Naira Redesign: Those Opposing and Abusing the Buhari Over Naira Redesign are Major Beneficiaries of the Buhari/APC Administration | Nigeria Updates- Breaking News, Nigerian News, Politics, Sports, Entertainment and Business - Nigeria Updates
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Naira Redesign: Those Opposing and Abusing the Buhari Over Naira Redesign are Major Beneficiaries of the Buhari/APC Administration




…Urges Nigerian Youth to Resist Efforts by Self-serving Governors and Politicians to Incite them Against the Government in Furtherance of their Private Political and Economic Concerns

….Commends CBN for Releasing Adequate Funds to INEC for the Execution of 2023 General Elections.

Chief Eze Chukwuemeka Eze Erstwhile National Publicity Secretary of the defunct New People’s Democratic Party (nPDP) and chieftain of the All Progressives Congress, says those trying to incite Nigerians against the federal government over the Naira redesign are rampaging saboteurs affected by the CBN new monetary policy who have huge cash criminally gotten from public funds stashed in warehouses, septic tanks and homes.

In a statement made available to media houses in Port Harcourt, Eze said the policy though a difficult one, is necessary and strategic in the restoration of the lost value of the Naira against convertible currencies and one would expect leaders across political divide to support the initiative. The Naira has a long history of progressive downward pressure in the forex market and efforts have been devised to bring it to par with its contemporaries in the money market.

The party Chief however stated that it is disappointing to learn that those who prided themselves as patriots and change agents, who rode to power through the change mantra and who have benefited so much from the Buhari/APC administration are the ones at the forefront of the war against this policy of the federal government because the policy is gradually rendering useless the wads of stolen money stashed in their safes and private warehouses.

He said self-serving individuals who are making very untoward and negative utterances in a bid to incite the people and usurp the authority of the President is unhealthy for the country.

It does appears in fact, that some Governors are running parallel federal governments in their respective states with the counter orders they have continued to dish out against the lawful directives of the President who is the commander-in-Chief and numero uno in the government of Nigeria.

For the Executive Governor of Kano State to turnaround and publicly declare that President Buhari and his administration for eight years didn’t achieve anything is very unfortunate. It is a comment made out of ill-will to serve personal interest.

In other words, the efforts of this administration in the areas of road and rail Infrastructure are no longer noteworthy. For the Governor of Kaduna State to issue a contrary directive to that of the Federal Government and inciting the poor masses against the APC administration is totally unacceptable.

If for the duration of over three months some economically powerful persons could not return the heavy wads of cash stored in their homes to their accounts, it clearly means that such calibre of Nigerians have ulterior motive in not returning such monies into the banking system.

Eze commended President Buhari’s insistence in ensuring that the 2023 elections are free and fair and credible, noting that one good legacy the APC administration will be leaving behind is the record of credible polls and the president must be commended for that.

He said those relying on the use of stoked-up cash to aid their vote buying mechanism to win election should replan or better still get ready to retire because corruption has lost its grip on Nigerian elections beginning from Saturday, February 25, 2023.

The party Chief commended the Central Bank of Nigeria for making cash available for the Independent National Electoral Commission (INEC) to execute the elections without a hitch and expressed confidence that votes will count and the will of majority will superintend at the end of the day.

He urged Nigerians to wash their eyes and ensure that those that have ruined our nation, who are glaringly pursuing personal interests are not brought to power for any reason whatsoever.

Eze expressed fear of the outcome of the general elections particularly if it doesn’t favour some of these elements that are sponsoring the destruction of our banks, they are capable also of causing serious havoc if the elections fail to favour them. In this case, the Security Agencies should up their game to avoid these elements from setting up this country on fire if they fail to win this election



Yemi Cardoso Assumes Duty as Acting CBN Governor







Dr. Olayemi Michael Cardoso, has formally assumed duty as the acting Governor of the Central Bank of Nigeria (CBN).

Following the resignation of Godwin Emefiele, President Bola Tinubu appointed Cardoso pending the confirmation of the senate.

Similarly, the Deputy-Governors-Designate have also assumed duty, in acting capacities, sequel to the formal resignation of Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Lametek Adamu, and Dr. Kingsley Obiora as Deputy Governors of the CBN.

