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Economic Challenges, Surmountable – CBN

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The Central Bank Gover
nor, Mr Godwin Emefiele, says the current economic challenges facing the country could be easily overcome.
Emefiele said this in Abuja when members of the Senate Committee on Banking and other institutions paid an oversight visit to the apex bank.
One of the economic challenges the CBN boss was referring to is the inflation rate which went from an average of 9.2 per cent in 2015 to 17.85 in September 2016.
It is the highest inflation rate since October 2005, boosted by cost of food, housing and utilities.
Also, the country is in recession, having witnessed negative growth for two consecutive quarters.
There is also the issue of volatile exchange rate and huge margin between the inter-bank rate and parallel market in spite of the introduction of a new foreign exchange policy.
The governor said that with the bank’s targeted interventions, the challenges facing the country would soon be over.
“We seek your support for the success of the activities of the CBN, especially at this difficult time in our country.
“I would like to place on record, the support that the CBN has received from the entire Senate in the course of carrying out our activities as regulators of the banking sector.
“I must confess that yes, it is difficult, but I must say that the challenges are easily surmountable.
“ We will, however, continue to crave the support of the Senate and the banking committee so that we can work together to achieve the common objective of making Nigeria habitable for Nigerians,’’ he said.
Meanwhile, the Chairman, Senate Committee on Banking and other financial institutions, Mr Rafiyu Ibrahim, said the entire members of the committee were at the CBN to get answers on the state of the economy.
“So we are here to listen to you and ask questions as lay men. We are most interested in getting answers on the implementation of the budget.
“We are interested in hearing from you in the areas of monetary policies. Most Nigerians believe that the monetary policies have contributed in plunging the country into recession.
“We will be interested in a breakdown of the various intervention programmes of the CBN. On this one, I believe there will be a need for CBN to send us all supporting documents.
“Also we want to know of all the loans the CBN has given out and how impactful it has been on the economy; the various bailout loans to states and repayment progress reports,’’ he said.
On hearing this, the CBN Governor excused newsmen from the interaction before tackling the committee’s questions.
The visit lasted for about five hours and afterwards, Ibrahim addressed newsmen.
Ibrahim said that the committee was satisfied with the explanations of the CBN concerning the economy.
He said that the CBN was working with the Ministry of Finance and other fiscal policy makers to take the country out of recession.

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Kenyan Runners Dominate Berlin Marathons

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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