Lol it's funny how some of life's problems are counterintuitive. The millitary heavy handed bans on trade and fishing pushes civilians to black markets facilitated by terrorists. They allow commerce but just regulate it instead of collapsing local economy.
Start by licensing fishers. You'll earn tax revenue and know who is working area. Then go after traitors working directly with terrorists.
Four trucks loaded with smoked fish and some animal hides belonging to Boko Haram insurgents have been intercepted and publicly set ablaze by the military in Maiduguri on Friday.
According to the Theater Commander, Operation Lafiya Dole, Olusegun Adeniyi, the four trucks were intercepted on August 16 by officials of the Nigeria Security and Civil Defense Corps (NSCDC) while on patrol along highways leading to the Lake Chad area.
Before now, the military and government of Borno State had placed a total ban on all fishing activities around Lake Chad, based on the intelligence that such businesses have been hijacked by the Boko Haram.
According to the military, Boko Haram members now engage in active fishing as a means of revenue generation.
The military imposed strict sanctions on offenders including the burning of the items alongside the vehicles used in the transportation.
Addressing journalists at the outskirt of Maiduguri where the four vehicles, comprising two Toyota Land Cruiser trucks, a pick-up van and a Peugeot 504 salon, were set ablaze, Mr Adeniyi said the exercise was intended to send a strong message to those conniving with Boko Haram.
The major-general said one of the strategies being deployed by the military is to cripple the Boko Haram economy so that the insurgents would not have the oxygen to continue carrying out their “evil attacks on innocent Nigerians.”
“Fishing is one of the major source of income that boosts the Boko Haram economy,” he said
“Unfortunately, people from liberated areas who have no regards for lives and properties, or regards for the national cause to end this insurgency, and the common criminals who make money from everything, do go to Boko Haram camps, buy this fish, then bring it to sell in our markets.
“So, with that, Boko Haram now has a running economy that is generating funds for their dastardly activities.
“Therefore, the authorities said no, this cannot be allowed to go on.
“Though we have fully recognised the legitimacy of the fishing industry in Nigeria. However, the fishing being done by Boko Haram is to create confusion, continue the insurgency and to sustain their destruction of the Northeast and the country in general.”
Mr Adeniyi, who has been in the northeast theatre of war since 2015, reiterated that the ban on fishing is a standing policy that will be sustained until all Boko Haram activities are satisfactorily degraded.
“You will agree with me that Boko Haram would have by now stopped fishing if not for the people that would go there to buy from them. Even when I was the deputy theatre commander, our efforts were out to arrest illegal commerce in fishing. But all the same, some unscrupulous Nigerians will do everything possible to make money even at the expense of the lives and security of their fellow being.
“But on this day God is with us when our civil defence component of the Theatre intercepted the four vehicles who tried to escape but were effectively outsmarted. They brought them to the army after thorough investigation. The laid down procedure of burning them will be carried out.”
The official called on the members of the Nigerian Union of Road Transport Workers (NURTW) who “have been partnering with the military” to further advice their members not to take part in the illegal fishing business.
“The NURTW should not allow its members to be carrying fish for Boko Haram,” he said.
“Let us end this insurgency once and for all because Boko Haram without revenue is a finished Boko Haram. I want to say it sternly that it will not be allowed for anybody caught transporting fish for Boko Haram; both the fish and that mode of transportation will be destroyed.”
He said the burning of the four vehicles and the items they carried would have been done in the hinterlands where the vehicles were intercepted.
“But burning the four vehicles here in Maiduguri gives us a good opportunity to clearly tell other law-abiding citizens that if they release their hard-earned vehicles, even camel or donkey or canoe to be used for transporting fish for Boko Haram, you’re already part of the insurgency because you are aiding it and will be treated as an enemy of Nigeria.”
A PREMIUM TIMES correspondent witnessed as security personnel and members of the NURTW, including three drivers of the confiscated vehicles, offloaded the fish – some of which were concealed inside animal feeds – into a dug pit where petrol and diesel were used to burn them and the emptied vehicles.
