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Nigeria To Launch Its Own Digital Currency Soon- CBN

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As the Central Bank of Nigeria (CBN), continues to faces questions over its ban on cryptocurrency transactions in the country, Nigeria will soon create its digital currency, the CBN said on Tuesday, Newspremises can report.

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, said this while addressing journalists after a two-day meeting of the Monetary Policy Committee in Abuja.

According to him, the idea of a digital currency would soon become a reality in the country, and that the central bank has already set up its committee, which is working on the concept.

PREMIUM TIMES reported how the MPC on Tuesday retained the Monetary Policy Rate (MPR) at 11.5 per cent, voted to maintain the asymmetric corridor of +100/-700 basis points around the MPR, retained the Cash Reserve Ratio at 27.5 per cent, and left the Liquidity Ratio at 30 per cent.

Mr Emefiele appealed to bandits and others involved in criminal activities across Nigeria to drop their arms and embrace the apex bank’s Anchor Borrowers’ Programme (ABP). He said those involved in criminality can be more productive by embracing the apex bank’s scheme.

“If you want an economy to grow, the level of insecurity must be low because if there is a high level of insecurity like what we see today, the economy will suffer,” Mr Emefiele said, adding that there is a connection between security and economic growth.

“I, therefore, would like to appeal to our brothers, who decide that they want to live in bushes and forests, that they should please, begin to retreat, drop their arms and come and embrace the anchor borrowers’ programme,” he said.

“If they do so, it will help them; if they choose not to do so, they will be confronted by the security as this battle continues.

“I am optimistic before the end of the year that the security challenges confronting the country will substantially abate.”

READ ALSO:  CBN Is Maintaining Its Stand On Banning Cryptocurrency Says It Is Used For Financing Terrorism , Money Laundering - CBN Governor, Godwin Emefiele Tells Senate
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Ojogwu Godwin Chukwudi hailed from Delta State. A young talented personality, Alumnus of Delta State university,Abraka Studied Library and information science. He is an intellectual cyber communicator expert and a prolific blogger professional.

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Senator Mrs Uche Ekwunife Fulfils her promise of giving Business Grant to 1000 beneficiaries (See benefactors)

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EKWUNIFE FACILITATES BUSINESS GRANTS FOR 1000 BENEFICIARIES

Over 1000 beneficiaries have been credited in another batch of intervention funds cash transfers facilitated by the Senator representing Anambra Central Senatorial District, Uche Ekwunife as part of her continuous efforts to empower the people of the constituency and assist them in their businesses.

The cash transfers began to drop on the bank accounts of the beneficiaries who had applied at the constituency office on Friday, June 18, 2021. We therefore use this opportunity to urge constituents who had applied for intervention funds from the office to always check their phones regularly for acceptance messages, and subsequently expect the receipt of funds. Those who have taken delivery of the funds should report to the office for documentation and further assistance.

Constituents are at liberty to visit the Intervention Funds and Benefits Department of the Liaison Office, located at Senator Uche Ekwunife Centre, Opposite Udoka Housing Estate Awka to provide details which would assist the office in facilitating the various Federal Government’s intervention funds/benefits for them.

Senator Ekwunife’s resolve to ameliorate the sufferings of the people by offering a representation that is visible, impactful and purposeful remains unflinching. More beneficiaries are expected to be captured in the ongoing programme in the coming weeks.

Felix Nwezi,
Director, Intervention Funds and Benefits Department Anambra Central Liaison Office.

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Boko Haram Gets New Commanders

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Nigeria’s Boko Haram jihadist group has confirmed the death of its chief Abubakar Shekau, who sources say died during infighting with a rival Islamic State-allied faction, according to a video message from its presumed new commander.

In the short video in Arabic, top Boko Haram commander Bakura Modu, also known as Sahaba, urged his faction’s commanders to remain loyal despite the loss of their historic commander.

Shekau’s death was seen a major shift in Nigeria’s conflict, though Islamic State in West Africa Province or ISWAP has recently emerged as the dominant force in the more than decade-long Islamist insurgency in the country’s northeast.

The video, provided to AFP by a source close to Boko Haram and confirmed to be Bakura Modu by another local source, illustrates that jihadist infighting is far from over in Africa’s most populous nation.

Shekau, who gained notoriety after kidnapping nearly 300 schoolgirls in 2014, killed himself last month rather than surrender after IS-allied rivals attacked his base camp in Nigeria’s northeast Borno state, security sources said.

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President Buhari Gives Mikel Obi Juicy Appointment

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President Muhammadu Buhari’s led administration has appointed former Super Eagles captain, John Mikel Obi, as Youth Ambassador.

This was confirmed on Friday, at an event held at the National Stadium, Lagos, which was attended by the Minister of Youth and Sports Development, Sunday Dare.

According to the Special Adviser to Dare on Media, John Joshua-Akanji, Mikel Obi was described by the Minister as a “role model whose lasting legacies in football development has continued to have a positive impact on youths in the country.”

Mikel Obi was assured of Federal Government support whenever he chooses to invest in the country.

“Time will not permit me to say much about Mikel’s success as a footballer. He is our legend and a role model who has continued to impact the lives of youth positively.

“It is it my pleasure to appoint you as Nigeria Youth Ambassador. It’s a new portfolio and your role as youth ambassador will be made known to Nigerians,” Dare said.

In his response, Mikel Obi said: “I feel highly honoured to be appointed as Youth Ambassador of this country, it is a great feeling.

“I am happy with this partnership and I promise to do my best to encourage and inspire the youths towards national development, not just in football but in other sports like Basketball, Boxing among others.”

 

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