News
CBN Attacks Sanusi Over Comment On FG’s Loan Request
Central Bank of Nigeria, CBN, yesterday, accused Sanusi Lamido Sanusi, the Emir of Kano, of playing to the gallery over his statement that there are five exchange rates in the country. The apex bank said it does not allocate dollars to end users, saying request for foreign exchange are made through their banks.
It explained that there is no where in the world where the apex bank allows vicious currency speculators to distort its currency endlessly. Sanusi, also a former governor of CBN, had, on Friday, alleged that the apex bank was lending to government above the limits stipulated by the CBN Act of 2007 and that no one was willing to lend to the Nigerian government.
“If Senate approved, I want to see who will lend you $30billion when you have five exchange rates”, the monarch said at a policy monitoring dialogue hosted in Abuja by Savannah Centre for Diplomacy, Democracy and Development.
Sanusi Lamido Sanusi, the Emir of Kano Faulting the emir’s position in a statement, yesterday, the CBN acting Director, Corporate Communication, Mr. Isaac Okorafor, said the apex bank had set up an inter-bank foreign exchange market where anyone who wished to buy foreign exchange could bid for and buy through their banks. “ It is not true that CBN allocates dollars.
There is no where in the world that the Central bank sits by and allows vicious speculators to solely distort the value of its currency endlessly. All central banks intervene to buy or sell in the market to ensure that the local currency is protected from dubious attacks”, Okoroafor stated.
“The channels for advice and contribution of ideas on the current economic situation by all patriotic Nigerians are open. It is rather unfortunate that some people have chosen to play to the gallery and to make statements to disparage those in leadership at this time in total insensitivity to the larger interests of the Nigerian economy.
“We should not forget that the seed of our current economic crisis was planted by the failure of those who occupied public office in the past but failed to act in the long term interest of the Nigerian economy. It is easy to criticize from outside.
“ It is always easier and the grass greener when people are out of office. The challenge we face today is a choice between pandering to the established interest in Nigeria’s speculative economy and the protection of the wages of the real stakeholders who work hard on fixed incomes.
For they are the core victims of Naira depreciation. “At this critical time in the life of our country the CBN will continue to explore avenues with the Federal Government in order to find solutions to the current economic situation. Already Nigerians are waking up to the call to be more productive and to look inwards and to be less dependent on the importation of foreign goods and services.”
Sanusi, in his Friday speech, said the apex bank was illegally lending to the Federal Government. “The problem of the current government is not having the right policies to fix the current economic woes”, he stated. The emir’s presentation showed that CBN’s lending to the government since Buhari came in had spiked from about N1.5 trillion to over N4.5 trillion.
“The CBN-FGN relationship is no longer independent. In fact, one could argue their relationship has become unhealthy. CBN claims on the FGN now tops N4.7 trillion —equal to almost 50% of the FGN’s total domestic debt.
This is a clear violation of the Central Bank Act of 2007 (Section 38.2) which caps advances to the FGN at 5% of last year’s revenues. Has CBN become the government’s lender of last or first resort?” Sanusi said at the dialogue that no one was willing to lend to the Nigerian government.
“If Senate approved, I want to see who will lend you $30billion when you have five exchange rates”. According to the former CBN governor, the country is enmeshed in heavy debts. Out of every N1 Nigeria makes, the emir explained, 40 kobo goes to debt and 60 kobo is left for salaries, health, education, power, infrastructure. He said oil is merely a working capital that cannot make the country rich. Nigeria produces one barrel for 80 Nigerians; Saudi Arabia produces one for 3 Saudis, Sanusi said.
The former CBN boss noted that in every economy, growth is driven by “consumption, investment and net export”, adding that “our exports cannot grow, without regulatory certainty or an increase in the price of oil”. He lamented that the country was spending money on repaying debts and also on recurrent expenditure, as against education, healthcare, power, and other infrastructure.
The emir also stated that Nigeria is the lowest per capita spender on development in Africa. On speaking truth to power, he said: “I can’t apologise for being who I am. The government I served, I did not keep quiet. When I am not serving the government, I cannot keep quiet.”
News
NPF Warn Applicants Ahead Of Constable Recruitment Exam
The Katsina State Police Command has cautioned applicants for the upcoming police constable recruitment examination to adhere strictly to laid-down procedures and avoid falling victim to fraudsters.
The Commissioner of Police, Ali Umar-Fage, issued the warning in a statement released on Sunday by the command’s spokesperson, Abubakar Sadiq-Aliyu.
He disclosed that the nationwide examination is scheduled to take place from April 28 to April 30 in Katsina State and that the exercise will be conducted at Hassan Usman Katsina Polytechnic along Dutsin-Ma Road.
According to the commissioner, only candidates who successfully passed the recently concluded physical and credential screening will be eligible to sit for the examination.
Applicants have been directed to log on to the official recruitment portal from April 24 to print their coloured examination invitation slips, which contain details of their specific date, time, and venue.
Mr Umar-Fage stated that candidates must present a valid National Identification Number (NIN) slip issued by the National Identity Management Commission (NIMC), bearing a clear photograph, alongside their printed coloured invitation slip and a writing pen at the examination centre.
He added that the approved dress code for the exercise is a white T-shirt, white shorts, and white canvas shoes.
Reiterating that the recruitment process is entirely free of charge, the police chief warned applicants to be wary of individuals or groups seeking to extort money under the guise of facilitating recruitment.
