Friday, February 19, 2016

OUR FIRST LADY IS NOT DEAD - DICKSON'S AIDE

Governor Seriake Dickson's close ally has dismissed rumours of the demise of the wife of the governor, Dr. Mrs Rachael Dickson.

This was as a result of some information that went viral on the social Media which made the social media to go abuzz this morning and stirring up confusion over the true health situation of Dr. Rachael Dickson

Some online news platform had written of her demise with no disclosure of the cause of her death. However Dr. John Idumange, who is one of the Dickson's family social media aides quickly debunked the story.
He said "it's a wretched falsehood propelled by some wicked, cruel, frustrated and mindless haters who are envious of the robust support the first lady gives to her loving husband, Governor seriakei Dickson in serving the good people of bayelsa state.

It is important to recall that some frustrated and cruelled minded people in bayelsa state and Nigeria, have made telling lies , propaganda and paddling falsehood their stock in trade. We thought this would stop with the successful inauguration of governor Dickson for his second term in office but they don't want to stop.

He further went ahead to wish Dr. Mrs Rachael Dickson and every member of the first family of bayelsa state " good health, long life and driven grace to continue to render selfless service to bayelsans and humanity in general " in the statement.

MULTIPLICITY OF LEVIES AND PERMITS BY LG IS KILLING OUR BUSINESS

At the 5th Edition of the Lagos state Corporate Assembly tagged "A+ MEETS BUSINESS" that was held at the State House, Ikeja, Lagos, Nigeria on Thursday, 18th of February, 2016, the captains of industries and members of the Organized Private Sector(OPS) have cried out over multiple levies being collected from them by officials of Local Governments Councils in Lagos, Saying the levies disturbs and hamper their businesses. This came before Governor Ambode promised to streamline all levies collected by LGs in the state in order to curb harassment of the OPS by council officials.

The President Lagos chamber of Commerces and Industry, LCCI, Nike Akande, also lamented that the multiplicity of levies and fees collected by the LGs in Lagos state is too much, and she also buttress it that the manner in which it is being collected is frustrating and annoying. " we have issues with the manners in which the local government councils manage this aspect of their functions".

There are concerns about the method, the process and Transparency. there are several instances of arbitrariness in the imposition of levies. most often, these are at variance with approved rates. Some specific examples are:"Many organisations have suffered embarrassment following demands by Local council officials for Radio and Television permit and this comes with lots of arbitrariness with rates ranging from N50,000 to N200,000 per annum. Another issue is the Parking permit which differs from ranges of N100,000 to N500,000 per annum depending on the location and number of parking lots for the organization. There are instances where both the local government and the state government officials make demands on the same companies for parking fees. For companies in the small and medium enterprise categories, these demands could be so worrisome and burdensome.

Mrs Akande further appeals to the governor that "we appreciate the fact that the state government does not have direct responsibilities for the administration of local governments but we believe you can prevail on them for moderation of the fees, streamlining of the levies/permits and proper coordination between the states and local councils and information on approved rates and fees should be widely publicized to curb abuses, corruption and also allow for better planning by businesses"

She also lamented on the issue of movement of deliver vans, she said the situation is so bad that so of these vehicles carry as many as 13 stickers on their windscreens and that there are too many permits and licenses to be obtained. Ranging from:
1. Lagos drivers Institute License
2. Drivers license by the Road Safety
3. Local Government Permit
4. Hackney Permit and dual Carriage
5. Vehicles License
6. certificate of Road Worthiness
7. Barge Permit, Conductor's Barge
8. Vehicle Identification tag
9. Vehicle Radio and Television Permit
10. Vehicle Outdoor Mobile Environmental Sanitation Permit
11. Nigerian Police Emblem
12. Lagos state consolidated Emblem
13. Ministry of Transport Certification(MOT).

The LCCI president said "the copious permits and licenses will certainly create compliance problem. this has therefore created a problem of logistics for companies operating in the state, most of which are SMEs. The result of this scenario is that many of the delivery vans would not go out of the factory gates until very late in the day when they would be sure that the VIOs, Road Safety, Lastma and the LG officials have closed for the day."

The chairman of manufacturers Association of Nigeria, Man, apapa branch, Mr Babatunde Odunayo also lamented about the harassment by the LG officials who used touts to collect all manner of illegal levies from them under duress. "There is a cry as to who will save us from LG personnel and the highways. They extort us so much. we recognise that these permits are for revenue generation, but touts generate these permits and don't remit it to the state or local government pocket" he said.

