On Friday the Supreme Court said all allegations raised by the PDP and Atiku Abubakar, challenging President Buhari’s victory at the 23 February presidential election were unproven. While explaining the reasons it dismissed the PDP’s appeal against the 11 September decision of the Court of Appeal that upheld Buhari’s re-election in February, the Supreme Court added that the PDP and its presidential candidate should have presented 250,000 witnesses before the 2019 election tribunal to prove its case. Abubakar and his party had approached the apex court after the Court of Appeal dismissed its petitions in September. It asked the court to give further interpretation to its claims against Mr Buhari’s qualifications to contest the election. A seven-member panel of the apex court ruled against the appeal on 30 October, describing it as lacking in merit. The Supreme Court said there were two main issues seeking interpretation regarding the PDP’s petition; an alleged non-compliance to the Electoral Act, and issue related to the question of whether or not Buhari qualified to take part in the election. Justice John Okoro who joined two other panellists to explain the court’s decision said, regarding the allegations of non-compliance, that the PDP had a responsibility, not only to provide witnesses but to do so sufficiently to support its allegations. As agreed by parties at the tribunal, the PDP was given 10 days to call its witnesses, while the other parties had six days each to do the same. The PDP called 62 witnesses before closing its case on 19 July. The petitioners had 180 days from the date of filing the petition, to have all the complaints heard and a judgement reached at the tribunal.
Data on petroleum products import and consumption from the NBS has shown that petrol importation in Nigeria dropped by 512 million litres between June and September. The country imported 5.09 billion litres of petrol as against the 5.6 billion litres imported in Q2 2019, while 429.38 million litres of LPG were imported in Q3 compared to the 354.7 million litres imported in Q2 2019. The breakdown of the data showed that the country consumed 4.9 billion litres of petrol in Q3 2019, compared to the 5.18 billion litres consumed in Q2. This indicates a decrease of 1.09 billion litres in consumption in 3 months. The volume of petrol imported into the country in September stood at 1.46 billion litres, dropping from 1.64 billion litres in August and 1.99 billion litres in July 2019. The importation of petrol reduced by 9.13 percent, while the importation of LPG increased by 21 percent.
INEC declared 30 of its staff missing early Sunday during the final collation of results in Olamaboro LGA of Kogi state. The ad-hoc staff took part in Saturday’s governorship election in the state and were posted to Olamaboro by INEC. The missing INEC staff include Presiding Officers and Assistant Presiding Officers of polling units in Imane ward 1 and 2 of the local government. Many of the ad-hoc staff used by INEC are corps members of the NYSC. The results from the polling units where the missing staff served have also been declared missing. The LGA Election Officer-in-charge of collating and announcing the local government’s results, Garba Mahmood, said the INEC ad-hoc staff were reported missing after the observation of some police officers who raised concern that they were last seen shortly after voting ended at 2 p.m. on Saturday. Mahmood said repeated calls to their telephone numbers did not go through. The Kogi governorship election was characterised by violence, ballot box snatching, intimidation of voters and vote-buying in many parts of the state.
Yields on Nigeria’s one-year Treasury bills fell to the lowest since April 2016 as demand for three-month debt increased to a record while local funds piled into the debt following the CBN’s restriction of access to its higher-yielding securities. The country sold one-year paper at 10 percent on Wednesday, while the rate on 182-day bills was 9 percent and 91-day debt sold at 7.8 percent. Real yields on all short-term government debts are now negative with the country’s inflation rate at 11.2 percent in October. A total of ₦125 billion ($345 million) worth of bills were sold at the auction as investors offered to buy 13 times the amount of three-month bills on offer, the highest bid-to-cover ratio since 2008, according to Bloomberg. Pension funds, whose holding of high-yielding CBN bills amount to about ₦2.2 trillion ($6.1 billion), have been left looking for alternative investment outlets after being barred from holding central-bank instruments, leading them to clamour for Treasury bills, the next highest-yielding securities in the debt market.