Connect with us


BIG STORY

CBN Writes Reps Over Emefiele’s Absence, Cites “Official Engagement, Health Challenge”

Published

on

The Central Bank of Nigeria (CBN) says Godwin Emefiele, governor of the CBN, will not appear before the house of representatives on Thursday.

Instead, Aisha Ahmad, CBN deputy governor, financial systems stability, will lead a team of high-ranking officials of the apex bank to brief the house of representatives during plenary on Thursday.

In a letter addressed to the house of representatives and read by Femi Gbajabiamila, speaker of the house, during Wednesday’s plenary, the CBN said Emefiele is not yet back in the country because he is attending to an official engagement and health challenges abroad.

“Regrettably, the governor is out of the country for official engagement as well as attending to some health challenges,” the letter reads.

“He is, therefore, unavailable to attend the briefing. Given the urgency associated with the briefing, a committee of governors led by Mrs Aisha Ahmad, deputy governor, financial systems stability, is prepared to brief the house.”

After Gbajabiamila read the letter, the lawmakers responded “no” to the request for the CBN governor to be represented.

But Gbajabiamila appealed to his colleagues to put aside “sentiment” since the issue at stake is “critical”.

“At this stage, while I understand the sentiment, we have to rise above certain things and not make it personal anymore, in the sense that there is a very critical issue which is the issue of this cash policy,” he said.

He said if the CBN governor is out of the country and attending to his health, it shouldn’t be insisted that he appear in person before the lawmakers.

Gbajabiamila said it will not serve the interest of the house and country to wait till Emefiele returns, which could be in January because “a lot would have happened by then”.

“But if he has asked somebody who is fully equipped with all the facts who can be questioned by the house, who is a deputy governor, financial systems stability, which is what this is about, I think we should hear from her,” he said.

Also speaking, Idris Wase, deputy speaker, said the CBN is an institution and Emefiele should be represented in the circumstance that he is unavoidably unavailable.

The Summons

Emefiele was summoned by the green chamber on December 8, over the CBN’s new cash withdrawal policy.

The lower legislative chamber also asked the apex bank to suspend the policy scheduled to take effect on January 9, 2023.

In a memo issued and signed by Haruna Mustafa, director of banking supervision, the apex bank had directed all banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100,000 and N500, 000, respectively, per week.

The CBN also directed that only N200 and lower denominations should be loaded into banks’ ATMs.

But Emefiele, who was supposed to appear before the lawmakers on December 15, wrote through Edward Adamu, CBN deputy governor, corporate services, that he was out of the country.

At plenary on Tuesday, the house rescheduled his appearance to Thursday, but the CBN wrote again on Wednesday, saying Emefiele won’t be available to brief the lawmakers.

The development comes days after a federal high court in Abuja declined an application by the Department of State Services (DSS) to arrest and detain the CBN governor.

The court had said there was no concrete evidence to substantiate the claim that the CBN governor was involved in terrorism financing and economic crimes.

BIG STORY

UK Grants Duty-free Access To 3,000 Nigerian Products Under New Trade Scheme

Published

on

The United Kingdom has revealed that more than 3,000 Nigerian products, such as cocoa and cashew, are now eligible to enter the UK market either duty-free or at reduced tariffs. The Country Director for the UK Department for Business and Trade, Mark Smithson, announced this development as part of the UK’s Developing Countries Trading Scheme (DCTS) in a recent video released by the UK in Nigeria.

“Up to 3,000 products from Nigeria qualify for low tariff or no tariff access to the UK through the Developing Countries Scheme, one of the most generous trading schemes in the world,” Smithson stated.

He added that the UK has streamlined the process for Nigerian exporters, making it simpler to trade a wide range of goods, including cocoa and textiles.

Smithson urged Nigerian exporters to take advantage of this opportunity.

“The UK is open and looking to do business with Nigeria. So why don’t you go to the website and find out more about the Developing Countries Trading Scheme and begin to trade with us?”

The DCTS, launched in 2023, replaced the UK’s former Generalised Scheme of Preferences. It aims to lower tariffs and simplify trading regulations for over 60 developing countries, Nigeria included.

Continue Reading

BIG STORY

Abosede Tomori Foundation (ATF) Launches In Lagos With Health Outreach, MSME Cash Grants [PHOTOS]

Published

on

The Abosede Tomori Foundation (ATF) made a debut in Lagos on Saturday with its flagship health outreach programme and cash grants for the unemployed, small, and micro businesses.

Speaking during the launching of the foundation in Ejigbo, Oshodi-Isolo constituency II, its Chairman and Special Assistant to the Minister of Solid Minerals Development on Media, Segun Tomori revealed that ATF was conceptualized to immortalize his late mother, Abosede Adebisi Tomori, and honour her legacy of generosity by providing succor to the less privileged and lifting the downtrodden.

“I lost her when I was still finding my feet, when I couldn’t repay her unparalleled kindness and love, when I couldn’t give her the life she deserves. So, I made a solemn vow to do what I could to ensure that her name never fades. To ensure it is etched in our hearts, in the hearts of the downtrodden, not only in this constituency, but across the length and breadth of the country, “Tomori asserted

According to him, “Our mission at ATF is to honour her legacy of generosity by transforming lives and building communities for the emancipation of the less privileged. It is our vision to shape communities, where dignity of lives matter, ensuring support, not struggle, defines the human experience.”

