CBN, banks plan fresh N60bn disbursement to boost economy

…Emefiele redeploys DGs

From Uche Usim, Abuja

The Central Bank of Nigeria (CBN) and the Deposit Money Banks (DMBs) may be fine-tuning plans to disburse N60 billion, being 5 per cent of their profit to buoy various developmental initiatives of the Federal Government.

This was as the CBN Governor, Mr. Godwin Emefiele, at the weekend rejigged portfolios of Deputy Governors of the apex bank with Aisha Ahmad taking over the Financial System Stability (FSS) Directorate from Dr. Joseph Nnanna Okwu, who now moves to the Economic Policy Directorate. Mr. Edward Lemetek Adamu, has been assigned the portfolio of Deputy Governor, Corporate Services, while Mr. Adebayo Adelabu retains his portfolio as Deputy Governor, Operations Directorate.

Speaking at an award ceremony in Lagos at the weekend, Emefiele said the DMB’s 6 per cent contribution will soon hit the N60 billion mark, noting that the money will help address the plight of the vulnerable sectors in Nigeria that are in dire need of…

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Oilserv signs 200km Lot 1 AKK gas transmission contract with NNPC

…As JP Morgan admits knowing ex-Minister linked to $800m Malabu transfer

Indigenous Engineering, Procurement and Construction (EPC) Company, Oilserv Limited, has sealed a two-year contract with the Nigerian National Petroleum Corporation (NNPC) for the Ajaokuta Kaduna Kano (AKK) gas pipeline project after a rigorous bidding process. 

The 614km x 40-inch gas pipeline, which spans from Ajaokuta in Kogi State to Kano through the Federal Capital Territory, Abuja, will have Oilserv/Oando Consortium handling the Lot 1 section, a 200km stretch from Ajaokuta to Abuja. 

The contract was consummated on April 5 at the NNPC Towers in Abuja between Oilserv/Oando Consortium represented by the Chairman/Group CEO, Emeka Okwuosa, and the Managing Director, Gbite Falade, and the NNPC team led by the Group Managing Director, Maikanti Baru.

Okwuosa expressed delight at the signing saying, “this is indeed a landmark achievement in Nigeria and the project, which is part of the Nigerian Gas…

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Osinbajo to visit Onitsha for MSME Business Clinic

The Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo, will visit the commercial city of Onitsha on Thursday this week for a two-day Anambra MSME Clinic, which starts on Wednesday, April 11, 2018.

The event, which will hold at the All Saints Cathedral, Onitsha, will feature two segments of activities – open exhibitions by MSMEs and a business clinic where participating MSME operators in Anambra State will be exposed to important new approaches for survival and growth.

The two-day event is designed as a part of the Economic Recovery and Growth Plan (ERGP) by the Federal Government, which is targeted at driving the nation’s economy out of recession and breaking the stranglehold of oil on the economy.

Central to the initiative is the need to create an enabling environment for all critical stakeholders to interact with each other to enable relevant federal agencies interface with MSME operators and proffer on-the-spot solutions to problems affecting MSMEs.

The…

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We’ve eliminated upland, riverine dichotomy –Wike

• Reaffirms commitment to peace

Tony John, Port Harcourt

Rivers State Governor Nyesom Wike, has identified the elimination of the upland/riverine dichotomy as one of the greatest achievements of his administrations. 

Speaking during an interview with the organisers of Zik Leadership Prize Award, Wike said his administration has been able to promote unity for the overall development of the state. 

“First of all, you remember that the founding fathers of this state maintained that Rivers State should be seen as a land of opportunity, where people will have to achieve their potential in life. Before, in this state, all you would see or hear was tribalism; that you are from the upland or the riverine and, so, people were not doing things as if we were one Rivers.  

“So, we believe that, one way we must achieve, if we see ourselves as one, and once that is done, then, we have moved to the next step. So, today, our concern is that issue of upland/riverine is no longer…

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Oshiomhole to FG: Be more ruthless with looters

•You’re desperate, PDP tells ex-Edo gov

Former governor of Edo State, Adams Oshiomhole, has called on the Federal Government to be “ruthless” against alleged looters of the nation’s treasury.

Oshiomhole said this to the News Agency of Nigeria in Benin, yesterday, where he described as mindless, the stealing by then Peoples Democratic Party (PDP)-led federal government.

He said it is the right of Nigerians to know the level of rot that transpired in former president Goodluck Jonathan’s government.

“I think if other Nigerians don’t understand the power of transparency, the right to know, the media should uphold that right and defend it. What was stolen was not from private purse; the house that was destroyed was not a private residence. We are talking of resources, which, if it is distributed on the basis of equality, divide by 180 million people, you will be a lot richer.

“I think my only complaint is that the federal government should be more ruthless because…

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Nigerian govt. pays $5.08m UN dues for 2018

Nigeria has paid its regular UN dues for 2018, making it the 74th out of the 193 Member States of the global international organisation to fulfill its financial obligations. Spokesperson for the UN Secretary-General Stephane Dujarric said in New York that Nigeria paid its annual dues in full. Dujarric said: “Nigeria has paid its regular …

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