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Banks not authorised to accept old 500,1000 Naira notes – CBN

The Central Bank of Nigeria says it did not authorise Deposit Money Banks to accept old N500, N1000 notes.

 

 

The Bank in a statement signed by the Director Corporate Communications, Osita Nwanisobi said only the old  N200 note is a legal tender till April 10, 2023.
The statement reads: “The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorised messages quoting the CBN as having authorised the Deposit Money Banks to collect the old N500 and N1,000 Banknotes.
“For the avoidance of doubt, and in line with Mr. President’s broadcast of February 16, 2023, the CBN has been directed to ONLY reissue and recirculate the old N200 banknotes and this is expected to circulate as legal tender for 60 days up to April 10, 2023.”

 

The apex bank urged Media practitioners to “verify any information from the correct sources before publication”.
CBN Press statement

Cuisines: Nigeria partners with Saudi Arabia to promote healthy living

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Nigeria has partnered with Saudi Arabia to promote healthy living through the establishment of Eat Rite Restaurants across the country

Speaking at the grand opening of one of the restaurants in Abuja, the Chairman of Eatrite Food Services West Africa, Mr Isa Inuwa explained that the combined effort would create wealth and empower Nigerians thereby reducing the unemployment rate in the country.

He said that Nigeria was getting investments, expertise, and training from the Kingdom of Saudi Arabia and hopes to strengthen business and diplomatic relationships through cuisines.

“When you have two countries cooperating, investing in each other, selling goods or services one way or two ways, what you are actually doing is you are enhancing their diplomatic connections as it were and bringing the people together. And of course exchanging culture. Part of the food that we will be selling here are of Saudi origin. That is the foundation. That’s why I said we are enhancing diplomatic relations between Nigeria and the kingdom of Saudi Arabic. We are bringing economic interests together, we are bringing people together and we are exchanging cultures, Mr Inuwa said.

He also said that customers are to get value in a clean and conducive environment noting that Eat Rite West Africa has plans to open additional fifty restaurants across Nigeria in no distant time.

“Don’t just look at the number of the restaurants, look at what would happen if you open one restaurant, think also about the associated benefits and associated activities that will come into being just because you opened a single restaurant”. He said.

He encouraged Nigerians to help propagate the eat-right lifestyle.

The Franchise Director of Herfy – Saudi Arabia’s biggest restaurant chain, Mr Muhammed Ali San, said that Nigeria has the population to make any business succeed.

He said that with the successful opening of the Abuja restaurant, in the next two years, more businesses would be opened in Nigeria.

“We are doing business through franchise and we are keeping the high quality of products. Nigeria is one of the largest countries and your population is more than two hundred million. So, definitely this country needs more concepts and more brands to come in. So, this is a good opportunity for us to be here before the other international brands come”. He said.

The grand opening had the Saudi Arabia Ambassador to Nigeria, Ambassador Zubairu Dada, diplomats and top Nigeria officials in attendance.

 

PIAK

 

 

 

Nigeria, Saudi Arabia partner to establish indigenous eateries

Two business conglomerates from Nigeria and Saudi Arabia have formed a partnership to establish indigenous eateries in order to enhance cultural exchange and diplomatic ties.
The Chairman, Eatrite Food Services West Africa, Mr. Isa Inuwa said Nigeria hopes to strengthen business and diplomatic relationship with Saudi Arabia through the establishment of Eat Rite Restaurants across Nigeria.
Speaking at the grand opening of one of the restaurants in Abuja, the chairman said that the combined effort will create wealth and empower Nigerians.
He said that Nigeria was getting investments, expertise, and training from the Kingdom of Saudi Arabia.
“When you have two countries cooperating, investing in each other, selling goods or services one way or two ways, what you are actually doing is you are enhancing their diplomatic connections as it were and bringing the people together. And of course exchanging culture. Part of the food that we will be selling here are of Saudi origin. That is the foundation. We are bringing economic interests together, we are bringing people together and we are exchanging cultures,” Mr. Inuwa said.
He also said that customers are to get value in a clean and conducive environment.
He also noted that Eat Rite West Africa has plans to open additional 50 restaurants across Nigeria in no distant time.
“Don’t just look at the number of the restaurants, look at what would happen if you open one restaurant, think also about the associated benefits and associated activities that will come into being just because you opened a single restaurant,” he said.
The Franchise Director of Herfy – Saudi Arabia’s biggest restaurant chain, Mr. Muhammed Ali San, said that Nigeria has the potential, especially with it’s population, to make any business to succeed.

