Why I’m the envy of many presidents of the world – Buhari – Newstrends
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Why I’m the envy of many presidents of the world – Buhari

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President Muhammadu Buhari

President Muhammadu Buhari says the support his government has received from the private sector in addressing social ills is enough to make him the ”envy of many presidents of the world”.

The president stated this on Wednesday in Abuja while inaugurating and handing over of security equipment valued at over N12 billion to the military and Nigeria Police Force.

The items were donated by the Coalition of Private Sector Against COVID-19 (CACOVID) – a group of eminent Nigerian industrialists, including Aliko Dangote and Herbert Wigwe, who had also pooled N40 billion to combat COVID-19 in the country.

”Today is indeed a very happy day for all Nigerians, and I can happily say that I am the envy of many Presidents in the world.

”I am exceedingly honoured to be the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria at this time.

”I am gratified to have the honour of leading a country whose private sector willingly galvanises itself to raise funds to enthusiastically support government in resolving social ills.

”I am proud to say that there is nowhere in the entire world, except in Nigeria, where the private sector has voluntarily come together to assist government efforts,” he said.

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Buhari, on behalf of the Nigerian populace, thanked all members of CACOVID, the leadership team and technical committee for their support and patriotism.

”This final gesture from CACOVID as you wind down your activities is equally very important.

”Thank you for supporting our Administration’s efforts to strengthen the Police and Military as we face the security challenges that all modern nations face.

”These 350 vehicles and thousands of vests and helmets you are handing over today will go a long way in boosting the capacity of our forces,” he said.

According to the president, such a patriotic gesture is proof that nationalistic determination is still alive in Nigeria, in the face of enormous challenges pervading the world and the country.

While recounting the history of CACOVID, the president said the initiative was set up following a quick-thinking recognition of the impending crisis that could erupt due to the outbreak of the COVID-19 pandemic in 2020.

”The main objective of this concept was primarily to assist the government, at all tiers, in combating COVID-19 and mitigating its impact on Nigerians.

”Accordingly, the Coalition designed a mechanism to pool funds voluntarily from an alliance that included more than 100 private sector institutions, organisations, banks and individuals.”

He said, this was meant to build Isolation Centres, procure remedial COVID-19 medications and provide palliatives to indigent Nigerians or those whose livelihoods were temporarily impacted by the outbreak.

”I am very much aware that in the first tranche of funds pooling, CACOVID collected almost N40 billion from the various private sector organisations who were more than happy to participate in the initiative and support its cause.

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”Out of the initial N40 billion contributed by the Coalition, about N17 billion was applied to speedily build Isolation Centres, acquire various medical equipment and gears, facilitate vaccine delivery and urgently procure vital COVID-19 medications for those critically in need of them nationwide.

”The balance sum of N22.2 billion was utilised to purchase staple food items, including rice, Garri, noodles, Soya, Semolina, Sugar, Pasta and Salt, etc, which were delivered to all states of the federation and the FCT, and distributed among all Nigerians who were in most need of them,” he said.

According to the president, in its drive to play its part in ensuring a golden Nigeria, CACOVID, which also received the support of the Central Bank of Nigeria, expanded its scope beyond combating COVID-19.

He added that following the unsavoury national unrest in 2020 and the continuing security challenges in the country, the Coalition again galvanised support among private sector organisations to support the Federal Government in surmounting the security challenges.

”In this regard, the Coalition commendably raised the sum of N12 billion, which was used to procure critical security equipment for our domestic law enforcement and defence organisations,” he said.

The following state-of-the-art security vehicles and equipment were procured for use by law enforcement agencies in Abuja and Lagos:

One hundred units of 14-tons Tata trucks; One Hundred units of 12 tons Tata trucks; 106 units of Toyota Vans; 64 units of Nissan Navara vans; 13,000 Ballistic Vests; 26,000 Ballistic Plates and 13,000 Ballistic Helmets.

Alhaji Dangote listed Folorunsho Alakija, Tony Elumelu, Segun Agbaje, Abdulsamad Rabiu, Femi Otedola, Adesola Adeduntan, Karl Toriola, Haresh Aswani, Raji Gupta and John Coumantaros as the moving forces behind CACOVID.

He said the affected personalities had contributed several billions of Naira each and supported the CACOVID effort with advocacy and their teams.

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He explained that in addition to the leadership team, a technical committee was constituted to guide the purchasing decisions, which was critical, given the prevailing confusion around testing and treatment options, and the lack of successful models anywhere in the world.

He identified members of that committee as leading Nigerian scientists and public health professionals, the Director-General of Nigeria Centre for Disease Control (NCDC), Director-General of the Presidential Task Force on COVID-19, representatives of WHO, Bill and Melinda Gates Foundation, and the United Nations.

”For the last two years, the leadership team met on a weekly basis, mobilised others in the private sector, and were able to raise N82 billion to provide 39 fully kitted isolation centres, testing supplies for almost 1 million tests and food for 10 million vulnerable individuals across the country.”

Dangote added that from the N82 billion, the CACOVID team also donated oxygen and tanks to the most affected states and supported vaccines delivery and distribution.

He said the team also supported the reopening of the economy via travel portal, IT, airport scanners and Personal Protection Equipment (PPE), among others.

He expressed appreciation to the Presidential Taskforce on COVID-19 team led by Boss Mustapha, the Secretary to the Government of the Federation (SGF), for their excellent collaboration.

He announced that the donation of the security vehicles and equipment marks the end of the CACOVID initiative, which he described as ”an example of patriotism, solidarity and efficiency in terms of partnership between the public and private sectors.

”This is a lesson in the power of collaboration for a worthy cause,” he declared.

Mr Godwin Emefiele, the CBN Governor, told the President he was proud to be part of the Coalition that supported government in its fight against insecurity.

”I am immensely gratified by what CACOVID has achieved in its few years of existence. The nationalist and patriotic drive of my colleagues therein is unmatched anywhere in the world and must be applauded.

”The Coalition is a good example of what Nigeria must become: a nation of patriotic solidarity of individuals and corporations, and effective collaboration of the public and private sectors,” he said.

The inauguration and handover of the security equipment event preceded the Security Council meeting chaired by Buhari.

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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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