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CBN defends its forex importation ban on stockfish

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coic
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The Central Bank of Nigeria has stated that the importation ban on stockfish was put in place to protect foreign exchange (forex), revive the domestic fishing industry, and increase job creation.

This comes after the Norwegian Seafood Council made public the fact that stockfish imports from Norway to Nigeria fell by 5.9% in 2022, from N3.4 billion in 2021 to N3.2 billion.

According to the Council, 10,740 metric tons of stockfish, which include the head and body, were imported into the nation in 2022, trailing the imports of 14,997 and 13,845 metric tons of mackerel and herrings, respectively.

Speaking at the recently concluded Norwegian Seafood Seminar in Lagos, the CBN’s Director of Trade and Exchange Department, Dr. Ozoemena Nnaji, explained that due to the country’s current lack of foreign currency, stockfish had to be added to the list of 43 products that are prohibited from accessing foreign exchange.

Nnaji, who was represented by Mrs. Bukola Adenubi, a representative of the apex bank, added that the action was also intended to increase Nigerians’ capacity for local fishing with a view to exporting aquatic products.

In order to preserve its limited foreign currency, the CBN in 2015 restricted access to 43 items, including stockfish.

“The restriction’s goals are to preserve foreign exchange, revive domestic industries, and increase job creation. Be aware that the restriction affects access to FX rather than imports.

The Federal Government was urged to reconsider removing stockfish from the list by Mr. Trond Kostveit, Director Africa of the Norwegian Seafood Council. He stated: “We started the process three years ago to see if it is possible to delist stockfish from foreign exchange ban because there are many good arguments why the product should not be on the list.

“Stockfish is now quite expensive in local markets, especially for consumers, due to the forex ban.

Read also: NDIC starts checking insured Peak Merchant Bank depositors’ accounts

“Stockfish imports are suffering as a result of the price of obtaining foreign exchange on the black market. Stockfish heads are the only source of protein for consumers.

If we can gain access to the official exchange rate, we can lower the price of fish for consumers, according to Kostveit.

He said Nigerian fish species were not in competition with Norway.

Although the product is not a threat to Nigerian aquaculture, we understand that the ban is intended to support local aquaculture production.

“When we tried to argue that stockfish has grown to be such a crucial component of the Nigerian diet and that it is crucial that we make it more affordable.

As a result, he said, “we will continue this appeal and hopefully, we can see that stockfish can soon be delisted from the foreign exchange ban.”

 

NDIC starts checking insured Peak Merchant Bank depositors’ accounts

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coic
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In accordance with its mandate to guarantee deposits and compensate depositors in the event of bank failure, the Nigeria Deposit Insurance Corporation (NDIC) has started to verify insured Peak Merchant Bank depositors’ inability to pay their insured sums.

According to a press release from the NDIC’s Director of Communication and Public Affairs, Bashir Nuhu, the verification exercise would allow depositors of the bank to close to cross-check and determine their account information and balances.

The process, according to the press release, is a step before such depositors receive their insured sums.

Read Also: Youths bury two Benue men alive

To complete the exercise, depositors are advised to go to the bank’s former location or the Corporation office that is closest to them with identification that can be verified and proof of account ownership.

According to the NDIC, the insured sum is the initial and required payment that depositors receive in the event that a bank fails, up to the predetermined limit.

Additionally, as liquidation dividends from the proceeds of the closed bank’s assets as realized by NDIC as liquidator, depositors are later paid sums in excess of the insured sums.

New Group Forms In Reps, Recruits Members For Key Positions

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coic
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The 10th Assembly’s struggle for the Speaker of the House of Representatives took an interesting turn on Monday with the emergence of the pressure group known as “New Dawn,” which is vying for lucrative leadership positions.

The organization declared that it was profiling each candidate for the Speakership and other positions before making a decision as a group as to who would receive votes to become the Speaker.

‘New Dawn’ is reportedly being led by recently elected House of Representatives members, and its membership crosses political boundaries.

They claimed to be united and steadfast in their commitment to working with every member of the House of Representatives to draft strong legislation that would improve the lives of Nigerian citizens and give birth to a new Nigeria.
the meeting’s invitation signed by the incoming House representative for the AMAC/Bwari federal constituency,

According to Joshua Chinedu Obika and information obtained by journalists on Monday, the meeting took place at the Transcorp Hilton in the capital.

