All Posts in "Month: October 2025"

Hold election in 2026 to avert post poll distraction – Ogunbanwo tells INEC

Member representing Ijebu Central Federal Constituency in the House of Representatives, Femi Ogunbanwo, has thrown his weight behind a proposal before the National Assembly to move Nigeria’s next general elections to late 2026, six months earlier than the traditional February 2027 schedule.

The proposal, contained in the Electoral Act (Amendment) Bill 2025, was unveiled on Monday during a joint public hearing organised by the Senate and House Committees on Electoral Matters in Abuja.

The bill, which seeks to repeal the 2022 Electoral Act and enact a new one, has drawn wide input from lawmakers, civil society groups, and electoral stakeholders.

Ogunbanwo argued that the move would allow ample time for election litigation to be concluded before the swearing-in of newly elected officials in 2027.

He spoke on Thursday while featuring as a guest on Frontline, a current affairs programme on Eagle 102.5 FM, Ilese-Ijebu, monitored by our correspondent in Abeokuta.

According to him, the adjustment will strengthen political stability and improve public trust in Nigeria’s democratic process.

Ogunbanwo recalled his own experience awaiting a court judgment while in office, describing it as “a psychological burden that creates uncertainty and affects performance.”

The lawmaker said, “One of the proposals is that we should move the election forward to maybe late 2026 as against early 2027, so that there could be enough time to resolve election litigation matters and allow the judicial process to conclude before swearing-in.

“We have not brought it to the House yet; it’s still being considered at the committee level. After gathering all the submissions, the committee will come up with its recommendations. So, as we speak, it remains a proposal.

“It will allow whoever wins the election to concentrate from day one. After swearing-in, you see people spending three to six months in court, unsure of their fate. I remember my own experience — on the day judgment was to be delivered in my case, I was in plenary, and colleagues asked why I wasn’t at home.

“They said, ‘If the judgment isn’t in your favour, from here you’ll just go home and your office will be sealed.’ That uncertainty affects performance.”

DAILY POST reports Ogunbanwo’s position aligns with growing calls for electoral reform following the prolonged court battles that trailed the 2019 and 2023 general elections.

In both cases, several governors and lawmakers were inaugurated while still facing petitions, creating months of uncertainty and governance disruptions.

While some support the proposed reform, critics warn that it could compress governance periods and deepen Nigeria’s campaign fatigue, and others advocate judicial reforms such as directing presidential election petitions straight to the Supreme Court, as practiced in Kenya.

Dan Poster by — October 17, 2025 in Politics 0
Police interrogate three Abia monarchs, local security commanders over reported killings

Abia State Police Command has said that it is aware of the broadcast by Arise TV on the alleged killing of young men and adult males by members of local community security watch groups in Umuogele (Aba South LGA), Iheorji (Aba South LGA), and Nkpaevula (Ugwunagbo LGA) with the backing of their respective traditional rulers (Ezes).

This is even as it said that the traditional rulers, youth leaders and vigilante commanders of the affected communities are currently being interrogated by the police.

A statement issued on Thursday by the Police Public Relations Officer, PPRO, DSP Maureen Chinaka, however, clarified that no such report of killings was received at the Command Headquarters, Area Commands nor at any Divisional Police Headquarters.

She also said that no related complaint has been lodged through the Command’s emergency contacts, Complaint Response Unit or any of its verified social media channels.

The PPRO added that an investigation team headed by the Deputy Commissioner of Police, State Criminal Investigation Department (SCID), has been set up to look into the alleged incidents and examine the circumstances surrounding them, with the mandate to identify and track down the perpetrators of the alleged crime.

“All relevant stakeholders, including the Ezes, vigilante commanders and youth leaders from the affected communities are currently being interrogated by the police”, the statement said.

According to the spokesperson, the commissioner of Police, Danladi Isa encouraged members of the public to speak up and report incidents that threatened their security through appropriate police channels.

Dan Poster by — October 17, 2025 in General News 0
NDDC–NDCCITMA launches N1.5bn loan for Delta SMEs

Delta map

The Niger Delta Development Commission and the Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture have launched a N1.5bn loan scheme for small and medium-scale enterprises across the region.