Odunayo appealed to Ambode to allow his government work with LG to fashion out a blueprint for better collection of levies at the grassroots because the SME are suffering and the masses are complaining, rather than being harassed by touts and LG officials.

Our correspondence were able to meet with some of the OPS members after the event who suggested that if the local government election is conducted in the state, the local councils will be able to function very well and the issue of multiplication of levies being charged by LGs in the state might be addressed and corrected in some areas because the other political parties too will be able to win some local government areas.



BUHARI, OBASANJO, TINUBU ADVOCATE FOR TEACHING OF HISTORY IN SCHOOLS.

As a result of the vanishing sense of Nigerian history in both primary and secondary schools with its attendant consequences on their moral and psychological psyche, stakeholders and opinion moulders have canvassed urgent return to the subject to remedy the situation.


President Muhammadu Buhari, former president Olusegun Obasanjo and former governor of Lagos state, Bola Ahmed Tinubu, said that despite the current challenges facing the country, if the right steps are taken, the country could still regain its position in the league of nations. They said this at the Publication of a book titled "The Nigerian Century", The book is written by one of Nigeria's contemporary journalists, Mr Dare Babarinsa, at the Shehu Musa Yar'Adua center in Abuja yesterday, the stakeholders believed that the future of Nigeria is being threatened with the near erosion of cherished values of Nigerian history, saying that the situation calls for immediate action to stem the tide.

The President, who paid tribute to the founding fathers of modern Nigeria, also acknowledged the contributions of the post independence leaders, from Tafawa Balewa to goodluck Jonathan, noting that all of them had made their modest contributions to make Nigeria what it is today.

Former president Obasanjo was represented by a former Health Secretary, Chief Julius Adelusi Adeluyi agreed with the president that Nigeria required regeneration, stressing that the current state of affairs in the country was not in the overall best interest of the country's future.

According to him, "If we don't have a sense of history, planning and implementation become impossible. It comes across the ages". He said the timing of the book was apt because it has come at a time when the nation is in need of serious direction.

Tinubu, who was the chief presenter of the book, also warned of the possible consequences of ignoring the nation's past, saying. "Knowing little about Nigeria, our country, is a peril we cannot afford because ignorance can lead to wrong decisions and conflicts, believing that despite the many challenges, Nigerians have a lot to be proud of, but there is a danger lurking at the corner. Our youths are no longer studying History in primary and secondary schools.

Tinubu, who lamented a situation whee a section of secondary schools in Nigeria founded by foreign entrepreneurs teach history of foreign countries to the detriment of Nigerian history, said "We now have the despairing phenomena where foreigners set up secondary schools in Nigeria to teach history of foreign countries."We have British secondary schools teaching British history in Nigeria. We have Turkish schools teaching Turkish history in Nigeria, why then do we Nigerian schools in Nigeria will not teach our own history? How can our children be Nigerians if they don't know their own history?

If you are a Nigerian and you know next to nothing about Obafemi Awolowo, Ahmadu Bello, Nnamdi Azikiwe, can you claim to be an educated Nigerian? Yet some of these youths in 10 or 20 years time may become governors, ministers or even president. Unless we take caution and apply immediate action, there is rough road ahead".

PRESIDENT BUHARI TRAVELS TO EGYPT ON FRIDAY

A statement by the Presidential spokesman, Femi Adeshina said President Buhari, President Abdel-Fattah El-Sisi of Egypt and the Presidents of Togo, Sudan, Kenya, Gabon, Equatorial Guinea and the Prime minister of Ethiopia are among confirmed speakers at the Business for Africa, Egypt and the World Forum.


As a result of this President Muhammadu Buhari will be leading a high-power Nigerian delegation to Sharm El-sheikh, Egypt to participate in the Business forum. the forum which will open in the Egyptian resort town on Saturday, February 18, 2016, is organized by the Egyptian government under the auspices of the African Union Commission.

The objective of the forum is to accelerate private sector engagement and investment within Africa and promote the development of African ties and partnerships. The president of the African Development Bank, Dr. Akinwumi Adeshina who was the former minister of agriculture under the jonathan administration and the President/CEO of Dangote group, Aliko Dangote are also among the speakers of the business forum.

