We must diversify the economy - CBN

The CBN Deputy Governor, Corporate Services Directorate, Mr. Adebayo Adelabu, has called for the diversification of the Nigerian economy.

Speaking on the topic, “Diversifying the Revenue Base of Nigerian Economy" at the investiture ceremony of the Chartered Institute of Bankers of Nigeria, CIBN, Adelabu said that the time has come for Nigeria to diversify her economy, having failed to do so when oil was above $100 a barrel.

His words ;

“The dwindling oil prices and reduction in volume of crude oil production are affecting us, with revenue nose diving, because we relied so much on crude oil. We lost the opportunity to diversify between 2009 and 2014 because we had relative stability in exchange rate, and oil prices went up as high as $110.

“We should have diversified in the period of boom. Now we don’t need anybody to teach us that we have to look at other areas of revenue. This is a challenge to everybody especially to the banking industry.

“Banks need to look at other sectors in terms of lending. Fortunately we are blessed with almost every resource on the earth. Agriculture is a sector we must focus on. We have lots and lots of solid mineral resources; and we should focus on developing them.

" Most importantly, we have to patronise local products. Every Nigerian should deemphasize consumption of imported goods, because by doing so, we are helping other countries. We should all patronise locally made goods.”

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We Won't Devalue Naira, CBN Tells Sanusi

The Central Bank of Nigeria, CBN on Saturday rejected the call by the Emir of Kano, Mallam Mohammed Sanusi II for further devaluation of the naira.

The Kano Emir had on Friday called on the Federal Government and the CBN to further devalue the naira and remove fuel subsidy.

“It is wrong to continue with the fuel subsidy. It is wrong to continue to pretend that you can keep the naira at a certain level, when the price of oil is falling, without depleting your reserves. You have to make a choice,” he said.

However, speaking at the Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos on Saturday, the Deputy Governor, Corporate Services Directorate of the CBN, Mr. Adebayo Adelabu dismissed Sanusi's call.

He said that the official position of the CBN on the matter is that
"... there will not be any further devaluation of the naira.

“We have made the official position known to the public. There could be comments from various quarters of the economy but we have made our official position known”, he said.

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Buhari Troubled By Situation In Northeast

President Muhammadu Buhari has described the security situation in the Northeast of the country as a great source of concern for him.

The president spoke through a message delivered on his behalf by a high powered delegation he sent to Adamawa and Borno states to commiserate with the people on the incessant suicide bombings by Boko Haram.

The delegation was led by Secretary to the Government of the Federation, David Babachir Lawal. He was accompanied by
the Secretary of the APC, Alhaji Mala Mai Buni, a member of the House of Representatives, Hon. Mohammed Tahir Munguno, the Senior Special Assistant to the President on Media and Publicity, Garba Shehu,  Permanent Secretary, office of the SFG Bukar Maina and a leading member of the APC Alhaji Modi Mahmood.

In his message, President Buhari said ;

“The security situation in the North-East remains a great source of concern for me. Although there are clear indications that the military is recording great successes in the theatre of operations, the enemy has been able to carry out his murderous campaign by attacking soft targets using Improvised Explosive Devices.

"His intention is to create widespread fear amongst the civilian population since he cannot subdue our armed forces. The sporadic tactics used by these criminals is a sign that they are under intense pressure in the forests and in the countryside where they previously enjoyed a lot of freedom of action.

“The sheer tenacity displayed by our troops in the last three months has resulted in degrading the capacity of the enemy significantly. I am confident that the ability of the enemy to attack and seize towns and villages has been virtually neutralized.

“Having said that, our people cannot continue to be the victims of a senseless war, living in perpetual fear and deny the right to pursue their legitimate undertakings in peace. As a leader, I want to assure our citizens in
every part of Nigeria that the government is doing everything humanly possible to bring to a swift end, the suffering and losses occasioned by this insurgency. I deeply sympathize with the families who have lost loved ones.

“As I said a few times in the past, desperate actions such as the detonation of IEDs will take a longer time to eradicate even as our optimism continues to grow that Boko Haram as a fighting force will be crushed by the year’s end. After that, we hope all displaced communities will be returned to their towns and villages. But even when this is about to happen, there will still remain vital tests and challenges. We must work hard to eradicate all forms of extremism. Citizens must join hands with security forces in the effort to detect unrepentant terrorists embedded in our neighbourhoods. We must all be watchful over any suspicious activity and report same to law enforcement agents for their prompt action."

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See what ex-President Jonathan told world leaders about GEJ Foundation

Former President Goodluck Jonathan is a very busy man right now.

He has been busy dispatching invitation letters to leaders across Nigeria and the entire world for the official launch of his Goodluck Jonathan Foundation which is planned for the third quarter of 2016.

