Home Blog Page 699

IMF Queries Usage Of  Cryptocurrencies, Says Some Of Them May Be Illegal

The International Monetary Fund (IMF) has raised eyebrow over the usage of cryptocurrencies, especially in Nigeria, a situation that had recently made the Central Bank of Nigeria (CBN) to ask commercial banks to stop attending to them

The Resident Representative of the IMF in Nigeria, Ari Aisen, in a virtual briefing today, February 18 on the recently published 2020 Article IV IMF Staff Report for Nigeria, recalled that many central banks around the world have taken similar policy decisions as the CBN.

“The issue with some of the crypto currencies is that perhaps some care should be taken about their activities. The use of crypto currencies is a concern.  That is why some central banks, not only in Nigeria have these concerns about what kind of the activities these crypto currencies are put and how best to monitor those activities.

“Some of them may be illegal activities and may be related to money laundering, even drugs or other illegal things.  It is natural that the monetary authorities will be concerned about how best to supervise and increase their oversight regarding the use of crypto currencies.

“The CBN is thinking closely about its trade-offs and is trying to design the best policy in the interest of the payment system and the sustainability of the financial sector.”

The IMF official called for the “unification of foreign exchange rates,” to make the management of foreign exchange (forex) more transparent.

On forex scarcity, Aisen said that there has been some level of scarcity of foreign exchange out there and that it would be useful to unify rates to allow it flunctuate and to make forex more accessible to those who needed them.

It May Take 20 Years For Nigeria To Eliminate Boko Haram – Ex Army Chief, Buratai

The immediate past Chief of Army Staff, retired Lt. General Yusuf Tukur Buratai has said that it might take 20 years for Nigeria to completely eliminate Boko Haram insurgence.

This is because, he said, Boko Haram fighters are winning more people from communities, especially in the Northeast, particularly Borno State, aside from the problem of ungovernable spaces in the area and across the country.

Buratai, who was being screened today, February 18, by the Senate Committee on Foreign Affairs along with past members of the country’s service chiefs for Ambassadorial position, said: “My state (Borno), is an epicenter, where this indoctrination has penetrated so deep. They (insurgents) have won the communities to their side. That is why they (communities) keep Boko Haram. So it is complex, it requires a whole of government approach to solve this, military action or activity is just one aspect.

“One mistake that we have been making is that only the military can solve this. It is not. There are political, social, economic aspects that need to be addressed.

“Development should be progressive, there should be roads everywhere, there should be employment, schools and hospitals all over.

“Yesterday, I counted five local government areas in Borno State that do not have good access roads.

“In northwest, north central, there are so many ungovernable spaces, which the insurgents are penetrating. The places don’t have schools, hospitals and so on and education is very fundamental.

“Unless these things are done, this insecurity will continue because the truth must be told. It may take another 20 years for the country to surmount the problem of Insurgency and that is the truth.”

Also speaking at the screening by the Senate Committee, the immediate past Chief of Defence Staff, retired General Abayomi Gabriel Olonisakin, attributed the security challenge in the country, especially Boko Haram insurgency to the over 1,000 forest reserves in the country that are not well managed and secured by respective state governments.

He stressed that the problem at hand requires a well galvanized national approach for it to be surmounted since it is more of an asymmetric cum hybrid warfare as against the conventional ones that can easily be confronted and defeated.

“I want to say that the solution to insecurity is multi-pronged. We talk about conventional warfare and asymmetric warfare. We are talking about hybrid warfare where everyone is involved.

“It is not about kinetics. Kinetics gives only 35 per cent success rate in any war we are fighting. It is a national approach that must be properly galvanized for us to actually surmount the insecurity.

“I will say three years ago, I conducted a research on the forests in the country. I realized we have over 1,000 forest reserves. I sent the team to Kenya. They went to Kenya and brought out a paper and I said then, three years ago that our next crisis will be in the forest.

“Some governors were invited and we told them because most of the forests are the prerogative of states. The states took over all the forest reserves. I told them that we have to protect the forests. We have to send troops to protect the forests.

