Naira Depreciation; New Capital Base Not Enough – Soludo
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Former governor of the Central Bank of Nigeria and governor of Anambra State Professor Chukwuma Soludo has commended the recapitalization move of the banking industry even as he said with the depreciation of the naira, the new capital base which takes effect in 2026 is not enough.
This is as he, alongside the governors of Lagos, Ogun and Kwara states as well as former President of Nigeria, Olusegun Obasanjo bemoaned the high interest rate which according to them stifles the much needed economic growth of the country as the launch of “The Power of One Man” a book on the 2004 banking sector consolidation written by Dr Ray Echebiri in Lagos.
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Outrage as police kill betting agent in Ogun
Photo Credit: Punch Newspapers
A trigger-happy police officer has reportedly shot dead a betting agent identified as Anuoluwapo Abiodun in the Imala/Elega area of Abeokuta, the Ogun State capital.
Abiodun, a graduate of Moshood Abiola Polytechnic, reportedly operated a betting shop in front of a popular hotel in the area and was closing his shop for the day when he was gunned down on Friday night.
An eyewitness who spoke to our correspondent under the condition of anonymity alleged that the officers were drunk and coming out of the hotel when one of them shot the deceased.
Four arrested in Kaduna for vandalising TCN’s towers
Photo Credit: Punch Newspapers
The Transmission Company of Nigeria said the Police Command in Kaduna state has arrested four suspected vandals who were caught destroying transmission towers installed in some parts of the state.
TCN’s General Manager, Public Affairs, Mrs Ndidi Mbah, disclosed in a statement issued in Abuja on Friday.
The general manager said that among the instruments recovered from them were shovels and diggers.
Mbah said that TCN appreciated the efforts of the police and assured its continued collaboration with security operatives in safeguarding transmission infrastructure nationwide.
ECOWAS heads meet as Tinubu’s leadership tenure ends Tuesday
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As President Bola Tinubu’s tenure as the Chairman of the Authority of Heads of State and Government of the ECOWAS elapses on July 9, 2024, presidents and representatives of 12 member states will converge on the State House Conference Centre, Abuja, for an Extraordinary Summit on Sunday, July 8.
The meeting, which is scheduled to begin at 11:00 am, would likely see the West African leaders pick a new chair to steer the affairs of the bloc for the next year.
However, there are indications that leaders may extend Tinubu’s tenure to give him time to possibly win back Niger, Mali and Burkina Faso into the bloc.