The Central Bank of Nigeria (CBN) has injected another $81.2 million into the invisibles and Small and Medium Enterprises (SMEs) segments of the foreign exchange market.
A breakdown of the interventions indicates that the Bank provided the sum of $44 million to meet customers’ requests for invisibles such as Basic Travel Allowances (BTA), Personal Travel Allowances (PTA), medical bills and tuition fees, among others.
The Acting Director, Corporate Communications at the CBN, Isaac Okorafor, confirmed the intervention, adding that the SMEs segment also received a boost of $37.2 million.
“The Bank remains committed to ensuring that there is enough supply of forex to genuine customers to achieve the goal of forex rates convergence.”
He expressed satisfaction with the current stability in the forex market, even as he said that he had confidence in the ability of the CBN to sustain its interventions in the market.
It will be recalled that the CBN on Friday, May 5, 2017, sold a total sum of $389 million to authorized dealers in the retail sector of the market as spot and forwards. Of the sum, $87.885 was for spot sales, while $300.8 million was sold as forwards in three tenors of 30, 45 and 60 days, respectively. [myad]
President Muhammadu Buhari has expressed happiness that he is around to personally received the 82 Chibok girls who were freed by their captors, Boko Haram insurgents yesterday, Saturday evening.
The President, in his remarks as he received the girls, who were abducted from their Government Gilrs Secondary School Chibok in Borno State in April 2014, said: “I am very pleased to have personally met you and let me assure you that the Presidency will personally supervise the performance of those entrusted with your welfare and commitments made by the Federal Government on your health, education, security and general well-being.”
Buhari described the release of the girls as a pleasant second anniversary gift to the people of Nigeria, saying that he could not express in a few words how happy he was to welcome the girls back to freedom.
“On behalf of all Nigerians, I will like to share my joy with you, your parents, your relatives, friends and Government of Borno State on regaining your freedom.
“The Federal Government will like to commend the Security Agencies, the Red Cross, local authorities, local and foreign NGOs and all those who contributed in one way or another to secure the release of our Chibok Girls.
“Let me reassure Nigerians, especially relatives and friends of the remaining girls that the Federal Government will spare no effort to see that they and all other Nigerians who have been abducted safely regain their freedom.
“No human being should go through this kind of ordeal. The security agencies and state governments should continue to provide special protection to educational institutions vulnerable to this kind of outrage especially in remote areas.
“This administration is resolutely determined to safeguard the security of all Nigerians at all times.” [myad]
The Bajana III of the Obajana Kingdom, Idowu Isenibi has prayed to God to give him a son like Aliko Dangote, President of Dangote group.
The Bajana III, who was speaking at an Appreciation Ceremony/Press Conference at Obajana in Kogi State on Friday said: “I have been praying to God to give me a son like Aliko Dangote who has the heart to help people; not this kind of people that bury money in graveyards. Dangote is using his money to build companies, roads and create jobs.
“I strongly believe that our economy which has been paralyzed for a long time will come back to normal. The high rate of insecurity on this road will be drastically reduced. Our farm produce that have been down will bounce back and those plying the road, will not have difficulties.”
He listed some of the benefits the communities have been enjoying from partnership with the Dangote Group to include: Cement factory, which is the largest in the world; Dangote Academy Training School, presence of banks, roads, Agro sack factory, Air Strip, employment opportunities and electricity among others.
He also announced that the Dangote Group had just provided two electric transformers for the Obajana community.
“With the coming of Dangote Cement, I can tell you that Obajana now have inhabitants of more than fifty thousand people. It is a place to live now. While some people set fire on the companies in their communities; we are guarding Dangote factory.”
He assured the people that very soon fertilizer and ceramic factories will be established in his kingdom.
“Let me make it clear that we did not sell our rights to Dangote Cement but we subject our resources for him to develop, and we are happy that we did so,” the King said.
Head of Administration at Obajana Cement Plant, Mr. George Ofurum who represented Dangote Group’s President Aliko Dangote thanked the community for the peaceful and mutual relationship between the community and the Dangote Cement, adding that more investments and philanthropic works were still in the pipeline.
He concurred with the King that when the 42.4 kilmetre road is constructed, it will help is ensuring security and economic prosperity.
“We are doing all these because of the peaceful relationship that we have,” he added.
Community leaders who attended the gathering spoke glowingly of Dangote Group’s philanthropic activities.
Chief Obanle Olusegun who spoke on behalf of the Obajana Traditional Council said: “Count on us, we will continue to cooperate with you. I also want to assure you that we will support you in maintaining peace and order in this community.”
Chairman of the Christian Association of Nigeria, Obajana Chapter, Pastor Olarewaju Ibiteye, said: “God and our people are happy with Alhaji Aliko Dangote. We will continue to cooperate with him to develop Obajana and Kogi State.”
