Connect with us

BIG STORY

NYSC Certificate: I’m Vindicated, I’ll Take Steps To Redeem My Reputation —- Kemi Adeosun

Published

on

A former Minister of Finance, Kemi Adeosun, has hinted at a legal challenge to the smear campaign she suffered while in office.

She stated this after the Federal High Court in Abuja ruled that she was not eligible for the one-year mandatory service under the National Youth Service Corps scheme as of the time she graduated from the university.

She vowed in a statement titled, ‘Kemi Adeosun reacts to court judgement on NYSC certificate’, which she personally signed on Wednesday to take every step within legal boundaries to protect her reputation.

Adeosun resigned her appointment as minister in 2018 following a scandal over a forged National Youth Service Corps exemption certificate.

The former minister said, “My lawyers have informed me of the judgment by the Federal High Court, Abuja, in the case of Folakemi Adeosun vs The Attorney General of the Federation (FHC/ABJ/CS/303/2021) in which the court, presided over by Justice Taiwo Taiwo, ruled that the Constitution does not require me to present my first-degree certificate or any other certificate, including the NYSC certificate, to be appointed a minister.

“More importantly, he also ruled that I was not eligible to perform the NYSC by virtue of the Constitution. This is the position I have always maintained and I am happy for this official clarification.

“The ruling vindicates me after a very traumatic spell. It is, however, not only a personal victory; it’s also a victory for many Nigerians in the Diaspora under similar conditions, who are desirous to serve their country.

“I wish to thank God, my family, friends, my counsel, Chief Wole Olanipekun (SAN), and numerous well-wishers for their love, care, and concern throughout this difficult period, which has lasted three whole years.

“I wish to add that in the light of the court’s ruling, I will at the appropriate time and without hesitation, take all further steps necessary within the law to protect my reputation.”

Earlier, Justice Taiwo Taiwo had ruled that Adeosun was not yet a Nigerian citizen both at the time she graduated and when she turned 30 years.

The court also ruled that she did not need to present a certificate from the National Youth Service Corps before she would qualify for an appointment as a minister.

Consequently, the court held that her appointment was neither illegal nor unconstitutional, even without participating in the NYSC programme.

In the suit marked FHC/ABJ/CS/303/2021, Adeosun had approached the court for a constitutional interpretation on the NYSC certificate controversy.

She was represented by lawyers from the firm of Chief Wole Olanipekun.

The court stated that she was under no constitutional prohibition from holding any office on the ground that she did not participate in the NYSC programme.

The court also ruled that she could not be subjected to any penalty in relation to her occupying a public office on the same ground.

Adeosun’s lawyers expressed their satisfaction with the ruling stating that the ruling vindicates their client.

“The court has made it clear that at the time she presented for public service starting from 2011 up till 2015, she was not required to perform the NYSC under 1979 constitution, since the client graduated in 1989.

“Through client’s travail which lasted sixty-nine days, the client was never in doubt about her innocence.

“Client chose to resign on September 14, 2018, because the client did not want the case to become a distraction to the government and the public. The client also believed that it would give her the opportunity to vigorously pursue a constitutional remedy to the end to clear her name.”

BIG STORY

Federal Government To Grant Mining Licenses To Only Companies That Process Locally

Published

on

Nigeria will only grant new mining licences to companies that present a plan on how minerals would be processed locally, under new guidelines being developed, a government spokesperson confirmed on Thursday.

This is a departure from Nigeria’s long-standing practice of exporting raw commodities, as governments around Africa work to increase the value derived from their substantial mineral reserves.

To spur investment, Nigeria will offer investors incentives including tax waivers for importing mining equipment, make it easier to secure electricity generation licences, allow full repatriation of profits and boost security, Segun Tomori, a spokesperson for Nigeria’s minister of solid minerals development said.

“In exchange, we have to review their plans for setting up a plant and how they would add value to the Nigerian economy,” Tomori said. He did not say when the guidelines would be finalised or come into effect.

However, last week the minister of solid minerals development, Dele Alake, said it was now government policy to make value addition a condition for obtaining licences so as to create jobs and help local communities.

