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BREAKING: No plans to redenominate Naira – CBN clarifies

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The Central Bank of Nigeria has rejected claims that it intends to redenominate the country’s currency, the Naira, starting from January 2023. Isa AbdulMumin, the CBN’s Director of Corporate Communications, conveyed this in a statement on Tuesday.

The central bank’s response comes in response to an assertion suggesting that it is considering redenominating the nation’s official currency. The bank firmly denied this claim, emphasizing that it has no intentions to restructure and redenominate the Naira.

The statement from the Central Bank of Nigeria stated, “The Central Bank of Nigeria (CBN) has noticed the wide dissemination of a text message implying that the Bank is planning to redenominate the country’s legal tender, the Naira, effective from January 2024.

“We are concerned that this narrative, which we have previously refuted, is gaining traction with numerous discussions about the potential consequences of such a policy on the Nigerian economy.

“We want to reiterate that the information contained in the message is misleading. The authors of the message, in their mischievous intent, altered text from a past policy move by a former CBN Governor in 2007 to make it appear recent.

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“To eliminate any doubts, there is currently no plan by the Bank to restructure and redenominate the Naira. While the Bank may be contemplating reforms, such actions are subject to established procedures in accordance with the provisions of the CBN Act, 2007.

“The public is advised to disregard the news report as it is speculative and intended to create unrest in the country.”

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Maiduguri flood: Ogun Govt donates N200m to Borno State

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The Ogun State Government has donated N200 million to the Borno State Government in response to the severe flooding that recently devastated the area, causing significant property damage and displacing thousands of residents.

The flooding was triggered by the collapse of the Alau Dam in Maiduguri on September 10.

Reports indicate that at least 414,000 people have been displaced, with 30 lives lost due to the disaster.

Ogun State Governor Dapo Abiodun had previously sent condolences to the people and government of Borno, praising the state government’s swift actions and the support from the Federal Government.

Kayode Akinmade, the Governor’s Special Adviser on Media and Strategy, stated on Saturday that the donation aims to aid flood victims and provide immediate relief. He noted the unprecedented humanitarian crisis in Borno State caused by the flooding and called on all Nigerians to help those in need.

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Ekiti: Gov Oyebanji appoints over 300 board chairmen, members

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Ekiti State Governor Biodun Oyebanji has approved the appointment of chairpersons and members for various government agency boards and parastatals.

This initiative aims to facilitate the efficient operation of government activities and improve service delivery.

The announcement was made in a statement on Friday by the Governor’s Special Adviser on Media, Yinka Oyebode.

The appointments, which include both full-time and part-time roles, will take effect on Monday, October 7, 2024.

Governor Oyebanji congratulated the new appointees, highlighting that their roles present valuable opportunities for public service. He encouraged them to maintain the highest standards of professionalism and ethical behavior in their duties.

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Nigerian govt mobilises contractor to F107 Road, collapsing bridge in Abia

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Users of the Umuahia-Bende-Arochukwu-Ohafia road will soon heave a sigh of relief as the Federal Government has mobilized a new contractor, China Civil Engineering Construction Corporation (CCECC), to begin work on the collapsed sections of the road.

The mobilization of the new contractor followed a viral video by ABN TV titled “How Your Area,” which highlighted that the Onu Uduma Bridge, commonly known as Nmuri Bridge on the federal road, was on the verge of collapse.

The critical bridge, previously rehabilitated by the Federal Road Maintenance Agency (FERMA), has come under severe pressure due to repeated downpours and the movement of heavy-duty vehicles, which exposed it to structural threats.

The Federal Executive Council approved additional funds for the project, supplementing the money initially approved in 2018.

The arrival of CCECC equipment at the affected site on Wednesday has brought hope to the people of Ohafia and all users of the road. This follows the termination of the previous contractor, Heartland, whose contract was revoked due to issues concerning the quality of work.

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Speaking on the arrival of the new contractor, the member representing Arochukwu/Ohafia Federal Constituency, Ibe Okwara Osonwa, stated that the progress was a result of his engagement with the Minister of Works, David Umahi, through the Abia State Government, to ensure repairs on the road and the Nmuri Bridge to prevent total collapse.

He expressed gratitude to Governor Alex Otti, his deputy, and Senator Orji Uzor Kalu for their swift response to the road’s condition, but urged host communities to offer maximum cooperation to the contractor to ensure smooth and timely completion of the work.

CREDIT: DAILY POST

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