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NANS advocates for CBN’s enhanced autonomy to tackle Nigeria’s hyperinflation crisis

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By Sodiq Adelakun

The National Association of Nigerian Students (NANS) has called for the Central Bank of Nigeria (CBN) to exercise greater independence in its operations to combat the country’s surging hyperinflation and economic instability.

The call was made in a statement jointly signed by NANS Senate President, Sen. Akinteye Afeez Babatunde, and the Emeritus Coordinator of NANS Southwest, Comrade Adejuwon Olatunji Emmanuel, who also handles media and publicity for the association.

The students’ body highlighted the critical need for the CBN to operate without government interference, stating that the bank’s reliance on the government has compromised its ability to effectively manage the economy.

The NANS leadership pointed out that the central bank’s primary goals, which include ensuring macroeconomic stability, maintaining price stability, achieving full employment, and regulating the money supply, cannot be met under the current conditions.

The statement emphasised the wealth of expertise within the CBN and the broader academic community, advocating for the bank to utilize these resources to develop and implement strategies to curb the economic crisis.

NANS urged the CBN to foster partnerships with other key sectors, including government agencies, academia, and the private sector, to create a more robust and integrated approach to solving the underlying issues causing hyperinflation.

The students’ association believes that with an autonomous CBN at the helm, Nigeria can chart a course towards sustainable economic policies and long-term stability. The call to action from NANS comes at a time when Nigeria faces significant economic challenges, with the populace bearing the brunt of rising prices and a devaluing currency.

“Additionally, transparency and accountability are essential in ensuring the effectiveness of CBN policies and interventions. The central bank should operate with utmost transparency, providing regular updates on its decision-making processes, policy actions, and outcomes. This transparency will foster public trust and confidence in the CBN’s ability to manage the economy effectively,” the statement reiterated.

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Court vacates arrest warrant against Kwara ex-finance commissioner

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By Saka Laaro, Ilorin

A Federal High Court sitting in Ilorin, Kwara State has vacated the bench warrant issued for the arrest of the state’s former commissioner for finance, Demola Banu.

The Economic and Financial Crimes Commission (EFCC) had ealrier sought a warrant on the allegation that the second defendant (Banu) refused appearance.

At the commencement of the hearing between the anti-graft agency and the Kwara state’s former Governor Abdulfatah Ahmed (first defendant) and his Commissioner, the court one judge, Evelyn Nmasinulo granted the request sought by the lead counsel to Banu, Gboyega Oyewole Senior Advocate of Nigeria (SAN,) on the ground that the defendant was present at the  hearing.

According to the proceedings, the defendants were changed with eleven same counts bothering on financial impropriety while in office. All charges they pleaded not guilty.

The second defendant counsel however sought bail for his client which was later granted at N5m and two sureties in the same conditions.

He however pleaded for an adjournment to enable him file some documents that would aid the proper defence of his client.

Justice Evelyn Nmasinulo later adjourned further sitting to June 25 and 26.

Addressing newsmen, the lead counsel to Banu, Barrister Oyewole said: “we vacated the bench warrant issued for the arrest of our client because it was wrongly issued and we secured adjournment to the 25 and 26 with N5M bail grant and two sureties in like sum.”

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I didn’t take bribe during my 35years in service – Outgoing Anambra CP 

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By Raymond Ozoji, Awka

Outgoing Anambra Police Commissioner, CP Aderemi Adeoye, has said he didn’t take bribe or any form of gratification in all the 35 years he served in the Nigeria Police Force (NPF)

CPAdeoye who stated this during a valedictory media briefing on Monday at the Command Headquarters Amawbia Awka-South Local Government Area of the state, said he was bold to say it because he was not a desperate police officer and he did everything possible to resist such temptations.

He said it was the same orientation he gave to his officers when he assumed duty as Commissioner of Police in Anambra State. Adeoye said he told his officers to do their jobs selflessly and eschew anything that would lure them into accepting bribe because they know that if they get into trouble, he would not cover their crimes and the law, he said, must take its full cause on erring officers.

