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N2.5bn Judgment Debt: ABU 110 Former Staff Unsettle

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In the realm of unsettled debts, Ahmadu Bello University (ABU), Zaria, grapples with a deadlock in the out-of-court settlement over a substantial N2.5 billion judgment debt with its 110 disengaged staff.

Despite the university’s push for resolution, the meeting’s inconclusiveness adds a layer of complexity to the impending decision, scheduled for reporting back to the court on Dec. 11.

The meeting, instigated by ABU Zaria, aimed to avert the execution of a N2 billion-plus judgment against the university.

However, the nuances of data discrepancies presented a hurdle, with the pension details sent by PTAD to ABU causing contention among the judgment creditors.

The lack of access to the data by the creditors adds a layer of complexity to the negotiation.

Detailing the intricacies, Mr Isaac Enabhule, Counsel to the Judgment Creditors, highlighted the divergence in data interpretation.

Some clients found themselves under PENCOM, while others fell under PTAD, prompting the need for clarity.

The inconclusive meeting necessitated a further gathering, promising resolution before Dec. 11.

Mr Daniel Bode, former Deputy Bursar of ABU and leader of the judgment creditors, shed light on the prelude to the court judgment.

Despite three different white papers endorsing their reinstatement, the implementation lagged, leading to the 2015 judgment.

Bode voiced concerns about intentional delays in execution, emphasizing the aging status of many creditors.

Malam Sadiq Momoh-Jimoh, leader of the ABU team, expressed ABU’s commitment to an out-of-court settlement.

The delay, he asserted, stemmed from PTAD’s prolonged data acquisition regarding the pension and gratuity concerns of the 110 creditors. Dr Abubakar Is’haq, part of ABU’s legal team, clarified that PTAD’s documents had been dispatched to the judgment creditors’ counsel, Mr Femi Adedeji, on Nov. 4.

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The legal saga began in 2012 when the appointments of 110 ABU staff were terminated in 1996. The court’s 2015 ruling mandated reinstatement and payment of entitlements, culminating in a N2.5 billion obligation.

Non-compliance led to a garnishee order in 2017, sparking a series of legal maneuvers by the judgment debtors.

The Court of Appeal’s dismissal on May 24, 2021, solidified the decision, leading to the NICN’s garnishee order in Jan. 27, compelling the CBN to pay the disengaged staff.

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LP Chairmanship Crisis: Abure Can Still Seek For Re-Election – Ogene

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Honourable Afam Ogene, the leader of the Labour Party caucus in the House of Representatives, has voiced concerns over the alleged interference by the ruling All Progressives Congress (APC), claiming it is backing Julius Abure to deepen divisions within the opposition.

Julius Abure, who has faced immense pressure over his contested position as National Chairman, now finds himself at the heart of a political storm. While the Supreme Court nullified the Court of Appeal’s earlier recognition of Abure, the resulting confusion has only widened the rift within the party.

Speaking during a televised interview on Wednesday, Honourable Afam Ogene made it clear that, despite being removed from office following the Supreme Court’s decision, Julius Abure still has the opportunity to contest again for the role of National Chairman provided he follows the appropriate electoral procedures.

“His removal doesn’t equate to an expulsion from the party,” Ogene remarked. “If he wishes to return as chairman, he is free to do so, but it must be done in line with the Labour Party’s constitutional framework beginning from the ward level up to the national.”

Ogene accused the ruling for strategically supporting Abure in order to sow discord within the Labour Party, a move he believes is calculated to destabilise the opposition ahead of future elections.

“The All Progressives Congress is not a neutral observer here. There’s strong evidence pointing to their involvement in this internal crisis, aimed at weakening our structure from within,” Ogene stated, without mincing words.

The key Labour Party figures, on Wednesday, including its 2023 presidential candidate Peter Obi and Abia State Governor Alex Otti, supported the formation of a caretaker committee. The committee, chaired by former Finance Minister Senator Nenadi Usman, is expected to take over the reins of the party and guide it through this challenging period.

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The formation of the committee was announced during the party’s National Executive Council (NEC) meeting held at the Transcorp Hilton Hotel in Abuja.

The high-profile gathering included prominent party stakeholders such as Obi’s running mate, Datti Baba-Ahmed, various senators, and Labour Party members of the House of Representatives.

Despite Abure’s faction still occupying the party’s national headquarters, Ogene assured that this would soon change. He confirmed that steps are already underway to reclaim the secretariat through legal and peaceful means, affirming the Labour Party’s commitment to due process.

“In a matter of days, the legitimate leadership will take control of the party’s secretariat. There’s no need for chaos—we’re acting within the law,” Ogene stated confidently.

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China begins new 84% tariffs on U.S. imports

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China officially commenced the implementation of its planned retaliatory tariffs on U.S. goods on Thursday, imposing an additional 84 per cent duty on imports from the U.S.

