PRESS RELEASE

In what appears to be a landmark economic decision of the Bola Tinubu-led administration, the Federal Government last year, precisely on August 16, 2023 through the Nigeria National Petroleum Company (NNPC) secured a $3.3 billion emergency crude repayment loan, which according to the NNPC, was to help give support to the Naira and stabilize the Foreign Exchange market.

The curious thing about this transaction is that up till now, the Federal Government continues to keep mum about it, and the only information available to the public on the mega deal is coming only through unofficial sources from the NNPC.

The deal is supposed to be a crude-for-cash loan arranged by the African Export-Import Bank.

According to information available, a Special Purpose Vehicle called “Project Gazelle Funding Limited” is driving the deal, and it was incorporated in the Bahamas.

The SPV is the borrower while the NNPC is the sponsor, with an agreement to pay with crude oil to the SPV in order to liquidate the loan at an interest rate that is a little over 12 per cent.

What is even more confounding about this deal is why the Federal Government would register a company in the Bahamas, knowing full well the recent scandal of the Paradise Papers that involved that country.

Curiously also, Nigeria’s current Barrels Produced Daily (BPD) is 1.38 million, and according to the Project Gazelle deal, Nigeria is to supply 90,000 Barrels of its daily production, starting from 2024 till it is up to 164.25 million barrels for the repayment of the loan.

Now, this is where the details get disturbing because Nigeria’s benchmark for the sale of crude per barrel in 2024 is $77.96. A simple multiplication of that figure by 164.25 will give us a whooping $12bn.

It is on this note that we are calling on the Federal Government to speak up on this shady deal.

It is inconceivable that the Federal Government will lead the country to take a loan of $3.3b with an interest rate that is not more than 12 per cent, but with estimated repayment amounting to $12bn.

That is a humongous differential of about $7b between what is in the details of the deal on paper and what indeed is the reality.

There are questions to be answered on the integrity of this deal, and we earnestly request the Federal Government to talk directly on these cloudy details behind the deal.

We therefore demand, on behalf of the ordinary people of Nigeria, that the Federal Government provides answers to the following questions.

1. Has the Federal Government accessed the loan?

2. Is the loan in the government’s borrowing plan as approved by the National Assembly?

3. Who are the parties to the loan, and what specific roles are they expected to play?

4. What are the conditions to the loan, including tenor, repayment terms, the collateral, and the interest rate?

5. And, lastly, why register an SPV in the Bahamas knowing the recent scandal of the country’s notoriety for warehousing unclean assets?

Signed:

Atiku Abubakar

Vice President of Nigeria, 1999-2007

25th January, 2024.

The Naira reached an unprecedented low yesterday of N1,420 marking a 4.03 per cent or N55 decline compared to Wednesday’s closing rate of N1,365 at the parallel market.

Also, the official Investors and Exporters (I&E) window experienced a decrease, concluding at N900.96 yesterday as opposed to N882.24, indicating a 2.12 per cent decline or a N18.72 weakening.

However, the daily turnover witnessed a notable 103.44 per cent surge in a single day. On Wednesday, the turnover was $56.60 million, while yesterday’s turnover reached $115.19 million.

Furthermore, the highest spot rate recorded yesterday was N1,399 compared to N1,313 recorded the previous day. Also, the lowest spot rate recorded yesterday was n789 compared to N700 recorded the previous day.

Our correspondent spoke with a parallel market operator who said there has been an increase in demand. Abdullahi said: “It looks like those people who speculate have started again because we have been getting calls of people buying in thousands causing scarcity which has made the prices go up.”

Thisday

Transmission Company of Nigeria (TCN) says the decrease in power transmission to electricity distribution companies was due to constraints experienced by thermal generating companies.

In a statement yesterday, TCN’s General Manager, Public Affairs,  Ndidi Mbah, said it is, however, working with relevant stakeholders in the power sector to keep the grid intact despite the current low power generated into the system.

It stated that the decrease has “impacted the quantum of bulk power available on the transmission grid for onward transmission to the distribution load centres nationwide.”

“TCN is doing everything possible in collaboration with stakeholders in the power sector to ensure that it continues to keep the grid intact despite the current low power generated into the system.

“Consequent upon the current load on the grid, load distributed to the distribution load centres has also reduced, as TCN can only transmit what is generated,” he stated.

