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New FX Policy Hurriedly Put Together without Proper Plans – Atiku

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By Johnson Eyiangho, Abuja

Former Vice-president Atiku Abubakar has said that the President Bola Tinubu’s new foreign exchange management policy was hurriedly put together without proper plans and consultations with stakeholders.

In a post on his X handle on Sunday, Atiku said that it is either the government failed to anticipate or downplayed the potential and real negative consequences of its actions.

“The Government did not allow the CBN the independence to design and implement a sound FX Management Policy that would have dealt with such issues as increasing liquidity, curtailing/regulating demand, dealing with FX backlogs and rate convergence.

“I firmly believe that if and when the Government is ready to open itself to sound counsels, as well as control internal bleedings occasioned by corruption and poorly negotiated foreign loans, the Nigerian economy would begin to find a footing again,” the former Vice-president said.

He vowed that he would not keep quiet in the face of the Tinubu-led administration “sufficient poverty of ideas” and wrong policies which are causing untold hardship to Nigerians and distress to the nation’s economy.

He said that if the government will not hold on to their usual hubris, there are ways that the country can walk out of the current crisis.

Atiku said that if he were the President, he would have encouraged the Central Bank of Nigeria (CBN) to adopt a gradualist approach to FX management. 

According to him, a managed-floating system would have been a preferred option.  In simple terms, in such a system, the Naira may fluctuate daily, but the CBN will step in to control and stabilize its value.

“Such control will be exercised judiciously and responsibly, especially to curb speculative activities.

“Why control, you may ask: Nigeria has insufficient, unstable, and precarious foreign reserves to support a free-floating rate regime. Nigeria’s reserves did not have enough foreign exchange that can be sold freely at fair market prices during crises.

“Nigeria is not earning enough US$ from its sales of crude oil because its production of oil has been declining. And,

“Nigeria is not attracting foreign investment in appreciable quantities.

“These are enough reasons for Nigeria to seek to have a greater control of the market, at least in the short to medium term when convergence is expected to be achieved,” he said.  

Atiku noted that the meeting with the 36 state governors on Thursday, February 15, 2024 to address the Foreign Exchange crisis and the problem of economic downturn, among others, President Tinubu failed to showcase any concrete policy steps that his administration is taking to contain the crises of currency fluctuation and poverty that face the country.

He said rather, the President told the country and experts who have been offering ideas on how to resolve the crisis that “he and his team should not be distracted and allowed time to continue cooking their cocktail that has brought untold hardship to the people of Nigeria”.

The PDP candidate in the February 25, 2023 Presidential Election said he knew that at the twilights of the Buhari administration the economy of the country was heading for the ditch hence he  came up with a number of policy prescriptions, including control FX management, that would rescue the country from getting into the mess that we are currently in.

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Nigeria at 66: Which Way Nigeria?

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By Tochukwu Jimo Obi

Sixty six years after independence, Nigeria should be asking itself a question that can no longer be postponed: what exactly has become of the great promise of our nation? A country blessed with enormous human and natural resources should not, at this stage of its journey, still be struggling with problems that ought to have become distant memories.

As we mark 66 years of independence, this should be more than another occasion for colourful ceremonies, patriotic speeches and celebrations.
It is a time for sober reflection as a people, to examine where we are, where we ought to be and, most importantly, how best to move Nigeria forward.

Undoubtedly, Nigeria is not where it used to be. There have been significant developments in different sectors of the economy and society, and successive administrations have introduced policies and programmes aimed at addressing the country’s challenges. However, we must also acknowledge that we are certainly not where we ought to be, considering the enormous human and natural resources available to us. A nation blessed with abundant natural resources, a large youthful population and considerable human capital should be able to provide a higher standard of living for its citizens.

At 66, Nigeria should have no reason to still be battling with inadequate power supply, dilapidated roads, massive unemployment and widespread hunger. These are challenges that have persisted for decades, despite the huge resources committed to addressing them. While some of our past and present leaders may have done, or may still be doing, their best, the reality remains that their efforts alone have not been enough to solve the numerous problems bedevilling the nation. What Nigeria requires is sustained commitment, effective institutions, accountability and policies that go beyond individual administrations.

Corruption and insecurity also continue to pose serious challenges to national development. Resources that should be channelled towards infrastructure, education, healthcare, job creation and other essential services can be undermined by corruption and poor accountability. Similarly, insecurity discourages investment, disrupts economic activities and threatens the lives and livelihoods of citizens. We cannot continue like this as a nation. There must be a collective determination to strengthen institutions, uphold the rule of law and confront the factors that continue to undermine national development.

Unfortunately, the people themselves appear to have become accustomed to many of these perennial problems. This has contributed to a situation where some citizens fail to demand accountability from leaders or make effective use of their democratic power during elections. Democracy gives citizens the opportunity to choose their representatives and to replace those whose performance does not meet their expectations. Elections should therefore be about competence, integrity, policies and the ability to serve the public interest, rather than personal loyalty or temporary benefits.

Sycophancy has also become increasingly visible in our political space. Some people praise leaders excessively for personal gain, defend actions they would ordinarily condemn and, in some cases, sell their votes during elections, only to complain about bad leadership afterwards. Citizens must understand that leadership and followership are interconnected. When voters trade their electoral power for immediate personal benefits, they may be contributing to a system that makes it more difficult to demand responsible governance later. The ballot should be treated as an important instrument for shaping the future of the country.

