Author: The Nation

The naira came under intense pressure last week after the Central Bank of Nigeria (CBN) unified multiple exchange rates into the Investors’ & Exporters’ (I&E) window. The two-day market volatility ended on Friday with the local currency recording its first closing gain at the window. Improved confidence has energised investors to pump dollars into the market, with the new operational changes to the foreign exchange market expected to encourage people to channel their forex to the official market and open up Nigeria’s investment climate to domestic and global investors. Assistant Business Editor, COLLINS NWEZE, reports

Before last Wednesday, not too many people knew or bothered about what the Investors’ and Exporters’ (I&E) window represents or how its operations affect their businesses and economy. They had several other permissible forex windows where transactions were carried out and forex needs met. But that changed after the Central Bank of Nigeria (CBN) collapsed all the multiple exchange rates into the I&E window, which allows forex buyers and sellers to mutually agree on rate of transaction.

That move ensured that the International Air Transport Association (IATA) rate, Interbank Exchange Rate, Bureaux De Change (BDC) rate, among others, were unified into the I&E window in line with CBN’s rate harmonisation policy. The impact of the policy shift is already reverberating across markets with domestic and international stakeholders giving their assessment. Already, three incidents happened at the forex market last week. The I&E window, which saw the naira depreciate for two straight days – Wednesday and Thursday – achieved  its maiden closing gain of N39/$1 on Friday. The naira appreciated from N702/$1 to N663/$1, according to rate movement chart monitored from the FMDQ Exchange.

The window also saw uptick in transactions volume from $70.74 million on Thursday to $311.83 million on Friday. The 340.81 per cent surge in forex transaction volume was a huge liquidity boost for the market. Finally, the International Monetary Fund (IMF) gave its backing to government’s decision to abolish multiple exchange rate regime, and the collapse of all rates into the I&E window. The Fund said it stands by and supports the implementation of the new operational changes to the forex market.

How it started

 President Bola Ahmed Tinubu had, during his inauguration, said the monetary policy needs thorough housecleaning and directed the CBN to work towards a unified exchange rate. Acting CBN Governor Folashodun Shonubi introduced some operational changes to the foreign exchange market in line with exchange rate unification plan. These moves excited the IMF, which gave its support to the government. IMF Resident Representative Nigeria, Ari Aisen, said: “The Fund greatly welcomes the authorities’ decision to introduce a unified market-reflective exchange rate regime in line with our long-standing recommendations. We stand ready to support the new administration in its implementation of FX reforms.”

Understanding I&E window operations

According to the CBN Operational Changes to the Foreign Exchange Market report, all eligible forex transactions in the market will, henceforth, be done only through the I&E window as all other windows ceased to exist. “The  I&E market functions by a willing buyer, willing seller system, where an entity with demand for forex seeks out another entity with forex to sell at an agreed price through an authorised dealer. In this model, rates are mutually agreed by both parties,” the apex bank said.

 Under the new rule, Personal Travel Allowance (PTA), Business Travel Allowance (BTA), and other invisible transactions will continue to be accessed through the banks at the prevailing market rate. The CBN added that there are no changes in the application process.  “All applications shall be through the banks and all documentation requirements remain the same. The weighted average rate is a summation of volume of forex traded multiplied by the various rates at which the deals are consummated, divided by total volume of trade,” it said.

 According to the CBN, government-related transactions are transactions with Ministries, Departments and Agencies (MDAs). Order-based two-way quotes are a two-way quote trading in which all transactions are trade backed. “The order book is an electronic trading system where demand can be matched to supply on any given trading day and is visible to the entire market. The status quo remains on the 43 non- eligible items. The items are not permitted to be funded from the I & E window,” the bank said. 

Views from stakeholders

  Analysts said the surge in transaction volume, rebound of the naira at the I&E Window and IMF’s backing were positive feedback that indicate what lies ahead of the market. In emailed report to investors, an economist and Managing Director, Financial Derivatives Company Limited, Bismarck Rewane, said the adoption of a single exchange rate and the “willing buyer-willing seller model” by the CBN is, no doubt, cheery news for the market. He said the new exchange rate framework is expected to increase transparency in the forex market, reduce exchange rate misalignment and transaction costs, and buoy investor confidence.

