Forex: Central Bank, Again, Boosts Wholesale Segment, Others With $210 Million

The Central Bank of Nigeria (CBN) has again intervened in the Forex with the injection of $210 million into the inter-bank Foreign Exchange Market.

The Central Bank of Nigeria (CBN) has again intervened in the Forex with the injection of $210 million into the inter-bank Foreign Exchange Market.

President of the Nigerian Senate, Ahmed Lawan, today, July 30, announced the constitution of 69 committees, assigning each of the committees with a chairman and Vice chairman.

President Muhammadu Buhari has described the late MKO Abiola as a bridge builder who could have prevented the religious and tribal issues besetting the country now from happening, if he had been allowed to rule Nigeria.
President Muhammadu Buhari has said that he would not like to be a burden on anyone that will succeed him after 2023 by turning himself into political godfather.
He made it clear that anybody who wants to succeed him must work hard the same way he did, three times, before he finally got the power through the help of technology.
President Buhari, who spoke today, July 30, as he received in audience, members of the Progressive in Academics (Pro-Acad) at the Presidential Villa, Abuja, stressed that he would be creating problems for anyone he picks now to succeed him.
Responding to the point raised by members of the group that he should start to groom a young person who would replace him when his second term tenure expires in 2023, Buhari said that no one should think that he can just become president overnight.
“To me, this (issue of choosing a successor) is very funny. I think if I identify anybody I will create more problem for him or for her. So, I would rather keep my mouth shut. Let those who would want to be president try as much as I did. And I believe that those who are interested know that I tried three times. And the first time, I thank God and technology, PVC. Before, they would just go to the television and they read the results. They would say anybody who disagreed should go to court. And most of my supporters are looking for next day’s meal. They don’t have money to give to lawyers. So I said God dey. So, the fourth time, God and technology came along through PVC. They couldn’t rig the election so I won. This time around…I tried to work hard but I think you have a lot more to do as intellectuals so that you correctly document Nigeria’s political developments. It is very important for the next generation. A lot of our young chaps are taking things for granted. “Imagine to contest election three times ending up in Supreme Court three times. It needs a lot of conviction you know, and hard work. “But people take success for granted. They say, ah, he’s the President. They think I just closed my eyes and I got it?”
Responding to the issue of education and the almajiri in the country, the president said: “Nigerians overwhelmingly voted for progress, they decided not to go back to the dark days of impunity and corruption.
“Education remains a top priority for our government. In the last four years, we injected over N1 trillion into education through the Universal Basic Education Commission (UBEC), Tertiary Education Trust Fund (Tetfund) and our needs assessment interventions.
“We also released N25 billion to public universities to pay earned academic allowances to lecturers. “Of course, you are all aware of the rot we uncovered at JAMB and many other institutions. “Our home grown school feeding programme covering more than two million children couple with our social investment initiative has encouraged many parents to send their children to school and also pay for more teachers in classrooms.
“In the next four years, we shall continue with the work to transform the sector bearing in mind our high population growth rate, financial challenges and security issues especially those grossly affected areas. “Simply put, our focus and agenda can only be sustained if we have educated and secured society. Therefore, we have no choice but to produce more engineers, technicians, doctors, nurses and the teachers. “To achieve this, we shall continue to seek your advise and guidance. I am pleased to note some of the ideas you proposed, this submission is timely as we prepare for the next level.”

Nigerian senate has given Edo State governor, Godwin Obaseki one week ultimatum to issue a fresh proclamation letter to reconvene the state house of assembly.
It ordered that the clerk of the Assembly to inform all the 24 members elected through print and electronic media about the new inauguration date after receiving the proclamation letter from the governor.
The Senate resolved that if the proclamation is not made in one week it shall take over the functions of the State House of Assembly.
The Senate resolution followed the adoption of the report of the Senate ad hoc committee on crisis rocking the Edo State House of Assembly crisis, presented by its chairman, Senator Sabi Abdullahi (APC Niger) at yesterday, July 29 plenary after two weeks of investigation.
The Senate’s action aligned with the House of Representatives, which issued a similar directive two weeks ago.
The Senate said that its action was hinged on Section 11 (4) of the 1999 Constitution which empowers it to wade into such crises and take over the legislative duties of such crisis-ridden assemblies.
