INSTANT NEWS

Okechukwu Ofili, the CEO of OkadaBooks, delivered the unfortunate news of the platform's closure through a statement on social media platform X (formerly Twitter) on November 20, 2023. The decision, attributed to challenging macroeconomic conditions, was described as difficult after exploring various options to overcome the hurdles.

Expressing gratitude to the literature community for years of support, Ofili acknowledged the challenges faced by OkadaBooks as insurmountable. Despite bidding farewell to the platform, he encouraged readers to continue exploring literature through alternative avenues, assuring them that the adventure takes a new and exciting turn.

Founded in 2013 by Ofili to assist writers in navigating self-publishing challenges, OkadaBooks evolved into a unique digital publishing and bookselling platform. In 2018, it gained recognition by being selected for Google's Launchpad Accelerator Africa, providing mentorship, training, and technological support.

Over the years, OkadaBooks became Africa's premier digital content provider, boasting over 40,000 original books and 400,000 registered readers. The platform is set to close its virtual doors on November 30, 2023.

The Chief Judge of Ogun State, Mosunmola Dipeolu, has expressed concern over the increasing prevalence of touts and fraudsters posing as bondsmen, submitting counterfeit documents to stand sureties for defendants in the state. This deceptive practice has led to a perversion of justice, with many defendants exploiting fake bonds to escape arrest and evade trial.

In response to this challenge, Chief Judge Dipeolu implemented a bondsman scheme in 2021 to combat the manipulation of the justice system. The scheme has proven effective in expediting legal proceedings and alleviating overcrowding in custodial centers. Since its inception, approximately 2800 individuals facing trial have regained their freedom through the scheme.

Chief Judge Dipeolu highlighted the success of the jail delivery exercise, noting that over 500 inmates have been released under her administration. During the Bondsmen Stakeholders Forum in Kobape, Abeokuta, she emphasized the importance of prison decongestion as a key initiative for accessing justice. However, the informal and corrupt nature of obtaining bail bonds posed a significant obstacle, leading defendants to resort to fraudulent means facilitated by touts and impostors presenting counterfeit documents in court.

Burna Boy has secured the top spot on the Billboard Year-End U.S. Afrobeats Artists Chart, reaffirming his global influence. The Grammy-winning Nigerian singer's accomplishment is notable, with Rema following closely in the second position. The chart also features talented artists like Tems, Libianca, and Wizkid in the third, fourth, and fifth spots, respectively.

The rest of the top 10 includes Ayra Starr, CKay, Asake, Davido, and Oxlade, showcasing the diverse talents within the Afrobeats genre. This ranking, released via the Billboard website, emphasizes the impact of these artists on the U.S. Afrobeats scene.

In addition to the artist chart, Rema's 'Calm Down' remix featuring Selena Gomez claimed the top spot on the Billboard Year-End U.S. Afrobeats Songs chart. Libianca's 'People' and Tems' 'Free Mind' secured the second and third positions, contributing to the rich musical landscape.

Wizkid's 'Essence' featuring Tems and Justin Bieber, along with Burna Boy's 'Last Last,' completed the top 5 songs on the Afrobeats Songs chart. Rema's 'Calm Down' further achieved notable success, ranking No. 1 on Billboard's 2023 Pop Airplay & Rhythmic Airplay year-end chart and securing the sixth position on the Hot 100 Year-End 2023 chart. These achievements underscore the growing influence and popularity of Afrobeats on the global music scene.

The Federal Government has given its approval for the establishment of the National Education Repository and Databank (NERD) system, as revealed by the Minister of Education, Prof Tahir Mamman. During a stakeholders' engagement program in Abuja, Mamman announced that the Federal Executive Council (FEC) not only approved the establishment of the National Databank for the education sector but also endorsed the national policy for its operation.

Mamman characterized the unveiling of the NERD project as a groundbreaking initiative, marking a pivotal moment in the history of post-secondary and tertiary education in Nigeria. Over the next five years, the Federal Ministry of Education, in collaboration with key stakeholders, aims to lead the NERD project, an ambitious digitalization effort capturing academic reports and publications dating back to 1932 from all types of institutions.

