The Central Bank of Nigeria (CBN) has issued two major directives aimed at strengthening governance and transparency in the banking sector, ordering directors with non-performing loans to step down immediately while also requiring financial institutions to publish details of dormant accounts and unclaimed balances.

In a circular dated February 17 and signed by Acting Director of Banking Supervision Adetona Adedeji, the CBN mandated that bank directors with non-performing insider-related loans must immediately vacate their positions. Banks are also required to recover outstanding debts by enforcing collateral recovery and taking possession of affected directors' shareholdings.

"Directors with non-performing insider-related facilities are required to step down immediately from the board, while the bank should commence immediate remediation of the loans through the recovery of the collaterals including the shareholdings of the affected directors," the circular stated.

Under Section 19(5) of the Banking and Other Financial Institutions Act (BOFIA) 2020, individual directors cannot hold insider loans exceeding 5 percent of a bank's paid-up capital, while aggregate insider-related facilities must remain below 10 percent. The CBN has given banks 180 days to regularize loans exceeding these statutory limits.

In a separate directive issued Monday, the apex bank ordered all financial institutions to publish details of dormant accounts and unclaimed balances on their official websites. A dormant account is defined as one that has remained inactive for at least one year.

The publication must include "the name of the account, the type of account, the name of the bank, and the branch where the account is domiciled ONLY," according to the circular signed by Michael Akuka for the director of financial policy and regulation. Financial institutions without websites must publish this information on their association's website.

The CBN clarified that this directive is in compliance with Section 25(b) of the Nigeria Data Protection Act, which permits justifiable deviations from general principles, and Section 72(ii) of BOFIA, which authorizes the CBN to issue guidelines on administering unclaimed funds.

Financial institutions are also required to publish these details annually in at least two national daily newspapers. For State and Unit microfinance banks, the information can be displayed on their premises.

These directives follow the CBN's July 19, 2024 order for banks to deposit unclaimed balances and funds in dormant accounts to the apex bank, and the June 2024 revocation of Heritage Bank's license, signaling the regulator's continued push for stricter financial discipline in Nigeria's banking sector.​​​​​​​​​​​​​​​​

Edwin Clark, a former Federal Commissioner for Information and prominent South-South leader, passed away on Monday night at the age of 97. His death was announced by his family, who confirmed that the chairman of the Pan Niger Delta Forum (PANDEF) died peacefully.

President Bola Tinubu shared his grief on Tuesday, describing Clark as a "passionate advocate for resource control, economic, and environmental justice in the Niger Delta." Tinubu highlighted Clark's extensive service to Nigeria, noting his roles as a councillor, state, and federal cabinet member, and his significant influence on the national political scene for nearly six decades.

Former President Olusegun Obasanjo described the loss as a significant depletion of Nigeria's pool of patriotic leaders, lauding Clark's contributions as a lawyer, economist, administrator, politician, and community leader. He emphasized Clark's vocal advocacy for better conditions in the oil-rich Niger Delta states.

Muhammadu Buhari, another former president, expressed deep sorrow, calling Clark an "iconic statesman" whose dedication to reform and development would be long remembered. He urged the Clark family and the Delta region to cherish his legacy.

Emeka Anyaoku, the third Commonwealth Secretary-General, remembered Clark for his service across various governmental roles and his advocacy for Nigerian unity. Anyaoku noted Clark's efforts in fostering solidarity among different ethnic groups through his leadership at PANDEF.

Former Vice President Atiku Abubakar mourned Clark as a true federalist and patriot, especially poignant as the nation was still grappling with the recent death of another elder statesman, Pa Ayo Adebanjo.

Peter Obi, the Labour Party's presidential candidate in the 2023 elections, also shared his condolences via social media, reflecting on the back-to-back losses of Clark and Adebanjo.

The Nigeria Governors’ Forum, through its chairman Governor Abdulrahman Abdulrazaq, mourned the loss, describing both Clark and Adebanjo as voices of national importance whose legacies would endure.

Other tributes came from the Southern Governors Forum, Northern States Governors’ Forum, and various state governors like Douye Diri of Bayelsa, Bala Mohammed of Bauchi, Siminalayi Fubara of Rivers, Sheriff Oborevwori of Delta, and Monday Okpebholo of Edo, all recognizing Clark's significant contributions to Nigerian society, governance, and advocacy for the Niger Delta.

The Minister of Information and National Orientation, Mohammed Idris, also paid homage to Clark's wisdom and commitment to national progress, while PANDEF described his death as the fall of a "mighty Iroko tree."

Government officials, from local to national levels, along with various community leaders and organizations, expressed a collective sense of loss but also celebrated Clark's enduring legacy in Nigerian politics and society.

Israel will begin negotiations on next phase of Gaza ceasefire this week, minister says

Israel and Hamas will begin indirect negotiations on a second stage of the Gaza ceasefire deal, officials said on Tuesday, as the Palestinian militant group said it would hand over more hostages, including the bodies of two children, this week.