The President would be accompanied on the trip by the minister of foreign Affairs, Mr Geoffrey Onyeama and the Minister of Industry,Trade and Investment, Dr okechukwu Enelama. President Muhammadu Buhari will be returning back to the country at the end of the business forum.


Thursday, February 18, 2016

MAN KILLED HIS FRIEND AFTER SLEEPING WITH HIS WIFE

Lukman Jimoh woke up early enough to catch the glimpse of the rising sun. There are no thought about the Boko Haram war in the north eastern part of the country or the Biafra protest in the eastern part of the country as a result of where he resides. What concerns Lukman Jimoh more are the antics of mosquitoes and cockroaches that are part of the owners of kirikiri prison where he his now.


Lukman Jimoh aka oyeolorun is a 40year old man and has been arrested by the Lagos state police command for allegedly killing his bosom friend, Remi Oloyede aka Ora. He reportedly cut off Oloyede's ears and stabbed him in the neck and eyes during a fight on Monday on Adedoja street, Mushin, Lagos state.

Residents were said to have stayed away from the duo because they both wielded bottles in their hands, Oloyede died on the spot after losing much blood while his corpse was deposited in a morgue in the state. Jimoh, who after the incident was taken to a clinic for medical attention due to the injuries he also sustained, he was lated arrested by policemen from the Alakara police division.

According to witnesses, the men fought over the claim by the deceased that his friend betrayed him by sleeping with his wife. A resident, who spoke on condition of anonymity, said the two men had been friends for a long time. She said, "Oyeolorun and Ora have been friends for a long time now. They were both living on this street before Oyeolorun relocated to Sango, Ogun state, where he is staying with his family.

But about three years ago, Oyeolorun allegedly had sexual relationship with Ora's wife and he was very angry about it. From that time, he started looking for a way to get back at him for betraying him. To get even, he slept with Oyeolorun's first wife, but Oyeolorun had already divorced the woman, Ora was still angry and seeking revenge.

A community member, Adewale Baloye said people did not intervene because the duo were notorious for such fights. He said "It was around 2pm that I got a call that the men were fighting and by the time I got there, I saw mammoth crowd on the street. I saw Ora(Oloyede) on the ground, in a pool of blood. His ears had been cut off and his eyes were gone and I quickly called a community leader and i was informed that the police were on their way.

People took Ora in a tricycle to the Lagos University Teaching Hospital(LUTH), but the doctors turned them back at the gate, saying it was too late. They had to bring his corpse back to the area and from there he was taking to a mortuary.

The police then went to the local clinic where Oyeolorun(Jimoh) was receiving treatment and he was arrested.




OBASA SAID THE YOUTH ARE THE LEADERS OF TOMORROW AS DRAMA ERUPTED AT LAGOS ASSEMBLY.

Following the nominees that the Lagos state Governor, Akinwunmi Ambode nominated for the civil service commission positions, the speaker of the Lagos state house of assembly said that " we are always saying leaders of tomorrow, but when we they(young ones) lead, when the old ones don't want to leave.

Lagos state governor, Akinwunmi Ambode's nominee for the civil service commission on Tuesday visited the Lagos state house of Assembly for screening but in a dramatic fashion it was stalled. Ambode had in a letter penultimate Monday sent the list of five nominees for screening and confirmation. The nominees are:
1. Mrs Taiwo Oyemade(chairman)
2. Alhaji Wasiu A. Odeyemi(member)
3. Pastor Isreal Alagbe(member)
4. Mr. O.O. Osinowo(member)
5. Mr. Santai Arerilesere(member)

The Lagos state house of assembly speaker, Mudashiru Obasa, who called out d names, had in his concluding remarks said he hope that mr. O. O. Oshinowo was not in any way related to a sitting member, Hon. Bayo Oshinowo because the invitation of Oshinowo apparently rang a bell in the ears of some of the house members.

Hon. Bayo Oshinowo aka Agba egbe rose to inform the house that the nominee in question was actually is elder brother. He had thought the nominee will have an easy ride until the deputy majority leader, hon. Wahab Jimoh decided to play a fast one with a question that rocked the boat.

Hon. Jimoh said " sir, you are 73 years old. Do you think you still have the strength for such an appointment and what can you still contribute to the progress of our state at your age".

It was a question that didn't augur well with other lawmakers, including hon. Oshinowo, who quickly replied that age was no longer a factor, saying after all " our President Buhari is over 70 years.

The speaker of the house, Hon. Obasa acknowledge that though the house had agreed that Hon. Jimoh had made a valid point on the issue of age. And the youth deserve to also be giving some chance.

