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Sanwo-Olu says Eko Rice is the best as Lagos Rice Mill is set to create 250,000 jobs

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The Lagos State Governor, Babajide Sanwo-Olu, has described the Eko Rice from the just commissioned Lagos Rice Mill in Imota as the best in town.

This is as President Muhammadu Buhari has commended the governor for the state government’s revolution in the agriculture sector, especially in rice production, saying that he is doing well.

This was made known by Governor Sanwo-Olu, during the inauguration of the Lagos Rice Mill in Imota, the largest rice mill in Sub-Saharan Africa and fourth largest in the world by President Buhari on Monday, January 23, 2023.

President Buhari, who saw the rice pyramid, was taken around the factory and warehouse, where the rice production is being carried out by Governor Sanwo-Olu, Commissioner for Agriculture, Ms. Abisola Olusanya; Special Adviser to the Governor on Rice Mill Initiative, Dr. Oluwarotimi Fashola and some members of the State Executive Council and traditional rulers.

Speaking during the tour of the facility, Governor Sanwo-Olu said Eko Rice, which is proudly Nigeria, is the best in town.

He said, “Mr. President, this is the result of your rice revolution. This rice is called Eko Rice, proudly Nigeria. It is the best in town now.’’
Governor Sanwo-Olu while addressing people after the inauguration of the Lagos Rice Mill by President Buhari, said Lagos is ready to support the rice revolution and food revolution in Nigeria.

Sanwo-Olu said, “The President is really delighted to be here to commission the largest rice mill in entire sub-Saharan Africa and one of the largest in the world, the Lagos Rice Mill in Imota.


“It is being done because of the agricultural revolution of Mr. President, who when he started his government, said Nigerians should grow what they eat and they should eat what they grow.
“We are happy that Lagos is a testament to that. With 2.8 million bags of 50kg rice per annum, Lagos is ready to support the rice revolution and the food revolution in Nigeria.
“The Lagos Rice Mill will create close to 250,000 direct and indirect jobs. We want to thank the local community of Imota, Ikorodu. We want to thank all of you that have waited patiently. Mr. President is indeed excited that you have birthed another first in Nigeria and in sub-Saharan Africa.”

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Stallion Nigeria debunks owing GTB N13 billion

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Stallion Nigeria Limited has denied owing Guaranty Trust Bank (GTB) N13 billion.

Reacting to reports in a statement signed by Samar Sapre, chief financial officer of Stallion Nigeria, the company said: “Our attention has been drawn to an article circulating around in the media alleging that Stallion is indebted to GTB to the tune of N13 billion. The publication is false and the works of mischief makers as no such debt exists.

“Stallion has been in court with GTB since 2019 over allegations and claims with Stallion winning against GTB at the Court of Appeal, Nigeria. The matter is yet in court and to that extent remains subjudice.

“As a law-abiding corporate entity with faith in the Nigerian judiciary, we refrain from commenting on a matter that is subjudice except to clarify that the publication is false, mischievous and a ploy to smear the unblemished reputation of Stallion.

“We implore the general public to ignore the publication as there is no such court verdict existing anywhere as alleged in the publication. The matter is still pending in court.”

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Kaduna CAN chairman calls for arrest of bank officials over cash scarcity

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Joseph Hayab, chairman of the Kaduna chapter of the Christian Association of Nigeria (CAN), has called for the arrest and prosecution of bank officials hoarding the new naira notes.

His statement came amid the scarcity of the new naira notes across the country — a situation that is heightening tension and causing hardship for Nigerians.

Hayab, who spoke in Kaduna on Sunday, commended President Muhammadu Buhari on the direction of the policy aimed at deterring vote buying.

The cleric said the Central Bank of Niger(CBN) should do everything possible to make the currency available to end the hardship.

“Notwithstanding CAN believe that despite the temporary pains Nigerians face, the citizenry is prepared to support the president on the matter of the deadline, especially if it would assist to ease the tension in the country,” he said.

“Therefore, managers of banks who are found to hoard the new naira notes to create artificial scarcity, but are behind the public arena helping money-bag politicians to get the new notes, set the public up against the CBN’s new policy.

“Such banks and bankers should be investigated, and if found culpable, be made to face the wrath of the law.

“CAN will continue to sensitize and mobilize our faithful to support any programme which results could bring about good service delivery for a better nation.”

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‘Bank officials sell naira notes to us’ — PoS operators explain increase in charges

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Point of sale (PoS) operators have claimed that bank officials sell cash (both old and new naira notes) to them.

In separate interviews with NAN in Abuja on Friday, some of the operators said they pay an exorbitant fee which depends on the amount withdrawn.

To make up for the extra expense, they explained that they had no choice but to increase the charges paid by customers.

They further appealed to the Central Bank of Nigeria (CBN) to penalise banks involved in the act.

An operator along Nyanya-NNPC road, who preferred anonymity, said she paid the extra charge to keep her business going.

”I paid a very high amount to get this money that I am giving to customers. If you look around here, other operators did not open,” she said.

”The woman (bank official) that I collect money from even increased the money today because she said that cash is scarce and she kept it for me because I called her earlier to do so.

”I pay according to the amount I collect. Sometimes, I pay as high as N5,000 for N50,000 to N70,000 that I collect from her.

”I charge N500 for every N5,000 withdrawn and N1000 for every N10000 withdrawn for me to recover what I spent to collect the money.”

Also speaking, Nnedi Ikonye, a PoS operator along Lugbe, said she paid N3,000 for withdrawing N65,000 in a bank.

”I was asked to pay N3,000 for the N65,000 that I withdrew from a bank and that is because I know someone in that bank,” Ikonye explained.

“That is just a token compared to what my colleagues are paying. They pay more because they don’t know people in the bank.”

Alphonsus Idah, a PoS operator at Mararaba market, urged the CBN to impose sanctions against banks who persist in selling cash to their customers.

This, he explained, would stop the untold hardship faced by citizens.

Another PoS operator, who pleaded anonymity, alleged that bank officials usually withdraw money for their clients.

“In some banks, ATM will not work even though they are loaded with cash,” the operator said.

“During close of work, the bankers will turn the machine on and queue to withdraw from the machine.

“The annoying thing is that one banker can hold like 10 different ATM cards and will withdraw from all of them. This is frustrating.”

In a bid to address long queues at automated teller machines (ATMs), the CBN had directed banks to commence payment of redesigned notes over the counter, with a daily limit of N20,000.

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