News
CSOs Back CBN’s Cashless Policy
The recent decision by the Central Bank of Nigeria, CBN, to reintroduce various charges on large cash transactions in deposit money banks has generated mixed reactions by Nigerians, investigations have revealed.
The Coalition of Civil Society Groups, has expressed their support to the recently introduced cashless policy of the Central bank of Nigeria, and has also called for total support of the policy from all Nigerians.
According to the group, this is based on the advantages attached to cashless policy.
The group stated this at the weekend in a press statement jointly signed by the group’s President, Mr Bassey Etuk Williams and Secretary-General, Abubakar Ibrahim and made available to journalists.
The Group said apart from safety concerns, it also guarantees a relaxed atmosphere and confidence of transactions without drawing attention.
According to the statement, “deposit and withdrawal policies deductions to be made over counter payment that is more than Five Hundred Thousand Naira (N5,000,000.00) and Three Million Naira (3, 000, 000.00) for individuals and corporate accounts respectively are aimed at ensuring the effectiveness of the cashless policies of the Federal Government. By so doing it discourages cash deposits at the counter and encourages the use of electronic means that attracts no charges.
“If government must raise revenue, and we think this is one way government can raise revenue to meet its obligation, it calls for the rationale that what we are saying is that it is the right decision that government has taken to increase VAT from 5 to 7.5%.
“Sometimes, we agree that this may be painful, but it is important that we understand that government also has an obligation that it must meet.
“And so, it must raise revenue. Compare the VAT rate in Nigeria to VAT rate in any part of the world. Nigeria’s VAT rate even at 7.5% stands as a one-off if not the lowest in the world.”
The group then appealed to Nigerians “to show understanding. It may seem painful, but again, it is important for us to know that when government spends (because you are looking at the adverse consequences it will have on the purchasing power of the person who will spend), we should also look at the positive implication on the fact that government raises revenue, debt services ratio is lower, government can meet its obligation to improve roads or provide money for electricity; it will also have positive implication on the GDP and average growth of the country.”
The MPC (Monetary Policy Communiqué) noted the government’s current drive to increase Value Added Tax, VAT, will improve fiscal revenue to support expenditure and reduce the budget deficit as well as government borrowing when implemented.
The group completely agrees with the CBN on a cashless economy as “this will make it difficult for corruption and money laundering to thrive. It will also make it difficult for tax evasion, particularly value-added tax, VAT, that is being withheld by those who collect it on behalf of the government.”
Mr Bassey said part of the money realised can be spent on the poor. “We all realise that it is more secure, less costly and much faster as we have completed transactions unlike when it was all about moving huge sums of cash around. We thus, use this medium to call on all well-meaning Nigerians to embrace the policy as a means of encouraging cashless policy needed to drive the economy and same time separate legitimate transactions from questionable ones, which the electronic transfer will reveal over time.”
The group called on the general public to disregard the wrong information being pushed out by those that do shady business that needs to be corrected, as the said charges will only be applicable to daily transactions made over the counter and not per transactions as insinuated.
“A cashless economy will also curb corruption as well as reduce the expenses incurred in printing and transportation of currency notes across the states. It will also make tax payment easy as we know we have a bad record of paying tax as a nation.
“If the policy is implemented, the government will be able to raise significant revenue for government and resuscitate the redundant assets to generate employment and contribute effectively to national economic growth” the statement read.
News
“Nigeria’s Biggest Ever Coalition, Civil Groups, Professionals, Labour, Artisans, Declare for Bola Tinubu”
In what is being described as an unprecedented political development ahead of the 2027 general elections, a broad-based national coalition cutting across civil society organisations, professional bodies, labour groups, artisan associations, and other grassroots networks has announced plans to formally endorse President Bola Ahmed Tinubu for a second term in office.
The coalition, spearheaded by the Coalition of Civil Society Organisations in Nigeria, COCSON, now extends far beyond the traditional civic space, bringing together over 1,500 groups from diverse sectors of the Nigerian society. Participants include human rights organisations, medical and legal professionals, trade and artisan unions, community-based organisations, and influential labour leaders, reflecting a wide national spread and multi-sectoral backing.
The historic convention is scheduled to hold on May 17, 2026, where leaders and representatives of the various groups are expected to converge in what organisers say will be the largest endorsement gathering in Nigeria’s history. The event will serve as the official platform for the coalition to collectively declare support for President Tinubu’s re-election bid.
In a major demonstration of grassroots mobilisation, the coalition also revealed plans to submit a compiled total of 20 million signatures of Nigerians who have endorsed the President’s candidacy. The signatures, gathered through extensive nationwide engagement, are being positioned as a clear indication of public support cutting across regions, professions, and social strata.
Organisers of the event stated that the decision to back President Tinubu is driven by what they described as tangible strides in economic reforms, governance, and national stability. They emphasised that the inclusion of non-traditional actors such as artisans, market groups, and labour unions underscores a broader national consensus that transcends the usual civil society framework.
Political analysts say the scale and diversity of this coalition mark a significant shift in Nigeria’s political landscape, where support structures are no longer confined to political parties and elite stakeholders but are increasingly driven by a fusion of grassroots and professional constituencies.
