News
How Nationwide Protests Forced Us To Listen To Nigerians – Says Tinubu
By Kayode Sanni-Arewa
Senator Abubakar Bagudu, the Minister of Budget and Economic Planning, has stated that the recent nationwide #EndBadGovernance protests compelled the federal government to heed Nigerians’ demands.
Speaking at the ‘’Nigerian Economic Summit Group National Economic Dialogue on Nigeria’s Economic Future: 25 Years of Democracy and Beyond,” Bagudu attributed the country’s current issues to previous administrations but noted President Bola Tinubu’s refusal to assign blame.
While noting that efforts were in progress to improve the country’s fortunes, Bagudu said: “We have learnt that even the current protests have made us listen more. Whatever we are doing, we have taken the message that we need to do more, we need to do better, and we need to do it in a hurry.”
Speaking further, the minister said: “President Bola Tinubu has been very reluctant to reflect on the past and blame anybody, but the net effect is that despite efforts by previous administrations, especially in the last 25 years, we are not where we want to be.
“So, what do we do? It’s not because of anyone’s failing, but that is our reality. We have yet to achieve the income per capita that we require, and it’s not for lack of trying; it’s not for lack of successes. With the transformation in the telecommunication sector, at some point, we even reversed our gross domestic product, GDP.
‘’Our population has grown from 119 million in 1999 to about 230 million, almost double. Still, our oil production, for example, 2.2 million barrels in 1999, is now rather than 4 million, according to the doubling of our population, which is still under 1.5 million, reflecting cumulative years of under-investment in the sector.
“So, our reality is that we are not where we want to be, and our constitution needs to be more transparent about what we should do. Chapter 2 of our Constitution, the Fundamental Objectives and Directive Principles of State Policy, clearly discusses the country’s political objectives. It is also very clear about the economic objectives—what kind of economy we want to run.
“Chapter two of the Constitution spells out citizens’ duties. The chapter opens by saying that all persons in authority, legislative, executive, and judicial, at all levels of government, have the primary mandate to ensure the achievement of those fundamental objectives in Chapter 2.
“So, the constitution—maybe we can interrogate it and make it better—provides a starting point. Agenda 2050 reflects those objectives. We want a nation that includes all. We want a higher per capita by the year 2050. We want to ensure that we invest not less than $100 billion annually.
‘’But if our experience in the last 25 years should serve us as a guide, we sometimes know how difficult it is because you have to make choices that are both pleasant and unpleasant to be able to mobilise capital, private and borrowed, to support our aspiration.”
The Inspector-General of Police, Kayode Egbetokun, the Nigeria Police Force has directed his men to resume the issuance of tinted glass permits across the country.
This development was announced in a statement released on Wednesday by the Force Public Relations Officer, Olumuyiwa Adejobi.
According to the Force spokesperson, the move comes in response to rising concerns and complaints from the public over the harassment of vehicle owners by law enforcement agents for using factory-fitted tinted windows.
“The Nigeria Police Force, under the directive of the Inspector-General of Police, IGP Kayode Adeolu Egbetokun, Ph.D., NPM, has reactivated the issuance of Tinted Glass Permits (TGP) nationwide through a secure and user-friendly digital platform.
“This initiative comes in response to widespread public complaints about the harassment of motorists over the use of tinted windows and reflects the need for a clear, transparent, and accountable process for regularising factory-fitted tinted glass on vehicles”, the statement partly read.
Highlighting the prevalence of modern vehicles designed with tinted windows for comfort and aesthetics, the police emphasised the importance of having a formal system to regulate usage.
“With modern automobiles increasingly manufactured with tinted windows, it has become essential to provide a standardised system that accommodates legitimate use while ensuring public safety.
“Tinted vehicles have often been exploited for criminal purposes, including kidnapping, armed robbery, ‘one-chance’ scams, and other forms of banditry”, Adejobi explained.
According to the statement, the abuse of tinted windows by criminals creates operational challenges for law enforcement and compromises national security.
In addition, he explained that law enforcement will begin active implementation after the grace period, and the police warn that officers who misuse the enforcement process will be sanctioned.
“Enforcement will commence at the end of this period. Officers found engaging in unprofessional conduct, such as extortion or harassment, in the course of enforcement will be decisively dealt with in accordance with extant disciplinary procedures”, he said.
By Gloria Ikibah
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.
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