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‘Squandered Weatlh’: PDP Still Has Questions to Answer – Buhari

Published

7 years ago

March 7, 2019

Eric

President Muhammadu Buhari has said the Peoples Democratic Party (PDP) owes Nigerians explanations on how it expended the resources that accrued to the country from oil sales between 1999 and 2014.

Mr Buhari also described the 16 years of rule of the PDP as an era of “unprecedented, irresponsible expenditure”.

He said this during an audience with the leadership of organised labour comprising Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) led by the NLC president, Ayuba Wabba, who were on a congratulatory visit.

According to the president, the PDP has not been able to successfully explain to Nigerians what they did with the funds during the period they led the nation “as no tangible infrastructure was built”.

Mr Buhari, recalling the negotiations that led to the approval of the N30,000 minimum wage, said he had to ask the minister of labour and employment, Chris Ngige, to remind the workers what his administration met on ground and what it has been able to achieve with minimal resources.

“During your negotiation with the minister of labour and when he briefed us in council on N30,000 minimum wage, I gave an analogy of a mad woman, who went to fetch firewood but then she realised it was too heavy for her to carry, instead of reducing it, she added more,” he said.

According to the president, “we are struggling to survive as a nation. You (workers) knew what this country was earning between 2009 and 2015, you knew the state of infrastructure when we came in. God gave them (PDP) 16 years of unprecedented earnings. Multiply 2.1 million (barrels) by $100 by 16 years. I don’t think the PDP has been able to successfully explain to Nigerians what they did with that money.”

‘Where is the power?’

Mr Buhari said the opposition party spent $16 billion on power and Nigerians are asking: “where is the power?”

”I appealed to you through our mutual friend, the minister of labour, to tell you where we found the country, where we are, and what we have been able to do with the resources available to us,” he said .

“Oil production from 2.1 million barrels per day went down to half a million. The militants were unleashed on this administration, and yet as confirmed by your leader, we had to ensure pensioners who were dying collected their entitlements. So really, there was terrible management of this country in last 16 years and we are just trying to make up.”

Mr Buhari said he was looking forward to labour’s continued support.

“As we go to the polls this weekend, my prayer is that we also conduct elections in a non-violent manner,” he said.

Mr Buhari said the government will remain focused on its promises which remains security, economy and fighting corruption.

”I want to assure you that the next four years will be peaceful, prosperous and corruption free. I therefore look forward to receiving your proposals so that together we can achieve these goals,” he said.

Labour responds

Mr Wabba, in his remarks earlier assured Mr Buhari that the workers are partners in progress.

”Government and labour are primarily partners in progress. The success of government is linked to its workers. And the success of workers is linked to government,” he said.

The NLC president said one of the finest hours of labour with any president of the country was when Mr Buhari’s pressed states to pay salaries and pension.

“We all remember the special bailout, Paris club refund and budget support package you introduced to support state governments during the recession. Your directive during this intervention was state governments must offset accumulated arrears of salaries and pension liabilities. I remember your publicly and openly asked state governors, “how do you manage to sleep at night when the salaries of workers in your state are not paid?

“For us, that was one of the finest moments we have had with any President in this country…I can stand here today and say your intervention was the difference between life and death for many workers.”

Mr Wabba also commended the president for paying off the pension and accumulated entitlements of disengaged staff of Nigeria Airways and many other pensioners whose pension had been left to accumulating by successive governments.

The NLC president urged Mr Buhari to focus on job creation for unemployed youth, provision of affordable power across the country, reactivation and upgrading of the nation’s refineries and pipelines infrastructure, and continued diversification of the economy.

”Mr President should also focus on increased funding for agriculture research, upgrading of hospitals and academic institutions, revitalisation of the public service and revisit the tenure policy which has made the civil service top heavy resulting in indiscipline and stagnation,” he said.

The labour leader also appealed to the National Assembly to pass the National Minimum Wage Act, while also asking the President to thereafter sign it into law within the shortest possible time.

Other demands

Mr Wabba urged Buhari to inaugurate the Boards of National pension commission (PENCOM), National Insurance Fund Trust, the Micheal Imoudu, National Institute for Labour Studies and National Labour Advisory Council.

”These institutes are key pillars in Labour-government relations. The activation of the boards will surely ensure our successes to date are taken to the Next Level. Please be rest assured we are ready to do our bit,” he said.

The N30,000 minimum wage bill has passed the first and second readings at the Senate after President Buhari transmitted the draft legislation to the lawmakers.

