#Opeyemi Bamidele

[accuratenewsng]

Proposed Naira redesign: Finance Minister disowns policy, warns CBN

Proposed Naira redesign: Finance Minister disowns policy, warns CBN

Few hours after the announcement of Naira redesign by the Central Bank of Nigeria (CBN), the Minister of Finance, Budget and National Planning, Zainab Ahmad, has disowned the policy. The Minister who commented on the policy in response to question raised by Senator Opeyemi Bamidele (APC Ekiti Central) during 2023 budget defence session she had with the Senate Committee on Finance, warned CBN of…

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Petroleum Sector Probe: Senate Postpones Public Hearing Indefinitely

The Senate ad hoc committee, established to investigate alleged economic sabotage in Nigeria’s petroleum industry, has indefinitely postponed its public hearing originally scheduled for September 10 to 12. The decision was announced late Sunday by the committee’s chair, Senator Opeyemi Bamidele (APC, Ekiti Central). The committee, a 15-member panel inaugurated on July 22, 2024, was tasked with…

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Former Vice President Atiku Abubakar has sharply criticized President Bola Tinubu, claiming that the future of Nigeria has been effectively mortgaged to Tinubu, his family, and close associates.   In a statement released on Wednesday by his Media Adviser, Paul Ibe, Atiku expressed deep concern over what he describes as a "government of Tinubu, by Tinubu, and for Tinubu.   Read Also : NAF Strikes Kill Five Terrorist Commanders, 35 Fighters In Borno   Allegations of Power Consolidation Atiku, who was a presidential candidate for the Peoples Democratic Party (PDP), drew parallels between Tinubu's alleged use of proxies in Lagos—such as Alpha Beta and Primero—and his current efforts to replicate this model at the federal level.   Pay Attention To: Three Cases Of Monkeypox Recorded In Edo   He argued that just as these entities manage critical sectors in Lagos and generate revenue for Tinubu's family, similar patterns are emerging in federal operations.   Specifically, Atiku pointed to the Nigerian National Petroleum Company Limited (NNPCL), expressing surprise and concern over its recent activities.   He highlighted how the state-owned oil company has handed over its retail arm to OVH, a company partially owned by Oando, which is led by Wale Tinubu, a relative of the President. Breaking: FG Increases International Passport Fees by over 42 %   Atiku contended that this move signals a broader attempt to entrench Tinubu’s business interests within federal institutions.   Concerns Over NNPCL's Operations. Atiku lamented that his own plans to privatize the NNPC, aimed at increasing transparency, have been overshadowed by what he called a "criminal hijack" of the company by corporate allies close to President Tinubu. He noted that in October 2022, just five months before the general elections, NNPC Retail controversially acquired OVH and its filling stations, despite already having a substantial network of its own.   The former Vice President criticized the lack of transparency in this deal, pointing out that the NNPCL did not disclose the purchase price or terms of the acquisition. When a Freedom of Information request was made by Premium Times to shed light on the transaction, it was rejected by the NNPCL, which claimed to operate as a private entity despite being government-owned.   Allegations of Abuse of Office Atiku also took aim at the current leadership of the NNPCL, particularly the retention of Mele Kyari as the Group Managing Director (GMD) despite his perceived incompetence. He further criticized Tinubu’s appointment of Pius Akinyelure, a former ally and colleague at Mobil, as NNPC Chairman, while also taking on the role of Minister of Petroleum himself.   In a move that Atiku described as defying economic logic, OVH—previously under the control of NNPC Retail—has now acquired NNPC Retail. This arrangement, he argued, effectively means that Oando, led by Wale Tinubu, now owns 49% of NNPC Retail. Atiku alleged that Nigeria paid Wale Tinubu a significant amount to facilitate this transfer of ownership, calling it a clear abuse of office by President Tinubu.   Legislative Investigation and Skepticism While acknowledging that the NNPCL and its leadership are under legislative investigation, Atiku expressed doubt about the credibility of the process, given the vested interests of those involved. He specifically mentioned Senator Opeyemi Bamidele, who is leading the National Assembly panel, noting Bamidele's close ties to President Tinubu, whom he served under as a commissioner in Lagos State.   Atiku questioned whether Bamidele would conduct a thorough investigation that could potentially implicate his "patron," given Tinubu’s dual role as both the Petroleum Minister and the President.   Concerns Over Lagos-Calabar Coastal Highway Project The former Vice President also addressed the recent controversy surrounding the Lagos-Calabar Coastal Highway project, which has come under litigation. He recalled that

