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Women play critical roles in national development – First Lady



Oluremi Tinubu

The First Lady, Sen. Oluremi Tinubu, on Friday in Abuja said women had enormous roles to play in driving the nation’s development and transformation efforts.

The first lady, after a meeting with the wives of former governors in her office, posited that women must be involved in critical stakeholder activities like assisting the government in promoting the welfare of Nigerians.

She said the wives of former governors, with a sphere of influence within and outside their states, played the roles that could not be looked down upon in nation’s development.

She acknowledged that the former governor’s wives played pivotal roles during the campaign of the election that brought her husband President Bola Tinubu to power, therefore, she could not push them aside.

She described the wives of former governors as mothers of nation in their various terrains that she required to work with her and the government in pushing the nation forward.

“We need them. They were all there during the campaign, we have to make sure they come in to talk about ways forward about the various programmes we have on the table.

“I need them to represent the government and to help me with the job, in spite that the current wives of governors are there, nobody is encroaching on anybody.

“I’m thinking of inviting wives of royal fathers and that of religious leaders too, to work with me in the Renewed Hope Initiative because I believe mothers have big roles to play.

“If we have to heal this country, women have to nurse this country back to life; there are many things going on in the society.

She said the walfare of people was significant to her, adding that she needed other women to support her in reaching out to the local communities via her national project.

“This is the first time we would have a state of emergency placed on food security and fuel subsidy is also there, I wish we can try to ameliorate the inconvenience all these new reforms are having on people.

“This is why I need the mothers, they are women of substance, and we need them to continue with what they have been doing, even if it is to reach out to the next neighbour, because I can’t get to all households.

“If we cushion whatever inconvenience we are facing now, it will go a long way. This is me going into familiar territories; however, all hands have to be on deck for this country to move forward; that is why I am asking the women for support.

The wife of the former governor of Ekiti State, Erelu Bisi Fayemi on behalf of the others, appreciated the first lady for stretching her hands of fellowship at them.

“We are here to spend time with our mother, we work together to ensure that our party APC won the election recently, it is important for us to continue to engage women in whatever we do.

“What have been the practice in the past is that when you go through an electoral act, the women do all the hard works and they make sure that the votes count, but after that is done, women are pushed to the margins.

“The first lady has acknowledged that mothers matter, therefore it’s not just about bringing the former wives of governors together, it’s about recognising the power that women have wherever they are in their local communities.

“We cannot achieve our development goal as a nation if we do not invest in the empowerment of women; therefore, we pledge to support our mother the first lady in all her works and that of our other sisters in the states.


Hardship: Protesters Defy Police Warning, Hit Lagos Streets



Residents have hit the streets of Lagos State to protest against the increasing spike in the price of food and the high cost of living in the country.

The protest was facilitated by a human rights group identified as the “Take It Back Movement.”

This comes against the warning issued by the Lagos State Commissioner of Police, Adegoke Fayoade, on Sunday.

The protesters were seen carrying placards of various inscriptions at Ojuelegba Under Bridge area of the state to express their grievances.

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CBN Lifts Ban On BDCs, Introduces New Operational Mechanism



In a major development aimed at financial stability and strengthening the naira, the Central Bank of Nigeria (CBN) plans to resume its weekly intervention in the country’s foreign exchange (FX) market through the Bureau de Change (BDC) operators.

In 2021, the central bank, in a bid to achieve its mandate of safeguarding the value of the local currency, ensuring financial system stability, and shoring up external reserves, announced the immediate discontinuance of foreign currency sales to Bureau de Change (BDC) operators in the country.

However, the resumed intervention, which would reportedly commence today for funding as well as Tuesday for collection, will see the apex bank inject FX into the subsector in a bid to rescue the naira from further depreciation against major currencies, particularly the US Dollar. The collection will be at designated CBN branches in Lagos, Abuja, Kano, and Awka, while details of the naira accounts to be credited for funding bidding will also be made available today.

CBN is also expected to publish the list of eligible BDCs to benefit from its funding using certain compliance criteria.National Executive Council of Association of Bureau De Change Operators of Nigeria (ABCON) hinted on the latest developments through a memo to its members over the weekend.

The association also warned members that it will no longer be business as usual under the new supervisory regime of the central bank, as any infringement or infraction would result in outright revocation of license and prosecution.

ABCON said through the association’s various engagements with the central bank, in conjunction with ABCON’s strategic partners, CBN had agreed to its request, under the bank’s supervision, to inject liquidity into the market through a weekly intervention beginning today.

CBN assured ABCON that the new circular on the Revised Regulatory and Supervisory Guidelines to BDCs, which was introduced over the weekend, was only a draft exposure that required the association’s inputs before the release of the final guidelines by the apex bank.

To that effect, the letters of the guidelines were not cast in stone, the association’s leadership told its members, who had been worried over the sweeping reforms in the document, which, among other things, prescribed N2 billion and N500 million minimum capital for national and state BDCs, respectively.

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