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Senate On Collision Course With CBN , To Debate Cash Withdrawal Policy Today

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The Senate is not lying low on the recent approved cash Withdrawal policy of the Central Bank of Nigeria

Only last Friday it drilled two deputy governors of the Apex Bank over the policy

The two CBN Deputy Governors, Mrs Aishat Ahmad, and Mr. Edward Lametek Adamu went through a screening exercise for their renomination for a second tenure

But despite detailed information provided the senate committee on banking and financial institutions which handled the exercise about the genuine intentions of the apex bank concerning the policy, at yesterday’s plenary, some senators kicked , insisting that the cash policy issue must not be swept under the carpet, rather it must be debated

The upper legislative chamber has however agreed to debate the policy Today after Senator Adamu Bulkachuwa (PDP Bauchi North), warned that the report of the Committee on Banking, Insurance, and Other Financial Institutions, chaired by Senator Uba Sani (APC Kaduna Central) must not be swept under the carpet.

But a member of the Senate committee on Banking and financial institutions, Senator Olubunmi Adetunmbi (APC Ekiti North) had told his colleagues of the absence of the panel chairman, who is the APC governorship candidate in Kaduna State and currently attending the North West zonal presidential campaign rally of the party in Kaduna.

He explained that the committee chairman ought to present the report of the screening exercise conducted for the two CBN Deputy Governor-nominees, Mrs Aishat Ahmad, and Mr. Edward Lametek Adamu and the inquiries concerning the withdrawal policy sought by the Senate

Recall that both Ahmad and Adamu, the CBN Deputy Govs. were recently reappointed by President Muhammadu Buhari and were billed for Senate’s screening and confirmation for their second and final tenure

Ahmad, who is the CBN Deputy Governor on Financial System Stability, during the screening exercise had explained details of the policy to the panel

Details of the explanation given by the CBN chief was to be presented for debate alongside the screening exercise on Tuesday by the senators.

However, Senator Adetunmbi said the debate could not take place again because of the absence of the panel chairman.senator UBA Sani

“Exactly a week ago the senate resolved that the committee on banking and financial institutions should come forth today to report on the enquires that it was mandated to make of the new policy of the Central Bank on the withdrawal limit.

“The committee was specifically mandated to interrogate these issues based on the concern that was expressed in the chamber, with the two deputy governors that were coming for clearance.

“This took place on Thursday last week. Two candidates came for clearance and the issues were thoroughly looked into especially in the opening remarks of the chairman.

“He specifically reported that the senate the they made the two deputy governors to elaborate on the issue the rational behind this policy in view of the massive public reaction to that policy.

“The deputy governors gave elaborate explanation and the committee also requested for further evidence in terms of documented reports that were that will enable the committee to fully understand the issues behind this policy during the plenary appropriately.

“Unfortunately the report is not ready today because the chairman of the committee is busy on political assignment where has will receive very special politicians in the presidential he is coming tomorrow to present the formal report of the committee.” he pointed

This explanation did not go down well with the Senator Bulkachuwa, who said the fact that the panel didn’t submit its report should not stop the Senate debate on the CBN Nara withdrawal limit policy.

“We should not allow this thing to be swept under the carpet, it is a very serious issue and Nigerians are waiting to see what the Senate will do like the House or Representatives.

“The House of Representatives have asked the Governor of the Central Bank to stay action on this, leaving it till tomorrow is giving him another and another excuse and I urge this Senate to discuss this thing today,” he said.

The Senate President, Dr. Ahmad Lawan, ruled Senator Bulkachuwa out of order and insisted that the matter would be debated today (Wednesday).

He said: “I don’t think it is fair to say we are sweeping the matter under the carpet. To sweep something under the carpet in my understanding means to avoid it.

“Nobody here suggest by action or inaction that we are avoiding discussion on this matter.

“I think it is appropriate to give the Chairman of the Committee opportunity to come and present his report personally and Senator Adetunmbi is a member of the Banking Committee.

“The Vice of the Committee who is the Chief Whip is here and they are all in attendance.

“They have something to tell us. The chairman want to present the report himself and when he does that, we will be better informed and we can take appropriate action.

“Tomorrow is less than 24 hours by the grace of God. Please distinguished Senator Adamu Bulkachuwa, I want you to be present so that if there is anything that you want all of us to know even as all of us here feel strong about this.

