The directive by Nigerian President for the timely release of the proposed N2.3 trillion for the implementation of economic sustainability plan and the defense of the central bank’s aggressive development finance activities since the outbreak of COVID-19 are some of the leading stories in Nigerian newspapers on Wednesday.
ThisDay reports that President Muhammadu Buhari yesterday said he had directed the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, and the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, to ensure a timely release of the proposed N2.3 trillion for the implementation of economic sustainability plan (ESP) as well as funds for capital projects.
The president, at the end of a two-day “First-Year Ministerial Retreat,” in Abuja, said he had done his best for the country within the available limited resources and urged the elite to judge his administration with fairness.
He also said his administration has made progress in all fronts and charged his cabinet members to be alive to their responsibilities.
He demanded optimum performance from them so his administration could make Nigeria better for the people.
President Buhari, who said his government had recorded some achievements, urged ministers and heads of agencies to “go on the offensive” to defend them.
The newspaper says that the Central Bank of Nigeria (CBN) yesterday insisted that its aggressive development finance activities since the outbreak of COVID-19 were aimed at stabilising the economy as well as to support the efforts of the federal government to stimulate economic activities.
The CBN stated this in a statement titled: “Re: Matters of Urgent Attention,” signed by its Director, Corporate Communications, Mr. Isaac Okorafor, which was a direct response to an earlier statement by the Nigeria Economic Summit Group (NESG) which criticised some of its policies, especially on foreign exchange management.
The apex bank explained that the impact of COVID-19 on countries across the world resulted in a significant downturn in the global economy. Consequently, countries including Nigeria were forced to impose lockdown measures in order to contain the spread of the pandemic.
This, it explained, resulted in depressed economic activity in the first half of the year.
The Vanguard reports that Expression Now Human Rights Initiative has filed a suit against the Nigerian Government before the ECOWAS Court over the provisions and enforcement of hate speech in the Nigerian Broadcasting Code 6th Edition and its amendments.
The suit marked ECW/CCJ/APP/, was filed through the Non-Governmental Organisation’s counsel, Solomon Okedara.
Okedara in the suit, argued that “while the focus of many Nigerians is on the N5 million fine, which the NBC Code (6th Edition) imposes in its Amendments, the Code even imposes other far-reaching penalties.
The counsel contended that while the N5 million fine is “disproportionate and unjustifiable, penalties like ‘suspension of broadcast services, suspension of license, shut down/seal up of transmitter’ are excessive and disproportionate and can have a far more damaging effect on free speech”.
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GIK/APA