Khalil al-Hayya, leader of Hamas in Gaza, said the bodies of four hostages, including those of the Bibas family, would be returned on Thursday. Six living hostages would follow on Saturday.

Israeli Prime Minister Benjamin Netanyahu's office confirmed a deal was reached in Cairo to secure the release of six living hostages on Saturday, four deceased hostages on Thursday and four more next week, but stopped short at naming any of them.

An Israeli official said deceased hostages will undergo identification in Israel before they are named.

Negotiations for the second phase of the dealwere supposed to start on February 4 but Qatar, which together with Egypt and the United States is mediating between the sides, said the talks have not officially started yet.

"It will happen this week," Israeli Foreign Minister Gideon Saar told a press conference in Jerusalem.

Israel had given mixed signals in the past few weeks about its engagement in the talks over the next stage of the three-phased ceasefire, which came into effect on January 19 with the stated goal of permanently ending the Gaza war.

The Bibas family, including Kfir Bibas, who was less than a year old when he was abducted and his brother Ariel, 4 years old at the time, have been among the highest-profile Israeli hostages seized in the Oct 7, 2023 attack by Hamas.

Their father Yarden Bibas was released this month but their mother Shiri was not. Hamas said in late 2023 that Shiri and the children had been killed by Israeli bombardments.

Israel has not confirmed their deaths and has only said it has grave concern for their lives. After Hamas' announcement, it appealed to respect the hostage families' privacy.

The family said it was "in turmoil" since the announcement by Hamas. "Until we receive definitive confirmation, our journey is not over," it said in a statement.

The identity of the fourth deceased hostage has not yet been announced but the families of the six living hostages to be released on Saturday have been informed.

Eliyah Cohen, 27, Tal Shoham, 40, Omer Shem Tov, 22, Omer Wenkert, 23 were all taken hostage on Oct 7. Two others, Hisham Al-Sayed, 36, and Avera Mengistu, 39, crossed over into Gaza independently of each other around a decade ago and have been held since then.

NEGOTIATIONS OVER SECOND PHASE

The initial phase of the ceasefire deal, which includes a 42-day truce and the return of 33 Israeli hostages in exchange for hundreds of Palestinian prisoners and detainees, has remained on track despite a series of setbacks and accusations of violations that had threatened to derail it.

But negotiations over the second stage, aimed at securing the release of the remaining 64 hostages, are expected to be tough, because they include issues like the administration of post-war Gaza, where there are large gaps between the sides.

"We will not accept the continued presence of Hamas or any other terrorist organisation in Gaza," Saar said.

But he added that if the negotiations are constructive, Israel will remain engaged and may prolong the ceasefire.

"If we will see there is a constructive dialogue with a possible horizon of getting to an agreement (then) we will make this time-frame work longer," Saar said.

So far, 19 Israeli hostages have been returned in exchange for the release of hundreds of Palestinian prisoners and detainees. If the six living hostages and four bodies are returned this week, as announced, four more would remain. Based on information from Hamas, all four are thought to be dead.

The hostages were taken in the Hamas-led cross-border attack on October 7, 2023, which killed about 1,200 people in southern Israel, according to Israeli tallies.

Israel's retaliatory assault on Gaza has killed more than 48,000 Palestinians, according to Palestinian health officials, laid waste to much of the enclave, and displaced hundreds of thousands.

An Israeli official said Israel will also start allowing the entry of mobile homes for those Gazans forced to shelter from the winter weather among the ruins left by the 15 months of Israeli bombardments.

Hamas has accused Israel of delaying the delivery and had threatened to postpone the release of hostages until the issue was resolved.

The fragile ceasefire deal has also been overshadowed by U.S. President Donald Trump's call for Palestinians to be moved out and for Gaza to be taken over as a waterfront development under U.S. control.

The plan has been rejected by Palestinian groups, Arab states and Washington's Western allies who say it is tantamount to ethnic cleansing. Israeli leaders have argued that Gazans who want to leave the devastated enclave should be allowed to do so.

Israeli Defence Minister Israel Katz said on Monday he will set up a new unit in his ministry dedicated to facilitating the exit of Gaza residents who want to move to a third country, after reviewing an initial plan for it.

Reuters

WESTERN PERSPECTIVE

US, Russian officials propose peace plan, lay 'groundwork for cooperation' in Riyadh

U.S. and Russian officials held diplomatic talks in Saudi Arabia without any Ukrainian officials present on Tuesday.

The groups, led by Secretary of State Marco Rubio and his Russian counterpart, Foreign Minister Sergey Lavrov, are seeking terms for a peace agreement in Ukraine as well as negotiating a potential meeting between President Donald Trump and Russian President Vladimir Putin. They have proposed a framework that could involve a ceasefire, elections in Ukraine followed by the signing of a peace agreement.

State Department spokeswoman Tammy Bruce also confirmed that Rubio's team agreed to "lay the groundwork for cooperation" with Russia on various issues in addition to Ukraine. They also agreed to appoint "high-level teams" to begin working on a path to ending the conflict in Ukraine.