Dr. Cardoso and his colleagues subscribed to the relevant oaths of office at a brief ceremony held at the Bank’s Head Office in Abuja, on Friday, and have since settled down to the task of administering monetary and financial sector policies of the Federal Government.

An Economic and Development Policy Advisor, Financial Sector Leader, former Chairman Citi Nigeria and Commissioner for Economic Planning and Budget in Lagos, Cardoso brings over three decades of managerial experience on board.

He is an alumnus of Aston University, Birmingham, United Kingdom, where he studied managerial and administrative studies.



He also holds a Master’s degree in Public Administration from the Harvard Kennedy School, United States of America.

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LCCI Unveils 2023 Lagos International Trade Fair, Reels Out Event Plans.







The Lagos Chamber of Commerce & Industry, the non-profit organization that promotes the interests of the business community in Lagos, has unveiled the 37th edition of the fair and reeled out the event plans for the week long activities scheduled to hold from Nov. 3 to Nov. 12th 2023.

Eng. Leye Kupoluyi, The Chairman, Trade Promotion Board, LCCI, on Thursday while addressing newsmen at a Press Conference, held at the Chamber House in Lagos, noted that the 37th edition with the theme, “connecting businesses, creating value” will be declared open by President Bola Ahmed Tinubu.

According to Eng. Leye, while reeling out the programmes lined up for the 10- days event said, this year’s edition of the event would feature ‘The Africa Hall Project’, an umbrella for businessmen and women within the African continent to come together under the same roof for 10 days.

He said, “The Africa Hall Project started six years ago as an umbrella for businessmen and women within the African continent to come together under the same roof for 10 days. It has been a successful adventure since then”.

Speaking further, Kupoluyi said that this year’s LITF would also feature an entertainment village in recognition of the contribution of the creative and entertainment industry to the Nigerian economy.

To mark the LCCI’s 135th anniversary, different specialised fairs would be held at the same time at TBS which will feature activities like the Children’s Corner, Tech Hub, The Africa Hall, United Asia International Exhibition Co. Limited Exhibition, The Japan External Trade Organization(JETRO), lagos Island Connect, LCCI Mentees, 3 Days Free Entry, Eng. Leye said.

“The LITF tech hub is a single pavilion that hosts techpreneurs, tech enthusiasts in telecoms, software, and Information and Communication Technology (ICT) to showcase their innovative products and services,” he said.

He said the the United Asia Exhibition Company was currently concluding logistics to host three different trade exhibitions at the event and urged Nigerian businesses on commercial agreements and distributorship deals.

“The Japan External Trade Organisation (JETRO) and the Japanese hall has become a major attraction at the Lagos international trade fair and there will be a three -day free entry for visitors at the fair this year.

“It is my sincere hope and expectation, that when the fair is declared closed by the Governor of Lagos, Mr Babajide Sanwo-olu, we shall all proclaim the 2023 LITF as the best so far in 37 years,” he said.

The sponsors and partners of the 2023 LITF are United Bank of Africa plc. (UBA), Japan External Trade Organisation (JETRO), United Asia International Exhibition co. Ltd.

Others are New Home Distribution Africa ltd. – distributors of Scanfrost and Sony Products in Nigeria, Dangote Group, FEDAN Investment Ltd, Lifemate Nigeria Ltd., Rite Foods, NCC, SON among others.

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NNPCL directs more management staff to proceed on early retirement







Following the recent exit of three Executive Vice Presidents of the Nigerian National Petroleum Company Limited, the national oil company has directed some management staff with less than fifteen months to proceed on early retirement.

The move saw some top management officials exiting the Company yesterday.

According to NNPCL, the early retirement is part of the company’s bid to pursue effective organizational renewal to support the delivery of its strategic business objectives.

The retirement of the top management staff is coming barely three days after the retirement of the Executive Vice President, Gas, Power and New Energy Abdulkabir Ahmed; Executive Vice President of Upstream, Engr. Adokiye Tombomieye; and Executive Vice President, Downstream Adeyemi Adetunji.

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