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Investment / Re: CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 1:22pm On Apr 25 |
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Technology Market / CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 1:22pm On Apr 25 |
KARRION EXCHANGE is a brand that stands out from others and delivers exceptional and quality services when it comes to buying and selling of all types of funds. Our Services includes: BUYING AND SELLING OF THE FOLLOWING: * RMB (YUAN) * PAYPAL FUND ( FNF & GNS) * BITCOIN, USDT, SOLANA & ETHEREUM * ONLINE CHECKOUTS ( AMAZON, EBAY, ALIEXPRESS, ALIBABA AND ALL ONLINE WEBSITES THAT ACCEPT PAYPAL AND CARD CHECKOUT). * RECEIVE AND AND SEND FOREIGN PAYMENTS THROUGH US IN THE FOLLOWING CURRENCIES (USD, EUR, CAD, GBP & AUD). ®®SWIFT PAYMENT ✓✓✓✓ ®®BEST RATE✓✓✓ ®®PROMPT DELIVERY ✓✓✓ ®®AFTER SALE ASSISTANCE ✓✓✓ ®®ONLINE 24/7 (NO DAYS OFF)✓✓✓ For faster deal, you can reach us on WhatsApp 07015628432 or if you base in LAGOS, you can visit our office at Epe. |
Technology Market / Re: CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 1:21pm On Apr 25 |
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Technology Market / Re: CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 1:21pm On Apr 25 |
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Technology Market / Re: CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 1:20pm On Apr 25 |
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Investment / Re: CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 8:30am On Apr 25 |
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Investment / Re: CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 5:28pm On Apr 24 |
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Technology Market / Re: CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 5:28pm On Apr 24 |
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Investment / Re: CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 8:36am On Apr 24 |
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Technology Market / Re: CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 8:36am On Apr 24 |
Karrrion: 1 Like |
Technology Market / CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 5:15pm On Apr 23 |
KARRION EXCHANGE is a brand that stands out from others and delivers exceptional and quality services when it comes to buying and selling of all types of funds. Our Services includes: BUYING AND SELLING OF THE FOLLOWING: * RMB (YUAN) * PAYPAL FUND ( FNF & GNS) * BITCOIN, USDT, SOLANA & ETHEREUM * ONLINE CHECKOUTS ( AMAZON, EBAY, ALIEXPRESS, ALIBABA AND ALL ONLINE WEBSITES THAT ACCEPT PAYPAL AND CARD CHECKOUT). * RECEIVE AND AND SEND FOREIGN PAYMENTS THROUGH US IN THE FOLLOWING CURRENCIES (USD, EUR, CAD, GBP & AUD). ®®SWIFT PAYMENT ✓✓✓✓ ®®BEST RATE✓✓✓ ®®PROMPT DELIVERY ✓✓✓ ®®AFTER SALE ASSISTANCE ✓✓✓ ®®ONLINE 24/7 (NO DAYS OFF)✓✓✓ For faster deal, you can reach us on WhatsApp 07015628432 or if you base in LAGOS, you can visit our office at Epe. |
Investment / Re: CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 5:15pm On Apr 23 |
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Education / Re: Zimbabwe Sells 20% Of Its Land To Arabs by Karrrion: 5:12pm On Apr 23 |
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Investment / Re: CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 1:25pm On Apr 23 |
KARRION EXCHANGE is a brand that stands out from others and delivers exceptional and quality services when it comes to buying and selling of all types of funds. Our Services includes: BUYING AND SELLING OF THE FOLLOWING: * RMB (YUAN) * PAYPAL FUND ( FNF & GNS) * BITCOIN, USDT, SOLANA & ETHEREUM * ONLINE CHECKOUTS ( AMAZON, EBAY, ALIEXPRESS, ALIBABA AND ALL ONLINE WEBSITES THAT ACCEPT PAYPAL AND CARD CHECKOUT). * RECEIVE AND AND SEND FOREIGN PAYMENTS THROUGH US IN THE FOLLOWING CURRENCIES (USD, EUR, CAD, GBP & AUD). ®®SWIFT PAYMENT ✓✓✓✓ ®®BEST RATE✓✓✓ ®®PROMPT DELIVERY ✓✓✓ ®®AFTER SALE ASSISTANCE ✓✓✓ ®®ONLINE 24/7 (NO DAYS OFF)✓✓✓ For faster deal, you can reach us on WhatsApp 07015628432 or if you base in LAGOS, you can visit our office at Epe. |
Investment / Re: CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 8:03am On Apr 23 |
