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Fights for N/Assembly Leadership Tear APC Apart

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A meeting of Prof. Yemi Osinbajo, Vice President, with elected lawmakers to reconcile aggrieved members over the leadership of the National Assembly has failed to broker a truce, suggesting that crisis may brewing in the All Progressives Congress (APC) which wrested majority in both the Senate and the House of Representatives at the last general elections.

According to reports, the meeting which was initially meant to broker peace between the aggrieved legislators over the choice of Ahmed Lawan as Senate and Rep Femi Gbajabiamila was chaired by Chief John Oyegun, party’s chairman instead of Prof. Osinbajo.

The meeting yielded little success, as opposition to its anointed candidates for the Senate president, Senator Ahmad Lawan and speaker of the House of Representatives, Honourable Femi Gbajabiamila, remained resolute in the decision to confront the party’s stance on the floor of the two chambers today.

The inauguration of the eighth National Assembly expected to produce the principal officers as the majority party, could spring some surprises as Senator Bukola Saraki and Honourable Yakubu Dogara insisted they were still in the race for Senate president and speaker, House of Representatives respectively.

Dogara, on Monday, boasted that he was confident of trumping the party’s candidate, Gbajabiamila.

As the meeting was about to begin, a source close to Dogara sent a statement that all legislators loyal to the Bauchi member should not attend as there was a plan to arrest and detain them, thereby shutting them out until after the election.

The message reads: “Information reaching us indicates that this purported meeting is a ploy to arrest and detain members until after tomorrow’s election. Members should therefore disregard the invitation.”

Insiders hinted yesterday that neither Osinbajo nor the aggrieved members attended the meeting following the text message circulated by a highly placed supporter of Dagara that there were plans to arrest them and detain them until today’s election was conducted.

The lawmakers who had converged for the meeting left the venue at about 7pm when it was obvious that the Vice President will not make it to the venue.

The party members, excluding the Saraki and Dogara groups, insisted that all the party members should rally round their agreed candidates.

However, a source told our correspondent that, “We have discovered that it is the PDP that is trying to split our party.”

Rep Parry Iriase (APC Edo), representing Owan Federal constituency told journalists that they had to leave because they still had a lot of things to tidy up before the inauguration of the House on Tuesday.

Iriase said the legislators have already met and conducted a mock election, pointing out that aim of the meeting was ensure that the party got the Assembly united.

He said, “We have met at various levels and we have been meeting. The essence of this meeting was for the Vice President to address all the lawmakers, including those who are not happy with the mock elections.

“For those of us in the House of Representatives, we believe that out of the about 209 elected APC members, we have over 70 percent of them, on our side and we are confident that when we get to the House, we will muster enough members to get the position of Speaker”.

“Nigerians should expect a united APC at the end of tomorrow because we are a family and we believe that this is democracy in action. We are confident that things will work out well”, he said.

Asked why they were dispersing before the arrival of the Vice President, he said, “We were told that the Vice President was coming to address us. But we have waited and he is not here. We are told he is airborne and that he will come. But we have other things we need to iron out before tomorrow. So had to leave.

Meanwhile, the National Working Committee meeting of the APC has ordered all its Senators and members of the House of Representatives to vote for Ahmed Lawan as Senate and Rep Femi Gbajabiamila as Speaker, in today’s election.

Oyegun, had appealed to the APC members in the National Assembly to respect the decision the party took in selecting the persons that will be presented to the National Assembly as presiding officers.

Addressing journalists in his office yesterday, Oyegun said all what the party did was to provide the platform for all elected members of the party only where they themselves took in selecting the persons that will be presented to the National Assembly as presiding officers.

His words ,”I want to appeal to APC members of the National Assembly, both Senate and the House of Representatives to please respect the party, the views of the party and the decision that they themselves took in selecting the persons that will be presented to the National Assembly as presiding officers.”

But APC governors headed by Governor Rochas Okorocha of Imo state slated a meeting for yesterday as part of desperate move to broker truce among the aggrieved party members.

The meeting which held at the Imo state government lodge,Asokoro had in attendance the Governor of Benue State, Samuel Ortom and his Kebbi State counterpart, Senator Atiku Bagudu,

Both governors were however, seen driving out of the venue late yesterday night. There were speculations that the meeting did not hold because of lack of quorum. But there were speculations too that the meeting had been moved to an unknown destination.


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Banks Close 2m Accounts over BVN, NIN, Others

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Commercial banks in Nigeria closed 2.021 million bank accounts in the first quarter of 2024, Q1’24, to clean their books of questionable accounts and comply with regulatory orders on the linkage of bank accounts to the National Identity Number (NIN).

Banks Close 2m Accounts over BVN, NIN, Others

This is contained in a report by the Nigerian Interbank Settlement System (NIBSS), which also indicated that the number of inactive bank accounts grew month-on-month, MoM, by four million or 2.0 per cent to 19.7 million in March 2024 from 19.3 million in the previous month, February.

A bank account is classified inactive when it records zero transactions including deposits, withdrawals, transfers or point-of-sale transactions for six months.

