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30 Million Nigerians May Be On Drugs By 2050, Says NDLEA Chairman Buba Marwa

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About 30 million Nigerians would be on drugs by 2050 if nothing was done to check the trend, the Chairman/Chief Executive of the National Drug Law Enforcement Agency, Brig. General Mohammed Buba Marwa (retd), has said.

He also stated that 90 percent of criminalities being perpetrated in Nigeria including banditry, insurgency, kidnapping, and rape, were due to drug abuse.

According to him, with him in charge, the war against the menace of illicit drug trafficking, peddling, and abuse “is a fight to finish.”

Marwa, according to a statement from the agency, spoke on Monday at three different fora in Port Harcourt where he met with various stakeholders.

He spoke at stakeholders meeting comprising men and officers of the Rivers State Command of NDLEA at the Command’s headquarters, along with Christian and Islamic leaders as well as the leadership of the National Union of Road Transport Workers in Rivers State.

Marwa said, “Our society is a religious one, and as such our religious leaders must use their privileged position to make the campaign against drug abuse part of their sermons in the churches and mosques.

“I want you to come out with a loud voice against the menace because if we don’t all rise up against the menace now, by 2050, not less than 30 million Nigerians will be on drugs and that is too dangerous for the future of this great country.”

He urged the NURTW leaders to mobilize their members against using drugs and transporting the same for traffickers.

“NURTW must cut out the use of drugs and its transportation by its members across the country. For us in NDLEA, we are going all out for the small and the big; both the users, traffickers, and barons.

“The arrest in Lagos last week of a baron who has been on the run for 10 years confirms that we’ll not spare anyone, no matter how long they have been in the trade, they can no longer hide from the long arms of the law.”

The NDLEA CEO also spoke with officers of the Port Harcourt International Airport Command of the NDLEA along with other security agencies and stakeholders.

He reminded them that investigations have revealed that the airports and seaports had served as the gateway for importation and exportation of illicit drugs.

He, therefore, charged them to work in synergy to ensure that no hard drug enters or goes out of the country through their area of responsibility.

Marwa said, “You need to secure our country from the menace of drug abuse by working together. For us in the new NDLEA, this is a fight to finish, we can’t allow this country to be destroyed by criminalities. All those involved in this criminal act must be fished out and punished.”

At the Onne seaport, Marwa told a gathering of the stakeholders operating at the port including men and officers of the agency that “90 percent of all criminalities in Nigeria today ranging from banditry, insurgency, kidnapping, rape, and others is linked to the use of illicit drugs.

“Nobody in his right sense will take up arms to kidnap, rape, and kill innocent people. Therefore, if we are able to tackle the issue of drug abuse, most of the security challenges the nation is facing now would have been solved. We also need to take this war as a battle to save our children and women, and ultimately our society and the country at large.”

He urged them to be vigilant and ensure “no drug goes out or comes in through Onne seaport because any little drug that escapes into the society can do great damage to our families and our country as a whole.”

All the stakeholders, especially the religious leaders and the NURTW assured Marwa of their support in the renewed fight against the drug menace in Rivers State in particular and the country at large.

They said they were happy to be part of the meeting, adding that given Marwa’s antecedents, they were excited about the record seizures and arrests made since he took over the leadership of the NDLEA about a month ago.

BIG STORY

BREAKING: EFCC Declares Yahaya Bello Wanted [PHOTO]

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Yahaya Bello, the former governor of Kogi state, has been declared wanted by the EFCC.

He reportedly evaded arrest yesterday when the commission visited his home to enforce arrest.

More to come…

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Hydrogen, CCHub Partner To Encourage Fintech Startup Success

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As the country faces economic challenges, the need for adaptive strategies in the fintech industry becomes paramount. In line with this, leading fintech startup Hydrogen Payment Services Limited (‘Hydrogen’) has teamed up with Co-creation Hub (‘CcHub’) to host an insightful event themed ‘Adapting Fintech Business Models to Economic Climates’.

The event is set to take place on Thursday, April 18, 2024, from 12:00 a.m. WAT at the CCHub office in Sabo, Lagos, will delve deep into the intricacies of Nigerian economic challenges and how these influence the fintech ecosystem. Participants will gain actionable insights on how to adapt fintech business models to volatile economic conditions by prioritising flexibility, agility, and customer-centricity.

This collaboration underscores the shared commitment of both entities to empower aspiring founders venturing into the fintech space amidst economic uncertainties. By leveraging their respective expertise and resources, Hydrogen and CcHub aim to equip
emerging entrepreneurs with the knowledge, tools, and support needed to thrive in today’s dynamic economic conditions.

Emeka Awagu, Chief Technology Officer at Hydrogen, commented on the strategic partnership with CcHUB: “Our alliance with CcHUB amplifies our shared commitment to pioneering transformative solutions in the Nigerian fintech sector. By leveraging Hydrogen’s technological expertise alongside CcHU’s innovative approach, we are primed to set a new standard for fintech excellence and drive impactful change across the industry.”

The event will feature a distinguished panel of industry experts and thought leaders. including Ina Alogwu, Group Director, Digital Transformation, ARM HoldCo; Emeka Awagu, Chief Technology Officer, Hydrogen; and Miracle Ezechi, Digital Marketing Manager, Hydrogen.

The panel discussion will be moderated to encourage an engaging and insightful conversation on the strategies and innovations required to thrive in the Nigerian fintech landscape amidst economic challenges.

Interested attendees are encouraged to register here and reserve a spot.

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ECONOMY: CBN Not Using Foreign Reserves To Defend Naira — Olayemi Cardoso

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The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, asserts that the nation is not defending the value of the naira with its foreign reserves.

He made this known on Wednesday in Washington, DC, where he is attending the International Monetary Fund-World Bank Spring Meetings.

Cardoso said $600 million came into Nigeria’s reserves account within the last two days.

The naira has appreciated against the dollar in recent weeks, gaining over 40%, from about N1,900/$ to about N1,000/$1 now. But while the naira rebound, Nigeria’s foreign reserves are dwindling, dropping to about $32.29 billion on April 15 — the lowest level in over six years.

Cardoso said, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where for example, debt is due and certain payments need to be made because that is also part of keeping your credibility.

“Other times money comes in, it takes it up again. Between yesterday and today, about $600 million came into the reserves account. We are looking towards a market that operates by itself, willing buyers, willing sellers and price discovery.

“The shift in our reserves has really little or nothing to do with defending naira and that is certainly not our objective.”

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