ACT
IMF, World Bank advocate flexible fiscal support, debt relief
Against the backdrop of a pandemic impacted global and national economies, the International Monetary Fund (IMF) and World Bank have urged fiscal authorities to execute flexible and supportive fiscal policies to support economic recovery and cushion the long-term impact of the pandemic. In a paper that was titled: ‘Tailoring Government Support’, IMF staff said until the pandemic is brought under control, fiscal policy will have to remain flexible and supportive. It advised governments to prioritize certain policy measures that include targeted support to vulnerable households, investment in health system and more focused support to viable firms, warning that if the pandemic persists, widespread corporate insolvencies could result, destroying millions of jobs, particularly in contact-intens...
Nigeria to benefit as G-20 approves extension of debt relief
Finance ministers of G-20 countries have approved an extension of debt relief for the world’s poorest nations till December 2021. David Malpass, World Bank president, made the announcement at the virtual spring meeting, on Wednesday. TheCable had earlier reported that the G-20 countries will meet this week to consider an extension of the debt freeze. The G-20, is a group of finance ministers and central bank governors from 19 of the world’s largest economies, including those of many developing nations, along with the European Union. G-20 countries had established a debt service suspension initiative (DSSI) which took effect in May 2020. Nigeria had benefited from the initiative which delivered about $5 billion in relief to more than 40 eligible countries. The suspension period which was or...
Gunmen abduct APC caretaker committee chairman in Rivers
The Rivers Chapter of the APC has announced the abduction of Hiasine Wiye, the Caretaker Committee Chairman of APC in Khana Local Government area of the State. He was kidnapped in his residence on on Sunday evening, according to the party in a statement issued in Port Harcourt by its Spokesman, Ogbonna Nwuke. He expressed dismay at the abduction of a grassroots member of the party. The party said the abduction of Wiye without any trace confirmed the claim that even ordinary citizens resident in Rivers State are not safe. “The Caretaker Committee Chairman of the APC in Khana Local Government Area of Rivers State was snatched on Sunday from his home by unknown persons. “We have been briefed that he was taken into captivity at a time when well meaning people were celebrating the resurrection ...
CPN president: Digital technologies efficient in sustaining social, economic development
The President and Chairman of the Council of Computer Professionals (Registration Council of Nigeria), Professor Charles Uwadia, has disclosed that digital technologies have proven to be efficient in sustaining social and economic developments. According to him, during the COVID-19 pandemic, digital technologies played an indispensable role in sustaining social and economic activities. He said though challenges and risks also emerged in the course of embracing various digital innovations but its applicability were proven to be efficient. Uwadia, who spoke at a virtual press conference, to unveil activities lined up for the forthcoming 2020 IT Professionals’ Assembly, with the theme, “Harnessing Digital Technologies for Social and Economic Recovery”, said the assembly which is the 15th edit...
NSCDC warns applicants over fake recruitment message
Nigeria Security and Civil Defence Corps (NSCDC) has warned applicants over fake recruitment examination messages on social media scheduled to take place at undisclosed venues. In a statement by its spokesman, DCC Olusola Odumosu, the Corps said the information is untrue, misleading and fraudulent by scammers in their quest to swindle innocent job seekers. “The Corps wishes to distant itself from this fraudulent and malicious act of some unscrupulous elements in their attempt to hoodwink unsuspecting Nigerians especially the youths into thinking that NSCDC has commenced it’s recruitment process thereby demanding for unsolicited assistance and kickbacks to influence the selection process. “It is instructive to state unequivocally that the maliciously circulated information about NSCDC Recru...
Namibian president caught in new fishing corruption allegations
Informante The president of Namibia has been implicated in new allegations of corruption involving the country’s lucrative fishing industry by an investigation released by the Organized Crime and Corruption Reporting Project (OCCRP) and The Namibian newspaper. According to a lawyer who allegedly arranged the deal, President Hage Geingob instructed his close associates to embezzle millions of dollars from a state-run fishing enterprise in order to bribe electors at the 2017 congress of the ruling SWAPO (South West Africa People’s Organization) party, reports the new investigation released on Friday. The lawyer, who is not named by the OCCRP, claims that Hage Geingob – elected as President of Namibia in 2014 and re-elected in 2019 – allegedly asked James Hatuikulipi, then chairman of the sta...
