Politics Nigerian parliament confirms three monetary policy committee members, CBN deputy governors

Politics Nigerian parliament confirms three monetary policy committee members, CBN deputy governors
2018/03/22 18:28:19 FASHENTGIST'S

The Nigeria’s parliamentary arm has confirmed the nominations to the Central Bank of Nigeria (CBN) Monetary Policy Committee and two deputy governors.
The MPC is a statutory body of the Central Bank of Nigeria in charge of formulating monetary policy for the country. Its decisions cover issues such as interest rate, exchange rate and other matters that affect investment climate of Nigeria.

The lawmaking body confirmed Prof Adeola Adenikinju, Dr Aliyu Sanusi, Dr Robert Asogwa  while Dr Asheikh Maidugu was rejected.

Senator Rafiu Adebayo, Chairman of the Senate Committee on Banking, Insurance and other Financial Institutions, while submitting the report of the screening said Dr Asheikh A. Maidugu failed as 'they were not satisfied with his responses to their questions.'

Aishah Ahmad and Edward Lametek Adamu were also confirmed as deputy governors of the Central Bank of Nigeria

The leader of the parliament, Dr Bukola Saraki thanked the Committee Chairman and its members, saying the exercise will allow the Central Bank to continue to play its role in providing stability in the country.

"I wish the members of the Monetary Policy Committee (MPC) a fruitful and successful tenure."

“The executive might have to expedite action in sending a replacement for the rejected MPC nominee," Saraki said.

He said the parliament will come back next week to revisit the issue of the rejected candidate.

— The Nigerian Senate (@) 2013-07-22 14:22:09.0

— The Nigerian Senate (@) 2013-07-22 14:22:09.0

With this development, the Central Bank of Nigeria can now form a quorum to hold its Monetary Policy Committee meeting the first week in April.

The Second Schedule of the CBN Act (Section 12(5) and 54, stipulates that the MPC shall meet at least four times in a year and that the quorum shall be six members; two of whom shall be the Governor and a Deputy Governor or two Deputy Governors.

Godwin Emefiele, governor of the CBN had in an interview with CNBC Africa on Thursday, March 15, 2018, expressed optimism that the MPC meeting will certainly hold by the first week in April.

Nigerian Musicians Davido And Small Doctor Accused Stealing

Nigerian Musicians Davido And Small Doctor Accused Stealing
2018/03/22

Small Doctor and Davido

Popular Nigerian singer, Davido otherwise known as OBO, alongside Small Doctor, have been accused of song theft.

The manager of King Sunny Ade, Clement Ige has accused the duo of using Sunny Ade’s lyrics without seeking permission.

Ige speaking at Goldberg’s ‘Ariya Repete’ Roundtable discourse in Abeokuta, stated that this generation of artists are proud.

He said; “They use English language to speak Yoruba. Like the young man who sang ‘makole marale.’ How do you build house before buying a land?” he asked.

"Many of them don’t give credit to the original composer of the song they adopt. They just sing it without seeking permission. That’s a copyright infringement. It’s not done in developed societies.

“Till today, Small Doctor didn’t get our permission before and after singing ‘ijó tí m’ojó l’àná, tí wá»�n n’pariwo, oni nká»�, ola nká»�.’ And many of them are guilty of this.

“That Davido that used Sunny’s lyrics in his song didn’t even get it right and that’s because he didn’t ask for permission. If he did, we would have corrected him. What is ‘Kuluso ewe, agbagba ewe?’
“The line is actually ‘Seleru agbo, agbara agbo’. I know because I co-wrote the song!”

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President Buhari meets with Baru over fuel scarcity

President Buhari meets with Baru over fuel scarcity

Author: adedeji olamide

Category: Local news

- President Buhari met with Baru over the issue of fuel scarcity

- The NNPC GMD blamed the scarcity on fuel marketers

- He assured that the problem will be solved in a few days

President Muhammadu Buhari has met with the group managing director of the Nigeria National Petroleum Organisation (NNPC), Dr Maikanti Barul over the lingering fuel scarcity in the country.

The president met with the NNPC boss on Saturday, December 23 in order to find a solution to the issue of fuel scarcity.

Many Nigerians have been complaining about the scarcity with some raising suspicion that it was an attempt to increase price of fuel.

