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14/06/2023

CURRENCY REDESIGN POLICY.
Currency redesign policy enables the Central Bank take control of currency in Circulation in order to combat counterfeiting, and manage inflation.
The now suspended Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on October 26, 2022, notified the public of the planned redesign of three of the Naira denominations (200, 500 and 1,000 Naira notes) and its circulation effective December 15, 2022. The old version of the same denominations would cease to be recognized as legal tender from February 1, 2023.

REASONS GIVEN FOR THE REDESIGN
1. To mop up excess cash in circulation.
2. To combat counterfeiting.
3. To stop hoarding of the Naira notes.
4. To prevent vote buying
5. Manage inflation
6. Combat ransom payment.

COST OF THIS POLICY1.
1. Cash crunch in the economy.
2. Rise in cost of food
3. High inflation rate
4. High cost of transportation.
5. Eroded confidence in the banking system.
6. Higher interest rate
7. Incessant failed bank transaction and backlog of declined transaction reversal.
8. Excessive charges on transactions by POS Merchants.

Questions begging for answers are
1. Did the Naira redesign achieve its objectives?
2. Why recirculation of the old naira notes.
3. Why are the redesigned notes still less in Circulation.
4. Was this Naira redesign policy well thought out, planned and executed?
5. What will happen by December 31, 2023? The proposed deadline for Circulation of the old Naira notes.
6. How should phasing out the old notes by December 31, 2023 be planned out?

Ekpe is a Nigerian secret society flourishing chiefly among the Efiks of the Cross River State, the Oron of Akwa Ibom St...
30/01/2020

Ekpe is a Nigerian secret society flourishing chiefly among the Efiks of the Cross River State, the Oron of Akwa Ibom State, Arochukwu and some other parts of Abia State, as well as in the diaspora, such as in Cuba and Brazil. The society is still active at the beginning of the 21st century, now playing more of a ceremonial role.

There are two distinct but related societies. The primary society is located in the Cross River, Arochukwu and Akwa Ibom areas of Nigeria, and the secondary society consists of members from the Southern and Eastern Igbo groups.

It is a general belief amongst the Efiks, although hardly ever substantiated, that the members of the Ekpe society invented the nsibidi.
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Oderinlo Balogun of Ibadan about 1850- to about 1851After the death of Bashorun Oluyole’s .Oderinlo who was his Balog...
19/01/2020

Oderinlo Balogun of Ibadan about 1850- to about 1851

After the death of Bashorun Oluyole’s .Oderinlo who was his Balogun was next in line to succeed him. Because of the purges and wars that Oluyole engineered during his time as the leader of Ibadan, all the chiefs that were senior to Oderinlo had died before Oluyole or soon after Oluyole’s own death. So there was practically no rival to Oderinlo’s position as Balogun and ruler of the town.

Oderinlo rose to prominence as one of the chiefs who played an active role in the rebellion against Lakanle and the latter’s subsequent su***de. There seemed to have been some form of close ties between him and Oluyole. It is likely to Oderinlo was at least an associate if not a close friend of the Bashorun. It was the influence of Oluyole that he became the Otun Balogun to Bankole Aleshinloye, the first Balogun under Oluyole. After Aleshinloye’s death, Oderinlo became the Balogun. Oderinlo was the Balogun who led the Ibadan troops to fight in the second Ibadan- Ilorin war at Osogbo, a war that Ibadan won comprehensively.The Army of Ibadan equally attacked Ilesa to rescue Oshogbo. From that war, the Ibadan Army ventured into Ekiti for the relief of Otun, which was attacked by Ilorin Army. They also fought in Ara to reinstate the Alara who was then having problems with his people. He was among the six generals who plotted against Oluyole after that campaign. He was also among the four who later rescinded that decision, leaving the two who did not rescind, Lajubu and Akinluyi to die in a purge by the Bashorun.

At the time Bashorun Oluyole died, Balogun Oderinlo was planning to go on a war to Oke Ogun. So when the entire council of Ibadan invited him to become the Baale He declined, saying he wanted to win that war first. Historians speculate that he wanted to gather the wealth from that war to boost his claim to the rulership of Ibadan at the time.

