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DMO Stops Banks From Lending To State Govts

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The Debt Management Office has stopped the commercial banks from lending to the state governments as well as local governments across the country.
Chairman of Commissioners of Finance Forum, Mr.Timothy Odaah, made this known while speaking at the October Federation Accounts Allocation Committee meeting in Abuja.
Odaah who spoke on behalf of the states asked the Minister of State for Finance, Mr. Bashir Yuguda, to stop intervene and save the states from starvation of funds.
Sources close to the meeting said initially, the minister said he was not aware of the directive from DMO stopping commercial banks from lending to the states.
However, when one of the commissioners read a letter dated August 26 emanating from DMO to commercial banks on guidelines for lending to the three tiers of government, the minister said the purpose of the letter was to ensure conformity to laid-down procedures.
In the letter which had been copied to the Central Bank of Nigeria as well as the chief executive officers of the banks operating in the country, the banks were told that they can only lend to any tier of government for long term projects.
The commissioners, however, protested saying that in practical terms; the banks had stopped lending to state and local governments except with the approval from the Federal Ministry of Finance.
They kicked against the need to obtain approval from an agency of one arm of government before a bank can lend to two other arms of government that are in federation with the federal government.
The commissioners accused the Federal Government of ‘trading on the part of illegality’ and wondered when the commercial banks started lending on long term basis.
The commissioners expressed disappointment that at a time when revenues sharable by the three tiers of government were dwindling; they would also be tactically fenced off from the money market without even the opportunity of resorting to the capital market.
To douse the tension that was generated by directive, the minister asked the commissioners to state their position in a letter to the ministry.
Speaking to the press after the meeting, Odaah denied that there was a disagreement between the Federal Government and the states but confirmed that the banks had been given instruction to stop lending to the states and local governments.
Odaah said, “If there were such (disagreement), you would have heard cacophony of voices. When we rose up and clapped our hands, you didn’t hear that one – that we passed vote of confidence on the minister and chairman of FAAC for the way he had been able to carry us along.
“We looked at certain issues – that the government should look into the matter of borrowing. The states would like to have banks unencumbered. Some of the banks are complaining that they are under some instructions and we have asked the minister to look into that.
“We appealed to the minister to do much in order to ensure that the coast of the capital market is cleared because it is only from the capital market that you can have easy fund and it is much more transparent especially when you look at coupon rate.
“The banks now being money market; they give only short term loans. And if you take short terms loans; you cannot not use it to develop long term projects. We looked at all those areas.”
Odaah who is also Commissioner for Finance in Ebonyi State called for the removal of subsidy from petroleum products, arguing that it was the way to manage dwindling oil revenue and enable the states to develop at their own pace.

Local Government Health Workers protesting for transfering their salary to Primary Health Care Management in Port Harcourt, recently. Photo: Obinna Prince Dele

Local Government Health Workers protesting for transfering their salary to Primary Health Care Management in Port Harcourt, recently. Photo: Obinna Prince Dele

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Anglican Bishop Urges Politicians To Lead With Integrity

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The Bishop of Anglican Diocese of Niger Delta, Dr Emmanuel Oko-Jaja, has called on Nigerians, especially those in positions of authority to uphold moral standard and integrity.
Oko-Jaja said this at a thanksgiving service to mark the 90th birthday of Prof. Sylvanus Cookey at Saint Paul Anglican Church in Opobo Town, Rivers yesterday.
The Tide’s source reports that Cookey was the second Vice Chancellor of the University of Port Harcourt (UNIPORT) in 1982.
Oko-Jaja advised political leaders to always be self-aware and avoid actions that could damage their reputation.
“In today’s Nigeria, hardship has changed how the people behave, as lies have become more popular than the truth.
“We now live in a country where injustice is now celebrated and lowering moral and social standard have become the new normal.
“Leaders must follow the exemplary legacies set by our forebears by becoming upright and live a life that would not bring shame to their family and community,” he said.
He attributed the country’s current economic challenges and declining living standards to leaders failing to prioritise the well-being of citizens.
“The younger generation should emulate the virtues of our predecessors like Prof. Cookey, who prioritised integrity over material gain.
“Good reputation was the norm back then, and I hope that God will restore it to Nigeria, where leaders’ goal will be to have good names.
“If anyone wants to commit evil, they should remember that their actions can bring a bad name to their family and community,” he cautioned.
Addressing the celebrant, the King of Opobo Kingdom, HRM Dandason Jaja, praised Cookey for his impact on society and described him as a mentor and philanthropist.
He said that the celebrant was a distinguished academic, who had impacted numerous youths through vocational training, leading to their successful employment in different sectors.
Speaking earlier, Cookey expressed gratitude to God for attaining 90 years and acknowledged the support of his family and friends.
Reflecting on his contributions to the country, he encouraged leaders to leave behind positive legacies for future generations to celebrate.

