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FG To Dissolve Boards Of Federal Agencies, Parastatals

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Bola Tinubu

Acting under pressure from supporters pushing for political relevance, the federal government may have decided to dissolve the boards of federal agencies and parastatals, THISDAY has learnt.

However, because some of the positions are tenured, it is not certain how far it would be implemented, but there are strong indications that the Presidency may have given the Office of the Secretary to the Government of the Federation (SGF), the go-ahead to dissolve and reconstitute the managements and boards of the agencies and parastatals.

The green light to dissolve to board of parastatals has already alerted political lobbyists who are gearing up to be appointed in the event of the dissolution of the boards of the federal parastatals.

However, when contacted yesterday on the issue, the Director Information OSGF, Willie Bassey, said he was unaware of such presidential approval. There are about 42 agencies and parastatals directly under the supervision of the OSGF, that directly help the government in the daily running of varying and specific, oversight and administrative functions.

The dissolution of the boards is expected to help President Bola Tinubu to shape the agenda of his own administration. Some senior civil servants who spoke to THISDAY last night, said that it would not be out of place for Tinubu to dissolve the boards of federal parastatals inherited from former President Muhammadu Buhari.

They noted that his predecessor also carried out a similar cleansing exercise in 2015 when he aproved the dissolution of the governing boards of federal parastatals, agencies and institutions.

Under Buhari’s instruction, the chief executive officers of the affected parastatals, agencies and institutions were directed to refer all matters requiring the attention of their boards to the president, through the Permanent Secretaries of their supervising ministries.

Similarly, Buhari had also constituted the boards of the six aviation agencies less than 24 hours to the end of his administration after the agencies operated without boards for close to a decade, despite that their Acts make the constitution of boards mandatory.

The agencies were the Nigeria Civil Aviation Authority (NCAA), the Federal Airports Authority of Nigeria (FAAN), the Nigerian Airspace Management Agency (NAMA), the Nigerian College of Aviation Technology (NCAT), the Nigerian Meteorological Agency (NiMet) and the recently created Nigerian Safety Investigation Bureau (NSIB).However, the appointments were not confirmed as the ninth Senate could not ratify them before its dissolution and the subsequent inauguration of a new government on May 29.

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I Still Get Attacked By People – Yakubu Aiyegbeni Reveals

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In a recent interview, former Nigerian football star Yakubu Aiyegbeni has revealed that he continues to receive messages and criticisms from fans, years after his infamous miss during the 2010 FIFA World Cup match against South Korea.

The moment, etched into football history, occurred during Nigeria’s crucial group stage game against South Korea. With the score tied at 2-2 and a spot in the knockout stages on the line, Aiyegbeni found himself with what seemed like an open goal opportunity. However, to the shock of fans worldwide, he missed the chance, leaving Nigeria unable to secure the much-needed victory.

Despite this moment happening over a decade ago, Aiyegbeni expressed his surprise at the ongoing messages he receives about the miss. “I still get messages from people, different messages,” he stated in the interview. “It’s surprising how that moment still sticks with people, even after all these years.”

The striker, who had a successful career playing for clubs like Everton and Portsmouth in the English Premier League, admitted that the miss was a tough moment in his career. “Of course, it was a big moment, and I wish it had gone differently. But in football, you have highs and lows,” he remarked.

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Job Losses, Factory Closures Loom As Unsold Goods Pile Up — MAN

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AGAINST the backdrop of sustained pressure in the foreign exchange market and high cost of production, the Manufacturers Association of Nigeria, MAN has indicated that inventory of unsold goods is escalating to levels now threatening the existence of companies operating in the production sector of the economy with attendant job losses.

Findings show that as of the weekend the foreign exchange market had recorded over 254 per cent plunge in the value of the naira since flotation of the currency by the Central Bank of Nigeria (CBN) in June 2023.

Recall that the naira traded for N471 per dollar in the official I&E market on June 13, 2023 before the floatation of the currency, but exchanged for N1,665.50 to a dollar as at February 23, 2024 on the Nigerian Foreign Exchange Market (NAFEM), indicating a depreciation of more than 253.6 per cent over the eight-month period. The forex crisis is also stoking inflation, and coupled with high energy costs, purchasing power has continued plummet, stifling demand for goods.

Speaking on the impact of this development on the manufacturing sector, Director General, MAN, Segun Ajayi-Kadir, said: “There are reports that across the board, many warehouses and plants of many manufacturing firms are stockpiled with unsold goods manufactured last year. “The development is as a result of the devastating effects of the exchange rate crisis, inflation, fake and sub-standard goods, smuggling and other macro-economics challenges.”

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