News
Ex-finance Minister Blames CBN For New Naira Crisis

A former Minister of Finance, Dr Idika Kalu, has faulted the logistics of the Central Bank of Nigeria for the crisis that has characterized the distribution of new N1000, N500 and N200.
Speaking on Channels Television on Friday, he noted that the new naira scarcity was a result of a huge logistic mistake.
He said, “It is obvious that what we are dealing with is huge logistic mistakes that have been made.”
READ ALSO: Naira Scarcity: Protesters Attack Banks In Lagos
Kalu added that the CBN ought to have done its preliminary assessment of how long and what it would take to ensure the efficient distribution of the new notes.
“You have to assess the timing, which is predicated on how long it will take to do the exercise that you want to do. So, that is where it is really up to the central bank and its advisers to come up to the government to say, you have agreed we will do this. This is how much time we need, every aspect of it, procuring the papers for printing, whether it is imported or locally made, the printing process itself, the logistics of identifying the various constituencies, the banks, the communities, the rural areas and all segments of this country.
“The people are not interested in all these details but you have to take into account how you are going to deliver. Is it by air, road, train or a combination of all that?,” he added.
He explained that the reason the new notes were not in banks when people needed them was due to poor logistics.
“The logistics have to be very carefully put together. It is very apparent that we did not do that. I think the logistics are really the problem not the question of jurisdiction,” Kalu noted.
He further faulted the CBN’s reasons for redesigning the old notes, stating that countries don’t change their currencies because they want to improve the effectiveness of monetary policies.
He also noted that there were other policies that the CBN and the Federal Government could have introduced if they wanted to tackle corruption and the high amount of currency in circulation.
Kalu also said that the naira redesign plan of the CBN would likely lead to a contraction in the economy.
READ ALSO: VIDEO: Protest In Ibadan Over Naira Scarcity, Gunshots Heard
He further questioned the metrics of inflation used to measure the effectiveness of the naira redesign policy.
“If you curtail the money supply, it will bring down inflation. But they will have to check on what it does to production and employment. So, it is not a one-dimensional measure of success,” he said.
He further described the naira redesign policy of the CBN as draconian, noting that there was something wrong with what the CBN was trying to do.
News
Migration Agency Warns Migrants Against Irregular Travel Routes

The International Organisation for Migration (IOM), in collaboration with Giving is Healing Foundation, has sensitised residents of Ayobo in Alimosho Local Government Area of Lagos State on the dangers of irregular migration and the need to embrace legal travel procedures.
Speaking during a sensitisation programme held at Megida Ifelodu Community Development Association in Ayobo, the founder of Giving is Healing Foundation, Mr. Gbolahan Ayediran, warned intending migrants against using illegal travel routes.
Ayediran said many Nigerians desire to migrate abroad in search of better opportunities but often ignore proper procedures, thereby exposing themselves to several dangers.
“Lots of people want to migrate and most of them do it in the wrong direction. The reason for the programme is for us to advise people on how they can migrate in the right way. As much as migration is their right, they should do it correctly,” he said.
READ ALSO:How Wike Rescued Me From Political Oblivion — Oshiomhole
He advised intending travellers to obtain the necessary travel documents before embarking on any journey, noting that such documents include international passports, visas, flight tickets and yellow cards, depending on the destination country.
According to him, migrants should also gather adequate information about their destination countries to enable them make informed decisions before travelling.
Ayediran further highlighted some of the dangers associated with irregular migration, including abuse, exploitation, discrimination and forced labour.
Also speaking, the Chairman of Megida Ifelodu Community Development Association, Elder Mathews Amusan, commended the organisers for enlightening members of the community on safe migration practices.
READ ALSO: He Can’t Fix His Party Let Alone Nigeria – Oshiomhole Blasts Atiku
He urged residents planning to travel abroad to always follow legal migration procedures to avoid falling victim to human trafficking and other migration-related challenges.
One of the participants, Mr. Kolawole Adenoko, said the programme enlightened him on the dangers of irregular migration and the importance of travelling through the proper channels.
He added that he would also educate his relatives and friends on the risks associated with illegal migration.
News
Shatta Wale Bailed Burna Boy From Ghana Prison After Arrest For Smoking Weed – Captan

Ghanian singer, Captan, has claimed that his former record label boss, Shatta Wale, once bailed Nigerian singer Burna Boy out of prison in Ghana after he was allegedly arrested for smoking weed.
Speaking in a recent podcast interview, Captan claimed that Shatta Wale sent him and others to free Burna Boy from police custody.
He also claimed that Shatta Wale and his group once accommodated Burna Boy when he was being hunted by some dangerous men.
READ ALSO: Wale Edun Opens Up After Sack
Captan said, “I once bailed Burna Boy out of prison in Ghana when he was arrested for smoking weed. Shatta Wale sent me and some guys to go and free him from police custody.
“There was a time we also accommodated him when some people were after his life. We helped him settle the case.”
He added that he and Burna Boy are no longer in good terms after the Nigerian artist’s fallout with his mentor, Shatta Wale.
He, however, said he and Shatta Wale are open to reconciling with Burna Boy if he asks for it.
Watch the video here
News
Children’s Day: Chaos At Ogbe Stadium As Dozens Faint

Chaos erupted on Wednesday during the Children’s Day celebration as dozens of students reportedly collapsed following a stampede triggered by the use of pepper spray.
The event,
organised by the Edo State Ministry of Education at the Samuel Ogbemudia Stadium was disrupted after some male students of Ihogbe College allegedly made uncompromising advances towards female students at the venue.
A parent who identified himself as Oboh Emmanuel said, “the behaviour of those uncultured students attracted the attention of bouncers stationed at the stadium as they rebuked the male students.”
Oboh said the affected students later regrouped and attacked the bouncers, leading to a confrontation within the crowded arena.
READ ALSO:Children’s Day: Edo Commits To Child Protection
It was gathered that in the ensuing confusion, the bouncers were reported to have deployed pepper spray in an area occupied by a large number of students.
Several students, particularly female students, reportedly fainted after inhaling the substance, while others sustained injuries after being stepped on during the ensuing melee.
The panic was said to have spread across the stadium as students, teachers and parents scampered for safety.
Many of the affected students were reportedly rushed to the Edo Specialist Hospital for medical attention.
READ ALSO: Egor LG Chair, Ogbemudia, Vice, Osawe Impeached
Reacting to the incident, Chief Press Secretary to Governor Monday Okpebholo, Dr Patrick Ebojele, said the security personnel that fired the tear gas had been detained.
He said all the students, except two, that were rushed to the hospital have been discharged.
Ebojele stated that doctors wanted to observe the students till tomorrow before allowing them to go home.
“The two students are not seriously injured. Doctors want to observe them overnight. Permanent Secretary, Ministry of Education is still at the hospital. The man who used pepper spray has been detained.
“The incident did not happen the way it is being exaggerated. All modalities were put in place to ensure the children enjoyed their day.”
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