Former lawmaker, Senator Daniel Bwala, says Nigerians need to adjust to the current economic realities in the country.

He stated this on Wednesday while fielding questions on Channels Television programme.

Bwala disagreed with the claim that President Bola Tinubu’s administration is insensitive to the plight of Nigerians.

According to him, Nigerians will not be in hardship situation forever, adding that they will need to adjust.

He said: “It depends on who is assessing, what is the motive behind the assessment. Just like we would have water in the bottle, someone says it is half full another says it half empty. But what we should be generally looking at are the numbers. Also looking at the context and perspective from which we look at things.

“Nobody, I think, is in doubt about the fact that when the President took that hard decision, which is a necessary decision, it is not a convenient decision, that there must be a temporary hardship; there must be a period like period of childbirth; there must be a period of inconveniences; there must be a period of personal sacrifices. When you are confronted with a period like that, what is required of you is adjustment, because they say trouble doesn’t always last. You will not be in that situation forever. But you will need to adjust. This is the basis of life.”

“I don’t think the President is denying the fact that this is a period in the lives of Nigerian people where things are hard. He has said it over and over again.”

CREDIT: DAILY POST

The Central Bank of Nigeria has released a list containing 44 licensed deposit money banks in the country. This disclosure was made through a list published on the CBN’s official website on Tuesday.

As of April 26, 2024, seven banks, namely Zenith Bank, Access Bank, First Bank, First City Monument Bank, United Bank of Africa, Fidelity, and Guaranty Trust Bank, hold Commercial Banking licenses with international authorization.

Additionally, fifteen banks possess commercial banking licenses with National Authorization, while four banks have commercial banking licenses with regional authorization. Furthermore, there are four non-interest banks with national authorization.

The CBN also revealed that the country has six merchant banks operating with national authorization. Moreover, the number of financial holding companies has increased to seven.

In addition to these, there is a representative office of a Mauritius commercial bank in the country.

This list follows the CBN’s decision to raise the minimum capital requirement for all banks in Nigeria, aimed at bolstering the resilience of the country’s financial sector.

Senator Peter Onyekachi Nwebonyi, Deputy Chief Whip of the 10th Nigerian Senate and representative of Ebonyi North Senatorial District, has voiced his support for the proposed implementation of State Police. Nwebonyi, also a member of the Senate Constitution Review Committee, shared his views during an interview with AIT’s program “Inside Parliament” shortly after the plenary session on Tuesday, May 7, 2024, held at the National Assembly Complex in Abuja.

The seasoned lawmaker and senior lawyer emphasized the necessity of establishing state police forces to address the pervasive security challenges across the nation, which have overwhelmed the federal police.

In addition to endorsing the proposed State Police, Senator Nwebonyi reiterated his opposition to the anticipated increase in electricity tariffs. He maintained that considering the current dire economic situation faced by Nigerians, any discussion of tariff hikes reflects a lack of sensitivity.

As the Nigerian representative at the ECOWAS parliament, Senator Nwebonyi urged Nigerians to maintain confidence in the administration of President Bola Tinubu, asserting that the bold economic policies implemented by the administration will soon yield positive results for all citizens.

Furthermore, Senator Nwebonyi expressed optimism about the ongoing constitutional amendment, affirming that it will address governance loopholes. He highlighted the significance of the amendment, particularly in light of the fact that the current constitution was crafted during military rule.

Regarding the 2024 budget, Senator Nwebonyi assured Nigerians that its abundant provisions will soon translate into tangible benefits for the populace. He affirmed that the forthcoming benefits align with the overarching goals of President Tinubu’s Renewed Hope agenda.