TCN is wholly owned by the federal government.

Daily Trust/NewsScroll

At least 30 people have been killed and several others injured in Nigeria's central Plateau state in a series of attacks around Mangu town, despite a curfew imposed by the state government, a community spokesperson said.

Farmer-herder attacks and communal conflicts are rife in central Nigeria, an ethnically and religiously diverse hinterland known as the 'Middle Belt' where a circle of violence has claimed hundreds of lives in recent years.

The latest violence on Tuesday and Wednesday came after a Christmas Day attack in the area which left at least 140 people dead. A dusk-to-dawn curfew was imposed on Jan. 23.

The attackers targeted several villages including Kwahaslalek, Kinat and Mairana, located on the borders of Mangu and Barkin Ladi local government areas, said Joseph Gwankat, head of the community group Mwaghavul Development Association (MDA).

"The victims had sought refuge in the house of a community leader after earlier unrest in Mangu town. The attackers surrounded the house and killed those inside," Gwankat told Reuters by phone.

Survivors reported that the gunmen indiscriminately shot at people, including women and children, and set fire to houses and property.

In a subsequent statement, the MDA blamed the attack on herders, and questioned why troops deployed by the federal government to the area since the Christmas attacks didn't intervene to stop the violence.

Nigeria defence spokesperson Tukur Gusau said the military remains neutral following allegations of partisanship in the conflict, adding that troops responded professionally and by the rules of engagement.

"They have successfully arrested criminals involved in looting and burning of properties, as well as recovered weapons," Gusau said in a statement on Thursday.

The latest attacks come amid a surge in violence in the Plateau, which has seen repeated clashes between nomadic herders and local farming communities.

Plateau governor Caleb Mutfwang condemned the attacks and called for calm as his government "is taking proactive measures to halt further destruction of lives and property," his office said on Thursday.

Reuters

Israel vows to fight Hamas all the way to Gaza's southern border. That's fueling tension with Egypt

Israel faces a growing risk of damaging its peace with neighboring Egypt as its military pushes the offensive against Hamas further south in the Gaza Strip. Already, the two sides are in a dispute over a narrow strip of land between Egypt and Gaza.

Israeli leaders say that to complete their destruction of Hamas, they must eventually widen their offensive to Gaza’s southernmost town, Rafah, and take control of the Philadelphi Corridor, a tiny buffer zone on the border with Egypt that is demilitarized under the two countries’ 1979 peace accord.

In a news conference last week, Israeli Prime Minister Benjamin Netanyahu said Hamas continues to smuggle weapons under the border – a claim Egypt vehemently denies — and that the war cannot end “until we close this breach,” referring to the corridor.

That brought a sharp warning from Egypt that deploying Israeli troops in the zone, known in Egypt as the Salaheddin Corridor, will violate the peace deal.

“Any Israeli move in this direction will lead to a serious threat to Egyptian-Israeli relations,” Diaa Rashwan, head of Egypt’s State Information Service, said Monday.

EGYPT’S CONCERNS

Egypt fears that an Israeli attack on Rafah will push a massive wave of Palestinians fleeing across the border into its Sinai Peninsula.

More than 1 million Palestinians – nearly half of Gaza’s population of 2.3 million — are crowded into Rafah and its surroundings on the border, most driven there after fleeing Israeli bombardment and ground offensives elsewhere in Gaza.

If Israeli troops assault Rafah, they have nowhere to flee. Palestinians have broken through before: In 2008, early in the blockade imposed on Gaza by Israel and Egypt after the Hamas takeover, Hamas blew open the border wall. Thousands of people stormed into Egypt.

Egypt told the Israelis that before any ground assault on Rafah, Israel must let Palestinians return to northern Gaza, a senior Egyptian military official involved in coordination between the two countries told The Associated Press. He spoke on condition of anonymity to talk about the internal discussions.

Israel says it has largely driven Hamas out of northern Gaza but is likely to resist allowing Palestinians back in the near term. Israel’s bombardment and ground assault have reduced much of the north to rubble, leaving many without homes.

ISRAEL’S DILEMMA

The dispute puts Israel in a bind. If it stops its offensive without taking Rafah, it falls short on its top war goal of crushing Hamas. If its military pushes to the border, it risks undermining its peace deal with Egypt — a foundation of stability in the Mideast for decades — and upsetting its closest ally, the United States.

