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Reps Urge CBN to Keep Exchange Rate Stable at N951.94/$1 for Economic Stability

By
Roland Edet
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The Nigerian House of Representatives has called on the Central Bank of Nigeria (CBN) to maintain the system exchange rate, preferably at N951.94/$1, to promote patronage in Nigerian ports and control the prices of goods and services. This resolution follows the adoption of a motion on the “Need to rescue the Nigerian economy from imminent collapse and restore investors’ confidence in the system.”

Mr. Leke Abejide, representing Yagba East/Yagba West/Mopamuro Federal Constituency in Kogi State, brought the motion to the House floor. He emphasized the importance of a stable exchange rate for business planning, stating that the frequent customs exchange rate adjustments were causing disruptions and volatility in the currency market.

The motion expressed concern about Nigerian importers shifting towards ports in Tema, Ghana, Lome, Togo, and Cotonou, Benin Republic, resulting in a substantial decrease in cargo importation and business activities at Nigerian seaports. To address this, the lawmakers urged the CBN to maintain the system exchange rate for customs and excise duty purposes below N1.000/$1, preferably at N951.94/$1.

Additionally, the House called on the Finance Ministry and the CBN to provide adequate notice to stakeholders in the maritime industry and the general public before altering customs exchange rates, ensuring transparency and allowing stakeholders to prepare for any changes. The Finance Ministry was also encouraged to implement international best practices, allowing a 90-day grace period for fiscal policy changes to complete ongoing transactions under existing policies.

The Committees of Customs and Excise, Finance, and Banking Regulations were mandated to engage with the Minister of Finance, the CBN Governor, and the Comptroller General of the Nigeria Customs to explore how a fixed exchange rate for customs and excise duties could boost exports and encourage patronage in the nation’s ports.

Tension in NASS Over Planned Tenure Elongation for Civil Servants

By
Gladys Phillip
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There is tension within the National Assembly as the Senate considers a bill to extend the retirement age of National Assembly Service staff from 60 to 65 years and from 35 to 40 years of service. The staff of the National Assembly has expressed dissatisfaction with this development, describing it as counterproductive.

The current Clerk to the National Assembly, Sani Tambawal Magaji, who joined the National Assembly Service in April 1990, stands to benefit from this extension, remaining in office until the age of 65 and completing 40 years in service if the bill passes.

This move by the Senate follows several attempts since 2017 to extend the retirement age for National Assembly staff. Previous attempts faced opposition from the Parliamentary Staff Association of Nigeria (PASAN), which rejected the bill, emphasizing the need for the full implementation of welfare and allowance packages as outlined in the service’s Conditions of Service.

The rejection was based on concerns that extending the tenure would stagnate career progression, mainly benefiting management staff due for retirement. PASAN argued that the bill contravenes the Constitution of the Federal Republic of Nigeria and runs counter to the Federal Government’s policy on youth development and empowerment. They highlighted the importance of creating opportunities for Nigerian youths instead of perpetuating individuals who have served for 35 years or attained 60 years.

In a letter to the President of the Senate and the Speaker of the House of Representatives, PASAN denounced the bill and threatened industrial action if it were passed. The bill, previously sponsored by Sunday Akon in the House and Senator Stella Odua in the Senate during the 9th Assembly, faced opposition from the union, leading to its discontinuation.

Despite past rejections, the current management, led by the Clerk to the National Assembly, Magaji Sani Tambawal, is pushing for the extension. The bill has already passed in the House of Representatives and is now before the Senate for concurrence. Some staff members have rejected this move, questioning the urgency and motivations behind the bill.

However, a top management staff member defended the extension, suggesting that it is a collective decision by staff under the parliament and not solely driven by the Clerk of the National Assembly. The argument presented is that the National Assembly risks losing valuable knowledge and expertise with the retirement of experienced hands, justifying the need for an extended tenure.

Federal Government Withdraws Charge Against Sowore, Olawale

By
Roland Edet
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In a significant development, the Federal Government has withdrawn the charge it filed against rights activist Omoyele Sowore and Adebayo Olawale, also known as Mandate. The withdrawal of the charge was indicated by a notice of discontinuance filed at the Federal High Court Abuja, where Sowore and his co-defendant were being prosecuted.