One of the drivers who asked not to be named told PREMIUM TIMES that he regretted his action.
Mr Adeniyi said the drivers would be held in custody and further investigation carried out to ascertain the owners of the destroyed fish and hides and how they were able to establish the link with the Boko Haram fishermen.
Soldiers are involved – Traders
There are also allegations that while the military bans the civilians from the fish business, some soldiers have turned themselves into fish merchants who would buy the fish from locals in the fishing communities like Baga and Doro in Kukawa local government, and then transport same to Maiduguri markets
Some fish traders in Maiduguri alleged that most of the fish sold in the markets in the state capital are brought by military officers.
“The fish we sell here sometimes are brought to the market by military officers who would accompany the pickup vans and then use our local dealers to negotiate the sales, collect their money and return to Baga,” said a trader who asked not to be named because their market union had warned that they should not speak on the matter.
The source said the soldiers would either seize or buy the fish from some of the local fishermen at cheap prices and then organise the vehicles to transport the items to the market in Maiduguri, where they sell them at high prices.
The fish dealer also said some traders are allowed to transport fish to the market after bribing soldiers, which adds to the cost of the fish.
“Ordinarily, a king-size carton of smoked fish goes for about N15,000; but when such fish arrive here we buy them at N35,000 or N40,000.
When Mr Adeniyi was confronted with this allegation, he said any soldier caught would be punished.
“We cannot say we don’t have some few unscrupulous elements amongst us,” the major-general said.
“What I expect the media to help us do is to kindly expose that soldier and we will take it up from there. Go ahead and make your findings, get the soldiers service number if possible, publish it and then we will also deal with such soldier in our already laid down military procedure. We are here to end this Boko Haram insurgency and we will not spare anyone found to be working against our mission,” he said.
All they care is elections. They have just finished 2019 and are aligning and strategizing for 2023. That's the kind of leaders we have in Nigeria
Lol that's true. Its funny the opposition couldn't capitalize on this. I dont remember anyone saying buhari made unemployment sugrge or suggest his ERGP failed. The people and media are worse for not making fuss about it. Imagine if Trump stopped releasing unemployment numbers.
My little conspiracy theory is the they sinply stopped because it would look bad during the election. The unemployment rate crept up about 7% within a year. The economy is one the major weak points of Buhari administration. The NBS kept providing other stats like GDP and Inflation stats but only this major one stopped.
The only flaw to my theory is the NBS hasn't been consistent with providing these stats to begin with. You can do a search to see the official unemployment stats are sparce to begin with.
PS: Remember to email them if your interested in rate.
gidgiddy: It's terrible. These guys were abducted by the DSS where they holding a meeting.Their Lawyer Femi went to court to challenge their arrest. The case was still in court when the Nigerian government hurriedly deported them to Cameroon, a country run by the brutal dictator called Paul Biya.
Oh well Nigeria selectively obeys court orders. It's going to interesting how this issue resolves itself under the next few years. Do the people give up or do they resist futher.
The defendants had been arrested in Nigeria in January 2018 and deported back to Cameroon.
The court also ordered the 10 to pay a fine of 250bn CFA francs ($422m; £359m) to the government for civil damages and 12bn CFA francs for court costs.
Wow Nigeria did these guys dirty. Falana's appeals to the FG failed considering these guys are getting life in prison. There FG ignored court order to repatriate them. Lol the Court sentence is hilariously brutal sit in jail for life and pay us billions somehow.
The issues could be resolved by becoming a federal state like Canada. They have French and English speaking regions existing without much issues.
A leader of Cameroon's separatist movement, Sisiku Ayuk Tabe, and nine of his followers have been given life sentences by a military court in the capital, Yaoundé.
They were convicted of rebellion, among other charges.
Their lawyers accused the judge of bias and withdrew from the proceedings.
