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BREAKING: Former Speaker, N’abba dumps APC, gives reasons

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Former Speaker of the House of Representatives, Ghali N’abba, has dumped the All Progressives Congress (APC).

N’Abba announced his decision in a resignation letter released Thursday night.

The former Speaker hinged his reason on what he termed ‘”the cavalier manner in which both the Federal Government, States controlled by the APC and the APC itself are being run.”

His resignation letter reads.

“This is to notify you of my resolve to resign from the All Progressives Congress (APC), effective today 5th December 2018,” he wrote.

“My decision to resign from the party follows the cavalier manner in which both the Federal Government, States controlled by the APC and the APC itself are being run, as a result of which anybody who has eyes to see only sees doom and not prosperity for our dear country.”

He also noted that APC administration is characterised by “lack of consultation, crass incompetence, lack of vision, arrogance, and dangerous fixation.”

“It is a measure of the incompetence of the APC government that after all is said and done, it has lost a Senate President and a Speaker of the House Of Representatives and many others for reasons that border on meanness, lack of simple management skills and capacities and a great measure of arrogance.”

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“It is also a measure of the incompetence of the party that there is almost no state in the Federation where there is no conflict .”

“While it is generally accepted that no human organisation can be rancour-free, it is disheartening that these conflicts in the party are inflicted by its leaders, some of whom can be said to be poorer in human qualities than the poorest of men.”

He also alleged that some state governors had hijacked the party, doing whatever they liked.

“In their endeavour to perpetuate themselves on the system, they not only snatched away the political rights of the people but also blocked all avenues with which and within which they would be held to account.”

“Because under these conditions no person can be politically mobile except he becomes a sycophant, it becomes necessary for me to speak up.”

“This I did many times, unfortunately only to be met with complicit silence.”

He also attacked President Muhammadu Buhari, describing him as a “president under whose watch all these negative traits are recurring.”

“He instead prefers to give the country a lethargic and insular leadership informed by grudges, hatred and a general lack of understanding of what democracy and compassion are all about.

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“All these masqueraded as war on corruption.”

Although, the former Speaker did not state the party he is defecting to, he is expected to join the main opposition party, PDP.

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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