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Today's Headline: Tinubu Seeks Dismissal Of APM Petition; I Spent 8 Yrs On Poverty Reduction - Fashola

Tinubu seeks dismissal of APM’s petition, says it lacks merit

Photo Credit: Vanguard News

The President-elect, Asiwaju Bola Tinubu, has asked the Presidential Election Petition Court, PEPC, sitting in Abuja to dismiss a petition the Allied Peoples Movement, APM, filed to nullify his election victory.

Tinubu, through his team of lawyers led by Chief Akin Olujinmi, SAN, maintained that the petition was bereft of merit and substance.

Photo Credit: Google

The APM had in its petition marked: CA/PEPC/04/2023, contended that the withdrawal of Mr. Ibrahim Masari who was initially nominated as the Vice-Presidential candidate of the All Progressives Congress, APC, invalidated Tinubu’s candidacy in view of Section 131(c) and 142 of the 1999 Constitution, as amended.

I spent 8 years on poverty reduction — Fashola

Photo Credit: Vanguard News

Minister of Works and Housing, Babatunde Fashola, yesterday, said eight years he spent as minister under the Buhari-led administration, was targeted at improving living conditions of Nigerians, and drastic reduction of multidimensional poverty.

The minister made the disclosure when he presented his scorecard in Abuja.

Fashola, while scoring himself high on project delivery, noted that his strides in the ministry were hugely influenced by the ideologies of the All Progressives Congress, APC.

EFCC arraigns director, four firms for alleged multi-billion fraud

Photo Credit: The Nation Nigeria

The Economic and Financial Crimes Commission (EFCC) on Monday arraigned a businesswoman, Saadatu Ramallan-Yaro, at the Federal High Court sitting in Lagos. for alleged money laundering.

Ramallan-Yaro, Director of April 1616 Investment Limited and Amsaymay Limited – both Designated Non-Financial Institutions – was brought before Justice Nicholas Oweibo.

Also arraigned on separate charges were four firms: April 1616 Investment Limited; Misabs International Limited, Armada Financial Services and Amsamay Limited, according to a statement by EFCC Head, Media & Publicity, Mr Wilson Uwujaren.

One of the counts against Ramallan-Yaro reads: “That you, Saadatu Ramallan-Yaro, being a Director of April 1616 Investment Limited, a Designated Non-Financial Institution, on or about the 3rd day of July 2020 in Lagos, failed to submit to the Ministry of Commerce a declaration of activities of the said company leading to deposit of the sum of N1.050bllion into account No. 1015006861.

Why Nigeria Must Join BRICS, By Femi Falana

Photo Credit: Sahara Reporters

About five years ago, the Federal Government of Nigeria and China entered into a currency exchange agreement. The transaction, which was valued at Renminbi (RMB) 16 billion or N720 billion was aimed at providing adequate local currency liquidity to Nigerian and Chinese industrialists and other businesses, thereby, reducing difficulties encountered in the search for the United States Dollar. The swap was also designed to improve the speed, convenience and volume of transactions between the two countries.

But the International Monetary Fund and the World Bank which superintend the Central Bank of Nigeria have colluded with the Central Bank of Nigeria to frustrate the currency swap. The purpose of the economic sabotage is to promote the dominance of the United States Dollar in Nigeria. Even though Nigeria has since become an important source of oil and petroleum for China’s rapidly growing economy, the Federal Government has continued to demand for payment in Dollar instead of Naira.

While other nations are making arrangements to promote their local currencies the Federal Government has continued to dollarise the Nigerian economy. Just recently, the Kenyan Government signed an agreement with Saudi Aramco to supply fuel and diesel for the next six months, while Abu Dhabi National Oil Company (Adnoc) will deliver three cargoes of super petrol every month. The deal permits local oil companies to pay for oil imported on credit through a government-to-government deal in Shillings to ease pressure on the local currency. Before the deal, Kenya was paying $500 million for the importation of petroleum products per month.

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Abuja Allied Peoples Movement


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