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Sack CBN Governor, Declare State of Emergency On Forex, 100 CSOs Tell Tinubu

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Sack CBN Governor, Declare State of Emergency On Forex, 100 CSOs Tell Tinubu

Sack CBN Governor, Declare State of Emergency On Forex, 100 CSOs Tell Tinubu

…threatens mass action if Cardoso fails to vacate office within 72hrs

 

 

 

As many as 100 non-governmental organizations, under the aegis of Economic Freedom Fighters, Nigeria (EFFN), have demanded that President Bola Ahmed Tinubu immediately sack the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso for his ineptitude and lack of direction and to also declare a state of emergency on the economy.

 

Sack CBN Governor, Declare State of Emergency On Forex, 100 CSOs Tell Tinubu

 

 

 

At a press conference held in Lagos at the weekend, the CSOs cited the current economic crisis in the country, which they claim has proven that the CBN under Cardoso’s leadership has no answers to the crushing economic crisis that has brought the naira to a lifetime low with resulting hardship on citizens.

They said President Tinubu no longer has the luxury of assuming or pretending that Cardoso is doing a sterling job at the CBN when the Governor himself is aware that he is a failure when it comes to the management of the naira.

The naira lost value to N1,360.00 to the dollar on Friday, and the falling value of the naira has had a significant impact on the quality of life of Nigerians. The rise in the cost of living, the decrease in purchasing power, and the decrease in foreign investment have all contributed to the economic crisis in the country, which has also resulted in existential upsurge in crimes especially kidnap for ransom.

“The Nigerian economy is in a dire state, and the CBN has failed to take the necessary steps to address the situation, instead the apex banker is mired in internal politics that do nothing to halt the suffering of Nigerians. Cardoso ought not to have accepted the appointment as the Governor of CBN when he knew he was clueless about what has to be done to save the naira,” said Dr Amodu Ben, Convener of EFFA.

“We call on President Tinubu to take immediate action and remove Mr Cardoso from his position as Governor of the CBN. We also urge the president to declare a state of emergency on the economy and take bold steps to address the root causes of the crisis now that it is apparent that Cardoso has no answers to this problem.

“It will be injustice for Nigerians to endure more days of Cardoso in office knowing full well that things have only gotten worse since he assumed office with no end in sight. Instead of the firm directions that Nigerians expected the CBN to come on board with, currency racketeering has taken over the operations of the CBN, including the foreign exchange market. The stories filtering out of the regulator is that friends, family, and associates of the Governor are getting forex allocations that are making them nouveau rich while the rest of Nigerians are sinking into poverty,” Dr Ben stated.

EFFN has threatened mass action if President Tinubu fails to remove Cardoso or if the CBN Governor fails to remove himself from office, saying that such mass action will take place within 72 hours from when it held its briefing.

The CSOs also criticized the CBN’s recent decision to relocate some of its departments to Lagos State, which they claim will further exacerbate the economic crisis in the country because the apex bank is focusing on petty internal politics to the detriment of the national economy. They called on the CBN to reverse its decision and focus on implementing policies that will help to stabilize the economy.

The Governor of the CBN has not yet responded to the CSOs’ demands, and it remains to be seen what action President Tinubu will take in response to the call for the removal of Mr Cardoso and the declaration of a state of emergency on the economy.

With the Nigerian economy being in a state of decline for the past few years and with the naira’s value plummeting and inflation rates skyrocketing, Cardoso’s arrival at the CBN was anticipated to at the least halt the economic slide.

Cardoso was appointed as CBN Governor when the naira was hovering below N1000 in September 2023 to the dollar threshold and the currency has since lost more than N400 since he resumed, prompting widespread anger and criticism about his ability to correctly diagnose what ails the Nigerian economy and proffer solutions.

Nigeria’s GDP growth rate fell to 1.9% in 2023, down from 2.2% in 2022 while the inflation rate, which has also been on the rise, hit 18.3% in December 2023, up from 16.5% in November 2023.

