Business
Abuja NSE play dominant role infrastructural development —Governor Mbah
By Abubakar Yunusa
Governor Peter Mbah of Enugu State commended the Abuja branch of the Nigerian Society of Engineers (NSE) for its significant role in the infrastructural development of the nation’s capital.
He made this statement during the opening ceremony of the 2024 engineering week and general meeting of the branch, themed “The Role of Engineering in Energy Transition.”
Mbah, represented by Commissioner of Special Duty Hon. Ajogwu Emeka, emphasized that the Abuja NSE chapter had played a pivotal role in the infrastructural development of Abuja.
He highlighted the branch’s 40 years of impactful contributions.
Regarding the theme of energy transition, Mbah urged the NSE to actively participate in decision-making processes.
He cautioned against a hasty transition, emphasizing the need to avoid a situation where the world becomes too reliant on fossil fuels again.
He stressed the importance of a measured approach, considering the ongoing nature of the energy transition.
Mbah also highlighted the strong relationship between his administration and the NSE Enugu State chapter. He reiterated his campaign promise to construct 10,000 kilometers of roads within eight years and emphasized his commitment to fulfilling this promise.
He shared that his administration had already constructed 71 urban roads and was nearing completion of rural road construction. Additionally, he announced the approval of an additional 141 urban roads and 20 rural roads.
The Minister of Innovation, Science, and Technology, represented by Engr. Isaac Nnamdi, acknowledged the crucial role of engineers in the energy transition.
He highlighted the country’s past reliance on hydro energy and the resulting challenges in generation, transmission, and distribution.
The minister emphasized the government’s commitment to renewable energy as a priority to ensure reliable and affordable power supply. He mentioned the integration of solar, wind, and hydroelectric power to reduce dependence on fossil fuels.
Engr. Ben Osy Okoh, Chairman of the NSE Abuja branch, echoed the importance of the theme “The Role of Engineering in Energy Transition.”
He emphasized the critical role of engineers in driving sustainable solutions for the future.
Okoh acknowledged the challenges and opportunities presented by the energy transition and stressed the significance of engineers in shaping this future
By Abubakar Yunusa
The Association of Labour Veteran and Trade Union Assembly has voiced its support for President Bola Tinubu’s economic reforms, claiming that food prices have significantly decreased across the country.
In a statement issued on Thursday, the union’s interim president, Comrade Isa Tijjani, acknowledged the initial economic hardship faced by Nigerians at the beginning of Tinubu’s administration but insisted that government efforts had led to tangible improvements.
“At the start of this administration, the cost of food soared, and the nation was filled with cries of hunger and complaints. People were urged to be patient as the government worked towards solutions,” Tijjani said.
“Now, the President and his aides have worked tirelessly, and prices have come down drastically. However, I have yet to hear words of appreciation for their efforts. Recognising their achievements will encourage them to do even more for the nation.”
Tijjani, a former national vice-president of the Nigeria Labour Congress, urged Nigerians to differentiate between constructive criticism and unwarranted opposition.
He emphasised that engaging with the government in a respectful and solution-oriented manner would yield better results than resorting to hostility.
“The President of this country today is Alhaji Bola Ahmed Tinubu. Advising him in a humble and respectful manner will be more productive than adopting a confrontational stance. Constructive engagement achieves more than threats and name-calling,” he added.
Tijjani also condemned the recent act of violence in Edo State, describing it as a cowardly attempt to incite division and instability in Nigeria.
He welcomed the swift response of both the President and the Governor of Edo State in addressing the situation and called for the perpetrators to be brought to justice.
The labour leader further urged union members to participate in the upcoming General Executive Council meeting, where the union’s position on national issues will be formalised and disseminated at all levels of governance, from the state to the local and ward levels.
The Tinubu administration has faced criticism over the country’s economic challenges, including inflation and currency depreciation. However, government officials have maintained that their policies will yield long-term benefits for Nigeria’s economy.
Sterling Bank has announced the removal of transfer fees on all local online transactions.
The move was confirmed by the bank on Tuesday in a press release.
The development makes it the first major Nigerian bank to eliminate the contentious charges for digital banking.
The statement noted that the bank reaffirmed its commitment to customer-centric banking, declaring that the zero-transfer-fee policy is real and effective immediately.
The initiative is expected to bring significant relief to individuals and small business owners who conduct frequent transactions.
The bank’s Growth Executive in charge of Consumer and Business Banking, Obinna Ukachukwu, described the decision as a values-driven approach aimed at ensuring fair and inclusive banking.
“We believe access to your own money shouldn’t come with a penalty.
“This is more than a financial decision—it’s about redefining banking to put customers first,” he stated.
Under the new policy, Sterling customers will not be charged for local transfers conducted via the bank’s mobile app.
Ukachukwu emphasised that the bank’s decision is about more than just competitive strategy.
He said, “We’re not yet the biggest bank in Nigeria, but we’ve been the boldest.
Sterling fearlessly believes in the future of Nigeria, and this is us backing Nigerians with more than words.
The Central Bank of Nigeria dismissed a report claiming it had introduced N5,000 and N10,000 banknotes to facilitate cash transactions as false.
In a statement posted on its official X handle on Wednesday, the apex bank described the report as fake and urged Nigerians to disregard it.
“The content is not from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng,” the statement read.
A statement from the CBN’s communications department further clarified, “The only official sources for releasing statements to the media are our website or statements from our department. There is also no Deputy Governor by such name. We are investigating the source of this fake content.”
The report quoted one Deputy CBN Governor, Ibrahim Tahir Jr., the move is aimed at reducing cash-handling costs and providing Nigerians with more efficient means of conducting large transactions.
“The introduction of these new high-value denominations aligns with global best practices and will enhance economic activities while reducing the stress associated with carrying large amounts of cash,” the Governor stated. The CBN said there is no such name in its leadership.
“The new N5,000 note will feature the portrait of Chief Obafemi Awolowo, while the N10,000 note will showcase Dr. Nnamdi Azikiwe, both in recognition of their contributions to Nigeria’s development.
“Additionally, the new notes will incorporate enhanced security features, including color-changing ink, holograms, and anti-counterfeiting technology, making them impossible to replicate,” the fake report stated.
The fake report also said the nationwide rollout would begin on May 1, 2025, with commercial banks instructed to start issuing the new notes via ATMs and over-the-counter transactions.