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Buhari, Obasanjo, Lawan, Ayade Mourn as Wayas Dies at 80

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…  Wayas

By Jude Opara and Ubong Ukpong, Abuja and Kunle Idowu, Abeokuta

President Muhammadu Buhari has condoled with the family of former Senate President, Joseph Wayas, on the passing of the elder statesman, whose “influence and contributions to Nigeria’s democracy remain indelible.

The president’s condolence message is contained in a statement released by his Special Adviser on Media and Publicity, Mr Femi Adesina, yesterday in Abuja.

President Buhari noted the sacrifices of Wayas, who started taking up leadership responsibilities at an early age, turning a Senate President at 38, and remaining vibrant and dynamic in mentoring leaders long after he retired from politics.

The president joined the National Assembly, Government and people of Cross River, his friends and associates in mourning Wayas, believing his legacies would be approximated for posterity.

He prayed that his soul would find rest with the Lord.

Similarly, former president Olusegun Obasanjo has disclosed that the late Senate President, Dr. Joseph Wayas, lived for the welfare and security of the common man.

The late senate president died early hours of yesterday, in United Kingdom after illness at age 80.

Obasanjo, in a statement signed his Special Assistant on Media, Kehinde Akinyemi, yesterday in Abeokuta noted that Wayas would be sorely missed in view of his giant political strides.

The former president noted that Wayas contributed to the building of the Nigerian nation, starting from his birth place, Bassang, in Cross River to every nook and cranny of the country.

“Dr. Wayas was a special breed who contributed immensely to the development of the country and became a parliamentarian in the second republic.

“He was such a great patriot who had contributed his own quota to the legislative governance and overall development of Nigeria.

“He always pitched its tent with the truth. He maintained a cordial relationship with his colleagues in the Senate and well-groomed in legislative practices and procedures,” Obasanjo said.

His knowledge of practices and procedures of the senate, according to Obasanjo helped him greatly in running the affairs of the upper chamber of the parliament.

Obasanjo explained that Wayas demonstrated high level of maturity and level-headedness, saying his disposition towards effective nation building remained unparalleled.

“He lived for the welfare and security of the common man. His passion about a better and safer society was exceptional.

“His steadfastness, commitment to the cause of one Nigeria and optimistic spirit towards national development will continue to inspire us both now and in the future,” he said.

The former president described the death as painful and commiserated with his family, Gov. Benedict Ayade, the entire people of Cross River and all associates of the late statesman.

Obasanjo prayed the Almighty God to grant the late leader a place among the righteous ones in paradise.

“May God also grant members of his immediate family the people and government of Cross River, the fortitude to bear this irreparable loss,” he said.

Also yesterday, Speaker of the House of Representatives, Rep. Femi Gbajabiamila, expressed sadness over the demise of a former President of the Senate, Dr Joseph Wayas.

Wayas, who served as the third President of the Senate from 1979 to 1983 died in a London hospital yesterday at the age of 80.

A statement in Abuja, yesterday by his Special Adviser on Media and Publicity, Lanre Lasisi, Gbajabiamila, while condoling the government and people of Cross River State over the loss of the elder statesman, noted that his contributions to the deepening of democracy in the country could not be overemphasized.

While praying for the repose of the soul of the elder statesman, the Speaker enjoined the family, friends and the people of Cross River State to take solace in the fact that the ex-President of the Senate, a founding member of the defunct All People’s Party (APP), contributed his part to the political development of Nigeria.

He Served Nigeria with Dedication, Integrity – Lawan

President of the Senate, Dr. Ahmad Lawan, has condoled with the family of former Senate President, Joseph Wayas, who died on Dec. 2.

Lawan in a condolence message issued by his Special Adviser on Media, Mr Ola Awoniyi, in Abuja yesterday, described the death of Wayas as a great loss for Nigeria.

He commiserated with the family of Wayas, Government and People of Cross River, friends and political associates of the late elder statesman.

“Sen. Joseph Wayas was a great lawmaker and political leader who served his country and people with dedication and integrity.

“As the President of the Senate in the Second Republic, Sen. Wayas led the upper chamber with competence and passion, he was a great symbol of his political era.

“Sen. Wayas continued to contribute to nation-building, democracy and socio-economic development of Nigeria even after he left public office in 1983.

“He played a significant role as Deputy Chairman of the 1994-95 National Constitutional Conference and took part in many other national assignments.

“Nigeria will sorely miss his wealth of experience,” Lawan said

He prayed to God to grant the late Wayas’ gentle soul a sweet repose and to his loved ones, the fortitude to bear his loss.

 Also yesterday, Cross River Governor, Ben Ayade of Cross River expressed regret at the death of Second Republic Senate President, Dr Joseph Wayas.

He described the death as “a monumental loss” to Cross River in particular and to Nigeria in general.

