AUGUST 18th, 2017
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GOVT INAUGURATES PANEL FOR €54M EU N’EAST SUPPORT – PAGE 30
The Minister of State for Budget and National Planning, Zainab Ahmed, has inaugurated members of Project Steering Committee for the European Union Assisted Project targeted at supporting the intervention programmes in the North East.
The project, which is being funded by the EU and the German Economic Cooperation and Development, has the overall objective of contributing to the stabilisation of the troubled North-East region through strengthening the resilience of Internally Displaced Persons, host communities, returning refugees and the local population affected by insurgency.
The Minister said the project, which would be executed for a period of 48 months, had a total financial allocation of €54.5m, with the EU contributing €37.0m, while the German government through the Ministry of Cooperation and Development, would offer €17.5m.
Vanguard Newspapaer - North East: FG inaugurates committee for €54.5m support project
Daily Trust Newspaper - Nigeria inaugurates committee for €54.5m North East support project
New Telegraph Newspaper - North East: FG inaugurates committee for €54.5m support project
Nigerian Pilot Newspaper – Page 38 – FG Inaugurates Committee For €54.5m Support Project
FG SETS UP N15BN FUND FOR NIGER DELTA – PAGE 15
The Federal Government has set up N15bn industrial reactivation fund in the Niger Delta partnership with the private sector.
The Minister of Niger Delta, Pastor Usani Uguru, disclosed this on Thursday in a statement by the ministry’s Director of Press, Marshal Gundu.
He said the N15bn facility was made available through the Bank of Agriculture, Bank of Industry, Nigeria Export-Import Bank and New Partnership for Africa’s Development.
TSA: FG BEGINS AUDIT OF BANKS’ REMITTANCES TO CBN – PAGE 25
The Federal Government has commenced an independent audit of remittances of its funds into the Treasury Single Account by Deposit Money Banks.
The TSA is a platform used by the government to unify all its accounts by ensuring that all funds belonging to the Federal Government are kept with the Central Bank of Nigeria.
The initiative, which began fully in September 2015, has been complied with by over 900 agencies of the government with 20,000 bank accounts closed while over N5tn has been moved from banks to the CBN.
TSA: FG invests N300bn unclaimed funds in treasury bills
Daily Sun Newspaper– Page 2 - FG saves N4.7bn monthly with TSA, says AGF
N200BN AGRIC LOAN: CBN ORDERS BENEFICIARIES TO INSURE PROJECTS WITH NAIC – PAGE 19
The Central Bank of Nigeria (CBN) has ordered beneficiaries of the N200 billion Commercial Agricultural Credit Scheme (CACS) to henceforth obtain insurance cover for their projects from the Nigeria Agricultural Insurance Company (NAIC). The order followed the release of the amended guidelines for the CACS in a circular signed by the Director, Financial Policy and Regulation Department, CBN, Mr. Kelvin Amugo. Entitled: “Amendment to the CACS Guidelines”, the circular stated: “The CBN has reviewed the guidelines for CACS, to enhance its effectiveness and further mitigate the risks faced by participating financial institutions in financing the agricultural sector.
FG SELECTS TWO INVESTORS TO BUILD 217,000BPD REFINERIES IN PH, WARRI – PAGE 9
· To provide financial support to modular refineries
The federal government has stated that two private Nigerian firms have been selected to build 217,000 barrels per day refineries in Port Harcourt and Warri under the co-location concept initiated by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu.
Modalities are also being worked out by the federal government to offer financial support to operators who were licensed to build modular refineries in the country.
Kachikwu had initiated the concept of co-location of refineries to ensure that new refineries are set up to share infrastructure with Nigeria’s existing refineries in Kaduna, Port Harcourt and Warri, to boost domestic petroleum products refining capacity.
