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Prepare for increase in prices of bread, bakers alert Nigerians
Bakers have alerted Nigerians that prices of bread and other floor-based food items would seeon go up.
The alert was raised by the President of Premium Bread-makers Association of Nigeria (PBAN), Engr. Emmanuel Onuorah in an exclusive, adding that the cost of production materials has risen following the withdrawal of fuel subsidy and the liberalization of the foreign exchange (forex) market by the federal government.
He said- “For us in the premium bread making, it is a mixed feeling laced with a feeling of déjà vu”.
He noted that most of the baking ingredients are import dependent, adding that the floating of forex has led to increase in the cost of clearing of the ingredients.
Onuorah said: “Most of our baking ingredients are import dependent; ranging from flour produced from wheat, Ascorbic Acid, Calcium Propionate, Yeast and bread softener. They are mostly imported. The forex floating led to increase in amount used for clearing; we know this will certainly lead to increase in prices of bread.
“The flour millers even wanted to use the forex floating as an alibi to increase the price of wheat flour; if they do that the price of bread would go up significantly because we would pass on the cost. With any increase in the price of bread now, there will certainly be more drops in sales and more bakeries will certainly close shop”.
On the impact of the fuel subsidy removal, he said: “We feel that the decision was hasty without a clear cut plan on how to mitigate the fall-out of the policy on businesses and Nigerians. The President announced the policy before thinking of how to manage the fall-out, more like putting the cart before the horse.
“The impact on my members was spontaneous because our workers were not able to afford the transport fare that spiked astronomically thereby impeding production due to unavailability of workers.
“Some of our members have delivery vans that use fuel; it spiked their cost of delivery which dovetailed into increased cost of production and reduced margins. Our distributors use delivery vans that use fuel likewise, it affected their sales with the attendant drop in our volumes.”
The bakers’ chief also added that “the imposition of 7.5% VAT on diesel by the new government, the price shot up immediately and this affected our production and sales negatively.”
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Breaking: EFCC investigates Pastor Jerry Eze over alleged money laundering
The Economic and Financial Crimes Commission, EFCC, has revealed that it investigated the founder of Streams of Joy International, Pastor Jerry Eze, for six months over suspected money laundering before clearing him.
Ola Olukoyede, chairman of the Commission, disclosed this on Wednesday while speaking at the Jerry Eze Foundation Business Grant Award Ceremony in Abuja.
According to him, the probe was triggered by intelligence reports and petitions after the commission observed large inflows of foreign currencies into the cleric’s domiciliary account.
“We work by intelligence, we work by petitions. At some point, I saw there was an account, a domiciliary account. Dollars, pounds were dropping in like raindrops, from Colombia, from America, from Sri Lanka, even from Togo.
“I said who is this man? Yes, I’ve been hearing about his name, I’ve seen his face a couple of times. I never bothered about what he was doing. I knew he was a pastor.
“So they said this one pastor of streams of joy, go and investigate him. So we went to the investigation. We combed the books,” Olukoyede stated.
The EFCC boss said he subsequently invited Eze for questioning after preliminary findings were compiled by investigators.
He added that upon meeting the cleric and reviewing the findings of the investigation, the commission found no wrongdoing.
“So he came to my office. He told me what happens and all of that, and how the money came, what he does, how he has been helping people, and all of that.
“I said, you know what, I didn’t call you here to explain to me. We have already done our work. I called you here to commend you,” he stated.
The remark drew applause from the audience, as Eze, who was present at the event, acknowledged the commendation.
He noted that the commission has a responsibility not only to investigate financial crimes but also to recognise individuals found to have acted with integrity.
The EFCC chairman, however, stated that the agency would continue to monitor financial activities where necessary, stressing that its preventive mandate remains critical in tackling corruption.
News
Court bars David Mark, others from interfering with functions, tenure of elected ADC state executives
The Federal High Court in Abuja on Wednesday restrained the Independent National Electoral Commission from recognising or participating in any congress organised by a disputed caretaker leadership of the African Democratic Congress.
The court, in a judgment delivered by Justice Joyce Abdulmalik, also barred former Senate President, David Mark, and other prominent figures in the party from interfering with the functions and tenure of elected state executives.
The ruling is the latest development in the festering leadership dispute within the ADC, with clear implications for the control of party structures ahead of future political activities.
The case arose from an originating summons filed by Norman Obinna and six others on behalf of state chairpersons and executive committees of the party.
The plaintiffs challenged the legality of actions taken by a caretaker or interim national leadership, particularly the move to organise state congresses through an appointed committee.
They argued that the caretaker body lacked constitutional authority to organise such congresses or to appoint any committee for that purpose.
According to them, only duly elected party organs recognised under the party’s constitution possess the power to conduct congresses.
The plaintiffs, therefore, asked the court to affirm the tenure of the state executive committees and restrain any parallel processes that could undermine their authority.
In resolving the dispute, Justice Abdulmalik held that the claims brought before the court were valid and deserving of judicial consideration, especially in view of alleged breaches of constitutional and statutory provisions.
She stated that she found “the issue in the originating summons meritorious”.
The judge framed the central issue as whether the second to sixth defendants, including Mark, had the constitutional or statutory authority to assume the powers of elected state organs of the ADC, whose tenure is guaranteed under the party’s constitution.
She relied on section 223 of the 1999 Constitution, which mandates political parties to conduct periodic elections based on democratic principles, as well as Article 23 of the ADC Constitution, which provides that national and state officers shall hold office for a maximum of two terms spanning eight years.
According to her, “the question is whether there is any infraction committed by Mr Mark and co-defendants when they convened meetings and appointed a body known as a congress committee to organise state congresses.”
On the defence raised by the defendants that the matter was an internal affair of a political party and therefore outside the jurisdiction of the court, the judge acknowledged the settled legal position but clarified its limits.
She held that while courts are generally reluctant to interfere in internal party matters, they will intervene where there is a clear allegation of violation of constitutional or statutory provisions.
“The law is settled that courts will not interfere. However, where there is an allegation of breach of constitutional or statutory provisions, the court has a duty to intervene,” she ruled.
“Where a party alleges that its constitution has been violated, the court is bound to adjudicate. Any argument that this court lacks jurisdiction on that basis fails,” she added.
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Nollywood veteran Hilda Dokubo emerges LP woman leader as party lifts suspension of 26 members
Hilda Dokubo, a veteran Nollywood actress, has been elected as National Woman Leader of the Labour Party (LP) after her months of suspension from the party was lifted by the National Working Committee, NWC.
Apart from Dokubo, the suspension of 25 other members was also lifted. They include Emmanuel Agida, Abayomi Arabambi, Ogar Osim, Muhammed Aliyu, Casmir Uchenna, Airen Igbinedion, Auwal Ahmed, and others.
The suspension was lifted on Tuesday during the national convention of the party held at the International Conference Centre, Umuahia, Abia State.
The decision to lift the suspension was taken through a voice vote by delegates from all states in attendance at the convention.
The chairman of the elective national convention, Ginger Onwusibe, announced the recall of the 26 members after a unanimous voice vote by the delegates.
Explaining the development, the newly elected National Chairman of the LP, Esther Nenadi-Usman, said the party followed the path of reconciliation and forgiveness.
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