Top Nigerian newspaper headlines and breaking news in Nigeria today, Friday, April 14, 2023.
CBN to Convert Dormant Accounts Into Unclaimed Balances Trust Fund
The Central Bank of Nigeria (CBN) has announced plans to mop up dormant account balances and unclaimed balances in banks into a designated account.
The CBN said the unclaimed balances will be invested in government securities to be returned to beneficiaries not more than ten days of notice.
This formed a part of the Exposure draft of the Guidelines on the Management of Dormant Accounts drafted in April 2023.
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The document repeats October 7, 2015, Guidelines on the Management of Dormant Accounts and Other Unclaimed Balances by Banks and Other Financial Institutions in Nigeria.
The CBN said, “The Central Bank of Nigeria shall open and maintain an account earmarked for the purpose of warehousing unclaimed balances in eligible accounts. The account shall be called “Unclaimed Balances Trust Fund Pool Account”.
The apex bank said eligible accounts are dormant accounts balances that have remained with the FIs for a period of 10 years and beyond.
The eligible accounts and financial assets are: Current, Savings and Term deposits in local currency; Domiciliary accounts; Deposits towards the purchase of shares and Mutual Investments; Prepaid card accounts and wallets; Proceeds of uncleared and unpresented financial instruments belonging to customers or non-customers of FIs; Unclaimed salaries and wages, commissions, and bonuses.
Others are: Proceeds of stale local and/or foreign currency drafts not presented for payment by beneficiaries; Funds received from a correspondent bank without sufficient details as to the rightful beneficiary and/or a recall of funds made to the remitting bank to which the Nigerian bank’s account had not been debited and A judgment debt for which the judgment creditor has not claimed the amount of judgment award.
According to the CBN, Financial Institutions shall treat accounts and financial assets that have become dormant as follows:
“i. Formulate policies for the recognition and management of dormant accounts and financial assets that are consistent with this guideline and other extant regulations; ii. Establish effective controls to ensure surveillance and second-level authorization on reactivation of dormant accounts, among other measures;
“iii. Maintain a register of dormant accounts balances; iv. Transfer balances that have remained in the dormant account register for up to ten years to the ‘UBTF Pool Account; and v. Require customers seeking to reactivate dormant accounts to provide evidence of account ownership, valid means of identification, evidence of the present place of residence, and affidavit on the accuracy of the information to reactivate the account.
CBN said when it receives the unclaimed balances the apex bank will, “i. Open and maintain the ‘Unclaimed Balances Trust Fund Pool Account’; ii. Maintain records of the beneficiaries of the unclaimed balances warehoused in the UBTF Pool Account; iii. Invest the funds in Nigerian treasury bills (NTBs) and other securities as may be approved by the ‘Unclaimed Balances Management
Committee’;
“iv. Refund the unclaimed funds to the beneficiaries not later than ten (10) working days from the date of receipt of the request. v. Where it is imperative to extend the timeline, a notice of extension shall be communicated to the requesting FI stating reasons for the extension.”
The Central Bank said any bank or financial institution that contravenes any provision of the new guidelines would attract a penalty of not less than N2,000,000.
It added that “failure to comply with CBN’s directive in respect of any infraction will attract a further penalty of N200,000 daily until the directive is complied with or as may be determined by CBN.”
Tinubu Listed in TIME Magazine’s 2023 ‘100 Most Influential People’
Nigeria’s President-elect, Bola Tinubu has been named in the TIME magazine’s 100 Most Influential People of 2023.
Tinubu, winner of the controversial February 25, 2023 presidential election, made the list alongside King of the United Kingdom, King Charles III; US President Joe Biden; US Senator Mitch McConnell; Argentine footballer, Lionel Messi and Twitter CEO, Elon Musk.
Others include entertainers like US actor, Michael B. Jordan; US singer, Beyonce; US actress, Angela Bassett anr others.
TIME magazine gave Tinubu’s profile to read as;
“Winning an election in Africa’s most populous country is no easy feat. But Nigeria’s newly elected President Bola Ahmed Tinubu has had nearly two decades to prepare.
“Called Jagaban, or ‘leader of the warriors’, by his supporters, the now 71-year-old ran in a presidential election for the first time this March.
“His campaign slogan, ‘It’s my turn’, was a nod to his role as a longtime political power broker. Tinubu helped restore the country’s democracy in 1999 after fighting military rule and then served two consecutive terms as governor of Lagos.