It was reported that the president said he was concerned about the plight of Nigerians

In a video address, Baru blamed the situation on oil marketers whom he accused of hoarding the commodity.

He assured Nigerians that there was no plan to increase price of fuel and that work was going on to end the crises soon.

He said: "I'm reassuring Nigerians that we have over 20 days petrol sufficiency. Queues will be resolved soon, as distribution intensifies. There are challenges with marketers hoarding, that is being dealt with as well.

"In addition to existing supplies on ground, another 3 ships are currently unloading 150 million litres of petrol.NN
PC will push this additional supply out within 3-4 days.

"We are appealing to fuel marketers to desist from hoarding and profiteering. There is enough supply for the country. There are also no plans to increase fuel prices. @NNPCGroup remains committed to ensuring that petrol sells for a maximum of N145 per Litre"

Meanwhile, another African country and a leading oil producer, Angola, is currently suffering from fuel shortage.

According to reports, the situation has been ongoing for one week now, and some Angolans are blaming the situation on opponents of the country’s president, Joao Lourenco.

Fashentgist's.com gathers that long lines have been seen at many filling stations in Luanda, the nation’s capital.

Fuel scarcity: This is getting too much for us - Nigerians lament

Roman Abramovich lines up Ancelotti as replacement if Conte loses to Barcelona

Chelsea owner, Roman Abramovich is reportedly planning on replacing Antonio Conte with Carlo Ancelotti

- The Blues' owner is reportedly waiting to see how the West London side's Champions League campaign against Barcelona will fare

- Ancelotti is currently based in London as he is without a club after being axed at Bayern

Chelsea owner, Roman Abramovich, has already spoken to former manager Carlo Ancelotti about the possibilities of him replacing Antonio Conte before the end of the season at Stamford Bridge , according to reports.

There have lingering rumours of looming loggerhead between Conte and the Chelsea board, having clashed over transfer targets in the summer, while he the Italian has already conceded defeat in this season’s title race.

Roman Abramovich lines up Ancelotti as replacement if Conte loses to Barcelona

The Daily Record report that Conte’s future at the club hinges on their European campaign, with Ancelotti waiting in the wings should they crash out prematurely.

Chelsea lost out on being group leaders of their Champions League group after they were surprisingly beaten to top spot by Roma, and that has landed them an extremely difficult last-16 tie against Spanish leaders Barcelona.

There is already a sense at the club that Conte will not stay beyond the end of this season – having been linked with the AC Milan and Italy jobs – and he could leave even sooner if Chelsea fail to overcome the Catalans.

Ancelotti is already back in London and has had his possessions moved from his home in Munich back to London as he has already spoken with Abramovich about a return to the club where he won the double.

Carlo Ancelotti is currently based in London

He is regarded as the No.1 candidate to replace Conte – though does not want to be considered for the position while his friend is still in the dugout – and is seen as having a less abrasive managerial style.

There is a sense that Ancelotti will be more accepting of Chelsea’s current structure and their transfer policy, with Abramovich convinced that he sacked the Italian prematurely last time around.

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Antonio Conte: David Luiz injury is serious

Antonio Conte is unsure when David Luiz would return from his injury

- Luiz is currently nursing a 'serious' knee injury according to his boss

- The defender last played for the Blues against Qarabag on November 22

Chelsea boss Antonio Conte has described David Luiz's knee injury as a "serious" problem.

The Italian is however hoping his Brazilian defender makes a swift recovery from an injury that has seen him last play for the Blues against Qarabag in the Champions League on November 22.

Conte is hoping that the 30-year-old is able to get over the problem soon, but he conceded that it is by no means a minor issue.

David Luiz is currently injured. Photo: Premier League/Twitter

"David has an inflammation in the knee and we are trying to solve this situation with the doctor," Conte told reporters at a news conference.

"It's important to assess the situation day by day and to try to solve this problem. I don't know when he's able to come back, but for sure we are trying to sort his situation.

"The player is working apart [from the rest of the team] and the last days he was outside and in the pool.

"Today he was swimming and out on the pitch to run a bit, but very slowly. This is a serious problem, but we hope to solve it as soon as possible."

Conte cannot expect to see his defender play in 2017 again. Photo: Metro

Conte offered some words of sympathy to the player explaining he was always freustrated whenever he was injured during his professional playing days.

