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Bayelsa State government has expressed worry over the vandalisation of over 253 electricity transformers in different communities around Yenagoa, the state capital, as Transmission Company of Nigeria (TCN) is set to restore power to the state after four months blackout.
The entire state was on July thrown into darkness as vandals destroyed 132kv double circuit line, which affected over 19 electricity towers, in Ahoada, Rivers State that supply light to the state from the national grid.
Conquering the clouds on a journey to Ta Xua with the team - Road Trip Vietnam Team - Nếm TV
The state Commissioner for Information, Orientation and Strategy, Mrs Ebiuwou Koku-Obiyai, while giving an update on the power situation in the state during a press briefing on Monday, said though the vandalised power towers were federal government’s property, the state fixed them for the benefits of the residents.
She disclosed that the state government would soon inaugurate a task force that will be going round stores, shops and other places to uncover those selling second hand armoured cables.
She urged community leaders to take the responsibilities of protecting the government property in the areas against vandalsiation.
He said: “We are here again today to provide an update on the power situation. Like we all know, about four months ago, vandals actually destroyed three towers in Bayelsa State, initially 13 between Ahoada-Mbiama. Later another three went down, a total number of 16, and three in the Bayelsa end. For the past four months, we have been in darkness in Bayelsa. The towers are not the property of the Bayelsa State government, all those towers belong to the Federal Government, and they are the one that are responsible for maintaining those towers, but because of the situation we found ourselves, the state government has committed a lot of funds in repairing those towers.
“The update we are bringing is that the power towers have been completed. We will have power this week, we also observed that out of more than 500 transformers we have, about 253 have been vandalised again, some armoured cables removed. We have the responsibility of protecting the government property that we benefit from. Today (Monday), some parts of the state will have light, as soon as we hook up to the light, while some will not have light.
“The government will soon inaugurate taskforce to go round shops and anywhere the vandals are hiding. If we see anybody selling second hand armoured cable, they must be able to tell where they get it from.”
Also Speaking, the Managing Director/CEO of Bayelsa State Electricity Company Limited, Engr. Olice Kemenanabo, explained that the Transmission Company of Nigeria (TCN) was able to restore power to Ahaoda and was working in Mbiama to connect Bayelsa State.
Regional Manager, PHED in Bayelsa State, Engr. Lawrence Emeyi, appreciated the state government’s effort in fixing the vandalised towers, stating that the company is ready for business in the state.
[DailyTrust]
The Central Bank of Nigeria Governor, Olayemi Cardoso said the federal government spent N6.2 trillion on foreign exchange subsidy in 2022 alone compared to N4.5 trillion spent on fuel subsidy.
Cardoso disclosed this in a recent 59th annual Bankers Dinner of the Chartered Institute of Bankers of Nigeria, CIBN, in Lagos.
According to him, in the past years, FX subsidy losses have been a bigger problem for the country’s revenue than fuel subsidies.
“In 2022 alone, the potential revenue total revenue lost due to a less reflective FX regime is approximately N6.2 trillion compared to 4.5 trillion from fuel subsidies.
“We have all been complaining about the loss of government revenue from fuel subsidies, yet the loss from the past FX subsidy regime far exceeds that of fuel.
“The real elephant in the room is the losses from the FX regime.”.
Recall that in June last year, the Nigerian government had announced Naira floating and fuel subsidy removal.
The twin policies had a lag impact on Nigeria’s economy as inflation stood at 33.88 percent and the exchange rate at N1672.69 per dollar from 22.41 percent and N463 between May and June 2023.
Barring any last-minute change of plan, the workers in the Federal Capital Territory, Cross River, Nasarawa, Ebonyi, Kaduna and Zamfara states may down tools on Monday (today) following the failure of the state authorities to negotiate the payment of the N70,000 new minimum wage.
Though the implementation panels set up by the concerned states have been meeting with labour leaders in a bid to ward off the strike action, the various state chapters of the Nigeria Labour Congress have expressed their readiness to embark on a strike from today.
The FCT Council of the NLC had earlier directed the workers in the six Area Councils to embark on an indefinite strike on December 1 until further directives were issued.
This was contained in a letter signed by the Chairman of the FCT Council of the NLC, Stephen Knabayi, on Saturday.
This followed the directive of the NLC leadership to workers in 14 states and the FCT to embark on industrial action from Sunday over the non-implementation of the new minimum wage.