Esan West, Esan Central, and Igueben federal constituency member-elect and Speaker of the Edo State House of Assembly, Rt Hon Marcus Onobun, organized the “New Dawn.”
Hon. Ukodhiko Jonathan Ajirioghene, representing the federal district of Isoko South in Delta State, Hon. Yusuf Kure Naraje, representing the federal district of Bosso/Paiko in Niger State, and Hon. Jafaru Gambo, representing the federal district of Bogoro/Dass/Tafawa Balewa in Bauchi State, are other notable members of the organization.

According to Onobun, the goal of the group’s formation was to set a new course that would promote Nigerian unity through deliberate legislative engagement on the part of the house.

He claims that the group is worried about true federalism and the constitutional amendments that the 9th National Assembly failed to pass.

The APC, PDP, APGA, LP, SDP, NNPP, ADC, YPP, and other intellectuals from various political parties make up the New Dawn caucus of the 10th Assembly, he claimed. This New Dawn is made up of newly elected National Assembly members who have excelled in their various fields of endeavor, regardless of political allegiances or religious background, in order to steer Nigeria in a new direction. Additionally, it pertains to legislation, the creation of Bills, policy development, and member welfare. We’ll also keep an eye out for any areas where Nigerians have expressed a desire for legislation and support those programs. For instance, the 9th Assembly was unable to pass the constitutional amendment that would have allowed for true federalism and a portion of the constitutional review.

Read Also: Gunmen kidnap NPC commissioner for Bayelsa, demand N500m

In the 10th National Assembly, we hope to revive those bills and convince the Executive to support them. In addition, a leader for the 10th Assembly will be chosen in the House of Representatives, irrespective of party. Even though we are aware that the APC constitutes a numerical majority, the other political parties are combined to create a larger majority.

“It means that we are trying to look at the North and that the New Dawn caucus wants to be fully involved in selecting the House leadership. however, profiling each candidate for the Speakership and other positions before voting as a group to determine who will take the position of Speaker.

Hon. Martins Esin, the member-elect for Akwa Ibom State’s Oron/Mbo/Udung Uko/Urueoffong Oruko Federal Constituency, echoed the convener’s assertion that the membership was passionate about enacting positive change in the House of Representatives.

“We are a group of newly elected members who are enthusiastic about the development of this nation. We have come together to say that we want to see bills, and the 10th Assembly will precisely reflect the aspirations of Nigerians. It is not a group that experiences racial or religious prejudice, he claimed.
Read Also:

Hon. Jeremiah Umaru, a member-elect for Nasarawa State’s Akwanga/Wamba Nasarawa Eggon federal constituency, said the new group was ready to support leadership that would serve the interests of Nigerians.

Pastor Ojema Ojotu, a member-elect for Benue State’s Apa/Agatu federal constituency, claimed that the results of the most recent election made it abundantly clear that Nigerians were fed up with the status quo.

We are aware that our people appear to be sick of the status quo and that there is a strong desire for a change, he said. There is no better way to explain that desire, as you will find out if you examine the voting trends and how we performed.

“Over 300 people were voted out of the House and 360 were voted in as new members; that one action of our electorates would convey to you that they are not happy with the way things are being done. That indicates that Nigerians are more determined than ever to bring about change.

We at “New Dawn” want to do away with the idea of money politics, so we’ve promised not to take donations from any candidates instead choosing those who have integrity, capacity, and a clear plan.

 

 

 

Gunmen kidnap NPC commissioner for Bayelsa, demand N500m

By
coic
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0

Gloria Izonfuo, the Federal Commissioner who represents Bayelsa State at the National Population Commission, has been abducted by some gunmen.

According to reports, she was kidnapped on Sunday night in the Emohua Local Government Area of Rivers State, close to the Ogbakiri junction on the East-West Road.

At around 6:30 p.m., the thugs reportedly ambushed Izonfuo as she was traveling to Port Harcourt, the capital of Rivers State, from a visit to Bayelsa State’s Brass Local Government Area.

It was discovered that the NPC federal commissioner’s vehicle was stopped by the kidnappers, who took the woman, her driver, and her maid at gunpoint.

Read Also: New group forms in Reps, recruits members for key positions

Our correspondent discovered that the bandits had asked for a N500 million ransom in exchange for the release of the captives.

