ASUU Rejects NUC Sponsored Core Curriculum Minimum Academic Standards

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June 30, 2023

By Ayodele Oni

“It’s Unfavourable to University Education” – ASUU

The Academic Staff Union of Universities, (ASUU) and National Universities Commission, (NUC) may be heading for a showdown over the Core Curriculum Minimum Academic Standards, CCMAS) prepared by the National Universities Commission.

The Union, which rejected the curriculum outrightly, said it was nightmarish, a threat to quality university education, and an erosion of powers of the university Senate.

A statement by the National President of ASUU, Emmanuel Osodeke, on Friday, explained that it is strange that NUC pre-packaged 70 per cent CCMAS contents were being imposed on the Nigerian University System, adding that University Senates, which are statutorily responsible for academic programme development, were left to work on only 30 per cent.

The statement added that there were growing concerns about the numerous shortcomings and gross inadequacies of the CCMAS documents.

“ASUU is not unaware that setting academic standards and assuring quality in the NUS is within the remit of the NUC. Section 10(1) of the Education (National Minimum Standards and Establishment of Institutions) Act, Cap E3, Laws of the Federation of Nigeria 2004, enjoins the NUC to lay down the minimum standards for all universities and other degree awarding institutions in the Federation and conduct the accreditation of their degrees and other academic awards.

“However, the process of generating the standard is as important (if not more important) than what is produced as “minimum standards.

“In this instance, the NUC has recently, through some hazy procedures, churned out CCMAS documents containing 70% curricular contents in 17 academic fields with little or no input from the universities.”

It stressed that many University Administrators, though dissatisfied, were shying away from making public comments on CCMAS.

The statement revealed that, however, some University Senates did not hide their displeasure with the ongoing efforts to impose CCMAS on Nigerian Universities by the NUC.

“The CCMAS is a nightmarish model of curriculum reengineering. It is an aberration to the Nigerian University System. The CCMAS documents are flawed both in process and in content.

“There is no basis for the 70% “untouchable CCMAS,” which cannot stand the test of critical scrutiny of university Senates.

On the way forward “NUC should encourage Universities, as currently being done by the University of Ibadan, to propose innovations for the review of their programmes.

“Proposals from across universities should then be sieved and synthesized by more competent expert teams to review the existing BMAS documents and/or create new ones as appropriate.

“The difference here is the bottom-up approach, unlike the top-bottom or take-it-or-leave-it model of the CCMAS.”

Television/Radio Newspaper Reviewers Or Blackmailers?

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The Source

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June 30, 2023

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By Oguwike Nwachuku

Those who developed the concept of Newspaper Reviews on the Television and Radio Stations, for all intents and purposes, mean well for the society.

To them, the reviews are part of measures to deepen conversation on the public understanding of the role played by one of the oldest, yet modem modes of communication, information dissemination, education and entertainment in our society – The Newspapers.

Besides, it helps to bring the newspaper reading public to speed as regards happenings around them.

But more importantly, Media Houses, through the reviews, are directly and indirectly put on their toes or if you like, held responsible and accountable when it comes to stories they published, stories they missed, packaging of copies and if possible, marketing of the brand.

Before now, those who featured as newspaper reviewers on television and radio stations were men and women of impeccable character. They were people with firm grip of the issues at stake and deep understanding of what the newspapers have to say, and to a large extent, the implication of what was published on the larger society.

That explains why most of those assembled to review the newspapers by television and radio stations were mainly media practitioners with track records of performance and excellence in the industry. I mean media professionals to the core and not those who became practitioners and answer media managers by hook or crook.

Today, not a few persons share in the thinking of yours sincerely that majority of those the public are served as reviewers of newspapers on televisions and radio stations have no business being there. I will explain shortly.

On Wednesday, June 28, 2023 to be precise, one of such persons who was featured as a newspaper reviewer on Kakaaki, an African Independent Television (AIT) morning programme, further lowered the standard of newspaper review when he completely went off tangent by making Governor Hope Uzodimma of Imo State the subject of the review.

Mr. Chuks Akunna, a supposedly Executive Director in Authority Newspaper, threw caution to the winds and descended on Governor Uzodimma in a manner that suggested he was paid to appear on the Programme to rain invectives on him while hiding under the Kakaaki Programme of newspaper review.