“We did the research in 2018 for six months. I said that the next problem we are going to have is in the forests. But again, it is with us right now. It requires a multifaceted approach.

“Everyone has to come on board for us to be able to address the insecurity situation. You can never have enough weapons, personnel and so on but there are issues we must address and then it has to be all about the nation”

Former Chief of Air Staff, Air Marshal Abubakar Sadique, former Chief of Naval Staff , Vice Admiral Ibok – Ete Ibas and former Chief of Defence Intelligence , Air Vice Marshal Mohammed Sani Usman , who also appeared before the Senate Committee made similar observations and suggestions.

The former Intelligence Chief identified lack of synergy among the various security agencies, as one of the reasons for the lingering security challenges the country is facing.

After the separate screening carried out on the five nominees, the chairman of the Committee, Senator Adamu Muhammad Bulkachuwa (APC Bauchi North), said the committee will submit its report to the Senate next week.

NAFDAC Approves AstraZeneca Vaccine For Coronavirus In Nigeria

The National Agency for Food and Drug Administration and Control(NAFDAC) has approved the use of AstraZeneca Vaccine for use in Nigeria.

At a news briefing today, February 18 in Abuja, the Director-General of NAFDAC, Professor Mojisola Adeyeye, said that NAFDAC got the dossier of the vaccine a week ago, while its safety committee went to work immediately to evaluate its safety and efficacy for Nigerians.

She said that the vaccine could be stored in two to eight degrees Centigrade, adding that there are three additional vaccines undergoing evaluation.

Astrazeneca Vaccine was recently approved by the World Health Organization for emergency use to curtail the spread of COVID-19

Niger Govt Gives Names Of Kidnapped Kagara Students, Staff

The names of persons abducted by armed bandits from Government Science College, Kagara,

Niger State government has given the names of the students and staff o of the Government Science College, Kagara by armed bandits.

The armed bandits, at about 01.30 am on February 17,  stormed government Science College Kagara, Rafi LGA Niger State and kidnapped 27 student, 3 teachers and 12 of their families.

The State government gave the names of the teachers kidnapped as: Hannatu Philip, Lawal Abdullahi and Dodo Fodio. “The Non-teaching staff are MOHAMMED Musa and Faiza Mohammed. The family members are Christiana Adama, Faith Adama,  Maimuna Suleman, Nura Isah, Ahmad Usah, Khadizat Isah, Mohammed Mohammed, Aisha Isah and Saratu isah. “The List of the Students are: Jamilu Isah, Shem Joshua, Abbas Abdullahi, Isah Abdullahi, Ezekeil DANLADI, Haliru SHUIBU, Mamuda suleman, Danzakar DAUDA, Abdulsamad Sanusi and Bashir Abbas “Other students include Suleman LAWAL, bdullahi ADAMU, Habakuk Augustine, Idris MOHAMMED, Musa ADAMU, Abdulkarim Abdulrahman, Abubakar Danjumma, Abdullahi Abubakar, Bashir kamalideen and  MOHAMMED Salisu. Others are Yusuf M Kabir, Isah Abdullah makusidi, Polineous Vicente, Lawal BELLO, Mohammed k Shehu, Mubarak sidi and Abdulsamad Nuhu. Benjamin HABILA was the name of the student by the bandits in the college premises.

Source: PRNigeria

Nigeria Bounces Back, Crawls Out Of Second Recession, NBS Confirms

Nigeria’s economy has crawled out of the second “more dangerous” recession in the fourth quarter of 2020 as restrictions to curb the spread of the coronavirus were eased.

According to the National Bureau of Statistics (NBS), on its website today, February 18, Gross Domestic Product (GDP) grew 0.11 percent in the

three months through December from a year earlier, compared with a decline of 3.6 percent in the third quarter, the Abuja-based National Bureau of Statistics said on its website on Thursday.

The median estimate of five economists in a Bloomberg survey was for a quarterly decline of 1.86 percent.

The economy contracted 1.92% for the full year, the most since at least 1991, according to International Monetary Fund data.

The surprise rebound means Africa’s largest economy may recover faster than expected as the oil price and output increase this year.

