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Buhari Approves N134bn Security Allowance For Military Veterans

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President Muhammadu Buhari has approved N134.7 billion for the payment of Security Debarment Allowance to all military veterans.

 

Buhari, who revealed this at the launch of the 2023 Armed Forces Remembrance Day Emblem and Appeal fund, announced the donation of N10 million to the Nigerian Legion,  on behalf of the Federal Government.

 

The News Agency of Nigeria reports the inauguration of the Emblem Appeal fund preceded the meeting of the Federal Executive Council.

 

Buhari pledged the Federal Government’s commitment to the welfare of veterans by ensuring prompt payment of their pension and other entitlements, which had been demonstrated by his approval of the payment of SDA to veterans with effect from 2017.

 

“However, in order to capture all veterans hitherto excluded from the payment of the SDA, I have approved a review of the effective date of the Manual of Financial Administration for the Armed Forces of Nigeria 2017.

 

“Accordingly, I have also approved the sum of N134,749,953,243.69 only for that purpose,” he said.

 

President Buhari also expressed delight that the Defence Health Maintenance Limited was living up to expectation in providing healthcare services to the veterans, noting the expansion of the reach of their services through the establishment of Zonal and State offices.

 

He promised that government would continue to prioritise the provision of quality healthcare services to veterans and citizens at large.

 

The president also commended the efforts of the Nigerian Armed Forces in confronting banditry, kidnappings, molestations and killing of innocent citizens head-on, saying that these “vices alien to our culture” are on the decline.

 

According to him, normalcy is gradually returning to some affected parts of the country due to the methodical approach and increasing military campaign to decimate subversive elements involved in destructive activities, such as “in the insurgency in North East, militancy in the Niger Delta”.

 

He also lauded the efforts of the military in addressing ethnic and religious tensions in some communities.

 

He assured Nigerians that the federal government would continue to reposition and strengthen all security agencies to enable them surmount the security challenges in the country.

 

The president called on business enterprises to appreciate the sacrifice of servicemen and gallant troops by extending support to them in form of discounts and rebates upon purchases and services rendered.

 

This, he said, would act as a morale booster to members of  the Armed Forces and assist them in carrying out their statutory responsibilities.

 

President Buhari reiterated that he would hand over ”a Nigeria that is free from insecurity to the next generation of leaders.”

 

He expressed confidence that with the gallantry and sacrifices exhibited by men and women of the Armed Forces in the campaign against insurgency and other Internal Security Operations, “the nation will be returned to normalcy as we continue to battle decisively, all the security challenges.”

 

The president commended Governors who are Patrons of Veterans in their respective states for their support of the Nigerian Legion.

 

Buhari urged government’s agencies at the Federal and State levels to continue to patronise the services of the Nigerian Legion Corps of Commissionaires in the provision of security and other administrative services.

 

”The potentials of ex-servicemen are enormous and can indeed be tapped for national development,”he said.

 

He directed the Defence and Services Headquarters to continue to interface with the veterans in matters of security, intelligence and strategy.

 

The president recounted that the choice of Jan. 15 as the Armed Forces Remembrance Day Celebration is symbolic because it marked the end of the Nigerian Civil War.

 

“The occasion gives cause for reflection and reminds us of the sacrifice made by our Armed Forces in preserving the unity of the country and highlights the need for us to guard this unity jealousy,” he said.

 

He, therefore, implored all citizens to refrain from detrimental actions and statements that threaten national unity and integration but rather engage in positive actions that unite the country.

 

“The strength of our country lies in our diversity; an endowment we must do all within our means to preserve,” he said.

 

On the 2023 emblem, the president explained that it remained a symbol of remembrance and a beacon of hope for a peaceful future with the unspoken message to the fallen heroes that their sacrifice was noble for the greater good of our fatherland.

 

“It is also our humble way of appreciating the veterans and the families of their fallen colleagues,” the president said.

 

He called on all Nigerians and non-Nigerians residing in the country, irrespective of their political affiliation or religious beliefs, to adorn the emblem with pride and identify with those who laid down their lives for the peace and security of the nation.

 

President Buhari also encouraged all to donate generously in support of the veterans and dependants of fallen heroes.

 

Senate President Ahmed Lawan, who also promised financial donation, on behalf of the National Assembly, to the Nigerian Legion, commended the president for giving ‘‘maximum support’’ to the Nigerian Armed Forces.

 

“For us at the National Assembly, there is nothing that we will approve for the Armed Forces and other security agencies that will be too much.

 

”We believe that we must secure this country before we take our exit from the government and Mr President we are with you on this journey,’’ he said.

 

The Minister of Defence, Major General Bashir Magashi (retd.), pledged that the Ministry would continue to ensure the prompt payment of the entitlements and death benefits of the deceased servicemen.

 

According to him, scholarship programme for the children of the deceased up to the tertiary level is being implemented.

 

He, however, called on well-meaning corporate and Non-Governmental Organisations to prioritise the alleviation of the hardship faced by widows and orphans of the departed heroes.

