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WHO IS AFRAID OF GODWIN EMEFIELE?

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THEY DIDN'T SWAP YOUR CURRENCY, THEY GRABBED IT! 

 

WHO IS AFRAID OF GODWIN EMEFIELE?

HE’S NOT EVEN SNEEZING AND J

kTHEY ARE CATCHING THE COLD! J

 

STATEMENT BY FRIENDS
OF GOVERNOR EMEFIELE

 

 

 

 

 

 

In the past few weeks, there have been media reports on the purported interest of the Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, in the 2023 presidential race, leading to stampede by interested parties and vested interests who are resorting to all sorts of blackmail, sponsored articles and choreographed comments on socialmedia targeted at tainting Godwin Emefiele’s image, impugning his character and legacy.

 

 

 

 

WHO IS AFRAID OF GODWIN EMEFIELE?

 

 

 

 

 

 

Clearly, the negative attacks are being sponsored by those who see Emefiele as a major threat to their political ambition. Truth is Godwin Emefiele has not confirmed to anyone he is running for President even as he is constitutionally qualified to do so; he has been under pressure in the past few weeks as different groups have been putting up unsolicited campaign for his candidacy. Only yesterday, as the speculation became widespread, a group of his friends under the aegis of FRIENDS OF GODWIN EMEFIELE met with him to clarify his position.

 

 

 

 

 

 

 

 

 

Here is what he told us –

  1. That he remains focused on his job and will continue supporting the Muhammadu Buhari-led federal government’s economic recovery drive;
  2. That in his career trajectory, right from his days as a young banker, he never asked, nor lobbied for a job- he was invited by the Board of Directors to be the Chief Executive Officer/Group Managing Director of ZenithBank as he was an integral part of the team, Led by founder Jim Ovia, that transformed Zenith Bank from a start-up to one of Africa’s largest banks with subsidiaries in Ghana, Sierra Leone, Gambia, South Africa, Dubai, China and the United Kingdom;
  3. In 2014, President Goodluck Jonathan tapped him to be the CBN Governor, a job he didn’t lobby for and in which his name was not among those being considered at that time. He was not even from the geo-political zone that most people thought the job would go to as the president then was from same geopolitical zone with him;
  4. Today he remains humbled by President Muhammadu Buhari’s decision to grant him an unprecedented second term as CBN Governor- again without lobbying. Thus he will continue to remain loyal to him and the Federal Republic of Nigeria.
  5. Emefiele told us that he believes it’s the prerogative of President Muhammadu Buhari to plan his succession in line with global best practices for good governance for the continuing peace and progress of the federal republic of Nigeria, as such he will play his part to stabilise the economy for an orderly transition.
  6. And given that it’s God that anoints leaders, he will leave his faith firmly in the hands of God.
  7. With these fundamental questions settled, it is imperative to address some of the lies and utter falsehood being pedaled by blackmailers and political jobbers. Who Godwin Emefiele as a threat to their ambition.

 

 

 

FROM BEGINNING AS CBN GOVERNOR

Indeed, when Emefiele assumed the position of the CBN Governor in June 2014, his task was huge, the challenges seemingly insurmountable. Today despite huge headwinds he has calmed the waters and put Nigeria back on the path of growth.

SHARP FALL IN CRUDE OIL PRICE

As you will recall there was a sharp fall in crude oil prices from 2015, which led to significant revenue shortfalls in Nigeria where crude oil represents about 95 per cent of Nigeria’s export revenue. This created major shock for the Nigerian economy, leading to a 13-month recession in 2016. In comparison to the previous years before Emefiele became the CBN governor, the average price of crude oil from 2010 to 2014 was over $100/barrel and this fell to some $30 / barrel with high production costs of some $25/barrel. Despite these challenges Emefiele’s monetary policies supported the Buhari administration and all 36 State governments, ensuring salaries were paid and much more was done, with much less, in infrastructure, steering Nigeria away from much worse outcomes while many oil producers like Kuwait, Russia, Angola and Brunei had longer lasting recessions between of 20 – 60 months.

