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Ohanaeze Raises Alarm As Splinter Group Emerges, Alleges Plot To Destabilize Igbo



ohanaeze ndigbo

A splinter group, comprising young men, has emerged within the apex Igbo socio-cultural organisation Ohaneze Ndigbo.

The new group led by one Basil O. Onuorah announced that it had already been registered by the Corporate Affairs Commission with the traditional ruler of Igbariam in Anambra State, Igwe Kelly N. Nzekwe, as its Board of Trustees Chairman.

But the mainstream Ohanaeze Ndigbo described the splinter group, known as Ohanaeze Ndigbo General Assembly (ONGA), as embarking on the path of destabilization of the Igbo.

Igwe Nzekwe, who claimed to be one of the founders of Ohaneze Ndigbo in 1976, said in Awka at the weekend, that the mainstream socio-cultural organisation had become a political tool in the hands of some greedy politicians.

Lamenting that the development had led to lack of confidence in the affairs of Ohanaeze Ndigbo, Nzekwe called on the Igbo to join hands to make their land great again.

He said: “I am glad to announce to the general public today (Saturday) that Ohanaeze Ndigbo General Assembly is now registered with the Corporate Affairs Commission with the RC NO: 144918.

“Ohanaeze Ndigbo General Assembly is not a factional Ohanaeze but the main Ohanaeze Ndigbo which is being restructured to exist legally as a lawful organisation, to represent the interest of Ndigbo and be accountable to our people.

“It is now the turn of Ndigbo to produce the next President of Nigeria come 2023. All political parties in Nigeria should take note.”

However, Ohanaeze Ndigbo, warned the group to stop its destabilization plot as the Igbo are now more united than before..

It reminded members of the new group that it was fool-hardy for them to think they could lure Igbo leaders like Obi of Onitsha, Alfred Achebe, a former Governor of Anambra State, Dr Chukwuemeka Ezeife, and Prof Ben Nwabueze (SAN) from Ohanaeze Ndigbo to key into their plans.

President of Ohaneze in Anambra State, Chief Damian Okeke -Ogene, who spoke for the Nnia Nwodo-led Ohanaeze Ndigbo, also said the South-East was too large for them to deceive.

Describing the group members, who are mostly young people, as “jokers,” Okeke -Ogene, said they are merely being used by some politicians to cause disaffection in Igbo land.

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CBN Asks Senate For Power To Freeze Criminals’ Accounts



The Central Bank of Nigeria (CBN) has approached the Senate to grant it powers to freeze accounts linked to criminals.

The CBN made the appeal on Wednesday at a Senate Committee public hearing on its Bill for an Act to repeal the Banks and Other Financial Institutions Act (BOFIA) 2004 and re-enact the Banks and Other Financial Institutions Act 2020.

The CBN, represented at the hearing by the Director Legal Services, Mr. Kofo Salam-Alada, proposed to the Senate to reinstate the powers of the CBN Governor “to apply to the court for orders to freeze accounts which are deemed to be linked with criminal and other civil infractions.”

He lamented that this power was omitted in the Bill.

The apex bank also wants legislation for the Creation of Credit Tribunal to address the issue of non-performing loans.

According to Kofo Salam-Alada “as part of measures to address the role of non-performing loans, we propose the creation of a Credit Tribunal.

“The overarching objective is to create an efficient regime for the recovery of eligible loans of banks and Other Financial Institutions (OFls) and enforcement of rights over collateral securities.”

Salam-Alada noted the powers of the CBN to intervene in the process of managing a failing bank and reinstatement of a bank in a grave situation and bring it back to sound financial health was omitted in the Bill.

This omission, he told the Senate, “erodes the powers of the CBN and creates a huge gap in the regulatory and resolution framework. Therefore, we propose that the extant provisions should be reinstated.”

With regards to the administration of Dormant Accounts in Deposit Money Banks, the CBN is asking for the “inclusion of provisions to improve the administration of dormant accounts in the Nigerian banking sector.”

The provisions, Salam-Alada, said: “should address such requirements as the criteria for determining dormancy, the processes for managing the funds in dormant accounts and procedure for reclaiming funds by beneficiaries.”

The CBN equally wants more powers to resolve failing banks and manage systemic crisis without recourse to the public treasury. According to Salam-Alada, “in line with international best practices we recommend the establishment of a resolution fund to pool resources for managing banking sector distress.”

Central Bank of Nigeria is also asking for the adoption of additional resolution tools such as bail-in (ensuring that losses are absorbed by shareholders and creditors), sale of business (allowing the resolution authority to sell all or part of the failing bank to a private acquirer) and asset separation (isolating the “bad” assets of the bank in an asset management vehicle for orderly wind down, if immediate liquidation is not justified in current market conditions).

Addressing the Senate Committee as well, the Managing Director of the Nigeria Deposit Insurance Corporation (NDIC) Alhaji Ibrahim Umar said the Bill for a repeal of BOFI Act and its re-enactment by the committee on banking, insurance and other financial institutions was an appropriate step to take in the face of current challenge facing the economy.

Going forward, the NDIC and Central Bank, he said, are partners working for an efficient and healthy banking system. “We agree to disagree with CBN on certain issues. The two institutions have come a long way on shared responsibilities” he said.

NDIC’s Director, legal department Mr. Bellema Taribo sought the Senate’s support to recognize NDIC along with CBN as co- regulators since NDIC is already a co-supervisor of banks with the CBN.

He pleaded to the Senate for legislation to tackle insider abuse dealings in banks.

He dismissed the clamour for the appointment of another liquidator for banks insisting that the NDIC is the sole liquidator of banks.

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JUST IN: Suspended EFCC Boss, Magu Breaks Silence After Release From Detention



EFCC Chairman, Ibrahim Magu

Suspended Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has opened up on his travails while in detention.

The embattled EFCC Boss asked Nigerians not to give up on the fight against corruption.

He said whether he is the chairman of EFCC or not, “Nigerians must own the war against corruption, which President Muhammadu Buhari is determined to eradicate.”

He said what he went through was “one of those risks of the job.”

He said all the allegations flying around were to tarnish his image and that of EFCC.

Magu, in an interview with THE NATION, said: “As for me, I will forever wage war against corruption. I urge Nigerians to continue to support the fight against corruption.

“They should not give up on the fight because corruption kills a nation faster than any other thing.

“It is not a personal fight. Whether I am EFCC Chairman or not, the anti-corruption war must continue.

“What I have gone through is a case of dog eats dog but I see it as one of those risks of the job. But we must not give up in any way.

On the allegations against him, he said: “They are nonsense. They are mere trump up allegations to tarnish my image and that of the EFCC. I did not steal or divert or convert funds to private use. I read the allegations and I was shocked.

“I thank Nigerians for their support, they should not be discouraged. I am happy to be back, I believe the war against corruption is winnable.”

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BREAKING: Suspended Acting EFCC Chair Magu Released From Detention



The suspended acting Chairman of the Economic and Financial Crimes Commission (EFCC) Ibrahim Magu, has been released from police detention.

Magu, who was invited on Monday last week by a presidential panel set up to investigate allegations of corruption against him, was released on Wednesday evening.

More details…

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