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CBN: Adeboye Slams Apex Bank, Says Naira Can’t Buy A Loaf Of Bread

By
Tosin Olatokunbo
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Pastor Enoch Adeboye, the General Overseer of the Redeemed Christian Church of God, RCCG, has described the recent decision of the CBN to redesign the Naira as unnecessary, saying what should be the focus of the federal government now is how to help suffering Nigerians from hunger.

Why focus on redesigning naira when it cannot even buy a loaf of bread, the cleric said.

The CBN Governor Godwin Emefiele while defending the apex bank’s decision to redesign the naira, said the aim is to reduce the currency in circulation and tackle inflation.

Not a few Nigerians disagreed with him while others support what the CBN is doing. For instance, the Minister of Finance, Zainab Ahmed said the action portends a serious fiscal problem for the country, while President Muhammadu Buhari said the apex bank has his full backing to change the current design of N200, N500, and N1,000 banknotes.

Speaking on Friday during the November Holy Ghost Service held at the church headquarters in Ogun state, Adeboye said the government should focus on strengthening the naira value with other foreign currencies.

According to the respected man of God, it’s a misplaced priority for the CBN to redesign the currency while it continues to fall in value. CBN should rather focus on what the currency can buy, Adeboye said.

At the end of business on Friday, the naira was exchanged for over N850  to the American dollar.

He said the redesign of the currency “doesn’t even make sense anymore. Our naira now is not even worth the paper it is printed on”.

“And while people are hungry, trying to find enough money to buy bread to eat, our bosses are thinking of making the naira more beautiful, even if it can’t buy bread, at least, it will look beautiful. Oh Lord, have mercy.

“We have problems in the land now. Things seem to be getting funnier and funnier. If you don’t learn to laugh in Nigeria now, you will develop hypertension,” Adeboye said.

CIBN, LBS Move To Stop Professionals Moving Abroad To Study

By
Tosin Olatokunbo
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0

By Sandra Ukele

The Chartered Institute of Bankers of Nigeria, CIBN, and the Lagos Business School have collaborated to stem the tide of highly skilled Nigerians moving abroad to study.

The aim of the partnership is to introduce executive courses to enhance the capabilities and effectiveness of professionals, especially in the banking industry.

The executive program offers participants dual certification in Master of Business Administration/ Associateship of the Chartered Institute of Bankers Nigeria and Senior Management Program / Associateship of the Chartered Institute of Bankers Nigeria, ACIB.

Speaking during the signing of the agreement on Friday, the 2nd Vice President CIBN Dele Alabi said what young Nigerians are searching for abroad is now right at their doorsteps.

He said the exodus of Nigerians abroad is an embarrassment that must be stopped at all costs, adding that the partnership between the CIBN and LBS is targeted at equipping Nigerians with the requisite skills to enhance their career and become more effective in their workplace.

Alabi said, “Eighty percent of Nigerians travel to countries such as the U.K and Canada for higher studies. We believe that with this program they don’t need to travel out of the country; they don’t need to leave the country to achieve the same objective.

“The program will significantly reduce the level of attrition we have seen; the level of movement of young Nigerians across Europe and Americas. This is because whatever they are seeking to achieve there they can have in the local environment with this program.

“So the partnership between the CIBN and the LBS will give Nigerians the advantage to go to LBS and obtain MBA get Senior Management Program and get the qualifications.”

The CIBN had organized a similar program with the Bangore University U.K, but decided to bring the program home to benefit more Nigerians, the Institute said.

Accordingly, the MBA Program is expected to equip participants with a detailed understanding of how to do business in complex and dynamic markets, while the SMP is a dynamic program where business professionals share ideas on the economy, business trends, and best practices.

IPOB Knocks South East Governors Over Plan To Establish Security Highway Patrol; Threatens To Stop Rebranding Of Ebubeagu

By
Akinwale Kasali
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0

By Akinwale Kasali

The Indigenous People of Biafra, IPOB, has slammed South-east Governors for planning to establish a Security Highway Patrol Outfit in the region, saying that Ebubeagu Security outfit established by the Governors have killed and destroyed many lives and properties.

IPOB said that it will make sure that the move by the Governors is aborted as it will do everything within its power to stop it.

In a Statement by Emma Power, the group’s Media and Publicity Secretary, it stated that forming another security outfit in the region will cause confusion, anarchy, and increased criminality, insisting that the pro-Biafran Group will resist any move by the Governors to create another security outfit.

