All Posts in "Day: April 18, 2024"

Demolition Of Yoruba Nation Agitators ‘ Buildings In Order,Oyo Govt Insists

Mohammed Shosanya

Oyo state government has on Thursday justified its actions over demolition of building allegedly belonged to the Yoruba Nation agitators.

The state’s Commissioner for Lands, Housing, Survey and Urban Development, William Akin-Funmilayo, stated this while speaking with journalists at the site of the demolished building allegedly belonging to Yoruba Nation agitators.

The government had Tuesday demolished a building located at Toye Oyesola Street, Sagari, Boluwaji area of Ibadan which it claimed belonged the Yoruba Nation agitators who invaded its Secretariat last Saturday.

The commissioner,who conducted journalists round the building said the government pulled it down after obtaining a court order.

He said: “The demolition was carried out two days ago. We obtained a court order from High Court on April 16,2024 to demolish the building, having got information that the Yoruba Nation agitators used the place. This building belongs to them. It houses dangerous weapons.

“The government will give you peace of mind. The government is here to maintain security. We implore the residents to say something when they see something. I will implore them to report any illegal and life-threatening activities to the government.”

Besides,the state government has also demolished an illegal lithium processing factory Idi-Ayure road, Oluyole local government axis of Ibadan.

It was also gathered that the state government has secured a court order to that effect.

admin by — April 18, 2024 in News 0
JAMB To CBT Owners:Arrest Any Parent Found Near Examination Hall

Mohammed Shosanya

The Joint Admissions and Matriculation Board (JAMB) has directed all Computer-Based Test (CBT) centre owners to arrest any parent, found near any of their facilities during the 2024 UTME exercise.

The directive from the Board was issued at the final briefing of the Computer-Based Test (CBT) centre owners, which was held virtually on Thursday.

This directive became necessary following the intrusive disposition of some parents during the Board’s previous exercises,the body said.

According to the Registrar, Prof. Is-haq Oloyede, any parent, who disobeys this order, would not only be arrested but his ward would also be disqualified from sitting the examination.

This measure is necessary as it has been discovered over time that many of these intruding parents are facilitators of examination infractions while others have, by their actions, disrupted the Board’s examinations in the past.

Oloyede also alleged that some miscreants disguise as parents to infiltrate the centres to perpetrate all forms of infractions.

The Registrar disclosed that the Board has directed security operatives to work with the centres to apprehend any meddlesome parent, who come near the centres.

The Board’s helmsman noted that going by the extant national policy on education, a candidate for the examination must have attained the age of 17 years.

“Therefore, it is evident that these parents had not allowed their wards to pass through the classes as defined in the document, hence, the determination to follow their wards to the examination venue with the aim of compromising examination officials.

“At any rate, it is clear to any discerning observer that these parents deserve to be sanctioned as they had obviously ‘smuggled’ underage children into the ranks of those scheduled to sit the examination”.

The Board also availed itself of the opportunity provided by the meeting to advise candidates to jealously guard their personal details, e-mail address, as well as their registration and phone numbers.

It issued the advice against the backdrop of some candidates, who might be enticed into patronising any of those fraudulent websites out there.

Oloyede also informed candidates that if their personal details are found with any of such sites, they would be treated as accomplices and prosecuted.

He said all arrangements have been concluded for the conduct of the 2024 UTME, which will be held in over 700 CBT centres across the nation, stressing that the Board expects a seamless exercise but it has nevertheless made adequate provision to tackle any technical glitch that might occur in the course of the examination.

He warned that if a session experienced any technical challenge, candidates in subsequent sessions would be allowed to sit their examination as scheduled while the candidates in the challenged session would be rescheduled for the last session for the day or the following day or even further depending on the centre schedules.

