News
Ex-CBN Director Faults Continued Borders Closure
A former Director of the Central Bank of Nigeria (CBN), Dr Titus Okunrounmu, has warned that the continued closure of the country’s borders would exacerbate the stagnation of the economy.
Okunrounmu, who served as director in the department of Budgetary of the bank, told The Tide source yesterday in Ota, Ogun, that the closure would stifle economic growth of the country.
NAN reports that the Federal Government had in August 19 shut down the country’s land and sea borders as a proactive measure in checking cases of insecurity in the country.
According to him, shutting down of borders will further complicate economic challenges as the nation is still importing a lot of goods into the country.
“Closing the nation’s borders is not the solution to our economic under development,” he said.
Okunrounmu explained that the economy will continue to be stagnant because the smugglers would find alternative means of bringing their goods into the country and warned that the trend would negatively affect revenue generation.
“The nation is missing a lot of revenues on a daily basis to the smugglers because of the closure of the borders, “ he said.
He urged the Federal Government to take steps to develop the economy by looking inwards to proffer solutions to the immediate problems affecting the economy.
Okunrounmu said that for such policy to effectively work, the nation will have to be self sustaining in the provision of domestic goods.
News
HYPREP Tightens Security At Project Sites
Following the rupture of the ground tank of its water facility in Ebubu Community in Eleme Local Government Area of Rivers State, the Hydrocarbon Pollution Remediation Project (HYPREP) has tightened security across all its project sites in Ogoniland.
HYPREP, which dropped this hint in a statement signed by its Head of Communications, Dr Enuolare Mba-Nwigoh, said the Project Coordinator, Prof Nenibarini Zabbey had given the directive for security to be tightened across all its project sites in Ogoniland.
Mba-Nwigoh noted that the tightening of security across the project sites has become necessary to forestall interference with the facilities.
He further disclosed that following the rupture of the ground tank of the Ebubu water facility, a team led by HYPREP’s Director of Technical Services, Prof Damian-Paul Aguiyi has visited the scene of the incident to assess the situation, stressing that the water facility has been cordoned off for public safety.
The statement indicated that following the incident, HYPREP has henceforth barred non-project personnel and non-facility staff from gaining access into any of its active project sites in Ogoniland without authorisation.
While appealing to residents of Ebubu Community and the public to remain calm, the Head of Communications assured them that the Project is taking prompt steps to restore water to the community, saying, the cause of the unfortunate incident is being investigated.
He equally noted that the Chief Security Officer of HYPREP has been directed to immediately tighten security across all its project sites in Ogoniland.
The statement said HYPREP is deeply concerned about the incident, stressing that despite the setback, the Project reiterates its commitment to delivering sustainable cleanup in Ogoniland.
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