Politics

679 Bills before House of Reps — Spokesman

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A total of 679 Bills have been presented before the House of Representatives since the inception of the 9th Assembly, says the spokesperson, Rep. Benjamin Kalu (APC-Abia).


Kalu stated this while briefing newsmen at a pre-event briefing on the Green Chamber Magazine on Thursday in Abuja.

The lawmaker said while some of the bills were at different stages in the house, others were before the Committee of the Whole. 

The spokesperson, however, disclosed that 278 motions had been moved.

Speaking on the Green Chamber Magazine, which would launched on Feb. 9, Kalu said: “

These (motions and bills), the magazine will capture, so that, at all times, you will have access to credible information about what is happening in the House.

“We will have pictorials; not just documenting mere stories, but evidence that one can relate to.”

He said that the magazine would also provide information on the activities of the House to Nigerians and present a positive perception of the 9th Assembly.

“The need for us to change the perception from what it is to what it ought to be is the effort we are making with this magazine, where we would reflect that we are not as Nigerians think we are.

“This magazine would be a platform of the participant’s observation, not a non participatory observation, and Nigerians would be able to see into the activities of the house,” he said.

According to him, the information that would be in the magazine would also showcase the integrity of the House.

Kalu added that the magazine would be a rich source of information for reporters covering the activities of the House.

Edited By: Kamal Oropo/Ali Baba-Inuwa

https://nnn.ng/679-bills-before-house-of-reps-spokesman/

Politics

Obaseki’s victory indicates new political era – Oyebode

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An International Law and Jurisprudence scholar, Prof. Akin Oyebode, says the victory of Mr Godwin Obaseki in the just-concluded Edo gubernatorial polls has wiped off god-father politics in Nigeria’s political culture.


Oyebode made the statement while speaking in a telephone interview with the News Agency of Nigeria in Awka on Monday on the outcome of the Edo governorship election.

According to him, the result of the election has opened a new and better era in the polity.

The Independent National Electoral Commission (INEC) declared Obaseki of the PDP winner of the election, held on Sept. 19.

Obaseki polled 307,955 votes to defeat his closest rival, Mr Osagie Ize-Iyamu of the APC, who polled 223,619 votes.

According to Oyebode, the outcome of the election is not unexpected.

“The nation’s political slate has been wiped clean.

“This should wake up the APC from its illusion and slumber and make it not to take things for granted.

“The party should become sensitive to the hopes, aspirations and interests of the suffering masses.”

Oyebode also lauded INEC, the police and other security agencies for their exemplary conduct during the election.

Edited By: Benson Iziama/Silas Nwoha
Source: NAN

 

 

 

 

https://nnn.ng/obasekis-victory-indicates-new-political-era-oyebode/
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CBN

Financial expert advises CBN on interest rates as MPC holds

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As CBN holds its 275th quarterly Monetary Policy Committee (MPC) meeting on Monday, a Financial expert, Mr Okechukwu Unegbe called for reduction of  lending rates by banks to encourage investment.


Unegbe, who is a Past President of Chattered Institute of Bankers of Nigeria (CIBN) made the call in an interview with News Agency of Nigeria in Abuja.

He suggested that the lending rate should be reviewed downwards from its present rate of about 15 per cent to encourage investor borrowings.

He said that such a step would improve job creation, poverty reduction and economic growth.

“The MPC should look at the interest rate issue, particularly lending rates by the banks.

“Deposit rate is almost zero but the lending rate is still high.

“They should consider a downward review of the lending rate so as to encourage borrowing for investment,’’ he said.

Unegbe, a former Managing Director of the defunct Citizens International Bank also urged the CBN to initiate a credit culture in Nigeria as way of further improving the economy.

He said that the bank should work with government to find ways of making resources available to help businesses survive as a result of challenges posed by COVID-19.

CBN should initiate a credit culture in Nigeria so that people can raise small monies for certain expenditure.

“There is also the need to fund the economy by assisting businesses survive economic challenges posed by COVID-19.

