Following inundating calls from students and other stakeholders in education, the Senator representing Abia North, Orji Uzor Kalu, has pleaded with the Federal Government to consider paying the striking lecturers some months of salaries to save them and their families from starvation.

Fielding questions from newsmen on Wednesday evening on the welfare of the striking Academic Staff Union of Universities, Kalu pleaded with the federal government and ASUU to reconsider their stands on the persisting strike.

Kalu disclosed, “A lot of students from my constituency have been calling me over the matter and I feel it is godly for all Nigerians, including religious leaders, community leaders and all of us to put all hands together to return ASUU back to work and also save their families; some are starving to death”.

He lamented that thelecturers are suffering in the absence of salaries for about five months, pleading passionately, “I want the federal government to consider paying them some of their salaries while negotiation is still on”.

Kalu, who is the Senate Chief Whip noted that it is written, “even in the Koran and the Bible, that wherever you sow is where you reap.

“They have no farms and no other businesses. They have nothing to sustain them”.

He, therefore, called on all parties concerned, especially the federal government to see what they can do immediately to save the lives of the lecturers and their families.

[PUNCH]

Pete Davidson has reportedly been in “trauma therapy”, largely due to Kanye West’s attacks on social media. 

Sources told People that West’s frequent attacks are one reason Davidson has “been absent from social media.”

A source said; 

“The attention and negativity coming from Kanye and his antics is a trigger for [Pete], and he’s had to seek out help.”

The source stressed that, despite calling it quits last week, Davidson “has no regrets for dating Kim and wants it to be made very clear that she’s been nothing but supportive of him throughout their relationship.”

A source close to Kardashian however stated that Davidson’s involvement with trauma therapy had nothing to do with their break-up and that she “does not tolerate this type of behavior from Kanye.”

As for Davidson, he’ll be focusing on his career, moving forward. He’ll next be seen in the summer horror comedy Bodies Bodies Bodies. And dating Kim Kardashian was still pretty cool, even with the Ye factor.

According to People’s source, Davidson “has no regrets for dating Kim and wants it to be made very clear that she’s been nothing but supportive of him throughout their relationship.”

The “Golddigger” rapper, 45, has continuously criticized the “SNL” alum, who he dubbed Skete ever since he was first linked to Kardashian in October 2021.

Earlier this year, West released a video for “Eazy” that had him literally kidnapping and burying a cartoon version of Davidson. He also rapped about “beating Pete Davidson’s ass.”

West also attacked Davidson in a second video for the same tune, this time while the actor wore a “Skete” hoodie.

Yesterday, West posted a doctored image of a New York Times front-page obituary that read, “Skete Davidson Dead at Age 28,” following news of Davidson and Kardashian calling it quits.

Both Kardashian’s and Davidson’s teams contacted Instagram about the post which has since been removed.

Security sources have disclosed that the real looting of Nigeria’s crude oil and its by-products is neither through illegal bunkering, refining nor pipeline vandalism, but via highly placed government officials-enabled undocumented shipments of large scale hydro-carbon products worth over $1.2 billion to Europe and the Americas.

The sources noted that while all eyes are on the fight against illegal oil bunkering and pipeline vandalism, top government officials of agencies expected to perform supervisory and due diligence roles in the sale and shipment’s of the nation’s vast hydrocarbon resources are trading away the resources to cartels and reaping the benefits into private pockets.

The sources said Europe and the Americas were favourite destinations because the products, which are sold at giveaway prices, are paid for without delay.

Noting that the looting of the nation’s commonwealth has been going on for years, the sources said that the Liquefied Petroleum Gas and Liquefied Natural Gas were being shipped out of the country in millions of metric tonnes without records and documentation. 

Some of the destination countries where these hydro-carbons are shipped to with the knowledge and protection of top government officials, according to the sources, include Mexico, Brazil, United States and Argentina.

Incidentally, the source said, the NLNG whose duty it is to supervise the operations of such shipments, is a joint venture organisation of Nigerian National Petroleum Corporation with 49% shareholding; Shell Gas B.V., 25.6%; Total Energies Gaz & Electricité Holdings, 15%, and Eni International N.A. N.V. S.àr.l with 10.4%. 