Reports from multiple foreign diplomatic sources say forcing Ukraine to hold new elections could be a key part of a peace deal. Both the U.S. and Russia believe Ukrainian President Volodymyr Zelenskyy has a low chance of winning re-election, the sources say.

"Putin assesses the probability of electing a puppet president as quite high and is also convinced that any candidate other than the current President of Ukraine will be more flexible and ready for negotiations and concessions," the diplomatic sources said in a readout of the meeting.

Rep. Brian Fitzpatrick, R-Penn., who chairs the House Ukraine caucus, rejected the idea of forced elections in Ukraine on social media.

Zelenskyy has said his country would never accept peace terms negotiated by the U.S. and Russia without Ukrainian involvement. Trump has vowed that Ukraine will be involved in the larger process. Zelenskyy cut short his trip in the Middle East following news of Tuesday's meeting. He was scheduled to arrive in Saudi Arabia on Wednesday, but he will instead return to Kyiv.

Trump envoy Steve Witkoff emphasized on Sunday that the ongoing meeting in Riyadh is more about "trust building" than getting into the details of an actual peace agreement.

Zelenskyy urged Trump not to trust Putin in a phone call last week.

"I said that [Putin] is a liar," Zelenskyy said of the call. "And he said, 'I think my feeling is that he's ready for these negotiations.' And I said to him, 'No, he's a liar. He doesn't want any peace.'" 

The Ukrainian leader nevertheless said he believes Putin is a "little bit scared" of Trump.

Also excluded from Tuesday's talks are any European representatives, a notable absence given the stern rebuke of European allies delivered by Vice President JD Vance at the Munich Security Conference last week.

Some European allies are taking the cue, with U.K. Prime Minister Kier Starmer announcing that he is willing to put British troops on the ground in Ukraine to ensure its security as part of a peace deal.

"I do not say that lightly," he wrote in the Daily Telegraph. "I feel very deeply the responsibility that comes with potentially putting British servicemen and women in harm's way."

"But any role in helping to guarantee Ukraine's security is helping to guarantee the security of our continent, and the security of this country," he added.

RUSSIAN PERSPECTIVE

Russia and US agree on Ukraine peace talks – Lavrov

Russia and the US have agreed to establish a framework for ending the Ukraine conflict in the near future, Russian Foreign Minister Sergey Lavrov has announced.

Top Russian and US diplomats met in Saudi Arabia on Tuesday to explore ways to restore diplomatic ties, lay the groundwork for a summit between Russian President Vladimir Putin and his US counterpart, Donald Trump, and advance efforts toward resolving the Ukraine conflict.

Lavrov led the Russian delegation, which also included Yury Ushakov, Putin’s top foreign policy aide. Kirill Dmitriev, the CEO of the Russian Direct Investment Fund (RDIF), also took part in the negotiation process. The American side was represented by US Secretary of State Marco Rubio, Trump’s national security adviser, Mike Waltz, and Steve Witkoff, Washington’s special envoy for the Middle East.

Neither Ukraine nor the EU participated in the meeting, with Kiev stating it would not recognize the outcome of the talks unless it was involved.

Speaking to reporters shortly after the meeting in Riyadh, Lavrov stated that as part of the agreement to initiate the Ukraine conflict settlement process, Russia will appoint its representative once it receives confirmation of Washington’s designated negotiator.

“I believe the discussions were highly productive,” Lavrov said, adding, “Not only did we listen, but we genuinely heard each other.”

He further stated that he had reason to believe the American side “now has a clearer understanding of Russia’s position,” as it had been “thoroughly detailed” using specific examples drawn from President Putin’s numerous statements.

Lavrov pointed out that the meeting in Riyadh was initiated by the Russian and US presidents, who had agreed that preparations for the next summit should be started. To achieve this, foreign ministers and national security advisers were tasked with meeting and determining what needed to be worked out before the two presidents “can negotiate specific dates and timelines for the summit.”

Moscow and Washington have agreed that “when national interests coincide, efforts must be united and implemented” in relevant areas through “mutually beneficial projects” in both geopolitical and economic spheres, according to Lavrov. However, when interests do not align, the sides should not provoke a conflict but rather work to resolve issues, he added.

Lavrov also touched on the issue of the US engagement with the EU concerning security guarantees and the potential deployment of a contingent force in Ukraine.

“We explained to our counterparts that President Putin has repeatedly emphasized that NATO expansion and the absorption of Ukraine into the military bloc pose a direct threat to Russia’s interests and sovereignty,” he stressed.

Moscow made it clear that it considers any NATO-linked military presence – whether under the EU flag or as part of national contingents – completely unacceptable, according to Lavrov.

The Russian foreign minister added that the sides “practically agreed that the issue of diplomatic missions must be resolved once and for all.” He noted that this includes addressing the sanctions imposed in recent years, the expulsion of diplomats, the seizure of diplomatic properties, and other obstacles that have complicated work.

