society
Emefiele-Led CBN policies killing Nigeria’s Economy, Sack Him Now – Youth Council Tells Buhari
Emefiele-Led CBN policies killing Nigeria’s Economy, Sack Him Now – Youth Council Tells Buhari
Sahara Weekly Reports That Youth Council To #Buhari: #Emefiele-Led CBN Policies Killing Nigeria’s Economy, Sack Him Now – —The National Youth Council of Nigeria (NYCN) has blamed the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele’s poor economic management policies for the recent free-fall of the Naira.
The Naira within the week depreciated to an all-time low of N730 to a U.S dollar at the parallel market.
President of the NYCN, Comrade Solomon Adodo, stressed that statements credited to the CBN Governor alleging that the current free-fall of the Naira against other major currencies was as a result of the non-remittances of dollars to the foreign reserve by the NNPC Ltd, without highlighting the reality of the causative oil and non-oil related factors including a drop in Nigeria’s crude oil production, growing petrol subsidy, an unsustainable dual exchange rate system, reduction in foreign direct investments and growing dependence on importation across many sectors of the economy as disingenuous and unpatriotic.
The group flayed Emefiele for completely failing to concentrate on his core mandate of price stability as the apex bank’s governor, pointing out that with inflation at about 19 percent and the exchange rate nearing N800 to a dollar, the CBN Governor should be held responsible for deepening poverty in the country as he continues to work at cross-purposes at President Muhammadu Buhari’s objective of reducing poverty and growing the economy.
The statement reads: “We are all witness to the fact that from August 2020 to July 2022, the official exchange rate has moved from N381 to N415/$, representing only a nine percent increase. However, the parallel market has moved from N470 to N710 within the same period representing a 51 percent increase and a record 71 percent arbitrage with the official exchange rate creating a huge incentive for round-tripping, price gouging, sharp market practices, and inflation.
“The NYCN is therefore shocked by the comment of the Governor associating the free-fall of the parallel market rates to NNPC, even though it is purely a monetary policy issue and outside the purview of the NNPC.
“As a youth group, we have noted that the inability of the CBN to promptly release Joint Venture (JV) cash call funding from the Treasury Single Account (TSA) even when the Nigeria National Petroleum Company (NNPC) Ltd had adequate cash cover, leading to the loss of JV Partners’ confidence to restore production and reap the benefits of today’s improved oil prices.
“We are in the know that for over three months now, dollar-denominated cash call payments amounting to over $400 million, properly processed, are yet to be paid by the CBN under Mr. Emefiele.
“The combined impact of CBN’s inability to promptly release JV cash call to restore production, the increasing losses due to crude oil theft, and production deferments has culminated in significant crude oil output losses of over 600, 000 barrels per day.
“We find it curious that the apex governor seems to be unaware of the insecurity and huge oil theft in the Niger Delta which have continued to challenge the country’s oil production and the oil industry and gas industry in general. At present, there are massive losses and declaration of force majeure across the country’s major onshore production export facilities of Bonny, Brass, and Forcados.
“At the current year-to-date average crude oil price of $107 per barrel, Nigeria is counting opportunity losses translating to over $64 million per day, and a monumental impact of about $2 billion per month.
“We are taken aback that Mr. Governor is feigning ignorance that the country’s rising petrol subsidy cost, as well as the rising cost of external debt servicing, are all obligations affecting the economy. These affect the NNPC’s remittances to the Federation Account.
“From January to June 2022, the cost of PMS subsidy has reached N2.2 trillion and it is estimated that the full-year subsidy bill may hit N5 trillion and N6 trillion in 2023.
“Apart from government decision to defer the implementation of PMS deregulation, the subsidy profile is significantly influenced by CBN foreign exchange management.
“From January to June 2022, the cost of PMS subsidy has reached N2.2 trillion and it is estimated that the full-year subsidy bill may hit N5 trillion and N6 trillion in 2023.
“Apart from government decision to defer the implementation of PMS deregulation, the subsidy profile is significantly influenced by CBN foreign exchange management.
“It is however worth noting that the NNPC has recorded significant gains on production ramp-up including attaining ‘first oil’ production from the Anyala – Madu Fields and most recently Ikike fields which cumulatively boost national oil production by almost 80, 000 barrels per day.
“Furthermore, NNPC’s efforts towards attaining additional combined production of over 100, 000 barrels from fields like Obodo, Utapate etc has never abated despite the global setback recorded as a result of the effects of COVID-19 pandemic.
“History shows that Mr. Emefiele is at sea on addressing monetary policy issues. We recall that in 2021, the CBN governor blamed Aboki FX for the depreciation of the Naira. He would later blame members of the Association Bureau De Change, which led to the stoppage of dollar sales to the group. At another time, he blamed the Naira’s depreciation on activities of money laundering, terrorism financing as well as politicians.