The Chief Imam of Obajana Community, Ustaz Saidu Adamu, said the Muslim Ummah in Obajana are praying for the Dangote Group day and night. [myad]
Presidential spokesman, Femi Adesina has just announced that President Muhammadu Buhari is scheduled to proceed to London tonight for follow-up medical consultation with his doctors.
In a statement, Adesina said that the President had planned to leave today, Sunday afternoon, but decided to tarry a bit, due to the arrival of 82 Chibok girls who arrived in Abuja earlier in the day.
“The President wishes to assure all Nigerians that there is no cause for worry. He is very grateful for the prayers and good wishes of the people, and hopes they would continue to pray for the peace and unity of the nation.
“The length of the President’s stay in London will be determined by the doctors. Government will continue to function normally under the able leadership of the Vice President.
“President Buhari has transmitted letters about the trip to the Senate and the House of Representatives, in compliance with Section 145 (1) of the 1999 Constitution.” [myad]
Given the complex menu of problems President Muhammadu Buhari faced, he has done well in a tough situation. His policies have begun to bear fruit. We are moving out of recession and toward the long-term reshaping of the national economy.
This is the verdict, delivered by the former governor f Lagos state and chieftain of the ruling All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, in a statement he personally signed.
Asiwaju said that he would not diminish the hardship still faced by many Nigerians, “we also must be cognizant of the important progress made these past two years.”
The full text of the statement goes thus:
Nigeria is a place of numerous challenges and the home of vast human potentials. Our greatest challenge has always been how to best direct our vast potentials so that we overcome the challenges that plague us. This cardinal challenge is why the APC was formed and why the party presented then General Muhammadu Buhari as its standard bearer. The people rightly chose him as their president, believing he was the best person to make Nigeria into a better nation.
His electoral victory was historic. More importantly, like most Nigerians, I believed his presidency represented a historic mission to right many of our nation’s wrongs. I still believe so. The previous administration treated Boko Haram softly, appearing to view the terrorists as part of their political equation rather than a lethal threat to national security. President Buhari has gone after Boko Haram without condition and without fear. He has pushed them back, saving lives and giving northern Nigeria a chance to breathe again the air of peace and normalcy.
My recent visit to Borno State to inaugurate projects opened my eyes to the progress President Buhari has made in the anti-terror war. An enabling environment has been created for Governor Ibrahim Shettima who has taken advantage of the peaceful space to initiate laudable projects such as the provision of housing for and rehabilitation of Boko Haram victims. The previous administration treated corruption as its co-tenant in office. President Buhari has fought it with tenacity, equal to that with which he has confronted Boko Haram.
We currently face stiff economic challenges. This is neither President’s Buhari’s doing nor choosing. The steep decline in oil prices caused the downturn which exposed our nation’s long-time failure to plan ahead by diversifying our economic base. It has fallen on the Buhari government to fix the immediate problem while also diversifying our economy so that we will no longer be as vulnerable to the price of oil again.
President Buhari has moved us from the path of failure to a path where we have a fighting chance to realize a better nation. Had we stuck to the ways of the former administration, our present situation would be worse than untenable. Those who publicly speculate about the issue of the President’s health must keep all of this in mind. Much is at stake. We owe a responsibility to be wise and circumspect in what is spoken into the public ear.
We voted for President Buhari because we trusted his ability to make decisions regarding complex issues of state. If we can trust him to handle difficult matters of governance, we can also trust him to make correct decisions regarding his personal health. The President Buhari I have come to know is an honest and responsible man and leader.
When he returned to Nigeria on March 10, he disclosed to the nation that he had been sick to the extent that he received blood transfusion and would leave for further treatment at some future date. He said he would follow the counsel of his doctors and there is every reason to believe that he has been true to their counsel. Many people have openly speculated about the President’s health. Some have done so for their own selfish reasons. These people shall be found out in time. There are many who have done so out of sincere concern for the President.
These people should not be condemned for their heartfelt concern. However, they should be advised not to allow fear to ambush their better judgment and their courage. They should not give themselves to idle speculation. We should not buy into the myth of some cabal at work. Dwelling in empty speculation on the existence of some mythic cabal is not what the country needs at present. From what I can see, the President remains at the helm and his policies are being implemented.
The President is also showing his belief in process and partnership by assigning more responsibilities to the VP, which included presiding over meetings of the Federal Executive Council, thus demonstrating his trust and implicit confidence in him. Unfounded speculation serves no purpose other than to encourage those who would rather derail the President’s progressive agenda and who would divisively pit one aspect of this nation against another. Such chatter may foment division where there was none and this might come to impair the management of the affairs of this country.
