Cloned Nigerian Anchor

Author: Chike Ozohili

DMO bags 3 EMEA awards, recommits to innovative debt strategies

Nigeria’s Debt Management Office (DMO), has renewed its commitment to continue delivering innovative and comprehensive debt management strategies.

In a statement signed by DMO’s Director-General Patience Oniha on Friday, the agency’s commitment to the fulfillment of its mandate has placed it on solid footing in the EMEA region and beyond.

The DMO received three prestigious EMEA (Europe, Middle East and Africa) Finance Achievement Awards recently in London.

While commending EMEA Finance for recognizing the work it was doing, she said the Office’s success has been down to its commitment to provide tailored debt management solutions to Nigeria.

“As the DMO celebrates these remarkable achievements, it renews its commitment to continue delivering innovative and comprehensive debt management strategies, further solidifying its standing in the EMEA region and beyond,” she said.

She said the awards are a recognition of DMO’s unwavering commitment to implementing effective debt management strategies in the emerging markets region encompassing EMEA.

“The awards, bestowed by EMEA Finance, which is renowned in the emerging markets, highlight the outstanding performance of DMO in managing debt and optimising financial resources across diverse markets.

“The accolades serve as a validation of the DMO’s tireless efforts in providing innovative solutions to meet the challenges of debt management in the ever-evolving economic climate.

“Receiving these accolades mark a significant milestone for DMO, as it solidifies its position as a leading player in the field of debt management within the EMEA region,” she said.

The three awards include: “Best Sovereign Borrower”; “Best Sovereign Bond in EMEA”; and “Best Local Currency Bond in EMEA’’.

06/09/2023
We’re not currently recruiting, NBS insists

The National Bureau of Statistics (NBS) has said that it is not currently recruiting.

In a statement signed by its management, and posted on its website, the statistics bureau said the online publication purporting that it was recruiting was a ploy to mislead Nigerian job seekers.

“The attention of the Management of National Bureau of Statistics has been drawn to an online publication titled “NBS Recruitment 2023/2024 Job Application Form Portal” and hosted on https://recruitmentfile.net/nbs-recruitment/, purporting that the Bureau will soon commence recruitment exercise, and advising prospective candidates on the process for the recruitment.

“The general public may wish to note that the publication did not emanate from the Bureau and that the content seeks to mislead unsuspecting jobseekers. It has therefore become imperative to refute the information.

“For the avoidance of doubt, the Bureau would like to emphasize unequivocally that it is not currently recruiting.

“The general public is strongly advised to be wary of any such job offer, particularly one obtained online, and to report such offers to the appropriate law enforcement organizations without delay,” the statement read.

06/09/2023
Exclusive: Tinubu may appoint Kwankwaso as FCT Minister

File photo of President Bola Ahmed Tinubu (left), Bisi Akande and Rabiu Kwankwaso

Speculations are rife among some privileged insiders that President Bola Ahmed Tinubu may assign the FCT Ministerial portfolio to former Governor of Kano State and NNPP Presidential candidate in the 2023 elections, Engr. Rabiu Musa Kwankwaso.

Kwankwaso, who was a former Minister of Defense, is favoured to clinch the MFCT portfolio because of his vast experience in governance and what some observers are referring to as President Tinubu’s desire to partner with a northern politician who has a strong political clout.

According to sources, former Governor Kwankwaso’s political grip on Kano, Northern Nigeria’s commercial nerve centre and its huge electoral population will help the President stabilize his administration.

A reliable source who spoke to NIGERIAN ANCHOR on the condition of anonymity, alluded to the recent meeting in Paris, France on May 15, 2023 between President Tinubu and Kwankwaso.

The meeting was brokered by Tinubu’s pioneer campaign coordinator, Hon. Abdulmumin Jibrin, who also later joined Kwankwaso’s New Nigeria Peoples Party (NNPP).

Even though discussions were inconclusive at the meeting, it was in furtherance of the President’s desire to form a government of National Unity.

Amongst other subjects that featured at the meeting were the need to reconcile former Governors Abdullahi Ganduje and his former boss, Kwankwaso. It was also reported that Dr. Kwankwaso’s inclusion in the cabinet of President Tinubu was a high possibility, based on the outcome of their series of discussions at the meetings.

