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Communication Minister Pegs Tariff Increment at 60% Maximum

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The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, on Wednesday hinted that the tariff hike to be approved by the Nigerian Communications Commission (NCC) should be between 30 and 60 per cent threshold.

Tijani reiterated that NCC would not approve a 100 per cent hike, stressing that it would be a burden on the people at a time the economy is struggling.

The minister, who said this, noted that the final decision on the hike is still based on the outcome of the Sustainability Report conducted by KPMG and Simon Cooper, which according to him, should be made public anytime soon.

Speaking on ChannelsTV Politics Today, he said the ministry is doing everything possible to ensure Nigeria experienced improved connectivity across all devices.

Tijani said he’s engaging the industry to ensure that all players within the layers contribute their quota to developing the country adequately.

While assuring that services will also improve when tariff is increased, the minister said operators will not be allowed to take Nigerians for granted.

He however, informed that the operators are going through a lot in ensuring services are up and doing, infrastructure are in place, noting that telcos still face issues of vandalism, theft, rising energy cost, foreign among other challenges in the country.

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EFCC to Arraign Oba Otudeko, Onasanya, Others for Alleged N12.3bn Fraud

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The Economic and Financial Crimes Commission (EFCC) has filed a 13-count criminal charge against the Chairman, Honeywell Group, Oba Otudeko and a former Managing Director of First Bank, Olabisi Onasanya for allegedly obtaining the sum of N12.3billion from First Bank.

They are to be arraigned on Monday, January 20, 2025, before Justice Chukwuejekwu Aneke of the Federal High Court, Lagos.

They will be arraigned alongside, a former member of the board of directors of Honeywell Flour Mills Plc, Soji Akintayo and a company linked to Otudeko, named Anchorage Leisure Ltd.

All four were listed as defendants in the suit filed by an EFCC prosecutor, Bilkisu Buhari-Bala on January 16, 2025.

According to the EFCC, the four committed the fraud in tranches of N5.2billion, N6.2billion, N6.150billion, N1.5billion and N500million, between 2013 and 2014 in Lagos.

In proof of the charge against the defendants, the EFCC intends to call representatives of First Bank including Cecelia Majekodunmi, Ola Michael Aderogba, Abiodun Olatunji, Raymond Eze, Abiodun Odunbola and Adeeyo David all of whom are expected to give evidence of the fraudulent misrepresentation of the Defendants and tender relevant documents.

The EFCC will also rely on the testimonies of representatives of Central Bank of Nigeria, representatives of Stallion Nigeria Limited and representatives of V-tech Dynamics Ltd.

Also included in the EFCC’s list of witnesses are one Farida Abubakar and Adaeze Nwakoby.

According to the Commission, the offences contravene Section 8(a) of Advance Fee Fraud and Other Fraud Related Offences Act 2006 and were punishable under Section 1 (3) of the same Act.

Count 1 of the charge says that Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited between 2013 and 2014 in Lagos, within the jurisdiction of this Honourable Court conspired amongst  yourselves to obtain the sum of N12,300,000,000.00 (Twelve Billion, Three Hundred Million Naira Only),from First Bank Limited on the pretence that the said sum represented credit facilities applied * for by V- Tech Dynamic Links Limited and Stallion Nigeria Limited, which representation you know to be false, and you thereby committed an offence contrary to Section 8(a) of Advance Fee Fraud and other Fraud Related Offences Act 2006 and punishable under Section 1(3) of the same Act.

In Count 2, it was alleged that the defendants, on or about 26th day of November, 2013 in Lagos, “obtained the sum of N5.2 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V Tech Dynamic Links Limited which representation you know to be false.”

The 3rd count claims that the defendants, between 2013 and 2014 in Lagos, obtained N6.2 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for and disbursed to Stallion Nigeria Limited, which representation you know to be false.”

