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Presidency Rejects EU Verdict on 2023 General Elections

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By Mathew Dadiya, Abuja

The presidency yesterday faulted the European Union’s conclusion report on the 2023 general elections that brought the candidate of the ruling All Progressives Congress (APC), Bola Tinubu as the elected president in February 25.

This is even as the two main opposition candidates in the presidential election, Atiku Abubakar of the People’s Democratic Party (PDP) and Peter Obi of the Labour Party (LP) are currently in court, seeking to cancel results from February 25 presidential election.

There have been numerous legal challenges to the outcome of previous Nigerian presidential elections but none has succeeded.

Atiku Abubakar and Peter Obi are asking the Court to invalidate the election won by Bola Tinubu of the ruling All Progressives Congress (APC).

The opposition leaders said in separate affidavits the election was fraught with irregularities and accused the Independent National Electoral Commission (INEC) of breaching the law by failing to use electronic machines to upload polling station results, among other criticisms.

In a statement yesterday, Special Adviser to the President, Special Duties, Communications and Strategy, Dele Alake recalled that sometimes in May, “we alerted the nation, through a press statement, to the plan by a continental multi-lateral institution to discredit the 2023 general elections conducted by the Independent National Electoral Commission (INEC).

Alake, in a statement yesterday in Abuja, said, the main target was the presidential election, “clearly and fairly won by the then candidate of All Progressives Congress, Bola Ahmed Tinubu”.

“While we did not mention the name of the organisation in the said statement, we made it abundantly clear to Nigerians how this foreign institution had been unrelenting in its assault on the credibility of the electoral process, the sovereignty of our country and on our ability as a people to organise ourselves.

We find it preposterous and unconscionable that in this day and age, any foreign organisation of whatever hue can continue to insist on its own yardstick and assessment as the only way to determine the credibility and transparency of our elections.

“Now that the organisation has submitted what it claimed to be its final report on the elections, we can now categorically let Nigerians and the entire world know that we were not unaware of the machinations of the European Union to sustain its, largely, unfounded bias and claims on the election outcomes.

“For emphasis, we want to reiterate that the 2023 general elections, most especially the presidential election, won by President Bola Tinubu/All Progressives Congress, were credible, peaceful, free, fair and the best organised general elections in Nigeria since 1999,” Alake said.

The Presidency argued that there was no substantial evidence provided by the European Union or any foreign and local organisation that is viable enough to impeach the integrity of the 2023 election outcomes. 

It is worth restating that the limitation of EU final assessment and conclusions on our elections was made very bare in the text of the press conference addressed by the Head of its Electoral Observation Mission, Barry Andrews, the presidency stated.

“While addressing journalists in Abuja on the so-called final report, Andrews noted that EU-EOM monitored the pre-election and post-election processes in Nigeria from January 11 to April 11, 2023 as an INEC accredited election monitoring group.

“Within this period, EU-EOM observed the elections through 11 Abuja-based analysts, and 40 election observers spread across 36 states and the Federal Capital Territory.

“With the level of personnel deployed, which was barely an average of one person per state, we wonder how EU-EOM independently monitored election in over 176,000 polling units across Nigeria.”

The presidency said they would like to know and even ask EU, how it reached the conclusions in the submitted final report with the very limited coverage of the elections by their observers who, without doubt, “relied more on rumours, hearsay, cocktails of prejudiced and uninformed social media commentaries and opposition talking heads.”

Querying further, the seat of power added that they are convinced that what EU-EOM called final report on “our recent elections is a product of a poorly done desk job that relied heavily on few instances of skirmishes in less than 1000 polling units out of over 176,000 where Nigerians voted on election day.

“We have many reasons to believe the jaundiced report, based on the views of fewer than 50 observers, was to merely sustain the same premature denunciatory stance contained in EU’s preliminary report released in March.

“We strongly reject, in its entirety, any notion and idea from any organisation, group and individual remotely suggesting that the 2023 election was fraudulent,” it stated.

The presidency further stated that their earlier position that the technology-aided 2023 general elections were the most transparent and best organised elections since the return of civil rule in Nigeria has been validated by all non-partisan foreign and local observers such are the African Union, ECOWAS, Commonwealth Observer Mission and the Nigerian Bar Association.

Unlike EU-EOM that deployed fewer than 50 observers, the Nigerian Bar Association that sent out over 1000 observers spread across the entire country for same election gave a more holistic and accurate assessment of the elections in their own report, the government said.

“NBA, an organisation of eminent lawyers and an important voice within the civic space, reported that 91.8 per cent of Nigerians rated the conduct of the national and state elections as credible and satisfactory. Any election that over 90% of the citizens considered transparent should be celebrated anywhere in the world.

“It is heart-warming that INEC, through its National Commissioner for Information and Voter Education, Mr. Festus Okoye, has come out to defend the integrity of the election it conducted by rejecting the false narratives in the EU report.

“It is also gratifying that the electoral umpire, as an institution that is open to learning and continuous improvements, has also committed to taking on board more ideas, innovation and reforms that will further enhance the integrity and credibility of our electoral process.

“As a country, we have put the elections behind us. President Tinubu is facing the arduous task of nation-building, while those who have reasons to challenge the process continue to do so through the courts.

“In just one month in office, Nigerians appear satisfied with the decisive leadership of President Tinubu and the manner he is redirecting the country to the path of fiscal sustainability and socio-economic reforms,” the presidency explained.

The Federal Government urged the EU and other foreign interests to be objective in all their assessments of the internal affairs of the country and allow Nigeria to breathe.

