The Nation Newspaper

Tag: commits

  • SON commits to keeping standard

    SON commits to keeping standard

    Standards Organisation of Nigeria (SON), said it is committed  to keeping standards and ensuring that product certification remains the key to improving Nigeria’s product competitiveness in the local and international market and for gaining acceptance.

    SON’s Director-General, Osita Aboloma,  said this during SON’s special day at the 2017 Lagos International Trade Fair.

    Aboloma, who was represented by the Director, Business Support Services (BSS), Mrs. Margret Eshiet, said SON has put in place, planned implementation of products authentication scheme before the end of the year, saying the scheme will tackle the challenge of products cloning and product adulteration.

    He said:”The outcome of product authentication scheme will drive away product faking and support zero-tolerance to sub-standard products and ultimately promote the image of quality certified products from Nigeria.”

     

     

     

     

     

  • Man commits suicide in Edo

    A motorcycle spare parts dealer in Auchi, Estako West local government area simply identified as Muhammed has committed suicide.

    His body was found on Sunday morning dangling at his apartment where he hung himself.

    Some neighbours said late Mohammed has been behaving in a manner that suggested that he was having spiritual problem.

    He was said to be have complained of having sleepless nights for several weeks.

    A source said the deceased told some people that he was tired of life and that it was time for him to go.

    “At a point he attempted to drink rat poison but his wife sighted him and prevented him from drinking it,” the source said.

    The source claimed that late Mohammed spent some time with his family that night  only for his corpse to be discovered in the morning.

    When contacted, Edo State Police Public Public Relation officer, DSP Moses Nkombe, said the matter was not reported to the police.

  • CBN commits N1.2tr to intervention schemes

    CBN commits N1.2tr to intervention schemes

    • N3.1tr guarantees for SMEs 

    The Central Bank of Nigeria (CBN) has so far committed about N1.169 trillion to various intervention schemes being promoted by the Federal Government.

    Speaking yesterday at an international conference on agricultural value-chain financing held in Lagos and sponsored by Union Bank, Acting CBN Governor Dr. Sarah Alade said the funds were committed by the CBN in collaboration with the Federal Government into key economic schemes for economic development.

    She listed the schemes as the Agricultural Credit Guarantee Scheme (N69 billion); Commercial Agricultural Credit Guarantee Scheme (N200 billion); the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (N200 billion); Small and Medium Enterprises Credit Guarantee Scheme (N200 billion).

    Others are the SMEs Restructuring and Refinancing Scheme (N200 billion) and Power and Airlines Intervention Fund (N300 billion). Alade, who was represented by CBN Director of Research, Charles Mordi said schemes were meant to address the challenges confronting agriculture and agric business in the country.

    She said the Federal Government and CBN instituted the intervention programmes to enable key players in the economy have access to finance adding that access to credit remains important to agricultural value-chain.

    Speaking further, she said the Agricultural Credit Guarantee Scheme was introduced in 1978 to encourage lending to the agric sector. Alade said the scheme has up to date, supported the sector by guarantying loans to over 800,000 beneficiaries.

    She said the N200 billion Commercial Agricultural Credit Guarantee Scheme was established in 2009, to finance large ticket agricultural enterprises along the value-chain at single digit interest rate. In its four years of existence, the scheme, she added, has helped increase capacity utilisation, from 35 to 85 per cent and also created 209 new jobs.

    On the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), she said the project was instituted in 2010, to unlock financial resources for agricultural value-chain. The NIRSAL represents a shift from the traditional paradigm of credit delivery and encourages banks to lend to value-chain.

    Explaining further, she said the N200 billion Small and Medium Enterprises Credit Guarantee Scheme was introduced to provide 80 per cent guarantee for credit guaranteed to the manufacturing sector to fast track their development. The scheme also caters for agricultural value-chain activities. She disclosed that as at December 8, 2013, a total of 65 projects valued N3.1 trillion were guaranteed.

    The next scheme instituted by the parties was the N200 billion Small and Medium Enterprises Restructuring and Refinancing Scheme which has also boosted the benefices’ contributions to the economy.

    Equally, the N300 Power and Airlines Intervention Fund (PAIF) were meant to facilitate intervention in the transport sector. It was meant provide long term financing that would stimulate private sector participation in the sector.

    Alade said that as at December 8, 2013, the total amount released for 45 projects stood at N232.7 billion comprising of 29 power projects com, N115.7 billion, and 16 airline projects worth N116.9 billion. She said the 29 power projects financed by PAIF have a combined generating capacity of 847.4 megawats of power.

     

     

     

     

  • Landlord commits suicide in Enugu

    The body of a man, who was said to be a landlord, has been found hanging in his room at New Haven, Enugu.

    The police identified him as Chinedu Eziobu of 67 Chime Avenue, New Haven, Enugu.

    A police bulletin by the spokesman of the command, Ebere Amaraizu, said one of the deceased’s tenants, Joseph Bassey, had complained that his landlord had not been seen since Saturday.

    The police broke open Eziobu’s door and found him hanging from the ceiling.

    The police said they found a suicide note in the room.

    It reads: “Ben, my brother, gave black plastic bag for Mr. Nwafor and the black plastic bag with its contents is to be handed over to his brother, Benjamin Eziobu.”

    Amaraizu said the police have begun investigation into the death, adding that the body has been deposited at the Eastern Medical Centre mortuary for autopsy.