Israel and the U.S. are already divided over Gaza’s post-war future. The Israeli military is working to create an informal buffer zone about a kilometer (half a mile) wide inside Gaza along the border with Israel to prevent militants from attacking nearby communities. The U.S. says it opposes any attempt by Israel to shrink Gaza’s territory.

Israel vows to expunge the militants from the entire Gaza Strip and has done so by a strategy of systematic destruction, at a huge cost in civilian lives. Starting in north Gaza, it leveled large swaths of the urban landscape, saying it was eliminating Hamas tunnels and infrastructure while battling militants. It is working its way down the territory, doing the same in central Gaza and the southern city of Khan Younis.

Netanyahu has said Israel intends to keep open-ended security control over Gaza to ensure Hamas cannot repeat its Oct. 7 attacks that triggered Israel’s assault. He has been vague on what form that would take but said ensuring control over the Philadelphi Corridor is crucial.

“There are a few options on how we can close it, we are checking all of them, and we haven’t made a decision, except for one thing: It must be closed,” he said.

Egypt warned Israel and the U.S. that any military operations in the zone “could tear apart our peace,” a second Egyptian official said. “We will not tolerate such a move.” The official spoke on condition of anonymity because he was not authorized to talk to the press.

IMPORTANCE OF THE PHILADELPHI CORRIDOR

The corridor is a narrow strip – about 100 meters (yards) wide in parts – running the 14-kilometer (8.6-mile) length of the Gaza side of the border with Egypt. It includes the Rafah crossing into Egypt, Gaza’s sole outlet not controlled by Israel.

The corridor is part of a larger demilitarized zone along both sides of the entire Israel-Egypt border. Under the peace accord, each side is allowed to deploy only a tiny number of troops or border guards in the zone. At the time of the accord, Israeli troops controlled Gaza, until Israel withdrew its forces and settlers in 2005.

Hamas has had free rein of the border since its 2007 takeover.

Smuggling tunnels were dug under the Gaza-Egypt border to get around the Israeli-Egyptian blockade. Some of the tunnels were massive, large enough for vehicles. Hamas brought in weapons and supplies, and Gaza residents smuggled in commercial goods, from livestock to construction materials.

That changed over the past decade, as Egypt battled Islamic militants in the Sinai. The Egyptian military cracked down on the tunnels and destroyed hundreds of them, saying they were being used to funnel weapons into the Sinai. It bolstered its border wall above and below ground and cleared the population from a 5-kilometer-deep (3-mile) area adjacent to Gaza where only military and police forces are allowed.

During the fight against Sinai militants, Egypt negotiated with Israel and the U.S. to allow the deployment of its military in Zone C, as the demilitarized zone is known on its side of the border.

DEVELOPMENTS DURING THE WAR

In mid-December, Israel made an official request to Egypt to deploy its forces in the Philadelphi corridor, the Egyptian military official said. Egypt rejected the request. Egypt’s main fear is that any ground operation in the area would result in thousands of Palestinians storming into Sinai, he said.

Since the war began, Egypt has pushed back hard against calls that it take in a mass exodus of Palestinians. It fears Israel won’t allow them to return to Gaza and says it doesn’t want to abet ethnic cleansing. It also warned that militants from Gaza could enter the Sinai with those fleeing, bringing the potential for cross-border exchanges with Israel that could wreck the peace accord.

Israel contends it must have control over the border to prevent weapons smuggling to Hamas.

Rashwan, of Egypt’s State Information Service, called Israeli claims of continued smuggling “lies” aimed at justifying a takeover of the corridor. After destroying 1,500 tunnels, Egypt has “complete control” over the border, he said.

Kobi Michael, senior researcher with Israeli think tanks Institute for National Security Studies and the Misgav Institute, said the quantity of Hamas weapons found during the offensive shows smuggling continues and Israel must have power to monitor the border.

“The only way such quantities of weapons could have reached the Gaza Strip are via the Philadelphi Corridor,” he said.

But Alon Ben-David, military affairs correspondent for Israel’s Channel 13 TV, said 90% of the weapons in Gaza were produced in Gaza and that Egypt’s crackdown largely shut down smuggling.

“The tunnels were really taken care of comprehensively by the Egyptians,” he said.

