Nigeria needs new Constitution, not amendment – Okowa – Newstrends
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Nigeria needs new Constitution, not amendment – Okowa

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Delta Governor Dr. Ifeanyi Okowa, on Wednesday, said Nigeria needed a new Constitution, not an amendment to accommodate emerging issues of good governance and greater interest of Nigerians.

Okowa stated this when he received on a courtesy visit, the Senate Sub-Committee on review of the 1999 Constitution led by Senator James Manager at Government House, Asaba.

He said that a new Constitution for the country had become imperative in view of observed lacunas in the 1999 Constitution and called for the insertion of a clause to allow for the re-writing of the Constitution while it would continue to be in operation until a new one was ready.

“There is no doubt that there is still a lot to work on in our Constitution to have a near-perfect document, and I know that the National Assembly has continued over time, to cause some of the amendments to be.

“I thank God that those sent here are familiar with the zone; so, when the people truly speak they would understand.

“But, I also wished that some persons from other zones actually had the opportunity to come down here to hear the voices of our people directly because sometimes we do not understand the extent of the pains that people of the Niger Delta truly suffer in our nation.

“We believe in one Federation; we believe in the unity of Nigeria, but we will continue to ask for very strong equity in our Federation as a people and I know that the people will really voice out their opinion at the public hearing.

“We know that some amendments were made recently but on a general note, we are also aware that the Constitution itself appears to have just been hurriedly put up just before the 1999 elections and handed over.

“I wished it was possible to start the whole process again and to re-write the Constitution and also believe that there may be a need for us to look very closely on ways and means of re-writing the Constitution as a new document even when the current Constitution exists,’’ Okowa said.

He recalled that the process of reviewing the 1999 Constitution started in the 7th Assembly, but that it was not possible to push it forward because of certain disagreements at that time.

Reiterating the necessity of a new constitution for the country, he said “if we look deeply as lawmakers we would be able to create a window for that purpose because every year or in every assembly, we continue to engage ourselves in one amendment or the other.

“I think that it is possible to insert a clause that will enable us to truly rewrite the constitution while the current constitution may be operational until the new one is brought into force.

“In that case, we would not be struggling year-in-year-out trying to amend one clause or the other because there are challenges when it comes to that.’’

The governor urged the National Assembly to look into power devolution to the states, review of revenue allocation formula, oil derivation and state police in the amendment to enable Chairman of Revenue Mobilisation Allocation and Fiscal Commission to lay revenue allocation formula proposals directly before the lawmakers.

“As a state, we believe that the way the federal structure is in terms of governance, the powers at the federal level or what you call the powers of the Presidency are too weighted against the rest of the structures in the state or what you call the sub-national governments.

“We believe that the exclusive list ought not to be as it is, because there are many things in that place that could truly be in the concurrent list.

“This is because the sub-national governments are much closer to the people and understand truly the pains and needs of their people and they are more likely to affect development changes that will be impactful on their people,” he stated.

He regretted that no review had been made to the revenue allocation formula for the past 24 years whereas it was supposed to be reviewed every five years.

Okowa said that oil-producing states had continued to struggle for the 13 percent derivation fund, and remarked that oil was a wasting asset while the environment where it was being extracted had continued to be polluted and degraded.

“The 13 percent is actually too low and we believe it should be reviewed to 50 percent as it used to be in the past or allow the states to own the assets and pay tax to the centre as applicable in other climes.

“We are also fully aware that our country is going through tough times with the current insecurity pervading our nation.

“We believe in the Nigerian Police but to fully secure the land there is a need for states to have their own police and all the governors of this nation are in support of that.

“The Nigerian police have been stretched beyond the limit and to complement the Federal Police Force there is a need for the states to have their own police,” he added.

He assured the Committee of the support of the state when recommendations were made from the National Assembly.

“We are glad that you have come to listen to the people and we hope that when you also speak within the larger Committee that those voices which do not understand the pains of our people will not suppress the voices of our people.

“It is in the interest of the country that we provide more funds for the development of oil-producing states and for them to take care of the degradation of their environment,” the governor stated.

Earlier, Senator Manager had said that the Committee which comprised Senators from Edo, Bayelsa, and Delta was in the state to conduct a two-day public hearing on the amendment of the 1999 Constitution.

He said that aside from the Spiritual Books, the Constitution was the most important book for any country.

Manager restated that Southern Senators had endorsed all the resolutions made by the Southern Governors in the “Asaba Declaration’’ of May 11.

“The amendment of the Constitution is not what can be done by the National Assembly alone, but it involves states’ Houses of Assembly and other stakeholders.

“The document is never a perfect one; therefore, amendments are inevitable from time to time and in tune with current realities.

“The public hearing will afford the Committee the opportunity to hear from the people and collate their views for onward processing by the Senate,” he stated.

 

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Currency in circulation now N4.8tn – CBN report

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Currency in circulation now N4.8tn – CBN report

Currency in circulation has reached an all-time high of N4.8 trillion as of November 2024, recording over seven per cent increase from the previous month.

Also, currency outside banks grew significantly in the same month hitting an all-time high of N4.6 trillion from the N4.2 trillion in the month of October.

These figures were contained in the money and credit supply data from the Central Bank of Nigeria (CBN).