Knabayi faulted the failure of the area council chairmen to respond to the demand for the implementation of the minimum wage, despite receiving the communique of the National Executive Council of the NLC dated November 14, 2024.
The Nasarawa State chapter of the NLC on Sunday declared its readiness to declare a strike if the minimum wage was not paid.
The state NLC Chairman, Ismaila Okoh, disclosed that a notice of strike had been issued to all the labour members.
He, however, revealed that the Nasarawa State government had reached an agreement with the union to pay N70,500 to the workers, adding that no document had been signed regarding the implementation.
He said, “We have notified all our members to embark on strike tomorrow (today) because of the non-implementation of the national minimum wage in the state.
“Although the minimum wage committee set up by the state government has agreed to start paying N70,500, no document has been signed to that effect up till this moment.
“So, we are observing the situation to see if the documents on the minimum wage will be signed before tomorrow morning. However, if nothing is done between now and midnight, our members will have to fully comply with the strike as they were directed.”
To avert a shutdown, the Kaduna State Government said it had commenced the implementation of the new national minimum wage, with the least-paid worker in the state receiving N72,000 as gross salary in November.
The PUNCH reports that many states agreed to pay above the N70,000 minimum wage, with Kaduna State offering its workers N72,000 as minimum wage.
Despite the positive development, the state chapter of the NLC confirmed its planned strike.
The state’s chairman of the NLC, Ayuba Suleiman, said the workers would embark on a strike as directed by the NLC leadership.
When asked if the NLC was prepared to embark on a strike, Suleiman replied, “Yes, we are set for the strike.”
However, a statement on Sunday by Ibraheem Musa, the Chief Press Secretary to Governor Uba Sani, insisted it was “a misrepresentation for the NLC to claim that the state has defaulted in the payment of the new minimum wage.”
Musa noted that the state government had complied with the letter of the National Minimum Wage Law.
“His Excellency, the Executive Governor of Kaduna State, Senator Uba Sani, has complied with the spirit and letter of the National Minimum Wage Law, by paying the lowest paid civil servant N72,000 last month,” he said.
He added that the NLC had been pushing for consequential adjustments but the state government argued that there was a difference between salary increments and the minimum wage.
Musa explained that the state government received an average of N8bn from the Federal Allocation and generated around N4bn monthly, totalling N12bn revenue.
However, he said with the implementation of the minimum wage, the monthly wage bill had increased from N5.4bn to N6.3bn, including N4bn deduction for loan payments every month.
This, he said, left only N2bn for rural transformation, healthcare, education, and other public services in the state.
“It will be unfair for Kaduna State Government to spend almost all its revenue on consequential adjustments, after paying the mandatory minimum wage.
“There are over 10 million people who are also entitled to the accrued revenue of Kaduna State. There are 84,827 civil servants in the state. So, it is unreasonable for the government to spend over 90 per cent of its revenue on just about one per cent of the population,” he added.
Musa urged the NLC to exercise patience over the consequential adjustments, pending when the state government’s revenue improved.
“Governor Uba Sani is labour-friendly. He has demonstrated this by providing buses for civil servants to commute to work free of charge, as part of the palliatives to cushion the prevailing economic challenges,” he said.
Meanwhile, the Chairman of the NLC in Ebonyi State, Dr Oguguo Egwu, disclosed that the state workers had been directed to join the ongoing industrial action from today.
According to him, the warning strike, which will last one week, was sequel to the failure of Governor Francis Nwifuru to implement the new national minimum wage.
He said, “Talking about the new national minimum wage as it concerns Ebonyi State, our governor on September 11 at the Ojiji festival of Izzi Kingdom announced the new minimum wage of N70,000 and we are all aware of that.
“We were very happy and excited that Ebonyi would be among the first states to implement the wage. But subsequently, there was no communication and no information.
“And we heard that the governor wanted to implement the national minimum wage without any due process of collective bargaining where both the workers and government angle would meet to agree on the consequential adjustment.”
Also, the Zamfara State NLC secretary, Ahmed Abubakar, said workers in the state had yet to receive the new minimum wage, and as such had no alternative but to join the strike.
He said, “We are going to join the strike as directed by the national body of our great union to express our anger over the non-payment of the new minimum wage.”
Abubakar, however, explained that the union would continue to dialogue with the state government on the issue.
The organised labour in Cross River is set for an industrial action over the non-implementation of the new minimum wage in the state.
