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Moghalu says economy better under PDP, presidency faults claim

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The Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi, and a former Deputy Governor, Central Bank of Nigeria, Kingsley Moghalu, on Wednesday, traded blame on the state of the nation’s economy under the administrations of the ruling All Progressives Congress and opposition Peoples Democratic Party.

Moghalu had claimed in a series of tweets via his X handle on Wednesday that the nation’s economic state, which had experienced a downward trajectory in the past 40 years, only saw the light of the day “briefly” under the administration of former President Olusegun Obasanjo.

Moghalu added that the improved economy was also observed during subsequent PDP-led governments of the late Umaru Yar’Adua, and Goodluck Jonathan.

The former CBN deputy governor, who served from 2009 to 2014, added that from 2015 till date, Nigeria has fallen under a “completely incompetent economic management.”

The tweet read, “Nigeria’s economic distress is simply part of a 40-year downward trajectory that was broken only briefly by the Obasanjo civilian presidency and to some degree under Yar’Adua/Jonathan (up to mid-2014). Ever since, especially from 2015, we fell under completely incompetent economic management and have not recovered.”

The political economist called on the Federal Government to lay a “real foundation for longer-term economic transformation,” while stating that “80% of Nigeria’s exports in 2023 was oil tells you we have yet to get serious..”

Moghalu noted that the presidential palliatives initiative is not a good economic tool to curb poverty, and consequently improve wealth distribution.

“Palliatives (just google the dictionary definition of the word) will never reverse poverty. Wealth is positively created,” he stated.

Moghalu, a former presidential candidate of the Young Progressives, also criticised the appointments of the nation’s economic management team, stating, “Real economic thinking is not happening, so economic transformation can’t follow. Like it or not, individuals in certain positions matter. Sanusi and Ngozi Okonjo-Iweala made a huge difference in their roles. That’s because they had capacity. Their appointments went above politics of cronyism. The results, which is what matters more than sound and fury at the end of the day, followed.”

The tweet concluded, “May we recover one day. Like it or not, appointments have real consequences.”

Reacting to the tweets later in the day, President Bola Tinubu’s aide, Ajayi, admitted that the Obasanjo-led administration from 1999-2007 truly paved the way for some economic reforms, yet “Nigeria didn’t see any progress in infrastructural development” that would have a “direct bearing on the quality of life.”

Ajayi wondered how Moghalu and some others claimed that their era in government was the “golden era of competence” in the nation’s economic management.

Ajayi lamented how Moghalu and his former principal, Sanusi, at the CBN, couldn’t explain the whereabouts of the missing $20 billion in oil revenue, adding that “hundreds of millions of dollars were looted under various guises yet Moghalu wants us to believe that that period was the gold standard in economic management in Nigeria.”

“That period till 2015 was a period of trillions of unpaid salary and pension arrears. A period when contractors were owed hundreds of billions with thousands of abandoned and uncompleted projects,” Ajayi stated.

The presidential aide also noted that since 2015, the nation enjoyed key reforms and changes under the ruling APC government, part of which were the payments of owed salaries and pensions, “massive investments in critical economic infrastructure,” and the “reconstruction of 13,000 kilometres of roads across the country out of 33,000 kilometres of Federal roads in 8 years of President Buhari.”

Ajayi claimed that during the handover of government from Jonathan to the immediate past president, Muhammadu Buhari, on May 29, 2015, Nigeria’s Gross Domestic Product “declined from 7% growth rate to 2% and Nigeria was already primed for recession which eventually happened with collapse of crude oil price.”

“It should be said too that every indices of measuring economic growth significantly declined from 2010- May 2015, a period when Moghalu was Deputy Governor at CBN,” he added.

Ajayi lamented that Nigeria’s foreign reserve dropped about 52 per cent “from the height of $60 billion to $29 billion when Moghalu was part of the ‘competent leaders’ in government and Excess Crude Account dropped from $20 billion to $2 billion at the time crude oil sold for $100 per barrel for straight 4years from 2011-2014.