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Senators, Reps To Resume Plenary In Remodelled Main Chambers

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Nineteen months after federal lawmakers movement to  temporary chambers,  the Nigerian Senate and House of Representatives would finally resume sittings in  their  newly remodelled main hallowed chambers tomorrow
Spokesperson of the House of Representatives, Hon. Akin Rotimi Jnr, and the Clerk to the Senate, Barrister Chinedu Akubueze confirmed the planned movement to the main chambers in separate written announcements made penultimate week on the change in resumption date by lawmakers from their ongoing recess.
Hon. Rotimi, who is the chairman, House Committee on Media and Public Affairs, in the official announcement dated April 4, 2024 to the honourable members, cited the need to resume plenary at the renovated and reconfigured main chamber, as reason for the postponement in line with the general wish of the lawmakers.
“The House of Representatives wishes to inform the public and stakeholders of the rescheduling of the resumption date from the ongoing recess, originally slated for Tuesday, April 16, 2024, to  Tuesday, April 23, 2024.
“This adjustment is necessary to accommodate the completion of renovations to the main chamber of the House of Representatives to ensure its readiness for plenary sessions, henceforth,” he stated.
Two days after, the Clerk to the Senate also issued a statement, postponing resumption of plenary by the Senate from April 16 to 23, 2024.
Akubueze ‘s statement reads in part: “Distinguished Senators are hereby invited to note that the resumption of the plenary sitting of the Senate, which was scheduled for Tuesday, 16th April, 2024, has been postponed to Tuesday 23rd April, 2024”
It would be recalled that ahead of the projects delivery, the Site Engineer of Visible Construction, Tajudeen Olanipekun, had early last month informed journalists covering the Senate, that the two main chambers, would be ready for use by both the Senate and the House of Representatives in April this year.
Olanipekun’s assurance on delivery of the fully transformed and reconfigured hallowed chambers to management of the National Assembly, coincided with call by the President of the Senate, Godswill Akpabio, to the Clerk to the National Assembly, CNA, Alhaji Sani Magaji Tambawal that both the Senate and the House of Representatives, want to move to their main chambers as soon as possible after close to two years of using temporary ones.
In carrying out the subtle marching order, the construction firm in the last five weeks has carried out the required finishings on
the upgraded and reconfigured hallowed chambers fixed with state-of-the-art chairs, parliamentary equipments,  appliances and extended sitting terraces.
Physically, the entire ambience of the space in and around the hallowed chambers have been transformed, just as barricades used to restrict movements at the foyer have been removed.
The  Federal Capital Development Authority, FCDA, had in March 2021 awarded a N30billion renovation contract to Visible Construction Limited to rehabilitate critical segments of the National Assembly complex.
The law makers had in September  2022 vacated the main chambers to enable the Contractors;   handle the renovation work of both chambers
Some of the critical segments are the office buildings housing the office accommodation for the senators and honourable members, watertightness of the roof of the complex, the cooling system, replacement of lifts that are inoperable in the White House as well as in the House of Representatives and in the new Senate Wing among others.

By: Nneka Amaechi-Nnadi, Abuja

 

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Police Commence Recruitment Process In Anambra, Enugu

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The Zone 13 of the Nige- rian Police Force, comprising Anambra and Enugu States, has announced the venue and time for both General Duty and Specialist Constable recruitment medical screening in the two States.
This is contained in a statement issued yesterday by the Zonal Police Public Relations Officer, SP Josephine Ihunwo, yesterday in Enugu.
Ihunwo said that prospective candidates from Zone 13 should note that the exercise would take place at Police Hospital, Awka.
She said that the medical screening would commence simultaneously nationwide on Tuesday, April 16, and end on April 30, 2024.
“Candidates are advised to visit the recruitment portal: https://apply.policerecruitment.gov.ng to know their status, specific time, date and other mandatory requirements.
“So also, qualified applicants are to appear in clean white T-shirt and short with the following requirements;
“National Identity Card/Slip; Print Out of Medical Examination Slip and all necessary documents.
“The Assistant Inspector-General of Police Zone 13 Command, AIG Godwin Aghaulor, wishes all prospective candidates success as they embark on this exercise,” he said.

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