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Court Reserves Ruling in Times Multimedia Suit Against Afreximbank Over CAX IP Dispute

Published

28 minutes ago

July 5, 2026

Eric

By Andrew Orolua

The Federal High Court sitting in Lagos has reserved ruling in the intellectual property suit between Times Multimedia Ltd. and the African Export-Import Bank, Afreximbank, and others, following arguments on a preliminary objection challenging the court’s jurisdiction.

The matter came up on Thursday, July 2, 2026, before Honourable Justice Osiagor.

Times Multimedia Ltd., a Nigerian media and events company, is the originator and registered proprietor of “CAX” – the Creative Africa Exchange.

Court documents state that Times Multimedia conceived CAX in 2017/2018 as a continental trade and investment platform designed to finance, market, and monetize Africa’s creative and cultural industries. In 2018, the company formally presented the CAX concept, framework, and business model to Afreximbank for partnership and institutional backing.

Following engagements with Times Multimedia on the CAX proposal, Afreximbank in 2020 launched its own initiative known as the Creative Africa Nexus, CANEX. Times Multimedia alleges that CANEX substantially adopted the core concept, objectives, and structure of CAX without license, attribution, or contractual agreement, leading to the present suit for intellectual property infringement.

Afreximbank and other defendants filed a Notice of Preliminary Objection, contending that the bank enjoys immunity from judicial proceedings in Nigeria under the _Afreximbank Establishment Agreement, 1993_, Section 9 of the _Diplomatic Immunities and Privileges Act_, Cap D1, LFN 2004, and the _African Export-Import Bank (Privileges and Immunities) Order, 2014_.

Afreximbank was established in October 1993 by African governments and investors to promote intra-African trade. Nigeria is a founding signatory. Article 50 of the Establishment Agreement provides that the Bank enjoys immunity from legal process except to the extent that it expressly waives such immunity.

Counsel to Times Multimedia Ltd. opposed the objection. Counsel argued that the immunity claimed by Afreximbank is not absolute, and that the same Establishment Agreement contains provisions contemplating circumstances where the bank may be sued or subjected to judicial proceedings, particularly in respect of commercial transactions.

The claimant’s legal team further urged the court to interpret the relevant instruments holistically and to avoid any construction that would unjustifiably deny an aggrieved Nigerian entity access to court in the absence of a clear and express exclusion of the court’s jurisdiction, as guaranteed under Section 6(6)(b) of the 1999 Constitution.

Counsel for both sides argued extensively for over one hour. At the end of proceedings, Justice Osiagor reserved the matter for ruling and adjourned the case to Monday, 29 September 2026.

The ruling will determine whether the suit can proceed against Afreximbank before the Federal High Court.

Featured

Fake Agency Scandal: NDC Demands Gbajabiamila’s Sack

Published

2 days ago

July 3, 2026

Eric

The Nigeria Democratic Congress (NDC) has called on President Bola Tinubu to immediately remove his Chief of Staff, Femi Gbajabiamila, over allegations linking him to an alleged multi-billion-naira corruption scandal involving a purported non-existent government agency, the Presidential Foreign Intervention Promotion Council (PFIPC).

In a statement issued on Friday by its National Publicity Secretary, Osa Director, the opposition party described the allegations as grave and said Gbajabiamila’s continued stay in office could compromise any credible investigation into the matter.

The NDC’s demand follows allegations made by Prince Mathew Adeniyi Adeyemi, who claims to be the Director-General of the PFIPC, an agency the Presidency has publicly denied exists.

According to the party, the allegations raise serious concerns about transparency, accountability and integrity within the Tinubu administration.

The NDC alleged that despite the Presidency’s denial of the agency’s existence, the PFIPC purportedly secured budgetary allocations in the 2026 Appropriation Act and opened a domiciliary account, a Pound Sterling account and a Treasury Single Account (TSA) domiciled with the Central Bank of Nigeria.

The party questioned how an agency described as non-existent could allegedly establish multiple high-level government financial accounts without official approval or the required documentation.

It also called on the Office of the Accountant-General of the Federation to explain whether forged documents were used in processing the accounts.

The statement further alleged that the Head of the Civil Service of the Federation approved 314 staff positions for the purported agency, describing the development as another issue requiring urgent explanation.

According to the NDC, the allegations also include claims that Gbajabiamila demanded 48 per cent of the agency’s take-off grant, reportedly valued at N27.39 billion, a request Adeyemi allegedly rejected.

The party also cited Adeyemi’s claim that he secured his appointment through the Chief of Staff after allegedly paying N600 million, of which N400 million was allegedly paid through proxies, while N200 million remained outstanding.

It said the alleged unpaid balance reportedly contributed to the Presidency’s subsequent denial of the agency’s existence.