It could also point to the growing dominance of the non-crude sector, according to Joachim MacEbong, a senior analyst at SBM Intelligence in Lagos.

Oil production fell to 1.56 million barrels a day in the fourth quarter from 1.67 million barrels in the previous three months.

While crude contributes less than 10% to the country’s GDP, it accounts for nearly all foreign-exchange earnings and half of government revenue in continent’s biggest producer of the commodity.

The government’s forecast for growth of 3% this year is double that of the IMF.

A stronger recovery could ease pressure on the central bank to stoke activity, paving the way for a renewed focus on its price stability mandate.

Accotding to a Bloomberg report, “That means the monetary policy committee could start raising interest rates again to fight inflation that’s been above the target band of 6% to 9% for more than five years. The panel eased by 200 basis points in 2020.”

Nigerian Soldiers Go After Kidnappers Of Kagara Students, Staff

Nigerian soldiers are believed to have been in hot pursuit of bandits who kidnapped members of staff and students of Government Science School, Kagara in Rafi Local Government Area of Niger State in the early hours of today, February 17.

A statement today by the Nigerian Army said that in line with it’s constitutional mandate, reassured the general public that soldiers, in operational synergy with sister security agencies, are in hot pursuit of the criminal elements in order to ensure safe return of the kidnapped victims.
The Army called on members of the general public to provide actionable information to security agencies that would lead to the arrest of the criminal elements.
Report had it that the bandits gained entry into the school in the early hours of today and kidnapped about 17 students and some staff.

Defence Minister Asks Nigerians Not To Be Cowards In The Face Of Bandits

The Nigeria’s Minister of Defence, retired Major General Bashir Magashi has asked Nigerians not to show that they are cowards when confronted by bandits.

Speaking to newsmen today, February 17 as shown in a video posted on Twitter by AIT, Magashi emphasized people should show that they are not cowards by defending themselves, pointing out that the operations of bandits are sometimes carried out with a few rounds of ammunition.

“It is the responsibility of everybody to keep alert and to find safety when necessary. But we shouldn’t be cowards.

“At times, the bandits will only come with about three rounds of ammunition, when they fire shots everybody runs. In our younger days, we stand to fight any aggression coming for us.

“I don’t know why people are running from minor things like that. They should stand and let these people know that even the villagers have the competency and capabilities to defend themselves.

“Our own duty is to ensure that no Nigerian is hurt, and we are capable of protecting the integrity of this nation and we’ll continue to do it even though we are so stretched.”

Asked if Nigerians should be permitted to carry arms, General Magashi said: “even in the developed countries, they are still debating on it, whether to continue or not.

“But I don’t advise Nigeria (government) to start issuing firearms for personal use.”

Minister Cries Out Over Rising Insecurity In Abuja, Caused By Scavengers, Cultists, Others

The Minister of the Federal Capital Territory (FCT) Abuja, Malam Muhammad Musa Bello has expressed discomfort with the menace of  scavengers, cultism and drug abuse that have constituted security nuisance to the capital city.

The Minister, who spoke yesterday, February 16, at the regular FCT Security Committee meeting in Abuja, said that the scavengers who often operate under the influence of hard drugs, perpetrate a lot of criminal activities within the city.

“Each time there is crisis, you find that people of no known address, people without any means of livelihood suddenly come up with arms and start fighting each other and killing each other. All these are done under the influence of drugs and this is something that we are going to confront head-on.”

Muhammad Musa Bello said that the scavengers had hitherto concentrated their criminal activities on vandalizing public utilities but had now become major threats to lives and property, reiterating that their activities remain banned in the Federal Capital City

He said that there will now be an improved working synergy within the security and intelligence community in the FCT because the task of the provision of adequate security cannot be left to the police alone.

He also called for the support of the citizenry, especially in terms of providing intelligence to the security agencies, saying: “we need citizens’ support, especially in terms of intelligence dissemination and also for leaders at all levels, whether it’s at the ward level or at the city level or at the village level or at the Area Council level.