Even though Mr. Akunna claimed to be advising the Acting Inspector General of Police, Mr. Kayode Egbetokun, on how to deal with the (in)security around the country, particularly as it concerns states of interest to him like Kogi, Benue, Plateau and Imo, he did not hide his disdain for the Governor of Imo State as he kept reminding the presenter and his viewers about how many times he had called the governor out on the programme. Obviously, he was saying so to impress those who have paid him to castigate Governor Uzodimma.

Mr. Akunna had used his outing at the Programme to expose where he further appears – his political antecedent, friendship with former Deputy Speaker of the House of Representatives and former Governor of Imo State, Rt Hon. Emeka Ihedioha.

It was even laughable when Mr. Akunna said that because of insecurity in Imo State, most dignitaries stayed away from Ihedioha’s mother’s burial, a clear fabrication on air when viewed against the backdrop of the number of persons who graced the burial of which Ihedioha himself acknowledged.

It is in public domain that Mr. Akunna is a media consultant to the People’s Democratic Party and that alone says much about the gibberish he vomited during the Programme.

To demonstrate that he was hired to denigrate Governor Uzodimma using the newspaper review on Kakaaki as cover, Mr. Akunna went into full scale politicking about (in)security in Imo State, coming to the thoughtless conclusion that the whole idea was orchestrated by the Government of the day in Imo State for the purpose of re-electing the Governor in November. How callous an idea!

In a sane society, characters like Mr. Akunna that are easily bought and lack the discipline, temperament, training and experience to advise the public on how to deal with matters as complicated as insecurity, should not have any business appearing on such Programmes.

As someone who is cocooned in Abuja and only visits his State, Anambra State, at his convenience, it is obvious Mr. Akunna does not have the slightest knowledge of what the current (in)security situation in the South East is. If he really does, he would have been circumspect and not be in a hurry to conclude that Imo State is the nucleus of insecurity in the zone?

When every right thinking fellow from the zone is lauding Governor Uzodimma for not allowing his State in particular and South East in general to go the way of the North East as far as the impact of insecurity is concerned, because that is the wish of those Mr. Akunna is working for, he is still asking what Governor Uzodimma is doing as the Chief Security Officer of Imo State.

The tragedy of people like Mr. Akunna is that they talk before they think, speak without information, gloat over hearsay and beer parlour rumour and what is worse, think they are the best thing to happen to the society. I am sure that was what his mind was revealing to him as he was puffing at the Station and dancing around the matter before him.

Of late, we have seen too many Akunnas trying to make (in)security the centre piece of conversation for the November 11 governorship election in Imo State. We know for sure that what Mr. Akunna was paid to say at the camouflaged newspaper review in Kakaaki is consistent with what his ilk have been doing in the past one week around the State, but meeting with brick wall with the highly informed Imo electorate. It is simply a hard sell for them, something akin to pulling the horse through the eye of the niddle.

The riddle they are finding difficult to solve as they approach Imo people with their campaign of calumny with insecurity in the State is how to convince the highly informed Imo electorate that the projects that litter the nooks and crannies of Imo were not done by Governor Uzodimma.

Truth is that Governor Uzodimma has worked so hard to downgrade insecurity in Imo State. He has invested fortunes to protect the lives and property of the people he swore an oath to protect, but those Mr. Akunna consults for in Imo State have remained undaunted in seeing that (in)security is used as a factor to scare the people and discredit the government in power.

It is on record that the Nigerian Military, the Nigeria Police, the Accountants, the Lawyers, the Editors, the Catholic Bishops, and many other national and international associations have held their conferences in Imo State. I am sure Mr. Akunna and his likes knew and read about the events but mischievously chose to glibly brand Imo as the nucleus of insecurity in the South East because hatched job is believed to be in their DNA, hence they are amenable for hire by those who see Governor Uzodimma as their political foes.

Perhaps Mr. Akunna ought to be reminded that available intelligence suggests that the pockets of kidnappings, armed robberies, murders and other lethal crimes which the security operatives strive daily to contain in Imo State today are linked to hardened criminals with Anambra as their haven.

One of the greatest challenges the security agencies face trying to rid Imo State of crime today comes from the State’s border town of Ihiala.

