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Naira redesign: Malami and Emefiele misled Buhari to assume powers of an emperor, says Akeredolu

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Rotimi Akeredolu, the governor of Ondo state, has asked the federal government to obey the supreme court ruling on the implementation of the naira redesign policy.

On Friday, a seven-member panel of the apex court held that the old N200, N500 and N1000 notes remain legal tender until December 31, 2023.

The ruling overturned the Central Bank of Nigeria’s directive, which President Muhammadu Buhari had backed. The president had maintained that old N500 and N1,000 notes were no longer legal tender, with April 10 fixed as the deadline for N200.

Akeredolu, in a statement issued on Friday, said the decision of the apex court is in tandem with Ondo state’s position on the issue.

He said Godwin Emefiele, CBN governor, and Abubakar Malami, the attorney-general of the federation (AGF), “misadvised” the president to “assume powers of an emperor”.

“We salute the industry and courage of the Justices of the Supreme Court for the well-considered ruling,” Akeredolu said.

“The CBN Governor and the Attorney General of the Federation and Minister of Justice misadvised the President to assume powers of an Emperor answerable only to himself and no other authorities as enshrined in the law.”

The governor lamented that small businesses are collapsing at an alarming rate.

“We have been regaled with tales of the dehumanisation of ordinary Nigerians who have been forced to strip themselves naked in banking halls weeping to be given their monies kept with the banks. Some have lost their lives, needlessly, for being unable to access their deposits in the banks upon demand,” he said.

“The Governor of the CBN acted most irresponsibly when he claimed to be exercising powers, which the CBN Act does not invest in his office.

“He was quoted as saying that he was fighting corruption, money laundering and vote-buying. He acted, ultra vires, goaded by his political permutations.

“The AGF equally misled the President to act beyond the limits of his executive powers. Nigerians have been punished unduly.

“As the Supreme Court has pronounced, the law must be allowed to rule. There are statutory functions allotted to bodies in the 1999 Constitution, as amended.”

If those in positions of authority embrace less mischief, Akeredolu said, the letter of the law is straightforward and understandable.

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Nigeria’s GDP rate grew by 3.46% in Q3 2024, says NBS

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The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) grew by 3.46 percent in the third quarter (Q3) of 2024.

The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.

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Dangote refinery reduces ex-depot price of petrol to N970 for oil marketers

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The Dangote Petroleum Refinery has announced a reduction in its ex-depot price of premium motor spirit (PMS), also known as petrol, to N970 per litre for oil marketers.

This is a cut from the refinery’s N990 ex-depot price announced earlier this month, according to a statement on Sunday.

The slash would help marketers save about N20 on each litre of petrol bought from the Lekki-based plant.

Anthony Chiejina, Dangote Group’s chief branding and communications officer, said the move is the refinery’s way of appreciating Nigerians “for their unwavering support in making the refinery a dream come true”.

“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement reads.

“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.

“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”

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Allegation of missing fund untrue, says Access Bank

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Access Bank Limited has dismissed as untrue allegations of missing fund and unethical behaviour.

The Bank in a statement said: “Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behaviour have been made against Access Bank PLC.

“First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behaviour.

“In the instant case, the allegations of missing funds in the Bank are most untrue and baseless.

“There is no N500million or any other fund or amount missing from the subject customer’s account or from any other customer’s account with us.

“We and other independent stakeholders in the banking industry have thoroughly investigated these allegations and independently arrived at the same conclusions.

“Access Bank PLC operates with the highest ethical standards, and we protect our customers’ interests whilst also respecting privacy laws.

“Consequently, whilst we have engaged and will continue to engage with our customers, we must advise the public not to rely on or believe sensational and unverified claims that are designed to titillate and mislead the public.

“We remain committed to serving our customers.”

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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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