Connect with us

Business

TSA Compliance: Group Wants ICPC To Probe MDAs

Published

on

A  non-profit initiative has urged the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to extend its ongoing probe of Ministries, Departments and Agencies (MDAs) to include their level of compliance to the Treasury Single Account (TSA).
The Africa Leadership Strategy and Transparency Development Initiative (ALSTDI) in a statement in Lagos yesterday by its Executive Director, Mr Nelson Ossaieze, also implored the Federal Government to explain its decision to transfer the burden of transacting with the TSA to the citizens.
This, ALSTDI said, was in line with international transparency best practices.
“It is indubitable that the implementation of the Treasury Single Account policy is one of the most significant achievements of the current Federal Government administration.
“This feat is despite the alleged non-compliance or partial compliance by certain MDAs and exclusion of foreign accounts from the scheme.
“Therefore, the need arises for the  ICPC to openly investigate the level of adherence to the policy by MDAs in order to consolidate on the remarkable achievement of the policy thus far,” it said.
It noted that in November 2018, the Federal Government suddenly directed that the cost of operating the scheme should be transferred to the payers who were the citizens.
The group also said the change, according to the Accountant General of the Federation, was premised on the unsustainable nature of the cost of servicing the policy.
“Non-card payments to the government now attract a flat service charge of ¦ 157.50K and card payments now cost ¦ 150 plus 0.75 per cent of the amount being paid, subject to a maximum of ¦ 1,200 per transaction.
“Understandable as this appears, owing to the long-term impact on the nation’s economy, the lack of proper public sensitisation leaves much to be  desired from the FG.
“Surprisingly, Nigerians are  unaware of the policy change prior to the effective date.
“Reports indicate that the operators, like other players in the process, has this sudden reality forced on them.
“FG must bridge the inherent knowledge gap in the public space by embarking on a nationwide sensitisation campaign and highlight the long-term benefits rather than allow the current misinformation to linger,” it added.
ALSTDI, however said, it was aware that the current rate was lower than the global industry benchmark.
It also said that, the current economic realities of the country implied that such changes could not be made without proper and due consideration of the average Nigerian.
The body advised FG to assent the minimum wage bill, implement the 2009 agreement with the Academic Staff Union of Universities and other initiatives to significantly lessen the burden on Nigerians whilst sustaining the gains of the TSA.
It said: “Finally, we remain proud of the role played by the indigenous firms in delivering the TSA project in record-time when foreign companies can not deliver and for their patriotic successful sustenance of the TSA regime.
“SystemSpecs came to the rescue of the country when our economy was on the brink of a total collapse through its deployment of Remita to plug existing leakages in the public financial sector.
“Undeniably, SystemSpecs’ exceptional delivery of a project of national significance is proof of the maturation of indigenous firms hence must be celebrated and not vilified,” it added.
According to ALSTDI, FG is required to do more in promoting these firms and demystifying the TSA service charge will be a step in the right direction.
“In conclusion, as an African-focused Civilian Society Organisation, we entreat FG to make Nigeria proud.
“This can be by promoting and even exporting the TSA to other countries across the continent to promote probity and add to the ranks of TSA compliant nations like Rwanda and Uganda,” it added.

