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Real Reason Ogbemudia dug his grave, shared his property to family members before death…

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The news of the death of the two-time former governor of old Bendel State, Dr Samuel Osaigbovo Ogbemudia, at the age of 84, came to many as a shock. This was because many knew that the civil war hero had been battling diabetes and high blood pressure just like other people of his age for some time, but dying was something nobody thought of.

The elder statesman had been living a quiet life since he resigned from partisan politics shortly after his 83rd birthday in 2015. On that occasion, Comrade Adams Oshiomhole, who was governor of Edo State then, appealed to Ogbemudia to quit partisan politics and become a statesman that he deserved. Oshiomhole noted that the retired army general laid the foundation on which Edo and Delta states were being built, adding that he should not be a PDP leader alone but a leader of the people. Two months later, Ogbemudia announced his retirement from politics. He was an ardent supporter of the Oshiomhole administration and that pitched him against his own party then, the PDP. And the late elder statesman owed nobody any apologies for that after he described Oshiomhole as God-sent to Edo. It would be recalled that even while he was in the PDP, some of the party leaders visited him with a view to convincing him to support the party due to his aloofness in the affairs of the party since the coming of Oshiomhole. His answer to their request shocked the PDP leaders. He asked them: “Which road did you people pass through to get to my house?” They explained to him that they passed through New Lagos Road”.

While the PDP leaders acknowledged that the road was beautiful, he further asked them: “Who built the road?” The PDP leaders, who were now confused about where he was heading to, told him it was Oshiomhole. The late elder statesman went further to query the visitors, “So you people now expect me, as old as I am, to deceive my people? How do you expect me to tell the people of this community to vote against a man that built the roads in my area, roads that PDP failed to build when they were in power. Do you want me to look like a stupid leader?” The elder statesman admonished the PDP leaders to go and support the Oshiomhole administration which, he said, was working for the people, adding that being in opposition does not mean they should continue to criticize a government that was working for the masses. The PDP leaders left disappointed. And following what he described as the satisfactory performance of the APC administration in Edo, Ogbemudia endorsed the incumbent governor, Mr Godwin Obaseki. His Edo Mass Movement (EMM) has supporters across the three senatorial districts of the state made up of youths, veteran politicians and market women. And because he is adored across the state, his directive that the people of Edo should vote for Obaseki contributed immensely to the victory of the governor in the September 28, 2016 governorship election. Despite his differences with the PDP in the state, the late Ogbemudia kept his relationship with the former Chairman, Board of Trustees of the PDP, Chief Tony Anenih, who he described as a “very good friend and political ally”. Iheya residence For many in the state, it is still unbelievable that despite his profile as a military and civilian governor, he chose to live in his Iheya Street, off New Lagos Road residence when leaders of his calibre live in the Government Reserve Area (GRA). Ogbemudia’s humility had no bounds. Asked why he chose to live in Iheya Street, he said, “GRA is too quiet for me. I prefer to live where our people live. I enjoy the noise. Secondly, my mother was buried in this my Iheya residence and I cannot abandon where my mother is buried. In fact, I dug my own grave close to that of my mother. That is where I will be buried the day I die. I want to be laid close to my mother because it was through her I came to this earth”.

Also explaining why he decided to share his property amongst his children while he was alive, he explained: “I have seen such things tear families apart when the bread winners die. And I don’t want that to happen to my family when I die. So I have shared all I have to my family and nothing is being contested. So if God calls me any day, my children know what belongs to them and there will be no quarrel because I hate quarrels and such crisis in the family”. Even at death, Ogbemudia remains the humble general. He had directed that he would want to buried within seven days of his death and that his body should not be kept in the mortuary. Consequently, Obaseki expressed his desire to respect the wishes of the elder statesman and the programme for his burial was arranged accordingly. His remains arrived Benin Airport from Lagos on Tuesday and were received by Obaseki and his counterpart from Delta State, Dr Ifeanyi Okowa. Shortly after the military aircraft, which ferried the body arrived the Benin airport, Obaseki and Okowa went inside the aircraft where they opened the corpse with a view to ensuring it was that of the elder statesman. The corpse was accompanied by Ogbemudia’s younger wife, Yetunde. Others who received the corpse at the Benin Airport include the deceased’s eldest son, Sam Ogbemudia Jr, the Deputy Governor of the state, Comrade Philip Shaibu, Secretary to the State Government, Osarodion Ogie, Chief of Staff to the Governor, Taiwo Akerele, APC leaders, market women and youths. Members of the Benin cultural troupes, who sang to welcome the corpse, betrayed emotions when the body was transferred to a black BMW ambulance. The casket was gold plated. Tears flowed freely when the body arrived. The pains were visible on the faces of Obaseki and Okowa. Obaseki lamented: “This was not what I bargained for because I just came into office few months ago, and our late elder statesman was one of those I was hoping will help me lead our great state because he had been very supportive from day one. I saw him after my victory in the election when I went to visit him and we spent quite a lot of time in public and in private and he admonished me and assured me of his support. I cannot forget the encouragement he gave to me,, without his open and clear endorsement, my campaign and victory would have been very difficult. For us in Edo we will miss him, but we will remember him for the great legacies that he left for us”.

