Nigeria’s central bank on Wednesday said government ministries and departments were complying with a presidential order aimed at more transparency over revenues.
President Muhammadu Buhari, elected earlier this year on an anti-corruption ticket, had ordered all ministries to put revenues into a single account with the apex bank by Tuesday night.
With all financial transactions passing through a single bank account, it’s hoped this will end the practice of ministries and departments maintaining multiple accounts for government revenues, reducing the chance of fraud and improving monitoring.
Asked on Wednesday whether the deadline had been met, Central Bank of Nigeria spokesperson Mu’azu Ibrahim said: “So far so good. We are happy with the level of compliance by the ministries, departments and parastatals with the president’s directive on a Treasury Single Account (TSA).”
Commercial banks are also making efforts to comply with the directive, and no extension to the deadline will be considered, he added.
Buhari has pledged to trace and recover what he called “mind-boggling” sums of money stolen from the crude oil sector.
“Two hundred and fifty thousand barrels per day of Nigerian crude are being stolen and people sell and put the money into individual accounts,” he said. “I assure you that we will trace and repatriate such money and use the documents to prosecute them.” Since he came to power in May, he has launched a crackdown on corruption at the state-run oil firm, sacking the entire board and ordering an investigation into its finances.
AFP
Wednesday, September 16, 2015
Nigeria in talks with Boko Haram over kidnapped schoolgirls
Nigeria's president says the government is talking to the Islamic extremist group Boko Haram about the more than 200 kidnapped schoolgirls.
Presidential spokesman Femi Adesina in a tweet late Tuesday quoted President Muhammadu Buhari as saying the government is talking to Boko Haram members and it is trying to make sure they are genuine leaders. Buhari is in France on a three-day state tour.
Military from Nigeria and Chad freed hundreds of hostages from Boko Haram captivity earlier this year but none of those rescued were from the 219 girls abducted in April 2014 from a school in Chibok.
Nigeria's homegrown Islamic extremist group has used dozens of girls and women in recent suicide bombings in Nigeria and neighboring Chad, Cameroon and Niger, raising fears they are kidnap victims.
AP
Presidential spokesman Femi Adesina in a tweet late Tuesday quoted President Muhammadu Buhari as saying the government is talking to Boko Haram members and it is trying to make sure they are genuine leaders. Buhari is in France on a three-day state tour.
Military from Nigeria and Chad freed hundreds of hostages from Boko Haram captivity earlier this year but none of those rescued were from the 219 girls abducted in April 2014 from a school in Chibok.
Nigeria's homegrown Islamic extremist group has used dozens of girls and women in recent suicide bombings in Nigeria and neighboring Chad, Cameroon and Niger, raising fears they are kidnap victims.
AP
Women and children captives rescued from Boko Haram
Nigeria’s army has said it rescued at least a dozen kidnapped women and children held captive by the Islamist extremist group Boko Haram.
Military spokesman Colonel Sani Kukasheka Usman said they were freed as the army cleared Boko Haram camps on Monday in north-eastern Borno state.
The army did not say where the women and children had been kidnapped from or their condition.
Hundreds of hostages have been freed from Boko Haram captivity in 2015 but none of the 219 girls abducted in April 2014 from a school in Chibok has been among those rescued.
The Nigerian extremist group has used dozens of girls and women in recent suicide bombings in Nigeria and neighbouring Chad, Cameroon and Niger, raising fears they were kidnap victims.
More than 1,000 people have been killed since President Muhammadu Buhari was elected in March with a pledge to annihilate the militants, whose six-year-old uprising has killed a total of about 20,000 people. At least 2.1 million people have been driven from their homes, some across borders.
Earlier this year troops from Chad and Nigeria drove the extremists out of some 25 towns held for months in an area that Boko Haram had declared an Islamic caliphate aligned with the Islamic State group in the Middle East. The insurgents have returned to hit-and-run attacks and suicide bombings.
Guardian
Military spokesman Colonel Sani Kukasheka Usman said they were freed as the army cleared Boko Haram camps on Monday in north-eastern Borno state.
The army did not say where the women and children had been kidnapped from or their condition.
Hundreds of hostages have been freed from Boko Haram captivity in 2015 but none of the 219 girls abducted in April 2014 from a school in Chibok has been among those rescued.
The Nigerian extremist group has used dozens of girls and women in recent suicide bombings in Nigeria and neighbouring Chad, Cameroon and Niger, raising fears they were kidnap victims.
More than 1,000 people have been killed since President Muhammadu Buhari was elected in March with a pledge to annihilate the militants, whose six-year-old uprising has killed a total of about 20,000 people. At least 2.1 million people have been driven from their homes, some across borders.