Mr. Akunna should be bold enough to ask his Governor, Prof. Chukwuma Soludu, what he has been going through since assumption of office trying to contain the huge criminality that has become part of the communities in Anambra where kidnapping for ransome has become a way of life and has completely replaced the people’s traditional vocation, which is trading.

While the criminal aspect of sit at home order has almost lost its potency in Imo State and other South East States, it is still morning in the day in Akunna’s Anambra State, yet he had the termerity to malign Imo State and the Governor as the centre of insecurity.

Let me remind Mr. Akunna, however, that Governor Uzodimma is not going to fret over the November Governorship election. He will win convincingly and overwhelmingly because the people will troupe out enmass to corronate him as their beloved Governor with their votes.

He will not also be distracted by his unpopular view on Kakaaki since more weighty views earlier masterminded by his pay masters could not stall the laudable programmes Governor Uzodimma embarked on since taking over the reins of governance in Imo State in 2020.

As far as Imo people are concerned, the records of Governor Uzodimma’s superlative performance are there to speak for him unlike his co-contestants who have nothing to campaign with and so resort to blackmail the electorate with (in) security.

That said, Newspaper Reviews, like journalism practice, are about objectivity. They are about verifiable things and not conjecture or outright falsehood and fake review. They are not about robbing Peter to pay Paul which the likes of Mr. Akunna are trying to make the public to understand.

It is, therefore, high time the Television and Radio Stations took more seriously the kind of guests they invite to take a look at the newspapers as the character of such guests also speak volume about the intention or otherwise of both the presenters and the owners of the organisation.

Nwachuku is Media Adviser/ Chief Press Secretary to Imo State Governor

PSC Approves Police Commissioners For Five States

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Ayodele Oni

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June 30, 2023

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By Ayodele Oni

The Police Service Commission, (PSC) has reminded the Acting Inspector General of Police (IGP) to give more considerations to officers from the North-east and South-east geopolitical zones in the next posting of officers to State commands.

This is coming as the PSC released names of new Commissioners for States.

According to the Commission, the IGP, in his subsequent proposals should include more Officers of North East and South East geopolitical zones that are yet to record the benchmark of 15 percent.

The Commission had earlier promised to reflect principle of federal character and gender consideration in postings and promotion of officers.

PSC on Friday approved the appointment and deployment of eight Commissioners of Police to State Commands in the Country.

In a statement, the Police listed the newly appointed State Commissioners of Police as; Godwin Aghaulor now CP Borno State Command; Adelesi Oluwarotimi, CP Kwara State Command;

Adebola Ayinde Hamzat, CP Oyo State Command;

Augustina Ogbodo, CP Ebonyi State Command and Samuel Titus Musa, CP Kebbi State Command among others.

The Commission also applauded the Acting Inspector General of Police, Kayode Egbetokun for adhering to its latest Policy on gender sensitivity as recommended by the PSC.

2023 FIFA WWC: Crisis Rocks Super Falcons; Coach Threatens To Quit; Over Imposition Of Players

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Akinwale Kasali

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June 30, 2023

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By Akinwale Kasali

With less than three weeks to the commencement of the 2023 FIFA Women’s World Cup to be Co-hosted by Australia and New Zealand, there is crisis in the camp of the Super Falcons of Nigeria.

The Super Falcons which is making its ninth appearance at the World fiesta since the inception of the tournament in 1991 is enmeshed in crisis as team Coach, Randy Waldrum, in a recent interview on The Sounding Off Of Soccer Podcast hosted by John Krysinsky, disclosed that the Management of the Nigeria Football Federation, NFF, is trying to impose players on him which contravenes clauses in his contract.

Waldrum has threatened to quit his position as the Coach of the Super Falcons if the NFF continues to interfere in his selection of players.

He had raised concerns over the preparedness of the team ahead of the World accusing the NFF of not supporting the team, insisting that the former African Champions has endured poor preparation ahead of the tournament.

In the interview with Krysinsky, Waldrum said:

“Here in the US we have fewer days than the college pre-season to get ready for the tournament. Since we didn’t have the camp in Nigeria for three weeks like we were supposed to, and then they wanted me to put this goalkeeper that I had never seen in my final roaster of 23 players.

