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Don’t go with official vehicles, Buhari tells ministers

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President Muhammadu Buhari

Don’t go with official vehicles, Buhari tells ministers

Two days to the end of the eight-year administration of President Muhammadu Buhari, and handover of power to the President-elect, Asiwaju Bola Tinubu on May 29, the Presidency has said ministers will not be allowed to leave office with their official vehicles.

It said they would only get what the Revenue Mobilisation Allocation and Fiscal Commission prescribes as their severance benefits.

It noted further that Buhari and the Vice-President, Prof Yemi Osinbajo (SAN), would also leave behind their armoured, luxury vehicles, which would be taken over by their successors, Tinubu and his deputy, Kashim Shettima, respectively.

The Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, gave the clarification in an interview, following the usual practice of government officials leaving office with their official vehicles.

Across the country and at all levels of government, it has become a norm for heads of the executive arm and some heads of Ministries, Departments and Agencies to leave office with government vehicles; some sold the vehicles to themselves at a rate many people describe as ridiculous; some allocate huge funds for themselves for the purpose of buying vehicles; while some buy or convert government properties to personal use after their tenure.

Shehu stated that Buhari, Osinbajo and the ministers would not leave office on May 29 with the vehicles allocated to them.

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He said, “As we speak today, nobody is entitled to official cars. What they use are project vehicles. These ones can only be boarded and sold after four years of usage. That is when the book value has been exhausted.

“This is as far as the law recommends as we speak. So, don’t expect that because ministers are leaving, they will carry their vehicles under Buhari. It is not going to happen. If the ministers are not taking their vehicles along, you don’t expect the president to take any. It is not going to happen.”

The presidential spokesperson explained that the law already provides for former presidents and their deputies to get a certain number of vehicles at certain intervals, and that there was no need for them to take government vehicles.

He stated, “Former Heads of State have a prescribed number of vehicles they are entitled to, which may be changed after a certain number of years. And the President has kept to this by supplying that number of vehicles to all former Heads of State each time it is due. The President will not place himself above the others; that I can assure you.”

‘Vehicles too sophisticated’

Meanwhile, a top source in the Presidency has explained that the vehicles used by the President and the Vice-President were purpose-built and could not be used by private citizens, which the occupants of the offices become after leaving office.

The source noted that apart from the high cost of the vehicles, they come with high-end customisation, including security and other features.

The source said the vehicles, including Mercedes-Benz S-Class, Toyota Land Cruiser sport utility vehicles, buses and luxury vans, meet certain comfort, security and durability requirements.

Findings revealed that the President and the Vice-President use armoured 2019 Mercedes Benz Maybach S650 bullet-proof sedans, which some experts estimate to be worth at least N300m.

The Buhari-led government earmarked N907m in 2018 for a phased acquisition of new vehicles and spare parts for the presidential fleet.

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The 2019 budget also allocated N843m for the purchase and maintenance of motor vehicles.

The high cost is due to the extensive customisation, security features and the limited production of the armoured luxury vehicles.

It was gathered that the President’s official vehicle is a five-seater sedan, fitted with massage and heated seats. With a 5.5-liter 12-cylinder turbocharged engine, it revs at 5,000 per minute, with 510 horsepower. It also has miles per gallon rating of 25mpg on the highway and 15 mpg in the city.

The 2018 allocation meant that Buhari would no longer use the defective 2014 Mercedes Benz S350 passed to him by his predecessor, Goodluck Jonathan.

In 2022, N1.6bn and N30m were allocated for car-related expenses in the offices of the President and the Vice-President respectively.

However, as Buhari and Osinbajo leave office on May 29, a source in the Presidency said both officers would leave behind the high-end luxury vehicles that have chauffeured them for the past few years.

Like Shehu, the source stressed that since the country caters for all past Heads of State, there was no need to leave office with such expensive vehicles.

The source explained, “Past presidents are already under the care of the government. In the office of the Secretary to the Government of the Federation, there is a department that monitors the affairs of past Heads of State. That department takes care of everything past presidents need.

“He (Buhari) cannot take those vehicles. Those are bulletproof vehicles that cost a lot of money. They don’t come cheap. They will be used by the next President. What will he be doing with them as a private citizen?

“I know there are governors and heads of ministries, departments and agencies who after using a vehicle for a while, they may leave office with it. But that does not apply to the Office of the President and the Vice-President.”

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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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