COVER
FG Returns £4.2m Ibori Loot to Delta
By Martin Paul and Tony Obiechina, Abuja
The Federal Government has handed over the £4.2 million looted by a former Governor of Delta State, James Ibori, to the Delta state government.
The step, which was taken yesterday came as the Nigerian Press Organisation (NPO) enjoined the Federal Government on power devolution to component unit in the country.
NPO consist of the Newspaper Proprietors’ Association of Nigeria (NPAN), the Nigerian Guild of Editors (NGE) and the Nigeria Union of Journalists (NUJ).
Accountant General of the Federation, Mr Ahmed Idris, disclosed that the £4.2 million looted by a former Governor of Delta State, James Ibori, and repatriated to Nigeria from the United Kingdom recently, had been returned to the state.
Idris disclosed this in Abuja, when he appeared before the House of Representatives’ Ad-hoc Committee on Assessment and Status of All Recovered Loot, Movable and Immovable Assets from 2002 to 2020 by Agencies of the Federal Government of Nigeria for Effective, Efficient Management and Utilisation.
Idris, who was reportedly grilled by the committee for over an hour, stated that such funds looted from the treasury of a state were always returned to the state.
He added that states could sue the Federal Government to recover such funds, if it was not returned.
The NPO, arising from it meeting with the theme: “State of the Nation”, make the following deposition of “High Cost of Governance, Devolution of Powers/Restructuring, Petroleum Subsidy Removal and Accumulation of Foreign Debt, among others”.
“We, leaders of the media and major stakeholders in the Nigeria Project, given the responsibility imposed on us by Section 22 of the 1999 Constitution, as amended, state as follows:
“That we believe in the oneness of Nigeria and that its population of about 200 million people, if resources are well managed, have innumerable advantages – both in economic and soft power, and that this should not be sacrificed on the altar of ethnic or tribal chauvinism.
“That one of the triggers for the current socio-political, economic, and security challenges in the country is high cost of governance, reflected in the outrageous allowances and flamboyant lifestyles of our political leaders. These leaders, rather erroneously, misconstrue public service for primitive accumulation of wealth, instead of its being a platform for galvanising development and satisfying the collective aspiration of our people for quality life in a safe and secure environment. One of the consequences of this ostentatious lifestyle is the new craze among a growing number of youths that the end justifies the means in their quest for easy wealth.
“That in a Federal system of government, particularly in a country like Nigeria which is diverse in ethnicity, culture, and religion, an overbearing centre is counter productive to the development of the centre itself and the component units. To leave the Federal Government with 68 items under the Exclusive Legislative List, including policing, is a recipe for unending destructive tension in the struggle for advantage among the federating units. It explains why our country is seemingly overwhelmed by non-state actors engaged in criminality and separatist agitations.
In the light of these, NPO urged the Federal Government to “immediately take steps at devolving powers to the component units by implementing the El Rufai Committee Report, which among others, recommends State Policing, in addition to other far reaching adjustments to the structure of governance. The continued delay to implement the report after its recommendations have been approved by all the organs of the ruling All Progressives Party, in line with the manifesto for which the party sold itself to win the 2015 election is self-defeating. We hold that its implementation will curb the galloping rate of criminality, reduce tension across the country, and reset the botton of development.
“Implement the Orosanye Report, which provides a veritable road map for arresting the unsustainable high cost of governance. A reduced cost of gevernance will free substantial funds to fight insecurity, provide social safety nets for the generality of the people, fund developmental projects, and stem the current penchant for external and local borrowing by government.
“Put pressure on the National Assembly to pass the Petroleum Industry Bill, (PIB), which has gone into our history as the longest bill to ever go through legislative processes. It is of common knowledge that the petroleum industry has been long overdue for an overhaul and the passage of the bill will be a major boost. That the bill has stayed this long in the National Assembly militates against improved corporate governance in the oil sector.
“There is a need to avoid the debt overhang inherent in excessive borrowing. We are aware that borrowing is good so long as such loans are deployed to funding enduring development projects, within the GDP ratio. However, the current borrowing in the face of the slide in the value of the country’s number one revenue earner-oil remains worrisome.
“We appeal to politicians and state actors to minimise their inflammatory rhetoric in order to reduce tension and ease the growing sense of fear among the people”.