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Jamsalod Nigeria Limited Director, Engr. Jamiu Ogundele Honoured With Exemplary Leadership Awards

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Jamsalod Nigeria Limited Director, Engr. Jamiu Ogundele Honoured With Exemplary Leadership Awards 

Jamsalod Nigeria Limited Director, Engr. Jamiu Ogundele Honoured With Exemplary Leadership Awards

 

 

 

 

 

 

Sahara Weekly Reports That The Managing Director of Jamsalod Nigeria Limited, Engineer Jamiu Ogundele has been awarded with exemplary leadership awards by Federal University of Agriculture Abeokuta today 26th of July 2024.

 

 

 

 

Jamsalod Nigeria Limited Director, Engr. Jamiu Ogundele Honoured With Exemplary Leadership Awards 

 

 

 

 

According to Distinguish Senator Oluwashina Aramide Bello, he said Engineer Ongundele Jamiu was awarded based on his exemplary leadership acumen and philanthropy to the people at large.

 

 

 

 

 

 

 

 

The awards were presented on the 26th of July, 2024.

 

 

 

 

 

 

 

 

In his acceptance speech, Engr. Jamiu Ogundele appreciated the Students of Federal University of Agriculture Abeokuta FUNAAB for deeming it necessary to bestow him with a leadership awards. He promise to continue rendering assistance to the less privileged and sponsorship of education for children and youths whose parents are not financially buoyant to send them to school.

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Lion Oshiyemi Pledges redefinition, reposition as he emerges 20th President of OGUNCCIMA

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Lion Oshiyemi Pledges redefinition, reposition as he emerges 20th President of OGUNCCIMA

Lion Niyi Oshiyemi has been invested as the 20th President of the Ogun State Chambers of Commerce, Industry, Mines and Agriculture (OGUNCCIMA) at the Chamber’s 40th Annual General Meeting.

The investiture ceremony of the new OGUNCCIMA leadership was held on Thursday at Tunwase Hall in Ijebu Ode, Ogun State with top Chamber movement members in attendance.

The President In his acceptance speech, expressed gratitude to the immediate past President, Engr. Mike Akingbade, and the Chamber for entrusting him with the esteemed position.

He pledged to leverage available opportunities to redefine and reposition the Chamber, creating platforms to influence legislation and improve the business environment.

“I am honored to lead this prestigious organization and I promise to harness all available opportunities to redefine and reposition the chamber of commerce movement in the state”.

“I will continue to create platforms to influence legislation and other measures affecting trade, improve the business environment, and build a Nigerian economy of thriving business opportunities through networking”.

“I wish to enjoin you all who represent businesses, if you have not joined the OGUNCCIMA, please come and lend your voice to others. The bigger the network, the louder the voice and the stronger the influence”.

“Our advocacy seeks to ensure that the business community can have its voice heard on issues that are important to it”.

“I’d like to introduce to you my Presidency’s flagship project “OGUNCCIMA Secretariat”: The project is massive and requires a lot, I therefore seek your support and look forward to partnering with all stakeholders – the state government and it’s agencies (Federal and State Ministries, Departments and Agencies), development partners, the diplomatic communities, the media, and other stakeholders”, he said.

Oshiyemi also praised the founding fathers of the Chamber, saying, “I laud the vision of our founding fathers, who have laid a solid foundation for us to build upon. I am committed to taking OGUNCCIMA to greater heights and making it a beacon of hope for businesses in Ogun State.”

The Ogun State Hon. Commissioner for Industry, Trade and Investment, Hon. Adebola Sofela Emmanuel, in his keynote address said by the Permanent Secretary, Ministry of Trade and Investment, Dr. Olu Ola Aikulola, said over the years that the Ogun State Chambers of Commerce, Industry, Mines and Agriculture (OGUNCCIMA), has not only remained a beacon of entrepreneurial excellence, but also partners in driving economic growth, fostering trade, and promoting investment opportunities in the state.

He said: “I would like to extend my heartfelt congratulations to OGUNCCIMA on this historical movement. Forty years of dedicated service to the industrial, trade, and agricultural sectors of Ogun State is no small feat”.

“Over the years, the Ogun State Chambers of Commerce, Industry, Mines and Agriculture (OGUNCCIMA) has not only been a beacon of entrepreneurial excellence but also a pivotal partner in driving industrial growth, fostering trade, and promoting investment opportunities”.

