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‘Nigeria’s financial system was rotten’ — Tinubu speaks on Emefiele’s suspension

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1 year ago

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President Bola Tinubu says the country’s financial system in the hands of Godwin Emefiele, the suspended governor of the Central Bank of Nigeria (CBN), “was rotten”.

Earlier in the month, Tinubu suspended the CBN governor and ordered a probe of his office.

Since then, Emefiele has been in the custody of the Department of State Services (DSS).

Speaking at an interactive session with Nigerians in Paris, France, the president said measures are being taken to address the alleged irregularities done by Emefiele.

“Then the financial system was rotten,” Tinubu said.

“Few people make bags of our money and then you yourself, you stopped sending money home to our poor parents. Several windows… but that is gone now, is gone.

“The man is in the hands of authorities, something is being done about that, they will sort themselves out.”

Tinubu said the subsidy on petrol needed to go because it was making a few people rich.

“They thought it was the joke of the century until I called NNPC. We are tired of feeding smugglers, making a few people rich, and subsidising the next-door neighbour,” the president said.

“I met with the president of the Benin Republic today. Everybody is equal now, we are friends. We are conjoined twins joined by the hips, how we will separate each other is with this fuel subsidy.

“Let us see whether we will survive or not but we are going to survive you.”

The president also said the federal government was working to make provisions that would cushion the effect of the removal of the subsidy.

“You want money to increase palliative, transportation. What are you protesting about? Are you sharing part of the subsidy? If you protest, I will join you and protest against it. And they stopped. No protest,” he said.

“Palliative we will get but we have to save the money in order to embark on a palliative [measures].”

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

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5 hours ago

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November 25, 2024 1:29 pm

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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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Business

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

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7 hours ago

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November 25, 2024 11:01 am

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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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Business

Allegation of missing fund untrue, says Access Bank

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9 hours ago

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November 25, 2024 9:16 am

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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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