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Nigeria ready to host African Central Bank, Tinubu tells AU

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Nigeria ready to host African Central Bank, Tinubu tells AU

President Bola Tinubu has reassured the African Union of Nigeria’s willingness to host the African Central Bank by the agreement enshrined in the Abuja Treaty. 

Speaking at the 37th Ordinary Session of the Assembly of Heads of State and Government of the African Union (AU) in Addis Ababa, Ethiopia, Tinubu assured African leaders of Nigeria’s readiness, committing to working with the African Union Commission and member states to establish the bank by 2028. 

According to a statement by his Special Adviser on Media and Publicity, Ajuri Ngelale, Tinubu also categorized challenges facing the continent into externally engineered and locally induced.  

What the President said 

He affirmed that Africa’s success in conclusively addressing its challenges hinges on the firmness of its resolution, built on a foundation of deep-rooted solidarity if it is to avoid perpetuating existing problems and creating new ones. 

  • “As a continent and as individual nations, we face strong headwinds and difficult hurdles threatening to complicate our mission to bring qualitative democratic governance and economic development to our people. Many of these obstacles, such as climate change and unfair patterns of global trade, are largely not of our making.  
  • “However, some of the pitfalls, including coup-birthed autocracies and the deleterious tinkering with constitutional tenure provisions, are developmental cancers we as Africans are giving to ourselves,” he stated. 

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Addressing the military coups in Guinea, Burkina Faso, Mali, and Niger, the President underscored the importance of maintaining regional solidarity within ECOWAS, despite disagreements over unconstitutional regime changes, to ensure ongoing cooperation and affinity among member nations. 

  • “The drive for a peaceful, strong, and united West Africa is bigger than any one person or group of people. The bonds of history, culture, commerce, geography, and brotherhood hold deep meaning for our people. Thus, out of the dust and fog of misunderstanding and acrimony, we must seize the chance to create a new people-centric era of trust and accord,” President Tinubu said.  

What you should know 

  • The Treaty Establishing the African Economic Community, otherwise known as the Abuja Treaty,  was adopted on 3 June I991 and entered into force on 12 May 1994. 
  • It was aimed at fostering the social, economic and cultural development of the African continent through the integration of the economies of the various countries. 
  • The treaty lays the foundation for the eventual establishment of an African Common Market and, together with the OAU Charter, regulates the work and aims of the OAU. 
  • The treaty provides for the creation of an African Economic Community through a gradual process of co-ordination, harmonization and progressive integration of the activities of existing and future Regional Economic Communities (RECs) in Africa. This will be done in six successive stages over 34 years. 

Nigeria ready to host African Central Bank, Tinubu tells AU

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Just in: Factional Zamfara assembly leaders want governor to represent budget

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Just in: Factional Zamfara assembly leaders want governor to represent budget

A factional House of Assembly has emerged in Zamfara state with members demanding the re-presentation of the 2025 Appropriation Bill by Governor Dauda Lawal.

The group, made up of nine lawmakers who were suspended in February 2024 over allegations of misconduct, conspiracy, and illegal sitting, convened in Gusau, the state capital, and declared the formation of a parallel legislative body.

At the session, the lawmakers elected Hon. Bashir Aliyu Gummi as Speaker of the factional assembly.

During the sitting, the faction addressed several issues, including the state’s deteriorating security situation, economic challenges, and the recent reports of mass sackings within the state civil service allegedly carried out by the Lawal administration.

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The group further demanded that Governor Lawal re-present the 2025 budget, arguing that the process followed in its initial passage was flawed. The governor had originally submitted the N545 billion Appropriation Bill to the widely-known State House of Assembly led by Speaker Bilyaminu Ismail Moriki in December 2024. The bill was passed and signed into law that same month.

Present at Wednesday’s session were Hon. Aliyu Ango Kagara (Talata Mafara South), Ibrahim Tudu Tukur (Bakura), Nasiru Abdullahi Maru (Maru North), and Faruk Musa Dosara (Maradun 1). Others included Bashar Aliyu (Gummi 1), Bashir Abubakar Masama (Bukkuyum North), Amiru Ahmed (Tsafe West), Basiru Bello (Bungudu West), and Mukhtaru Nasiru (Kaura Namoda North).

