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Category: General News

  • Recapitalisation: CSOs uncover counterplans to FG’s proposed banking reforms

     

    CBN

    By Adekunle Williams

    Lagos, June 24, 2024 (NAN) The Coalition of Civil Society Organisations has alerted the Federal Government and  CBN to an organised plot by some vested interests to orchestrate a diversionary campaign to stop the proposed banking sector reforms.

    The coalition is made up of the Constitutional Rights Advocate Initiative, Cadrell Advocacy Center, Movement for Nigeria Restructuring, Center for Social & Economic Rights, Committee for the Protection of People’s Mandates and Commonwealth Institute of Advanced & Professional Studies

    The spokesperson of the coalition, Mr Nelson Ekujumi, made this known at a news conference on Monday in Lagos.

    The News Agency of Nigeria (NAN) reports that the Central Bank of Nigeria (CBN) on March 29, said it had directed commercial banks with international authorisation to increase their capital base to N500 billion and national banks to N200 billion.

    According to the acting CBN director, commercial banks with national licences must meet a N200 billion threshold, while those with regional authorisation are expected to achieve a N50 billion capital floor.

    The Banking Sector Recapitalisation Programme is a regulatory initiative of CBN that requires banks to increase their minimum paid-in common equity capital to a specified amount according to their licence category and authorisation within a specified period of time.

    According to Ekujumi, who is also the Convener, Committee for the Protection of People’s Mandate, some Nigerians were planning to use faceless civil society organisations because these people do not want the fresh injection of capital into the banks.

    The spokesperson alleged  the group intended to delay or force CBN to drop the ongoing reforms of the banking sector.

    This, he said, was to elongate the stay of their Pay Masters at the helm of affairs at some of the ”sick” banks that required the recapitalisation the most.

    Ekujumi noted that recapitalisation programmes required forensic audit of the loan books, saying that this was what they did not want.

    He said: “We are a coalition of civil society organisations. Our role is to act as watchdogs to government in overarching interest of the Nigerian people.

    “We have followed the various economic policy reform programmes of the present administration, we have at different times expressed our views on them.

    “These faceless groups were planning to use some faceless civil society organisations who will begin to make preposterous claims and allegations against some Nigerians who critical to the success of the planned banking recapitalisation programme.

    “We also have credible intelligence that they intend to make some unsubstantiated allegations against the current CBN Governor, Mr Olayemi Cardoso; Mr Olawale Edun, the Finance Minister and some investors in the banking sector.

    “What is their goal?

    “It is to either delay or force the Central Bank of Nigeria to drop the ongoing reforms of the banking sector so as to elongate the stay of their Pay Masters at the helm of affairs at some of the sick banks which require the recapitalisation most.”

    He said: “It is germane to say that some of the banks which require the recapitalisation most are the very ones in need of the injection of capital off the back of the recapitalization programme.

    “However, these vested interests would rather leave the banks in their sick state so as to prevent the truth from being unearthed.”

    Ekujumi said: “If indeed they cared about the interest of the banks in question, why don’t they want new capital injected to save the banks?”.

    He likened the allegation to that of a parent of an anaemic child rejecting blood donation even when the doctors certified the blood to be clean.

    The spokesperson said one of the critical pillars upon which the economic reforms agenda of the Federal Government was anchored was the proposed banking sector reforms.

    He said Nigeria could not afford another banking sector crisis which would throw more Nigerians into the unemployment market.

    Ekujumi said this was why they were raising the alarm, adding that they had secured the services of some faceless civil society and online media to advance this gaslighting campaign.

    He said in the case of one of the banks, the ages of some of the Non-Performing Loans (NPLs) would shock the Nigerian public.

    According to him, they date back to the 1970s with interest capitalised running into decades.

    “But, thankfully, there has been a successful sale of the debt to a company as it is done the world over,” he said. (NAN)www.nannews.ng

    WAC/VIV

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    Edited by Vivian Ihechu

  • Baylesa commissioner reiterates commitment to boost agriculture  

    Agriculture

    By Shedrack Frank

    Yenagoa, June 24, 2024 (NAN) Prof. Beke Sese, newly appointed Commissioner for Agriculture and Natural Resources in Bayelsa, says the state government will provide the enabling environment for agriculture to thrive

    Sese, a professor of Animal Science, made the statement in an interview with the News Agency of Nigeria (NAN) in Yenagoa on Monday.

    He said that the government would take advantage of the peaceful atmosphere across the state to implement policies that would trigger massive food production.

    The commissioner said that farmers in the state had no reason to nurture fears over how to access their farmlands because the state was peaceful and secure.

    “I am coming with a charge from the governor to make a difference. Our environment is suitable for many types of crops.

    “We can massively produce rice, plantain, cassava and other crops from this state. The Bayelsa Palm must come back to life,” he said.