The initiative, flagged off in Port Harcourt, Rivers State, is aimed at improving livelihoods, tackling poverty, and driving economic growth in the Niger Delta.

Speaking at the event, the NDDC Director of Commercial, Industrial and Trade Development, Mrs. Lyna Okara, said the loan scheme would give small businesses access to capital to expand their operations and become more sustainable.

Okara, who also chairs the NDDC–NDCCITMA Implementation Committee, said the partnership was part of the commission’s renewed effort to make the Niger Delta economically competitive.

“Over the years, NDDC has taken different steps to get to this point. We have attempted several schemes to ensure everyone in the region has access to grow their businesses, but it has been a challenge,” she said.

“With the establishment of NDCCITMA two years ago, we have found a more effective model. Through this partnership, people can now access small loans to grow their businesses, and we are confident that in a few years, the Niger Delta will become a region to be reckoned with in Nigeria.”

She commended the NDDC management and board for their commitment to economic empowerment, urging beneficiaries to use the loans prudently.

“Whatever funding you receive is meant to multiply your business. Use it wisely so others can also benefit from future rounds of this programme,” she advised.

Chairman of the NDCCITMA, Mr Idaeregogo Ogan, said the initiative was designed to reach even the poorest entrepreneurs in the region, noting that the N1.5bn disbursement marked the first phase of the project.

Ogan explained that the loan package covered four categories of beneficiaries — nano, micro, small, and medium enterprises — with the least amount pegged at N200,000 and the highest between N20m and N50m.

“We have the nano businesses getting N200,000 each; micro, N3m; small, N7m; and medium, between N20m and N50m — all at a single-digit interest rate of nine per cent per annum, which is about 0.6 per cent monthly,” he said.

“Today, we are rolling out N1.5bn. By December, another N2bn will be disbursed to the next batch of beneficiaries.”

He added that applicants had been carefully profiled and trained to ensure proper use of the funds.

“We are not just handing out money. We’ve profiled the businesses, trained the owners, and ensured they understand basic bookkeeping. These are viable enterprises ready to grow, not political handouts,” he said.

Ogan expressed optimism that the initiative would lift more than 2,000 people out of poverty and transform the economic outlook of the Niger Delta.

“Through this scheme, we will bring over 2,000 people in the Niger Delta out of poverty. It’s time to tell a new story about our region — one of enterprise, self-reliance, and shared prosperity,” he stated.

Dan Poster by — October 17, 2025 in General News 0
Arik Air had non-performing loan before my exit – AMCON ex-director

Arik-AirA prosecution witness and former Executive Director of Credits at the Asset Management Corporation of Nigeria, Muhammed Jega, on Wednesday told the Lagos State Special Offences Court, Ikeja, that the facility granted to Arik Air by Union Bank Plc for aircraft purchase had become non-performing before he left AMCON in 2015.

The Economic and Financial Crimes Commission is prosecuting former AMCON Managing Director, Ahmed Kuru; former Receiver Manager of Arik Air, Kamilu Omokide; Arik Air Chief Executive Officer, Roy Ilegbodu; Union Bank Plc; and Super Bravo Limited over alleged N76bn and $31.5m fraud.

They are facing five counts bordering on theft, abuse of office, and dishonest acquisition of property.

Union Bank is also facing an additional count for allegedly making false statements to a public officer.

While being cross-examined by defence counsel, Olalekan Ojo (SAN), Jega said AMCON did not file a formal petition to security agencies over alleged misrepresentation by Union Bank in the sale of Arik’s loan but sent a letter to the EFCC instead.

“Up to the time I left AMCON, the loans taken by Arik Air were still unpaid,” Jega said.

He told the court that he was unaware of any directive from the Central Bank of Nigeria concerning Union Bank’s loan to Arik before his departure from AMCON

Dan Poster by — October 17, 2025 in General News 0
Don’t shield criminals, COAS urges Imo residents

Oluyede assumes office as acting Chief of Army Staff Credit: X|DefenceInfoNG

The Chief of Army Staff, Lt.-Gen. Olufemi Oluyede, has urged residents of Imo State not to condone or shield criminal elements in their communities.

