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Rights group asks President Buhari not to allow sale of Polaris Bank

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Rights group asks President Buhari not to allow sale of Polaris Bank

***Warns of negative consequences on APC in 2023

By John Danjuma

The Human Rights Writers Association of Nigeria, (HURIWA) has called on President Muhammadu Buhari, not to allow plot to sell a Commercial Bank (Polaris Bank) as reported in a section of the media.

A news platform had reported that the CBN had allegedly proceeded with the secret sale of the distressed bank.

The civil rights advocacy group said if the Commercial Bank is sold it will not only compound the harsh economy Nigerians were going through but negatively affect the electoral fortune of the ruling All Progressives Congress (APC) in 2023 general elections.

Although the management of Polaris Bank Limited had debunked reports, describing it as a “fake news report”, urging the public to disregard it.

The Bank through a statement described the report as speculative and deliberately intended to create panic.

But a statement of caution released by Tuesday in Abuja by the national coordinator of HURIWA, Emmanuel Onwubiko, criticised the alleged lack of transparency and the shadiness in the reported sale of Polaris Bank allegedly by the CBN.

While calling on the President to avoid negative effect of such move against the APC, HURIWA said: “President Buhari should stop the illegal sale of the bank immediately. The CBN governor has apparently been misinforming the President to approve ridiculous sales just as he wrongly advised the President to approve the sale Exoon Mobil to Seplat and the attendant bank and forth.

READ ALSO: Buhari May Not Serve Out His Tenure, Unless – Ezenwankwo

“Recall that Emefiele was also allegedly fingered in the ridiculous sale of 104-year-old Union Bank by two-year-old Titan Trust Bank.

“The Economic and Financial Crimes Commission should have probed the CBN governor over this allegation which is contrary to Sections 9 and 11 of the CBN ACT 2007 but as usual, the former presidential aspirant of the All Progressives Congress, is an untouchable cabinet member of President Muhammadu Buhari.

“The CBN should be stopped from allegedly selling off banks in the country to cronies and friends as end-of-tenure benefits.”

The statement also called on the apex bank to issue a statement statement on the position of the bank on the matter in order to douse tension among the customers and stakeholders of the Bank.

According to HURIWA, “It is concerning that the so-called sale lacks transparency and is shrouded in so much darkness as no due diligence was not carried out, no tender, no advertisement to create public awareness, nothing, just some kangaroo and arrangee sale.

“To be exact, selling a bank which over N1.2 trillion was used to rescue at an alleged N40 billion is highly ridiculous and scandalous.”

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Adeleke, Sanwo-Olu Jaw-Jaw Over Lagos’ Deportation To Osun

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Osun State Governor, Senator Ademola Adeleke has been in strong conversations with his Lagos State counterpart, Babajide Sannwo-Olu over the alleged deportation of Osun indigenes from Lagos.

A statement from the government of Osun State highlighted that Sahara Reporters had on Saturday published a story about several luxury buses dropping hundreds of youth at Ilesa after allegedly rounding them up in several parts of Lagos State.

According to the statement, “The report was confirmed by an investigation team set up to confirm the veracity of the story by the Osun State Government.”

This, it was gathered has prompted strong conversations between the governors of the two states, which led to the Sanwo-Olu assuring that the matter would be thoroughly investigated.

On the authenticity of the report, Osun State, declared, “The state team reported that eye witness accounts confirmed the dropping of the youths in several luxurious buses by a team suspected to be from Lagos State.

“The state’s report showed that the youths were systematically dropped at Ilesa-Akure Express junction, Breweries; Ilesa – Ibodi – Iginla to Ife Express junction; Osun Ankara Express junction; Imelu Express junction; and Iperindo Express junction.”

It was gathered that Gov Adeleke expressed shock at the development, urging Governor Sanwoolu to look into the matter and put an end to it if the report is true.

Gov Adeleke said, “I spoke with my brother, Governor Sanwo-Olu on the matter. He too was surprised and he denied ever authorizing any such action.

“Governor Sanwo-Olu has promised immediate investigation to unravel the facts of the situation. The Lagos team will update us as quickly as possible.

“I am subsequently directing our security agencies in Osun to mount surveillance in and around Ilesa to track the deported youths and their destinations.

“I will update our people on this development. I urge residents to be calm while the security agencies carry out surveillance.”

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Chaos As Edo Speaker Suspends Shaibu’s Ally, Two Others

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In response to allegations of a conspiracy to impeach him and other high-ranking officials of the Assembly, Speaker Blessing Agbebaku of the Edo State House of Assembly took decisive action on Monday by suspending three lawmakers.

Among those suspended is Donald Okogbe, representing the PDP in Akoko-Edo II constituency, who notably refrained from endorsing the petition that resulted in the impeachment of Deputy Governor Philip Shaibu, a close ally.

The other two lawmakers he suspended are Addeh Emankhu Isibor of the APC representing Esan North-East I, and Iyamu Bright, representing the PDP in Orhionnwon II.

Agbebaku also alleged that the trio had arranged for the presence of traditional healers at the Assembly premises on May 1st, around 1 am, purportedly for ritualistic purposes.

Agbebaku declared the indefinite suspension of the three lawmakers, asserting that external influences were driving them to disrupt proceedings and oust the Assembly’s leadership.

However, the suspension sparked tension within the House as the affected lawmakers vehemently protested against their suspension.

During a chaotic session, the three suspended lawmakers vocally objected, arguing, “Mr. Speaker, you lack the authority to unilaterally suspend any member(s) of the house. You must put it to a vote. Let the members vote on the issue.”

Following the commotion, the Speaker abruptly adjourned the plenary session.

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JUST IN: Ikeja DisCo Reduces Tariffs For Band A Customers

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In a significant development, the Ikeja Electricity Distribution Company (IKEDC) has announced a tariff reduction for its Band A customers.

Effective immediately from Monday, May 6, 2024, customers in Band A will see their tariff lowered to N206.80 per kilowatt-hour, down from the previously approved rate of N225/kWh by the Nigerian Electricity Regulatory Commission.

This decision, disclosed by IKEDC spokesperson Olufadeke Omo-Omorodion on Monday, marks a proactive measure by the company to provide relief to its Band A customers.

Notably, while this adjustment ensures a minimum of 20-hour daily power supply for those on Band A feeders, tariffs for customers on other bands remain unchanged.

IKEDC said “Dear Esteemed Customers, please be informed of the downward tariff review of our Band A feeders from N225/kWh to N206.80/kWh effective 6th May 2024 with guaranteed availability of 20-24hrs supply daily. The tariff for Bands B, C, D, and E remains unchanged.”

Recalls that on April 3, the Nigerian Electricity Regulatory Commission (NERC) revised the electricity tariff for Band A customers dramatically, soaring from N68 per kilowatt-hour to N255/KWh. It’s worth noting that this tariff hike did not affect other customer categories.

Since the release of the supplementary Multi-Year Tariff Order, consumers categorized as Band A have been expressing discontent, citing the significant impact of the tariff increase on their finances.

They have been calling on the Federal Government to reconsider this policy.

However, during an investigative hearing before the Senate Committee on Power last Monday, the Minister of Power, Adebayo Adelabu, issued a stark warning.

He emphasized that if the electricity tariff hike was not implemented, the nation could face a total blackout within the next three months.

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