County 4 reads, that you, Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited on or about 26th day of November 2013 in Lagos, within the jurisdiction of this Honourable Court conspired amongst yourselves to use the total sum of N6,150,000,000,.00 (Six Billion, One Hundred and Fifty Million Naira Only.), which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretence and you thereby committed an offence contrary to Sections 18(a), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.

Count 5 accuses Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited on or about 11th day of December, 2013 in Lagos, procured Honeywell Flour Mills Plc to retain the sum of N1.5 billion, which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretence and you thereby committed an offence contrary to Section 18(c), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.

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Tinubu’s Govt Replies Sanusi, Advises Emir to Rise Above Personal Interest

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The Federal Government has responded to recent remarks by Emir Muhammadu Sanusi II regarding the economic reforms implemented under President Bola Ahmed Tinubu’s administration. The Emir, speaking at a public event in Lagos, acknowledged the initiatives but stated he had chosen “not to help the government” by offering his endorsement.

In a statement released on Thursday by the Minister of Information and National Orientation, Mohammed Idris, the government acknowledged Sanusi’s right to express his views, defended its policies, emphasizing that Nigeria is at a critical juncture requiring bold and transformative actions to address entrenched economic challenges. The statement highlighted key achievements, including exchange rate unification, the removal of fuel subsidies, and a reduction in the debt service-to-revenue ratio.

“These reforms are not being implemented because they are easy but because they are essential for Nigeria’s long-term stability and growth,” the statement read. It further noted that global institutions like the World Bank have projected positive growth for Nigeria’s economy, affirming that the country is on a path to recovery.

The government expressed disappointment over Emir Sanusi’s perceived reluctance to constructively support these reforms despite his economic expertise. “It is deeply disappointing that reforms widely recognized as essential by global experts—including Emir Sanusi II himself—are now being subtly condemned because of a shift in loyalty,” the statement added.

The government called on leaders, including Emir Sanusi, to prioritize the nation’s collective good over personal interests or partisan sentiments. “Rebuilding Nigeria requires unity, focus, and sacrifice from all stakeholders,” the statement emphasized. “This administration urges esteemed leaders to refrain from rhetoric that undermines public trust.”

President Tinubu’s administration reaffirmed its commitment to fostering economic inclusivity and sustainability. The government pledged to remain open to dialogue with stakeholders while focusing on policies aimed at improving the lives of Nigerians.

“Let history record this moment as a turning point—when leaders and citizens alike choose to prioritize the nation’s destiny over personal gain,” the statement concluded.

Eonsintelligence

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Economic Challenges: I Won’t Offer Any Advice, Emir Sanusi Tells Tinubu

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Emir of Kano, Muhammadu Sanusi II, has declared that he will not offer any advice to President Bola Tinubu’s government on how to tackle the economic challenges facing the country.

The emir stated this on Wednesday during the 21st Memorial Lecture of Chief Gani Fawehimi held in Lagos.

Speaking as chairman of the event, Sanusi stated that he started by helping the government, but he has now resolved not to help the government anymore.

He said: “I can give a few points here about what we are going through and how it was predictable and avoidable. But I am not going to do that. I have chosen not to speak on the economy, or reforms, or to explain anything because if I do, it will help this government. But I don’t want to help this government. They are my friends, but if they don’t behave like friends, I won’t behave like a friend.”

Emir Sanusi added: “They don’t even have people with pedigree that can come and explain to the people what they are doing. I am not going to help. I started by helping, but I am not going to help. Let them come and explain to Nigerians why they are pursuing the policies that they are pursuing.

“But I will say this one thing though. What we are going through today is at least in part, a necessary consequence of decades of irresponsible management. People were warning that if we continued the way that we were going, this is how we will end up but they refused to listen.

“Now, is everything being done correctly? No! When I am ready to talk about the economy, I will.”

Sanusi also charged lawyers to emulate the virtues of the late Gani Fawehinmi whom he described as an embodiment of good character now lacking in the legal profession.

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