The communiqué was signed by Kabiru A. Yusuf; President, Newspaper Proprietors’ Association of Nigeria (Npan); President
Nigerian Press Organisation (Npo) Mustapha Isa, President, Nigerian Guild of Editors (Nge) and Chris Isiguzo, President
Nigeria Union of Journalists (NUJ)
By David Torough, Abuja
Zenith Bank Plc has assured its teeming customers of exceptional service delivery and improved customer experience following the successful completion of its Information Technology Infrastructure Upgrade.
The Group Managing Director/Chief Executive of the bank, Dr.
Adaora Umeoji in a statement expressed her immense gratitude to all customers of the bank for their patience and support during its recent IT infrastructure migration to a new and more robust operating system.Umeoji emphasized that the bank was committed to delivering unparalleled service experience, saying “We undertook such an extensive endeavor in other to better position Zenith Bank Plc for improved service delivery to all our valued customers and provide memorable banking experiences at all our touchpoints,” adding that the bank now has one of the best technology infrastructure in the Nigerian banking industry, and is well positioned to ensure customers experience exceptional service delivery going forward.
Zenith Bank has continued to distinguish itself in the Nigerian financial services industry through superior service offering, unique customer experience and sound financial indices.
The bank has remained a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions.
The bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the 15th consecutive year in the 2024 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020 and 2022; and Most Sustainable Bank, Nigeria 2023 and 2024 in the International Banker Banking Awards.
Further recognitions include being recognised as Best Bank in Nigeria for the fourth time in five years, from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks Awards; Best Commercial Bank, Nigeria for four consecutive years from 2021 to 2024 in the World Finance Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for three consecutive years, from 2022 to 2024, ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.
The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021; Bank of the Year for 2023 and 2024, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. The Bank also received the accolades of Best Commercial Bank, Nigeria and Best
Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards, Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.
By David Torough, Abuja
The death of the Chief of Army Staff (COAS), Lt. General Taoreed Lagbaja has thrown the nation into mourning, casting a heavy pall over official functions at the Presidency and the security services.
The Presidency yesterday announced Lagbaja’s death following what many attributed to his protracted battle with cancer.
A statement by presidential spokesman, Bayo Onanuga, said Lagbaja, 56, died on Tuesday night in Lagos, “after a period of illness”
“President Bola Tinubu expresses his heartfelt condolences to the family and the Nigerian Armed Forces during this difficult time.
He wishes Lt. General Lagbaja eternal peace and honours his significant contributions to the nation,” the statement read.According to the statement, Lagbaja, who was appointed Chief of Army Staff on June 19, 2023, demonstrated exceptional leadership and commitment throughout his service.
He had previously served as a platoon commander in the 93 Battalion and the 72 Special Forces Battalion among other sensitive positions.
Incidentally, President Tinubu had, last weekend Wednesday, appointed Major General Olufemi Oluyede as the acting Chief of Army Staff, to stand in for Lagbaja who had been away on medical treatment.
The President had, last Tuesday, gone ahead to decorate Oluyede as Lieutenant General, deepening speculations that Lagbaja was not being expected back anytime soon.
Following the death of the late COAS, the Presidency postponed the weekly Federal Executive Council (FEC) meeting scheduled for yesterday in honour of the fallen COAS.
The President also directed that Nigeria’s national flags be flown at half-mast across the country for seven days.
The Ministry of Defence (MOD) was also caught in the sombre atmosphere. A joint statement mourning the demise of the COAS was issued by Minister of Defence, Mohammed Abubakar; Minister of State for Defence, Bello Matawalle; and the ministry’s Permanent Secretary, Ibrahim Kana.
The MOD expressed shock over the sad news recalling Lagbaja’s contribution to the Army and his dedication to duty.
The statement said, “He exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.
“The late Chief of Army Staff contributed in no small measure to the internal security operations across Nigeria and also exhibited a high level of professionalism.
“He will be greatly missed by the family, the military and the nation as he served the nation with commitment and dedication.”
Similarly, there was palpable grief at the Defence Headquarters over the loss with the leadership expressing deep sorrow of the development.
It noted that the COAS, until his death, demonstrated exemplary leadership. He was credited with spearheading the establishment of the Nigerian Army Aviation Wing and also playing critical roles in multiple military operations across the country.
