₦airaland Forum

Pavarottii:
Lol. U looked at the action parts of the picture.
Crazy guy!

But I still dey try understand Tinubu cap.

Reski:
Truce or no truce. Tompolo is still a wanted man. No man is bigger than the law. He must vomit all the yams he ate under Gej.

LuckyLadolce:
honestly i had to stand up from my bed and went to popsy's room to show him his friend's cap.. Asiwaju cap no be here ooo

mzjaney:

U people are wicked

victorazy:
This got me cracking

Beremx:
Not until the price of a bag of rice is reversed to 8,000naira, i am not part of the useless rebirth m

The minister of Information and Culture, Alhaji Lai Mohammed, has disclosed that the government will soon hold a summit on national rebirth, values and ethics.


Lai Mohammed said the executive and legislative arms of the federal government are in a good relationship

He said during the event, the government would launch the national re-orientation campaign, tagged ‘Change Begins with Me’.

Mohammed, who recently said he committed a sin against Nigerians by talking too much during the All Progress Congress (APC) campaigns before the 2015 general elections, described as a lie reports of an ongoing feud between the legislative and the executive arms of government.

He said instead, the two arms are working harmoniously to improve the social and economic well-being of the citizenry.

Mohammed made the remarks in Abuja when he received the Senate committee on media and public affairs, led by its chairman, Aliyu Sabi Abdullahi, on a courtesy visit.


“If the spokesman of the Senate wants to meet the spokesman of government, that says a lot about the trust, understanding and also the confidence between the two arms of government. 

“This visit will also show the world that the so-called feud between the executive arm of government and the legislative arm is only the figment of their own imagination,” he said. ‎

Alhaji Mohammed restated the commitment of the present administration to ensuring good governance, providing adequate security and revamping the economy in order to deliver the change that Nigerians are yearning for.

“It proves once again that this government, each arm of the government, is working in tandem. They recognise security, the economy and good governance as the sole pillars of any government,” he said.

The minister said upon assumption of office, he adopted creative and pragmatic approach to bridge the communication gap between the government and the people in order to deepen democracy and inspire trust and confidence among the people.

“We realise the importance of information to the deepening and sustenance of democracy and to that extent, we have evolved means to ensure that there is no communication gap between the government and those that are governed.

“We put people right in the centre of our communication strategy. We know that the moment that gap exist then you create opportunity for mischief makers, misconception, half truths and downright falsehood,” he said.

Mohammed identified town hall meetings as a deliberate strategy adopted by the government to communicate with the people directly to inform them about the policies and programmes of the government and at the same time get feedback on their perception of government.

In his remarks, Abdullahi said though the challenges confronting the nation are surmountable, there is the need for greater value re-orientation.‎

He sought the collaboration of the minister in the efforts to promote actions that will bring about positive change in Nigeria.

“As managers of the information and communication space of two critical arms of this democratic government, permit me to note that we need, more than ever before, to proactively work to promote and canvass for the urgent need to ensure genuine and sincere actions anchored on rule of law, due diligence and due process.

“In doing this, we must promote confidence building through genuine co-creation, co-action, co-operation, collaboration and co-ordination,” he said.

Abuja – The Presidency on Wednesday commended the House of Representatives for giving prompt action to two executive bills that scaled through second reading.

This is contained in a statement issued on Wednesday in Abuja by Alhaji Suleiman Kawu, Special Assistant to the President on National Assembly Matters (House of Reps). “We wish to thank the House of Representatives under the leadership of Speaker Yakubu Dogara for passing two of our bills today, June 15, 2016,’’ the statement said.

“One is a Bill for an Act to Provide for the Domestication and Enforcement in Nigeria of the Avoidance of Double Taxation Agreement between the Federal Republic of Nigeria and the Kingdom of Spain.

“The other is a Bill for an Act to Provide for the Domestication and Enforcement in Nigeria of the Avoidance of Double Taxation Agreement between the Federal Republic of Nigeria and the Republic of South Korea and for Other Related Matters.’’

According to the statement, this singular action has shown that the House is solidly behind the executive on its numerous policies aimed at making Nigeria better. “We hope you will also pass our other bills that are currently before the House with the same zeal that you passed these two.

“Indeed, we believe that this will guaranty a robust and cordial relationship between the executive and the House in the next three years. “While we thank the House for passing these two bills and others before now, we look forward to your usual cooperation for the passage of other Executive Bills we intend to bring before the hallowed chamber soon,’’ the statement stated. (NAN)

Three weeks after he announced the introduction of a flexible exchange rate regime, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, will today finally unveil the much-anticipated guidelines paving the way for the new forex regime, THISDAY exclusively learnt on Tuesday.

