Mohammed Shosanya

The African Development Bank,has commenced activities to celebrate 60 years of its transformative impact on Africa’s development.

Since September 1964 when representatives of 25 African countries gathered in Khartoum, Sudan, to agree on the vision for a bank to drive economic development across Africa, it has been a journey of resilience and passion, including a fair share of bumps and bruises.

Georges Rigobert Aithnard, the Bank’s oldest retiree, captivated attendees at the 60th anniversary commemoration event on Monday 09 September, with his account of the challenges faced by the then-fledgling institution.

Speaking as part of a staff panel discussion, the 89-year-old offered unique insights into the Bank’s formative years.

From his role in 1965 as Personal Assistant to the first President of the Bank, to his retirement as Director of the African Development Institute of the Bank in 1995, Aithnard showed deep enthusiasm for his work and a strong belief in the future of the Bank.

He recalled a time when the Bank president struggled to secure a meeting with the vice president of a sister multilateral development bank.

That has since changed, he told the audience of past and present Bank staff, partners, and senior government officials.

He affirmed that the African Development Bank has emerged as a leader among its peers and a powerful voice within the multilateral development community.

“When I joined the African Development Bank in 1965, the Bank was much more modest than it is today. There has been robust progress over the years,” Aithnard said. “Despite the fears and challenges the Bank faced then, it confronted problems head-on, secured global ratings, and continued to increase its capital. Today, we are delighted that the Bank has overcome its fears to become a global development institution with influence beyond Africa.”

He encouraged the Bank’s staff and management to continue to work hard, make sacrifices, and believe that the institution can make a greater difference in African countries. “Once knocking on others’ doors, the Bank now finds others knocking on its own. The success of the Bank should be an incentive to the staff,” he added.

Dr. Victor Oladokun, Senior Advisor on Communication and Stakeholder Engagement to the President of the African Development Bank Group moderated the discussion, which featured staff representing various levels of the Bank’s structure.

The Bank’s Director General, East Africa Regional Development and Business Delivery Office, Nnenna Nwabufo, described the institution as Africa’s partner of choice.

“The Bank is at the centre of the conversation on Africa’s development. It has become Africa’s partner of choice. When African countries want to discuss development, they come to the African Development Bank because it has become a trusted partner,” she said.

She shared the example of the Bank’s work in fragile states, where it continues to have an impact despite obvious challenges. “In our work with fragile states, we don’t see the challenges, we see opportunities.”

Nwabufo joined the Bank’s Treasury Department in 1991 and has held increasingly senior positions, rising to become a director general in January 2021.

Jerome Berndt joined the African Development Bank as a Young Professional (http://apo-opa.co/3Toueyn) in 2016. He has since progressed to become a Principal Fragility and Resilience Officer in the Transition States Coordination Office.

“The learning and friendships I experienced at the Bank over the years have been the greatest inspiration of my career,” Berndt said.

He commended the strong work and contributions of the Bank’s staff and acknowledged the crucial support of partners. “Some of the Bank’s unsung heroes are the young professionals,” he noted.

Joséphine Sallah Ayari, speaking on behalf of the General Services Staff, and Hannatou Mamane, representing the Short-term Staff, also reflected on their work at the Bank, highlighting the changes initiated by the Bank’s President, Dr Akinwumi Adesina, to support staff progress.

Ayari highlighted how the Bank has overcome many challenges to become a resilient institution where staff are proud to work.

Summing up her thoughts, Mamane said: “We have to be optimistic. We have an optimistic President who has worked very hard to put the Bank at the heart of Africa’s development. As staff, we have a duty to work even harder”.

Mohammed Shosanya

The Inspector General of Police, IGP Kayode Egbetokun has ordered the arrest and investigation of a man dressed in a Spy Police uniform and making unauthorized political statements regarding the upcoming Edo State gubernatorial elections.

Force Spokesperson, ACP Olumuyiwa Adejobi on Wednesday, in a statement said, “The Nigeria Police Force has been made aware of a recent video evidencing political comment by an individual dressed in a Spy Police uniform regarding the upcoming Edo State gubernatorial elections, which has been circulating on social media platforms.

