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2023: Tinubu Support Organization Endorses El-Rufai As His Running Mate

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As July 17, the deadline given by the Independent National Electoral Commission (INEC) for political parties to submit the lists of their candidates for the 2023 general elections, draws nearer, the Tinubu Support Organisation has endorsed Kaduna State Governor, Nasir El-Rufai as the vice-presidential candidate.

Bola Tinubu, the presidential candidate of the ruling All Progressives Congress (APC) had openly admitted that he is still searching for his running mate. Sources within the APC said the party’s candidate is considering Borno State Governor, Babagana Zulum or his predecessor, Senator Kashim Shettima as preferred options.

But speaking during a press conference on Monday in Kaduna, TSO’s Director-General, Aminu  Suleiman, said the group arrived at the choice of El-Rufai after meeting with critical stakeholders from the northwest zone and beyond.

He believes that the choice of running mate is a critical success factor for the victory of Tinubu in 2023, hence the organization having assessed all options wants the APC’s candidate for the vice president should come from the northwest,  which is the largest voting bloc in the country.

El-Rufai, the group added, is a very experienced person who has done well in both politics and governance at the federal and state levels and is the best candidate that can complement Tinubu as Vice  President.

“After due consultation with critical Stakeholders especially in the North-West, it is of the fact that El-Rufai is Asiwaju’s best choice for VP,” Suleiman said.

“The Tinubu Support Organisation is working tirelessly for the election of Asiwaju Bola Ahmed Tinubu as the next President of Nigeria. TSO believes that the choice of running mate is a critical success factor for the victory of Asiwaju.

“We are glad that the APC has many outstanding individuals among its leaders. But having assessed all the options, it is the view of TSO that the APC’s candidate for VP should be chosen from the North-West, the single largest voting bloc in Nigeria.

“It is our view that the person that can best compliment Asiwaju as VP is Malam Nasir El-Rufai The Executive Governor of Kaduna State and we recommend that he should be chosen as the running mate.

“El-Rufai is a very experienced person. He has held office at the federal level and at the state level, and he has done well in every office. He has always stood for progressive policies. He is not afraid of difficult decisions. This is a man that is running a state government with appointees from all over Nigeria.

“His capacity is not in doubt. His personal ability is outstanding. He is firm. He is courageous. He is principled. We know that he resisted every pressure to be dragged into the presidential race. We appreciate him and his colleagues, the APC governors from the north, for sticking to the view that gentlemen should respect agreements.

“El-Rufai is a leader whose talents and energy should be brought back to the federal level. We appeal to all our leaders in the APC to support Asiwaju Bola Ahmed Tinubu to choose El-Rufai as his running mate.”

BIG STORY

UBA, Wema, GTB Resume International Transactions On Naira Cards After Years Of Suspension

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Three commercial banks in Nigeria have revealed the recommencement of international transactions on their naira cards. In separate messages to customers, the United Bank of Africa (UBA), Wema Bank, and Guaranty Trust Bank (GTB) confirmed that the service is back on their naira cards. This change comes about three years after several banks halted international transactions on naira debit cards.

In a recent notice to customers, UBA stated the resumption is part of its ongoing commitment to delivering seamless and improved banking experiences. “In line with our continued commitment to providing you with seamless and enhanced banking experiences, we are pleased to inform you that all UBA Premium Naira Cards, including Gold, Platinum, and World variants are now enabled for international transactions,” the message read. “This means you can now use your Premium Naira Card for everyday payments, online shopping, POS, and ATM transactions across the world, with more ease and flexibility. If you haven’t used your card recently, now’s a great time to rediscover the convenience and prestige that comes with being a UBA premium cardholder.”

In its own statement, Wema Bank informed customers they could now “pay in dollars” using their naira cards. “Your Wema Naira Mastercard just went global! Now you can pay in dollars on all your favourite international platforms; Amazon, eBay, AliExpress? Netflix, Spotify, YouTube,” the bank noted.

In an email to customers, GTB explained that users can spend up to one thousand dollars every quarter with its naira card worldwide. “We are pleased to inform you that you now have a quarterly limit of $1,000 on your GTBank Naira Card to pay for all your favourite things anywhere in the world,” it said. “Withdrawals at ATMs Abroad: $500 quarterly. Online and POS Transactions: $1,000 quarterly. Kindly note that the quarterly limit of $1,000 covers all transactions including ATM cash withdrawals abroad, purchases on international websites, POS payments outside Nigeria, and more.”

