COVER
Nnamdi Kanu Pleads Not Guilty To Seven-count Amended Charge
By Martin Paul, Abuja
Leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, arraigned Thursday at an Abuja Federal High Court, amid tight security, pleaded not guilty to the new seven-count amended charge preferred against him by the Federal Government.
Kanu’s trial ensued even as former Governor of Anambra State, Chukwuemeka Ezeife, former Minister of Aviation, Femi Fani-Kayode, a retinue of journalists from prints and electronics media, among other personalities, were barred from entering the court room.
While armed security personnel and the DSS tried to contend with surging crowd outside the court room, Kanu, who was docked before Justice Binta Nyako, pleased not guilty to all the allegations levelled against him after the charges were read to him.
The trial judge, however, rejected the request for transfer to Kuje Prison and adjourns case till November 10 for further hearing
The security presence drawn from the Department of State Service, the Nigerian Police Force, the Nigerian Security and Civil Defence Corps and the Nigerian Army and stationed as early as 4am, blocked all roads leading to the high court premises which is adjacent the Federal Ministry of Justice Headquarters.
One of the stained looking security personnel said their action was based on “order from above”, adding that “no journalist would be permitted to enter the courtroom till the end of the proceedings.
“You people can go to your press centre and wait till the end of the matter, after then, you will receive a briefing on what happened”, one of the hooded operatives stated.
The Federal Government had in the amended charge marked FHC/ABJ/CR/383/2015, which was signed by a team of government lawyers led by the Director, Public Prosecution of the Federation, Mr. M. B. Abubakar, alleged that Kanu had in furtherance of an act of terrorism, issued a deadly threat that anyone that flouted his sit-at-home order should write his or her will.
FG alleged that as a result of Kanu’s directive, banks, schools, markets, shopping malls, fuel stations were not opened for businesses, with vehicular movements grounded in the South East region of the country.
It said the action amounted to an offence contrary to and punishable under 1(2) (b) of the Terrorism Prevention Amendment Act, 2013.
FG alleged that Kanu had “on or about the 28th April, 2015 in London, United Kingdom did in a broadcast on Radio Biafra monitored in Enugu, Enugu state and other parts of Nigeria within the jurisdiction of this honourable court, referred to Major General Muhammadu Buhari, President and Commander in Chief of the Armed Forces of the Federal Republic of Nigeria as a paedophile, a terrorist, an idiot and an embodiment of evil, knowing same to be false and you thereby committed an offence contrary to section 375 of the Criminal Code Act, Cap C. 38 Laws of the Federation of Nigeria, 2004.”
He was alleged to have committed treasonable felony, an offence punishable under Section 41(C) of the Criminal Code Act, CAP C38 Laws of the Federation of Nigeria
He was alleged to had between 2018 and 2021, through Radio Biafra, professed to be a member of IPOB, a proscribed organization in Nigeria, and thereby committed an offence punishable under section 16 of the Terrorism Prevention Amendment Act, 2013.
In count five of the charge, FG alleged that Kanu had on April 22, 2021, in London, the United Kingdom, on Radio Biafra monitored in Enugu and other parts of Nigeria, did an act of terrorism “in that you incite the other members (followers) of the Indigenous People of Biafra (IPOB), a proscribed organization in Nigeria, to look for security personnel, their family members through a Radio Biafra on 102.1FM monitored through the IPOB Community Radio, and you thereby committed an offence contrary to and punishable under section 1 (2) (h) of the Terrorism Prevention Amendment Act, 2013.”
Attached in support of the amended charge dated October 14, included a seven-paragraphed affidavit of completion of investigation deposed to by one Loveme Odubo, a prosecutor in the Federal Ministry of Justice.
FG equally lined up five witnesses to testify in the matter, among whom are officials of the Department of State Service, DSS, and one Ronald S. who was identified as the manager of a Hotel in Lagos.
Abia Capital, Umuahia, on Lockdown for IPOB Leader
Meanwhile, report monitored in Abuja showed that the sit-at-home order by IPOB in Abia state, while the trial of Nnamdi Kanu lasted, was partially successful.
In Umuahia the state capital, a total lockdown in solidarity with the detained leader was observed yesterday, as streets were completely empty as residents remained indoors in full compliance with the
There were no vehicular movements except for few vehicles that occasionally passed by.
No market or shop was open around the state capital as residents stayed indoors.
Banks and schools both private and public were all shut down.
Some youths were sighted playing football on Ibeku street while some residents were sighted in front of their houses discussing in groups.
There were no incidents of violence anywhere in the capital city.
Similarly, the sit-at-home recorded full compliance in Aba the commercial centre of the state.
The commercial city was said to be a ghost of itself as markets, banks, schools, and motor parks were all shut down.