    Sese urged Bayelsa people to continue to support the Gov. Duoye Diri-led government by making meaningful inputs that would enable it to implement people-oriented programmes.

    “The governor has demonstrated uncommon commitment and wisdom in handling the affairs of the state, he needs the encouragement of the people to do more,” he said.(NAN)(www.nannews.ng)

    FS/OJI/AZU

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    Edited by Maureen Ojinaka and Azubuike Okeh

  • Tinubu condoles with VP Shettima over passing of mother-in-law

    Tinubu condoles with VP Shettima over passing of mother-in-law

    Condolence

    By Salif Atojoko

    Abuja, June 24, 2024 (NAN) President Bola Tinubu condoles with Vice-President Kashim Shettima and his family over the passing of Hajiya Maryam Abubakar Albishir, his mother-in-law.

    Chief Ajuri Ngelale, Special Adviser to the President, Media and Publicity, in a statement on Monday, said the President described the passing of Hajiya Maryam as a deeply painful loss.

    The News Agency of Nigeria (NAN) reports that Hajiya Maryam was the mother of the Vice-President’s wife, Hajiya Nana Shettima.

    “The President not only mourns the deceased but also celebrates her legacies of philanthropy and good virtues.

    “While praying for the repose of the soul of the late Hajiya Maryam, President Tinubu urges the family to take solace in the remarkable life the departed matriarch lived,” said the statement. (NAN) (www.nannews.ng)

    SA/AMM

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    Edited by Abiemwense Moru

  • Obi suggests ways to tackle  exodus of multinationals

    Obi suggests ways to tackle  exodus of multinationals

    Multinationals

    By Monday Ajogun

    Onitsha (Anambra), June 24, 2024 (NAN) Mr Peter Obi, Labour Party’s Presidential Candidates in the 2023 General Elections, on Monday suggested  ways Nigeria could tackle exodus of multinational companies.

    The former governor of Anambra State made the suggestions  on his X handle.

    According to Obi, exodus of multinational companies from Nigeria has cost the nation N95 trillion in the past five years.

    Obi said that tackling the issue would require creating a business-friendly environment that would  boost investment, innovation and growth.

    “This includes prioritising security, stabilising our policies and reducing energy costs.

    “We must also cultivate a culture of transparency, accountability and good governance.

    “We can build an economy that benefits all Nigerians. Let us unite to transform Nigeria into a nation conducive for business and  attractive to investment.

    “Together, we can make Nigeria a beacon of hope and progress in Africa and the entire  world,” he said. (NAN) (www.nannews.ng)

    AJOM/OJI/IGO

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    Edited by Maureen Ojinaka/Ijeoma Popoola

     

  • ANAN assures participants of security ahead of MCPD programmme in Adamawa

    Security

    By Talatu Maiwada

    Yola, June 24, (NAN) The Association of National Accountants of Nigeria (ANAN), Adamawa branch, has assured the participants of security ahead of its upcoming third session of the 2024 Mandatory Continuing Professional Development (MCPD) Programmme.

    Association’s Branch Chairman, Dr Titus Obadiah, during a news conference in Yola on Monday, said the security situation in Adamawa had greatly improved.

    The News Agency of Nigeria (NAN) reports that the MCPD programme with the theme: “Sustainable Accounting and Economic Social and Governance (ESG) Reporting’’, is scheduled to hold from July 1st to 3.

    Obadiah, who was represented by Mr Tyona Terkimbi, Chairman, Local Organising Committee, restated the association’s commitment to collaborate with security agencies in providing a safe and secured environment.

    “The event is expecting to host over 2000 participants from across the country, with some visiting the state for the first time.

    “At a time when all-over the state is branded as Boko Haram area where no human being exists, but now the security situation in Adamawa has greatly improved.

    “We have engaged in meaningful discussion with the security agencies towards confidence building and sensitisation on the security implication of the stay of our numerous participants in town.

    “We are satisfied with their response and participants are enjoined to exercise minimum level of caution without fear as security agencies are in control of the situation, “Obadiah assured.

    He said the objectives of the association aimed at
    advancing the science of accountancy by determining the standard of knowledge and skills of persons seeking to become registered members of the profession.

    According to him, association carries out its mandate through two organs, firstly, the Nigerian College of Accountancy as the training arm for advancing the science of accountancy, thereby ensuring broad training like law and medicine.

    “Secondly, the MCPD programme is aimed at continuous development of existing professional accountants knowledge on current issues and developments in the profession.

    Obadiah listed activities line up for the event to include courtesy call to the Adamawa State Governor, gala Nite, technical sessions and induction off new members, among others. (NAN)(wwwnannews.ng)

    TIM/ADA

    Edited by Deji Abdulwahab

  • I inherited N359bn salary arrears in Benue – Alia

    I inherited N359bn salary arrears in Benue – Alia

    Salary

    By Emmanuel Antswen

    Okpoga (Benue), June 24, 2024(NAN) Gov. Hyacinth Alia of Benue has said that his administration inherited over N359 billion salary arrears of several years from his predecessor.

