Top Nigerian Newspaper Headlines For Today, Tuesday, 12th December, 2023

Good morning Nigeria, welcome to the Naija News roundup of top newspaper headlines in Nigeria for today, Tuesday, 12th December 2023.

1. I Won’t Be Satisfied Until Insecurity Ends – Tinubu

On Monday, President Bola Tinubu expressed that his satisfaction would not be achieved until the issue of insecurity is completely eradicated in the country.

He conveyed his condolences to the families of Nigerians who lost their lives in the recent Tudun Biri bombing in Kaduna State. Tinubu acknowledged that many victims tragically perished while reciting the Shadada during the Maulud observance, a crucial statement of faith for practising Muslims.

Speaking at the palace of the Shehu of Borno, Abubakar El-Kanemi, in Maiduguri, Tinubu assured that his administration would persist in addressing the challenges faced by survivors affected by insecurity in the North East.

The mistargeted bombing of Tudun Biri in the Igabi Local Government Area of Kaduna State by the Nigerian Army on December 3 elicited widespread outrage, resulting in the tragic loss of at least 120 lives among the local population.

Residents in the affected communities were reportedly celebrating Maulud, an Islamic event, when the military deployed bombs, drawing both local and international condemnation.

2. 27 Rivers Lawmakers Defect From PDP To APC

Twenty-seven lawmakers from the Rivers State House of Assembly, under the leadership of Martin Amaewhule, alleged loyalists of FCT Minister, Nyesom Wike, have officially switched their allegiance from the Peoples Democratic Party (PDP) to the All Progressive Congress (APC).

The lawmakers who instigated the impeachment proceedings against Governor Siminalayi Fubara, have cited internal divisions within the PDP as the primary motive behind their decision to defect to the APC.

Furthermore, the Rivers State legislators on Monday, December 11, collectively passed a resolution denouncing the withholding of funds allocated for the management of the House of Assembly, according to AIT.

During their session on Monday, the Rivers State House of Assembly also approved the Local Government (Amendment) Bill 2023 for Second Reading, alongside various other legislative tasks, Naija News understands.

3. CBN Debunks Reports Suggesting Some Banks Failed To Meet Capital Adequacy Ratio Test

The Central Bank of Nigeria (CBN) has debunked reports suggesting that some Nigerian banks failed to meet the capital adequacy ratio.

Naija News recalls that an earlier media report had suggested that about 8 banks with international authorisation have a capital adequacy ratio below the regulatory threshold.

The bank’s asset quality, as indicated by the ratio of non-performing loans, decreased slightly by 0.4 percentage points to 4.1 percent in the second quarter of 2023 from 4.5 percent in the previous quarter, reflecting a sustained improvement in loan recoveries by banks, according to a report attributed to the apex bank’s second economic quarter report on the financial soundness indicator.

The report detailed that the ratio fell short of the prudential target, which stands at 5%. During the review quarter, the industry liquidity ratio increased significantly by 10.9 percentage points to 62.2%, up from 51.4% in the previous quarter.

However responding to the report in a statement on Monday, the apex bank debunked the story.

4. We’ll Ensure 20 Million Out Of School Nigerian Children Return To School In Four Years – FG Vows

Twenty million Nigerian children who are not currently in school are expected to return within the next four years, according to the Ministry of Education.

Naija News reports that Education Minister, Prof. Tahir Mamman, said this on Monday at the 2024 budget defence hearing in front of the National Assembly on Education’s joint committee in Abuja.

According to him, millions of children in Nigeria are not attending school, which is a significant issue for the nation.

To guarantee that pupils acquire the necessary skills, the minister stated that the ministry had consulted with relevant parties to reform Nigeria’s educational curriculum.

He urged academic institutions to incorporate business and skill development into their courses in order to produce graduates who can support themselves.

5. Naira Scarcity: CBN Suspends Charges On Cash Deposits

The Central Bank of Nigeria (CBN) has issued a fresh directive to banks regarding charges earlier imposed on cash deposits by the former Central Bank of Nigeria governor, Godwin Emefiele.

In the memo issued to banks and other financial institutions and seen by Naija News on Monday, the apex bank directed all banks to immediately stop the collection of charges on deposits above N500,000 for individuals and ₦3,000,000 for corporate organisations.

The statement by CBN read: “Please recall the processing charges imposed on cash deposits above N500,000 for individuals and ₦3,000,000 for Corporates as contained in the ‘Guide to Charges by Banks, Other Financial Institutions and Non-bank Financial Institutions’ issued on December 20, 2019 under reference FPR/DIR/GEN/CIR/07/042.