“She has never been in one of our camps and I refused to do it. I said I would not take a player who has never been in camp, that’s ridiculous, who would do that? This is the World Cup. I argued with them and this went back and forth for a while and I came back and set my foot down and said my contract says I can pick my team and I’m not picking her. I’m taking the three goalkeepers that I had in camps over the last two years.

“In what looked like an immediate retaliation, they said you pick your team but you can’t take your assistant coach which is Lauren Greg here in the US and she’s my right-hand coach.

“She has won the World Cup, an Olympic gold medal, she’s an icon in soccer here and now they are not letting her go. For the last two weeks, I’ve been fighting this battle trying to get her back in; I emailed, texted, and called and they wouldn’t even take a message. They don’t want to deal with it anymore. We are not prepared properly on the field, we are not prepared with staffing because the assistants that are giving me are not capable of helping in a World Cup.

“I’m sitting here and I’m leaving on Sunday and I’ve been thinking if I need to go or not. The only thing that keeps me going is the players, it won’t be fair to not go. I have to help them because I have been working with them for two years. The flip side is that there is something wrong. I can’t take Lauren and I feel like I’m disappointing her if I go and she can’t go. It’s really put us in a bad spots.”

Waldrum stressed that the NFF expelled the second goalkeeper of the Super Falcons, Tochukwu Oluehi, for demanding for unpaid bonuses.

He said that following the expulsion of Oluehi by the NFF, he was compelled to add a home based- goalkeeper into the team despite the fact that he has not met the player before.

When he refused, the NFF made sure that his assistant will not go to the World Cup with him.

According to Waldrum, after the Super Falcons lost in Morocco (WAFCON 2022), the NFF refused to pay the players and for that reason, the players boycotted training before the match against Zambia.

Waldrum disclosed that the NFF expelled Tochukwu Oluehi because they said they did not like how she spoke to them about the bonuses and they insisted that they will only forgive her if he wrote a letter of apology to the NFF.

Reacting to the allegations leveled against it by Waldrum, the NFF, through its Head of Media, Ademola Olajire, fired back at the Coach, questioning his professionalism and competence.

The NFF said they overruled the idea of camping in Nigeria because of the Coach ’s indifference to players based in Nigeria.

The NFF said it insisted that it made no sense to commit resources to such programme when the coach has always overlooked the local players.

In a Statement by the NFF, it stated that the NFF felt it would make more sense for the 23 to go straight to Australia and camp for 15/16 days acclimatising to the weather and conditions.

The NFF said it suggested a locally-based goalkeeper to the coach because it aligned with their policy to groom young players, which Waldrum bluntly refused.

The NFF is questioning Waldrum’s competence, slamming his selection of players ahead of the tournament.

“Instead of admitting his glaring deficiencies, he’s there shooting his mouth off. He knows he will not have Rasheedat Ajibade and Halimatu Ayinde (two key players) for the opening match against Canada, yet he left out Ngozi Okobi and Regina Otu from the squad”, Olajire stated.

However, the exclusion of Ngozi Okobi and Regina Otu from the team that would hoist the Nation’s flag at the World showpiece does not augur well with Okobi, who has slammed Waldrum.

An angry Okobi described Coach Waldrum as the worst in the history of the Super Falcons. She said the coach is building a defence for himself in case the team failed at the World Cup.

“He is making excuses because he is most likely to fail in New Zealand and Australia. He is just looking for a way to call the attention of the public and make excuses because he knows he is going to fail.

“Forget about our differences he is the least coach that has been coaching for our country. Even our home-based coach that took us in 2015 is far better than him. He is the least coach, he doesn’t understand football and that is why our paths can’t cross because I understand him,” she said.

Waldrum had released the 23-Players that would prosecute Nigeria’s matches at the World Cup and they include; Francisca Ordega, Assiat Oshoala, Ashleigh Plumptre, Onome Ebi, Desire Oparanozie, Chiamaka Nnadozie, Rasheedat Ajibade, Uchenna Kanu, Christy Ucheibe and Gift Monday.

Others are Halimatu Ayinde, Ifeoma Onumonu, Toni Payne, Jennifer Echegini, Michelle Alozie, Yetunde Balogun, Deborah Abiodun, Rofiat Imuran, Osinachi Ohale, Ijeoma Okoronkwo and Tosin Demehin.

