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Tony Elumelu, Dangote Others Named As PECC Members As President Tinubu Establishes Comprehensive Economic Coordination And Planning System For Nigeria

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In a strategic move to bolster the nation’s economic governance frameworks and ensure robust and coordinated economic planning and implementation, President Bola Ahmed Tinubu has approved the establishment of the Presidential Economic Coordination Council (PECC) and the creation of the Economic Management Team Emergency Taskforce (EET).

The Presidential Economic Coordination Council (PECC) comprises distinguished leaders and key government officials, including:

(1) President of the Federal Republic of Nigeria – Chairman of the PECC

(2) Vice-President of the Federal Republic of Nigeria – Vice-Chairman of the PECC / NEC Chairman

(3) President of the Nigerian Senate

(4) Chairman, Nigeria Governors’ Forum

(5) Coordinating Minister for the Economy and Minister of Finance

(6) Governor of the Central Bank of Nigeria

(7) Minister of Agriculture and Food Security

(8) Minister of Aviation and Aerospace Development

(9) Minister of Budget and Economic Planning

(10)Minister of Communications, Innovation and Digital Economy

(11)Minister of Industry, Trade and Investment

(12)Minister of Labour and Employment

(13) Minister of Marine and Blue Economy

(14) Minister of Power

(15)Minister of State, Petroleum Resources

(16)Minister of State, Gas

(17)Minister of Transportation

(18)Minister of Works

The PECC will also comprise key members of the organized private sector, with the following members joining for a period not exceeding one (1) year, subject to the President’s directive:

(1) Alhaji Aliko Dangote

(2) Mr. Tony Elumelu

(3) Alhaji Abdulsamad Rabiu

(4) Ms. Amina Maina

(5) Mr. Begun Ajayi-Kadir

(6) Mrs. Funke Okpeke

(7) Dr. Doyin Salami

(8) Mr. Patrick Okigbo

(9) Mr. Kola Adesina

(10)Mr. Segun Agbaje

(11)Mr. Chidi Ajaere

(12)Mr. Abdulkadir Aliu

(13)Mr. Rasheed Sarumi

Furthermore, in his determination to address immediate economic challenges and ensure the streamlined execution of economic strategies, President Bola Tinubu has established the Economic Management Team Emergency Taskforce (EET) with a mandate to formulate and implement a consolidated emergency economic plan. The taskforce comprises key government officials and industry leaders in furtherance of the President’s collaborative approach toward achieving economic resilience and growth. The EET is now mandated to submit a comprehensive plan of economic interventions for 2024 to the PECC, covering the next six (6) months, for immediate implementation within two weeks of its inauguration. The EET will meet twice weekly and is composed of the following members:

(1) Coordinating Minister for the Economy and Minister of Finance (Chairman of the EET)

(2) Minister of Budget and Economic Planning

(3) Minister of Power

(4) Minister of Agriculture and Food Security

(5) Coordinating Minister of Health and Social Welfare

(6) Minister of Industry, Trade and Investment

(7) Governor of the Central Bank of Nigeria

(8) National Security Adviser

(9) Chairman, Nigeria Governors’ Forum

(10) Governor of Anambra State

(11)Governor of Ogun State

(12)Governor of Niger State

(13)Executive Chairman, Federal Inland Revenue Service

(14)Director-General, Budget Office of the Federation

(15)GCEO, NNPC Limited

(16) Director-General, Nigeria Economic Summit Group

(17)Special Adviser to the President on Energy

(18)Dr. Bismarck Rewane, Economist

(19)Dr. Suleyman Ndanusa, Economist

The Economic Management Team, established in October 2023, and chaired by the Coordinating Minister for the Economy and Minister of Finance, serves as the working group under the Presidential Economic Coordination Council (PECC), playing a crucial role in the economic governance structure established by the President. The EMT traditionally meets monthly or as required, but will now suspend its meetings for the duration of the EET’s mandate (six months). The EMT is composed of the following officials:

(1) Coordinating Minister for the Economy and Minister of Finance (EMT Chairman)

(2) Governor of the Central Bank of Nigeria

(3) Minister of Budget and Economic Planning

(4) Minister of Industry, Trade and Investment

(5) Minister of Communications, Innovation and Digital Economy

(6) Minister of Works

(7) Minister of Labour and Employment

(8) Minister of Agriculture and Food Security

(9) Minister of State, Petroleum Resources

(10) Minister of State, Gas

(11) Minister of Power

(12) Minister of Transportation

(13) Minister of Aviation and Aerospace Development

(14) Minister of Marine and Blue Economy

The Chairman of the EMT may, as needed, call on any Federal Minister or Head of Agency to brief the EMT on key programmes and developments affecting the economy.

The President’s formation of the PECC, under his Chairmanship, alongside the creation of the EET, led by the Chairman of the EMT, and the EMT itself, is the manifestation of a unified strategy aimed at enhancing Nigeria’s economic management architecture for verifiably improved performance. The formation of these teams will complement existing economic governance structures, including the National Economic Council (NEC), which is chaired by the Vice-President.

Over the next six months, the EET will focus on the rapid implementation, monitoring, and evaluation of critical initiatives, strengthening the Tinubu-led administration’s collective approach to advancing Nigeria’s economic objectives.

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BREAKING: Portable Remains In Police Custody After Failure To Meet Bail Conditions

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Popular street musician, Habeeb Okikiola, also known as Portable, has remained in police custody for failing to meet the bail conditions for his release.

