Reps Order Arrest Of WAEC Officials

Babatunde Solanke

Four officials from the West African Examination Council on Tuesday were arrested by the Nigeria Police Force.

This act was taken on the orders of the House of Representatives Committee on Basic Examination Bodies.

The following officials appeared before the panel to account for their expenditure: Amos Dangut, Head of the National Office of WAEC Nigeria, representing the Registrar; Angus Okeleze, Senior Deputy Registrar; Victor Odu, Acting Director of Finance; and Segun Jerumeh, Deputy Director of Finance.

Their arrest was sequel to a motion moved by a member of the Committee Uchenna Okonkwo after the officials failed to give satisfactory responses to enquiries posed by the panel.

During the investigative hearing, a heated argument arose between WAEC officials and lawmakers. Dangut argued that the West African Examination Council (WAEC) was not a government agency and therefore not accountable to the parliament.

Replying,the lawmakers maintained that WAEC Nigeria was established by an Act of the National Assembly and, as such, was obligated to account to the parliament, which represents the people.

“Mr. Okonkwo proposed, ‘I move that, pending the investigation into the activities of WAEC Nigeria, the guest before us be taken into custody and held at the police post while we work towards resolving the issues they are presenting to Nigerians.”

The motion was seconded by the member representing Brass/Nembe Federal Constituency, Bayelsa State, Marie Ebikake.

This did not go well with the WAEC representatives as they protested the action of the House Committee.

Despite their protest, they were led away by the Sergeant at Arms of the National Assembly and detained for about 15 minutes.

But,after a brief closed-door session, the Committee ordered their release and mandated them to go home and prepare for another appearance.

The Committee Chairman, Oforji Oboku, urged them to come along with the audited statement of accounts of the examination body from 2018 to 2024 at a date that will be communicated.

He also directed that they must present relevant documents concerning the N5bn loan, WAEC got in 2022 to buy customised calculators, among others.

The Chairman warned that WAEC cannot operate outside the supervision of the National Assembly, saying, “You are not different from any other agency. We are not here to witch-hunt you. WAEC is subject to Nigeria’s laws. We have reviewed the position and we have all the powers to oversight you. You cannot come here and say WAEC is not an agency of government.”

CBN Hikes Monetary Policy Rate  To 26.75%

Mohammed Shosanya
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its 296th meeting Raised the Monetary Policy Rate (MPR) by 50 basis points to 26.75 per cent from 26.25 per cent.

According to a communique issued after the meeting by the Central Bank of Nigeria (CBN), the Committee also adjusted the asymmetric corridor around the MPR to +500/-100 from +100/300 basis points, and retained the Cash Reserve Ratio of Deposit Money Banks at 45.00 per cent and Merchant Banks at 14 per cent, while retaining the Liquidity Ratio at 30.00 per cent.

The CBN Governor, Olayemi Cardoso, noted that the Committee’s decision was guided by some significant facts adding that it was mindful of the effect of rising prices on households and businesses and expressed its resolve to take necessary measures to bring inflation under control.

“It re-eemphasized its commitment to the Bank’s price stability mandate and remained optimistic that despite the June 2024 uptick in headline inflation, prices are expected to moderate in the near term. This is hinged on monetary policy gaining further traction, in addition to recent measures by the fiscal authority to address food inflation.

“In its consideration, the Committee noted the persistence of food inflation, which continues to undermine price stability. It was observed that while monetary policy has been moderating aggregate demand, rising food and energy costs continue to exert upward pressure on price development. The prevailing insecurity in food producing areas and high cost of transportation of farm produce are also contributing to this trend. Members were, therefore, not oblivious to the urgent benefit of addressing these challenges as it will offer a sustainable solution to the persistent pressure on food prices.

“Also noted in its consideration, is the increasing activities of middlemen who often finance smallholder farmers, aggregate, hoard and move farm produce across the border to neighbouring countries. The Committee suggested the need to put in check such activities in order to address the food supply deficit in the Nigerian market to moderate food prices. The MPC, therefore, resolved to sustain collaboration with the fiscal authority to ensure that inflationary pressure is subdued.

