Archive for nigeriang

God fearing women and men needed

God fearing women and men needed

“Men
wanted for hazardous journey. Small wages, bitter cold, long hours of
complete darkness, constant danger and safe return doubtful. Honour and
recognition in the event of success.” This was an advert placed in ‘The
Times’ newspaper, in 1913 by Ernest Shackleton, asking people to join
in his 1915 Antarctic expedition. Here in Nigeria, at a time like this,
it is not only men that are desperately needed, women, too, are of
utmost importance to join patriotic Nigerians, who believe, like Austin
Okocha said, that there is the need for divine intervention, for
Nigerian sports.

This is the time
for us to apply a lot of wisdom. It will amount to idiocy of the
highest degree, if we attempt to continue with the shenanigan
shamelessly perpetrated in Nigerian sports today. Fellow Nigerians,
what is going on in the Nigerian Olympic Committee (NOC), the NFA or is
it NFF (see the confusion?),

and the Nigerian
Sports Commission (NSC) is a travesty of the noble values of sports. An
insult on Nigerians, by a vicious cabal, who assume, that sports
administration in Nigeria, is their birth right. There is therefore the
urgent need to rescue Nigerian sports from the grip of these
unpatriotic Nigerians.

The plan is very
simple. Unlike the conditions given by Ernest Shackleton above, the
“expedition” as it were, is not ours. It belongs to the One who created
sports for His own pleasure. We therefore need God-fearing men and
women, hearts of stone need to be changed to hearts of flesh.

The Nigeria Sports Commission (NSC)

There is need for a
national restitution here. Moses Iloh, an elder stakeholder and
immediate past President of the Cycling Association of Nigeria, said
inter-alia a few days ago, that the NSC is not a blessing to this
nation. In order words, the umbrella body, meant to coordinate all the
other associations in Nigeria, is a curse to the nation. Our own
learned ex-international footballer, now a football administrator, has
also on several occasions, spoke and written about the illegalities
constituting the setting up of the NSC. Who were those responsible for
the military-style transformation of the Sports Ministry to the Sports
Commission, without going through the required constitutional process,
thereby allowing the albatross called decree 101 and its retrogressive
appendages, remain the platform on which sports will be administered
and managed in Nigeria? Who? Does anyone know? Please tell that person
or group of persons, that the blood of all the Nigerians who have died
in the course of watching matches involving our beloved Super Eagles is
on their heads. Except they confess, repent and do restitution, only
God knows what will befall them and the generations after them. Yes, I
wholeheartedly agree that a tsunami should blow the NSC away, if they
refuse to humble themselves and listen to words of wisdom. The NSC salt
has lost its flavour.

The Nigeria Olympic Committee (NOC)

The testimonies of
the NOC speak volumes on behalf this committee, regarded as a conduit
pipe to siphon money into the pockets of a shameless group of people.

When last did
anything good come out of the NOC? Oh I am sorry. Go to the national
stadium and you will notice that the NOC secretariat is wearing a new
look. Beautiful and very psychedelic. This is why I will not blame
those already bitten by the sit-tight-syndrome bug, who believe, that
they must remain there eternally. Check our participations in the last
two Commonwealth and Olympic games, put the results of these games
against the billions of tax payers monies and judge for yourself. The
truth however is that there are some very credible and God fearing men
and women, who are either Secretaries or Presidents of associations
affiliated to the NOC, who we are made to understand are being
oppressed by the cabal within the NOC. There is the need for repentance
and restitution please.

Permit me to round up on a very sore note. I have heard Nigerians
calling on the organizers of female football in Nigeria, to allow the
women who represented us at the on-going U-17 FIFA Female world cup
finals in Trinidad and Tobago, graduate to the U-20 category.
Laughable! If you are one of such, please quickly go on your knees and
ask God to forgive you. Please note very well. As long as we are
praying for God to intervene in Nigerian sports, especially football,
this nation will not win any international laurel if we continue to
field over-aged players. Q.E.D.

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Do promiscuous footballers need support?

Do promiscuous footballers need support?

You may have heard
recently that the private life of Manchester United and England striker
Wayne Rooney has been subject to allegations in several British tabloid
newspapers.

Once again, a rich
and famous sports star has apparently not been able to resist the
temptations associated with his status and his bank account. Am I the
only one who is not surprised? To be honest it didn’t shock me at all.

Without forgiving
the situation, if indeed it proves to be true, it throws light once
again on the lives of the privileged elite of the sporting world and
the morality of their conduct. It also raises the question of whether
there is enough support for these individuals from those who create
their stardom.