The statement read thus: “We won’t allow rebranding of the same murderous Ebubeagu security outfit or the disguising of criminal elements ever. The Ebubeagu they created have killed and destroyed many of our people’s lives and properties.

“We the global family and movement of IPOB condemn the South East governors’ plan to form another security outfit in the region to patrol our highways.

“It is pathetic that these South-East governors can not publicly demand for the unconditional release of their brother, Mazi Nnamdi Kanu, after the Appeal court’s verdict to acquit and discharge him, instead they are hypocritically calling for a political solution without the political will to accomplish it.

“We have Eastern Security Network working day and night to secure our region. These gallant men and women are paying ultimate price to keep our land safe from state sponsored terrorists. If it is not for ESN, by now, state sponsored Fulani militias would have over ran Biafra Land.

“Therefore, we don’t want another security outfit within our territory. Forming another security outfit means that the governors have exhausted their powers with Ebubeagu and are again looking for another means of causing confusion in Biafraland.

“Forming another security outfit in the region will cause confusion, anarchy, and increased criminality just like Ebubeagu did.

“IPOB will work against any other security outfit the governors will create because their Ebubeagu security outfit brought destruction and criminality into our land. We won’t allow rebranding of the same murderous Ebubeagu security outfit or the disguising of criminal elements ever.

“We expected the governors to demand for the unconditional release of Kanu and not waste their energy and resources creating another security outfit.”

Dana Air To Begin Operations, Again, Next Week

By
Akinwale Kasali
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Dana Air

By Akinwale Kasali

Dana Air is set to resume its flight operations after successfully concluding the restructuring and re-engineering of its audit organized by the Nigerian Civil Aviation Authority, NCAA.

The NCAA suspended the Airline’s to audit its operations after a couple of uncomfortable incidents.

In a post announcing its re-beginning of operations the Airline said: “We wish to sincerely, and once again, tender our unreserved apologies to all our customers, vendors, travel partners, and corporate clients for the abrupt suspension of our flights.

“We totally regret the inconvenience caused and we wish to reassure them that Dana Air remains strong and will never take their patronage, relationship and loyalty for granted.”

The statement signed by the Accountable Manager/ Chief Operating Officer of Dana Air, Ememobong Ettete,  said, “The audit for us was a re-engineering process and having successfully concluded the audit and an extensive one at that for the second time, and with a new management team fully in charge, we are now well positioned despite the current challenges and hostile economic environment, and concentrating fully on strengthening our operations efficiently for sustainable growth while still offering safe, reliable and exciting flying experience to our loyal guests.

“As a proudly Nigerian brand with Nigerians at the helm of affairs and with over 14 years of service to the Nigerian flying public, we remain eternally grateful to our customers, travel partners, clients and vendors for keeping faith with us while the audit lasted and we would never take your loyalty and support for granted as it means a lot to us.

“We wish to also express our profound gratitude to the NCAA for the painstaking Audit process and the professionalism exhibited by the team of inspectors and also the management personnel who stayed sometimes beyond their official closing times to see that we do what is needed to be done properly and in good time during the course of the Audit process.”

“This audit has repositioned us as a vibrant and resilient brand and it’s turned out really good for us and for the industry at large. This is also highly recommended for all domestic airlines for the good of the industry.

“For customers with unused tickets, and as a little token for our short absence from the market, we have extended their validity for one year, a transfer option is also available to them and we shall be offering competitive fares as always, and gifting free tickets onboard our flights for the next 30 days from November 9th.

Our 24/7 Customer Service Team will, also, be available to assist customers with any request of their choice on unused tickets and redemption.”

Leadership Failure, Nigeria’s Problem, Not Religion Or Ethnicity, Obi Insists

By
The Source
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Peter Obi

The Labour Party presidential candidate, Mr.  Peter Obi has said emphatically that the problem of this country is not religion or ethnicity as many erroneously believe but on the failure of leadership which his tenure as President if elected will correct.

Obi who was answering questions from  his support groups across the country through  a virtual meeting Thursday night said that Nigerians whether Muslim or Christian are facing the same problems.

“There is nowhere in Nigeria where a Muslim buys cheaper bread because he is a Muslim, ditto Christian. Our economic  problems arising from poor leadership does not discriminate on basis of religion or tribe. There is no separate electricity for a Christian or Muslim, everyone is suffering the same thing.

