***CBN convinces Senate Panel on N100, 000 Cash Withdrawal
The former governor of Bayelsa State Seriaki Dickson has kicked against the new cash withdrawal policy as he
accused the ruling All Progressives Congress (APC) of having a hidden agenda behind it
Controversies have continued to trail the planned policy of the Central Bank of Nigeria (CBN) to limited cash withdrawal for individuals to N100,000 and Corporate Bodies N500, 000 per week
He spoke with newsmen after the screening of the Deputy Governor of CBN on Financial System Stability,
Mrs Aishat Ahmad and her counterpart on Corporate Services, Edward Lametek Adamu, for re-appointments by the Senate Committee on Banking, Insurance and other Financial Institutions.
Dickson wondered why the ruling party was not concerned about the success of the forthcoming 2023 election
He said ordinarily they should have allowed the incoming Government to carry out the new policies if they don’t have any hidden agenda
This was just as the Central Bank of Nigeria made effort to convince the Senate Committee on Banking, Insurance and other Financial Institutions on why the policy has come to stay
The policy as disclosed by the Deputy Governor of CBN on Financial System Stability, Mrs Aishat Ahmad was introduced in 2012 during former President Good luck Jonathan ‘s administration and extended to Abuja and six other states in 2013 .
She said cashless policy being fully implemented by CBN now is not new , as required steps in that direction, was taken in 2012 with Lagos State as pilot scheme and Abuja and Six other states in 2013 .
She explained that though full implementation of the policy has not been carried out by CBN since then , but its introduction then, has brought a lot of transformation in the banking and payment system .
“Distinguished Chairman of this committee and members , I ‘m happy for the opportunity given to make presentations on planned N100,000 withdraw limit for individuals and N500, 000 for Corporate Bodies per week, beginning from 9th January, 2023, in line with cashless policy introduced in 2012 .
“Based on information available to CBN, the time for full implementation of the policy with proposed limit on cash withdrawals per week is now .
“Required infrastructure for its implementation in terms of financial access point system , mobile money , e – naira etc , are available across the 774 local government councils in the country .
“All fears and worries being expressed by Nigerians on the planned limited cash withdrawal policy are seriously being taken care of as nobody or section of Nigerians , will be left out .
” In the past , banking transactions in Nigeria was limited to Bank Branches alone as the only means , which has now expanded into multiple electronic platforms as well as geometrical increase in the number of agents from 88,000 to 1.4million “, she said.
She however said that the Apex bank is flexible and will be ready to accommodate opinions that won’t make the policy strenuous to any category of Nigerians during implementation .
After her presentation, the Committee chaired by Senator Uba Sani (APC Kaduna Central) , gave the two nominees ‘ take a bow and go treatment ‘ as moved by the Whip of the Senate , Senator Orji Uzor Kalu and seconded by Senator Danjuma Goje .
Chairman of the Committee in his remarks said : ” With presentation made by the Deputy Governor of CBN on Financial System Stability , Aisha Ndanusa Ahmad on the planned limited cash withdrawal, required information on the merits of the policy has been given and will be communicated to the Senate in plenary through our report .
“The two Deputy Governors , having earlier been screened before serving their first tenures , need not to again as unanimously agreed by members of the Committee .
“They should therefore take a bow and go “.
CSO hails NEITI for implementation of EITI Process
By Naomi Sharang
The Centre for Transparency Advocacy (CTA), on Tuesday, commended Nigeria’s achievement in the recent final global assessment of the implementation of the Extractive Industries Transparency Initiative (EITI) in the country.
Executive Director of the centre, Ms Faith Nwadishi gave the commendation in a statement in Abuja.
She said: “CTA welcomes the news of Nigeria’s achievement in the recent final global assessment of the implementation of the Extractive Industries Transparency Initiative EITI in the country.
“In a release by the EITI global office, Nigeria achieved the highest possible score of 90 points for data integrity, report comprehensiveness, outcomes and impacts, economic growth contribution and legal framework conformance.
According to her, the feat by Nigeria was a good development even as the country was graded 72 percent over 100 overall.
“We commend NEITI for its consistency in the implementation of the EITI Process since it signed on to the EITI in 2002.
“It is also noteworthy to commend the leadership and management of NEITI to have consistently walked the part of consultations with different stakeholders in its resolve to place Nigeria in good standing in the EITI process .
