Home Blog Page 1389

PSC Promotes 1607 DSPs, 158 Professionals Included; “Commission Has restored  Dignity Of Specialist Cadre” – Arase

By
The Source
-
0
Police Promotions

The Police Service Commission has approved the promotion of 1607 Deputy Superintendents of Police to the next rank of Superintendents.

The Commission had earlier stepped down the consideration of the Officers  promotion at its last Management meeting where other recommendations  were considered, when it noticed some discrepancies in the list.

The promotion of the DSPs to SPs saw the elevation of 158 Officers in the Professional cadre  which included 105 in the Communication unit, 22 in Transport, 10 Medical officers,  nine Nurses and another nine from Works.

The other professionals promoted to Superintendents were six Workshop Officers, three Maritime, and one each from Medical and Dental units and Band.

A total number of 1423 DSPs were promoted in the General Duty cadre.

Chairman of the Commission,  Dr. Solomon Arase, CFR, Retired Inspector General of Police said the Commission has restored the dignity of the Specialists cadre in the Nigeria Police Force.

Dr. Arase said the Commission will continue to give equal opportunities to  all cadres in the Nigeria Police Force adding that the era where Specialists are stagnated in one rank is now history. He noted that the Nigeria Police Force needs these Specialists for efficient and effective Policing and promised that the Commission will continue to accord them the required privileges.

He also noted that the General duty Officers will continue to receive the support of the Commission in the area of prompt and regular promotions. He challenged the newly promoted officers to reciprocate the Commission’s gesture by rededicating themselves to the service of the nation.

Dr. Arase warned that the Commission will not hesitate to discipline any of the Officers who undermines the ethics, rules and regulations guiding their conduct. He also warned them to stay clear of land matters  and recovery of rents and other minor issues that can be resolved through alternative dispute resolution or legal processes. “You need to concentrate in helping the nation win this war against insurgency and banditry  and also remember that the Police is the lead Agency in internal security”, he admonished them.

Some of the promoted Officers are the  Public Relations officers  for Anambra and Delta states, Tochukwu Anthony Ikenganyia and Bright Edafe. Others are Clement Ominiyi Awoyemi, Salami Ganiyu, Dogo Mathew, Finedon Akah, Attahiru Umar, Adamu Wakili, Constance Katu Ekeh, Nuhu Danjuma and Yaha Bashir.

The list also include, Iwuji Barnabas Iliya, ADC to the Rivers State Governor;  Samson Ekeinde ,Officer in charge, Safer Highway, Bayelsa State Command; Clement Gladys C, Lagos Command; Usman Nureni and Adibeli Joy.

Enoch Suleiman, Officer in charge of Surveillance,  Zone 5 Benin; Sidi Umar Ahmad, technical Assistant to the DIG Training  and Head of IGP Smart Force Management  and Data Base Centre; Patrick Chinwe Anike, Divisional Crime Officer 1, 9th mile Division, Enugu State Command;  Ben Orih, Unit Commander 28 PMF, Umuahia; Nwanaga Innocent Okpuru, OPTS Officer, SPU BASE 28 Owerri, Imo state; Isa y. Ladan, Department of Operations,  Rivers State Command and Moses Omale were some of the other DSPs that got the Commission’s approval for promotion to the next rank of Superintendents.

The approval has been officially communicated to the Inspector General of Police for implementation.

Appeal Court  Affirms Abure Labour Party National Chairman

By
Akinwale Kasali
-
0
Julius Abure

By Akinwale Kasali

Julius Abure has been affirmed as the substantive National Chairman of the  Labour Party, LP, by the Appeal Court.

At the Court of Appeal Abuja Division, Wednesday March 6th, 2024, the Appellate Court, in a unanimous decision by a three-member panel of Justices, vacated an order of the High Court of the Federal Capital Territory, FCT, Abuja, which barred the Abure-led Executives from piloting the affairs of the political party.

The High Court order was a fallout from a suit that was filed by the Chief Lamidi Apapa-led faction of the party.