    The governor stated this at Okpoga, headquarters  of  Okpokwu Local Government Area  on Monday, during a thank you tour of  Ado/Okpokwu/Ogbadibo Federal Constituency.

    He alleged that previous administrations in the state lied to the people that the Federal Government denied them funds to pay salaries.

    The governor promised that his administration would continue to prioritise the payment of workers’ salaries.

    “Henceforth, civil servants in the State will be paid from 22nd of every month,“he said.

    He thanked the people for the confidence reposed in him to lead the State, and promised to revive the Igumale Cement factory as well as construct access roads in the area.

    “I see that Okpoga is in darkness, I will light it up with 5,000 kw electricity. I have come to reduce your pains and suffering.,“he said.

    He urged them to continue to support his administration and be patient with President Bola Tinubu , as he has good policies for Nigerians.

    Earlier, Mr Daniel Onjeh, a former Senatorial candidate under the All Progressives Congress ( APC), urged the governor to match words with  action by fulfilling his campaign  promises to the people.

    Onjeh said the opposition parties were mocking the people that he has abandoned them in terms of infrastructures and appointments.

    ‘The opposition is asking what you have done for Benue South. We want to see things manifest. Do not be distracted by the blackmail of the opposition”, he said.

    Mr Benjamin Omakolon,  the APC Acting Chairman, while receiving 500 persons who defected from the opposition parties to the APC at the event,  promised them  equal treatment.(NAN)( www.nannews.ng)

    AEB/JPE

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    Edited by Joseph Edeh

  • FERMA to complete 3 road projects in Kebbi in 3 weeks – Official

     

    FERMA Maintenance Engineer In-charge of Kebbi, Rliwanu Usman

     

    FERMA to complete 3 road projects in Kebbi in 3 weeks – Official

    Road

    By Ibrahim Bello

    Birnin Kebbi, June 24, 2024 (NAN) The Federal Road Maintenance Agency (FERMA), in Kebbi, says it will complete the three ongoing direct labour road projects within three weeks in Kebbi.

    The Federal Road Maintenance Engineer In-charge of FERMA in the state, Rilwanu Usman, made this known in an interview with the News Agency of Nigeria (NAN) in Birnin Kebbi on Monday.

    He said the renewed hope in FERMA under the leadership of Dr Chukwuemeka Agbasi, believed in carrying out its mandate to the fullest.

    “You can see it for yourself that we addressed the problem of water pounding along the same Gotomo-Argungu- Sokoto road by constructing four cell box culverts at Wali in December, 2023.

    “We also constructed reinforced concrete line drain and repaired a completely failed section,and made Birnin-Kebbi to Sokoto border pothole free through a very impactful programme called “Operation Safe Connect to Your Destination.

    “Through the programme, we made Birnin Kebbi- Argungu- Sokoto border, and  Kalgo- Kamba road pothole free; as well as Bunza- Dakongari- Kende, which is a link to federal roads, pothole free.

    “As a result of this programme, the rate of accidents have now reduced drastically as some of the accidents recorded in the past were attributed to potholes, ” he said.

    Usman added that the agency had three direct labour road projects ongoing in 2024 in the state from January to date.

    “At Wali, around kilometer 54, there was a collection of water; that is a stagnation of water to the extent that after heavy downpour, all motorists plying the road have to park until water recedes because of its force waves and movement.

    ” We have brought a permanent solution now to the area.

    “We also have Birnin Kebbi – Argungu road, at Alwasa community; there was a place which was notorious and has been undergoing serious rehabilitation and repairs.

    but now we got approval to construct three- meter by three-meter  box culverts and has now reached 60 per cent completion,” he said.

    Usman added that there was rehabilitation of Sokoto State border road along Jega- Koko- Yauri- Niger state border road, saying the road had reached 80 per cent completion.

    “We have Argungu- Bui road, around Lailaba; there were serious embankments and rehabilitation which have now reached 55 per cent completion stage.

    ” All the projects will be completed within a three to four weeks period,” he assured.

    Usman reiterated the commitment of Agbasi to make all federal roads in the state and even beyond potholes-free, and motorable all year round within the limit of available resources.

    He commended Gov. Nasir Idris of Kebbi for his efforts in constructing befitting roads, providing them with solar streetlights and providing an enabling environment for the agency to thrive.