“Political leaders at all levels, as well as traditional and religious leaders have to play their part and we need to communicate and also encourage citizens to be law abiding and also to provide needed intelligence. Doing that, I think by the grace of God, we will surmount and continue to make FCT a very safe place for everybody”.

The Minister said that the security agencies also briefed the Committee on their plans and strategies to fight the kidnappings that occur, especially in communities outside the Federal Capital City.

Muhammad Musa Bello said that efforts will be made to continue to encourage the cordial relationship between herders and farmers within the FCT in order to prevent clashes between them.

This was even as the Minister of State, Dr. Ramatu Tijjani Aliyu reassured the residents of the capital city of their safety as the Administration is not unaware of the security challenges, adding that it is taking all necessary measures for the protection of lives and property.

She said that the Administration is paying great attention to the reoccurrence of the Ebola Virus disease in Guinea, taking into consideration that the FCT is an international gateway into Nigeria.

Dr. Tijjani Aliyu called on private clinics running the COVID-19 tests without reporting their finding to the relevant health authorities to desist from doing so.

She called for the full disclosure of all mortalities suspected to be COVID-19 so that post mortems can be carried out on the deceased so that their relations can receive adequate care.

APC Is Seeking To Divide Us, PDP Cries Out

The Peoples Democratic Party (PDP) has cried out over an allegation that the ruling All Progressives Congress (APC) is seeking to divide its rank and file.

The party attributed reports that members of the party’s National Working Committee (NWC) are calling for removal of the National Chairman of the party, Prince Uche Secondus, to the handiwork of APC.

In an interactive session with newsmen today, February 17 in Abuja, the spokesman for the PDP, Kola Ologbondiyan, said “we have a responsibility to move the party forward so we have no issue with our national chairman. You will agree with me that if there is any kind of issue, the environment will not be the same.

“It is the All Progressives Congress (APC) that is seeking to divide the PDP. But one assurance I will give is that the NWC is united. There is no rancour and we are working on how to deliver the party in the 2023 general elections.”

Atiku Warns Against Paying Ransoms To Kidnappers, Says Ransoms Encourage Them

Alhaji Atiku Abubakar | Reuters

Former Nigeria Vice President, Atiku Abubakar has warned against paying ransom to kidnappers for the purpose of releasing kidnapped victims, saying that such ransom will continue to encourage them to continue in the criminal act.

Reacting to the kidnapping of students and staff of Government Science College, Kagara in Niger State, in a statement today, February 17, Atiku said: “we have now seen that paying ransoms and allowing criminals to profit from their criminality is not a solution. When you reward crimes, the end result is more crime.”

The former Vice President, who was also a presidential candidate of the Peoples Democratic Party (PDP) in the 2019 election, regretted that the reported death of one of the students in the process of escape.

“The spate of insecurity in Nigeria is now beyond alarming. It has gotten to crisis levels, especially when it involves children and other minors.

“Now is not the time for fingers to point in blame. Our nation needs solutions.”

Atiku said that the only long term solution to the insecurity challenge Nigeria is facing is to end the reign of impunity.

He insisted that the Federal Government must enforce the laws of the Federal Republic of Nigeria against abductions and kidnappings, by apprehending the criminals, trying them and making an example of those convicted, to serve as a deterrent to others.

“Also, we must be proactive. We cannot wait for these abductions to happen and then go into reactive mode.

“I therefore call on the Federal Government to declare all secondary and primary schools in the affected states and zones,  as Federal Protected Zones, and post armed military personnel at all schools for 24/7 protection. If it is not feasible to have armed military guards in all schools, then each state in the should as a matter of urgency replicate the Civilian Joint Task Force idea, that has worked so well in Borno, and deploy them to each school, along with men of the Nigeria Security and Civil Defence Corps.

“What we must not do is do nothing. History may forgive us for making wrong decisions, but we will never be forgiven if we carry on business as usual.

“As a nation, we must be willing to provide the same level of security that we provide for the schools that the children of the elite attend, for schools that the children of other classes of Nigerians attend.

“I pray that the Kagara staff and students are rescued, and for peace to return to Nigeria.”

Advertisement ADVERTORIAL
WP2Social Auto Publish Powered By : XYZScripts.com