In the ruling he delivered on April 5, 2023, Justice Hamza Muazu restrained Mr. Abure from parading himself as the National Chairman of the LP.

He equally barred Umar Farouk Ibrahim, Oluchi Opara and Clement Ojukwu, from further functioning as National Secretary, National Treasurer and National Organising Secretary of the party, restrictively, pending the determination of a suit before it.

The restraining order followed an ex-parte application that was brought before the court by eight aggrieved members of the party loyal to the Apapa faction.

The suit marked: CV/2930/2023, which has the LP as the 5th Defendant, were: Mr. Martins Esikpali John O., Lucky Shaibu, Isah Zekeri, Omogbai Frank, Abokhaiu Aliu, Ayohkaire Lateef, Job Elomah and Dr. Abayomi Arabambi.

The plaintiffs had, through their team of lawyers led by Chief James Ogwu Onoja, SAN, prayed the court to among other things, declare that, “the 1st Defendant (Abure) cannot continue to function in office as the National Chairman of the 5th Defendant as a result of his suspension by the Ward 03 Executive, Arue, Esan North East Local Government Area dated 31st March, 2023”.

They further prayed the court for; “A declaration that the 1st — 4th Defendants cannot continue to remain in office as National Chairman, National Secretary, National Treasurer and National Organising Secretary of the 5th Defendant consequent on the prima facie case of forgery, perjury and conspiracy established against them by the Commissioner of Police F.C.T and the High Court of the Federal Capital Territory pending their prosecution in court.

“ A declaration that the 1st — 4th Defendants lack the moral and legal standing to continue to function in office as the National Chairman, National Secretary, National Treasurer and National Organising Secretary of the 5th Defendant having been indicted upon established prima facie case by the Commissioner of Police, F.C.T and the High Court of the Federal Capital Territory, Abuja.

An order directing the 1st Defendant to vacate office as the National Chairman of the 5th Defendants based on the communique issued by the Ward 03 Executive, Arue, Esan North East Local Government Area of the 5th Defendant, Edo State Chapter dated 31 st March, 2023.

“An order directing the 1st , 2nd , 3rd and 4th Defendants to vacate office as the National Chairman, National Secretary, National Treasurer and National Organising Secretary of the 5th Defendant having been indicted upon established prima facie case by the Commissioner of Police, F.C.T and the High Court of the Federal Capital Territory, Abuja.

“An order directing the National Executive Committee and the National Working Committee of the 5th Defendant to appoint interim National Chairman, National Secretary, National Treasurer and National Organising Secretary for the 5th Defendant pending the convention of the 5th Defendant for such purpose”.

As well as, “an order of perpetual injunction restraining the 1st, 2nd, 3rd and 4th Defendants from henceforth parading themselves as the National Chairman, National Secretary, National Treasurer and National Organising Secretary respectively of the 5th Defendant”.

However, following the dismissal of a preliminary objection he filed to challenge the competence of the suit as well as the ex-parte orders, Abure took the case before the Court of Appeal.

Delivering judgement in the matter on Wednesday, the appellate court, in its lead decision that was read by Justice Hamma Barka, faulted the lower court which it said wrongly assumed jurisdiction in the matter.

The appellate court held that the case of the Plaintiffs was incompetent, noting that since they raised issues that bordered on fraud and criminality, they ought to have commenced the action through a Writ of Summon which would allow the parties to call witnesses and tender relevant evidence before the court.

It maintained that Justice Muazu was wrong when he held that the case could be effectively determined through an Originating Summon.

“Unless an action is initiated by a proper process of law, the action becomes a waste of time despite how competent it may be.

“ The aim of an Originating Summon is to speed up the process. But where there are serious issues of fact, it should not begin with an Originating Summon,” the appellate court held.

It further queried the statutory powers of Ward Executives of a political party to suspend National Officers of the party.

More so, the appellate court held that issues the Plaintiffs raised before the high court, bordered on the domestic affair of a political party which no court was permitted to delve into.

