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The former Governor of Ekiti State, Ayodele Fayose, has said Nigeria’s economy may not recover 50 years after President Muhammadu Buhari's administration.

Fayose, stated this via his Twitter handle, @GovAyoFayose, on Friday, in his reaction to the foreign capital flow into Nigeria which plummeted by 59.65% in the last year.

The National Bureau of Statistics, in its capital importation report for the fourth quarter and full-year 2020, said the total value of capital importation into the country fell by $14.3 billion last year from $23.99 billion in 2019.

"The total value of capital importation into Nigeria stood at $1,069.68m in the fourth quarter of 2020. This represents a decrease of -26.81% compared to Q3 2020 and -71.87% decrease compared to the fourth quarter of 2019. Similarly, the total value of capital importation in 2020 stood at $9,680.49 million, compared to $23,990.05 million in 2019, representing a decline of -59.65% between the two periods," the executive summary of the report partly read.

Fayose described the decline in foreign capital flow as evidence of how the Buhari regime had ruined Nigeria.

The governor wrote, “50 years after Buhari, this country may not recover from these economic (and) security woes. Worse still, there is hatred amongst various ethnicities.

“Isn’t it time for leaders of thought in this country to look beyond politics and speak up to save Nigeria from going down permanently?

“Just read that our country’s foreign capital inflow sunk to $9.68bn, its lowest in four years. That’s according to the National Bureau of Statistics.

“This is another evidence that Buhari has killed Nigeria. Economy, security and the unity of Nigeria are in trouble now."

Fayose said considering the negative outlooks for the country, it would be wrong to describe the President as someone with integrity, as his supporters are wont to say.

“Transparency International has now established that under Buhari, Nigeria has become the HQ (headquarters) of corruption. At this point, it's illegal and morally unacceptable to refer to Buhari as Mr Integrity. He has equally failed in securing Nigerians. Therefore, Buhari’s integrity my foot (sic),” he said.

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The former Governor of Ekiti State, Ayodele Fayose, has said Nigeria’s economy may not recover 50 years after President Muhammadu Buhari's administration.

Fayose, stated this via his Twitter handle, @GovAyoFayose, on Friday, in his reaction to the foreign capital flow into Nigeria which plummeted by 59.65% in the last year.

The National Bureau of Statistics, in its capital importation report for the fourth quarter and full-year 2020, said the total value of capital importation into the country fell by $14.3 billion last year from $23.99 billion in 2019.

"The total value of capital importation into Nigeria stood at $1,069.68m in the fourth quarter of 2020. This represents a decrease of -26.81% compared to Q3 2020 and -71.87% decrease compared to the fourth quarter of 2019. Similarly, the total value of capital importation in 2020 stood at $9,680.49 million, compared to $23,990.05 million in 2019, representing a decline of -59.65% between the two periods," the executive summary of the report partly read.

Fayose described the decline in foreign capital flow as evidence of how the Buhari regime had ruined Nigeria.

The governor wrote, “50 years after Buhari, this country may not recover from these economic (and) security woes. Worse still, there is hatred amongst various ethnicities.

“Isn’t it time for leaders of thought in this country to look beyond politics and speak up to save Nigeria from going down permanently?

“Just read that our country’s foreign capital inflow sunk to $9.68bn, its lowest in four years. That’s according to the National Bureau of Statistics.

“This is another evidence that Buhari has killed Nigeria. Economy, security and the unity of Nigeria are in trouble now."

Fayose said considering the negative outlooks for the country, it would be wrong to describe the President as someone with integrity, as his supporters are wont to say.

“Transparency International has now established that under Buhari, Nigeria has become the HQ (headquarters) of corruption. At this point, it's illegal and morally unacceptable to refer to Buhari as Mr Integrity. He has equally failed in securing Nigerians. Therefore, Buhari’s integrity my foot (sic),” he said.

Politics News AddThis :  Original Author :  SaharaReporters, New York Disable advertisements : 
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The former Governor of Ekiti State, Ayodele Fayose, has said Nigeria’s economy may not recover 50 years after President Muhammadu Buhari's administration.

Fayose, stated this via his Twitter handle, @GovAyoFayose, on Friday, in his reaction to the foreign capital flow into Nigeria which plummeted by 59.65% in the last year.

The National Bureau of Statistics, in its capital importation report for the fourth quarter and full-year 2020, said the total value of capital importation into the country fell by $14.3 billion last year from $23.99 billion in 2019.

