NEWS
Group Calls for Restraint over Planned Impeachment of President Buhari

By Tony Obiechina, Abuja
A group has cautioned against the planned impeachment of President Muhammadu Buhari by the Senate.
Minority members of the Senate recently walked out of the plenary threatening to commence Impeachment procedures against the President if he fails to address the growing insecurity in the country.
The group, under the banner of Non State Actors Consultative Forum (NOSACOF) said in statement in Abuja that it was improper to start talking about Impeaching the President now given the economic and security challenges the country is presently facing.
The statement which was jointly signed by
Abdulrazaq Alkali Bako, Lead Convener and Ernest Bako, Co-convener, said, “We the members of Non State Actors Consultative forum (NOSACOF) feel a sense of responsibility to lend our voice on this issue in defence of democracy and the unity of Nigeria”.
The statement further reads: “The economic and security challenges bedevilling Nigeria as a nation have got worse in recent months. More and more Nigerians have fallen below the poverty line, and terrorism by bandits and faceless terrorist acting against defenceless citizens have continued with little resistance from the Nigeria’s security apparatus.
“Inflation is on the rise, and citizens are finding it very difficult to keep up cost of living. There have been a lot of fingers pointing, as well as accusations and counter accusation between citizens and the government as well as between warring ethnic nationalities. It is indeed a very trying time for Nigerians!
“While Majority of Nigerians blame the government for not fulfilling its promise on improving and protecting lives and properties of citizens, the government is also accusing some citizens of selfishness and not fulfilling their citizenry duty of community policing but instead some are colluding with terrorist and serving as informant for the terror groups, thus making it difficult for the Nigerian security operatives to overcome the terror groups.
“While there are some truths to both arguments, one thing that stands out and contribute to the shortcomings from both parties (citizens and leaders) can be related to economic challenges the country is facing. However, it should be clear to all that the recent economic challenges are largely a global challenge resulting from the aftermath of the COVID-19 pandemic and the ongoing Russia-Ukraine war.
“However, Nigerians may find it more challenging compared to other countries due to the fact that over the previous decades, previous administrations have failed to invest in agriculture, infrastructure, crude oil refining and in modernising the security infrastructure. All these have combined to make the insecurity problems more complex to solve.
“Amidst all these turbulence, legislative chambers in Nigeria are most at times full of drama’s due to the incompetent behaviour of some the legislators, a dangerously new twist have started to unfold in the National Assembly, where some members of the opposition and some disgruntled members of the ruling party are making moves for the impeachment of President Muhammadu Buhari and fuelling accusations and sentiments against the president and his team in order to get backing from Nigerians.
“However, in doing so, they have failed to look at the failures of both national assemblies (house and senate) and how their incompetence’s have contributed to the worsening economic and security the situation in Nigeria. We can all agree that the current security problems of Nigeria today have been as a result of accumulation of years of incompetence, selfishness, greed, injustice and corruption perpetrated by mostly political leaders who are shielded by ethnic and religious entities, a weak and corrupt justice system and to some extend by common citizens.
“As such despite some weakness on the part the President Muhammad Buhari, it will be unjust to lay all the blame on his table and start calling for his impeachment, rather the legislators should focus on finding real solutions of making citizens-oriented legislation that will bring solutions to the insecurities tormenting the country.
“They have also failed to carryout the oversight functions on the various security arms of the government despite billions of dollars budgeted for security, instead majority of them have focused their attention on befriending the head of these agencies in their chase for getting contracts and other financials gains. And that we have come to realize the move to impeach the president is orchestrated by mostly members of the ruling APC who lost out at the presidential primaries and senatorial of the party.
“Most of those in the forefront of the impeachment struggle are agents of some defeated candidates that will benefit if the president is impeached. While there are others supporting the impeachment out of sheer frustration to pull down the APC since they won’t return to the red chambers having been defeated earlier in the contest.
Section 143 of the 1999 constitution as amended have outline the steps and guidelines to be followed for the impeachment of a sitting President of the Federal Republic of Nigeria.
“The question here is whether the legislators championing the move for impeachment s are willing to follow due process or they just want to create a high-level chaos that capable of completely plunging the country in worse internal conflicts, it may never recover from. It is very clear that promoters of the impeachment neither have the numbers nor the facts and evidence to successfully impeach the president, but just want to serve a selfish motive and interest. It is imperative for well meaning Nigerians not to allow themselves to be played by the selfish interest of a few, whose action will worsen the fragile situation in this country.
” It is very important for Nigerians to exercise caution and allow democratic process to take place through proper electoral transition, the general election is just around the corner, and the current administration will leave less than year from now. The ball is now in our court as Nigerians to vote for competent leaders for both executive and legislative positions and to make sure that those we voted for next will put the interest of citizens first in everything they do”.
NEWS
Investors lose N91bn as NGX Opens Bearish

