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2023: Obasanjo Abandons Kwankwaso,Endorses Peter Obi

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Former President Olusegun Obasanjo and LP Pres

Former President, Olusegun Obasanjo has openly endorsed the Presidential candidate of the Labour Party, Peter Obi, ahead of the February presidential election.

Obasanjo made this known in a new year message titled “My appeal to all Nigerians particularly Young Nigerians.”

The former president noted that none of the presidential candidates is a saint, but when compared on the knowledge, discipline and what they can offer, Obi has an edge.

“None of the contestants is a saint but when one compares their character, antecedent, their understanding, knowledge, discipline and vitality that they can bring to bear and the great efforts required to stay focused on the job particularly looking at where the country is today and with the experience on the job that I personally had, Peter Obi as a mentee has an edge.

“Others like all of us have what they can contribute to the new dispensation to liberation, restoration and salvaging of Nigeria collectively. One other important point to make about Peter is that he is a needle with thread attached to it from North and South and he may not get lost. In other words, he has people who can pull his ears, if and when necessary. Needless to say that he has a young and able running mate with clean track record of achievement both in public and private life,” Obasanjo said in a letter personally signed.

 

Many were surprised on former President Olusegun Obasanjo’s endorsement of  Peter Obi over his political Godson and former governor of Kano state Engineer Rabiu Musa Kwankwaso.

 

Chief Olusegun Obasanjo brought former governor Rabiu Musa Kwankwaso to more national limelight when he appointed him Minister of Defense in the year 2003 after his defeat in Nigeria’s General elections.

Political analyst are of the belief that there is a tremendous respect between Kwankwaso and Obasanjo as the former has never found criticising him or his policies since 1999.

During the PDP Presidential primaries in 2003 Kwankwaso backed Chief Olusegun Obasanjo against Late Kano state prominent politician Late Alhaji Muhammad Abubakar Rimi.

 

But with the endorsement of Peter Obi by Obasanjo speculation have been laid to rest ,but the former President may not have his way because he did not endorse the reelection of President Muhammad Buhari in 2019 but President Buhari won.

 

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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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