The nominee, who had served in the last five years argued in his response that experience always count in all matters.

Hon. Mudashiru Obasa later ruled that the house should suspend confirmation till another day and the house was adjourned.

PANIC AS PROTESTERS BLOCKED MINISTRY AND NASS ENTRANCE OVER VCs' SACK.

Members of a civil rights organisation, coalition of civil society Groups (CCSG) yesterday, blocked entrance to the National Assembly and Ministry of Education in Abuja protesting against the sacking of some Vice Chancellors(VCs) of Nigerian universities, which they described as illegal.

The chairman of the coalition, Bassey-williams Etuk, called on President muhammadu Buhari to relieve the Minister of Education, Mallam Adamu Adamu, of his appointment "because he knows nothing."

According to the statement of Mr. Etuk, the sacking of the VCs and their replacement with people mostly from the north has violated the federal character principle. One of the protesters carried a placard which reads "Six professors were taken from Bayero University, kano as replacement....Haba why?"

A petition to the Senate president, Bukola Saraki and Speaker of the house of Representatives, Yakubu Dogara, was received on their behalf by Dennis Maaji who is the National Assembly Deputy Sergeant At Arms.

The CCSG gave the Education minister 48 hours to reverse the sack and resign his appointment "because he doesnt seem to understand the workings of University system and administration" and the chairman of CCSG said they would be going to court to ensure that they stop the sack as the tenure of five of the sacked VCs were yet to expire. He also said the minister does not have any right to sack 13 vice chancellors.

WORLD CHEAPEST SMARTPHONE LAUNCHED IN INDIA

A little known Indian company launched a smartphone believed to be the cheapest in the world, targeting a market already dominated by low cost handsets. It is set to be sold at under 500rupees($7.30), domestic handset maker ringing bells' Freedom 251 smartphone is about one percent of the price of the latest Apple iphone.

Ringing bells was established on September 2015 and began selling mobile phones through its website some weeks ago under its Bell brand name. A spokeswoman said "This is our flagship model and we think it will bring a revolution in the industry".

Ringing Bells currently imports parts from overseas and assembles them in India but plans to make its phones domestically within a year, the spokeswoman said.

Cheap smartphones handsets, many of them Chinese made are readily available in the Indian market but but domestic competitors are making inroads, with models selling for less than $20.

India is the world's second largest mobile market and notched up its billionth mobile phone subscriber in October, according to the country's telecoms regulator. But in poorer Indian states such as Bihar, "teledensity"- the penetration of telephone connections for every hundred people is as low as 54 percent, with a stark urban-rural divide

Wednesday, February 17, 2016

REPAIR DEPLORABLE ROADS - SAYS FASHOLA.

The Minister of Power, works and Housing, Mr babatunde Fashola who was the former governor of Lagos state says Nigeria needs emergency action to guarantee a rapid turnaround of the deplorable road network in the country.

The former governor stated this while speaking with newsmen during the assessment of the deplorable condition of the 96-kilometer Ilorin-Jebba-Mokwa road yesterday.

We gather that the minister's convoy had to use a bush path to traverse the persistent traffic gridlock which often left many articulated vehicles and heavy trucks stranded for days. it was also gathered that the journey from Jebba to Ilorin, which is less than 100 kilometers, lasted four hours while many of the vehicles suffered malfunction due to the logjam.

Fashola said that the road must be rehabilitated urgently because it is one of Nigeria's "critical strategic economic roads". The minister also so said "what the nation needs now is an emergency action, not declaration of emergency."

"We have declared too many emergencies. this is the time to take emergent and sensible action."

The National assembly should fast track the passage of the budget so that we can address the ugly situation of our roads.

This is intolerable for the ordinary people because their businesses and sources of livelihood depends on this roads, so this can't continue, he said.

He also called for an amendment of the procurement law to increase the percentage of mobilization for road contracts to enable contractors deliver completed projects without delay. He said the mobilization should be increase from 15 percent to 40 percent for road contractors so that they can get enough materials to sites.

The minister also pledges that the ministry would judiciously deploy human and material resources to creatively restore quality roads in all sections of the country.




PDP SELECTS NEW PARTY CHAIRMAN

Former Governor of Borno State, Ali Modu Sheriff, has been selected by the National Caucus of the People's Democratic Party(PDP) to be the party's next national chairman.