We can’t continue repeating the same method we have been using that is not working

“ I have said it repeatedly, don’t vote for me because of where I come from. Vote for me because of what am offering. I am the most qualified in this presidential race not because of where I come from but because of what I am coming with, what I can offer.

“My antecedents, my qualifications, I have been tested with power and I left a mark, the only governor in Nigerian history who finished eight years left money, built infrastructure, owed no contractor or salary or pension. I have been to the best schools in the World, acquired enormous knowledge for leadership challenges. I am a businessman and in it I left records.

Explaining why his focus will be much in the North as president, Obi said because the potentials there are much and they need to be tapped and harnessed. With what I have in mind for the north, the region will forever remain grateful because I am going to change the region. We need to cultivate arable land there.

Obi regretted that Nigeria is the poverty capital of the World and the North contributes the larger chunk of it despite its sons being in power for 47 out of 62 years of our nationhood.

“What that means is that who is in power whether your tribesman or your religion is not the solution but the capacity and competence of the person.

“Very distinguished and respected Nigerians from the North have ruled this country but if you go to Nigeria today, the ten poorest states are from the region, the region has the most unemployed youth, out of school children , and the worst school kidnapping record globally”, he said.

The LP flag bearer noted that Nigeria is not the only country with diversity, but it depends on how it’s being handled, as he  recalls that the Central Mosque in London worth millions of pounds in value was donated by the Queen of England who is not a Muslim and in Dubai, the huge Catholic Church there was built by the Emir of Dubai who is not a Christian.

“I have said it frequently  that the 2023 election must not be on anybody’s entitlements, his religion or tribe but on competence, character and what you did before, how did you handle public funds when it was placed in your custody?

Obi also answered questions on other areas including linkage with Nigerian students who are now back on campus.

“To Nigerian students, you will never regret being part of this movement, you can never regret being part of taking back of Nigeria I assure you”

Obi-Datti Media noted that within ten minutes of opening the zoom meeting over 50,000 persons joined who were anxious and desirous to hearing from their reigning political icon. A lot of many could not join as the zoom could not cope with the rush.

Obi’s zoom meeting  with support group is part of the strategy to keep in touch with his numerous followers at home and in the diaspora, as well as get feed back from them on his policies and programs.

Kwara Govt Approves 100 Percent Increase In Students Bursary

By
Ayodele Oni
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0

By Ayodele Oni

Barely a week after it made transportation free for students of tertiary institutions, Kwara State government has approved an increase in bursary allowances paid to students of the state origin in tertiary institutions  by 100 per cent.

Before each student was paid N5,000, now jerked up to N10,000.

A statement by Mansura Amuda-Kannike, Press Secretary, Ministry of Tertiary Education, on behalf of the Commissioner, Dr Afees Abolore-Alabi, disclosed this in Ilorin.

The statement said that the process of accessing the bursary is strictly automated adding that the portal will be open for a week, from Friday, November 4 and closes on Friday, November 11, 2022.

“Commissioner for Tertiary Education, Dr Alabi Afees Abolore said in the statement that application for the bursary will open on Friday 4th November and close at 12 midnight on November 11, 2022.”

The statement explained that the rise in bursary allowance comes barely one week after Governor AbdulRahman AbdulRazaq approved free transport services for students returning for their studies following the end of the months-long industrial action by university lecturers.

“The free transport serves as palliatives to all parents and guardians.

“The Commissioner appreciated the commitment of Governor AbdulRazaq to his campaign promises to all and sundry.”

Abolore expressed optimism that the present administration will not rest on its oars to ensure that Kwara indigenes get their share of the dividends of democracy as and when due.

The Commissioner assured that more opportunities would still come for tertiary institution students while urging them to always be good ambassadors of the state in their various institutions of learning across the country.

Revisit Original Intention Of NDDC Birth, Uzodimma Tells Visiting Acting MD

By
The Source
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0
Hope Uzodimma - Imo Civil Servant Promotion

Governor Hope Uzodimma of Imo State has decried what he calls marginalisation within marginalisation in the Niger Delta Development Commission (NDDC), appealing to the new leadership to revisit the original intention for setting up of the Commission.

He made the remarks on Friday when the Acting Managing Director of the NDDC, Eng. Emmanuel Audu-Ohwavborua led a team of his top management staff on a courtesy call to the Governor at Government House, Owerri.

