The Central Bank of Nigeria (CBN) has expressed serious opposition to a suit before the Federal High Court in Lagos seeking to remove the Arabic inscriptions on naira notes.
While telling the Federal High Court that it would cost a huge amount of money to discard the existing notes and print new ones without it; the apex bank said the Arabic inscription is not a symbol or mark of Islam, but an inscription to help non-English speakers or uneducated populace who are literate in it to ease trade.
It can be recalled that a Lagos-based lawyer, Chief Malcolm Omirhobo, who filed the suit before Justice Mohammed Liman, contended that having Arabic inscriptions on the naira notes portrays Nigeria as an Islamic state, contrary to the country’s constitutional status of a secular state.
Omirhobo, who said he does not know what the Arabic inscriptions mean, is seeking the court to order the CBN to replace the Arabic inscriptions with either English language, which is the country’s official language, or any of Nigeria’s three main indigenous languages – Hausa, Yoruba, or Igbo.
The lawyer said that with the Arabic inscriptions on the naira note, the CBN violates sections 10 and 55 of the Nigerian Constitution, which makes the country a secular state and wants the court to restrain the CBN from further approving, printing, and issuing naira notes with Arabic inscriptions, bearing in mind that Nigeria is a secular state.
In the counter-affidavit by the CBN, deposed to by one Abiola Lawal, the CBN maintained that contrary to Omirhobo’s claim “the Ajami inscriptions on some of the country’s currencies do not connote any religious statements or Arabian alignment.”
The CBN also tackled the lawyer on the claim that the Arabic inscriptions were a threat to Nigeria’s secular status.
The apex bank said, “The inscriptions on the country’s currencies do not and at no time have they threatened the secular statehood of the nation nor have they violated the Constitution of Nigeria, as every design and inscription was finalized with the approval of the relevant government bodies.’’
The CBN explained that the “Ajami inscriptions” on the naira notes dated back to the colonial era and they do not imply that Arabic is an official language of Nigeria.
“The Ajami was inscribed on the country’s currency by the colonialists to aid those without Western education in certain parts of the country, who, back then, constituted a larger part of the populace. The Ajami is not a symbol or mark of Islam but an inscription to aid the populace uneducated in Western education in ease of trade.”
Just-in: President Buhari sends Finance Bill 2020 to Reps
2020 Finance Bill has been sent to the House of Representatives by President Buhari, for consideration and passage.
President Muhammadu Buhari has sent the 2020 Finance Bill to the House of Representatives for consideration and passage.
This was disclosed by the Speaker, Femi Gbajabiamila, when he was reading out Buhari’s letter at the opening of Tuesday’s plenary.
The bill proposes various amendments to existing tax laws and financial regulations in response to the negative impact of the COVID-19 pandemic on the economy and the current recession.
— House of Reps NGR (@HouseNGR) December 1, 2020
Details later …
Create enabling environment to boost investment in critical sectors – Ultimus Holding
Investment in critical sectors of the economy would not only create jobs for the youths but also help to improve economic prosperity.
Ultimus Holding, a Pan-African investment firm, has urged the Federal, State Governments to create an enabling environment to attract more investments across the critical sectors of the Nigerian economy.
Chief Executive Officer, Ultimus Holding, Dr. Ifeanyi Odii, explained to Nairametrics that investment in critical sectors of the economy would not only create jobs for the youths but also help to improve the economic prosperity of Nigeria and the continent as a whole.
He called on the government in different economies within the continent to continue to support the expansion plans of private sector by creating an enabling environment for businesses to thrive.
He said, “We are quite confident that Africa holds great potential for economic growth and as such would continue to play a leading role in harnessing the opportunities that could make the continent an economic superpower.
“We are quite optimistic about Nigerian economy given the abundance of available opportunities. As a business, we would continue to explore different areas in the rapidly evolving growing economies, not only to make a statement as a brand, but to contribute to further expansion. Moving forward, we would be making massive investments in sub-Saharan Africa that are targeted at addressing the peculiar needs of the African market.”
He further noted that the company is strategically seeking opportunities for new businesses in strategic sectors, which would guarantee huge returns on investment while also acquiring businesses that visibly deliver solid value for its esteemed customers.
“Currently, Africa remains a strategic market for our business. We cannot afford to relax because we are aware of the impact significant investments would have on business growth and socio-economic development in Africa as a whole. We believe investment in critical sectors of the economy would not only create jobs for the youths but also help to improve the economic prosperity of the continent as a whole,” he added.
On its investments in the healthcare sector (Viarmor Healthcare), Vice President, Ultimus Holdings, Mr. David Ewemie explained that its fully integrated medical support company has signed a strategic partnership with renowned global brands to give it an innovative edge “in our quest to making lives better by providing innovative medical equipment and efficient healthcare services for everyone. Some of our devices – include: Air purifiers & Emergency mobile ventilators.”
Ministry of Youth and Sports, ITF sign MOU to facilitate training of 23,000 youths
Ministry of Sports and ITF have signed an MOU to train 23,000 youth from each State and FCT in 21 different vocational skills.
The Ministry of Youth and Sports Development and the Industrial Training Fund (ITF) have signed an MoU for skills training and empowerment of Nigerian youths in the 36 States and the FCT.
According to the tweet by the Minister of Youth and Sports Development, Sunday Dare, the youths will be trained in 21 different vocational skill areas.
Yesterday in Jos, Plateau State, the DG, ITF and myself signed an MOU to train 23,000 youth-600 youth from each State and FCT. Training will be in 21 different vocational skills areas under the Youth Skills and Enterprenuership Program, Y-SEP. Thanks ITF for this partnership pic.twitter.com/ybaoRCpndR
— Sunday Dare (@SundayDareSD) December 1, 2020
This agreement, however, is a follow up to a request for collaboration from the Federal Ministry of Youth and Sports Development and the ITF to organize a Youth Skills Development and Entrepreneurship Programme (YOSDEP).
According to the press release, the 23,310 trainees in the 36 States of the Federation and the FCT will receive core training across key trade areas like Agro-Allied, Catering (Hospitality), Autonomics, Welding, Masonry, Carpentry, Plumbing, Tiling/POP, Painting, Electrical Installation, Information and Communication Technology, Facilities Management Technology, and Electrical/Electronics Technology PLC among others.
Speaking shortly after signing the MoU at the ITF headquarter in Jos, the Minister, Federal Ministry of Youth Sports Development, Mr. Sunday Dare commended President Muhammadu Buhari for his commitment to youth development in the country.
He pointed out that Nigeria has the pool of resources to upskill the youths in the country and this is expected to provide them with all that is needed to be productive in order to strengthen the resilience of the economy.
What they are saying
The Minister of Youth and Sports Development, Sunday Dare, said: “This MOU will facilitate the training of 23,000 youths, 600 youth from each state and the FCT. The training will be in 21 different vocational skills areas under the Youth Skills and Entrepreneurship Program, Y-SEP. Thanks to ITF for this partnership.”
The Director-General of the Industrial Training Fund, Sir Joseph Ari said:
“The implementation of this programme will be for the duration of three months, 30 trainees per trade and 23,310 trainees in the 36 states of the federation and the FCT. We will be adopting both Digital, Green and Brown field approach in the implementation to ensure that the trainees are exposed to new trends in technology, and that they have practical hands-on approach which is necessary for impactful Skills Acquisition.”