The Super Falcons will play against Canada on July 21 before facing Australia on July 27. They will end their group matches against the debutants, Republic of Ireland on July 31.

Ekiti Assembly Speaker On Importance Of Private Bills

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Ayodele Oni

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June 30, 2023

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Adeoye Aribasoye - Ekiti State House of Assemlby Speaker

By Ayodele Oni

Speaker of the Ekiti State House of Assembly, Adeoye Aribasoye, has stressed the importance of private bills which will help enrich governance and improve standard of living.

He has therefore advised private individuals and groups to initiate such with a promise to facilitate their passage.

Aribasoye, who made the call on Friday, while receiving in audience members of a socio-cultural group, E-Eleven, also canvassed for synergy between the Assembly and critical stakeholders to move the state forward.

The E-Eleven members were on a visit to the Assembly Complex to congratulate Aribasoye on his recent election as the Speaker of the Seventh Assembly and signified the readiness to work with the legislature under his leadership on issues of development of the state.

He once again reiterated the readiness of the state parliament to collaborate with the state government in keeping Ekiti working towards Shared Prosperity, through a responsive and responsible legislation.

The Speaker explained that members of the public, interest groups and other non-governmental bodies are at liberty to come up with bills that can have positive impact on the lives of the citizens and transform some sectors in the state for the consideration of the state legislators.

Aribasoye, himself a member of the group, where he served as Publicity Secretary, expressed gratitude to members for their visit, stressing the readiness of the legislature to partner with other stakeholders to contribute to the growth of Ekiti in the key sectors.

He noted that E-Eleven is renowned for its progressive intervention in Ekiti and has contributed immensely to governance by producing past and present governors, members of the National Assembly, traditional rulers, top corporate players, captains of industry and very successful Ekiti indigenes at home and abroad.

While urging the body not to rest on its oars in making their state better through investment in human capital development, investment and deployment of talents and expertise in governance, the Speaker said these will complement government efforts at making Ekiti State realize the dream of its founding fathers.

Aribasoye who equally urged the E-Eleven members to feel free to offer useful advice that can enhance good governance, also enjoined the group to be more proactive and keep maintaining the highest standard of Omoluabi the group is known for.

Earlier the Chairman of the group, Chief Kola Akosile said they were in the House to felicitate and congratulate him on his emergence as Speaker of Ekiti House of Assembly.

He promised that the group will always support the state to achieve the objectives of the founding fathers.

Federal College Of Education Takes Off In Ekiti Community, Provost Named

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Ayodele Oni

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June 30, 2023

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By Ayodele Oni

The Federal Government has named a provost for a newly approved College of education to be sited at Ilawe, Ekiti state on take off.

The Alawe of Ilawe, Oba Adebanjo Alabi who broke news of the new institution to the people said Dr.Ajigbade Ikuejube has been named as pioneer provost of the college.

A statement by Ajibade Olubunmi, media advise to the monarch, stated that the tenure of Ikuejube, according to a document from the Federal Ministry of Education has begun.

Oba Alabi, while announcing the formal approval of the institution to the people, expressed appreciation to the Federal Government for the establishment of a Federal College of Education in Ilawe Ekiti.

The Alawe said “the institution marks another federal presence in Ekiti State and a positive development in Ilawe.”

The Oba pointed out that college will serve in the training and production of thorough-bred teachers for Ekiti and Nigerians as a whole.

The monarch revealed that establishment came as a result of the several requests made to the Federal government on the establishment of a higher institution in Ilawe Ekiti which started some time in 2016 and supported by patriotic Ilawe indigenes led by Mr Femi Falana SAN.

The monarch emphasized that all hands have been put on deck to provide a conducive environment for academic activities in the newly established Federal College of Education.

Already, a ten- man committee to over see a seamless take off of the institution has been constituted.

The Provost has since made contact with the Alawe of Ilawe Ekiti who wished him a very successful tenure as the pioneer Provost of the institution.

Oba Alabi assured Dr.Ikuejube of the community’s maximum support in the onerous task ahead.

