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Fayemi, Fayose in thug of war over ban from holding Public office for 10years by Ekiti state Government

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6 years ago

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The Ekiti State Government has banned the Minister of Mines and Steel Development, Kayode Fayemi, from holding public office in the state for 10 years.

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The ban followed the indictment of Mr. Fayemi by a judicial commission of inquiry which probed his tenure as governor of Ekiti State between 2010 and 2014.

A white paper stipulating the ban was released Monday.

The state also banned Dapo Kolawole, who served as Commissioner for Finance under Mr. Fayemi.

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In a reaction, Mr. Fayemi dismissed the verdict of the white paper as “a joke taken too far”. He said it was “perhaps a joke of the century” that “shall not stand”.

He restated his position that the inquiry by the Ayo Fayose-led government was a “witch-hunt and victimisation”.

In the white paper, received by Mr. Fayose, the government also chided Messrs Fayemi and Kolawole for their refusal to appear before the commission even after the case filed at the High Court, challenging the setting of the commission, was decided in favour of the commission.

The report had accused Mr. Fayemi of diverting funds meant for the construction of various projects, for which the state is now indebted.

ThebCommissioner for Information, Lanre Ogunsuyi, while addressing journalists after the State executive council meeting on Monday, where the white paper was officially approved, said Messrs. Fayemi and Kolawole exhibited disrespect for a constituted authority, in spite of their “undignified” roles in administering the state during their tenure.

 

“They are banned from holding public office in Ekiti and any part of Nigeria,” he declared.

“Government views accountability and probity as hallmark of good governance. Therefore, the government decided to set up the Judicial Panel of Inquiry in line with its law enacted in 2012.

“The government viewed seriously the report and it intend to carry out all the recommendations in the report,” he said.

Other aspects of the white paper as read out by Mr. Ogunsuyi include urging Messrs. Fayemi and Kolawole to refund N2.7 billion they allegedly allocated for the execution of the contract for ultra-modern market, which was never executed.

The government further directed the Ministry of Justice to institute appropriate legal actions to effect the refund and follow up on necessary legal processes.

“His Excellency, Dr Kayode Fayemi and the Commissioner for Finance, Mr. Dapo Kolawole should be made to account for the difference of N340 million from the N1.5 billion earmarked from the bond proceeds for the upgrade of infrastructure at ikogosi warm spring which could not be accounted for,” the report stated.

Mr. Fayose, while responding to the recommendations of the white paper, justified the adoption of the recommendations of the report.

“We are doing what is right within the ambit of the law by appointing competent people for the assignment. We must be seen to be doing the right thing and it is not wrong to ask how the finances of the state have been appropriated within a given time and we are following due process,” he said.

“The APC government could probe this and that, even if you say they are biased, what can anyone do? I am not part of the panel that sat for the inquiry, they submitted the report to me and I presented it to appropriate organ and I will do the same with this document. This is not personal in anyway, we are only doing the right thing and following due process.

“The Presidency appointed Ibrahim Magu, and Professor Mamoud and these people are doing their work. The Federal Government also appointed judges, does this mean that these appointees would not do the right things?”

 

Mr. Fayemi dismissed the ban, saying, “The entire process and the character personae involved are discredited and since it is impossible to build something on nothing, legally speaking, their recommendation is not only null and void, it is ultra vires.”

“The attention of the Media Office of the Minister of Mines and Steel Development, Dr Kayode Fayemi, has been drawn to the pre-meditated verdict of the Ekiti State Government, as contained in the white paper submitted by the panel set up by Governor Ayo Fayose to investigate the finances of the state between 2010 and 2014,” the statement signed by his media aide, Yinka Oyebode, said.

“While we believe it is part of the responsibilities of the state administration to look into the finances of the state at any point in time, we are also of the belief that such must be done in a very responsible manner devoid of prejudice, witch hunting and a calculated attempt to victimise a citizen.

“In this particular case, the entire process is discredited right from the beginning, as the only agenda of the panel was to rubbish Dr. Kayode Fayemi’s public service record.

“One is therefore not surprised at the recommendations of the White Paper: It only goes to confirm our initial position that the panel was compromised right from inception and targeted against Dr. Fayemi.

“In his desperation, Governor Fayose chose the crude and ignoble path towards hitting a perceived political foe.

“In the process, they ignored the rule of law and behaved as if the court does not matter. Thus making their actions subjudice to the court.