Tiger Woods’
transgressions were notorious but if anything, the culture within the
elite of Europe’s footballing class for promiscuity and philandering,
is more ingrained and widespread.

It would be fair to
say that exceptional circumstances contribute to this. In the
modern-day game, where soccer is an entertainment that captivates the
world, the players can attain unimaginable wealth and fame at a very
young age.

Often, in Europe’s
top clubs, there will be at least ten millionaires under the age of 25
within the squad. All whose faces are well known, are highly attractive
to the opposite sex and have money and time to burn. Some are single,
many are married.

Everywhere they go,
they hear how great they are and how they can do no wrong. They have
agents who help them buy houses, cars, help them pay their bills and
who book flights and holidays. What is the only thing that most of them
have to worry about? Running and kicking a ball.

The lifestyle is
alluring and glamorous and there are also many women who seek to
capitalise on this. A career can be built on being the girlfriend of a
famous footballer, and many are ruthless in their pursuit of such
riches as there is money to be made from kiss-and-tell stories.
Therefore, every time they go out, they have girls all over them.

Every time they are on the road, they have girls all over them.

What is worse, such
fame, means many footballers have few people around them they can
trust. In their mind, family and childhood friends are the only ones
who loved them before they were famous.

That leads to one
of the biggest mistakes, marrying their first girlfriend, the girl who
cared about them before they were rich. Believe it or not, players’
agents and coaches actually encourage them to do this, to settle the
player, create an image of maturity and to build the role-model persona
that is so valuable in the commercial world.

And herein the
problem lies, because with the attention and opportunities for sex
available to these guys, many cheat and then end up getting caught. Few
have the maturity to walk away from provocative situations and few tell
such groupies that flirting and sleeping together is off limits because
they have a wife at home.

It seems strange
that so much preparation is given to the players’ performance on the
pitch – with a support network helping hone every area from nutrition
to fitness – while the management of their lives as celebrities away
from the pitch falls on the shoulders of these young men alone.

In my eyes,
everyone needs to start taking more responsibility, starting with the
clubs who pay their athletes hundreds of thousands of dollars every
week. In our jobs we have training courses, right? Well why don’t teams
start enrolling players in media training and why don’t they organise
classes with sports psychologists? It might go a long way to exposing
these players to some of the temptations they will face in the future.

Agents need to grow
up too. Instead of encouraging their clients to get married to their
first girlfriend at the age of 25 or earlier, why don’t they manage
their life a little more intelligently?

At least, if the
players stay single longer, then they can act more irresponsibility and
associate with as many escorts or strippers as they like without being
judged by society.

Success is a Pandora’s box, a life-changing experience, and for many footballers it needs to be managed better.

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RED CARD: Ambition and the death of Nigerian sports

RED CARD: Ambition and the death of Nigerian sports

It seems Nigerian sports has become inured to
crisis. At a time the men charged with the responsibility of seeing to its development
are supposed to be rolling up their sleeves and putting their shoulders to the
wheel, we are seeing them being consumed by ambition.

Ambition by itself is not evil. Every human
being should have aspirations; without something to look forward to, life would
be truly meaningless. However, the kind of ambition that a lot of our
administrators have is the rabid kind; without any redeeming quality
whatsoever.

For them the injunction by Frantz Fanon that,
“if any philosophy is here being preached it is that man must not only exist
but must live well, the measurement of any intellectual activity being the
welfare of the people”, clearly has no meaning.

We have seen in the last one month how Nigerian
football has been brought to its knees first, through the ambition of Sani Lulu
to return to power and then through the scheming of his Man Friday, Aminu
Maigari, to mount the saddle after Lulu’s indiscretions landed him in trouble.

We have also seen how members of Nigeria’s
rugby family have refused to call truce to a battle, which has raged since 2009
when the National Sports Commission decided in its own wisdom to let interested
lovers of the sport bid for and take over its administration.

Instead of sitting down to seek ways of
revolving the disagreement, which arose when one party accused the Secretary
General of Nigeria Rugby Football Federation of influencing the handing of
concession rights to its opponents, they have lately engaged themselves in
verbal warfare.

To cap the disquiet in the sports fraternity,
officials of the Nigeria Olympic Committee, who ordinarily by virtue of their
being members of the world Olympic movement, ought to be staid and refined in
manner, have turned out to be hardly better than bickering ninnies.