“In addition, the Committee expressed optimism with the recent stop gap measures by the Federal Government to bridge the food supply deficit. In particular, the 150-day duty free import window for food commodities (maize, husked brown rice, wheat and cowpeas), amongst others, will moderate domestic food prices.

“It is noteworthy that these measures will not lead to direct injection of liquidity into the economy as to cause further inflation.

“While the measure is a welcome development and may prove effective in the short run, it is expedient that it is implemented with a defined exit strategy to avert a possible rollback of the recent gains in domestic food production.

“To support these initiatives, the Bank is already engaging Development Finance institutions like the Bank of Industry (BOI) to ensure adequate support to industries with a focus on Small and Medium Scale Enterprises (SMEs).

“The MPC noted the narrowing spread between the various foreign exchange segments of the market, an indication of price discovery and improved market efficiency, thus reducing opportunities for arbitrage and speculation.

“The Committee noted that the increase in the level of external reserves would further build confidence for a more stable exchange rate and thus urged the Bank to explore available avenues to improve inflows, especially through diaspora remittances.

“In addition, Members noted the efforts of the Federal Government and private sector towards improving domestic refining capacity as this is expected to reduce foreign exchange currently being expended on the importation of refined petroleum products.

“The MPC noted the sustained resilience of the banking system, reflected in improvements of key financial soundness indicators (FSIs). Members further encouraged the continued need for close monitoring of the system, as the implementation of the recapitalization exercise progresses.

“To consolidate on the gains thus far achieved, the Committee re-emphasized its commitment to stay on course with its tightening cycle in view of the urgent need to address inflationary pressures.

“According to the National Bureau of Statistics, domestic headline inflation rose marginally to 34.19 per cent in June 2024 from 33.95 per cent in May 2024, driven by the continued rise in the year-on-year components of food and core inflation.

“Similarly, month-on-month headline inflation rose to 2.31 per cent in June 2024, from 2.14 per cent in the preceding month. The food and core components rose to 2.55 and 2.06 per cent in June 2024 from 2.28 and 2.01 per cent in May, respectively.

“Real GDP (year-on-year) grew by 2.98 per cent in the first quarter of 2024, compared with 3.46 per cent in the fourth quarter of 2023, driven by both the oil and non-oil sectors. Staff forecasts, however, suggest that the domestic economy will grow by 3.38 per cent in 2024, while the IMF has projected growth at 3.1 per cent in 2024.

“As of July 18, 2024, external reserves stood at US$37.05 billion, compared with US$34.70 billion as at end-June 2024. This represents eleven (11) months of import cover for goods and services.

“The global economy, according to the IMF, is forecast to grow at 3.2 and 3.3 per cent in 2024 and 2025, respectively. Headwinds to the global projection remain the tight global financial conditions and ongoing geopolitical tensions associated with the wars in Gaza and Ukraine, both of which have significant impact on commodity prices and the global supply chain.

“Global inflation is forecast to continue to decelerate marginally in 2024 but may stay above the long-run objectives of most advanced economy central banks”.

Disclose Identity Of NNPC Staff Owning Blending Plant In Malta,NNPC Tells Dangote

Mohammed Shosanya

Group Chief Executive Officer, NNPC Limited, Mele Kyari has asked the President, Dangote Industries, Alhaji Aliko Dangote to disclose the identity of workers of the company,whom.he claimed owned blending plant in Malta.

He said they should be made known to relevant government security agencies for necessary actions.

Dangote had accused some NNPC workers to have established a blending plant in Malta thereby impeding procurements from local production of Petroleum products.

In a tweet on X, Kyari said: “To clarify the allegations regarding the blending plant, I do not own or operate any business directly or by proxy anywhere in the world with the exception of a local mini Agric venture. Neither am I aware of any employee of the NNPC, that owns or operates a blending plant in Malta or anywhere else in the world”

Kyari also clarified that a blending plant in Malta or any part of the world has no influence over NNPC’s business operations and strategic actions.