The Senate started looking into the matter following a point of order raised by Sen. Opeyemi Bamidele (APC Ekiti) on July 10.
Among other recommendations of the Senate is that a proper proclamation should be issued by Obaseki and must be advertised in both print and electronic media, inviting all the 24 members of the assembly to its inauguration.
However, a contrary position was taken Sen. Rochas Okorocha (APC Imo), who said that the Senate appeared to be in a hurry to take over the Edo State House of Assembly.
“The National Assembly seems to be overreaching its boundary in this matter. We appear to be in a hurry to take over the Edo State House of Assembly. We should see this as a family affair in APC and we must not ridicule ourselves in public, rather we should look into the matter instead of this position the Senate is taking”.
“I have been a governor before and I think what is happening in Edo is simply a failure of leadership which can be addressed,’’ he said.
Senator Sam Egwu (PDP Ebonyi), however disagreed, saying that it was wrong for the state governor to have constituted an assembly by 9 p.m., referring to a claim by the ad hoc committee.
“It is suspect for the governor to have issued a proclamation constituting a parliament by 9 p.m. For me, the governor did a very wrong thing.”
President of the Senate, Ahmad Lawan, while defending the position, said: “The decision is in conformity with the decision of the House of Representatives two weeks ago.
“If the National Assembly can reach out to the president on any matter, I don’t see any reason why same cannot be done in any state when democracy is threatened”.
“I thank the National Assembly and the committee for coming to the rescue of democracy again.”
Governor Godwin Obaseki, while reacting to publication in one of the National dailies that President Buhari directed him to issue fresh proclamation earlier, had said that he would not issue a fresh proclamation letter for the inauguration of the 7th Edo State House of Assembly.
According to him, the Nigerian Constitution of 1999, as amended, mandated state governors to issue proclamation only once for the inauguration of their Houses of Assembly and he has dutifully performed the function.
The Senate has confirmed all the 43 ministerial nominees forwarded to it last week by President Muhammadu Buhari.
The upper legislative chamber confirmed the nominees today, 30 after concluding with the immediate past minister of information and culture, Lai Mohammed; Saleh Mamman from Taraba State, and Sabo Nanono from Kano State.
Mohammed was asked to take a bow and go as he was the last person to be screened.
Below is a list of all confirmed nominees:
Ikechukwu Ogar – Abia
Mohammed Musa Bello – Adamawa
Godswill Akpabio – Akwa Ibom
Dr Chris Ngige – Anambra
Sharon Ipeazu – Anambra
Adamu Adamu – Bauchi
Maryam Katagum – Bauchi
Timipre Sylva – Bayelsa
George Akume – Benue
Mustapha Baba Shehuri – Borno
Godie Jerry Agba – Cross River
Festus Keyamo – Delta
Ogbonnaya Onu – Ebonyi
Osagie Ehinare – Edo
Clement Agba – Edo
Adeniyi Adebayo – Ekiti
Geoffrey Onyeama – Enugu
Ali Pantami – Gombe
Emeka Nwajuba – IMO
Sulaiman Adamu – Jigawa
Zainab Ahmed – Kaduna
Hadi Sirika – Katsina
Abubakar Malami – Kebbi
Sabo Nanono – Kano
Maj Gen Bashir Saleh – Kano
Ramatu Tijani – Kogi
Lai Mohammed – Kwara
Gbemisola Saraki – Kwara
Olorunnibe Mamowora – Lagos
Babatunde Fashola – Lagos
Subairu Dada – Niger
Olamilekan Adegbite – Ogun
Tayo Alasoadura – Ondo
Rauf Aregbesola – Osun
Sunday Dare – Oyo
Paulen Tallen – Plateau
Rotimi Amaechi – Rivers
Mohammed Maigeri Dengaji – Sokoto
Saleh Momoh – Taraba
Abubakar D Aliyu – Yobe
Former governor of Osun State, and ministerial nominee, Rauf Aregbesola, has made it clear that if he is cleared to be a member of the Federal Executive Council, he will initiate different taxes for both the rich and the poor in Nigeria
Aregbesola, who spoke today, July 29 as he was being screened by the Senate, said: “there’s a limitation to what we can do about multiple taxation at the federal level. But we can make the rich and the wealthy do the proper thing. I will create privileges tax for those who are wealthy and rich in Nigeria. I will advocate a just taxation system that will bridge the gap between the rich and the poor in the society.”