The move came after Washington escalated its trade pressure, with U.S. President Donald Trump announcing on Wednesday a new plan to raise tariffs on Chinese imports even further to 125 per cent.

Chinese officials have however rejected the U.S. approach, accusing Washington of blackmail and pledging to resist pressure in the ongoing trade dispute.

As tensions rise with the U.S, China is reaching out to other partners.

On Tuesday, Chinese Commerce Minister Wang Wentao had a phone call with EU Trade Commissioner Maroš Šefčovič to discuss issues including enhancing China-EU economic ties.

According to a Chinese statement, Wang criticised the U.S. tariff strategy as harmful to global trade and urged cooperation to uphold the rules-based multilateral system.

It added that China and the EU agreed to start talks on market access and improving the business environment for companies.

China has remained one of the EU’s most important trading partners.

In 2024, it was the bloc’s third-largest export destination and its top source of imports.

However, the EU continued to run a significant trade deficit with China, which last year stood at around 300 billion euros (329 billion dollars).

Meanwhile, tariffs for some other countries have been temporarily suspended.

So far, Beijing has not responded to the latest U.S. measures. (dpa/NAN)

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Japa Syndrome: Invest On The Youths Before It’s Too Late – Adesina

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In recent years, a significant trend has emerged in Nigeria and across the African continent the mass emigration of young professionals, commonly referred to as the ‘Japa’ phenomenon.

This surge in migration, largely driven by the pursuit of better opportunities abroad, has been described as a “huge loss” for both Nigeria and Africa at large.

Speaking in a televised interview, Dr Akinwumi Adesina, President of the African Development Bank (AfDB) highlighted the critical need for meaningful investment in Africa’s youth to transform what should be a demographic advantage into economic growth.

Africa boasts over 465 million young people between the ages of 15 and 35 a figure that should be a source of strength. According to Adesina, this youthful population represents a potential powerhouse for development if harnessed correctly. “Our youth bulge should be our greatest asset,” he stressed.

But without adequate investment in human capital development, education, and job creation, this population could become a burden rather than a benefit.

Instead of creating an environment that fosters innovation and entrepreneurship, many governments have defaulted to short-term empowerment schemes that lack substance. “Young people don’t need token gestures. They need real capital to bring their ideas to life,” Adesina emphasised.

The former Nigerian Minister of Agriculture was firm in his stance that African youth are not looking for handouts. What they truly need is access to funding, support structures, and confidence in their abilities. Many of these young individuals already possess the skills, ideas, and entrepreneurial spirit necessary to build thriving businesses. But without financial backing, these ideas remain dormant.

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“What is required is not a monthly stipend or a one-off grant,” he argued. “What they need is venture capital, support to scale, and a system willing to take risks on them.”

Traditional banking systems across Africa, Adesina noted, are simply not designed with young entrepreneurs in mind.

“The current financial model fails our youth,” said Adesina candidly. With limited access to credit, high interest rates, and a lack of tailored financial products, African youth often find themselves locked out of the very systems that should be supporting them. “We should not be surprised they’re leaving,” he continued. “We’ve not created the conditions for them to thrive here.”

The mass migration of talent the so-called ‘Japa’ trend represents a transfer of potential economic value from Africa to the developed world. “You’re turning your demographic dividend into someone else’s advantage,” Adesina warned.

The African Development Bank has taken strategic steps to address these challenges by launching the Youth Entrepreneurship Investment Bank, a bold initiative designed to bridge the financial gap for young innovators.

The bank recently approved $100 million to establish the Nigerian Youth Entrepreneurship Investment Bank, aiming to mobilise $2 billion in investment for more than 38,000 youth-led businesses across the continent. The goal is simple but ambitious: to transform Africa’s youth from job seekers into job creators.

This initiative underscores the AfDB’s commitment to long-term economic development through sustainable, youth-focused strategies. “If we don’t invest in them now,” Adesina cautioned, “who will pay the taxes in the future? Who will fuel economic growth?”

Africa cannot afford to neglect its youth. The continent must stop exporting its potential and start nurturing it. The loss of talent through migration not only weakens local economies but also undermines Africa’s ability to shape its future.

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“We must believe in our youth,” he insisted. “Their future doesn’t lie in Europe, America, or Asia. It lies here in Africa – but only if we create the right conditions.”

Adesina drew parallels with countries like China and India, whose massive populations have been harnessed for economic transformation. Africa, he believes, can follow suit, but only if it focuses on skills development, job creation, and social protection.

With rising global trade barriers and a shift toward inward consumption, Africa must start treating its own population as a key driver of GDP. “Young people with jobs and income will spend. That consumption fuels local businesses and strengthens the economy.”

While the ‘Japa’ trend continues to grow, there remains a window of opportunity. By reversing the brain drain and channelling resources into Africa’s burgeoning youth population, the continent can turn this exodus into a comeback story. It’s time to turn Africa’s youth bulge into a beacon of prosperity, not a missed opportunity

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