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Leave CBN Alone — Moghalu Warns Buhari

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Moghalu

Kingsley Moghalu

Kingsley Moghalu, a former presidential candidate has asked President Muhammadu Buhari to leave the central bank alone following his directive that the apex bank should stop providing foreign exchange for importation of food.

President Buhari said this on Tuesday in Daura, Katsina State, when he hosted the All Progressives Congress (APC) governors to Eid-el-Kabir lunch at his country home in Daura.

Buhari said that the foreign reserve will be conserved and utilized strictly for diversification of the economy, and not for encouraging more dependence on foreign food import bills.

“Don’t give a cent to anybody to import food into the country,’’ he said.

Read Also: Buhari Is A role Model For Declaring He Has Just 150 Cows — Accord Party Chieftain

In his reaction, Moghalu said the CBN is not a ministry to be directed by the president, adding that such impositions by political authority is the reason the country has remained poor.

In a statement on Tuesday, Moghalu wrote:

Is the central bank now a ministry to be “directed” by President Buhari ? Article 1(3) of the CBN Act 2007 states “In order to facilitate the achievement of its mandate under this Act…the Bank shall be an independent body in the discharge of its functions.”

The issue here isn’t whether or not CBN should allow access to forex for food imports. It is about whether such an economic policy of a central bank should be imposed by a political authority. A major reason for our poverty, instability and weak economy is weak institutions.

Our marketplace should be regulated and guided in a rational manner that creates a level playing field. Our economy will not be saved by Ad Hoc political decisions like this, handed down by the very institutions that should be shielded from the whim and caprice of politicians.

Nigeria’s entire economy appears to have been sub-contracted to our central bank, including industrial and trade policy. In the process the economy has fared poorly and the Bank has lost its independence. This is sad!

The President should leave central bank alone to discharge its mandate independently within the ambit of the CBN Act, and stop “directing” it. The central bank should on its part assertive its independence (assuming it actually believes it should be independent, but the Act says so, clearly!

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BREAKING: Senator Abbo Dumps PDP; Joins APC

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BREAKING: Senator Abbo Dumps PDP; Joins APC

Elisha Abbo

Senator Elisha Abbo has defected from the opposition Peoples Democratic Party (PDP) to the All Progressives Congress (APC), Nigeria’s ruling party.

Senator Abbo, who represents Adamawa North in the Nigerian Senate announced his defection from the PDP to the APC in a letter addressed to the Senate.

Senator Ahmad Lawan, the President of the Nigerian Senate, read the letter during Wednesday’s plenary session.

Also Read: 2023 Presidency: Bode George Cautions Buhari About Tinubu

In his letter, Senator Abbo explained that his decision to defect to the APC is because of the mismanagement of the PDP in Adamawa state by Governor Umaru Fintiri.

Senator Abbo who is a first-term lawmaker was elected in 2019 to the Senate on the platform of the Peoples Democratic Party (PDP).

Meanwhile, the name Senator Elisha Abbo became popular amongst Nigerians last year after he made headlines for slapping an attendant in a sex toy shop for ‘disrespecting’ him.

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2023 Presidency: Bode George Cautions Buhari About Tinubu

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2023 Presidency: Bode George Cautions Buhari About Tinubu

Bode George, Tinubu

Chief Bode George, a chieftain of the Peoples Democratic Party has warned President Muhammadu Buhari against supporting Bola Tinubu, National Leader of the All Progressives Congress for the 2023 Presidency.

Bode George made this remark in a statement titled, “The jamboree visit to the Villa: My Birthday Offering.”

The former National Port Authority boss warned Buhari against falling to the antics of those who would ignore the issues of Lagos State to engage in a needless scheming in partisan engagement.

Bode-George also condemned the recent visit of some APC chieftains, Chief Bisi Akande, Prince Tajudeen Olusi, Dr Yomi Finnih, and Chief Segun Osoba to the State House, Abuja.

Also Read: Fashola: If We Keep Our Promises, APC Will Retain Power In 2023

The PDP chieftain said: “The visit of Chief Bisi Akande, Prince Tajudeen Olusi, Dr Yomi Finnih, and Chief Segun Osoba to the seat of power in Abuja is needless, unnecessary, veiled in some poorly hidden agenda that is woven in apparently self-serving ulterior personalised desperation.

“It is easy to discern that the visit is stripped of any patriotic progression, lacking in balanced national leadership, voided of a spirit of sacrifice and developmental vision. The very absence of Bola Tinubu from the jamboree screams to high heavens that the meeting itself is a covert placatory softening of the ground for Tinubu himself. I am pretty certain that in his very absence, Tinubu occupies the centrality of the discussion.

“I will advise Baba Akande who governed Osun State with principled, incorruptible leadership to kindly help us drop off Bola Tinubu at Iragbiji as he makes his way back to Ila-Orangun, rather than engaging in fruitless pleading sessions for a man who is fixated on a warped pipe-dream about governing Nigeria. He should pay restitution for the egregious stripping of the Lagosian coffers.”

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Umahi Sacks Tertiary Institution’s Boards Headed By Ex-Minister, Ambassador

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Umahi Sacks Tertiary Institution’s Boards Headed By Ex-Minister, Ambassador

Dave Umahi

Governor of Ebonyi State, Dave Umahi who recently defected to the All Progressives Congress, on Tuesday sacked sixteen Technical Assistants.

The development was disclosed in a statement released by Umahi through the Secretary to the State Government, Dr. Kenneth Ugbala.

He also announced the dissolution of governing boards of the state’s two tertiary education institutions.

Also Read: Gov. Umahi Sacks Political Appointees From Ohaukwu LGA

The boards dissolved are the Ebonyi State University Governing Council and the Ebonyi State College of Education, Ikwo Governing Boards.

The two boards are headed by Ambassador Franklin Ogbuewu and a former Minister of State for Health, Fidelis Nwankwo.

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