“Fayose was however misguided into believing that he could pass a death sentence on Dr Fayemi’s public service with the white paper. This is not only laughable, but ridiculous, as neither Governor Fayose nor his paid agents has the power to bar anyone from political participation.”

Mr. Fayemi urged his supporters, the people of Ekiti State and the general public not to be disturbed by the development, adding that it was another act of illegality, from an administration that had “elevated political debauchery to state craft”.

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Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

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WEMA BANK ANNOUNCES CALL FOR ENTRIES FOR ITS YOUTH-FOCUSED HACKATHON, HACKAHOLICS 5.0*

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1 hour ago

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April 20, 2024

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*WEMA BANK ANNOUNCES CALL FOR ENTRIES FOR ITS YOUTH-FOCUSED HACKATHON, HACKAHOLICS 5.0*

 

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Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced the Call for Entries in the 5th edition of its flagship youth and startup-focused tech competition, Hackaholics. This announcement was made at the Press Conference held at Wema Bank’s Head Office on Thursday, April 18th, 2024, declaring the registration portal for Hackaholics 5.0 officially opened.
Hackaholics is an annual tech and innovation competition birthed by Wema Bank in 2019 to provide a platform for young Nigerians with tech-driven ideas to bring their game-changing ideas to life, scale their ventures or startups and access a wider market for these tech-enabled solutions. Over the past 4 editions, Hackaholics has transformed thousands of Nigerian lives and businesses, helping Youth with interests spread across different areas to build their own Startups, create sustainable sources of income and gain a competitive edge on the global tech and innovation scene. Through Hackaholics, Wema Bank has powered the launch and expansion of a plethora of Startups through Hackaholics, disbursing over N150,000,000 in cash prizes in just 4 editions.

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With the launch of Hackaholics 5.0, Wema Bank is reportedly pulling all the stops to make this edition the grandest ever. Themed “Meta-Idea: DigiTech Solutions for Africa’s Prosperity”, Hackaholics 5.0 will be executed over a six-month period, touring 10 Universities across the country and challenging the Youth to pitch unique, innovative and practical Digi-Tech solutions to positively impact the acceleration of progress, development and prosperity not just in Nigeria but across the African continent.
Encouraging Nigerian Youth to leverage Hackaholics as a launchpad to their success in the digital world, Wema Bank’s Chief Transformation Officer, Babatunde Mumuni, highlighted the bank’s vision for Hackaholics. According to him, “With the birth of ALAT, a few things became clear, one of which is that while we have adopted innovation and digital excellence as our path to greatness, we need talented bright minds to drive this innovation, and this is one of the reasons we launched Hackaholics. With Hackaholics, we are not only empowering these youth to scale but also funding STEM education towards national development. Also, we are strengthening our nation’s capabilities and providing a platform for creative and innovative youth to thrive. We are in search of people who are curious, who are innovative enough to question the status quo, refine the norm and challenge themselves to make things better. If this is you, then Hackaholics 5.0 is the perfect platform to help you thrive”.
Highlighting the career opportunities available in Hackaholics 5.0, Ololade Ogungbenro, the Divisional Head of Brands, People and Culture, said, “Nigeria possesses a vibrant population of young people who are digitally skilled and willing to leverage innovation and technology as a tool to build digital products that are usable, scalable, and sustainable. All they need is an opportunity, a platform, and the right nurturing environment for their talents to thrive. That is one value we hope to harness with Hackaholics 5.0. The pitch sessions across the different universities present a unique opportunity for us to double our impact to not only empower these youth to own their own Startups from as early as their undergraduate years, but further provide them with access to first-rate employment opportunities. Through the career fairs we will host, participants and attendees can interact with us, learn about the bank’s culture, values, and job opportunities, and gain insight into the banking industry and learn about various technology-related roles available in the Bank. They’ll also enjoy Speed mentoring and Networking opportunities, Interview Preparation and a chance to hone their soft skills. So, if you are a young person who is keen on building a thriving career in Tech, then attending, and actively participating in the Hackaholics Career Fair should be a top priority for you”.
Wema Bank’s Head of Innovation, Solomon Ayodele, concluded saying, “This year, you’re going to experience the Coachella of the tech industry at our Hackaholics 5.0 grand finale tech festival, and the journey begins today. We have a cash prize of over N70,000,000 for our winners this year and we are not limiting you to any specific verticals. Any verticals you can think of will be accepted. Our focus for Hackaholics 5.0 is the brilliance of your mind so we leave it to you to discover a problem area that matters and develop an innovative solution that will drive positive impact. Our goal is to birth solutions that address diverse aspects of real-world challenges, and you have the opportunity to be a part of this transformative journey. To submit your entry please visit https://hackaholics.wemabank.com/register”.
Wema Bank has transformed thousands of lives across Nigeria, facilitating the successful creation of hundreds of startups across the country through Hackaholics. With the bank’s impact constantly proliferating especially in the digital space, it is no wonder that Wema Bank is regarded as Nigeria’s foremost innovative bank.