It was earlier reported that he was arrested for allegedly refusing to pay the N14 million debt he incurred when he bought a G-Wagon from a car dealer in Lagos State.

According to the Lagos State Police Command’s spokesman, Benjamin Hudenyin, the singer will remain in detention pending when he’s able to produce a reliable surety before he can be granted bail.

“He has presented no reliable surety yet so he (Portable) is still with us,” Hundeyin said.

 

More to come…

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48-Yr-Old Nigerian Man Who Killed Wife With Son’s Skateboard In UK Jailed For Life

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Olubunmi Abodunde, a 48-year-old Nigerian man, who murdered his wife, Taiwo, with his son’s skateboard and blamed his loss of control on medication has been sentenced to life imprisonment in the United Kingdom.

Taiwo died in November 2023 from severe brain injuries sustained after the tragedy in their Newmarket home.

But according to the BBC, he acknowledged killing Taiwo, who had “catastrophic brain injuries.”

The severity of the attack at their Exning Road home that resulted in her death was observed by the Ipswich Crown Court. Abodunde will not be eligible for parole for at least 17 years in imprisonment.

The court was informed that Abodunde was arrested following a domestic incident that occurred the day before Taiwo passed away.

Contact with his spouse was prohibited by the terms of his release.

The next morning, despite these conditions, Abodunde went to the family home to retrieve a mobile phone.

Taiwo, a mother of three, was returning home from her overnight shift as a health care assistant.

Prosecutor Stephen Spence KC told the court that Abodunde was aware of his wife’s shift pattern and CCTV showed she had arrived back at about 09:12.

The court was informed that two officers had attended the property at about 09:20 to speak with Mrs Abodunde about the previous day’s domestic incident.

Spence stated, “Only the defendant now knows what happened. The officers repeatedly knocked on the door and notified them of their presence but got no response or heard any calls for help.”

However, between 40 and 50 “thuds” were heard and it was believed to be Abodunde attacking his wife.

Officers were given clearance by senior police officials to enter the property at 09:45, the court was told.

Spe4nce added, “When they entered the front door, they immediately found the lifeless body of Mrs Abodunde with her skull smashed in.”

Meanwhile, a postmortem examination revealed that Taiwo had suffered “catastrophic brain injuries”.

She also had injuries that were consistent with her body being “stamped on” as well as being hit with a skateboard.

This was found at the property covered in blood and fragments of skull.

The court was told the victim had also been strangled.

Meanwhile, the defendant could be heard sobbing from the dock as Spence addressed the court.

Police forced their way into the home after hearing bangs.

“It seems to me that he was waiting for confrontation. There is no debate that there was not going to be confrontation in my view,” he stated.

Akudolu said Abodunde “was a very well-respected man” both here in the UK and in Nigeria where the couple had previously moved from.

He had been a local councillor in Nigeria and had a local street in the country named after him.

The court heard the couple had a “history of frequent disputes over bills and money” with some “low-level violence” involved.

Akudolu told the court that “not a day will go by that [Abodunde] does not regret the misery” that he has caused.

In his ruling, Judge Levett described Taiwo’s killing as “ruthless, violent, savage and heartless”.

Levett said Abodunde had lied to officers telling them his wife had attempted to attack him with a knife the day before he murdered her, adding that Abodunde also claimed she had tried to beat him, but no evidence was found to substantiate this, the court was told.

While Levett spoke, Abodunde could be seen from the dock with his head in his hands while sobbing.

The Judge added that there had been “no self-defence at all” on Abodunde’s part, saying he had heard “no remorse other than sobs from the dock”.

Following the murder, Suffolk Police referred itself to the Independent Office for Police Conduct due to previous contact with the couple.

It said earlier this month, two officers were advised they were being investigated for gross misconduct over potential breaches of the standards of professional behaviour.

Another officer is under investigation for breaches amounting to misconduct.

An IOPC spokesman said, “This does not mean disciplinary proceedings will necessarily follow. Our investigation remains ongoing.”

 

Credit: BBC

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Court Grants Emefiele N300m Bail In Trial On Naira Notes Printing

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Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN), has been granted bail by a federal capital territory high court in the amount of N300 million.

Emefiele was charged with four counts by the Economic and Financial Crimes Commission (EFCC) and appeared before presiding judge MaryAnn Anenih on Tuesday.

Following the reading of the four counts against him, Emefiele entered a not guilty plea. Mahmud Magaji, Emefiele’s attorney, moved to request bail.

He urged the court to release his client on self-recognition, with the same terms and circumstances as those set down in the previous bail order from a coordinate court chaired by Hamza Muazu.

He added that the defendant will always be in court to face trial.

In her ruling, Anenih granted the former CBN governor bail in the sum of N300 million, with two sureties in like sum.

The court said the sureties must be residents of Nigeria and owners of properties within the Maitama district of Abuja, and that they must possess an affidavit of means.

Emefiele has also been asked to deposit his travel documents before the court. He is not permitted to leave the country without the permission of the court.

Anenih added that Emefiele should be remanded at Kuje Correctional Centre pending the fulfilment of his bail conditions.

The case has been adjourned to May 28 and 29 for commencement of trial.

The anti-graft agency is accusing Emefiele of “illegal” printing of naira notes in its fresh charge.

In the charge sheet seen by TheCable, EFCC alleges that Emefiele “disobeyed the direction of law with intent to cause injury to the public” by approving the printing of naira notes without “strict approval” from former President Muhammadu Buhari and the CBN board.

Emefiele is alleged to have approved the printing of N684.5 million notes at the rate of N18.96 billion.

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