TRAGEDY AVERTED AS 120-YEAR-OLD ANCESTRAL TREE FALLS AT OBOSI MARKET. (PHOTO).#PRESS RELEASE.

-
Image
 Tragedy Averted as 120-Year-Old Ancestral Tree Falls at Obosi Market By Chiedu Okoye A major tragedy was averted at Eke Obosi Market in Idemili North Local Government Area of Anambra State after a 120-year-old ancestral tree collapsed, destroying shops and goods but leaving traders and visitors unharmed. The massive tree, estimated to be about 150 feet tall, fell within the market premises, damaging at least 12 shops and valuable merchandise. Residents and traders described the incident as miraculous, noting that no lives were lost despite the extent of the destruction. The fallen tree held significant cultural importance as a sacred symbol of Eke Obosi Market, which is regarded as a stronghold of the traditions and cultural heritage of the Obosi people. Beyond serving as a centre for commercial activities, the market is also known as a venue for communal traditional rites and ceremonies. Eke Obosi Market was recently rebuilt and modernised by renowned businessman, politician and ...
Post a Comment

REPS URGE CBN TO TACKLE ONGOING CASH SCARCITY. (PHOTO).

-


 Reps Urge CBN to Tackle Ongoing Cash Scarcity


The House of Representatives has raised concerns over the persistent cash scarcity in commercial banks across Nigeria, calling on the Central Bank of Nigeria (CBN) to resolve the issue that has caused significant hardship for Nigerians.


In a motion presented by Uguru Emmanuel under Matters of Urgent Public Importance, the House highlighted the severe economic and social consequences of the cash shortage, which has left many citizens unable to access funds for essential needs.


Emmanuel emphasized that consumer spending and business investment are vital for economic growth, but the ongoing cash shortage is hindering these activities. He recalled the CBN’s December 21, 2022 policy that set cash withdrawal limits of N500,000 for individuals and N5 million for corporate entities. However, he noted that commercial banks have largely ignored this policy, with some limiting withdrawals to as low as N10,000 or even none at all.


The lawmaker also pointed out the struggles faced by individuals and entrepreneurs, especially in rural areas, who depend on cash for transactions but lack access to digital payment options. He raised concerns about the link between commercial banks and Point of Sale (POS) operators, who appear to have unrestricted access to cash, often selling it at inflated prices.


Emmanuel warned that unless the CBN takes swift action, the situation could worsen, particularly with the upcoming festive season, deepening economic hardship for businesses and citizens alike.


In response, the House resolved to mandate the Committee on Banking Regulations to investigate the cash shortage in commercial banks and report its findings within one week. The CBN was also urged to address the scarcity or clarify if it is not the source of the problem.

Comments

Post a Comment

Popular posts from this blog

SHAKIRA COVERS WOMEN'S HEALTH MAGAZINE,APRIL ISSUE.

-
Image
             Gerard Pique,welcomed their first child into the world last year January.Shakira told the magazine that ''I think it takes two to keep it passionate in relationships,a lot of laughter and a lot of fun moments together,that's essential but also affinity,you know.You have to be compatible.I'm really happy where i am right now,with the person that i'm with right now.He seems to want the same things i want,and that's very important''.More pictures below.                                                                                                                    
Read more

THE NEW OONI OF ILE-IFE,WILL NOT EAT THE HEART OF THE LATE OONI-PALACE CHIEFS.

-
Image
                           According to the Araba of Osogboland Chief Yemi Elebuibon,debunk the rumors that the new Ooni will eat the heart of the late Ooni of Ife as custom demands,so he cleared the air when he recently said that ''The heart of the late king would not be fed to the next Ooni.The eating of the heart of a departed King by an incoming one belonged to the past.It no longer exists.People still make this insinuation because many are barred from witnessing the burial of a king.What the incoming king will eat is the heart of an animal and not that of a human.Nobody will be buried with the Ooni.Nobody would be killed for any form o sacrifice''.Thank God he clarified the part that no one will be buried with the Ooni,because the rumors going round is that the Sarun,otherwise known as Abobakun,is on the run,to escape being buried with the late Ooni of Ife.Lowa Adimula of Ife,Oba Joseph Ijaodola,who is the Head o...
Read more

INNOSON GIVES OUT BRAND NEW IVM G5 AND SALARY FOR LIFE TO THE MAN WHO PROPHESIED ABOUT HIS VEHICLE MANUFACTURING IN 1979.(PHOTO).

-
Image
Innoson Gives Out Brand New IVM G5 and Salary For Life To The Man Who Prophesied About His Vehicle Manufacturing In 1979.  Last Saturday, July 22nd the Chairman of Innoson Vehicle Manufacturing Company Ltd, Chief Dr Innocent Ifediaso Chukwuma OFR gave out a brand new Innoson IVM G5 to Mr Ikechukwu Osakwe popularly known as Osabros who prophesied to him in 1979 that he would be the first man in Africa to manufacture vehicles and sell to different African countries.  The prophecy was given at the period the then Innocent Chukwuma could not boast of a car, talk less of manufacturing one. According to Dr Chukwuma during the presentation of the car, he recalled on how Mr Ikechukwu Osakwe all the way from Kano blocked him at the front of his house early in the morning and told him he has a message for him.  Mr Osakwe went on to narrate a dream he had about him, how he saw in the said dream his vehicle manufacturing company known as CAP PLC. "He told me that CAP means Chukwuma ...
Read more