The English-speaking separatists argue they are marginalised by the bureaucracy and school system in the majority French-speaking country.
The defendants had been arrested in Nigeria in January 2018 and deported back to Cameroon.
The court session on the verdicts, which started on Monday, went on until 05:30 (04:30 GMT) local time Tuesday morning, reports the BBC's Leocadio Bongben.
By that time the defence lawyers had already withdrawn from the proceedings but continued to stay in the court as spectators.
Defence barrister Joseph Fru said there were irregularities in the proceedings, including the judge's biases, but the military court rejected his evidence.
The long list of charges included rebellion, complicity in terrorism, financing terrorism, revolution, insurrection, hostility against the state, propagation of fake news and lack of identification.
The court also ordered the 10 to pay a fine of 250bn CFA francs ($422m; £359m) to the government for civil damages and 12bn CFA francs for court costs.
Among the 10 who were convicted was Sisiku Ayuk Tabe, the leader of the so-called Governing Council of Ambazonia - the name separatists have given to Cameroon's Anglophone North-West and South-West regions.
Cameroon's English-speakers say they have been marginalised for decades by the central government and the French-speaking majority.
The current crisis started in 2016 when lawyers and teachers went on strike over the use of French in courts and schools.
In October 2017, activists declared autonomy over the two English-speaking regions - a move rejected by Cameroon's President Paul Biya.
Some took up arms in 2017 and the crisis has forced more than 500,000 people from their homes.
Why does Cameroon have both English and French-speakers?
• On 1 January 1960, the French colony of Cameroun gained independence and became Cameroon.
• On 1 October 1960, Nigeria gained independence from the UK.
• The UK also controlled the former German colony of Cameroon. At independence, its citizens were given a choice of joining either Nigeria or Cameroon.
• Southern Cameroonians opted to unite with Cameroon, while Northern Cameroon joined Nigeria.
The crime rate is reduced from what percentage? I dont understand how Nigeria Journalist miss this important detail. Do these guys not have editors or ask questions. It's like saying a runner broke a sprinting record without mentioning run time.
The NBS has not providing Nigerians the unemployment statistics for 2 quarters. The unemployment rate is an important indicator of the overall health of the economy. It serves as a lagging indicator which informs after economic trend takes hold. It's used in determining monetary policy for CBN and fiscal policy. The NBS is yet to forecast when it will release this piece of economic data. If your interested in this issue email them requesting, it.
Johnsghana: You see this West African Brotherhood is a farce. Nigerians are the ones who are not wise at all. When Nigeria was sweet in the 70s & 80s, Ghanaians were trooping into Nigeria, taking out jobs and using our passport to go abroad. Now that the case is reversed, Ghanaians have resorted to soiling the name of Nigeria at every opportunity they get. The Ghana immigration officials are more corrupt than Nigerian Immigration officials, they just operate with sense.
Social media and other news platform in Ghana (myjoyonline.com Ghanaweb.com) are filled with so many hateful comments from Ghanaians and yet Nigerians will still show them love.
The people of Ghana should remember that we will not forget how they have treated us in our time of need.
What does brotherhood have do enforcing rule of law. Does your brother enter your place disaboying rules without being reprimanded? Nigeria has deported Ghanaians back then and now so relax. If the Ghanaian officials are we have diplomatic channels to address our treatment there.
There are thousands of Nigerians living there peacefully as long they ovey laws of land. One should expect consequently for criminality. Being in need isnt an excuse to commit crimes like fraud.
helinues: Meanwhile they are not shouting marginalization
The cult of victimhood hasnt inflected their minds. It's funny how it's usually non hausa crying about issue dor them like their hands are bound. The discussion isnt even productive since we're talking ideas like walk away campaign in US advocated by Candace Owens.
NGpatriot: Your word of mouth, your own personal, baseless and generalized opinion is not evidence because you are yet to show us credible evidence, facts, poll and research results that says every Nigerian is against the program.