“But Tinubu’s win with the ruling All Progressives Congress party came in a fraught election and by a slim margin over Atiku Abubakar and Peter Obi.
“It was the first time Nigerian voters contended with a third-party candidate, and many discontented young Nigerians yearning for change pinned their hopes on Obi. Marred by allegations of intimidation and vote rigging, the outcome of the ballot is being challenged in court.
“Tinubu now faces a litany of crises in a fractured nation, including deep-rooted corruption, religious insurgencies, and shortages of cash, fuel, and power in a crumbling economy.
“But the President-elect seems aware of his inheritance: ‘[Nigeria] is one country and we must build it together,’ he said in his acceptance speech.”
My Life in Danger Over Tinubu – Ex-Lagos DG, Sinatu Ojikutu
A former deputy governor of Lagos State, Alhaja Sinatu Ojikutu, on Monday, raised an alarm that her life is under threat following the emergence of Bola Tinubu as the President-elect.
Ojikutu, who disclosed this while addressing the press at her Lagos residence, said she had commenced the process of renouncing her Nigerian citizenship as she promised to do if Tinubu emerged President.
According to her, the process would be completed before May 29.
She said,
“Before the results of the presidential elections were declared, I came out to say that if Bola Tinubu won the election, I would renounce my citizenship in Nigeria and I have my reasons.
“When he won, people called me and said he would not do anything bad. But I am endangered by the current situation. I have been ostracised and humiliated in places where I should be honoured because of his not being at peace with me.
“I will not hold a Nigerian passport with Bola Tinubu as President. I am praying to God to give me the nation I can go to. I am not going to America or the United Kingdom. I want a simple place where I (can) stay and live for the rest of my life.
“I don’t know where I am going but I have already given it to the lawyers to please see where I can get the citizenship. I am working on it seriously before May 29.”
Ojikutu said all efforts to resolve the differences she had with Tinubu since she was made a Commissioner representing Lagos State at the Federal Character Commission had been unsuccessful.
While lamenting over the state of the nation, she said she was no longer proud to be a former public office holder.
She said, “The National Assembly system is too expensive for Nigeria. The natural resources of this nation are enough for every man if it is well managed. I am ashamed to call myself a public officer because I cannot see all my sacrifices. And some people will boast of their political status as excellency. Excellency over a nation like this?
“People who have served this nation faithfully are unhappy at the turn up of events. There are so many people on the streets who are hungry and everything that was supposed to be put in place has not been put in place.”
She said those who were not satisfied about the outcome of the elections had every right to challenge the process in court.
Ojikutu however tasked the judiciary, especially the Chief Justice of Nigeria to have the fear of God in adjudicating in the disputes arising from the Presidential election of February 25, 2023, saying she is confident that the judiciary would do the right thing.
Only 28 Persons Died in 2023 Election Unlike Other Years — Festus Keyamo
Festus Keyamo, spokesperson of the All Progressives Congress (APC) presidential campaign has confirmed the number of deaths recorded in this year’s election.
This was contained in the text of The Parley held with the International Media at the National Press Center, Washington D.C, United States on Wednesday, April 12, 2023, by representatives of the President-elect, Senator Bola Ahmed Tinubu.
Keyamo said that although there were reports of some irregularities and violence in some polling units, the numbers of casualties were less compared to previous elections since 1964.
He added that regardless, the event didn’t affect the overall outcome of the elections which his principal emerged winner having secured the highest number of votes.
The Federal Minister of State for Labour and Employment was hopeful that future elections would be death free.
He said:
“There are 176,974 polling units in Nigeria and infractions and violence were recorded in less than one percent of these units.
“How could these have affected the overall results of the elections? Whilst we look forward to an era when there would be no single casualty during elections in Nigeria, however, the statistics show that 2023 recorded the lowest casualty rates ever.
“During the 1964/65 elections about 200 deaths were recorded as a result of election violence; 1993 election recorded 100 deaths; 1999 election recorded 80 deaths; 2003 polls recorded 100 deaths and 2007 polls recorded 300 deaths.
“The 2011 polls recorded 800 deaths, the 2015 polls recorded 100 deaths and the 2019 polls recorded 150 deaths.
“However, the 2023 polls recorded no more than 28 deaths as a result of election violence. So, the claim that this is the ‘worst’ election so far is totally unfounded.”