“The NPF strongly condemns this act and clarifies that the individual is not a regular officer of the Nigeria Police Force, but a Supernumerary (Spy) Police Officer employed by a private company.”

According to him, “Supernumerary Police Officers are private individuals trained by the Nigeria Police for specific security functions, primarily within their place of employment.

“They are not on the payroll of the NPF and do not swear to the oath of allegiance like sworn regular police officers, thus they have the right to belong to any political party of their choice and freedom of expression. In this extant case, the Police frowns at the wearing of his official SPY uniform and engaging in political activities.

“The individual involved has been arrested for further investigations. We reiterate that his political comments do not reflect the views of the Nigeria Police, and the public is urged to disregard any such statements and trust in our continued commitment to professionalism, neutrality, and the rule of law.”

Mohammed Shosanya

Any person found guilty of corruption should not enjoy State pardon,Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN),

He spoke at a roundtable organised by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) for state Attorneys General in Abuja on Monday.

He also advised law enforcement agencies against shoddy investigations, urging them to have their facts before summoning anyone for questioning.

“I will suggest in our next constitution review exercise that we expunge those found guilty of corruption from benefiting from powers of ‘Prerogative of Mercy’ to serve as a deterrent to others,” he said.

He said the cooperation of all stakeholders, especially the Attorneys General of States, was crucial in the fight against corruption.

He advised the AGs to eschew nepotism, political witch-hunting, rivalry, and bigotry in the fight against corruption just because they want to please their governors.

Besides,the AGF said there should be no basis for rationalising corruption or crimes, stressing that
their legal opinions on cases must be based on the facts as practised in the advanced countries.

“We should not give in to public sentiments. In Nigeria, we are polarised along political lines” the AGF said.

He advised participants and anti-graft agencies to conduct thorough investigations of cases before arresting suspects to avoid media trials.

“Let us be thorough and take our time before inviting someone for questioning. Don’t do a shoddy job and be quick to say we have caught a big fish…You will catch a big fish.

“If it is two or three big fish you are able to get in a year and you are thorough, it is alright,” Fagbemi added.

In a statement by Kamarudeen Ogundele, Special Assistant to the President on Communication & Publicity,Office of the AGF & Minister of Justice,the AGF also counselled against filing bogus counts of charges against defendants just to generate frenzy in the public against the suspect.

“Nobody wants a 50-count charge…make it five or six and be sure. Make sure you get him (suspect) in,” he said.

Mohammed Shosanya

A former Attorney-General of the Federation (AGF), Mr. Kanu Agabi, SAN has disclosed that the fear of the Economic and Financial Crimes Commission,the Independent Corrupt Practices Commission, the State Security Service, the Federal Inland Revenue Service, the NFIU and the Police has caused many Nigerians to horde their monies at home, instead of taking those monies to the banks.

According to him,the fear has now become a source of “distress to the nation’s economy,” noting that, “The cure is turning out to be worse than the disease.”

He spoke at the maiden ICPC Conference with State Attorneys General on Strengthening ICPC’s Capacity for Corruption Prevention, on Monday.

He declared that: “The time has come when we must encourage Nigerians who have monies abroad to bring such monies back home and invest here, even unconditionally.”

He warned that, “We have to be careful to ensure, as president Obasanjo feared, that the cure does not turn out to be worse than the disease. We have several institutions fighting corruption today, like the ICPC.

“These institutions have done very well indeed and are entitled to be commended. If we appear to be losing the fight against corruption, the fault is not theirs. We blame them only because we are not aware of the successes that they have achieved and are still achieving – the huge billions that they recover daily, the convictions that they obtain, the fear that they instill in potential criminals.”

However, he noted that, “It is this fear that is now becoming a source of distress to the nation. The cure is turning out to be worse than the disease. Fear of the EFCC, the ICPC, the SSS, the FIRS, the NFIU and the Police has caused many Nigerians to avoid the banks.

“It has caused some wealthy people to keep their moneys at home; to convert their moneys into dollars and either store at home or bank abroad. Many make their investments abroad for fear of these institutions.

“The monies that we are recovering as proceeds of crime represent a tiny little fraction of the monies that Nigerians have deposited abroad. If these monies are recovered or recalled and invested in education or power or the provision of infrastructures or directed at making the nation self-reliant, it will not be long before the nation is well on the way to ridding itself of corruption.”

