Nyesom Wike

PDP NWC Submits Reports On Wike Ahead Of Thursday’s NEC Meeting

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PDP NWC

PDP NWC to present report on anti-party activities to NEC, including involvement of Nyesom Wike. Discussion on the future of acting National Chairman Umar Damagum also on agenda. 52 members of National Caucus Committee expected to attend, focusing on reconciliation and disciplinary issues. EKO HOT BLOG reports that the National Working Committee (NWC) of the Peoples … Read more

PDP: Minority Leaders Disown 60 lawmakers Over Call For Damagum’s Resignation

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Minority leaders disown 60 lawmakers

Minority leaders disown 60 lawmakers calling for resignation of PDP’s acting National Chairman, Umar Damagum. The Coalition of Opposition Lawmakers threatens to quit PDP if Damagum doesn’t resign, prompting a reaction from minority leaders. Minority leaders condemn the coalition’s actions, stating they are unknown to the parliament and do not represent minority parties’ views. EKO … Read more

Fubara: ‘You’re Known For Lying, Disrespecting Elders’ – Ex-Rivers Gov Slams Wike

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Ex-Rivers Gov Slams Wike

Fubara: ‘You’re Known For Lying, Disrespecting Elders’ – Ex-Rivers Gov Slams Wike Wike’s recent statement labeling certain PDP leaders in Rivers State as “expired politicians and buccaneers” sparks controversy. Omehia condemns Wike’s unchecked outbursts and advises him to focus on his duties in Abuja, highlighting Wike’s inconsistency and disrespect towards elders. EKO HOT BLOG reports that … Read more

Wike Unveils Detailed Plan For Allocation of FCT’s N1.28 Trillion Budget

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Allocation of FCT's N1.28 Trillion Budget

FCT Minister Nyesom Wike Unveils Detailed Plan For Allocation of FCT’s N1.28 Trillion Budget. 70% of the budget allocated to capital expenditure, with emphasis on completing ongoing projects and initiating new ones. Financing sourced from financial markets using the FCT’s IGR, aiming to expedite project completion and restore contractor confidence. EKO HOT BLOG reports that the … Read more

Tinubu Approves FCT Budget Exceeding N1.1 Trillion For Fiscal Year 2024

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Tinubu Approves FCT Budget

President Tinubu approves FCT budget exceeding N1.1 trillion for fiscal year 2024. FCT minister, Nyesom Wike, announces the approval, highlighting its impact on infrastructure, healthcare, and education. The budget breakdown includes allocations for overhead expenses, capital projects, and personnel, totaling N1.147 trillion. EKO HOT BLOG reports that President Bola Ahmed Tinubu has officially approved the statutory … Read more

Mass Defections Hit PDP as Ex-Minister, Others Join APC

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Eko Hot Blog reports that former Minister of Aviation, Fidelia Njeze, Senator Chukwuka Utazi, and other party stakeholders have defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC). Other prominent members of the PDP who defected to APC are Davidson Nnamani, Princess Juliet Oloto, Chika Idoko, Jonathan Eze, Umunna Ugwu and … Read more

Wike To Borrow N500 Billion To Finance 2024 FCT Budget

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Wike

Minister Nyesom Wike seeks House approval for N500 billion loan for FCT’s 2024 budget. Lawmaker expresses concerns over proposed borrowing, suggests exploring capital market options. Wike urges newly sworn-in FCT officials to pledge loyalty to President Tinubu’s agenda. EKO HOT BLOG reports that Minister Nyesom Wike calls for N500 billion loan approval from House for FCT’s … Read more

Details Of Wike’s Meeting With Senators Emerge

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WIke

EKO HOT BLOG reports that Federal Capital Territory Minister Nyesom Wike, asserted on Wednesday that the administration has been able to stem the wave of insecurity. Making this assertion while appearing before the Nigerian Senate, Wike bemoaned that the challenge is that some of the kidnap cases were stage-managed by individuals working as aides to the … Read more

Naira Stability: CBN Stops IOCs From 100% Income Repatriation

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Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has announced far-reaching measures to shore up the value of the Naira, with more liquidity in the Foreign Exchange (FX) market as it directed International Oil Companies to henceforth repatriate 50 percent of their revenue to Nigeria.

