INEC Denies Rumors of Prof. Yakubu's Death

The Independent National Electoral Commission (INEC) has refuted claims circulating on social media regarding the alleged death of its chairman, Prof. Mahmood Yakubu.

Rotimi Oyekanmi, Chief Press Secretary to the Chairman, issued a statement confirming that Prof. Yakubu is alive and in good health. He also clarified that Prof. Yakubu has not traveled to London in the past two years.

Reports were shared on social media stating that the INEC chairman had passed away in a London hospital following a brief illness. The statement read: “We have been alerted to a false narrative circulating on social media claiming that INEC Chairman, Prof. Mahmood Yakubu, has died in a London hospital. This story first emerged on Monday, December 9, 2024.

“We urge the public to disregard this rumor. Prof. Yakubu is alive, healthy, and in good spirits. He has not traveled to London in the last two years. He was present at an interactive meeting with the House of Representatives Committee on Electoral Matters on Wednesday, December 11, 2024, and chaired the Commission's meeting with Resident Electoral Commissioners on Thursday, December 12, 2024. Both events were widely covered on television and featured prominently in major newspapers on Friday, December 13, 2024.

“The public may remember that similar rumors circulated in 2021, and now, three years later, the same falsehood is being spread again. 

“Those who engage in this behavior, as well as those who propagate these stories, should consider the impact on both the individual and society as a whole.

“The Commission will continue to collaborate with reputable media professionals to combat the spread of fake news and the dangers it poses to society.”

FG Targets 2,000 Renewed Hope City, To Restore Unused Buildings through PPP, As Minister Pays Working Visit to Lagos By Abiola PETERS

 

All is set for the groundbreaking of the Two Thousand Renewed Hope City in Ibeju Lekki, Lagos, by President Bola Tinubu, to cover the Southwest region of the country.
Minister of Housing and Urban Development, Architect Ahmed Musa Danginwa, who stated this during an inspection of federal government buildings in Lagos, said that the President would later be in Kano to do the groundbreaking that will cater for the North Central region.
Architect Danginwa said he had earlier met with Governor Babajide Sanwoolu, and they both agreed to a Tripartite Committee that would resolve all issues concerning housing and lands between the federal and state governments.
According to the Minister, one of such issues is the integrity and security concerns of unrehabilitated federal government buildings, stating that some will be taken care of with budgetary expenses, while the Private sector will be engaged for others for rent and eventually revenue for the federal government.

Architect Danginwa, who had earlier visited the Fields Headquarters Office, housing over forty federal government offices at Tafawa Balewa Square, acknowledged the deplorable state of the facility with a promise to ensure the upgrade and improve the work conditions of the staff.
Earlier, the Controller of Housing, Lagos, Town Planner Funmilayo Olayiwola, had listed a lack of power supply, water, dilapidated structures and obsolete operational vehicles as part of the challenges in the Headquarters and some other offices, thereby limiting the productivity of staff.

The Minister of Housing and Urban Development also visited the old Federal Secretariat, Ikoyi, Federal Land Registry Ribadu, Ikoyi, Craft Training Schools in Ikoyi and Harvey Road, Yaba, 60 beds hostel facilities at Onikan, National Population Commission Land at Surulere and Eric More Housing and Treatment Plant Project at Surulere.

Architect Danginwa  was accompanied by the Minister of State, Mr Yusuf Abdullahi Ata and Permanent Secretary, Dr Marcus Ogunbiyi.pp

The Minister will continue his working visit to Lagos tomorrow with an inspection of some ongoing Federal Government Housing Estates and Projects and also engage stakeholders on Land Administration.
Most of the buildings served as offices of the Federal Government became vacant or unused due to the relocation of the Federal Capital Territory from Lagos to Abuja on December 12, 1991.

RADIO NIGERIA'S METRO 97.7 FM TO RESUME FULL OPERATIONS THIS WEEK.

The Federal Radio Corporation of Nigeria, FRCN, Lagos Operations has assured that Metro FM would commence live transmission of its News and Programmes before the end of this week.
The Director, Mrs Bolanle Owoyemi, gave the assurance when a delegation from the Voice of Nigeria, VON, visited  FRCN Lagos Operations to commiserate with the management over the fire outbreak, which affected a section of the Corporation's building housing Metro FM and Radio One Studios.
"Radio one transmission was restored fully,  24 hours after the unfortunate fire outbreak. Metro FM has been rendering skeletal Services ever since. By the grace of God, we are working assiduously to ensure that Metro  resumes full transmission of its programmes on or before this weekend."

