General News

Buhari Takes Train Ride In Lagos

Published

2 weeks ago

January 25, 2023

President Muhammadu Buhari, on Tuesday, January 24, 2023, inaugurated the first phase of the Lagos Blue Rail Line, and took a ride from the Marina Station to National Theatre Station in Lagos mainland shortly thereafter.

Buhari was on the train ride alongside Lagos State Governor, Babajide Sanwo-Olu; Deputy Governor of the state, Dr. Obafemi Hamzat; some members of the federal and state executive councils; members of the federal and state legislative assemblies; President of China Civil Engineering Construction Company (CCECC), Chen Sichang and journalists, among others.

The first phase of the project, executed by the state government, which spans 13 kilometres, has five stations – Mile 2, Suru-Alaba, Orile Iganmu, National Theatre, and Marina.

However, for now, the operating route terminates at the National Theatre.

Buhari also witnessed the signing of the contract for the construction of the second phase of the Lagos Blue Rail Line. Managing Director of Lagos Metropolitan Area Transport Authority (LAMATA), Abimbola Akinajo, signed for Lagos State government, and President of CCECC, Chen Sichang, signed for the foreign firm.

In his remarks, Sanwo-Olu thanked the president for the state visit to inaugurate several landmark projects, noting that since 1999, the state has not enjoyed the level of support from the federal government.

On the benefits of the project, the governor stated that it would reduce travel time, improve the quality of life of citizens and make Lagos one of the most resilient mega-cities in Africa that would compete favourably with other megacities around the world.

Sanwo-Olu hinted that he would invite the president again to Lagos, to also inaugurate the Red Line, which he described as a bigger rail corridor project compared with the Blue Rail Line.

‘‘This iconic Marina Station would be the largest and busiest in Africa. It has the capacity to process about 450 passengers per minute, meaning that in an hour this station can process about 250,000 passengers.”

Sanwo-Olu paid tribute to “the architect of modern Lagos, who is also the presidential candidate of our great party, the All Progressives Congress (APC), and by the special grace of God, a most worthy successor to you, Mr. President, our Leader, Asiwaju Bola Ahmed Tinubu, the Jagaban of Borgu Kingdom.

“This Blue Line we are commissioning today is the product of his timeless vision for Lagos State, a vision that dates back almost 25 years, when he took over the reins of leadership in Lagos State.

“One of his greatest legacies was developing a comprehensive roadmap for the future of Lagos State; one that laid out very clearly the pathway to a modern, prosperous, and globally competitive megacity

“Over the years the journey has been eventful, and many challenges have been surmounted, including a lack of support and cooperation from the Peoples Democratic Party, when they were in power. It is not a secret that the only ambition of that party was to capture Lagos, not to support progress and development.

“They made this clear in very many ways, including the unconstitutional withholding of critical funds, and brazen attempts to manipulate elections. To his eternal credit, Asiwaju Bola Ahmed Tinubu stood his ground, and never backed down, setting out an excellent example for all of us, his successors, on the importance of believing in a vision and holding firmly to it at all times.”

Related Topics:Featured President Muhammadu Buhari

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General News

Emefiele Should Be Arrested, New Naira A Recipe For Chaos – FFK

Published

1 day ago

February 4, 2023

Peter Mary Tanimu

Emefiele Should Be Arrested, New Naira A Recipe For Chaos - FFK

Femi Fani-Kayode, a former aviation minister, has demanded that Godwin Emefiele, the Governor of the Central Bank of Nigeria, be placed under arrest.

The Nigerian lawyer said as much in a tweet, stating that the CBN governor opposes democracy, introducing fresh naira notes to create disaster.

FFK tweeted; “Let me make this clear. Emefiele has NO intention of releasing new naira notes until March. He wants people to suffer, he wants chaos & he wants to scuttle the election. He is a dangerous pawn in the hands of sinister anti-democratic forces. Remove, arrest & detain him NOW!”

Remember that the Central Bank of Nigeria declared on October 26, 2022, that the 200, 500, and 1,000 notes will be redesigned.

The new naira notes will start to circulate starting on December 15, 2022, and will be used alongside the current notes until the CBN’s deadline of January 31, 2023, according to the statement made by the bank’s governor, Godwin Emefiele.

As a result of the efforts to replace the country’s paper money with newly produced currency notes, there is a shortage of cash, which prevents citizens from purchasing essentials and forces businesses across the country to close.

The resulting effect was caused by commercial banks not having enough new cash to distribute to customers, as the process of replacing the old currency notes was hurried which led to cash scarcity.

CBN further extended the deadline for the expiration of the old notes till February 10th, as the Apex bank also instructed Commercial Banks to begin issuing the newly designed naira notes to customers over the counter.

General News

CBN Directs Banks To Pay New Notes Over-The-Counter

Published

2 days ago

February 3, 2023

Peter Mary Tanimu

CBN Directs Banks To Pay New Notes Over-The-Counter

Commercial Banks in Nigeria have been directed by the Central Bank of Nigeria (CBN) to begin issuing the newly designed naira notes to customers over the counter.

CBN announced in a press release that the latest directive was intended to ease the difficulties Nigerians are having accessing the new notes and to shorten lines at ATMs.

Part of the CBN’s press release read; “While reiterating our commitment to Nigerians to ensure the effective distribution of the newly introduced Naira banknotes, we urge them to exercise patience as the CBN is working assiduously to address the challenge of queues at ATMs.

“In line with this resolve, the Governor, Mr. Godwin Emefiele, has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000.

“We also admonish members of the public to embrace and adopt other payment channels for their transactions. The Naira is our legal tender and symbol of national pride. Therefore, let us
respect it and handle it with care.”

Nigerians were also warned by the apex bank not to disrespect the Naira at social gatherings or face arrest by law enforcement.

The Central Bank of Nigeria (CBN) further states that it is working with the Nigeria Police, the Federal Inland Revenue Service (FIRS), the Economic and Financial Crimes Commission (EFCC), and the Nigerian Financial Intelligence Unit (NFIU) to combat the unpatriotic behavior.

General News

Buhari Vows To End Naira Scarcity, Sets Deadline

Published

2 days ago

February 3, 2023

Peter Mary Tanimu

Buhari Vows To End Naira Scarcity, Sets Deadline

President Muhammadu Buhari has pledged to eliminate the cash shortage that has persisted since the introduction of the new Naira.

Buhari, who admitted being aware of the problem brought on by his administration’s implementation of the cashless policy, stated that he had convened with a group of governors to come up with a solution within the next seven days.

He said; “I am aware of the cash shortages and hardship being faced by people and businesses, on account of the Naira redesign. I want to assure that we are doing everything to resolve these issues. Nigerians should expect significant improvements between now and the February 10 deadline.

“I met with a delegation of Governors today, on the matter. All the complaints about the execution of the currency change are being seriously looked into. I will ensure that everything is resolved in a lasting manner, and we will all enjoy the long-term benefits of the decision.”

As a result of the Buhari administration’s efforts to replace the country’s paper money with newly produced currency notes, there is a shortage of cash, which prevents citizens from purchasing essentials and forces businesses across the country to close.

According to the Central Bank of Nigeria, the redesigned 200, 500, and 1,000-naira bills as well as new restrictions on large cash withdrawals would help prevent money laundering.

However, because commercial banks don’t have enough new cash to distribute to customers, the process of replacing the old currency notes is hurried which has led to a shortage of cash.