The Cross River State Chairman of the Nigeria Labour Congress (NLC), Gregory Ulayi, disclosed that the union would embark on an indefinite strike if the state government failed to implement the new minimum wage to workers.
However, it was learnt that the state government reached an agreement with the state chapters of the NLC and TUC late on Sunday night to pay the N70,000 wage to its workers.
Calls to the NLC and TUC officials to clarify whether the state workers would still embark on strike were not answered as at the time of filing this report.
The Federal Competition and Consumer Protection Commission (FCCPC) says it will probe consumer complaints of exploitative practices in banking, telecommunications, and aviation sectors.
In a statement on Sunday, Ondaje Ijagwu, FCCPC’s director of corporate affairs, announced that the probe is scheduled to commence from December 3 to December 5.
He said the inquiry would address issues related to poor service delivery, exploitative practices, and possible violations of consumer rights.
“In the banking sector, the FCCPC will engage Guaranty Trust Bank (GTB) over reports of network failures that hinder customers from accessing their funds or using banking applications,” Ijagwu said.
“In the telecommunications sector, MTN Nigeria faces questions regarding persistent complaints of undelivered data services, unexplained data depletion, and inadequate customer care.
“Similarly, Air Peace Limited will address allegations of exploitative ticket pricing, including significant price hikes for advance bookings on certain domestic routes.
“These inquiries are being conducted under the Federal Competition and Consumer Protection Act (FCCPA) 2018, specifically Sections 17, 18, 32, 33, 80, 110, 111, 112, and 113, which empower the FCCPC to investigate and resolve practices that undermine consumer rights, disrupt markets, or create unfair competition.”
The director said the FCCPC’s engagement with the companies provides a platform to address consumer concerns, clarify business practices, and enforce compliance with regulatory standards.
He said the companies will be required to appear before the commission on specified dates to provide information and responses, allowing the commission to make decisions and address outstanding issues efficiently.
According to Ijagwu, the action reflects the FCCPC’s commitment to safeguarding consumer rights, fostering a fair marketplace, and ensuring accountability across all sectors.
He urged consumers to continue to report instances of poor service delivery or exploitative practices to the FCCPC through its official channels.
Former Vice President and candidate of the People’s Democratic Party (PDP) in 2023 Presidential election, Atiku Abubakar has expressed deep concern over the ongoing discussions surrounding the Tax Reform Bills.
Speaking in a statement issued on Sunday, Atiku urged lawmakers to ensure the process is transparent, inclusive, and reflective of the interests of the Nigerian people.
The former leader emphasized that the fiscal system being proposed must uphold justice, fairness, and equity.
The former presidential candidate cautioned against reforms that could exacerbate disparities among Nigeria’s federating units.
Atiku also noted that Nigerians are unified in their demand for a tax framework that supports balanced development rather than favoring a select few states while disadvantaging others.
Highlighting the importance of transparency, he called for the ongoing public hearing process organized by the National Assembly to be open and objective.
He stressed the need for an inclusive approach that involves diverse stakeholders such as Civil Society Organizations, traditional institutions, public officials, politicians, and experts.
Atiku believes such inclusivity is vital to fostering accountability, good governance, and public trust in the policy-making process.
The former vice president also called on the National Assembly to revisit and publicly disclose the resolutions of the National Economic Council (NEC), which he described as a key advisory body with constitutional authority on economic matters.
According to Atiku, the NEC’s input is crucial to ensuring that lawmakers are guided appropriately in their deliberations.
Atiku urged the National Assembly to ensure that the final provisions of the Tax Reform Bills align with the aspirations of the majority of Nigerians, reflecting their interests and addressing their concerns.
President-elect Donald Trump has threatened to impose a 100 percent tariff on the BRICS group nations if they undercut the US dollar.
“We require a commitment… that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty US Dollar or, they will face 100 percent Tariffs,” Trump wrote on his Truth Social website, referring to the grouping that includes Brazil, Russia, India, China, South Africa and others.
The statement comes after a BRICS summit held last month in Kazan, Russia, where the countries discussed boosting non-dollar transactions and strengthening local currencies.
The BRICS group has expanded significantly since its inception in 2009, and now includes countries such as Iran, Egypt and the United Arab Emirates. Altogether the BRICS coalition accounts for a significant minority of the world’s economic output.
