Lending to Governments: SGF urges banks to follow FRA rules

The Secretary to the Government of the Federation (SGF), Sen. George Akume has called on banks to follow provisions of the Fiscal Responsibility Act (FRA) when lending to Governments in the Federation and their institutions.

A statement by Bede Anyanwu, Head of Strategic Communications at the Fiscal Responsibility Commission (FRC) said Akume made the call in a keynote address at a Stakeholder Dialogue on Saturday in Lagos.

He said dialogue was aimed at promoting fiscal discipline.

Akume was represented by a staff in the SGF`s Office, Dr. David Eze.

The SGF affirmed that following the rule was to ensure that borrowing was done the right way for the right reasons to improve fiscal sustainability.

He encouraged all stakeholders to commit to more prudent management of public finances to achieve desired outcomes.

The Executive Chairman of the FRC, Victor Muruako equally called on all Nigerian banks to adhere to the provisions of the FRA 2007 in their lending practices to government and its agencies.

“The Fiscal Responsibility Act 2007 is Nigeria’s foremost legal framework for the promotion, monitoring and enforcement of fiscal discipline.

“It stipulates in Section 45(2), that lending by banks to governments or their agencies in contravention of the provisions of the Act shall be unlawful.

“PART X of the act provides guidelines for borrowing by government agencies and public institutions, including the requirement for obtaining the necessary approvals and proof of compliance to ensure the sustainability of loans.

“Recognising the critical role that loans play in driving socio-economic development, the FRC brought banks together with regulators, policy makers and government in the Stakeholder Dialogue to highlight the provisions of the FRA on responsible lending.

“Discussions focused on measures to enhance compliance to improve the nation’s debt management practices,” the statement said.

The FRC boss emphasized the importance of compliance with the FRA to improve loan performance, to maintain macro-economic stability.

“We are committed to good corporate governance, fiscal stability and the pursuit of economic development to improve the lives of citizens while improving our nation’s viability.

“We, therefore, enjoin all stakeholders to support the bold macroeconomic reform initiatives of the administration of President Bola Ahmed Tinubu by ensuring more fiscal discipline in line with the provisions of the FiscalResponsibility Act 2007 (FRA) .”

The chairman said that the provisions of the FRA serve to keep the lender, borrower, regulator, evaluator, assessor, and indeed the beneficiary of public sector loans on the same page.

Mr. Greg Jobome, Executive Director, Risk Management Division, Access Bank who responded on behalf of the banks. Said they will continue to work together with stakeholders to foster responsible lending practices, transparency, and accountability.

The FRC Stakeholder Dialogue brought together a diverse group of participants including banking Institutions, government representatives, economists, academics and experts in fiscal governance.

Source: News Agency of Nigeria

Minister charges college on knowledge-based armed forces

The Minister of State for Defence, Dr Muhammed Matawalle, has charged the National Defence College (NDC), to develop a curriculum to aid in producing knowledge-based Armed Forces.

Matawalle gave the charge as a Special Guest of Honour at the inauguration of the Course 32 of the NDC in Abuja on Saturday.

This is contained in a statement by Mr Hope Attari, Acting Director of Press and Public Relations of the ministry.

Matawalle, while addressing participants, said the Federal Government would not relent in building a resilient Armed Forces in the face of unpredictable economic and environmental conditions.

He said this would be in response to risk that might threaten national security, economic prosperity and societal wellbeing.

The minister reiterated the President Bola Tinubu’s commitment to combat corruption and improve the economy of Nigeria.

Meanwhile, the Guest Speaker, Dr Ibrahim Kana, Permanent Secretary, Ministry of Defence, noted that Nigeria was blessed with people born with talents and capacities to produce and develop.

On the topic “Strengthening national unity for security and development in Nigeria”, Kana said there might be challenges today, but assured that the country would soon take its rightful place.

“I assure you that Nigeria will soon take its rightful place because of the realisation of the importance of human capital development,” he said.

Earlier Rear Admiral Olumuyiwa Olotu, Commandant, NDC, expressed appreciation to the Federal Government for the support to the college.

Olotu urged the participants to use the opportunity to prepare for higher responsibilities as well as establish strong bond of friendship.

“It is worthy to note that 108 members participated at this year Course 32, and out of that figure, we had total number of 15 foreign participants,” he said.

