NIGERIA MAY LOSE ITS SOVEREIGNTY TO CHINA THROUGH ADDICTED INDEBTEDNESS!

ZION B-BC

 NEWSLETTER.   

 

 A Publication of the Zion Faith Bible-Believing Church Kpeyegyi Abuja Nigeria.  {Vol. 13. NO 568. 8th September 2024} “…ONLY The Truth, Will Set You Free! (John.8:32).  PRAY & FAST EVERY WEDNESDAY TO STOP BLOODSHED IN NIGERIA!

 

NIGERIA MAY LOSE ITS SOVEREIGNTY TO CHINA THROUGH ADDICTED INDEBTEDNESS!

Another Forum on China Africa Cooperation (FOCAC) 4th-6th September 2024 had just been concluded in Beijing with strong advice that African Leaders should work together for common development in agriculture, industry, health, peace and security.

FOCAC meets every three years, alternating between an African country and China, although the 2021 meeting took place online due to COVID 19.

Although China had once again wooed lazy, unproductive, selfish, greedy and feudalistic African Leaders with another Loan of USD$ 51billion dollars for Strategic Capital Infrastructures it would meticulously monitor their numerous indebtedness to its country and prosecute any Breach!

Nigeria is acclaimed to be one of the greatest debtor to China and if care is not taken the country may become enslaved through property seizure or outright take- over of national assets or critical infrastructures applicable to indebted nations to recover its debts termed globally as:

Debt-trap diplomacy which is a term to describe an international financial relationship where a creditor country or institution extends debt to a borrowing nation partially, or solely, to increase the lender's political leverage. The creditor country is said to extend excessive credit to a debtor country with the intention of extracting economic or political concessions when the debtor country becomes unable to meet its repayment obligations. The conditions of the loans are often not publicized. The borrowed money commonly pays for contractors and materials sourced from the creditor country.

Although the Chinese Government has denied involvement in such unholy practice, past and present developments both in SRI LANKA and Nigeria did not support the denial!

China signs 99-year lease on Sri Lanka’s Hambantota port. - According to the Financial Times publication of 11th December 2017, Sri Lanka formally handed over its southern port of Hambantota built in 2010 to China on a 99-year lease, which government critics denounced as an erosion of the  country’s sovereignty

"The $1.3bn port was constructed using debt from Chinese state-controlled entities. But it has since struggled under heavy losses, making it impossible for Colombo to repay its debts. 

"In 2016, Sri Lankan ministers struck a deal to sell an 80 per cent stake in the port to the state-controlled China Merchants Port Holdings. 

"But that agreement sparked protests from unions and opposition groups, forcing the government to renegotiate it. Under the new plan, signed in July, the Chinese company will hold a 70 per cent stake in a joint venture with the state-run Sri Lanka Ports Authority."

IN NIGERIA THREE PRESIDENTIAL AIRCRAFTS & PROPERTIES IN BRITAIN AND CANADA WERE SEIZED BY CHINESE COMPANY ZHONGSHAN FUCHENG INDUSTRIAL INVESTMENT CO. LIMITED FOR BREACH OF AGREEMENT! [Nigeria owed China $4.29 billion dollars as at June 2022].

CHINA WAS A BACKWARD NATION LIKE NIGERIA ABOUT ONE CENTURY AGO!

But in the 21st Century, China has become the second largest economy after the United States of America (USA), while Nigeria remained the POVERTY CAPITAL OF THE WORLD!

China, officially the People's Republic of China, is a country in East Asia. With a population exceeding 1.4 billion, it is the world's second-most populous country after India. China spans the equivalent of five time zones and borders fourteen countries by land.

After decades of struggle, the 1911 Revolution resulted in the overthrow of the monarchy and the establishment of the Republic of China (ROC) the following year. The country under the nascent Beiyang government was unstable and ultimately fragmented during the Warlord Era, which was ended upon the Northern Expedition conducted by the Kuomintang (KMT) to reunify the country. The Chinese Civil War began in 1927, when KMT forces purged members of the rival Chinese Communist Party (CCP), who proceeded to engage in sporadic fighting against the KMT-led Nationalist government. Following the country's invasion by the Empire of Japan in 1937, the KMT and CCP temporarily agreed to a truce in favor of a united front against the Japanese. The Second Sino-Japanese War eventually ended in a Chinese victory; however, atrocities such as the Nanjing Massacre had a lasting impact on the country. 

The end of war with Japan in 1945 was quickly followed by a resumption of hostilities between the KMT and CCP. In 1949, the resurgent Communists established control over most of the country, proclaiming the People's Republic of China and forcing the Nationalist government to retreat to the island of Taiwan. The country was split, with both sides claiming to be the sole legitimate government of China. Following the implementation of land reforms, further attempts by the PRC to realize communism failed: the Great Leap Forward was largely responsible for the Great Chinese Famine that ended with millions of Chinese people having died, and the subsequent Cultural Revolution was a period of social turmoil and persecution characterized by Maoist populism. Courtesy: Wikipedia.

NIGERIA, ABOUT THE SAME TIME WENT THROUGH A PROCESS OF AMALGAMATION!

In 1914, Southern Nigeria was joined with Northern Nigeria Protectorate to form the single colony of Nigeria. The unification was done for economic reasons and the colonial administration sought to use the budget surpluses in Southern Nigeria to offset this deficit.

Sir Frederick Lugard, who took office as governor of both protectorates in 1912, was responsible for overseeing the unification, and he became the first governor of the newly united territory. Lugard established several central institutions to anchor the evolving unified structure. A Central Secretariat was instituted at Lagos, which was the seat of government, and the Nigerian Council (later the Legislative Council), was founded to provide a forum for representatives drawn from the provinces. Certain services were integrated across the Northern and Southern Provinces because of their national significance—military, treasury, audit, posts and telegraphs, railways, survey, medical services, judicial and legal departments—and brought under the control of the Central Secretariat in Lagos.

The process of unification was undermined by the persistence of different regional perspectives on governance between the Northern and Southern Provinces, and by Nigerian nationalists in Lagos. While southern colonial administrators welcomed amalgamation as an opportunity for imperial expansion, their counterparts in the Northern Province believed that it was injurious to the interests of the areas they administered because of their relative backwardness and that it was their duty to resist the advance of southern influences and culture into the north. Southerners, on their part, were not eager to embrace the extension of legislation originally meant for the north to the south.

SIMILAR HISTORICAL ANTECEDENTS BUT DIFFERENT RESULTS!

It's a shame that Nigeria as a former colonized country embarked on a journey of squandermania through the Capitalist American Presidential System and eventually became a BEGGAR NATION while CHINA PRIORITIZED THE SOCIO-ECONOMIC INTERESTS OF ITS CITIZENS AND HAVE BECOME A NEO-COLONIALIST TO NIGERIA AND ALL OTHER 53 AFRICAN NATIONS!

We are not surprised! Nigeria got her freedom on A PLATTER OF GOLD FROM BRITAIN!

No war fought...no single shot fired before "independence!

"Whatever is not sweated for is never cherished"!