“For further assurance, our compliance sanction grid shall apply to any NNPC employee who is established to be involved in doing so if availed and I strongly recommend that such individuals be declared public and be made known to relevant government security agencies for necessary actions in view of the grave implications for national energy security”, he stated

NERC Unveils Framework To Support  Renewable Energy Investors

Mohammed Shosanya

The Nigerian Electricity Regulatory Commission, NERC, Sanusi Garba, has announced that the Commission has established regulatory frameworks to support investors in renewable and distributed energy generation.

Speaking at the Summit on Accelerating Scale-up of Renewable and Distributed Energy Resources in Nigeria, its chairman,Sanusi Garba emphasized NERC’s commitment to creating an enabling environment for investors to tap into the country’s vast renewable energy potential.

He paffirmed the Commission’s commitment to effectively drive actions to promote the expansion of renewable and distributed energy access in Nigeria, noting that Nigeria’s mini grid regulation by NERC was widely regarded as one of the best in the world.

“Nigeria’s quest for accelerated scale-up of distributed and renewable energy is not without challenges. We have regulatory frameworks designed to provide clarity and certainty for investors, ensuring that they can confidently invest in renewable energy projects and contribute to Nigeria’s sustainable energy future,” he said.

The key frameworks and guidelines, acording to him, include “Electricity Act 2023, which enables NERC to promote all forms of renewable energy through regulation and licensing.

“Supplementary Order to MYTO 2024, requiring DisCos to procure a minimum of 10 percent of their 2024 load allocation from embedded generation, with at least 50percent sourced from renewable energy sources.”

He expressed optimism that efforts and deliberations at the summit will provide a platform for the electricity framework to promote energy access, enhance energy security, inclusive growth and accelerated access to electricity.

The representative of the European Union delegation, Godfrey Ogbemudia, said the EU has partnered with Nigeria to promote renewable energy since 2008 and has put €200 million in grants up until 2020.

He said by 2021, the EU renewed its ability to fund renewable energy with €100 million to fund some 400 renewable energy projects that will benefit five million Nigerians and reduce carbon emissions.

“Let me commend NERC for taking bold steps and being innovative to promote renewable energy in Nigeria,” said Ogbemudia.

Declaring the summit open, the Minister of Power, Chief Adebayo Adelabu, commended the Nigerian Electricity Regulatory Commission, NERC for partnering with key stakeholders to hold the summit when such discussion was needed most.

“In a special way, I want to commend NERC for putting up this summit. This summit is an important step and in full alignment with President Bola Ahmed Tinubu’s presidential priorities highlighted in the Renewed Hope Agenda to develop a sustainable energy sector for the country.

“It is expected that intellectual discourse, such as this summit we are gathered here today, will highlight and expose the strategies, regulations and bankable financing arrangements that can be leveraged to deliver our target 30 gigawatts of power supply capacity by 2030 of which 30 percent are from renewable energy.”

FG Injects N1trn Into Manufacturing Sector

Babatunde Solanke

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun,Tuesday said the federal government has
injected palliatives worth one trillion naira into the manufacturing sector within the last one year.

This is coming on the heels of a declaration by the Chairman of the Federal Inland Revenue Service ( FIRS) Mr Zacch Adedeji, that the series of legacy projects by President Bola Ahmed Tinubu are geared towards putting in place infrastructure to make the sector more viable.

The duo stated these on Tuesday during a public fun hearing on the Finance Act ( Amendment ) Bill 2024, organized by the National Assembly joint committee on Finance.

The Minister,in his response to request made by members of the Committee that the manufacturing sector be considered as beneficiary from the proposed tax on banks forex windfall tax said the sector has already been taken care of.

“Palliatives worth N1trillion have been injected into the manufacturing sector within the last one year with attendant positive results in terms of reinvigoration,” he said.

Earlier in his presentation to the joint committee Chaired by Senator Sani Musa (APC Niger East), the Chairman of FIRS, Zacch Adedeji said the proposed one time windfall tax is geared towards redistribution of wealth which according to him, would be beneficial to the various sectors .

