Connect with us

General

Lagos Guber: Emefiele Not Involved in Politics or Supporting Gbadebo—CBN

Published

on

Godwin Emefiele Exchange Rate

By Dipo Olowookere

The Central Bank of Nigeria (CBN) has reacted to a report by a national newspaper alleging that its Governor, Mr Godwin Emefiele, was plotting to get back at the president-elect, Mr Bola Tinubu, by ensuring that the candidate of the opposition Labour Party (LP) in Lagos State, Mr Gbadebo Rhodes-Vivour, fondly called GRV, defeats the candidate of the ruling All Progressives Congress (APC), Governor Babajide Sanwo-Olu, on Saturday, March 18, 2023.

Mr Tinubu is believed to be in control of Lagos State, which is the commercial capital of Nigeria, since 1999, when he was elected as the governor of the state.

Though his term ended in 2007, according to reports, he has been actively involved in who leads the state, from Mr Babatunde Fashola (the current Minister of Works and Housing) in 2007 to former Governor Akinwunmi Ambode in 2015 and the incumbent Mr Sanwo-Olu, who now seeks another four-year term in office.

In the February 25, 2023, presidential election, Mr Tinubu, for the first time, lost Lagos State to the candidate of LP in the contest, Mr Peter Obi. This unsettled his camp and has put Mr Sanwo-Olu under pressure over fears that another protest vote could chase him out from Alausa this weekend.

Last year, Mr Emefiele attempted to clinch the presidential ticket of the APC but was stopped by the court, which held that he could not remain as the CBN chief and be involved in politics.

This fuelled calls for his resignation and cast doubt on his Naira redesign and cashless policies, which some politicians, including allies of Mr Tinubu, said were targeted at the president-elect.

Today, a newspaper with ties to Mr Tinubu published a story alleging that the apex bank boss was plotting to ensure the president-elect loses control of Lagos State in the governorship election this Saturday.

According to the report, Mr Emefiele has provided funds to the candidate of the Labour Party to prosecute the election and unseat the ruling party.

However, the acting Director of Corporate Communications of the CBN, Mr Isa Abdulmumin, refuted these claims, stressing that his boss is not partisan.

“The attention of the CBN has been drawn to a story published in The Nation newspaper of Monday, March 13, 2023, edition, alleging that the Governor, Mr Godwin Emefiele, has launched a fresh plot against president-elect.

“The aforementioned story went further to allege that the Governor has made a certain amount of money available to a candidate ahead of the March 18, 2023, gubernatorial poll.

“We wish to inform members of the public that this story is completely false and malicious as the CBN Governor does not know and has never met or even spoken with Mr Gbadebo Rhodes-Vivour, either in person or through a proxy.

“We wish to reiterate that the CBN Governor does not take part in politics and, therefore, urge anyone with contrary information to prove the Governor wrong by providing any facts.

“As such, the Governor and his team at the CBN should be allowed to focus on their assigned job with a view to achieving the statutory mandate of the bank,” the statement said.

General

Anambra Moves to Curb Erosion Menace

Published

on

erosion in anambra state

By Adedapo Adesanya

Anambra State Executive Council (ANSEC), under Governor Charles Soludo, has taken a bold step to address the pressing issue of erosion in the state, while also recovering government lands and awarding strategic projects aimed at boosting the state’s economy and improving the quality of life of its citizens.

The Commissioner for Information, Mr Law Mefor, made this known after the 25th ANSEC meeting held recently at the Lighthouse, Awka.

He revealed that the meeting noted with grave concern the existential threat posed by erosion in Anambra, citing the careless actions of communities and regulatory bodies that have disregarded environmental regulations.

“The council has decided to step up enforcement measures to force individuals to build and manage storm waters from their houses and for communities to follow specific guidelines, such as building erosion barriers and excavating sand only in designated locations,” Mr Mefor stated.

He emphasised that the government will not hesitate to take stern action against individuals and communities that fail to comply with environmental regulations.

To address the issue, the government will enforce strict adherence to environmental regulations, mandate the construction of erosion barriers and proper sand excavation practices, and collaborate with relevant agencies to hold those responsible for the erosion menace.

It is also confident that with the support of the people, it will overcome the challenges posed by erosion and achieve its vision of making Anambra State a destination where economic and business activities thrive.

Furthermore, the council has resolved to form a committee to reclaim government lands in and around Anambra State that have been intruded upon and built upon without permission.

“The government will not stand idly by while its lands are being grabbed and misused. We will take all necessary steps to recover these lands and ensure that they are used for the benefit of the people of Anambra State,” Mr Mefor said.

ANSEC has also awarded several strategic projects aimed at enhancing the state’s infrastructure development.

