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CSO backs CBN Governor Cardoso, urges patience on stabilisation of naira value

A Civil Society Organisation, Save Nigeria Movement (SNM) has thrown its weights behind the Governor of the Central Bank of Nigeria (CBN), Dr Yemi Cardoso over ongoing effort to reposition the economy of the country.
Convener of the CSO, Rev Solomon Semaka addressing a press conference in Abuja called on Nigerians to be patient with the team put together by the CBN Governor to right the wrongs of the past in line with the renewed hope agenda of President Bola Ahmed Tinubu led administration.
The rights group expressed confidence that with the removal of forex restrictions on multiple consumer goods, the economy will rebound with the attendant improvement on the standard of living of Nigerians.
SNM pointed at the stability of the naira against the dollar in recent times to buttress its position.
“These are no mean feats and all the new CBN team needs right now is our cooperation,” the group noted.
“Yemi Cardoso and his team have done so well. They have cleared the mess we found ourselves especially including abolishing his anti-people naira redesign policy. We will continue to partner, mobilize and support every laudable of the CBN if it will serve the interest of the people.
Continuing, the group noted: “Governor Yemi Michael Cardoso has demonstrated an earnest readiness to work for Nigerians in line with the Renewed Hope Agenda of Mr. President in reforming the Apex bank and restoring the confidence of Nigerians in the banking sector generally.
“Contrary to often politicised policies of his predecessors, Mr. Yemi has sauntered into office with a clear mission and vision to sanitise and eradicate all forms of unprofessionalism not just in the apex bank but across all commercial banks it regulates.
” Just few days ago, errant commercial banks were sanctioned for contravening various regulations with heavy fines to serve as deterrent to others. A brave and courageous sheriff is in town and there must be order!
“Under Yemi Cardoso’s reign, several policies have been introduced to stabilise the naira with obvious changes as the Nigerian naira is now appreciating rapidly against foreign currencies especially the dollar. With investor confidence restored and speculative demands for the dollar addressed, the fluctuations in the parallel market are now a thing of the past.
“There’s fairly enough liquidity now both at the official and parallel market and that has helped to stabilise the naira greatly. Another giant stride of the Cardoso led CBN is the unification of all segments of the foreign exchange (FX) market, signalling the end of its control of the forex market. Since the decision — which was in compliance with the federal government’s directive — the exchange rate of the local currency has been determined by market forces.
“Similarly, new foreign exchange rules — including a crackdown on illegal currency trading which is intended help the naira closing its more-than-45% gap with the unofficial rate and reaching a “fair price” by year-end has been achieved, courtesy of the new CBN team.
“The CBN has cleared a backlog of dollar demand estimated at about $6.7 billion which has bolstered the naira forward market with a set transparent rules for the operations of the official market. Cardoso deserves commendations for his efforts and civil society organisations are deeply appreciative of his foresight and professionalism.”
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SERAP sues Akpabio over ‘failure to reverse unlawful suspension of Natasha Akpoti’

The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against Senate President Godswill Akpabio over the suspension of Senator Natasha Akpoti-Uduaghan. The group argues that the suspension is unlawful and violates her fundamental right to freedom of expression.
SERAP is seeking a court order compelling Akpabio to reverse the six-month suspension, reinstate Akpoti-Uduaghan, and restore all her legislative privileges. The organization also wants an injunction preventing the Senate from imposing further disciplinary actions against her for expressing her views.
Senator Akpoti-Uduaghan was suspended after she reportedly spoke without permission and rejected a new seat assignment in the Senate chamber. As part of her suspension, her salary and allowances have been withheld, and she has been barred from identifying as a senator.
In its suit filed at the Federal High Court in Abuja, SERAP contends that the suspension deprives Akpoti-Uduaghan’s constituents of political representation. The organization also argues that penalizing a senator for exercising free speech creates a chilling effect on other lawmakers.
“No one should ever be punished for speaking without permission,” SERAP stated. “The Senate should uphold the rule of law and protect human rights, not suppress them.”
The group cites constitutional provisions and international human rights treaties, including Section 39 of the Nigerian Constitution, the African Charter on Human and Peoples’ Rights, and the International Covenant on Civil and Political Rights.
SERAP maintains that the Senate Standing Orders cannot override constitutional guarantees of free speech. The lawsuit emphasizes that restricting a senator’s expression undermines democracy and violates Nigerians’ right to receive information and participate politically.
No date has been set for the hearing of the case.
News
Market associations, women groups knock el-Rufai, rally support for Tinubu, Gov Sani

