CBN Deputy Governor highlights policies that saved Nigeria from economic disaster
via Punch Nigeria3 min read
Emem Usoro, Deputy Governor, Corporate Services, Central Bank of Nigeria, stated that the bank's ongoing reforms and implemented policies have prevented Nigeria from economic disaster. Speaking at Akwa Ibom State University's convocation where she received an honorary doctorate, Usoro noted that aligning monetary policies with fiscal reforms has led to exchange rate and macroeconomic stability, boosted economic growth, and fostered an inclusive economy. She emphasized the importance of brilliant young minds for Nigeria's economic growth, citing countries like Singapore, Japan, and South Korea as examples of nations that achieved prosperity by leveraging their youth's innovation. Usoro also announced financial support from the CBN for the university's academic and research work and encouraged graduates to remain curious and embrace new ideas. She charged female graduands to overcome societal constraints in pursuing their aspirations. The university graduated 6,779 first-degree and 746 postgraduate students.
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This summary was AI-generated from a story originally published by Punch Nigeria.
Former Vice President Atiku Abubakar has criticized the Presidency for using China's legal system to defend President Bola Tinubu, arguing that this comparison has drawn more attention to past allegations against the President. Atiku, the presidential candidate of the African Democratic Congress for the 2027 election, stated that the Presidency's reference to China, known for its severe penalties for drug trafficking, was a "monumental own goal." His Senior Special Assistant on Public Communication, Phrank Shaibu, issued a statement on Saturday, asserting that the Presidency's attempt to score political points had instead subjected Tinubu to greater public scrutiny. Atiku maintained that he has never been indicted or convicted of corruption, drug-related offenses, or any criminal offense in Nigeria or abroad. He argued that if the Tinubu administration intends to use China as a benchmark for accountability, Nigerians are entitled to question how Chinese authorities would handle a case involving $460,000 forfeited to the United States Government in a civil forfeiture proceeding related to alleged narcotics trafficking and money laundering. Atiku also extended the comparison to corruption, claiming that under China's system, allegations of budget padding, abuse of office, and the creation of a fake government agency would have prompted swift official action. He further criticized the Presidency for presenting a recent response from the United States Government to Nigeria's dipl
Must ReadNura Abdullahi, the chairman of Bungudu Local Government Area in Zamfara State, was abducted from his residence early Saturday morning. The attackers killed four members of his security detail, comprising two policemen and two local vigilantes, during a gun battle. An indigene reported that the bandits, in large numbers, invaded the chairman's home, abducting him, his wife, and children. Troops of Operation FANSAN YAMMA intensified efforts to rescue the chairman. The Media Information Officer of the Joint Task Force North West, Lt. Col. Aliyu Danja, stated that troops responded to gunshots, engaging the attackers and forcing them to abandon five family members, including two children, the chairman's mother, wife, and a relative, who were subsequently rescued. However, the chairman was taken into the bushes. The attack also resulted in the death of two policemen, one local vigilante, and a civilian, with the chairman's elder brother, Alhaji Bello Umar, sustaining injuries. A coordinated search-and-rescue operation involving Operation FANSAN YAMMA, the Nigeria Police Force, the Department of State Services, and local vigilantes is underway in suspected locations to secure the chairman's rescue. The command assured the public that all measures are being taken and requested credible information to assist the operation.
Controversial Islamic cleric Ahmad Gumi has questioned why government officials have not engaged with Boko Haram and bandits in the same way past leaders negotiated with Niger Delta militants. Gumi recalled that former President Goodluck Jonathan and former Vice President Yemi Osinbajo both visited militants in the creeks to broker peace, leading to programs designed to end militancy in the region. He asked who would extend similar engagement to Boko Haram and bandits in northern Nigeria without facing public criticism. Gumi has advocated for dialogue with armed groups in the North-West and North-East, arguing that negotiation, rather than military force, was effective in the Niger Delta and should be replicated. His interventions have drawn both support and criticism, with some accusing him of legitimizing armed groups, while others credit his efforts with securing the release of kidnap victims. Gumi, a retired soldier, denies backing terrorism, stating his advocacy aims to end bloodshed through dialogue and rehabilitation. The Niger Delta amnesty program, launched in 2009, disarmed thousands of militants in exchange for training, stipends, and reintegration support, significantly reducing attacks on oil infrastructure. Jonathan's 2007 meeting with ex-militant leader Government Ekpemupolo, known as Tompolo, laid the groundwork for this program. Osinbajo also toured Niger Delta communities in 2017, engaging militants and traditional leaders, arguing that those in the creeks w