FirstBank Announces Corporate Name Change of Subsidiaries
First Bank of Nigeria Ltd. (FirstBank), has announced a phased corporate name change of its subsidiaries in the United Kingdom and Sub-Saharan Africa.
Folake Ani-Mumuney, group head, marketing and corporate communications, FirstBank, made the disclosure in a statement in Lagos.
According to the statement, the name change was implemented to align the subsidiaries with the parent brand and to enjoy the strong heritage and brand equity built by FirstBank Nigeria in its 129 years of banking leadership.
It named the first set of subsidiaries effecting the name alignment as FBNBank UK, FBNBank Sierra Leone, FBNBank Gambia and FBNBank DRC.
The statement noted that the subsidiaries are now known and addressed as FirstBank UK, FirstBank Sierra Leone, FirstBank Gambia and FirstBank DRC. Adding that Ghana, Senegal and Guinea subsidiaries would be next in the phased name change implementation.
The name change would further enhance the quality-of-service delivery resulting in better brand clarity, uniformity and consistency across all the markets where the Bank operated.
The statement also quoted Adesola Adeduntan, Chief Executive Officer of FirstBank Group, as saying, “the name change coincided with the bank’s 129th founding anniversary (March 31, 2023)”.
“It is indeed a milestone reflective of our resolve to continuously provide the gold standard of excellence and value as we put our customers First.
“The new identity of the subsidiaries contributes to an enhanced brand presence.
“It helps our customers and stakeholders better appreciate the value of the diversified products suites, competitive pricing and extensive business networks the FirstBank Group offers.
“These include our commitment to boosting cross-border businesses which involve trade and investment opportunities essential, to enhancing trade relations amongst countries, thereby strengthening the economies of host communities and reducing poverty,” he said.
UK Apologizes to Peter Obi Over ‘Illegal’ Detention
The United Kingdom has apologized to Peter Obi, the presidential candidate of the Labour Party over his ‘illegal’ detention on Wednesday.
Daily Report Nigeria had reported that Obi was detained and questioned for hours but immigration officials at the Heathrow Airport over alleged duplication of his document.
However, the immigration official has admitted that he wrongly handed the former Anambra governor a detention note in a search of man who impersonated him to commit perjury, forgery and identity theft.
The UK government also described the uncomplimentary treatment Obi received as “completely unacceptable,” and issued a personal apology.
“Frankly, the Immigration Official’s action – has been appalling – and we are sorry,” Immigration authorities apologized.
Why Peter Obi was detained
The Labour Party presidential candidate, Peter Obi was unlawfully detained and interrogated for hours by immigration officials at Heathrow Airport in London on April 7, 2023.
Head of Obi-Datti Media Office, Diran Onifade, disclosed this known in a statement issued on Wednesday.
The Obi-Datti media office said the former Governor of Anambra State was wrongly detained over offences allegedly committed by an impostor who is still at large.
The statement added that the impostor of Obi may commit various crimes that would lead to the arrest of the LP flagbearer in the United Kingdom for duplication.
Lagos Cultural Group Frowns At Portrayal of Eyo Masquerade in ‘Gang of Lagos’
Isale Eko Descendants’ Union (IDU), a cultural group representing the descendants of the original inhabitants of Lagos Island, has frowned at the portrayal of the Eyo masquerade in Gangs of Lagos.
The recent Nigerian film was directed by Jade Osiberu and displayed the Eyo masquerade, an important part of the cultural heritage of Lagos Island in some of the scenes.
Checks revealed the masquerade was a form of street theatre that was performed during festivals and other important events. It was also considered a sacred tradition by the people of Isale Eko.
It was characterised by the distinctive white costumes and masks worn by the performers, which were believed to represent the spirits of the ancestors.
Contrarily, the union’s chairman, Mr Yomi Tokosi argued that Gangs of Lagos, which was released on Amazon Prime Video on April 7, 2023, featured scenes that depicted the masquerades as a violent and menacing presence, used by criminal gangs to intimidate and assassinate enemies.
Tokosi said the movie misrepresented the true nature of the Eyo masquerade and reinforced negative stereotypes about their culture.
The group stated its displeasure at how Isale Eko was showcased in the movie in a statement signed by Tokosi.
The statement added that the neighbourhood was also portrayed in the movie as a hotbed of crime.