At the centre of the storm are two men, Sani
Ndanusa and Habu Gumel, who if they properly sat down and reflected on their
stewardship to Nigerian sports should come to the conclusion that a quiet exit
from the scene at this point would be the fitting thing to do.

Losing
touch with reality

Both men particularly Gumel, who has sat on the
board of the Nigeria Volley Federation as president for about twelve years now,
cannot be relied upon to generate any ideas that will drive Nigerian sports
forward.

Under Gumel’s successor, Eddie Aderinokun,
volleyball thrived in Nigeria with players and officials alike freely relishing
Nigeria’s participation in local and international volleyball competitions.
Under Gumel’s watch the story has been different. Nigeria’s rating in the
global volleyball order has plummeted following its non-participation in key
international volleyball events. At the same time, competitions on the local
scene have become non-existent.

That aside, Gumel’s tenure as Director of
Sports Facilities in the Ministry of Sports witnessed the decay of sports
facilities around the country. Key national edifices like the National Stadium
in Lagos became breeding ground for criminals and haven for destitute and
prostitutes even as facilities rot away.

For many years, the facility, which used to be
the pride of Nigeria, was swamped by darkness as NEPA (now PHCP) cut power
supply owing to the refusal of the management of the facility to pay its debts
to the body. This deplorable situation existed despite the fact that the
stadium was raking in more annually from individuals, corporate organisations
and religious bodies who used its grounds for different programmes.

As for Ndanusa, who in his first term as
President of the Nigeria Tennis Federation revitalised the sport, which had
witnessed a steady decline prior to his arrival, he seemed to have lost his way
at some point along the way. His tenure as minister of sports was to put it
mildly an unmitigated disaster. The man, who upon his appointment promised not
to follow his predecessors in their blind devotion to football, became
inexorably sucked in into the vortex of football administration.

What genius these two men hope to bring to
sports administration at this stage beats the imagination. How they hope to
make an impact late in the day after squandering opportunity after opportunity
leaves one wondering whether they haven’t lost touch with reality.

It is barely a few weeks to the Commonwealth
Games in Delhi, India and Nigeria is anything but prepared. This clearly does
not figure in the calculations of Gumel and Ndanusa, who before he was fired as
sports minister this year should have supervised the preparation of the various
federations under his Supervision as minister of sports. As it turned out, he
was more interested in seeing the Super Eagles qualify for the World Cup in
South Africa.

If you ask me, Nigeria’s Olympic movement doesn’t need any
of these men. While Gumel has overstayed his welcome and should quietly retire
to contemplate other ventures, Ndanusa is too dour and lethargic to provide the
leadership needed to galvanise the Olympic to serious action.

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‘Nigeria has the highest number of children out of school’

‘Nigeria has the highest number of children out of school’

In ranking Nigeria
amongst the worst place for a child to be in 2010, a report by the
Global Campaign for Education (GCE) has stated that Nigeria has more
children out of education than any other country in the world.

The report claims
that an astounding 8.2 million children are not provided with adequate
education in Africa’s most populous country. Comparing the nation’s
wealth with the apparent low standard of education, the report claims
that “the report is made all the more appalling by the fact that
Nigeria is far from poor, by African standards. On paper at least it is
among the continent’s richest countries, the world’s sixth largest
producer of crude oil. But decades of failure to invest in education
have left the basic school system hardly functioning, especially in the
country’s impoverished north.”

For Primary
education, the report claims many students drop out of the school in
their first year of education due to ‘unequal provision of education’
and this it argued, is caused by the lack of political will to address
and arrest the issue. “A lack of political will is a major factor in
the country having the highest number of children out of school in the
world. Gross inequality in the provision of education has led to 8.2
million children out of primary school with many more dropping out
within the first year.”

Poor attendance, imbalanced education

The report
particularly criticised the northern region of the country for an
abysmal amount of children denied good education. “Over half of these
children are in the north of the country, with girls suffering the most
with many receiving just six months of education in their lives. In the
largely Muslim north of Nigeria……….attendance rates are below 50%
at primary school and of those only one in every three pupils is female
(nationwide, the proportion is five boys to four girls)” it noted.

The GCE report is
coming just as the National Education Council of Nigeria (NECO) on
Monday released the 2010 results and over 79% of the students that sat
for the examination failed in English language; the nation’s official
language.

While over 80% of the students failed the entire exam last year.

Nigeria was however
not listed in the list of the bottom 10 countries that are worst for a
child. The countries which are predominantly African nations include
Somalia, Eritrea, Comoros, Ethiopia, Chad, Burkina Faso, Central
African Republic, Mozambique, Zimbabwe, Liberia and Haiti. Tanzania and
Mozambique were however commended for halving the number of children
out of school, while Rwanda is said to have made strong efforts to
ensure that there are enough professionally trained teachers.