REDEMPTION OF NIGERIA IS IN A ONE-HOUSE PARLIAMENTARY SYSTEM THROUGH A NEW CONSTITUTION AND REFERENDUM!

[EXPECT A PRIME MINISTER IN NIGERIA NOW!]

Please look forward to more divine revelation in the next edition of Zion B-BC Newsletter as you share this with friends and remain blessed in the Lord. [For weekly access, to this newsletter, log on to:  facebook.com/zionfaithbible.believingchurch or http://www.zfbbc1.blogspot.com,

Please look forward to divine revelations in  The Sure Word Gospel Tracts, Our divinely inspired books on the Amazon KINDLE Store Namely: The Unbroken Chain of Grace, Nigeria’s Pot Pourri (Volumes 1-5), Godly Politicking For World Peace,  and The Wedding Mascot Died

If you have not accepted the Lord Jesus Christ as your personal Lord and Saviour, don’t miss this great opportunity as you pray  this prayer: Lord Jesus; I confess that I am a sinner who needs to be saved through the grace of the New Testament in your Blood, shed on the Cross at Calvary; I renounce every sin in my life and accept you as my Lord and personal Saviour. Please forgive me and write my name in the Book of Life. Amen. If you prayed this prayer, you have been admitted into the family of sons and daughters of God, who are born-again. Congratulations!

I am yours sincerely, THE WATCHMAN Dr. David B.A. Olufon, Resident Pastor and Editor. 08130669886, 08058436756. g-mail-dvdolufon@gmail.

TINUBU MUST DELIVER NEW CONSTITUTION THROUGH REFERENDUM WITHIN SIX TO NINE MONTHS!

ZION B-BC

 NEWSLETTER.

 A Publication of the Zion Faith Bible-Believing Church Kpeyegyi Abuja Nigeria. {Vol. 13. NO 567. 1st September 2024} “…ONLY The Truth, Will Set You Free! (John.8:32). PRAY & FAST EVERY WEDNESDAY TO STOP BLOODSHED IN NIGERIA!

TINUBU MUST DELIVER NEW CONSTITUTION THROUGH REFERENDUM WITHIN SIX TO NINE MONTHS!

[APPEAL TO FELLOW NIGERIANS: PLEASE SUPPORT THE PATRIOTS ABLY LED BY EMINENT ELDER STATESMAN CHIEF EMEKA ANYAOKU!]

Globe-trotting to overseas countries by President Bola Tinubu has not brought economic dividends to Nigeria in FOURTEEN MONTHS - MAY 2033-AUGUST 2024!

Instead, major foreign investors have closed shop and moved out of Nigeria in frustration! Prominent among them in ONE YEAR of Tinubu's Administration were Diageo, PZ Cussions, Microsoft. Equinor, Binance, Kimberly-Clark, manufacturers of Huggies and Kotex brands of diapers; US-based Procter and Gamble (P&G); GlaxoSmithKline (GSK); Unilever, Bolt and Sanofi-Aventi Nigeria, who are either exiting completely or reducing their exposure in a country facing its worst cost-of-living crisis in decades.

President Tinubu since his investiture, traveled out of Nigeria, TWENTY TIMES, VISITED FOURTEEN COUNTRIES AND SPENT 71 DAYS OUTSIDE OF NIGERIA WITHIN NINE MONTHS!

Combined with his Vice, Kashim Shettima, the Presidency through the State House had spent at least NGN16.06 billion naira to purchase foreign currencies as at July 2024 on foreign trips!

AGAIN on Thursday 29th August 2024, he departed Nigeria for Beijing, China "on an official visit" as usual with a large entourage!

A statement from his spokesman Ajuri Ngalale added that "President Tinubu will have a brief layover in the United Arab Emirates.

“In China, the President will meet with President Xi Jinping and hold meetings with Chinese business leaders on the sidelines of the Forum on China-Africa Cooperation".

Expert says Tinubu’s Beijing visit to strengthen Nigeria-China bilateral ties

NEWS AGENCY OF NIGERIA. August 30, 2024

Otubanjo, a Research Professor at the Nigerian Institute of International Affairs (NIIA), said this in an interview with the News Agency of Nigeria (NAN) on Friday in Lagos. He said that China was critical in terms of its participation in Nigeria’s economy.

The News Agency of Nigeria (NAN) reports that President Bola Tinubu, on Thursday departed for Beijing, China on his first official visit since he was inaugurated in 2023.

During this trip, the President will visit two major Chinese corporations, Huawei Technologies, and the China Railway and Construction Corporation (CRCC). He will also join the Forum on China–Africa Cooperation (FOCAC) held in Beijing from September 4 to September 6.

This latest foreign journey would keep him away from Nigeria for not less than TEN DAYS!

TINUBU HAS NO POSITIVE AGENDA FOR NIGERIA!

From the onset, Mr. Tinubu declared that he would follow in the footsteps of his predecessor Muhammadu Buhari, who traveled the world, borrowed money from virtually every country, printed more at home and saddled Nigeria with not less than NGN38 TRILLION NAIRA AT DEPARTURE!

Tinubu' s blind followership led to the CITIZENS ' REVOLT AGAINST BAD GOVERNANCE [1ST-10TH AUGUST 2024],

due to flawed policies which portrayed him as lacking in modern technology to first tackle insecurity in order to achieve economic success!

THE FOLLOWING ARE EXTRACTS OF TINUBU'S SCORECARD BY SOME ANALYSTS!

1) Tinubu’s first-year performance rating: Score: 37%; grade: fail!

Olu Fasan June 3, 2023: Tutor at the London School of Economics (LSE) says: "Well, first, Tinubu’s government lacks an organising principle and a coherent vision; everything is based on a scattergun approach. The first evidence of the absence of vision is the formation of his cabinet. No president who wants to succeed, knowing the challenges that Nigeria faces, would form the kind of cabinet Tinubu formed. It was a cabinet designed to reward cronies, return political favours, and shore up support for his re-election bid in 2027. Why, for instance, did Tinubu put virtually all the economic ministries under his Lagos “boys” and other cronies from the south-west, his geopolitical zone? Why are there so many deadwood ministers whose only qualifications were that, as governors, they helped Tinubu “win” their states? Why did he choose to form a government of cronies, sycophants, and political jobbers? Truth be told, Tinubu’s current cabinet is too weak and ineffectual to tackle Nigeria’s acute challenges; the time calls for a government of all talents."

2) President Tinubu’s Scorecard .-Tunde Chris Odediran." Subsidy removal led to immediate inflationary pressures, affecting the cost of living and leading to pockets of protests and demands for wage increases by workers." It is incontrovertible to assert that the economic landscape remains challenging. Inflation rates have continued to soar, affecting cost of living for most Nigerians. "The naira’s depreciation against major currencies, the worst ever seen, has further strained household and businesses incomes.” Despite efforts to stabilize the currency through various monetary instruments, the desired impact is a dream.

