News
Dollar value of Peter Obi’s investment for Anambra now US$3.7million or US$5.3 million depending on exchange rate
By Chioma Anyagafu
Given the repeated fake news about the current dollar value of the investment by the Peter Obi administration in SABMiller, it has become imperative to clarify the matter in public interest.
The Peter Obi Administration invested the sum of N1,955,535,247.00 (equivalent of approximately US$12,616,356.43 at the then average CBN exchange rate of N155.00/$1.00) in Intafact Beverages Limited, a green-field brewery being set up in Onitsha by SABMiller Breweries of South Africa in 2012. The Naira equivalent of this investment is stated and carried in the Reports of the State Accountant General with the Financial Statements for the fiscal years ended 31st December since then. These are public documents.
According to Ifeatu Onejeme, Commissioner of Finance, Intafact Beverages was subsequently consolidated into International Breweries Plc when the parent company, SABMiller of South Africa was acquired by Anheuser-Busch InBev (AB InBev), the world’s largest brewer. Based on this development, AB InBev consolidated and merged all its brewery operations in Nigeria under International Breweries Plc and all shareholders of Intafact Beverages Limited, including Anambra State Government (ANSG), received shares of International Breweries Plc for their respective investments.
ANSG received and still holds 407,321,264 ordinary shares of International Breweries Plc in exchange for its investment in Intafact Beverages Limited . Based on the NGX closing price of N5.50 as at 20/6/22, these shares were valued at N2,240,266,952 on that date. Based on the Central Bank of Nigeria I&E exchange rate of N415.75/US$1.00 on same June 20, 2022, this investment was valued at an equivalent of approximately US$5,388,495.37 (and at N604/$1.00 parallel market rate, only US$3,709,051.24).
We do not want to join issues with the purveyors of the fake news but only need to state the facts to inform the public.
Discover “ṢÓ O GBỌ́LÙ”, an interactive program by Prince Adewale Laoye that showcases the cultural ties between Yoruba drums and language
Prince Adewale Laoye has unveiled an innovative online programme, **“ṢÓ O GBỌ́LÙ”**, aimed at preserving Yoruba cultural heritage by spotlighting the unique connection between the Yoruba language and traditional drums, particularly the Dundun, or talking drum.
This initiative highlights how Yoruba drums replicate speech through tonal patterns, a feature intrinsic to the Yoruba language. “Our drums, especially the Dundun, perfectly imitate Yoruba tones.
They are not just instruments but vital communication tools,” explained Prince Laoye, a respected cultural advocate.
The Dundun drum, central to the programme, is celebrated for its ability to convey messages woven into Yoruba proverbs and idioms.
The programme’s goal is to inspire renewed interest in Yoruba heritage by blending music, language, and education.
**Interactive Features of “ṢÓ O GBỌ́LÙ”**
Participants can access episodes on Aafin Ilu’s social media pages and YouTube channel, engaging with content that challenges them to interpret the drum’s tonal messages. Special prizes await those who decode the speech patterns correctly.
Typical questions posed include:
– “Can you hear the speech of Ayan (the drummer)?”
– “Do you understand the drum’s language?”
– “Can you interpret Yoruba proverbs conveyed through drum tones?”
Prince Laoye views this programme as a cultural revival movement. “So o gbo’lu is more than a programme; it’s a call to action. Let’s celebrate and preserve Yoruba culture together,” he said.
**How to Get Involved**
The programme is open to anyone keen on exploring Yoruba traditions. Episodes are regularly released on Aafin Ilu’s platforms.
Followers can directly engage by answering questions and decoding drum messages, fostering a fun and educational experience.
For updates and participation, follow Aafin Ilu on social media or subscribe to their YouTube channel.
Joseph Aloba, father of late singer Mohbad, reveals his life improved significantly after his son’s passing, attributing it to divine help
Joseph Aloba, the father of late Nigerian singer Mohbad, has shared how his life has seen a remarkable improvement since the tragic passing of his son in September last year.
Speaking in an interview with media personality Akin Abolade, Aloba expressed gratitude for the unexpected blessings he has received, which he credits to the combined influence of Mohbad’s spirit and God.
In the emotional interview, Aloba revealed that Mohbad had made significant plans to support him, but these ambitions remained unfulfilled due to unforeseen circumstances before the singer’s untimely death.
However, he stated that since Mohbad’s passing, he has experienced an outpouring of support from well-wishers who have provided him with essential items, including a car.
“Let me just say yes, my life got better after Mohbad’s death because he is my friend. He had it in plan to do many things for me, but they didn’t allow him to do them,” Aloba explained.
“After his death, it was the spirit of Mohbad, and that of God combined together that began to send people to assist me. Even the car and everything I have now, it was people that gave them to me, and it is beyond ordinary.”
Reflecting further, Aloba noted that the assistance he now receives mirrors the intentions his son had for him. He added, “Those were the things he was meant to be doing for me, but they didn’t allow him to do them.”
The late Mohbad, born Ilerioluwa Oladimeji Aloba, passed away under mysterious circumstances in September 2024, leaving fans and the Nigerian music industry in mourning. Investigations into the cause of his death remain ongoing, with many still seeking answers.
Kogi State Governor Usman Ododo ends the controversial tax clearance policy, ensuring students’ education rights remain protected
Kogi State Governor, Alhaji Usman Ododo, has ordered an immediate halt to the policy requiring parents to present Tax Clearance Certificates (TCC) for their children’s enrollment in state-owned tertiary institutions.
This decision follows public outcry and protests led by civil society groups, who argued that the policy infringed upon the right to education.
Announcing the directive during a media briefing in Lokoja, the Chairman of the Kogi State Internal Revenue Service (KGIRS), Alhaji Sule Enehe, stated that the move reflects the governor’s commitment to accessible education.
“The governor responded swiftly to public concerns, emphasizing that education must remain accessible to all Kogi State students,” said Enehe.
The policy, introduced to encourage tax compliance, drew criticism for potentially denying access to education for students whose parents were unable to provide TCCs.
With the directive now revoked, students can register and gain admission without the previously mandated requirement.
Enehe, however, reminded residents of their constitutional duty to pay taxes, noting that non-compliance could restrict access to benefits such as bursary allowances.
He added, “Parents must play their part by paying taxes to support state education and other social amenities.”
Highlighting further reforms, Enehe disclosed that KGIRS has ramped up efforts to eliminate illegal tax practices. Since the crackdown began, 43 illegal tax collectors have been prosecuted, while several corrupt staff members have been dismissed.
To streamline operations, the revenue service has digitised tax payment systems, allowing individuals and businesses to fulfil their obligations more efficiently.
KGIRS reported steady revenue growth in recent years, with collections rising from ₦17 billion in 2021 to ₦27.7 billion in 2024.
The service has set an ambitious target of ₦35.1 billion for 2025, aiming to sustain the state’s developmental initiatives.
Governor Ododo’s administration continues to prioritise education, as seen in the establishment of three state-owned universities.
The governor’s directive aligns with the broader goal of ensuring that financial barriers do not hinder educational access for Kogi State students.
This decisive action signals the government’s resolve to balance tax compliance with the constitutional right to education, fostering both development and inclusivity.
Yoruba heritage revived: Prince Adewale Laoye launches “ṢÓ O GBỌ́LÙ” online program
Osun West APC leaders push for governorship ticket in 2026
Father of late singer Mohbad credits improved life to divine, spiritual assistance
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