Economy
Electoral Amendment Bill: INEC Banks on NASS to Clear Grey Areas— Yakubu
*Says New Election Timetable will be Based on the Amendment
By Jude Opara, Abuja
The Independent National Electoral Commission (INEC) on Tuesday reiterated its hope that the National Assembly will quickly address all the contentious issues raised by President Muhammadu Buhari while declining assent to the Bill.
INEC Chairman, Prof.
Yakubu equally stated that he believes that President Muhammadu Buhari will sign the Bill into law as soon as the contentious issue of Direct Primaries was removed from the document, adding that when it becomes law, the new Timetable and Schedule of Activities for the 2023 election will be based on the new law.
“On the Electoral Amendment Bill currently before the National Assembly, the Commission is encouraged by the Senate President’s assurance to give priority attention to the Bill when the National Assembly reconvenes from its recess today, and the commitment by the President to assent to the Bill as soon as the issue of mode of primaries by political parties is resolved.
“We look forward to a speedy passage of the Bill, which is crucial to our preparations for future elections. As soon as it is signed into law, the Commission will quickly release the Timetable and Schedule of Activities for the 2023 General Election based on the new law.
“As we commence our first regular quarterly consultative meeting for 2022, let me seize the opportunity to congratulate those who may be attending the meeting for the first time after your party’s elective conventions.”
The INEC boss further noted that the year 2022 will be a very busy one for both the Commission and the political parties because most arrangements for the 2023 elections would be organized within the year.
He added that the Continuous Voter Registration (CVR) which began in June last year has entered the third quarter with over eight million new registrants recorded. He therefore advised the party leaders to continue to encourage more Nigerians to register in order to be eligible to participate in the next general elections.
“Undoubtedly, the year 2022 is going to be a very busy year for the Commission and the political parties. The 2023 General Election is just 396 days away. All the critical preparations must be concluded this year. The Continuous Voter Registration (CVR) which commenced in June last year has entered the third quarter. As at yesterday Monday 17th January 2022, a total of 8,260,076 eligible Nigerians commenced the online pre-registration, completed the registration physically or applied for transfer to new voting locations, replacement of their Permanent Voters’ Cards (PVCs) or updated their voter information records as required by law.
“At the moment, the Commission is undertaking the most comprehensive cleaning up of the data to ensure that only eligible citizens are added to the voters’ register for the 2023 General Election and will share our findings with Nigerians and the actual dates for the collection of the PVCs nationwide will be announced very soon. I want to request that you continue to encourage eligible voters who have not registered to do so, bearing in mind that those who had registered at any time previously need not register again.”
On the forthcoming Council elections in the Federal Capital Territory (FCT) the INEC Chairman said the Bimodal Voter Accreditation System (BVAS) will be deployed just as it was used in the last Anambra state governorship election.
“For emphasis, the Bimodal Voter Accreditation System (BVAS) will be deployed in the FCT elections which is the second major election after the Anambra Governorship election held in November last year. The 68 constituencies in the FCT (six Chairmen and 62 Councillors) covering extensive urban and rural locations sharing border with five States in the North Central and North Western parts of the country is another opportunity to pilot the efficacy of the BVAS in a different geographical, geo-political and electoral context. The same technology will be deployed in all forthcoming bye-elections across the country. For all elections going forward, Polling Unit results will be uploaded in real-time to the INEC Result Viewing (IReV) portal.”
In his remarks, the National Chairman of IPAC, Engr. Yabagi Yusuf Sani lauded the INEC Chairman for the various innovations he has been introducing to ensure that elections were free and fair.
“It is our fervent hope and prayers, that the new heights in the standards of performance by INEC will not only be sustained but, further perfected and improved upon for greater degrees of success in its conduct of future elections. We are in this regard, anticipating more superlative performance by INEC in the remaining off-season elections, beginning with the Council elections in the Federal Capital Territory and later on, the gubernatorial elections in Osun and Ekiti states.”
However, he said IPAC is not unmindful of the manifestations of incidents of hitches experienced in the Anambra state governorship election, hence the call on the Commission to take measures to rectify the observed lapses in future elections.
Economy
Investors Gain N183bn on NGX
The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.
Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.
The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.
68, against 98,206. 97 recorded on Tuesday.Consequently, the Year-To-Date (YTD) return increased to 31.
74 per cent.Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.
Market breadth closed positive with 34 gainers and 17 losers.
On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.
Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.
On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.
Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.
A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.
Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.(NAN)
Economy
Yuan Weakens to 7.1870 Against Dollar
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)Economy
Bring Kaduna Refinery Back into Operation, Youth Group Urges NNPCL
Arewa Youths Initiative for Energy Reforms (AYIFER), has urged Nigeria National Petroleum Corporation Limited (NNPCL) to do everything possible to bring Kaduna Refinery back into operation.
National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.
Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.
He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.
“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.
“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.
“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.
Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.
According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.
He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)