KARRION EXCHANGE is a brand that stands out from others and delivers exceptional and quality services when it comes to buying and selling of all types of funds. Our Services includes: BUYING AND SELLING OF THE FOLLOWING: * RMB (YUAN) * PAYPAL FUND ( FNF & GNS) * BITCOIN, USDT, SOLANA & ETHEREUM * ONLINE CHECKOUTS ( AMAZON, EBAY, ALIEXPRESS, ALIBABA AND ALL ONLINE WEBSITES THAT ACCEPT PAYPAL AND CARD CHECKOUT). * RECEIVE AND AND SEND FOREIGN PAYMENTS THROUGH US IN THE FOLLOWING CURRENCIES (USD, EUR, CAD, GBP & AUD). ®®SWIFT PAYMENT ✓✓✓✓ ®®BEST RATE✓✓✓ ®®PROMPT DELIVERY ✓✓✓ ®®AFTER SALE ASSISTANCE ✓✓✓ ®®ONLINE 24/7 (NO DAYS OFF)✓✓✓ For faster deal, you can reach us on WhatsApp 07015628432 or if you base in LAGOS, you can visit our office at Epe. |
Investment / Re: CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 8:38pm On Apr 22 |
KARRION EXCHANGE is a brand that stands out from others and delivers exceptional and quality services when it comes to buying and selling of all types of funds. Our Services includes: BUYING AND SELLING OF THE FOLLOWING: * RMB (YUAN) * PAYPAL FUND ( FNF & GNS) * BITCOIN, USDT, SOLANA & ETHEREUM * ONLINE CHECKOUTS ( AMAZON, EBAY, ALIEXPRESS, ALIBABA AND ALL ONLINE WEBSITES THAT ACCEPT PAYPAL AND CARD CHECKOUT). * RECEIVE AND AND SEND FOREIGN PAYMENTS THROUGH US IN THE FOLLOWING CURRENCIES (USD, EUR, CAD, GBP & AUD). ®®SWIFT PAYMENT ✓✓✓✓ ®®BEST RATE✓✓✓ ®®PROMPT DELIVERY ✓✓✓ ®®AFTER SALE ASSISTANCE ✓✓✓ ®®ONLINE 24/7 (NO DAYS OFF)✓✓✓ For faster deal, you can reach us on WhatsApp 07015628432 or if you base in LAGOS, you can visit our office at Epe. |
Investment / Re: CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 2:14pm On Apr 22 |
KARRION EXCHANGE is a brand that stands out from others and delivers exceptional and quality services when it comes to buying and selling of all types of funds. Our Services includes: BUYING AND SELLING OF THE FOLLOWING: * RMB (YUAN) * PAYPAL FUND ( FNF & GNS) * BITCOIN, USDT, SOLANA & ETHEREUM * ONLINE CHECKOUTS ( AMAZON, EBAY, ALIEXPRESS, ALIBABA AND ALL ONLINE WEBSITES THAT ACCEPT PAYPAL AND CARD CHECKOUT). * RECEIVE AND AND SEND FOREIGN PAYMENTS THROUGH US IN THE FOLLOWING CURRENCIES (USD, EUR, CAD, GBP & AUD). ®®SWIFT PAYMENT ✓✓✓✓ ®®BEST RATE✓✓✓ ®®PROMPT DELIVERY ✓✓✓ ®®AFTER SALE ASSISTANCE ✓✓✓ ®®ONLINE 24/7 (NO DAYS OFF)✓✓✓ For faster deal, you can reach us on WhatsApp 07015628432 or if you base in LAGOS, you can visit our office at Epe. |
Investment / CRYPTO, RMB, PAYPAL & CHECKOUT DEALS by Karrrion: 8:56am On Apr 22 |
KARRION EXCHANGE is a brand that stands out from others and delivers exceptional and quality services when it comes to buying and selling of all types of funds. Our Services includes: BUYING AND SELLING OF THE FOLLOWING: * RMB (YUAN) * PAYPAL FUND ( FNF & GNS) * BITCOIN, USDT, SOLANA & ETHEREUM * ONLINE CHECKOUTS ( AMAZON, EBAY, ALIEXPRESS, ALIBABA AND ALL ONLINE WEBSITES THAT ACCEPT PAYPAL AND CARD CHECKOUT). * RECEIVE AND AND SEND FOREIGN PAYMENTS THROUGH US IN THE FOLLOWING CURRENCIES (USD, EUR, CAD, GBP & AUD). ®®SWIFT PAYMENT ✓✓✓✓ ®®BEST RATE✓✓✓ ®®PROMPT DELIVERY ✓✓✓ ®®AFTER SALE ASSISTANCE ✓✓✓ ®®ONLINE 24/7 (NO DAYS OFF)✓✓✓ For faster deal, you can reach us on WhatsApp 07015628432 or if you base in LAGOS, you can visit our office at Epe. |
Celebrities / Re: Men Are Asking For DNA Test To Run From Responsibility - Actress Mary Njoku by Karrrion: 2:44pm On Apr 20 |
So they should be taking care of another man's child due to your infidelity abi? Well done girl |
Crime / Five-year-old Boy Dies After Falling From Fence In Lagos by Karrrion: 2:35pm On Apr 20 |
A five-year-old boy identified simply as David has been confirmed dead after falling from a fence in the Igando area of Lagos State. It was gathered that the deceased was playing with other children in the community when he climbed the fence and sat on it. While playing with his colleagues, the late David lost his balance and fell to the ground. His friends who discovered that he was unconscious, immediately alerted a neighbour who rushed to the scene. He was, thereafter, taken to the hospital where he was confirmed dead by the doctor on duty. “The scene of the incident was visited by officers of the division while the corpse has been moved to Mainland General Hospital, Yaba, Lagos, for autopsy. An investigation is in progress.” PUNCH Metro reported that a 13-year-old boy, Kelvin Onyengba, drowned in February during a hangout at the Alatise beach in the Ajah area of Lagos State. The deceased who went swimming with five of his friends died as a result of the sea’s waves. https://punchng.com/five-year-old-boy-dies-after-falling-from-fence-in-lagos/?amp
