Justice Maryann Anenih granted him bail while ruling on his bail application over an alleged unlawful naira colour swap. The Economic and Financial Crimes Commission brought against him a – count amended charge bordering on disobedience to the direction of the law.

Anenih in addition, ordered two sureties in the like sum of ₦300 million who must have property in Maitama district of Abuja. The sureties, she said, must in addition present the title documents and certificates of occupancy (C of O) to the court for verification.

The sureties in addition must submit to the Registrar of the court their recent passport photographs. The judge further added that Emefiele should submit to the registrar of the court his travelling documents and must be within Abuja within the period of his trial.

The judge ordered the certified true copy (CTC) from Justice Hamza Muazu who granted him bail in the same conditions. He earlier held that bail is at the discretion of the court according to what was placed before it, however, according to the law.

He added that the offence of six counts of confinement of advantage on self attracted 5 years imprisonment as punishment.

He held that there was nothing in the prosecution’s submission that showed that Emefiele would abscond or would jeopardise an investigation or threaten the security of the country.

Kabir Tsukuwa, Commander of Narcotics (CN), NDLEA, FCT Command, said this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja.

Tsakuwa said that over 50 suspects had been prosecuted adding that out of the number, 12 had been convicted and sentenced to different jail terms. He said that the command had been going after the drug peddlers and the records were there to show from the arrest and seizure over the years.

“If not for the continuous effort of the agency and the command in particular, the drug situation in FCT and even the entire country would have been worst,” he said.

The NDLEA commander said that the current situation of drug abuse in the FCT was not a peculiar one as it was same world over. Tsakuwa said that drug abuse was a major concern to all countries of the world.

He said that all regional and global bodies like ECOWAS, EU and UNODC were advocating for global concerted efforts to deal with the challenge of drug trafficking and abuse. He said: “the drug situation varies from countries to countries, states to states and even localities.”

According to him, the command has maintained consistent raids of drug joints within the FCT, even though, that cannot be said to have been dismantled completely but it is a continuous process.

“There is no society that is crime free, not even the developed world.

“In 2023 alone, we arrested over 500 suspects with over 7,000kg of assorted drug seizure and conviction of over 200 offenders.”

Tsakuwa said that the issue of drug abuse was serious, adding that Nigerians must join in the continuous fight against the drug menace. He emphasised that there was a strong nexus between drug abuse and other criminalities like kidnapping, insurgency, theft, armed robbery among others.

“When drug abuse and trafficking is dealt with, the rise in other criminalities will certainly drop.

“Although, we have had cases where we carry out operations of drug joints, but the next minute, they are back again.

“Be that as it may, we shall continue to give in our best to ensure sustainable action in our efforts.

“We shall not rest until we achieve our desired goal of drug free environment in the Federal Capital,” he added

Oyetola said this during the stakeholders’ engagement with fishing trawlers held in Lagos on Tuesday.

The News Agency of Nigeria (NAN) reports that Oyetola was represented at the event by the Permanent Secretary, Ministry of Marine and Blue Economy, Oloruntola Olufemi.

He said that the ministry recognised the immense contributions of fish trawler owners to the Nigerian economy in providing fish food nutrition, job creation as well as economic growth.

Oyetola said that the meeting was to collectively chart the course in achieving sustainable development in the Marine and Blue Economy, as well as deepening the rapport between the government and the stakeholders in the fishing trawlers business.

He said that President Bola Tinubu had established the ministry and its Department of Fisheries and Aquaculture to facilitate trade with their presence signifying growth as well as progress in the fisheries sector.

According to him, this gathering is the first since the establishment of the department in the ministry in 2024. Oyetola said that the vision of the ministry was to lead the fisheries and aquaculture toward a prosperous and sustainable future.

“Fisheries and aquaculture is a key component of the Marine and Blue Economy which is the focus of the ministry action plan.

“This is an opportunity to chart the course and provide dialogue to bring innovative solutions and local capacities of Nigeria’s economy and the welfare of our people,” Oyetola said.

He urged the fishing trawler owners to collaborate with the ministry to finetune their operation in line with the seminar sponsored by the African Union held recently in Abuja. He said that the target of the Ministry was to invest and finetune the framework to allow the enterprise to flourish.

