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Council of State backs Naira Redesign Policy as meeting ends in Aso Rock

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President Muhammadu Buhari

The Council of State meeting convened by President Muhammadu Buhari on Friday, at the Presidential Villa came to an end with most of the participants backing the Federal Government’s naira redesign policy.

The meeting which had the Vice President, Prof. Yemi Osinbajo, former President Goodluck Jonathan, former Head of State, Abdulsalami Abubakar and General Yakubu Gowon in attendance physically, however, advised Buhari to consider making the old naira notes available in the interim if the Central Bank of Nigeria, the policy implementer cannot readily make the new naira notes available to the citizens.

Taraba State Governor, Darius Ishaku, his counterpart, the Governor of Lagos State, Babajide Sanwo-Olu including the Attorney General of the Federation and Minister of Justice, Abubakar Malami took turns to reveal part of what transpired at the meeting.

Ishaku said the Council of State members made it clear that the policy is accepted and has come to stay but that the resistance of the populace to its introduction was also not misplaced. According to Ishaku, the Council acknowledged that at the beginning people resist a policy even though it is good.

He said the Council which only plays an advisory role observed that the problem was that of implementation, considering that the majority of Nigerians are subjected to suffering.

Asked what was the major position of the President, who is at the centre of the policy, the Taraba Governor said the President directed state governments to go to their respective states to proffer solutions, by way of ensuring that they help to ease the tensions being experienced in the country.

On the level of preparations for the general elections set to kick off February 25th and March 11th respectively. The AGF, Malami said the Chairman of the Independent National Electoral Commission (INEC) gave enough assurance that nothing can hinder the Commission from going ahead with the elections.

He said the Inspector General of Police, Alkali Baba equally gave assurance that its men and officers were ready to support the Commission to see that the polls go hitch-free.

The position of the Federal Government was also corroborated by Governor Sanwo-Olu who said the policy stands but that the Council agreed that there was a need for aggressive action with regard to the provision of the new currency

Source: BBC

In other news – Saraki congratulates Tems on Grammy award win

Former Senate President Bukola Saraki has congratulated Nigeria’s first female Grammy award-winning singer, Temilade Openiyi, known professionally as Tems.

Tems

The former Senate president, in a tweet on his official Twitter handle on Monday, said ”Congratulations to the trailblazing Tems @temsbaby for making history as the first female Nigerian artist to receive a Grammy Award. Learn more

Nigeria Breaking News

EFCC arrests 10 suspected illegal miners in Oyo

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Financial Crimes Commission

Operatives of the Economic and Financial Crimes Commission on Monday arrested ten suspected illegal miners in Ogbomoso, Oyo State. The suspects are Yunusa Adisa, Ganiyu Kazeem, Muideen Babayemi, Sulaiman Usman, Adeleke Waliu, Tiamiyu Rokeeb, Olusola Sunday, Oyedokun Oluwagbemiga, Sulaimon Ishiaq, and Olufimihan Eniola.

A statement on Monday by the EFCC’s spokesperson, Dele Oyewale, said the suspects were arrested with six trucks fully loaded with lithium.

He added that the suspects would be arraigned in court after an investigation into the matter. Oyewale said, “Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission have arrested ten suspected illegal miners in Ogbomoso, Oyo State.

“The arrests followed credible intelligence on their suspected involvement in the illegal extraction of solid mineral resources in the state, especially lithium, and their evacuation to unknown destinations. The suspects will be charged to court upon the conclusion of investigations

Source: Dailypost

In other news – My friend warned me against investing in Nigeria – Aliko Dangote

President of the Dangote Group, Aliko Dangote has said a wealthy friend of his, who had previously warned him against investing in Nigeria is now laughing at him for ignoring his advice.

 

Aliko Dangote

He made this disclosure following reports that the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, criticized the quality of diesel from the Dangote Refinery. Read more

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Senate and NCWS want domestic staff included in minimum wage

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Senate

The Nigerian Senate and the National Council of Women Society, NCWS on Monday advocated for the inclusion of domestic servants in Nigeria in the proposed N70,000 minimum wage when it comes into effect. The call was at the National Assembly in Abuja during a public hearing on a bill seeking an Act to provide for the Domestication and Registration of domestic workers and Employers in Nigeria,

The public hearing on the bill sponsored by Senator Babangida Hussaini representing Jigawa North West, was organized by the Senate Committee on Employment, Labour and Productivity chaired by Senator Diket Plang.  The Senate’s call for the inclusion of domestic servants in the National Minimum Wage Scheme, especially came from Senator Osita Izunaso representing Imo West, during his remarks at the public hearing.