The outgoing police boss who told journalists categorically that he has no regrets whatsoever in his 35 years career, noted that every moment of his career has been action-packed and very fulfilling even as he stated that it was time to bow out of the police and try his hands on other aspects of life.

CP Adeoye who thanked journalists for their partnership, support and cooperation, also expressed gratitude to the Anambra State Government, saying that the cooperation he enjoyed in Anambra State was unprecedented.

He also recalled that he had previously served in Anambra as DC OPS in the 90s. That he was equally in Anambra as CP Election before he was eventually posted back to Anambra State as Commissioner of Police in July last year.

He said the cooperation he got as Commissioner of Police from Anambra people was enough to last him a lifetime and that he was really grateful to the citizens of the state.

Adeoye whose pull-out ceremony was done last Saturday at the Dr. Alex Ekwueme Square Awka, said he would officially bow out of service on Tuesday 30th April, adding that it was really a jolly good time serving as Commissioner of Police in Anambra State.

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Adeleke flags off construction of 6.2Km dualization road in Osun

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By Ismail Azeez, Osogbo

Osun State Governor, Ademola Adelake has flagged off the construction of the 6.2km dualization of Ereje Square, Imo, Ilesa/Akire expressway road at a cost of N16billion.

Speaking at the inauguration of the dualization road on Tuesday, Adeleke said the road is divided into two sections which will commence simultaneously and will be completed in the next 12 months.

Governor Adeleke said the government under his watch is focused on easing the burden of motorists and facilitating trade between the Ilesa city centre and outer areas.

He urged people around the construction area to give adequate support to the contractors as the companies commence work on-site, saying the government has handled all outstanding issues.

The Governor assured that the government will reward the property owners whose buildings are affected.

In his words, he said; “I assure that all those whose houses are marked for demolition will be duly compensated.”

According to him, “This is an historic continuation of our focus on Infrastructure upgrade of Osun State and Ijeshaland in particular.”

“We are all aware of our government multi-billion naira infrastructure plan for Osun state. When we announced the ambitious agenda last December, we were constrained by low funding. So we then decided to implement the infra plan in phases.”

“We divided the various projects in the agenda into segments for funding as financing capacity increases. We started phase one for completion latest by December while we are launching a new phase to be completed in the next 12 months. ”

“The new phase we are launching will cover both Ilesa and other zones. As we are aware, Ilesa is to benefit from dualisation of a major road while other zones are to have flyover bridges among others. We must note that apart from the flyover and road dualisation, our government is also billed to construct a total of over 16.5kilometers of road across the Eastern Senatorial district at 1.5 kilometers of roads per local government.”

“We are here today for Ilesa ground breaking while in the next few days, we will be heading to Ile Ife, the cradle of Yoruba people. When I visited our royal father last time, I was touched by his commendation for me and our love for Ijeshaland.”

“I use our royal father, the Owa Obokun of Ijesaland as a point of contact to Ijesa elders, elite and sons and daughters to assure them of our commitment to continue to accord Ijesaland its rightful place. I am demonstrating this love for Ijesa people through high profile appointments and infrastructure provisions.”

“We have records of hardship and gridlock encountered by users of this road especially around Ereja Square. A dualised road across that route will open up Ilesa city centre, facilitate trade and ease movement of goods and people.”

“And so today, we are flagging off the dualization of this road which by the grace of God shall be completed in 12 months. This road which is 6.2km length with 9.0m width for each carriageway with a median installed with solar street lights, walkway and a boulevard at some section of the road shall bring out the glory of Ijesha land.”

“The dualization of this road is divided into two sections which will commence simultaneously at a total cost of N16,570,862,248.07. After due compliance with procurement laws, section one of the project was awarded to Horizon Nigeria limited while the second section will be handled by Showie-tee Global Services Limited.”

“My dear people of Ijeshaland and Osun state in general, our administration promises local content in the infra development of our state. The agenda is to boost the local economy as noted in our five point agenda. We are convinced that Osun money should revolve within the Osun economy and the best tool to accomplish such is to ensure localisation in procurement practices,” he added.

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