatly enhanced the pay and allowances of troops. This has no doubt boosted troops’ morale and enhanced their zeal to discharge their constitutional mandate.
“Furthermore, in line with my resolve to cater for the families of deceased personnel, over 50,000 children and wards of personnel who died in active service are on the Nigerian Army scholarships from 2015 to date,” he stated.
On infrastructural development, the President said the administration had made determined efforts to surmount the deficit in accommodation and other amenities. As the strength of the Army increased, special interventions were made to construct new barracks accommodations and renovate the old ones.
“So far, hundreds of new blocks of accommodation were constructed and thousands of the old housing units were renovated and remodeled in various formations and units across the country between 2016 and 2022.
“Currently, massive construction works are ongoing in the new Muhammadu Buhari Barracks, Abuja, and other barracks to provide the requisite offices, houses, and facilities to cater for the increasing strength of the Army personnel,” he noted.
Buhari commended the Chief of Defence Staff, Gen Lucky Irabor, and all the other Service Chiefs and heads of all paramilitary organizations for their commitment and selfless service to this nation.
“The Nigerian Army that we celebrate today, would not have been able to discharge its responsibilities optimally including today’s Trooping and Presentation of Colors without your collaborative support,” he said.
Buhari noted that the colors he presented to the units were revered symbols of the identity of a unit, and display a regiment’s battle honors or those inherited from predecessors while playing huge roles in the operational successes of their regiments.
The President explained that the last Trooping and Presentation of Colors Parade was held in 2007, and since then new units had been established and operationalized in line with the increasing commitments of the Army.
“Additionally, existing colors have been extensively involved in multiple operations in various geo-political zones of the country as well as foreign countries, hence deserving of retirement. Today’s ceremony is a continuation of our effort to re-invigorate the fighting spirit of our troops through the inculcation of greater pride in their units.
“Let me use this medium to sincerely commend the officers and men of the Army, all members of the Armed Forces and other security agencies for their exceptional performances in the various operations across the country,” the President added.
By Mike Odiakose, Abuja
Immediate past governor of Kogi State, Yahaya Bello will spend the 2024 Christmas and 2025 New Year days in Kuje prison, Abuja, following refusal of his bail application by the Federal Capital Territory High Court.
Justice Maryann Anenih yesterday adjourned the case until Jan.
29, Feb. 25, and Feb. 27, 2025 for the continuation of the hearing.The former governor is standing trial, along with two others, in an N110 billion money laundering charge brought against him by the Economic and Financial Crimes Commission (EFCC).
Justice Anenih had refused to grant a bail application filed by Bello, saying it was filed prematurely.
The judge admitted Umar Oricha and Abdulsalam Hudu, to bail in the sum of N 300 million each with two sureties.
Justice Anenih, while delivering a ruling said, having been filed when Bello was neither in custody nor before the court, the instant application was incompetent.
“Consequently, the instant application having been filed prematurely is hereby refused,” she said.
Recalling the arguments before the court on the bail application, the judge had said, “before the court is a motion on notice, dated and filed on Nov. 22.
“The 1st Defendant seeks an order of this honourable court admitting him to bail pending the hearing and determination of the charge.
“That he became aware of the instant charge through the public summons. That he is a two-term governor of Kogi State. That if released on bail, he would not interfere with the witnesses and not jump bail.”
She said the Defendant’s Counsel, JB Daudu, SAN, had told the court that he had submitted sufficient facts to grant the bail.
He urged the court to exercise its discretion judicially and judiciously to grant the bail.
Opposing the bail application, the Prosecution Counsel, Kemi Pinheiro, SAN, argued that the instant application was grossly incompetent, having been filed before arraignment.
He said it ought to be filed after arraignment but the 1st Defendant’s Counsel disagreed, saying there was no authority
“That says that an application can only be filed when it is ripe for hearing.”
Justice Anenih held that the instant application for bail showed that it was filed several days after the 1st defendant was taken into custody.”
Citing the ACJA, the judge said the provision provided that an application for bail could be made when a defendant had been arrested, detained, arraigned or brought before the court.
Bello had filed an application for his bail on November 22 but was taken into custody on November 26 and arraigned on Nov. 27.
From Jude Dangwam, Jos
Conference of Autochthonous Ethnic Nationalities Community Development Association (CONAECDA) has called on the federal government to intensify efforts in the resettlement of displaced persons in their ancestral homes.
The organization made this call at the end of its conference held in Jos, the Plateau State Capital weekend.
Thirty resolutions were passed covering security, economy, politics, governance, culture, languages, human rights and indigenous peoples’ rights among others.
The Conference President, Samuel Achie and Secretary Suleman Sukukum in a communique noted that the conference received and discussed reports from communities based on which resolutions were reached on securing, reconstruction, rehabilitation and returning communities displaced by violence across the Middle Belt.
“After considering the reports from communities displaced by violent conflicts, conference resolved, and called on government to focus on providing security to deter further displacements.
“Call on government to provide security to enable communities to return. Government and donor partners should assist in reconstructing and returning displaced communities,” the communique stated.
The GOC 3 Armoured Division Nigeria Army represented by Lt Col Abdullahi Mohammed said the Nigerian Army is committed to working closely with communities to achieve a crime-free society, urging communities to support them with credible information.
“Security is a collective effort, and we cannot do it alone, the community plays a crucial role in ensuring safety.
“We urge everyone here not to shield or protect individuals involved in criminal activities. Transparency and collaboration, together, with maximum cooperation, we can achieve peace, security, and prosperity for our society,” the GOC stated.
