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N20b Loan: Group Protests, Rolls Out State’s Indebtedness

Published

5 years ago

July 14, 2020

Group, Joint Forces for the Defence of Democracy (JOFDES) Monday, July 14, protested against alleged Edo State government plan to obtain N20b (Twenty billion naira) from the Nigeria Capital Market few weeks to the Edo State Governorship elections.

The group also alleged that the Godwin Obaseki-led government intends to obtain another $100Million and $150m loan from the World Bank respectively, just as it described the act as ” reckless, irresponsible and ignominious for the Obaseki-led state government to obtain another loan.”

Co-covener of the group, Kola Edokpayi and Felix Osemwengie Isere, Esq in a statement titled ‘we reject the attempt by Governor Godwin Obaseki to mortgage the future of Edo youths by his recent moves to obtain another N20b loan’, noted that the state’s domestic debt profile stands at N84.76 billion, hence it will amount to a calculated attempt by the Governor to mortgage Edo youths future.

” As if these are not enough, we have received reliable information that Godwin Obaseki also intends to obtain another $100Million loan from the World Bank.

“This loan, known as the performance for results loan which is awaiting board approval is aimed at funding the overblown Edo Best and Edo jobs projects. We the citizens are aware that Edo Best and Edo jobs projects are a mere facade and failed projects serving as conduit for siphoning funds for the coffers of the good people of Edo State

” The most shocking part of it is that Mr. Obaseki is considering these loans when Edo State currently services the $150Million credit obtained from the World bank in 2016 and 2017.

” This is the highest level of political and economic betrayal for the good people of Edo State who have entrusted her collective patrimony into the hands of the governor. It is most unfair and is a demonstration of the mortgage of the future of Edo people.

Joint Forces for the Defence of Democracy (JOFDES) protesting against Obaseki’s plan to obtain N20b loan on Monday in Benin

” We find this development not only worrisome, wicked, reckless, irresponsible and ignominious but a calculated attempt to completely mortgage the future of the youth and people of Edo State. This is totally obvious because Mr. Obaseki is fully aware that Edo State is already heavily overburdened by excess debts.

” At no time in the history of our dear state have we come under the volume of indebtedness that we face today”, the statement added.

While disclosing that the state is with the highest domestic debt in the South-South and second throughout the nation, noted that the governor has to ” answer reason why the state is indebted so high and other financial mismanagement.”

According to the protesters, with all the borrowing, citizens of the state have not seen any tangible project from the state government “apart from some renovations of already existing infrastructure and window dressing.”

” We have the highest external debt in the entire South-South with an external debt of $257.92 milliion as at March 2020.

” Second, we have the highest domestic debt in Nigeria, second only to Lagos State.

” We must get answers to these and other glaring cases of financial mismanagement that have become the hallmark of the Godwin Obaseki’s government

” Apart from the few renovation of already existing infrastructure and window dressing of already completed projects, we have not seen any landmark or gigantic legacy projects the Obaseki Government has done with funds accruing to the state”, they said.

The group called on President Muhammadu Buhari and other concerned authorities particularly Edo citizens to stop the loan from being approved, just as they added that if there’s any reason to obtain such loan, that should be considered after the election.

The group further said, ” We as a pro democracy group committed to defending the interest of Edo sons and daughters worldwide hereby call on the President of Nigeria, Secretary to the government of the federation, Hon Minister of state for budget and national planning, director general Debt Management Office (DMO) Abuja, the Chairman Senate and House of Representatives committees on local and foreign debts, the governor of the Central Bank of Nigeria, Senate President and speaker of the House of Representatives, DG of Nigerian Stock Exchange, Attorney General of the federation and all well-meaning Edo sons and daughters who have the future of our children at heart, to do everything within their powers to stop this loan from being approved for the governor of Edo State.

” However, if there is any genuine reason whatsoever to approve such a loan for Edo State, it can be considered after the forth coming Edo governorahip election to forestall the mismanagement of the funds under the tension that accompanies elections.”