"The total value of capital importation into Nigeria stood at $1,069.68m in the fourth quarter of 2020. This represents a decrease of -26.81% compared to Q3 2020 and -71.87% decrease compared to the fourth quarter of 2019. Similarly, the total value of capital importation in 2020 stood at $9,680.49 million, compared to $23,990.05 million in 2019, representing a decline of -59.65% between the two periods," the executive summary of the report partly read.

Fayose described the decline in foreign capital flow as evidence of how the Buhari regime had ruined Nigeria.

The governor wrote, “50 years after Buhari, this country may not recover from these economic (and) security woes. Worse still, there is hatred amongst various ethnicities.

“Isn’t it time for leaders of thought in this country to look beyond politics and speak up to save Nigeria from going down permanently?

“Just read that our country’s foreign capital inflow sunk to $9.68bn, its lowest in four years. That’s according to the National Bureau of Statistics.

“This is another evidence that Buhari has killed Nigeria. Economy, security and the unity of Nigeria are in trouble now."

Fayose said considering the negative outlooks for the country, it would be wrong to describe the President as someone with integrity, as his supporters are wont to say.

“Transparency International has now established that under Buhari, Nigeria has become the HQ (headquarters) of corruption. At this point, it's illegal and morally unacceptable to refer to Buhari as Mr Integrity. He has equally failed in securing Nigerians. Therefore, Buhari’s integrity my foot (sic),” he said.

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Some primary school teachers and local government workers in Kogi State have alleged deductions in their salaries by the government.

A former Vice Principal (Academics) in a school in Kogi told SaharaReporters that deductions in the salaries of workers in the state had been a long time ago.

Kogi State Governor, Yahaya Bello.

He said though he had left service, promotion implementation for workers is a problem.

According to him, the victims are primary school teachers and local government workers.

He however said workers in the employ of the state government get their full salaries.

He said, "The salary issue is still the way it is. Primary school teachers earn less than what is expected. They get paid 40 percent of their salary while the government takes 60 per cent. And it is not even uniform, because someone in a local government on grade level 2 might be getting N12, 000 while another person in another local government on that same level might be earning N20, 000.

"The state workers get paid 100 percent of their money though the N30, 000 minimum wage has yet to be implemented. I know someone who is on level 13 but still earns as low as someone on level 9.

"This same person on level 13 ought to have been made a vice principal, but she's still a classroom teacher. Another thing they do is that even if they make you a vice principal, that doesn't increase your salary.

"As a principal and vice principal, all you earn is that same salary you have been earning before getting to that position. You can only get extra money from the petty things you do within the school."

A young man, whose mother is currently a teacher in Kogi, said life has been unbearable for teachers since the governor, Yahaya Bello, came on board.

He said Bello started well but later started screening teachers to identify ghost workers.

"The screening did not end on time. It lasted more than a year. During that period, they weren't paid salaries. After the screening, they now had cleared and uncleared workers. Workers receive meagre salaries that are not enough to support them.

"Some people who were found to be ghost workers were sacked. Later, those that were not cleared were transferred to the pardoned list. My mum was in this category. This process lasted for over two years with no pay. Some died, some survived.

"I have family friends who died because of that. One retired as a director of education in the local government but couldn't afford to pay for medical bills, so he died. His health continued to deteriorate because there was no money to pay for his checkups."

According to him, his mum who is currently on level 9, only started receiving salary last year after the long screening.

He said she was paid N11, 000, which was recently increased to N13, 000.

"In those jobs, levels don't work like that. You might be on level 10 and still be receiving the salary of level 8 workers. My mum started work on level 8 because she came in with the Nigeria Certificate in Education. Teachers' salaries were good before Yahaya came in. Now, it's very bad."

Another source, who claimed his mother was a local government worker, told SaharaReporters that his mother's salary was supposed to be N70, 000 but that she had never been paid up to 50 percent of that.

He said the salary never comes in full but in bits.

"She once said jokingly that if her salary was paid in full, she'd be able to make a meaning out of her life. Now, she's earning a little above N10,000 in a month.

"These workers are really angry about the whole situation, hence they don't like talking about it," he said.

When SaharaReporters contacted the state Commissioner for Information and Communication, Kingsley Fanwo, he said, "I will not be able to speak on the matter because the salaries of teachers are being handled by the local government. I can only speak for the State government and I will not want to delve into an area that I am not conversant with."

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Some primary school teachers and local government workers in Kogi State have alleged deductions in their salaries by the government.

A former Vice Principal (Academics) in a school in Kogi told SaharaReporters that deductions in the salaries of workers in the state had been a long time ago.

Kogi State Governor, Yahaya Bello.

He said though he had left service, promotion implementation for workers is a problem.

According to him, the victims are primary school teachers and local government workers.