He said:”A time will never come when the nation will legitimize corruption. Let the nation be ever so corrupt, yet, corruption shall remain a crime. While it is with us, and while we seem helpless in the face of it, we must find a way of employing it to move forward.

A wise nation, he said must know how to employ corruption to rid itself of corruption. “Feudal nations employed feudalism to develop their economy. And when feudalism proved insufficient, they resorted to slavery. And when slavery proved intolerable, they resorted to colonialism.

“What greater form of corruption can there be than when one nation colonizes another and pilfers her resources? I do not know what exactly neo-colonialism is but those who know say it is an extreme form of corruption. The economies of the nations that we idolize are all founded on corruption in one form or another.

“These nations have no objection to serving as safe havens for monies stolen from other nations – funds that they turn around to lend to the nations from which the monies were stolen in the first instance.”

Agabi also emphasized that, “Corruption cannot be eliminated overnight. It will take time. We can learn a lesson from those students of ethics who killed a frog by heating the water gently so that the temperature of the water changed imperceptibly. The frog remained in the water until it reached boiling point and died.

“As to the scale of corruption, he revealed that, “We are now at our highest point. All we, like sheep, have gone astray. We are all guilty. After decades of dictatorship, the military spirit is now in many of us. Our democracy is characterized by our misconception of politics as a game without rules.

“We are under the illusion that in politics, somehow good can come out of evil. The end justifies the means. We proceed on the false assumption that politics without force or without fraud cannot produce results. We aim at being strong in numbers without being strong in spirit and in truth. We continue to labour under the illusion that in politics good and bad are equal, that we can fight falsehood with falsehood, or vice with vice. That is the spirit which is at work in the nation now.

“We blame our condition on the economy. We blame it on our politics. We blame it on the social system. Some blame it on the judiciary. I dare say that no economic theories, no political theories, no legal theories are going to save the nation until we admit that we are all implicated in the downfall of the nation and change our ways.

“The nation cannot remain the enemy of God and hope that either the EFCC or the ICPC or the Police or the judiciary will solve her problems. We must, like the prodigal son, arise and return to our Father.”

Speaking on the essence for the establishment of ICPC by the Obasanjo administration,Agabi said, “The Commission was set up immediately following the advent of civil rule. So urgent and important indeed was the issue of corruption at the time that the first Bill that President Obasanjo presented to the National Assembly was the one that eventually led to the promulgation of the law that established this Commission.

He further urged judges to resist the pressure being put on them by the political class.

He said: “The military ousted the jurisdiction of the courts and amended the laws to suit whatever objectives they set out to achieve. It is a credit to the judiciary that it stood its ground under the military. They were able to do so because the judges were eminently qualified and conducted their affairs in such a way as not to come under any kind of suspicion whatsoever.

“Today, politicians are still of the same mentality. Our judges must resist the pressures being put on them by the political class. We are all witnesses to the relentless attempts by the political class to make the judges allies in their battles against one another.

“From time to time some judges have succumbed to these pressures. When that happens it only serves to render the political order illegitimate. Our judges must stand their ground and be faithful to their oath of office if the nation is to survive. The only hope that the citizens have of living in a better world is a legally ordered society founded on judicial impartiality.”

He spoke on the call for the establishment of special courts to try criminal cases,stating that the country must take steps to ensure that crime is minimized.

He added:”We cannot establish courts on every street or every home. But every home can take steps to ensure that members of the family comply with the law. Even if special courts are established, we still have to prove the guilt of those who are charged before those courts.”

Mohammed Shosanya

Troops of the 6 Division, Nigerian Army, have dismantled 63 oil bunkering sites, arresting seven suspected oil thieves and seizing 280,000 litres of stolen crude.

The troops also intercepted a large wooden boat in the process of illegally siphoning crude from a barge at NNPC flow station, estimated to be over 198,000 litres, around Cawthorne Channel I, general area in Rivers State.

A statement signed by Lieutenant Colonel Jonah Danjuma, Acting Deputy Director 6 Division Army Public Relations,disclosed that efforts were on to track and round up fleeing members of the criminal syndicate.

