The Nation Newspaper

Tag: Committee

  • Reps committee alleges pressure over $43m Osborne loot’s probe

    External pressure is allegedly being mounted on the House of Representatives over its investigation of the $43 million discovered by the Economic and Financial Crimes Commission (EFCC) in an apartment in Ikoyi, Lagos, it was gathered at the weekend.

    Though money inducement has not taken place, threats and persuasion through text messages and physical contacts have been employed to sway the course and outcome of the investigation.

    The Committee on National Security and Intelligence handling the matter has, however, assured that the investigation was in the interest of preserving the integrity of the nation’s institutions.

    Its chairman, Sani Jaji, after his committee meeting with EFCC Acting Chairman Idris Magu on Friday said Central Bank of Nigeria (CBN) Governor Godwin Emefiele is next to appear before the committee.

    Jaji said a lot of ground has been covered but pressure on the committee has been immense.

    He, however, said the committee would not be intimidated.

    He said: “There have been attempts on me as the chairman of the committee and members of the committee on what direction the investigation should take and the possible outcome of our report.

    “There has been a lot of frustration but this has not in any way affected us because we remain committed to our cause.

    “There is no monetary inducement though, but these pressures are in form of text messages and physical contacts about what we should do, what we should not do, that we should dwell on this and not on that.

    “They said this or that agency has a reputation that should not be put on the line, and so we should not go beyond certain extent. But we tell them that our determination is to safeguard the name and integrity of our institutions.”

  • Bankers’ Committee: FX Window attracts $2.2b

    Bankers’ Committee: FX Window attracts $2.2b

    Dollar inflows into the economy through the newly introduced Investor and Exporter (I&E) Forex Window have hit $2.2 billion, the Bankers’ Committee said yesterday.

    The I&E FX window was introduced by the Central Bank of Nigeria (CBN) on April 24 to enable portfolio investors sell dollars at rates of their choice, if they get buyers.

    Briefing  reporters at the end of the 333rd meeting of the committee in Lagos, CBN Director, Banking Supervision, Abdulahi Ahmad, said the inflows, registered in the I&E Window had helped to stabilise the foreign exchange market.

    The inflows also created more possibilities and positive feedback that the economy would come out of recession in the third quarter, he added.

    The CBN, Ahmad said, must defend the naira, and ensure that the exchange rate did not deteriorate. “We will continue to defend the local currency against the dollar and ensure that the naira does not deteriorate. The ongoing convergence of the exchange rate is an indication that the economy is picking up.”

    Speaking at the meeting, Stanbic IBTC Bank Plc Deputy Managing Director Demola Sogunle said the committee acknowledged the CBN’s efforts in encouraging foreign portfolio investors who have contributed to shoring up the inflows into the I&E Window.

    Liquidity, he said, was gradually returning to the forex market, adding that CBN’s share of the market is currently less than 30 per cent. “When the window was opened, the bid offer spread was between N40 and N50, but the bid-offer rate has reduced. The Nigerian Autonomous Foreign Exchange Rate Fixing (NAFEX) and parallel market gap has also reduced, even as portfolio investors are returning,” he said.

    The committee also discussed the need to cut interest rate, as requested by the Senate so as to grow the economy.

    On CBN’s continuous intervention in the forex market, the committee said the regulator remained a major player in the economy. The CBN, the committee added, is a seller and buyer in the forex market. It said as dollar inflows into the economy continue to improve, CBN’s interventions in the market would likely drop.

    The committee said although the CBN had spent over $5 billion to defend the naira and support manufacturing and other key sectors of the economy, the foreign reserves still remained robust.

    Standard Chartered Bank Managing Director Bola Adesola said the Agric/SMEs equity fund contributed by the banks stood at N26 billion, adding that the lenders were developing framework on how SMEs could access the funds.

    “The fund will help SMEs to build capacity, but we want to ensure that we have the right governance to the equity fund,” she said.

    Fidelity Bank Plc Managing Director  Nnamdi Okonkwo said the committee agreed to suspend all charges on microfinance bank customers that want to enroll on the Bank Verification Number network.

    He said such services would now be carried out free of charge, adding that the plan was in line with the CBN’s financial inclusion agenda.

    Also, in its latest move to further rein in inflation, the CBN has unveiled plans to mop up a total of N200.322 billion from the banking system through a special Open Market Operation (OMO) at the rate of 16 per cent per annum.

    The CBN said its decision to mop up liquidity was in reaction to the maturity of N206 billion.