Oluyede gave the charge during a key stakeholders’ engagement forum with the theme “Taking the Nigerian Army to the Communities,” held on Thursday in Owerri, the state capital.

Represented by  Maj. Gen. Obinna Ajunwa, the Army chief called for joint efforts between citizens and security agencies to ensure peace and security in Imo and across the country.

Ajunwa cautioned that tolerating criminality would only worsen insecurity and bring suffering upon communities.

“What you condone is what you tolerate, and what you tolerate is what will destroy you,” he said.

He assured that the Nigerian Army would continue to engage and listen to the people in its efforts to secure the nation, noting that most security threats confronting the country were internal rather than external.

In his welcome address, the Chief of Civil–Military Affairs, Maj.-Gen. Gold Chibuisi, said the forum was one of the Army’s non-kinetic strategies aimed at strengthening public confidence and cooperation in tackling insecurity.

Chibuisi explained that the engagement was designed to gather ideas and suggestions that could improve the Army’s operational activities.

“Insecurity is an ill wind that blows no one any good. Over the years, the components of our security landscape have evolved from traditional threats to more sophisticated challenges that make every citizen a stakeholder in achieving national security,” he said.

“While the Nigerian Army and other security agencies may be the primary responders, defeating our common enemy requires the collective effort of all law-abiding Nigerians.”

Chairman of the Imo State Council of Traditional Rulers and Community Policing, Eze Emmanuel Okeke, described the forum as timely and reaffirmed the commitment of traditional institutions to continued collaboration with security agencies in combating crime.

Also speaking, the Acting Chairman of the Christian Association of Nigeria (CAN), Imo State chapter, Rev. Uzoma Uzoeshi, recommended seven measures to enhance peace and security. These include strengthened community engagement, youth entrepreneurship, a more robust justice system, adoption of equity and fairness, improved surveillance and monitoring to curb drug-related crimes, interfaith dialogue, and sustained collaboration among religious, traditional, and socio-economic groups to promote peace

Dan Poster by — October 17, 2025 in General News 0
Ajaero faults partial implementation of minimum wage in Abia varsity

The National President of the Nigeria Labour Congress, Comrade Joe Ajaero, has faulted the alleged non-implementation of the new minimum wage for certain categories of staff at Abia State University, Uturu.

Ajaero said non-teaching staff on levels 7 to 15 in the university were excluded from the wage adjustment, while levels 1 to 6 of both teaching and non-teaching staff benefited.

He made this known on Wednesday when Governor Alex Otti received a delegation of the NLC led by him in Umuahia.

Ajaero stated, “Permit me to point out that the minimum wage (of 2024) promised and paid to Abia workers was denied to Abia State University on levels 7 to 15 of non-teaching staff, while levels 1 to 6 teaching staff and non-teaching staff benefited.”

The NLC President said his visit was motivated by issues “at a conscience level,” adding that the NLC had earlier written to the governor and others to address some pressing labour concerns.

“Basically, while we were here, there happened to be issues at a conscience level, for which we wrote a letter to the governor and other governors in the country.

“And he was one of the few who responded and gave us a closed date. This is the first official receipt we have paid to any government house in the Southeast since we came abroad,” he said.

Ajaero added that the NLC’s criticisms were aimed at helping governments improve governance and welfare delivery.

“We do our own criticism to enable any government that is concerned to do more. The issue of minimum wage to cohorts, the health sector, buses, secretariat, check-off dues, and TSS to teachers, among others, is of paramount importance to us.

“I think that the issue of even monthly check-off dues in those areas, because the one I said before was national, but in those areas, even where they have paid their arrears, the dues were not implemented.

“The question is, what is happening? Where is our money going? So, we are not afraid — the best thing is to have a first-hand discussion with the governor so that we can manage it very well,” he said.

The NLC boss commended Otti for the progress made in Abia State, saying the government’s achievements should reflect on workers’ welfare.

“Definitely, things have improved in Abia. I think that Abia is not doing badly, and it should reflect on the workers.