During the visit, the Commission presented some drugs to the government which the Managing Director said were meant for designated hospitals in Imo State.

Governor Uzodimma said over the years past NDDC leadership resorted to maintenance approach to solving problems affecting the member states as opposed to projects conception and implementation, noting that from the Act establishing the Commission, so many things have been left unaccomplished.

He regretted that even in the area of interventions, some of the states like Imo as a critical stakeholder in the oil and gas has not been treated fairly.

For instance, the Governor noted that a typical example was during the Covid-19 pandemic era when the Commission was expected to come to the aid of the State, but it was nowhere to be seen not withstanding that it featured prominently in other NDDC states.

“What is good for the goose, is good for the gander,” Governor Uzodimma said, and appealed to the new leadership to redress the issue of intra marginalisation in NDDC.

He reminded Audu-Ohwavboua of the need to intervene immediately on the Elele-Owerri corridor of old Owerri-Port Harcourt road as well as on the Mgbidi-Awomama axis of Owerri-Onitsha road in his emergency programme ahead of yuletide as both corridors are key to major movements involving indigenes of the state and other road users.

Besides, the Governor also solicited the intervention of the NDDC in the flood-ravaged communities of Imo State like Ohaji/Egbema and Oguta local government areas as a way of further cushioning the effects of their hardship.

He described the Acting Managing director as one who is  “able, capable and can solve the problems in NDDC.”

Governor Uzodimma expressed delight over his appointment, saying  that he “possesses good knowledge of the terrain and has demostrated capacity in the various positions he has held.”

He charged him to solve the problems of the NDDC, a Commission he described as a “child of circumstances set up to alleviate the sufferings of the oil producing states.”

His words: “Go back to the original intention of setting up the Commission so that the impact will be felt by our people.

“We have observed marginalization inside marginalization. Non of the oil producing states should be marginalised. We must get justice, we must get equity, we must get even distribution of amenities, address marginalisation inside the NDDC.

“Each time they say we are a member, why is intervention not coming to Imo State, but going to other states? Repair Elele to Owerri road and also repair the bad sections from Mgbidi to Awommama under your emergency programme.”

Earlier in his address, the Acting Managing Director who was the former Director in the Delta State office of NDDC, said it was an “auspicious moment to be in Imo State at this time to present drugs with the flood disaster in some riverine communities in Imo State.”

He agreed with the Governor that there are problems but reassured him that he will start from the onset to solve the problems facing the Commission.

“We are technocrats.  We don’t make promises we are not ready to honour. Be rest assured that the marginalisation has ended.”

The high point of the visit was the handing over of the drugs to the Governor, witnessed by top government officials from Imo State and those from the NDDC.

Ekweremadu To Forfeit 40 Landed Properties, As Abuja Court Gives Order

By
Ayodele Oni
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0

By Ayodele Oni

As the legal tussle between United Kingdom, (UK) and former deputy senate president, Ike Ekweremadu over organ harvesting for his child remains unresolved, he is again faced with another in Nigeria over acquisition of some properties.

An Abuja Federal High Court on Friday issued an order of interim forfeiture of 40 landed properties belonging to the former Deputy Senate President.

It was learnt that 10 of Ekweremadu’s properties in Enugu, three in the United States of America (USA), two in the United Kingdom (UK), one in Lagos, nine in Dubai, and 15 located in the Federal Capital Territory are affected by the interim forfeiture order.

Justice Inyang Ekwo, the trial Judge, gave the order following an ex-parte motion filed and moved by Ibrahim Buba on behalf of the Economic and Financial Crimes Commission (EFCC).

Ruling on the motion, the Judge ordered EFCC to publish the interim forfeiture order of the properties in a national daily within seven days from the date the order was given.

Justice Ekwo, adjourned the matter till December 5, for a report on the objection from any member of the public regarding the properties.

Ondo Communities Give BEDC Ultimatum Over 10-Month-Old Blackout

By
Ayodele Oni
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0
BEDC

By Ayodele Oni

Residents of Irese, Aaye and Ikota towns in Ifedore Local Government Area of Ondo state have threatened to shut down the office of the Benin Electricity Distribution Company (BEDC) in Akure over the continued power outage in the area.

The three towns had been in ‘total blackout’ since February 2022; paralysing the economic, commercial, and social activities of residents in the communities.

With the 10-month-old blackout, many business owners in the three affected towns have shut down their shops while artisans who depend on electricity to survive their trades have continued to relocate from the communities.