He,however,explained to members of the joint committee that strategic programmes of President Bola Tinibu led federal government , are targeted at reinvigorating the manufacturing sector .

“Accelerated stabilization fund focusing on helping the manufacturing sector are already being doled out aside legacy projects strategically targeted at making the sector more vibrant and viable.

” Some of these strategic projects that would, in terms of infrastructure, reinvigorate the sector , are the Badagry – Sokoto Highway which would make journey from Badagry to Sokoto 11hours

“Also, Lagos – Calabar Coaster Highway is another strategic road infrastructural project that will bring about the required connectivity for reinvigoration of the manufacturing sector.

“The plan of President Bola Tinubu on the economy , manufacturing sector and development generally is very robust,” he said.

Sharing percentage from the one time windfall tax between the federal government and the banks , was however not agreed upon before the Minister , the FIRS boss and representative of the Governor of Central Bank of Nigeria ( CBN), were excused from the meeting .

Protect Dangote Refinery, Manufacturers Tell FG

Mohammed Shosanya

The Manufacturers Association of Nigeria,MAN,has emphasized the need for the Federal Government to protect and support Dangote Refinery to enable it thrive.

Its Director-General, Segun Ajayi-Kadir, expressed this in a statement on Tuesday, wherein he faulted the recent controversial remarks of the Nigerian Midstream and Downstream Petroleum Authority,on the diesel of Dangote Refinery.

The Dangote Refinery,he said, will play a significant role in reducing Nigeria’s dependence on imported petroleum products, reduce cost and energy poverty and significantly boost our energy sufficiency.

He said:”This is also a company in which Nigeria and Nigerians are shareholders. We should never encourage or promote a preference for imported products over local alternatives. This amounts to importing poverty and exporting prosperity.

“As you are aware, the manufacturing sector is beset with multifaceted challenges. They include: high cost of electricity, high cost of compliance with regulatory requirements, lack of access to financing, unfavorable foreign exchange and unfair competition from imported and smuggled products.

“It is therefore imperative that the Nigerian government takes proactive steps to address these binding constraints in order to improve the competitiveness of local industries and enhance their contribution to the Gross Domestic Product”.

He added that local investors are not only drivers of economic growth but also champions of national development.

The investors,he said,are the mirrors of the country’s national industrial aspirations and their wellbeing is the attraction for both local and foreign would-be investors.

According to him,there is hardly any major foreign investor that would be encouraged to invest in Nigeria by the recent unwarranted castigation of Dangote Refinery.

He maintained thatsupporting and protecting local investors like the Dangote Refinery, would be sending a clear signal to foreign investors to take advantage of the conducive environment and invest, thereby creating jobs and building a more prosperous future for Nigerians.

He called for caution from major actors, government agencies and regulators in the oil and gas sector of the economy over the recent debunked allegations of poor quality of diesel leveled against Dangote Refinery.

He said,it is expected that agencies of government, that provide regulatory oversight functions should promote an enabling business environment for local investments to thrive.

He added:”No regulatory agency should be seen to be casting a shadow over a home grown investment like the Dangote Refinery. The allegations of poor quality, monopolistic tendencies and non issuance of license have since been roundly debunked.

“There may then be the need to issue a clarification that absolves the Dangote Refinery of the negative perception generated by the news report”

He said that,local investors in Nigeria, particularly the Dangote Industries Limited (DIL) play a vital role in driving economic growth, they pay taxes, they create jobs and foster development within the country.

Hunger Protest:Police Won’t Tolerate  Violent Protesters -IGP

Mohammed Shosanya

The Inspector-General of Police, IGP Olukayode Egbetokun,says the Nigeria Police Force (NPF) will not sit back and watch extremists unleash violence on Nigeria and destroy any national critical infrastructure and assets again.

He spoke in an address during an emergency conference with strategic managers of the force which took place on Tuesday at the Goodluck Jonathan Peace Keeping Hall, Force Headquarters, Abuja.

He also warned hoodlums who might want to take laws into their hands in the name of protests to have a rethink, saying the Force will not watch them burn the country.

