Naira scarcity: Why NLC is not calling for mass actions against FG, CBN – Wabba – Newstrends
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Naira scarcity: Why NLC is not calling for mass actions against FG, CBN – Wabba

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National President, Nigeria Labour Congress (NLC), Ayuba Wabba

National President, Nigeria Labour Congress (NLC), Ayuba Wabba, has given the reason why the leadership of the labour movement in thr country has not called for mass actions against the Federal Government and Central Bank of Nigeria (CBN) over the scarcity of both the newly redesigned naira notes and Premium Motor Spirit (PMS).

He explained that there might have been a grand plan from the powers that be to use the twin scarcity of naira notes and fuel to disrupt the conduct of this year’s general elections, slated for February 25th and March 11th, saying NLC would not want to be part of whatever, will cause disruption of the polls.

He made the disclosure during an interview with journalists in Ibadan, the Oyo State capital, after the commissioning of Food Union Hotel and Suites, Apata, Ibadan, built by the National Union of Food, Beverage and Tobacco Employees (NUFBTE), under the leadership of its outgoing national president, Lateef Oyelekan.

According to Wabba, “We want the election to hold. Basically, I would agree from what is happening; possibly there is also a theory to actually push Nigerians to the wall so that Nigerians will react, and therefore will disrupt the election process.

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“We will not be part of that disruptive tendencies. We want the election to hold and be free and fair. We want Nigerians to be able to elect leaders that can change this negative narrative.

“As far back as 12th of December 2022, we wrote to the CBN Governor the likely consequence of the action he was about to take in redesigning the naira notes, without consultation and dialogue with stakeholders. He took the action unilaterally.

“We have seen it come to pass the consequence that we warned him against. Also, we wrote  to Mr. President as NLC to tell him what we envisaged because the entire economy of Nigeria and lather part of Africa is mostly informal.

“So, people trade in their small and medium scale businesses in actual currencies. By the time you retrieve the old currencies, and the new ones are not available, what you can see is chaos. When I was coming to Ibadan this morning, in every bank, I have seen a very chaotic situation, where people are losing a lot of man-hour. People queue in banks to retrieve their hard-earned money that government cannot give them.

“It is really a situation that has called for concern for every right thinking Nigerian. It is condemnable. We have condemned the situation. Nigerians are not supposed to be in this type of situation, because we are a country that is blessed in terms of resources. This is why we said the Permanent Voter Cards (PVCs) Revolution is important for us to change the negative narrative, not to lament, not to join them in disruptive tendencies.”

On the scarcity of fuel, Wabba stated: “It is a situation that is really unbecoming. It is very pathetic and condemnable. We have told every Nigerian the only way we can bring in a better society. Our politicians have become immune to strike and protest. But we know there is a ‘PVC Revolution’ going on, where we can elect leaders of our choice that we believe can fix the problems.

“Basically, at the eve of elections like this, it is really unfortunate that these issues are happening, either deliberately or because they believe that Nigerians cannot exercise their rights to freely vote and get people that they want as their leaders. So, I call on all Nigerians, including workers to use the current election cycle to vote leaders that will change  the negative narrative.

“The issue of price modulation has failed and the issue of continued importation of fuel as well as complaints that there is subsidy have failed. What is the option? The option is to be refining the product here in Nigeria. This is the position of NLC, and that os why we refused to engage them in this issue of reducing or increasing the price because it has been a viscous cycle  for the past 30 years. What is important is policy change… God has given us this product free of charge. What is lacking I the political will to make the four refineries to work, and also encourage private refineries to come in. These at what will address this problem.”

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NURTW scribe felicitates Nigerians on Xmas, urges caution 

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December 22, 2024

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NURTW scribe felicitates Nigerians on Xmas, urges caution 

 

The General Secretary of the National Union of Road Transport Workers (NURTW), Comrade Kayode Agbeyangi, has enjoined Nigerians to imbibe the virtues of peace, love and compassion as taught through the birth of Jesus Christ.

He stated this in his Christmas and end of the year goodwill message to felicitate members of the union and Nigerians in general.

Agbeyangi urged Nigerians to use the festive season to reflect on the values of love, compassion, and sacrifice that Jesus Christ embodied.

“This period is not for merry making alone; we should also spare time to reflect on the birth and life of Jesus Christ.

“His birth teaches humility, love compassion and sacrifice. As Nigerians, we must show love to our fellow county men. We must love our country. As Nigerians, we must be ready to make sacrifices for the nation.”

The NURTW scribe also used the opportunity to appeal to members of the union and other road users to always exercise caution and adhere to all safety protocols while travelling during the festive season.