By fomenting animosity among groups that have heretofore been allied, those who hold to the bankrupt politics of yesterday seek to thwart the President’s mission while claiming to support him. Those who truly care about the President and the important work he still must do should not allow themselves to become the unwitting tools of these regressive forces.
We must stand with and beside our President. The unfounded speculation around his health should stop. We must not covet fear and rumor but should engage our creativity and enterprise to help the President accomplish his historic mission. Our greatest energies should be focused on righting this economy so that it provides a decent livelihood for all people. This critical path towards economic recovery must be followed for the sake of our children.
Strong indications emerged over the weekend that the Central Bank of Nigeria (CBN) is set to inject more foreign exchange through intervention segments of the market, thereby heightening expectations that the Naira will appreciate significantly during the week. The expectations became rife following the inability of the authorized dealers to fully subscribe to various amounts offered by the apex Bank on two consecutive times last week. Those two events alone sent jitters to currency speculators perceiving Dollar glut as imminent in the market. Spokesman of the apex Bank, Isaac Okorafor, in a chat with newsmen at the weekend, confirmed the anticipated interventions in most segments of the market during the week, with effect from tomorrow, Monday. According to him, the Bureau D’ Change (BDC) and the Small and Medium Scale Enterprises (SMEs) along with other major segments will also receive the adequate intervention with a view to providing liquidity in the entire foreign exchange market. Meanwhile, manufacturers have praised the CBN over the foreign exchange management strategy adopted recently. The Director General of Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadiri, was recently quoted as saying: “the recent pronouncement of the CBN comes as a relief. If the intervention is sustained, there’s no doubt that we will have continued improvement in sourcing raw materials.” Recently, a foremost entrepreneur, Tony Elumelu also lauded the foreign exchange regime noting that “the recent policy initiatives of the central bank under the watch of Emefiele had restored predictability, improved market confidence and significantly added a boost to the value of the national currency, fuelling optimism that the economy would soon rebound from recession.” [myad]
The Kogi State chapter of the Nigerian Medical Association (NMA) has called on its members to disregard threats by the state government to sack doctors over the ongoing strike. The doctors have been on strike over the non-payment of their salaries.
This was even as the State’s Acting Head of Service, Mrs. Kehinde Lawal, directed the Chief Medical Directors of hospitals to open duty registers from Monday, May 8, vowing to sack doctors that fail to report to work.
But Chairman of the Kogi chapter of the NMA, Dr. Tijani Godwin, asked the doctors, in a statement today, Saturday in Lokoja, to continue with the strike until their demands were met.
He encouraged the striking doctors to be resolute and never be intimidated, adding that no doctor should sign any register at any hospital.
“Any member, who disobeys the decision of the congress, will be sanctioned. The congress decision is binding on all members.”
Godwin asked the doctors to disregard threats meant to distract them from pursuing what was legitimately theirs, and stressed the need for the doctors to unite so as to save the profession.
Two passenger buses were said to have collided and caught fire at a quarry site at Km 96, on the Lagos-Ibadan expressway today, Saturday, killing the passengers in the two buses, except a baby who was said to have been thrown out through the window by his father An eyewitness told News Agency of Nigeria (NAN) that the two 18-seater buses had a head-on collision and the buses caught fire immediately.
“All the passengers in the two buses were burnt beyond recognition. Only a baby escaped death because the father of the child threw him out through the window of the bus,” the witness was quoted as saying.
The Oyo state sector commander of the Federal Road Safety Corps (FRSC), Yusuf Salami, confirmed the accident and said that he was yet to be briefed on the casualty figures.
He confirmed that the accident involved two 18-seater buses.
Nigeria’s Nobel laureate, Professor Wole Soyinka, has frowned at the numerous people across the country that have constituted themselves into an army of corruption-fighting-back and called on the Economic and Financial Crime Commission (EFCC) to set up machinery to identify and prosecute them.
Professor Soyinka, who made the call at the opening of his Vision of the Child Art Exhibition, 2017 edition, at Freedom Park, Lagos with the theme: Enhance the Heritage; Advance the Future, in celebrating Lagos at 50, said that most times, the anti-corruption agency was sent on the wrong track or wild goose chase, resulting to no prosecution.
“When we talk about corruption, is it not time we legislate against detractors, who deliberately create distraction. Say for instance, the money just found in Lagos.
“One governor claimed that the money belongs to his state government, claiming a proceed from the sale of some turbines and so on. It is a criminal act of distraction. He knew very well that he was lying, that the money was not his, but belongs to someone else.
“Obviously, acting in the interest of those accused of corruption; that to me is connivance and collaboration with corrupt people. I think such people should be criminalized by the Economic and Financial Crimes Commission (EFCC).”
Professor Soyinka commended the art works of the children and expressed the hope that with children exposing the corruption acts of the adults, Nigeria would be in for better days.