Interested participants are encouraged to submit their registrations for Hackaholics 5.0 at https://hackaholics.wemabank.com/register.

WEMA BANK ANNOUNCES CALL FOR ENTRIES FOR ITS YOUTH-FOCUSED HACKATHON, HACKAHOLICS 5.0
Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced the Call for Entries in the 5th edition of its flagship youth and startup-focused tech competition, Hackaholics. This announcement was made at the Press Conference held at Wema Bank’s Head Office on Thursday, April 18th, 2024, declaring the registration portal for Hackaholics 5.0 officially opened.
Hackaholics is an annual tech and innovation competition birthed by Wema Bank in 2019 to provide a platform for young Nigerians with tech-driven ideas to bring their game-changing ideas to life, scale their ventures or startups and access a wider market for these tech-enabled solutions. Over the past 4 editions, Hackaholics has transformed thousands of Nigerian lives and businesses, helping Youth with interests spread across different areas to build their own Startups, create sustainable sources of income and gain a competitive edge on the global tech and innovation scene. Through Hackaholics, Wema Bank has powered the launch and expansion of a plethora of Startups through Hackaholics, disbursing over N150,000,000 in cash prizes in just 4 editions.
With the launch of Hackaholics 5.0, Wema Bank is reportedly pulling all the stops to make this edition the grandest ever. Themed “Meta-Idea: DigiTech Solutions for Africa’s Prosperity”, Hackaholics 5.0 will be executed over a six-month period, touring 10 Universities across the country and challenging the Youth to pitch unique, innovative and practical Digi-Tech solutions to positively impact the acceleration of progress, development and prosperity not just in Nigeria but across the African continent.
Encouraging Nigerian Youth to leverage Hackaholics as a launchpad to their success in the digital world, Wema Bank’s Chief Transformation Officer, Babatunde Mumuni, highlighted the bank’s vision for Hackaholics. According to him, “With the birth of ALAT, a few things became clear, one of which is that while we have adopted innovation and digital excellence as our path to greatness, we need talented bright minds to drive this innovation, and this is one of the reasons we launched Hackaholics. With Hackaholics, we are not only empowering these youth to scale but also funding STEM education towards national development. Also, we are strengthening our nation’s capabilities and providing a platform for creative and innovative youth to thrive. We are in search of people who are curious, who are innovative enough to question the status quo, refine the norm and challenge themselves to make things better. If this is you, then Hackaholics 5.0 is the perfect platform to help you thrive”.
Highlighting the career opportunities available in Hackaholics 5.0, Ololade Ogungbenro, the Divisional Head of Brands, People and Culture, said, “Nigeria possesses a vibrant population of young people who are digitally skilled and willing to leverage innovation and technology as a tool to build digital products that are usable, scalable, and sustainable. All they need is an opportunity, a platform, and the right nurturing environment for their talents to thrive. That is one value we hope to harness with Hackaholics 5.0. The pitch sessions across the different universities present a unique opportunity for us to double our impact to not only empower these youth to own their own Startups from as early as their undergraduate years, but further provide them with access to first-rate employment opportunities. Through the career fairs we will host, participants and attendees can interact with us, learn about the bank’s culture, values, and job opportunities, and gain insight into the banking industry and learn about various technology-related roles available in the Bank. They’ll also enjoy Speed mentoring and Networking opportunities, Interview Preparation and a chance to hone their soft skills. So, if you are a young person who is keen on building a thriving career in Tech, then attending, and actively participating in the Hackaholics Career Fair should be a top priority for you”.
Wema Bank’s Head of Innovation, Solomon Ayodele, concluded saying, “This year, you’re going to experience the Coachella of the tech industry at our Hackaholics 5.0 grand finale tech festival, and the journey begins today. We have a cash prize of over N70,000,000 for our winners this year and we are not limiting you to any specific verticals. Any verticals you can think of will be accepted. Our focus for Hackaholics 5.0 is the brilliance of your mind so we leave it to you to discover a problem area that matters and develop an innovative solution that will drive positive impact. Our goal is to birth solutions that address diverse aspects of real-world challenges, and you have the opportunity to be a part of this transformative journey. To submit your entry please visit https://hackaholics.wemabank.com/register”.
Wema Bank has transformed thousands of lives across Nigeria, facilitating the successful creation of hundreds of startups across the country through Hackaholics. With the bank’s impact constantly proliferating especially in the digital space, it is no wonder that Wema Bank is regarded as Nigeria’s foremost innovative bank.