Earlier this year troops from Chad and Nigeria drove the extremists out of some 25 towns held for months in an area that Boko Haram had declared an Islamic caliphate aligned with the Islamic State group in the Middle East. The insurgents have returned to hit-and-run attacks and suicide bombings.
Guardian
Tuesday, September 15, 2015
Video - Documentary on Nigeria's top fashion designer Deola Sagoe
Nigerian fashion has broken out, gracing the catwalks of New York, Johannesburg and Monaco.Deola Sagoe was one of the designers who led this Nigerian fashion expansion.
France to invest €130m in Nigerian infrastructure development
French President François Hollande Monday disclosed that his government has concluded arrangements to invest a total of €130 million in the development of infrastructure in Nigeria for rebuilding of roads, provision of electricity and water supply.
According to him, despite the fall in the price of crude oil in the international market which has affected Nigerian expected revenue, the country’s economy still remained strong.
“The Nigerian economy remains strong so, France wants to be doing business in the country” he said at a joint press conference at the Elsee Palace in Paris, after a closed door bilateral meeting with President Muhammadu Buhari who is on a three-day working visit to France.
He said France intends to increase the visibility of its investors more in Nigeria adding that his country will assist the Multinational Joint Task Force (MJTF) with intelligence gathering and equipment in fighting terrorism in Nigeria and the African sub region.
“We provide all of the support to the countries in the region which are affected by this cult and in Nigeria, we want to provide support and solidarity,” he noted thanking the President for relocating the
military command center to Maiduguri.
In his remarks, President Buhari thanked the French government for his government’s interest in assisting Nigeria and expressed the readiness of his administration to partner with France to development of the country.
President Buhari noted that with commitment from France, Nigeria’s next shopping list regarding support will move to other members of the G7.
“We have to depend on France and the other G7 countries for support to fight piracy” the President said adding “Our next shopping list is going to G7in terms of intelligence and training. Another problem is the problem in the Gulf of Guinea, from Senegal to Angola, that area is endowed with resources like petroleum and other minerals but surrounded by piracy and theft.
“We are going to depend on France and G7 countries to flush these criminals out of the region.” Adding that they had discussed the Memorandum of Understanding to build a €30M project solar power plant in a rural local government of Osun State capacity of the solar power plant is 10 to 14 megawatts.
Speaking further President Buhari said that “On Nigeria’s problems, more than 67 percent of our youths and most of them under their youthful age are unemployed. We are finding best way in Agriculture and mining to address this before sophisticated infrastructure and security are provided.
President Buhari and Hollande also discussed on issued of climate change which Nigeria is expected to contribute to at a global level. Both Nigeria and France last year signed last year bilateral agreements which enables the Frech government provide 1.170 Million dollars soft loan through the french development agency AFD for the construction of high voltage power lines and substations that will connect Abuja with electrical distribution network.
BusinessDay
According to him, despite the fall in the price of crude oil in the international market which has affected Nigerian expected revenue, the country’s economy still remained strong.
“The Nigerian economy remains strong so, France wants to be doing business in the country” he said at a joint press conference at the Elsee Palace in Paris, after a closed door bilateral meeting with President Muhammadu Buhari who is on a three-day working visit to France.
He said France intends to increase the visibility of its investors more in Nigeria adding that his country will assist the Multinational Joint Task Force (MJTF) with intelligence gathering and equipment in fighting terrorism in Nigeria and the African sub region.
“We provide all of the support to the countries in the region which are affected by this cult and in Nigeria, we want to provide support and solidarity,” he noted thanking the President for relocating the
military command center to Maiduguri.
In his remarks, President Buhari thanked the French government for his government’s interest in assisting Nigeria and expressed the readiness of his administration to partner with France to development of the country.
President Buhari noted that with commitment from France, Nigeria’s next shopping list regarding support will move to other members of the G7.
“We have to depend on France and the other G7 countries for support to fight piracy” the President said adding “Our next shopping list is going to G7in terms of intelligence and training. Another problem is the problem in the Gulf of Guinea, from Senegal to Angola, that area is endowed with resources like petroleum and other minerals but surrounded by piracy and theft.
“We are going to depend on France and G7 countries to flush these criminals out of the region.” Adding that they had discussed the Memorandum of Understanding to build a €30M project solar power plant in a rural local government of Osun State capacity of the solar power plant is 10 to 14 megawatts.
Speaking further President Buhari said that “On Nigeria’s problems, more than 67 percent of our youths and most of them under their youthful age are unemployed. We are finding best way in Agriculture and mining to address this before sophisticated infrastructure and security are provided.
President Buhari and Hollande also discussed on issued of climate change which Nigeria is expected to contribute to at a global level. Both Nigeria and France last year signed last year bilateral agreements which enables the Frech government provide 1.170 Million dollars soft loan through the french development agency AFD for the construction of high voltage power lines and substations that will connect Abuja with electrical distribution network.
BusinessDay
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