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Senate Confirms Aliyu As ICPC Chairman …To Ban Local FX Transactions, CBN Gov From Partisan Politics

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The Senate has confirmed Musa Aliyu as the substantive chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
His confirmation followed a screening exercise at the Senate plenary, yesterday.
The screening started around 11:50am after the leader, Bamidele Opeyemi, raised a point of order to suspend relevant senate rules to allow strangers into the chamber.
Aliyu, a lawyer and Attorney-General of Jigawa State was screened at the Committee of a Whole chaired by the Deputy President, Jibirin Barau.
President Bola Tinubu had written to the Senate on Wednesday seeking confirmation of Aliyu as chairman of the agency.
Meanwhile, a bill that seeks to bar a serving Governor of the Central Bank of Nigeria from partisan politics and equally reposition the bank for efficiency, scaled second reading in the Senate on Wednesday.
A second bill, seeking to prohibit the use of foreign currencies for local transactions was also considered.
One of the consolidated bills, titled: “Central Bank of Nigeria (Establishment) (Amendment) Bill 2023,” was sponsored by Senator Steve Karimi (All Progressives Congress – Kogi West) while the second one, titled: “A Bill to Amend the Central Bank of Nigeria Act 2007, and for Matters Connected Therewith, 2023,” was sponsored by Senator Darlington Nwokocha (Labour Party – Abia Central).
Recall that the immediate-past CBN governor, Godwin Emefiele, attempted to contest the 2023 presidential primaries of the APC while in office.
The move was widely condemned by Nigerians who wondered how a serving public servant could seek an elective office contrary to extant provisions of the constitution.
Karimi explained, in the explanatory memorandum of his bill, that the proposed legislation was aimed at amending the CBN Act to allow for greater accountability and transparency in the running of the apex bank and to prohibit the use of foreign currency in local transactions in Nigeria.
Karimi’s proposed amendment to Section 9(2) of the CBN Act reads: “Notwithstanding the provisions of this Act or any written law in existence, the Governor and the Deputy Governor of the bank shall not participate directly or indirectly in partisan politics, nor contest any election, during their tenure in office.
The Kogi West lawmaker’s bill also seeks to prohibit the use of foreign currency for domestic transactions in Nigeria.
The bill seeks an amendment to Section 20 of the CBN Act, by inserting Section 20(a).
The proposed amendment reads: “20(a) Prohibition of the use of foreign currency in democratic transactions:
“(1) No person or corporate body shall use any foreign currency as a means of exchange for goods, services and other transactions in markets supermarkets, hotels, restaurants, airports and other places of business in Nigeria except by a bank.
“Licensed Bureau De Change and other financial institutions duly authorised by the Central Bank of Nigeria to trade, deal and use such currency and no individual or business entity in Nigeia shall advertise, denominate or price its goods or services in any currency other than the Nigerian Naira and Kobo.
“(2) Any person who contravenes subsection (1) of this section commits an offence and shall be liable on conviction to: (a) in the case of an individual, to a fine of N250,000.00 or a term of imprisonment, not exceeding six months or both such fine and imprisonment;
“(b) in the case of a corporate entity to a fine of N1,000,000 and a conviction of three months to its officers or directors who authorised or undertook the transaction.”
On his part, Senator Nwokocha, in his lead debate, said, “This bill seeks to address all anomalies that have hindered the advancement of the apex bank to handle the ailing economy of our nation.
“The thrust of this amendment is to create a people-centered Central Bank by delivering price and financial system stability and promoting sustainable economic development.
“As the nation grapples with economic issues, we need to reposition the CBN to grow the economy, regulate the exchange rate, and unauthorise financial transactions and dollarising the economy.
“This bill seeks to, among other things, separate the head of management from the head of the governing board in line with national and international good corporate governance practices.
“Enshrine real-time controls and effective accountability in the conduct of central banking in Nigeria
“Reposition the CBN towards pursuit and advancement of its core mandates given the Bank’s pivotal role in the economy; and position the CBN as an apolitical entity that will become a worthy example in national and international monetary policy, banking sector regulation, currency management, and supervision.”

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Independence Anniversary:  Nigeria Is A Failed Grandfather – Monarch 

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A first class traditional ruler in Rivers State, His Royal Majesty, King Aaron Ikuru, has described Nigeria at 65 as a grandfather who cannot provide leadership to other African Countries.

The monarch  stated this in an interview at his palace in Ikuru Town, yesterday.

According to him, Nigeria would have been a  developed country to set the pace in the whole of Africa, considering its numerous resources.

“Nigeria is a grandfather but not behaving as a grandfather. Our country, Nigeria, before and from the era of Independence was in the state of becoming a great country, but unfortunately is not becoming anything.

“We should be far ahead with what we have in the country. God blessed us, we have almost what it takes in terms of mineral resources, manpower amongst others that can drive speedy development in the country.

“If we’re able to harness all the things we have, even America by now would have respected us”, he  said.

While blaming the past leaders of the country, the monarch called on the current leadership of the country to redouble efforts in order to narrow the differences in terms of development, exchange rate between naira and foreign currencies.