As Nigeria marks this 66th anniversary, our leaders at all levels must put the interest of the nation at the centre of their decisions and actions. Religious, political and ethnic considerations should not be allowed to take precedence over the collective interest of Nigeria. Diversity should be a source of strength rather than a reason for division. Those entrusted with public office must remember that political positions are temporary, while the consequences of decisions taken in office can affect generations yet unborn.

The people also have an important role to play in moving Nigeria forward. Citizens must obey the law, reject corruption, participate responsibly in elections, demand accountability and contribute positively to their communities. Professionals must give their best in their respective fields, young people must be encouraged to pursue productive opportunities, and the private sector must continue to contribute to economic development. Nation building cannot be left entirely to government. Every Nigerian has a responsibility to contribute to the Nigeria we desire.

At 66, the question, therefore, is not simply which way Nigeria, but what kind of Nigeria do we want to leave for the next generation? The answer lies in our collective willingness to change the things that have held us back, strengthen the institutions that sustain democracy and development, and place national interest above personal, political, religious and ethnic considerations. Nigeria has the resources, talent and potential to achieve greatness. What is required is the collective will to translate that potential into reality. As we celebrate 66 years of independence, let us renew our commitment to building a peaceful, prosperous and united nation. Nigeria shall be great again.

Tochukwu Jimo Obi, Obosi Anambra state.

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Customs Recruitment: Nearly 3,000 Candidates Screened Without Casualty

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By Tambaya Julius, Abuja

The Nigeria Customs Service (NCS) has concluded the final phase of its 2025 recruitment exercise, with nearly 3,000 shortlisted candidates undergoing screening in an exercise the Service said recorded improved coordination and efficiency.

The two-week exercise, held at the Training and Doctrine Command (TRADOC), Gwagwalada, Abuja, commenced on September 7 and ended on September 19, 2026.

Candidates shortlisted for the Assistant Superintendent of Customs II (ASCII), Inspectorate and Customs Assistant cadres underwent documentation, physical fitness assessments and medical screening as part of the final stages of the recruitment process.

The exercise was conducted in batches, a measure introduced by the Service to reduce congestion and ensure smoother movement of candidates through the various screening points.

Speaking on the exercise, the Assistant Comptroller-General of Customs in charge of Human Resource Development, Frank Onyeka, said the Service had addressed challenges identified during the earlier phase of the recruitment process.

According to him, measures were introduced to improve coordination and reduce congestion at the screening centres.

“We have put measures in place to reduce congestion and ensure a smoother process this week. The gaps identified last week have been addressed, and we do not expect them to recur this week,” Onyeka said.

He urged candidates to remain disciplined and comply with the procedures established for the exercise.

The Service also introduced personalised screening forms as part of efforts to strengthen verification and minimise discrepancies in candidates’ records.

The Deputy Comptroller of Customs and member of the recruitment coordinating team, Adamu Musa, said each shortlisted candidate was provided with a form containing personal information and details required for the various stages of the screening.

He said the approach represented a departure from the previous system in which candidates received forms at the screening venue.

“Any candidate that has been shortlisted has a form designed especially for him, unlike in the past where you come, they issue you a form, and then some people along the way go and even change some of the records,” Musa explained.

According to him, the forms contained candidates’ names and other details covering sports, medical assessment, documentation and related requirements.

“So, once the candidate comes, you just verify what you already have from the system,” he added.

Musa said the new arrangement had made it easier for officials to authenticate candidates’ information while reducing opportunities for alterations and discrepancies.

The recruitment team also assessed candidates against established requirements, including age, physical fitness and drug screening.

Musa disclosed that candidates who test positive for hard drugs, exceed the stipulated age requirement or are found to have physical conditions that could affect their ability to perform their duties may be disqualified, subject to the final decision of the Service’s management.

He also stressed the importance of continuous recruitment and manpower development, noting that the expanding responsibilities of the Customs Service require personnel capable of responding to emerging challenges.

According to him, a well-trained workforce remains important to the Service’s responsibilities in national security, border protection, revenue collection and trade facilitation.

The Service also warned candidates and members of the public against relying on unverified information about the recruitment exercise.

Musa urged applicants to obtain recruitment updates only through the official communication channels of the Nigeria Customs Service, including its official website and verified social media platforms.

He warned that fraudsters could exploit the recruitment process by circulating fake announcements, misleading applicants or making unauthorised demands.

The warning comes as the Service moves towards the next stages of the recruitment process following the completion of the final screening exercise.

With the introduction of personalised forms, batch screening and tighter verification procedures, the NCS said it had strengthened the process to improve efficiency, reduce congestion and protect the integrity of the recruitment exercise.

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Post Recapitulation: NAICOM Holds First Quarterly Staff Meeting

By Tony Obiechina, Abuja

The Commissioner for Insurance, Olusegun Ayo Omosehin, at the weekend presided over the Quarterly Staff General Meeting of the National Insurance Commission (NAICOM), the first such gathering since the successful conclusion of the insurance industry’s recapitalization exercise.

The meeting brought together management and staff to review the achievements recorded during the recapitalization programme and to align on the Commission’s strategic direction for the period ahead.

Participants also used the occasion to discuss issues bordering on staff welfare, institutional effectiveness, and the overall growth of the organization.

In their deliberations, the Commission reaffirmed its commitment to stronger regulation and supervision of the insurance sector, continuous capacity building for staff, and sustained operational excellence.

NAICOM said in a statement on Saturday that the resolutions reached at the meeting would help drive the emergence of a more resilient, competitive, and trusted insurance industry in the country.

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