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Rivers Assembly Threatens To Impeach Fubara

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The Rivers State House of Assembly, on Saturday, accused the state Governor, Siminalayi Fubara, of dishonesty.

The lawmakers threatened to resume impeachment proceedings against him if he continues to breach the constitution.

The Speaker of the House, Martin Amaewhule, made this known during a press briefing in Port Harcourt, the state capital.

Amaewhule, who was accompanied by 26 members of the Assembly, read out a 10-point briefing in which they slammed the Peoples Democratic Party (PDP) leaders who pledged their support to President Bola Tinubu and Governor Fubara.

They accused the governor of refusing to hold up to his end of the Presidential Peace Accord which he wilfully signed without coercion.

Furthermore, they explained that they withdrew their impeachment notice against Governor Fubara out of respect for President Tinubu and a hope that the governor will have a change of heart.

The lawmakers, however, threatened to resume the impeachment proceedings should Governor Fubara continue what they referred to as constant constitutional breaches.

The statement reads, “We begin by announcing to you that sponsored attacks on the House has failed woefully. Enemies of the people and those who cannot withstand the principles of the rule of law as well as checks and balances in our nascent democracy, in their frustration, started with the burning and later demolition of the Hallowed Chamber.

“Their plan is to eliminate the legislature that is pushing for the independence granted her by the Constitution since they cannot exercise undue control over her. We survived these attacks! Their new strategy is to use another arm of government, lobbyists, attack dogs and the mainstream and social media to bring the House to disrepute and consummate their agenda. In this regard, various individuals, groups, media mercenaries have been recruited to actualize their objectives.

“The latest of the new groups recruited against the 10th Assembly is the “Former Rivers State PDP Presidential Campaign Council”.

“In a press conference on the 26th of March 2024 signed by Dr. Abiye Sekibo, this group inferred that the House is an illegal and unconstitutional Assembly.

“Others in this group are the likes of Rt. Hon. Austin Opara, Senator Lee Maeba and Prince Uche Secondus. Hon. Tamunosisi Gogo Jaja, Sir Celestine Omehia amongst others are among these desperate politicians who left their houses and gathered under a canopy with H.E. Atiku Abubakar and H.E. Ifeanyi Okowa’s pictures on a banner behind them professing their new support for Mr. President and the Rivers State Governor.

“On the other hand, they derided the 10th Assembly who they are unhappy with for joining the All Progressives Congress (APC) which incidentally is the President’s Political Party.

“Worse still, they lied against and attacked the FCT Minister who worked tirelessly for the victory of the President and the Governor in Rivers State.

“In other words, they are against those who defeated them and put them to shame by ensuring the victory of the President and Governor in the State, but they now “subscribe” to the President and Governor. What a weak strategy from a group who think they are smart!

“The good people of Rivers State know who they truly are. Our constituents will not forget in a hurry how they fought against the Candidature of the current Governor and Mr. President during the elections.

“We are not surprised that they are no more saying all the unprintable things against the President and the Governor because this is who they are.

“They now want to advise the President and use unprintable words against the former Governor of Rivers State- His Excellency, Ezenwo Nyesom Wike CON. GSSRS. Life Bencher who God used to unite and transform Rivers State to enviable heights. Their new game plan is to blackmail Mr. President with “oil production and OPEC Quota”. This is the end game for them. What a shame!

“They said in their statement that they now support the Renewed Hope Agenda and we are not against it. However, can they be trusted going by their past actions? Is it not a ploy to deceive the President, gain rewards and milestones as usual and later fight back after discrediting their old benefactor- the FCT Minister.

“Time will tell but we must keep in mind that they vowed “never to serve master and later boy” and campaigned that the President was unqualified, not healthy enough and unfit for the job. We were inundated by the sad commentaries and speeches of their spokesperson in the media against the President, Governor, and those of us who stood by the President and Governor.

“These new arrivals have just landed like hawks. They now want to grab what they spat on but need to be careful of their rantings and utterances against the institution of the legislature and the FCT- Minister as they can derail the existing peace in the State.

“The FCT- Minister is doing fabulously well in Abuja and should be commended. Rather than looking for advise for Mr. President who we believe knows them very well, should they not be calling on the Governor to learn to abide by the laws of Rivers State and the Constitution of the Federal Republic of Nigeria? Should these new self-acclaimed advisers also not be advising the Governor to do the needful so that there can be a smooth transition from the current democratically elected Councils in the State to the next democratically elected Councils and avoid the challenges of attempting the opposite. What about advising the Governor to heed to the Peace Agreement he begged for, willingly signed, and has chosen not to abide by some of the terms?