“Our deputies will soon meet to discuss the removal of these artificial barriers and ensure the smooth functioning of embassies and consulates in both countries,” Lavrov stated.

Fox NewsRT

Ayo Adebanjo, 96, was a path through which Nigerian politics could be traced. The politics of the country was mainly about the ruling elites in military fatigue or civil dress ruling at the centre, and conscientious patriots opposing from the sidelines or working from the margins. Adebanjo belonged to the latter.

 At 14, in 1943, he had aligned with the radical Zikist Movement which wanted the British colonialists thrown out of the country, if necessary, by force. This was in contrast to the mainstream politicians who hoped for independence based on the benevolence of the colonialists.

The Zikists were allies of the National Council of Nigeria and the Cameroon, NCNC, led by Nnamdi Azikiwe. But when a more radical and ideologically conscious party, the Action Group, AG, led by Obafemi Awolowo emerged, Adebanjo joined it in 1951.

 The AG was anchored on a welfare ideology with free education and healthcare for all, rural transformation and equity. Adebanjo in contemporary partisan politics, came to embody these aspirations; he wore Afenifere principles like a cloth.

In the 1959 pre-independence general elections, the AG emerged as a pan-Nigeria party, winning 25 seats in the Northern Region, 14 in the Eastern Region, 33 in the Western Region and one in the Federal Territory of Lagos. In contrast, the Northern Peoples Congress, NPC, which had 134 seats, won its seats from the Northern Region. Yet, the propaganda out in the country was that the AG was a regional or sectarian party.

The AG proposed a coalition government with the NCNC in which Azikiwe would be Prime Minister and Awolowo, Deputy Prime Minister or Finance Minister, while the NPC would constitute the opposition party. It believed its welfare programmes would sprout under such a coalition.

It might have assumed that the NCNC would prefer a coalition in which it will be the senior partner. But the latter preferred a coalition with the NPC in which it will be the junior partner, and, rather than be the Prime Minister running the cabinet, Azikiwe would become the mainly ceremonial Governor General or President.

This meant that the AG and Adebanjo were in the opposition. Two years after independence, Awolowo and 26 other members of the AG were charged with treason. Adebanjo was some steps ahead of the law as he fled to Ghana.

Then the Balewa government was overthrown by the military in January 1966. After the second coup in July 1966, the AG leaders were freed and Awolowo became the Finance Minister.

In the Second Republic, the AG, now known as the Unity Party of Nigeria, UPN, lost the elections to the National Party of Nigeria, NPN, and Adebanjo and his fellow party members were back in opposition, taking on the ruling party.

The degenerate and bloody military regimes of Buhari, Babangida and Abacha, brought out the fighting spirit in many patriots, including Adebanjo.

After the annulment of the June 12, 1993 presidential election millions of Nigerians led by the Campaign for Democracy, CD, took to street protests.

In order to strengthen the capacity of the populace to take on the brutal Abacha junta, the CD went into alliance with various groups.

One of the most formidable alliances the CD entered was with the Afenifere, a socio-cultural group with which the AG had explained itself and its welfare policies to the old Western Region. Despite its seeming sectional origins, Afenifere is actually national in thought and action; spreading the nationalist and Pan Africanist ideals of its founding leader, Awolowo.

The CD with its leaders like Beko Ransome-Kuti, Frederick Fasehun and I, held a number of meetings with the then Afenifere leaders, including Adebanjo and former Kwara State Governor, Cornelus Adebayo. The virtually secret meetings were held at the 100, Oduduwa Crescent, GRA, Ikeja, Lagos residence of then Afenifere leader, Alfred Rewane.

It was at those meetings I got close to Adebanjo and learnt practical leadership from the veterans. But those were quite dangerous times. On Friday, October 6, 1995, three gunmen entered Pa Rewane’s house and shot him dead.

We relocated our now, more open meetings partly to Moshood Kashimawo Abiola’s house with Mrs Kudirat Abiola hosting. Those meetings were presided over by Anthony Enahoro.

But nine months later, Mrs Abiola was assassinated by the Abacha killer squad and the meetings shifted and became bigger, transforming into what became known as the National Democratic Coalition, NADECO.

The military regime simply became deadlier with assassinations and bomb blasts. People like Ransome-Kuti and Fasehun were imprisoned, and Enahoro, Bola Tinubu, Wole Soyinka and Dan Suleiman had to flee the country.

However, people like Adebanjo and then Afenifere leader, Abraham Adesanya, remained. Even after the military death squad opened fire on Adesanya’s car, they remained to see the back of the junta.

In the follow-up elections, Afenifere went into alliance to form the Alliance for Democracy, AD. The party had Tanko Yusuf as Chairman and Adebanjo as Deputy Chairman.

