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OSUN 2018: APC IN THE HANDS OF ARCHENEMY*

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Northern APC

 

  • Highlighting some of the factors that is likely to cause hullabaloo to All Progressives Congress APC in Osun State.

 

Osun State recent electoral misfortune in the western senatorial district can not be easily forgotten,not with the margins at which the opposition triumphed in the previous election that made the dancing senator to emerged victoriously.

 

Divergent views and opinions were expressed,what is however cleared and monumental is the fact that APC has lost Nine against one, which was  a collosal loss if not disgraceful to say the objective truth.

 

We can not deemphasis various factors but rather term it as a bye product to the reproduction of  what made APC lost two federal constituencies in the last national election namely the Oriade Obokun and ife federal constituency.

 

One of the greatest factors affecting All Progressives Congress APC includes ;

 

*Hidden Ambitions*

Hidden ambition and the idea of fielding those gladiators to work for same elective position as campaign coordinators or mobilizer chairman for the same election they lost its ticket without consulting the winner or the candidates involved ,those silent pretenders sometimes become controller of funds ,men and women meant to work for the party victory,these are people who have unsettled score and malice with the same person aspiring election.

 

Apparently, The case is like asking the same person who seek obaship to be the one to crown the same person who emerged. This among others is said to be the reasons why ALL PROGRESSIVES CONGRESS APC in Osun State normally record downthrow in many areas.

 

*Power Tussle*

The same scenario is re-emerging in embryonic way, where ,One time Commissioner who once indicated his interest for the house of Representatives seat of Oriade Obokun is now said to be overhauling his structure ahead of others and without even consulting the sitting Governor of Osun State.

 

He is believed to be one of the richest and well blessed commissioner under the first term of Ogbeni Rauf Aregbesola.

 

Same also is the feelings from ife federal constituency on also a one time Commissioner in Osun State who is equally eyeing the federal house of Representatives seat.

 

Meanwhile, It is on record that these two grand styling gladiators had served under the government of Ogbeni Rauf Aregbesola as commissioners. The reasons for them not to be returned as commissioner was connected to top security report at government disposal and their roles as campaign chairmen and their superogatory ambitions.

 

These two personalities has been eyeing elective posts to satisfy their inner conscience, but the whipped of the Governor as cabinet members made them dropped their ambition and both  ironically became the campaign chairmen of their respective domain.

 

There goes the errors, It was very possible for them not to worked with their full hearts because election funds,materials and men were at their disposals, discretions and candidates were left at their mercies.

 

*Issue of Aggrieved Members*

This is contained in a press statement Diekola made available to journalists in Osogbo on Monday, saying members of the party are divided and that the party cannot win the governorship election of 2018.

 

“There is nothing romantic about crisis within a political family, but we can’t afford to condone a lie that has a tendency to drag us backwards in our quest to genuinely reposition the party ahead of 2018.”

 

“As a concerned party member, I have studied the press statement, I wish, I could maintain silence after reading the poorly calibrated speech. The urge to respond to some of the political notes extracted from the statement, is irresistible.”

 

“With much reluctance to believe that Barrister Kunle Oyatomi genuinely meant some of the notes averred in the party press statement. Further, it’s very doubtful that Barrister Kunle Oyatomi had all round consultation with party bigwigs before he rushed to the press and tagged the ‘brains’ behind the electoral success of Osun APC in the past, and before things fell apart ‘dissidents.

 

“The diction and tone of the press release worries me, it doesn’t reflect that important lessons had been learnt from the concluded Osun West Senatorial bye-election.”

 

“However, I’m politically tempted to sympathise with Barrister Kunle Oyatomi, as APC spokesman; he’s understandably handicapped and under intense political pressure to promote a facade of unity within Osun APC.”

 

“Recall, the same Barrister Kunle Oyatomi issued a press statement before the concluded Osun West Senatorial bye election where he dismissed and downplayed the existence of the aggrieved bloc within Osun APC. The outcome of the bye election pointedly punctured his lie and dismissed him as a naive party member constrained by the party position.”

 

“While I cautiously agree with Barrister Kunle Oyatomi that unlike Osun PDP, we have one chairman in the person of prince Gboyega Famodun and our Secretariat headquarters is along Gbongan- Ibadan Road in the heart of Osogbo, unfortunately, Oyatomi forgot albeit deliberately, to tell us the number of times the Famodun led APC state executives had met, when last it held meeting at the state party Secretariat and how many of its members in the state executives are currently aggrieved and uncomfortable with the leadership of prince Adegboyega Famodun?”

