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You Are Incapacitated, Hand Over To Me; Ondo Deputy Gov Tells Akeredolu

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Agboola Ajayi, deputy governor of Ondo state, has asked Rotimi Akeredolu, the governor, to hand over to him.

Akeredolu has been in isolation since Tuesday when he tested positive for COVID-19.

While announcing that he would be going into isolation, the governor appealed to the people to keep safe and observe the safety protocols of the Nigeria Centre for Disease Control (NCDC).

However, he was silent about transmitting power to his deputy.

When the issue of handing over to the deputy governor was raised at a media briefing on Friday, Donald Ojogho, commissioner for information, said the governor will never allow Ajayi to take control of the state.

“Handing over the governance of the state to Agboola is a non-issue and we are not even considering that. I know as a matter of fact that nobody would want to do that… He (deputy governor) has created an unusual scenario upon which he wanted to climb into the next step in his political ambition and we have seen this as a misadventure. We cannot toil with what we have built over the years. We cannot risk and attempt to hand over to someone who has exhibited the widest scenario of betrayal. So, it is unthinkable,” he had said.

But in a statement on Saturday, Ajayi said he ought to be the acting governor since Akeredolu has been partially incapacitated.

He said the refusal of the governor to allow him to take charge of the state amounts to a “flagrant disregard for the country’s constitution”.

“Section 190 (2) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) is apposite in the prevailing constitutional aberration in Ondo State,” Ajayi said in a statement Allen Sowore, his spokesman, issued on his behalf.

“However, it should be noted, that Mr Governor is at liberty to handover or not within 21 days after which the constitution becomes operational.

“Ostensibly, the refusal and failure of Mr Governor to handover the running of government to his deputy, while he is temporarily incapacitated in self- isolation, underscore his absolute disregard for our nation’s supreme document, 1999 Constitution (as amended) as well as the tenets of rule of law.

“The Governor’s position is a spite on the Ondo State people and a direct assault on the provisions of the constitution which he swore to uphold.

“Governor Akeredolu’s deliberate mounting of obstacles to smooth running of government machinery while he’s in self-isolation as a result of the fact that he has been tested positive for the COVID-19 privileges the hypocritical nature of Ondo State government’s war against the ravaging pandemic.”

Akeredolu and Ajayi have been having a running battle, which reached its height when the deputy governor resigned his membership of the All Progressives Congress (APC) and joined the Peoples Democratic Party (PDP).

The governor had fired all the aides attached to Ajayi’s office and his police escort was withdrawn until Mohammed Adamu, inspector-general of police intervened.

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

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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.

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Governor Babajide Sanwo-Olu Felicitates President Tinubu At 72

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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.”

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

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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.

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