“We normally have NLC schools where we train workers half-time and two times a year. For some time now, we have observed that people are not coming from Abia. I think we should look into it.

“That is where the issue of maintaining industrial peace and harmony, negotiation skills, and all that is treated. Anybody who enters Abia will know that there is a big difference,” he added.

Responding, Otti reaffirmed his administration’s commitment to workers’ welfare, describing his government as labour-friendly.

“For us, our relationship with Labour has been very cordial, and we all work for the same purpose. Because at the end of the day, government is about the welfare of the people, and who are the people? The people who work,” Otti said.

He disclosed that his administration recently recruited 5,394 new teachers and was in the process of employing 771 health professionals to strengthen the education and health sectors.

“You may also have heard that not too long ago, precisely by the 22nd of last month, 5,394 new teachers were recruited and deployed to our schools.

“Interestingly, the minimum wage for teachers is higher than the ordinary minimum wage. As we speak, we are hiring about 771 medical professionals to deploy to our hospitals,” he stated.

Otti also revealed that his administration was currently paying 16 years of outstanding death benefits to the next of kin of deceased Abia workers, in addition to settling pension arrears owed by past administrations

Dan Poster by — October 17, 2025 in General News 0
SON unveils certification scheme to boost Nigeria’s export

Standards-Organisation-of-Nigeria-SON

The Standards Organisation of Nigeria has reaffirmed its commitment to strengthening Nigeria’s trade capacity and boosting the export of locally produced goods through its flagship export certification programme, SONEXCAP.

The Director-General of SON, Dr. Ifeanyi Okeke, made this known during the 2025 World Standards Day celebration held in Lagos.

He urged stakeholders to take advantage of the certification scheme to export their products across Africa and other overseas markets, noting that SONEXCAP provides solutions to challenges faced by exporters.

According to him, the Standards Organisation of Nigeria Export Certification Programme was designed to enable locally manufactured goods to meet international quality requirements.

“The scheme ensures that Nigerian products, once certified, are accepted across African markets, particularly under the African Continental Free Trade Area framework.

“SONEXCAP is not just a certification initiative; it is our gateway to expanding Nigeria’s export frontiers. It builds confidence in Nigerian-made products and opens doors to regional and global markets,” Okeke explained.

Okeke highlighted the critical role of standards in facilitating trade and ensuring that Nigerian products gain international recognition and acceptance.

He advised exporters to take advantage of the opportunities provided by the scheme and do business with more friendly import destinations, thereby boosting wealth creation, job opportunities, and national development.

The Director-General emphasised that standards serve as the common language of trade, enabling countries to connect seamlessly across borders.

He noted that this year’s celebration, themed ‘Shared Vision for a Better World: Spotlight on Sustainable Development Goal 17’, underscores the importance of collaboration and partnership in achieving sustainable development.

According to him, no nation can achieve its development goals in isolation. He therefore called for stronger cooperation between government institutions, the private sector, academia, and civil society to advance Nigeria’s industrial and trade objectives.

“Our national goals in food security, industrialisation, energy transition, and export expansion depend on a strong national quality infrastructure,” he said.

Okeke stressed that conformity assessment cannot be achieved in isolation but only through stakeholders’ collaboration, partnership, and mutual trust.

He explained that such cooperation would also promote adherence to product standards, particularly for imported goods.

The Director-General further revealed that the organisation has strengthened its synergy with international partners to build capacity for product testing and certification, a move aimed at enhancing consumer confidence and protecting local industries.

In addition to ensuring that exported products meet international standards, SONEXCAP also supports small and medium-scale enterprises by helping them overcome barriers to market access through simplified certification procedures and improved product credibility.

Okeke encouraged Nigerian exporters and manufacturers to embrace SONEXCAP as a tool for competitiveness and growth, assuring that SON remains committed to providing technical support to businesses aspiring to access regional and global markets.

“When Nigerian products carry the SON mark of quality, it tells the world we are ready,” he said.

“SONEXCAP is our statement of confidence in the excellence and potential of the Nigerian industry,” he said.

As Nigeria continues its drive toward economic diversification, Okeke affirmed that the SONEXCAP initiative stands as a major step in positioning the country as a leading player in Africa’s single market.