3) One Year of Tinubu By Azu Ishiekwene May 23, 2024. "Perhaps the most consequential was his announcement, adlib, that “fuel subsidy is gone.” The removal was overdue. A good number of people agreed, even though some opposed the precipitous announcement and the subsequent merger of the exchange rate as evidence of Tinubu’s overzealous attempt to please the IMF and World Bank. It might also have been an honest attempt by him to preempt being taken hostage by the bureaucracy. "Whatever the motivation was, it backfired; not because of the announcement, but because the government seemed totally unprepared to manage the fallout. There was, strictly speaking, no government to speak of at the time. The chaos that followed the announcement piled on the chaos that Tinubu met in office."

THE ONLY WAY OPEN TO TINUBU IS TO BOW TO THE SUPERIOR DEMAND OF THE PATRIOTS' AND THE CITIZENS!

Presidential system of government for a developing African Country as Nigeria is TOO EXPENSIVE, IT IS ABOMINATION -ANATHEMA!

In 24 years - the obnoxious system, run by greedy and very corrupt politicians has turned Nigerians into mere SLAVES in their own country because of the outlandish lifestyles of heartless and brutish leaders who have cornered all economic benefits in all sectors to themselves through the extant laws of A DEFORMED MILITARY CONSTITUTION!

Tinubu's response to the Patriots was NEGATIVE but he has no choice than to BOW TO THE WISH OF THE CITIZENS WHO VOTED HIM AS PRESIDENT IN A DISPUTED VICTORY OF A MARGINAL 37% OF THE TOTAL VOTES CAST!

"Obedience is better than FAT OF RAMS!"

[EXPECT A PRIME MINISTER IN NIGERIA NOW!]

Please look forward to more divine revelation in the next edition of Zion B-BC Newsletter as you share this with friends and remain blessed in the Lord. [For weekly access, to this newsletter, log on to: facebook.com/zionfaithbible.believingchurch or http://www.zfbbc1.blogspot.com,

Please look forward to divine revelations in The Sure Word Gospel Tracts, Our divinely inspired books on the Amazon KINDLE Store Namely: The Unbroken Chain of Grace, Nigeria’s Pot Pourri (Volumes 1-5), Godly Politicking For World Peace, and The Wedding Mascot Died

If you have not accepted the Lord Jesus Christ as your personal Lord and Saviour, don’t miss this great opportunity as you pray this prayer: Lord Jesus; I confess that I am a sinner who needs to be saved through the grace of the New Testament in your Blood, shed on the Cross at Calvary; I renounce every sin in my life and accept you as my Lord and personal Saviour. Please forgive me and write my name in the Book of Life. Amen. If you prayed this prayer, you have been admitted into the family of sons and daughters of God, who are born-again. Congratulations!

I am yours sincerely, THE WATCHMAN Dr. David B.A. Olufon, Resident Pastor and Editor. 08130669886, 08058436756. g-mail-dvdolufon@gmail.

FUEL SUBSIDY IS BACK UNDER PSEUDO NAMES OF "UNDER RECOVERY'" & "SHORTFALL"!

   ZION B-BC

 NEWSLETTER.   

 

 A Publication of the Zion Faith Bible-Believing Church Kpeyegyi Abuja Nigeria.  {Vol. 13. NO 566. 25th August 2024} “…ONLY The Truth, Will Set You Free! (John.8:32).  PRAY & FAST EVERY WEDNESDAY TO STOP BLOODSHED IN NIGERIA!

 

FUEL SUBSIDY IS BACK UNDER PSEUDO NAMES OF "UNDER RECOVERY'" & "SHORTFALL"!

The long -awaited PMS (Premium Motor Spirit) will flow from the Federal Government ''s Port Harcourt Refinery for public consumption from the month of September 2024 according to official sources!

The September date is the umpteenth since the departure of the past APC Administration which awarded a whooping USD$1.5billion dollars for another round of "maintenance"! In the meantime President Bola Tinubu had secretly returned FUEL SUBSIDY without much publicity BUT failed to reverse the Pump Price to NGN195 NAIRA PER LITRE!

In our several past publications, WE advised that if he made a U TURN, Heaven Would Not Fall BUT his apologists confused him with falsehoods that:

* Nigeria's economy would come to a standstill if the unilateral declaration was reversed.

*That government would not be able to deliver socio-economic contracts and obligations like debt-servicing, compulsory remittances to global sub-regional bodies etc. on regular basis.

*Fresh insecurities would emerge in preventing smuggling of petroleum products to neighboring countries along the nation's porous borders.

*That outstanding debts that were due to offset previous importations would accumulate.

*That artificial fuel scarcity would ensue because private importers that were enjoying the new prices N700-N1,000 naira per litre of PMS "according to international market forces", would hoard the products and created fresh artificial scarcity and that the masses would be worse for etc.!

Apologists are professional opportunists who would always create the worst scenarios to justify their appointments and pecuniary gains even at the peril of sub-consciously. or deliberately instigating imminent civil disobedience that could be diplomatically avoided!

AND THEY SUCCEEDED IN DECEIVING THE PRESIDENT WHO HAD BEEN OUT OF CIRCULATION FOR 15 YEARS (2007-2023),TO REMAIN ADAMANT! BUT EVERY LIE HAS A TERMINAL DATE!

BELOW ARE RECENT MEDIA REPORTS:

CABLE NEWS: After denying return of subsidy, NNPC finally confirms payments!

AUGUST 19, 2024.

The Nigerian National Petroleum Company (NNPC) Limited says the federal government owes it N7.8 trillion for petrol subsidy. NNPC’s disclosure comes after denying the existence of petrol subsidy again on Monday 19th August 2024.

The Cable had reported that President Bola Tinubu approved a request by NNPC to utilise the 2023 final dividends due to the federation to pay for the petrol subsidy.

August 15, 2023, The Cable reported that President Bola Tinubu was considering a “temporary subsidy” on petrol as crude oil prices and foreign exchange rates. 

However, Ajuri Ngelale, presidential spokesperson, said there was no reintroduction of subsidy. Also, on January 3, NNPC denied the return of petrol subsidy, saying it had been removed entirely!

PREVIOUSLY NNPC Ltd. on 20th August 2023, one year ago, had said 

when it secured a USD$3bn foreign loan facility through Cairo -based Afrexim Bank that the, deregulation policy remained unchanged but that a stronger Naira would result in lower prices and serve as BUFFER and be disbursed to favor Nigerian poor masses.

It is an emergency CRUDE OIL REPAYMENT LOAN and not a CRUDE-FOR-REFINED PRODUCT SWAP but an upfront cash loan against proceeds from a limited amount of future crude oil production according to the organization and that there were no SOVEREIGN GUARANTEES tied to the loan!

BUT PRESENTLY, Umar Ajiya, NNPC’s chief financial officer, during a media briefing on the company’s 2023 audited financial statements (AFS) in Abuja, said the company was only “taking care of the SHORTFALL ON PETROL IMPORTATION BETWEEN IT AND THE FEDERATION ".

After the public denial, Ajiya told BLOOMBERG, after the company announced its results, that NNPC is owed N7.8 trillion ($4.9 billion) by the government in subsidy debts from January to July.

Ajiya said the government will allow NNPC to offset about N2.2 trillion it owes the country against the subsidy debt.

