Nigeria’s Central Bank of Nigeria, CBN, has debunked report that it instructed commercial banks in the country to put a lid on cryptocurrency transactions.
An earlier report had claimed that the Yemi Cardoso-led CBN ordered the money banks to stop operating crypto accounts.
The banks, the report claimed, citing a directive from the CBN are to place post-no-debit, PND, on the crypto accounts for six months.
The apex bank however stated on Wednesday that such directive did not emanate from it, urging Nigerians to discountenance the report for what it is, false.
The report comes on the heels of a recent clampdown on crypto current sites including Binance by the CBN which accused the Virtual Currency trading sites of Naira speculation and tax evasion.
Nadeem Anjarwalla, a Binance executive was detained in Nigeria for alleged tax evasion and other offences, but later escaped.
The fleeing Binance chief has now been arrested in Kenya through the cooperation of INTERPOL, and is deemed to be deported to Nigeria for trial, according to those familiar with the issue.
The CBN had in December 22, 2023, lifted the ban it earlier placed on crypto sites in 2021.
The federal government has launched a N100 billion credit scheme to boost the economy. The aim, according to the government is to stimulate the economy by ensuring that Nigerians who want to set up businesses have access to funds.
In a statement on Wednesday, Ajuri Ngelale, the Special Adviser to President Bola Ahmed Tinubu on Media and Publicity, said the scheme has already been approved by the president, who has also approved its immediate take of.
The presidential spokesperson said President Tinubu has now fulfilled one of his key campaign promises to ensure that Nigerians are empowered to have access to goods and services through a credit scheme established by the government, stressing that civil servants in the country will benefit from the first phase of the scheme while other Nigerians will benefit later.
Ngelale explained: “Consumer credit serves as the lifeblood of modern economies, enabling citizens to enhance their quality of life by accessing goods and services upfront, paying responsibly over time.
“It facilitates crucial purchases, such as homes, vehicles, education, and healthcare, essential for ongoing stability to pursue their aspirations.
“Through responsible repayment, individuals build credit histories, unlocking more opportunities for a better life.
“Additionally, the increased demand for goods and services will stimulate local industry and job creation.
“The President believes every hardworking Nigerian should have access to social mobility, with consumer credit playing a pivotal role in achieving this vision.
“The Nigerian Consumer Credit Corporation (CREDICORP), which will drive the scheme, will achieve its mandate through the following:
*Strengthening Nigeria’s credit reporting systems, ensuring every economically active citizen has a dependable credit score. This score becomes personal equity they build, facilitating access to consumer credit.
*Offering credit guarantees and wholesale lending to financial institutions dedicated to broadening consumer credit access.
*Promoting responsible consumer credit as a pathway to an improved quality of life, fostering a cultural shift towards growth and financial responsibility.
“In line with the President’s directive to expand consumer credit access to Nigerians, CREDICORP has launched a portal for Nigerians to express interest in receiving consumer credit.
“This initiative, in collaboration with financial institutions and cooperatives nationwide, aims to broaden consumer credit availability.
“Working Nigerians interested in receiving consumer credit can visit www.credicorp.ng to express interest. The deadline is on May 15.”
The Presidential Candidate of the Labour Party in the 2023 General election, Peter Obi has challenged rich Nigerians to do more for the poor in our society in the area of provision of water and education.
Obi said at a press conference in Abuja on Wednesday that 70% of the wealth of Nigeria is in the hands of about 1% of Nigerians and noted that if point one cent of the population about 200,000 rich Nigerians can deploy their resources for the basic needs of the poor in our midst, the situation will not be as deplorable.
He further charged Governments at all levels to ensure that resource deployment is aimed at improving the living standards of the poor in our midst and pulling them out of poverty.
The LP standard bearer said that his plea in these two areas, water and education derives from his discoveries after taking a humanitarian tour of some areas in the country that opened his eyes to the extent of poverty and abandonment of the people.
Obi who announced the completion of the construction of ten boreholes in some states of the North for a short-term water supply for the poor said, if 200,000 rich Nigerians join him to do the same in the area of their choice, it would go a long way to solve the water needs of the poor.
Similarly in the area of education, Obi said that the potential he found out mingling with almajiris in the Quranic schools in the North moved him to tears how brilliant the children are but needed adequate support to develop them well to grow to be catalysts of development.
“I am carrying out a campaign to make the rich in our midst do more in providing water to our rural poor and helping to pull the out-of-school children off the streets for proper development.