In a protest letter addressed to the Regional Manager of the BEDC, Akure, the residents complained vehemently that the power outage has heightened insecurity in the three towns.

According to the residents, several efforts to ensure the electricity company address their plight have been without luck.

The letter, signed by the Olurese of Irese, Oba Ahmed Destiny Saka, on behalf of the three towns, stated that the residents have no choice than to stage a mass protest to express their grievances.

“After exploiting all avenues of amity to bring sanity to our relationship by reinstalling electricity  supply to our communities with no success in view, we have no choice but to organize a procession spanning protests to let the world know of the parlous state of electricity supply to our towns,” the letter read in part.

NPA Presents Licences To 5 Export Processing Terminal Operators

By
The Source
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0
NPA Presents Licences To 5 Export Processing Terminal Operators

The Nigerian Ports Authority, NPA), Thursday, presented operational licenses to five Export Processing Terminal, EPT, operators.

The licenced terminals are Messrs. Diamondstar Port & Terminals Ltd; Messrs. Esslibra Terminal; Messrs. Sundial Global Trade & Service Ltd; Messrs. Bellington Cargo Ltd and Messrs. Tenzik Energy Ltd.

Speaking at the presentation ceremony, Managing Director/Chief Executive Officer of NPA, Mohammed Bello Koko, said the terminals were to support ongoing efforts to create the enabling environment that would scale up the nation’s export development initiative.

The public presentation of the licences is coming just a few days after the Authority formally inaugurated the Lilypond Export Processing Terminal.

The MD said the exercise was a testament of the port’s unflinching resolve to transform Nigeria’s export potentials into actualities.

He stressed that the need for the Export Processing Terminals was underscored by the limitations of current port facilities in the Lagos area which were operating beyond their ‘’as built capacity’’ for cargo handling.

According to him, the EPTs were therefore holding areas positioned in Lagos and Ogun States to help exporters prepare their arrival at port terminals in view of the traffic management challenges that were visible in Lagos.

He disclosed that the procedure for licensing the terminals commenced in April 2021 “when we released public notice No. 4152 for Expression of Interest for the Certificate of Export Processing Terminal to Service Lagos Ports Complex and Tincan Island Port Complex.”

He noted that at the close of the advertorial on May 24, 2021, not less than 30 companies had expressed interest.

“The inspection committee and the Project Delivery Team (PDT) following a thorough engagement including a presentation by prospective companies arrived at a list of Ten (10) companies which were subsequently granted approval to join the Lilypond Export Processing Terminal.

“Today, only five (5) out of a total of Eleven (11) Companies have met our stringent conditions and would be granted formal certification. The remaining six (6) who hold provisional licenses would, unfortunately, be dropped at the end of this month if they fail to meet our standards to allow us to consider other applicants on our waiting list.

“This journey has not been easy but we have insisted on ensuring that only venture capitalists willing to deploy appropriate resources can make the cup,” he maintained.

Koko stated that the NPA had also used this project to encourage local content in the export value chain and “we are proud of that. We will offer all support policy-wise to ensure the growth and stability of the terminals.

“This initiative signposts the Nigerian Ports Authority’s commitment to the implementation of the National Action Plan on Agro-Export and the Federal Government of Nigeria’s desire to diversify the national economy from oil export to non-oil exports.

“We are also currently working to integrate the CBN NXP to the e-call up regime and have progressed on discussion to operationalize same using the electronic call-up as the gateway.

“The integration of the barge and train movements will complete the circle and we look forward to work in collaboration with Nigerian Customs to achieve this.

“The Nigerian Ports Authority is not unaware of the existence of export warehouses handling manufactured products. We are working with the Export Command of the Nigerian Customs Service to bring up seamless modalities that will govern this aspect of the project.”

He disclosed that movement of Agro Export boxes arriving at the ports from Lagos and Ogun states shall only be allowed into the ports from any of the Export Processing Terminals.

“For export containers arriving from the Domestic Export Warehouses (DEWs) located across the country, the Authority is committed to receiving them subject to compliance with the traffic management put in place by the Lagos State Government in collaboration with the Nigerian Ports Authority,” he said.

He enjoined terminal operators, shipping companies, and other stakeholders to have first-hand knowledge of the procedure to ensure the success of the Federal Government National Action Plan on Agro – Export development in the country.  You have a responsibility to ensure strict compliance in this regard.

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