Politics
Nigerian Senate urges CBN to Relax Forex Policy
He gave this charge during a meeting with the Managing Director of the International Monetary Fund, IMF, Christine Lagarde, disclosing that small businesses were being made to suffer unnecessarily as a result of the policy.
He called on the apex bank to introduce a more flexible foreign exchange regime and reduce the present restrictions on the autonomous market, which does not allow business men bring in foreign exchange or utilise what they have in their accounts.
The Senate President had equally canvassed a similar view at a private meeting with CBN Governor, Mr. Godwin Emefiele, during which he implored him to consider the effects of the present forex regime on small businesses which were dying, following dwindling crude oil revenue.
Saraki also told Lagarde that “The IMF should support our CBN to bring in low interest loans to SMEs. We need to encourage entrepreneurs and make most of our new graduates job creators rather than job seekers. This is an area where we need the financial support and technical assistance of the IMF.”
He explained that his office had received numerous complaints from small business owners, complaining that their businesses were being threatened by the huge bottlenecks now involved in doing business.
“As legislators, we play an important role in making our people understand IMF’s advice, policy trade-offs, consultations and other engagements, so that ownership, transparency and accountability are brought to bear on economic policy choices.
“The Nigerian legislature strongly believes that having a collaborative working relationship with the Executive Branch of government brings development closer to the people.
“Since the advent of the new administration, we have worked closely to stabilize the economy and steady the fiscal environment. This, we have indeed demonstrated by the speedy passage of the Medium Term Expenditure Frame Work (MTEF) and recently in the postponement of our recess in order to receive President Muhammadu Buhari to present the 2016 Appropriation Bill.
“The purpose of our Legislative Agenda is to enable us focus our lawmaking in areas that will help create jobs, expand our infrastructure base and make our economy work for the benefit and happiness of the majority of our people.
“Pivotal to the attainment of this objective is the state of the Nigerian business environment. In collaboration with major stakeholders, the 8th Senate is presently signing a memorandum of understanding on Enhancing Nigerian Advocacy for Better Business Environment Project, a National Assembly business and investment roundtable initiative, with developmental organizations”, the Senate President said.
The Senate President used the occasion to call on the Central Bank of Nigeria (CBN) to ensure that in reacting to recent developments in the economy, it does not devalue the Naira for the mere sake of devaluation.
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“Political Hushpuppi” Ugochinyere is one of PDP’s aberrations, he is only cashing out – Wike’s Aide
Lere Olayinka, Senior Special Assistant on Public Communications and New Media to the Minister of Federal Capital Territory (FCT), Nyesom Wike, has described House of Representatives member from Ideato North and South Federal Constituency of Imo State, Imo Ugochinyere Ikeagwuonu, as a “political hushpuppi” who was produced by part of the aberrations in the People’s Democratic Party (PDP) that must be made to stop.
Olayinka, who told Ugochinyere to “stop going about masturbating about anything Wike,” admonished him to face the reason for which he was elected into the House of Representatives so that his constituents will stop seeing him as a failure and consistently passing votes of no confidence against him.
While featuring on Channels TV’s Politics Today on Friday, Ugochinyere, had said that the FCT Minister and other G5 Governors like Governor Seyi Makinde of Oyo State, former governors Samuel Ortom (Benue), Ifeanyi Ugwuanyi (Enugu) and Okezie Ikpeazu (Abia) were determined to destroy the Peoples Democratic Party (PDP).
However, in a statement in Abuja on Saturday, Olayinka said; “This is one of the things you get when people who joined the PDP today are awarded the ticket of the party tomorrow morning. If not for the aberration in the PDP that produced a character like Ugochinyere, someone who only joined the party in 2022 won’t be the one to lecture us about who is loyal to the party and who’s not.
“If PDP had functioned properly, would a ‘political hushpuppi’ like Ugochinyere have gotten the party’s ticket while still in another party? Even till today, as a PDP Rep member, Ugochinyere is still holding on to his Action Peoples Party (APP), using it to cash-out in Rivers State.
“Therefore, we on this side are not bothered because we understand why Ugochinyere must now mount the podium and accuse Wike of playing childish and kindergarten politics. He must satisfy those feeding him from the resources of Rivers State.”
While mocking Ugochinyere for always having an organization to speak for to carry out his political hustle, Olayinka said; “In saner climes, such character would have been arrested, tried and jailed for impersonation.
“When he got to the House of Representatives and there was no title under which his political hushpuppism would continue, he awarded to himself a non-existing title of ‘Spokesperson of Opposition Lawmakers Coalition in the 10th National Assembly,’ claiming to have been so appointed by the Coalition of United Political Parties (CUPP).
“But the questions are, is CUPP a political party with members in the House of Representatives? Where and when was CUPP registered? Apart from the positions of Minority Leader, Deputy Minority Leader, Minority Whip and Deputy Minority Whip, is there anything like spokesperson of opposition lawmakers in the National Assembly?
“Being a political hustler that he has always been, Ugochinyere, knew that he will be contravening the rules of the National Assembly by allocating to himself, a non-existing position, but he just must have a title to keep his hustle going, and indeed, it has been booming.
“Impersonating as spokesperson of opposition lawmakers in the House of Representatives, Ugochinyere has been cashing out in Rivers State in particular. If he is not using his former party, APP, to cash-out, he will be using his amorphous opposition lawmakers to chop from inside the Rivers.”
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‘‘Not an inch of our land will be ceded to Lagos, Ondo” – Gov Abiodun
Ogun Governor, Dapo Abiodun, has assured the people of Waterside Local Government that his administration would not cede any part of the state to other states in the country.
Governor Abiodun gave the assurance at a meeting with representatives of the local government, made up of traditional rulers, technocrats, and prominent government functionaries, at Government House, Abeokuta.
The former Commissioner for Education, Science and Technology, Prof. Segun Awonusi, said the governor has taken note of reported incursions into parts of the state from neighbouring states and has taken steps to address the issue.
Prof. Awonusi said: “We have come here to discuss the affairs of the local government with the governor. We appreciate him for what he has done so far, and we urge him to do more.
“Because of reports of incursions from Lagos and Ondo states on Ode-Omi and Makun to seize parts of our land, the governor has promised that he will ensure that not an inch of Ogun State is lost to any other state.
“He has also promised to provide adequate security so that our people can live in peace.”
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Governor Alia and the 19 States’ Suit Against EFCC, ICPC and NFIU
Two days ago, Benue State Governor, Rev Fr Hyacinth Alia, suspended the State Attorney General, Barr. Fidelis Mynin.
His Offense? The Attorney General joined the suit challenging the legality of EFCC, ICPC and NFIU without INFORMING the governor.
Benue State joined the suit on October 8, 2024, with 14 other States. This was widely reported in the media.
On October 22, the matter came up again at the Supreme Court.
On Wednesday, October 23, Benue State Governor suspended the Attorney General of the State, claiming that he was not aware of the State joining the suit.
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