King Ikuru, who is also the Chairman of Andoni Area Traditional Rulers Council, however, lauded the efforts of the founding fathers, past leaders of the country for the achievements so  far.

He also expressed optimism that Nigeria would be great, calling on the opinion leaders to shun tribalism and political intolerance in the country.

 

“If Nigeria should experience rapid development in all sectors, it means we must shun tribalism and political intolerance, the interest of our country must be our priority.

“We need to fight corruption vigorously, and leaders must show good example of discipline and integrity”, he said.

The monarch used the opportunity to wish Nigeria happy independence anniversary.

By: Enoch Epelle 

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FG begins payment of N32,000 pension increment to retirees – PTAD

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The Pension Transitional Arrangement Directorate has announced the start of implementation of the new pension increments for pensioners under the Defined Benefit Scheme, saying the adjustments will be reflected in the September 2025 payroll cycle.

In a statement signed by Management and posted on its X handle, PTAD said the increase package includes a fixed N32,000 payment alongside percentage increases of 10.66% and 12.95% for eligible categories, which will benefit about 832,000 pensioners under its management.

Recall that PTAD in August announced President Bola Tinubu approved a series of measures, including new welfare benefits for pensioners under DBS.

The approval follows a formal request by PTAD’s Executive Secretary, Tolulope Odunaiya, seeking an emergency budgetary allocation to implement pension reforms and welfare benefits for the scheme’s retirees.

The measures include a N32,000 pension increment, percentage increases for pensioners of defunct and privatised agencies, pension harmonisation for all DBS pensioners, enrolment into the National Health Insurance Scheme, and the settlement of long-standing unfunded pension liabilities.

In a statement yesterday, PTAD said the partial release of N820.188 billion by the Federal Ministry of Finance from the emergency funding has made it possible for pensioners to begin receiving the enhanced payments immediately.

The statement read, “Further to the President’s approval of the emergency budgetary allocation for the payment of the new pension increment rates for Pensioners under the Defined Benefit Pension Scheme (DBS) that was earlier published by the Pension Transitional Arrangement Directorate on Friday, 8th August, 2025, the Directorate is delighted to announce the commencement of the implementation of the 832,000, 10.66% and 12.95% pension increment for eligible pensioners under the management of PTAD, in the September 2025 pension payroll cycle.

“This achievement has been made possible through the partial release of 820.188 billion by the Federal Ministry of Finance, from the initial 845 billion emergency funding approval granted by the Federal Government.

“This milestone clearly reaffirms the Federal Government’s dedication to safeguarding the welfare and entitlements of DBS Pensioners in line with the Renewed Hope Agenda.”

The directorate thanked President Bola Ahmed Tinubu for approving the emergency allocation.

It also acknowledged the role of the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; the Minister of State for Finance, Dr Doris Uzoka-Anite; the Accountant-General of the Federation and key presidential aides and parliamentary committees for their “timely interventions” and support.

The statement also expressed appreciation to organised pension groups, including the Nigeria Union of Pensioners and the Federal Parastatals and Private Sector Pensioners Association of Nigeria, for their cooperation during negotiations and implementation planning.

“We further assure all our DBS Pensioners and Stakeholders that the Directorate will continue to collaborate with the relevant authorities towards release of the outstanding approved funds and subsequent fulfilment of all future obligations relating to the pension increments and the landmark reforms,” the statement added.

The DBS covers pensioners who retired before the introduction of the Contributory Pension Scheme in 2004, including those from defunct public institutions, privatised agencies, and treasury-funded parastatals.

Over the years, many have faced irregular payments, delayed harmonisation, and inadequate healthcare access, challenges that the new reforms are expected to address.

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Nigeria At 65: NOA urges citizens to foster unity, progress

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The National Orientation Agency (NOA) has urged Nigeria. citizens to remain united, peaceful to enhance development of the  nation  as it celebrates 65th independence anniversary.

Mr Mkpoutom Mkpoutom, Director of NOA in Akwa Ibom,  gave the charge in Uyo yesterday while addressing newsmen and stakeholders to mark the anniversary.

Mkpoutom said it was essential to recognise that the strength of Nigeria lay  in its diversity

“With over 250 ethnic groups and an array of languages, the nation embodies a unique blend of heritage.

“This diversity should be seen not as a dividing line but as a unifying force that propels the country toward progress.

“As Akwa Ibom embarks on another year,  it is crucial for all citizens to foster a sense of unity and shared purpose.

“Embrace dialogue, understanding and collaborate with the Renewed Hope Agenda of President Bola Tinubu in its efforts to addressing pressing challenges like poverty, security, education, and healthcare, thereby paving  way for a brighter future for all.”

The state director, however, appealed to Nigerians from all walks of life to renew their commitment to a more prosperous, peaceful, and equitable nation.

“Let this anniversary serve as a reminder of the collective strength that lies in every citizen,” he said.

He urged everyone to contribute positively to the development of a better society.

Mkpoutom urged the people and all citizens to honour the labours of heroes past, as they celebrated the present, while working diligently toward a future filled with hope and opportunities for generations to come.

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