Rabi’u Musa Kwankwaso, who holds fellowships of the Nigerian Institute of Engineers and Institute of Quantity Surveyors, was elected governor of Kano State between 1999 and 2003 as well as 2011 and 2015 under the Peoples Democratic Party (PDP).
He also served as Minister of Defense between 2003 and 2007.

He resigned his membership of PDP prior to the 2023 general elections to form the NNPP under which party he contested the election as its presidential flagbearer, coming fourth behind Bola Ahmad Tinubu, Atiku Abubakar and Peter Obi.

Many see the likely choice of Mr. Kwankwaso as the Minister of the Ministry of the Federal Capital Territory (MFCT), not only as fitting a square peg into a square hole, but a befitting political masterstroke that may bode well for the good fortune of the ruling All Progressives Congress (APC) whose former President Muhammad Buhari never got winning votes in the FCT during his second term bid.

His bad electoral fortune also spilled over to the presidential election in last February 25 as the APC also did poorly.

Mr. Kwankwaso’s good run as governor of Kano state between 2011 and 2015 may also be a contributory factor in the speculation that favours him as possible Minister of the FCT.

During that period, he was well reputed for massive infrastructural development and huge investment in the education of indigenes of Kano state.

Abuja, the nation’s Federal Capital is currently in dire need of such massive infrastructural development following the abysmal performance of the outgone Minister of FCT in that regard.

In the past eight years of his being on the saddle as Minister of the FCT, Alhaji Muhammad Bello never completed any major infrastructural project in the form of a major highway, numerous interchanges awaiting completion or opening up of new layouts.

During Mr. Bello’s eight years’ tenure, uncleared refuse took over most parts of the city. Herds of cattle were allowed to roam freely in the Abuja city centre, while scavengers plundered the city highways and streets of road decorations and drainage covers were molested.

Hitherto, green areas have been re-allocated and built up while street vendors and other artisans litter the city, making a mess of the efforts of previous administrations to maintain Abuja as the pride of Nigeria.

06/09/2023
NASS Leadership: NGF endorses APC zoning arrangement

The Nigeria Governors Forum (NGF) has endorsed the zoning arrangement of the All Progressives Congress (APC) for the election of the presiding officers of the 10th National Assembly.

Governor Dapo Abiodun of Ogun said this in a statement by Rep. Tajudeen Abbas Campaign Team in Abuja after receiving a delegation of the Joint Task-10th Assembly.
Abiodun said that he and his colleagues took the decision after an interactive session with President Bola Tinubu in Abuja.

He said that during the meeting, Tinubu sought the support of the governors for the APC candidates to make the election easier for them.
“It is within the right of the President to seek those that will make his job easier. He has decided in collaboration with the party that these are the people that he wants to work with.

“All of us across party lines keyed into what the President told us. We had our meeting after meeting him and decided that we should support the President,” Abiodun said.

06/08/2023
ExxonMobil pledges to sustain oil, gas production

ExxonMobil Corporation Chief Executive Officer, Darren Woods has said the company is investing in new technology to reduce carbon emissions.

Woods, however, said the company would continue to produce oil and gas to meet market demand.

European leaders looking to tackle climate change should look to U.S. policy and “let the market work” to avoid driving companies away with prescriptive regulations.

“I think it’s a huge mistake to be picking winners and losers and focusing on specific technologies,” Woods told the CEO of Norway’s Wealth Fund, Nicolai Tangen, on his podcast. “Instead, we should be looking more broadly at letting the markets figure out which solutions provide the most emissions reductions for the lowest cost.”

Europe has been working with a greater sense of urgency since the Biden administration last year passed its Inflation Reduction Act, with $370 billion in tax subsidies to cut carbon emissions.

The package is turbo-charging interest in carbon capture and storage technologies, which for years have been considered too expensive and prone to failure. Exxon, which has pledged to spend $17 billion through 2027 on low-carbon initiatives, is among the companies ramping up plans to capture emissions.

“Carbon capture is going to play a really important role. It is a technology that exists today. It’s one that we have a lot of experience in.

“Think carbon capture and storage, think hydrogen, think biofuels, all of those recognized by credible third parties are going to be needed as part of the solution.

While other oil majors are looking to develop wind farms and solar parks, Exxon is focused on technologies that dovetail with the company’s strengths, Woods said. “At the end of the day, we’re a molecule company, not an electron company.