“However, exchange rate management goes beyond exchange rate unification. It must address issues surrounding market structure, easy access and adequate supply. This means effectively dismantling forex rationing, administrative controls, and reviewing import restrictions. As Barack Obama declared, ‘Africa doesn’t need strongmen, it needs strong institutions’,” Rewane said.

Speaking on the performance of the market, former Executive Director, Keystone Bank, Richard Obire, said Friday’s appreciation of the naira at the I&E window, the first since the discontinuation of the multiple exchange forex rates framework was announced, was a good sign. He said: “On Friday, forex trading volume at the I&E window grew by 340.81 per cent to $311.83 million from $70.74 million on Thursday, June 15, 2023. The significantly increased forex liquidity may have played a role in the 5.58 per cent appreciation of the naira against the dollar seen at the market on Friday.   

“If as we expect, going forward, forex liquidity or supply continues to increase with the discontinuation of the multiple exchange rates regime, then we should see a stable equilibrium exchange rate emerging in the near future. It is important that the monetary authorities stay the course and do not send any mixed messages to the market,” Obire stated while calling for continuous observation of the market trends going forward to determine the real impact of the policy on market developments.

 Nigeria Country Representative, European Organisation for Sustainable Development, Jide Akintunde, said observers would like to see how transparent the new foreign exchange market is and whether rates offered by the banks converge with parallel market rates. He said liquidity in the market and whether investor confidence is restored in the country – through significant improvement in foreign investment flows are also to be considered by investors. “In the short-to medium-term, the equilibrium price of the naira would be between the last I&E window rate and that of the parallel market before the policy was introduced. There is no exact science to determine that equilibrium. So, the rates we are seeing now fall within the bracket. But they are closer to the erstwhile parallel market rate than the I&E Window rate — indicating dollar supply shortfall exists in the market,” he stated.

 Chief Executive Officer of Economic Associates, Dr. Ayo Teriba, said that with the new forex policy, dealers do not need  CBN’s approval to buy forex because the market has been liberalised in terms of who can buy and sell. The unified exchange rate would also boost government revenue from the sale of forex at an attractive rate. He said aside saving money that the government is losing by giving access to forex to some people below market rate, it will also end forex subsidy regime that has created frivolous demand in the market. He added that with a single rate market, government will get more revenue, since all the forex at its disposal will be sold at the market rate.

 Teriba said: “The ‘privileged persons’ who access the cheap dollar and sell to the Bureau de Change operators will no longer see it attractive. The presence of the special rate for special people means that some of the special people who don’t need the forex will demand it just because of the profit they make from it.”

 Explaining further, he said: “People round trip because they are in the corridors of power and they can’t be denied access to forex. Now, if you eliminate that profit, it will lead to reduced demand for forex because they don’t need it. The reduced demand will strengthen the exchange rate. So, you are likely to get an exchange rate that is far from the Bureaux De Change rate and closer to what we are trying to fix.”

 Teriba explained that unifying the exchange rate will drag the parallel market rate down which would lead to a decline in inflationary pressure. He further said the policy would encourage people to channel their forex to the official market and open up Nigeria’s investment climate. He maintained that the policy is in the right direction because multiple exchange rates distort prices and becloud the investment climate. “You having a single exchange rate will send a clear signal because demand will fall, supply will increase and the naira will be strengthened,” he stated.

 Fiscal Policy Partner and Africa Tax Leader at PwC, Taiwo Oyedele, said that with the I&E window policy, government’s revenue would rise in naira terms resulting in a higher tax, revenue to Gross Domestic Product (GDP) ratio. It will also lead to possible reduction in budget deficit and some cost savings for government.

 “With the Nigerian naira now exchanging in the official forex market at market determined rates, a significant market distortion has been removed. Expectedly, impact on diaspora remittances would be marginal, the capital market will benefit as it is likely to appreciate further as foreign investors take position, there should be negligible impact on the general prices of goods and services as products already factored in parallel market rates to a large extent. Overall, this is a positive move,” he said.   