    CBN spokesman Isaac Okorafor explained that the apex bank decided on the rate of 16 per cent per annum due to the falling rate of inflation, which he noted will continue to drop.

    This followed  Monday’s  release of Treasury Bills Issue Programme for the third quarter of 2017 in which the apex bank disclosed that the maturity dates for the various tenors will be June 15, June 22, July 6, July 20, August 3, August 17 and August 31, 2017, respectively.

  • Committee educates 300 converts

    The Da’awah Committee in Katsina State has said it had educated 300 persons who recently embraced Islam on good conduct, brotherhood and tolerance.

    The Chairman of the committee, Sheikh Salisu Bakori told the News Agency of Nigeria (NAN) yesterday in Bakori that, during the three-day seminar, the converts were sensitised on Islamic law, good neighbourliness and support to the needy.

    According to him, most of the converts were from the 27 local government areas of Katsina State and some from Kudan, Giwa and Hunkuyi Local Government Areas in Kaduna State.

    Bakori said apart from the religious teachings, the 300 converts also had various sessions on skills acquisition, to empower them to be self-reliant.

    He noted that poverty had been a major cause of restiveness, as such it was important to encourage all Muslims to learn trades so as to earn decent living.

    The cleric described the pursuit of education as compulsory in Islam, saying that the training was therefore to expose the converts to knowledge that would help them earn salvation and for worldly relationships.

    The cleric stressed that topics on religious tolerance were critical in view of the actions of a few Muslims and daily misrepresentation of Islam by the western media, for selfish ends.

    He urged Muslims to project Islam positively by carrying out duties and obligations in their dealings with all, irrespective of religious differences.

     

     

     

     

  • Moji Olaiya: Only actress’ family can reveal donations, burial plans, says committee

    Moji Olaiya: Only actress’ family can reveal donations, burial plans, says committee

    A member of the burial committee for late actress Moji Olaiya, Mrs. Foluke Daramola-Salako, has said only the family of the deceased can make public details of the donations and funeral plan for the star actress.

    Speaking with The Nation, Mrs. Daramola-Salako said the funeral details would come out after her body arrives in Nigeria.

    The family of the deceased has been in a dilemma on how to convey her body to Nigeria.

    Succour, however, came their way on Monday, when the committee approached All Progressive Congress stalwart Asiwaju Bola Ahmed Tinubu, who rose to the occasion.

    The committee would not say how much was given to them by Tinubu, saying the family reserves the right to make the donation public, if they choose.

    A source in Tinubu’s camp also declined to give the exact amount, saying the former Lagos State governor did not expect the committee to make his donation public in the first place.

    “All I can tell you is that members of the burial committee for the late actress approached the APC stalwart, saying they needed help to bring the body of the actress home, especially on the request of the deceased 18-year-old daughter, and he gave them some money yesterday (Monday),” said the source.

    Reports indicated that the committee had estimated that about USD17,000 would be required to bring the corpse and the baby to Nigeria, being the amount presented, albeit unofficially, to Ekiti State Governor Ayo Fayose few days ago.

    The late Olaiya was delivered of a baby girl on March 17 in Ontario, Canada, after which she died from a heart attack on May 18, at the age of 42.

    “Moji is an ambassador of Nigeria,” said Mrs. Daramola-Salako, who debunked the rumour that the actress’ body was released a long time ago.

    She stated that the body was only released on May 20.

    Publicity Secretary of the burial committee, Yomi Fabiyi, in a separate chat, corroborated Daramola-Salako on the date the corpse was released.

    “It was just two or three days ago that the government of Canada released the body for burial,” Fabiyi said over the phone. “It had been going through autopsy.”

    On how long it would take to begin the funeral rites, he said: “Like I am told, to get the required papers, tickets for the baby and the two people accompanying the corps, and all the necessary Customs and Immigration papers is going to take like one week.

    “I don’t want to speculate because it also depends on the availability of flight and how speedy the process can be,” he said.

    Headded that the body of the actress will be accompanied by Yinka Farinde, a film promoter in Canada. The baby will also be arriving with a personal nurse.

    The committee said more people can still donate money since the funds being solicited will support the welfare of the late actress’ family.