COVID-19 INDUCED GLOBAL RECESSION

Critics must also understand that the second recession the country entered into in 2020 was as a result of the COVID-19 pandemic. Then, the global economy (Nigeria inclusive) was plunged into recession because of the pandemic which was unprecedented. It led to declines in economic activities and lockdown across the world Countries like the USA had GBP falling in 2020 by MINUS 31% in Q2, UK by MINUS 19.4% in Q2, EU by MINUS 14.1% in Q2 and Nigeria , with deft response of the CBN had MINUS 6.1% in Q2. As we all know the CBN supported fiscal authorities in the following areas.

N100 billion health sector credit facility for operators in the sector. Today, Nigeria boasts of two world-class cancer centres in Lagos and medical tourism has reduced.

  • A one-year extension of a moratorium on principal repayments for CBN intervention facilities;
  • The reduction of the interest rate on intervention loans from 9 percent to 5 percent;
  • Strengthening of the Loan to Deposit ratio policy (i.e. stepped up enforcement of directive to extend more credit to the private sector);
  • Creation of N400 billion target credit facility for affected households and small and medium enterprises; •Granting regulatory forbearance to banks to restructure terms of facilities in affected sectors;
  • Improving FX supply to the CBN by directing oil companies and oil servicing companies to sell FX to the CBN rather than the Nigerian National Petroleum Corporation;
  • Additional NGN100 billion intervention fund in healthcare loans to pharmaceutical companies and healthcare practitioners intending to expand/build capacity;
  • Identification of few key local pharmaceutical companies that will be granted funding facilities to support the procurement of raw materials and equipment required to boost local drug production.
  • N1 trillion in loans to boost local manufacturing and production across critical sectors;

DEVELOPMENTAL-ORIENTEDCENTRAL BANKER

But despite the challenges, the CBN under Emefiele has in the last seven years maintained a developmental- oriented approach in supporting the federal government to address challenges across various sectors of the economy and has initiated far-reaching reforms.

RICE PYRAMID

One issue the critics have continued to raise is the issue of the rice pyramid which was recently unveiled in Abuja. But these arm chair critics have failed to understand that through the Anchor Borrowers7 Programme (ABP), an initiative that was introduced by the Emefiele-led CBN, the lives of a lot of rural farmers have been transformed. The rice pyramid which had taken place previously in Minna, Kebbi, Gombe, Ekiti and Abuja, showed how Emefiele has used agriculture to support the federal governments wars on insecurity. The rice pyramids were build bag by bag in all the states the programme had been launched since December 2020, when it was first launched in Minna, Niger State. The programme held last month to unveil the world’s largest rice pyramid in Abuja was also an initiative of the Rice Farmers Association of Nigeria (RIFAN).

ANCHOR BORROWERS7 PROGRAMME

The ABP has been described as a major agricultural breakthrough and a source of pride to the country, as farmers, especially rice farmers, have continued to count gains under the scheme. The programme has increased banks7 finance to the agricultural sector and enhanced capacity utilisation of agricultural firms. From an average yield of 1.8 metric tonnes per hectare in the pre-ABP era, the initiative has increased the country’s average yield per hectare for rice paddy and maize to about five metric tonnes per hectare.

REDUCTION IN IMPORT BILL

Additionally, there has been a significant reduction in the country’s rice import bill, from a monstrous $1.05 billion prior to November 2015, to the current figure of $18.50 million, annually.

TAMING COVID-19

The disruption caused by the COVID-19, which also contributed to the significant drop in the price of crude oil exposed the economy’s weak underbelly. In Nigeria, the Emefiele-led CBN acted swiftly, almost when the first case broke out in the country, by unveiling a raft of policy initiatives aimed at reducing the adverse impacts of the COVID-19 pandemic on the economy.

CACOVID

Emefiele also spearheaded the creation of the Coalition Against COVID-19 (CACOVID), an initiative that brought all the private sector business leaders under an umbrella in the fight against the spread of the pandemic. This was why in its latest Article IV Consultation released in February 2022, the International Monetary Fund praised Nigeria’s effort in fighting the spread of the virus.

