Nineteen directors at the Central Bank of Nigeria (CBN) are set to be dismissed in the coming days, following the recent termination of seven directors last Friday. While two of the terminated directors have accepted their fate, the other five are planning to take legal action against the bank for what they consider to be an unlawful termination of their appointments. The two directors who accepted their termination quietly are also facing a case with the Economic and Financial Crimes Commission (EFCC) due to their implication in the Obaze report. The termination letters sent to the seven directors cited “reorganizational and human capital restructuring” as the reason for their dismissal, in line with the bank’s new strategic direction. The letters stated that their services would no longer be required with effect from Friday, 15th March 2024, and they were instructed to hand over all bank properties in their possession to their department’s administrator immediately. The five directors who are contesting their termination are reportedly upset as no wrongdoing has been attributed to them, and they have not been implicated in any misconduct. One of the directors affected has just two years and two months left in service. A source within the CBN expressed concern over the lack of an exit package for the terminated directors, especially considering their years of service and the absence of any charges or accusations against them. The source also highlighted the loss of 200 years of institutional knowledge and expertise that would result from the dismissal of these experienced directors. It has been revealed that the remaining 12 directors who are yet to receive their termination letters are aware of their impending dismissal. Some staff members have made appeals to the management on behalf of the affected directors, requesting that the sack be reconsidered and converted to retirement to allow the directors to receive their allowances. The situation at the CBN has sparked discussions and concerns about the impact of the dismissals on the bank’s operations and the fate of the affected directors.

  Adebayo Adelabu, minister of power, says the federal government has released N12.7 billion to provide meters in army barracks across the country. Adelabu said the amount is from the N40 billion earmarked for the mass metering project, according to a statement by Bolaji Tunji, his special adviser on strategic communication and media relations, on Monday. The minister, who spoke during the flagoff of the metering exercise at the headquarters of the 9th brigade of the Nigerian army, Ikeja Military Cantonment, said the exercise would be in phases. He said the Ikeja cantonment is the first phase of the exercise, which would last for six weeks before the second phase begins. “Mass metering in army formations nationwide will enable us to know what is being consumed on a monthly basis in order to ensure appropriate billings and ease collections,” the minister said. “The overall intention is to eliminate and make estimated billing a thing of the past. “The current exercise is part of President Bola Tinubu’s renewed hope agenda to ensure regular supply of electricity to army formations nationwide. This is one of Mr. President’s objectives as contained in the renewed hope agenda to ensure that electricity supply to the armed forces is prioritised and they do not suffer, especially in the enjoyment of public utilities.” Adelabu said the smart meters being installed are tamper-proof and would eliminate energy theft. He said it would be difficult to bypass the meters which also come with an app where customers can get statements of their consumption on a monthly basis. The minister added that the meters allow interconnectivity between grid and off-grid solar power supply. According to Adelabu, part of the energy blueprint for the country involves building off-grid power sources such as solar energy for military barracks located in remote areas without grid supply. He said where there is a grid supply, there would be an interchange between the grid and solar supply if not satisfied with the number of hours supplied by the distribution companies (DISCOs). “Beyond metering, we have to prioritise electricity supply to the barracks,” the politician said. On his part, Ashade Olatunbosun, chief executive officer of De Haryor Global Services, said the second phase of the project would begin in Abuja and Enugu, simultaneously. He said military formations across the 11 electricity distribution companies (DisCos) would benefit from the exercise. “Army formations in Jos, Abuja, Ibadan, Enugu, Kaduna, Ikeja and Eko DisCos will benefit from the exercise,” Olatunbosun said. Speaking earlier, Adegoke Adetuyi, commander of the 9th brigade of the Nigerian army, Ikeja, said the federal government’s metering initiative was timely as the brigade headquarters had been getting epileptic power supply over time.

