Good morning Nigeria. Welcome to the Naturenex roundup of top newspaper headlines in Nigeria for today, Friday, 5th July 2024
1. Tinubu Inaugurates Presidential Economic Coordinating Committee
President Bola Tinubu has inaugurated a Presidential Economic Coordinating Committee aimed at revitalizing the economy swiftly.
The Committee includes influential figures from the private sector, such as Aliko Dangote, Chairman of Dangote Group; Tony Elumelu, Chairman of Heirs Holdings; and Wale Edun, Minister of Finance and Coordinating Minister for the Economy.
The President is expected to inject over ₦2 trillion into the Nigerian economy to stimulate growth.
During the inauguration ceremony at the Presidential Villa in Abuja on Thursday, Tinubu directed the allocation of specific funds: ₦250 billion for Health and Social Welfare and ₦500 billion for Energy and Power, among other economic support measures.
These initiatives are likely in response to the current inflationary trends that have sparked widespread complaints among Nigerians.
2. LGBTQ Report On Samoa Agreement Wrong- Presidency
Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, has said the report on the Samoa loan agreement was wrong.
Daily Trust, in a report, on Wednesday, titled “LGBT: Nigeria Signs $150 Billion Samoa Deal”, said the deal signed by Minister of Budget and Planning, Atiku Bagudu, has a clause that benefiting countries must allow the LGBT community to exercise their choice.
In the report, Daily Trust quoted Chairman, Human and Constitutional Rights Committee, African Bar Association (AfBA), Sonnie Ekwowusi, who reportedly alleged that the federal government, through the Samoa agreement, compromised Nigeria’s sovereignty.
Onanuga was, however, of the view that the newspaper ought to have discarded the report after the Media Assistant to the Minister of Budget and Planning, Bolaji Adebiyi, refuted the allegation.
Adebiyi in the report, said the Samoa agreement had nothing to do with LGBT. He said it was an economic agreement that had no hidden insert or condition of same-sex or LGBT.
3. CBN Threatens To Penalise Banks Rejecting Mutilated Naira Notes
The Central Bank of Nigeria (CBN) has issued a stern warning to Deposit Money Banks (DMBs) regarding the rejection of dirty or mutilated Naira notes.
In a statement released on Thursday by the acting director of the currency operations department, Solaja Olayemi, the apex bank emphasized that strict penalties will be enforced against banks that fail to accept these notes from the public.
According to the CBN, numerous complaints have been lodged by consumers about certain banks’ practices of refusing to accept worn and torn Naira notes.
This issue not only inconveniences the public but also contravenes the guidelines set forth by the CBN.
The CBN reminded banks of the circular issued on July 2, 2019, coded COD/DIR/GEN/CIR/01/006, which outlines the penalties for rejecting Naira banknotes.
4. FG Ignores ASUU, Inaugurates Governing Council Of Tertiary Institutions
The Federal Government has inaugurated the Governing Councils of tertiary institutions to effect the smooth running of Nigerian Universities, Polytechnics and Colleges of Education in the next four years, despite kicks from the Academic Staff Union Of Universities (ASUU).
Naija News reports that the Minister of Education, Prof Tahir Mamman, inaugurated the Chairmen and members of the councils in Abuja, on Thursday.
Mamman said it was tough to decide as he has not rested on the issue in the last ten months.
While congratulating the tertiary institution Governing Councils, the Minister warned them against undue interference in the institutions’ human, financial and resource management.
Mamman also urged them to develop ideas that would shore up the internally generated revenue of the institutions by exploring diverse sources and partners willing to invest in education.
5. Ex-Gov, Two Ministers Sponsoring Protests Against Us, Says EFCC
The Economic and Financial Crimes Commission (EFCC) has said that a former governor and two former ministers are behind a series of protests against the anti-graft agency.
It said despite the planned protests, its operatives would continue to do their work no matter whose ox is gored.
The spokesperson of the anti-graft agency, Dele Oyewale, disclosed while fielding questions from journalists during a press briefing organized by the Strategic Communications Inter-agency Policy Committee (SCIPC) under the Office of the National Security Adviser (NSA).
The anti-graft agency had on Wednesday alerted Nigerians on the plan by what it described as “a shadowy group” to instigate a protest against the commission, adding that it was already working in concert with sister security agencies to deal with possible threats to the peace and security of Nigeria.
Responding to a question at the briefing on the main issue that prompted the planned protest, Oyewale said it was because the activities of the commission were already affecting some “looters of the commonwealth”.