The roads were also said to be empty as residents remained indoors.
COVER
Yahaya Bello to Spend Christmas, New Year in Kuje Prison
By Mike Odiakose, Abuja
Immediate past governor of Kogi State, Yahaya Bello will spend the 2024 Christmas and 2025 New Year days in Kuje prison, Abuja, following refusal of his bail application by the Federal Capital Territory High Court.
Justice Maryann Anenih yesterday adjourned the case until Jan.
29, Feb. 25, and Feb. 27, 2025 for the continuation of the hearing.The former governor is standing trial, along with two others, in an N110 billion money laundering charge brought against him by the Economic and Financial Crimes Commission (EFCC).
Justice Anenih had refused to grant a bail application filed by Bello, saying it was filed prematurely.
The judge admitted Umar Oricha and Abdulsalam Hudu, to bail in the sum of N 300 million each with two sureties.
Justice Anenih, while delivering a ruling said, having been filed when Bello was neither in custody nor before the court, the instant application was incompetent.
“Consequently, the instant application having been filed prematurely is hereby refused,” she said.
Recalling the arguments before the court on the bail application, the judge had said, “before the court is a motion on notice, dated and filed on Nov. 22.
“The 1st Defendant seeks an order of this honourable court admitting him to bail pending the hearing and determination of the charge.
“That he became aware of the instant charge through the public summons. That he is a two-term governor of Kogi State. That if released on bail, he would not interfere with the witnesses and not jump bail.”
She said the Defendant’s Counsel, JB Daudu, SAN, had told the court that he had submitted sufficient facts to grant the bail.
He urged the court to exercise its discretion judicially and judiciously to grant the bail.
Opposing the bail application, the Prosecution Counsel, Kemi Pinheiro, SAN, argued that the instant application was grossly incompetent, having been filed before arraignment.
He said it ought to be filed after arraignment but the 1st Defendant’s Counsel disagreed, saying there was no authority
“That says that an application can only be filed when it is ripe for hearing.”
Justice Anenih held that the instant application for bail showed that it was filed several days after the 1st defendant was taken into custody.”
Citing the ACJA, the judge said the provision provided that an application for bail could be made when a defendant had been arrested, detained, arraigned or brought before the court.
Bello had filed an application for his bail on November 22 but was taken into custody on November 26 and arraigned on Nov. 27.
COVER
Middle Belt Group Tasks FG on Resettlement, Safety of IDPs
From Jude Dangwam, Jos
Conference of Autochthonous Ethnic Nationalities Community Development Association (CONAECDA) has called on the federal government to intensify efforts in the resettlement of displaced persons in their ancestral homes.
The organization made this call at the end of its conference held in Jos, the Plateau State Capital weekend.
Thirty resolutions were passed covering security, economy, politics, governance, culture, languages, human rights and indigenous peoples’ rights among others.
The Conference President, Samuel Achie and Secretary Suleman Sukukum in a communique noted that the conference received and discussed reports from communities based on which resolutions were reached on securing, reconstruction, rehabilitation and returning communities displaced by violence across the Middle Belt.
“After considering the reports from communities displaced by violent conflicts, conference resolved, and called on government to focus on providing security to deter further displacements.
“Call on government to provide security to enable communities to return. Government and donor partners should assist in reconstructing and returning displaced communities,” the communique stated.
The GOC 3 Armoured Division Nigeria Army represented by Lt Col Abdullahi Mohammed said the Nigerian Army is committed to working closely with communities to achieve a crime-free society, urging communities to support them with credible information.
“Security is a collective effort, and we cannot do it alone, the community plays a crucial role in ensuring safety.
“We urge everyone here not to shield or protect individuals involved in criminal activities. Transparency and collaboration, together, with maximum cooperation, we can achieve peace, security, and prosperity for our society,” the GOC stated.
The National Coordinator of CONECDA, Dr. Zuwaghu Bonat in his address at the gathering noted that the theme of this year’s program, Returning, Resettling, and Rehabilitating Displaced Communities, was chosen as a wakeup call on the federal government.
He maintained that the organization is aware that President Bola Tinubu has expressed a commitment to ensuring that displaced communities return to their ancestral lands.
He said similarly, some state governments, including Plateau State, have set up committees to address the lingering matter.
The coordinator however cautioned, “It is critical that we avoid generalizations or profiling. For instance, Not all Muslims are involved in terrorism. The overwhelming majority of Muslims in Nigeria are peaceful and reject extremist ideologies.
“We also know that some terrorists exploit religion to mobilize support or rationalize their actions. However, their atrocities – slaughtering women, cutting open pregnant mothers, and killing children show a profound disregard for humanity and God. Normal human beings would not commit such acts.
