National News
Emefiele Suspension in Order- University Don
Emefiele Suspension in Order- University Don
By: Michael Mike
A university don, Dr. Abayomi Awujola has thrown his weight behind the suspension of Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele by President Bola Ahmed Tinubu, insisting that it was in order and for the good of Nigeria’s economy.
Awujola, an Associate Professor, A Bingham University scholar and Head of the Department of Economics, said would ensure accountability, maintain public confidence, and safeguard the stability of the nation’s financial sector.
In an interview in Abuja on Tuesday, Awujola shared insights into the implications of the suspension and shed light on related matters.
Addressing the question of whether it was the right time for the governor’s suspension, Awujola said the need to rectify any wrongdoing promptly outweighs any other considerations, stressing the importance of taking swift action to address issues and restore integrity in the financial system.
When asked about the possible connection between the governor’s suspension and his involvement in the cash policy and the redesign of the Naira notes during the last elections, he acknowledged that cash policy is generally welcomed worldwide but questioned the timing and implementation process.
He noted that the possibility that the allegations or concerns related to the governor’s involvement in these actions, along with their negative impact on the economy, could have contributed to his suspension, but however emphasized the necessity of investigating such matters to ensure transparency and to maintain public trust.
Regarding the CBN’s action in the redesign of the Naira notes, Awujola highlighted that it falls within the central bank’s responsibility to manage the currency system.
He further explained that currency redesign often aim to enhance security features, durability, aesthetics, and anti-counterfeiting measures. The decision to redesign the Naira notes is part of the central bank’s efforts to create a more secure and culturally reflective currency.
Regarding the governor’s potential compliance with superiors’ instructions, Awujola acknowledged that the CBN governor operates within the central bank’s mandate and regulatory requirements, noting that while the governor may receive instructions or policy directives from government officials, he emphasized the need for actions to align with the central bank’s objectives of maintaining price stability, promoting financial stability, and fostering economic growth.
On the impact of the Naira note redesign on the Nigerian economy, the don outlined several potential effects which include cost implications for the central bank, the potential enhancement of public confidence and trust in the currency, the need for a smooth transition period during the circulation of old an
Emefiele Suspension in Order- University Don
Police arrest MOPOL, security guards over warehouse burglary in Ogun
By: Zagazola Makama
The Police in Ogun have arrested a mobile policeman and several security guards for alleged conspiracy, burglary and theft from a warehouse belonging to H.K Printing & Packaging Limited, Agbara.
Security sources told Zagazola Makama that the incident occurred on Aug. 9 at about 11:00 p.m., when a truck drove into the company premises and proceeded to the warehouse, allegedly aided by security operatives on duty.
According to the sources, Insp. Ibrahim James, attached to PMF 16 Abeokuta, was captured on CCTV moving around and allegedly leading the operation.
Another officer, Insp. Olabamipe Olaiya, posted to the same beat, was said to be absent from duty at the time.
The company’s security guards and the implicated police personnel allegedly conspired with others still at large to break into the warehouse and cart away goods whose total value is yet to be ascertained.
Police detectives led by CSP Phillips Abayomi, Acting ACP, Agbara Division, visited the scene and arrested the mobile policeman along with the private security guards on duty during the incident.
The suspects are being interrogated, while efforts are ongoing to track down fleeing accomplices and recover the stolen items.
Police arrest MOPOL, security guards over warehouse burglary in Ogun
Police launch manhunt for herbalist over alleged ritual killing in Nasarawa
By: Zagazola Makama
The Nasarawa State Police Command says it is searching for a herbalist, simply identified as Alfa, over alleged involvement in a ritual killing and attempted murder in Mararaba.
It was gathered that the case was reported by one Jamilu Abubakar, a vigilante member.
Abubakar allegedly accompanied two young men to Alfa’s residence on Aug. 12 to seek spiritual assistance purportedly to make more money through internet fraud.
“It was gathered that Alfa prepared a concoction and meat for the victims to eat. Shortly after consuming the meal, both developed severe stomach pain and were rushed to the Federal Medical Centre (FMC), Mararaba.
“Sadly, one of the victims, Ani Sunday, aged 21, was confirmed dead by the doctor on duty, while the second, Tosin Akurunor, is responding to treatment,” said the sources.
He said Abubakar had been arrested for his role in taking the victims to the herbalist, while the main suspect, Alfa, was at large.
Efforts are ongoing to apprehend Alfa and conclude investigations, he added.
Police launch manhunt for herbalist over alleged ritual killing in Nasarawa
National News
Investments in circular economy have the potential to increase forex earnings- NESREA DG
Investments in circular economy have the potential to increase forex earnings- NESREA DG
By: Michael Mike
The Director General of National Environmental Standards and Regulations Enforcement Agency (NESREA), Prof. Innocent Barikor has affirmed that investments in the circular economy value chain have the potential to increase the country’s foreign exchange earnings.
Barikor made this statement recently during a meeting with the management of a plastic packaging recycling (rPET) company, Sonnex in Lagos.
He assured the team that the Nigerian government prioritizes circular economy, noting that the draft National Environmental (Plastic Waste Control) Regulations soon to be gazetted is one of the efforts to strengthen the legal framework for circular economy implementation in Nigeria.
He said: “Circular Economy falls under the Presidential priorities for the Federal Ministry of Environment, and the Minister is very keen on the success. Apart from tackling the problem of waste, green jobs have been created .
“The pellets and flakes you produce and export also generate foreign exchange. The Plastic Waste Control Regulations are awaiting official gazette and once gazetted, we would have connected the dots of the framework to implement circular economy in the plastic sector. We are deeply committed to ensuring the success of Circular Economy.”
Earlier, the Managing Director, Anil Mohinani intimated the NESREA boss on the process for the production of recycled PET bottles (rPET), whilst also highlighting the challenges faced by investors in the sector .
He listed some of the setbacks to include lack of a legal instrument to compel manufacturers in the food and beverage sector to embrace food-grade rPET, unfriendly policies by some foreign companies, and insufficient awareness .
“Europe and America create barriers to protect their international recycling business. There is unfair competition. In some countries such as Kenya, there is encouragement to invest in rPET recycling because there is a regulation in place,” he added.
Investments in circular economy have the potential to increase forex earnings- NESREA DG
MSF Expresses Worries Over Rising Cases of Cholera in Zamfara
NSCDC Deploys 20,850 Personnel for Saturday’ Hitch-free By-election
CRS Reintroduction: Gov Radda Shows Genuine Sign to Tackling Insecurity and Developing in Katsina State- NCYP
Roger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
THE PLIGHT OF FARIDA
POLICE CHARGE ROOMS, A MINTING PRESS
-
News1 year agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions3 years ago
THE PLIGHT OF FARIDA
-
Opinions4 years ago
POLICE CHARGE ROOMS, A MINTING PRESS
-
News1 year agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
Columns1 year agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
ACADEMICS1 year agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Opinions1 year agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
-
Politics2 months ago2027: Why Hon. Midala Balami Must Go, as Youths in Hawul and Asikira/Uba Federal Constituency Reject ₦500,000 as Sallah Gift
