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Exchange rate: FG spends N3.8bn on 1,500 scholars studying abroad

The executive secretary of the Tertiary Education Trust Fund (TETFund), Sonny Echono, an architect, said a total of N3.8 billion had been expended on 1,500 Nigerian scholars abroad under its academic training programme as a bailout fund to cushion the effect of the current exchange rate of the naira.
Echono, who disclosed this during an oversight visit to the Fund by the House of Representatives Committee on Tertiary Education Trust Fund led by the chairman, Princess Miriam Onuoha on Thursday in Abuja, said various amounts of bailout were given based on the circumstance of the scholars.
“We have taken care of 1,500 scholars with a total of N3.8 billion expended. We identify a cut-off point for those who will be eligible for the scholarship,” Echono said.
He said the high exchange rate caused some challenges for TETFund-sponsored scholars as many of them requested extra funding, adding that the issue has also resulted in a drop in the number of beneficiaries of the Fund’s academic training programme in foreign institutions.
While saying that the remittances process for scholars in the past was not that good, Echono said many of the institutions came back to TETFund expressing concerns over the payment system.
He said the collection from education tax in 2020 was N257 billion, and by 2021, the Fund received a sharp decline in the tax collection of N185.5 billion and rose to N328.8 billion in 2022 and N725 billion in 2023 respectively.
On the issue of attracting foreign grants for cutting-edge research, Echono said that before now, Nigeria was not doing well, adding that through the efforts of TETFund the story has now changed as it moved from the 9th position to the 7th in Africa in terms of countries that attract the highest research grants on the continent.
In her remarks, the chairman of the committee, Rep Miriam Onuoha, said the visit was meant to see how the agency had performed in the 2021-2023 budgets, in line with the budgetary provision and to ensure that allocations are used judiciously.
She lauded Echono for how he meticulously executed projects and other interventions in line with the mandate of the TETFund.
News
Police arrest woman for alleged murder of 65-year-old man in Lagos

The Lagos State Police Command has arrested a woman in connection with the death of a 65-year-old man in the Oko-Oba, Abule-Egba area of Lagos, in what authorities are describing as a chilling case of murder.
Confirming the development on Sunday, the Command’s spokesperson, CSP Benjamin Hundeyin, detailed the disturbing circumstances surrounding the incident.
According to Hundeyin, the police were alerted on March 29 to the discovery of a man’s body in a service apartment located in Oko-Oba.
“On March 27, at around 5:20 p.m., an unidentified woman rented the apartment with the deceased,” Hundeyin explained.
“But just hours later, she mysteriously left the scene, taking with her the man’s car and valuables, and telling the housekeeper she would return shortly.”
A routine check the following day led to the discovery of the man’s lifeless body.
At the scene, investigators recovered an empty syringe, two cans of malt drink, and several bottles of water, raising suspicions of foul play.
The body was subsequently transferred to the Lagos State University Teaching Hospital, LASUTH, mortuary for autopsy.
Following an intensive manhunt, police apprehended the suspect on Saturday night around 9:30 p.m. in the Oko-Oba area.
“She confessed to poisoning the deceased by spiking his malt drink with a toxic substance, leading to his tragic death,” Hundeyin revealed.
Further investigations enabled authorities to establish the identity of the victim, who was initially classified as unknown.
The Commissioner of Police, CP Owohunwa Jimoh, has assured Lagos residents of the Command’s unwavering commitment to ensuring public safety and delivering justice.
“Our resolve remains firm, those who commit crimes against the community will be pursued and brought to justice,” Hundeyin emphasized.
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Breaking: Late gospel singer Osinachi’s husband sentenced to death by hanging

Justice Nwosu-Iheme of a FCT High Court Wuse Zone 2 in Abuja on Monday sentenced the husband of late gospel singer, Osinachi, Peter Nwachukwu, to death by hanging.
Nwachukwu was found guilty of culpable homicide resulting in the death of the deceased ( his wife) on April 8, 2022.
The judge held that the prosecution had proven the burden of proof placed on it by the law and subsequently found the defendant guilty.
Nwachukwu was arraigned on June 3, 2022 by the Office of Attorney-General of the Federation (OAGF), on behalf of the Federal Government, on a 23-count charge .
The charge was on culpable homicide punishable with death, criminal intimidation, cruelty to children, criminal intimidation of children, spousal battery, among others.
In the course of trial, the prosecution called 17 witnesses, including two children of the late Osinachi, who testified as fourth prosecution and fifth prosecution witnesses, PW4 and PW5 respectively.
The prosecution also tendered 25 documents as exhibits before the court.
The defendant testified for the defence and further called four other witnesses and tendered four exhibits in his defence.
Shortly before sentencing, the defendant, counsel , Reginald Nwali, in his allocutus pleaded with the court to be lenient in its judgment.
Similarly, the prosecution counsel, Mrs Aderonke Imala, urged the court to give force to the law as stipulated.
Justice Nwosu-Iheme subsequently sentenced Nwachukwu to death by hanging on Count 1, while he was sentenced to two years imprisonment each on Counts 2, 3, 8,9, 12, 13, and 18.
The court sentenced the defendant to six months imprisonment on Count 10, three years imrisonment in Count 11, while he was fined the sum of N500,000 and N200,000 respectively on Counts 6 and 7 respectively.
(NAN)
News
Weeks to 2nd anniversary, Niger deputy gov, plans to resign, move out personal effects

There are growing reports that Yakubu Garba, the Deputy Governor of Niger State, is on the brink of stepping down from his position, with sources indicating that he has already begun moving his personal belongings out of his official residence.
According to Daily Nigerian, unusual activity indicating a move by the deputy governor to resign was sparked by movements around his official residence over the weekend, suggesting preparations for his departure. Sources close to the deputy governor revealed that he has substantially moved his belongings to his private home, signaling that he could resign at any moment.
The governor and the Secretary to the State Government, SSG are not in the country, the camp of the governor has put pressure on staff in the SSG’s office not to acknowledge any letter of resignation should Garba go ahead to submit it.
As of now, he has moved most of his belongings out of the official residence. He is expected to resign soon,” a source told Daily Nigerian.
Despite these signs, it is unclear if Garba has changed his mind after a reported meeting with some traditional rulers who visited him on Sunday night in an attempt to persuade him to stay in office. Details of the discussions remain unclear, and it is unknown whether they had any impact on his decision.
Insiders suggest that the deputy governor’s decision to resign is driven by a growing rift with the state’s governor, Umaru Bago. According to sources, Garba has been repeatedly sidelined and disrespected within the administration, despite being elected on the same ticket as the governor.
The tension between Garba and Governor Bago intensified recently over the upcoming local government elections. Garba, who hails from Shiroro, had endorsed Babangida Kudodo as the preferred candidate for the APC in the area. However, the final list released by the party’s headquarters featured a different candidate, Isyaku Bawa, a move reportedly made on the governor’s orders.
Further fueling the rift, sources claim that Garba’s influence within the government has diminished, with even his monthly allowances being drastically reduced. “He has been excluded from major government decisions, and his role has been diminished despite his significant contributions to the party and his loyalty to the governor. Even his financial entitlements have been cut,” said an anonymous source.
Despite the widespread speculation, Garba has yet to publicly confirm any plans to resign. His press secretary, Ummikhultume Abdullahi, however, denied any knowledge of a resignation, adding that she had recently met with Garba at his official residence, and he had not yet fully moved out.
As the situation unfolds, many are left wondering whether Garba’s resignation will indeed take place or if ongoing discussions with influential figures in the state will convince him to stay in office.
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