Aside from upholding Abure’s appeal marked: CA/ABJ/CV/559/2023, the appellate court awarded a cost of N1million against the Respondents.

IMF Urges President Tinubu To Prioritize Food Security

By
Akinwale Kasali
-
0

By Akinwale Kasali

The International Monetary Fund, IMF, has asked the  Federal Government to pay immediate attention to food insecurity in the country.

The IMF made its position after known in its End-of-Mission statement issued after the completion of the IMF Staff 2024 Article IV Mission to Nigeria.

The IMF said addressing food insecurity should be an immediate priority of the Federal Government.

Stating that the President Bola Tinubu’s Government inherited a difficult economic situation marked by low growth, low revenue collection, accelerating inflation, and external imbalances built up over the years, IMF said: “Addressing food insecurity is the immediate priority.

The recent approval of a well-targeted and effective social protection system is an important step towards addressing food insecurity in Nigeria, and its implementation will be crucial.”

It said the decision by the Monetary Policy Committee, MPC, to further tighten monetary policy would help contain inflation and pressures on the Naira.

The statement said an IMF team, led by Axel Schimmelpfennig, IMF Mission Chief for Nigeria, visited Lagos and Abuja from February 12 to 23, 2024, to hold discussions for the 2024 Article IV Consultations with Nigeria.

It said the team met with the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and Governor of the CBN, Olayemi Cardoso and some other senior government and CBN officials, ministers and representatives of sub-nationals, private sector, and civil society organisations, CSOs.

The statement said that at the end of the visit, Schimmelpfennig issued the following statement: “Nigeria’s economic outlook is challenging. Economic growth strengthened in the fourth quarter, with Gross Domestic Product, GDP, growth reaching 2.8 per cent in 2023. This falls slightly short of population growth dynamics.

“Improved oil production and an expected better harvest in the second half of the year are positive for 2024 GDP growth, which is projected to reach 3.2 per cent, although high inflation, Naira weakness, and policy tightening will provide headwinds.

“With about eight per cent of Nigerians deemed food insecure, addressing rising food insecurity is the immediate policy priority. In this regard, staff welcomed the authorities’ approval of an effective and well-targeted social protection system.

The team also welcomed the government’s release of grains, seeds, and fertiliser, as well as Nigeria’s introduction of dry-season farming.”

Schimmelpfennig said recent improvements in revenue collection and oil production are encouraging.

He said Nigeria’s low revenue mobilisation constrains the government’s ability to respond to shocks and to promote long-term development.

“Non-oil revenue collection improved by 0.8 per cent of GDP in 2023, helped by Naira depreciation. Oil production reached 1.65 million barrels per day in January as a result of enhanced security.”

Stop Elongation Of Teachers’ Years Of Service; Ondo Workers Urge Gov Aiyedatiwa

By
Ayodele Oni
-
0
Lucky Aiyedatiwa

By Ayodele Oni

Some public workers in Ondo State have advised Ondo State Government to jettison the planned move to elongate years of service of teachers to 65 years.

The workers, who wrote a letter to the State Governor, Lucky Aiyedatiwa, and the State Head of Service, Mr Bayo Phillip called on them to immediately suspend the policy, but rather consider giving jobs to some of teeming unemployed graduates.

The Concerned workers described the policy as unpopular and anti- youths who are unemployed in the state.

The concerned workers whose letter was signed by two of their members, Aiyenigba Olatunji and Johnson Ojo, said the policy would lead to redundancy in the teaching profession.

“We are deeply concerned that the recently announced policy of elongating years of service for teachers may undermine the progress that has been made and jeopardize the future of education in the State. No society jokes with productive and active populace.

“The National Council of Establishments has rejected the proposal for elongation of service for Public Servants, citing the potential negative impacts.  In place of this request, the Council encouraged the government to focus on creating more job opportunities.

“We share the Council’s concerns, and believe that this policy would be detrimental to the interests of both teachers and the State.