Danjuma noted that while the troops were on clearance operations in Rivers State and neighbouring Abia State, combed the fringes of Imo River, and uncovered four illegal connection points at Isimiri and Obiakpu villages, in Ukwa West Local Government Area of Abia State.

He said that at Owaza and Uzuaku villages in Ukwa South LGA of Abia state, two illegal connection points were isolated and clamped by oil companies, while one illegal refining site, one dugout two reservoirs, wooden boat with over 3,000 illegally refined products were confiscated in the areas.

He identified Okoloma, Obuzor, Oyigbo, Umuagbai, Afam and Obeakpu, as communities thriving in illegal oil bunkering, with over 42 active sites, adding that over 13,000 litres of stolen crude handled appropriately, while other seizures such as wooden boats and cooking pots were destroyed.

He stated that at Alakiri in Okrika LGA, four active illegal refining sites, 2 ovens and two reservoirs and storage tanks were destroyed, as items including one pumping machine, one 500 meters long hose, two coolants as well as one massive tarpaulin storage with over 29,000 litres of stolen crude were handled accordingly.

The army spokesperson further disclosed that troops intercepted a vehicle loaded with several sacks of products suspected to be condensates along Omoku Elele road, while four illegal refining sites, eight cooking ovens, seven reservoirs, one shelter were destroyed, while over 4,000 litres of stolen products was recovered in Bukuma and Buguma in Asari Toru LGA of Rivers State.

He disclosed that six ovens and eight reservoirs were destroyed at Odagwa around the swampy Adaobi village in Etche LGA of Rivers State, as same feat was replicated at Ogba/Egbema/Ndoni LGA, where one active illegal refining site was destroyed and over 2,000 product confiscated.

He explained that around EGI III in Ogba/Egbema/Ndoni LGA of Rivers State, three reservoirs with over 1000 litres of stolen crude were handled, while 24 empty drums suspected to be used for the storage of stolen locally refined crude oil were recovered.

Danjuma noted that the troops in the same vein while conducting operations along Igbomtoru pipeline in Southern Ijaw LGA, Bayelsa state, uncovered two illegal refining sites, destroying two wooden boats with over 3,500 litres of stolen crude.

In Tana-Gbene and Abala-Kiri, Southern Ijaw LGA, troops uncovered one active Illegal refining site was destroyed, with over 1,000 stolen products, while at the general area of Lagos-Gbene in Southern Ijaw, three active illegal refining sites were dismantled with over 2,000 products confiscated.

At Kaiama Community in Kolokuma/Okpokuma LGA, troops discovered over 1400 litres of illegally refined products in a residential building belonging to one Mr Emmanuel Okpara, arresting the suspected culprits and handing them over to the prosecuting agency.

For Delta State, the troops effectively thwarted a failed attempt to vandalise a gas pipeline at Okpai community in Ndokwa West LGA, belonging to SEEPCO, while In Warri South LGA, troops destroyed one active illegal refining site, five cooking pots, five ovens, one long hose as well as confiscated over 10,000 stolen crude.

Lt. Col. Danjuma quoted the General Officer Commnading, 6 Division Nigerian Army, Major General Jamal Abdussalam, to have appreciated the troops for the renewed force posture, expressing optimism that no criminality would be allowed to thrive in the region, as troops are poised to create an enabling environment for exploration activities by oil companies to take place unhindered.

Mohammed Shosanya

The Nigerian Economic Summit(NESG),says building a more secure society is a critical pillar for Nigeria’s economic future.

Acting Head, Strategic Communication & Advocacy,
NESG,Ms .Ayanyinks Ayanlawo,said this in a statement on Sunday.

She said,as Nigeria prepares for the landmark 30th Nigerian Economic Summit (NES #30), the focus on building a more secure society, a sub-theme of NES#30 emerges as a foundational pillar for economic stability and growth.

She noted that the significance of security in fostering an environment conducive to business operations, attracting foreign investments, and promoting overall societal well-being cannot be overstated.

She said: “This year’s Summit will bring together stakeholders to deliberate on strategies that address the root causes of insecurity, thereby creating a stable and prosperous future for Nigeria and the broader African continent.”

Speaking on the crucial role of security to national development,she said:”Security underpins economic stability, enabling businesses to operate without fear of disruption and attracting foreign investments.

