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Afam Osigwe emerges NBA president

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A Senior Advocate of Nigeria (SAN) and former General Secretary of the Nigerian Bar Association (NBA), Mazi Afam Osigwe, has emerged as the president-elect in the just-concluded 2024 NBA election.

He polled 20,435 votes to beat his closest contender, the Chairman of the NBA-Institute of Continuing Legal Education Governing Council, Tobenna Erojikwe, who scored 10,998 votes.

The online voting began at 12am yesterday and ended at 11.59pm with the live results for all positions also presented online.

As of 12am on Sunday, Osigwe secured 20,395 votes, defeating Erojikwe, who garnered 10,970 votes while former NBA Lagos Branch Chairman, Chukwuka Ikwuazom (SAN), got 9,007 votes.

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Osigwe is set to succeed the outgoing President, Yakubu Maikyau (SAN).

The position of the Ist Vice-President went to Mr. Sabastine Anyia who polled 12, 114 votes to defeat his closest rival, Mr. Barthlomew Aguegbodo, who scored 6,864 votes, while four other contestants trailed behind.

For the position of the 2nd Vice-President, Mrs Bolatumi Olasunbo Animashun polled 26, 534 votes to defeat Mr. Pius Idemudia Oiwoh scored 11, 121 votes.

Similarly, Mrs. Zainab Aminu Garba defeated Mr. Michael Olarewaju Olorunmola to emerge as the 3rd Vice-President, having polled 23, 550 votes against Olorunmola’s 13, 897 votes.

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The post of General Secretary went to Dr. Mobolaji Idris Ojibara, who scored 25, 713 votes to defeat Mr. Abdulwasiu Alpha, who scored 11, 730 votes.

The new NBA President-elect, Osigwe was born on October 25, 1972.

He graduated from the University of Nigeria Enugu Campus in 1997 and was called to the Bar in 1999. He started legal practice with Chike Chigbue and Co, Abuja Office in 1999 and left in 2002 to found his firm, the LAW FORTE (Legal Practitioners, Corporate Consultants and Notary Public).

In 2006 he became a Notary Public of the Supreme Court of Nigeria.

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In 2010, he concluded a face-to-face tutorial at Keble College, Oxford, and obtained a Diploma in International Commercial Arbitration.

Osigwe became a Fellow of the Chartered Institute of Arbitrators (UK) in 2011.

In 2007 he obtained a Master’s of Laws Degree (LL.M) from the University of Jos.

He also holds another LL.M in (Transnational Commercial Practice) from the Centre for International Legal Studies, Austria (in collaboration with the Lazarsky University, Poland).

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He has appeared as a counsel in many arbitral proceedings as well as sat as a sole arbitrator or member of arbitral tribunals in commercial disputes. He is an avid reader and researcher.

Osigwe was the last person to hold office as the Chairman of the Nigerian Bar Association, Abuja Branch (Unity Bar) for the whole Federal Capital Territory, Abuja. Bwari and Gwagwalada Branches were created during his tenure as Chairman of the Unity Bar.

By consent of the chairmen of Bwari and Gwagwalada Branches of the NBA, he became the first Chairman of Chairmen of NBA Branches in the FCT, in 2012.

He was sworn in as the General Secretary of the Nigerian Bar Association in August 2014 and held that position till the expiration of his tenure on August 26, 2016.

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Just in: Plateau Govt Approves N70k Minimum Wage for Civil Servants

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By Kayode Sanni-Arewa

In line with discussions reached after consultation with relevant stakeholders, the Plateau State Government has approved immediate implementation of the N70, 000 minimum wage for the workforce in Plateau State.

The cheering news is contained in a Press Statement signed by the Head of Civil Service in the State, Stephen Pam Gadong.

Full text of the statement reads in part:

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Following the Agreement of the Committee on Consequential Adjustment on Salaries on 13th, November, 2024, the Executive Governor of Plateau State, His Excellency Barr. Caleb Mutfwang, has approved the immediate implementation of the N70,000 minimum wage for workers in the state.

The Implementation is a demonstration of the Governor’s commitment to prioritizing the wellbeing of the workforce in acknowledgement of their invaluableble role in driving the State’s developmental goals.

As the new wage policy is administered, Civil Servants are encouraged to embrace this gesture by recommitting to their duties with renewed dedication and zeal in order to foster a culture of productivity and excellence in service in the State.

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Before final liquidation, NDIC set to auction Heritage bank properties

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In a bid to ensure timely declaration of liquidation dividends to uninsured depositors of the failed Heritage Bank (In-Liquidation), the Nigeria Deposit Insurance Corporation (NDIC) has commenced the process of auctioning the landed properties and chattels of the defunct bank.

According to the Corporation, this exercise is in line with its statutory powers as the Liquidator of failed banks under section 62 (1)(d) of the NDIC Act, 2023, noting that; “This is another follow-up action sequel to the disposal of physical assets and chattels belonging to the defunct bank at its leased locations nationwide”.

This was contained in a statement signed by the Director, Communication and Public Affairs Department, Bashir A.

Therefore, the auction of the landed assets shall be by competitive bidding in sealed bids scheduled to take place at the six (6) selected locations of the Corporation across the country, for the affected 36 branches of the failed bank beginning from Wednesday 4th December 2024.
“Buyers who wish to participate in the auction are expected to follow laid down guidelines purposely aimed at ensuring transparency, fair competition, equity, and accountability to enable recovery of commensurate values from the exercise. This is critical for the payment of liquidation dividends to eligible claimants.

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The Corporation shall give preference to financial institutions who are willing to buy at the highest auctioned value to allow for the continuation of provision of banking services to the Nigerian public at the designated locations”, adding; “This is desirable towards bolstering financial inclusion as envisaged by the financial system regulatory authorities.

“However, Corporate bodies and Private individuals willing to compete are equally eligible to compete in the process without prejudice, the auction shall be open and competitive to all bidders.

Furthermore, bidders will be allowed to inspect the properties and chattels across all locations one week before the date of disposal.”

Importantly too, the statement said; “All interested parties are to make available 10% bid security of the value of their sealed bids to be dropped in the bid box provided at the specific centre out of the six locations of the Corporation as contained in the published advertisements.

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“All interested bidders are advised to submit their bids only at the designated NDIC offices covering their choices amongst Abuja, Lagos, Bauchi, Kano, Enugu, and Port Harcourt.”

Meanwhile, the Corporation has vowed that there would be no hiding place for debtors of the defunct Heritage Bank whose financial obligation portfolio is in the region of over N700 billion.

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Naira slumps in parallel market

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The Naira experienced a slight depreciation yesterday, slipping to N1,740 per dollar in the parallel market compared to its previous rate of N1,735 per dollar on Tuesday.

According to data from FMDQ, the indicative exchange rate for the Nigerian Autonomous Foreign Exchange Market (NAFEM) strengthened, rising to N1,645.4 per dollar from Tuesday’s rate of N1,689.88 per dollar. This marks an appreciation of N44.48 for the Naira.

The market also saw a significant increase in dollar trading activity, with turnover climbing by 122.5 percent to reach $236.84 million, up from $106.44 million the previous day.

As a result, the gap between the parallel market and the NAFEM exchange rate widened, now standing at N94.6 per dollar, up from N45.12 per dollar recorded on Tuesday.

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