“The period between 2010-2014 was when Nigeria made most money from crude oil in history yet nothing to show for it.”

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BREAKING: Pope Francis dies at 88

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Pope Francis has died at the age of 88.

The Vatican confirmed that the pontiff passed away on Easter Monday at his residence in the Casa Santa Marta within Vatican City.

Camerlengo of the Apostolic Chamber, Cardinal Kevin Farrell, announced the death of Pope Francis from the Casa Santa Marta on Monday morning.

Farrel said the Pope died at exactly 7.35am.

His death comes hours after he greeted Catholic faithful who were at the Vatican on Sunday for the Easter mass.

The announcement by Cardinal Farrel read, “Dearest brothers and sisters, with deep sorrow, I must announce the death of our Holy Father Francis.

“At 7:35 this morning, the Bishop of Rome, Francis, returned to the house of the Father.

“His entire life was dedicated to the service of the Lord and of His Church. He taught us to live the values of the Gospel with fidelity, courage, and universal love, especially in favour of the poorest and most marginalised.

“With immense gratitude for his example as a true disciple of the Lord Jesus, we commend the soul of Pope Francis to the infinite merciful love of the One and Triune God.

”It would be recalled that Pope has been undergoing recovery after he was discharged from the Agostino Gemelli Polyclinic Hospital.

After 38 days in hospital, the late Pope returned to his Vatican residence at the Casa Santa Marta to continue his recovery.

The Pope was admitted on Friday, February 14, 2025, after suffering from a bout of bronchitis for several days.

Pope Francis’ clinical situation gradually worsened, and his doctors diagnosed bilateral pneumonia on Tuesday, February 18.

In 1957, in his early 20s, Jorge Mario Bergoglio underwent surgery in his native Argentina to remove a portion of his lung that had been affected by a severe respiratory infection.

As he aged, Pope Francis frequently suffered bouts of respiratory illnesses, even cancelling a planned visit to the United Arab Emirates in November 2023 due to influenza and lung inflammation.

In April 2024, the late Pope Francis approved an updated edition of the liturgical book for papal funeral rites, which will guide the funeral Mass, which has yet to be announced.

The second edition of the Ordo Exsequiarum Romani Pontificis introduces several new elements, including how the Pope’s mortal remains are to be handled after death.

The ascertainment of death takes place in the chapel, rather than in the room where he died, and his body is immediately placed inside the coffin.

According to Archbishop Diego Ravelli, Master of Apostolic Ceremonies, the late Pope Francis had requested that the funeral rites be simplified and focused on expressing the faith of the Church in the Risen Body of Christ.

“The renewed rite,” said Archbishop Ravelli, “seeks to emphasise even more that the funeral of the Roman Pontiff is that of a pastor and disciple of Christ and not of a powerful person of this world.”

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JUST IN: Senate shifts resumption to May 6

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The leadership of the 10th Senate has announced a shift in the date of its resumption.

The earlier date for resumption was fixed for April 29, 2025.

However, the new date has been adjusted to May 6.

The announcement was contained in an internal memo dated April 20, 2025, addressed to all senators and signed by the Senate Clerk, Andrew Ogbonna Nwoba.

The postponement was hinged on the International Workers’ Day public holiday, which is celebrated on May 1 and for the lawmakers to take their time to attend to key constituency engagements.

The circular reads, “Distinguished Senators, I am directed to inform you that the resumption of plenary sittings of the Senate, earlier scheduled for Monday, 29th April 2025, has been rescheduled to Tuesday, 6th May 2025.

“This postponement is made to allow Distinguished Senators to stay with their constituents during the International Workers’ Day public holiday in the first week of May and to further enhance constituency engagements.

“Distinguished Senators are kindly requested to take note of this postponement while regretting any inconvenience the change might have caused.”

Recall that the Senate had on March 27 adjourned the plenary to allow lawmakers to observe the Easter and Eid-El-Fitr holidays.

