Tag Archives: Idle

$20bn Lying Idle In Nigerians’ Domiciliary Accounts- CBN

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The Central Bank of Nigeria on Thursday raised the alarm that about $20bn (N3.94tn) was lying idle in different domiciliary accounts of the citizens.

The Deputy Governor, Financial System Surveillance, CBN, Dr. Joseph Nnana, stated this during a meeting of the Joint Appropriation Committees of the National Assembly with government officials on the 2016 budget.

Nnana said, “Distinguished chairman sir, we have $20bn lying idle in various domiciliary accounts of many customers at the various banks across the country.“This is part of the reasons why the naira has continued to slide against the US dollar.”

He alleged that some privileged Nigerians were behind the consistent slide in the value of the naira by embarking on dollar speculation to the detriment of the local currency.

The CBN deputy governor, however, expressed the hope that the passage of the 2016 budget would put a stop to the unrestrained drop in the value of the naira.

Credit: Punch

Terrorism Can Only Endure If Good People Remain Idle, Complacent– Buhari

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President Muhammadu Buhari said on Sunday in Malta that violent extremism and terrorism can only thrive and endure if good people remain idle and complacent. Speaking on behalf of other participating African Heads of State and Government at the closing Executive Session of the 2015 Commonwealth Summit, President Buhari said that he was confident that terrorism will be ultimately defeated with greater international cooperation and collaboration. “We have had the opportunity to discuss, in a serene atmosphere, wide ranging issues that are of great significance, not only to the members of the Commonwealth, but to the entire global community.

“Of particular note is the Action Statement on Climate Change, which is expected to herald our commitment to saving the planet for present and future generations. “Of equal significance are our deliberations on Radicalisation and Violent Extremism. We are witnesses to the growing phenomenon of terrorism that is affecting us all, whether big or small. “The reign of terror will only succeed if peace-loving people choose to remain idle.

Credit: DailyTimes