  FirstNews, an online news platform, says there has been no response from security agencies, three days after Segun Olatunji, its editor, was “abducted”. Olatunji, a former Kaduna bureau chief of The PUNCH, was reportedly abducted from his home in Iyana Odo, Abule Egba area of Lagos, by gunmen on Friday. In a statement issued on Saturday, the management of the media platform linked the incident to a recent story published by FirstNews. His wife, Abiodun Olatunji, said the armed men numbering ten arrived at their residence a few minutes after 6 pm and whisked him away, without disclosing where the journalist was being taken to. “Some armed men dressed in military uniform totaling ten in number (two in uniform and the remaining 8 in mufti but all armed) arrived at our residence at Dauda Oriyomi street, Iyana Odo along Joke Ayo in Abule Egba area of Lagos State and took away my husband,” Abiodun Olatunji was quoted as saying. In a statement on Monday, the management of the media platform said three days have passed since the abduction, and that despite spirited efforts, there has been no word on Olatunji’s whereabouts. “There has been no response from the military or any of the security agencies regarding their awareness or involvement in his arrest,” the statement reads. Daniel Iworiso-Markson, Publisher of FirstNews, said despite attempts to contact him, Olatunji’s phone remains switched off, and neither his family nor the management of FirstNews has received any communication regarding the reason for his abduction. “In light of these events, FirstNews reiterates its commitment to journalistic integrity and ethical reporting. As a reputable independent digital news network, we uphold the highest standards of professionalism and accountability,” the statement reads. “Our dedication to factual, authentic, and credible reporting remains unwavering, even in the face of adversity. “We urge the military high command and security agencies to provide immediate clarity on Olatunji’s whereabouts and the circumstances surrounding his arrest. “If there are concerns regarding national security, formal channels of communication should have been pursued, rather than resorting to arbitrary and alarming methods reminiscent of repressive regimes.” FirstNews said while it cannot link the abduction to a publication on the defence chief, the timing raises questions. “FirstNews remains steadfast in demanding justice and accountability for our colleague. We stand united in our commitment to press freedom and the pursuit of truth, regardless of the challenges we face,” the statement reads.

  The police in Borno confirmed on Monday that a suicide bomber injured two persons in Biu Local Government Area of the state. ASP Daso Nahum, the command’s Public Relations Officer (PPRO), confirmed the incident to the News Agency of Nigeria (NAN) on Monday. Nahum said that the incident occurred at about 8 p.m. on Sunday, when the Muslim faithful were observing their night prayers.   ”The male suicide bomber, who was suspected to be heading to the mosque, detonated the Improvised Explosive Device (IED) close to the roundabout, killing himself. ”Two passersby who were wounded by the explosive were immediately rushed to a hospital for treatment. ”A combined team of security personnel were immediately deployed to the scene of the incident to restore normalcy,” he said. The spokesman, urged the people to heighten their level of vigilance, especially during this period of Ramadan when most Muslim faithful are observing late-night prayers. ”People should make sure that they are vigilant and should not hesitate to report any suspicious moves to the security agencies,” he said.

  A Federal High Court in Abuja has ordered Binance Holdings Limited to provide the Economic and Financial Crimes Commission with comprehensive information on all persons from Nigeria trading on its platform. The court handed down the order in an ex-parte motion filed by the EFCC demanding information about Nigerians trading on Binance. The suit marked: FHC/ABJ/CS/259/2024 and dated February 29 according to the anti-graft agency was brought pursuant to Sections 6(b), (h), (I), 7(1), (a)(2), and 38 of the Economic and Financial Crimes Establishment Act, 2004 and Section 15 of the Money Laundering (Prevention and Prohibition) Act, 2022 (as amended). In the affidavit in support of the motion deposed to by an operative of the EFCC, Hamma Bello, he stated that the Special Investigation Team of the commission domiciled in the Office of the National Security Adviser received intelligence that money laundering and terrorism financing was carried out on Binance. He said, “The Special Investigation Team of the commission domiciled in the Office of the National Security Adviser received an intelligence stating the nefarious activities (money laundering and terrorism financing) on Binance, a cryptocurrency exchange platform. “That on receipt of the intelligence, the team began an investigation by conducting surveillance of the activities of the platform. “The team uncovered users who have been using the platform for price discovery, confirmation, and market manipulation, which has caused tremendous distortions in the market, resulting in the Naira losing its value against other currencies” Bello also said the team uncovered some users whose activities on Binance resulted in the country’s currency losing its value against other currencies. He said, “That the team uncovered users who have been using the platform for price discovery, confirmation and market manipulation which has caused tremendous distortions in the market, resulting in the Naira losing its values against other currencies. “That the damage the platform has caused was clearly explained to the operators of the platform, and they were requested to delist the Naira and avail the ONSA on the activities of the Nigerians on their platform. “That from the information afforded to the team by Binance shows trading volume from Nigeria in 2023 alone stood at $21.6bn. “Attached and marked as Exhibit EFCC 1 is a copy of the document from Binance to the ONSA stating this fact amongst others. “That the commission will ensure that investigation is conducted within such reasonable time,” Bello stated that the requested data would help the commission complete its investigation. According to a certified true copy of the ruling, which was delivered on February 29 but sighted by journalists on Monday, Justice Emeka Nwite granted the interim order. Nwite said, “The applicant’s application dated and filed 29th February 2024 is hereby granted as prayed. “That an order of this honourable court is hereby made directing the operators of Binance to provide the commission with comprehensive data/information relating to all persons from Nigeria trading on its platform.” Binance is an online exchange where users can trade cryptocurrencies. The Central Bank of Nigeria Governor, Olayemi Cardoso, at a press briefing after the 293rd meeting of the Monetary Policy Committee in Abuja on February, disclosed that more than $26bn was channelled through Binance without traces in the last one year. Financial Times had on February 28 reported that two executives of the company were arrested and detained after they flew into the country as a result of a ban on their website. On March 12, 2024, the FT reported that the EFCC asked Binance to share data on its 100 top users in Nigeria as well as all transaction history for the past six months. According to the report, the request is at the centre of negotiations between Binance and Nigeria.