Ali Modu Sheriff's selection would only stand if confirmed by the party's board of trustees, members of whom are currently meeting in Abuja.

He was elected two times as the governor of Borno state on the platform of the All Nigerian Peoples party(ANPP) in 2003 and 2007, defeating the PDP candidate Kashim Ibrahim Imam in the two election.

LASIEC PROMISES CREDIBLE LOCAL GOVERNMENT COUNCIL POLL

The chairman of the Lagos State Independent Electoral Commission (LASIEC) justice Abdul fatai Adeyinka(rtd) has said the lagosian should expect better performance from the commission in the local government election compare to the 2011 local government election.

He said this during the opening ceremony of a three days capacity building for workers of the commission in Ikeja on Monday.

The statement explained that the training on election administration was in partnership with the international foundation for electoral systems, with support from USAID and UKAID, and meant for the chairman, commissioners and management staff of the commission.

IFES is a united state based organization providing support for the entrenchment of democracy and Democratic values.

Adeyinka said lasiec is desirous of organising credible election, this is why lasiec decided to partner organization that could help.

He said, the partnership with IFES is a confirmation that the commission want to enhance the electoral process at the local government level in Lagos state.

We will ensure that the partnership with the organization achieve the objective of enhancing the credibility of election in the local government council in Lagos state. We will continue to strive to ensure transparency, fairness and strict adherence to due process in all our activities.

The Lasiec boss added that the commission would soon embark on retaining of electoral personnel, including the workers of the commission and ad-hoc staff to be engage for the conduct of the election in the councils.

He said many of the challenges encountered in the process of the previous elections, which resulted in litigation, were as a result of inadequate knowledge on the part of electoral personnel of the relevant laws n rules guiding the conduct of the elections. We intend to stop this.

He added that d commission will sensitize lagosians on the roled they were expected to play in the electoral process as good citizens.

He also stated that the Lagos state house of assembly would soon review some sections of the lasiec laws of 2008, with a view to empowering the commission for better performance.



FORMER UN SECRETARY GENERAL IS DEAD.

The United Nation has on Tuesday announced in New york, the death of former secretary general to the UN, boutros-boutros ghali of Egypt. He died at the age of 93.

Boutros boutros ghali was the UN's sixth secretary general of the united nation and he worked rigorously during his term. He served a single term in office between 1992 to 1996 instead of two term.

The Venezuela Ambassedor to the United Nation, Rafael Carreno announced is death to the UN security council without giving any detail of the cause of death. He will be missed by all for his outstanding leadership quality and achievements during his term in office.

Tuesday, February 16, 2016

PMB meets Pastor E.A Adeboye

President Mohammed Buhari and vice president Oshibajo meets the general overseer of the redeem Christian church of God, Pastor Enoch Adejare Adeboye.


They met at the presidential villa in Abuja and it was an impressive experience according to our source in Aso rock.

SWIFT MADE HISTORY AND LAMAR TOOK AWARDS

Taylor Swift made history on Monday as the first woman to win the top Grammy twice, but rapper Kendrick Lamar took home five awards and delivered an electrifying, politically charged performance that rocked the gala.

The top prizes on the music industry’s biggest night mainly went to mainstream chart-toppers, with Swift taking the Album of the Year prize for “1989” and the retro party anthem “Uptown Funk” winning Record of the Year.

Swift, who has transformed from country prodigy to pop superstar, won three prizes on the night, all for work off “1989,” which was one of the best-selling US albums of the past decade.

The 26-year-old, who has fashioned herself as a feminist campaigner, spoke to her legions of girl fans as she accepted her second Album of the Year award.

“I want to say to all the young women out there — there are going to be people along the way who will try to undercut your success or take credit for your accomplishments or your fame,” Swift said.

“But if you just focus on the work and you don’t let those people sidetrack you, someday when you get where you are going, you will look around, and you will know that it was you and the people who love you who put you there,” she said.

In 2010, Swift also accomplished a major feat when she won Album of the Year for “Fearless,” becoming the youngest artist to take the prize as she recorded it when she was 20.

Swift has also created waves in the music industry by becoming the pre-eminent foe of Spotify, the leading streaming service, which she charges is unfair by allowing a free tier.

The Recording Academy, which runs the Grammys, used the national broadcast to urge better compensation for artists, while stopping short of criticizing any company in the fast-growing streaming industry.

