Thursday brief: UK opens door to Nigerian teachers
+ Tinubu leaves Minna rally early, campaign says no health issue
Good morning.
Today it’s about the UK turning to teachers from Nigeria and other countries to shore up its education sector and Bola Ahmed Tinubu leaving a rally in Minna earlier than expected.
Senate asks CBN to review cash withdrawal limits
The Senate on Wednesday asked the Central Bank of Nigeria to review its cash withdrawal limit policy.
The policy, expected to take effect from January 9, would limit cash withdrawals to N100,000 for individuals and N500,000 for corporate organisations.
According to the CBN, the move is part of its plan to implement a cashless economy.
But many experts have pointed out that the limit could hamper economic activities, especially in the informal sector - more than half of Nigeria’s economy - which still largely relies on cash transactions.
Comment: If the CBN is serious about a cashless economy, it should continue to promote cashless banking infrastructure and innovation, like the Kenyans did with Mpesa and the Chinese with WeChat.
What next: CBN Governor Godwin Emefiele has already said the bank is open to revisions, although it won’t abandon the cash withdrawal limit policy. So expect some changes. Maybe individuals will get a N200,000 per week limit? Would that be enough?
Related: The newly redesigned naira notes are expected to go into circulation today.
Buhari meets Biden at US-Africa summit
President Muhammadu Buhari met with US President Joe Biden on the sidelines of the US-Africa summit in Washington DC.
It is not clear what the duo discussed during their meeting but the US President delivered a speech with some promises for the continent.
In his speech, Biden said the US “is signing an historic memorandum of understanding with the new African Continental Free Trade Area Secretariat” that “will unlock new opportunities for trade and investment between our countries and bring Africa and the United States even closer than ever.”
Biden also announced that the US is investing $100 million to increase clean energy for millions in Sub-Saharan Africa, $20 million to provide financing for fertilizer, and $10 million to support small businesses that help provide clean drinking water.
He unveiled a new initiative: the Digital Transformation with Africa. The initiative is expected to invest $350 million “to facilitate more than almost” $500 million in financing to ensure more people across Africa can participate in the digital economy.
UK opens door to Nigerian teachers
Nigerian teachers can now apply to become certified educators in the United Kingdom, opening up another immigration pathway.
The application process is expected to commence in February 2023.
Teachers from Ghana, Hong Kong, India, Jamaica, Singapore, South Africa, Ukraine and Zimbabwe are also available.
The UK is currently experiencing a teacher training crisis and appears to be turning to immigration to make up the shortfall.
For more information on how to apply, check here.
What else is happening?
Second Niger Bridge: After decades in development, the bridge is expected to open to traffic today.
Ademola Adeleke: The Osun State Governor has ordered the immediate suspension of all mining activities by firms operating on the state’s mining licences.
Stolen treasures: The University of Cambridge said it will return 116 Benin bronze artefacts to Nigeria.
Zainab Ahmed: The finance minister said Nigeria has no plans to issue Eurobonds in 2023 unless market conditions improve as bond prices are too high at the moment.
Bola Ahmed Tinubu: The APC presidential candidate left a rally in Minna earlier than expected. His campaign team said it was not due to health reasons.
Fighting corruption: The Federal Government said the whistleblower policy response has lost momentum as people are concerned about their safety. A new bill has been introduced to address the concerns.
Kaduna state: The Ansaru terrorist group has established another government within Birnin Gwari local government area, according to a councillor.
David Oyelowo: The British-Nigerian actor and producer is executive producing a limited series about Biafra, in collaboration with the BBC, Argo Films and Fremantle.
That’s it for today. See you tomorrow.