CBN resisted pressure to float the Naira

Acting Director, Corporate Communications of the Central Bank of Nigeria (CBN), Mr. Isaac Okoroafor, says the apex bank resisted suggestions to float the Naira when the country was battling with economic recession.

Okoroafor spoke at the Capital Chapter Congress/Dinner of the Nigerian Institute of Public Relations (NIPR), FCT chapter, on Wednesday, in Abuja.

Delivering a lecture titled, “Managing Public Confidence in a Period of Economic Challenge.

 -The Role of Public Relations’’, the CBN spokesman said the bank was vindicated afterwards for rejecting the suggestion.

A floating exchange rate is a regime where the currency price is set by the forex market based on supply and demand compared with other currencies.

IMF not worried about Nigeria’s debt, says Adeosun

The Minister of Finance, Mrs. Kemi Adeosun, has said that the International Monetary Fund is not worried about Nigeria’s debt profile.

Adeosun said that the country had enough capacity to repay its debt obligations estimated at N21.7tn.

“We are pursuing a very measured strategy. We are running a budget deficit; the size of that deficit is coming down now. Nigeria is not among the countries that the IMF is worried about. We do have a challenge on debt service to revenue. That is because the interest cost is quite high and that is a function of two things.

“One is the fact that most of the debts were short-term; so, we are paying interests and compounding it. We have been refinancing treasury bills and issuing bonds. We have been refinancing treasury bills in the domestic market and replacing them with longer term debts in the international market. And this is reducing our cost of borrowing.”

She said that as of this time last year, the Federal Government was borrowing at an average cost of 18 per cent, adding that currently, it had reduced to 13 per cent.

The minister added that the Federal Government was working very hard on the country’s debt service cost and revenue collection.

Punch Chairman, Aboderin, is Dead

The Chairman of Punch Nigeria Limited, Mr. Gbadebowale Wayne Aboderin, is dead. He was aged 60.

The company said Aboderin died on Wednesday at about 6.05am after a heart surgery at the First Cardiology Consultants, Ikoyi, Lagos.

Aboderin, who was also chairman of Punch Commercial Printing Limited, is survived by his wife, Titilayo, and children.

Mr President Has Heeded The Call!

For developed nations around the world, whatever success stories we hear are not a product of the effort of a certain class or category of people, it has been the collective responsibility of everybody, because the success of a state isn’t the success story of a selected few, rather, that of everyone

The most popular game in Nigerian governance is the blame game. Every succeeding administrator in Nigeria goes out of its way to make everybody who cares to listen believe that all governing problems were caused by their predecessors, as though the people who voted them out were not aware.

The case is no different today,with Nigeria waking up every morning to the stale news of the damage of the previous administration we have voted out some three years ago, and little or no fresh news of what our present administration has done in building a stronger nation, where everybody takes up the responsibility of building a better country. In ensuring irreversible development and sustainable growth of this great nation, critical thinkers within and outside the state have agreed that all hands, blameworthy or not, need to be on deck.

For developed nations around the world, whatever success stories we hear are not a product of the effort of a certain class or category of people, it has been the collective responsibility of everybody, because the success of a state isn’t the success story of a selected few, rather, that of everyone.

In clear words, the aim of Nigerian youth when clamouring for an active participation in governance and leadership of our beloved country is to intensify efforts in ensuring the success of our nation. The youth have woken up from their slumber, and are ready to give the necessary support to ensuring Nigeria stands tall again.

Mr. President, in the time you have spent in office, a lot has transpired, and it would be unfair and irrational to say you have done nothing in office, as your fight against corruption and the efforts at combatting the menace of terrorism in the North-eastern part of our country haven’t gone unnoticed. Mr. President, remember that you promised Nigerians change – from economic recession, looming corruption, ever-growing unemployment rate among youth, and so on. Efforts no doubt have been channelled at ensuring things change, but the sad tunes that made us change our piper to you are the same ones we still hear. Personally, I’m optimistic Nigeria can stand again, if we start putting the right things in perspective, one of which entails allowing young minds in the politics and governance of our country. A number of countries are soaring as upon the impact of their youth, so it’s befuddling why you would push our own youth away.