The transatlantic looting route

A source noted that NLNG has a total production capacity of 22mtpa of LNG and five million tons per annum of Natural Gas Liquids (NGLs) from its 6-train plant complex and boasts of 16 long-term Sale and Purchase Agreements (SPAs) with 10 buyers and controls about 6 per cent of global LNG trade. 

The source said, “In five years, from 2009 to 2013, over $1 billion worth of hydrocarbon products were exported using backdoors from Nigeria to Argentina, Brazil, Mexico and the United States.

Emphasizing that the illegal exportation is still ongoing with the backing of top officials of government, the source said gave a breakdown of some of the under-the-table transactions, mentioning specific vessels’ names and their IMO numbers.

Escobar Port, Bahia and Blanca Port are the usual destinations of the products in Argentina.

“The total value of the products shipped to Argentina in 2013 by three vessels was $52.1 million. 354,018 metric tonnes of hydrocarbon products estimated at over $177 million were illegally exported to Brazil without trace and documentation.”

The transaction to cartels in Brazil showed that “one of the vessels shipped 62,608 metric tonnes of hydrocarbon products valued at $31.3 million; another shipped 60,000 metric tonnes of product valued at $30 million; while a third shipped 55,000 metric tonnes of hydrocarbon products valued at $27.5 million.

“Two other vessels shipped over 120,000 metric tonnes worth more than $60 million Brazil ports.

“A total of 354,018 metric tonnes of hydrocarbon products valued at $177 million was shipped to Brazil.

“Over $34 million worth of hydrocarbon products were illegally exported to the USA in six trips using six different vessels for transportation.”

Cove Port, Lake Charles Port and Sabine Pass Port are some of the popular US ports.

One of the destinations with the highest quantity of backdoor export, according to the source, is Mexico.

“Nigeria LNG products worth $981.5 million were exported to Mexico in 33 trips using different vessels to wade away any form of suspicion.

“Officials supervised the exportation of the products to Mexico with no official paperwork prepared for the export.

“Of the 28 seaports in Mexico, the vessels used for exporting products from Nigeria all docked Altamira ports.”

The source revealed that in total, over $1.2 billion worth of hydrocarbon products have been illegally exported through back and covered channels from Nigeria to Argentina, Mexico, Brazil and USA in the last five years.

[VANGUARD]

Bishop Patrick Wooten has given his opinion on Beyonce’s new song “Church Girls,” which features a Clark Sisters sample, calling it sacrilege.

He added that the song shows Beyonce has sold her soul to the devil and he said he wouldn’t recommend the song.

He told his congregation: “Beyonce just released sacrilege. The only thing I can account to some of that stuff is, somebody done sold their soul to the devil.”

He continued: “When you sell your soul to the devil you get the short end of the stick.  Because you’re not gonna live for so long and when you leave here, where you’re going, you’re going to be there forever. So, it’s not a good deal.”

He called the song a “piece of trash” that he “struggled to listen to” but said it was “too bad” and “not for public consumption.”

He continued: “To sample the song of a real Church lady, Twinkie Clark… I don’t know whether she knew what she was gonna do with the song or not. She knows she’s not saved.  And I pray to God that a stiff denounciation of what she did with that song is put out.”

See video:

President Muhammadu Buhari’s Special Adviser on Media and Publicity, Femi Adesina, has accused Nigerians of blaming his principal for their shortfalls.

Adesina lamented that some Nigerians blame Buhari for all the challenges, including poor performance in bed.

He said Nigerians blame Buhari because “resentment is their daily food and drink.”

Adesina disclosed this in his weekly article shared on his Facebook titled, ‘I Still Believe In Buhari.’

He lamented that Nigerians see the president as their “fall guy.”

The article read partly: “Resentment is a poor prop for anyone to lean on, goes another saying. But not for some Nigerians. Resentment is their daily food and drink, and they heap all the problems in the country on the head of the President if it rains too much.

“Blame Buhari. It doesn’t rain at all. Buhari is the cause. A man gets to bed at night no power. Buhari oooo. The President is the fall guy for everything.”

He stressed that Nigerians blame Buhari for the “parlous security situation in the land.”

[DAILYPOST]

Ahead of the 2023 general elections, former President Olusegun Obasanjo has appealed to Nigerians to make the right choice as the wrong choice will consume the whole nation.

The former President made the call when he spoke at the Wilson Badejo Foundation’s 15th annual lecture with the theme, ‘Overcoming the twin challenge of poverty and insecurity in Nigeria’ held in Lagos.