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Politics / Breaking: PDP Groups Storm Party’s Headquarters With Damagun Must Go Protest Ahe by Karrrion: 2:51pm On Apr 18 |
The People’s Democratic Party (PDP) Reform Vanguard early this morning led thousands of Nigerian youths to the headquarters of the Peoples Democratic Party, PDP in Abuja to demand for the immediate resignation of the party’s Chairman, Ambassador Iliya Damagun. The youths who besieged the party headquarters before its scheduled National Economic Council, NEC meeting also urged the NEC to sanction the FCT Minister, Nyesom Wike, for alleged anti-party activities. In his address, Usman Seidu, the convener of the PDP reform vanguard said Damagun and Wike have “undermined our collective efforts and jeopardized our very existence as a formidable opposition force.” “We commend our former National Chairman Dr. Iyorchia Ayu for his demonstration of unwavering loyalty and love for our party by withdrawing all pending suits against the party in the Court,” he said. “His actions have paved the way for our great party to move forward, to cleanse our ranks and restore integrity to our leadership. However, the presence of individuals like Amb. Iliya Damagun and Mr. Nyesome Wike within our midst remains a cancerous growth on the body of our party. “Their actions, tantamount to betrayal, have undermined our collective efforts and jeopardized our very existence as a formidable opposition force. The time has come for the NEC to act decisively. Amb. Iliya Damagun must be removed from his position as Acting National Chairman, in accordance with the provisions of our party’s constitution. “He must be replaced with a loyal member from the North Central, someone who embodies the spirit of our party and will work tirelessly for the advancement of its course. “Furthermore, we cannot turn a blind eye to the continuous presence of Mr. Nyesome Wike within our ranks. His romance with the APC has been handsomely rewarded with his appointment as Minister of the FCT and as such, his stay is a slap in the face of every loyal member of our party. “The continuous presence of individuals like Damagun and Wike is not just detrimental to our progress; it is a clear and present danger to the very survival of our party. If the party fail to take decisive action against those who have betrayed our trust, then it risk losing the faith and support of it’s loyal members across the country.” The group, therefore, implored members of the NEC to summon the courage and conviction necessary to take the tough decisions required to reposition the party for greatness. https://dailytimesng.com/breaking-pdp-groups-storm-partys-headquarters-with-damagun-must-go-protest-ahead-of-nec-meeting/
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Crime / Court Decides Nnamdi Kanu’s Requests For Bail, House Arrest May 20 by Karrrion: 10:11am On Apr 18 |
The leader of the Indigenous People of Biafra, IPOB, Nnamdi Kanu, will on May 20 know his fate on the request for restoration of his revoked bail and the prayer to remove him from the custody of the Department of State Services (DSS) to house arrest. Justice Binta Nyako of the Federal High Court, Abuja, fixed the date on Wednesday after taking arguments from Kanu’s legal team led by Alloy Ejimakor and that of the Federal Government, represented by Chief Adegboyega Awomolo, SAN. Kanu, who has been in detention since 2021, in a motion argued by Ejimakor requested the court to restore the bail granted him in 2017 by the same Judge. He told the court that contrary to the claim of the Federal Government, he did not jump bail or breach any of the conditions of the bail but had to escape out of the country when the military allegedly invaded his house. The detained IPOB leader also said that he would have been killed if he had not escaped the way he did and accused the Federal Government of misleading the court to get the bail revoked in his absence. He also asked the court to set aside the arrest warrant issued against him by the court while he was out of the country. In a separate motion, also argued by his legal team, Kanu demanded his removal from the custody of the DSS to a house arrest or in the alternative, to remand him in