Grace Iringe-Koko, a spokeswoman for the Rivers State Police Command, confirmed the incident.

She claimed that the tactical teams of the command were to mobilize immediately in order to rescue the victims as per the Commissioner of Police’s directive.

 

New group forms in Reps, recruits members for key positions

By
coic
-
0

The 10th Assembly’s struggle for the Speaker of the House of Representatives took an interesting turn on Monday with the emergence of the pressure group known as “New Dawn,” which is vying for lucrative leadership positions.

The organization declared that it was profiling each candidate for the Speakership and other positions before making a decision as a group as to who would receive votes to become the Speaker.

‘New Dawn’ is reportedly being led by recently elected House of Representatives members, and its membership crosses political boundaries.

They claimed to be united and steadfast in their commitment to working with every member of the House of Representatives to draft strong legislation that would improve the lives of Nigerian citizens and give birth to a new Nigeria.
the meeting’s invitation signed by the incoming House representative for the AMAC/Bwari federal constituency,

According to Joshua Chinedu Obika and information obtained by journalists on Monday, the meeting took place at the Transcorp Hilton in the capital.

Esan West, Esan Central, and Igueben federal constituency member-elect and Speaker of the Edo State House of Assembly, Rt Hon Marcus Onobun, organized the “New Dawn.”
Hon. Ukodhiko Jonathan Ajirioghene, representing the federal district of Isoko South in Delta State, Hon. Yusuf Kure Naraje, representing the federal district of Bosso/Paiko in Niger State, and Hon. Jafaru Gambo, representing the federal district of Bogoro/Dass/Tafawa Balewa in Bauchi State, are other notable members of the organization.

According to Onobun, the goal of the group’s formation was to set a new course that would promote Nigerian unity through deliberate legislative engagement on the part of the house.

He claims that the group is worried about true federalism and the constitutional amendments that the 9th National Assembly failed to pass.

The APC, PDP, APGA, LP, SDP, NNPP, ADC, YPP, and other intellectuals from various political parties make up the New Dawn caucus of the 10th Assembly, he claimed. This New Dawn is made up of newly elected National Assembly members who have excelled in their various fields of endeavor, regardless of political allegiances or religious background, in order to steer Nigeria in a new direction.Additionally, it pertains to legislation, the creation of Bills, policy development, and member welfare. We’ll also keep an eye out for any areas where Nigerians have expressed a desire for legislation and support those programs. For instance, the 9th Assembly was unable to pass the constitutional amendment that would have allowed for true federalism and a portion of the constitutional review.

In the 10th National Assembly, we hope to revive those bills and convince the Executive to support them. In addition, a leader for the 10th Assembly will be chosen in the House of Representatives, irrespective of party. Even though we are aware that the APC constitutes a numerical majority, the other political parties are combined to create a larger majority.

“It means that we are trying to look at the North and that the New Dawn caucus wants to be fully involved in selecting the House leadership. however, profiling each candidate for the Speakership and other positions before voting as a group to determine who will take the position of Speaker.

Hon. Martins Esin, the member-elect for Akwa Ibom State’s Oron/Mbo/Udung Uko/Urueoffong Oruko Federal Constituency, echoed the convener’s assertion that the membership was passionate about enacting positive change in the House of Representatives.

“We are a group of newly elected members who are enthusiastic about the development of this nation. We have come together to say that we want to see bills, and the 10th Assembly will precisely reflect the aspirations of Nigerians. It is not a group that experiences racial or religious prejudice, he claimed.
Read Also:

Hon. Jeremiah Umaru, a member-elect for Nasarawa State’s Akwanga/Wamba Nasarawa Eggon federal constituency, said the new group was ready to support leadership that would serve the interests of Nigerians.

Pastor Ojema Ojotu, a member-elect for Benue State’s Apa/Agatu federal constituency, claimed that the results of the most recent election made it abundantly clear that Nigerians were fed up with the status quo.

We are aware that our people appear to be sick of the status quo and that there is a strong desire for a change, he said. There is no better way to explain that desire, as you will find out if you examine the voting trends and how we performed.

“Over 300 people were voted out of the House and 360 were voted in as new members; that one action of our electorates would convey to you that they are not happy with the way things are being done. That indicates that Nigerians are more determined than ever to bring about change.

We at “New Dawn” want to do away with the idea of money politics, so we’ve promised not to take donations from any candidates instead choosing those who have integrity, capacity, and a clear plan.