The report noted
that delivering education for all is highly achievable and brings other
poverty dividends such as reducing HIV deaths by seven million and
doubling child survival by 50% if mothers are educated.

The President of
the Global Campaign for Education Kailash Satyarthi in a statement to
political leaders warned “if scientists can genetically modify food and
NASA can send missions to Mars, politicians must be able to find the
resources to get millions of children into school and change the
prospects of a generation of children.”

GCE called on
leaders meeting at the United Nations in New York this week, to make
funding for education a priority in order to meet the target of
universal access to basic schooling by 2015.

It argues that
“poor countries should spend 20% of their national budget on education,
abolishing school fees and be supported to hire an additional 1.9
million teachers so that every child can have access to education.” It
called on rich countries to “direct their aid budgets at the poorest
countries or where inequalities of education are most extreme, rather
using their aid budgets to underwrite the University systems.

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Agency completes payment of aviation company workers

Agency completes payment of aviation company workers

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ENVIRONMENT FOCUS: A presidential debate on sustainable development

ENVIRONMENT FOCUS: A presidential debate on sustainable development

Nigerians imitate
so much from Americans that we resemble a US colony on the 50th
anniversary of our independence from the UK. All the same, I look
forward to that American tradition of moderated debates by presidential
candidates – this time, in Nigeria. Early days yet, maybe; but Jonathan
says it’s all God’s doing, Babaginda declares: the older the better,
and Saraki states it’s the turn of a new breed.

Slogans apart, a
would-be-president of Nigeria should confront and convince millions
within this country, as well as investors from outside, instantaneously
with an agenda of how he will pull the country out of the deep, dirty
hole we have lived in for 50 years. What plans, for example, do our
presidential aspirants have to combat the negative impacts of climate
change? What will they do about food insecurity? Some Nigerian
politicians are calling for a return to coal-mining to solve the energy
crisis. What is the opinion of Jonathan, or Saraki, Babangida, or
anyone else? Atiku, too. And if Nigerian coal miners got trapped 700
metres beneath the surface, what contingency plans would they have in
place to rescue them?

We often repeat all
those familiar statistics about Nigeria – forests gone, hundreds of
species endangered, rivers, lakes, coastal areas over-polluted and
over-fished, threats of erosion, floods, drought, the worst maternal
and infant mortality, the highest reported cases of snake bites in
Africa, thanks to Kaltungo Local Government in Gombe State. Do we have
someone who can turn things around, someone who will make a difference?

We need moving
rhetoric, ideas, plans and promises that will be kept, not patronizing
visits to re-assure the Igbo that they’ll give birth to the next
president, courtesy of a midwife called Babangida. Igbo people, like
other Nigerians, are more interested in when there will be light and
water, and jobs and health care, and no hankypanky and fraud in paying
pensions to the aged; no muggers and kidnappers, no policemen killing
drivers at checkpoints.

Babangida is sadly
out of touch with the recent realities of public affairs in Nigeria. We
are now in civilian times and marching to a different music of debate
and innovative thought processes, not commands and decrees. Long
retirement and hibernation has taken its toll on a once dashing General
of the Nigerian army. If it is correct, and I don’t still believe it,
that he picked Peter Odili to run with him, then IBB is very likely to
be frozen on the starting blocks once more. It appears that he has not
seen the handwriting on the wall, and I don’t think he will hear the
starter’s gun either. A great pity, but then soldiers are no strangers
to hara-kiri! I still would like the young Saraki to tell us what
lessons he learnt about farming from those white Zimbabweans. Has any
agricultural knowledge or technology been transferred to Kwarans? Why
did Mr Saraki approve land so rapidly for the Zimbabweans when many of
us are not able to own a plot to farm in our states of origin, talk
less of doing so in another state within the country? Is that what the
Land Use Decree is all about? That a state governor can hand over
productive land to foreigners with such ease?

If Mr Saraki was
enterprising enough to start a football academy in Ilorin, why hadn’t
he thought of a college of agriculture at which his Zimbabwean pals
would be lecturing?

Yet on Monday, Bukola Saraki wrote that we need young Nigerians to fix things. Yes, I agree, but not old Zimbaweans!

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Cross River launches identity management project

Cross River launches identity management project

The Cross River
State government has signed a joint venture agreement with Interswitch
Limited for the implementation of the Cross River State Identity
Management and E-Payment Backbone.