Okowa said: “ I saw him last when he celebrated his birthday in 2015 at the Public lecture and it was quite an interesting moment. We talked about a lot of things, I thank God that he still lives through his works. Obviously our elder statesman was somebody that meant a lot to us, Edo and Delta states. I recalled in 2015 when he invited me for his birthday. We will remember him for so many good things. I, particularly growing up in Edo, particularly Edo College, he was military administrator then. He did a lot for the Midwest Region and today a lot of things stand in his name and we continue to remember him and I believe he is a role model to all politicians. There is a lot that can be done even in the midst of difficulties, that is exactly what he represents. He was a friend to all”. Meanwhile, the committee set up by the state government to give the late elder statesman a befitting burial, led by the Edo SSG, Osarodion Ogie, is forging ahead with its assignment. Dignitaries across the country also continued to throng the state to pay condolence. Oshiomhole, Gen. Ibrahim Babangida, Chief EK Clark, former governor of Rivers State, Dr Peter Odili, Gen.Yakubu Gowon, Chief Olusegun Obasanjo, Chief James Ibori, Chief Lucky Igbinedion, Parry Osayande, Prof.Gregory Akenzua and several others have continued to pay tributes. Oshiomhole said: “ I have enjoyed a long history of relationship with our leader. It is not flattering when I say to people that God sent Ogbemudia to come and lay foundation for us. And you begin to appreciate this more when you discover that by the time he made this undisputable solid foundation, there were some of his counterparts who felt that they had no obligations to the people of their states, that they were accountable to their masters at Dodan Barrack. But what Ogbemudia did flowed from his conviction that this part of the world deserved the very best that government could provide. So we must find sufficient consolation in the fact that our leader immortalized himself before he left”.

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Plenty motion and serious movement at the CBN – Toni Kan

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The Igbo people have a proverb; the way the morning dawns tell us how the rest of the day will go and if we look at how Yemi Cardoso’s 2025 dawned, we can safely surmise that 2025 is going to be a busy, productive, impactful year at the apex bank.

It is also an important one, leading up as it does to the conclusion of the banking capitalization exercise announced on March 28, 2024 and due to conclude on March 31, 2026. In the last week of January, Zenith Bank announced that it had raised a total of N350.4 billion through its recently concluded hybrid Rights Issue and Public Offer.

With other banks concluding their capitalization plans, 2025 is already shaping up as an exciting year for the financial health of Nigerian banks with interesting outcomes expected.

As 2025 dawned, the Central Bank of Nigeria (CBN) signaled that it will no longer be business as usual. For years, Nigerian business entities and their regulators across sectors have enjoyed, what can almost be described, as a cosy and incestuous relationship. For the banking and finance industry that hand-in-glove dalliance seem to have assumed frightening dimensions in the recent past.

With Cardoso, there has been a clear line drawn in the sand. The apex bank will carry out its function as banker to the banks without caring who is impacted.

That message resonated early this year when nine deposit money banks were fined by the CBN for failing to meet cash availability thresholds during the Christmas period.

The CBN had via a circular dated November 29, 2024: “Cash Availability Over the Counter in Deposit Money Banks (DMBs) and Automated Teller Machines (ATMs)”  directed DMBs to ensure efficient cash disbursement to customers Over the Counter (OTC) with the CBN insisting that it will enforce the directive and ensure compliance.