Wayas died in the early hours of Tuesday at a London hospital at the age of 80 years. He was born on May 21, 1941.

He was Nigeria’s senate president in the Second Republic between 1979 and 1983.

Gov. Ayade’s Special Adviser on Media and Publicity, Mr Christian Ita, said in a statement that the governor remarked that Wayas left indelible footprints on the sands of time.

“As a state, Cross River is in pains as we mourn the passing of our illustrious son. He was a rare gem. The demise of Dr Wayas is indeed a monumental loss to our dear state and Nigeria.

“As Senate President, Dr Wayas contributed to the deepening of Nigeria’s democratic ethos through his robust and vibrant leadership.

“Since his retirement from active politics, the former senate president had been playing a fatherly and stabilising role in the politics and affairs of our state,’’ the statement read.

Ayade condoled with the Wayas family, assuring that his demise was a collective loss and the pains a shared one.

“We are with you in this moment of grief. We have you in our hearts and prayers,’’ the government assured the deceased family.

Wayas Was Bridge Builder, Lover of Masses – Group

A civil liberty group, Peace Action Transformation (PACT), yesterday, described the late former Senate President, Dr Joseph Wayas, as a bridge builder and lover of masses.

Wayas, who was senate president between 1979 and 1983, died in the early hours of yesterday at a London hospital, at the age of 80.

National Coordination of PACT, Mr Adegboyega Adeniji, the told NAN that Wayas would be remembered for standing on the side of the people when he led the senate.

Adeniji said: “We thank God for his life. He lived a fulfilled life as a Nigerian, being able to occupy the number three position in the Second Republic.

“He was a gentle man and very accommodating during his time. He was a bridge builder and throughout his tenure as senate president, there was peace.

“He was always on the side of the people and never pampered the executive.”

The national coordinator added that the office of the leader of the legislature was properly handled and distinct from the position of the executive during Wayas’ leadership.

This, according to him, is lacking nowadays.

“The greatest disservice to this nation is the inability of our legislature to represent the interest of the people.

“The executive arm can decide to do as it likes but the lawmakers, who are carrying the mandates of a particular segment of the nation before coming to the National Assembly collectively to aggregate our views, should stand by the people.

“The legislators nowadays are doing lots of disservice to the Nigerian people by hobnobbing with the executives at the detriment of the people,” he added.

Adeniji called on the present crop of political leaders to always strive to serve the people and bequeath a sustainable development for the humanity.

He said called on those aspiring to be in the legislature in the next dispensation to learn from the late senate president.

The national coordinator said that the legislature should always stand on the side of the people and shun any tendency to neglect those they were supposed to represent.

“The lesson is for in-coming legislators to appreciate that the essence is life is service to humanity and they must be able to conquer selfishness in order to achieve this.

Wayas, who was also the Deputy Chairman of the 1994 National Constitutional Conference, was a multi-linguistic, as he could speak Hausa, Igbo and Yoruba languages fluently. 

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Federation Account Garners N7trn Revenue in Six Months – RMAFC

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By Tony Obiechina, Abuja

Revenue Mobilization Allocation and Fiscal Commission (RMAFC) yesterday disclosed that a total sum of N7.31 trillion accrued to the Federation Account between July and Dec. 2023.This was captured in the monthly report to the Federation Account Allocation Committee (FAAC) by the Central Bank of Nigeria (CBN) under the caption “CBN Federation Account Component Statement”.

This amount is higher than the sum of N5.
244 trillion realised in the first half of year 2023, according to a statement signed by the RMAFC Chairman, Mr. Mohammed Bello Shehu and made available to the media in Abuja.The chairman disclosed that out of the total gross revenue inflows into the Federation Account, the sum of N1,692 trillion was transferred to the Exchange Gain Differential Account, thus leaving a balance of N5.
475 billion for distribution.He added that from the amount stated above, the sum of N3.26 trillion was deducted as approved statutory deductions by the OAGF, leaving a net balance of N2.2 trillion for distribution to the three tiers of government within the period under review.The chairman explained that out of the N3.267 trillion statutory deduction indicated above, N2.251 trillion was transferred to the Non-Oil Excess Account as savings, thus leaving a net statutory deduction of N1.016 trillion with further augmentations for sharing among the three tiers of government received from some “reserve accounts.”The statement added that within the period under review, the net sum of N4 trillion was shared with the three tiers of government, an amount higher than the total sum of N3.06 trillion.In terms of percentages, the chairman stressed that “the statutory deduction in the second half of the year constituted 44.12 percent of the total gross inflow into the Federation Account in the six-month period, which was higher than the first half deductions of 42.31 percent (inclusive of transfer to the Non-Oil Excess Account).”On remittances by Revenue Generating Agencies (RGAs), the RMAFC chairman disclosed that out of the total gross revenue inflows into the Federation Account, the Nigerian National Petroleum Company Limited (NNPCL) remitted N874 64 billion in the second half of the year as against the zero-remittance made in the first half of the year.Similarly, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) remitted the sum of N1.56 trillion while the Federal Inland Revenue Service (FIRS) remitted N3.65 trillion

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PDP NEC Meeting Ends with Damagum as Acting Chairman

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By Johnson Eyiangho, Abuja

Peoples Democratic Party (PDP) 98th National Executive Committee (NEC) meeting yesterday ended without a word on the much talked-about replacement of the party’s Acting National Chairman, Amb. Iliya Damagum, an indication that he will continue to function in that position.