At the Kazan summit in October, Moscow secured a joint declaration encouraging the “strengthening of correspondent banking networks within BRICS and enabling settlements in local currencies in line with BRICS Cross-Border Payments Initiative.”
But at the end of the summit Putin indicated that little progress had been made on launching a possible competitor to the Belgium-based SWIFT financial messaging system.
“As for SWIFT and any alternatives, we have not created and are not creating any alternatives,” Putin told reporters at the end of the summit.
He added: “As for a unified BRICS currency, we are not considering that question at the moment.”
Trump has vowed to pursue a protectionist agenda, threatening hefty tariffs on neighbors and rivals.
If BRICS countries continue with their plans, Trump warned, they “should expect to say goodbye to selling into the wonderful US Economy,” he wrote.
“They can go find another ‘sucker!’ There is no chance that the BRICS will replace the US Dollar in International Trade, and any Country that tries should wave goodbye to America.”
[AFP]
[PRESS RELEASE] President Tinubu Approves Funds for UNESCO Media and Information Literacy Institute in Nigeria
Admin![[PRESS RELEASE] President Tinubu Approves Funds for UNESCO Media and Information Literacy Institute in Nigeria](/media/k2/items/cache/751d7442be9c78be777cb89d24217b62_S.jpg)
President Bola Ahmed Tinubu has approved the release of funds required for the immediate operationalization of the UNESCO Media and Information Literacy (MIL) Institute, whose hosting rights were awarded to Nigeria by the United Nations Educational, Scientific and Cultural Organisation (UNESCO), the Minister of Information and National Orientation, Mohammed Idris, has announced.
Idris stated this in Paris on Thursday during a meeting with the UNESCO Assistant Director-General for Communication and Information, Dr. Tawfik Jelassi, on the sidelines of President Tinubu’s State Visit to France.
“President Bola Ahmed Tinubu has been very supportive of the take-off process, and has approved the release of all funds required for the immediate operationalisation of the Institute, which will be located in the Federal Capital Territory,” Idris said.
Recalling his previous meeting with Dr. Jelassi, in 2023, the Minister conveyed Nigeria’s gratitude to UNESCO for the honour of hosting a Category 2 MIL Institute, the only one of its kind in the world.
In response, Dr. Jelassi expressed enthusiasm for the take-off of the Institute in Nigeria, emphasizing its relevance in addressing the global challenges of misinformation, disinformation, and hate speech. He also highlighted the importance of fostering a safer and more reliable internet, which aligns with UNESCO’s key priorities.
He explained that the goal of UNESCO’s new Guidelines for the Governance of Digital Platforms is to promote critical thinking and platform transparency, whilst also safeguarding freedom of expression.
Additionally, the Assistant Director-General informed the Minister about the UNESCO MIL Cities initiative, which seeks to integrate and embed the concept of Media and Information Literacy into the design and daily operations of cities around the world, including transport systems, community activities, culture, billboards, and so on.
Minister Idris welcomed the initiative and pledged to ensure that Nigeria takes prompt advantage of it, and presents a city that will be among the world's inaugural set of MIL Cities.
Discussions also touched on UNESCO’s new Guidelines for the Governance of Digital Platforms, published in 2023 following a multi-stakeholder consultation that assembled over 10,000 submissions from 134 countries. Dr. Jelassi presented copies of the document to Minister Idris, who assured that Nigeria will work with all relevant stakeholders to domesticate the guidelines and ensure a safer and more responsible internet for all Nigerians.
Minister Idris was accompanied to the meeting held at the UNESCO Headquarters by Nigeria’s Ambassador and Permanent Delegate to UNESCO, Dr. Hajo Sani OON.
Rabiu Ibrahim
Special Assistant (Media) to the Minister of Information and National Orientation.
[STATE HOUSE PRESS RELEASE] President Tinubu Congratulates New NUJ President And Executive Team
Admin![[STATE HOUSE PRESS RELEASE] President Tinubu Congratulates New NUJ President And Executive Team](/media/k2/items/cache/9e2167edda7563f4f25f527f3f8e1008_S.jpg)
President Bola Tinubu extends his heartfelt congratulations to Alhassan Yahaya on his election as the President of the Nigerian Union of Journalists (NUJ) at the 8th Triennial National Delegates Conference in Owerri, on November 27, 2024.
The President also congratulates other newly elected members of the NUJ executive. He praises the Union for organising a rancour-free election at the conference.