In June, when fiscal policy documents were in circulation, which cited N5.4 trillion petrol subsidy provision for 2023, Wale Edun, minister of finance and coordinating minister of the economy, said the documents WERE NOT APPROVED BY THE GOVERNMENT!!!

THE UNDENIABLE TRUTH IS IN THE OPEN!

Tinubu Approves NNPC’s Request To Use Dividends To Pay Subsidy, As Fuel Subsidies Gulp N6.8Trillion

August 19, 2024, BUSINESS DAY NEWS:

The report which is based on a forecast from NNPC, obtained by the newspaper, indicated that the total petrol subsidy expenses from August 2023 to December 2024 will amount to N6.884 trillion, leaving the company unable to remit N3.987 trillion in taxes and royalties to the federation account.

NNPC LTD. IS THE SOUL IMPORTER OF PMS FROM OVERSEAS!

Despite many denials by the Nigerian government on non-payment of fuel subsidies, President Bola Tinubu has given approval to the Nigerian National Petroleum Company (NNPC) Limited to use the 2023 final dividends owed to the federation to cover the cost of petrol subsidies, Business Day reports. The president reportedly approved a halt on the payment of 2024 interim dividends to the federation to help boost NNPC’s cash flow. The NNPC informed the president that due to the subsidy payments, it is currently unable to pay taxes and royalties into the federation account, REFERRING TO THIS AS A “SUBSIDY SHORT/FALL AND DIFFERENTIAL"

The exact number of dividends that would be withheld or put on hold could not be verified according to the newspaper.

THE PRESIDENT COULD STILL REDEEM HIS DWINDLING IMAGE BY DOING THE NEEDFUL:

*Announce reversal of PMS pump price to N195 naira per liter.

*Employ prerogative presidential fiat for DANGOTE REFINERIES TO COMMENCE OPERATIONS AND REMOVE SCARCITY ACROSS THE COUNTRY PERMANENTLY!

*Wage colossal war and eliminate OIL THEFT GANGS & OIL BUNKERING in the Niger Delta Region to meet OPEC daily production mark of TWO MILLION  barrels per day,  shore up Nigeria’s Foreign Exchange (FOREX), earnings and increase the inadequate Gross Domestic Product (GDP) figure!

*Deploy special Military Forces to the UNGOVERNED AREAS OF THE NORTH EAST occupied by BANDITS and eliminate them for farmers to return to the land and boost AGRICULTURE!

*Reduce cost of governance by cutting to two-thirds current humongous salaries & allowances of the THREE-TIER!

*Return the NGN160billion Presidential Aircraft and the NGN5billion naira First Lady Luxury Yatch & redeploy the funds to social infrastructures for the masses!

*Urgently address the PATRIOTS PROPOSALS FOR A PEOPLE'S CONSTITUTION THROUGH A CONSTITUENT ASSEMBLY AND REFERENDUM!

President Tinubu promised RENEWED HOPE FOR NIGERIANS. HE SHOULD FULFILL HIS PLEDGE!

"A stitch in time saves nine"!

[EXPECT A PRIME MINISTER IN NIGERIA NOW!]

Please look forward to more divine revelation in the next edition of Zion B-BC Newsletter as you share this with friends and remain blessed in the Lord. [For weekly access, to this newsletter, log on to:  facebook.com/zionfaithbible.believingchurch or http://www.zfbbc1.blogspot.com,

Please look forward to divine revelations in  The Sure Word Gospel Tracts, Our divinely inspired books on the Amazon KINDLE Store Namely: The Unbroken Chain of Grace, Nigeria’s Pot Pourri (Volumes 1-5), Godly Politicking For World Peace,  and The Wedding Mascot Died

If you have not accepted the Lord Jesus Christ as your personal Lord and Saviour, don’t miss this great opportunity as you pray  this prayer: Lord Jesus; I confess that I am a sinner who needs to be saved through the grace of the New Testament in your Blood, shed on the Cross at Calvary; I renounce every sin in my life and accept you as my Lord and personal Saviour. Please forgive me and write my name in the Book of Life. Amen. If you prayed this prayer, you have been admitted into the family of sons and daughters of God, who are born-again. Congratulations!

I am yours sincerely, THE WATCHMAN Dr. David B.A. Olufon, Resident Pastor and Editor. 08130669886, 08058436756. g-mail-dvdolufon@gmail.

NEW NIGERIAN CONSTITUTION THROUGH NATIONAL REFERENDUM AT LAST!

ZION B-BC

 NEWSLETTER.

 

A Publication of the Zion Faith Bible-Believing Church Kpeyegyi Abuja Nigeria. {Vol. 13. NO 565. 18th August 2024} “…ONLY The Truth, Will Set You Free! (John.8:32). PRAY & FAST EVERY WEDNESDAY TO STOP BLOODSHED IN NIGERIA!

NEW NIGERIAN CONSTITUTION THROUGH NATIONAL REFERENDUM AT LAST!

Although global democracies should under normal circumstances legitimize their Constitutions through National Referendum; for 25 years, Nigeria, the giant of Africa has administered the nation with a FORGED MILITARY CONSTITUTION AND THE COUNTRY HAD NEVER KNOWN PEACE!

From a retired military HEAD OF STATE in1999, to a TIRED BLOODY CIVILIAN in 2023, Nigeria had the worst international rating index in all facets of human endeavors as follows:

* Wholesome corruption in the civil service at national & sub-national levels, the presidency/governorship;

*Heinous crimes/criminalities, terrorism, gangsterism;

* Constant pandemic in the health sector:

* Highest mother/child mortality rate;

* High-profile cases of murders/assassinations;

* The uncertainty of citizens life due to Police/Amy brutality in the midst of Abject Poverty, Oil/Gas pollution etc, etc!

All of the above were fallouts of maladministration, greed, and avarice and self- aggrandizement by political jobbers who took advantage of the several flaws in the adulterated 1999 Military Constitution and surreptitiously capitalized on them!

THE DEMAND FOR PARLIAMENTARY SYSTEM OF GOVERNMENT IN NIGERIA IS GAINING MOMENTUM.

The PATRIOTS have landed to support OUR ELEVEN-YEAR ADVOCACY AND CAMPAIGN AGAINST THE PRESIDENTIAL SYSTEM AS PRACTICED WITH THE 1999 MILITARY CONSTITUTION HANDED OVER TO GREEDY POLITICIANS who swallowed the bait, hook, line and sinker and have since the advent of the nascent democracy, practiced DIARCHY! The Soldiers are employed and deployed to every facet of administration in Nigeria!

WHO ARE THE PATRIOTS?

The Patriots are a group of eminent Nigerians leaders of thoughts, think-tanks, elder statesmen, captains of industries, very senior lawyers and retired civil servants who have served in various capacities at home, abroad and internationally - headed by former very distinguished Secretary General of the Commonwealth of Nations, His Eminence, Chief Emeka Anyoku!

On Monday 12th August these eminent group of Nigerian Statesmen met with President Bola Tinubu at the Aso Rock State House and proffered the following SUGGESTIONS THAT WOULD BIRTH A NEW NIGERIA that would fulfill the Citizens' dreams and aspiration.