Nigeria to host Secretariat of Sahel Climate Fund

President Muhammadu Buhari says Nigeria is ready to host the Secretariat of the Sahel Climate Fund, including equipping and provision of accommodation to the top management staff of the fund.

The “Sahel Climate Fund” is the financial body of the Sahel Region Climate Commission (SRCC).

The body is one of the three climate Commissions for Africa created in Marrakech, Morocco in 2016 at the Summit of African Heads of State and Government, organised at the initiative of the King of Morocco, on the sidelines of the 22nd Conference of the Parties (COP22) to the UN Framework Convention on Climate Change.

Speaking on Friday at the 2nd Heads of State and Government of SRCC during the 36th AU Summit in Addis Ababa, the President said as an active member of the Commission, Nigeria will support the operationalization of the secretariat toward effective implementation of climate change activities in the region.

He expressed concern that the availability and access to funds for the implementation of climate change activities, especially adaptation, remain major problems for the African region.

President Buhari, therefore, described the Sahel Climate Fund as an additional financial resource which is adequate and predictable for the implementation of the requirements of the Climate Change Convention and the Paris Agreement.

According to the Nigerian leader, the Fund will, among others, serve as a gateway to climate finance and investment strategy, finance the implementation of National Determined Contributions (NDCs) of member states and ensure effective participation of the Sahel Region in the global effort to curb greenhouse gas (GHG) emissions.

The Fund is also expected to mobilize required resources from member states, bilateral and multilateral partners, and private financial institutions.

‘‘Understanding the barriers to accelerated climate finance inflows and our climate related sectors, are perceived to be high risk investment destinations due to multilayered operational risks, the Sahel Climate Fund will serve as a gateway to climate finance and investment strategy that considers innovative and practical ways to overcome multiple risk impediments and sustainable financial support to Sahelian Countries. 

‘‘In addition, the Sahel Climate Fund will be the necessary Climate Finance Mechanism that will be instrumental in financing the implementation of the NDCs of member states, contribute to strengthening the adaptation and resilience capacities of local communities along with their livelihoods, and ensure effective participation of the Sahel Region in the global effort to curb GHG emissions.

‘‘The Sahel Climate Fund will mobilize the necessary resources from member states, bilateral and multilateral partners, and private financial institutions to foster cooperation and coordinated actions among Sahel Region Climate Commission member countries to address climate change.”

He underscored the need for urgent and extensive action as well as broad international participation required to tackle climate change in Africa.

In his text circulated at the Summit, King Mohammed VI of Morocco warned that by 2030 no fewer than 118 million people in Africa will be directly threatened by extreme weather events.

Pledging support for the Commission, the Moroccan leader said his country has honoured its commitments made at the maiden conference by providing the Commission with ‘‘Capacity building, technical assistance and financial support for the preparation of feasibility studies to finalise its Climate Investment Plan.’’

The Sahel geo-climatic region comprises 17 countries stretching from the Atlantic to the Red Sea, including Nigeria, Benin, Burkina Faso, Cameroon, Cape Verde, Côte d’Ivoire, The Gambia, Guinea Conakry, Djibouti, Ethiopia, Eritrea, Mali, Mauritania, Niger, Senegal, Sudan and Chad.

 

PIAK

 

 

 

 

Association trains Journalists in Anambra State

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The Association of Digital Media Core Advocates (ADMCA), has organised a one-day media summit for journalists in Anambra State.

The event which took place at Awka, Anambra state capital, had its theme; Role of Media in Countering Political Intolerance, Electoral Violence and Fake News.

