Appointment
Cardoso narrates how CBN under his governorship will address forex crises
**Project ambitious $1trn GDP in 8 years
***Vows to halt Naira free fall, embrace culture of compliance
The newly confirmed Governor of Central Bank of Nigeria (CBN), Olayemi Michael Cardoso, has indicated that under his watch the apex bank would adopt short term measures to address the country’s foreign exchange crisis.
He said the Apex Bank will be repositioned to grow the size of the Nigerian economy to an ambitious value of $1 trillion in Gross Domestic Product, GDP in the next eight years.
He also vowed to embrace a culture of compliance, halt the continuous fall of the Naira in the foreign exchange market and tackle the rising inflation rate.
Cardoso and four deputy CBN governors were on Tuesday confirmed by the Senate after two hours of screening during plenary.
Those confirmed alongside Cardoso are Mrs. Emem Nnana Usoro, Mr. Muhammad Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
Speaking while responding to inquest by senators during the screening, Cardoso said the foreign exchange crisis was worrisome, and that there must be a stable exchange rate for the country to prosper.
In addressing the forex crisis, Cardoso said the new management of the apex bank will immediately look at short term measures, which he said were operational and system related.
He said the CBN would come up with rules that are open and transparent and that any of the players in that business understands.
Cardoso said, “On the issue of foreign exchange, which everybody has been talking about, is very worrisome. We need to have an exchange rate that is very stable to have a country that we all dream of.
“There are two very important issues that we will have to address if we are confirmed. It is what I will term operational and system related issues.
“We are aware that there are unsettled obligations by the CBN. Whether it is $4bn, $5bn or $7bn, I don’t know but definitely the immediate priority is to ascertain the extent.
“We need to find a way to take care of that. It will be naive for us to be expecting to succeed if we are not able to handle that side of the foreign exchange market.
“Secondly, we have to come up with rules that are transparent, that any of the players in that business understands.
“We cannot reasonably expect that serious foreign investors, portfolio investors, who generally have an impact on your market, will do so if you do not have an open, transparent system that everybody understands and can rely on.
“In setting up those guidelines, one will also have to carry stakeholders along. We should be ready to engage people, get stakeholders together and share views and promptly come up with strategies.
“The two things, which appear simple, are far more important than they appear.
“These two measures, which are the immediate steps that we will take, will go a long way to ease off the situation we are having right now in terms of wanting investors to come in.
“Those that want to do business in Nigeria, they want to see this is clear, and if they don’t they will hold on to their money.
“These are the short term measures. Once we get in, it is what we will address. I know that the impact will engender greater liquidity coming into the market. Those seeming withholding confidence will come back here. They will see that the cost is clear.”
On the issue of inflation and costs of goods, Cardoso said that the management would adopt evidence-based monetary policies.
“There is the need to significantly revamp the infrastructure in the central bank with respect to data and to ensure that our data gathering capacity is significantly enhanced so that we can make decisions based on proper data. This is key in measuring inflation.”
He further said reliable studies have shown that in the past 10 to 15 years at least 50 per cent of inflation has been as a result of money supply and deficit financing.
“This is a big problem and it’s something we have to face frontally.”
He pledged that the CBN would work in collaboration with the fiscal authorities to address deficit financing.
Cardoso also said the economic policy proposal of the administration identified a set of physical reforms and growth patterns that is targeted to achieve $1trn GDP within 8 years.
He said the apex bank had, for the past few years, deviated from its core mandates and not complied with the CBN Act.
“We have seen the effect of not doing things rightly. The new management of CBN will have zero tolerance for non-compliance to guidelines,” he said.
In his remarks, Senate President Godswill Akpabio urged the Senate Committees on Banking, Insurance and other Financial Institutions to carry out a thorough oversight of the apex bank to ensure that things are done properly.
In a strategic move to bolster security in Nigeria’s commercial capital, the Police Service Commission (PSC) has appointed CP Olohundare Moshood Jimoh as the new Commissioner of Police, Lagos State Command.
Head, Press and Public Relations
Ikechukwu Ani in a statement indicated that the appointment was confirmed on Monday, February 17, 2025.
The statement explained that
CP Jimoh, a highly decorated officer from Kwara State, is coming with decades of experience in crime prevention, intelligence, and security operations.
Before this appointment, he served as the Commissioner of Police, Ports Authority, Eastern Ports, and previously held key positions such as, Force Public Relations Officer, Deputy Commissioner, Airport Police, Deputy Commissioner, Finance & Administration and Deputy Commissioner, General Investigation
Accirding to the statement, CP Jimoh has received elite training worldwide, preparing him to tackle Lagos’ complex security challenges such as Combat Operations Training – Mobile Training College, Maiduguri, Weapons of Mass Destruction Countermeasures – USA, Maritime Rescue & Anti-Hijacking Tactics – China and Police Strategy & Leadership Training – South Korea
Beyond his operational expertise, CP Jimoh is a master communicator the statement explained further.