“Today, as we elect new officers to continue this legacy of excellence, I urge all members to approach this process with a spirit of unity, fairness, and foresight. The future of our chambers and the economic well-being of our state depend on the collective wisdom and strategic vision of our leaders”.

“For us, as a government, we will continue to put in place Institutional mechanisms that will guide our various developmental programmes in all sector of the economy”, he added.

In his remarks, NACCIMA President, Dele Kelvin Oye, represented by the Director – General, Olusola Obadimu, urged the new leadership of OGUNCCIMA to reflect on the the Chambers achievements and chart the course for the future.

“Today, as we gather for the 40th Annual General Meeting and Investiture of New Executives, I want to charge the new leadership to be dedicated and build on the achievements of the past administrations”.

“On behalf of NACCIMA, I congratulate the new officers and may our shared efforts continue to bear fruit, and may new officers lead us for greater heights of success and prosperity”, he concluded.

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ASR AFRICA FLAGS OFF CONSTRUCTION OF A N280 MILLION INTEGRATED PUBLISHING HOUSE FOR BABCOCK UNIVERSITY, ILISHAN-REMO, OGUN STATE, NIGERIA

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ASR AFRICA FLAGS OFF CONSTRUCTION OF A N280 MILLION INTEGRATED PUBLISHING HOUSE FOR BABCOCK UNIVERSITY, ILISHAN-REMO, OGUN STATE, NIGERIA

ASR AFRICA FLAGS OFF CONSTRUCTION OF A N280 MILLION INTEGRATED PUBLISHING HOUSE FOR BABCOCK UNIVERSITY, ILISHAN-REMO, OGUN STATE, NIGERIA

 

 

 

 

Sahara Weekly Reports That The Abdul Samad Rabiu Africa Initiative (ASR Africa), the philanthropic initiative of the Chairman of BUA Group, Abdul Samad Rabiu (CFR, CON), has flagged off the construction of a N280 million Abdul Samad Rabiu Integrated Publishing House for Babcock University, Ilishan-Remo, Ogun State. This project will enhance the capacity of the University from basic press status to a modern, integrated publishing house to encompass publishing, print production, and other related diversified services. The one-storey building facility will serve as a laboratory and studio for training students of communications, media studies, and allied disciplines as well as other disciplines.

 

 

 

ASR AFRICA FLAGS OFF CONSTRUCTION OF A N280 MILLION INTEGRATED PUBLISHING HOUSE FOR BABCOCK UNIVERSITY, ILISHAN-REMO, OGUN STATE, NIGERIA

 

 

 

 

At the groundbreaking event, the Vice Chancellor of the University, Prof. Ademola S. Tayo, expressed satisfaction at the nomination by ASR Africa, under its Tertiary Education Grant Scheme. He added that the choice of the project was a response to the vision to take the Mass Communications Department of the University to a whole new level. According to him, the university’s vision is to produce young men and women capable of critical thinking, and problem-solvers capable of proffering innovative solutions to problems of everyday life, be it social, political, and cultural.

 

 

 

 

 

 

 

 

 

 

 

 

In his response, Dr. Ubon Udoh, the Managing Director of ASR Africa, expressed his delight at the University’s choice of establishing an Integrated Publishing House. He added that when information is appropriately applied, human society is empowered to liberate itself from limitations and attain its full potential. Dr Udoh reiterated the commitment of the Chairman of ASR Africa, Abdul Samad Rabiu to supporting quality education within the tertiary education system in Nigeria and urged the institution to focus on the sustainability of this noble project. He also reiterated the importance of cooperation and collaboration between the university and the contractor for the timely delivery of the publishing house.

 

 

 

 

 

 

 

 

 

About ASR Africa

ASR Africa is the brainchild of African Industrialist, Philanthropist, and Chairman of BUA Group, Abdul Samad Rabiu, the Abdul Samad Rabiu Africa Initiative (ASR Africa) was established in 2021 to provide sustainable, impact-based, homegrown solutions to developmental issues affecting Health, Education and Social Development within Africa.

 

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