However, in his reaction, Special Adviser to Obaseki on Media and Communication Strategy, Crusoe Osagie denied the allegation, just as he accused Pastor Osagie Ize-Iyamu of sponsoring the protest.

Protest against Obaseki’s plan to obtain N20b loan on Monday

” There is no such thing as N20 billion debt proposal by the Edo State Government, and Edo people cannot be distracted by such wild claim,” Osagie said.

Reacting to Crusoe’s allegation that the protesters were sponsored by Ize-Iyamu, Mr. John Mayaki, Chairman, Edo State APC Media Campaign Council said was insulting to the people of Edo State for the Governor’s Aide to attribute anger expressed by the citizens to Ize-Iyamu.

“It is ludicrous and insulting to the people of Edo State who are known for their agency and independence of thought, for Crusoe Osagie to suggest that the anger they expressed today on the streets of Benin over the 20 billion naira loan Obaseki is trying to obtain for his collapsing campaign was done at the behest of Pastor Osagie Ize-Iyamu.

“Is Crusoe suggesting that Edo youths cannot read the news, interpret it, and understand the implications of a failed government seeking loans toward the end of its tenure?” Mayaki said.

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NAFDAC Warns On Recalled U.S. Supplements

Published

3 hours ago

July 9, 2025

Editor

The National Agency for Food and Drug Administration and Control (NAFDAC) has alerted Nigerians about the recall of certain multivitamins and iron supplements in the U.S.

NAFDAC, via its official Twitter handle, stated that the affected vitamin brand is labelled as CINCINNATI (WKRC).

The agency noted that the supplements were sold across the U.S., including by major retailers such as Walmart and Amazon.

The recall was prompted by a “risk of serious injury or death” from poisoning, especially among young children, due to improper packaging.

NAFDAC cited a U.S. Consumer Product Safety Commission report, which revealed that 60,000 units were affected by the recall.

The recalled products include Daily Prenatal Multi, Ultamins Women’s Multivitamin, and Ultamins Women’s 50+ Multivitamin.

It was discovered that the products lacked child-resistant packaging, making them dangerous if accessed by young children.

“Without child-resistant packaging, children are at risk of fatal poisoning if they ingest these supplements.

“Even a few tablets of iron supplements can cause vomiting, stomach pain, low blood pressure, or liver damage in young children,” NAFDAC warned.

In severe cases, NAFDAC said, symptoms may escalate rapidly and could become life-threatening.

All zonal directors and state coordinators have been directed to monitor and remove the CINCINNATI (WKRC) products from circulation.

Distributors, retailers, healthcare providers, and caregivers are urged to remain vigilant to prevent the use or sale of the recalled items.

NAFDAC advised that any suspected cases of substandard or falsified medicines be reported to the nearest office or via 0800-162-3322, or sf.alert@nafdac.gov.ng.

News

FG Launches Phase 7 Of Kainji Mass Trials Of Terrorist Suspects

Published

3 hours ago

July 9, 2025

Editor

The Federal Government of Nigeria on Wednesday officially launched Phase 7 of the Kainji Mass Trials of terrorist suspects.

A statement by the strategic communications department of the office of the National Security Adviser ONSA, said “it is part of its continued commitment to combating terrorism, violent extremism, and strengthening the nation’s criminal justice system in line with international best practices”,

Speaking at the flag-off ceremony on Wednesday, the National Coordinator of the National Counter Terrorism Centre, Office of the National Security Adviser (ONSA), Major General Adamu Garba Laka, emphasised that the trials represent Nigeria’s unwavering pursuit of justice and a reaffirmation of its resolve to confront terrorism through lawful and transparent means.

He said, “It is truly encouraging to see the convergence of the Judiciary, law enforcement, legal practitioners, and partners, once again united in purpose and duty.

