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.
The House of Representatives has adopted a motion defining "cognate legislative experience" for principal officers, effectively ending the ambition of Ikenga Ugochinyere to become Minority Leader. The decision, following a motion by Mr. Babajimi Benson, stipulates that only members who have completed at least one full four-year term are eligible for principal officer appointments. This move came after the Minority Leader position became vacant due to Kingsley Chinda's defection and subsequent governorship candidacy. Ugochinyere, a first-term lawmaker, had garnered support from 61 lawmakers, though his candidacy faced controversy over alleged forged signatures and financial inducement. The House's resolution, which states that "there is no other definition to the term 'cognate legislative experience' other than as stated," aligns with the 10th Senate's recent definition. While some, like Solomon Bob, argued the motion was unnecessary and could limit the Speaker's authority, Speaker Tajudeen Abbas defended the House's decision to interpret its own rules. This development is expected to reshape the race for the Minority Leader position, focusing on ranking opposition lawmakers who meet the new eligibility criteria.
Adewole Adebayo, the presidential candidate of the Social Democratic Party, has dismissed proposals for a single six-year term for presidents and governors, labeling the debate as a distraction from Nigeria's more critical issues. Speaking on Arise News, Adebayo reacted to plans by Senate Leader Opeyemi Bamidele to sponsor a bill for a single six-year tenure. While proponents argue this would allow officials to focus on governance without re-election pressures, Adebayo emphasized that ensuring credible elections should be the country's main priority. He stated that the problem is not the length of the term but the lack of a functional system where voters genuinely decide the winner and where political parties engage with ideas. Adebayo stressed that electoral reforms, aimed at eliminating rigged elections and empowering voters, should take precedence over constitutional debates on tenure length. He believes the current four-year term is sufficient if elections are conducted freely and fairly. Adebayo also addressed reports of multiple presidential candidates within the SDP, urging the Independent National Electoral Commission to follow legal procedures to resolve such matters. He advocated for issue-based politics, encouraging parties to compete on policies and ideas rather than personal attacks, and highlighted the importance of strengthening democratic institutions and restoring confidence in the electoral process.
Pastor W.F. Kumuyi, the General Superintendent of the Deeper Christian Life Ministry, has addressed recent speculations regarding the succession of the church's leadership. During a church service, Kumuyi clarified that he will not transfer the leadership of the ministry to any of his biological children. He emphasized that the Deeper Christian Life Ministry belongs to Jesus Christ, not to him, and therefore, its leadership should be determined by divine direction rather than familial succession. Kumuyi dismissed the idea that the church is a personal enterprise to be passed down to family members, stating that "nobody has right to hand it over to his son." He also referenced biblical figures such as Peter, Paul, and John, noting that none of them handed over the church to their children.