Kano govt criticizes FG over sealing of Emir’s palace

The Kano State Government has blamed the Federal Government for security operatives’ blockade of the Kano Emir’s Palace on Friday.

Armed police officers and operatives of the Department of State Services (DSS) reportedly sealed the palace entrance, creating tension in the area.

The incident occurred as Emir Muhammadu Sanusi II was scheduled to address a group of economists on controversies surrounding the tax reform bills currently before the National Assembly.

He was also set to accompany his newly appointed district head, Munir Sanusi, to Bichi.

Despite the blockade, Emir Sanusi held court at the outer palace and later led the Friday congregational prayer at the Kano Central Mosque outside the palace.

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Reacting to the development, the Secretary to the State Government, Abdullahi Baffa Bichi, criticized the Federal Government during a local radio interview, accusing it of attempting to destabilize the peace in Kano.

“We were really surprised waking up to this development with police sealing off the entrance to the palace of Kano Emir, Muhammadu Sanusi II,” Bichi stated.

He added, “What surprises us the most is that Kano is peaceful, but a few people with backing from Abuja don’t want Kano to remain so.

“The emir was to escort his district head of Bichi, Wamban Kano, pray with him there, and then return. We were all invited, but we woke up to this. When we inquired, they told us it was an order given to them from above. Who is above? It’s the Federal Government.”

Bichi reaffirmed the state government’s commitment to maintaining peace in Kano and insisted that the emir’s decision to appoint a district head remains valid.

“We in Kano have resolved to stay in peace. Peace will reign, and nobody will come to Kano and destabilize it. The emir has appointed the district head, and it stands. He will take him to his place, and whenever he is ready, we are going there with him—no going back,” Bichi declared.

Kano govt criticizes FG over sealing of Emir’s palace

Shettima tells banks to resolve cash scarcity, arbitrary charges

Vice President Kashim Shettima has urged the Central Bank of Nigeria (CBN) and commercial banks to urgently address issues of cash scarcity and arbitrary charges by Point of Sale (POS) operators. He made this call at Friday’s 2024 Bankers Committee annual retreat in Abuja.

Represented by the Special Adviser to the President on Economic Matters, Dr. Tope Fasua, Shettima emphasized the importance of tackling these challenges to enhance financial and economic inclusion.

“Nigerians complain bitterly about their inability to access minimal cash when needed. There also seems to be exploitation through high and arbitrary charges by street-level POS operators. We are confident that these issues can be resolved with concerted efforts,” Shettima said.

He also encouraged the banking sector to introduce more initiatives to finance Micro, Small, and Medium Enterprises (MSMEs) while supporting federal and state government efforts to reduce consumer credit costs.

Shettima noted that the National Bureau of Statistics is working to rebase the economy, GDP, and Consumer Price Index, a task last undertaken over a decade ago despite the World Bank’s recommendations for more frequent reviews.

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Additionally, the Vice President projected that the country’s debt-to-GDP ratio would drop to approximately 30% by the first quarter of 2025.

CBN Governor Highlights Financial Challenges

In his address, CBN Governor Olayemi Cardoso acknowledged the financial crisis the apex bank inherited and outlined key economic challenges.

“Over the past eight to nine years, the economy grew on average at 1.8% annually, while money supply expanded by about 13%. Outstanding Ways and Means at the end of 2022 was approximately 11% of GDP—a global record,” Cardoso stated.

He stressed the need for robust solutions to address the economic challenges, urging the committee to prioritize innovation and inclusivity while reinforcing trust with the Nigerian public.

“We must reflect on creating an ecosystem that supports innovation and fosters an inclusive economy,” Cardoso added.

The retreat served as a platform for stakeholders to discuss strategies for overcoming Nigeria’s financial challenges and promoting sustainable economic growth.

Shettima tells banks to resolve cash scarcity, arbitrary charges