AP

RUSSIAN PERSPECTIVE

Kiev ‘deliberately’ sabotaged prisoner swap – Moscow

Ukrainian troops have shot down a Russian military plane carrying Ukrainian soldiers in order to derail an upcoming prisoner swap, Moscow’s envoy told the UN Security Council on Thursday.

The Il-76 cargo aircraft crashed in Russia’s border region of Belgorod on Wednesday morning, killing everyone on board. According to the Russian Defense Ministry, the plane was transporting 65 Ukrainian POWs slated for exchange that was to take place later that day.

“All currently available data points to a deliberate, premeditated crime,” said Dmitry Polyansky, Russia’s deputy representative to the UN. “The Ukrainian leadership was well aware about the route and means by which [the Ukrainian] soldiers would have been transported to the agreed exchange point.”

“It was not the first such operation. However, for some inexplicable reason, the regime in Kiev had decided this time to sabotage [the swap] in the most barbaric way,” the diplomat said. 

According to Polyansky, the aircraft was destroyed by a surface-to-air missile fired from the village of Liptsy in the Kharkov region of eastern Ukraine. Preliminary investigation found that Ukraine used either the US-made Patriot missiles or the German-made IRIS-T, he added.

“If this is confirmed, the Western countries that supplied [the missile] will be directly complicit in this crime, just as they are complicit in Ukraine’s shelling of peaceful neighborhoods of Russian cities using Western weapons,” Polyansky told the council.

Kiev confirmed that a prisoner swap was scheduled to take place the same day the plane was downed, while the Ukrainian Defense Ministry said that it considers all Russian military aircraft legitimate targets. In his video address on Wednesday night, President Vladimir Zelensky called for an international probe into the incident. He did not say who was responsible for downing the Il-76, however.

Addressing the Security Council, Ukraine’s deputy envoy Kristina Gayovishin stopped short of directly blaming Russia for shooting down the plane carrying the POWs. At the same time, she argued that “Russia bears full responsibility for all atrocities, deaths and destruction caused by the war.”

Gayovishin added that Ukrainian troops will continue to target Il-76s and other Russian military planes, including those operating in the “Belgorod-Kharkov direction.”

WESTERN PERSPECTIVE

Ukrainian drones hit Rosneft refinery in Russia - source

Ukrainian drones attacked a Rosneft-owned oil refinery in southern Russia in the latest such strike on Russian energy infrastructure, a Ukrainian source said on Thursday.

Local officials in Russia said there was a fire overnight at the export-oriented unit in the town of Tuapse, but it was extinguished.

"The vacuum unit was on fire. According to preliminary information, there were neither casualties nor injured," Sergei Boiko, the head of Tuapse district, said on Telegram.

Rosneft, Russia's largest oil producer, has not commented.

The Ukrainian source said the SBU security service hit the refinery with drones and would continue attacking facilities providing fuel for Russia's nearly two-year invasion.

"The SBU strikes deep into the Russian Federation and continues attacks on facilities which are not only important for the Russian economy, but also provide fuel for the enemy troops," the source told Reuters.

Unofficial Telegram channels showed pictures of the blaze and also said drones had been responsible.

The strike would be at least the fourth on a major Russian energy infrastructure target over the past week, including an attack on a Baltic Sea fuel export terminal and processing complex at the port of Ust-Luga, which ships oil products.

Ukraine - which tranships natural gas for Kremlin-controlled Gazprom to Europe - appears to be stepping up attacks on major Russian oil production and export facilities.

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The attack will heighten concerns over global energy supplies. Oil prices rose on Thursday after a fresh attack by Houthi forces on ships off Yemen's coast.

The Tuapse plant's annual capacity is 12 million metric tons (240,000 barrels per day). It produces naphtha, fuel oil, vacuum gasoil and high-sulphur diesel, and supplies fuel mainly to Turkey, China, Malaysia and Singapore.

In 2023, the plant processed 9.378 million tons of crude oil, producing 3.306 million tons of gasoil and 3.123 million tons of fuel oil.

RT/Reuters

The report was treated like a footnote in the main press, but social media and online news platforms gave it a wider play. It’s the story of the launch of a nomadic vigilante service by Miyetti Allah, a group of herders turned political pressure group, comprising mostly Fulani.

The national president, Bello Bodejo, said in Lafia, Nasarawa State, where the launch took place, that the vigilante service, which had already recruited 1,144 Fulani youths, would assist security agencies in the state to combat criminal activities.