“It is worthy of note that the notice of impeachment of the Governor was quickly withdrawn by members of the House in fulfilment of the terms of the agreement and out of immense respect for the person and office of the President of the Federal Republic and believing that there would be a u-turn in terms of unlawful actions of the Governor.

“The reverse is now the case as we see from day to day the activities of the State Governor been conducted outside the laws of Rivers State and the Constitution. To this day, Rivers State remains the only State without an Appropriation Law and the Governor recklessly abandons laws of the State.

“These new hawks in the scene and all those who are quick to refer to the Governor as “Mr. innocent” will not go and advise him. They prefer to hold talk shows, organize rallies, hold press conferences, and announce that the House commenced impeachment proceedings against the Governor for no just cause but fall to ask the Governor if he has not been informed of the particulars of gross misconduct levelled against him or at least read them when they were filed in Court in response to his petition.

“They must not forget that the Rivers State House of Assembly has the mandate of the people and that we swore an oath of allegiance to the Constitution to do the needful including the Impeachment of the Governor as a last resort. So, if it becomes a last resort, in accordance with the law, we will not hesitate to do so because no individual is bigger than Rivers State, including the Governor.

“We assure the good people of Rivers State that we remain undeterred in our service to our father land and no number of threats including those of violence against us just like they attacked the Speaker’s residence will make us abandon our Constitutional mandate to make laws for the good governance of our dear State.

“Efforts to utilize misguided individuals and attack dogs to spew lies against the House or misinform the populace with the intention of bringing the House to disrepute has only succeeded in strengthening our resolve to represent our people even better by focusing on our job and ignoring their distractions. To this end, the 10th Rivers State House of Assembly will leave no stone unturned in our resolve to make a positive difference in legislation, oversight functions and effective representation.

“Several Bills that are in the interest of the State have succeeded so far and resolutions passed with the objective of making things better. As we push to meet or surpass the yearnings and aspirations of our constituents, we are focused on our avowed goal of legislative oversight for the betterment of the good people of Rivers State. The Peace, progress and development of Rivers State is our watchword and remains so!

“The 10th Assembly respectfully calls on Mr. President to ignore these hawks that have just landed and their failed attempt to disparage the very performing FCT-Minister and the Rivers State House of Assembly. In due time, their true intentions would become clearer. Nigerians should remember this.

“We remain very prayerful and ever supportive of the Renewed Hope Agenda of Mr President’s government. We toiled day and night while these hawks called us names as we canvassed for votes for Mr. president from unit to unit, ward to ward and LGA to LGA. Today, we have happily joined our progressive party with the intention of supporting Mr. President and further protecting what we worked for- His mandate. No amount of blackmail would derail the resolve of this 10th Assembly to support Mr. President, his government and especially the son of Rivers State that is making us proud as the FCT-Minister- His Excellency, Ezenwo Nyesom Wike CON. GSSRS. Life Bencher. We also call on Nigerians to give Mr President’s efforts at economic recovery and improved life all the support that it deserves.

“Finally, we assure the good people of Rivers State of our commitment to stand up for them and urge them to remain prayerful against tyranny and dictatorship in the State because we believe that as agents of positive change, things can be better in the State if the rule of law prevails and there is mutual respect for and from all arms of government and institutions.”

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Daniel Amokachi appointment is a moral booster to the team – Lobi Star Defender Nnamdi Frank

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Nnamdi Frank who plays for NPFL side Lobi Star football club said he is happy that the management put the right peg in the right hole in the appointment of Daniel Amokachi as the team coach.

The defender claims that the atmosphere in the team currently is in top gear to work with former Super Eagles ex players to reveal the team and return to winning ways.

Frank further said he is ready to give all his best to support the coach and team to get the Continental tickets this 2024/2025 NPFL season.

The team is currently preparing for their next away game against Niger tornadoes in Minna Township stadium on Sunday.

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Deployed PoS terminals across Nigeria hit 3.04m July 2024

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BY SAM OTUONYE 
The Nigeria Inter-Bank Settlement System (NIBSS) has reported in its latest electronic payment data that the number of Point of Sales (PoS) machines deployed by merchants and individuals across Nigeria rose to 3.04 million in July this year.
This represents a 32% increase year on year when compared with the number of deployed terminals in the same period last year, which was 2.3 million.
The July 2024 figure indicated that a total of 744, 533 new PoS terminals were deployed between August 2023 and July 2024.
However, the figure for deployed PoS is still lower than the total registered terminals. According to the NIBSS data, a total of 4.06 million PoS machines had been registered across the country as of July 2024, which shows that a total of 1.02 million terminals are either yet to be deployed or have become inactive.
Meanwhile, the value of PoS transactions in the country surged to N1.01 trillion, reflecting a growing shift towards cashless transactions in Nigeria.
This is a significant increase from the N930.76 billion volume in June 2024 and N923.37 billion in July 2023. The surge follows the spread of PoS terminal deployment across the country.

