News
You’re elected to help reduce poverty not escalate it, LP, Atiku reply Tinubu

…stop making excuses for inflicting multi-dimensional poverty on Nigerians- Atiku
By Kayode Sanni-Arewa
The Labour Party (LP) has said it was disappointed with President Bola Tinubu’s statement which it described as making mockery of Nigeria’s poor.
National Publicity Secretary of the party, Obiora Ifoh, in a a chat with Vanguard, in Abuja, yesterday said the President needed to be reminded that he was elected into office to reduce if not eliminate poverty and not exercerbate it.
He spoke in response to President Tinubu’s statement that Nigerians were not the only ones suffering from poverty.
Ifoh said, “We are disappointed but not surprised by the comments made by President Ahmed Bola Tinubu about the excruciating poverty his administration’s policies have unleashed on Nigerians since he took office over a year ago.
“It was to say the least disheartening to hear Mr. President mock his citizens by saying Nigerians are not the only ones facing poverty.
“Assuming but not conceding that what he said is true, Nigerians who are at the receiving end of his harsh economic policies don’t need to be reminded about the pain and hunger they have been forced to live with by the very people who put them in that situation in the first place.
“May be this administration needs to be reminded that it was elected to reduce if not eliminate poverty, hunger and disease but what we have seen is an obsession with opulence.
“We are yet to get over the billions appropriated for the renovation of the President and Vice President’s lodges, now we hear they want new jets to join the Presidential fleet.”
He further said, “Our schools and health institutions are on their knees, the same government claims it cannot afford to pay public servants a living wage but has enough to make itself comfortable at the expense of the suffering masses.
“Mr. President, we implore you to uphold the constitution you swore to protect. The constitution says the security and welfare of the populace shall be the primary purpose of the existence of your government. Enough is this mockery.”
Atiku’s responds
Speaking in a similar vein, former Vice President Atiku Abubakar, speaking through his Special Adviser, Paul Ibe said, “There’s a saying that the baby goat watches the mother goat eating grass and consequently learns to eat grass.
“There are little or no values nurtured and promoted by Tinubu and his administration. What Nigerians are seeing it manifest is insensitivity, bigotry, nepotism, corruption, and wastfulness.
“For the President to speak about us finding a way to eliminate banditry and terrorism is an acknowledgement of failure.
“ What we expect to hear from him are the measures and the strategy to deal with the menace and not to regale us with the problems that we are all well aware of.
“The poverty in Nigeria is multidimensional. It was exacerbated by the policies of the Tinubu administration that does not priotise production and cutting costs.
“Policies that were not well thought out and are only aimed at pauperizing the citizens. Tinubu’s trial-and-error policies have continued to dig the country deeper into economic degradation.
“ His government is characterised by a lack of transparency and accountability. For example, his administration is paying for subsidy, contrary to the claims that it is gone for good.
“According to his minister of finance, last year (the very same year they allegedly stopped payment of subsidy), Tinubu paid a subsidy of N3.6 trillion and this year, he is projected to pay a subsidy of N5.4 trillion.
“Why are they lying about this other than to divert money away from the Federation Account. Truth be told, Tinubu is the one causing the deepening poverty in the country.”
Vanguard
News
Spokesperson Warns Nigerians Against Fake Ministry Of Foreign Affairs Recruitment Scam