As momentum builds towards the May 17 convention, observers are keenly watching how this expansive alliance will shape political narratives and influence voter sentiment in the lead-up to the 2027 elections.
Further details on the convention and breakdown of participating groups are expected to be unveiled in the coming days.
In what is being described as an unprecedented political development ahead of the 2027 general elections, a broad-based national coalition cutting across civil society organisations, professional bodies, labour groups, artisan associations, and other grassroots networks has announced plans to formally endorse President Bola Ahmed Tinubu for a second term in office.
The coalition, spearheaded by the Coalition of Civil Society Organisations in Nigeria, COCSON, now extends far beyond the traditional civic space, bringing together over 1,500 groups from diverse sectors of the Nigerian society. Participants include human rights organisations, medical and legal professionals, trade and artisan unions, community-based organisations, and influential labour leaders, reflecting a wide national spread and multi-sectoral backing.
The historic convention is scheduled to hold on May 17, 2026, where leaders and representatives of the various groups are expected to converge in what organisers say will be the largest endorsement gathering in Nigeria’s history. The event will serve as the official platform for the coalition to collectively declare support for President Tinubu’s re-election bid.
In a major demonstration of grassroots mobilisation, the coalition also revealed plans to submit a compiled total of 20 million signatures of Nigerians who have endorsed the President’s candidacy. The signatures, gathered through extensive nationwide engagement, are being positioned as a clear indication of public support cutting across regions, professions, and social strata.
Organisers of the event stated that the decision to back President Tinubu is driven by what they described as tangible strides in economic reforms, governance, and national stability. They emphasised that the inclusion of non-traditional actors such as artisans, market groups, and labour unions underscores a broader national consensus that transcends the usual civil society framework.
Political analysts say the scale and diversity of this coalition mark a significant shift in Nigeria’s political landscape, where support structures are no longer confined to political parties and elite stakeholders but are increasingly driven by a fusion of grassroots and professional constituencies.
As momentum builds towards the May 17 convention, observers are keenly watching how this expansive alliance will shape political narratives and influence voter sentiment in the lead-up to the 2027 elections.
Further details on the convention and breakdown of participating groups are expected to be unveiled in the coming days.
News
How ISWAP killed Army Col. Six others in Borno.
☆☆☆As Troops Foil Series of Ambushes.
Troops of the Nigerian Army under operation Hadin Kai have foiled a series of ambush by suspected members of the Islamic State West Africa Province (I SWAP) terrorist along the Monguno in Borno state.
Islamic state of West Africa province (ISWAP) have attacked the Nigerian army from Monguno 242 Battion Barrack in Borno State on their way to reinforce the camp.
A serving Nigerian Army Colonel was reportedly killed in an ambush by insurgents in Monguno, Borno State, during a reinforcement mission
Source added said that colonel I.A. Muhammad was ambushed by ISWAP and killed along with four other soldiers.
Community confirmed that the troops who were on a fighting patrol as part of operation,came under fire from suspected terrorists
As of the time of felling this report, there has been no official statements from the Nigerian Army regarding the accident.
News
Dogara Felicitates Dangote at 69, Applauds His Enduring Impact on Africa
Hon. Yakubu Dogara, former Speaker of the House of Representatives and Chairman of the Credit Guarantee Company Limited (NCGC), has joined Nigerians and the global business community in celebrating Alhaji Aliko Dangote on his 69th birthday. In a detailed tribute, Dogara described Dangote as “a visionary whose life’s work has become a cornerstone of Africa’s economic transformation.”
Dogara emphasized that Dangote’s entrepreneurial journey is one of resilience and foresight. From humble beginnings, he built the Dangote Group into Africa’s largest conglomerate, with investments spanning cement, sugar, salt, fertilizers, and the landmark Dangote Refinery. These ventures, Dogara noted, have not only revolutionized industries but also created millions of jobs, strengthened Nigeria’s economy, and reduced dependence on imports. “Alhaji Dangote is not just an entrepreneur; he is a nation-builder whose vision has redefined what is possible for Nigeria and Africa,” Dogara said.
He pointed out that the Dangote Refinery, in particular, represents a turning point in Nigeria’s energy sector, offering the promise of self-sufficiency in petroleum products and positioning the country as a major player in global energy markets. “This singular achievement underscores his commitment to solving Africa’s most pressing challenges through bold and innovative solutions,” Dogara remarked.
Beyond his industrial empire, Dogara praised Dangote’s philanthropy through the Dangote Foundation, which has invested heavily in healthcare, education, and humanitarian relief. From building hospitals and funding scholarships to providing aid during crises, Dangote’s generosity has touched countless lives across the continent. “His philanthropy reflects a deep commitment to humanity. He has shown that true greatness lies not only in building industries but also in uplifting lives,” Dogara added.
Dogara also reflected on the inspirational power of Dangote’s story, stressing that his rise from modest beginnings to global prominence serves as a beacon of hope for young Africans. “His journey proves that with hard work, faith, and determination, Africans can build enterprises that rival the best in the world. He remains a shining example of African excellence,” he concluded.
As Dangote celebrates his 69th birthday, his legacy continues to resonate far beyond Nigeria’s borders. His life stands as a testament to the transformative power of vision, enterprise, and compassion—an enduring reminder that Africa’s future can be defined by innovation, resilience, and generosity
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