WHY BANKS ARE MAKING THE SHIFT

Ayokunle Olubunmi, head of financial institutions ratings at Agusto & Co, explained that the improved liquidity in the foreign exchange (FX) market encouraged banks to restart global transactions with their naira cards. “The moderating premium on the parallel market transactions and the reduced arbitrage opportunities is also responsible for the decision,” he said.

Charles Sanni, chief executive officer of Cowry Treasurers, told TheCable that the smaller spread between the official and parallel market rates likely influenced the move. He added that interest rates are very high in Nigeria, which discourages borrowing to speculate on foreign exchange. “The naira has also continued to appreciate against the other major currencies of the world. More so, there has been increased diaspora remittances based on the new policy of the Central Bank of Nigeria (CBN) on opening of accounts for non-residents, particularly Nigerians in diaspora,” he explained.

Sanni also pointed to renewed confidence in FX management by the federal government and the CBN, noting improvements in fund transfers and capital repatriation. He mentioned that factors such as an improved credit rating for Nigeria, the clearance of FX backlogs, a “new trading platform, increase in oil prices from geopolitical conflicts, and banks capitalisation” also played a role.

Between July 2022 and January 2023, several other banks had also temporarily stopped international transactions on ATMs and POS channels. The pause was due to severe FX scarcity, which posed a risk to vital sectors of the economy.

In July, Standard Chartered Bank halted international transactions on its naira visa debit card. First Bank of Nigeria (FBN), on September 21, 2022, announced it would stop international transactions on its naira Mastercard. Three months later, Guaranty Trust Bank (GTBank) suspended global payments on its naira Mastercard, and Zenith Bank followed suit on January 9, 2023.

Flutterwave, Eversend, and other fintech platforms also suspended their virtual card services for international transactions.

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BIG STORY

BREAKING: Court Finds Natasha Guilty Of Contempt, Fines Her N5 million

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The Federal High Court in Abuja on Friday convicted the senator representing Kogi Central Senatorial District, Natasha Akpoti-Uduaghan, for contempt over a satirical apology she posted on her Facebook page on April 27.

Justice Binta Nyako, delivering judgment in the suit filed by Senator Akpoti-Uduaghan challenging her suspension, began with the contempt application submitted by the Senate President, Godswill Akpabio.

Akpabio, in his application, argued that the senator’s social media post breached an earlier court order that restrained all parties from speaking to the press or posting on social media about the matter.

Akpoti-Uduaghan’s counsel contended that the post was unrelated to the court’s order on her suspension but was about a separate matter involving sexual harassment claims against the third respondent (Akpabio).

However, Justice Nyako ruled that after reviewing the post and the application before her filed by the third respondent, she was convinced it was connected to the suspension case before the court and therefore declared the plaintiff guilty of contempt.

The judge directed Akpoti-Uduaghan to publish an apology in two national newspapers and on her Facebook page within seven days. She also imposed a fine of N5 million.

 

More to come…

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BIG STORY

BREAKING: Court Orders Senate To Recall Suspended Natasha Akpoti

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A Federal High Court sitting in Abuja on Friday ruled that the Nigerian Senate exceeded its powers by suspending Senator Natasha Akpoti-Uduaghan for six months, ordering her to be immediately recalled to the Red Chamber.

Justice Binta Nyako, delivering the judgment, described the suspension period as “excessive” and lacking a solid legal basis.

The court stated that both Chapter 8 of the Senate Standing Orders and Section 14 of the Legislative Houses (Powers and Privileges) Act, which the Senate relied on, do not specify a maximum suspension length. Therefore, their application in this situation was considered overreaching.

The judge noted that since the National Assembly is only mandated to sit for 181 days in a legislative year, suspending a lawmaker for about the same length of time effectively silences an entire constituency, calling it unconstitutional.

“While the Senate has the authority to discipline its members, such sanctions must not go so far as to deny constituents their right to representation,” Nyako ruled.

However, the court agreed with Senate President Godswill Akpabio on a different issue, ruling that his decision to prevent Akpoti-Uduaghan from speaking during a plenary—because she was not in her designated seat—did not violate her rights.

Nyako also dismissed Akpabio’s argument that the judiciary should not interfere in what he described as an “internal affair” of the legislature, saying fundamental rights and representation fall squarely within the court’s jurisdiction.

In a separate twist, the court imposed a monetary penalty on Akpoti-Uduaghan for violating an earlier court directive that barred both parties from making public comments about the ongoing legal proceedings.

The fine amounts to millions of naira.

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