Adebanjo was the power house of the AD in the South-West. His leadership faced two main challenges in the run up to the gubernatorial elections of 1999. In Ondo State, the primaries were conducted three times, and thrice did Mrs Cecilia Mobolaji Osomo win. But Afenifere decided it could not have a candidate who had defied its directive to resign as Abacha’s Minister of Establishment. So, the ticket was given to Adebayo Adefarati. But the case in Lagos was tougher. While Afenifere was united in Ondo State, it was split in Lagos. Veteran leader, Ganiyu Dawodu, backed Funsho Williams who had served in the military regime. He was leading in the disputed primaries with Tinubu.

The Adebanjo leadership cancelled results from four disputed local government areas and that gave victory to Tinubu.

When the Afenifere chairmanship was open with Adesanya giving up the position, the choice was between Olanihun Ajayi and Adebanjo. But the latter pointed out that they were both from the same Ijebu axis as Adesanya. So, the leadership went to Reuben Fasoranti from the Ondo axis. When Fasoranti became too old to continue, he stepped down for Adebanjo as the new Afenifere Chairman.

However, as the 2023 presidential election approached, the Afenifere declared that the path of equity, fairness and inclusiveness in line with the Afenifere philosophy, was for the country’s presidency to go to Eastern Nigeria as the South-South, South-West and the North had produced the country’s Presidents since 1999. It, therefore, endorsed the Labour Party candidate, Peter Obi.

However, some politicians went to Fasoranti to endorse the candidacy of President Bola Tinubu. But that was not an issue for Adebanjo; he had done his duty. On February 14, 2025, Adebanjo took his eternal bow.

Abdo Riani

The Silk Road, spanning over 4,000 miles and connecting the East and West, was one of history’s most important trade routes. It wasn’t just a path for exchanging silk, spices, and goods but also a breeding ground for innovation and problem-solving.

Ancient traders faced challenges like risky journeys, financial instability, and cross-cultural communication, and they devised solutions that closely resemble practices used by modern startup founders. Here are three practices employed by Silk Road traders and how they relate to building and scaling innovative businesses today.

1. Resource-Sharing

One of the biggest challenges for Silk Road traders was the sheer danger of traveling across vast deserts, mountains, and ungoverned territories. Robbery by bandits and natural disasters posed constant threats. Operating individually would have been economically ruinous for most merchants because each trader, as a small business, didn’t have the resources needed to fund a whole journey.

To address these risks, traders pooled their resources and traveled in caravans. These large groups of merchants, animals, and laborers offered safety in numbers, as bandits were less likely to attack a well-defended caravan than a lone traveler.

Equally importantly, caravans also allowed merchants to share the costs of guides, translators, and security, making it a more cost-effective way to trade. This arrangement also allowed the traders to concentrate on their own area of expertise where they add the most value - buying and selling specific goods at a profit, rather than building expertise on all other (overhead) activities needed for a successful journey.

Similarly, an early-stage startup project is extremely unlikely to have all the resources needed to build a whole business from the ground up. This makes it a great idea to use shared pools of resources not only for cost-saving but to benefit from the expertise of specialists:

• Use a coworking space instead of renting (or buying) your own office
• Use freelancers and contractors for anything that’s not the core of your business
• Use open-source software or even no-code solutions to build on top of
• Participate in startup incubators and accelerator programs for mentorship, instead of e.g. paying consultants

2. Building Trust - Focus On Customer Relationships

For Silk Road traders, trust was the foundation of their success. They often dealt with people from different cultures, speaking different languages and practicing different customs. To succeed, traders invested in building long-term relationships through gestures of goodwill, cultural understanding, and personalized service. For example, Sogdian merchants were known for their linguistic skills and ability to adapt to diverse cultural norms, which helped them act as intermediaries in East-West trade.

This practice of relationship-building is very similar to how startups focus on customer-centric approaches today. Good relationships with all startup stakeholders could prove crucial for survival. For example, investors and partners can keep your project alive throughout the tough validation and efficiency phases. Being close to your suppliers can get you through liquidity crunches. If unhappy with the offering, your first customers could provide invaluable honest feedback, or become brand advocates and boost your growth if satisfied, etc.

3. Inventory Management

The Silk Road traders had to maximize profits while minimizing the weight and volume of goods transported. Merchants often relied on high-value, low-volume products like silk, which allowed them to generate substantial returns without overburdening their caravans. This focus on efficiency ensured profitability while managing logistical challenges, and the higher gross margins they generated allowed them to take on more of the necessary overhead costs.

Successful modern startups often do the same thing by prioritizing high-margin offerings first and foremost (by focusing on where the startup adds the most possible value) before chasing high-volume low-margin business models, where brute force (i.e. access to a lot of resources) is more important.

Moreover, to optimize resources physical product startups utilize lean inventory management and supply chain optimization. Startups can also adopt just-in-time (JIT) inventory practices, reducing waste and the need for storage early on when they cannot afford it.

Forbes

The crisis over the control of local government secretariats in Osun State, yesterday, worsened as eight persons, including a local government chairman, were reportedly killed and scores injured as elected local government officials on the platform of the All Progressives Congress, APC, resumed offices at the various council secretariats.

While the state government said the Peoples Democratic Party, PDP, lost five persons, the APC said three of its members were killed.

