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Just in: CBN Governor Godwin Emefiele suspended

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Just in: CBN Governor Godwin Emefiele suspended

 

President Bola Tinubu has suspended Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN).

The announcement came on Friday from the office of the secretary to the government of the federation.

Willie Bassey, director of information at the SGF office, in a statement said the suspension was with immediate effect.

The press release

The statement read, “President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, CFR, from office with immediate effect.

“This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

“Mr Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the Central Bank Governor pending the conclusion of investigation and the reforms.”

 

 

 

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FG begins verification of National Social Register

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Dr Betta Edu

FG begins verification of National Social Register

The Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, on Saturday flagged off the Federal Government’s verification of the National Social Register in Makoko, Lagos state.

According to the minister, the exercise will ensure that the federal government’s social register is accurate and captures the people who deserve to be on the register.

Edu said she was in the community to flag off the Social Register verification for the Vulnerable People Living in the Makoko Area of the state.

She said: “We are here today in the Makoko area of Lagos state because President Bola Tinubu has asked us to come here and verify the National Social Register.

“The President desires to ensure that the social register is accurate and indeed captures the people that deserve to be on that register.

“The Federal Government of Nigeria is trying to put monies in the hands of Nigerians.

“This is to assist them in terms of their businesses, livelihood, job creation, of course, to help them afford basic things like sending their children to school and ensuring that they can access to quality health services.’’

“For us to do this, we need to verify the National Social Register.”

According to the minister, the president is determined to ensure that those on the national social register are truly poor and live under one dollar per day.

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The president has approved that we go down to the grassroots and ensure that the national social register is a true reflection of people who are poor, who live under one dollar a day, and people who live in remote areas and areas that truly need help.

“Those who should not be on the register should be removed. Those who need to be on the register should be included.

“And so, we are taking this as one of the samples. We are doing both the community targeting and geographical targeting.

“This is our first sample and we have gone round and we have seen that certain aspects of the Makoko was covered under the national register.

“However, the last area that we came for was not reflected on the national social register and so, we will be coming back to do a targeted capturing of the people in this area,” Edu said.

She also said that the exercise would be carried out across the country to ensure that a National Social Register in Nigeria has integrity.

“We will work with the governors, we will work with the states, we will work with the local governments and we will work with the community heads.

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“And we can be sure that those who are being captured and those we will be making the conditional cash transfers to are those who truly need it devoid of political interference, devoid of social interference and devoid personal interest.”

The News Agency of Nigeria (NAN) reports that the minister distributed some food items to the affected residents of the area and conducted a free health outreach on the sidelines of her visit.

Edu also said: “We won’t just come here empty-handed and we have tried to see that we can send in some food items, some palliative to them.

“The distribution will still continue. They will go house-to-house using the boats and drop the items at their various locations.

“This is actually what we need to do to ensure that we target the right persons as we make the move to end poverty in Nigeria and reduce humanitarian crises.

“We are also working with the National Population Commission, so we can go all the way to the grassroots.

“They (the population commission) have individuals in all the 8,200 polling units, wards, communities across the country.

“So, we have persons there that will truly verify the register for us, identify the human beings, then tell us areas that have not been captured,” Edu said.

FG begins verification of National Social Register

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63rd Independent Anniversary: Full text of Tinubu’s address

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President Bola Ahmed Tinubu

63rd Independent Anniversary: Full text of Tinubu’s address

Dear Compatriots,

It is my unique honour to address you on this day, the 63rd anniversary of our nation’s independence, both as the President of our dear country and, simply, as a fellow Nigerian.

2. On this solemn yet hopeful day, let us commend our founding fathers and mothers.  Without them, there would be no modern Nigeria. From the fading embers of colonialism, their activism, dedication and leadership gave life to the belief in Nigeria as a sovereign and independent nation.

3. Let us, at this very moment, affirm that as Nigerians, we are all endowed with the sacred rights and individual gifts that God has bestowed on us as a nation and as human beings. No one is greater or lesser than the other. The triumphs that Nigeria has achieved shall define us. The travails we have endured shall strengthen us. And no other nation or power on this earth shall keep us from our rightful place and destiny. This nation belongs to you, dear people. Love and cherish it as your very own.

4. Nigeria is remarkable in its formation and essential character. We are a broad and dynamic blend of ethnic groups, religions, traditions and cultures. Yet, our bonds are intangible yet strong, invisible yet universal. We are joined by a common thirst for peace and progress, by the common dream of prosperity and harmony and by the unifying ideals of tolerance and justice.