This is what you get when people like you spin yourself out of control with ignorant rants that you can not support with facts.
How do you sit on NL and quickly conduct your own National like or dislike poll about a new government program?
Too many comedians dey run around naked on NL sha.
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Long winded idiotic rants are certainly your specialty. Lol all this because you could debate economics of the policy. I already gave you evidence which your yet to debunk just side step away.
NGpatriot: You are free to speak on whatever economic policy you fancy, that's your own personal cup of tea, but you can not generalize and credit the rest of Nigeria with your own misguided, baseless and ignorant conclusion.
Next time before generalizing or telling us what every soul in Nigeria like or dislike, accompany such proclamation with facts, polls, and survey
Sadly for you, you blindly discounted and discredited a government program you know little or nothing about, you blindly asserted that the whole of Nigeria is not interested in the plan while at the same time ranting about blindly supporting a government program. You must have looked in the mirror.
The issue here is not about supporting or not supporting anything, you are free to support anything under the sun, but you can not speak for every Nigeria about what they like or dislike. Limit such ignorance to yourself and your fans.
I'd still love to see the poll you conducted before concluding that Nigerians are against this government plan.
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Your rant is still pointless idiotic. My comment was about economics. Your pms tantrum is about the need for poll or what ever strawman you conjure up. Lol not one question answered or economic argument made.
Only a mentally challenged person takes a statement to mean literally everyone like you did multiple times. You dont need poll but it would be helpful. You have social media post to analyze and fact majority of states haven't affirmed yes.
By the time we finish, we should be able to move out of the port every 10 minutes,” he said.
By December, 2019, we should get to the ports.
Not bad try to keep the date. Y'all need to get to other ports expeditiously (in T.I's voice).
30 wagons to be deployed to ferry 20 to 30 containers each directly from the port daily.
Can't you guys stack the containers on top of eachother or would that unsafe at the trains speed. I've seen it dont and took picture when I was on the road. If you can you'll get 60 containers moved daily.
NGpatriot: So, your new and another foley of yours is what the government indicated or not indicated in terms of funding and not the fact that you cluelessly asserted that nobody in Nigeria is interested in the program, including me that you haven't discussed anything with...
This so far is a policy statement and proposal, not a detailed program where all the players, stakeholders and the states (Owners of the land) haven't keyed in yet or stated the cost of the land they intend to lease out to the farmers and entities involved so why are you ranting about the government cost.
Even the farmers and the potential stakeholders are yet to state in clear business terms the amount of land they need or the total cost of their operations and exactly what their operations are going to look like, including the cost of land, raw material, overhead and associated cost.
This is a voluntary participation program and until there are credible interests via the states and the livestock industry stating in clear terms what they need in terms of material and support, it's premature and imprudent to rant about an ordinary policy statement and proposal.
Obviously, you couldn't support or defend your initial ill-informed and misguided rant about taxpayers not wanting the program.
Lastly, it is perfectly OK to disagree with any government program or even anything your heart desire, but narrow such disagreement to yourself and not the rest of Nigeria, I mean the Nigerians you haven't asked or polled or surveyed per their interest in the program to determine their support or objection.
Learn how to speak for yourself and quit generalizing baselessly.
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What a pointlessly long and idiotic rant. Why is is so hard to speak on the economics of policy for you? I guess I'll just leave you to your emotional tantrums. Im guessing its your time off the month. Dont forget to change your pads. Lol people are supposed to blindly support a policy with no plan or direction?
Perennial congestion of roads inward Apapa port may find a lasting solution by December when the Federal Government completes the Lagos-Ibadan rail line extension into the port.
The ongoing standard gauge rail line extension project is the major arm of a holistic measure to permanently decongest the busiest port in the country.
The Managing Director of the Nigerian Railway Corporation (NRC), Fidet Okhiria, disclosed the December deadline in response to stakeholders’ calls for proper integration of rails to ports nationwide.
