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Tuition hike: 50% of students may drop out in two years – ASUU

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***Says student loan policy will fail

The President of the Academic Staff Union of Universities, Prof Emmanuel Osodeke, has raised the alarm over the looming 40 to 50 per cent of students whom he predicts may drop out of school within the next two years if the Federal Government fails to stop the continuous fee hike in the universities.

Osodeke made this known while speaking on the current situation in the Nigerian education sector on Channels TV on Sunday night.

According to him, the heavy fees being imposed on students across the nation would result in a massive dropout of students, due to their inability to cope with the payments.

He said, “If nothing is done about these heavy fees being introduced by schools all over the country, in the next two or three years, more than 40 to 50 per cent of these children who are in school today will drop out.”

The varsities’ union president also warned of a looming national problem if his prediction of a massive dropout of students nationwide comes to reality.

According to him, dropping out of school will result in idleness, which could make them easy targets for perpetrators of evil.

“When they drop out, they will become a big feed for recruitment for those who want this country to be ungovernable.

“This is what we are saying, create the environment we have in the 60s and 70s. When I was a student, the government was paying me for being a student. Let’s have an environment where the children of the poor can have access to education.

“School fees of N300,000, how can the children of someone who earns N50,000 a month be able to pay such a fee?”

However, he urged the government to increase budgetary allocation to education to at least 15 per cent of the total budget sum.

He lamented that the 3.8 per cent allocated to education in the last budget was nothing to write home about, saying with an increase in budget allocation to education, parents would be relieved of the burden of paying high fees for their children.

Speaking further, he expressed pessimism that the student loan policy of the government would fail. He added that for the loan policy to work, it has to be reviewed.

“When you are talking about student loans, you have to be comprehensive. There is nothing to show that it would work.

“There is a need for a review. Check what happened in the past and see how we can move forward. But for us, our idea is that instead of calling it a loan, let us call it a grant.

“If you look at the conditions, 90 per cent of the students will not have access to that loan. The condition that you must have parents who earn less than N500,000 per annum [is harsh]. How many people earn less than N500,000 per annum?”, he said.

 

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VICE PRESIDENT SHETTIMA TO ATTEND NACC 65TH ANNIVERSARY GALA IN LAGOS

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The Nigerian-American Chamber of Commerce (NACC) is set to celebrate its 65th anniversary with a grand gala dinner, featuring His Excellency, Vice President of Nigeria, Alhaji Kashim Shettima, as the Special Guest of Honour.

 

The prestigious event will take place on April 12, 2025, at Lagos Continental Hotel, Victoria Island, Lagos, with the red carpet reception commencing at 5:00 PM.

 

The highlight of the evening will be the inauguration of Alhaji Sheriff Balogun as the 20th President of NACC.

 

Alhaji Balogun will also unveil his leadership team, while outlining strategic initiatives to strengthen bilateral trade relations between Nigeria and the United States.

 

As part of the evening’s programme, 40 new members will be inducted into the chamber, and the NACC multi-storey building project will be officially launched.

 

The gala will also honour outstanding Nigerian and American companies and distinguished individuals, including past presidents of the chamber, for their contributions to economic growth and trade relations.

 

The President of Africa Finance Corporation (AFC), Mr. Samaila Zubairu, will chair the event.

 

Dignitaries confirmed to attend include Governor Uba Sani of Kaduna State, Governor Dauda Lawal of Zamfara State, Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, Founder and Chairman of Elizade Group, Chief Michael Ade-Ojo and Chairman of Odu’a Group, Otunba Bimbo Ashiru.

 

Others are Founder of Afe Babalola University, Aare Afe Babalola, Chairperson of Brittania-U Nigeria Limited, Catherine Uju Ifejika, Comptroller General of the Nigerian Customs Service, Bashir Adewale Adeniyi, and Chairman of Zinox Technologies Limited, Leo Stan Ekeh.

 

His Excellency, Governor Babajide Sanwo-Olu of Lagos State, will serve as the Chief Host of the occasion.

 

For 65 years, the Nigerian-American Chamber of Commerce has been at the forefront of fostering bilateral trade relations between Nigeria and the United States, serving as the premier platform for business growth, networking, and investment opportunities.

