The Nation Newspaper

Tag: money

  • Mobile money transactions hit N98.1b

    Mobile money transactions hit N98.1b

    •‘46% financially excluded’

    The Minister of Communications Technology (ComTech), Dr. Omobola Johnson has said total transactions achieved through the use of mobile money since it was introduced about four years ago has hit $600million (about N98.1billion) while total number of people that have subscribed to the initiative is also about one million.

    She lamented that while the situation is gradually improving, currently 35 million adult Nigerians (about 46 per cent) are financially excluded.

    Dr Johnson who spoke at the Centre for Value and Leadership (CVL) Economic Growth Sectorcelebration in Lagos, said more people in Nigeria have a mobile phone than have a bank account, adding that 75 per cent of adults living in urban areas and 39 per cent of them living in rural areas have access to a pre-paid mobile phone services.

    According to her, 18 mobile money operators have so far been registered while since the commencement of operations, approximately one million people have subscribed to the alternative payment platform.

    She said about 67,000 persons have been registered as agents while over 11million transactions of over $600million have been conducted

    “While uptake has been initially slow, improving infrastructure, fine-tuning of legislation and increasing confidence in product by consumers will result in significant acceleration

    “Mobile money is currently mostly used to buy airtime; it however has the potential to serve as a platform for drawing more people into formal financial services,” she said.

    She lamented that analysis has shown that a significant proportion of payments in the country are cash based with total payments estimated at $695billion (about N113.7trillion) per annum. Of these, cash accounts for over 90 per cent of transactions in terms of volume, and about 60 per cent in total value

    “Bank transfers and cheque payments combined make up less than 0.5 per cent in terms of volume and approximately 38 per cent in terms of value.

    “Other digital forms of payment are increasing in volume however they currently make up only about two per cent in value

    “Most payments (in terms of value) are between businesses and persons (B2B, B2P, P2P); government payments however have high potential to change the payment landscape of the country,” the minister said, adding that cash-based transactions are not only expensive but risky and promote insecurity in the financial system and the country.

    According to her, to redress this situation, the Federal Government has started implementing policies to increase the adoption of digital forms of payments with information communications technology (ICTs) being at the heart of the success of such policies, especially in the area of providing infrastructure for the delivery of services, applications for management, security and adoption of services.

    She said: “Although the situation is improving, currently 35 million adult Nigerians (about 46 per cent) are financially excluded. Adoption of products and services not supplied by deposit money banks have contributed the most to reducing exclusion (that is. the “formal other” category).”

    According to her, specific policies and legislation crafted relating to the development of the ICT sector include: National ICT Policy of August 2012; National Broadband Plan 2013-2018 of May 2013; and Guidelines for Nigerian Content in ICT of November 2013

    She explained that while the Connect Nigeria initiative was aimed at speeding up the building out of communications infrastructure so that all Nigeria has access to good quality and affordable, high-speed telecom and internet services, Connect Nigerians ensures that Nigerians have affordable and convenient access to devices and have the capacity to use them; so that all could share in the benefits of ICTs.

    Local Content in the industry is also targeted at lowering the barriers to entry and increase the participation of indigenous companies in the ICT sector and stimulate job creation in the industry

    Other measures include “Increase the adoption of ICTs by government to achieve greater transparency, efficiency, and productivity in governance and citizen engagement; implementing a national broadband strategy and roadmap that seeks to increase broadband penetration from six per cent to 30 per cent by 2018; 3G/LTE Wireless Broadband Coverage to 80 per cent of the population; Fixed broadband to 16 per cent of population based on fibre by 2018; Minimum download speeds of 1.5 Mbps; and Open Non-Discriminatory Access.”