The National Coordinator of CONECDA, Dr. Zuwaghu Bonat in his address at the gathering noted that the theme of this year’s program, Returning, Resettling, and Rehabilitating Displaced Communities, was chosen as a wakeup call on the federal government.
He maintained that the organization is aware that President Bola Tinubu has expressed a commitment to ensuring that displaced communities return to their ancestral lands.
He said similarly, some state governments, including Plateau State, have set up committees to address the lingering matter.
The coordinator however cautioned, “It is critical that we avoid generalizations or profiling. For instance, Not all Muslims are involved in terrorism. The overwhelming majority of Muslims in Nigeria are peaceful and reject extremist ideologies.
“We also know that some terrorists exploit religion to mobilize support or rationalize their actions. However, their atrocities – slaughtering women, cutting open pregnant mothers, and killing children show a profound disregard for humanity and God. Normal human beings would not commit such acts.
“We must also be cautious about lumping banditry with terrorism. While statistics indicate that many bandits and kidnappers may share similar ethnic backgrounds, kidnapping has now evolved into a profit-driven enterprise. This distinction is vital to address the root causes effectively,” he stated.
The Governor of Plateau State, Caleb Mutfwang represented by his Senior Special Assistant (SSA) on Middle Belt Nationalities, Hon Daniel Kwada noted that the conference was apt to addressed the various underlying issues bedeviling the region and its people.
“We in the Middle Belt have long been standing at the crossroads of Nigeria’s complex history. Despite our tireless efforts to stabilize this nation, we have faced immense challenges, including underdevelopment, security issues, and marginalization.
“Often, we are unfairly maligned, but gatherings like this offer a chance to change the narrative.
“Such conferences set the tone for better discussions. They allow us to drive processes that bring development, ensure security, and elevate our people to greater heights,” Mutfwang noted.
Securities and Exchange Commission (SEC) has called on banks to reinforce their corporate governance principles and risk management frameworks to boost investor confidence during the ongoing recapitalisation exercise.
Dr Emomotimi Agama, Director-General, SEC, said this at the yearly workshop of the Capital Market Correspondents Association of Nigeria (CAMCAN) held in Lagos.
The theme of the workshop is: “Recapitalisation: Bridging the Gap between Investors and Issuers in the Nigerian Capital Market”.
Agama, represented by the Divisional Head of Legal and Enforcement at the SEC, Mr John Achile, stated that the 2024–2026 banking sector recapitalisation framework offers clear guidance for issuers while prioritising the protection of investors’ interests
He restated the commission’s commitment towards ensuring transparency and efficiency in the recapitalisation process.
The director-general stated that the key to bridging the gap between issuers and investors remained the harnessing of innovation for inclusive growth.
In view of this, Agama said, “SEC, through the aid of digital platform, is exploring the integration of blockchain technology for secure and transparent transaction processing to redefine trust in the market.”
He added that the oversubscription of most recapitalisation offers in 2024 reflects strong investor confidence.
To sustain this momentum, the director-general said that SEC had intensified efforts to enhance disclosure standards and corporate governance practices.
According to him, expanding financial literacy campaigns and collaborating with fintech companies to provide low-entry investment options will democratise access to the capital market.
He assured stakeholders of the commission’s steadfastness in achieving its mission of creating an enabling environment for seamless and transparent capital formation.
“Our efforts are anchored on providing issuers with clear guidelines and maintaining open lines of communication with all market stakeholders, reducing bureaucratic bottlenecks through digitalisation.
“We also ensure timely review and approval of applications, and enhancing regulatory oversight to protect investors while promoting market integrity,” he added.
Agama listed constraints to the exercise to include: addressing market volatility, systemic risks, limited retail participation as well as combating skepticism among investors who demand greater transparency and accountability.
He said: “We are equally presented with opportunities which include leveraging technology to deepen financial inclusion and enhance market liquidity.
“It also involves developing innovative financial products, such as green bonds and sukuk, to attract diverse investor segments.
“The success of recapitalisation efforts depends on collaboration among regulators, issuers, and investors.”
Speaking on market infrastructure at the panel session, Achile said SEC provides oversight to every operations in the market, ranging from technology innovations to market.
He stated that the commission is committed to transparency and being mindful of the benefits and risks associated with technology adoption.
Achile noted that SEC does due diligence to all the innovative ideas that comes into the market to ensure adequate compliance with the requirements.
On the rising unclaimed dividend figure, Achile blamed the inability of investors to comply with regulatory requirements and information gap.
He noted that SEC had done everything within its powers to ensure that investors receive their dividend at the appropriate time.
He, however, assured that the commission would continue to strengthen its dual role of market regulation and investor protection to boost confidence in the market.
In her welcome address, the Chairman of CAMCAN, Mrs Chinyere Joel-Nwokeoma, said banks’ recapitalisation is not just a regulatory requirement, but an opportunity to rebuild trust, strengthen the capital market, and drive sustainable growth.
Joel-Nwokeoma stated that the recent recapitalisation in the banking sector had brought to the fore the need for a more robust and inclusive capital market.
She added that as banks seek to strengthen their balance sheets and improve their capital adequacy ratios, it is imperative to create an environment that fosters trust, transparency, and cooperation between investors and issuers.
The chairman called for collaboration to bridge the gap between investors and issuers to create a more inclusive and vibrant Nigerian capital market.She said: “we must work together to strengthen corporate governance and risk management practices in banks, enhance disclosure and transparency requirements for issuers.” NAN
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