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Emefiele orders banks to make N200 notes available to customers



Emefiele orders banks to make N200 notes available to customers

Emefiele orders banks to make N200 notes available to customers

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has directed commercial banks to adhere to President Buhari’s directive to make available N200 notes for circulation.

The CBN governor stated this when he fielded questions from State House correspondents after a closed door meeting with President Muhammadu Buhari on Thursday in Abuja.

Emefiele said he met with about 15 commercial banks and directed them to ensure that the old N200 note remained a legal tender from now till April 10.

He explained that the meeting with the bank executives was to ensure sufficient supply of the old N200 notes to alleviate the sufferings of Nigerians.

“The truth is that we are all servants. We are serving Nigerians. As far as we are concerned the Attorney General has spoken on this matter and the president has sealed the whole issue this morning in his broadcast.

RELATED STORY: Residents of Nasarawa laud approval, use of old N200 notes till April 10

“I think I can only just appeal to Nigerians, let’s allow this policy to work.

“This policy is one policy that goes to reduce the problem of corruption and illicit financial flows; this policy goes to resolve some of the problems in the economy.

“This policy also goes to reducing the level of insecurity in the country.

“So, these three issues which are the tripod of this administration’s policy are all embedded in this policy.

“We should just allow it to work. We keep saying this, there are some temporary pains, but I can assure Nigerians that the long-term benefit to Nigeria is overwhelming and we should just give it a chance to work,” he said.

In a similar development, the Majority Leader of the House of Representatives, Ado Doguwa, who also spoke to State House correspondents after his closed door meeting with the president expressed reservations over the implementation of the naira redesign policy.

According to him, the way and manner the policy is being implemented is making the ruling All Progressives Congress (APC) unpopular towards the general elections.

Doguwa is the Chairman of the Special Adhoc Committee on Naira Redesign, Cashless Policy and Naira Swap.

He said the committee came to see the president in spite of his broadcast and his directives to the CBN governor to commend him for that but to also tell him that “It is not yet Uhuru.”

The House leader said he told President Buhari that the Committee would continue to interface with the CBN on the implementation of his directives.

He added that the Green Chamber would not hesitate to invoke the instrumentality of law to call the CBN boss to order if he derailed from implementing the directive.

“One important thing I want to stress is that Mr. President has addressed most of the issues we want to raise with him in the national broadcast this morning.

“But that notwithstanding, Mr. President allowed us to meet him believing the fact that the commiiee coming to him represents the institution of the National Assembly.

“And when you have issues to do with policies of government, you have matters that border on lives and livelihood of our people, the best institution to speak for Nigerians is this institution, the National Assembly and in this case, the House of Representatives.

“What excites us is that when we met Mr. President, he was already on ground with those agencies that have something to do with this issue of naira redesign and naira swap.

“The CBN governor was there at his instance, the representative of the Ministry of Finance was there, the AGF was also represented there, the inspector General of Police was also there,” said Doguwa.

Emefiele orders banks to make N200 notes available to customers

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CCNE Applauds Supreme Court for Releasing Local Government Funds




CCNE Applauds Supreme Court for Releasing Local Government Funds

CCNE Applauds Supreme Court for Releasing Local Government Funds

The Concerned Citizens of North East (CCNE), a non-governmental organization dedicated to promoting good governance, transparency, and accountability, has welcomed a recent Supreme Court ruling mandating the immediate release of funds earmarked for local government areas (LGAs).

The was contained in a press statement signed by CCNE’s Secretary General Babangida Inuwa Muhammad, marks a significant victory for grassroots development and governance in the region.

The Supreme Court’s decision addresses longstanding issues of fund misallocation and diversion that have impeded local development efforts.

By upholding constitutional provisions ensuring direct allocation of funds to LGAs, the court has bolstered principles of transparency, accountability, and effective governance.

CCNE views this ruling as pivotal, asserting that it empowers local authorities and strengthens the foundation for sustainable development across communities.

“This landmark decision ensures that LGAs receive the financial resources necessary for development and governance, reinforcing transparency, accountability, and good governance principles,” stated CCNE in their press release.

The organization emphasized the ruling’s potential to revitalize local governance, enabling communities to better tackle their unique challenges through empowered local authorities. CCNE called upon relevant authorities to promptly implement the court’s decision, ensuring funds are utilized judiciously to benefit residents.

“We believe this judgment will enhance LGAs’ capacity to deliver essential services, improve infrastructure, and drive socio-economic development,” CCNE affirmed.

CCNE also urged local officials to transparently and efficiently allocate funds, prioritizing projects that directly benefit residents.

