Tag: News Of The Week
The Nigerian Senate has given the green light to the Central Bank of Nigeria (CBN) Act Amendment Bill, propelling it to the second reading.
Spearheaded by Senator Tokunbo Abiru and supported by 41 committee members, the bill seeks pivotal revisions to the outdated CBN Act of 2007.
Senator Abiru, Chair of the Senate Committee on Banking, Insurance, and other Financial Institutions, underscored the imperative need for amending the antiquated 2007 Act.
He emphasized the call for synchronization between monetary and fiscal policies to confront challenges arising from fiscal dominance and the dynamically evolving financial landscape.
The proposed amendments introduce a Coordinating Committee for Monetary and Fiscal Policies, featuring key figures such as the Minister of Finance, Minister of Budget and Economic Planning, Minister of Industry Trade and Investment, among others.
This committee aims to establish consistent targets for policies that effectively control inflation and foster sustainable economic growth.
Noteworthy recommendations encompass a six-year single term tenure for the CBN governor and deputy governors.
External directors are slated to serve a non-renewable five-year term, with at least one deputy governor position reserved for a career staff from within the Bank.
The bill also advocates for the establishment of the office of a Chief Compliance Officer, holding the rank of a Deputy Governor, reporting directly to the Board.
This officer may be summoned to appear before the relevant committee of the National Assembly when deemed necessary.
In addressing the critical issue of Ways and Means, the bill proposes capping the advances the CBN can grant the Federal Government to 10% of average government actual revenues over the preceding three years.
Temporary loans are to be repaid within three months, with outstanding amounts at the end of the credit period recovered from the Federal Government’s FAAC Receipts.
Concurrently, the Senate Committee on Banking, Insurance, and other Financial Institutions screened four CBN director candidates: Mr. Robert Agbede, Mr. Ado Yakubu Wanka, Prof. Muritala Saba Sagaji, and Mrs. Muslimat Olanike Aliyu.
This comprehensive bill reflects a steadfast commitment to modernize the CBN’s framework, harmonize policies, and instill accountability in financial governance.
In a birthday reflection shared on Ikorodu News Network, renowned Nigerian boxer Bash Ali revealed the triumph of persistence over a 17-year struggle to host his Guinness World Record Boxing Championship Fight in Nigeria.
Today, on his birthday, Bash Ali looked back on a journey marked by resilience against corruption in sports.
For nearly two decades, Bash Ali faced financial hardships, transitioning from a millionaire in dollars to what he termed a “zeronaire” in naira.
The road to realizing his dream was fraught with physical challenges, including beatings and injuries that led to two admissions at the National Hospital, Abuja.
Additionally, he experienced detention eight times at various police stations in Abuja, enduring a 43-day stay at Kuje Prison.
Bash Ali’s ordeal, as he clarified in his post, was not a consequence of criminal behavior but a principled stand against corruption in sports, particularly within Nigeria.
Despite enticing offers to take his fight outside the country, he held steadfast to his dream of hosting the championship in Nigeria and remained committed to the nation.
In a celebratory tone, Bash Ali announced that his long-pursued dream is now on the verge of becoming a reality.
Undeterred by the challenges, he declared his intention to continue boxing until the age of 70, with the goal of retiring young, healthy, and financially secure.
Furthermore, Bash Ali shared an extraordinary ambition: to transition from a boxing legend to the presidency of Nigeria.
Ikeja Electric Plc (IE), Nigeria’s leading electricity distribution company, has embarked on a pioneering collaboration with the Lagos State Waste Management Authority (LAWMA) to promote sustainable waste management practices.
In a significant move, IE has donated waste bins to eighteen carefully selected primary and secondary schools within its operational jurisdiction, signaling a concerted effort to cultivate environmentally conscious communities.
The official handover ceremony, held recently, saw Dr. Muyiwa Gbadegesin, Managing Director/CEO of LAWMA, expressing gratitude to Ikeja Electric for spearheading this impactful initiative.
