News
DHQ faults UN report on number of Borno farmers killed
Defence Headquarters has faulted a report by the United Nations that 110 civilians were killed by Boko Haram in Saturday onslaught on farmers in the Jere Local Government Area of Borno State.
The Coordinator, Defence Media Operations, Maj. Gen. John Enenche, said on Monday that 43 corpses were recovered from the incident scene in the Zabarmari area of the Borno.
The terrorists were reported to have tied up the farmers, who were working on rice fields, before slitting their throats.
On Sunday, the UN Humanitarian Coordinator in Nigeria, Edward Kallon, disclosed that at least 110 persons died in the horrific attack.
But reacting on Monday morning, Enenche said the troops counted the corpses together with the locals and 43 deaths were recorded.
He spoke while featuring on Channels Television’s Sunrise Daily programme.
He said, “I knew it (the issue) is going to come up particularly because it is coming from the United Nations and not a source that does not want to be identified. This is a source that has identified itself that a 110 specifically (were murdered).”
Enenche, however, explained that he contacted the field commandants and “they gave me a synopsis of what happened. When the governor was to go (to the scene) and after they had recovered the dead, the troops had to move in there and they counted 43.
“Of course, some people ran into the bush and they started coming back and trickling in.
“As at 2pm yesterday (Sunday), I called them and they got back to me at about 7pm yesterday, still counting, looking if they will recover (more corpses). We call it Exploitation after Action Review.”
The DHQ Coordinator said the search for more remains of victims is still on but insisted that 43 corpses were retrieved from the scene as of today.
“Probably we may count up to the figure he (Kallon) gave in the future but as it is now, what we have counted with the locals is still 43 and we are hoping that we don’t get beyond that.
“This is the real situation. I did not sleep, we had to follow it because this is very relevant coming from the United Nations.”
The massacre of the rice farmers, who were buried yesterday, has attracted strong international and national condemnations with some Nigerians calling on the President, Major General Muhammadu Buhari (retd.), to sack the country’s service chiefs and overhaul the security architecture of Nigeria.
News
Ex-Reps Speaker Dogara backs Tax Reform Bills
Ex-Reps Speaker Dogara backs Tax Reform Bills
Former Speaker of the House of Representatives, Yakubu Dogara, has urged Nigerian governors to contribute constructively to the controversial Tax Reform Bills rather than attempting to block them. Dogara made this appeal during a town hall meeting on the bills, broadcast by Channels Television.
He dismissed claims that the timing of the bills and the alleged lack of consultation with governors were sufficient reasons to halt the reforms.
Dogara prioritised national interest over regional or sectional biases in addressing the country’s challenges.
“When I decided to join this discussion, I received numerous calls pleading with me not to show up,” Dogara revealed. “But I believe leadership demands engagement, even when there are disagreements. We must rise above sectionalism and approach this with a national leadership mindset to solve our problems.”
The former Speaker also criticized governors, particularly from the North, for raising concerns about consultation. He argued that many governors fail to engage stakeholders when enacting laws in their states.
READ ALSO:
- Stop milking Nigeria, it will soon dry up, Obi of Onitsha tells politicians
- Lady arrested in Delta for allegedly luring teenagers into prostitution abroad
- P’Harcourt refinery begins fuel evacuation again after scaling down operations
“At the state level, how many people do governors consult when making laws? In some cases, these laws are written from their living rooms,” Dogara said. “Should the process stop because governors were not fully engaged? To me, the answer is no.”
Baba Yusuf, Group CEO of Global Investment and Trade Company, emphasized that the proposed tax reforms would benefit the North significantly.
He highlighted that the legal frameworks could address about 70% of the region’s multidimensional poverty. Yusuf also encouraged citizens to review the bills independently rather than relying solely on political leaders.
Taiwo Oyedele, Chairman of the Presidential Committee on Tax Reform, stated that extensive consultations were conducted with major stakeholders, including governors. He noted that most stakeholders overwhelmingly supported the bills.
Oyedele dismissed concerns raised by Governor Babagana Zulum of Borno State, who argued that the reforms might leave Northern states unable to pay minimum wage. “Our analysis and data do not support that fear,” Oyedele said.
The town hall discussion highlighted the need for constructive dialogue and leadership to ensure the successful implementation of the tax reforms, which are crucial for addressing Nigeria’s economic challenges.
Ex-Reps Speaker Dogara backs Tax Reform Bills
News
$2.2bn Eurobond oversubscription by 300% pass mark for Tinubu’s reforms – Finance minister
$2.2bn Eurobond oversubscription by 300% pass mark for Tinubu’s reforms – Finance minister
The diverse range of subscriptions from multiple investors (local and foreign) to Nigeria’s $2.2 billion Eurobonds is a testament of the confidence in President Bola Ahmed Tinubu’s economic reforms, Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, said yesterday.
The Eurobond had been oversubscribed by 300 per cent by investors from the United Kingdom (UK), North America, Europe, Asia and Middle East as at yesterday.
According to the minister, the peak orderbook of $9.0 billion was an expression of continued investor confidence in Nigeria’s sound macro-economic policy framework and prudent fiscal and monetary management.
The demand for the bonds came from a combination of fund managers, insurance and pension funds, hedge funds, banks and other financial institutions.
