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MR. PRESIDENT; WITHHOLD ASSENT TO THE AMENDMENT OF THE CENTRAL BANK OF NIGERIA ACT

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MR. PRESIDENT; WITHHOLD ASSENT TO THE AMENDMENT OF THE CENTRAL BANK OF NIGERIA ACT

By: Michael Mike

Centre for Social Justices (CSJ) notes with regret the recent amendment to the Central Bank of Nigeria Act, increasing advances the CBN can grant to the Federal Government of Nigeria from 5 percent to 15 percent. The amendment contradicts best practices in fiscal responsibility and is an authorization of the Executive to create macroeconomic distortions through arbitrary and increased ways and means funding.

We recall that the extant S.38 of the CBN Act grants FGN access to ways and means financing in respect of temporary deficiency of budget revenue at such rate of interest as may be determined by CBN. The total amount of such advances outstanding shall not at any time exceed five per cent of the previous year’s actual revenue of FGN. All Advances made pursuant to this authority shall be repaid – (a) as soon as possible and shall in any event be repayable by the end of the Federal Government financial year in which they are granted and if such advances remain unpaid at the end of the year, the power of CBN to grant such further advances in any subsequent years shall not be exercisable, unless the outstanding advances have been repaid.

According to Senator Gobir said: “The very essence of this bill is to enable the federal government to meet its immediate and future obligation in the approval of the ways and means by the National Assembly and advances to the federal government by the Central Bank of Nigeria. This amendment is very consequential and it needs the support of us all. This is to enable the federal government to embark on very important projects that will inflate and rejig the economy.” However, the amendment is a misconceived route to meeting the needs and obligations of FGN and definitely cannot be the road to rejigging the economy. It will rather create new macroeconomic challenges.

Specifically, the following issues are noteworthy:

v If FGN has not been able to refund previous advances from the CBN at 5 percent of previous year’s revenue, what machinery did the amendment put in place to ensure that FGN will be in a position to repay 15 percent of previous years revenue by the end of its financial year?

v There is evidence that previous advances from the CBN were in excess of the 5 percent rule and instead of reforms to ensure conformity with fit and good practices, a leeway is provided for deepening fiscal mischief.

v Previous high levels of advances led the Executive to incur over N23trillion in ways and means which could not be repaid and had to be converted by the National Assembly to long term indebtedness contrary to the provisions of the CBN Act.

v S. 38 (1) of the CBN Act categorically states that such advance should be in respect to temporary deficiency of budget revenue and not as a means of funding the deficit budget as the Federal Government has resorted to in recent years. Over the years and in accordance with fit and good practices, ways and means has never been listed in the Appropriation Act as a source of funding the deficit.

v The option of resorting to ways and means to fund budgetary deficits further increases the already high inflation rate especially when done by printing money not backed by value. Thus, it erodes the value of the Naira, and real income; it reduces purchasing power of citizens.

v The amendment of the CBN Act did not follow due process; it was arbitrary and lacking in popular particpation. There was no opportunity of a public hearing and publicity, to give room for Nigerians to make inputs on this very crucial matter with potentials to negatively affect overall economic growth and general welfare of the people.

In the light of the foregoing, CSJ strongly appeals to President Bola Ahmed Tinubu to withhold assent to the bill. CSJ acknowledges the revenue challenges facing the nation but the implementation of this particular bill (if it becomes law) will create monumental macroeconomic challenges now and in the future.

Eze Onyekpere Sundayson Chidi
Lead Director Program Manager, Public Finance Management.

MR. PRESIDENT; WITHHOLD ASSENT TO THE AMENDMENT OF THE CENTRAL BANK OF NIGERIA ACT

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Marwa calls for collective action against drug abuse, cultism, banditry

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Marwa calls for collective action against drug abuse, cultism, banditry

By: Michael Mike

Chairman/Chief Executive of the National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Buba Marwa (Rtd) has called for collective action involving families, religious and community leaders to stem the tide of substance abuse, cultism and banditry among Nigerian youths.

