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Why FAAN, CBN must return to Lagos – FG

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***Says We’re Working To Fight inflation, Stabilize Foreign Exchange Rates

The Federal Government has opened up on the planned relocation to Lagos of the Headquarters of the Federal Airports Authority of Nigeria (FAAN), and of certain departments of the Central Bank of Nigeria (CBN), describing it as pragmatic administrative steps to improve operational efficiency and reduce operating costs.

We must all stand together as one, against these forces that constantly seek to test and break the bonds that hold us.

While dispelling insinuations that the relocations were political moves aimed at marginalizing a section of the country, the government said the allegations were unfounded.

The Minister of Information and National Orientation, Mohammed Idris, made the clarification in a statement, sent to Arise News in Abuja on Sunday night.

On the economic front, the Minister said government is working in coordinated fashion, to bring down inflation, stabilize foreign exchange rates, and create a truly enabling environment for business and investment.

He said that as Nigeria tackles its challenges with urgency and dedication, it was also necessary to remind citizens of the need to resist all forces and narratives of misinformation and division.

According to him, the security agencies have done well to check the trend of insecurity in the country, while the government would provide support for anti-corruption agencies to sustain the fight against graft.

Idris said, “Impactful interventions are being rolled out, including a Students’ Loan Scheme, a Presidential Initiative to deploy lower-cost CNG mass transit buses to provide alternatives to petrol and diesel, and various low-interest loan schemes for businesses. The CNG interventions will bring down the cost of transportation by more than 50 percent. We urge Nigerians to take advantage of these opportunities as they emerge, as they have been designed for the benefit of all.

“For example, it is not true that the relocation to Lagos of the Headquarters of the Federal Airports Authority of Nigeria (FAAN), and of certain departments of the Central Bank of Nigeria (CBN), are political moves aimed at marginalizing a section of the country. These allegations are unfounded. Instead, these are pragmatic administrative steps to improve operational efficiency and reduce operating costs.

“I would like to urge all Nigerians to be especially mindful of all persons and groups at home and abroad, who specialize in making false and inciting claims on radio, TV and social media, as well as in peddling altered videos and images for viral dissemination. We must all stand together as one, against these forces that constantly seek to test and break the bonds that hold us.

“Nigeria belongs to all of us, and the work of building the Nigeria of our dreams is one that must be done by everyone, regardless of our religious faith or ethnic group or geopolitical zone. It is for this reason that we have produced the Nigerian National Values Charter (NVC), a documentation of the social contract between Government and the citizens, as one of the ways to restore a national sense of hope, trust and solidarity.

“As part of this focus on earning the trust of Nigerians, the fight against corruption will continue, and will intensify. Determined to ensure that there are no sacred cows, and that public funds are applied wholly for the public good, President Tinubu is providing the anti-corruption agencies with the support required to fulfill their mandate.

“We will not succeed at building the Nigeria of our dreams if we insist on focusing only on our challenges and problems, and not the abundant opportunities and positive narratives that we are surrounded by. We recognize the fact that the country continues to enjoy genuine enthusiasm for investment from local and foreign investors.

“In the opening weeks of 2024, our Stock Market has already put us on the global map for the impressive returns being delivered. The Indian businesses that pledged $14 billion in new investment in Nigeria on the sidelines of the G20 Summit in India in September 2023 have since started making good on those pledges. Across oil and gas, agriculture, consumer goods, renewable energy, healthcare, ICT and many other fields we are seeing global and local businesses demonstrating unshakable belief in the limitless possibilities that Nigeria embodies.

“The heartwarming exploits of our beloved Super Eagles at the ongoing African Cup of Nations in Cote d’Ivoire are another case in point; a timely reminder that the things that bind us together as one are much deeper than the things that separate and divide us. Let us never forget what is truly possible: that instead of division and hatred, we can live and thrive in unity and hope, assured that, despite the temporary challenges and setbacks that we face from time to time, a glorious dawn is just around the corner.

“There is no downplaying the reality of the challenging season that we find ourselves in as a nation: the impact of inflation on personal and household budgets, and the threats to security in parts of the country. But that is only part of the story. Just as important are the various bold measures that the Federal Government of Nigeria, under the leadership of President Bola Ahmed Tinubu, is taking to decisively confront all of these challenges. We fully acknowledge the duty and the responsibility of care that the Federal Government owes to every Nigerian, across the lines of age, gender, religion, ethnicity, and social class.

