Airwaves Watch

President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate. This directive is in conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which vests in the President of the Federal Republic of Nigeria, the authority to appoint the Governor and Four (4) Deputy Governors for the Central Bank of Nigeria (CBN), subject to confirmation by the Senate of the Federal Republic of Nigeria. Furthermore, President Bola Tinubu has approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending their confirmation by the Nigerian Senate, as listed below: (1) Mrs. Emem Nnana Usoro (2) Mr. Muhammad Sani Abdullahi Dattijo (3) Mr. Philip Ikeazor (4) Dr. Bala M. Bello In line with President Bola Tinubu\’s Renewed Hope agenda, the President expects the above listed nominees to successfully implement critical reforms at the Central Bank of Nigeria, which will enhance the confidence of Nigerians and international partners in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all. 320 Views

President Bola Ahmed Tinubu and President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, on Monday in Abu Dhabi, have finalized a historic agreement, which has resulted in the immediate cessation of the visa ban placed on Nigerian travelers. Furthermore, by this historic agreement, both Etihad Airlines and Emirates Airlines are to immediately resume flight schedules into and out of Nigeria, without any further delay. As negotiated between the two Heads of State, this immediate restoration of flight activity, through these two airlines and between the two countries, does not involve any immediate payment by the Nigerian government. In recognition of President Tinubu\’s economic development diplomacy drive and proposals today presented by President Tinubu to his counterpart, an agreed framework has been established, which will involve several billions of U.S. dollars worth of new investments into the Nigerian economy across multiple sectors, including defense, agriculture and others, by the investment arms of the Government of the United Arab Emirates. Additionally, President Tinubu is pleased to have successfully negotiated a joint, new foreign exchange liquidity programme between the two Governments, which will be announced in detail in the coming weeks. The President wishes to commend the UAE President, Mohamed bin Zayed Al Nahyan, for his unalloyed friendship and his determined effort to join hands with him to fully normalize and reset to excellence, the standard of relations between the two important countries. 371 Views

The Department of State Services (DSS) stated that it has uncovered plans by some elements in parts of the country to stage violent protests in order to discredit the Federal Government and security agencies over sundry socioeconomic matters. Intelligence reports have indicated that the plotters include certain politicians who are desperately mobilising unsuspecting student leaders, ethnic based associations, youth and disgruntled groups for the planned action. Meanwhile, the Service claimed to have identified the ring leaders of the plot as well as sustained monitoring around them in order to deter them from plunging the country into anarchy. In view of this development, University Vice-Chancellors and Heads of Tertiary Institutions are advised to discourage their students from engaging in acts capable of derailing public peace. Also, parents and guardians are enjoined to admonish their children and wards respectively to shun the lure of participating in inimical behaviours or conducts against law and order. However, DSS warns that it will not hesitate to legally come against persons and groups behind the devious plans. 325 Views

The Lagos State Government has announced that the Blue Line Rail will start commercial operations on Monday, September 4th 2023. The Blue Line Rail will move from Marina to Mile 2. Governor of Lagos State, Mr Jide Sanwoolu is expected to be the first passenger at exactly 9am at the Marina Station. From Tuesday, Partial passenger Operations will start from 6:30am to 10am. (Morning peak) the afternoon Peak, from 4pm to 9:30pm. This Operations will start with 12 trips for  2 weeks which will be ramped up to 76 trips per day. 450 Views

  Could this be a relief on Naira? The NNPC Ltd. and @afreximbank have jointly signed a commitment letter and Termsheet for an emergency $3billion crude oil repayment loan. The signing, which took place today at the bank\’s headquarters in Cairo, Egypt, will provide some immediate disbursement that will enable the NNPC Ltd. to support the Federal Government in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market. 422 Views

