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Newspapers Headlines: CBN has my backing to redesign Naira, says Buhari

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1. President Muhammadu Buhari, on Sunday, backed the decision of the Central Bank of Nigeria, CBN, to launch new designs of the naira denominations. Buhari said Nigerians with illicit money stashed in the soil would have problems with the new naira notes.

2. President, Muhammadu Buhari, will today hold an emergency meeting with security chiefs in Abuja. Buhari, who was earlier scheduled to inaugurate the NASENI Complex, summoned the meeting which is expected to review and strengthen the security network in the country.

3. The leader of the Pan-Yoruba socio-political group, Afenifere, Pa Reuben Fasoranti, and several South West leaders, on Sunday, met with the presidential candidate of the All Progressives Congress, Asiwaju Bola Tinubu. The leaders promised their support for Tinubu during a meeting he had with them at Fasoranti’s residence in Ondo State.

4. Students of the Moshood Abiola Polytechnic, Abeokuta, Ogun State, have started a fundraising campaign to release their colleagues who were kidnapped by gunmen along the Lagos-Ibadan Expressway. Two MAPOLY students, Adejare Olayemi (male) and Oluwatobi Orekoya (female), and one Aminat Taiwo (female), were kidnapped on Friday.

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5. The Governor of Rivers State, Nyesom Wike, yesterday, hit back at Iyorchia Ayu, the National Chairman of the Peoples Democratic Party (PDP), over his remarks against Governor Samuel Ortom of Benue State. Wike, while reacting to Ayu’s statement that he has power to stop Ortom, said the chairman lacks integrity, describing him as corrupt.

6. The Socio-Economic Rights and Accountability Project (SERAP) has asked Presidential candidates of the Peoples Democratic Party (PDP), Atiku Abubakar; All Progressives Congress (APC), Bola Tinubu; Labour Party, Peter Obi and others to direct their campaign councils and political parties to regularly and widely publish the sources of their campaign funding.

7. The National Youth Leader, Peoples Democratic Party (PDP), Mohammed Suleiman, yesterday claimed that the party’s presidential candidate, Atiku Abubakar, is more grounded in grassroots politics than his rival, Bola Ahmed Tinubu of the All Progressive Congress (APC).

8. The Joint Drivers Welfare Association of Nigeria (JDWAN), yesterday, declared that there is no going back on its proposed seven-day strike, starting today, Monday, October 31, as its meeting with the Lagos State Government yielded no positive result.

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9. Twelve births have been recorded at the Ox-Bow Lake Internally Displaced Persons camp amid the ravaging flood in the Bayelsa State.
The Chairman of the Bayelsa State Emergency Management Committee (SEMA), Hon Walaman Samuel Igrubia, who disclosed this over the weekend during the distribution of relief materials to private IDP camps, said the births were made up of triplets, three sets of twins and two other births.

10. Gunmen suspected to be herdsmen have again killed three people at Tse Ikyem in Logo Local Government Area of Benue State. Sources from the community said the herders invaded the community in broad daylight, around 4pm on Saturday, killed three people, including a woman and injured many others.

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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…

READ  Good morning! Here Are Some Major News Headlines In The Newspapers Today: NIPOST staff shut down office, protest Tinubu’s appointment of CEO
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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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