Balogun Oderinlo went to the war and came back. He won the war and gathered enough loot and slaves to bring back to Ibadan. However, a few months after his triumphant return to Ibadan from Oke Ogun, as he was set to be announced as the Baale of Ibadan, Balogun Oderinlo died mysteriously. To this day nobody knows how Balogun Oderinlo died, but the sudden and mysterious nature of his death has led many to speculate that he may have been poisoned. After his demise, Baale Opeagbe replaced him on the throne of Ibadan.

Balogun Oderinlo has been honoured in Ibadan, a statue of him stands at Beere not far from Mapo Hall and the statue of Bashorun Oluyole. His house and some of his descendants live not far from Oja’ba to this day. His son Tanpe, would become a chief of Ibadan.

Credit

Akinyele, I.B.(1951) Iwe Itan Ibadan ati die ninu awon Ilu agbegbe re bii Osogbo Iwo ati Ikirun.

It's one month of nonstop fun at Africa's biggest street party. Calabar Carnival 2019 tagged "HUMANITY".Be part of it. T...
16/12/2019

It's one month of nonstop fun at Africa's biggest street party. Calabar Carnival 2019 tagged "HUMANITY".Be part of it.
Tour Africa magazine
Calabar Carnival packages * Airport pick up/drop off * 3 nights accommodation * one day city tour * Ticket to view Carnival * tour services
All inclusive @ N245,000 for a family of 4
For 4 days N303,000

For 5days N361,000. All these are with the exception of your flight

Tourafrica Calabar Carnival package for one. * Airport pick up/drop off * 3 nights accommodation * Marina resort/ Slave museum* * Boat ride to twins Island *Drill ranch( primate home) * Carnival ticket * free access to all sites * Tour shuttle *Tour services *N121,000 only. *4 nights ,000 *5 nights @ N184,000

Early booking to avoid change it rates.

For more info call 08175771958,08033601591

[email protected]

[email protected]

Account details:Blessing Ojukwu. Gtbank 0007271868
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President Muhammadu Buhari announced that nationals of all African countries are free to enter Nigeria without a visa. P...
12/12/2019

President Muhammadu Buhari announced that nationals of all African countries are free to enter Nigeria without a visa.

President Muhammad Buhari said this in Egypt at the ongoing Aswan Forum, according to Ambassador Ahmed Awad, Minister of Foreign Affairs and International Cooperation of the Federal Republic of Somalia.

Awad, who was at the Aswan Forum in a tweet said that starting from January 2020, all Africans will be able to arrive in Nigeria without visa.

He said, “I wish to profoundly commend President of who just announced at the Aswan Forum complete visa exemption for all Africans.

"Starting January 2020, Africans will be able to arrive in Nigeria without visas.

"It’s such an exemplary decision. Thanks your Excellency."
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#2020

09/12/2019

What is tourism? How do you see African tourism?www.tourafricamag.net
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It's one month of nonstop fun at Africa's biggest street party. Calabar Carnival 2019 tagged "HUMANITY".Be part of it. T...
05/12/2019

It's one month of nonstop fun at Africa's biggest street party. Calabar Carnival 2019 tagged "HUMANITY".Be part of it.

Tour Africa magazine
Calabar Carnival packages
* Airport pick up/drop off
* 3 nights accommodation
* one day city tour
* Ticket to view Carnival
* tour services
All inclusive @ N245,000 for a family of 4
For 4 days N303,000
For 5days N361,000. All these are with the exception of your flight

Tourafrica Calabar Carnival package for one.
* Airport pick up/drop off
* 3 nights accommodation
* Marina resort/ Slave museum*
* Boat ride to twins Island
*Drill ranch( primate home)
* Carnival ticket
* free access to all sites
* Tour shuttle
*Tour services
*N121,000 only.
*4 nights ,000
*5 nights @ N184,000
Early booking to avoid change it rates.
For more info call 08175771958,08033601591
[email protected]
[email protected]
Account details:Blessing Ojukwu. Gtbank 0007271868

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