“This is the time to cut waste, our larger population can’t be suffering conspicuous lack of basic needs like water and we live lavish lifestyles in their midst, our crisis of insecurity and other challenges derives from poverty and it’s our responsibility to pull people out of poverty through good education.
On what he would do differently as President following his criticism of coastal roads, the LP flag bearer said, that under his watch as President, there would be no road until all the existing roadworks in the country are put in order.
“ I cannot embark on a new road when we can’t connect our states and cities in all the geopolitical zones because of bad roads. I will first fix the roads and move the economy.
In 2027, Obi said his concern now is how to see Nigeria work not the election, “ Only God can tell who can run for election in future, my interest now is the poor and how to see Nigeria work.
On the crisis in his party, the Labour Party, Obi said it would be resolved amicably as they are not fundamental and cannot be handled, “ what is happening in Labour Party is child’s play compared to what is going on in APC and PDP.
Responding to a question that he did not build any new school when he was Governor of Anambra state, the former Anambra state Governor said those who said that failed to avail themselves of his manifesto. He said that when he came to Anambra state, education was in shambles, schools were closed and the state was number 26 in the country but by the time he left, Anambra was number one in the state.
“ I improved the quality, physical and mental well-being of the people, schools, had the basic things they needed and the people shone like stars and that was my manifesto. Building new schools when the old ones are moribund is just like building coastal lines when internal roads are impassable.
Accomplished Journalist, and one of the founders of Newswatch Magazine, Ray Ekpu, has lost his wife, Uyai.
Mrs Ekpu, a distinguished scholar, Civil Servant and Educationist died on April, 21, 2024, at the age of 73.
In a statement he personally signed on Wednesday, Ekpu said his wife died after a brief illness.
The statement reads in part:
“Uyai was a distinguished staff member of the Centre for Management Development (CMD), where she served until her retirement in 2021 as an Acting Director in the Management Education and Training Department.
“Uyai was a scholar of remarkable achievements, holding a Bachelor of Arts degree in English, a Master’s degree in Library Science from the University of Ibadan, Oyo State, and a Master’s degree in Business Administration from the Enugu State University of Technology, Enugu State.
“Additionally, she earned diplomas from the Maastricht School of Management and the Ghana Institute of Management and Personnel Administration, Ghana.
“Uyai epitomized the virtues of family, community service, and inclucivity. Her life was charaterised by a deep-rooted compassion and devotion to God.
“Uyai is survived by her husband, Ray Ekpu, and three children: Elu Ray Mbakwe, Mfoniso Ray Ekpu, and Edikan Ray Osho.
“She leaves behind six grandchildren, as well as her elder sister, Eneanwan Inyang, a retired educator, and a multitude of other relatives.”
As the shock wave occasioned by the exit of former Deputy Speaker of the House of Representatives, The Rt. Honourable Emeka Ihedioha from the Peoples Democratic Party PDP on Tuesday April 23 2024 continues to reverberate, the National Secretary of the Party, Senator Sam Anyanwu has called on members in Imo state to embrace unity, cohesion and eschew all acts capable of breeding misunderstanding and rancour within the party.
The gubernatorial flag bearer of the PDP during the recently held governorship election urged party faithful in the state to come together, respect and support party leaders,and other constituted authorities ,in the match towards reinventing the fortunes of the party .
This is even as he has emphasised the need for the leadership of the PDP in Imo state to unite ,as well as respect members’ interests and aspirations, and carry along all in the running of the affairs of the party.
The National Scribe of the opposition PDP, who spoke on Wednesday April 24 ,in a statement issued by his media Adviser Ikenna Onuoha urged members to obey the party and its rules and regulations ,while expressing confidence that the party will, in no distance time, bounce back to reckoning in Imo state .
Senator Anyanwu noted that it does not make sense for party members to sabotage and pay lip service to the growth and development of the PDP, and at the same time expect to realise their political ambitions on its platform,warning that PDP at all levels will no longer tolerate any acts of misconducts from its members.
“As members of the PDP at all levels,we are expected to respect constituted authorities ,abide by the party’s constitution, and work towards the growth and development of our party. No individual is bigger than the PDP
“In as much as PDP is not happy with those involved in anti-party activities, it will not condone the use of uncouth language on former members .This is in line with our party’s vision for social stability and for human dignity” Senator Anyanwu warned
Senator Anyanwu who is widely believed to be the political crony of the former Rivers state Governor and current Minister of the Federal Capital Territory FCT ,Nyesom Wike, further stated that the PDP, as a party was not established for anybody, but rather for every body, adding that members will begin to value the PDP ,the very moment they come to terms with the fact that it was formed to cater for the interest of all .