 

The Chair of the Planning Committee, Dr.Ikenna Nwosu, says all the guests will be treated to one of the grandest anniversary galas ever experienced in the country.

 

 

*VICTOR OJELABI*

Senior PR Associate

Neo Media & Marketing | Chair, Publicity Committee, NACC Presidential Inauguration Dinner & Awards Night

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NAFDAC reopens Onitsha market, confiscates over 50 trailers of fake drugs

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The National Agency for Food and Drug Administration and Control, NAFDAC, has finally announced the reopening of the Onitsha Drug Market and other adjoining markets after nearly one month of closure.

The South-East Zonal Director of the agency, Mr Martins Iluyomade, revealed this on Thursday after a meeting between officials of the agency, the Anambra State government, and market union leaders. He stated that business will officially resume in the markets on Friday.

Other markets, including the plumbing materials market, timber market, surgical materials market, and science laboratory materials market, among others, were affected early last month when the agency shut them down in its fight against illicit drugs.

Iluyomade, who addressed government officials and market leaders before announcing the reopening, said:

“What is happening here goes beyond only Ogbogwu (drug) market; it extends to other markets around this area, and that was why we took the steps we did by closing down everywhere.

“I know there was a lot of apprehension, and people were asking why we locked other markets that had nothing to do with drugs. It seemed as if we were out to punish those who had no involvement. We did not respond because we did not want to join issues, but we found drugs in all the markets we closed.

“What we found in other adjoining markets was just as much as what we found in Ogbogwu market. We did what we did because, if we hadn’t, we wouldn’t have covered the ground we were able to cover.

“We were here last year for an operation, but our men were beaten, and even an officer of the Federal Republic was stripped naked for doing his legitimate duty. We had to lock up everywhere because, if we hadn’t, there would have been collateral damage. This is a major drug market, and if something goes wrong here, drug supplies all over the country will be contaminated.

“We know that since the Federal Government was determined to sanitize this market, if there had been any attack on us, our security men would have reacted, and the damage would have been high. We thank Governor Soludo for his visit. When he heard what we did here, he called to express concern about the welfare of his people, and when we explained to him, he backed the effort to sanitize the market. He later visited us and reiterated the same support as long as what we were doing was right.

“People were already bringing ethnic coloration into it, but I thank the governor for not listening to them. In fact, the governor said there was a need for us to save ourselves because fake drugs kill indiscriminately, regardless of ethnicity.

“The DG of NAFDAC took this assignment as if her life depended on it, and every day she kept calling to know the state of operations. NAFDAC has also committed a lot of resources to this, and she has made a commitment to ensuring that fake drugs are exterminated in Nigeria.”

Speaking on the agency’s findings in the markets, the Zonal Director said:

“It is saddening to see that we have people among us whose only way of making money is by destabilizing the country and killing people.

“We have confiscated over 50 trailers of fake and substandard drugs. Many are still in warehouses in town, and we are coming after them. The volume of narcotics we saw here is enough to destabilize any nation. There is a link between the circulation of narcotics and insecurity. Check any country experiencing insecurity and a breakdown of law and order, and you will see that narcotics are in high supply.

“The number of narcotics we have found here is alarming. The people dealing in them know the effects, but they continue because the sale of narcotics is said to be more lucrative than cocaine.

“We have also seen people who deliberately import substandard and fake drugs. Some import tablets in nylon bags with no labels, then bring them here, repackage them, and put labels on them for sale. We saw a lot of it. We also found medicines that had been banned as far back as 2007, yet people are still stocking them.

“Many of these drugs were banned because they cause cancer, and new replacements were produced, but people still stock them. That is wickedness. Another category is unregistered drugs. These medicines are usually displayed in small quantities on counters, but large caches of them are stored in warehouses outside the market.”

Iluyomade noted that even some genuine drugs are stored in ways that cause them to lose their efficacy and become harmful long before their expiration date.

“Drug storage is also a problem. There is no ventilation in any of the storage facilities we visited. Medicines are supposed to be kept under specific conditions to maintain their effectiveness. Medicines are chemicals, and even those selling registered original medicines have had them expire long before their expiry dates.

