skymediaconsults.blogspot.com
Monday, December 11, 2023
Borno Visit: President Tinubu Grieves Over Kaduna Bomb Victims At Shehu's Palace.
Cash scarcity: CBN suspends processing fees on cash deposits.
Cash scarcity: CBN suspends processing fees on cash deposits.
In a bid to alleviate the ongoing cash scarcity crisis in Nigeria, the Central Bank of Nigeria (CBN) has announced the temporary suspension of processing fees on cash deposits exceeding certain thresholds.
This suspension, which takes effect immediately and will remain in place until April 30, 2024, aims to incentivize cash deposits and enhance financial transactions for individuals and businesses.
Previously, individuals were charged a two percent processing fee on cash deposits above N500,000, while corporate entities faced a three percent fee for deposits exceeding N3,000,000.
The directive, signed by Dr. Adetona S. Adedeji, Acting Director of Banking Supervision, mandates all CBN-regulated financial institutions to comply. This means individuals and businesses can now deposit any amount of cash without incurring additional charges.
A CBN official told The Nation that “this measure will address the immediate cash shortage by encouraging the deposit of available cash into the formal banking system. This will increase the liquidity available for withdrawals and economic activity. Additionally, it promotes financial inclusion by making banking services more accessible to individuals who primarily rely on cash transactions.”
However, concerns remain about the potential for fueling inflation and illicit financial activities due to the processing fee suspension. Experts emphasize the need for the CBN to closely monitor the impact of this measure and implement appropriate mitigating measures if necessary.
The Nation has also reliably gathered that to address the current cash crunch in the country, the CBN has started deploying cash from its branches across the country to locations in dire need of cash.
Another CBN official revealed that “efforts are currently being made to move cash to where the scarcity is hardest.”
He reiterated that the CBN has sufficient cash to meet the transaction demands of cash-using members of the public.
He attributed the biting cash crunch to the panic withdrawals of cash by Nigerians ahead of the yuletide to forestall the experience of the last year.
The CBN’s latest directive and action to deploy cash to needy areas demonstrates its commitment to addressing the current cash scarcity crisis while promoting a cashless economy and ensuring a robust and inclusive financial system.
The suspension of processing fees on cash deposits is expected to provide immediate relief to individuals and businesses affected by the cash shortage, boosting economic activity and access to financial services in the short term.
FG to get Nigeria’s 20m out-of-school children to school.
FG to get Nigeria’s 20m out-of-school children to school.
Prof. Tahir Mamman, the Minister of Education, said this on Monday at the 2024 budget defense before the joint committee of the National Assembly on Education in Abuja.
He said that there were millions of out of school children in Nigeria saying that it was a major problem for the country.
‘’At the tertiary level, we need graduates who have skills and competence to be able to contribute to national development.
‘’We need graduates who can be employed by willing employers, right now we have that complain on the quality of the products from our universities and polytechnics.
“Basically the policy trust of the government and this ministry is on these major areas. There are about 20 million out-of-school children or even more in Nigeria.
“We are working on it to ensure that as many as possible of these children, for those of them that can come back to school are given the opportunity to come back,’’ he said.
Mamman added: “For those who cannot, we want to ensure they are empowered though short term skills training that will give them the opportunity to connect with the society to have a meaningful likelihood.”
The minister said that the ministry had engaged with stakeholders to review Nigeria’s school curriculum to ensue skills acquisition for students.
He encouraged universities to include skills training, and entrepreneurship into their curriculum to ensure that they produced self-reliant graduates.
Mamman said that a total of N101.45 billion was allocated for the ministry it 2024 out of which N5.88 billion was for personnel cost, N1.08 billion for overhead cost and N94.48 billion for capital expenditures.
The Chairman, House Committee on Alternative Education Rep. Aliyu Mustapha, said that the House was concerned by the rising number of out-of-school children in Nigeria.
