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Terrorists Already Have Surplus Of New Naira Notes — Sheikh Gumi

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Sheikh Ahmad Gumi, Controversial Islamic cleric, has said that the plan by the Central Bank of Nigeria, CBN, to curb kidnapping in the country through the redesign of the N200, N500, and N1,000 notes is not effective as terrorists already have access to the new notes.

Gumi noted that the terrorists were “people who have grievances and also like to improve their image” adding that citing terrorism as the reason for naira redesign would not bring any results.

Speaking in an interview with The Punch on Saturday, the cleric said the terrorists had mocked Emefiele by the viral video of them displaying the new notes.

He said, “I was one of the people that said it (the CBN initial deadline) was not feasible and I envisaged that it was going to be removed. The government has programmes but in executing the programmes, it is very clumsy; it’s not well thought out. I heard an economist saying that when you have three great events in the same year using the same resources, one has to give way. You cannot over-task your donkey, else, it will collapse.

“An upheaval would have come (if CBN didn’t extend the deadline). Look at how popular Buhari was in Kano and suddenly, people in Kano were turning against him. It is really sad to see that. In Sudan, a mere increase in the price of bread caused the fall of the government because the people depend on it. There is despair among people; they will turn against you, so you don’t take people for granted.

Speaking on the video of terrorists displaying the new notes, he said “These (terrorists) are people who have grievances and also like to improve their image. The CBN governor mentioned that the reason for changing the notes was to deprive terrorists (of money). They (terrorists) hear him and say, “Here is your money with us”. They can catch (kidnap) people and collect new ones (naira notes) and even demand something else like foreign currency. So, citing terrorism as the reason for this draconian rule in a democratic nation is negative; it will not bring any good results. It (the display of new notes by the terrorist) is a show of mockery.

“First, those in the almajiri system are not involved in criminality, banditry, or Boko Haram because they (pupils) are already under the tutelage of a leader they respect, though they can be engaged in other forms of crime like thuggery. So, no child should be left behind in Nigeria. Every government should make sure education is well-taken care of.

“The economy is very important. The person (new President) should improve the economy. Once the economy is improved, a lot of these problems will go down naturally. Another thing is employment. Job creation is a very important programme any government should embrace. Security should be improved too. There is a lot of corruption in our security (agencies) which should be flushed out. They know how to bring out the moles. They just need to be proactive.”

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UBA Takes Centre Stage At 2024 ECOWAS Mining Forum In Cotonou, Benin As Elumelu Gives Keynote Address

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has been announced as the official sponsor of the 4th edition of the ECOWAS Mining and Petroleum Forum (ECOMOF 2024) scheduled to take place at the Palais des Congrès in Cotonou, Benin from February 22 to February 24, 2024.

The regional event is expected to see a large gathering of key players and stakeholders in the mining and petroleum sectors of the Economic Community of West African States (ECOWAS) and as the financial institution of choice, with presence in 20 African countries and active involvement in major continental development projects, UBA is the preferred partner for the event, underlining the bank’s commitment to the growth of mining and Petroleum industry in the sub-region but to the whole not African economic development.

UBA Group Chairman, Tony Elumelu, would give the keynote address during the opening ceremony of this all-important event.

Elumelu who doubles as Chairman of Transcorp Group, with extensive interests in energy and power, will be speaking on the theme: “Geo-extractive Resources and Technologies: what pooling strategies for Value Creation in West Africa”

His speech is expected to highlight UBA’s increasing effort to support and develop the African continent through strategic investments in the key sectors of mining and petroleum.

Under the esteemed leadership of the President of the Republic of Benin, His Excellency, Patrice Talon, and the President of the Federal Republic of Nigeria and current President of ECOWAS, His Excellency Mr. Bola Tinubu, UBA Group will at the forum aim to restate its commitment towards supporting economic and social development across the continent.

The focus of ECOMOF 2024 underscores the significance of transforming the mining and oil sectors into economic pillars by formulating attractive policies for investors, essential for the sectors’ substantial contribution to the Gross Domestic Products (GDP) of ECOWAS member states.

The Transnational Corporation Group (Transcorp Plc) – a diversified conglomerate with strategic investments in various sectors, including power and energy – will also actively participate in the forum.

Key officials from UBA Group and Transcorp Plc, including the Chief Executive Officer UBA Africa, Abiola Bawuah; UBA’s Group Head, Corporate and Energy Bank, Ebele Ogbue, and President/ Chief Executive Officer, Transcorp Group, Owen Omogiafo will be actively involved in discussions and panels on the sidelines of the event.

Anticipated to attract over 2,000 participants from diverse sectors, including representatives from mining and oil industries, government officials, international and national investors, industry experts, ECOWAS delegates, and international organizations, ECOMOF 2024 promises to be a significant platform for collaborative dialogue and partnership building.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group wide and serving over 35 million customers globally. Operating in 20 African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

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JUST IN: FG Working To Reduce Rising Food Prices Inherited From Past Government — Finance Minister Wale Edun

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Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, said that President Bola Tinubu’s administration inherited a surge in food and general commodity prices from the previous government.

He, however emphasized the government’s commitment to reducing food prices and tackling the nation’s high inflation rate.

Speaking at the Public Wealth Management Conference in Abuja on Tuesday, February 20, the finance minister acknowledged the hardships faced by Nigerians and outlined measures taken to alleviate their suffering.

He revealed that, as part of these interventions, the government has released 42,000 metric tons of grains, with an additional 60,000 metric tons scheduled for release soon.

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JUST IN: State Police Bill Passes Second Reading At House Of Representatives

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A bill proposing the establishment state police has passed second reading at the house of representatives.

Sponsored by Benjamin Kalu, deputy speaker of the house, and 14 others, the bill proposes to transfer the term “police” in the 1999 constitution from the exclusive legislative list to the concurrent legislative list.

The bill, which comprises 18 clauses, seeks to amend sections 34, 35, 39, 42, 84, 89, 129 153, 197, 214, 215 and 216 of the constitution.

 

More to come…

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