Okhiria told The Guardian at the recent West African Port and Rail Evolution Forum (WA-PoRa) in Lagos that efforts were on to link rail network to ports across the country to take the pressure off the highways, beginning with Lagos.
Recall that the perennial gridlock of trucks and trailers that escalated early 2018 has practically outsmart all executive fiat, but with the hope that an improvement in road networks and rail tracks extension will do some magic.
Besides the ongoing road rehabilitation at the Creek, Burma and Apapa-Oshodi expressway sections of the corridor, the Presidential Task Force on Apapa Gridlock is already in place to manage free-flow of traffic inwards the port area.
Okhiria said right now, serious work is ongoing on the rail line, and the Lagos State government is supporting the progress of the construction.
“They are making the right of way available. If you go to the railway compound, you will see that they have started the drainages and already trying to create that link to Apapa.
“It is going to be a modern rail system and it will be in such a way that we will have train-to-train communication. No train will run into another because the drivers will be able to talk to one another. By the time we finish, we should be able to move out of the port every 10 minutes,” he said.
The MD explained that the rail track extension means massive cargo movement from the port, with 30 wagons to be deployed to ferry 20 to 30 containers each directly from the port daily.
“They will be linked to the seaside so that you can offload directly from the ship to the wagons. By December, 2019, we should get to the ports.
“We are making tremendous progress. As we speak, we can comfortably be on a train from Iju to Ibadan terminal. We have not started operating at the station yet because we want the station to be developed, which they are building and by October or November, 2019, the stations will be in good condition,” he said.
Concerned stakeholders had earlier called for the integration of rail network to ports to aid free movement of goods nationwide.
Portfolio Director of transport for DMG events, Daniel Block, said there is no quantifying the gains that await more dependence on rail for goods at the port.
“The traffic in Lagos is much and the roads are not in great conditions. The bridges are unstable. So, if the rail system is created or upgraded to take cargo from the ports into the rest of the city and into neighbouring states, and so on, it will free up the roads.
“All those trucks sitting on the roads don’t need to be there. If there can be a parking lot for the trucks and if there is a rail system, to take all the containers from the port into the rest of the country, it means the roads will be freed up. If you upgrade your systems, it will impact the rest of the city and force the rest of the city to upgrade its roads, there will be more hotels and businesses,” Block said.
Belgian Ambassador to Nigeria, Daniel Dargent, added that Belgium is ready to assist Nigeria and West Africa in general, in the area of expertise to develop connectivity in the railways and ports.
“Connectivity is important. You need to transfer your goods and passengers in good time. If you produce agricultural products in the northern part of Nigeria, and you cannot transport them by road or rail to the port to export them, then you lose a lot.
“Nigeria is a large country with over 200million inhabitants or even more. So, we need to organise the exchange of goods and if you don’t have the connectivity, everything will be damaged. Apart from agricultural products, we have industrial products; and this connectivity is key for development,” Dargent said.
Group Managing Director of Grolla Port Services, the exclusive DMG partner for WA-PoRa, Graham Lawal, said besides the infrastructure development, the government must also encourage private investors to invest heavily in rail networks in Nigeria and West Africa.
Lawal said the big businesses are still being done by the governments, and until private sector can put down $1.5 billion for new rail networks across Africa, then government will not stop relying on foreign loans to enhance the infrastructure.
NGpatriot: You are not against the program, but clearly asserted that nobody wants another government or taxpayers subsidized program even though you're didn't conduct any survey or poll before arriving at that lame and misguided conclusion.
You are not only against the program, you are also convinced that every soul in Nigeria is against the program. It's either you are confused or you just don't read over the things that you type and post.
If you're going to discredit anything, do the most basic thing by stating with credible facts and reasoning why it's a bad idea instead of saddling us with your own personal conclusions and what I want or don't want.