President Tinubu says Yahaya's overwhelming victory was a testament to the NUJ members' confidence in his leadership qualities.
He expresses optimism that Yahaya's experience, particularly as the former deputy president of the Union, will be instrumental as he leads the Fourth Estate of the Realm.
The President emphasises the importance of the press taking on its constitutional roles with a renewed patriotic passion, aligned with the vision and efforts of the founding fathers of journalism in Nigeria.
Furthermore, the President encourages Yahaya and the new leadership to address malpractices within the industry.
He reiterates the administration's commitment to ensuring a free and independent media integral to deepening democracy and promoting national development.
President Tinubu expects Yahaya's tenure to reflect a strengthened commitment towards upholding journalism ethics while fostering a collaborative relationship with the government to build a just and equitable society.
He wishes Yahaya and his team a successful and impactful term in office.
Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
November 30, 2024
The leadership of the Nigerian Labour Congress (NLC) has instructed workers in 14 states to begin an indefinite strike on Monday over the non-implementation of the new minimum wage and the continued payment of outdated salaries.
President Bola Tinubu in July signed the new Minimum Wage Act into law to increase the minimum monthly salary in the country from N30,000 to N70,000.
This was after the government, the organised labour and the private sector concluded months-long negotiations on the minimum wage when Tinubu haggled down labour’s N250,000/month demand to N70,000/month.
Since the enactment of the new law barely six months ago, only 23 states, excluding Federal Capital Territory(Abuja), have domesticated the law.
In a press statement issued on Friday, NLC said: “Recall that the NEC of 8th November 2024 in Portharcourt directed that industrial action to compel implementation of the new national minimum wage should commence in any state that has not complied by the end of November 2024. This position was reinforced by the CWC in Kano on the 27th of November 2024.
“Flowing from the above it is our information that some states have not commenced the said implementation as workers are still being paid on the old structure and there is no subsisting agreement to show a date of commencement of implementations They are as follows: Abia, Akwa Ibom, Ebonyi, Ekiti, Enugu, Federal Capital Territory, Imo, Nasarawa, Kaduna, Katsina, Oyo, Sokoto, Yobe and Zamfara states.
“We therefore request that you direct your state councils in the following states to proceed on the said needed actions to compel the implementation as resolved by the NEC & CWC.
“Please do oblige us with copies of your letters to your state councils in this regard for effective mobilisation.”
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has appealed to Nigerians to shelve any plan of leaving the country because of economic hardship.
Yemi Cardoso said the current economic hardship in the country required the collective effort of all Nigerians to fix it.
He stated that the government through its policies is building an economy that would sustain and help businesses thrive.
The CBN Governor made the appeal in a keynote address at the 59th annual Bankers Dinner of the Chartered Institute of Bankers of Nigeria, CIBN, in Lagos.
“It is not a good idea to japa at this stage. Two reasons. One, those who may decide they are going to do that, they will sell and get rid of their assets.
“You’ll be doing it for cheap. Predators, who are outside looking for bargains, will come and take it and pocket it, put it in their pocket and wait for the turnaround and sell it away.
“Number two, you want to be part of the solution. You want to be part of the solution, and this is time that we need all hands on them,” Daily Post quoted him.
While acknowledging the hardship Nigerians face because of the government’s economic reforms, he said “the reforms were focused on tackling challenges of today and on securing the opportunities of tomorrow with the aim of building an economy where everybody thrives”.
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Aba Power Electric Ltd, Nigeria’s newest electricity distribution company, is working towards obtaining more natural gas supplies from its partners to increase electricity to nine of the 17 local government areas (LGAs) in Abia State it services as the Transmission Company of Nigeria (TCN) starts the regular services of the Alaoji-Aba 132kv line.
A statement this morning by Ugo Opiegbe, the managing director of Aba Power, explained that “a team of dedicated and competent TCN engineers and technicians is scheduled to service the line from December 1 to 7 to ensure regular and quality bulk power supply to the Aba Ringfenced Area managed by Aba Power, Nigeria’s 12th distribution company (DisCo).
“We have, therefore, been in talks with the NNPCL and Heirs Energies to increase gas supply to the 188-megawatt Geometric Power Plant in the Osisoma Industrial Layout in Aba to enable us to provide electricity to the people, businesses, and communities in the nine LGAs we cover, and they have pledged to do their best to give us increased gas”.