The bank also announced an end to cash Personal Travel Allowance (PTA) and Business Travel Allowance (BTA), as such allowances are henceforth to be obtained in cards.

According to Vanguard, CBN’s Director of Trade and exchange, Dr. Hassan Mahmud, issued two different circulars on the two measures which were released to Dealer banks Wednesday night.

CBN Governor, Michael Cardoso

Until now, IOCs paid their FX earnings 100 percent directly to their parent companies through what is called Subsidiary pools, without the Nigerian FX market benefitting from their export proceeds.

However, under the new policy, the CBN said IOCs will no longer be allowed to remit 100% of their forex proceeds to their parent company abroad as soon as they are earned.

Instead, they will be allowed to repatriate only 50% of their proceeds immediately while the other 50% must be repatriated to Nigeria and the amount held for at least 90 days in Nigeria from the day of inflow before being allowed to be taken out of the country.

The apex bank therefore directed, “banks to pool cash on behalf of IOCs, subject to a maximum of 50% of the repatriated export proceeds in the first instance, the balance of 50 % may be repatriated after 90 days from the date of inflow of the export proceeds.”

The CBN outlined documentation requirements to include: its approval for the repatriation of funds under the “Cash Pooling” transaction; a “Cash Pooling” agreement with the parent entity of the IOCs operating in Nigeria; Statement of Expenditure incurred in the period prior to the cash polling.

Wale Edun, Nigeria’s Minister Of Finance

Others are: Evidence of the source of foreign exchange inflow; and Completion of relevant forex form(s) as required under extant regulations.

The CBN directed all banks to inform their customers and comply with the regulation.

It said that it remained committed to the promotion of transparency in Nigerian FX market and would continue to develop policies to stabilize and deepen the market.

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‘Assistant Superintendent Of Police’ Arrested With Indian Hemp

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Eko Hot Blog reports that the Gombe State Police Command, on Tuesday, arrested 32-year-old David Ochuko, and 27-year-old Jibril Sani, for impersonating Assistant Superintendent of Police. The state Police Public Relations Officer, ASP Mahid Abubakar, while parading the suspects at the command headquarters, said Ochuko and Sani were arrested alongside 22 others for impersonation, conspiracy … Read more

PDP Appoints Ajisafe As National Vice Chairman

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Eko Hot Blog reports that the major opposition party, Peoples Democratic Party (PDP) has appointed Ajisafe Kamoru Toyese as the party’s new National Vice Chairman (South West). The appointment was confirmed in a statement on Friday, by the PDP National Publicity Secretary, Debo Ologunagba. Editor’s Picks  Noise Pollution: Oyo Govt Seals Church In Ibadan Insurgency: … Read more

Fubara Faces Backlash From Rivers APC Over Alleged Disregard For Tinubu

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Rivers

EKO HOT BLOG reports that Rivers State chapter of the All Progressives Congress (APC) has lampooned Governor Siminalayi Fubara, accusing him of showing disrespect towards President Bola Ahmed Tinubu. According to the party, Fubara is not responding positively to the president’s intervention in his ongoing dispute with the Minister of the Federal Capital Territory (FCT), Nyesom … Read more

Kidnapping: Wike Reads Riot Act To FCT Council Chairmen

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Eko Hot Blog reports that the Minister of Federal Capital Territory (FCT), Nyesom Wike, has slammed council chairmen in Abuja for failing to hold monthly security meetings. Wike warned that, henceforth, any of the council chairmen who failed to host the monthly security meeting would be declared a threat to the FCT. The former Governor … Read more

Tinubu Set To Sack Underperforming Ministers

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Eko Hot Blog reports that President Bola Ahmed Tinubu will drop any minister who performs woefully and doesn’t not deliver on his or her mandates. The Special Adviser to President Bola Tinubu on Policy and Coordination, Hadiza Bala-Usman, said this at the opening of a retreat in Uyo, the Awka Ibom capital, on Wednesday. Editor’s … Read more