According to the President of the Association, Harris Chuma, the training is coming during a transition period in Nigeria as the general election is around the corner.

“Typically elections of this nature, so many issues bothering on Intolerance, propaganda, fake news, thuggery as well as outright violence. This is why as media people there is need for us to play crucial role of informing the masses about the dangers of these ugly tendencies.

We must be adequately prepared in order to give the public what they need and desire. It is our belief that this interaction would sharpen all of us, in preparation of the task ahead, he added.

On the rise of fake news, a participant lamented that fake news has caused a lot of harm than good in the country.

Fake news breeds Intolerance and violence so, journalists should be mindful of the type of news they dish out to the public. As a journalist you must be factual and make sure your reports are clear and concise in relaying the information.”

The Vice President, the Nigerian Union of Journalists, Southeast Council, Comrade Emma Ifesinachi, urged journalists to be credible in their reportage.

 

PIAK

 

 

 

 

Naira Redesign: Kwara Business Community Loses N30m Daily

The Kwara State Coalition of Business and Professional Association (KWACOBPA) says  that members of the association lose at least N30 million daily due to cashless and Naira redesign policies of the federal government.
Speaking with journalists in Ilorin, chairman of KWACOBPA, which comprises of over 21 professional and business associations, Alhaji Olalekan Fatai Ayodimeji, said that businesses today, in Nigeria, are endangered.
He lamented that the large and medium companies are in dire need of foreign exchange (forex) for their raw materials and machinery and now the nano, micro and small enterprises are struggling to get the local currency for their business operations.
“A tough situation indeed. The reasons adduced by the CBN for the naira redesign are understandable but implementing same alongside the cashless policy is worrisome”, he said.
The KWACOBPA chairman, who bemoaned the effects of the cashless and Naira redesign policies on the state economy said that nano, micro and small enterprises lose at least N30 million per day in Kwara state and about $18million being lost in the country in general.
“Go and see those selling onions or tomatoes, for instance. They bring these goods from the north, hired vehicles and all that. On getting here because there’s no cash and he had to go back to his base after three or four days to replenish and take stock, he is now being forced to sell those goods at very ridiculously low prices” he said.
According to him, same thing is being experienced by architects, building engineers and contractors as labourers who had to be paid in cash where there’s no cash would jeopardize the contracts.
The president of the pharmaceutical society of Nigeria has also said that the policies could affect fall in life expectancy among the people.
“And someone would come out to say one of the effects of currency swap is drop in inflation. That’s what I call silence of the grave. That’s not drop in inflation. What will come after it will be more than that. We call on the federal government to make the old and new Naira notes to be spent concurrently together if they know they don’t have enough to go round the people”, he said.
The association which, however, believed that efforts were being made to ameliorate the unpleasant situation, called on the CBN to double its efforts at providing and ensuring widespread circulation of the new redesigned naira notes and that the apex bank  should also support other alternative financial payment solutions.
The KWACOBPA chairman stated further that subsidy on fuel (PMS) should be removed, saying, “the subsidy amount would be better used to provide infrastructure that will add value to the nation’s economy and lessen her challenges.
The association appealed to their members and indeed all Nigerians to be calm and continue to be resilient as this ‘hard time’ shall soon pass.
KWACOBPA also noted and commended the decision of the Kwara State Government to extend palliatives to small businesses and students in the State in the form of cash grants and free bus ride to alleviate the current difficulty the situation has caused for them.

Census: Minister charges Journalists on accurate reportage

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The Minister of the Federal Capital Territory Administration, FCTA, Mohammed Bello has charged Journalists on accurate data reportage of the 2023 Population and Housing Census

The Minister gave the charge during a workshop themed: “Getting The People Involved, which was organized for media professionals on effective reportage of the Census by the National Population Commission in Abuja Nigeria’s capital with the

Represented by the Director, Information and Communication of the FCTA, Mr Mohammed Hazat explained that the Administration is; “Working closely with traditional institutions and local authorities in the Territory to fully sensitize the residents especially those in rural communities on the importance of availing themselves and their households for the enumerators to be counted during the exercise.