You're still arguing idioticly. Your 1st paragraph assumes I meant literally everyone. Only a five year old takes basic phases at face value. You spent two paragraphs arguing this dumb point because you couldn't answer simple questions. Stop replying me mentally challenged retorts that answer nothing. Just argue the economics of the government policy. If you dont have the intelligence just let someone else do it.
• The government hasnt indicated how the much ranchers will pay to cover services. I do t see how its fiscally sustained with tax payers front most of cash. If its like BLM in USA it would be ok at best but it should be improved upom.
• It doesn't make sense to dump billions in crony corporate welfare. You said yourself you want IGR so these guys need to be able to economicly justify the money spent on them. It's that simple.
• if we doing all this will Nigerians get option to import beef again?
grandstar: Arguing with Blue3k won't do you any good as he is actually an economist. That's what he studied. He isn't speaking out of hatred but just stating the truth. It is like condemning a Mathematician for saying 1+1 =2.
These clowns something something's else. Its all emotional nonsense saying you hate them and country for daring to disagree with them policy positions.
NGpatriot: Guess you prefer for taxpayers money to be looted instead of using it to create jobs for your people,, modern agric infrastructure and strong IGR base to benefit you and your people.
And when other states and region taps into the plan and massively succeeded, it's going to be noise all over the place about maginalizatiom after maginalizing yourself.
Sadly, you people are always the sad recipients of your hatred and bitterness.
Your 1st paragraph is stawman answers nothing. You second is just wishful scenario which isnt an argument against anything I said. To sum everything up you spent 3 rambling nonsense because you cant answer basic questions about economics of policy. Just answer questions in future or let someone with intelligence do it.
• I didnt say I was against your state keying into program.
omohayek: It’s too bad very few Nairalanders have the requisite understanding of economics to appreciate just how much ignorant nonsense Emefiele has spewed on here. To think that the likes of Okonjo-Iweala and Adeshina are passed over for the role in favour of this utterly incompetent, grovelling sycophant! Worse yet is that his reappointment was met with applause by the numerous semiliterate tribalists who think all that matters in who gets appointed where is that the person is from their region, even the appointee’s competence will have a far greater bearing on their personal lives ...
Lol these long form interviews are always great. You get to see where their head is at. Everyone believed Buhari was twisting his arm but it's not the case. The guy came out to defend his boss unprompted.
I will say that to honest, we would aggressively go more into the list of items that are being imported into the country, items that can be produced in Nigeria.
The list will expand as he plainly states. It'll be pretty interesting to see what he picks next.
There are certain anomalies in the process leading to the award of that contract which is currently being looked into by the EFCC and I believe that the EFCC themselves have their own investigation reports about that.
So, we will follow through and aggressively too on ensuring that the execution of that judgement is stayed and that the appeal succeeds at every level both within Nigeria and abroad.
Let's hope the contract fraudulently awarded or something. Maybe Nigeria can weasel its way out this. The monetary and fiscal policy will definitely be disrupted violently. Rumor has it they'll go after eurobond custodians distupting foreign debt payments. Lol doomsday is forming if lawyers fumble this case.
Mr President has made this comment purely to strengthen the position of the CBN, to say that he believes in what the CBN has been doing since 2016 and there is need for us to reinforce that going forward.
Straight from the horses own mouth Buhari didnt force him to do anything. These are type of policies he's been doing and continue doing. These two have always been on same page.
PS: notice nobody is claiming the UK doesn't have jurisdiction like some people argued they didnt.
I have heard some comments that maybe it’s about the CBN’s source, it is not the CBN’s source, we are saying you will not be able to access foreign exchange from the Nigerian banking industry.
Now they'll have to run to black market or overaeas to source forex. Man this going to fun. Expect the price of bread and fish to spike up in particular. Nigerians generally import wheat and certain kinds of fish. Food processors will just have end consumer eat the extra cost.
Today we are complaining that there is a high rate of unemployment, leading to some extent the level of insecurity in the country, why should we allow people to import food that can be produced in the country?
