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CBN Denies Non-Remittance Of 80% Surpluses

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CBN Denies Non Remittance Of 80% Surpluses-Crystal News

The Central Bank of Nigeria (CBN) has denied the allegation that it failed to remit 80 per cent of its operational surpluses into the Consolidated Revenue in the last five years.

Dr Kingsley Obiora, CBN Deputy Governor in charge of Economic Policy, said this at the senate public hearing on 2022-2024 Medium Term Expenditure Framework (MTEF)  in Abuja.

Obiora was reacting to an allegation by Sen. Solomon Adeola (APC-Lagos) that the CBN has not remitted its operational surpluses for five years.

He said 80 per cent of the apex bank’s operational surpluses had always been remitted to the CRF on yearly basis.

Obiora explained that the remittance was done in line with the provisions of the Fiscal Responsibility Act (FRA) and not that of the CBN Act, which stipulated 75 per cent remittance.

“With due respect to the Senate and in particular to this committee, the CBN, as a law-abiding government agency, has not at any time defaulted in the remittance of its operational surpluses.

“We do this on a yearly basis as required by the Fiscal Responsibility Act, despite the fact that the CBN Act requires us to remit 75 per cent only, ” he said.

Responding, Adeola urged the CBN to produce documentary evidence to prove its remittances to the committee on Sept. 3.

He also urged the apex bank to produce its audited account for the last five years.

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Sanwo-Olu Appoints Prof. Ibiyemi Olatunji-Bello As LASU VC

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Tunji Bello’s Wife, Prof. Ibiyemi Emerges LASU VC-Crystal News

Governor, Babajide Sanwo-Olu has appointed the wife of the Lagos State Commissioner for Environment and Water Resources, Professor Ibiyemi-Olatunji Bello as the ninth substantive Vice-Chancellor of the Lagos State University, LASU, Ojo.

The Professor of Physiology (Lagos State University College of Medicine) had served as Acting Vice-Chancellor of the institution before her elevation.

She becomes the ninth Vice-Chancellor of LASU after an exercise laced with intrigues and suspense.

Details later…

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FG To Lift Twitter Suspension Soon

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FG To Lift Twitter Suspension Soon-Crystal News

The Federal Government of Nigeria has announced that the ban on Twitter will soon be lifted.

Minister of Information and Culture, Alhaji Lai Mohammed, confirmed this development when he fielded questions from State House correspondents on Wednesday in Abuja.

According to him, a lot of progress has been made in the ongoing dialogue with Twitter.

“I think even Twitter itself two days ago gave what I will call a progress report on our talks with them, and I think if I want to quote them rightly `it has been productive and quite respectful’.

“And as to the qualifying word for when or how soon, I want to assure you that the time that Twitter operation has been suspended, (I meant) between the time it has been suspended, and when it will be restored is by far, much, much shorter.

“That I can assure you that it is by far in other words, if the operation has been suspended for about 100 days now, I can tell that we’re just actually talking about a few, just a few more days now.”

The minister stressed that both parties were focused on reaching a conclusion on the matter.

“What we’re trying to do is the changes that have been going on, but we need to dot the ‘i’s’ and cross the ‘t’s’, but I can assure us that we’re not unmindful of the anxiety of Nigerians and both parties are working very hard to put a closure on the matter.

“And like Twitter itself said the changes have been very, very productive on both parties. It has not been advisory at all. And it’s quite respectful,’’ he said.

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Our Director Not On Terrorist Financier List — 9mobile

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9mobile-Crystal News

The Management of 9mobile has reacted to media reports that one of its directors is on the United Arab Emirates (UAE} list of terrorist (Boko Haram) sponsors.

According to a press statement cited by Crystal News, 9mobile said that one Abdurrahman Ado Musa, who is on that list is not a director of the mobile telecommunications company.

Some Nigerians were included on the list said to have been ratified by the Emirate Federal Capital. One of the names on the list and that the media has latched on is Abdurrahaman Ado Musa.

In its clarification, 9mobile said “We, however, wish to clarify that the so-named individual is not 9mobile’s Executive Director, Regulatory & Corporate Affairs, Abdulrahman Ado. The resemblance in names is purely coincidental, and our Director does not bear ‘Musa’.

“Our Director, Abdulrahman Ado, is a respectable law-abiding Nigerian. He served the country diligently in public service for over three decades before transferring his services to the private sector.

“He served in various capacities and was Pioneer Vice-Chairman of the Nigerian Electricity Regulatory Commission and Executive Commissioner, Licensing and Consumer Affairs, Nigerian Communications Commission.

“As a law-abiding company that believes in the greatness of Nigeria, and the well-being of all its citizens, 9mobile would never accommodate any undesirable element within its management and staff.

“We urge the general public to kindly disregard the mistaken identify media reports making the rounds”

ICYM: High Profiled Nigerians Enlisted As Terrorist Sponsors- UAE Report

UAE authorities named 6 Nigerians as financiers of terrorist organizations including the Boko Haram sect and other criminal activities.

The 6 persons mentioned had been previously tried and sentenced in UAE with various prison terms after a federal appeals court upheld their convictions for funding the terrorist groups.

The decision was taken when the UAE federal cabinet met in Abu Dhabi on Monday after which they issued Resolution No. 83 of 2021, designating a total of 38 individuals and 15 corporate sponsors on its approved list of persons and organizations supporting Boko Haram and other terrorist causes.

The 6 Nigerians who are part of the list include Abdurrahaman Ado Musa, Salihu Yusuf Adamu, Bashir Ali Yusuf, Muhammed Ibrahim Isa, Ibrahim Ali Alhassan and Surajo Abubakar Muhammad.

The 38 names on the list are mostly Arabs from the Middle East.

UAE news agency reported that the resolution underscored the country’s commitment to target and dismantle networks that finance terrorism and its related activities.

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