“It is either we make the right choice in 2023 because if we make the right choice, we would get there. However, if we do not make the right choice in 2023, things would consume us and we pray against that one. We must make the right choice in 2023,” Obasanjo said

Speaking further, Obasanjo said;

“Nigeria is not where it is supposed to be today. If anyone says it is ok where we are at the moment, then the person’s head needs to be examined. My friend, late Ahmed Joda, used to tell me that God has given us everything a nation needs and there’s no need for prayers because if God has given you everything and you squandered it, then something is wrong.

I told him that even at that, we still need prayers as a nation because what is good needs prayers and on the other side too, we still need more prayers.”

The Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, has lamented how some banks management stole billions of naira in the name of borrowing.

He, there called for collaborative measures by relevant stakeholders as a way of militating against bank failure in the country.

Bawa said forensic analysis of the annual reports, bank statements and other financial documents of some of the failed banks investigated by the EFCC clearly showed a pattern necessitating collaborative measures that could make the nation’s banking sector work more effectively.

Baba stated this on Wednesday, August 10, 2022 while delivering a goodwill message at the opening of a two-day workshop with the theme: “Effective Investigation and Prosecution of Banking Malpractices that Led to the Failure of Banks” organized by the Nigeria Deposit Insurance Corporation, NDIC, in Lagos.

The EFCC Chairman, who was represented by Ahmed Ghali, Zonal Commander, EFCC, Lagos Command, said though many households, small businesses and large corporations had always relied upon banks to provide their financial needs at one time or the other, most banks had fallen short of expectations in this regard due to fraud, mismanagement, inexperience and the initial absence of regulatory laws and authorities.

Taking a historical look at the failure of the banking sector in the country, he said: “Failure in the banking industry was first experienced in Nigeria between 1930 and 1958, when some banks failed and were liquidated.

“As a matter of fact, more than 21 cases were recorded in Nigeria between 1930 and 1958 when the Central Bank of Nigeria (CBN) was established. Alpha Merchant Bank, Financial Merchant Bank and Republic Bank were some of the banks affected during this period (CBN statistical Bulletin, 1988).”

“In a bid to change the narrative and save the Nigerian banking Sector from a near collapse, the Central Bank of Nigeria (CBN) in 2004, increased the minimum paid up capital of banks to N25billion from N2billion. The policy, which was effected in 2005, was intended to consolidate the existing banks into fewer, larger and financially stronger banks. As a result of the implementation of this policy, the 89 banks that existed as at 2004 decreased to 25 larger, better-capitalized banks in 2005.

“Furthermore, the enactment of the Nigeria Deposit Insurance Corporation (NDIC) Act in 2006, became a major landmark in the Nigeria’s Banking sector as it made provisions for the insurance of all deposit liabilities of licensed Banks operating in Nigeria.(Section 2(a), NDIC Act, 2006).

“In 2010, the CBN however came up with another policy, which is a fundamental reversal of the consolidation policy in 2005.

“The new policy was aimed at categorizing banks into tiers by function and allowing varying levels of capital depending on the bank’s function as opposed to the single current minimum capital of N25billion.

“These reforms indicated that the banks did not just fail; they were destroyed and brought to their knees by acts committed by identifiable people. The tragic collapse of some of the failed banks evidenced that the banking industry has been cajoled and manipulated by human beings and smart fraudsters. Thus leaving the bank literally struggling for breath”.

While emphasizing the need for forensic analysis of financial documents and water- tight investigation as a way of checkmating the trend in the sector, Bawa further stated that lack of good corporate governance and accountability were reasons for bank failure in the country.

According to him, “In some of the failed banks, the management stole billions of Naira in the name of borrowing, some even gambled with depositors funds to speculate on the stock market and manipulate share prices.

“Some banks granted loans to billionaires and captains of industries whose wealth actually was money belonging to the poor which they “borrowed” and refused or were not able to pay back.”

The EFCC boss, who also urged the NDIC to embrace technology to meet up with the investigative and prosecutorial challenges of the 21st Century, also called for cooperation from those who should furnish investigators with relevant information.

He also lamented the the slow pace of court proceedings and interference from different quarters during investigations, saying: “ This is a major challenge to the effective investigation and prosecution of fraud in banks.”

