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Buhari FG Working Round the Clock to Revive Economy

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Buhari FG

Buhari FG Working Round the Clock to Revive Economy

President Muhammadu Buhari has said the federal government is working round the clock to revive the economy, explaining that the economic recession in the country is the result of the cumulative effects of worldwide economic downturn and failure in the past to plan and save for difficult times.

“I assure you that this administration is working round the clock to remove the hardships the country is going through,” he said in a short message to Muslim faithful celebrating the Eid-el-Kabir festival yesterday, pleading with Nigerians that the current economic hardships could not be properly understood without an appreciation of the mistakes.

“The present recession is as a result of cumulative effects of worldwide economic downturn and failure in the past to plan and save for difficult times,” he explained.

The president’s explanation was complemented by the Speaker of the House of Representatives, Hon Yakubu Dogara, and the ruling All Progressives Congress (APC) who called on Nigerians to take advantage of the festivities to pray for the quick recovery of the economy and peace in the country.

But the opposition Peoples Democratic Party (PDP) in its message to the nation’s Muslims told the Buhari administration to stop looking for scapegoats for its inability to run the economy and get down to the task of retrieving the economy from the recess it had pushed it.

“The president and his APC were elected to further better the lots of Nigerians, and not to dish out constant complaints on the situation which they mindlessly created not minding the attendant consequences of their actions on our collective destinies,” the PDP said in a direct reference to the president’s message, adding: “It is, therefore, high time they stopped this unnecessary grumbling and concentrate on how to redeem our economy by providing good governance to the people.”

Saluting Nigerians for their steadfastness in the face of the prevailing harrowing times, the president said that his administration was working hard to shorten the period of the recession and restore prosperity quickly.

Reeling out his plans, Buhari said: “Rail and road constructions, projects in the housing sector, support for farmers and for small and medium scale industries, youth and women’s empowerment programmes, support for revival of industries are all designed to reinvigorate the economy and enhance living standards of ordinary people.”

He said just as he was getting security right and fighting corruption with a reasonable measure of success, he would get the economy right.

The president preached religious harmony, enjoining Muslims to live by the dictates of Islam, keep good relationships with their Christian brothers and sisters and as patriots to maintain the spirit of the Nigerian nation.

Dogara, APC Call for Prayers

Speaker Dogara and his deputy, Yussuff Lasun, while felicitating with the Muslim faithful called for prayers in the face of the economic hardships that Nigerians were going through, telling them to ask Allah for peace and prosperity for Nigeria.

Dogara, in his message, urged Muslims to imbibe the spirit of sacrifice, peace and unity.

He also called for the peaceful co-existence among Nigerians, and prayers for the current economic and security challenges in the country, which he said were not insurmountable.

“As we celebrate Eid-el-Kabir with our friends and families, we must never forget our country and its leadership in our prayers. Eid-el-Kabir celebration is a period of sacrifice and reflection. I urge us all to emulate the virtues of total obedience, sacrifice in faith and selfless service as demonstrated and exemplified by Prophet Ibrahim,” Dogara said.

He expressed confidence that the current administration through its diversification drive would restore Nigeria to the path of development and prosperity.

Dogara also assured Nigerians of the House of Representatives’ determination to continue to work selflessly and tirelessly for the common good and the overall interest of the country through effective, efficient and robust law making, oversight and representation.

Lasun appealed for perseverance among Nigerians especially due to the economic recession, urging Muslims to emulate the Prophet by extending good hands of fellowship to friends and neighbours.

The ruling APC in its message pleaded with Muslims across the country to pray for peace and quick recovery of the economy.

In a statement issued by the National Chairman, Chief John Odigie-Oyegun yesterday, the party urged Muslims and all Nigerians to use the occasion of Eid-el-Kabir to show love and promote harmonious and peaceful co-existence with one another irrespective of ethnic or religious affiliations.

“Nigeria is today passing through challenging times in its socio-economic life, the party calls on Nigerians to pray and support the administration as it works assiduously to pull the country out of the present hardships and restore the country to the path of growth in all facets,” it said, adding: “Happily, the President Muhammadu Buhari-led APC administration is already employing all legitimate and innovative means to restore the country’s battered economy back to good health in the quickest possible time.”

