News
Olubadan Declaration Review: Memoranda requests for beaded crowns.
THE Oyo State Government has stated that the massive attendance and response by various stakeholders to the ongoing Olubadan Declaration Review panel has justified and vindicated its action revealing that 91 out of the 118 memoranda received during the open sessions requested for additional beaded crowns while the remaining 27 hinged on the review of ascendancy into the Olubadan stool.
The government reiterated its position that the proposed review is not targeted at any individual or group of people, saying that it is for the development, modernization as well as growth of the traditional council of Ibadan, Ibadanland and the state in general.
It noted that change is the only constant in life, stressing that all parties will eventually be convinced of the sincerity of government’s proposition.
The government equally said that its action is within the ambit of the law of the Olubadan Declaration of 1957, assuring that it will be just and fair in examining the recommendations of the Justice Boade’s panel and align with the wishes of Ibadan people.
The State Commissioner for Information, Culture and Tourism, Mr. Toye Arulogun stated in a statement on Sunday that the action of the government has precedence and it is in tandem with the aspirations of the people, saying, “It is high time we reiterated our earlier position and put issues in proper perspective. The action of the government is backed by law, there are precedents, the governor has the power to review the declaration and most importantly the government is fulfilling the yearnings of the people.
“We are not being political with this issue and not targeting any individual. The purpose is to elevate the status of the Olubadan title and pave the way for the development and modernization of Ibadan chieftaincy and Ibadan towns and city. We are running an all inclusive government and our government believes in collective responsibility in the Ajumose spirit. Our decision to review the Olubadan Declaration of 1957 was a response to several calls by stakeholders and we will follow the principles of openness, fairness and justice,” Arulogun explained.
The government spokesman further disclosed that members of the Olubadan in Council, many high chiefs in Ibadan, stakeholders including Central Council of Ibadan Indigenes, Ibadan Elders Forum, Ibadan Progressive Union, Association of Recognised Mogajis, All the War Lords’ families in Ibadan and eminent individuals attended the sitting of the panel which lasted three weeks, pointing out that the panel received 118 memoranda during its sitting.
The commissioner, however explained that the panel, which finished its sitting on Friday June 23, 2017 and requested for four weeks extension, received 91 chieftaincy memoranda requesting for beaded crowns in Ibadan land, while the remaining 27 memoranda hinged on the review of ascendancy into the Olubadan stool.
According to him, “the support and participation the Justice Boade’s panel received shows that the government is on course with its action. We are not doing this unilaterally, all stakeholders are involved and they have showed their support. This does not give any indication to the recommendations of the panel’s reports and we are not interested in pre-empting what the report will be. We want the people to also wait for the outcome of the panel’s recommendations and we promise to be fair and just.”
He urged the people to see the government’s action from modernization and developmental view points rather than the political, emphasising that the yearnings of the people will always be superior to individual opinions and aspirations assuring that the government will not renege on its principles of openness, fairness, justice as well as the collective responsibility and all inclusiveness it is known for.
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.”
Dangote Petroleum Refinery has made headlines by announcing a further reduction in the price of diesel, dropping it from ₦1200 to ₦1000 naira per litre.
The refinery’s decision comes on the heels of its recent supply at a significantly reduced price of ₦1200 per litre, which was introduced three weeks ago, signifying a remarkable 30 per cent decrease from the previous market price of approximately ₦1600 per litre.
This substantial reduction in diesel prices at Dangote Petroleum Refinery is expected to reiterate positively throughout various sectors of the economy, potentially serving as a catalyst in alleviating the persistently high inflation rate in the country.
In a statement last week, Aliko Dangote, Africa’s wealthiest individual and the owner of the refinery, expressed his optimism regarding the potential impact of the price reduction on inflation in Nigeria.
“I believe that we are on the right track. I believe Nigerians have been patient, and I also believe that a lot of goodies will now come through. There’s quite a lot of improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has gone very aggressively up to about ₦1900,” he remarked.
As anticipation builds around the implications of this move by Dangote Petroleum Refinery, stakeholders and consumers alike remain hopeful for the positive effects it could bring to the Nigerian economy in the coming months.
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