The former governor, in his response to a question from Senator Bashir Gasau (PDP-Zamfara), who asked him about what led to the reported inability of his government to pay workers for four years, described those carrying such information as “ignorant and mischievous.”
He said that the state under his stewardship just like others fell victim of economic recession in 2014, but was able to manage the situation with initial payment of half and full salaries depending on grade levels.
“On the issue of non-payment of salary, it is untrue that we didn’t pay salaries and this can be out of ignorance and mischief”.
“Just like other states in the country in 2014, Osun State felt impacts of the economic recession. But we were able to manage the situation. From July 2015 to July 2018, we paid full salary to all civil servants from levels 1 to 7, who constituted 72% of the workforce”.
“Within the same period of time, all levels 10 to 12 workers got 75% of their salaries, while from level 13 and above including all political office holders were paid 50%”.
“This was because we invested heavily in infrastructure. But today, we have cleared all that and my successor is doing his best in prompt payment of salary,” he said.
The nominee added that the measure was a temporary solution at the time as proffered by his economic team.
Source: NAN.

The national chairman of the ruling All Progressives Congress (APC), Adams Oshiomhole has beaten his chest, narrating how the immediate past Senate President, Dr. Bukola Saraki was completely uprooted from Kwara State politics.
“Remember I was saying that Saraki must be removed; people would say how would I do it? I said okay if he resists removal then we would uproot him. We went to Kwara; we did Otoge and we uprooted Saraki…and you cannot commend me for this? You know who Saraki is?
“If you are talking of the smartest political player, seasoned smart guy, he is. But for every smartness he has, I have a superior smartness. At the end of the day who won?”
Oshiomhole, who spoke to news men today, July 29 shortly after a private audience with President Muhammadu Buhari at the Presidential Villa, Abuja, stressed: “we uprooted him as senate President, we uprooted him as senator, we uprooted his nominee for governor, and senators; we put our own. Today, he doesn’t have one senator in Kwara; he doesn’t have one House of Representative in Kwara. Everything in Kwara is APC and you can’t commend me for that? If you don’t then I will be like lizard – I will praise myself if you, the state house correspondents don’t praise me.”
The APC boss made a jest of Nigerians who are criticizing President Buhari’s ministerial nominees and saying that most are enjoying political patronage but not credibility, asking: “how credible are some of those who are talking? The point is that I don’t know if there is a Nigerian who knows every Nigerian. Even as I can say that I have worked for Nigerian people at all levels; as a worker in a factory, as President of the NLC, as governor of a state and now as a national chairman of a party, there are too many Nigerians I will never be able to know.
“The screening process (for the ministerial nominees) is meant to enable those watching; it is not for nothing that it is televised. It is to enable Nigerians see who these people are. But you will find that people started dismissing the list even before the saw it, just like some other things that Nigerians dismiss without knowing the meaning.
“So, what you and I should insist on is that in the president’s second term, in this next level, our party, our government at the center, state and local government level must deliver. That is the entry point for every Nigerian.
“And when you talk of patronage, should we appoint…have you heard of Americans pointing Russians because they are experts to go and preside over their MDAs? Even in your newspapers do you invite me as APC chairman to come and write your editorial?
“Patronage can be positive or negative but if there is one man who has shown the capacity to patronize all including where he did not win election, it is President Muhammadu Buhari. Otherwise, where we got less than five percent, I saw two ministers coming from that state, inspite of the fact that he got less than five percent there. That speaks volumes about a large heart, to accommodate, appreciate and to have an all inclusive government.
“I am very optimistic that these ministers coming all of us working together, the party, the executive which the ministers belong and the National Assembly where we have overwhelming majority, we have what it takes to take Nigeria to the next level and the next level we are going there.”
The Independent National Electoral Commission (INEC) has shocked the Peoples Democratic Party (PDP), and its Presidential candidate in the February 23 Presidential election as it closed its defence without inviting any witness in its favour at the Presidential Election Petition Tribunal, sitting in Abuja, the nation’s Federal Capital.