the Organized Crime and Corruption Reporting Project (OCCRP), a global investigative journalism network, revealed a close relationship between Seyi Tinubu, the President's son, and Gilbert Chagoury, the contractor awarded the project without competitive bidding.   Atiku pointed to this relationship as a clear conflict of interest, arguing that the approval of such massive projects—like the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Coastal Highway, which together will cost over $24 billion—without open bidding processes, highlights the extent to which President Tinubu allegedly prioritizes personal gain over national interest.

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There’s a media attack on me, NNPC, says Mele Kyari

Mele Kyari, group chief executive officer (GCEO) of Nigerian National Petroleum Company (NNPC) Limited, says there is a targeted media attack on him and the company. Kyari spoke when he appeared before an ad hoc senate committee on August 7. The committee, led by Opeyemi Bamidele, the senate majority leader, is probing the alleged importation of substandard petroleum products into the…

[mynewshq]

NNPCL to Senate: We‘re not criminals, oil and gas industry bleeding

THE Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari has said that the organisation has nothing to do with substandard importation of petroleum products into the country, just as he stressed that they are not Criminals or thieves and also not fighting or persecuting anyone. Speaking in Abuja on Wednesday when he appeared before the Senator Opeyemi Bamidele, APC, Ekiti Central led Senate Ad- hoc Committee to Investigate the alleged Economic sabotage in the Nigerian Petroleum Industry with some critical stakeholders in the Petroleum Industry, Kyari said that as an organization, they don’t lie, they are not criminals or thieves, not fighting or persecuting anyone, not sabotaging anyone or organisation, the oil and gas industry is bleeding. According to him, as the GCEO of the company, he has faced undue media attacks from persons doing everything to create the impression that NNPCL is sabotaging the nation’s economy adding that the oil and gas industry is bleeding and that there are things he knew but could not talk about in public until “the time comes. “The company is faithful and will not lie to the country. He says ‘We are not criminals and we are not thieves. We will protect our dignity so we can serve this country. Kyari said, “It is our duty to protect the overall interest of this country by the provisions of the law, Mr. Chairman. The Petroleum Industry Act, the Company and Allied Matters Act, and other enabling regulations and laws that govern the activity of the oil and gas industry. Mr. Chairman, we are not in breach of any one of them. “Mr. Chairman, the NNPCL is a company owned by over 200 million Nigerians. And I happen to be the Chief Executive Officer of this company. And the law is clear around what the chief executive of this company will do. “Our memorandum article of association, the Petroleum Industry Act, and all other enabling, including CAMA, which was legislated by this Honourable National Assembly. We are clear that the board and management of NNPCL must maximise value for this company, Mr. Chairman. This company cannot have negative profits for three years. “CAMA says you can shut it down. Mr. Chairman, it is our job to protect this company. But it is also our job to protect other businesses around us. This company has grown, Mr. Chairman. We are proud to say this. From a lost company for 43 years to a profit-making company today, Mr. Chairman. Everybody believes, by sheer misinformation which my Minister has highlighted, that NNPCL is responsible for creating any economic sabotage in our country. “Mr. Chairman, refining business is straight business. You must secure your feedstock and you must secure a market. This is basic even for NMPC refiners, we have done nothing to sabotage any domestic refinery. Any one of them. There are many of them. Read the full article

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NNPC CEO: Oil Industry Crisis, Mele Kyari Denies Theft Claims

Mele Kyari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum corporate (NNPC) Limited, claims that corporate workers have nothing to do with the country’s inferior petroleum product imports. He testified in Abuja on Wednesday before an Ad-hoc Committee chaired by Senator Opeyemi Bamidele regarding suspected economic sabotage in the petroleum industry. Kyari stated that…

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The Nigerian Senate on Wednesday passed for second reading, an amendment to the 2024 Appropriation Act to the tune of N6.2 trillion for capital and recurrent expenditure for the 2024 fiscal year. The amended bill was presented to the Senate by Senator Michael Bamidele Opeyemi, indicating that the sum of N3.2 trillion is for capital […]

