Newspaper review for October 3: Uproar as FG plans to introduce toll gates
The headlines of mainstream Nigerian newspapers for Thursday, October 3, are focused on the retintrodution of toll gate fees and the reactions that trailed it, the fine 12 banks will be paying the Central Bank of Nigeria (CBN) for breaching its loan policy, and the Process and Industrial Developments Limited (P&ID) corruption case, among other top stories.
The Guardian reports that the government of President Muhammadu Buhari is considering building toll gates more than a decade after the former president, Olusegun Obansanjo, demolished them.
It should be noted, however, that there is a strong opposition to the plan as experts in the sector put forward the idea of reform rather tolling as a solution to the road maintenance in the country.
Source: UGC
Vanguard reports that the move by the federal government to bring back toll gates on roads was met with an uproar as people gravely opposed the idea.
The former national vice president of the Nigerian Bar Association, Monday Ubani, said the reintroduction of the plan will show that government is very unfair to the masses, while Debo Adeniran, the executive director of Centre of Anti-Corruption and Open Leadership, said there is no good reason to bring back toll gates.
Source: UGC
The Nation reports that 12 banks will be paying the country's apex bank a fine of N499.1 billion for going against its lending policy.
The CBN had on July 3, 2019, directed banks to maintain a minimum Loan Deposit Ratio (LDR) of 60 per cent by September 30, 2019.
The governor of the apex bank, Godwin Emefiele, had said that banks that fail to meet its directive on the 60 per cent LDR would be penalised at the expiration of the deadline.
Source: UGC
The Punch reports that the federal government has directed its counsels to appeal the judgement of Justice Christopher Butcher of the Commercial Court in London which ordered Nigeria to pay the sum of $200 million security money into the court's account.
This was disclosed by the minister of information and culture, Lai Mohammed, on Wednesday, October 2, who was part of government officials that went to London last week.
Source: UGC
This Day reports that the federal government on Wednesday, October 2, said it has confidence that it would overrule the $9.6bn judgement that was slammed on the country by a London Arbitration Tribunal to the P&ID.
The new decision was made known by the minister of information when he addressed newsmen in Abuja on Wednesday, October 2.
Source: UGC
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