prison. Besides, he asked that his lawyers must be allowed unhindered access to him to enable him prepare for his defense in the terrorism charges against him, adding that until those conditions are met by the Federal Government in line with Section 36 of the 1999 constitution, he would not submit himself for trial. However, the Federal Government’s legal team, led by Awomolo vehemently opposed granting of all the requests made by Kanu. Among others, the senior lawyer said that, in a criminal matter, no defendant has the right to dictate to court how his prosecution would be conducted. Awomolo told the court that Kanu was once admitted to bail but breached the bail by escaping out of the country under false claims. The Senior lawyer argued that the fresh request for bail by Kanu is a gross abuse of court process, having been rejected earlier by the same court, adding that the only option available to the defendant is to go to the court of Appeal to challenge the rejection since the High Court cannot overrule itself. On the request for removal from DSS custody, Awomolo said that the only safe and secured environment for Kanu remains the DSS custody in the interest of the safety of his life. He urged the court to dismiss the allegation of hindered access to lawyers by Kanu, adding that, in his application and the supporting affidavit, he, Kanu failed to name any DSS operative hindering lawyers from accessing him or eavesdropping during conversation with lawyers. Speaking with journalists after the proceedings, a House of Representatives member, Hon Ikenga Ugochinyere, praised the legal team of Kanu for standing to get fair trial for their client adding that, under the present circumstances, there would be no opportunity for Kanu to get better deal when his hands and legs are tied in the custody of the DSS. He appealed to President Bola Tinubu to end the trial logjam by ensuring an out of court settlement for general peace to reign in the country. https://dailytimesng.com/court-decides-nnamdi-kanus-requests-for-bail-house-arrest-may-20/
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Crime / Alleged N80bn Money Laundering: EFCC Arraigns Yahaya Bello Today by Karrrion: 9:49am On Apr 18 |
The Economic and Financial Crimes Commission, EFCC, will today (Thursday, April 18, 2024) arraign a former governor of Kogi State, Yahaya Adoza Bello, before a Federal High Court sitting in Abuja. He will be arraigned before Justice Emeka Nwite alongside three other suspects, Ali Bello, Dauda Suleiman and Abdulsalam Hudu on 19- count charges bordering on money laundering to the tune of N80, 246,470, 088.88 (Eighty Billion, Two Hundred and Forty Six Million, Four Hundred and Seventy Thousand and Eight Nine Naira, Eighty Eight Kobo). A statement by EFCC spokesperson, Dele Oyewale, said Bello’s arraignment is coming on the heels of a warrant of arrest and enrolment order granted the EFCC by the court on Wednesday, April 17, 2024. It added that the Commission’s attempt to execute the Warrant of Arrest lawfully obtained against Bello met stiff resistance on Wednesday, April 17, 2024. “The security cordon around the former governor’s residence in Abuja was breached by the current Governor of Kogi State, Usman Ododo who ensured that the suspect was spirited away in his official vehicle. “As a responsible law enforcement agency, the EFCC exercised restraint in the face of the provocation, waiting for his arraignment on Thursday, April 18, 2024,” the anti-graft agency stated. Count one of the charges reads: That you, Yahaya Adoza Bello, Ali Bello, Dauda Suliman, and Abdulsalam Hudu( Still at large), sometime, in February, 2016, in Abuja within the jurisdiction of this Honourable Court, conspired amongst yourselves to convert the total sum of N80, 246,470, 088.88( Eighty Billion, Two Hundred and Forty Six Million, Four Hundred and Seventy Thousand and Eight Nine Naira, Eighty Eight Kobo), which sum you reasonably ought to have known forms part of the proceeds of your unlawful activity to wit, criminal breach of trust and you thereby committed an offence contrary to Section 18(a) and punishable under Section 15(3) of the Money Laundering ( Prohibition) Act, 2011 as amended”. Count 17 of the charges read: “That you Yahaya Bello between 26th July 2021 to 6th April 2022 in Abuja within the jurisdiction of this Honourable Court aided E-Traders International