This is just as the Minister of Finance, Mrs Kemi Adeosun, disclosed that the federal government has resolved to facilitate a N90 billion loan for  the 36 states of the federation to enable them meet their obligations, but cautioned that it should not be deemed a bailout for the states but a facility with stringent conditions attached to it.

A top CBN official, who confirmed yesterday that Emefiele would brief the press today on the flexible exchange regime however did not provide further details on what the guidelines would entail.

He said the CBN was now adequately prepared and has the firepower to support the new flexible forex regime, adding: “Once it is announced, we expect to see stability in the forex market and some appreciation in the parallel market that will reduce the gap between the official and informal forex market rates.”

Another source with the central bank however revealed that he expects the central bank governor, having held wide consultations with stakeholders in the financial markets on the new structure for the forex market, to announce a single window, not a two-tier forex exchange regime with a special intervention window for critical transactions as announced by the governor after last month’s meeting of the Monetary Policy Committee (MPC).

The source added that he expects Emefiele to also announce a devaluation of the naira to an adjustable rate that will be determined by a two-way quote system.
“The naira will be devalued tomorrow (today) and will be market-driven going forward by a two-way quote system,” the source revealed.

The CBN has been hamstrung by dwindling oil earnings, brought on by low oil prices and the violent activities of militants in the Niger Delta. Both had combined to reduce the country’s monthly oil revenue from an all-time high of $3.2 billion about two years ago to about $500,000 in April.

Experiencing great difficulties funding the nation’s imports as a result of scarce foreign exchange, a situation that put increasing pressure on the naira, the CBN for over a year pegged the naira at N197-N199 to the dollar and imposed currency curbs on certain items.

Its obstinacy was worsened by President Muhammadu Buhari’s ill-advised opposition to the devaluation of the naira.
But as the economy contracted and plunged into a recession, foreign investors fled the economy and inflation spiralled, the central bank was forced to rethink its forex policy in order to open up the forex market while conserving forex reserves.

The dollar currently trades at N365 on the parallel market.
At the last MPC meeting held last month, members agreed to hold all policy rates constant and introduce greater flexibility in managing the forex rate. As a result of this, a lot of investors were cautiously optimistic and indeed excited.

Emefiele had said the central bank resolved to introduce greater flexibility in the foreign exchange market, but would retain a small window for critical transactions for prospective investors.
Since the announcement, the central bank has been consulting with stakeholders in the economy on the new forex policy.

[size=15pt]N90bn Loan for States[/size]

Meanwhile, the minister of finance yesterday disclosed that the federal government had resolved to facilitate a N90 billon loan for the 36 states of the federation, but cautioned that it was not a bailout but a facility with stringent conditions attached to it.

“It’s actually a loan that is going to be repaid. It’s not a bailout,” she told journalists at a news briefing, shortly after a meeting with state commissioners of finance in Abuja.

The credit facility followed the approval of state governors to implement a comprehensive 22-point Fiscal Sustainability Plan (FSP) to among other things make critical reforms, cut wasteful spending, eliminate ghost workers on the payrolls of their respective states, as well as pay salaries electronically to workers’ individual accounts.
The minister explained that the loan would be raised from the private sector through the issuance of bonds which have been guaranteed by the federal government.

She said: “That is the only way we can get the rates down. The federal government is guaranteeing the bonds and they are being issued in the normal manner that bonds are issued.”

According to her, the sum of N50 billion would be secured in the first three months and shared among the participating states which include all the 36 states, while another N40 billion would be activated for another nine months.

Adeosun said: “The idea is to tide states over for a year so that they can balance their portfolios which on average is about N1.3 billion for the states for the first three months and then N1.1 billion for the next nine months.
“It’s a loan and it’s going to be fully repaid because it’s been secured with future dividends, revenues and any amount that the federal government may owe the states.”

Asked whether allocations from states’ share from the monthly Federation Accounts Allocation Committee (FAAC) would be affected as a result of the proposed credit arrangement, the minister said: “We are not suspending allocation from the Federation Account as it will still be there.
“For now, we need to support the states and they have agreed to that and the lenders are ready to make an advance to them to help them through the period.”

On the conditions attached to the loan, she said: “When you want to borrow money, the lenders set the conditions and these conditions are very stringent conditions and they are 22 of them and the states have signed up to them.
“The governors unanimously approved the plan, the commissioners approved the plan and it’s going to involve a lot of work in some places.

“They have to clean up their ghost workers, they have to set up efficiency unit, they have to reduce their recurrent expenditure, they have to publish their accounts – there are a lot of tough conditions.