 

“The time has come to say the truth. Whist it might be inconvenient for the political cotton weights, and a handful of politicians without a solid political base, masquerading as friends and loyalists of governor Rauf Aregbesola. I believe we need to speak the truth. And the truth is this: Famodun’s leadership is the biggest albatross on the neck of Osun APC.”

 

“The failure of Osun APC state leadership became manifest when we lost Osun West bye election to the Peoples Democratic Party. If the leadership of the party in the state had guided the selection process of the party without public display of bias against one of the aspirants, may be, the result could have been much different.

 

“How would Barrister Oyatomi convince party members and political watchers that party leadership is in charge of a ruling party where a cabinet member gleefully appointed his brother in-law as SSA legal without a murmur from the party leadership.”

 

“Quite to the contrary, we are divided in Osun APC, but unlike PDP; we have one chairman whose politics and leadership style have divided the party into two major blocs.”

 

“With the tone and diction of the press statement released by Barrister Kunle Oyatomi, dismissing the ‘home based politicians’ in Osun APC as ‘dissidents’, there is nothing suggesting that the ‘hawks’ in Osun APC are comfortable with the reconciliation process initiated by the National Secretariat of our party.

 

“Notwithstanding this temporary setbacks, we, the home based politicians in Osun APC have absolute confidence in the national leadership of our party and strongly in support of its political efforts to reposition the party in the state ahead of 2018 governorship election,” the statement reads.

 

Now,the game has started again, the coast is becoming clearer and opinions of today is that their ambitions remained alive and seriously manifesting day by day.

 

This could not have just started within a short period. Let the judges  therefore learn to excuse themselves from this new game of governorship for history not to repeat itself again and again.

 

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Wema Bank Announces Grand Finale of Hackaholics 5.0: Set to Reward Winners With ₦75 Million Worth of Prizes

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*Wema Bank Announces Grand Finale of Hackaholics 5.0: Set to Reward Winners With ₦75 Million Worth of Prizes

 

 

Wema Bank, Nigeria’s foremost innovative financial institution and pioneer of Africa’s first fully digital bank, ALAT, has announced the grand finale of the 5th edition of its flagship youth and startup-focused tech competition, Hackaholics.

Launched in 2019, Wema Hackaholics is a groundbreaking initiative designed to harness the creativity and entrepreneurial spirit of Nigeria’s youth, providing them with a platform to turn their tech-driven ideas into reality. The highly anticipated Hackaholics 5.0 grand finale will take place on November 27th, 2024, under the theme, “Meta Idea: Capitalizing Africa’s Growth Through Innovation.” This year’s theme aims to showcase how tech-driven solutions can fuel Africa’s development by tapping into the continent’s growth potential through innovation and digital transformation.

The grand finale will bring together the brightest innovators from universities and tech communities across the country. These innovators will pitch their Digi-Tech solutions designed to solve real-world problems and contribute to Africa’s economic and social progress. The event promises to be the culmination of months of intensive competition, collaboration, and mentorship, providing a platform for youth-led tech ideas to reach new heights.

Announcing the date of the grand finale, Moruf Oseni, MD/CEO of Wema Bank, highlighted the bank’s vision for Hackaholics. “Hackaholics is more than a competition; it is a movement to equip Nigeria’s youth with the skills, networks, and resources needed to drive Africa’s digital transformation. The Meta Idea theme for this year is a call to action for young innovators to think beyond the present and design solutions that will capitalize on Africa’s growth. We are excited to see how our participants envision and build the Africa of tomorrow.”

Speaking on the prizes, the MD/CEO said “At the grand finale, participants will compete for exciting cash prizes, grants, and access to Wema Bank’s extensive network of investors, mentors, and industry experts. The total worth of prizes for this year is ₦75,000,000. The winning team will receive ₦30,000,000, the first runner-up will receive ₦20,000,000 and the second runner-up will receive ₦15,000,000 worth of prizes. Additionally, we will be awarding a special grant of ₦10,000,000 worth of prizes to the female-led team to encourage gender diversity in tech innovation.” He concluded.