They pledged to monitor the judgment’s implementation closely, collaborating with stakeholders to promote accountability and good governance at all levels within the region.

“This ruling signifies a renewed commitment to decentralization and local governance, crucial for addressing community-specific challenges,” CCNE added.

Looking ahead, CCNE reiterated its commitment to advocating for the rights and welfare of Northeastern communities, ensuring local authorities are equipped to drive sustainable development.

They affirmed their ongoing role in safeguarding community interests and fostering an environment conducive to transparent and effective governance.

However, CCNE’s support for the Supreme Court’s decision reflects a broader commitment to advancing accountable governance and empowering local communities.

By championing the efficient use of allocated funds and advocating for sustained development efforts, CCNE aims to foster a region where grassroots needs are met and local governance thrives.

CCNE Applauds Supreme Court for Releasing Local Government Funds

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Minimum Wage: Private sector committed to N57,000 – NECA



Minimum Wage: Private sector committed to N57,000 - NECA

Minimum Wage: Private sector committed to N57,000 – NECA

The Nigeria Employers’ Consultative Association (NECA), says the private sector remains committed to the N57,000 earlier proposed at the Tripartite Committee meeting on National Minimum Wage.

NECA’s Director-General, Mr Adewale-Smatt Oyerinde, in a statement on Sunday, said the amount represented 90 per cent increase in the national minimum wage.

Oyerinde said that this was notwithstanding ongoing challenges, made worst by rising interest rates, astronomical logistics cost, increasing energy tariff and multiple taxes, levies and fees.

“With organised businesses declaring over one trillion naira in combined losses and many shutting down their businesses for different reasons, while others are relocating to other climes, the ability to pay the prevailing N30,000 was already compromised.

“It will be practically impossible to guarantee enterprise sustainability and job security with the current demands of organised labour,’’ he said.

The director-general, however, said that NECA would continue to support the welfare of workers and the protection of their jobs, which could only be guaranteed by the survival of the enterprise.

Following negotiations on the national minimum wage, he urged the tripartite committee to prioritise job creation and job security.

Oyerinde said that the call was in view of the worrisome and increasing rate of unemployment in the country.

According to him, the committee should refocus its effort on protecting jobs, boost the capacity of the private sector to create more jobs and ensure sustainability and ability to pay.

He said that productivity should be a key driver of higher wages.

“According to the National Bureau of Statistics, the combined rate of unemployment and time-related underemployment as a share of the labour force population (LU2) increased to 17.3 per cent in Q3 2023 from 15.5 per cent in Q2 2023.

“In specific terms, the unemployment rate increased significantly in Q3 2023 at 5.0 per cent.

“With these figures, more efforts should be concentrated on keeping more people in employment, while government continues to implement its planned interventions in transportation, food security and general macro-economic stability,” Oyerinde said.

Minimum Wage: Private sector committed to N57,000 – NECA

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Reps seek free medicare for pregnant women



Reps seek free medicare for pregnant women

Reps seek free medicare for pregnant women

The House of Representatives has urged the Federal Ministry of Health and Social Welfare to mandate public healthcare institutions to provide free medical treatment for pregnant women during and after delivery.

The call was sequel to the adoption of a motion by Rep. Mohammed Shehu (PDP-Bauchi) at plenary on Wednesday.

They also urged the ministry to implement routine checks to ensure continuity, compliance by medical personnel, and sustainability of childbirth processes.

Moving the motion, Shehu said that the government established public healthcare institutions to provide medical services to humanity.

He added that drugs were supplied to the institutions and equipped with modern medical facilities and charged with the responsibility of handling healthcare-related matters.

Shehu said though healthcare services were not restricted to pregnant women, efforts to encourage free treatment for expectant mothers have not been fully realised.

He said that giving the fertility statistics in the country, there was need for free medical treatment for pregnant women to boost the country’s fertility rate.

“Nigeria is grappling with high disease rates, resulting in an annual maternal mortality rate of expectant mothers and children due to pregnancy complications and the polio virus.

“Further aware that government requires public healthcare institutions to have medical professionals, give adequate attention to patients, including pregnant women, during childbirth to address complications and find permanent solutions.

“There is a need for the government to prioritise policy actions aimed at improving healthcare delivery systems, particularly for pregnant women, to alleviate their hardships and boost their confidence,” he said.

In his ruling, the Deputy Speaker, Rep. Benjamin Kalu mandated the Committee on Healthcare Services and Healthcare Institutions to liaise with the Minister of Health and Social Welfare to ensure compliance.

The committee is to report back within four weeks for further legislative action.

Reps seek free medicare for pregnant women

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