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IMF Board Reaffirms ‘Full Confidence’ in Lagarde

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IMF
  • IMF Board Reaffirms ‘Full Confidence’ in Lagarde

The Executive Board of the International Monetary Fund (IMF) on Tuesday reaffirmed full confidence in its convicted Managing Director, Christine Lagarde.

This followed the legal proceedings in France where Lagarde was found guilty and convicted of negligence but did not hand down any punishment to her.

A statement posted on the multilateral institution’s website said the IMF’s Executive Board took all relevant factors into account in its discussions, including the managing director’s “outstanding leadership of the Fund and the wide respect and trust for her leadership globally”.

The five-paragraph statement explained: “The Executive Board met today to consider recent developments in the legal proceedings in France involving Managing Director Christine Lagarde. The Executive Board took all relevant factors into account in its discussions, including the Managing Director’s outstanding leadership of the Fund and the wide respect and trust for her leadership globally.

“In this context, the Executive Board reaffirms its full confidence in the Managing Director’s ability to continue to effectively carry out her duties.

“Under the Fund’s governance framework, the Managing Director is appointed by the Executive Board and performs her duties under the Board’s direction.

In the exercise of its oversight responsibilities, the Executive Board has met regularly, since the Managing Director’s appointment in 2011, to consider whether developments in the legal proceedings in France relating to the Managing Director have affected her ability to lead the Fund.

“The Executive Board looks forward to continuing to work with the Managing Director to address the difficult challenges facing the global economy.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Government

Buhari Bows to Pressure, Overhauls Murderous Police Unit, SARS

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FG, NPF Dissolve SARS Amid Nationwide Protests

President Muhammadu Buhari has finally bowed to pressure to disband the murderous Special Anti-Robbery Squad (SARS) unit of the Nigeria Police Force (NPF).

In a statement released on Sunday, Mohammed Adamu, Nigeria’s Inspector General of Police, said the Special Anti-Robbery Squad unit had been abolished “with immediate effect”. He, however, said SARS officers would be redeployed to other police units, formations and commands that the Nigerian people are saying also needs reform.

 

This was after President Buhari had said he met with the Inspector General of Police on Saturday to discuss reform of the UNIT against a complete overhaul being pushed by millions of harassed, dehumanised and disrespected Nigerian youths.

The statement further aggravated Nigerian youths, who encouraged Nigerians abroad to stage protests across the nation’s embassies in a move to draw international media and organisations to the plight of youths in Africa’s largest economy. Sensing chaos amid expected economic recession in the third quarter, President Buhari and the Nigeria Police Force quickly dissolved the murderous anti-robbery squad to force decorum and calm millions of angry Nigerian youths.

Nigerian youths, both celebrities, influencers and regular people, have used their social media backed with action to compel the Nigerian government, known for blatant disrespect, disregard and the use of counter-protests to suppress and discredit dissenting voice, to finally put to an end a police unit that has killed several youths for owning an iPhone, having a laptop, driving a car or even looking good.

This is a win for the Nigerian youths and sent a strong message to the leaders that youths will no longer tolerate their excesses and henceforth would be demanding accountability, transparency and the right implementation of the rule of law regardless of class, status or position.

To the youths, it validated what the majority have been clamouring for, UNITY that transcends tribes and religions. If Nigerian youths stick together and continue to demand change in one voice with civil disobedience, we will eventually have a Nigeria we all can be proud of.

Congratulations to US!.

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LAMATA Says Lagos Red Rail Project to be Operational by October 2022

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Railway Projects

Lagos Red Rail Project to be Operational in 24 Months

Lagos State Metropolitan Area Transport Authority (LAMATA) has said the ongoing Lagos Red Rail Line project will be completed for operation in the next 24 months, October 2022 to be precise.

Mrs Abimbola Akinajo, the Managing Director, LAMATA, disclosed this at a milestone meeting on the implementation of the Lagos Rail Mass Transit Red and Blue Line projects in Lagos on Tuesday.

In the meeting with contracts, Akinajo said the gathering was to reaffirm the established positions on timelines for delivery of the rail lines to passengers, according to a statement titled ‘Lagos red rail line will be operational in 24 months’ and signed by Kolawole Ojelabi, Assistant Director, Corporate Communication, LAMATA.

She said, “The red line is supposed to be a quick win because it will share tracks with the Nigerian Railway Corporation on its Lagos – Ibadan rail corridor. There will be no delays, no budget or cost overrun and there will not be any shift in delivery date.

“Our meeting is to take stock of what we have done so far since this project started and to re-emphasise that there is no room for slippage in the delivery of the red line.”

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#Endsars: Naira Marley Calls Off Protest following Police Invitation

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Naira Marley Says no Protest After Police Invitation

Afeez Fashola popularly known as Naira Marley has called off the nationwide protest scheduled for today, Tuesday 6, October 2020.

In a tweet put out by the musician a few minutes ago, he said “We won’t be protesting anymore because there’s a lot of changes being made right now. As a Marlian we will give them a week to see the changes and if there’s no changes we will start a mass protest.”

This was after the Nigeria Police Force reportedly invited the musician a day before the supposed protest to brief him on the ongoing efforts to address concerns of the Nigerian Youth regarding the operations of a unit of the Nigerian Police Force, Special Anti-Robbery Squad (SARS).

On Monday, Sunday Dare, the Minister of Youth and Sports Development, had urged the musician and his followers not to embark on the protest as their grievances are being addressed at the highest level of government.

He said “I urge you and other youth not to embark upon any protest. Your grievances are being addressed at the highest level of government. As the Minister in charge of youth, I know this is an issue that must be tackled. Government is doing just that.

On Tuesday, the musician announced he would be having a live Instagram chat with DCP Frank Mba to discuss the concerns of young Nigerians concern SARS operations.

This was after the Nigerian Police Force had tweeted that “@officialnairam1 The Inspector General of Police wishes to inform Nigerian youths that their voices and complaints on the issues of unprofessional conducts by some SARS operatives have been heared very loudly and clearly.”

However, angry Nigerian youth have started attacking the musician, calling him a Coward like Tu Face. Some claimed he has been paid to call off the protest like every other activist in the country.

Scotty Aluta @saintyommite1 said “At first i respected your actions towards planning a protest but my greatest regret is screenshotting your tweet and post in different platforms to salute your courage, now you just chickened out like everyone else! Real revolutionaries dont bow to pressure! I am disappointed.”

I am Riel @Iam_Riel said “Imagine, you don’t do this on the last day, it’d feel like you got threatened, you protest because you want them to change, not because of the changes you expecting, who would come out with you next week? This is wrong na.”

Manlike @fairlyodd_tweet said “I’m so disappointed in Naira marley, we all lashed at the NLC when they did the same thing now look at our so called youth backing down because they held one meeting that wouldn’t change anything.”

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