A statement from the apex bank read: “In a clear message of zero tolerance for cash flow disruptions, the Central Bank of Nigeria (CBN) has sanctioned Deposit Money Banks (DMBs) for failing to make Naira notes available through automated teller machines (ATMs), during the yuletide season. Each bank was fined N150 million for non-compliance, in line with the CBN’s cash distribution guidelines, following spot checks on their branches.”

The sanctioned banks are Fidelity Bank Plc, First Bank Plc, Providus Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, Keystone Bank Plc, Union Bank Plc, Globus Bank Plc, and Sterling Bank Plc. Totaling N1.35 billion, the fines will be debited from the DMBs’ accounts with the apex bank.

To underline its commitment to transparency and accountability, the CBN reiterated its vision of remaining “a trusted and respected Central Bank promoting confidence in the Nigerian economy, contributing to a stable, inclusive, and competitive nation.”

According to the CBN governor, “As we shift from unorthodox to orthodox monetary policy, the CBN remains committed to restoring confidence, strengthening policy credibility, and staying focused on its core mandate of price stability.”

To achieve these aims especially with regard to the FX market, the CBN has taken some bold and innovative decisions.

Mid-January, the apex bank “launched the Nigeria Foreign Exchange Code #FXCode – marking a decisive step forward for integrity, fairness, transparency and efficiency in our FX market. The FX Code is built on six core principles: ethics, governance, execution, information sharing, and risk.

The CBN has also cleared the verified FX commitments, which amounted to $7 billion, “discontinuing the Central Bank’s quasi-fiscal interventions and unifying the multiple exchange rate windows.”

The immediate effect has been a Nigerian currency that has maintained stability since the festive period with an over N40 appreciation over the green back. This has led the Chairman, Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Mukhail Adetokunbo Abiru, to commend the CBN for its “efforts in ensuring stability in the foreign exchange market, enhancing liquidity and reducing market distortions.”

The CBN’s focus on diaspora remittances received further boost with the launch of the diaspora account. The launch is significant as it signposts Cardoso’s penchant for following through with promises made. He had hinted at the coming of the diaspora account in a series of disclosures and announcements on the sidelines of the IMF/World Bank meetings in October.

The launch was conveyed via a January 10, 2025 circular. Introduction of Non-resident Nigerian Ordinary Account and Non-resident Nigerian Investment Account. The accounts aim to not just encourage and increase diaspora remittances they are also designed to help Nigerians in the diaspora take advantage of investment opportunities in-country. Analysts believe that this will be a game changer which will impact not just remittances but the foreign reserves as well as the overall economy.

The Non-resident Nigerian Ordinary Account (NRNOA) will allow Non-Resident Nigerians (NRNs) to remit their foreign earnings to Nigeria and manage their finances in both foreign and local currencies while the Non-resident Nigerian Investment Account will facilitate investments in Nigerian assets using either foreign currency or naira.

The announcement is getting positive feedback and to ensure adequate awareness and facilitate uptake in the target audience, the CBN hierarchy has held consultations with Abike Dabiri Chairman/CEO of Nigerians in Diaspora Commission (NiDCOM) who has applauded the move as a “a strategic initiative to enhance diaspora engagement and bolster Nigeria’s economic growth.”

Before the announcement of the new diaspora targeted accounts the CBN had laid the groundwork for seamless implementation by working with the Nigerian Inter-Bank Settlement System (NIBSS) to launch a non-resident Bank Verification Number (BVN) platform to enable Nigerians in diaspora operate their local bank accounts.

 

In mid-2024, the CBN reported an all-time high diaspora remittance inflow of $553m and the CBN had on the back of that set a $1bn monthly diaspora remittance target. How is that target being met? Speaking at the Monetary Policy Forum with the theme, “Managing the Disinflation Process” in Abuja, Cardoso noted that “remittances through IMTOs rose 79.4% to US$4.18 billion in the first three quarters of 2024, demonstrating the positive impact of FX reforms. Additionally, the CBN lifted the 2015 restriction barring 41 items from accessing FX at the official market to enhance trade and investment.”

As February dawns and economic activities resume fully what is the outlook? With inflation at 34.80% and the MPR at 27.55, the IMF, according to thecable.ng, has projected that Nigeria will record GDP growth of 3.2 percent in its economic growth forecast for 2025. But the CBN is more optimistic with a projection of 4.17 percent according to a presentation by the bank at the ‘National Economic Outlook: Implications for Businesses in 2025.”

