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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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USAID, SON Partner to Reduce Lead Poisoning and Protect Nigerian Children

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USAID, SON Partner to Reduce Lead Poisoning and Protect Nigerian Children

By: Michael Mike

The United States Government through the U.S. Agency for International Development (USAID) and the Government of Nigeria, through the Standards Organisation of Nigeria (SON), have agreed to collaborate on mitigating lead poisoning in the country.

By this arrangement, they plan to enhance surveillance, regulation, and enforcement of standards related to consumer goods and paints in Nigeria.

Lead can affect individuals of any age, but children are particularly vulnerable due to their behavioral patterns and susceptibility to toxicity at lower exposure levels.

Globally, an estimated one-third of children have blood lead concentrations that impair cognitive development and contribute to learning disabilities and attention deficits. A 2011 survey by the U.S. Centers for Disease Control and Prevention revealed that unsafe mining and ore processing are the leading causes of lead poisoning in Nigeria.

USAID/Nigeria Mission Director, Melissa Jones in a meeting with SON Director General Dr. Ifeanyi Chukwunonso Okeke, said: “USAID is committed to leading the Government of Nigeria’s mitigation efforts to save Nigerian children from further risk of lead exposure.”

A statement on Thursday said USAID will provide technical assistance to SON to raise awareness about the safe use of products that contain lead, support Nigeria in joining the Global Alliance to Eliminate Lead Paint (Lead Paint Alliance), and aid SON in enacting legislation to identify lead-containing products and its manufacturers. SON will lead engagement with other federal agencies working on lead removal in high-risk communities.

SON Director-General Dr. Okeke said that to limit lead in consumer goods and paints, SON adopted global and regional standards prohibiting the production and importation of paint products with lead concentration beyond 90 parts per million.

In April 2024, SON will participate in the United States and Nigeria Bi-National Commission meeting, contributing to technical discussions on policy framework, regulation, and sensitization on lead mitigation in Nigeria.

USAID, SON Partner to Reduce Lead Poisoning and Protect Nigerian Children

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FG Asked to Include Sign Language in Education Curriculum

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FG Asked to Include Sign Language in Education Curriculum

By: Michael Mike

The Federal Government has been advised to include sign language in the nation’s education curriculum.

The call was made on Thursday by a
Non Governmental Organisation, Beta Nigeria at a stakeholders meeting in Abuja.

The Federal Lead Beta Nigeria Campaign (BNC), Abdulsalam Badamasi, made the call while taking questions from news men on Thursday in Abuja. Where various Non Governmental Organisations (NGOs), and other stakeholders came together to strategise on the best way to advocate for improved education in Nigeria.

Badamasi who took questions from newsmen after the event said they only want to amplify the voices of existing NGOs in the education sector. And ask for a curriculum review that will accommodate excluded persons.

Responding to the demand by the Disability Rights Advocate, Janet Talbat, that sign language be included in the nation’s education curriculum, he said: “Part of the performance bond that the (23 agenda) has something to do with review of curriculum and I think that’s the opportunity where we can put this request into place. And of course we are going to make sure that we put the issue of exclusion in the front burner so that everybody can be able to put in and support the excluded persons in the education conversation

He also said: “We are looking at a more improved advocacy for education through increased advocacy for education resources. We are bringing in new voices and in the process we are going to ensure that we call on our politicians, service providers, we will also call on partners and others to come together and see how we can increase Nigeria’s commitment and investment to education to a certain level.”

Maryam Uwais, who was the Special Advisor to President Muhammadu Buhari on Social Investments, advised Beta to be cautious of the people’s culture and religion in their campaign to bring more children and out of school children back to school.

She noted that: “The approach to engage in this issues is critical; when for instance we give the impression that Islamic education is not education is going to alienate the people who will want to bring the children into formal education. So we need to find words, the sensitivity, the culture and bring it into our own advocacy and campaign to engage with them and make them understand that it is just a different kind of education and that it’s critical for the children to go and thrive in this world.

Speaking on the importance of formal education, she said, “Today’s context insists that we must have the numerics and the alphabets. And a good understanding of that if we are going to even have skills. We need to sell our products in the market.

“So if we leave our children to just one form of education then they are going to be the ones that have been left out behind. There is so much to gian from formal education because the children will people to fall back to, they will build networks. A few year of formal education make a lot of difference in the life of a girl child, her family and her community.”

Janet Fasatan Talbat of Disability Rights Advocate (Ability Plus Initiative), used the opportunity to call on the organisers to convey her demand of including sign language in the nation’s basic education curriculum to the Minister of education to enable the deaf and those who can speak to communicate with ease.

She said: “As a deaf person I went to a primary school without sign language Teachers and today I have children who are going to school (without sign language teachers); we cannot communicate effectively because they are not being taught sign language. Please when you meet the Minister tell him to include sign language in our educational curriculum.”

FG Asked to Include Sign Language in Education Curriculum

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NAF obliterate scores of Bandits in Tsafe, Zamfara

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NAF obliterate scores of Bandits in Tsafe, Zamfara

By: Zagazola Makama

The Nigerian Airforce have naturalized scores of bandits in damaging airstrikes in Tsafe Local Government Area of Zamfara state.

Military sources confirmed to Zagazola Makama that the airstrikes were conducted
in two locations on Wednesday March 27, 2024, at Magazu Village, Gidan Giye and Kachallah Hassan Nabamu camp, in Tsafe LGA.

Sources said that the gunbattle began with ground troops of Operation Hadarin Daji who repelled the bandits as they attempted to infiltrate Gidan Giye in Tsafe. After their defeat by the the troops, the bandits immediately called for reinforcement.

Soon, the bandits started converging at Tabanni, Magazu and Kachallah Hassan Nabamu villages in an efforts to carry out attacks in Tsafe from different front.

The sources said that NAF assets was detailed to conduct aerial patrols where its identified the terrorists moving in a large convoys of about 50 motorcycles conveying two fighters around Magazu.

The sources said that the attack aircraft delivered at least four full packages of shawarma, Zobo and Sausages, which scored a divaststing hits, leading to the neutralization of scores of the fighters.

The sources said that the surviving bandits were visibly seen scampering for safety in different directions while the strike was taking place.

The aftermath of the strikes later revealed the obliteration of almost 37 motorcycles and the terrorists on them while dead bodies were seen all over the places at Kachallah Hassan Nabamu camp in Tsafe.

Zagazola understands that some of the bandits leaders and fighters are currently at Asola village for a condolence visiting following killing of their fighters by the troops of Operation Hadarin Daji.

NAF obliterate scores of Bandits in Tsafe, Zamfara

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