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As part of ongoing efforts to clear restricted areas of commercial motorcycle (okada) operations, the Federal Capital Territory Administration (FCTA) has conducted a joint enforcement raid in Abuja’s city center and locations like the Kubwa Expressway axis.

The task force, comprising the FCT Directorate of Road Traffic Services (DRTS), police, military and paramilitary agencies, took to the streets to apprehend okada riders violating traffic rules and causing disturbances in the territory.

Some of the targeted areas included Garki Areas 1 and 3, Guzape, Durumi 1, 2 and 3, Mpape Junction, Asokoro, and the Kubwa axis, where motorcycles were confiscated.DRTS Head of Operation, Deborah Osho, described the exercise as a routine activity that will continue as long as okada men persist in flouting traffic regulations by operating in prohibited zones.

She stated that the enforcement team will keep seizing motorcycles until the court authorizes their destruction.”We were able to clear the city center and expressway of the okada menace and their activities, which include causing traffic congestion and other offenses that violate traffic rules,” Osho said.

The Secretary of the FCT Command and Control Centre of the Security Services Department, Dr. Peter Olumuji, noted a significant reduction in crime rates associated with commercial motorcycle use. 

He emphasized that the FCT Commissioner of Police, CP Benneth Igweh, has reiterated the areas where okada men are prohibited from operating.Olumuji stated that the Minister of FCT, Nyesom Wike, is committed to ensuring the safety and security of FCT residents. 

He described the operation as a sustained effort to improve security in the FCT, surpassing past conditions.The joint operation involved various security agencies, including the Nigerian Police, Civil Defence, Department of State Services (DSS), National Drug Law Enforcement Agency (NDLEA), Immigration Services, and Correctional Services.

President Bola Tinubu has approved the appointment of ACM Shehu Mohammed as the Corp Marshal and Chief Executive Officer of the Federal Road Safety Commission (FRSC).

This was contained in a letter of appointment signed by the Secretary to the Government of the Federation (SGF), George Akume dated May 20th, 2024.

The letter said the appointment is in accordance with Section 7 (1) of the Federal Road Safety Commission Act, 2007 and takes effect from May 20th, 2024.

Shehu Mohammed takes over from Dauda Ali Biu as Corps Marshal, FRSC.

Details shortly…

The Transmission Company of Nigeria, TCN, has reassured the North East Governors Forum, NEGF, that power restoration in the region will proceed as planned on May 27.

The Transmission Company said it is taking all necessary steps to restore power supply as stated in its press release dated May 10, 2024.

Ndidi Mbah, General Manager, Public Affairs gave the assurance in a press statement made available to Journalists in Bauchi on Tuesday.

In the statement titled: ‘Re: North East Governors on Power Blackout, and May 27 Timeline for Power Restoration’, the TCN expressed understanding of the governors’ concerns for their citizens and the impact of the blackouts on governance and business operations. “We are not happy about the situation,” it stated.

This is as the TCN assured that its team is working tirelessly to rebuild the four towers destroyed by vandals adding that it will not rest until power is restored to all affected areas.

“We appeal for a little more patience, as work is truly advancing. We are pushing our contractors very hard to ensure we deliver on our promise of rebuilding the towers and energizing the transmission line.”

“Despite the recent increase in vandalism, we have continued to rebuild towers each time they are damaged and have consistently restored supply.”

“The four vandalized towers on the Gombe axis are no exception. Despite our prevailing poor liquidity, we have mobilized all necessary resources to ensure this job gets the attention it requires.”

“To expedite the work, we have insisted that the contractor put in place and on-site machines that will help increase the fabrication processes of tower members which is ongoing.”

The statement further stated that, “A visit to the site will show that the towers are nearing completion, with one tower at 90% completion, another at 80%, a third at 60%, and the fourth at 40%.”

“We are utilizing all available daylight hours for the work. However, due to security issues, we are unable to work through the night, which we would have gladly done.”

“Nevertheless, we are optimistic about completing the reconstruction and energizing the line within the given time frame. We expect power supply to be restored by May 27, 2024, through the new 330kV transmission line, allowing Yola and Jos DisCos to offtake and distribute optimally from the TCN substation,” he added.

Recall that last weekend, at the conclusion of its regular meeting, the North East Governors Forum (NEGF) expressed displeasure over the continuous blackout in the subregion.

The forum berated the TCN over what it describes as ‘nonchalant attitude’ in addressing the situation.

The Central Bank of Nigeria (CBN) has raised the interest rate by 150 basis points from 24.75 per cent to 26. 25 per cent. 

Following a two-day meeting, the bank’s Monetary Policy Committee (MPC) agreed to increase the Monetary Policy Rate(MPR) for the third straight time to rein in the country’s soaring inflation levels pegged at 33.69% in April 2024.

“The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 295th meeting on the 20th and 21st of May 2024 to review recent economic and financial developments and assess risks to the outlook,” the CBN Governor Yemi Cardoso who is also the MPC chairman said on Tuesday.

“Decisions of the MPC. The committee’s decisions are as follows: 1. Raise the MPR by 150 basis points to 26. 25 per cent from 24.75 per cent.”

Cardoso, however, said the Cash Reserve Ratio (CRR) of Deposit Money Banks (DMBS) was retained at 45 per cent. The MPC also put the Asymmetric Corridor around the MPR at +100 and –300 basis points. It retained the liquidity ratio at 30 per cent.

The CBN chief who admitted the rising inflation levels in the country said the key focus of the MPC meeting was to achieve price stability by using tools available to rein in inflation.

He said the inflation pressure is being driven largely by food inflation, citing rising costs of transportation, infrastructure challenges, insecurity, and exchange rate issues as some of the factors affecting it.

Monday’s announcement comes amid soaring prices of commodities and a rising cost of living.

Pushed majorly by the removal of fuel subsidy last year and the floating of the naira, Nigerians are battling historic high inflation levels.

Despite protests and pressures from labour unions, President Bola Tinubu has repeatedly called for patience, expressing optimism that his government’s reforms will yield fruit.

In a bid to combat the falling value of the naira, the CBN in recent months targeted the operations of cryptocurrency exchange Binance. That and other measures led to an appreciation of the currency. But the gains appear to have stalled in recent weeks.