Dr. Gbadegesin underscored the pivotal role of waste disposal through these bins in the overall waste management cycle and expressed optimism that other entities within the state would follow suit in adopting similar initiatives as part of their corporate social responsibility.
Providing insights into the broader state initiatives, Dr. Gbadegesin highlighted ongoing efforts by the government, including the introduction of smart bins and collaborations with the Ministry of Education to integrate waste management into the school curriculum.
This strategic approach aims to instill sustainability awareness in students, nurturing a generation of environmentally conscious individuals.
Mr. Kingsley Okotie (MNIPR), Spokesperson and Head of Corporate Communications at Ikeja Electric, emphasized the significance of the initiative.
Executed with unwavering support from the company’s Board and Management, in collaboration with the Employee Volunteer Scheme/Give Back Always team, this Corporate Social Responsibility intervention seeks to instigate sustainable waste disposal practices among the younger generation.
Okotie highlighted the importance of waste classification, reuse, recycling, and reduction in achieving a more sustainable waste management approach.
He expressed confidence that educating children on the proper use of the donated waste bins would instill a consciousness about the opportunities within the entire waste-to-wealth management cycle.
Among the beneficiary schools are Ayetoro Primary School, Bariga; Ayobo Primary School, Ayobo; Oke-Ira Junior Grammar School, Oke-Ira; Ajao Estate Primary School, Ajao Estate; Ebenezer Primary School 1, Ojokoro, and Unity Junior College, Agege. These schools are spread across Ikeja Electric’s six business units in Ikeja, Shomolu, Oshodi, Akowonjo, Abule-Egba, and Ikorodu.
Driven by a commitment to redefine customer experience and be the energy provider of choice, Ikeja Electric continues to demonstrate its dedication to powering lives and businesses with innovation and an unwavering drive for excellence.
This commitment inspires exceptional service delivery and innovative thinking across the IE network.
In his latest work, “CONFESS AND REPENT,” author Evans O. Gibson delves into the profound themes of confession and repentance as outlined in Psalm 51.
Drawing inspiration from the timeless words of David, Gibson emphasizes the transformative power of admitting guilt and seeking forgiveness.
The heart of the message lies in the exploration of Psalm 51, where David’s plea for mercy sets the stage for a journey of confession and repentance.
Gibson highlights the biblical model presented by David, illustrating the depth of cleansing and restoration available to all who sincerely seek it.
The initial verses of Psalm 51 capture David’s heartfelt plea for God’s unfailing love and mercy, setting the tone for a soul-searching experience.
The subsequent sections of the psalm reveal David’s unreserved admission of wrongdoing, devoid of excuses or justifications.
Gibson underscores the sincerity of David’s confession, noting that it extends beyond transgressions against others to a recognition of sin against God Himself.
As the narrative unfolds, the author guides readers through the stages of David’s journey—seeking cleansing, admitting faults, and petitioning for restoration of intimacy with God.
The emphasis on the source of true joy and sustainable strength resonates throughout, offering a compelling perspective on the profound impact of confession and repentance on one’s spiritual well-being.
The message concludes with a powerful call to action, echoing David’s commitment to share the path of repentance with others.
Gibson emphasizes the communal aspect of redemption, encouraging readers to consider how their own confession and repentance can contribute to the restoration of God’s people.
“CONFESS AND REPENT” not only serves as a literary exploration of Psalm 51 but also invites readers to introspect.
Gibson prompts individuals to ponder their routines of confession and repentance, challenging them to align with the transformative principles presented in the psalm.
In a world often marked by distraction and busyness, “CONFESS AND REPENT” by Evans O. Gibson stands as a poignant reminder of the enduring relevance of biblical wisdom, urging readers to reflect on their spiritual journey and embrace the liberating power of confession and repentance.
Sponsored
INN 
You must be logged in to post a comment.