Marwa made the call while delivering the keynote address at a seminar with theme: “Dangers of drug abuse, cultism and banditry among youths”, organized by the Ijebu Ode Council of Olorituns in Ijebu Ode, Ogun state on Saturday

He called on all stakeholders to curb the menace of the inter-linked social vices of illicit drugs, cultism and banditry.

He said the triple threat of cult-related violence, rampant abuse of drugs and illicit substances, and the challenge of banditry across various regions, is a reality that must be dealt with decisively.

He said: “While these issues may appear distinct, they are intricately connected, feeding one another in a cycle of destruction that must be broken if our society is to thrive. Cultism, once largely confined to tertiary institutions, has insidiously spread into secondary schools and neighbourhoods. What began as secret gatherings has transformed into violent confraternities, often manipulated by political or criminal interests. These groups lure young people, often under the guise of brotherhood, protection or empowerment, into a world of fear, violence and premature death. Tragically, the hands of many of our youth have been stained with the blood of their peers, all for false promises of belonging and power.”

According to him, “It is projected that the number of people using drugs will increase by 40% in Africa. When they say Africa, I want us to think of Nigeria, because Nigeria has one of the highest drug use prevalences in the world.”

He however said that despite the projection by the United Nations Office on Drugs and Crime (UNODC), all hope is not lost. “As a nation and as communities, we still possess the power to reverse this trend”, he assured.
“The first step is collective responsibility. Parents, religious institutions, traditional rulers, educational authorities and community leaders must rise with one voice against these vices. The family unit must be strengthened as the first point of moral instruction, while schools should be safe spaces that promote discipline, mentorship and awareness.

“We must also invest in youth development by creating opportunities for education, entrepreneurship, skills acquisition and sports. Idle hands, as we know, are the devil’s workshop. When our young people find purpose and meaning, they are less likely to seek false validation from cults or drugs”, Marwa stated.

On how the NDLEA is responding to the challenge, Marwa said: “We have intensified our war against drug trafficking and abuse. Nationwide raids have led to significant seizures and arrests, which we share weekly on our official channels.

“In the past 54 months, we have arrested 67, 345 traffickers, including 95 barons, and 12, 415 of them are presently serving various jail terms. The barons we have arrested are not anonymous people in society. They include big business people and socialites—some of them have chieftaincy titles—and also government officials, including those tasked with maintaining law and order. That tells how deeply the rot had eaten into the fabric of our society.
“Within the period, we have seized more than 11.2 million kilograms of assorted illicit drugs and destroyed 1,572 hectares of cannabis farms mostly in Southwest States where some people are cultivating cannabis on a large scale, utilising land that should have been used for other cash crops for illicit crops.

“We are also scaling up our Drug Demand Reduction programmes, including school outreaches, community sensitisation and rehabilitation initiatives. We have within the same period conducted 11,584 sensitisatioin lectures in schools, work places, woship centres, motor parks, palaces of traditional rulers and communities, while 27, 187 drug users have been treated and rehabilitated through our 30 rehab facilities across the country in addition to thousands of others who have benefitted from the psychosocial support services provided on our toll-free helpline: 080010203040.”

The NDLEA boss, while challenging other stakeholders, said “we cannot do it alone. We need communities like Ijebu-Ode to partner with us, to speak up, to report suspicious activities and to support our advocacy drives.

“Moreover, security architecture must be enhanced at the grassroots level. Local vigilante groups, properly trained and coordinated, can serve as the eyes and ears of the community, working closely with law enforcement agencies to disrupt cult gatherings and prevent violent incidents.

“We must rekindle the moral and spiritual fabric of our society. We must remind our youth that there is dignity in labour, pride in learning and honour in integrity. The path to greatness is not paved with shortcuts of violence and drugs, but with hard work, vision and purpose.”

He commended the Council of Oloritun for organizing the seminar and the choice of the theme. “Your commitment to community and youth development is clear, and I encourage other councils across Nigeria to emulate this initiative. Let us rise as one people to rescue our children, secure our streets and restore the values that once defined our land”, he added.

