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Ilaje people ask court to stop Buhari from inaugurating NDDC board



Stakeholders in the Ilaje Local Government Area of Ondo State have asked the Federal High Court (FHC) to stop President Muhammadu Buhari from inaugurating the Niger Delta Development Commission (NDDC) Board.

The plaintiffs want the inauguration put on hold pending the hearing and determination of the suit.

They are led by ex-Clerk of the National Assembly and Chairman, Board of Trustees of Ugboland Development Congress, Asiwaju Oluyemi Ogunyomi.

Others are Mr. Adebowale Karaki, Dr. Mann Ali, a Trustee and Secretary of Ugboland Development Congress, respectively.

The rest include the Incorporated Trustees of Ilaje Advancement Forum, Messrs Idowu Mafimisebi, Olaniran Obele and Ige Asemudara, all lawyers representing Ilaje Lawyers Forum.

In the suit filed on January 3 at the FHC Abuja by Ebun-Olu Adegboruwa (SAN), the litigants are seeking an order restraining the President from swearing in Charles Ogunmola as Executive Director of Projects.

They insist Ogunmola is from Owo in the Northern axis of Ondo and not an indigene of the oil-producing area.

Other defendants in the suit are the National Assembly, the Senate, the Attorney-General of the Federation and Ogunmola.

No date has been fixed for the hearing of the suit served upon the President and the Attorney-General, Abubakar Malami (SAN).

Last month, the Niger Delta Development Front (NDDF) condemned the opposition to buhari’s nomination of Ogunmola.

The Senate confirmed Ogunmola, presidential aide Lauetta Onochie and other NDDC board nominees on December 20.


Tinubu approves take-off of N100bn consumer credit for Nigerians



President Bola Tinubu has approved the commencement of the N100 billion Consumer Credit Scheme for Nigerians amid escalating economic hardship in the country.

Ajuri Ngelale, the President’s spokesperson, disclosed this in a statement on Wednesday.

He stated that interested Nigerians are expected to visit the portal of Nigerian Consumer Credit Corporation before May 15, 2024.

“Consumer credit serves as the lifeblood of modern economies, enabling citizens to enhance their quality of life by accessing goods and services upfront, paying responsibly over time. It facilitates crucial purchases, such as homes, vehicles, education, and healthcare, which are essential for ongoing stability and the pursuit of their aspirations.

“Individuals build credit histories through responsible repayment, unlocking more opportunities for a better life. The increased demand for goods and services also stimulates local industry and job creation.

“The President believes every hardworking Nigerian should have access to social mobility, with consumer credit playing a pivotal role in achieving this vision.

“The Nigerian Consumer Credit Corporation (CREDICORP) achieves its mandate through the following: Strengthening Nigeria’s credit reporting systems and ensuring every economically active citizen has a dependable credit score. This score becomes personal equity they build, facilitating access to consumer credit, Offering credit guarantees and wholesale lending to financial institutions dedicated to broadening consumer credit access today and Promoting responsible consumer credit as a pathway to an improved quality of life, fostering a cultural shift towards growth and financial responsibility.

“In line with the President’s directive to expand consumer credit access to Nigerians, the Nigerian Consumer Credit Corporation (CREDICORP) has launched a portal for Nigerians to express interest in receiving consumer credit.

“This initiative, in collaboration with financial institutions and cooperatives nationwide, aims to broaden consumer credit availability.

“Working Nigerians interested in receiving consumer credit can visit to express interest. The deadline is May 15, 2024.

“The scheme will be rolled out in phases, starting with members of the civil service and cascading to members of the public,” the statement said.

Recall that two months ago, a presidential spokesman, Bayo Onanuga, announced that the Federal Executive Council had given the nod for the establishment of the Consumer Credit Scheme.

He said the President’s Chief of Staff, Femi Gbajabiamila, will lead a committee that includes the Budget Minister, Attorney-General, and Coordinating Minister of the Economy and Finance to make the scheme a reality.

In March, the Chairman of the Federal Inland Revenue Service Chairman, Zacch Adedeji, said the Nigerian government would unveil its proposed N100 billion consumer credit loan in a few days.

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Nigerian Govt grounds Dana Air operations



The Nigerian Government has suspended the operations of Dana Air.

The order followed an incident involving a Dana Air plane at Lagos airport on April 23, which forced aviation authorities to divert flights from local to international airport.

The decision was announced by Minister of Aviation, Festus Keyamo.

Details shortly…

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CBN disowns notice on cryptocurrency transactions



The Central Bank of Nigeria says a notice circulating on social media about the risk of cryptocurrency is fake news.

The Apex disclosed this via its official X account, urging the public to disregard the purported notice for all Deposits Money Bank, Non-Bank Financial Institutions, and other Financial Institutions.

The notice reminded “Institutions that dealing in cryptocurrencies and facilitating payments for cryptocurrency exchanges is prohibited”.

However, CBN said the content doesn’t originate from it.

“This information does not originate from the Central Bank of Nigeria.

“For authentic updates, please visit the official website,” CBN wrote.

Recall that the CBN governor, during the Bank’s 293rd Monetary Policy Committee meeting, said over $26 billion funnelled through Binance.

On Tuesday, the Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, said the anti-graft agency froze about 300 accounts to ensure the safety of the foreign exchange market.

The Nigerian government had continued clamping down on Binance and other cryptocurrency platforms amid efforts to defend the Naira in the foreign exchange market.

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