“Anybody above 60yr-old or to have spent 35yrs in service can no longer stand for hours to teach. Therefore, the policy is unpopular but some former appointees misled and took the advantage of ill-health of late Governor Former, Arakunrin Rotimi Akeredolu to approve the policy.

“We (concerned workers), therefore, appeal to Your Excellency to suspend the policy through the new Head of Service and review it properly in the overall interest of the state. Sir, you can order independent investigation, you will surely know is a very unpopular policy Sir.”

Edo Deputy Gov Shuaibu On His Way Out As He Faces Perjury Charge, Assembly Begins Impeachment Procedure

By
Ayodele Oni
-
0
Philip Shuaibu - Edo Deputy Governor

By Ayodele Oni

The Edo House of Assembly has confirmed receipt of a petition against the Deputy Governor of the State, Philip Shuaibu, signalling commencement of impeachment proceedings against him.

The Majority Leader, Charity Aiguobarueghian, who announced the impeachment notice during Plenary on Wednesday, explained that the petition was dated March 5, and signed by 21 out of the 24 members against the Deputy Governor.

Aiguobarueghian stated that the members who signed the petition were more than the two- third requirement  stipulated in the constitution.

He also announced that the petition was based on two grounds of alleged perjury and revealing of government secrets.

The speaker of the House, Blessing Agbebaku, who acknowledged receipt of the petition, directed the Clerk of the House, Yahaya Omogbai, to serve the impeachment notice on the Deputy Governor.

Agbebaku also gave the Deputy Governor seven days to respond to the notice of impeachment.

Shaibu’s resolve to participate in the governorship primary election of the People’s Democratic Party (PDP) contrary to the stand of Governor Godwin Obaseki, may be responsible for his latest predicament.

Coalition of Registered Political Parties in the state, at a meeting in Benin, had resolved that the plan by the State Governor, Godwin Obaseki  and the State House of Assembly under the leadership of Blessing Agbebaku, to impeach the Deputy Governor, Philip Shaibu “can ignite a chain reaction which can lead to anarchy.”

The CRPP Chairman, Samson Isibor and Secretary, Barrister John Isidhaome in a statement they signed said: “We implore the governor to jettison the idea of impeachment and work towards the peaceful transition of power to the next governor of Edo State.

“As far as we are concerned, the Deputy Governor has not committed any impeachable offence or breached his oath of office.

“The Edo people have the exclusive right to call for his impeachment if he commits any grievous offence like corruption, misappropriation of public funds etc.”

How Ekiti APC Chairman, Paul Omotoso Died

By
Ayodele Oni
-
0
Paul Omotoso

By Ayodele Oni

The All Progressives Congress  (APC) in Ekiti state has confirmed the death of its Chairman, Paul Omotoso.

The Party, through its Spokesman, Segun Dipe, in a statement explained that the deceased was still actively in office on Tuesday attending to visitors and official matters.

The statement reads “We are sad to announce the passing of State Chairman of the All Progressives Congress, APC, in Ekiti, Barrister Paul Ayodele Omotosho.

“The sad news broke yesterday, Tuesday, March 5, 2024, at about 9.00pm.

“Barrister Omotosho was still actively present in the office same yesterday till the close of work. His death could not be immediately traced to any known sickness.

“He, however, complained of fatigue and slight fever at about 4.00pm and opted to go home to rest. He was to be rushed to the hospital later at about 7.00pm when the pain increased but gave up the ghost after.

“Barrister Omotosho will be remembered for the positive contributions he made to the party, especially during his tenure as the Chairman from 2018 to his last breath. He ran the affairs of the party commendably.. with victories at the poll.”

It was, however, gathered that the late chairman’s health deteriorated last year, shortly after he was released by kidnappers, who abducted and kept him for five days before his release.

Uzodimma Names Onuegbu Head Political Bureau

By
The Source
-
0
Enyinnaya Onuegbu

Governor of Imo State, Senator Hope Uzodimma has appointed his pioneer Commissioner for Lands and Survey, and subsequently Commissioner for Power, Barr. Enyinnaya Onuegbu, as the Head Political Bureau of his administration.