“Even as it pursues carbon capture and storage technology, Exxon will keep pumping oil and gas, Woods said.

“If we stop producing diesel and gasoline, the world demand doesn’t change. Somebody else will see that.

“I stop growing liquefied natural gas and the world burns more coal,” he said.

Norway’s wealth fund will require the companies it invests in to reach net zero emissions by 2050 at the latest. It recently voted in favor of a proposal calling for Exxon to adopt a medium-term target to reduce its customers’ emissions known as Scope 3 but the demand was rejected by a majority of shareholders.

06/08/2023
FIRS, LIRS sign pact for joint audit, investigations

The Federal Inland Revenue Service (FIRS) and the Lagos Internal Revenue Service (LIRS) have signed a Memorandum of Understanding (MoU) to establish a joint audit and investigation team (JAIT).

Speaking on the agreement, Executive Chairman of FIRS Muhammad Nami, said the collaboration will foster information sharing that would assist both parties in their tax administration and enforcement roles.

This, he said, would also provide capacity building between both tax authorities.

“We will carry out a joint audit and investigation as a team; we will also conduct an automatic exchange of information for gathering data for the purpose of tax administration. With that information, we would be able to carry out tax administration seamlessly,” Nami said.
Executive Chairman of LIRS, Ayodele Subair, said the partnership aims to encourage the exchange of information between both agencies.

Subair said the collaboration would improve tax administration by reducing compliance costs, thereby enabling ease of doing business in the country.

He also said the objective of the agreement is to ensure efficiency, accurate assessments, and increased revenue for funding government expenditures.

According to Subair, while the agencies carry out their respective mandates, JAIT would “help the administration enhance tax revenue generation, create a robust database and improve the country’s tax-to-gross domestic product (GDP) ratio”.

“There is no reason to debate the above as it has been established that tax compliance and good governance are expected to co-exist as the undividable social contract that binds citizens and governments anywhere in the world,” the LIRS taxman said.

“Therefore, citizens and governments are expected to fulfill their end of the bargain in achieving a balance.”

06/08/2023
Nigeria’s quity market sheds N37bn

Nigeria’s equity market declined on Thursday, dropping by N37 billion amid investors’ profit taking in some small and medium stocks.

The decline was largely due to negative sentiment.

Market capitalisation of listed equities declined by 0.12 per cent to N30.468 trillion from N30.505 trillion reported the previous day.

Also, the NGX All Share Index depreciated by 67.93 basis points to close at 55956.59 points from 56024.52 points reported on Wednesday.

The NGX trading result showed that five top gainers during the day appreciated by 10 per cent as ETranzact and NSL Tech gained 10 per cent each to close at N4.84 and N0.33 per share, respectively.

Unity Bank Plc, Japaul and Sovereign Trust Insurance added 10 per cent each, closing at N0.66 per cent, N0.44 and N0.44 per share respectively.

On the contrary JohnHolt recorded the highest loss during the day, declining by 9.68 per cent to N1.40 per share, Caverton trailed with a loss of 7.14 percent to close at N1.30 per share, Wapic Insurance dipped by 6.52 per cent to close at N0.43 per unit, Gloxosmith Kline down by 5.30 per cent to close at N7.15 per share, Stanbic IBTC sheds 3.02 per cent to close at N45.00.

Volume of trades during the day increased by 134.160 million, representing an increase of 33.74 per cent as Investors traded 521.784 million shares valued at N7.682 billion in 6061 deals against 397.624 million shares worth N6.537 billion in 5613 deals.

Transactions in the shares of United Bank for Africa led activity chart during the day, exchanging 177.475 million shares valued at N1.724 billion , NPF Microfinance Bank followed with account of 51.802 million shares valued at N93.274 billion, AccessCorp traded 32.102 million shares valued at N412.986 million, Zenith Bank Plc sold a total of 30.823 million shares at the cost of N863.314 million, while Dangote Sugar traded 19.302 million shares valued at N407.969 million

06/08/2023
NNPCL yet to reconcile N8.4trn subsidy claims with OAGF- RMAFC

*Backs Tinubu on fuel subsidy removal

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has said that the Nigeria National Petroleum Corporation Limited (NNPCL) is yet to remit over N8.4 trillion subsidy claims with the Office of the Account General of the Federation (OAGF).