Also, for the exposure of Lagosians to egregious embarrassment, “a petition has been lodged by the IDU with the National Film and Video Censors Board (NF&VCB) including other major stakeholders.”
The IDU demanded that the NFVCB withdraw the movie from all public viewing platforms, among other demands.
The statement read:
“The attention of the Isale Eko Descendants’ Union (IDU) has been drawn to the very disturbing violent images in a new movie directed by Jade Osiberu and Kemi Lala Akindoju, executive produced by Adesegun Adetoro, Demi Olubanwo, Olumide Soyombo, Bankole Wellington, Adesua Etomi-Wellington, and Kola Aina; and filmed by Greoh Studios and released by Amazon’s Prime Video Nigeria called gangs of Lagos.
“In the movie, the unique Eyo masquerade indigenous to the Isale Eko community in Lagos was illegally and scandalously depicted as being used as a camouflage, decoy and subterfuge for murderers and gangsters operating in the Isale Eko area.
“For the avoidance of doubt, the Eyo masquerade has been part of the unique cultural heritage of the Isale Eko community of Lagos since 1854 (169 years) and the Eyo is known as a masquerade for celebration in Lagos island and not an instrument of gangs of criminals as illegally and scandalously portrayed
“Most importantly, the movie has brought the Eyo masquerade and the people of Isale Eko into disrepute, who are now deemed criminally minded in the eyes of right-thinking members of the society.
“The Isale Eko descendants’ union is very disturbed that the culture and tradition of Isale Eko can be wantonly exploited in such a despicable and insensitive manner by Amazon Prime Video to the detriment of the Isale Eko community. The illegal and scandalous depiction of the Eyo masquerade in the movie is actionable and a petition has been lodged by the IDU with the National Film and Video Censors Board (NF&VCB) including other major stakeholders.
“The IDU has among other things requested that the NF&VCB withdraw the approval granted to the movie- Gangs of Lagos and direct the withdrawal of the movie from all viewing channels available to the public. The IDU and other community stakeholders will also be considering legal action for the damage done to the culture, tradition and image of the Isale Eko community and the Eyo masquerade.”
No Reason to Cancel 2023 Presidential Election – INEC
The Independent National Electoral Commission (INEC) has reacted to the numerous calls for the possible cancellation of the 2023 presidential election in Nigeria.
Declaring its position, INEC said alleged infractions concerns raised by partakers and stakeholders are not strong enough reasons for the cancellation of the February 25 presidential election.
The electoral umpire stated this on Tuesday while responding to petitions by the Peoples Democratic Party (PDP) and its presidential candidate, Atiku Abubakar, challenging the outcome of the poll.
In his petition, Atiku said the results of the presidential election had put the entire judicial system on trial as there is “empirical evidence” of how the results were manipulated to favour the presidential candidate of the All Progressives Congress (APC), Bola Tinubu.
However, INEC through its lawyer, Abubakar Mahmood, said the controversies surrounding the presidential election result were not substantial enough to cancel the entire process.
The electoral umpire also denied working in favour of the APC or Tinubu, maintaining that the exercise was conducted in substantial compliance with the Electoral Act, 2022 and INEC’s Regulations and Guidelines for the Conduct of Elections 2022.
INEC said;
“No act of non-compliance (if any) was substantial enough to have affected the outcome of the election or result declared.
“The summation of the result declared is consistent with the number of duly accredited voters. There was no act of infraction, as alleged by the petitioners, that is substantial enough to nullify the election.”
INEC told the tribunal that contrary to the claims of the petitioners, the 2023 presidential election was free, fair and credible.
It explained that the Permanent Voter Card (PVC), Electronic Voter Register (EVR), and (BVAS) and other technological devices were deployed to enhance the ease, credibility, transparency and integrity of the electoral process.
However, INEC said the BVAS machine “was not designed for real time transmission of election results for the purpose of collation.”
“Contrary to the assertion of the petitioners in paragraph 19 of the Petition, the 1st Respondent has no electronic collation system by which real-time transmission of polling unit results was to be made or that such alleged electronic transmission of polling unit results was to form the basis for the collation of results at various collation levels.
“The 1st Respondent further states that although it is empowered by the Regulations to prescribe an ‘Electronic Collation System’, none was prescribed by it for use during the 2023 general election, including the presidential election of 25 February 2023.”