The PDP and APC have been laying claim to the control of the council areas with the APC claiming that the Appeal Court had reinstated the sacked elected council chairmen and councillors.

The Osun State government, however, countered that the election was nullified by a Federal High Court in Osogbo.

How crisis worsened

As early as 8 am, elected council officials mobilised to resume at their offices at Boripe, Ilesa-West, Obokun, Odo-Otin, Iwo, Ayedaade, Isokan, and Irewole LGAs among others.

However, in a move to stop the chairmen, thugs suspected to be loyal to the PDP in the affected areas stormed the offices and were shooting sporadically into the air.

In an attempt to resist them, another set of thugs suspected to be loyal to the APC countered the move, which resulted in casualties.

PDP thugs invaded the council secretariats — Osun APC

Addressing newsmen on behalf of the APC Chairman at the Ileri-Oluwa Campaign office in Osogbo, Jamiu Olawumi, said that the reinstated chairmen and councillors had successfully resumed offices in about 15 LGAs before suspected PDP thugs stormed the councils with guns.

As at 9:15 am, the council officials had successfully resumed offices in 15 council areas, including Ede-South, Ife-Central, Ife-North, Ife-East, Ilesa-East, Obokun, Odo-Otin, Osogbo, Boripe Irewole, Isokan, Ayedaade, Atakumosa-East LGAs.

Olawumi said: “But surprisingly, in line with the threat of Governor Ademola Adeleke, PDP thugs invaded the council secretariats and started shooting at our people. Remi Abass, chairman of Irewole was killed, a councillor was killed in Isokan, and one APC member at Ola-Oluwa LGA.

“We called on the governor to call his party members to order as we will not stop resuming at the secretariats in line with the court verdict.

“Even those that did not go to the secretariat were targeted for assassination. Remi Omowaye, Executive Director, Federal Housing Authority, escaped assassination by the whiskers from PDP thugs in Ilesa as his vehicle was shot at severally and his office attacked in the town.”

PDP lost 2 members in Ege, Igara — Ajeigbe

However, the Commissioner for Protocol and Government Affairs in the state, Soji Ajeigbe, claimed that two PDP members, Ege and Igara, were killed by gun-wielding thugs working for the APC.

Ajeigbe said: “Apart from those killed, six others were killed while they were attempting to take over the secretariat. We have deposited the bodies in the morgue while the injured are receiving treatment at the hospital.”

Adeleke orders security agents to take over LG secretariats

Reacting to the killings and invasion of council secretariats, Governor Adeleke, who took to his X handle (@AAdeleke_01), yesterday, directed security agencies to take charge of all local government secretariats just as he called for an end to the bloodshed.

Adeleke wrote: “Following reports of the failed illegal takeover bid of local government councils in Osun by the sacked APC Chairmen and councillors, I hereby direct all Osun residents including politicians across all political divides to stay away from the local government secretariats to protect public properties and avoid further bloodshed.

“This has become necessary, especially as the council secretariats are expected to be under lock and key, due to the withdrawal of service, announced by workers of the Nigerian Union of Local Government Employees, NULGE, across the state.

“I equally console families of victims of the APC illegal takeover bid and chaos unleashed across the state by the APC and their hired thugs. The Peoples Democratic Party, PDP, lost five members with several others wounded. Two of those members are from Iragbiji, Boripe local government. Another two were killed at Ola Oluwa Local government. Another one was lost at Ikire. We must stop further bloodshed.

“I have directed security agencies to take charge of all local government secretariats and I hereby assure residents of Osun of their safety and protection of lives and properties.”

Crisis under investigation — Police

Contacted, the Spokesperson of the Osun Police Command, Yemisi Opalola, said she would investigate the matter and get back to Vanguard.

NASS caucus to Tinubu, NSA: Restore order in Osun

Meanwhile, members of the Osun State Caucus in the National Assembly, yesterday, urged President Bola Tinubu to instruct the Inspector General of Police to restore law and order in the state.

They also called for the involvement of the National Security Adviser and Attorney-General of the Federation and Minister of Justice to end the crisis.

The lawmakers, comprising three Senators and nine House of Representatives members, while addressing journalists in Abuja, said the crisis stemmed from the sacked officials of the APC, who, aided by thugs and support of some security personnel, forcefully returned to office.

Speaking on behalf of the caucus, Bamidele Salam said: “The people of Osun woke up to a criminal takeover of the local government secretariats by these sacked officials, who forcefully broke into the premises, wreaking havoc on the people of the state.

“This was done with the support of some security personnel, in defiance of a Court of Appeal decision upholding their removal, highlighting that the violence has escalated in the state.

“We condemn these unfolding acts of state capture through violence, usurpation of constituted authority, abuse of federal power, and gross rascality by the APC in Osun.”

The caucus specifically accused the Minister of Marine and Blue Economy, Mr Gboyega Oyetola, of orchestrating the illegal actions in collaboration with local security heads.