He said: “I want to address an issue of urgent national importance which appears to have gained some momentum – particularly on the social media in the past few weeks.

“Some groups of people, self-appointed ‘crusaders and influencers’ have been strategizing and mobilizing potential protesters to unleash terror in the land under the guise of replicating the recent ‘Kenyan protest debacle’.

“Whilst the Force acknowledges right to peaceful protest as enshrined in our constitution, we must ensure that these protests do not snowball into violence or disorder.

“As a nation, we have had more than our fair share of violent protests with rather dastardly consequences. The last #EndSars protest led to wanton destruction of public assets, including police stations, courts, transport infrastructure and loss of several lives.

“Tales of sorrow, tears and blood followed what was supposedly intended to be a well-intentioned exercise. Rather than to lead to any positive outcome, #Endsars merely aggravated crime rates and insecurity in several parts of the country.

“Indeed, we are yet to fully recover from the huge economic losses and deep seated psychological and emotional trauma inflicted upon our people by those protests.

“Hence, our position is that the proposed violent protests are ill-advised and should be jettisoned forthwith. We have the responsibility to protect properties and everyone, irrespective of their race, colour, ethnic, or tribe, who are lawfully embarking on their daily activities.”

He reiterated that, “We will, therefore, not sit back and fold our arms to watch violent extremists unleash violence on our peaceful communities, and/or destroy any of our national critical infrastructures and assets again.

“We have mapped out plans to ensure that no individual or group succeeds in fostering a reign of terror and or anarchy on other law abiding and peace-loving Nigerians.”

He warned hoodlums who might want to take laws into their hands in the name of protests, to have a rethink as the Force “will not fold our arms and allow our beloved country to be set on fire.

“Our duty is to protect lives and property of citizens and this we will do in the most professional manner. We will however continue to protect the rights of citizens to peaceful protests as we have done in previous protests.

“My honest advise is for Nigerian youths to avoid being used and lured to unwittingly do the biddings of those who are promoting selfish and inordinate ambition.”

Earlier,the IGP said, the strategic meeting was convened to assess our nation’s security situation and review their operational strategies to address emerging critical internal security issues in our country.

Apart from the threats of terrorism, banditry, oil theft, armed robbery and kidnapping, which we are currently battling away with other security agencies, he disclosed that, the spate of vandalism and theft of public assets is of grave concern and demands urgent attention and intervention at this critical time in our nation’s chequered history.

He emphasized that the Police will also seize the opportunity of this conference to deliberate on its preparedness for the launch of the Nigeria Police Green Initiative (NPGI) later this week.
Accordingly, he stressed that, “As part of the global community, we are currently beset by our own share of complex and multi-faceted security challenges.

“However, I must remind us again that the Nigeria Police as an institution must be undaunted and unrelenting in confronting these challenges thereby providing a reasonably safe haven for our people across the land.

“It is gratifying to note that the strategies deployed and duly executed by our officers and their undiluted passion and commitment have yielded significant results across the length and breadth of our nation.

“Undoubtedly, the results achieved by our men and officers within the past months have accentuated the stability of the internal security order of the country. This is clearly evidenced by the steady decline of crime rates over the past few months.”

He also explained that, a review of the monthly Major Crimes Returns table revealed a significantly positive outlook – a drop in the Major Crimes reported in in the last one month which stood at 416 compared with 734 and 530 for the months of May and June respectively.

Besides,he stated that, the Force recorded remarkable successes in the fight against criminalities in the last one month manifesting in the arrest of a total of 1,284 suspects nationwide.

“We also recovered 284 firearms, 6,702 ammunition, 107 vehicles, and rescued 97 kidnapping victims. The Force PRO will brief the press in details of this.
“We have taken steps to reorganize and reposition the IGP Special Task Force on Petroleum and Illegal Bunkering (IGP-STFPIB) to enhance their operations as part of efforts towards curbing the menace of oil thefts in Nigeria.