The party urged Nigerians to support the recently launched National Re-orientation Campaign “Change Begins With Me’’.

“In a bold move to repair our value system that has been badly eroded over the years, on September 8, 2016, President Muhammadu Buhari launched the laudable National Re-orientation Campaign ‘Change Begins With Me’. The party appeals to all Nigerians to be part of this campaign which will institutionalise the best practice and time-honoured values of honesty, hard work, patriotism, abhorrence of corruption, accountability and integrity in our everyday life,” it said.

PDP Tells Government to Stop Grumbling

However, the opposition PDP led by Senator Ahmed Mohammed Makarfi told the APC-led administration to focus on how to get the economy working rather than seeking for a scapegoat.

The party, in a message, said it joined other well-meaning Nigerians to felicitate with Muslims worldwide on the occasion of Eid-El-Kabir, the ‘Festival of Sacrifice’.

The message signed by the party’s National Publicity Secretary, Prince Dayo Adeyeye, advised all Nigerians especially, the political and ruling class in the country to emulate Prophet Ibrahim for his willingness and total obedience to the will of God by agreeing to sacrifice his only son.

It called for good governance and peaceful co-existence, urging Nigerians to sacrifice for the greater good of the country.

The PDP said: “We want to use this opportunity once again to celebrate and felicitate with all our Muslim brothers and sisters in Nigeria and across the world on this occasion of Eid-El-Kabir as instituted by Allah through Prophet Ibrahim. We want to also urge Nigerians to use this period and pray for the recovery of our ailing economy, the unity and oneness of this country and continue making sacrifices for Nigeria to become great again.”

“Mr. President in his Salah Message today, again blamed the present Acute Economic Recession on the past administration and global economic downturn. Let Mr. President and his Party, the APC, be reminded that it took a smart and experienced world-class Economic Team in the Year 2010 to lead Nigerians through a cushioned global financial meltdown and beyond. The “Change” is really with them (APC) and their barrage of falsehood.”

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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EFCC Declares Former Kogi Governor, Yahaya Bello, Wanted Over N80.2 Billion Money Laundering Allegations

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Yahaya Bello

The Economic and Financial Crimes Commission (EFCC) has escalated its pursuit of justice by declaring former Kogi State Governor, Yahaya Bello, wanted over alleged money laundering amounting to N80.2 billion.

In a first-of-its-kind action, the EFCC announced Bello’s wanted status in connection with the alleged embezzlement of funds during his tenure as governor.

The commission, armed with a 19-count criminal charge, accused Bello and his cohorts of conspiring to launder the hefty sum, which was purportedly diverted from state coffers for personal gain.

The declaration of Bello as a wanted fugitive came after a series of failed attempts by the EFCC to effect his arrest.

Despite an ex-parte order from Justice Emeka Nwite of the Federal High Court, Abuja, mandating the EFCC to apprehend and produce Bello in court for arraignment, the former governor managed to evade capture with the reported assistance of his successor, Governor Usman Ododo.

This latest development shows the challenges faced by law enforcement agencies in holding powerful individuals accountable for their actions.

However, it also demonstrates the unwavering commitment of the EFCC to uphold the rule of law and ensure that justice is served, irrespective of the status or influence of the accused.

In response to the EFCC’s declaration, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, issued a stern warning to Bello, stating that fleeing from the law would not resolve the allegations against him.

Fagbemi urged Bello to honor the EFCC’s invitation and cooperate with the investigation process, saying it is important to uphold the rule of law and respect the authority of law enforcement agencies.

The EFCC’s pursuit of Bello underscores the agency’s mandate to combat corruption and financial crimes, sending a strong message that individuals implicated in corrupt practices will be held accountable for their actions.

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Concerns Mount Over Security as National Identity Card Issuance Shifts to Banks

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NIMC enrolment

Amidst the National Identity Management Commission’s (NIMC) recent announcement that the issuance of the proposed new national identity card will be facilitated through applicants’ respective banks, concerns are escalating regarding the security implications of involving financial institutions in the distribution process.

The federal government, in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), introduced a new identity card with payment functionality, aimed at streamlining access to social and financial services.