CBN’s management foreign exchange policies that we started since 2016. If you recall, we started with about 41 items (food and non-food items), because we believe that those items can be produced in the country.
Lol its funny he doesn't mention the unemployment rate has been climbling while his bans were place. Nigeria has a stagnant economy, rising unemployment, high inflation and raising cost of production. The craziest thing about all this food inflation is highest in CPI.
A recent British court ruling affirming that Nigeria owes and should pay a foreign firm $9 billion (about N3.2 billion) could affect Nigeria’s monetary policy, the Central Bank governor, Godwin Emefiele, said on Monday.
Mr Emefiele spoke in an interview with journalists at the State House during a retreat for new ministers.
PREMIUM TIMES reported how a British court ruled against Nigeria’s appeal of an arbitration ruling in favour of the foreign firm.
The British court ruled against Nigeria’s objection to arbitration that ruled in 2017 that the Nigerian government should pay $6.6 billion as damages to a company, Process & Industrial Development Limited (P&ID).
The money with interest has now accumulated to about $9 billion (approximately N3.24 trillion), over one-third of Nigeria’s 2019 budget.
P&ID has already signified its intention to target Nigerian assets in order to satisfy the judgement.
The Nigerian government on Friday described the judgement as “completely wrong and obviously unjustifiable.”
On Monday, Mr Emefiele said the government would strongly challenge the judgement which could have an implication on Nigeria’s foreign reserves.
“We know that the implication of that judgement has some impact on monetary policy and that is why the CBN is going to step forward and very strongly too to ensure that we defend the country and defend the reserves of the Federal Republic of Nigeria.”
The CBN governor also spoke on the African free trade agreement and other matters.
Read the full interview below.
Q: You are not one of the new ministers, what brings you here?
Emefiele: Yes, I am not one of the ministers but as one of the senior government officials in the area of policymaking, we have also been invited to come and join the ministers designate in listening to Mr President about the policy thrust for the next four years. I think this is a very brilliant initiative because what it will do is that it will set the focus, everybody will know what the assignments and responsibilities will be in specific terms between now and the next four years. I am here because as a member of the monetary policy authority, it is part of the attempts for collaboration between the monetary and fiscal authorities in Nigeria.
Q: How far have you gone with the implementation of the directive from Mr President not to give Forex to food importers?
Emefiele: Let me say this, Mr President’s comment on the issuing of forex to people who import food items into the country, is in the logic of CBN’s management foreign exchange policies that we started since 2016.
If you recall, we started with about 41 items (food and non-food items), because we believe that those items can be produced in the country.
As we stand today, there are about 43 items on that list and I will say substantially most of them are food items. We are basically saying if we have a food item that can be produced in the country, why should we waste scare foreign exchange importing those items into the country, when those can be produced in the country.
It is important for me to say that the attempt to misrepresent the comments of Mr President is very unfair and unfortunate. But, what we will say from the CBN is that Mr President has made this comment purely to strengthen the position of the CBN, to say that he believes in what the CBN has been doing since 2016 and there is need for us to reinforce that going forward.
I will say that to honest, we would aggressively go more into the list of items that are being imported into the country, items that can be produced in Nigeria.
I will like to stress that we would ensure that more of these items will get on the list of items that are going to be restricted from accessing foreign exchange in Nigerian banking industry not just from the CBN source. Because, I have heard some comments that maybe it’s about the CBN’s source, it is not the CBN’s source, we are saying you will not be able to access foreign exchange from the Nigerian banking industry because it is important for us to produce these items in Nigeria and we will follow through on them.
Q: So you saying there will be no amendment to this policy?
Emefiele: There will never be an amendment because the issue is this, why should we be exporting jobs to other countries? Today we are complaining that there is a high rate of unemployment, leading to some extent the level of insecurity in the country, why should we allow people to import food that can be produced in the country? We need to improve wealth in our rural communities and I am saying we will not change course, we will even be more aggressive on this Programme.