Edun said: “The successful issuance signposts increasing confidence in ongoing efforts of President Bola Tinubu administration to stabilise the Nigerian economy and position it on the path of sustainable and inclusive growth for the benefit of all Nigerians.
“The broad range of investor appetite to invest in our Eurobonds is encouraging as we continue to diversify our funding sources and deepen our engagement with the international capital markets.”
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso said the outcome underscored the growing confidence of investors and the resilience of the Nigerian credit.
He described the strong demand as Nigeria’s “improved liquidity position and continued access to international markets to support the financing needs of the government.”
READ ALSO:
- Heavens won’t fall over passage of tax reform bills – Senator Dickson
- Kogi varsity student dumped by suspected ritualists found wandering in Ilorin – NSCDC
- US announces new $725m arms package for Ukraine
Director-General, Debt Management Office (DMO), Ms. Patience Oniha said with the successful pricing of the bond notes on intra-day basis, Nigeria has registered a landmark achievement in the international capital market.
According to her, the size of the orderbook at approximately more than four times of the offer amount, and the strong and diverse investor base helped in pricing the new bond notes.
“The DMO remains committed to maintaining transparency and open communication with investors and stakeholders and appreciates the continued confidence and support of the international and Nigerian investors who participated in the pricing.”
She added that the new notes would be admitted to the official list of the UK Listing Authority and they are available for trade on the London Stock Exchange’s regulated market, the FMDQ Securities Exchange Limited and the Nigerian Exchange (NGX)
“The proceeds from this Eurobond issuance will be used to finance the 2024 fiscal deficit and support the government budgetary needs,” Ms. Oniha said.
Nigeria mandated Chapel Hill Denham, Citigroup, Goldman Sachs, J.P. Morgan and Standard Chartered Bank as Joint Bookrunners.
FSDH Merchant Bank Limited acted as Financial Adviser on the issuance.
The Eurobond attracted about $9 billion subscriptions in overwhelming show of enthusiasm by the international capital market for long-term investments.
The Eurobond offer, launched yesterday by the Federal Government, is the first in more than two years.
It offers two tenors of a six and half years and 10 years Eurobonds. Both medium-tenor and long-tenor bonds were massively oversubscribed.
$2.2bn Eurobond oversubscription by 300% pass mark for Tinubu’s reforms – Finance minister
News
Tax reform bills not to impoverish the north – Presidency
Tax reform bills not to impoverish the north – Presidency
The presidency has said no part of the controversial tax reform bills is meant to impoverish the northern part of the country.
In a statement by Bayo Onanuga the Special Adviser to President Tinubu on Information and Strategy, the presidency denied that the bills recommend the scrapping of the Tertiary Education Trust Fund (TETFUND), The National Agency for Science and Engineering Infrastructure (NASENI) and the National Information Technology Development Agency (NITDA) .
The statement read, “Since the public debate around the transformative tax bills before the National Assembly began in the last few weeks, various political actors and commentators have tried to obfuscate the facts, deliberately misinforming and misleading the public.
“Unfortunately, most reactions are not grounded in facts, reality, or sufficient knowledge of the bills. While some commentators have attempted to incite the people against lawmakers, others have polarized one section of the country against another.
“The tax reform bills will not make Lagos or Rivers more affluent and other parts of the country, as recklessly canvassed, poorer. The bills will not destroy the economy of any section of the country. Instead, they aim to enhance the quality of life for Nigerians, especially the disadvantaged, who are trying to make a living.
Contrary to the lies being peddled, the bills do not suggest that NASENI, TETFUND, and NITDA will cease to exist in 2029 after the passage of the bills.
“Government agencies, such as NASENI, TETFUND, and NITDA, are funded through budgetary provisions with company income tax and other taxes paid by the same businesses that are being overburdened with the special taxes.
One reason President Bola Tinubu embarked on the Tax and Fiscal Policy Reforms is the need to streamline tax administration in Nigeria and make the operating environment conducive for businesses.
For decades, businesses, investors, and private sector players in Nigeria have complained of being overburdened by a myriad of taxes and levies, including those earmarked to fund various government agencies and initiatives.
READ ALSO:
- EFCC makes single largest asset recovery in 21 years
- Unknown persons set Lagos building ablaze, killing mother, two children
- Nigerian actress joins US Army
“The multiple taxes complicate the economic environment, making Nigeria uncompetitive for investment and preventing many businesses from growing or continuing their operations. Some companies have had to make the rational decision to relocate to other countries. We can not continue on this path or wait for 20 years if this country is to deliver the prosperity we need for our people.
Tax reform bills not to impoverish the north – Presidency
-
metro3 days ago
How I begged Abacha not to kill Obasanjo – Gowon
-
International3 days ago
Couple, 3 children ordered to leave UK after sponsor loses licence
-
Education3 days ago
ASUU declares indefinite strike in Nigerian university
-
Health3 days ago
NAFDAC alerts to fake anti-malaria drug in circulation
-
metro3 days ago
Emir leads security operatives to smoke out bandits from forest
-
metro18 hours ago
In biggest assets recovery, govt official forfeits estate with 753 duplexes to EFCC
-
Politics23 hours ago
2027: Ambode’s Lagos gov campaign poster surfaces
-
metro21 hours ago
Nigerian actress joins US Army
You must be logged in to post a comment Login