In an interview with newsmen after the meeting, the PDP spokesman, Hon.
Debo Ologunagba said for now, the party is focusing on issues of reconciliation and its stability, adding that the issue of the Acting National Chairmanship had been “deferred to the next NEC meeting, which is tentatively scheduled for August 15, 2024″.
Also speaking, the Governor of Bauchi State and Chairman of the PDP Governors’ Forum, Bala Mohammed said the party is united as there was no dissension and rancour.
In his words, “It was planned that the party would have an implosion. PDP is more than that. We have gone beyond all that. This party is united, guided by experience and constitutionality.”There were a lot of permutations and mischievous thinking outside there. But we looked at all the issues and we worked along our guidelines and constitution.“There is no problem or dissension and problem among members,” Mohammed said.The well attended NEC meeting was held amid tight security as police and personnel of the Department of State Services (DSS) condoned off roads leading to the PDP Secretariat, Abuja and diverted vehicular traffic.It will be recalled that the PDP National Working Committee (NWC) had passed a vote of confidence on Damagum during its meeting on Tuesday.A communique issued at the end of the three hours meeting commended all the organs of the party for their collective resilience, steadfastness and commitment towards the unity, stability and sustenance the party despite daunting challenges.The communique commended the efforts of the NWC in its effort towards rebranding the party and urged all party members to continue to work together for the success of the PDP for the benefit of Nigerians and sustenance of democracy in our country.

The document which was read by the PDP National Publicity Secretary, Ologunagba, however, expressed concern over what it described as the ill-implemented policies of the APC administration, leading to worsening insecurity, harrowing economic hardship, soaring unemployment rate, high cost of food and other necessities of life with pervading misery and despondency across the country.”NEC expresses serious apprehension over the spate of acts of terrorism and violence including the escalated cases of mindless killings, mass abduction of innocent Nigerians and marauding of communities in various parts of the country.”NEC condemns the insensitivity, nonchalance, incompetence and arrogance in failure of the APC administration which continues to conduct itself in a manner that shows that it has no iota of interest or commitment towards the wellbeing of Nigerians.”NEC also condemns the creeping totalitarianism and tendencies towards a One-Party State which is inimical to the peace, stability and corporate existence of our nation as well as the development of Democracy and good governance in the country,” it said.The communique demanded that President Bola Tinubu should urgently convene a special National Security Council meeting to proffer a holistic solution and measures to curb the disturbing insecurity with its attendant negative consequences on the nation.It also called on the president to “immediately rejig his Economic Team to bring in persons of proven integrity and competence without bias and vested interest to assist in repositioning the economy.”NEC further demands that the Federal Government should review all policies and programmes which are stifling the economy with suffocating effect on the lives of citizens; including the increase in price of fuel without cushioning measures, hike in electricity tariff, increased taxation and implementation of adverse fiscal policies,” the communique added.Present at the meeting were FCT Minister Nyesom Wike, former Vice President Atiku Abubakar and many other past and presently elected members of the PDP.

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CBN Reduces Banks’ Lending Rate to 50 Percent

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By Tony Obiechina, Abuja

Central Bank of Nigeria (CBN) yesterday announced a review of the loan-to-deposit ratio (LDR) for banks from 65 percent to 50 percent to align with the current monetary tightening.

LDR is used to assess a bank’s liquidity by comparing its total loans to its total deposits.

An increase in the loan-to-deposit ratio allows banks to expand their credits to businesses and individuals, however, a decline in LDR reduces their ability to loan customers from depositors’ funds.

CBN disclosed the increase in a circular titled “Re: Regulatory Measures to Improve Lending to the Sector of the Nigerian Economy”, signed by Adetona Adedeji, CBN Acting Director, Banking Supervision Department.

“Following a shift in the b  ank’s policy stance towards a more contractionary approach, it is imperative to review the loan-to-deposit ratio (LDR) policy to align with the current monetary tightening by the CBN,” the apex bank said.

“Accordingly, the CBN has decided to reduce the LDR by 15 percentage points to 50%, in a similar proportion to the increase in the CRR rate for banks.

“All DMBs are required to maintain this level and are further advised that average daily figures shall continue to be applied to assess compliance.”At the last monetary policy committee (MPC) meeting on March 26, the CBN retained the CRR at 45 percent and the liquidity rate at 30 percent.

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