“We are aware that these dastardly acts are being carried out under the directives of the Minister of Marine and Blue Economy, Gboyega Oyetola and some notable leaders of the All Progressives Congress, APC, in the State in active collaboration with the heads of Security Agencies in the State, namely; the Commissioner of Police, the Director of State Security Service, and the State Commandant of the Nigerian Security and Civil Defense Corps, NSCDC.

“This is an invitation to anarchy and it has broken law and order in the state, thereby causing chaos and mayhem which has threatened the relative peace being enjoyed by the good people of Osun State under the stewardship of the Peoples’ Governor, Sen. Ademola Nurudeen Jackson Adeleke.”

The group also raised concerns over the impact of the violence, citing reports of multiple injuries and deaths.

“At Isokan Local Government, it was reported that three PDP members were shot dead by APC thugs. At Ayedaade Local Government, APC thugs shot a member of the PDP to death, with several wounded.

“It baffles any right-thinking mind how the same party that is actively participating in upcoming elections would turn around to insist that sacked officials from over two years ago should forcefully take over the office.

“As representatives of the people, we stand by the Osun State Government on this matter in defence of democracy and the rule of law,” the caucus stated.

Sacked LG bosses, councillors can’t return to office — PDP

Also reacting to the crisis in Osun State, the national leadership of the PDP, yesterday, declared that the sacked Osun State Local Government Chairmen and Councillors cannot force their way back into office noting that a substantive judgment of the Appeal Court has since sealed their fate.

PDP’s National Publicity Secretary, Debo Ologunagba, in a statement, cautioned the affected local government political leaders to perish the thought of forcing themselves back into office as such will amount to a futile venture with dire consequences.

Ologunagba said: “The PDP also charges the All Progressives Congress, APC, to accept reality and end its resort to self-help, misrepresentations, vituperations, violence and killings with the aim to trigger crisis and destabilize the State, having realized that it has irredeemably lost.

“The PDP asserts that the fate of the ousted Local Government Chairmen and Councilors was sealed by the Judgment of the Court to Appeal which nullified the unconstitutional attempt by the former Governor Gboyega Oyetola to illegally plant them as Local Government officers in the guise of an election.

“Having been roundly rejected by the people of Osun State in the Saturday, July 16, 2022, governorship election, the then Governor Oyetola and the APC ought to have known that attempting to side-step the laws and manipulate the process to illegally foist APC members and apologists as Local Government Chairmen and Counselors was an exercise in futility which was bound to fail ultimately.

“The APC is the architect of its misfortune. It should have known that disregarding and refusing to comply with the provisions of the Constitution and the Osun State Local Government Election Laws concerning the requirement on notices, processes and procedures of conducting local government elections is destined to be fatal and irreparable.

“We counsel the Osun APC to stop playing to the gallery by trying to bring in the exulted office of the President of the Federal Republic of Nigeria into disrepute by hopelessly dropping the President’s name at public spaces in their desperate but pathetic and unrealizable attempt to garner undeserved sympathy.

“The APC should note that our nation operates a federal system of government with clearly entrenched devolution of powers among the federating units as well as the various sub-national tiers of government.

“It should therefore desist from the fruitless attempt to drag President Bola Tinubu and the Federal Government into the issue of local government election which, under the Constitution of the Federal Republic of Nigeria 1999 (as amended), is within the purview of the State and has no connection whatsoever with the Federal Government.”

“If the APC believes that it is truly popular in Osun State as it claims, it should rather get ready for election as already scheduled by the Osun State Independent Electoral Commission (OSSIEC) instead of holding onto an imaginary strand of straw and instigating violence and killings in the State.

“Our Party strongly condemns the violence and killing of some youths today by APC thugs and calls on the Inspector General of Police to hold APC leaders in Osun State responsible and bring them to book for this heinous crime.”

Vanguard

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported a significant reduction in oil theft across the country, with daily losses now at approximately 5,000 barrels per day (bpd). This improvement has contributed to a steady increase in oil production, which now stands at 1.7 million bpd.

NUPRC Chief Executive Gbenga Komolafe shared these developments in Abuja on Saturday, according to a statement released by Olaide Shonola, Head of Public Affairs and Corporate Communications at NUPRC.

"Through kinetic and non-kinetic interventions, oil theft has significantly reduced to 5,000 bpd, leading to a steady production increase to 1.7 million bpd," Komolafe stated.

Komolafe highlighted Nigeria's position in the global oil and gas sector, noting that the country holds Africa's second-largest oil reserves at an estimated 37.5 billion barrels, while maintaining the continent's largest gas reserves at 209 trillion cubic feet (TCF). Current oil production averages 1.75 million barrels daily, with gas production at 7 billion standard cubic feet per day (SCFD).

Acknowledging past challenges, Komolafe referenced the drastic decline in production to 1.1 million bpd in 2022 due to oil theft. The government has now launched the Project 1 MMBOPD initiative, aiming to increase production by an additional 1 million bpd by December 2026. This project focuses on collaboration between operators, service providers, financiers, and host communities.