He is called the white lion. As the Governor of Kogi State, he oozed power. He was an emperor, and thumped his feet where even Angels feared to walk. He also had a thick skin. Hardly moved by anything. But all that has been rubbished by a woman. The fear of a woman has condemned Yahaya Bello to a fugitive in his fatherland.
According to the Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, a Lawyer, Bello is in the mess he is today because he is scared of a woman.
Speaking to Journalists at the EFCC Headquarters in Abuja on Tuesday, Olukayode said he did not initiate the case against Bello, but inherited the case file. When he read the case file, the Chairman said he, personally, put a call across to Bello, which he admitted, he ordinarily shouldn’t have done, and asked him to come over so they would iron things out.
But the EFCC Chair said Bello said he was afraid of an unnamed woman who he, alleged, already caged him, and ready to embarrass him at tye EFCC.
The Chairman said he reassured him he would be safe, and promised that he would make sure the former Governor would be given privacy and interrogated in a private office on the Chairman’s floor. He revealed that when Bello continued to express fears, he went further and offered to allow him use the Chairman’s private door on arrival to the EFCC Headquarters. But Bello asked the EFCC to come and talk to him in his village.
He, also, revealed that Bello, just before he left office as Governor, dipped his hands into the State treasury, and took the sum of $720,000 to pay his son’s school fees in advance.
Olukoyede: “A sitting Governor, because he knows he is going, moved money directly from Government to Bureau de Change, used it to pay the child’s school fees in advance, $720,000 in advance, in anticipation that he was going to leave the Government House.
“In a poor State like Kogi, and you want me to close my eyes to that under the guise of ‘I’m being used.’ Being used by who at this stage of my life?”
On the EFCC’s present face-off with Bello, Olukoyede said:
“I didn’t initiate the case; I inherited the case file. I called for the file, and I said there are issues here.
“On my own, I called him, which I am not supposed to do, just to honour him as an immediate past governor.
‘Sir, there are issues. I’ve seen this case file. Can you just come let us clarify these issues?’
“He said, ‘Ha! Thank you, my brother. I know, but I can’t come. There’s one lady that has surrounded EFCC with over 100 people to come and embarrass me and intimitade me.’
“I said if that is the issue, I’m going to pass you through my own gate, and you will come to my floor. We will accord you that respect. I will invite my operatives; they will interrogate and interview you in my own office. What could be more honourable than that to allay the fear?
“You know what he said: ‘Thank you, Sir, but can’t they come to my village”?
The former Governor outsmarted EFCC operatives when they went to his Wuse, Abuja, residence a few days ago to arrest him. After a face-off which lasted hours, Bello escaped, allegedly, in the official car and company of his successor, Go Usman Ododo who drove in while the siege lasted.
The EFCC has since declared the former Governor wanted after it obtained a warrant of arrest from a Court. But Bello insists another Court had restrained the Commission from arresting him.
The relentless persecution of Mr. Godwin Emefiele must now stand out as the most defining act of the Tinubu near one-year old Presidency.
For 11 months, in fact, immediately after his inauguration, President Tinubu had set on a hot pursuit of Emefiele who was Nigeria’s apex bank head for about nine years.
Tinubu’s first task indeed, was to grab Emefiele like a common criminal and had him sequestered. A detention that was to last about six months.
Emefiele was yanked off his tenured job as Central Bank governor without due process; and since then he has been subjected to the most intense scrutiny ever visited on a public official in Nigeria.
IN SEARCH OF EVIDENCE TO NAIL HIM:
It wasn’t that Emefiele was arrested on suspicion of committing a particular crime, no. He was framed up ab initio and accused of terror financing. But as it has turned out, this was a ploy by President Tinubu to kick him out of office and switch on his vendetta machine against Emefiele.
After he was ignominiously removed as CBN governor, there begins a mad hunt for evidence to jail Emefiele. So for the past 11 months, Tinubu is still searching for just any incriminating evidence to put Emefiele away. He is yet to find one.
How do you arrest and detain a man not even on suspicion that he has committed an offence, but just because you want him in jail?!
That’s of course, reminiscent of evil regimes across human history, that frame up opponents and innocent citizens on trumped up charges in order to do away with them or silence them.
Author: Steve Osuji
A DIMINUTION OF THE PRESIDENCY:
This singular Emefiele conundrum has defined and utterly diminished Tinubu and his presidency to no end.