  • Inside the $1billion ‘money spinner’ called Kashimbila Dam

    Inside the $1billion ‘money spinner’ called Kashimbila Dam

    Over 30 million Nigerians and thousands of livestock and hectares of land will be destroyed in Taraba, Benue, Cross River, Kogi, Anambra, Delta and Bayelsa states, if the Lake Nyos in Cameroon collapses. But, the antidote to this is the Kashimbila multipurpose dam in Taraba State, which aside preventing the disaster can also rival the Obudu Ranch Resort and generate electricity. December deadline has been set for the project, which was at some point abandoned and all eyes are on the Federal Government to see it through, reports Seun Akioye

    On September 2, at about 9am, Minister for Water Resources Mrs. Sarah Ochekpe was addressing the African Ministers Conference on Water (AMCOW) at the World Water Week in Stockholm, Sweden. Her presentation titled: “Creating efficient mix in water supply, irrigation and hydropower projects” was one eagerly awaited by the over 100 participants consisting of stakeholders in Africa’s water and energy industry.

    Ochekpe spoke mainly about the Kashimbila dam, located in Taraba State. The dam, according to her, was built to serve as a buffer in the eventual collapse of Lake Nyos in Cameroon. It also occurred to the government to convert it to a multipurpose dam that will serve agriculture, water supply and energy.

    “The Kashimbila dam project was conceived with the principles of integrated water resources management in mind, understanding that water drives the economic and social development of nations. In developing the dam, a holistic approach to water management in which many different aspects are closely connected and work successfully together was adopted,” she said.

    The minister said the dam is a fully funded project of the Federal Government- something not common with big projects in Africa- and that it has cost the taxpayers about $1billion.

    This revelation threw the group of ministers and participants into a frenzied mood. Many who spoke afterwards praised the initiative of the Nigerians but conceded their government will not be able to afford such a gigantic project, such as Kashimbila. Others asked for some experts’ help from the Federal Government.  In that room in Stockholm, Kashimbila was a far flung place, about 20 kilometers to Cameroon on the Northern fringes of Nigeria. But, Kashimbila began to take a realistic shape as soon as one gets on the road for a visit.

     

    The turbulent Lake Nyos

     

    Almost every senior official at the Ministry of Water Resources agreed that Lake Nyos, located in Northwest region of Cameroon about 315km northwest of Yaounde will collapse. The United Nations Environment Programme (UNEP) thought so too.  For many years, volcanic activities have been active on the lake sending out carbon dioxide and killing scores of people and animals.  On August 21, 1986, Lake Nyos suddenly emitted a large cloud of CO2 gas which caused intense suffocation killing 1,700 people and 3,500 livestock in nearby towns and villages.

    To prevent a reccurrence, a degassing tube was installed in 2001, which leaked the carbon dioxide in safe quantities.

    In September 2005, UNEP commissioned a study of the lake and submitted that due to structural deficit, the lake would collapse within 10 years. But, the lake poses a great threat to Nigeria, according to the report, the structural instability of the lake arising from the constant erosion-about 90 cm a year of the embankment and the constant build-up of carbon dioxide beneath the lake bed is still a threat to many Nigerian states.

    Ochekpe did not mince words to the gathering of her fellow African water resources ministers when she said Nigeria was at great risk from the predicted collapse of the lake.

    “The lake is seated on a pyroclastic rock which is weathering away at its base at the rate of 1m per annum. The imminent collapse of the lake will send over 30million cubic metre of water into Kastina-Ala River in Nigeria all the way to the Niger Delta, through the Benue and Niger river system,” she said.

    There are more bad news: The wave from the lake will arrive in Nigeria within eight hours at the height of about 4meters. The impact will displace over 30 million Nigerians and thousands of livestock and hectares of land will be destroyed in Taraba, Benue, Cross River, Kogi, Anambra, Delta and Bayelsa states.

    In January 2006, former President, Olusegun Obasanjo after consultations with various stakeholders approved that a buffer dam be constructed across Kastina-Ala River and by April 2007, the contract was awarded to Messrs SCC Nigeria Ltd.

     

    Inside Kashimbila dam

     

    Michael Rolbin has spent the last three years working on the Kashimbila dam almost twenty four hours every day. As the Project manager of the SCC managed multi-billion naira Kashimbila dam project, the successful completion of the project rests on his judgement.

    “This is my home,” he said, waving his hand in a semi circle to indicate the construction site. He was standing on top of the dam with officials from the Ministry of Water Resources and Tourism. “We have been working here for 24 hours for two years. This is hard work.”

