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eNaira, BVN, TSA, NIN Should Give Investors Comfort, Buhari Insists

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President Muhammadu Buhari, yesterday, in Riyadh, Saudi Arabia, said initiatives to drive the digital economy and fight corruption in the country should give investors “a lot of comforts”.
Among the initiatives mentioned by the president are e-Naira, Treasury Single Account (TSA), Bank Verification Number (BVN), and National Identification Number (NIN).
Speaking at the fifth Edition of Future Investment Initiative Summit holding in Riyadh, Saudi Arabia, Buhari said his regime would keep encouraging public and private initiatives that increase investments in health, education, capacity building, youth empowerment, gender equality, poverty eradication, climate change, and food security.
A statement from the Presidency quoted the Nigerian leader as urging more interest in infrastructure such as healthcare and education, which “present enormous opportunities for investors in a country our size.
“Digital economy in Nigeria has many potential for investment, as it has remained the fastest growing sector in both 2020 and 2021. Nigeria has many opportunities for investment in broadband, ICT hardware, emerging technology and software engineering.
“We have recently approved the national policy on Fifth Generation (5G) network. Our aim is to attract investors in healthcare, smart cities, smart agriculture among others. The benefit of real time communication will support all other sectors of the economy,” he noted.
To further improve and reposition the economy to attract investors, the president said, “e-Naira, the electronic version of our national currency, which puts us on track to become the first African country to introduce a Central Bank Digital Currency” was launched on October 25, 2021.
“We believe this and many other reforms will help us increase the number of people participating in the banking sector, make for a more efficient financial sector and help us tackle illicit flow of funds.
“To further strengthen our anti-corruption drive, increase accountability and transparency, we have centralized government funds through a Treasury Single Account, and ensuring that all Nigerians with a bank account use a unique Bank Verification Number (BVN).
“These initiatives, coupled with our nationwide National Identification Number (NIN) exercise, reinforce our efforts to tackle corruption and fraud. We believe that this should give investors a lot of comforts.”
Buhari attributed growing social unrest to inequalities and unfair policies that exclude the majority from opportunities for participation, admonishing world leaders and global investors to prioritise inclusive and humane policies.
He said, “By so doing, it will go a long way in reenergizing the global economy in a post-COVID-19 era.
“Nigeria is Africa’s largest economy and most populous nation. Our economic reforms which focus on ‘humane’ investments are ideal for investors looking to have profitable returns while positively impacting the citizenry.”

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Nigeria Can’t Survive Another Four Years Of APC, PDP Warns

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Chairman, Peoples Democratic Party (PDP) Governors’ Forum, Rt. Hon. Aminu Tambuwal, has described the ruling All Progressives Congress (APC) as a rickety vehicle that cannot take Nigeria to any destination.
Speaking at the PDP retreat in Abuja, yesterday, the Sokoto State governor accused the APC of destroying the nation’s economy.
Tambuwal said Nigeria cannot survive another four years under an APC-led Federal Government.
“Can Nigeria survive another four years of APC? The answer is a resounding NO. It is too frightening to contemplate,” he said.
The governor stated that it is time to rescue and rebuild Nigeria.
He said: “A rickety vehicle cannot take Nigeria to its destination as the nation with possibilities for greatness and progress. PDP is now once again a well-oiled, serviced vehicle that will midwife the Nigeria of our dreams.
“It is, indeed, time to Rescue and Rebuild Nigeria. Nigeria is in an urgent need for a surgical operation. Nigeria is in a permanent emergency.
“We all know what the problems are. They are man-made. And is, therefore, resolvable. It requires a focused, determined, knowledgeable and patriotic organisation of like minds to build the critical mass necessary for a great leap forward. Yes, it requires leadership, with vision and discipline.”
The former speaker of the House of Representatives stated that Nigeria is suffering from the crisis of governance.
According to him, “We suffer from a crisis of governance. The unity of Nigeria is facing unprecedented challenges. Life in Nigeria is increasingly becoming brutish and short as insecurity ravages the land. Poverty is the forte of the ordinary Nigerian. The health and education of our people has not improved.
“Our people are in want. The economy is in dire straits with the exchange rate now about N540 to a Dollar from the N150 to a Dollar when PDP left office. Prices of food stuff and essential commodities are unsustainable. Clearly beyond the reach of the average Nigerian.
“Between 35 to 40% of Nigerians are unemployed. And women and youths bear the main brunt. Bandits, kidnappers, terrorists are having a field day almost unchallenged. Our children are not safe even in their schools.
“Corruption still stalks the land. Nepotism, ethnic and religious bigotry reign supreme in today’s APC’s Nigeria. Our infrastructure is still comatose.
“Trust and hope in Nigeria is at its lowest. Our lamentations can go on, ad infinitum. But the test of leadership is the ability to solve problems. What solutions will PDP offer? What is the way forward?”
Tambuwal stated that the PDP is ready to change the fortunes of the country.
“Well, this is why we have gathered here, to brainstorm and offer policy options for Nigeria. We cannot only criticise; we must provide workable solutions and clear policy alternatives. This will be presented to the Nigerian people. A sharp contrast must be drawn with the ruling incompetent and rudderless APC administration.
“PDP has shown that it has learnt its lessons. It is ready for power in 2023 to provide hope where ineptitude currently exists.
“Where APC thrives in excuses, PDP will take responsibility. Where APC thrives in propaganda and deceit, PDP will be transparent with Nigerians. Whereas APC government thrives in insecurity, PDP will secure Nigeria. Whereas APC presides over Nigeria as the poverty capital of the world, PDP will make Nigeria prosperous. APC has wrecked our economy, but PDP will salvage it. Where APC focuses on selective anti-corruption fight, PDP will fight corruption with appropriate institutional reforms,” he said.
The governor stated that Nigeria must embrace restructuring to survive.
“It must restructure its polity, economy, security and ways of doing things. It must embrace relative autonomy and decentralisation of power. This will unleash the energies of our people, especially, the young. It is time to allow Nigeria blossom. It is doable with all hands on deck.
“We must embrace innovation and technology as a way of life. Technology will solve the youth unemployment time tomb. Technology will improve our agriculture, health, industralisation, education and indeed, it has implications and impacts on all facets of our lives. It is in this respect that we continue to condemn the twitter ban as a retrogressive action that should never have happened,” he said.

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The Tide’s Deputy Editor Loses Mother In-Law

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The burial of the mother in-law of the Deputy Group News Editor of The Tide Group of Newspapers, Rev. Igbiki Benibo, is scheduled for Saturday, November 27.
According to a statement by the bereaved family, the Late Madam Fabiawari Nicholas died on May 29, this year at the Larosa Specialist Hospital, Port Harcourt following a protracted sickness.
The statement signed by Mr. Goodluck Nicholas on behalf of the families, said a transitional Service would be held at Second Market Eneka in Obio/Akpor Local Government Area of the State on Saturday by The Redeemed Christian Church of God from 9:30am to 11:30am.
Interment, the statement added, would take place at the Port Harcourt Cemetery by 12noon.
Speaking on the development, the Deputy Group News Editor of The Tide Group of Newspapers, Rev. Benibo described his late mother in-law who hails from Bukuma in Degema Local Government Area as selfless, conscientious and humane.
Rev. Benibo extolled the qualities of his late mother in-law, saying “when a mother in-law is selfless, marriage is made easy”.

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