The NNPCL and Heirs Energies own Oil Mining Lease (OML) 17 in the Owaza community in Ukwa West LGA in Abia State as a joint venture, with Heirs Energies as the operator.
Geometric Power gets its gas from the 27-kilometre gas pipeline it built to the OML, according to Engineer Cliff Eneh, an electric power consultant in Lagos who used to work for both the Texas Power and Light company in the United States and the defunct National Electric Power of Nigeria (NEPA).
“Due to the insufficient gas supplies to the Geometric Power Plant”, Eneh told journalists today, “the electricity firm has been augmenting its own power generation with supplies from the Niger Delta Power Holding Company (NDPHC) which uses TCN’s 133kv and 330kv lines to make them available to the Geometric Power Plant.
“This is why Aba residents and businesses might be affected by the scheduled one-week maintenance work on the Line, though Geometric Power has taken proactive steps to either minimize the impact on the customers or reduce it to the barest minimum”.
While commending the cooperation between Geometric Power and the TCN as well as the NDPHC, Engr Eneh noted that the planned TCN shutdown would not have any impact on the Aba Ringfence if there were sufficient gas supplies to the 188MW plant.
People in the Aba Ringfence, recalled the engineer, did not experience outages when there was a series of nationwide outages in October and November 2024 because there was a significant gas supply improvement to the area during this period by the NNPCL and Heirs Energies.
“Not only would the plant have started to provide full and uninterrupted electricity to all the nine LGAs under its coverage since commissioning last February 26,” said the power expert, “it would have been exporting power to the national grid to increase power availability in other parts of Nigeria since it already has installed three turbines of 47MW each, with the fourth to be installed anytime the gas issue is resolved.
“The whole nation is waiting anxiously to see the NNPCL and Heirs Energies deliver on their promise to increase natural gas supply to the Geometric Power Plant which will, in turn, provide electricity to Aba Power Electricity Ltd.
![[PRESS RELEASE] Ajayi Crowther Uni. Alumni Donate Sienna Bus to Alma Mater](/media/k2/items/cache/e6eb1d84b94447a5c840821cdb5e7244_XS.jpg)
The alumni association of Ajayi Crowther University, Oyo State, has donated a Sienna bus worth millions to its alma mater to ease the movement and activities of Principal officers in the institution.
The Association made the donation on Wednesday, during the 16th convocation ceremonies and Alumni Lecture that was held at the Folorunsho Alakija Law Faculty of the University.
The activities were lined up to celebrate the university’s academic achievements and the strides made in nurturing excellence among its students.
According to the President of the Alumni association, Mr. Busoye Ogunlade, they have been supporting the university with various donations.
The Alumni Executives also awarded some selected staff of the institution for their long-serving, dedication to the University.
Ogunlade recalled that the executives, under his leadership, purchased a set of computers for the Transcripts department, to ease collection of transcripts for old students, within and outside the country.
Mr. Ogunlade, who also chairs the Oyo State Road Maintenance Agency, OYSROMA, promised that the association would continue to make contributions to the development of the university.
He said the Alumni website, to be launched in December 2024, will avail old students, both at home and in the Diaspora, the opportunity to bond, towards achieving a greater goal as a body.
Ogunlade, while handing over the bus to the Vice-chancellor, said that the school authorities alone could not provide all the needs of the institution, urging all old students to endeavour to contribute to the development of their alma mater.
He noted that “to meet the increasing demand for quality education, the University urgently requires the support of its old students, to enhance the infrastructure on its campuses.”
Ogunlade prayed that the University keeps expanding in larger strides as well as every graduate of the School.
Responding, the Vice-Chancellor of Ajayi Crowther University, Professor Timothy Adebayo, expressed gratitude to the Ajayi Crowther University Alumni for its contribution to the university’s development.
The vice-chancellor affirmed that the association has been a worthy partner in progress since he assumed office nearly a few years ago.
He equally recalled that the association has made several donations towards the University.
In the vice-chancellor’s words “We are grateful to the university’s alumni for purchasing this bus. It is timely and we appreciate it.”
While explaining the numerous feats of the University in the last year, the VC said the institution has signed many pacts with various bodies and institutions which has aided academic developments, stability, accreditation, and expansion of frontiers.
The association delegation included other members of the executive, including the National Secretary, Yemisi Peters, among others.
E-signed:
'Busoye Ogunlade, 'Yemisi Peters
National President, Nat'l Secretary,
ACU Alumni. ACU Alumni,
November 29, 2024. Nov. 29, 2024.