End In Sight For Rivers Crisis As Fubara Retains Nine Resigned Commissioners Loyal To Wike

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Eko Hot Blog reports that political crisis between Governor Fubara and his political godfather, Nyesom Wike, may be coming to an end as the Rivers State House of Assembly has announced that this week, it will conduct a re-screening and re-confirmation process for nine former Commissioners who recently resigned from the state executive council. The arrangement … Read more

Wike Gives Update On Rivers Crisis Peace Accord, Appreciates Tinubu

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Eko Hot Blog reports that the Minister of the Federal Capital Territory (FCT), Nyesom Wike has said his political camp has fulfilled its part of the peace accord facilitated by President Bola Tinubu, as agreed by all the parties involved in the political crisis in Rivers. Wike stated this when he visited the Oba of … Read more

‘It’s Private’ – Fubara Coy On Details After Meeting Tinubu In Aso Rock

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Eko Hot Blog reports that the Governor of Rivers State, Siminalayi Fubara, met with President Bola Tinubu on Thursday at the Presidential Villa, marking a notable political engagement. Governor Fubara arrived around 5:35 p.m. and proceeded directly to the President’s office. After the meeting, which concluded around 6:30 p.m., Governor Fubara interacted with journalists but … Read more

Thousands Of Protesters Storm National Assembly, Seek Wike’s Resignation

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Eko Hot Blog reports that the thousands of Abuja natives and members of civil society groups gathered in a large protest at the National Assembly complex, demanding the resignation of Nyesom Wike, the Minister of the Federal Capital Territory.

The protesters criticized Wike’s leadership, labeling it as incompetent and lacking vision for the development of the Federal Capital Territory.

Adamu Kabir Matazu, speaking on behalf of the protesters and representing the Network of Civil Societies for Economic Sustainability, urged for an investigation into Wike’s land allocation policies in the FCT.

He said, “We stand united to express our concern over the direction of the Federal Capital Territory (FCT) under the watch of Nyesom Wike. It’s abysmal and disturbing for the FCT to become an epicentre of controversy due to the misguided actions of Wike, which not only undermine President Tinubu’s renewed hope agenda but also cast a shadow on the credibility of the federal government.

“We are here today to demand the immediate resignation, investigation and prosecution of Nyesom Wike as Minister of the FCT due to his inefficiency in a government that promises to renew the Hope of Nigerians.

FCT Minister, Nyesom Wike

A government that wishes to give hope to its citizens must be run by men who possess required qualities of a leader.

“Wike has remained inefficient in the discharge of his duties and has failed to live up to the vision of the administration of President Bola Tinubu and should therefore be sacked from office. While the Federal Government has been calm and calculated in its reforms and its explanations to citizens on the rationale behind the policies of government, Wike has been insensitive; insulting the collective sensibilities of residents of the Federal Capital and Nigerians in general.

“Many residents are of the views that the land reforms being carried iut by Wike are suspected to be targeted at dispossessing Nigerians of their properties.

“His high-handedness in land policies, the revocation of lands, perceived animosity towards a particular section of the country, and the alarming manner in which lands are allocated, is suspicious. His actions do not align with the government’s agenda for reforms and development in the FCT. Mr. Wike’s tactics, reminiscent of an emperor which he exhibited during his tenure as governor of Rivers State are detrimental to the progress and growth we seek for our FCT and the nation at large.”

The Network of Civil Society for Economic Sustainability, therefore, called on Tinubu to take decisive action to contain the excesses of Wike.

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Party Chair, Damagum Reveals Why PDP Will Not Sanction Wike, Other Disloyal Members

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Eko Hot Blog reports that Peoples Democratic Party (PDP) acting chairman, Umar Damagum, has admitted that many of its members were involved in anti-party activities at different levels during the 2023 election and the National Working Committee (NWC) under his leadership will not suspend nor dismiss any disloyal member. Damagum, while addressing the PDP Mobilisers … Read more

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