The Nigeria Gas Flare Commercialisation Programme (NGFCP) remains central to the country's energy transition strategy, according to Komolafe. The program focuses on eliminating routine gas flaring, reducing methane emissions, and promoting carbon capture technologies, while the carbon credits earning framework seeks to monetize decarbonization efforts.

The positive developments come after the Nigerian National Petroleum Company Limited (NNPC Ltd) declared a state of emergency on crude oil production on July 2, 2024, with the goal of increasing production and growing reserves. The government has also approved $21 million for metering 187 oil flow stations throughout the Niger Delta region to enhance monitoring of crude oil production and distribution.​​​​​​​​​​​​​​​​

The Manufacturers Association of Nigeria (MAN) has issued a stark warning to the federal government, declaring that the manufacturing sector "is on its last breath" and cautioning that "the future of the country will continue to hang in balance unless the plights of manufacturers are adequately addressed with appropriate interventions."

In its Fourth Quarter of 2024 Manufacturers CEOs Confidence Index report, signed by MAN Director General Segun Ajayi-Kadir, the association emphasized that 2025 represents a critical period during which the government must take intentional action to boost domestic industrial production and promote Made-in-Nigeria products to alleviate foreign exchange demand pressures.

The report details numerous challenges currently facing manufacturing companies across Nigeria, including exorbitant electricity tariff hikes, volatile exchange rates, rising interest rates, and limited access to credit. These persistent issues have led manufacturers to downwardly revise their expectations for the first quarter of 2025, citing the prolonged harsh macroeconomic environment and predicted slowdown in business activity.

"In specific terms, the manufacturers' outlook for 2025 stands at the crossroads of optimism and reality checks," the report states. "2025 is a pivotal year and the outcome will be crucial for this most significant sector."

MAN has called on the government to pursue President's ambitious goals of reducing inflation to 15 percent and stabilizing the naira at ₦1,500/$ through clearly defined and easily assessable actions with appropriate timelines. The association also emphasized that government Ministries, Departments, and Agencies (MDAs) must lead by example in prioritizing Nigerian-made products.

To address these concerns, MAN has proposed a comprehensive 15-point action plan for the federal government, which includes:

1. Suspending the 15% hike in port charges and the 4% FOB levy pending wider consultation with the Organized Private Sector

2. Implementing the National Single Window (NSW) project to facilitate trade, reduce business costs, and boost Nigeria Customs Service revenue without further import duty increases

3. Pausing interest rate hikes

4. Increasing the capital base of the Bank of Industry to meet industrial credit demands

5. Honoring the unsettled $2.4 billion Forex forward contract to restore manufacturers' confidence in the market

The urgent tone of MAN's message underscores the critical state of Nigeria's manufacturing sector as it navigates multiple economic challenges in 2025.​​​​​​​​​​​​​​​​

Elon Musk and his crack team at the Department of Government Efficiency have been scouring federal data for signs of waste, fraud, and abuse.

They may have found something massive at the Social Security Administration.

Musk shared via X on Sunday that there are hundreds of thousands, if not millions, of Americans listed as alive in the Social Security databases who have probably been dead for quite a while.

The database included over 1.3 million people between the ages of 150 and 159, nearly 122,000 between the ages of 160 and 169, and over 6,000 between the ages of 170 and 179.

That does not include a few thousand more between 180 and 229 years old, meaning they were born well before the Civil War.

“According to the Social Security database, these are the numbers of people in each age bucket with the death field set to FALSE!” Musk told the public while sharing a screenshot of the data.

“Maybe Twilight is real and there are a lot of vampires collecting Social Security.”

He may not be far off.

What do Democrat leaders fear more about DOGE?

There was one person listed on the Social Security rolls between 240 and 249 years old, and another between 360 and 369 years old.

That means there is supposedly one American alive who saw the earliest days of the republic, and another who started his life squarely during the colonial era.

For the record, the oldest person to ever live in modern history was Jeanne Calment, who lived just over 122 years, according to the Guinness Book of World Records.

She was born in 1875 and died in 1997.

There are a handful of others who lived to such a ripe old age.

But according to the data uncovered by Musk, their longevity is not all that impressive, and the Guinness Book of World Records needs a serious update.

The records from Social Security indicated that there are actually more than 7.4 million Americans alive today between the ages of 130 and 149.

Musk did not reveal whether those supposed senior citizens are still receiving payouts, but he is not optimistic about what this finding says about the soundness of our bureaucracy.

“There are FAR more ‘eligible’ social security numbers than there are citizens in the USA,” Musk added. “This might be the biggest fraud in history.”

At best, the Social Security Administration has been asleep at the wheel, failing to conduct basic maintenance on its records.

At worst, the taxpayer is currently shelling out millions of payments to people claiming the identities of long-dead Americans, indeed reflecting one of the worst frauds ever recorded.

In any case, the latest revelation from Muskshows massive government incompetence and explains exactly why reforming and downsizing the federal beast is a serious necessity.

Western Journal