[PM News]

Governor Nasir El-Rufai of Kaduna State has said that Nigeria cannot afford another civil war.

El-Rufai who spoke at the closing ceremony of the orientation course organized for members of the 2022 Batch B (Stream 2) National Youth Service Corps members posted to Kaduna State on Tuesday August 9, urged youths not to fan the embers of violence and war in the country.

Represented by the state’s Acting Governor, Dr Hadiza Balarabe, El-Rufai said; 

“The youth must remember that the NYSC came into being after the civil war that tore every fabric of the Nigerian state. The war was a needless savagery that we cannot afford to repeat.

“Nigerian youths must, therefore, distance themselves from fanning the embers of violence and war in Nigeria. As a country, we must avoid a repeat of that dark part of our history. And Nigerian youths must refuse to be ready tools for war mongers.”

He further noted that the national youth service is a reflection of the hope placed on young graduates as bearers of a greater Nigeria.

Veteran singer and social activist, Charles Oputa, aka Charly Boy, has said the reports that he is planning to end his marriage are not true.

In a post on his Twitter page during the week, he had written, “My people, if I tell you that after over 45 years of marriage to my wife, I am going back to bachelorhood, what would you say?”

He added, “I have said it that this marriage thing is not easy. The longer you stay, the harder it gets. What should I do? I am tired o.”

However, in an interview with Saturday Beats, the ‘Area Fada’ said, “Some people are asking me how I have managed to stay in marriage for 45 years. It is hard-work. It is not that it has entirely been a sweet experience for me. My marriage is not perfect but we are a perfect match made in heaven.

“Every year, rumours have it that I want to divorce. This is not the first time; it has actually been going on for the past 20 years. That is how people see things because we all think differently.”

Speaking on why he made such post on social media, he said, “Young people usually believe that love is all they need to marry. That is a big lie. That was what I was trying to say (in my post on social media). When I talk, people should think deeper. I have been married for 45 years. What remains again? I can as well finish 10 or 20 more years because it is a life sentence.

“I wanted to know how many people have been inspired by my marriage. Very soon, I will be marking my golden jubilee in marriage. It is not like I want a divorce. People should not take what I say literally.

“Yes, I said I am tired but it is normal. Even as an activist, it got to a point that I became tired of everything. However, it seems like when I talk to people, they do not listen. But, there are still a few persons who listen and are inspired by what I say.”

 Asked how he thinks people who look up to him felt when he insinuated that he was tired of being married, the ‘Fake Pastor’ said, “Why should those who look up to me be discouraged? Should I lie that marriage is easy? One has to face the facts. Moreover, marriage is not for everybody.”

Speaking on why he still finds marriage challenging despite spending almost five decades in it, he said, “Marriage will be challenging, especially when the kids leave. Then, it is only two people that will be facing themselves, especially in this kind of toxic environment. It could also be an issue if the woman and the man are not making as much money as they used to.

“Physical changes can also occur which a partner may not be comfortable with, but those are the things to expect. Being tolerant does not even guarantee that the marriage will not have issues. One has to keep working on one’s marriage till one dies.”

[PUNCH]

President Muhammadu Buhari‘s administration has been advised by Nigerian governors on how to revive the economy of Nigeria.

The governors listed certain steps that would help prevent the nation from economic collapse.

According to Premium Times, the governors presented the proposal to President Buhari during a meeting last month.

Naija News gathered that the Governors advised the President to offer federal civil servants who are older than 50 years a one-off retirement package to exit the service.

The Governors also called on President Buhari-led government to stop the Central Bank of Nigeria from financing the government’s budgetary expenditures and convert its N19 trillion debt into a 100-year bond.

See the list of the steps placed before President Buhari to save the country’s economy.

A. Reduce FGN expenditure immediately (with estimated savings in 2022 in brackets):

1. Eliminate PMS subsidy/under-recovery – (N6-7 trillion)

2. Eliminate NNPC’s Federation-funded projects – (N300 billion) 

3. Cap Social Investment Program (SIP) and National Poverty Reduction with Growth Strategy (NPRGS) budgets to N200 billion – (N570 billion)

4. Eliminate extra-constitutional deductions from FAAC – (N100 billion)

5. Reduce SWV items for SDG and NASS Constituency projects – (N300 billion)

6. Reduce duplications (e.g. empowerment programmes) and waste – (N100 billion)

7. Reduce the 1 per cent granted to NASENI to 0.2 per cent. Amend the Act in the 2022 Finance Bill.

B. Reduce Personnel Costs of FG MDAs:

8. Offer federal civil servants above 50 years (a) a one-off retirement package to exit the service – (N350 billion), and employ lower-cost, more ICT-compliant youths and women graduates.