 

10th NASS: Support Betara, other popular candidates become Speaker – Groups tell PGF

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coic
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0

Over 100 civil society groups have asked the Progressives Governors Forum and other lobby groups to back popular candidates who are accepted by the members-elect to emerge as Speaker of the House of Representatives.

The groups, under the aegis of the National Democratic Coalition, said that Nigeria’s democracy is evolving and any contrary move will truncate it.

In a statement signed by Dr. Ben Amodu, the CSOs said Asiwaju Bola Ahmed Tinubu emerged as President-elect because he was the popular choice of the masses across ethnic and religious lines, hence other prominent candidates should also be supported to emerge at other levels.

Quoting from Chapter 5, Part 2 Section 92 of the Constitution, Amodu said the Speaker and Deputy Speaker are elected by members of the House among themselves.

According to him, the requisite condition to become Speaker is acceptability among members of the House of Representatives.

Amodu said for any candidate to be wholly accepted across party lines, it means he/ she is exceptional with good moral standards devoid of bias and sentiments.

He further said that Hon Aliyu Muktar Betara is among the few candidates who are well-accepted for the position of Speaker.

Read Also: Breaking: Ibadan Building Collapse Kills Many, Traps Others

Amodu noted that his popularity is based on his competence, track record, and knack for excellence.

“We have it on good authority that some governors are interested in the position of Speaker. They are bent on foisting their cronies on the House of Representatives,” he said.

“While we acknowledge that this is typical of Nigerian politics, it is time to put an end to it. The Constitution already stipulates how the Speaker should emerge and we strongly advise that this should be followed to the latter.

“Let’s give all interested persons a level playing field. Let them test their popularity on the floor of the House. Anybody who wins will be seen as the best choice for the nation.

“Indeed, some candidates are already making waves. One of them is Hon Aliyu Betara representing Biu/Bayo/Shani and Kwaya Kusar Federal Constituency. Aside from being a five-term legislator, Betara is considered a powerful politician with strong persuasive ability.

“While his rivals are busy hauling from one governor to the other, he is seriously consulting with his colleagues. Over the years, he has built wide networks that are already evident in his mini-campaign.

“How you will know a good leader is his ability to build a friendship at the slightest instance. Betara is loved across the country. He is at peace with old members while the new ones look up to him.

“But what sets him apart is his track record, integrity and capacity. It is not enough to be a unifier, can you do the job? Betara indeed ticks all the boxes and it will be a huge mistake if the governors don’t support him.”

Breaking: Ibadan Building Collapse Kills Many, Traps Others

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coic
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0

A collapsed Oyo state apartment block killed many people, according to a report.
On Saturday, April 22, The Nation reported the tragedy. According to reports it reported that the incident occurred at the Sango Police Barracks in Ibadan, the Oyo state capital. A three-story residential building faces the collapsed structure. The Oyo state emergency service response team has yet to comment on the tragedy.

Gbajabiamila, Betara, Maihanci mourn Taraba Representative-elect

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coic
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Rep. Femi Gbajabiamila, the Speaker of the House of Representatives, has expressed sorrow over the passing of Mr. Ismaila Maihanci, a member-elect from Taraba.

Gbajabiamila expressed his sorrow over Maihanci’s death at the age of 37 in a statement on Saturday. Maihanci had recently been elected to represent the Jalingo/Yorro/Zing Federal Constituency.

The speaker said that from what little he knew about Maihanci, he was a Nigerian who was prepared to serve his people faithfully. He described the news of the death as devastating and disheartening.

Gbajabiamila expressed his sympathies to the late politician’s family, the residents of his district, and the Taraba government.

He prayed for Maihanci’s soul to rest in peace and asked God to grant his family the strength to deal with the loss.

In a related development, Rep. Muktar Betara, a prominent candidate for the position of Speaker of the 10th House of Representatives, expressed his condolences to the people and government of Taraba over Maihanchi’s passing.

Betara, who represents the Borno federal constituency of Biu/Bayo/Shani/Kwaya Kusar, expressed sorrow over the heinous incident.

He prayed for the soul of the late member-elect, describing him as a brother and friend.

“I learned this morning of the passing of my brother and Member-elect, Hon. Ismaila Yushau Maihanchi, with a heavy heart.

