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December 14, 2023 Naira Scarcity: Cardoso Blames Redesign Policy, Pledges Policy Overhaul

Naira Scarcity: Cardoso Blames Redesign Policy, Pledges Policy Overhaul

Central Bank of Nigeria Governor Yemi Cardoso has blamed the recent cash scarcity on the flawed implementation of the naira redesign policy.

He made this known while speaking at the World Bank Nigeria Development Update launch in Abuja, which projected a 3.5 per cent annual growth for the 2023 to 2026 fiscal year.

Cardoso noted many feared the old notes would lose legal tender status, prompting them to hoard cash.

He said a thorough review will be done on all policies to produce a document outlining clear rules and procedures for navigating the Nigerian money market.

The CBN governor also assured that the Supreme Court’s recent ruling upholding the validity of the old notes beyond the initial deadline will ease cash into circulation.

December 13, 2023 EFCC Declares Obasanjo’s Ex-Power Minister Wanted Over $6bn Fraud

EFCC Declares Obasanjo’s Ex-Power Minister Wanted Over $6bn Fraud

On Wednesday, the Economic and Financial Crimes Commission (EFCC) issued a declaration of wanted status for former Minister of Power and Steel, Olu Agunloye, in connection with alleged fraud amounting to $6 billion.

Olu Agunloye, who served as a minister under the administration of President Olusegun Obasanjo from 1999 to 2003, had previously been summoned and interrogated by the anti-graft agency. Before his invitation in September, reports revealed that former President Obasanjo accused Agunloye of mismanagement in the power project during his tenure, particularly noting his failure to provide updates on the project's status.

Before his summons by the EFCC, Agunloye had contested for the position of governor in Ondo State in 2016 under the Social Democratic Party.

The EFCC, in a notice posted on its website, declared Agunloye wanted and accused the Ondo State native, specifically from Akoko North Local Government Area, of corruption and forgery. The announcement, signed by EFCC spokesman Dele Oyewale, urged Nigerians to report to the nearest police stations or EFCC zonal offices if they come across Agunloye.

The statement read, "Anybody with useful information as to his whereabouts should please contact the Commission in its Benin, Kaduna, Ibadan, Sokoto, Maiduguri, Mardi, Ilorin, Enugu, Kano, Lagos, Gombe, Uyo, Port Harcourt, and Abuja offices or contact 08093322644 or email info@efcc.gov.ng or the nearest police station and any other security agencies."

December 13, 2023 Lagos Recorded Zero Bank Robbery In Four Years, Says Sanwo-Olu

Lagos Recorded Zero Bank Robbery In Four Years, Says Sanwo-Olu

Lagos State Governor Babajide Sanwo-Olu highlighted a remarkable achievement during the 17th Town Hall Meeting on Security organized by the Lagos State Security Trust Fund (LSSTF).

The governor proudly announced that the state had experienced four consecutive years without any bank robberies, marking the longest period of such security success in the last two decades.

During the meeting held on Tuesday, Governor Sanwo-Olu attributed this achievement to the continuous review of the state's security architecture and surveillance measures. His Chief Press Secretary, Gboyega Akosile, released a statement capturing the governor's remarks.

In a tweet, Governor Sanwo-Olu celebrated the milestone in security, emphasizing the positive impact of relentless efforts to enhance safety across Lagos State. He shared insights from the discussions at the Town Hall meeting, where progress and strategies for further fortifying safety were addressed.

Governor Sanwo-Olu assured the public of his government's unwavering commitment to intensifying security measures in the upcoming year. He disclosed plans to boost security, citing his leadership in the LSSTF donation drive that raised N2 billion in voluntary contributions. The governor expressed gratitude for generous donations, including a significant pledge of N1 billion from Mr. Femi Otedola.

Highlighting specific initiatives, Governor Sanwo-Olu mentioned strengthening the Lagos Neighborhood Safety Corps (LNSC) for enhanced intelligence gathering. Additionally, the Emergency Call Center is undergoing restructuring to improve reporting mechanisms. The commitment to a safer Lagos was further underscored by providing 300 new patrol vehicles to support security agencies.

As the governor looks ahead to 2024, these comprehensive security measures aim to reinforce the state's commitment to the safety and well-being of its residents.

December 13, 2023 Fubara Hails Wike On 56th Birthday Amid Rivers Assembly Crisis

Fubara Hails Wike On 56th Birthday Amid Rivers Assembly Crisis

Amid the crisis rocking the Rivers State House of Assembly over an impeachment plot against him, Governor Siminalayi Fubara congratulated his predecessor, Nyesom Wike, on his 56th birthday anniversary on Wednesday.

READ ALSO: Rivers Assembly Complex Demolished, Fubara Presents Budget At Govt House

Fubara, who is in the eye of the storm in the oil-rich South-South over a feud with his predecessor, described Wike as his “Oga”.

“Your Excellency, my dear wife and I, and the good people of Rivers State, join your family and friends to facilitate you on this day,” the governor said in a birthday post on his verified account on X (formerly Twitter).

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