“Addressing the root causes of insecurity, such as poverty, unemployment, and inequality, is essential for creating a stable environment for both citizens and enterprises.

“Strengthening law enforcement and judicial systems further reinforces this stability, fostering social cohesion, trust in institutions, and community resilience.

“Enhanced security promotes an environment where businesses can thrive, education can flourish, and healthcare can improve, leading to a higher quality of life for all citizens.

“It lays the foundation for sustained economic growth and development, driving Africa towards a more prosperous and stable future.”

The statement explained that NES #30 would engage stakeholders in critical discourse to address current socio-economic challenges to ensure stability; explore strategies to improve economic competitiveness; identify pragmatic policies and actions for inclusive growth and development and prioritise collaborative approaches between stakeholders for progress.

On the thematic focus of NES #30, she explained that the Summit would spotlight the theme “Collaborative Action for Growth, Competitiveness, and Stability.”

This theme, she said, underscores the importance of a secure society in achieving economic resilience and inclusive growth.

“The Summit will serve as a platform for meaningful deliberations, emphasising Nigeria’s role in driving the continent’s transformation through institutions, investment, integration, industry growth, and innovation.

“Security, as a critical component of this transformation, will be a key focus area.

“Discussions will revolve around innovative solutions to address security challenges, enhance law enforcement capabilities, and promote social and economic policies that mitigate the root causes of insecurity.

“By fostering a secure environment, Nigeria can unlock its full economic potential and lead Africa towards a more prosperous future.

“As we look forward to NES #30, the call for collaborative action remains as urgent as ever.

“Building a more secure society is not solely the responsibility of the government but requires the collective effort of all stakeholders.

“By working together, we can create an environment where security and economic prosperity go hand in hand, ensuring a brighter future for Nigeria and Africa.

“In conclusion, the 30th Nigerian Economic Summit represents a pivotal moment for Nigeria and the continent.

“By addressing security as a fundamental component of economic stability and growth, NES #30 will chart a course for a more secure, inclusive, and prosperous future.

“The deliberations and outcomes of this Summit will shape the trajectory of Nigeria’s economic development, reinforcing its position as a leader in driving Africa’s transformation.”

The Corporate Affairs Commission (CAC) has warned Point of Sale (POS) operators in the Fintech sector and threatened to shut down those who fail to register their businesses.

In a statement on Friday,the CAC noted that the 60-day deadline for registration, which expired on September 5, 2024, has not been met by many operators.

Commending those who have taken steps to register, the CAC said that non-compliance will not be tolerated.

The commission urged operators to comply immediately to avoid penalties, warning that enforcement is imminent.

The statement reads, “The Corporate Affairs Commission wishes to remind the general public particularly Fintech operators also known as Point of Sale (POS) operators, that the 60 days deadline given in daily newspaper publications of July 7 2024, for the registration of such businesses expired on September 5, 2024.

“The commission notes inadequate compliance with the directive for formalization when viewed from the background of the large number of POS operators in the country. Those that have taken steps to formalize in line with commission’s directive are commended for their positive attitudes.

“Recalcitrant operators have refused to adhere to the advice ice for formalization due possibly, to engagements in unwholesome activities or for some reasons best known to them.

“We are to make it clear that the Commission is working with Law Enforcement Agencies and other relevant stakeholders to deploy comprehensive enforcement and sanction framework that may include not only possible shutdown but other severe legal consequences.”

Mohammed Shosanya

The Niger Delta Development Commission, NDDC, has cautioned Nigerians against the fraudulent activities of scammers claiming to represent the NDDC Youth Internship Scheme.

Seledi Thompson-Wakama
Director, Corporate Affairs,NDDC, gave the caution in a statement on Friday.

The registration for this scheme closed on August 31, 2024,she said in the statement made available to Premium News.

She said:”We received reports that several persons have been getting unsolicited messages stating that they have been selected for the NDDC Internship Scheme, accompanied by requests for personal information and an acceptance fee.

“The NDDC does not require any fees or payments for the placement of qualified youths in its internship programme. We want to clarify that the NDDC is not associated with this fraudulent selection process. Official communications from us will always come from our verified websites and social media accounts.

