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August 21, 2023 Wike, Adelabu, Umahi, And Others Take An Oath Of Office As Ministers
IFMNEWS

Wike, Adelabu, Umahi, And Others Take An Oath Of Office As Ministers

The solemn event of inaugurating 45 ministers-designate into the Federal Executive Council is currently in progress at the Conference Centre of the State House in Abuja.

Aguri Ngelale, the Special Adviser to President Bola Tinubu on Media and Publicity, took the podium to read the citations of the ministers, setting the stage for their official oaths of office.

Chief Justice of Nigeria, Olukayode Ariwoola, presides over the administration of the oath, marking a significant moment in the formal induction of these appointed individuals into their ministerial roles.

The Senate had granted confirmation to 45 of the 48 nominees submitted by the President on August 7. This momentous step signifies the culmination of an extensive process to identify and select capable individuals for these ministerial responsibilities.

The swearing-in ceremony follows a meticulous organisation, with ministers-designate taking their oaths according to their respective states of origin, reflecting the diversity of Nigeria's representation in the Federal Executive Council.

This notable occasion unfolded just days after President Bola Tinubu unveiled the portfolio assignments for the ministerial nominees.

Noteworthy; appointments included former Rivers State governor Nyesom Wike as the Minister of Federal Capital Territory and Festus Keyamo as Minister of Aviation.

August 21, 2023 ECOWAS Rejects Niger Junta’s Three-Year Transition Plan
IFMNEWS

ECOWAS Rejects Niger Junta’s Three-Year Transition Plan

The Economic Community of West African States (ECOWAS) has firmly declined the military junta's proposed three-year power transition strategy.

Abdel-Fatau Musah, the ECOWAS Commissioner for Political Affairs, Peace, and Security, conveyed this decision during an interview with the BBC.

In a late-night announcement on Saturday, Abdourahmane Tchiani, the self-declared leader of the Niger Republic, declared that the nation would transition back to civilian governance within three years.

However, no specific details regarding the plan were provided. Tchiani mentioned that the foundational principles of this transition period would be established within the next 30 days through a dialogue facilitated by the junta.

This declaration followed a meeting between the junta leader and a delegation from ECOWAS, led by Nigeria's former head of state, Abdulsalami Abubakar.

In response to Tchiani's proposed timeline, ECOWAS Commissioner Musah asserted that the organisation would no longer accept extended regional transition periods. This firm stance highlights ECOWAS's commitment to ensuring timely and effective transitions in governance within the West African region.

August 21, 2023 Pre-Inauguration Shuffle: Tinubu Reassigns Oyetola, Tunji-Ojo, Momoh, And More
IFMNEWS

Pre-Inauguration Shuffle: Tinubu Reassigns Oyetola, Tunji-Ojo, Momoh, And More

In a significant move ahead of the inauguration, President Bola Tinubu has given his nod to a series of ministerial redeployments and renamed a key ministry.

The Federal Ministry of Environment and Ecological Management has been officially rebranded as the Federal Ministry of Environment.

Former Governor of Osun State and Minister-designate Adegboyega Oyetola has witnessed a notable redeployment, shifting from his prior role in the Ministry of Transportation to taking on a new role in the Ministry of Marine and Blue Economy.

According to a statement released by the President's spokesperson, Ajuri Ngelale, Minister-designate Bunmi Tunji-Ojo has been reassigned to the Ministry of Interior. Simultaneously, Sa’idu Alkali, another minister-designate, has taken on the responsibilities of the Ministry of Transportation.

Another significant change involves the redeployment of minister-designate Abubakar Momoh from the Federal Ministry of Youth to the Federal Ministry of Niger Delta Development.

This move has garnered attention, especially since the Niger Delta ministry had been conspicuously absent from the previous list of appointments, sparking various reactions. Notably, the Federal Ministry of Youth is yet to be allocated to a Minister-Designate soon.

Moreover, notable shifts have occurred in the Oil & Gas sector, where both Ministers of State have been integrated into the Federal Ministry of Petroleum Resources. Heineken Lokpobiri is now the Minister of State (Oil), and Ekperipe Ekpo holds the Minister of State (Gas) position.

In the preceding week, President Tinubu unveiled the portfolios for the 45 ministers-designate, reserving the position of Minister of Environment and Ecological Management specifically for a representative from Kaduna State. These changes mark a strategic restructuring in the lead-up to the inauguration, signifying a dynamic shift in ministerial responsibilities and naming conventions.

August 18, 2023 Falana Sues CBN, Claiming That Floating The Naira Is ‘Illegal’
IFMNEWS

Falana Sues CBN, Claiming That Floating The Naira Is ‘Illegal’

Human rights lawyer Femi Falana, SAN, has condemned the Central Bank of Nigeria’s decision to float the naira.

Falana also stated that he is taking the decision to float the naira to court, claiming that it is “illegal.”

The CBN purportedly told Deposit Money Banks to allow the naira to float freely against other currencies on June 14, when it was trading in a range of 730 to 755 against the dollar at the Investors and Exporters window. According to the CBN website, the current exchange rate is N744 to N746.

Falana, on the other hand, claimed that the CBN Act requires the central bank to set the currency rate.

According to Falana, Section 20(1) of the CBN Act says that the only formal legal tender in Nigeria is the Central Bank’s currency notes, especially the naira. He went on to say that under Section 20(5) of the Act, using any other currency in Nigeria without the authority of the central bank is a crime punishable by six months in prison.

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