Tinubu’s Government Inherited Dead Economy — Soludo

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Tinubu’s Government Inherited Dead Economy — Soludo

The 63-year-old ex-CBN chief accused the apex bank of illegally printing money.

 

Governor of Anambra, Professor Charles Soludo

 

Governor of Anambra State, Prof Charles Soludo, has stated that the President Bola Tinubu administration inherited a dead economy from its predecessors.

Soludo made this assertion on Thursday while commenting on policies of the Central Bank of Nigeria (CBN) in an interview on Channels Television’s Politics Today programme.

“This economy inherited a dead economy. From a macroeconomic point of view, this government inherited a dead horse that was still standing and people didn’t know it was dead,” the former CBN governor stressed.

“Because you can’t pour water on a rock and not expect the rock not to be wet, there are humungous challenges and I think it is important that Nigerians understand this and it is not a tea party.”

Soludo, while explaining his role in putting curbs on monetary structures when he headed the apex bank between 2004 and 2009, accused the CBN of illegally printing money.

“We must realise where we are coming from,” he said.

“We sat here in this country and  saw  the monetary authorities literally printing money, illegally I must say, because I superintended the development of  drafting of the 2007 Bank Act.”

“And to prevent us from where we are today, that is why we had an explicit clause there that prevents Central Bank  from lending recklessly to the Federal Government.

“That you can not grant to the Federal Government more than 5 per cent of the previous year’s actual revenue.”

He maintained that the CBN failed to comply with the 2007 CBN Act, adding that the current monetary trajectory was avoidable in the first place.

“We all sat here and saw how the CBN brazenly, illegally violated that law year after year and kept on printing money,” the governor said.

“When you continue to credit the account of government, one trillion people shouted, two trillion,10 trillion, 15 trillion and 20 trillion and we kept going.”

Source: Channel TV

Yahaya Bello Freezes All State Govt Accounts

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Yahaya Bello Freezes All State Govt Accounts

The governor said the instruction is with immediate effect.

 Kogi State Governor, Yahaya Bello

 

Barely a few days after berating his aides over what he described as poor misrepresentation of his administration, Governor Yahaya Bello of Kogi State has directed the freezing of all state and local government accounts with immediate effect.

In a statement on Thursday, the Commissioner for Finance, Asiru Idris, said no imprest or any form of payment should be made to anyone from Government Account henceforth.

According to the statement, all “standing orders and investment instructions are hereby cancelled forthwith”.

“All Kogi State and Local Government Accounts are hereby frozen with effect from today, Thursday 22nd November 2003.”

Bello, who is at the end of his eight-year double tenure, is expected to hand over power to the Governor-Elect, Usman Ododo, in January 2024.

Ododo, an ex-Auditor General of Local Government in Kogi under Bello, and the All Progressives Congress (APC) candidate had won the November 11, 2023 Kogi State Governorship Election.

Source: Channel TV 

Nigeria To Offer China, Romania Students Scholarship

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Nigeria To Offer China, Romania Students Scholarship

Scholarships Students

The Nigerian government says it is at the verge of re-enacting and reciprocating the bilateral education agreement with China and Romania, by offering scholarships to their students.

Minister of Education, Professor Tahir Mamman uncovered this at the pre-takeoff instructions of respective training understanding scholars going to Morocco for the 2023/2024 scholastic meeting.

The Minister noticed that regardless of the Worldwide monetary implosion, the quantity of the advancement accomplices keen on working with Nigeria, have expanded and many presently offer scholarship to Nigerians.

The Minister recorded the dynamic nations to incorporate; Hungary, China, Algeria, Romania, Morocco, Serbia, Mexico, Egypt and Venezuela, while others not extremely dynamic are; Macedonia, Poland, South Korea, Greece, Japan and Turkey

The Instruction Minister asked the scholars leaving on Nigeria to be of good ways of behaving and stay away from acts equipped for breaking the respective schooling concurrence with their country.

15 small business owners in Nigeria get N75 million from Google’s Hustle Academy

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15 small business owners in Nigeria get N75 million from Google’s Hustle Academy 

Google’s Hustle Academy has awarded a combined N75 million to 15 small and medium-sized businesses (SMBs) in Nigeria. 

The SMBs will also get mentorship and regular support from Google’s initiative. 

A statement from Google on Thursday read: 

“Alongside the graduation, 15 SMBs have been chosen to receive support from the 75 Million Naira Hustle Academy Fund. This initiative aims to provide a combination of financial assistance, mentorship, and business tool access to some of the most promising Nigerian SMBs.” 

 

List of Recipients 

The recipients represent various industries and demonstrate the creativity of Nigerian entrepreneurs:

1. Ifeoma Augusta Anselem – Rae’s Clothing  

2. Femi Bolaji – Wauley Projects Limited  

3. Nafisa Abdulrazaq Sabo – Pinch N’ Dash 

4. Funmilola Moronke Agbayewa – Segunfunmi foods Nigeria Limited  

5. Chigozie Bashua – The Nut Place Limited 

6. John Samuel Andefiki – Kita Farm 

7. Hussaini Aliyu Baba – Lead Way Family Poultry  

8. Aminu Abdulkarim – A.A.K. Shoes 

9. Constance Ufuoma Edesiri – Stance Fashion Empire 

10. Chikere Onyinyechi Breakthrough – Clozetsales 

11. Anita Aletor – Rotela Business Synergy 

12. Ojo Femi Christopher – Foodlane ventures 

13. Angela Jidechukwu Nwabueze – Jelapetra Farms Ltd 

14. Eniola Robert – Ennie Wears  

15. Blessing Akpan – Inyene Agro Processing Factory Ltd 

Graduation ceremony for 5300 SMBS 

Also, it was announced that 5,300 small and medium-sized enterprises (SMBs) successfully graduated from Google’s Hustle Academy, demonstrating their dedication to improving their business acumen and expertise. 