“Furthermore, Nigerians are bearing the brunt of the inaction of the CBN Governor as the Emirates Airlines, the flag carrier of the United Arab Emirates (UAE), has reduced its flight operations to Nigeria over the inability of the CBN to repatriate about $85 million in revenue.
“Was the failure to repatriate Emirates funds also caused by the NNPC?
“The International Air Transport Association (IATA) had said Nigeria was withholding revenue worth about $450 million earned by foreign airlines operating in the country. Emirates said the planned reductions in its operations in Nigeria would take effect from August 15, 2022.
“And in a manner that fits his erratic policy, he has at present shifted all blames to the NNPC. This is clearly a case of a bad workman who blames every other person for his inability to deliver. To us at the NYCN, Emefiele is tired and should be sacked by President Buhari.
“From all indications since his failed presidential bid as well as his rejection by the All Progressives Congress, a partisan Emefiele has been doing all to rubbish the achievements of President Muhammadu Buhari and this should no longer be permitted.
“As Nigerians concerned about the future of this country and before Mr. President heeds our clarion call to send Mr. Eemefiele packing from the CBN, we advise that the CBN considers among other options the World Bank’s recommendation of adopting a single market-responsive sustainable exchange rate, improving access to forex through well-defined periodic forex auctions, and signaling a renewed commitment to price stability as a primary goal of the apex bank.
“The NYCN further expresses the optimism that the NNPC’s transitioning into a limited liability entity in line with the provisions of the Petroleum Industry Act (PIA), and its regulation now in line with the provisions of the Companies and Allied Matters Act (CAMA) would help resolve cash call payments delays as the company is now exempted from TSA, among others.
“We also hope that the NNPC Ltd would compete favourably with its peers globally and this in turn would translate to more foreign exchange for the country as well as improved national energy security
society
Liberian Leaders, Citizens Bear Witness as Apostle Suleman Hosts Two-Day Power-Packed Crusade
Liberian Leaders, Citizens Bear Witness as Apostle Suleman Hosts Two-Day Power-Packed Crusade
It was testimonies galore on Tuesday, March 31, the first day of the famous servant of God and founder of the Omega Fire Ministries (OFM) worldwide, Apostle Johnson Suleman’s power-packed two-day crusade. The event documented impactful moments with the Gospel and miracles, emphasizing the power of faith and the tangible confirmation of God’s Word through signs and wonders. It was equally an atmosphere of miraculous healing, restoration of lives, and the strengthening of faith.
At the crusade, which was held at the SKD Sports Stadium in Paynesville City, and themed, “Liberia Outpouring Crusade” witnessed testimonies of impact and miracles with participants experiencing instant healing of various kinds of challenges.
Apostle Suleman’s first port of call was Paynesville, the office of Liberian government’s president, Mr. Joseph Nyuma Boakai, who received him in an audience with his junior ministers. Apostle Suleman, who also met with the vice-president, Mr. Jeremiah Kpan Koung, was welcomed by the Liberian leader’s office as part of the president’s ongoing engagements with religious leaders aimed at fostering spiritual support for national development.
The president expressed profound appreciation to Apostle Suleman for the visit and continued prayers and intercessions by men and women of God on behalf of Liberia, emphasizing his firm belief that sustained spiritual guidance and prayer remain vital to the transformation and progress of the nation.
During the visit, Apostle Suleman offered prayers for President Boakai, his cabinet and the Liberian nation, invoking divine alignment, wisdom, and insight in Liberia’s path toward growth and stability. He prayed that the Almighty God would position Liberia for relevance and fulfillment of its national destiny.
Apostle Johnson Suleman, an evangelist who knows no bounds of where preaching the gospel comes to a stop, visited Liberia prepared with the message, compelling power of the Gospel and the work of the Holy Spirit, and bringing people to a point of decision where they surrendered their lives to Christ.
Aside from being prophetic and timely, OFM sources disclosed that the servant of God’s visit underscores the importance of faith-based partnerships in supporting governance and national renewal efforts.
society
Middle Belt Forum Hails Tinubu’s Jos Visit, Calls for United Civil-Military Effort to Restore Lasting Peace
*Middle Belt Forum Hails Tinubu’s Jos Visit, Calls for United Civil-Military Effort to Restore Lasting Peace
The Middle Belt Peace Forum (MBPF) has commended President Bola Ahmed Tinubu for his profound demonstration of empathy and responsive leadership following his decision to postpone an official engagement in Iperu in order to visit victims of the recent attacks in Jos.