    Rolbin did not exaggerate. When the project was first inaugurated in 2007, the construction company moved to site and began the foundation work. But, government was to abandon the project until 2010 when President Goodluck Jonathan resuscitated the project, a December 2014 deadline was set and since then, it has been a race against time.

    The dam is situated on river Kastina-Ala, which is between the towns of Kashimbila and Gamovo in Taraba.  Kashimbila is a product of nature’s wonder comparable only to the mountainous beauty of Obudu. The town is surrounded by hills and many rocks rest on the hills. The dam is located on a valley and the rocks divided it from Cameroon.

    Dawn comes early to Kashimbila and the surrounding mountains and every morning the clouds rose from within the mountain bringing with it a cool, fresh wave of air often unavailable in the cities.

    The dam is built about five kilometers from the village. Along the road is the guest quarters where visitors to the dam are lodged. Next to it is the labour camp where the workers also live. Everyone working on the dam lives close by and all the amenities are provided on the camp. Security is provided by a combined team of soldiers and private security companies.

    Even though the dam was originally constructed to prevent a catastrophic consequence of the eventual collapse of Lake Nyos, it has since been converted into a multipurpose dam.

    “Mr. President is very interested in this project. He insisted that every potential of the dam must be developed to the maximum,” Reginald Ikpeawujo, Director, Dams and Irrigation at the Ministry of Water Resources said.

    The dam has three components:  A 40 megawatt hydropower; water supply component, including a water treatment plant which will supply water to about 400,000 people and irrigation component, which will irrigate about 2000 hectares of farmland. On the fringe side is the provision for fisheries development, tourism and provision of water for sustenance of the environment and for downstream residents.

    According to Rolbin, work on the dam is 95 per cent completed. One of the iconic sights is the massive turbines, which will generate 40 megawatts of electricity. There are four turbines each with installed capacity to generate 10megawatt electricity.

    Rolbin and Ikpeawujo led the way through the water intake of one of the turbines. “This is one in a life time opportunity for you to see this turbine because once we  finish nobody else can see it,” Rolbin said.

    To access the base of the huge turbines, one would have to pass through the 3.5 diameter water intake outlet.  This is where the water that will power the turbines to produce the electricity that Nigeria badly needs will flow. Ikpeawujo looked on with pride.

    “There are four of these turbines, you can see from here how huge they. By the time we finished, we will generate 40 MW from this dam,” he said.

    The hydropower component is almost completed with only the transmission/evacuation line work being done by the Ministry of Power still in progress.

    The Kashimbila dam apart from being capital intensive is also a huge engineering challenge. The dam foundation was 30 meters deep; this is one of the “most challenging” aspects of the work due to what Ikpeawujo called the encounter with “strange rocks.”

    The embankment is also one of the iconic structures; it is 35m high and 1.585 km long while the spillway is 85,000m3 of concrete mix. The power house is a massive construction along with the raw water intake structure.

    The river diversion works began in April after which the dam works began across the riverbed. There is a connecting bridge across the river diversion channel which is 132 metres long.

    About 1000 meters from the dam is the huge water treatment plant  with installed capacity for 60,000m3. When completed, it will supply portable water to about 400,000 Nigerians.

    The dam also has a centre pivot  irrigation system component to about 2000 hectares of farmlands, which will benefit about 8,000 people. The survey work and demarcation of irrigable land have been completed. When in full motion, the irrigation project will also bring about micro-cottage industries and agro-allied development.

    And there is the reservoir development of about 500MCM, which will support fish farming of about five tonnes a day. In all, the dam when completed is expected to generate 1500 employment in the various sectors.

     

    Tourism potentials

     

    Dorothy  Duruaku, a Deputy Director at the Ministry of Tourism, Culture and National Orientation was savouring her first visit to Kashimbila. Her brief has been to work out how to harness the tourism potentials of the dam, what facilities to put in place and what is needed to develop a world class tourism infrastructure.

    Tourism has not always been a part of the plan at Kashimbila, but after his first visit, Jonathan fell in love with the environment and directed that its tourism potentials be developed.

    “It is going to be huge. We are going to have a hotel here. We have decided to have eco lodge. We thought we will be able to use the existing infrastructure but coming here we will need to build hotels, but the focus is eco-tourism,” Duruaku said.