Continuing, he said  the government needs to manage the dynamics to restore confidence, adding that the backlog of forex demands needs to be addressed and government should be ready to supply forex to stabilise the exchange rate in the short term. Oyedele added: “Government also needs to relax capital control and administrative bottlenecks including unbanning the list of items prohibited for forex (and complement with higher import duties), remove the need for certificate of capital importation among others to prevent the parallel market rate from simply moving further away from the official market rate. Stop the demand for certain taxes and levies in foreign currency, it creates unnecessary forex demand without adding to supply.

 “The aggregate demand for forex across markets should reduce as round-tripping incentive is removed, for instance people who fake foreign travels just to get forex at discounted rates. Also, Nigeria’s sovereign credit rating should improve if this is complemented with the right fiscal and monetary policies thereby attracting more forex inflows and lowering the cost of borrowing,” he stated.

 CEO of Moniepoint, Tosin Eniolorunda, said the CBN’s decision to float the naira is a clear step in the right direction for our economy, ensuring investor confidence continues to grow. “The decision is good for business, jobs and growth. It will help Nigeria’s brilliant entrepreneurs to do business globally and attract foreign investment. It will also help reduce inflation, leaving more money in people’s pockets,” he said.

Policy implications for forex users

In announcing the policy shift, CBN Director, Financial Markets, Angela Sere-Ejembi,  said the operational changes to the foreign exchange market also include the re-introduction of the “Willing Buyer, Willing Seller” model at the I&E window. “Operations in this window shall be guided by the extant circular on the establishment of the window, dated 21 April 2017, and referenced FMD/DIR/CIR/GEN/08/007. All eligible transactions are permitted to access foreign exchange at this window,” she said.

According to the circular, all operational rate for all government-related transactions shall be the weighted average rate of the preceding day’s executed transactions at the I&E window, calculated to two decimal places. “Proscription of trading limits on oversold FX positions with permission to hedge short positions with OTC futures Limits on overbought positions shall be zero. Re-introduction of order-based two-way quotes, with bid-ask spread of N1. All transactions shall be cleared by a Central Counter Party (CCP). Reintroduction of Order Book to ensure transparency of orders and seamless execution of trades. The operational hours of trades shall be from 9am to 4pm, Nigeria time,” the circular said.

 In a report titled: The Parallel Exchange Rate Problem: The World Bank’s Approach to Helping People in Developing Countries, former World Bank President, David Malpass, said around 24 emerging and developing economies (EMDEs) have active parallel currency markets. “In at least 14 of them, the exchange rate premium – the difference between the official and the parallel rate – is a material problem, exceeding 10 per cent,” he said.

 He described parallel market exchange rates as expensive, highly distortionary for all market participants, are associated with higher inflation, impede private sector development and foreign investment, and lead to lower growth.  “They benefit the group that has access to foreign exchange at the subsidized rate, paid for by everyone else (which may include the World Bank Group and its stakeholders).  Hence, there is also a strong correlation, if not causation, between the existence of parallel rates and corruption,” Malpass said.

 “Parallel exchange rate markets can also significantly diminish the impact of World Bank projects. A primary problem is the lack of value-for-money when financing projects that have local currency expenses. When World Bank dollar-denominated loans are converted into local currency at the overvalued official rate, fewer local-currency resources are available than if the exchange had happened at the parallel market rate. This reduces the development impact of World Bank operations. For example, if the World Bank operation is financing cash transfers for the poor paid in local currency, this means fewer people will enjoy the benefit.,” he added.

 Continuing, Malpass said a second problem is that some of the proceeds from the World Bank loan (which are in dollars) can be diverted by governments to finance expenditures not related to the project and could lend themselves to corrupt practices. He said a related problem is that the government incurs higher foreign-currency debt to achieve a given level of local-currency spending on the project, making future debt service payments more burdensome and increasing the risk of debt distress.

 “On a larger scale, there is a risk that sizable World Bank financing that provides funding through the parallel market regime perpetuates it. We have taken a set of measures at the World Bank to discourage the subsidized rate, or at a minimum mitigate the impact of parallel exchange rates on our operations,” he said.