Highlighting the significance of this initiative, Mamman emphasized that it is the most audacious attempt to aggregate all knowledge produced in tertiary institutions without compromising their autonomy. The project is designed to preserve and digitize a comprehensive range of academic records and publications.

Mr. Ayodele Olawande, the Minister of State for Youth Development, commended the Ministry for addressing a critical national problem through the employment of state institutions. He expressed his appreciation for witnessing the federal government's commitment to knowledge preservation.

The Permanent Secretary, David Adejo, explained that the NERD project is a holistic effort to promote perpetual document and record preservation in electronic formats, contributing positively to national security and prestige. Adejo further noted that the Ministry of Education is collaborating with the private sector to establish the first-ever private-sector-led automated National Education Document Bank in Africa, serving as both a commercial enterprise and a significant contributor to the nation's digital economy.

Dr. Olasupo Olusi, the Managing Director of Bank of Industry Limited, Nigeria (BOI), has expressed the institution's commitment to partnering with modular refineries to address economic challenges in the country. During a facility visit to Waltersmith Refinery in Imo State, he emphasized BOI's dedication to supporting initiatives that contribute value to Nigeria's economy. Olusi highlighted the established partnership between BOI, the Nigerian Content Development and Management Board (NCDMB), and Waltersmith to promote local content production and address economic issues, including inflation.

BOI's strategic vision for localizing production aims to take control of Nigeria's energy sources. Olusi stated that advanced talks are underway for financing agreements to support the growth of modular refineries, with a particular focus on Waltersmith. The collaboration aims to contribute to managing inflation and fostering economic development.

Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, who accompanied Olusi on the visit, advocated for the presence of more active modular refineries in the country. He emphasized that supporting such refineries is crucial in addressing energy, oil, and gas challenges. The federal government, Lokpobiri added, is willing to provide funding and necessary assistance to active modular refineries to encourage increased productivity.

The Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello-Koko, revealed plans on Wednesday to introduce a policy and enforcement measures aimed at limiting the number of agencies operating in the port to a maximum of four. This initiative aligns with previous efforts under ex-President Muhammadu Buhari's administration, where NPA expelled seven out of the 14 agencies at the nation's sea ports. The goal is to streamline operations, reduce red tape, and enhance the ease of doing business in various sectors of the economy.

During the just-concluded Ministerial retreat of the Federal Ministry of Marine and Blue Economy in Lagos, Bello-Koko emphasized the need to address the return of previously expelled agencies to the ports, which has hindered the smooth facilitation of trade. The proposal to limit the number of operating agencies is expected to expedite cargo delivery to importers' warehouses, ultimately reducing costs and improving overall efficiency at the nation's ports.

At the retreat, Bello-Koko outlined NPA's ambitious port modernization program, intending to rehabilitate deteriorating port infrastructure at key locations like TinCan, Apapa, Rivers, Onne, and Delta Ports within the next four years. The comprehensive plan also includes enhancing cargo handling equipment and reducing cargo turnaround time to remain competitive within the region.

To unlock new opportunities, the NPA is considering the completion of new port developments in locations such as Badagry, Ibom, Ondo, and Bonny in the shortest possible time frame. Additionally, the NPA is actively focusing on critical enablers for trade facilitation, emphasizing the importance of collaboration between various government agencies, including Customs, the Nigerian Police Force, and the Federal Ministry of Works.

In line with its broader strategy, the NPA aims to strengthen blue governance and transform port operations through the implementation of key initiatives such as the National Single Window, Port Community System, International Cargo Tracking Note, and Vessel Tracking System. These efforts contribute to the overall transformation and sustainability of blue economy investments in Nigeria.

Concerned by the imminent threats of environmental pollution to human well-being, a gathering of experts in Ogun State convened on Wednesday to deliberate on viable solutions to address this pressing issue. The 16th National Conference and Annual General Meeting of the Nigeria Institute of Landscape Horticulture (NILH) took place at the Federal University of Agriculture in Abeokuta, where experts not only discussed potential remedies but also called for legislative support to enforce tree planting by landlords.

