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Again, Buhari Bars CBN From Releasing Forex For Food Importation

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President Muhammadu Buhari has, again, directed the Central Bank of Nigeria (CBN) not to release from the country’s reserves for the importation of food items. He said seven states are already producing rice for the citizens’ consumption.

Buhari had while hosting All Progressives Congress governors to Eid-el-Kabir lunch at his country home in Daura, Katsina State in August, directed the apex bank to stop providing foreign exchange for importation of food into the country.

He reiterated the same warning in September when he directed the CBN not to release ‘a kobo’ for the importation of food items and fertilizers.

Buhari gave the directive while speaking during the fifth regular meeting with the Presidential Economic Advisory Council (PEAC), yesterday, at the State House in Abuja.

The PEAC members did their presentation virtually, while President Buhari, Vice President Yemi Osinbajo, Finance Minister, Zainab Ahmed, and Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouk, were physically present at the council chambers.

According to a statement by Senior Special Assistant to the President on Media and Publicity, Garba Shehu, Buhari also gave his words that his administration will keep a keen eye on food inflation in the New Year while giving a strong directive to the CBN, not to give any money for food importation.

Buhari directed that the CBN “must not give money to import food. Already, about seven states are producing all the rice we need. We must eat what we produce.”

While taking note of the strides made in agricultural production following the programme of diversification from over-reliance on oil instituted by his administration, the president wondered where the country would have found itself by now in view of the devastating economic crisis brought about by COVID-19 if the country had not embraced agriculture.

“Going back to the land is the way out. We depend on petrol at the expense of agriculture. Now, the oil industry is in turmoil. We are being squeezed to produce at 1.5 million barrels a day as against a capacity to produce 2.3 million. At the same time, the technical cost of our production per barrel is high, compared to the Middle East production,” he said.

Buhari stressed the place of agriculture in the efforts to restore the economy but agreed that measures must be put in place to curtail inflation in the country.

“We will continue to encourage our people to go back to the land. Our elite is indoctrinated in the idea that we are rich in oil, leaving the land for the city for oil riches. We are back to the land now. We must not lose the opportunity to make life easier for our people. Imagine what would have happened if we didn’t encourage agriculture and closed the borders. We would have been in trouble,” he said.

The meeting, which was for a review of, and reflections on the global and domestic economy in the outgoing year, agreed on a number of measures.

In specific terms, it noted the sharp deterioration in the international economic environment and its impact on Nigeria’s continuing but fragile economic recovery; that Nigeria’s economic growth continues to be constrained by obvious challenges, including infrastructural deficiencies and limited resources for government financing. It emphasized the need to make the private sector of the economy the primary source of investment, rather than the government.

The meeting reviewed progress towards structural reforms in response to the economic crisis, including the institution of the Economic Sustainability Plan, the changes in electricity tariff and fuel pricing regime, the partial re-opening of the land borders, the movement towards the unification of exchange rates and budgetary reforms through Finance Bill 2020 and 2021.

It agreed that to prepare the country for the challenges ahead, it is imperative to ensure macro-economic stability, create certainty, and re-build investor’s confidence in the economy.

The meeting emphasized the need to deepen structural reforms initiated by the administration as a basis for stimulating investments from domestic and international sources with a view to raising productivity in key sectors of the economy.

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Lawyer Begs Court For More Time To Produce Yahaya Bello, Says “We Don’t Know Where He Is”

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Abdulwahab Mohammed, lead counsel to Yahaya Bello, former Kogi governor, has asked a federal high court in Abuja to give him four weeks to search for his client.

Mohammed went on to say that it is still unclear where the former governor is.

Speaking before the court shortly after a decision that mandated Bello’s arrest, Mohammed expressed his serious fears about Bello’s safety.

“My lord, this has to do with his right to life. If someone has a genuine concern about his life, it ought to be considered,” the counsel submitted.

“At this stage, we don’t know where the defendant is. Therefore, subject to the convenience of this court, we will be asking for a reasonable time.

“My client does not have any problem answering to this charge. We ask for a reasonable time to enable us to access him.

“My lord, we will ask for four weeks.”

Mohammed also prayed the court to stay further proceedings in the criminal charge.

However, Emeka Nwite, presiding judge, refused to stay the proceedings.