– Charged statement by Lamar –

While Swift won the top award, the most Grammys went to Lamar, whose album “To Pimp a Butterfly” offered an innovative meditation on race relations with infusions of jazz and spoken word.

Lamar, whose song “Alright” has become an unofficial anthem for protesters against police abuse, took five awards out of 11 nominations — the most nods for a single artist in one night since Michael Jackson earned 12 following his massive “Thriller.”

In a politically charged yet genre-spanning appearance, Lamar shuffled onto stage as part of a chain-gang as a jazz saxophone merged with a heavy guitar on “The Blacker the Berry.”

As his performance transitioned to “Alright,” Lamar — his face painted with a bruise — metaphorically walked back to his African roots in a performance with rhythmic dancers in traditional garb before a firepit.

“This is for hip-hop,” the 28-year-old Lamar said, receiving the award from gangsta rap legend Ice Cube. “We will live forever — believe that.”

– ‘Uptown Funk’ triumphs –

Record of the Year went to “Uptown Funk,” a dance track with echoes of early Prince by Mark Ronson featuring Bruno Mars.

Ronson, a longtime producer from Britain who has notably worked with superstar Adele, found unprecedented success in his own right with “Uptown Funk,” which spent a near record 14 weeks at the top of the US Billboard singles chart.

The 40-year-old Ronson, who also put on a well-received performance at last week’s Super Bowl, said he was still getting used to his success.

“I would be just as happy and proud if I produced it,” he said of the song, which also won the Grammy for Best Pop Duo/Group Performance.

“I’m a record producer, not a pop star,” he said.

English singer and guitarist Ed Sheeran won for Song of the Year, which recognizes songwriting whereas Record of the Year looks at overall singles, for “Thinking Out Loud” — a bare love ballad that has become a favorite at weddings.

Meghan Trainor, 22, won another key award, Best New Artist, after the breakthrough success of “All About That Bass,” her tongue-in-cheek doo wop take on weight struggles and self-acceptance.

Trainor broke down in tears as she accepted the award, thanking Epic Records executive L.A. Reid who signed her after hearing her perform “All About That Bass” on ukulele.

Alabama Shakes, the bluesy indie rock band defined by Brittany Howard’s thunderous voice, won three Grammys — Best Alternative Music Album, Rock Song and Rock Performance.

Alabama Shakes hail from the small town of Athens, Alabama where Howard was a postal delivery woman before the band made it big on a trip to New York.

– Lady Gaga transforms into Bowie –

The Grammys also paid tribute to a number of artists who recently died — chief among them the rock icon David Bowie.

Lady Gaga appeared to transform on stage into Bowie, her face merging into his thunderbolt logo, against a three-dimensional backdrop of space imagery befitting the Starman.

She sang a medley of hits including “Space Oddity,” “Changes” and “Let’s Dance” to guitar by Nile Rodgers of Chic fame, a longtime friend and collaborator of Bowie.

Other performers included British singer Adele, whose album “25” has smashed early sales records but came out too early for Grammys contention.

Adele sang her powerful new ballad “All I Ask,” although her performance was marred by a technical glitch when a microphone fell and she drifted out of tune.

“The piano mics fell on to the piano strings, that’s what the guitar sound was. It made it sound out of tune. Shit happens,” she tweeted.

One non-performer was the R&B superstar Rihanna, who canceled at the last minute, citing voice problems due to illness.

FG SACKS 24 HEAD OF AGENCIES AND PARASTATALS

It may well be good bye to yesterday as the federal Government sacked the heads of 24 Agencies and Parastatals. The secretary to government of the federation(SGF), Babachir Lawal, disclosed this in a statement. According to Lawal, the full list includes:

1. Nigerian Television Authority(NTA)
2. Federal Radio Corporation of Nigeria(FRCN)
3. Voice of Nigeria(VOA)
4. News Agency of Nigeria(NAN)
5. National Broadcasting Commission(NBC)
6. Petroleum Technology Development Fund(PTDF)
7. New Partnership for Africa's Development(NEPAD)
8. Nigeria Social Insurance Trust Fund(NSITF)
9. Nigerian Content Development and Monitoring Board(NCDMB)
10. Federal Mortgage Bank of Nigeria(FMBN)
11.Tertiary Education Trust Fund( TETFund)
12. National Information Technology Development Agency(NITDA)
13. Petroleum Equalization Fund(PEF)
14. Nigeria Railway Corporation(NRC)
15. Bureau of Public Procurement(BPP)
16. Petroleum Products Pricing Regulatory Agency(PPPRA)
17. Standards Organization of Nigeria(SON)
18. National Agency for Food and Drugs Administration and control(NAFDAC)
19. Nigeria Investment Promotion Council(NIPC)
20. Bank of Industry(BOI)
21. National Center for Women Development(NCWD)
22. National Orientation Agency(NOA)
23. Industrial Training Funds(ITF)
24. Nigeria Export-Import Bank(NEB)

This shake up is done in respect of the recent fight against corruption by the present government. The new head of agencies will be announced within the next couple of weeks.

