COVER
Presidential Election Tribunal Orders Tinubu, APC’s Response to PDP, APM, Others’ Applications
By Jude Opara & Johnson Eyiangho, Abuja
The Presidential Election Petition Court in Abuja, yesterday ordered the All Progressives Congress (APC) and its presidential candidate, Bola Ahmed Tinubu to file their responses to all pending applications in the case instituted by the Allied Peoples Movement (APM).
The Independent National Electoral Commission (INEC), declared Tinubu winner of the 25 February presidential election.
But the APM, among other opposition political parties with their presidential candidates, is urging the court to nullify Tinubu’s victory on account of “his non-qualification as a candidate of” the APC.
At a pre-hearing session of the court yesterday, after taking submissions from lawyers to parties in the APM’s petition, a five-member panel of the court led by Haruna Tsammani, ordered all parties to file their responses to all pending applications before the next hearing date.
Justice Tsammani adjourned the petition until Thursday for continuation of the pre-hearing session.
Yesterday, APM’s lawyer, Oyetola Atoyebi, a Senior Advocate of Nigeria (SAN), informed the court that his client had responded to questions bordering on the pre-hearing session.
INEC lawyer, Abubakar Mahmoud, a SAN, said the commission, on 5 May, filed its responses to the pre-hearing questions.
“We have three applications listed and we will be moving the applications at the appropriate time,” Mr Mahmoud said.
Lateef Fagbemi, a SAN, who represents the APC and Akin Olujimi, another representing the vice president-elect Kashim Shettima and Mr Tinubu, both said they had responded to the preliminary questions raised by the court.
Similarly, Yomi Aliyu, lawyer to Kabiru Masari who was Mr Tinubu’s running mate, said his client filed responses to the pre-hearing questions on 3 May.
…Adjourns Till Tomorrow to Hear Opposition’s Petitions
The Presidential Election Petition Court, (PEPC), has adjourned pre-hearing in the petitions filed by Peoples Democratic Party (PDP)’ and the Action Peoples Movement (APM) until Thursday
The five-member panel, led by Justice Haruna Tsammani adjourned after listening to the adoption of answers by all the counsel in the petitions.
Atiku and the PDP in the petition dated March 21, 2023 are challenging the outcome of the Presidential election on Feb 25.
Respondents in the petition marked: CA/PEPC/05/2023, are the Independent National Electoral Commission (INEC) as 1st Tinubu, 2nd and the APC as 3rd.
At the resumed pre-hearing, Chris Uche, SAN counsel for the petitioners, Atiku and PDP adopted their answers in the pre- hearing filed on April 27.
He added that the filed Motion on notice dated May 7 and served on all the respondents for permission to televise the sitting nationwide.
Counsel to INEC, Abubakar Mahmoud SAN adopted their answers in the pre- hearing information sheet filed on May 2.
Responding to the live coverage, he said they will await for a former response.
Similarly, counsel to Tinubu, Akin Olujimi, SAN adopted their answers in the pre-hearing information sheet filed on May 2.
He added that the have some applications to strike out this petition in addition to others.
Responding to the live coverage prayed by the petitioners, he said they will reply at the appropriate time.
Lastly, Lateef Fagbemi, SAN, counsel to APC also adopted their answers filed their answers on May 2.
In paragraph 14 of the answers the 3rd respondent on May 8 filed two applications, one seeking the competent of the petition and dismissal of the petition.
He added that the 2nd one is seeking the striking out of the answers by the petitioners.
Responding to the motion for live coverage by the petitioners, he said they will reply at the appropriate time.
The panel led by Justice Haruna Tsammani adjourned until Thursday for continuation of the pre-hearing session at 2 pm.
He advised parties to harmonise their answers for consideration at the next adjourned date.
He added that the motion for live coverage by the petitioners filed on May 7 will be considered along others.
Similarly, The Allied Peoples Movement (APM) in a a petition marked CA/PEPC/04/ challenging the outcome of the Feb 25 presidential election was also heard.
The respondents are Independent National Electoral Commission (INEC), Action Progressives Congress (APC), Sen. Bola Tinubu, Sen. Kashim Shettima and Kabir Madari.
Counsel to the petitioners, S.A. Abubakar told the panel that on the behalf of the petitioners filed on April 21 and adopted it as answers to rely on during the proceedings.
Abubakar Mahmoud, SAN counsel to INEC adopted their answers filed on May 5 as their response to the petition.
Lateef Fagbemi, SAN, counsel for APC also adopted their answers filed on May 2,
He however, informed the panel that they filed two motions on May 8 which would be taken at the appropriate time.
Akin Olujimi for Tinubu and Shettima also adopted their answers filed on May 3.
Lastly, Mr Toni Aliyu, SAN also adopted their answers filed on May 2 with two applications to be heard at the appropriate time.
According to the APM, Tinubu and Shettima were not qualified to contest the election on the grounds of the alleged double nomination of the vice president-elect.
The panel headed by Justice Haruna Tsammani after listening directed parties to harmonise their answers and consider what to be taken and not.
He further adjourned the pre-hearing until Thursday.
Tinubu Asks Tribunal to Dismiss APM Petition
The President-elect, Bola Tinubu, has asked the election tribunal to dismiss the petition filed by the Allied Peoples Movement (APM).
At the pre-hearing session, the Allied People’s Movement informed the court that they have filed a pre-hearing information sheet TF 008, and had adopted the answers therein.
Counsel to Tinubu, Akin Olujimi told the tribunal, that their response contains a prayer seeking the tribunal to dismiss the petition over claims of tit lacking merit.
The presidential election petitions tribunal would adjourn pre-hearing till May 11.
Chairman of the panel, Justice Haruna Tsammani, who adjourned the petition yesterday, asked parties to draw out the issues for determination.
He also ordered that parties should consider the documents they are objecting to and the ones they are not.
All responses should be filed so they can be heard.
The respondents – Independent National Electoral Commission (INEC), All Progressives Congress (APC), the President-elect, Bola Ahmed Tinubu and his Vice, Senator Kashim Shettima, as well as Kabiru Masari told the court they have filed their various answers to the questions in the petition.
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
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.
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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