He cautioned that candidates are to take note of this so that they will remain calm in the event of any disruption. In this wise, any candidate or parent, who disrupt any subsequent session on account of the failure of his/her session, would be disqualified outright from taking the examination.

admin by — April 18, 2024 in Education 0
Alleged 4bn Fraud:Court Orders Trial Of Ex-Anambra Gov, Obiano

Mohammed Shosanya

A Federal High Court in Abuja,Thursday, ordered that a former Governor of Anambra state, Willie Obiano, must face trial in the alleged N4billion criminal charge preferred against him by the Economic and Financial Crimes Commission.

The order was sequel to the dismissal of an application by Obiano, seeking to quash the money laundering charge filed against him by the EFCC.

Justice Inyang Edem Ekwo in a ruling, discountenanced all the grounds of the application filed by Obiano.

The court maintained that all the reliefs sought by Obiano are not grantable because they are “premature and lacking in merit”.

Justice Ekwo stated said that there is no way the court would know whether the former governor is linked with the alleged offences or not unless trial is conducted in line with the provisions of the law.

Obiano had amongst others, asked the court to dismiss the 9-count charges filed against him by the EFCC, claiming there was no connection between the proof of evidence supplied to court by EFCC and the accusations levelled against him.

He insisted that there was no testimony from any witness indicating that he issued directives for the disbursement of security votes and other funds belonging to the Anambra State government, to the tune of above N4bn.

The court has fixed June 24, 25, 26 and 27 for commencement of Obiano’s trial.

Justice Ekwo also granted Obiano’s plea to of 60 days to travel abroad for medical treatment.

The Judge ordered that Obiano be made to sign undertaking to return to the country after the treatment and to deposit his travelling passport within three days of his return to Nigeria.

admin by — April 18, 2024 in Law/Human Rights 0
Cheating: FCCPC Shuts 4U Supermarket In Abuja

Mohammed Shosanya

The Federal Competition and Consuner Protection Commission(FCCPC),has shut 4U Supermarket located in Ademola Adetukunbo Crescent, Wuse 2, Abuja, over unfair practices discovered in the supermarket.

The enforcement team from FCCPC,who raided the popular supermarket discovered some bags of weaven-laden rice, price disparities in some of the items displaced on the shelves of the supermarket and the actual amount of money charged at the counter as well as soon-to-be expired drugs on the shelves, as some of the infractions.

Addressing newsmen at the premises of the supermarket, Dr. Adamu Abdullahi, Acting Executive Vice Chairman/Chief Executive Officer of FCCPC, condemned these infractions and warned that appropriate sanctions would be applied.

Explaining some of the infractions observed in the Supermarket, Abdullahi said: “Nowadays, we have found out that there is a lot of practice in what is happening especially in markets around the major cities in the country.

“You go to the shelves, the price of the product displayed is different from what appears when you come to pay at the counter.

“It is unacceptable, because you are frisking consumers, and some of the buyers don’t even have price tags attached to them at all.

“So, consumers are at the mercy of the whoever is operating the counter, he can put whatever price he wants there, and that’s what the consumers have to pay.

“These are unacceptable. That’s why we are here to ensure that this practice should no longer continue.

“In addition, we found out another thing that really baffles us. Everybody knows that Stallion Group has been comatose for a very long time. We know that there is no Cappa rice in this country.

“What’s happening is that some people bag their own local rice with Stallion bags, pretending that it is the same Stallion or Capp rice that people are used to. This is wrong.”

He ordered the evacuation of 94 weaven-laden bags of rice to the FCCPC office for further investigation.

He assured that monitoring and investigation of unfair practices as well as hike in the prices of goods and services would be extended to other big cities and general markets across the country.

He further condemned the activities of various associations in the markets, adding that more often than not, they arbitrarily fix prices of goods for their members.

He decried a situation where the value of Naira is appreciating against the dollars and the prices of goods in the markets are still rising higher.

He assured that price tracker would be introduced by the Commission across the country to ensure that consumers are not rippled-off by traders.

He said: “We will go to Lagos, Abuja, Kaduna. And these are places that we have to start with. But all the others will have to follow.

