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Swear-In Jonathan As Acting President –Ohanaeze

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The Secretary General of the apex Igbo Social Cultural Organization, Ohanaeze Ndigbo, Chief Nduka Eya , has called for immediate swearing-in of Vice President Goodluck Jonathan as acting president of Nigeria pending the full recovery of president Umaru Musa Yar’Adua.

Chief Eya, who made the call Wednesday while speaking to newsmen on the state of the nation at the Secretariat of Ohanaeze in Enugu, also urged the National Assembly to peruse into the constitution and invoke any section that empowered it to swear in the vice president in the event of incapacitation or long absence of the president.

The Ohanaeze chieftain disclosed that the frail voice of president Umaru Yar’Adua during his interview with BBC was a serious indication that the president was still sick, insisting that the country could no longer continue to exist without a leader.

Using the forum to fault  the recent plenary session of the National Assembly over the long absence of the president, Chief Eya insisted that the lawmakers came into the “show very late despite the sensitive nature of the matter”

He called on the National Assembly to summon President Yar’Adua’s physicians with a view to knowing when their patient would be discharged, adding that “I don’t know why some people are playing politics with the health of the president when  the constitution is very clear. The senate came into the show very late, where have they been since? The Senate intervened very late considering the sensitive nature of the matter”, he insisted.

Continuing, chief Eya further said “I listened to the statement of the president on BBC, his voice was very frail. So how long will the country wait till his doctors discharge him? How long will Nigeria continue to wait without a leader? The man is still ill. The National assembly should as matter of urgency summon Yar’Adua’s doctors to know when he will be discharged . The constitution made it clear that the vice should take over in acting capacity if the president stays outside for long. I don’t know why they are playing politics with this”.

According to him, the constitution made it clear that there should be no vacuum ., by implication, when the president is out, the vice president acts , stressing,  I don’t know why the vice president should not take over or are some political hawks trying to force him to do certain things when he has not been sworn-in,  to pave way for his impeachment?”

 He regretted that the nation was gradually drifting to a turbulent situation over the president’s health, warning that protests and counter protest over long absence of the president was not the best for the country.

On the forthcoming governorship election in Ananmbra State , the Ohanaeze scribe advised the Independent National Electoral Commission INEC,  to conduct a free and fair election, warning that Ohanaeze would  not tolerate imposition of any candidate on the people of the state.

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NSE Begins Week On Negative Note, Loses N19.49bn

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The Nigerian stock market began the week on a negative note as banking and consumer goods stocks, among others, triggered a N19.49bn loss.
At the end of trading on the floor of the Nigerian  Exchange Limited , the NGX All-Share Index dropped by 0.09 per cent to end at 43,270.94 basis points, while the market capitalisation declined to N22.58tn.
Market activities were mixed as the total volume of shares traded decreased by 30.19 per cent while the value traded rose by 34.05 per cent.
A total of 213.13 million shares valued at N2.36bn were exchanged in 4,105 deals, compared to 305.32 million shares worth N3.58bn in 4,450 deals last Friday.
FCMB Group Plc topped the traded stocks in terms of volume, accounting for 27.43 per cent of the total volume of trades while Airtel Africa Plc emerged as the most traded stock by value, representing 28.81 per cent of the total value of trades on the exchange.
14 firms gained compared to 21 losers.
AIICO Insurance Plc was the biggest gainer for the day, topping the gainers’ chart with a price appreciation of 8.57 per cent to N0.76 per share.
It was followed by LivingTrust Mortgage Bank Plc with a rise of 7.95 per cent, ending the day at N0.95 per share.
Analysing by sectors, three of the five major indices closed lower, led by NGX Oil & Gas (-0.56 per cent), NGX Consumer Goods (-0.23 per cent) and NGX Banking (0.18 per cent).
But the insurance (0.82 per cent) and industrial goods (0.002 per cent) indices gained at the end of trading.

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… Introduces TIES To Boost  Business Loan

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The Central Bank of Nigeria (CBN) has introduced the Tertiary Institutions Entrepreneurship Scheme (TIES), which provides undergraduates and graduates with a platform to access loans.
The TIES’ underlying aim is to provide access to capital for Nigerian undergraduates and graduates with innovative entrepreneurial and technological ideas from polytechnics and universities.
TIES intends to shift undergraduates and graduates away from white-collar job pursuits and towards a culture of entrepreneurship development for economic development and job creation.
In a national biennial entrepreneurship competition, the Developmental Component would be distributed in the form of awards to Nigerian polytechnics and universities.
The competition aims to increase undergraduates’ awareness and visibility of high-impact entrepreneurial/technological concepts, foster entrepreneurial talent hunts in Nigerian polytechnics and universities, and encourage commercially viable and transformative technologies.
Interested Nigerian polytechnics and universities shall apply to participate in the national biennial entrepreneurship competition on a dedicated online portal.
Outlining brief details of the project, potential impact and evidence of originality of project, CBN said it is an innovation for students entrepreneurs.

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CITN Applauds FG, Tax Authorities On Fiscal Policy Decisions

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The Chartered Institute of Taxation of Nigeria (CITN) has lauded the Federal Government and tax authorities on the giant strides made on fiscal policy decisions and tax administration measures initiated this year in the area of Finance Act 2021 and the introduction of TaxPromax solution.
President of the institute, Adesina Adedayo, who gave the commendation at the institute’s yearly award ceremony at the weekend in Lagos, assured the government and tax authorities of aligning with the measures and promised to provide professional thoughts and insights on ways through which they could achieve an efficient and effective Nigerian tax system.
Adedayo emphasised the need to address the database, adding that without knowing who the tax-payers are, there is no way they can take money from unknown tax-payers.
Database is the aspect we have been emphasising on as an institute and in doing this, there are so many of pockets of data we have. All the data must be harmonised to have a simple unique tax-payers identification number,” he said.

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