Interested participants are encouraged to submit their registrations for Hackaholics 5.0 at https://hackaholics.wemabank.com/register.

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Access Holdings’ Shareholders Unanimously Back Capital Raising Plan, Hail Aig-Imoukhuede’s Return as Chairman

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3 hours ago

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April 20, 2024

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Access Holdings' Shareholders Unanimously Back Capital Raising Plan, Hail Aig-Imoukhuede's Return as Chairman

Access Holdings’ Shareholders Unanimously Back Capital Raising Plan, Hail Aig-Imoukhuede’s Return as Chairman
…Re-elect Olusegun Ogbonnewo, Ojinika Olaghere as a Non-Executive Directors

The shareholders of Access Holdings Plc (“Access Holdings” or “the Group”) at the 2nd Annual General Meeting (AGM) held on Friday, April 19, 2024, unanimously backed the Group’s plan to establish a capital raising programme of up to US$1.5 billion as well as the subset initiative to raise up to N365 billion, specifically, through a Rights Issue of ordinary shares to its shareholders.
The proceeds of the Rights Issue would be used to support on-going working capital needs, including organic growth funding for its banking and other non-banking subsidiaries.
The shareholders also ratified the appointments of Aigboje Aig-Imoukhuede, Olusegun Ogbonnewo, and Ojinika Olaghere as Non-Executive Directors.
The appointment of Aig-Imoukhuede as the Chairman of Access Holdings was praised by the shareholders, who pointed to his rich history of success with the institution, having transformed it into Nigeria’s biggest lender by market value alongside Herbert Wigwe.
Aigboje’s leadership was instrumental in driving the institution’s growth during the 2004 recapitalisation of the banking industry led by the Central Bank of Nigeria (CBN) under the leadership of its former Governor, Prof. Charles Soludo.
“We are thrilled with Aigboje Aig-Imoukhuede’s return to the role of Chairman. His proven track record, experience, and strategic insights position him as the ideal leader to steer Access Holdings towards meeting its lofty targets. During his tenure as CEO, particularly during the recapitalisation directive by the CBN, he steered Access Bank to raise an impressive $2 billion in capital, and this demonstrates his capacity to, once again, lead Access Holdings towards successfully achieving the objectives of our planned Capital Raise and Rights Issue targets,” said Chief Sunny Nwosu, Chairman Emeritus of the Independent Shareholders Association of Nigeria (ISAN).
Access Holdings' Shareholders Unanimously Back Capital Raising Plan, Hail Aig-Imoukhuede's Return as Chairman
In line with the Group’s strong financial performance, the payment of a final dividend of N1.80 kobo per every N0.50 Kobo ordinary share for the 2023 financial year was approved, marking a 28 per cent improvement from the corresponding period in 2022.
The Group’s full-year results for the period ending December 31, 2023, showcased an impressive 335 per cent increase in pre-tax profit to N729 billion from N167.68 billion in 2022. The Group also experienced an 87 per cent surge in gross earnings to N2.59 trillion from N1.39 trillion in 2022 and reported a remarkable 306 per cent growth in profit after tax to N619.32 billion, from N152.20 billion in 2022.
Commencing in the second half of 2024, Access Holdings’ global expansion strategy will enter the consolidation and efficiency phase, aligning with its five-year plan to accelerate the attainment of its 2027 strategic objectives. The Group remains focused on driving sustainable growth, and delivering value to its shareholders even as it continues to build a globally connected community and ecosystem, inspired by Africa, for the world.

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Dangote crashes Diesel price to N1,000 per litre

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3 days ago

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April 16, 2024

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Dangote reacts to EFCC’s visit to its Headquarters

Dangote crashes Diesel price to N1,000 per litre

 

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In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from 1200 to 1,000 naira per litre.

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While rolling out the products, the refinery supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.

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This significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.

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