Mr. President, it may have taken Nigerian youth a while to understand their place in the development of this nation. But in those times, they were waiting both patiently and impatiently for the time they would have the opportunity to be a part of the decision-makers, so they may implement their brilliant thoughts and ideas.

But they have quickly realised that the tomorrow they were waiting for starts now. This is what has birthed the movements for youth inclusion in the governance of our nation.

PDP Ex-Governor paraded like a Criminal, Sent to Prison

The Economic and Financial Crimes Commission, EFCC Kaduna office, today May 31, 2018, arraigned the former Executive Governor of Kaduna State Mukhtar Ramalan Yero; former Minister of State, Nuhu Somo Wya; former People’s Democratic Party, PDP, Kaduna State Chairman, Abubakar Haruna Gaya and the former Secretary to the State Government, Hamza Ishaq. They were arraigned before Justice S.M Shuaibu of the Federal High Court Kaduna on a Four Count charge bordering on Criminal Conspiracy, Bribery, Money Laundering and Criminal Diversion of Funds to the tune of N7000,000,000 (Seven Hundred Million Naira) only.

They all pleaded not guilty to the charges.

Lead prosecution counsel, Joshua Saidi then prayed the Court for a date for commencement of trial, while remanding the accused persons in prison custody.

Lead defence counsel, Yunus Ustaz Usman (SAN) made application for bail orally but Justice Shuaibu refused.
The Court ruled that formal applications for bail of the accused must be filed. He, therefore, adjourned the matter to the 6th of June, 2018 for hearing of bail application. He also ruled that the accused be remanded in prison custody.

Health Crisis: Nigerian doctors threaten fresh strike

The Nigeria Association of Resident Doctors (NARD) says it cannot guarantee industrial harmony after a scheduled meeting on June 2.

Ugochukwu Eze, the NARD Publicity and Social Secretary, Kaduna State branch, made this known at a news conference, on Thursday in Kaduna.

“As the 21 days grace handed over to the federal government to resolve all lingering issues as well as the recalling of its members sacked by the Jos University Teaching Hospital (JUTH) elapsed on Thursday May 31,
“we scheduled a meeting for June 2, while warning that we cannot guarantee industrial harmony.

“It may also interest you all that an extraordinary National Executive Council meeting of NARD is scheduled to hold on the 2nd of June, 2018.

“NARD leadership may not be able to guarantee continuous industrial harmony should our legitimate agitations be ignored by government,” the spokesman said.

Mr Eze recalled that NARD had on March 27 held an extraordinary National Executive Council meeting where issues pertaining to the unjust sack of its members in JUTH were extensively discussed.

“At the end of the meeting, a 30 days ultimatum was issued starting from the 2nd of April, 2018, which elapsed on the 2nd of May, 2018. “Twelve days after the expiration of the ultimatum, at the Ordinary General Meeting held in ABUTH Zaria from 5th-11th May, 2018, the ultimatum was extended by 21 days to allow government to effect recall of all sacked resident doctors in JUTH.

Zidane Steps Down As Real Madrid Manager

The news, revealed at a press conference on Thursday, comes as a great shock, considering that the Frenchman guided Los Blancos to a history third consecutive UEFA Champions League title only five days ago.

Zinedine Zidane has announced this decision to step down as Real Madrid manager with immediate effect.

The news, revealed at a press conference on Thursday, comes as a great shock, considering that the Frenchman guided Los Blancos to a history third consecutive UEFA Champions League title only five days ago.

FG paid N2.7 trn owed contractors — Minister

The present administration has paid a total sum of N2.7 trillion owed various contractors, of which N47 billion went to road contractors, since coming into office in 2015.

The Minister of State II for Power, Works and Housing, Alhaji Suleiman Zarma, made this known during a stop-over to inspect the reconstruction and asphalt overlay of the 98.414 kms Benin-Ofosu-Ore-Ajibandele-Shagamu Dual Carriageway, Phase IV.

“These monies were paid not for jobs awarded by the present government but government did so believing that the contracts were awarded to benefit Nigerians.”

