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Tackle Insecurity, Group Tasks Buhari

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The Conference of Nigerians for Peace and Good Governance (CONPAGG) has said that the redesign of Naira notes was the best legacy President Muhammadu Buhari would bequeath to the country.
The group, however, called on Buhari to follow the Naira redesign by restructuring the security architecture of the country, advising him to replace, with immediate effect, the National Security Adviser (NSA), Babagana Monguno, and other service chiefs.
The call was contained in a statement signed by the group’s National Coordinator, Dr Gbenga Olusegun and Director of Women Empowerment, Dr Mrs Zainab Maikanti, yesterday.
The CBN Governor, Godwin Emefiele, had announced the redesigning of Naira, which will affect N200, N500 and N1000 denominations.
Emefiele said the new policy would take effect from December this year.
However, CONPAGG has come out to say that the goal of redesigning the Naira would be defeated if the nation’s security sector is not rejigged and manned by capable hands ahead of the 2023 general election.
Part of the statement read: “This landmark step (Naira redesign) will no doubt help to reduce inflation, currency counterfeiting and excess cash in the hand of desperate and criminal politicians who had stockpiled cash to rig the 2023 general election.
“However, we wish to raise a serious major red flag which is the issue of insecurity and terrorism in the country. If this is not addressed within days, the entire intent and purpose of the Naira redesign would have been defeated; particularly as it affects the 2023 general election.
“The president must, therefore, compliment the new economic policy with the immediate sack of the National Security Adviser (NSA), Babagana Monguno, and all the service chiefs as well as heads of other security agencies.”
The group further added that the total overhaul of the security and economic policy, ahead of the next year’s general election, would help stabilize the country before the president leaves office.

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Tribunal Verdicts, Affirmation Of People’s Trust In Us – Fubara

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Rivers State Governor, Sir Siminalayi Fubara, has described the judgment of the Governorship Election Tribunal that upheld his election victory as a confirmation of the trust expressed in him by Rivers people.
This was contained in a statement signed by the Senior Special Assistant on Media to the Governor, Boniface Onyedi, in Government House, Port Harcourt.
At a brief thanksgiving service held at the Chapel of Everlasting Grace, Government House, Port Harcourt on Monday night, which was attended by some members of the State Executive Council and political leaders, Fubara restated his commitment not to betray the expectations of Rivers people on his administration.
He explained that the place of God in his administration would not be compromised, which is why they had gathered to thank Him for His unceasing direction and guidance.
He added that his emergence as governor was made possible at the polls by God, insisting that His favour has now been affirmed by the tribunal.
Fubara particularly thanked the immediate past Governor of Rivers State and Minister of Federal Capital Territory (FCT), Chief Nyesom Wike, for his immense support to his governorship bid, following through the stages of the legal contest.
He also thanked the Rivers people for rallying behind him to allow the will of God to prevail for the State.
The governor, who solicited for more support, enjoined Rivers people to be patient with his administration, promising to deliver good governance that will make their lives better.
In his exhortation, the Chaplain of the Chapel of Everlasting Grace, Government House, Port Harcourt, Rev. Barasin Ogan, said it is good to give God thanks, which is what the governor has done.
Ogan declared that the hand of God is upon Fubara and will strengthen him to work in mercy, delivering justice without bias and showing mercy without ceasing.

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Senate Warns Tinubu Against Extra-Budgetary Spending

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The Senate Committee on Gas has urged President Bola Tinubu to present a 2023 Supplementary Budget to the National Assembly to commence his Compressed Natural Gas (CNG) project.
Chairman of the Committee, Senator Jarigbe Jarigbe made this known in a statement in Abuja, yesterday, barely 48 hours after Tinubu announced measures to mitigate the effect of fuel subsidy removal on Nigerians.
The chairman, who lauded Tinubu for the CNG initiative, however, warned that it would be illegal to spend taxpayers’ money or money without approval by the National Assembly and other projects in the gas value chain, which is cheaper than the use of fossil fuel.
The federal lawmakers also advised against extra-budgetary expenditure through ‘Ways and Means,’ saying the legislature is ready to support and bring succour to Nigerian people.
“The noble initiative will ameliorate the hardship of the citizens. Also, the President needs to come up with a supplementary budget to enable the government to fund the gas value chain, including the provision for CNG infrastructure and CNG vehicles, and the workshops and training would need to be funded,” the senator said.
“The President should not embark on extra-budgetary expenditure because it will be inconsistent with the provisions of the law”, he cautioned.
Jarigbe noted that the National Assembly, under the leadership of Senator Godswill Akpabio, was poised to support the great programmes of Tinubu’s administration, adding that a 2023 supplementary budget would be most appropriate, instead of the ‘Ways and Means’ approach of the previous administration, which is currently a major issue of contention in the Central Bank of Nigeria.

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NDIC Begins Payment Of N16bn To 20 Defunct Banks’ Shareholders

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The Nigeria Deposit Insurance Corporation (NDIC) has announced the declaration of N16.18 billion in liquidation dividends to depositors, creditors, and shareholders of 20 banks in liquidation.
The announcement comes after impressive recoveries from debtors and realisation of assets of banks in liquidation.
The corporation’s Director, Communication and Public Affairs, Bashir Nuhu, made this known in a statement on Monday.
The NDIC said it had commenced verification and payment of stakeholders covered by the declarations within 30 days, starting from September 28.
The statement reads partly, “It is instructive to note that the ongoing payment is sequel to earlier payment of various sums which cumulatively amounted to N45.45bn as liquidation dividends in respect of the 20 banks as at July 2023.”
The closed banks covered by the exercise include Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, Progress Bank, Merchant Bank of Africa (MBA), and Premier Commercial Bank.
Others are North South Bank, Prime Merchant Bank, Commercial Trust Bank, Cooperative and Commerce Bank, Rims Merchant Bank, Pan African Bank, Fortune Bank, All States Trust Bank, Nigeria Merchant Bank, and Amicable Bank in-liquidation.

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