The Notice of Discontinuance, dated February 15, 2023, was signed by the Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi SAN. The notice cited the powers conferred on the Attorney General under Section 174(1)(c) of the Constitution of the Federal Republic of Nigeria 1999, Section 107(1) of the Administration of Criminal Justice Act 2015, and other relevant powers.

This development signals a shift in the legal proceedings against Sowore and Olawale. It marks a decision by the Attorney General to discontinue Charge No: FHC/ABJ/CR/235/2019, indicating a shift in the government’s stance.

In response to this development, Abuja-based legal practitioner Pelumi Olajengbesi Esq. commended the decision of the Attorney General to discontinue the trial. Olajengbesi expressed that this decision reflects a commitment to upholding the principles of justice and fairness within Nigeria’s legal system.

In his statement, Olajengbesi praised the Attorney General for demonstrating a willingness to objectively review cases and prioritize the protection of citizens’ rights. He emphasized that discontinuing the trial reinforces the importance of safeguarding freedom of expression and preventing undue persecution for exercising rights.

The legal practitioner applauded the Attorney General’s discernment and proactive steps in promoting a legal environment that respects fundamental human rights. He noted that this decision sets a positive precedent for the administration of justice in Nigeria and reaffirms the government’s dedication to upholding the rule of law.

Olajengbesi, advocating for justice and equality, expressed support for such principled actions and called for continued adherence to the principles of fairness and accountability within Nigeria’s legal system.

Oyo State Government Closes Six Health Facilities Over Quackery

By
Gladys Phillip
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The Oyo State Government has taken decisive action by shutting down six health facilities across the state due to various offenses related to quackery. The violations included the recruitment of unqualified personnel to provide medical services and engagement in illicit practices.

Dr. Adekunle Aremu, Chairman of the State Antiquackery Task Force Committee, announced the closure during an inspection and monitoring exercise within the Ibadan metropolis. This operation is part of the government’s commitment to safeguarding the health and well-being of residents.

Dr. Aremu emphasized that the Oyo State government will not tolerate any form of quackery or substandard practices in the health sector. Offenders will face the full consequences of the law. He encouraged the public to report any suspicious or illegal activities in health facilities to the Ministry of Health or the nearest security agency.

He urged residents to patronize only accredited and registered health facilities, ensuring that only qualified personnel attend to them. Health workers were also called upon to adhere to the ethics and standards of their profession.

Dr. Aremu appealed to the public to cooperate with the government in its commitment to providing quality and affordable healthcare services. He stated, “The government ensures that healthcare services consistently meet the highest benchmarks for quality and safety, so citizens can trust their well-being.”

Among the facilities sealed were New Jobi Memorial Hospital, Omolara Clinic & Maternity Home, Iped Amazing Grace Medical Clinic, Emiloju Clinic and Maternity Centre, Ogbere, Safeway Clinic, Gbaremu, and Emilagba Clinic and Maternity Centre, Ibadan.

REMITA Remits N34.31 Billion to Federal Government in Seven Years

By
Grace Itodu
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Mr. Aderemi Atanda, Managing Director and Chief Executive Officer of the payment solution platform REMITA, revealed that between 2015 and 2022, the platform remitted about N34.31 trillion to the Federal Government. Atanda disclosed this information during an investigative hearing on “Alleged revenue leakages through REMITA platform and non-compliance substantively with standard operating procedure and other allied service agreement,” conducted by the Public Accounts Committee in Abuja.

The committee, led by Bamidele Salam, sought to verify the workings of the bond signed between the Central Bank of Nigeria and Systemspec/REMITA on revenue collection. To delve deeper into the matter, the committee resolved to invite the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and CBN Governor, Yemi Cardoso.

According to documents submitted to the committee, instead of the N343.119 billion fee income due at the contracted rate of one percent flat, only N23.92 billion actual fee income was applied. The sharing formula for chargeable fees, according to a 2018 circular, revealed that stakeholders would share N150 per transaction, with REMITA and other stakeholders taking 43 percent.

Atanda clarified that REMITA did not impose additional fees apart from the approved N150 on revenue-generating Ministries, Departments, and Agencies. He emphasized that REMITA provides additional technology services to the federation free of charge.

