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#YorubExit: No Inch Of Yoruba Land Will Be Ceded To The Fulani Republic Of Nigeria’s Creditors – AFENIFERE

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THE pan-Yoruba sociopolitical group, Afenifere, on Friday declared that no inch of Yoruba land will be ceded to creditors of the Fulani Government of Nigeria should there be reasons for its creditors to make such demands.

Afenifere was reacting to reports that the Fulani Government had signed an agreement with the Chinese government, which contains a clause that compels Nigeria to waive its immunity for itself or its property in case of a breach of the agreement.

In a statement by its spokesman, Mr Yinka Odumakin, Afenifere described the disclosure that a clause in a loan agreement signed by the President Muhammadu Buhari-led government ceded the sovereignty of Nigeria and its assets if the nation defaults in payment as worrisome.

Odumakin said: “The Yoruba nation will not allow an inch of its land to be taken over by any foreign interest to which any government that is loan-crazy must have concessioned the sovereignty.

We are not aware of any such authority given to any government to do such. “Let lenders beware so they don’t give loans beyond what any regime can repay in its tenure.”

The controversial clause in the agreement says: “The borrower hereby irrevocably waives any immunity on the grounds of sovereign or otherwise for ITSELF or its property in connection with any arbitration proceeding pursuant to Article 8(5), thereof with the enforcement of any arbitral award pursuant thereto, except for the military assets and diplomatic assets.”


SOURCE: Tribune Newspapers.

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CBN Pegs Minimum Capital Base For Banks At N500bn, N200bn

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The Central Bank of Nigeria (CBN) has unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at ₦500 billion.

A circular signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa, to all commercial, merchant, and non-interest banks and promoters of proposed banks emphasised that all banks are required to meet the minimum capital requirement within 24 months commencing from April 1, 2024, and terminating on March 31, 2026.

CBN spokesperson, Hakama Sidi Ali, confirmed the development in Abuja on Thursday.

According to Ali, the new minimum capital base for commercial banks with national authorisation is now ₦200 billion, while the new requirement for those with regional authorisation is ₦50 billion.

The apex bank also disclosed that the new minimum capital for merchant banks would be ₦50 billion, while the new requirements for non-interest banks with national and regional authorisations are ₦20 billion and ₦10 billion, respectively.

The announcement comes just days after CBN Governor, Olayemi Cardoso, urged deposit money banks to expedite action on the recapitalisation of their capital base in order to strengthen the financial system.

Last November, Cardoso, who assumed office two months earlier, had said commercial banks in the country would be directed to increase their capital base to service a $1 trillion economy ambition of the President Bola Tinubu administration.

The last time the CBN increased capital base for banks was in 2005, when the current Anambra State Governor, Charles Soludo, was the apex bank chief. Capital base was raised from ₦2bn to ₦25bn.

 

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Okuama Massacre: Military May Place Bounty On Monarch, Others Declared Wanted

“We will do whatever it takes to get these people, even if it means we place a bounty on them, we will do that.”

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The Nigerian Defence Headquarters, DHQ, has revealed plans to place a bounty on those declared wanted over the killing of 17 soldiers in Okuama community, Delta State.

The Director of Defence Media Operations, Major General Buba Edward said the military was fully committed to apprehending all individuals who have been declared wanted.

In a statement, Edward said: “We will do whatever it takes to get these people, even if it means we place a bounty on them, we will do that.”

On March 14, the troops of 181 Amphibious Battalion, Bomadi Local Government Area of Delta State, while on a peace mission to Okuama Community, were ambushed and killed by some irate youths.

The deceased soldiers were buried at the Military Cemetery in Abuja on Wednesday.

Shortly after their burial, the Military declared eight people, including a woman, wanted.

The suspects include: Prof. Ekpekpo Arthur, Andaowei Dennis Bakriri, Akevwru Daniel Omotegbo (a.k.a Amagben), Akata Malawa David, Sinclear Oliki, Clement Ikolo Ogenerukeywe, Reuben Baru, and Igoli Ebi.

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Soldiers’ Killing: Wanted Delta Monarch Turns Self In

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Ikolo Clement, King of Ewu kingdom and one of the suspects declared wanted by the Nigerian military, has surrendered himself to the authorities.

Clement, a newly installed traditional ruler of Ewu Kingdom in Ughelli South Local Government Area, Delta State, was among the eight persons declared wanted by the Nigerian Army Defence Headquarters.

They were wanted over the March 14 killing of 17 soldiers at Okuama Community.

Also declared wanted is a suspected militant leader, Akevwru Daniel Omotegbono, also known as Amagbein, who soldiers tracked to the Igbomoturu community in Southern-Ijaw Local Government Area, Bayelsa State, few days after the incident, but missed him.

On the list of wanted persons are the president-general of Ewu, Prof Ekpekpo Arthur and Reuben Baru, the young man who made a viral video recently, narrating why they killed the soldiers.

Igoli Ebi, is supposedly the mother of one of the wanted persons. Atata Malaw David, and Sinclear Oliki are suspected to be part of the Amagbein gang.

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