The Nation Newspaper

Tag: fast-track

  • ‘Oradian will fast-track CBN’s financial inclusion target’

    Afinancial inclusion firm, Oradian, said it will fast-track the Central Bank of Nigeria’s (CBN’s) financial inclusion strategy through its community of visionary microfinance institutions, microfinance banks (MfBs) and cooperative societies in the country and the West African sub-region.

    Oradian Co-founder/Chief Executive Officer Antonio Separovic said: “Strategic partnerships within the digital ecosystem are proving to be the most effective way to enable our customers to provide better service to their end-clients.”

    It said it would do this through its cloud-based core banking system (CBS) Instafin through which financial institutions are enabled to grow and reach more clients with digital financial services.

    The company’s mission – to boost financial inclusion by delivering the tools financial institutions need to reach more clients in rural communities – supports Nigeria’s goal to reach 80 per cent financial inclusion by 2020 as stated by the CBN.

    Oradian Co-founder/Head of Implementation, Onyeka Adibeli, said the cloud-based CBS enables financial institutions to go digital. Paired with guidance and support from our in-market teams, we are enabling the successful digital transformation and implementation of global best practice for our community of financial institutions.

    To accelerate financial inclusion in the country and  share best practice for going digital with cloud technology, Oradian will host a dinner tomorrow in Lagos as part of the Africa Banking and Finance Conference.

    Oradian is demonstrating the value of strategic public-private partnerships in Southeast Asia with the Asian Development Bank (ADB) and Cantilan Bank, one of the top rural banks in the Philippines.

    Backed by a $150,000 ADB grant, Cantilan Bank will use Oradian’s toolset to demonstrate how cloud technology can unlock financial opportunities by providing access to financial services for hard-to-reach individuals in rural areas.

    Oradian’s toolset, including Instafin, delivers three key business benefits to financial institutions: improved efficiency with digital processes and operations, informed decision-making with real-time data and reporting, and growth without incremental cost. Oradian provides access to its toolset using a subscription model, eliminating financial barriers that prevent financial institutions from accessing leading technology.

     

     

    Separovic and Adibeli will lead Oradian’s dinner will be joined by Eric Elango, Oradian’s Business Development Manager, who specialises in working with financial institutions to align their business strategy with their technology strategy.

    Together, Oradian will continue building strategic partnerships with key financial inclusion leaders and visionary financial institutions in West Africa to provide access to financial services to more clients and to fast-track CBN’s financial inclusion goal for 2020.

  • Senators to fast-track NFIU

    Senators to fast-track NFIU

    A bill which aims to separate the Nigerian Financial Intelligence Unit (NFIU) from the Economic and Financial Crimes Commission (EFCC) scaled first reading in the Senate yesterday.

    This is coming less than 24 hours after the upper chamber raised the alarm over the suspension of Nigeria by the Egmont Group of Financial Intelligence Unit.

    The Bill, sponsored by the Chairman, Senate Committee on Anti-Corruption, Senator Chukwuka Utazi (Enugu North), seeks to create autonomous NFIU, which will not be domiciled in the EFCC.

    The move to create an independent NFIU is line with the demand of the Egmont Group of Financial Intelligence Unit which had given the country December 2017 deadline to comply or risk expulsion from the group.

    The Senate had on Wednesday debated the suspension of Nigeria from the Egmont Group for failing to grant autonomy to the NFIU.

    The upper chamber declared its intention to give an accelerated hearing to the Bill to ensure that the NFIU becomes independent before the December 2017 deadline given by Egmont Group.

    Shortly after the Bill scaled first reading, Senate President, Abubakar Bukola Saraki, directed the Business and Rules Committee to ensure that the Bill was scheduled for Second Reading on Tuesday next week.

    Chairman, Senate Committee on Media and Public Affairs, Senator Aliyu Sabi Abdullahi told reporters that the Senate does not want anybody to doubt the supportive role of the upper chamber to the fight against corruption in the country.

    The Senate Abdullahi said, has its own input to make to ensure the success of the anti-graft war.

    He noted that for any anti-graft agency to succeed in its task, it must share intelligence report with sister agencies in the world.

    He said: “Our worry is that Nigeria was suspended from the Egmont Group basically because NFIU has not been granted autonomy and still domiciled in EFCC. The essence of it is that in sharing intelligence, there are protocols that must be respected. The Senate is committed to ensuring that the right thing is always done. We must be proactive. If you strengthen the NFIU you are strengthening other intelligence units in the country.”

