Connect with us

News

I’ll Work With Other Stakeholders To Bring Lasting Peace To Nigeria – Acting COAS

Published

on

The Acting Chief of Army Staff, Olufemi Oluyede, has pledged to bring lasting peace to the country if confirmed in a substantive position.

He said this when he appeared before the House of Representatives Joint Committee on Defence and Army at the National Assembly Complex in Abuja on Wednesday.

He stressed that the security environment in the country today requires a united effort on the part of every Nigerian.

He also called for strong bilateral and multilateral alliances with neighbouring countries, as well as deep collaboration and joint efforts by the services and other security agencies.

Advertisement

He said, “I am honored this evening to be considered worthy to play a part in these efforts and I look forward to contributing my utmost best by working with the National Assembly and other stakeholders in bringing lasting peace to the length and breadth of our dear country Nigeria.

“I humbly appear before you today to be confirmed as the 24th Chief of Army Staff of the Nigerian Army simply because tragedy befell our Army and Armed Force, and as a nation in total when the 23rd Chief of Army Staff, Lieutenant General Taoreed Lagbaja passed after a brief illness.

“Although before his passing, I had been appointed by Mr. President, His Excellency Bola Ahmed, to act in his place pending his expected full recovery and resumption of duty as the Chief of Army Staff then.

“After Lieutenant General Lagbaja’s demise and state funeral on 15 November 2024, Mr. President, in his wisdom, found me worthy to fully continue the excellent job the Army has been doing here and get confirmed by the National Assembly.

Advertisement

“I have served this great nation as an officer of the Nigerian Army for over 30 years. My exposure to national security issues at the junior, middle, and senior cadres of the military profession has prepared me adequately for the assignment I am being screened for here today.

“In the past five years or thereabout, I have operated at the senior operational and management levels of the Nigerian Army and I have somewhat been part of the running of the service in its entirety.

“Thus, I cannot completely distance myself from the successes or setbacks of our great army in the past couple of years. However, I see my nomination as the Chief of Army Staff as a privileged opportunity to be in the driver’s seat and bring about more positive changes to the Nigerian Army to enable it to fulfil its
constitutional responsibilities.

“Thus, if confirmed by this joint committee and given the common mandate to lead the Nigerian Army during this period, I promise to do my best to justify the confidence imposed in me by the appointing authority which is His Excellency Asiwaju Bola Ahmed Tinubu, the confirming authority which is you members of the National Assembly and the generality of Nigerians.

Advertisement

“Let me underscore that the security environment will find ourselves as a nation requires a united effort on the part of every Nigerian. We also need strong bilateral and multilateral alliances between our country and our neighbors, as well as deep collaboration and joint efforts by the services and other security agencies.

“I a’m glad that this administration of His Excellency Bola Tinubu is on the right path to providing the enabling security environment for socioeconomic activities to thrive and restore a dear country to the path of pride and success,” he said.

He also said the Nigerian Army requires tactical aircrafts.

He said, “Aircrafts have different strata of employment. We have the tactical and the strategic strata of employment. Now the air support that we require as an army is the one at the tactical level, whereby the aircraft should be ready at the force during operations, the combat operations, at the tactical level, while the air force, being the main players in that sphere, are to give us strategic cover. So we require those aircraft and the air wing to support our operations,” he said.

Advertisement

He said there is robust cooperation between Armed Forces adding that he intends to enhance this to ensure that Nigeria has better security and better socio economic development.

Chairman of the House Committee on Defence, Hon Babajimi Benson, said Nigeria continues to grapple with an evolving spectrum of security challenges, ranging from insurgency and banditry to communal clashes and cyber threats.

He said for over a decade, the Armed Forces of Nigeria have been at the forefront of responding to these challenges, launching numerous operations and providing vital support to internal security efforts.

While commending the significant successes recorded in recent years, he pointed out that it is clear more work remains to be done to achieve sustainable peace across all regions of the country.

Advertisement

“The current dynamics of global security demand innovative and adaptive strategies. Threats are no longer confined to traditional battlefields; they now extend to cyberspace, economic domains and even the socio-political fabric of nations.

“In light of this, we must prioritize a forward-looking approach to national defence, ensuring that our military is well-equipped and adequately trained to address both conventional and emerging threats,” he said.

He said their task was not only to assess the qualifications and vision of the nominee for Chief of Army Staff but also to establish a collaborative roadmap for tackling Nigeria’s security challenges.

He said as a partner in the pursuit of a secure and prosperous Nigeria, the House remains steadfast in its commitment to legislative oversight and support for the Armed Forces.

Advertisement

Benson said the House will continue to provide the necessary legal frameworks, advocate for adequate funding and monitor the implementation of appropriations to ensure accountability and transparency in military operations.

He stressed that the position carries immense responsibility, hence the Chief of Army Staff must lead with integrity, professionalism and a deep commitment to the protection of lives and property.

“If confirmed, you will be expected to foster synergy among security agencies, prioritize the welfare of troops and uphold the trust of Nigerians. This committee will ask questions that reflect the concerns of our constituents and the nation as a whole. We urge you to provide comprehensive and candid responses to guide our deliberations.

“In closing, I wish the nominee the very best during this screening exercise. Your role is pivotal in Nigeria’s journey toward lasting peace and stability and we look forward to working with you to achieve this goal. “

Advertisement

Benson said the outcome of the screening exercise would be reviewed and presented to the House during plenary on Thursday.

News

CBN announces revised documentation requirements for PAPSS transactions

Published

on

By

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.

Advertisement

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.

Advertisement

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.

Advertisement

“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.

Continue Reading

News

Reps Set Stage for Nigeria’s First Legislative Conference on Renewable Energy

Published

on

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.

Advertisement

“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.

Advertisement

“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.

Advertisement

“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.

Advertisement

“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.

Advertisement

 

Continue Reading

News

Alleged money laundering: EFCC produces Aisha Achimugu in court

Published

on

By

By Francesca Hangeior

The operatives of the Economic and Financial Crimes Commission (EFCC), on Wednesday, arrived at the Federal High Court in Abuja with the businesswoman, Aisha Achimugu, as ordered by the court.

Achimugu, who was sandwiched by two female EFCC officers, arrived in court at about 11:35 am.

It could be recalled that Justice Inyang Ekwo had, on Monday, ordered the industrialist, alleged to have fled the country, to honour the invitation by the anti-graft agency on Tuesday at noon.

Advertisement

Justice Ekwo, who gave the order in a short ruling, also ordered the EFCC, upon the appearance of Achimugu at its office, to return with her to court on Wednesday for a report.

Achimugu was, however, said to have been arrested by the EFCC’s operatives on her arrival abroad at about 5 am and kept in custody.

Continue Reading

Trending

Copyright © 2024 Naija Blitz News