The Director-General of the Manufacturers Association of Nigeria, Mr Segun Ajayi-Kadir, commended the SON under the leadership of Dr Ifeanyi Okeke for partnering with the association to boost trade.

Dan Poster by — October 17, 2025 in Business 0
Marketers confirm 600m Dangote petrol lifting target

Independent petroleum marketers have confirmed that the Dangote Petroleum Refinery has set a target to release up to 600 million litres of petrol monthly as part of efforts to stabilise supply in the domestic market and ease the recent surge in pump prices.

It said the new distribution framework is been finalised with 20 selected marketers that will see the release of up to 600 million litres of petrol monthly to stabilise the Nigerian downstream market amid lingering supply challenges and rising pump prices.

This was disclosed by the National Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, on Thursday, who confirmed that the refinery recently held a strategic meeting with key players in the downstream sector.

According to him, the meeting, which included representatives of A.Y.M. Shafa, A. A Rano, NNPCL Retail, Salbas, and several other major distributors, focused on how to streamline product allocation and reduce the layers of middlemen contributing to price distortions.

“At the meeting, Dangote announced plans to sell to only 20 selected marketers who will serve as primary distributors to other dealers. Each of them will lift a minimum of two million litres, which will translate to about 600 million litres every month,” Ukadike said.

He explained that the move was part of the refinery’s strategy to stabilise supply, eliminate speculation, and restore efficiency in product delivery across the country.

“We believe that once this structure takes effect, petrol availability will improve significantly and retail prices will start to ease,” he added.

The National Vice President of IPMAN, Hammed Fashola, also confirmed the arrangement, stating, “I have confirmed that 20 marketers have been shortlisted, although the final list has not yet been made public.”

Despite the refinery’s plan, filling stations in the Federal Capital Territory have continued to adjust pump prices upward amid tight supply.

Checks by The PUNCH showed that some stations, including Optima Energy, increased their prices from N945 to N955 per litre, while A.A. Rano also raised its pump price to N945 per litre. A.Y.M. Shafa sold its products at N940 per litre.

Independent marketers have attributed the recent hikes to supply bottlenecks, depot pricing inconsistencies, and delays in product loading from the refinery.

This challenge moved the price of the commodity to N1,000 per litre mark across major cities in the country.

Reacting, the Independent Petroleum Marketers Association of Nigeria has blamed depot owners for the sudden surge in petrol prices.

IPMAN President, Abubakar Shettima, told The PUNCH that depot owners increased their prices when they discovered that the Dangote refinery had stopped fuel loading for some days.

“These DAPPMAN people are the only ones who are selling the product now. But, probably, Dangote will start tomorrow (today). So, if Dangote starts selling tomorrow, the price will come down. Dangote has not been selling to marketers since all these days.

“You may see their trucks on the road, but the trucks are not enough; marketers still have to support by going there to load. And immediately, these DAPPMAN people saw that Dangote was not loading, they increased their ex-depot prices. That’s just what is happening. But I know these things are temporary, very soon they will wipe away,” Shettima said.

In a move expected to bring relief to transporters and industrial users, the Dangote Petroleum Refinery and Petrochemicals FZE has announced a N50 reduction in the ex-depot price of Automotive Gas Oil, popularly known as diesel.

According to a notice issued by the refinery’s Group Commercial Operations Department on Wednesday, the gantry price of diesel has been reviewed downward from N960 per litre to N910 per litre, effective October 15, 2025.

The refinery, in the circular titled “AGO Gantry Price Reduction”, informed its customers of the price change and expressed appreciation for their continued patronage.

Dan Poster by — October 17, 2025 in Business 0
FG moves to stop installation of fake CNG kits

FUEL PUMPThe Federal Government has taken steps to stop the use of substandard kits in the conversion of petrol/diesel-powered vehicles to compressed natural gas.

This was aimed at preventing any form of explosion during the CNG refilling process.

On Thursday, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, launched the Nigerian Gas Vehicle Monitoring System, a key step in the Federal Government’s drive to promote safety, accountability, and environmental integrity in the nation’s CNG sector.