“This is to ensure that our financing benefits rather than harms people in developing countries. First, we do not provide budget support assistance to countries with sizeable and persistent foreign exchange rate premiums, unless the distortion is addressed through a program of exchange rate reforms in collaboration with the IMF.

 “Second, we try to ring-fence available resources and protect the value-for-money for our investment loans. This can be done by requiring that loan resources be used only to finance ‘foreign expenditures and the government should finance any “cost of local expenditures” from its own resources. Another way is to ask the government to provide counterpart financing to partly compensate for the exchange premium between the official and the parallel foreign exchange rate in countries where the cost of the policy is most apparent and distortive,” he stated.

The Nigerian Bar Association (NBA) has called for expression of interest from lawyers wishing to be appointed Justices on the Bench of the Supreme Court of Nigeria.

 In a letter, dated June 14, the Chief Justice of Nigeria (CJN), Justice Olukayode Ariwooola, had requested NBA President Yakubu Maikyau to nominate suitably qualified candidates to be recommended for appointments to the nation’s apex court.

There are eight slots to be filled on the Bench of the Supreme Court.

 Two applicants are expected from each of the Southeast, Southwest and Northcentral, while one each is expected from Southsouth and Northwest.

 Following the request from the apex court, the NBA President had called for expression of interest from amongst the union’s members who are suitably qualified candidates from the aforementioned geo-political zones.

 Such expression of interest must be submitted to the national secretariat of the association on or before June 21, the NBA president said.

 He added that the expression of interest should include: a copy of the applicant’s curriculum vitae; a copy of the applicant’s Call to Bar certificate; evidence of payment of Bar Practicing Fees (BPF) as and when due for 10 years preceding the application, inclusive of 2023; evidence of payment of NBA Branch Dues as and when due, for the past 10 years preceding the application, inclusive of 2023.

 Others are: evidence of attendance of at least 10 conferences of the NBA; evidence of membership of sections or fora of the NBA; certified true copies (CTC) of at least 10 judgments in contested cases conducted by the applicant within the five years preceding the date of application; a letter of good standing from the chairman of the applicant’s branch, and five letters of references, two of the referees must be Senior Advocates confirming that the candidate possesses the qualities set out in Rule 4(4)(1)(a), (b) and (d) of the National Judicial Council’s Guidelines for the Appointment of Judicial Officers for Superior Courts of Record, as reproduced hereunder:

 “…Good character and reputation, diligence and hard work, honesty, integrity and sound knowledge of law and consistent adherence to professional ethics; as may be applicable:

“Active successful practice at the Bar, including satisfactory presentation of cases in court as a legal practitioner either in private practice or as a legal officer in any public service; and

 “Credible record of teaching law, legal research in a reputable university and publication of legal works,” amongst others.

Former All Progressives Congress (APC) aspirants in the last elections have appealed to President, Bola Tinubu and Vice President, Kashim Shettima, to include them in the governance structure.

The former aspirants, under the group, APC360, comprises former Assembly, House, senatorial and governorship aspirants. 

In a statement signed by National Coordinator, Bem Garba and Secretary General, Dr Chris Enoch, the group noted many members were not given a fair playing field.

Members, it noted, is drawn from technocrats and private sector operatives with huge experience in administration, governance and management.

 They urged the President to utilise their technical expertise as he  turns around the economy, fight insecurity and poverty. 

The statement read: “In line with President Tinubu’s assurance of working with critical stakeholders in developing our country, we are appealing to him to extend an olive branch to members of APC360. 

“While we do not wish to stick to the memory of how the tickets were won and lost, it is important to assure the President, Bola Tinubu, that the same way he had our support during the campaign, is the same way we will support the administration to achieve its agenda. 

“As critical stakeholders , we are urging the President to put in place a reward system for those who have invested resources, by not only purchasing forms to seek election, but by mobilising support, and standing by the party despite unfair treatments. 

“We are appealing to the President to give our members a sense of belonging by considering them for appointments. 

