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N5bn Subsidy Removal Palliative To States Is A Loan — FG

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The relief aid given to the states by the federal government to cushion the effects of the removal of the petrol subsidy is a loan.

For each of the federation’s states, including the federal capital territory (FCT), the federal government had earlier promised a rescue package worth N5 billion.

At the conclusion of the national economic council (NEC) meeting on Thursday, Borno Governor Babagana Zulum said the palliative would allow state governments to purchase 100,000 bags of rice, 40,000 bags of maize, and fertilizers to lessen the impact of food shortages across the nation.

However, in a memo to governors entitled “Re: Distribution of Palliatives – Terms of FG Facility”, Asishana Okauru, director-general of Nigeria Governors Forum (NGF), said states might opt out of the offer and return a sum of N2 billion already given to them.

“I have been directed by the Chairman, H.E. AbdulRahman AbdulRazaq to forward the terms of the facility as follows,” Okauru said in the memo.

“Facility size: N4,000,000,000.00
Loan (48%): N1,920,000,000.00
FGN Grant: (52%)
N2,080,000,000.00 Beneficiary each state government
Tenure: 20 months
Interest Rate: Nil
Moratorium: Three months
Repayment Mode: Monthly
Repayment Amount: N120,000,000.00
Security Irrevocable Standing Payment Order (ISPO)

“Your excellency is invited to note that this offer is optional and states that do not wish to participate may opt-out and refund the N2 billion already disbursed to them.”

BIG STORY

JUST IN: Court Remands Lagos Teacher For Assaulting 3-Yr-Old Boy

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A 45-year-old teacher from Christ-Mitots International School, Stella Nwadigbo, has been remanded by a Magistrate Court in Ogba for allegedly assaulting a three-year-old child in the Ikorodu Local Government Area of Lagos State.

Nwadigbo, who was suspended by the school management in response to public outcry, was remanded by the court at Kirikiri Correctional Facility, awaiting the next hearing on February 18, 2025.

The teacher was remanded on Thursday after the Police arraigned her for beating a pupil, “Micheal Abayomi,” who was unable to write the numbers 16 and 61 during school hours.

 

More to come…

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BIG STORY

Japa, Agbero, Eba, 17 Other Nigerian Words Added To Oxford Dictionary

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The Oxford English Dictionary has broadened its vocabulary with 20 Nigerian words and expressions in its most recent update.

The newly included entries feature well-known terms such as “japa,” “agbero,” “eba,” “419,” and “abi,” among others.

These words, deeply embedded in the daily lives of Nigerians, underscore the influence of Pidgin English, street slang, and cultural expressions that are progressively gaining international recognition.

Notably, some of these words, like “japa” and “jand,” are listed as both nouns and verbs in the dictionary.

Pronunciation guides have been included to help non-Nigerians pronounce the words accurately.

Kingsley Ugwuanyi, a Nigerian English consultant for the Oxford English Dictionary, shared the update on LinkedIn on Tuesday.

He expressed enthusiasm about his involvement in drafting the words and recording their pronunciations.

Ugwuanyi wrote, “I’m thrilled to announce that the Oxford English Dictionary (OED) Oxford Languages | OUP has officially published its latest updates, featuring an amazing collection of Nigerian English words that beautifully reflect Nigeria’s culture, creativity, and the unique ways we express ourselves as Nigerians.

“This time, I not only drafted most of the words but also had the incredible opportunity to provide their hashtag#pronunciations! So, when you explore the OED online and click on the pronunciations, you’ll hear my hashtag#voice bringing these words to life.”

Among the entries, “japa” is defined as “the emigration of Nigerians to other countries (especially those in Europe or North America) in search of further education, employment, or economic opportunity.”

“Agbero” is described as “a person (usually a boy or young man) who works as a tout, typically at car parks and bus stops, collecting money from passengers and drivers, and ushering passengers onto vehicles.”

The term “419,” widely recognized in Nigeria, is defined as “Fraud (now usually perpetrated on the internet) involving requests for advance payment in return for a substantial share of a large amount of money, which ultimately is never given. Frequently as a modifier, as in 419 email, 419 scam, etc. Cf. yahoo n.2.”

Other words added include abi, adire (batik), area boy (lout), cross-carpet, cross-carpeting, eba, Edo, gele (headgear), jand (noun, verb), janded (adjective), Kanuri, Kobo, Naija, suya, Yahoo, Yahoo boy, and Yarn Dust.

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Alleged Fraud: Emefiele Loses Bid To Stop $4.5bn, N2.8bn Case

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The Lagos State Special Offences Court, on Wednesday, dismissed an application filed by former governor of the Central Bank of Nigeria, Godwin Emefiele, challenging the court’s jurisdiction to entertain the $4.5 billion and N2.8 billion fraud charges brought against him by the Economic and Financial Crimes Commission.

Justice Rahman Oshodi, in his ruling, held that the court had the jurisdiction to try Emefiele and his co-defendant, Henry Omoile.

The judge, however, struck out four of the 26 counts filed by the EFCC against the defendants for lack of jurisdiction.

“The objection challenging the court’s territorial jurisdiction over counts eight to 26 fails and is hereby dismissed.

“The prosecution has established sufficient territorial nexus in this case,” the court held.

To this end, the judge subsequently adjourned the case for trial continuation on February 24, 2025.

The EFCC had arraigned Emefiele on 26 charges, bordering on abuse of office and illegal allocation of $4.5 billion and N2.8 billion.

At the last adjourned date on December 12, 2024, Emefiele’s counsel, Mr. Olalekan Ojo (SAN), argued that the court lacked jurisdiction to hear the case in Lagos.

The embattled Emefiele was suspended as CBN governor on June 14, 2023, by President Bola Ahmed Tinubu’s government.

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