While urging the participants to pay attention and make judicious use of their time, the Minister explained that the workshop would improve their capacity and skills to enable them effectively and efficiently reports events, activities geared towards a successful national census.

According to him, “Without accurate data of the population and housing demographic in a country, the nation will not be able fully to develop because you would have nothing to rely on when planning for the socio-economic and educational development of the country.

Bello who stated that the 2023 National Population and Housing Census is critical for the advancement of Nigeria, added; “It is, therefore, very important that adequate attention be paid to its conduct in order to ensure its success.

The Federal Commissioner in charge of FCT, National Population Commission, Mr Joseph Kwali stated that preparations are in top gear for the successful conduct of the census exercise adding that it is the responsibility of every citizen to participate by presenting themselves to be counted.

He called for the support of stakeholders to deliver to the country credible and reliable data it can use for sustainable development and planning.

“Over the years, the Commission has invested considerable time and resources planning for the census by drawing from its rich institutional experience spanning two censuses and a pool of tested professionals to give the nation a truly digital and scientific census that will generate data for national planning within the context of our present realities.

I am pleased to inform you all that the outcome of the preparatory activities of the 2023 Population and Housing census has been reassuring. The Commission has successfully demarcated 774 LGAs in all the States of the federation and the FCT”.

The Federal Commissioner also stated that the Commission conducted the first and the second census pre-test exercises in preparation for the census and added that the trial census was conducted in June 2022.

He further said that the Commission is on course in its mission of delivering an accurate census to Nigerians and strategic partnership with the media would ensure that citizens are well informed.

Kwali reassured the participants that the Commission would continue to engage them on all activities of the Commission especially, towards the successful conduct of the 2023 Population and Housing Census.

He reiterated that getting the 2023 Population and Housing Census right is a task that must be done and the Commission is committed to ensuring that everything about the census is done professionally.

 

PIAK

 

 

 

 

Adamawa State pays last respect to the Late Dan Suleiman

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The Adamawa State Government has paid last respect to Nigeria’s elder Statesman, the late Air Commodore Dan Suleiman as his body was laid to rest in his home town of Guyuk Local Government Area

Adamawa Governor, Ahmadu Fintiri during the burial described Suleiman’s death as a great loss to the nation.

“The news of his death is disheartening to his relatives, friends and colleagues in more ways than one. But little can be done at the moment, other than mourn a life well lived, a life of impact, and a name familiar to many who thrived under his tutelage both in the Military and the fight for democracy in Nigeria.

“It is with deep sense of great loss but total submission to the will of God that I note the demise of one of Adamawa’s great leader. 

He was indeed a respected Politician, who was always mindful of his integrity and used his Military background and discipline to engineer positive changes in the behaviour and character of his Children and those close to him.”

The Governor noted that the late Military tactician would be sorely missed as he always put his deep knowledge and understanding of issues at the disposal of those who followed him.

He emphasized that the Air Commodore Suleiman stood for justice and the well-being of his people and that the gap he has left at this critical period of Nigeria’s political history when his services are needed most is painful.

Governor Fintiri recalled that the late Suleiman drew attention to the various societal ills and suggested corrective steps which brought calming words during the period of turmoil.

“Dan Suleiman was an honest man, who stood for the truth in his entire life, the state had taken solace in the fact that he dedicated his life to serve God and humanity.

“At this period of mourning, I on behalf of the the people and government of Adamawa State urge the traditional ruler of Guyuk, HRM Kuruhaye Dishon Dansanda 11, the family and the entire Lunguda chiefdom to take solace in the fact that he led a good life, an unbiased man who stood for the truth all his entire life.

The late Air Commodore Dan Suleiman who died at 80, was a member of General Murtala Muhammed’s Supreme Military Council, military governor of Plateau State, Chairman of the Middle Belt Forum, a Federal Commissioner for Special Duties and he was instrumental in founding the ECOWAS.

He was also Chairman of Allied Bank of Nigeria Plc, one of the founders of NADECCO, leader of the People’s Democratic Party in Adamawa State as well as former Ambassador to Russia.