Limited to conceal the aggregate sum of N3081,804,654.00( Three Billion, Eighty One Million Eight Hundred and Four Thousand Six Hundred and Fifty Four Naira) in account number 1451458080 domiciled in Access BankPlc, which sum you reasonably ought to have known forms part of proceeds of unlawful activity to wit, criminal breach of trust and you thereby committed an offence contrary to Section 18(a), 15(2) (d) of the Money Laundering ( Prohibition) Act, 2011 as amended and punishable under Section 15( 3) of the same Act. Count 18 of the charges reads: “That you Yahaya Adoza Bello sometime in November 2021 in Abuja within the jurisdiction of this Honourable Court indirectly procured E-Traders international Limited to transfer the aggregate sum of $570,330.00( Five Hundred and Seventy Thousand , Three Hundred and Thirty Dollars) to account number 4266644272 domiciled in TD Bank, United States of America which sum you reasonably ought to have known forms part of proceeds of unlawful activity to wit, criminal breach of trust and you thereby committed an offence contrary to Section 15(2) (d) of the Money Laundering ( Prohibition) Act, 2011 as amended and punishable under Section 15( 3) of the same Act”. “It is needful to state that Bello is not above the law and would be brought to justice as soon as possible.” Also late yesterday evening, EFCC said it will no longer tolerate obstruction of its operations. Reacting to the obstruction, the Commission warned members of the public that it is a criminal offence to obstruct officers of the Commission from carrying out their lawful duties. “Section 38(2)(a(b) of the EFCC Establishment Act makes it an offence to prevent officers of the Commission from carrying out their lawful duties. Culprits risk a jail term of not less than five years. “This one warning becomes necessary against the background of the increasing tendency by persons and groups under investigation by the Commission to take the laws into their hands by recruiting thugs to obstruct lawful operations of the EFCC. It added that “on several occasions, operatives of the Commission have had to exercise utmost restraint in the face of such provocation to avoid a breakdown of law and order. Regrettably, such disposition is being construed as a sign of weakness.” READ ALSO: ‘FG has not been funding power sector subsidy’ “The Commission, therefore, warns that it will henceforth not tolerate any attempt by any person or organisation to obstruct its operation as such will be met with appropriate punitive actions. It would be recalled that the Federal High Court sitting in Abuja on Wednesday issued a warrant of arrest on the immediate-past governor of Kogi State, Yahaya Bello. The warrant was issued by Justice Emeka Nwite, following an ex-parte motion brought by the Economic and Financial Crimes Commission, EFCC, on April 17, 2024. In the motion marked: FHC/ABJ/CR/98/2024, the anti-graft agency prayed the court to serve Bello the charge and the proof evidence on the defendant through a substituted means. The EFCC also sought an order seeking the immediate arrest of Bello for arraignment. The EFCC’s reliefs partly read: “an order granting leave to the complainant/applicant to effect service of the charge together with the proof of evidence on the defendant by substituted means to wit; by pasting the charge at the last known address of the defendant within the jurisdiction of this honourable court being: 9, Benghazi Street, Wuse Zone 4, Abuja. “An order directing and/or issuing an arrest warrant for the immediate arrest of the defendant for the purpose of bringing him before this honourable court for arraignment.” In his ruling on the motion Justice Emeka Nwite, ordered the immediate arrest of the former governor of Kogi State. He also directed that the former governor be produced before him on Thursday April 18 for arraignment. Nwite said, “It is hereby ordered as follows: “That an order of this honourable court is hereby made directing and/or issuing a warrant for the immediate arrest of the defendant to bring him before this honourable court for arraignment. “That case is adjourned to the 18th day of April 2024 for arraignment,”. Earlier on Wednesday, a High Court sitting in Lokoja, Kogi state, had restrained EFCC from arresting and infringing on the fundamental human rights of Bello. Yahaya Adoza Bello PDPTension, anxiety greet PDP NEC meeting, as pressure mounts on Damagum to resign Bello El-RufaiProbe: Stop threatening Kaduna assembly, Speaker tells el-Rufai’s son About the author https://dailytimesng.com/alleged-n80bn-money-laundering-efcc-arraigns-yahaya-bello-today/
