News
Oyo govt is technically bankrupt, says Makinde
Oyo state governor, Mr. Seyi Makinde is ready to collaborate with management of the University of Ibadan (UI), especially in the area of Public Private Partnership.
Governor Makinde expressed his administration’s readiness while playing host to the Governing Council and Management of the citadel of learning.
The essence of the visit by the Governing Council and Management of the institution was to congratulate him on his assumption of office
Makinde emphasised that “it is imperative for the state government and the University to collaborate.
He noted that the visit by the Governing Council and Management of the University of Ibadan was timely as the state is looking forward to ensure synergy between academia and state government.
According to him, “technically the government of Oyo state is bankrupt, hence the need for the present administration to re strategize”.
The governor also assured them that there would be a pronouncement on the Agbowo Shopping Complex that will benefit Agbowo community, University of Ibadan and Oyo state.
Earlier in their remarks, the Pro Chancellor,members of the Governing Council and Management of the University of Ibadan appreciated the governor for his personal donation of 25 million Naira given to the institution during the March 2019 rain storm that affected some parts of the university community few months
They urged him not to relent in his efforts toward assisting the University in the area of infrastructural development.
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.”
-
Opinion4 days agoTinubu’s Naira Miracle: Abracadabra or Economic Wizardry? | By Adeniyi Olowofela
-
Politics4 days ago
Why Oyo State cannot afford another 3 years of Makinde’s mismanagement of council funds
-
Politics1 week ago
APC Urges Fairness in Oyo LG Election
-
Politics5 days ago
Oyo LG Poll: APC Chairmanship candidate, Omotoso promises purposeful leadership
