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Akeredolu to Buhari, CBN: It is ill-timed, reverse naira redesign policy now
Governor Oluwarotimi Akeredolu, SAN, of Ondo state, on Tuesday, asked President Muhammadu Buhari to direct the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele to reverse the naira redesign policy now.
Governor Akeredolu maintained that both the new and old notes should be allowed to co-exist, noting that despite an existing court injunction, the old notes seem to have ceased to be legal tender in the country.
Receiving members of the Youth Directorate of the All Progressives Congress (APC) Presidential Campaign Council (PCC) led by Seyi Tinubu, the governor faulted the timing of the policy, stating that it is ill-timed, adding that the problem created by the naira and fuel scarcity has affected the ratings of the APC.
Seyi Tinubu is the son of APC Presidential candidate, Asiwaju Bola Ahmed Tinubu.
His words, “We have a problem we are facing in this country today. Our rating as a party is not that favorable. Let’s not deceive ourselves. Must it be now that we will have this financial policy?
“How? Fuel and everything? Things are not easy. This policy is not right at this time. It should be reversed. Reserve it and tell CBN that we are reversing it. Let old and new notes co-exist.
“Okada, taxis, banks are not taking old notes again. There is an injunction and everyone is behaving like there is no injunction. We have said that this man (CBN Governor) should be removed when he contested to be President. The man is not fit for that position. A man who attempted to be President will frustrate us at this time.”
Governor Akeredolu lauded Seyi Tinubu and his team for the rigorous campaign embarked upon for the success of the APC.
Appreciating the youths in the party for their relentless efforts, he hinted that youth will determine the outcome of the next week’s Presidential election.
“Your demographic shows that you occupy a larger percentage. You are the ones that will talk to yourself”, he said.
Akeredolu further maintained that the choice of Bola Ahmed Tinubu was premised on informed decisions based on his competence and track record.
“We didn’t waver when we said that the Presidency must come to the South. And when it got to the south, we didn’t waver when we said competence and track record are important. Our choice of Asiwaju was premised on the informed decision not because we are from the same tribe.” Governor Akeredolu added.
He, also hailed the State Youth Leader of the party, Ayo Olawande Wisdom for running the youth department effectively.
Earlier, Seyi Tinubu appreciated Governor Akeredolu for his commitment to youth development and inclusion.
“We have come to seek your approval to add to what you have done in the state already in terms of the campaign. We will be in Ondo for the next two days to meet with the youths.
“Thank you for all you have been doing for Ondo and Nigeria. Most especially for young Nigerians and youths in the state. With the work you have done, we know Asiwaju has no worries in Ondo State”, he declared.
The Governor was joined by the Deputy Governor, Hon. Lucky Aiyedatiwa; National Vice Chairman of party (Southwest) Hon. Isaac Kekemeke; Secretary to the State Government, Princess Oladunni Odu; Commissioner for Finance; Hon. Wale Akinterinwa; and the Director-General of the Project Performance and Implementation Monitoring Unit (PPIMU) Mr. Babajide Akeredolu
US car giant Ford on Wednesday announced 4,000 more job cuts in Europe, mostly in Germany and Britain, in the latest blow to the continent’s beleaguered car industry.
“The company has incurred significant losses in recent years,” Ford said in a statement, blaming “the industry shift to electrified vehicles and new competition”.
The move will affect 2,900 jobs in Germany, 800 in the UK and 300 in western Europe by the end of 2027, a Ford spokesman told AFP.
“It is critical to take difficult but decisive action to ensure Ford’s future competitiveness in Europe,” said Dave Johnston, Ford’s European vice-president in the statement.
The company also said it was adjusting the production of its Explorer and Capri models, resulting in reduced hours at its Cologne plant in the first quarter of 2025.
Europe’s car industry has been plunged into crisis by high manufacturing costs, a stuttering switch to electric vehicles and increased competition in key market China.
Germany’s Volkswagen has been among those hardest hit, announcing in September that it was considering the unprecedented move of closing some factories in Germany.
“The European automotive industry is in a very demanding and serious situation,” Volkswagen CEO Oliver Blume said at the time.
Ford had already announced in February 2023 that it was planning to cut 3,800 jobs in Europe, including 2,300 in Germany and 1,300 in Britain.
The company said then it was planning to reduce the number of models developed for Europe, concentrate on the profitable van segment and speed up the transition to electric vehicles.
Ford currently has around 28,000 employees in Europe with 15,000 in Germany, according to the company’s works council.
President Bola Tinubu has approved the dissolution of the Governing Council of Nnamdi Azikiwe University (UNIZIK), Awka, Anambra State, and the removal of the institution’s Vice-Chancellor, Prof. Bernard Ifeanyi Odoh, and Registrar, Mrs. Rosemary Ifoema Nwokike.
The council, chaired by Ambassador Greg Ozumba Mbadiwe, comprised five other members: Hafiz Oladejo, Augustine Onyedebelu, Engr. Amioleran Osahon, and Rtd. Gen. Funsho Oyeneyin.
A statement released on Wednesday by presidential spokesperson, Bayo Onanuga, revealed that the council was dissolved following reports of procedural violations in appointing the vice-chancellor.
According to the statement, the council had allegedly appointed an unqualified candidate, disregarding due process, which triggered tensions between the university’s Senate and the council.
The Federal Government expressed dismay over the council’s actions, emphasizing the need for adherence to the university’s governing laws in decision-making.
“The council’s disregard for established rules necessitated the government’s intervention to restore order to the 33-year-old institution,” the statement noted.
In a related development, President Tinubu also approved the dismissal of Engr. Ohieku Muhammed Salami, the Pro-Chancellor and Chairman of the Governing Council of the Federal University of Health Sciences, Otukpo, Benue State.
Salami was accused of suspending the university’s Vice-Chancellor without following the prescribed procedures, a move the Federal Ministry of Education had previously directed him to reverse.
Despite the Ministry’s directives, Salami reportedly refused to comply and resorted to issuing threats and abusive remarks towards the Ministry’s officials, including the Permanent Secretary.
The Federal Government reiterated that the primary role of university councils is to ensure the smooth operation of academic activities, strictly adhering to the laws establishing each institution.
Tinubu warned university councils against engaging in actions that could destabilize their institutions, as his administration remains committed to enhancing the nation’s education system.
The Ekiti State Government has reached an agreement with labour leaders in the state, signing a Memorandum of Understanding (MoU) for the payment of the N70,000 minimum wage approved by the Federal Government.
Addressing journalists at a brief ceremony in Ado-Ekiti on Tuesday, the Head of Service (HoS), Dr. Folakemi Olomojobi, announced that the payment would commence immediately.
She lauded Governor Biodun Oyebanji for prioritizing the welfare of workers despite the state’s limited resources.
“This development demonstrates the governor’s commitment to improving the livelihood of our workers,” Dr. Olomojobi stated, highlighting the proactive measures taken by the administration to ensure prompt implementation.
In their remarks, the Trade Union Congress (TUC) Chairman, Comrade Sola Adigun, and the Nigeria Labour Congress (NLC) Chairman, Comrade Olatunde Kolapo, expressed their appreciation to Governor Oyebanji for fulfilling his promises to workers.
They confirmed that the new minimum wage would apply to all cadres, including employees in ministries, parastatals, agencies, and pensioners.
The Chairman of the Joint Negotiating Committee (JNC), Comrade Femi Ajoloko, described the implementation as a fair and commendable adjustment.
“This decision reflects the governor’s magnanimity and his dedication to fostering a productive workforce in Ekiti State,” he said.
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