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Politics / We’re Resolute In Achieving Economic Security For All Nigerians – Tinubu by Karrrion: 9:09am On Apr 18 |
President Bola Tinubu has assured Nigerians of his administration’s undeterred commitment to achieving comprehensive economic security for the country while addressing foundational challenges and creating a fair and equitable system in which all Nigerians can thrive. The President gave the assurance on Thursday when he received leaders of Afenifere, the respected Yoruba Socio-Cultural Organisation, at the State House in Abuja. Tinubu said his administration is re-engineering Nigeria’s finances and seeking to boost the purchasing power of citizens, and spread prosperity down the line, by instituting a credit system where the element of cash is not an impediment to a significantly enhanced standard of living for all citizens. He said Nigeria must secure itself economically first before it can achieve any of its more sophisticated objectives. ‘’We are committed to the economic survival of our country. To re-engineer the finances of our country, we must start in earnest. So first, retool, revamp the economic opportunities available, and resolve to continue taking the firm and steady baby steps that are necessary. ‘’Education is a strong weapon against poverty. To empower the people, we must invest in the future of our youths. We have seen the problems parents face in training their children in school; it is the reason why we established the National Student Loan Programme, which is taking off well. ‘’We are equally examining what to do with the high degree of unemployment. We must help vulnerable people by providing social security. We are looking at how to provide allowances for the unemployed, and we are developing ways to boost the purchasing power of citizens with the Consumer Credit Scheme. If we remove the cash upfront element to buy a car or a house, we will reduce the propensity for fraud and corruption across the land,’’ President Tinubu said. Speaking on security, the President declared that those who threaten the sovereignty of Nigeria would pay a heavy price. ‘’I am irrevocably committed to the unity of Nigeria and constitutional democracy. Constitutional democracy is reflected greatly here since we assumed office. What we face now is the challenge of terrorism. Security of life and property is very necessary for development. I can tell you we are achieving success. We have degraded terrorism to a level that they cannot threaten the sovereignty of Nigeria any longer. ‘’Banditry and kidnapping will be defeated. And there is no payment of ransom whatsoever. We are taking the battle to them. We are getting results more rapidly than before. We are working hard on intelligence gathering. Those who think they can threaten the sovereignty of Nigeria will have themselves to blame. They have a price to pay. And we are not going to relent,’’ the President affirmed. The President thanked the esteemed delegation for their prayers and support, assuring them that he would not relent in his resolve to advance Nigeria. ‘’God bless Nigeria. God bless our unity; our diversity must bring prosperity for all for the sake of Nigeria,’’ President Tinubu concluded. Earlier in his remarks, His Royal Majesty, Oba Olu Falae commended the President for his courageous decisions and for the rehabilitation of the Third Mainland Bridge in Lagos, as well as other critical ongoing projects. READ ALSO: ‘FG has not been funding power sector subsidy’ He urged the President not to relent in ensuring fairness and equity for all Nigerians while noting the importance of a constitutional amendment to devolve more powers to the states. ‘’We are delighted about what you are doing for our country, and we assure you of our continued support. We thank you for your visit to Akure in February 2024, and we believe it is right and proper to reciprocate your kind gesture. We appreciate this relationship, and we need to make it work in the interest of Nigeria. ‘’Mr. President, you are the leader of Nigeria now and the most important political figure in Africa. We