“Note also that the Board specifically cited NEITI’s successful implementation of EITI in the nation with visible and tangible impacts on extractive industry governance in reaching the conclusion for Nigeria’s rating of 72 over 100.
“Although this is a commendable achievement, NEITI, the civil society , relevant stakeholders and the Nigeria government still have a lot to do to achieve at least a 98 percent excellent mark in the next EITI process in 2026.
“The CTA therefore, calls for the cooperation of all stakeholders including companies in the extractive sector to work together for the good of Nigeria especially in projecting positive activities that will lead to satisfactory outcomes from the EITI process .
“Industry operators and government agencies/regulators should open their doors and allow access for robust engagements and consultations at all times.
“Equally, the civil society should keep an open mind in engagements with NEITI which should be more often.
“The EITI process is about Nigeria and therefore bigger than any individual or group aggrandisement.
“As pointed out in the report, Contract Transparency should be a key area to focus in the next EITI process .
“We therefore call for a renewed strategy to reinforce contract disclosures and beneficial ownership by industry operators and government.
“The expansion of beneficial ownership declarations, the focus on the development of the solid minerals sector, and all other emerging challenges in the extractive sector as listed in the EITI Board assessment for improvement are additional areas that need to be improved.”
Nwadishi further called for a more significant support from the legislature which would include the presentation of NEITI reports as priority in the legislative agenda.
“And the quick passage of the NEITI Amendment Act 2007 and listing NEITI Board as statutory to avoid the constant dissolution of the board each time a new government is in power.
“In Nigeria’s oil and gas industry, we hope that this signals the beginning of a new age marked by accountability and advancement.
“Since the next global assessment of Nigeria is set for Jan. 1, 2026 by the global EITI, we hope that all remedial measures should have been reinforced.”(NAN)
COP28: Frank tells Tinubu to apologise to Nigerians over ’embarrassing speech’, 1,400 delegation
President Bola Ahmed Tinubu, must apologise to Nigerians for his speech described as “one of the most embarrassing speeches ever, filled with inconsistency and totally out of point” at the ongoing COP 28 climate change event in Dubai, political activist and former Deputy National Publicity Secretary of the All Progressives Congress (APC), Comrade Timi Frank, has indicated.
Frank also condemned over 1,400 government officials and individuals in the President delegation to the international event.
In a statement released Tuesday in Abuja, Frank pointed out that the large number “is not only embarrassing to Nigerians, but a shame to a government who promised to cut down on spending, but rather encouraging Estacode spending by different agencies and parastatals whose attendance has no significant benefit to the Nigerian people.”
According to Timi Frank, the speech delivered by the President, which has now become a subject of caricature to many Nigerians worldwide has cost Nigerians over $20m, as the only African country and the 3rd nation, with a large delegation of over 1,400 persons whose impact cannot be felt and has only succeeded in squandering government funds unnecessarily.
He observed that China & Brazil which are world economies had about 1,600 delegates and 1500 respectively, with Nigeria coming 3rd.
“It is sad to see many at the international event wondering how the President of Nigeria would deliver one of the most embarrassing speeches ever, filled with inconsistency and totally out of point, being presented by a world leader at this auspicious World event.
“Moreso, that this is coming at a time when many Nigerians are languishing in pernury because of the untold hardship associated with the coming of this government.
“If this speech that was read at the COP 28 was what was given to him by the experts, then they should immediately be fired for leading him astray. Nigerians cannot continue to be a joke internationally, after spending such a huge amount only to embarrass the country in this manner
“Other countries were there with very few delegations and achieved so much, but in our case it was partying and shopping without being visible in the event proper. Afterall, Nigeria has no significant carbon footprints to allow for such a huge delegation to grace the event.
“Therefore, I call on the President to immediately apologize to Nigerians and explain why the embarrassment on Nigerians in an international event. These are the reasons why investors continue to reject the idea of investing in Nigeria, because of our lack of seriousness in leadership.
“Other world leaders were very visible, initiating deals on the sidelines whereas.the delegation from Nigeria where partying and shopping around Dubai and nowhere to be found.
“This is the reason why Nigerians must support the upcoming grand diaspora protest, of Tinubu must go as this is the only way the people can have their say and save the nation.
“We are hopeful that some day, Nigerians would witness a true leader who would change the narrative for the better.”