The intervention areas of the foundation is encapsulated in five thematic areas including health outreach to the less privileged; Skill development & scholarship targeting disadvantaged Youth; Schools Intervention Programme (SIP) to assist indigent children access basic education; Food packs support for disadvantaged families and cash grants to boost Micro Small and Medium Scale Enterprises (MSMEs).

The foundation kickstarted its interventions with a health outreach programme that provided free medical care for about 250 residents of Oshodi-Isolo constituency II comprising Ejigbo and Isolo LCDAs while owners of 50 micro and small businesses received cash grants of N50,000 each. Additionally, over 130 bags of 5kg rice were distributed to indigent beneficiaries.

” This is only the beginning – we intend to scale up these interventions and extend it beyond this constituency to other parts of Lagos state and across the length and breadth of the country,” Tomori added

Delivering the keynote address, chairman of the occasion, and Minister of Solid Minerals Development, Dr. Dele Alake, ably represented by his Special Adviser, Hon. Kehinde Bamigbetan applauded Tomori on the laudable initiative, noting his unwavering dedication as a public servant and expressing confidence that the same passion would drive the success of the foundation.

Describing the intervention areas of the foundation as brilliant, compassionate and timely, the minister urged Nigerians to emulate Tomori by finding ways to support people in their communities, stressing that such grassroots interventions complement government efforts as encapsulated in the Renewed Hope Agenda of President Bola Tinubu.

In his goodwill message, Director-General of the Federal Radio Corporation of Nigeria (FRCN), Dr. Muhammed Bulama lauded Tomori for launching the foundation at a young age, describing him as a “rare breed with great potential.”

He emphasised that the initiative aligns with FRCN’s motto of “Uplifting the people and Uniting the Nation”, assuring the foundation of the unalloyed support of the corporation to ensure it impacts more communities across the country.

Dignitaries that graced the occasion include Minister of Solid Minerals Development represented by Special Adviser, Kehinde Bamigbetan; Director-General, Federal Radio Corporation of Nigeria (FRCN), Dr. Muhammed Bulama; Representative of DG of National Orientation Agency (NOA) and Lagos State Director of the agency, Mustafa Adedeji Tukur; representive of the Executive Secretary of Solid Minerals Development Fund (SMDF), Bola Atanda; Deputy Managing Director of Rapidlink Resources, Samson Enema, political and community leaders of Ejigbo and Isolo LCDAs, market association leaders amongst others.

Continue Reading

BIG STORY

As WAFCON Kicks Off Today, The Falcons Of Nigeria Will Win Their 10th Title — By Seun Oloketuyi

Published

on

The energy in Morocco is electric. From the bustling streets of Rabat to the buzzing stadium corridors in Casablanca, a continental celebration of football has begun. The 2024 Women’s Africa Cup of Nations, delayed until 2025, kicks off today — and as the anthem rings out to open the tournament, one team walks into the spotlight with more than just ambition. The Super Falcons of Nigeria are here to reclaim what they’ve long considered theirs: the WAFCON crown.

Nine-time champions, decorated with decades of dominance, Nigeria’s women’s team has been the pride of African football. But this time, there’s something different. It’s not just about titles or rankings. It’s about redemption. Two years ago, the Falcons fell short, narrowly edged out of the final by host nation Morocco and forced to watch South Africa take the throne. That sting hasn’t faded — it’s fuel.

The players know what’s at stake. Asisat Oshoala, now playing for Bay FC in the U.S. after an illustrious run with Barcelona, returns with fire in her eyes and form in her boots. Alongside her, a younger generation is rising — bold, unshaken, hungry. In training, the tempo has been sharp. In their voices, confidence. In their hearts, belief,She is expected to inspire the younger generation lead by the team Captain Rasheedat and the new blood of Alozie,Ashley,Esther and Toni Payne plus Ayinde a lot is expected.

Now led by new head coach Justine Madugu, following the departure of Randy Waldrum, the Falcons are embracing a refreshed style of play — blending tactical discipline with expressive, fearless attacking football. Madugu has not only brought structure but also instilled belief, trust, and a renewed fighting spirit,Many including me are still stunned Monday Gift is not in this team but yet we are behind them.

The road won’t be easy. Morocco is loud and proud on home soil. South Africa still glows from their 2022 triumph. Zambia arrives with momentum. But even in the shadows of rising stars, Nigeria still stands tallest. When the Super Falcons walk out tomorrow against Tunisia for their opening match, they’ll carry more than just jerseys on their backs. They’ll carry history. Legacy. And expectation.

This is a team that has shaped the narrative of African women’s football for decades. Their dominance isn’t luck. It’s culture. Discipline. Passion. Every touch of the ball, every sprint, every tackle will be driven by the memory of past glories — and the desire to write a new chapter.

As the tournament kicks off today, the message from Nigeria is clear: the Falcons are flying again. Not with arrogance, but with assurance. And by the time the final whistle blows in Rabat on July 26, they believe they’ll be right where they belong — lifting the trophy for a record 10th time.

Africa is watching. Nigeria is ready.

I Totally believe Falcons will come home with the 10th Wafcon

  • Seun Oloketuyi the producer of Flying with the Falcons

Continue Reading



 

Join Us On Facebook

Most Popular