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Benue Youth Summit Not Partisan–Ortom

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The Chief Press Secretary to the Benue state Governor Terver Akase has described as non-partisan the youths summit organised by the state government for youths in the state. 


Akase also urged those playing politics over the idea of the Youths Summit to shelve such mischief saying, it was for the good of the state.

 
Akase in a Press Statement issued Wednesday said it was mischievous and misleading for anyone to insinuate that the Youth Summit was a PDP summit.
 


He said the Youth Summit is aimed at availing youths of the state from all walks of life the opportunity to interface with the State Government on issues affecting them to arrive at solutions to such challenges.

He advised those playing politics with the Youth Summit to also remember that the challenges facing Benue State do not affect only one political party, region or religion. 


Akase further stated that one of the key members of the Steering Committee of Summit is the All Progressives Congress youth leader in Benue State.  
He noted that there are  several subcommittees of the Summit to which members of different political parties belong.

“When EndSARS protests erupted recently across the country, the agitation and destruction that followed did not affect only one political party, individual or group. 


“The task of developing Benue State and addressing its challenges is the responsibility of all Benue people. 


“We advise those desperately giving political colorations to the Youth Summit to rather prepare memoranda and send to the summit Steering Committee as their contribution to addressing the youth question,” he added.

Foreign News

Earthquake Shakes Western Greece

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A strong earthquake has shaken western Greece on Friday morning, but no casualties reported.

The Greek Geodynamic Institute in Athens, said the 5.8 magnitude quake occurred at 9:12 am (0812 GMT) local time.

The epicentre of the quake was about 20 kilometres below the seabed off the west coast of the Peloponnese peninsula near the islet of Stamfani, also known as Strofades.

It was preceded by a smaller quake with a magnitude of 4.

1.

Greece’s Civil Defence organisation did not initially say whether there were any casualties or damage to buildings.

A tsunami warning was not issued.

“We felt the tremors very strongly,” a resident of the nearby Olympia region said, adding that

“everyone here is on the streets.

 Local media reported that many schools had been evacuated as the quake was felt throughout western Greece, and on the tourist island of Zakynthos and as far away as Athens, about 300 kilometres away.

The deepest point of the Mediterranean Sea is located between western Greece and Sicily in Italy, with a depth of over 5,000 metres.

The African and European tectonic plates meet in this region, which make it prone to strong earthquakes. (dpa/NAN)

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Tinubu’s Refusal to Celebrate 72nd Birthday Mark of Good, Great Leadership – Aide

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Mr Tunde Rahman, a Senior Presidential Aide to President Bola Tinubu, says the President’s refusal to celebrate his 72nd  birthday due to challenging times in the country is a mark of good leadership.

Rahman made the remark in a statement signed by him on Friday, in Lagos.

The President directed that  there should be no celebration of any kind, including placing newspaper, radio or television advertorials in his honour.

The President  urged anyone wishing to do such for him to donate the money to charity organisations.

According to Rahman, the decision was taken in deference to the present challenging times which  is a mark of good leadership for a leader  to have compassion for the people, identify with them and demonstrate he shares in their pains.

The presidential aide  described the President as an individual who is compassionate and emphatic toward the pain of others.

He recounted how Tinubu had on several occasions,  shelved his birthday celebrations just to identify with the weak and vulnerable in the society.

“In March 2020, on the cusp of his 68th birthday, the President cancelled his birthday colloquium over the outbreak of coronavirus,

“The President said the decision was important amid the overriding public concern over the pandemic.

“Also, on his 70th birthday in March 2022, Tinubu called off an ongoing birthday colloquium to honour victims of Abuja-Kaduna train attack.

“Likewise, in 2023, even after he had convincingly won the election, President Tinubu did not celebrate his birthday, saying he will devote the moment for reflection on the huge task ahead.

“This is a mark of good leadership for a leader worthy of that name to have compassion for the people, identify with them and demonstrate he shares in their pain,” he said.

Rolling out the achievements of the Tinubu led administration, Rahman said the President had instituted bold reforms,  notably the removal of fuel subsidy and the unification of the multiple foreign exchange rates

He assured that there is light at the end of the tunnel.

“Light is not only assured at the end of the tunnel, it is presently beginning to shine brighter and brighter through the tunnel.

“For instance, naira has continued its streak of rebound and steady appreciation.

“More remarkable is the courage, political will and personal commitment to effecting a change and improving the quality of life of the people in line with the Renewed Hope Agenda the President has brought to the fire.

“This shone brilliantly in his handling of hydra-headed problems.

“To speedily effect changes in the country’s security architecture and enhance safety of lives and property, the President, working in collaboration with state governments, has set up a high powered committee to draw up modalities for the introduction of state police.

“There is also the Pulaaku initiative, a non-kinetic effort aimed at addressing the root causes of farmer-herder conflicts and fostering national unity, ” he said.

Rahman also lauded the President’s order on releasing of N50 billion as operational fund for its immediate take off.

“The initiative, expected to revitalise the communities through the construction of residences, roads, schools, and essential facilities, will initially focus on seven states namely, Sokoto, Kebbi, Benue, Katsina, Zamfara, Niger, and Kaduna states.

“An executive order to further boost investment, create jobs and business opportunities in the oil and gas sector is in place while the Federal Government in collaboration with states,  again are engaging in mechanised agriculture among other initiatives,” he said.

Rahman stated that the Tinubu government is thinking and working frantically to ensure initiatives put in place were executed effectively and that his governance remained impactful and enduring.

The presidential aide, therefore, urged citizens to continue to play their part to  make Nigeria a prosperous nation. (NAN)

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New Banks’ Minimum Capital Requirement will Enable Long-term Loans, Says ex-ANAN President

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A financial expert, Dr Samuel Nzekwe, says the Central Bank of Nigeria’s (CBN) new minimum capital requirement for Nigerian banks will enable them to finance more long-term loans.

Nzekwe, a former President of the Association of National Accountants of Nigeria (ANAN), made this assertion in an interview with newsmen on Friday in Ota, Ogun.

NAN recalls that the Acting Director of the Corporate Communications Department of the bank, Mrs Hakama Sidi-Ali, on Thursday, in a statement, announced that the new minimum capital for merchant banks would be N50 billion.

Sidi-Ali also said that the new requirements for non-interest banks with national and regional authorisations are N20 billion and N10 billion, respectively.

For international authorisation, it was raised from N100 billion to N500 billion.

All banks are required to meet the new capital requirements within 24 months, beginning from April 1 to March 31, 2026.

Nzekwe commended the CBN’s decision to increase the minimum capital base of Nigerian banks, saying that move would enable them to fulfil their role as financial intermediaries effectively.

“It is a positive step as it will enable banks to finance large-scale investments in the country.

“For the economy to grow, we need strong banks capable of providing long-term loans, which sometimes require 10 to 15 years for repayment or even offering a five-year moratorium,” he said.

The former ANAN president highlighted the current difficulty faced by banks in financing long-term loans or major projects.

Nzekwe expressed optimism that this development would prompt the apex bank to inject more funds into the financial system.

This, he explained, would encourage more borrowing from banks and therefore stimulate the growth of industries.

He commended the CBN Governor, Yemi Cardoso, for raising the minimum capital requirement for banks to a new level.

The financial expert noted that the apex bank had structured it in a way that banks would not need to bring retained earnings to the capital base but generate new additional funds. (NAN)

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