“If we are going to debate it, let’s do that on the basis of information because that is when we can argue it and say no, stop it because of superior argument. So, let’s not doubt our sincerity here.”

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Press Release : Okpebholo Denies Sacking Civil Servants As Alleged By PDP

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The statement issued by the factional chapter of the PDP in Edo is a joke taken too far. The PDP is yet to recover from the crushing defeat it suffered during the 21st September governorship election in Edo State.

Governor Monday Okpebholo, since his inauguration on Tuesday, has since hit the ground running and trying to fix the mess created by the immediate-past MoU governor of Edo State, Godwin Obaseki.

For the records, the statement released on Wednesday by the Governor of Edo State, Senator Monday Okpebholo, did not sack any civil servants. Besides, no Governor sacks civil servants through a media pronouncement.

Those asked to go were appointees of the last administration in the State. The factional PDP in Edo State is ignorant, and its members need to be gainfully engaged.

Anyone in the State’s civil service that is an appointee has nothing to fear. But if you are a product of the last MoU government and appointed by Obaseki, the rule of law must stand.

Signed:
Fred Itua,
Chief Press Secretary to Edo State Governor

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Edo Gov Directs Police Commissioner To End Cult Clashes Within 48hrs

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…….Bans Drivers Welfare Association, Network Empowerment

Edo State Governor, Senator Monday Okpebholo, on Thursday, directed the state Commissioner of Police to halt the violent cult clashes in the State within 48 hours.

The Governor also banned Drivers Welfare Association and Network Empowerment in the State, in a statement signed by Fred Itua,
Chief Press Secretary to the Governor

He directed the Commissioner of Police to instruct his officers and men across the various formations to immediately swing into action and halt the unnecessary bloodbath.

On Wednesday, the Governor had ordered the immediate and indefinite suspension of collection of all revenues in Edo, especially in motor parks and others, until further notice

The Governor had noted that he would review the issues surrounding the collections soon and decide on the way forward.

“As the Governor of Edo State, cultism can not be allowed here. We must end it and very fast too. I have ordered the Commissioner of Police to halt the madness within 48 years. All those involved in the killings should be stopped.

“Some associations that are causing trouble in the State, especially in Benin City, cannot be allowed to operate here. They all remain banned, and the Commissioner of Police must ensure that his men carry out this instruction by giving teeth to this ban

“Edo must be safe. That was one of my key priorities during the campaigns, and I plan to ensure that we restore it at all costs. We will not fold our arms and allow them to create unnecessary tension,” the statement read.

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Gov Okpebholo Orders Immediate Freezing Of State Bank Accounts

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……..Abolishes Roads and Bridges Ministry, Reverts to Ministry of Works

Governor Monday Okpebholo of Edo State, on Thursday, ordered the freezing of all State-owned bank accounts with immediate effect, until further notice.

The Governor has also warned commercial banks, heads of Ministries, Departments and Agencies (MDAs) to comply with the order immediately without any delays.

In a statement signed by
Fred Itua, Chief Press Secretary to Edo State Governor, Okpebholo warned that anyone, including heads of MDAs and civil servants who flout the order will be severely punished.

“All bank accounts in all the commercial banks have been frozen. Commercial banks must comply with the order and ensure that not a dime is taken out of the confers of Government until there is a further notice.

“Heads of Ministries, Departments and Agencies must comply with this order and ensure that there is a full compliance without any further delays.

“After the necessary investigations and reconciliations, the Governor will do the needful and decide on the way forward. For now, this order stands,” the statement read.

In the meantime, the Governor has asked the relevant Government agencies to reverse the Ministry of Roads and Bridges to the Ministry of Works. The reversed infamous name was conceptualised during the administration of Godwin Obaseki.

Governor Okpebholo, said since no bridges or good roads were constructed by the administration of Obaseki, it is therefore absurd to maintain such a name.

The Governor, has therefore ordered relevant government agencies to implement the new order and immediately reflect the new name.

“It is funny how you can call a Government institution Ministry of Roads and Bridges. Ironically, no single bridge was built by the same administration. Not even a pedestrian bridge.

“In the coming days, we will look at more actions taken by the previous administration and more decisions will be taken that will be done in the best interest of the State,” the statement concluded.

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