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Emefiele-Led CBN policies killing Nigeria’s Economy, Sack Him Now – Youth Council Tells Buhari

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CBN Governor, Emefiele Swims In Fresh Crisis

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.

 

 

Emefiele-Led CBN policies killing Nigeria’s Economy, Sack Him Now - Youth Council Tells Buhari

 

 

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

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SERVICE TO HUMANITY : SAVE OMOLOLA OGUNLAJA A 32 YEAR OLD TAYLOR NEEDS 15 MILLION NAIRA TO WALK AGAIN

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OMOLOLA OGUNLAJA

SERVICE TO HUMANITY : SAVE OMOLOLA OGUNLAJA A 32 YEAR OLD TAYLOR NEEDS 15 MILLION NAIRA TO WALK AGAIN

OMOLOLA OGUNLAJA

Service to humanity, they say it’s the best work of life, what else could we have live for in life, if not seeing our fellow human living well. Pains isn’t something we all clamor for, but in the case of a 32 years old Tailor, OMOLOLA OGUNLAJA she has been in pains since February, 2019.

 

Omolola Ogunlaja is a well known fashion designer who encounter the pains she has been in for over 3 years in the course of delivering her Job, as she had an accident on her way back from her esteemed customer. However, Omolola made it known to 1steleven9jatv that she has undergone varieties of surgery both in Lagos State and Abeokuta, but both surgery in both states were not successful as the injury has been infected.

 

 

 

 

 

 

She was however advised to undergo a surgery on non union of the femoral fracture and knee replacement surgery in India, which is why she called upon 1steleven9jatv for broadcasting help to the fellow Nigerians.

 

It’s of our utmost priority at the moment to seek for the help of Nigerians both Home and Abroad for the surgery of our Dear friend, Omolola Ogunlaja who’s currently down in sick bed and couldn’t continue again with her chosen field sequel to the accident she had. We all can make her walk again and live beautifully well if we all support her with our little peanut which will go a long way.

 

 

 

 

 

Omolola is in need of 15 million naira to undergo the surgery, below are the account details for payment;

Account Name : OGUNLAJA OMOLOLA
Account Number : 2406501671
Bank : Zenith Bank.
Phone No : 07035491920.

 

 

 

 

May God bless us all with good health. See Graphics for more details. #Saveomololaogunlaja

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Why You Should Patronize Winney’s Secret

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Winney's Secret

Why You Should Patronize Winney’s Secret

Winney's Secret

 

Get your fashionable needs covered with winney secrets!

Make yourself, and your outfits noticeable with the best of Perfumes, Body spray, Oil perfume, and roll-ons from winney secrets, passing on a good impression to others.

 

 

Winney secrets also have got you covered on Unisex wears that are intriguing and eye-grabbing.

You can also get your wigs of various types, and various shades of beauty.

 

 

 

Also, you can shop for elegant shoes to make your feet look beautiful

To place an order;
Call: 07050708609
WhatsApp: 08083885106

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Lady Born Without Legs Shares Emotional Story

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Lady Born Without Legs

Lady Born Without Legs Shares Emotional Story

Lady Born Without Legs

 

Lady born without Legs shared her experiences with his boyfriend. Eunice narrates how she was betrayed by people she loved and trusted so much with her life. Eunice, who was born with a disability, shared her story. Her parents died when she was 3 years old, and she was left in the care of her grandparents. She was humiliated, insulted, and demeaned in school because of her disability. She felt sad that she couldn’t run with her peers because of her disability. She was “very upset” when a classmate asked her why she didn’t have legs. She cried and asked her grandparents to send her to a disability school.

 

After graduation, she searched and searched for a job but was unable to find a job because of her disability. She later moved in with her brother. One of her family members volunteered to assist her and take care of her because of her disability. It wasn’t long until she met someone she liked and they started dating; he came to see her often until the unexpected happened.

 

 

 

 

 

When she got home one day, after a long day of searching for a job, she found him and her caregiver on the couch embracing each other. When they saw her, they pretended to not be doing anything since they were in a state of awe.

 

 

 

 

 

 

The most terrible event of my life, because I loved him so much,” says Eunice. When she tried to get in touch with her ex-boyfriend, he told her to never call his phone again and to delete all of his memories. According to her, the caregiver tendered an apology. In the end, though, she was able to move on and forgive her. She cry every day since she couldn’t find a man to love her and marry her. Having a disability has made it difficult for her to get a job, she said.

As her brother prepares to get married, she is begging friends and family to please help her start a cosmetics business and rent an apartment for her so she won’t be a financial burden to him. She always cry knowing she will may not find a man to marry her and might never find a job because of her disability now her career snatched the only man that loved her from her.

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