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Okonjo-Iweala Tells Country “Don’t Touch CBN, Economic Policies That’s Working “

But where things are working to the good, we ask, why fix what is not broken?

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Ngozi Okonjo-Iweala, the Director-General, of World Trade Organisation (WTO) has advised Nigerian governments not to tamper with the economic and social policies that are working.

She gave the advise during the Annual General Conference of the Nigerian Bar Association (NBA) themed ‘Pressing forward: A National Posture for Rebuilding Nigeria.’

In a keynote address,  Ngozi Okonjo-Iweala, said : “I’m here to speak to all governments of my country, all political parties, all Nigerians, about a positive way forward for the country.

We all understand that where policies are bad and not working, of course politics should intervene.

“But where things are working to the good, we ask, why fix what is not broken?

“No one should tamper with the Central Bank asking for the manipulation of interest rates or exchange rates.

Do not use the Central Bank as a fiscal agent asking for the printing of naira beyond agreed Ways and Means limits as this can fuel inflation.

At the event in Lagos, Ngozi Okonjo-Iweala, decried a phenomenon among the political leaders she labelled as the “not-in-my-administration syndrome” of jettisoning policies.

The economist believes certain sacrosanct policies should not be changed whenever there is a change in administration.

The former finance minister said: “Nigeria today is not where it should be, and our country has not progressed as it should have.

“That is why, more than 60 years after independence, we are still discussing nation-building.

“But we must shift our focus from blame games to concrete actions that tackle present and emerging challenges.

I said this not in recrimination or even in futile regret, but rather as part of moving our country and advancing its interests.
I’m not here to castigate or blame anyone.

“By social contract, I mean a fundamental cross-party, cross-society agreement that certain things in the economy, in the country, in policy and society are sacrosanct and shall not be touched or changed when administrations change.”

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JUST IN: President Tinubu set to return to Nigeria after Saint Lucia, Brazil trip

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President Bola Tinubu is expected to return to Nigeria on Saturday (today) two weeks after his two-nation visit to Saint Lucia and Brazil.

The President’s spokesman, Bayo Onanuga announced this in a post on his official X handle.

Recall that Tinubu departed Abuja for Saint Lucia and Brazil on Saturday, June 28, 2025.

The President paid a state visit to Saint Lucia as part of efforts to deepen Nigeria’s engagement with Caribbean nations and strengthen South-South cooperation.

Tinubu on July 4th departed Saint Lucia for Brazil where he attend the 2025 BRICS Summit, held July 6-7, 2025.

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CBN And Bank of Industry Partner With CEAN To Stabilise Nigeria’s Creative Sector Post-COVID

For more than a decade, CEAN has played a vital role in connecting Nigeria’s informal creative workforce to structured policy, funding, and formal economic opportunities.

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September 12, 2022, Lagos, Nigeria

In a bold and strategic move to rescue Nigeria’s creative industries from the lingering economic shocks of the COVID-19 pandemic, the Central Bank of Nigeria (CBN) and the Bank of Industry (BOI) partnered with the Creative Entrepreneurs Association of Nigeria (CEAN) to design and implement a nationwide intervention targeting vulnerable creative businesses.

The collaboration, launched in mid-2022, marks a milestone in the recognition of Nigeria’s creative economy as a critical pillar of national development—and affirms CEAN’s position as a trusted stakeholder in industry policy and infrastructure development.

Responding to a Sector in Crisis

The partnership was galvanized by CEAN’s early post-pandemic white paper, “Creating Through Crisis: The Future of Nigerian Creativity Post-COVID.

It presented compelling data and policy recommendations that influenced federal strategy.

While other sectors received initial support under the government’s economic recovery plans, it was CEAN’s persistent advocacy and detailed sector mapping that brought national attention to the creative industries’ urgent needs.

CEAN’s nationwide rollout had seen the training of over 2,000 creative entrepreneurs, advisory support to more than 500 micro-businesses, and the establishment of regional Creative Recovery Hubs in Lagos, Abuja, and Enugu.

“From day one of the pandemic, we understood that Nigeria’s cultural workforce—millions strong—was at risk of collapse,” said Adebowale Ewedemi, CEAN founding executive and veteran media entrepreneur.

“We didn’t just lobby for change; we brought the tools, the structure, and the roadmap,” said Ewedemi.

From Blueprint to Implementation

The result was a landmark intervention program backed by BOI and regulated by CBN, with CEAN serving as the official implementation partner.

The program delivers targeted support to struggling sub-sectors including independent film, performance art, fashion, radio, music, design, and digital content production.

Highlights of the program include:

• Access to low-interest working capital for creative entrepreneurs

• Training grants and accelerator programs for skill development

• Support for studio and performance infrastructure

• Technical assistance for digital transformation and business retooling.

CEAN’s nationwide rollout had seen the training of over 2,000 creative entrepreneurs, advisory support to more than 500 micro-businesses, and the establishment of regional Creative Recovery Hubs in Lagos, Abuja, and Enugu.

Sustained Leadership in Nigeria’s Creative Economy

This intervention is only the latest in CEAN’s long record of national impact. During the peak of the COVID-19 lockdowns, the association served as a frontline support system—offering emergency relief, transitioning training programs online, and shaping portions of the Federal Government’s Survival Fund.

For more than a decade, CEAN has played a vital role in connecting Nigeria’s informal creative workforce to structured policy, funding, and formal economic opportunities.

Through this work, the association—under Ewedemi’s leadership—has consistently introduced original models, innovative frameworks, and institutional partnerships that define sustainable creative sector governance in Africa.

Architects of a New Creative Economy

This partnership with CBN and BOI reflects a broader understanding that Nigeria’s future is tied to the creative ingenuity of its people—and that long-term development requires strategic institutions with deep insight, trust, and capacity.

“We’re proud to move beyond advocacy into implementation. This is not a moment—it’s a movement. We are helping to reshape the creative industry into a nationally recognized economic force, ”said Ewedemi.

As the creative sector continues to recover and rebuild, CEAN remains committed to ensuring that no artist, content creator, or cultural innovator is left behind.

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President Tinubu congratulates Governor Okpebholo on Supreme Court Victory

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Nigeria’s President, Bola Ahmed Tinubu has congratulated Governor Monday Okpebholo of Edo State on the affirmation of his election by the Supreme Court.

The Edo State governorship election took place in September 2024, and Governor Okpebholo was declared the winner by the Independent National Electoral Commission (INEC).

The Supreme Court, as the final arbiter, upheld the election of the governor today.

According to the press statement signed by Bayo Onanuga, Special Adviser to the President (Information & Strategy), President Tinubu encourages Governor Okpebholo to be magnanimous in victory and rally the citizens of Edo across divides towards a singular vision of advancing the state’s development.

The President advises that now that the governor has cleared the legal hurdles, it is time for him to accelerate the delivery of exceptional services and good governance to the people of Edo State, which he has already begun to do.

President Tinubu also congratulates the leadership and members of the All Progressives Congress (APC) in Edo State and calls for cohesion and dedication in effectively discharging the mandate given by the people.

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