News
Obi to Tinubu: Where is our subsidy money?
President Bola Tinubu must be able to explain to Nigerians in clear terms the areas he is applying the money generated from the removal of the subsidy on Premium Motor Spirit (PMS), otherwise known as petrol, to justify his asking Nigerians to sacrifice more.
These was the argument of Peter Obi, presidential candidate of the Labour Party (LP), in the February 25, 2023 election, as he weighed in on the ongoing dust raised by the recent increase of the pump price of the commodity from N617 to N890 by the Nigerian National Petroleum Company Limited (NNPC).
Obi, former Governor of Anambra State, told News Central Television that since the President announced the removal of subsidy during his inaugural address, on May 29, 2023, there had been a lot of opaqueness surrounding the proceeds of the policy, adding that this must not be allowed to continue.
It was also at a point the LP leader, also spoke on Nigeria’s democracy with respect to advancing it to meet the expectation of the people adding that there was actually the need to adjust the current presidential system by introducing some shades of parliamentary elements in it to make it more wholesome.
His words: “We need more transparency and when you talk about transparency in figures, you show it, you demonstrate it. One plus one is two. It is not something you say, it’s just two because of. Tell us how you arrived at it and we’ll believe. When we talk about subsidy, I’ve continuously said, if we’re removing subsidy, what are we replacing it with? Where are we applying that subsidy we removed to?
“So, if you say to me, that I’ve removed subsidy, I’m going to use it to build this number of classrooms, to be able to pull out of school children into schools, so we can verify and follow and track those schools – we have issues in health, primary healthcare, especially the issue of infant mortality – removal of subsidy, will enable us to build this number of primary healthcare in this number of places, so that we can measure it.
“You don’t remove something without talking about where it is replaced and where we are moving our money to. Or that it is helping us to manage our debts. But, here we have fuel subsidy has been removed, the debt is increasing, and we’re not seeing anything.
Obi, who insisted that Nigerian leaders must embrace the full tenets of democracy, advocated for an infusion of parliamentary system in the mode of the government structure to be able to derive optimal gains based on accountability, openness and responsibility to the people.
His added: “We have to continue our journey on democracy. It is the government of the people by the people and for the people. However, we have to tweak it where we have some level of parliamentary system in it like it is in South Africa.
“We need to deal with the issue of more scrutiny in our expenditure, in our borrowing, in everything, to be able to ensure that our scarce resources are prioritised to areas of urgent need for development, from security, food and other areas.”
Seyi Makinde of Oyo State, Governor of Oyo State, on Thursday, finally threw his hats into the ring by declaring his intention to run for president in 2027, with a message – history beckons.
The governor, whose ambition has been a matter of speculations for months now and who had teamed up with forces angling to force President Bola Tinubu, out of power, told a teeming crowd in Ibadan on Thursday that time had come to reset Nigeria.
At a mega-rally to announce the alliance between the People’s Democratic Party (PDP), and the Allied Peoples’ Movement, (APM), Makinde, expressed worry over the dwindling fortunes of Nigerians, vowing to engage Nigerians to end the drift.
Hear him: “Without a multi-party system, there is no democracy. Where is our multi-party? Where do we go from here? We have been pushed to the wall.
“They calculated and self-opposition cannot unite but I am here to say that the opposition is the everyday Nigerian. This is the time for all us to ensure Nigeria works for us. This is the time to confront it fears. It is time to engage as citizens and not spectators.
“For the opposition political parties, this is the time to unite and work in unity and give our nation the much reset it needs. The time to reset Nigeria is now. Ibadan is the city of warriors. The first grand alliance is formed. The PDP and APM is formed. This handshake will allow us to field candidates from presidency to state Assembly. And so, I declare my candidacy for office of the president of Nigeria.”
Eyo Ekpe, a professor of cardiothoracic surgery at the University of Uyo Teaching Hospital (UUTH), on Wednesday, gave a detailed account on how operatives of the Economic and Financial Crimes Commission (EFCC) manhandled him on Monday.