In his welcome address, Chairman of the Council, Chief Adebisi Adeola Alausa commended Marwa for accepting the Council’s invitation. He said: “Your presence today reflects our shared commitment to safeguarding the future of our community and our nation. We are gathered here not merely as individuals, but as a united front, as traditional leaders, government officials, parents, educators, and most importantly, our youths, to confront challenges that threaten the very fabric of our society. The issues we address today, the drug abuse, cultism, and banditry, are not distant problems”

Chairman of the occasion, Senator Lekan Mustapha describe different approaches Marwa as a visionary leader based on his past records of performance as military governor of Borno and Lagos as well as his transformation of NDLEA into reckoning both locally and internationally. “That you honoured our invitation shows your passion for the job, the safety and protection of our youths from drug and other vices”, he added.

Marwa seized the opportunity of his presence in Ijebu Ode to pay the family of the late Awujale of Ijebu land, Oba Sikiru Adetona, a condolence visit.

Marwa calls for collective action against drug abuse, cultism, banditry

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Two Women Abducted in Kwara State, Security Forces Launch Search Operation

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Two Women Abducted in Kwara State, Security Forces Launch Search Operation

By: Zagazola Makama

The Kwara State Police Command, Zone 8 Lokoja, has confirmed the abduction of two women from Edogi community in the early hours of Friday.

The incident occurred at about 2:00 a.m. when armed men invaded the home of 50-year-old Alhaji Mustapha and took away his wives Shafa’u Mustapha and 35-year-old Fauzat Mustapha.

Upon receiving the report around 8:00 a.m., soldiers, police, vigilante members, and local hunters were mobilized to the scene and began combing nearby bushes in a search-and-rescue mission.

Authorities say investigation is ongoing to track down the kidnappers and secure the victims’ release.

Two Women Abducted in Kwara State, Security Forces Launch Search Operation

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Education: Zulum upgrades infrastructure, teachers’ welfare

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Education: Zulum upgrades infrastructure, teachers’ welfare

… orders more high Islamic colleges, libraries

By: Our Reporter

Borno State Governor, Babagana Umara Zulum, held a high-level meeting on Thursday with key stakeholders in the education sector to review current challenges and outline fresh directives for improving learning outcomes, infrastructure, and coordination across the state.

The meeting, chaired by the Governor at the Council Chamber of the Government House in Maiduguri, brought together senior officials from the Ministry of Education, Science, Technology and Innovation and heads of education boards, agencies, and institutions.

Zulum emphasised the synergy among all agencies in the education sector noting that with proper collaboration effective service delivery would be provided for the people of Borno.

Governor Zulum outlined a multifaceted plan to rejuvenate the education sector, which includes building houses for teachers, renovating dilapidated schools, providing professional development opportunities, and improving teachers’ access to resources.

The meeting was attended by the Deputy Governor, Umar Usman Kadafur, Acting Chief of Staff, Dr Babagana Mustapha Mallumbe, Commissioner for Education, Science, Technology and Innovation, Engr Lawan Abba Wakilbe, among other senior officials.

… orders more high Islamic colleges, libraries

Meanwhile, as part of his policy direction for the education sector, Governor Babagana Umara Zulum has directed the establishment of additional High Islamic Colleges in some local government areas.

The High Islamic Colleges are designed to offer a wide range of programmes, including traditional Islamic studies, literacy and numeracy, modern sciences, and vocational training.

According to Zulum, the High Islamic Colleges were to ensure the integration of the non-formal education sector with formal education. He also affirmed that the colleges will teach basic literacy, numeracy, and vocational skills to Almajiri pupils and will provide a second chance for out-of-school children who have exceeded the enrollment age.

In addition, the governor directed the establishment of additional state libraries in Biu, southern Borno, and Monguno, in the northern part of the state.

“Deliberately, I upgraded the Maiduguri library, with the aim of establishing another one in Biu and one in Monguno in order to promote reading culture, which is fast eroding. I want you to rejuvenate the reading culture by ensuring the library is effective. But most importantly, apart from the physical books, let’s put a mechanism for e-books in place,” Zulum said.

Education: Zulum upgrades infrastructure, teachers’ welfare

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