Ahead of the 2027 elections, hundreds of members of market associations and numerous women groups in Kaduna state at the weekend, occupied Kaduna metropolis in a peaceful demonstration where they reiterated their loyalty and support to the administration of
Governor Uba Sani of Kaduna state and President Bola Ahmed Tinubu.
The protesters who alleged that they had bitter experiences during the El-Rufa’i administration, said they would remain where Governor Uba Sani stood and advised the citizens of Kaduna not to be deceived by doing the contrary.
They recounted their ordeals during the 8 years of the previous administration, alleging that hundreds of market shops belonging to individuals were either seized, demolished or confiscated, a situation that triggered ill health in many traders and business owners leading to paralysis and multiple deaths of their colleagues.
“We’ve been in the market for over 40 years and have never experienced the kind of set backs we suffered under the previous Governor.”
“A lot of lives were lost,a lot of finances were ruined by reason of his kind of policies. We are here to speak with one voice and say that anything that would kind of revive such kind of philosophy in Kaduna market, we don’t want it,” Daniel Audu Maigari, a stakeholder of the Kaduna Market associations, has said.
He explained that “this incumbent Governor began by healing the wounds, the wounds that were really severed by the former Governor. Governor Uba Sani has been doing so,so very well and that’s why we’ve been with our leader, Alhaji Abdurrahman Mohammed, who like Governor Sani,has been charting the right course, ensuring programmes and plans that will heal these wounds .”
He said there was never been a time they are having the impact of leadership in Kaduna market, like they are having now.
” Now we’ve lots of incentives, lots of policies that are driving us to progress .We are now standing with one voice to denounce anything that would reverse this,” he said.
Alhaji Daiyabu Ismail Mai Gwanjo, Chairman Stakeholders of the Kaduna State Market Traders associations, said on behalf of their leader,Alhaji Abdurrahman Mohammed, his EXCO and all trader leaders in the 23 Local Government Areas of Kaduna State, they have gathered to unilaterally declare an unalloyed support to Governor Uba Sani who had taken care of them and protected their interests.
According to him,” we have to say so,haven had the harrowing experience in the hands of the past administration. The scar still remains and many are yet to recover.”
“But when Almighty Allah sent Governor Uba Sani to us,he declared he would not do anything bad to traders because the world thrives on businesses.All the most cherished countries like China, Canada, UAE, India,are very proud of and supportive to their traders and other business persons.”
“Unfortunately, we found ourselves during the previous administration that neither showed empathy nor sympathy to traders. An approximate number of 36 markets were demolished at that time.None of these markets was completely rebuild ,till date,and we are suspicious of the collaboration between the previous administration and the market developers.”
“We are therefore calling on Governor Uba Sani, our Governor of sympathy and understanding, to look at this issue with a view to resolving it.We are with Uba Sani a hundred percent, ” he added.
Hajiya Hadiza Abdulaziz,a woman leader of the market association,said they have gathered in multitudes to reiterate their support to the APC and Governor Uba Sani who has tremendously supported the market men and women in Kaduna State.
” Most of the market women had no shops because the shops were collected. But now we give God the glory everybody has gotten their shops back and nobody will collect it again,” she said.
She expressed happiness that those making the market women not to achieve, had left the party and government.
“We’ve been crying, a lot of market women don’t have capital, they have been deceiving us.But now,I believe Governor Uba Sani is going to assist us,”she added.
The protesters later took to the streets ,displaying placards with various inscriptions denouncing the previous arrangements, and chanting slogans in support of President Bola Ahmed Tinubu, Governor Uba Sani and the All Progressives Congress, APC.
” Most of the market women had no shops because the shops were collected. But now we give God the glory everybody has gotten their shops back and nobody will collect it again,” she said.
She expressed happiness that those making the market women not to achieve, had left the party and government.
“We’ve been crying, a lot of market women don’t have capital, they have been deceiving us.But now,I believe Governor Uba Sani is going to assist us,”she added.
The protesters later took to the streets ,displaying placards with various inscriptions denouncing the previous arrangements, and chanting slogans in support of President Bola Ahmed Tinubu, Governor Uba Sani and the All Progressives Congress, APC.
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