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Oyo Govt To Partner MAX NG/YAMAHA To Improve Transportation



Oyo Govt To Partner MAX NG/YAMAHA To Improve Transportation

The Oyo State government on Tuesday reiterated its readiness to partner MAX NG/YAMAHA Corporation, Japan to develop the transport sector in the state.

The governor, who hosted the management of the MAX NG/YAMAHA Corporation, Japan at the Head of Service, Conference Room, Secretariat, Ibadan, said the company’s vision and mission were in tandem with the vision and dream of the state.

A statement by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, indicated that the governor was represented by the Secretary to the Government, Mrs. Olubamiwo Adeosun.

He noted that the administration in the state was doing a lot across different sectors and would continue to explore opportunities wherever it could come from in order to develop the economy of the state.

He said: “A lot of what you are doing definitely resonates with our vision and dream in Oyo State. There are four main pillars we are pursuing and I can see that the summary of what you are doing can key into the pillars as we are looking at health, education, economic expansion through agribusiness and on top of all that is security. We must secure our land to ensure that investors like you are safe.

“Congratulations on the assembly plant that you launched today and I wish you all the best. I am also glad you have had a good time with all the government officials you have met in the state. If there is an issue as you expand your business in Oyo State, feel free to approach me or other government officials that you have met.

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“As you rightly said, we are a pacesetter state and we mean business. So, there is a lot that we are doing across different sectors in line with our vision and priorities and we will continue to explore opportunities of where we can do more.”

The governor explained that recently the government commissioned the Ultra-Modern Okada and Tricycle loading points to facilitate the easy transportation of residents in the state capital and to boost the transportation sector

“Even in the transportation sector, around last week, we launched motorcycles and tricycles loading points, which is a pilot scheme.

We understand that we need them today as a vital part of our transportation, but how do we organise them? How do we get data?

How do we make it safe and secure so that it can become what people can admire?

“That is the pilot scheme and if it works well, we will be extending it to other parts of the city and other parts of the state entirely.

“I also heard you talk about electric cars. This is exciting, because even if we keep dreaming that Nigeria has plenty of fuel, oil, fossil and all that, we will continue to drive on the path we are and the world is going to leave us behind.

“So, we look forward to partnering with you in so many areas as you expand your business in Oyo State,” he said.

Earlier, the Executive Assistant to the governor on Administration, Rev. Idowu Ogedengbe, had on behalf of Governor Makinde commissioned the assembly plant of the company, which it said would be the basis for the future production of all the various innovative products the company would be bringing into Oyo State.

While speaking at the commissioning, Ogedengbe said: “This is a means through which our young people will be gainfully employed.

The company will be giving the tricycles and three-wheelers to willing employees or business persons at virtually no cost. What they only need is to get a good recommendation.

“You will recall that the governor, a few days back, commissioned the ultra-modern park for tricycles and motorcycles at Agodi and, for us, we are mindful of developing the modern transportation sector.

“We know that, globally, tricycles and motorcycles are means of transportation. So, rather than ban them in Oyo State, we want to see how we can integrate them into our system in a way that will be efficient and globally acceptable.

“Max.NG came to make a proposal to His Excellency that they would like to partner with us to ensure that as the government is expanding the infrastructure in the transport space, they are also bringing in the modern transport equipment to support the aspiration of the government.

“They are starting with tricycles, three-wheelers, and motorcycles.You come, pick your tricycle and pay over a period of 18 months. You pay at your convenience; from Mondays to Fridays and people don’t even need to pay on weekends.

“So, you can see that their system is quite accommodating, as they also have different strategies in terms of taking care of the health care of their beneficiaries.”

In his comments, the co-founder of MAX.NG, Mr Adetayo Bamiduro, said that the company had plans for the state in the area of financial inclusion, mobility transportation, logistics, identity management, data and mobile application development for the progress and economic development of the state.

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NLC Directs Officials To Monitor Banks Over Cash Scarcity



BREAKING: Old Naira Notes Deadline Stays - Emefiele
CBN Governor Emefiele


The Nigeria Labour Congress (NLC) has directed its officials across the country to go round and monitor cash dispensing situations at the commercial banks.

This is coming ahead of today’s National Executive Council, NEC meeting, leaders of orfficials of state councils of NLC and industrial union affiliates are to take pictorial evidence of the actual situations at the banks, “whether the banks are dispensing cash or not, and report same to the NLC headquarters.”

The monitoring which ends by 12.30 pm will enable the NEC meeting that will commence by 1:00 the Labour House, Abuja, takes a final decision on tomorrow’s planned nationwide strike over the cash crunch in the country.

The National leadership of NLC gave the directive yesterday (Monday, March 27).

An official of NLC who spokelsaid, “Yes, the directive was given yesterday. Union leaders are to go around their areas to monitor commercial banks this Morning before 12.30pm and show pictorial evidence of the situation at the banks.