Wema Bank’s Hackaholics is a testament to the Bank’s commitment to shaping Africa’s future through innovation and entrepreneurship. Hackaholics 5.0 began with a nationwide call for entries earlier in the year and has engaged over 10,000 aspiring tech innovators and entrepreneurs across Nigeria. With 2,297 applications across 8 physical pitch centers and 1 virtual pitch center, 34 innovators across all locations are set to pitch their ideas at the pre-pitch stage ahead of the grand finale scheduled to hold in Lagos.

Through Hackaholics, Wema Bank has provided a platform for youth to channel their creativity and entrepreneurial spirit into actionable tech solutions that address Africa’s most pressing challenges. Over the years, Hackaholics has grown into one of the largest and most influential tech competitions in Nigeria, impacting thousands of young minds.

The competition not only offers winners cash prizes and grants, but also access to mentorship, industry networks, and resources to help scale their innovations globally. This initiative is a key part of Wema Bank’s broader strategy to harness technology as a driver of socio-economic growth in Africa.
Interested individuals can register to attend the grand finale via https://hackaholics.wemabank.com/grandfinale

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ATMs empty as banks ration withdrawals

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ATMs empty as banks ration withdrawals

ATMs empty as banks ration withdrawals

 

The Automated Teller Machines of Deposit Money Banks have consistently remained empty in recent months as banks grapple with a sustained low cash supply.

It was also gathered on Wednesday that some DMBs, particularly in the Federal Capital Territory, have begun another round of cash rationing, restricting maximum over-the-counter withdrawals to a daily limit between N5,000 and N20,000.

While banks struggle to get cash, Point-of-Sales operators have been fulfilling the cash needs of customers.

Speaking at the Facts Behind the Rights Issue Presentation of FBN Holdings at the Nigerian Exchange Limited recently, the Executive Director/Chief Financial Officer of First Bank, Patrick Iyamabo, said that the matter was an industry-wide one and not peculiar to a specific bank.

He said, “It is an industry problem. Most customers after exhausting the options available in other banks, tend to settle at FirstBank to address their cash needs. The challenge differs by location but we know it is a challenge that the regulator is looking into to address. But as we speak of physical cash, we must appreciate that the direction of the industry is to go digital.

“A lot of our customers do most of their transactions digitally, and you heard the GMD speak to this, very often people don’t want to transact in cash. In terms of this new order, your bank, FirstBank is very well positioned so if you look at the statistics and I’m speaking to independent statistics, just pick up your NIBSS report, the bank with the most stable platform meaning availability to always transact digitally is FirstBank. So, all our customers have the benefits of having their cash in First Bank and having access to this cash anytime anywhere and as necessary. It’s a huge advantage.”

Speaking anonymously with The PUNCH, a banker at a tier-1 bank put the blame on the Central Bank of Nigeria.

“It is what CBN has given us that we are using. We are confined within the limits of what is available to us. Also, because we are a big operation, we have to deal with many other businesses.

“Have you also noticed that there is a boom in the PoS business? Those people don’t take their money to the banks. The money comes out of the banks and it stays within their circle. They warehouse their funds, unlike you and I who would withdraw money and spend it which will eventually find itself back into the formal banking system. It is not the same with them. They warehouse their funds and distribute it among themselves.”

According to data from the CBN, currency outside the banks hit N4.02tn in September from N3.86tn in August. This brings it closer to the value of currency in circulation which stood at N4.31tn in September.

Meanwhile, some PoS operators on Lagos Island have increased their charges from N200 for cash of N10,000 to N300.

This was observed at both the CMS bus stop and at Obalende. However, off Lagos Island, the rates had remained at N200 for cash withdrawal of N10,000.

It was further gathered that banks have begun cash rationing, restricting maximum over-the-counter withdrawals to a daily limit between N5,000 and N20,000.

Findings by The PUNCH showed that the development is gradually leading to cash shortage, as many ATMs were non-functional, leaving customers with no choice but to seek alternative means of withdrawing cash.

As a result, many people have turned to Point-of-Sale operators, who have become the primary channel for cash withdrawals, albeit often at higher transaction fees.

Major commercial banks visited by one of our correspondents on Wednesday claimed not to have sufficient cash allocation hence the ration withdrawals to serve more customers.

The banks visited include Guaranty Trust Bank, Zenith Bank along Airport Road, and EcoBank at Jabi in Abuja.

A bank customer at EcoBank, who spoke without mentioning her name, said she was only allowed to withdraw N5,000 from N20,000 previously allowed.