“That is what the American government did recently by setting aside two trillion dollars to support businesses.

“Some private schools in Nigeria, for instance, will have to close down if they do not get some form of palliatives from government,’’ he said.

He urged the committee to come out with policies through which the CBN, working with the fiscal sector, could generate employment and reduce poverty.

NAN reports that the MPC is the highest policy making committee of the CBN, which has the responsibility of formulating monetary and credit policy functions.

The 11 member committee comprises the governor of the bank who is the chairman and the four deputy governors of the bank.

Others are two members of the board of directors of the bank, three members appointed by the president, and two members appointed by the governor.

The MPC was inaugurated in 2005.  

Edited Grace Yussuf

https://nnn.ng/financial-expert-advises-cbn-on-interest-rates-as-mpc-holds/
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Economy

NASSI lauds FG on forex ban for food importers

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The National Association of Small Scale Industrialists (NASSI), has lauded the Federal Government’s ban on Foreign Exchange (Forex) allocation for importers of food items saying that the action will help Nigeria attain food sufficiency and boost exportation.


NASSI National President Chief Solomon Vongfa, said this in an interview with the News Agency of Nigeria , on Monday, in Abuja.

President Muhammadu Buhari had directed the Central Bank of Nigeria (CBN) not to implement any plan geared towards providing foreign exchange for importers of food items and fertilisers into the country.

The entrepreneur, while commending the development also urged the government to extend the patriotic stance to other sectors.

NASSI has always taken the position that Nigeria has the naturally endowed capacity to be the bread basket of Africa.

“And this means not only can we achieve self sufficiency in food production but also be a net exporter of both agricultural commodities and processed food products too,” Vongfa said.

According to him, Nigeria is already bleeding enough forex in the energy sector where we import virtually all petroleum products in spite of huge crude oil reserves and production capacity.

This, he said had put constant pressure on the naira value as government struggled to meet forex demand from other sectors, adding that forex demand routinely outstripped supply.

He said the situation had also put pressure on foreign reserves which impacted on Nigeria’s global ratings.

“We at NASSI therefore support government position here but as a footnote NASSI also wants the federal government to extend this patriotic stance to other sectors.

“So that Nigerian entrepreneurs are patronised by the state over and above imports as a matter of enforced state policy.

“An example of what government should not be doing is funding the importation of fully built Toyota Camry vehicles and others for the National Assembly while we have Nigerian car plants ready and willing to meet such orders,” he said.

The NASSI president, however, said such actions tend to demoralise entrepreneurs and dampen their patriotic zeal that it needed to foster or encourage.

https://nnn.ng/nassi-lauds-fg-on-forex-ban-for-food-importers/
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COVID-19

We are not deterred by COVID-19 to mark [email protected] – NUTAG

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The Nigeria Union of Traders Association in Ghana (NUTAG) says it is not deterred by the coronavirus pandemic to mark Nigeria’s 60th independence anniversary.


The President of NUTAG, Mr Chukwuemeka Nnaji, disclosed this in a telephone interview with the News Agency of Nigeria in Abuja on Monday.

Nnaji spoke on the sideline of preparations for Oct. 1 independence celebrations.

According to him, many programmes have been lined-up by Nigerians in Ghana to mark Nigeria’s independence in line with COVID-19 protocols.

“With or without COVID-19, Nigerians and friends of Nigeria in different sectors of Ghana, are ready to celebrate [email protected],’’ Nnaji said.

He listed an award ceremony of 60 most impactful Nigerians in Ghana as one of the events scheduled to hold on Oct. 3 as part of the anniversary.

“We always mark our independence in Ghana every year.

“Sixty years is special to the human race and as Nigerians, we are very unique when it comes to showcasing patriotism.’’

NAN reports that President Muhammadu Buhari on Sept. 16, unveiled the logo and theme for the 60th independence anniversary.

Edited By: Remi Koleoso/Abdulfatah Babatunde
Source: NAN

https://nnn.ng/we-are-not-deterred-by-covid-19-to-mark-email-protected-nutag/
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