Source: News Agency of Nigeria

Angola defeated in COSAFA Cup

Angola national senior women’s team were defeated Sunday 1-3 by Zambia in the second round of group B of the COSAFA Cup played at Dobsonville stadium, Pretoria, South Africa.

Zambia had a 2-0 lead at the end of the first half, with goals scored by Jere (3′) and NKole (20′).

At minute 85, Jere found the back of the net once again to increase the lead (3-0),Luvunga reduced the score for the Angolans at minute 90+1(1-3).

The Angola national team dropped to second place in group B with three points.

The group is led by Zambia with four points, while Mozambique are in third place with one point and Comoros Islands at the bottom of the table with no points

Source: Angola Press News Agency

Senegal maintains ban on TikTok: Communications Minister

Senegal’s government has maintained a ban it imposed on the social media app TikTok in August.

Authorities had banned the app on accusations that it was “the preferred network for malicious people to broadcast hateful and subversive messages that threaten the country’s stability”.

Senegal’s Communications Minister Moussa Bocar Thiam said that TikTok will only be reinstated if the company signs an agreement to allow the removal of accounts that promote what he described as inflammatory content.

“For the time being, the restriction is being maintained pending the conclusion of a comprehensive written agreement,” Thiam said, following discussions with representatives of the company.

The TikTok ban followed the arrest of opposition leader Ousmane Sonko.

Authorities claimed that the app was being used to spread “hateful and subversive messages” that threatened the country’s stability as violent protests broke out in the wake of Sonko’s arrest.

The government has also demanded TikTok to agree to provide fair compensation to its Senegalese content creators in order to be reinstated

Source: Nam News Network

Angola attends UNHCR Executive Committee meeting

Angola takes part in the 74th session of the Executive Committee of the High Commissioner’s Programme (ExCom) of the United Nations High Commissioner for Refugees (UNHCR) taking place on October 9-13 in Geneva, Switzerland, ANGOP has learnt.

According to a press release, Angola attends the event with a delegation led by the Secretary of State for Foreign Affairs, Esmeralda Mendonça, that includes Ambassador Margarida Izata, representative of the Permanent Mission to the UN in Geneva, diplomats from the Permanent Mission and humanitarian specialists of the Ministry of Foreign Affairs and the Ministry of Interior.

Angola takes part in this event for the first time as a member state, following its election on April 5 2023 in New York as the 108th member of the ExCom.

Angola will take part in the general debate, which is expected to focus on regional and global issues on the challenges of migration, as well as the country’s multi-annual voluntary financial contribution to the UN agency.

Alongside the programme for the 74th session of the UNHCR, the Angolan delegation has several meetings on the agenda.

The delegation is expected to meet with Raouf Mazou, the UNHCR’s Deputy High Commissioner for Operations, the ambassador of the United States of America, the Minister of Foreign Affairs, Cooperation and Communities of the Democratic Republic of Sao Tome and Principe, Gareth Guadalupe, among others.

The ExCom is a subsidiary body of the United Nations General Assembly that came into operation on January 1, 1959.

Source: Angola Press News Agency

Troops eliminate 31 terrorists, apprehend 81 in 1 week – DHQ

The Defence Headquarters says troops of the armed forces have in the last one week neutralised 31 terrorists and apprehended 81 others in various operations across North East, North Central and North West.

The Director, Defence Media Operations, Maj.-Gen. Edward Buba, said this in a statement on Sunday in Abuja.

Buba said the troops also rescued 10 kidnapped hostages, while a total of 63 Boko Haram/ISWAP terrorists and their families surrendered to troop across theaters of operation.

In the North East, he said the troops of Operation HADIN KAI conducted fighting patrols to Bama and Chibok local government areas of Borno, as well as Gujba Local Government Area of Yobe.

Buba said the troops also recovered 12 AK47 rifles, two locally fabricated rifles, three dane guns, 181 rounds of 7.62mm special ammo, four magazines, three motorcycles, among other items.

He added that the troops neutralised 13 terrorists, arrested 12 and rescued five kidnapped persons.

In the North Central, he said the troops of Operation Safe Haven arrested five suspects, recovered arms and ammunition, as well as 145 rustled cows during the week.

He said troops of Operation Whirl Stroke had On Oct. 1, arrested two IPOB/ESN criminals in Katsina-Ala Local Government Area of Benue while on patrol.