Mrs Owoyemi thanked the Director-General of VON, Malam Jibrin Baba- Ndache and his team for the visit.
Earlier, the leader of the VON delegation and  Director of ICT, Mr Abdulkareen  Maruf, had, on behalf of the VON DG, sympathized with the management of FRCN for the loss of equipment in the fire disaster.
"We are particularly saddened by the loss of equipment and  disruption of operations in the inferno"
The VON delegation, which shares the same premises with Radio Nigeria, unanimously described FRCN as their second home based on the level of cooperation between the members of staff of the two organisations.
The visitors were happy at the revelation by the Director of Lagos Operations, Mrs Bolanle Owoyemi, that Radio Nigeria's Achieve Library was not affected by the fire.
Mrs Owoyemi later took the VON delegation around the FRCN facilities that were destroyed by the fire.

Super Eagles Amplify Shirt Battle Ahead of Continental Qualifying in Accra.

Invited Nigerian players have intensified their fight to make the travelling squad to the African Nations Championship CHAN 2024 qualifying in Accra.
Ghana's Black Galaxies will host Nigeria's Super Eagles B on 22 December 2024 in the first leg of the qualification series.
Sweating it out at the Remo Stars Sports Institute in Ikenne, Ogun State, the 30 invited Nigerian boy, under the supervision of coaches Daniel Ogunmodede and Fidelis Ilechukwu continued their workout for the match.
Only the Enyimba FC duo of goalkeeper Henry Ozoemena and defender Imo Obot were excused from the preparation because of continental engagement.
Both players were in action in Enyimba's 2-2 draw against visiting Zamalek of Egypt in last weekend's CAF Confederation Cup group stage tie in Uyo Akwa Ibom State.
The eventual arrival of the players could add to the intensity of the workout in Ikenne as Nigeria counts down to the first leg against Ghana.
The intense rivalry with Ghana on the field of play aside, the Super Eagles B see this month’s qualifying fixture as an opportunity to regain their pride of place in the hearts of Nigerian ball fans, having missed out on two consecutive editions of CHAN.
Togo ensured Nigeria’s absence from the 2021 finals, with the Hawks gaining a 4-1 win in Togo.
A 2-0 win in Lagos by Nigeria was not enough to overturn the advantage.
In the qualifiers for the last edition hosted by Algeria, the Ghanaian team won 2-0 at home and lost by the same margin in Abuja, only to snatch the ticket after a penalty shootout.
The stage is set for another home-and-away clash between Nigeria and Ghana in the 2024 qualifying.
Winners on aggregate between both nations after the second leg in Uyo on 29 December 2024 will qualify for CHAN 2024 in Kenya, Tanzania and Uganda from 1-28 February 2025.

Victor Ikpeba 5-Aside Football Tourney Honours Late Sports Journalist.

Twenty-four teams will clash in the Victor Ikpeba 5-A-Side football tournament, scheduled for 19-21 December 2024, at De Cloud Entertainment Center, Osubi, Delta State.
Tournament initiator, Victor Ikpeba, the 1997 African Footballer of the Year, announced that this year's event will feature under-20 players.
Previous editions have featured under-15 and under-17 categories, showcasing the event's commitment to developing youth football and giving back to society.
Screening and draws for this month's competition will commence on 9 December 2024 at 8 am with the tournament adopting a knockout format.
Incentives for participants include branded jerseys and cash prizes for the top four teams, plus free entry for all the clubs.
The 2024 tournament, according to Ikpeba, is organised in memory of late veteran sports journalist Dapo Sotuminu who was a pioneer inspiration behind the project.

Tax reform to transform economy – CITN.

