FOUNDER of Wellspring of God Ministry, Agbarha-Otor, Pastor Alex Itedjere has reportedly killed a yet to be identified young girl in Ughelli North Local Government Area of Delta State. It was learned that the remains of the victim was discovered in the pastor’s house on Friday morning. Our Source said the cleric, whose church is located at No. 4 Onomuke street in Agbarha-Otor, butchered the young girl with a machete, after destroying his father’s shrine in the community. Though the report is sketchy, It could not be ascertained why the pastor killed the deceased. However, it took the timely arrival of security agents attached to Agbarha-Otor B’ division, to rescue the suspect who would have been lynched by angry youths. Delta State Police Public Relations Officer, DSP Bright Edafe as at the time of filling this report was not reachable. Culled from Vanguard 

  The Governorship Elections Petition Tribunal sitting in Jos in North Central Nigeria has upheld the election of Governor Caleb Mutfwang of the Peoples Democratic Party (PDP). The three-member panel, in its judgment delivered on Friday, unanimously held that the petitioner failed in its petition because it lacked merit. Justice Sunday Olorundahunsi, reading the judgment, dismissed all three grounds canvassed by the petitioner and governorship candidate of the All Progressives Congress (APC), Nentawe Yilwatda. On March 20, the INEC Returning Officer in the state, Prof Idris Amali, announced Mutfwang as the winner having scored 525,299 votes, while Yilwatda polled 481,370 votes. According to the results, the PDP won in 10 local government areas (LGAs), including Barkin Ladi, Bassa, Lantang North, Langtang South, Riyom, Mikang, Mangu, Jos East, Qua’an Pan and Pokkos. On the other hand, the APC had the highest votes in seven LGAs of Jos East, Kanke, Kanam, Pankshin, Shendam, Wase, and Jos North.

  The Kogi State Chapter of the Nigeria Medical Association (NMA) has confirmed the kidnapping of one of its members, Dr Austin Uwumagbe. Dr Uwumagbe was reportedly kidnapped shortly after leaving his hospital, Victory Hospital-Annex, at Ogaminana, Adavi Local Government Area, on Tuesday night at about half past eight. The State NMA Chairman, Dr. Baoku Olusola, and Secretary, Dr Emmanuel Bola Jonah, who confirmed this in a joint statement, requested the immediate release of the medical doctor to enable him to continue his essential service to the people. The statement condemned in strong terms the kidnapping of medical personnel, describing the act as unfortunate and unacceptable. The statement reads: “We write to notify you of the kidnapping of our colleague by the name of Dr Austin Uwumagbe, who was said to have been abducted shortly after leaving his hospital (Victory Hospital-Annex) at Ogaminana, Adavi LGA of Kogi State. He was said to have been abducted with his car, an ash-coloured 406 Peugeot with registration number DAV 561 AA, at about 8:30 p.m. last night (19/9/2023).” It added that the matter has been reported to security agencies as they await urgent action to be taken.

  The United States court for the Northern district of Illinois has agreed to stay an order requiring Chicago State University (CSU) to release the academic records of President Bola Tinubu in two days. Jeffrey Gilbert, US magistrate judge, had granted Atiku Abubakar’s request for the release of the records and had given the university 48 hours to turn them in. Gilbert’s order would have required CSU to submit the documents by the end of Thursday. However, during an emergency hearing on Thursday, Nancy Maldonado, US district judge, agreed to extend the deadline. Maldonado asked counsels of both sides to file additional arguments by next Thursday. Tinubu’s lawyers had argued that Gilbert’s decision needed to be reviewed by a district judge. That request was granted by Maldonado. Mindful of legal deadlines in Nigeria, Maldonado admitted that she “will have a busy weekend”. “The issue is of process and rules. I’m a rule person; that’s why I’m a judge. This case is quite involved. I am aware of the stakes. It’s more important to me to get this right,” she said. DISCREPANCIES WITH CERTIFICATE Atiku had approached the court for an order compelling CSU to release the records. Tinubu’s credentials show that he graduated from CSU in 1979 with a bachelor’s degree in business administration, accounting and management. However, there have been allegations bordering on discrepancies with Tinubu’s certificate. In the suit filed before the US district court, Abubakar prayed that the court should subpoena Tinubu’s files domiciled with CSU. Abubakar said the files will settle the controversy surrounding Tinubu’s academic background. The president, through his counsel, had filed a counter application opposing the request for the release of his academic records. Tinubu had also sought to be joined in the suit because it is his personal information that is being required. “Mr. Tinubu should be allowed to join or intervene because he has a direct personal interest in records sought, his interests are not fully represented or protected by Respondent Chicago State University, and his interests will be affected if he is not permitted to join or intervene,” the motion filed by Christopher Carmichael, Tinubu’s lawyer, reads. Abubakar had filed an appeal at the supreme court against the judgment of the tribunal that affirmed Tinubu’s election.