OTHERS

There are many other measures announced by the CBN Governor which will be detailed in due course like the support to Technology, Digital innovation, the Creative Industries and the 15 Trillion Infrastructure corporation recently launched.

  • CONCLUSION

Apparently, those behind the sponsored negative reports are afraid of Emefiele’s towering personality and service to Nigeria. But they must understand that he cannot be stampeded any way. He is focused on delivering the mandate of the Central Bank; he is rebuilding The economy of the country through import substitution policies and using agriculture to create a new rural middle class from ground up. . Those who continue to criticise the rice pyramid are too ashamed of giving glory to whom it is due. Emefiele is focused on his unfinished job and should not be distracted.

Signed

Friends of Godwin Emefiele

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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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CBOs Laud Minister of Agric Kyari Over Transparent Distribution Of Fertilisers, Foodstuff Across Nigeria

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CBOs Laud Minister of Agric Kyari Over Transparent Distribution Of Fertilisers, Foodstuff Across Nigeria

CBOs Laud Minister of Agric Kyari Over Transparent Distribution Of Fertilisers, Foodstuff Across Nigeria

 

 

A network of community-based organizations (CBOs) in Nigeria, the Coalition of Ethnic Nationalities’ Rights Agenda, the South East Revival Coalition, and Progressive Yoruba Youth for Change have applauded the Minister of Agriculture and Food Security, Sen. Abubakar Kyari, for his efforts and transparency in the distribution of food, fertilisers and other farming inputs across the country.

 

CBOs Laud Minister of Agric Kyari Over Transparent Distribution Of Fertilisers, Foodstuff Across Nigeria

 

The CBOs gave the commendation at a joint press conference held in Abuja on Thursday. The conference was addressed by Mallam Yusuf Khalifa, National Coordinator of the Coalition of Ethnic Nationalities’ Rights Agenda; Dr. Eberechi Okonkwo, Convener of the South East Revival Coalition; and Comrade Olajide Olumide Adeniyi, Executive Secretary of Progressive Yoruba Youth for Change.

 

 

 

“The Minister of Agriculture and Food Security, Senator Abubakar Kyari has established a reputation for integrity and transparency in the ministry. The transparency in the distribution of food, fertilisers and other farming inputs across the country under Kyari’s stewardship is unprecedented,” the CBOs said.

 

 

 

“Senator Kyari has demonstrated a practical commitment to enhancing food security and nutrition in the country by prioritising equity and fairness in the distribution of food, fertilisers and other farming inputs.

“We salute his sense of nationalism. His fair distribution of farming inputs has laid a strong foundation for a prosperous and sustainable agricultural sector. Kyari’s tireless efforts to revolutionise the agricultural sector as well as to ensure that Nigeria becomes self-sufficient in food production is beyond patriotic.

“His exceptional leadership has made the the issue of marginalization in the distribution of food, fertilisers and other farming inputs, a thing of the past in the country. The effective utilization of resources by the Minister has proven not only instrumental to modernising the agricultural space but also to peace and harmony on farms across the nation.

“We applaud Senator Kyari for championing the emancipation of Nigerian farmers, particularly those in rural communities who previously lacked access to government-distributed food, fertilizers, and other farming supplies. Kyari’s unwavering support for women and youth in agriculture has resulted in increased distribution of food, fertilizers, and other farming inputs to more female and young farmers this year than ever before.

“This network of community-based organisations urges the beneficiaries, especially those in the rural communities, to use the supplies judiciously for the purpose they were distributed for. The government has prioritised the agricultural sector as a key driver of Nigeria’s economic growth, hence, its unwavering support of the sector. Farmers must corroborate the government’s efforts by taking advantage of its policies, programmes and interventions.

“We urge the Minister to sustain his visionary leadership, effective resource utilization, and strategic initiatives which have yielded significant progress in the agricultural sector.

“We remain committed to working alongside the Minister to strengthen the agricultural sector and achieve a prosperous, food-secure, and environmentally sustainable Nigeria.”

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