FG To Pay Unemployed, Poor Nigerians Monthly

The federal government is on the verge of fulfilling one of its campaign promises as the president Muhammadu Buhari-led administration is set to pay the poorest citizens across the country.
Making this disclosure during the 10th year anniversary lecture of Crescent University, Abeokuta was Nigeria’s vice president, professor Yemi Osinbajo, who hinted that the unemployed as well as the poor Nigerians would pocket N5,000 monthly.

According to Leadership reports, the number two citizen of Nigeria stated that government is currently evaluating the best ways to collapse existing cash transfer and social welfare schemes to ensure consistency and alignment.
“Once this is completed, we will implement the first phase of this program, using recognized identification platforms and transparent payment solutions.

“We cannot talk about the economy of the future without addressing how we move people out of poverty. One of the most striking promises we made during the campaign was the payment of Five Thousand Naira to the poorest Nigerians across the country.
“About 112 million (66% of Nigerians) are deemed extremely poor, measured by World Bank parameter of those living on less than US$1.25 per day,” Osinbajo explained.

Nigerian central bankers in custody on fraud charges.

Three senior officials from Nigeria’s central bank
and two others from a commercial bank have been
remanded in custody after appearing in court
charged with currency fraud.
The five were charged with “defrauding the apex
bank and two other banks”, Wilson Uwujaren,
spokesman for the Economic and Financial Crimes
Commission (EFCC), said in a statement late
Tuesday.
The defendants pleaded not guilty to an 11-count
indictment, which included conspiracy, fraud and
theft, at the court in Ibadan, southwest Nigeria.
Judge Ayo Emmanuel adjourned the case until June 9
for a bail application.
The five are among 22 bankers who were arrested
across the country after failing to carry out
instructions to destroy old banknotes totalling
billions of naira, Uwujaren said on Monday.
The Central Bank of Nigeria,
which handed over the
suspects for prosecution, said “anomalies” came to
light during a routine internal audit at its branch in
Ibadan in September 2014.
“It was discovered that a systematic scheme, which
has been on for several years, was being run in
which mutilated higher denomination notes
originally meant for destruction were swapped with
lower denomination currencies,” it said in an
emailed statement.

Breaking news: Shock as Senate passes 46 bills in 10mins

The Senate on Wednesday passed 46 bills into law in
less than ten minutes the bills were introduced by the
Chairman, Senate Committee on Rules and Business,
Senator Ita Enang.
But the passage of the bills in a very short time
caused uproar among Senators even after the voice
vote had been taken by the presiding officer and
Senate President, David Mark where the “Ayes ” had
their way.
As the development caused serious rowdy session,
Senator Mark, told those who were not satisfied with
the passage of the bills to come up tomorrow being
the next legislative day with their names and
signatures for consideration.
Before the bills were passed, the Senate had suspended
Order 79 (1) of the Senate Standing Orders and deemed
all the Bills as having passed first, second and third
readings on the floor of the Senate and concur to
same.