The breakdown of remittances over the years was as follows: N1.5 trillion in 2015, N2.8 trillion in 2016, N3.7 trillion in 2017, N4.6 trillion in 2018, N4.6 trillion in 2019, N4.2 trillion in 2020 (COVID year), N6 trillion in 2021, and N6.8 trillion in the 2022 fiscal year.

Regarding the contract signed with REMITA, the Accountant General of the Federation, represented by Director, Single Treasury, Mr. Mohammed Bello, disclosed that the 2.5 percent fee accrued to OAGF goes directly into the Federal Government’s account.

In the ruling, PAC Chairman Bamidele Salam emphasized the need for the physical appearance of the Minister of Finance, the Coordinating Minister of the Economy, CBN Governor, and Accountant General of the Federation before the Committee on Tuesday, February 20, 2024.

Electricity Sector Legacy Debts Hit N3 Trillion

By
Mosali Edunosa
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The Minister of Power, Chief Adebayo Adelabu, disclosed that the debts owed to power companies have reached a staggering N3 trillion. This total encompasses N1.3 trillion owed to Generation companies and approximately $1.3 billion owed to Gas Companies over the years.

During a press conference in Abuja, Adelabu, alongside heads of Parastatals in the ministry, addressed the complexity of the power sector situation. He pointed out that the accumulating debts result from unpaid subsidies. The Minister likened the dilemma to choosing between implementing cost-reflective tariffs or the government paying the substantial subsidy, which amounts to billions of Naira.

Adelabu, who expressed his concern during a tour of power plants operating below 20% capacity, pledged to confront the issues head-on to achieve incremental power supply within the administration of President Ahmed Bola Tinubu. He called for patience from Nigerians.

The Minister outlined results-oriented programs aimed at advancing the sector, including reconductoring existing aging Transmission power lines, speeding up intervention projects, improving distribution infrastructures, and accelerating metering acquisition programs. He also highlighted initiatives for revitalizing Discos, addressing gas supply issues to Gencos, fixing transmission infrastructure, and advancing Presidential Power Initiatives.

Adelabu emphasized the need for resolving outstanding debts, securing gas supply contracts, and achieving grid stability and capacity expansion. He outlined ongoing activities in the Ministry and its agencies to improve power supply, including the augmentation of hydro and thermal power plants, completion of projects like the Zungeru Hydro Electricity Power Plant, and resuscitation of abandoned hydro plants.

The Minister underscored the commitment to developing renewable energy options, revisiting abandoned projects, and completing infrastructure for various power plants across the country.

Akpabio Encourages Super Eagles: “You Are All Champions, Don’t Be Sad for Not Winning Cup”

By
Ola Akinola
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Senate President Godswill Akpabio offered words of encouragement to the Super Eagles, assuring them that they are champions despite not clinching the African Nations Cup in Cote d’Ivoire. During a meeting with the team’s captain, William Troost-Ekong, in his Abuja office on February 14, Akpabio commended the players for winning the silver medal in the tournament.

In a statement by his Special Assistant on Media/Communication, Anietie Ekong, Akpabio emphasized that the Super Eagles had made the nation proud by reaching the final of the competition. He called on all Nigerians to show their support and commendation to the team.

“I see you all as champions. You may not have won the ultimate prize but you made our country proud through your performance. Nigerians were very united in their support for you. You only lost the trophy but not the hearts of Nigerians,” said Akpabio.

He challenged the team to work harder for future competitions, expressing the hope that they would return not just with the team’s jersey but also with the coveted trophy.

In response, Super Eagles captain Troost-Ekong expressed gratitude for the support from Akpabio and the entire nation. He thanked Akpabio for traveling to Cote d’Ivoire to back the team. Troost-Ekong assured that the team would strive to surpass their achievements by aiming for the gold medal in the next competition.

Senators present at the reception included Deputy Senate President Barau Jubril, Senate Leader Bamidele Opeyemi, Asuquo Ekpenyong, Adeola Olamilekan, William Eteng, Abdulaziz Yar’Adua, Onyekachi Nwebonyi, Tokunbo Abiru, among others.

400 Orphans and Widows Receive Free JAMB Forms and Scholarships in Kebbi

By
Nnenna Nwankwo
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0

In a generous initiative, over four hundred orphans and widows from Kebbi were awarded free UTME forms and comprehensive education scholarships. The philanthropic effort was spearheaded by Alhaji Manir Musa, a Jega-based philanthropist and the chairman of M TECH Foundation.