The Chartered Institute of Taxation of Nigeria has expressed support for the tax bills, which are before the National Assembly, claiming that they would boost the economy.
CITN President/Chairman of Council Samuel Agbeluyi expressed his support on Wednesday during a workshop for tax and finance reporters in Lagos.
He stated that the tax bills before the NASS have been generating nationwide debate with stakeholders pitching for and against them.
According to him, the four tax reform bills, which were transmitted to the National Assembly by President Bola Tinubu on October 3, 2024, have passed through a second reading despite protests against them from the North.
Agbeluyi noted that the institute is closely monitoring and contributing its quota to the current activities of the current government as it relates to taxation and fiscal policy modifications.
He said “It is not in doubt that since its inauguration in May 2023, the current Nigerian government has demonstrated the political will and a strong commitment to overhauling the nation’s tax system, to reduce dependency on oil revenues and promote fiscal stability.
“After painstaking and exhaustive work, the output and recommendations of the Presidential Committee on Fiscal Policy and Tax Reforms have given rise to the Economic Stabilisation Bills currently under legislative consideration and scrutiny at the National Assembly.
“As expected with major tax reforms anywhere, it has elicited a lot of concerns and reactions from stakeholders. CITN welcomes this great effort by the current government in envisioning and pushing for these tax reforms, which are necessary at this point in our national life.”
He pointed out that the bills were capable of transforming the tax space in Nigeria, addressing systemic challenges that had bedevilled the effectiveness of the country’s tax system.
He added that it could engender an enabling environment for businesses to thrive, noting that concerns about the bill be based on facts and figures.
“At the level of the Institute, while we participated at one level or the other in the process leading to the drafting of the bills under reference, we still have some observations in the bills, which we will present at the public hearing on the bills,” he concluded.
Stakeholders have been complaining about the over 65 taxes in the country, advocating that they should be streamlined.
Meanwhile, the Senate on Wednesday suspended action on the tax reform bills.
It further instructed the Committee on Finance to suspend action on the public hearing pending the time the agitation in the public space is addressed.
The Senate further constituted a special committee to meet with the executive branch and work with the Federal Government to resolve the issues surrounding the tax reform bills.

Oversubscription of ongoing Recapitalisation Offers Boosts Strong Investor Confidence.

The Securities and Exchange Commission ( SEC) has charged banks to strengthen their corporate governance principles and risk management framework to enhance investors’ confidence in the ongoing recapitalisation exercise.

Speaking at the annual workshop of the Capital Market Correspondents Association of Nigeria (CAMCAN) in Lagos at the weekend, SEC Director-General, Dr Emomotimi Agama, reiterated the commission’s commitment towards ensuring transparency and efficiency in the  ongoing recapitalisation process.

Dr Emomotimi Agama, who was represented by the Divisional Head, Legal and Enforcement of the SEC), Mr John Achile, explained that the framework on the banking sector recapitalisation (2024–2026) provided clear guidance for issuers while also safeguarding the interests of investors.

He stated that the key to bridging the gap between issuers and investors remained the harnessing of innovation for inclusive growth.

In view of this, he pointed out that SEC, through the aid of digital platform, is exploring the integration of blockchain technology for secure and transparent transaction processing, a step that will redefine trust in the market.

Dr Agama noted that the oversubscription of most recapitalisation offers in 2024 reflects strong investor confidence.

According to him,”To sustain this momentum, he said SEC has intensified efforts to enhance disclosure standards and corporate governance practices.

He said expanding financial literacy campaigns and collaborating with fintech companies to provide low-entry investment options will democratize access to the capital market.

He assured stakeholders of the commission’s steadfastness  in achieving its mission of creating an enabling environment for seamless and transparent capital formation.

  “Our efforts are anchored on; providing issuers with clear guidelines and maintaining open lines of communication with all market stakeholders, reducing bureaucratic bottlenecks through digitalisation, ensuring timely review and approval of applications, and enhancing regulatory oversight to protect investors while promoting market integrity,” he said.

  Agama listed the constraints to the exercise to include: addressing market volatility, systemic risks, limited retail participation as well as combating skepticism among investors who demand greater transparency and accountability.

  “We are equally presented with opportunities which include leveraging technology to deepen financial inclusion and enhance market liquidity, as well as developing innovative financial products, such as green bonds and sukuk, to attract diverse investor segments.

He stressed that the success of recapitalisation efforts depends on collaboration among regulators, issuers, and investors.

Speaking on market infrastructure at the panel session, Achile said SEC provides oversight to every operations in the market, ranging from technology innovations to market infrastructure.

“We are committed to transparency  because we are mindful of the benefits and risks associated with technology adoption. SEC does due diligence to all the innovative ideas that comes into the market to ensure adequate compliance with the requirements,” he said. 

On the rising unclaimed dividend figure, he blamed the inability of investors to comply with regulatory requirements and information gap, noting that SEC has done everything within its powers to ensure that investors receive their dividend at the appropriate time.

However, he  assured that the commission would continue to strengthen its dual role of market regulation and investor protection to boost confidence in the market.