Read Also: Carving a brighter future for out-of-school children
“I am happy that the minister has highlighted out-of-school children, youth and adult literacy in the ministry’s programme and vocational training that has taken the centre stage.
“In the 2024, we have seen that you are still limited by funding, the National Assembly is doing its best to see that those allocations are raised,” he said.
Alliyu assured of the required support to the ministry and oversight where necessary to ensure proper implementation of programmes.
(NAN)
I Won't Tolerate Financial Indiscipline, Ineptitude in Councils - Oyebanji.
Sunday, December 10, 2023
Adopt Constitutional Solution, As Omoluabi Group Beg Tinubu to Sanitize Ondo State Now.
Adopt Constitutional Solution, As Omoluabi Group Beg Tinubu to Sanitize Ondo State Now.
The recent happenings in Ondo State is fast becoming an eyesore and a complete show of constitutional manipulation and total lack of respect for the good people of Ondo State.The original owners of Ondo State who are indigenes are on a daily basis being short changed and deceived by the political actors whom themselves have chosen through the ballot to provide leadership through good governance.
Today the scenario is synonymous to things falling apart as described by the late writer and literary giant, Chinua Achebe. The centre definitely can no longer hold as there are now clear evidences of multiple cracks on the walls of the Alagbaka house, which is the seat of Ondo Sate Government under the watch of a Governor and his embattled Deputy Governor. You cannot beat or suppress the truth. How hard you may try, the truth will definitely prevail.
The bitter experience in this whole issue is that the indigenous people of Ondo state are at the receiving end. Their patience have been taken for granted, their humility have been taken for foolishness, their perseverance and tolerance in the face of this cold war between the political gladiators who are suppose to be the people ' s servants is fast making the people complete loosers.
There are several questions that need to be asked and requires to be answered by those our people voted for under the APC Akeredolu - Led Government. We cannot continue to pretend that all is well in Ondo State for the past two to three months now. There are serious administrative gaps and the arrow head is unheard and unseen. Can a plane continue to fly in the sky without a pilot? Simply No, it will definitely crash land. For how long shall we continue to watch this constitutional aberrations being committed in a state that parades so much civilized, learned and brilliant men and women as her indigenes?
Few days ago, it is the case of signature forgery, cases of disrespect to constituted authority among state excos, war of words between the state executive and the legislative arm despite the earlier intervention of Mr. President. It is clear and glaring that governance in Ondo State have been hijacked by selfish individuals who wants to milk the state treasury dry before this administration expires.
Ondo State Chapter of the Omoluabi Team Alliance Socio- cultural and Political Group have watch with interest the case of the recent happenings in Ondo State and feel the need to express absolute dissatisfactions as concerned citizens. It is in our ideology to speak truth to government at all times and speak up for equity, fairness and justice. We don't want trouble in any of the southwest states including political turmoils and brouhaha. So in circumstances like this it is in the interest of the people that we must speak.
Truth be told, the case of Ondo State requires constitutional solution since the two actors concerned swore to the Constitution. The integrity of the constitution must be preserved. The House of Assembly under the Speaker has erred in their constitutional responsibilities. Knowing the truth and shying away from it is a crime against the state anf crime against democracy. Relevant sections of the constitution has addressed this serious issue and need to be followed religiously. The only answer that is require to avert invoking the relevant section of the constitution is for the people to be addressed Mr. Governor, submit self for medical investigation, medical experts give their recommendations and make known their reports to the Ondo State House of Assembly. Where there is need to further allow Mr.. Governor rest then, the Deputy Governor who is on a joint ticket with Mr. Governor should be immediately sworn in as Acting Governor.
Omoluabi Group join voices with well meaning citizens of the sunshine state and friends of the state who have their thinking caps on and are pro- constitution and pro-people that the needful must be done to further strengthen democracy.