Speaking at the pilot launch held at an NNPC Retail Station in Abuja, Ekpo said, “the NGVMS will ensure that only vehicles converted at accredited facilities with certified kits can access CNG at approved stations.”

A statement by the minister’s spokesman, Louis Ibah, quoted him as saying that the system will provide end-to-end oversight, from conversion to refuelling, guaranteeing the safety of citizens and the integrity of Nigeria’s growing CNG ecosystem.

Ekpo described the initiative as a milestone under President Bola Tinubu’s Renewed Hope Agenda and the Decade of Gas Initiative, aimed at making CNG the affordable and sustainable energy choice for Nigerians.

The Chairman/Chief Executive Officer of the Presidential Initiative on CNG, Ismaeel Ahmed, revealed that over $1bn in private sector investments have flowed into Nigeria’s CNG value chain.

He added that more conversion and refuelling stations will be commissioned nationwide before the year ends.

Leaders of various transport unions in Nigeria, in separate speeches at the event, expressed gratitude to Tinubu for launching the PiCNG to mitigate the impact of fuel subsidy removal in 2023.

They said that, under the initiative, members had benefited from over one million free CNG kits, buses, and tricycles, which has led to significantly reduced transportation costs and subsequently lowered the prices of foodstuffs across the country.

The union leaders urged the government to prioritise commercial vehicles in the CNG project, ensuring that they are given preference.

“Additionally, they appealed for the expansion of CNG stations nationwide, noting that only a few states currently have CNG conversion and refuelling stations. This, they believe, would further enhance the effectiveness of the initiative,” the statement read.

Dan Poster by — October 17, 2025 in Business 0
Nigeria to relaunch currency trade scheme after setback – CBN

Governor of the Central Bank of Nigeria, Olayemi CardosoThe Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that Nigeria is developing a new framework to enable the use of national currencies in bilateral trade settlements.

Speaking at a press briefing at the IMF/World Bank Annual Meetings in Washington DC, Cardoso explained that while the country had previously experimented with local currency trade agreements, the initiative did not yield the desired results.

“We have had an experiment with that (switching to national currencies in bilateral trade). And to be frank, it did not work out very well for us.

That is not to say that we are not interested in doing this. We are. And we are really at an elementary stage of putting up a framework, now that our currency is more competitive, to be able to ensure that it is a win‑win for everybody.”

He said the Central Bank was taking a more cautious and structured approach this time to ensure that future local currency trade arrangements deliver mutual benefits and reduce dependence on foreign exchange in cross-border transactions.

Bilateral currency trade arrangements, also known as local currency settlement agreements, allow two countries to trade directly using their national currencies instead of the U.S. dollar or other reserve currencies.

Nigeria has experimented with bilateral currency deals before, most notably with China, through the 2018 currency swap agreement signed between the Central Bank of Nigeria and the People’s Bank of China.

The deal, worth about N720bn (or RMB 15bn), was designed to ease pressure on Nigeria’s dollar reserves, promote trade with China, and make it easier for Nigerian importers to access yuan for Chinese goods.

However, the arrangement struggled to gain traction due to limited awareness among traders, logistical bottlenecks, exchange rate uncertainty, and the lack of a robust settlement framework. Many Nigerian businesses continued to rely on the U.S. dollar for imports, while local banks struggled to build sufficient yuan liquidity.

CBN officials later acknowledged that the pilot phase “did not work as efficiently as expected,” though it provided lessons for designing more effective future frameworks.

Despite this, a new bilateral currency swap agreement was agreed in December 2024 between Nigeria and China.

The renewed deal, jointly announced by the CBN and the People’s Bank of China, amounts to N3.28 tn, approximately 15 billion yuan or $2.09 bn.

Valid for three years and renewable upon mutual agreement, the swap deal aims to boost financial collaboration, simplify transactions involving the naira and yuan, and reduce reliance on the U.S. dollar in trade.

Cardoso’s comments suggest that the Central Bank is revisiting the idea of settling bilateral trade in national currencies, especially as the naira becomes more competitive following recent foreign exchange reforms.

Dan Poster by — October 17, 2025 in Business 0