News
Ex- international football star, Weah sworn in as Liberian president
George Weah, an ex- international football idol has been sworn in as president of Liberia, the first peaceful democratic transfer of power in the West African country in more than seven decades.
Weah won 61.5 percent of the votes in December’s election run-off, defeating outgoing vice president , Joseph Boakai who garnered 38.5 percent of the ballot.
According to the election commission, voter turnout, as gathered was 55.8 percent, which translates to over 1.2 million people.
The former world footballer of the year succeeded Ellen Johnson Sirleaf, Africa’s first elected female president. Weah, in 2002 joined active politics after retiring from football and contested for the presidency in 2005 losing to Sirleaf.
It would be recalled that the last peaceful transfer of power between two democratically elected presidents took place in Liberia in 1944, when president Edwin Barclay was replaced by William Tubman.
The swearing-in ceremony which took place at a stadium near the Liberian capital, Monrovia was well attended by several African and foreign dignitaries, including heads of state from Ghana, Nigeria, South Africa, Mali, Ivory Coast and Guinea.
Liberians regard the 51-year-old as a hero for his incredible rags-to-riches tale. He was born in a slum in Monrovia, but achieved fame in international football.
Also, Weah promised to eradicate corruption in the country of four million people and boost the weak economy since Liberia was described as one of the poorest countries in the world with 80 percent of the population living on less than $1.25 a day.
Monrovia, its capital is highly dependent on exports of iron ore and rubber, which have recently dropped steeply in prices. The country is also trying to overcome the effects of the Ebola outbreak, which left more than 4,000 people dead.
Former Chairman of the Nigerian Communications Commission (NCC), Prof. Adeolu Akande, has extended warm felicitations to Barrister Sarafadeen Ali, the Senator representing Oyo South Senatorial district, on the occasion of his 61st birthday.
In a statement released on Saturday in Ibadan, the Oyo state capital, on Saturday, Akande lauded the lawmaker, describing him as a luminary whose life has been marked by distinguished service to the nation.
“Today, I join the world in celebrating you on your special day, as you mark 61 years of God’s abundant love and glorious impact on humanity,” the former NCC gaffer expressed.
He added, “I wish you many more years of God’s grace in your life.”
The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.
The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.
Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.
He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.
“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.
Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.
While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.
Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.
He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”
Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.
He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”
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