  Terrorists on Sunday night kidnapped 87 people after launching a fresh attack on the Kajuru-Station community in Kajuru Local Government Area of Kaduna State. A member of the Kajuru-Station Youths, Harisu Dari, confirmed the incident to our correspondent on Monday in Kaduna. Harisu said the terrorists also broke into some shops and stole food items and other valuables. He said they invaded the village around 10 pm. The attack came barely two days after 15 women and a man were abducted in the Dogon-Noma community of the same local government. Kajuru and Chikun LGs had in the past two weeks become the hotbed of kidnapping, causing tension in the state. Harisu explained that no contact has been established yet with the 87 locals abducted on Sunday night. As of the time I visited the community this morning, security operatives have not been drafted to help restore the confidence of the villagers. “The villagers are traumatic with the sad development. The government needs to re-strategise in tackling these terrorists,” he said. PUNCH Online reports that the terrorists had in two weeks kidnapped over 172 villagers. When contacted, the state Police Public Relations Officer, ASP Mansir Hassan, did not respond to calls or a text message sent to him by our correspondent as of the time of filing this report.

  Monday 18 March 2024 Soldiers killing: Tinubu, Senate order manhunt for killers, troops comb warring communities Senate warns against supplementary budget, excess loans Chinese man accused of murder attempt in Ogun flees MoU with UK firm on rail project not binding – FG Textile import, seven others gulp N1.4tn after CBN ban reversal Bandits Kidnap 14 In Fresh Kaduna Attack Putin Wins Russian Presidential Poll, Secures Another Six-Year Term Atiku, Obi Condemn Killing Of Soldiers In Delta, Seek Culprits’ Prosecution I Haven’t Received Any Salary As Governor, My Wife Has No Official Car – Soludo NDLEA Arrests Hair Stylist, Dispatch Rider For Allegedly Selling Drug-Laced Chin-Chin To Students I Received N1bn For Constituency Projects – Ned Nwoko Civilian JTF Kills Renowned Bandit Leader In Katsina Customs Reopens Kamba Land Border In Kebbi Reinstate Ningi Immediately, SERAP Tells Akpabio Delta killings: Troops occupy Okuama, raze more buildings How FG funds petrol subsidy through crude oil sales proceeds High cost of iron rods: Engineers now build with bamboo Stock market sustains bullish trend as investors gain N2.1trn Disquiet In CBN As Cardoso Retires ‘Emefiele’s Directors’ Zamfara Varsity Abduction: We’re Not Aware Of Our Children’s Release – Parents 4 Feared Killed In Kogi Communal Clash Youth Minister Flags Off Distribution Of Ramadan Items For FCT Youths NIMC assures Nigerians of data security NBC approves 1st children’s TV in Nigeria Visit a newspaper stand this morning, buy and read a copy for yourself…

