Nigeria Times

Finance Minister Wale Edun and Oando Group President Wale Tinubu recently met with Afreximbank President Prof. Benedict Oramah at the World Bank-IMF Annual Meetings in Washington, D.C. The discussions centered on supporting Nigeria’s economic reform agenda, with a focus on advancing energy and trade sectors.

Edun expressed gratitude for Afreximbank’s $3 billion crude oil repayment facility provided to the Nigerian National Petroleum Company Limited, describing it as crucial for stabilizing Nigeria’s economy and facilitating fiscal reforms. He reiterated Nigeria’s dedication to economic growth through strategic partnerships and expressed hopes for further collaboration with Afreximbank in key areas like energy, infrastructure, and trade.

Prof. Oramah affirmed Afreximbank’s ongoing commitment to Nigeria’s economic development, pledging continued support in overcoming challenges and promoting sustainable growth. Wale Tinubu added that collaborations like this are essential for fostering economic recovery, lifting millions from poverty, and positioning Nigeria strongly on the global economic stage.

Following the dismissal of money laundering charges by the Nigerian government, Tigran Gambaryan, a senior executive at Binance Holdings, was evacuated from Nigeria aboard a US aircraft equipped with medical facilities, according to The New York Times. Gambaryan, detained since February over alleged naira manipulation, was released on Wednesday after diplomatic discussions between US and Nigerian officials.

During his detention, Gambaryan reportedly experienced severe health issues, including malaria, double pneumonia, and a herniated disk, necessitating urgent medical care. His wife, Yuki Gambaryan, had repeatedly appealed to Nigerian authorities about his deteriorating health, influencing the decision for his release and medical evacuation.

The case intensified after Nadeem Anjarwalla, a Binance regional manager and co-detainee, escaped custody in March, leaving Gambaryan to navigate the legal proceedings alone. US Secretary of State Antony Blinken commented that Gambaryan’s release reflects the collaborative efforts between the US and Nigeria.

Governor Dikko Umar Radda of Katsina State has announced that his administration is empowering residents to defend themselves against banditry by providing training programs. In an interview with the BBC Hausa service, Radda explained that many communities in Katsina have become less accessible to bandits due to the proactive measures taken by locals.

Radda emphasized that the current number of security operatives in Nigeria is insufficient to combat the escalating insecurity. He highlighted the importance of self-defense and community involvement in augmenting the efforts of conventional security forces. His administration has initiated training programs for local youth to equip them with the skills needed to protect their communities before security operatives can respond to threats.

“We are not advocating for people to take up arms indiscriminately. What we are saying is that the existing security personnel are not enough to ensure the safety of all citizens,” Radda stated. He called on communities to contribute their youth for training, which has already begun to yield positive results, as evidenced by the increased safety in several areas.

Radda lamented the ease with which small groups of armed bandits can instill fear in larger populations, stating, “It is unfortunate how three or four boys with a gun or two could wreak havoc in a community of 500 or 1,000 or 2,000 people.”

To address this challenge, Radda’s administration established the “Katsina Community Watch,” recruiting and training local youth, and providing them with operational tools to support the efforts of security agencies in maintaining peace and order in the state.

1. Jonathan Reflects on Emotional Toll of 2015 Election Loss
   Former President Goodluck Jonathan opened up about the emotional difficulty he experienced after losing the 2015 election. Speaking at the Raymond Dokpesi Annual Diamond Lecture, Jonathan recounted feeling as though the world turned against him, but acknowledged support from media mogul Raymond Dokpesi.
2. Obasanjo: “$70 Billion I Left in Nigeria’s Coffers Has Vanished”
   Former President Olusegun Obasanjo voiced his concern over Nigeria’s financial state, revealing he left $70 billion in reserves in 2007, which has since dissipated. He criticized current leadership, pointing out Nigeria now has more debt than when he first took office.
3. Pray for Tinubu to Succeed, Says Wike
   Minister of the Federal Capital Territory, Nyesom Wike, called on Nigerians to pray for President Bola Tinubu’s success. During a road project inauguration in Abuja, he praised Tinubu’s dedication to fulfilling his campaign promises.
4. Senate to Begin Ministerial Nominee Screening on Tuesday
   The Senate will commence screenings next Tuesday for seven ministerial nominees from President Tinubu. The candidates include notable figures for roles in Humanitarian Affairs, Foreign Affairs, and Housing.
5. Tinubu’s Decision to Dismiss Five Ministers Explained
   Fresh insights reveal President Tinubu’s decision to dismiss five ministers stemmed from performance reviews and public feedback. The presidency stated the move aims to boost efficiency in government.
6. Defence Minister Vows Tinubu’s Support in Fighting Insecurity
   Minister of Defence Badaru Abubakar assured troops in Katsina that President Tinubu is fully committed to providing resources necessary to curb insecurity, urging military personnel to continue their efforts against banditry.
7. House of Representatives Challenges CBN on Old Naira Note Validity
   Lawmakers criticized the Central Bank of Nigeria over confusion regarding old naira notes’ validity. Representative Afam Ogene called for CBN clarity, with a report on the matter expected soon.
8. IMF Confirms Nigeria Hasn’t Requested Financial Aid
   The IMF confirmed that Nigeria has not sought financial assistance, addressing rumors. IMF Director Abebe Selassie explained that member countries have the right to seek funding if needed.
9. Politics Should be Free of Bitterness, Says Tinubu’s Aide
   Presidential aide Tunde Rahman emphasized that politics should avoid bitterness, speaking on the recent meeting between President Tinubu and PDP leader Atiku Abubakar, which took place at the National Mosque.
10. PDP Crisis Shouldn’t Center on Wike and Atiku, Says Ologbondiyan
    Former PDP spokesperson Kola Ologbondiyan expressed frustration over the party’s focus on Atiku Abubakar and Nyesom Wike in its ongoing crisis, advocating for broader effor.

The House of Representatives Committee on Public Assets has accused former Aviation Minister Hadi Sirika of involvement in the questionable sale of two helicopters by the Nigerian College of Aviation Technology (NCAT) in Zaria. According to a report by Saturday Punch, the Bell 206 helicopters were sold for N556 million, allegedly due to underutilization.

While former NCAT Rector Capt. Alkali Modibo asserted that the sale followed due process and involved a licensed auctioneer, the committee, led by Ademorin Kuye, questioned the transaction’s transparency. The helicopters, initially purchased for $2.4 billion, were sold for just $1.2 billion without Federal Executive Council approval.

The committee recommended further investigation and potential prosecution for those involved, urging the Inspector General of Police to question Sirika and the buyers, Blue Horn Aviation Services Limited and Premier Jet Service Limited. The Nigerian Army also expressed disappointment, revealing it was denied the opportunity to acquire the helicopters for its aviation operations.