The state governor,
Liyel Imoke, described the occasion as a reflection of a new way of
doing business in Cross River, stating that the government will
continue to partner with the private sector to improve on service
delivery, and help make a difference in the lives of the citizens. He
said the project will be a success story for the combined effort
between the public and private sectors.

Mr Imoke said the
project has great potentials to improve the people and the government
of the state, by providing a strong backbone for E-Payment, as well as
opportunities to gather information and data in identifying the
citizens of the state and determine the number of people required in
the civil service. He added that the goal of the project is to build an
operation that will deliver identity management and payment processing
at no cost to the state government. It will also improve the internal
revenue generation capacity of the state, as well as provide accurate
data and fail-proof identification of citizens for development
purposes, social services and planning, he said.

He urged the
operators to ensure that the contents of the agreement are adhered to,
for the people to enjoy the service which they provide.

The state government will provide the legislation and support,
whilst Interswitch will provide the technical expertise and funding.

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Duke to represent Queen at Nigeria anniversary

Duke to represent Queen at Nigeria anniversary

The British High Commission in Nigeria on Tuesday announced that Queen Elizabeth of the United Kingdom will be represented at our nation’s 50th independence anniversary by the Duke of Gloucester.

According to a statement from the commission, the Duke of Gloucester, Richard Alexander Walter George KG GCVO, will be visiting Nigeria from September 28 to October 3, 2010. “He will be representing Her Majesty the Queen and Her Majesty’s Government at the 50th Anniversary Celebrations of Nigeria as an independent nation.”

Nigeria got her independence from Great Britain in 1960, with the Queen in attendance.

“As part of his visit to Nigeria, the Duke of Gloucester will also undertake official engagements in both Lagos and Abuja,” the statement read. “As part of the United Kingdom’s contribution to Nigeria’s 50th Anniversary Celebrations, the Duke will visit Lagos and take part in the Presidential Fleet Review and undertake other naval training activities.”

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We can’t conduct successful elections by January, says Ojudu

We can’t conduct successful elections by January, says Ojudu

His decision to go into politics

I have been in
politics for a while, but there was never a time I was really
interested in elective office. But in the last one year, I have
reflected on the events in the country, especially in Ekiti State, and
also my career. I now feel that if all of us that are critical of the
way things are going in this country stand aloof, if we allow the
people with no vision to rule over this country, things will continue
to be the way they are. That is why you find me doing what I’m doing
now.

Criticism of timetable for 2011 elections

I think the time
line is too close for the elections. If, by now, we have not done
registration, parties have not nominated their candidates, ballot
papers have not been printed and a lot of things have been left
untouched. There is no way we can do successful elections in January.
They have argued that the electoral act has specified a time. My
argument is that law is made for man, not man for the law. Those laws
are going to be impediments to free and fair elections. We could amend
those laws that have been passed. We could call the National Assembly
members together again to review, instead of hindering our election, or
we can suspend those laws for this election.

Challenges facing Ekiti State

If you look at
Ekiti State over the years, you will find that there has been a
collapse in the education sector. We have always seen education as an
end to needs, not as a means to an end. We have not used that education
to build industries and provide employment for our people. You can just
be acquiring degrees without adding to the value of the lives of our
people. People believe that to go to school and acquire degrees is the
end of the world. That is the kind of rebirth we want in Ekiti State.
We want to recreate and change the perspective of our people. It is
when other states see us from a good perspective that we will begin to
attract people from other states and these will bring good tidings to
our state.

His plans if elected senator

The problem facing
Ekiti State is the re-orientation of our people. We need to call
ourselves to the problem facing us. For example, all the roads in Ekiti
are not in good shape. We are going to vigorously call attention to all
these things.

If I get to the
National Assembly, I am going to network with my colleagues and lobby
those that can be lobbied. Because of my working here, I have also
discovered that there is so much ignorance, people not knowing what is
going on outside the state and people with degrees don’t even know
where to go for jobs. They don’t know that a lot of government
agencies, especially at the federal level, hire people annually on a
contract basis. They don’t have the knowledge of what is due to them.
We would organize seminars for our businessmen on where and how to take
opportunities of loan facilities. So those are the kind of things I
will do differently.

ACN’s chances in the elections

If you drive around
the town, opinion polls will show that ACN is the most popular party in
Ekiti State and you can also feel the popularity.

