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Enugu Guber Poll: I’m Confident of  Tribunal Victory – Edeoga

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By Eddy Ochigbo & Orkula Shaagee, Abuja

The Labour Party (LP) governorship candidate in the March 18 election in Enugu State, Hon. Chijioke Edeoga, has expressed confidence and trust in the judiciary to deliver justice to him by declaring him winner of the gubernatorial contest in the state.

Edeoga, who is challenging the declaration of Peter Mba of the Peoples Democratic Party (PDP) by the Independent National Electoral Commission (INEC) as the winner of the election, spoke when he paid a courtesy visit to DAILY ASSET’s head office, Abuja, yesterday.

He praised the resilience of the people of Enugu State in giving him the push to seek justice over the result of the election, noting that voters in the state demonstrated a strong desire for a genuine political change in this year’s elections.

He further noted that given the declaration made by INEC which indignated the people of the state, some observers  were amazed by the vibrancy and cheerfulness with which he has carried on, especially as the unexpected declaration of Mba led to sudden deaths in the state and in some cases triggered mental ill health in some others. According to him, this is “because they couldn’t come to terms with the declaration when they know that I won the election. This is evidential.”

He noted that “In Enugu State now, we have 14 members of the House of Assembly out of 24, leaving the PDP with only 10. Labour Party  has two senators, leaving the PDP with one. LP has seven members of the House of Reps, leaving PDP with only one. It was an easy road to victory for me and the party. We have 17 LGAs in the state.

In the result of 16 LGAs that came in, LP was leading with eleven thousand votes. The result of only one LGA which is the LGA where the PDP candidate comes from was deliberately kept back, where sixteen thousand voters were accredited and they returned thirty thousand votes in other to beat the clear lead of LP.”

He observed that “There was no reason for the result from that LGA to come late or last because it is one of the closest to the INEC Headquarters. The results from the farthest and biggest LGAs had come in, that of Nkanu East was deliberately kept back, now we know, for the necessary adjustments to be made after all other results had come in, in connivance with the resident electoral commissioner who provided them with extra sheets to accommodate the alterations that ensued.”

According to him, “When this thirty thousand results came into the collation centre, all the opposition political parties protested, that it was an anomaly. And then Abuja intervened and the collation was suspended. I understand that the relevant persons:

the REC and some INEC National officers were asked to come to Abuja. People asked me to go to Abuja and I said no because the matter is clear. The law says in matters of over-voting, you cancel. So I said Abuja would do the right thing, they will apply the law and announce the proper result. But lo and behold rather than cancel what Abuja did was to scrap off sixteen thousand votes from the over-voting and now said that PDP had won by about three thousand votes. They gave LP one hundred and fifty-seven thousand and gave PDP one hundred and sixty thousand. Up till now, no one has told us the basis of that decision.

“The only issue for me was my disappointment from my naivety because I had assumed that Nigeria could work because I had thought that there are patriots in Abuja and that Abuja would apply the law. When it failed I was disappointed. Abuja had no right to allocate favours. They have no powers at all. They acted outside the law in making those allocations. We now sent a petition to Abuja.

“There are places where twenty-one thousand votes were cancelled, incident forms entered. Twenty-one thousand votes for LP against three thousand and they were my strongholds. Do you want to take into consideration these cancellations? We filed a petition in the tribunal. We are challenging INEC’s declaration on that election. The basis of our challenge are three. One, that the candidate of the PDP was not qualified to contest the election, abnitio, having submitted a forged NYSC document.

“We have uploaded the evidence to that effect. Number two, we asked the tribunal to help rectify the calculation errors because in Udenu LGA which is the LGA of the current governor what the PDP and INEC did was to re-allocate my favours.

“In a polling unit where it was clearly recoded and acknowledged and certified that LP won, for instance 80 for LP and 14 for PDP, at the point of collation, the officers deliberately moved the victory to the PDP and moved the loss to LP. And it happened consistently in Udenu to the point that we need proper calculation and to return three thousand votes. And these are in documents, certified by INEC.

“We said they are calculation errors, so please calculate properly. And the third arm is that we said they acted in variance with the Electoral Law. In the area of over-vote, you cancel. We gave example, especially with Nkanu East, the home LGA of the PDP candidate where there was clear over vote. So we are saying please apply the law on over vote.

“So we are in the tribunal, the PDP has replied. Anytime from now, the battle will begin. We are optimistic that before the matter will travel the gamut from Tribunal, Appeal to Supreme Court, the truth will prevail and justice will be done. We hope that justice will be done in our case because the injustices are glaring.”

While further espousing hope and confidence in the judiciary, Edeoga said “Our hope is in the judiciary. Even when the judiciary errs, people will know because the judiciary acts on precedents and facts, evidences, so we assume that they are going to follow the tradition. For instance, the precedence with regards to the submission of forged documents are very clear.

“The Supreme Court’s position on that is very clear. So we expect that for instance if the issuing office is called, in this case, the NYSC is called and asked did you issue this certificate? Once the NYSC said we didn’t issue it, the law expects nothing else than disqualification. We don’t expect the tribunals or the Supreme Court to depart from these precedents.

“We said it is calculation error. We didn’t allege any crime, so there is no reason why a judge who had come to effect justice would refuse to correct a calculation error when the miscalculations are obvious. The areas of our expectations do not leave much to idiosyncrasies, they follow strictly on matters that are factual and evidential.”

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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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