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2023 PRESIDENCY: Sack Emefiele as CBN gov now, Akeredolu tells Buhari

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Ondo State Governor, Arakunrin Oluwarotimi Akeredolu, has called on President Muhammadu Buhari to sack the Governor of the Central Bank, Mr Godwin Emefiele, for obtaining of All Progressives Congress presidential nomination form.

This was as the Peoples Democratic Party also lambasted the CBN Governor over the issue.

Akeredolu, in a statement he personally signed on Friday, said Emefiele’s purported action, “if unchecked timeously portends great danger to the fragile economy of the country.”

The governor said, “It is incontrovertible that Mr Emefiele enjoys a constitutionally protected right to belong to any group or association and participate fully, just as any Nigerian. It is, however, difficult to imagine that a person who occupies the exalted and sensitive office of the governor of the Central Bank of Nigeria will be this brazen in actualising his ambition.

“There is no gain asserting the obvious. The combined effect of the Public Service Rules, CBN Act and the 1999 Constitution, as amended, exposes not only the oddity inherent in this brash exercise of presumed right to associate. It also confirms the illegality of the act should he proceed to submit the forms while occupying the seat as Governor of the Central Bank of Nigeria.

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“He cannot combine partisan politics with the very delicate assignment of his office. Should he refuse to quit, it becomes incumbent on the President and Commander-in-Chief of the Armed Forces to remove him forthwith. This is a joke taken too far.”

Similarly, the National Publicity Secretary of the PDP, Mr Debo Ologunagba, said that the CBN Act clearly stated that the governor and deputy governors of the bank must be fully dedicated to their jobs.

Ologunagba berated the ruling APC and the President for promoting impunity and refusing to force Emefiele to leave office.

He added, “The CBN governor is governed by the CBN Act. Section 9 is unambiguously clear about what the CBN governor and deputies should do and it says they shall devote the whole of their time to the service of the bank and they will not engage in any other vocation.

“Now, his action is completely in contravention of that Act and that amounts to gross misconduct and that qualifies him to be removed from office in line with Section 11 of the Act. This is completely irresponsible and at variance with our laws.”

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The PDP spokesman said it was unfortunate that the CBN governor, who ought to be focused on the nation’s monetary policy, had the time to engage in partisan politics, adding that it was time for Nigerians to vote in the PDP to restore order.

Also reacting, a Senior Advocate of Nigeria, Mr Seyi Sowemimo, said the CBN governor” could not afford the distraction of the presidential bid.

He told one of our correspondents, “I have been seeing posters and been hearing that he is interested, but I saw it as a joke, because when you are managing the economy, I don’t think you have the time for this sort of distraction. With the way the economy is now, they should be fully engaging his attention and it even requires more than the time he can spare. But if he wants to do it, he should resign.

“For many of those people who want to contest, they should resign because the time and the effort that they will require to do these things will definitely impact adversely on their abilities to discharge the functions of the offices they are occupying.

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“Of all offices, the one that will really require the occupants to stay away from politics is that of the CBN governor and more so because the way the economy is now requires somebody who will devote 100 per cent of his time; so, what does he want to be doing campaigning all over the country and leaving the office to the deputy governor or what?”

 

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BREAKING: FG, states, LGs share N1.123tn in March

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The Federation Account Allocation Committee has disbursed a total of N1.123tn to the federal, state, and local governments for March 2024.

 

The allocation, derived from a gross total of N1.867tn, marks a critical distribution of funds aimed at supporting various government tiers.

 

This was revealed in a statement signed by the Director of Information and Public Relations, Ministry of Finance, Mohammed Manga, on Friday.

 

FAAC has the duty of examining and approving the distribution of financial resources to the states and the Federal Government.

Monthly, this committee is tasked with the disbursement of funds across Nigeria’s 36 states and its 774 local government areas.

 

This allocation is anticipated to drive progress and support governmental bodies across various tiers in executing their duties.

 

The FAAC shared N1.152.trn to the three tiers of government for February 2024 from a gross total of N2.326.14trn.

 

Manga stated that the Accountant General of the Federation, Mrs. Oluwatoyin Madein, chaired the meeting and highlighted the importance of the allocation.

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This distribution is pivotal in ensuring that all government levels have the necessary funds to continue their development projects and provide essential services to the citizens,” the statement read.

 

The statement noted that the Federal Government received N345.890bn, states, and local governments received N398.689bn and N288.688bn, respectively, while oil-producing states received N90.224bn as 13 per cent mineral revenue derivation.

 

The FAAC statement also noted an increase in the gross revenue from Value Added Tax for March 2024, amounting to N549.698bn—an N89.210bn rise from the previous month.

 

This increase reflects the country’s economic growth and improved tax compliance.

 

Despite the positive trend in VAT, the Gross Statutory Revenue of N1.017tn for March was lower than February’s N1.192tn by N175.212bn.

 

The decrease has been attributed to reductions in excise duty, oil royalty, petroleum profit tax, customs external tariff levies, and electronic money transfer levy.

 

The balance in the Excess Crude Account as of April 2024 stands at $473,754.57, indicating a reserve for future financial stability.

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The statement noted that the FAAC’s decision to allocate these funds is expected to bolster economic activities across the nation and support the government’s efforts in improving infrastructure, healthcare, education, and other vital sectors.

 

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Tinubu appoints Emomotimi Agama as SEC DG

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President Bola Tinubu has appointed Emomotimi Agama as the director general of the Securities and Exchange Commission (SEC).

 

Ajuri Ngelale, special adviser to the president on media and publicity, disclosed this in a statement on Friday.

 

Details later…

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Army releases Delta monarch declared wanted over Okuama killings

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The army has released Clement Ikolo, a traditional ruler in Delta state, who was arrested over the murder of 17 officers in Okuama community.

 

Ikolo was released on Friday during a briefing by Onyema Nwachukwu, director, army public relations, at the Army Headquarters in Abuja.

 

The army personnel were killed on March 14 during a peacekeeping operation in the community.

 

The Defence Headquarters had declared Ikolo among eight persons wanted in connection to the murder.

 

The monarch subsequently turned himself in after releasing a statement to plead his innocence.

 

Ikolo said taking lives is against his philosophy and faith as a Catholic, and urged the army to look elsewhere for the culprits.

 

The monarch was released to Ede Dafinone, senator representing Delta central, who stood as surety.

 

Nwachukwu said Ikolo’s release did not amount to exoneration but was only facilitated after the senator testified to his character.

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Others declared wanted over the murder are Ekpekpo Arthur, a professor of physics at the Delta State University; Akeywiru Omotegbono, Andaowei Bakrikri, Igoli Ebi, a lady; Akata David, Sinclear Oliki, and Reuben Baru.

 

After the killing of the officers, President Bola Tinubu and the military high command promised that the perpetrators would be brought to justice.

 

 

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