By Gloria Ikibah


News
CBN announces revised documentation requirements for PAPSS transactions

The Central Bank of Nigeria (CBN) has announced a revised documentation requirement for transactions conducted through the Pan-African Payment and Settlement System (PAPSS) in Nigeria.
This was disclosed in a statement issued by the apex bank’s acting Director, Corporate Communications, Mrs. Hakama Sidi Ali
The CBN said the new initiative is part of its ongoing commitment to foster seamless intra-African trade, financial inclusion, and operational efficiency for Nigerians engaging in cross-border payments within Africa.
Launched by Afreximbank in partnership with the African Union and the African Continental Free Trade Area (AfCFTA) secretariat in January 2022, PAPSS serves as a centralized payment and settlement platform that enables instant, secure, and efficient cross-border transactions throughout Africa.
By facilitating payments in local currencies, PAPSS minimizes reliance on third-party currencies, reduces transaction costs, and supports the rapid expansion of trade under the AfCFTA.
In a recent circular referenced TED/FEM/PUB/FPC/001/006 issued on April 28, 2025, CBN outlined the key changes to the documentation requirements associated with PAPSS transactions.
The key changes it added take effect immediately and include simplified documentation for low-value transactions, which allows customers to now use basic KYC and AML documents provided to their authorized dealer banks for low-value transactions of up to $2,000 and $5,000 equivalent in naira for individuals and corporate bodies, respectively.
“For transactions above the thresholds, all documentation as stipulated in the CBN foreign exchange manual and related circulars remains mandatory,” the bank said.
Also, the CBN added that applicants are responsible for ensuring all regulatory documents are available to facilitate the clearance of goods, as required by relevant government agencies.
“Authorized dealer banks may now source foreign exchange for PAPSS settlements through the Nigerian foreign exchange market, without recourse to the CBN.
“All export proceeds repatriated via PAPSS shall be certified by the relevant processing banks.
“The Central Bank of Nigeria urges all banks to adopt PAPSS and commence originating transactions in line with this new policy.
“In addition, CBN encourages exporters, importers, and individuals to familiarize themselves with the new requirements and leverage PAPSS for cross-border transactions within Africa,” the statement said.
News
Reps Set Stage for Nigeria’s First Legislative Conference on Renewable Energy

By Gloria Ikibah
The House of Representatives is set to host the country’s first National Legislative Conference on Renewable Energy, aimed at driving new laws, attracting investment, and pushing Nigeria further along its energy transition journey.
This was revealed during a press briefing by the Chairman, House Committee on Renewable Energy, Rep. Afam Victor Ogene, who described the event as a turning point for energy legislation in Nigeria.
He said: “The conference aims at bringing together key stakeholders and industry players to discuss renewable energy legislations, energy transition, renewable energy financing, investment opportunities and related matters.
“It’s about developing a national legislative framework on renewable energy”.
The conference, which is being organised by the House Committee on Renewable Energy in partnership with the Office of the Speaker of the House of Representatives, and the United Nations Development Programme (UNDP), will take place under the UNDP Parliamentary Development Program.
Rep. Ogene noted that recent legal reforms have created space for state governments to play a more active role in Nigeria’s power sector. He pointed to the Fifth Alteration Bill 2022 (No.33), now signed into law, which allows states to legislate on electricity matters within the national grid. Before now, states could only act on off-grid power.
In addition, he highlighted the Electricity Act of 2023, which came into effect in February 2024.
“It permits states to issue licenses for all electricity activities – generation, transmission and distribution across the entire power sector value chain,” he said.
The Committee Chairman further stated that the new National Integrated Electricity Policy, expected in 2025, will guide states in forming new electricity markets, where solar power and other renewable sources will be key to reaching underserved communities.
Ogene explained, “The conference has three clear objectives:
“To promote dialogue among legislators, experts and stakeholders on critical legislative priorities.
“To establish a coordinated platform for federal and state lawmakers, and to produce a clear, time-bound legislative action plan.
“International partners are also on board. The Inter-Parliamentary Union (IPU) will participate, and parliaments from South Africa, Ghana and Gambia have confirmed attendance. Ghana is sending a three-man delegation led by the Deputy Speaker, Rt. Hon. Alban Kingsford Bagbin”.
In another major highlight, the Netherlands-based platform INCLUDE will host a Pan-African Legislative Dialogue session on renewable energy, to be chaired by the Hon. Speaker, Rt. Hon. Abbas Tajudeen.
“The session will focus on how to establish a unified legislative framework on renewable energy development, investment and financing.
“The time has come for us to act. This is not just another conference – it is the foundation of Nigeria’s renewable energy future”, Ogene added.
Expected outcomes from the conference include new policy and legislative reform proposals to boost renewable energy use, as well as draft laws that will encourage public and private sector investment.
Other goals are to enhance collaboration between federal and state lawmakers, raise public awareness, and roll out a practical roadmap for implementation and progress tracking.
The event will also feature a technology showcase of renewable energy innovations and business opportunities.
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