In her keynote address on the theme "Urban Greenery and Beautification as a Strategy for Control of Environmental Pollution and Climate Change," Dr. Elizabeth Augustus, the Provost of the Federal College of Agriculture in Ibadan, underscored the urgent need for green solutions to combat environmental pollution. Dr. Augustus highlighted the far-reaching consequences of pollution, encompassing climate change, water and soil contamination, and adverse impacts on aquatic life, agriculture, and wildlife, ultimately posing severe risks to human health.

Addressing specific health concerns linked to pollution, Dr. Augustus pointed out the connection to chronic obstructive pulmonary disease, respiratory issues, and heightened hospitalization rates. Proposing a strategic approach, she advocated for the integration of greenery and beautification as crucial interventions, emphasizing the significant role of plants in the global carbon cycle and their potential in mitigating climate change. Dr. Augustus also stressed the importance of phytoremediation, a plant-based method designed to extract and remove pollutants from the soil, thus reclaiming polluted areas and stabilizing soil fertility.

Aligning with the call for legislative support, Kola Quadri, the President of NILH, urged the National Assembly to enact a law requiring homeowners to plant at least one tree within their premises. Emphasizing the widespread impact of climate change in Nigeria and the world, Quadri suggested starting the initiative at the local government level, with subsequent adoption by the state assemblies.

Echoing these sentiments, Emmanuel Bankole, the Ogun State chairman of the institute, emphasized that the purpose of the program was to draw attention to the effects of climate change and propose practical solutions. Bankole affirmed the institute's commitment to collaborating with government authorities at all levels to mitigate global warming, ensuring the preservation of the environment for current and future generations.

Renowned singer Charles Chibuezechukwu, popularly known as Crayon, has shared a piece of advice with his fellow artists and creatives, cautioning them against the misconception that abusing illicit substances can enhance their creativity. According to Crayon, genuine talent is the source of creative inspiration, and the use of weed or other drugs won't magically bestow creativity upon those lacking inherent artistic abilities.

The 'Ngozi' crooner emphatically urged his colleagues to abstain from any form of substance abuse. Taking to his social media handle, Crayon stated, "The biggest lie na say igbo/weed/drugs dey bring inspiration, lol. Na the biggest lie, bros. You get talent, you get talent, if you no sabi, you no sabi, if you like smoke one bag of Igbo, shishi you no vibe! Don’t be deceived. Please, say no to drugs!"

Crayon's advice stems from his personal journey, as he recently disclosed his past struggles with substance addiction. It was Mavin Records producer and Blowtime Imprint CEO, Babyfresh, who discovered Crayon's talent and advised him to break free from the grip of illicit substances. The artist has since embraced a drug-free lifestyle, emphasizing the importance of authentic talent over substance-induced creativity.

Governor Abba Yusuf of Kano State has taken his case to the Supreme Court to challenge the ruling of the Appeal Court that resulted in his removal from office. The Appeal Court had previously ousted Governor Yusuf, a member of the New Nigeria Peoples Party (NNPP), on the grounds of his alleged ineligibility to contest. The court simultaneously declared Nasiru Gawuna, the candidate of the All Progressives Congress (APC), as the winner of the gubernatorial election in Kano State.

The aftermath of the Appeal Court's decision has been marked by confusion, particularly regarding the content and implications of the judgment. To address the uncertainties surrounding the ruling, the court has directed concerned legal professionals to provide certified true copies of the judgment for necessary corrections.

The crux of the matter revolves around the Appeal Court's assertion that Governor Yusuf was not a valid member of the NNPP during the election. However, the certified true copies of the judgment have added to the perplexity by seemingly indicating the court's affirmation of Yusuf's victory. This development has further intensified the legal intricacies surrounding the case, creating a complex and uncertain situation that Governor Abba Yusuf seeks to address through the legal recourse available at the Supreme Court.

Ugborodo Community in Warri South-West Local Government Area of Delta State took a stand on Wednesday by erecting the shrine of a formidable idol in front of the Chevron Escravos Gas to Liquid (EGTL) facility. The purpose of this symbolic action was to protest against Chevron's alleged failure to implement the Petroleum Industry Act (PIA), according to the community's indigenes.