“So the governors and commissioners recognise that these reforms are necessary if they want states to be fiscally sustainable.”
Adeosun further stated that under the new dispensation in fiscal sustainability among the tiers of government, every state must now strive to be economically viable by embarking on public-private sector partnerships to unleash their potentials.

She said: “Every state must be viable. We cannot have a situation where states are so dependent on the Federation Account for their revenues and once Federation Account is down they cannot survive.”

According to her, “We have to make sure that within each state, whatever local advantage they have is exploited.
“So if there is no private sector to collect taxes from, maybe there are agricultural produce which can be developed and the states can use that to generate revenue.

“What we are saying is that every single state is a centre of prosperity, every state should go and look inwards and work to generate its own IGR and have the discipline to ensure that they can pay salaries, clear out wastage, so that as the economy improves, we can actually improve to grow with the future.

“The objective of the fiscal sustainability plan is to achieve it in an 18-month period and that is the condition for the loan and it’s not a bailout.”

Responding on behalf of the state commissioners, the Jigawa State Commissioner for Finance Umaru Namadi expressed gratitude to the federal government, assuring it that the states would abide by the conditions of the loan.

Lalasticlala, Mynd44

Former Minister of State for Defence, Musiliu Obanikoro, has reacted to raid of his home by operatives of the Economic and Financial Crimes Commission, EFCC.

Vehicles, among other valuables, were reportedly carted away.


The former PDP governorship aspirant in Lagos State, via his twitter handle Wednesday morning, condemned the act, describing it as witch-hunt and injustice.

He accused President Mmuhammadu Buhari-led government of promoting “ethnic divisions, political persecution and official gangsterism.”

Lalasticlala, Mynd44

ademoladeji:
BeeBee0oh!






Why?







BeeBee0oh!

Nigerians might experiment fuel scarcity again as the owners of Mega Petrol Filling Stations have threatened to shut down operations following an alleged imposition of a lower pump price on them by the Nigeria National Petroleum Company (NNPC) .

This was revealed at a briefing held by the Mega Filling Station Owners of Nigeria (AMFSON) in Kaduna.

The association claimed that Ibe Kachikwu, the Group Managing Director (GMD) of NNPC, had directed that all mega filling stations sell fuel at varying rates of N130.00, N135.00, N140.00 per litre, while their competitors sell
at N145 per litre.

Kenneth Nwachukwu, the association’s national Secretary, said: “We are kicking against a directive by the Minister of State for Petroleum that we sell fuel for less than N145 per litre. We are all marketers and we get
supplies at the same source and at the same price. Why should we be made to sell at N130, N135 and N140 per litre while others sell for N145 per litre? With this pronouncement by the Minister, we foresee a looming fuel
scarcity because we may have to shut operations nationwide. ”



“We also see fuel scarcity because some unscrupulous marketers would rather get their supplies and sell in the black market at N145 than take the fuel to their stations and this will cause another crisis in the retail chain.”

“We have never seen this kind of policy. In fact it will increase corruption which government is fighting tooth and nail to stop. ”

“Some people are already bribing their way at the depots and officials there are selling to them at a price lower than the official one. These people can afford to sell at a price lower than N145. But we buy at official price and as such cannot be forced sell lower than N145,” he added.

irunooboo:
They must make biafra agitations and any form of secession a crime punishable by death penalty. No group of people must be allowed to break away from Nigeria.

Senate President Bukola Saraki
The Senate has begun moves to amend the 1999 Constitution with 13 bills seeking the review of various section of the constitution.
At the plenary yesterday, all the bills were referred to the Constitution Review Committee chaired by the Deputy Senate President, Ike Ekweremadu.




Eleven of the bills are on second reading while the remaining two are on first reading.
Our correspondent reports that while three of the bills were sponsored by Senator Babajide Omoworare (APC, Osun East), the duo of Senator Rose Oko (PDP, Cross River North) and Senator Philip Aduda (PDP, FCT) sponsored two each.

On their parts, Senator Theodore Orji (PDP, Abia Central), Senator Abdullahi Adamu (APC, Nasarawa West), Senator Stella Oduah (PDP, Anambra North), Senator Bala Ibn Na’Allah (APC, Kebbi South), Senator Olusola Adeyeye (APC, Osun Central) and Senator Gbolahan Dada (APC, Ogun West) sponsored a bill each on the amendment of the country’s constitution.

The Senate President, Bukola Saraki, gave the committee four weeks to report back.
“All the bills on the constitution review are hereby referred to the committee on constitution review for further legislative actions, “he said.

myfantasies:
Kpo ya omalicha nkita