The apex bank’s optimistic forecast is anchored on a cocktail: ongoing fiscal and monetary reforms, sustained implementation of government reforms, steady crude oil prices, and improvements in domestic oil production as well as hopes of a stable exchange rate.

Cardoso and his team are singing clearly from the same hymn book. In his speech on Thursday, January 30, 2025 when he hosted the Monetary Policy Forum 2025, the CBN governor was upbeat as he spoke to the theme: “Managing the Disinflation Process”

The CBN governor emphasised that the goal of the CBN is to ensure that monetary policy remains forward-looking, adaptive, and resilient. “Our focus must remain on price stability, the planned transition to an inflation-targeting framework, and strategies to restore purchasing power and ease economic hardship. The CBN is continuing its disciplined approach to monetary policy, aimed at curbing inflation and stabilizing the economy. These actions have yielded measurable progress: relative stability in the FX market, narrowing exchange rate disparities, and a rise in external reserves to over $40 billion as of December 2024.”

Collaboration, Cardoso noted, remains key to success. “In addressing our economic challenges, collaboration is key: “Managing disinflation amidst persistent shocks requires not only robust policies but also coordination between fiscal and monetary authorities to anchor expectations and maintain investor confidence.”

The subtext from that interaction as well as the ongoing innovations and initiatives is simple; achieving success is a marathon and not a sprint and reaching the finish line requires resilience.

 

***Toni Kan is a PR expert and financial analyst.

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NAFDAC boss seeks death penalty for fake drug dealers

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The National Agency for Food and Drug Administration and Control has proposed the death penalty for drug peddlers.

The Director-General of the agency, Mojisola Adeyeye, made this call on Friday while speaking during Channels Television’s The Morning Brief.

She argued that only strict penalties would deter drug peddlers, especially when their actions result in the deaths of children.

“Somebody bought children’s medicine for about N13,000, while another person was selling it for around N3,000 in the same mall.

“That raised an alarm. Guess what? When we tested the medicine in our Kaduna lab, there was nothing inside. So, I want the death penalty.

“You don’t need to put a gun to a child’s head to kill them. Just give them bad medicine,” Adeyeye said.

The NAFDAC boss also called for the cooperation of the judiciary and the National Assembly to make the proposal a reality.

According to her, the agency is open to working with lawmakers and other stakeholders on the matter.

She said, “You cannot fight substandard and falsified medicines in isolation. The agency can only do so much, but if there is no deterrent, there will be a problem.

“Someone brought in 225mg of Tramadol, which can kill a person or fry their brain, and the punishment is just five years in prison or a fine of N250,000. Who doesn’t know that a person can simply withdraw N250,000 from an ATM?

“That is part of our problem — there are no strict measures to stop offenders from repeating the same crime. We can only do so much, but if our laws are not strong enough or the judiciary is not firm in its stance, we will continue to face this challenge.

“So, our judicial system must be strong enough. We are working with the National Assembly to make our penalties much stiffer. But if you kill a child with bad medicine, you deserve to die.”

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Ministry of Education clears air on scrapping JSS, SSS

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The Ministry of Education has clarified that the Minister of Education, Tunji Alausa, only proposed the introduction of a 12-year basic education system, which is looking to scrap the Junior and Senior Secondary School system was already in effect.

According to the ministry, the policy will not be implemented immediately.

In a statement signed by the Director of Press, Folasade Boriowo, the ministry noted that the National Council on Education, NCE, would review the proposal before any final decision is made.

“At the Extraordinary National Council on Education Meeting held on 6 February 2025 in Abuja, the Minister of Education, Dr Maruf Olatunji Alausa, presented a proposal for discussion — not an immediate policy change,” it read.

“The proposal seeks to transition to 12 years of compulsory education while retaining the current 6-3-3 structure.

It added: “However, this remains subject to further consultation and deliberation.

“To ensure a well-informed decision, the ministry will undertake extensive stakeholder engagements over the next eight months, consulting education policymakers, state governments, teachers, parents, and other key players.

“The final decision on whether to adopt this reform will be made at the National Council on Education meeting in October 2025.”

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