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"I think every player is frustrated when they don't play, especially when injured. For sure, there's a lot of frustration for the injury and because every player wants to try to put difficulty into the coach's choices.

"I understand, I was a player and when I was injured I was very sad because you want to feel well and be ready for the competition and training. But injuries are part of the job."

Conte is not expecting to have any other selection issues, however, with everyone else at his disposal, including Alvaro Morata after his recovery from a back problem.

The Blues welcome Stamford Bridge on Saturday, December 16 in their next Premier League game.

Olamide, Small Doctor, Humblesmith and other veteran musicians set to usher in the New Year with top-class performances

Olamide, Small Doctor, Humblesmith and other veteran musicians set to usher in the New Year with top-class performances

Author: Adedeji

Category:Local news

Popular Nigerian musicians Olamide Small Doctor, Humblesmith, Pasuma, Salawa Abeni, Ras Kimono, Saheed Osupa and Pasuma are set to usher in the New Year with top notch performances.

Lagos has announced a talent hunt as the state begins an eight-day fiesta that would usher residents into the new year of 2018.

Officials of the state including information commissioner Steve Ayorinde and Aramide Giwanson, the special adviser on tourism, arts and culture, confirmed this at a press conference on Friday, December 15, 2017

Giwanson said the winner of the talent hunt will get N150,000 and a possible placement with a record label if he is a singer. The special adviser said the first runner up would get N100,000 while the second runner up would get N50,000.

"The audition for this programme starts from Tuesday, December 19 to Thursday, December 21, 2017 in all the five divisions of the state. The two finalists that will emerge from each division will compete during the One Lagos Fiesta."

She added that talents would be hunted in areas like music, comedy, dance and creative exploits. "If anyone is talented in any of these areas and looking for a platform to showcase his/her skills and begin a rewarding journey to stardom, then One Lagos Fiesta is the platforms such individuals need."

Also, over 100 artistes cutting across all genres are expected to perform at the eight-day event. Accordingly, some of the artistes expected to perform include Olamide, Sunny Ade, Humble Smith, Small Doctor, Adewale Ayuba, Salawa Abeni, Ras Kimono, Osupa and Pasuma.

According to Giwanson, the main goal of the event is to turn the divisions into tourist destinations with 40 concerts altogether across the locations. Apart from this, the event is an opportunity to boost local economy and help local vendors and investors sell their products

She also added that this year's event would accommodate children with games. The government also assured of adequate security throughout the event.

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Paris Club: Workers' December salaries threatened as FG, states in court

Paris Club: Workers' December salaries threatened as FG, states in court

Author: Adedeji ola

Category: Local news

- Workers may not receive their December salaries

- This is as a result of the ongoing court case involving the federal government, 36 state governors and the consultant that handled the disbursement of the Paris Club Refund

- The said consultant had taken the duo to court for non-payment of the 5 per cent consultancy fees due to him

Hope for state workers to receive payment of their December salaries as well as backlog of arrears is on the brink of being dashed as the federal government and 36 state governors have been dragged to court by the consultant that handled the disbursement of the Paris Club Refund.

A source highly placed in the Presidency told our correspondent that the said consultant had taken the duo to court for non-payment of the 5 per cent consultancy fees due to him.

According to the source, the suit may stall further withdrawals from the account; an account which most state governors had banked on to pay workers’ salary before the Christmas celebration.

The source said that the case had been filed at the Federal High Court Abuja.

The person explained that before this new court case, efforts were in top gear to release the balance of the Paris Club refunds to states to pay workers salaries all over the country before Christmas.

“The payment of the Paris Club refunds were at the final stages to be paid to enable the workers enjoy the Christmas and New Year festive seasons,” the person said.

In a releated development, the earlier scheduled Federation Account Allocation Committee (FAAC) meeting was put off till Saturday because stakeholders had not received the component statement from NNPC.

One of the state Commissioners of Finance, who pleaded anonymity, told NAN that for the second time, the NNPC is late in remitting funds into the Federation Account.

“NNPC is the major cause of all these things, they have not brought in money just like last month.

“Last month, the state governors insisted that they (NNPC) must bring in money before they later brought out N30 billion from Excess Crude Account (ECA) before the last FAAC could hold.

”Again this month, the CBN and Revenue Mobilization Allocation and Fiscal Commission (RMAFC) said there was no component statement available from NNPC, they have not received component statement from NNPC.