    But, hotels are not the only facility the ministry is planning for, there will also be a museum, the wild park, a theme park and facilities for mountain hike.

    “We are working on the accommodation, the visitor’s centre, conference hall, mini theatre and the excursion facilities,” said Rolbin.

    The stakeholders at the Ministry of Tourism, Water Resources and SCC are already dreaming of world class facilities for tourism.

    “We can create a safari park, bring in wild animals. We will provide a cable car from the reservoir to the wild park. If any tourist chooses, he may go by the river boats,” an official of the ministry said.

    Duruaku said there would be mountain hiking, one that may one day rival the Obudu mountain relay. A picture of an early morning hiker came to mind, rising with the dawn and hiking directly into the clouds.

    Ikpeawujo believes there is a lot of potentials in Kashimbila to attract international tourists. “Dam sites all over the world are known to attract tourists. Here we have the beautiful hills and the scenery is one of the most beautiful in Nigeria,” he said.

    But, getting to Kashimbila is not an easy feat. From the Federal Capital Territory (FCT), Abuja, it is a straight eight hours drive through Nasarawa, Benue and Taraba states. This may prove a burden for intending tourists. However, the team already has a solution. At the entrance of the dam is a 1.6 kilometer long airstrip  and a tarmac which can accommodate two donnier aircrafts.  When Jonathan visited the dam, he directed that two additional lanes must be added to the airstrip to accommodate bigger planes.

    According to the plan, tourists who can afford it will have the option of flying directly into Kashimbila saving time and labour. Currently, there are no commercial operations into Kashimbila, though top officials and other important guests are already making use of the airstrip.

    “We have reached 95 percent completion and I can assure you we will deliver by December this year,” Rolbin said.

    When Ochekpe mentioned the cost of the dam during her presentation in Stockholm to be $1billion, it jolted not a few of the Africans. But, she defended the spending, saying every cost is justified. Ikpeawujo said when considered with the impending human catastrophe, if nothing is done, the cost is justified.

    “The cost is justified. Imagine how much damage in human and material if the Lake Nyos should fail and we have flooding in Nigeria. That is what the government is trying to prevent and it is justified,” she said.

    The government may have also been thinking about the revenue, which the lake will bring when fully utilised. This may have informed the decision to extend the focus of the lake into a multipurpose dam.

    In the morning, the Kastina-Ala River basks in its glorious splendor flowing southwards into the Benue River.  For many years, it has been a source of livelihood to the people of the surrounding communities. Soon, it will take a more dynamic role of saving lives and providing livelihood for more people from far and near. Two other rivers will join its southward journey along the way. All three rivers have their sources in Cameroon, which is about 20km from Kashimbila.

    “This is much better than Obudu,” Rolbin said as he stood surveying the airstrip, “Everything in Obudu is here and we have the advantage of the dam.”

  • UBA, pay me my money

    SIR: I am currently a member of the National Youth Service Corps (NYSC) serving Abuja. On August 3, I attempted cash withdrawals with my UBA MasterCard from the UBA branch opposite Central Bank of Nigeria (CBN), Makurdi for which I was debited N5,000 even though the Automatic Machine Teller (ATM) did not dispense the cash.

    I know it is small money but it matters a lot to me because it’s my sweat.

    I have gone to UBA branches in Keffi and Abuja, filled all manners of forms to no avail. I even called their head office but up till now I have not been refunded the money. It’s now over one and half months since the incident took place. This has caused me lots of inconveniences. Please, how do I get UBA to refund my money?

    Opaluwa Omera ,

    Abuja

     

  • GT Bank and First Bank should refund my money

    SIR: This is calling on the Guarantee Trust Bank (GT Bank) Plc and First Bank of Nigeria Plc to refund my money lost to the Automated Teller Machine (ATM) of First Bank in Ile-Ife. I have a bank account with GT Bank. On Wednesday, August 18, I made a withdrawal from the First Bank ATM at Lagere, Ile-Ife, due to inaccessibility to GT Bank ATM, where my account is domiciled. Unfortunately, the ATM did not dispense cash for me, on two attempts. Meanwhile, my account was immediately debited with N40, 000 cash I did not get; even before I could retrieve my Debit Card from the bank ATM.