However, details of the “Industry Bank Account Database”, a monthly data reported by banks, and compiled by the Nigerian Interbank Settlement System, NIBSS, also indicated that the number of active bank accounts grew by 6.62 million or 3.0 per cent to 219.64 million from 213.02 million in February.

Recall that in December 2023, the CBN issued a directive to all commercial banks in the country to restrict tier-1 accounts without proper Biometric Verification Number (BVN), and National Identity Number, NIN, that are not linked by Thursday, March 1st, 2024.

According to NIBSS data on BVN enrollment count, 61.6 million Nigerians have BVN as of April 2024.

 

Credit: Vanguard

 

 


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Dubai-Based Citizenship Firm Imperial Citizenship Expands to Lagos, Targets Africa’s Growing Wealth

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Imperial Citizenship, a Dubai-based firm specialising in Citizenship and Residency by Investment (CRBI) solutions, has set its sights on Africa’s burgeoning wealth with the launch of a new office in Lagos, Nigeria.

This strategic move positions Imperial Citizenship to capitalise on the continent’s growing population of high net worth individuals (HNWIs) seeking international investment and mobility options.

Imperial Citizenship boasts a proven track record of success, having secured over 2,000 approvals for clients seeking alternative citizenship and residency pathways. Their partnerships with over 15 governments worldwide provide a diverse portfolio of investment opportunities that adhere to strict international regulations.

With its Lagos launch, Imperial Citizenship begins its foray into Africa. The continent boasts a burgeoning HNWI population, according to PwC, presenting a lucrative market for investment firms like Imperial Citizenship.

According to the World Bank, African economies are projected to grow by 3.4 % in 2024 as the African Development Bank Africa has reported that Africa will account for eleven of the world’s 20 fastest-growing economies in 2024. Highlighting the market’s potential, Mr. Zaid Al Hindi, Founder and CEO of Imperial Citizenship, says, “our expansion into Lagos allows us to directly cater to this affluent segment, offering them strategic solutions for global asset diversification, optimised investment opportunities, and enhanced global mobility.”

“At Imperial Citizenship, we do not operate through intermediaries, as we differentiate ourselves through direct government partnerships. This ensures transparency, legality, and efficiency throughout the application process, providing peace of mind for investment-minded clients” Zaid stated during the launch event in Lagos.

Speaking on the company’s approach to CRBI, Zaid mentioned, “At Imperial Citizenship, we prioritise a client-centric approach. We go beyond simply offering programs; we provide dedicated advisors who understand the unique needs and aspirations of each client. This personalised service ensures clients receive tailored investment options that align with their financial goals and risk tolerance”.

The launch of the Lagos office underscores Imperial Citizenship’s commitment to global expansion. With physical offices in Dubai and now Nigeria as well as operational representatives in Mexico, Algeria, and Turkey, Imperial Citizenship demonstrates its ability to cater to a geographically diverse clientele.

Looking ahead, Zaid highlighted that Imperial Citizenship plans to broaden its service offerings and expand its reach into new markets. By strategically targeting Africa’s rising wealth, Imperial Citizenship is well-positioned to solidify its role as a leading player in the CRBI industry, offering investors a gateway to global opportunities.


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234Finance Moves to Boost Economic Progress in South East

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In a recent gathering, organized by 234Finance, key stakeholders and HNIs came together to discuss the theme “Fueling Progress in the South East.”

The conversation highlighted the rich heritage, entrepreneurial spirit, opportunities for growth and the potential of the South East to be economic powerhouse.

During the discussion, the Managing Partner of 234Finance, Ezinne Nwazulu unveiled plans for an upcoming event of significant impact: the 4-week intensive SME Bootcamp and Mentor Matchup Challenge South East edition designed to empower SMEs. The program aims to empower SMEs with the knowledge, tools, and capital for rapid expansion and global competitiveness.

This initiative is building on the success of previous Mentor Matchup Challenge events, which equipped SMEs with actionable strategies and one-on-one mentorship, resulting in winners of the pitching competition securing grant funding to scale their businesses by 4x-10x.

The SME Bootcamp will feature an array of activities, including physical and virtual training sessions, onsite industrial training, and a pitching competition.

Ezinne Nwazulu emphasized the rigorous selection process, where the top 100 applicants meeting the criteria will undergo intensive training at two training centres in Abia and Anambra. From there, the most promising 15 participants will have the opportunity to pitch their business for grant funding.

Dr Chima Anyaso, Chairman of Caades Group, expressed his commitment to the region’s development and encouraged entrepreneurs with innovative crafts to seize this opportunity.

Criteria for selection are uncompromising, emphasizing technical expertise in core sectors; Agribusiness, Manufacturing, Supply Chain & Logistics, Fashion & Textile, and Retail, with a particular focus on businesses operating within the South-East region for at least three years and significant growth potential of 4x-10x.

The Bootcamp is set to commence from May 14 to June 14 2024 with Southeast-based entrepreneurs encouraged to visit the 234finance bootcamp to apply.


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