Forcing naira to appreciate won’t work, Peterside tells FG

Founder of Stanbic IBTC, Atedo Peterside, has advised the Federal Government not to force the naira to appreciate against the dollar and other currencies in a hurry.

He stated this on a Channels Television programme: “Politics Today,” on Thursday.

Peterside said, “Going to sell dollars to Bureau De Change at N1,000, N1,050, those guys will turn around two weeks later and sell it at N1,400, N1,500 and they will go away laughing.

“What’s the point for that? It’s better to have some stability they can sustain; keep between N1,300 and N1,400, which looks to be the natural equilibrium band today.

“Keep it there for a while, build up your reserve to let confidence come back.

“So stop trying to appreciate the naira in a hurry. It’s not going to work.”

Peterside said the next step for the government is to start doing things to build confidence in investors and stop reckless spending.

He said the habit of doing five things right and doing two things wrong would not help the government achieve anything tangible.

He said Tinubu’s monetary policy is on the right direction, but the government should tackle huge fiscal indiscipline.

NURTW crisis: Stop causing confusion, Yasin warns Baruwa

Chairman of the Board of Trustees (BOT) of the National Union of Road Transport Workers (NURTW), Alhaji Najeem Usman Yasin, has warned Alhaji Tajudeen Ibikunle Baruwa, former president of the union, to stop misleading people and causing confusion about the state of affairs of the union.

He stated this while addressing members of the union during an emergency meeting at the national headquarters of the union, Abuja, called to put the records straight about some misinformation flying around.

Baruwa is said to have been going around misleading the people that he is the authentic leader of the union despite a recent National Industrial Court judgement given by Justice OO Oyewunmi that the NIC no longer has jurisdiction over the matter.

Yasin in a statement was quoted to have said, “When he (Baruwa) got Judgement from National Industrial Court, we quickly appealed against it and the court struck out the case for lack of jurisdiction.

“But to our surprise, Baruwa has been going about sending wrong messages to our people that he is the authentic president.

“I want to tell you that as of today, we only have an interim arrangements headed by Alhaji Aliyu Issa Ore and that the only recognised headquarters of the union is the one on Sapele Street, Garki Abuja.”

He urged members to disregard any further propaganda from Baruwa.

“Baruwa should wait for the outcome of the Court of Appeal before making any noise. He destroyed the union and now he wants to use power of incumbency to manipulate everybody and we say no to his manipulation,” he stated.

Acting President of the NURTW, Alhaji Ore, appealed to members not to entertain any information from Baruwa and his people, saying they are only out to cause confusion in the union.

He also advised members not go to any office of the union apart from the one registered and sited on Sapele Street

In his own contribution, the Registrar of the Trade Union, Mr Falonipe Amos, who was part of the meeting, said the Federal Government would be very happy to see the crisis resolved

He said, “We are all members of the same family and the two parties should keep hope alive and work for peace. We are father to all the unions. We are for the interest of the union and hope that at the end of the day, the union will come out stronger.”

Lagos Govt insists no attachment to shops, buildings

Lagos State Government has maintained its zero-tolerance stance against illegal construction of extensions and attachments to shops and buildings in any part of the state.

General Manager of the Lagos State Building Control Agency (LASBCA), Gbolahan Owodunni Oki, an architect, stated this.

He spoke at a multi-agency enforcement carried out to remove extensions and attachments affixed to shops and plazas within the Lagos Island Central Business.

The action, he said, would bring about safety and orderliness to the markets and streets in the area.

A statement by Olaoye Olusegun, Director of Public Affairs at LASBCA, quoted Oki as saying those extensions affixed to shops and buildings within the area were constituting nuisance and a hindrance to rescue operations during emergencies.

He cited the case of fire outbreak in Mandilas building where first responders such as the state fire and rescue services could not access the burning building due to blockage of the roads and streets by traders with their extensions and attachments.

He told all owners of shops and business premises with extensions/ attachments to remove them immediately.

Oki disclosed that the removal exercise would be continuous and extended to other parts of the state.

He stressed that Lagos State would no longer tolerate the level of lawlessness going on in the commercial areas, especially Lagos Island where every available space was being converted to shops extending to the roads.

Oki also frowned on the practice of mounting diesel and petrol generators on rooftops, penthouses and iron staircases of shops and plazas within commercial centres.

The multi-agency exercise comprising the Lagos State Building Control Agency, Lagos State Neighbourhood Watch, Lagos State Traffic Management Authority, Central Business Districts and Lagos State Environmental Services amongst others, witnessed the removal of attachments to shops around Nnamdi Azikiwe Street, Dosunmu, Ereko, Eyin Eyo, Martins, Balogun and its adjoining streets.

The removal is part of the recommendations of the Dosunmu Fire Incident Committee headed by the Commissioner for Special Duties and Intergovernmental Relations, Mr Gbenga Oyerinde.