THE FALL OF THE NAIRA

The issue of the depreciation of the naira has dominated economic concerns throughout Nigeria, from when the naira was declining from around $0.6 to $1.0 in the early 1980s to when the rate was being partly managed at the official rate during the last year of the Shagari era.

At the onset of the Buhari military regime, It was then around $1.12 to N1.0, then managed downwards gradually through this period to the Babangida military era of 1985 to 1993.
By the end of the 1985 budget period, the unresolved problem with the IMF on a reform package was being addressed by the new Babangida regime. Then coming down to the present President M. Buhari lead government where it is $1.0 to N345

The fortunes of the naira are determined, like that of any other currency, in a relatively free market by the level of demand of foreign exchange in relation to the level of supply. The quantum of foreign exchange is made up of foreign exchange earnings from oil and non oil products.

Inflows of foreign exchange from direct equity and portfolio investments, transfers from resident and non-residents including net tourism earnings and short, medium and long term credits disbursed within the Nigerian economy.

The demand for foreign exchange on the other hand is made up of the following in any given period, the foreign exchange component of projects in both the public and the private sectors, the need for general imports, the need for debt service in various currencies and the need for travel, transfers, donations etc. The foreign exchange component of projects has been estimated at around 75percent on the average for the Nigerian economy. It is of course higher in the production of some capital intensive goods and services and lower in the more labour intensive goods and services and lower in the more labour intensive areas of domestic production of goods and services.

The equation which shows the relationship between the supply and demand yields the exchange rate at that given point in time. observers of world trade and exchange statistics will note that with the abandonment of fixed exchange rate government, there are virtually constant changes in all currencies and exchange government all over the world on a daily basis.

A principal factor which has been responsible for the fall of the naira is therefore simply the continuous existence of excess demand for foreign exchange in relation to the available supply.The Naira yesterday suffered its biggest daily depreciation against the dollar as the exchange rate and rose to N345 per dollar in the parallel market. This represents N20 depreciation when compared with the closing exchange rate of N325 per dollar in the market on Friday. But the naira was relatively stable at the official interbank foreign exchange market as the interbank rate stood at N197.47 per dollar at the close of business yesterday. The naira also depreciated by N45 against the British pounds sterling as the parallel market exchange rate rose to 485 per pounds yesterday from N340 on Friday.

Bureaux de change sources who confirmed this developement attributed the sharp depreciation to increasing scarcity of the dollar and pound sterling in the market . According to an abuja based BDC operator who spoke on condition of anonymity. "The market is experiencing huge demand for dollars but there is no supply. E ven those who have dollars are not willing to sell. The way things are going, the rate might touch N350 per dollar before it will stabilizes". This developement widened the gap between the interbank rate and the parallel market rate to N147.53 per dollar from N127.53 per dollar last week.

The naira has been on steady decline since Tuesday, January 12th 2016, when the central bank of Nigeria(CBN) stopped weekly dollar sale to BDCs. Prior to this action, the naira traded at N265 per dollar in the parrallel market.Consequently the naira has depreciated by N80 in the parallel market since the CBN took the action.

The steady depreciation was also aggravated by the inability of the CBN to meet foreign exchange demand. Our findings reveal that the parallel market is been bedeviled with demand for foreign exchange from importers of the 41 items excluded from the official market by CBN last year as well as importers of items not excluded from the official market.

So in determining why the naira has fallen, we have to go back to the savings level, both domestic and foreign , the level and efficiency of investment, the level and growth of output, the level and growth rate of the distribution of income, the level and growth of employment. All of this factors will impact on living standards, on the level of infrastructure and on the tone of the social and political environment.

In all of these issues, informed leadership in its broadest sense, is a key starting point. Good governance,lack of corruption, accountability and efficiency in an open and transparent legal and security environment are all indispensable prerequisites.