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Politicians Hoarding New Naira Notes – Emefiele

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Politicians Hoarding New Naira Notes - Emefiele

Politicians Hoarding New Naira Notes – Emefiele

By Halima Abdulkadiri

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has accused some politicians of hoarding the redesigned naira notes.

Emefiele noted that the mop-up of notes by politicians has contributed to the lengthy queues at banking halls and automated teller machines (ATM) as citizens struggle to lay their hands on the new naira.

Emefiele made the remarks while briefing the diplomatic community on recent monetary policy decisions of the CBN on Tuesday in Abuja.

“The CBN has also noticed that some politicians are buying the new notes and storing them for political purposes,” he said.

The CBN boss said there was tremendous tension and elevated agitation by leaders who should be calming frayed nerves by the citizens.

“We believe that a large proportion of these agitations are staged and sponsored propagandas or an exaggeration of reality,” he said.

RELATED STORY: ONDO: Naira scarcity protest hits, Akure, Owo, Ondo Town

“No doubt that there are pockets of pressure in some areas, the CBN is working hard to shift resources to those areas in order to ease the tension.”

Speaking on the benefits of the currency redesign policy, the governor said inflation has started to reduce in the country.

Citing data from market sources, he said the price of ram has decreased from N75,000 to N50,000 since the policy was introduced.

“The policy is typically expected to cause deflation in the market as less cash holding reduces currency outside banks and retards money circulation,” Emefiele said.

“The accompanying decline in money supply will thus slow the pace of inflation.

“As you can see, we have started to witness inflation trending downwards, following general price stability in almost all genres of markets including for goods and financial products.

“For instance, analysis shows that an effective implementation of the policy could by itself scrape four percentage points off the current level of inflations as it steadily slows inflation rate to about 18.0 percent by mid-2023.

“This is quite achievable, as data from our market sources indicate that the prices of grains and key staples, around Suleja and Lambata markets for instance, have generally been on the downward trend since the beginning of the policy.

“The price for soya beans has dropped from N30,000 to N22,000. Maize from N18,000 to N16,000. The price of a bull fell from N400,000 to N330,000 and from N75,000 to N50,000.”

Politicians Hoarding New Naira Notes – Emefiele

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FG Intervention Programs Aim to Benefit All Nigerians, Says Minister

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FG Intervention Programs Aim to Benefit All Nigerians, Says Minister

Alhaji Muhammad Idris, Minister of Information, has affirmed that the Federal Government’s intervention programs are designed to benefit all Nigerians.

Speaking during a sensitization event on the Renewed Hope Agenda, President Bola Tinubu’s administration’s policy framework, in Yola on Thursday, Idris emphasized the wide-reaching nature of these programs. Represented by Rhoda Maina, Head of the Federal Information Resource Center in Yola, the minister outlined various initiatives aimed at improving citizens’ lives.

These initiatives include the disbursement of over N2.9 billion for a student loan scheme, empowerment programs, and the Digital and Creative Enterprise Program. Additional efforts focus on consumer credit, a natural gas initiative, housing, Nano business support, and the National Youth Talents Export Program.

Mr. Jonah Agye, Director of the National Orientation Agency (NOA) in Adamawa, expressed the agency’s readiness to collaborate with federal and state agencies to promote these initiatives at the grassroots level. He urged participants to spread the word in their communities and encouraged public support for government policies.

In his remarks, Mr. James Iliya, Adamawa State Commissioner for Information and Strategy, expressed gratitude to the federal government and President Tinubu for the interventions. He urged beneficiaries to make the most of these opportunities to improve their lives. Iliya also noted that Adamawa State aligns with the Federal Government’s policies to ensure its residents benefit from these initiatives.

Alhaji Idris Shuaibu, chairman of the event, commended the Federal Government’s efforts and advised those implementing the programs to ensure that they reach the most vulnerable citizens.

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Empowered for a New Life: UNFPA Supports 50 Rehabilitated Fistula Survivors in Gombe

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Empowered for a New Life: UNFPA Supports 50 Rehabilitated Fistula Survivors in Gombe

Empowered for a New Life: UNFPA Supports 50 Rehabilitated Fistula Survivors in Gombe

The United Nations Population Fund (UNFPA) has empowered 50 rehabilitated Vesico Vaginal Fistula (VVF) survivors in Gombe State through a collaborative program with the Government of Norway.

At the graduation ceremony held in Gombe on Thursday, Dr. Bajowa Lanre, UNFPA’s Sexual Reproductive Health Analyst, reiterated the agency’s commitment to eradicating obstetric fistula, a debilitating condition that occurs during childbirth. He highlighted that UNFPA continues to provide life-saving surgeries for women affected by fistula and severe perinatal tears in Nigeria, working towards a future where maternal mortality and related conditions are eliminated.

Obstetric fistula, an abnormal connection between the rectum and the vagina, is often stigmatized in communities, bringing shame and social isolation to survivors. “No woman should endure this experience,” said Lanre, emphasizing the physical and emotional toll it takes on women and families.

The empowerment initiative, which equips survivors with vocational skills and tools, is seen as key to reintegrating them into society. Sewing machines, grinding machines, popcorn processing equipment, and transportation stipends were provided to help the women become economically self-sufficient.

Gombe’s Commissioner for Women Affairs and Social Development, Ms. Asmau’u Iganus, expressed gratitude for the initiative. Represented by Mrs. Abu Hassan, she noted that the program would enhance the survivors’ livelihood and boost their social and economic wellbeing.

Dr. Musa Issa, Executive Director of the Fistula Foundation Nigeria, praised the collaboration between UNFPA, the Norwegian government, and the state, calling the empowered women role models who can inspire others in their communities.

One of the beneficiaries, Mrs. Safiyanu Moses, shared her journey from being ostracized due to the condition’s effects to regaining hope for a brighter future. “This intervention has transformed my life,” she said. “I will use this empowerment to help my family and community while raising awareness about treatment for others.”

The program aims to foster support systems for fistula survivors and reduce the stigma associated with the condition in Gombe State and beyond.

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WAFU Qualifiers: Mailantarki Care FC beat Nigeria’s Flying Eagles 1-0

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WAFU Qualifiers: Mailantarki Care FC beat Nigeria’s Flying Eagles 1-0

Nigeria’s Flying Eagles …

The Nigeria National team U-20 (Flying Eagles) suffered a defeat in the hands of Mailantarki Care FC in one of its series of preparatory games on Wednesday in Abuja.

The reigning Champions of the 2024 International Youth Championship in Denmark (Dana Cup) produced an all-around performance against the Nigeria National team outfit, the Flying Eagles at the FIFA Goal Project pitch of the MKO Abiola Stadium.

Coach Aliyu Zubairu’s U-20 team began preparation last week ahead of the upcoming WAFU Championship scheduled in Togo, where the representatives of the zone in the 2025 U-20 nations cup will emerge.

Sensational wing wizard Miko Dalha scored the only goal of the game following a delightful footwork before smashing into the near post before the break.

The host could have equalized from the spot deep into the game just for Mailantarki goalie Abbati Muhammed to punch away the penalty kick. However, the Flying Eagles defeated Water FC 1-nil in its first game courtesy of Bayelsa United forward Rabiu Abdullahi.

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