    This happened on a Public Holiday (Isese Day – Traditionalists’ Day) declared by Osun State government. This made in impossible to immediately lodge a complaint to either GT Bank or First Bank.

    I have since lodged complaint with my bank, GT Bank, but the response is worrying. While, on the basis of constant pressure and after much delay, half of the money was remitted, the delay tactics being used by the GT Bank and First Bank, over the remaining N20, 000 (twenty thousand naira) shows desperate attempt to rip me off of the remaining money. Moreover, the caveat given by the staff that if my money is not refunded within eight working days, it will take eternity to correct the error is discomforting for me. It is already over three weeks since the issue occurred, with my bank not showing any further interest in remitting my money. I have lodged several complaint at the local branch of the bank, and through the customer service channels of the bank, meeting only cold responses.

    I find it very disturbing that a bank that is supposed to protect my account, but failed to do so, will feel uninterested in correcting its lapses, rather, will allow my hard-earned money to be played with anyhow. I suppose as a corporate organization, banks have responsibility towards customers and clients. Unfortunately, they seem to relish the pains customers go through. What if the only money I have is the money these banks are trying to rip me off of?

    This development, which of course many Nigerians face daily, has cast a serious doubt over the feasibility of the cashless policy. If big banks can be found wanting in protecting customers’ accounts in only ATMs, what will happen when there is proliferation of POS machines, where there will be higher volumes of transactions.

    I call on GT Bank and First Bank to immediately refund my money without delay.

     

    • Ibraheem Kolawole

    Ile-Ife, Osun State.

     

  • All set for Ogbia football tournament

    The maiden edition of the President Jonathan Ogbia Intercommunity Football Tournament  is set to kick off.

    The football event is sponsored by the George Turnah Foundation (GTF).

    The Chairman of GTF, Ebis Orubebe, said the tournament is aimed at uniting and uplifting Ogbia youths through football.

    “Our aim is to bring together the youths of Ogbia extraction through football. We at George Turnah Foundation are inclined to using football to send this message of unity.

    “It is Bar Turnah’s way of bringing development to the Ogbia kingdom. GTF did a similar thing during the 2012 flood disaster when we distributed relief materials all over the Niger Delta. In the near future, the foundation has plans to distribute free school materials to all primary and secondary schools in the state. “

    “Ogbia is made of up 54 communities and these 54 communities entered the first qualifying round.  From the first qualifying round, we will proceed to the second and final qualifying round after which 32 teams/communities will emerge.

    “After the draws, there will also be unveiling of the logo and mascot of the tournament. The overall winners of the competition will go home with N500, 000 while the runners up will pocket N300, 000 and the third place finisher, will get N200,000 as consolation prize money.”

  • ‘Why money laundering persists in Nigeria’

    Why is Nigeria vulnerable to Money Laundering and Terrorist Financing (ML/TF)? It is because of its economic side, rapid growth, insecurity in the Northeast and corruption, says, the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).

    The agency’s 2013 Annual Report obtained by The Nation said these problems,Nigeria remains the engine of growth in West Africa, adding that it holds the promise of human development in the region.

    GIABA advised against allowing Nigeria’s booming economy and financial system to be corrupted by financial crimes.

    It said so far, weaknesses in investigative and prosecutorial capacity as well as judicial corruption have blocked cases of financial crimes in the courts.

    “As a matter of urgency, the Government of Nigeria should grant the operational autonomy of the Nigeria Financial Intelligence Unit (NFIU) and facilitate the removal of obstacles to effective administration of justice with regard to ML/TF cases in the country,” it said.

    GIABA described Nigeria as a resource-rich country with fast-growing economy. “Nigeria is the largest oil producer in Africa and the 10th largest in the world, producing about 2.3 million barrels per day, and with 37.2 billion barrels of proven oil reserves. Nigeria’s economy represents about 55 per cent of the region’s Gross Domestic Product (GDP), and its population constitutes the largest market in Africa,” it said.