“Meanwhile, the Task Force has done enormously well within the period recording 13 incidents of interceptions of suspected stolen crude and arrests of the perpetrators as well as seizures of exhibits.

“Most of the cases are already in courts for timely dispensation of justice. It is imperative for me to mention here that the achievements recorded are the outcome of cooperation and collaboration with members of the public and other security agencies.

“They are also testaments to your dedication and professionalism. I therefore extend my appreciation to all Nigerians for their support and commend our personnel for delivering excellent policing services to our nation, despite various challenges.”

Commending the dedication and accomplishments, of officers of the Force, the IGP said, “I want to use this opportunity to reiterate the commitment of the leadership to your wellbeing.

“We recognize the hard work and sacrifices that you make and we are committed to ensuring that your welfare is prioritized. I equally wish to assure you of the unrelenting commitment of the Federal Government of Nigeria, led by President Bola Ahmed Tinubu, GCFR to enhanced welfare for Police Officers.

“A new welfare program is being put together for the benefit of Police officers. These include the provision of affordable housing and enhanced insurance scheme, a new welfare provision for family members of deceased police officers who lost their lives in line of duty, and others which details will be unfolded soon.

“At this juncture, I want to take our attention to the issue of pervasive vandalism and theft of public properties and components of critical public infrastructure such as manhole covers, rail lines, and public lights, etc; with its devastating negative consequences on national development.

“Pipeline vandalism, in particular, has resulted in significant economic losses, environmental degradation, and loss of lives. The theft of manhole covers has led to accidents, injuries, and even deaths, while the destruction of rail lines has disrupted transportation and hindered economic activities.

“The vandalism of public lights has created an atmosphere of insecurity, emboldening criminals and perpetuating crime. You are therefore directed to redouble your efforts in addressing this scourge and give adequate protection to public properties within your respective Commands.

“You should mobilize your resources effectively, enhance your intelligence-gathering capabilities, and work in close collaboration with other security agencies to nip all these in the bud.
“On Thursday, 25th July, 2024, we will formally launch the Nigeria Police Green Initiative {NPGI} – which we had discussed at some of our previous meetings. A green initiative in policing refers to the adoption of environmentally friendly practices, technologies, and policies that minimize the negative impact of policing activities on the environment.

“This includes reducing energy consumption, reducing waste, and promoting sustainable transportation. We considered delving into energy security and championing some aspects of advocacy for green economy through an initiative we publicly declared at the last COP28 held in Dubai last year 2023.

“Since then, we have been consulting widely, alongside our technical partners, on the project, and we hope to see the Force solving some humanity problems and simultaneously improving the livelihood of all Nigeria residents.

“The initiative will contribute greatly to our operational efficiency and well-being as Police family. We hope to extend our gestures to other law enforcement agencies in Nigeria and beyond, as we make progress on the project

He,however, expressed sincere gratitude to President Bola Ahmed Tinubu for the unwavering support his administration has given to the Nigeria Police Force.

According to him, “We are deeply appreciative of the President’s security sector reform agenda, which has been a significant source of motivation for us. His leadership and commitment to nation-building has been a beacon of hope for our country, and we are honoured to serve under his guidance.

“I would like to express my heartfelt appreciation to all well-meaning Nigerians for their understanding and support. I also commend the personnel of the Nigeria Police Force across all ranks, for their dedication to our shared policing vision and their tireless efforts at implementing strategies to restore internal security.

“I congratulate all members of the Nigeria Police Force, over the recent positive rating by the United Nations Office on Drugs and Crime (UNODC), as the most improved agency in anti-corruption in Nigeria.

“The report is a testimonial to our commitment to changing the present police narratives in the country. I urge you all to show more commitment to upholding the highest standard of integrity and public trust in the discharge of our duties. I am confident that the 2025 report will be better.”

While the Force has made notable progress in combating crime and criminality, Egbetokun noted that, “our work is far from being over.”

The Police boss charged all officers and men to increase their level of commitment to duty and scale up service delivery in their respective Commands, saying, “Together, we can build a safer and more secure Nigeria for all.