He is a recipient of the Presidential Award for Public Relations Personality of the Year, recognized by the Nigerian Institute of Public Relations (NIPR) for revolutionizing police-public engagement.
CP Jimoh’s appointment was approved by top-ranking officials at the Police Service Commission, including, DIG Hashimu Argungu (Rtd.) mni – PSC Chairman, Justice Adamu Paul Galmuje (Rtd.) – Hon. Commissioner for Judiciary and DIG Taiwo Lakanu, fdc – Hon. Commissioner for Police Affairs
With his deep expertise, global training, and reputation for results, CP Jimoh is set to redefine law enforcement in Lagos, ensuring safety and security for all.
In a landmark event blending tradition with progress, the Faculty of Veterinary Medicine at the University of Abuja hosted its inaugural White Coat and Oath-Taking Ceremony on Tuesday, marking a significant milestone in the institution’s history.
The ceremony served a dual purpose: officially inducting 62 new veterinary doctors into the profession and initiating 500- and 600-level students into their clinical years—a pivotal transition from theoretical learning to practical, hands-on veterinary medicine.
Dean of the Faculty, Prof. Enem Simon Ikechukwu, opened the event with a passionate address, calling it an “epoch-making occasion that blends pride, joy, and gratitude.”
He lauded the graduates’ resilience in navigating the rigors of veterinary education and urged them to carry forward the values of integrity, innovation, and service.
“Being a veterinarian is more than a profession; it is a calling,” Prof. Ikechukwu noted. “Through this oath-taking ceremony, we are not sending you off, but sending you forth—to conquer challenges and bring victories home.”
The event also honored the pioneers who laid the foundation for the Faculty’s success. The late Prof. Nuhu Omeiza Yaqub, who spearheaded the establishment of the Faculty despite formidable obstacles, and Prof. Ikwe Ajogi, the Faculty’s first Dean, were both fondly remembered.
Their legacy of excellence continues, with the Dean proudly noting that this marks the 11th graduating class since the Faculty’s inception.
The Veterinary Council of Nigeria (VCN) played a central role in the ceremony, administering the official Veterinary Oath and formally recognizing the graduates as licensed professionals. The Nigerian Veterinary Medical Association also welcomed the inductees, highlighting the growing impact of veterinary professionals on public health, agriculture, and animal welfare across the nation.
For clinical students donning their white coats for the first time, the day was both celebratory and symbolic. Prof. Ikechukwu emphasized the responsibility that comes with wearing the white coat, a universal symbol of medical ethics and professionalism.
“There must be a change in attitude,” he advised. “Separate yourselves from distractions and embrace the seriousness that clinical practice demands.”
The ceremony attracted a host of distinguished guests, including industry leaders, university officials, and proud family members. A special highlight was the presence of the newly appointed Acting Vice Chancellor, Prof. Patricia Lar, who received a warm welcome from the Faculty as she embarks on her new role.
As the ceremony concluded, one message resonated clearly: the future of veterinary medicine in Nigeria is in capable hands. With their oaths sworn and white coats freshly donned, these young professionals are ready to make their mark—not just in clinics and laboratories, but in communities and industries across the nation.
Senator Natasha Akpoti-Uduaghan of Kogi Central has been awarded the highly coveted ThisDay Senator of the Year Award, recognizing her exceptional contributions to governance, leadership, and the upliftment of her constituents.
The annual award, organized by ThisDay Newspapers, honors senators who demonstrate unparalleled commitment to public service and impactful representation. Akpoti-Uduaghan emerged as the winner from a distinguished shortlist that included Senators Solomon Adeola (Ogun West), Ireti Kingibe (FCT), Adams Oshiomhole (Edo North), and Ali Ndume (Borno South).
In a statement issued by her Chief Press Secretary, Israel Arogbonlo, the senator’s dedication to legislative excellence and grassroots development was lauded as key factors in her selection for the prestigious honor.
Known for her bold initiatives, Senator Akpoti-Uduaghan has focused on economic empowerment, healthcare reforms, and educational development in her constituency. Her programs, particularly those aimed at empowering women and youth through skills acquisition and entrepreneurship, have earned her widespread admiration.
Speaking on the award, the senator expressed gratitude to her constituents and reaffirmed her dedication to driving meaningful change.
“This award reflects the trust and partnership I share with the people of Kogi Central. It’s a call to do more, to deliver on our promises, and to remain steadfast in our pursuit of a better Nigeria,” Akpoti-Uduaghan stated.
Her growing list of achievements includes being named Leadership Newspaper’s Politician of the Year in 2023, further solidifying her reputation as a transformative leader in Nigerian politics.
The ThisDay Senator of the Year Award highlights the importance of impactful leadership in fostering development and governance. Senator Natasha Akpoti-Uduaghan’s recognition serves as an inspiration for her peers and a reminder of the power of purposeful representation in national politics.
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