  Vladimir Putin has secured another six-year term as Russian president, exit polls showed Sunday, paving the way for the hardline former spy to become the longest-serving Russian leader in more than 200 years. Victory for the 71-year-old was never in doubt, with all his major opponents dead, in prison or exiled, and authorities waging an unrelenting crackdown on those who publicly oppose the Kremlin or its military offensive on Ukraine. The government-run VTsIOM pollster projected that Putin had sailed to an easy victory with 87 percent of the vote after polls closed in Russia’s western-most region of Kaliningrad on the Baltic Sea. The three-day election was marked by a surge in deadly Ukrainian bombardments, incursions into Russian territory by pro-Kyiv sabotage groups and vandalism at polling stations. The Kremlin had cast the election as moment for Russians to throw their weight behind the full-scale military operation in Ukraine, where voting is also being staged in Russian-controlled territories. Kyiv and its allies slammed the vote as a sham and President Volodymyr Zelensky lashed out at Putin as a “dictator” who was “drunk from power”. “There is no evil he will not commit to prolong his personal power,” Zelensky said in a message on social media. Ukrainian ally Poland said the vote was not “legal, free and fair,” in a statement issued by the foreign ministry. EU chief Charles Michel had sarcastically congratulated Putin on his “landslide victory” on the first day of polls opening on Friday. Allies of the late Alexei Navalny — Putin’s most prominent rival, who died in an Arctic prison last month — had urged voters to flood polling stations at noon and spoil their ballots for a “Noon Against Putin” protest. His wife, Yulia Navalnaya, was greeted by supporters with flowers and applause in Berlin. She said she had written her late husband’s name on her ballot after voting at the Russian embassy. Some voters in Moscow appeared to heed Navalny’s call, telling AFP they had come to honour his memory and show their opposition in the only legal way possible. “I came to show that there are many of us, that we exist, that we are not some insignificant minority,” said 19-year-old student Artem Minasyan at a polling station in central Moscow. Leonid Volkov, a senior aide to the late opposition leader who was recently attacked in Lithuania where he fled political persecution in Russia, dismissed the results published by Moscow. The percentages drawn for Putin have, of course, not the slightest relation to reality,” Volkov, Navalny’s former chief of staff wrote on social media. Former Russian leader Dmitry Medvedev meanwhile congratulated Putin on his “splendid victory” long before the final results were due to be announced. And state-run television praised how Russians and rallied with “colossal support for the president” as well as the “unbelievable consolidation” of the country behind its leader. Tributes to Navalny At Navalny’s grave in a Moscow cemetery, AFP reporters saw spoiled ballot papers with his name scrawled across them on a pile of flowers. Navalny had galvanised mass protests and tried to run against Putin in the 2018 election — touring Russia to drum up support — but his candidacy was rejected. “We live in a country where we will go to jail if we speak our mind. So when I come to moments like this and see a lot of people, I realise that we are not alone,” said 33-year-old Regina. There were repeated acts of protest in the first days of polling, with a spate of arrests of Russians accused of pouring dye into ballot boxes or arson attacks. Any public dissent in Russia has been harshly punished since the start of Moscow’s offensive in Ukraine on February 24, 2022 and there were repeated warnings from the authorities against election protests. The OVD-Info police monitoring group announced that at least 80 people had been detained across nearly 20 cities in Russia for protest actions linked to the elections. A surge in Ukrainian strikes on Russia continued unabated with the Russian defence ministry reporting at least eight regions attacked overnight and on Sunday morning. Fatal border attacks Three airports serving the capital briefly suspended operations following the barrage, while a drone attack in the south sparked a fire at an oil refinery. In Russia’s border region of Belgorod, multiple rounds of shelling killed two — a man and a 16-year-old girl — and wounded 12 more, the region’s governor said Sunday. Eight more were wounded in other bombardments later as polls were closing, he said. The governor had already ordered the closure of shopping centres and schools in Belgorod and the surrounding area for two days because of the strikes. In the Russian-controlled territory of Ukraine’s Zaporizhzhia region, where voting is also taking place, “kamikaze drones” set a polling station ablaze, according to the Moscow-installed authorities. ‘Difficult period’ Putin, a former KGB agent, has been in power since the last day of 1999 and is set to extend his grip over the country until at least 2030. If he completes another Kremlin term, he will have stayed in power longer than any Russian leader since Catherine the Great in the 18th century. In a pre-election address Putin said Russia was going through a “difficult period” and called on the country to be “united and self-confident.” A concert on Red Square is being staged on Monday to mark 10 years since Russia’s annexation of Ukraine’s Crimea peninsula — an event that is also expected to serve as a victory celebration for Putin. AFP