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BDCs funding Boko Haram, kidnappings, says CBN governor
The Central Bank of Nigeria (CBN) has accused operators of Bureaux de Change (BDC) of funding terrorism and kidnapping in the country.
Governor of the CBN, Godwin Emefiele, stated this in Abuja on Friday after the Monetary Policy Committee (MPC) meeting.
He also vowed that CBN would not rescind its decision to ban the sale of foreign exchange to the BDCs.
Emefiele said the CBN had resolved to stop funding the BDCs in the name of stabilising the forex market.
He said, “We have decided that this will stop and it has stopped for good. It beats my imagination that Nigeria carried on with this kind of practice that tended to support illegal activities of people who are involved in graft and involved in corrupt practices.”
He also said, “We have unwittingly supported activities of those who illegally buy foreign exchange from this illegal market, carry them in aircraft out of the country and go to buy arms and ammunition and bring them back into the country and conduct crime whether it is Boko Haram, kidnapping or all sorts of nefarious activities.
“We the CBN take our country’s dollar and sell to people to go and buy arms ammunition to come and hurt us. That is what we are saying that people want us to continue to do. We cannot do that any longer.”
He told bank customers with legitimate requests for forex exceeding the official limit that “your bank will speak to us and we will give you what is even more than the limit. We will continue to monitor the banks.
“We conducted a study, one of the banks sold in one day forex to 52 people who wanted to travel. After two weeks, they went to check, 40 out of the 52 had cancelled their tickets. They will have to return the forex or we will pursue you if you are involved in this nefarious activity. We are not going to go back there again.”
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Lagos GDP hits N41tn, earns N433bn from IGR
Lagos GDP hits N41tn, earns N433bn from IGR
According to Ope George, Commissioner for Economic Planning and Budget, Lagos State’s Gross Domestic Product (GDP) has surged from N27 trillion to N41 trillion over the past four years.
George highlighted that this achievement positions Lagos as the 7th largest economy in Africa based on GDP.
At the ministerial press briefing marking the first year of Governor Babajide Sanwo-Olu’s second term, held at Alausa, Ikeja, Lagos, George emphasized the state’s significant contribution, constituting over 20% of Nigeria’s GDP.
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He remarked, “Currently, we are ranked 7th in GDP in Africa. Our trajectory demonstrates positive growth despite past challenges.”
The commissioner revealed that the state government recorded a total revenue of N433.408 billion in the first quarter of the 2024 fiscal year.
George elaborated, “Quarterly performance indicates 92% revenue realization at N433.408 billion. Recurrent expenditure reached 80%, totalling N189.624 billion, while capital expenditure achieved 54% performance at N178.728 billion. Total expenditure (budget size) stood at 65% performance, amounting to N368.352 billion.”
He further outlined the details of the approved Y2024 budget, which includes a total revenue projection of N1.880 trillion, deficit financing of N387.125 billion, capital expenditure of N1.315 trillion, and recurrent expenditure of N952.431 billion (including debt charges), maintaining capital to recurrent ratio of 58:42.
Lagos GDP hits N41tn, earns N433bn from IGR
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Three senior govt officials arrested over alleged illegal citizenship for foreigners
Three senior govt officials arrested over alleged illegal citizenship for foreigners
The Kano State government said three of its top civil servants have been apprehended for engaging in citizenship racket.
The indicted government officials were arrested by the State Public Complaint and Anti-corruption Agency.
According to the anti-graft agency, the three senior officials allegedly recommending Nigerian citizenship to illegal migrants.
Speaking to newsmen on Thursday in Kano, the chairman of the agency, Muhuyi Magaji, disclosed that the suspects collected bribes from the foreign nationals for the the illegal activity.
He alleged that the suspects planned to write letters of recommendation to the Federal ministry of internal affairs, using government letter-headed papers.
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He named the suspects as Kabiru Shehu of the ministry of information; Hassan Aminu from Office of the state Head of Service; and one AMusa Falgore, a retired staff of the information ministry.
“These are senior officials of Kano state government conniving to write fake letters recommending illegal aliens to secure Nigerian citizenship.
“We have arrested them. They are giving us useful information. We will keep interrogating them and at the end, if found wanting, they will be prosecuted.
“We will not tolerate this kind of unpatriotic action from senior government officials.
“This government abhors corruption, and we will do everything possible to ensure that anybody found neck-deep in corruption is exposed,” Mr Muhuyi said.
Three senior govt officials arrested over alleged illegal citizenship for foreigners
(NAN)
News
Group protests alleged imposition of Imam in Osun
Group protests alleged imposition of Imam in Osun
A Muslim group in Inisa, Odo-Otin Local Government area of Osun State, has threatened to embark on mass protest over alleged imposition of Imam on the community’s central mosque.
The mosque had been without leadership since the demise of the imam, his deputy, and third in command, within the space of two months, in 2020, following the crisis over succession plan.
However, in December 2023, Osun State governor, after observing Juma’at prayer in the mosque, adopted one Hakeem Jamiu as the imam.
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But a Muslim group in the town, Inisa Muslim Elites Association, IMEA, while addressing newsmen in Osogbo, yesterday, described the governor’s action as an affront on Islamic teachings and provided guidelines on the appointment of an imam.
Fielding questions from journalist, Imam Raji Oladejo said the Muslim Ummah in the town are ready to lay down their lives to the dictates of the religion on the matter and would not succumb to any imposition from any quarter.
His words: “We have called the attention of every stakeholder on this matter over the illegalities of those who imposed an imam on us in Inisa. We have repeatedly stressed the need to follow due process, and a case is still in court.”
Group protests alleged imposition of Imam in Osun
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Lagos GDP hits N41tn, earns N433bn from IGR
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