COVER
Tinubu Receives Certificate of Return as Labour Party Heads to Court
By Jude Opara, Mathew Dadiya, Eze Okechukwu (Abuja), Dan Amasingha (Minna) & Nicolas Dekera (Kaduna)
The Independent National Electoral Commission (INEC) yesterday presented Certificate of Return to President-elect, Sen. Bola Tinubu and Vice President-elect, Kashim Shettima.
INEC Chairman, Prof. Mahmood Yakubu, presented the president-elect and vice with the certificate.
Receiving the certificate, Tinubu urged his opponents and all Nigerians to work with him to make Nigeria a great nation.
“For this to be a victory at all, it cannot simply be a victory for one man or even one party. It must become a victory for all Nigerians who are committed to a greater society.
“I know many did not vote for me and you are disappointed that your candidate is not where I now stand. I understand your hurt. To you, I extend the embrace and comfort of one family member to another.
“This great project called Nigeria beckons to us all. It is bigger and more important than any partisan divide.
“To my supporters, I ask you to continue to have faith in the mission that we have articulated.
“To those who didn’t support me, I ask that you do not allow the disappointment of this moment to keep you from realizing the historic national progress,” Tinubu said.
He said that the citizens can make the country great by joining hands and hearts in common endeavor to pull the nation through.
“In a phrase, I am asking you to work with me. I may be the president-elect but I need you. More importantly, Nigeria needs you.
“My heart and my doors are open to you. I ask you to come in so that we may begin the task of rebuilding our national home together, day by day, brick by brick.
“Where there is poverty, let us create prosperity and jobs. Where there is hunger, let us feed the people, chasing hunger from their midst.
“Where there is now scarcity, let us rediscover abundance. Where there is brutality, may we replace it with brotherhood.
“Where violence stalks the land, may we establish peace. Where others have erected temples to hatred and bias, may we construct permanent monuments to compassion and abiding affection,” Tinubu added.
The president-elect said that the road has been long and battle had been hard fought, but more importantly, he realize that he was just a servant of a larger purpose.
He said that his certificate of return represented a collective democratic attainment, pledging to assume a sacred duty he shall never ignore.
“You see, this is more than a document confirming the positive outcome of an election.
“This important document symbolizes our collective democratic attainment and even loftier aspirations. It represents the impending transfer of a most sacred duty and trust from one person to another.”
Tinubu added that the certificate also symbolisedc that each citizen has the ability to achieve what others believe was impossible for them to achieve.
“I stand before you the president-elect. And yes, that is special. But, I am no different than anyone of you. If I can do this. You can do better. You must do better.
“Our destiny as a people and nation depends on our ability to shed the artificial restrictions of bias and prejudice so that we live fully unto our democratic creed that no one is innately superior or entitled to greater rights and opportunities than any other Nigeria.”
He expressed confidence that very soon, Nigeria shall witness a young person standing before them holding the same certificate he described as a great symbol of democracy and national leadership.
“We shall see a woman standing before you, holding this certificate. We shall experience someone from a tribe that many people have tried to dismiss as somehow beginning disqualified for this high office.
“By hard work, determination and unyielding belief in a noble endeavor, you can achieve the best of things.
“There are young people listening to me right now who shall one day be the leaders of our precious and exceptional democratic republic.”
He also pledged to make Nigeria stand and shine forth as God intended it to be.
“History will record this day as the moment when I officially stood before you as president elect.
“However, I would like to dedicate this day and record it as the moment that we vowed to come together to make Nigeria stand and shine forth at the beloved and brave republic God intended it to be.”
Dignitaries at the event include Vice-president Yemi Osinbajo; Secretary to Government of Federation, Boss Mustapha.
Others were the National Security Adviser to the President, the Inspector General of Police, the President of the Senate, Speaker of the House of Representatives, and the APC National Chairman.
The Independent National Electoral Commission (INEC) yesterday declared Tinubu president-elect.
He polled 8,794,726 out of the 24,965,218 total vote cast, defeating his major rivals; Atiku Abubakar of the People Democratic Party (PDP) who polled 6,984,520 votes and Peter Obi of the Labour Party who secured 6,101,533 votes.
Labour Party Heads to Court
Less than 24 hours after the Independent National Electoral Commission (INEC) declared the candidate of the All Progressives Congress (APC), Asiwaju Bola Tinubu as the winner of the 2023 Presidential election, the opposition Labour Party (LP) said it will challenge the outcome of the election in court.
Vice Presidential candidate of the party, Sen. Yusuf Ahmed-Datti told a news conference that the party won the Presidential election but was denied victory by the federal government and the Independent National Electoral Commission (INEC) who had to engage in illegality to take away their victory.
Ahmed-Datti who expressed confidence that they will reclaim their mandate from the Court also advised the party faithful and supporters to remain calm and law abiding because Peter Obi and himself believe in peace.
“Nigerians should continue to exercise their civic duties. Democracy belongs to the people who can practice it. Nigeria should continue to make effort to practice it. The only language we understand is peace. Obi and I believe even more in Nigeria and Nigerian people.
“We won election in the Federal Republic of Nigeria, they refused to upload the result, they refused to refer to INEC Election Review Portal (IReV) just for them to defeat us. It took a serving government illegality and constitutional breech to defeat Peter Obi and my humble self. Nigerian people are winners and Nigerian people are waiting for a day when Peter Obi and myself, through the rigours of legality and constitutionality will get to power somehow, one day”.
