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Tag: Edward Adamu

  • Osinbajo inaugurates committee on policies, projects audit

    Vice President Yemi Osinbajo on Friday inaugurated the Policies, Programmes and Projects committee recently set up by President Muhammadu Buhari.

    President Buhari set up the 15-member committee, chaired by the vice president, to take stock of the administration’s efforts so far and to make concrete preparations for the second term in office, which begins on May 29 this year.

    The terms of reference of the committee include “to audit and determine the status of implementation of policies programmes and projects either inherited or commenced by the out-going administration;” and “to identify and highlight a residue of works and challenges that may militate against their successful implementation.”

    The committee will also “prepare and produce a detailed working document that will guide the incoming cabinet members on the direction of government regarding policies, programmes and projects;” and “co-opt organisations or persons relevant towards the successful execution of the exercise and make recommendations as may be considered necessary.”

    Other members of the committee are Chief of Staff to the President, Head of Civil Service of the Federation, Minister of Budget and National Planning and the Minister of Finance.

    The Minister of Power, Works and Housing, the Attorney General of the Federation (AGF) and Minister of Justice, Minister of Industry, Trade and Investment, Minister of Transportation and the Minister of Agriculture and Rural Development are also members of the committee.

    Also in the committee are the Minister of Water Resources, the Governor of Central Bank of Nigeria (CBN), the National Security Adviser and the Permanent Secretary, Cabinet Affairs Office and the Deputy Chief of Staff to the President.

    READ ALSO: Osinbajo inaugurates sanctions committee

    Inaugurating the committee, Vice President Osinbajo said the committee would, “in the next few weeks, determine the current status of and performance on federal government projects and programmes, relying not just on submissions made by the various ministries, department and agencies but also on objective assessment of experts already engaged on similar assessments and will be co-opted to assist in this mission.

    “They will also be required to produce a detailed implementation plan based on the Economic Recovery and Growth Plan, ERGP and on several documents, including the Next Level Document.”

    Prof. Osinbajo said the plan was aimed at ensuring the preparation of a working document that would guide in the implementation of federal government projects and programmes, and especially serve as an important guide for ministers in the new cabinet.

    “It is important to note that the review of ongoing projects is already an entrenched activity of this government.

    “In fact, status reports were presented to the Federal Executive Council by all ministers between January and May last year and those reports only need updating for the purpose of this committee’s work.

    “Also government plans are always guided by the manifesto of the All Progressives Congress, the basis of the promises which we made to Nigerians, and also by the ERGP, where we strive to reflect not just our annual budgets but policies and programme and implementation plans of the government.

    “Of course, this would be supplemented by the updates made by the party manifesto by way of the next level government.”

    The vice president said the policy, programmes and projects audit committee would also ensure that there would be objective report, critical analysis and realistic projections that would constitute clear guidelines for each cabinet minister.

    “We will focus on ensuring that we have for the incoming cabinet a clear presentation, ministry by ministry, what government needs to do, the challenges to be envisaged and the implementation plan.”

    He said the members of the committee would be required to work with teams of their own choice.

    Absent at the inauguration on Friday, the Attorney-General of the Federation and Minister Justice, Abubakar Malami, sent in his apologies.

    The Head of Service of the Federation, the Governor of the Central Bank of Nigeria and the Minister of Transportation were represented by Magdalene Ajani, Edward Adamu and John Eboigbe, respectively.

  • Treat Naira with care, CBN urges Nigerians

    The Central Bank of Nigeria (CBN) has once again called on Nigerians to handle the Naira with care, as it was a symbol of the nation’s identity and pride.

    The Deputy Governor, Corporate Services Directorate, Mr Edward Adamu, reiterated this on Tuesday in Abuja at CBN’s 2018 International Museum Day celebrations.

    He said the CBN housed the Currency Museum, which explained the evolution of money in Nigeria from the pre-colonial era to the contemporary times.

    He said the CBN hoped that through the activities of the Currency Museum members of the public would be better educated on how to properly handle the naira and other related matters.

    “The Naira as a symbol of our national pride should not be sprayed or step on, should not be squeezed defaced or stained.

    Read Also: Banks sabotaging efforts on new naira notes, says CBN

    “The naira should not be sold or counterfeited.

    “Be a role model by neatly arranging the Naira in pouches, wallets or envelopes, he said.

    Also, the Deputy Director, Currency Operations Department, Mr Vincent Wuranti, said the way and manner people handled the Naira affected its life span.

    He explained that a lot of effort was put into the design and production of the nation’s currency, hence the need to respect it.

    According to him, the different banknotes feature portraits of Nigerian heroes, agriculture, solid minerals and other things that illustrate the Nigerian culture and economy.

    Section 21 of the CBN Act 2007 states that the abuse of Naira such as squeezing,  staining,  writing,  spraying and illegal sales amongst others are punishable offences.

    The act states that the offender must pay nothing less than N50, 000 or face a jail term of six months or both.

    Section 20 (4) of the CBN act 2007 provides penalty of not less than five years in jail for counterfeiting the Naira with no option of fine.

  • New CBN deputy govs, MPC members assume office

    Mrs Aisha Ahmad, and Mr Edward Adamu have formally assumed office as Deputy Governors of the Central Bank of Nigeria ( CBN ), following the confirmation of their appointments on March 22 by the Senate.

    According to a statement signed by the bank’s acting Director, Corporate Communications, Mr Isaac Okoroafor on Wednesday in Abuja,  Prof  Adeola  Adenikinju, Dr Robert Asogwa and Dr Aliyu Sanusi also commenced their tenure as Members of the Monetary Policy Committee ( MPC ).

    Okoroafor said CBN Governor, Mr Godwin Emefiele, congratulated them on their respective appointments and subsequent confirmation by the Senate.

    Emefiele expressed gladness that the bank now had a full complement of Deputy Governors to enable it operate optimally as well as the required quorum to enable the MPC hold its statutory meetings for formulating monetary and credit policy.

    He, therefore, charged the Deputy Governors and MPC members to bring their experience to bear in the discharge of their new responsibilities, stressing that much was expected of them.

    According to Okoroafor, the two Deputy Governors and the three new MPC members later took their Oaths of Office, administered by the acting Director, Corporate Secretariat at the CBN, Mrs Alice Karau.

    Thereafter, the Director, Monetary Policy Department, Mr Moses Tule, read out the Charter of the MPC to new members and then they retired into their first MPC retreat.

    The retreat is in preparation for the first MPC meeting for 2018 scheduled to hold on Tuesday, April 3 and Wednesday, April 4.

    NAN

  • Senate confirms CBN deputy governors, MPC nominees

    The Senate on Thursday confirmed the appointments of Mrs. Aisha Ahmad and Mr. Edward Adamu as Deputy Governors of the Central Bank of Nigeria.

    It also approved the nomination of three out of four members of the Monetary Policy Committee (MPC).

    The MPC members confirmed are – Prof. Adeola Festus Adenikinju, Dr. Aliyu Rafindadi Sanusi and Dr. Robert Chikwendu Asogwa.

    However, the upper legislative chamber rejected Dr. Asheikh A. Maidugu’s nomination.

    The confirmation followed the adoption of the reports by the Senate Committee ‎on Banking, Insurance and Other Financial Institutions, which screened the nominees last week.

    In the report presented by Chairman of the Committee, Senator Rafiu Ibrahim, the panel said Maidugu was considered not qualified to occupy the position for which he was nominated.