“We are equipped with the knowledge, education, experience and technical expertise to contribute in entrenching a Renewed Hope for the benefit of our people”, the group said.

• Commission seeks 15% equal representation
• ‘Redress Northeast/Southeast underrepresentation’

The Police Service Commission (PSC) has approved new policy guidelines for deployment of management and tactical commanders in the Nigeria Police Force (NPF).

 The commission advised Inspector General of Police (IGP) Usman Alkali Baba to be guided appropriately by the policy guidelines said to be founded on principles of fairness and justice for all policemen and women.

 The new policy guidelines also involve the imperativeness for gender-sensitivity in the deployment of Assistant Inspectors General of Police (AIGs) and Commissioners of Police (CPs) to zonal and state command headquarters.

 The PSC considered and approved the policy guidelines at its 21st plenary meeting which held at its headquarters in Jabi, Abuja, and presided over by its Chairman, Dr. Solomon Arase, a retired Inspector General of Police (IGP).

 The commission said the NPF should be guided by the principle of Federal Character in both recruitment (at all levels) and deployment of its personnel at management and tactical levels to ensure balance, equity and fairness in the system.

It noted that the current deployment of CPs to state commands leaves much to be desired in reflecting the principle of equity and fairness to all geo-political zones of the country.

The PSC also noted that the current statistics of such deployments was against the Northeast and Southeast.

A statement yesterday in Abuja by PSC’s Head of Press and Public Relations, Ikechukwu Ani, reads: “The commission observed the disproportional distribution and lopsided deployment of command commissioners and noted that it has become extremely important that a fair representation of all geo-political zones is always reflected in these deployments to eschew and address the feeling and sense of marginalisation and injustice by certain zones of the country in the Nigeria Police Force.

 “The commission, at plenary and relying on Section 6(e) and (7) of the Police Service Commission Act, which empowers the commission to ‘formulate and implement policies aimed at the efficiency and discipline in the Nigeria Police Force and perform such other functions which in the opinion of the commission are required to ensure the optimal efficiency of the Nigeria Police Force, considered and approved the new Policy guidelines.”

 The statement said henceforth any request for deployment of CPs to state commands must ensure that the disadvantaged zones are considered first in the proposals to the commission in order to redress the present imbalance and lopsided deployments skewed against the Northeast and Southeast regions.

 Arase said: “All geo-political zones of the country must now have at least 15 per cent representation in the deployment of Assistant Inspectors-General of Police (AIGs) to zones, Commissioners of Police to state commands and posting of commanding officers of Police Mobile Force, Counter-Terrorism CTU and Special Protection Unit (SPU).

 “That all police deployments to zones and commands at both management (Deputy Commissioners of Police and Assistant Commissioners of Police and tactical levels (commanding officers of PMF/SPU/CTU, must recognise our heterogeneity and reflect fairness and equity in terms of ethnicity and religion.

 “The policy is also geared towards eliciting trust and confidence of the Nigerian people and taking ownership of their police in showing greater understanding, cooperation and support to the NPF towards improved community safety and adequate internal security in Nigeria.

 “The commission, on its Policy on Imperativeness of Gender-sensitivity in the Deployment of AIGs and CPs, noted the continued practice of lopsided deployments of only male police officers to zones and commands with no fair consideration and representation of female Police Officers who are qualified for such positions. It observed that this will in no time portray the police as an organisation that is anti-woman empowerment and averse to women inclusivity in governance.”

PSC also considered and approved that “at least three state sommands out of the 37 commands must have female police officers as their commissioners of police and out of the 17 zonal headquarters, at least one zone must have a female AIG to head the zone”.

The commission had also, at the plenary meeting, approved the appointment of two Deputy Inspectors General of Police, approved the promotion of 14 commissioners of police to the next rank of Assistant Inspectors General of Police, which included CP Adebowale Williams, who was until his promotion, the commissioner of police Oyo State command.

PSC approved the promotion of 22 deputy commissioners of police to substantive commissioners of police and which also included DCP Enyinnaya Inonachi Adiogu, who was formally Deputy Commissioner at the Special Fraud Unit (SFU) in Ikoyi, Lagos.