Q: What sort of impact do you hope to make at this event?
Emefiele: Mine is just to listen and see who what we are doing at the CBN’s monetary policy side, is in tandem with what the fiscal authorities are also coming up with. But I know certainly there are because all we are saying is that Nigeria yearns for growth, for improved level of employment in this country and I know at the end of this Programme, everybody will be on board to say we must reduce the level of unemployment in Nigeria, we must grow this country and must increase productivity and output in Nigeria.
Q: It was reported at the weekend that Nigeria is about to lose as much as $9bn of its reserves as a result of a judgement debt in London on Friday. Are you not scared of losing so much from your forex reserves?
Emefiele: I am not scared at all and I think it is also important that this question has come up. Since the news about the judgement broke out late on Friday, we have been discussing with our counsels, and they have advised that there are sufficient and strong grounds on the basis of which we could file a stay of execution and also an appeal against that judgement. There are certain anomalies in the process leading to the award of that contract which is currently being looked into by the EFCC and I believe that the EFCC themselves have their own investigation reports about that.
So, we will follow through and aggressively too on ensuring that the execution of that judgement is stayed and that the appeal succeeds at every level both within Nigeria and abroad.
It is important for me to use this opportunity to assure our friends, local and foreign investors who called to expressed solidarity with us, not to express concern but to say that there is no need for anybody to worry. We know that the implication of that judgement has some impact on monetary policy and that is why the CBN is going to step forward and very strongly too to ensure that we defend the country and defend the reserves of the Federal Republic of Nigeria.
Q: Won’t the president’s directive affect the Africa Free Trade Continental Area Agreement Nigeria just subscribed to?
Emefiele: It will not affect the content of the AfCFTA, in any case the AfCFTA is an agreement that is ongoing, the terms of engagement are still being discussed and negotiated. The important thing is that Nigeria needs to stand as the largest economy in Africa and the largest populated countries in Africa, we need to stand and dictate the terms under which we want to be in it and this is what we are staying. But what I am saying is that it is wrong, it is inappropriate that an item that can be produced in Nigeria should be imported into Nigeria. When we get into the AfCFTA issues we will also look at the details of it, but at this time we are saying we need to create jobs for our country, for the youths and we need to create jobs, we yearn for growth and the only way we can really accelerate growth in a Nigeria between now and next four years is to see to it that items that can be produced in Nigeria are indeed produced in Nigeria rather than being imported into the country.
Operation Albacore IV, a joint operation between Sea Shepherd and the Gabonese government to tackle illegal, unreported and unregulated (IUU) fishing in Central West Africa, the crew of the Sea Shepherd ship, Bob Barker, assisted authorities from the Republic of Gabon with the arrest of an illegal fishing trawler caught inside the Grand Sud du Gabon Aquatic Reserve.
That's all well and good but you're still subject to scrutiny. I read the article its New York city not New State or federal government. It seems like either steal DNA via intimidation tactics or regular means via investigation.
Nigeria should start taking illegal fishing seriously like Gabon by arresting these illegal fishers. If this was done we would reduce fish imports and save the precious forex without a bunch bans and restrictions.
https://wildaid.org/wp-content/uploads/2019/08/Picture4.png An eco ranger holds up a monkey carcass found in abandoned nets. Like others, he also had to confront his family about illegal fishing. After warning his father on several occasions to avoid fishing in a restricted zone, he had to confiscate the family’s pirogue and motor.
Originalsly: Bro... he is talking as if forensics is magic! Personally..... they need to begin by cleaning up corruption in the PD .... get whatever forensic equipment... it will be misused.
These guys have bad habit of parroting eachother. Im guessing its the crime show dramas that give people warped view of how these processes work. I agree the police always need to be watched.
Politics › Re: To Stifle Boko Haram, Nigerian Army Burns Down Four Fish Vehicles by Blue3k(op): 1:46pm On Aug 24, 2019*. Modified: 2:36pm On Aug 24, 2019