“We cannot overemphasize the fact that peace and security are relations which must be harboured by all and sundry. We all have our parts to play in order to enjoy the tranquillity of life. Let me use this medium to appeal to the media practitioners to kindly ensure that they do not heat up the polity with their reportage.

“As the guardians of peace, the protectors of the innocent, and the defenders of justice, it is our duty to serve the nation with unwavering commitment, undisputable fairness and unrelenting diligence.

“Let us work together harmoniously to overcome the challenges bedevilling our beloved country. Together, we can navigate these challenging times and emerge stronger and more resilient.”

Reps Approve N70,000 Minimum Wage Bill

Mohammed Shosanya

The Federal House of Representatives on Tuesday considered and passed a bill, raising the new minimum wage for Nigerian workers from N30,000 to N70,000.

The House resolution was sequel to the consideration and approval of the executive bill transmitted to both chambers of the parliament by President Bola Tinubu, read on the floor of the Green Chamber by the House leader, Prof Julius Ihonvebere.

The proposed legislation gives legal backing to the N70,000 minimum wage recently approved by the President after weeks of a face-off with labour unions over a new minimum wage.

The Nigeria Labour Congress and the Trade Union Congress had both threatened a nationwide strike in the event of the failure of the Federal Government to approve a new wage for workers. The unions in several statements lamented the hardship in the land, fueled by the removal of subsidy from the Premium Motor Spirit also known as fuel, and the rising cost of goods and services.

The Federal Government on June 7, 2024, increased its offer for the new minimum wage for workers from N60,000 to N62,000 but the unions insisted on ₦250,000; a development that led to further negotiations until the government’ offer of N70,000 was accepted last week.

At Tuesday’s plenary, the bill was speedily passed through the first and second reading stages, leading to the consideration of the report and final passage to pave the way for the immediate implementation of the new minimum wage.

The bill replaces the National Minimum Wage Act, No. 8, 2019 which provided for N30,000 minimum wage, with five years to negotiate a new wage.

Besides,yhe House also passed the Police Act amendment Bill which was also transmitted to the parliament on Tuesday by President Tinubu.

The amendment created a new subsection (8A) which provides that “Notwithstanding the provisions of sub-section (8) of this section, any person appointed to the office of Inspector-General of Police shall remain in office until the end of the term stipulated in the letter of appointment in line with the provisions of Section 7(6) of this Act”.

The House therefore, adjourned for seven weeks, to will resume parliamentary duties on Tuesday, September 17, 2024.

Infractions: FG Collects $110m Fine From Tobacco Firms

Mohammed Shosanya

The British American Tobacco Nigeria Limited (BATN) and other affiliated companies have paid the fine of $110 million imposed on them by the Federal Competition and Consumer Protection Commission (FCCPC) for infractions of several laws in Nigeria.

Dr. Adamu Abdullahi, Acting Executive Vice Chairman (EVC) of FCCPC, confirmed this on Tuesday during a media briefing in Abuja,

He disclosed that BATN has completed the payment in two instalments, one in January and the other in March, 2024.

Last December,the Federal Competition and Consumer Protection Commission (FCCPC) had fined British American Tobacco Nigeria Limited (BATN) and other affiliated companies $110 million for “infractions” of several laws.

In a statement on Tuesday,FCCPC said the affiliated companies are British American Tobacco Marketing (Nigeria) Limited (BATMN), British American Tobacco Plc, and British American Tobacco (Holdings) Limited.

Describing the companies as BAT parties,the commission said they contravened the FCCPC Act, and the National Tobacco Control Act, among others.

Sequel to an investigation that began on August 28, 2020, the Commission said it reached a final resolution with the companies in late 2023.

Shedding light on the fine during a media briefing, Abdullahi said “The full $110 million was paid at the official exchange rate at that time through the Central Bank of Nigeria (CBN).

“The Federal Government received 40 percent of the amount, while 60 percent went to the FCCPC.”

He described the case as water tight, adding that FCCPC conducted thorough investigations on the Tobacco company.