On its part, the Nigeria Police Force announced the cancellation of all non-essential personal and social engagements for two days. The Force also suspended non-urgent commitments in honour of the late COAS.
In a statement by Force spokesman, Olumuyiwa Adejobi, the police authorities described Lagbaja as a highly respected figure, known for his tireless efforts in combating insurgency, armed banditry, and violent extremism.
“His dedication to the Nigerian Army and the nation earned him great admiration. The Inspector-General’s gesture reflects the deep respect and appreciation for General Lagbaja’s remarkable service.
“The Nigeria Police Force extends its heartfelt condolences to Mr President and Commander-in-Chief of the Armed Forces of Nigeria, President Bola Ahmed Tinubu, and General Lagbaja’s family, colleagues, and loved ones during this difficult time. His legacy and commitment to Nigeria’s security will never be forgotten,” the statement said.
President Bola Tinubu and Alhaji Atiku Abubakar yesterday joined other leaders across the globe in congratulating America’s President-elect, Donald Trump.
The world leaders sent their congratulatory messages hours before Vice President Kamala Harris conceded defeat to Trump.
Tinubu expressed his eagerness to strengthen the ties between Nigeria and the United States amid the complex challenges and opportunities of the contemporary world.
The Nigerian President’s message was conveyed through a statement yesterday by his spokesman, Bayo Onanuga.
Tinubu said, “Together, we can foster economic cooperation, promote peace, and address global challenges that affect our citizens.
”According to him, Trump’s victory reflects the trust and confidence the American people have placed in his leadership.
The Nigerian leader congratulated the American electorate on their commitment to democracy.
“President Tinubu believes that, given President Trump’s experience as the 45th President of the United States from 2017 to 2021, his return to the White House as the 47th President will usher in an era of earnest, beneficial, and reciprocal economic and development partnerships between Africa and the United States,” the statement said.
Tinubu also acknowledged the United States’ influence, power, and position in determining the trend and course of global events, trusting that President Trump will bring the world closer to peace and prosperity.
Atiku, in his message, described Trump’s victory as “a lesson in the art of rising after every fall,” apparently seeing possibilities of his own victory in future elections amid a string of past losses.
Atiku, who contested in the 2023 presidential election on the platform of the Peoples Democratic Party (PDP), lost to Tinubu and his All Progressives Congress (APC).
He has recorded a string of losses in previous election cycles on different political party platforms.
Atiku commended the process that led to the outcome of the US presidential election, hailing the American citizens for their unwavering faith in the power of democracy and the sanctity of the ballot.
He appealed to Trump to stand resolute in ensuring free and fair elections in Nigeria and the world in general.
“I closely followed the presidential election in the United States of America, watching with bated breath as the nation decided its future.
“It is with even greater satisfaction that I now reflect on the result, which heralds a resounding victory for President Donald J. Trump and the Republican Party.
“This triumph, without a doubt, will stand as an enduring testament to the resilience and vitality of the democratic process – a timeless reminder that democracy, with all its trials and tribulations, remains a force for good in the world.
“The narrative of President Trump’s political journey, marked by his struggles and triumphs, shall serve as an inspiring parable of courage in the face of adversity — a lesson in the art of rising after every fall, and ultimately, emerging victorious.
“As the world rejoices in the euphoria of his remarkable comeback, it is to be hoped that President Trump will continue his resolute advocacy for credible elections worldwide and remain steadfast in dismantling anti-democratic forces wherever they may lurk.
“The lesson for us in Nigeria is the integrity of the process that ensures a credible outcome. It is the expectation of every Nigerian that the Trump administration will stand resolute in ensuring free and fair elections in Nigeria and other places in the world.
“I also extend my warm congratulations to the people of the United States, whose unwavering faith in the power of democracy and the sanctity of the ballot has once again shown the world the true might of the people’s voice”, he said.
Meanwhile the US Vice President, Kamala Harris, has called Trump to congratulate him on winning the presidential election.
Associated Press (AP) report quoted a campaign aide of Harris’ as having had a discussion with Trump on the importance of a peaceful transfer of power and being a president for all Americans.
Harris was billed to make a public concession speech later Wednesday night, which would be her first appearance since she lost the election to Trump.
Further report said she would be delivering her speech at Howard University, Washington DC.
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