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January 15, 2025 Shettima and Others Honor Fallen Soldiers on 2025 Armed Forces Remembrance Day

Shettima and Others Honor Fallen Soldiers on 2025 Armed Forces Remembrance Day

On Wednesday, January 15, 2025, the atmosphere at the iconic Eagle Square in Abuja was solemn and reflective as Nigeria paused to honor the unparalleled patriotism and sacrifices of its fallen heroes during the 2025 Armed Forces Remembrance Day.

At 64 years post-independence, Nigeria's continued existence owes much to the bravery of countless gallant troops who laid down their lives to defend the nation’s territorial integrity and sovereignty.

Vice President Kashim Shettima stood in for President Bola Tinubu, who was attending the Abu Dhabi Sustainability Week in the UAE. Alongside Shettima, other high-ranking government officials and dignitaries participated in the solemn event, which included the laying of wreaths, gun salutes, and other military rituals.

The ceremony witnessed the presence of Senate and House of Representatives leaders, service chiefs, the Inspector General of Police, and the Chief Justice of Nigeria, among others. Ministers, senior government officials, top military officers, members of the diplomatic corps, and family members of the fallen heroes—such as widows and wives of military officers—also joined to pay tribute to the nation’s defenders.

In a prior statement, the Senate praised the selfless sacrifices of Nigeria’s armed forces, extending commendation to active-duty officers and soldiers who continue to safeguard the nation from internal and external threats.

The annual Armed Forces Remembrance Day stands as a poignant reminder of the debt of gratitude owed to the courageous men and women who have served—and continue to serve—to uphold Nigeria's peace and sovereignty.

January 15, 2025 Six People Killed in Kogi Road Accident

Six People Killed in Kogi Road Accident

No fewer than six people lost their lives, and 60 others sustained injuries in a road accident in Lokoja, the capital of Kogi State.

The tragic incident occurred around 3 pm on Tuesday near the Zone 8 Roundabout along Hassan Katsina Road, Lokoja. According to reports, an articulated truck traveling from Bauchi to Enugu State lost control, resulting in the devastating crash.

“The remains of the six deceased have been deposited at the Federal University Teaching Hospital mortuary,” stated Samuel Oyedeji, the State Sector Commander of the Federal Road Safety Corps (FRSC).

A local resident, who requested anonymity, described chaotic scenes as first responders worked tirelessly to manage the aftermath of the accident. “It was a horrific sight. People were trapped, and it took hours to clear the scene,” the resident recounted.

Commander Oyedeji called on drivers to exercise greater caution, particularly when operating heavy-duty vehicles. He also urged the government to intensify efforts to address road infrastructure challenges and enforce traffic regulations.

“As investigations into the cause of the accident continue, Nigerians are reminded of their shared responsibility to ensure safer roads for all,” he added.

This incident comes months after a similar tragedy in the state. On April 1, 2024, 13 people lost their lives, and two were injured in an auto crash involving a commercial Sharon bus and an articulated cement truck. The accident occurred near Obajana Market along the Obajana-Lokoja Road in Lokoja Local Government Area.

According to Oyedeji, the Sharon bus had stopped behind a truck near the market to allow passengers to make purchases when the cement truck, due to brake failure, rammed into it from behind.

The FRSC continues to advocate for stricter adherence to road safety measures to prevent such devastating incidents in the future.

 

January 15, 2025 CBN Imposes ₦150m Fine on Nine Banks Over ATM Cash Shortage

CBN Imposes ₦150m Fine on Nine Banks Over ATM Cash Shortage

In a decisive move to uphold cash flow stability, the Central Bank of Nigeria (CBN) has imposed penalties on nine Deposit Money Banks (DMBs) for failing to provide adequate Naira notes through automated teller machines (ATMs) during the Yuletide season.

Each of the affected banks has been fined ₦150 million for breaching the CBN’s cash distribution guidelines. This enforcement action came after spot checks conducted on their branches revealed non-compliance.

The CBN’s stringent action underscores its repeated warnings to financial institutions about the need to ensure seamless cash availability, especially during periods of high demand. The banks penalized include Fidelity Bank Plc, First Bank Plc, Keystone Bank Plc, Union Bank Plc, Globus Bank Plc, Providus Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, and Sterling Bank Plc.

In an official communication, the CBN confirmed that the fines would be debited directly from the respective banks' accounts with the apex bank. Acting Director of Corporate Communications, Hakama Sidi Ali, emphasized the importance of maintaining cash flow to foster public trust and economic stability.

“Ensuring seamless cash flow is paramount to maintaining public trust and economic stability. The CBN will not hesitate to impose further sanctions on any institution found violating its cash circulation guidelines,” she stated.

The apex bank’s investigations and monitoring efforts remain ongoing, with a focus on identifying instances of cash hoarding and rationing at bank branches and among Point-of-Sale (POS) operators. To combat illegal cash sales and operational violations, including exceeding POS operators’ daily cumulative withdrawal limit of ₦1.2 million, the CBN is collaborating with security agencies.

Governor Olayemi Cardoso reiterated the bank’s commitment to ensuring efficient cash distribution during his address at the Annual Bankers’ Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in November 2024. He warned financial institutions to strictly adhere to the CBN’s cash distribution policies or face severe penalties.

“Our focus remains on fostering trust, ensuring stability, and guaranteeing seamless cash circulation across the financial system,” Cardoso stated, emphasizing the CBN’s resolve to maintain a robust cash buffer to meet Nigerians’ needs.

The CBN has called on all financial institutions to strictly comply with its guidelines, warning that further violations would prompt swift and decisive actions to protect economic stability and public confidence.

 

January 14, 2025 FG urges bold reform, smarter investments for economic growth

FG urges bold reform, smarter investments for economic growth

To address the current state of the economy, the federal government has called for bold reforms and more intelligent investments.

This call was given by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, at the Islamic Development Bank (IsDB) Governors’ Retreat in Al-Madinah, Saudi Arabia.

Mohammed Manga, the ministry’s director of information and public relations, said in a press statement on Monday that the minister emphasized the necessity for the IsDB to reconsider its approach to development funding in view of the current economic difficulties.

He urged the bank to concentrate on investments with high returns in order to provide sustainable funding, and he called for revolutionary, high-impact initiatives in the fields of energy, train, agriculture, and infrastructure.

“Edun also highlighted the importance of innovative funding solutions tailored to national priorities and debt dynamics, stressing the urgent need for a concessional financing strategy that balances development goals with minimal debt accumulation,” the statement read.

Edun’s support of creative finance, audacious reforms, and strict oversight as the IsDB launches its new 10-year plan highlights Nigeria’s commitment to promoting sustainable development and revolutionary transformation in the area.

“Achieving this vision and building a better future for future generations will require the IsDB and its member states to work together,” the statement said.

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