Before his appointment as the pioneer provost of the new institution, Dr Ikuejube was an Acting Provost of the Adeyemi College of Education, Ondo.

Update: Revealed: Bill Seeking Establishment Of Federal College Of Education In Ekiti Sited Location At Omuo

Abuja: How Customer ‘Stole’ N55m Benz From Dealer During Test Drive

By

James Orji

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June 30, 2023

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A car dealer, Mohammed Manga, has been thrown into confusion after a customer, one Henry, absconded with one of his cars, a Mercedes Benz GLB 250 in the Abuja area of the Federal Capital Territory.

PUNCH Metro gathered from Manga that a yet-to-be-identified friend who is also into the business of selling cars visited his office in Abuja requesting to take the vehicle worth over N55m to a potential customer interested in purchasing it.

After taking the vehicle to the customer who introduced himself as Henry, Manga said his friend told him that after negotiations, Henry requested a test drive and was accompanied by his friend.

Manga said his friend was with Henry while he was test-driving the vehicle, adding that things took another turn when his friend informed Henry that he wanted to withdraw money from a Point of Sale operator to purchase fuel for the vehicle at a filling station

He explained that when his friend stepped out of the vehicle to make the withdrawal, Henry zoomed off with the vehicle to an unknown destination.

Manga said, “A friend of mine called me to tell me that he wants to take my Mercedes Benz GLB 250 to a customer. He took the car to his office and the customer came there. He said the customer introduced himself as Henry from Gwarinpa and that he saw the car on an online marketplace.

“He saw the car and said he liked it; they negotiated N55m for the car and he said OK and demanded test driving the car. He drove the car with my friend sitting on the passenger side of the vehicle and they drove out to the filling station opposite the automatic car wash in Garki to buy petrol before the test drive.

“But immediately my friend stepped out of the car at the filling station to withdraw money from the PoS operator to buy fuel, the guy zoomed off with the vehicle. You know how it is, there’s no traffic, no hold up in Abuja and that’s how he absconded with the car.”

Manga said he reported that case to the Anti-Car Theft Unit of the command, adding that the stolen car is grey, with a mileage of 19000.

Contacted, the FCT Police Public Relations Officer, Josephine Ameh, said, “The police are tracking the suspect (Henry).”

After Tinubu’s Long Convoy Saga, APC Chieftain Says President Willing To Sacrifice

By

James Orji

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June 30, 2023

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Emma Eneukwu, All Progressives Congress, APC, Deputy National Chairman, South has assured Nigerians that President Bola Tinubu is willing to sacrifice for the good of the country.

The APC chieftain stated this in Enugu in his Eid-el-Kabir message to Nigerians, according to the News Agency of Nigeria, NAN.

He spoke a few days after Nigerians criticized President Tinubu’s long convoy ride to Lagos on Wednesday.

The president had incurred the wrath of not a few Nigerians following his arrival in Lagos from the United States to Celebrate the Muslim Eid el Kabir festival, with many vehicles riding behind his official vehicle.

Nigerians are particularly unhappy with the president and other top government officials for living in opulence after a slew of austerity measures his government has introduced since he came to power on May 29, 2023.

The removal of subsidies on petrol and Naira for instance are some of the belt-tightening measures his government has introduced within one month of taking power.

The situation has forced many Nigerians to make necessary adjustments in their lifestyles while government officials are still living ostentatiously, analysts insist.

But the APC chieftain said Tinubu has shown “willingness to sacrifice” for the overall interest of the country.

He explained that Nigerians will never regret electing Tinubu as president.

He noted that Nigeria is in a period where everyone is required to make fruitful adjustments, regardless of how painful it could be to make the nation progress.

According to him, this year’s Eid-el-Kabir celebration comes with renewed hope and assurance of a better Nigeria because we now have a president who is determined to leverage on achievements of his predecessor to make the country a safe haven.

“As we all know this event is one that is used to honour the willingness of Prophet Ibrahim (Abraham) to sacrifice his sons as an act of obedience to God’s command.

“It is a moment where togetherness, love, sacrifice and commitment to unity is always observed and I am very happy to celebrate this year with my Muslim brothers, friends and associates.