The stock market on Wednesday opened the week bearish as performance indices declined by 0.14 per cent.
Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation fell by N91 billion, or 0.14 per cent, to N66.166 trillion from N66.257 trillion recorded on Friday.
The All-Share Index also dropped by 0.
14 per cent or 144.65 points to close at 105,515.99, down from 105,660. 64 posted on Friday.Th downturn was due to alignment of portfolios by dividend taking-investors.
Also, the market breadth closed negative with 33 losers and 25 gainers.
On the losers’ chart, UACN dropped by 10 per cent to close at N31.95, while University Press fell by 9.
95 per cent to close at N3.89 per shareSunu Assurance lost by 9.92 per cent to close at N5.99 and Consolidated Hallmark Holdings declined by 9.78 per cent to close at N3.23 per share.
Similarly, Learn Africa dropped by 9.64 per cent to close at N3.00 per share.
On the gainers’ chart, UPDCREIT soared by 10 per cent to close at N6.05, while VFD Group increased by 9.96 per cent to close at N51.90 per share.
Africa Prudential rose by 9.96 per cent to close at N14.35 and Union Dicon Salt soared by 9.28 per cent, to close at N5.30 per share.
Also, May Baker gained by 6.17 per cent to close at N8.60 per share.
A total of 438.09 million shares worth N12.016 billion were exchanged across 17,286 transactions.
This is compared to 47.57 million shares worth N21.617 billion that was exchanged across 13,244 transactions on Friday.
Transactions in Fidelity Bank shares topped the activity chart with 41.725 million shares worth N783.26 million.
Mutual Benefits followed with 35.99 million shares valued at N38.215 million while Nigerian Breweries sold 35.614 million shares worth N1.221 billion.
Guaranty Trust Holding Company transacted 33.046 million shares valued at N2.303 billion and Zenith Bank traded 28.635 million shares worth N1.345 billion.
Reacting to the negative market performance, Mr Aruna Kebira, Managing Director of Globalview Capital Ltd., said that the market downturn trend was a result of profit-taking.
According to him, investors are moving their resources from their previous positions, especially to Guaranty Trust Holding Company, due to the attractiveness of its final dividend for 2023.
He said, “What we witnessed today was an alignment of portfolios by dividend-seeking investors.
“The market has analysed the declaration of results, so investors are shifting their positions from their initial holdings to GTCO.
“People are often carried away by immediate yield but don’t critically analyse the market.”(NAN)
NEWS
Police Intensify Surveillance at Sagamu Interchange

The Police Command in Ogun says it has beefed up security at the Sagamu Interchange on the Lagos-Ibadan Expressway to ensure the safety of residents and commuters.
CSP Omolola Odutola, the command’s spokesperson, disclosed this in a statement in Abeokuta on Wednesday.
According to Odutola, the security measures are being taken in response to recent concerns about security in the axis.
She explained that the Commissioner of Police, Lanre Ogunlowo, had proactively led efforts to reinforce security at the Sagamu Interchange Section on the Lagos-Ibadan Expressway.
Odutola said that personnel from the Quick Response Squad, OP Mesa and Mobile Police Squadrons 71 had been strategically stationed at key locations in the area.
The police spokesperson, however, listed the locations to include, under the bridge, at the roundabouts, and along the inward and outward routes of the four intersections.
“A two-hour assessment of the area conducted by the commissioner of police, revealed illegal trading activities and presence of touts.
“Earlier in the day, a criminal hideout was discovered in surrounding bush at the interchange and three suspects were arrested.
“Thereafter, an immediate disbandment of illegal trading activities under the interchanged bridge was carried out,” she said.
The command spokesperson urged citizens to remain vigilant and avoid falling victim of criminal activities.
She advised commuters to plan their travels early to minimise security risks.
Odutola assured of increased security presence, collaborative efforts of sister security agencies and continued support of Ogun government on highways in the state. (NAN)
NEWS
Abia Govt. to Crack Down on Traditional Rulers Shielding Criminals
The Abia State Government says it will intensify efforts against criminal activities by scrutinising traditional rulers suspected of harbouring criminals in the state.
The Commissioner for Information, Mr Okey Kanu, made the disclosure at a news briefing on the outcome of the State Executive Council meeting on Wednesday in Umuahia.
Kanu said security operatives acting on credible intelligence would conduct raids in areas where unlawful elements are believed to be sheltered.
The commissioner stressed that traditional rulers found culpable of providing refuge or protection to criminals would be made to face the full weight of the law as the government aims to rid the state of insecurity.
Kanu, therefore, urged town unions and traditional rulers to fulfill their duties of maintaining security and vigilance within their communities.
“Few weeks back, there was a kidnapping incident in Ukwa involving a prominent business mogul and son of this state.
“The security authorities have confirmed his release, and he is in good health as verified by medical professional,” he said.p
Kanu, however, reaffirmed government’s commitment to ensuring the safety and security of all residents.
He also called on all residents to remain vigilant and promptly report any suspicious movements or activities to the appropriate security agencies.(NAN)