 Diversion of diaspora remittances is the reason for Naira Crash, that is according to the CBN Acting Governor, and on the show today we'll try to x-ray the statements by the CBN Acting Governor. Also, a risk of SMEs being crippled by current economic climate is area of concern as well on the show this morning. We're going to be looking at the headlines that made it to the front pages of our national dailies. Good morning and welcome to the break fast. My name is Nyam Gul Aghaji. Every Thursday we think business, we think entrepreneurship, we think how to make our lives better by being innovative enough in our business world. We do hope that wherever you are you've been able to reach your office or if you're about to leave nowadays the kind of traffic we used to experience is not more as much as it used to be. For whatever reason it is, we thank God for small messes. So we go straight to our top trending for this morning and the first one is the implementation of student loan to begin in 2023-2024 academic session that's according to the federal government. By the way, we sincerely apologize for starting a little bit late. The federal government has announced the implementation of the student's loan scheme. They say it will commence during the 2023-2024 academic session. The permanent secretary of the Federal Ministry of Education, David Adejo, made the disclosure in Abuja during a meeting with the House of Representatives Committee on Student Loans. He said President Bola Atinogu had directed the completion of necessary work on the modalities for the student's loan implementation with a target start date in September 2023 and according to the permanent secretary the president had established a coordinating committee with the chief of staff Honorable Femig Bajabia Mila serving as the chairman. He added that the committee comprises key entities such as the Central Bank of Nigeria, the Federal Budget Office, the Ministry of Education, the Ministry of Finance and others. Adejo also described as untrue that the signing of the Students Loan Act had prompted several federal universities to increase their charges while saying they recently increased their charges by federal universities in the country was unfortunate. He explained that no federal university in the country was allowed to collect tuition fees from students at all. In his words the charges are not to cover anything else but the cost of accommodation, ICT and power among others and it is the governing council of the university that have the power to approve such charges. He explained that the only federal university that increased charges after the signing of the Student Loans Act was the University of Lagos who got approval from the ministry after submitting a proposal to increase their charges because all governing councils were dissolved and this was followed by a resolution from the House stopping the increase of fees in the president and the president gave a directive stopping any increase in fees with other federal universities also having submitted proposals. So if Lagos will be given the opportunity to do that maybe in time other universities will also be given opportunity to do that and that's the worry of everybody. Now even if the tuition is not charged in any institution and other charges have skyrocketed then what is the difference if you say that fees are not going to be charged in school? Sometimes it's just like having a basic salary and having allowances. Sometimes the allowances are a lot more than the salary so you can even forfeit your salary and say okay let me just take only the allowances which will be a very very lump sum. So if you're saying that the charges or the charges it's appropriate for the governing councils of every university to see as they're going to, if they want to raise it, it is their prerogative to do that and you just leave it for every university to do that. Will that not be cutting corners to get the same thing that we're trying to avoid by saying that there should not be tuition in any federal university? So maybe the government should look into that. When we saw the report on the student loans we saw their responses from the people. A lot of people were not comfortable with it and they said that they were not going to take these loans and they would not encourage people to take the loans maybe because of the kind of experiences they've had. I don't know about that but the comments, there were not many supporting these and saying that it's a good thing that it's going to happen. Some say that you're going to pay this loan for the rest of your life and so many other pessimistic comments that were given when we read those things or when that thing was posted on X. That's a new name for Twitter by the way. So we do not know what the new modalities are because the first ones that were given, people were not comfortable about it. The people who were qualified and how much will these people be getting and then how do they plan to recoup this money from the people that are going to collect this money. These things should be laid bare for people to see and decide whether they're comfortable collecting the loans or not. Then very worrisome news, that's the second trending, is that the terrorist group claimed responsibility. A terrorist group claimed responsibility for NAF helicopter crash. Remember that the helicopter crashed and notorious terrorist Abdulahi Abubakar, popularly known as Dogo Gide, has claimed responsibility for the shooting down of a Nigerian Air Force helicopter on a rescue mission in Niger State on Monday. In a 2 minute 17 seconds video, Gide's fighters were seen celebrating the shooting down of the helicopter with a voice in the clip narrating how the helicopter was shot down. There's a video for that but we cannot play that for obvious reasons and even the pictures we are showing, viewer discretion is asked for is needed. Military authorities said the helicopter crashed while on a casualty evacuation mission near Chukuba village near Shiroro and the helicopter was on its way to evacuate some of the soldiers killed by the terrorists urging or during an ambush in the state. Dogo Gide rose to prominence in 2018 if you remember after he reportedly killed Soho Buhari who used to be the most ruthless and most feared terrorist in the region. Gide who used to be a protégé of Buhari Daji allegedly killed him after an argument ensued between both men after Mr. Buhari reportedly rustled the cattle of Gide's in law. Now it's unfortunate that we lost our garland soldiers there in that unfortunate plane crash. Whether it was a crash or it was shot down, the fact is that 20 lives have been lost. Those are fathers, those are brothers, those are friends that have gone in the course of duty to our nation trying to keep us safe and may their souls rest in peace. And a final thing that is really, really trending is the fact that the president has finally given us a portfolio that has put a name to every minister. There would be ministers, now there are ministers and then this is what we got. So let's take a look. Okay, that was the ministerial list as it is and their portfolio. We're glad that we've seen at least one new face or a few new faces and every other one is, you know, you are either one-time senator or one-time governor or something, something, being in the corridors of power for a very long time. For example, the minister of finance and the economy, Walidu, has been there forever. He was also the commissioner of finance in Bola-Tinobu's time as governor in Lagos state. So he trusts him so much and has taken him to the national level. So he's now the minister of finance and the economy. Okay, but we also have the minister of humanitarian affairs and poverty alleviation in the person of Dr. Beta Edu. I think she's like the youngest minister on that list. It's just in her 30s and she has made the list. She is the current women leader, APC women leader, so national APC women leader and she's now been made the minister. I don't know if someone else will take that position or it's going to still be her holding two portfolios. One in the party and the other one in the cabinet. Well, whatever it is, we do hope that these ministers will deliver. That's the point in all this. We do hope that they will deliver and we do hope that all geopolitical zones will be satisfied with the nominations and everything because we saw a breakdown of where the ministers come from. Some people had or some geopolitical zones had six, others had four, others had five and all that. The least geopolitical zone was I think the southeast that had four ministers and the rest had five or six, as the case may be. But whatever it is, we don't care as Nigerians where anybody comes from, if we can get the job done. If Nigerians will see a new lease of life, if Nigerians will have it very rosy from now on, nobody will care where you come from. For instance, when we look at our football team, if they are playing, nobody says that is a Euroban man passing to an Igbo man or passing to a Hauser man or passing to an Iqbal man. They don't care where they come from. So long as they are Nigerians, we applaud them all. So the team should play as a team and then deliver the dividends of democracy to Nigerians. That's all we care about. We'll just take a short break right now and when we return, we're going to be looking at the headlines. Stay with us.