He however said workers in the employ of the state government get their full salaries.

He said, "The salary issue is still the way it is. Primary school teachers earn less than what is expected. They get paid 40 percent of their salary while the government takes 60 per cent. And it is not even uniform, because someone in a local government on grade level 2 might be getting N12, 000 while another person in another local government on that same level might be earning N20, 000.

"The state workers get paid 100 percent of their money though the N30, 000 minimum wage has yet to be implemented. I know someone who is on level 13 but still earns as low as someone on level 9.

"This same person on level 13 ought to have been made a vice principal, but she's still a classroom teacher. Another thing they do is that even if they make you a vice principal, that doesn't increase your salary.

"As a principal and vice principal, all you earn is that same salary you have been earning before getting to that position. You can only get extra money from the petty things you do within the school."

A young man, whose mother is currently a teacher in Kogi, said life has been unbearable for teachers since the governor, Yahaya Bello, came on board.

He said Bello started well but later started screening teachers to identify ghost workers.

"The screening did not end on time. It lasted more than a year. During that period, they weren't paid salaries. After the screening, they now had cleared and uncleared workers. Workers receive meagre salaries that are not enough to support them.

"Some people who were found to be ghost workers were sacked. Later, those that were not cleared were transferred to the pardoned list. My mum was in this category. This process lasted for over two years with no pay. Some died, some survived.

"I have family friends who died because of that. One retired as a director of education in the local government but couldn't afford to pay for medical bills, so he died. His health continued to deteriorate because there was no money to pay for his checkups."

According to him, his mum who is currently on level 9, only started receiving salary last year after the long screening.

He said she was paid N11, 000, which was recently increased to N13, 000.

"In those jobs, levels don't work like that. You might be on level 10 and still be receiving the salary of level 8 workers. My mum started work on level 8 because she came in with the Nigeria Certificate in Education. Teachers' salaries were good before Yahaya came in. Now, it's very bad."

Another source, who claimed his mother was a local government worker, told SaharaReporters that his mother's salary was supposed to be N70, 000 but that she had never been paid up to 50 percent of that.

He said the salary never comes in full but in bits.

"She once said jokingly that if her salary was paid in full, she'd be able to make a meaning out of her life. Now, she's earning a little above N10,000 in a month.

"These workers are really angry about the whole situation, hence they don't like talking about it," he said.

When SaharaReporters contacted the state Commissioner for Information and Communication, Kingsley Fanwo, he said, "I will not be able to speak on the matter because the salaries of teachers are being handled by the local government. I can only speak for the State government and I will not want to delve into an area that I am not conversant with."

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Operatives of the Economic and Financial Crimes Commission, EFCC, Ibadan zonal office, on Friday swooped on suspected Internet fraudsters at their hideout in Wisdom Estate, Akobo area of Ibadan.

Head, Media and Publicity, Wilson Uwujaren, in a statement in Ibadan on Friday said the early morning operation, which followed a series of intelligence on the alleged criminal activities of the syndicate, resulted in the arrest of seven suspects between 17 and 29 years old.

The suspects are Sodiq Oluwasegun, Opeyemi Jamiu, Babatunde Damilare, Adisa Babatunde, Abayomi Taofeek, Oluyemi Kayode and Ambrose Timothy.

Items recovered from them include a Lexus RX350 SUV, laptops, different models of expensive iPhones and several documents containing false claims used for impersonation.

He said, "They will be charged to court as soon as investigations are concluded."

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Operatives of the Economic and Financial Crimes Commission, EFCC, Ibadan zonal office, on Friday swooped on suspected Internet fraudsters at their hideout in Wisdom Estate, Akobo area of Ibadan.

Head, Media and Publicity, Wilson Uwujaren, in a statement in Ibadan on Friday said the early morning operation, which followed a series of intelligence on the alleged criminal activities of the syndicate, resulted in the arrest of seven suspects between 17 and 29 years old.

The suspects are Sodiq Oluwasegun, Opeyemi Jamiu, Babatunde Damilare, Adisa Babatunde, Abayomi Taofeek, Oluyemi Kayode and Ambrose Timothy.

Items recovered from them include a Lexus RX350 SUV, laptops, different models of expensive iPhones and several documents containing false claims used for impersonation.

He said, "They will be charged to court as soon as investigations are concluded."

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A witness in an alleged N11.5 billion fraud suit against former Governor Adebayo Alao-Akala of Oyo State, Mr Ayatudeen Ahmed, on Friday, said there was no document indicating that one of the defendants, Olufemi Babalola, received kickbacks from contractors.