“The Central bank of Nigeria hereby suspends the charging of processing fee of 2% and 3% previously charged on all cash deposits above these thresholds with immediate effect. This suspension shall remain in effect until April 30, 2024.

“Consequently, all financial institutions regulated by the CBN should accept all cash deposit from the public without any charges going forward.”

6. Conduct Fresh Elections For 27 Rivers Constituencies – PDP To INEC

The Peoples Democratic Party (PDP) has called on the Independent National Electoral Commission (INEC) to initiate the immediate process of conducting fresh elections for the 27 state constituencies in Rivers State.

This demand came as a response to the perceived vacancy resulting from the voluntary departure of “27 former (Rivers) state lawmakers,” who defected to the All Progressives Congress (APC).

The PDP asserted that these lawmakers’ decision to abandon their seats necessitates the prompt organization of new elections to fill the vacant positions.

In a statement released on Monday in Abuja, the National Publicity Secretary of the PDP, Hon. Debo Ologunagba, said, “The PDP asserts that by defecting from the PDP, the political Party platform on which they were elected into the Rivers State House of Assembly, the seats of the respective 27 former lawmakers have become vacant by virtue of the provision of Section 109 (1) (g) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).”

7. ‘Very Soon, We Will All Become One Family’ – Akpabio Hints At PDP Governor, 2 Senators Who May Join APC

The Senate President, Godswill Akpabio, has hinted that some senators and governors in the Peoples Democratic Party (PDP) may dump the opposition party and join the ruling All Progressives Congress (APC).

Naija News reports that Akpabio jokingly made the disclosure during his remark at his birthday celebration organised for him at the Godswill Akpabio International Stadium, Uyo, the Akwa Ibom state capital.

According to the Senate President, very soon, the incumbent Akwa Ibom Governor, Umo Eno, Senator Aminu Tambuwal from Sokoto and Senator Natacha Akpoti-Uduaghan will all become prospective members of the APC family.

8. Wike Or Amaechi? Eze Reveals APC Leader In Rivers State

A chieftain of the All Progressives Congress (APC), Eze Chukwuemeka Eze has reacted to the issues surrounding the political leadership of the party in Rivers State.

Speaking during an interview with Punch, Eze was asked to respond to the question on who is the current leader of the APC in Rivers State between former Transport Minister, Rotimi Amaechi and the incumbent FCT Minister and immediate past governor of the state, Nyesom Wike.

In his response, Eze submitted that despite recent political happenings in which some people have pledged their loyalty to Wike as their leader, the Minister is not a member of the APC at all.

He added that Amaechi remains a member of the APC and remains the undisputed leader of APC in the South-South region.

The APC chieftain assured that Amaechi would soon address the public himself.

9. Your Budget Proposal Is Unrealistic, Fraudulent – APC Knocks Gov Makinde

The Oyo State chapter of the All Progressives Congress has said that the 2024 budget proposal of Governor Seyi Makinde is unrealistic and fraudulent.

The APC urged the State Legislators to avoid passing it into law without a thorough review.

Naija News recalls that Makinde, in a statement last Tuesday, presented a total sum of N434.2billion as the proposed budget of the state for 2024 before the State House of Assembly members.

Speaking via a statement on Monday by its Publicity Secretary, Olawale Sadare, APC insisted that the budget was a dubious presentation aimed at hoodwinking the state.

Sadare insisted that Makinde’s government has continuously shown that it lacks innovation, policy direction and accountability.

10. CBN’s Naira Redesign Rendered Farmers Bankrupt – FG Reveals

The Federal Government disclosed on Monday that the Central Bank of Nigeria’s decision to redesign the naira left farmers financially devastated.

This unfortunate situation persisted until the Supreme Court ruled against the policy.

During a budget defence session before the National Assembly Joint Committee on Agriculture, the Minister of Agriculture and Food Security, Senator Abubakar Kyari, highlighted the dire consequences of both the contentious naira redesign and the widespread hunger stemming from insecurity.

Federal lawmakers also voiced their concern, emphasizing that the prevailing hunger and famine were leading to the tragic deaths of impoverished individuals in rural areas.

The minister attributed the financial hardships faced by farmers and the significant threat to food security to various factors, including insecurity and the controversial naira redesign policy implemented approximately a year ago.

That’s the top Nigerian newspaper headlines for today. Read more Nigerian news on Naija News. See you again tomorrow.