First, Tinubu is now cast in the perception of many Nigerians as small-minded, vindictive, unstatesmanly and unwise.
When you have won a major diadem you are supposed to be magnanimous. Magnanimity is the first act of great leadership. The ability to reconcile the injured and the beaten down. A true leader deliberately seeks denouement; fosters peace and a wholesome environment all round.
But a president pursuing without let, an official who acted under authority, who may have injured him in the course of duty, is poor judgment indeed. This chase, as now apparent to all, is APC politics taken to a ridiculous level. treduces the president in stature and character while on the other hand, boosts and edify Emefiele mire as the days go by.
As Tinubu continues to probe Emefiele without finding anything significant to convict him, Nigerians will begin to appreciate the true persona of the taciturn banker.
Yes, the world watched with consternation as Emefiele prepared an open pitch in the last Presidential fray. He didn’t cover himself with glory in that quest.
But that doesn’t amount to a criminal offence. If anything, it’s a pardonable infraction.
Anyone conversant with the Tinubu-Emefiele tango would think the banker hefted CBN’s vaults to his house. Yet in all the intense investigations, not a dime has been found on him.
The DSS kicked off the witch-hunt, followed by the EFCC and Special Investigator, Mr Jim Obazee completed the cycle of folly.
But just when Nigerians thought the charade had closed, now this:
THE DELOITTE FACTOR, NASS AND NATIONAL SECURITY:
Deloitte is not only the biggest accounting firm in the world, it’s an omnipotent capitalism tool.
First, they don’t come cheap and two, they play deep in the murky waters of global power politics. Their invoice is in millions of dollars. We wager that Nigeria may have paid a couple of billions of naira to secure the services of Deloitte.
But that’s the small worry.
The big deal is that in the pursuit of Emefiele, Nigeria may have been made vulnerable through the giving away of critical financial intelligence and data.
The Tinubu administration stealthily engaged Deloitte Consulting to review CBN’s forex transactions in Emefiele’s time.
Even if we overlook the huge cost of hiring Deloitte to nail one man, what about the security implications of exposing the entire labyrinth of Nigeria’s financial hub to a capitalist agent like Deloitte. No wise sovereign would expose the rumps and innards of her Central Bank in this manner.
Where was the National (NASS) when the FG contracted Deloitte to rummage through CBN files of nearly a decade!?
GOING FORWARD:
Minders of the president must whisper to him that it’s time for closure in his tango with Emefiele. If only for the reason that it’s been going on for almost one year. Second, it sure has been distracting and costly.
However, a far more pernicious cost of this long-drawn vendetta against Emefiele, is it’s negative impact on the president. Pursuing Emefiele has rubbed off poorly on Tinubu and his administration. Not disregarding the collateral injuries on the judiciary, the DSS and the EFCC.
Since it has become clear that probing Emefiele is not a fight against corruption but an extension of APC’s presidential dog fight, an out of court closure and a presidential amnesty would be a most honourable denouement.
Wisdom must be allowed to prevail in the interest of all.
Osuji, an accomplished Journalist, Writer, Columnist was Media Adviser to former Governor, Imo State, Rt. Hon. Emeka Ihedioha
In its determination to shore up internally generated revenue IGR and realise the vision and mission of driving the state’s Gross Domestic Product GDP from its present $4.4billion to $30 billion, the Enugu state authorities on Wednesday April 24 announced a crackdown on touts ,illegal motor parks operators and all other illegal revenue collectors in the state.
The ban on the activities of illegal revenue operators is also to facilitate free movements of persons ,goods and services ,and improve logistics and supply chains operations in Enugu state .
Professor Chidiebere Onyia, Secretary to the State Government. SSG who disclosed this in statement read out to the media in Enugu on Wednesday April 24 2024 ,noted that by the new development ,all existing Produce and Haulage Revenue Collection contractual agreements entered into by Ministries and Governmental Agencies have been canceled .
According to him ,such revenue collection services ,will now be rendered by some Service Hubs to be set up in collaboration with Heavyhaul Services LTD ,so as to meet the needs of all operators within the system.
” The Enugu state Government recognises the pivotal role of efficient logistics and transportation infrastructure in driving our target to grow our economy from $4.4 billion. to $30 billion and make the state the preferred destination for business ,investments ,tourism and for living.
Therefore, the Government notes with dismay the reports of the incessant harassment and extortion of motorists and transporters by touts and hoodlums ,who masquerade as revenue collectors in some parts of the state .