  • NCDMB, IOCs pledge to fast-track projects execution

    NCDMB, IOCs pledge to fast-track projects execution

    The Nigerian Content Development and Monitoring Board (NCDMB) and international oil companies (IOCs) operating in the country have made commitment to fast-track execution of oil and gas projects. This will lead to an increase  crude production and create opportunities for the growth and development of Nigerian Content.

    The IOCs gave the assurance when the Executive Secretary of NCDMB, Simbi Kesiye Wabote visited some IOCs in Lagos to seek collaboration and get their commitment to support upcoming projects.

    Wabote visited Chevron, Total Upstream and Shell with top management of the Board and confirmed that NCDMB had adopted mechanisms that accelerate processing time for Nigerian Content plans, technical and commercial evaluation and issuance of Nigerian Content certificates.

    He urged other entities involved in the contracting cycle to adopt similar strategies for the sector to achieve the six-month contract processing target set by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu. He also expressed the Board’s readiness to partner various stakeholders in resolving challenges they have in executing their projects.

    According to him, the visits were conceived to engage stakeholders, and explain strategies adopted by the NCDMB to foster projects and ensure domiciliation of work scopes and maximisation of in-country capacities.

    One of those strategies is the categorisation of service companies by their capacities, which he said, will be used in the contracting process.

    He stressed that all new projects must comply with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010 and urged the operating companies to ensure that their contractors and sub-contractors remit one per cent of their contract value to the Nigerian Content Development Fund (NCDF) as required by law.

    The NCDMB chief praised the establishment of pipe coating facilities and steel pipe mills in-country and directed operators to patronise the facilities. He said the Board would sanction operators that award contracts without approved Nigerian Content Compliance Certificates (NCCC).

  • NAFDAC, SON to fast-track grant of licences, approvals

    NAFDAC, SON to fast-track grant of licences, approvals

    The National Agency For Food, Drugs Administration and Control (NAFDAC) and the Standards Organisation of Nigeria (SON), have undertaken to grant licenses and approvals to Small and Medium Scale Enterprises (SMEs) within 90 days,

    They gave the commitment to the Acting President, Yemi Osinbajo, during a follow-up meeting he had with the Abia State Governor Okezie Ikpeazu, and SMEs stakeholders from the state and some Federal Government regulatory agencies in Abuja.

    Osinbajo had called on the  government’s regulatory agencies to act as catalysts of beneficial change and to take responsibility for facilitating businesses in the country. “We must see ourselves as agents of some catalytic change, we must take some responsibility to make profound changes possible,” Osinbajo told regulatory agencies, according to a statement endorsed by the Senior Special Assistant on Media & Publicity to the President Office of the Vice President, Laolu Akande.

    The Acting President had visited Aba to kick-off the Presidency’s MSMES Clinics where medium and small scale businesses are brought together in one spot with Federal Government regulatory agencies they interface with.

    At the meeting, also attended by the Industry, Trade and Investment Minister-Dr. Okey Enelamah, and the Minister of State in the ministry, Mrs. Aisha Abubakar, the Acting President directed both NAFDAC and SON to give specific timelines within which they would grant licences and approvals required of them by business interests.

    SON Director-General, Mr. Aboloma Osita, who attended the meeting announced that within 60 days,  the agency will issue required approvals, while the Acting Director-General of NAFDAC, Mrs. Yetunde Oni also said within 90 days the agency would issue all required licenses.

    Both officials said the timing starts from the day the requests are submitted.

    According to the Acting President, regulatory agencies such as NAFDAC and SON would be judged by how many people, businesses they are able to support “to achieve the greatest public good.”

    He commended the Abia State governor for his drive, adding that ‘Made-in-Aba’ products are now acquiring a mark of quality.

    Said he: “like I said during my visit to Aba, you can’t have any serious kind of industrialisation in this country, without a focus on Aba.”

    He also met with the Governors of Cross Rivers, Senator Ben Ayade; Akwa Ibom, Mr. Emmanuel Udom and Ebonyi State, Mr. Dave Umahi, alongside top officials of the National Boundary Commission, led by the Director-General, Dr. Muhammad Ahmad, to review updates on boundary  and boundary demarcation issues.

