Fubara speaks on Rivers tanker explosion, pledges support for affected families – Newstrends
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Fubara speaks on Rivers tanker explosion, pledges support for affected families

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Fubara speaks on Rivers tanker explosion, pledges support for affected families

Rivers State Governor Siminalayi Fubara has characterised the fire incident caused by a tanker transporting Premium Motor Spirit, also known as petrol, as extremely regrettable since it burned motorists and commuters beyond recognition and damaged multiple vehicles.

Fubara pointed out that the collision could have been averted if the drivers had been more cautious.

On Friday night, an explosion occurred between Indorama Gate and Aleto Bridge on the popular and bustling Eleme portion of the East-West Road, which is currently undergoing extensive redevelopment by the Federal Government.

Fubara expressed concern at the terrible sights he witnessed when visiting the scene of the event on Saturday morning, accompanied by the state commissioner of police, Olatunji Disu, and the commissioner of energy and natural resources, Mr. Uchechukwu Nwafor.

Nelson Chukwudi, the Governor’s Chief Press Secretary, released a statement to the media.

Fubara stated that he received a call from the Managing Director of Indorama Petrochemical and Fertiliser Company Limited in Eleme Local Government Area, telling him of the tragedy.

When Fubara learned of the occurrence, he quickly routed a call to security agencies and asked them to visit the location to take command of the area’s security in order to prevent the situation from escalating.

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Fubara stated, “We are here to see for ourselves and get first-hand information about the incident that happened yesterday night.

“About 7.30–8 pm, we got information on the gravity of the incident. I was told that it was caused by a tanker vehicle that was conveying Premium Motor Spirit.

“I got the information through the MD of Indorama, and I immediately alerted the security agencies to make sure they took control of the security situation in the area.

“And from what we are seeing this morning, it was not a pleasant case. We recorded a huge number of vehicles destroyed and lives lost.”

Fubara explained that he had already requested that the relevant government agencies provide him with a detailed account of their findings so that the state government could make appropriate decisions and actions to significantly improve the situation and reduce the negative impact on the affected people.

“I have already asked the relevant agencies to give us a full brief so that we can come into the situation fully by seeing how much we can support the bereaved families and also cushion the effect of the losses, which I believe is no fault of a good number of them.

“We all know the situation on this road. It is really unfortunate. Most of our people, when plying this road, should do so with caution.

“I believe very strongly that this situation would have been avoidable if the motorists had behaved properly. But it is late already. The damage has happened. This is the situation we have found ourselves in. We will see how we can control the aftermath,” he added.

Fubara speaks on Rivers tanker explosion, pledges support for affected families

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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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