“We must also be cautious about lumping banditry with terrorism. While statistics indicate that many bandits and kidnappers may share similar ethnic backgrounds, kidnapping has now evolved into a profit-driven enterprise. This distinction is vital to address the root causes effectively,” he stated.
The Governor of Plateau State, Caleb Mutfwang represented by his Senior Special Assistant (SSA) on Middle Belt Nationalities, Hon Daniel Kwada noted that the conference was apt to addressed the various underlying issues bedeviling the region and its people.
“We in the Middle Belt have long been standing at the crossroads of Nigeria’s complex history. Despite our tireless efforts to stabilize this nation, we have faced immense challenges, including underdevelopment, security issues, and marginalization.
“Often, we are unfairly maligned, but gatherings like this offer a chance to change the narrative.
“Such conferences set the tone for better discussions. They allow us to drive processes that bring development, ensure security, and elevate our people to greater heights,” Mutfwang noted.
COVER
Recapitalisation: SEC Charges Banks to Strengthen Corporate Governance
Securities and Exchange Commission (SEC) has called on banks to reinforce their corporate governance principles and risk management frameworks to boost investor confidence during the ongoing recapitalisation exercise.
Dr Emomotimi Agama, Director-General, SEC, said this at the yearly workshop of the Capital Market Correspondents Association of Nigeria (CAMCAN) held in Lagos.
The theme of the workshop is: “Recapitalisation: Bridging the Gap between Investors and Issuers in the Nigerian Capital Market”.
Agama, represented by the Divisional Head of Legal and Enforcement at the SEC, Mr John Achile, stated that the 2024–2026 banking sector recapitalisation framework offers clear guidance for issuers while prioritising the protection of investors’ interests
He restated the commission’s commitment towards ensuring transparency and efficiency in the recapitalisation process.
The director-general stated that the key to bridging the gap between issuers and investors remained the harnessing of innovation for inclusive growth.
In view of this, Agama said, “SEC, through the aid of digital platform, is exploring the integration of blockchain technology for secure and transparent transaction processing to redefine trust in the market.”
He added that the oversubscription of most recapitalisation offers in 2024 reflects strong investor confidence.
To sustain this momentum, the director-general said that SEC had intensified efforts to enhance disclosure standards and corporate governance practices.
According to him, expanding financial literacy campaigns and collaborating with fintech companies to provide low-entry investment options will democratise access to the capital market.
He assured stakeholders of the commission’s steadfastness in achieving its mission of creating an enabling environment for seamless and transparent capital formation.
“Our efforts are anchored on providing issuers with clear guidelines and maintaining open lines of communication with all market stakeholders, reducing bureaucratic bottlenecks through digitalisation.
“We also ensure timely review and approval of applications, and enhancing regulatory oversight to protect investors while promoting market integrity,” he added.
Agama listed constraints to the exercise to include: addressing market volatility, systemic risks, limited retail participation as well as combating skepticism among investors who demand greater transparency and accountability.
He said: “We are equally presented with opportunities which include leveraging technology to deepen financial inclusion and enhance market liquidity.
“It also involves developing innovative financial products, such as green bonds and sukuk, to attract diverse investor segments.
“The success of recapitalisation efforts depends on collaboration among regulators, issuers, and investors.”
Speaking on market infrastructure at the panel session, Achile said SEC provides oversight to every operations in the market, ranging from technology innovations to market.
He stated that the commission is committed to transparency and being mindful of the benefits and risks associated with technology adoption.
Achile noted that SEC does due diligence to all the innovative ideas that comes into the market to ensure adequate compliance with the requirements.
On the rising unclaimed dividend figure, Achile blamed the inability of investors to comply with regulatory requirements and information gap.
He noted that SEC had done everything within its powers to ensure that investors receive their dividend at the appropriate time.
He, however, assured that the commission would continue to strengthen its dual role of market regulation and investor protection to boost confidence in the market.
In her welcome address, the Chairman of CAMCAN, Mrs Chinyere Joel-Nwokeoma, said banks’ recapitalisation is not just a regulatory requirement, but an opportunity to rebuild trust, strengthen the capital market, and drive sustainable growth.
Joel-Nwokeoma stated that the recent recapitalisation in the banking sector had brought to the fore the need for a more robust and inclusive capital market.
She added that as banks seek to strengthen their balance sheets and improve their capital adequacy ratios, it is imperative to create an environment that fosters trust, transparency, and cooperation between investors and issuers.
The chairman called for collaboration to bridge the gap between investors and issuers to create a more inclusive and vibrant Nigerian capital market.She said: “we must work together to strengthen corporate governance and risk management practices in banks, enhance disclosure and transparency requirements for issuers.” NAN