Since the program’s inception in 2022, more than 10,300 entrepreneurs have taken part, and the commencement ceremony signifies the program’s prolonged influence. 

Developed to tackle the unique obstacles encountered by SMBs in Africa, the Hustle Academy programme provides these companies with strategic alliances and operational support.

As an expanding community of businesses committed to ongoing development and learning, this year’s graduation builds upon the momentum established with last year’s 5,000 graduates.

Quoted in the statement, Google West Africa Country Director, Olumide Balogun, said: 

“The passion and resilience shown by these SMBs are truly inspiring. The Hustle Academy is a testament to what focused training and resources can achieve. We are not just celebrating their graduation today; we are recognizing their potential to reshape and invigorate the Nigerian business landscape.” 

Tinubu Appoints Akawor As RMAFC Federal Commissioner

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Tinubu Appoints Akawor As RMAFC Federal Commissioner

The confirmation is subject to the approval of the Senate

President Bola Tinubu

 

President Bola Tinubu has approved the appointment of Ambassador Desmond Akawor to serve as a Federal Commissioner of the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC).

The confirmation is subject to the approval of the Senate, the presidential spokesman said in a statement on Thursday.

“The new RMAFC Federal Commissioner, who represents Rivers State, is being appointed following the tragic demise of the immediate past RMAFC Federal Commissioner from Rivers State, Hon. Asondu Wenah Temple earlier this month,” 

the statement read.

The President urged the new Federal Commissioner to deploy his robust experience across tiers of government toward the comprehensive reformation of processes that will ensure the most efficient and productive utilization of allocations to all three tiers of government in Nigeria.

Prior to the latest appointment, Ambassador Akawor served in various capacities as Nigeria’s Ambassador to South Korea; and Minister of State of the Federal Capital Territory (FCT).

He also served as the Sole Administrator of the Greater Port Harcourt Development Authority; Chief Executive Officer of the Niger Delta River Basin Development Authority, and Executive Director, the Nigerian Ports Authority (Engineering & Technical Services).

Source: Channel TV

Police Capture Seven Over Kano Protest

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Police Capture Seven Over Kano Protest

Gumel consoled the general public of security efforts set up, encouraging inhabitants to continue with their legal exercises.

The Kano State Commissioner of Police, Husaini Gumel.

 

In the wake of the Court of Appeal’s decision that affirmed the sacking of Governor Abba-Kabir Yusuf from the New Nigeria Peoples Party (NNPP), Kano State witnessed a surge of public unrest.

The Kano State Police Order affirmed the capture of seven people straightforwardly engaged with the protest, revealing insight into the circumstance.

Kano State Police Commissioner, Mr. Hussaini Gumel, in an explanation on Wednesday night, uncovered the subtleties encompassing the captures. He expressed, "We have prevailed with regards to halting the nonconformists and we have captured seven of them.

"We have conveyed Army cops in the area; we have since started a serious investigation and we will refresh you at the appointed time."

Gumel consoled the general public of security efforts set up, encouraging inhabitants to continue with their legal exercises.

He focused, "I'm interesting to occupants not to hold back to answer to the closest security outfit any individual or gathering taking part in any type of protest in and outside the city for brief activity."

The fights, drove by displeased appealing of the NNPP, appeared in the roads of Kano. Their response was set off by the appeal court's judgment bringing about the expulsion of the Governor, igniting dispute among appealing of the party.

The circumstance has stayed tense in the state, provoking elevated watchfulness from policing security organizations to prevent any further disturbance.

This improvement has made way for an unpredictable political environment in Kano, with residents enthusiastically anticipating further updates and potential ramifications coming about because of the Governor's excusal.

Before very long, the emphasis will be on the reaction from political circles and people in general as the outcome of the court administering keeps on unfurling, possibly reshaping the political scene of Kano State.

My Name Deserves To Be In Guinness World Records – Tinubu

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My Name Deserves To Be In Guinness World Records – Tinubu

The President quipped that he was determined to actively pursue the inclusion of his name in the revered Guinness World Records (GWR).

President Tinubu speaks at the 10th German-Nigerian Business Forum.

 

President Bola Tinubu says his past exploits paved the way for his emergence as president and that he deserves to be listed in the Guinness World Records (GWR).

Speaking to a group of investors on Tuesday at the 10th German-Nigerian Business Forum, Tinubu credited his success to overcoming investment obstacles in Nigeria.

The President said noteworthy accomplishments should be acknowledged and quipped that he was determined to actively pursue the inclusion of his name in the revered Guinness World Records (GWR).

“If you have the fear of various hurdles, just look at me — I am from the private sector, one of you. I was trained by Deloitte and worked for ExxonMobil until I got to become the treasurer of the corporation. So, define corporate governance in any way, and I am in it,” he said.

The former Lagos governor also stated that during his eight-year tenure, he successfully transformed the state from ground zero to become the fifth-largest economy in Africa.

“I governed Lagos for eight consecutive years and, today, I can brag, beat my chest that Lagos is on the horizon; it’s the fifth-largest economy in Africa from zero,” Tinubu said.

“That is a track record that I can use to assure you and that is the track record that got me into this office as the President of the Federal Republic of Nigeria.”

Emphasising his commitment to reforms, he humorously remarked that if not recognised, he would strive to insert himself into the Guinness Book of Records for his achievements as Nigeria’s president.

“Nigeria voted for me for reforms and from day one of my inauguration, I started the reforms. To me, if you didn’t mention me in the Guinness Book of Records, I’d strive to find a way to insert myself because I did it without expectation,” he said.

Source: Channel TV