“I want to admonish us to inculcate the spirit of unity by using this period to reflect on the importance of having a united Nigeria, where the country’s interest would always top our priorities

“We have a president that is in high spirit to capitalise on the progress made by his predecessor and work assiduously to make our dear nation a habitable and prosperous place for all,” he said.

Eneukwu assured Nigerians that they would never regret supporting the ruling APC during the 2023 general polls, as well as all its candidates across the nation, especially Tinubu.

“This great and timely decision will later turn out to be the best decision we have so far made as a nation,” he said.

NEXIM, Fidelity Bank Partner To Grow Nigeria’s Forex.

By

Tosin Olatokunbo

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June 30, 2023

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The Nigerian Export-Import Bank, NEXIM, has announced a strategic partnership with leading financial institution, Fidelity Bank Plc and Sapphital Learning Ltd as part of efforts to boost Nigeria’s foreign exchange earnings.

The partnership will help improve the skills and performance of export businesses in Nigeria by leveraging the NEXIM Export Academy, NEXA; an online platform that provides exporters with capacity-building training and access to finance to scale their business.

The NEXA platform which was Launched with the support of Sapphital (a digital learning institute) in 2022, is designed to empower millions of businesses with resources needed to run successful export operations, perform at higher levels of quality control, and compete favorably in the global market. The platform aims to drive the growth of Non-oil Exports and Foreign Exchange by connecting all the stakeholders along the value chain to enhance learning, improve quality, and grow Intra-African and Global Trade.

Speaking during the Memorandum of Understanding, MOU, signing ceremony held in Abuja recently, the Managing Director, NEXIM, Mr. Abba Bello stated, “Part of the awareness the bank seeks to drive was to make people appreciate the fact and come to the knowledge that export is not only for big companies especially now that small manufacturers or traders can trade across borders. We seek to drive the knowledge that will help entrepreneurs know the processes, documentation and the kind of compliances they need to adhere to in their quest towards export and import business.”

On her part, the Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe noted that, the bank has consistently championed the promotion of non-oil export and capacity building for players in the nation’s export and import business.

Her words, “As a bank, we have always been at the forefront of growing the non-oil export business. We focused on our export banking business over the years and we have remained consistent in pioneering initiatives geared towards aiding capacity-building and access to capital for local exporters. The partnership provides an opportunity to deepen the conversations in the export space and more importantly, to create value for the players in the sector”.

On the ultimate goal of the institute, the Founder/CEO, Sapphital Learning Ltd, Mr. Amu Ogbeide stated that, “We want to grow the export market, we want more people to join and grow”.

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 7.5 million customers serviced across its 250 business offices and digital banking channels. The bank was recognized as the Best SME Bank, Nigeria, 2022 and also as the Best Payment Solutions Provider, Nigeria, 2023 by the Global Banking and Finance Awards. The bank had previously also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions, BAFI, awards.

BoA Predicts N680 To Dollar; $20bn Earning From Oil

By

Tosin Olatokunbo

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June 30, 2023

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The exchange rate of the naira will stabilize at N680 to the dollar by the end of the year, the Bank of America, BOA, has said.

The bank made this known on Thursday, according to BusinessDay newspapers.

The projection comes following the unification of the exchange rate by the Central Bank of Nigeria, CBN, last week, thus bringing to end years of segmentation in the official and parallel exchange rates.

According to the newspaper, the BOA said the value of naira will settle around N680 to the dollar by the end of the year, adding that the national currency has now been undervalued following the government’s recent foreign exchange policy.

The bank stated that the federal government should take critical steps, including ending oil theft in order to increase the nation’s foreign exchange earnings, adding that Nigeria’s crude production could rise to 1.6 million barrels per day, BPD in 12 to 18 months, from the current 1.2 million.

Higher oil exports and a liberalised import regime, the bank stated, could earn the country more than $22 billion in the medium term.

The BOA said, “We now see a USDNGN fair value of 680 per USD (previously 580). However, USDNGN is likely to trade above this level, with year-end 700, and a return to 650-680 in early 2024.

“The caution is transition time, aligning rates and still to unlock more USD into the formal market will take some time. When the dust has settled, the value of the naira should be stronger and appreciating.

“With the current momentum, Tinubu’s next big move should be to reduce oil theft – by reforming the security sector and involving host communities near the pipelines.”