Onuegbu’s appointment takes immediate effect.

Until recently when Governor Uzodimma dissolved his cabinet,  Onuegbu was the Chief Political Adviser and Head Political Bureau.

Onuegbu, an ex-officio member of the All Progressives Congress (APC), is not only a committed member of the Party but has demonstrated capacity on its course using his many years of active experience in legal practice.

He hails from Ngor Okpala Local Government Area of Imo State where he serves as the Traditional Prime Minister of his community and goes with title of Ebekuodike.

In congratulating Onuegbu, Governor Uzodimma urged him to continue to show commitment to the mission and vision of the 3-R Government Imo State, deploying his wealth of experience in the traditional, political and legal institutions in the office entrusted in his care.

Disinformation & Propaganda Elevated To An Act In Abia State

By
The Source
-
0
Alex Otti

By Dodoh Okafor

The attention of the Abia State Government has been drawn to a well-coordinated campaign of disinformation sponsored by mischievous political interests in pursuit of an unwholesome, self-serving agenda.

A few examples would suffice.

About a fortnight ago, information began to circulate across social media platforms announcing that the Abia State Governor Dr Alex C. Otti, OFR, had dragged President Bola Ahmed Tinubu, GCFR, to the International Criminal Court (ICC) in The Hague for allegedly refusing to grant the request of the Abia State Government to establish a seaport and an international airport in the State.

While this, on the surface, would have served as good comic relief to informed audiences knowing there was nothing to support such claims, something more sinister was buried in the next paragraph.

The author(s) claimed that Governor Otti had in addition to his alleged legal actions against the President also “banned” traders from a section of the country from doing business in the State.

The aim was to instigate hatred against Governor Otti from a section of the country and then incite a misinformed mob against hardworking Nigerians in a supposed retaliation.

Thankfully, many critical readers who saw through the shenanigan readily dismissed it for what it is: a hideous attempt at disinformation.

Days after the initial fake news was planted and circulated by dangerous elements hiding behind pseudonyms, the untiring detractors moved a notch higher.

They attempted to set Governor Otti against his brother governors by attributing to him, a completely made-up statement.

The purported quote claimed that the State Governor said that when he is done executing just 5% of his grand plans for the State, other Nigerians would stone their respective state governors.

Had Nigerians not known Dr Alex Otti to be a very measured fellow, ever conscious of his remarks in public and private spaces, the reaction would have been entirely different.

It is a well-known fact that Governor Otti, despite his numerous accomplishments in the private sector and now in the political space, remains an assuming man.

He has maintained a modest approach to life, treating everyone who comes across him with a genuine sense of compassion, love and respect.

He would therefore, never in a million years, suggest to anyone that he is superior to his other brother governors.

In another run of fake news, the mischief makers made a fresh attempt to set Dr Otti against ordinary Nigerians by attributing an out-of-character quote to the Governor, claiming he boasted that his “sons” are billionaires.

To begin with, the governor does not have “billionaire sons” and there is nothing to suggest that any of his children, male or female, lives a “billionaire” lifestyle.

Not one shred of evidence can support this.  Governor Otti has always restricted himself to issues of genuine importance in all his public engagements and could not have told anyone he is serving the public with great enthusiasm only because his “sons are billionaires.”

What then was the intention of those who authored and spread this apparent misinformation?

Simple: they want to join the Governor to the league of those who abuse public trust by making government offices a family affair, a system Governor Otti boldly fought against.

Beyond these specifics, we have noticed the desperation of various opposition politicians and their minions within the State to deceive the public with wild tales and concocted speculations.

One claimed that “Otti borrowed “100 billion” from one commercial bank and took another “N50 billion” facility from another bank.

They are also going about telling unsuspecting individuals about dollar denominated loans that had been accessed by the present Abia State Government.

The authors of these campaigns of falsehoods have been identified to be politically-displaced individuals in the State attempting to stage a comeback on the back of disinformation, half-truths and outright lies.

