APC Crisis: Party Members Withdraw Litigations, ‘Thank you Visit to Mr. President’ – Governor Bagudu
APC Crisis: Party Members Withdraw Litigations, ‘Thank you Visit to Mr. President’ – Governor Bagudu
The Reasons President Muhammadu Buhari moved against the suspended National Chairman of the All Progressives Congress, APC, emerged last night, as the National Executive Committee, NEC, wielded the big stick to check the crisis ravaging the party and avert what the President described as self-destruction.
The Former Director, Programs Committee for Defense of Human Right ‘Shina Loremikan’ stated that all litigants where advised to withdraw their litigation during the NEC Meeting.He confirmed this during the live interview with Vanguard TV.
According to him, a questionable meeting was held by the Federal Attorney General and Minister of Justice to swear in the Tactical Committee amid the APC crisis. During the Live interview, a statement confirmed that, “Buhari moved against Oshimhole because he married the APC Party to himself”.
However, the Governor of Kebbi State , Abubakar Atiku Bagudu has disclosed that President Buhari is happy that the crisis rocking the All Progressives Congress (APC) has been resolved.
Bagudu who disclosed this at an interview with state house correspondents after the caretaker committee of the APC visited Buhari at the presidential villa on Friday June 26, said President Buhari does not interfere in the affairs of the party as he is focused on the mandate Nigerians handed to him.
“He (Buhari) is happy that at last we have one less distraction… Mr President is conscious of the mandate given to him by Nigerians and even though he bothers a lot about his party, but what dominate his daily action are economy, security, transparency and the progress of Nigeria. So he’s very happy.
“This is a thank you visit to Mr President. I have in the delegation the brand new Chairman of the All Progressives Congress Caretaker and Extraordinary National Convention Planning Committee, the Chairman of the Nigerian Governors’ Forum, Kayode Fayemi member of the Caretaker and Extraordinary National Convention Committee, representing the North-Central, His Excellency, Alhaji Abubakar Bello, the Kogi State governor, Alhaji Yahaya Bello and myself.
“We thanked Mr President for all he has been doing for the Progressive family, which culminated in the visionary and momentous resolution of party disputes that took place yesterday. Testimonials, news, commentaries, media from across the country are all happy for what has been done yesterday.
“Equally, to appreciate all the gains that had been made under his capable, brilliant and visionary leadership. Our country is more food secured, the economy, though challenged by the coronavirus pandemic and recovering from the 2016 recession, is doing better than most countries in similar situation.
“Accountability has increased tremendously, we are hearing of security gains on daily basis in all parts of the country and those are what Mr President campaigned upon and Nigeria has one of the most robust responses to the coronavirus pandemic, all because of his thoughtful imaginative and patriotic leadership.
“At the same time, it’s to introduce, yet again, the Chairman of our Caretaker and Extraordinary National Convention planning Committee, who is a very seasoned administrator and politician, the governor of Yobe State, His Excellency, Mai Mala Buni, and to thank him on behalf of the Progressive Governors’ Forum for deeming it so fit to include three governors in the committee: the Chairman, governor of Niger State and the governor of Osun State; Gboyega Isiaka Oyetola.”
On some members of the dissolved NWC seeking redress in court, Bagudu added;
“Media says a lot of things, but Mr President is very clear that he received due legal advice and remember, before the 2019 primaries, Mr President demonstrated to everyone in this country that he will never sacrifice due process for expediency. Even when it was convenient to extend tenure of the then executive so that we don’t have a convention and primary at the same time, Mr President said no, no matter how tough it is, we are going to do the correct legal thing. So Mr President will never do anything which the constitutional provisions of party, talk less of the country, does not allow him to do.”
CBN Sells Polaris Bank To SCIL
The Central Bank of Nigeria (CBN) has announced the completion of the sale of shares in Polaris Bank to Strategic Capital Investment Limited (SCIL), a new core investor.
In a statement signed by its Director, Corporate Communications Department, Osita Nwanisobi, the CBN said that SCIL has paid an upfront consideration of N50 billion to acquire 100% of the equity of Polaris Bank and has accepted the terms of the agreement, including the full repayment of the sum of N1.305 trillion, being the value of the bonds, which as part of its intervention, in 2018, to revoke the licence of the former Skye Bank Plc. and establish Polaris Bank to assume its assets and certain liabilities, the banking industry regulator injected into Polaris through the Asset Management Corporation of Nigeria (AMCON) and is to be repaid over a 25-year period.
The statement reads: “The Central Bank of Nigeria (CBN) and the Asset Management Company of Nigeria (AMCON) are pleased to announce the completion of a Share Purchase Agreement (SPA) for the acquisition of 100% of the equity in Polaris Bank by Strategic Capital Investment Limited (‘SCIL’).
“Polaris has been operating as a bridge bank since 2018 when the Central Bank of Nigeria intervened to revoke the licence of the former Skye Bank Plc. and established Polaris Bank to assume its assets and certain liabilities. As part of the CBN intervention, consideration bonds with a face value of N898 billion (future value of N1.305 trillion) was injected into the bridge bank through AMCON, to be repaid over a 25-year period.