He stated that the criminals were arrested at the residence of a top herbalist, while the herbalist fled.

He added that “troops recovered one body armour and bullet proof vests.

“Overall, troops arrested three suspects and recovered two locally fabricated rifles, 10 rounds of 7.62mm special ammo, five cutlasses, one body armour, one bullet proof vest and a jack-knife.”

In North West, Buba said troops of Operation Hadarin Daji neutralised six terrorists, arrested 12 and rescued 33 kidnapped persons.

He said the troops also recovered four AK47 rifles, two dane guns, 35 rounds of 7.62mm special ammo, three motorcycles, fuve mobile phones, one cutlass and five solar panels.

Troops of Operation Whirl Punch also eliminated one terrorist and recovered three AK47 rifles, one AK47 magazine loaded with five rounds of 7.62 mm Special ammo, 32 rounds of 7.62mm special, 10 rounds of 7.62 x 39mm war heads, one cutlass, amongst other items.

He stated that the armed forces and citizens are partners in combating common enemy, which are the terrorists and violent extremist groups.

“Accordingly, the military, through its operations, continues to prevail against the effects of insurgency and terrorism with an ultimate goal of securing the country against perpetrators of insecurity for national progress,” he said.

Source: News Agency of Nigeria

Ex-lawmaker seeks more sustainable approach to end poverty, insecurity

A former member, House of Representatives, Robinson Uwak, has called for a more sustainable approach to tackle the increasing rate of poverty and insecurity in the country.

Uwak, in a statement on Sunday in Abuja, said the level of poverty and gross inequality in the country was a threat to national security, stability and unity.

He identified poor data gathering and implementation as some of the reasons poverty alleviation programmes had failed in Nigeria.

“Poverty alleviation ought to be treated as a development policy, not a charity project. This is why the programmes are not only ineffective but unsustainable,” he said.

The ex-lawmaker, however, commended President Bola Tinubu for the equitable distribution of resources amidst the dwindling revenue of the government.

He expressed concern over the poor standard of living, huge unemployment, low wages in the country and called for collective action to tackle the menace.

The News Agency of Nigeria (NAN) recalls that the World Poverty Clock 2023 Data reported that about 71 million Nigerians were extremely poor and the National Bureau of Statistics classified 133 million people as multidimensionaliy poor.

Source: News Agency of Nigeria

Be good ambassadors by supporting FG policies, cleric tells youths

Prophet Timothy Arabambi, the General Overseer of Christ Apostolic Church (CAC), Reformation Land, Olunloyo, Ibadan, has admonished Nigerian youths to be good ambassadors by supporting Federal Government policies.

The cleric made the call in his sermon at the youth wing celebrations on Sunday.

Arabambi, particularly admonished the youth in the house of the Lord to be closer to God and be good ambassadors of Christ at all times.

According to him, God is the only way to salvation, peace and unity in life, adding that there was no way one can be successful without Jesus Christ.

He stressed that since President Bola Tinubu assumed office, social vices hindering progress of the country had reduced to the barest.

The cleric, who commended the youth for ensuring endurable peace, urged them to join him in prayers and supplication to God as a panacea to peace, growth and development.

He urged the youth to use themselves as platform for the propagation of government’s agenda, while he implored them further to exhibit unity and cooperation among themselves, saying by doing so, the sky is their starting point.

According to him, no country, in spite of its capacity for sciences and technologies, can excel if there is no peace in the land.

“There is need for the youth to partner with the Federal Government to ensure there is peace in the country.”

“We should be closer as never before, irrespective of our culture, tradition and other barriers, in order to continue to make the country a land of peace and honey,” he stressed.

Speaking further, the cleric appealed to the youth to always be good ambassadors of Jesus Christ, our lord and personal saviour and pray for the success of President Tinubu-led administration.

The prophet said that the on-going economic recession would soon be over, adding that what Nigerians needed now was to be fervent in prayers to God to redeem this great nation from the hands of both internal and external aggressors.

Source: News Agency of Nigeria

COP28 President-designate calls for availability of ‘loss and damage’ fund

Dr Sultan Al Jaber, COP28 President-Designate and UAE’s Special Envoy for Climate Change has underscored the need to make the ‘loss and damage’ fund for most vulnerable nations a reality.