5. Forging a nation based on the fair application of these noble principles to a diverse population has been a task of significant blessing but also serial challenge. Some people have said an independent Nigeria should never have come into existence. Some have said that our country would be torn apart. They are forever mistaken. Here, our nation stands and here we shall remain.

6. This year, we passed a significant milestone in our journey to a better Nigeria. By democratically electing a 7th consecutive civilian government, Nigeria has proven that commitment to democracy and the rule of law remains our guiding light.

7. At my inauguration, I made important promises about how I would govern this great nation. Among those promises, were pledges to reshape and modernize our economy and to secure the lives, liberty and property of the people.

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8. I said that bold reforms were necessary to place our nation on the path of prosperity and growth.  On that occasion, I announced the end of the fuel subsidy.

9. I am attuned to the hardships that have come. I have a heart that feels and eyes that see. I wish to explain to you why we must endure this trying moment. Those who sought to perpetuate the fuel subsidy and broken foreign exchange policies are people who would build their family mansion in the middle of a swamp.  I am different. I am not a man to erect our national home on a foundation of mud. To endure, our home must be constructed on safe and pleasant ground.

10. Reform may be painful, but it is what greatness and the future require. We now carry the costs of reaching a future Nigeria where the abundance and fruits of the nation are fairly shared among all, not hoarded by a select and greedy few. A Nigeria where hunger, poverty and hardship are pushed into the shadows of an ever fading past.

11. There is no joy in seeing the people of this nation shoulder burdens that should have been shed years ago. I wish today’s difficulties did not exist. But we must endure if we are to reach the good side of our future.

12. My government is doing all that it can to ease the load. I will now outline the path we are taking to relieve the stress on our families and households.

13. We have embarked on several public sector reforms to stabilize the economy, direct fiscal and monetary policy to fight inflation, encourage production, ensure the security of lives and property and lend more support to the poor and the vulnerable.

14. Based on our talks with labour, business and other stakeholders, we are introducing a provisional wage increment to enhance the federal minimum wage without causing undue inflation. For the next six months, the average low-grade worker shall receive an additional Twenty-Five Thousand naira per month.

15. To ensure better grassroots development, we set up an Infrastructure Support Fund for states to invest in critical areas. States have already received funds to provide relief packages against the impact of rising food and other prices.

16. Making the economy more robust by lowering transport costs will be key. In this regard, we have opened a new chapter in public transportation through the deployment of cheaper, safer Compressed Natural Gas (CNG) buses across the nation. These buses will operate at a fraction of current fuel prices, positively affecting transport fares.

17. New CNG conversions kits will start coming in very soon as all hands are on deck to fast track the usually lengthy procurement process. We are also setting up training facilities and workshops across the nation to train and provide new opportunities for transport operators and entrepreneurs. This is a groundbreaking moment where, as a nation, we embrace more efficient means to power our economy. In making this change, we also make history.

18. I pledged a thorough housecleaning of the den of malfeasance the CBN had become. That housecleaning is well underway. A new leadership for the Central Bank has been constituted. Also, my special investigator will soon present his findings on past lapses and how to prevent similar reoccurrences. Henceforth, monetary policy shall be for the benefit of all and not the exclusive province of the powerful and wealthy.

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19. Wise tax policy is essential to economic fairness and development. I have inaugurated a Committee on Tax Reforms to improve the efficiency of tax administration in the country and address fiscal policies that are unfair or hinder the business environment and slow our growth.

20. To boost employment and urban incomes, we are providing investment funding for enterprises with great potential. Similarly, we are increasing investment in micro, small and medium-sized enterprises.

21. Commencing this month, the social safety net is being extended through the expansion of cash transfer programs to an additional 15 million vulnerable households.

22. My administration shall always accord the highest priority to the safety of the people. Inter-Service collaboration and intelligence sharing have been enhanced. Our Service Chiefs have been tasked with the vital responsibility of rebuilding the capacities of our security services.

23. Here, I salute and commend our gallant security forces for keeping us safe and securing our territorial integrity. Many have paid the ultimate sacrifice. We remember them today and their families. We shall equip our forces with the ways and means needed to perform their urgent task on behalf of the people,

24. We shall continue to make key appointments in line with the provisions of the Constitution and with fairness toward all. Women, Youth and the physically challenged shall continue to be given due regard in these appointments.

25. May I take this opportunity to congratulate the National Assembly for its role in the quick take-off of this administration through the performance of its constitutional duties of confirmation and oversight.

26. I similarly congratulate the judiciary as a pillar of democracy and fairness.

27. I also thank members of our dynamic civil society organizations and labour unions for their dedication to Nigerian democracy. We may not always agree but I value your advice and recommendations. You are my brothers and sisters and you have my due respect.