We shall be
vigilant and make sure that there is no rigging so that we can win our
elections. PDP do not love our people. We do not need to deceive
ourselves. At the national level, we will try as much as possible to
present a good candidate that is going to be well accepted by the
majority of Nigerians. If INEC will keep to its promise to conduct free
and fair elections, then why can’t we win? We can see the future is
bright for the party and we are waiting for it.

His confidence about his chances

I am not arrogant
and I’m always at home with the people. I am not a wealthy man and I am
not a silver spoon person. People have helped me in the past to be what
I am today. So why will I be arrogant? I could be self confident and if
that is what some people see as being arrogant, then I can’t help it. I
am self-confident and I don’t allow people to push me around. You can
accuse me of self-confidence and self-sufficiency, but not being
arrogant.

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Central Bank resumes active open market operations

Central Bank resumes active open market operations

The Central Bank of Nigeria (CBN) yesterday announced
the resumption of active open market operations for the purpose of
targeted liquidity management in the country. This was part of the
resolutions announced in Abuja by the apex bank’s governor, Lamido
Sanusi, at the end of the monthly Monetary Policy Committee (MPC)
meeting to review the country’s domestic economic conditions for the
first eight months of the year and the challenges facing the economy.

Other high points at the meeting included the
decision to increase the monetary policy rate (MPR) by 25 basis points,
from 6.0 percent to 6.25 percent, and adjustment of the asymmetric
corridor to 200 basis points above, and 300 basis points below the MPR,
for the standing lending and deposit facilities respectively. It also
agreed to raise forthwith interest payable on standing deposits with
CBN overnight by 200 basis points.

Mr. Sanusi, expressed the committee’s satisfaction
with the progress so far with the ongoing reforms in the financial
sector, and noted the inflationary pressures likely to be exerted on
the economy with the upsurge of government spending in an election
year, as well as the liquidity implication of the purchase of
non-performing loans by Asset Management Corporation of Nigeria
(AMCON). He, however, assured that the CBN is considering a policy
action to moderate the impact.

The committee, which also endorsed the CBN’s liaison
with the Pension Commission (PENCOM) to get part of the accumulated
pension fund to finance power sector projects on a long term basis,
commended government’s decision to resume the power sector reforms and
pointed out that this would impact positively on the core structure of
the country’s economy.

“We are trying to work out an arrangement that would
make the PENCOM fund to be available for power projects at single
digits interest rates. Between the PENCOM and the CBN, we should be
putting in about N500 to N600 billion in power sector development. That
potentially can create about 6,000 mega watts (MW) of electricity.

“This arrangement would help in shielding the power
sector from the vagaries of volatility in the international capital
market and the exchange and interest rates risks,” Mr. Sanusi said.

“We are sensitive at driving inflation. We do not
think at this point that it is something to panic about. However, we
recognise that with increase spending with AMCON, increase in salaries,
participation in deregulation, government is likely to have significant
equity injection towards rear end, which might further fuel inflation
in double digits,” he added.

Stock leadership crisis

On the operations at the capital market, the
committee expressed conviction that the early resolution of the
leadership impasse at the Nigerian Stock Exchange (NSE), as well as the
effective take off of AMCON would facilitate the return of the stock
market to the path of recovery.

The foreign exchange market, the committee noted,
remained relatively stable during the period, with total inflow in July
put at $2.25 billion, an increase of 9.22 percent over the $2.60
billion in the preceding month, out of which crude oil and gas revenue
was $2.16 billion, or 93.97 percent.

On the other hand, total outflows of payments for the
same period amounted to $4.03 billion, an increase of 3.78 percent,
from $3.88 billion for the previous month, while net outflow was put at
$1.78 billion. Total inflows of foreign exchange to the market between
January and August was $52 billion.

A breakdown of the total figures showed CBN funds
accounting for $14 billion, or 27 percent, with the balance coming from
autonomous foreign exchange sources, including oil companies,
international institutions, and other agencies, while gross external
reserve stood at $36.636 billion as at September 13, representing a
decrease of $0.5 billion, or 1.3 percent, when compared with the
$37.167 billion as at end July.

The committee described the current external reserve
level as still adequate and expected to remain robust, considering the
favourable outlook of oil prices at the international oil market,
pointing out that “there is no compelling reason to alter the exchange
rate regime, as stability will remain priority.”

On the AMCON board, Mr. Sanusi said a list of nominees submitted, in
consultation with the minister of finance, Segun Aganga, to the
presidency, has since been approved and passed on to the National
Assembly for screening and final confirmation. He assured that as soon
as the law makers resume from their vacation, the approved appointees
would be made public.

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