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Senate Investigates $18.5bn Abuja Centenary City Project

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By Eze Okechukwu, Abuja

Senate yesterday set up a seven-member ad-hoc committee to investigate the circumstances surrounding the lack of completion of the $18.5billion Abuja Centenary Economic City project, a decade after commencement.The Upper Chamber tasked the committee to review the original Public Private Partnership agreement and recommend amendments if necessary to facilitate the smooth and expeditious completion of the project.

The Senate also urged the Federal Government to prioritise the revival of the Centenary City project by providing appropriate support, resolving regulatory issues and addressing any other impediments, given its beneficial potential to the economy and people of Nigeria after 10 years of stalled progress.
The resolutions of the senate followed its consideration of a motion titled: “Urgent need to revive and complete the stalled Centenary City Project, to realise its economic and development potential” during plenary yesterday.The motion was sponsored by the Deputy Senate Leader, Senator Ashiru Yisa (APC – Kwara South).Senator Yisa in his lead debate urged colleagues to note that the Abuja Centenary Economic City project commenced in 2014 through a public private partnership to develop a modern city in the mood of Dubai, to commemorate 100 years of Nigeria’s amalgamation celebration.The Abuja Centenary Economic City Project was to be built according to the model and standard of global smart cities like Dubai, Monaco and Singapore.President Goodluck Jonathan laid foundation for the project on February 27, 2014 with a funfare.After Jonathan was defeated in the 2015 general elections, the succeeding Muhammadu Buhari administration put a halt to the project.The project driven by private investors was launched to mark the 100th anniversary of Nigeria costing $18b with 10–15 years completion period.

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CBN Gives POS Operators July 7 Deadline to Register with CAC

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By Tony Obiechina, Abuja

The Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation (CAC).This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN) in Abuja on Tuesday.

Speaking at the event, the CAC boss said the two-month timeline to register their agents, merchants, and individuals with the commission, was “in line with legal requirements and the directives of the Central Bank of Nigeria”.
“The measure aims at safeguarding the businesses of Fintech’s customers and strengthening the economy,” a statement titled ‘CAC, PoS Operators Agree to Two-Month Deadline to Register Their Agents and Merchants to Strengthen the Fintech Industry”, the CAC added.
He stressed that the action was equally backed by Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020, and the 2013 CBN guidelines on agent banking.Magaji explained that the timeline for the registration which will expire on July 7, 2024, was not targeted at any groups or individuals but aimed at protecting businesses.Several speakers from the Fintech industry pledged to collaborate with the commission to ensure hitch-free implementation of the directive.Some of them, however, stressed the need for adequate and collective sensitisation, to ensure that the exercise achieved the desired results.The Special Adviser to the President on ICT Development and Innovation, Tokoni Peter, in his remarks, pledged to ensure smooth facilitation of the process in line with the Renewed Hope Initiative of the present administrationThe representatives of Opay, Momba, Palmpay Ltd, Pay Stack, Fair Money MFB, Monie Point, and Teasy Pay present at the event, later signed up for a document to support the project.

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CBN Exempts Salaries, Loans, Pensions, Donations from Cyber Security Levy

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By Tony Obiechina, Abuja

Central Bank of Nigeria (CBN) has exempted 16 items from the 0.5 per cent Cybersecurity levy on all electronic transactions.CBN had directed banks to begin charging 0.5% cybersecurity levy on transactions as part of efforts to contain the rising cybercrime threats in the financial system.

According to the Apex Bank, deducted funds will be remitted to the National Cybersecurity Fund (NCF), which shall be administered by the Office of the National Security Adviser (ONSA).
A circular released by the CBN on Monday directed all commercial, merchant, non-interest and payment service banks to comply with the directive.The circular revealed that it was a follow-up on an earlier letter dated June 25, 2018 (Ref: BPS/DIR/GEN/CIR/05/008) and October 5, 2018 (Ref: BSD/DIR/GEN/LAB/11/023), in compliance with the Cybercrimes (Prohibition, Prevention, Etc.
) Act 2015.Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 and under the provision of Section 44 (2)(a) of the Act, a levy of 0.5 per cent (0.005) equivalent to half per cent of all electronic transactions value by the business specified in the Second Schedule of the Act is to be remitted to the National Cybersecurity Fund, which the Office of the National Security Adviser shall administer.The exemptions included loan disbursements and repayments, salary payments, intra-account transfers within the same bank or between different banks for the same customer, intra-bank transfers between customers of the same bank, and Other Financial Institutions (OFIs) instructions to their correspondent banks.The exemption also applies to interbank placements, banks’ transfers to CBN and vice versa, inter-branch transfers within a bank, cheque clearing and settlements, and Letters of Credit (LCs).Others include banks’ recapitalisation-related funding only bulk funds movement from collection accounts; savings and deposits including transactions involving long-term investments such as treasury bills, bonds; and commercial papers; government social welfare programmes transactions, e.g. pension payments; non-profit and charitable transactions including donations to registered non-profit organisations or charities; educational institutions transactions, including tuition payments and other transaction involving schools, universities, or other educational institutions.Transactions involving the bank’s internal accounts, such as suspense accounts, clearing accounts, profit and loss accounts, inter-branch accounts, reserve accounts, nostro and vostro accounts, and escrow accounts, are also exempt from the levy.The central bank warned that Section 44 (8) of the Act prescribes that failure to remit the levy constitutes an offence punishable on conviction by a fine of not less than two percent of the defaulting business’s annual turnover, among other things.

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