Four years ago, the Nnamdi Kanu-led separatist group, IPOB, made similar doubtful claims when the group set up the Eastern Security Network (ESN),for the South-east states. But federal security agencies crushed it. Yet, in a move that seemed to suggest that one vigilante group is greater than the other, the Nasarawa State Police Commissioner was a special guest at the Miyetti Allah vigilante service launch last week.

There was a report on Wednesday that Bodejo had been arrested by the DSS, but the DSS has since denied. While no one is sure of the whereabouts of Bodejo, he appears to have launched a vigilante service that, regardless of the pretence of confusion surrounding it, bears the mark of official approval.

It would be a mistake, however, to think that this once mostly feared and despised association of herdsmen and the police are in bed after only one evening of flirting. Of course, Miyetti Allah may have been motivated more by group self-interest, relevance and survival. But the dalliance with the police, the indifference of the main press, and the muted public response, are not an accident.

Epidemic of desperation

They are a reflection of the despair and desperation over the growing insecurity in the country, especially its latest franchise in form of widespread kidnappings, even in places once thought to be safe havens.

As a result of multiple internal security challenges from banditry and insurgencies in the North-east, North-west and North-central, the unrest and violence by separatist groups in the South-east, not to mention pipeline vandalism in the South-south, the police have almost been reduced to Boys Scouts, while the military is doing more for less.

A recent report by The Economist, citing ACLED, a global monitor of conflict, said more than 3,600 people were kidnapped in 2023, with the sharpest rise in May – the most ever – while almost about 9,000 Nigerians were killed in conflict last year.

In a horror story that spooked memories of the Chibok girls, the family of Mansoor Al-Kadriyar was attacked in their home in Bwari, Abuja on January 2, and six of the girls were abducted. The eldest was killed and the other five released after 19 days in captivity and N55million reportedly paid in ransom.

It’s in light of this widespread misery and what appears to be a general state of helplessness that Miyetti Allah, a symbol of Fulani hegemony, launched its nomadic vigilante service in a region fraught with a variety of deadly clashes, the latest of which has been the murderous rampage of ethnic violence in Plateau State that has, so far, claimed nearly 200 lives in less than two months.

Ostrich game

Thanks to elite hypocrisy, after years of playing the ostrich, we are back where we started: a realisation that the current policing model is not working. With broken noses, bleeding hearts, and a variety of poor imitations, we’re dragging ourselves back to the very thing that we have always tried to run away from: state police. State police is not a silver bullet, of course. But in the last 25 years, we have seen improvisations that have barely dented the monster.

The Oodua People’s Congress (OPC), for example, founded by Fredrick Faseun and Gani Adams was a citizen vigilante-led attempt to curb insecurity in the South-west. It’s still active in many parts of the region. But former President Olusegun Obasanjo with those close to him who feared it was a South-west agenda towards state police, kept OPC in check, often deploying an iron fist.

In a watered-down attempt to devolve more policing powers from the centre, we’ve seen attempts by the Federal Government at so-called community policing end up with greater Federal control, with the notorious pay-as-you-go police protection being enjoyed by the rich, especially politicians, who can afford them. It was only when the farmer-herder clashes threatened to ruin some states in the South-west that governors in the region, led by late Rotimi Akeredolu, rallied to form Amotekun.

The South-east followed this lead with Ebubeagu, and a number of states in the North-west, especially, also set up their own vigilante services. In August 2022, then Benue State Governor, Samuel Ortom, launched the Community Volunteer Guard.

In spite of states drifting towards it, in spite of the ruling All Progressives Congress (APC) including state police in its manifesto, and in spite of President Bola Tinubu being one of the most notable champions of it, the idea is still something of anathema.

Constitutional Conference report

Ten years ago, state police was one of the most hotly debated issues at the Goodluck Jonathan-brokered National Conference, a conference whose report, unlike those of a number in the past, has proved quite durable.

A summary of the 2014 conference report presented at the Second Chris Ogunbanjo Lecture Series in 2017 by a member of the conference and Chairman Emeritus of PUNCH, Ajibola Ogunshola, said, “Any state that requires it, can establish a State Police for that state, which should operate in accordance with the provisions of the law setting it up, to be passed by the State House of Assembly.