See a sample of the letter below.

Dear ……..

On Friday, 29th May, 2015; I completed my term of office as the President of the Federal Republic of Nigeria and successfully handed over government to President Muhammadu Buhari.

I immediately proceeded on a long deserved break; I have enjoyed a delightful time with my family and close friends.

Now, well rested, I am back to work; to continue to serve and dedicate my life to promoting peace and prosperity for all. I have set up an office where I can be reached and members of my staff are poised to serve you and respond to your enquiries at all times.

Furthermore, I will be devoting the rest of my life and energy to making the world a better place. I am currently finalising efforts to set up The Goodluck Jonathan Foundation. More details on the work of the foundation will be available at the launch, which I believe should take place by the 3rd  quarter of 2016.

As I start this new phase of my life of renewed service to humanity, I look forward to your continuous support, counsel and cooperation.

Please do accept the assurance of my esteemed regards.

Goodluck Ebele Jonathan.

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Sokoto State Set To Immunize 1.8m Against Measles

The government of Sokoto State, Nigeria has concluded plans to Immunize about 1.8m children against measles in all 23 local government areas of the state. The exercise will last from November 21 to November 25.

The State's Executive Secretary, Primary Healthcare Development Agency, Dr Sani Labaran disclosed the plan to newsmen in Sokoto on Saturday during a rally to mark the World Polio Day.

He said that the 4 day exercise would be targeted at children aged between 2 months and 4 years.

He also emphasized the state government's commitment to routine immunization and the prioritization of health services.

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Female Suicide Bomber Kills 3 In Maiduguri

Barely a day after terrorist attacks killed 28 people in Maiduguri, northeast Nigeria, a female suicide bomber on Saturday detonated her bomb in the Dala Yazaram area of the city, leaving three persons dead and many others injured.

An eyewitness, Shuaibu Umaru told AFP that there were two suicide bombers but one was apprehended before she could activate her device.

According to the National Emergency Management Agency, NEMA, a member of the Civilian JTF was killed in the blasts along with four suicide bombers.

“Four female suicide bombers at about 7:45am today in the morning attempted to enter the Dala Ajeri area of Maiduguri but were intercepted by the civilian JTF (joint military task force).

“Three of the female suicide bombers detonated the explosions in their bodies immediately and the fourth one was intercepted but later died,” it said.

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How PDP, APC reacted to the Election Petition Tribunal's annulment of Gov Wike's election.

The Rivers State Elections Petition Tribunal sitting in Abuja on Saturday afternoon annulled the election of Nyesom Wike as governor of Rivers State.

Citing card reader accreditation as the basis for its decision, the tribunal headed by Justice Suleiman Ambrosa ordered fresh elections within 90 days.

See how Nyesom Wike's PDP and Dakuku Peterside's APC reacted to the tribunal's judgment.

A TRAVESTY OF JUSTICE AND RAPE ON DEMOCRACY :

This is how the Rivers State PDP Chairman, Bro Felix Obuah described the judgement which he alleged is a gang up, conspiracy and falsehood by the APC and the Federal Government against the people of Rivers State.

According to Obuah, "There is no other reason why the tribunal hurriedly delivered the contraption it called judgment in less than 24 hours after adopting the written addresses on a matter that lasted over four months than to pre-empt the judgment of the Supreme Court against the tribunal by the PDP which comes up next week

“The good thing is that by the hurried judgment, the tribunal chairman has exposed his partiality and shot himself in the leg by defying all legal procedures and going ahead to deliver judgment on the APC petition when there is an impending matter hinging on the appeal at the Supreme Court just as he refused to vacate his seat as chairman of the election petitions tribunal for the State Governorship Election Petitions despite PDP’s resentment on questions of integrity and impartiality. Notwithstanding all this, in the end we shall have the last laugh.

“Men have today Saturday, October 24, 2015 after being compromised served their immoral judgment, God would soon give justice in the governorship election in Rivers State."

A DEADLY BLOW TO IMPUNITY AND HOOLIGANISM - APC

To the petitioners, APC,  Justice Suleiman Ambrosa's ruling is a deadly blow to impunity and hooliganism.

See the statement issued by APC spokesman, Alhaji Lai Mohammed on the judgement.

”What has come across from this judgement is that there is no shortcut to free, fair and credible elections. This is part of the wind of change that is blowing across the land and touching all arms of government under the Administration of President Muhammadu Buhari.

”Elections are about the expression of the will of the people, and they must always be free to express themselves, irrespective of what some desperate politicians may feel."

He also described the judgement as an indication that  the era of impunity and hooliganism is over, and that the only way for elections to have legitimacy is for them to be free, fair and credible.

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