“I was just informed that I can only withdraw N5,000 from my account. Can you imagine? The amount will can’t even take me home.”

Our correspondent received the same answer when he attempted to obtain cash.

At GTBank and Zenith Bank along the airport road, customers were permitted a maximum withdrawal of N20,000 from N100,000 previously disbursed as a daily limit.

 

A customer, Mr Faith, who visited the bank expressed shock about the new limit. He said the banks didn’t give any cogent reason for reducing the withdrawal limit.

“I just visited these banks, and I was informed that I can only withdraw N20,000 from N100,000, which was the previous limit. They didn’t even give any reason for reducing, now I have to start looking for cash elsewhere. This country is just so annoying,” He vented.

Cash scarcity became a recurring and widespread issue across Nigeria after the Central Bank of Nigeria introduced a controversial policy in January 2023, which significantly reduced the daily and weekly cash withdrawal limits to N100,000 daily, N500,000 weekly for individuals, and N5m for business entities.

This decision, aimed at encouraging a cashless economy, led to long queues at ATMs, increased difficulty in accessing physical cash, and a general disruption of daily financial transactions for millions of Nigerians.

The policy’s impact was felt particularly by those in rural areas and lower-income groups, who rely heavily on cash for their day-to-day needs, exacerbating economic hardships across the country.

Last week, data from the CBN showed that currency in circulation climbed 56.1 per cent year-on-year to reach N4.31tn, up from N2.76tn in September 2023, reflecting an increase of N1.55tn.

This is just as currency outside banks surged by 66.2 per cent in September 2024, reaching N4.02tn compared to N2.42tn in September 2023, a notable rise of N1.60tn in just one year.

This indicates that the volume of currency retained outside the banking sector outpaced the total released for circulation within the past year.

Compared to August 2024, currency in circulation rose by 4.0 per cent month-on-month, adding N166.2bn from the previous figure of N4.14tn.

The CIC is the amount of cash–in the form of paper notes or coins–within a country that is physically used to conduct transactions between consumers and businesses. It represents the money that has been issued by the country’s monetary authority, minus cash that has been removed from the system.

Earlier in September, the CBN announced plans to sanction banks that fail to dispense cash through their automated teller machines, as part of efforts to improve cash availability in circulation.

The CBN also revealed plans to release an additional N1.4tn into circulation over the next three months to ease cash flow within the banking system.

This strategy aims to ensure that ATMs and bank branches have sufficient cash, addressing ongoing challenges faced by customers over cash shortages.

Efforts to get a reaction from the apex bank on the new situation proved abortive as the acting Director, Corporate Communications, Sidi Ali Hakama, did not respond to enquiries sent to her phone number.

 

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NNPCL Makes New Leadership Appointments

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NNPCL Makes New Leadership Appointments

NNPCL Makes New Leadership Appointments

 

The Board of Directors of Nigerian National Petroleum Company Limited (NNPCL) has just made fresh leadership appointments.

A communication by Olufemi Soneye, Chief Corporate Communications Officer of the nation’s oil company, announcing the development reads…

The Board of Directors of NNPC Limited is pleased to announce a series of strategic leadership appointments. These changes
reflect our continued dedication to enhancing corporate governance, improving operational efficiency, and ensuring long-term success in Nigeria’s energy sector.

The following key appointments have been made:
1. Mr. Adedapo A. Segun has been appointed as the Chief Financial Officer (CFO). Mr. Segun previously served as the Executive Vice President, Downstream, where he made significant contributions to the company’s downstream operations.
2. Mr. Isiyaku Abdullahi has been named Executive Vice President (EVP), Downstream.
3. Mr. Udobong Ntia has been appointed Executive Vice President (EVP), Upstream.

These appointments align with NNPC Limited’s commitment to building a unified and competent leadership team to drive operational excellence and support the organization’s strategic objectives.

The Board and Management also extend their deepest appreciation to Mr. Umar Ajiya and Mrs. Oritsemeyiwa A. Eyesan for their outstanding dedication and service to NNPC Limited.

NNPC Limited remains committed to achieving operational excellence, enhancing global competitiveness, and ensuring financial sustainability, while prioritizing the interests of the Nigerian public in the petroleum industry.

Olufemi Soneye
Chief Corporate Communications Officer
NNPC Limited
November 13, 2024S

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