Nigeria’s Apex Bank Boss, Emefiele Elected President Of AACB

Godwin_EmefieleThe Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has been elected as the President of the Association of African Central Banks (AACB).

Mr Emefiele was elected at the 39th ordinary meeting of the Assembly of Governors of the AACB in Abuja, Nigeria’s capital.

He succeeds Mr Lucas Nchama who is now the Governor of the Bank Of Central African States.

Mr Emefiele would be President of the AACB from 2016 to 2017.

The Governor of Central Bank of Burundi was elected Chairman of the East African sub-region while the Governor of the Central Bank of the Kingdom of Swaziland was elected Chairman of the Southern African sub-region.

Others elected are the Governor of the Bank of Ghana as Chairman of the West African sub-region and Governor of the Central Bank of Mauritania as Chairman of the North African sub-region.

Reading a communique at the end of the meeting, the new AACB President told the gathering that the nomination for the Vice Chairman of the AACB, which was zoned to the South African Sub-region, would be made known in due course.

The Assembly of Governors also chose: “Prospects for monetary integration in Africa: Lessons learned from the experience of monetary and financial integration of Europe,” as theme for the 2017 symposium.

The Assembly of Governors further stressed the necessity for African countries to diversify their economies and improve exports, while limiting imports.

They also emphasised the urgent need for coordination between monetary and fiscal policy across all African countries.

The Assembly further urged African countries to strengthen efforts at implementing structural reforms in order to diversify their respective economies, improve the business environment and promote intra-regional trade as a way of strengthening their resilience amidst external shocks.

The meeting was attended by 27 member Central Banks and the African Union Commission (AUC).

Regional Security Summit Commences In Abuja

Security SummitNigeria is hosting the second regional security meeting in Abuja to consolidate efforts for regional peace and development. The summit has commenced.

The Multi-National Joint Task Force Commander has drawn the attention of member states to the need for improved allowances for the troops and purchase of equipment for detecting and destroying IEDs.

Meanwhile, the Executive Secretary of the Lake Chad Basin Commission is asking member states to begin to fix attention on developmental programmes which will address the root causes of insecurity in the region.

Saturday is for the presentation of the recommendations from the series of meetings they will be holding to the leaders of member states.

Discussions at the Summit will focus on intelligence on the location and rescue of the over 200 abducted Chibok girls and an implementable action plan for the joint fight against insurgency in the African region.

Presidents of four member countries of the Lake Chad Basin will be attending the Summit as well as representatives of other neighbouring African countries, the European Union, the United States and the British government.

The Permanent Secretary of the Ministry of Foreign Affairs, Ambassador Lolo Bulus, said that the Summit is sequel to the Security Summit in Paris.

President Buhari To Host Security Summit

security summit, President BuhariNigeria will host the second regional security summit in Abuja as part of efforts by the federal government to boost the security of lives and properties.

According to a statement by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, the summit will attract leaders from across the globe including French President, Francois Hollande who hosted the first regional security summit in Paris on May 17, 2014.

President Muhammadu Buhari and the French President who is scheduled to arrive in Abuja on Friday will be joined at the summit by the presidents of Cameroon, Niger Republic, Chad and Benin Republic.

The United States, Britain, Equatorial Guinea, the European Union, Ecowas, the Economic Community of Central African States and the Gulf of Guinea Commission will also be represented at the summit.

The summit will have the successful conclusion of ongoing military operations against Boko Haram at the top of its agenda.

Agreements on further defence and cultural cooperation between Nigeria and France are expected to be concluded between the two presidents.

About 200 Boko Haram Fighters Surrender

boko haramCall it the biggest Boko Haram surrender to the Nigerian Army and you may not be wrong as some 200 members of the Boko Haram Islamist militant group have given themselves up to the Nigerian Army.

The fighters are said to have handed themselves over in the town of Banki on the border with Cameroon.

The military earlier said that the town had been recaptured from Boko Haram but there is no independent confirmation.

Some 17,000 people are said to have been killed in the six-year insurgency, mainly in northern Nigeria.

Nigerian Troops Capture Banki Town

Boko Haram-bankiNigerian troops says they have captured the economic and strategic town of Banki town in Borno State.

A statement issued by the Acting Director Army Public Relations, Colonel Sani Usman, said the soldiers also destroyed seven Boko Haram camps and successfully diffused seven Improvised Explosive Devices (IEDs).

According to Colonel Usman, several Boko Haram terrorists were killed, and others captured alive between Banki junction and Ngorosoye.

Banki is a said to be a town where major economic and trading activities between Nigeria, Cameroon and Central African countries take place.

On Wednesday, the Nigerian Army said it had arrested a Boko Haram Commander, alongside 42 other suspected members.

The troops also revealed that 241 women and children were rescued during the operation.