“There is going to be what we now call a price tracker. It will take-off at the beginning of next week, where we will drop prices of commodities across the country.

“And whenever there is any hike in the prices of products, we will now have to find out why. If there’s no reason whatsoever for those prices to go up, we will know that some people are playing hanky panky.

“And we will go to the root of it and discover and find out what it is. And whoever is responsible will bear the consequences”.

admin by — April 18, 2024 in News 0
CBN Slashes Loan-To-Deposit Ratio To 50%

Mohammed Shosanya

The Central Bank of Nigeria, CBN has reduced the Loan to Deposit Ratio, LDR of banks to 50 per cent from 65 percent.

The reduction was announced through a circular to Deposit Money Banks titled “Re: Regulatory Measures to Improve Lending to the Real Sector of the Nigerian Economy”.

The circular was signed by Acting Director, Banking Supervision Department, CBN, Mr. Adetona Adedeji.

In line with the new measures, the CBN has reduced the loan-to-deposit ratio by 15 percentage points, down to 50 per cent.

This move aligns with the CBN’s current monetary tightening policies and reflects the increase in the Cash Reserve ratio rate for banks.

All Deposit Money Banks are now mandated to adhere to this revised LDR.

The CBN stated that average daily figures will be utilised to gauge compliance with this directive.

While DMBs are encouraged to maintain robust risk management practices in their lending activities, the CBN has committed to continuous monitoring of adherence and will adjust the LDR as necessary based on market developments.

Adedeji implored all banks to acknowledge these modifications and adjust their operations accordingly. He emphasised that this regulatory adjustment is anticipated to significantly influence the banking sector and the wider Nigerian economy.

The circular read in part, “Following a shift in the Bank’s policy stance towards a more contractionary approach, it is crucial to revise the loan-to-deposit ratio policy to conform with the CBN’s ongoing monetary tightening.

“Consequently, the CBN has decided to decrease the LDR by 15 percentage points to 50 per cent, proportionate to the rise in the CRR rate for banks.

“All DMBs must maintain this level, and it is advised that average daily figures will still be applied for compliance assessment.

“While DMBs are urged to sustain strong risk management practices concerning their lending operations, the CBN will persist in monitoring compliance, reviewing market developments, and making necessary adjustments to the LDR. Please be guided accordingly.”

admin by — April 18, 2024 in Banking&Finance 0
NUPRC Assures Investors Of Robust Regulatory Environment

Mohammed Shosanya

Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday,assured a robust regulatory environment for all players in the gas sector.

He also highlighted the benefits all stakeholders stand to gain through the full implementation of Nigerian Gas Flare Commercialization Programme (NGFCP).

Gbenga Komolafe,the Commission’s Chief Executive, spoke at the Nigerian Gas Flare Commercialization Programme Investors’ Forum which held Wednesday in Abuja with the theme “One Goal – One Team”.

He added:”These projects not only align with international environmental standards by significantly reducing greenhouse gas emissions but also reinforce global commitments to sustainability and climate resilience.

“Socially, they contribute profoundly by creating high-quality local jobs and enhancing community health through the reduction of pollutants emitted by gas flares.

“Economically, these initiatives transform a previously untapped resource into a powerhouse of opportunity, fostering innovation in energy utilization and generating robust revenue streams that bolster the broader economy”.

He recalled that the the Nigerian Gas Flare Commercialisation Programme was launched as a strategic initiative by the Nigerian government with the primary goal of eliminating gas flaring through economically viable solutions, transforming a wasteful environmental challenge into a substantial economic opportunity.

He noted that through the programme, flare gas sites are awarded to competent third-party companies who are to harness this resource for value derivation.

THe reiterated that the Commission is committed to the successful execution of the NGFCP to actualise the attainment of Nigeria’s pledge to end routine gas flaring within this decade and contribute to the reduction of
global emissions.

admin by — April 18, 2024 in Oil&Gas 0