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Why Tinubu appointed new management team for CBN – Aide

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Sen. Abdullahi Gumel, the Senior Special Assistant to the President on National Assembly Matters (Senate) says the appointment of the new management team for the Central Bank of Nigeria (CBN) is to rejig the bank and make it alive to its responsibilities.

Gumel said this in a statement on Wednesday in Abuja.

According to him, the appointment of the team by President Bola Tinubu was part of efforts to rescue the country’s economy from its challenges.

“The CBN’s image was badly battered so, this team that has come on board is a rescue team,” Gumel said.

“They have come to rescue the image of the CBN.

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“In fact, it is not only Nigerians that are waiting for the CBN’s new management to be up and running but the ECOWAS sub-region and the African Union (AU).

“They are waiting for Nigeria to get back the economy so that everybody will feel secure and happy.”

Gumel also lauded the Senate for confirming the appointment of Mr Olayemi Cardoso as the CBN Governor and his team on the first day of its plenary after recess.

“The screening was successful as robust questions bothering on the economy were asked.

“The lawmakers told the CBN governor and the deputy governors the feelings of Nigerians and what they talked to the team about is reflective of what Nigerians feel about the CBN,” he said.

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Gumel expressed optimism that other appointees of the President would be screened and confirmed soon by the Senate.

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Refineries Are Not Created To Reduce Fuel Price– Kyari

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Forty eight hours after being summoned by the Senate, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, has now appeared before the joint committee on appropriations.

The Senate had issued a 24-hour ultimatum on Wednesday to the NNPCL boss after an observations that he had in previous occasions, shunned summons by the Senate to appear before its ad-committee probing over 11 trillion naira expenditure on turn around maintenance of refineries in the country between 2010 and 2023.

Responding to questions by the senate committee on appropriations on the potential drop in pump price of petroleum owing to the expected functionality of refineries, Kyari clarified his comment after he was interrogated again. He explained that it might be possible to have a reduction, but it is not the main objective of the refineries.

He buttressed that maintaining the energy security target has fostered the confidence that in 2024, Nigeria will become a net exporter of petroleum products.

The NNPCL boss affirmed that no subsidy is charged to the federation, adding that the NNPC has contributed 4.45 trillion naira as direct revenue into the federation in a combination of taxes, royalties and dividends and paid 406 billion naira as dividend to Federal Government’s account from July 2023.

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According to him, Nigeria does not have credible data for PMS consumption in the country because of the absence of the instrument to measure.

The Chairman of the Senate Appropriation Committee, Senator Adeola Olamilekan, had on Wednesday, directed Kyari to appear before the committee in 24 hours.

Olamilekan, who asked Kyari to appear in company of the Executive Secretary of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), warned that failure to appear undermines the legislature and sabotages the process.

They are required to present the list of all individual companies operating with OML licenses in Nigeria as well as total production output approved on a daily basis.

The lawmaker expressed concerns that some of the revenues required to drive the 2024 budget was attributed to the NNPCL, which according to him, was owned by the Federal Government and responsible to it, and by extension the three arms of government.

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DSS To Start Using Weapons Produced By Personnel – Bichi

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The Department of State Services (DSS) said on Saturday it will soon unveil weapons produced by its personnel.

This was disclosed by the DSS Director General, Yusuf Bichi, at the graduation ceremony of the Executive Intelligence Management Course (EIMC) 16 participants in Abuja, the nation’s capital.

According to him, the DSS will soon begin to “produce what it eats and eat what it produces.”

Among the weapons the Secret Service will soon unveil are Unmanned Aeriel Vehicles (UAVs), he stated.

Bichi also assured that the agency will continue to support the National Institute for Security Studies to succeed in its quest to impart knowledge that will enhance security in the country.

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He charged the participants to utilise the skills they have acquired to develop the country, urging Nigerians to remain patriotic and shun those whom he described as warmongers who want to set the country on fire.

Also at the event is the Vice President, Senator Kashim Shettima.

The Executive Intelligence Management Course (EIMC) 16 commenced in February 2023 with 89 participants drawn from 35 agencies across Nigeria and four other African countries, namely, Niger, The Gambia, Rwanda and Chad.

Three participants lost their lives during the period, leaving 86 participants who graduated on Saturday.

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