 

The Chief of Defence Staff, Gen. Lucky Irabor, on behalf of the Armed Forces; the Inspector-General of Police, Alkali Baba, on behalf of the intelligence community;  and the Central Bank Governor,  Godwin Emefiele, on behalf of the Bankers’ Committee; pledged donations to the Nigerian legion at the Emblem Appeal Launch.

 

The event was also witnessed by many senior government officials and dignitaries from various sectors, including Vice-President Yemi Osinbajo, President of the Senate, Dr Ahmed Lawan; ministers, military and other security chiefs, among others.

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BIG STORY

BREAKING: GTCO Becomes First Banking Stock To Exceed N100 On NGX

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Guaranty Trust Holding Company has achieved a strong mid-market showing during the July 16, 2025, trading session, surpassing the N100 milestone.

This makes GTCO the first banking stock listed under the NGX Banking Index to cross the N100 benchmark, while Stanbic IBTC Holdings remained just below at N99.

The upward movement aligns with the broader positive sentiment in the banking sector, where the NGX Banking Index has gained over 22% so far in July.

The development follows GTCO’s recent dual listing, which involved 2.29 billion ordinary shares being listed on the London Stock Exchange on July 9, 2025, and another 2.28 billion shares added to the Nigerian Exchange the next day.

The stock’s rise appears driven by investor response to its cross-border listing and its strong Q1 2024 financial performance. Month-to-date, GTCO has posted a gain exceeding 27%.

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BIG STORY

BREAKING: Atiku Abubakar Resigns From PDP

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The presidential flagbearer of the Peoples Democratic Party in the 2023 general elections, Alhaji Atiku Abubakar, has officially withdrawn his membership from the opposition party.

Atiku submitted his resignation ahead of the 2027 general elections, following confirmation of his involvement in forming a new coalition known as the Alliance Democratic Congress.

The resignation was contained in a letter dated Monday, July 14, 2025, and addressed to the chairman of the PDP in Jada 1 ward, Jada Local Government Area, Adamawa State.

A copy of the letter was shared on X by the Special Assistant on Media to the former Vice President on Wednesday.

The letter stated, “I am writing to formally resign my membership from the People’s Democratic Party (PDP) with immediate effect.

“I would like to take this opportunity to express my profound gratitude for the opportunities I have been given by the party.

“Serving two full terms as Vice President of Nigeria and being a presidential candidate twice has been one of the most significant chapters of my life.

“As a founding father of this esteemed party, it is indeed heartbreaking for me to make this decision.

“However, I find it necessary to part ways due to the current trajectory the party has taken, which I believe diverges from the foundational principles we stood for. It is with a heavy heart that I resign, recognising the irreconcilable differences that have emerged.

“I wish the party and its leadership all the best in the future. Thank you once again for the opportunities and support.”

 

More to come…

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BIG STORY

EFCC To Appeal Ruling Acquitting Fayose Of Money Laundering Charges

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The Economic and Financial Crimes Commission (EFCC) says it will challenge the judgment that cleared Ayodele Fayose, former governor of Ekiti state, of money laundering and fraud accusations.

In his decision on a no-case submission, Justice Chukwujekwu Aneke ruled that the prosecution did not provide enough evidence to require Fayose to present a defence.

After the judgment, EFCC counsel Rotimi Jacobs stated that the commission would obtain the certified judgment and begin the appeal process.

Fayose and his company, Spotless Investment Limited, had been re-arraigned on an 11-count charge of laundering ₦6.9 billion, allegedly during his time as governor.

The charges included allegations that Fayose received ₦1.2 billion for his 2014 campaign and accepted $5 million in cash from Obanikoro, bypassing standard banking procedures.

He was also accused of laundering several sums and using over ₦1.6 billion to purchase properties via proxies and firms such as De Privateer Ltd and Still Earth Ltd, contrary to the Money Laundering (Prohibition) Act, 2011.

During the May 19 no-case submission, Kanu Agabi, Fayose’s lawyer, argued that the prosecution failed to prove its case and pointed out that Abiodun Agbele, allegedly central to the transactions, wasn’t charged, which weakened the EFCC’s position.

“With due respect, the predicate offences do not hold water. Criminal breach of trust and conspiracy are distinct offences, and no co-conspirator was charged,” Agabi stated.

He asked the court to find that Fayose had no case to answer.

Olalekan Ojo, lawyer for the second defendant, also submitted a separate no-case application dated March 21, 2025, with supporting documents filed on May 16.

Ojo contended that the main evidence provided by the prosecution, particularly Obanikoro’s testimony, was unreliable since he confirmed there was no direct communication between Fayose and Sambo Dasuki, the former national security adviser.

Jacobs, however, urged the judge to dismiss the no-case submissions, arguing that there were unexplained financial activities that needed clarification.

He questioned why Fayose didn’t use his personal account if the money was legitimate, referencing EFCC investigator Abubakar Madaki’s claim that Fayose acquired properties through associates who later denied ownership, even though Fayose admitted the properties were his.

“If the money was clean, why not buy the properties in his name?” Jacobs asked.

He also referred to Obanikoro’s account that Fayose requested the money in cash and introduced Agbele to receive it, saying Fayose must explain these actions.

Despite these arguments, the court ruled in favour of the defendants and granted the no-case submission.

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