Akpabio expresses hope of a united Nigeria where all tribes will speak in one accord
The President of the Senate Godswill Akpabio has expressed the optimism that a day will come in Nigeria when all tribes and tongues will come together in patriotism to push the country to its Eldorado
Akpabio spoke on Sunday at the Occasion of the NTA Carol Night, 2023.
“I believe that one day, Nigerians of all tribes, peoples and tongues will come together in unity and patriotism, and share the love of Jesus Christ.
He indicated that Nigerians are in the Guinness Book of World Records for the largest ever ensemble of Christmas Carol Singers.
Explaining further, he said the feat was attained when he was the Governor of Akwa Ibom State.
“We wanted to have a taste of Heaven when the Bible says in Revelation 7:9 that “… a great multitude which no one could number, of all nations, tribes, peoples, and tongues, standing before the throne and before the Lamb, clothed with white robes, with palm branches in their hands.”
He recognised Former Head of State General Yakubu Gowon as he thanked him as grand patron for being steadfast uptil today
“I used to ask my self a question, what if we were not praying? In a difficult time such as we faced during the COVID a lot of people in the world thought Nigeria was going to go down with every household carrying dead bodies but God though otherwise because of the prayers of the Church abd prayers of good men who struggled with the believe that God will definitely intervened and God intervened nit just for Nigeria but for the reat of the world.
“The administration of Preaident Tinubu believes strogly in renewing the hope of all Nigerians so it is coming very apt at this time. Our hope is being rwnewed in the activities going on.
“The joy if this Christmans starting from the 3rd day of December shows us clearly that you have been steadfast for 20 years
While commeding the NTA, Voice of Nigeria and the FRCN who put the event together and have been doing it for the past two decades, he said, “I am thrilled that at your 20 anniversary, you are the senate president who believes so much in Chrismas Carols.
“I have this believe that the only reason that God made man was for man to praise and worship God and therwforewhen I had the opportunity to be Governor between 2007 and 2015, I drew the attention on yearly bases of about 59 countries to know that Jesus has come and therefore we organised the largest choir on earth and we broke the guinness book of records and it is still there till today. My people named it after me, Godswill Akpabio Choir.
“Just as the star led the way to the humble manger in
Bethlehem, Jesus continues to light the path for those who place their trust in Him. “His birth represents a promise, a divine covenant calling us out of darkness into His marvelous
light. His life exemplifies limitless compassion, forgiveness, and unwavering love.
“By embracing Jesus as our hope, we discover strength, redemption, and the promise of eternal
“In Nigeria, the power of hope resonates deeply within us. We have faced our fair share of trials and tribulations, but our faith and the hope found in the message of Jesus have kept us resilient.
“In a world grappling with uncertainty, strife, and challenges, Jesus remains the beacon of hope, offering solace and assurance to all who seek Him.
“Today, as we celebrate Christmas in unity and love, let us rekindle that hope within our hearts, inspiring change, forgiveness, and compassion towards one another.
“This Christmas carol event, graciously organized by the
Nigeria Television Authority, serves as a reminder for us all that our hope in Jesus shall never fail because God’s word shall never pass away.
“His love which was made manifest In Christmas shall never cease and it brings good will and peace
to all of mankind.
“In celebration of this, we have come to witness the power of music, transcending barriers, and touching the depths of our
“We are reminded of the angelic music the shepherds heard when they heralded his birth. As we embrace these harmonious melodies, let us remember that they, too, carry the message of hope through the ages, reminding us of Jesus’ everlasting impact on humanity.
In this season of joy, may Jesus’ birth echo within us all, guiding our thoughts, our words, and our actions. May “His hope reignite our spirits, encouraging us to spread love and kindness to those around us.
“Each small act of goodwill can illuminate a life, bringing light to the darkest corners of our world.
“As we sing our carols and rejoice together, may Jesus, our eternal hope, fill us with renewed faith, strength, and
“Let us carry His message of love and hope throughout the year, illuminating our homes, communities,
and our beloved Nigeria.”
“As we gather here today, united in celebration and joy, we are reminded of the true essence of Christmas — the birth of Jesus Christ, our eternal hope.
Let us, therefore, reflect upon
this profound theme of “Jesus Our Hope,” and embrace His love and grace.
Christmas is a time when hope fills the air, when merriment and goodwill permeate our hearts. Yet, amidst the glittering
lights and festive cheer, it is essential to remember the
reason for this season — the birth of our Savior, Jesus Christ.
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