“As we celebrate, let us not forget the importance of road safety. The roads can be treacherous, especially during the festive season.

“I urge our members and all road users to drive safely, avoid overspending, overtaking at dangerous bends and overloading, and be courteous to other road users,” he stated.

He also advised drivers that all their vehicle papers should be up to date to avoid embarrassment from law enforcement officers on the highways.

Comrade Agbeyangi prayed for a peaceful and joyous celebration, and wished members of the union and Nigerians, a happy prosperous New Year.

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Why we displayed ‘Jesus Christ is not God’ banner at Lekki mosque -Imam

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December 22, 2024

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Why we displayed ‘Jesus Christ is not God’ banner at Lekki mosque -Imam

 

The Chief Imam of Lekki Central Mosque in Lagos, Ridwanullah Jamiu, has said the “Jesus Christ is Not God” banner placed on the fence of the mosque was not intended to provoke anybody. The banner became a source of controversy after a picture of it was shared on social media, with many calling it an…

The Chief Imam of Lekki Central Mosque in Lagos, Ridwanullah Jamiu, has said the “Jesus Christ is Not God” banner placed on the fence of the mosque was not intended to provoke anybody.

The banner became a source of controversy after a picture of it was shared on social media, with many calling it an attack on the Christian faith.

 

Addressing his congregation, Jamiu said the banner was displayed to educate Muslims.

 

He said, “When you come to Lekki Central Mosque, at least you should learn something. You pass by the banners outside, you look here and there, you learn something because Islam treasures knowledge.”

The Imam said all the banners displayed outside the mosque contain Quran and Hadith verses.

 

He said after a photo of one of the banners went viral, he “received calls from the government, local government, and area command appealing to us to please remove the banners because of the festive period.”

 

He said the display of the banners was not to provoke anyone, noting that there’s a difference between propagation of Islam and provocation.

 

“It was not placed there just yesterday. It has been there for about two months or thereabout. We are peace loving people, we don’t provoke anyone. We only propagate our name,” he said.

Jamiu further stated that nobody can monopolise Jesus because Muslims also have what they believe about him as backed by the Quran which calls him Isah.

 

“If you don’t believe in Jesus, you are not a Muslim. We are Muslims and anything we believe must be in consonant with the Quran and the Quran says Jesus Christ is not God, he’s a messenger of God. We quoted this verse in the banner. Is there anything wrong if we paste what we believe on our territory to educate our congregation? It’s a verse of the Quran. This is freedom of religion, freedom of speech,” he said.

 

On the removal of the banner, Jamiu said he received multiple calls ascribing the gesture as cowardice.

 

 

“It is not cowardice. We removed it to let peace reign, to obey our government because we are peace-loving people and also because we know it’s a festive period, people may think it was actually calculated to enrage others. We are going to modify it and put it back. We are not cowards,” he said.

 

The banner has since been replaced with another which says “A

llah is the lord of Jesus.”

 

Why we displayed ‘Jesus Christ is not God’ banner at Lekki mosque -Imam

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CBN fines bank found hoarding cash N150m

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5 hours ago

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December 22, 2024

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CBN fines bank found hoarding cash N150m

The Central Bank of Nigeria (CBN) has imposed a N150 million fine on a commercial bank for failing to dispense cash through its Automated Teller Machines (ATMs).

This action follows an unannounced inspection by the apex bank, which uncovered deliberate cash hoarding and ATM manipulation by the erring bank.

Sources within the CBN revealed that the sanctioned bank was caught disabling its ATMs, thereby denying customers access to their funds while prioritizing cash disbursements to select VIP clients.

A staff member of the CBN stressed that the apex bank would not tolerate such practices.

“The Bank will not spare any Deposit Money Bank (DMB) caught in the act of hoarding cash or found favoring VIP customers over other customers,” the official stated.

To this end, the CBN has intensified spot checks on banks nationwide, exposing various illicit cash-handling practices by some unscrupulous financial institutions.

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For now, the CBN is imposing financial penalties on defaulting banks. However, according to the official, the next phase of enforcement will include publicly naming and shaming offending banks and prosecuting implicated bank officials.

“This fine is just the beginning. The CBN is determined to hold banks accountable for any actions that undermine public trust and the integrity of the banking system,” the official added.

Despite the ongoing challenges, the CBN has reiterated its commitment to promoting cashless banking in the country.

Another senior official disclosed that the apex bank’s management is intensifying efforts to encourage the use of electronic channels for transactions.

“The frustration faced by account holders is undermining our push for a cashless economy. We are doubling down on initiatives to restore public confidence in electronic banking solutions,” the official said.

CBN fines bank found hoarding cash N150m

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