Alhaji Manir Musa stated that the selected youth for the scholarship predominantly comprise orphans who exhibit academic brilliance but face financial constraints hindering their pursuit of higher education. The aim of the initiative is to provide support to these talented individuals and help them realize their educational aspirations.

To further empower the recipients, the foundation has established a UTME mock center, ensuring they are well-versed in computer skills essential for computer-based examinations. Successful candidates in these mock exams will be granted all-expenses-paid scholarships for their preferred university or tertiary institution in Nigeria.

Alhaji Manir Musa appealed to affluent individuals in society to assist determined yet financially disadvantaged individuals, particularly those who have lost parents or lack the financial means to fund their education. The initiative seeks to create opportunities for education and empower those with the will to study but face economic challenges.

Minister Tasks Media to Hold Public Officers Accountable on Behalf of Nigerians

By
Roland Edet
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0

Mohammed Idris, the Minister of Information and National Orientation, has called upon the media to play a crucial role in holding public officials accountable on behalf of the Nigerian people. The minister emphasized that the administration’s inaugural ministerial briefings aim to rebuild public trust in the government and amplify its policies.

In his role as the Minister of Information, Idris expressed his commitment to enhancing the government’s image and the reputation of those working within it. He pledged to deploy a dynamic information system to provide citizens and the global community with credible and timely information.

The minister outlined a four-pillar program aligned with the Renewed Hope Agenda, focusing on restoring trust and confidence in the government through proactive and credible communication of policies. He emphasized the determination to engage stakeholders across government, media, private sector, and the international community.

“We are highlighting and amplifying the policies, programs, and achievements of the President Bola Ahmed Tinubu-led Administration, showcasing their positive impact on the lives of the Nigerian people,” stated Idris.

Additionally, the ministry is working on national campaigns for reorienting attitudes, values, and ethics in Nigeria, with the upcoming launch of Nigeria’s new National Values Charter. The charter will outline the rights and responsibilities between the government and citizens, forming the basis for national reorientation campaigns.

Idris also highlighted efforts to modernize and upgrade the Federal Government’s Information and Communications Systems and Personnel for relevance in the 21st century.

Addressing the media, the minister invited them as partners to engage public officers and hold them accountable on behalf of the people, emphasizing the administration’s transparency. “We are creating an enabling environment for all players and stakeholders in the media and information ecosystem through the implementation of favorable policies and incentives.”

The minister stressed the critical importance of the maiden briefing, featuring Minister of Agriculture and Food Security, Senator Abubakar Kyari, in line with the administration’s emphasis on the country’s food security.

CAN Calls For Support For Those Facing Economic Hardships, Emphasizing Reflection, Compassion

By
Toyin Adebayo
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0

In a poignant message marking the commencement of Ash Wednesday and the Lenten season, the President of the Christian Association of Nigeria (CAN), Archbishop Daniel Okoh, urged Nigerians to rally behind those grappling with economic hardships. Emphasizing the importance of self-reflection, repentance, spiritual growth, and compassion, the Archbishop delivered this call during his address to Christians in Abuja.

The statement conveyed the essence of Ash Wednesday, highlighting the symbolic significance of ashes as a reminder of human mortality and humble origins. Archbishop Okoh stressed the need for individuals to ponder their purpose, the impact of their actions, and seek forgiveness during this solemn period.

Addressing the societal dimension, the Archbishop urged Christians to grieve for personal and national sins and to actively contribute to the well-being of others, mirroring the compassionate actions of Christ. He called for solidarity and support for those in need, emphasizing the importance of leaders recognizing and addressing economic challenges.

“As we embark on this Lenten journey, our hearts are drawn to the plight of many who struggle to make ends meet, facing financial uncertainty and limited access to basic needs,” the statement declared. Archbishop Okoh appealed to leaders at all governance levels to acknowledge the urgency of economic challenges, urging concrete actions to provide support for those enduring economic hardships.

Expressing a vision for a more inclusive and compassionate society, the Archbishop urged collective commitment to building a Nigeria where the burdens of the marginalized are alleviated, and their voices heard. The message concluded with a call to embrace understanding, empathy, and service during this Lenten season, working together to foster a nation where compassion and support for fellow citizens are central values.

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