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Reps direct CBN to suspend planned Cashless policy

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The House of Representatives on Thursday directed the Central Bank of Nigeria (CBN) to suspend the recently re-introduced cashless policy.

The House resolved to mandate the committee on banking to investigate the policy and report to the House in 4 weeks.

The decision followed a motion of urgent public importance moved by Benjamin Kalu

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Recall that the Central Bank of Nigeria (CBN) announced this week that the full implementation of the cashless policy will become effective from March 31, 2020.

The Cable reports that, at the plenary session on Thursday, the lower legislative chamber said the policy will lead to a significant decrease in credit extension by Nigerian money deposit banks.

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The lawmakers further said the policy will have negative impacts on small and medium enterprises “which are clearly the engine room for growth of the economy”.

In a circular released on Tuesday, the CBN had directed all deposit money banks in the country to charge 3% processing fees for withdrawals and 2% for deposits of amounts above N500, 000 for individual accounts.

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Corporate account holders will be charged 5% processing fees for withdrawals and 3% for deposits of amounts above N3 million.

The directive was, however, criticised by some Nigerians for various reasons.

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FG’s circular warning officials against leaking documents gets leaked

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The Head of Service of the Federation, HoS, Dr. Folasade Yemi-Esan, has written to the top officials of the Federal Government against leaking official documents, just as the circular conveying the warning was also leaked to the media.

The HoS, in a circular, numbered HCSF/109/S.1/120 and dated May 22, 2020, stated that leading official documents embarrasses the government, threatening those caught involved in the act with dismissal from service.

The circular, sighted by Tribune, was addressed to Chief of Staff to the President, Deputy Chief of Staff to President, Office of the Vice President, Ministers, Secretary to the Government of the Federation, Permanent Secretaries, and Service Chiefs/Inspector-General of Police.

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Others government functionaries who received the circular include Governor, Central Bank of Nigeria, Chairman, Federal Civil Service Commission, Chairman, Police Service Commission, Chairman, Code of Conduct Bureau, Chairman, Code of Conduct Tribunal, Chairman, Federal Character Commission, Chairman, Revenue Mobilization, Allocation & Fiscal Commission, Chairman, Independent National Electoral Commission, and Chairman. National Population Commission.

The rest recipients of the circular are Chairman, Independent Corrupt Practices and Other Related Offences Commission, Chairman, Federal Inland Revenue Service, Chairman, National Drug Law Enforcement Agency, Clerk of the National Assembly, Secretary, National Judicial Council, Auditor-General for the Federation, Surveyor-General of the Federation, Chief Registrar, Supreme Court of Nigeria, and Directors-General and Chief Executives of Parastatals/Agencies.

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Titled: “Unauthorized circulation of official documents/information on social media,” the circular pointed out that even documents which had been minuted upon were illegally released, describing the action as unfortunate.

It stated:

The attention of the Office of the Head of Service of the Federation has been drawn to the recent unfortunate unauthorised disclosure of official documents on the social media.

“In some cases, official documents that have been minuted on, are also leaked. This irresponsible and reckless action is an act of serious misconduct, with a penalty of dismissal from service, as provided for in Public Service Rules Nos. 030401 and 030402.

“The ugly development is embarrassing to the government and therefore, not acceptable. Any public officer caught engaging in this act of serious misconduct, will be severely dealt with in accordance with the provisions of the Public Service Rules.

“Permanent Secretaries are to draw the attention of all their staff to the contents of this circular and the consequences of breaking the rules.”

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JUST IN: Wike compensates victims, deceased families of 2019 elections

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Emergency rule: Some citizens plan to cause a breakdown of law and order in River state, says govt

Governor Nyesom Wike of Rivers State has compensated the victims and the deceased families of the 2019 general elections in the Abonema area of the state.

Speaking at a town hall meeting on Monday in Abonema with the victims, deceased families, and the council of chiefs, Wike said a sum of N450m released to the affected Ijaw communities.

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The governor added that the state government will commence the payment of the compensation from Wednesday, which will be sent to their account numbers.

It was gathered that 37 families who were affected will get N9m compensation each.

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JUST IN: Chris Ngige speaks on running for President in 2023

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The Minister of Labour and Employment, Chris Ngige, said he reserves the right to contest for any elective posts in 2023.

Mr Ngige said this while debunking reports that he was interested in contesting for the Anambra governorship election scheduled for 2021.

The former Anambra state Governor spoke in his hometown of Alor, Idemili South Local Government Area of the state on Sunday.

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He, however, noted that he is not interested in becoming governor since he is on a national assignment as Minister.

Ngige said:

“Yes, there have been speculations that I am eyeing the governorship of Anambra State. They have written about it in a lot of media. I am a politician. They have the right to speculate on my next move. My next move is very vast.

“Elections will come in 2023, I have a right to vie for any position. I can vie for Senate.

“I can vie for president if I so wish. Election will be coming in Anambra State, latest November 2021 to elect a successor to Obiano. I am not disqualified. I have a right to say I can run.

“I don’t have interest for now in Anambra governorship because I am on a national assignment.”

 

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