Ahmed, who was part of the team that investigated the alleged fraud suit against the defendants, disclosed this on Friday while testifying before an Oyo State High Court, sitting in Ibadan.

 Alao-Akala; a businessman, Femi Babalola; and a former Commissioner for Local Government and Chieftaincy Matters, Hosea Agboola, are being prosecuted by the Economic and Financial Crimes Commission over an alleged N11.5 billion fraud.

The defendants are facing 11 counts bordering on conspiracy, fraud, award of contract without budgetary provision and acquiring property with money derived from illegal activities, among others.

Ahmed was being cross-examined by Akeem Afolabi (SAN), counsel for Alao-Akala and Babalola.

He told the court that he did not have any document indicating that the contractors, who constructed a five-kilometre road in each of the 33 local government areas in the state during Alao-Akala’s administration, paid kickbacks into Babalola’s company account.

The EFCC witness further said that none of the contractors ever complained that the Pentagon Engineering Consultant Firm, belonging to Babalola, was not entitled to the payment made to the firm.

Ahmed further admitted that Babalola, being a Fellow of Nigerian Society of Engineers, undertook different construction projects between the period of investigation and was, therefore, entitled to payment of the contracts done.

The witness, however, admitted that the sum of N269 million allegedly paid into Babalola’s company account on January 1, 2009 by Oyo State government was not captured in the statement of account tendered by EFCC.

Ahmed, who admitted that a memo and payment voucher should reflect who the beneficiary would be, said he was not aware of any memo or voucher by the state government in relation to N269 million payment.

"The witness, who was also cross-examined by Richard Ogunwole (SAN), counsel for Agboola, told the court that he did not know the concerned citizens who complained to EFCC about the alleged contract fraud.

Ahmed said he did not know whether the 5-kilometre road projects for the 33 LGAs in the state were completed or not because he was later transferred from the investigating team. He also said that he didn’t have anything to show that the contractors, who handled the road construction project, were not entitled to the payment made to them by the state government.

Ahmed further admitted that there was no complaint from the state government that the contractors, who were paid for the projects, deceived the government or that they never did the job.

Earlier, the witness, while being led in evidence by the EFCC counsel, Dr Benedict Ubi, had informed the court that the companies that handled road projects received payment from the Joint State/Local Government Account (JAAC) between February 26, 2009 and March 3, 2009.

He said that those companies later made payments into Pentagon Engineering Consultant Firm, owned by Babalola, out of the money received from the state government.

Justice Muniru Owolabi adjourned the case till February 12.

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Gunmen suspected to be Fulani herdsmen have killed a cousin of the Senior Special Assistant to Governor Rotimi Akeredolu on New Media, Gani Muhammed.

The deceased identified as Dayo Ibiye was killed on his farm at Ajowa Akoko, Ondo State.

Speaking to SaharaReporters, Muhammed said, “Three days ago, Dayo, who was my first cousin, went to his farm and met some Fulani herdsmen around the area, so he told them not to come towards his farm but to his surprise, they told him they would come to the farm and he would not do anything. This led to an alteration between him and the herdsmen. They warned him after that not to come to his farm again, that was three days ago.

“So today, he went to his farm. Before you know it, those Fulani showed up at the farm. The person with him, on sighting them, ran away. Before the police and other villagers could get there, he had been killed. We met his lifeless body on the farm.”

Muhammed added that the remains of the deceased had been deposited at the morgue.

The incident happened a few weeks after the state governor, Rotimi Akeredolu, ordered herdsmen to vacate the state’s forest reserves within seven days.

Apart from ejecting the herdsmen, the governor also banned underage grazing, night grazing, and movement of cattle within the cities and on highways.

He had said, "Today, we have taken major steps at addressing the root cause of kidnapping, in particular, and other nefarious activities detailed and documented in security reports, the press, and debriefings from victims of kidnap cases in Ondo State.

"As the chief law and security officer of the state, it is my constitutional obligation to do everything lawful to protect the lives and property of all residents of the state. In light of the foregoing, the following orders are hereby issued: All forest reserves in the state are to be vacated by herdsmen within the next seven days with effect from today, Monday, January 18, 2021."

The issue generated an uproar and after a meeting with different stakeholders, Akeredolu asked herdsmen to register with the government so that they can operate unhindered in the forest reserves.

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The Gofundme page set up by supporters of Yoruba freedom fighter, Sunday Adeyemo, popularly known as Sunday Igboho, for the purpose of raising £100,000 (N51.8m) for him to buy buses, has garnered over N13 million (£24, 926).

The fundraiser, initiated by Maureen Badejo, a blogger and activist based in the United Kingdom, was to support Igboho's quest of ridding the South-West of killer herdsmen.