Whilst reiterating its support for the recent subsidy removal announced by President Bola Ahmed Tinubu during his inaugural address, it described it as long overdue and a major challenge to the economic growth and development of the country.

In a statement signed by its Chairman, Mohammed Bello Shehu on Thursday, RMAFC stated that continued payment of humongous amounts to a privileged few in the name of subsidy was a major drain on the nation’s scarce resources as the Nigeria National Petroleum Company Limited (NNPCL) had since stopped contributing to the federation account.

In January 2022, NNPCL stopped its contribution to the federation account as it was funding the subsidy regime on behalf of the federal government.

Experts have over the years described the fuel subsidy regime as being characterized by opaqueness and other ambiguities.

According to Bello, the Commission had been consistent in its opposition to the vexatious issue of subsidy removal since the time of late Hamman Tukur who chaired the Commission during the administration of former President Olusegun Obasanjo.

As one of the fourteen (14) Federal Executive Bodies established by section 153 (1)(n) and empowered by paragraph 32 (a) and (c) of part 1 of the Third Schedule of the 1999 Constitution(as amended), RMAFC has the constitutional mandate to monitor the accruals to and disbursement of Revenue from the Federation Account and also advise Federal and State Governments on fiscal efficiency and methods by which their revenue can be increased.

The RMAFC helmsman described the May 29th pronouncement of the removal of fuel subsidy by President Bola Ahmed Tinubu at his inaugural speech, due to the non-budgetary provision for subsidy, as a master stroke that broke the jinx, stating emphatically that it is the appropriate step.

“The country can no longer sustain fuel subsidies whose demerits far outweigh its benefits to the citizenry. It is saddening to note that since 1^st January, 2022 to date, the Nigeria National Petroleum Company Limited (NNPCL) has not been contributing to the Federation Account due to the claimed subsidy payments. The total amount withheld by the NNPCL as claimed subsidies for this period amounted to N8,480,204,553,608.13 as reported by the Office of the Accountant General of the Federation(OAGF) which is yet to be reconciled by the RMAFC, OAGF, and NNPCL”.

He adds that in a situation whereby the records of subsidy transactions are not transparent and crude oil prices are being determined globally, it would be unwise to sustain the phantom payments of subsidy at the detriment of other critical sectors of the economy thus making its sustainability difficult for the government.

Mr. Shehu further emphasized that the removal of fuel subsidies will eliminate the alleged uncertainty surrounding the subsidy regime just as it will free funds for the execution of critical national development and human capital enhancement projects such as the provision of an affordable transport system, Investment in the education sector, improvement in Health care and infrastructural development, and resuscitation of domestic Refineries to eliminate dependence on imported fuel, amongst other key sectors.

The Commission’s Chairman also poured encomiums on the administration of former President Muhammadu Buhari for providing the necessary enabling environment for the successful take-off of the first private refinery easily the largest in the World built by Alh. Aliko Dangote, the World’s wealthiest Black Man believes that when it becomes operational, the country will witness a glorious dawn in hassle-free oil production and distribution in the absence of a subsidy regime.

While commending President Bola Ahmed Tinubu, for his uncommon courage and political will in doing away with the issue of fuel subsidy, he urged the new administration to work out strategies that would cushion the attendant effect of the new policy adding that deterrent measures should be earnestly taken to bring to book all the economic saboteurs who have contributed to our National adversity in accordance with the extant laws of the Federation.

06/08/2023
2023 Census expenditure not wasted – NPC

The National Population Commission (NPC) has said the expenditure towards the 2023 National Population and Housing Census is not wasted.

The NPC Federal Commissioner in charge of Delta, Chief Richard Odibo, said this during a breakfast meeting for media executives on Thursday in Asaba.

Odibo said that former President Muhammadu Buhari approved the postponement of the 2023 Census earlier scheduled for between May 3 and May 7, commending the commission for the progress recorded so far.

”The expenditure so far on what we have been doing since 2013 is not wasted.

”Most of the items that we procured towards the census are all safeguarded at different state’s Central Bank of Nigeria (CBN), states and local government offices.

”So much has been done and quite a lot has also taken place,” he said.

Odibo said that the commission welcomed the decision of the Federal Government to postpone the conduct of the census.

He said that the postponement would give the present administration the opportunity of making input into the process.

”The postponement has given the commission the opportunity to further perfect its processes and systems for the conduct of the first-ever digital census.”