“I am shocked to my bone marrow that despite the ruling, the senior lawyer made this application,” Nwite said.

“Notwithstanding this flagrant abuse of court process, in view of section 306 of the Administration of Criminal Justice Act (ACJA) 2015, this court shall not stay proceedings in this charge.”

Addressing the senior lawyer, the judge said: “You, as a counsel ought to advise him correctly. Is he the only former governor that has been invited or charged by the EFCC?”

“How many people have been killed by the EFCC? This is a matter that has attracted the attention of the whole world,” the judge stated.

“If he reports himself and anything untoward happens to him, the EFCC will be held accountable.

“The law is very clear that an accused is presumed innocent. This is merely a charge, an allegation that has not been proved.

“It is for you to advise him properly. Bring him here and prepare yourself. This is only an allegation that has not been proved.”

In his submission, Rotimi Oyedepo, counsel to the EFCC, said his client, as a law abiding organisation, would not take any illegal action against the defendant.

He noted that the agency earlier undertook not to execute the arrest warrant should the defendant voluntarily submit himself for trial.

Turning to the defence lawyer, Oyedepo said: “The EFCC will not kill your client. We have never killed anyone before.”

“But my lord, Adoke collapsed in their custody,” Bello’s lawyer retorted light-heartedly.

Nwite subsequently adjourned the matter till June 13 for arraignment.

The EFCC is seeking to arraign Bello on 19 counts bordering on alleged money laundering, breach of trust and misappropriation of funds to the tune of N80.2 billion.

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JUST IN: Court Insists On Yahaya Bello’s Appearance Over Alleged N80.2b Fraud

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A Federal High Court in Abuja has insisted that its order made on April 17, for the arrest and production of ex-governor of Kogi state, Yahaya Bello still subsists.

Justice Emeka Nwite, in a ruling on Friday, May 10, held that Bello’s continued refusal to attend court and his frustration with the efforts of the Economic and Financial Crimes Commission (EFCC) to execute the arrest warrant were disrespectful of the court.

Justice Nwite held that the court would not entertain the applications filed by Bello unless he appeared in court and pleaded to a 19-count money laundering charge brought against him by the EFCC.

The judge also rejected the request by Bello’s lawyer, Abdulwahab Muhammed (SAN) that further proceedings in the case be stayed pending the determination of the appeal by the EFCC in relation to a contempt case before a High Court of Kogi state, sitting in Lokoja.

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Prince Harry, Wife Meghan Arrive In Nigeria To Promote The Invictus Games [PHOTOS]

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To support the Invictus Games, an initiative he launched to facilitate the rehabilitation of sick and injured service men and veterans, including Nigerian soldiers engaged in a 14-year fight against Islamic extremists, Prince Harry and his wife, Meghan, arrived in Nigeria on Friday morning.

The couple, who were invited by the Nigerian Armed Forces to visit West Africa for the first time, reportedly landed in Abuja early on Friday morning, according to Brigadier General Tukur Gusau, spokesman for the Ministry of Defence. In an effort to improve wellbeing and morale, they will meet with injured soldiers and their families while they are there.

This participation has been praised by Nigerian officials as a major chance for the soldiers’ recovery.

Prince Harry, who served in Afghanistan as an Apache helicopter copilot gunner, founded the Invictus Games in 2014 to provide wounded veterans and Service members with the challenge of competing in sports events similar to the Paralympics. Nigeria participated in last year’s edition of the games.

During their stay, the couple will attend basketball and volleyball matches and meet with local non-governmental organizations in Abuja and Lagos that receive their support.

Meghan will also co-host an event on women in leadership with Director General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, according to the couple’s spokesman Charlie Gipson.

The news of Meghan’s visit has generated excitement among Nigerians who closely follow her life and association with the British royal family.

The Nigerian military has emphasised the significance of the Invictus Games in aiding the recovery of thousands of personnel who have been fighting Boko Haram Islamic extremists and their factions since 2009.

According to the military’s sports director, Abidemi Marquis, “Eighty percent of our soldiers that have been involved in this recovery programme are getting better (and) their outlook on life is positive.

“The recovery programme has given them an opportunity to improve their personal self-esteem, to improve their mental health and emotional intelligence.”

 

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