“These actions were taken to prevent the imminent collapse of the bank, enable its stabilisation and recovery, protect depositors’ fund, prevent job losses and preserve systemic financial stability. SCIL has paid an upfront consideration of N50 billion to acquire 100% of the equity of Polaris Bank and has accepted the terms of the agreement which include the full repayment of the sum of N1.305 trillion, being the consideration bonds injected.
“The CBN thus received an immediate return for the value it has created in Polaris Bank during the stabilisation period, as well as ensuring that all funds originally provided to support the intervention are recovered. The sale was coordinated by a Divestment Committee comprising representatives of the CBN and AMCON, and advised by legal and financial consultants. The Committee conducted a sale process by ‘private treaty’, as provided in Section 34(5) of the AMCON Act to avoid negative speculations, retain value and preserve financial system stability.
“In the process, parties who had formally expressed an interest in acquiring Polaris Bank, subsequent to the CBN intervention in 2018, were invited to submit financial and technical proposals. Invitations to submit proposals were sent to 25 pre-qualified interested parties, out of which three parties eventually submitted final purchase proposals following technical evaluation. All submissions were subject to a rigorous transaction process from which SCIL emerged as the preferred bidder having presented the most comprehensive technical/financial purchase proposal as well as the highest rated growth plans for Polaris Bank.”
The CBN Governor, Mr. Godwin Emefiele, was quoted in the statement as saying that: “This sale marks the completion of a landmark intervention in a strategic institution in the Nigerian banking sector by the CBN and AMCON. We commend the outgoing board and management for their vital role since the bridge bank was established; in stabilising the Bank’s operations, its balance sheet and implementing strong governance structures to address the issues that led to the intervention.
“This process has provided the CBN with an unprecedented opportunity to recover its intervention funds in full and promote financial stability and inclusive growth. We wish SCIL well as they implement growth plans to build the bank from the strong foundations that have been established.”
Media Intelligence agency Marks Six years of Operation in Nigeria
Media Intelligence agency Marks Six years of Operation in Nigeria.
P+ Measurement Services, Nigeria’s foremost Independent Public Relations measurement and evaluation agency, celebrates its sixth year of effective operation with qualitative offerings for its numerous clients, as it rebrands with a new business logo, website, and office to deepen penetration.
The leading company has in the past six years engendered the needed growth for its clients, and the rebranding is part of efforts aimed at sustaining its leading position in the sector, having worked with over 47 brands and 17 Public Relations agencies in Africa’s largest economy.
The logo with new colors depicts the innovation and creativity of the brand, as also shown on its new website with the agency service rate, to enable brands and agencies to make faster decisions in budgeting.
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As the only AMEC Member in Nigeria, P+ has strong partnerships with the Nigerian Institute of Public Relations (NIPR) and Reelforge Media Monitoring, the biggest media monitoring agency in the East African region, covering more than five countries.
Speaking on the company’s new development, the Chief Insights Officer, Philip Odiakose, said P+ is strongly positioned to effectively deliver on its offerings, with state-of-the-art structure, process and highly skilled media analysts in an exceptional and value-driven business model in line with global best practices.
“Our Measurement and Evaluation report is in-depth, robust, and flexible to accommodate valid metrics that brands desire to see reflected in their customized reports, and also based on the AMEC Standard in accordance with the Barcelona Principle 3.0. We deploy the P+MCA (media content analysis) methodology for media evaluation and analysis based on qualitative and quantitative metrics in analyzing media exposure,” Odiakose affirmed.
He said the new office would serve as a hub in the country and the West Africa sub-region, where the company will provide media monitoring, measurement, evaluation, and performance audit services for brands, media agencies, government agencies and NGOs.
Also as part of its efficient services, the measurement and evaluation company introduced “Get-Reports,” a novel product that allows the purchase of PR performance audit reports in key sectors.
The “Get-Reports” product spans across different industries which includes the 22 Commercial Nigerian Banks PR Performance Audit Report, Top Nigerian Insurance PR Performance Audit Report, Top Nigerian Digital Banks PR Performance Audit Report, and Top Online Streaming Services PR Performance Audit Report.
It’s not too late for NASS to revisit e-transmission of election results – SAN
By Gistflash News
Sept 26, 2021
The clause 52(2) of the bill gives the Independent National Electoral Commission (INEC) the discretion to determine when, where and how voting and transmission of results will be done.
The Senate had ruled out the possibility of having results transmitted electronically when it voted that the NCC, with the National Assembly’s approval, would determine whether INEC could transmit results electronically or not.
Similarly, the House of Representatives, on July 16, passed the Electoral Act (Amendment) Bill, maintaining the controversial Clause 52(2) as presented amidst protests, especially by members of the minority caucus.
After the passage of the bill, the Speaker, Mr Femi Gbajabiamila, criticised the proposed electronic transmission of election results, saying it was not feasible in the country for now.
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