Alake, who also chairs an African mining strategy group comprising mining ministers from Uganda, Democratic Republic of Congo, Sierra Leone, Somalia, South Sudan, Botswana, Zambia and Namibia, is pushing for a continent-wide effort to get maximum local benefit from mineral exploration.

Nigeria, Africa’s top energy producer, has struggled to extract value from its vast mineral resources due to poor incentives and neglect. The underdeveloped mining sector contributes less than 1% of the country’s gross domestic product.

Last year Nigeria exported mostly tin ore and concentrates worth about 137.59 billion naira ($108.34 million), mainly to China and Malaysia, according to the country’s statistics bureau.

The government aims to drive more investment into the sector by issuing more licenses. It has set up a state-owned solid minerals corporation offering investors a 75% stake and established a special security unit tasked with fighting illegal miners.

The government is also trying to regulate artisanal miners, who dominate the sector, by grouping them into cooperatives.

Foreign mining companies operating in Nigeria include Canada-based Thor Explorations which is involved in gold exploration, Chinese-owned Xiang Hui International Mining which partnered with a local company to process gold, and Indian-owned African Natural Resources and Mines, which is building a $600m iron ore processing plant in northern Nigeria.

Continue Reading

BIG STORY

Governor Babajide Sanwo-Olu Felicitates President Tinubu At 72

Published

on

Governor Babajide Sanwo-Olu, has congratulated President Bola Ahmed Tinubu on his 72nd birthday, describing him as a brave, bold, and passionate leader who is dedicated to the advancement, growth, and development of Nigeria.

He said that President Tinubu’s contribution to the nation’s growth is cause for celebration, citing the President’s unparalleled bravery, integrity, honesty, and patriotism in his efforts to steer Nigeria’s ship in the correct path since he into office on May 29, 2023.

Governor Sanwo-Olu, in a statement issued on Thursday by his Special Adviser, Media and Publicity, Mr. Gboyega Akosile, said President Tinubu has provided honest and transparent leadership in Nigeria by taking bold decisions to address challenges militating against the prosperity of Nigeria and Nigerians.

Sanwo-Olu further described the President as a visionary and master strategist whose democratic credentials are scholarly materials for study in political economy.

He said: “On behalf of my family, the government, the people of Lagos State,  members of the Governance Advisory Council (GAC), leaders, and members of the ruling All Progressives Congress (APC) in Lagos State, I congratulate our leader, President Bola Tinubu, on the occasion of his 72nd birthday.

“President Tinubu has sacrificed the greater part of his life in the service of our dear State and Nigeria. He contributed to the enthronement of democracy and good governance, serving first as a Senator in the aborted third republic and later as a pro-democracy activist, working tirelessly as a member of the National Democratic Coalition (NADECO) to struggle for the de-annulment of the June 12, 1993 presidential election.

“President Tinubu’s financial wizardry and economic intellect, which he put to good use as the Governor of Lagos State, have taken our dear state to a greater height. Today, Lagos is the pride of Nigeria, occupying an enviable position as the fifth largest economy in Africa.

“President Tinubu has made positive impacts in the country through the Renewed Hope agenda of his administration. His unblemished service and track record of impressive achievements in public office have made him a role model for many Nigerians.

“As President Tinubu celebrates his 72nd birthday, it is our prayer that God will grant him more prosperous years in good health and wisdom as he continues to serve our dear nation.”

Continue Reading

BIG STORY

JUST IN: CBN Increases Banks Capital Base To N500bn, N200bn For National Commercial Banks

Published

on

The capital basis for commercial banks with international permission has been raised to N500 billion by the Central Bank of Nigeria (CBN).

The policy change was confirmed by Mrs. Hakama Sidi Ali, CBN’s acting director of corporate communications. in a declaration.

She added that commercial banks with regional authorization are expected to reach a capital floor of N50 billion, while those with national authority must meet a ceiling of N200 billion.

Announced on Thursday, March 28, 2024, this comprehensive financial reform requires significant increases in banks’ minimum capital bases, which vary depending on the size of the bank.

The latest policy directive specifies that commercial banks with international authorization are now required to shore up their capital base to N500 billion.

In a bid to tighten the financial fabric, the CBN has not overlooked merchant banks, which are now subject to a N50 billion minimum capital requirement.

Continue Reading

Most Popular