However, the decision to utilize banks as distribution channels has sparked apprehension among industry stakeholders.

Mr. Kayode Adegoke, Head of Corporate Communications at NIMC, clarified that applicants would request the card by providing their National Identification Number (NIN) through various channels, including online portals, NIMC offices, or their respective banks.

Adegoke emphasized that the new National ID Card would serve as a single, multipurpose card, encompassing payment functionality, government services, and travel documentation.

Despite NIMC’s assurances, concerns have been raised regarding the necessity and security implications of introducing a new identity card system when an operational one already exists.

Chief Deolu Ogunbanjo, President of the National Association of Telecoms Subscribers, questioned the rationale behind the new General Multipurpose Card (GMPC), citing NIMC’s existing mandate to issue such cards under Act No. 23 of 2007.

Ogunbanjo highlighted the successful implementation of MobileID by NIMC, which has provided identity verification for over 15 million individuals.

He expressed apprehension about integrating the new ID card with existing MobileID systems and raised concerns about data privacy and unauthorized duplication of ID cards.

Moreover, stakeholders are seeking clarification on the responsibilities for card blocking, replacement, and delivery in case of loss or theft, given the involvement of multiple parties, including banks, in the issuance process.

The shift towards utilizing banks for identity card issuance raises fundamental questions about data security, privacy, and the integrity of the identification process.

With financial institutions playing a pivotal role in distributing sensitive government documents, there are valid concerns about potential vulnerabilities and risks associated with this approach.

As the debate surrounding the security implications of the new national identity card continues to intensify, stakeholders are calling for greater transparency, accountability, and collaboration between government agencies and financial institutions to address these concerns effectively.

The paramount importance of safeguarding citizens’ personal information and ensuring the integrity of the identity verification process cannot be overstated, especially in an era of increasing digital interconnectedness and heightened cybersecurity threats.

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Israeli President Declares Iran’s Actions a ‘Declaration of War’

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Israel Gaza

Israeli President Isaac Herzog has characterized the recent series of attacks from Iran as nothing short of a “declaration of war” against the State of Israel.

This proclamation comes amidst escalating tensions between the two nations, with Iran’s aggressive actions prompting serious concerns within Israel and the international community.

The sequence of events leading to Herzog’s grave assessment began with a barrage of 300 ballistic missiles and drones launched by Iran towards Israel over the weekend.

While the Israeli defense forces managed to intercept a significant portion of these projectiles, the sheer scale of the assault sent shockwaves through the region.

President Herzog’s assertion of war was underscored by Israel’s careful consideration of its response options and ongoing discussions with its global partners.

The gravity of the situation prompted the convening of the G7, where member nations reaffirmed their commitment to Israel’s security, recognizing the severity of Iran’s actions.

However, the United States, a key ally of Israel, took a nuanced stance. President Joe Biden conveyed to Israeli Prime Minister Benjamin Netanyahu that, given the limited casualties and damage resulting from the attacks, the US would not support retaliatory strikes against Iran.

This position, though strategic, reflects a delicate balancing act in maintaining stability in the volatile Middle East region.

Meanwhile, Russian Foreign Minister Sergei Lavrov and his Iranian counterpart Hossein Amir-Abdollahian cautioned against further escalation, emphasizing the potential for heightened tensions and provocative acts to exacerbate the situation.

In response to the escalating crisis, the Nigerian government issued a call for restraint, urging both Iran and Israel to prioritize peaceful resolution and diplomatic efforts to ease tensions.

This appeal reflects the broader international consensus on the need to prevent further escalation and mitigate the risk of a wider conflict in the Middle East.

As Israel grapples with the implications of Iran’s aggressive actions and weighs its response options, President Herzog reiterated Israel’s commitment to peace while emphasizing the need to defend its people.

Despite calls for restraint from global allies, Israel remains vigilant in safeguarding its security amidst the growing threat posed by Iran’s belligerent behavior.

The coming days are likely to be critical as Israel navigates the complexities of its response while international efforts intensify to defuse the escalating tensions between Iran and Israel.

The specter of war looms large, underscoring the urgency of diplomatic engagement and concerted efforts to prevent further escalation in the region.

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