African Development Bank
AfDB chief urges Nigerian government to deepen investment in youth
The President, African Development Bank (AFDB), Dr Akinwumi Adesina, has appealed to the Federal Government to deepen investment in youth, to enable them put their entrepreneurial ingenuity to good use. Adesina, who spoke virtually at the 2020 Nigerian Prize for Leadership at the weekend in Abuja, noted that Nigerian youth are plagued by plethora of challenges like unemployment, limited technical and vocational skills, limited inclusion in the socio-political space and lack of finances to develop their businesses. “No nation is perfect. But those who learn from history become greater. Events repeat itself twice when people do not learn. As a nation, Nigeria should do everything possible to invest and reinvest itself by focusing on the youth. “Today, we have 206 million people, 70 per cent ...
CIBN urges banks to strengthen cyber-security
The Chartered Institute of Bankers of Nigeria (CIBN) has urged the banks to strengthen their cyber-security architecture in order to prevent attacks by fraudsters. President/Chairman of Council of the institute, Mr. Bayo Olugbemi, made the call while delivering his remarks at the 2020 CIBN Fellowship Investiture in Lagos, at the weekend. The CIBN at its investiture formally conferred its honorary fellowship awards on 19 distinguished bankers in recognition of their contributions to the banking industry and the economy; 77 associates as elected Fellows while 105 senior management staff of banks and the academia became Honorary Senior Members of the institute at the event with the theme: ‘Financial Services in a post COVID 19 Environment: Strategic Imperative’. Some that were conferred with ...
Plateau government denies taking $359 million loan from AfDB
Plateau State government has denied the allegation of taking $350m African Development Bank, AfDB loan saying such allegation is frivolous as the government only took $11.2 million of which, 70% of the amount is being committed to infrastructure, 20% to capacity building and 10% for project management. A former Minister of Youth and Sports, Solomon Dalung, last Thursday at a webinar discussing why Plateau State lost its relevance at the national stage, accused the Governor, Simon Lalong of non-performance despite taking loans that have no impact on the lives of citizens. Dalung said, “$350 million (N140 billion) was approved for the Plateau State governemnt by the Federal Executive Council for the purpose of the potato value chain. I was a serving Minister at the time, so I was part of tha...
What East Africa could Teach the Continent about Economic Growth
The 21st century is widely touted as the ‘African Century’, a period promising unprecedented economic and technological growth for the continent. Africa’s future looks bright. The continent features five of the ten fastest-growing economies in the world. Its population is the most youthful, with 60% of all African citizens under the age of 25. And the world’s largest free trade area in terms of participating countries, the African Continental Free Trade Area, is now active and expected to boost intra-African trade by as much as 52% by 2022. With Africa’s fortunes continuing to improve, one region stands out as a possible example to the rest of the continent. As the world starts its slow recovery from a year of constant disruption and immense challenges, a closer look at the continued econo...
Embattled AfDB chief survives another probe into his conduct
Embattled President of African Development Bank (AfDB), Dr Adewumi Adesina, has survived a second round of investigation into his conduct, giving him a boost in his re-election bid next month. A team of independent auditors demanded for by the US government said they could not find proof he had engaged in corruption or nepotism as anonymous whistleblowers had alleged. The panel was set up on the insistence of the US to review the report of the Ethics Committee of AfDB, which had earlier cleared Adesina of wrongdoings as alleged by whistleblowers. The unanimous report of the independent panel of three said there had been insufficient evidence to prove the allegations. According to the report, the members of the panel said they “considered the President’s submissions on their face and finds ...
FCTA sets guidelines for operations in agricultural sector
The Agriculture and Rural Development Secretariat of the FCT Administration has reassured farmers of the administration’s commitment to the provision of basic support for farmers toward the attainment of food security in the territory. Malam Zakari Aliyu, Deputy Director Information of the secretariat, in a statement on Friday, said the Acting Secretary of FCTA Agriculture and Rural Development Secretariat, Mr Ibe Chukwuemeka, gave the assurance when he issued the Safety Protocols for Agricultural activities in the FCT. The secretary explained that the operational guidelines covers five key sectors which includes abattoir and slaughter slabs, Veterinary Clinics, Livestock Markets, Fish processing Facilities and agric Extension Services. He said that the administration would ensure strict s...
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