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CBN expresses commitment to harnessing digital technologies

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The Central Bank of Nigeria says it is committed to harnessing the power of digital technologies to enhance financial inclusion.

Mr Yemi Cardoso, CBN Governor, said this on Tuesday in Abuja, during a strategic institutions tour by participants of Senior Executive Course 46 of the National Institute of Policy and Strategic Studies (NIPSS).

Cardoso, who was represented by Dr Bala Bello, Deputy Governor, Corporate Services, said that digital technologies would also boost productivity and create an enabling environment for innovation and entrepreneurship to thrive.

According to him, the apex bank has already deployed robust digital technologies in driving most of its processes towards achieving optimal performance.

He said that NIPSS, as a foremost national policy think-tank, had made invaluable contributions to the socio-political and macroeconomic development of Nigeria.

“We are, therefore, not surprised at the apt and relevant choice of your research theme.

“The CBN and NIPSS have had a long-standing and robust working relationship since the establishment of the institute. This has culminated into positive mutual benefits for the two institutions.

“The CBN, on the one hand, has provided infrastructural support to the institute through construction of an auditorium and a hostel, in addition to the provision of technical support.

“On the other hand, NIPSS has supported the technical capacity of the CBN through the training of some personnel both at senior executive course level and intermediate course cadre,” he said.

The Director-General of NIPSS, Prof. Ayo Omotayo, said that the study visiting would be representing the institute in getting information from operators of the apex bank on the relevance of digital technology to developing jobs for Nigerian youths.

According to Omotayo, a lot of progress has been made globally in using digital systems to run the economy.

“The more of our activities that we can put in digital format, the more we get the opportunity of providing employment access to a whole lot of the 120 million active Nigerians.

“We at NIPSS always knock at the frontiers of knowledge, checking what is going to happen in the immediate future.

“We are working towards a system where we believe that almost every service can be delivered digitally,” he said.

The Acting Director, Monetary Policy Department of the CBN, Dr Lafi Bala Keffi, commended the NIPSS study group for its interest in the apex bank.

She urged the participants to explore the time-tested culture of NIPSS, which is to diagnose national, profer practical solutions and recommend ways of making such solutions realisable.

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Senators jostle over seats in newly renovated chamber

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A rowdy session marred the resumption of the Senate to plenary on Tuesday as senators fought over the seats.

The plenary had started around 11 am and immediately after the procession, the Senate President, GodsWill Akpabio, read out announcements, specifically the names of the lawmakers who had celebrated their birthdays while the Senate was on break.

It was while the announcement was ongoing that Senator Sahabi Yau (APC, Zamfara North) started to raise his voice at the Senate leader, Opeyemi Bamidele (APC, Ekiti Central) while he in return pointed his finger at Yau as if giving him a stern warning.

Immediately, Danjuma Goje (APC, Gombe Central) joined his colleague Yau in shouting at Bamidele and the chairman, of Senate Services, Sunday Karimi (APC, Kogi West) who was in charge of the seating arrangements.

The fight was triggered by the seating arrangement in the newly renovated hallow chamber.

Some ranking Senators were said to have been angry at the seats allocated to them in the front row on the last right side of the aisle.

The Senate President eventually told them to approach the chair one after the other but Yau didn’t oblige him.

The rowdy session lasted for about 20 minutes as senators bickered.

After the Senate President read his welcome-back speech, the Senate leader, moved that the Senate resolved into a closed-door session.

The Senate after that, at about 12: 05 pm resolved into an executive session.

The Senate had on March 20, adjourned plenary till April 16, but postponed resumption twice to allow for the completion of the chamber which had been under renovation since 2022.

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Electricity tariff hike: You failed Nigerians, Falana blasts Power Minister

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Human rights lawyer, Femi Falana, has passed a vote of ‘no confidence’ on the Federal Government, saying that the minister of Power, Adebayo Adelabu, has failed Nigerians.

Falana was reacting to Adelabu’s appearance before the Senate on Monday to defend the increase in the electricity tariff and what Nigerians would pay.

He also stated that the move was a policy imposed on the Nigerian government by the International Monetary Funds and the World Bank.

Speaking on the Channels TV show on Monday night, Falana said, “The Minister of Power, Mr Adebayo Adelabu has failed to address the question of the illegality of the tariffs.

“Section 116 of the Electricity Act 2023 provides that before an increase can be approved and announced, there has to be a public hearing conducted based on the request of the DISCOS to have an increase in the electricity tariffs. That was not done.

“Secondly, neither the minister nor the Nigeria Electricity Regulatory Commission has explained why the impunity that characterized the increase can be allowed.”

Falana also expressed worry over what he described as impunity on the part of the federal government and electricity regulatory commission.

Falana alleged that the Nigerian government is heeding an instruction given to her by the Bretton Wood institutions.

The Senior Advocate of Nigeria accused Western countries led by the United States of America of double standards.

According to him, they subsidize agriculture, energy, and fuel and offer grants and loans to indigent students while they advise the Nigerian government against doing the same for its citizens.

Following the outrage that greeted the announcement of the tariff increase, Adelabu explained that the action would not affect everyone using electricity as only Band A customers who get about 20 hours of electricity are affected by the hike.

Falana, however, insisted that neither the minister nor the National Electricity Regulatory Commission, NERC, had justified the tariff increase.

The senior lawyer said that Nigerian law gives no room for discrimination against customers by grading them in different bands.

He insisted that the government cannot ask Nigerians to pay differently for the same product even when what has been consistently served to them is darkness.

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Israeli PM vows ground attack on Rafah “with or without” deal

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Israeli Prime Minister, Benjamin Netanyahu, on Tuesday pledged to launch a ground attack on Rafah “with or without” a deal with Hamas.

Speaking in a meeting with families of hostages, Netanyahu said that Israel had begun the evacuation of Palestinian civilians from Rafah, according to his office.

“We will enter Rafah and eliminate Hamas battalions there, with or without a deal, to achieve the total victory,” he said.

Israel considers Rafah as Hamas’s last major stronghold in the Palestinian enclave.

Rafah is Gaza’s southernmost city, where about 1.2 million Palestinians have been seeking shelter.

The remarks were made as Israeli and Hamas negotiators were in Egyptian-brokered talks on a deal for a ceasefire for the nearly seven-month-long Gaza conflict that will secure the release of hostages.

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