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

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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VP Shettima To Journalists: President Tinubu Remains Your Ally, Will Preserve Your Rights

VP Shettima To Journalists: President Tinubu Remains Your Ally, Will Preserve Your Rights
…Pledges to table NUJ’s demands of protection, review of libel laws, others before the president
By: Our Reporter
The Vice President, Senator Kashim Shettima, has assured the Nigeria Union of Journalists (NUJ) that the administration of President Bola Ahmed Tinubu remains an ally of the media, and is committed to protecting and advancing the journalism profession in the country.
The Vice President recalled that President Tinubu has long been supportive of the media and would not deviate from his consistent track record of upholding the integrity of the journalism profession in Nigeria.
Senator Shettima gave the assurance on Wednesday when he hosted a delegation of the NUJ leadership at the Presidential Villa, Abuja.

The Vice President however noted that the government and citizens alike expect a lot from the media, emphasizing that the journalism profession stands almost at par with the judiciary.
According to him, journalists are expected to hold public officials accountable and adjudicate on issues of governance.
“In President Bola Ahmed Tinubu, you have a friend, an ally, and a proprietor who has been kind to the Nigerian media over the years.
“I want to assure you that this administration will do its best to promote, project, and preserve the interests of the journalism profession. You are the life wire of the nation — we can’t afford to muzzle you,” the Vice President said.
Describing the media as the conscience of the nation, Senator Shettima stressed that authorities cannot afford to intimidate journalists, as they are indispensable to the survival of democracy in the country.

“Past generations of Nigerian leaders — from Herbert Macaulay to Nnamdi Azikiwe and even Obafemi Awolowo — were first journalists before they became political leaders,” the Vice President recalled.
VP Shettima acknowledged the challenges facing the media industry, noting that several media organizations in Nigeria struggle to pay staff salaries and emoluments.
He appealed to the NUJ to remain hopeful, promising that President Tinubu would continue to support the Union.
“Be rest assured that the President will render his support to your organization. We cannot afford to allow the journalism profession to die,” he added.
Shettima further noted that President Tinubu’s decision to remove fuel subsidies was made in the national interest, just as he reaffirmed the administration’s commitment to repositioning the Nigerian economy for the benefit of all citizens.
Earlier, the National President NUJ, Comrade Alhassan Yahya Abdullahi, drew the Vice President’s attention to some critical issues confronting journalists in the course of doing their job, urging him to use his office “to take a firm stance in defending press freedom, and ensuring that journalists are not punished for doing their constitutional duty.”

He also urged the government “to initiate a comprehensive review of colonial-era laws such as sections of the Criminal and Penal Codes that continue to criminalize journalism,” maintaining that “libel should be decriminalized.”
Other demands made by the NUJ President include facilitation of a national safety protocol for journalists, in collaboration with security agencies, to ensure that no reporter is harmed for simply reporting the news.
He also called for government’s partnership with the media to initiate a media support framework, including training grants, soft loans, tax relief, and a targeted bailout for critical media institutions.
The NUJ also sought partnerships with TETFUND, universities, and international media institutes to uplift training standards across the profession, as well as the creation of a Permanent Government- Media Liaison Platform under the office of the Vice President to foster regular engagement, clarify national policies, and prevent the vacuum breeding misinformation.
Abdullahi pledged the support of the Nigerian press for the President Tinubu’s development agenda, noting however that the press will always maintain the right to speak truth to power for the survival of democracy.
“We are institutional partners and would not be drowned in the false narratives that the media must be antagonistic to government. Same way we call out government when we feel that certain issues are not clearly given the needed consideration, we also would be ready to applaud government when things have been done right,” he added.
He commended the administration of President Tinubu over what he described as tangible efforts and firm support in key areas of national development, despite the economic headwinds facing Nigeria, just like many other nations.
Abdullahi acknowledged that in less than three years, the administration has undertaken bold reforms targeted at stabilizing the nation’s economy.
VP Shettima To Journalists: President Tinubu Remains Your Ally, Will Preserve Your Rights
News
Gombe father submits son for measles vaccination after evading immunisation in school

Gombe father submits son for measles vaccination after evading immunisation in school
Delaying or refusing some or all vaccines for your child puts their health and life at risk, this is an old message that is rapidly being understood in Gombe State especially with the impressive turnout of parents bringing their children to participate in the ongoing 2025 Integrated Measles–Rubella and Polio Campaign, amongst whom is Malam Abdulkarim Bello.
Bello, a father of eight children, on Tuesday rode his nine-year-old son on his commercial motorcycle to Bolari West Primary HealthCare Centre to supervise his immunisation against measles.
Our Correspondent reports that the boy who ran away from school to evade taking the vaccine being administered to his colleagues by Community Health Workers who came to his school in Bolari West, was made to take the vaccine under the watchful eyes of his father.
Bello, a motorcyclist in Gombe said he came home to have a rest having worked for hours to earn some income to take care of his household, only to meet his son who left home earlier for school.
On probing the child, knowing full well that the school was yet to close for the day, “ I learnt that he ran away from school just to evade taking the vaccine.
“ I had to suspend my job and bring him here (to Bolari PHC) to get him vaccinated under my supervision.
“I am doing this because I don’t want to see him sick, I heard over the radio that the vaccine is available and good for them, that’s why I brought him.
“I brought him because his running away from school is like running away from what will protect him.
“As his father, I have the right to ensure that he is healthy because his elderly ones had also taken the vaccine,” he said.
He said with the damage that measles and other children-related illnesses had done to children, “I will not allow my son to reject the vaccine that should protect him against such life-threatening illness.”
Bello urged parents, particularly fathers to support the exercise by bringing their children out for vaccination as a way of protecting them from childhood killer diseases.
Bello’s conviction about the relevance of vaccines in improving the health of his children, has highlighted the positive role of the media in efforts at boosting the health of children in the state while reducing infant mortality.
Gombe father submits son for measles vaccination after evading immunisation in school
News
Police arrest soldier, vigilante commander over ritual killing in Adamawa

Police arrest soldier, vigilante commander over ritual killing in Adamawa
By: Zagazola Makama
The Police Command in Adamawa has arrested a serving soldier and a vigilante commander for allegedly killing a woman for ritual purposes in Mubi North Local Government Area of the state.
Sources told Zagazola Makama that the arrest followed a distress call received by the Divisional Police Officer (DPO) of Mubi North at about 12:00 p.m. on Oct. 21, reporting that an unidentified female corpse was found behind the Adamawa State University fence with multiple stab wounds.
“On receipt of the report, the DPO led a team of detectives to the scene, took photographs, and evacuated the corpse to the Federal Medical Centre, Mubi, for autopsy,” the sources said.
According to the sources , preliminary investigation led to the arrest of one Private Tanko Salihu, attached to 93 Battalion, Ada Barracks, Takum, Taraba State, and one Yahaya Idi Gadzama, a vigilante commander in Mubi North.
The police said both suspects confessed during interrogation to conspiring and killing the woman for ritual purposes.
The sources said that the Commissioner of Police, CP Dankombo Morris, has directed that the case be transferred to the State Criminal Investigation Department (CID) for discreet investigation and prosecution.
He condemned the heinous act and assured residents of the command’s commitment to bringing all perpetrators of crime and criminality to justice.
Police arrest soldier, vigilante commander over ritual killing in Adamawa
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