28. Fellow compatriots, the journey ahead will not be navigated by fear or hatred. We can only achieve our better Nigeria through courage, compassion and commitment as one indivisible unit.

29. I promise that I shall remain committed and serve faithfully. I also invite all to join this enterprise to remake our beloved nation into its better self. We can do it. We must do it. We shall do it.!!!

30. I wish you all a happy 63rd Independence Anniversary.

31. Thank you for listening.

32. May God bless the Federal Republic of Nigeria.

Being the full text of a broadcast to Nigerians by President Bola Ahmed Tinubu on the occasion of Nigeria’s 63rd Independent Anniversary on October 1, 2023.

63rd Independent Anniversary: Full text of Tinubu’s address

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BREAKING : Tinubu approves additional N25,000 pay for junior workers

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President Bola Ahmed Tinubu

BREAKING : Tinubu approves additional N25,000 pay for junior workers

President Bola Ahmed Tinubu has said that for the next six months, an average low-grade worker shall receive an additional N25,000 per month.

The president said this in his nationwide broadcast as part of the programme of events marking Nigeria’s 63rd Independence anniversary celebration.

“Based on our talks with labour, business and other stakeholders, we are introducing a provisional wage increment to enhance the federal minimum wage without causing undue inflation. For the next six months, the average low-grade worker shall receive an additional N25,000 per month,” he announced, while outlining measures being taken to relieve the stress on families and households after the removal of fuel subsidy and unification of exchange rates.

Tinubu said his government was doing all it could to ease the load, stating, “We have embarked on several public sector reforms to stabilise the economy, direct fiscal and monetary policy to fight inflation, encourage production, ensure the security of lives and property and lend more support to the poor and the vulnerable.”

The president said that commencing this month, the social safety net was being extended through the expansion of cash transfer programmes to an additional 15 million vulnerable households.

READ ALSO:

He added that the government had set up an Infrastructure Support Fund for states to invest in critical areas to ensure better grassroots development, stressing, “States have already received funds to provide relief packages against the impact of rising food and other prices.”

Tinubu said the government had also opened a new chapter in public transportation through the deployment of cheaper, safer Compressed Natural Gas (CNG) buses across the country, adding that “These buses will operate at a fraction of current fuel prices, positively affecting transport fares.

“New CNG conversion kits will start coming in very soon as all hands are on deck to fast track the usually lengthy procurement process. We are also setting up training facilities and workshops across the country to train and provide new opportunities for transport operators and entrepreneurs. This is a groundbreaking moment where, as a country, we embrace more efficient means to power our economy. In making this change, we also make history.”

The president said his administration was providing investment funding for enterprises with great potential to boost employment and urban incomes.

He added that the government was equally “increasing investment in micro, small and medium-sized enterprises.”

President Tinubu, who restated the reasons behind the ongoing reforms in the country, appealed for more understanding from citizens.

He said, “I said bold reforms were necessary to place our nation on the path of prosperity and growth. On that occasion, I announced the end of the fuel subsidy.

READ ALSO:

“I am attuned to the hardships that have come. I have a heart that feels and eyes that see. I wish to explain to you why we must endure this trying moment. Those who sought to perpetuate the fuel subsidy and broken foreign exchange policies are people who would build their family mansion in the middle of a swamp. I am different. I am not a man to erect our national home on a foundation of mud. To endure, our home must be constructed on safe and pleasant ground.

“Reforms may be painful, but it is what greatness and the future require. We now carry the cost of reaching a future Nigeria where the abundance and fruits of the nation are fairly shared among all, not hoarded by a select and greedy few; a Nigeria where hunger, poverty and hardship are pushed into the shadows of an ever fading past.

“There is no joy in seeing the people of this nation shoulder burdens that should have been shed years ago. I wish today’s difficulties did not exist. But we must endure if we are to reach the good side of our future.”

On his pledge of a thorough housecleaning of the den of malfeasance the Central Bank of Nigeria (CBN) had become, President Tinubu said, “That housecleaning is well underway. A new leadership for the Central Bank has been constituted.”

He added that his special investigator would soon present his findings on past lapses and how to prevent similar reoccurrences, stressing, “Henceforth, monetary policy shall be for the benefit of all and not the exclusive province of the powerful and wealthy.”

The president, who said his administration shall always accord the highest priority to the safety of the people, stated that inter-service collaboration and intelligence sharing had been enhanced.

He said service chiefs had been tasked with the vital responsibility of rebuilding the capacities of our security services.

BREAKING : Tinubu approves additional N25,000 pay for junior workers

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