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APC reveals identities of those working against Tinubu

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The closest effort towards naming those alleged to be undermining the presidential aspiration of the All Progressives Congress APC Presidential candidate, Asiwaju Bola Tinubu, was made on Tuesday by a top official of the party, who listed those said to be  involved in the plot.

Governor of the Northwest state of Kaduna, Nasir El-Rufai, had last week alleged that some elements in the Presidential Villa were working to sabotage Tinubu’s chances at the polls.

Affirming the position of his governor on Tuesday, National Vice Chairman, Northwest, of the APC, Salihu Moh. Lukman noted that the emergence of Asiwaju Tinubu as APC’s Presidential candidate is a product of internal party contests.

Lukman also formally disclosed how the APC National Chairman, Senator Abdullahi Adamu announced Senate President Ahmad Lawan as the consensus presidential candidate and struggled to get the buy-in of the party leadership.

He said “schemers” who failed to produce neither none of the trio of former President Goodluck Jonathan, Central Bank of Nigeria CBN governor, Mr Godwin Emefiele and Senate President, Ahmad Lawan as the consensus candidate of APC “have unleashed Mr Emefiele’s so-called cashless policy to damage the APC and the candidature of Asiwaju Tinubu”.

According to him, by the time of the March 28, 2022 APC National Convention to elect national working Committee members, Presidential Aspirants had emerged, many of whom already had their preferred candidates for the position of National Chairman.

“Some of the Presidential Aspirants were able to expand their lobbies to some of the influential people around the President and perhaps succeeded to convince President Buhari to nominate Sen. Abdullahi Adamu for the position of National Chairman. And shortly after the election of Sen. Abdullahi Adamu as the National Chairman of the APC, negotiations for the emergence of a so-called consensus presidential candidate was activated”, he said.

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Lukman noted that the scheming around emergence of a so-called consensus candidate was ridiculously stretched beyond the APC to include people like former President Goodluck Jonathan and Mr. Godwin Emefiele, the Governor of Central Bank of Nigeria.

“These were never members of the APC. But with the active collaboration of some influential people outside the APC such as Chief Nduka Ogbaigbena, publisher and owner of Thisday Newspaper and Arise Television, some sophisticated mobilization of so-called ‘hundred eminent businessmen, political, media and civil society leaders, including 14 current governors, 13 former governors as well as three former senate presidents’ commenced around April 2022.

“Gradually, this scheming shifted and was entrenched within APC. By May 2023, when the party began to sell its nomination forms to aspiring candidates, forms were purchased by some APC leaders for former President Goodluck Jonathan and Mr. Godwin Emefiele.

“Eventually, when these schemers couldn’t succeed in popularizing both former President Jonathan and Mr. Emefiele as possible contenders to emerge as consensus Presidential candidates for APC, the Senate President, Sen. Ahmad Lawan was recruited and promoted.

“It is on record that Sen. Abdullahi Adamu, on the eve of the Convention that elected Asiwaju Tinubu as the Presidential candidate of the party, announced to NWC members that Sen. Ahmad Lawan was the consensus presidential candidate of the party. Members of the NWC together with Progressive Governors rose against that move and again thanks to President Muhammadu Buhari, the contest for the Presidential candidate of APC was thrown open and Asiwaju won with a wide margin.

“Part of the dummy that was promoted within the APC to attempt to popularize the choice of a Northerner, Sen. Ahmad Lawan as a consensus candidate was that since PDP had elected Alh. Atiku Abubakar, a Northerner as its Presidential Candidate, we needed to also elect a Northerner so that we can win the votes of Northerners. This is completely inconsiderate of the popular agitation for power shift in the country. It is also insensitive of the potential instability that the choice of another Northerner emerging as President of the country could cause. Ahead of the APC National Convention, APC Governors from the North had already declared their opposition against a Northerner emerging as APC Presidential candidate”, he stated.