1) Citizens need a new legitimate Nigeria peoples democratic constitution. That the present constitution is illegitimate and cannot deal effectively with the myriad challenges facing the country.

2) Our present governance system needs to be restructured because Nigeria is a pluralistic country of different peoples, with different languages, different cultures and different religions.

3) Experience throughout the world has shown that the pluralistic countries that have survived as united political entities are those that addressed the basic challenge of pluralism: that is, their diversity through truly federal constitutions and

4) That those pluralistic countries that persisted in their non-truly federal constitutions ended up disintegrating!

PROPOSALS BY THE PATRIOTS.

1) The President should forward an Executive Bill to the National Assembly for the purpose of convening a National Constituent Assembly to consist of THREE individuals elected by the people on non-party bases from each of the 36 States and one from the Federal Capital Territory (FCT) and then should be mandated to produce A NEW DRAFT CONSTITUTION.

2) As our laws stand at the moment we have no provision for a NATIONAL REFERENDUM therefore, the new draft constitution should be subjected to a national referendum in order to give the peoples of Nigeria a chance to determine the DOCUMENT.

3) With due diligence, the patriotic feat could be achieved within SIX TO NINE MONTHS!

4) In respect of the current crisis of #EndBadGovernance Protest, law enforcement agencies namely the police and the army should avoid using lethal weapons in the management of the process to avoid casualties.

5) Social Development, Education and Health issues as highlighted in the 1999 Constitution are mere fronting; but the new constitution would make it easier for the Nigerian Government to fulfill all obligations like other countries that have legitimate constitutions and survive!

TINUBU'S NEGATIVE RESPONSE WAS EXPECTED!

He promised to look into the Patriots' Proposals at a later date because his most urgent pre-occupation was how TO FIX THE ECONOMY!!

QUESTION: HOW CAN A SUCCESSFUL ECONOMY EMERGE FROM A BAD CONSTITUTION?

DOES HE HAVE A CHOICE IN THIS BURNING ISSUE?

Nigerians are wiser! They know that Mr President and the LEGISLATORS are in league to totally destroy the Nigeria they swore to build!

Their ostentatious lifestyles made possible through the Presidency which approved humongous salaries, allowances, exotic vehicles etc. have totally alienated them from the MASSES whom they claim to represent and definitely they would support the PIPER - Mr. Bola Tinubu!

In the last quarter of year 2023, some of them ganged up at the House of Representatives, sponsored a Bill in support of a Parliamentary System of Government which should commence in the year 2031 when Mr. Tinubu would have completed TWO TERMS in office and they would have succeeded to further loot whatever remained of the Treasury!

 BUT the Clandestine Bill died a natural death after Second Reading because it lacked majority support from other legislators!

THE PATRIOTS VERSUS NATIONAL COUNCIL OF STATE MEMBERS!

"When men are cast down, thou shalt say, there is LIFTING UP! (Job. 22: 29-30).

Wed. 14th August 2024, THE COUNCIL OF STATE OF LESS THAN 500 PEOPLE - SHAMELESSLY DECLARED VOTE OF CONFIDENCE IN TINUBU'S ADMINISTRATION - As against the Citizens VERDICT of #ENDBAD GOVERNANCE COMPRISING OVER 200 MILLION CITIZENS!

On what criteria is the Endorsement based? Nigerians should not have expected any positivity from a crop of Failed/Corrupt Administrators of past successive civilian/military governments!

IT WILL NOT BE BUSINESS AS USUAL FOR TINUBU WHOSE BODY LANGUAGE IS NEGATIVE TO REALITY!

Globe-trotting to EQUATORIAL GUINEA on three- day visit (15th - 17th August, 2024) with large entourage constitute further wastage and DEPLETION OF THE BAD ECONOMY WHICH HE CLAIMED HE WOULD RESUSCITATE!

He should make wise decisions before it is too late! Nobody plans to unseat him BUT HE SHOULD HEARKEN TO THE NIGERIAN PEOPLE TO WHOM SOVEREIGNTY BELONGS. A NEW CONSTITUTION THROUGH NATIONAL REFERENDUM IS THE SOLUTION TO THE PERSISTENT BAD GOVERNANCE!

"A stitch in time saves nine!"

[EXPECT A PRIME MINISTER IN NIGERIA NOW!]

Please look forward to more divine revelation in the next edition of Zion B-BC Newsletter as you share this with friends and remain blessed in the Lord. [For weekly access, to this newsletter, log on to: facebook.com/zionfaithbible.believingchurch or http://www.zfbbc1.blogspot.com,

Please look forward to divine revelations in The Sure Word Gospel Tracts, Our divinely inspired books on the Amazon KINDLE Store Namely: The Unbroken Chain of Grace, Nigeria’s Pot Pourri (Volumes 1-5), Godly Politicking For World Peace, and The Wedding Mascot Died

If you have not accepted the Lord Jesus Christ as your personal Lord and Saviour, don’t miss this great opportunity as you pray this prayer: Lord Jesus; I confess that I am a sinner who needs to be saved through the grace of the New Testament in your Blood, shed on the Cross at Calvary; I renounce every sin in my life and accept you as my Lord and personal Saviour. Please forgive me and write my name in the Book of Life. Amen. If you prayed this prayer, you have been admitted into the family of sons and daughters of God, who are born-again. Congratulations!

I am yours sincerely, THE WATCHMAN Dr. David B.A. Olufon, Resident Pastor and Editor. 08130669886, 08058436756. g-mail-dvdolufon@gmail.

NO PLACE TO HIDE - TINUBU MUST FACE THE MUSIC!

ZION B-BC

 NEWSLETTER.   

 

 A Publication of the Zion Faith Bible-Believing Church Kpeyegyi Abuja Nigeria.  {Vol. 13. NO 564. 11th August 2024} “…ONLY The Truth, Will Set You Free! (John.8:32).  PRAY & FAST EVERY WEDNESDAY TO STOP BLOODSHED IN NIGERIA!

 

NO PLACE TO HIDE - TINUBU MUST FACE THE MUSIC!

(WE ARE BACK ON DUTY AFTER TWO MONTHS RECESS TO SERVE YOU BETTER!)

A lot of waters passed under the bridge during our very first holiday in ELEVEN YEARS of unbroken publication!

Our last Edition No. 563 of 26th May, 2024, was titled “JUSTICE & , MERCY FOR SANUSI LAMIDO SANUSI II AT LAST"!

TINUBU IS PLAYING THE FIDDLE WHILE NIGERIA IS IN FLAMES!

The trending issue on the political scene Nigeria now is the occupation of the Nation by #End Bad Governance Protesters by the masses of hungry/angry youths, and the unemployed who trooped out from 1st August and have vowed to remain on the streets of Nigeria’s federal Capital Territory and all State Capitals in spite of Police/Army intimidations for 10 consecutive days!  They gave not less than three of weeks notice to the Federal government and the entire nation BUT Mr.President did not address the agitators! They are also demanding from the Federal Government several restitutions to resolve bad governnace.They are majorly hammering for the reversal of petroleum PUMP PRICE TO STATUS QUO AS AT 29th May 2023, when President Tinubu during his investiture verbally and unilaterally removed the controversial SUBSIDY!