N480m Fraud: Police Declare CEO Chinmark Group, Ijiomah Marksman Wanted
The Nigeria Police Force, has declared the Chief Executive Officer of Chinmark Group, Ijiomah Marksman Chinedu, wanted for alleged investment fraud.
The embattled businessman is expected to appear before the Assistant Inspector General of Police, Interpol, Force Headquarters, Abuja
A special police gazette bulletin disclosed that a warrant of arrest/bench warrant was issued by the Magistrate Court of Lagos.
Ijiomah Marksman is wanted for cyber fraud, obtaining money by false pretences and money laundering to the tune of N480,013 million.
Chive GPS, a dispute resolution company which provides debt recovery solutions and other services, had petitioned the police.
The firm narrated how its client, “oblivious of the large-scale fraud ahead”, sent the money in question into multiple bank accounts controlled by Chinmark Group.
The transaction was designed to yield interest but at the expected time, “the chief masterminds, Ijiomah Marksman and Purity Marksman” reportedly fled Nigeria to the UAE or the South Pacific Island of Vanuatu.
Chive GPS said the suspect “may have coordinated this fraud alongside Amanda Chisom, Peter Awuzie, Happiness Awuzie, Linda Chinemelum Paul, Ada Ujaligwa, Timothy Benedict, and Harrison Gwamnishu”.
The petition also urged the police to have the Chinmark boss placed on a global red notice to allow security agencies monitor his movement.
Fani-Kayode Mocks Peter Obi Over Detention in UK
The Director, New Media of the All Progressives Congress (APC) Presidential Campaign Council, Femi Fani-Kayode, has mocked the presidential candidate of the Labour Party, Peter Obi over the latter’s reported detention in London, United Kingdom.
Daily Report Nigeria reported that Obi was detained and question for hours by immigration officers at the Heathrow Airport, United Kingdom.
According to Spokesman for the Obi-Datti Campaign Council, Diran Onifade, Obi was detained and questioned over alleged impersonation.
Onifade said the LP presidential candidate has his travel documents duplicated by an imposter in London.
Reacting to the incident, Fani-Kayode mocked Obi for not saying ‘Yes Daddy’ or calling calling on writer Chimamanda Adichie to come to his rescue.
In his tweet on Wednesday, the APC chieftain said Obi was accosted, detained and deported back to Nigeria like a commoner by the British authorities.
He wrote;
“!Accosted, detained & deported back to Nigeria like a common … by the British authorities?
“Why didn’t you say “yes daddy” to the immigration officer? Or better still why didn’t you call the little Englander or the little diva to put in a word for you.”
Meanwhile, the Obi-Datti Media office noted that its principal has been under all kinds of attack, since the February 25th, 2023 Presidential election.
Many Feared Dead as Bus Collides With Trailer on Lagos-Ibadan Expressway
Many occupants of a commuters bus have been feared dead following a collision with a trailer on the Lagos-Ibadan Expressway.
The commuter bus was said to be plying one-way on its way from Lagos to Ogun State.
The vehicle reportedly split into two following the collision with the trailer, killing several passengers on board.
The accident happened around 7pm on wednesday with dead being loaded inside a truck.
The incident was confirmed by the Federal Road Safety Corps Sector Commander, Mr Babatunde Farinloye, however, he could not give much details of the incident.
Tompolo @52: Odimodi Community Lauds Niger Delta Leader
The leadership of Odimodi community in Burutu Local Government Area of Delta State, has congratulated foremost Niger Delta leader, High Chief Government Ekpemupolo, alias Tompolo on the occasion of his 52nd birthday.
In a congratulatory message sent to Daily Report Nigeria, Chairman of the community, Comrade Solomon Gbegha, described the former warlord as a blessing to the Niger Delta and the Nigerian state.
Gbegha lauded Tompolo for his consistency in fighting for the emancipation of the Niger Delta people.
The community leader further prayed Tompolo more of God’s wisdom and good health going forward.
He wrote;
“On behalf of the entire people of Odimodi community, we celebrate with High Chief Government Ekpemupolo on the occasion of your 52nd birth anniversary.
“There is no gainsaying that you’re a blessing to the Niger Delta and the Nigerian state at large. Your consistency in fighting for the betterment of our people is a testament to your goodwill for us.
“As you grow in age today, our Ernest prayer is for more of God’s wisdom and good health as you continue to grow.
“Once again, congratulations and a belated happy birthday to you.”