The NDC further alleged that the claims point to a wider pattern of institutional corruption, including the alleged sale of public appointments.

The party also linked the controversy to the death of Babatunde Tanimola, whom it described as an intermediary between Adeyemi and the Chief of Staff.

According to the statement, Tanimola reportedly died in a fire incident at a hotel in Utako, Abuja, on October 22, 2025, a day after the police reportedly received a petition from the Chief of Staff.

The NDC also referenced Adeyemi’s claims that he survived multiple assassination attempts, including an attack along the Abuja-Kaduna Expressway on September 7, 2025, and alleged that certain individuals within government are plotting to eliminate him.

Against the backdrop of the allegations, the party demanded the immediate removal of Gbajabiamila to allow what it described as a full and impartial investigation.

It also called on President Tinubu to establish an independent investigative panel to examine the alleged operations of the PFIPC, including its budgetary allocations, financial transactions, account openings and staff recruitment.

The NDC further urged investigators to probe the circumstances surrounding Tanimola’s death and the alleged assassination attempts on Adeyemi, while recommending that Adeyemi be granted witness protection.

The party also demanded that the Chief of Staff produce all official documents signed since assuming office for forensic examination.

In addition, it called for the questioning of officials of the Central Bank of Nigeria (CBN), the Office of the Accountant-General of the Federation, and the Office of the Head of the Civil Service of the Federation over their alleged roles in the matter.

The opposition party also urged the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Nigeria Police Force to commence what it described as a thorough investigation without fear or favour.

“The NDC will not accept the usual tactic of issuing a mere defensive press release from the Presidency as a deflective ploy. Nigerians deserve to know the truth through a transparent process that promotes fairness and justice,” the statement said.

The Presidency has previously maintained that the PFIPC is not a recognised government agency.

As of the time of filing this report, neither the Presidency nor Chief of Staff Femi Gbajabiamila had responded to the fresh allegations contained in the NDC statement.

Featured

Glo-sponsored African Voices Features Former CNN Anchor, Isha Sesay

Published

2 days ago

July 3, 2026

Eric

Accomplished journalist and former Cable News Network (CNN) International anchor, Isha Sesay, will this week return to the studios of the global news network, not as an interviewer, but as the subject of its celebrated 30-minute magazine programme, African Voices, sponsored by telecommunications giant, Globacom.

The episode will shine a spotlight on the remarkable journey of the distinguished broadcaster whose career has traversed some of the most influential corridors of international journalism.

The 50-year-old British-Sierra Leonean media personality, born on January 6, 1976, rose to prominence through an illustrious career at CNN, which she joined as a news anchor in 2005 after distinguished stints with the British Broadcasting Corporation (BBC) and Sky News. Over the years, Sesay became one of the most recognisable and respected faces in global television news, bringing clarity and composure to some of the world’s most consequential stories.

An alumna of Trinity College, Cambridge, United Kingdom, Sesay steadily carved a distinctive niche for herself in broadcast journalism. In 2009, she became the host of the inaugural edition of International Desk, CNN’s weekly news programme, further cementing her reputation as a journalist of substance and international standing.

Her career afforded her the opportunity to engage with numerous eminent personalities, including former Nigerian President Olusegun Obasanjo and his successor, the late President Umaru Yar’Adua, among other notable global figures.

Sesay also contributed to Anderson Cooper 360° as presenter of the 360 Bulletin, a role she assumed on January 17, 2011. Subsequently, she was reassigned as anchor of another flagship news programme, CNN NewsCenter, continuing a professional trajectory that reflected both versatility and excellence.

Beyond the newsroom, Sesay has demonstrated a deep commitment to social impact. In 2014, she launched her educational and humanitarian non-profit advocacy initiative for the African girl-child. The organisation, aptly named Women Everywhere Can Lead, has since provided educational support and empowerment opportunities aimed at nurturing a new generation of female leaders across the continent.

More recently, Sesay captured public attention with her personal journey into motherhood, welcoming her first child through In-Vitro Fertilisation (IVF) as a single mother. Her experience has resonated with many women around the world, adding another compelling chapter to a life story already rich in courage, resilience and inspiration.

On this edition of African Voices, Sesay will share insights into her distinguished career, her enduring advocacy for girls’ education and empowerment, as well as her new and deeply personal adventure into motherhood. The programme will air on Saturday at 7.30am.

Repeat broadcasts will follow at 11.00am on the same day, while additional screenings are scheduled for Sunday at 3.30am and 6.00pm. Further rebroadcasts will air on Monday at 3.00am and 5.45pm, and on Tuesday at 5.45 pm, with the same time belt continuing into the following week until Monday at 3.00am