9. Begin implementation of the updated Stephen Oronsaye Report – (N1 trillion)

10. Expedite privatization of non-performing assets. (Billions of Naira)

11. 2023 – 2025 MTEF to be revised and updated to reflect the above expenditure management measures and Government’s commitment to restore fiscal discipline.

12. Planned 22 per cent increase in salaries in 2023 to be reconsidered.

13. Reduce fiscal deficit to no more than 2 per cent of GDP in 2023 – 2025.

14. Foreign trips by MDAs, including budgetary-independent agencies such as CBN, FIRS, NPA, NIMASA and NCC, etc. to be put on hold for at least one year.

15. Ministry of Foreign Affairs not to issue requests for Visas to foreign embassies for FGN officials and their families, unless express approval is granted by the Presidency.

16. Move from State Income Taxation to Consumption Taxation:

17. With the introduction of 3 per cent Federal Income Tax, state-level PIT should be abolished.

18. State Sales Taxes (flat rate of 10 per cent) should be enacted for the 36 States and FCT.

19. Increase VAT levels to 10 per cent with a timeline to raise it to between 15 per cent and 20 per cent.

20. Ensure re-introduction and passage of VAT into the Exclusive List.

21. End CBN financing of FGN expenditures and convert the N19 trillion Ways and Means outstanding into 100-year, 1 per cent bonds immediately.

22. Introduce a flat 3 per cent Federal Personal Income Tax on all Nigerians earning more than N30,000 per month. – (N100 billion)

23. Persons earning less than N30,000 per month whether employed or not, including farmers and traders should pay a monthly FPIT of N100.

24. Telecom firms and NIMC should collaborate to ensure the deduction of this from the phone credit of individuals and linking to NIN and BVN.

25. Centralize the collection of all federal oil and non-oil taxes in one agency, the FIRS while Customs, NPA, etc assess and issue demands.

26. Improve offshore crude oil and gas production.

27. Resolve lingering issues of ownership of gas in PSCs (eg Nnwa-Doro, OML 129). This will help position Nigeria to take advantage of the gas needs in Europe.

28. Provide incentives and resolve issues to expedite the development of vandalism-resistant deep offshore fields like Bonga SW (Shell), Preweoi (Total), Zabazaba (ENI) and Owowo (Exxon).

29. Encourage (and pre-finance, if necessary) Dangote Refinery to early completion to reduce massive future outflows of foreign exchange.

C. Central Bank of Nigeria

30. The Bank of Agriculture, Bank of Industry, and Development Bank of Nigeria should be recapitalised

31. Funds in NIRSAL controlled by CBN should be redirected to the Development Banks.

32: CBN should be directed to focus on its core and statutory mandate of exchange rate management, interest rate management and inflation targeting. It should also be directed to cease competing with development and commercial banks.

33. CBN’s subsidized interventions in the real sector should be ended and the relevant institutions recapitalized to provide these services.

The governors made the recommendations on the CBN after determining that the naira exchange rate has deteriorated because:

i. CBN has printed N19 trillion “Ways and Means” for FGN expenditures contrary to the CBN and Fiscal Responsibility Acts and in violation of the law.

ii. Trillions of Naira are chasing a few billion dollars, putting pressure on the foreign reserves and the exchange rate.

iii. CBN’s ‘fixed exchange’ stance discouraged foreign investment (peak of $90bn investment commitments in 2018, to $20bn in 2021), and Diaspora inflows ($20 billion in 2022 to less than $17 billion in 2021)

iv. PMS subsidies under the guise of ‘under-recovery’ have wiped out virtually all accretions to the foreign reserves.

v. CBN has resorted to using swaps, deferred LCs and other innovations to hide the real levels of charges on our foreign reserves – Gross of $36 billion vs. Net of $15 billion as at end of June 2022.

vi. Exchange rate policy now favours consumption by the rich – cheaper medical tourism ($3bn annually), education ($6bn annually) and business and technical services like aviation remittances, etc. ($15bn) in 2019.

[Naija News]