Media reports claimed that between 17 to 40 people were killed with live bullets across Nigeria especially in  the North where protest was hijacked by sponsored hoodlums who carried Russian Flags and demanded that the Army should take over Those deaths would have been avoided if Mr. Tinubu addressed the aggrieved people before August 1st 2024! 

The Take It Back Movement, a major organizer of the #EndBadGovernance Protests, announced a massive one-million-man demonstration scheduled for the last day Saturday 10th August,2024 across all 36 states of Nigeria and the Federal Capital Territory (FCT), Abuja. totaling 37 MILLION!

#EndBadGovernance protest may go beyond 10 days if demands aren’t addressed, say organizers. Damilola Adenola, director of mobilisation at ‘Take it Back Movement’, has confirmed that the nationwide protest against economic hardship may go beyond 10 days if demands are not met.

‘Take it Back Movement’ is one of the organisers of the protest.

1) The protesters are demanding for a cut in the size of government. 

2) Return of petrol subsidy regime.

3) Food security.

4) Fiscal discipline and 

5) Emergency against insecurity among others.

During an interview on Channels Television Adenola said: “The protest, like we said, was slated for 10 days but it may go beyond, depending on the response we get from the government. But it doesn’t seem like we are dealing with a responsible government,” he said.

“So, the government should expect it to go beyond 10 days if our demands are not addressed.”

BEFORE THE RECESS WE WARNED TINUBU IN ONE PAST EDITION TO BE VERY AFRAID OF THE PEOPLE TO WHOM SOVEREIGNTY BELONGS AND NOT THE KHAKI BOYS BUT HE TURNED THE DEAF EAR!

We are not surprised at the turn of events because whosoever could disobey the Lord God Almighty our CREATOR would have no regard for Humans! Tinubu had refused Divine Command to initiate the process for A UNICAMERAL (ONE HOUSE ), PARLIAMENTARY SYSTEM IN OFFICE THROUGH REFERENDUM WITHIN SIX MONTHS IN OFFICE but instead increased hardship on the masses through policy somersault on fuel subsidy removal!

Professor Wole Soyinka once described, Tinubu as "ALAGIDI" meaning a very stubborn and stiff-necked person! 

Proverbs 29:1 [1] He, that being often reproved hardeneth his neck, shall suddenly be destroyed, and that without remedy.

Psalms 14:1 [1] The fool hath said in his heart, There is no God. They are corrupt, they have done abominable works, there is none that doeth good.

TINUBU'S ABYSMAL FAILURE - IN FOURTEEN MONTHS 

It has always been a habitual hat-trick for the Ostrich to hide its very long neck under a bushel in time of danger and feel secured and whereas its massive body was totally defenceless!

A vivid description of President Bola Tinubu’s woeful performance - 14 months in office as President of Nigeria! THERE IS NO WHERE TO HIDE ANYMORE BUT FOR HIM TO ACCEDE TO ALL DEMANDS OF THE PEOPLE TO WHOM POWER BELONGS!

President Bola Tinubu depended on surrogates for advice and they have failed him. This points to the fact which We have been emphasizing that he was not prepared for the enormous job BUT only wanted to add Presidency of Nigeria to the chain of his dubious achievements namely:

1) The controversial US Chicago College Certificate .

2) Denial of conviction for Drug Offences in the US.

3) Purchase of Delegates with US Dollars during APC Primaries for a Presidential Candidate.

4) THE BRAG that no CABAL could influence his decisions because he won the Presidential Elections with HIS PERSONAL MONEY without donations from any quarters!

DAY 10 OF THE PROTEST DID NOT ATTRACT 37 MILLION BUT THE FEW WHO MATCHED THE STREETS IN ABUJA AND OTHER STATE CAPITALS PROMISED TO BE BACK IN OCTOBER 2024!

THE LAST CARD!

President Tinubu has no choice than to do the WILL OF GOD by acceding to all DEMANDS OF THE PROTESTERS in order to avoid ANARCHY and a total SHUTDOWN OF GOVERNMENT BY MISCREANTS WHO HAVE BEEN SPONSORED TO PERPETRATE FORCEFUL  AND VIOLENT CHANGE LIKE IN BANGLADESH!

WE PRAY THAT SUCH CALAMITY WOULD NOT BEFALL OUR BELOVED COUNTRY IN JESUS CHRIST MIGHTY NAME, AMEN!

[EXPECT A PRIME MINISTER IN NIGERIA NOW!]

Please look forward to more divine revelation in the next edition of Zion B-BC Newsletter as you share this with friends and remain blessed in the Lord. [For weekly access, to this newsletter, log on to:  facebook.com/zionfaithbible.believingchurch or http://www.zfbbc1.blogspot.com,

Please look forward to divine revelations in  The Sure Word Gospel Tracts, Our divinely inspired books on the Amazon KINDLE Store Namely: The Unbroken Chain of Grace, Nigeria’s Pot Pourri (Volumes 1-5), Godly Politicking For World Peace,  and The Wedding Mascot Died

If you have not accepted the Lord Jesus Christ as your personal Lord and Saviour, don’t miss this great opportunity as you pray  this prayer: Lord Jesus; I confess that I am a sinner who needs to be saved through the grace of the New Testament in your Blood, shed on the Cross at Calvary; I renounce every sin in my life and accept you as my Lord and personal Saviour. Please forgive me and write my name in the Book of Life. Amen. If you prayed this prayer, you have been admitted into the family of sons and daughters of God, who are born-again. Congratulations!

I am yours sincerely, THE WATCHMAN Dr. David B.A. Olufon, Resident Pastor and Editor. 08130669886, 08058436756. g-mail-dvdolufon@gmail.

JUSTICE & MERCY FOR SANUSI LAMIDO SANUSI II AT LAST!

ZION B-BC

 NEWSLETTER.   

 

 A Publication of the Zion Faith Bible-Believing Church Kpeyegyi Abuja Nigeria.  {Vol. 13. NO 563. 26th May 2024} “…ONLY The Truth, Will Set You Free! (John.8:32).  PRAY & FAST EVERY WEDNESDAY TO STOP BLOODSHED IN NIGERIA!

 

JUSTICE & MERCY FOR SANUSI LAMIDO SANUSI II AT LAST!

The reinstalled Emir of Kano, Muhammadu Sanusi Lamido Sanusi II has travailed in spite of orchestrated political/traditional debacles of over four years!

Having confronted President Goodluck Jonathan as Central Bank Governor over 

a missing tranche of USD$20 billions  which could not be traced to the Apex institution he was sacked due to his outspoken criticism of the government's financial practices and his allegations of missing oil revenue amounting to billions of dollars. His removal was seen as a response to his whistleblowing activities and his clashes with the government.

However his popularity did not diminsh as the people chose him to take over the vacant stool of Emir until the State Governor deposed him and sent him packing in 2020!

After Four Years of exile God's Mercy & Justice prevailed when he triumphantly drove into Kano City triumphantly with pomp and pageantry to occupy his rightful place as the authentic Emir of the ancient City of Kano on 23 May 2024 accompanied by  new Governor, his Deputy and Speaker of State House of Assembly!