  Hedge funds are piling into the oil market, betting that prices will soon exceed $100 a barrel, the Financial Times (FT) is reporting. Hedge funds pool money from investors and invest in securities or other types of investments with the goal of getting positive returns. On September 5, 2023, Saudi Arabia and Russia extended voluntary production cuts of (combined) 1.3 million barrels of oil per day to the end of the year. In the report on Thursday, the Financial Times (FT) said the increasing stakes add momentum to a surge sparked by production and export cuts from Saudi Arabia and Russia. “Riyadh’s extension until December of a 1mn barrel a day oil cut, in addition to further cuts under its Opec+ target, has compounded Moscow’s move to limit exports and pushed prices for Brent crude, the international oil benchmark, to $95 a barrel this week, a fresh high for the year,” the report reads. According to the FT, exchange and regulatory data suggest hedge fund positioning had exacerbated the about 30 percent increase in oil prices since June 2023, with a spike in the purchase for both Brent and US crude futures, in the past two weeks. “The latest data showed that the combined fund net long position in Brent and West Texas Intermediate, the US benchmark, jumped by 137,000 contracts, or 35 percent, to an 18-month high of 527,000 contracts in the two weeks to September 12,” the report further reads. FT noted that the figures — equivalent to more than 500 million barrels or about five days worth of global demand — are a widely followed proxy for the activity of speculative players like hedge funds. An analyst who spoke to the financial publication said hedge fund interest in oil was triggered by Saudi Arabia’s announcement that it would keep its voluntary oil output cuts in place longer than previously thought. On Monday, Abdulaziz bin Salman, Saudi Arabia’s energy minister, defended the country’s decision to further limit production, saying global demand for oil may drop if global economic growth slows in the months ahead. “But analysts said Prince Abdulaziz bin Salman’s stance could yet become a self-fulfilling prophecy: rising prices risk complicating central banks’ exit strategies and hampering global demand for oil,” FT said. “Investors are keeping some of their money on the sidelines, wary, like Prince Abdulaziz, of signs of macroeconomic stress in China and a potential period of stagflation in Europe.”

  The National Pension Commission (PenCom) says pension assets increased to N17.07 trillion at the end of July 2023. Aisha Dahir-Umar, director-general of PenCom, disclosed this at a sensitisation conference for civil society organisations (CSOs) in Abuja. Speaking at the event, Dahir-Umar said pension assets recorded a significant increase of N2.08 trillion, rising from N14.99 trillion at the end of 2022 to N17.07 trillion at the end of July. She highlighted the robust growth of the pension industry in 2023, despite the economic challenges; adding that the contributory pension scheme (CPS) secured over 10 million retirement savings account (RSA) holders. “The pension industry still holds vast growth potential, especially as more nano, micro, small, and medium enterprises (NMSMEs) join the CPS through the Micro Pension Plan (MPP),” Dahir-Umar said. “The commission actively supports pension fund administrators (PFAs) in devising incentives such as health insurance for MPP participants.” The MPP, according to the agency, is a pension plan designed for individuals in the informal sector and other underserved populations. It aims to curb old-age poverty by enabling participants to contribute during their working years and foster long-term savings to provide financial security during retirement. “The pension industry is a customer-centric industry, and we are committed to ensuring that RSA holders receive the highest quality of service from PFAs,” PenCom said. “The objective is to make pension plans more inclusive, accessible, and beneficial for individuals in the informal sector and other underserved populations. “We are committed to making the micro pension plan a success so that more Nigerians can have a secure retirement.” The commission also provided details on how RSA holders can access up to 25 percent of their RSA balance as an equity contribution to procure, residential houses through a mortgage. “This initiative will help RSA holders to achieve their homeownership dreams and improve their overall well-being,” PenCom said. During the conference, participants expressed satisfaction with the performance of PenCom, commending the organisation for its exceptional supervision and regulation of the pension industry in Nigeria.