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Budget Padding: Some Senators Planning To Impeach Akpabio Before July- Sen. Bamidele

The Majority Leader of the Senate, Opeyemi Bamidele has said that some senators are planning to impeach Senate President Godswill Akpabio before July 2024. Bamidele spoke on Tuesday during the debate on the claim made by Abdul Ningi, senator representing Bauchi central, that the 2024 budget was padded by N3 trillion. At the weekend, Ningi stirred controversy when he made the allegation and said a…

[crimechannels]

By • Olalekan Fagbade Senate confirms Halima Shehu as National Coordinator, NSIPA The Senate at plenary on Wednesday confirmed the appointment of Mrs Halima Shehu as the National Coordinator and Chief Executive Officer of the National Social Investment Programme Agency(NSIPA). Her confirmation followed the approval of a motion by Senate Majority Leader, Sen. Opeyemi Bamidele (APC-Ekiti) at the Committee of the Whole. Before her confirmation, the Senate suspended its rule to allow the admittance of the nominee and other guest into the chamber. The Senior Special Assistant to the President on National Assembly Matters (Senate), Sen. Abdullahi Gumel led the nominee into the chamber. Thereafter, the nominee gave highlight of her career profiles and professional experiences. Shehu said she hold a Bachelor of Arts degree in English and a Masters degree in International Affairs and a Diplomacy from Ahmadu Bello University, Zaria. She said that she had over 10 years’ experience in banking industry, heading several units in the banking operations. She began her career as a National Youth Corps Service(NYSC) member at Afri-Project Consortium, a project under the Petroleum Trust Fund (PTF). She served from 1999 to 2009 at the former InterCity Bank (ICB) Plc where she was an Audit and Internal Control Officer to Unity Bank Plc, while heading the Customer Service, Cash, Clearing and Funds Transfer Unit. She also worked with Access Bank where she resigned as a Branch Services Operations Manager. Shehu was at a time, a member of the Board of Internal Revenue and was appointed as the Senior Special Assistant to the Executive Governor of Katsina State, from 2011 through 2015. In 2016, she made a significant commitment to her role in regional diplomacy and democratic processes by becoming an esteemed member of the Electoral Commission of the Economic Community of West African States (ECOWAS) for Presidential Election observation at Cape Verde Island. “I worked closely with the pioneer Minister of Humanitarian Affairs, Disaster Management and Social Development as a Consultant and Technical Adviser. “I also held the position of the National Programme Co-ordinator for the National Cash Transfer Office, a World Bank and Government Funded Programme by the Abacha Resituated Funds (ARF),” she said. Shehu, while responding to questions, commended the Senate for the legal framework establishing the social investment programme agency. She said the agency would ensure seamless implementation of the various aspects of the programme. “The agency under my watch, with other stakeholders, will ensure transparency in the implementation of the programmes and in the selection of vulnerable Nigerians across the country. “There will be full and logical implementation of the programmes for better attainment of the goals and objectives of the agency,” Shehu said. (NAN) (www.nannews.ng)

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Senate Initiates Amendments to Transfer NSIPA from the Ministry of Humanitarian Affairs to the Presidency

Senate Initiates Amendments to Transfer NSIPA from the Ministry of Humanitarian Affairs to the Presidency Introduction In a significant move, the Nigerian Senate has set in motion the process of amending the National Social Investment Programme Agency (NSIPA) Act of 2023. Spearheaded by Senator Opeyemi Bamidele, this legislative effort aims to relocate the agency from the Ministry of Humanitarian…

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Senate moves to return National Social Investment Programme Agency to Presidency