6. Dangote Predicts What May Happen To The Nigerian Economy In Few Months
Chairman and Chief Executive of the Dangote Group, Aliko Dangote, has expressed optimism that the Nigerian economy has the potential to be transformed within a short period.
Speaking to State House Correspondents on Thursday following the inauguration of the Presidential Economic Coordination Council (PECC) by President Bola Tinubu, Dangote emphasized the importance of collaboration between the public and private sectors in revitalizing the country’s economy.
The renowned industrialist assured that the private sector would offer guidance to the government regarding the necessary policies for economic recovery.
Dangote said: “This is where the public and private sector will work together. We will advise the government on the type of policies needed to revamp the economy.
“Our economy can be turned around in few months. Things will soon change. We will work to make sure that things change for the better.”
7. Edo Guber: Court Nullifies PDP Primary Election
A Federal High Court in Abuja has declared the Peoples Democratic Party’s (PDP) primary election, which resulted in Asue Ighodalo becoming the candidate for the upcoming Edo State governorship election, as invalid.
Naija News reports that the primary, held on February 22, 2024, was voided because 378 delegates who were supposed to vote were unlawfully excluded by the PDP.
Justice Inyang Edem Ekwo delivered the judgment, invalidating the primary election based on a suit filed by the aggrieved delegates.
The suit, marked THC/ABJ/CS/165/2024, was filed by Hon. Kelvin Mohammed on behalf of the excluded delegates.
Naija News recalls that on February 22, Ighodalo, who is both a lawyer and an investment banker, clinched the position of the PDP governorship candidate after defeating his competitors in a primary election held at the Samuel Ogbemudia Stadium.
However, Justice Ekwo ruled that the conduct of the primary at the Samuel Ogbemudia stadium in Benin grossly violated both the Electoral Act 2022 and the PDP Guidelines.
8. Senate Passes North Central Development Commission Bill
The Nigerian Senate has passed the North Central Development Commission (NCDC) bill.
Naija News reports the NCDC bill was passed into law on Thursday, July 4, by the upper legislative chamber after considering the report of its committee on special duties, presented by its chairman, Senator Kaka Shehu.
The Bill was sponsored by the senator representing Benue South Senatorial District, Abba Moro, and co-sponsored by all the senators from the North Central region.
The bill had initially passed first reading on the 5th of October, 2023, and second reading on February 21, 2024.
The bill was first sponsored in the 9th Senate by Senator Moro, where it passed first and second readings but could not get presidential assent before the expiration of the 9th Senate.
9. CBN Interest Rate: Dangote’s Outcry Has Validated My Concerns – Peter Obi
The former presidential candidate of the Labour Party (LP), Peter Obi, has stated that the recent outburst of billionaire businessman, Aliko Dangote has vindicated his earlier concerns about the negative effects of the monetary policy of the Federal Government.
Recall that Dangote had condemned the Central Bank of Nigeria (CBN) recent interest rate hike, which has approached nearly 30 percent.
He insisted that it is impossible for growth to happen with a 30 percent interest rate.
Weighing in on the matter, Obi argued that the country must urgently reverse the ugly trend.
He stated this via his X handle on Thursday.
The former Anambra State governor asserted that the development would hinder Nigeria’s movement from consumption to production, adding that it would also lead to further job loss.
10. Rivers: Court Nullifies Order Barring Amaewhuele, 24 Others From Parading As Lawmakers
The Court of Appeal, on Thursday, squashed an order barring Martin Amaewhule and 24 others from parading themselves as lawmakers and members of the Rivers State House of Assembly.
Naija News recalled that a Rivers State High Court sitting in Port Harcourt, on the 10th of May, 2024, had barred the Speaker of the state Assembly loyal to the Minister of the Federal Capital Territory, Nyesom Wike, and 24 others from parading themselves as lawmakers.
Justice Charles N. Wali gave this order in a case in suit number PHC/1512/CS/2024, filled by Victor Oko Jumbo (Speaker, Rivers State House of Assembly) Sokari Goodboy, Orubienimigha Timothy, members of the Assembly.
However, on Thursday, a three-member panel of the appellate court held that the lower court lacked the jurisdiction to grant the exparte order.
The court held that Section 272(3) of the Constitution gives the Federal High Court powers to determine whether the seat of a House of Assembly member has become vacant.
It held that the Federal High Court has the exclusive jurisdiction to determine if the seats have become vacant.
According to the court, the express mention of the Federal High Court in Section 272 (3) of the Constitution automatically excludes all state high courts from having the jurisdiction.
The appellate court held that the exparte order having been made without jurisdiction is null and void.