The Acting Chairman of EFCC, Ibrahim Magu, said at the occasion that the commission’s operation was not limited to investigation and prosecution of offenders, but also to enlighten the public on the dangers of corruption.
Magu said that the painting exhibition was one way to educate and enlighten people about corruption, stressing that the paintings exposed some ways in which adults were involved in corrupt practices.
“My views of the Nigerian child, from the across the plains, the hills, the forests and the swamps of Nigeria are those of innocence and boundless creativity.
“However, like most of the older generation, many of our youths seem also to be trapped in cocoons of corruption, which have built around them.
“However, Professor Soyinka’s “Vision of the Child” project and the sheer breadth and depth of these paintings by these youngsters, demonstrate very well that our children have an acute awareness of what is going on around them and are breaking free of the shackles of corruption.
“They also show the determination of the younger generation for their voices to be heard.
‘‘The uncomfortable questions they are asking us are; how and why did we allow this beautiful country to be turned into the cesspit of corruption?
“These paintings speak to all strata of our society and to every flank of the war against corruption and the common message I see running through all of them is: we will never give up on the ideals of a just and equitable society.
“The vision I see so eloquently expressed in these wonderful pieces of art is that of the irrepressible Nigerian spirit, refusing to be put down and reaching out for the Nigeria of our collective dreams: the Nigeria where our commonwealth is used for our common good and not looted by a few greedy, self-centred lot.
“I can confirm to you that corruption is already fighting back. But, even though massive resources have been deployed to fight back at EFCC, we draw strength and encouragement to carry on from the likes of these children and Professor Wole Soyinka.
“We draw the courage to soldier on from millions of ordinary Nigerians whose desires are for equity and social justice.”
Magu said that the EFCC is not personal in the discharge of its mandate, stressing that its personnel only fear God, with the guiding principles by the Rule of Law and the overriding interest of the country.
The News Agency of Nigeria reports that 38 students selected from different schools, participated in literary and painting works at the exhibition.
A 60 year old grandmother, Adebayo Ebunoluwa Mercy has confessed that she was lured into drug trafficking by an un-named friend she met at a party.
Mercy, who was arrested by officers of the National Drug Law Enforcement Agency (NDLEA) at the Murtala Mohammed International Airport (MMIA) Lagos along with another 59 year old grandmother, said: “I am a divorcee selling provision for survival.
“Things became rough and tough for me when I lost my capital due to family problems. It has been my dream to travel to the United States in search of greener pastures.
“My involvement in drug trafficking was an afterthought. My intention when I got my visa last year was to go and work to take care of my needs without being a burden to anyone. Everything changed suddenly when I met an old friend at a party.
“They took care of my travel expenses and gave me three thousand dollars with a promise to assist me secure a job in the United States. It was few hours to my journey that they brought the drugs for me to swallow. They said that it was my contribution for the kindness and money spent on my trip but it turned out to be my biggest mistake.”
Mercy, who hails from Kogi State, was found to have ingested eighty-three (83) wraps of heroin weighing 1.105kg on her way to the United States.
Also arrested was 59 year old Amodu Ayisat Grace, who allegedly ingested twenty-five (25) wraps of cocaine weighing 275 grammes on her way to Saudi Arabia.
Ayisat told investigators that as a Muslim, she was glad to travel to Saudi Arabia but her journey terminated at the NDLEA office, saying: “I was happy when they offered to sponsor my trip to Saudi Arabia but I never knew it will end in my detention. I sell fufu (staple food from cassava) to take care of my four children as a widow and this has been very challenging.
“They enticed me with a visit to Saudi Arabia and a handsome reward and I fell for trick. I only swallowed 25 wraps of the drug. Unfortunately I could not get to Saudi Arabia because of my arrest.” She was born in Lagos.
They were arrested during outward screening of passengers at the Murtala Mohammed International Airport (MMIA) Lagos.
NDLEA preliminary investigation revealed that this is the first time a grandmother of 60 years will ingest a whopping eighty-three wraps of narcotics. In addition, the second suspect was going to Saudi Arabia where drug trafficking attracts capital punishment.
Mercy was arrested while boarding a Virgin Atlantic flight to New York while Ayisat was caught trying to board an Ethiopian airline flight on her way to Medina, Saudi Arabia. The cases are under investigation.”
NDLEA Chairman and Chief Executive, retired Colonel Muhammad Mustapha Abdallah said that it is shocking and shameful for grandmothers to be involved in drug trafficking.
“This move by drug cartels to recruit grandmothers as mules is very disturbing, shocking and shameful. The moral emptiness exhibited by the suspects must be condemned by all.
“A situation where grandmothers have become a bad influence on their children and grandchildren is highly regrettable.” [myad]
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