Economy

Gov. Adeleke Calls for Sanctions Against Banks Hoarding New Naira Notes

By Web News 564

By Funmi Adekoya

The Osun State, Senator Ademola Adeleke urges the Central Bank of Nigeria, CBN, to sanction financial institutions involved in the hoarding of new naira notes.

Addressing CBN officials in his office, Governor Adeleke decried the increasing shortage of the new notes, explaining that, he has been deploying state networks to douse tension and ensure the safety of banks and the CBN state office.

The Governor said his intervention in the last few weeks had ensured that Osun state is saved from increasing conflict across some South Western states.

He however expressed displeasure over the current hardship citizens are facing, adding that, his government was ready to partner with the CBN for the currency swap.

Governor Adeleke advised CBN to act fast as the situation is getting out of hand, informing the team that, the state is sacrificing a lot to maintain peace.

Responding, the CBN state Director, Mrs Oluyemi Adeyemi commended the Governor for his proactive steps that have saved the state from naira-related riots.

Mrs Adeyemi said the apex bank is working effortlessly, to make the new notes available and has issued queries to some commercial banks who hoarded the new naira notes.

The meeting set up a monitoring mechanism between the state government and the CBN to ensure allocated new notes get to the populace.

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Foreign

EU Sanctions Russia over Difficult Oil Matters

By Web News 1077

The EU is expected to outline fresh sanctions against Russia later today, including a plan for potentially phasing out Russian oil.

This is a big move given how many member states are reliant on this source. Overall, the bloc relies on Russia for 26% of its oil imports.

They’ve already paid more than £47 billion euros ($47.43bn) to Russia for the country’s gas and oil since the war began.

Germany has indicated that it would be able to manage without Russian oil by the end of 2022. EU nations have been tussling this week on how to wind down their dependence on Russia.

But some nations – like Hungary and Slovakia – are much more heavily exposed to Russian oil and gas. Hungary, especially, has opposed stronger energy sanctions against Russia.

BBC/Taiwo Akinola

News

Sanction Erring  Filling Stations – Ekiti Residents Tell Government

By Web News 530

Long queues are gradually reducing from filling stations within Ado Ekiti metropolis.

Radio Nigeria reporter gathered that users of the product are now patronizing Petrol stations where fuel is being dispensed at the rate of 162 naira to 165 naira per litre.

It was also gathered that, some filling stations still selling the product above 200 naira per litre but consumers failed to patronize them.

Meanwhile, a cross section of residents of Ado Ekiti has appealed to the Task Force on petroleum products to move round the state capital and shut any filling station caught selling above the approved pump price of 162 naira per litre.

Speaking with Radio Nigeria, Mr Ade Olaiya and Mrs Bose Ajayi wondered why Task Force refused to close any filling station contravening Government directives on pump price, alleging that they may have been bribed to kick against the right thing.

Amos Ogunrinde

News

Oyo NSCDC Warns Filling Stations Against Selling Beyond Normal Pump Price

By Web News 502

Nigeria Security and Civil Defence Corps, NSCDC Oyo State Command, Mr Michael Adaralewa has reiterated the Corps readiness to apprehend filling station owners who sells beyond normal pump price.
Mr Adaralewa stated this while addressing the anti vandalism officers deployed to monitor some filling stations who were  dispensing a litre of Premium Motor Spirit, PMS, above the recommended pump price. 
He said filling stations owner who are taking undue advantage of the artificial scarcity of fuel to hike the price of the product thereby worsening the current situation in the state would be dealt with. 

The State  Commandant said this was in  line with the directive of Commandant Generals Dr Abubakar Audi  to all  State Commandants to deploy  personnel mostly Anti-Vandalism Squad to filling stations to maintain orderliness.
Also, he urged them to monitor compliance with government approved rates as well as to stop visible and perceived sharp practices observed during supervision and monitoring of  filling Stations . 
Mr Adaralewa noted that The Anti Vandalism Squad would  visit  filling  stations in Oyo state, to monitor the compliance of sale of the commodity at the approved price, and cautioned them against hiking the price and  ensured that the product is sold to motorists instead of hoarding it. 

He warned erring filing stations who are still selling above the recommended pump price or hoarding the products thereby causing artificial scarcity to revert  or risk being arrested and dealt with according to the law.
The NSCDC boss in Oyo state therefore charged members of the public to furnish the command with credible information on the activities of errant marketers and other crime and criminalities in Oyo state.

Rasheedah Makinde /PR

News

50 Corps Members Sanctioned In Ekiti

By Web News 868

Governor Fayemi advocates support for NYSC Bill, as scheme sanctions 50 corps members in Ekiti

Governor Kayode Fayemi of Ekiti State wants governors across the federation to support the National Youth Service Corps, NYSC Trust Fund Bill currently at the National Assembly for quick passage.

Governor Fayemi made the call in Ado Ekiti while speaking at the Passing Out Parade for about two thousand 2021 Batch A Stream One Corps Members serving in Ekiti State in the last one year.

Addressing the gathering, Governor Fayemi who was represented by the Commissioner for Youths and Sports, Mr Michael Awopetu, explained that the passage of the bill would enable the scheme to deliver more on its mandates.

He charged the Corps members to maximize the values added to them during the one year service and be an agent of positive change to foster national development.

Earlier, the Coordinator of NYSC in Ekiti State, Mrs Nnena Chikieze applauded the Corps members for their cooperation in the last one year, urging them to be good ambassadors of the scheme.

Mrs Chikieze hinted that fifty Corps members were found guilty of various offences while 44 others would have their service year extended by weeks and six of them would be remobilized.

Highlights of the ceremony were presentation of state award to the best Corp members, parades and cultural display.

Oluwaseyi Akanbi