Continue Reading

Business

Agency Gives Insight Into Its Inspection, Monitoring Operations

Published

on

The Director, South South Zone National Agency for Food Drug Administration and Control (NAFDAC), Pharmacist Chujwuma P.Oligbu has said its  thorough implementation of its core mandate of monitoring has no link with witch-hunting or fault finding as perceived at some quarters.
 Oligbu, made this known when he spoke as as guest at the maiden Rivers state Supermarkets stakeholders’ Seminar/Workshop in Port Harcourt recently.
Rather, he said they were mere opportunities for education, correction and continuous improvement.
The Agency’s South South Boss, noted that  Supermarket operators who maintain transparent records, cooperate during inspections, and promptly address identified gaps demonstrate professionalism and commitment to public health standard.
He listed the deserving essence of supermarket operation to include the key aspects of supermarket operation that deserves emphasis is product sourcing.
“Supermarkets must ensure that all regulated products stocked on their shelves are duly registered with NAFDAC and sourced from legitimate manufacturers or distributors”, he said .
According to him, the presence of unregistered, expired, counterfeit, or improper labelled products undermines consumer confidence and poses serious health risks.
He pointed out that such has the likelihood of  exposeing supermarket operators to legal sanctions that could damage their reputation and financial stability.
The NAFDAC Operator, further enlightened the participants that mere registration of a particular product with the Federal agency do not guarantee absolute consumption safety.
“Temperature control, cleanliness, pest control, stock rotation, and proper shelving are not optional practice; they are essential components of compliance”, he said.
The South South zonal director also told the operators of supermarket that their employees rotine training on the basis of the product they display for sale is of utmost importance.
In her presentation a Breast Milk Nutrition Expert , Professor Alice Nte of University of Port Harcourt Teaching Hospital (UPTH), was against the body’s prime attention to breast milk substitute or baby milk in supermarkets as well as its advertisement or promotion.
Nye jerked up  the importance of mothers breast milk to the newborn baby and added that it  help in fighting against childhood diseases, infections and combating cancer in breastfeeding mothers.
Meanwhile, NAFDAC Deputy Director, South – South Zone , Mrs. Riter Chujwuma educated the participants on the guidelines for global listing, and the need to adhere strictly to rules guiding global listing to avoid confiscation of their imported products.
By: King Onunwor
Continue Reading

Business

BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS

Published

on

The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.

In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.

 According to the data, more than 4.3 million new BVNs were issued within the one-year period, underscoring the growing adoption of biometric identification as a prerequisite for accessing financial services in Nigeria.

NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.

Analysts linked the growth largely to regulatory measures by the CBN, particularly the directive to restrict or freeze bank accounts without both a BVN and National Identification Number (NIN), which took effect from April 2024.
The policy compelled many customers to regularise their biometric records to retain access to banking services.

Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.

The programme has been widely regarded as a milestone in integrating the diaspora into Nigeria’s formal financial system.

A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.

However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.

The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.

Continue Reading

Business

AFAN Unveils Plans To Boost Food Production In 2026

Published

on

The leadership of the All Farmers Association of Nigeria (AFAN) has set the tone for the new year with a renewed focus on food security, unity and long-term growth of the agricultural sector.
The association announced that its General Assembly of Farmers Congress will take place from January 15 to 17, 2026 at the Abuja Chamber of Commerce and Industries, along Lugbe Airport Road, in the Federal Capital Territory.
The gathering is expected to bring together farmers, policymakers, investors and development partners to shape a fresh direction for Nigerian agriculture.
In a New Year address to members and stakeholders, AFAN president, Dr Farouk Rabiu Mudi, said the congress would provide a strategic forum for reviewing past challenges and outlining practical solutions for the future.
He explained that the event would serve as a rallying point for innovation, collaboration and economic renewal within the sector.
Mudi commended farmers across the country for their determination and hard work, despite years of insecurity, climate-related pressures and economic uncertainty.
According to him, their resilience has kept food production alive and positioned agriculture as a stabilising force in the national economy.
He noted that AFAN intends to build on this strength by resetting agribusiness operations to improve productivity and sustainability.
The AFAN leader appealed to government institutions, private investors and development organisations to deepen their engagement with the association.
He stressed the need for collective action to confront persistent issues such as insecurity in farming communities, climate impacts and market instability.
He also urged members to put aside internal disputes and personal interests, encouraging cooperation and shared responsibility in pursuit of national development.
Mudi outlined key priorities that include increasing food output, expanding support for farmers at the grassroots and strengthening local manufacturing through partnerships with both domestic and international investors adding that reducing dependence on imports remains critical to protecting the economy and creating jobs.
He stated that the upcoming congress will feature the launch of AFAN’s twenty-five-year agricultural mechanisation roadmap, alongside the announcement of new partnerships designed to accelerate growth across the value chain.
Participants, he said wi also have opportunities for networking and knowledge exchange aimed at transforming agriculture into a more competitive and technology-driven sector.
As part of its modernisation drive, AFAN is further encouraging members nationwide to enrol for the newly introduced Digital ID Card.
Mudi said the initiative will improve transparency, ensure proper farmer identification and make it easier to access support programmes and services.
Reaffirming the association’s long-term goal, he said the vision of national food sufficiency by 2030 remains achievable if unity and collaboration are sustained.
He expressed optimism that with collective effort, Nigeria’s agricultural sector can overcome its challenges and deliver a more secure and prosperous future.
Lady Usendi
Continue Reading

Trending