Enugu State: Community Pledges Support for APGA Gubernatorial Candidate 

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The Aku Community in Igboetiti local government area of Enugu state, South-east Nigeria, has pledged support for the All Progressives Grand Alliance (APGA) governorship candidate, Mr. Frank Nweke II, in the forthcoming elections.

The community members took this stance on Thursday when they received the APGA gubernatorial candidate and his deputy, Dr. Edith Ugwuanyi.

In demonstration of their acceptance of the APGA candidates, Nweke was presented with a handcrafted wooden chair created by a young local sculptor, Mr. Obinna Odenigbo.

Speaking at the occasion, the APGA House of Assembly candidate for Igbo-Etiti West Constituency, Mr.  Chidi Attah, hailed the community for its unwavering loyalty.

Attah said that the goal of APGA candidates in the state was to work aggressively towards improving the standard of living of the people.

Attah assured his constituents of his commitment to ensuring optimal representation in the State House of Assembly, if elected.

‘Today I can count 230 people that I have helped to secure jobs. I currently have 11 undergraduates under my scholarship.

‘I have 57 students in this community who have been able to procure their JAMB forms with my help. These were done as a private citizen because I have your interest at heart.

‘You can expect more once I am elected your representative in the State House,’ he assured.

Going further, the House of Assembly candidate revealed that he had discussed the issues of non-payment of teachers and pensioners with the APGA governorship candidate, who promised to make their welfare a priority for urgent attention once sworn in as the governor.

Attah also assured them of regular power supply and the rehabilitation of their roads.

He reaffirmed his confidence in Nweke, the APGA governorship aspirant, and asked the people to trust him with their votes.

In his remarks, Nweke praised Attah for his attention to the needs of the people and his genuine desire to improve their lives.

He noted that the turnout of the people was a testimony to their love for him.

Nweke urged the community to vote for good leaders like them who would put their interests ahead of pecuniary interests.

‘What Attah has started in the communities he serves will become the norm once we get into office. Our desire is to ensure your security, good water, power supply, good road infrastructure and to provide you with job opportunities to improve your economic power,’ he said.

 

 

NAN/ Amaka E. Nliam

Expert call on farmers on right application of agrochemicals

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An agriculture expert, Ms Ifeoluwa Oyeyemi, has charged local farmers on the right application of agrochemicals to prevent negative effects on the produce and soil.

The Chief Executive Officer of Farm Help Agro Stores, Ms Ifeoluwa Oyeyemi, said in an interview on Friday in Lagos, that farmers should read labels on agrochemicals they purchase carefully before application.

“We urge farmers before applying any additives or chemicals to their crops during cultivation to carefully read the labels.

“When they purchase agrochemicals, they must read to understand the major components of what they are buying.

“They must know the active ingredient it contains and how it affects crop health before application to avoid chemical residue in the produce.

“They must learn how to apply these agrochemicals, farmers must know the measurement for each plant so as to reduce the residual effect on the crop and the soil.

“The time of withdrawal must also be specified, it’s written on the label of every agrochemical.

“There is a Pre-Harvest Interval (PHI) for every crop, this provides the time the crops are suitable for harvest post agrochemical application.

“That is why it is important that farmers carefully go through these labels, that is why it is written in simple English and interpreted in various local languages,” the expert said.

Oyeyemi noted that over dosage of agrochemicals on crops have negative resultant effects hence the need to adhere to the description on the label.

“It is unfortunate that most local farmers are so lazy to read the labels on the agrochemicals but it is important they go through it to avoid negative effects on the crops, soil and consumption.”

According to her, most farmers waste energy and income spraying the wrong agrochemicals which in the long run amount to losses because they lack an understanding on it works.

In spraying pesticides farmers should spray moderately because you cannot rid the plants of the pest at once.

Most time they spray above the specified quantity because they want quick results without considering the residual effects of the agrochemicals.

Oyeyemi added that, over spraying results in over dosage, when agrochemicals are sprayed moderately, they will not have any negative effects on the crops or the environment.

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