The Nation Newspaper

Tag: Salisu Dambatta

  • FG pays N11bn to YouWin awardees

    FG pays N11bn to YouWin awardees

    The Federal Government has disbursed over N11 billion to the beneficiaries of the third edition of the YouWiN! programme from 2015 to date.

    The Director of Information, Federal Ministry of Finance, Mr Salisu Dambatta in a statement on Tuesday in Abuja, said that out of the amount, N8.52 billion was disbursed by the President Muhammadu Buhari-led administration.

    According to Dambatta, the Minister of Finance, Mrs Kemi Adeosun, disclosed this while releasing the last payment of N125.64 million for disbursement to the final 61 beneficiaries of the third edition.

    “By January 2018, the total amount disbursed to beneficiaries of the third edition of the YouWiN! programme will be N11, 121, 031, 260, of which the current administration has disbursed N8, 522, 545,038,” she said.

    Adeosun said that the amount was disbursed to 1, 500 beneficiaries who have started or expanded their business across a variety of sectors, including Information and Communication Technology, Manufacturing, Services and Agricultural Production and Processing.

    She said that other areas covered under the third edition were Fashion and Entertainment, while various technical supports were extended to over 18, 000 beneficiaries in the areas of access to markets and finance.

    She said that the YouWin beneficiaries also had capacity building training in business management, accounting and operations.

    It will be recalled that on assuming office as the Minister of Finance, Adeosun reviewed and restructured the programme to YouWiN! Connect.

    YouWiN! Connect is currently providing online capacity building to more than 61,000 beneficiaries across the country.

    The next stage of the YouWiN! Connect Programme will involve sector specific in-class training to successful beneficiaries and the development of franchise infrastructure.

  • World Bank to assist states on fiscal sustainability plan

    World Bank to assist states on fiscal sustainability plan

    The World Bank Group has promised to assist the 36 states government to improve their fiscal sustainability by strengthening and consolidating the Fiscal Sustainability Plan (FSP).

    The Director of Information, Federal Ministry of Finance, Mr. Salisu Dambatta, disclosed this in a statement on Friday.

    Dambatta said the World Bank was prepared to finance capacity building and provide technical support for officials in the 36 states.

    He said, “This would equip them with the requisite knowledge and skills to effectively manage the comprehensive implementation of the components of the FSP on a sustainable basis.

    “The objective is to ensure that states are put on the path that would lead them out of the situation in which they have to be bailed out.

    “The capacity building programme is expected to impart skills that would contribute in the successful implementation of the Open Government Partnership commitments with the view to boosting the fiscal transparency and accountability.”

    The FSP was introduced by Federal Government to tackle the 2015-2016 fiscal crisis that followed the decline in revenue leading to two financial bailouts for the states by federal government.

    The plan is also an instrument for reforming the whole gamut of the Public Sector Financial Management (PSFM) system spanning the three tiers of government.

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  • FG pays N375.8m to whistle blowers

    FG pays N375.8m to whistle blowers

    The Federal Government has paid N375.8 million to 20 whistle blowers for providing information that led to the recovery of N11.6 billion.

    The Director of Information, Ministry of Finance, Mr. Salisu Dambatta, who disclosed this in a statement on Wednesday, said the payment was only for recovered assets that had been declared free of legal disputes or litigation by the Attorney-General of the Federation.

    He said taxes were removed before final payments to beneficiaries.

    Dambatta said: “This payment, which is the first under the Whistle blower Policy, underscores the commitment of the President Muhammadu Buhari-led administration in meeting obligations to information providers under the Whistle blower Policy.

    “The policy is an essential tool in the fight against corruption.

    “The ministry, therefore, encourages all Nigerians with information on misconduct, violation or improper activity which can impact negatively on Nigeria to report it to the appropriate authority.”

    He said the Whistle blower Policy was recently amended to include the introduction of a formal legal agreement between information providers and the federal government.

    He said the agreement had already been executed by the Minister of Justice.

    He said the amendment was introduced to ensure protection of information providers’ identity during the payment process.

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  • Adeosun urges CBN to extend BVN to micro finance banks

    Adeosun urges CBN to extend BVN to micro finance banks

    The Minister of Finance, Mrs. Kemi Adeosun, has urged the Central Bank of Nigeria (CBN) to extend Bank Verification Number (BVN) requirement to account holders in Microfinance Banks (MFBs).

    She said this would facilitate the detection of bank accounts which might have been opened and operated in such banks by ghost workers and other syndicates.

    A statement by the ministry’s Director of Information, Mr. Salisu Dambatta in Abuja on Monday, said Adeosun had written to the CBN Governor, Mr. Godwin Emefiele, to make her case.

    The minister said that the introduction of BVN by the CBN had contributed immensely in improving the integrity of the Federal Government payroll on which more than 50,000 ghost workers were detected and removed.

    She said that operating bank accounts in Microfinance Banks without requirement for BVN had left a huge loophole which individuals with intent on financial crimes could use to hide and launder proceeds of crime and successfully escape detection by law enforcement agencies.

    Adeosun referred the CBN governor to the discovery that prior to the deadline for obtaining the BVN, there had been movement of a large number of salary accounts of federal employees from commercial banks to microfinance banks.

    “This is a suspicious activity and we have already commenced a review of such cases to identify and investigate any cases of fraud.

    “We know that extending the requirement for BVN to Microfinance Banks may put a huge financial strain on the smaller Microfinance Banks; however, some MFBs such as National Police Force Microfinance (NPF), have over 27,000 salary accounts.

    “Our inability to perform checks on such a large number of salary earners is a key risk.

    “I am therefore seeking your cooperation to enforce compliance with BVN on any MFB with over 200 active salary accounts or those above a certain size.

    “This will support the Federal Government’s efforts at reducing leakages to create headroom for the capital projects that will support the growth of the economy,” she said.

    The CBN had, in September 2016, announced its intention to extend the requirement for the extension of the BVN to MFBs in the country, but the exercise had not taken off.