    It said the outlook for the country’s economic growth has remained positive. “Real GDP, which sustained the momentum of the past decade, 7.5 per cent average for the last 10 years, is projected to grow by 6.7 per cent in 2013 and 7.3 per cent in 2014.  This growth is driven mainly by the oil and gas sector, which grew by eight per cent and contributes 79 per cent to government revenues and 71 per cent to total export revenue.

    Next to oil and gas is the agriculture sector, which accounts for 30.9 per cent of GDP and employs about 70 per cent of the country’s labour force. The agriculture sector, therefore, holds the prospect of addressing the country’s huge unemployment challenge,” it said.

    GIABA said Nigeria’s economic potential provides opportunity for attracting Foreign Direct Investment (FDI).

    It said for the second year running, 2011 and 2012, Nigeria was been ranked as the number one destination for FDIs in Africa, and as having the fourth highest rate of returns on investments in the world.

    “Although FDI inflow fell from $8.9 billion in 2011 to $7 billion in 2012, it remained an impressive performance. However, much of the investment is in the ‘enclave’ oil and gas sector and thus holds little potential for generating employment,” it said.

  • OIL MONEY speaking: Angola offer for Keshi fantastic

    OIL MONEY speaking: Angola offer for Keshi fantastic

     • Within $150,000 to $200,000

    Brother to Super Eagles chief coach, Emmanuel Ado has described the proposed salary package which Angola offered to Stephen Keshi to coach its national team  as too tempting to ignore.

    But Keshi seems not moved as he awaits the Nigeria FA chiefs to formally make their bid which he hopes would come soon, considering the nearness of the Africa Cup of Nations qualifiers.

    On Wednesday, Ado told SportingLife that Keshi’s N5m salary as Eagles handler is no match when compared with the Angola offer which will be paid in US dollars. Angola and Nigeria are oil rich nations.

    “I have a copy of the offer from Angola in my mail box as l speak to you and l must tell you it is beautiful,” Ado revealed to SportingLife.

    As expected, Ado declined to mention the exact figure but hinted it was within the region of $150,000 to $200,000.

    “It is not below $100,000  and of course by the time you convert it into our local currency, it is better than what he is presently receiving as the Super Eagles coach,” he explained.

    When SportingLife asked Ado for Keshi’s reasons for not accepting the offer, he said:  “There are other considerations that we have to look at. Money is good but at the same time, it is not everything. My brother loves Nigeria and is only waiting on the Nigeria FA to make their bid,” he said.

    Ado, however, denied the report that Keshi is insisting on N10m as monthly salary from NFF. “Until they make their offer, Keshi cannot say anything. It is what they say and offer that will determine the negotiation and not what we read in the pages of newspapers,” he added.

    Ado who also doubles as Keshi’s media aide opened up on the supposed interest of South Africa to contract the latter for the then vacant Bafana Bafana seat which he claimed never existed. “In the first instance there was never any offer from South Africa. In the last 22 years South Africa has had 17 coaches. When coaches are fired or they resign voluntarily in South Africa there is always a debate for a foreign or local coach, several names will be thrown up and perhaps Keshi’s name was mentioned but they (South Africa) never approached Keshi,” he said.

    In 2011, Angola was listed as one of the most expensive countries in the world that was confirmed by those who visited the country when it hosted the Africa Cup of Nations in 2010.

    Other oil rich countries such as Equatorial Guinea and Gabon have also shown interest in Keshi.

  • Money, the cause of NFF’s troubles

    Money, the cause of NFF’s troubles

    The current problems rocking Nigeria’s apex football governing body, the Nigeria Football Federation (NFF), has been traced to money issues.

    Aminu Maigari was impeached as NFF president on July 24 on the grounds of alleged “financial misappropriation, misapplication and maladministration.”

    However, chairmen of the state football associations moved to reject the impeachment of Maigari on July 31 stating that a consensus had been reached to “to reject the resolutions of any alleged board meeting of the executive committee not duly called and/or presided over by Alhaji Aminu Maigari as the incumbent president of the executive committee of the NFF until after the election of Tuesday 26th August, 2014.”

    Executive committee member of the NFF and chairman of the body’s technical committee, Chris Green, has now opined that the dust raised in recent days by the football chiefs was down to money issues.