The immediate past Majority Leader of the Enugu State House of Assembly, Ikechukwu Ezeugwu, has sued activist-lawyer, Prof. Chidi Odinkalu, at an Enugu State High Court for alleged defamation.

 In the suit filed by his counsel, Ike Ozor, the erstwhile majority Leader is seeking an apology and N5 billion as damages from Odinkalu, a former Chairman of the National Human Rights Commission (NHRC).

 Ezeugwu claimed that Odinkalu published his photograph and phone number on Facebook, Twitter and Google and described him in a defamatory way.

 He claimed that in the post, Odinkalu said: “Ikechukwu Ezeugwu is leader and dis-honourable member representing Udenu in Enugu State House of Assembly. He is the ‘sponsor’ of this criminal Bill to pay 4 men & their wives N1.25 billion of the state’s money annually… Let’s give him #Oxygen. If u want his cell number, pls contact me https://t.co/OFXgFw47Er.”

 The former Majority Leader said the publication “carries with it the undertone and potential of inciting Enugu people against the plaintiff, his properties and family members”.

 He added that it “not only misrepresented the true content of the Bill” but also portrayed him in a negative light, branding the proposed legislation as “wrong, terrible, wicked, sinful, and depraved”.

Ezeugwu is also seeking: “An order directing the defendant to forthwith delete the malicious publication in his Facebook, Twitter and Google walls such that it will no longer pop-up in the Google profile of the plaintiff; and  “An order that the defendant publishes in four national dailies, a public apology to the plaintiff for defamatory publication.”

The immediate past President of the Court of Appeal, Justice Zainab Bulkachuwa, has defended her integrity in the course of performing her duties as a judicial officer.

 Justice Bulkachuwa was reacting to a comment by her husband, erstwhile Senator Adamu Bulkachuwa, that he obtained favours from her on behalf of some lawmakers.

Justice Bulkachuwa said she never, in her 40-year judicial career, compromised her oath of office.

 The former PCA bowed out of the Bench in March 2020 after reaching the mandatory retirement age of 70 years.

 But the spotlight was cast on her tenure last Tuesday, following the release of a video clip showing her husband making comments many interpreted as evidence of his interference in the performance of her duties as head of the country’s second highest court and possibly influencing her judicial decisions.

But repudiating the interpretation of judicial compromise on her part, Justice Bulkachuwa, in a statement dated June 17, said such insinuation was far from the truth.

 She said: “My attention has been drawn to the trending video of what was said by my husband, Senator Adamu M. Bulkachuwa.

 “I want to state categorically that I never at any time compromised my oath of office to favour any party who appeared before me throughout my judicial career spanning 40 years of service to my country.

 “My decisions were always based on the facts, the law and in accordance with my conscience and oath of office.

 “Also, as President of the Court of Appeal, my fellow justices of the court can attest to the fact that I never interfered with the independence of any of the justices of the court in the discharge of their judicial functions.”

 In March 2020, the former PCA told The Nation and other journalists at a valedictory service in her honour in Lagos, that she kept her husband’s politics and political career out of her home.

She said this helped her to guard against undue influence by politicians.

 Justice Bulkachuwa said: “My husband is a politician, but politics is a no-go area in the house. Even my children are aware of that. No politician is invited to the house. My husband can pursue whatever he wants to pursue as a politician, but we hardly discuss politics in the house. All these help to guard against any influence from any politician.”

 Similarly, in an interview with BBC Hausa Service on June 17, Senator Bulkachuwa denied using his wife to influence court cases.

 The former lawmaker, who has been facing calls by the Nigerian Bar Association (NBA), top lawyers and other stakeholders for his arrest and probe, blamed former Senate President Ahmad Lawan for not allowing him to complete his comments.

 Erstwhile Senator Bulkachuwa, in the video clip which surfaced last Tuesday, spoke during the valedictory session of the Ninth Senate.

 The former lawmaker claimed that he encroached on his wife’s “freedom and independence” in the course of her official duties as head of the second highest judicial office in Nigeria.