“All the storage facilities are packed to the brim, locked with the biggest padlocks, and left without ventilation. We found a drug for women in labor stored in the plumbing materials market. The warehouse was full and hot, yet the drug’s packaging specified that it should be stored between 2-8 degrees centigrade. But someone stored it in an oven-like environment. So when people say, ‘What about those of us selling good medicine?’ we just laugh. What good medicine are you selling?

“We must take our healthcare delivery seriously, and that is what NAFDAC is doing. As an agency, we are not out to make life difficult for you, but we are working with the mandate given to us.

“We have pasted notices on some shops, and those who find them must know they have been invited and must report to our office. The markets will be reopened tomorrow. We have met with your union leaders, and they must ensure they report any suspicious activity to us.

“If this happens again, we will still close the market. Also, we will not tolerate any attack on our officials. If it happens again, we will shut down the market.”

Iluyomade stated that although the market will reopen on Friday, about 4,000 shops will remain locked until their owners explain certain drugs found inside.

Market union leaders expressed happiness about the reopening of the markets and pledged to work with the agency to identify traders who continue to deal in illegal drugs.

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Federal High Court Orders Final Forfeiture Of N2.1Trillion Linked To Ex-Central Bank Governor Emefiele

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A Federal High Court sitting in Lagos has ordered the permanent forfeiture of $1,426,175.14 (equivalent to N2,144,867,578.30) allegedly linked to fraudulent activities involving former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.

The ruling, delivered by Justice Ayokunle Faji on Thursday, upheld the Economic and Financial Crimes Commission (EFCC)’s case that the funds were proceeds of unlawful activities and must be forfeited to the Nigerian government.

The EFCC, represented by counsel Bilkisu Bahri-Bala, told the court that the money was traced to an account belonging to Donatone Limited at Titan Trust Bank, with account number 2000000500.

The commission argued that the funds were linked to fraudulent schemes orchestrated under Emefiele’s tenure.

According to an affidavit deposed to by EFCC investigator David Jayeoba, intelligence reports led to the discovery of the suspicious funds.

“In the course of my investigation, the Commission received credible and direct intelligence which led to the tracing of funds reasonably suspected to be proceeds of unlawful activities warehoused in the Donatone Limited (DL) Titan Trust Bank account,” the affidavit reads.

The EFCC’s investigation, which focused on what it described as “monumental fraud” carried out by Emefiele and his associates, allegedly uncovered a complex scheme of financial concealment.

Jayeoba further revealed in the affidavit: “The investigation revealed that some of the brains behind the fraudulent concealment of funds reasonably suspected to have been proceeds of unlawful activities of the erstwhile Central Bank of Nigeria’s Governor, Mr Godwin Emefiele, are the natural persons Uzeobo Anthony and Adebanjo Olurotimi, directors of DL.”

“That part of the said funds, which represent the proceeds of Emefiele and his cronies’ unlawful activities, are retained in the accounts now sought to be forfeited. These directors were procured by Emefiele and used to conceal, retain, and disguise funds which are the proceeds of unlawful activities.”

The investigation also highlighted the role Emefiele allegedly played in the foreign exchange crisis that gripped Nigeria during his tenure.

The EFCC alleged that between 2021 and 2022, when forex accessibility was severely restricted, the former CBN governor and his associates collected bribes from companies desperate for foreign currency approvals.

Jayeoba disclosed: “One of the entities (NP) paid a total sum of Twenty-Six Million Five Hundred and Fifty-Five Thousand Million Dollars ($26,552,000.00) into the account of (DL) domiciled in Titan Trust account number 200000.”

The court had previously granted an interim forfeiture order on May 30, 2024, before making the forfeiture permanent in its latest ruling.

Emefiele, who served as CBN governor from 2014 to 2023, has faced multiple allegations of corruption and abuse of power.

His tenure was marked by policies that many Nigerians say worsened economic hardship, including the controversial naira redesign and cashless policy, which led to a severe cash crunch across the country in early 2023.

Under the policy, the CBN aggressively pushed for digital transactions, limiting cash withdrawals and withdrawing old naira notes from circulation.

The move caused widespread suffering as millions of Nigerians, especially in rural areas, struggled to access basic necessities due to a lack of cash. The crisis led to protests, business closures, and an economic downturn.

While the policy was framed as a strategy to curb inflation, reduce corruption, and drive financial inclusion, critics argue that it was poorly implemented and primarily served the interests of a corrupt elite.

 

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