The Senate, on Tuesday, embarked on amendment of National Social Investment Programme Agency Act (NSIPA), 2023 aimed at moving the agency from Ministry of Humanitarian Affairs and Poverty Alleviation to the Presidency. The Leader of the Senate, Senator Opeyemi Bamidele, initiated the bill at the plenary on Tuesday, seeking to amend the National Social Investment Programme Agency Act, 2023. Specifically, according to Bamidele, the bill seeks to amend Sections 9(3), 14(1), 21(1), 22(1), 26(1) and 33 of the NSIPA Act, 2023 by transferring the agency from the Ministry of Humanitarian Affairs and Poverty Alleviation to the Presidency. The senate leader added that the bill “will now be directly under the direct supervision of the President.” He further explained its significance to poverty alleviation and social inclusion, saying the plan to amend the NSIPA Act, 2023 “is to ensure that the social investment programme are standard, transparent, effective and accountable.” He explained that the amendment “is a result of the commitment of the Renewed Hope mantra of President Bola Tinubu in ensuring that social investment programme are standard, transparent, effective and accountable structure of delivery, adequate coordination and synergy among key government agencies.” The senate leader noted that the amendment “is in fulfilment of section 17(3) of the Constitution of the Federal Republic of Nigeria, 1999.” Under the section, the state shall direct its policy towards ensuring that all citizens, without discrimination on any group whatsoever, have the opportunity for securing adequate means of livelihood as well as adequate opportunities to secure suitable employment, among others. Bamidele explained that with this amendment a wide range of Sustainable Development Goals (SDGs) including poverty reduction, education, health, social inclusion and empowerment could be achieved through the NSIPA Also, at the plenary, former President of the Senate, Ahmed Lawan, pointed out that the 9th senate passed the bill, though its implementation was flawed because those who should be given support are those in rural areas difficult to reach. Lawan, currently representing Yobe North, said: “In achieving social inclusion, funds were distributed, and the beneficiaries have no bank accounts. After passing this, it is time we must participate fully to ensure the capturing of the beneficiaries that need the support in such a way the National Assembly is satisfied.” He further explained that the National Assembly “should be to be part of the process, but that was not done. The support was sent to each state of the federation. All senators were onlookers, which is unacceptable.” While contributing to the debate, Senator Seriake Dickson urged the lawmakers to use the opportunity to look at other issues raised during its implementation under the administration of former President Muhammadu Buhari. Dickson, currently representing Bayelsa, explained that the amendment should include the mode of selecting the beneficiaries of the programme. He said the previous government had initiatives like TraderMoni and COVID palliatives without parliamentary approval and that recommendations should be made at the committee level. After the deliberation, the senate president expeditiously referred the bill to the committee of the whole for consideration on Wednesday to allow distinguished senators go through the bill clause by clause. While NSIPA Act was enacted May 2023 to address socio-economic inequalities and alleviate poverty among Nigerians, NSIP was created in 2016 under the administration of former President Muhammadu. The programme was founded on four pillars namely N-POWER Programme, Government Enterprise and Empowerment Programme, National Home-Grown School Feeding Programme and the Conditional Cash Transfer Programme. Each of the pillars was designed to empower the poorest and most vulnerable Nigerians to attain an acceptable standard of living irrespective of their locations nationwide. Read the full article

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7 Key Facts About Late Gospel Singer Aduke Gold.   The gospel music world is in mourning following the tragic death of Aduke Gold, a talented and passionate gospel singer. Known for her inspiring music and remarkable life story, Aduke Gold's passing comes shortly after the death of fellow gospel artist Egbin Orun. Here are seven significant facts about her life and career: 1. Musical Rise Despite the competitive nature of the gospel music industry, Aduke Gold carved out a niche for herself with her uplifting songs. Her breakout single, “Nitori Ogo” (translated as “Because of Glory”), quickly gained her a dedicated fanbase and marked her as a rising star in gospel music. 2. Early Hardships Orphaned at the tender age of four, Aduke Gold faced significant challenges from an early age. Her childhood was marked by struggles, including hawking goods to support herself. Additionally, she battled vertigo, which caused frequent fainting spells and further complicated her early years. Despite these obstacles, her passion for music remained undeterred.   Aduke Gold: Popular Nigerian gospel singer Ajayi is dead (Photo) 3. Educational Accomplishments Aduke Gold’s academic achievements were as impressive as her musical career. She earned a degree in History and International Relations from Lagos State University, supported by a scholarship from Hon. Opeyemi Bamidele. Her pursuit of knowledge did not stop there; she also obtained a higher degree in Child Psychology and various diplomas in fields such as Montessori education, special education, and music. 4. Health Struggles Throughout her life, Aduke Gold struggled with health issues, notably vertigo. This condition, which caused frequent fainting spells, was a persistent challenge that she faced while pursuing her music career. Her ability to continue performing despite these difficulties speaks to her dedication and resilience. 5. Name Change Aduke Gold initially performed under the name Aduke Penkele as a child artist. However, she later adopted the stage name Aduke Gold, a change recommended by her mentor, Tope Alabi. This new name marked a significant step in her professional journey. 6. Passion for Education In addition to her music career, Aduke Gold was deeply committed to education. She had a strong passion for teaching young children and worked effectively with those who had special needs, including autism and dyslexia. Her contributions to education extended beyond her musical endeavors. 7. Musical Breakthrough Aduke Gold's rise to prominence was significantly influenced by her live performances. Her memorable live performance at the first remembrance of the late gospel artist Baba Ara was a key moment that elevated her status in the gospel music industry. 8. Mentors and Influences Aduke Gold drew inspiration from a diverse range of figures in both gospel and secular music. Her role models included gospel legends such as D.A Fasoyin, The Ayo ni C&S Choir, and Tope Alabi, as well as secular musicians like King Sunny Ade and Ebenezer Obe. Their influence played a crucial role in shaping her musical career. Aduke Gold's legacy is marked by her resilience, dedication to music, and commitment to education. Her passing is a significant loss to the gospel music community, but her contributions will be remembered and celebrated by many.