Niger’s new president blasts terrorists for war crimes
Niger’s new president Mohamed Bazoum lashed out on Friday at jihadists who have carried out devastating attacks on his country, accusing them of “war crimes” after he took the helm of the troubled nation. The inauguration marked the first-ever transition between elected presidents in Niger’s six decades of independence from France — a historic moment that has been widely praised. But the Sahel country’s problems were deeply underscored in the run-up to Friday’s ceremony, after a string of jihadist massacres and an alleged attempted coup just two days before the handover. Bazoum hit out at “terrorist groups whose barbarity has exceeded every limit.” These groups “carry out large-scale massacres of innocent civilians, and in doing so, commit real war crimes,” Bazoum declared. Niger is being ...
Plateau governor installs four traditional rulers
Plateau State governor, Simon Bako Lalong, says traditional rulers need to play a greater role in enhancing the security of their domains and the entire nation. Governor Lalong stated this while installing two second class chiefs in Wase local government area of Plateau State. The monarchs are Chief Lot Nden, Ponzhi Kadarko Chiefdom and Alhaji Muhammad Asi, Aku-Jukun of Mavo Chiefdom. While presenting the staff of office to the two traditional rulers after they took the oath of allegiance, Governor Lalong said the restoration of the two chiefdoms was in fulfilment of his campaign promise and the desire to meet the yearnings of the people in the spirit of equity and justice. He says any community leader or traditional ruler who is unable to assist security agencies towards arresting crimina...
Official: Why CCB denies Nigerians access to public officers’ assets information
The Code of Conduct Bureau (CCB) on Wednesday explained why it denies Nigerians access to the details of the assets declared by public officers. The chair person of the bureau, Muhammad Isah, also disclosed that assets declaration would soon become online-based. Mr Isah, represented by his special assistant, Mustapha Musa, spoke in Lagos at a meeting on ‘Promoting Transparency and Accountability in Asset Declaration by High-Ranking Public Officers’. Newsmen report that the meeting was organised by the Socio-Economic Rights and Accountability Project (SERAP). On access to public officers’ assets information, the CCB chair said the bureau never honoured citizens’ requests for such information because the National Assembly had yet to give the guidelines for such public disclosure. He said the...
Minister tasks NSDC boss on ensuring self-sufficiency in sugar production
Otunba Adeniyi Adebayo, Minister of Industry, Trade and Investment, has tasked the newly appointed Executive Secretary of the National sugar Development Council (NSDC), Zach Adedeji to work towards the realisation of the Federal Government’s goal in ensuring self-sufficiency in sugar production. Speaking at the inauguration of Adedeji as the Chief Executive Officer of the NSDC at the weekend in Abuja, Adebayo said the Federal Government relied on him to work assiduously towards the realisation of the country’s self sufficiency in the sugar production. He noted that the appointment of Adedeji was based on his performance in his former positions, adding that the nation expected him to leave landmark achievements by the time he would be leaving office. “You are therefore expected to discharge...
Commodities trading: SEC issues new rules on warehousing, collateral management
File Photo In a bid to ensure a vibrant commodities trading ecosystem, which would in turn boost foreign exchange earnings for the country, the Securities and Exchange Commission (SEC) has released new rules covering warehousing and collateral management, among others. According to the rules, every warehouse that stores commodities to be traded on a registered exchange shall apply to be registered by the SEC, while the commission shall maintain a register of all registered warehouses to be published on its website. The new rules also provide that any warehouse applying for registration shall submit proof of ownership or registered-lease deed or rent agreement, alongside a disclaimer from the owner of the warehouse/property providing waiver of ownership regarding commodities stored in such ...
EFCC chairman: I will resign If asked to do anything contrary to my conscience
The Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa, has said that he will resign if he’s asked to compromise. This is as he vowed to ensure that corruption in Nigeria is gotten rid of, saying the “rule of law and fear of God shall be his guiding principles.” The EFCC boss said this on Friday, March 26, 2021, when he featured in a Nigerian Television Authority interview programme One-on-One. His words were disclosed in a statement titled ‘We’ll rid Nigeria of corruption – Bawa Vows,’ which was issued on the official Twitter handle of the EFCC. “We need to change our attitudes in Nigeria,” Bawa was quoted to have said. “We are in the habit of worshipping people that have money in the society, but never bother to ask questions about their source of income. In winn...