  • Committee urges IDPs managers, security agencies to end sexual harassment

    Chairman, National Logistic Committee on Distribution of Relief Material to Internally Displaced Persons (IDPs) Mr Abdulkadir Azarema, has called on agencies responsible for the duty to safeguard camps and unite to avoid sexual harassment.
    Azarema made the appeal in an interview with the News Agency of Nigeria (NAN) in Benin, Edo State capital.
    The chairman, who is also an Assistant Comptroller of Customs, said Benin IDPs camp had not recorded any case of sexual harassment like other camps in the Northeast.
    He said: “The issue of social menace; we are happy here, the pastor has told us that there were no reports on social or sexual harassment. There were no cases of diseases but nevertheless in other places we have heard of some cases.
    “The agencies responsible for maintaining the camps, state governments, National Emergency Management Agency (NEMA) and health officials should put hands together to ensure that IDPs camps are secure from insurgency.
    “They should be sure they are protected from internal problems such as conflict between IDPs, conflict between security agencies and social workers and the issue of sexual harassment should be curtailed The IDPs should also respect one another and ensure they live in harmony with one another.’’
    According to him, the Federal Government has been making efforts to ensure that IDPs are returned to their various communities.
    Azarema said the military, police and other security agencies had complemented the efforts of one another to ensure that security was attained.
    He added with their efforts, sporadic attack of Boko Haram has been suppressed as government was putting in efforts to ensure all those were controlled.
    Azarema said it would not be wise to return everybody (IDPs) to their communities when there might be some treats, adding that majority of the IDPs had returned to their secured villages.
    “The ones in Benin particularly, we have heard from them that some of them want to stay here to complete their education which they have started. So we cannot say that they must go back since they have an ambition to accomplish their education.
    “We are glad they are getting support from the state government and other donor agencies,” he said.

  • Ijaw youths set up committee on refineries

    Ijaw youths under the aegis of the Ijaw Youth Council (IYC) Worldwide have constituted a technical committee on modular refineries.

    They said the committee would work out modalities of bringing investors to participate in the proposed  refineries in the Niger Delta.

    IYC President Mr. Eric Omare, yesterday in Yenagoa, Bayelsa State, said youths were opposed to  moves by the government to bring investors for the project.

    He said to achieve their aims of developing oil-producing communities, the refineries must be driven by the communities, with investors decided by them.

    Omare said: “The high-powered technical managerial committee comprising distinguished Ijaw people has been mandated to source investors.”

    He said the idea to set up the committee was borne out of requests by people to source investors for the project.

    The IYC president said the Niger Delta people had the capacity to source investors to operate the refineries.

    He said if the government sourced investors, the refineries would toe the line of oil and gas industry dominated by foreigners to the detriment of the Niger Delta people.

    Omare said: “An example that our people have the capacity to source investors is the case of Gbaramatu people. As we speak, the people of Gbaramatu have secured more than $200million investment by foreign people who are ready to invest in the Gbaramatu modular refinery underway.

    “What they did at Gbaramatu was that they agreed with the Delta State Oil Producing Development Commission that no other projects would be executed at Gbaramatu and that the money should be channelled towards the building of modular refineries. They have secured foreign investment to build the refinery.

    “This is the concept IYC believes should be followed in the Niger Delta, not the government sourcing investors because if it sources investors, politicians and people from other parts of the country will hijack the concept to the detriment of the Niger Delta people.

    “Now, closely related to the reason we are advocating that our people should be allowed to source investors is that if you observe well, through the amnesty programme, people that became beneficiaries had never seen guns before.

    “Today, we have people that are called oil thieves and all sorts of names. This programme is targeted at them. The moment you allow the government to source investors, those people will not benefit from the programme.”

  • Buhari to constitute minimum wage committee

    The Minister of Labour and Employment, Senator Chris Ngige, has said President Muhammadu Buhari will soon approve the setting up of a 29-man committee to engage organised Labour in negotiating a new national minimum wage for workers.

    He said the committee’s report will be subjected to the scrutiny of the National Assembly before it can be implemented by the government.

    Organised Labour comprising the Trade Union Congress of Nigeria (TUC) and the Nigeria Labour Congress (NLC) has submitted a N56,000 new national minimum wage request to the government.

    The minister, who addressed reporters in his office after a meeting of the technical committee, said the committee was yet to be set up, adding that the technical committee set up in June 2016 to work out modalities for the review of the palliatives would soon submit its report to the main committee.

    He said in accordance with the provisions of the 1999 Constitution, it was within the ambit of the National Assembly to amend the minimum wage act, since national minimum wage issues are on the exclusive list.

    According to him, the main committee made up of eight ministers and the Secretary to Government of the Federation, as well as Labour leaders, will adopt or review the report before submitting it to President Buhari, who will approve the composition of the national minimum wage committee.

    Ngige said for the first time in the history of minimum wage negotiation, the Nigeria Governors Forum would be represented by three of their colleagues, while the private sector employers would also be represented.

