News
Tinubu Lists Six Ways To End New Naira Woes
Published
1 year agoon
By
EditorThe All Progressives Congress presidential candidate, Bola Tinubu, has advised the Central Bank of Nigeria on ways to bring succour to Nigeria over the naira redesign policy.
In a statement on Sunday, the former Lagos State governor said it was important for the apex bank to restore hope in the country by implementing workable steps to ease the accompanied woes of the policy.
The APC presidential flag bearer, who suggested six ways the CBN could adopt to douse the tension, said it was important for the apex bank to work on a template that could ease the pain being experienced by Nigerians.
To bring immediate relief to Nigerians, Tinubu urged the CBN to consider the following measures:
READ ALSO: New Naira Policy: Police Beef Up Security In Banks, ATM Points In Bayelsa Over Destruction
1. Following the advice of the Council of State, the CBN should announce that the old and new naira notes (especially the non-withdrawn notes and coins) will co-exist as legal tender for the next 12 months to follow examples of countries that have successfully implemented similar monetary policy. This will immediately remove growing tension in the country, eliminate panic reactions by the populace and allow time to scale up infrastructural gaps around alternative payment options to cash.
2. We advise the immediate suspension of associated charges on online transactions and bank transfers and payments via POS until the current crisis is fully resolved. This cost should be considered a roll-out expense by the CBN to incentivise the envisaged shift to alternative transaction channels; for both the financial services consuming public and those in charge of implementing the scale-up programme.
3. Mobilise all Money Deposit Banks, Payment platforms to show clear commitment and timelines on expanding their infrastructure and support services.
4. Bring in Fintech companies with capabilities into currency swap programme for the next 90 days to help decongest banking halls and ATM points where people line up for hours.
READ ALSO: Naira Redesign: Malami Public Enemy, APC PCC Slams AGF
5. The Central Bank and other relevant MDA’s should form an Inter-Agency Action Committee for immediate oversight over the cash supply gaps from the Nigerian Security and Minting Company and deal with issues around capabilities and turn around time to meet the needs of the informal sector and unbanked people.
6. The CBN, National Orientation Agency and Ministry of Information, State and Local Governments with their relevant organs in both the public and private sectors should commence a major public enlightenment and sensitisation campaign to further educate and empower our people on the new naira and cashless policy for better understanding and mainstream adoption.
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News
243 Passengers Cheat Death As Air Peace Plane Makes Emergency Landing At Lagos Airport
Published
42 mins agoon
April 25, 2024By
EditorAn Air Peace plane coming from Port Harcourt made an emergency landing at the Murtala Muhammed Airport, Lagos, on Thursday after the pilots noticed a fire warning indicator in the cockpit.
The aircraft, which had 243 passengers and 12 crew members on board, landed safely at 4:45pm on Runway18L of the Lagos airport.
The pilots immediately shut down the engines of the aircraft after fire fighting personnel reportedly observed smoke on the engines.
The call sign of the aircraft is: APK7193.
READ ALSO: JUST IN: Aircraft Belonging To Dana Air Skids Off Lagos Airport Runway
Air Peace, in a statement, said it was later discovered that the fire warning noticed in the cockpit was false.
The statement was titled, “Notification of false fire alarm on Port Harcourt-Lagos flight.”
It reads, “We wish to inform the flying public of an incident that occurred during our Port Harcourt-Lagos flight P47193 of today, April 25, 2024.
READ ALSO: BREAKING: FG Grounds Dana Air Operations After Lagos Airport Incident
“Some minutes before landing, our Captain noticed a fire warning indicator in the cockpit. The pilots performed all safety precautionary measures, and the fire indicator went off. The Captain immediately notified our Operations Control Centre in Lagos at 17:37 hrs.
“It was determined upon landing that the alarm was falsely triggered as there was no fire event. The aircraft landed safely, and all passengers disembarked normally.
“We want to reassure the flying public that safety remains our utmost priority, and we are unwavering in our commitment to it.”
News
Citizens Groan As Petrol Sells For Over N1000 Per Litre In Kaduna
Published
2 hours agoon
April 25, 2024By
EditorThere was acute fuel scarcity in Kaduna metropolis on Thursday, as majority fuel stations were not dispensing fuel, leaving those selling at the black market hiked the price to over N1000 a litre of petrol.
The situation caused hardship on computers, as many were seen trekking to their various places of destination due to sudden hike in transport fare.
Two State University students, Ahmad and Shehu said before the scarcity, they paid N200 fare from Kawo to the Kaduna State University but now it’s between N300 to 400.
READ ALSO: Again, FG Talks Tough, Threatens To Revoke Lokoja-Benin Road Contract
“Many have resorted to trekking in order to reduce the distance, but the hot weather has not made it easy,” said Shehu.
Major roads had fewer vehicles as the situation had made car owners to park their vehicles until the fuel situation becomes affordable.
However, there was a long queue at a fuel situation dispensing petrol in Kaduna North, where it was alleged they hiked the pump price to between N750 and N810 per litre.
READ ALSO: EFCC Withdraws Appeal Against Former Kogi Gov, Bello
A journey that previously cost N150 from Signboard Junction to the Central Market, was hiked to between 200 to 250 by the commercial operators due to the scarcity.
Malam Sabo, a commercial bus driver said he bought fuel at the black market for N1,200 per litre, and he could only make a profit if he increased the transport fare.
VANGUARD
The Federal Government on Thursday said that the Labour Employment and Empowerment Programme (LEEP), a flagship of the Federal Ministry of Labour and Employment, is capable of creating at least 2.5 million direct and indirect jobs for Nigerians.
The government explained that LEEP targets zero hunger, zero poverty economic growth and decent jobs through six strategic initiatives which are digital skills initiative, vocational entrepreneurship skills programmes, infrastructural upgrade, NELEX upgrade for employment acceleration, global remote work initiative and labour compliance enhancement.
Speaking at the unveiling of the programme in Abuja, the Minister of State for Labour, Nkeiruka Onyejeocha, urged development partners such as the World Bank, GIZ, the European Union, UNIDO and the Bank of Industry to support the drive of the current administration to mitigate the hardship Nigerians were undergoing.
READ ALSO: Again, FG Talks Tough, Threatens To Revoke Lokoja-Benin Road Contract
Insisting that poverty could be eradicated in the country, the Minister said that her ministry has so many structures that could take care of all the issues mostly neglected in Nigeria if they were ignited.
She said six out of the eight agendas under President Bola Tinubu’s Renewed Hope Agenda are under the labour ministry, adding that it was time to take deliberate actions and think out of the box to make life more meaningful for Nigerians.
The Minister expressed optimism that within four years about one million jobs should have been created through LEEP.
According to Onyejeocha, “We are in a position where we need to reposition the labour ministry. The world is moving towards technology and digitalisation and we don’t want to be left behind.
READ ALSO: EFCC Withdraws Appeal Against Former Kogi Gov, Bello
“We can’t do it alone and so we need to partner with you to help us succeed in the country. Mr President during his campaign was clear about where he wanted to take Nigeria. Today we want to be deliberate, and accurate to key into the renewed hope agenda and we want to solicit your support to help us in achieving our key performance index.
“The ministry is out to make sure poverty is reduced if not totally eradicated through job creation. If we create enough decent jobs it will reduce a lot of the problems we have today including insecurity.
“We want to make sure Nigeria have food to eat, ensure regulation and workers welfare. Also, empowerment is very critical so we are going to be very deliberate to empower people with what they can use to start up their own business and become employers of labour.
“When you do this deliberately, poverty will be reduced, empowerment will be real and training will be impactful.”
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