New National Star recently reported that according to (NIBSS) the value of Point of Sale transactions in Nigeria between January and July 2024  decreased to N6.23 trillion.

This was a 7.4 percent decline compared to the N6.79 trillion recorded in the same period in 2023, reflecting changes in consumer behaviour and spending patterns. A breakdown of the NIBSS data showed  that PoS transactions increased by 5.3 percent in January to N850.09 billion, up from N807.16 billion in the corresponding month of 2023.

However, February declined to N805.05 billion, down 8.9 percent from N883.4 billion in February 2023. March saw a sharp 16.5 percent drop, with transactions falling to N961.86 billion from N1.15 trillion in March of the previous year.

The data showed that the downward trend continued in April, with PoS transactions dropping by 22.3 percent to N811.78 billion, compared to N1.04 trillion in April 2023. However, May reversed the trend, with transactions increasing by 16.1 percent year-on-year to N868.6 billion.

It declined in June, with PoS transactions dipping 1.3 percent to N930.76bn, down from N943.38bn in June 2023. However, PoS transactions in the country picked up again in July, rising by 8.9 percent to N1 trillion, compared to N923.32 billion in July 2023.

Recall that e-payment transactions in the country jumped by 86.44 percent to N566.3 trillion in the first half of 2024 from N303.6 trillion in the same period last year.

The data showed that July saw the highest transaction value, totaling N89.5 trillion, compared to N47.39 trillion in July 2023.

  • PoS transactions value in the country hit an all-time high of N1.15 trillion in March last year, when the PoS value hit an all-time high is attributable to the unusual cash scarcity during the period, which forced many Nigerians to embrace electronic transactions.
  • Aside from the 2023 cash scarcity, the growth of PoS transactions in Nigeria is being driven by many factors, part of which include rapid adoption by merchants for receiving payments.
  • PoS is also bridging the gap created by the shortage of Automated Teller Machines (ATMs) deployed by banks, as many Nigerians now withdraw through PoS agents.
  • Meanwhile, the Central Bank of Nigeria (CBN), in a move aimed at strengthening the monitoring of electronic transactions across Nigeria recently issued a new directive to Payment Service Providers (PSPs), requiring them to comply with enhanced routing guidelines for PoS transactions.
  • The directive, issued on September 11, 2024, follows CBN’s initiative to diversify the Payment Terminal Service Aggregator (PTSA) structure, which previously operated through a single aggregator.
  • This came amid an ongoing debate on the propriety of the registration of PoS operators mandated by the Corporate Affairs Commission (CAC).
  • While the September deadline issued by the Commission has lapsed, the  CAC said it has commenced the process of taking drastic actions including shutting down Point of Sales (PoS) businesses that have failed to register their businesses.
  • According to the Commission, PoS operators who had not registered might be engaging in “unwholesome activities.”
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Banking sector tops with $1.1bn as Nigeria’s capital importation hits $2.6bn

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BY SAM OTUONYE 

Nigeria’s capital importation soared to an impressive $2.6 billion in Q2 2024, marking a significant 152.81% increase from $1.03 billion in the same quarter last year.

According to the National Bureau of Statistics, NBS, the surge reflects a robust recovery in the investment climate, even as it represents a decline of 22.85% from $3.37 billion in Q1 2024.
The banking sector emerged as the top recipient, attracting U$1.1 billion (43.15%), followed by production and manufacturing at $624.71 million (23.99%), and trading at $569.22 million (21.86%).
The oil and gas industry secured $5 million in investments, as portfolio investments dominated the landscape, contributing $1.40 billion (53.93%), while other investments totaled $1.16 billion (44.92%).
Foreign direct investment remained minimal at just $29.83 million (1.15%).
The banking sector emerged as the top recipient, attracting U$1.1 billion (43.15%), followed by production and manufacturing at $624.71 million (23.99%), and trading at $569.22 million (21.86%).
Geographically, the United Kingdom was the largest source of investment, contributing $1.120 billion (43.01%), followed by the Netherlands with $577.82 million (22.19%) and South Africa at $255.98 million (9.83%).
Lagos State remained the prime destination for these investments, drawing in $1.36 billion (52.52%), while Abuja followed with $1.23 billion (47.48%), and Ekiti state with $0.0003 million.
Citibank Nigeria Limited received the highest capital importation into Nigeria in Q2 2024 with $818.46 million (31.43%), followed by Standard Chartered Bank Nigeria Limited with $654.79 million (25.14%) and Rand Merchant Bank Plc with $488.59 (18.76%).
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