“Whether they are dispensing cash or not. The pictorial evidencesl are to be forwarded to Congress headquarters to be us assess the activities of Commercial banks before the NEC meeting by 1pm to enable us take a final decision on tomorrow’s planned industrial action.”

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BREAKING: Old N200, N500, N1,000 Notes Remain Legal Tender Till Dec 31 – CBN



In compliance with a ruling of the Supreme Court, the Central Bank of Nigeria (CBN) has declared that old N200, N500, N1,000 banknotes remain legal tender till December 31, 2023.

The apex bank’s Acting Director of Corporate Communications, Isa AbdulMumin spoke in a statement on Monday. This is coming 10 days after the Supreme Court ruled that old naira notes should co-exist with new ones till the end of the year.

“In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and by extension, the operations of the Central Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3, 2023.

“Accordingly, the CBN met with the Bankers’ Committee and has directed that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.

“Consequently, all concerned are directed to conform accordingly,” the statement read.

The highest court of the land had on March 3 ordered that old N200, N500 and N1000 notes remain valid till December 31, 2023.

This was after 16 states of the federation instituted a suit to challenge the legality or otherwise of the introduction of the policy.

The 16 states led by Kaduna, Kogi and Zamfara had prayed the apex court to void and set aside the policy on the ground that it is inflicting hardships on innocent Nigerians.

The Supreme Court subsequently ruled that President Muhammadu Buhari’s disobedience of its February 8 order is a sign of dictatorship, adding that the President breached the Constitution of the Federation in the way he issued directives for the re-designing of the Naira by the CBN.

After the March 3 judgement by the Supreme Court, the Presidency, CBN and the AGF kept mum, throwing many bank customers and Nigerians into confusion as the ruling of the apex court contradicted the directive of the President on February 16 that old N500 and N1000 notes are banned and old N200 notes remain valid till April 10.

However, the Presidency broke its silence on Monday, saying the President never told the CBN and the AGF not to obey the order of the apex court.

“The CBN has no reason not to comply with court orders on the excuse of waiting for directives from the President,” the Presidency noted.

According to the Presidency, the President is an absolute respecter of the rule of law and that the “negative campaign and personalised attacks against the President by the opposition and all manner of commentators is unfair and unjust.”

The CBN had extended the deadline for the swap of old N200, N500, and N1,000 from January 31 to February 10 following complaints by many Nigerians but the Supreme Court, after a suit filed by the states, held that the Federal Government, the CBN, commercial banks must not continue with the February 10 deadline pending the determination of a notice in respect of the issue.

However, the President, in a national broadcast on February 16, directed the apex bank to release old N200 notes into circulation to co-exist with new N200, N500 and N1,000 banknotes for 60 days — by April 10, 2023. He also said old N500 and N1,000 banknotes cease to be legal tender in Nigeria.

There has been a flurry of reactions and stark criticisms against the President’s directive including from governors of his party, the All Progressives Congress (APC).

Governors Nasir El-Rufai (Kaduna), Abubakar Badaru (Jigawa), Rotimi Akeredolu (Ondo), Umar Ganduje (Kano); Speaker of the House of Representatives, Femi Gbajabiamila; Minister of State for Labour and Employment, Festus Keyamo; and many stalwarts of the ruling APC have openly censured and faulted the President’s directive, arguing that it has no grounds because the case is before the apex court.

Leading Senior Advocates of Nigeria like Femi Falana and Mike Ozekhome have equally faulted the President’s move, saying he cannot overrule the apex court of the land.

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CBN Asked Banks To Receive Old Naira Notes – Soludo



BREAKING: How Nigerians Keeping N2.7 Trillion At Home, Others Caused Naira Redesign - Emefiele
CBN Governor Emefiele

The Central Bank of Nigeria (CBN) has asked commercial banks to dispense and accept old naira notes as deposits, according to Anambra State Governor Charles Soludo.

Soludo, a former CBN governor, made this known in a statement he posted on his social media handles.
He explained that the Governor of CBN, Godwin Emefiele gave the directive at a Banker’s Committee meeting on Sunday.

He added that Emefiele personally confirmed the directive to him.
According to him, residents should report banks refusing to accept the old notes.

“Commercial banks have been directed by the Central Bank to dispense old currency notes and also to receive the same deposits from customers. Tellers at commercial banks are to generate the codes for deposits, and there is no limit to the number of times an individual or company can make deposits.”

“The Governor of the CBN gave the directive at a Bankers’ Committee meeting held on Sunday, 12th March 2023. The Governor, Dr Godwin Emefiele, personally confirmed the above to me during a phone conversation on Sunday night. Residents of Anambra are therefore advised to freely accept and transact their businesses with the old currency notes (N200, N500; and N1,000) and the new notes”, the statement added.

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