The demonstrators, brandishing placards and obstructing the entrance to the facility, clarified that the idol named "Ogbejugbele" posed no threat to Chevron staff. Instead, its presence signified their ancestors' discontent with the company. The protesters insisted they would remain at Chevron's facilities until the federal government intervenes and compels the oil giant to address their grievances.

Among the 41 demands presented by the protestors, the primary call was for Chevron to adhere to the provisions of the Petroleum Industry Act (PIA) and the Ikpere Host Community PIA, as previously agreed upon by the National Upstream Regulatory Commission (NURPC). Additionally, they urged Chevron to provide employment opportunities for the youth and residents of Ugborodo and Itsekiri communities.

Speaking to the media, Helen Uremure, a community woman leader, expressed the frustration that led to the protest, citing Chevron's failure to fulfill its corporate social responsibilities. Over the past 60 years, she claimed, the community has not benefited from Chevron's presence in terms of employment or contracts, leaving elders unsupported.

Julie Iwetan, another resident, echoed the sentiment, emphasizing the community's hunger and suffering. Ukueyinden Ajuetsi, a youth, highlighted the lack of basic amenities such as clean water and electricity, emphasizing the absence of employment opportunities.

Joseph Ireyefoju, a community leader, criticized Chevron for ongoing maintenance work that brought in external workers, neglecting the indigenous population of Ugborodo and disregarding local content laws.

Augustine Iyinbo, one of the protest leaders, emphasized the community's resolve not to leave until Chevron takes the necessary actions.

The Senate has declared its determination to ensure the dismissal and prosecution of the Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, along with other top executives. This stern stance follows the alleged expenditure of N12 trillion on the turn-around maintenance (TAM) of the country's non-operational refineries.

The Senate Ad hoc Committee, responsible for investigating various TAM projects within Nigerian refineries, disclosed that records show expenditures exceeding $592 million, €4.8 million, and £3.4 million between 2010 and 2023 on TAM, without corresponding functionality improvements in the refineries.

During an interactive session with the NNPCL management and executives from the oil sector, the committee expressed dissatisfaction with the non-appearance of chief executive officers from invited agencies. Among these agencies were the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and their subsidiaries.

Senator Isa Jibrin, the chairman of the ad hoc committee, emphasized the urgency of understanding and rectifying the identified leakages in the turn-around efforts. He declared the committee's intent to demand refunds and dismissals of all chief executives involved in the maintenance projects.

Senator Yahaya Abdullahi echoed the sentiment that representatives should communicate to their chief executives the imperative to appear in person. Senator Sumaila Kawu highlighted the seriousness of the Senate's business and its commitment to representing the interests of the people. He urged respect for the Constitution and warned of possible suspension of the interaction until the agencies were ready for meaningful participation.

Senator Danjuma Goje clarified that the committee's focus is on dealing directly with heads or chief executives rather than their representatives. He proposed setting new dates for the submission of required documents and scheduling a meeting where chief executives must personally attend. The agencies were given until Tuesday to provide the necessary documents ahead of the meeting with their respective chief executives.

The 12th Annual Zik Lecture Series featured insightful discussions by prominent figures, including the former Prime Minister of Malawi, Joyce Banda, Governor Seyi Makinde of Oyo State, Governor Chukwuma Soludo of Anambra, and the Presidential candidate of the Labour Party in the last general elections, Mr Peter Obi. The speakers explored ways to propel Africa forward and enhance its competitiveness on the global stage.

Joyce Banda, addressing the challenge of poverty and corrupt leadership, urged Africans to unite for meaningful growth and development. She emphasized the need to address corruption within African leadership, drawing attention to organized crimes and looting that hinder the continent's progress. Banda also advocated for the active involvement of African women in discussions related to the upliftment of women and the importance of addressing climate change for sustainable development.

Governor Seyi Makinde stressed the importance of restructuring Nigeria to strengthen political and socio-economic unity. He called for a comprehensive restructuring that considers the most effective structure for the country, emphasizing the need to move beyond ethnic divisions and promote healthy competition for national progress. Makinde highlighted the national outlook of Zik of Africa and his belief in the indivisibility of Nigeria.

Peter Obi, the guest of honour, emphasized the critical role of dismantling criminality among leaders to overcome the challenges facing Africa. He pointed to leadership as the root cause of the continent's struggles and called for concerted efforts to eliminate criminal elements within African leadership.