He said: “As a member of this committee, I feel strongly that part of the provisions to be included in this bill, is to include the domestic workers be it housemaids or servants, in the proposed N70,000 National Minimum wage law. As N70,000 is being planned to be the lowest wage for the lowest public workers, so should be the case for least domestic workers. We are going to put it in the bill for implementation by all employers.”

He, however, suggested that instead of domestication and protection of domestic workers and employers, the intent of the bill should be changed to registration and protection of domestic workers and their employers. In a similar call, the Acting National President of NCWS, Mrs Geraldeen Etuk, argued for the inclusion of domestic servants in the proposed National Minimum Wage law.

However, during an interview at the sideline of the event, the sponsor of the bill, Senator Babangida Hussaini said although he was elated by the general support the bill got from the various stakeholders, the practical implementation of the additional scope of inclusion of domestic workers in the national minimum wage is what is somewhat doubtful.

” There is no point in making a law that cannot be implemented but I’m happy that the generality of stakeholders at the public hearing supported the bill and by extension, the proposed law.

Earlier in his remarks during the session, the Chairman of the Committee, Senator Diket Plang, said an agency will surely be set up for the implementation of the proposed law, but the Ministry of Labour and Productivity will drive the operation from the onset.

Source: Dailypost

In other news – Senate to investigate economic sabotage in petroleum sector, inaugurates Ad-hoc committee

In a bid to tackle saboteurs in the petroleum sector, the Nigerian Senate on Monday inaugurated the Ad-hoc committee to investigate the alleged economic sabotage in the petroleum sector.

 

Nigerian Senate

Senate President, Godswill Obot Akpabio while reading riot act to saboteurs, said, the nation cannot afford to tolerate any form of economic sabotage at this time, even as the petroleum sector is the backbone of Nigeria’s economy. Read more

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Nigeria Breaking News

Senate to investigate economic sabotage in petroleum sector, inaugurates Ad-hoc committee

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Nigerian Senate

In a bid to tackle saboteurs in the petroleum sector, the Nigerian Senate on Monday inaugurated the Ad-hoc committee to investigate the alleged economic sabotage in the petroleum sector. Senate President, Godswill Obot Akpabio while reading riot act to saboteurs, said, the nation cannot afford to tolerate any form of economic sabotage at this time, even as the petroleum sector is the backbone of Nigeria’s economy.

He said any threat to the sector was a direct threat to the economic survival of the country and no government in power would tolerate compromise in the integrity of the petroleum industry.Akpabio lamented the age-long economic sabotage in the petroleum industry, particularly the pipeline vandalisation, which was the main reason the Committee was being inaugurated to investigate and turn in reports for further legislative activities.

Akpabio said: “This industry, without a doubt, is the backbone of Nigeria’s economy, and any threat to its integrity is a direct threat to the economic survival of our beloved nation.

“The petroleum sector has been the lifeblood of our economy, providing the revenue that funds our infrastructure, education, healthcare, and numerous other vital sectors. However, the shadow of economic sabotage looms large, threatening to destabilize this critical industry and, by extension, our nation’s financial stability.

“Over the past few years, we have witnessed a concerning trend of alleged malpractices and economic sabotage within the petroleum sector. These allegations range from illegal bunkering, pipeline vandalism, oil theft, and other nefarious activities that have collectively bled our economy dry. The impact of these actions has been devastating, contributing significantly to our current economic downturn.

“Revenue losses from these illegal activities have deprived our nation of the funds needed for development and growth. They have undermined investor confidence, distorted market operations, and exacerbated our economic challenges. It is not just a financial issue; it is a matter of national security and sovereignty. If left unchecked, these acts of sabotage could cripple our economy and hinder our progress for generations to come.”

The Senate President said the upper legislative chamber would act decisively and urgently too, to deal with criminal acts by identifying those behind the ugly trend and bring them to account for their actions.

He charged the Committee to collaborate with relevant agencies, industry experts, and stakeholders to uncover the root causes of the economic sabotage activities. Identify the perpetrators, their methods, and their networks. Senate Leader, Michael Bamidele Opeyemi is the Chairman of the Ad-hoc Committee investigating economic saboteurs in the petroleum sector.

Source: dailypost

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