“In the area of security, all threats are being boldly confronted. We are taking the fight to the criminals’ dens, with promising results. Within the last week, several bandits, kidnappers and militants have been neutralized or arrested.
The resurgent crisis in Plateau State is indeed highly regrettable, and we assure that all perpetrators of violence there, and everywhere else in the country, are being brought to book. Justice will be done, and peace will be restored in all affected communities. We salute the gallantry of security and intelligence agencies who are leaving no stone unturned to ensure that we are safe in our homes and on the highways, and that criminals have no breathing space.

“Regarding the economy, all relevant Ministries and Agencies of the Federal Government are working in coordinated fashion, to bring down inflation, stabilize foreign exchange rates, and create a truly enabling environment for business and investment. The Nigeria that President Tinubu seeks to build is one where no one is left behind.”

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C’River’s community revives barter market

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Image: Barter trade

Akpabuyo Local Government Area in Cross River State has reopened its centuries-old barter market, a unique trade hub in West Africa, as part of activities marking the council’s 34th anniversary.

The celebration, held at the council headquarters, brought together residents, traditional leaders, and political figures who hailed the return of peace to the area.

They described it as the foundation for Akpabuyo’s renewed economic prospects.

Former Peoples Democratic Party’s (PDP) Deputy Governorship candidate, Dr. Emana Duke Ambrose-Amawhe, said the reopening of the barter market was a landmark development, crediting Governor Senator Prince Bassey Otu for restoring stability in the community.

Since His Excellency came into power, he put all measures in place to ensure calm and peace.

Today, people can sleep in their houses with their eyes closed, and that is why you see this turnout from far and near,” she said.

Dr. Ambrose-Amawhe highlighted Akpabuyo’s natural maritime position, bordered by rivers, Bakassi, and the Atlantic Ocean.

He emphasised that the government investment in dredging, deep-sea port projects, and marine preservation will reinforce its role in trade and agriculture.

“With the pace of growth, Akpabuyo will contribute even more to the economic advancement of Cross River State and Nigeria. More jobs will mean more stability for our people,” she added.

Council Chairman, Hon. Effiom Bassey Effiong, said hosting the first official anniversary of Akpabuyo’s creation was a privilege, noting that the event was made possible by improved security.

“The place is calm and safe. We have Marine Police, the Navy, the Army, the Airforce, and our local vigilantes. Investors from China and other countries are already showing interest; some have even acquired land to build a university and industries,” he said.

Hon. Effiong also revealed plans to remodel the barter market into a world-class commercial hub to attract more investors and cross-border traders from Cameroon and beyond.

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INTERPOL arrests 1,209 cybercriminals, recovers $97.4m

Nigeria was one of 18 African countries, alongside the United Kingdom, that took part in the operations.

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The International Criminal Police Organisation (INTERPOL)’s enforcement agencies across Africa arrested 1,209 major cybercriminals and recovered USD 97.4 million.

INTERPOL Secretary General Valdecy Urquiza, gave the statistics during the 27th INTERPOL African Regional Conference in Cape Town, South Africa.

He explained that the operation, code-named Serengeti 2.0 and coordinated by INTERPOL between June and August 2025, targeted high-impact cybercrimes including ransomware, business email compromise (BEC), and online investment scams. “

The report said that Nigeria was one of 18 African countries, alongside the United Kingdom, that took part in the operation.

The wider African operation dismantled 11,432 malicious infrastructures, ranging from command-and-control servers to fraudulent domains.

In Angola authorities shut down 25 illegal cryptocurrency mining centres operated by 60 Chinese nationals who were unlawfully validating blockchain transactions to generate digital currency.

The crackdown also led to the seizure of 45 unauthorised power stations and mining equipment valued at over USD 37 million.”

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Nigerian Passport Now N100,000, N200,000 from Sept 1

Applicants abroad will continue to pay $150 for a 32-page, five-year passport and $230 for a 64-page, ten-year passport.

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The Nigeria Immigration Service (NIS) announced that the fee for a 32-page passport with five-year validity will rise to N100,000, while a 64-page passport with ten-year validity will cost N200,00.

The new rates take effect from September 1, 2025.

NIS, in a a statement posted on its X handle yesterday, by the Service Public Relations Officer, Akinsola Akinlabi, said that the adjustment is aimed at sustaining the quality and integrity of the Nigerian passport while ensuring efficient service delivery

The revised charges apply only to passport applications processed within Nigeria.

Before now, the 32-page Passport with five-year validity cost N50,000 after it was increased from N35,000.

Also, the 64-page passport with a 10-year, was N100,000 after being initially increased from N70, 000.

However, passport application fees for Nigerians in the diaspora remain unchanged.

Applicants abroad will continue to pay $150 for a 32-page, five-year passport and $230 for a 64-page, ten-year passport.

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