Business
Presidency defends Pantami, says enemies of govt behind smear campaign
The Presidency on Thursday rose in defence of the embattled Minister of Communications and Digital Economy, Dr Isa Pantami, saying he had since apologised for his alleged past association with Al-Qaeda and Taliban.
Some groups and individuals have called for his removal of his reported link with the terrorists in the past.
It also said the ‘cancel’ campaign against the minister was aimed at smearing his image despite the good work he was doing to improve the lives of everyday Nigerian in the last two years.
Senior Special Assistant to the President on Media and Publicity, Garba Shehu, in a release, said Pantami had atoned for what he said in the early 2000s, adding that the views were absolutely unacceptable then, “and would be equally unacceptable today, were he to repeat them, but he will not repeat them – for he has publicly and permanently condemned his earlier utterances as wrong.”
The statement also stated, “In the 2000s, the minister was a man in his twenties; next year he will be 50. Time has passed, and people and their opinions – often rightly – change.
“But all discerning Nigerians know this manufactured dispute is nothing to do with the Minister’s prior words, but solely concern his actions in the present.
“Today, there is an unfortunate fashion in public discourse that makes leaders in politics, religion, and civil society liable in the present for every statement they have ever made in the past – no matter how long ago, and even after they have later rejected them. This insidious phenomenon seeks to cancel the careers of others on the basis of a thing they have said, regardless of when they said it.
The Presidency attributed the travail of Pantami to a “cancel campaign” instigated by those who seek his removal emphasising that those people “do not really care what he may or may not have said some 20 years ago: that is merely the instrument they are using to attempt to “cancel” him. But they will profit should he be stopped from making decisions that improve the lives of everyday Nigerians”.
The release also stated that the present administration was committed to improving the lives of all Nigerians which include ensuring they are not over-charged or under-protected for those services on which modern life depends.
It thereafter reeled out the sterling performance of Pantami since he assumed office as Minister of Communications and Digital Economy in 2019.
Presidency also stated, “The minister has been leading the charge against illegal data deductions and pricing; he has revolutionised the government’s virtual public engagement to respond to COVID-19 and save taxpayers’ money; he has established ICT start-up centres to boost youth entrepreneurship and create jobs; he has changed policy to ensure locally produced ICT content is used by ministries, starting with his own; and he has deregistered some 9.2 million SIMs – ending the ability for criminals and terrorists to flagrantly use mobile networks undetected. In two short years, Minister Pantami has driven the contribution of the ICT sector to the GDP to more than 18 percent, making it one of the top two playing a critical role in the emergence of the economy from the COVID 19-induced recession.
“In putting people first, the minister and this administration have made enemies. There are those in the opposition who see success and want it halted by any means. And there is now well-reported information that alleges newspaper editors rebuffed an attempt to financially induce them to run a smear campaign against the minister by some ICT companies, many of which do indeed stand to lose financially through lower prices and greater consumer protections. The government is now investigating the veracity behind these claims of attempted inducement, and – should they be found to hold credence – police and judicial action must be expected.
“The administration stands behind Minister Pantami and all Nigerian citizens to ensure they receive fair treatment, fair prices, and fair protection in ICT services.”
Railway
Lagos Rail Mass Transit part of FG free train ride – NRC
Lagos Rail Mass Transit part of FG free train ride – NRC
The Nigerian Railway Corporation (NRC) has disclosed that the Lagos Rail Mass Transit (LRMT) trains are included in the Federal Government’s free train ride initiative for the Christmas and New Year celebrations.
The LRMT, which currently includes the Phase 1 Blue Line Rail and the Phase 1 of the Red Line Rail, operates under the Lagos Metropolitan Area Transport Authority (LAMATA).
This announcement was made by Ben Iloanusi, the Acting Managing Director of the NRC, during an interview on NTA News TV on Friday, following the launch of the initiative earlier that day.
While Iloanusi stated that Phase 1 of both the Blue Line and Red Line Rail projects are part of the program, LAMATA has yet to confirm this inclusion.
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Iloanusi outlined the other routes benefiting from the scheme, which include the Lagos-Ibadan Train Service, Kaduna-Abuja Train Service, Warri-Itakpe Train Service, Port Harcourt-Aba Train Service, and the Bola Ahmed Tinubu Mass Transit in Lagos. Notably, little was previously known about the Bola Ahmed Tinubu Mass Transit service until this disclosure.
“Let me mention the routes where this free train service is happening. We have the Lagos-Ibadan Train Service, we have the Kaduna-Abuja Train Service, we have the Warri-Itakpe Train Service, we have the Lagos Rail Mass Transit trains, we have the Port Harcourt-Aba Train Service, and we have what we call the Bola Ahmed Tinubu Mass Transit, which is also in Lagos,” he stated.
Iloanusi provided operational updates, stating that passengers nationwide can access free tickets online or, for those unable to do so, at train stations where they will be profiled and validated.
He noted that passengers using NRC-managed services (excluding the Lagos Rail Mass Transit) should reserve tickets via the official website, www.nrc.gov.ng, with a valid ID required. He also advised travelers to plan, arrive on time, and bring valid identification.
Lagos Rail Mass Transit part of FG free train ride – NRC
Business
NNPC denies claim of Port Harcourt refinery shutdown
NNPC denies claim of Port Harcourt refinery shutdown
The Nigerian National Petroleum Company Limited (NNPCL) has denied claims in media reports that the newly refurbished Port Harcourt refinery has shut down.
The national oil company denied the claim in a press release issued by its Chief Corporate Communications Officer, Olufemi Soneye, on Saturday.
Soneye said the claim was false and urged Nigerians to disregard it. He stressed that the Port-Harcourt Refinery is fully operational.
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The statement read, “The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.
“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.”
He noted that preparation for the day’s loading operation is currently ongoing, and added that claims of the shutdown are “figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.”
NNPC denies claim of Port Harcourt refinery shutdown
Business
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
This move, detailed in a circular dated December 19, 2024, is designed to meet seasonal retail demand for FX during the holiday period.
The circular was signed by T.G. Allu, on behalf of the Acting Director of the Trade and Exchange Department.
The arrangement will be in effect from December 19, 2024, to January 30, 2025.
Under the directive, BDCs may purchase FX from a single Authorized Dealer of their choice, provided they fully fund their accounts before accessing the market.
Transactions to occur at the prevailing NFEM rate
The transactions will occur at the prevailing NFEM rate, and BDCs are required to adhere to a maximum 1% spread when pricing FX for retail end-users.
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All transactions conducted under this scheme must be reported to the CBN’s Trade and Exchange Department.
The circular read in part:
“In order to meet expected seasonal demand for foreign exchange, the CBN is allowing a temporary access for all existing BDCs to the NFEM for the purchase of FX from Authorised Dealers, subject to a weekly cap of USD 25,000.00 (Twenty-five thousand dollars only).
This window will be open between December 19, 2024 to January 30, 2025.
“BDC operators can purchase FX under this arrangement from only one Authorized Dealer of their choice and will be required to fully fund their account before accessing the market at the prevailing NFEM rate. All transactions with BDCs should be reported to the Trade and Exchange department, and a maximum spread of 1% is allowed on the pricing offered by BDCs to retail end-users.”
The CBN assured the general public that PTA (Personal Travel Allowance) and BTA (Business Travel Allowance) remain available through banks for legitimate travel and business needs.”
These transactions are to be conducted at “market-determined exchange rates” within the NFEM framework.
This initiative reflects the CBN’s strategy to stabilize the FX market and manage seasonal surges in demand.
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
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