expect you, in view of your legacy and pedigree, to lead our country with knowledge, courage, and integrity. We have no doubt that your tenure will mark a turning point in the history of our country. Under your leadership, Nigeria will be repositioned. ‘’We will stand by you as you make all efforts to change the Nigeria story for the better. Be assured Afenifere will not abandon you in fair or foul weather. As long as you remain faithful to the principles of fairness, integrity, and courage that is expected of you as the leader of Nigeria, we will stand by you,’’ Oba Falae said. The delegation was led by Pa Reuben Fasoranti, leader of Afenifere; Oba Falae, alongside other eminent citizens. https://dailytimesng.com/were-resolute-in-achieving-economic-security-for-all-nigerians-tinubu/
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Politics / FG Has Not Been Funding Power Sector Subsidy’ by Karrrion: 8:03am On Apr 18 |
A stakeholder in the electricity power sector has said that the Federal Government’s inability to fund the payment of electricity subsidy is hampering the growth of the sector. Recently, the Federal Government through the NERC increased the electricity tariff from N58 to N258 per Kilowatts of electricity. Speaking with The Business Times in Abuja, the industry player, who did not want his name in print, said the Federal Government’s attitude was almost pushing the power companies out of the market. He said: “The federal government says it is paying subsidy, it says so, it is not allowing the industry to charge correctly because it says that it is paying subsidy. “The reality is that the federal government has not been paying that subsidy. It is paying it in mouth only; it is not remitting the money. “The power companies have been crying out. For instance, the system owes Niger Delta Power Holding Company (NDPHC) up to N500 billion. The system owes the Egbin power plant around N1.3 trillion. So, if you have an industry that is being owed like that, how do you think they will be able to perform efficiently? Put yourself in the place of a business advisor, is it possible for that company to thrive and continue to do well?” He added that with the rising price of gas and the Federal Government’s inability to fund the subsidy payment, it was only a matter of time before the companies hike tariff. “The second one is this: gas prices have gone up tremendously in recent times. Government is not producing gas, those who are producing gas are companies, and they are mostly joint venture companies. The federal government does not have a gas company that can produce gas and sell to Nigerians in a cheap manner. They have the option of selling to the international market. And you know what has happened to the Naira, remove that and add it to what is happening. “So, there is no way that gas will continue to be purchased at that rate. Government now says it is no longer ready to pay for that difference. So, naturally, they have to increase prices, that is what has just happened,” he said. Meanwhile, Nigerians have continued to condemn the sharp increase in the price of electricity. They said that despite the current economic realities, the Federal Government still allowed the distribution companies to increase electricity prices. According to them, the increase was unjustified especially with irregular power supply. In rolling out the new price, the NERC classified electricity users into Band A, B, C, and D depending on the number of hours of electricity that they consume. But with many areas not getting electricity, public affairs commentator, Taiwo Adisa, said the classification is just a clever way to increase tariff. “I can bet it that the DISCOS won’t adhere to the Bands in practical terms. The first thing to ask is where are the places that enjoy 20-hour supply? We can count them on our fingers if they even exist because as soon as Adelabu started this drive for increased tariff, the DISCOS have been dancing palongo with supplies,” he said. Media practitioner, Fidelia Soworei, described the classification, saying it is another means to defraud Nigerians. She said: “The classification is a fraud. It is a cunning way to extort money from helpless Nigerians. The regularity of power supply conflicts with the hours of supposed frequency of supply captured under each band. “Again, you have to shout because silence will embolden