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He said Tinubu’s personal quality given his track records both as a businessman, politician, and elected Governor of Lagos State between 1999 and 2007 and the fact that he has over the years proven himself as a fighter for democracy was a great asset to his emergence.

“This is one characteristic that has defined him and perhaps strengthened him to survive many personal attacks on his person and his integrity. The administration of former President Olusegun Obasanjo investigated him on many of the issues that are being used to smear his name such drugs. Renowned radical lawyer and human rights activist, late Chief Gani Fawehinmi challenged his academic credentials unsuccessfully in courts. Many journalists and activists questioned his integrity but were not able to establish any proof.

“Asiwaju Tinubu’s battles didn’t start in 1999 when he became Governor of Lagos State. Although both Asiwaju Tinubu and Alh. Atiku Abubakar could make claims to being members of late Shehu Musa Yar’Adua’s Popular Front and part of leaders of Social Democratic Party (SDP), which produced Chief M. K. O. Abiola as the 1993 Presidential Candidate, but Alh. Atiku vacated the political space for the military in 1993 when they annulled the election, which Chief Abiola won. On the other hand, Asiwaju Tinubu took the risk of joining the vanguard of the struggle against military rule. Both Mr. Peter Obi and Dr. Rabiu Musa Kwankwaso were never in the vanguard for the struggle against military rule.

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“As a fighter, Asiwaju Tinubu would appear to be a person with unshaken confidence and capacity to defend himself. Unlike many Nigerian politicians with short-term agenda of winning elections, Asiwaju would seem to be looking beyond elections, which may be responsible for why he was not in a hurry to put himself on the ballot since 2007 when he left office as a Governor of Lagos State. Arguably, he is about the only politician that has consistently invested in politicians without being a candidate. His contribution to the merger negotiations that produced the APC as a political party was significant. His passion and commitment to the growth of APC as a progressive party and the development of Nigerian democracy is very clear.

“This has certainly earned him some strong opposition both within and outside APC. Both the PDP and all the other opposition parties including the Labour Party and NNPP know that Asiwaju Tinubu is the main Presidential candidate to beat.

“Of course, there are forces within the APC that are also not comfortable with the possibility that Asiwaju Tinubu will be the next President of the Federal Republic of Nigeria. Schemers who failed to produce either Mr Emefiele or former President Jonathan or Sen. Ahmad Lawan as the consensus candidate of APC have unleashed Mr Emefiele’s so-called cashless policy to damage the APC and the candidature of Asiwaju Tinubu.

“But as they failed in the case of the consensus presidential candidate, they are also failing in their intrigues to damage the APC and the candidature of Asiwaju Tinubu. As Asiwaju Tinubu emerged as the Presidential candidate of APC despite their machinations, Asiwaju Tinubu will also become elected as President of the Federal Republic of Nigeria, God willing”, Lukman declared.

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Atiku condemns FG’s plan to use N20trn pension fund for infrastructure projects

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Atiku Abubakar, former vice-president, has condemned the Federal Government’s plan to use Nigeria’s pension fund to finance infrastructure projects.

 

In a post on X on Wednesday, Abubakar said it is a misguided initiative that must be stopped immediately.

 

On May 14, Wale Edun, the finance minister and coordinating minister of the economy, said the government has unveiled a strategic plan to harness the N20 trillion pension fund and other locally available resources for infrastructure development in Nigeria.

 

Edun said it was a significant step towards driving economic progress and addressing critical infrastructure needs.

 

However, Abubakar warned the decision could have devastating effects on the lives of Nigerians who have worked hard, saved money, and now rely on their pensions after retiring from service.

 

“My attention is drawn to a disturbing disclosure by the finance minister and coordinating minister of the economy, Wale Edun, as he addressed state house correspondents after the federal executive council (FEC) meeting at the presidential villa on Tuesday, 14 May,” Abubakar said.