In summary, the Zik Lecture Series provided a platform for thought-provoking discussions on the way forward for Africa, addressing issues of corruption, leadership, restructuring, and the need for unity to foster development on the continent.

In a surprising turn of events, Dauda Lawal of the main opposition Peoples Democratic Party (PDP) emerged victorious in the Zamfara governorship election held on March 18, unseating the then-incumbent Bello Mattawalle of the All Progressives Congress (APC). Lawal secured 377,726 votes, while Mattawalle trailed with 311,976 votes. However, six months later, the fate of Zamfara's leadership has been thrown into uncertainty.

The Appeal Court delivered a significant blow to Lawal's victory by nullifying the election results. The ruling came after Mattawalle, who now serves as the Minister of State for Defence, contested the outcome, accusing the Independent National Electoral Commission (INEC) of omitting certain ward areas' results. Despite Mattawalle's claims, the Zamfara Election Petitions Tribunal dismissed the petition on September 18, deeming it without merit and imposing a fine of N500,000 on the petitioners.

Undeterred, Mattawalle escalated the matter to the Court of Appeal in Abuja, seeking to challenge the tribunal's decision. Finally, on Thursday, a three-member panel led by Justice Oyebisi Folayemi granted respite to Mattawalle by nullifying Lawal's victory in the governorship poll. This latest development adds a layer of complexity to the political landscape in Zamfara, leaving the leadership of the North-Western state hanging in the balance.

The memo addressed to heads of universities states that, effective November 2023, the government will deduct 40% of IGR deposited in the universities' accounts via the Treasury Single Accounts (TSA). This move has been met with resistance from academic staff, notably the Academic Staff Union of Universities (ASUU), which has a history of engaging in strikes to address issues affecting the education sector.

Critics argue that the proposed deduction could exacerbate existing challenges faced by universities, including the departure of lecturers seeking better opportunities abroad and the overall decline in academic standards. The issue highlights the ongoing struggle for adequate funding in Nigerian universities, as the country's education spending has consistently fallen below UNESCO's recommended benchmarks.

In response to the deduction, ASUU and the Congress of Nigerian University Academics (CONUA) expressed concern, describing the decision as draconian, barbaric, and detrimental to the survival of public universities. There are fears that this deduction may lead to further tuition hikes, impacting students and their families.

This development emphasizes the need for a comprehensive and sustainable approach to funding education in Nigeria. The government, education stakeholders, and university workers must engage in dialogue to find solutions that prioritize the growth and stability of the education sector while addressing the concerns of all parties involved.

The Obafemi Awolowo University in Ile-Ife, Osun State, is mourning the loss of Dr. Ayo Ojediran, a lecturer in the Faculty of Education, who reportedly slumped in his office. Sources on the campus revealed that Ojediran was swiftly taken to the institution’s clinic after collapsing on Tuesday but unfortunately did not survive.

Victor Adesokan, the President of the Faculty of Education Students Association of Nigeria, shared details of the incident during an interview. Adesokan, who considered Ojediran a father figure, mentioned that the lecturer had complained of a headache and appeared extremely weak the night before his passing.

Expressing concerns about the faculty's current academic staff shortage, Adesokan highlighted that Ojediran's death marked the fourth among the faculty's lecturers in the outgoing year. He emphasized the need for additional recruitment to alleviate the workload on existing staff members.

Adesokan stated, “On Monday night, he complained of headache and stress. We told him to rest. They (lecturers) have too much workload on them. The school needs to recruit more lecturers, most especially in the Faculty of Education."

He further urged the government and school management to prioritize the well-being of lecturers and prevent further loss of lives among the academic staff.

The Saudi Arabian Embassy clarified on Wednesday that the visas of 177 Air Peace passengers from Nigeria were canceled upon arrival in Jeddah for violating the country's entry rules. The Federal Government, citing reports from the Nigerian Consulate in Jeddah, stated that Air Peace Flight No. P4-752 transported 264 passengers from Lagos and Kano to Jeddah on November 23, 2023.

