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Monday, December 11, 2023
Rape Epidemic Must End In Ekiti, Says First Lady.
President Tinubu: The Battle To Keep Nigeria Secure Is One I Will Not Lose.
President Tinubu: The Battle To Keep Nigeria Secure Is One I Will Not Lose.
President Bola Tinubu says he will continue to work assiduously and provide the military with the necessary support to keep the troublers of the nation at bay.
Speaking at the Chief of Army Staff Annual Conference 2023 in Maiduguri, Borno State, on Monday, the President said he has no intention of relenting or resting on his laurels in securing Nigeria, declaring that he will win the battle to keep Nigeria safe.
President Tinubu, who acknowledged the Nigerian Army's commitment to national security, asked the army to remain non-partisan but vigilant in upholding democratic principles, emphasizing their role as a guardian of constitutional order during elections.
"The professional conduct of the Armed Forces during the elections in Bayelsa, Imo and Kogi States underscores your role as a guardian of our constitutional order and democracy precepts. In this regard, the Nigerian Army must remain completely non-partisan but vigilantly pro-democracy.
"We also note with great satisfaction the many civilian-military projects across the country, some of which will be commissioned during this Conference.
"These projects not only bring the military and civilian population into closer affinity and mutual understanding, they also serve the practical purpose of tangibly improving the living conditions of the people," the President said.
Citing the recent procurement of new aircraft as a testament of his resolve to upgrade national defence capability, President Tinubu also affirmed his administration’s commitment to advancing the ongoing modernization process within the military, with a focus on improving mobility, communications, and offensive striking capabilities.
The President, while expressing the nation's gratitude for the service and sacrifice of the armed forces, recalled his earlier approval of N18 billion in Group Life Assurance benefits for families of fallen heroes, even as he pledged continuous government support for the welfare of serving personnel and their families.
The Minister of Defence, Mohammed Badaru Abubakar said the President's new approach to empowering the force and enhancing intra-military collaboration has led to a substantial increase in morale for the armed forces.
"Mr. President, you are a man of your word. Your Renewed Hope agenda assured Nigerians of progress in the fight against insecurity. The men of the armed forces are more committed than ever before. They see the progress they recording. They know the damage they are inflicting on our enemies. They have high morale. Our enemies do not because of your leadership. Thank you, Mr. President," the Minister stated.
He pledged to sustain his support for the Nigerian military in the provision of infrastructure while acknowledging the unalloyed commitment of the Tinubu administration to substantial investments to enhance the operational capabilities of the military.
The Chief of Army Staff, Lieutenant General Taoreed Lagbaja, informed the President that ongoing military operations in different parts of the country have significantly weakened criminal elements, while checkmating farmer-herders crises in various parts of the country.
"Notwithstanding these achievements, we recognize the importance of continuous evaluation and this conference will be instrumental in formulating long-term strategies to bolster our ability to carry out our constitutional responsibility in the year 2024," the Army Chief said.
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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.
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“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)