He said that the Buhari-led administration was resolute in paying contractors for jobs executed.

Buhari appoints ex-IG Smith as PSC chairman, to succeed Okiro

President Muhammadu Buhari has appointed former Inspector-General of Police, Musiliu Smith, as Chairman of the Police Service Commission.

Smith is to succeed former IGP, Mike Okiro.

Buhari also appointed five others as members of the PSC.

President of the Senate, Bukola Saraki, read Buhari’s letter seeking legislative confirmation of the appointment as well as members of the commission

BudgIt attacks Sen. Ben Bruce over NASS salary budget

Ben Murray-Bruce, senator senator representing Bayelsa State on Monday engaged in war of words with BudgIT, a Nigerian civil society organization over the National Assembly salary.

The argument began after Sen. Bruce queried Nigerian leaders who exploit citizens with exorbitant budgets for their personal use.

Bruce tweeted “For too long, Nigeria’s leader have thought about the next election instead of the next generation. That is why our recurrent expenditure is huge and our capital expenditure is small and why their budgets build their cronies wallets instead of building infrastructure for masses.

“I told my constituents what I earn and publicly shared my FULL allowance with widows. Google it. You are Nigerians. You have Senators representing you. Ask them what they earn. They have a responsibility to you. I have a responsibility to my constituents.”

Reacting to Bruce’s tweet, BudgIt asked the senator to disclose his salary publicly as change in NASS budget should start with him.

“We can support you. Our #OpenNASS campaign is geared towards this. NASS Budget shows huge overhead costs paid to lawmakers. However, please do us a little favour. How much have you earned since your period in NASS?

Ben Murray-Bruce, senator senator representing Bayelsa State on Monday engaged in war of words with BudgIT, a Nigerian civil society organization over the National Assembly salary.

The argument began after Sen. Bruce queried Nigerian leaders who exploit citizens with exorbitant budgets for their personal use.

Bruce tweeted “For too long, Nigeria’s leader have thought about the next election instead of the next generation. That is why our recurrent expenditure is huge and our capital expenditure is small and why their budgets build their cronies wallets instead of building infrastructure for masses.

“I told my constituents what I earn and publicly shared my FULL allowance with widows. Google it. You are Nigerians. You have Senators representing you. Ask them what they earn. They have a responsibility to you. I have a responsibility to my constituents.”

Reacting to Bruce’s tweet, BudgIt asked the senator to disclose his salary publicly as change in NASS budget should start with him.

“We can support you. Our #OpenNASS campaign is geared towards this. NASS Budget shows huge overhead costs paid to lawmakers. However, please do us a little favour. How much have you earned since your period in NASS?

“Please note that N125bn is mainly part of RECURRENT EXPENDITURE.He is a public officer. We have a right to ask him questions. Change can start from him as his salaries and overheads are also part of recurrent expenditure.

“Please start by fully disclosing how much you earn. The National Assembly’s budget is 10 times that of an average Nigerian University.”

Bruce further responding said he had once campaigned on floor of the senate against salary of NASS members but was not supported, hence reason for the outcry.

“Was I the only one who set that salary? When I was fresh at the Senate, I publicly championed a crusade to ask for our wages to be reduced. It would have been good if I had your support then instead of this quip,” Bruce replied BudgIt.

Ekweremadu reveals real cause of Boko Haram, herdsmen attacks

The Deputy President of the Senate, Ike Ekweremadu, has revealed the real cause of Boko Haram insurgency and herdsmen/farmers’ clashes in the country.

The lawmaker attributed the menace to the depletion of natural resource, disrespect for human rights and the rule of law.

He said the factors were major setbacks to prosperity, peace, security and sustainable development in the Commonwealth.

The lawmaker said these in London on Monday in his speech at the opening session of the inaugural Commonwealth Parliamentarians’ Forum, ahead of the Commonwealth Heads of State and Government Meeting scheduled to hold in the British capital in April.

According to him, the protracted Boko Haram insurgency and herdsmen/ farmers’ crisis were “practical examples of how natural resource depletion and inequality adversely affect security and prosperity.”

