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Tinubu Holds Productive Meetings with Three Key Economic Partners

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In the hustle and bustle of off-camera activity in the siderooms of the G-20 Summit, President Bola Ahmed Tinubu was unwilling to stay away from the action.

The President met with the Heads of State of three nations which have been identified as key partners in his economic development diplomacy drive for local investment and wealth creation.

Special Adviser to the President,Chief Ajuri Ngelale stated this in a statement on Sunday.

For the Leader of Africa’s largest economy, a meeting with the Chief Executive Officer of Europe’s largest economy, Germany, presented a unique opportunity to expand ties of prosperity for the people of Nigeria, but with a pragmatic approach toward ensuring the effective execution of agreements struck.

“It is not, for us, only a matter of designing the financial architecture for an expanded economic partnership. It is also about the practicality of aligning the perspectives of your large-scale manufacturers, such as Volkswagen and others, with the reality of the new incentives my government is putting in place for them to come and prosper across multiple value chains and sectors inside of our country,” the President implored.

Apparently intrigued by the specific economic focus of the President’s proposal, German Chancellor, Olaf Scholz, responded by acknowledging the mutually-beneficial nature of an escalation in the scale of economic ties with Africa’s largest economy.

“Thank you for this important discussion, Mr. President. I can appreciate this opportunity to advance our economic relations. Your market is unique and our companies have history in Nigeria. We acknowledge the business friendly reforms you have put in place. I am happy to inform you of my desire to visit you in Nigeria in October, which will allow us to carry forward these initiatives,” the German leader confided.

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Following President Tinubu’s acceptance of the German Chancellor’s request to visit, the President proceeded to sit down with the Leader of Asia’s fourth largest economy, South Korea, during which, South Korean President, Yoon Suk Yeol, commended the President’s regional leadership in upholding democratic tenets and norms.

“I wish to commend your strong leadership, following the peaceful transfer of power to you from your predecessor and we see a stable country in West Africa that is growing in stature,” he said.

President Tinubu responded by swiftly steering the discussion toward his economic focus as he immediately advanced proposals for an enhanced South Korean presence in Nigeria’s local manufacturing sector.

“We will leave nothing hanging. We will finalise what we agree to and we will execute. We will work point by point with you to secure rapidly implementable MoUs across sectors of partnership that will involve the active presence of your biggest firms, not just in terms of Nigerian consumption, but in local Nigerian production, from telecommunications to technology, and oil & gas,” the Nigerian leader affirmed.

The South Korean President responded in agreement, noting specifically that Nigeria’s education, technology and energy sectors are of utmost interest to South Korean investors and that he will mobilize his business community to take advantage of new Nigerian incentives for local industry.

Offering an invitation to visit Nigeria, President Bola Tinubu would conclude formal discussions at the G-20 with the Asian giant and host nation, which had invited Nigeria to the G-20 Summit, as he met with Indian Prime Minister, Narendra Modi.

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“There are many lessons our nation can learn from the rapid progress that India has made under your leadership. We see fantastic opportunity between our nations across sectors, such as agricultural development, but specifically, there is more we can do to advance ICT innovation and the emergence of Blue-Chip FinTech growth in Africa. Nigeria has the local players who can drive it from the front,” the Nigerian leader confidently asserted.

The hosting Head of State responded in the affirmative to the economic partnership proposal, even as he expressed gratitude for the Nigerian leader’s invitation to visit.

“Our teams must now stay close in touch to detail our priority areas of upscaled cooperation with respect to agriculture, defense industries capacity building, and even FinTech growth. I see your commitment. We believe there are immense prospects for Nigeria in the UPI (Unified Payments Interface) and we will ensure that we come together and make progress on these fronts very rapidly,” the Indian leader concluded.

During the G-20 sideline meetings, President Tinubu also had substantive, informal exchanges of views with U.S. President Joe R. Biden; European Commission President, Ursula von der Leyen; and World Bank President, Ajay Banga, amongst many others.

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Sterling Bank Eliminates Transfer Fees, Challenges Industry Standards

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Sterling Bank has made a groundbreaking move by eliminating transfer charges on local transactions, aiming to create a more equitable banking experience for Nigerians. The question now arises: will other financial institutions follow this lead?