“Its powers or functions will be determined by such legislation and should not be in conflict with the duties and powers of the Federal Police.”

The conference also made suggestions about changes in nomenclature and structure of the police and also in the relevant sections of the constitution. Of course, nothing significant has been done since, which is not a surprise. Former President Muhammadu Buhari whose lot it was to get it off the ground, told me during an interview nearly two years after he took office that he had not read the report and was not interested.

If Buhari preferred treading the beaten path, Tinubu cannot pretend that we can continue the same way, or that he is unfamiliar with the merits of state police.

There’s a familiar trope against it, and I have heard it over and over again: that state police in the hands of the states would be used by governors against their opponents. That’s a genuine concern, especially in a country where governors behave as if the states were their fiefdoms. But isn’t it warped to argue that it’s OK for the Federal Government to use the Federal police against its own opponents in the centre and in the states while we’re all held hostage by the fear that the states would abuse it?

Bull by the horns

In the case of Miyetti Allah’s nomadic service, which potentially is worse for regulation than Amotekun which is at least under the control of the states, whose weapon would the vigilante be? The Federal Government’s, the states’ or the battering ram of an unrepentant ethnic militia called Miyetti Allah?

Ethnic militias are festering because the elite, especially members of the National Assembly, that are supposed to take the bull by the horns have refused to do what they should do to emplace structure and regulation by amending the constitution to allow the states play a more active role in policing.

Tinubu cannot afford to allow the drift to continue. He cannot manage the country’s security the same way that Buhari did for eight years and expect a different result.

** Ishiekwene is Editor-In-Chief of LEADERSHIP

When gearing up for the new year and plotting your business course and role in it, a smart starting point is to pinpoint what you're not keen on pursuing. Your business success hinges on aligning goals with your vision and general expertise.

Enter your "What I Don't Want" assessment – a pivotal tool steering your business toward its intended outcomes.

Here are seven crucial questions to consider.

1. What new business pursuits don't sync with my skills and sector?

Consider the alignment between your current skills and the sector you're in. For instance, if your strengths lie in collaborative work and your expertise revolves around digital platforms, venturing into a business that heavily relies on solitary work or extensive face-to-face interactions might not harness your strengths effectively or correspond to your macro-business goals. Identifying these mismatches upfront can save time and resources.

2. Which business roles am I not inclined to take on?

Pinpoint the specific roles within your business domain that don't resonate with you. Whether it's administrative duties, sales responsibilities or managerial tasks, recognizing roles that don't align with your strengths or interests can help you delegate effectively or seek alternative solutions to fill those gaps.

3. What work-life conditions are non-starters for me?

Assess the work-life conditions that are hard and fast for you. Determine if you're comfortable with long hours, constant availability or work that may drain your energy levels. Understanding your limits in these areas can help you set boundaries and create a sustainable work-life balance.

4. What am I not willing to sacrifice?

While sacrifices are often part of running a business, it's crucial to identify what you're unwilling to sacrifice.

Whether it's family time, weekends, or extensive travel, being clear about your boundaries upfront can guide your decision-making and prevent potential conflicts between personal and professional commitments.

5. In what type of company culture would my stakeholders and I struggle to thrive?

Consider the type of company culture where you and your stakeholders would struggle to thrive.

Evaluate factors such as competitiveness, management styles, innovation levels and work pace to determine the ideal environment that aligns with your values and operational style.

6. What projects don't spark my interest?

Every small business owner wears several hats. From routine administrative tasks to complex cross-disciplinary projects, recognizing areas that don't excite you can help you delegate or strategize to ensure these aspects are handled effectively without draining your enthusiasm.

7. Where do I draw the line in resource allocation?

Assess the investment of time, finances, and energy. Determine the threshold where investing in new ventures or projects might outweigh the potential returns or divert attention from core business objectives.

This evaluation helps in prioritizing and focusing resources where they'll yield the most significant impact.

By answering these questions, you'll sharpen your focus, align your goals with your aspirations, and steer your business toward a productive year.

Inc

Governor Babajide Sanwo-Olu of Lagos returned to Nigeria Wednesday morning after spending days partying in the Caribbean Island of Grenada in commemoration of the 50th birthday anniversary of Abuja-based businesswoman and socialite, Aisha Achimugu.

