Metro

Hoisting foreign flags in Nigeria treasonable— Army

Published

2 months ago

August 6, 2024

The Nigerian Army has vowed to deal ruthlessly with anyone who hoists foreign flags in the country in the ongoing #EndBadGovernance protests in the wake of some protesters waving Russian flags in some parts of the country during the demonstrations.

The Chief of Defence Staff, (CDS), Gen. Christopher Musa, who made the vow after a National Security Council meeting convened by President Bola Tinubu where issues of security threats to the country were discussed, said the meeting looked into the new trend of protesters hoisting the Russian flag in some states in the Northern regions of the country.

Some of the protesters especially in Kano, Kaduna, Zamfara and Plateau States, were seen waving and hoisting the Russian flags during the protests, with the Chief of Defence Staff saying those behind such a grievous offence would face the wrath of the law.

Briefing State House correspondents at the end of the security meeting held at President’s office at the State House, Abuja, Musa said hoisting of foreign flags in Nigeria was a treasonable offence and perpetrators will be treated as traitors.

“We went to brief Mr President on the situation on ground and we know that since the riot or protest started, all the security agencies are together,” the CDS said.

“Initially, when the riot started, they said it was a peaceful riot but we have realised that there are individuals that are willing to take advantage of it to cause mayhem.

“And we can see clearly what has happened since it has commenced. Criminals have taken over, a lot of looting taking place, stealing and all sorts of things are happening.

“And besides, all of us have seen it where foreign flags have been flown within the sovereignty of Nigeria, and that is totally unacceptable.

“We are warning in clear terms and the President has also said we should convey this, that we will not accept anybody, any individual flying any foreign flag in Nigeria.

“That is treasonable offense, and it will be viewed and treated as such. So nobody shall allow himself to be used by any individual.

“For those of them flying flags and if you’ll see a lot of them are kids being pushed to do that, we’re following up with those sponsoring them.

“Those who are pushing them because you know, flags were also made. We have identified those areas and we are going to take serious action against that.

“The President is clear on his instructions for us not to accept anyone that wants to disrupt the peace and tranquility of Nigeria.

“And we are all standing here together to show Nigerians that we’re working closely, we are working together with synergy to ensure that there’s still peace and tranquility in Nigeria, that we have assured Mr. President,” the CDS added.

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Metro

Zambia launches World Bank’s $63.9m programme to boost climate action in Eastern Province

Published

6 hours ago

September 20, 2024

Isaac Dachen

The Zambian government, in conjunction with the World Bank, has launcher a $63.9 million programme aimed at boosting climate action in the country’s Eastern Province.

Known as the “Eastern Province Jurisdictional Sustainable Landscape Programme,” the programme is looking at improving livelihoods and reducing emissions from forestry and land use sectors, according to Green Economy and Environment Minister, Mike Mposha.

Mposha who launched the programme in Lusaka on Wednesday at the Mulungushi International Conference Centre, said it was a follow-up to the Zambia Integrated Forest Landscape Project which was concluded on February 29, 2024.

Mposha noted that the programme introduced results-oriented climate financing, focusing on carbon trading, benefit sharing and climate change mitigation in Eastern Province.

Giving a break down on how the funds would be expended, the minister said:

“Of the total funding, $50 million will be allocated to purchasing verified emission reductions, while $13.9 million will support investments in sustainable forest management, climate-smart agriculture, and wildlife management in the province,” Mposha said.

He added that the verified emission reductions would be traded as certified carbon credits through the biocarbon fund initiative for sustainable forest landscapes and other international carbon buyers, while the generated monetary benefits would be transparently distributed to local communities to encourage better management of natural resources.

The programme will run from 2024 to 2030 and is expected to generate 29 million tons of carbon dioxide equivalent in verified emission reductions.

He noted that the carbon credits will be traded on international markets, with revenue distributed among rural communities in all 57 chiefdoms, private carbon developers, and government institutions in Eastern Province.

The revenue distribution would follow a benefit-sharing plan: 15 percent to the government, 30 percent to private carbon project developers, and 55 percent to communities.

World Bank Country Manager, Dr Achim Fock, who also attended the launching, stated that the programme would scale up sustainable agriculture and forest activities, improving agricultural yields, incomes and community resilience against climate change impacts.

He also noted its potential to reduce greenhouse gas emissions while delivering co-benefits such as biodiversity conservation.

Metro

Nigerian economy now on the right path, Minister Edun boasts

Published

13 hours ago

September 20, 2024

Isaac Dachen

The Nigerian government says it is confident that reforms undertaken by President Bola Tinubu since assuming office in 2023 are beginning to yield positive fruits as the economy is now on the right path.

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who made the assertion on Thursday while speaking at the Access Bank Annual Corporate Forum 2024 in Lagos, said the government no longer depended on the Central Bank of Nigeria (CBN) to fund its emerging obligations, attributing the feat to fruits yielded by ongoing efforts to improve efficiency and ramp up revenues.

The minister said the government had also put a stop to the use of Ways and Means advances for meeting emerging financing obligations, a practice that had been rampant in the past, which was often the last resort to finance the government during periods of budget shortfalls.

According to Edun, “concerted fiscal measures being implemented by the government have recorded a 100 per cent increase in revenues, particularly the domestic components, which underlined improving efficiency due to the application of technology to government management.’

Edun stated that President Tinubu has fully supported the efforts of the financial management team to put in place a world-class management system that ensures that the country’s finances are managed in efficient ways.

“We have relative currency stability and we’ve seen a gradual elimination of multiple exchange rates. We also have foreign exchange liquidity,” Edun said.

“The gross reserves are up. There has been a net inflow in the first seven months of this year of about $2.35 billion every month.

“On the fiscal side as well, government revenues are growing and the key to government revenue is not so much that government has revenue to compete with the private sector,” he added.

He noted that the government was working to plug all loopholes and optimise Nigeria’s financial potential by ensuring that the country’s sovereign assets are fully harnessed for growth and development.

Edun pointed out that as part of the gains of the government’s macroeconomic reforms, the country now records a monthly net inflow of about $2.35 billion into its foreign exchange (forex) reserves in the past seven months.

According to him, the increase in foreign reserves has contributed significantly to the stability of the naira in the forex market.