To be clear, while the State Government would at the right time approach local and international financial institutions for loans at reasonable rates to drive its development agenda following clearly laid down rules and principles, it is worth stating that at the moment, the Government has demonstrated an uncommon kind of prudence in public resources management that would make a quick dash to the financial institutions for loans totally unnecessary.

As the Governor promised in December 2023 during an address to members of the State House of Assembly just before laying the draft of the 2024 budget estimates before the House, Abia will be prudent in matters of loans, borrowing only when it is absolutely necessary and never to meet a recurrent obligation as all borrowings must be tied to verifiable physical development projects within the State.

In the light of the fact that these desperate attempts at using the media to malign and attack the personality of the Governor and ridicule the modest attempts the State government is making to reverse what had been decades of man-made setbacks and declines in our collective fortunes leading to total collapse of public infrastructure and the elevation of recklessness to the status of a statecraft would continue, and perhaps get more intense,  members of the public are encouraged to be very circumspect with information coming from suspicious sources and channels, especially in the unregulated social media space which has been established to be a double-edged sword; a force for great good and a forceful leverage for the perpetuation of mischief.

Information regarding the activities and programmes of the State Government and the governor are readily accessible through the website of the State Government, www.abiastate.gov.ng, the governor’s personal website www.alexotti.com, and through his official and verified social media handles or those of his aides.

Any information not sourced from any of these channels or through reputable media platforms must be meticulously evaluated for consistency with the Governor’s character and philosophy.

The Governor wishes to restate his commitment to genuine, selfless and accountable service to the people.

He would remain focused and can never be distracted by the shenanigans of cynics and naysayers. Governor Otti was elected in March 2023 to serve the great people of Abia State as governor for 4 years.

No other agenda is as important to him right now as faithfully executing the functions of the office he sought in faith and on the conviction that he has a superior value to offer the Abia electorate.

He is therefore never going to lose sight of his covenant with God’s people who worked and prayed relentlessly for the liberation of the State from the hold of sinister forces and their minions, the very same persons attempting to get back to public reckoning through dubious means.

Okafor is Senior Special Assistant to Governor Alex Otti on Public Communications

Attack On Abure Is Part Of Plots  To Stop Peter Obi In 2027

By
The Source
-
0
Peter Obi and Julius Abure

By Suleiman Anyalewechi

The National leadership of Labour Party, LP, has assured that its national leader and Presidential candidate during the last general elections Peter Obi does not have any plans to dump the party.

This is even as they have said that the well rehearsed and sustained media attack on the National Chairman, Julius Abure, is targeted at Obi who is being perceived as a threat by some political forces in the count down to the 2027 political contest.

In a statement issued by its National Publicity Secretary, Obiora Ifo on Tuesday March 5 2024, LP noted that the recent attack being unleashed on the National Chairman over alleged misappropriation of party funds is part of a wider plan to create disharmony between the party and its leadership ,with a view to frustrating Obi out of the party.

“We are aware that Abure is not the target of these ferocious and malicious missiles .We are also aware that huge sums of money has been mapped out to wage a propaganda war on our national leader ahead of the 2027 general elections.

“The feat of the Labour in the last general elections rattled not a few persons and the fear of the future has driven them to begin so early to prepare ahead .

“Part of the strategy is to make any political platform unviable for Obi to sail with.

“The party is also aware that any political party Peter Obi finds himself in as a vehicle for the 2027 presidential election including LP will not be spared by the political hirelings who are already recruited to dismember such a party .

” Peter Obi has severally pledged loyalty to LP due to its social democratic ideology which suits his political vision .Peter Obi will no longer fellowship with any bourgeoisie party . He is a liberator and not a ruler as seen in the other parties.” LP stated.

The National Publicity Secretary described as spurious and misleading corruption enrichment allegations against  Abure the National Chairman ,as a well calculated attempt to tar his person with a dark brush .

“The audit report gave the party a clean bill of health since 20221 when Abure assumed office .As a matter of fact, an earlier forensic audit report carried out in 2017 indicted the suspended National Treasurer for fraudulently diverting huge sums of money to personal accounts .