The commissioner said that the breakfast meeting was to update media executives on the status of the preparation for the 2023 Census as well as the step forward in light of the postponement.

Odibo said that the commission had carried out all the preparatory activities for the conduct of the census.

He said that enormous human and material resources were expended on the implementation of the basic preparatory activities.

”The processes and systems put in place for the conduct of the census are currently being reviewed to determine what needs to be done to ensure that preparations do not become obsolete.

”The focus of the commission is to ensure that all the resources expended so far are safeguarded and that the nation does not need to start all over when the current administration would have approved a date for the conduct of the census,” he said.

Odibo said that the recruitment of ad-hoc staff was completed before the postponement.

He further said that the commission had commenced training of personnel before the postponement of the exercise.

According to him, a total of 13,814 enumerators and 2,846 supervisors have been trained.

”A total of 1,385 facilitators and 416 specialised workforce/quality assistants have also been trained.

”The commission has also trained 98 Training Centre Managers, 32 Data quality Managers, 26 local government training coordinators as well as 26 monitoring and evaluation personnel,” he added.

In his remarks, the State Director of the Commission, Mr Patrick Lotobi, said that to ensure credible census, the state office had been carrying out advocacy campaigns across the state.

Lotobi said that materials including generators, solar systems and jackets had been delivered to the state for the exercise adding that the commission was ready for the conduct of the census.

06/08/2023
NAPTIP, ICMPD target 100 victims in Kano

The National Agency for Prohibition of Trafficking in Persons and Other Related Matters (NAPTIP) has organised a free medical outreach for 100 victims of human trafficking in Kano.

The one-day medical outreach, organised in collaboration with International Centre for Migration on Policy Development (ICMPD), was under the framework of “Strengthening Niger-Nigeria Cooperation on Countering Trafficking in Human Beings.”

The project was funded by the Kingdom of the Netherlands.

Director-General of NAPTIP, Dr Fatima Waziri-Azi, said that the outreach had become necessary in order to address issues of trauma and sexual exploitation on victims of human trafficking (VoTs).

Waziri-Azi, represented by the Director, Counselling and Rehabilitation, NAPTIP, Mrs Angela Agbayekhai, said the victims always had medical issues which might not even known.

“The programme will enable them get medical attention and drugs so that they can fit properly into the society.

“We hope to extend the outreach to some other states,” she said.

The director-general commended ICMPD for supporting the project and advised parents and guardians not to allow their children and wards to leave Nigeria to seek for greener pasture.

“There is no place like Nigeria; it is not greener out there at all,” Waziri-Azi said.

Also speaking, the Head of Region, ICMPD, Dr Mojisola Sodeinde, said that the project was aimed at ensuring that victims of trafficking have access to medical needs while undergoing rehabilitation at the shelter for proper health care services.

“Victims of human trafficking (VoTs) are exposed to various health risks and abuses, such as sexually transmitted infection, HIV/AIDS, pelvic inflammatory disease, skin infection, psychosocial health problems, drug abuse and insomnia, among others,’’ the ICMPD chief said.

Sodeinde, represented by the Programme Assistant, ICMPD, Mr. Adeniyi Bakre, said that the outreach was also targeted at creating awareness on the ills and dangers of trafficking in persons (TIP) and other transitional-organised crimes.

Earlier, the Public Relations Officer, of the Nigeria Medical Association of Women Doctors, Dr Hajara Maizare-Ibrahim, said that to support and advise the victims on their health problems.

Maizare-Ibrahim, who is also a member of the Nigeria Medical Association (NMA), Kano branch, said “Since health is wealth, we don’t need to be seriously ill before we seek medical advice.

“It is good to identify health issues early and seek medical advice.”

The victims were given welcome packs, which included bags, perfumes, slippers, towels, soap and cream, among others.

Mrs. Hafsat Muhammad, who spoke on behalf of the victims, commended NAPTIP and ICMPD for their kind gestures.

“I am married and a nurse by profession. I travelled to United Arab Emirates (Dubai) to work as a nurse because I was in need of money to cater for my family.

“After arriving Dubai, I was told I had to work as a housemaid, which I rejected and as a result, they refused to give me accommodation. The experience was so traumatic but I thank God that I came back safely.”

Muhammad called on the government and kind-hearted individuals to assist women with empowerment to enable them to become self-reliant.

06/08/2023