Sanwo-Olu flew in a private aircraft to the Carribean Island, and took residency in one of the most expensive resorts in the world.

Many officials of his government did not know his whereabouts for days, with some saying he was attending an official engagement in London and others simply telling us he was travelling abroad.

But PREMIUM TIMES can report that while the Mandilas building burned in Lagos on 21 January and many Lagosians remained overburdened by poverty and insecurity, their governor was reveling at a party at Calivigny Island, an 80-acre private and exquisite location which costs about $132,000 per night.

Those familiar with the event said organisers rented the Island for seven days, amounting to about $924,000 in total, in addition to other charges.

Sanwo-Olu and other participants alternated between Calivigny Island and Silversand Grenada, an exotic five-year-old seven-star luxury resort located in Grand Anse beach, where some events of the posh celebration were held.

Those familiar with the governor’s itinerary said he left Nigeria on Wednesday, 17 January for Achimugu’s birthday carnival which began with “a scrumptious welcome breakfast” and “a spectacular dinner with an explosive finish” that day. Other guests had arrived in Grenada on 16 January.

But Sanwo-Olu was only able to join the party on 18 January, the third day of the festivity. He remained there till 23 January, leaving his state without his leadership for days.

It remains unclear as of the time of this report why the governor left his duty post in Lagos, flew 7,585 kilometres to Grenada for a birthday party, at a time the people who elected him to office were grappling with severe and unprecedented economic hardship. Another yet unresolved question is how the governor funded his trip and stay in that Caribbean Island.

Sanwo-Olu did not answer calls made to him by one of our reporters seeking his comments for this report. He also did not respond to a message sent to him on the matter. The known telephone number of the Lagos State Commissioner for Information and Strategy, Gbenga Omotosho, rang out the multiple times he was called.

SANWO-OLU AND THE SHUTTING DOWN OF GRENADA

Born 22 January, 1974, Aisha Achimugu, founder and managing director of Abuja-based Felak Concept Group, turned 50 on 22 January. The relationship between the socialite and Sanwo-Olu remained unclear but the governor was at the party to honour her.

Some of those who attended said it was one of the most opulent parties they have ever witnessed or heard about. The celebrant rented the Calivigny Island for one week and reserved rooms for her guests at Silversand Grenada. Several guests were also said to have been flown from Nigeria to the party location by chartered jets.

During the week-long party, Achimugu, a widow who lost her husband to Coronavirus in 2020, is said to have changed clothes at least 30 times, with each dress said to cost thousands of dollars. Those are in addition to the high-end clothes she used for a photoshoot with a celebrity photographer ahead of her event.

For most of the time, she was decked in very expensive diamond jewelry, wore designer shoes and carried Hermes crocodile-leather handbags, each said to cost between $50,000 and $80,000. One of the numerous parties took place aboard the Silver Angel, a Yacht sailing on the Caribbean sea under the flag of the United Kingdom.

In addition, a number of local and international A-list musicians and entertainers flew in to perform at the various events. Those who performed include Kenny G (American saxophonist and composer), Waje, Flavour, Adekunle Gold, Asake and Mr Killa (a Grenada musician).

Hypemen, disc jockeys, make-up artists, hair stylists and masters of ceremonies were also flown to the Island and were all paid in thousands of dollars for their services, those close to the organisers said.

David Reeves, who was the official disc jockey for the event, was seen at the end of the party displaying bundles of crisp U.S. Dollars (estimated to be up to $50,000) and saying excitedly, “who wan help you no go stress you”. Some of the musicians were sprayed with dollars as they performed.

One attendee reported that at the birthday, “exotic wines, expensive but delicious food, crisp dollars and obscene opulence were on display”. The source estimated the event to have cost the organisers billions of naira to organise.

“We basically shut down Grenada and the citizens of that country knew that Nigerians were in town, they knew the eagles had landed,” the source said, asking not to be named to avoid being ostracised by friends.

“But what even surprised me the most was seeing Sanwo-Olu at the event. Is he not sensitive to the mood of the Nigerian nation? What was he doing there as a public figure?”

PT

President Bola Tinubu has departed Abuja for Paris, France, on a private visit.

Ajuri Ngelale, Special Adviser to the President on Media & Publicity, announced this in a statement on Wednesday.

Ngelale, who did not go into details said the president will return to the country in the first week of February, 2024.

Daily Trust