”This indicates that NNPC had not paid money into the Federation Account. Without that money we have to wait till tomorrow for FAAC meeting to hold.

“If the component statement is sent from NNPC it will take about six hours before the stakeholders can go through it” the commissioner said.

President Muhammadu Buhari last month had urged all state governors to utilise the balance of 50 per cent Paris Club refund to settle unpaid salaries owed workers before Christmas

To remove any hitches he had directed the CBN, ministry of Finance, and the Budget Office of the Federation to work out how the outstanding fund would be paid before 2017 ends.

The payment began in December 2016, with the release of about N522.74 billion to all 36 states in the first tranche of the Paris Club refund.

The federal government later in July 2017, released the sum of N243.8 billion as second tranche in the repayment of Paris club refund.

The funds were released following protests by states against over deductions for external debt service between 1995 and 2002.

Meanwhile, fashentgist's had reported that the Federal High Court in Abuja has ordered that seven accounts linked to the Nigerian Governors' Forum be frozen.

The accounts the Economic and Financial Crimes Commission alleged were used by the forum to launder funds to the tune of N10 billion from proceeds of the Paris Club Refund.

In his ruling on Wednesday, November 29, Justice Gabriel Kolawole said the freezing of the seven accounts would last for 45 days.

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Aisha Buhari urges northern women to further their education

Aisha Buhari says it was after she got married that she furthered her education

- The wife of the president urges women and girls not to relent in their effort to further their education

Aisha Buhari has urged women and girls to further their education so that they could avail themselves of opportunities that may arise in the future.

The wife of the president gave the advice on Thursday, December 14, at the closing ceremony of the Skills Acquisition and Empowerment Training Programme initiated and sponsored by her pet project, Future Assured, The Punch reports.

She stated that it was after she got married that she furthered her education.

Aisha said: "When I got married, I had only the secondary school qualification. I didn’t know that my husband would become president, but I continued with my education and this is where God has brought me to today.

“Education has become a compulsory thing that we must acquire. We must understand English Language and speak it, so that when any intervention comes, we will benefit from it.

“People should continue to go to school, even if you will not work in an office; but, go, so that when opportunities come up tomorrow, you will not be left out.

“Nobody should relent or give up going to school. We should keep reading and schooling for the benefit of the society.”

Similarly, the wife of Bauchi state governor, Hadiza Abubakar said the empowerment programme would better the lives of the beneficiaries.

 had earlier reported that Aisha Buhari arrived Bauchi on Thursday, December 14, for the graduation ceremony of over 800 students who participated in her Skills Acquisition Programme, NAN reports.

Aisha Buhari urges northern women to further their education

Aisha Buhari says it was after she got married that she furthered her education

- The wife of the president urges women and girls not to relent in their effort to further their education

Aisha Buhari has urged women and girls to further their education so that they could avail themselves of opportunities that may arise in the future.

The wife of the president gave the advice on Thursday, December 14, at the closing ceremony of the Skills Acquisition and Empowerment Training Programme initiated and sponsored by her pet project, Future Assured, The Punch reports.

READ ALSO: Wike, Ibori, Okowa, Tambuwal hold secret meeting in Asaba

She stated that it was after she got married that she furthered her education.

Aisha said: "When I got married, I had only the secondary school qualification. I didn’t know that my husband would become president, but I continued with my education and this is where God has brought me to today.

“Education has become a compulsory thing that we must acquire. We must understand English Language and speak it, so that when any intervention comes, we will benefit from it.

“People should continue to go to school, even if you will not work in an office; but, go, so that when opportunities come up tomorrow, you will not be left out.

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“Nobody should relent or give up going to school. We should keep reading and schooling for the benefit of the society.”

Similarly, the wife of Bauchi state governor, Hadiza Abubakar said the empowerment programme would better the lives of the beneficiaries.

NAIJ.com had earlier reported that Aisha Buhari arrived Bauchi on Thursday, December 14, for the graduation ceremony of over 800 students who participated in her Skills Acquisition Programme, NAN reports.

NAIJ.com gathered that the programme is sponsored by Aisha Buhari’s NGO, the Future Assured initiatives, for women and youths in the state.

Can a woman ever become Nigeria's president? on NAIJ.com TV