“Abure’s only offence is that he has refused to allow the continuation of looting while insisting that accountability must be enthroned.

“We are aware that Abure is still living in a rented apartment in Abuja and that he only recently refurbished a bungalow left for him by his late father as the first son .

“It will also interest you to know that no kobo has left the LP accounts without a co signatory, either by the National Secretary and or the National Treasurer.

“So the narrative that Abure siphoned or diverted the party funds is clearly misleading and orchestrated to muscle him out of office” LP Spokesperson noted.

Why Ghana Hammered Nigerian Banks

By
James Orji
-
0
Ghana Central Bank  has suspended  the trading foreign exchange licenses of two Nigerian banks.
The two banks, GTB Ghana and First Bank Ghana were issued a one month suspension for alleged Forex malpractices, the GCB authority said on Tuesday in a statement.
The statement however said the licences will be restored after one month if the banks are able put in place effective control measures.
The statement read: “Bank of Ghana has suspended the Foreign Exchange Trading Licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited (FBN), effective 18th March 2024, for a period of one (1) month, in accordance with section 11 (2) of the Foreign Exchange Act 2006, (Act 723).
“This is as a result of various breaches of the foreign exchange market regulations, including fraudulent documentation in their foreign exchange operations which have come to the attention of Bank of Ghana.
“The licence will be restored at the end of the one-month suspension period once the Bank of Ghana is satisfied that they have put in place effective controls to ensure strict adherence to the foreign exchange market regulations.”
The GCB further warned foreign exchange market players from infracting on the country’s extant financial  guidelines and regulations.
By this statement, we caution foreign exchange market players to adhere strictly to the applicable forex market regulations and guidelines.”

Banks React

Reacting to the suspension, the GTB Ghana said in a statement that it it’s already engaging the Ghanaian authority on the issue, the bank urged the customers not to panic.

The statement said, “we refer to the Bank of Ghana’s announcement of the 30-day suspension of our Foreign Exchange Trading Licence effective March 18, 2024, and would like to inform our valued customers and esteemed stakeholders that we are collaborating with the Bank of Ghana to rectify the identified trade-related concerns.

“This includes branch operations, agent banking partners, and channels for seamless banking. We reaffirm our commitment to our customers and stakeholders and will continue to maintain the high ethical standards we are renowned for.”

“We would like to assure all our esteemed customers and stakeholders that we are currently working with the relevant Government Agencies and customers with a view to resolving these trade-related issues timely.

Our customers and stakeholders are our primary responsibility and, Guaranty Trust Bank Ghana would like to clarify that this development does not a­ect customers’ own deposits and other business segments of our operations. All other products and services ;- Main branches, Agency Banking outlets are available for your convenient use at our regular opening hours and our Mobile Apps and Internet banking are available for your use at any time of the day.

We further assure our customers that the issue was not a function of willful non-compliance by the Bank, as the Bank has a culture that endeavours to comply with regulations at all times and stringent Anti-Money Laundering CFT policies which are applied across all our operations.

We are also in ongoing consultations and discussions with the Central Bank of Ghana to fully resolve all matters raised in the shortest possible time. Guaranty Trust Bank Ghana remains committed to being a constructive participant in Ghana’s nancial markets and to contributing to its further developments in the interest of all its customers and stakeholders.

On its part, FBN Ghana urged customers to be patience as efforts are ongoing to engage with the regulatory authority in Ghana with the aim of lifting the suspension.

According to the statement said, “we refer to the Bank of Ghana’s announcement of the 30-day suspension of our Foreign Exchange Trading Licence effective March 18, 2024, and would like to inform our valued customers and esteemed stakeholders that we are collaborating with the Bank of Ghana to rectify the identified trade-related concerns.

“This includes branch operations, agent banking partners, and channels for seamless banking. We reaffirm our commitment to our customers and stakeholders and will continue to maintain the high ethical standards we are renowned for.”

1...1,3881,3891,390...3,101Page 1,389 of 3,101