The projects include the provision of a water supply to the Ekwulobia Flyover Bridge Fountain and the ornamental garden for Double NC Construction & Logistics Ltd; the installation of a 3-way traffic light, including pedestrian lights, at the Ifite-Amenyi intersection within the Awka metropolis to S.N.U. Ventures, and the supply and installation of two 10 kVA inverters with 15 kW lithium batteries at the Anambra State Civil Service Commission Building in Awka to Kennolly Enterprises.

Others include the supply and installation of transformer substations at Nnewi and Umueze-Anam communities for Aries and Gold Ventures Limited, and Aljovic Construction Limited; and the landscaping of the car park for the Trauma Centre at Chukwuemeka Odumegwu Ojukwu University Teaching Hospital (COOUTH), Amaku, Awka, for Triseconds Resources Limited.

Continue Reading

General

Dangote Refinery Commences Free Delivery of PMS January 2026

Published

on

dangote pms delivery

By Modupe Gbadeyanka

The free delivery of premium motor spirit (PMS), otherwise known as petrol, across the country by the Dangote Petroleum Refinery will finally begin in January 2026. This was earlier scheduled for August 2025

This move, according to the Independent Petroleum Marketers Association of Nigeria (IPMAN), will bring down the price of the product in Nigeria.

The group has, therefore, urged all its members nationwide to patronise the Lagos-based private oil facility because it offers the best affordable price for all marketers.

Dangote Refinery has agreed to directly supply PMS to registered members of IPMAN, according to a statement signed and issued by the organisation’s president, Mr Abubakar Maigandi Shettima.

At a press conference held in Abuja yesterday on recent happenings in the oil and gas sector, IPMAN also applauded the support of the Chairman of Dangote Petroleum Refinery, Mr Aliko Dangote towards the federal government, which it noted has become evident in the regular reduction of the petroleum pump price.

“The association has the highest percentage of the supply chain of the PMS downstream sector, controlling over 80 per cent of the petrol retail market. We therefore declare that there will be no gap or scarcity in PMS supply to Nigerians.

“We are also excited at the recent agreement by the Dangote Refinery to begin the supply of PMS products directly to registered IPMAN members, and its free delivery to our filling stations anywhere and everywhere in Nigeria which will commence in January 2026.

“This will again, certainly lead to further decrease in the pump price of the products at our filing stations.

“Therefore, I am calling on all IPMAN members nationwide to prioritise patronising the Dangote Refinery in their purchase of PMS products, as they already offer the best affordable prize for all marketers today,” the group stated.

“At IPMAN we have no doubt as to the viability of the oil and gas policies being initiated by the federal government, and we have ceaselessly called and sought for enhanced cooperation across all levels of governance in the oil and gas sector. Hence, our repeated persuasion to always partner the Dangote refinery, to ensure the steady availability of PMS products.

“The focus of the Dangote & IPMAN partnership, has always been geared towards making life better for Nigerians. And of course, this blooming partnership would never have been possible without the pragmatic leadership of President Bola Tinubu, and his sound judgment in readjusting the leadership of the NMDPRA and the NUPRC.

“Our position has always been to deepen domestic refining in order to eradicate imports of petroleum products. Continuous import is NOT an acceptable parallel business model, because issuing import licenses recklessly distorts market dynamics, drains foreign exchange, enthrones poverty, destroys jobs, and scares potential investors away,” Mr Shettima was quoted as saying in the statement.

Continue Reading

General

Swedfund Puts Down $20m for Green Business Growth in Africa

Published

on

Green Business Growth

By Aduragbemi Omiyale

About $20 million has been put down by Swedfund to support efforts that limit climate change in Africa and help communities adapt to its effects.

The funds would be deployed by the Helios Climate, Energy, Adaptation and Resilience (CLEAR) Fund to back African companies that reduce emissions, strengthen resilience and create green jobs.

Swedfund’s investment is expected to contribute to significant cuts in greenhouse gas emissions and to help businesses and small farmers adapt to a changing climate.

The investment strengthens Swedfund’s work to drive a sustainable and inclusive green transition in Africa.

Africa contributes less than 3 per cent of global carbon emissions but faces some of the most severe climate impacts. At the same time, the continent’s energy demand is expected to triple by 2050.

Swedfund’s investment in Helios CLEAR will help channel capital to businesses that drive low-carbon growth in areas such as renewable energy, sustainable transport, climate-smart farming, efficient use of resources and digital climate solutions.

“By investing in this sector, we can reduce emissions, build resilience and create green jobs, all vital for sustainable growth that benefits more people.

“Africa currently receives only a small share of global climate investment, yet the potential for climate-smart business is enormous.

“Through Helios CLEAR we help build the next generation of African climate-focused businesses,” the Investment Director for Energy and Climate at Swedfund, Ms Gunilla Nilsson, stated.

Helios CLEAR Fund is a Pan African growth equity fund managed by Helios Investment Partners, one of Africa’s leading private equity firms.

The fund targets investments that deliver measurable climate mitigation and adaptation outcomes. The fund is supported by multiple development finance institutions.

Continue Reading

Trending