Counsel to the Commission, Yunus Usman (SAN), said in his oral application today, July 29 at the Tribunal: “my Lords, we will not be calling any witnesses to defend the petition filed by the Peoples Democratic Party (PDP) and its presidential candidate, Atiku Abubakar, against conduct of February 23 election that re-elected Muhammadu Buhari as President”.
“Our client will instead rely on the evidence it obtained from the petitioners’ witnesses under cross examination. There is no need calling witnesses to help the petitioners’ case as doing so would have negated INEC’s stance as impartial umpire.”
The five-man panel headed by Justice Mohammed Garba gave the Commission six days to produce defence for the allegations made by the petitioners on the conduct of the presidential election.
Following this development, the tribunal adjourned until July 30 for the second respondent (Buhari) to open his defence.
INEC, Buhari and the All Progressive Congress (APC) had early tried to deflate all the issues canvassed by the petitioners at separate cross examinations of the 65 witnesses that testified on their behalf.
The respondents on July 15 described the 48 Compact Discs evidence tendered by the petitioners as lacking in probative value and therefore challenged their admissibility.
Recall that four of the video clips played in the court hall included “Count down of Osun Decides’’, a production of Channels Television with Seun Akinboloye as host.
In the above production dated Feb.8, Mr Mike Igini, Resident Electoral Commissioner for Akwa Ibom had talked about the readiness of the electoral body to transmit the Feb.23 general election electronically.
The second video was a clip of the postponement of the general election by INEC Chairman, Prof. Yakubu Mahmood.
The third video was a clip of AFEX Nigeria training of INEC Ad-hoc staff on electronic result transmission.
Similarly, the briefing by the Nigerian Army authority on the status of Buhari’s alleged certificate saga completed the four materials shown in court.
INEC’s counsel had said that all the video clips tendered by the petitioners related to the commission’s activity before the election.
Usman had alleged such videos had no nexus with the activities that happened during the conduct of the election.
He also made the witnesses at various points to confirm that the chairman of the electoral body only expressed the hope of the commission to transmit results of the general election electronically, but that it was not actually done.
He also said that no officials of the commission except the chairman’s express permission had the statutory right to speak on behalf of the body.
On his part, Chief Wole Olanipekun, SAN, counsel for the president at various times of his cross examination of the petitioners’ witnesses clearly established from them that Buhari had his WAEC result.
The respondents had on July 16 further attempted to dislocate the petitioner’s video clip evidence on the allegation that INEC had concluded decision to transmit the election’s result electronically.
To this end, Dr Alex Izinyon, SAN, Counsel for the president, tendered a Channels Television video of INEC’s chairman where he specifically said that the result from the Feb.23 general election would not be transmitted to the commission’s central server.
Chief Chris Uche, SAN, Counsel for the petitioners had on July 15 led a star witness, Mr Segun Showunmi to tender the 48 Compact Discs evidence to substantial their claims.
Counsel for the respondents had also claimed that the petitioners’ 33, 234 documentary evidence placed before the tribunal were “mere papers’’ bearing no convincing contents.
Source: NAN.
The London Metropolitan Police have agreed to pay the sum of £2,500 to a Nigerian street Christian preacher, Oluwole Ilesanmi, who preached on the street of London against Islam, as compensation for wrongful arrest humiliation and distressing treatment.
The 64 year old Ilesanmi was accused of Islamophobia, describing Islam as aberration on the street outside Southgate Tube station in London in February. The preacher was handcuffed and driven four miles away by police before his release.
The preacher admitted that he actually referred to Islam as an ‘aberration’ but said that he was just expressing his point of view as a Christian rather than denigrating Muslims.
The street preacher, who is a dentist by profession, was arrested by the London police following complain by passers-by who accused him of hate-speech.
His encounter with the police was recorded in a viral video. In the video, a policeman took his Bible away even as one of the police officers charged him for disturbing the peace.
“No one wants to hear that. They want you to go away,” the officer said.
But, the UK police have refused to apologize for taking him away from the tube station where he was arrested.
A Metro spokesman said: “the Metropolitan respects and upholds the rights of all individuals to practise freedom of speech, and this includes street preachers of all religions and backgrounds.
“However, if the language someone uses is perceived as being a potential hate crime, it is only right that we investigate. In this case, it was deemed appropriate to remove the man from the area.”
Source: The Mail on Sunday.