President Tinubu and elders in the state should adopt the Gowon Doctrine of Necessity approach which was adopted in the case of Late Musa Yar' Adua and Dr. Goodluck Ebele Jonathan scenario in averting administrative lacuna that may have caused the country a national embarrassment.
We can no longer continue to pamper and window-dress this constitutional aberration in Ondo State.
Omoluabi Team Alliance (aka Egbe Omoluabi) is a Socio-cultural and Political Group with presence across the six southwest states including Kogi and Kwara States
E- Signed:
Egbe Omoluabi
Ondo State Chapter
Email: omoluabi_teamalliance2022@yahoo.com
Popular Yoruba poet, Olanrewaju Adepoju, dies at 83.
Popular Yoruba poet, Olanrewaju Adepoju, dies at 83.
A Yoruba poet, writer, artiste and religious leader, Alhaji Olanrewaju Adepoju, is dead.
Adepoju died on Sunday at his Idi Orogbo off Ring Ring Road, Ibadan, Oyo State residence around 7 pm. He was aged 83.
His son, Adejare Adepoju, broke the news in a brief announcement on Sunday, saying “Baba has gone to rest. Inna lilahi Wa innaa ilaehi Roojiuuna. My Dad, Olanrewaju Adepoju, Rest in Peace”
He later posted another message on Facebook saying, “In memory of my beloved father, Alhaji Chief Olanrewaju Adepoju(Ewi Exponent), a passionate human rights activist, accomplished author, and gifted poet.
“His life’s work was dedicated to making our country a more just and compassionate place. As we grieve, let’s carry forward his torch of advocacy for a brighter future. Rest in power, Dad.:
Also confirming his death, the family wrote, “With heavy hearts, we announce the passing of our dear Father, Chief Mas’ud Olanrewaju Adepoju. From Allah we come and unto Him we shall all return.”
They announced that Adepoju will be buried according to Islamic rites on Monday by 11 am.
“Final prayers will be held for Baba tomorrow Monday, by 11 in the morning, at UMB Central Mosque, Old Ife Road, Gate Ibadan.
“May Almighty Allah grant our father the highest elevation in Paradise, Jannatu Firdaus!” the family said
Hajj: Saudi Arabia increases Nigeria’s tour operators to 40.
Hajj: Saudi Arabia increases Nigeria’s tour operators to 40.
The Saudi Arabia Ministry of Hajj and Umrah has increased the 2024 Hajj slots of Tour Operators from 10 to 40.
This development came following the Federal Government’s demand for an increase in the 2024 Hajj tour operators.
In September, Saudi Arabia announced that only 5% of each Hajj-participating country’s Licensed Tour Operators would be permitted to conduct the 2024 Hajj exercise.
This means that Nigeria will only have 10 slots.
However, the federal government unrelentingly engaged the Saudi Ministry over its course of promoting indigenous entrepreneurs as a tool in sustaining the country’s socioeconomic development.
Responding to the request, the Saudi Ministry in charge of Hajj and Umrah reverted the decision in Nigeria’s favour.
Consequently, the National Hajj Commission of Nigeria, in a press statement released on Sunday night, in Abuja by its assistant director of public affairs, Fatima Usara, disclosed the development.
Usara revealed the criteria for screening the earlier announced 110 qualified tour operators.
The criteria used in selecting the initial 110 tour operators included capacity of operation; years of experience; historical antecedents, and clean bill of operation.
The commission noted that the top 40 scoring by a seven-man team of experts were adjudged to qualify and were consequently approved after the evaluation of each operator’s ability, experience, and quality of services.
The Commission urged the remaining 70 that have qualified (from the 110 earlier approved) to consider aligning with the qualified 40 in the discharge of this religious obligation.
It assured that, as a stakeholder, it was desirous of ensuring that this partnership was entrenched even before the issuance of letters of approval.
In the principle of inclusivity, the Commission announced that it will soon hold a meeting with the overall 110 qualified operators to explore avenues of synergy to ensure all parties are carried along amicably.