Hello and welcome! In today’s trending news stories;
1. On Thursday, March 27, a Constitution amendment bill proposing a parliamentary system of government passed a second reading in the House of Representatives. Sponsored by Kingsley Chinda and 59 others, it seeks to establish the offices of Prime Minister and President as separate heads of government and state, respectively. Other advanced bills include removing immunity for vice presidents and governors, setting a 60-year age limit for presidential and gubernatorial aspirants, and requiring a bachelor’s degree. Critics, including the PDP and CUPP, argue Nigeria’s issues are rooted in corruption and incompetence, not age.
Additionally, the House considered bills mandating absolute majority votes for elections, expediting justice delivery, involving the National Assembly in treaty negotiations, increasing the number of justices, and establishing new local governments. Proposals for a national census every 10 years and establishing a University of Nigerian Languages were also discussed. While some support reforms, critics say competence and experience over age limits was more significant, advocating for live debates to assess leadership quality.
2. The Ijaw National Congress, Rivers State Elders, and Leaders Council, along with the Ijaw Youth Council, have condemned Vice Admiral Ibok-Ete Ibas (retd.) for suspending Governor Siminalayi Fubara’s appointees in Rivers State, describing the action as illegal and unconstitutional. The groups claim that Ibas’ appointment as sole administrator by President Bola Tinubu is unlawful, lacking constitutional backing, and designed to facilitate the looting of state resources.
Critics argue that Tinubu’s state of emergency is an attempt to undermine Rivers State’s governance, allegedly orchestrated by former Governor Nyesom Wike. Meanwhile, the Nigerian Labour Congress in Rivers has threatened strikes over unpaid salaries, and a coalition of civil society organizations has petitioned the UN, seeking sanctions against Nigeria if democratic governance isn’t restored. However, the APC Chairman in Rivers State, Tony Okocha, defends Tinubu’s declaration, claiming it prevented anarchy. The PDP Governors Forum plans to challenge the state of emergency declaration in court.
3. President Bola Tinubu has expressed condolences to Mrs. Florence Ajimobi over the death of her daughter, Mrs. Bisola Kola-Daisi. In a statement by his Special Adviser, Bayo Onanuga, Tinubu praised Mrs. Kola-Daisi’s contributions as a successful businesswoman and public servant known for her wisdom in budgeting and finance. He prayed to her husband, family, and friends, wishing them comfort and strength, while asking God to grant her eternal rest. The passing has drawn widespread condolences from associates and loved ones.
4. According to its audited financial report, Zenith Bank reported a 52.6% net profit growth in 2024, reaching a record N1 trillion. Despite sharp increases in Nigeria’s monetary policy rate, the bank’s interest income more than doubled to N2.7 trillion, making up 68.5% of its total revenue of N4 trillion, up from N2.1 trillion. The net interest income increased by 134.8%, while the lender provisioned N658.8 billion for high-risk loans due to inflation and debt service burdens. Trading gains surged by 94% to N1.1 trillion, and fees and commissions rose to N206.9 billion from N109.3 billion. Operating expenses jumped to N586.6 billion from N291.7 billion, mainly due to higher fuel and maintenance costs.
Total assets increased to N30 trillion from N20.4 trillion, while pre-tax profit grew by 66.7%. Zenith Bank announced a final dividend of N4 per share, bringing its total for the year to N5 per share and amounting to a N205.3 billion payout. The bank raised N162.1 billion through a public offering and N188.4 billion via a rights issue, aimed at scaling its core capital to at least N500 billion by March 2026, per Central Bank of Nigeria’s requirements. Challenges included a N30 billion pre-tax profit decrease from its Ghanaian operations due to hyperinflation.
5. TikTok influencer Habeeb Hamzat, known as Peller, has clarified his comments on the trending “30-day rant challenge” after facing backlash for appearing to discourage Nigerians from venting on TikTok. Responding on Instagram, Peller said his statements were misunderstood and not intended to mock the challenge or protect his TikTok income. He explained that his comments were taken out of context, noting that many TikTok creators, not just himself, earn from the platform. Peller urged Nigerians to understand that his intention was not to silence their frustrations but to avoid actions that could prompt the government to ban TikTok entirely.
The “30-day rant challenge” emerged as Nigerians, frustrated by economic hardship under President Tinubu’s administration, voiced their grievances online. Peller’s earlier remarks suggesting that people should rant on other platforms or in public instead of TikTok sparked mixed reactions. Some criticized him as insensitive and self-centered, while others supported his cautionary stance. Prominent activist Deji Adeyanju also criticized Peller, arguing that he had no right to dictate how Nigerians express their frustrations.
