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Reps invite CBN gov for lifting forex ban on toothpicks, others

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The lifting of the ban on foreign exchange for 43 items by the Central Bank of Nigeria may ruin local economy, a member of the House of Representatives, Sada Soli, warned on Tuesday on the floor of the House of Representatives.

This is just as the House invited the Governor of the Central Bank of Nigeria, Yemi Cardoso, to appear before it following the apex bank’s decision to lift the foreign exchange ban on fertiliser, cement, toothpick, and 40 other items.

The 43 items were in 2015 restricted from accessing forex at the official market rate.

CBN’s sudden decision to lift the ban comes against the backdrop of high volatility levels experienced in the foreign exchange market owing to the unification of all trading windows into the investors’ and exporters’ window (the official FX market) by President Bola Tinubu’s administration.

The apex bank had in a statement issued by its Director of Corporate Communications, Isa AbdulMumin said, “The CBN reiterates that the prevailing Foreign Exchange (FX) rates should be referenced from platforms such as the CBN website, FMDQ, and other recognised or appointed trading systems to promote price discovery, transparency, and credibility in the FX rates.”

At a plenary session on Tuesday, the Green Chamber passed a resolution to summon the CBN governor following the adoption of a motion of urgent public importance sponsored by Sada Soli, a member of the House representing Jibia/Kaita Federal Constituency, Katsina State on the platform of the All Progressives Congress.

Justifying the significance of the motion, Soli said the decision of the apex bank may lead to the closure of factories and ultimately erode the nation’s capacity to build the local economy.

In his words, it is doubtful if the new policy would make any meaningful impact on the Nigerian economy, stressing that “middlemen” may take undue advantage of it for their own good.

Contributing to the motion, a lawmaker representing Oshodi/Isolo II Federal Constituency, Lagos State, Jesse Onuakalusi, called for the immediate reversal of the policy until the House concludes a legislative action on the matter; a prayer that was rejected by the lawmakers.

An amendment to the motion by Kingsley Chinda, representing Obio/Akpor Federal Constituency, Rivers State noted that the Cardoso should appear before the House Committee on Regulatory Banking, Finance and Customs to explain the rationale behind the lifting of the ban was thereafter adopted.

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Senate Rule Amendment: Debate Should Focus on Institutional Stability, Not Personalities – Eyiboh

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The heated controversy triggered by the recent amendment to the Senate Standing Rules has been dominated by personalities and emotions rather than substantive institutional issues, Rt Hon Eseme Eyiboh has said.

In a strongly worded statement, the Special Adviser on Media and Publicity to the Senate President argued that the core question before the Senate is not about Senator Godswill Akpabio or Senator Adams Oshiomhole, but whether Nigeria’s legislature should strengthen itself through rules that promote continuity, competence, and long-term stability.

Eyiboh noted that every serious institution worldwide periodically reviews and updates its rules in response to practical experience. “The refusal to review procedures in the face of experience is often a sign of stagnation, not democracy,” he said.

The amendment, which sets a minimum legislative experience threshold for senators aspiring to presiding and principal offices, should be examined through the lens of institutional development, he added.

The former House of Representatives member emphasised that the Senate Presidency is one of Nigeria’s most sensitive constitutional positions. It demands more than political popularity — it requires deep knowledge of parliamentary procedures, committee systems, constitutional interpretation, negotiation, and intergovernmental relations.

“Experience matters,” Eyiboh stressed.

He acknowledged that critics have valid concerns that experience requirements could entrench incumbents and create a closed oligarchy. However, he maintained that the proper response is not to reject minimum standards, but to set a reasonable bar — such as one full term or proven committee leadership — and commit to periodic review to prevent the rule from becoming a barrier to fresh talent.

“Experience without openness becomes arrogance; openness without experience becomes amateurism,” he said. The amendment, according to him, tilts towards correcting amateurism while safeguarding institutional stability.

Eyiboh dismissed suggestions that the rule change was merely intended to shrink competition or protect personal interests. He argued that institutions grow stronger by learning from experience and refining their processes, not by freezing rules indefinitely.

On calls for Senate President Godswill Akpabio to resign if the new qualification is enforced, Eyiboh described the argument as fundamentally flawed. He pointed out the well-established legal principle that laws and rules apply prospectively, not retroactively.

“Senator Akpabio emerged under the rules in existence at the time. Applying today’s standards to yesterday’s mandate is neither legally sustainable nor institutionally rational,” he said.

The statement urged Nigerians and senators to elevate the discussion above personal rivalries and chamber politics. While affirming Senator Oshiomhole’s right to hold dissenting views, Eyiboh insisted the debate must centre on whether the amendment strengthens the Senate as a durable institution.

“Institutions outlive individuals,” he concluded. “Senate Presidents will come and go. But the rules and traditions we establish today will shape legislative stability for decades to come.”

Rt Hon Eseme Eyiboh, mnipr, is a former Member and Spokesperson of the House of Representatives and currently serves as Special Adviser on Media/Publicity and Official Spokesperson to the President of the Senate.

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President Tinubu Cheers US, Nigerian troops elimination of ISIS top leaders, Lauds Trump (Video)

“I commend the personnel involved on both sides for their professionalism and courage, and I look forward to more decisive strikes against all terrorist enclaves across the nation.

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President Bola Tinubu, strengthened by the US military Command vows more decisive strikes against all terrorist enclaves across the nation.

President Tinubu was reacting to Saturday’s overnight successful joint counterterrorism operation carried out by Nigerian and United States forces against an Islamic State hideout in the Lake Chad Basin which resulted in the elimination of a wanted Islamic State senior leader, Abu-Bilal Al-Manuki, also known as Abu-Mainok, alongside several of his lieutenants.

In a State House statement issued on Saturday by Bayo Onanuga, the president’s aide, Tinubu said “Our determined Nigerian Armed Forces, working closely with the Armed Forces of the United States conducted a daring joint operation that dealt a heavy blow to the ranks of the Islamic State.

The president stated that early assessments confirmed that the strike targeted the terrorist leader’s compound in the Lake Chad Basin.

Tinubu however expressed appreciation to the United States for supporting Nigeria’s counterterrorism efforts and advancing shared security objectives.

The president also thanked Donald Trump for what he described as leadership and unwavering support in the operation, saying, “I extend my sincere gratitude to President Trump for his leadership and unwavering support in this effort.”

He further commended military personnel from both countries for their professionalism and courage during the operation.

“I commend the personnel involved on both sides for their professionalism and courage, and I look forward to more decisive strikes against all terrorist enclaves across the nation.

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Many Trapped in Abuja Collapsed Building , 3 Dead (Video)

Eyewitnesses said that about 70 workers were on site at the time of the incident at the building located around Gaduwa Estate in the Gudu area.

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Tragedy struck in the Durumi 3 area near Gudu Market, Abuja, after a three-storey building under construction collapsed on Saturday moring leaving at least three persons dead.

Eyewitnesses said that about 70 workers were on site at the time of the incident at the building located around Gaduwa Estate in the Gudu area.

Three bodies had been evacuated as of the time of filing this report, while rescue efforts were still ongoing to save other victims trapped beneath the rubble.

Officials and emergency responders were seen at the scene carrying out search-and-rescue operations as anxious residents gathered around the area.

The cause of the collapse is yet to be officially confirmed at the time of this report.

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