 

I saw him just before I left for Saudi Arabia to perform the smaller Hajj. He was a member of the ‘One Nation, Forward-Together’ front line.

Knowing full well the breadth of his knowledge and his shared vision for a prosperous Nigeria, he said, “The news of his death came as a huge shock to me; he will sorely be missed by all of us.”

The candidate prayed to God for the strength to endure the irreparable loss and for the government of Taraba and the deceased’s family.

The Peoples Democratic Party (PDP) was the candidate the member-elect ran on during the National Assembly election.

Nigerians must not die in the Sudanese conflict, NLC says

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coic
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Nigerians are suffering as a result of the war in the Republic of Sudan, the Nigeria Labour Congress has noted, adding to its concern.

In a press release, he released on Saturday, Comrade Joe Ajaero, the president of the NLC, called for an immediate ceasefire to allow for a peaceful resolution of the issues that sparked the war.

While pointing out that it is the duty of any government to protect people and property, Ajaero questioned why the Federal Government of Nigeria had not yet evacuated trapped Nigerians in Sudan.

“At this point, we are not particularly worried about the history and immediate causes of the war, but we are worried because many Nigerians have unwittingly become victims of the war and are stuck in that country and unable to leave,” he said.

They have cried out for assistance in order to escape the horrors that the war has continued to inflict upon those who are still trapped in Sudan.

“The NLC is concerned that since the conflict began toward the end of last week, reports about the number of fatalities have been horrifying and terrifying, which has left every patriot concerned about the safety of our citizens there, especially our students.

“We think that any government still has a duty to ensure the safety of its citizens, and part of that duty is ensuring that citizens are protected in any way possible in the event of a war in another nation. The security of people’s lives and properties is one of the main justifications for governance.

While we express our sympathies to the people and workers of Sudan and call for an immediate cease-fire to allow for a peaceful resolution of the differences that sparked the war, we are perplexed as to why the federal government of Nigeria finds it difficult to ensure the safety of the lives of our citizens in that country beyond the token effort at protection through an advisory to all Nigerians in that country to either seek refuge in our embassy in Khartoum or st
The NLC President claimed that the government’s justification for not rescuing trapped Nigerians in Sudan was unworthy of note.

The justification that trying to evacuate our nationals through the airport is risky begs the question and is unacceptable, according to Ajaero. Before returning to this apparent helplessness and apparent abandonment of our citizens, who are obviously in great distress and fear for their lives every day, we don’t understand whether other potential options for evacuation of our citizens have been explored.

“It is cliche diplomacy that in such a situation, serious governments will come to an agreement with the warring parties for the removal of their citizens from the theatre of war, which significantly lowers the risk of loss of life and that of the equipment used in such operations.

Can we not establish a safe corridor to neighboring nations to allow for our citizens’ safe passage and evacuation through the various land borders if the airports are not secure as suggested by the government?

To avoid being killed, he did, however, advise the government to use all reasonable efforts to evacuate Nigerians living in Sudan.

“We also recommend that the government negotiate a deal with the international community to establish a safe haven for all foreign nationals in the nation, acting as a safeguard against the war’s whims while a peace effort is made or alternative, safer evacuation methods are developed.

Read also: Building collapse on Banana Island: Sanwo-Olu visits scene, assesses damage

“We are worried that while our government uses its customary excuses and laziness, the lives of our citizens in Sudan, who are already in danger, could suffer losses or harm. We kindly request that the federal government, through the relevant Ministries and Agencies, take immediate action to prevent our citizens from dying or getting hurt there.

“While we wait for prompt and effective action to be taken in order to evacuate our citizens, we would like measures to be put in place to make their lives as comfortable as possible once they arrive, especially for those who own businesses in Sudan and have experienced business losses as a result. Putting in place suitable platforms to meet their needs here before bringing them home would be pointless, he said.

Building collapse on Banana Island: Sanwo-Olu visits scene, assesses damage

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coic
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0

The governor of Lagos State, Babajide Sanwo-Olu, led a delegation on Saturday to First Avenue, Banana Island, Lagos, where a seven-story building under construction collapsed.

Tayo Bamigbose-Martin, the commissioner for information and strategy, Gbenga Omotoso, the general manager of the Lagos State Building Control Agency, LABSCA, and other engineers accompanied Sanwo-Olu on the inspection.

Later, more information

 

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