News
Monarch Pledges Strong Action Against Gender-Based Violence
The Rivers State Traditional Rulers Council has pledged to take decisive action to curb the rising cases of gender-based violence (GBV) across the state, in partnership with ActionAid and other relevant organisations.
The commitment was made during an event organised by ActionAid in collaboration with the Rivers State Ministry of Social Welfare and Rehabilitation in Port Harcourt. The programme, titled “Convening of Traditional Rulers for GBV Prevention,” carried the theme, “From Custodians to Champions: Redefining Culture for GBV Prevention and Community Protection.”
Speaking on behalf of the council, the Okilomuibe of Engenni Kingdom, HRM King Moore MacLean Ubuo, said traditional rulers are determined to move beyond mere responses to incidents of violence by adopting proactive strategies.
“We will establish and empower community-led structures, including traditional cabinets and women leaders, to identify early warning signs of violence and intervene before harm occurs,” he said.
King Ubuo added that traditional institutions are committed to enforcing the Violence Against Persons Prohibition (VAPP) Law within their domains, stressing that the longstanding culture of silence surrounding abuse would no longer be tolerated.
“We will ensure that our subjects understand their rights and that the law is respected as the ultimate standard for justice,” he added.
Also speaking, the Rivers State Government emphasised that tackling GBV requires more than policies and enforcement, noting that a transformation in societal attitudes is essential.
Permanent Secretary of the Ministry of Social Welfare and Rehabilitation, Mrs. Lauretta Dimkpa, who was represented by the Director of Child Welfare, Mrs. Fumilayo Adebayo, highlighted the critical role of traditional rulers in shaping societal values.
“As traditional rulers, your voices command respect, your decisions influence behaviour, and your institutions are trusted platforms for conflict resolution and social guidance,” she said.
She urged them to promote cultural norms that uphold dignity, respect, and equality, while also encouraging victims to report abuse without fear of stigma.
In his remarks, the Country Director of ActionAid Nigeria, Dr. Andrew Mamedu, described the gathering as timely, noting that GBV remains a widespread violation of human rights and a major obstacle to sustainable development.
Represented by Dr. Adedeji Ademefun, he cited data showing that 31 per cent of Nigerian women aged 15 to 49 have experienced physical violence, with many cases going unreported due to fear, stigma, and cultural silence.
“National surveys indicate that nearly three in ten women have experienced physical or sexual violence, underscoring the scale and urgency of this crisis,” he said.
Earlier, the Coordinator of the Rivers State Multi-Stakeholders Action Committee, Barrister Evelyn Asimie Membere, described GBV as one of the most persistent human rights violations, cutting across age, class, and geography.
According to her, traditional rulers are uniquely positioned to influence behaviour and drive meaningful change at the grassroots level.
“In many of our communities, your voice carries more weight than any policy or legislation,” she said.
The event brought together key stakeholders committed to strengthening community-based approaches to preventing GBV and protecting vulnerable groups across Rivers State.
News
Tinubu Support Group Canvasses Second Term For President Ahead Of 2027
A socio-political group, the Tinubu Youths Vanguard Organisation (TYVO), Rivers State chapter, has called on Nigerians to support the re-election of President Bola Ahmed Tinubu in 2027, citing the need to consolidate ongoing economic and infrastructural reforms.
The State Coordinator of the group, Hon. Emmanuel Fubara, made the appeal over the weekend in Port Harcourt on the sidelines of a meeting of the Southern Traditional Rulers Council.
He said granting the Tinubu administration a second term would enable it to fully implement its transformation agenda, particularly under the Renewed Hope initiative.
“It is important that the Tinubu administration is given another opportunity to complete its economic and developmental programmes for the benefit of the country,” he stated.
Fubara disclosed that the group is preparing for its formal inauguration in the State, along with the unveiling of its local government, ward and unit structures, including student and market women wings.
According to him, the organization will be fully mobilised to promote the policies and achievements of the current administration, with a focus on issue-based campaigns aimed at restoring public confidence in the nation’s economy.
He noted that the administration has made strides in revamping the economy and executing key infrastructure projects, including the ongoing coastal road development in parts of the country.
Fubara expressed confidence that the group’s campaign strategies would resonate with Nigerians, adding that opposition voices would be effectively countered through sustained grassroots engagement.
He also urged members of the group to intensify sensitisation efforts across communities, highlighting what he described as visible results of the administration’s reforms.
On security challenges facing the country, Fubara said the situation was inherited from previous administrations but maintained that the current government is taking decisive steps to address it.
He expressed optimism that ongoing efforts, including international collaborations, would significantly curb insecurity in the near future.
When asked whether the group would also campaign for Rivers State Governor, Sir Siminalayi Fubara, the TYVO coordinator said the organisation would take a position at the appropriate time, noting that directives from the All Progressives Congress (APC) would guide its activities.
-
Maritime2 days agoCustoms Deploys Seven Patrol Vessels, Boost Waterway Anti-smuggling
-
Sports2 days agoFinancial Issues Stall Chelle’s Eagles Contract Talks
-
Oil & Energy2 days agoGlobal Energy Crisis Is Reviving Green Hydrogen
-
Sports2 days ago
Four Private Clubs Gain Promotion To NPFL
-
Sports2 days agoNFF mourns ex-Eagles striker Eneramo
-
Sports2 days agoEuropean Giants Circle For Osimhen
-
Sports2 days agoW/Cup Qualifier: Flamingos In Impressive Opener
-
Sports2 days agoTennis Event Boosts Grassroots Development Push