On April 1, Sterling Bank announced the removal of transfer fees for all local digital transactions, positioning itself as the first major bank in Nigeria to implement such a policy. Initially, the announcement faced skepticism, with many believing it to be an April Fools’ Day joke. However, Sterling has since reaffirmed the policy’s legitimacy and immediate implementation, signaling a significant evolution in the industry’s customer service approach.

Obinna Ukachukwu, the Growth Executive overseeing the Consumer and Business Banking Directorate, stated, “We believe that accessing your own funds should not incur a penalty. This decision transcends financial implications; it reflects our core values.”

With this new policy, Sterling customers can now make free transfers for all local transactions via the bank’s mobile app. This initiative is anticipated to yield considerable savings for individuals and small business owners who frequently engage in transfers.

“We may not be the largest bank in Nigeria, but we are certainly the most audacious,” Ukachukwu declared. “Sterling Bank is committed to the future of Nigeria, and we are backing our fellow citizens with more than just words.”

Sterling Bank has a history of prioritizing customer welfare, having previously offered financial assistance to healthcare workers during the COVID-19 pandemic. This latest initiative has garnered widespread public support, igniting conversations on social media and prompting calls for other banks to adopt similar practices.

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“We take pride in leading this transformative change,” Ukachukwu concluded. “We hope to inspire others to rethink what customers truly require from their banks, not only in terms of services but also in values.”

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Breaking News: Edo Tribunal Rejects Action Alliance’s Challenge Against Governor Okpebholo

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On Wednesday, the Edo State Governorship Election Petition Tribunal, convened in Abuja, dismissed the Action Alliance’s (AA) petition aimed at overturning the election of Governor Monday Okpebholo.

The tribunal, led by Justice Wilfred Kpochi and comprising a three-member panel, determined that the petition, filed by AA and its National Chairman, Adekunle Rufai Omoaje, was without merit.

The tribunal concluded that the issues raised in the petition were pre-election matters, falling outside its jurisdiction to adjudicate.

The petitioners claimed that the Independent National Electoral Commission (INEC) had excluded their legitimate candidate from the governorship election held on September 21, 2024. They argued that, in contradiction to several court rulings, INEC recognized a candidate who had not been validly nominated by the party.

Furthermore, the petitioners contended that INEC’s failure to publish the name of their party’s rightful candidate constituted a significant violation of Section 134(1)(b) of the Electoral Act.

In addition to these claims, they asserted that Governor Okpebholo, representing the All Progressives Congress (APC), did not receive the majority of legitimate votes and that the election was tainted by corrupt practices.

As a result, they sought the annulment of the election; however, the tribunal panel denied their request on Wednesday.

The panel upheld all preliminary objections raised against the petition. The respondents, including INEC and Governor Okpebholo, argued that the National Chairman of the AA lacked the standing to file the action, as he did not participate in the gubernatorial election.

They also asserted that the petition was barred by statute, as it involved pre-election issues that exceeded the tribunal’s jurisdiction.

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It is noteworthy that AA’s candidate, Mr. Tom Iseghhi-Okojie, withdrew from the race in favor of Governor Okpebholo just days before the election.

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All set for Niger Delta Sports Festival in Akwa Ibom – Umo

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Akwa-Ibom State Governor, Umo Eno of Akwa Ibom has commended the management of the Niger Delta Development Commission (NDDC) for investing in sports for the discovery of talents for the region and the country at large.

The governor gave the commendation at the Monthly State Covenant Service held at the Banquet Hall, Government House, Uyo, as arrangements have been concluded for official opening ceremony of the Niger Delta Sports Festival at the Godswill Akpabio International Stadium in Uyo.

Eno, therefore, implored citizens and residents in the state to be fully involved in the festival.

He stressed the need for adequate maintenance of facilities recently revamped by the interventionist agency and assured successful hosting of the sports festival.

He promised to provide necessary support to ensure safe stay of all participants and tasked the organisers to leverage the peaceful ambiance of the state and make the competition a memorable one.

According to the organisers, President Bola Ahmed Tinubu is expected in Uyo today (Wednesday) to declare the festival open, with no fewer than 3,000 athletes from the nine states of the Niger Delta to compete for laurels in 17 sporting events.

The competition will be hosted at six venues, including the Godswill Akpabio international stadium and West Itam Sports Centre, while the closing ceremony is billed for April 9.

The News Agency of Nigeria (NAN) reports that contingents from the nine Niger Delta Development states had arrived Uyo for the festival. (NAN)

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