The Central Bank of Nigeria (CBN) has threatened to impose fines on erring banks over the ongoing cash scarcity at automated teller machines.
Olayemi Cardoso, governor of CBN, spoke on Friday at the annual Bankers’ Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN).
On November 13, some Nigerians took to X to complain about the lack of cash in bank ATMs and having to depend on point of sale (POS) operators.
Reacting to the development two days later, the CBN directed banks to prioritise cash disbursement through ATMs.
The regulator also warned that banks disbursing naira notes to persons hawking the Nigerian currency will be penalised.
Speaking on Friday, Cardoso said non-compliance will lead to severe penalties.
“We also recognise the ongoing challenges with cash availability at ATMs, which disproportionately affect ordinary Nigerians,” the CBN governor said.
“To address this, we are conducting spot checks across deposit money banks, and we will impose penalties on underperforming institutions.
“Effective December 1, 2024, customers are encouraged to report any difficulties with withdrawing cash from bank branches or ATMs directly to the CBN through designated phone numbers and email addresses for their respective states.
“Guidelines will be distributed widely to raise public awareness. We will also urge full regulatory compliance by all stakeholders, including mobile money operators and POS agents, to promote digital transaction channels and improve service delivery.
“I repeat, financial institutions found engaging in malpractices or sabotage will face severe penalties.
“The CBN will continue to maintain a robust cash offering to meet the country’s needs, particularly during high-demand periods such as the festive season and year-end.”
Speaking on foreign exchange (FX), Cardoso said Nigeria missed out on a potential N6.2 trillion due to its less flexible FX regime.
“These funds could have significantly contributed to critical investments in education, healthcare, and infrastructure development,” Cardoso said.
The CBN governor said the apex bank is focused on rebuilding Nigeria’s economic resilience through targeted reforms, including prioritising domestic refining capacity, promoting non-oil exports, and advancing technological innovations in the financial sector.
The Governor of Borno State, Babagana Zulum, has called for the withdrawal of the tax reform bills.
According to Zulum, the bill transmitted to the National Assembly by President Bola Tinubu in September, will drag the northern part of the country backward.
The bill has faced opposition from Northern governors, traditional rulers, and Northern Elders Forum.
However, despite the rejections, the Senate passed the bills for second reading on Thursday despite rowdiness at plenary.
Speaking in an interview with BBC Hausa service, the governor expressed displeasure over how the bills enjoyed speedy and smooth passage to the current phase when other bills had to spend several years to scale through.
He said, “We condemn these bills transmitted to the National Assembly. They will drag the north backward, and not only the north, South East, South West and some states in the South West such as Oyo, Osun, Ekiti, Ondo, will have problem with these bills.
“It is not opposition. This, based on our understanding, is something that will destroy the north in its entirety. Therefore, we call on President Bola Ahmed Tinubu and others to review this decision. He secured 60% of his votes in the north. He should not listen to those telling him that northerners are not supporting him. If our interest is served, that is all. What we need now is the withdrawal of the tax bills.
“Why all the rush! There’s a petroleum bill that was presented but it took almost 20 years before it was finally passed. But this one was transmitted and now receiving legislative attention within a week. What we are saying is that, let it be treated carefully and with caution so that even after our exit, our children would reap the benefits.
“How we see it is, if these bills scale through, we will not be able to even pay salaries. And if we paid, it won’t be sustainable the following year.”
Asked whether the bills would further exacerbate hunger and poverty in the north, Zulum answered in the affirmative, adding, “Including security. But they’re saying otherwise. We are against it, Lagos is against it; that it will drag it backwards. If this is the situation, then why won’t they rescind it? Our National Assembly members and even some from the Southern region are not in support of these bills.”
The governor, however, clarified that his objection of the bills was not a pointer of any opposition against the government, maintaining that it was only a call to reverse the decision.
He said, “This is our stand and doesn’t mean that we are against the government. We supported and voted for him (President Tinubu). But these bills will not mean good for us.”
Asked to comment on whether the lawmakers would pass the bills when lobbied and given kickbacks, Zulum said, “There are rumours around but we are not certain. But you know we are in Nigeria! What I am saying is that let us all be patriotic. We have children, grandchildren and relatives who are in villages, therefore, we should be careful not to endorse anything that would impede the progress of the north and other regions. We are appealing to the President to listen to us and address our concerns.”