‘NIGERIAN MARKET IS POISED FOR EXPLOSIVE GROWTH’ – PAGE 32
Over 15 years ago, Kirusa, which is today, reckoned as one of the leading mobile social media and value added service providers in the world, was established with the aim to transform people’s experiences with their mobile phones. With its range of mobile services, Kirusa is helping people in the evolving markets take full advantage of the value they derive from their cell phones. The company’s Chairman and Chief Executive Officer, Dr. Inderpal Singh Mumick, a serial entrepreneur, in this interview with Mary Ekah, talks about the company’s strength, challenges and what has kept it on top of its game over the years
MANAGING HUMANITARIAN CRISIS IN NORTHEAST – PAGE 34
Rebuilding the North-eastern parts of the country devasted by insurgency as well as giving the people whose lives were shattered by qunatum destruction of their means of livelihood is a huge task, writes TIAMIYU AROBANI
From May 23 to May 24, hundreds of countries, companies and philanthropists will converge on Istanbul, Turkey, for the first-ever World Humanitarian Summit. The summit has been widely described as an unprecedented effort aimed at revamping humanitarian aid and global responses to modern-day crises and finding practical solutions to the global humanitarian challenges.
UN Secretary-General Ban Ki-moon said that the summit was convened as part of efforts to tackle what he described as “the worst humanitarian crisis since World War II’’. He said that the summit must usher in new era of global solidarity, adding that its main goal was to reaffirm the society’s commitment to humanity and humanitarian principles.
“We must not fail the people who need us, particularly when they need us most. First, the best way to achieve a bold and courageous change is to make sure that leaders are there to deliver it. History will judge us by how we use this moment,” Ban said, while urging countries to come to Istanbul and show leadership in the nascent efforts to tackle the great challenges of humanitarian crisis.
FG HIRES FOREIGN AUDIT FIRMS TO RECOVER MONIES IN BANKS – PAGE 43
…Accuses INEC of withholding unspent funds
The Federal Government has engaged the services of some international audit firms, including Ernst & Young and PriceWaterhouse Coopers, to reconcile and recover public funds illegally withheld by banks.
Disclosing this in Abuja, Director (Funds), Office of the Accountant General of the Federation, (OAGF) Hamza Adeyemi, said that the resort to hiring the audit firms followed the continued refusal of the affected banks to return government funds in their possession despite the Central Bank of Nigeria, (CBN) sanctions debiting the accounts of the banks.
According to the director, since 2004, the Federal Government has lost over N70 billion funds in the possession of various commercial banks.
OBASANJO: ASUU STAMPEDED GOVT INTO 2009 AGREEMENT – PAGES 6 & 9
Former President Olusegun Obasanjo yesterday said university lecturers stampeded the government into signing the 2009 agreement which has been a source of incessant strikes by the teachers.
The Academic Staff Union of Universities (ASUU) is currently on strike over the failure of the government to implement the agreement.
Speaking at a book presentation yesterday at the University of Ibadan, he said the government allowed itself to be pushed into signing agreement without full consultation within government.
However, he added that regardless of that, the government was bound to implement whatever agreement reached with workers’ unions.
GOVT AGREES TO PAY VARSITY TEACHERS N23B ALLOWANCES – PAGE 1 & 6
University teachers won a major battle yesterday.
The Federal Government granted their request that their N23billion outstanding Earned Allowances be released.
The money will be released next week, Minister of Education Adamu Adamu said.
The government said the Nigerian Universities Pension Management Company matter would be resolved with the Pension Commission in the next one week.
But he reiterated the refusal of the governemt to exempt the federal universities from the Treasury Single Account (TSA) system
Adamu gave an insight into the negotiation with the Academic Staff Union of Universities (ASUU) during a meeting with the Senate Committee on Tertiary Education and the Tertiary Education Fund (TETFUND).
The minister said the Ministry of Finance had promised to undertake a forensic audit of the N30billion allowance earlier released to the lecturers, bringing the total to N53billion.
Ben Bem Goong
Dep. Director (Information)