Igboho had earlier requested for buses to aid in transporting his men from one place to another, during a virtual town hall meeting on Wednesday.

“I need buses to transport people. The three vans we use were bought by me. We lost three buses that were hired on our way to Oyo," he had said.

A visit to the Gofundme page showed that the page already had over 742 donations from persons of Yoruba extractions.

Oluwatobi Adedeji, who donated £100, wrote, “I stand for freedom and liberation of the oppressed. We must all come together to fight the oppressors both from within and outside in whatever way possible.”

Emmanuel Akanbi, who donated £100, wrote, “I am not happy with the way Fulani are killing, raping, kidnapping and destroying our farmland in Yoruba land and God has heard our cry and weeping of Yoruba from heaven that is where He has raised Chief Sunday Igboho to fight for justice, the poor and voiceless Yoruba nation.”

"I want the ongoing project to be successful. I want to support the service of Sunday Igboho. Let’s make Yoruba great again Stop killing! Stop kidnapping my people,” Babatunde Owofade wrote after donating £50.

Kikelomo Polk, who donated £350, commented, "The revolution for a better Nigeria has started, and we must fight to the finish. Put your money where your mouth is."

The spotlight has continued to beam on Igboho since he issued a seven-day ultimatum to herders in the Ibarapa area of Oyo state, blaming them for kidnapping, killings, destruction of farmlands and insecurity in the state.

After confronting the herders in Ibarapa with some youths in the area at the expiration of the ultimatum, he moved to Ogun State on Monday and was received by thousands of youths.

According to him, the fight to liberate the Yoruba and bring lasting peace is not for the police but for all Yoruba people, irrespective of where they are all over the world.

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Nigerians have condemned the directive by the Central Bank of Nigeria to commercial banks and all non-banking financial institutions, banning transactions involving cryptocurrencies.

The CBN gave the directive in a statement on Friday, stressing that all the institutions should close accounts of customers with cryptocurrency transactions with immediate effect.

“The Central Bank of Nigeria’s (CBN) circular of January 12, 2017 ref: FPR/DIR/GEN/CIR/06/010 which cautioned Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFIs), Other Financial Institutions (OFIs) and members of the public on the risk associated with transactions in cryptocurrency refers,” CBN said.

“Further to earlier regulatory directives on the subject, the bank hereby wishes to remind regulated institutions that dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited. See Also Business CBN Bans Banks, Other Financial Institutions From Dealing In Cryptocurrency 0 Comments 6 Hours Ago

“Accordingly, all DMBs, NBFIs and OFIs are directed to identify persons and/or entities transacting in or operating cryptocurrency exchanges within their systems and ensure that such accounts are closed immediately.”

The apex bank added that any breach of the directive will attract severe regulatory sanctions.

However, the development has been criticised by many Nigerians, some of whom took to social media to express their displeasure.

For instance, Senator Ben Murray Bruce criticised the apex bank’s decision, saying, “I thought it’s universal knowledge that decisions or policy regarding finance or economy should never be hasty?”

Also, human rights activist, Segun Awosanya, popularly called Segalink, described the CBN’s action as foolhardy, saying, “This is yet another developing horror story in our dying society. The govt via @cenbank is now shutting down cryptocurrency in a desperate move to block any ray of hope for the huge youth demographic they have largely failed. This won’t end well. This is ill-advised.”

Blogger, Japhet Omojuwa, said, “Individuals that can fund the entire Nigerian budget for donkey years are betting on Bitcoin but Hassan and Musa are afraid it could make Nigerians wealthy. Welcome to the Dark Age! Others are in the Age of Deep Learning. We are in The Age of Deep Poverty.”

But the decision was hailed by a former presidential aspirant, Adamu Garba, who said, “With the banning of crypto transactions, I believe the CBN is taking proactive measures to protect Nigerians from fraudsters who deceive ordinary citizens & rid them of their earnings. Crypto traders are supposed to be regularised so that they can be tracked in the event of cheats.”

In December 2020, Quartz Africa reported that Nigeria was number two in the global Bitcoin market after trading 60,215 Bitcoins in the last five years.

Nigeria moved to that spot in the market after young citizens who were barred from local payment methods by the government opted for Bitcoin to fund the October 2020 #EndSARS protests against police brutality and bad governance in the country.

DJ Switch, who partook in the #EndSARS protest, expressed her disappointment at the CBN directive, saying, “If the ban on crypto by CBN is true, it points yet again to the ill-informed, backward, poverty promoting dinosaurs T-Rex leading us. Use your time to investigate and close accounts sponsoring terrorists in the country if you don’t know what to do!”

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