Upon arrival at the Hajj terminal, Saudi Immigration authorities informed passengers that their visas were canceled. Subsequently, 177 passengers were returned to Nigeria, while 87 were allowed entry into Jeddah after clearance by immigration.

The Embassy's statement emphasized that the deported Nigerians had provided incorrect information to obtain a visa category that did not apply to them, a discovery made upon their arrival. It clarified that these individuals did not fulfill entry conditions in accordance with the Kingdom's rules and regulations.

The Royal Embassy stressed the importance of adhering to Saudi Arabia's procedures and laws, urging all passengers to review their documents for conformity before departing from their countries. The statement highlighted that this procedure applied not only to Nigerian citizens but also to citizens of other countries.

The Central Bank of Nigeria (CBN) is intensifying efforts to combat currency hoarding and speculation, which are believed to contribute to the depreciation of the naira against major foreign currencies. Speculators and hoarders, identified as undermining government initiatives to stabilize the naira, face increased scrutiny. Recent positive strides in naira appreciation were marred by a subsequent decline, prompting suspicions of artificial market manipulation through speculation and hoarding.

While many Nigerians celebrated the previous naira appreciation, speculators and hoarders incurred losses, leading to suspicions that powerful entities, including politically exposed persons involved in foreign exchange round-tripping, are resisting government measures. The CBN, armed with intelligence, is poised to launch a campaign targeting these individuals, aiming to decisively address their disruptive activities.

A source within the CBN, speaking anonymously, revealed the central bank's determination to counteract the pushback from speculators and traders. The CBN plans to initiate a robust campaign against these disruptive forces to preserve the recent gains made in stabilizing the naira. Aminu Gwadabe, President of the Association of Bureau de Change Operators of Nigeria (ABCON), emphasized the CBN's readiness to inflict consequences on currency speculators, emphasizing the risks associated with attempting to manipulate the naira against its recent positive trajectory. The CBN's multifaceted approach includes measures such as dollar liquidity injection and naira mopping through interest rate hikes. The market is cautioned against further attacks on the naira, as the CBN remains well-equipped to safeguard its recent successes.

A significant wave of innovation is expected to be unleashed through a two-day event, featuring the Naija SDGs Fintech-AI Hackathon Finals and a conference. The hackathon finale, themed "From Promise to Cash," is scheduled for December 5, and the conference will follow on December 6. These events will be held at Microsoft Office Garage in Ikoyi, Lagos, and the Radisson Blu Anchorage Hotel, respectively, commencing at 9 a.m. 

Uchi Uchibeke, the founder of NaijaHacks and AfricaHacks, emphasized that hackathon participants would harness advanced technology to create local value, directly contributing to the Sustainable Development Goals (SDGs). Successful hackathons rely on collaboration between participants and partners, as evidenced by their partnership with the Naija SDGs AI & Fintech Hackathon.

Bankole Oloruntoba, CEO of the Nigeria Climate Innovation Center, highlighted the organization's commitment to contributing to the achievement of the SDGs through its various projects. He stated that the Naija SDGs Fintech Hackathon had made an impactful contribution over the last two years, and they aim to scale this impact this year.

Mr. Emmanuel Etaderhi, the Executive Secretary of FC4S Lagos, described the Naija SDGs Fintech Hackathon as a journey of innovation and impact. The event aims to nurture fintech talents to address the United Nations' 2030 Sustainable Development Goals, now incorporating an artificial intelligence component.

The hackathon, designed to promote talented fintech and AI enthusiasts aged 18-35, is open for registration. Participants focused on crafting innovative AI and fintech solutions that enhance sustainable development can register until November 25, 2023, via this link: https://apply.africahacks.com/challenge/Naija_SDGs_AI_&_Fintech_Hackathon

During the hackathon finals' first day, registered participants will pitch their creative solutions to high-level judges with extensive industry experience. The second day will bring together key industry leaders and subject matter experts to explore the digital frontier and announce the top three hackathon finalists.

Both events provide opportunities to expand participants' networks for career growth and success. They will feature potential mentors, connections with industry professionals, and visionary speakers.