The currency in circulation is the amount of cash–in the form of paper notes or coins–within a country that is physically used to conduct transactions between consumers and businesses.

It represents the money that has been issued by the country’s monetary authority, minus cash that has been removed from the system.

Similarly, currency outside a bank refers to cash held by individuals, businesses and other entities that is not stored in banks.

The currency outside the bank represents about 96 per cent of the currency in circulation.

Nigerians have in recent times been facing acute cash shortage with banks limiting daily withdrawal at Automated Teller Machines (ATMs) to N20,000 irrespective of the number of accounts held by an account owner.

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According to the latest data, the currency in circulation grew by seven per cent to reach 4,878,125.22 from 4,549,217.51 in October.

Currency in circulation has grown steadily in the outgoing year 2024 with over one trillion naira added to cash in circulation after starting the year with N3.65 trillion in January.

In February, the currency in circulation slightly increased to N3.69 trillion representing an increase of N43 billion or 1.18 per cent from the January figure.

March also saw an appreciable increase to N3.87 trillion while it further increased to N3.92 trillion in the following month of April.

The growth trajectory continued in May with the currency in circulation increasing slightly to N3.97 trillion, an increase of N42 billion or 1.07 per cent while it reached an all-time high of 4.04 trillion, an increase of 2.11 per cent from May.

The July figure also rose marginally with the currency in circulation settling for N4.05 trillion before growing to N4.14 trillion in August and N4.43 trillion in September and N4.5 trillion in October.

In the same vein, currency outside banks grew from N4.2 trillion in October to N4.6 trillion in November, showing increasing preference for other means of storing outside bank deposits.

Economist, Dr. Paul Alaje attributed the development to the expanding money supply, adding, “Money supply is expanding but this may not necessarily be in cash. As it is expanding, it will necessarily induce inflation. But you can’t blame the people. People must look for money. How much was bottled water last year, how much is it today? All of this will induce inflation. If you now ask, what is the cause of inflation? Is it money supply itself or a devaluation policy? It is a devaluation policy. Money supply is an offshoot. So the Central Bank is raising interest rates to actually reduce money supply but the more they try the more money supply expands.”

He stated that the floatation policy of the CBN has created inflation, adding, “It is like chasing one’s tail and I don’t know if you are going to catch it.”

Currency in circulation now N4.8tn – CBN report

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Tinubu not telling Nigerians the truth, says Sule Lamido

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President Bola Ahmed Tinubu

Tinubu not telling Nigerians the truth, says Sule Lamido

President Bola Tinubu has been accused of not being forthright about the true state of Nigeria under his administration.

Former Jigawa State Governor and senior Peoples Democratic Party (PDP) member, Sule Lamido, made the accusation while speaking on the BBC Hausa programme Gane Mini Hanya.

Lamido criticized both Tinubu and former President Muhammadu Buhari for what he described as a lack of transparency in governance.

“Buhari’s and Tinubu’s governments are not being transparent with Nigerians unlike during the time when PDP was in power where everything was transparent and open to all Nigerians,” Lamido said.

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He accused the two administrations of relying on propaganda rather than providing citizens with accurate information.

Lamido also expressed concerns over President Tinubu’s recent loan requests, questioning the logic behind them. “If Nigerians are being told the truth then there is nothing wrong with that, but how would you budget N30tn, generate N50tn and then request loan when you have a surplus of N20tn,” he said, referencing last year’s budget.

He described the situation as “reckless” and “selfish,” adding, “This recklessness and clear-cut selfishness is not done anywhere in the world, but yet you find (some) Nigerians supporting it. Visit social media and see how APC is being criticised, being referred to as calamity, yet you find some protecting it.”

Tinubu not telling Nigerians the truth, says Sule Lamido

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Nigeria Customs Service begins 2025 recruitment [How to apply]

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Nigeria Customs Service begins 2025 recruitment [How to apply]

The Nigeria Customs Service (NCS) has announced the commencement of its recruitment exercise, assuring Nigerians that the process is entirely free and fair.

The agency has cautioned the public to be vigilant against scammers who may attempt to exploit unsuspecting applicants during the recruitment period.

Applications are invited for positions in the Superintendent, Inspector, and Customs Assistant cadres as part of the Service’s plan to recruit 3,927 officers in 2025.

This initiative is aimed at enhancing trade facilitation and supporting Nigeria’s economic recovery efforts.

“Our recruitment is entirely free and fair. At no stage do we charge fees. Anyone requesting payment is a scammer,” the agency emphasized, urging applicants to be wary of fraudulent schemes.

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The NCS outlined eligibility criteria, stating that applicants must be Nigerian citizens by birth, possess a valid National Identification Number (NIN), and have no criminal record or ongoing investigations.

Academic qualifications for the three cadres are as follows:

Superintendent Cadre: A university degree or Higher National Diploma (HND) along with an NYSC discharge or exemption certificate.

Inspectorate Cadre: A National Diploma (ND) or Nigeria Certificate in Education (NCE) from an accredited institution.

Customs Assistant Cadre: At least an O’Level certificate (WAEC or NECO).

In addition to these qualifications, the NCS stressed that all applicants must be physically and mentally fit, providing evidence of medical fitness from a recognized government hospital.

Nigeria Customs Service begins 2025 recruitment [How to apply]

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