  President Bola Tinubu says he is determined to follow through on his promise of reforming Nigeria, even if it earns him an infamous reputation. Tinubu spoke while meeting with António Guterres, United Nations (UN) secretary-general, in his office at the UN headquarters in New York, United States, according to a statement issued on Thursday by Ajuri Ngelale, presidential spokesperson. The president said his drive to ensure that democracy stands in the country was met with arrests in the past but added that it did not deter him. “I fought for democracy. I was detained for democracy. I am now President and I am determined to prove that democracy can provide the development that our nation and our continent so urgently demands,” Ngelale quoted his principal as saying. Tinubu added that the country has focused too much on talks instead of actions to curtail the high levels of poverty. The president said he is committed to taking decisions that would change the narrative. “Trace those of us here to our foundations and you will find that we have ties and links with poverty,” he said. “We must not be ashamed of that history, but poverty is unacceptable. I am one of the lucky survivors of gripping poverty. “Nigeria is truly a giant, 240 million people and counting with a massive youth population. “We are done saying too much. We seek much action. We have arisen out of poverty as individuals, but until our people have arisen out of that, we will not rest, even if it requires decisions at home that make me temporarily unpopular.” Since his assumption of office on May 29, some of his economic decisions, including the removal of the petrol subsidy and unifying foreign exchange rates, have attracted criticism. But many analysts have applauded the president’s policies, which they said were long overdue reforms despite the rising inflation and high cost of living in the country. Tinubu has repeatedly assured that it is only a temporary phase that would birth a new Nigeria. Guterres said the president’s reforms have raised “high expectations” from the UN, adding that the global organisation would continue to offer support. “Nigeria is an indispensable voice in the sub-region. We will give you every support needed for your success to be achieved. Your success is Africa’s success and we wish you well,” the UN secretary-general added.

  The New Nigeria People’s Party has blamed a former presidential candidate of the party, Rabiu Kwankwaso of being responsible for the loss of Kano governor, Yusuf Abba at the State Governorship Election Petitions Tribunal. The party insisted that Kwankwaso allegedly sold out NNPP to the ruling All Progressives Congress in order to negotiate for a ministerial slot in the President Bola Tinubu-led government. The Kano State Governorship Election Petitions Tribunal had on Wednesday, sacked Abba, and declared the APC candidate, Nasir Gawuna, winner of the March 18 governorship poll. The three-man panel, led by Justice Oluyemi Akintan-Osadebay, further withdrew the Certificate of Return the Independent National Electoral Commission presented to Yusuf. . Stating reasons why the Kano governor was sacked, the panel said the margin of votes scored by NNPP was invalid and not in compliance with the 2022 electoral act. The judges deducted 165,663 votes from the NNPP, adding that the ballot papers of the 165,663 were not stamped or signed and therefore declared invalid. Reacting, One of the Chieftain of NNPP in Southwest, Alhaji Abass Akande Onilewura, in a statement made available to newsmen on Thursday, said the loss of the party in Kano corroborated the anti-party allegation raised against Kwankwaso. Onilewura stressed that the former NNPP flagbearer’s alleged involvement in anti-party activities led to the big loss the party is facing with the declaration of the Tribunal in Kano. He insisted that Kwankwaso did not follow due process in the selection of some of the governorship candidates for the party, which reportedly led to the filing of unpopular or unacceptable flagbearers. He added, “This loss is a big one for us at NNPP and it only happened because of the selfishness of Kwankwaso who sold the party to the highest bidder. While we are still waiting for the Certified True Copy of the tribunal judgment, it is important for the world to know that this would not have happened if Kwankwaso had allowed due process and given the ticket to the most qualified candidate but his inlaw. Our investigation also showed that the continuous engagement of Kwankwaso with APC at some point gave room for them to discover loopholes which were later used against the Kano governor to secure victory for the opposition. It is unfortunate that some of us sweat to get the party to where it is today, only for someone like Kwankwaso to come and make all our efforts a waste. We are happy that someone like that has been expelled from this great party. “We also want to use the avenue to warn him to stay clear of NNPP, we don’t want a betrayal in our party and we would do anything humanly possible to secure our party from hijackers who are more concerned about personal gain. “I will also urge our members across the country to remain calm because a new leadership has taken over the party and we would do everything to restore the glory of our party. NNPP will come out to become a strong voice and opposition that would stand for justice, equity, and good governance.”