Skip to main content

The relocation of FAAN, CBN offices to Lagos, To reduce expenses’ — FG

The minister of information and national orientation, Mohammed Idris said that the relocation of the Federal Airports Authority of Nigeria (FAAN) headquarters and certain departments of the Central Bank of Nigeria (CBN) to Lagos are not politically motivated. 

Mohammed Idris Malagi

The decision had drawn criticism and support, with Ali Ndume, chief whip of the senate, saying it would have political consequences, but Muhammadu Sanusi, former CBN governor, said it was a sensible move.

In a statement on Sunday, Idris said the allegations were “unfounded”, noting the relocation is a practical step to improve the operational competence and reduce the cost of operation.

He said the relocation was not to marginalise any section of the country.

"It is not true that the relocation to Lagos of the headquarters of the Federal Airports Authority of Nigeria (FAAN), and of certain departments of the Central Bank of Nigeria (CBN), are political moves aimed at marginalizing a section of the country,” Idris said.

“These allegations are unfounded. Instead, these are pragmatic administrative steps to improve operational efficiency and reduce operating costs.”

The minister underscored the federal government’s efforts to mitigate the impact of inflation on citizens through its initiatives like the students’ loan scheme, reduced cost of CNG mass transit buses, and various low-interest loan schemes for businesses.

"Regarding the economy, all relevant ministries and agencies of the federal government are working in coordinated fashion, to bring down inflation, stabilize foreign exchange rates, and create a truly enabling environment for business and investment. The Nigeria that President Tinubu seeks to build is one where no one is left behind,” he said.

"Impactful interventions are being rolled out, including a students’ loan scheme, a presidential initiative to deploy lower-cost CNG mass transit buses to provide alternatives to petrol and diesel, and various low-interest loan schemes for businesses.

“The CNG interventions will bring down the cost of transportation by more than 50 percent. We urge Nigerians to take advantage of these opportunities as they emerge, as they have been designed for the benefit of all.”


Comments

Popular posts from this blog

Jeff Bezos With GF Lauren Sanchez At The Miami Grand Prix

On Sunday, 06 May 2023, Jeff Bezos and his girlfriend of almost four years, Lauren Sánchez were at the F1 Miami Grand Prix. Jeff Bezos And Lauren Sanchez Top Left At The F1 Miami Grand Prix, Qualifying, Miami International Autodrome, Miami Gardens, Florida, USA – 06 May 2023 Lauren Sanchez, 53, a former Newscaster, was spotted in a crop top and jeans alongside her billionaire boyfriend Jeff Bezos, 59, in Miami, while attending the Miami Grand Prix. They held hands as they arrived at the Formula One Grand Prix event. Jeff Bezos with a net worth of US$125 billion as of April 2023, arrived in the team village at the Formula 1 Crypto.com Miami Grand Prix in Miami, Florida on May 6, 2023. Bezos is the third-wealthiest person in the world and was the wealthiest from 2017 to 2021, according to both the Bloomberg Billionaires Index and Forbes. Credit: Hollywood life.com, Wikipedia

The CBN Reverses Its Decision And Sets New Limit On New Naira Note Withdrawal

The Central Bank of Nigeria had initially stopped the withdrawal of the new Naira notes over the counter, directing commercial banks to instead dispense the cash through their Auto Teller Machines (ATM) to the public. Thursday, 2, February 2023, the apex bank has now backtracked on that decision, it is informing the commercial banks to resume over-the-counter withdrawal of the new N200, N500 and N1,000 notes. The Central Bank of Nigeria, has set a new directive of a maximum daily payout limit of N20,000, consisting of redesigned Naira notes, to each customer.  “In line with this resolve, the Governor, Mr Godwin Emefiele, has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000.  “We also admonish members of the public to embrace and adopt other payment channels for their transactions.  “The Naira is our legal tender and symbol of national pride. Therefore, let us resp...

GIST!

Music superstar, David Adedeji Adeleke with the stage name Davido, has paid the bride price of his fiancée Chioma Avril Rowland aka Chef. Davido and his family members, reiterated their intentions to marry Chioma by paying her bride price in full, in the presence of her entire family. Photos from Chioma's bride price payment have surfaced online. Chioma's dad can be seen in photos taking charge of things at the meeting. The yams, drinks, and other items were presented.