President Bola Tinubu has given his approval for the appointment of twenty capable Nigerians to serve as Federal Commissioners in the National Population Commission (NPC). Nine of these appointees are current Federal Commissioners who have been reappointed for a second term:

The appointees' names were disclosed in a statement issued by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale. The list includes Hon. Emmanuel Trump Eke (Abia), Dr. Clifford Zirra (Adamawa, reappointed), Mr. Chidi Christopher Ezeoke (Anambra, reappointed), and Barr. Isa Audu Buratai (Borno, reappointed). 

Other newly appointed Federal Commissioners are Bishop Alex Ukam (Cross River), Ms. Blessyn Brume-Ataguba (Delta), Dr. Jeremiah Ogbonna Nwankwegu (Ebonyi), Dr. Tony Aiyejina (Edo, reappointed), Mr. Ejike Ezeh (Enugu, reappointed), Mr. Abubakar Damburam (Gombe, reappointed), Prof. Uba Nnabue (Imo, reappointed), Ms. Sa’adatu Dogon Bauchi Garba (Kaduna), Dr. Aminu Ibrahim Tsanyawa (Kano), and Hon. Yori Afolabi (Kogi).

Furthermore, Hon. Olakunle Sobukola (Ogun), Hon. Temitayo Oluseye Oluwatuyi (Ondo), Sen. Mudashiru Hussain (Osun, reappointed), Ms. Mary Ishaya Afan (Plateau), Mr. Ogiri Itotenaan Henry (Rivers), and Mr. Saany Sale (Taraba, reappointed) have also been appointed.

President Tinubu has entrusted the new and returning NPC Federal Commissioners with the important task of effectively implementing measures that will generate accurate population data. These data will be crucial in addressing Nigeria's socio-political and economic challenges with well-informed solutions.

Debate Surrounds Government's Exchange Rate Target and Banking Sector Reorganization

Amid reports suggesting that the Federal Government is working on attaining an exchange rate target of N500-N600 per US dollar while contemplating banking sector reorganization, various private sector organizations and financial experts have voiced differing opinions on the viability and benefits of such objectives. Their recommendations to establish a stable macroeconomic environment addressing exchange rate volatility have been expressed to guide the government.

Dr. Tope Fasua, Special Adviser to the President on Economic Matters, revealed during a recent event that the government has plans to boost the value of the naira. He attributed the recent strengthening of the naira to policies being implemented by the government and warned individuals hoarding foreign currencies that these policies may come as a surprise to them.

In response, the Nigeria Employers Consultative Association (NECA) and economic experts commended the initiative but urged the government to clarify and disclose specific policy plans. They emphasized the importance of local production, tackling the nation's import dependence, and ensuring alignment between fiscal and monetary policy authorities before targeting a lower exchange rate.

NECA's Director-General, Mr. Adewale-Smatt Oyerinde, encouraged the government to engage with organized businesses to gain consensus and support for ongoing reforms. Olatunde Amolegbe, the immediate past President of the Chartered Institute of Stockbrokers, expressed uncertainty about the working paper to achieve the exchange rate goal, emphasizing the need for more information.

Nnamdi Nwizu, Co-Founder of Comercio Partners Limited, praised the alignment of fiscal and monetary policy authorities but called for more transparency regarding actions and their impact on strengthening the economy and promoting exports.

Mallam Garba Kurfi, Managing Director/CEO of APT Securities & Funds, saw the exchange rate target as a positive development that could lead to lower inflation rates and increased economic output. He anticipated that the central bank's actions, likely related to restructuring the banking system, could help achieve the goal.

Ambrose Omordion, an analyst at Invesdata Consulting Limited, believed that achieving the exchange rate target is feasible, primarily due to sustained high international oil prices. He suggested that funding from organizations like the World Bank and increased foreign investment could enhance foreign exchange earnings. Recommendations from NECA and financial experts included addressing the nation's import dependency, privatizing national refineries, maximizing crude production, and promoting local production to reduce pressure on the naira. Monitoring bank accounts for currency hoarding and encouraging production and exports were also recommended to increase the supply of foreign exchange.

The debate highlights the complexities and challenges associated with exchange rate stabilization and financial sector reform in Nigeria. While the government's intentions are commendable, the path to achieving these goals remains a topic of discussion and potential scrutiny.