HISTORICAL EXCERPTS FROM WIKIPEDIA :

Muhammadu Sanusi II, CON spent most of his reign advocating for cultural reform in Northern Nigeria. In 2020, he was dethroned by Governor Abdullahi Umar Ganduje and was succeeded by his cousin Aminu Ado Bayero. On 23 May 2024, Governor Abba Kabir Yusuf reinstated him to the throne making him the 16th Fulani emir of Kano.

Prior to his accession, Sanusi was an Islamic intellectual, academic, political economist and banker. He served as the Governor of the Central Bank of Nigeria from 2009 to 2014, ushering in banking reforms until his suspension after he brought to light the $20 billion oil scandal.

Family

Sanusi was born on 31 July 1961 in Kano to a ruling class Fulani family of the Sullubawa clan. He grew up in the palace of his great-uncle Ado Bayero, who reigned for over five decades. His father, Aminu Sanusi, was a prince and diplomat who served as the ambassador to Belgium, China and Canada, and later permanent secretary of the Ministry of Foreign Affairs. He was also the Chiroma of Kano and son of Muhammadu Sanusi I, who was the 11th Fulani Emir of Kano from 1953 to 1963, when he was deposed by his cousin Sir Ahmadu Bello.

Banking

In 1985, Sanusi began his banking career when he was hired by Icon Limited (a subsidiary of Barings Bank and Morgan Guaranty Trust) – as a merchant banker before later becoming head of financial services and manager of the office in Kano. He left the bank in 1991, when he travelled to Sudan, to pursue studies in Arabic and Islamic studies at the International University of Africa in Khartoum. In 1997, he returned to Nigeria and joined the United Bank for Africa working in the credit and risk management division – he rose through the ranks to the position of general manager. In 2005, Sanusi became a board member and executive director in charge of risk management at First Bank of Nigeria – Nigeria's oldest bank, and one of Africa's largest financial institutions. In January 2009, Sanusi became the chief executive officer, becoming the first northern Nigerian to head the bank.

On 1 June 2009, Sanusi was nominated as Governor of the Central Bank of Nigeria by President Umaru Musa Yar'Adua; his appointment was confirmed by the Nigerian Senate on 3 June 2009, during the global financial crisis. In Nigeria, the effect of the crisis took a hit at the economy and the banking system, with the stock market collapsing by nearly 70%. It was amidst this crisis that Sanusi led the central bank in rescuing top tier banks with over ₦600 billion of public money, dismissing and imprisoning chief executives who had mismanaged customer deposits – and strictly dealing with banks found responsible for financial crimes. Sanusi attributed the crash in the capital markets to "financial illiteracy" on the part of Nigerian investors. He also introduced a consolidation process which reduced the number of Nigerian banks through merger and acquisitions, in a bid to make them stronger and more accountable to depositors. He also led efforts in increasing the level of investment in infrastructure and support for small and medium enterprises.

Sanusi's tenure initiated several extensive banking reforms termed the "Sanusi Tsunami". The reforms were built around four pillars: enhancing the quality of banks, establishing financial stability, enabling healthy financial sector evolution and ensuring the financial sector contributes to the real economy. Sanusi developed the cashless policy – whereby financial transactions are not conducted with money in the form of physical banknotes or coins, but rather through the transfer of digital information (usually an electronic representation of money) between the transacting parties; he also introduced and supported the establishment of Islamic banking in Nigeria, a move which was criticized by the Christian Association of Nigeria. He also clashed with the National Assembly, over its budgetary spending of 25% of all government revenue; and rejected the International Monetary Fund insistence for currency devaluation. He also advised the government on the removal of the fuel subsidy, which he argued engendered a culture of high level corruption and economic inefficiency – the removal of the subsidy was unpopular and led to the Occupy Nigeria movement, which called for his resignation.

His reforms received both criticism and appraisal from the industry. The Banker magazine recognised him as the 2010 Central Bank Governor of the Year, for his reforms and leading a radical anti-corruption campaign in the sector – the first of its kind during the financial crisis. Sanusi is widely recognized for pacifying the overtly corrupt banking industry and his contribution to a risk management culture in Nigerian banking. Sanusi has spoken at a number of international events including the 2013 World Economic Forum. In December 2013, Sanusi in a leaked letter to President Goodluck Jonathan revealed that the Nigeria National Petroleum Corporation (NNPC) failed to remit US$48.9 billion of government oil revenue to the central bank – the NNPC has a history of financial irregularities and oversees the corrupt petroleum industry in Nigeria. In February 2014, after a series of public investigations and raising the alarm on the US$20 billion NNPC scandal, Sanusi was suspended as Governor of the Central Bank of Nigeria by President Goodluck Jonathan. In April 2014, he won a court case against the federal government, after he was detained and his international passport confiscated by the State Security Service.

NOW THAT THIS CHILD OF PROVIDENCE IS BACK ON THE THRONE OF HIS FOREFATHERS......

All Kano citizens/residents should support his fresh ideologies to make up for the masses of "Talkawas" and draw from the wealth  of inspiration bequeathed by late Alhaji Aminu Kano for his legacies to thrive.

Congratulations to the new King....long live the King!

[EXPECT A PRIME MINISTER IN NIGERIA NOW!]

Please look forward to more divine revelation in the next edition of Zion B-BC Newsletter as you share this with friends and remain blessed in the Lord. [For weekly access, to this newsletter, log on to:  facebook.com/zionfaithbible.believingchurch or http://www.zfbbc1.blogspot.com,

Please look forward to divine revelations in  The Sure Word Gospel Tracts, Our divinely inspired books on the Amazon KINDLE Store Namely: The Unbroken Chain of Grace, Nigeria’s Pot Pourri (Volumes 1-5), Godly Politicking For World Peace,  and The Wedding Mascot Died

If you have not accepted the Lord Jesus Christ as your personal Lord and Saviour, don’t miss this great opportunity as you pray  this prayer: Lord Jesus; I confess that I am a sinner who needs to be saved through the grace of the New Testament in your Blood, shed on the Cross at Calvary; I renounce every sin in my life and accept you as my Lord and personal Saviour. Please forgive me and write my name in the Book of Life. Amen. If you prayed this prayer, you have been admitted into the family of sons and daughters of God, who are born-again. Congratulations!

I am yours sincerely, THE WATCHMAN Dr. David B.A. Olufon, Resident Pastor and Editor. 08130669886, 08058436756. g-mail-dvdolufon@gmail.

"IT IS EASIER FOR A CAMEL TO PASS THROUGH THE NEEDLE 'S EYE....."

ZION B-BC

 NEWSLETTER.

 

A Publication of the Zion Faith Bible-Believing Church Kpeyegyi Abuja Nigeria. {Vol. 13. NO 562. 19th May 2024} “…ONLY The Truth, Will Set You Free! (John.8:32). PRAY & FAST EVERY WEDNESDAY TO STOP BLOODSHED IN NIGERIA!

"IT IS EASIER FOR A CAMEL TO PASS THROUGH THE NEEDLE 'S EYE....."