    “We also commend the Minister of Budget and Economic Planning, Sen. Atiku Bagudu, for his support and encouragement to the agency in the state in particular and country at large,” Usman said. (NAN) (www.nannews.ng)

    IBI/BRM

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    Edited by Bashir Rabe Mani

     

     

  • Man seeks divorce after 49 years of marriage in Ilorin

    Divorce

    By Mujidat Oyewole

    Ilorin, June 24, 2024 (NAN) One Abdulrasaq Oyewumi on Monday filled for the divorce of his wife, Silifat Abdulrasaq, after 49 years of marriage over alleged stubbornness.

    The petitioner told the court that his wife was disrespectful and arrogant.

    According to Oyewumi, she does not obey my instruction but prefers to do things her way.

    “I have unofficially divorced her thrice and each time she packed to her father’s house, her relatives will beg for reconciliation but she will repeat the same thing each time she returns.

    “I am tired of her attitude and cannot live with her again. I want to officially divorce her,” he said.

    Silifat told the court that she loved her husband and could  not leave her matrimonial home.

    “I have pleaded with him but he does not want to accept my apology.

    “I did not intimidate any of his family member and I don’t have anywhere to go, I will change my behaviour,” she pleaded.

    The presiding Judge,Hammad Ajumonbi, ordered that the petitioner should make provision for the respondent accommodation, where she would observe her three months iddah (period of grace) before the next adjourned date.

    The case was adjourned until July 8 for hearing. (NAN)www.nannews.ng

    MOB/DEB/JI

    Edited by Joe Idika
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  • A’Ibom Govt. urges farmers to adopt good agronomic practices

    Farmers

    By Isaiah Eka

    Odoro Ikpe (Akwa Ibom), June 24, 2024 (NAN) Dr Offiong Offor, Commissioner for Agriculture and Rural Development in Akwa Ibom, has urged cocoa farmers in the state to adopt good agronomic practices in order to ensure improved yields.

    Offor gave the advice on Monday at Odoro Ikpe, Ini Local Government Area, during the distribution of cocoa seedlings to farmers to mark the beginning of the 2024 cocoa planting season.

    She disclosed that the Akwa Ibom Government had made available over 150,000 cocoa seedlings to be distributed to cocoa farmers across the state.

    The commissioner said that the distribution of the cocoa seedlings to farmers signaled a significant step to increased cocoa production and improvement of livelihoods.

    “We know the current price of 1kg of cocoa in the market, it is very expensive. So, it is a wake-up call by Gov. Umo Eno for all to return to the farm.

    “When you receive the cocoa seedlings, make the best use of them. Do well to maintain good agronomic practices, to reap bountiful harvests.

    “This year, we have provided over 150,000 cocoa seedlings to be distributed to cocoa farmers in the state. I implore you to make good use of the seedlings,” Offor said.

    The commissioner called on cocoa farmers to notify extension agents in the ministry early if they were confronted with of any challenge

    In his remarks, the State Chairman, Cocoa Farmers Association of Nigeria, Mr Ekikere Bassey, said it was expedient for agriculture stakeholders to support the cultivation of cocoa to improve the economy of the state.

    He said that cocoa farming was a lucrative agribusiness, and urged farmers to show interest in the cultivation of the cash crop.(NAN)(www.nannews.ng)

    IE/NNO/AZU

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    Edited by Nick Nicholas and Azubuike Okeh

  • NGO trains Kaduna communities on conflict sensitivity, peace building

     

    Conflict
    By Amen Gajira

    Kafanchan (Kaduna) June 24, 2024 (NAN) Global Peace Development (GPD), an NGO has trained members of Dangoma and Goska communities in Jema’a Local Government Area of Kaduna State on conflict sensitivity and peace building.

     

    Mr Ebruke Esike, Executive Director of GPD, while speaking at the training on Monday in Kafanchan, said it was organised with support from International Alert.

    He said that the training was to build the capacity of community leaders and torch bearers to manage and resolve conflicts.

    The News Agency of Nigeria (NAN) reports that relations between the two communities have been strained in recent times.

     

    Esike said that conflict as a natural phenomenon was inevitable and should never result in violence.

     

    “Conflict is inevitable and happens because of the way we perceive things, but ought not to result in violence.

     

    “So, today we will look at the conflict tree, the conflict mapping, the stakeholder analysis and the problem solution tree amongst others,” he said.

     

    He said that the training was crucial and would ensure mitigation and prevention of conflicts in the two communities.

     

    NAN reports that the community members were trained on types, causes and prevention of conflict as well as dialogue and reconciliation amongst others.

     

    The NGO also brokered a peace deal between the two communities after a dialogue at the event, with the peace agreement to be signed at a later date.

     

    Some of the participants –  Amina Musa and Dahilo Yakubu, commended the organisers for the workshop, and pledged to cascade the training to others.

     

    They said that a number of Kaduna communities were increasingly realising the need for peace and to sheath their swords. (NAN)

     

    AMEN/CEO/IU

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    Edited by Chidi Opara / Isaac Ukpoju