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Kano Assembly passes 5th constitution alteration bill

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Hamisu Ibrahim Chidari, Speaker Kano Assembly

 

 

The Kano State House of Assembly on Tuesday passed the 5th alteration bills on the review of the 1999 Constitution, while rejecting two out of the 44 bills.

The passage followed the adoption of each of the section of the Alteration Bill at plenary presided over by the speaker, Alhaji Hamisu Chidari in Kano.

The two bills included that seeking timeline for executive to present treaties for domestication and local government administration autonomy, while alterations adopted included financial autonomy for state legislature, judiciary, local government and independent candidacy among others.

Labaran Madari, House Leader moved for the adoption all the 42 alterations and was subsequently adopted by the lawmakers.

Speaking shortly after the plenary, Madari, said that the alterations were made to capture the present realities in the country and meet the yearnings and aspirations of the people.

2023: Kano Speaker, Chidari Wins APC’s Ticket For House of Reps

He said that the alterations would ensure that Nigeria has a progressive constitution that can guarantee development in the country.

The Senate and the House of Representatives had on March 1 voted on 66 5th Constitution Alteration Bills that bordered on good governance and devolution of powers.

The National Assembly transmitted the Bill to the 36 State Houses of Assembly for concurrence.

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Breaking News On Dollar Sale

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The Central Bank of Nigeria (CBN) has announced plans to offer foreign exchange worth $20,000 to any eligible Bureau De Change operator across the country.

This comes more than two years after suspended former CBN governor Godwin Emefiele prohibited the sale of foreign exchange to BDC operators in that area of the FX market.

The apex bank revealed this in a new circular published and signed by the Director, Trade and Exchange Department, Hassan Mahmud on Tuesday.

The circular titled, “Sale of Foreign Exchange to Bureau de Change Operators to meet retail demand for eligible invisible transactions” said the move aimed at rectifying the persisting distortions in the retail segment of Nigeria’s foreign exchange market and bridging the widening gap in the exchange rate.

It said the allocation will be sold at a rate of N1,301/$, reflecting the lower band rate of executed spot transactions at the Nigerian Autonomous Foreign Exchange Market as of the previous trading day, dated February 27, 2024.

The circular read, “Following the ongoing reforms in the foreign exchange market, aimed at achieving an appropriate market-determined exchange rate for the Naira, the Central Bank of Nigeria has observed the continued price distortions at the retail end of the market, which is feeding into the parallel market and further widening the exchange rate premium.

To this end, the CBN has approved the sale of foreign exchange to eligible Bureau De Change to meet the demand for invisible transactions. The sum of $20,000 is to be sold to each BDC at the rate of N1,301/$- (representing the lower band rate of executed spot transactions at NAFEM for the previous trading day, as of today, 27th February 2024.

All BDCs are allowed to sell to end-users at a margin NOT MORE THAN one per cent (1 per cent) above the purchase rate from CBN.”

It further directed eligible BDCs to make Naira payments to the designated CBN Foreign Currency Deposit Naira Accounts and submit confirmation of payment, with other necessary documentation.

“All eligible BDCs are directed to make the Naira payment to the designated CBN Foreign Currency Deposit Naira Accounts and submit confirmation of payment, with other necessary documentation, for disbursement at the appropriate CBN Branches ABUJA, AWKA, LAGOS and KANO,” it added.

The CBN in frantic efforts to save the free fall of the naira has made a number of significant reforms towards addressing Naira depreciation, such as probing and clearing FX backlog, limiting forex for foreign education and medical tourism, increasing BDCs’ minimum share capital, and curbing FX speculators, among others.

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Northern Senators Commends ECOWAS Leaders For Lifting Sanctions On Niger Republic

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Abuja. – Today, the Northern Senators Forum expresses it’s heartfelt appreciation and commendation to the exceptional leaders of the Economic Community of West African States (ECOWAS) for their decisive action in lifting sanctions imposed on Niger Republic as a result of military takeover on 26th July, 2023. We are pleased to see that ECOWAS has responded to the progressive requests made by us individually and collectively on the subject matter, and we commend their prudent and compassionate approach in addressing these critical issues.

The Northern Senators Forum believes that the principled and empathetic decision made by ECOWAS to lift the sanctions on Niger Republic is a testament to the organization’s commitment to regional solidarity, cooperation, and respect for human rights. We understand that this action will go a long way in alleviating the suffering of the people of Niger Republic, as well as ensuring the restoration of stability and economic prosperity in our region.

We are particularly grateful that ECOWAS leaders have considered our pleas to restore electricity, open borders, and lift the sanctions on Niger Republic. These measures will not only have crucial humanitarian implications, but will also foster regional integration, trade, and cooperation. We firmly believe that this step taken by ECOWAS will positively impact the lives of the people of Niger Republic and Nigeria and facilitate the restoration of trust and harmony among all member states.

As representatives of the people and advocates for justice and democracy, we commend ECOWAS for their responsiveness and understanding of the immense challenges faced by our fellow West African nation. The Northern Senators Forum stands in solidarity with ECOWAS IN restoring democracy and rule of law in Niger Republic and other west African countries, and we are committed to working to promote stability, peace, and socio-economic development throughout the region.

The Northern Senators Forum urges the government of Niger Republic and its people to seize this opportunity to hasten the process of returning to democratic governance to build a stronger and more prosperous nation, harnessing their resilient spirit and unwavering determination. Furthermore, we urge all regional stakeholders to continue engaging in dialogue and pursuing peaceful solutions to address any remaining concern, fostering a harmonious environment for progress and development.

Finally, the Northern Senators Forum would like to reiterate its deep appreciation to ECOWAS leaders especially President Bola Ahmed Tinubu of Nigeria for their proactive and benevolent intervention in lifting the sanctions imposed on Niger Republic. We are confident that this decision will leave an indelible mark on the collective consciousness of all West African nations and serve as a shining example for resolving differences through dialogue and diplomacy.

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BREAKING: ECOWAS lifts sanctions against Niger, Mali, Burkina Faso

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President Bola Ahmad Tinubu addressing the Extraordinary meeting of ECOWAS heads of state in Abuja,Photo:Channels TV

 

The Economic Community of West African States (ECOWAS) has lifted sanctions imposed on Niger Republic, Mali, Burkina Faso, member nations that are ruled by military.

The authorities of ECOWAS on Saturday said the decision was based on humanitarian considerations, especially because of the Lenten period and the approaching month of Ramadan.

The regional bloc also lifted sanctions on Republic of Guinea-Bissau.

To invite all four countries to a meeting.

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