 

Just in: Factional Zamfara assembly leaders want governor to represent budget

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NLC to IMF: Your reforms inflict hunger, poverty on masses

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President of the NLC, Comrade Joseph Ajaero

NLC to IMF: Your reforms inflict hunger, poverty on masses

The Nigeria Labour Congress (NLC) has taken a swipe at the International Monetary Fund (IMF) over its policy proposals to Nigeria and other African nations on how to rejuvenate their ailing economies.

Indeed, the NLC pointedly told the IMF that its conditionalities for giving loans to Nigeria and others were inflict pains of hunger and poverty on the masses.

The NLC President, Joe Ajaero, stated this when he received the IMF team team comprising the its Resident Representative for Nigeria, Christian H. Ebeke, and, Axel Schimmelpfennig from Washington, DC.

The purpose of the visit, it was learnt, was to assess how Nigerian workers and the general populace are being affected by the current socioeconomic environment and the hardship resulting from government policies.

The IMF delegation, led by Schimmelpfennig also sought insights from the NLC regarding the state of the labour market in Nigeria. According to them, the information gathered would contribute to the IMF’s annual country report for Nigeria.

Sources at the meeting disclosed that the IMF team acknowledged that the Nigerian government has been grappling with fiscal challenges since assuming office.

They emphasized that the IMF’s recommendations are purely advisory and not mandatory, based on the prevailing realities in each country.

The delegation expressed concern that, often, governments do not follow the IMF’s recommendations to the letter, instead adapting them to align with political objectives. In effect, the IMF attempted to distance itself from the adverse consequences of some recent economic reforms in Nigeria.

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Nevertheless, the IMF team requested continued engagement with the NLC going forward.

Ajaero made it clear that governance should prioritize citizens’ welfare over profit-making.

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‘Enough is enough’, Tinubu directs security chiefs to stop violent attacks

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‘Enough is enough’, Tinubu directs security chiefs to stop violent attacks

 

President Bola Tinubu has ordered security operatives to end forthwith the violent attacks in some parts of the country, especially in Plateau, Borno, and Benue states.
He gave the directive during a meeting with security chiefs at the State House on Wednesday.
The meeting was attended by Nuhu Ribadu, the national security adviser (NSA); Mohammed Mohammed, director-general of the National Intelligence Agency (NIA); Emmanuel Undianeye, chief of defence intelligence; Oluwatosin Ajayi, director-general (DG) of the Department of State Services (DSS); and Femi Gbajabiamila, chief of staff (CoS) to the President.
Speaking with journalists after the meeting, Ribadu said Tinubu declared that “enough is enough” on the resurgence of violence in some parts of the country.
The NSA said the president directed security chiefs to work with the political authorities in states and at the grassroots level to find a lasting solution to the insecurity.
He said the security chiefs had acted on Tinubu’s previous instructions by meeting with political leaders in the affected communities and states.
The NSA said the meeting offered the security chiefs the opportunity to fully brief the president about the current security situation of the country.
“This time, we were able to sit with him for hours and give a proper briefing. We also took new instructions from him,” he said.
“Insecurity is not only a government problem.
“It also involves the subnational units — the communities, local governments, and especially the governors. The president directed that we work more closely with them.
“Some of these problems are community-related. While not entirely so, that element plays a significant role.
“Mr. President is working hard to ensure that Nigeria enjoys peace and stability. We are not relenting. We will not stop until we get the results he demands.”
On the resurgence of violent attacks in Borno, Ribadu said the terrorists were planting explosives during the period of relative peace in the state.
“This enemy does not give up easily. When there’s peace for a long time, they try to shock the public with an isolated incident,” he said.
The NSA said the security situation in the country is not yet at 100 percent, while noting that there is “significant improvement”.
Since the beginning of the month, many have been killed in some communities in Plateau State.
Benue State has also recorded violent attacks as over 50 people were killed in Ukum and Logo LGAs on April 18.

 

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