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Judgment analysis: Report me to LPDC, Falana dares Wike

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Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has dared the Minister of the Federal Capital Territory, Nyesom Wike, to report him to the Legal Practitioners’ Disciplinary Committee over his (Falana’s) analysis of the Supreme Court judgment on the Rivers State politucal crisis.

Falana, in a statement on Sunday, titled “I Did Not Lie Against the Supreme Court of Nigeria,” accused Wike of trying in vain to incite the Supreme Court against him.

The SAN said contrary to Wike’s claim, he did not lie or misrepresent the Supreme Court’s decision concerning the defection of 27 members of the Rivers State House of Assembly.

Falana dismissed Wike’s claims as “spurious and tendentious in every material particular,” accusing the minister of attempting to incite the apex court against him.

Wike had publicly criticised Falana during a press conference in Abuja, asserting that the senior lawyer misrepresented the Supreme Court’s ruling on Channels TV.

Wike said, “If someone of Femi Falana’s calibre can go on national television and lie, it’s very serious. Lies can cause a lot of crises.

”In response, Falana explained, “Mr. Wike subjected me to another scurrilous attack in a press conference, where he alleged that I lied about the defection status of certain legislators during my appearance on Channels TV.”

He added that the issue of the lawmakers’ defection was still pending before the Federal High Court in Port Harcourt when the Supreme Court made its ruling.

Falana clarified, “I did not lie against the Supreme Court in respect of the judgment in question.

All I said was that the matter of the defection of the 27 legislators was raised suo motu and determined by the eminent Justices of the apex court.

”He further asserted that there were video tapes and a sworn affidavit in which the lawmakers confirmed their defection from the Peoples Democratic Party to the All Progressives Congress.

Falana emphasised that his right to criticise court judgments is protected by both the Nigerian Constitution and international human rights law.

“My fundamental right to criticise the decisions of courts is guaranteed by Section 39 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), and Article 9 of the African Charter on Human and Peoples’ Rights,” he said.

The SAN accused Wike of hypocrisy, pointing out that the minister has a history of attacking judges when rulings do not align with his political views.

Falana added, “Unlike Mr. Wike, who calls judges names whenever they disagree with his politics of opportunism, I have always criticised the judgments of domestic and regional courts with utmost decorum and in good faith.”

He referenced a famous statement by the late Justice Oputa in the Adegoke Motors Limited v. Dr. Babatunde Adesanya case: “We are final not because we are infallible; rather, we are infallible because we are final,” highlighting the judiciary’s openness to criticism.

Falana also quoted former Chief Justice of Nigeria, Ibrahim Tanko Muhammad, who once said, “You have the responsibility of drawing our attention to where things are going wrong or on the verge of going wrong.

”Falana challenged Wike to take legal action if he believed Falana had breached professional conduct.

“Since he has become the unsolicited defender of the judiciary, I challenge him to report me to the Legal Practitioners Disciplinary Committee for professional misconduct,” Falana said.

On the issue of legislative defection, Falana warned that the Supreme Court’s recent stance—requiring proof of defection through a party’s membership register—could embolden “unpatriotic politicians to justify political prostitution in Nigeria.

”He urged the court to adhere to its earlier rulings, such as in Attorney-General of the Federation v. Abubakar and Abegunde v. Ondo State House of Assembly, where it ruled that legislators who defect automatically lose their seats.

Falana concluded that Wike’s attempts to discredit him had failed.

“It is indubitably clear that the allegation leveled against me by Mr. Wike is spurious… He has failed in his desperate bid to incite the Justices of the Supreme Court against me without any basis whatsoever.

”In a recent media outburst, Wike taunted Falana for losing a case he had won at the Supreme Court, dubbing him “a television lawyer.”

Falana chose not to engage with Wike’s comments at the time, stating, “Mr. Wike is the only life bencher in Nigeria who has never handled a case in any trial court or appellate court.

”Falana further added, “It is no crime if a lawyer loses a case in any court. Only a corrupt lawyer wins all cases in all courts.”

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