FCCPC said it initiated the investigation based on credible intelligence, which called for a broader and deeper inquiry into the companies’ conduct.

Upon satisfying the Federal High Court that there was probable cause and sufficient evidence to exercise advanced investigatory tools, FCCPC said “the court issued an order and warrant of search and seizure.”

Abdullahi further revealed that the FCCPC is currently monitoring the activities of another major tobacco company for compliance with international conventions, the National Tobacco Control Act, and regulations, and to prevent potential anti-competitive practices.

He said: “The Commission has launched a multi-faceted campaign to combat underage tobacco use and protect vulnerable populations.

“Key initiatives in this respect include the “Don’t Burn Their Future” advocacy programme, the “Faith and Fortune” television series, and a retail shop campaign across 10 States.”

Speaking on his achievements as the Acting Executive Vice Chairman in the last seven months, he said: “In this period, we have actively worked to prevent anti-competitive practices, protect consumers, and foster a competitive market,”

“Our efforts included enforcing the Federal Competition and Consumer Protection Act (FCCPA), reviewing mergers, conducting investigations, and engaging in consumer and business education.”

“To address public concerns over soaring food prices, he said “the FCCPC implemented measures to curb price gouging, promote fair competition, and protect consumers.

“We monitored markets, partnered with stakeholders, enforced pricing transparency, and sensitised consumers.

“We also took action against underweight bags of rice, the sale of expired goods, cement price hikes, substandard iron rods, and alleged discriminatory practices in a Chinese supermarket.

“These efforts underscore the government’s dedication to safeguarding Nigerian consumers and fostering a fair marketplace.”

Commenting on the digital money lending industry, Abdullahi maintained that the Commission has continued to advocate the rights of Nigerian consumers, particularly in the digital money lending industry, while implementing the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending to regulate the activities of Digital Money Lenders (DMLs), otherwise referred to as loan sharks.

According to him, “These steps include ensuring that all DMLs register with the FCCPC, operate legally and are identifiable, ensure fair treatment of borrowers, transparent loan terms and conditions with no hidden fees, observe a cap on punitive interest rates to prevent exploitation and engage in responsible lending practices to avoid overburdening borrowers.”

Akwa Ibom: Police Burst Secret Mortuary Armoury, Arrest Kidnapping Leader

Mohammed Shosanya

The Akwa Ibom State Police Command has uncovered an armoury concealed within a private mortuary in Ekeya, Okobo Local Government Area.

Commissioner of Police, CP Waheed Ayilara,disclosed this during a press briefing at the Command Headquarters in Ikot Akpan Abia, Uyo, on Tuesday.

The operation,he said,was initiated following the capture of a notorious kidnapper, Ubong Effiong Archibong, known as ‘Condiment,’ who was allegedly behind numerous kidnappings and murders in the state.

“Through credible intelligence and a meticulous investigation, our operatives recovered firearms and ammunition from a private mortuary used as an armoury by the syndicate. The leader of this gang, Ubong Effiong Archibong, and his accomplices are responsible for multiple kidnappings and killings.” CP Ayilara stated.

He listed recovered arsenal to include; Two AK-47 rifles, two G3 rifles, one double-barrel rifle, one single-barrel rifle, five magazines, seven live ammunitions.

In another incident, the police arrested 23-year-old Daniel Edem Okon. He reportedly hired a commercial motorcyclist from Idoro Road to Mbikpon Ikot Edim, only to murder him on a deserted path, bury him in a shallow grave, and steal his motorcycle.

“On July 12, 2024, at about 8:30 pm, our patrol operatives apprehended two suspects, Daniel Edem Okon and Samaila Salisu, on a motorcycle without an identification number near Timber Market, Uyo,” Ayilara said. “After rigorous interrogation, Okon confessed to the murder of the rider, Saviour Anthony Effiong, aged 45.”

“The victim’s decomposed body was later exhumed and deposited in a morgue”,he added

CP Ayilara also paraded several other suspects accused of crimes including kidnapping, rape, trafficking, and vandalism. He assured that all suspects would face justice upon the completion of investigations.