“These trials are a cornerstone of our national commitment to upholding the rule of law while addressing terrorism and violent extremism.”

General Laka noted that Nigeria has recorded significant successes in strengthening its criminal justice capacity to handle terrorism-related offences.

He further highlighted that recent progress in the prosecution of such cases has played a critical role in addressing concerns raised by the Financial Action Task Force (FATF).

“Indeed, the advancements made through these trials have greatly contributed to Nigeria’s efforts toward exiting the FATF Grey List,” he added.

On behalf of the National Security Adviser, Mallam Nuhu Ribadu, General Laka extended appreciation to the Federal Government, the Office of the Attorney General of the Federation and Minister of Justice, and the Justices of the Federal High Court for their professionalism and dedication to justice.

He also acknowledged the valuable support of international partners, investigators, legal teams, and support staff.

Representing the Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN), the Director of Public Prosecution of the Federation, Mohammed Babadoko Abubakar, commended the collaborative efforts of the ONSA and various local and international stakeholders for their ongoing support and contributions to the trials.

He reiterated the Federal Government’s determination to ensure justice is served to both victims and accused persons within a framework that respects the rule of law and human rights.

News

Lagos LG Poll: Police Restrict Movement Saturday

Published

3 hours ago

July 9, 2025

Editor

The Lagos State Commissioner of Police, Mr Olohundare Jimoh, has announced a 12-hour restriction on movement on Saturday across the state for the local government election.

He also ordered a massive deployment of personnel across the state.

Jimoh disclosed this in a statement signed by the command’s spokesperson, CSP Benjamin Hundeyin, in Lagos on Wednesday.

He said the deployment was to ensure a hitch-free exercise.

“Consultative Committee on Elections Security in Lagos State and other critical stakeholders in the election, putting into cognisance foremost public interest to enable adequate security, peaceful conduct and safety before, during and after the election, and also to effectively implement the robust security arrangements to protect and safeguard the election, the electorates, LASEIC officials and adhoc staff and electoral processes and other members of public not participating in the election, hereby wishes to announce and inform the general public in Lagos State of total restriction of vehicular movement throughout Lagos State from 3 am on Saturday 12th July, 2025 till 3 pm of same Saturday 12th July, 2025,” the statement read.

He added that elaborate security arrangements and comprehensive security measures have been put in place to ensure security, safety, and peaceful and orderly conduct of the LG elections.

“The command with other security and safety agencies is working together under the Inter-Agency Consultative Committee on Election Security.

“The restriction of vehicular movements will apply to all roads and waterways within the state jurisdiction,” he said.

He added that police escorts and armed security aides were strictly prohibited from accompanying their principals to polling units or collation centres.

The measure was to prevent any undue influence or intimidation during the election.

“Police escorts, covered number plates, and the use of sirens at or in the vicinity of polling units and collation centres are prohibited,” he said.

Jimoh said that only vehicles designated for essential services, such as ambulances, fire trucks, and patrol vehicles operated by security agencies in the ICCES, would be permitted to operate during the restriction period.

The commissioner added, “All other vehicles, including those belonging to any quasi-security outfit and state security agencies, are barred from movement, as no state-owned security agency is authorised to participate in the election security operations, in line with the electoral act.

“The movement restriction will not apply to essential services such as those on medical emergencies and other emergency responders and their workers, the duly accredited officials of the LASIEC and accredited election observers and media practitioners on election coverage accredited by LASIEC.

“These categories of groups and individuals are permitted to carry out their lawful duties during the election period, provided they adhere to all the relevant guidelines and regulations in the Electoral Act.”

He said that all the security agencies personnel and other stakeholders, including the media and election observers accredited by LASEIC for the election, would have and wear their identification tags certified by LASEIC throughout the period of the election.

“No one without the identification tag will be allowed to take part in the election. Anyone arrested without an identification tag will be investigated and prosecuted in line with the Electoral Act,” he said.

NAN