The ‘loss and damage’ fund was agreed at COP27 summit in Egypt to support developing nations deal with the negative consequences of climate change such as flooding, desertification and extreme heat waves.

Al Jaber made the call on Sunday at the opening plenary of the 2023 Middle East and North Africa (MENA) Climate Week in Riyadh, Saudi Arabia.

He said as the world gears up for the UN Climate Change Conference (COP28) in Dubai, UAE slated for Nov. 30- Dec.12, all hands must be on deck to deliver transformational climate outcomes.

“A critical pillar of the COP28 agenda is focused on people, lives, and livelihoods.

“We must make the fund for the loss and damage that was promised in Sharm El-Sheikh a reality in Dubai,” he said.

Al Jaber who is also UAE’s Minister of Industry and Advanced Technology stressed the need for a holistic and collective effort to address climate change and it’s effects on the environment.

“Let us rise above the noise. Climate change does not recognise political divisions or national boundaries. It affects everyone, everywhere. Let us respect the signs,” he added.

The News Agency of Nigeria (NAN) reports that at the COP27 summit in Sharm El Sheik, Egypt, nearly 200 countries agreed on an historic breakthrough to set up a “loss and damage” fund.

The fund is meant to support poorer countries being ravaged by climate impacts, overcoming decades of resistance from wealthy nations whose historic emissions have fuelled climate change.

The agreement lays out a roadmap for future decision-making, with recommendations to be made at COP28 for decisions including who would oversee the fund, how the money would be dispersed and to whom.

NAN reports that the 2023 UN Climate Change Conference will convene from Nov. 30 to Dec. 12 in Dubai, United Arab Emirates (UAE).

Top on the agenda is Fast-tracking the energy transition and slashing emissions before 2030; Transforming climate finance, by delivering on old promises and setting the framework for a new deal on finance; Putting nature, people, lives, and livelihoods at the heart of climate action; and. Mobilizing for the most inclusive COP ever.

Source: News Agency of Nigeria

Food Security: Delta keys into accelerate agricultural development scheme

Delta Government says it has keyed into Accelerated Agricultural Development Scheme (AADS) to ensure food security and sufficiency and to create jobs for its teaming youths.

The State Commissioner for Agriculture and Natural Resources, Mr Perez Omoun, stated this when he paid unscheduled visit to Mbiri Farm Settlement in Ika North East Local Government Area of the state to inspect ongoing projects

The commissioner inspected the newly installed water borehole project to aid the greenhouse project.

Omoun also inspected the construction work on the hostels for participants (Allottees) of the greenhouse and another borehole projects for aquaculture at the farm settlement.

He said that planting in the greenhouses would begin at the end of October, adding that the first harvest would be expected by January, 2024.

The commissioner said that in order to achieve the set goal that the greenhouses had been allotted.

He said that accommodation for the allottees had been improvised pending the completion of the ongoing constriction work on the hostels accommodation.

He said that the state governor was committed to agriculture and food production, adding that no fewer than 30 youths have been allotted a greenhouse each at Mbiri farm settlement to ensure food security and sufficiency, jobs and wealth creation in the state.

According to Omoun, planting in the greenhouse is billed to commence end of October now that the water problem have been solved with sinking of a borehole.

“With the completion of the borehole it will enable free flow of water supply for all year round food production.”

He said that the project was in line with the Gov. Sheriff Oborevwori’s M.O.R.E Agenda which opportunity for all.

He said that the engagement of youths through agriculture, there would be a sustained peace and security in the state.

“This is my third visit to this Mbiri farm settlement since I became commissioner.

“It is an all important initiative, the first borehole has been developed to provided water for the greenhouses.

“Another borehole is to provide water for the aquaculture that will be developed at the other side of the farm settlement.

“There, is a hostel for the participants that would be allotted the greenhouses and they that will be doing farming at the settlement will be accommodated too.

“Delta will serve her quota of food security to lift people out of poverty, to create jobs and opportunity for all even as we begins to export food produced from Mbiri farm settlement,” the commissioner said.

He noted that the land area at the farm settlement was fertile and could be used for multiple agricultural purpose.

The commissioner was accompanied by the Permanent Secretary in the ministry, Mr Ben Agamah.

Source: News Agency of Nigeria