    “The shenanigans and charade at the NFF began just before the 2014 FIFA World Cup in Brazil. We had a few problems with the ‘powers that be’,” Green told Nigeria Info FM. He added that the NFF “stepped on toes” with a predictable backlash experienced afterwards.

    “This whole thing boils down to money. It was all about who gets what before the World Cup and who controls what. The powers that be wanted us to use a particular travel agency for our World Cup programme but that offer was preposterous and our budget at the NFF would not have been able to accommodate what they were asking for.

    “Monies didn’t get down to certain persons who subsequently got very angry. It was like we stepped on toes and that was how these issues began,” Green said.

  • ECOWAS empowers parliamentarians on value for money

    IN its quest to ensure sustainable socio-economic development in the region, the Economic Community of West Africa State (ECOWAS) organised a two-day capacity building workshop for parliamentarians in member countries.

    The event which held in Lagos, had international donor agencies, no-state actors among other stakeholders in attendance.

    Tagged: ‘Value For Money (VFM), it featured on accountability and sustainability in the social sectors, interface and discussions, plenary session to mention just a few.

    Justifying the need for the workshop, the ECOWAS Secretary General, Cheikh Abdel Kader Dansoko, ECOWAS Parliament representative, Jacob AmutaOnogwu, at separate discussion said that the objective of the forum was to among other things remove the bottlenecks and constrains militating against effective use of resources in member countries.

    The objective of the forum, they contended aligns with the ECOWAS Parliament’s 2011-2015 strategic plan.

    According to the duo, since 2008, after the global recession in most developed countries, and the attendant rippled effect of the recession took its toll on many developing countries especially in Africa which depend largely of aids and donor from the west, thus, there was a need for a paradigm shift in order to ensure socio-economic and sustainable development in the region.

    Shedding more light on what informed the initiative, Onogwu said it is also “The commitment of the African Development Bank to improve governance and accountability in social spending and hence, to an improvement in the living standards of the people of Africa.”

    Continuing, Onogwu said despite progress in human development indicators, as well as forthcoming funding in recent years, it is disheartening to note that “increased spending for health and education alone does not automatically produce positive outcomes. Rather, ensuring efficiency of the investments, and understanding the issues that affect the transformation of inputs into concrete development outcomes and implementing well-articulated strategies is what can improve the situation.”

    He however, suggested that ECOWAS Parliament and AfDB should explore further “the possibilities of partnering in implementing capacity-building programmes on value for money for ministries, parliamentarians and civil society organisations.”

    He recalled that “parliaments also have the power of the purse and the mandate to scrutinize the utilization of public finances and ensure financial accountability.”

    Echoing similar sentiments, the Director, African Development Bank Group, Mr. Dore Ousmare urged legislators to reflect on priority sectors and takes actions so that governments direct to them the appropriate resources.  The ultimate objectives being to get value for the money spent.

  • I am married into money , so why am i so miserable? (2)

    I married into money so why am I so miserable? (5)

    Some six months after Nick and I had been communicating by phone, he came to Nigeria for a visit. Though he had family in town, he decided to put up in a hotel for security and some privacy as he explained to me when we met. I did not visit him at the hotel to avoid suspicions from my husband. You see, though he was hardly around, my husband kept tabs on me and monitored my movements. I found out some years back when one of his staff, whom I had done a favour for confessed to me.

    It seemed Chief did not trust anyone including me, his wife. And this was the same man who went all over the place with his secretary Matilda who doubled as his mistress. I had heard about the affair and a few others he had had since our marriage but for the sake of peace and my mother’s counsel, I had ignored them.

    “As long as he provides well for you and the family, what do you care what he does outside?” said my mother when I had complained about my husband’s infidelities as well as lack of attention. “And you complain he’s never home. What do you want him to do? Sit at home and hold your hand all day long? Will that bring in money to enable you live in the type of affluence you do now? My dear, that is marriage-full of ups and down and you have to learn to endure certain things in order to survive in your marital home. It’s not rosy all the time. Have you forgotten so soon what your father did to us, to the family? Lots of women go through the same thing and they learn to cope! My dear, if other married women tell you about their experiences, you will be shocked. At least your husband spoils you with money. So, sit back and enjoy it and stop all this grumbling!” she had admonished.