In a statement signed by its National Coordinator, Pastor Bulus Garba, in Jos on Friday, the Forum said the President’s decision to personally identify with grieving communities sends a powerful message of solidarity and reinforces public confidence in the commitment of the Federal Government to the protection of lives and property.
“The Middle Belt Peace Forum warmly commends President Bola Ahmed Tinubu for prioritising compassion over ceremony. At a time of deep sorrow for the people of Plateau State, his decision to visit Jos stands as a mark of true leadership—one that listens, responds, and stands with the people in their moment of pain,” the statement read.
The Forum described the perpetrators of the recent attacks as “cowards who prey on innocent and defenceless citizens,” stressing that such acts of violence are not only inhumane but also a direct assault on the unity and peace of the nation.
“We condemn in the strongest terms the actions of these cowardly attackers whose only aim is to instil fear and destabilise peaceful communities. Their actions must be met with firm and decisive resistance from all arms of the state,” Pastor Garba said.
The MBPF further used the opportunity to salute the courage, gallantry, and sacrifices of the Armed Forces of Nigeria under the leadership of the Chief of Defence Staff, General Olufemi Oluyede, noting that their continued efforts remain central to restoring stability across troubled parts of the country.
According to the Forum, the Armed Forces have demonstrated resilience and professionalism in the face of complex security challenges, often operating under difficult conditions to safeguard communities and defend Nigeria’s territorial integrity.
“We salute the Armed Forces of Nigeria for their unwavering commitment and sacrifices. Their gallantry in confronting criminal elements and reclaiming territories is a testament to their dedication to national service. We recognise that the path to peace is demanding, and we honour those who stand daily in defence of our nation,” the statement added.
The Forum pledged its full support to ongoing military operations and called for strengthened collaboration between security agencies and local communities as a critical factor in achieving lasting peace.
It also urged citizens across the Middle Belt to cooperate with security forces by providing timely information and fostering unity within their communities.
The MBPF, however, expressed concern over the need for greater synergy among security agencies, particularly the role of the Nigeria Police in consolidating gains made by the military.
“We call on the Nigeria Police Force to rise fully to its constitutional responsibility by effectively supporting the Armed Forces in stabilising and securing areas that have been cleared of criminal elements. Holding and policing such territories is essential to preventing a resurgence of violence,” Pastor Garba stated.
The Forum emphasised that sustainable peace requires a coordinated approach in which the military clears and secures areas, while the police maintain law and order to enable displaced communities to return and rebuild their lives.
The MBPF concluded by reiterating its commitment to peacebuilding efforts across the Middle Belt and expressed optimism that with sustained leadership, coordinated security efforts, and active citizen participation, lasting peace can be achieved.
“Together, through unity, vigilance, and collective resolve, we can overcome these challenges and build a safer and more peaceful Middle Belt,” the statement added.
Governor Dauda Lawal Wins Face of Africa Governor of the Year Award in London
Governor Dauda Lawal has been honored with the Outstanding Governor of the Year award by Triangle Media International Magazine.
The award was presented during the magazine’s 10th annual lecture and award ceremony, held on Thursday at the Grand Hall of King’s College, London, United Kingdom.
According to a statement by the governor’s spokesperson, Sulaiman Bala Idris, the awards recognize public and private sector leaders whose leadership positively impacts governance and service delivery.
He added that the lecture, themed “Harnessing the Roles of Nigerians in Diaspora for National Development,” brought together stakeholders from both the public and private sectors.
The statement read in part: “Yesterday, in London, Governor Dauda Lawal received the 2026 Face of Africa Leadership Award for Outstanding Governor of the Year.
“The 2026 edition coincides with the 10th anniversary of Triangle International Magazine, which has over the years celebrated notable Africans across diverse fields.
“The award recognizes the Zamfara State Government under Governor Lawal’s leadership for achieving remarkable milestones in service delivery since his inauguration on 29 May 2023.
“The board of Triangle International noted that, despite inheriting an empty treasury, Governor Dauda Lawal has remained true to the Rescue Agenda’s campaign promise: to rescue and rebuild Zamfara.
“The award also reflects the state government’s innovative approach to indirectly curbing insecurity through educational advancement, demonstrated by the declaration of a state of emergency in the education sector.
“This includes the state government’s swift payment of the outstanding N3.4 billion for WAEC and NECO examinations, as well as the reconstruction and rehabilitation of schools across all 14 Local Government Areas of Zamfara State.
“The international magazine finds these initiatives to be strategic interventions toward long-term efforts to make Zamfara State better.”
The colourful event was attended by the Minister of Interior, Olubunmi Tunji-Ojo, and Sahara Group’s Group Managing Director, Kola Adesina, among others.
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