Business
Market Leadership: Anambra Govt Constitutes New Exco
Anambra Government has constituted a new leadership that would run the affairs of market associations in the state, known as Anambra State Amalgamated Traders Association (ASMATA).
The Tide source reports that the ASMATA leadership made up of 20 members is led by Mr Ikechukwu Ekwegbalu and Mrs Rosemary Anazodo, as acting President-General and Secretary respectively.
The Commissioner for Trade and Commerce, Dr Christian Madubuko constituting the body in his office weekend in Awka, announced that Chief Godwin Okeke, Chief Innocent Chukwuma of Innoson Motors and Chief Rommy Ezeonwuka as patrons of ASMATA.
Madubuko also inaugurated leaders for the six zones of the association and two-man legal advisers and two-man advisers on markets.
He said the state government revived the defunct ASMATA as replacement for Amalgamated Traders Association, Anambra State (AMATAS) which was formed about 12 years ago. He said AMATAS failed to hold a peaceful election to replace the out gone leadership and refused the state government to intervene in their matter.
Reports say that the immediate past chairman of AMATAS was Chief Okwudili Ezenwankwo who won the Federal House of Representatives seat for Orumba North and Orumba South Federal Constituency of Anambra.
The commissioner said ASMATA was now the only umbrella body recognised by Anambra Government, adding that their operation would not be affected by whatever would be the outcome of the suit initiated by AMATAS against the government.
“We instituted a new umbrella body for traders in Anambra, sometime ago, during Dr Chris Ngige’s regime, the state government introduced ASMATA but unfortunately that noble association that would have united traders in the state was abolished and replaced with AMATAS.
“AMATAS has been there for the past 12 years but unfortunately, they were not able to conduct a credible election.
“It became marred with crisis of leadership and State Government stepped in but AMATAS said they were a Non Governmental Organisations and government has no say in their affairs.
“They went to court to claim that government has no place in their affairs but we don’t want to go to court with anybody. So, we decided to revive ASMATA as the umbrella body that is recognised by government, so AMATAS can go to court, run the case and do with it whatever they want,” he said.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.