In order to stem the excesses and ensure a free movement of persons ,goods and services,as well as improve logistics and supply chain operations in Enugu state ,the Enugu state Government hereby orders such extortionists to clear off the roads, as anybody caught engaging in such activities henceforth will be arrested and made to face the full wrath of the law .
All local government areas are to take note and ensure full compliance with this directive. Again to improve logistics and supply chain operations and address the challenge of multiple taxations on the high way ,touting and all sorts of criminalities committed by non state actors ,the Enugu state Government announces the establishment of Service Centres at strategic locations across the state in partnership with Heavyhaul Services Limited” Prof Onyia stated
The service centres, according to the SSG will render wide range of services such as checks on livestock health and agro- produce diagnostic, ensuring that arms and other dangerous items are not brought in to the state ,and other ancillary services,as will be determined by circumstances.
The Registrar of Joint Admissions And Matriculation Board Professor Ishaq Oloyede has identified impersonation as the most pronounced case of examination cheating facing the conduct of the on going Unified Tertiary Matriculation Examination UTME across the country.
This is even as he has revealed that currently, a father and his son are cooling their heels in detention for alleged impersonation .
The JAMB Registrar who disclosed this in Kaduna on Wednesday April 24 2024, while addressing the media after an inspection tour of some of the UTME centres in the state ,warned that all those who indulge in exam malpractices will be apprehended if not immediately, much later.
According to him ,JAMB has put in place an efficient technological device to monitor those who may want to cut corners during the conduct of its examinations.
” Across the country most of the cases of malpractices recorded bordered on impersonation. For instance ,we say we have NIN ,and we now have cases of some people with two NINs and that has defeated the purpose of the identity verification. We are going to take that up with the National Identity Management Commission. NIMC and let them know that there are people who have two National Identification Numbers. NIN
Now we have a case of a father impersonating his son ,writing examination for the son and I wonder ; are you not destroying your child’s future? Of course two of them are now in custody .
And now I can’t understand what the father will be telling his son with them locked up in the same detention facility.This however did not happen in Kaduna . But I will not reveal the state it happened.” Prof Oloyede stated .
But despite,some of the observed lapses and shortcomings ,the JAMB Registrar ,thumped up the conduct of this years UTME ,adding that future exercises will be even better.
He therefore called on Nigerians ,particularly parents to desist from engaging and or encouraging examination cheating ,noting that such practices no longer pay ,as the Examination body is now ready to check all misconducts through technology.
Prof Oloyede warned that all those who missed the examinations owing to no faults of JAMB , should forget about the exercise, insisting that the Examination Body can not spend another round of Millions of Naira to conduct another examination for a few candidates who missed out owing to personal negligence.
The Joint Admission and Matriculation Board (JAMB), has disclosed that no fewer than 1.94 million candidates sat for the 2024 UTME examinations in the country.
JAMB Registrar, Prof. Ishaq Oloyede, said this on Wednesday, in Kaduna, while inspecting Computer-Based Test (CBT) centres in the state amidst the ongoing JAMB examinations.
He added that at the end of the examination on Wednesday, there would be less than 100,000 candidates remaining in Lagos, Benue and other states in the country.
Oloyede explained that the pace at which JAMB cleared candidates and captured biometrics made the exercise faster noting that this was part of JAMB’s re-engineering process towards ensuring hitch-free exercise.
“Even today, I have seen something which we need to improve on, but most importantly, we have done so many things in the background to make the exercise faster, more efficient and better. We have increased the level of automation.”
The Registrar frowned at examination cheaters, saying “It does not pay”. He said that most of the problems JAMB faced were impersonation.
He specifically said most of the cases were candidates who have double National Identification Number (NIN), adding that JAMB would take up the issue with the National Identity Management Commission (NIMC).
“The important thing is that we are ahead of the impersonators, we have arrested a father writing examinations for his son, the kind of parenting in this generation is uncalled for, I wonder what the father will tell the son if they are locked up in the same cell.
“We now have the facilities to check all sorts of impersonation and other malpractices.”
The registrar, however, thanked parents for their support, recalling that in previous years; they were seen loitering around examination centres disturbing.
“There is no report this year of parents intruding, except one state. In that state, they felt since the first session failed, their children should not continue with the second or other sessions.
“Out of the country’s 775 centres, those who failed were not up to 20, and only one failed. Less than 30 of the centres failed at the first session because of ill preparation.
“When such things happen, the candidates should stay aside for the next session to move because questions are designed individually for a candidate.”
