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BREAKING: VPs who complete president’s tenure eligible for single term, says new law Former President Goodluck Jonathan

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President Muhammadu Buhari on Friday signed a constitutional amendment that stops a vice president who completes the term of a president from contesting for the office of the President more than once.

The same is applicable to a deputy governor who completes the term of a state governor.

The Senior Special Assistant to the President on National Assembly Matters (Senate), Ita Enang, disclosed this to State House correspondents at the Presidential Villa, Abuja on Friday.

The term of a President or a governor can be aborted by virtue of death, resignation or removal, thereby paving the way for the Vice President or deputy governor to take over.

Enang explained that the effect of the new law, Act 16, is that having taken the oath of President or governor once, the affected person can only contest one more time and no more.

If the law had been in place, former President Goodluck Jonathan who completed the tenure of late President Umar Yar’Adua after his death would not have qualified to contest the 2015 presidential elections having contested and won in 2011.

Enang said the President also signed an amendment to the constitution that grants autonomy to state judiciary and state Houses of Assembly.

The presidential aide said the implication of the new law was that funds meant for state judiciary and state Houses of Assembly would now be going directly to them and not through state governors again.

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According to Enang, the President also signed an amendment that reduced the duration for determining pre-election matters in courts to ensure that such matters do not get into the time of the elections and do not linger thereafter.

He added that another amendment increased the time the Independent National Electoral Commission has to conduct by-election in case of vacancy from the present seven days to 21 days.

Enang said, “I just want to inform you that His Excellency President Muhammadu Buhari today (Friday) assented to the Constitution Fourth Alteration Bill which grants financial autonomy and independence to the Houses of Assembly of the respective states and to the Judiciary of the respective states.

“Therefore, upon this signature, the amounts standing to the credit of the judiciary are to now be paid directly to the judiciary of those states and no more through the governors and from the governors.

“And then the amounts standing to the credit of the Houses of Assembly of the respective states are now to be paid directly to the Houses of Assembly of that state for the benefit of the legislators and the management of the state Houses of Assembly of that state. This grants full autonomy now to the Houses of Assembly and judiciary of states.

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“Another Act which has come into force today is Constitution Amendment 21 which relates to the determination of pre-elections matters. It has reduced the date and time of determining pre-election matters to ensure that the pre-election matters in court do not get into the time of the elections and do not linger thereafter.

“The relevant section of the Constitution has also been amended by this Act, therefore amending the constitution.

“The other one is Bill 16 which is now an Act. The intent of that Act is to ensure that where a Vice President succeeds the President and where a deputy governor succeeds a governor, he can no more contest for that office more than one more time.

“The effect is that having taken the oath of President once, he can only contest one more time and no more. That is the intent of this amendment.

“The other amendment is Bill 9 now an Act which gives the Independent National Electoral Commission sufficient time to conduct by-election. It has increased the time from seven to 21 days and generally widen the latitude of the INEC to handle election matters upon vacancy.

“These four bills, added to the Not-Too-Young-To-Run Act, have now been assented to by the President and have now become laws.

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“The Constitution of Nigeria 1999 as amended is hereby further amended by the assent of the President to these bills today.”

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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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