“If you receive a message similar to the one described, we urge you to disregard the fraudulent message and report it to the appropriate authorities. Your safety and privacy are our priority.

“For legitimate inquiries about our empowerment programmes, please contact us directly through our official channels. We also encourage beneficiaries of our programmes to verify facts on the NDDC’s official website”

Mohammed Shosanya

Agusto & Co. has upgraded the Rating assigned to Odu’a Investment company Limited (OICL) from “A” to “A+”.

The assigned Rating was based on the assessment of the financial condition of OICL as a standalone entity.

The Rating report reflects the Company’s good operating cash flow, diversified revenue sources and a funding structure currently built on internal funding sources and joint venture partnerships.

OICL has operations across various sectors of the Nigeria economy and the potential for increase in earnings through its portfolio rebalancing efforts and growth initiatives.

Speaking on the rating, the elated Group Chairman, Otunba Bimbo Ashiru said that “OICL will not rest on its oars but continue to walk the talk to be a world class conglomerate for the benefits of the owner States and other stakeholders. We are committed to improving the productivity of the businesses we operate while delivering significant social economic impact and sustainable return”

The Group Managing Director, Mr Abdulrahman Yinusa, appreciated the commitment and support of the Board, Management and staff for the incremental growth and consistent development in the right direction towards OICL’s world class conglomerate aspirations.

The Agusto & Co Rating upgrade does not only underscore the company’s financial strength and operational excellence, it further sets a new performance benchmark in the industry.

Meanwhile,the charity arm of Odu’a Investment Company Limited, Odua Investment Foundation (OIF), has trained no fewer than One hundred and Six (106) Government College Ibadan (GCI) students in Coding and Programming languages.

The project,which was named Digital Education for Innovation and Economic Development, (DEFINED), was inaugurated on October 27, 2023, at the Lagos Airport Hotel and was aimed at training students across the six states in the South West zone.

The epoch event was well attended by representative from all the south western states of Nigeria in attendance, the project, ably directed by Professor Seun Kolade of Sheffield Business School, Sheffield Hallam University aims at empowering Yoruba youths for the digital age.

The first endeavour under the (DEFINED) Project,according to one of the OIF Project officers, Adeyinka Babalola, is the Byte Busters after school coding club which has been launched in 3 different schools in the six Southwest states.

In Oyo State, the Byte Busters Coding Club was launched at Government College Ibadan, enrolling 106 students who had undergone a two weeks intensive hands-on summer training in writing coding and programming languages.

Speaking in her address, the Acting Executive Secretary, Odua Investment Foundation, Mrs Abiola Ajayi note d that the (DEFINED) Project was designed to contribute to the development of digital skills among yoruba youths through thr creation of after school coding clubs, among other intervention.

Mrs Abiola saluted the students encouraged them to keep learning because their resilience, creativity and curiosity will shape the next generation of technological advancements.

In his address, Oyo State Honourable Commissioner for Education, Science and Technology, Prof. Salihu Adelabu said the DEFINED Project is a laudable one and which the Governor, Engr. Seyi Makinde fully endorsed.

He emphasized that the goal of the DEFINED Project is to ensure that students have ample opportunities to play around computers in order to bring up technological innovation that can equate to economical development. He advised the students to put their minds at what they are being taught and to keep doing it in order to get better by the day.

Speaking to newsmen on the essence of the project, the Project officer for the DEFINED Project, Mr Temilorun Okediji posited that the project is aimed at promoting digital literacy across the six Southwestern State and that the Byte Busters Coding Club which is an initiative of the DEFINED Project, at demystifying the myth that coding is difficult. This has led to public schools students being taught how to build computer programmes and how to write codes.

He said that apart from Government College, Ibadan, the DEFINED Project has been launched in St. Bernadine’s Girls Grammar School, Oyo and Kishi Community Grammar School, Kishi.

He further explained that the Byte Busters Coding Club is a permanent club in any school the DEFINED Project is launched and the club will ensure that a four years curriculum is drawn which will allow the students to continue learning even as they move up in their academic classes.

He also expressed the readiness of the project to also train and promote digital literacy among the teachers too while giving the assurance that the Byte Busters Coding Club would be established in all the 137 local governments in the southwest.