  • Reps issue deadline for Eurobond, Committee reports

    The Speaker of the House of Representatives, Yakubu Dogara yesterday issued an ultimatum for the submission of reports on the request of the Federal Government for a resolution of the National Assembly for the issuance of $500 million Eurobond in the International Capital Market (ICM) for the funding of the 2016 budget deficit.

    Speaking yesterday at plenary, Dogara  said the House Committee on Aids, Loans & Debt Management should submit the report on the  $500 million Eurobond request by  March 7 to enable members debate and if necessary adopt its recommendations.

    The committee is headed by Olayinka Ajayi (APC Osun).

    The Federal Government had requested for a resolution of the National Assembly for the issuance of $500 million Eurobond in the ICM for the funding of the 2016 budget deficit.

    The request was contained in a letter signed by the Acting President Prof. Yemi Osinbajo and addressed to the Speaker of the House of Representatives.

    According to the government’s letter, in line with the requirement of securities issuances in the ICM, a specific resolution of the National Assembly is required as a firm confirmation of the approval of the Legislature for the Federal Government of Nigeria to borrow the $500 million through the issuance of a Eurobond Debt Instrument in the ICM.

    Also, the Speaker at plenary yesterday announced tomorrow as deadline for the reports from standing committees of the House on the 2017 budget Defence sessions held with Ministries, Departments and Agencies (MDAs)

    The Green Chamber had earlier announced February 24 deadline for the submission of the reports on budgets from the various standing committees. However, many of the committees could not meet the deadline.

    The House had twice suspended plenary to allow committees have robust budget defence sessions with the MDAs under their supervision, with the hope that they would also have adequate time to prepare and submit their reports.

    The budget session reports which were meant to be submitted to the House Committee on Appropriations, According to the Speaker, Is holding up further deliberations and forward movement in the consideration of the 2017 budget.

  • Committee to auctioneers: ignore former exco

    The Caretaker Committee of the Nigeria Association of Auctioneers (NAA) has advised members to ignore anyone claiming to be its national president.

    The committee, in a statement in Lagos, said the Aliyu Kiliya-led executive council had been dissolved.

    The statement by the committee reads: “At the end of the Caretaker Committee meeting of (NAA) with the three registered Board of Trustees in Lagos on Thursday, 23rd February, it was resolved and agreed that a meeting with all state chairmen be slated to hold in Abuja on the 16th of March. The venue, time and agenda of the meeting shall be forwarded to all concerned. We appreciate your patience and understanding to reposition the association for the betterment of all.

    “The former exco led by Alhaji Aliyu Kiliya is directed to hand over all the association’s property to the caretaker committee. All members should disregard any information or instruction from Aliyu Kiliya-led exco. Any move by the Kiliya’s exco for the settlement is welcomed by the Trustees.

    “The former exco led by Alh Aliyu Kiliya are advice to stop parading themselves as the executive of the association in their own interest.”

    The body also pointed out that Adewale Yusuf is the leading counsel to the Board of Trustees (Chief Suaibu Akan, Alh Fatai Mogbonjubola and Pa Suara Ade Ajuwon) in the suit filed against it by Kiliya.

     

  • SON sets up committee on standard for electricity meters

    SON sets up committee on standard for electricity meters

    The Standards Organisation of Nigeria (SON) has set up a committee to ensure that electricity meters imported or assembled in Nigeria meet the standards of the International Electrotechnical Commission and the International Organisation.

    Its Director-General, Mr. Osita Aboloma, stated this at a meeting  of the technical committee in Lagos.

    Aboloma, who was represented  by the Head, Ports and Borders Operations, Albert Wilberforce, said the meeting was informed by the need to ensure that electricity meters met the needs and aspirations of consumers and service providers.

    He said: “We have had issues with people relating arbitrary charges by service providers. Some complain that what they are charged does not make sense to them given that it is not commensurate with the service rendered. So, we want to adopt the internationally accepted standards in line with what obtains in the international community to meet the desires and aspirations of the Nigerian consumers as well as the manufacturers. SON is an unbiased umpire meant to protect the interest of all stakeholders in the sector.”

    SON’s Group Head, Electrical and Electronics Department, Mr. Richard Adewumi, said the committee, which comprised consumers, service providers and experts in the sector, would deliberate on the IEC document and look at areas that could be adapted to suit the environment.

    He added that China had invented standards that were different from the IEC, noting that the operators  would be informed that any meter that did not meet the IEC standards would not be accepted in Nigeria.