Connect with us

News

MAN Urges CBN To Remain Resolute On Its New Policy On Forex

Published

on

 

 

Manufacters Association of Nigeria (MAN) has thrown its weight behind the recent policy of the Central Bank of Nigeria (CBN) to withdraw foreign exchange from Bureaux De Change (BDCs) in the country.

MAN President, Engr Mansur Ahmed said this yesterday in Ilorin, Kwara state capital at the Annual General Meeting (AGM) of Kwara and Kogi states branch of the association.

The MAN boss who lamented the effect of activities of the BDCs on the manufacturing sector further noted that CBN policy would temporarily hike exchange rate, the country’s economy would be better for it.

He said foreign is not a commodity that should be taken to the market and traded.

“In the last few months, there have been efforts by the central bank to control the flow of foreign exchange for us to get more Forex in the manufacturing sector.

#

“The decision by the CBN to withdraw supply of foreign exchange from the Bureaux De Change is one that the manufacturing sector is fully in support of.

“Foreign exchange is not a commodity that should be taken to the market and traded. Its availability is intended to allow those that are producing goods and services to bring in the necessary materials and equipment required in order to produce those goods and services at affordable prices”, he added.

Engr Mansur said the action of the CBN on foreign exchange is most welcome even if it is belated.

He said “In this regard, I affirm the support of the MAN for this policy as well as others polices in the infrastructure sector executed by the FG. The art of getting foreign exchange in the market, to me does not make sense.

“And yet we know that this process has indeed made huge sum of forex into the BDCs. We do not see how that will help the economy.

“Certainly, if the foreign exchange is made available to our manufacturing companies, more young people will be employed and the companies will operate at higher capacity and more industries will be created while lot of the raw materials needed will be readily available

“So if you have to sell forex to traders in the market as if it is a commodity, you are denying the manufacturing sector these vital resources. The law of forex as it was being done is not sustainable.

“According to the CBN report, the number of BDCs exploded between 2005 and 2021 from 74 to over 6,000. Assuming giving $20,000 to BDCs weekly, this will amount to over $600m of forex weekly going into the market instead of going into industries to produce goods and services and create employment.

“How do you control the flow of forex in BDCs not to fall into the hands of those who will take it out of the country and go and stash in foreign bank or go to the hands of those who use it to buy weapon and make our lives miserable expanding the scope of terrorism and banditry?

“So we welcome this change by the CBN and ask that the central bank remain resolute. We are aware that this initiative was part of the reason for the recent hike in forex rate. We believe it is going to be temporary.
“Those who are using it for importation of drugs and arms and ammunition will pay anything to get it. Our message is that the CBN should remain resolute and continue to look for ways that those illicit flows can be contained for more forex to be directed to industries and to genuine legitimate users which it is supposed to be for”, he added.

Earlier, Kwara and Kogi state chair of MAN Bioku Rahmon urged the Federal Governemnt to apply quick remedies to support for the country’s industrialists.

Mr. Rahmon bemoaned the high and fast-rising Nigeria’s debt profile and sundry other challenging plaguing the manufacturing sector.

News

NGO Criticizes Police Over Disrespectful Address of Kano Emir

Published

on

 

The Coalition of Concerned Kano Civil Society Groups (CCKCSG), a collective of organizations advocating for justice, cultural preservation, and good governance in Kano State, has expressed strong disapproval of the Nigeria Police Force’s (NPF) handling of the ongoing Kano Emirate dispute.

The group condemned the police for referring to His Royal Highness, Emir Muhammadu Sanusi II, as “Alhaji Sanusi,” describing the act as disrespectful and undermining the sanctity of one of Nigeria’s most esteemed traditional institutions. This criticism was conveyed in a press statement issued by Nura Idris, the group’s coordinator.

“The Kano Emirate is a centuries-old institution that symbolizes our cultural heritage, spiritual leadership, and communal unity,” Idris stated. He further criticized the police’s decision to summon Emir Muhammadu Sanusi II to the national headquarters in Abuja following the Eid al-Fitr durbar in April 2025. Idris argued that this move, later withdrawn after public outcry, reflected political interference and an attempt to diminish the Emirate’s authority.