    It was easy for her to say but what did she know about my needs and desires, I had grumbled to myself at the time. She must know what it felt like to have an absentee husband as my father had been one before his death two years before from an alcohol-related ailment. He was never home or there for the family as he preferred to be with his concubine. My husband was doing the same to me and I’m supposed to just sit back and endure it? For how long was I supposed to do that while I watched my youthful years slip away?

    Anyway, to avoid arousing my husband’s suspicions, Nick and I met up at Brenda’s place. We had not seen for over ten years and he had changed a lot during that time. He had put on some weight on his tall frame and he looked good.

    We chatted for hours, reminiscing about the old days. It was fun meeting up with Nick again and I was reluctant to leave when it was time to return home. For the six weeks he was in the country, Nick and I saw regularly. He was nice company and I enjoyed spending time with him. He made me laugh and forget my troubles at home. At first, I simply saw him as an old friend whose company I enjoyed but with time, my feelings towards him changed.

    He did not hide the fact that he was still crazy about me despite my being married.

    “I will always have you in my heart,” he told me a week before his departure to his base abroad. I felt bad that he would soon be leaving but there was nothing I could do about it. I was bound to Chief, had made my choice and I had to live the life I had chosen.

    Then, on the last day we saw, he told me something that surprised me.

    “Alice, I can see that despite your bright looks that you are not happy. What’s the problem, dear? Is it your husband? Is he maltreating you? You can talk to me! Are we not friends?” he said.

    For a moment, I was tempted to confide in him about my unhappiness at home. About my feelings of loneliness due to my husband’s long absences, or that in the past three months, I had seen him just once when he returned from one of his long trips. He had stayed for just two days and had travelled again. But I kept all these to myself, simply smiled at him and said:

    “I’m fine Nick. Everything’s fine. Perhaps, it’s the thought that you will soon leave that’s making me feel bad.”

    He looked sceptical for a moment as if he did not believe my words.

    “If you say so. But you know I’m always there for you if you need a shoulder to lean on,” he said, taking and squeezing my hand.

     

    New wife, fresh troubles

    After Nick left, life went back to normal- it was the same old dull routine. The only bright spot in my life was Nick who called regularly to check on me. I missed him terribly and at a point, I nursed the idea of travelling to see him but I changed my mind because of the risk involved. My husband would definitely find out and that could affect my marriage. Despite the situation, I was not ready to lose Chief and the perks that came with being his wife. Afterall, he had done so much for me and my family, I reasoned. All my siblings were doing well because of Chief’s generosity. How could I jeopardise that because of Nick even though I had fallen in love with him and I wanted to be with him more than anything in the world?

    One day, some months later, my husband returned from one of his trips with lots of gifts for me. But my joy at seeing him was cut short by his secretary Matilda. She arrived the following day with her bags and other belongings. Chief explained that she was having accommodation problems and needed a place to stay for a few weeks. My first instinct was to object, knowing the relationship between them. But I kept my cool and instructed one of the maids to prepare one of the guest rooms for her.

    “As soon as she gets another apartment, she will leave. Thanks for being so understanding, dear. That’s one of the things I love about you. You are so cool-headed!” my husband said later that night in our bedroom.

    From a couple of weeks, Matilda’s stay extended to months. She had been with us for nearly six months when I pointed out to my husband that she had stayed for more than the time frame he had told me she would be with us.

    “I think it’s time for her to leave. This is my home and I can’t continue to share it with your secretary!” I said.

    He assured me he would look into it. When the situation remained the same, I called Matilda one Saturday morning when my husband had gone to the club to play tennis. I told her she had overstayed her welcome and she should get a place to move to.

    “Move where?” she countered. “I’m going nowhere. This is my husband’s house and I have a right to be here as well!”

    I looked at her as if she had gone crazy.

    “Matilda, are you sure you are alright? What are you talking about?” I demanded angrily.

    “This!” she said, placing her hand on her stomach. Then, to my shock, she announced: “I’m pregnant for Chief! It’s two months! This is not the first time. For your info, I’ve had three abortions for Chief. But this one is staying. I’m keeping this baby!”