It has always been the norm in Nigeria for the rich to get richer and the poor to get poorer whether in a military or civilian government! But the baffling aspect to the loop sidedness of that scenario is that those rich would never share the illicit acquisition with the drawers of water and hewers of wood of the society from which the magnanimous loot was acquired!

The following biblical innuendo should lend credence to the preceding narrative:

THE POOR MAN'S EWE LAMB FOR SUPPER!

2 Samuel 12:1-7

[1]And the LORD sent Nathan unto David. And he came unto him, and said unto him, There were two men in one city; the one rich, and the other poor.

[2]The rich man had exceeding many flocks and herds:

[3]But the poor man had nothing, save one little ewe lamb, which he had bought and nourished up: and it grew up together with him, and with his children; it did eat of his own meat, and drank of his own cup, and lay in his bosom, and was unto him as a daughter.

[4]And there came a traveler unto the rich man, and he spared to take of his own flock and of his own herd, to dress for the wayfaring man that was come unto him; but took the poor man's lamb, and dressed it for the man that was come to him.

[5]And David's anger was greatly kindled against the man; and he said to Nathan, As the LORD liveth, the man that hath done this thing shall surely die:

[6]And he shall restore the lamb fourfold, because he did this thing, and because he had no pity.

[7]And Nathan said to David, "Thou art the man"!

Plan to spend N20 Trillion Pension Fund of Hardworking Nigerians, Atiku tells Tinubu

QUESTION.

IS ATIKU - OWNER OF INTEL (A PRIVATE AGENCY WHICH COLLECTS PORTS DUTIES ON BEHALF OF FEDERAL GOVERNMENT) NOW A WHISTLE BLOWER)

May 15, 2024 . NEWS BY SAHARA REPORTERS.

According to Edun, the government is focused on tapping into domestic financial resources, particularly pension and life insurance funds, to leverage local funds for national growth. Former Vice President Atiku Abubakar has raised some concerns about President Bola Tinubu administration's plan to tamper with the N20 trillion pension funds to finance critical infrastructure projects across the country.

The Coordinating Minister for the Economy and Minister of Finance, Wale Edun, on Tuesday, after the Federal Executive Council (FEC), announced that the government had unveiled a strategic plan to harness the N20 trillion pension fund and other locally available resources for infrastructure development in Nigeria.

According to Edun, the government is focused on tapping into domestic financial resources, particularly pension and life insurance funds, to leverage local funds for national growth. He added that it was a significant step towards driving economic progress and addressing critical infrastructure needs.

Reacting to the statement, Atiku, a former presidential candidate of the Peoples Democratic Party (PDP), described the news as disturbing. He said the move must be halted immediately. He insisted that it was a misguided initiative that could lead to disastrous consequences on the lives of Nigeria’s hard-working men and women who toiled and saved and now survive on their pensions after their retirement from service.

Atiku who took to his X (formerly Twitter) account to voice his concerns, wrote: "My attention is drawn to a disturbing disclosure by the Finance Minister and Coordinating Minister of the Economy, Wale Edun, as he addressed State House correspondents after the Federal Executive Council (FEC) meeting at the Presidential Villa on Tuesday, 14 May. 

"There is, according to the Minister, a move by the Federal Government to rev up economic growth by unlocking N20 trillion from the nation’s pension funds and other funds to finance critical infrastructure projects across the country. The Minister has indicated that although "the initiative is expected to attract foreign investment interest over time", domestic savings are his ‘immediate focus’ for now.

"He provided no useful details, such as the percentage of the funds to be mopped up from the Pension Funds, for example. Even at that, this move must be halted immediately! It is a misguided initiative that could lead to disastrous consequences on the lives of Nigeria’s hardworking men and women who toiled and saved and who now survive on their pensions having retired from service.

"It is another attempt to perpetrate illegality by the Federal Government. The government must be cautioned to act strictly within the provisions of the Pension Reform Act of 2014 (PRA 2014), along with the revised Regulation on Investment of Pension Assets issued by the National Pension Commission (PenCom)."

He warned the government not to act contrary to the provisions of the extant regulation on investment limits to wit: "Pension Funds can invest no more than 5% of total pension funds’ assets in infrastructure investments. I note that as of December 2023, total pension funds assets were approximately N18 Trillion, of which 75% of these are investments in FGN Securities". He said, “There is no free Pension Fund that is more than 5% of the total value of the nation’s pension fund for Mr Edun to fiddle with.

“There are no easy ways for Mr Edun to address the challenges of funding infrastructure development in Nigeria. He can’t cut corners. He must introduce the necessary reforms to restore investor confidence in the Nigerian economy and to leverage private resources, skills, and technology.”

BEFORE TINUBU - THERE WAS BUHARI!!

The quest to raise money by hook or Crook is a Continuum in APC government from 2015 to 2024! After exhausting paper money printing through WAYS AND MEANS option, Buhari visited all DORMANT ACCOUNTS in the various Commercial Banks to mop up all idle monies including those of DEAD CUSTOMERS to pay multiple DEBTS!

 MUST IT BE THE RICH ALL THE TIME?

And whereas they all have monies illicitly raked from the system and stashed away in foreign accounts in Panama, Bahamas, USA, Britain etc.

Was it not high time they repented and for once support the clarion call for ONE HOUSE PARLIAMENTARY SYSTEM FOR GRASS ROOTS POLITICS which would enable the POOR CITIZENS TO GOVERN THEIR COUNTRY WITH THE PRIME MINISTER OF THEIR CHOICE TO THE SHAME OF THE MONEY BAGS?

Although Edun recanted the unpopular, unthoughtful and selfish Pensions Fund Barefaced Robbery, he should go a step further to apologize to the over 133 multi- dimensional poor masses and confess the failure of the "KALOKALO" (money gulping) Presidential System!

It is never too late to repent because The Almighty God does not want the death of sinners!

[EXPECT A PRIME MINISTER IN NIGERIA NOW!]

Please look forward to more divine revelation in the next edition of Zion B-BC Newsletter as you share this with friends and remain blessed in the Lord. [For weekly access, to this newsletter, log on to: facebook.com/zionfaithbible.believingchurch or http://www.zfbbc1.blogspot.com,

Please look forward to divine revelations in The Sure Word Gospel Tracts, Our divinely inspired books on the Amazon KINDLE Store Namely: The Unbroken Chain of Grace, Nigeria’s Pot Pourri (Volumes 1-5), Godly Politicking For World Peace, and The Wedding Mascot Died

If you have not accepted the Lord Jesus Christ as your personal Lord and Saviour, don’t miss this great opportunity as you pray this prayer: Lord Jesus; I confess that I am a sinner who needs to be saved through the grace of the New Testament in your Blood, shed on the Cross at Calvary; I renounce every sin in my life and accept you as my Lord and personal Saviour. Please forgive me and write my name in the Book of Life. Amen. If you prayed this prayer, you have been admitted into the family of sons and daughters of God, who are born-again. Congratulations!

I am yours sincerely, THE WATCHMAN Dr. David B.A. Olufon, Resident Pastor and Editor. 08130669886, 08058436756. g-mail-dvdolufon@gmail.