He told reporters that he was at sea on why he should fall victim to the assault against his person and eventually arrested given that was not right person directly involved in the information the agency sought.
Some operatives of the EFCC who invaded the hospital, had whisked Ekpe away after firing teargas to scare away the workers, patients and visitors to the hospital, following what appeared like a fracas the ensued over what it claimed was a routine duty in the facility.
Ekpe, Deputy Chairman of the hospital’s Medical Advisory Committee (MAC), described how an operative had first entered his office to make inquiries on why the hospital was yet to give a response to an EFCC inquiry over a medical report linked to a suspect facing trial.
He detailed how he briefed the operative that the said response was being prepared and even went ahead to show him the draft of a letter in that regard, which needed to go through the gamut of official endorsement before being released.
Hear him: “The head of that internal medicine department looked at the report and also discovered that the name of the doctor that signed the report is not a member of staff of that department.
“I had prepared prepared a response to the EFCC on Monday, May 11, 2026, based on the findings. When the EFCC operative visited my office the next morning to collect the document, I told him that the response was ready in draft. I even showed him the draft, but told him that the document still needed approval from the Chief Medical Director (CMD) of the hospital before it could be officially signed and released.
“He pretended to have accepted that. He left, but later later returned with another armed operative and informed me that I was under arrest. I asked him why. I was not the one that issued the medical report. My name is not on the medical report. The report was not issued from my unit.
“But he said I would get the answer when I get to their office. I then asked him to at least wait for my staff member who I sent on an errand before joining them. But they refused.
“They started pushing me. They dragged me out of the office. Then I began to cry while they were dragging me. They had warned me not to speak. They had taken my phone. My cry as they were dragging me, attracted the workers to the scene, who enquired what was going on, but because they ordered me not to speak, I couldn’t say anything. They had their guns.
The members of staff of the hospital initially blocked them from taking me away. They then made a call. After that I saw many masked and armed men came violently, broke the protector, threatening the people that were around and people ran away.
“They picked some staff that were still by me. they dragged me and other staff, five of us into their van downstairs. By that time they discovered that the gate of the hospital were locked. So, they drove towards the gate and packed and the commotion continued. We were inside the van.
“I was so emotionally and psychologically traumatised that I couldn’t even look out of the vehicle to see what was happening outside. But I know that teargas and live bullets were shot. That’s all I can say for now.”
Joyce Abdulmalik, of the Federal High Court, Abuja, heard on Wednesday, how Zenith Bank raised alarm over the huge transaction in one of its branches by Abubakar Malami, former Attorney General of the Federation and Minister of Justice (AGF-MoJ).
The bank said it immediately filed a Suspicious Transaction Report (STR) in respect to the transactions, during its appearance in the ongoing trial of Malami, his wife, and son over allegation of massive looting of funds belonging to the Federal Government during his tenure.
Mashelia Bata, a compliance officer with the bank, who appeared as witness in the case, where Malami, et al, are facing a 16-count charge bordering on alleged money laundering to the tune of N8.7 billion, to which they pleaded not guilty, gave the testimony while being questioned on the bank’s roles in the matter.
Details of the testimony conveyed by the Economic and Financial Crimes Commission (EFCC), stated how the compliance officer who was cross-examined by Adebayo Adedeji, lawyer to the defendants admitted that the deposits in the account statements complied with the guidelines of the Central Bank of Nigeria (CBN).
Arguments had stretched when Adedeji, opposed Jibrin Okutepa (SAN), lawyer to the EFCC, who had asked the witness to explain the meaning of a suspicious transaction report, stressing that there was no ambiguity in the term.
However, Okutepa, in response, maintained that section 215(3) of the Evidence Act did not preclude him from re-examining the witness while urging the court to allow the question for proper explanation.
After Abdulmalik, agreed and overruled Adedeji, the witness told the court that banks were required to alert the Nigerian Financial Intelligence Unit (NFIU) about fund deposits coming in a repetitive pattern, adding: “Any deposition of funds seen in a pattern or repetitive, you must escalate it to the NFIU.”
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