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.
News
Wole Olanipekun, Taiwo Oyedele Urge South-West Governors to Maximise Tinubu Presidency for Regional Growth
Senior Advocate of Nigeria (SAN), Wole Olanipekun, and Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, have called on South-West governors and political leaders to fully leverage President Bola Tinubu’s administration to drive accelerated development across the region.
The duo made the call on Monday in Akure, Ondo State capital, while speaking at a public lecture organised as part of activities marking the 50th anniversary of Ondo State’s creation.
They stressed that the South-West must prioritise massive investments in infrastructure, industrialisation, and economic reforms during Tinubu’s tenure to secure long-term regional prosperity.
Olanipekun cautioned that the political advantage of having a South-West president is temporary, noting that President Tinubu’s tenure will come to an end after his second term in 2031.
According to him, the region must act decisively within this window to strengthen its economic base and ensure sustainable development beyond the current administration.

News
BREAKING: Malami Tells Court He Earned ₦12bn+ Legitimately, Seeks Release of Seized Properties
Former Attorney-General of the Federation, Abubakar Malami (SAN), has disclosed details of his earnings while asking a Federal High Court in Abuja to set aside an interim order authorising the seizure of 57 properties allegedly linked to him.
Malami made the disclosure through his counsel, Joseph Daudu (SAN), in a motion on notice filed before the court. The application seeks to vacate an interim forfeiture order affecting three of the 57 properties currently under investigation by the Economic and Financial Crimes Commission (EFCC).
According to the court filing, Malami stated that he had fully and transparently declared his sources of income in his asset declaration submitted to the Code of Conduct Bureau (CCB).
The document outlined multiple income streams, including:
₦374.63 million earned from salaries, estacodes, severance allowances, and related entitlements.
₦574.07 million generated from the disposal of personal assets.
₦10.01 billion recorded as turnover from private business ventures.
₦2.52 billion issued as loans to various businesses.
₦958 million received as traditional gifts from personal friends.
₦509.88 million realised from the launch and public presentation of his book titled “Contemporary Issues on Nigerian Law and Practice: Thorny Terrains in Traversing the Nigerian Justice Sector – My Travails and Triumphs.”
Malami’s legal team argued that the declared earnings sufficiently explain the source of funds used to acquire the properties in question, urging the court to lift the interim seizure order.
The matter remains pending before the Federal High Court as the EFCC continues its forfeiture proceedings.



Politics
Atiku Hosts Action Democratic Party Chairman at Abuja Residence Amid 2027 Opposition Alliance Building
Former Vice President Atiku Abubakar hosted a high-level meeting with the National Chairman of the Action Democratic Party, Engr. Yabagi Yusuf Sani, and other senior party executives at his residence in Abuja on Saturday.
The closed-door meeting signals intensifying efforts by opposition leaders to forge broader alliances across multiple political platforms ahead of the 2027 general elections, beyond the African Democratic Congress coalition where Atiku currently serves as a prominent figure.
While specific details of the discussions remain undisclosed, political observers interpret the engagement as part of Atiku’s strategic outreach to expand the opposition base by building bridges with smaller parties that could provide critical support in key battleground states.
The meeting comes at a time when opposition forces are exploring various partnership configurations aimed at presenting a united front against the ruling All Progressives Congress in the next electoral cycle.
Atiku’s dual strategy of leading the ADC coalition while simultaneously engaging leaders of other opposition parties reflects the complex political calculations required to build a winning electoral platform capable of unseating President Bola Tinubu.
The Action Democratic Party, though relatively smaller compared to major platforms like the Peoples Democratic Party and Labour Party, commands grassroots presence in several states and could prove valuable in close contests where marginal votes determine outcomes.
Political analysts note that successful opposition collaboration in 2027 will require not just high-profile coalitions among former governors and presidential candidates, but also tactical alliances with regional parties that control voting blocs in strategic constituencies.
Atiku has been particularly active in recent weeks hosting various political stakeholders at his Abuja residence, including delegations from Kebbi State ADC members and other opposition figures exploring partnership possibilities.
The 78-year-old politician, making what would be his seventh presidential run, has positioned himself as the unifying figure capable of bringing together Nigeria’s fragmented opposition under a common platform.
However, the opposition alliance-building faces significant challenges, including disagreements over presidential ticket arrangements, with Peter Obi’s supporters rejecting suggestions that he should serve as running mate to Atiku in any joint candidacy.
The internal tensions within the ADC coalition, combined with parallel negotiations involving multiple smaller parties, have raised questions about whether opposition forces can overcome personal ambitions and regional calculations to present a cohesive challenge to the APC.
Observers also note that while these elite-level negotiations generate headlines, converting party leadership agreements into actual grassroots voter mobilization remains the ultimate test of any opposition alliance strategy.
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