     

  • We’ll fast-track budget passage, says Gbajabiamila

    We’ll fast-track budget passage, says Gbajabiamila

    House of Representatives Leader Femi Gbajabiamila yesterday said the nation’s lawmakers would work towards speedy passage of this year’s budget.

    But he said they would not sacrifice thoroughness in doing so.

    Gbajabiamila spoke with reporters in Lagos on the occasion of his constituency’s celebration of the New Year baby at the Maternal and Child Care Hospital, Surulere, Lagos.

    He also donated gift items to children with health challenges at the Heart of Gold Children’s Hospice, also in Surulere, to mark the New Year.

    The lawmaker said though the budget was presented late, efforts would be put in place to pass it promptly.

    “It’s unfortunate that the budget was presented late. I have always been an advocate that budget be presented in September or first week in October as done in advanced democracy.

    “You don’t present the budget late in December and expect quick passage. The financial year is supposed to start by December 31 or January1.

    “We cannot sacrifice thoroughness and good work on the altar of time, we still need to do our work; we will ensure we fast-track the passage in the shortest possible time.

    “When we go back to the house, we will double and triple all efforts and make sure that this budget is passed on time,” he said.

    Gbajabiamila said that hopefully, the budget would revive the country’s economy and make life better for Nigerians.

    “The good thing is that the budget year has been extended to March and there are safeguards in the constitution that provide that when the budget has not been passed during a certain period, there are certain things that can be done to keep the government running.

    “But the budget will be passed soon and like it has been tagged -‘Budget of Recovery and Growth’, hopefully, that is what we will see in 2017,” he said.

    President Muhammadu Buhari on December 14, 2016 in Abuja, presented a budget proposal of N7.30 trillion for 2017 before a joint session of the National Assembly.

  • Senate panel to fast-track FHA’s restructuring

    Senate panel to fast-track FHA’s restructuring

    The Senate Committee on Housing has promised to work with relevant agencies to fast-track the restructuring and commercialisation of the Federal Housing Authority (FHA).

    Its Chairman, Senator Barnabas Gemade, made this known in Abuja when he led his colleagues on an oversight visit to the Authority’s headquarters.

    He said urgent legislative action was required to fast-track the reform and commercialisation of the FHA which had been on-going since 1992.

    He said the planned amendment would strengthen the Authority and return it to its pride of place as an effective national instrument for housing delivery.

    The lawmaker, who was accompanied by four of his colleagues, noted that the fortunes of the FHA has been adversely affected by somersaults in government’s policy. He said the removal of the FHA from government funding had stacked the odds against the agency and affected its ability to deliver on its mandate.

    To strengthen the FHA, Gemade promised that his committee would explore the possibility of its benefitting from the Central Bank’s N30 billion Real Estate Development Intervention Fund. To this end, he directed the Authority’s Managing Director, Prof. Mohammed Al-Amin, to furnish his committee with a list of all its completed and on-going housing projects, including partnership projects, loan portfolio, and nominal roll.

    During a visit to the FHA/ENL Paradise Hills Estate, Apo, Abuja, Gemade expressed satisfaction with the quality of work done on the houses.

    He said FHA demonstrated a high level of professional competence in delivering quality houses for medium and high income earners and urged it to brace up to build houses for millions of the nation’s low  income earners.

    Al-Amin said there was need to strengthen the Authority’s ability to deliver on its social housing mandate through special subventions and regular budgetary allocation.

    He appealed to the committee to hasten work on the amendment of the law establishing it. He said the FHA depended solely on public- private partnerships to deliver houses since the government funding for it stopped.

  • Benue sets up panel to fast-track bailout payment

    The Benue State Executive Council (Exco) yesterday set up an eight-member committee to fast-track the payment of the balance in the account of the Bureau for Local Government and Chieftaincy Affairs to the beneficiaries.

    Governor Samuel Ortom, who presided over yesterday’s meeting, announced that his Special Adviser on Labour and Employment, Ms Patricia Kupchi, would chair the committee.

    He said her colleagues – Joe Kyaagba (Special Duties); Sarwuan Tarnongu (Politics); Tsenongo Abancha (Rural Development and Cooperatives); Adzer Abya (Research and Statistics); Dr Magdalyne Dura (Development Cooperation, Sustainable Development Goals and New Partnership for Africa’s Development); as well as Dr Bem Melladu (Economic Development) – are members.