Nigeria\’s Intervention Team comprising prominent Islamic scholars in the country, approved by President Bola Tinubu a few days ago met with the coup leaders in Niger where both parties agreed to intensify the option of dialogue in resolving the political crisis in that country. The Islamic Ulammas led by Sheik Abdullahi Bala Lau met with General Abdourahmane Tchiani for several hours in Niger\’s capital Niamey during which they deliberated on all the issues including the demand by ECOWAS leaders that former President Bazoum be reinstated. In a statement, sheikh Bala Lau said the team had earlier told President Tinubu who is also the Chairman of the authority of ECOWAS Heads of State and Government that their position is that the political impasse in Niger be resolved through dialogue. He, therefore told General Tchiani that the visit to Niger was to engage in constructive dialogue to encourage him and other military leaders behind the coup to toe the path of peace instead of war to resolve the crisis. Responding, General Tchiani who accorded the team warm reception welcomed their intervention. He said their doors were open to explore diplomacy and peace in resolving the matter. General Tchiani, however, said it was painful to the coup leaders that the ECOWAS leaders did not hear their side of the matter before issuing an ultimatum to them to quit office. He claimed the coup was well intended, stating that they struck to starve off an imminent threat that would have affected not only the Niger Republic but also Nigeria. He also apologised for not according to the team sent by President Tinubu led by former Head of State, General Abdulsalami Abubakar (rtd) the required attention because they were angry about the ECOWAS ultimatum. While tracing the historical ties between the two nations, he said the Niger Republic and Nigeria were not only neighbours but brothers and sisters who should resolve issues amicably. 394 Views

President Bola Tinubu has approved the establishment of Infrastructure Support Fund (ISF) for the 36 States of the Federation as part of measures to cushion the effects of the petrol subsidy removal on the people. The approval was disclosed at the monthly meeting of the Federation Account Allocation Committee (FAAC), on Thursday July 20, 2023, in Abuja. The new Infrastructure Fund will enable the States to intervene and invest in the critical areas of Transportation, including farm to market road improvements; Agriculture, encompassing livestock and ranching solutions; Health, with a focus on basic healthcare; Education, especially basic education; Power and Water Resources, that will improve economic competitiveness, create jobs and deliver economic prosperity for Nigerians. The Committee also resolved to save a portion of the monthly distributable proceeds to minimize the impact of the increased revenues-occasioned by the subsidy removal and exchange rate unification-on money supply, as well as inflation and the exchange rate. Out of the June 2023 distributable revenue of 1.9 trillion Naira, only N907 billion will be distributed among the three tiers of government, while N790 billion will be saved, and the rest will be used for statutory deductions. These savings will complement the efforts of the Infrastructure Support Fund (ISF) and other existing and planned fiscal measures, all aimed at ensuring that the subsidy removal translates into tangible improvements in the lives and living standards of Nigerians. The Committee commends President Tinubu for the bold decision to remove the petrol subsidy, and even more importantly, for providing necessary support to the States to cushion the effects of the subsidy removal on Nigerians. 345 Views

Troops of 192 Battalion Nigerian Army (NA) operating in 81 Division Area of Responsibility have busted an international ammunition smuggling syndicate, while transporting a truck load of smuggled ammunition to Anambra State on Saturday 15 July 2023. The troops, who acted on actionable Intelligence conducted a meticulous and rigorous Stop and Search operation along Ajilete-Owode Road in Yewa North LGA of Ogun State and uncovered the illegal ammunition in a truck with Registration number ENU 697 XY, loaded with 720 packets of Red Star Cartridges of 12 Calibre, containing 25 cartridges per packet, totalling 18, 000 cartridges and an additional 250 packets of live (black) cartridges containing 10 packets each, totalling 2500 cartridges of same calibre. The suspects, identified as Mr. Eric Seworvor, a Ghanaian national, and the driver, Mr Lukman Sani, have been taken into custody and are helping with ongoing investigations. Information gathered during preliminary investigation revealed that the ammunition, which were surreptitiously concealed in a supposed empty truck were imported from Mali, via Idiroko International Border, where the criminals had successfully beaten several other checkpoints en-route their final destination in Onitsha, Anambra State, where they intended to deliver the illegal ammunition. Timely intervention by the vigilant troops however thwarted the chaos that such volume of ammunition would have unleashed on innocent members of the public, if the criminals had succeeded.  The Nigerian Army therefore appeals to all law abiding citizens to continue to support the troops and other security agencies with credible and actionable information, as they combat security challenges across the country. 303 Views