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Naira redesign: 10 states to file contempt charges against FG and CBN over non-compliance

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Some state governments are planning to initiate contempt proceedings against the federal government and the Central Bank of Nigeria (CBN) over their non-compliance with the supreme court judgement on the naira redesign policy.

Last week, the supreme court ruled that the old N200, N500, and N1,000 notes remain legal tender till the end of 2023.

Following the judgement, some banks have been giving the old notes to customers but the banks insist that customers fill out a form on the CBN portal before the old notes can be deposited.

Traders, motorists, and business owners have also refused to accept the old naira notes in anticipation of official approval from the CBN or President Muhammadu Buhari.

On Friday, the governments of Kaduna, Kogi, Zamfara, Ondo, Ekiti, Katsina, Ogun, Cross River, Lagos and Sokoto states served Abubakar Malami, attorney-general of the federation, the enrolled order and certified true copy (CTC) of the supreme court judgement.

Abdulhakeem Mustapha, counsel for Kaduna, Kogi and Zamfara states, said that he expected immediate compliance with the judgment as the non-service of the documents had given the government and the CBN an escape route.

“The Attorney-General of the Federation has been served now and we will take it up from there; if there is no compliance now, we will commence committal proceedings against the attorney-general and the CBN governor,” Mustapha told ThePunch.

“When the Supreme Court talks, the constitution makes it compulsory for all government representatives and everybody to comply with its order. It’s not discretional, you have to obey, it is the last and the final and that is why we have separation of power.

“The presence of separation of power is for checks and balances; when the Supreme Court talks, it must be complied with by all persons.”

Business

You’re hired! How to dress for a job interview

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As crucial as skill set and qualification for a job opening are, interview candidates should also bear in mind the importance of dressing right.

The first thing an interviewer takes note of is how a candidate is dressed.

And while the issue of dressing formally might be debatable for certain job structures, it is still important to dress smartly as no one ever goes wrong doing so.

It should, however, be noted that a candidate must understand what the hiring company requires of them in terms of dressing, taking into consideration the location, company type and the industry.

The question now becomes, how can one be best dressed for a job interview?

For women
As women are likely to have more styling complications than men, the number one rule when dressing for a job interview in any industry is minimalism. Every clothing item should be kept simple and smart with simple accessories.

Generally, the choice of a blouse should be one that is well coordinated, simple and mostly sticking to basic colours.

Matching skirts, dresses, trousers or suits should also stick to basic colours.

When accessorising, it is important to keep it simple. Opt for studded earrings, simple shoes, necklaces, and bags that are big enough to contain important documents.

Hairstyles should be kept simple and neat while makeup should be light and as natural as possible.

Nails should be well-groomed and very importantly, smell nice.

Smelling nice does not mean chocking your interviewer with heavy cologne.

For men
Some HR experts believe men should stick to suits for interviews but depending on the company and industry, wearing a shirt might be sufficient.

Try as much as possible to stick to basic solid colours like white, blue, and grey as opposed to heavily-patterned shirts.

Make sure your outfit is well-ironed and your shirt is properly tucked in. Also make sure to go for trousers in basic colours.

For men sporting elaborate hairstyles and beards, it is important to schedule a barber’s appointment before the interview to get properly groomed.

Ties and socks should also stick to solid basic colours. Make sure your nails are properly manicured and use little or no jewelry.

Carrying a briefcase, portfolio or backpack might be a plus.

Note: An advantage of dressing correctly for an interview is that it boosts your confidence and presents you as a serious candidate.

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Naira depreciates marginally at parallel, official markets

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The naira depreciated to N1,495 per dollar at the parallel section of the foreign exchange (FX) market on Friday.

The current rate represents a drop of 0.33 percent from the N1,490/$ traded on June 19.

Speaking to TheCable in Lagos, currency traders, also known as bureau de change (BDC) operators, quoted the buying rate of the greenback at N1,460 and the selling price at N1,495 — leaving a profit margin of N35.

At the official window, the local currency depreciated marginally to N1,485.53/$ on Friday — from N1,485.36/$ on June 20.

According to FMDQ Exchange, a platform that oversees the official FX trading in Nigeria, the dollar exchanged for as high as N1,505 and as low as N1,401, during trading hours.

The daily FX market turnover stood at $193.50 million.

On June 14, 2023, the Central Bank of Nigeria (CBN) announced the unification of all segments of the FX market.

Owing to the devaluation of the naira, there have been consistent fluctuations in the FX market.

The FX situation, according to Timi Bomodi, comptroller of Seme command, Nigeria Customs Service (NCS), on June 9, has made Nigerian goods affordable for African countries.

However, Mojisola Adeyeye, director-general, National Agency for Food and Drug Administration and Control (NAFDAC), on May 29, said the devaluation of the naira accounted largely for the high cost of local medicine production.

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‘To promote trade, tourism’ — Zamfara begins construction of international airport

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Dauda Lawal, governor of Zamfara, says the state has started constructing its international airport to promote trade and tourism.

Lawal spoke on Thursday when Festus Keyamo, minister of aviation and aerospace, officially unveiled the construction work on the Gusau International Airport, according to a statement issued by Sulaiman Bala Idris, the governor’s spokesperson.

He said the project is intended to be a smart airport designed to accommodate domestic and international flights.

The governor said the airport project would include the construction of a 3.4 kilometre primary runway suitable for large commercial aircraft, installation of runway lighting, and navigational aids.

Lawal said his administration is determined to transform the state into a compelling investment destination that would attract both local and international investors.

“Honourable minister, guests, ladies, and gentlemen, the airport will have a modern terminal building with passenger facilities, including check-in counters, automated baggage handling systems, waiting areas, and customs and immigration services buildings,” the governor said.

“This is in addition to an air traffic control tower equipped with state-of-the-art communication and surveillance systems.

“Further, it will include the construction of maintenance hangars, fire and rescue stations, fuel storage facilities, and other ancillary buildings, access roads to the airport, parking facilities for passengers and staff, water supply, sewage, electrical systems, and telecommunication infrastructure.

“There will also be a cargo wing and the landscaping of the airport surroundings to enhance the project’s aesthetic appeal.

“It will have the capacity to land most aeroplanes. It is intended to facilitate more accessible and more efficient travel to and from Zamfara state, promoting social interaction, business and tourism.”

Lawal said the project will be handled by Triacta Nigeria Limited with JBI Tech Consult serving as the consulting firm and will be completed within 30 months according to the contractual agreement.

Speaking on the project’s economic benefits, Lawal said it would provide direct air access to the state, eliminating the difficulties businessmen and women face when exporting and importing goods and services.

In his remarks, Keyamo said the state had previously been disadvantaged in terms of facilities.

He said while other parts of the north-west have good airports, Zamfara has lagged despite being an agricultural hub of the zone.

“But it is better late than never. An international journalist called me and asked whether Zamfara needed an airport. I firmly believe that having an airport in Zamfara is more than just a matter of commercial viability; it is a crucial social amenity for the people,” Keyamo said.

“Looking around today, I am convinced that the state is fully ready for this development.

“I want to come here next year to flag off the Hajj operations. Intending pilgrims from Zamfara have suffered for many years in other states to board a plane to the Holy Land. It will never happen again.”

The minister reiterated his commitment to making the airport project a reality.

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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