A statement by his Special Adviser on Media, Uche Anichukwu, quoted him as also linking the rising insecurity to global warming.

He said, “Lake Chad, which is a major source of livelihood for parts of Niger Republic, Chad, Nigeria and Cameroon, has shrunk from 25,000 square kilometres in the 1960 s to just 2 ,500 square kilometres today.

“This has seriously aided the rise, spread and monumental consequences of Boko Haram terrorism and insurgency in Nigeria and its North – East border countries.

“With millions displaced and thousands killed, drought, disease and chronic poverty have had the world grappling with the worst humanitarian crisis today.

“Militant nomadic herdsmen displaced by both insurgency and depleted resources have engaged in resource scramble with indigenous communities in Nigeria and some other parts of West Africa, leaving widespread killings and destruction in their trails.

“According to the Global Terrorism Index, militant herdsmen killed more people in Nigeria than Boko Haram in 2016 and over 2 ,500 people between 2012 and 2016.”

The DSP also welcomed Britain’s move to exit “the European Union marriage, which may have limited its ability to foster stronger ties, especially for economic prosperity, with Commonwealth nations.”

He added, “Many conflicts and crises witnessed in many Commonwealth member states arise from a few individuals in power and those they consider as their people taking more than their fair shares.

“But, I believe the resurgent influence of the Commonwealth would help to keep leaders in check and promote human rights, rule of law and ‘inclusivity.’”

Herdsmen killings: Southern, middle belt leaders warn Buhari against state of emergency in Benue State

The southern and middle belt leader’s forum has warned the presidency against declaring state of emergency in Benue State.

The Forum also called for the arrest and prosecution of those responsible for killings in the state and other parts of the country.

The southern and middle belt leader’s forum has warned the presidency against declaring state of emergency in Benue State.

The Forum also called for the arrest and prosecution of those responsible for killings in the state and other parts of the country.

The leaders revealed this to newsmen after a meeting of southern and middle beltleaders in Abuja.

They said: “President Muhammadu Buhari has not lived up to the expectations of his office by keeping mute on the killings, visiting neighbouring Nasarawa and Adamawa states, while ignoring Benue.”

“Soldiers drafted to Benue state under Operation Cat Dance, were allegedly circulating leaflets, calling Tiv cattle rustlers, which clearly suggests that the operation is ostensibly meant to turn victims into villains and decimate their capacity for self-defence.”

“President Buhari to stop the killings in Benue and other parts of the country by disarming herdsmen and fishing out culprits for prosecution.”

“Any plot to declare a state of emergency in Benue State, as being canvassed by some sponsored group, as such a move in the Western Region had dire consequences in the past.”

The meeting had in attendance Chief Clark, who led the south-south delegation; Chief Ayo Adebanjo, at the head of southwest delegation; Chief John Nwodo, southeast, and Bala Takaya.

#BBNaija: Tobi reclaims Head of House.

Tobi Bakre has emerged the new Head of House on the ongoing Big Brother Naija ‘Double Wahala’, winning the title for the third time.

The housemate beat fellow contenders Miracle, Anto and Cee-C to win the title.In addition to his win, Tobi also gets to enjoy the luxury room with his strategic partner, Alex.

Tobi won the title in the first and second week while he was still paired with Cee-C.However, there were no evictions during his previous reign, so he did not get to use his power, which allows him to save a nominated pair and replace with another.

During his previous tenures as the HoH, the housemates lost their wager.Tobi had come under fire for his relationship with former strategic partner Cee-C.

Cee-C’s hold on Tobi triggered negative reactions from viewers who called for prayers to free him form Cee-C’s alleged manipulation.The hastag #PrayforTobi became the trending topic on various social media.It seems viewers prayers’ were answered when `Biggie’, changed the pair during the reshuffling in the house, leaving Cee-C to be paired with Lolu while Tobi was paired with Alex.Tobi’s win comes after Miracle’s successful reign as the Head of House.

This season tagged ‘Double Wahala’, housemates are competing for prizes worth 45 million naira.