    The council directed the committee to liaise with directors-general for Services and Administration, Treasurers, and Education Secretaries in the 23 local government areas of the state to collate the names of those who have not been paid and others with complaints.

    The committee was also directed to work with the standing bailout committee and the Information and Communication Technology (ICT) centre at the bureau.

    A statement yesterday in Makurdi, the state capital, by the Commissioner of Information and Orientation, Chief Odeh Ageh, said the council urged the members to evolve strategies that would ensure that the beneficiaries are paid as soon as possible.

     

  • ‘Fast-track title deeds issuance to aid agric growth’

    ‘Fast-track title deeds issuance to aid agric growth’

    The  Federal Government has been urged  to hasten the process of issuing of title deeds and formulate regulations to promote agricultural   investments and economic growth.

    The  Director, Africa Region,  Cassava Adding Value to Africa, Prof Kola  Adebayo, said there was  need  to  restore   sanity within  the  system  to activate agro  business growth.

    He   said delays in the issuance of titles led  to loss of business opportunities for citizens and private sector players.

    According to him,  mega food  processing  investment projects, within  the  sector   need to be guided by investment regulations, adding  that  delays in issuance of land title deeds  result in delays   in the execution of  such  projects.

    He said land owners of large companies and farms suffer a lot   owing to the incessant disputes between such  organisations  and the  communities, urging  the  government  to step into the  situation in the interest  of  agriculture.

    He  stressed that land is the chief, primary input in all agricultural production.

    With  the demands the  population is placing on land resources, the  expert  said  there  is  need  for  the  government  to think about the most effective ways to organise land ownership and use  to  boost food security.

    When land users feel secure that their land will belong to them as long as they wish to keep it, that it will not be arbitrarily seized by other land-using groups, or forced out of agricultural use by encroaching development, then, they   more likely to invest in the long-term development .

    For the  government ‘s  agricultural expansion  dream   to become a reality,he  emphasised  that smallholders’ rights to own and transfer land must be secured so that they can either be officially incorporated into agricultural development schemes .

    He blamed the emergence of the cartels on past poor regulation and lack of awareness by the farmers.

    Adebayo  said the need to ensure the interests of the  farmers are well protected against exploitation by middlemen and brokers as   trade malpractices,  have   led to price distortion and market segmentation thus barring entry of new players who are ready to offer  prices.

    He said the majority of the cartel groups are to blame for the rampant smuggling of the commodities across the borders, leading to loss of billions of money to the government and farmers.

    Also, in some industries the cartel groups are cheating farmers to enter into dubious contracts a few months after planting and before harvesting. Through the suspicious contracts, he said growers were cheated to dispose of their produce.

    The farmers, he added, were forced to grow the crops on behalf of the traders and after harvest, the grower had nothing to celebrate.

    This, according to him, has denied the growers full ownership of the crop and equally limit his chances of earning more from produce, thus leading to grinding poverty and under development.

    The cartels, he  noted,  trigger artificial shortage of commodities in the local market so that they can exploit  farmers through inflated prices and force government and other value chain players to import.

    He  called  on the government to improve the distribution and storage structure  and  to set up marketing  boards  to  assist farmers buy up their produce.

  • Reps move to fast-track PIB passage

    The House of Representatives, on resumption from a two-month break yesterday, moved to fast-track the passage of the Petroleum Industry Bill (PIB).

    Speaker Aminu Tambuwal, who gave the directive while declaring open the fourth legislative session of the Seventh Assembly, at a plenary, gave the ad hoc committee on PIB 21 days to complete work on the piece of legislation and submit its report.

    Nigerians believe the proposed PIB, seen as an omnibus law for the petroleum industry, will address the negative attributes in the oil sector and that it is the only way to maximise the benefits accruable in the sector.

    The House had set up a 23-man ad hoc committee headed Mohammed Isiaka Bawa to fine-tune the PIB, as the draft legislation passed the second reading.

    It also conducted a regional public hearing as part of efforts to take the input of Nigerians on the proposed bill. This was followed by another technical committee put in place by the Speaker after the regional public hearing, which was done in the geo-political zones.

    Yesterday’s ultimatum seemed to be an apparent response to the clamour by Nigerians for the quick passage of the PIB and the promise of the House that it would be passed before the expiration of the Seventh Assembly.