 

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“There is, according to the minister, a move by the federal government to rev up economic growth by unlocking N20 trillion from the nation’s pension funds and other funds to finance critical infrastructure projects across the country.

 

“The minister has indicated that although “the initiative is expected to attract foreign investment interest over time”, domestic savings are his ‘immediate focus’ for now.

 

“He provided no useful details, such as the percentage of the funds to be mopped up from the pension funds, for example.

 

“Even at that, this move must be halted immediately!  It is a misguided initiative that could lead to disastrous consequences on the lives of Nigeria’s hardworking men and women who toiled and saved and who now survive on their pensions having retired from service.

 

“It is another attempt to perpetrate illegality by the federal government.”

 

FG MUST ABIDE BY PROVISIONS OF PENSION REFORM ACT 2014

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Abubakar said the government must be cautioned to act strictly within the provisions of the Pension Reform Act of 2014 (PRA 2014), along with the revised Regulation on Investment of Pension Funds Assets issued by the National Pension Commission (PenCom).

 

“In particular, the federal government must not act contrary to the provisions of the extant Regulation on investment limits to which Pension Funds can invest no more than 5% of total pension funds’ assets in infrastructure investments,” Abubakar said.

 

“I note that as of December 2023, total pension funds assets were approximately N18 trillion, of which 75% of these are investments in FGN Securities.

 

“There is NO free Pension Funds that is more than 5% of the total value of the nation’s pension fund for Mr. Edun to fiddle with.”

 

He said there are no easy ways to address the challenges of funding infrastructure development in Nigeria.

Abubakar added that the minister needs to implement the necessary reforms to regain investor confidence in the Nigerian economy and to leverage private resources, skills, and technology.

 

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BREAKING: Nigeria’s inflation rate rises to 33.69%

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The National Bureau of Statistics (NBS) says Nigeria’s inflation rate rose to 33.69 percent in April, as prices of food and non-alcoholic beverages soared.

 

The NBS shared the inflation data in its consumer price index (CPI) report on Wednesday.

 

“Looking at the movement, the April 2024 headline inflation rate showed an increase of 0.49% points when compared to the March 2024 headline inflation rate,” the NBS said.

 

“On a year-on-year basis, the headline inflation rate was 11.47% points higher compared to the rate recorded in April 2023, which was 22.22%.”

 

Details later…

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Naira notes printing: Court grants Emefiele N300m bail

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A federal capital territory high court has granted bail to Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), in the sum of N300 million.

 

The Economic and Financial Crimes Commission (EFCC) arraigned Emefiele on a four-count charge before MaryAnn Anenih, the presiding judge, on Tuesday.

 

Emefiele pleaded not guilty to the four-count charge when it was read to him.

Moving an application for bail, Mahmud Magaji, counsel to Emefiele, asked the court to grant his client bail on self-recognition and on the same grounds and conditions of bail already granted him by a coordinate court presided over by Hamza Muazu.

 

He added that the defendant will always be in court to face trial.

 

In her ruling, Anenih granted the former CBN governor bail in the sum of N300 million, with two sureties in like sum.

 

The court said the sureties must be residents of Nigeria and owners of properties within the Maitama district of Abuja, and that they must possess an affidavit of means.

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Emefiele has also been asked to deposit his travel documents before the court. He is not permitted to leave the country without the permission of the court.

 

Anenih added that Emefiele should be remanded at Kuje Correctional Centre pending the fulfilment of his bail conditions.

 

The case has been adjourned to May 28 and 29 for continuation of trial.

 

The anti-graft agency is accusing Emefiele of “illegal” printing of naira notes in its fresh charge.

 

In the charge sheet seen by TheCable, EFCC alleges that Emefiele “disobeyed the direction of law with intent to cause injury to the public” by approving the printing of naira notes without “strict approval” from former President Muhammadu Buhari and the CBN board.

 

Emefiele is alleged to have approved the printing of N684.5 million notes at the rate of N18.96 billion.

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