The President of the Fishing Trawlers Association of Nigeria (FTAN), Ben Okonkwo, said the nation’s fisheries sub-sector was operating with a turnover of between 80 million dollars to 100 million dollars business per annum. She said that the association was established under a unified body in 1986.

“The association started with a new Menvera company, which later increased the number to 25 companies.

“Before the Association nosedived, we had about 250 boats, with over 100,000 workers across the board.

“At one point business nosedived due to the rise in pirate attacks, difficulties in accessing forex transactions and procurement of diesel.”

The Managing Director of Karflex Fisheries, Mareenna Samuel, lamented the numerous challenges facing the fishing trawlers in Nigeria, adding that they were doing business with tears due to the non-accessibility of foreign currency.

“Automobile Gas Oil (AGO) costs almost ₦1,450 per litre and when our vessel goes for about 50 days. We sail our vessels using between ₦30 million to ₦35 million before now.

“Today, we sail our vessels between ₦140 million to ₦150 million; imagine the disparity; how much are we pushing to consumers?

“Nigeria has the best port in the world, every time you take a vessel on fishing after spending about ₦140 million to sail a vessel, you will realise N60 million and every time you lose ₦60 million in each container which is not encouraging.

“Government need to look into this because if we do not look for a solution now, the fishing business will go into extinction,” Okonkwo added.

The Managing Director of Atlantic Shrimpers Ltd., Kamiesh Kabra, said that about 10 years ago, the fishing business in Nigeria was among the top five in the non-oil sector.

“Fishing is facing a lot of changes as a result of the high cost of AGO, more than 50% of the business was tied up and if this situation persists, we are going to go down to the export list.”

A former executive of the Fishing Trawlers Association of Nigeria, Emma Nwgamah, said the high cost of diesel had made him go out of the shipping business.

In his contribution, the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dayo Mobereore, said the Marine and Blue Economy contributed a lot to the nation’s GDP.

He identified demand and supply as the challenges facing the industry, adding that the government was working towards creating a conducive atmosphere for stakeholders to flourish.

Mobereore said that the minister was committed to achieving a lot of progress in transforming the industry before the end of 2024 to enable practitioners to practice their business in the maritime space.

He argued that Western democracy has not been effective in Africa and has failed to deliver the expected results.

Instead, Obasanjo proposed an Afro-democracy governance system that would align with Nigerians’ and Africans’ cultural and traditional values.

Obasanjo said, “Our problems started from the colonial masters. They gave us what they have. So, now you are taking the right step. (Rishi) Sunak is a Prime Minister (UK) who has not been voted for. Even for them, liberal democracy is failing.

“Our constitution started on a faulty base. It’s a product of their culture and tradition. Western democracy has what is called opposition. They have loyal opposition because they are loyal to the monarchy. We had thriving Kingdoms. We rule ourselves with consensus. If you commit an abomination, you will be punished.

“Let us look at our lives. Our lives are characterised or symbolised by communalism. If we now come back home, we will get it right. You can call it Afro-democracy, not democracy of opposition. We can move and agree to the structure are we are going to put in place.”

His remarks came in response to a move by members of the House of Representatives to reintroduce the parliamentary system to reduce Nigeria’s high governance costs.

Obasanjo shared these views during a private meeting in Abuja with former President Goodluck Jonathan and some legislators led by Kingsley Chinda.

According to Arise TV, other lawmakers at the meeting include Abdussamad Dasuki, Olawale Raji, Kabir Ibrahim Tukura, Abdullahi El-Rasheed, Umar Yusuf Yabo, Abdulmaleek Danga, Esosa Iyawe, Aliyu Aminu Garu and Shehu Dalhatu.

Others are Ibe Okwara Osonwa, Muhammed Bello Shehu, Maureen Gwacham, Joshua Audu Gana, Blessing Amadi, Engr M.B Jajere, Afam Victor Ogene and Kwamoti Laori.

The group led by Hon. Kingsley Chinda has repeatedly protested against Nigeria’s high cost of governance, attributing it to the presidential system of government.

They argue this is the main reason for their push to change the current system.

Former President Obasanjo, expressing dissatisfaction with Western democracy, suggested a return to traditional African ways and advocated for a government system founded on ideology.

Obasanjo, however, warned the proponents of the parliamentary system of government that the project may not materialise now.