them to plan a worse evil.” With constant grid collapse leading to power outages, Nigerians say the Federal Government is just dancing to the dictates of the power companies. In a chat with this newspaper, General Manager, Transmission Company of Nigeria (TCN), Ndidi Mbah, explained that the company is not solely responsible for the collapse of the national grid. According to her, the national grid is a question of demand and supply. “If there is not enough gas supply to thermal plants to generate enough power for us to transmit as demanded by the distribution companies, there is little we can do because the grid is a question of demand and supply. “If TCN is struggling to maintain the stability of the grid when generation is very low, demand would surpass supply, and this could lead to system instability, which invariably could cause system collapse depending on the severity. “There are numerous factors that can cause grid collapse. It’s not a matter of TCN sitting down to checkmate grid collapse. A sudden drop in major load off-take by distribution companies can cause grid instability, which may lead to grid collapse. Also a sudden major drop in generation can have the same effect. “Again, there is the issue of spinning reserves. Now that we don’t have a spinning reserve, if there is a sudden drop in generation, for instance, the spinning reserve ought to come in, to compensate for loss of power and help stabilize the grid. And because we don’t have any spinning reserve presently, if there is a sudden large drop in generation, there will be an instant imbalance or mismatch between the generation and demand from the distribution end, which can lead to system collapse. The Transmission arm can also suddenly face a challenge that can cause collapse. There are so many other things; it’s not one thing that you can just go and fix,” she added. Nigerians have been accusing the Federal Government of allowing the DisCos to continue to exploit Nigerians through estimated and outrageous billing. According to them, the regulatory authority for the sector has not been doing their jobs thus, allowing the distribution companies to ride roughshod on Nigerians. Referring to the blatant fraud by the Abuja Electricity Distribution Company (AEDC) before it was called to order by the NERC, legal practitioner & CEO of Sage Consulting, Dr. Bode Fadipe, told The Business Times that it was time the government begin to clamp down on power companies that fail to perform based on the privatization agreement. Fadipe, whose company undertakes power sector policy analysis, said: “For me, the government has to be able to bite harder. For instance, the government in its wisdom took over one of the DisCos in the North, and that is a good move. It’s been in the news that the government plans to take over another one in the South-south; whether that has taken place I don’t know. March 3 was set as a deadline for the takeover of the DisCos in the South-south region. “The government must be ready to make sure that they play by the rules, anyone that is not playing by the rules; they take over and put it up for sale again.” He said further that the government needs to come clean also, if it is to effectively supervise the power companies for the benefit of Nigerians. He said: “And then of course, it’s not going to be the value chain members alone, the government must make sure that it is coming to equity with clean hands. If the government is asking the value chain members to perform, it must be able to do its own part. “The government itself must come to equity with clean hands. I know that when AEDC published the lists of debtors, the military was one of them owing about N12 billion, no business can survive on that kind of huge outstanding not to talk of even the entire market owing the gas suppliers about $1.3 billion. I mean, that’s humongous, that’s something terribly huge. You see that there are different angles to the issues of inefficiencies that we see in the power sector on a delay basis, and rather than get out of it, we are even digging further. https://dailytimesng.com/fg-has-not-been-funding-power-sector-subsidy/ |
Business / Re: by Karrrion: 11:25am On Jul 09, 2023 |
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Investment / Re: Fueless generator by Karrrion: 8:35am On Jul 09, 2023 |
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