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‘We don’t consider IPOB as a terrorist Organisation’ – US Government

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The United States Government has said it does not consider the Indigenous People of Biafra a terrorist organisation.

Last week, the Federal High Court in Abuja gave a judicial backing the executive order of President Muhammadu Buhari, outlawing the group and its activities in the country.

The court granted the order to proscribe the group on Wednesday.

It declared that the activities of the group constituted acts of terrorism.

The Federal Government also accused France and the United Kingdom of aiding IPOB activities.

The spokesman for the American Embassy in Nigeria, Russell Brooks, told SUNDAY PUNCH on Friday that the US government does not view IPOB as a terrorist group.

He said this in response to our correspondent’s email which asked if the United States sees IPOB as a terrorist organisation.

Brooks stated further that the US was committed to Nigeria’s unity and would support a peaceful resolution of any crisis in the country.

He said, “The United States Government is strongly committed to Nigeria’s unity.  Important political and economic issues affecting the Nigerian people, such as the allocation of resources, are worthwhile topics for respectful debate in a democracy.

“Within the context of unity, we encourage all Nigerians to support a de-escalation of tensions and peaceful resolution of grievances.  The Indigenous People of Biafra is not a terrorist organisation under US law.”

The US embassy, however, declined to comment on whether the Federal Government had asked it to treat IPOB as a terrorist organisation and to block money sent to IPOB from the US.

Brooks also did not state the US’ position on the agitation for a Biafran state.

Speaking after the court judgment last week, the Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, said the Federal Government would proceed to gazette the order proscribing the group.

IPOB claims ownership of Radio Biafra

Meanwhile, IPOB in a statement on Saturday said that the Radio Biafra which is said to be based outside the country neither belonged to MASSOB nor its leader, Chief Ralph Uwazuruike.

IPOB, in a statement made available to one of our correspondents in Port Harcourt, Rivers State, explained that though MASSOB assisted in funding the radio station, the arrangement only lasted from April to July 2009.

The statement, signed by the Deputy Leader of IPOB, who is also the Deputy Director of Radio Biafra, Uche Mefor, noted that the station later went off-air and eventually shut down in December 2009.

It insisted that MASSOB, which has since transformed into Biafra Independence Movement, had nothing to do with Radio Biafra.

The statement added, “The entire humanity is hereby notified that MASSOB is not the owner of Radio Biafra. Uwazuruike is not the owner of Radio Biafra.

“Radio Biafra first operated as ‘Broadcasting Corporation of Biafra’ in the 1960s in the face of genocidal war of extermination propagated by the northern Nigerian military dictators who spearheaded their jihadism against the Biafrans.”

Also, MASSOB on Saturday called on the Federal Government to immediately release its members who were labelled supporters of IPOB, arrested and detained by security agents.

MASSOB said eight of its members were arrested by security agents on September 13, 2017, while they were on their way to Onitsha, Anambra State, to celebrate the group’s 18th anniversary.

Its National Director of Information, Mr. Sunday Okereafor, told SUNDAY PUNCH that security agencies should have known the difference between IPOB members and MASSOB followers.

Okereafor alleged that the MASSOB members were detained in Afara Prison in Umuahia, the Abia State capital.

He added that his group had since its existence embraced non-violence as its method of agitation and wondered why police and soldiers would contemplate arresting and detaining them.

He listed the names of five of the eight arrested MASSOB members as Igwe Ndukwe, Onyebuchi Nmeregini, I. Ugonna, ThankGod Udeh and Ugwu Emeka.

He said, “We are calling on the Attorney General of the Federation and the Attorney General of Abia State to release them. They should leave MASSOB alone because MASSOB is not violent. Those arrested are not IPOB members. They are MASSOB members.’’

Army arrests 34 hoodlums, recovers 12 guns in S’East

The Nigerian Army said on Saturday that 34 suspected cult members, kidnappers and hoodlums had been arrested in the ongoing Operation Python Dance II during some raids carried out by troops.

The army noted that seven locally made pistols and five Dane guns were also recovered from the suspects.

SUNDAY PUNCH learnt that while 17 suspects were arrested in Obinze community in Imo State, seven were arrested in the Ukukwa North Local Government Area of Anambra State.

Also, 10 suspected cult members were arrested during two operations on Awara and Assa communities in the Ohaji-Egbema LGA of Imo State.

The army added that another group of three kidnap suspects – identified as Arinze Ugiri, 39, Okezie Nwobolo, 30, and Michael Sunday, 24 – were arrested from a hideout in Abia State.

The suspects were reportedly handed over to the police after the initial questioning.

The Deputy Director, Army Public Relations, and 82 Division spokesman, Colonel Sagir Musa, who confirmed the arrests in a release, said the “outlawed IPOB members and their sympathisers” were also checkmated from extorting money from traders and motorists in Aba, Abia State.

 

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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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