When asked if he still has confidence in the Nigerian judiciary given the complaints by some people because their alleged penchant to deliver frivolous judgements, Ahmed-Datti said; “Irrespective of the low level of confidence we have in the system, your responsibility is your responsibility. Nigerians contested for the 2023 Presidential election through Peter Obi and my humble self, we shall continue to keep the struggle alive irrespective of the low confidence level we have in the judiciary.
“We had extremely low confidence on the promise of the government concerning the election yet we went ahead with the election. So it doesn’t matter how low the confidence level we have in the judiciary but the law is the law.
“But there is a confidence we have in ourselves. The confidence we have in ourselves is that the election so to say, did not hold because from the polling unit, the electoral act 2007 as amended provided the direct transmission of result. It is that direct transmission that shows that elections were held and they were not transmitted. So if there were not results, what election are you talking about?
“Going to the ward collation units, no INEC officer shall make entries without he or she making reference to the existing ongoing concurrent IReV which did not exist. So, how did they collate the results? If there is no valid collation, what result are you talking about, if there are no results what elections are you talking about?
“Illegality has been performed and as far as we are concerned, here is an incoming government of the Federal Republic of Nigeria that is illegal and unconstitutional and we are submitting our case to the court of law and it is for them irrespective of the level of confidence of Nigerians or Africans have in them, it is for them to shore up that level of confidence”.
IBB Congratulates President-Elect
Former Military President of Nigeria, General (retd) Ibrahim Badamasi Babangida (IBB) has congratulated the nation’s president-elect, Asiwaju Bola Ahmed Tinubu over his election as the 16th President of the Federal Republic of Nigeria.
In a statement issued by his media office and made available to DAILY ASSET in Minna, IBB commended the Independent National Electoral Commission (INEC) for midwifing an election, which he said would lead to a new Nigeria.
Babangida commended Nigerians for going out en masse to exercise their voting rights and electing someone like Bola Ahmed Tinubu as the next President of Nigeria.
“It’s a thing of joy that this is happening in my lifetime. I can confidently say that Tinubu is a good man for the job.
“I have no doubt that Tinubu would perform as the President of Nigeria. For some of us, who have been there before, I know that there is still more work to be done, and I believe that Tinubu has what it takes to take Nigeria to the next level.
“We have much potential as a nation, what we need is a good direction so that we can continue to be seen as the giant of Africa. Indeed our best is yet to come, but we can get to where we ought to be with determination and commitment.”
Babangida who has been out of the Country before the Presidential polls, said Tinubu is coming from the background of a performer, who loves his people with all his hearts and who knows how to put a round peg in a round hole.
While urging Nigerians to join hands with Tinubu in the business of repairing the nation, he also appealed to other candidates to see the emergence of the former Lagos Governor as the will of God, saying that the work of nation building requires that all hands must be on deck.
“This is a bright moment for Nigeria, we have to take our destiny in our hands and make things work for us as a nation. We cannot continue to do things the same way, and I believe that God will make things work for this country again,” he said, adding that a new dawn has come for Nigeria.
Vice President, Yemi Osinbajo has congratulated the winner of the 2023 presidential election, Asiwaju Bola Ahmed Tinubu of the All Progressives Congress (APC).
Osinbajo extended his felicitations in a message he sent to the President-elect yesterday in Abuja.
The Independent National Electoral Commission (INEC) had earlier yesterday declared the presidential flag bearer of the All Progressives Congress (APC), Tinubu, winner of the Feb. 25 presidential election.
INEC has also presented the Certificates of Return to Tinubu, and his Vice President elect, Kashim Shettima.
“I warmly congratulate the flagbearer of our great party, the APC, Tinubu, on his victory at the 2023 Presidential Elections, and his declaration as President-Elect of the Federal Republic of Nigeria.
“I also congratulate Sen. Shettima on his declaration as Vice President-Elect of the Federal Republic of Nigeria.
“In your previous years of public service, you have demonstrated a consistent fidelity to progressive and welfarist ideals, and an ability to build bridges across several divides.
“These attributes are needed especially at this time, to reach out to disaffected sections of our society and to meet the aspirational expectations of our young people who have shown such a strong desire to impact our democratic process in a positive way.
“I trust that they will not allow whatever setbacks they may have experienced to truncate their strong desire to determine the future course of our national journey.
“Through thick and thin, we must all remain focused on the objective of birthing the Nigeria of our dreams.
“I pray that Almighty God will help you to fulfil the progressive mandate of our Party, as well as your various plans to improve the security, welfare and happiness of all Nigerians,” he said.
Earlier, while presiding over the weekly Federal Executive Council, the vice president led the ministers to congratulate Tinubu, his wife, Sen. Oluremi Tinubu and the Vice President-Elect, Shettima.
He directed the Secretary to the Government of the Federation to formally convey the felicitations of the council.
The vice president had also attended the formal presentation of the INEC Certificates of Return to both the President-Elect and the Vice President-Elect at the National Collation Center, International Conference Centre, Abuja.
Also yesterday,
President of the Senate, Ahmad Lawan has congratulated the President-elect, Sen. Bola Tinubu and the Vice President-elect, Sen. Kashim Shettima on their election victory.
Lawan stated this in a statement in Abuja yesterday by his Special Adviser (Media), Mr Ola Awoniyi.
He said that the victory affirmed the trust of the Nigerian people in the All Progressives Congress (APC) and its candidates.
“I congratulate the President-elect, Sen. Bola Tinubu, and the Vice President-elect, Sen. Kashim Shettima, on their resounding victory in Saturday’s Presidential Election.
“The Election was hard-fought on all sides. So this victory is very sweet and will be savoured for a long time by our great party, the APC and our supporters throughout Nigeria and across the world,” the statement read in part.
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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