COVER
Rivers Crisis: No Respite as Ijaw Reject Tinubu Intervention
By David Torough, Abuja
Political crisis in Rivers State may have turned into an ethnic struggle as the Ijaw people of the riverine state have rejected the peace accord brokered by President Bola Tinubu.
The president on Monday night brokered truce between the warring parties and an eight-point resolution was agreed upon by the stakeholders.
As part of the resolutions, the governor was directed to recognise the Martin Amaewhule-led faction of the state House of Assembly alongside the 26 members who dumped the Peoples Democratic Party (PDP) for the All Progressives Congress (APC).
Reacting to the peace accord on Tuesday, the South-South Leader, Chief Edwin Clark described the directives issued to Governor Sim Fubara as a resolution of the political crisis as not only appalling but also unacceptable, particularly to the Ijaw ethnic nationality.
The Ijaw leader made the declaration on Tuesday at a press briefing at his residence in Abuja, threatening to take legal action.
He said the eight-point resolution is undemocratic, dictatorial, one-sided, and aimed at handing over the political leadership of Rivers State to the former governor of the state and Minister of the Federal Capital Territory (FCT), Nyesom Wike.
According to him, from the terms of the purported settlement, it is obvious that President Tinubu used his role as a mediator to once again show gratitude to the FCT minister for “delivering” Rivers State to him during the last presidential elections.
He observed that Tinubu had previously gratified Wike by making him the minister of FCT.
Clark noted that the attendees of the meeting were one-sided in favour of the minister while adding that Fubara was ambushed and intimidated into submission.
Clark said, “The terms of settlement as contained in the communiqué issued at the end of the reconciliatory meeting are what is baffling, appalling, and unacceptable to the people, especially the Ijaw ethnic nationality.
“First Observation: The composition of the attendees of the meeting was one-sided in favour of Nyesom Wike, the Minister of the Federal Capital Territory (FCT), because while Martins Amaewhule, a former Speaker (because he automatically lost his seat the very moment he decamped to another political party), was present at the meeting, it would have only been equitable and expedient for Edison Ehie, the Speaker, as affirmed by constitutional provisions and by the granting of the court, to be in the meeting, if the purpose was sincere.
“President Tinubu should know that with all the powers he possesses, he cannot override the Constitution.
“From all that transpired at the meeting, the laws of the land have not been obeyed. President Tinubu simply sat over a meeting where the Constitution, which is the fulcrum of his office as president and which he swore to uphold and abide by, was truncated and desecrated.”
Clark pointed out that the Nigerian Constitution is clear on what should happen to the members of the Rivers State House of Assembly who left the political party on which platform they were
He described the directive to re-submit the names of Commissioners who have resigned their appointments on their own volition as ridiculous.
The former Federal Commissioner of Information also observed that the directive for Fubara to re-present the state budget already passed into law and signed “is absolutely ridiculous and unconstitutional.”
Clark maintained, “By the actions of President Bola Ahmed Tinubu, he has really shown his dislike and disdain for the Ijaw people and confirmed his hatred for them. And as the leader of the Ijaws, we will resist it.”
He vowed that the directive that members of the House of Assembly will choose where they will sit to carry out their legislative duties will be resisted, as according to him, “it is the duty of the executive to provide legislative accommodation for the Houses of Assembly, including the National Assembly, and not the members of the House of Assembly to choose a place to meet.”
Clark accused Fubara of showing “feebleness of character, by agreeing and appending his signature to a document containing such absurdity,” adding, “He has betrayed the people who elected him as governor and those who stood behind him in this cause.
“Mr. Fubara has shown naivety in his actions; by signing that document, he has signed his death warrant, believing that the president will show him some sort of favour. Mr. Fubara’s mandate is constitutional, and so he cannot surrender it in the face of intimidation from any quarter.”
He warned, “We will resist any attempt, subtle, subterranean, covert, overt, to make an elected Ijaw son, Siminialayi Fubara, the Governor of Rivers State, a servant, a stooge to Nyesom Wike, who had boasted that any attempt by the governor to touch his so-called ‘Wike’s structure’, with the connivance and support of President Bola Tinubu, will be resisted by us.”
On Tuesday, all eyes were open to see how the governor would implement the agreements.
While some party faithful criticised the agreement and called on the governor to reject it, others said since Fubara had consented to it, he should go ahead and implement it to ensure peace returns.
In a related development, the National Working Committee (NWC) of PDP went into an emergency meeting over the matter.
The party’s national leadership is said to be worried about the manner Tinubu resolved the rift between Fubara and Wike.
Sources said the meeting was expected to come out with the position of the party on the crisis and the way forward.
Earlier, the Acting National Chairman of PDP, Umar Damagum while responding to questions at a press conference in Abuja on Tuesday hinted that the party leadership would sanction Wike.
Damagum said, “Our stand about Wike, I have always said this thing that as long as you are a member of the PDP, there is a time for everything.
“My duty is to stabilise this party and not to cause crisis. And I will continue to do that within the confines of reason.”
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.
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.
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
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