 According to him, she did not rebuff him.

 Bulkachuwa said: “…Particularly my wife, whose freedom and independence were encroached upon when she was in office. She has been tolerant and accepted my encroachment and extended it to my colleagues…”

 But he was interrupted and dissuaded from continuing by Senator Ahmad Lawan.

 Senator Bulkachuwa was elected to represent Bauchi North in 2019.

A coalition of civil society organisations (CSOs), under the aegis of the League of Nigerians in Diaspora (LOND), has urged the 10th National Assembly, led by Senator Godswill Akpabio, to remove the Nigeria Immigration Service (NIS) from the Ministry of the Interior.

The LOND noted that the National Assembly needs to establish the Nigeria Immigration Service Commission (NISC) to regulate, monitor and promote discipline and efficiency in the service.

 According to the coalition, despite the efforts of the personnel of the NIS to give their best in the last 60 years of NIS establishment, the years under the Ministry of Interior had been without requisite professionalism, discipline and cohesion in policies and implementation.

 In a statement yesterday in Yenagoa, the Bayelsa State capital, LOND Coordinator Yusuf Lawani argued that the establishment of the Nigeria Immigration Service Commission would eradicate the political bottlenecks witnessed in the issuance of passports, promote professionalism, discipline and foster unity among the personnel of the service.

 Lawani said after a review of the activities of the NIS in the last six years and the recent anomaly noticed in the ascension of the Acting Comptroller General and other comptrollers in various states due to lack of discipline, there was the need to have an NISC to monitor and maintain proper succession according to grades and ranks in service.

 The coordinator noted that instead, the Ministry of the Interior had been usurping the functions of the NIS personnel and turning the tradition of succession according to the NIS Act of 2015 into a political patronage.

 He alleged that the role played by the ministry during the recent desperate extension of the service of Caroline Adepoju as Comptroller General for three months and her last minute appointment by former Interior Minister Rauf Aregbesola showed an open display of malice to professionalism, a slap on the service, a bad precedent and a show of executive irresponsibility.

 Lawani said: “If the Nigerian Immigration Service is established and manned by experienced NIS retirees, the exalted position of the NIS as a vital component of the national security architecture will be maintained.

 “Also, the retirement status of 35 years in service will be maintained and issues of proper promotion, discipline, cases of insubordination will be a thing of the past. Performance and discipline will be imbibed in the personnel among the ranks.

 “In the Immigration Act, 2015, Article 8, Section 3 (1) states that upon retirement of the Comptroller-General, the President shall appoint from among serving officers of the service on recommendation of the board.

“But the NIS is being rubbished by the fact that a Deputy Comptroller General that her service expired on May 31, 2023 was appointed by Rauf Aregbesola in a blizzard manner, backdating the ill-conceived appointment to May 26, 2023, which was done without a presidential approval.

 “The Immigration Service Commission, if established, will promote the beauty of any uniform service with proper career progression, promotion of officers as and when due, alongside their course mates, colleagues and peers, not selective, discriminatory and hand picking of officers, among others.”

President Bola Ahmed Tinubu yesterday lauded the roles fathers play as the shapers of the nation’s future.

 In his Father’s Day message to Nigerian men posted on his verified Twitter handle, @officialABAT, the President acknowledged the role of fathers, which he said has continued leave indelible marks on the society.

 President Tinubu noted that through their unwavering support and guidance towards their children, fathers have continued to instill the values of compassion, resilience, and integrity.

“On this joyous occasion of Father’s Day, we come together to honour the remarkable fathers who have left an indelible mark on the lives of their children and the fabric of our society. 

“Your love, sacrifice, and unwavering dedication are a testament to the extraordinary role you play in shaping the future.

“To all the fathers, stepfathers, grandfathers, and father figures who have embraced the responsibilities of fatherhood with open arms, we extend our deepest gratitude.

 “Your presence in the lives of your children brings strength, stability, and endless possibilities. Through your unwavering support and guidance, you instill in them the values of compassion, resilience, and integrity.

 “We celebrate you today and always… Happy Father’s Day,” he wrote.