News
There are more Yahoo boys in government than outside – Peter Obi
The 2023 Labour Party presidential candidate, Peter Obi has accused the Nigerian government of harbouring more corrupt individuals than the wider society.
Speaking at Nexford University’s 4th graduation ceremony in Lagos on Saturday, Mr Obi lamented that Nigeria is being exploited by public officials who misuse resources for personal gain.
Mr Obi, who was the guest speaker of the ceremony emphasised the importance of strong leadership, noting that it is crucial to manage the affairs of the country.
“For governance, don’t think when we talk about vices, it is only Yahoo boys. There are actually more Yahoo people in government than there are outside because we have turned the entire country into a crime scene where people inside are stealing and people outside are stealing,” he said.
Mr Obi further spoke on quality leadership urging the graduates to become positive change agents in their communities.
“It is about leadership and igniting the future. It is not rocket science but it is difficult. It is being able to have a strong character, the ability not to do the wrong thing,” he said.
“It is for you to help to bring a better change in that society that you want to live in. You have acquired knowledge today. Use what you have learnt to help us change society.
“You are a victim of Nigeria because our age and the age before has refused to do what is right and you are suffering it.”
In her remarks, the former Minister of Solid Minerals and CEO Human Capital Africa, Oby Ezekwesili highlighted the importance of selfless service as the bedrock of leadership.
Mrs Ezekwesili urged the graduates to engage in services that impact positively on both their workspace and the country as a whole.
“Service is the best of leadership. We hope that you see graduation as an opportunity for service to the work,” he said.
“The world of work you are in is different from our world of work. This whole world that you are in, you have to master it.”
Speaking to journalists on the sidelines of the event , Mr Obi emphasised the critical role of online education as a tool for addressing Nigeria’s educational challenges and driving national development.
He highlighted successful models from countries like Pakistan, India, and Turkey, which have used online platforms to educate vast populations effectively.
Mr Obi stressed that Nigeria must combine online and physical education to cater to its large population while enhancing access to quality learning.
“We need to massively educate people because education is one of the most important tools of development. The more educated any country or society is, the more developed,” he said.
NXU is an American online university headquartered in Washington DC. It was established in 2019 and has enrolled “thousands” of Nigerians according to the Nigerian Country Director, Oghogho Inneh.
Ms Inneh noted that about 1,200 students were conferred degrees including Bachelor of Business Administration (BBA), Master of Business Administration (MBA) and Master of Science in different programmes.
In his comments, the founder of the institution, Fadl Al-Tarzi, emphasised the university’s commitment to advancing education through technology, particularly with the integration of Artificial Intelligence (AI) into its programmes.
Mr Al Tarzi noted that Nexford has offered AI specialisation for nearly five years and has embedded AI across all courses.
He highlighted the transformative potential of AI in connecting Nigerian talents to global opportunities and driving economic growth.
“AI has the potential to significantly boost productivity, accelerate research, and solve complex problems in record time,” he stated.
He, however, cautioned that AI could also displace jobs, urging stakeholders to prepare for the technological shifts impacting Nigeria and global markets.
News
Court Remands P-Square’s Brother, Ex-Manager Jude Okoye IOver Alleged N1.3B, $1M, £34,000 Fraud
By Kayode Sanni-Arewa
The Economic and Financial Crimes Commission (EFCC) has taken Jude Okoye, the elder brother and former manager of the defunct music duo P-Square, to court over alleged money laundering involving ₦1.38 billion, $1 million, and £34,537.59.
Jude Okoye, along with his company Northside Music Ltd, was arraigned before Justice Alexander Owoeye of the Federal High Court in Lagos on Wednesday, facing a seven-count charge related to financial crimes.
One of the charges states: “That you, Jude Okoye Chigozie and Northside Music Ltd, sometime in 2022 in Lagos, within the jurisdiction of this Honourable Court, did directly acquire a landed property known as No 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos worth ₦850,000,000.00 (Eight hundred and fifty million naira) only, which money you knew or reasonably ought to have known forms part of proceeds of unlawful acts, thereby committing an offence contrary to Section 18 (2)(d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Another charge alleges that Jude Okoye and his company used a Bureau de Change operator to convert $1,019,762.87 (One million nineteen thousand, seven hundred and sixty-two dollars, eighty-seven cents) domiciled in Access Bank Plc into naira and remitted the funds into various accounts with the intent to conceal the source of the money, in violation of the Money Laundering Act.
Jude Okoye pleaded “not guilty” to the charges.
Following his plea, EFCC counsel Larry Peters Aso applied for a trial date and requested that the defendant be remanded in a correctional facility pending trial.
However, defence counsel Inibehe Effiong informed the court of a pending bail application and urged the court to keep Okoye in EFCC custody until the application is heard.
The prosecution opposed the request, citing congestion in EFCC facilities and urging the court to remand him to a correctional centre instead.
Justice Owoeye subsequently adjourned the case to February 28 for a bail hearing and fixed April 14 for trial commencement.
The judge also ordered that Jude Okoye be remanded at the Ikoyi correctional facility pending the determination of his bail application.
By Kayode Sanni-Arewa
Prince Funso Ayeni, an Ikole born philanthropist and politician has donated the sum of N1,000,000 for the support of one Esther Fisayo Aluko Medical needs.
Fisayo Aluko, an Indigene of Ikole LGA part of Ekiti State is currently in need of fund running to millions of Naira to carry out a kidney transplant.
Prince Funso Ayeni made his support known via a Whatsapp platform created for the Indigenes of the LG.
“Good afternoon great citizens,
I am Prince Funso Ayeni (PhD)
I am deeply touched by the condition of Esther Fisayo Aluko, a young lady from Ikole Ekiti, battling kidney issue.
On behalf of myself, my family, and the entire Funso Ayeni Foundation (FAF), I have donated ₦1,000,000 (one million naira) towards her medical treatment ( receipt attached).
“I also appeal to our brothers and sisters from Ikole Local Government, both in and out of government, to rally their contacts and resources to support this urgent cause.
“Together, we can give Esther a chance to live a healthy life again.
By Kayode Sanni-Arewa
The naira is exchanging for ₦1,498 to 1 US Dollar at the parallel market (black market) in Nigeria.
This means that for every one dollar, you can get the equivalent in naira of ₦1,498 on February 26, 2025.
The black market rate signifies the value at which individuals can trade their dollars for naira outside the official or regulated exchange channels.
Note that the Black Market Exchange rate is typically higher than the official exchange rate because it is not regulated by the government
Today’s February 26 exchange shows that the naira has improved against the dollar, as it strengthened compared to what it traded on Tuesday, February 25, when the naira exchanged ₦1,499.
The value of any nation’s currency is determined by aggregate supply and demand.
The forces of supply and demand are themselves influenced by a number of factors, including interest rates, inflation, capital flow, and money supply.
The most common method to value currency is through exchange rates. The two main exchange rate systems are fixed rate and floating rate systems.
Investors and participants closely monitor these parallel market rates for a more immediate reflection of currency dynamics
Court Remands P-Square’s Brother, Ex-Manager Jude Okoye IOver Alleged N1.3B, $1M, £34,000 Fraud
Funso Ayeni donates N1m, appeals to citizens to support Fisayo Aluko medical needs
Naira again falls against Dollar – February 26
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