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60% of our crude Oil supplied by NNPC, says Dangote refinery

The Dangote refinery says since it commenced full operations, it has processed 50 million barrels of crude with 60 percent of its feedstock coming from the Nigerian National Petroleum Company (NNPC) Limited. Aliyu Suleiman, the group chief strategy officer of Dangote refinery, spoke when he appeared before an ad hoc senate committee on August 7. The committee, led by Opeyemi Bamidele, the senate…

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By Funmilayo Olusanya Mrs. Zainab Ahmed, the minister of finance, budget, and national planning, has claimed she was unaware of the Central Bank of Nigeria's (CBN) recent decision to redesign some naira notes. Just 48 hours earlier, CBN Governor Godwin Emefiele had declared that the redesigned notes would be accepted as legal tender starting on December 15, 2022. At that time, she spoke. The Minister warned the CBN of potential repercussions when he discussed the idea in answer to a query from Senator Opeyemi Bamidele (APC - Ekiti Central) during a 2023 budget defense session with the Senate Committee on Finance. Bamidele in his question told the Finance Minister that barely two days after CBN announced the policy, repercussions of it on the value of the Naira to the US dollar were being felt. “Just two days after the announcement of the policy, the value of the Naira to a US dollar has risen from N740 to N788 to a US dollar due to the rush in exchange of stashed Naira notes for foreign currencies, particularly the U.S. dollar. Read Also >> EFCC says it will arrest votes’ buyers at elections “To me, the policy may be a well-conceived one, but the timing going by the realities on the ground, is very wrong as the Naira may fall to as low as N1,000 to a US dollar before January 31, 2023, fixed for full implementation of the policy,” he said. Surprisingly, the Minister in her response said she and her Ministry, were not aware of the policy but only heard about it from the media. “Distinguished Senators, we were not consulted at the Ministry of Finance by CBN on the planned Naira redesigning and cannot comment on it as regards merits or otherwise. “However as a Nigerian privileged to be at the top of Nigeria’s fiscal management, the policy as rolled out at this time portends serious consequences on the value of the Naira to other foreign currencies. “I will however appeal to this committee to invite the CBN Governor for required explanations as regards merits of the planned policy and rightness or otherwise of its implementation now,” she said. Emefiele announced on Wednesday that, with President Muhammadu Buhari's agreement, the top bank would redesign the N200, N500, and N1,000 notes. He claimed that the measure was conducted to seize control of the currency in use and emphasized that the majority of the country's currency notes were not stored in banks. The proposed policy, he continued, was compliant with Sections 19, Subsections A and B of the CBN Act 2007, according to which the CBN's management requested and received the president's approval to redesign, print, and distribute new series of banknotes at the denominations of N200, N500, and N1,000 notes.

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We Are Unaware Of Naira Redesigning — FG

Minister of Finance, Budget, and National Planning, Zainab Ahmad, has disassociated her ministry from the planned move by the Central Bank of Nigeria ( CBN) to redesign the naira. The minister, who commented on the policy in response to a question raised by Senator Opeyemi Bamidele (APC Ekiti Central) during the 2023 budget defense session with the Senate Committee on Finance, warned CBN of…