The coalition highlighted the constitutional mandate of the Nigeria Police Force to uphold law and order impartially. However, Idris pointed out that the police’s actions in the Kano Emirate tussle, including contradictory enforcement of court orders and selective bans on protests, suggested alignment with political interests. “Reports of federal interference and the deployment of military personnel in a state matter further fuel perceptions of bias,” he added.

#

Idris emphasized the need for the police to remain neutral in the ongoing dispute between Emir Muhammadu Sanusi II and Aminu Ado Bayero. He called for dialogue, cultural sensitivity, and legal resolution rather than heavy-handed enforcement. “The police must not allow themselves to be weaponized in this conflict,” he said.

The coalition also condemned the police’s reference to Emir Muhammadu Sanusi II as “Alhaji Sanusi” in official communications, describing it as a deliberate act of disrespect. “This strikes at the heart of our cultural identity,” Idris remarked. He demanded a public apology from the police and urged them to address the Emir by his proper title in all future engagements.

In his statement, Idris called on the Inspector General of Police, the Police Service Commission, and other relevant authorities to ensure the neutrality of the police in the Kano Emirate dispute. He urged the police to engage traditional leaders respectfully and focus on their constitutional role of protecting lives and property without prejudice.

The coalition appealed to all stakeholders, including government officials, traditional leaders, and the people of Kano, to prioritize dialogue and reconciliation over confrontation. “The Kano Emirate tussle has already caused significant unrest, with protests and clashes threatening the peace of our state,” Idris warned. He stressed that the police must avoid actions that appear politically motivated or culturally insensitive.

The Coalition of Concerned Kano Civil Society Groups reaffirmed its commitment to advocating for justice, cultural preservation, and good governance. Idris concluded, “We will continue to monitor the situation closely and will not hesitate to mobilize further action if the police fail to heed this call.”

 

Continue Reading

News

Killings: Kogi Women Stripped Naked

Published

on

 

 

Some angry women from Oke-Ere in the Yagba West Local Government Area of Kogi State came out on Wednesday to protest what they called the “endless reign of terror” in their community.

The women, many of whom are elderly, marched through the town with sad chants in a local dialect.

In a video sighted by PUNCH Online on Wednesday, they appeared half-naked, holding sticks and leaves as they cried and sang about the constant attacks, kidnappings, and killings happening around them.

They begged the government and security forces to step in quickly and stop the violence.

This protest comes not long after armed men kidnapped three people and injured four others along the Ayere-Kabba Expressway in March.

The injured victims were taken to St. John’s Hospital in Kabba for treatment

 

#
Continue Reading

News

Stop Dragging NBA into Kano Emirate Tussle – Barrister Nafisa Replies Gandu

Published

on

 

The Chairperson of the Northern Women Lawyers Congress Barrister Nafisa Abba has called on Badamasi Sulaiman Gandu to stop dragging the Nigeria Bar Association into the State Emirate Tussle which is before the court of law.

It would be recalled that the lawyer has advised Alhaji Muhammadu Sanusi II to tender his statement to the Police in regards to the sallah durbar incident that led to the lost of lives, reminding the Emir that he is not above the law.

But in a response, Badamasi Gandu, a lawyer, described the call as unprofessional and unbecoming of a member of the Kano Bar.

” I was amazed by the response of my colleague Badamasi Sulaiman Gandu, it’s so sad that a lawyer like him would go so low like this; lawyers are known for always being comprehensive to any matter before making their opinion.

#

As the Chairperson of Northern Women Lawyers Congress, we have the right to issue a statement, it’s our constitutional responsibility, we didn’t do that on behalf of the Nigerian Bar Association; it’s ridiculous that Badamasi is bringing NBA into the matter.

All we are saying is for Emir and his supporters to stop using faceless organisations on this matter.

Like I did, I wrote my name, and the organisation I’m representing is not a pseudonym.

Badamasi Gandu has taken side on the matter. Everyone knows that he is a kwankwasiyya supporter but just hiding under human rights activism.

It’s good that you have shown the world your true colour. ” She said.

The lawyer further maintains her stands that the Emir is not above the law while asking him to tender his statement before the police for the interest of peace and the rule of law.

Continue Reading

Trending